Trent Bridge Annual Report 2018

31 TREASURER’S REPORT One-Day International cricket atTrent Bridge has always invested well into these areas when compared with other First-Class counties and natur-ally this has a direct impact on our ability to compete on the field of play. The impact of our building development atTrent Bridge has a very obvious visual result in the shape of the improved media and conference facility in the Radcliffe Road stand.The financial result of this project manifests in the increased interest payment made this year, rising to £305k from the £195k incurred last year.This is as per our budgeted increase and therefore remains in line with our business plan moving forward. Looking over the balance sheet of the Club, there are some key figures worth bringing to your attention. As you would expect, following another strong surplus producing year, we see the net assets of the Club increasing and now standing at a healthy £4.6m. Within this figure our net current liabilities remain static at just over £1.4m and this remains manageable given the levels of deferred income contained within it. The value of loans in the balance sheet has increased alongside the development work completed over the past year.These loans are split across two categories of creditors, based on some repayments due within one year and the vast majority then due after more than one year. Note 14 is perhaps most helpful when communicating our overall loan position, detailing the outstanding position as £8.1m.The Club remains comfortable with this level of debt and we are confident in our ability to meet the ongoing repayments. Our additional borrowings and development plans are one part of our future strategy for the Club and are deemed necessary to ensure that we remain a venue capable of delivering the very best in terms of customer experience and matchday delivery. The cash balance reported in the accounts stands at a reassuring figure of £1.4m with a further £0.8m available for collection from our debtors at the year end. This combined figure of £2.2m is lower than the £2.7m reported at the same time last year, due to our cash contribution for some of the development work undertaken last year.We have paid for the development work through a mixture of loans and cash, ultimately aiming to strike a balance between reducing the cost of borrowing whilst maintaining sufficient cash reserves to support the ongoing business. After taking a moment to reflect on the past performance of the Club, we should then turn our attention to the future.We are in the fortunate position of having a long-range view and surety around major income lines for the next six years. Our high-profile match allocation is now known as far ahead as 2024 and we also have confirmation of hosting the new domestic competition from 2020 onwards.This confirmation of income provides the opportunity to look at assessing the projects and initiatives we would like to see delivered during the same period to provide maximum return and benefit to the Club and its members. We are at an exciting time for the game of cricket and this will bring wonderful opportunities - and of course a responsibility to ensure that we put the additional income to best use. Here atTrent Bridge, we have always invested to deliver a competitive team on the field, to produce players for the national team and to create a venue of which we can all be proud. By achieving that, we can now look forward to a huge amount of cricket coming here over the next few years. This will include the ICCWorld Cup 2019, ODI’s,Test Matches, and InternationalT20s. Domestically, we’ll continue to see Notts in action in theT20Vitality Blast, the Specsavers County Championship and the Royal London One-Day Cup; a competition for which we are also hosting the final from 2020.There’s also a brand-new domestic competition from 2020 too. It’s all here for us to enjoy. “WE HAVE ALWAYS INVESTED TO DELIVER A COMPETITIVE TEAM ON THE FIELD, TO PRODUCE PLAYERS FOR THE NATIONAL TEAM AND TO CREATE A VENUE OF WHICH WE CAN ALL BE PROUD.” Paul Ellis