Post by Admin on Apr 24, 2021 9:44:44 GMT
North Birmingham Cycling UK
This has been an unprecedented accounting period as a result of Covid 19. Cycling UK decided to move the end of the financial year to 31st March because of Covid but also to bring it in line with many other organisations. The pandemic has severely disrupted our rides programme but also our centenary plans, although some funds have already been committed to this.
Income
1. We continue to be very grateful to Roy Bishop for organising the annual Audax event from Shenstone, which continues to be our main fundraiser. The accounts include the net income from the 2019 event. This is lower than in previous years due to reduced rider numbers. I am very grateful to Roy for providing summarised accounts for each event which saves me a lot of effort.
2. We managed to claim £200 from Cycling UK by supplying our audited accounts on time and providing updated information on numbers attending our range of rides.
Expenditure
Our main items of expenditure were as follows:
1. Coopers Room hire. A total of £336 was spent over this period on room bookings.
2. Christmas/New Year meal subsidies were paid totalling £235.
3. Internet/email maintenance – a total of £301.96
4. Deposit for centenary meal - £250
5. Purchase of centenary badges - £171.36
Summary
Overall we made a loss of £793.99 over the period. Much of this, however, was due to expenditure on our centenary events.
Future
Looking forward, we are likely to see a deteriorating financial position. We have lost income from the jumble sale and are very dependent on income from our Audax event. If this does not happen in 2021 then we will not have sufficient income to cover our costs. This means that we will have to look seriously at cutting our running costs with meal subsidies and room hire being the most obvious areas for savings.
Finally I would like to propose that these accounts are approved and that Mr Mike Eades is appointed as local auditor before they are submitted to Cycling UK.
Paul Griffiths, Hon Treasurer. 27th April 2021.
Financial Report October 2019 – March 2021
This has been an unprecedented accounting period as a result of Covid 19. Cycling UK decided to move the end of the financial year to 31st March because of Covid but also to bring it in line with many other organisations. The pandemic has severely disrupted our rides programme but also our centenary plans, although some funds have already been committed to this.
Income
1. We continue to be very grateful to Roy Bishop for organising the annual Audax event from Shenstone, which continues to be our main fundraiser. The accounts include the net income from the 2019 event. This is lower than in previous years due to reduced rider numbers. I am very grateful to Roy for providing summarised accounts for each event which saves me a lot of effort.
2. We managed to claim £200 from Cycling UK by supplying our audited accounts on time and providing updated information on numbers attending our range of rides.
Expenditure
Our main items of expenditure were as follows:
1. Coopers Room hire. A total of £336 was spent over this period on room bookings.
2. Christmas/New Year meal subsidies were paid totalling £235.
3. Internet/email maintenance – a total of £301.96
4. Deposit for centenary meal - £250
5. Purchase of centenary badges - £171.36
Summary
Overall we made a loss of £793.99 over the period. Much of this, however, was due to expenditure on our centenary events.
Future
Looking forward, we are likely to see a deteriorating financial position. We have lost income from the jumble sale and are very dependent on income from our Audax event. If this does not happen in 2021 then we will not have sufficient income to cover our costs. This means that we will have to look seriously at cutting our running costs with meal subsidies and room hire being the most obvious areas for savings.
Finally I would like to propose that these accounts are approved and that Mr Mike Eades is appointed as local auditor before they are submitted to Cycling UK.
Paul Griffiths, Hon Treasurer. 27th April 2021.