Page 16 - Pillar 3 Disclosure
P. 16


REVIEW OF THE YEAR




Summary Financial Statement








Year ended 30 November 2013
2013
2012

£000
£000
Results for the year



Net interest receivable
9,122 8,289 

Other income and charges 790
756
Administrative expenses
(6,236)
(5,893)

Provisions for bad and doubtful debts, 

contingent liabilities and commitments (138) (96) 
FSCS levy charge for the year
(372)
(243)



Profit for the year before taxation 3,166 2,813 

Taxation
(768)
(738)


Profit for the year
2,398
2,075


Financial position at end of year



Assets

Liquid assets 112,716 109,569 
Mortgages
484,656 463,492 

Fixed and other assets
4,002
3,143


Total assets
601,374
576,204



Liabilities

Shares
481,102 455,508 
Borrowings
83,056 85,532 

Other liabilities
2,926 3,090 

Net pension liability 849 831 
Subordinated liabilities 9,571 9,541 

Reserves
23,870
21,702



Total liabilities
601,374
576,204


Summary of key financial ratios

%% 
Gross capital as a percentage of shares and borrowings
5.86 5.77



Liquid assets as a percentage of shares and borrowings
19.98 20.25


Profit for the year as a percentage of mean total assets
0.41 0.38



Management expenses as a percentage of mean total assets
1.06 1.07




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