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LONDON TAXIDRIVERS' FUND FOR UNDERPRIVILEGED CHILDREN

HON. TREASURER'S REPORT

2010 - 2011

 

 Hon. Treasurer, David S. Lessman 

 Hon. Treasurer, David Lessman

 

As predicted, the past twelve months have proved to be no easy time for all Charities, but the LTFUC has survived and will continue to survive, thanks to the generosity of its many benefactors.  Generated income was less than 50% of the previous year and, although the total expenditure was also considerably less, reserves have been held to a reasonable level.  Grants were made to several deserving causes, including computers and equipment exceeding 9000 to the Joseph Clarke School for blind children and Christmas vouchers to the value of 1800 to the dependants of taxi drivers no longer able to provide for their family.  The third fun day at Covent Garden raised some much needed funds, though kinder weather would have helped and although the concert held in December at St. John's Smith Square did not raise as much as was hoped, those who attended enjoyed an extremely entertaining evening.

 

Thanks to a very generous taxi rider who kindly donated many of the toys and gifts for the party at the Grosvenor House, costs were significantly lower than the previous year.  There was no Spring outing this year, so we were able to save what was spent on the Woburn event of last year, but the major saving in this year's accounts can be found in the trip to Southend.  By revising the way the outing was catered, we were able to make a substantial saving on 2010 costs and we were also able to negotiate with Southend Council to reduce their charges.  Furthermore, an extremely productive sponsorship campaign increased our income over the previous year.

 

Though total income for the year was under 20000 and the total expenditure for the year was a little over 32000, our reserves have carried us through the year.  However, with only 173 spent on general administration, we can be justifiably proud that this figure of less than 1% of generated income reflects the unstinting commitment of the trustees of the charity.

 

David S. Lessman

(Hon. Treasurer)