1. 2015/16 Provisional Profit & Loss Statement
Financial Report
2015/16 Provisional Profit & Loss Statement
Safeguarding Standards in Educational Travel

2. Safeguarding Standards in Educational Travel
Income
Key Points:
Total year on year increase of almost £9.9k
Income from member fees increased by £12.9k
Income from other streams are down by £2.9k
The STF finances continue to be in good shape…
…with total income increasing by almost £10k to over £117k
The driving force behind that continues to be membership growth.
3 new assured members in this financial year.
Seeing full year effects of 8 assured members who joined in 14/15 with prorated fees.
There has been a £2.9k reduction in income from the various member benefit schemes….
…however, those schemes are designed to break even so the reduction in income is offset by a corresponding reduction in expenditure.
Safeguarding Standards in Educational Travel

3. Safeguarding Standards in Educational Travel
Operating Costs
Key Increases:
Marketing PR & advertising up £3.1k to £17.3k
Website costs up £7.5k to £8.6k
Key Decreases:
GM appointment costs down £11k to £0
TCUK Shared Audit Costs down £7.2k to £2.7k
£20k underspend vs 2015/16 budget
Total operating costs are almost exactly the same at £105k.
There have actually been quite a lot of one off costs in the last two years but they have effectively netted off against each other.
Standard operating costs have remained largely the same.
I've highlights a few of the bigger increases and decreases on the slide.
Worth noting that we were budgeting to spend around £20k more than this.
Some of this underspend is timing differences with some marketing and PR activities originally scheduled to take place in 15/16 are actually going to fall into the start of 16/17 financial year.
Gill and Kate have been very good at negotiating and being frugal!
Safeguarding Standards in Educational Travel

4. Safeguarding Standards in Educational Travel
Surplus / Loss
Key Points:
Healthy £12.3k surplus
Trading within our means
Ultimately we have delivered a healthy £12.3k surplus.
Safeguarding Standards in Educational Travel

5. Safeguarding Standards in Educational Travel
Reserves
Key Points:
Reserves continue to grow
Reserves almost equivalent to 12 months membership fees income
Very healthy position
The cash reserves continue to grow.
They now represent almost 12 months worth of income from membership fees.
So ultimately, the finances are in a good, strong position and with a number of one off spends being paid for during the last couple of years we will in a position to further increase spend in areas such as marketing and PR going forward if we so wish.
Does anyone have any questions?
Safeguarding Standards in Educational Travel