Just Giving Facebook

Statement of Financial Position

Downs Syndrome Group Northampton

Statement of Financial Position as At March 31st 2020

A Financial review of the year

The Trustees are pleased to submit their report on the Finances of the Group as at 31st March 2020.

It is with pleasure that the Trustees can report that the balance of funds at the end of the year were £27,437 compared to £40,695 for the previous year. The main reason for the reduction in retained earnings was that the Black Tie Ball, which generates a large contribution to our funds, needed to be rescheduled to January 2021 because of Covid 19. This was a difficult decision but the Trustees took the view that the virus would substantially effect the numbers attending and hence the total funds generated. The rescheduling was at no cost to DSGN as the venue will hold the money as part payment for the new date.

Other receipts for the year from fundraising events and donations increased year on year by around £3,000. This was thanks to a number of strong cycling and running events and this level of support is really appreciated by the committee and members.

The positive closing balance at the year end still puts the Group in a comfortable financial position for the next financial year but the Trustees considered it prudent to review the range and level of support for the groups events and activities. It was agreed that a contribution should be made towards the BBQ and Xmas Party and after careful consideration it was decided to suspend the Occupational Therapy sessions in order to reduce the overall level of expenditure. Most schools provide OT support and it was viewed there is greater benefit to our members by retaining the speech and language support. The effect of these moves should be a £10,000  saving per year.

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 Fortus (formally named 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 Fortus 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 2020/2021

We are hoping for another successful year of fundraising but realise in times of Covid19 this will be challenging and every pound of funding and expenditure counts. The Black Tie Ball planned for January 2021, if Government Policy allows, should boost funds and allow us to continue to support our members as we have done in the past. In these difficult times, 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.

Stephen Allwork


3rd September 2020