East Molesey Cricket Club Annual Report 31 October 2020 **East Molesey Cricket Club Treasurer’s Report Year Ended 31 October 2020** ## **Overview** It is clear from this Annual Report that the Club has had a good year financially and is in a very healthy position going into the 2021 season. When the coronavirus pandemic first arrived the Committee was rightly concerned about the long-term financial security of the Club. In April it appeared likely that the Club would have no bar sales, no licence fee from our café and no cricket. The latter could have resulted in reduced income from subscriptions. Given that these remain the Club’s three largest revenue streams these accounts would naturally look very different had that scenario materialised but fortunately it did not. The Committee and all our members can be very proud of how the Club has responded to that good fortune and come out of this most challenging of years stronger than we started it. ## **Outdoor Nets Loan Repayments** The Club’s £72,456 five-lane outdoor net facility (Note 10) was mainly funded by a £50,000 interest-free loan from the ECB in 2017 which is repayable over five years. The Club has continued to make its £2,500 quarterly repayments on time up to the payment on 25 February 2020. After that date, as part of its coronavirus support measures, the ECB then volunteered to suspend the quarterly payments until the one due on 24 May 2021. As a result, the loan balance has reduced by £5,000 in the year instead of the usual £10,000 leaving £27,500 outstanding at year end (Balance Sheet). The Club will have no issue continuing those repayments when they resume. ## **Repairs & Maintenance** Repairs & Maintenance has increased from £7,946 in 2018/19 to £15,274 in 2019/20 as a result of the committee taking the opportunity to invest in our pavilion and surroundings in the year as well as repair some of the damage caused by our departing café licensees. The largest part of this spend was an upgrade to the Club’s water mains connection which will bring lasting benefits to the utilities available to members. Thank you to Jez Downer for arranging this. The remainder of these costs predominantly include materials and paint to make the other repairs possible. Thank you too to the countless members who volunteered their time to these projects allowing the Club to keep its labour costs to an absolute minimum while achieving all of this. ## **Bar** Since becoming a registered charity, the Club has set up a trading subsidiary, East Molesey Cricket Club Bar Ltd (Company No 11398581), in order to earn all the bar profits and donate them back to the Club free of corporation tax. The bar profits are thus shown on a new Donations line in the Income & Expenditure Account but nothing has changed practically speaking beyond that. 1 The bar profit has increased to £54,188 in 2019/20 from £38,034 in 2018/19 (Note 2). Thank you very much to Tracy Tilly for taking over from Mick Whelan so seamlessly, overseeing the investment required in the bar and promoting and maximising its use in a very challenging year. Tracy has also worked hard to bring our costs down and the results are clear. Our move to a cashless bar was in place in January before coronavirus arrived. It was brought in to improve security, the speed of service in busy times and the ease of our administration. It will remain in place after the pandemic has passed as it is clear that this has helped Tracy in the year. ## **Legal Fees** Legal fees have remained a significant cost for the Club at £8,350 in 2019/20 compared to £3,877 in 2018/19 (Income & Expenditure). In 2018/19, this cost predominantly related to the transferring of the ownership of our land from our retiring trustees (Barclays Bank PLC) to ourselves and the registration of the club as a charity. In 2019/20, they were incurred negotiating the exit of our outgoing café licencees and their replacement with Dale and Jo at Miss Polly Café. The former was unavoidable, and I am comfortable considering the latter as an investment in the Club’s future. I am confident that we will recoup the costs around the transfer of the café licencees in an increased licence fee that better reflects the market value of the space. ## **Café Income** Income received from the licencees of the café space reduced from £30,523 in 2018/19 to £18,429 in 2019/20 (Note 4) due to the gap in trade between our two café licencees in the year. This figure is made up of £17,179 of licence fee received from The Club House Café from November 2019 to January 2020. The final £1,250 that makes up the total is the first invoice to Miss Polly Café for October 2020. ## **Donations** Thank you very much as always to all our members who donated money to the Club in the year (Income & Expenditure). The Club is always hugely grateful particularly in the year that we have had. We on the committee all hope you believe they are being put to good use. The Club’s charitable status has allowed us to claim Gift Aid on these donations which grosses up their value by 20%. ## **Subscriptions** The Club’s largest source of income will continue to be from members’ subscriptions and match fees. They reduced marginally in the year to £82,232 compared to £86,446 in 2018/19 (Note 1). Thank you very much to Dawn Parry, Simon Barrett and all the captains for collecting them in the year. Thank you too to all our members who were happy to pay their subscriptions for the year and for the Club to keep hold of them when it was not clear if we would have a chance to play any cricket. 2 ## **Sponsorship** Sponsorship income has remained high in the year at £7,686. Thank you very much to Matthew Tigg for taking on this role and sustaining this difficult income stream for the Club in such a challenging environment. ## **Coronavirus Support** The Club has taken advantage of all the government support made available to us by the various authorities. Firstly, this is visible in the Grant Income figure that is up to £20,215 in 2019/20 from £7,810 in 2018/19 (Income & Expenditure). This is made up of the Elmbridge Borough Council Covid-19 Retail, Hospitality & Leisure Grant (£10,000), the government’s Coronavirus Job Retention Scheme grants (£3,235), Sport England Lottery Fund Covid-19 Grant (£6,500) and Elmbridge Borough Council’s Grant Aid 2020 (£480). These grants do not need to be repaid. Finally, the Club received a new £5,000 interest-free loan repayable over 5 years from the ECB in the year (Other Loans on Balance Sheet). ## **Independent Examination** As a Registered Charity (Charity Commission Number 1177586) with gross income greater than £25,000, charity law requires us to arrange an Independent Examination of our accounts. We did so last year for the Club’s year ended 31 October 2019 and the Committee will again this year once they have been signed off at the AGM. Our Independent Examiners are below: Robert A Price LP Chartered Certified Accountant 39 Etchingham Park Road Finchley London N3 2DU 3 robert a. price chartered certffied awountznt INDF,PENDEh'T EX.4Tr11P*ER'S REPORT TOTIIE TRUSTEES OF EAST NIOLESEY CRICKET CLIIB Indep¢ndtnt eiamincrfs report to Ihe trustees of E￿t Molesey Criekef Club I'the Charity.) I report to the trusiees on m). examination of the a¢counts of the aiK)ve Charity for thc year cnd¢d 31" October 2020. R¢spon5ibilities artd basis of report As th¢ ehatity'5 tru5tee4 jou are r¢stx)nsible for the PTepardi#)n of the aecounts in accordy. I ca confirtn that I am qualified to undertake the &xaminaLion 1￿Cause J am a regIs￿r￿ member of The Association of Certified Chartered Aceounthnts which is one of the listed tx)dies. I have complEted my examination. I confiTm that no rnatu1￿ m*tUs have come kn my attentLOn in connection with the examinatton givin8 tne cause to klteve.. accounting re￿rdS were noi kept in reyit of the Charity ￿ required by section 130 of the ACL or the accounts