FEDORA's sources of income are membership subscriptions with the donations that some supportive residents add on, plus modest revenues from advertising in our twice-yearly magazine. Since inception, all excess funds have been re-invested in the village, often by way of donations to specific projects. Now that FEDORA has been registered as a Community-Interest Company, one of our legal obligations is to reinvest all funds in the community.
FEDORA needs to husband its resources to pay for expert advice on matters such as the road network and improvements, planning matters, etc. and to pay for contractors and supplies for works around the village. We have very limited funds available to donate to worthwhile causes in the Village. As an example, a lot of the bulb-planting around the Village over the past 3 years has been paid for not by FEDORA, but with funds remaining from the Oxshott Village Day which had been started with seed-funding from FEDORA.
Over the years, the organisation managed to accumulate a modest reserve of funds. Upon incorporation, all the assets of the unincorporated FEDORA were transferred to the incorporated organisation using a legal Deed of Transfer, which can be made available upon request. The closing financial statements of the unincorporated FEDORA were presented to the AGM on 30th September 2021, and can be downloaded here.
Going forwards, the incorporated FEDORA has to comply with Company Law and with its Articles of Association with regard to financial reporting. The first financial statements will be for the period up to 31st December 2021, and are due to be filed at Companies House by 2nd September 2022.