RODWAY HILL GOLF CLUB     ANNUAL INCOME AND EXPENDITURE 2019 (1/1/19 – 31/12/19)

NOTES ON THE ACCOUNTS FOR 2019

Introduction

There have been some challenges in completing the accounts for 2019, resulting from the closure of the NatWest account, the opening of a new account with Lloyds and the winding-up of the company.

In addition, the Treasurer and Committee are now able to present the accounts in a way that better demonstrates to members how their money has been spent. This is achieved by showing the accounts in four sections:

1. Income from subscriptions and other sources and spending against that income – chiefly affiliation fees.
2. Income from competition entries and spending on prizes and related items, such as signwriting for the honours boards.
3. Charity income
4. Seniors activities – the Club account is used as a holding account for these activities (away trip/s and Christmas dinner) so the income and expenditure must balance.

Further, by providing a sub-total below items 1 and 2, members can better see how their subscriptions have been spent.

Notes on income

1. Membership was up this year – to 214, our highest for a number of years – providing additional income.
2. Clothing – the Committee decided to subsidise team shirts for the Men’s and Seniors teams, taking an income of only £10 per person, totalling £330.
3. Competition income – in 2018, Ladies’ income was shown as a net rather than gross figure.

Notes on expenditure

1. Affiliation fees – this expenditure also includes 6 refunds of memberships, five of which were double paid and one to a leaving member. Affiliation fees amount to £9 per member for England Golf and £13.55 (Men) or £11.50 (Ladies) to Gloucestershire Golf Union, leaving around £12.50 per member for all other Club related expenditure. Taking out Life Members, this provides almost exactly £2500 of income.
2. Clothing – this line shows that the members’ subscriptions subsidised the team shirts to £556 - £17 per player who purchased a shirt.
3. Club events/socials – in 2018, the costs of refreshments at the AGM and Presentation Night were shown as Socials; in 2019, the AGM is shown as a CLUB EVENT and presentation night costs are included under that heading.
4. Admin costs include all aspects of club expenditure and are higher this year as they include a day of training on ‘How Did I Do?’ (£372).
5. Capital costs include the purchase and erection of the starters’ hut (£533) and of seniors’ blazer badges to cover the next eight years (£186).
6. The competition costs in 2018 included the purchase of medals for the next ten years. The income from competitions covered all the costs of prizes, vouchers and trophies, the signwriting of the honours boards and refreshments on Presentation Night.
7. Charity - £3000 was donated to Hope to Tomorrow (Leo Lucas’ charity) and £114 to the British Legion. Just under £3000 is currently held for the current Captains’ charity, the Multiple Sclerosis Society.

Notes on balances

1. While the bank balances show an excess of income over expenditure, this is explained by the current holding of funds for the Captains’ charity. Comparison of the sub-total figures shows that expenditure this year exceeded income from subscriptions and competition entries by £216, reducing the Club’s carry forward to a little under £13000.

R.W.Wolfson

Treasurer

2 January 2020

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