TrustSTFC Accounts for the Period Ended 31 July 2002
The following is a summary of the information contained in the company accounts for the period in question.
A complete copy of the accounts can be obtained by contacting the Trust at the address below.
- Anthony Norris (Chairman)
- Andrew Ratcliffe (Vice Chairman)
- Leigh Collett (Treasurer)
- Justin Tomlinson
- Mark Ratcliffe
- Anna Tuersley
- Andrew Hounsell
- Paul Wardell
Okus Trading Estate
IP292254R (England and Wales)
Banks & Partners
14 Devizes Road
Chairman's report and Review of the Period
This is the first year that TrustSTFC has been in existence as an official Supporters Trust. The trust gained its mandate to form in May of 2001 and
held a series of meetings with Swindon Town Football Club before its official launch on 8 August 2001
The focus of the year was to establish the trust as part of Swindon Town's culture, to attract members, and to raise funds to enable
the Trust to move forward and achieve its aims
An enormous amount of work went into the Trust launch meeting of 8 August 2001. The aim of the meeting was to present in a professional
manner the aims of the Trust and why people should join. The trust launch proved to be very successful and the loan fund
alone raised £10,000
In September, to push the message to an even wider audience the trust held 'Trust Day' at the County Ground. The Trust office also came
into operation, providing a base to enable the Trust to be accessible to its members on match days.
The third quarter of 2001 saw a great deal of upheaval at the football club and the Trust provided a very important voice for the Swindon
Town supporters. During this Period Donnegan and Blatchley departed from the club, and effectively the club was run with no one in charge,
Peter Rowe and Roy Evans guided the club through this short period before what became know as 'the consortium' took over full control of
In November it became clear that Roy Evans would be leaving the club, and the trust took leadership in trying to convince him to stay.
The trust ran a petition collecting over 1500 signatures, asking Roy Evans to continue. Despite everyone's best efforts Roy Evans decided
the best course of action for both himself and the club would be to leave.
Also in November thew trust played host to a very lively members' meeting which was attended by Danny Donnegan and Cliff Puffett, both very
passionately putting their side of the story in the whole matter of who should control the club.
We entered the new year with a new campaign. Within various supporters' groups there had been a growing campaign for standing areas.
The trust decided that it would be a good idea to see if Swindon Town fans would like to see standing back at the County Ground. We were
the first organisation ever to poll supporters on the subject, and the results were overwhelmingly in favour of standing areas.
In February we continued our established commitment to members' meetings and in February's meeting Bob Holt
addressed the members to explain the financial position at the club. He commented that the club was in a dire financial position, and
this was later demonstrated in March when the club went into administration for a second time. When the administration was announced
the Trust launched its 'paddle fund' that saw a series of bucket collections held at home games.
In April the trust announced talks with Donnegan and Blatchley to see if we could secure both their share holding and the £1.2 million
debenture. At one stage the trust thought they were very close to securing both, but unfortunately the deal fell through at the last minute
when Donnegan and Blatchley changed their terms and withdrew the debenture from the discussions. It was felt that the share holding alone
would not be worth pursuing, as the financial backers of the trust were aiming to secure the future of the football club, and without
the debenture this aim would not be fulfilled.
At the end of April the club announced the ticket and season ticket prices for the new season. This caused uproar amongst the supporters
and trust members, and we were inundated with requests that the trust talk to the club to see if anything could be done because of the
financial impact the new ticket prices would have on supporters.
On the day of the announcement the trust spoke to the club regarding the prices, and at that stage they stated that the prices would have to stand in order
for the club to survive. By further meetings with the club and its advisers the trust managed to secure some discounts, especially for
the wing season ticket holders, and the club also announced early settlement discounts. The discussion on pricing continued into the
new season. This event proved above all others the value that a Supporters Trust can offer the supporters.
At the end of the season the Trust sponsored a kids 6-a-side tournament held at the County Ground and in
association with the Community Office. The event was very successful raising £1,500 for the Community Office.
Income and Expenditure Account
|Income from members and sponsors
|Income from fundraising activities
|Donations and other income
|Sale of goods
|Fundraising and function costs
|Goods purchased for resale
|Net income for the period
|Retained surplus/(deficit) brought forward
|Retained Surplus Carried Forward
Balance Sheet 31 July 2002
|Fixed asset investments
|Cash at Bank
|Creditors Amounts falling due within one year
|Net Current Assets
|Total Assets Less Current Liabilities
|Creditors Amounts falling due after more than one year
|Capital and Reserves
Notes to the Financial Statements for the year ended 31 July 2002
1. Accounting Policies
The financial statements have been prepared under the historical cost convention.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, or if held
under a finance lease, over the lease term whichever is the shorter.
|Office Equipment|| - 25% on reducing balance|
|Fixtures and fittings|| - 25% on reducing balance|
|Property Improvements|| - 25% on reducing balance|
Stock and work in progress are valued at the lower of cost and net realisable value, after making sue allowance for obsolete and slow
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
2. Net Income
The net income is stated after charging:
|Depreciation - owned assets||313|
The society is exempt from UK corporation and Income taxes and therefore, no deferred taxation arises.
4. Tangible fixed assets
|Office Equipment||Fixtures and Fittings||Property Improvements||Totals|
|At 31 July 2002||231||376||645||1,252|
|Charge for period||58||94||161||313|
|At 31 July 2002||58||94||161||313|
|Net book value at 31 July 2002||173||282||484||939|
5. Fixed Assets Investments
These investments are unlisted
|Swindon Town Football Club||Total|
|At 31 July 2002||418||418|
|Amounts falling due within one year:||£|
8. Creditors: Amounts falling due within one year:
|Accruals and deferred income||1,984|
9. Creditors: Amounts falling due after more than one year:
|Society Loan Notes||10,500|
10. Share Capital
Allotted issued and fully paid:
11. Related Party Transactions
During the period the society reimbursed expenses incurred wholly and exclusively for the benefit of the society to the following trustees:
Andrew Ratcliffe - £173
Trading and Profit and Loss Account
For the period ended 31 July 2002
|Sale of goods||1,056|
|Goods purchased for resale||736|
|Postage and Carriage||346|
|Office machinery expenses||79|
|Sales less expenditure||7,247|
|Bank Interest received||16|
|Fixtures and Fittings||94|