Stourbridge Lawn Tennis and Squash Club
Sugar Loaf Lane • Iverley, Stourbridge, Midlands • DY7 6PS
Tel: 01384 393 613
Hello [[firstname]]
During the year, as the Board has overseen the catching up of maintenance and repairs they have appreciated that during 2022/3 the club would make a loss. Our cash in the bank position remains strong and on plan and debt repayments continue as planned. Also the risk of energy inflation is low due to the long term deal we struck in 2020. We continue to have strong support from our members both in subscriptions, sports activities and in the social side of the club. The club will make a loss primarily due to a range of one-off costs some of which were unspent commitments from last year (tennis and squash courts) and agreed commitments for this year (gym equipment, water softener reinstallation etc). as we expect continuing strong membership numbers in 2023/4 we also expect the finances to return to their usual pattern.
During the preparation of finance statement for the general meeting, an error was made in the project 22/23 outturn. Please find attached an updated statement in line with financial position the Board is currently working with. This technical error was made by the Treasurer for which he wholeheartedly apologises. It is important for all members to have faith in and an understanding of the Board and particularly the Treasurers handling of the clubs finances and we hope this corrected statement supports this.
Regards
Steve Hunter
Club Chairman
20/02/2023
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