2025 Annual-report

MINUTES OF THE 2025 ANNUAL GENERAL MEETING 53 cost of £1.1m, and £1m of this was the cost of staging international matches, reflecting the fact that there was no Men’s Test in 2023. Overall, we had experienced an increase in income of £3.8m from the year ending 30 September 2023 and, coupled with an increase of expenditure of £2.2m, this had resulted in a pre-tax surplus for 2024 of £643k compared to a pre- tax deficit in 2023 of £991k. Historical Performance –TheTreas- urer showed a slide which illustrated the surpluses and deficits since the year ended 30 September 2014. We now had £6.3m of General Reserves, compared to just over £5.9m at 30 September 2023. Average Annual Return Cycle – This slide showed the average surpluses since 2009 in four-year cycles.The period 2009 to 2012 showed an average surplus of £337k, moving to £608k in the last four- year cycle to 2024. The type and frequency of interna- tional matches played atTrent Bridge in any one year had a significant impact on the surpluses generated, but this impact was smoothed out over a four-year cycle. Looking at our financial performance over these four-year cycles gave members a better understanding of how our finances were progressing, Mr Ellis said. Managing our financial results as part of a multi-year cycle gave the club the resilience to maintain our business in our leaner years. Cash Balances –TheTreasurer indicated a slide which showed the quantum of the club’s cash balances at the end of each financial year since 2014. As members could see, it had fluctuated over these years and at 30 September 2021 it was at a record high of £5.9m. Cash at bank and in hand at 30 September 2024 was £3.8m (a decrease of £701k on the position at 30 September 2023), reflecting the fact that ticket sales for our 2025Test with a non- WorldTest Championship nation were slower than they were at the same time the previous year, for a Test Match against theWest Indies. Mr Ellis concluded by saying that in summary: • There was a pre-tax surplus for the year of £643,703 • There was a strong cash balance at the year-end of £3.8m • Council Loans were now reduced to £4.8m.These were shown in Notes 14 & 15 in the Accounts on page 50 of the Annual Report • Although we had a Men’s Test Match in 2025, this was against a non-WorldTest Champion ship side, and so the club was not expecting to generate the same levels of profit as it would if the Test Match was against an establishedTest nation.The club was therefore budgeting for a deficit for the year ended 30 September 2025. The Treasurer proposed that the meeting should adopt the accounts of Nottinghamshire County Cricket Club for the year ended 30 September 2024. The motion was seconded by Mr RichardTennant and the meeting voted unanimously to adopt the accounts. 6. TO RECEIVE THE CRICKET REPORT FOR THE 2024 SEASON The Chair thanked the Treasurer and invited the Director of Cricket to present his report. Mr Newell began by saying that 2024 had been a year of contrasting fortunes for our men’s and women’s professional sides. Firstly, he wished to congratulate The Blaze for delivering the latest piece of first-team silverware to Trent Bridge, winning the Charlotte Edwards Cup. Mr Newell said that it had been one of the great pleasures of his job in recent years to see a professional women’s setup established here, and for The Blaze to be thriving in their relatively new surroundings. Their T20 trophy was joined in the room that evening by the men’s Second XI shield, after Steven Mullaney took on the leadership of that side early in the summer of 2024, and showed his ability to manage individuals at different stages of their cricketing journey. The likes of Freddie McCann and Farhan Ahmed – two success stories from the year – had benefitted from their experience within that team, and served to show the positive job that Steven Mullaney was doing. However, the performances of our men’s first team fell below expecta- tions, Mr Newell said, which we had to front up to. Nobody was satisfied with our performances in 2024. There were individuals deserving of praise: Haseeb Hameed led from the front as club captain, Joe Clarke and Ben Slater enjoyed strong seasons, and Lyndon James and Dillon Pennington impressed with the ball. While survival was secured during the final game of the season, to be under the threat of relegation was clearly not a position in which we had hoped to find ourselves. Mr Newell assured members that the club had taken steps to strengthen the bowling unit over the winter.The addition of Mohammad Abbas, Conor McKerr and Fergus O’Neill would help to offer the required depth and range of options for the upcoming season and, while it may be a cliché, JoshTongue would feel like a new signing as he looked to make his mark for the club in the summer. Mr Newell told members that he would like to pay tribute to two senior bowlers who had left the club. Luke Fletcher had left after 17 years of complete commitment to the cause – even if his enthusiasm and effervescence did land him in hot water with Mr Newell a few times in his early years.Without doubt Luke was one of the most popular players with team mates and members alike. Dane Paterson had been at the heart of the team and the dressing room for four years, and was never afraid to put in the hard yards required to