TREASURER’S REPORT
Mr. President, Mr. Chairman, Fellow Comm Members, Lady & Choristers,
1. ACCOUNTS YEAR ENDING 2024
a) The Audit Report
The audit report (below) for year-end Dec 2024 has been circulated for your review …..
| Pontnewydd Male Choir | Pontnewydd Male Choir | Pontnewydd Male Choir | Pontnewydd Male Choir | Pontnewydd Male Choir | Pontnewydd Male Choir | ||||
|---|---|---|---|---|---|---|---|---|---|
| Inc | ome & Expenditure Account 2024 | Balance Sheet as at 31st December 2024 | |||||||
| Income | £ | Expenditure | £ | £ | |||||
| Membership Subs | 9,200.02 | Gratuites | 8,012.00 | ||||||
| Bonus Ball | 1,370.00 | Telephone | 304.43 | Current Assets: | |||||
| Donatons & Grants | 2,913.00 | Music | 278.64 | ||||||
| Misc | 780.50 | Donatons | 558.72 | NatWest Community Account: | 7,711.32 | ||||
| Anniversary Dinner | 1,715.00 | Audit Fees | 110.00 | ||||||
| Concert Sponsorships | 1,300.00 | Uniforms | 1,087.20 | ||||||
| Performance Proceeds | 5,706.92 | Room Hire | 3,507.00 | Investments: | |||||
| Tour | 7,500.00 | Storage | 884.16 | ||||||
| CD Sales | 70.00 | Website | 403.20 | Monmouthshire Building Society Savings Account | 29,864.56 | ||||
| Concert Travel | 490.00 | ||||||||
| Tour | 10,675.00 | Music Stock (CD's) | 105.00 | ||||||
| Insurance | 198.86 | ||||||||
| Choir Dress | 7,780.00 | ||||||||
| Presentatons | 92.64 | ||||||||
| Annual Dinner | 3,857.70 | ||||||||
| Refreshments | 470.00 | ||||||||
| Misc | 1,252.15 | Total Net Assets: | 45,460.88 | ||||||
| Postage & Statonary | 140.57 | ||||||||
| Sub Total | ~~30,555.44~~ | ~~32,322.27~~ | I certfy that I have examined all the fnancial transactons of Pontnewydd Male Choir, and am satsfed that the atached Income & Expenditure Account for the period 1st January 2024 to 31st December 2024 and the accompanying Balance sheet as at 31st December 2024 are correct and refect a true and fair view. |
||||||
| Accountng Adjustments for invoices paid in 2023 relatng to 2024 |
236.18 | ||||||||
| Signed: | A Morland | ||||||||
| Accountng Adjustments for invoices paid in 2024 relatng to 2025 |
198.86 - |
||||||||
| Miss Alexandra J Morland | |||||||||
| Net Expenditure above income | 1804.15 | BA (Hons.) ACMA, CGMA | |||||||
| 32,359.59 | 32,359.59 | ||||||||
– b) Main Operating Funds NatWest Community Account
i. Income
The majority of income comes from members’ subs. Total raised was £9200; down £250 on 2003 despite the increase in subs to £19 as agreed at last year’s AGM and hence the continuation of the recruitment drive. Membership currently stands at 40 active members.
Many thanks to Phil Pritchard as Financial Sec. for managing the collections each week.
Donations, grants and sponsorships accounted for £4,213; much more than 2023 thanks to the efforts by Martin Carey, Alun Wilmot and others.
Another significant source of income continued to be the Bonus Ball draw at £1370 and that now averages £36/week (equivalent to £156/mth) thanks to Alun Wilmot for his continued effort in maintaining this valuable income.
Proceeds from performances including weddings and funerals amounted to £5,707.
Transitory income included the Anniversary Dinner and the Paignton Tour at £9,215 though these are offset by their outgoings (see below).
ii. Expenditure
Gratuities was the main outgoing at £8000.
Other operational costs i.e. practice room hire, hire of storage facilities and telephone amounted to near £4700.
Administrative costs for insurance, audit fees, website, stationary and travel charges came to £1480 with new uniforms at £1,087.
Transitory outgoings included the Anniversary Dinner and the Paignton Tour at £14,625 though these are offset by their income (see above).
iii. Conclusion
Total income amounted to £30,555. Total expenditure amounted to £32,322. Net expenditure above income £1804.
This represents good management given the exceptional 120[th] Anniversary celebrations.
- iv. Other Notes
Work is progressing with Graeme Davies into Gift Aid following Paul Wellington’s passing.
c) Investments
-
i. Monmouthshire Building Society Account With the annual interest, the balance for 2024 was £29,864.
-
ii. Other Investments Others include a best estimated value of CD and uniform stock.
2. ACCOUNTS TODAY (End Apr 2024)
– a) Main Operating Funds Community Account
-
i. NW Operating Funds Total funds stand at £9417, similar to plan.
-
ii. Budget 2025 The budget for 2025 has been agreed and authorised by the Management Committee. Essentially the expected income is £19,190 with an expected expenditure of £18,278, giving a net gain of £911.
b) Monmouthshire Building Society Account
i. Value 2025 With the addition of the annual interest, the value of funds in the Monmouthshire B.S. now stands at £30,652.
- ii. Reserve policy Reserve policy needs to be reviewed given 2 years since previous review and inflationary increases over this period.
3. Member Subs and Gratuities
- a) Given the expectations for the remainder of 2025 I see no reason to make any changes to gratuities nor to members subscriptions i.e. maintain the £19/mth payments.
Pontnewydd Male Choir
Balance Sheet as at 31st December 2024
| Current Assets: NatWest Community Account: Investments: Monmouthshire Building Society Savings Account Music Stock (CD's) Choir Dress Total Net Assets: |
£ 7,711.32 29,864.56 105.00 7,780.00 |
|---|---|
| 45,460.88 |
I certify that I have examined all the financial transactions of Pontnewydd Male Choir, and am satisfied that the attached Income & Expenditure Account for the period 1st January 2024 to 31st December 2024 and the accompanying Balance sheet as at 31st December 2024 are correct and reflect a true and fair view.
Signed: A Morland
Miss Alexandra J Morland BA (Hons.) ACMA, CGMA
Pontnewydd Male Choir
Income & Expenditure Account 2024
| Income Membership Subs Bonus Ball Donatons & Grants Misc Anniversary Dinner Concert Sponsorships Performance Proceeds Tour CD Sales Sub Total Net Expenditure above income Accountng Adjustments for invoices paid in 2023 relatng to 2024 Accountng Adjustments for invoices paid in 2024 relatng to 2025 |
£ 9,200.02 1,370.00 2,913.00 780.50 1,715.00 1,300.00 5,706.92 7,500.00 70.00 30,555.44 1804.15 32,359.59 |
Expenditure Gratuites Telephone Music Donatons Audit Fees Uniforms Room Hire Storage Website Concert Travel Tour Insurance Presentatons Annual Dinner Refreshments Misc Postage & Statonary |
£ 8,012.00 304.43 278.64 558.72 110.00 1,087.20 3,507.00 884.16 403.20 490.00 10,675.00 198.86 92.64 3,857.70 470.00 1,252.15 140.57 |
|---|---|---|---|
| 32,322.27 236.18 - 198.86 |
|||
| 32,359.59 |
Pontnewydd Male Choir
Balance Sheet as at 31st December 2024
| Current Assets: NatWest Community Account: Investments: Monmouthshire Building Society Savings Account Music Stock (CD's) Choir Dress Total Net Assets: |
£ 7,711.32 29,864.56 105.00 7,780.00 |
|---|---|
| 45,460.88 |
I certify that I have examined all the financial transactions of Pontnewydd Male Choir, and am satisfied that the attached Income & Expenditure Account for the period 1st January 2024 to 31st December 2024 and the accompanying Balance sheet as at 31st December 2024 are correct and reflect a true and fair view.
Signed: A Morland
Miss Alexandra J Morland BA (Hons.) ACMA, CGMA
Pontnewydd Male Choir
Income & Expenditure Account 2024
| Income Membership Subs Bonus Ball Donatons & Grants Misc Anniversary Dinner Concert Sponsorships Performance Proceeds Tour CD Sales Sub Total Net Expenditure above income Accountng Adjustments for invoices paid in 2023 relatng to 2024 Accountng Adjustments for invoices paid in 2024 relatng to 2025 |
£ 9,200.02 1,370.00 2,913.00 780.50 1,715.00 1,300.00 5,706.92 7,500.00 70.00 30,555.44 1804.15 32,359.59 |
Expenditure Gratuites Telephone Music Donatons Audit Fees Uniforms Room Hire Storage Website Concert Travel Tour Insurance Presentatons Annual Dinner Refreshments Misc Postage & Statonary |
£ 8,012.00 304.43 278.64 558.72 110.00 1,087.20 3,507.00 884.16 403.20 490.00 10,675.00 198.86 92.64 3,857.70 470.00 1,252.15 140.57 |
|---|---|---|---|
| 32,322.27 236.18 - 198.86 |
|||
| 32,359.59 |