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The Treasurer's Report

The Wyvern Club

New members always welcome

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Good evening

Firstly, like the previous speakers I would like to pass on my thanks to all the individuals involved in running the Club.

As you are already aware my wife and I have decided to stand down as Treasurer, this is mainly due to our ever increasing commitments outside of the Club.

I have placed copies of the 2016 accounts on the tables and as you can see we have made a surplus of over £44,000 for the year ending 31st December 2016. This compares to the previous year’s surplus of around £54k.

I will go through a few key points:

  • The Bar Sales have been maintained, which is very good.

  • The Income from the Hall Hire has dropped but it is still good at almost £15k.

  • The profit from the various Gaming Machines has continued to increase and is up from £38.8k to £46.5k.

  • There was an increase in the losses from the Social Events. However, some of that would have been offset by the associated increase in bar sales. Carol and the entertainments sub-committee have worked extremely hard in trying to make these events a success but unfortunately they have not always attracted sufficient support from the membership. I have attended a number of these events and they have all been very enjoyable and are excellent value for money.

  • The Total Expenditure has increased from £84.6k to £97.3k, this is largely due to :-

    • The increase in the Repairs and Maintenance expenditure. This included :-

      • Inspection and maintenance of the sewers – Cameras were used to inspect the drains and found that there was some damage due to tree roots and also a build-up of lime-scale, all of this has now been rectified.

      • The Car Park has been completely resurfaced and the parking bay identification has been repainted.

    • The increase in the Administration Costs is largely due to the increased Honorariums.

    • The increase in the Sundry items includes the purchase of a projector, the recovering of the snooker table and the purchase of a Portable Appliance Tester (PAT). The PAT is used by Keith Horsfall who kindly does the mandatory electrical safety checks on the Club’s portable appliances. Thanks to Keith for all his work in carrying out these checks.

If anyone wants any further explanation of the accounts then feel free to contact me and I will clarify any issues or queries.

Key Points during year:-

  • As you are aware there was a donation of £2000 to the Club Charity for 2016/7.

  • On the 1st August 2016 the Club implemented the Governments Work Place Pensions scheme. I am pleased to say that we have fulfilled all of our requirements in this area and have completed our Declaration of Compliance with the Pension Regulator.

  • The Committee have agreed to increase the Clubs contingency fund to £150k, previously we held £60k but this proved to be woefully inadequate when maintenance was required on the external walls, that maintenance alone cost over £90k.

  • As I expect many of you are aware the interest paid on bank accounts is no longer taxed at source. However, as a Private Members Club we are liable for tax on this income. I asked our banks if this could be taken at source but they said that was not possible, we will therefore have to start a dialog with HMRC. When I contacted HMRC they asked if we have had any previous communication from them regarding the Clubs tax status, if we did not have any then we will have to provide them with copies of our latest accounts and Club rules. They will then review the Clubs tax status.

I am not in a position to predict what the outcome will be but I believe it would be prudent for the Club not to make any major changes to its structure or procedures until we obtain feedback from HMRC.

  • On a related matter, Making Tax Digital for business is a Government project that will put all tax information together in one online place. To ensure we can comply with this the Club will have to move from manual ledgers to an online accounting system. This is likely to start around April 2018 but this date is subject to change after ‘Making Tax Digital’ was removed from a revised Financial Bill 2017 due to the snap General Election on the 8th June.

All in all it has been another very successful year mainly thanks to the small dedicated team who oversee the club.

Phil Robinson


The Wyvern Club Opening Hours

Monday to Thursday 19:30 - 23:30

Friday 19:00 - Midnight

Saturday 12:00 - midnight

Sunday 12:30 - 22:30.

Club Calendar

Our Address

The Wyvern Club

51a Church Walk
SN10 3AA

Tel/Fax: 01380 724544



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