Revenue Account
for the year ended 31 March 2007
| Notes | 2006/07 £'000 |
2005/06 £'000 |
|
|---|---|---|---|
| Turnover | 2 | 262,160 | 252,341 |
| Direct operating costs | 2 | (38,718) | (31,613) |
| Gross surplus | 2 | 223,442 | 220,728 |
| Administrative expenses | 4 | (13,271) | (12,321) |
| Indirect operating expenses | 5 | (766) | (1,030) |
| Recovery of capital expenditure | 9 | (28,008) | (27,087) |
| Operating surplus | 181,397 | 180,290 | |
| Indirect investment in property | 16 | 869 | – |
| (Loss)/profit on sale of fixed assets | (142) | 137 | |
| Income from gilt-edged investments | 794 | 1,523 | |
| (Loss) on sale of gilt-edged investments | 22 | (145) | – |
| Bank interest receivable | 24,631 | 15,645 | |
| FRS 17 Retirement benefits – net financing cost | 8 | (42) | (56) |
| Surplus on ordinary activities | 207,362 | 197,539 | |
| Parliamentary resource finance | 11 | 2,249 | 2,141 |
| Statutory transfers | 12 | (9,539) | (8,863) |
| Net revenue surplus | 200,072 | 190,817 | |
| Consolidated Fund payment | 13 | (200,000) | (188,000) |
| Residue carried to revenue reserve | 72 | 2,817 | |
| Revenue reserve brought forward | 7,457 | 4,640 | |
| Pension reserve adjustment | 31 | (2,854) | – |
| Revenue reserve carried forward | 4,675 | 7,457 |
The notes (including accounting policies) form part of these accounts.