Group Treasurer’s Financial Review Year to 31[st] March 2021
The past year has been a real roller-coaster of a ride - whichever way you look at it! At the start of April, it looked as though we would have no Receipts available, certainly not for the summer term, and though our expenses were greatly reduced we would still have to meet the costs of our utility bills, insurances, and Binsey costs.
Annually, we maintain a reserve at the equivalent of two-term’s worth of expenses which we would now have to apply.
It became apparent that our usual fundraising activities would be greatly curtailed, creating a major shortfall in our receipts. However, before we were put to the test, a grant from the Vale of White Horse District Council bolstered our funds by £10k and averted any immediate crisis.
Bank Accounts The Scout Group maintains a current account with HSBC, a current account and a savings account with CAF Bank Ltd and a 60-Day Notice account with Shawbrook Bank, returning 0.4% on our £10,000 (£40 pa). A paltry return but in this financial climate it is as good as it gets.
Grants and Donations In May, we received £10,000 from Vale of White Horse District Council as the Rates Relief Grant and have received a further £8612 Rates Relief Grant during December/January.
We would like to thank Oxfordshire Communities Foundation which donated £1500 and Abingdon Town Council which donated £1200 towards our exterior lighting. Councilor Emily Smith arranged a donation of £500 towards our Covid-19 compliance materials.
Fund Raising We quickly realized that we would not be able to fundraise through our usual channels and so Thank You to everyone who generously gave that bit extra.
Gift Aid Gift Aid is being claimed annually for subs, sponsored activities, and eligible small donations. Only a handful of families have expressed a wish not to be included in the scheme.
Services Over the Lockdown periods, we ensured that our Gas and Electricity usage was kept to the minimum. Unfortunately, CAF Bank Ltd have raised their Service Charge to £8 per month and it may be worth looking at other providers.
2nd Abingdon Scout Group, RN 28. The Scout Hut, Farm Road, Abingdon, Oxfordshire OX14 1NB. Registered charity in England and Wales (No. 300482) | www.2ndabingdonscouts.org.uk
Notes on the Financial Statements
The bank accounts with CAF Bank Ltd, HSBC, and Shawbrook 60-Day Notice Account are presented as one account.
Statement of Financial Activities Figures for the year ended March 2021 show receipts of £33737 with an expenditure of £20806 , giving a net surplus of £12931 which will be added to the funds earmarked for the refurbishments and improvements to the Scout Hut and equipment purchases.
Total funds available from CAF and HSBC accounts are £54111 as at 31/3/2021 . This is made up of Restricted Funds, Unrestricted Funds, a Flood Contingency, and a contingency to meet immediate costs should our normal sources of income be disrupted.
Subscriptions The restrictions due to the Coronavirus greatly impacted on our ability to provide the range of activities we are used to. Because of this, we reduced the subscriptions to meet our Capitation Fees to District, County, and Headquarters. The running costs, usually included in the subscriptions, were paid from the grants received.
Restricted Funds are grants and donations given for specific projects. This year we received grants of £1500 from Oxfordshire Communities Foundation, £1200 from Abingdon Town Council, and £500 from Oxfordshire County Council.
Building Works Exterior lighting has been installed at the front and back of our Scout Hut, the outside wash-up area has been completed, and the Emergency Lighting has been updated. This will allow us to make full use of the areas beyond the immediate restrictions. Further works will include repairs to the cladding, repairs to the bridge parapet, and kitchen refurbishment.
Reserves Policy The Scout Group is required to have a Reserves Policy to demonstrate good financial control.
The Scout Hut was flooded in the summer of 2008 and the Executive have been unable to insure against a recurrence of such an event. They believe, therefore, that we should have sufficient reserves to meet such costs that may be incurred should this happen again. The sum, under annual review, is currently set at £12,000.
2nd Abingdon Scout Group, RN 28. The Scout Hut, Farm Road, Abingdon, Oxfordshire OX14 1NB. Registered charity in England and Wales (No. 300482) | www.2ndabingdonscouts.org.uk
The Executive have set the Subscriptions at a level to meet our Day-to-Day costs. They believe, however, that it is prudent to have a sum that is the equivalent to 2 terms’ worth of subscriptions should our usual sources of income be disrupted and a contingency to meet any sudden demand for funds for repairs and maintenance.
Investment Policy The Scout Group has invested £10,000 in a 60-Day Notice account with Shawbrook Bank. The rate of return is minimal as is to be expected in the current financial climate.
David Herbertson Group Treasurer April 2021
2nd Abingdon Scout Group, RN 28. The Scout Hut, Farm Road, Abingdon, Oxfordshire OX14 1NB. Registered charity in England and Wales (No. 300482) | www.2ndabingdonscouts.org.uk
2nd Abingdon Scout Group
Statement of Financial Activities
Year Ending 31st March 2021
| RECEIPTS FROM :- Subscriptions & Gift Aid Grants, Fundraising & Donations Activities - return of camp deposits Other Total EXPENDITURE ON :- Capitation & Insurance Operational Costs Fundraising Activities Building Works Equipment (Sale of Boat Trailer) Covid-19 & Administration Expenses Total NET RECEIPTS OVER EXPENDITURE RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD BALANCE SHEET At 31 March 2021 CURRENT ASSETS CAF Bank Cheque Account CAF Bank Reserve Account Shawbrook 60 days Notice Account H S B C Cheque Account NET CURRENT ASSETS CURRENT LIABILITIES Capitation Fees TOTAL ASSETS LESS CURRENT LIABILITIES |
General Funds 8809 21424 -744 1047 30538 8810 3110 4026 681 494 -400 885 17606 12931 13330 30163 618 44111 |
Restricted Funds 3200 3200 2700 500 3200 10000 10000 |
Total Funds 8809 24624 -744 1047 33738 8810 3110 4026 681 3194 -400 1385 20806 12931 2020/21 41180 54111 2020/21 13330 30163 10000 618 54111 -1 54112 |
2019/20 20378 12075 14491 2450 49395 7770 6457 3921 14173 3680 0 1432 37433 11962 2019/20 29218 41180 2019/20 10851 20021 10000 308 41180 -1 41180 |
|---|---|---|---|---|
NOTES ON THE FINANCIAL STATEMENTS
| BUILDING WORKS COST At 1 April 2020 to 31 March 2021 Scout HQ, Farm Road Boatbase, Binsey TOTAL COSTS EQUIPMENT PURCHASES COST At 1 April 2020 to 31 March 2021 Scout HQ Equipment Boatbase Equipment (Sale of Trailer) DEPRECIATION At 1 April 2020 to 31 March 2021 NET BOOK VALUE SUBSCRIPTIONS Operating Costs Insurances Scout Hut Services Boatbase Rent & Services Running Costs Activities Badges Covid-19 & Administration Expenses Annual Costs Receipts Subscriptions Gift Aid Less Capitation Net Receipts Over Expenses Scout Members as at 31st January Net Surplus/Deficit per Member |
General Funds 494 0 -400 |
Restricted Funds 2700 0 0 0 |
Total Funds 3194 0 3194 0 -400 -400 0 2020/21 3311 1509 1073 5894 241 469 1385 2095 7989 5710 3099 5499 3310 -4679 116 -40 |
2019/20 3680 0 3680 0 0 0 0 2019/20 3095 3458 1896 8449 1900 1044 1423 4366 12815 14946 5432 4675 15703 2888 125 23 |
|
|---|---|---|---|---|---|
Receipts
880 0 -744 0 167 8809 24624 Subscriptions & Gift Aid Grants, Fundraising & Donations Fireworks Camping & Activities Uniform & Badges Explorers' Rent & Hall Hire Miscellaneous
Expenditure
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510 0
8130
1385
-400563 12250 8810
3194
Capitation & Insurances Fireworks Expenses
Fundraising 40260211 Camping & Activities
Uniform & Badges Building Works
Equipment Purchase Services
469 HQ Maintenance Rent (OxCC) & Services
Equipment Maintenance Licences & Subscriptions
Training Equipment
Covid-19 & Administration Expenses
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| ACCOUNTS - For The Year Ended 31 March 2021 RECEIPTS Charitable Receipts & Fundraising Subscriptions & Gift Aid Grants, Fundraising & Donations Fireworks Camping & General Activities Camping & Activities Includes £1000 grant from RN Sea Scout 100 Fund Uniform & Badges Other Receipts Explorers' Rent & Hall Hire Miscellaneous TOTAL RECEIPTS EXPENDITURE Capitation & Insurances General - Activities, Camping & Fundraising Fireworks Expenses Fundraising Camping & Activities Uniform & Badges Building Works Building Works Equipment Equipment Purchase Scout HQ Services HQ Maintenance Boat Base Rent (OxCC) & Services Equipment Maintenance Licences & Subscriptions Administration Training Equipment Covid-19 & Administration Expenses TOTAL EXPENDITURE NET RECEIPTS OVER PAYMENTS |
2020/21 8809 24624 0 -744 0 880 167 33738 8810 4026 0 211 469 3194 -400 1225 813 563 510 0 0 0 1385 20806 12931 |
2019/20 20378 1419 10656 14491 416 1838 197 49395 7770 3793 128 13129 1044 3680 0 2702 1859 811 609 475 56 10 1366 37433 11962 |
|---|---|---|
Indopendent Examinerfs Report to the Trustees of the 2nd Abin don SCOUT GROUP I report on the a(x0Lts of the Group for the year ermled 31 2021 wthlch oJmprisg the Slatsmont of Flnanclal AGbvllSes, the Balan Sheet, a1 related rntes. Thls report is made solety to the tnJst8es In accordance s8Gti( 145 of the Ch8rfOes Act 2011. My worf( h88 been undertaken so that l rnight stale lo the charitS trust8os IjSe matters l am requlred 10 5ts1e lo them In an Independ8nt Exarnlner's report and for other purpose. To the fullest extent pemiittod by law, I do Ml accept L assume responslbS11ty to anyon8 0r than the charity and tho charity's Iruslees for my examlnaljon work. Rgsp¢ctlvo responslbllllles ol Trustèos and Examingr The Group's truslegs are responsible for the preparation of the acc¢JJnts. They cnnsbdBr that an aL1t 1$ not requlred for Ihls year (under Sectlon 144 of Charilles Act 2011 {the Charities Act)) and that an Independerbt examinalon Is needgd. 11 Is my responslbillty lo- Examlne the actounts (urKler Sectlon 145 of the Charltles ktl: To follow the procedures 181d down in the General l)rectlons g6ven by th6 Charity CommIsslon8 (under Seclon 14515Xb) of the CharStles Act).. and To stala whèthar parb¢ular matters have ce to my attwtion. Basis of Independent Exam18 report My exarnination was carri8d out In accordaFW with the Generd Dlrectk¥is gTven by the Charity Commls61oners. An examination indudes a reW of the accounllng rrS kept by the Gr(xJplDistrict ond a wmp8rison of the accounts presented with those records. 11 also IjeS rxJrsideraiI of any lUsUal items or disdoswes in the accounts, a1 seeking explanaljons from as trustees COlrj 8ny SLth matters. The procedures ertaken do not provide all Ihe de that would be required ir) an a1( aThJ consequently no oplnlon Is given as tcs whether the accounts pres8nl a %fue and vlBw and Ihe retx)rt Is Ilmlted to IIM)se matters sel out In the statement below. Indopend8nt Examinerfs statemert In conneLIM)n wilh my exgnlnalon. no malter h8S (¥)me to my attth)n. . whlch glves me leasable cause to belleve th8t in. any matertal respect. the requlrements to keep actountlng re(x)rds In ardance wtth Se 1J) of Ihè Charilies Act '.and to prepare accounts a(tord wrlh the a¢UnI1ng rerA)rds and comply vAth the acixjuntlng requIr8mts of th8 Charttles Act have r1 been met LY 2. to whlch, in my opinn. attention shouhl be drawn In ¢xder to enab18 a proper le[s1n9 of the ?CCOLmls lo be reached. Name.. Qualification.. FPC + .(.'e M&P... ?f...l.-:..j.Zo2Z