Profit and Loss
Gravesham Sports Trust
Date Range: Apr 01, 2023 to Mar 31, 2024 Report Type: Accrual (Paid & Unpaid)
| ACCOUNTS | Apr 01, 2023 to Mar 31, 2024 |
|---|---|
| Income | |
| Bank interest | £816.40 |
| Sales | £31,318.00 |
| Total Income | £32,134.40 |
| Total Cost of Goods Sold | £0.00 |
| Gross Profit | £32,134.40 |
| As a percentage of Total Income | 100.00% |
| Operating Expenses | |
| Bad debts | £175.00 |
| Bookings manager | £5,400.00 |
| Depreciation | £7,384.43 |
| Insurance – Property | £2,192.91 |
| Miscellaneous | £75.00 |
| Rent Expense | £12,000.00 |
| Repairs & Maintenance | £1,883.62 |
| Tools and equipment | £1,261.85 |
| Utilities | £4,471.17 |
| Total Operating Expenses | £34,843.98 |
Profit and Loss - Gravesham Sports Trust Date Range: Apr 01, 2023 to Mar 31, 2024
Created on Dec 10, 2024 Page 1 / 2
Net Profit As a percentage of Total Income
-£2,709.58 -8.43%
Profit and Loss - Gravesham Sports Trust Date Range: Apr 01, 2023 to Mar 31, 2024
Created on Dec 10, 2024
Page 2 / 2
Balance Sheet
Gravesham Sports Trust
As of Mar 31, 2024
Report Type: Accrual (Paid & Unpaid)
| ACCOUNTS | Mar 31, 2024 |
|---|---|
| Assets Cash and Bank ~~a~~ |
|
| Lloyds current | £19,537.67 |
| Virgin savings | £36,238.85 |
| Total Cash and Bank | £55,776.52 |
| Other Current Assets Accounts Receivable £2,367.00 ~~ee~~ |
|
| Total Other Current Assets | £2,367.00 |
| Long-term Assets Total Long-term Assets £0.00 ~~ee~~ |
|
| Total Assets | £58,143.52 |
| Liabilities Current Liabilities ~~ee~~ |
|---|
| Accounts Payable £680.83 |
| Total Current Liabilities £680.83 |
| Long-term Liabilities Total Long-term Liabilities £0.00 ~~ee~~ |
| Total Liabilities £680.83 |
Balance Sheet - Gravesham Sports Trust As of Mar 31, 2024
Created on Dec 10, 2024
Page 1 / 2
| Equity | |
|---|---|
| Retained Earnings | |
| Profit for all prior years | £16,690.78 |
| Profit between Apr 1, 2023 and Mar 31, 2024 | -£2,709.58 |
| Trust reserves | £43,481.49 |
| Total Retained Earnings | £57,462.69 |
| Total Equity | £57,462.69 |
Balance Sheet - Gravesham Sports Trust As of Mar 31, 2024
Created on Dec 10, 2024
Page 2 / 2
Trustees Annual Report 2024
Gravesham Sports Trust continues to meet on a regular basis to review the management and up keep of the Astro Turf Pitch in the Borough of Gravesham.
The pitch continues to be hired out to a variety of different users, including the three ‘home’ hockey clubs, the local Grammar school, numerous football clubs (for training purposes) and also for community events and one-off uses.
The profit and loss statement shows a net loss of £2,700 for the year. This is principally due to the long-term assets being fully depreciated during the year. Excluding the depreciation the underlying income and expenses were largely comparable to the prior year. Bookings for the pitch remain strong over the winter for the seasonal sports such as Hockey and Football. During the summer season there is still good availability, and we are looking at increasing the usage by hiring out to local clubs / schools etc. We continue to look at ways of enhancing the pitch for current and future hirers, looking at the cost benefits of installing LED lights, seating for match officials as well as new surround fencing.
The balance sheet remains strong with a tight control over outstanding debtors and we continue to grow the reserves for future pitch renewal.