We report on the financial statements of the Vingtaine de la Ville de St. Helier for the year ended 31st December 2011 on pages 2 to 4. These financial statements have been prepared under the accounting policies set out therein.

Respective responsibilities of Procureurs and Examiner

The Procureurs are responsible for the preparation of the accounts. The Vingtaine's Procureurs consider that an audit is not required and that an independent examination is appropriate this year.

It is our responsibility to:

• examine the financial statements: and
• state whether particular matters have come to our attention.

Basis of opinion

Our examination was carried out in accordance with the General Directions given by the UK Charity Commissioners.

An examination includes a review of the accounting records kept by the Vingtaine and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the Committee concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent Examiner's Statement

In connection with our examination, no matter has come to our attention:

1. which gives us reasonable cause to believe that in any material respect the requirements:
   • to keep proper accounting records; and
   • to prepare accounts which accord with the accounting records have not been met;

or

2. to which in our opinion, attention should be drawn in to enable a proper understanding of the financial statements to be reached.

ALEX PICOT

Chartered Accountants
31 July 2012

Page 1

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INCOME
United Kingdom Government
stock interest
Bank deposit interest

EXPENDITURE
Water rates
Insurance
Advertising
Audit and accountancy fee
Bank charges
Maintenance of Allix's Shipyard
Replacement of lighting at Allix's Shipyard
Repairs to mosaic at Allix's Shipyard
Regent Road mural
Sundry expenses

17
425
285
-
40
2,989
-
200
-
     25

5,152

3,981

 
 
 £1,171

16
303
338
413
25
1,968
2,083
350
681
     25

2,904

6,202

  
 
£(3,298)

 
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
 

Total recognised (losses) and gains

(1,569)
1,171

£(398)

(1,166)
(3,298)

£(4,464)

The notes on page 4 form part of these financial statements.
Independent Examiner's Report - Page 2

LA VINGTAINE DE LA VILLE DE ST HELIER
BALANCE SHEET AT 31 DECEMBER 2011

ACCUMULATED FUNDS
Balance at 1 January 2011
Net (loss)/revenue for the year

Balance at 31 December 2011
INVESTMENT RESERVE

FIXED ASSETS

INVESTMENTS

CURRENT ASSETS
Cash at bank and in hand
Debtors

CREDITORS: Amounts falling due
within one year

NET CURRENT ASSETS

M J LE BOUTILLIER Procureur
27 July 2012

The notes on page 4 form part of these financial statements.
Independent Examiner's Report - Page 3

LA VINGTAINE DE LA VILLE DE ST HELIER
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2011

1 ACCOUNTING POLICIES

1.1 Basis of accounting

The financial statements have been prepared under the historical cost convention, modified by the annual revaluation of investments, and in accordance with accounting principles generally accepted in the Channel Islands.

1.2 Income

Income is accounted for on an accruals basis.

1.3 Fixed assets

Real property is stated in the Balance Sheet at cost.

1.4 Investments

Investments are stated in the financial statements at their market value at the balance sheet date, the unrealised appreciation or depreciation being taken to the investment revaluation reserve.

Investments are valued at the mid market value on the last business day in the financial period.

Vingtaine bank notes are included at Procureurs' valuation.
 

2. INVESTMENT RESERVES
 

Balance at 1 January 2010
Unrealised depreciation on revaluation
of investments
Balance at 31 December 2010

3. FIXED ASSETS

Real property at cost:
Regency Arch, Regent Road
Allix's Shipyard, Havre des Pas

Investment
realisation
     £     
2,585

       0
2,585

2011
£    

6,742
  17,410
£24,152
 

Total
 
£    
4,539
 
(1,569)
2,970

2010
£    

6,742
   17,410
£24,152
 

£23,000 7¾% Treasury Loan 2012/15
Vingtaine bank notes at Procureurs' valuation

2011
£    
22,720
  1,023
23,743

2011
£    
23,106
  1,023
24,129

2010
£    
24,674
  1,023
25,697

Independent Examiner's Report - Page 4