1st Carleton Scout Group
Treasurers Report
For the period 1st April 2020 to the 31st March 2021
Prepared by Mark Mason, Group Treasurer
Finance Review:
Over the page is the Statement of Accounts for 1st Carleton Scout Group’s financial situation for the 2020/2021 financial year, together with a comparison against the last two financial years.
The Group recorded a bank operating surplus of £17,677.06 for the full financial year. This is an amazingly positive result for the group, in what was an unprecedented year for everyone.
Due to the pandemic, 1[st] Carleton was impacted like all other youth groups, with our normal activities significantly curtailed at times and a need to move to virtual meetings. We were very fortunate that we are classed as a small business within Wyre Council as we own our own property, and this allowed the group to qualify for Covid related grants from Wyre Council, which offset the loss of income from reduced subscriptions, hall rentals and bookings. This additional income resulted in the positive end-of-year position, which has secured the short/medium term financial future of 1[st] Carleton as we look towards future hall building refurbishment projects.
The Group would like to thank all children, parents, guardians, grand-parents, family members, regular Hall users (BAFDA, Pathfinder Explorers & Wyre District Scouts) and the wider community who continued to contribute to and support 1st Carleton, throughout this very challenging year.
Gift Aid:
1st Carleton Scout Group is registered with HMRC for the purpose of collecting Gift Aid on member subscriptions, and this is an important addition to our yearly Income, with £1,044.49 being raised in this current financial year for group funds. This is an annual claim against subscriptions which we can submit. Gift Aid mandate forms are available from the section leaders in Beavers/Cubs/Scouts, for those who are eligible to complete one.
The Gift Aid scheme is for gifts of money by individuals who pay UK tax. Gift Aid donations are regarded as having basic rate tax deducted by the donor. Charities (like 1st Carleton) can take your donation - which is money you've already paid tax on - and reclaim the basic rate tax from HM Revenue & Customs (HMRC) on its 'gross' equivalent - the amount before basic rate tax was deducted. Basic rate tax is 20 per cent, so this means that if you give £10 using Gift Aid, it’s worth £12.50 to 1st Carleton. All monthly subscriptions to 1st Carleton qualify as donations on which Gift Aid can be claimed, provided we have a signed mandate from the relevant tax payer who is providing the monthly subscription payment.
Reserves & Investment policy:
The Group currently has no official policy on reserve funds, however we are currently operating with a net ‘General Fund’ balance normally in excess of £10,000, which is sufficient to ensure the continuation of our Charitable activities for at least six months should there be a significant shortfall in income or fundraising. The Group does not have sufficient funds to invest in longer term investments. The Group has therefore adopted a risk averse strategy to the investment of its funds. All funds are held in cash using only mainstream banks.
Date Prepared: 02/09/2021 By: M S Mason, Group Treasurer
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1st Carleton Scout Group
Statement of Accounts: 2020-2021
| Category Descripton This Year Previous Year Previous Year |
Category Descripton This Year Previous Year Previous Year |
Category Descripton This Year Previous Year Previous Year |
Category Descripton This Year Previous Year Previous Year |
|---|---|---|---|
| 2020-2021 2019-2020 2018-2019 |
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| INCOME | |||
| Camp & Actvity Income £967.62 £3,957.25 £1,640.00 |
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| Fundraising £232.00 £0.00 £77.10 |
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| Gif Received £0.00 £0.00 £55.00 |
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| Grants £19,669.21 £0.00 £0.00 |
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| Hall Rent £2,840.00 £5,340.00 £5,360.00 |
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| HMRC Gif Aid £1,044.49 £1,261.28 £3,221.57 |
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| Interest Inc £4.62 £13.67 £10.84 |
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| Refunds received £50.00 £23.10 £111.22 |
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| Subscriptons & investtures £4,490.00 £5,910.00 £6,300.00 |
|||
| TOTAL INCOME | £29,297.94 | £16,505.30 | £16,775.73 |
| EXPENSES | |||
| Badges £125.15 £264.72 £756.15 |
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| Bank Charge £69.00 £74.95 £0.00 |
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| Building Maintenance £586.76 £177.00 £14,061.42 |
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| Camp Expenditure £974.00 £3,482.65 £1,180.69 |
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| Capitaton £2,406.00 £0.00 £2,558.00 |
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| Charity £21.00 £21.00 £21.00 |
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| Cleaner £605.00 £1,575.00 £1,455.00 |
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| Cleaning Materials £0.00 £119.42 £185.42 |
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| Equipment £0.00 £517.50 £244.90 |
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| Gifs £0.00 £0.00 £42.00 |
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| Grounds Maintenance £540.00 £540.00 £804.13 |
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| Insurance £2,082.09 £997.56 £961.95 |
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| Postage/Statonary £16.92 £16.78 £74.23 |
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| Rates/Council Tax £0.00 £211.68 £228.06 |
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| Scout Group Actvites £308.17 £786.03 £1,378.68 |
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Training £0.00 £111.00 £85.00 |
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| Uniform £0.00 £0.00 £28.99 |
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| Utlites £3,886.79 £4,180.81 £3,871.96 |
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| TOTAL EXPENSES | £11,620.88 | £13,076.10 | £27,937.58 |
| Surplus/Defcit in Year | £17,677.06 | £3,429.20 | -£11,161.85 |
| Reconcilliaton | |||
| Surplus/defcit from bank accounts £17,677.06 £3,429.20 -£11,141.57 |
|||
| Final Surplus/Defcit in Year | £17,677.06 | £3,429.20 | -£11,141.57 |
| Adjustments £0.00 £0.00 £20.28 |
Date Prepared: 02/09/2021 By: M S Mason, Group Treasurer
Page 2 of 3
Scouts 1st Carleton Scout Group Reconciliation of Bank Accounts for I" Carleton Scout Grou 2020-2021 Bank Account5: Closin Balance enin Balance Movement 315t March 2021 31# March 2020 Business Current A/C £ 119.86 £23.83 £ 96.03 Bank High Interest A/C £ 25.854.31 £8,349.69 £ 17,504.62 No2 Camp Alc £ 1.982.96 £2L116.96 134.00 International Savings A/C £ 983.59 £ 983.59 CashPlus Card Alc £438.90 £ 228.49 £ 210,41 Bank Account Totals £29.379.62 £IL702.S6 £ 17,611.06 Total Suyplus as at 3110312021 £ 17,677.06 Date Prepared.. 0210912021 By.. M S Mason, Group Treasurer Page3of3
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