Meeting documents

Board of Trustees of the Recreation Ground, Bath
Wednesday, 6th June, 2007

accounts

Recreation Ground, Bath Trust - Accounts 2002/03 to 2006/07

           
                     
                   

from Aug '02

   

2006/07

 

2005/06

 

2004/05

 

2003/04

 

2002/03

   

£

 

£

 

£

 

£

 

£

Bath Rugby Club

                   

Income collected by B&NES

 

109,233

 

86,847

 

21,398

 

39,316

 

29,608

Income collected by receiver

         

72,571

 

26,371

   
   

109,233

 

86,847

 

93,969

 

65,687

 

29,608

                     

Expenditure

                   

Ground Maintenance apportionment

 

10,668

 

10,747

 

11,217

 

11,137

 

7,894

Management & Administration apportionment

 

24,805

 

16,146

 

13,948

 

9,991

 

-

Servicing Trust Meetings apportionment

 

2,005

 

2,430

 

1,603

 

-

 

-

Business rates

 

6,357

 

5,320

 

5,476

 

-

 

-

   

43,835

 

34,643

 

32,244

 

21,128

 

7,894

                     

Surplus/(deficit)

 

65,398

 

52,204

 

61,725

 

44,559

 

21,714

                     

Other Income

                   

Income collected by B&NES

 

23,766

 

14,583

 

10,194

 

13,916

 

5,210

Income collected by receiver

         

6,100

 

3,050

   
   

23,766

 

14,583

 

16,294

 

16,966

 

5,210

                     

Expenditure

                   

Grounds maintenance apportionment

 

37,825

 

38,102

 

39,771

 

39,485

 

27,986

Management & Administration

 

10,630

 

6,920

 

5,978

 

4,282

   

Servicing Trust Meetings

 

859

 

1,041

 

687

       

Business rates

 

1,191

 

1,161

 

6,270

 

5,661

 

4,417

Repairs & Maintenance

 

-

 

6,864

 

9,135

   

Utilities & Other Costs

 

6,337

 

5,113

 

4,413

 

3,462

 

2,482

   

56,842

 

59,201

 

66,254

 

52,890

 

34,885

                     

Surplus/(deficit)

 

-33,076

-

-44,618

-

-49,960

-

-35,924

-

-29,675

                     

Net Operational Surplus/(deficit)

 

32,322

-

7,586

-

11,765

-

8,635

-

-7,961

                     

Leisure Centre

                   

Income

           

291,546

 

746,667

Car Park

 

154,774

 

138,376

 

130,993

 

134,040

 

86,180

   

154,774

 

138,376

 

130,993

 

425,586

 

832,847

                     

Expenditure - Direct costs

             

353,314

 

817,901

Overhead apportionment

                 

106,099

Property Maintenance

                 

107,857

Car Park costs

 

24,510

 

23,913

 

23,217

 

22,541

 

14,367

Aquaterra payments apportioned

 

282,468

237,262

 

268,710

 

196,310

   
   

306,978

 

261,175

 

291,927

 

572,165

 

1,046,224

                     

Net Income/(deficit)

 

-152,204

 

-122,799

 

-160,934

 

-146,579

 

-213,377

                     
                     
                     

Extraordinary Costs

                   
                     

Receiver/manager

                   

Income

                   

Interest & contribution to legal costs from receivers

445

     

4,425

       
                     

Expenditure

                   

Receiver & Managers Fees

 

20,198

     

44,500

       

Trusts Legal Fees on Sale

         

37,762

       

Agents Fees

         

17,500

       

Irrecoverable VAT

         

16,844

       
   

20,198

     

116,606

       
                     

Net Income/(deficit)

 

-19,753

     

-112,181

       
                     
                     

Strategic Review

                   

BDOR

 

17,537

               

Market Research

 

25,400

               

Stakeholder meeting

 

1,160

               

Questionaire

 

2,075

               

Ernst & Young

 

18,912

               

Snr Counsel Opinions

 

13,459

               

Review Management

 

18,369

               

Independent Adviser

 

516

               
   

97,428

               
                     
                     
                     
                     

Net Surplus/(deficit)

 

-237,063

-

-115,213

-

-261,350

-

-137,944

-

-221,338

                     

Council leisure Centre Contribution

 

152,204

-

122,799

-

160,934

-

146,579

-

213,377

                     

Council Loan

 

97428

               
                     

Annual Deficit

 

-84,859

-

7,586

-

-100,416

-

8,635

-

-7,961

Cumulative Deficit

 

-177,015

-

-92,156

-

-99,742

-

674

   

cashflow

Bath Recreation Ground Trust

Estimated Cash flow without Rugby Club East Stand

             
             
   

2007/08

 

2008/09

   
   

£

 

£

   

INCOME

           

Bath Rugby Club & Other Leases

 

43,000

 

43,500

   

Other Income

 

3,350

 

3,400

   
   

46,350

 

46,900

   
             

EXPENDITURE

           

Grounds maintenance

 

56,104

 

57,787

   

Management & Administration

 

24,471

 

25,205

   

Servicing Trust Meetings

 

3,682

 

3,792

   

Business rates

 

7,016

 

7,226

   

Repairs & Maintenance

 

8,240

 

8,487

   

Utilities & Other Costs

 

5,530

 

5,696

   
   

105,043

 

108,194

   
             

Loan Repayment (2006/07 loan)

 

12,794

 

12,794

   

(2007/08 loan)

     

12,794

   

Estimated Deficit

 

-71,487

 

-86,882

   
             
           
           
       

Part two of appendix 6