Watlington Memorial Club AGM

28th Sept 2015

Agenda1. Apologies for Absence2. Minutes of AGM 25th September 20143. Chairman’s Report 4. Treasurer’s Report and 2014/15 Accounts5. Section Reports6. Any other business7. Close AGM

Update on The Watlington Club FY15/16Inc. Bar status, Grant, Car Park, Function room

Date of 2016 TWC AGM

Apologies for Absence

Minutes of AGM 25th September 2014

Chairman’s reportDave Parkes

Charity Structure This meeting is the AGM for The Watlington

Memorial Club for FY Apr14/Apr15. Registered charity 271000

We are in the process of closing down this Charity as we transition to the new one

For FY Apr15 onwards we are operating under The Watlington Club CIO. Registered charity 1160612

We will provide an update on the first half of FY15/16 after the AGM has completed

Board of Trustees

Dave Parkes - Chairman Graham Smith – Treasurer Cate Hewetson-Smith – Secretary George Bruce – Bowls Chair Mike Staples – Tennis Chair Pam Mundy– Squash Chair Mike Vincent – Advisor Henry Wancke - Advisor

Achievements A club that attracts 500-600 local sporting

participants across Tennis, Squash, Racket-ball, Bowls, Dance, Judo, Tai Chi and Pilates

A club that heavily subsidises costs for many of those sports to ensure it’s inclusive for all and has high participation rates.

A club that is at the heart of sporting and community activities

Achievements (cont.) Successful transition made on 1st April 15 to The

Watlington Club CIO – further info to follow Contract working well for outsourcing of Main

Building property management to Griffith&Partners: Proactive maintenance Better policies and testing for safety of gas, electrics and

fire alarms/extinguishers Less surprises and easier to forecast costs! Efficient mgmt of finding business and residential

tenants. All offices and flats fully occupied for the first time in many years

Achievements (cont.) New Secretary and Squash Chair appointed as we

put together the new CIO Board Two Board advisors appointed Main club revenues up 16% and overall Charity up

by 8%. Costs for both are down so way more profitable this year.

More younger members: Performanze dance studio now has 140+ children

registered and regularly attending Tennis attracting 100+ juniors Scouts, Cubs and Beavers successful with waiting list Judo has approx. 35 children regularly attending

Achievements (cont.) With more stable finances and building

maintenance we were able to focus on developing expansion plans and more charitable goals

We have made progress, although still work to do, on building “one club” rather than four sections.

Common tools and processes Openness on finances and possibilities with cash

reserves Joint planning and forecasting

Current issues/priorities To make the Bar, Georgian room and Function

room the heart of an inclusive social club The main club roofing issues mean that we need to

undertake major repairs and maintenance The membership process is being reviewed with

plans for new on-line system with automated renewals and payments

Business development plan in place to further increase revenues and membership levels

The main club is mainly run by just 3 people. We need further help and skills to accelerate our development plans

Current issues/priorities (cont.)

Development of links to school, councils and other public bodies

Very low Squash membership and usage. Down to approx. 30 members over the last 2 years

Still issues to resolve with Bowls about being “one club”

Thanks

Finally, I believe that we had a very good year and would like to thank the Board of Trustees.

They all give up much of their free time and show a huge amount of dedication to the Club.

We are making great progress and they are to be thanked for that.

Treasurer’s Report and 2015 AccountsGraham Smith

Overview of audited accounts Hard copies of our complete accounts are available

today but I would just like to go through the key points in this presentation

These Accounts are for the year ended - 31st March 2015

Our accounts contain two sets of numbers One for the main club One for the whole charity including sections

Three years of financial data are shown for comparison

Independent Examiners Report - Page 1

This will be a signed confirmation from our auditor that the accounts have been examined by him and that they are a true and fair view of the financial status of the charity.

By law, he can only formally sign them once they have been approved by the members today signed by the Trustees

I have written confirmation that he has completed his review and will sign them after they have been approved at this meeting

Main Club – Profit and Loss - Page 3

Income For the 1st time in 4 years our income has increased as we

have been able to rent out the majority of our facilities Expenses

Most items consistent with previous year £20k on maintenance & renovation – the wall, roof repairs

and asbestos removal.

2015 2014 2013

Income 63,377 54,630 56,972

Expenses 55,370 61,908 51,712

Operating Profit/(Loss) 8,007 (7,278) 5,260

Main Club – Profit and Loss - Page 3

Expenses continued £4k spent on outsourcing our property management

we are moving to a proactive maintenance plan rather that just fire fighting.

The benefits of this are steadily being realised as we have had no major incidents in the last year

We will continue to upgrade the fabric of the building when money is available

2015 2014 2013

Income 63,377 54,630 56,972

Expenses 55,370 61,908 51,712

Operating Profit/(Loss) 8,007 (7,278) 5,260

Main Club – Balance Sheet – Page 3

Assets Our profit this year has resulted in an increased cash

balance Rental debtors are all cleared

Liabilities Creditors at reduced levels since mortgage paid off in 2012 One tenant has paid in advance

2015 2014 2013

Fixed assets 245,897 245,897 245,897 Cash 17,732 7,590 10,325 Debtors 450 48 5,008 Total 264,079 253,535 261,230 Creditors 6,395 3,859 4,275 Reserves 257,684 249,678 256,955 Total 264,079 253,537 261,230

Assets

Liabilities

Charity – Profit and Loss – Page 4

Income Slight reduction in section income offset by increase from

main club Expenses

No major expenditure this year on repairs and maintenance All other expenses similar to previous years

The charity is profitable

2015 2014 2013

Income 88,484 81,584 87,015

Expenses 80,852 92,550 85,222

Operating Profit/(Loss) 7,632 (10,966) 1,793

Charity – Balance Sheet – Page 5

Assets Our cash reserves have increased

Liabilities Creditors at normal level

The whole Charity does have money but we need large sums to bring our facilities up to standard and to generate more income to safeguard our future

2015 2014 2013

Fixed assets 317,026 322,716 328,406 Cash 114,097 99,264 98,040 Debtors 1,065 483 5,365 Total 432,188 422,463 431,811 Creditors 14,762 12,669 11,051 Reserves 417,426 409,794 420,760 Total 432,188 422,463 431,811

Assets

Liabilities

Notes to Accounts – Pages 6 to 9

Accounting policies This is the basis on which are accounts are prepared

Main Notes 2 and 3 Fixed assets 4 - analysis of debtors 6 - LTA loan – interest free 7 – analysis of creditors 13 – insurance valuation of £3.5m

Financial controls During the year we have also implemented a web

based accounting system for the whole club We have a better understanding of the club finances We have a constant approach All data is safely stored and backed up On line reports available to all Trustees Improved debt collection

Example of new system reports

Financial Controls & Thank You We have put in place controls to safeguard our

assets (cash) and financial future All payments need two signatures Detailed monthly accounts produced 3 year cash forecast updated every month Schedule of major repairs and renovations We endeavour to pay all supplier within terms

I would like to thank the section treasurers for their continued support and for making my life easier

Tennis – Ken, Squash – Roger/Pam, Bowls - Peter

Questions & Vote

Any Questions?

VoteTo approve our Financial Statements for the year to March 2015 and authorise Trustees to sign them

Update on change of status to Charitable Incorporated Organisation (CIO)

CIO status Transition to a Charity Commission CIO approved

unanimously at special meeting on 24th July 2014 Our application was submitted on 8th Sept 2014 We had many questions from them about our

Charitable worth and how we met our objectives Approval finally given on 24th Feb 2015 New Charity went live on 1st April 2015

New bank accounts set up with online approvals Supplier and customers notified Trustee declaration signed

CIO - continued We are now working towards closing the old charity as

quickly as we can, the open issues are Approval of Accounts and minutes at this AGM Transfer of title deeds to CIO

All documents have been signed by relevant Trustees – not as easy as you may think

Documents currently with our solicitor for registration Closure of WMC with Charities Commission

Tennis Section reportMike Staples

Tennis The tennis club has had another good year. We currently have a total of 236 members: 82 adults, 34

seniors, 84 juniors 2 students, 1 unemployed 18 minis and 15 accompanying adults. This is the highest membership over the last 5 years.

General membership fees are held as low as possible to make

sure that all in Watlington can afford to join. In addition, there are reduced fees for juniors, minis, students, old age pensioners and unemployed to ensure that the club is inclusive for the entire population. Overall, there is healthy balance between male and female, young and old.

Tennis (cont.) The courts, although in an acceptable condition, for now, will

require resurfacing in the next 1 to 2 years. We are researching different surfaces in order that we might take advantage of advances in technology in order to get the best combination of playability, comfort, low maintenance and acceptable capital cost. A permanent sinking fund is in place specifically reserved for this purpose as the club clearly cannot continue to function without safe and tournament-standard courts. Funds are also allocated for long-term replacement of the pavilion and floodlights. We have applied for a grant from SODC; however, without this grant, there are no surplus funds over the foreseeable future.

Tennis (cont.) We ran the usual two American tournaments in the spring and

autumn plus the club summer knockout tournament, which finished with the finals day and barbecue on September 12th. This year’s autumn tournament, played for the Eileen May Rump memorial cup, will be played on Sunday 11th October.

We entered men’s, ladies and mixed teams in the Thames

Valley Winter and summer doubles leagues. Currently, in the summer leagues, the Men's A team is 7th in Division 7, Ladies A is 7th in Division 6 and the Mixed team is lying 5th in Division 6. In the 2014/15 winter leagues, the Men’s A finished 8th in Division 5, Ladies A 6th in Division 3 and Ladies B were 14th in Division 5. Some of these results suffer from the fact that the teams had over-achieved last year and have been promoted to stiffer competition.

Tennis (cont.) The club has continued to promote junior activity through

regular weekly junior coaching events run by members and participation in the club tournament at two age levels, as well as a Parent and Child tournament. This year, the junior tournament was played on 4th September, with the older juniors’ final being played with the adults on finals day.

Adult and junior coaching continues to be available privately

through Mandy Nall. The Tennis section also ran a quiz and a Christmas dinner, both

of which were very well attended. The primary aim of these events is social, although they do cover their costs.

Tennis (cont.) The tennis section actively supported the Memorial Club on its

journey of transformation into the Watlington Club through integration of systems and the promotion of a common purpose.

The annual general meeting of the Tennis Club will be held in

the Watlington Club hall on Thursday 15th October at 20:00.

Bowls Section reportGeorge Bruce

Bowls This year has again been an excellent one for our Section and,

as Chairman, it has been a pleasure to be part of it. The overall standards of green, clubhouse and quality of play

continue to rise. We have done well in our leagues and our players continue to

represent the County and County u-25’s. Once again we had young players from all the County coming to our special competition day which the Club organises for them.

When the present Main Club was re-established at the end of the 60’s our Section had already been going for well over 30 years and used a local pub, now closed, for refreshments. An ex-prefab erected in the early 60’s served us well until 2004 when the new pavilion was built.

We hope that under the auspices of the new Club and new Charity we will continue to flourish.

Squash Section reportPam Mundy

Squash Over the last year the Squash Section has been

looking at ways of increasing the use of the courts. We have implemented a “pay-as-you-go” system and we are very pleased to say that it is now being used. Our next step is to widen our advertising to try and encourage people back into the club.

The cost of our membership fees and light tokens remain the same making it very affordable to play at the club. We hope to continue to be able to provide this facility for Watlington.

Squash (cont.)

We fully support all of the changes at the Main Club and hope that it will also help to increase the usage of the squash courts.

Unfortunately we have had a few major repair issues at the courts and are in the process of replacing the boiler system and having the men's shower room refurbished.

We have applied for funding to have one of the courts completely refurbished and in light of the recent cost of the repairs to the building this will be a very useful pot of money for the Squash Section if it is successful.

Any Other Business

Closing of the AGM

Update on The Watlington Club – Apr to Sept 15

The Bar Lease status The Bar was vacated at the end of May We had a specific set of criteria to meet for potential

new clients as well as a pricing structure We advertised and had a number of discussions At the start of Sept we had firm interest from a local

couple with experience in running bars/restaurants After several very good meetings, on 11th Sept they

made a verbal offer On 18th Sept, the Board unanimously approved their

offer

The Bar Lease status Our solicitor is now drafting the contract and G&P

are doing the relevant background and financial checks

If the contract is signed, the new tenant then will undertake 3 weeks of refurbishment and redecoration of the front bar, Georgian room, kitchen and toilets

The front room will operate as a bar The Georgian room will become a Bistro offering

food and wines from lunchtime onwards The tenants will support the sporting sections as

well as the main hall functions

Grants In June, we were advised that we could obtain a capital grant

from SODC. Thanks to Anna Badcock! We put a plan together to cover – resurfacing of tennis

courts, refurbishment of one squash court, new cellar roof, No 18 roof repairs, redecoration of the function room and redecoration of the front of the building

The on-line application as submitted in late July In early Sept we were on the shortlist to present to the

SODC committee In mid Sept we were informed that we have been

recommended by the committee for the grant We now await final confirmation from the SODC Cabinet

member to get a grant of £39k Thanks to the Board as well as Ken King for doing this so

quickly

Car Park

We continue to plan for the overflow car park to be professionally surfaced, marked out and secured. These spaces will then be available for local residents and businesses to lease.

Pay back on the investment will be approx. 2 years. After that, it will provide the club with significant funds to re-invest in maintaining and expanding the site

We will also redevelop and expand the main car park to ensure it provides maximum spaces for members

The Function Room

The room has been underutilised for a long time We have, for an initial trial period, made the function

room free for both Charity and Volunteer organisations. This is starting to gain momentum e.g. Watlington in Bloom, Watlington Pre-school

In the function room, we have added Pilates to our list of sports and will soon also have Chair Based Exercises for the elderly

We now have the following recurring bookings - Pilates, Tai Chi, Tai Chi for 50+, Slimming World, Royal British Legion, Judo and Chair Based Exercises (as of 30th Sept)

Various

Successfully operating under the new CIO constitution and governance model

We are working with Scouts around signing a long term agreement with them. Four options are on the table

We are looking into the possibility of a Gym and Spin area. Any comments? Are you interested? Is it something that the community needs?

Date for the first Watlington Club CIO AGM

Dates

We have regularly held the AGM at the end of September.

This is six months after the closure of the Financial year and we believe it needs to be moved forward to be more relevant.

We are now proposing the AGMs be at the end of June.

A date of Thursday 30th June 2016 is proposed

End of meeting

Thank you for attending!