## Report For the year ending 31[st] March 2022 ## Accounts Summary Last year, the Unit is pleased to say that they were financially viable to continue as a Unit and provide a place where the cadets can come, learn and have fun. I am pleased to announce that the Unit is still financially sound for another financial year. ## Report for 2021-2022 ## Revenues Revenues have decreased by 18% compared to last year. There are 3 factors affecting the revenue stream: - 1) After the sale of one of our flats falling through it took some time to get the flat back up to standard and re-let. This meant that we did not see rent from this flat until Nov 2021. - 2) There were no insurance claims this financial year. - 3) The Unit did get an injection of funds by Trustees to ensure that all bills were paid. This offset some of the loss in rent. ## Expenses The Unit has seen an increase their expenses by 4% compared to last year. There are 3 factors affecting the expenses: - 1) The Trustees have now paid the remaining costs of the insurance claim made in the last financial year - 2) The Unit is still behind in payments for the ground rent of the land, however, a payment plan is in place. This payment plan is up to Dec 2023 when we will be completely up to date. We will then see a reduction in our outgoings. - 3) The Unit is now paying monthly instalments to repay the injection of funds from the Trustees. These payments will cease in Feb 2023. Payments for utilities is down by 33%. This is down to the property being empty for most of the financial period. ## Cash Available The cash available to us is broken down as: Budget for 2022-2023 For 2022-2023 the budget will be based on the actual monthly information from the later part of 2021-2022 as this will be reflective of revenue and costs going forwards. The Trustees are aware of electrical work that is required within the next year so this will also be added to the budget. As far as the Trustees are aware this is the only big expensive in the near future. |Receipts & Payments Account|for Year End 31 March|2022| |---|---|---| |Unit Name|Merton Unit 368|| |Charity No.:|275607|| ||**2022**|**2021**| ||**£**|**£**| |**REVENUE**||| |**_Revenue Receipts_**||| |Capitaton Grant|-|-| |Travel Expense Refunds|779|938| |Annual Fund or Direct Grant|-|-| |SCVA (Sea Cadet Victualling Allowance)|-|-| |Other Grants|-|-| |Cadet Contributons|-|-| |Other Donatons|224|80| |Legacies|-|-| |MOD Boat Repair Grant|-|-| |Fundraising Proceeds|-|-| |Special Events Proceeds|-|-| |Other Charitable Actvites||| |Competton Receipts|-|-| |Course Fees|67|-| |Sundry Sales Receipts|-|-| |Investment Income Received|-|-| |Bank Deposit Interest|-|7| |Property Rents Received|23,139|21,344| |Other Revenue Receipts|308|-| |**_Total Revenue Receipts_**|**_24,517_**|**_22,370_**| |**_Non-Revenue Receipts_**||| |Investment Sales Proceeds|-|-| |Sales of Fixed Assets|-|-| |Loans Received/Recovered|4,150|3,130| |Transfer receipts from any other fund of the Unit|3|-| |Any Other Receipts|2,010|12,104| |**_Total Non-Revenue Receipts_**|**_6,163_**|**_15,234_**| |**TOTAL REVENUE**|**30,680**|**37,604**| |**PAYMENTS**||| |**_Revenue Payments_**||| |Fundraising Costs|-|-| |Investment Management Costs|-|-| |Direct Charitable Actvity Costs||| |Special Events Costs|-|-| |Competton Costs|-|-| |Travel Costs|-|-| |Catering Costs|212|-| |Training Courses Costs|544|85| |Grants|-|-| |Artcles purchased for resale|-|-| |Overhead Costs||| |Rent & Council Tax|9,697|7,827| |Heat, Light & Water|8,469|12,950| |Telephone|674|604| |Postage|-|-| |Printng & Statonary|-|108| |Maintenance Costs||| |Buildings|8,324|9,713| |Boats|-|-| |Vehicles|785|765| |Computers|44|44| |Other Equipment|-|394| |Fuel Costs|291|181| |Insurance Costs|4,002|4,289| |Bank Interest & Charges|-|24| |Charity Governance Costs||| |Audit or Independent Examinaton|-|-| |Accounts Preparaton|-|-| |Legal Advice|-|500| |Other Revenue Costs|19|-| |**_Total Revenue Payments_**|**_33,062_**|**_37,486_**| |**_Non-Revenue Payments_**||| |Investments Purchased|-|-| |Other Fixed Assets|-|-| |Loans Made/Repaid||4,115||1,630| |---|---|---|---|---| |Transfer payments from any other fund of the Unit||-||60| |Any Other Payments||317||17| |**_Total Non-Revenue Payments_**||**_4,432_**||**_1,707_**| |**TOTAL PAYMENTS**||**37,494**||**39,193**| |**CASH/BANK RECONCILIATION:**||||| |||**2022**||**2021**| |||**£**||**£**| |Cash/Bank Balance at last Year End||9,865||11,455| |Revenue Items|-|8,545
|-|15,116
| |Non-Revenue Items||1,731||13,527| |Cash/Bank Balance at Year End||3,051||9,865| |**STATEMENT OF ASSETS & LIABILITIES**||||| |||**2022**||**2021**| |||**£**||**£**| |**_ASSETS_**||||| |Cash/Bank Balance at Year End||3,051||9,865| |Loans Recoverable||-||-| |Land & Buildings||-||-| |Boats||-||-| |Vehicles||27,780||32,930| |Computers||-||-| |Other Equipment||-||-| |**_LIABILITIES_**||||| |Loans Repayable||2,295||1,500| ## Report For the year ending 31[st] March 2022 ## Accounts Summary Last year, the Unit is pleased to say that they were financially viable to continue as a Unit and provide a place where the cadets can come, learn and have fun. I am pleased to announce that the Unit is still financially sound for another financial year. ## Report for 2021-2022 ## Revenues Revenues have decreased by 18% compared to last year. There are 3 factors affecting the revenue stream: - 1) After the sale of one of our flats falling through it took some time to get the flat back up to standard and re-let. This meant that we did not see rent from this flat until Nov 2021. - 2) There were no insurance claims this financial year. - 3) The Unit did get an injection of funds by Trustees to ensure that all bills were paid. This offset some of the loss in rent. ## Expenses The Unit has seen an increase their expenses by 4% compared to last year. There are 3 factors affecting the expenses: - 1) The Trustees have now paid the remaining costs of the insurance claim made in the last financial year - 2) The Unit is still behind in payments for the ground rent of the land, however, a payment plan is in place. This payment plan is up to Dec 2023 when we will be completely up to date. We will then see a reduction in our outgoings. - 3) The Unit is now paying monthly instalments to repay the injection of funds from the Trustees. These payments will cease in Feb 2023. Payments for utilities is down by 33%. This is down to the property being empty for most of the financial period. ## Cash Available The cash available to us is broken down as: Budget for 2022-2023 For 2022-2023 the budget will be based on the actual monthly information from the later part of 2021-2022 as this will be reflective of revenue and costs going forwards. The Trustees are aware of electrical work that is required within the next year so this will also be added to the budget. As far as the Trustees are aware this is the only big expensive in the near future.