A Note from the Commodore
It is now six weeks since we were able to re-open the Bar in the Club as a first step towards providing Catering services to our Members. Since then we have gradually increased the offering on the First Floor to try to meet Members needs within the constraints placed upon us by the government, whilst also recognising that there was likely to be reduced demand due to a number of our Members not wishing to visit public places whilst there was still risk of contracting Covid-19.
During August we have extended the offering and are carefully monitoring the success of the operation. Friday nights have proved to be popular with a different themed menu each week providing excellent quality a la carte meals. With the fine weather we have enjoyed recently Members have been able to dine outside until late into the evening. Costs are being kept under control with the help of the Members who are prepared to help out and, as Nick & Dom Ryley mentioned last week, this can be a really enjoyable experience as you get to put names to faces and are appreciated for the help that you are able to give the Club. Whilst some Members may still not feel comfortable visiting the Club, I would encourage those who do to come down and support the social side of Club activities.
On the water we are gradually becoming more active. Junior Sailing has been running training and practice racing for a number of weeks and we have the Junior Race Week to look forward to from today. Monday Evening Dinghies has been almost back to normal for several weeks as well. None of this would have been possible without the considerable help of the large band of volunteers who have provided the support needed for these events. XODs and Folkboats have also started racing again and have plans for the autumn. The Duo Series has also managed several races this summer.
There is frustration that we have been unwilling to restart Thursday Evening Keelboat Racing as before. This decision has challenged the Racing Sub-Committee who are keen to re-start racing as soon as possible whilst recognising the constraints placed upon the Club regarding social distancing. Hopefully a way forward based on guidance from the RYA and others, which will satisfy most if not all, will be found in the very near future. However, thanks are due to all those involved in organising the ‘navigational exercises’ on Thursday evenings. If we can manage it, with careful planning, we might also manage to run a Pottership Race at the beginning of October.
On the Cruising side several casual meets have now taken place around the Solent and as far away as Studland with many Cruising Members now being able to enjoy the freedom of getting away for longer periods. With staycation being the theme this summer many harbours and anchorages have been quite crowded but our experience, having just spent a few weeks in the West Country, is that mooring officers are only too willing to help find available berths, if possible.
At the start of this year the Club’s most important priority was to rebuild our cash reserves. The pandemic of course then made the budgets that we had set ourselves completely unrealistic because of our inability to operate in any normal way during the spring and early summer. Fortunately the government offered financial support to businesses that had been affected and we have taken full advantage of these various schemes. As a result we have managed to maintain our cash reserves at an acceptable level and have shown a reasonable surplus on our Income & Expenditure Account for the first nine months of the year. The management accounts for the nine months to June 2020 are available to view in the Members’ section of the Club website.
Whilst on the face of it this might appear to be a favourable situation, we recognise that in the final quarter of the year we had budgeted to generate a net surplus of £45.6k, including £17.6k from Catering. With the extra costs arising from opening up our operations in July, the limited demand for our services and reduced dependence on the furlough scheme, we know that we will be struggling to maintain a reasonable surplus for the year.
During this difficult time we have been guided by our Health & Safety Committee who have advised the Flag Officers and GC of what we are able to do as a Club. We are grateful to them for this advice. Because of the uncertainty of how the pandemic would affect our finances over the coming year GC took the decision in June to apply for the government’s Bounce Back loan of £50k. This was granted and we received these funds in July. The terms of the loan are that it should be repaid over a maximum of five years and is subject to interest of 2.5% p.a., with no interest or repayments in the first year. These funds are being held in a dedicated deposit account where they will sit until at least the AGM in February 2021 when Members will be asked to ratify the loan.
Finally, once again my thanks to all those who have supported the Club over the last few months, either through their voluntary help or by enjoying the bar and catering on the first floor. At this difficult time the message has to be, your Club needs you!
Fair winds and stay safe.
Roger Garlick
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