Watlington Memorial Club AGM 25 Sept 2014
Dec 28, 2015
Committee Dave Parkes - Vice-Chair Graham Smith – Treasurer Helen Batten – Secretary George Bruce – Bowls Chair Mike Staples – Tennis Chair Howard Griffiths – Squash Chair Pam Mundy – General committee Robin Holmes Smith – General committee Paul McKnight – General committee Chris O’Sullivan – General committee
Agenda1. Apologies for Absence2. Minutes of AGM 26th September 20133. Matters Arising4. Chairman’s Report 5. Treasurer’s Report and 2014 Accounts6. Update on change of status to Charitable
Incorporated Organisation7. Section Reports8. Any other business9. Date of 2015 AGM
Achievements Good progress made on transition to a Charity
Commission CIO – further info to follow New name of “The Watlington Club” approved as of
1st Jan 2015 Project to look at club maintenance resulted in the
following: We decided to outsource this to professionals Spoke to four companies and awarded a 1 year contract
to maintain and manage the main club building only Best protects valuable club assets Avoids unnecessary accidents and repairs Uses local suppliers and existing partners
Achievements (cont.) No 18 - 4 bed flat full refurbishment completed at a
cost of £22k Performanze dance school moved into old Snooker
room and 5 year lease agreed Music & Travel signed new 5 year lease for
business offices Cloud based document storage and tracking
implemented for all committee members Rear wall repairs finally funded and completed New website launched
Current priorities Many issues with main club roofing mean that we
need to undertake major repairs and maintenance We need to raise funding or get grants to
accelerate maintenance and growth plans Business development plan in place to increase
revenues and membership levels One flat and two offices are currently empty and on
the market Membership process being reviewed with plans for
new on-line system and payments
Current priorities (cont.) We need to get younger members and reach out to
the wider community – suggestions welcome! Development of links to school, councils and other
public bodies Function room under utilised – any ideas? First Facebook page in draft and will launch in line
with new name
Committee vacancies
We need to recruit a Relationship/Alliance specialist to optimise links to councils, school and other public bodies
We need to recruit a Marketing specialist to optimise branding/advertising/PR
We need your help to find local people with these skills!!
Overview of audited accounts Hard copies of our complete accounts are available
today but I would just like to go through the key points in this presentation
These Accounts are for the year ended - 31st March 2014
Our accounts contain two sets of numbers One for the main club One for the whole charity including sections
Three years of financial data are shown for comparison
Independent Examiners Report - Page 1
This is confirmation from our auditor that the accounts have been examined by him and that they are a true and fair view of the financial status of the charity.
He can only formally sign them once they have been approved today signed by the Trustees
I have written confirmation that he has completed his review and will sign them after they have been approved at this meeting
Main Club – Profit and Loss - Page 2
Income The biggest worry is the continued reduction year on year
(this year caused by the shop and flat at no.18) Expenses
£33k on maintenance & renovation (previous year £12k) – refurbishment of flat 18 and 20 (£25k) and roof (£4k)
Loss for year of £7k – first one in five years but we are investing for future
2014 2013 2012
Income 54,630 56,972 58,848
Expenses 61,908 51,712 43,704
Operating Profit/(Loss) (7,278) 5,260 15,144
Main Club – Balance Sheet – Page 3
2014 2013 2012
Fixed assets 245,897 245,897 245,897 Cash 7,591 10,325 10,277 Debtors 48 5,008 3,992 Total 253,536 261,230 260,166 Creditors 3,859 4,275 8,471 Reserves 249,677 256,955 251,695 Total 253,536 261,230 260,166
Assets
Liabilities
Assets Despite losses we still have cash in the bank Rental debtors are all cleared
Liabilities Creditors at normal level since mortgage paid off in 2012
Charity – Profit and Loss – Page 42014 2013 2012
Income 81,584 87,015 90,465
Expenses 92,550 85,222 71,223
Operating Profit/(Loss) (10,966) 1,793 19,242
Income Again, the biggest concern is the continuing reduction year
on year but as discussed previously, we have plans to reverse this
Expenses £46k on maintenance & improvements (previous yr £25k) Tennis – new table tennis table and petanque - £3k Squash – low energy lighting - £4k Bowls – lawn mower – £5K
Charity – Balance Sheet – Page 52014 2013 2012
Fixed assets 322,716 328,406 316,096 Cash 99,264 98,040 112,607 Debtors 483 5,365 4,052 Total 422,463 431,811 432,755 Creditors 12,669 11,051 13,788 Reserves 249,678 420,760 418,967 Total 262,347 431,811 432,755
Assets
Liabilities
Assets Despite losses our cash reserves have increased
Liabilities Creditors at normal level
The whole Charity does have money but we need to spend large sums to bring our facilities up to standard in order to generate more income to safeguard our future
Notes to Accounts – Pages 6 to 9
Accounting policies This is the basis on which are accounts are prepared
Main Notes 2 and 3 Fixed assets 4 - analysis of debtors 6 LTA loan – interest free 7 – analysis of creditors 13 – insurance valuation of £3.5m
Questions & Vote
Any Questions?
VoteTo approve our Financial Statements for the year to March 2014 and authorise Trustees to sign them
Financial Controls & Thank You We have put in place controls to safeguard our
assets (cash) and financial future All cheques need two signatures Detailed monthly accounts produced 3 year cash forecast updated every month
We endeavour to pay all supplier within terms I would like to thank the section treasurers for their
continued support and for making my life easier Tennis – Ken Squash – Pam Bowls - Peter
CIO Transition to a Charity Commission CIO approved
unanimously at special meeting on 24th July 2014 During the detailed application stage it was clear that
our current governance/constitution was insufficient. The process of moving to a standard CIO has
already improved the way we will run the charity All Trustees of the CIO will need to sign a ‘Trustee
Declaration’ Our CIO will have a policy on safeguarding ‘Vulnerable
Children’ Our application was submitted on 8th Sept 2014
CIO - Timetable Approval for CIO Nov
2014 Open new CIO bank account Dec
2014 Launch of New Charity Jan
2015 Transfer assets/leases from existing Charity Feb
2015 Notify suppliers of changes Feb 2015 Dissolve existing charity Mar
2015