Downs Syndrome Group Northampton
Statement of Financial Position as At March 31st 2019
A Financial view of the year
The Trustees are pleased to submit their report on the Finances of the Group as at 31st March 2019.
It is with pleasure that the Trustees can report that the balance of funds at the end of the year were £40,695 compared to £61,785 for the previous year. The main reason for the reduction in retained earnings was that the Black Tie Ball originally planned for March 2019 has been moved to March 21st 2020 to coincide with World Down Syndrome Day. Also in the financial year 2017/18 two charity balls were successfully organised and therefore the Trustees decided that to have a break would make future sponsorship and support easier to gain from individuals and companies who have supported the Group in the past. Other receipts for the year from fundraising events and donations remained similar at around £6,000 and this level of support is really appreciated by the committee and members.
As reported in last years accounts the £13,821 from the proceeds of Aiden’s Ball which was to be paid to a nominated charity was paid across to Friends of Staverton School at the end of July 2018.
The positive closing balance at the yearend still puts the Group in a comfortable financial position for the next financial year but the Trustees will need to consider the range and level of support and pricing for future events and activities in order to maintain a reasonable level of financial reserves to secure the Groups future.
The Group will continue to stage a wide variety of popular events which appeal to our members who have an ever widening range of interests and again the Group is grateful to the many individuals, groups and businesses that have supported the fundraising events and made generous donations of cash and prizes for the various events we hold throughout the year.
At this point it considered prudent to retain Haines Watts to undertake a financial review on an annual basis. Following last years’ review, the management letter did not highlight any short comings in the Groups figures and so was given a clean bill of health. We extend our thanks to Haines & Watts for their continued help and advice.
We have renewed our Trustee Liability insurance for another year at a cost of £134 which was the same cost as the previous year.
Financial Prospects 2019/2020
We are hoping for another successful year of fundraising in order to be able to continue to support our members as we have done in the past. The 2019/2020 will see a Black Tie Ball event in March 2020 to celebrate World Down Syndrome Day which will boost funds for the year.
To continue to support its members in times when fundraising is becoming increasingly difficult, the Group needs, and is always looking for new and innovative ways of raising funds. Therefore ideas and support from members is always welcome and appreciated any member with any ideas or comments please contact a member of the committee who will table it for discussion.
25th June 2019