|  | 2004 | 2003 | 
|  |  | £.p |  | £.p | 
| Fund brought forward at 1st January 2004 |  | 538.01 |  | 529.90 | 
| Excess (expenditure)/income |  | 772.57 |  | (91.89) | 
| Net transfer (to)/from reserves |  | (800.00) |  | 100.00 | 
|  |  | 
 |  | 
 | 
|  |  | £510.58 |  | £538.01 | 
|  |  | 
 |  | 
 | 
| Represented by:- | 
| ASSETS | 
| Guild simulator |  | 1.00 |  | 1.00 | 
| BSC lifting gear |  | 158.62 |  | 211.50 | 
| Stock of badges |  | 112.54 |  | 134.80 | 
| Peal fees due |  | 40.50 |  | 86.00 | 
| Sundry debtors |  |  |  | 61.70 | 
| Prepaid insurance |  | 30.06 |  | 23.29 | 
| Bank balance |  | 915.84 |  | 1,470.89 | 
|  |  | 
 |  | 
 | 
|  |  | 1,258.56 |  | 1,989.18 | 
| LIABILITIES | 
| Subs paid in advance | 421.05 |  | 1,145.90 |  | 
| Money held on behalf of CI Festival | 235.00 |  |  |  | 
| Sundry creditors | 91.93 | 747.98 | 305.27 | 1,451.17 | 
|  |  | 
 |  | 
 | 
|  |  | £510.58 |  | £538.01 | 
|  |  | 
 |  | 
 |