Umsobomvu Youth Fund Annual Report 2006 - Nyda

incomestatementfor the year ended31 March 2006GROUP COMPANY2006 2005 2006 2005(Restated)(Restated)Notes Rand Rand Rand RandIncome 216 927 705 218 710 446 213 749 249 221 212 317Interest income 3 52 133 678 68 971 739 52 574 535 69 783 319Fees for services rendered 3 749 783 – – –Administration fees 1 1 833 766 1 098 538 1 964 236 1 098 538Profit from sale of investments 3 100 000 – 100 000 1 690 291Profit/(loss) from disposal of vehicles (31) 15 436 (31) 15 436Grant utilised 14 158 091 847 147 491 253 158 091 847 147 491 253Repayment of management fee 3 – (434 133) – (434 133)Fair value adjustment 9 842 629 1 562 086 842 629 1 562 086Other income 176 033 5 527 176 033 5 527Expenses (209 855 060) (177 609 352) (206 571 088) (177 609 352)Operating expenses (44 466 002) (30 118 099) (41 182 030) (30 118 099)Project disbursements 19 (165 389 058) (147 491 253) (165 389 058) (147 491 253)Surplus from operations 7 072 645 41 101 094 7 178 161 43 602 965Share of profits from joint venture – 4 925 499 – –Surplus for the year 3 7 072 645 46 026 593 7 178 161 43 602 965Attributable to outside shareholders (105 571) – – –Attributable to member 7 178 216 46 026 593 7 178 161 43 602 965Total 7 072 645 46 026 593 7 178 161 43 602 9651 The administration fee includes voucher income and management fees.Umsobomvu Youth Fund 2006 Financial Statements46