1. UYC Finance Report
Oct 2013
Peter Lewis

2. 2012 Highlights Turnover up 3.6% at £282744 Profit up 10.8% at £48654
Cash Generation (EBITDA) £84.2k compares to assumption of £79k in refinancing plan
Cash at bank down £33k but
And loans and OD paid down by £64k
Creditors / Accruals down £18.5k

3. Turnover analysis Turnover 2012 Membership Fees 185,860 Bar Takings
26,657
Kitchen Takings
19,940
Open Meetings
7,211
Birkett 2012
13,731
Sail Camp
7,467
Camping Fees
5,260
Ullswater Week
4,909
Training
3,940
Clothing
2,501
Ton Up
1,656
Dinner Dance
1,653
Regatta
1,213
Sundry
746
282,744

4. Cost of sales Cost of Sales 2012 Wages & Employment Costs 38,747
Mooring Rental
35,000
Bar Puchases
16,209
Kitchen Purchases
14,255
Birkett 2012
8,422
Safety Expenses Repairs
6,989
Sail Camp expenese
6,407
Boat storage
4,402
Safety Boats - fuel
4,036
Dinner Dance
3,452
Clothing
2,491
Open Meetings
5,042
Training Expenses
1,867
Ullswater Week
1,696
Club Racing
1,688
Regatta
300
151,003

5. Contribution by activity
Analysis of Income & Expenditure 2012
Income
Expenditure
Profit/(Loss)
Bar Takings
£26,657.00
£16,209.00
£10,448.00
Kitchen Income
£19,940.00
£14,255.00
£5,685.00
Birket 2013
£13,731.00
£8,422.00
£5,309.00
Ullswater Week
£4,909.00
£1,696.00
£3,213.00
Sail Camp
£7,467.00
£6,407.00
£1,060.00
Training
£3,940.00
£1,867.00
£2,073.00
Total
£29,957.00

6. 2013 To 31/07/2013 Income Expenditure Profit/(Loss) Bar Takings
Income
Expenditure
Profit/(Loss)
Bar Takings
£16,694.63
£8,030.68
£8,663.95
Kitchen Income
£14,985.72
£7,881.66
£7,104.06
Birket 2013
£22,127.42
£11,737.17
£10,390.25
Ullswater Week
£167.00
£0.00
Sail Camp
£8,277.50
£5,212.45
£3,065.05
Training
£3,055.00
£1,093.00
£1,962.00
£31,451.69

7. UYC and VAT
Oct 2013

8. Overview Accountants report in Feb 2012
Accountants analysed 2012 accounts and advised that threshold (£79000) would be crossed in 2013.
Intention to register from 1st Jan 2014.
It is the law.

9. Very Complex Exempt Zero rated Standard rated
Subscriptions
Open meeting entrance
Bank interest
Zero rated
Cold take away food
Children clothing
Standard rated
Camping
Bar
Visitors fees
Hot food catering
Offsetting VAT on supplies
Analysed as % of taxable supplies of total supplies
But de minimus limits apply

10. Implications Increase in prices
Offset supply VAT
Detailed analysis still required, before Jan 1st.
Need to split income eg open meetings.
Phase price adjustments over next couple of years.
Invest in tills able to provide necessary breakdown of income.
Adjust SAGE accounting system.
Register
Adjust prices 2014