Salaries are fixed costs are variable and can be impacted by a range of factors from seasonal weather to cost of living. In other words, courses may be cancelled and even instructors not paid but fixed costs such as training centre staff still have to be covered. For the FY25 year, £6,244 was refunded by the training centre.

Cost of delivery is often fixed based on safety requirements of each event & CBYC doesn’t operate events with a view to making money, it operates events to support water sports activities. The figure of £1317 cost includes some contractor costs whilst these may have been posted elsewhere in the management accounts, they remain a fixed cost of delivery. Additionally there is a payment of £360 for an RYA invoice missed from the prior year as it was received late.

Question is unclear.

This is not a question for the 2024-25 AGM as it relates to the current financial year. All courses are available to members and they receive a 10% discount as benefit of their membership. Additionally, the club has provided a range of courses free of charge to the membership. Demand for shore based courses is variable and courses are operated to meet that demand.

By their nature, accidents occur randomly. Questions about individual staff are inappropriate and irrelevant in respect of AGM business. On a practical note, it is also inappropriate to routinely punish staff (or indeed members) where genuine mistakes are made. Internal review of accidents is undertaken with appropriate recommendations provided as an output.

This figure covers a variety of minor aspects including, first aid kit, advertising, boat survey, stationary, ad hoc contractor invoices, vehicle hire etc.

Maintenance costs exist regardless of usage. For example annual servicing of the RIBs costs in the region of £6,500 and is not a discretionary spend. It is essential to maintaining valuable club assets and compliance with requirements of insurance. It should also be noted that not all of this cost is attributable to the training centre, some of it is linked to central club activity, e.g. the provision of safety boats.

Of the total training centre expenditure the discretionary spend equates to less than 6% (£c,7,900) of operating cost. Whilst technically discretionary, the majority of this 6% spend is unavoidable for the safe operation of a training centre. e.g.. first aid kits, contractor fees etc. Is unclear what ‘tighter’ controls might be applied here.

No figures were presented AGM 2025 on the building project as it was incomplete at the time of the meeting.  We assume this is referring to the EGM in November 2024 where members approved the project and budget.
It is unclear where there £125k figure came from, it was never quoted. The final proposal that went to CoM included a figure of £150k with a footnote that figures were exclusive of VAT.  £150k plus VAT at 20% is £180k. (This figure never included fit out)
Additionally, the presentation to members  didn’t include specific breakdown of cost, just an overall project cost which included a line for estimated unrecoverable VAT at a value of £97k.

The clubhouse has always been a cost centre operated as a service to members. At the time the project was approved it was stated explicitly that the improvement was not designed to improve the financial outlook of the Clubhouse. Salaries were covered during the close down period where there was significant work undertaken in terms of planning, procurement, recruitment and training. If this ad-hoc spend was ring fenced then the annual clubhouse deficit was in keeping with recent financial outrun.
The customer base is limited to the total number of members but in reality many members do not use the facility at all. Under current ‘members only’ arrangements there is limited opportunity to increase footfall.  Operational efficiencies have been implemented but baseline cost of operation is fixed. e.g. staff, cleaning and utilities are required regardless of whether anyone comes to the venue. Whilst the Clubhouse finances are expected to improve during this financial year, until the issue of volume is addressed, the venue will continue to operate at a loss.

The bar has always made an operating deficit and has been viewed by the Club as a service to members rather than a profit generating business. Last year was exceptional given the extensive refurbishment. A variety of non-capital costs were incurred including staff cost during close down, recruitment, training, venue set up, uniform, crockery etc.
Operational efficiencies have been implemented but baseline cost of operation is fixed. e.g. staff, cleaning and utilities are required regardless of whether anyone comes to the venue. The customer base is limited to the total number of members but in reality many members do use the facility at all. Performance against budget is reviewed monthly. Under current ‘members only’ arrangements there is limited opportunity to increase footfall. Whilst the Clubhouse finances are expected to improve during this financial year, until the issue of volume is addressed, the venue will continue to operate at a loss. No guarantee can be given over future fee increases. Given that increases have been significantly under inflation over the last decade it may be unrealistic to believe that fees can be almost frozen while every single cost of operating is rising year on year.

Staff headcount has increased since the Clubhouse refurbishment as the offering has changed. There is a minimum staffing level requirement in place. In order to reduce headcount, service provision would need to be reduced.

As above.

There is a minimum staff resource requirement to operate a venue that is notably busier than pre-refurbishment with a significantly improved offering. Footfall is not predictable and in the first year of operation this has proved to be hugely variable. It has been possible to reduce casual hours to a minimum. However, members have been reluctant to make advanced reservations whereas most expect a full, timely service to be available if/when then do decide to visit the clubhouse, requiring staff to be on duty.

The Clubhouse encounters several challenges in respect of food margin. The general expectation of members has been that the restaurant will have reasonable choice available at all times and that ‘selling out’ is not acceptable. This requires food to be purchased & prepared regardless of how many people choose to eat on any given day.
If the weather turns and the venue is empty this leads to increased food wastage. Tuesday night curry night a good example; food is prepared throughout the day and if weather turns leading sailing to be cancelled then there is no one at the club to order curry. The same applies to sunday lunch.
Separately, there is a cultural price sensitivity around retail pricing. Despite being up to 30-50% cheaper than some comparable venues, some believe it is still too expensive making it impossible to charge prices required to achieve the margins suggested. This is further compounded by food inflation. Prices have and continue to rise at rates exceeding inflation. As overall volumes are low (in respect of the wider hospitality sector) the club is not able to negotiate better contract pricing.

Course charges are reviewed each year. Prior to the commencenemnt of the 2024-25 finanical year a review was undertaken and prices changed accordingly. As an example a 5-day summer camp rose by almost 40%. Whilst this improves margin, against the back drop of global cost of living challenges, it is less positive factor in terms of uptake, particularly in respect of families.

The guiding principle is to work towards breaking even across a varied social program operated for the enjoyment of members and their guests. Ticket prices have been set at a average meaning that some events turn a small profit and some more expensive acts generate a modest loss where the net effect is a breakeven result.
The club operates a separate budget line (within the social section) for the annual regatta which doesn’t not generate any income. The results for 2024 include the costs of all is referenced only against the Clubhouse social budget rather than including the regatta budget.

The Club is still insuring through the RYA affiliated scheme. Insurance rises inline with market influences includes, but not limited to inflation. Additionally, as the Club evolves, so do it’s insurance needs. New assets add cost as do rising cost of budling reinstatement.

Confidential and not AGM business.

Current staff in Marina is 2 plus 1 maintenance operative to cover preventative and reactive maintenance across the site. Headcount in Marina for most of FY25 was 3.

536 pontoon berths.

FY25 budgeted deficit was -49.9k but this was based on business as usual due to the unpredictable nature of the refurbishment. FY26 budget is deficit of -75.9k.

The General Manager oversees day-to-day finances, these are underpinned by delegated authority limits set by CoM. Baseline operating costs are fixed. Percieved ‘overspend’ is relative to income which can be forcecast but not set in stone.

Fuel dispense is limited to 150 litres per dispense. This is the same for all fuel registered berth holders.

The Club does not direclty employ or contract marketing or graphic design specialists. We rely on the broad skillset of our core staff team to support the development of both membership and public communications  alongside their core duties. All centralised communications have improved beyond recognition over the last 18 months. Whilst more could be done, this may require dedicated resource.
Comments RE: ‘Tuesday evening racing menu’ are  ambiguous and unsubstantiated. Tuesday ‘Curry night’ is one of the business ‘food’ evenings during the summer period. It is well supported and weather/activity dependent can attract upwards of 80 people ordering food. Having reviewed the ‘trade descriptions’ allegations, it transpires this is a matter of personal taste rather than statutory breach.

Yes there are but no more than one would find in a business of this size. These are highly sensitive & strictly confidential. No potential liability is clear at this stage.

The costs of the refurbishment of the main clubhouse and staff building are all included in the FY25 accounts. No costs are anticipated in FY26

Confidential and not AGM business.

While this approach has its merit from a financial point of view so that each section is run along business sustainability lines, there is a question of balance.
Application of this way of thinking rigorously will drive the club to becoming a boat storage facility and a car park as other member facilities fall by the wayside. Membership fees would need to be increased significantly driving members out of the club and shutting the doors to new members unless they have a boat to berth. The bar and restaurant would shut as would the training centre helping families teach their kids and adults new to our sport how to enjoy boating safely. Crew for boats will become even more scarce and the dinghy section would disband having been forced into higher than market increases. The fishing section may survive with its ability to secure sponsorship.
The club would completely fail on its mission of promoting all watersports. Its status as a community organisation would be undermined which gives it an ability to seek community/sporting grants and be seen as such by the government. Our VAT status would be challenged which could lead to an extra 20% offsetting savings in costs from shutting down the loss making parts of the club.
Finally the berth holders already save significantly when compared to the market. We charge a gold berth member 53% of Cardiff Marina prices and 48% of Penarth Marina prices. Our lift out fees are cheaper while services are comparable.
The reality is the berth holders need the club as a whole to thrive.

Justified based on cost increases since last year
A 10% increase in berthing fees will increase revenue by £84k
Some permanent increases of costs include
  • Harbour dues increased by  £24k from FY24
  • Insurance increased by £13k from
  • Provision for future repairs of pontoon system
Justified when compared to other marinas.

See above.

There was an overall surplus of £15,113 before write off of building project costs of £820,255 = final deficit -£(805,142)

Fees are based on revenue and cost projections for the whole of the year rather than what is in the bank at any point of time.
Part of the reason why we had a high cash balance at the end of November 25 was because we hadn’t paid our harbour dues yet. From December 25 to Jan 26 we paid out £215k to Cardiff Council for harbour dues.
Generally peak cash inflow occurs by the end of the summer after membership & berthing fees have been mostly collected and most large events completed. We generally experience a sustained cash outflow until around April when berthing fees & memberships are renewed again.

See slide.

As discussed at the AGM and EGM, the primary purpose of the refurbishment was due to the general tiredness and tattiness of the existing premises and increased repair bills primarily from the fact the building was over 30 years old. Various solutions were proposed ranging from two that sought to increase the footprint of the existing building (options 1 & 2 with option 2 a phased approach of option 1) and the other which was to keep the clubhouse in the existing footprint with a deck extension and a separate staff office to free up space in the main building. The proposals with costs that were known at the time and estimated timeframes were presented to the membership and voted on. There was no other plan than that.
The results to date of the final option (existing footprint) is in the slide.
The COM would love to see all sections profitable or at least break even and strive to do so. However with the bar and restaurant limited by only offering its doors to members/families and not to the general public and with high expectations of level of service by members, we believe a surplus is unlikely. We believe the training centre should be break even but that requires a stronger business focus which is being brought in gradually.

Marina – irrecoverable VAT is included with the costs of the item in the relevant cost.
Regarding the refurbishment, irrecoverable VAT has been included in the refurbishment cost. Other items such as the office building, office furniture & toilets was partially recoverable. The total irrecoverable VAT on the refurbishment was £66,622
VAT on items relating the bar/restaurant have been fully recovered and hence are excluded from refurbishment costs. This was £111,413

Our advice received from our auditors was that club interest income was not subject to corporation tax

No assets have been revalued at this point. This is being reviewed primarily for insurance purposes.

Because the underlying nature of the asset has not been changed. The refurbishment has definitely has improved the club house but not changed its nature. The staff building has been capitalised as it is a new building, increasing the total floorspace of the club.

Your view implies you believe our refurbishment should be capitalised. Our view is that it should be written off as the nature of the main building was not changed. Our view was endorsed by our auditors.

Clubhouse fixtures & fittings 2% straight line
Compound works 10% reducing balance
Pontoon & slipway 10% reducing balance
Marina equipment 10% or 20% straight line
Marina electrics 33% straight line
Kitchen equipment 10% or 20% straight line
Computer equip 33% straight line
Boats 10 (Optimists, Laser 2000s & RIBs)/20% (Hawk, Hanse 303, Celtic Longboat) straight line
Boat engines 20% straight line

No it hasn’t. We had a bit on in FY25. This is something we are looking to do and have been working on some plans around governance, future capital developments and other strategic initiatives.

No steps have been taken against the auditors apart from to chase them. They had a significant change with one partner leaving their organisation.
It is the members choice who they wish to appoint as auditors.

The COM do not believe that the finances are ‘out of control’ and a management consultant would not be able to resolve any issues we are dealing better than what we can do internally.

The previous arrangement for RIB servicing has not changed, it remains in effect.  In addition to servicing we also have a RIB replacement program.
The RIB’s are vital pieces of safety equipment that are aging hence a servicing program alone is not sufficient to ensure their ongoing effectiveness.
In the case of the 2 x purchases, the first new RIB replaced our oldest RIB, which following reviewing was determined required re-tubing. Having obtained 2 x quotes for the retube it was determined this work would render the RIB beyond economical repair, therefore we opted to replace it instead.
Following an RFP process we were able to obtain a price for a replacement that represented approx. a 30% saving over the list price, the seller was able to extend this offer to 2 x boats, therefore as the 2nd RIB is due for replacement this year, and was also requiring a re-tubing, we opted to utilise the 30% saving and replace both RIBs at the same time.  Note, part of the purchase also included a free first year service.

The members fees were incorrectly set at 10% in the agenda. There is a new resolution to increase membership by RPI (approx 4%) which we introduced last year.

Yes we do. It is included within marina fuel purchases. On average monthly the hoist and telihandler 150 ltrs or around £110/mnth = £1,332 or for the year.

The club has not changed the policy regarding pricing of fuel. The price over an above what one finds in car service stations or in other marine facilities reflects our low purchasing power.
The diesel pricing calculation is on a slide.

The detailed budgets and monthly management accounts remain confidential to the COM and will not be distributed to members.
However as previously disclosed the FY25 budget deficit for the bar and restaurant was -£49.9k. However this was based on ‘business as usual’ as we did not precisely know the timing and duration of the refurbishment.
Nevertheless, we did make some strategic decisions that cost money during the refurbishment which was not taken into account in the building costs, namely:
o Retain key staff during the refurbishment rather than lay them off only to re-employ them prior to opening. This was to maintain continuity within a hospitality industry where it is notoriously difficult to retain and attract good staff
o Bringing on new staff not in the budget to enhance service levels for members upon opening the clubhouse and to plan menu, service levels, implement a new point of sale system
o Recruitment fees & wages for bringing on staff well beforehand for training
o Replacement of crockery and consumables

While in the past we have reduced opening hours during the Christmas/New Year period due to lower demand, we are looknig to increase availability of services this coming festive period including bar openings and obtaining limited Marina services.

The COM believe that with the strong relationship with our current bank HSBC who were in regular communication throughout the planning and carrying out of the refurbishment, this should not be an issue. Nevertheless we would need to improve our free cash flow to maximise any borrowing limit should we ever require it. On a recent exploratory discussion with HSBC’s account manager about future projects, she did indicate that HSBC would take into account earning of assets being created/purchased in the calculation of borrowing ability.

No allocation for usage of staff of real estate space is done for any section. There are also training centre assets used by other sections for which allocations are not made. Detailed allocations across all items and sections can be very time consuming, expensive and controversial to run. The decision to implement full allocation may have limited impact in providing information for decision making.

Associate – 59, Crew 142, Full 731, Junior 21, Life 26, student 6 (excluding Cardiff Uni group agreement) Figures are live so therefore correct at 12/05/26.

This is not permissible under the articles of association which sets out the rights of members to vote.

Is there a plan for shower and toilet facilities for the marina berths at some point? Is there a plan for having facilities for the yard, i.e. people who are dirty not having to walk into the clubhouse and stain everything with whatever shade of antifoul they may have just been sanding/painting?

 

Regarding the perennial issue of not only footfall but ‘customer’ retention, we appreciate all the effort that has been taken by the club. However, this situation appears to be continuing, i.e. lack of a regular clientele. Can I ask if a study has been undertaken of the surrounding establishments that exist solely on the basis of their food and beverage sales, i.e. they make a profit or they no longer exist. It is reasonable to anticipate that the clubhouse will struggle as a money-making entity. This can either be considered a problem or as an outcome of running a social club where people pay a fee regardless of whether they use the facilities or not. Therefore, why not draw a line of the losses that are acceptable in order for the clubhouse to remain a social facility. One point is that there is nothing at the clubhouse to engage people beyond drinking, eating and chatting to friends (if you look at old photos there were outdoor play areas for kids and pub games in the bar). As has been recently demonstrated by the success of the Nimrod participation, giving ‘ownership’ of events shows what is possible. As a footnote, we have been effectively ostracised by the almost total lack of vegetarian options at a reasonable price. This again goes to the fact that the club is not catering in a broad enough sense at a competitive price. As has been suggested by others, perhaps limiting the kitchen to weekends and special events would be more in keeping – and during the week having links with nearby establishments who are prepared to deliver in a timely fashion to the club (people already get takeaways delivered to the club and eat it on their boat).

 

Surely it is possible as we have 2 bars, to hold a private event for members and friends in the upstairs bar ie. wedding celebration, funeral wake or birthday party with the downstairs bar open for members with food service provided even if it’s a curtailed menu. I feel that if members have enough notice but they still have facilities available they will understand. This may go some way in helping to alleviate financial losses.

 

Why is there no telephone in the bar to answer members requests regarding restaurant availability, menu queries or something else? Reading WhatsApp there seems to be questions about this most days when food is available especially at weekends. If they could ring direct it would immediately solve their problem and probably prevent them going elsewhere when their question isn’t answered immediately. It’s become obvious that not everyone reads their emails!

 

I would like to suggest buying a small card payment vending machine, which could stick soft drinks and snacks. This would provide members with options when the bar is closed. It could be stocked by bar staff. If there is member appetite for alcohol, a machine that can be set to only accept credit card for alcoholic items could confirm age verification.

 

Please can I ask why the Club is not investing in improving the management of the Marina- I have had a miserable experience over the last 8 months waiting for a berth, i was prevented from taking up an offer of using a friends berth whilst their boat was away a decision which I felt was unreasonable. The waiting list is not transparent, there are many empty berths which could be used, increasing the revenue to the club- 4 on F for most of last winter. The Marina is our main income earner, why is it not professionally managed.

 

We used to have for years a picnic bench with combined seating out side of the fishing section ,I making would it be possible to have one reinstated

 

Can you tell what is being done to reinstate the Club’s webcam. It’s now been out of action for a couple of years and was previously promised to be reinstated when the refurbishment was completed.