2023-24 Financial Report and Accounts

Expenditure	2023-24		Income	2023-24
Lime Kiln LC hall hire   *	3,807.69		Member subscriptions (annual)	940.00
Club affiliation and coach registration - VE	136.71		Member playing fees (monthly)	5,120.00
Competition entries and player registrations - VE	305.08		Event hosting fees (JGP)	315.00
Competition entries and player registrations - SWVA	330.00		Fundraising - events	0
Competition entries and player registrations – WVA   *	0		Fundraising - sponsorship	0
Equipment and consumables	468.50		Fundraising – grants   *	642.00
Prizes and awards	56.04		Bank interest	0
Website server rental (Richard Howells)	50.00
Bank fees and charges	0
	5,154.02			7,017.00
			Excess of income over expenditure	1,862.98
		Summary	BANK BALANCE brought forward from 2022-23	5,415.12
			Increase in funds from 2023-24	1,862.98
			BANK BALANCE carried forward to 2024-25	7,278.10

 

* See notes on next page

 

Notes to accounts 2023/24

Our balance at 31^st March 2024 does not reflect all expenses for financial year 2023/24:

• Estimated £3,086.86 in Lime Kiln LC hall hire fees (monthly expenses) have not yet been invoiced by Wiltshire Council or paid out.
• Estimated £652.50 in player registration fees have not yet been invoiced by WVA or paid out.

In addition we received grant income of £642 from Wiltshire Council Area Board (in March) to be spent in the next financial year (summer 2024) alongside a matching amount of club funds on new posts and net equipment.

Once these unavoidable delayed payments and exceptional items are taken into account we can see:

• Our full expenses for FY2023/24 (around £8,900) exceeded our regular member income (around £6,000) by approximately £2,900.  In other words, we made an operating loss.
• Around £1,300 will be spent on new equipment in FY2024-25 (Wiltshire Council grant plus matching club funds).
• Hence our available working balance carried forward to FY2024/25 is closer to £3,000 than the £7,200 bank balance shown in the accounts at 31^st March 2024.  This represents around 4 months of club running costs held in reserve – see below.

We aim hold a reasonable balance (reserve) for:

• Unexpected emergencies, costs and loss of income.  Past examples have included: the Lime Kiln fire when we had to hire other facilities at higher cost; the covid pandemic; and equipment failure.

• Maintaining and replacing existing ‘small’ equipment; for example: nets, antennae, balls, whistles, etc.

I confirm that, from the information available to me and to the best of my knowledge, these accounts accurately reflect the financial position of Royal Wootton Bassett Volleyball Club. Club Treasurer                 |  Donna Cunningham  |  Signature                       |  April 2024 I have reviewed the accounts of Royal Wootton Bassett Volleyball Club as laid out above and I confirm that the financial records of the club are in accordance with these accounts. Independent Verifier      |  Name                            | Signature                                     | Date

 

Financial prospects for 2024/25

With existing adult waiting lists, plus a likely boost in demand for volleyball from the 2024 Olympics, we expect membership to stay close to full capacity.  So current levels of income should be secure.

Lime Kiln LC hire and other costs are expected to rise in line with wider economic and inflationary pressures.

We need to ensure all our club activities and sections cover their costs.  At the same time we seek to make volleyball accessible and affordable by keeping our prices as low as possible.  We are sensitive to genuine financial hardship and can make individual exceptions when well justified.

With families continuing to face inflationary and cost-of-living pressures, we aim to hold our membership prices at current levels for 2024/25.

However this means we expect to make a loss in FY2024/25, based on regular income and expenditure, thereby reducing our balance and emergency reserve.  The club committee will monitor income and costs closely and may increase prices if necessary to maintain the financial health of our club.

 

Item	Period	Price proposed for 2024/25 season	What it pays for
Membership subscription To be paid in September or when you join. You must be a paid-up member to play in competitions.	Annual	£40 Adult (age 18+) Half price if you join after Christmas   £20 Junior playing with adults (U16-U18, Year 11+)   £0 Mini & Junior (U15, up to Yr 10) subscription included in playing fee	Governing body affiliation   Club insurance   Equipment   Club expenses   Competition entries   Player registration fees
Training and playing fee Indoor season: Sept to April (8 months)	Monthly	£25 Adult (age 18+)   £15 Minis (U12), Juniors (U13-U18), students in full-time education   FREE first session for new members!	Sports hall hire for training and matches   Junior competition entries