The North / South Language Body Annual Report & Accounts 2009

13 RECONCILIATION OF (DEFICIT) TO NET CASH INFLOW FROM OPERATING ACTIVITIES2009 2009 2008 2008STG £ € STG £ €Surplus/(Deficit) for the period 170,933 191,874 219,113 275,165Depreciation Charges 19,252 21,610 29,076 36,514Transfer from Capital Grant (19,252) (21,610) (29,076) (36,514)(Increase)/Decrease in Debtors 112,223 112,441 (147,800) (144,681)(Decrease)/Increase in Creditors (91,018) (72,520) (55,282) (192,314)Currency Translation Adjustment (13,879) 77,290Net Cash (Outflow)/Inflow from operating activities 192,138 217,916 16,031 15,460The currency translation adjustment reflects the amount of the movement in the value of current assets and liabilitieswhich is attributable to the change in exchange rates over the year.13.1 ANALYSIS OF CHANGES IN CASH AND CASH EQUIVALENTS2009 2009 2008 2008STG £ € STG £ €Opening balance 20,608 21,636 4,577 6,176Net cash inflow/(outflow) 192,138 217,916 16,031 15,460Closing balance 212,746 239,552 20,608 21,63613.2 ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS2009 2009 2008 2008STG £ € STG £ €Cash at Bank and in Hand 212,746 239,552 20,608 21,636During the year ended 31 December 2009 the Agency received funds from DAHG. These funds relate to the Monreaghproject and the Ulster-Scots Agency act as an intermediary body through which the funds are distributed to theMonreagh Project. The funds have not been recorded as income in the Ulster-Scots Agency accounts for the yearend 31 December 2009 as they fall within the classification of Third Party Assets. The funds are held in a separate Bankaccount in the name of the Ulster-Scots Agency and the balance at year-end was £677 (€760).14. COMMITMENTSi. There were no capital commitments as at 31 December 2009 for which provision had not been made.ii. At 31 December 2009 the Ulster-Scots Agency had annual commitments under non-cancellable operating leasesfor land and buildings as follows:2009 2009 2008 2008STG £ € STG £ €Leases expiring < 1 years 107,491 121,035 27,109 28,460Leases expiring between 2-5 years (inclusive) 392,451 441,900 26,707 28,039Leases expiring > 5 years 372,083 418,96551