Reading and District Indoor Bowls Club Ltd

Transcription

1 Reading and District Indoor Bowls Club Ltd Notice of Annual General Meeting 10.00am Sunday 24 th September 2017 Registered Number Limited by Guarantee Beech Lane, Earley, Reading, RG6 5PT

2 Agenda 1. Election of Tellers and Scrutineers 2. Election of Directors and Officers Under the terms of Article 37 of the Articles of Association Mrs Edna Orchard standing down and offers herself for re-election as Chairman Mr Alan Herbert continues for 2 nd year as Vice Chairman Mr Ian Henry continues as Company Secretary Mr Brian Nursey continues as Company Treasurer Mr Mike Holmes continues for 2 nd year as Board Director Mr Mike Jackman continues for 2 nd year as Board Director and as Section Secretary for unified Bowling Section. (If re-appointed at Bowls Section AGM after this meeting) Mr Barry Filsell standing down and offers himself for re-election as Board Director Mrs Joy Holmes continues for 2nd year as Board Director 3. To confirm the Minutes of the 2016 AGM as circulated 4. To receive the Director s Report 5. To receive and Adopt the Accounts, as prepared and presented by the Company Treasurer, Mr Brian Nursey and the Examiner of the Accounts Report. 6. To re-appoint the Examiner of our Accounts, AE Dowd Chartered Accountant, whose fee shall be agreed by the Board of Directors Dated this 24 th day of August 2017 By order of the Board of Directors Ian Henry Company Secretary 1

3 Chairman s Report Everyone at Whiteknights should be proud of the progress made by our Club under Andy Knappers excellent day-to-day management. We are still basking in the glory of winning two national competitions last season. Plus we are now one of the top-ten indoor bowls clubs in England based on bowling membership. Finally, our member surveys show a high level of member satisfaction in most areas of Club performance. However, the Directors are convinced that, at a time when all bowls clubs are fighting to maintain membership, we should not just stand still. We should instead press ahead with two major improvement projects. The investment required is around 70K over the next few years and will substantially enhance the satisfaction of our members when playing at Whiteknights. The first project is LED lighting, which will improve our members bowling experience and, over time, make considerable savings in our energy costs. The second is to replace the lockers in both changing rooms and carry out much needed improvements in plumbing and decoration. In addition to funding these new projects it remains a priority to pay attention to the regular maintenance of the Club building that is now forty-five years old. To help fund these programmes we have decided to make the following increases to membership and rink fees: - The membership fee will rise from 105 to 110 (an increase of 4.8%). - The 2-hour rink fee will rise by 40p to 3.00 (an increase of 15%) plus a rise in fees for the other bowling sessions. These will be capped until the end of summer The Board appreciates that no one likes price increases but we can assure members that all additional funds will go towards the benefit of the Club. Another topic is the need to attract members to join the Board of Directors. Currently we only have eight Directors and we would benefit from an influx of new Board members with fresh ideas and experience. The requirement is not onerous (a 3-hour meeting every month) and, whilst the Board works hard, we enjoy the challenge of consistently improving the quality of our Club. Whether you are new to Whiteknights or a long-term member please give me a ring on if you are interested in joining the Board. You can be sure of a very friendly welcome. Finally, let me thank the many Whiteknights members who give their time and effort to help run our Club in many areas of activity. You do a tremendous job and your dedication is greatly appreciated. I hope all our members enjoy bowling at Whiteknights in the coming season and for many years to come. Edna Orchard - Chairman 2

4 Report of the Directors to the Members of Reading and District Indoor Bowls Club Ltd The Directors submit their report together with the financial statements for the year ended 30 th April Principal Activity The principal activity of the Company was to provide facilities for, and promote participation of the whole community in, the amateur sport of bowls. Directors and Attendances (maximum 13) The Directors holding office for the full year were: Mrs E Orchard (10), Mr A Herbert (13), Mr I Henry (13), Mr B Nursey (13), Mr M Jackman (13), Mr B Filsell (11), Mr M Holmes (11), Mrs J Holmes (10). Small Company Rules This report has been prepared in accordance with the provisions of Part 15VII of the Companies Act 2006 applicable to companies subject to the small companies regime. By Order of the Board of Directors Ian Henry Company Secretary 3

5 Balance Sheet as at 30 th April th April 2016 ASSETS EMPLOYED: Notes Fixed Assets Tangible 2b&5 15,600 18,720 Current Assets Stocks 5,809 6,465 Prepayments and accrued income 2,318 2,614 Cash at bank and in hand 151, , , ,311 Current liabilities Creditors: amounts falling due within one year 6 (28,960) (16,186) Net Current Assets 130, ,125 Net Assets 146, ,845 FINANCED BY: Capital and Reserves: Income and expenditure account 84,697 86,130 Specific short-term provisions Carpet Replacement Reserve 8 22,000 18,000 Repairs, Replacements & Improvements Reserve 9 39,620 61,620 27,715 45, , ,845 The Directors are satisfied that the Company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act. The Directors acknowledge their responsibilities for: (a) complying with the requirements of the Companies Act 2006 with respect to accounting records; (b) the preparation of accounts which give a true and fair view of the state of affairs of the company as at 30 th April 2017 and of its income and expenditure for the year then ended in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland and follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. E Orchard B J Nursey Approved by the Board of Directors on 26 th July

6 Income and Expenditure Account For the Year Ended 30 th April 2017 Year ended 30th April 2016 INCOME Green Fees 97,558 94,177 Subscriptions and Entry Fees 78,296 79,651 Sundries (net) 4,087 4, , ,353 Bar profit (Note 3) Bank interest receivable EXPENSES Administration Administrative fees and wages 46,071 43,260 Staff and miscellaneous meals 3,052 2,761 Travelling expenses Insurance 1,495 1,418 Postage, stationery and telephone 3,462 2,466 New Membership Programme 3,953 3,234 General expenses 7,822 6,682 Premises Ground rent Rates 3,709 3,691 Heat, light and water 30,354 27,063 Cleaning, laundry and equipment 14,189 13,030 Maintenance-contracts and minor repairs 7,892 6,354 Repairs replacements and improvements 12,337 23,154 Kitchen and dining facilities 1,459 11,068 Bowling sections (note 4) 11,999 14,373 Other items Examiner's remuneration 2,500 2,600 Bank charges VAT irrecoverable (Note 2c) 11,262 10,049 Depreciation 3,120 3,120 (165,871) (175,472) Surplus for the year 14,472 3,927 Transfers to/(from) reserves (Notes 7-9): Specific short-term provisions released/(provided) 12,750 Surplus for the year after short-term provisions 14,472 16,677 Carpet Replacement 4,000 4,000 Repairs, Replacements and Improvements 11,905 (15,905) 9,905 (13,905) (Deficit)/Surplus after taxation and transfers (1,433) 2,772 Balance brought forward 86,130 83,358 Balance carried forward 84,697 86,130 5

7 Notes to the Unaudited Financial Statements For the Year Ended 30 th April Status The Company is limited by guarantee of the members (not to exceed 1 per member) and is a mutually-trading association, not liable to Corporation Tax on its trading profit derived from members. The Company is registered in England. Its registered office is Beech Lane, Earley, Reading, RG6 5PT. 2. Accounting Policies a) The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard), with the exception of the format of the Income and Expenditure Account. The Income and Expenditure Account is presented in a format that has more relevance to the activities of the Company than those shown in FRS 102, but which the management has concluded gives a true and fair view of the Company s financial performance. b) Tangible Fixed Assets. The cost of leasehold buildings has been fully amortised over previous years. Depreciation of other fixed assets is calculated at 10% of cost per annum, being an approximation of the amount necessary to write down the cost to realisable value over the expected useful life. c) Value Added Tax. Income and expenditure is shown net of VAT except as follows: Where no VAT on a particular type of expenditure can be reclaimed, that expenditure is shown inclusive of VAT. Where VAT on expenditure is only partially recoverable, that expenditure is shown net of VAT and irrecoverable element is accounted for as VAT irrecoverable. 3. Bar Trading 2015/16 BAR: Sales 42,988 42,783 Less cost of sales: Opening stock 1,922 2,027 Purchases 22,355 22,281 24,277 24,308 Closing stock 1,944 1,922 22,333 22,386 Gross Profit 48.05% 20, % 20,397 Bar wages and National Insurance 18,026 17,276 Stock-taking Equipment and supplies 1,380 1,345 20,309 19,413 Net profit/(loss)

8 Notes to the Unaudited Financial Statements For the Year Ended 30 th April Bowling Section 2015/16 Expenditure: Affiliation fees and subscriptions 3,637 3,643 Honoraria Prizes 4,303 3,770 Sundry 2,359 3,331 Coaches 3,045 4,125 Travel, accommodation and meals 2,858 2,628 16,562 17,857 Income: Sponsorship and prizes 2,988 2,037 Raffles Club competitions 1, ,563 3,484 11,999 14, Tangible Fixed Assets Leasehold Bowling Improvements Green Total COST 197,120 31, ,320 DEPRECIATION At 1st May ,120 12, ,600 Charge for the year 3,120 3,120 At 30th April ,120 15, ,720 NET BOOK VALUE At 30th April ,720 18,720 At 30th April ,600 15,600 The net book value of leasehold buildings is nil, the cost having been fully written off over previous years. 6. Creditors th April th April Trade creditors 24,872 10,003 Accruals 4,088 6,183 28,960 16, Specific Short Term Provisions Balance at 1 st May - 12,750 Expenditure completed in 2015/16 - (12,750) Balance at 30 th April - - 7

9 Notes to the Unaudited Financial Statements For the Year Ended 30 th April Carpet Replacement Reserve Balance at 1 st May 18,000 14,000 Transfer from Income & Expenditure Account 4,000 4,000 Balance at 30 th April 22,000 18, Repairs, Replacement and Improvements Reserve Balance at 1 st May 27,715 17,810 Transfer equivalent to previous amortisation charge 8,905 8,905 Additional in respect of kitchen equipment 2,000 - Additional in respect of bar equipment 1,000 11,905 1,000 9,905 Balance at 30 th April 39,620 27,715 The Board has continued to update and review all assets of the Company and has currently identified that over the next 7 to 11 years in excess of 130,000 will be required for repairs, replacements and improvements to heating and air handling systems and to the flat and steel roofs. The above is a reserve to recognise this level of future expenditure as well as provision in respect of future expenditure on kitchen and bar equipment. 10. Capital Commitments The Company has contracted for the installation of LED lighting over the Bowling Green in the Summer of 2017 at an estimated cost of 35, Directors Remuneration Total Directors remuneration during the year was 9,000 (2015/16: 9,000). The average number of employees in the year was four. Independent Chartered Accountants review report to the directors of READING AND DISTRICT INDOOR BOWLS CLUB LIMITED We have reviewed the accounts of Reading and District Indoor Bowls Club Limited for the year ended 30 April 2017, which comprise the Income and Expenditure Account, the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). This report is made solely to the Company s directors, as a body, in accordance with the terms of our engagement letter dated 5th July Our review has been undertaken so that we might state to the Company's directors those matters we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company s directors as a body for our work, for this report or the conclusions we have formed. 8

10 Directors responsibility for the accounts As explained more fully in the Directors' Responsibilities Statement, the directors are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view. Accountants responsibility Our responsibility is to express a conclusion based on our review of the accounts. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to review historical financial statements and ICAEW Technical Release TECH 09/13AAF Assurance review engagements on historical financial statements. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics. Scope of the assurance review A review of the accounts in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these accounts. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accounts have not been prepared: So as to give a true and fair view of the state of the Company s affairs as at 30 April 2017, and of its result for the year then ended; In accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and In accordance with the requirements to the Companies Act A E DOWD Chartered Accountants Roentgen Court Roentgen Road Basingstoke Hampshire RG24 8NT 26 th July

11 Fees for the 2017/2018 Season Subscriptions Bowlers New Members joining after 1 st Jan Summer Membership (May to August 2018) Junior Bowlers (under 18 or in full time education) Social Social Members joining after 1 st Jan Late Payment A fine of will be levied on Bowling Members who do not pay the annual subscription by 16 th October Club Lockers/Door Passes Locker and key rental 3.00 Key deposit 2.00 Replacement keys 5.00 Replacement door passes 5.00 Rink Fees (per player) Members 1-hour session hour session hour session hour session hour session 4.50 National competitions, double session 5.00 Junior bowlers can roll-up for up to 2 hours for 1.00 per session (excludes league and representative games) Non-Members 2-hour sessions or less 5.00 EIBA Each player pays his/her own rink fees Club Competitions Quarter and Semi Finals charged at the normal green fees for the time taken for each game. Match Fees (per person) Playing in Friendlies for Whiteknights Home Away Note: reserves will pay any meal charge Non-playing reserves and supporters Fee charged by Club being visited Meal cost of Club being visited Note: For the Isle of Wight match Bowlers, reserves and supporters (including meal cost) Visiting Teams Berks County, Vice Presidents etc, GOL

12 Match Fees (per person) continued Fees for Representative Matches (i.e. Nationals) Home Rink Fee 5.00 Note: Tea and Biscuits normally supplied. Away If a meal is required this should be arranged with the Caterer on a personal basis. Rink Fees and Meals as charged by the Club being visited Travelling Expenses (when a coach is not provided) If the return mileage between Whiteknights and the away venue is greater than 60 miles, then the following mileage rates (per mile) will be paid for the use of private cars: 4 persons-40p, 3 persons-30p, 2 persons-20p, 1 person-10p. Failure to Arrive for Matches Leagues: In the event of a team failing to arrive for a match, they will be held responsible for the green fees for both sides, but this can be offset by any money recovered if any of those present have a roll-up. Other Fixtures: The same principle applies to individual, Club and National competitions whether they be singles, pairs, triples or rinks. Paying your Subscriptions (Closing date: 16 th October 2017) Failure to pay by the closing date will result in an additional fee of How to pay By Internet Banking The Club offers members the option of paying via Internet banking, but it is essential the following action is taken: 1. Payment is made to Sort code , Account No The payment reference should contain your membership number (obtainable from the Club manager) and your postcode 3. Please the Club manager (clubmanager@whiteknightsibc.co.uk) when you have made the payment giving full details (i.e. date of payment, membership number and amount). By cheque Made payable to: Reading and District Indoor Bowls Club Ltd. Please write Membership number and locker number (if applicable) on back of cheque. Place in an envelope available from the front desk and leave in the box provide. By cash To be paid to the Club manager or bar staff in a sealed envelope. Name, membership number or postcode to be written on the envelope. Payment for locker rental must be submitted with subscription. 11