Page 25 - BPW-UK ANNUAL REVIEW 2023-2024

Again, I have thoroughly enjoyed my role as Treasurer these last 12 months and particularly
working with Judith Leggat who continues to support me compiling the spreadsheets that sit
behind our figures.
We took the decision to simplify the accounting approach this year and following consultation
with our Accountant Alexander Bell of Studholme-Bell we got agreement to make the changes
from the Federation Executive Committee and the Governance Working Group. Therefore, we
will no longer be reporting potential debtors/prepayments for membership fees and affiliation
fees to BPW International/BPW Europe paid in advance or insurance that might be refunded
should we cancel the policy. We also wrote off £70 of stock that had been carried for many
years. However, we do have BPW Europe as a Creditor for the £50 profit that was made on the
sale of their scarves and pins. This will be paid to them at a later time.
In summary the accounts for BPWUK show a total income of £16,514 and expenditure of
£17,425 resulting in a deficit of £911. The increase in these overall figures, compared to last
year, is due the financial transactions of our face-to-face UK Annual Conference monies going
through the bank account. I will provide details regarding the Annual Conference in a later
paragraph.

Actual subscriptions were £5,310 against a budget of £4,877. This increase is due to no longer
holding membership fees paid in advance as potential refunds should a member leave through-
out the year.
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The membership as at 31 December 2023 was 80 made up of 76 paying members and four
‘Free of Charge’ members. 11 members ceased to be members during the year and four new
members joined. We have two ‘Friend Of’ supporters.
The overall deficit of £911 is considerably less than what was forecast in the Budget mainly
due to us not spending as much as anticipated this year on the new enhanced website and nei-
ther the June O’Dell nor the International Awards have been applied for again amounting to
£1,500. Also, our members generously donated £663 towards the running costs of the organisa-
tion, and the FEC members did not claim expenses of £2,676 including Conference and BPW
International President meetings. We did not hold a Members Day or YBPW event so there were
savings of £750.

A total of £164 was sent to the Members Emergency Fund.
On the expenses side our business banking fees have been minimal and with interest rates in-
creasing this has benefited our investment account at Lloyds and National Savings. We have
renewed our Zoom subscription as this is essential for our operation and Areas and Working
Groups have also made extensive use of it. We split the Inter Regional Public Speaking Champi-
onship budget of £1,500 between the two Areas (Northern Ireland & Southern, England &
Wales) holding Public Speaking heats to put towards their costs and expenses in support of the
competition. The cost of attending the 2023 BPW International Presidents’ meeting was £673
less that we budgeted for again due to our President’s generosity. We also saved £200 on the
Annual Review and a favourable exchange rate meant we saved £193 on our affiliation fees to
BPW International.

PayPal continues to be available should members wish to use it when renewing and applying
for membership which they can now do via the new website. Their fees have been more than
covered by the higher interest rates given on our other savings. Bank transfer and cheque pay-
ment remain an option of course.
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