13. RECONCILIATION OFMOVEMENT IN RESERVES Opening reserves Deficit for the year Closing reserves
2012 1,134,227 (182,493) 951,734
2011 ££ 1,142,895 (8,668) 1,134,227
14.NET CASH FLOWFROMOPERATING ACTIVITIES Operating deficit Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash inflow/(outflow) fromoperating activities
2012 (242,186) 67,033 851,488 676,335
2011 ££ (25,910) (69,205) (467,679) (562,794)
15.ANALYSIS OF CASH FLOWS FOR HEADINGS NETTED IN CASH FLOWSTATEMENT
2012
Returns on investments and servicing of finance Interest received
2011 ££
19,055
20,178
16. ANALYSIS OF CHANGES IN NET FUNDS
1 April 2011
Cash at bank and in hand Net funds 1,607,783 1,607,783
Cash flow
31March 2012
££ £ 764,803 764,803 2,372,586 2,372,586
Annual Report 2011-2012 17
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