Treasurer’s Report 2023 – 2024
The Horizon Club financial year runs from 1st April 2023 – 31st March 2024. The Accounts are complete for the year but need to be audited. The annual return can then be submitted to the Charity Commission. The audit is a requirement as the Club’s turnover is over £25,000 pa.
The starting balance for the year was £23,322. in the current account, £1,323. in the premium account and £88. in petty cash. The balance for the end of the year is £13,114. in the current account, £10,006. in the premium account and £187 in cash. There is £400 worth of stock in the tuck shop.
The total income for the year is £40,715.
The total outgoings for the year are £41,743.
Total grant funding in this year is £29,748 and total spend is £30,283. The funding year runs from Jan 2023 to Jan 2024 so there is a carry-over from the previous year. The grant funding is a restricted income.
The Clubs income after grant funding for the year is £10,967.
The Clubs spending after granting funded expenses for the year is £11,460.
The Clubs own main sources of income
Tuck shop turnover of £2,265 and a profit of £1,013.
Membership subs £2,780.
Raffle £2,213.
Fundraising £1,030.
Donations £2,524.
The Clubs main expenses
Entertainment £4,912.
Volunteer payments £1,859.
Rent of Bell Hall £1,108.
Seasonal gifts £1,078.
Club assets £1,278 (cupboard shelving, disco lights, laptop)
We have received generous donations, which have been allocated for specific projects, such as buying a laptop for the treasurer position, and purchasing disco lights.
The Committee is aware that the Club has been very fortunate to receive generous Lottery grants which have enabled us to increase the activities on offer to the members, but also the importance of the Club being able to fund itself without grant funding in the future.
The additional costs which the Club is facing include charges to the security company at Bodmin College to be able to use the hall during the holidays. As a concession to this the college has agreed to waive the hire charge for the hall during the term-time. This is thanks to much discussion between Karen and Bodmin College.
The grants have also enabled us to set up and run the website and office and to continue the annual Zoom subscription of £145 which has been useful to run Committee meetings online and saved committee members time and money being able to attend.
The Club is spending an increased amount on entertainment and we have been able to provide a wide range of entertainment during the year. The Committee agreed that the spending on more expensive entertainers should be limited to one or two per month and that the volunteers themselves would provide activities in between. The Club had sufficient funds to put on a Christmas meal for the volunteers at the Lanivet Inn, at a cost of £345, which was a great evening and gave everyone a chance to catch up outside of the Club evenings which are increasingly busy.
Not only is the Club going from strength to strength with increasing numbers of members, a team of volunteers, along with the Team Lead have taken on the running of Wadebridge Horizon Club. It started in January 2024, for one night a month; it was agreed that for now the Bodmin and District bank account would be used for the funds of both clubs. Some grant funding and donations were secured to assist with the setting up and initial running costs.
The Widening Horizons grant funding for our Team Lead will come to an end in 2025.
The branch of the bank which the club funds were previously being paid in at has now been closed, however it is possible to pay in through Post Offices, which has been happening very successfully.
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