The cash balance across all accounts at the end of February 2024 was just over £128,000. This is an increase from around £95,000 at the end of the previous year. The increase is primarily owing to the fundraising for the New Hut Fund. At the end of February 2024, the New Hut Fund stood at nearly £91,000. This was just under £60,000 at the same time last year. All sections have a healthy balance.
This year the accounts show a profit of around £33,000. This was largely driven by bike sales of over £4,000, quiz nights at around £6,000, other donations totalling around £15,000 and gift aid of around £2,000.
We continue to be prudent with funds as we have always been, ensuring that events like camps and activity costs are matched with income from attendees, whilst keeping the mini-bus running efficiently and making sure we have good deals on insurance, utilities and other costs. We also maintain a £12,000 “emergency” fund, such figures are included in the above totals, which means we could run the Group expenses for a year without any income.
Emma Read
Treasurer
August 2024