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FTA surplus THE Freight Transport Association ended the financial year

23rd April 1976, Page 20
23rd April 1976
Page 20
Page 20, 23rd April 1976 — FTA surplus THE Freight Transport Association ended the financial year
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with a surplus of £32,483 of income over expenditure, according to its annual accounts published last week.

But the statement shows that the market value of the securities in which it has invested has dropped from £103,000 in 1974 to £31,000 at the end of the year.

The statement also shows that the Association paid £312,000 for its new office buildings in Tunbridge Wells and then spent 426,115 on converting them to offices.

Property in Nottingham that it sold realised £22,000, but there is a £142,000 mortgage on the Tunbridge Wells offices. No fees were paid to directors of the Association in either 1974 or '75.

Figures show that the FTA paid £9,203 in tax including £4,355 in Corporation Tax levied at 42 per cent.