AGM Finance Report and Audit disapplication 2024 - Revision history

Neville Reid: /* Review of the 2023/24 Financial Year, Ending 5th April 2024 */ insert £ before large Paypal donation amount. I suggest doing this on other versions for clarity

2024-09-07T18:39:00Z

Review of the 2023/24 Financial Year, Ending 5th April 2024: insert £ before large Paypal donation amount. I suggest doing this on other versions for clarity

← Older revision		Revision as of 18:39, 7 September 2024
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	We had a total income of £103,687 (2023: £151,188). Donations were £46,779 (2023: £111,054) - which includes £6,000		We had a total income of £103,687 (2023: £151,188). Donations were £46,779 (2023: £111,054) - which includes £6,000
	from PayPal Giving Fund UK (2023:73,000 from the PayPal Small Charities Campaign), and £13,372 for our Server Heroes		from PayPal Giving Fund UK (2023: £73,000 from the PayPal Small Charities Campaign), and £13,372 for our Server Heroes
	Appeal (2023: £9,818). We received £7,300 (2023: £7,200) from our very generous anonymous sponsor and Gift Aid		Appeal (2023: £9,818). We received £7,300 (2023: £7,200) from our very generous anonymous sponsor and Gift Aid
	reclaims amounted to £7,243 (2023: £5,286). Our income from advertising/trading was £21,532 (2023: £19,018), and we		reclaims amounted to £7,243 (2023: £5,286). Our income from advertising/trading was £21,532 (2023: £19,018), and we
	received £12,524 (2023: £6,000) in grants from local Councils. The remaining income included £303 (2023: £350) from		received £12,524 (2023: £6,000) in grants from local Councils. The remaining income included £303 (2023: £350) from
	Give As You Live, £3,350 in bank interest (2023: £1,164 ), and a payment of £4,500 from a third party for systems		Give As You Live, £3,350 in bank interest (2023: £1,164), and a payment of £4,500 from a third party for systems
	integration work.		integration work.

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	themselves aware of any relevant audit information and to establish that the society's independent examiners are aware		themselves aware of any relevant audit information and to establish that the society's independent examiners are aware
	of that information.		of that information.


	===Looking forward to Future Financial Years===		===Looking forward to Future Financial Years===

Jacky: /* Looking forward to Future Financial Years */

2024-09-07T06:09:59Z

Looking forward to Future Financial Years

← Older revision		Revision as of 06:09, 7 September 2024
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	However, we also have significant reserves and the Board has indicated a desire to spend some of these reserves to try to make Freegle more sustainable.		However, we also have significant reserves and the Board has indicated a desire to spend some of these reserves to try to make Freegle more sustainable.

	Note however, that reality is invariably different from what we forecast. Some things cost more, some things cost less, we might win some funds, we might not get as many donations, or we might get more and we will spend money on unexpected.		Note however, that reality is invariably different from what we forecast. Some things cost more, some things cost less, we might win some funds, we might not get as many donations, or we might get more and we will spend money on unexpected items and services.

	=== AUDIT ===		=== AUDIT ===

Jacky at 13:33, 5 September 2024

2024-09-05T13:33:03Z

← Older revision		Revision as of 13:33, 5 September 2024
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	The link to the full 2023/2024 accounts for Freegle Limited can be accessed at https://drive.google.com/drive/u/1/folders/1hjTUolU9H1Fx2djrO4oNTpLppVQWn5WP		The link to the full 2023/2024 accounts for Freegle Limited can be accessed at https://drive.google.com/file/d/1w7ZCr8aBHQ586GayZ_TM8HNlwLjPoBtM/view?usp=sharing <br>
			The link to all previous accounts is at
			https://drive.google.com/drive/u/1/folders/1hjTUolU9H1Fx2djrO4oNTpLppVQWn5WP

Jacky at 13:30, 5 September 2024

2024-09-05T13:30:45Z

← Older revision		Revision as of 13:30, 5 September 2024
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	The link to the full 2023/2024 accounts for Freegle Limited ~~is https://mail.google.com/mail/u/1/#inbox/FMfcgzQVzXWXcGpNRwxtHfcsQXTvtNfl?projector=1&messagePartId=0.1 and for previous accounts is~~ https://drive.google.com/drive/u/1/folders/1hjTUolU9H1Fx2djrO4oNTpLppVQWn5WP		The link to the full 2023/2024 accounts for Freegle Limited can be accessed at https://drive.google.com/drive/u/1/folders/1hjTUolU9H1Fx2djrO4oNTpLppVQWn5WP

Jacky at 13:26, 5 September 2024

2024-09-05T13:26:54Z

← Older revision		Revision as of 13:26, 5 September 2024
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	The link to the full 2023/2024 accounts for Freegle Limited is https://drive.google.com/drive/u/1/folders/1hjTUolU9H1Fx2djrO4oNTpLppVQWn5WP		The link to the full 2023/2024 accounts for Freegle Limited is https://mail.google.com/mail/u/1/#inbox/FMfcgzQVzXWXcGpNRwxtHfcsQXTvtNfl?projector=1&messagePartId=0.1 and for previous accounts is https://drive.google.com/drive/u/1/folders/1hjTUolU9H1Fx2djrO4oNTpLppVQWn5WP

Jacky: /* Looking forward to Future Financial Years */

2024-09-04T01:18:16Z

Looking forward to Future Financial Years

← Older revision		Revision as of 01:18, 4 September 2024
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	===Looking forward to Future Financial Years===		===Looking forward to Future Financial Years===

	The ~~board have~~ approved a budget forecast for the year. https://docs.google.com/document/d/1kyGaqBNiXsGPfo8rRpXcK9RYvi-s3MdaPFsNJGwv97o/edit?usp=sharing		The Board has approved a budget forecast for the year. https://docs.google.com/document/d/1kyGaqBNiXsGPfo8rRpXcK9RYvi-s3MdaPFsNJGwv97o/edit?usp=sharing

	The budget provided a view on what spending was likely to be in the next financial year (2024/25) and also a longer term view of our financial position.		The budget provided a view on what spending was likely to be in the next financial year (2024/25) and also a longer term view of our financial position.
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	The budget shows that we continue to spend more than we bring in (i.e. we have a structural deficit). The budget estimated this to be about £47k per year.		The budget shows that we continue to spend more than we bring in (i.e. we have a structural deficit). The budget estimated this to be about £47k per year.

	However, we also have significant reserves and the ~~board~~ has indicated a desire to spend some of these reserves to try to make Freegle more sustainable.		However, we also have significant reserves and the Board has indicated a desire to spend some of these reserves to try to make Freegle more sustainable.

	Note however, that reality is invariably different from what we forecast. Some things cost more, some things cost less, we might win some funds, we might not get as many donations, or we might get more and we will spend money on unexpected.		Note however, that reality is invariably different from what we forecast. Some things cost more, some things cost less, we might win some funds, we might not get as many donations, or we might get more and we will spend money on unexpected.


	=== AUDIT ===		=== AUDIT ===

NotNowCraig: Removed reference to values for start of year position from budget as feedback was that this was problematic.

2024-09-03T17:39:53Z

Removed reference to values for start of year position from budget as feedback was that this was problematic.

← Older revision		Revision as of 17:39, 3 September 2024
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	The board have approved a budget forecast for the year. https://docs.google.com/document/d/1kyGaqBNiXsGPfo8rRpXcK9RYvi-s3MdaPFsNJGwv97o/edit?usp=sharing		The board have approved a budget forecast for the year. https://docs.google.com/document/d/1kyGaqBNiXsGPfo8rRpXcK9RYvi-s3MdaPFsNJGwv97o/edit?usp=sharing

	The ~~board recognise that we continue~~ to ~~spend more than we bring~~ in (~~i.e. we have~~ a ~~structural deficit). The budget estimated this to be about £47k per year~~.		The budget provided a view on what spending was likely to be in the next financial year (2024/25) and also a longer term view of our financial position.

	~~However,~~ we ~~also~~ have ~~significant reserves~~. The budget estimated ~~these~~ to be ~~£98k at the start of the 2024/25 financial~~ year~~. The board has indicated a desire to spend some of these reserves to try to make Freegle more sustainable~~.		The budget shows that we continue to spend more than we bring in (i.e. we have a structural deficit). The budget estimated this to be about £47k per year.

	~~The budget estimated that~~ we ~~will~~ have ~~sufficient funds~~ to ~~operate~~ Freegle ~~until May 2026~~.		However, we also have significant reserves and the board has indicated a desire to spend some of these reserves to try to make Freegle more sustainable.

	Note however, that reality is invariably different from what we forecast. Some things cost more, some things cost less, we might win some funds, we might not get as many donations, or we might get more and we will spend money on unexpected~~. For example, our annual accounts reveal that our reserves at the start of the 2024/25 financial year were in fact £124k, rather than the £98k estimated in the budget~~.		Note however, that reality is invariably different from what we forecast. Some things cost more, some things cost less, we might win some funds, we might not get as many donations, or we might get more and we will spend money on unexpected.

NotNowCraig at 08:38, 2 September 2024

2024-09-02T08:38:34Z

← Older revision		Revision as of 08:38, 2 September 2024
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	The board have approved a budget forecast for the year. https://docs.google.com/document/d/1kyGaqBNiXsGPfo8rRpXcK9RYvi-s3MdaPFsNJGwv97o/edit?usp=sharing		The board have approved a budget forecast for the year. https://docs.google.com/document/d/1kyGaqBNiXsGPfo8rRpXcK9RYvi-s3MdaPFsNJGwv97o/edit?usp=sharing

	The board ~~regocnise~~ that we continue to spend more than we bring in (i.e. we have a structural deficit). ~~This ie~~ estimated to be about £47k.		The board recognise that we continue to spend more than we bring in (i.e. we have a structural deficit). The budget estimated this to be about £47k per year.

	However we also have significant reserves (estimated to be £98k at the start of the 2024 ~~financiasl~~ year). The board has indicated a desire to spend some of these reserves to try to make Freegle more sustainable.		However, we also have significant reserves. The budget estimated these to be £98k at the start of the 2024/25 financial year. The board has indicated a desire to spend some of these reserves to try to make Freegle more sustainable.

	~~Based on our calculations,~~ we will have sufficient funds to operate Freegle until May 2026.		The budget estimated that we will have sufficient funds to operate Freegle until May 2026.

	Note however, that reality is invariably different from what we forecast. Some things cost more, some things cost less, we might win some funds, we might not get as many donations, or we might get more~~. We~~ will spend money on ~~things we never expected~~.		Note however, that reality is invariably different from what we forecast. Some things cost more, some things cost less, we might win some funds, we might not get as many donations, or we might get more and we will spend money on unexpected. For example, our annual accounts reveal that our reserves at the start of the 2024/25 financial year were in fact £124k, rather than the £98k estimated in the budget.

NotNowCraig: Added a section on future financial year, with information from, and a link to, the budget

2024-09-01T15:38:33Z

Added a section on future financial year, with information from, and a link to, the budget

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 === FINANCE REPORT ===
 The Committee (Board) presents its report and accounts for the year ended 5 April 2024.
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 themselves aware of any relevant audit information and to establish that the society's independent examiners are aware
 of that information.

Jacky at 11:10, 21 August 2024

2024-08-21T11:10:23Z

← Older revision		Revision as of 11:10, 21 August 2024
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	£5,042) is restricted for specific expenditure. Although we did not have a surplus this year, our rules state that any profits		£5,042) is restricted for specific expenditure. Although we did not have a surplus this year, our rules state that any profits
	are applied solely to the continuation and development of the Society.		are applied solely to the continuation and development of the Society.


			The link to the full 2023/2024 accounts for Freegle Limited is https://drive.google.com/drive/u/1/folders/1hjTUolU9H1Fx2djrO4oNTpLppVQWn5WP


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	themselves aware of any relevant audit information and to establish that the society's independent examiners are aware		themselves aware of any relevant audit information and to establish that the society's independent examiners are aware
	of that information.		of that information.


	=== AUDIT ===		=== AUDIT ===