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Abridged Financial Statement for the year ended 31 December 2007

INCOME STATEMENT

For the year ended 31st December 2007

2007

2006

R

R

R

INCOME

2 320 130

1 951 295

  Donations

1 909 362

1 610 534

  Interest and Dividends

160 905

143 836

  TECSAT     (Administration Fee)

116 863

249 863

196 925

                  (Salary component)

133 000

EXPENSES

873 800

759 457

  Office Expenses

244 861

242 768

  Salaries   (ASF Staff Salaries)

430 939

628 939

516 689

                  (Honoraria)

65 000

                  (TECSAT Salaries)

133 000

SURPLUS AVAILABLE FOR AWARDS

1 446 330

1 191 838

AWARDS

(1 352 910)

(1 303 187)

SURPLUS FOR THE YEAR

93 420

(111 349)

BALANCE SHEET

2007

2006

R

R

ASSETS

CAPITAL TRUST FUND

60 400

60 400

TRUST and OTHER FUND INVESTMENT

1 678 841

1 518 037

CURRENT ASSETS

1 035 603

962 172

TOTAL ASSETS

2 774 844

2 540 609

Copies of our audited financial statements are available at the office on request.

The Trustees thank Messrs Browne & Associates, and in particular Richard Browne, for the prompt audit of our books.

Assets are shown at Market Value as at 31 December 2007.

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