Watlington Memorial Club
AGM
25 Sept 2014
Committee
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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
Agenda
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9.
Apologies for Absence
Minutes of AGM 26th September 2013
Matters Arising
Chairman’s Report
Treasurer’s Report and 2014 Accounts
Update on change of status to Charitable
Incorporated Organisation
Section Reports
Any other business
Date of 2015 AGM
Apologies for Absence
Minutes of AGM 26th September 2013
Matters Arising
Chairman’s report
Achievements
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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:
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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.)
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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
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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.)
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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
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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!!
Treasurer’s Report and
2014 Accounts
Overview of audited accounts
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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
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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
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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
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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
2014
2013
2012
Income
54,630
56,972
58,848
Expenses
61,908
51,712
43,704
5,260
15,144
Operating Profit/(Loss) (7,278)
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Income
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Expenses
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The biggest worry is the continued reduction year on year
(this year caused by the shop and flat at no.18)
£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
Main Club – Balance Sheet – Page 3
Fixed assets
Cash
Assets
Debtors
Total
Creditors
Liabilities Reserves
Total
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2013
2012
245,897
7,591
48
253,536
3,859
249,677
253,536
245,897
10,325
5,008
261,230
4,275
256,955
261,230
245,897
10,277
3,992
260,166
8,471
251,695
260,166
Assets
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2014
Despite losses we still have cash in the bank
Rental debtors are all cleared
Liabilities
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Creditors at normal level since mortgage paid off in
2012
Charity – Profit and Loss – Page 4
2014
2013
2012
Income
81,584
87,015
90,465
Expenses
92,550
85,222
71,223
(10,966)
1,793
19,242
Operating Profit/(Loss)
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Income
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Again, the biggest concern is the continuing reduction
year on year but as discussed previously, we have plans
to reverse this
Expenses
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£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 5
Fixed assets
Cash
Assets
Debtors
Total
Creditors
Liabilities Reserves
Total
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2012
322,716
99,264
483
422,463
12,669
249,678
262,347
328,406
98,040
5,365
431,811
11,051
420,760
431,811
316,096
112,607
4,052
432,755
13,788
418,967
432,755
Despite losses our cash reserves have increased
Liabilities
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2013
Assets
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2014
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
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Accounting policies
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This is the basis on which are accounts are prepared
Main Notes
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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
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Any Questions?
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Vote
To approve our Financial Statements for the
year to March 2014 and authorise Trustees to
sign them
Financial Controls & Thank You
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We have put in place controls to safeguard our
assets (cash) and financial future
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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
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Tennis – Ken
Squash – Pam
Bowls - Peter
Update on change of status
to Charitable Incorporated
Organisation (CIO
CIO
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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
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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
Open new CIO bank account
Nov 2014
Dec 2014
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Launch of New Charity
Transfer assets/leases from existing Charity
Jan 2015
Feb 2015
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Notify suppliers of changes
Feb 2015
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Dissolve existing charity
Mar 2015
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Section reports
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Bowls – George Bruce
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Squash – Howard Griffiths
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Tennis – Mike Staples
Any Other Business?
End of presentation