FINANCIAL REVIEW FOR THE YEAR 2nd January 2024 - 1st January 2025
| Expenditure (£) | 2nd January 2024 - 1st January 2025 |
|---|---|
| Rent | £9600.00 |
| Building Management Fees | £4200.00 |
| Electricity: Light and Heat | £395.78 |
| Fire Safety Maintenance | £100.80 |
| Sundries Expenditure (Viking UK) | £36.54 |
| Total Expenditure (£) | £14333.12 |
| Income (£) | 2nd January 2024 - 1st January 2025 |
| Member contributions to Electricity | £417.00 |
| Member Rent Contributions | £14385.00 |
| Bank inconvenience refund | £25.00 |
| Total Income (£) | £14827.00 |
| Balance 02/01/2024 (£) | £3,871.06 |
| Total Expenditure (£) | £14333.12 |
| Total Income (£) | £14827.00 |
| Total cash flow (£) | £493.88 |
| Balance 1/1/2025 (£) | £4,552.91 |
There have been no salary payments. The management and administration duties of Orchid Studios are undertaken by members of the association on a voluntary basis – this is in line with the ethos of the association. There were no payments made to Trustees during the reporting period 2nd Jan 2023–1st Jan 2024.
Funds in Deficit, Funds Materially in Deficit
As of 1st January 2025 the association had no funds materially in deficit.
Reserves Policy
The Reserves Policy of Orchid Studios is to maintain sufficient and appropriate reserves to enable continuing operations in the event of any potential risks that may arise.
ORCHID STUDIOS ACCOUNTS ANNUAL RUNNING COSTS
| ANNUAL RENT | £9,600 |
|---|---|
| HARBOUR COMMISSION | |
| PAID QUARTERLY (£2400) | |
| MANAGEMENT CO. | £4,200 |
| CBRE | |
| PAID QUARTERLY (£1050) | |
| TOTAL RENT + MANAGEMENT CO | £13,800 |
| MEMBERS ANNUAL RENT PAYMENTS | £14,385 |
| OTHER ANNUAL PAYMENTS | |
| ELECTRICTY |
FIREHOW