I am glad to report that our accounts are in a healthy state after a very busy year in which both income and expenditure have reached record levels. The sale of the limited edition prints has gone very well so far, and a good profit has been made. The 1st and Colts Villa went to France again this year, parents paid the majority of the bill, but club funds subsidised the trip as in former years. We have opened a high interest business account which has resulted in some new income.

A rough breakdown of the accounts is as follows:

Bluefriars supported training in France to an extent of approximately £1550 (about £85 per oarsman); those who went on the trip paid an average of £170). Bills for all other expeditions (Training at Putney, Head of the River, Summer Half Term and Bedford) were paid by Bluefriars (£820), with parents paying a total of £50 by way of contributions. We paid for two radios for coaching (£120). One contribution is ear-marked for buying a cox-box.

Good profits were made on the Bluefriars Head Race and on the sale of prints; following usual policy, only a small profit was made on sales of kit, ties, photos, etc.

We made large purchases of clothing during the year, and a good stock remains. I hope that next year's accounts will include stock values.

The discrepancy in photograph accounts arose because £60 was paid out in this year's sccounts for Henley '89 photos bought during the 88/89 accounting period.

The balance of funds at the end of August was The full accounts are available for inspection. They have been seen (but certainly not audited!) by two of my fellow rowing coaches.