Treasurer’s Statement 2022
Annual Trustee Meeting Tuesday 14[th] March 2023
2022 was the first year since 2019 that the Trust’s activities could continue as planned and without the disruption of the Covid 19 pandemic. It was an exceptional year. The Trust held three very successful fundraising events and annual net fundraising was the highest achieved to date. Conscious of the Trustees direction at the AGM to ensure that funds were not accrued but given in timely grants, and in response to the growing needs created by the cost of living crisis, the Trust gave grants at a higher level than any previous year.
Analysis of Accounts for Year Ended 31 December 2022
Opening Balance
The Daisy Trust opening balance for 2022 was £111,498, £25,347 (23%) was held in a savings account, £15,083 (14%) was invested in treasury stock and £71,217(63%) in cash and the current account. An additional £20,000 had been pledged for five grants of £4,000, carrying forward approximately £55,000 in the current account.
Income
During 2022 The Daisy Trust had a net income of £195,154. This was higher than any previous year of fundraising (2019 £126,400 and 2021 £73,173). The income was raised from three events; The Daisy Trust Ball in May, The Daisy Trust Fair in October and a collaboration Lunch with Poggenpohl in November as well as from interest and from donations.
Net income from the fair was £53,197. This was the second highest net income achieved at a Fair and in line with the previous income of £54,514 achieved in 2021. (nb this income figure is total net income 2021 less venue costs paid in 2020). The Fair was strongly supported and proved a great success. Over 100 stall holders attended, shopper numbers were over 1,000 and average spend was again approx. £205.00 per head. Average income per stall was approximately £2,000 but there was significant variation with over 10 raising £3,000.
The Daisy Trust Ball raised net income of £114,882 this compares to fundraising of £67,000 in 2019. The Ball was attended by a capacity 275 people. The Ball finances were structured so that ticket income and sponsorship of £52,000 covered the costs associated with the event and any funds raised on the evening could be given in grants. The funds were raised
Daisy Trust Accounts 2022
Page 1
from pledges, an auction, donations and a bar. £10,000 of the funds raised were given immediately in two grants to the event’s supporting beneficiaries. £105,000 was allocated to grants over a three year period£35,000 per annum 2022 – 2024. The funds for 2023 and 2024 were moved to a 32 day access fund currently @ 1.4%.
The Trust held an intimate lunch and cookery demonstration for 35 guests at Poggenpohl showroom, Fulham Road. Through ticket sales and a raffle £2,227 was raised.
The Trust does not actively seek donations but its strong standing in the community means that it attracts considerable support and received £27,505 in donations in 2022. An anonymous donation of £12,000 was received from one generous individual in November 2022 as well as other one-off donations of £5,000, £500, £300 and £250 throughout the year. Bute House School donated £3,000 and Chinti and Parker donated £4,059 in December. The Trust continues to receive monthly direct debits from several local residents one of whom also donated his winter fuel allowance of £400.
Expenditure
Expenditure totalled £65,423. Expenditure was primarily for direct costs associated with the three events. The committee worked to minimise these and ensure they were met by sponsorship wherever possible. Website costs were minimal at £647 covering registration, hosting and mailshots.
Grants
In 2022 the Trust gave £126,547 in 54 grants to 50 organisations, almost double the amount given in the two previous highest grant giving years. (£65,145 to 38 organisations in 2021, £65,500 to 47 organisations in 2019). Grant giving is made up of £20,000 pledged in 2021 and given following due diligence meetings in the first quarter of 2022, £10,000 given to beneficiary speakers at the Ball, and £96,547 in 47 grants awarded by the committee at monthly meetings. 99% of annual income was given in grants.
After a discussion at the 2021 Annual Meeting, the Trustees set a grant giving strategy of £100,000 - £120,000 depending on the success of the Fair. The Trust was able to fulfil the directions of the Trustees and extend the level given as a result of the extraordinary donations received in November and December.
Investments
The Trust held two Treasury Gilt over the year, one of which matures in 2024 and the other in 2032. The Trust continued to receive interest on its investments, this was £544 in 2022. The Trust also holds £25,347 in a Shawbrook CAF 60 Day Notice Account at 0.9%.
Daisy Trust Accounts 2022
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Assets
At the 2021 AGM the Trust held a stable position with a balance of funds of £111,498 in investments and working capital.
The total position for the year end 2022 is £179,605. £70,000 is allocated to grants in 2023 and 2024 and held in a Lloyds savings account, an additional £25,347 (14%) is held in a CAF savings account, £15,083 (8%) is invested in treasury stock and £69,188 (38.5%) is held in the current account.
Banking Procedures
The Trust now operates a fully electronic banking system for making grant and invoice payments. Other payments are met by committee members and reimbursed via expenses. As so many businesses now require card payment the Trust may wish to consider the benefits of applying for a credit card for use by the Treasurer and Chairman which has a set limit and payment approval would be by two signatories.
Audit and Charity Commission Returns
The Charity Commission requires all charities with a gross income greater than £25,000 to submit independent examination of accounts with their annual return. It was arranged for a qualified accountant friend of the Daisy Trust to complete this for 2021 accounts at no cost to the Trust and the return was made on time. The same arrangement will be made for the 2022 accounts.
Caroline Mackenzie Treasurer 14 March 2023
Supporting Documents Attached (separate document)
Income and Expenditure 2022 Event comparison Fundraising comparison Grants Closing Balance
Daisy Trust Accounts 2022
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The Daisy Trust
(Registered no. 283890) INCOME AND EXPENDITURE ACCOUNT 2022
| Opening Balances Shawbrook Bank CAF 12m Fixed Saver 25,347.12 Lloyds TSB Treasurers Account 66,522.44 Treasury 4 1/4 2032 5,083.31 Treasury 2 3/4 2024 (10000) 9,850.09 Cash in Hand 4,695.00 Opening Balances Income Daisy Trust Fair 2022 58,609.87 Daisy Trust Ball 2022 167,577.60 Daisy Trust Lunch 2022 2,342.09 Interest 680.48 Donations 27,504.63 2021 Income received 3,862.71 Total Income Expenditure Daisy Trust Fair 2021 5,412.58 Dasiy Trust Ball 2022 52,695.71 Daisy Trust Lunch 2022 115.00 Website and Marketing Materials 647.85 2021 Expenditure cashed 551.93 2022 Income not yet cashed 6,000.00 Total Expenditure Net Income Grants Total Grants Given 2022 126,547.00 2021 Grants cashed 2022 500.00 Total Grants Net Surplus/Deficit Closing Balances Shawbrook Bank CAF 60 day Fixed Saver 25,347.12 Lloyds Bank Treasurers Account 69,188.46 Lloyds Bank 32 Day Notice Account 1.4% 70,136.29 |
|
|---|---|
| 111,497.96 | |
260,577.38 65,423.07 |
|
| 195,154.31 | |
127,047.00 |
|
| 68,107.31 | |
5,083.31 9,850.09
[Treasury 4 1/4 2032 ]
[Treasury 2 3/4 2024 (10000) ]
[Closing Balance ]
179,605.27
The Daisy Trust
(Registered no. 283890)
Grants For The Year Ended 31 December 2022
| Organisation | Amount | Month given | |
|---|---|---|---|
| 2021 | Kulan Foundation | 500.00 | October 2021 |
| 1 | SEAPIA | 1,200.00 | January 2022 |
| 2 | Fulham Reach Boat Club | 1,500.00 | January 2022 |
| 3 | PBC | 400.00 | February 2022 |
| 4 | Alexandra Rose Charity | 1,500.00 | February 2022 |
| 5 | Turtle Key Arts | 1,000.00 | February 2022 |
| 6 | Music House for Children | 2,523.00 | February 2022 |
| 7 | Ashtma Relief | 1,000.00 | March 2022 |
| 8 | Kensington Athletic | 1,885.00 | March 2022 |
| 9 | Thomass Academy | 1,500.00 | April 2022 |
| 10 | Royal Hospital Neuro Disability | 1,000.00 | April 2022 |
| 11 | Westside Basketball Club | 1,400.00 | April 2022 |
| 12 | Knowledge Schools Trust | 2,060.00 | May 2022 |
| 13 | Burnt Orange Theatre Co | 564.00 | May 2022 |
| 14 | Doorstep Library | 2,000.00 | May 2022 |
| 15 | Dance West | 900.00 | May 2022 |
| 16 | SEAPIA | 2,000.00 | May 2022 |
| 17 | All Saints Church Summer Club | 2,000.00 | June 2022 |
| 18 | Royal Marsden | 4,000.00 | June 2022 |
| 19 | Solidarity Sports | 3,973.00 | June 2022 |
| 20 | West London Welcome | 3,500.00 | June 2022 |
|---|---|---|---|
| 21 | Flora Gardens Primary School | 1,000.00 | July 2022 |
| 22 | Sulgrave Club | 2,460.00 | July 2022 |
| 23 | Caring for Carers | 1,610.00 | July 2022 |
| 24 | Afgan Resettlement | 2,240.00 | July 2022 |
| 25 | Harrow Club | 3,000.00 | September 2022 |
| 26 | Global Action for Autism | 280.00 | August 2022 |
| 27 | Shepherds Bush Families | 3,000.00 | September 2022 |
| 28 | Alternative Theatre | 2,000.00 | September 2022 |
| 29 | Womens Trust | 2,813.00 | September 2022 |
| 30 | Clothing Collective | 1,000.00 | October 2022 |
| 31 | TS Challenge | 5,000.00 | October 2022 |
| 32 | Lyric Theatre | 1,500.00 | October 2022 |
| 33 | Shop and Donate | 1,000.00 | October 2022 |
| 34 | Hammersmith and Fulham CAB | 5,000.00 | November 2022 |
| 35 | Help Counselling | 3,000.00 | November 2022 |
| 36 | Dance West | 1,337.00 | November 2022 |
| 37 | Maggies Cancer Care | 2,532.00 | November 2022 |
| 38 | St Albans Church Youth Group | 1,000.00 | November 2022 |
| 39 | Upper Room | 4,000.00 | November 2022 |
| 40 | Urban Partnership | 1,870.00 | November 2022 |
| 41 | White City Theatre | 3,000.00 | November 2022 |
| 42 | Streetlytes | 1,000.00 | November 2022 |
| 43 | City Harvest | 3,000.00 | December 2022 |
| 44 | Alexandra Rose | 2,500.00 | December 2022 |
| 45 46 47 48 49 50 51 52 53 54 |
Dance West 1,000.00 December 2022 Key4Life 1,500.00 December 2022 Kids Network 3,000.00 December 2022 Total Grants 96,547.00 Special Grants H&F Foodbank 5,000.00 June 2022 Brunswick Club 5,000.00 July 2022 Special Grants Awarded 2021- Paid in 2022 Glassdoor 4,000.00 April Fulham Good Neighbours 4,000.00 April Barons Court Project 4,000.00 April H&F Foodbank 4,000.00 April Royal Trinity Hospice 4,000.00 March Total Special Grants 30,000.00 Total Grants Given 2022 126,547.00 |
|---|---|
Glassdoor Fulham Good Neighbours Barons Court Project H&F Foodbank Royal Trinity Hospice Total Special Grants Total Grants Given 2022 |
CHARITY COMMISSION FOR ENGLAND AND WALES | Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl MamrS of The Daisy Trust On accounts for the year ended 31 December 2022 Charity no {rfany) 283890 Set out on pages 1-2 [1<17.)e1 i5iLliJdv. 11)p. 1lurriD.. iil.2ddiliriii8I 8hè&'sTr I report to the Irustees on my examination of the accounts of the above charity (°the Trust") for the year ended 3111212022. Responsibilities and As the charity trustees of the Trusl. you are responsible for the preparation basis of report of the accounts in accordan with the requirements of the Charities Act 20111.the Acr). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carying oul my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. I confirm that no mat8rial matters have come to my attention {othar than Ihat disclosed below.) in connection with the examination which giv8s me cause to believe that in, any material respect: accounting rerdS were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examlner's statement I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. ' Please delete th8 words in the brackets rfthey do not apply. Signed: Date: Name: Alison Duncan Relevant professional qualification{s} or body (if any): Accountant ACA Address: 1 Elm Close Leatherhead Surrey Kr22 8HA IER October 2018
Section B Disclosure Only complete rfthe examiner needs to highlight matters of concem (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here briof d8tails of any items that the examiner wishes lo disclose. IER October 2018