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Treasurer's report for 2006 AGM

A review of the 2005 season

Turnover in 2005

MGoT hosted ten events during the 2005 season (figures exclude VAT):
 
 
 Ex VAT  Inc VAT 
Income 
 £33,826.20  £39,745.79 
Expenditure 
 £32,305.17  £37,958.58 
Event surplus 
 £1,516.77  £1,787.21 
Event surplus as % of income
4.48%
 
 
Running costs in 2005

During 2005 MGoT incurred the following running costs:
 
 
 Ex VAT
Inc VAT
Stickers 
 £176.51  £207.40 
UK web Systems 
 £553.19  £650.00 
UK web Systems hosting 
 £85.00  £99.88 
Gould Plates (Banner) 
 £75.50  £88.71 
Business Cards 
 £80.00  £94.00 
Committee Expenses 
 £120.90  £142.05 
Total running costs 
£1,091.10 £1,282.04 
 
Net Surplus in 2005

The net surplus in 2005 was (figures exclude VAT):
 
Events surplus 
 £1,516.77 
Overheads 
 £1,091.09 
Net surplus 
£425.68 
Net surplus as % of income 
 1.26%  
  
Working Capital 
 
Working capital is important to:
  • pay early deposits
  • fulfil a previous quarter’s VAT liabilities in a month where other financial burdens are expected (e.g. track deposits)
  • act as a contingency against a shortfall in income on an event.
Events are priced to deliver a surplus that will cover running costs and contribute to working capital.
 
2006 Plan

In 2006 we plan to increase the net surplus as a percentage of income in order to increase working capital for future events.

Projected turnover for 2006 from events

MGoT will take the financial burden for seven events. The projected finance for this will amount to (figures exclude VAT):
 
Income 
 £44,559.93 
Expenditure 
 £40,213.83 
Event surplus   
£4,346.10 
Event surplus as % of income 
 9.75% 
 
Projected running costs for 2006

Running costs estimated at £1,668 (£1,915 inc. VAT) comprise of:
 
 
 Ex VAT 
Inc VAT 
Stickers 
 £212.76  £250.00 
UK Web systems 
 £553.19  £650.00 
Web Hosting 
 £127.66  £105.00 
Membership ATDO 
 £136.17  £160.00 
Sundry/Expenses 
 £638.30  £750.00 
Total running costs 
£1,668.08 £1,915.00 
 
Projected surplus for 2006

The projected surplus in 2006 is (figures exclude VAT):
 
Events surplus 
 £4,346.10 
Overheads 
 £1,668.08 
Surplus 
£2,678.02 
Surplus as % of income 
 6.01% 
 
Tim Woolcott
Treasurer MGoT
1st April 2006
 
 
 
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