Good Evening,
The accounts for the period 22/23 have been delayed but a draft copy has been sent to all members and I have a copy on my laptop if anyone has not had a chance to peruse them.
It is evident that our total assets have reduced from £99474 to £69149 and this is from employment costs and convention subsidy (£16470) which were not covered by fundraising and donations. Obvious this situation cannot be sustained in longer term without significant fundraising or cost cutting. I have to say that this financial year to date has seen a great increase in Fundraising and we are very grateful to everyone for their efforts. However we have reduced our reserves to one year to free up capital to carry on our day to day activities. Some of you may be aware that we are awaiting a sizeable legacy from the estate of Joy Rainey but we cannot rely on this as it is proving very difficult to evaluate her assets in Australia, therefore we need to keep up the fundraising efforts. As a rough guideline ,we need to raise about £2500 per month to break even and not dip too heavily into our funds, so keep up the good work