Treasurers Report 2024 

 

I am pleased to present the financial report for the year ending 31st December 2024. 

EXECUTIVE SUMMARY 

Total Income (excluding inter-account transfers):  £27,214.60 

Total Expenditure (excluding inter-account transfers):  £26,778.67 

Net Surplus: £435.93 

INCOME BREAKDOWN 

The club's total income for 2024 was £27,214.60, derived from the following sources: 

Bar Revenue: £19,198.67 

Match Fees: £2,928.00 

Donations: £2,700.00 

Subscriptions: £2,040.00 

Fundraising: £2,185.00 

Ground Hire: £1,460.00 

Nets: £878.00 

Miscellaneous: £29.59 

Our largest source of income was the bar, which generated £19,198.67 in revenue. This was supplemented by match fees, member subscriptions, generous donations, and successful fundraising activities throughout the year. 

EXPENDITURE BREAKDOWN 

The club’s total expenditure for 2024 was £26,778.67, allocated as follows: 

Bar Invoices (Stock & Supplies): £16,686.10 

Ground Maintenance: £4,883.31 

Electric: £3,818.89 

Insurance: £1,101.63 

Ground Equipment: £1,086.78 

KCVL/KCB Fees: £570.40 

Nets: £541.65 

Broadband: £539.88 

Water: £284.54 

Pavilion Maintenance: £283.35 

Miscellaneous: £194.27 

Website: £184.08 

TV Licence: £166.00 

Fundraising Invoices: £76.99 

Bank Charges: £60.80 

The largest single area of expenditure was the bar (£16,686.10), which directly supports our bar revenue. Other major costs included ground maintenance (£4,883.31) and utilities (£4,103.43 combined for electric and water), which are essential for maintaining our facilities to a high standard. 

BANK ACCOUNT SUMMARY 

Opening Balances (1 January 2024): 

Current Account:  £100.49 

Deposit Account:  £0.11 

Fundraising Account:  £5,475.77 

Bar Account:  £534.63 

Total Opening Balance:  £6,111.00 

 

Closing Balances (31 December 2024): 

Current Account:  £461.02 

Deposit Account:  £0.11 

Fundraising Account:  £4,402.87 

Bar Account:  £1,617.20 

Total Closing Balance:  £6,481.20 

Net Increase in Cash: £370.20 

FINANCIAL ANALYSIS 

Bar Operations: 

The bar was the club's largest revenue generator, with income of £19,198.67 against costs of £16,686.10, producing a gross profit of £2,512.57 adjusted to £1,012.57 as we had a £1,500 compensation payment from Heineken due to chiller issues that cost us in utility expense. This represents a healthy profit margin and demonstrates the success of our bar operations. 

 

Overall Financial Position: 

The club generated a net accounting surplus of £435.93 for the year. Our total cash reserves increased by £370.20, from £6,111.00 to £6,481.20. The small difference of £65.73 between the accounting surplus and cash movement represents normal timing differences in receipts and payments. 

The club maintains a sound financial position with adequate reserves across all accounts: 

- Current Account: £461.02 (for day-to-day operations) 

- Fundraising Account: £4,402.87 (Savings account) 

- Bar Account: £1,617.20 (for bar stock and operations) 

- Deposit Account: £0.11 

 

2024 SUMMARY 

2024 was a successful year financially. The bar operation performed well and is back to profit. We maintained steady income from traditional sources including match fees, subscriptions, and donations. 

Our main operational costs continue to be ground maintenance and utilities, which are essential investments in maintaining our facilities to the high standard our members expect and deserve as well as providing a facility to generate significant income from ground hire from the Kent and Surrey senior teams and Sevenoaks Wednesdays. The committee has managed these costs prudently while ensuring the club remains a welcoming and well-maintained venue. 

The club is in a healthy financial position with total reserves of £6,481.20, representing an increase of £370.20 over the year. This provides us with financial stability, however our utility costs especially electricity is a major challenge and if we can look at significant reductions here we would be generating a strong profit year on year. 

I would like to thank all members for their continued financial support through subscriptions, match fees, bar purchases, and participation in our fundraising activities. Special thanks to Kevin and Jo for their outstanding work in generating significant revenue and profit for the club through the bar and fundraising activities. 

The committee will continue to manage the club's finances responsibly while ensuring we invest appropriately in maintaining and improving our facilities for the benefit of all members. 

Note: These figures exclude inter-account transfers (£4,204.66 in transfers recorded as income and £3,700.00 recorded as expenditure), which represent movements of money between the club's different bank accounts and do not constitute actual income or expenditure. 

Greg Langridge 

Club Treasurer

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