**AGM – 18th October 2024** 

## **Treasurer's report** 

**Main Account –** Please find with this report a summary of the income and expenditure for this financial period.  That is April 2023 to March 2024.  Our income is around £10,000 higher this year than last year, however our expenditure is also around £10,000 higher, so we have remained consistent. We remain solvent and in a healthy position. 

Subs are around the same as last year, £10, 086.00 to last year’s £10,664.00.  I think this is because we have tried to be consistent with monthly inductions to keep recruitment and retention at an even level. 

General fundraising has increased by £2,000, however band fundraising has increased from £585.00 to £4, 800.  This is mainly due to a grant but there have been some great donations to the band this year as well.  There have been no grants this year, however grant applications haven’t been a priority, as there weren’t any specific large capital projects undertaken this year. 

Hall hire income has increased by £2,000 on last year and this is set to be more next year, as we have had an increase in regular hall hire bookings for community groups during the weekdays.  Income from the bar has increased by £3,000 which is really good, and bar pricing is due to have an inflationary increase next financial year. 

Uniform, Merchandise, standeasy and the wardroom have all broken even and covered their own costs this year. 

Our biggest expenditure has been utilities.  Gas and electric rising by £3,000, insurance by £400, and building maintenance costs £1,500 higher, however cleaning and waste management has reduced by £500. 

**P&SA Account** – Due to a miscommunication with the bank, the P&SA account was abruptly closed and the balance transferred to the main account.  A new account will be opened but this hasn’t been achieved this financial year. 

**Reserves Account** – The reserves account remained unused and available. Last financial year it was decided by the UMT that it was prudent to increase the available amount.  This year it has increased by £3,000 to around £10,000.  The goal is £12,000 and we expect to reach this by late 2024. 

Overall, our income has covered our expenditure and with the available balance of the main account increasing to £11,000 at the end of March 2024. We are in a good position moving forward and I would like to thank all the volunteers for their contribution to this. 



The accounts have been audited by Mrs. Sarah Chambers, an AAT level qualified bookkeeper, to whom we extend our thanks for undertaking this task.   Any Questions? 



## **BRIDGWATER UNIT 517 OF THE SEA CADET CORPS** 

## **Registered Charity No. 304495** 

## **Statement of Accounts 01.04.2023 - 31.03.2024** 

|**Account**|**Opening Balance**<br>**01.04.2023**|**Income**|**Expenditure**|**Closing Balance**<br>**31.03.2023**|
|---|---|---|---|---|
|Unit Account|£14,301.03|£52,800.36|£42,016.04|£25,085.35|
|_Unit Account – SDC Grant funds £1,899.76, Hall Deposits of £950.00, Grants for equipment of_<br>_£2,116.64, Band Budget of £6,500.95 and funds from the closed PS&A account £1,836.28 leaving_<br>_available funds at £11,781.72._|||||
|Reserves|£7,044.22|£3,103.11|£0.00|£10,147.33|
||||||
|P&SA Bar<br>Account|£1,000.00|£9,209.04|£10,209.04|£0.00|



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 2024** 

|**Income**|||**Expenditure**||
|---|---|---|---|---|
|MSSC Course<br>Bursaries|£0.00||Travel Expenses|£7.80|
|MSSC Travel<br>Contributions|£1,395.08||Cleaning/Waste|£3,646.42|
|Grants|£0.00||Building<br>Maintenance|£2,953.37|
|Donations|£2,613.54||Boat Maintenance|£127.95|
|Cadet Contributions|£10,086.2<br>3||Vehicle<br>Maintenance|£1,297.88|
|Cadet Course Fees|£3,635.21||Merchandise Costs|£238.90|
|Transferred Funds|£2,198.02||Utilities|£10,887.9<br>8|
|Fundraising|£4,096.21||Insurance|£3,338.40|
|Band Fundraising|£4,381.00||Uniform Costs|£759.10|
|Hall Hire|£10,040.6<br>3||Council Rates|£313.60|
|Hall Hire deposits|£4,270.00||ConsultancyFees|£0.00|
|Standeasy|£525.20||Ofce Supplies|£869.39|
|Uniform Deposits|£775.00||Computer repairs|£54.98|
|Wardroom|£344.07||Standeasycosts|£530.96|
|Merchandise Sales|£242.26||Fundraisingcosts|£191.20|
|Other Revenue<br>Receipts|£8,197.91||Fuel|£1,129.64|
||||Course Fees|£365.00|
||||Training course<br>costs|£3,373.37|
||||SDC Grant|£0.00|
||||Band costs|£1.025.93|
||||Wardroom|£304.21|
||||Hall hire deposit<br>refunds|£3,695.65|
||||Sundries|£6,904.31|
||||||





**£52,800. 36 Total** 

**£42,016. 04** 

**Total** 

## 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 2024** 

|**Sundries**||
|---|---|
|One.com fee|£21.58|
|Coomber Security Systems|£284.26|
|Durleigh Sailing Club Fees|£256.00|
|Postage|£9.95|
|ICO–CCTV registration (GDPR)|£35.00|
|Bar Equipment/Stock|£2,479.74|
|Paypal Jotform annual fee|£198.61|
|Liquor License|£180.00|
|Liquor License extension|£100|
|Council Lottery License|£40.00|
|Minibus Hire|£300.00|
|SUP purchase|£170.45|
|Maintenance Items|£27.18|
|Stock and items for the Galley|£932.44|
|Trophy Engraving|£451.80|
|Refundable travel|£10.90|
|Andromeda fire & security|£86.40|
|Photographer|£90.00|
|Course refund|£30.00|
|MSSC unit contribution|£200.00|
|Transfer to reserve|£1,000.00|
|**Total Expenditure**|**£6,904.31**|
|||





Page3of3

CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's report on the
accounts
Section A
Independent Examiner's Report
Report to the trustees
(X)DGillATI R OfrJiT sil of I rE
On accounts for the year
ended
102
Charfty no
(If any)
3044-Q5
Set out on pages
I report to the trustees on my ex8minalion of the accounts of the above
charity ("the Trust.) for the year ended 31 0 3 20 24
As the charity's trust88s, you ar8 responsible for the preparation of the
accounts in acGordanc8 with the requirements of the Charities Act 2011
(Ihe Act.)
I report in respect of my examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carrying out my examination, I
have followed all the applicable Directions given by the Charity Commission
under section 145(5){b) of the Act.
Responslbllltles and
basls of report
Independent
examinerfs statement u
appli6￿￿. Delete [ ] if not appllcable.
I have completed my 8xamination. I confinn that no material matters have
come to my attention in connection with the examination (4th•Ft
disc1￿.} whiGh gives me cause to beli8V8 that in. any material
respect:
th8 accounting records were not kept in accordance with section 130
of the Charities Act: or
the accounts did not accord with the accounting records: or
the accounts did not comply with the applicable requirements
conceming the form and content of accounts set out in the Charities
(Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fair, view which is not a matter
considered as part of an independent examination.
I have no concerns and have come across no other matters in connection
with the examination to v4hich attention should be drawn in this report in
order to enable a proper understanding of the accounts to be r8ached.
Please delete the words In the brackets if th9y do not apply.
Date:
Signed:
2bio812014
Name:
Relevant prolesslonal
qualification(s) or body
I¥AT
IER
Oct 2018

(If any):
Address:
LS GA5 )6i
Section B
Disclosure
Only complete if th8 examiner ne8ds to highlight material matters of concern
(see CC32. Independent exarnination of charity accounts: directions and
guidance for examiners).
Glve here brlef detalls of
any Items that the
examlner wlshes to
dlscloge.
IER
Oct 2018