The statutory accounts presented are for WRFC Ltd (the CASC) and include the profits of WRFC Services Ltd. WRFC Services Ltd is the commercial subsidiary of WRFC Ltd and donates its profits to its parent company by Gift Aid.

The consolidated income statement shows a deficit of £18k (we budgeted a £4k deficit).

WRFC Services Ltd

At the beginning of the year we set an aggressive commercial income budget to match increased expenditure on coaching, physio and other rugby costs.

WRFC Commercial income

	25/26	24/25
Bar Sales	105,622	103,791
Kitchen Sales	26,445	23,958
[Shop Sales	16,878	19,107
Sponsorship	19,045	29,446
Clubhouse Hire	9,409	9,478
Total	177,399	185,780

Budgeted Bar costs/margins were based on 24/25 were inflated and did not reflect increasing indirect costs. As a GMC we were slow to review our pricing and costs and although turnover was 90% of budget, net profit was £10k less than budgeted.

The shortfall in Sponsorship income reduced our trading profit as can be seen above. Our Dames sponsor pulled out and the new packages were not marketed effectively. Potential sponsors were inevitably affected by negative press. Clubhouse hire matched 24/25.

Overall we generated a trading surplus of £50K against 24/25 figure of £64k.

WRFC Ltd (CASC)

Membership income was 2% up on 24/25, mainly due to a small increase in the subscription.

Playing expenses were down overall due the dropping of our pitch maintenance accrual of £12k and savings on the playing equipment and coaching lines of nearly £6k. Physio costs exceeded budget by £2k. We were fortunate to end £23k under budget.

Club overheads were under budget but £9k up on 24/25.

In the year we spent £11k on urgent pitch maintenance. The emergency pitch fund raised £2.3k and the remainder was covered from balance sheet reserves. So no P&L impact in 25/26. In addition we

spent £2k on a new set of posts for pitch 6. This expenditure was capitalised. We have continued to make the investments required to support rugby.

Overall position

The accounts I am presenting to you show a declining Net Asset position to £159k from £177k in April 25. We have £87k in the bank at April26.

Once again, I would like to thank the members of the GMC and our wider community of volunteers in all sections of the club who assist me in this role. I would like to continue as treasurer in 26/27.

Tom Codd
Honorary Treasurer WRFC