Self-test Staff at Bromsgrove High School take students camping each year during the summer holiday. The School Camp accounts showed the following balances on 1 August 2001, immediately after the 2001 camp:

tents £20,000;

cash at bank £6,200;

pots and pans £460;

debtors £320.

Three hundred students attended the 2002 Camp, paying fees of £100 each. The students operated in groups of five and paid £5 per group for ownership of a map of their walking area.

Payments relating to the 2002 Camp were as follows:

hire of coaches £7,500;

site fees £6,000;

purchase of additional tents £5,000;

purchase of food and drink £4,000;

mountain rescue fees £280;

ambulance fees £150;

staff travelling expenses £2,300;

maps £420.

On 31 July 2002, site fees of £225 were still outstanding, a stock of tinned food was valued at £400 and there was £10,970 at the bank. Debtors remaining after the 2001 camp were written off as irrecoverable. Total fixed assets were to be depreciated by £1,800.

(a) Prepare the income and expenditure account for the Bromsgrove High School Camp for the year ended 31 July 2002.

(b) Explain how the accumulated fund was made up at 1 August 2001.

(c) Using the available information, explain whether you would increase or decrease the fees to be charged to students for the next camp in 2003. Give two reasons for whatever course of action you think appropriate.