Annual Report and Accounts for AFPA Trust Limited (Charity No 1179114 and Company No.08480755)
Year ended 30[th] September 2023
Introduction
This is AFPA (“Asset Finance Professionals Association”) Trust Ltd’s 2023 annual report covering the accounts for the year ended on 30[th] September 2023 and also comparatives for the years ending 30[th] September 2022 and 2021.
Report from the Chairman
In our Mission Statement we state that we want to become the “Go to” organization for charity in our Industry and to promote networking and good causes together. Furthermore we want to increase the value of what we can raise in the way of charitable funds and do more good for those who need it. Unfortunately due to the restrictions imposed as a result the COVID pandemic the value we could raise for charities significantly declined during 2021 and 2022. However since the beginning of 2023 we have been able to increase the frequency and nature of the events we have organized and therefore significantly increase our charitable donations.
In May we had the “Big Quiz” night which was repeated in May 2024. We raised in total £28,660 and after paying our host for the night “The Royal Overseas League” we were able to donate £14,500 to 5 different charities including £10,000 to “DePaul” and £3,000 to “Launch Pad Reading”.
On 8[th] July there was the “Gala Dinner” - also at the Royal Overseas League - at which we raised £12,000 which resulted in AFPA being able to donate £5,000 to SSAFA “the Armed Forces Charity, The Solders’, Sailors’, and Airmen’s Families Association” in August.
On 17[th] August 2023 there was the Annual Summer Drinks at Home House, Portman Square. The total amount raised at this event was £11,865 which meant that a donation of £10,000 could be made to Alexander Devine Children’s Hospice.
As a principle it is AFPA Trust’s strategy to break even financially each year and keep its costs to a minimum. None of the Trustees receive any remuneration for the work they perform for AFPA. The only significant expense is for Website hosting which for the year to 30[th] September was £1,560. For the year to 30[th] September 2023 AFPA made an Operating deficit of £7,484. However if the deposit paid to Home House of £5,000 in August for the Christmas Drinks event is excluded the deficit would have been only £2,484. As at 30[th] September 2023 Net Assets were £262 compared to £7,746 as at 30[th] September 2022.
AFPA Trust could not exist without the great support from our event sponsors. In particular I would like to thank VitrX, LTi Technology, Clear Business Finance, NetSol, Global Lifecycle Solutions, Catfoss Finance, Acquis, Close Brothers, Paragon, Cordoba Rewards, Asset Finance Connect and Rivermore Asset Finance who have supported us over many years. I would also like to thank all the work and support that is contributed by the Trustees. In particular I would like to thank my predecessor Adrian Langford who stepped down as Chairman in August 2023.
Robert Taylor Chairman 4[th] July 2024
AFPA Trustees
The ongoing Management and administration of AFPA Trust Ltd is carried out by the Trustees who also act as a Management Committee that meets on a monthly basis. The Trustees keep formal minutes of its meetings. The Trustees are appointed according to the rules set out in AFPA Trust’s Constitution. As at the end of June 2024 the Trustees are as follows:
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Name Role Served
Adrian Langford Trustee Full Year
Robert Taylor Chairman Full Year
Rob Morris-Jones Treasurer and Finance Director Full Year
Aysha Ellis-Aziz Deputy Chairman & Director Full year
Steve Dexter Trustee Full year
Vince O’Hanlon Trustee Full year
Mark Sanderson Trustee Full Year
Johnnie Halliday Trustee Full year
David Marsh Trustee Full year
Keith Nowland Trustee Appointed 2 [nd] December
2023
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The Directors
As at the end of June 2024 the Directors of AFPA Trust Ltd are as follows:
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Name Role Served
Robert Eggleston Director and Secretary Resigned 9 [th] October 2023
Rob Morris-Jones Finance Director and Secretary Full Year
Robert Taylor Chairman Appointed 9 [th] October 2023
Aysha Ellis-Aziz Deputy Chairman Appointed 9 [th] October 2023
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AFPA TRUST LTD
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Year ended Year ended 30-Sep-23 30-Sep-22 Income £ £ Cirque du Solei donations (Wings for Life) 2,000 - Gala Dinner sponsorship / tickets / raffle 12,000 - Big Quiz sponsorship / tickets / raffle 28,660 - Summer Drinks sponsorship 2,600 - Other membership fees and event tickets 7,839 4,754 Summer Drinks sponsorship / raffle - 5,985 Virtual Cycling Tour of Britain sponsorship - - Bristol Event sponsorship - - Total income 53,099 10,739 Expenditure Donation - Wings for Life 2,900 - Donation - DePaul 10,000 - Donation - Newlife 500 - Donation - Launchpad Reading 3,000 - Donation - Blackburn Youth Zone 500 - Donation - Naomi House 500 - Gala Dinner - SSAFA - Armed Forces Charity Donation 5,000 Summer Drinks - Alexander Devine Donation 6,750 Event payments - Royal Overseas League 20,873 - Event payment - Home House 3,000 - Event payment - Home House - Christmas Drinks 5,000 Website hosting costs 1,560 1,461 Other expenses 1,000 - Donation - Medical Detection Dogs - 7,100 Donation - Mid Sussex Riding for the Disabled - 6,500 Donation - Children Street Charity - - Donation - Christie Charity - - Event payment - Yacht Event - - Event payment - Tobacco Factory Enterprises - - Total expenditure 60,583 15,061 Operating (deficit) / surplus for the year -7,484 -4,322 |
Year ended 30-Sep-21 £ - - - 3,750 7,764 - 1,750 786 14,050 - - - - - - - - 1,370 201 - - 3,250 3,000 1,440 783 10,044 4,006 |
|---|---|
| Bank account - Weatherbys NET ASSETS Share Capital Accumulated fund at beginning of y (Deficit) / surplus for the year TOTAL FUNDS |
BALANCE SH | AFPA T | RUST LTD AT 30 SEPTEMBER 2 |
30-Sep-22 £ 7,746 7,746 - 12,068 4,322 - 7,746 023 |
30-Sep-21 £ 12,068 12,068 - 8,062 4,006 12,068 |
|---|---|---|---|---|---|
| EET AS | |||||
| ear | 30-Sep-23 £ 262 262 - 7,746 7,484 - 262 |
I certify that these accounts have been prepared from the books and records provided and all deposits and payments are reconciled to the bank statements
Signed :
Caroline Winnicott Independent Examiner
04-Jul-24
Date :