Annual Accounts Financial Statements for year ended 31[st] July 2023
Treasurers Report Sue Yabsley
1 Financial Activities
The Statement of Financial Activities for the year shows a surplus of £22,267 between the incoming resources and the costs and charitable expenditure associated with generating the income.
The detailed results, shown in the following pages, reveal that activities for raising funds during the year amounted to £302,320 compared to £353,635 the previous year with costs of generating voluntary income falling to £116,781 from £180,530 the previous year.
2 Balance Sheet
The charity’s unrestricted reserves increased to £351,318 from £329,051 the previous year, these being held as;
General Fund £242,731 Unforeseen costs reserve £108,587
Trustees’ Report provides details of the investment policy.
3 Key Events
ACAT Ltd was able to reclaim £20,259 under the Gift Aid Scheme.
4 Conclusion and looking forward
Income from charitable activities declined to £149,855 this year compared to £225,858 the previous year and it is hoped that there will be an increase in income generating activities during the next financial year.
I report that the Charity’s total income from all sources, after underlying costs, gave rise to a surplus of only £2,008 compared with a surplus of £54,288 the previous year.
This surplus, adjusted for the amount received under the Gift Aid Scheme, increased the Reserves of Unrestricted Funds by £22,267.
The Trustees are very grateful for the members’ support and attendances at the various events and courses and for the efforts given by those organizing them. More detailed analysis of the results can be found in notes 4 and 6 of the Financial Statements.
In the interests of the members, the Trustees and Officers of the Charity will continue to make all efforts to expand the activities of the Charity in accordance with the Objectives and Aims referred to in the Report of the Trustees. This can only be achieved with the continuing excellent support of our admin team.
Finally, given the large reduction in the surplus made this year it was decided not to transfer a further amount from the General Fund to the Unforeseen costs reserve.
Sue Yabsley ACAT Treasurer