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PostPosted: Thu Apr 19, 2012 12:02 pm 
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Having read some "fantasy figures" from another thread I thought you might be curious to know a sub-set of actuality.

CoM went live in March 2010.

Since then, income received from sales of product via PayPal has been £2481

As we all know, many persons and schools do not (or are not authorised to) make purchases via PayPal and they use other means.

I do not have access to the figures from other payment means.

I am trying to understand how what I have revealed above correlates with the figures given in the various financial reports (corrected and uncorrected).

I am sure that many of the users of this forum are accountants so perhaps light could be shed on this anomaly?

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PostPosted: Thu Apr 19, 2012 1:00 pm 
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John Upham wrote:
CoM went live in March 2010.
Since then, income received from sales of product via PayPal has been £2481
I am trying to understand how what I have revealed above correlates with the figures given in the various financial reports (corrected and uncorrected).


You would have to look at three years' of accounts, namely 2009-10, 2010-11, 2011-12, since a product launched in March 2010 would have sales in all three. You also have the issue that they probably took VAT off or added it on, somewhere in the accounting process. But the current board have no faith in this project and are presumably doing nothing to monitor it, such as requiring analysis of the revenues.


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PostPosted: Thu Apr 19, 2012 2:33 pm 
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According to the ECF's 2010/11 accounts the board terminated the CoM project and wrote off £5,000 "development costs", which reduced their budget forecast from £16,000 to £11,000. Any sales of the remaining 'stock' should have made a dent in that presumably?

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PostPosted: Thu Apr 19, 2012 2:40 pm 
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I also note that they gave a period of 5 years depreciation for the project to die a graceful death.

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PostPosted: Thu Apr 19, 2012 3:04 pm 
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John McKenna wrote:
Any sales of the remaining 'stock' should have made a dent in that presumably?


I should clarify that sales of product falls into two main categories: Goods and Services.

Goods are: Printed booklets, DVDs and SRs Openings book. All of these cost real money to stock the ECF warehouse with. These continue to sell at a trickle.

Services are: payments to take tests. The web site continues to sell these with a small fixed cost of the server hosting at Zen Internet. So, sales of tests is more or less pure margin.

If only the Director of Marketing was to throw his weight behind this. We could see a Certificate of ChessBoxing Merit possibly?

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