THE FRIENDS OF OUR LADY OF VICTORIES ANNUAL GENERAL MEETING 24 SEPTEMBER 2024
TREASURER’S REPORT (2023 - 2024) / SUMMARY OF ACCOUNTS
FOLV’s total Opening Balance was £64,980.28 as at 1[st] of September 2023 and total Closing Balance was £51,313.54 as at 31[st] of August 2024.
- Income
FOLV raised a total of £46,589.39 last year. This is £7,193.61 lower than the previous year and reflects a continued reduction in the amount of regular giving from parents.
59% of FOLV revenue came from parental donations, employer matching and Gift Aid (71% in 2022/2023). Parental donations have decreased by over £4,000 since last year and we are in urgent need of new regular donors.
40% of FOLV revenue came from events last year. The overall profit per event has remained relatively steady year on year; but this reflects the declining strength of donation.
The remaining 1% of income came from Easy Fundraising and bank interest.
Profit per event:
-
The Silent Auction was the most profitable event (£4,268 raised last year), however the suite of Christmas events (the Secret Room, Christmas Cards and Christmas Goods) also raised £3,269 collectively.
-
The Summer Fair, Summer Party and Bingo Night were also important sources of income (Profit of £1,601, £1,436 & £970 respectively). Last year we held our first ever Art Exhibition , which raised £780 on the night but was also a significant source of donations (over £500) on the night.
Expenditure
The costs of running FOLV are minimal (other than expenses related to events included in the profit above) and comprise bank fees and insurance .
Following a small number of years where FOLV was not able to fund much expenditure for the school, this has changed and our reserves reduced by £13,667 as we funded a number of different areas of expenditure.
For the past few years, FOLV has been giving a grant of £30k to fund smaller items to support the running of the school. Funds for 2023/2024 have been paid and are allocated as follows:
| the running of the school. Funds for 2023/2024 have been paid and are allocated as | follows: |
|---|---|
| Classroom Enrichment Books and Materials Music Provision Subscriptions Yet to be allocated |
£ 4,138 8,010 8,448 9,245 158 |
| 30,000 |
In addition, to the grant above, FOLV funded the following items and activities in the school year 2023/2024:
| Coaches Thank you cake School Discos Recarpeting Areas affected by Wall School Cinema trip First Communion Ice Creams Support for Y6 leavers party Classroom enrichment funded by proceeds from Cake Sales |
£ 10,454 105 523 11,626 1,013 200 100 1,977 |
|---|---|
| 25,998 |
The accounts have been independently examined by Marie-Laure Parker and, if approved by the Annual General Meeting, will be filed with the Charity Commission.
AGM OF FOLV / TREASURER’S REPORT
PROFIT & LOSS ACCOUNT
Friends of Our Lady of Victories
Profit and Loss Account 1 September 2023 - 31 August 2024
| 2023/2024 | 2022/2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| Income | ||||
| Donations | 14,734 | 19,408 | ||
| Employer Matching | 3,502 | 7,539 | ||
| Amazon Smile/Easy Fundraising | 411 | 916 | ||
| Gift Aid | 9,286 | 11,501 | ||
| Bank Interest | 165 | 115 | ||
| 28,098 | 39,479 | |||
| Profit from Events/Sales | ||||
| Cake Sales | 1,984 | 2,020 | ||
| Bingo Night | 970 | 1,302 | ||
| Christmas Cards | 478 | 787 | ||
| Christmas Goods | 1,349 | 1,019 | ||
| Secret Room | 1,443 | 1,217 | ||
| Art Exhibition/Challenge Night | 780 | 260 | ||
| Silent Auction | 4,268 | 5,103 | ||
| Summer Party | 1,436 | 1,507 | ||
| Summer Fair | 1,601 | 1,099 | ||
| Goods sales | 245 | (519) | ||
| Other events | 510 | |||
| 14,552 | 14,304 | |||
| Expenses | ||||
| Bank Fees | (166) | (222) | ||
| Insurance | (153) | (140) | ||
| (319) | (362) | |||
| Net Income from Activities | 42,331 | 53,421 | ||
| Disbursements to School | (55,998) | (49,810) | ||
| Net increase in Funds | (13,667) | 3,611 |
AGM OF FOLV / TREASURER’S REPORT
2) CHARITIES COMMISSION FILING
SUMMARY OF ACCOUNTS 1st Sep 2023- 31st Aug 2024
| SUMMARY OF ACCOUNTS 1st Sep 2023- 31st Aug 2024p 2023- 31st Aug 2024 2023- 31st Aug 2024g 2024 2024 | SUMMARY OF ACCOUNTS 1st Sep 2023- 31st Aug 2024p 2023- 31st Aug 2024 2023- 31st Aug 2024g 2024 2024 |
|---|---|
| FOLV Summary of Income and Expenditure | |
| FOLV Summary of Income and Expenditure | |
| OpeningBalance CAF Bank | 64,929.28 |
| - | |
| Cash in hand | 51.00 |
| Total Opening Balance | 64,980.28 |
| Income | 2023/2024 |
| Merchandise/book sales | 244.90 |
| Bank Interest | 165.01 |
| Cake Sales | 1,983.60 |
| Christmas Cards | 477.81 |
| Christmas Products | 1,348.80 |
| Easyfundraising/Amazon Smile | 411.33 |
| Gift Aid | 9,285.89 |
| Parental Donations | 14,733.64 |
| Parental Donations - Employer Matchingonly | 3,501.74 |
| Bingo Night | 1,272.01 |
| Art Exhibition | 1,384.50 |
| Recipe Books | |
| Secret Room | 1,442.70 |
| Silent Auction | 4,345.00 |
| Silent Auction Dinner | 600.00 |
| Summer Fair | 2,391.46 |
| Summer Party | 3,001.00 |
| Total Income | 46,589.39 |
| Expenses/Disbursements | 2023/24 |
| CentenaryMerchandise | |
| BankingExpenses | 166.06 |
| Christmas Products | |
| FamilyFun Day/ Sponsored Walk Expenses/ School Disco | |
| FOLV Insurance | 153.00 |
| OLV - Classroom Equipment & Enrichment | 1,976.60 |
| OLV - Securitysystem,Buildingwork,Fixtures & Fittings | 11,625.90 |
| OLV - Entertainment(Childrens' Disco/Parties Expenses/Coaches) | 12,295.05 |
| OLV - funds transferred notyet spent | 30,000.00 |
| Quiz Night/ Bingo Night | 301.72 |
| Art Exhibition | 604.74 |
| Recipe book costs | |
| Silent Auction | 177.28 |
| Silent Auction Dinner | 500.00 |
| Summer Fair | 790.74 |
| Summer Party | 1,565.04 |
| Year 6 Leavers Subsidy | 100.00 |
| Total Disbursements/Expenses | 60,256.13 |
| Closing Balance | 51,313.54 |
SUMMARY OF ACCOUNTS 1st Sep 2023- 31st Aug 2024
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FOLV Summary of Income and Expenditure
FOLV Summary of Income and Expenditure
Opening Balance CAF Bank 64,929.28
Cash in hand 51.00
Total Opening Balance 64,980.28
Income 2023/2024
Merchandise/book sales 244.90
Bank Interest 165.01
Cake Sales 1,983.60
Christmas Cards 477.81
Christmas Products 1,348.80
Easyfundraising/Amazon Smile 411.33
Gift Aid 9,285.89
Parental Donations 14,733.64
Parental Donations - Employer Matching only 3,501.74
Bingo Night 1,272.01
Art Exhibition 1,384.50
Recipe Books
Secret Room 1,442.70
Silent Auction 4,345.00
Silent Auction Dinner 600.00
Summer Fair 2,391.46
Summer Party 3,001.00
Total Income 46,589.39
Expenses/Disbursements 2023/24
Centenary Merchandise
Banking Expenses 166.06
Christmas Products
Family Fun Day/ Sponsored Walk Expenses/ School Disco
FOLV Insurance 153.00
OLV - Classroom Equipment & Enrichment 1,976.60
OLV - Security system, Building work, Fixtures & Fittings 11,625.90
OLV - Entertainment (Childrens' Disco/Parties Expenses/Coaches) 12,295.05
OLV - funds transferred not yet spent 30,000.00
Quiz Night/ Bingo Night 301.72
Art Exhibition 604.74
Recipe book costs
Silent Auction 177.28
Silent Auction Dinner 500.00
Summer Fair 790.74
Summer Party 1,565.04
Year 6 Leavers Subsidy 100.00
Total Disbursements/Expenses 60,256.13
----- End of picture text -----
Closing Balance 51,313.54
CHARITY COMMISSION FOR ENGLAND ANO WALES Independent examiner's report on the accounts ectlon A Independent Examlnef8 Report Report to the trustees THE F(Zi cwDS OF OLJ£ LAT)y of trlcTOEi&S FOLV On accounts for the year ended ijtr Sep sk 2023_ 31 A Zol4 Charlty no (If any) IILOOSS Set out on pages I report to the trustees on my examlnation of Ihe accounls of the above charity {'the Trust") for the year ended 31108 / ZoZ4 As the charity's trustees, you are responslble for the preparation of the accounts in accordance with the requirements of the Charilies Act 2011 ('the Act.). Responslbllltles and basls of report I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Direclions given by Ihe Charity Commlssion under section 145(5){b) of the Act. Independent tr examlner's statement I have completed my exarnination. I confirm Ihat no material matters have come to my attenlion in connection with the examination (olher than that disclosed below '} which gives me cause lo believe Ihat in, any material respect-. the accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts did not accord wilh the accounting records: or the accounts did not comply with the applicable requiremenls concerning the form and content of accounts set out in the Charities (Accounls and Reports) Regulations 2008 other than any requirement Ihat the accounts give a 'true and fair, view which is not a matter considered as part of an independent examinatlon. I have no COnrnS and have come across no other matters in connectlon with the examination lo which attention should be drawn in thls report in order to enable a proper underslanding of the accounts to be reached. Please delete the words in the brackets if they do not apply. Signed: Date: 20 109 Loz Name: MhRi c. LhURg Ppf£ Relevant professlonal quallflcatlon{s) or body FIr+JI4cE / h(cwl iKJ& MhSTEf< T)EG2E& ( UfvJlVEE% ITY ilhRi S IER Oct 2018 Scanned with Camscanner
(if any): LX _ +OLV TlichsfCL l 01 -HOLL)K@DS LAP& swi Address: LOl)Dra Sectlon BIIIIIIIWDlsclosura Only complete rf the examiner needs to highlight malerial matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Glve here brief detalls of any Items that the examlner wlshes to dlsclose. IER Oct 2018 Scanned with Camscanner