Treasurer’s Report 2022
Shaftesbury Refugee Group, Treasurer’s Report
AGM 10 October 2022
Charity Accounts
The financial year for the SRG runs from 1 January to 31 December each year. The Annual Treasurer’s report has been compiled based on the guidelines issued by the Charity Commission. The attached Charity accounts for the financial year to 31 December 2021, have been prepared on a Receipts and Payments basis, and have also been compiled in accordance with the guidelines issued by the Charity Commission. They have been examined by an external examiner who has no connection with the charity.
2021 Accounts Overview.
For the financial year covered by this report, the SRG’s only beneficiaries were the 3 Syrian families with UK-awarded refugee status based in Shaftesbury and Gillingham. Our financial help to them consisted mainly of gifts of cash to buy equipment for their nascent catering businesses, and to fund school trips/clothing etc for their children.
Covid restrictions meant that fund-raising activity was very limited. We ran no fund-raising events, and relied on donations by a handful of individuals and one organisation.
The opening bank balance on 1 Jan 2021 was £1874. Income in the year totalled £1000, including a £200 Gift Aid refund from HMRC. Payments, all made under our Refugee Support criteria, totalled £905. This resulted in a surplus of £95 for the year, reflected in the closing bank balance on 31 Dec 2021 of £1969.
2022 - Change of Treasurer and accounting systems
In May, Malcolm Wilson, our Treasurer since the creation of the SRG in 2017, resigned. We are immensely grateful to him for his professionalism in setting up and maintaining the accounts during these 4 ½ years, and in establishing our relationship with HMRC. He has been a steady hand on the Board of Trustees, and we will miss him.
John Macpherson was elected as the new Treasurer in May 2022. He had been on the Board of Trustees since July 2020.
Since May 2022, our accounts have been moved from a hard copy cash book to a digital format, and we now use internet banking. This has significantly speeded up and simplified our financial procedures. The introduction of the SRG website this year has both encouraged donations, and simplified the relevant procedures, including for Gift Aid.
Looking ahead to possible expansion of activity, we also took the opportunity to establish clear policies on finance, finance procedures, expenses and reserves.
Donations tied to specific aims meant that for the first time we have had to distinguish between Unrestricted and Restricted funds.
SRG Financial changes and prospects
The arrival of Ukrainian refugees in early 2022, impacted significantly on the SRG, including financially. In line with our constitution the SRG Trustees agreed to support Ukrainian and other refugee families living in the properties in and around Shaftesbury, including Motcombe and Gillingham.
Anticipating the need for greater expenditure, we successfully applied for funding from 2 local organisations, Asda and The Dorset Community Foundation. The two sums awarded total £5,500, both for Unrestricted use; a very significant sum for a charity of our size.
With other donations, the SRG’s accumulated funds at the end of August 2022 are healthy. That brings two consequences: our annual income now exceeds £5,000, which means we must register with the Charity Commission as well as our current registration with HMRC. Our large donors will need evidence of how their funds have been spent.
John Macpherson
SRG Treasurer
4 September 2022