## 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.