It can be seen from the accounts that the Kennel Club has again made a healthy surplus. While this surplus is not as high as that in 2005, it is none-the-less extremely satisfactory. The FRS17 pension provision this year shows a significant improvement and is based on actuaries’ assumptions for discount rates, inflation, etc. at 31 December 2006. These figures can be quite volatile and can dramatically affect the level of the provision. As previously noted, it is important that we manage the Kennel Club in a business like manner, whilst still recognising that it is more than a business - it is an institution with an important mission. We have continued to control costs and have undertaken some major new projects. The surplus generated by the commercial side of the Kennel Club is essential if we are to be able to invest in all the many activities undertaken in the interest of dog people and dogs.
The KC Annual Report 2006/7 can be viewed in its entirety at www.thekennelclub.org.uk
