Guildford Rugby Football Club
Guildford Rugby Football Club

News

Treasurer’s Update

Dear members,

As lockdown starts to become a way of life we hope you are in good spirits, keeping safe, and managing to keep supplies up. 

Thanks to Matt Poole, Chris Beer and team for initiating the “GRFC Community team” offering help to those in need – see this link for more info re the work they are offering to do to help our community – they dropped their first prescription off on Monday!

Further to Joe’s letter last week this is an update from me as treasurer with some more insight to the financial position in which we find ourselves. Firstly though, it is with sadness that we pass our condolences to Joe and family with the sad news that Joe’s father in law was lost to the virus last Friday. Our thoughts are with Joe and family at this distressing time. For rugby matters please rather than intrude on Joe at this time, please instead email our club sec at  [email protected], and he will ensure your queries are responded to or passed to a relevant Board Member to reply.

As to finances – The picture is, as you can imagine, somewhat fluid as we react to these unparalleled circumstances. My thanks to Liz, Adrian, Emma and Ben in working so effectively to lock down our cost base and allow us to quickly forecast our immediate and short term funding needs.

We have managed the cost base down aggressively and are actively chasing all outstanding debtors – our 3 month cash flow forecast suggests we will manage to just stay under our 15k overdraft facility. However this needs to be taken in the context that we have been able to defer some sizeable costs (mainly government related PAYE/VAT and an RFU loan repayment) to the tune of 22k. We also need to recognise our monthly run rate when largely dormant is still circa 3-4k in this 3 month window (eg. utilities, book keeping, machinery leases, TV, Phone, Till subscriptions) and that we have lost all our revenue making opportunities over the summer – (at point of the close down we had 54 bookings either cancelled or deferred much of which we won’t recoup this year) so funding is critical and a funding gap north of 50k is the sort of magnitude needing to be addressed. 

With our year end at the end of June we are in the period when next year’s budgets need to be set. I will be sending sections the templates to update and we will consolidate this club wide so we can assess where we will need to be realistic re cutting costs given the above plus expected pressure on revenue. The membership subs will be updated on GMS in readiness for next season. We may look to go live earlier for those able to help pre fund the season but also understand many are tight for cash flow at this time of uncertainty and will take section heads input as the current picture becomes clearer.

We are looking at costs of grounds care to maintain a skeleton support during the lock down and whether this can be funded – we fully understand all from minis to seniors are desperate to get back to rugby as soon as possible. 

We are actively pursuing other funding avenues such as the government furlough scheme to help protect our staffs livelihoods and applying for the government grant scheme. The RFU are adding detail to assistance they might be able to offer which we are also pursuing. 

So hopefully that gives you a brief insight into the state of play and the various variables we are trying to get a handle on. Since the launch of the “just giving appeal” last week we have had over £5,000 pledged in donations so far and so a huge big thank you to all who have been able to help – this is much appreciated and so important re cash flow as we navigate this period.

https://www.justgiving.com/broadwatersportsclub

If you can help please do – a few further simple ways members can help the club are detailed below …

VIRTUAL QUIZ NIGHTS – 1st team captain Matt Poole and team are organising the roll out of some fun quiz nights looking to also raise funds to assist the club and also donate to our NHS heroes. See the web page, Facebook and Instagram for details of how to participate.

GRFC International 50 club – our own club lottery

 If you wish to join you can set up your monthly payment of only £5 by clicking HERE.

60% of the receipts are paid out each  quarter in the following way: 50% of this amount goes to the winner and 30% to the runner up and 20% to the 3rd place. The balance of 40% is given to Guildford RFC to maintain our excellent facilities.

You are protected by the direct debit guarantee scheme and you can withdraw from the International 50 Club at any time you chose by emailing [email protected]  . You will not be entitled to take part in any draw after the date of cancelling your membership.

EASY FUNDRAISING

If you shop online, please register with easyfundraising. When you shop via their website or App, the Club will receive a much needed donation. Please sign up here – it takes 2 minutes and will make a huge difference!

https://www.easyfundraising.org.uk/causes/guildfordrc

Best regards

Nick

Our Sponsors and Supporters