Report For the year ending 31[st] March 2023
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 2022-2023
Revenues
Revenues have increased by 41% compared to last year. This mainly due to us receiving full rent from both flats as we took over the management of them from the letting agents. We have also seen an increase in subs and course fees as things are seemingly returning to pre Covid times. This is also reflected in the increase of hosting fees that we have received
Expenses
The Unit has seen an increase their expenses by 22% compared to last year. There are a few of factors affecting the expenses:
-
1) 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.
-
2) The Unit has completely repaid the injection of funds back to the Trustees.
-
3) Since taking on the management of the flats it was brought to our attention by the tenants that they were experiencing issues with the flats. This has meant a sharp increase in outgoings to get these issues fixed
-
4) We have also replaced the fridge and dishwasher in the gallery due to the wear and tear on them given their age.
Payments for utilities is down by 24%. Part of this has been down to changing to a cheaper British Gas product at the back end of the year. We should see further savings on this over the next year. The committee also owes praise to the CO and staff of the unit for helping it to run its utilities efficiently which has helped immensely in keeping the costs down
Cash Available
The cash available to us is broken down as:
Budget for 2022-2023
For 2023-2024 the budget will be based on the actual monthly information from these accounts 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.
Annual Statement of Account
Receipts & Payments Account
for Year End 31 March 2023
| 2023 £ REVENUE 0.00 0.00 0.00 0.00 0.00 1,025.47 63.31 0.00 0.00 0.00 0.00 0.00 1,431.20 433.39 0.00 0.75 35,632.21 2,248.14 40,834.47 0.00 0.00 900.60 455.00 933.45 Total Non-Revenue Receipts 2,289.05 TOTAL REVENUE 43,123.52 2023 £ PAYMENTS 259.29 5,950.64 Transfer receipts from any other fund of the Any Other Receipts Revenue Payments Fundraising Costs Investment Management Costs Direct Charitable Activity Costs Other Revenue Receipts Total Revenue Receipts Non-Revenue Receipts Investment Sales Proceeds Sales of Fixed Assets Loans Received/Recovered Competition Receipts Course Fees Sundry Sales Receipts Investment Income Received Bank Deposit Interest Property Rents Received Other Donations Legacies MOD Boat Repair Grant Fundraising Proceeds Special Events Proceeds Other Charitable Activities Capitation Grant Travel Expense Refunds Annual Fund or Direct Grant SCVA (Sea Cadet Victualling Allowance) Other Grants Cadet Contributions Unit Name Merton Unit 368 Charity No.: Revenue Receipts |
275607 2022 £ 0.00 778.70 0.00 0.00 0.00 0.00 224.00 0.00 0.00 0.00 0.00 0.00 67.00 0.00 0.00 0.00 23,138.93 308.45 24,517.08 0.00 0.00 4,150.00 2.90 2,009.91 6,162.81 30,679.89 |
|---|---|
| 2022 £ 0.00 0.00 |
Annual Statement of Account
| Audit or Independent Examination Accounts Preparation Legal Advice Other Revenue Costs Transfer payments from any other fund of the Unit TOTAL PAYMENTS CASH/BANK RECONCILIATION: Revenue Items Non-Revenue Items Cash/Bank Balance at Year End Cash/Bank Balance at last Year End Non-Revenue Payments Investments Purchased Other Fixed Assets Loans Made/Repaid Any Other Payments Total Non-Revenue Payments Other Equipment Fuel Costs Insurance Costs Bank Interest & Charges Charity Governance Costs Total Revenue Payments Printing & Stationary Maintenance Costs Buildings Boats Vehicles Computers Articles purchased for resale Overhead Costs Rent & Council Tax Heat, Light & Water Telephone Postage Special Events Costs Competition Costs Travel Costs Catering Costs Training Courses Costs Grants |
54.84 100.00 80.99 1,466.41 615.00 0.00 499.80 11,460.60 6,065.00 914.81 30.40 28.10 3,358.84 0.00 1,972.91 389.46 1,014.87 1,095.80 4,416.19 1.98 0.00 0.00 0.00 0.00 39,775.93 0.00 0.00 4,070.00 635.00 1,097.44 5,802.44 45,578.37 2023 £ 3,050.55 1,058.54 (3,513.39) 595.70 |
0.00 0.00 0.00 212.29 544.00 0.00 0.00 9,697.12 8,469.22 673.58 0.00 0.00 8,324.45 0.00 784.83 44.49 0.00 291.02 4,002.14 0.00 0.00 0.00 0.00 19.02 33,062.16 0.00 0.00 4,115.00 0.00 317.25 4,432.25 37,494.41 |
|---|---|---|
| 2022 £ 9,865.07 (8,545.08) 1,730.56 3,050.55 |
Annual Statement of Account
STATEMENT OF ASSETS & LIABILITIES
| STATEMENT OF ASSETS & LIABILITIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| ASSETS | ||
| Cash/Bank Balance at Year End | 595.70 | 3,050.55 |
| Loans Recoverable | 0.00 | 0.00 |
| Land & Buildings | 0.00 | 0.00 |
| Boats | 0.00 | 0.00 |
| Vehicles | 22,630.55 | 27,780.05 |
| Computers | 0.00 | 0.00 |
| Other Equipment | 0.00 | 0.00 |
| LIABILITIES | ||
| Loans Repayable | 0.00 | 2,295.00 |
Annual Statement of Account
DIV/0! -100.00% #DIV/0! #DIV/0! #DIV/0! #DIV/0! -71.74% #DIV/0! #DIV/0! #DIV/0! #DIV/0!
DIV/0! 2036.12% #DIV/0! #DIV/0! #DIV/0! 53.99% 628.85%
DIV/0! #DIV/0!
-78.30% 15589.66% -53.56%
DIV/0! #DIV/0!
Annual Statement of Account
DIV/0! #DIV/0! #DIV/0!
590.76% 13.05% #DIV/0! #DIV/0!
18.19% -28.39% 35.81% #DIV/0! #DIV/0!
-59.65% #DIV/0! 151.38% 775.39% #DIV/0! 276.54% 10.35% #DIV/0!
DIV/0! #DIV/0! #DIV/0! -100.00%
DIV/0! #DIV/0! -1.09% #DIV/0! 245.92%
Report For the year ending 31[st] March 2023
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 2022-2023
Revenues
Revenues have increased by 41% compared to last year. This mainly due to us receiving full rent from both flats as we took over the management of them from the letting agents. We have also seen an increase in subs and course fees as things are seemingly returning to pre Covid times. This is also reflected in the increase of hosting fees that we have received
Expenses
The Unit has seen an increase their expenses by 22% compared to last year. There are a few of factors affecting the expenses:
-
1) 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.
-
2) The Unit has completely repaid the injection of funds back to the Trustees.
-
3) Since taking on the management of the flats it was brought to our attention by the tenants that they were experiencing issues with the flats. This has meant a sharp increase in outgoings to get these issues fixed
-
4) We have also replaced the fridge and dishwasher in the gallery due to the wear and tear on them given their age.
Payments for utilities is down by 24%. Part of this has been down to changing to a cheaper British Gas product at the back end of the year. We should see further savings on this over the next year. The committee also owes praise to the CO and staff of the unit for helping it to run its utilities efficiently which has helped immensely in keeping the costs down
Cash Available
The cash available to us is broken down as:
Budget for 2022-2023
For 2023-2024 the budget will be based on the actual monthly information from these accounts 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.