Agenda Kippie Lodge Sports & Country Club Attendance and apologies. Receipt of the Management Committee Report for 2019. Welcome to the Receipt and adoption, if approved, of the Accounts for the year ended 31st December 2019. Annual General Meeting Appoint a firm of Independent Accountants and authorise 7.00 pm Tuesday 29th September their remuneration being fixed by the Management 2020 Committee. Elect Members of the Management Committee. By Zoom Call Any Other Competent Business and Questions to the Trevor Grose - Chairman Management Committee. Covid 19 and Kippie Response 1 2 2019 DELIVERY Management Committee Trevor Grose, Chairman 2019 has been a good year, business performance has been Rick Sansom, Treasurer turned around Achieved completion of planned facility modifications (Gym, David Anderson, Vice Chairman H&B and new studios – good feedback from members/staff) Susan Smith, Secretary Engagement sessions conducted with senior staff Sarah Chew Organisational review conducted and new structure put in place – staff changes as a result Julie Grant Conducted ideas forum to obtain staff input on options to Louise Craig improve the business Derek Gemmell (Resigned March 2020) Committee reps linked with each department Brian Martin (Co-opted April 2019) Membership growth achieved through focused marketing and member referrals Drew Russell (Co-opted May 2020) Class delivery just outside 98% performance target Robin Caldwell, Club Director (ex officio) 3 4 Members in Transit Membership History Memberships Cancelling & Joining during 2019 1500 140 1300 Cancelled Joined 117 Cancelled 120 2019 216 267 1100 Joined 100 900 80 700 60 48 500 42 36 40 27 23 23 20 20 20 20 20 15 14 10 10 11 9 9 8 9 7 7 5 3 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 5 6 1
Organisational review Monthly Fee Comparisons 250 Why? 200 Large financial loss in 2018 150 Sports complex delivery inconsistent, not effectively managed 100 F&B losses considerable, quality of service varied 50 Marketing and events not driven by need to build membership 0 and increase revenue Family 4 Couple Single Outcome DL Plat 224 174 102 DL + 194 144 87 New management structure, focussed on delivery Village 180 150 75 New managers for Sports & Wellbeing, F&B and Estates Unit Banchory 0 80 40 2 staff redundancies, one resignation KL 2020 138.75 138.75 80.5 Business will run efficiently, within budget, membership Kippie Members earn loyalty points and receive discounts on growth, staff engaged, members see delivery of plan membership card payments of 3%. Early Bird Promotions available. More work to be done in 2020, greater efficiencies to be Couples receive £50 loyalty points. Book containing offers valued at achieved in Sports & Wellbeing, F&B and Estates approx. £400 given to each Club Membership. 7 8 Marketing focus – forward plan Organisational Review - New Structure Four focus areas: Retain membership Grow membership Raise profile Increase revenue Creates path for increased investment 9 10 Financial Report 2019 Financial Performance Rick Sansom – Treasurer Much improved financial result -£21k vs -£200k, Would have been positive if exclude restructuring one off costs of £40k 2019 Performance and Accounts Membership income, F&B, H&B and Sports Centre all improved • 2020 Original Plans Costs kept under control, staff contributed through no pay rise • Phase 1 of redevelopment funded from reserves 2020 Covid Financial Impacts & Responses • Raised £90k from sale of term memberships Paid off last installment of previous bank loan March 2019 11 12 2
P&L and Business Results Balance Sheet 2016 2017 2018 2019 990 FIXED ASSETS 1,108 1,056 1,005 2016 2017 2018 2019 CURRENT ASSETS 1,766 Membership Fees 1,928 1,757 1,637 145 157 170 160 Stock, Debtors and Prepayments 47 Sports net inc 28 50 30 613 Cash at bank and in hand 1,151 937 712 F&B net inc -94 -51 -67 -25 773 1,296 1,094 882 1,789 TOTAL INCOME 1,862 1,756 1,600 CURRENT LIABILITIES TOTAL COSTS 1,891 1,752 1,804 1,810 303 240 156 194 Trade Creditors & Accruals P/L -29 4 -204 -21 19 - - - Payroll Liabilities add back Depreciation 55 51 52 15 506 Subscription in advance 570 474 546 less Gain on Sale of 50 51 13 0 Loans Payable within one year Asset 0 0 0 0 102 100 106 93 Deferred Income 64 28 35 35 VAT 0 less net Capex Spend 0 0 0 828 1,108 893 856 less Amortisation of 0 0 Term Memberships -13 -12 -7 CREDITORS – Loans Due after one year 67 15 0 Add Tfr to PROVISION FOR LIABS & CHARGES 0 maintenance reserve -15 -20 0 160 180 180 18 Future Development Fund BUSINESS RESULT 58 23 -159 -6 0 19 7 0 Deferred Life and Term Members 1,050 1,055 851 830 ACCUMULATED SURPLUS 13 14 Renewals Bridge from 2018 Actual to 2019 Budget and Actual 2016 Done 2017 Done 2018 Done 2019 Done 2020 Ch 2 & 3 Wet Green House TRX Training Play Park Compares what • Areas Doors system replacement Pool - equipment was shown at Gym & Pool Pool clean, re- Hair & Beauty Accessible lighting grout, sand decor & new Complex – changing room 2019 AGM (top) change & water flooring Replacement Sauna Refurb with the actual renewal Pool Access steps front door Kitchen improved outcome for Kitchen Flooring Kitchen Equipment Pool dosing ventilation Equipment 2019(lower) Road remedials, equipment Pilates and Balmoral Décor & dyke & field Signage Dunnottar Lights Greens rollers gates, upgrade of rooms Hair & Beauty – Braemar Golf ball paths & paving CECI equipment Redecoration dispenser Crathes Bar Patio upgrade Pool Wet Vac Driving range Tables improvements Upgrading paths Sports Complex and paving Pedestrian access Flooring at main entrance £166k £89k £31k £33k £45k 16 15 16 2019 & 2020 Developments 2020 original plans pre covid Phases Description Amount Projecting surplus £27k for 2020 on realistic assumptions Membership growth at 10 per month 2019 Developments funded from reserves Capital Spend of up to £348k plus VAT projected Phase 1A Braemar Suite: Conversion to 2 Studios and Dunnottar Meeting Room £62k Sourced from, term memberships (£90k), AWPR final payment (£95k), Loan/overdraft (up to £250k) Phase 1B H&B: Reconfiguration & Refurbishment of Treatment Rooms £48k Phase 1C Extension to Existing Gym £44k Total £154k 2020 Developments capital funded Phase 2A Tennis Courts: Resurface Courts 1&2 £28k Phase 2B Tennis Courts: Install Double Skinned Dome over Courts 1&2 £172k Total £200k 17 17 18 3
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