It has been an interestingyear in relation to the accounts forthe Victoria Institute-for some time the Institute has been working towards raising the necessary funds to complete the building rewire and electrical upgrade. We are pleased to reportthatthis project is now complete and the accounts forthe period to 31 August 2024 reflect this: the operating loss forthe year is (£55,292). Lancashire Environmental Fund Brookhouse Corr7munity Church Cottam Trust Caton with Littledale PC Halton Trust Individu81 donations Donations received in prioryear Totalfunding received 40,000 5,500 10,000 1,000 5,000 5,515 5,747 72,762 Vl reserves utilised 59,994 The tot8l expenditure on the rewire project as recorded in the accounts in £132,756 (including fees)- the retention of £6952.50 (5 % of project cost) wlll be due 12 months after completion, in July 2025. We place on record the very grateful thanks of the Institute to all organisations and particularly those individuals in the Caton community land beyond) who have made a donation which has enabled the work to be completed. Roorn hire for the year was £24,395 compared to £28,372 last year- this is as a result of the building being closed for 2 works during the require. The Institute continues to benefit from the flat rental {£6,750 this yearl and are grateful for the continued contrlbution from the P8rish Council (unchanged this year8t £9,600). Expenditure remains in line with previous years. Aside from wages and salaries (for the Centre Manager and a cleaner), the biggestoutgoings are: Insurance1£4,455 currentyear, 8n increase of 3%, the increase in 2024 is 8%) Electricity and Gas - these have remained relatively stable this year- the spend wa5 £3300 in total, an increase of only £100. New contracts have been signed for 2024-2025 which will hopefully keep costs at a similar level. The costs charged to repairs and renewals primarily relate to the replacement of the ceiling tiles in the Sir Thomas Storey Room - the rewire project gave the ideal opportunity to complete this work as a number of tiles had been water damaged.
The bank balances as at the end of August 2024 total £46,076.76. We are mindful that reserves need to be built back up afterthis year's expenditure and will be lookingto restrict expenditure to urgent items only. There are no bad debts to report. We are in receipt of a donation from B4RN of £540.88 (included in othercreditors)-this has been ringfenced by B4RN to be used forthe purchase of new audio visual equipment. Room hire rates have been reviewed by the managementcommittee and some r8teswillincrea8e with effectfrom January 1 St 2025. Anne Guntrip November 5" 2024
Current Year As.AtaLQ&24 Lastyear Vlctorl Institute As a.t.3_1.Q_8.:23 Sales 4000- Sales- Flood Sacks 4010- Sales- Room Hire 4011- Refreshments 4012 - Photocopying / printing 4013-Computer hire 4900- Other income 4902- Parish Council Contrlbutlon 4903- Debt repayment 4904- Grants 4905- Donations 4940- Rental Income £30.00 £24,395.45 £133.40 £696.51 £30.00 £28,20D.70 £198.20 £730.61 £97.10 £23.94 £9.600.00 £1,175.20 £91.32 £104.54 £9,600.00 £71.40 £50,000.00 £26,101.58 £6.750.00 £5,777.50 £6,600.00 Total Sales £117,974.20 £52,433.25 Dlrecr Expenses 5000- Cosi of Sales- Goods 5060- Other Direct Expenses £125.27 £38.79 £288.43 Total Dlrect Expenses 2164.06 £288.43 GROSS PROFIT I LOSS £117,810.14 £52,144.82 Overheads 7000- Employee Wages and Salaries 7030- Employer's Penslon 7110- Water Rates 7130 - Premises Insurance 7200 - Electricity 7210- Gas 7520 - Office Supplies 7530- Telephone and broadband 7540- Website 7610- Accountancy Fees 7630- Music Licence 7800- Repairs and Renewals 7810- Cleaning (windows, rooms etcl 7820- Cleaning materials 8200- General Expenses 8500-Vl relaunch 8501-Vl Rewire £18.243.36 £430.08 £2,341.81 £4,084.05 £1,144.82 £2,155.06 £237.00 £41.93 £151.19 £16,044.27 £393.01 £2,452.53 £4,327.27 £240.00 £2,958.08 £1,369.75 £92.53 £144.00 £302,80 £454.86 £289.60 £336.13 £2,576.96 £4,954.75 £349.41 £5,998.00 £6,316.00 £639.48 £508.52 £2.369.99 £132,755.90 £1.269.07 £0.00 £437.92 Total Overheads £173,102.49 £43,307.64 NET PROFITILOSS
Ra.laD£LSth.eet 2023124 Victorla Instltute 2022123 1000- Stock- Flood sacks 1100- Trade Debtors 1120- Prepayments 1200- Vl Restricted 1210- Cash 1220- Vl General 1230- Sumup Card Payments £435.92 £3,181.00 21,038.78 237.647.03 £265.56 £10,509.43 £5.60 Total Current Assets £465.92 £790.10 £0.00 £52,631.96 £59.05 £51.223.00 £16.16 £53,083.32 £105,186.19 TOTAL ASSETS £53.083.32 £105,186.19 LIABILITIES C_urr.e.Trt Llabllltles 2100- Trade Creditors 2110- Accruals 2250- HMRC 2260- Pension 2500- Other Credltors £2,628.00 £133.05 £0.00 £69.65 £1,115.88 639.62 117.48 Total Current LSabillties £3,946,58 £757,10 TOTAL NET ASSETS £49,136.74 £104.429.09 EQUITY Net Profit l Loss (prior yearlsll Net Profit l Loss (current yearl £104,429.09 -£55,292.35 95591.91 8837.18 TOTAL EQUITY £49,136.74 £104,429.09 Check £0.00 £0.00 I have reviewed the accounts and documentation for the Victoria Institute for the period to 31st August 2024 and can confirm that they are a true and accurate record of the f inancial affairs for that period. H Moriaty Chorley Jamaury 2025