Welcome to the Wycombe Wanderers Trust

  • "Safeguarding our heritage and promoting a successful and sustainable future."

Browsing the Trust Matters category

Sep
23

Opportunity to stand for election to the Trust Board of Directors

As previously advised, this year’s Annual General Meeting of Wycombe Wanderers Trust will be held on Thursday 29 November 2018. Formal notice will be issued in due course.

One item of business will be the election, or re-election, of members to the Trust Board of Directors. Three Trust directors, Trevor Stroud, John Bignell and Nigel Kingston are due to retire, and all three have indicated that it is their intention to stand for re-election.

Nominations are welcome from all members, but particularly those who have the necessary time and skills to contribute to the running of the Trust.

If you are interested, please contact me (details below) to arrange an initial discussion and to request a Nomination Form. Nominees need to be paid up members of the Trust and must be nominated by two other such members.

Nomination Forms must be returned to Adams Park, marked for my attention please, by Saturday 3 November.

Thank you
David Smith
Director and Secretary
dsmith@wycombewandererstrust.com
07775 518 211

Sep
9

Live Streaming of Trust Members Meeting

For members unable to attend the Trust meeting on Wednesday 12th September at 8pm it is planned to live stream the meeting.

As a result of the sensitive nature of the information being presented, it is planned to use a private Facebook group to stream the meeting live, so you will need to have a Facebook account.

Follow the link to the Facebook Group WWT Live Stream via  https://www.facebook.com/groups/1930775593696898/ or search for the group name on Facebook.

Ask to join the group and if you are a current Trust member, your request will be accepted and you will be added to the Live Stream Group. If you use a different name on Facebook to the one you are registered with the Trust, or you feel you have been unfairly denied access please e mail trevor@wycombewandererstrust.com

If you have a question that you would like asked on the night about the presentation, please send it to tony@wycombewandererstrust.com and Tony will ask your question on your behalf.

This is the first time we have tried something like this, so please bear with us if we have a few technical difficulties.

Many thanks
Trevor Stroud

Sep
7

Members Communication – Friday 7th September – ‘Save The Dates’

The Trust Directors are looking forward to seeing as many of you as possible at the meeting called for 12 September, but I am writing to you now give you advance notice of some other important dates for Trust members in the next few months:

On or before Saturday 3 November, nomination forms must be received for candidates for election as Trust Directors at the 2018 AGM. We will email members with more information about this nearer the time, including how to go about securing nomination, but in the meantime do please consider whether you would like to be considered for election to the Trust Board, or whether there is any other member you would like to nominate.

There will then be a “Meet the Candidates” opportunity in the Caledonian Suite before the home game against Shrewsbury on Saturday 24 November.

The Trust AGM itself will be held on the evening of Thursday 29 November, in the Caledonian Suite. The agenda will, as usual, include not only the election of directors but also the approval of the Trust accounts for the year to 30 June 2018, a presentation on the last year’s activities, and a general Q&A session. This year, for the first time, we also hope to have a presentation from our charitable arm, the Sports and Education Trust.

As in previous years, we will also be holding a Finance Forum, to enable those who are interested to delve a little deeper into the Trust’s accounts than is practical at the AGM. The Finance Forum this year will take place on the evening of Wednesday 12 December, in Monty’s Bar.

Further details on all these events will be sent in due course but the Trust Directors are keen that as many members as possible are involved and so we want to ensure you have the dates for your diary now.

With best wishes
Trevor Stroud
Chairman

Sep
3

Trust Matters: Monday 3rd September

The following first appeared in Saturday’s Matchday programme – Parklife:

Meet your Trust Board: John Bignell (pictured on right with Simon Garner)

John has been on the Trust board since 2015 in the role of Membership Secretary. He is also a board member of Frank Adams Legacy Ltd where his brief is club memorabilia and artefacts.

He has been on the committee of the WW Ex-Players Association since 2011. In this capacity following the 125th anniversary exhibition at Wycombe Museum he helped organise the movement and installation of the display to the Scores Bar and the subsequent conversion of Scores to Monty’s which was financed by WWEPA.Having spent 28 years in the printing industry John then worked for the National Trust for 15 years. He currently works part time for a private estate in Hampshire. He has previously worked voluntarily for the club in a football secretarial role.

After over 60 years involvement with the club, he watched his first game against the Uganda national team in 1956, John is very happy to be able to offer his experience of the commercial and leisure industries and of working with volunteers to the Trust board, members and the club in general.

Trust General Meeting

There will be a Trust Members General Meeting on Wednesday 12th September 2018, in the Caledonian Suite at Adams Park, starting at 8.00pm.

The purpose of the meeting is to update members on the financial position of the Football Club, to present options, in principle, in terms of the future financial stability of W.W.F.C., and to enable the Trust directors to understand better how members view those options. It is important that members fully understand the financial issues facing us and are involved in any decisions about the future.

I cannot overstress the importance of this meeting, and I would encourage as many members to attend as possible. We are investigating the feasibility of live streaming the evening, so members who are unable to attend in person, can hear what is being said.

The meeting will only be open to Trust members, but supporters can join on the night (or before).

There will be the opportunity to ask questions on any other issue that members may have following the discussions regarding the financial options.

The Caledonian Suite will be open from 6.00 pm and hot food will be available to purchase on the night. We look forward to seeing as many as possible on the night.

BDO Football Finances Report, Some Key Findings

  • 63% dependency on principal shareholder to make up any capital shortfalls 
  • 92% of FL1 owners looking to exit in next 12 months
  • Majority of EFL clubs have been discussing potential investors… fewer far east, increase in USA interest
  • Overall reduction in FL1 financial confidence… we are one of the 15% where finance is “…a cause for concern”
  • 77% reporting pre-Player Sales loss
  • 69% reporting a post Player Trading loss (includes us)
  • 25% of clubs using facilities to get an advance in Season Ticket income 

Trust Directors Sponsor Yves

As a result of Luke O’Nien’s departure to Sunderland, the Trust Directors have switched their shirt sponsorship to Yves Ma-Kalamby.
The cost of this sponsorship is met by the directors themselves and not out of Trust funds.

Why the Trust Matters

Trust ownership has given the Club a level of stability that had been lacking previously. The Trust passionately believes in the preservation of the heritage and history of our Club and seeks to share it with the wider community. The Trust is a volunteer led, democratic organisation which seeks to foster a real sense of ownership amongst the Club’s supporters. The Trust is an ever-changing entity, not constrained by the whims of individual Directors or owners.  All Trust members are equal and anyone of them can be elected or co-opted onto the Trust Board and, from there, onto the Club Board. The Trust’s annual subscription of £10 per annum makes Trust membership accessible to all. If you are not yet a member of the Trust, or if your membership has lapsed, now is a good time to join. Contact John Bignell at johnbig@btinternet.com

Trust Matters Feedback

If you have any queries about Trust Matters or if you would like us to consider adding something to the next edition, please contact Trust Matters editor, Nigel Kingston on nigel@ascom.net

Aug
23

WW Trust General Meeting

There will be a Trust Members General Meeting on Wednesday 12th September 2018, in the Caledonian Suite at Adams Park, starting at 8.00pm.

The purpose of the meeting is to update members on the financial position of the Football Club, to present options, in principle, in terms of the future financial stability of Wycombe Wanderers Football Club, and to enable the Trust directors to understand better how members view those options. It is important that members fully understand the financial options facing us and are involved in any decisions about the future.

I cannot overstress the importance of this meeting, and I would encourage as many members to attend as possible. We are investigating the feasibility of live streaming the evening, so members who are unable to attend in person, can hear what is being said.

The meeting will only be open to Trust members, but supporters can join on the night (or before).

There will be the opportunity to ask questions on any other issue that members may have, following the discussions regarding the financial options.

The Caledonian Suite will be open from 6.00 pm and hot food will be available to purchase on the night.

I look forward to seeing as many of you as possible on the night.

Trevor Stroud
Chairman

Aug
8

Fans Keep On Giving….. So We Can Provide (Updated August 2018)

Notwithstanding the success of the 500 Club in the last year or so, the WW Trust Share Scheme launched in 2015 continues to thrive and produce much needed income for the Football Club.

Over ‘one hundred and eighty’ fans are still contributing with either monthly or annual payments to the Trust over a five year period and these are on top of the 160 who have made one-off payments in the last couple of years.

Those single payments have been of amounts between the minimum of £100 and the maximum of £100,000.

To date some £610,000 has been banked with more than a further £130,000 committed to be received over this and the next 2 seasons.

So what are we doing with your money?

Much of the initial inflow has gone into helping to stabilise the financial position of the football club by providing some much needed working capital. This allows WWFC to be able to pay its bills, (present and past) in line with agreed schedules and repayment plans.

As was outlined in our Share Scheme prospectus/brochure we have also been able to provide the money to make the best use of our prized asset – Adams Park. So far, some of the completed projects, which are thanks to Share Scheme money (and which would not have been affordable otherwise) are:

  • New lawnmower (from OWWSA contributions)
  • New club flag
  • Medical equipment to boost return of injured players
  • Replacement seats (Summer 2016 – from OWWSA Contributions)
  • New TVs for concourse etc
  • Big Screen repairs
  • Player Purchase – Michael Harriman
  • GPS Equipment – the player running tracking system
  • Security Fence for away end
  • Fixing of the heating/Air Con system in Caledonian Suite
  • Paint for various stadium areas (from OWWSA contributions)
  • Full structural survey of the stadium – required for safety certificate reasons
  • More paint (Summer 2017)
  • Further replacement seats (Summer 2017)
  • Essential refurb and extension of the dressing rooms – as demanded by the EFL (Summer 2017)
  • Upgrade of the CCTV equipment – so vital to maintain our safety certificate
  • Replacement IT equipment for Gareth and his team at the training ground – from OWWSA contributions
  • Contributions towards repair and maintenance of the Adams Park floodlights – from OWWSA contributions
  • Even more replacement seats – December 2017
  • New boiler to provide hot water for the players and staff at the training ground
  • Essential repairs and replacement of lighting units in the Frank Adams Stand

If you feel that fan ownership is worth more than the annual membership fee, then do join in with those who are contributing a bit (or a lot) more. See any Trust Director manning the table before each home game in the Caledonian Suite or go to our special Share Offer page via this link .

Any questions on the scheme can be sent by email to shares@wycombewandererstrust.com

Aug
6

Trust Directors Get Behind Yves Ma-Kalambay

Well – if they did that literally, then you would not see much of them!

After their earlier choice moved on to another club, there was just time for your Trust Directors to switch their sponsorship onto our giant goalkeeper.

Yves, who is very keen and pushing for a first team place, featured in the last game of the 2017-18 season and in several of the pre-season games this time around.

The Trust Directors do this sponsorship out of their own pockets and those who were able to be present for the photo and shown in the picture (l to r) are Lawrie Read, Alan Cecil, Trevor Stroud, John Derben and David Cook.

Aug
4

Trust Matters: League One – Saturday 4th August 2018

The following articles first appeared in today’s match programme ‘Parklife‘ and were emailed to members earlier this week. This is now an updated version.

Meet your Trust Board: Alan Cecil of WW Trust

Alan is one of the longest serving Trust Directors having been first elected to the Board in April 2011. He retired from a 40-year banking career in December 2012 and immediately put that experience to work by helping to improve the financial position of the Trust and the Football Club.

He continues to help out with the finances and has been the administrator of the Trust’s Community Share Scheme since its inception in 2015 which involves a great deal of admin in his own time, whilst he’s also a Trustee of Wycombe Wanderers Sports and Education Trust and a graduate of their second FFIT course.

From working in several customer service roles, Alan knows how  important communication is to our members and he took on the role of Trust website editor as well as  managing their Twitter account and  Facebook page. Alan will regularly read the  views of members and other fans and bring their issues to the Trust Board for discussion.

He has been a Chairboys fan since 1993, rarely misses a home game and travels to about half of those played away. His wife and family are all involved  in supporting and/or working roles and both Alan and Gaynor assist with various other voluntary duties for the benefit of the Club including programme selling and distributing team sheets on matchdays.

The Trust and League 1

This season will be the first time since the Trust owned the Club that we have been in League 1, so it will be a new experience for us all. We all start with excitement and hope for the future and a determination from the Trust Board to put the Club on as sound a financial footing as possible. We still face the issues of short term cash flow and profitability and how to compete against the majority of Clubs in League 1 who have budgets many times our size.

Chairboys Funders Update

The initial scheme reached its 5-year end date at the start of May.  Chairboys Funders Limited therefore issued  further Loan Notes to continue this vital and successful scheme and these were fully subscribed by some of the original Funders, whilst others have understandably taken repayment.

The Trust Board would like to place on record its appreciation to all the supporters who stepped up in 2013 as the original Chairboys Funders. It is also very grateful to those who have agreed to ‘continue with us on the journey ahead’ and support our exciting new future in League One.

Notes from Recent Trust Board Meetings

The short term cash position in June and July has remained challenging and detailed discussions are in progress with potential lenders to help resolve this funding issue over the next few months.

Budgets for 18/19 have been reviewed by the Trust and a monitoring process agreed for on-going review at Trust board meetings.

We have been informed by HMRC that shares to be issued under the Community Share Scheme will no longer qualify for tax relief under the Enterprise Investment Scheme, or EIS. This means that we are, regrettably, no longer able to make EIS relief available for future share issues. All existing shareholders that this ruling affects have been written to explaining the how this affects them. The Trust Board will consider the future of the Community Share Scheme as we approach the end of our initial 5-year plan, and these changed circumstances will mean that we will do this as soon as possible.

A working group within the Trust board has been set up to determine the best way of engaging with our fans and keeping them up to date with developments.  Trust Directors are now also attending Fans Council meetings on a regular basis.

Why the Trust Matters

Trust ownership has given the Club a level of stability that had been lacking previously. The Trust passionately believes in the preservation of the heritage and history of our Club and seeks to share it with the wider community. The Trust is a volunteer led, democratic organisation which seeks to foster a real sense of ownership amongst the Club’s supporters. The Trust is an ever-changing entity, not constrained by the whims of individual Directors or owners.  All Trust members are equal and anyone of them can be elected or co-opted onto the Trust Board and, from there, onto the Club Board. The Trust’s annual subscription of £10 per annum makes Trust membership accessible to all. If you are not yet a member of the Trust, or if your membership has lapsed, now is a good time to join. Contact John Bignell at johnbig@btinternet.com

Trust Matters Feedback

If you have any queries about Trust Matters or if you would like us to consider adding something to the next edition, please contact Trust Matters editor, Nigel Kingston on nigel@ascom.net

Jul
31

Trust Table Set Up For Each Home Match

Once again this season, some of the Trust Directors will be present just inside the Caledonian Suite lounge bar area before each game to answer questions and to deal with Trust membership payments and queries.

Don’t forget there is also the Fans Council who will happily receive your feedback and questions on any issues which they can then take to their monthly meeting for further discussion with Club and Trust officials. Their email address is fanscouncil@wycombewandererstrust.com , Twitter is @wwfcfancouncil  and Facebook https://www.facebook.com/wwfcfans/

Jul
30

New Season = New Badges

We will welcome back Terry’s Badges to Adams Park for a sixth season on Saturday with the stall set up in the lower car park adjacent to the first programme hut and near to the away fans marquee.

Matchday badges will be on sale for this and every home game this season at just £3 each. If you want a framed collection of them all, available at the end of this season, then please place your order direct with Terry Hall.

As well as the Matchday Badges, Terry has a number of other WWFC-themed badges for sale and all profits on these (and on the Matchday badges) are donated to WW Trust to help our fundraising for the Football Club. For this season there are at least two new designs, the Promotion badges (celebrating our 2017-18 rise from League Two) and a rosette-style badge in our club colours of light and dark blue.

Thank you for your support of this initiative, which has brought useful extra cash into the club over the past five seasons.

Jul
5

IMPORTANT: Change to the Trust Community Share Scheme

I am writing to you to let you know of an important recent development regarding our Community Share Scheme.

We have been informed by HMRC that shares to be issued under the Community Share Scheme will no longer qualify for tax relief under the Enterprise Investment Scheme, or EIS.

HMRC would have been within their rights to withdraw EIS relief in respect of shares issued under the Scheme since late 2015. However, because we approached HMRC with our concerns on this matter, rather than it emerging in an HMRC audit, HMRC has confirmed that, as a concession, they will not look to withdraw relief retrospectively. This means that EIS 3 certificates issued up until 5 April 2018 will remain valid and those shareholders can continue to claim tax relief on their existing investment. 

However, we are, regrettably, no longer able to make EIS relief available for future share issues.

A considerable number of investors under our Community Share Scheme invest on a regular basis. We will be writing to them shortly, to enquire whether they wish to make any change to their current payment instructions.

Shares in the Community Share Scheme are issued quarterly; no new shares have been issued since 6 April this year, and we were due to issue the next round of shares after the end of June. Shareholders who have paid for shares in that period will therefore not yet have received their shares and, because of this change, will no longer qualify for EIS relief on their investment. We will of course be contacting those shareholders individually as soon as we can with an offer to return their monies in full if they wish.

The Trust Board was in any event due to consider the future of the Community Share Scheme as we approach the end of our initial 5-year plan, and these changed circumstances will mean that we will do so as soon as we can. Despite the Club’s recent success on the field, it remains the case that ownership of a lower league football club is a financially precarious occupation. Many other clubs have owners with deep pockets who can underwrite losses and make substantial investment with a view to improving their teams’ chances of success; to enable Wycombe Wanderers to remain competitive in the medium to long term, the Trust, as the Club’s immediate owner, needs to be able to do the same. Until further notice, therefore, the Community Share Scheme will remain open for subscription, the only difference to the initial terms being the inability for investors to claim EIS relief on new investments.

The Community Share Scheme has been one very important way in which Trust members, as the Club’s ultimate owners, have enabled us to support the Club financially in recent years. The Trust directors, and indeed the Club directors, are very grateful to those investors who have to date invested over £600,000 since the scheme was launched. We will continue to work with the Club directors to ensure that they have access to the necessary financial support to maintain the recent progress, both on and off the field, whether through initiatives such as the Community Share Scheme, the 500 Club, or any other ways of raising sustainable long-term finance.

If you have any queries as to how you may be affected by the withdrawal of EIS relief on future share issues, please contact us via our special email address shares@wycombewandererstrust.com

With best wishes – and here’s to a great season in League 1!

Trevor Stroud
Chairman
Wycombe Wanderers Supporters Group Limited

May
8

Trust Matters – 5th May 2018

The following first appeared in Saturday’s matchday programme ‘Parklife’ for the game vs Stevenage:

Meet your Trust Board: Trevor Stroud Chairman of WW Trust and WWFC

Trevor has been a Wycombe Wanderers supporter for over 20 years, and Chairman of WWT since 2010. He was originally a board member with Wycombe Wanderers Founders Trust, before the formation of the current Trust.

Trevor’s area of expertise is Sales & Marketing, and he has held a number of senior positions in both Blue Chip and smaller organisations. He now runs his own consultancy business, specialising in Sales and Marketing.

In terms of his Wycombe memories, there are many outstanding moments, including the visit to Villa Park in 2001, Jermaine Easter’s goal against Chelsea in the Carling Cup Semi Final, Dave Carroll’s goal in the 1994 play-off final at Wembley, but last Saturday’s promotion to League 1, without doubt, wins as his best Wycombe moment.

In terms of the Trust, he is determined to ensure that the links between the fans and the Club are as strong as possible, to the benefit of both sides, whilst ensuring that the best interests of WWFC are protected at all times.

Chairboys Funders Update:

Chairboys Funders (CBF), came into being in 2013 at a crucial moment for the Club and provided a loan of £450,000 repayable after 5 years’ which enabled the Club to survive.
CBF individuals loaned varying amounts over this time period at an interest rate of 8% pa, which in many cases was, by agreement, reduced to 4% at a later date. Their security was a first charge on the Adams Park ground. 
The loans were scheduled to be repaid at the start of May. Some of the CBF have decided to have their loans repaid in full. Others are taking part repayment or no repayment, with some increasing their loan and extending them for a further 2 or 5 years at 4%p interest for the longer term.
The Trust are extremely grateful to all the CBF for their superb support which initially enabled the Club to survive and now will help it to cope with the pressures of cashflow without bank loans, at a critical time in our future.

The Woodlands Lounge

Work on the Woodlands Lounge is now complete. The support and understanding shown by the Loss Adjuster means that the Club will not be left out of pocket.

Trust Directors Sponsor Luke Again

The Trust Directors have once again personally sponsored the home shirt of Luke O’Nien for next season.
The cost of this sponsorship is met by the directors themselves and not out of Trust funds.

Why the Trust Matters

Trust ownership has given the Club a level of stability that had been lacking previously. The Trust passionately believes in the preservation of the heritage and history of our Club and seeks to share it with the wider community. The Trust is a volunteer led, democratic organisation which seeks to foster a real sense of ownership amongst the Club’s supporters. The Trust is an ever-changing entity, not constrained by the whims of individual Directors or owners. 
All Trust members are equal and anyone of them can be elected or co-opted onto the Trust Board and, from there, onto the Club Board. The Trust’s annual subscription of £10 per annum makes Trust membership accessible to all.

If you are not yet a member of the Trust, or if your membership has lapsed, now is a good time to join. Contact John Bignell at johnbig@btinternet.com

Trust Matters Feedback

If you have any queries about Trust Matters or if you would like us to consider adding something to the next edition, please contact Trust Matters editor, Nigel Kingston on nigel@ascom.net