Galloway Woodturners

We're in Galloway and we turn wood

2017 AGM Treasurer’s Report


GW Treasurer Report 2017

But first, some history

As this is my final treasurer report I thought I would start by reflecting briefly on how things have changed since I started.

In 2009 we were meeting once a month in the Community Centre in Castle Douglas. We had one lathe, the Axminster M950, and one small TV which were stored in a cupboard and brought out every month for the club meeting.

In 2010 we put the lathe on castors to make it easier to put away every month.

Around 2012 we started meeting weekly at Robert Irving’s garage and acquired two more lathes, but continued to meet monthly at the Community Centre.

At the beginning of 2014 we moved into a corner of a workshop owned by Irving’s Bakery. It was big and airy and, with the timely assistance of a grant from the National Lottery, we acquired more lathes and a bandsaw. We also started a small ‘shop’ comprising a box with abrasives and sanding sealer and some wax.

Since 2014 the shop has expanded, first into the bottom of a small cupboard, then the whole cupboard and latterly into two bigger cupboards. Later this year we hope to expand it again into a kiosk with a till and a counter.

Finally, earlier this year we put in the new ceiling which has transformed the workshop into a warm and pleasant studio, admired by members and visiting professionals alike.

Commensurate with our gradual development of the club, the accounts have also seen a steady increase in turnover which is only likely to increase further as the shop develops further.

Accounts for 2016-17

Finances have been stretched at times over the year, mainly due to the expense of having the ceiling put in.

Our balance for the year is down but we have no costs expected in the forthcoming months so we anticipate getting the funds back to a reasonable level by the end of the year.


Expenditure on the ceiling was minimised by the amount of work done by a few of our members, not only in terms of labour but also in terms of liaising with local businesses to get materials free or at very reasonable prices. Without their efforts it is doubtful we would have the superb facility that we have today.


A sterling effort was made on the fundraising front with over £2800 raised:

  •  £600 from the auction in October organised by Phil Jones
  •  £360 from a tombola and prize draw at the Co-op in Castle Douglas organised by James Brown and his wife
  •  £425 from a bookstall at the Co-op in Castle Douglas organised by James Brown’s wife
  •  £240 from a wood quiz organised by Freddy Dalziel
  •  £550 from the club supporting the Stewartry Sportive cycle event organised by the D&G Members Group of Cycling UK

Without the efforts of these few people we would have been seriously short of funds this year.


Categorisation of income and expenditure has proved to be difficult, especially as the shop has continued to expand.

There are a number of other possible reasons why the figures show a loss for the shop this past year:

  • Categorisation of income and expenditure is not accurate (see unallocated income £505.23)
  • Orders for members have been paid for by the club, but not paid for by members before the end of the financial year (at least £574)
  • Stock taken for use in the workshop but not categorised as such
  • The difference in stock value may not be accurate
  • Stock is going missing

We have identified two ways that we intend to minimise these problems:

1. Restrict access to the shop by building a kiosk with a serving hatch

2. Introduce a till that will make it easier to categorise income and cash expenditure


Finally, over the past 8 years our accounts have been assessed and certified free of charge by David Campbell, friend of member John Colbeck. David has been extremely helpful in keeping my books straight over this time but he has indicated that he is retiring after this year so, on behalf of the club, I wish to extend him our sincerest thanks.


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