AGM 2020 – Accounts

2019-20Accounts

Notes to the Accounts

1.       The basis of preparation of these accounts is to cover an 18 month period from 1st January 2019 to 30th June 2020. The previous year’s account cover the 12 month period from 1stJanuary 2018 to 31st December 2018.

2.      The investment value has been provided by the Investment Officer. It is noted that an estimation has been made on the cash fund value in the Investments due to system access issues. This has been estimated to be £1,757.43.

3.      In 2019-2020 the accounts above indicate that we made a total loss of £819.37. However, most of this was a notional ‘loss’ of £1510.99 on our investments due to decline in capital value. Our real or ‘cashflow’ profit was £691.62.

4.      Membership income was significantly up. This is due to the annual subscriptions of newly elected members being due in January, and so recorded membership income includes all the life member subscriptions for the past two years (of £31 each).

5.      The increase in membership would have been offset by Sponsorship of Entry Fees. However, no team applied for the support in 2019 and there have been no events in 2020. 

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