1st Maghaberry Scout Group (Charity no. 103908)
Treasurer's report
The 2023/24 accounts show we were in a healthy financial position at year end, being able to carry a surplus over into the new financial year. However, it should be noted that a proportion of this surplus has been ring fenced towards the scouts summer 2024 camp to the Isle of Man and for unspent LCC Hardship grant funding.
Our Scout Group runs on one main bank account held in the name “1st Maghaberry Scouts”. All funds held in reserves are for the use of the Group or any section within the Group (Beavers, Cubs and Scouts) for future use in line with the aims and objectives and activities of the Scout Group. The agreed portion held for such use will be subject to the agreement of the Trustees. Subscriptions fees received are acknowledged for the use of that member section.
During the 2023/24 financial year it was decided to moved away from the Danske Bank account due to the fees being charged for the account. New bank accounts with the Zen Bank and Cooperative were set up and started to be used along with the OSM expense cards for the section leaders to avoid them having to use their own money and then reimbursement. The Zen bank account was subsequently closed in January 2024. Most parents are now paying via Online Scout Manager.
What to expect in the next financial year 2024/2025 it is intended to close the Danske Bank account leaving all bank transactions with the Cooperative bank account. It is expected that grant funding is likely to continue to be reduced however it is also planned to explorer Gift Aid returns from subscription fees paid which will help to maintain the groups accounts in a healthy position.
Thank you to Sue who stood as Treasurer for many years until summer 2023 following which I (Jonathan Elliott) accepted to take on the role from September 2023.
Financial statement is attached for 1st April 2023 – 31st March 2024.
Opening Balance of £6,526.54
Income including registration, grants, camp fees, donations & fundraising of £16,348.09 Of this, £2,000 is LCC Hardship Funding Grant which was unspent by the end of the financial year.
Expenditure in year of £11,957.16 giving us a closing balance of £10,917.47 Of this, £2,300 is restricted to the scout section for the 2024 summer camp to the Isle of Man.
All payments are up to date with no debts or funds in deficit.
1st Maghaberry Scout Group 13 Spring Meadow, Ballinderry Upper, BT28 2RN russell@mcquillanlodge.com
+353860491066