Gloucestershire CCC accounts for Year Ended 31 January 2024
15 April 2024
Ahead of the AGM on Monday 29 April, Gloucestershire has today published its accounts for the year ended 31 January 2024.
To view the Club’s Financial Statements and other relevant documents relating to the AGM, click here.
Commenting on the financial position, Chief Executive at Gloucestershire Cricket, Will Brown, said: “Clearly this has been a very challenging financial period for us and it is disappointing for everyone connected with the Club to be posting these accounts. Despite this, I am pleased to say that these accounts are signed-off on a going concern basis.
“We knew that 2023 was going to be a difficult year financially and while we have seen positive growth in some areas of the Club, namely the BS7 Gym and commercial sponsorship, there are other areas of weakness that have led us to the position we now find ourselves in.
“There was a shortfall in ticket sales largely driven by the England vs Ireland Men’s One Day International played in Autumn 2023, which brought in considerably less than the alternative potential fixture of England vs New Zealand would have. We also encountered challenges with catering, which was brought in-house in Spring 2023, and events, two areas which did not achieving targeted income, in part due to changes in the way we operate that required some investment. All of this was exacerbated by the fact that we, like all Clubs, continue to be impacted by the fixed nature of the majority of our central funding. Ultimately, the growth of the business has not kept up with the rate of inflation and the impact this has in real terms on our operational costs.
“In addition to this, we are exploring a number of long term strategic changes, including the potential relocation and sale of the Nevil road site. This means that we have made some tactical decisions around the Nevil Road site which have negatively impacted our results in 2023 in the knowledge that they will bring greater financial benefit in the long run.
“Despite all of this the financial future for Gloucestershire does look more optimistic. Our financial results from the first couple of months of 2024 look promising in comparison to last year, we have made considerable changes to our operational and trading functions and we have an improved men’s international with England vs Australia scheduled for September. While there’s no doubt there is still a lot of work to be done, I have confidence in our ability to post significantly improved financial results in 2025.”
The Annual General Meeting of Members of Gloucestershire County Cricket Club Limited will be held at the Seat Unique Stadium, Nevil Road, Bristol, BS7 9EJ, on Monday 29 April 2024 at 7pm.
