Finance Notes for the accounts for 2017
This is now the 2nd complete year where the current Management Team have been responsible for all aspects of our organisation. With regard to the finances these have bedded in well with only minor adjustments.
Competition Account: As with last year the biggest challenge remains forecasting match costs against predicted playing numbers, an 18 months process is finalised half way through the previous year. As I predicted at last year’s AGM the competition account for 2017 has shown a greater surplus than anticipated due to the numbers who played Littlestone in March 2017 which were greater than those predicted. The remaining 7 matches came out more or less as forecast. This surplus is now being used in the planning for years 2019 & 2020, thus in effect rebating back match fees to you the players who contributed to the surplus. The initial forecast for 2018 shows a deficit in the order of £1,800 partly due to our hosting the Devon & Cornwall matches.
Charity Account: Our usual donation of £2,000 plus the agreed additional £1,000 to the Kent Air Ambulance Trust. The Captain’s Charity donation for 2017 being Marie Curie Cancer Trust. We have received a letter of thanks from both organisations.
Statement of Accounts & Balance Sheet: As expected by the large surplus on the Littlestone match our Bank Current Account shows an increase of £1,700 this is offset by the £1,200 transfer to future match rebates during 2019 & 2020 as part of the 18 month planning schedule. Our bottom line sits much as at 2016 as I predicted at last year’s AGM. As outlined above, this will now start to decrease in a planned and manageable fashion. With the adjustments Income over Expenditure shows a surplus of £42.
As previously stated I have, for simplicity, kept these accounts as compact as possible, if anyone would like to see greater detail on any aspect I am happy to supply it to them at a convenient date.
The accounts presented were compiled from data supplied by the Management Team. The auditor’s signature confirms that they reconcile to the AKVG bank account. I therefore commend them for your approval.
Martyn Dines
Honorary Treasurer