## ONE MILE CLOSER (1189130) TREASURER’S REPORT 5[th ] APRIL 2023 Jon Winchester 

One Mile Closer’s financial performance was broadly within expectations for the financial period to 5[th] April 2023.  Our total expenditure and income for the period under review are summarized below. 

**5 April 2023** Total expenditure 17618.00 Total income 4822.00 **Operating (Deficit)/Surplus (12796.00)** 

## **Operating (Deficit)/Surplus** 

One Mile Closer is primarily a fundraising vehicle, undertaking periodic fundraising activities on an annual or biennial basis.  It has no perpetual income streams, such as recurring monthly contributions or subscriptions, however such activities may be considered in future. The nature of One Mile Closer’s activities may lead to significant variance between income and expenditure within any financial period. 

The proceeds of our fundraising activities are used to support charitable enterprises, primarily that of Nalango Secondary School, Uganda via our delivery partner Henry van Straubenzee Foundation (a registered Charity with the England and Wales Charity Commission). 

Financial year 22/23 saw a return to our traditional fundraising activities through co-ordination of a multi-day bicycle ride from Milan, Italy to Ljubljana, Slovenia. Inflows for FY 22/2023 were below our expected figure of £10000, a result of lower uptake for the event.  As a result, income was limited to ~50% of the expected amount, £4822.  We deem the root cause of underperformance to be uncertainty as a result of Covid-19 travel restrictions.  We expect future similar fundraising activities to return to greater profitability. 



Our delayed project from FY21/22, the construction of a girls ’ dormitory with washroom and latrine facilities, and overhaul/refurbishment of two further latrine blocks, was successfully delivered during the financial year.  We continued our annual support for educational programmes at Nalango, and a further request for sporting and musical equipment was also fulfilled.  Outflows across these projects totaled £15826.00.  In addition to the cost of fundraising activities, total expenditure was £17618, in line with the expected figure of £18000. 

We will continue our typical fundraising activities during Financial Year 2023/24, launching our August 2024 ride during the period.  Forecast inflows for financial year 23/24 are ~£5000.00, with expected total expenditure ~£3000.00. 

Further details of the financial activities are shown in the financial statement and balance sheet below. 

## STATEMENT OF FINANCIAL ACTIVITIES 5[th] APRIL 2023 

|**INCOMING RESOURCES**|**£**|
|---|---|
|Fundraising Activities|4329.00|
|Donations|493.00|
||4822.00|
|||
|**EXPENDED RESOURCES**|**£**|
|Fundraising Activities|1792.00|
|Charitable Activities|15826.00|
||17618.00|
|||





**NET FUNDS** (Losses)/Gains (12796.00) 

## BALANCE SHEET AS AT 5th APRIL 2023 

||**5 April 2022**<br>|**5 April 2023**|
|---|---|---|
||**£**|**£**|
|**CURRENT ASSETS**|||
|Cash and bank balances|15195.00|2399.00|
|**FUNDS**|||
|UNALLOCATED FUNDS|15195.00|2399.00|
||**15195.00**|**2399.00**|





## NOTES ON THE FINANCIAL ACTIVITIES 

## 1. ACCOUNTING POLICIES 

a) Basis of preparation of accounts 

The accounts are prepared in accordance with the requirement of HMRC for accounting periods after April 2009.  Charities registered in England and Wales that are not companies are allowed under section 133 of the Charities Act 2011 (‘the Charities Act’) to prepare receipts and payments accounts provided the charity’s gross income is not over £250,000 . 

## b) Receipts 

include all receipts such as donations and fundraising activities. 

c)  Payments 

include all payments such as costs of fundraising activities and project expenditure. 

Statement of Assets and Liabilities: 

## d) Disclosure 

The account is prepared on Cash Basis Accounting. 

## 2. STAFF COSTS 

One Mile Closer does not have remunerated employees. 

## 3. TRUSTEES REMUNERATION AND EXPENSES 

No remuneration was paid to trustees. However, expenses incurred in operation of the charity may be reimbursed to trustees on an ad-hoc basis as approved. 

Date: 13/01/2024 

Date: 

13/01/2024 

Jon Winchester, Treasurer 

Tim Gauntlett, Chairman 




## **ONE MILE CLOSER - Charity Number 1189130** 

## **Receipts and payments accounts Period 6th April 2022 to 5th April 2023** 

## **Section A Receipts and payments** 

|**Section A Receipts and payments**||||||
|---|---|---|---|---|---|
|**A1 Receipts**|**Unrestricted**<br>**funds**<br>**to the nearest**<br>**£**|**Restricted funds**<br>**to the nearest £**|**Endowment**<br>**funds**<br>**to the nearest £**|**Total funds**<br>**to the nearest £**|**Last year**<br>**to the nearest**<br>**£**|
|Milan - Ljubljana Ride Income|**4,329**<br>**493**|**-**|**-**|**4,329**|**-**|
|Donations||**-**|**-**|**493**|**-**|
|**_Sub total_**_(Gross income for AR)_|**4,822**|**-**|**-**|**4,822**|**-**|
|**A2 Asset and investment sales, (see table).**||||||
|n/a|**-**|**-**|**-**|**-**|**-**|
|**_Sub total_**<br>**_Total receipts_ **|**-**|**-**|**-**|**-**|**-**|
|||||||
||**4,822**|**-**|**-**|**4,822**|**-**|
|**A3 Payments**<br>Milan - Ljubljana Costs<br>Administration<br>HvSMF: Latrine Build & Renovations<br>HvSMF: Girls Dormitory & Washrooms<br>HvSMF: Soft Projects & Science Lab Materials<br>HvSMF: Sports & Music Equipment<br>**_Sub total_ **||||||
||**1,789**<br>**3**<br>**5,718**<br>**6,250**<br>**1,450**<br>**2,408**|**-**|**-**|**1,789**|**-**|
|||**-**|**-**|**3**|**-**|
|||**-**|**-**|**5,718**|**-**|
|||**-**|**-**|**6,250**|**-**|
|||**-**|**-**|**1,450**|**-**|
|||**-**|**-**|**2,408**|**-**|
||**17,618**|**-**|**-**|**17,618**|**-**|
|||||||
|**A4 Asset and investment purchases, (see**<br>**table)**|**-**<br>**-**|||||
|**n/a**||**-**|**-**|**-**|**-**|
|||**-**|**-**|**-**|**-**|
|**_Sub total_ **|**-**|**-**|**-**|**-**|**-**|
|**_Total payments_ **<br>**_Net of receipts/(payments)_ **<br>**A5 Transfers between funds**<br>**A6 Cash funds last year end**<br>**_Cash funds this year end_ **||||||
||**17,618**|**-**|**-**|**17,618**|**-**|
|||||||
||**-               12,796**|**-**|**-**|**-               12,796**|**-**|
||**-**<br>**15,195**|**-**|**-**|**-**|**-**|
||||**-**|**15,195**|**-**|
||**2,399**|**-**|**-**|**2,399**|**-**|



OMC RECEIPTS AND PAYMENT ACCOUNTS 22-23.xlsx 



## **Section B Statement of assets and liabilities at the end of the period** 

|**Categories**<br>Signed by one or two trustees on behalf of all<br>the trustees<br>**B5 Liabilities**<br>**B3 Investment assets**<br>**B2 Other monetary assets**<br>**B4 Assets retained for the charity’s own use**<br>**B1 Cash funds**|**Details**<br>**Details**<br>Main Account<br>Project Account<br>**Details**<br>**Details**<br>**_Total cash funds_**<br>(agree balances with receipts and<br>payments account(s))<br>**Details**<br>Signature|**Unrestricted**<br>**funds**<br>**to nearest £**|**Restricted funds**<br>**to nearest £**|**Endowment**<br>**funds**<br>**to nearest £**|
|---|---|---|---|---|
||||**-**<br>**-**|**-**|
|||**2,399**||**-**|
|||**-**||**-**|
|||**2,399**|**-**|**-**|
|||OK<br>**Unrestricted**<br>**funds**<br>**to nearest £**||OK<br>**Endowment**<br>**funds**<br>**to nearest £**|
|||**-**||**-**|
|||**-**||**-**|
|||**-**||**-**|
|||**-**||**-**|
|||**-**||**-**|
|||**-**||**-**|
|||**Fund to which**<br>**asset belongs**||**Current value**<br>**(optional)**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||**Fund to which**<br>**asset belongs**||**Current value**<br>**(optional)**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||**Fund to which**<br>**liability relates**||**When due**<br>**(optional)**|
||||||
||||||
||||||
||||||
||||||
|||Print|||
|||||Date of<br>approval|
|||||13/01/2024|
|||||13/01/2024|



OMC RECEIPTS AND PAYMENT ACCOUNTS 22-23.xlsx