The Association's total Income of £22,378 was virtually unchanged from 2003 (£22,609), while Administrative Costs were reduced by 6.5% to £9,557 (2003: £10,221). However, notwithstanding these economies, the Association made a loss of £1,016 (2003: loss of £3,940) due to the Board's decision to continue to contribute to the cost of developing Fives at Westway, through Howard Wiseman as Coach & Development Officer, with a grant of £11,000 (2003: £13,012). Half the cost of this grant coaching, and of coaching at schools, is refunded to the Association by the Eton Fives Charitable Trust.

Over the last two and a half years the Association has materially assisted with the costs of setting up and coaching at Westway. As reported more fully elsewhere in this Report, Howard has now established Fives at Westway on a sound basis, and the Westway Development Trust appointed David Mew in April to succeed Howard and to consolidate and expand further this outstanding initiative.

To recover some of this loss, and to help fund the future coaching and development programme of the Rugby and Eton Fives Coaching Agency, it has been resolved to increase the subscription for individual members from £15 to £20 with effect from 1 July 2004. Members are being asked to pay by direct debit as this eases the administrative burden of the Association.

HSBC Insurance Brokers again sponsored the Schools Championships - in which a record number of pairs competed - in the sum of £1,500. We continue to be indebted to them for this, and also for the excellent dinner for the Bursars and Masters in charge at Fives playing schools, which was hosted this year by Highgate School during the Schools Championships. We look forward to continuing close relations with HSBC in the future.

All revenues from the sale of coaching manuals continue to be offset against the cost of stocks held.

The game of Eton Fives continues to remain in urgent need of further funds to support Eton Fives playing activity all over the country. Please contact myself or Richard Barber, our Chairman, if you have any ideas or suggestions about sponsorship of our activities.

M.P.P.

Treasurer's Report 2003-2004 by Martin Powell
Finalised 15th December 2004 : Mike Fenn
efa@etonfives.co.uk

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