Treasurer’s Report – 2022
I had hoped I would be able to say “this year has been a successful year after all our Covid problems” but it seemed that some members were still hesitant in coming back to the main meetings and supporting us in the events we tried to organise. Some events were well attended, some we had to support at a small loss and one had to be cancelled.
I have no financial concerns to report. The General Account surplus is showing a small decrease compared to last year. This is to be expected as we did not receive any Gift Aid income (because no membership fee was charged in 2021) and we also supported some events at a small loss. It should be noted that some of the monies held in the General Account belong to our Groups and are therefore not available for general use. We have purchased no new assets in 2022.
It should be noted that we do not write off small assets over three years – we buy them outright.
There was a small increase in the Travel Account surplus. We did support some outings at a small loss, though this was offset by a few outings which did make small profits. I have no concerns about this account.
It is unfortunate that we have seen steady, but small, increases in costs during the year. The committee therefore decided to increase the membership fee to £17. It should be remembered that the fee has not increased since 2015 when I became treasurer.
There is a separate document which attempts to explain how we calculate the surplus and also a more detailed financial report. If you would like to see these documents or if you have any questions, please contact me via the contacts page on the website and I will respond either personally or at the AGM.
The accounts are audited by Doug Barrow of Weston Turville u3a.
Pete Shaw - treasurer
| Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Adjustments | ||||||||||||||||||||||
| Subspaid | Subspaid | Fixed asset | Defer fixed | Net Total | ||||||||||||||||||
| Income | B/fwd@ 31/12/2021 | January | February | March | April | May | June | July | August | Sept | October | November | December | Total YTD | in 2021 | for 2023 | depreciation | asset costs | YTD | |||
| Subs | 240.00 | 3,120.00 | 390.00 | 94.00 | 15.00 | 30.00 | 0.00 | 15.00 | 7.50 | 15.00 | 15.00 | 51.00 | 204.00 | 3,956.50 | 240.00 | 255.00 | 3,941.50 | |||||
| GroupIncome | 54.00 | 438.50 | 214.00 | 180.00 | 186.00 | 486.50 | 293.50 | 66.00 | 825.50 | 248.00 | 74.00 | 473.00 | 3,539.00 | 3,539.00 | ||||||||
| Interest on Deposit Account | 1.01 | 0.00 | 0.00 | 0.99 | 0.00 | 0.00 | 2.06 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.06 | 4.06 | ||||||||
| Gift Aid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| Other | 30.00 | 0.00 | 0.00 | 137.75 | 68.00 | 0.00 | 40.00 | 40.00 | 0.00 | 15.42 | 0.00 | 0.00 | 115.17 | 115.17 | ||||||||
| Total | 3,205.01 | 828.50 | 308.00 | 333.74 | 148.00 | 486.50 | 350.56 | 33.50 | 840.50 | 278.42 | 125.00 | 677.00 | 7,614.73 | 240.00 | 255.00 | 0.00 | 0.00 | 7,599.73 | ||||
| Expenditure | ||||||||||||||||||||||
| Main MeetingCosts | 124.17 | 116.85 | 288.97 | 116.85 | 55.80 | 176.05 | 111.85 | 157.12 | 141.85 | 151.85 | 182.75 | 228.55 | 1,852.66 | 1,852.66 | ||||||||
| GroupHall Hire | 156.75 | 198.30 | 357.70 | 239.70 | 395.20 | 240.20 | 277.20 | 221.70 | 145.80 | 253.70 | 196.20 | 323.70 | 3,006.15 | 3,006.15 | ||||||||
| General Expenses | 83.97 | 368.40 | 23.00 | 0.00 | 23.99 | 109.71 | 0.00 | 0.00 | 0.00 | 3.80 | 0.00 | 0.00 | 612.87 | 612.87 | ||||||||
| GroupExpenses | 122.46 | 0.00 | 85.00 | 0.00 | 0.00 | 50.00 | 0.00 | 0.00 | 0.00 | 459.55 | 0.00 | 28.00 | 745.01 | 745.01 | ||||||||
| U3A Membership/Direct Mail/CLA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 60.00 | 960.00 | 137.35 | 0.00 | 0.00 | 0.00 | 0.00 | 1,157.35 | 1,157.35 | ||||||||
| Other | 0.00 | 0.00 | 0.00 | 69.75 | 0.00 | 0.00 | 191.38 | 43.16 | 0.00 | 50.00 | 36.75 | 110.58 | 501.62 | 501.62 | ||||||||
| Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| Total | 487.35 | 683.55 | 754.67 | 426.30 | 474.99 | 635.96 | 1,540.43 | 559.33 | 287.65 | 918.90 | 415.70 | 690.83 | 7,875.66 | 0.00 | 0.00 | 0.00 | 0.00 | 7,875.66 | ||||
| Reported Surplus | 275.93 | |||||||||||||||||||||
| Deposit a/c | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | |||||||||
| Main a/c | 8,292.10 | 11,009.76 | 11,154.71 | 10,708.04 | 10,615.48 | 10,288.49 | 10,139.03 | 8,949.16 | 8,423.33 | 8,976.18 | 8,335.70 | 8,045.00 | 8,031.17 | |||||||||
| Total | 15,009.76 | 15,154.71 | 14,708.04 | 14,615.48 | 14,288.49 | 14,139.03 | 12,949.16 | 12,423.33 | 12,976.18 | 12,335.70 | 12,045.00 | 12,031.17 | ||||||||||
| of which,belongs togroups | 2,839.86 | 2,614.65 | 2,884.85 | 2,690.15 | 2,594.35 | 2,391.25 | 2,520.15 | 2,532.35 | 2,376.65 | 3,056.35 | 2,591.10 | 2,190.82 | 2,412.12 | |||||||||
| Curr Acc: Balance net ofgroupfunds | 5,452.24 | 8,395.11 | 8,269.86 | 8,017.89 | 8,021.13 | 7,897.24 | 7,618.88 | 6,416.81 | 6,046.68 | 5,919.83 | 5,744.60 | 5,854.18 | 5,619.05 | |||||||||
| Comparative Total 2021 | 14,729.38 | 14,594.38 | 14,459.38 | 13,204.77 | 13,044.77 | 12,970.47 | 12,655.89 | 12,623.99 | 13,426.41 | 12,401.81 | 12,353.99 | 12,292.10 | ||||||||||
| Variance on Comparative 2022>2021 | 280.38 | 560.33 | 248.66 | 1,410.71 | 1,243.72 | 1,168.56 | 293.27 | 200.66 | 450.23 | 66.11 | 308.99 | 260.93 |
| Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | Aston Clinton U3A- General Account- 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Adjustments | ||||||||||
| Subspaid | Subspaid | Fixed asset | Defer fixed | Net Total | ||||||
| Income | B/fwd@ 31/12/2021 | Total YTD | in 2021 | for 2023 | depreciation | asset costs | YTD | |||
| Subs | 240.00 | 3,956.50 | 240.00 | 255.00 | 3,941.50 | |||||
| GroupIncome | 3,539.00 | 3,539.00 | ||||||||
| Interest on Deposit Account | 4.06 | 4.06 | ||||||||
| Gift Aid | 0.00 | 0.00 | ||||||||
| Other | 115.17 | 115.17 | ||||||||
| Total | 7,614.73 | 240.00 | 255.00 | 0.00 | 0.00 | 7,599.73 | ||||
| Expenditure | ||||||||||
| Main MeetingCosts | 1,852.66 | 1,852.66 | ||||||||
| GroupHall Hire | 3,006.15 | 3,006.15 | ||||||||
| General Expenses | 612.87 | 612.87 | ||||||||
| GroupExpenses | 745.01 | 745.01 | ||||||||
| U3A Membership/Direct Mail/CLA | 1,157.35 | 1,157.35 | ||||||||
| Other | 501.62 | 501.62 | ||||||||
| Assets | 0.00 | 0.00 | ||||||||
| Total | 7,875.66 | 0.00 | 0.00 | 0.00 | 0.00 | 7,875.66 | ||||
| Reported Surplus | 275.93 | |||||||||
| Deposit a/c | 4,000.00 | |||||||||
| Main a/c | 8,292.10 | |||||||||
| Total | ||||||||||
| of which,belongs togroups | 2,839.86 | |||||||||
| Curr Acc: Balance net ofgroupfunds | 5,452.24 | |||||||||
| Comparative Total 2021 | ||||||||||
| Variance on Comparative 2022>2021 |
07/01/2023
- ASTON CLINTON U3A General Account Balance Sheet 2022
| Balance Sheet 31stDecember 2022 Assets: Surplus Brought Forward from 31.12.2021 Surplus for year ended 31.12.2022 Total Balance comprises: Bank account (Lloyds TSB Bank Plc) Monies held on behalf of Groups 2023 subscription pre-payments Deposit account (Scottish Widows Bank) Cash in Hand Total Fixed Assets Total |
2022 12,052.10 275.93 11,776.17 8,031.17 0.00 2,412.12 255.00 4,000.00 0.00 11,776.17 0.00 11,776.17 |
2021 14,412.48 2,360.38 |
2,839.86 |
|---|---|---|---|
| 12,052.10 8,292.10 240.00 4,000.00 0.00 |
|||
| 12,052.10 0.00 |
|||
| 12,052.10 |
Certified that the above balance sheet and the appended Income and Expenditure statements have been prepared from the computer records, bank statements and invoices and are a complete and accurate record of the General Account of Aston Clinton u3a.
......................................... Pete Shaw Treasurer
.............................................. …………. Doug Barrow Date Independent Examiner
10/01/2023
1010112023
Aston Clinton U3A - Travel Account - 2022
| Event Social/Admin Theatre bucket Pending refunds Yorkshire bucket Yorkshire (2022) St George's Day Maritime Museum Sixties Night S&T Chicksands Canterbury S&T Bentley Priory S&T Silverstone Nurthumberland 2023 Mela Lacock Abbey S&T Jordans Mill S&T Xmas Lunch London Museums S&T London Transport Walkers Xmas lunch S&T Design Museum |
Da 01/0 01/0 01/0 26/0 24/0 27/0 26/0 30/0 06/0 25/0 27/0 01/0 31/1 17/0 28/0 14/1 28/1 24/0 09/1 22/0 A/C le |
dep b/f exp b/f te 1/2022 54.00 1/2022 68.00 1/2022 339.57 4/2022 4/2022 1/2022 3/2022 3/2022 4/2022 5/2022 7/2022 5/2022 0/2022 8/2022 9/2022 2/2022 1/2022 1/2023 2/2022 2/2023 Travel A/C b/f 3,024.01 Travel A/C to date ss Adv Pay (approx) |
January | January | February | February | March | March | April | April | May | May | June | June | 0.00 1.25 1.25 1.25 0.00 0.00 54.00 0.00 32.00 33.00 67.00 1.00 0.00 0.00 339.57 0.00 14,201.00 14,203.46 2.46 2.46 1,058.50 1,012.15 46.35 46.35 484.00 570.00 86.00 86.00 1,302.00 1,066.19 235.81 235.81 528.00 530.00 2.00 2.00 1,206.00 1,234.00 28.00 28.00 574.00 646.00 72.00 72.00 1,015.00 990.00 25.00 25.00 2,819.00 1,526.00 1,293.00 1,293.00 1,973.00 1,968.00 5.00 5.00 748.00 740.00 8.00 8.00 837.00 750.00 87.00 87.00 1,250.00 0.00 1,250.00 1,250.00 590.00 665.00 75.00 75.00 930.00 870.00 60.00 60.00 1,084.00 1,066.00 18.00 18.00 324.00 0.00 324.00 324.00 30,955.50 27,871.05 3,546.02 3,084.45 Income Expenditure Balance (year) Balance (to date) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | Expenditure | Income | Expenditure | Income | Expenditure | Income | Expenditure | Income | Expenditure | Income | Expenditure | ||||
| 1.25 | |||||||||||||||
| 21.00 | 53.00 | 16.00 | 17.00 | ||||||||||||
| 4,300.00 | 3,391.00 | 5,859.00 | 53.00 | 651.00 | 13,410.00 | 740.46 | |||||||||
| 462.00 | 411.00 | 245.50 | 39.00 | 112.15 | 21.00 | 900.00 | |||||||||
| 484.00 | 570.00 | ||||||||||||||
| 663.00 | 323.00 | 323.00 | 996.44 | 7.00 | 69.75 | ||||||||||
| 432.00 | 96.00 | 530.00 | |||||||||||||
| 180.00 | 972.00 | 54.00 | 1,234.00 | ||||||||||||
| 340.00 | 68.00 | 450.00 | 103.00 | ||||||||||||
| 35.00 | 910.00 | ||||||||||||||
| 1,380.00 | |||||||||||||||
| 5,888.00 | 570.00 | 4,737.00 | 0.00 | 7,548.50 | 1,596.69 | 1,034.00 | 14,825.90 | 47.00 | 1,350.00 | 2,393.00 | 757.46 | ||||
| 8,342.01 | 13,079.01 | 19,030.82 | 5,238.92 | 3,935.92 | 5,571.46 | ||||||||||
| 2,476.00 | 2,476.00 | 2,586.00 | 2,681.00 | 2,685.00 | 2,646.00 |
02/01/2023
Aston Clinton U3A - Travel Account - 2022
| Event Social/Admin Theatre bucket Pending refunds Yorkshire bucket Yorkshire (2022) St George's Day Maritime Museum Sixties Night S&T Chicksands Canterbury S&T Bentley Priory S&T Silverstone Nurthumberland 2023 Mela Lacock Abbey S&T Jordans Mill S&T Xmas Lunch London Museums S&T London Transport Walkers Xmas lunch S&T Design Museum |
Da 01/ 01/ 01/ 26/ 24/ 27/ 26/ 30/ 06/ 25/ 27/ 01/ 31/ 17/ 28/ 14/ 28/ 24/ 09/ 22/ A/C le |
dep b/f exp b/f te 01/2022 54.00 01/2022 68.00 01/2022 339.57 04/2022 04/2022 01/2022 03/2022 03/2022 04/2022 05/2022 07/2022 05/2022 10/2022 08/2022 09/2022 12/2022 11/2022 01/2023 12/2022 02/2023 Travel A/C b/f 3,024.01 Travel A/C to date ss Adv Pay (approx) |
July | July | August | August | September | September | October | October | November | November | December | December | 0.00 1.25 1.25 1.25 0.00 0.00 54.00 0.00 32.00 33.00 67.00 1.00 0.00 0.00 339.57 0.00 14,201.00 14,203.46 2.46 2.46 1,058.50 1,012.15 46.35 46.35 484.00 570.00 86.00 86.00 1,302.00 1,066.19 235.81 235.81 528.00 530.00 2.00 2.00 1,206.00 1,234.00 28.00 28.00 574.00 646.00 72.00 72.00 1,015.00 990.00 25.00 25.00 2,819.00 1,526.00 1,293.00 1,293.00 1,973.00 1,968.00 5.00 5.00 748.00 740.00 8.00 8.00 837.00 750.00 87.00 87.00 1,250.00 0.00 1,250.00 1,250.00 590.00 665.00 75.00 75.00 930.00 870.00 60.00 60.00 1,084.00 1,066.00 18.00 18.00 324.00 0.00 324.00 324.00 30,955.50 27,871.05 3,546.02 3,084.45 Income Expenditure Balance (year) Balance (to date) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | Expenditure | Income | Expenditure | Income | Expenditure | Income | Expenditure | Income | Expenditure | Income | Expenditure | ||||
| 35.00 | 196.00 | 28.00 | |||||||||||||
| 70.00 | 990.00 | ||||||||||||||
| 189.00 | 1,526.00 | 1,250.00 | |||||||||||||
| 282.00 | 640.00 | 120.00 | 842.00 | 209.00 | 1,848.00 | ||||||||||
| 594.00 | 154.00 | 740.00 | |||||||||||||
| 728.00 | 109.00 | 750.00 | |||||||||||||
| 50.00 | 600.00 | 525.00 | 75.00 | ||||||||||||
| 384.00 | 206.00 | 665.00 | |||||||||||||
| 372.00 | 558.00 | 380.00 | 490.00 | ||||||||||||
| 556.00 | 40.00 | 528.00 | 1,026.00 | ||||||||||||
| 324.00 | |||||||||||||||
| 1,170.00 | 2,712.00 | 1,550.00 | 860.00 | 1,001.00 | 750.00 | 1,565.00 | 0.00 | 1,845.00 | 2,933.00 | 2,177.00 | 1,516.00 | ||||
| 4,029.46 | 4,719.46 | 4,970.46 | 6,535.46 | 5,447.46 | 6,108.46 | ||||||||||
| 2,650.00 | 2,656.00 | 2,773.00 | 2,773.00 | 2,750.00 | 2,740.00 |
02/01/2023
Aston Clinton U3A - Travel Account - 2022
| dep b/f exp b/f Event Date Social/Admin 0.00 1.25 1.25 1.25 Theatre bucket 01/01/2022 54.00 0.00 0.00 54.00 0.00 Pending refunds 01/01/2022 68.00 32.00 33.00 67.00 1.00 Yorkshire bucket 01/01/2022 339.57 0.00 0.00 339.57 0.00 Yorkshire (2022) 26/04/2022 14,201.00 14,203.46 2.46 2.46 St George's Day 24/04/2022 1,058.50 1,012.15 46.35 46.35 Maritime Museum 27/01/2022 484.00 570.00 86.00 86.00 Sixties Night 26/03/2022 1,302.00 1,066.19 235.81 235.81 S&T Chicksands 30/03/2022 528.00 530.00 2.00 2.00 Canterbury 06/04/2022 1,206.00 1,234.00 28.00 28.00 S&T Bentley Priory 25/05/2022 574.00 646.00 72.00 72.00 S&T Silverstone 27/07/2022 1,015.00 990.00 25.00 25.00 Nurthumberland 2023 01/05/2022 2,819.00 1,526.00 1,293.00 1,293.00 Mela 31/10/2022 1,973.00 1,968.00 5.00 5.00 Lacock Abbey 17/08/2022 748.00 740.00 8.00 8.00 S&T Jordans Mill 28/09/2022 837.00 750.00 87.00 87.00 S&T Xmas Lunch 14/12/2022 1,250.00 0.00 1,250.00 1,250.00 London Museums 28/11/2022 590.00 665.00 75.00 75.00 S&T London Transport 24/01/2023 930.00 870.00 60.00 60.00 Walkers Xmas lunch 09/12/2022 1,084.00 1,066.00 18.00 18.00 S&T Design Museum 22/02/2023 324.00 0.00 324.00 324.00 Travel A/C b/f 3,024.01 30,955.50 27,871.05 3,546.02 3,084.45 Income Expenditure Balance (year) Balance (to date) |
Adjustments to surplus | Adjustments to surplus | 1.25 0.00 0.00 0.00 2.46 46.35 86.00 235.81 2.00 28.00 72.00 25.00 0.00 5.00 8.00 87.00 0.00 75.00 0.00 18.00 0.00 Reported surplus |
|---|---|---|---|
| relatingto 2022 Add back payments made in 2021 |
deferred to 2023 Payments received in 2022 that need to be |
||
| 54.00 54.00 68.00 67.00 339.57 339.57 1,293.00 1,250.00 60.00 324.00 |
|||
| 461.57 3,387.57 |
158.45 |
Travel A/C to date A/C less Adv Pay (approx)
05/01/2023
- ASTON CLINTON U3A TRAVEL/SOCIAL ACCOUNT 2022
| Assets: Surplus brought forward from 31.12.2020 Surplus for year ended 31.12.2021 Total Balance comprises: Bank account (Lloyds TSB Bank Plc) Total Prepayments relating to 2023 Total Balance Sheet 31stDecember 2021 Cash in hand |
2022 2,562.44 158.45 |
2021 2,854.69 292.25 |
|---|---|---|
| 2,720.89 6,108.46 0.00 6,108.46 |
2,562.44 3,024.01 0.00 3,024.01 |
|
| 3,387.57 | 461.57 | |
| 2,720.89 | 2,562.44 |
Certified that the above balance sheet and the appended Income and Expenditure statements have been prepared from the computer records, bank statements and invoices and are a complete and accurate record of the Travel Account of the Aston Clinton U3A.
......................................... ................................. ………………………… Pete Shaw Doug Barrow Date Treasurer Independent Examiner
05/01/2023
- ASTON CLINTON U3A Consolidated Account Balance Sheet 2022
| Balance Sheet 31stDecember 2022 General Account Balance comprises: Bank account (Lloyds TSB Bank Plc) Monies held on behalf of Groups 2023 subscription pre-payments Deposit account (Scottish Widows Bank) Cash in Hand Total Fixed Assets Total Travel Account Balance comprises: Bank account (Lloyds TSB Bank Plc) Cash in hand Total Pre-payments relating to 2023 Total Net Value of Holdings for ACU3A at relevant year end: |
2022 8,031.17 2,412.12 255.00 4,000.00 0.00 11,776.17 0.00 11,776.17 |
2022 8,031.17 2,412.12 255.00 4,000.00 0.00 11,776.17 0.00 11,776.17 |
2021 8,292.10 240.00 4,000.00 0.00 |
2,550.65 |
|---|---|---|---|---|
| 12,052.10 0.00 |
||||
| 12,052.10 | ||||
| 6,108.46 0.00 6,108.46 |
3,024.01 0.00 3,024.01 |
|||
| 3,387.57 | 461.57 | |||
| 2,720.89 | 2,562.44 | |||
| 14,497.06 | 14,614.54 |
Certified that the above balance sheet and the appended Income and Expenditure statements have been prepared from the computer records, bank statements and invoices and are a complete and accurate record of the accounts of Aston Clinton U3A.
......................................... Pete Shaw Treasurer
.............................................. …………. Doug Barrow Date Independent Examiner
Understanding the 2022 end-of-year accounts
The basic concept of the accounts is the surplus (which I’ll now call “worth” as I think it is more meaningful). The worth is the value of all the assets and liabilities at the end of the year and is a bit like your estate when you finally pass on to a better place. Each year the worth changes but the basic calculation is:
worth(2022) = worth(2021) + worth created during 2022
Thus, it is possible to trace back through all the accounts seeing how the worth changed each year. If you look at the two balance sheets you will see the top part simply shows this. Of course, the problem is in deciding by what amount the worth has changed during the year.
General Account
Let’s look at the General Account surplus which is fairly straightforward. The Total YTD values have been taken directly from the accounts at the end of December. In a very simple situation the worth change would simply be the income less expenditure – but we have to make a few adjustments to be more accurate in what we declare. In a November and December some members pay their next year’s memberships by bank transfer but we really can’t say we “own” them. In the unlikely event that we have to close our U3A on 1[st] January, these members would be entitled to their monies back. So, we deduct it from our worth. The more difficult adjustment to accept is that we must add back in the value which was deducted in the accounts for advanced payments at the end of the previous year. It’s like saying on 1[st] January “we’re still in business so we can now say we own those advanced payments”. The other adjustment we have to make is that for our fixed assets. When we buy something big it is considered to be an asset because we could sell it so it has a worth value. However, the saleable value decreases each year so we deduct as an expenditure the difference between its value at the start and end of the year. We write off an asset over 3 years so a third is deducted from the asset value for 3 years. There is a loss in the first year as a newly bought item immediately becomes secondhand. However, in 2022, we have no remaining assets.
Now let’s look at the lower half of the balance sheet. This part shows where the worth can be found. It should obviously be the same as the declared worth in the top part of the balance sheet. All our General Account worth is held in the current account and the deposit account. For the current account we must again make an adjustment for the pre-paid memberships which we don’t really own yet (unfortunately they are in the bank account as they were paid by bank transfers). There is no cash in hand as we do not use petty cash. We have no residual assets this year.
Travel Account
This works just the same as the General Account. The increase in worth is the sum of the profits and losses we made for the events we ran. For the same reason as the advanced memberships in the General Account, we must deduct the monies for trips in the next year which we will have to either make a refund or pay for. As for the General Account, we also add in any advanced payments from the previous year.
When looking at the summaries at the right-hand side of the account sheet there are two columns “Balance (to date)” and Balance (surplus)”. The former takes in to account all payments made including those in previous years and so shows whether the trip is making a profit or loss. The latter concerns only the current year and is the value used when calculating the surplus (the surplus being a year-on-year evaluation).
Pete Shaw
Notes about submitting annual return - 2022
I rang on 16/3/2023 regarding income and expenditure concerning the money we have to hold over for expenditure in the next year (eg a trip). The answer seemed to be that you should not include in the income that amount you expect to spend in the following year. It is all included in the following year.
This is how I made the assessment. I ignored the small amount involved with subs advanced payments as they more or less balanced anyway.
| General Account Travel Account Less S&T lunch Less S&T Design M Less S&T L/T Less Anwick |
Income Expenditure 7,599.00 7,876.00 30,955.00 27,871.00 1,293.00 0.00 1,250.00 0.00 324.00 0.00 60.00 0.00 35,627.00 35,747.00 |
|---|---|