F&GP Meeting November 2017
Finance and General Purpose Committee Meeting 7th November 2017
Finance and General Purpose Committee Meeting
Tuesday 7 th November 2017
Directions to New Prospect House Waterloo
8 Leake Street London SE1 7NN
Tel: 020 7902 6600
TRAIN New Prospect House is just a few minutes' walk from Waterloo mainline station. Turn left after exiting the ticket gates, and look for Exit 6 at the far end of the concourse. As you leave the station and start to cross a pedestrian bridge, turn right down a flight of stairs. This brings you out on York Road; turn left, walk along a parade of shops and cafes, and Leake Street is the first turning on the left. Exits 1, 2 and 3 have step-free access. TUBE Waterloo underground station (Bakerloo, Northern and Jubilee lines) is just a few minutes' walk from New Prospect House. Westminster station (Circle, District and Jubilee lines) is less than a ten- minute walk across Westminster Bridge. BUS Bus routes 76, 77, 211, 341, 381 and 507 stop on York Road, just around the corner from our office in Leake Street. There are many other routes serving the wider Waterloo area - see www.quickmap.com/movie1wat.htm RIVER London Eye Millennium pier has boat services to and from Bankside, London Bridge, Tower Bridge, Canary Wharf, Greenwich, the O2 centre and Woolwich. Festival pier (near the South Bank centre) has a hop-on, hop-off circular service to Bankside, London Bridge City, St. Katharine’s, Westminster and Embankment. CAR They have a small car park with two parking bays for disabled users only. There is an underground commercial car park in Leake Street run by Universal Parking, telephone 020 7234 9399.
Finance and General Purposes Committee
November 7 th 2017
AGENDA.
1 2 3 4 5 6 7 8 9
Financial Position:
Nursery
Hotel. GFTU
ET
Budgets 2018
Nursery
Hotel GFTU
10 11 12
ET
Secretary’s Report Any Other Business.
Nursery Budget 2017
Jan
Feb
Mar
Apr
Income Fees- including grant
20,000.00
20,000.00
21,000.00
21,000.00
Total
20,000.00
20,000.00
21,000.00
21,000.00
Expenses Staffing
15,000.00 1,500.00
15,000.00 1,500.00
15,000.00 1,500.00
15,000.00 1,200.00
Meals Food
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
Petty cash
Utilities: Gas
Utilities: Electricity
Utilities: Water
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
Telephone
Maintenance
100.00 100.00 100.00
100.00 100.00 100.00
Printing
Stationery Art supplies
50.00 80.00
50.00 50.00
50.00
Technology: Softwear Marketing: New Brochure
50.00 38.00
Pest control
38.00 50.00
38.00 50.00
Cleaning Supplies Waste Management
100.00 200.00 150.00 500.00 200.00 150.00 250.00 100.00 200.00
100.00 200.00 150.00 500.00 200.00 150.00 250.00 100.00 200.00
200.00 150.00 500.00 200.00 150.00 250.00 100.00 200.00
200.00 150.00 500.00 200.00 150.00 250.00 100.00 200.00
IT expenses
Business Rates & Insurance
Professional Fees
Depreciation
Technology: Nursery Management Software Marketing: Website
Health and Safety / First Aid
Staff Training GFTU Gift Aid
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
GFTU salary contribution
Total
25,488.00
25,168.00
25,350.00
24,838.00
Net profit/loss
-
5,488.00
5,168.00 -
4,350.00 -
3,838.00 -
May
Jun
Jul
Aug
Sept
Oct
Nov
21,000.00
21,000.00
19,000.00
18,000.00
19,000.00
19,000.00
20,000.00
21,000.00
21,000.00
19,000.00
18,000.00
19,000.00
19,000.00
20,000.00
15,000.00 1,500.00
15,000.00 1,500.00
15,000.00 1,200.00
15,000.00
15,000.00
15,000.00 1,000.00
15,000.00 1,100.00
900.00 150.00 150.00 250.00 250.00
900.00 150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
100.00 100.00 100.00
100.00 100.00 100.00
100.00 100.00 100.00
100.00 100.00 100.00 100.00
50.00 80.00
50.00
50.00
50.00
800.00
100.00
100.00
50.00 38.00
38.00 50.00
38.00
38.00
38.00 50.00
100.00 200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
100.00 200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
50.00
100.00 200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
100.00 200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
25,450.00
26,068.00
25,288.00
24,650.00
24,938.00
24,688.00
25,238.00
4,450.00 -
5,068.00 -
6,288.00 -
6,650.00 -
5,938.00 -
5,688.00 -
5,238.00 -
Dec
Total
20,000.00
239,000.00
20,000.00
239,000.00
15,000.00 1,100.00
180,000.00 14,900.00
150.00 150.00 250.00 250.00
1,800.00 1,800.00 3,000.00 3,000.00
50.00 50.00
600.00 600.00 600.00 600.00 900.00 410.00 800.00 300.00 342.00 900.00
50.00
38.00 50.00
200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
2,400.00 1,800.00 6,000.00 2,400.00 1,800.00 3,000.00 1,200.00 2,400.00 48,000.00 21,600.00 800.00
4,000.00 1,800.00
24,788.00
301,952.00
4,788.00 -
-
62,952.00
Nursery Budget 2018 Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
Total
Income
Actual 2017 Actual 2017 Actual 2017 Actual 2017 Actual 2017 Actual 2017 Actual 2017 Actual 2017 Budget 2017 Budget 2017 Budget 2017 Budget 2017
Fees- including LCC grant
20,600.00
20,600.00
20,600.00
22,900.00
25,400.00
25,200.00
26,200.00
29,452.00
19,000.00
19,000.00
20,000.00
20,000.00
268,952.00
Total
20,600.00
20,600.00
20,600.00
22,900.00
25,400.00
25,200.00
26,200.00
29,452.00
19,000.00
19,000.00
20,000.00
20,000.00
268,952.00
Expenses Staffing
15,000.00 1,500.00
15,000.00 1,600.00
15,000.00 2,200.00
15,000.00 2,200.00
15,000.00 2,200.00
15,000.00 2,200.00
15,000.00 1,200.00
15,000.00
15,000.00
15,000.00 1,000.00
15,000.00 1,100.00
15,000.00 1,100.00
180,000.00 18,100.00
Meals
900.00 150.00 250.00 250.00
900.00 150.00 250.00 250.00
Food
300.00 250.00 250.00
300.00 250.00 250.00
400.00 250.00 250.00
500.00 250.00 250.00
400.00 250.00 250.00
300.00 250.00 250.00
300.00 250.00 250.00
150.00 250.00 250.00
150.00 250.00 250.00
150.00 250.00 250.00
3,250.00 3,000.00 3,000.00
Utilities: Gas
Utilities: Electricity
Utilities: Water
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
600.00 600.00 600.00
Telephone
Repairs & Maintenance Printing & Stationery Art supplies (creative supplies)
100.00 250.00
100.00 250.00
100.00 250.00
100.00 250.00
100.00 250.00
100.00 250.00
250.00
250.00
250.00
250.00
250.00
250.00
3,000.00
200.00
200.00
200.00
200.00
200.00
200.00
200.00
1,400.00
Advertising/ Marketing: New Brochure, Website
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
1,800.00
Pest control
38.00
38.00
38.00
38.00
38.00
38.00
38.00
38.00
38.00
342.00 900.00
Cleaning Supplies Waste Management
150.00 200.00 125.00 500.00 200.00 200.00
150.00 400.00 125.00 500.00 200.00 200.00
150.00 500.00 125.00 500.00 200.00 200.00
150.00 200.00 125.00 500.00 200.00 200.00
150.00 200.00 125.00 500.00 200.00 200.00
150.00 200.00 125.00 500.00 200.00 200.00
200.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
300.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
300.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
200.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
200.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
200.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
3,100.00 1,500.00 6,000.00 2,400.00 2,400.00
IT expenses
Business Rates & Insurance
Professional Fees
Depreciation
Technology: Nursery Management Software
125.00 150.00
125.00 150.00
125.00 150.00
125.00 150.00
125.00 150.00
125.00 150.00
1,500.00 1,800.00
General Expenses
Staff Training GFTU Gift Aid
600.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
48,000.00 21,600.00
GFTU salary contribution
Total
25,588.00
25,338.00
26,550.00
26,238.00
26,650.00
26,038.00
25,288.00
24,450.00
24,838.00
24,588.00
25,038.00
24,888.00
305,492.00
Net profit/loss
-
4,988.00
4,738.00 -
5,950.00 -
3,338.00 -
1,250.00 -
-
838.00
912.00
5,002.00
5,838.00 -
5,588.00 -
5,038.00 -
-
4,888.00
-
36,540.00
Gift Aid
48,000.00 21,600.00
GFTU salary contribution
Assumpations
Fees income will be same as 2017
33,060.00
Garden expenses Budget ?????
Nursery Budget 2019
Double -current actual
New Build
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
Total
Income Fees- including grant School holiday club
40,000.00
40,000.00 1,512.00 2,100.00 2,100.00
42,000.00
42,000.00 2,419.20 1,400.00 1,400.00
42,000.00
42,000.00
40,000.00 3,024.00 1,540.00 1,540.00
40,000.00 4,838.40
38,000.00
38,000.00 1,512.00 2,380.00 2,380.00
40,000.00
40,000.00
484,000.00
604.80
604.80
14,515.20
Breakfast Club After School Club
2,520.00 2,520.00
3,220.00 3,220.00
2,660.00 2,660.00
2,800.00 2,800.00
840.00 840.00
2,940.00 2,940.00
3,080.00 3,080.00
1,960.00 1,960.00
27,440.00
27,440.00
Total
45,040.00
45,712.00
48,440.00
47,219.20
47,924.80
48,204.80
46,104.00
46,518.40
43,880.00
44,272.00
46,160.00
43,920.00
553,395.20
Expenses Staffing
32,000.00 3,500.00
32,000.00 3,500.00
32,000.00 3,500.00
32,000.00 2,900.00
32,000.00 3,500.00
32,000.00 3,500.00
32,000.00 2,900.00
32,000.00 2,300.00
32,000.00 2,300.00
32,000.00 2,300.00
32,000.00 2,700.00
32,000.00 2,700.00
384,000.00 35,600.00
Meals
Food
300.00 500.00 500.00 100.00 100.00 200.00 300.00 100.00
300.00 500.00 500.00 100.00 100.00
300.00 500.00 500.00 100.00 100.00 200.00 300.00
300.00 500.00 500.00 100.00 100.00
300.00 500.00 500.00 100.00 100.00 200.00 300.00
300.00 500.00 500.00 100.00 100.00
300.00 500.00 500.00 100.00 100.00 200.00 300.00
300.00 500.00 500.00 100.00 100.00
300.00 500.00 500.00 100.00 100.00 200.00 300.00 100.00
300.00 500.00 500.00 100.00 100.00
300.00 500.00 500.00 100.00 100.00 200.00 300.00 200.00
300.00 500.00 500.00 100.00 100.00
3,600.00 6,000.00 6,000.00 1,200.00 1,200.00 1,200.00 3,600.00
Utilities: Gas
Utilities: Electricity
Utilities: Water
Telephone
Maintenance
-
-
-
-
-
-
Printing & Stationery
300.00 160.00
300.00 100.00
300.00 160.00
300.00
300.00
300.00
Art supplies
-
-
-
-
-
-
820.00
Advertising/ Marketing: New Brochure Website
100.00
-
- -
-
- -
-
200.00
200.00
-
-
100.00
-
600.00 684.00
Pest control
76.00
76.00
76.00
76.00
76.00
-
76.00
76.00
76.00
76.00
Cleaning Supplies Waste Management
200.00 400.00 300.00
100.00 400.00 300.00
200.00 400.00 300.00
100.00 400.00 300.00
200.00 400.00 300.00
100.00 400.00 300.00
200.00 400.00 300.00
100.00 400.00 300.00
200.00 400.00 300.00
100.00 400.00 300.00
200.00 400.00 300.00
100.00 400.00 300.00
1,800.00 4,800.00 3,600.00 12,000.00 4,800.00 3,600.00 1,800.00 2,400.00 4,800.00 48,000.00 21,600.00
IT expenses
Business Rates & Insurance
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
Professional Fees
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
Depreciation
Technology: Nursery Management Software
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
General Expense
Staff Training GFTU Gift Aid
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
GFTU salary contribution
Total
46,926.00
46,586.00
46,650.00
45,926.00
46,650.00
46,586.00
46,326.00
45,350.00
45,626.00
45,226.00
46,226.00
45,626.00
553,704.00
Net profit/loss
-
1,886.00
-
874.00
1,790.00
1,293.20
1,274.80
1,618.80
-
222.00
1,168.40
1,746.00 -
-
954.00
-
66.00
-
1,706.00
-
308.80
Gift Aid
48,000.00 21,600.00
GFTU salary contribution
69,291.20
Assumpations Fees income will be double
9 children
9 children 9 children 9 children 9 children 9 children
9 children
School holiday club
Half day plus 2 additional hours at 4.30/hr = £33.60 5 days
8 days
2 days
2 days
10 days
16 days
5 days
Income
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
Breakfast Club 7 children x £20 each session
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
1,680.00
Term days
18
15
23
10
19
20
11
6
21
17
22
14
196
Income
2,520.00
2,100.00
3,220.00
1,400.00
2,660.00
2,800.00
1,540.00
840.00
2,940.00
2,380.00
3,080.00
1,960.00
27,440.00
After School Club 7 children x £20 each session
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
1,680.00
Term days
18
15
23
10
19
20
11
6
21
17
22
14
196.00
Income
2,520.00
2,100.00
3,220.00
1,400.00
2,660.00
2,800.00
1,540.00
840.00
2,940.00
2,380.00
3,080.00
1,960.00
27,440.00
QUORN GRANGE HOTEL FINANCIAL OVERVIEW (Jan 17 to Dec 17)
HOTEL SALES 2014-2017
January 75,891 71,508 65,457 69,680
February
March 99,170 101,137 104,534 86,334
April
May
June
July August September
Totals
2014 2015 2016 2017
75,521 83,912 78,246 88,225
92,463 90,480 87,556 130,696
117,353 112,281 127,392 116,905 87,970 904,946 144,565 125,722 93,968 148,952 142,374 1,002,618 112,411 104,985 124,536 115,457 122,170 915,352 128,433 130,683 155,763 146,436 147,266 1,083,516
HOTEL NET PROFIT/(LOSS) PRIOR YEAR COMPARISONS 2014-17 January February March
April 6,875
May
June
July August September
Totals 70,330 67,484
2014 2015 2016 2017
(7,522) (20,621) (50,664) (51,566)
(13,452) (7,539) (27,882) (32,308)
2,999 7,896
22,940 19,123 23,347 18,510
(2,490)
(3,918) (23,395) (2,221)
37,149 18,504
(14,559)
30,546 20,027
(14,172) (25,000)
(6,470) (2,149)
(14,549) (16,489) (6,215) (3,286)
11,036
(6,698)
(149,282) (111,159)
2,066
9,519
HOTEL BUDGET v ACTUAL NET PROFIT/(LOSS) 2017 January February
March 8,465
April 3,863
May
June
July August September
Totals 4,157
2017 BUDGET 2017 ACTUAL
(22,552) (51,566) (29,014)
(14,339) (32,308) (17,969)
6,874
3,631 6,079 6,953
5,183 9,519 4,337
(25,000) (33,465)
(2,221) (6,084)
(2,149) (9,023)
(6,215) (9,846)
(3,286) (9,365)
2,066
(111,160) (115,317)
(4,887)
Variance
YTD OVERALL PRIOR YEAR ANALYSIS HOTEL NET PROFIT/(LOSS) 2014 2015 2016
2017
Hotel
70,329.70
67,484.26
(149,281.76)
(111,159.42)
Hotel Sales 2015-2017
180,000.00
160,000.00
140,000.00
120,000.00
100,000.00
2015
2016
80,000.00
2017
60,000.00
40,000.00
20,000.00
-
January
February
March
April
May
June
July
August
September
October
November
December
January
February
March
April
May
June
July
August
September 142,373.92 122,170.00 147,266.32
October
November 98,422.34 107,437.55
December 123,528.38 128,105.29
Total
2015 2016 2017
71,507.97 65,457.00 69,680.00 4,223.00
83,912.22 78,246.12 88,225.00 9,978.88
101,136.75 104,533.56 86,334.00 18,199.56
90,479.69 87,556.48 130,695.90 43,139.42
144,564.76 112,411.00 128,433.00 16,022.00
125,722.33 104,985.00 130,683.21 25,698.21
93,968.18 124,536.00 155,762.51 31,226.51
148,952.40 115,397.00 146,436.32 31,039.32
116,747.35 93,994.20
1,341,316.29 1,244,829.20 1,083,516.26 161,312.94
Variance
-
25,096.32
93,994.20 -
107,437.55 -
128,105.29 -
-
Hotel Budget V Actual Net Profit by Month January
February (32,308)
March
April
May
June
July
August
September
October
November
December
Total
2017 Actual Net Profit
(51,566)
(25,000)
(2,221)
(2,149)
(6,215)
(3,286)
2,066
9,519
0
0
0
(111,160)
2017 Budget Net Profit
(22,552)
(14,339)
8,465
3,863
6,874
3,631
6,079
6,953
5,183
3,686
(2,874)
7,099
12,069 123,229
Variance
29,014
17,969
33,465
6,084
9,023
9,846
9,365
4,887
(4,337)
3,686
(2,874)
7,099
2017 Hotel Budget vs Actual Net Profit/(Loss)
20,000
10,000
0
January
February
March
April
May
June
July
August
September
October
November
December
(10,000)
2017 Actual Net Profit
(20,000)
2017 Budget Net Profit
(30,000)
(40,000)
(50,000)
(60,000)
Budget v ACTUAL Sales
January
February
March
April
May
June
July
August
September
October
November
December
Total
2017 Budget 2017 Sales
81,373 69,680
87,894 88,225
122,601 86,334 (36,267)
121,190 130,696
133,652 128,433 (5,219)
113,444 130,683 17,239
140,385 155,763 15,378
148,043 146,436 (1,607)
143,034 147,266
118,166
104,256
117,069
1,431,107 1,083,516 (347,591)
0
0
0
Variance
(11,693)
331
9,506
4,232 (118,166)
(104,256)
(117,069)
2017 Hotel Sales vs Budget
180,000
160,000
0 0 1,083,516 (347,591)
140,000
120,000
100,000
2017 Budget
80,000
2017 Sales
60,000
40,000
20,000
0
January
February
March
April
May
June
July
August
September
October
November
December
1
Page:
Date: 18/10/2017
Quorn Grange Hotel
Time: 10:46
Profit & Loss by Department (Advanced Budget and Variance)
All
Period From:
2017 Month 9, September Year:
Department:
Period To:
Month 9, September
Chart of Accounts: Detailed Layout of Accounts
Actual
Budget
Variance
Sales Food & Beverages Miscellaneous Sales
34,086.85 1,518.32 62,533.38 3,638.33 37,401.50
11,104.45 1,018.32 5,077.38 (1,861.67) (7,598.50) (2,500.00)
22,982.40
500.00
Accomodation Conferences
57,456.00 5,500.00 45,000.00 2,500.00 5,745.60 2,600.00
Weddings
Hotel Events
0.00
Breakfast Sales Nursery Meals Gym Membership
5,919.51 1,752.85
173.91
(847.15) (329.87) (37.88)
370.13
700.00
Bank Interest Kurdish Event
12.12 33.33
50.00
33.33
0.00
147,266.32
143,034.00
4,232.32
Purchases Food & Beverages Purchases Miscellaneous Purchases
20,000.91
5,187.33
25,188.24
0.00
100.00
100.00
Function Purchases
2,347.48 1,234.42 6,023.02
(2,347.48) (1,234.42) (6,023.02)
0.00 0.00 0.00
Hotel Room Consumables
Movement in Stock
29,605.83
25,288.24
(4,317.59)
Direct Expenses Operating Gross Wages
38,839.49
18,374.11
57,213.60 1,430.34
Operating Employer Pension
511.18
919.16
Admin Gross Wages
16,804.69
(16,804.69)
0.00 0.00 0.00
Agency Staff
766.72 269.29
(766.72) (269.29)
Admin Employers Pension
57,191.37
58,643.94
1,452.57
Gross Profit (Loss):
60,469.12
59,101.82
1,367.30
Overheads Bar & Restaurant Consumables Cleaning & Laundry
163.40
(163.40)
0.00
6,198.01 (6,531.46) 3,294.17
696.71
6,894.72
Events
7,246.63 2,427.19
715.17
Marketing
5,721.36
Recruitment Advertising
0.00
60.00
60.00
IT Expenses
4,508.45 2,376.95
(3,508.45) (1,726.95)
1,000.00
Printing & Stationery
650.00
Postage
118.00
(83.00) (935.23)
35.00
Garden Expenditure Gym Expenditure Repairs & Maintenance
4,007.23
3,072.00
70.10
79.90
150.00
4,094.63 2,550.59 (40.76)
(2,083.67)
2,010.96 2,298.24
Kitchen Repairs & Maintenance Uniforms
(252.35)
240.76
200.00 350.00
Licences
266.10
83.90
Commissions
3,606.77
(1,308.53)
2,298.24
2
Page:
Date: 18/10/2017
Quorn Grange Hotel
Time: 10:46
Profit & Loss by Department (Advanced Budget and Variance)
All
Period From:
2017 Month 9, September Year:
Department:
Period To:
Month 9, September
Chart of Accounts: Detailed Layout of Accounts
Actual
Budget 6,436.53 8,582.04
Variance
Rates and Insurance Heat, Light and Power
5,874.53 5,050.66
562.00
3,531.38
Unpaid Bills Staff Drinks
0.00
30.00 22.50
30.00 75.00 50.00
52.50
Travel Expenses
329.80 222.12
(279.80)
Management Allowances Hotels & Subsistence Telephone & Internet
177.88
400.00
0.00
50.00
50.00
(1,135.17)
1,735.17
600.00 750.00 250.00 600.00
Professional Fees
225.00 170.77 519.45
525.00
Flowers & Xmas Decorations
79.23 80.55 85.00
Waste Management
Pest Control
0.00
85.00
Card Processing Charges
1,165.39 6,485.51
(165.39) (485.51)
1,000.00 6,000.00
Depreciation
Staff Training & Support
0.00
175.00
175.00 550.00
TV Subscriptions
716.93
(166.93)
Gifts
0.00
10.00
10.00
Donations
4,000.00 2,211.33
(4,000.00)
0.00
GFTU Salary Contribution
138.67 390.15
2,350.00
Directors Expenses
59.85
450.00
Bank Charges Till Variances
233.33
(233.33) (65.87)
0.00
85.87
20.00
50,950.05
53,919.26
2,969.21
Net Profit (Loss):
5,182.56
4,336.51
9,519.07
Quorn Grange Hotel HOTEL OCCUPANCY 2017
JAN FEB MAR APR MAY JUN JUL AUG SEP TOTAL (YTD)
Available Rooms
1,178
1,064
1,178
1,126
1,178
1,140
1,178
1,178
1,140
1,153
Occupancy 2016 Actual 2017 Actual 2017 Budget
44% 56% 54% 65% 68% 68% 68% 61% 73% 59% 62% 65% 74% 70% 79% 77% 69% 82% 55% 58% 60% 65% 68% 68% 70% 74% 72% 4% 4% 5% 9% 2% 11% 7% -5% 10%
63% 91% 65% 26%
Variance
Rooms Sold 2016 Actual 2017 Actual 2017 Budget
506 691 636
600 655 617
609 771 707
729 842 741
767 766 788 699 833 825 900 909 809 933 801 775 825 872 821
711
1048 746 40%
Variance
9% 6% 9% 14% 3% 16% 10% -7% 14%
Average Room Rate 2016 Actual
61.7 61.2 61.0
62.8 65.7 62.0
65.6 62.3
58.0 55.0 66.5 60.0 63.9
62.2 82.1 66.3 24%
2017 Actual 2017 Budget
63.8 61.9 63.87 63.15 65.13 63.34 66.52
65.0 66.0
66.0 66.0 66.0 66.0 70.0
Variance
0.2% 6% -2% -6% -3% -4% -1% -4% -5%
Quorn Grange Hotel HOTEL OCCUPANCY 2017
JAN FEB MAR APR MAY
Available Rooms
1,178
1,064
1,178
1,126
1,178
Occupancy 2016 Actual 2017 Actual 2017 Budget
44% 56% 54% 65% 68% 59% 62% 65% 74% 70 55% 58% 60% 65% 68% 4% 4% 5% 9% 6932%
Variance
Rooms Sold 2016 Actual 2017 Actual 2017 Budget
506 691 636
600 655 617
609 771 707
729 767 842 825 741 801
Variance
9% 6% 9% 14% 3%
Average Room Rate 2016 Actual
61.7 62.8 65.6 62.3 58.0 61.2 65.7 63.8 61.9 63.87 61.0 62.0 65.0 66.0 66.0 0.2% 6% -2% -6% -3%
2017 Actual 2017 Budget
Variance
QUORN GRANGE HOTEL
REVIEW OF ACCOUNTS AS AT Sep 30, 2017
Accounts Review- Hotel
QUORN GRANGE HOTEL SUMMARY
Sep
YTD -Sep
YTD - Aug
Hotel
Hotel
Hotel
£
£
£
Net Profit/(loss)
9,519
(111,160)
(120,679)
Adjust for Expenses not budgeted: Gift Aid GFTU
4,000
36,000
32,000
Trading Profit/(Loss) Budgeted Profit/(loss)
13,519
(75,160)
(87,539) (1,026)
5,183
4,157
The hotel occupancy for January through to September in comparison to budget and to 2016 can be summarised as follows:
Quorn Grange Hotel HOTEL OCCUPANCY 2017
JAN FEB MAR APR MAY JUN JUL AUG SEP
Available Rooms
1,178
1,064
1,178
1,126
1,178
1,140
1,178
1,178
1,140
Occupancy 2016 Actual 2017 Actual 2017 Budget
44% 56% 54% 65% 68% 68% 68% 61% 73% 59% 62% 65% 74% 70% 79% 77% 69% 82% 55% 58% 60% 65% 68% 68% 70% 74% 72% 4% 4% 5% 9% 2% 11% 7% -5% 10%
Variance
Rooms Sold 2016 Actual 2017 Actual 2017 Budget
506 691 636
600 655 617
609 729 771 842 707 741
767 766 788 699 833 825 900 909 809 933 801 775 825 872 821
Variance
9% 6% 9% 14% 3% 16% 10% -7% 14%
Average Room Rate 2016 Actual
61.7 61.2 61.0
62.8 65.7 62.0
65.6 62.3 58.0 55.0 66.5 60.0 63.9 63.8 61.9 63.87 63.15 65.13 63.34 66.52 65.0 66.0 66.0 66.0 66.0 66.0 70.0
2017 Actual 2017 Budget
Variance
0.2% 6% -2% -6% -3% -4% -1% -4% -5%
Turnover & Gross Profit
The total turnover for the hotel is £4.2k higher than budget for Sep 17 and (£8.1k) below year to date.
Occupancy is 10% higher the budget. The average room rate 5% lower than budget.
The Hotel recorded a Net Profit of £13.5k for Sept and (£75.2k) loss YTD after adjusting for the GFTU Gift Aid.
Hotel Costs vs Budget
The following summarises the main YTD cost variances for discussion Wages & Salaries Wages & Salaries (34.7k) higher than budget YTD. (4.3k) higher for the month of Sept 17 Cleaning & Laundry Cleaning & Laundry YTD favourable variance of £7.7k Marketing The Marketing costs are £22.2k below the budget as Tim is trying to keep all the cost under control. Garden Expenditure Garden Expenditure Costs are (£6k) higher than budget for YTD. The budget for Garden expenditure does not include Alison’s salary who left in Jan 17. New Gardeners invoices go under this code hence garden costs are likely to be higher than budget in next coming months. In September 17 garden expenditure included an unexpected cost to clear away fallen branches of cedar due to high winds Rates & Insurance Rates & Insurance costs are in line with the budget for Sept 17 Commissions Due to increase in occupancy the commissions are (£6k) higher than expected YTD Heat, Light & Power Heat Light & Power costs are £3.5k lower than the budget for Sept and £9.8k lower than budget YTD. Donation Hotel pays £4k to GFTU on monthly basis as a gift aid. There was no budget for this item. IT Expenses are overspent by (£12.8k) for YTD this is partly due to IT issues that Hotel had been facing i.e. final rewiring & cabling works, Entegraty SLA and Installation of 2 new cameras Repairs & Maintenance Repair & Maintenance overspent by (£4.2k) due to costs incurred such as fire extinguisher maintenance, pat testing and room maintenance items such as bulbs. However Kitchen Repairs & replacement underspent by £2.4k compare to YTD Telephone & Internet Telephone & internet costs are higher than budget by (£3.1k) YTD. GFTU and Nursery reimbursed Hotel for their share of BT fibre broadband bills thus £1.1k credit in the month of Sep 17. Kurdish Festival There is a credit of £6k in Sep month as ET has subsided for Kurdish festival deficit. GFTU Salary Contribution GFTU Salary contribution is in line with the budget. Professional fees Professional fees are in line with the budget for Sept 17 IT Expenses
GFTU Management Accounts YTD Sep 2017
Budget YTD Sep 17
Actual YTD Sep 17
Variance
Notes
Income source
Accounts Processing Services
35,250 27,390 13,695
33,180 25,206 10,800
(2,070) For shared services provided
Recharge for services provided- QGH Recharge for services provided- QGN
(2,184) Recharge for services provided- QGH: Monthly Wendy, Ian & Nila charges (2,895) Recharge for services provided- QGN: Monthly Wendy, Ian & Nila charges
Contribution is for full year.
Contributions
120,000
192,227
72,227
Sponsorship/Commission
0
0
-
Investment Income -TU Unit Trusts Investment Income- Zeneca Investment Income- RBS Investment Income- Unity Trust
9,000 2,625
21,715
12,715 Dividends 6,361 Dividends
8,986
0 0
-
1,321
1,321 Dividends
BM Gain 147k gain, CAM: 117.5k gain for period Jan-June 2017, Dividend: 57k, charges (48k)
Managed Investment Income BM & CAM Managed Investment Income Credit Suisse
187,500
270,000
82,500
0 0
- -
Bank Interest Received
Misc Income- intercompany recharge
7,500
(7,500)
Gift Aid-GFTU Gift Aid- Albion Gift Aid-QGH
0 0 0 0
- - - -
Customised Course Fees
Invoices raised to delegate's for hotel exps @ BGCM & invoices for raffles & auction @ BGCM
Union Confenrance Building/ BGCM Grant/Arts Festival/Spon'ship/Project
0 0
9,266
9,266
-
Credit note raised to PPF £2,501, Income Charity account £75, Oclan book 50, TC branding commsion £600 & Donation £50, £85 from books
Other Income
0 0
-1,517
(1,517)
Extra Ordinary Income
Total income
402,960
571,184
168,224
Expenditure Staffing Salary
73,097 27,174
96,339 27,286
23,242 Staff salaries have been split between GFTU & ET
Salary for shared Service
112
Pension
0 0
7,052
7,052
Redundancy & Severance
0
-
Staff Welfare
645
985
340
Essential Car user Allowance
3,375 1,125
3,375 1,164
-
Staff Travel and Subs
39
Staff Travel shared Service
0
0
-
GS Travel HOE Travel
825
1,544
719
0
0 0
-
Other employment costs Training and development
375
(375)
0 0
- -
Agency
0 0
Pensions Recovery Payments
52,500
(52,500)
Pension Scheme Cost
0 0
- -
Pension prior year adjustment
Total
159,116
137,745
(21,371)
Premises Rent and Rates
225
1,490
1,265
Repair and maintenance
75
192
117
Utilities
600
1,681 1,298 -1,621 4,376
1,081
Health and Safety
0
Fire Risk Assessments / Fire Marshal Training (28 Delegates) in Jan 17
Insurance
375
(1,996) Insurance recharge to PCS members
Depreciation
5,400
(1,024)
0
Total
6,675
7,418
743
Administration Stationery, Postage Courier & delivery cost Telephone & mobile IT, website, maintainence
1,200
156
(1,044)
0
525
648
123
1,636 Sage monthly fee, Tony Jonson fee, Domain renewal fee
2,250 1,500
3,886 2,676
1,176 Used KM Bizhub 654 Mono Copier charge
Printing & Copying Office relocation
0 0
Total
5,475
7,367
1,892
Management fees Executive Committee Expenses Conference expenses (BGCM/EC)
(7,302) EC Members - Rail Fare + Parking + Mileage +Fixed Expense Allowance
12,750 13,500
5,448
22,825 BGCM expenses
36,325
TUC expenses 23.5k ,Gifts for Chinese Delegates in Jan 17, Ben Marshall gift & other expenses
Conference expenses (other)/Speakers
7,500 3,150 3,000
23,805
16,305
Accountancy and audit
3,346
196
Legal & Profession DDA Compliance
0
(3,000)
0
-
Investment management fee
33,750
(33,750)
Pension scheme levy
2,250 3,750
1,476 1,800
(774)
Pension scheme audit and accounts Pension scheme legal & professional
(1,950)
(1,829) Mercer monthly fees
30,000
28,171
Total
109,650
100,370
(9,280)
Programme and Event Gift Aid Payment/Grants
75,000
(75,000)
Donation £750 , Affiliations £3,115 (ICTUR, NPC, Venezuela Solidarity, Campaign for Trade Union Free, Justice for Colombia), The Bread and Roses and Little Rebel Awards 1k
Affiliations, Donations, Subscriptions, Communications & Campaigning
7,500 9,750 3,000 1,500
4,865
(2,635) (9,750)
3,075 75 Catalogue of GFTU related Logos, Organisation Chart Update + Artwork
Advertising and promotion
Room hire
0
(1,500)
3,284 3,284 Organisational Charts £170 , A new deal for Britain Leaflet £718 , Rebuild and Transform Britain Brochure £2,228 , Photographic Reproduction License - Our History Our Future £168
Publicity leaflets
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Educational officers' meeting
Tutors' meeting
International Study Visit
Youth Festival History Festival
Arts & Cultural Festival
Other events
Open College Network Panel Fees+Membership
E learning
Union Confenrance Building
Links with Universities
Core Course -Student hotel & Travel
Core Course - Tutor Fees
Core Course - Tutor Travel & Sub
Core Course- Resource, books, printing, certificates
Customised Course- Tutor fees
Customised Course- Tutor Travel and sub
Customised Course- Resource, books, printing, cert.
Bank charges Miscellaneous
150 225
749
599
72
(153)
P&L Sale of asset
0 0
0
-
Total
97,125
12,045
(85,080)
Management recharge
Total Expenditures
378,041
264,944
(113,096)
Surplus/deficit before Capital Expenditure
24,920
306,240
281,320
GFTU General Federation of Trade Unions Balance Sheet
YTD Sep 17
Fixed Assets Office Equipment Motor Vehicles
20,164
-
Investments
6,128,367
6,148,530
Current Assets Debtors Intercompany
75,074
1,740,101
Bank Account
166,540
1,981,715
Current Liabilities Creditors: Short Term Taxation (PAYE /NIC
1,171,838
19,667 14,226
Wages (Pension)
1,205,731
Current Assets less Current Liabilities:
775,985
Total Assets less Current Liabilities:
6,924,515
Long Term Liabilities
Total Assets less Total Liabilities:
6,924,515
Capital & Reserves Reserves
6,618,275
P&L Account
306,240
6,924,515
For enquiries regarding this statement please contact:
core.clients@lgim.com
Scheme Name Policy Number
32077-0/000
GFTU Pension Scheme
One Coleman Street London EC2R 5AA
020 3124 3277 Telephone: 020 7634 0889 Facsimile:
Valuation of Unit Holdings for Weekly Priced Funds on 02 October 2017 at Weekly Close
Unit Valuation
Unit Price Bid (p)
Bid Value (GBP)
Unit Price
Mid Value (GBP)
Unit Price Offer (p)
Offer Value
ID Fund
Total Units
Mid (p)
(GBP) % at Mid
257,181.82 302,755.52 2,196,358.56 569,890.33 551,239.43
165.1650 142.9790 220.9380 770.3190 145.1120
424,774.35 432,876.81 4,852,590.68 4,389,973.49 799,914.56
165.3410 143.1650 221.4930 770.8560 145.4290
425,226.99 433,439.94 4,864,780.47 4,393,033.80 801,661.99
165.5790 143.4030 222.3070 771.3930 146.0750
425,839.09 434,160.50 4,882,658.82 4,396,094.11 805,223.00
3.89 3.97
GPBE - All World Equity Index
GPBF - All World Eqty Indx GBP Hedged EB - Invt Grade Cp Bnd All Stks Ind
44.56 40.24
AP - Over 5y Index-Linked Gilts MAAC - Dynamic Diversified Fund
7.34
10,900,129.89
10,918,143.19
10,943,975.52
100.00
Total (GBP)
Prices are based on the value of the underlying securities at close of business on 29 September 2017. Activity for this pricing date is included in this valuation. The mid price may be different to the average of the offer and bid prices because of unequal bid/offer loadings. Notes:
Legal & General Assurance (Pensions Management) Limited Registered in England No. 1006112 Registered Office: One Coleman Street, London EC2R 5AA
All funds are sections of the Legal & General Assurance (Pensions Management) Limited's pooled fund policy, an insurance policy, except for the funds designated "CCF". These are sub-funds of the Legal & General North America CCF, an open-ended umbrella common contractual fund. 22990295/1
Page 1 of 1
We may record and monitor calls.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Aut
ET Management Accounts YTD Sep 17
Budget YTD Sep 17
Actual YTD Sep 17
Income source
Variance
Notes
Accounts Processing Services
- - -
Recharge for services provided- QGH
Contributions
1,100 AEP Donation 1k
Sponsorship/Commission Bank Interest Received
1,100
- -
Misc Income- intercompany recharge
-
Gift Aid-GFTU Gift Aid- Albion Gift Aid-QGH
75,000
(75,000)
-
- -
Hotel contributions to ET
36,000 36,000 45,375
36,000 32,000 64,213
(4,000) Nursery contributions to ET 18,838 All courses are held for TSSA
Gift Aid-QGH Nursery Customised Course Fees
Core Courses
-
-
Trade Union Management Programme Grant/Arts Festival/Spon'ship/Project
15,000
-
(15,000)
-
-
Poland OPZZ £4,141, Ethical Shop Commission £97, Nursery recharge DBS check £172, Stripe £1,225.77
Other Income
- -
6,730
6,730
-
Total income
207,375
140,043
(67,332)
Expenditure
Staffing Salary+ NIC+Pension
177,950
119,426
(58,525)
Redundancy & Severance
- -
-
-
Staff Welfare
50
50
Staff Travel and Subs
1,800 1,125
2,627 1,125 5,600
827
Essential Car user Allowance
-
GS Travel HOE Travel
375
5,225
3,300
-
(3,300)
Leicester Mercury Job advertise charges & Sian Moore expenses
Other employment costs- Agency
-
1,021
1,021
760 Ana & Shamil AAT course & exam fees£2,034, First Aid Training £160, Wendy training £65
Training and development
1,500 3,000
2,260
Agency
(3,000)
Pensions Recovery Payments
- -
-
Staffing total
189,050
132,108
(56,942)
Premises Rent and Rates
1,125
-
(1,125)
124 Oil Radiator & Toilet Seat
Repair and maintenance
188
312
Utilities
2,400
82
(2,318)
Health and Safety
-
-
Insurance
975
1,210
235 Includes Business Travel Insurance
Depreciation
5,400
11,509
6,109
-
-
Premises total
10,087.50
13,113
3,026
Administration Stationery, Postage Courier & delivery cost
(1,833) Postage £4,053, Stationery £2,779
8,667 1,667
6,834
(1,667)
This includes monthly charges Jan-sep 17 £5,251 & yearly maintenance contract charges £1,050 Sage Payroll cover & Online support, ACT annual subscription, Flipping page Licence, Adobe monthly fee, Recharges been done to Hotel & nursery for their propotions
Telephone & mobile
2,333
6,301
3,968
IT, website, maintainence
6,000 1,000
2,368 1,066
(3,632)
66 Konica Minolta - Monthly Meter Charge
Printing & Copying Office relocation
- -
-
Administration total
19,667
16,569
(3,098)
Management fees Trustees Expenses
2,250 6,000 1,500 7,500 1,500 1,500
1,759
(491)
Conference expenses (BGCM/EC) Conference expenses (other)/Speakers
(6,000) (1,500)
-
499 Accrual for accountancy & audit fee Jan-Sep 2017
Accountancy and audit
7,999 1,536
Legal & Profession DDA Compliance
36
(1,500)
Investment management fee Management fees total
-
-
20,250
11,294
(8,956)
Programme and Event Gift Aid Payment/Grants
3,750
-
(3,750)
London Recruits Film Project Donation £1000, Hazard Sponsorship £300 540 Journalistic Feature £300, 3 Days of Fred Wisdom's time working on the Song Book £240 162 Design of Full Colour A5 Leaflet marketing the Ethical Shop, New Statesman Feb 2017, Seminar fee for Doug (Westminster Business forum)
Affiliations, Donations, Subscriptions,
6,000
1,300
(4,700)
Communications & Campaigning
-
540
Advertising and promotion
1,875
2,037
Room hire
-
-
-
GFTU Education Course Brochures, Your Right at Work - A TUC Guide 5th Edition , Liberating Arts Festival Leaflets & Flyers, Photographic Repro - Education for Action April 17-July18, Education Leaflets
Publicity leaflets
11,250
10,204
(1,046)
Educational officers' meeting
1,875
878
(997) EC Meeting, Education Officers Interview
Tutors' meeting
938
(938)
International Study Visit
7,500
-
(7,500) (9,304)
Youth Festival History Festival
15,000
5,696
-
-
Arts & Cultural Festival
9,000 7,500 2,250
9,175
175
ESNA Visist Other events
-
(7,500)
5,168 Kurdish Festival & Liberting Art
7,418
Open College Network Panel Fees+Membership
-
-
E learning
11,250
(11,250) (5,250)
Trade Union Management Programme
5,250
Links with Universities
-
-
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