Finance Report 14th September 2022
The Bank balances as at 13 th September are £89k
Members Loans at £36,000 are all currently due to be paid back in Aug 2022.
All members were prepared to roll on their loans but we have chosen some to
pay back which total approx. £12k, leaving £24k of extensions to carry
forward. We intend to pay these back over the next 2 years to leave us debt
free, as per our original plan in 2019.
Roof repairs completed in line with quote at £18k.
21/22 Accounts will be sent off by next week.
22/23 1 st Quarter P&L Actuals were in line with budget.
Half year ( Apr 1 st 2022 to 30 th Sept 2022 ) Finance Summary to be completed
by the end of October 22 including a review of margins on food and drink .
Still awaiting VAT registration confirmation, despite numerous calls.
Insurance renewal (Sept 22) being reviewed.
OTHER FINANCE AGENDA ITEMS
Possible Flexible Membership category being considered circa £400 per
o No residence or not 1 st residence on the Island
o Already a Member of another club (not on the island) ??
o Want/Only able to play for an average of approx. 6 months of the year
or maximum number of times.
o Play in competitions but not individual trophy/shield events.
o This fills a gap between Country Members and Full members.
o This would apply to about 4 currently, may attract more.
o Articles will need to be amended to include if accepted
3 rd Fairway netting finally erected in mid-July but some issues remain, and still
chasing posts/signs chased again late July, Aug & early Sept.
Electricity& Gas renewals due end November 22.