2010 has been a good year for the Bell Repair Fund, income rising to almost £5500 which is in line with 2007 and 2008 figures. This was helped by the Association hosting the Central Council annual meeting which generated over £300 of additional income from event donations and book sales.

Expenditure this year has been quite low, only two grants and no loans being paid, but a significant amount, nearly £16000, has been offered for Sandiacre and Derby St Luke and £7500 is still on offer to Shirland. This means that 44% of our fund assets are currently assigned to bell restoration projects. With the likelihood of major work at Alfreton in the future it is important that we maintain or increase the current income levels to the fund.

I have made some changes to the layout of the accounts in this year's report, mainly to split the fund into two parts - a restricted part which holds "ring fenced" money offered as grants or loans, and an unrestricted part which is money available to offer. The two funds are not physically separate but are treated individually in the income and expenditure account and on the balance sheet.

In my first year as treasurer I can report that the fund remains healthy and active - supporting PCCs in keeping Derbyshire's bells in good order.

John Thorpe