| Income | | | Expenditure | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 2010 | General Fund | 2011 | Notes | | | 2010 | General Fund | 2011 | Notes | |
| £2525.81 | Opening balance | £925.93 | 1 | | | |||||
| £507.50 | Subscriptions | £531.50 | | | £355.17 | Newsletters | £711.13 | 3 | ||
| £1.20 | Interest | £0.79 | | | £174.14 | Insurance | £364.47 | 4 | ||
| £25.00 | Advertising sales | £25.00 | | | £85.00 | Expenses | £32.08 | |||
| £118.00 | Garments | £335.00 | | | £91.59 | Garments | £302.97 | |||
| £17.00 | Annual Dinner | £800.00 | | | 0.00 | Annual Dinner | £870.00 | |||
| £80.50 | G&B Donation | £23.50 | | | £57.83 | Coventry Silvercraft | 0.00 | |||
| 0.00 | Intershires Striking Comp tea | £34.40 | | | ||||||
| 0.00 | Miscellaneous | £71.63 | 2 | | | £60.00 | CCCBR subscription | £40.00 | ||
| 0.00 | Donations | £100.00 | | | ||||||
| £748.70 | Total receipts | £1921.82 | | | £823.73 | Total expenditure | £2320.65 | |||
| | | £2651.18 | Closing balance | £527.10 | ||||||
| | | |||||||||
| Restricted Funds - Bell Fund | | | ||||||||
| Opening balance | £1725.25 | | | |||||||
| | | |||||||||
| £300.00 | Mid-week tours | £100.00 | | | Temple Guiting grant | £500.00 | ||||
| Donations | £7.00 | | | |||||||
| Dinner raffle | £63.00 | | | |||||||
| | | |||||||||
| £300.00 | Total receipts | £170.00 | | | Total expenditure | £500.00 | ||||
| | | £1725.25 | Closing balance | £1395.25 | ||||||
| | | |||||||||
| Assets | 5 | | | |||||||
| £2638.37 | Bank | £1922.35 | | | ||||||
| £12.81 | Cash | £0.00 | | | ||||||
| £22.50 | Badges | £22.50 | | | ||||||
| £0.00 | Garments | £0.00 | | | ||||||
| Printers (2 year write-off) | £82.37 | | | |||||||
| Paper and inks | £116.53 | | | |||||||
1 Opening balances: the closing balance for 2010 has been apportioned between the General Fund and the Bell Fund for the 2011 opening balances;
2 Miscellaneous: these are bank deposits that cannot be attributed elsewhere and includes cash in hand (£12.81 of which was from 2010);
3 Newsletters: this includes £163.91 that was incurred in 2010. It is planned that the two printers purchased by the Guild will be written-off over 2 years, which equates to a cost of £91.25 per annum. At the end of 2011 the value of unused inks and paper (carried into 2012) was £116.53.
4 Insurance: this includes the insurance premiums for both 2011 (£179.03) and 2012 (£185.44).
5 Other assets of the Guild include: Other assets of the Guild include: Newing Shield, President's Chain, Brazier Trophy, Spencer Jones Cup, Mini-Mouse Award, Merit Award, Inter-Shires Trophy, peal books and documents. The Shield, Cup, Trophy and President's Chain have been valued professionally and are currently insured by the Guild for £4051.
I took over the role of Treasurer at the October AGM, went to Australia for 5 weeks and only managed to do any treasuring for about 1 month of the 2011 year. Also, due to the incompetence of the FSG bank, I was not allowed to have bank statements or sign cheques until February 2012. Thanks to the information provided by the previous treasurer and also the secretary, I managed to get a grip on the money and have produced these accounts
At the end of 2011 there were no outstanding invoices so the expenditure incurred in that year is complete. I hope most of the figures are self explanatory, but there are a few notes that require explanation.
The first thing I have done is split the funds into the General Fund and the Bell Fund, and ensured that each is held in its own account. This way I know at all times what unrestricted funds are available. The only downside of this is that we are not moving spare funds into the interest earning account (where the Bell Fund is held), but this is costing us less that 50p interest a year. There were some deposits into the account for which I have no deposit slips or any paperwork, and these therefore have been noted as Miscellaneous.
The insurance is due in December each year, but in the last couple of years has not been paid until January; I have paid it when due to try and get it in the correct accounting year, which results in there being 2 payments in 2011, but hopefully only one each year in future.
The Newsletter costs include two printers that will be written off over 2 years, and after each printing of the Newsletter there are inks and paper remaining for the next print run. In 2011 there was more apparently spent on the Newsletters than the true cost due to some 2010 bills not being paid until 2011 and there being inks and paper carried into 2012. I have attempted to calculate the true cost for 2011 and estimate it at £410.38.
Michael Dane, Hon Treasurer
In connection with our examination, no matter has come to our notice to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
(Signed) Michael Fairfax, Trevor Hobday