Worthys Youth Football Club- Certlfied Financials 202012021 INCOME 2020121 SEASON EXPENDrtURE 2020121 SEASON Matrh 5ubxn.ps: 31,3(B. GrwThJlPchttraining Hire: 10,302.5 rtIng SubscriONMIS: RefweelAs95tsnt ftefe Eynses.. 1,775.5 ignirmJ Fees: undraigng & S1nSh).. AffifotK>n & Entra[ Fees.. 3510.7 Intuest Rve0.. & EquiwTEnt {inG First AAI).. 8,233. ket Sal&: & ETrgrnng.' 1,757.3 lub Merchandise: 10.73 Pts1)n EvW15/tJInner Dar.. Mixdhn&>Js R.S gNe deiaiLs).' ub knhanrte.. m1xdknuS nses OTAL INCOME: £35,8.5 TOTAL EXPENDrruRE: £25,579.6 sigrd on 20th Juty Reserves brought forward Current season Reserves carried fcThard E25,853.74 EIO,228.90 £36,082.64 Treasurer- Andrew Hepworth Auditor- James Matshall R•& Co¢retary. Aaron Brown Co4e¢retary. Matthew Russell
èAL WORTHYS YFC TREASURER'S REPORT 2020 21 SEASON SUMMARY The club has closed its financial year on the ioth of July 2021. MAIN FINANCIAL poIKrs The club aims to run a balanced budget and for last season we dosed with net reserves of £36.083. which is an increase of on last yearfs reserves of £10.229. a very strong year, which sets us up very well for the coming season. The season was significantly disrupted by Covid restrictions which meant we had a total shut down of all football related activities from January to March but an extension to the end of June so most teams could finish the season. This meant that where we had less training time in the winter {a significant cost for the clubl and more in the summer, which meant we attually finished the season in a stronger financial position than expetted {+£14,7491. Included in this was last season's decision to reduce annual memberships from £140 to £ICKi as a one off due to reduced playingtime in 2019120 season. Revenue is broadly where we were expecting it to be at £35.858. but down on last season due to reduttion in annual membership fees. We have seen a significant decrease in sponsorship and funding from grants to this season as we haven't invested heavily in goals/equipment which these grants are attached. Costs for the season finished at £25,629 which is below budget and significantly below last year due to one off investments in roll on goals in 2019/20 not repeated and the already mentioned reduttion in winter training costs. A few highlights from this year- l. Membership fees decreased due to reduction in annual membership fees from £140to £100 2. Pitch Fees where slightly reduced in year due to early finish of season at £7.372 but is still our biggest on-going cost 3. Kit and equipment costs of £8.234 decreased yearon yearas less replacement kits were needed. and a significant amount was funded by local sponsorship. 4. Refs fees, registration fees, fines and coaching were all within the levels of our budget and as part of this we made good use of the coaching available through R&R for the teams that required it. 5. sponsorship and fund raising at £2.800 made a valuable contribution to the club's future, all the money raised here has all been for important parts of the clubs development 6. Collecting membershipfees forthe last xx% remains a challenge and we still have some memberships outstanding at the end of the season worth approximately £xxx
-ome Overall Net income at £35,858 was a decrease of £18.327 on the previous yearfs £54,185 due to reduction in membership fees and grants received in the season. Membership subscriptions decreased to £31,359 which is due the increase in teams and membership numbers. Sponsorship and fundraising saw biggest decrease at £7,593, which was result in lower local authority and FA grants as we didn't invest in significant roll on goals in the year. Expenditure Pitch fees £7,3721£11.221 LYI. This remains our largest element of expenditure and is exceptional managed through the central booking of pttches that Joe Wood arranges. We made a small saving on the cost of the pitches versus budget. but as the significant part of the c05t is for winter facilities they had already been used before premature end to season. Only saving was on grass pitches. Kit and equipment - £8,234111.037 LY). this is largely split into three areas, teams kits, coaches kits and also covid PPE equipment needed forthe year. however partially offset by the kit sponsorship deals that we secured in the year. Coaching- £1,490 {£1.776 LYI. this is our fifth year of using R&R Coaching to assist in the early stages of coaching for the new Under 6's team whilst we get the parental coaching up and runnin8 and for a couple of otherteams. We have also used this sporadically where we have coaching shortages in other age groups but this is rare. League Registrations- £2,9621£707 LY), this cost is dirertly attributable to the number of teams that the club fields across the leagues we enter into. as well as the timing of when the different leagues undertake their registrations. The significant increase in 2020/21 was due to early payment of this season's fee which feel into previous financial year. Refs fees- £1,7761£1,811 LY) the cost for referees has decreased slightly due to early season finish, and we are exceptionally grateful for the support of the local referees. without whose time we could not play at the weekends. and hopefullytrainin8 up some new referees as well. Trophies and medals- £1,757 {£1,545 LY) asthe official celebration day was cancelled again some teams opted not give trophies at end of year hence the redUd costs that roll into 2021121. OUTLOOK AND RECCOMENDATIONS FOR 2021122 The club continues to keep growing with new teams. players. managers. coaches. equipment and wrth any growing club the ability to balance the books consistently year by year is always going to be challenging. Revenue has increased nearly four times our 2011 level which is directly in line with our increase of members. Collection of subs remains a long and laborioustask forthe club wlth the need to keep chasing coaches and parents alike for outstanding payments. The collection of subs is something that we need to maintain with non-payment seldom deliberate, In cases of hardship we can seek assistance and are always approachable
.rthat. But as we have found the onlywayto collect subs for 31x1 players isthrough the parents first, then ith the support of the individual coaches and player reps. As stated above we have a healthy cash reserves position of £36.083 and is better than expected in our original budget. This is due to several fartors, good cost control, prompt payment of membership5 and strong funding from local sponsors. councils and the FA However, it is also due in part to shut down of operations through part of this season and reduction in costs due to Coronavirus. Therefore, my recommendation would be to give this back to members via a one-off redurtlon in fees In 2021122 from standard membership of £140 to £100. family membership from £270 to £195 and training membership from £70 to £50. The estimated total cost of this would be £12k across the season versus full price but would still leave us with healthy end of season reserves of dose to 5(N of annual standard revenue. A strong and prudent position to budget for. We have maintained the option to pay in two instalments during this year. which gives parents flexibility over financing their children's participation bLrt does come with another heavy admin burden for the club and makes it harder to collett remaining fees (an estimated105s of £3k in 2020/21. The recommendation for next season and beyond is to remove the option of two instalments wlth full fee due by latest end of September for the 2021122 season. As always, the true costs to the club does not include the goodwill of the coaches. managers and officials who all provide their time and commitment to the club free of charge and for that we all remain grateful. Worthys YFC Treasurer Andrew Hepworth, BAIHonsl, MSC, ACMA