Treasurer’s Report 2019

At the LDAC AGM The Treasurer presented an overview of the Club’s efforts to purchase the River Fowey Newbridge fishing in 2018.
He noted that the Club had always sought to purchase fishing if it became available. As background he stated that fishing had been purchased at Golitha (1985), Jacks (1997), Lewarne (1998), Doublebois (2004) Hendergrove (2018) and the Club had also donated substantially towards the FRA Draynes sanctuary purchase in 2018. In July of 2018 Kivells advertised the sale of the Newbridge stretch of the Fowey River. The Club bid on the stretch but was advised that a higher bid had been received. That third party sale subsequently fell through and the Club then directly negotiated a second (increased) offer that was accepted by the seller, Lanhydrock Estates. With solicitors instructed the sale progressed and land registry, river-bed ownership and access matters were examined to ensure that the Club would have full, un-encumbered title to the fishing.
In mid-November the Club was surprised to hear that the sellers were seeking membership dues from its Angling Association members for the 2019 season. It transpired that the sellers had decided to withdraw from the sale but had not advised other parties to that effect.

More positively, our membership proved highly supportive and very generous in making interest free loans and donations to enable the purchase offer to be made. The Treasurer wished to put on record his personal thanks for that support.

The Treasurer then presented and reviewed the P&L account for year ending December 31st 2018. It was noted that despite concerns over membership numbers the Club had retained its subscription income year-on-year.
Allowing for all costs in the year the Club carried forward £28,122.33p, an increase of £1,541.75p on the previous year. Whilst this headline result is reassuring, the Committee is aware that 2019 will be critical financially. Notwithstanding, they have decided to keep subscription rates at their current level for another year – to encourage membership when our fishing is under considerable pressure both in quantity of fish caught and further restrictions on methods and overall catch limits.

We are pleased to note that many of our riparian owners have also recognised the financial uncertainties we are facing and have agreed to a 20% reduction in rental rates whilst we weather the not-so-perfect storm of increasing regulation, the effects of commercial netting at sea and climate change.
We thank them for their understanding and support.

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