**5[th] Worcester Sea Scouts Financial Statements And Treasurer’s Report For The Year Ended 31 March 2024** **Registered Charity No. 525170** **5[th] Worcester Sea Scouts** ## **’ – Treasurer s Report Year Ended 31 March 2024** ## **Summary** The year end reserves total £18,141.40 with all this being held in bank deposits. £12,090.16 (2023; £12,851.83) of the total is in respect of restricted funds which can only be expended on specific purposes. The balance £6051.24 (2023; £1528.92) are the groups own funds. ## **Income** This year is the first year that we have seen scouting return to pre-pandemic operations, with the group organising international trips to Kandersteg and Costa Rica, along with UK based camps. As a result, the income has increased to £91,533.16 (2023; £43.855.71) Subscription income has increased with the addition of the Explorer unit £42,092 (2023 £35,769) It is a constant challenge to monitor the monthly subscription payments. In this financial year we rolled-out being able to make card payments by Stripe for both subscriptions and events as opposed to the bank transfer/standing order that we have used for many years. Whilst this has been somewhat successful, we are implementing the GoCardless system to automatically take subscription payments from March 2024. Events will also be able to be paid through this method. This will reduce the admin side for the group and give a clearer financial picture throughout the year. ## **Expenditure** We always ensure that we maximise the benefit that we achieve from our expenditure to best serve the interest of the young people. We avoid significant costs through volunteering of the Section Leaders and assistants, members of the executive committee and others. Quite simply without these contributions we would not be able to run such a large operation without a significant increase in subscription charges. The group is extremely grateful to all those who give their time, energy and skills so freely for the benefit of Scouting and our young people. The group continues to give financial assistance in the form of reduced subscription and subsidised event fees where parents are unable to meet the full costs. It is the policy of the group that no child should be prevented from participating fully in Scouting Activities on financial grounds. In this year the group spent £6488 supporting our young people. We operate a ‘cashless’ expenses system for the section leaders in the form of prepaid cards, and have in this year been transitioning from Soldo to Pleo to reduce bank fees. ## **Conclusion** This is my final year of being treasurer for the 5[th] taking it on right before the pandemic. My 3 children have all been through the various sections of the group and I will be eternally grateful to all the leaders and volunteers who have given their time for all the adventures they have been on and the life-skills they now have. ## **Suzy Mudd Treasurer** 2 **Registered Charity No. 525170** ## **Balance Sheet** ## **5th Worcester Sea Scouts** ## **As at 31 March 2024** |**Balance Sheet**
**5th Worcester Sea Scouts**
**As at 31 March 2024**|**Balance Sheet**
**5th Worcester Sea Scouts**
**As at 31 March 2024**| |---|---| |**31 MAR 2024**
**31 MAR 2023**|| |**Current Assets**|| ||**Cash at bank and in hand**| ||Lloyds Current Account
6,051.24
1,528.92| ||Lloyds Deposit Account
12,090.16
12,851.83| ||Pleo account
306.83
160.00| ||Soldo
855.70
1,016.11| ||Stripe GBP
-
49.10| ||**Total Cash at bank and in hand**
**19,303.93**
**15,605.96**| ||Accounts Receivable
27,607.10
7,415.85| |**Total Current Assets**
**46,911.03**
**23,021.81**
**Creditors: amounts falling due withinone year**|| |Accounts Payable
1,656.00
1,676.37|| |Barclays Current Account
28.74
228.74|| |Barclays Deposit Account
420.35
420.35|| |Historical Adjustment
4,778.18
4,778.18|| |Rounding
130.53
(2.00)|| |**Total Creditors: amounts falling due within one year**
**7,013.80**
**7,101.64**|| |**Net Current Assets (Liabilities)**
**39,897.23**
**15,920.17**|| |**Total Assets less Current Liabilities**
**39,897.23**
**15,920.17**|| |**Net Assets**
**39,897.23**
**15,920.17**
**Capital and Reserves**|| |Current Year Earnings
23,977.06
(25,471.92)|| |Retained Earnings
15,920.17
41,392.09|| |**Total Capital and Reserves**
**39,897.23**
**15,920.17**|| 31 Jan 2025 Page 1 of 1 Balance Sheet 5th Worcester Sea Scouts ## **Profit and Loss** ## **5th Worcester Sea Scouts For the year ended 31 March 2024** |**Profit and Loss**
**5th Worcester Sea Scouts**
**For the year ended 31 March 2024**||| |---|---|---| ||**2024**|**2023**| |**Turnover**||| |Bank Interest|38.33|28.75| |Donations Received|225.00|-| |Events Income|41,255.41|4,598.35| |Fundraising|2,305.52|1,367.50| |Grants Received|-|995.76| |Hire of Equipment|110.00|(350.39)| |Jambowlree|(66.00)|-| |Other Income|5,651.90|-| |Property Income|-|525.00| |Subscription Income|42,092.00|35,769.97| |Subscriptions Written Off|-|60.00| |Uniform Sales|11.00|5.00| |BIBLINS JUBILEE MAY 2022|(310.00)|(585.88)| |Korea|-|(3,649.60)| |KANDERSTEG|250.00|141.25| |Shirejam 2023|(30.00)|4,950.00| |**Total Turnover**|**91,533.16**|**43,855.71**| |**Cost of Sales**||| |Cubs Event Costs|1,064.00|300.53| |District Camp Costs|120.00|-| |Scouts Event Costs|838.00|-| |Survival Camp Expenses|-|(40.00)| |Capitation Fees|13,939.50|12,525.88| |**Total Cost of Sales**|**15,961.50**|**12,786.41**| |**Gross Profit**|**75,571.66**|**31,069.30**| |**Administrative Costs**||| |Administration Costs|3,949.35|5,190.21| |Equipment Purchases|1,285.23|10,212.71| |Section Expenses|8,972.92|8,699.07| |Leader Training|19.60|858.20| |Events|15,264.13|10,404.28| |Property Costs|10,628.46|17,464.67| |Other Expenses|9,546.58|3,404.35| |**Total Administrative Costs**|**49,666.27**|**56,233.49**| |**Operating Profit**|**25,905.39**|**(25,164.19)**| ## **Other Income** Profit and Loss 5th Worcs compressed 5th Worcester Sea Scouts 31 Jan 2025 Page 1 of 2 Profit and Loss ||**2024**|**2023**| |---|---|---| |Minibus|(1,928.33)|(307.73)| |**Total Other Income**|**(1,928.33)**|**(307.73)**| |**Profit on Ordinary Activities Before Taxation**|**23,977.06**|**(25,471.92)**| |**Profit after Taxation**|**23,977.06**|**(25,471.92)**| Profit and Loss 5th Worcs compressed 5th Worcester Sea Scouts 31 Jan 2025 Page 2 of 2 **5[th] Worcester Sea Scouts Financial Statements For The Year Ended 31 March 2024** ## **Statement of the Independent Reviewer** I have reviewed these financial statements and agree that they have been prepared in accordance with and accurately reflect the underlying accounting records presented to me. ## **Trustee Approval** These accounts were considered by the Trustees and approved on their behalf by the Chairman, Mr Andrew Forrest. **Andrew Forrest 2[nd] November 2024** 5 **Registered Charity No. 525170** **5[th] Worcester Sea Scouts Notes To The Financial Statements For The Year Ended 31 March 2024** ## 1. Basis of Preparation These accounts are prepared, as is required for a charity of our size, on a cash receipts and payments basis. Income is normally received in advance of expenditure and where this crosses a year-end date this causes surpluses and deficits to arise. This is particularly relevant to income and expenditure for events. ## 2. Subscriptions Monthly subscriptions charges remain at £18 per month across the sections. ## 3. Grants Received **----- Start of picture text -----**
2023/24 2022/23
Worcs District 354.61
Scout District Council 305.15
TSA Charity 336
Total 995.76
**----- End of picture text -----**
## 4. Events Income & Expenditure **----- Start of picture text -----**
2023/24 2022/23
Camps Income Expenditure Income Expenditure
Shirejam -30 4950
Kandersteg 250 141.25
Other Events (Aggregate) 41255.41 4598.35
Expenditure (Aggregate) 15264.13 10,404.28
Total 41475.41 15264.13 9689.6 10,404.28
**----- End of picture text -----**
**Registered Charity No. 525170** 5. Scout Membership Fees These are the fees levied by the District and County Scout Associations and include membership fees paid to the Scout Association nationally which also includes the Group’s public liability insurance costs ## 6. Premises Costs **----- Start of picture text -----**
2023/24 2022/23
Building & Site Improvements 3520
Building & Grounds Maintenance 5103.44 7102.04
Utilities 5908.07 6842.63
Insurance 3355.2 3984.25
Total 14366.71 21448.92
**----- End of picture text -----**
## 7. Equipment Purchases **----- Start of picture text -----**
2023/24 2022/23
Oven 799.98
Boats
Other small items 1285.23 3031.31
Minibus 1928.33 1616.5
Total 3213.56 5447.79
**----- End of picture text -----**
Other Expenses These are the costs of financial assistance given by the group in the year in the form of reduced subscriptions and subsidised events fees where parents are unable to meet the full cost. It is the policy of the group that no child should be prevented from participating fully in Scouting Activities on financial grounds. 7 **Registered Charity No. 525170**