BROADBRIDGE HEATH TENNIS CLUB

BBHT Tennis Club – Financial Report to Accompany Accounts to 30 September 2007
Summary
Income up 16.5%.
Expenditure down 47.4% including Court Maintenance
Expenditure up 76% excluding Court Maintenance
Expenditure net of Court Maintenance excluding late 2006 coaching costs and tennis balls bought to be re-sold, up £185 or 22%.

Income
Subscription rates have not been increased for [4] years.
In aggregate subscriptions are up 20% to just under £3,000 reflecting an increase of members up approx [15] on 2006 and continues the trend of rising subscription income since 2005 and is +£300 (12%) higher than 2004.
Visitor fees are down 3% on 2006 at £329.
Bank interest is down 1.2% reflecting lower bank balances following the court resurfacing last year largely off-set by an increase in interest rates.

Deposits
Balances in excess of £10k accrue interest @ 3.52% (net) pa.
Balances between £5k and £10k accrue interest @ 2.48% (net) pa.
Balances dipped below £10,000 for 1 month (April).
The club banks with Carter Allen Private Bank a subsidiary of Abbey National which unconditionally guarantees deposits.
Abbey National is a subsidiary of Santander Group, a Spanish Bank.

Expenditure
Court Maintenance includes:-

Pathway materials - £276
Tree Surgery - £600
Court Screens & lettering - £383
2 Benches - £100
2 Championship scorers - £118
2 Centre Net Bands - £22

Coaching includes a late 2006 invoice for £272 which if excluded results in a £98 coaching surplus for 2007.
Sussex LTA membership up 13% reflecting increasing members and [3]% rise in membership rates.
Tennis balls up £180 reflecting stock to be re-sold to members at £[3]/tube.
AGM and committee costs up £147 reflecting tickets for the Blackstone Masters (£54), higher than normal attendance at the 2006 AGM and committee meetings.
BBQ and finals day up £53 reflecting the fact that the May 2006 BBQ was rained-off.

Other Matters
Bank balance at 30 September 2007 was £11,892.
Appointed Auditor J P Whitty.
Audit certificate issued for the period ending 30 September 2007 confirming the accounts as “an accurate summary of the details within those financial records”.
2008 Projects to be agreed at the AGM:- Path extension, fence maintenance and on-going court maintenance, other proposals to be identified.
Agree 2008 membership subscription rates.