NWMTC TRUSTEES REPORT le December 2024 Revenue has increased by over40810 from the previous year, partly because of an increased student base, but mostly because this was the f irst f ull year of the new Direct Debit Subscription policy. This has produced an average income of over 19K per month in subscriptions, as opposed to the old block lesson policy which was bringing in around 15K. An added benef it is that this has also increased gift aid income, not just because of the increase in revenue, but because the gift aid question is built into the mandate the applicants complete, taking a lot of the burden from admin when following up. The system has also evolved and become a little more flexible with students who are unable to commit to as many as 11 in a 3 month quarter, and this has helped the charity retain students it might have lost if the system had been kept too rigid. As predicted, the loan that was generously provided by the Newtons was paid off early in 2025, and helped the charity through the early cash flow problems that the change in policy created. Most expenses have increased as expected, the most significant beingthe tutors payments, some of whom have increased their hourly rate, but are also enjoying guaranteed income, as the policy for charging pupil cancellations is stuck to more rigidlythan perhaps in the past. There were no new centres opened this year, so maintenance and equipment costs are down. There is little negative to be said about the year. refunds have increased as an unfortunate consequence ofthe new system, as the Charity has to refund where the contractto the students has been broken by, say, a tutor leaving and no other availability. However, it is evident that the increase in ref unds has been far outweighed by the benefit of the regular income. Despite the fact it is still unpopular with a few, the majority of students and tutors are happywith the system and it is runningwell from an administrative perspective. If this trend continues, the Charity will remain in a strong position to face any challenges in the new year. B. M. Newton (Treasurer) NORTHWALES M￿¢T￿rriONCENTftF$ Income and &pendknreyearending31st D￿lber2024 Income 2024 20rJ Sub5crfWon$ GIft￿d Exam Roc*n HI Donatton5 Exam Fees In FundratsSn8lAmazon SmiieiEasyFur￿ai￿ Instrumem LO￿ Oonattons 249W8J4 £ 684.54 £ 819.00 £ 678.10 E 1619.00 £ In276 40.562.22 880.00 2.336.33 2213.ljo 107.76 2.W.33 3.746AO É 310A3&78 £ 219.871.62 Expendfture Reni Rates Water Cleaners Ga￿lect￿C1ty Telephone Wffi Hubs13 Mobliel S6,￿.24 È 31,444.95 .08 £ 3.043.73 £ 7.923.56 £ 839.47 £ 587.68 £ ZC65.27 £ 1.716.Q8 É 1,375.50 È 329.03 E 2.794.12 £ 740.75 È 99.10 £ 1.331.(#J £ 709.05 2.470.79 6.342.69 810.93 In$ur8nces Travel Expenses Venue Hlre Maintenanc8 Offiee SuppUe5 Postage Aelunds Bank Charges PaypalFees Ex8m Fees Out Studlo Equlpment 100 Club NetCEOWa88s PAYE Admln Woges Flona Mes5en8èr- Accounts Acces5 PJySurteDlr8CtDebttCollectrJns Tutors W¢b5 1422.22 3.255.00 60.00 19.762.31 761.tsj 42U2 £ 2M70.fKJ É .48 È e4JO.00 £ 33.7aO.M É 9,791.&1 £ Is.6￿90 £ 672.W £ 2.422.89 £ 150.397.25 £ 842.28 £ 519.88 2.162. 7.927.38 eso.00 33.780.00 8,270.06 13.744.62 627.00 1,030.11 114617.48 842.28 Totals SurpluslMc6t 283.9B3.rJ È 26A52.05 4 310,43&n £ 254,942.00 35.070.38 219,871.82 openln88aia￿e SurpluUDef* 4mAS £ 26,452.05 4 2LW.60 30217.93 35.070.39 4.852.45 Clo$ingBatance31 tlecernber BankAccourrt Closing Balance31 December, Paypal Nevrton Loan N￿on Loan paid back Less non p￿ents￿ cheques 21.609.￿ £ 40.00 £ io.rwJ.00 -£ io.thJo.w É so.00 21.&99.￿ 5.230.12 67. 20.OW.00 io.(x)o.00 150.00 4,85145 2024unpresented cheque 1914 -£ 2023 Noi prÈwed anddonated backas*M￿l rfh¢¥6) 39)1 È NWMTC TRUSTEES REPORT le December 2024 Revenue has increased by over40810 from the previous year, partly because of an increased student base, but mostly because this was the f irst f ull year of the new Direct Debit Subscription policy. This has produced an average income of over 19K per month in subscriptions, as opposed to the old block lesson policy which was bringing in around 15K. An added benef it is that this has also increased gift aid income, not just because of the increase in revenue, but because the gift aid question is built into the mandate the applicants complete, taking a lot of the burden from admin when following up. The system has also evolved and become a little more flexible with students who are unable to commit to as many as 11 in a 3 month quarter, and this has helped the charity retain students it might have lost if the system had been kept too rigid. As predicted, the loan that was generously provided by the Newtons was paid off early in 2025, and helped the charity through the early cash flow problems that the change in policy created. Most expenses have increased as expected, the most significant beingthe tutors payments, some of whom have increased their hourly rate, but are also enjoying guaranteed income, as the policy for charging pupil cancellations is stuck to more rigidlythan perhaps in the past. There were no new centres opened this year, so maintenance and equipment costs are down. There is little negative to be said about the year. refunds have increased as an unfortunate consequence ofthe new system, as the Charity has to refund where the contractto the students has been broken by, say, a tutor leaving and no other availability. However, it is evident that the increase in ref unds has been far outweighed by the benefit of the regular income. Despite the fact it is still unpopular with a few, the majority of students and tutors are happywith the system and it is runningwell from an administrative perspective. If this trend continues, the Charity will remain in a strong position to face any challenges in the new year. B. M. Newton (Treasurer)