Treasurer’s Report 2009

The Club activities resulted in a surplus this year of £386 (2008 surplus £284).  This has been achieved as follows:

  £
Net Surplus 2008      284
Increase in interest received 5
Increase in Grant from HQ 23
Decrease in events net income (see right table) (94)
Decrease in net cost of magazine 137
Decrease in surplus on sale of shirts (89)
Decrease in cost of running the Club 59
Increase in Charitable donations received 1
Increase in Other income 60
Net Surplus for 2009 386
   
Events net income £ change
Reliability Rides 15
Stonehenge/Danebury (41)
Tour of the Hills & Greensands (80)
Bicycle Icycle 12
Net total (94)

The Stonehenge/Danebury entries were 19 down partly accounting for the reduced net income.  The TOH surplus reduced due to a fall in entries from 167 to 118.

Magazine net cost decreased by £137 arising from the full effect of the increased charge of £4.00 and a steadier and lower level of production costs.

The cost of running the Club increased due to increased costs of engraving cups/shields, free drinks given at the last AGM and write-off of old medals.

The Club made no charitable donations this year (£nil in 2008).

The AGM agreed to convert 11 transfers into complete shirts.  Of these 6 have been sold by the year end (no shirts sold in 2008) at a small surplus of £17.  The committee have decided to write down to zero the remaining stock of 11 transfers creating a write-off of £106.  This leaves 5 complete shirts in stock at a value of £25.95 each.

No transfers in or out were made to the Building Society account.  Interest received in the latter part of the year reduced substantially in line with the reduction in interest rates.  However, this year overall there has been minimal change.

There has been no movement on the deposit account other than interest.

The Chairman successfully sold the Club's map library and netted £60 (Other Income).

Cash resources have increased by £991 (2008 - £8) arising from Club activities leaving a total cash available of £3,472 at the year end.  A large part of the cash in the current account will be moved into the Building Society account shortly after the AGM.


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