BOF has published audited accounts for 2004 on the BOF website.
I'm not an accountant, just a BOF member, but my initial assessment is that:
Turnover has fallen about 6% (2004, compared to 2003)
Grants (from UK Sport, Sport England, lottery, etc) have fallen about 6%
Cost of sales has also fallen 6% (seems reasonable)
Therefore Gross Profit down about 6%
Admin Expenses have risen about 11% (no breakdown provided)
Therefore Operating Profit is actually a loss of £12k in 2004, compared to a profit of £12k last year.
Now, if the additional admin costs are because BOF are putting extra effort into the initiatives we have voted to support (e.g. stopping the decline in membership and participation), then that's a good thing! To find out, we need to go to the AGM.
BOF Accounts here
BOF - Accounts 2004 published
Moderators: [nope] cartel, team nopesport
4 posts
• Page 1 of 1
I am an accountant
Unfortunately the accounts as published are of almost no use whatsoever as there's no indication of what money is actually being spent on.
The breakdowns usually provided with the AGM papers are what we need. These show the sources of income and what it is being spent on. Quite important as the majority of income is ring-fenced.
Unfortunately the accounts as published are of almost no use whatsoever as there's no indication of what money is actually being spent on.
The breakdowns usually provided with the AGM papers are what we need. These show the sources of income and what it is being spent on. Quite important as the majority of income is ring-fenced.
-
Godders - blue
- Posts: 416
- Joined: Tue Nov 04, 2003 4:37 pm
- Location: Swanston
unfortunately I am an accountant
These are statutory accounts produced only to meet certain obligations laid down by the Companies Act for companies limited by Guarantee (i.e. no shareholders).
The useful, meaningful information will be given in the annual report,presumeably released before the AGM and avilable to all members.
I cannot remember if a copy of the annual report is circulated to all members or whether we have to ask for one.
These are statutory accounts produced only to meet certain obligations laid down by the Companies Act for companies limited by Guarantee (i.e. no shareholders).
The useful, meaningful information will be given in the annual report,presumeably released before the AGM and avilable to all members.
I cannot remember if a copy of the annual report is circulated to all members or whether we have to ask for one.
- redkite
- green
- Posts: 348
- Joined: Wed Apr 28, 2004 5:40 pm
- Location: Wales
Re: BOF - Accounts 2004 published
Spookster wrote:Therefore Gross Profit down about 6%
gross, do you want me to lend you a tenner mate?
-
bendover - addict
- Posts: 1459
- Joined: Sat Nov 08, 2003 5:00 am
- Location: London
4 posts
• Page 1 of 1
Who is online
Users browsing this forum: No registered users and 210 guests