## **AGM – 22nd November 2023** ## **Treasurer's report** **Main Account –** This financial year has seen a steady upward trend in all financial aspects of the Bridgwater Sea Cadets accounts. Subs have continued to increase, as recruitment has also increased from last year. We are still using the GoCardless app and have felt many benefits from it. It saves volunteer time; it is easy for parents to use and once set up runs quite seamlessly. Cadet contributions have increased by £3,000 this financial year. Fundraising has increased from £800 to almost £2,300, and there are many plans to increase this even more next year. There has been a big dip in grants this year, as there were not any specific projects that needed fundraising for. However, this is an avenue that can be explored more next year, for future upcoming projects. As with the rest of the country, we have felt the cost-of-living pressure with the cost of our utilities, council tax, cleaning/waste management, vehicle maintenance and fuel costs increasing. Council tax, cleaning/waste management and fuel costs have more than doubled. Our utilities have increased by £2,000 this financial year; however, this is expected to be a much larger increase next year. **P&SA Account** – As expected we have had an increase in bar sales and hall hires this year. Hall hire revenue has doubled from last financial year. The sales revenue that was transferred to the main account was more than £5,000. In December 2022 we were able to invest in a soda machine. The installation and equipment cost £1,700, which were funded fully through profit from sales at the bar. The investment in this equipment has increased profitability and is easier for the volunteers to use, helping with the flow of service and the reduction of waste. **Reserves Account** – The reserves account remained unused and available. Towards the end of the period, it was agreed by the Unit Management Team that, as the cost of living is rising, it is prudent to increase the available amount. It was increased by £1,000 by the end of this financial year. Overall, our income has covered our expenditure and with the balance of our main account increasing by £4,500, I hope you will agree that we are in a good position moving forward. This has been achieved by the hard work and effort that all the volunteers have contributed. Thank you. The accounts have been audited by Mrs. Sarah Chambers, an AAT level qualified bookkeeper, to whom we extend our thanks for undertaking this task. Questions? ## **BRIDGWATER UNIT 517 OF THE SEA CADET CORPS** ## **Registered Charity No. 304495** ## **Statement of Accounts 01.04.2022 - 31.03.2023** |**Account**|**Opening Balance**
**01.04.2022**|**Income**|**Expenditure**|**Closing Balance**
**31.03.2023**| |---|---|---|---|---| |Unit Account|£9,750.21|£37,727.55|33,176.73|£14,301.03| |_Unit Account – SDC Grant funds £1,899.76, Hall Deposits of £350.00, Grants for equipment of_
_£2,304.02 and Band Budget of £3,070.56 leaving available funds at £6,676.69._||||| |Reserves|£6,030.29|£1,013.93|£0.00|£7,044.22| |||||| |P&SA Bar
Account|£1,248.48|£15,127.45|£15,375.93|£1,000.00| Page 1 of 3 ## **BRIDGWATER UNIT 517 OF THE SEA CADET CORPS** ## **Registered Charity No. 304495** **Income and Expenditure for Unit Account for the Year Ending 31[st] March 2023** |**Income**|||**Expenditure**|| |---|---|---|---|---| |MSSC Course
Bursaries|£0.00||Travel Expenses|£0.00| |MSSC Travel
Contributions|£1,107.57||Cleaning/Waste|£4,215.47| |Grants|£2,014.40||Building
Maintenance|£761.62| |Donations|£941.19||Boat Maintenance|£66.52| |Cadet Contributions|£10,664.6
0||Vehicle
Maintenance|£1,066.47| |Cadet Course Fees|£2,679.00||Facilities Trustee
Budget|£0.00| |Transferred Funds|£4,837.94||Utilities|£7,916.45| |Fundraising|£2,299.35||Insurance|£2,870.00| |Band Fundraising|£585.34||Uniform Costs|£545.01| |Hall Hire|£8,194.50||Council Rates|£704.00| |Standeasy|£349.01||ConsultancyFees|£15.50| |Uniform Deposits|£710.00||Ofce Supplies|£467.65| |Wardroom|£370.68||Computer repairs|£92.43| |Other Revenue
Receipts|£2,973.97||Standeasycosts|£295.06| ||||Fundraisingcosts|£0.00| ||||Fuel|£1,415.05| ||||Course Fees|£2,074.10| ||||Training course
costs|£311.16| ||||SDC Grant|£1,639.18| ||||Band costs|£44.91| ||||Wardroom|£298.05| ||||Sundries|£8,378.10| |||||| |||||| |**Total**|**£37,727.**||**Total**|**£33,176.**| **73** **55** Page 2 of 3 ## **BRIDGWATER UNIT 517 OF THE SEA CADET CORPS Registered Charity No. 304495** **Income and Expenditure for Unit Account for the Year Ending 31[st] March 2023** |**Sundries**|| |---|---| |One.com fee|£164.10| |Website Design|£220.00| |Coomber Security Systems|£226.61| |Durleigh Sailing Club Fees|£240.00| |Postage|£3.50| |ICO–CCTV registration (GDPR)|£35.00| |Bar Equipment/Stock|£75.29| |Paypal Jotform annual fee|£175.57| |Liquor License|£180.00| |Hall Hire deposit refund|£2,116.00| |Subs refunds|£452.00| |White goods|£170.00| |SUP purchase|£2,209.50| |Maintenance Items|£329.64| |Stock and items for the Galley|£828.88| |Purnells printers|£73.21| |Decorations for hall hire|£58.96| |Shopping by ship light refund|£48.00| |Trophy Engraving|£322.70| |Refundable travel|£152.80| |Viridor Waste uncleared cheque|£84.34| |Photographer|£50.00| |Course refund|£162.00| |**Total Expenditure**|**£8,378.10**| ||| ||| ||| Page3of3 (HARITY COMMISSION Independent oxaminerfs report on tho accounts S￿CtIon. A IiideDe', ¥.iiir.' np:" s Re rjoi't off IA£S 6RIOGoJATÉR L)NJi I s Il CADEra 2olS Sovk9S Sot out on pages chp4ity (Ihe TrL￿forthO >wr ended ' (Th A(f). UndWS8d￿ 145 of lh8 2011 A(X and In fxry#￿ c4Ji my tx￿￿1￿atk￿, I dor sod¥)n 1415Xb) oftho that the a(xx)urtS give a In￿ and fairf ¥hw whith is ￿t a rnatt tho examlnation to attenlv)n 8hwtd be dra¥m in this rap)rt in 0912023 quallficatirf#) or body AqT LEv£L 3 0 IPlO(rA I K) A(COUfvJTINs IER Oct 2018 of2 18rt19f2ff23. 20 Ilf any): 3ij,-50EUI= Only {￿mplete if the examiner needs to material rnattern of rgJn( any ItomB thatthe oxamlnorwlsh•8 to disclo80. OGt 2018 f2 181(y)rJ)23, 2027