2020 ANNUAL REPORT

MINUTES OF THE 2020 ANNUAL GENERAL MEETING 49 contribution of international cricket, financial challenges caused by not hosting Test Match cricket, invest- ment in facilities, the importance of generating new income streams and the forecasting of a surplus for the following year. Mr N Crockford referred to the ‘at a glance’ graphic contained in the Annual Report and pointed out reductions in the club’s surplus, cash-held and net assets. He further stated that the value of Trent Bridge should be reported to the members and updated every five years under rule 9.3 and requested a comment on the club’s current cashflow. In reply, Mr Ellis explained that a large debt of over a million pounds, in relation to the staging of the ICC CricketWorld Cup, which had subsequently been paid by the ECB, had led to a short-term impact on the club’s cash-flow which had been very carefully managed. He also stated that, in order to maintain Test Match status, improvements to the Radcliffe Road media facilities had been required which had also impacted on cash balances. He commented that raising finance and managing debt to developTrent Bridge would be one of the biggest challenges in the next four-year cycle. Mr PWright recalled that Trent Bridge had been valued for insurance purposes around ten years ago. Mr Crockford stated that the Club Rules included a requirement for the value of Trent Bridge to be stated within the club’s published accounts and updated every five years. Following a request for clarification in relation to the funding of and accounting for theTrent Bridge CommunityTrust, Mr Ellis con- firmed that theTrust was subsidised by the club, but that it also generated grants and income to fund its own projects. Mr D Hume suggested that an accounting forecast for future years should be made available to the membership. Mr Ellis replied that the club had an internal working budget forecasting an aggregate surplus of £500,000 across the next four years. Following a query from Mr J A Evans, Mr Ellis confirmed that all expenditure in relation to Restau- rant Six had been recorded as such within the accounts. Mr J Chambers voiced concern as to whether the cost of hosting Test Match cricket justified the income it generated. Ms Pursehouse stated that the club remained reliant onTest match income to secure its ongoing sustainability.This was actually the crux of the challenge facing the club going forward and it was essential to develop additional income streams, to secure the long-term future of the club and venue. Mr D J Beaumont pointed out a printing error within the list of club officials within the Accounts section of the Annual Report and Accounts, which was acknowledged by Mr Tennant. Mr Crockford raised some presenta- tion issues and queried the deferred tax calculation within the annual accounts. Mr Ellis responded that he was satisfied that the accounts were accurate and that they had been audited and verified as a true record. TheTreasurer’s Annual Report and Statement of Accounts was proposed by Mr J A Gillott, seconded by Mrs C Jeffreys and was adopted on a majority of 62 to 7. 6. CRICKET REPORT Director of Cricket, Mick Newell, opened his speech by reminding those present that when they met at the AGM last year, they did so with a feeling of optimism about the season that lay ahead. Mr Newell went on to explain that the club could never guarantee positive results, but had started the campaign hopeful that they had the core components in place to compete in all formats. Joe Clarke, Ben Slater, Ben Duckett and Zak Chappell had been added to the side – all of whom were amongst the most sought-after talent in the county game. As the season-opener againstYork- shire played out, the signs were still good. But the game against Somerset proved to be the first of a run of red- ball defeats – a run in which the side tried everything to transform their fortunes. The club signed Ravi Ashwin, a world-class player who delivered a world-class return during his time with Notts. The club had tried to give Ravi the best possible chance by playing on pitches that would suit his bowling, and the batting line-up and order was tweaked as the club sought elusive first-innings runs. Mr Newell said that Notts was a club where the expectation was to play Division One cricket year-in year-out, and that the team’s four- day form had fallen well short of that requirement. A lot of the work that had since been focused upon during the winter had one core aim – to make sure it didn’t happen again. In limited-overs cricket, Mr Newell explained that there hadn’t been the same need for major surgery.The club was proud that its status as one of the leading white-ball teams in the country remained undiminished. In the Royal London One-Day Cup, some memorable performances were displayed, particularly during the side’s run of five consecutive wins. The likes of Luke Fletcher, Ben Slater and Joe Clarke impressed during that run, before Samit Patel stood tall to secure Notts’ semi-final spot. Mr Newell said that, of course, everyone knew what happened next – and there was no getting away from the fact that Notts were soundly beaten in the semi-final. It was, however, the sixth year out