EC Meeting Papers July 2018

GENERAL FEDERATION OF TRADE UNIONS EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2017

13.

Creditors: amounts falling due within one year

Group

2017

2016

£

£

Trade creditors

232,589

117,136

Amounts due to GFTU

1,604,135

1,472,800

Taxation and social security

62,133 229,580

51,408 111,107

Other creditors

Taxation Accruals

-

-

27,893

6,000

2,156,330

1,759,134

Trust

2017

2016

£

£

Trade creditors

57,810

25,029

Amounts due to GFTU

1,604,135

1,178,230

Taxation and social security

-

-

Other creditors

3,937 6,500

32,337

Accruals

6,000

1,672,382

1,241,596

14.

Financial commitments

The Trust and the General Federation of Trade Unions are committed to making the following annual contribution to the General Federation of Trade Unions Pension Scheme:

2017

2016

£

£

Expiry date: Within one year

70,000 280,000 700,000

70,000 280,000 770,000

Within two to five years In more than five years

1,050,000

1,120,000

15.

Analysis of net assets between funds

2017 Total funds

2016 Total funds

Unrestricted fund

Restricted funds

£

£

£

£

Fixed assets

-

-

-

-

Net current assets/(liabilities)

(1,241,824)

1,970,440

728,616

1,147,085)

(1,241,824)

1,970,440

728,616

1,147,085

20