Annual Report

Transcription

1 Annual Report Sutton Coldfield Rugby Football Club Ltd Sutton Coldfield RFC Ltd Annual Report

2 Annual Report 2016 Season 2015/16 season has been very eventful for the club. On the field the Club had a poor season, relegation from level 5 and losing the Warwickshire Cup Final to Newbold and the Development side also losing the Warwickshire 2 nd team cup final to Nuneaton. These events were due in part to the retirement of even more players and a growing injury list. In all, 57 players were used to complete 1 st XV fixtures. The young players drafted in have great talent but this was a step too far for them when competing against the likes of Hinckley. The experience gained by these young players will stand them in good stead for the upcoming season.. While this is true, the 1 st XV is our shop window and income falls if we start underperforming. The Club as a whole is continuing to develop. We have a newly formed micro section and the women s team is growing strongly. The Development side and 3 rd XV both performed well. The Vets team turned out on several occasions with great effect. It would be remiss of us to forget everything we achieved as a club in the last twelve months and we need to reflect on what we did, where we are, and why. It won t have passed anyone by that 2015 was Rugby World Cup year. Sutton Coldfield RFC played a huge part in this, hosting two teams on the newly laid International Pitch. This was a long process and started in late 2012 for the hosting but even earlier for the pitch project. The pitch cost around 100,000, a hefty investment by the club and one for which we had to fight hard for funding. 20,000 was secured from Sutton Coldfield Charitable Trust and a further 42,000 from the RFU. The remainder was raised from the 2 sections of the club, some additional supportive sponsorship and the application of the ground budget form the Trust. The legacy of the pitch was to bring night games back to the RSG and provide additional income over the bar. First up were North Warwickshire U17s, a side comprising mostly of Sutton Coldfield

3 players. Next a 1 st XV game against Newport which drew a good crowd despite very little marketing. Finally, Warwickshire awarded us the County Plate Final. Local friends Spartans beat Barker Butts. The County were impressed by the facilities and the staging of this event. It is now likely that we will be awarded other games by Warwickshire. This will bring in extra revenues. The grounds team work very hard maintaining our pitches. Both the M/J and Senior sections add to the 7,000 Trust budget for ground works. The Trust budget has been higher but, as the years have eroded this, the two sections have stepped in to maintain the standard. We always knew they were good pitches. The RWC though meant that they had to be tested and graded. The 1 st XV pitch scored 93/100 and the International pitch 95/100. Just to put that in perspective, a top quality training pitch is and a stadium pitch such as Twickenham, Cardiff and Murrayfield would score The RWC brought us a number of benefits. None were hard cash and this was always going to be the case. It was up to us to make the most of the opportunity. The games on the TV brought in new people as our profile as a host base had been raised. We gained a number of new volunteers who are already making a marked difference. The pitch project got a focus and was delivered and we had over 10,000 worth of training and pitch equipment awarded after the event. There was a 3,000 grant also which we used to repaint the changing rooms and add new lighting. The most invaluable thing though was that we realised just how good our home is - how we can welcome people from across the world and not only make them feel at home, but also impress them with what we offer. So what s next? Well, this summer we hope to have started the new changing room extension. This will see three new ensuite changing rooms added plus an ensuite officials changing room and three new toilets. This development is a 135,000 investment and the biggest to date. It will allow us to have mixed games on a match day, providing changing rooms for U16 &17s on a Saturday and allow the women s team to also play on a Saturday away from the poor Sunday afternoon slot. This frees up space on a Sunday for other junior teams and also enhances our one club vision. With this project delivered, the investment on site over the last 5 years will have reached by far and away the most ever invested on site since it was opened in We ll try to use October 1 st as the opening day for the changing rooms which will be as close as damn it 39 years since the site was opened.

4 The total spend will have reached over 270,000 and includes the work done on the downstairs bar, staircase and disabled toilet on the landing. It s not been easy; we ve done it without raising membership and without asking the membership for additional cash. It s been found through grants, awards and finally an interest free loan from the RFU. So positives done, now the negatives. Membership for the senior section dropped this year. Also gate receipts were lower. We expect these when results aren t as good as the highs we have had in the past. However, we have maintained 3 strong teams. The real concern in the year was playing membership was dropping, even though we had maintained the number of teams. We instigated a new direct debit system and will expand this further next season so that all players are contributing to the excellent return they get for playing at Sutton Coldfield RFC. The downward trend was halted and turned around, we will be pushing again to grow this back to the levels they should be. Our community events in the year also drew in good crowds. The Bonfire did very well, but we need to be mindful that the housing development endangers the bonfire and we may have to revert to just fireworks in years to come as the houses will be too close to the fire. This was highlighted a number of years ago and planning put in place to mitigate it. This is why we have the Midland 7s, the Beer Festival and Ruckfest - all very new and all growing. They need to expand in the coming years and we ll work hard to make them our major fund raisers. A lot of things for which to remember the year: My overriding memory of the year was one set early in July. We had the Webb Ellis Trophy in our club house and drew in a huge crowd to see it and have their photograph taken. A massive coup for us and one we used to raise 1,200 for Wooden Spoon, plus a great take on the bar. A magnificent day. The record of the year is covered in the balance sheet. It s great to have ideals and dreams and great to invest, but we need to make sure this is all viable. When the turn of the year came and results were slipping away, we discussed what should be done: do we buy in results or continue to invest in infrastructure? It s a fact of life that you can t do both on our budget and so the coaching team stuck to infrastructure. It meant relegation but will pay dividends for a secure future. Changes were made at the end of the season and the long awaited one club project is now being launched. The links across the club will become stronger, opportunities will increase, and as a result we ll be a better, more productive and ever improving club. Opportunities for coaches, players and volunteers will all increase and the sustainable growth will continue. It s a watch this space!

5 Looking at the balance sheet, we reported a loss of around 18,000 this year. That should be followed by a sharp intake of breath. However, when you consider 13,000 of that has been invested in the new pitch we are short just 5,000 this year. Some of this is a drop in sponsorship due to only one set of Internationals to attract ticket revenue and the already mentioned drop in membership contributions. We ve also been investing in the bar to increase events and sales which we hope to develop into profit in the coming years. So a year of highs and lows, but one which we as a club have travelled through well. Many would have folded faced with the outgoings and the drop in form. We though, have remained strong. Our Development and 3 rd XV have had good seasons and continue to be well supported. With the new changing rooms at the start of the year, a possible additional player gym (a project they are running themselves), more Friday night games under lights and the growing social calendar, we re certainly heading swiftly in the right direction. Thank you for the support last year and for your support in the coming 12 months. The development of the new coaching structure, the enhancement of the Academy and our strong relationship with Wasps all go to provide opportunity and enjoyment. It s Good to be Green

6 Financial report. Headlines Financial controls stay in place Investment continues Strong bonfire performance again Lower sponsorship receipts due to the RWC and no Autumn Internationals Drop off in membership contributions halted New direct debit scheme launched Academy developing Awaiting improvement in bar performance for additional incomes Crossfit B76 return on investment appearing

7 Summary Financials Turn over dropped this year and there was some income form Crossft B76 that was used for player use of the facility. Income from sponsorship was down due to lower international ticket sales due to the Rugby World Cup. Income from membership dropped but was checked. Expenses were up due to the investment in the pitch while other expenditure was controlled to prevent financial risk. SCRFC Profit and Loss Account Year Ended 31 May / /15 Turnover 69,864 80,000 Expenses (64,333) (59,101) Gross Profit 5,532 20,899 Overheads (24,236) (22,392) Operating Profit/(Loss) (18,704) (1,493) Net Interest - - Profit/(Loss) Before Taxation (18,704) (1,493) Corporation Tax - - Retained Earnings (18,704) (1,493)

8 Balance Sheet Debtors have been dramatically reduced Cash in hand is down as this capital was deployed in the new pitch There is a creditor shown for a possible payment to the Trust SCRFC Balance Sheet As at 31 May / /15 Fixed Assets - - Current Assets Debtors 1,992 5,700 Cash In Hand 6,776 21,526 8,768 27,226 Current LiaBHlities Trade Creditors (2,916) (2,670) Deferred Income - Accruals - - Corporation Tax - - (2,916) (2,670) Net Current Assets 5,852 24,556 Long Term LiaBHlites - - Net Assets 5,852 24,556 Retained Earnings B/F 24,556 26,049 Current Year Retained Earnings (18,704) (1,493) Total Equity 5,852 24,556

9 Membership Membership dropped away and in January the new Direct debit system was deployed. Membership recovered but has dropped again in the summer due to standing orders being cancelled. All members will be placed on the direct debit scheme from September New tills will drive the membership again with a discount on beer sales being strictly by card only. None playing membership continues to grow

10 Bonfire This still remains our biggest income generator This year it s a Saturday. Looking historically we need to keep this day as there was a major drop in 2011, the last Saturday when we moved the event There is still a need to build the summer events as the new housing development will mean we may have issues with having a fire after this year. Consideration needs to be given to how we maximise the event without a fire and where we have to locate the fireworks.

11 Income and Expenditure Expenditure tracker In line with other years, the expenditure profile follows the peak for bonfire, matched with the income. At the same time the 6 nation ticket money leaves the club s cash flow. This is why the peak is higher than the income. It also aligns with payments made for the new pitch.

12 Cumulative income/expenditure The cumulative income/expenditure shows the careful continued management over the year. Despite the gap opening as expected, the two lines continued to track as costs were kept under control.

13 Budgets Setting budgets is vital. The assumptions made are realistic. A fall in any is monitored across the year month by month and expenditure adjusted accordingly. SCRFC Annual Budget Assumptions Revenues remain flat Bonfire night 4,000 profit Sponsorship consistent Additional Fundraising Income Comment Membership Subs 17,000 Small increase forecast Sponsorship 31,000 Consistent with 2014/15 Bonfire Night 10,000 Match Days 4,000 Gate receipts, raffles Fundraisers 1,000 Ruck Fest, Quiz 100 Plus Club 1,800 Miscellaneous 1,200 Sports Hall 10,000 SCRT Club (Bar Profit Share) 500 Sub Total Revenues 76,500 Expenditure SCRT 18,600 Playing Expenses / Coaching 40,000 Physio, laundry, tape / bandages, ref fees, mileage Coach Hire 1,500 Reduced, less travel in league Match Day / Teas 2,400 Programmes, Teas & Buffets break even Sponsorship costs 3,000 Sponsorship events, Boards Ground 3,000 Pitch markings etc. Bonfire Night 6,000 In line with prior year Fundraiser 2,000 Sub Total Costs 76,500 Surplus 0

14 Other Incomes Continued modernisation of the bar process should begin to yield returns and more profit. Additional events are key so bring in the ideas! Additional pre match entertainment will also be used to draw in more revenue. With 13 home games each year, a simple increase of 100 each game would yield an additional 1,300 not to mention the additional bar sales. The new pitch is bringing in more people to use the bar with additional games. Again these will start to generate profit that comes to the senior section. We ll be introducing membership incentives to get new members to join and also commission on new sponsorship deals all aimed to bring new income to the club.

15 SCRFC Accounts 2008/ / / / / / / /16 Period to 31 May Bonfire Night Income 15,845 13,133 11,957 8,123 10,993 15,026 19,081 17,762 Costs (6,314) (7,086) (6,127) (6,424) (5,529) (6,572) (5,859) (8,027) Profit/(Loss) 9,531 6,047 5,830 1,699 5,464 8,453 13,222 9,735 Midlands 7s Income ,788-2,201 Costs (3,723) (204) (1,118) Profit/(Loss) (935) (204) 1,082 Sport England Grant Grant , Offsettable Costs (1,431) - (5,179) - - Accrual for unspent funds (5,919) - 5, Playing Income Net Sponsorship Income 24,888 19,939 22,420 26,806 27,913 33,319 26,458 24,435 EDF Cup Income Playing Memberships 10,813 10,684 12,362 12,256 15,335 11,370 10,300 7,757 Pitch Hire / Gate Receipts 3,174 1,850 3,401 2,383 8,311 5,418 1,891 2,462 38,875 33,203 38,183 41,445 51,559 50,108 38,649 34,653 Non Playing Income 100 Club 1,800 1,800 6,800 1,800 1,500 1,800 1,800 1,800 Non Playing Memberships ,217 5,225 5,622 7,602 7,953 7,227 Raffles 1,745 1,092 1,154 1,822 1,457 1,265 1, Cross Fit Hire ,500 10,000 4,373 Supporters Coach , Sundries (Incl Budget Fundraisers) 1,920 3,222 1,750 2,015 1, SCRT - 4,183 5,545 5,130 2,860 4,825 1,365 - Club Dinner Profit / (Loss) (945) ,267 11,089 16,466 15,047 14,889 18,217 22,270 15,248 Costs Playing Expenses (20,738) (34,020) (27,041) (21,619) (32,968) (44,256) (49,716) (44,533) Coach Hire (3,535) (3,345) (4,135) (2,755) (4,690) (3,707) (2,727) (3,770) Supporters Coach (1,285) (993) - - Capital / Playing Equipment (4,086) (3,444) (2,287) (1,425) (8,141) (1,154) (595) (6,884) Ground Costs (3,413) (3,650) (7,185) (3,792) (8,787) (2,717) (5,526) (4,472) Rent to SCRT (10,500) (12,997) (13,250) (14,760) (15,000) (25,763) (16,365) (22,165) Club Shop Costs (1,369) (589) Sundries (Incl Budget Fundraisers) (1,784) (3,255) (3,985) (704) (105) (16) (501) (375) International Tickets (1,000) 1,000 (877) (734) (689) - 2,777 (46,426) (60,301) (57,883) (45,931) (71,709) (79,295) (75,430) (79,423) Interest Income Tax (42) Surplus / (Deficit) 8,537 (9,963) 2,596 12, (2,712) (1,493) (18,704) Opening Net Current Assets 15,171 23,708 13,745 16,341 28,600 28,761 26,049 24,556 Add Surplus / (Deficit) 8,537 (9,963) 2,596 12, (2,712) (1,493) (18,704) Closing Net Current Assets 23,708 13,745 16,341 28,600 28,761 26,049 24,556 5,852