TREASURERS REPORT YEAR ENDING DECEMBER 2020
Introduction
Accounts for the year ended December 2020 have been compiled by our independent examiners, from the monthly summaries of the overall income and expenditure incurred by the Association.
2020 Results and Analysis
The association had a total income (Unrestricted and restricted) of £55033 against a total expenditure of £36077 which resulted in an operating surplus of £18956 for the year . Covid- 19 restrictions and lockdowns significantly affected the operation and income from users has been severely impacted. To offset this however we were awarded grants from Durham County Councl and Stanley Council which enabled the Association to pay utility bills etc
.
Appointment of Independent Examiners
As B J Staughan and Partners are familiar with our operation and have prepared our annual report of accounts, and provided financial advice and support for a number of years, I propose that we stay with them for 2021.
Grants
Due to the lockdown situation and virtually no business being conducted there was no requirement identified where external grant aid would be required.
Building Society/ Savings Account
The Barclays savings account stands at £30221
I propose that the total amount held in the savings account be again ring fenced for the purpose of enabling provision to be made available should, repair or replacement of capital equipment be necessary or supporting the operation should severe difficulties arise in maintaining a positive trading situation .
Summary
2020 proved to be a difficult year with the centre being closed due to lockdowns and some users not returning when allowed due to various Covid restrictions etc. Overall however we have been able to maintain the operation in a positive state ready to swing into action when restrictions are released.
Due to the centre being closed monitors and measures have not been continued but will be resumed when business reopens.
I would like to extend my appreciation to the Secretary, and Chairman who assist me with financial controls and to the management committee and volunteers, who without their interest and commitment to ensuing that the operation is effective on a daily basis we would not have the successful centre that we take for granted.
I Kitchin C.Eng.M.I Mech.E. CQI. FCQI. FRSA . ( Hon Treasurer )
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