## **Finance Report to AGM for Financial Year End 31.08.2020** 

## **Registered Charity No. 1154212** 

2019-2020 was a year of two halves for the COGS Charity, in terms of progress towards the charity’s aim of providing a community open space, accessible to everyone. 

Due to the impact of Covid-19 on social events, the committee were unable to hold the annual field day in 2020. Whilst this was disappointing it allowed the group to focus on the next phase of the project, the building of the sports pavilion. Following the approval of the plans for the changing rooms further work took place to appoint a project team and commence the installation of a water supply. These were key activities during the year to enable the building work to commence in 2021. 

COGS started the year with a cash balance of just under £14k and at the year end the closing balance was circa. £26k. The prior year accounts for 2018-2019 were signed off as a true representation of in year activity by M Prophet ACMA and submitted to the Charity Commission. 

## **Income** 

Income received throughout the year amounted to £22.5k and was received from several different sources, as the COGS Committee seek to maintain an appropriate level of funding to move into the next phase of the project. 

Income received during the year can be broken down as follows: 

|**-**|Football Foundation|£5,660|
|---|---|---|
|**-**|COGS Fundraising|£1,040|
|**-**|WBTC|£10,000|
|**-**|Football Subscriptions|£665|
|**-**|Donations|£5,000|
|**-**|Misc. Income|£100|
||Total|£22,465|



## **Expenditure** 

The group purchased several pieces of equipment during the year, the most significant item was a mower to maintain the field, this expenditure was expected, as we moved into the maintenance phase of the field project and was funded entirely by the kind donation from the Thomson family. 

Significant expenditure was also incurred on additional groundworks to support the laying of the water mains connection. 

Other spend includes, in the first half of the financial year, coffee mornings at the Mechanics Institute and the popular COGS afternoon tea, hosted at Furness Vale Community Centre. Additional gardening and other maintenance equipment was also purchased in the second half of the year and this will support the work of the group as COGS moves into the next phase of the project. 

The key areas of expenditure were as follows: 

||Grounds||
|---|---|---|
|**-**|Maintenance|£557|
|**-**|Building Costs|£3,370|
|**-**|Fees|£325|





- Insurance £547 

- **-** Field Equipment £4,941 **-** Misc. Expenditure £709 Total £10,449 

Additional points to note which support the current financial position are as follows: 

- The impact of Covid -19 has meant the committee have had to change the way it operates in order to continue to deliver the project without significant delay. 

- COGS received the expected donation of £10k from WBTC and a generous donation from the family of the late Kevin Thomson, a lifelong resident of Furness Vale, amounting to a further £5k. Both donations will help to support the next phase of the project. 

- A planning sub-committee has been set-up to manage the build phase of the pavilion building, utilising funding available sources, in support of the next stages of the project. 

- The effect of the pandemic on the ability of local groups to use the field has been seen in the second half of the year. When able to utilise the facility, the local primary school and junior football club have both been actively using the field for sport and recreational activities. 

- Significant progress has been made on the project, despite the impact of the pandemic. 

Any questions in relation to this report or other financial matters related to the operation of the charity can be directed to Andrew Wild COGS Treasurer, who will provide further clarity if required. 

Andrew Wild COGS Treasurer 16[th] June 2021 



## **COGS Draft Annual Financial Statement 2019-2020** 

|Date|Receipt Reference|Bank|Date|Cheque Number|<br>Detail|Bank|
|---|---|---|---|---|---|---|
|02/09/2019|BGC 500025|£5,000.00|10/09/2019|000097||£114.40|
|06/09/2019|BGC 500026|£335.00|10/10/2019|000098||£604.38|
|27/09/2019|BGC 500027|£10,000.00|26/11/2019|000099||£389.57|
|23/11/2019|BGC 500028|£199.75|23/12/2019|000100||£94.80|
|23/11/2019|BGC 500029|£374.00|24/01/2020|000102||£546.80|
|30/01/2020|BGC 500030|£466.00|28/01/2020|000101||£80.00|
|04/05/2020|BGC 500031|£270.00|01/06/2020|000105||£43.98|
|26/06/2020|Football Foundation Grant|£2,484.00|04/06/2020|000104||£94.97|
|03/07/2020|Football Foundation Grant|£3,176.00|30/06/2020|000107||£1,800.00|
|13/07/2020|BGC 500032|£160.00|30/06/2020|000106||£1,390.00|
||||06/07/2020|000108||£4,292.53|
||||14/07/2020|000109||£53.43|
||||14/07/2020|000110||£85.00|
||||07/08/2020|000103||£150.00|
||||31/08/2020|Prior year adjustment||£708.76|
||||**Total**|||**£10,448.62**|
|**Total**||**£22,464.75**|£22,464.75||||
|**01/09/2019**|**Balance Bfwd**|**£13,772.34**|£25,788.47|£0.00|||
||Receipts|£22,464.75|£25,788.47|Bank Statement|31.08.2020||
||Expenses|-£10,448.62|||||
|**31/08/2020**|**Balance Cfwd**|**£25,788.47**|£0.00|Check|||