THE LADY HAIG POPPY FACTORY LIMITED

Directors' Statement on Summarised Financial Statements

The Summarised financial statements set out on pages 3 and 4 have been extracted from the full
financial statements which were approved on 8th June 2004 and do not constitute the charity's statutory
financial statements. The financial statements for the years ended 31 March 2003 and 31 March 2004
have been delivered to the Registrar of Companies.

These summarised financial statements may not contain sufficient information to allow for a full
understanding of the financial affairs of the Charity. For further information the full financial statements,
the auditors report on these financial statements and the report of the directors should be consulted.
Copies of the full financial statements can be obtained from The Lady Haig Poppy Factory Limited.

Approved by the Board of Directors and signed on their behalf by:-

Richard Smith
Chairman

John W MacKay
Director

1
INDEPENDENT AUDITORS’ STATEMENT TO THE DIRECTORS OF THE LADY HAIG POPPY
FACTORY LIMITED

We have examined the summarised financial statements of The Lady Haig Poppy Factory Limited.

Respective responsibilities of trustees and auditors

The Directors are responsible for preparing the summarised financial statements in accordance with the
recommendations of the charities SORP.

Our responsibility is to report to you our opinion on the consistency of the summarised financial statements with the
full financial statements and the Report of the Directors. We also read the other information contained in the
summarised annual report and consider the implications for our report if we become aware of any apparent
misstatements or material inconsistencies with the summarised financial statements.

Basis of opinion
We conducted our work in accordance with Bulletin 1999/6 “The auditors’ statement on the summary financial
statement” issued by the Auditing Practices Board for use in the United Kingdom.

Opinion

In our opinion the summarised financial statements are consistent with the full financial statements and the Report
of the Directors of The Lady Haig Poppy Factory Limited for the year ended 31 March 2004.

CHIENE & TAIT CA

Registered Auditors
61 Dublin Street
Edinburgh EH3 6NL

2004

2
THE LADY HAIG POPPY FACTORY LIMITED

Statement of Financial Activities (incorporating an Income and Expenditure Account)

For the year ended 31 March 2004

Unrestricted Designated Totals Unrestricted Designated Totals
Funds Funds Funds Funds
2004 2004 2004 2003 2003 2003
£ £ £ £ £ £

Incoming Resources

Donations and Similar Receipts 2 5,334 17,948 23,282 17,469 17,469

Activities in furtherance of the charity's objectives 3 553,233 553,233 556,666 556,666

Investment Income 2,884 2,884 4,605 4,605

Total Incoming Resources 561,451 17,948 579,399 561,271 17,469 578,740

Resources Expended

Charitable Expenditure
Costs of activities in furtherance of the charity's
objectives 4 467,379 16,778 484,157 466,230 17,169 483,399

Management and administration 5 119,284 119,284 121,549 121,549

Total charitable expenditure 586,663 16,778 603,441 587,779 17,169 604,948

Total Resources Expended 586,663 16,778 603,441 587,779 17,169 604,948

Net Movement in funds for the year 12 (25,212) 1,170 (24,042) (26,508) 300 (26,208)

Total funds at 1 April 2003 348,072 18,455 366,527 374,580 18,155 392,735

Total funds at 31 March 2004 322,860 19,625 342,485 348,072 18,455 366,527

All of the above results are derived from continuing activities. All gains and losses recogised in the year are included above. The
(deficit)/surplus for the year for Companies Act purposes comprises the net movement in funds for the year.

3
THE LADY HAIG POPPY FACTORY LIMITED

BALANCE SHEET

As at 31 March 2004

2004 2003
Notes £ £ £
Fixed Assets
Tangible Assets 7 31,555 45,279

Current Assets:
Stock 8 187,842 177,881
Debtors 9 11,321 11,470
Cash at Bank and on hand 118,084 137,584
317,247 326,935
Creditors: Amounts falling due within one year 10 5,317 4,687

Current assets less current liabilities 311,930 322,248

Net assets 343,485 367,527

Funds:
Called up share capital 11 1,000 1,000
Unrestricted Funds: 12
Designated fund 19,625 18,455
Capital fund 13,386 15,802
General Fund 309,474 332,270
Total funds 343,485 367,527

These financial statements have been prepared in accordance with the special provisions of Part VII of the Companies Act 1985
applicable to smaller companies and in accordance with Financial Reporting Standard for Smaller Entities (effective June 2002) and
were approved by the Board of Directors and signed on their behalf by:-

Richard Smith
Chairman

John W Mackay
Director

8th June 2004