Boroughbridge Area Community Library Association Annual Report to Trustees & Accounts for the year to 31[st] March 2021
We ended the year with a bank balance of £35,474 being an increase of £15,273 for the full year largely due to grants received for dealing with the impact of Covid on our operations. Without those grants which totalled just under £20k, we would have ended the year with around £15.5k in the bank.
The year has been significantly impacted by repeated closures due to the Covid-19 pandemic and whilst income has been bolstered by the financial support noted above, all other activity has been reduced significantly.
The financial summary (overleaf) highlights the unusual cash impacts and although the bank balance is strong relative to prior years reserves will be needed to compensate for the potential permanent loss of some income sources. Nevertheless, the trustees anticipate a stable basis for continued support to the local community and look forward to the renewal of library services agreements with North Yorkshire County Council in the next financial year.
Boroughbridge Area Community Library Association Annual Report to Trustees & Accounts for the year to 31[st] March 2021
The trustees agreed at the meeting on 22[nd] September 2021 that the financial summary represents a true and fair view of the performance of the charity: