British Fencing AGM Financial Presentation 2013-2014 Overview

Presentation of British Fencing's financial data for the year 2013-2014, including income sources, expenditure breakdown, factors contributing to deficit elimination, event deficits, reserves position, and budget projections for 2014-2015. The report aims to highlight the financial performance and strategies of the organization.

• British Fencing
• Financial Presentation
• 2013-2014
• Revenue
• Expenses

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1. British Fencing AGM Financial Presentation 11thOctober 2014

2. Income Statement 2013-14 () Performance & Talent Development & Events Corporate Services 2013-2014 Total 2013-2014 % 2012-2013 Total 2012-2013 % Grant Income 820,104 265,000 98,358 1,183,462 56 993,000 48 Sponsorship 100,000 55,000 45,000 200,000 9 225,000 11 Membership 179,036 179,036 9 172,000 8 Other 42,257 396,154 105,220 543,631 26 681,000 33 Total Revenue 962,361 716,154 427,614 2,106,129 100 2,071,000 100 Expenditure Operating Surplus/Deficit Investment Gain Total Surplus/Deficit (962,361) (715,655) (425,981) (2,103,997) (2,287,000) - 499 1,633 2,132 (216,000) 165,827 167,959 2

3. Factors contributing to elimination of deficit 2013-14 ( ) 2012/13 Deficit Legal Fees Write- downs The Sword Olympic costs Funding Increase 2013/14 Surplus Events 50,000 +2k 0 -50,000 +40k -100,000 +67k +21k -150,000 +14k +38k -200,000 -216k +38k -250,000 3

4. Events 2013-14 () 2012/2013 Deficit 2013-2014 Deficit British Youth Championships (6,000) (19,000) British Junior/Cadet Champs (12,000) 5,000 British Senior Championships (21,000) 2,000 School Teams Championships (1,000) (4,000) Eden and Leon Paul Cups (12,000) (10,000) England Cup (47,000) 0 (99,000) (26,000) 4

5. Reserve Position 2013-14 C/Fwd 2012-13 Accounts Operating surplus Investment gain C/Fwd 2013-14 Accounts 292,648 2,132 165,827 460,607 Undervalued Assets: - Chiswick Property 5

6. Budget 2014-15 () Corporate Services Performance Development Total % Grant Income 884,000 265,000 129,000 1,278,000 63 Sponsorship 100,000 42,500 57,500 200,000 10 Membership 181,000 181,000 9 Other 301,000 82,000 383,000 18 Total Revenue 984,000 608,500 449,000 2,042,000 100 Expenditure (984,000) (631,000) (462,000) (2,077,000) Surplus/Deficit - (22,500) (12,500) (35,000) Target to sustain break-even going forward 6