2023-06-30-accounts - Friends Of Lancashire Archives

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	Financial Statements for	Financial Statements for	the year	ended	ended	ended	30	30		June	June	2023	2023
Notes
	Basis ofAccounting
	The Trustees consider it appropriate to continue accounting on a Receipts			and Payments				basis.			No significant				stocks, debtors or creditors
	creditors existed at the year end.
	Cash Funds
	During the year, the Trustees reviewed the Friends' banking procedures and				agreed to adopt Online							Banking		with			the Cooperative
	Bank as a method ofpayment. The relevant change to Rule Sc(Rule 5 Funds				&Assets) has				been		made.
	Similarly, the Trustees agreed to adopt a Responsible Investment Policy permitting					(but		not requiring)					funds	to		be invested where
	they may more closely align tothe Association's objectives in		safeguarding	and advancing					archival heritage. The relevant									change
	to Rule 5 Funds &Assets has been made.
	Our deposit accounts continue to be managed to maximise interest income consistent with									the	Responsible			Investment				Policy while
	and while not exposing the funds to risk.
	Our bank and building society accounts are each covered	by the f85000 FSCSguarantee.
	Interest earned on all term accounts is paid on an annual	basis: the figures		shown		in these				accounts		isthe amount					actually
	received in the financial year.
	Payments toTrustees
	Formal agreements are in place where necessary for payments		to Trustees	for the		provision of					lectures and			workshops.				The Trustees
	Trustees consider these payments to be reasonable and in the best interests				ofthe Charity.					No	such	payments				were made
	during the year.
	No Trustee received payment for their services as a Trustee. Peter Newsham				as Treasurer					claimed reimbursement							ofexpenses
	for stationery, postage and plaques (benches), supported	by receipts.
	Subscriptions
	Subscription income was slightly reduced this year due to	deaths and resignations,				as reported					by the		Membership				Secretary.
	Once again, the Subscription renewals process was more complicated by the				transfer		of	banking			arrangements					from RBStothe
	Cooperative Bank, resulting in some duplicated payments.	Such duplicated		payments			were			refunded,			except	where the
	member requested they be treated as a Donation.
	Donations &Legacies
	In addition to small individual donations (including virements		from duplicated		Subscriptions) which were treated as Unrestricted
	Funds, a total ofE30100was donated in support ofClarets Collected (Burnley				F.C.)	project.				This	istreated as			a Restricted				Fund,
	and isto be banked in a separate designated account early in		the 2023-24year.
	Events &Workshops
	Following the lifting ofCovid-19 restrictions one 'live' event was offered during the					year:		as expected				this was			a	'loss leader'.
	Other Events income arose from two Cafe Archive events.
	Interest Received
	Comprises: United Trust Bank E413.01;Hampshire Trust Bank		f170.55+564.67;Ecology					Building Society E926.56;									Cambridge
	&Counties Bank E1359.56; Royal Bank ofScotland E0.07.
	Projects &Grants
	Comprises: Benches &planters f1436.70;Digitisation equipment E32125.65;				'Archive'		publication (two edition)									E4234.84;
	Collections Asst salary (to March 23)E11519.35;website deve)opment f4932.
	Printing, Postage &Stationery
	This was in line with expenditure under the same head as	last	year.
10	Insurance, Membership costs
	As in previous years, the Friends agreed to pay the annual	Zoom subscription			-E144-on			behalf			of Lancashire			Archives.
	Subscriptions: BALH f75; LLHF EB.
	Consultancy
	f400was paid to Tullock Consultancy for a 'SWOT' analysis	on	the Friends.
12	Movements on Restricted Funds
			Rlbble Valley				Clarets				Sound Archive							Total
	Balanceasat1 July2022				E500								E1,812					f2,312
	Donations received							E30,100										E30,100
	Expenditure
	Balance asat30 June 2023				6500			f30,100					61,812					632,412

	Financial Statements for	Financial Statements for	the year	ended	ended	ended	30	30		June	June	2023	2023
Notes
	Basis ofAccounting
	The Trustees consider it appropriate to continue accounting on a Receipts			and Payments				basis.			No significant				stocks, debtors or creditors
	creditors existed at the year end.
	Cash Funds
	During the year, the Trustees reviewed the Friends' banking procedures and				agreed to adopt Online							Banking		with			the Cooperative
	Bank as a method ofpayment. The relevant change to Rule Sc(Rule 5 Funds				&Assets) has				been		made.
	Similarly, the Trustees agreed to adopt a Responsible Investment Policy permitting					(but		not requiring)					funds	to		be invested where
	they may more closely align tothe Association's objectives in		safeguarding	and advancing					archival heritage. The relevant									change
	to Rule 5 Funds &Assets has been made.
	Our deposit accounts continue to be managed to maximise interest income consistent with									the	Responsible			Investment				Policy while
	and while not exposing the funds to risk.
	Our bank and building society accounts are each covered	by the f85000 FSCSguarantee.
	Interest earned on all term accounts is paid on an annual	basis: the figures		shown		in these				accounts		isthe amount					actually
	received in the financial year.
	Payments toTrustees
	Formal agreements are in place where necessary for payments		to Trustees	for the		provision of					lectures and			workshops.				The Trustees
	Trustees consider these payments to be reasonable and in the best interests				ofthe Charity.					No	such	payments				were made
	during the year.
	No Trustee received payment for their services as a Trustee. Peter Newsham				as Treasurer					claimed reimbursement							ofexpenses
	for stationery, postage and plaques (benches), supported	by receipts.
	Subscriptions
	Subscription income was slightly reduced this year due to	deaths and resignations,				as reported					by the		Membership				Secretary.
	Once again, the Subscription renewals process was more complicated by the				transfer		of	banking			arrangements					from RBStothe
	Cooperative Bank, resulting in some duplicated payments.	Such duplicated		payments			were			refunded,			except	where the
	member requested they be treated as a Donation.
	Donations &Legacies
	In addition to small individual donations (including virements		from duplicated		Subscriptions) which were treated as Unrestricted
	Funds, a total ofE30100was donated in support ofClarets Collected (Burnley				F.C.)	project.				This	istreated as			a Restricted				Fund,
	and isto be banked in a separate designated account early in		the 2023-24year.
	Events &Workshops
	Following the lifting ofCovid-19 restrictions one 'live' event was offered during the					year:		as expected				this was			a	'loss leader'.
	Other Events income arose from two Cafe Archive events.
	Interest Received
	Comprises: United Trust Bank E413.01;Hampshire Trust Bank		f170.55+564.67;Ecology					Building Society E926.56;									Cambridge
	&Counties Bank E1359.56; Royal Bank ofScotland E0.07.
	Projects &Grants
	Comprises: Benches &planters f1436.70;Digitisation equipment E32125.65;				'Archive'		publication (two edition)									E4234.84;
	Collections Asst salary (to March 23)E11519.35;website deve)opment f4932.
	Printing, Postage &Stationery
	This was in line with expenditure under the same head as	last	year.
10	Insurance, Membership costs
	As in previous years, the Friends agreed to pay the annual	Zoom subscription			-E144-on			behalf			of Lancashire			Archives.
	Subscriptions: BALH f75; LLHF EB.
	Consultancy
	f400was paid to Tullock Consultancy for a 'SWOT' analysis	on	the Friends.
12	Movements on Restricted Funds
			Rlbble Valley				Clarets				Sound Archive							Total
	Balanceasat1 July2022				E500								E1,812					f2,312
	Donations received							E30,100										E30,100
	Expenditure
	Balance asat30 June 2023				6500			f30,100					61,812					632,412