Minutes of Financial Annual General Meeting 2022

Thursday 29th September 2022 at 8.15pm, Priory Park Clubhouse

1.      Apologies for absence:

Apologies were received from; Bob Jenner, Keith Dobson, Peter Harper, Debbie Harper, Albert Simpson, Alun Evans, Colin Bodimeade and Giles Dempsey.

2.      Minutes of Last meeting:

The minutes of the last Financial AGM held on 30th September 2021 were adopted as a true record of the meeting.

Proposed: Clive Hammond
Seconded: Peter White
Vote: unanimous

3.     Club Chairman’s welcome:

Stephen Branch first welcomed everyone to the meeting and then outlined the financial position of MRUFC at the end of the previous financial year 2021, in June 2021.  It was a time of great uncertainty as we were in the latter stages of the Covid pandemic. Last season (2021/2022) was the first full year standing on our own two feet again.  There were no reliefs, no grants and it was a real challenge to know how our sponsors, our members and our players would respond. The reality was that some of our sponsors have gone, but we also have some new ones too. On the playing side we lost our own Senior Colt’s side, as well as a number of older players who did not return after Covid.  There were a lot of unknowns as we faced the new season in September 2021. There has been a lot of investment into the Club and money has been put back in to improve the facilities to members; Refitted Priory Suite bar, new LED’s on the main floodlights as well as new ones on the top pitch, refurbishment of the changing rooms and showers and the current project underway to replace the Astro artificial surface.

4.     Financial Statement for ye 30th June 2022, presented by Phil Ainsworth, Financial Director:

Phil Ainsworth presented his report.  (See Appendix 1).

Jeremy Bostock, representing the MRUFC chartered accountants Thompson Wright Ltd, gave an overview and explanation of the key technical points from the annual accounts.

5.    Director of Finance Questions:

Q: Chris Dempsey asked about the level of depreciation included in the accounts and whether the land was included in this figure?

A: It was explained that as a sports club the value of the land was not included as this is something that cannot be turned into cash.

  • Phil Ainsworth also pointed out to members that the revenues from MaccFest 2021 were not included in the 1st draft of the accounts that had been sent to members, but are in the accounts presented to the meeting.
  • Stephen Branch confirmed that the Club’s cash position is strong, we have recruited an experienced new Bar Manager in Cam and that Andy Appleyard is driving the success of Priory Park Venue and has a wall full of Post-it note ideas!
  • Jeremy Bostock also clarified “Prepayments” vs “Debtors/Creditors” and the accounting treatment, for the benefit of members at the meeting.

The Financial Director then proposed that the Accounts as at 30th June 2022 should be adopted by the meeting.

This motion was seconded by Chris Dempsey and the vote was unanimously in favour.

There being no further business the Chairman thanked everyone for their attendance and closed the meeting at 8.50pm.

 

 

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