I hope you are all keeping safe and healthy?
Given the upheaval that we have seen recently I thought it would be helpful to give you an update on the financial position of the club.
On the 20th March the club was closed in line with Government advice. This, with all rugby activity being stopped, means that we have had no income since then, but we still have costs to pay to keep the club ticking over.
Although careful work previously has meant that the club has some financial reserves, these would be used up quickly in current circumstances. To allow us to survive we have so far carried out the following:
- Renegotiated 15 supplier contracts
- Delayed our VAT quarter payment until next year
- Agreed changes to terms with our employees, including furloughing as appropriate
- Requested and received a £10,000 small business grant
- Applied for and were awarded £10,000 grant from the Sport England Community Emergency Fund
- Applied to other grants to look for further support
To achieve all of this so far several members of the club have put in their time and expertise. We really appreciate the substantial support that these individuals have contributed.
We have alsoreceived some kind donations from individual members who we are very grateful to. I also want to thank Alliots, our accountants, who have substantially reduced the amount we owed them, and Champion Group who have made a sponsorship payment, which is particularly generous given the dificult situation for the construction industry.
All of this has put us in a position that should see us into the scheduled start of next season. It does, however, use funds that we could have used to pay for club activities and equipment. So, I have a favour to ask each of you to help us to support all our amazing players and our fantastic community. If you know people or businesses that are willing to support us financially then please ask them to help. This can be as sponsorship agreements that we agree for when the rugby restarts, or charitable donation, any financial help that we have will help us to better support our members and community once we are through this situation.
Take care of yourselves.