London Office Veterans

Financial Summary/Accounts

1 July 2024

London Office Veterans – Summary July 2024

• Another most successful Doggett’s was held event on 15th May 2024 in ideal weather and a future event is booked for 14th May 2025. Sainsbury’s Veterans Association (SVA) funding of £3,000 was received in March ’24 enabling the cost of 2025 to be covered.

• The 2024 event saw an increase in costs due to higher expected numbers and rising hospitality costs generally.
Continued prudent menu selection of the buffet lunch items for future events will be necessary as hospitality cost pressures are expected to continue.

• Future event cost is assumed to rise by 10% in 2025 with increasing external cost pressures, and anticipated attendance growth although venue capacity is 180. (152 attended Doggett’s 2024).

• Other activities this financial year have been organised/delivered at breakeven. Committee expenses have been zero due to the use of Zoom for Committee meetings which together have contributed to a good financial position.

• Going forward, the key is the ongoing funding formula. Continuation of the current level/timing will enable us to deliver an event in 2026 as well as 2025.

• Continuing the use of Zoom will keep our operating costs to a minimum and the Walking Events can be very successful with a small charge per head when appropriate to cover walk leader hire cost.

London Office Veterans – Accounts and Cashflow Summary

Date        Detail                                   Income              Expenses        Balance     Notes
20/06/23 Balance post 2023 event                                                       £4,707.72
31/12/23 Interest Oct-Dec ‘23             £6.22                                          £4,713.94
20/03/24 SVA Grant                       £3,000.00                                          £7,713.94
15/05/24 Doggett’s ‘24                                                 £2,970.00           £4,43.94       Gross cost £3,270.00 including deposit paid May 2023
14/06/24 Doggett’s ‘25 deposit                                   £3,00.00            £4,443.94
14/06/24 Pension Dept goodwill   £100.00                                         £4,543.94
Doggett’s ‘25                                                                 £3,270.00*         £1,273.94 *est gross cost £3570

Note:
• Cost of Doggett’s assumed to increase by 10% each year due to external cost pressures at the venue (food, labour, overheads etc). Numbers of attendees have remained similar in 2023 and 2024.
• Majority of funds held in interest paying deposit account. 2024 interest estimated at £40.00.