FRIENDS OF FAIRFORD AND LECHLADE COMMUNITIES
Financial health, per its FY2023 accounts
The accounts state that the charity reported a deficit of £70,306 for the year ended 31 December 2023, resulting in unrestricted funds standing at a deficit of £68,188. The trustees note that the charity is in a loss-making situation and relies on support from its sister charity, The League of Friends of Fairford Hospital, to continue operating during the transition period. Total unrestricted reserves across both sister charities were reported as £429,858, which the trustees consider sufficient to meet obligations for two years.
What the accounts disclose
“The Trustees feel that total unrestricted reserves across both sister Charities of £429,858 (2022: £470,713) is sufficient to meet its obligations for two years is the optimum amount to hold” — page 6
“The Trustees have support from its sister charity, The League of Friends of Fairford Hospital, the aims & objectives of which it will eventually take over. The support from this charity will enable The Friends of Fairford & Lechlade Communities to continue to operate whilst going through this transition period.” — page 7
“Accountancy fees include charges of £3,999 (2022:£840) for the preparation of the accounts and £2,714 for book keeping. These were completed by AMM Bookkeeping & Accountancy a company owned by one of the Trustees. The Charity's Governing document states that: "Trustees can be paid but only if usual professional charges of any Trustee who is a solicitor / accountant / professional and when instructed by the Charity to act in a professional capacity" Page 17” — page 19
Year-over-year changes
- Going concern: no going-concern doubt (FY2022) → going-concern doubt noted (FY2023).
Trustees
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £198k | £181k |
| 31/12/2023 | £120k | £190k |
| 31/12/2022 | £143k | £165k |
| 31/12/2021 | £19k | £47k |
| 31/12/2020 | £65k | £23k |
Common questions
Is FRIENDS OF FAIRFORD AND LECHLADE COMMUNITIES financially healthy?
The accounts state that the charity reported a deficit of £70,306 for the year ended 31 December 2023, resulting in unrestricted funds standing at a deficit of £68,188. The trustees note that the charity is in a loss-making situation and relies on support from its sister charity, The League of Friends of Fairford Hospital, to continue operating during the transition period. Total unrestricted reserves across both sister charities were reported as £429,858, which the trustees consider sufficient to meet obligations for two years. Its FY2023 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE MILLICHOPE FOUNDATION | 1 | £5k |