GENERAL TREASURER’S REPORT

I have pleasure in presenting my report and accounts of the Central Fund and Central Reserve Fund for the year ended 31st December 2003.

After last year’s decrease in subscriptions there has been a small increase in 2003. Excluding the contribution from the Diocese of Winchester for travel to the Channel Islands, the Central Fund’s income almost stayed the same as 2002. The increase in subscriptions being counteracted by the decrease in peal fees.

Turning to the expenditure, there has been a further increase in our Public Liability Insurance. Our brokers did a good job in obtaining cover in a difficult market. The insurance was renewed again for 2004 but with restrictions on the cover. We are no longer covered for work undertaken on bells without first referring this to the insurers. A minor inconvenience but it has resulted in the cost being kept at 2003 levels.

The Executive authorised the purchase of lifting gear for use by the Belfry Stewardship Committee. This is included in our balance sheet and I will write this off to our Income and Expenditure account over five years. The Ringing World advertisements include the first full year of adverts for the mid-monthly meetings and my expenses include extra for attendance at a meeting last January to discuss the possibility of registering the Guild as a charity.

Overall we have incurred a small loss for 2003 but the full effect of the subscription increase will be reflected in the 2004 accounts so I would expect the Central Fund to be back in profit.

District subscriptions were received as follows:-

Total financial assets held by the Guild are as follows:-