## _**The Friends of James Terry Court**_ 

PROVIDING SUPPORT WHERE IT COUNTS 

## **The Association of Friends of James Terry Court** 

90 Haling Park Road, South Croydon, Surrey, CR2 6NF Registered Charity 10237181 

Trustees’ Report Year to 31[st] March 2023 

We have pleasure in presenting our report and the accounts of the Association of Friends of James Terry Court for the year to 31[st] March 2023. 

## **Income:** 

As can be seen, income from Annual Family Membership up slightly on last year to £ 640.00this year. 

Donations and Patronage is £19,215.66 Higher than last year. 

Dividends and bank deposit interest declined this year. 

Fund Raising Events: 

Our numerous fundraising events through 2022- 2023 generated a sum of £6843.49. 

## **Expenses:** 

General expenses have been controlled at a satisfactory level. 

Expenses for the residents amounted to £32,503.46 which included Entertainment, Christmas and Birthday cards, Chiropody, and exercise. 

A deficit has been recorded for the year of £5,804.31. 

## **Accumulated Funds:** 

The piano fund, which was established in 1998 by Spring Park Lodge, is separately identified as such in the accounts. Although the fund assets remain merged with those of the unrestricted Fund. There has been no expenditure in respect of the piano fund in the past seven years. 

The value of the Friends shareholding in Group Santander has dipped this year. 

As shown last year there is now a “permanent” reserve of £30,000 to enable the friends to continue to provide on-going support for the residents should there ever be a catastrophic decrease in income levels. This reserve fund is clearly earmarked on the account and separated from the accumulated Unrestricted Funds. 

Tania Tibbs Treasurer 



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# **Association of Friends of James Terry Court Examiners Report for the Year ended 31[st] March 2023** 

I have examined the Accounts presented to us for the year ended 31[st] March 2023 and am satisfied that the accounts are an accurate record of the transactions for the year ended 31[st] March 2023 and that the Balance Sheet is an accurate representation of the position at that date. 

It has been a year of recovery after the national pandemic and the activities have been partially restarted. Total income amounted to £26,699.15 compared to £15,160.68 in the previous year. 

The expenditure for the year amounted to £32,503.46 (£16,616.35 in 2022). This sum included equipment in the sum of £7,202.24. 

The expenditure exceeded the income this year by £5,804.31 (£1,455.67 in 2022). 

The overall financial situation of the Friends Association is very sound, and it has substantial reserves to cover any unexpected expenditure, part of the work in the current year should be to consider what the association feels those reserves should be used for. 

I would like to congratulate Tania Tibbs for the way the records were presented, and the explanations received. I am pleased to recommend the adoption of the Accounts.