## **Treasurer’s Statement 2023 FINAL**
Annual Trustee Meeting Tuesday 12[th] March 2024
2023 was a solid year for the Trust. The Trust held three successful fundraising events through the year. Funds were given in a timely way, annual net fundraising from events and donations was equal to the amount given in grants. However, the decision by the Hurlingham Club in September 2023 to suspend all events in 2024, meant that the committee did not make grants of the additional funds raised at the Ball and allocated to 2023 grant funding. These funds remain in the Trust’s assets and will be given in 2024/25, allowing for a more even spread of grant giving over time and grants not being limited by fundraising opportunities which may be more challenging.
## **Analysis of Accounts for Year Ended 31 December 2023**
## **Opening Balance**
The Daisy Trust opening balance for 2023 was £179,605. £70,136 was allocated to grants in 2023 and 2024 and held in a savings account, an additional £25,347 (14%) was also held in a savings account, £15,083 (8%) was invested in treasury stock and £69,188 (38.5%) carried forward in the current account.
## **Income**
During 2023 The Daisy Trust had a net income of £78,222. This was a slight increase on 2021 (£73,173) the previous year when the Trust had not held a Ball. The income was raised from three events; The Daisy Trust Quiz in May, The Daisy Trust Fair in October and a Carol Service in December as well as from interest and from donations.
Net income from the fair was £52,637. This was in line with 2021 (£56k) and 2022 (£53k), the slight fall (5%) over 3 years is a due to a small decrease in income from the daisy stall, donations and sponsorship. The Fair was strongly supported and all opportunities to raise funding within the current format were maximised. 100 stall holders attended, shopper numbers were over 1,000 and average spend was again just over £200 per head. Average income per stall was approximately £2,000 but there was significant variation with the best performing stalls raising over £4,000.
Daisy Trust Accounts 2023
Page 1
The Trust held a Quiz evening at the Rose Pub in Fulham in May, attended by 100 supporters and raising £2,904 from ticket sales and donations. And in December the Daisy Trust Carol Service was brought back after a 7 year gap. The event at St Dionis’ Church, Parsons Green raised £9,491. It was attended by 300 people and £3,178 was raised from the collection on the evening.
The Trust does not actively seek donations and the amount received varies each year but it has developed a number of partnerships that enable it to attract considerable ongoing support. It received £11,932 in donations in 2023. Donations were received from Bute House School £3000 and Savills £5000. The Trust continues to receive monthly direct debits from several local residents.
## **Expenditure**
Expenditure totalled £15,992. Expenditure was primarily for direct costs associated with the three events. The committee worked to minimise these and they were fully met by £,9250 in sponsorship.
With the agreement of the Trustees the committee undertook a one-off update of the Daisy Trust logo and branding with the aim of developing a new set of digital media. The driver for this was the need to have artwork that worked on social media and consistency in the Trust’s messaging and branding. The project was successfully completed by the committee during 2023. The rebranding work cost £4,386 in total including 4 new banners and event photography. Other costs were incurred for website hosting, izettles and local giving membership. Total marketing and website costs were £5,712
## **Grants**
In 2023 the Trust committee awarded £75,426 in 44 grants to 42 organisations at its monthly meetings, considerably less than the £126,547 given in 2022, but more in line with the grant levels of £65,000 given in both 2021 and 2019. For the second year in a row 98% of annual income was given in grants.
After a discussion at the 2022 Annual Meeting, the Trustees set a grant giving strategy of £80,000 - £100,000 depending on the success of the Fair. As discussed above, the Trust’s future ability to raise funds through its Fair at the Hurlingham Club is no longer guaranteed at the level achieved in the last 3 years. The Fair contributes 80-100% of fundraising in a year when the Trust does not hold a Ball. The Committee therefore continued to make grants to meet need wherever possible and at a sustainable level while still allowing it to continue to allocate grants at a similar level from January 2024 – June 2025.
Daisy Trust Accounts 2023
Page 2
## **Investments**
The Trust held two Treasury Gilt over the year, one of which matures in September 2024, the Trustees will wish to consider how the matured funds should be dealt with. The Trust continued to receive interest on its investments, this equated to £2,147 in 2023.
## **Assets**
At the 2023 AGM the Trust held a stable position at year end 2022 with a balance of funds of £179,605 in investments and working capital.
The total position for the year end 2023 is £182,999. £71,647 (39%) is allocated to grants in 2024 and the first half 2025 and held in a savings account, an additional £25,347 (14%) is also held in a savings account, £15,083 (8%) is invested in treasury stock and £71,070 (39%) is held in the current account.
## **Banking Procedures**
The Trust now operates a fully electronic banking system and has the use of a debit card for on line purchases.
## **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 2022 accounts at no cost to the Trust and the return was made on time. The same arrangement will be made for the 2023 accounts.
## **Caroline Mackenzie Treasurer 12 March 2024**
## **Supporting Documents Attached (separate document)**
Income and Expenditure 2023 Event comparison Fundraising comparison Grants Closing Balance
Daisy Trust Accounts 2023
Page 3
## **The Daisy Trust (Registered no. 283890) INCOME AND EXPENDITURE ACCOUNT 2023**
## **Opening Balances**
|Shawbrook Bank CAF 60 day Fixed Saver
25,347.12
Lloyds Bank Treasurers Account
69,188.46
Lloyds Bank 32 Day Notice Account
70,136.39
Treasury 4 1/4 2032
5,083.31
Treasury 2 3/4 2024
9,850.09
**Opening Balance**
**Income**
Daisy Trust Fair 2023
57,765.57
Daisy Trust Brain Game 2023
4,255.94
Daisy Trust Carol Service 2023
11,772.83
Interest
2,147.81
Donations
11,932.37
2022 Income received
6,000.00
2023 Expenditure not yet cashed
940.36
**Total Income**
**Expenditure**
Daisy Trust Fair 2023
5,128.10
Daisy Trust Brain Game 2023
1,351.42
Daisy Trust Carol Service 2023
2,281.26
Website and Marketing Materials
5,712.40
2023 Income not yet cashed
1,519.00
**Total Expenditure**
**Net Income**
**Grants**
Total Grants Given 2023
75,429.00
**Total Grants**
**Net Surplus/Deficit**
**Closing Balances**
Shawbrook Bank CAF 60 day Fixed Saver
25,347.12
Lloyds Bank Treasurers Account
71,070.66||
|---|---|
||**179,605.37**|
||**94,814.88**
**15,992.18**|
||**78,822.70**|
||**75,429.00**|
||**3,393.70**|
|||
Lloyds Bank 32 Day Notice Account 71,647.89 Treasury 4 1/4 2032 5,083.31 Treasury 2 3/4 2024 9,850.09
## **Closing Balance**
**182,999.07**
**The Daisy Trust (Registered no. 283890)**
## **Grants For The Year Ended 31 December 2023**
|||**Amount**|**Amount**|
|---|---|---|---|
||**Beneficiary**|**applied for**|**awarded**|
|1|Royal Trinity Hospice|£5,000.00|£4,000.00|
|2|Caritas Bakhita House|£2,035.00|£2,035.00|
|3|The PBC Foundation|£250.00|£250.00|
|4|Lumi Foundation|£2,000.00|£1,500.00|
|5|This New Ground (TNG)|£2,258.00|£2,250.00|
|6|Fulham Good Neighbours|£4,000.00|£2,000.00|
|7|Kensington Athletic|£1,805.00|£1,805.00|
|8|Fulham Reach Boat Club|£2,500.00|£2,500.00|
|9|Age UK H&F|£3,000.00|£2,000.00|
|10|Dance West|£1,000.00|£1,000.00|
|11|Thomas's Academy|£1,000.00|£1,000.00|
|12|Asthma Relief|£1,000.00|£1,000.00|
|13|Royal Hospital for Neurodisab|£1,050.00|£1,050.00|
|14|Bassuah Legacy Foundation|£1,000.00|£1,000.00|
|15|Lygon House Social Club|£1,000.00|£1,000.00|
|16|All Saints Church Fulham|£2,000.00|£2,000.00|
|17|Royal Marsden Cancer Charity|£4,000.00|£2,000.00|
|18|Afghanistan and Central Asian|£3,000.00|£1,000.00|
|19|Aspire|£3,840.00|£1,170.00|
|20|S.E.A.P.I.A|£2,000.00|£2,000.00|
|21|Music House for Children|£1,958.00|£1,958.00|
|22|Hammersmith and Fulham Fo|£5,000.00|£2,500.00|
|23|Bishop Creighton House|£3,500.00|£2,000.00|
|24|Fulham Good Neighbour Serv|£1,485.00|£1,485.00|
|25|Barons Court Project|£3,500.00|£3,500.00|
|26|Solidarity Sports|£450.00|£450.00|
|---|---|---|---|
|27|The Brunswick Club for Young|£2,111.00|£2,111.00|
|28|The Sulgrave Club|£2,125.00|£2,125.00|
|29|Kulan Foundation|£2,000.00|£2,000.00|
|30|The Honeypot Children’s Char|£2,300.00|£2,300.00|
|31|Doorstep Library|£2,500.00|£2,000.00|
|32|Lyric Hammersmith Theatre|£2,000.00|£1,500.00|
|33|Streetlytes|£600.00|£600.00|
|34|Burnt Orange Theatre|£1,135.00|£1,135.00|
|35|Glass Door Homeless Charity|£2,380.00|£2,380.00|
|36|The Masbro Elders Project|£1,500.00|£1,500.00|
|37|Caring for Carers Association|£1,932.00|£1,000.00|
|38|The Upper Room (St Saviour's|£4,436.78|£2,500.00|
|39|St Albans PCC|£975.00|£975.00|
|40|S.E.A.P.I.A|£1,850.00|£1,850.00|
|41|White City Theatre Project|£3,000.00|£2,000.00|
|42|Dance West|£1,000.00|£1,000.00|
|43|Resurgo Trust|£2,000.00|£2,000.00|
|44|Women's Trust|£3,000.00|£2,000.00|
||**Total Grants Given 2023**|**£96,475.78**|**£75,429.00**|
CHARITY COMMISSION
FOR ENGLAND AND WALES |
Independent examiner's
report on the accounts
Section A
Independent Examinerfs Report
Report to the trusteesl
mgmbers of
The Dalsy Trust
On accounts for the year
ended
31 December 2023
Charlty no
Irf any)
283890
Sgt out on pagos
I report to the thjstees on my examination of the accounts of the above
charity (Ihe Trust.) for the year ended 3111212023.
Rèsponslbllitlos and As the charity trustees of the Trust. you are responsible for the preparation
basls of report of the accounts in accordance with the quirementS of the Charities Act
2011 {°the Acr}.
I report in resped of My examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carying out my examination, I
have followed th& applicable Directions given by the Charity Commisslon
under section 145(5Xb} of the Act.
I hav8 compléted my exarnination. I confim that no material matters hav8
come to my attention {oth8r than Ihat disclosed b81ow .) in connection with
the examination whith gives me cause to believe that in, any mat8rial
respecl..
accounting records were not kept in accordance with section 130 of
the Act or
the accounts do not accord with the accounting records
Independent
examlnerfs statement
I have no concems and have come across no other matters in connection
with the examination to whidi atlention should be drawn in order to enable a
proper understanding of the accounts to be reached.
. Please delete the words in the brackets if they do not apply.
Signed:
Date:
22110 /zo4-
Name:
Alison Duncan
Relevant professional
qualifi¢alion(s} or body
(if any):
Accountant ACA
Address:
1 Elm Close
Leatherhead
Surrey Kr22 8HA
IER
October 2018
Seclion B
Disclosure
Only complete if the examiner needs to highlight matters of conGem (see CC32,
Independent examination of charity aGcounts= direction5 and guidance for
examiners).
Givg here brief details of
any itoms that thè
examKner wishes to
dlsclose.
IER
October 2018