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AGM materials: 2024 accounts (French and UK GAAP)
With the approach of the AGM, please find herewith the Club’s accounts for 2024. These are also posted in the Club, in accordance with Club Rules.
Download French accountshere as a pdf file.
Download UK accounts here as a docx file.
/www/images/Articles/Club2025_AGM_2024_Financials.zip
The Club’s French GAAP accounts are prepared each year by an external accountant. We also prepare UK GAAP accounts internally. The Club has historically had a volunteer Censor who provides a second level of audit: this position has been vacant since spring 2024; if anyone is interested in volunteering for this role please contact Gigi Cothier, Club Treasurer.
The highlights of this year’s results (UK version):
- Overall slight surplus (around €7.5K): this continues a “streak” of surpluses going back to 2021 (after considerable losses during Covid in 2020)
- Revenue up slightly (1%, due primarily to service levy, which began on 1/9/2024); revenue growth was lower than we would have liked, primarily due to less new Members joining in the April-July recruiting season.
- Cost up by around 9%, primarily due to additional staff costs and costs for maintenance of Clubhouse and Grounds. Legal expenses were also higher than previously.
- Investment remained higher than historical levels, at €108K (basketball court renewal, beginning of pool work)
- Bank debt increased from around €522 to €557K, as we took the first tranche of funding for the swimming pool. Our cash position also improved, as we consolidated various old loans and cleaned up the balance sheet.
There will be a full presentation on this and the budgets to end 2026, at the AGM.
Gigi Cothier, Treasurer