Presented below are the audited accounts and brief comments on the financial highlights of the year ending 31st March 2026. 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 £2,420. The main highlights in income and expenditure are shown below.
Income
Our income has shown a slight decline relative to the previous year due to reduced member subscriptions, a drop in donations to CDXC and declining interest rates resulting in reduced interest received. Advertising increased with the addition of a new advertiser (ICOM) in the Digest magazine.
Expenditure
Expenditure is also less than the previous year, although some areas of expenditure increased. The Digest costs were higher, primarily due to increased postal changes. However, going forward we expect postage costs to stabilize with the revised formatting of the Digest that provides for less expensive postage costs. The cost of CDXC’s Membership and Financial System will reduce in future years with the move away from Wild Apricot. CDXC made donations to Club Log (£600), DX-World (£150) and WRTC 2026 (£1000). CDXC spent less sponsoring DXpeditions in this financial year, as detailed below:
| CDXC Dxpedition sponsorship 2025 - 2016 | ||
|---|---|---|
| Prince Edward & Marion Islands | ZS8W | 300 |
| Saba (Youth) | PJ6Y | 500 |
| French Polynesia OC-066 | TX5U | 150 |
| Pajaros Island SA-100 | 3G1P | 150 |
| Micronesia (Chuuk) OC-011 | V6D | 450 |
| Chatham Islands and Vanuatu | ZL7/LZ1GC | 400 |
| Bhutan | A52G | 150 |
| Hope Island AS-178 | AU2AH | 150 |
| Playa Blanca Island SA-084 | 5J4W | 150 |
| Marquesas Islands OC-027 | TX9W | 350 |
| Agatti island AS-011 | VU7R | 300 |
| Austral Islands OC-114 | TX5EU | 350 |
| Bangladesh | S21WD | 450 |
| Lakeba Island OC-095 | SP5APW | 150 |
| Tutumate Islands SA-093 | HK4/PY8WW | 150 |
| Juan Fernandez Islands (Robinson Crusoe Island) SA-005 | 3G0Z | 250 |
| 4400 | ||
| Net roundings, charges and currency movements | 120 | |
| Per Income & Expenditure Accounts | 4520 | |
Balance Sheet Items:
Current liabilities include:
- The reserve for subscriptions paid in advance (£3,250);
- DXpedition sponsorship (£900) 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 recognized by provisions carried forward; and
- £600 allocated for the cost of running CDXC’s Membership & Financial System; £600 for the provision of trophies; and £1000 donation to WRTC 2026.
Accumulated Net Current Assets carried forward of £13,889 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 2026/2027. These are: for UK members – £18; for Overseas members taking the eDigest only – £18; and for Overseas members taking a paper Digest – £24.
While members currently paying their subscription by standing order may continue to do so, no new standing orders will be accepted. The Committee requests that membership subscriptions are made through the CDXC website using either PayPal or credit / debit card.
73 Andrew Thomas G8GNI
CDXC Treasurer
| Income & Expenditure for the Year Ended 31st March | |||
|---|---|---|---|
| 2026 | 2025 | ||
| Income | |||
| Members Subscriptions | 12,377 | 12,958 | |
| Advertising | 1,241 | 1,099 | |
| Annual Dinner Income | 2,181 | 1,700 | |
| Dinner Raffle | 425 | 485 | |
| Donations Received | 589 | 1,068 | |
| Interest Received | 440 | 668 | |
| Miscellaneous Income | 0 | 0 | |
| Total Income | 17,253 | 17,978 | |
| Expenditure | |||
| Digest Print and Distribution | 8,063 | 7,756 | |
| DXpedition Sponsorship | 4,520 | 7,062 | |
| Annual Dinner | 2,136 | 1,803 | |
| AGM Costs | 150 | 150 | |
| Trophies & Awards | 731 | 688 | |
| CMIS - Wild Apricot Costs | 0 | 1,591 | |
| Membership & Financial System | 1,290 | 238 | |
| Marketing & Membership | 484 | 637 | |
| Donations | 1,750 | 150 | |
| RSGB Affiliation | 74 | 68 | |
| PayPal fees | 248 | 255 | |
| Subscription Refunds | 63 | 72 | |
| Miscellaneous Expenses | 164 | 114 | |
| Total Expenditure | 19,673 | 20,584 | |
| Net Surplus / (Deficit) for the year | -2,420 | -2,606 | |
| Accumulated Surplus brought forward | 16,309 | 18,915 | |
| Accumulated Surplus carried forward | 13,889 | 16,309 |
| Balance Sheet as at 31st March | |||
|---|---|---|---|
| 2026 | 2025 | ||
| Current Assets (1) | |||
| Cash at Bank & PayPal | 20,239 | 21,984 | |
| Amounts Prepaid & Receivable | 0 | 0 | |
| Total Current Assets | 20,239 | 21,984 | |
| Less: | |||
| Current Liabilities - Creditors, Provisions & Reserves | |||
| Subscriptions Paid in Advance | 3,250 | 3,225 | |
| DXpedition Sponsorship | 900 | 1,950 | |
| Membership & Financial System | 600 | - | |
| Trophies | 600 | 500 | |
| Donation to WRTC | 1000 | - | |
| Net current assets | 6,350 | 5,675 | |
| Representing Reserves | 13,889 | 16,309 | |
| Income & Expenditure account |
Notes:
- 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.
Auditor’s Report
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