During the year, the grants to Hartington, Youlgreave and Burbage were all paid out (see Note 2 to the accounts). Since all were granted in 2006, they appear as expenditure in that year's accounts. Nevertheless, the last two grants, together with the loan to Hartington (see Note 3) were paid early in the year and depleted our capital to the extent that the interest we received was reduced. Compared to 2006, most other income sources were about equal, or lower. (For example, Peal fees and Investment income. However, it is pleasing to see that the value of the investments, although still less than a year ago, was on the rise at the end of the year.)
Noteworthy exceptions were PCC fees and Donations and Fundraising. It is particularly pleasing that ringers, collectively and individually, are still supporting the Fund - as Note 1 shows. I was glad to receive a donation from a firm of accountants, Coleman Bradshaw, who had chosen the BRF for their annual donation to charity; also one from our bank in compensation for losing two cheques paid in by the BRF. Compared to 2006, the total income was about £700 higher, whereas the expenditure was roughly similar: this was mainly due to the total grants at £1100 being exactly the same (though, of course, to different towers). The excess of income over expenditure was about 700 higher. In the balance sheet, please note that the loan to Hartington is shown as an asset. This is because the cash has been lent, not given, and is repayable (due January 2009). It is temporarily not available, so (Note 4) shows that £24,138 is readily available cash for use by the Fund on aid to the diocese's bells.
2007 |
2006 |
|||
Income | ||||
£ |
£ |
|||
P.C.C. Affiliation fees | 1,340.00 |
1,240.00 |
||
Donations and Fund Raising - Note 1 | 600.92 |
644.08 |
||
Gift Aid Scheme | 484.12 |
356.25 |
||
Grant from General Fund | 1,000.00 |
1,000.00 |
||
Peal Fees | 202.00 |
292.00 |
||
Bank Interest | 37.11 |
46.87 |
||
Investment Income - CBF | 1,669.04 |
1,910.01 |
||
Loss in Value of Investments | -332.72 |
-1,105.04 |
||
Bank donation to offset loss of cheques | 11.00 |
~ |
||
Total receipts | 5,011.47 |
4,384.17 |
||
Expenditure | ||||
£ |
£ |
£ |
£ |
|
Grants - Note 2 | 1,100.00 |
1,100.00 |
||
To cost of writing off the badges (at cost) | 118.16 |
|||
Bell Consultants' Expenses | 150.65 |
178.53 |
||
BRF Secretary's Expenses | 54.41 |
50.65 |
||
BRF Treasurer's Expenses | 17.82 |
222.88 |
12.11 |
241.29 |
Total expenditure | 1,322.88 |
1,459.45 |
||
Excess of income over expenditure | 3,688.59 |
2,924.72 |
||
BELL REPAIR FUND BALANCE SHEET - 31ST DECEMBER 2007 | ||||
2007 |
2006 |
|||
Current assets | £ |
£ |
£ |
£ |
Stock of Badges - at cost | 0.00 |
0.00 |
||
Investments - CBF | 27,247.12 |
38,410.80 |
||
Loan to Hartington | 10,000.00 |
|||
Cash at Banks and in Hand | 2,091.73 |
4,151.57 |
||
Sundry Debtors | 596.21 |
39,935.06 |
596.21 |
43,158.58 |
Current liabilities | ||||
Unpaid Grants - Note 2 | 1,500.00 |
8,400.00 |
||
Sundry Creditors | 0.00 |
1,500.00 |
12.11 |
8,412.11 |
Net assets | 38,435.06 |
34,746.47 |
||
Represented by | £ |
£ |
||
Accumulated Fund | ||||
Brought Forward 1st January | 34,746.47 |
31,821.75 |
||
Excess of Income over Expenditure for the Year | 3,688.59 |
2,924.72 |
||
Carried Forward 31st December | 38,435.06 |
34,746.47 |
Note 3 - Status of Loans in 2007.
During the year the loan of £10,000 to Hartington was taken up. It is repayable by January 2009. The loan of £5,000 to Youlgreave was not taken up and that of £500 to Hatton was withdrawn. A loan of £3,700 was offered to Alvaston PCC. At the end of the year there were no other loans on offer or due for repayment.
Note 4 - Uncommitted Cash at the end of 2007.
After paying outstanding grants and creditors (and ignoring debtors and loan repayment) the readily available cash is £27,838.85; of this £3,700 is for the offered loan (Note 3), leaving £24,138.85 uncommitted to specific use. We have examined the above Income and Expenditure Account and Balance Sheet, which are in accordance with the books, vouchers and information made available to us.