HORSE SPORT IRELAND
71
Financial Ov
ervie
w
Annual Report
2013
HORSE SPORT IRELAND
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2013
13. COMMITMENTS UNDER OPERATING LEASES
At 31st December 2013 the company had annual commitments under
non-cancellable operating leases as set out below.
Land and buildings
2013
2012
Operating leases which expire:
Within 1 year
100,391
105,703
Within 2 to 5 years
200,782
317,110
301,173
422,813
14. RELATED PARTY TRANSACTIONS CONSTITUTION
No transactions with related parties were undertaken such as are required
to be disclosed under Financial Reporting Standard 8.
15. COMPANY LIMITED BY GUARANTEE
The company is limited by guarantee without having a share capital.
16. RECONCILIATION OF OPERATING PROFIT TO NET CASH
INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES
2013
2012
Operating surplus
159,054
23,646
Increase in stocks
(11,375)
(20,520)
Increase in debtors
(82,485)
(68,849)
Increase in creditors
61,982
52,535
Net cash inflow/(outflow) from operating activities
127,176
(13,188)
17. RECONCILIATION OF NET CASH FLOW TO
MOVEMENT IN NET FUNDS
2013
2012
Increase/(Decrease) in cash in the period
114,956
(10,434)
Movement in net funds in the period
114,956
(10,434)
Net funds at 1 January 2013
273,852
284,286
Net funds at 31 December 2013
388,808
273,852