I am delighted to be able to stand in front of you all tonight to present the accounts for Macclesfield Ruby Union Football Club Ltd for the year ending 30th June 2021, and which you should all have received a copy of by post.
Firstly, I would like to introduce myself:
As I was unable to attend the AGM in June this is the first opportunity, I have had to stand in front of you as an officer of the Club.
I was appointed on 25th February 2021, having attended the club for a couple of years during the Walking Rugby sessions and was persuaded by Stephen and Bob to look at the vacancy that had been left on the Board by the resignation of Peter White in October 2020.
I would at this stage like to place on record my gratitude to Pete who has been extremely helpful in the transition and has either always been on the end of a phone or willing to meet me down at the club as I look to understand the complexities of the club and its finances.
The year 2020/21 has been like no other, and as we start to look at the accounts which have now been effectively signed off by our current accountants Heywood Shepherd, and now satisfies our governance and reporting requirements, the figures reflect that, but I believe that the hard work and careful management of the club by the officers and staff have not only helped the club to survive but have effectively built a sturdy platform for the future from which the club can build and thrive.
Having been through previous Finance statements from the club and seen how detailed they are, I actually don’t intend especially this year, going through every heading but want just to give a snapshot of a few key points.
Income throughout the year was of course down with the club having to close its doors for 4 months of this financial year on the back of all the other previous lockdowns that had occurred, and with no Rugby being played from early March 2020, this all impacted heavily on Gate receipts, matchday income and Sponsorship. I would at this point like to give an honourable mention to the Mini and Junior Sections of the club who despite the lack of playing and training time have managed to maintain their subscription revenuer to pre pandemic levels.
The lack of Rugby has meant that our playing expenses were reduced but as in any organisation there are still the day to day running costs that have to be accounted for. We have looked to keep a cap on these with all the essential expenses to keep the club running falling in line with our cash flow expectations.
This year we have managed to declare an operating profit of just over forty eight and a half thousand compared with just under thirty last year. Let me state now that this would not have been possible without the grants that were made available to businesses throughout the year from Cheshire East and the government and we as officers recognise this. We would also like to thank a number of club members and sponsors who when needed, put money into the club and also didn’t ask for refunds to events/sponsorship that had been paid for. They have truly been part of keeping this club going.
We also recognise the huge effort that has been put in by members and friends to improve and add new facilities to the club throughout these difficult times. The Sin Bin Bar has become a huge asset to the club and has allowed us to hold our Thursday Club Nights as well as a range of revenue generating events which in the main shows in the accounts with the Social/Fundraising and lettings both doubling while the clubhouse remained closed, bringing in much needed income. The refurbishment of the main club bar during lockdown 3 while not really affecting these accounts in terms of income has already stared paying dividends in bookings for the club as well as giving us a facility to be proud of.
We have also invested in the Astro pitch floodlights including adding lights for the top pitch which will give us more growth in rental income, which despite the closures for 4 months this year has seen a growth in income generated. We will also continue to explore funding routes to refurbish the facility and restart the creation of a ring capped sinking fund, so we will be in future able to finance the pitch refurbishment without external borrowing (however low the interest rate we are offered it at is)
Looking at the Balance sheet this year, as always with accounts these figures are just a snapshot in time and are continually moving throughout the year, but as can be seen we continue our recovery and as we stand are in a healthy position as a club, but as it is imperative that we keep an eye on expenses while continuing to drive growth of the club and its facilities.
No club can survive without its members, and here I would like to appeal to all to make sure that your subscriptions to the club are up to date, but also the huge amount of work, time and effort they put into the club, and on behalf of the officers can I tonight give recognition to all who continue to help make the club what it is today.
I would also like to thank and recognise the work that our GM Andy and his team have put in over the past year. In a tough 12 months the team have risen to the challenge and help us deliver these results.
As I mentioned earlier I don’t intend to go through all the various sections of the accounts but am here to answer any questions you the members may have.
So to finish this statement presenting the accounts to you, I’m sure that you will agree with myself and my fellow officers that Macclesfield Rugby Union Football Club is continuing to look forward to an exciting future ahead and I recommend that these accounts are accepted.
Minutes of Financial Annual General Meeting 2021
Thursday 30th September 2021 at 7.00pm, Priory Park Clubhouse
- Apologies for absence:
Apologies were received from; Colin Joyce, Brian Clarke and Jeremy Bostock.
- Minutes of Last meeting:
The minutes of the last Financial AGM held on 14th October 2020 were adopted as a true record of the meeting.
Proposed: Clive Hammond
Seconded: Keith Dobson
- Club Chairman’s welcome:
Stephen Branch began by thanking Peter White for all his work as Finance Director for a period of over 7 years prior to standing down at the AGM earlier this year. Stephen Branch also expressed his thanks to Heywood Shepherd as the MRUFC accountants for their work in preparation of the June 2021 year-end financial accounts.
Stephen went on to introduce Phil Ainsworth as the new Financial Director to the meeting and thanked Messrs Thompson Wright and Jo our seconded Book-keeper for their support to MRUFC during the club’s transition to several new accounting systems since the last meeting, including XERO and Trevallis, a new EPOS system necessary for our expansion to three bars.
Stephen commented on the very healthy level of profit in the last financial year and how the club currently has significant cash balances in the bank. Stephen also commented that there are a number of invoices from the last financial year that will be settled in this financial year. Credit for this robust performance is given to the Committee, the Club Management, the membership and some of the sponsors who continued to support us during the lost season.
Stephen commented that it had been a very unusual year, but that he urged caution on the results as the club has received a number of grants during the previous financial year as well as the club cost base had been affected by the Furlough scheme. Stephen stated that there is no room for complacency and the cub must see the whole season through in order to assess the true financial position. This will require support from members, sponsors and a successful programme of events using the MRUFC facilities.
- Financial Statement for ye 30th June 2021, presented by Phil Ainsworth, Financial Director:
Phil Ainsworth began by introducing himself to those members attending the meeting who had not yet met him.
Phil presented his report. (See Appendix 1).
- Director of Finance Questions:
Q: Clive Hammond asked that, given that last season the level of costs to the club was much reduced due to circumstances connected to lockdown and loss of the season, where does the FD see the additional cash coming from this season?
A: Phil commented upon Stephen Branch’s remarks in relation to sponsorship this year that is expected to be significantly higher than last season. Secondly, the level of member subscriptions is anticipated to be improved (R Cooke commented upon the measures to be implemented this season with non-payers). Thirdly, the bar incomes are expected to be significantly better as a result of the new bar contract with AB INBEV and Beartown. The margins and revenues and flexibility on guest beers are significantly more favourable than our previous arrangements.
Q: Clive Hammond asked about high levels of salaries given that we had not been operating at full capacity?
A: Phil explained that 80% of salaries were claimed back through the furlough scheme, but that the club did make up the 20% difference to staff. Phil explained that the club plans to recruit a full-time administrator to handle the increasing volume of administrative work within the club, as well as an additional person to manage the increasing number of events and hospitality.
Q: Tony Close asked about the bar profit?
A: Phil commented that the combination of different beers available principally through our main bar contracts enabled the club to maximise revenues and profits.
- Any other business:
6.1: Proposal to change auditors from Heywood Shepherd to Thompson Wright
Proposed: Clive Hammond
Seconded: John Webster
Vote passed unanimously.
6.2: Chairman Stephen Branch stated that he would return upon request any sum donated by a member who supported the Crisis Fund generated during lockdown who wished a refund
There being no further business the Chairman thanked everyone for the attendance and closed the meeting.