Hon Treasurers Report
Executive Committee Meeting 5th January 2015
After a fluctuating year the accounts show a small Profit of £308.39 . Expenditure was well down by some £6,000 primarily due to £2,800 less in purchase of merchandise, namely the previous year included Umbrellas. Both clothing and Logo Balls purchases well down. Stock levels remain similar to 2013.
Overall , Competitions costs were down by some £2,700 and the County matches down £350 due to the away fixture vs Kent, a biannual swing !
Income shows a decline of just over £1000 on the previous year, The WMN income accounted for £854, although it must be born in mind it still made a profit of a similar amount. Clothing sales were down by some £250 which was due to the fact that, for reasons beyond our control, they were not available at every Competition.
Bank Balance on the Accounts shows £3,047.70. as of to-day ( 5th January 2015) that now stands at £4,066.09, to include Emerton Court Fees received for 2015. Less Exec. Comm. Expenses for this Meeting leaves a working balance of some £3,560.
Projected figures for 2015, based on the original Hon. Secs. quotes for Course/meal costings etc. would indicate a potential loss, however, with the increased Competition Entry Fee, adopted at the AGM to £20, I would estimate that should generate some £800 which should cover the those figures. If entries are sustain as previous few years and merchandise hit a figure of some £1500 and can see no reason that finances at the end of 2015 will remain constant.
The Auditors pointed out that Honorariums are subject to taxable income and recommended they are referred to as ‘Administrive Expenses’ on this and future Accounts
I submit the Audited Account for approval.