Colchester North Men's Shed Report and balance sheets for year 2023
During 2023 The Shed enjoyed a full year of activities without any closures for any reasons; it has continued to build as a community support organisation and to move forward on a very sound basis. We have continued our support for the community by admitting members with greater life challenges in particular those with special needs. The membership has ended the year at 42 with up to 14 regular attendees for each session on Tuesdays and Thursdays. A limited number of members also attend on Wednesdays to complete projects and do extra training. These numbers are capable of being supervised properly with our current resources and the Shed has a small capacity for a few more members.
The Shed has now completed a year as a charity and met its obligations to The Charities Commission. We are now fully independent of Essex Sheds although they remain in the background and representatives from our Shed attend their meetings to keep abreast of any developments. A number of new sheds have opened in communities around us and we have given them advice to help with their formation. During last year we took over responsibility for the payment of our electricity usage. This year after initial problems caused by the supplier applying the wrong tariffs the prices stabilised eventually. Prices increased considerably but were reduced to some extent by government subsidies which ended on 31st March. Current prices remain within our income levels and we are coping without increasing our membership charges.
During the year The Shed has not sought any further grants and the outstanding money from Colchester Borough Council of £400, Colchester Community Bursary £1000 and Colchester Masons £1000 mentioned in the accounts has now been allocated. Details of this are shown in appendix 2. The inner room built by Greater Anglia Railways has proved to be a complete success and made the shed a much more usable facility and together with the kitchen facilities has resulted in a routine which suits the members and supports our aims of preventing them from becoming isolated by providing opportunities for social interaction. During the year the internal room structure was extended by members to provide a metal workshop and the metal lathe situated in the rear foyer was relocated within it, this has produced a useful work space.
This year a new router was purchased and a saw sharpener but no other major equipment, because the shed has most of the equipment it needs. Some further vacuums have been purchase to improve dust extraction. Constant use of the equipment we have, such as planers and saws requires steady expenditure on replacement blades and other parts but our current funds and income cover this adequately. A wood burner was obtained and installed using some of the grant money in our account and has proved of some value in heating part of the workshop and also uses some of the scrap timber generated by project work. The Shed also had a Fire Risk survey resulting in moderate expenditure on a detection system being provided for the kitchen and refreshment room to cover them when they are not occupied. Procedures for evacuation were posted and a hand operated fire alarm was installed. The Fire extinguishers were also replaced and are now covered by an annual maintenance contract.
Shed members continued to repair and make all sorts of items for their own and community use, ranging from bird boxes to garden benches. A Commemorative bench was refurbished for the local church, a further 18 double swift boxes, three barn owl boxes and some dormouse tubes were made for Suffolk Coast and Heaths Unit and a replacement bus shelter was made for the village of Salcot. These involved several members and provided them with activity over a period of time.
Financial governance remains the same and continues to be a team effort involving several committee members as well as the Treasurer; these include the Chairman and Shed Safety Supervisors who attend the majority of sessions. Members pay their own session fees, deposit the money in a container on a desk by the entrance and record their attendance on a sheet. The
Treasurer removes the money weekly and leaves only a small float. In the absence of the Treasurer small purchases are reimbursed by appointed committee members and the receipts left in the container. Larger purchases are paid directly by the Treasurer when he attends or reimbursement is made to the purchaser by using bank transfers. In the Treasurer's absence from The Shed, this can also be done by e-mail application. Large items of expenditure are discussed informally before purchase. This way of working is applied without undue interference and has worked reasonably well to-date without any real problems. This is largely due to everyone's honesty and goodwill.
A balance sheet for 2023 is attached appendix 1.
Grant money from some of the sources mentioned above, most of which was not given for specific purposes, including grant money obtained towards the end of 2022 is shown in the records during the year itemised separately, so that it can be identified within the total bank balance, this has now been allocated to appropriate areas of expenditure as shown in appendix 2. These will now be removed showing no grant money unspent until any further grants are received.
Barry Unger
Trustee and Hon. Treasurer.
Appendix 1 North Colchester Men's Shed
Financial Summary 31st December 2023
| Income | code Expenditure | ||
|---|---|---|---|
| Subscriptions | 790.00 | 1 Tools, equipment and spares | 790.54 |
| session Fees | 2682.00 | 2 Timber | 1557.49 |
| Donations | 573.00 | 3 Fittings and fixings | 697.15 |
| Sales | 921.00 | 4 Domestic | 358.85 |
| Projects (Fencing, owl boxes and swift boxes) | 3985.00 | 5 Paint, glue and filler | 428.14 |
| Refund planer | 47.80 | 6 Insurance | 207.92 |
| Total | 8998.80 | 7 Electricity | 1056.57 |
| 8 Other (Wood Burner, Fire Safety, Jimmy) | 1148.61 | ||
| Total | 6245.27 | ||
| Income over expenditure | 2753.53 | ||
| Funds held | After allocation of grant money | ||
| B Fwd from 2022 | 9577.94 | Funds held | |
| Net income 2023 | 2753.53 | B Fwd from 2022 | 9577.94 |
| Grant Colchester Masons 2022 | 1000.00 | Net income 2023 | 2753.53 |
| Grant Community bursary 2022 | 1000.00 | re-allocated money | 2400.00 |
| Grant Colchester Borough 2022 | 400.00 | Total | 14731.47 |
| Total | 14731.47 | ||
| Location | |||
| Cash at bank | 14678.83 | ||
| Petty cash at shed | 52.64 | ||
| Total | 14731.47 |
| Appendix 2 | |||
|---|---|---|---|
| Expenditure from grants, summary 2023 | |||
| Income | Expenditure | ||
| Colchester Borough Council | 400.00 | Harwood timber | 156.00 |
| Part for hardwood collection box, | Smoke alarms | 72.99 | |
| remainder used or fire saftey equipment | New fire extinguishers and service | 172.68 | |
| total | 401.67 | ||
| Grant disbursed | paid from general fund | 1.67 | |
| Colchester Masons Grant 22 | 1000.00 | Wood burner, flue and electrical alterations | 826.95 |
| Used to improve facilities including | Purchase of router | 186 | |
| Installation of a wood burner and | total | 1012.95 | |
| Provision of a router | Paid from general funds | 12.95 | |
| Grant disbursed | |||
| Community Bursary | 1000.00 | Electricity | 1,056.57 |
| Non-specific grant used for | |||
| vital services support | total | 1,056.57 | |
| Grant disbursed | paid from general fund | 56.57 | |
| Colchester Masons Ladies | 200.00 | 3 x Dust extraction vacuums | 87.00 |
| Non specific grant used for vital eqipment | Saw sharpener | 125.99 | |
| total | 212.99 | ||
| Grant disbursed | paid from general fund | 12.99 |