Financial Position
- At the end of the financial year we had £6,991 in our accounts compared with £7,004 at the start of the year. We made a small loss of £14 for the year. However, there are also uncashed cheques to the value of £135 outstanding.
- As a result of the Covid-19 virus all our meetings were held on Zoom so we had no income from meetings (associate membership, guest fees and refreshments).
- Whilst we paid made donations to all our speakers our expenditure was considerably reduced because we didn’t have to hire Trinity Methodist Church for meetings or to pay speakers travelling expenses.
- The approved 2021/22 accounts are shown on the next page.
Development Fund
- We didn’t spend any money from our development fund and still have approximately £1,680 in the fund.
Risks
- Our most significant risk is the impact of returning to meeting at Trinity Methodist Church for our 2022/23 programme. It is uncertain how many people will attend our meetings at the church and how many people will join as associate members.
- We are intending to Zoom the meetings live from the church we don’t know what impact that might have on the number of people who attend in person.
- Our bank, HSBC, has started making bank charges for all activity on our charity account.
Conclusion
- We have approximately £5,200 in our accounts, not including the development fund, and this is more than twice our normal annual expenditure.
- We are in a healthy financial position which should enable the branch to weather any difficulties resulting from returning to meeting at the church.
- I will investigate whether it is possible to find a bank that doesn’t impose charges on charity accounts.
- We do not need to consider any increases in our subscriptions or charges.
Andy Moir
Hon. Treasurer
August 2022
The Essex Branch of the Historical Association 