John O’Gaunt Seniors Section
Treasurers Report- Final
Calendar Year 2024 – ending 31/12/2024.
Attached to this report are the Audited Accounts for the last Calendar year, Balance Sheet,
and Prior year comparison.
Another year of successful Senior’s activities comes to an end. I’m pleased to report that
from a financial point of view we have achieved our objectives and are well positioned as a
section financially moving into 2025. More of this in a moment. Prior to this I’d like to
reiterate my thanks to Trevor Darrington who once again has provided his professional
expertise to the Audit of these accounts.
We set out this year to manage a tight budget and minimise the impact of high inflationary
pressures through good husbandry. The Seniors section looks to make a very small margin
on all activities, whilst also allowing ourselves to meet the desire to help our community.
This is achieved through our contributions to the Captain's chosen Charity, and assistance to
the Junior section.
Most of our revenue is derived from members playing in Competitions, Inter Club Matches
and participation in Seniors organised events. In all cases Costs pretty much match Revenues
and managing our cashflow is crucial. With fantastic support from fellow committee
members responsible for these activities we have been able to provide a very active
programme and meet our financial objectives.
We treat each event as a small project – each with a budget for income and expenditure.
This year our activities covered 55 such projects. Keeping on top of this level of financial
transactions requires the whole team to work closely and in harmony. I’d like to thank all the
committee members involved for getting us through this – and all have a smile on their
faces!
I’d also like to recognise the great assistance we get from the Club staff – House
management and Finance. Without their help this job would be very difficult.
We end the year with £8893 in our bank account. However, considering prepayments,
creditors and debtors, and accruals for costs not yet received this is reduced to £2496. We
started the year with £2418 in available funds – so you can see that overall difference
between costs and revenue is as low as £79! However, the final balance includes a payment
from our Seniors funds of £3500 to the Seniors Captain's chosen Charity. Many of our
significant costs appear over the last month of the financial year – Christmas Fayre, Annual
Dinner and Charity donation. It takes a little time for these costs to work their way through
to our Bank account – hence the need for the accruals.
Also, at the end of the year we are holding funds for the 2025 Golf tour at Forest Pines. This
promises to be a great 2-day event in May. In this year’s accounts I have classified
these moneys as ‘Prepayments’ of costs and revenues.
The Accounts identify that the 21 Competitions generated income of £6014 before
allocation of the Captain’s charity payment. Direct costs against this are £3194.42, leading to
a surplus of £2820. Inter Club Matches provided an income of £10904, and through careful
controls over costs led to a small surplus of £965. This is a significant achievement by Algy
and his team of Organisers.
During the year we have also spent £662 on New Club House Boards and Trophy engraving.
We have also now purchased a small scorecard printer for £148.98 (including supplies) to
enable our Competions team to produce their own cards.
Our total contribution to the Captain’s charity is £6590. This includes Richard’s allocation of
the combined Captain’s efforts which generated £3090. As mentioned above we have been
able to generate £3500 from our funds. In addition, in 2025 a further £50.25 has also been
added from BHF collection tins. This makes the final total to be paid to the Charity of £6640.
We are delighted to pay this amount to The British Heart Foundation and hope this in some
ways helps achieve their extremely worthy cause.
In addition to the Charity, we have also been able to repeat previous years donation to the
Juniors section.
At the beginning of the 2024 year the committee set a Budget for the year. A comparison
shows a surplus (net of adjustments) of £78 compared with a budget of £597. However, the
Budget did not include the increased Charity donation or the new Honours Boards. For our
main categories of activity, the variances are minor:
- Competions £6014 versus a budget of £6361
- Inter Club Matches - £10904 vs £10944
- Events - £7803 versus £6175
Looking forward to 2025 my objectives from a financial perspective are
- Ensure we support the Section's many activities and continue to make a small
contribution
- Support Seniors committee on all new ventures and challenges
- Look to continue to simplify the accounting process and provide more rapid insight
into our financial activity
Barry Donovan
Honorary Treasurer – JOG Seniors
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