Watlington Memorial Club AGM

25 Sept 2014

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

Apologies for Absence

Minutes of AGM 26th September 2013

Matters Arising

Chairman’s report

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!!

Treasurer’s Report and 2014 Accounts

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

Update on change of status to Charitable Incorporated Organisation (CIO

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

Section reports

Bowls – George Bruce

Squash – Howard Griffiths

Tennis – Mike Staples

Any Other Business?

End of presentation