Dear fellow Towcestrians
As we enter a new financial year at Towcestrians, I thought I should bring you up to date with what has been happening over the last year here at Tows.
We have come through a couple of tough financial years where, because of some of the improvements and expansion plans together with extra playing facility costs, which have cost slightly more than anticipated, we have had to look closely at all of our expenditure and as a result we have had an in depth look at our structure and thoroughly examined all of our costs both in house and by each playing section.
This has resulted in us splitting the running of the club into two entities. CASC, which stands for Community Amateur Sports Club, is in effect all the playing sections reporting into the General Committee who effectively runs the everyday business of the sections. This CASC status also allows us to have exemptions for charging VAT on subscriptions,, fundraising and other items as well as us becoming exempt from council tax.
The second half of the new Towcestrians is “Towcestrians Ltd”. A limited company run by members of the GC who have more specialist skills to run what is now, in effect, a medium size business and needs to be run as such. “Tows” Ltd is responsible for all the building, costs and revenues. This does attract VAT but it also enables us to claim some VAT back. Towcestrians Ltd does not own anything. All the assets and property of the club is still under the control of Towcestrians Sports Club General Committee and it’s trustees.
This has led us to examine every item of expenditure and as a result enabled us to make considerable savings. We now run a very tight ship and all aspects of the club is run to strict budgetary controls. This now shows a projected healthy profit for the year ahead despite increased playing costs notably in the Senior Rugby Section following their tremendous efforts on the pitch resulting in promotion to the National leagues and joining the elite 128 clubs in England!
All the profit the club makes is ploughed back into the club facilities and this year most will be spend on our playing surfaces.
As most of you will now have seen we have completed our final internal expansion plans for the time being, with the beautiful new entrance and members lounge. This not only enables the members to have a great, comfortable room to go to when we are having functions on in the main bar but during the week we are hiring it out as a meeting room for much needed revenue.
Club hire, both during the week and at the weekend is a VERY important part of our income and this year we hope to make full use of it. If you are thinking of having a function or indeed you are looking for a place to hold business meetings please contact us at: email@example.com for rates and availability. We are very competitive and members get special rates on top of that.
Another an obvious source of great revenue for us if of course the Bar, which not only is used after matches and training but of course for functions etc. It is though in need of renovation and refurbishment. We are very lucky to announce we have a sponsor who is putting forward the money to have the bar revamped and hopefully this will take place very soon, all will be revealed..
The main clubhouse is now in need of redecoration and we will be starting this very shortly. We aim to cause as little disruption as possible but please bear with us, it will be worth it!
The other, and some may say, the most important income stream to help run the club is the generosity of our sponsors, who continue to support us. Some have done so for years while new ones this year have led to our best ever support.
Thank you all very much.
As we start our new year, which coincides with the start of new playing seasons for Hockey, Rugby and Tennis winter leagues. I, on behalf of the General Committee, wish you all well, whether as a player, coach or supporter.
I look forward to seeing you at YOUR Towcestrians!
Towcestrians sports Club