November EC Meeting 2019
Capital Expenditure
-
(10,000)
-
(10,000) -
Depreciation
6,230
6,230
6,230
6,230
6,230
6,230
6,230
6,230
6,230
6,230
6,230
6,230
74,760 -
GFTU Loan
-
50,000
-
(10,000)
(10,000)
(10,000)
(40,000)
(40,000)
(40,000)
-
-
(20,000)
(120,000)
Exceptional
-
-
-
-
-
-
-
(7,000)
(17,000)
(17,000)
(41,000)
NET Cash Flow
(1,822)
(17,918)
10,614
27,047
(19,152)
25,783
23,174
(29,001)
38,432
2,567
(28,854)
(4,039)
26,832
Closing Funds
27,335
9,417
20,031
47,078
27,926
53,709
76,883
47,882
86,314
88,881
60,027
55,989
55,989
Hotel Profit Contribution *
(1,822)
(17,918)
10,614
27,047
(19,152)
25,783
23,174
(29,001)
38,432
2,567
(28,854)
(4,039)
26,832
Cash Flow Commentary
Cash Flow Forecast for the year is now £175k inflow, before £120k GFTU NET Loan Repayments. The QGH forecast trading results for November and December if achieved will mean that QGH will report its first Annual Profit for several years.
Revenue & Operating Profit
Accommodation - Rooms are now based on all new bed stock included
Occupancy - Total occupancy for the year has decreased by 1% achieving 69% against the budget of 67%
Average room Rate - ARR has again grown for the year and the forecast is now £66 against the budget of £63.42
Weddings - 3 in November Xmas Bookings all sold
Depreciation has been added to the original budget
CAPEX for the new year New Touch Screen White Board Technology has been ordered for the Conference and Training facilities
Exceptional
Electricity dispute with Total Gas & Power is resolved and the CCJ has been anulled a £7k payment was made into Court against the CCJ order in October and 3 payments have been agreed of £17k November December & January to settle the account.
GFTU Loan
The GFTU Forecast shows the budgeted Hotel Loan repayment surplus and additional Surplus Funds Contributions
Working Capital
Hotel promotions to Xmas expected to yield further cash flow gains
Q3 VAT Liability £89k is being paid £40k in November £49k in December
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