20609A
																ANNEX

Example of application of formula by reference to figures in the bundle (example figures only)
(Page numbers refer to pages of the bundle)

S(G)	Subscription Income related to taxable supply

	Say Foregone Profit on advertising – YE 04				  379,624
	Cost to IBMS of publication of Br Jnl of BioMed Sc		    70,624
	(Say Per Page 134)							  450,248	    450,248

 S	Total value of subscriptions
	Total membership – (Say Per Page 134)				     15,294
	Average subscription based on YE 06 prices (Say Per Page 134)	            78
	Total sub							          £1,192,932	£1,192,932

 T	Value of Taxable supplies (Say Per Page 55)						       36,572

Step	Foregone Profit – retained by Step YE 04 (Say Per Page 134 (80%)    379,624
	Net profit to Inst.                                                                     (20%)       94,906
										    474,530	      474,530

 E	Value of other Exempt Supplies (Say Per Page 55)					        29,425

	Formula			S(G)+T+Step_____________
					S+T+Step+E

								                   S(G)	          S	           T	           STEP	    E		                  %
							i.e.	                450,248          0	         36572      474530	    0	961,350	         =     35.46
								                  0        1192932     36572    474530      29425     1733459