A good year: ukactive profits jump 123 per cent
Physical activity sector representative body ukactive has reported a strong set of annual financial figures, with turnover increasing by £2.3m and profits up 123 per cent.
At the organisation’s recent AGM, it was announced that the audited accounts for the year ending 31 March 2014 showed a turnover of £6,123,605 (2013: £3,813,755) and pre-tax profit rising to £268,514 (2013: £120,148).
The AGM also reflected on what has been a strong year for ukactive, with the launch of its award-winning Turning the tide of inactivity campaign and several other initiatives, including the body’s active role in the ongoing transformation of CIMSPA.
ukactive CEO David Stalker said the significant leap in turnover could be attributed to the fact this was the first year in which ukactive acted as the processor of its members’ PPL music licensing fees, with a sizeable sum (minus a small handling fee) passing across the organisation’s books and on to PPL, generating significant savings for ukactive members. This was also the case with Big Lottery Fund finance via The Spirit of 2012 Trust, with ukactive tasked with distributing the funding to its members and partners to deliver aspects of the project.
Speaking exclusively to Health Club Management, Stalker said he had long been tasked by the organisation’s board with building a financially secure association. He also mentioned the board's desire to maintain a central London address following the conclusion of ukactive's lease in September 2014 – a goal achieved by the organisation's recent move to offices in nearby Holborn.
“There have been numerous milestones achieved regarding our financial position and one clear achievement was obviously strengthening the finances sufficiently so that we were able to secure a direct lease on our new offices,” he said.
“We’ve had a good year on many fronts and as with any organisation this shows in our accounts. I am most encouraged by solid membership growth and excellent retention of members which drive the organisation forward.
“Fortunately, we are a non-profit organisation and our shareholders are in effect our members, so profits are simply re-invested into new projects and services that support members. For example, over the last three years we have invested heavily into leading research into the benefits of specific modes of activity.”
Stalker said the money would be used to pay for the recent ukactive governance review carried out by Portas Consulting, as well as the resultant recruitment of a new governing board, membership council and committee structures. He added that a significant investment had also been set aside to conduct research into the impact and value of the physical activity sector, with the results due to be announced at the 2015 ukactive Flame Conference.
“We’re working hard to grow the physical activity sector and drive it forward,” said Stalker. “As with all our goals, it’s important to be able to back this with hard evidence, so the valuation will help to show where we are.”
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