Financial Statement 1 March 2024 : Drake and Tonson
This forms the basis of our return for 2024 submitted December 2024. The figures were used in error for our 2023 report which was submitted late.
There are two main points to make in this financial report. The first is that our investments managed by King and Shaxson, have continued to have a roller coaster ride. They have recently been at £410k. They are currently at £366k. The continued advice is that we should “hold,” as the investments are expected to pick up as the economic cycle does and that in the long term, sustainable and ethical investments ought to pay off. However, for the time being “green,” investments are returning 5% and fossil fuel investments are returning 15%. I have spoken to Wayne Bishop and we have agreed that there is no need for us to change our policy to allow the fund to invest in defensive armaments as these can be considered ethical and given the wider political situation they are experiencing growth.
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Gross Value of Investments
£600,000.00
£500,000.00
£400,000.00
£300,000.00
£200,000.00
£100,000.00
£0.00
20190000 20200000 20210000 20220000 20230000 20240000 20250000
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The second main point is that despite the overall fall in value our income has exceeded our expenditure. The last dividend was at the end of 2023 and so we should expect a further quarterly payment soon in March which should bring in between £2-4k of income, bringing our total cash holdings to £45k and leaving us in a comfortable position to consider the bids we have received for March 2024.
| 2023 | Comment | Debit | Credit | Balance | ||||
|---|---|---|---|---|---|---|---|---|
| 23-Mar | Balance includes legacy credits from deposit account | £42,051.32 | ||||||
| 06-Apr | King and Shaxson | £2,076.91 | £44,128.23 | |||||
| 06-Apr | Cheque 153 myra asif | £1,250.00 | £42,878.23 | |||||
| 11-Apr | cheque 155 maryam hayat | £1,000.00 | £41,878.23 | |||||
| 26-Apr | cheque 157 abdullah rehman | £871.20 | £41,007.03 | |||||
| 27-Apr | cheque 156 st joseph's keighley | £4,000.00 | £37,007.03 | |||||
| 26-May | cheque 154 parkwood keighley | £4,000.00 | £33,007.03 | |||||
| 10-Jul | King and Shaxson | £4,091.11 | £37,098.14 | |||||
| 17-Aug | legacy interest | £15.00 | £37,113.14 | |||||
| 09-Oct | King and Shaxson | £2,300.72 | £39,413.86 | reconciles | ||||
| 08-Jan-24 | King and Shaxson | £3,870.33 | £43,284.19 | reconciles | ||||
| Totals | £11,121.20 | £12,354.07 | End of Financial Year | |||||
| Any outstanding income will appear in the next year |
Joel Griffiths
Chair 29.2.2024