124th Nottingham Scout Group
The following financial review is an extract from the FULL Trustee's Annual Report
124th Nottingham Scout Group Trustees' Annual Report for the Year Ending 31 March 2022
Financial Review
The Groups received a total income of £22916. Due to COVID restrictions, we were still unable to run a full fundraising program. However, this was mitigated by government grant income of £2667 and £18789 were released from the grant income from 2021.
Over the next 2-5 years we have identified a number of costs around securing the future lease and for capital improvements to the building. The Executive Group's view is this is suitable long term investment for the 124th future and we have made the decision to carry forward £35000to cover these costs.
The Group's policy on reserves is to hold sufficient funds to continue the charitable activities of the group should income and fund raising activities fall short. We think this is especially important around the uncertainty on current energy prices and other costs.
The Group held reserves of £31702 at the end of the financial year, and the Group also has a separate reserve of £15,000 designated for the purpose of obtaining a new minibus once it is deemed necessary to do so.
There is also a designated reserve, generously bequeathed by a local resident a number of years ago. The balance on the reserve, being £500, is to be used towards the costs of sending scouts on jamborees and similar events, or to be used on expenditure of a permanent nature.
It is the Group's aim to keep subscriptions at the current level to help support our families and deliver value. Our subs are in the lower range of local scout groups, and we will aim to keep this level until our next review in March 2023. Finally it is Group policy that any identified surplus is used to subsidise core scouting activities, such as camps.
The Group adopts a low risk strategy to the investment of its funds and hence all funds are held in cash using only mainstream banks or building societies or The Scout Association's Short Term Investment Service.
The Trustees declare that they have approved the trustees' report above.
Signed on behalf of the charity's trustees: Nick Kay
Secretary
Date:
Group Accounts 2021/2022
124[th] Nottingham Scout Group
INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDING 31[ST] MARCH 2022
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Description Note General Funds Designated Total Total
2021/2022 2021/2022 2021/2022 2020/2021
General Income:
Subscriptions Received £14,502.65 £0.00 £14,502.65 £11,506.00
Gift Aid Received 1 £2,458.00 £0.00 £2,458.00 £2,250.00
Miscellaneous Income £58.55 £0.00 £58.55 £16.43
Government Grant 1 £21,456.00 £0.00 £21,456.00 £0.00
Income from Camps £320.00 £0.00 £320.00 £1,223.40
Donations Received £638.60 £0.00 £638.60 £25.00
Bank & Investments Interest £1.38 £0.00 £1.38 £158.51
Income from Ebay £0.00 £0.00 £0.00 £780.49
Income from Events:
Activity income £286.33 £0.00 £286.33 £0.00
Jumble Sales £0.00 £0.00 £0.00 £0.00
Xmas Market £1,713.00 £0.00 £1,713.00 £1,745.00
Carols Round the Pump £270.80 £0.00 £270.80 £0.00
Coffee Morning/ Firework £0.00 £0.00 £0.00 £0.00
TOTAL INCOME £41,705.31 £0.00 £41,705.31 £17,704.83
Direct Charitable Activities
Unit Activities £2,887.48 £0.00 £2,887.48 £1,045.72
Cost of Badges £1,305.54 £0.00 £1,305.54 £174.54
Camp Expenditure £3,720.09 £0.00 £3,720.09 £1,142.40
Vehicle Running Expenses 2 £2,051.43 £0.00 £2,051.43 £2,080.07
£9,964.54 £0.00 £9,964.54 £4,442.73
Overhead Expenditure
Advertising £0.00 £0.00 £0.00 £76.36
Building Insurance £2,006.76 £0.00 £2,006.76 £1,945.87
Rent & Rates £592.71 £0.00 £592.71 £513.37
Buildings Maintenance £943.51 £0.00 £943.51 (£65.75)
Equipment Purchases £81.00 £0.00 £81.00 £0.00
Capitation Fees £3,932.40 £0.00 £3,932.40 £5,525.00
Miscellaneous Expenses £1,964.73 £0.00 £1,964.73 £448.81
Stationery & Postage £36.55 £0.00 £36.55 £0.00
Utilities (Gas, Electric, Tel.) £2,570.22 £0.00 £2,570.22 £2,073.36
£12,127.88 £0.00 £12,127.88 £10,517.02
TOTAL EXPENDITURE £22,092.42 £0.00 £22,092.42 £14,959.75
NET INCOME £19,612.89 £0.00 £19,612.89 £2,745.08
Less ; Transfer to Designated Funds (£17,500.00) £17,500.00 £0.00 £0.00
NET MOVEMENT IN FUNDS £2,112.89 £17,500.00 £19,612.89 £2,745.08
BALANCES B/F 1 APR 2021 £31,702.77 £15,500.00 £47,202.77 £44,457.69
BALANCES C/F 31 MARCH 2022 8 £33,815.66 £33,000.00 £66,815.66 £47,202.77
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PAGE 1
124th Nottingham Scout Group is registered as a charity in England Wales with Registration Number : 522458
Group Accounts 2021/2022
BALANCE SHEET FOR THE YEAR ENDING 31[ST] MARCH 2022
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2021/2022
Description General Designated Total Total
Fixed Assets
Tangible Assets – Vehicle £0.00 £0.00 £0.00 £0.00
Current Assets
Debtors 3 £0.00 £0.00 £0.00 £0.00
Stock – Badges 4 £260.53 £0.00 £260.53 £232.75
Prepayments 5 £3,772.17 £0.00 £3,772.17 £3,804.00
Scout Association Short Term Investment £10,889.74 £10,000.00 £20,889.74 £20,765.66
Bank Current Account £16,440.89 £15,500.00 £31,940.89 £31,748.70
Bank Reserve Account £6,350.42 £7,500.00 £13,850.42 £13,794.04
Cash in Hand £1,026.98 £0.00 £1,026.98 £1,280.09
£38,740.73 £33,000.00 £71,740.73 £71,625.24
Less Current Liabilities
Accruals & Provisions 6 £2,759.00 £0.00 £2,759.00 £3,467.40
Income in Advance 7 £6,214.07 £0.00 £6,214.07 £20,955.07
£8,973.07 £0.00 £8,973.07 £24,422.47
NET ASSETS £29,767.66 £33,000.00 £62,767.66 £47,202.77
Represented By Funds
Unrestricted (General Funds) 8.1 £29,767.66 £0.00 £29,767.66 £31,702.77
Designated Funds 8.2 £0.00 £33,000.00 £33,000.00 £15,500.00
£29,767.66 £33,000.00 £62,767.66 £47,202.77
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The above accounts were approved by the Trustees on xxxxxxxxxxxx and were signed on their behalf by:
Dr Huw Edward Williams
______ Chairman Kamann Eong
_____ Treasurer
PAGE 2
124th Nottingham Scout Group is registered as a charity in England Wales with Registration Number : 522458
Group Accounts 2021/2022
NOTES TO THE ANNUAL ACCOUNTS
1[Accounting Policies]
Basis of Accounting
These financial statements have been prepared under the historical cost convention in accordance with applicable (i) accounting
standards and the Statement of Recommended Practice “Accounting by Charities”.
Income from Gift Aid is accountable when the relevant claim is submitted to HMRC.
(ii)
Provision for Depreciation of Fixed Assets held for use by the Group is made at annual rates calculated to (iii) spread the cost of each asset
evenly over its expected useful life. The depreciation rates currently in use are at the following rates on cost:
Motor Vehicles 25% Equipment 25%
(iv) Stocks of badges and uniform accessories have been valued at the lower of cost and net realisable value.
2[Vehicle Running Expenses]
We continued to run the minibus during the year, with costs as below. The minibus has been fully depreciated. Provision has been
made over the last few years for the replacement of the vehicle, see note 8. It is now agreed that no further provision need be made.
A breakdown of vehicle costs is as follows:
| Vehicle Tax Vehicle Insurance Vehicle Expenses SUB TOTAL Depreciation TOTAL COST |
2022 2021 £ 165.00 £ 165.00 - £ £ 1,044.66 - £ £ 1,699.05 £165.00 £2,908.71 £0.00 £0.00 £165.00 £2,908.71 |
|---|---|
3 Debtors
The following payments were owing to the Group as at 31 March 2022:
| HMRC Gift Aid Application TOTAL |
2022 2021 £0.00 £0.00 £0.00 £0.00 |
|---|---|
PAGE 3
124th Nottingham Scout Group is registered as a charity in England Wales with Registration Number : 522458
Group Accounts 2021/2022
4 Stock
Stock at the end of the year, and the movment therein during the year, related to both Badges and Merchandise (Polo Shirts) as follows:
| Opening Stock (Badges) Purchases (Badges) Less Closing Stock (Badges) |
2022 2021 £232.75 £279.17 £1,333.32 £128.12 (£260.53) (£232.75) £1,305.54 £174.54 |
|---|---|
5 Prepayments
Prepayments made prior to the end of the financial year relating to activities in the following financial year were represented by:
| Capitation fees paid in advance | Capitation fees paid in advance | Capitation fees paid in advance | Capitation fees paid in advance | 2022 2021 £0.00 £5,525.00 |
|
|---|---|---|---|---|---|
| Interest | receivable | on | Scout | Association | |
| account | £0.00 £150.00 |
||||
| TOTAL | £0.00 £5,675.00 |
6 Accruals & Provisions
The following accruals & provisions were noted in the account relating to:
| Minibus repair work provision Kandersteg camp income Duplicated government grant Trade waste TOTAL |
2022 2021 £0.00 £600.00 £1,425.00 £1,425.00 £1,334.00 £1,334.00 £0.00 £108.40 £2,759.00 £3,467.40 |
|---|---|
7 Income in Advance
Income was taken in advance prior to the end of the financial year and is represented by:
| Government Grants Less ; released in year Kandersteg camp TOTAL |
2022 2021 £20,955.07 £20,955.07 (17,500.00) 0.00 £3,455.07 £20,955.07 £0.00 £0.00 £3,455.07 £20,955.07 |
|---|---|
The Grant received during the year and that brought forward, has been released in line with the timing of the relevant expenditure to which it relates.
PAGE 4
124th Nottingham Scout Group is registered as a charity in England Wales with Registration Number : 522458
Group Accounts 2021/2022
8 Funds
8 The General Fund is unrestricted , and can be spent on the general activities of the Group
8
expenditure, or for a future purpose.
The analysis of Designated Funds are as follows :
| Opening Balance as at 1 April 2021 Transfers in the year Balance c/fwd at 31 March 2022 |
[Wollaton] Fund Vehicle Replacement Fund Building Fund New Lease Fund £500.00 £15,000.00 - - - £2,500.00 £5,000.00 £10,000.00 £500.00 £17,500.00 £5,000.00 £10,000.00 |
Total £15,500.00 £17,500.00 £33,000.00 |
|---|---|---|
The [Wollaton} fund was received in August 2000 as a bequest from a former local Wollaton resident. The capital is to be invested and only the income from the capital will be used as contributions to send scouts to International Jamborees or local camps.
Capital can only be otherwise spent on items of a permanent nature.
may have to spend.
The Building Fund is to carry out major works on the Scout Hut.
The New Lease Fund is to cover the likely expenditure relating to a new lease . No indication has yet been received commence to put funds aside for this purpose, and to cover the associated legal costs.
124th Nottingham Scout Group is registered as a charity in England Wales with Registration Number : 522458
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