CDXC 2025 AGM

Treasurer’s Report, Accounts & Audit Certificate

Andrew Thomas, G8GNI – Hon Treasurer

Presented below are the audited accounts and brief comments on the financial highlights of the year ending 31st March 2025. The accounts have been approved by the Committee and audited by the Club Auditor, Owen Williams, G0PHY.

The accounts for the year show a deficit of £2,606. The main highlights in income and expenditure are shown below

Income

Our income has shown an increase over the previous year partly because of an increase in bank interest and partly because we were able to release the ring-fenced donation of £670. We would like to thank our advertisers – BHI, Martin Lynch and Son, Nevada and Yaesu – for their continued support.

Expenditure

There have been a number of increases in expenditure, notably DXpedition sponsorship, marketing costs (fees for attending the Friedrichshafen and National Hamfests, plus the purchase of new CDXC flags), the initial costs of setting up CDXC’s new membership system and the accounts now show the PayPal fees incurred (previously subscriptions were shown net of fees; they are now shown gross). In addition, CDXC made a contribution of £150 to DX World and sponsored a number of DXpeditions, as follows (£s):

Balance Sheet Items

Current liabilities include:

1. The reserve for subscriptions paid in advance (£3,225);

2. DXpedition sponsorship (£1,950), which is charged in the accounts for the year in which sponsorship is pledged. Pledges which remain unpaid at the end of the financial year are recognised by provisions carried forward; and

3. £500 allocated for the provision of trophies.

Accumulated Net Current Assets carried forward of £16,309 indicate a continuing healthy position and a continued sufficiency of working capital to meet the day-to-day needs of CDXC.

Subscriptions

Given CDXC’s overall financial position, subscriptions will continue at current levels for 2023/2024. These are: for UK members – £18; for Overseas members taking the eDigest only – £18; and for Overseas members taking a paper Digest – £24.

73 Andrew Thomas G8GNI

CDXC Treasurer

Notes:

1. In previous years, Subscriptions have been shown net of any fees. This year Subscriptions are shown gross, including fees. The fees are shown separately under Expenditure

2. Includes released ring-fenced donation of £670 that met donor’s criteria

3. Includes the cost of CDXC’s financial management software

4. CDXC does not capitalise assets held such as loan equipment but writes them off when incurred. Therefore, there is no need for Fixed Assets or Annual Depreciation to be recognised in the Accounts.

 

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