4.1 INTRODUCTION | unit 4 final accounts of co operative societies

Unit 4

FINAL ACCOUNTS OF CO OPERATIVE SOCIETIES

4.1 INTRODUCTION

Co-operative society came into existence due to the exploitation of the economically and socially weaker section of the society; by manufactures / big businesspersons / whole / Retailers.

The Co-operative movement first started in Europe; particularly in England and Germany.

When weaker section of society are finding out difficult with less earning;they were organised them self for mutual help. These organizations lead to firm a Co-operative society.

In Maharashtra Co-op movements, give way to Co-op. Sugar Factories, Left Irrigation, and Co-op Housing Society. A Co-operating society is a voluntary organisation formed for the purpose of promoting & protecting interest of its members. The main objective of Co-operative society is to protecting interest of its members. it does earn profit which may be partly distributed among its members and partly kept as reserves.

Definition: A Co-operative society can be defined as an association of people usually of a limited means, who have voluntarily joined the organisation making equitable contribution to the capital required and excepting a share and risks and benefits of the organisation. Normally a Co- operative society is a service organizations is not interested in making profit.

A Co-operative society is most important form of organisation in Indian economic screen. Co-operative societies are covered by different state Laws which differs from state to state. In Maharashtra, we have State Co-operative Societies Act & Rule 1961.

Co-operative societies as form of organistation doing the business is assuming a growing importance, next to corporate sector on the Indian economic sense. Co-operative Society is a collective effort of large number of people, operating in various fields of activities such as co- operative sugar factories, spinning and weaving mills, co-operative credit societies, Urban co- operative Banks, consumers co-operative societies, Industrial co-operative societies, housing societies and so on.

Maharashtra is considered as a most progressive state in the development of Co-operative Societies. The Accounting Procedures and Final Accounts Formats differ from state to state as each state in India has its own Co-operative Act. Let us study the main provisions of the Maharashtra Co- operative Societies (MCS) Act, 1960 and the Maharashtra State Co-operative Societies Rules, 1961.

4.2 TYPES OF CO-OPERATIVE SOCIETIES

The Maharashtra Co-operative societies Act classifies societies under various categories as under :

(1) Credit Co-operative Society :

This is oldest type of co-operative in India. It comes into existence around 1904 with the passing of co-operative societies Act 1904.

The main purpose of this type of societies is to provide loans to members, at low rate of interest.

(2) Consumers co-operative society :

Consumers form it. The consumers co-operative society purchases in bulk and in large quantities and sells it to members / to consumers at reasonable prices and also good quality. Therefore consumers co-operative society eliminate intermediaries between buyers and sellers / manufacturers.

Consumers co-operative society can be classified as under :

Primary Consumers society :

Such societies meets needs of direct customers. The controller goods purchased from central stores to which affiliated and others in bulk purchases in open market and sales at reasonal price to members, in some cases to non-members also.

b. Central Whole Stores :

These type of society deal in whole-sale business, and fulfil the needs of primary society.

c. Departmental stores :

In cities super market / Departmental stores are set up which stock are requirement of consumers under one roof. These type of societies need substantial amount for capital.

3. Industrial Co-operative Society :

It is organised by small producers to carry out certain production activities e.g. sugar mills / milk / cotton cloths co- operative societies.

4. Agricultural Marketing Society :

It means that a society which is marketing agricultural produce ii) At least ¾ of its member are agriculturist.

5. Co-operative Bank :

For doing banking business as per section 5 of Bank Companies Act. / For doing Banking business permission of R.B.I. required.

6. Co-operative Housing Societies :

These type of societies are formed for the purpose providing to its members dwelling houses or flats acquired by its members with common amenities and services. In Maharashtra house construction activities are regulated by Maharashtra Ownership Flat Act, 1963.

7. Apex society.

8. Central Bank.

9. Farming society.

10. Crop protection society.

11. Federal society:

It is a society which has not less than five members are societies and has also regulated 80% of voting rights is held by co-operative societies.

12. Lift Irrigation society.

Definitions under MCS Act

Co-operative Society : Under section 2(27) of the Act, Society means a co-operative society registered or deemed to be registered under this Act. Co-operative society is corporate body distinct from its members. Section 167 of Co-operative Societies Act state that provisions of Companies Act are not applicable to Co-operatives.

2. Working Capital : Under section 2(31) of the Act, ‘Working Capital’means funds at the disposal of society inclusive of paid up share capital, funds build up out of profits and money raised by borrowing and other means. The definition of the term is different as generally working capital means Net Current Assets represented by Current Assets Less Current Liabilities.

3. Auditor: Rule No.69 of Co-operative Societies Rules states that the audit co-operative societies shall be conducted either by departments auditor or certified auditors. The term certified auditors includes the following:

(a) Chartered Accountant

(b) A person who holds a Government diploma in Co-operative Accounts and Audit.

(c) A person who has served as an auditor in the co-operative department of the state government (Retired officers of the co-operative department.

4. Bye-Laws: Under section 2(5) ‘Bye-laws’registered under this Act and for the time being in force, and includes registered amendments of such bye-laws. Bye-laws of a co-operative society may be compared with the articles of a company.

The Provision in the bye-laws cannot be contrary to the Provision of the co-operative Societies Act. The bye-laws generally include the following clauses for internal management of co-operative society.

(a) Name and address of company

(b) Area of operation

(d) Objects of society

(e) Maximum amount of share capital that my held by a member

(f) Terms and qualifications for admission of membership

(g) Rights, duties and liabilities of members.

(h) Maximum loan admissible to a member.

(i) Disposal of net profit

Rule no. 8 Maharshtra state Co-operative Societies Rule,1961 give the various details of the items in the bye-laws of the society.

Any amendments, changes or deletion in bye-laws shall have to be approved by a resolution at special general meeting and also a written approval from the District Deputy Registrar is necessary.

The first bye-laws of the society are required to be approved by the Registrar, as per Rule no.9.

5. Co-operative Year: The Act has fixed 31st day of March as the day of balancing the accounts of the society. However, any other day can be fixed by the society for this purpose with the prior approval of the registrar. It means that the co-operative year need not necessarily be from 1st April to 31st March. Normally, now a days societies follow 31st March as the year ending to conform with the Income Tax Act.

6. Members: Under section 2(19) , a member of a co-operative society means a person joining in an application for the registration of a co-operative society, which is subsequently registered or a person duly admitted to a member. Following are the different types of members-

(a) Associate Member: Associate member means a member who hold jointly a share of society with others, but whose name does not stand first in share certificate.

(b) Nominal Member: ‘Nominal Member’means a person admitted to membership as such after registration in accordance with its laws.

(c) Symoathiser Member: Sympathiser member means a person who symapthises with aims and objects of the society and who is admitted by society as such manner.

4.3 ACCOUNTING & FINANCES

Books of Accounts and Records

According to section 79(1) of M.S.C.S. Act, the Registrar may direct to keep proper accounts in relation to

(a) All sums of money received and expanded by the society and the matters in respect of which receipts and expenditure take place.

(b) All sales and purchases of goods by the society, and of the stock in hand and its valuation.

(d) He may call the society to furnish such statements and returns and to produce such returns as he may require from time to time.

Rule no.65 of M.S.C.S. Rules gives a specific list of the following books to be maintained by society

(1) Cash Book.

(2) General Ledger and Personal Ledger.

(3) Stock Register.

(4) Property Register.

(5) Register of audit objections and their rectifications.

(6) Such other accounts and books as from time to time be specified by the Government.

Broadly speaking, books of accounts should be so maintained as to give the necessary financial statistical and other information.

Statutory Registers:

Under section 38 of the co-operative societies act read with Rule no.32, a co-operative society shall have to maintain a Register of Members in I form. Nominations should be obtained from the members. According to Rule No.33 read will section 39 the list of members shall have to be maintained in U form.

Payment by Cheque:

Rule No.107-D prescribes that all payments made by the society exceeding Rs.1,000 shall be made by cheque, except the loan sanctioned to members.

Maximum cash Balance:

Rule No.107-C prescribed the maximum amount of cash allowable to be kept by different kind of societies. Some of the limits prescribed by the Rule are as follows:

Types of Society	Maximum Cash Rs.
Sugar Factories	5,000
Consumer Societies	1,000
Dairy Societies	500
Industrial Estates	500
Salary Earners Societies	500
Housing Societies	300

Security from Employees:

Rule No.107-B deals with securities to be taken from the officers and employees of the society who are required to handle cash, securities and property belonging to the society. The amount of security shall be different on the basis of paid up Share Capital of the society being either less than Rs.1.50 Lacs or more than Rs.1.50 Lakhs. It shall be partly in cash and partly in the form of personal security of Fidelity Guarantee Policy.

Writing off of Bad Debts and Losses:

According to Rule No.49 no bad debts or losses shall be written off without the sanction of General Body. All Debts which are found irrecoverable and are certified as Bad Debts, by the auditor appointed U/s 81, shall be written off, first against bad debts fund, and the Balance Sheet if any, may be written off against the Reserve Fund and the Share Capital of the society. An approval from Register is necessary before writing off the Bad Debts.

Financial Statement:

According to Rule No.61 of M.S.C.S. Rules, the society will have to prepare, within 45 days of the close of accounting year, the following financial statements.

(a) Receipts and Payments accounts during the previous year co-operative accounting year ending 30th June.

(b) The Profit and Loss Account for the year (or Income and Expenditure A/c)

Rule no.62 of M.S.C.S. Rules deals with the prescribed form of Balance Sheet and Profit and Loss Account (Form N). The Financial statements duly prepared in this form are to be laid down before the Annual General Meeting, which is to be held within three months from the end of accounting year. The registrar may permit a particular society to prepare their financial statements in some other form as per the provision of this rule.

4.4 ASCERTAINMENT AND APPROPRIATION OF PROFITS

Section 65(1) of the Act, amended in 1985, states that a society shall construct its relevant annual financial statement and arrive at its consequent net profit or loss in the manner prescribed. A co-operative society engaged in a business of Manufacturing, Trading or Banking should adopt mercantile system of accounting to arrive at true and fair profits. The

Section 65(2) states that a society may appropriate its Net Profit to the reserve fund or any other fund for payment of dividend to members on their shares. No parts of the profits shall be appropriated except with the approval of the General Body.

Section 64 of the Act states that no part of the funds other than the dividend equalisation or Bonus equalisation shall be paid by way to bonus or dividend to its members.

According to section 68 every society shall contribute annually towards the Education Fund and Rule No.53 prescribes the rates of contribution according to the nature of society.

	Class of society	Rate
1	Primary Consumers Society	2 Paise per Rs.100 of the working capital subject to a maximum of Rs.1,000.
2	Urban Credit Society	10% of the working capital in respect of those which have earned
		profit during the previous year subject to maximum of Rs.500
3	Co-operative Sugar Factories	25 paise per ton of sugarcane crushed subject to maximum of Rs.25,000.
4	Housing Society Backward class housing society	Re.1 per member having a tenement Rs.10.
5	Urban credit bank	1/10% of working capital subject to a maximum of Rs.1,000.

4.5 RESERVE FUND

Section 66(1) and (2) state that every society deriving profits, shall transfer 25% of the profit to the Reserve Fund. According to the provision of the section, the registrar may fix the contribution not less than 10% in some cases of any society having regards to its financial position.

4.6 STATUTORY FORMATS OF FINAL ACCOUNTS

There is no prescribed format for Trading Account; which can be prepared in the usual manner.

No appropriations can be made unless the accounts are audited and approved by the general body. Hence no Profit and Loss Appropriation A/c is prepared along with the annual accounts, submitted by the managing committee to the general body for approval.

FORMAT OF INCOME & EXPENDITURE ACCOUNT

Particulars	Rs	Rs	Particulars	Rs	Rs
I. Property Expenses			I. Collection from Members for
Property Taxes			-Property Expenses
Water Charges
Common Electricity charges
Repairs & Maintenance
Insurance charges			II. Collection from Members for
Club House Expenses			-Establishment Expenses
II. Establishment Expenses
Salaries
Office Expenses
Accounting charges
Printing & Stationery
Conveyance
Election Fund			III. Interest & Dividend
Subscriptions of Hsg Federation			Interest on Savings Bank
Audit Fees			Interest on Fixed Deposits
Security Charges			Interest on Investments
Salaries			Dividend on Shares/MF
III. Other Expenses
Depreciation			IV. Other Income

IV. Surplus/(Deficit)

Total			Total

FORMAT OF Balance Sheet

Liabilities	Amount	Assets	Amount
Share Capital		Cash & Bank Balance
Authorised, Issued and Paid- up		Cash in hand
Purchased by the Government		At Bank (also called Deposits)
Purchased by Co-operative Societies		Investments
Purchased by Individuals		Government Securities
Shares in Advance		Shares in Co-operative Institution
Less : Calls in Arrears		Fixed Deposits with Banks
Add: Calls in Advance		Provident Fund Investments
Subscription/Deposits towards shares		(including advances to provident fund)
Reserve Fund and Other Funds		Loans and Advances
Reserve Fund		Loans
Building Fund		Cash Credit
Development Fund		Due from the Managing Committee
Reserve for Doubtful Debts		Sundry Debtors
Depreciation Fund		For Credit Sales
Dividend Fund		For Advances
Bonus Equalisation Fund		Current Assets
Other Equalisation Fund		Tools and Equipments
Staff Provident Fund		Closing Stock
Debentures		Work in Progress
Cash credit		Fixed Assets
Overdraft		Land and Building
Loans		Plant and Machinery
Government Loans		Live stocks
Other secured Loans		Dead socks
Secured Loans		Vehicles
Unsecured Loans		Other Expenses and Losses
From Banks		(not written off)
From Government		Preliminary Expenses
Bills payable		Advances
Others		Payment of Taxes
Deposits		Goodwill
Fixed Deposits		Deferred Revenue Expenses
Saving Deposits		Expenses in connection with issue of Debentures
Recurring Deposits		Losses
Other Deposits		Add: Current Loss
Current Liabilities and Provisions
Sundry Liabilities
Outstanding Salaries etc.
Advances
Unclaimed Dividend
Interest due but not paid
Other Liabilities
Income & Expenditure account
Opening Balance
Add: Current Year Profit

Total		Total

4.7 SOLVED EXAMPLES

Q.1. From the following trail balance, prepare final accounts in the prescribed format.

Roshni Co-Op Housing Society Ltd

Trial Balance

Particulars	Debit (Rs)	Particulars	Credit (Rs)
Cash in Hand	3,995	Collection from Members
Cash at Bank	93,144	-For Property Expenses	37,056
Dues from Members	52,903	-For Service Charges	5,140
Water pump	4,113	Members Deposit	7,100
Deposits for Electricity	595	Interest- FD	3,017
Deposits for Water	380	Interest- SB	1,005
Property taxes	10,346	Sinking Fund(Bal b/d)	34,560
Water Charges	7,513	Statutory Reserve Fund(Bal b/d)	38,470
Common Electricity Charges	10,240	Subscribed Share Capital
Subscriptions to Election Fund	36	60 shares of Rs 50 each	3,000
Office Expenses	3,425	Surplus for last year	74,038
Printing & Postage	776
Conveyance	570
Subscriptions to Housing Federation	500
Audit Fees	1,000
Security Charges	13,850

Total	203,386	Total	203,386

Additional Information:

Authorised share Capital is 2,000 shares of Rs 50 each

Depreciation on water pump @ 15%

Collection from Members for Service Charges include

- Entrance fees Rs 100

- Contribution for sinking fund Rs 1,440

Solution:

Roshni Co-Op Housing Society Ltd

INCOME & EXPENDITURE ACCOUNT

Particulars	Rs	Rs	Particulars	Rs	Rs
I. Property Expenses			I. Collection from Members for
Property Taxes	10,346		-Property Expenses		37,056
Water Charges	7,513
Common Electricity charges	10,240	28,099

			II. Collection from Members for
			-Establishment Expenses
II. Establishment Expenses			Vide Trial Balance	5,140
Office Expenses	3,425		Less: Entrance Fees	(100)
Printing & Postage	776		Less: Sinking Fund	(1,440)	3,600
Conveyance	570
Election Fund	36		III. Interest & Dividend
Subscriptions of Hsg Federation	500
Audit Fees	1,000		Interest SB	1,005
Security Charges	13,850	20,157	Interest FD	3,017	4,022

III. Other Expenses
Depreciation		617	IV. Other Income

IV. Surplus/(Deficit)		(4,195)

Total		44,678	Total		44,678

Balance Sheet

Liabilities	Amount	Amount	Assets	Amount	Amount
Share Capital			Cash & Bank Balance
Authorised			Cash in hand	3,995
2000 shares of Rs 50 each		1,00,000	At Bank (also called Deposits)	93,144	97,139
Subscribed			Investments		-
60 shares of Rs 50 each		3,000	Provident Fund Investments		-
Subscription/Deposits towards shares		-	(including advances to provident fund)
Reserve Fund and Other Funds			Loans and Advances		-
Statutory Reserve Fund			Sundry Debtors
Opening Less: Entrance Fees	38,470 100	38,570	Dues from Members		52,903
Sinking Fund
Opening Additions to SF	34,560 1,440	36,000	Current Assets		-
			Fixed Assets
Staff Provident Fund		-	Water Pump	4,113
Secured Loans		-	Less: Depreciation	(617)	3,496
Unsecured Loans		-	(4113 x 15%)
Deposits
Members Deposits		7,100
Current Liabilities and Provisions		-	Other Expenses and Losses		-
Unclaimed Dividend		-	Other Assets
Interest due but not paid		-	Deposits for Electricity	595
Other Liabilities		-	Deposits for Water	380	975
Income & Expenditure account
Opening Balance	74,038
Less: Current Year Deficit	(4,195)	69,843

Total		1,54,513	Total		1,54,513

Q.2. the following trail balance as on 31-3-18, prepare final accounts in the prescribed format.

Venkat Park Co-Op Housing Society Ltd

Trial Balance

Particulars	Debit (Rs)	Particulars	Credit (Rs)
Cash in Hand	5,443	Collection from Members
Cash at Bank	351,595	-For Property Expenses	86,662
Accounting Charges	5,000	-For Establishment Charges	23,040
Accumulated losses not w/off	262,532	Entrance Fees	170
Audit Fees	750	Interest- FD	44,503
BMC Deposit for Water	1,664	Interest- SB	10,750
BSES Deposit	1,195	Redevelopment charges	300,000
Clubhouse Expenses	35,020	Statutory Reserve Fund(Bal b/d)	399,773
Electricity Charges	18,070	Subscribed Share Capital
Dues from Members	83,817	60 shares of Rs 50 each	3,000
Insurance Charges	14,615	Transfer Fees	90
Structural Audit Fees	14,750	Outstanding Expenses	9,950
Postage	1,679
Property Taxes	9,410
Repairs & maintenance	49,723
Salaries	6,000
Conveyance	500
Water Charges	16,175


Total	877,938	Total	877,938

Additional Information:

Authorised share Capital is 2,000 shares of Rs 50 each

Prepaid Insurance Rs 11242

Redevelopment charges collected from members to be refunded to members.

Solution:

Venkat Park Co-Op Housing Society Ltd

INCOME & EXPENDITURE ACCOUNT

Particulars	Rs	Rs	Particulars	Rs	Rs
I. Property Expenses			I. Collection from Members for
Property Taxes		9,410	-Property Expenses		86,662
Water Charges		16,175
Electricity charges		18,070	II. Collection from Members for
Repairs & Maintenance		49,723	-Establishment Expenses		23,040
Insurance Charges	14,615
Less: Prepaid	(11,242)	3,373
Club House Expenses		35,020
II. Establishment Expenses			III. Interest & Dividend
Accounting charges	5,000
Postage	1,679		Interest SB	10,750
Conveyance	500		Interest FD	44,503	55,253
Salaries	6,000
Audit Fees	750		IV. Other Income
Structural Audit Fees	14,750	28,679

III. Other Expenses
IV. Surplus/(Deficit)		4,505

Total		1,64,955	Total		1,64,955

Balance Sheet

Liabilities	Amount	Amount	Assets	Amount	Amount
Share Capital			Cash & Bank Balance
Authorised			Cash in hand	5,443
2000 shares of Rs 50 each		1,00,000	At Bank (also called Deposits)	3,51,595	3,57,038
Subscribed			Investments		-
60 shares of Rs 50 each		3,000	Provident Fund Investments		-
Subscription/Deposits towards shares		-	(including advances to provident fund)
Reserve Fund and Other Funds			Loans and Advances
Statutory Reserve Fund			Prepaid Insurance		11,242
Opening	3,99,773		Sundry Debtors
Add: Entrance Fees	170		Dues from Members		83,817
Add: Transfer Fees	90	4,00,033	Current Assets		-
			Fixed Assets		-
Staff Provident Fund		-	Other Expenses and Losses		-
Secured Loans		-
Unsecured Loans		-
Deposits		-	Other Assets
			BSES Deposit	1,195
Current Liabilities and Provisions			BMC Deposit for Water	1,664	2,859
Outstanding Expenses	9,950
Redevelopment charges refundable	3,00,000	3,09,950	Income & Expenditure account
Unclaimed Dividend		-
Interest due but not paid		-	Opening Balance (Accumulated Losses)	2,62,532
Other Liabilities		-	Less: Current Year Surplus	(4,505)	2,58,027
Income & Expenditure account		-



Total		7,12,983	Total		7,12,983

Q.3. From the following trail balance, prepare final accounts in the prescribed format.

Shark CHS Ltd

Trial Balance

Particulars	Debit (Rs)	Particulars	Credit (Rs)
Cash in Hand	14,984	Collection from Members
Cash at Bank	2,36,071	-For Property Expenses	16,99,152
Water Pump	12,390	-For Establishment Charges	11,57,017
Fixed Deposits	61,37,752	Entrance Fees	200
Audit Fees	17,524	Interest on sinking fund investment	7,61,946
BMC Deposit for Water	6,625	Interest- SB	1,212
Tata Power Deposit	14,200	Redevelopment charges
Fixed Deposits- Sinking Fund	26,90,000	Statutory Reserve Fund(Bal b/d)	1,35,515
Electricity Charges	3,41,324	Subscribed Share Capital
Dues from Members	60,236	350 shares of Rs 50 each	17,500
Insurance Charges	27,695	Transfer Fees	500
Equipments	3,90,256	Surplus for last year	6,19,986
Furniture & Fittings	11,718	Tower Rent	1,96,542
Property Taxes	5,89,710	Sinking Fund(Bal b/d)	67,12,745
Repairs & maintenance	1,40,616	Collected for Sinking Fund	5,71,596
Salaries	6,75,783
Security charges	1,31,952
Water Charges	1,30,485
Accrued Interest FD- Sinking Fund	70,299
Housekeeping Exps	1,48,310
Advances Staff	26,081

Additional Information:

Authorised share Capital is 28,000 shares of Rs 50 each

Provide Depreciation

- Equipments Rs 71,996

- Water Pump Rs 1,858

- Furniture Rs 1,172

3. Prepaid Insurance Rs 13,660

4. Prepaid Maintenance Rs 15,571

5. O/s Property Taxes Rs 5,97,603

6. Advance from members for service charges Rs 30,181

7. Tower rent received in advance Rs 44,065.

Solution:

Shark Co-Op Housing Society Ltd

INCOME & EXPENDITURE ACCOUNT

Particulars	Rs	Rs	Particulars	Rs	Rs
I. Property Expenses			I. Collection from Members for
Property Taxes	5,89,710		-Property Expenses		16,99,152
Add: O/s Property Taxes	5,97,603	11,87,313
Water Charges		1,30,485
Electricity charges		3,41,324
Repairs & Maintenance	1,40,616
Less: Prepaid	(15,571)	1,25,045	II. Collection from Members for
			-Establishment Expenses	11,57,017
Insurance Charges	27,695		Less: Advance	(30,181)	11,26,836
Less: Prepaid	(13,660)	14,035

II. Establishment Expenses			III. Interest & Dividend
Housekeeping	1,48,310
Security	1,31,952		Interest SB		1,212
Salaries	6,75,783
Audit Fees	17,524
III. Other Expenses			IV. Other Income
Depreciation			Tower Rent	1,96,642
Equipments	71,996		Less: Advance	(44,065)	1,52,577
Water Pump	1,858
Furniture	1,172	75,026

IV. Surplus/(Deficit)		1,32,980

Total		29,79,777	Total		29,79,777

Balance Sheet

Liabilities	Amount	Amount	Assets	Amount	Amount
Share Capital			Cash & Bank Balance
Authorised			Cash in hand	14,984
28000 shares of Rs 50 each		14,00,000	At Bank (also called Deposits)	2,36,071	2,51,055
Subscribed			Investments
350 shares of Rs 50 each		17,500	Fixed Deposits	61,37,752
Subscription/Deposits towards shares		-	Fixed Deposits SF	26,90,000
Reserve Fund and Other Funds			Add: Accrued Interest	70,299	88,98,051
Statutory Reserve Fund			Provident Fund Investments		-
Opening	1,35,515		(including advances to provident fund)
Add: Entrance Fees	200		Loans and Advances
Add: Transfer Fees	500	1,36,215	Prepaid Insurance	13,660
Sinking Fund			Prepaid Maintenance	15,571	29,281
Opening	67,12,745		Sundry Debtors
Addition	5,71,596		Dues from Members	60,236
Interest on SF FD	7,61,946	80,46,287	Advances- Staff	26,081	86,317
			Current Assets
Staff Provident Fund		-	Fixed Assets
Secured Loans		-	Equipments	3,90,256
Unsecured Loans		-	Less: Depreciation	(71,996)	3,18,260
Deposits		-	Furniture	11,718
Current Liabilities and Provisions			Less: Depreciation	(1,172)	10,546
Outstanding Expenses	5,97,603		Water Pump	12,390
Advance from Members	30,181		Less: Depreciation	(1,858)	10,532
Income received in advance	44,065	6,71,849
			Other Expenses and Losses
Unclaimed Dividend		-	Other Assets
Interest due but not paid		-	Tata Power Deposit	14,200
Other Liabilities		-	BMC Deposit for Water	6,625	20,825
Income & Expenditure account
Surplus for last year	6,19,986		Income & Expenditure account
Add: Current year surplus	1,32,980	7,52,966

Total		96,24,817	Total		96,24,817

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