Narrative for Financial Review section of Trustees’ Annual Report 2025
This year’s Finance Report is starting to return to normal patterns after last year’s finances were dramatically affected by the receipt of a substantial grant from the Community Lottery Fund NI and the subsequent associated expenditure. However, the remaining grant funds have now been spent and this continues to distort the picture this year to some extent. Receipts for the year totalled £1,962, largely as a result of Tesco Springhill’s Charity Bookstall which raised a fantastic £1500. The remaining income(£462) represented other donations, collections and bank interest received.
Payments for the year totalled £2,035 with a sizeable portion(£800) representing the remaining Lottery Fund expenditure. That leaves operational spend at £1,235 covering new postal wallets (£551), replacement discs(£289), publicity flyers(£149), insurance fees(£155) with the balance representing membership fees and sundry supplies. With additional income available from Tesco’s, we took the opportunity to purchase new postal wallets.
The net result for the year was that we operated close to break-even with a small deficit of £73. This gave us a small reduction in our bank cash balance from £3,039 to £2,966 as at 1° April 2025.
In conclusion, the organisation’s finances remain in a strong position with a cash balance of £2,966. The current levels of cash held would be sufficient to meet over 3 years operating costs. This is comfortably within our target of ensuring that, at the very least, an amount equivalent to one-year’s operating costs (£900) is held in reserve at each year-end.