Treasurer's Reports
These accounts, which are independently reviewed, are posted before each AGM for the Edward Alleyn Club membership. Any questions should be directed to the Hon. Secretary, Chris Heayberd.
- Income & Expenditure Account
- Net Assets of the Club
- Commitments made by the Club
- Read the full 2020 Account Report (PDF)
Income & Expenditure Account
Income & Expenditure Account
Total Income received in the year amounted to £34,577 (2019: £34,789) which is marginally lower than last year.
A significant and important part of the Club’s income is derived from the School Leavers subscription which has increased by
7.4% from £28,089 to £30,174.
The 200 Club generated a profit of £5,577 (2019:£5,722) which is slightly down on the prior year position.
In the year we have successfully replaced all members who have withdrawn from the Club, but have not attained full
membership. At end of the year membership stood at 194 which was the same as the prior year.
We are always keen to attract new members and would be pleased to hear from anyone who has an interest in
joining the Club.
We continue to receive investment income earned from the Club’s investments amounting to £1,787 (2019 - £1,644). The increase
is as a result of increased amounts held on deposit with United Bank Trust throughout the year when compared to last year.
During the year the Club received a total of £14,500 from the ACC, AOBFC & EATC which it paid over to the school as a
contribution towards the running costs of the Clubhouse and grounds at Burbage Road.
The income and costs arising from the EAC Dinner show that this year the event made a much increased loss of £3,000
compared to the prior year (2019: Loss £666) which can be primarily attributed to the costs of the hire of the venue.
This year the event was hosted by our President,The Rt Hon.The Lord Ajay Kakar at the Peers' Dining Room at the
House of Lords, whereas in the previous year we held the dinner in the school dining hall which is provided by the
school at no cost. The Dinner provides an important opportunity for Club Members and friends to meet and socialise
together and is not held to generate funds for the Club.
Total Costs in the year amounted to £32,450 (2019:£24,083) an increase of 34.7%
By far the largest proportion of these costs continues to be for the production and distribution of the Edward Alleyn Club
magazine which totalled £24,811 (2019 - £18,188). The magazine provides our principal and most important point of contact
with the membership and we expect costs to continue to rise as the membership expands and postage costs increase.
It is our intention to maintain the publication of the magazine in its current format for the foreseeable future.
The annual contribution paid over to the Alleyn Benevolent Fund is calculated at 20% of the School Leavers Subscriptions
and amounted to £6,035. In the prior the contribution was £5,618.
Sundry costs primarily relate to an EAC event held at the Globe Theatre in September 2019 and the costs of producing the
Cornflower leaflet for the school.
The outcome for the year shows that we recorded an excess of income over expenditure for the year of £2,127 (2019: £10,706)
Net Assets of the Club
Investments at Cost
Our investments are limited and are for the most part in the form of cash being held on a 100 Day notice deposit account
at United Trust Bank Limited and in a Business Direct 30 Day notice account at Bath Building Society.. There are very few
opportunities to generate a better return without substantially increasing the risk profile of the investment and so for the
foreseeable future cash will remain invested in interest bearing deposit accounts.
Commitments made by the Club
Read the full 2020 Account Report (PDF)
- Income & Expenditure Account
- Net Assets of the Club
- Commitments made by the Club
- Read the full 2019 Account Report (PDF)
Income & Expenditure Account
Income & Expenditure Account
Total Income received in the year amounted to £34,789 (2018: £33,613) which is 3.5% up on last year.
A significant and important part of the Club’s income is derived from the School Leavers subscription - 81% for the current year
compared to 84% in 2018.
The 200 Club generated a profit of £5,722 (2018:£5,857) which is slightly down on the prior year position.
In the year we have not been successful in replacing members who have withdrawn from the Club, which has meant
that membership numbers have reduced in the year with a membership at end of the year of 194 (2018:198 members).
We are always keen to attract new members and would be pleased to hear from anyone who has an interest in
joining the Club.
We continue to receive investment income earned from the Club’s investments amounting to £1,644 (2018 - £1,105). The increase
is as a result of increased amounts held on deposit with United Bank Trust throughout the year when compared to last year.
During the year the Club received a total of £4,500 from the AOBFC which it paid over to the school as a
contribution towards the running costs of the Clubhouse and grounds at Burbage Road.
The income and costs arising from the EAC Dinner show that this year the event made a much reduced loss of £666
compared to the prior year (2018: Loss £3,867). The reduction is because the event returned to the school dining hall which is
kindly provided by the school at no cost. In the previous year costs were incurred for the hire of venue at The Honourable
Society of Lincoln's Inn.The Dinner provides an important opportunity for Club Members and friends to meet and socialise
together. The Dinner is not held to generate funds for the Club.
Total Costs in the year before the special payment made to Alleyn's School in the previous year amounted
to £24,083 (2018:£25,950)
By far the largest proportion of these costs continues to be for the production and distribution of the Edward Alleyn Club
magazine which totalled £18,188 (2018 - £18,982). The magazine provides our principal and most important point of contact
with the membership and we expect costs to continue to rise as the membership expands and postage costs increase.
It is our intention to maintain the publication of the magazine in its current format for the foreseeable future.
The annual contribution paid over to the Alleyn Benevolent Fund is calculated at 20% of the School Leavers Subscriptions
and amounted to £5,618. In the prior the contribution was £5,619.
Sundry costs primarily relate to costs incurred for the EAC Lecture held in the Edward Alleyn Buidling in October 2018.
The Outcome for the year before the special payment to Alleyn's School made in the previous year
shows that we recorded an excess of income over expenditure for the year of £10,706 (2018: £7,663)
Net Assets of the Club
Investments at Cost
Our investments are limited and are for the most part in the form of cash being held on a 100 Day notice deposit account
at United Trust Bank Limited and in a Business Direct 30 Day notice account at Bath Building Society.. There are very few
opportunities to generate a better return without substantially increasing the risk profile of the investment and so for the
foreseeable future cash will remain invested in interest bearing deposit accounts.
Commitments made by the Club
Read the full 2019 Account Report (PDF)
- Income & Expenditure Account
- Net Assets of the Club
- Commitments made by the Club
- Read the full 2018 Account Report (PDF)
Income & Expenditure Account
Income & Expenditure Account
Total Income received in the year amounted to £33,613 (2017: £34,757) which is 3.3% down on last year.
A significant and important part of the Club’s income is derived from the School Leavers subscription - 84% for the current year
compared to 78% in 2017.
The 200 Club generated a profit of £5,857 (2016:£5,922) which is slightly down on the prior year position.
In the year we have been successful in replacing members who have withdrawn from the Club, which has meant
that membership numbers have been broadly the same throughout the year with a membership at end of the year of
198 (2017: 199 members) We are always keen to attract new members and would be pleased to hear from anyone who
has an interest in joining the Club.
We continue to receive investment income earned from the Club’s investments amounting to £1,105 (2017 - £1,560). The reduction
when compared to last year is as a result of the reduced interest rates available to the Club.
During the year we sold 9,176.208 M & G shares at 62.88p and realised a profit of £2,423 which reduced our
holding from 21,934.464 shares to 12,758.256 shares held at 31 July 2018
During the year the Club received a total of £8,000 from the AOBFC & AOBCC which it paid over to the school as a
contribution towards the running costs of the Clubhouse and grounds at Burbage Road.
The income and costs arising from the EAC Dinner show that this year the event made a loss of £3,867 (2017 Profit of £236).
which can be primarily attributed to the costs of the hire of the venue.This year the event was hosted by our President, John Battle,
at The Honourable Society of Lincoln's Inn, whereas in the previous year we held the dinner in the school dining hall which is
kindly provided by theschool at no cost. The Dinner provides an important opportunity for Club Members and friends to meet
and socialise together. The Dinner is not held to generate funds for the Club.
Total Costs in the year before the special payment made to Alleyn's School amounted to £25,950 (2017:£24,484)
By far the largest proportion of these costs continues to be for the production and distribution of the Edward Alleyn Club
magazine which totalled £18,982 (2016 - £15,477). The magazine provides our principal and most important point of contact
with the membership and we expect costs to continue to rise as the membership expands and postage costs increase.
It is our intention to maintain the publication of the magazine in its current format for the foreseeable future.
This year the Club has increased its annual contribution from 10% to 20% of the School Leavers Subscriptions
which it pays over annually to the Alleyn Benevolent Fund. The increased contribution amounted to £5,619. In the prior
year the contribution of £7,701 included a one off payment of £5,000. - (Note 8)
Other costs incurred in the year were for the purchase of a defibrillator for the Clubhouse, a one off contribution towards
the production & publication costs of a book recording the history of AOBFC plus sundry costs to support the running of the Club.
As highlighted in last year's accounts the Club committed and has now made a Contribution of £40,000 towards the
costs of substantial drainage works, which have been carried out at Burbage Road in order to provide the Sports
sections with much improved playing conditions, which it expects to last for very many years.
The Outcome for the year before the special payment to Alleyn's School shows that we recorded an excess
of income over expenditure for the year of £7,663 (2017: £10,273)
Net Assets of the Club
Investments at Cost
Our investments are limited and are for the most part in the form of cash being held on a 100 Day notice deposit account
at United Trust Bank Limited and in a Business Direct 30 Day notice account at Bath Building Society.. There are very few
opportunities to generate a better return without substantially increasing the risk profile of the investment and so for the
foreseeable future cash will remain invested in interest bearing deposit accounts.
Commitments made by the Club
Debtors
There is an amount of £3,000 (2017: £6,000) which is an interest free loan provided to the Edward Alleyn and Honor Oak Cricket Club on 5 June 2014, which is being repaid in equal instalments over a 5 year period. In addition there is an amount of £2,500 which is a loan provided in July 18 to the AOBCC which is repayable in September 2018 and an amount of £3,750 which is an interest free loan provided in July 18 to the AOBFC which is being repaid in equal instalments over a 3 year period.
Chris Heayberd
Hon. Treasurer
13 November 2018
Read the full 2018 Account Report (PDF)
Income & Expenditure Account
Total Income received in the year amounted to £34,757 (2016: £31,469) which is 10.45% up on last year.
A significant and important part of the Club’s income is derived from the School Leavers subscription - 78% for the current year compared to 75% in 2016.
The 200 Club generated a profit of £5,922 (2016:£6,628) which is slightly down on the prior year position before the write back of overstated provisions which occurred last year. In the year we have been successful in replacing members who have withdrawn from the 200 Club which has meant that membership numbers are up on the previous year at 199 (2016: 195 members) We are always keen to attract new members and would be pleased to hear from anyone who has an interest in joining the Club.
The income and costs arising from the EAC Dinner show that this year the event made a small profit of £236 (2016 Loss of £256).
The purpose of the Dinner is provide an important opportunity for Club Members and friends to meet and socialise together and is not held to generate funds for the Club.
We continue to receive investment income earned from the Club’s investments amounting to £1,591 (2016 - £1,543) which is in line with the income generated in the prior year.
Total Costs in the year amounted to £24,484 (2016: £23,215).
By far the largest proportion of these costs continues to be for the production and distribution of the Edward Alleyn Club Magazine which totaled £15,477 (2016 - £15,996). The magazine provides our principal and most important point of contact with our membership and, whilst costs were marginally lower this year, we expect them to continue to rise as the membership grows and postage costs increase. It is our intention to maintain the publication of the magazine in its current format for the foreseeable future.
In addition to the 10% of the School Leavers’ Subscriptions which the Club pays over annually to the Alleyn Benevolent Fund, the Club increased its contribution by making a one-off donation of £5,000 to make a total contribution for the year of £7,701 (2016: £2,355).
Other costs incurred in the year were for a Gap Year Bursary, Advancing Alleyn's mailshot leaflets plus sundry costs to support the running of the Club.
The outcome for the year shows that we recorded an excess of income over expenditure for the year of £10,273 (2016: £8,254)
Net Assets of the Club
Investments at Cost
Our investments are limited and are for the most part in the form of cash being held on a 100 Day notice deposit account at United Trust Bank Limited and in a Business Direct 30 Day notice account at Bath Building Society. There are very few opportunities to generate a better return without substantially increasing the risk profile of the investment and so, for the foreseeable future. cash will remain invested in interest bearing deposit accounts.
Debtors
Within debtors is an amount of £6,000 (2016: £9,000) which is an interest free loan provided to the Edward Alleyn and Honor Oak Cricket Club on 5 June 2014, which is being repaid in equal instalments over a 5 year period.
Commitments made by the Club
For a number of years poor drainage at Burbage Road has increasingly impacted on the playing conditions for our Football and Cricket sections. As part of the Club's continuing commitment towards supporting the costs of running the Clubhouse and Grounds it has indicated a willingness to provide up to £40,000 (from a combination of its reserves and funding from the Football and Cricket sections). This will assist with the substantial drainage works, which are now considered necessary to provide the Sports sections with much improved playing conditions which it expects to last for very many years.
I should like to place on record my thanks to Richard Foster, AOB, for conducting an Independent Examination of these Accounts.
Chris Heayberd
Hon. Treasurer
14 November 2017
NOTE.
Please note that there are minor changes to the 2015 accounts, which were previously published.
Income & Expenditure Account
Total Income received in the year amounted to £29,369 (2015: £33,227) which is 11.6% down on last year.
80% (2015:70%) of the Club’s income was derived from the School Leavers subscription (which after paying 10.00% (2015:10.00%) of the amount received to the Alleyn Benevolent Fund) amounted to £21,198 (2015 - £23,277). This continues to be a very important element of the Club’s income.
The 200 Club generated a profit of £6,628 (2015:£7,812) which compares favourably with the prior year position before the write back of overstated provisions which occurred last year. In the year we have been successful in replacing members who have left the Club which has meant that membership numbers have remained similar to the previous year at 195 (2015: 194 members) We are always keen to attract new members and would be pleased to hear from anyone who has an interest in joining the Club.
We continue to receive investment income earned from the Club’s investments amounting to £1,543 (2015 - £1,678) – This shows a slight reduction on last year resulting from the decreased interest earned on funds held with Skipton International Limited.
Total Costs in the year amounted to £21,115 (2015: £20,840).
By far the largest proportion of these costs continues to be for the production and distribution of the Edward Alleyn Club magazine which totalled £15,996 (2015 - £17,803). The magazine provides our principal and most important point of contact with the membership and, whilst costs were lower this year we expect costs to continue to rise as the membership expands and postage costs increase. It is our intention to maintain the publication of the magazine in its current format for the foreseeable future.
Other costs incurred in the year were for a Gap Year Bursary, the Club Dinner, plus sundry expenses and payments to the school which included a contribution of £1,200 towards the cost of curtains for use in the school dining hall and a contribution of £3,000 towards the costs of the Rhythm for Reading initiative undertaken by the school.
The outcome for the year shows that we recorded an excess of income over expenditure for the year of £8,254 (2015:£12,387)
Net Assets of the Club
Investments at Cost
Our investments are limited and are for the most part in the form of cash being held on a three month notice deposit account at Skipton International Limited. There are very few opportunities to generate a better return without substantially increasing the risk profile of the investment and so for the foreseeable future cash will remain invested on an interest bearing deposit account.
Conclusion
The finances of the Club remain broadly the same as last year. This year (as was the case last year) we have not made a contribution towards the costs of running the Clubhouse and Grounds at Burbage Road but will continue to support additional investment in Burbage Road when it is specifically needed.
Change from Audit to an Independent Examination of the Accounts of The Edward Alleyn Club
Approval will be sought from Members at an Extraordinary General Meeting to be held immediately following the AGM on 8 November 2016 to change the constitution of the Edward Alleyn Club, which currently requires that the accounts of the Club be audited, to requiring an independent examination. This is a simpler requirement than an audit but still involves a review of the accounting records kept by the club and a comparison of the accounts presented with those records. It also involves a review of the accounts and the consideration of any unusual items or disclosures identified.
The change proposed by the Management Board has been prompted by the much reduced size and complexity of the Club which the Management Board consider is unsuited to the rigours of an audit.
Chris Heayberd
Hon. Treasurer
September 2016
Income & Expenditure Account
Total Income received in the year amounted to £33,227 (2014: £27,777) which is 20% up on last year.
70% (2014:75%) of the Club’s income was derived from the School Leavers subscription (which after paying 10.00% (2014:11.4%) of the amount received to the Alleyn Benevolent Fund) amounted to £23,277 (2014 - £20,816). This continues to be a very important element of the Club’s income.
The 200 Club generated a profit of £7,812 (2014:£5,315) well up on last year which is explained by the writing back of overstated provisions from prior years . In the year we have been successful in replacing members who have left the Club and, as a consequence, we have had a slightly higher membership throughout this year which has averaged at 194 (2014: 192 members) We are always keen to attract new members and would be pleased to hear from anyone who has an interest in joining the Club.
We continue to receive investment income earned from the Club’s investments amounting to £1,678 (2014 - £1,636) – This shows a slight uplift on last year which reflects a small increase on the dividend received from the Unit Trusts that we hold within the M & G Dividend Fund.
In the year HM Treasury advised that they were repaying the 3 ½ War Loan stock which the Club has held for many years the proceeds being shown as income amounting to £460.
Total Costs in the year amounted to £20,840 (2014: £18,708 before deduction of £10,000 paid to the school).
By far the largest proportion of these costs continues to be for the production and distribution of the Edward Alleyn Club magazine which totalled £17,803 (2014 - £15,081). The magazine provides our principal and most important point of contact with the membership and, although we expect costs to continue to rise as the membership expands and postage costs increase, it is our intention to maintain the publication of the magazine in its current format for the foreseeable future.
Other costs incurred in the year were for Reunions, Gap Year Bursaries, the Club Dinner, plus sundry expenses and a contribution of £1,859 towards the costs of a dinner held at the school to celebrate the 40th Anniversary of the introduction of Co Education at Alleyn’s.
The outcome for the year shows that we recorded an excess of income over expenditure for the year of £12,387 (2014: loss of £931)
Net Assets of the Club
Investments at Cost
Our investments are limited and are for the most part in the form of cash being held on a three month notice deposit account at Skipton International Limited. There are very few opportunities to generate a better return without substantially increasing the risk profile of the investment and so for the foreseeable future cash will remain invested on an interest bearing deposit account.
Conclusion
The finances of the Club remain broadly the same as last year. This year we have not made a contribution towards the costs of running the Clubhouse and Grounds at Burbage Road but will continue to support additional investment in Burbage Road when it is specifically needed.
Change from Audit to an Independent Examination of the Accounts of The Edward Alleyn Club
Approval will be sought from Members at an Extraordinary General Meeting to be held immediately following the AGM on 8 November 2016 to change the constitution of the Edward Alleyn Club, which currently requires that the accounts of the Club be audited, to requiring an independent examination. This is a simpler requirement than an audit but still involves a review of the accounting records kept by the club and a comparison of the accounts presented with those records. It also involves a review of the accounts and the consideration of any unusual items or disclosures identified.
The change proposed by the Management Board has been prompted by the much reduced size and complexity of the Club which the Management Board consider is unsuited to the rigours of an audit.
Chris Heayberd
Hon. Treasurer
16 August 2016