ANNUAL MEMBERS’ MEETING - The Caravan Club€¦ · The Annual Members’ Meeting ... completed an 840-mile cycle ride from Switzerland to ... 5Cs claims, along with the motor,

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ANNUAL MEMBERS’ MEETING

The Annual Members’ Meeting (AMM) of The Caravan Club will be held at 1.30pm on Saturday,27 October 2012 at The Queen Elizabeth II Conference Centre, Broad Sanctuary, Westminster,London SW1P 3EE (opposite Westminster Abbey). As stated in the Notice in the June issue of The Caravan Club Magazine, Notices of Motion and Nominations for Office or Committee hadto be received not later than Saturday, 1 September 2012, in order to comply with Bye-Law 8a.

N D J LomasDirector General

3 September 2012All Full, Joint and Family Members are entitled to attend and vote. Any Member so entitled may appoint a proxy, who need not be a member, to attend and vote in his or her place. Members are advised that proxy forms must be lodged at the registered office of The Club, using the proxy formincluded with this issue of The Caravan Club Magazine. They should not be sent to The Club offices, but to the address on the envelope provided with the form. Alternatively, Members wishing to appoint a proxy may do so online by using the facility provided on The Club’s website. Admission to the Annual Members’ Meeting will be strictly by Membership Card except in the case of non-member proxies.

A limited number of parking spaces are available at The Queen Elizabeth II Conference Centre for disabled drivers (Blue Badge). Any member wishing to take advantage of this facility should contact the Executive Secretary at The Club’s offices in East Grinstead for further details.

1. Minutes of the Annual Members’ Meeting held on 22 October 2011 (see p101-105).

2. Chairman’s Annual Report.3. Financial Report (see p108-112) presented

by the Hon Treasurer.4. Director General’s Report.5. Re-election of President for a one-year

term – Viscount Coke. Bye-Law 4a(1).6. Re-election of Vice-President for a three-year

term – Mr M K Drayton. Bye-Law 4a(2).7. Selection of Chairman – Mr G J Chamberlain*

retires, but has been nominated for re-selection for a one-year term. Bye-Law 4b(3).

8. Selection of one Vice-Chairman – Mr W RGirven* has been nominated for re-selectionfor a three-year term. Bye-Law 4b(3).

9. Selection of Hon Treasurer – Mr C J

Macgowan* has been nominated for re-selection for a one-year term. Bye-Law 4b(3).

10.Selection of two members of the ExecutiveCommittee – Mr M Groves* retires by rotation,but has been nominated for re-selection for athree-year term. Mr R H Devitt retires and Dr J P Gass* has been nominated for selectionfor a three-year term.

11.Approval of up to 20 members to serve on Club Council under Bye-Law 5(b)(4) – theExecutive Committee wishes to submit thefollowing for approval: Mr D A A Amess, MP;Mr E Baxter, Accountant; Mr J Bence,Managing Director (Retired); Mr R Blackford,Training Manager (Retired); Mr P Cahill,Electricity Industry Manager; Mr W C G Davey,Civil Servant (Retired); Dr J P Gass, University

Lecturer (Retired); Mr N S Haynes, Policeman (Retired); Professor C A HobbsCBE, Transport Safety Adviser; Mr M G Howitt,Managing Director, Manufacturing Industry; Mrs J M Leonard, PensionsAdministration (Retired); Mr T B Malcolm,Motor Industry Director (Retired); Mr T J O’Neill, Motor Industry Director(Retired); Mr R H Owen JP, AgriculturalConsultant; Mr D S Preedy, Chairman of GlassCompany; The Reverend Canon R S J Roberts,Club Chaplain; Mr B J Sharratt, Managing Director, Caravan Industry (Retired); Mr H J Wright, Solicitor.

12.Any other notified business. *See biographical notes on p102-103

AGENDA

October 2012 The Caravan Club Magazine 101

PRESENT:Mr G J Chamberlain (Chairman), LordCadman and Mr M K Drayton (Vice-Presidents), Mr W R Girven, Mr R P Lambert and Mrs J I Moore(Vice-Chairmen), Mr J D Bence (Hon Treasurer) and144 Full, Joint and Family members. Mr N D J Lomas(Director General), Mr M D Stringer (ExecutiveSecretary) and Mr J Sutton (Auditor) were in attendance.

The Chairman welcomed everyone to the meeting,especially Lord Cadman and Mr M K Drayton (Vice-Presidents) and the Honorary Life Memberspresent: Mr R G W Black MBE, Mr E O Holt and Mr J A Miller. He also passed on the apologies ofViscount Coke (President), who had recentlycompleted an 840-mile cycle ride from Switzerland tohis home at Holkham Hall in Norfolk in aid of Walkingwith the Wounded, the charity dedicated to raisingfunds for the re-education and re-training of woundedservicemen and women. Lord Wise, who wasrecovering from surgery at Musgrove Hospital,Taunton, had also passed on his sincere apologies.

Before opening the meeting, members stood andobserved a period of silence in memory of, and respectfor, Mrs Rhona Roberts and Mrs Marjorie Holt, who hadpassed away since the last Annual Members’ Meeting.

The Chairman explained the sequence of events tobe followed for the meeting and also, by means of arecorded audio briefing, the procedures to be followedin the event of an emergency.MINUTES:The Minutes of the Annual Members’Meeting held on 9 October 2010 were agreed and signed.CHAIRMAN’S ANNUAL REPORT:The Chairman gave hisAnnual Report, which was to be published in theDecember 2011 issue of The Caravan Club Magazine.His report focused upon the events of 2010, but alsodealt with aspects of the current year.

The Chairman opened by recalling the winter of2010 that had seen heavy snowfall across the country. A number of Club sites were affected and he thankedthe wardens for their hard work in keeping mostoperational. East Grinstead House was similarlyaffected and he also thanked the staff for getting in towork to ensure that The Club remained fullyoperational, not least to answer the telephone callsfrom members enquiring about the conditions at sites.In spite of the poor weather at the start of the year, the sites network still recorded an occupancy level ofalmost 2.5m outfit nights by the end of the year.Bookings for the 2011 season had opened on 8 December 2010 when there were 66,045 sitebookings made between 9am and midnight. This wasan outstanding achievement and was 19% up on therecord set in 2009. Contact Centre staff had handled10,787 bookings, Club sites staff at over 60 sites took2,950 reservations and the remaining 52,308 bookingscame via the website, which was an increase of 35% inonline bookings over the previous year.

Despite the recession, there was continuedinvestment in improvements across the network, addingextra pitches and upgrading services on a programmedbasis planned well into the future. The Club completed anumber of significant refurbishments on its sites, withmajor schemes at Park Coppice, Cirencester Park,Burford, Balbirnie Park, Cambridge Cherry Hinton,Looe and Southland. Extensions to the pitching areasresulted in 50 more pitches being made available tomembers at Looe and Southland. Two new sites wereoperational in 2010: Teesdale Barnard Castle and

Lochside at Forfar proved to be extremely popular withvisitors, with both beating occupancy expectations.

Following feedback from the initial wi-fiinstallation, a new wi-fi system roll-out began in 2010with 60 of The Club’s busiest sites equipped with asystem that offered excellent connectivity on allpitches. New cards and a new pricing structure wereintroduced and were well received by members.Buoyed by the scheme’s success, 2011 saw wi-fiinstallation on an additional 50 sites.

Phase 2 of the Genesis delivery programme tookplace with the introduction of a new overseas travelsystem in August 2010. Initially, winter bookings werehandled by a small team before being rolled out to theContact Centre staff later in the year. The new systemfacilitated the electronic booking process with a greaterchoice of ferry operators.

Membership at the end of the year stood at378,000, of which 52,000 were new members and300,000 were registered online. This allowed The Clubto provide timely, high-quality communication tomembers that complemented the excellent monthlymagazine. The Club also kept up with the trend ofonline customer research and booking. With more andmore members using the website – there was amonthly average of 750,000 website visits in thesummer of 2010 that has increased since – there was acomprehensive programme of improvements to thewebsite. This included, for example, highlighting lateavailability on sites, improved search functionality foractivities and events as part of the Great Days Outprogramme, and better presentation of Centreactivities. This was continued in 2011 withimprovements to the way members obtainedinformation about sites, overseas travel and insuranceand they were also able to make online bookings andtransactions. May 2010 also saw another successfulNational Rally at Weston Park, Shropshire with 2,400 outfits attending.

As the premier touring organisation representingover one million caravanners, motorhome and trailertent owners, The Club continued to work hard on behalfof its members as well as maintaining a high profile atindustry events and shows. The Club continued to makeimprovements to its competitions and awards schemesto help members make informed decisions when itcomes to purchasing new cars and outfits.

The Chairman went on to thank Alan Miller, an Honorary Life Member, who was retiring fromClub Council this year and who had completed 41 years of service to The Club. He had served on

the Executive, Grants, Finance & ManagementCommittees, Club Council and chaired the workinggroup that led to the formation of the Regions. Heextended The Club’s very best wishes to Alan andCath, his wife, for a very long, happy and healthyretirement. The Chairman also thanked Lembit Öpik,who had served as a parliamentary advisor to TheClub and member of Club Council.

The Executive Committee relied on the expertiseand efforts of its sub-Committees, which had all beenactive throughout 2010 with a busy programme ofmeetings and visits. The Sites sub-Committee hadvisited Teesdale Barnard Castle in June, Southland in July and Looe in September. The Events sub-Committee had met at Sledmere House andEastnor Castle. The Technical sub-Committee hadheld meetings at the NEC in February, the Universityof Bath in July and the NEC again in October. TheChairman thanked all the Committee members fortheir efforts in 2010 and 2011, adding that theircommitment to securing The Club’s progress byencouraging improvement and supporting newinitiatives was a valuable benefit to The Club.

The Club volunteers were also praised for theirwork in running the sites at Round Plantation, Slinfoldand Aberbran. Their cover was needed to sustain thesesites on the network, which delivered over 13,000good-value holiday nights for members. The Chairmanwent on to thank the army of volunteers, who workedso hard to enhance the enjoyment of Club members atRegional and Centre level and those who providedexcellent support to the site wardens.

Looking to 2011, the Chairman advised that staffhad completed the final phase of the Genesisprogramme and that all the systems were operating froma single core platform. Consequently, all The Club’sservices were now available in real time for members viathe website, such as joining or renewing Club or Centremembership, buying caravan, travel or other insurance,taking a trip overseas, booking a training course or a pitchat the National. This would position The Club stronglyfor the future, as technology continued to play an ever-increasing role in everyday lives.

Devitt Insurance Services (DIS) remained a long-term partner of The Club and acted as broker forall the insurance business. This included handling 5Cs claims, along with the motor, motor caravan andhousehold portfolios. Having been taken over byChurchill and subsequently the Royal Bank of Scotland(RBS), the three main Board Directors of Devitt hadrecently undertaken a management buyout to return

MINUTES OF THE ANNUAL MEMBERS’ MEETING OF THE CARAVAN CLUB LTD HELD AT THE QUEEN ELIZABETH IICONFERENCE CENTRE, LONDON SW1P 3EE ON 22 OCTOBER 2011 AT 1.30PM

Last year’s Annual Members’ Meeting


MINUTES continued

Devitt to its role as a truly-independent broker. FSAapproval had been secured and staff at DIS were nowfocusing on the transfer from RBS and setting up newtelephone and IT systems. The Club had beensupportive of the change, because it would allow Devittto focus more time on Club business.

The Outfit Matching Service was launched and gavemembers the opportunity to research online for theirmost suitable combinations of car and outfit – anotherservice to help members make informed purchasingdecisions. So far, more than 375,000 matching checkshad been made by members using the system. The Clubwas also a signatory to the European Road SafetyCharter and had committed to support the UN Decadeof Action for Road Safety. Providing services like outfitmatching were part of the commitment to helpmembers caravan safely and comfortably.

All of this highlighted the importance of staying intouch with members’ thoughts and views. The recentestablishment of the Member Research Panel had seen

8,000 members sign up and start feeding back theirviews on a monthly basis on a range of issues fromtechnical support to site facilities. High levels ofsatisfaction were apparent, but there were still someareas where improvements were needed and the panelwas assisting in forming the basis of future plans.

In conclusion, the Chairman was pleased to confirmthat The Club was weathering the economic downturnwell, with members continuing to use The Club and itsservices as widely as ever. The Honorary Treasurer,John Bence, was retiring later in the meeting after anincredible 26 years and the Chairman asked for hissincere gratitude to John and Jennifer, his wife, to berecorded in his report. He also thanked his colleagueson the Executive Committee for their dedication,contribution and support to ensuring that The Clubdelivered the best possible service to members. One ofthe Committee, John Turner, was recovering after atriple by-pass operation and he wished him well and aspeedy recovery. None of the objectives would beachieved without the support of the excellent staffteam, some of whom had given up their weekend to beat the AMM. Not only did the Chairman thank them,but he also asked the Director General to convey histhanks to the remainder of the staff throughout the UKfor the sterling job that they had done in 2010 and2011. He added that he should also advise them thatexpectations were even higher for 2012! The Chairmanclosed by thanking all those present for their support ofThe Club and for attending the AMM.

The Chairman’s report was adopted.

FINANCIAL REPORT:Mr J D Bence, the HonoraryTreasurer, opened by thanking the Chairman for hiskind words and introduction, adding his customary

update on the progress of Bashley FC in the Evo StickSouthern Premier League. He also offered some wordsof wisdom about the importance of sharing criticalinformation about credit and risk with fellowstakeholders in order to avoid exposure, adding also a19th-century quote from Andrew Lang about statistics.

In terms of the financial year ending 31 December2010, he said that it would be easy to conclude that the results were slightly disappointing. Income fell by £0.685m (0.7%) from £97.182m to £96.497m and the surplus after tax fell by£0.423m to £3.998m. However, looking more closely, the results were creditable in the context of the state of the economy; moreover, the overallfinancial health of The Club remained very strong. He then turned to the 2010 results.MEMBERSHIP:After 16 years of continuous and steadygrowth since the end of the last major recession,membership numbers fell slightly for the first time andwere down by 2,700 or 0.7% at 378,000. However, heexpressed pleasure that recent research showedmembers to be very satisfied with their Club.Unsurprisingly, there was some evidence thateconomic factors were causing some members to selltheir outfits, particularly if they were no longer touringenough to justify retention. Overall, membershipsubscription income increased by £96,000 to£12,811,000 and was helped by a small rise of £1 in themembership fee to £38 per annum, which was stillremarkable value for money. SITES: It was encouraging to see that demand for The Club’s sites remained strong throughout the year,although members’ resolve was severely tested by thesnow at the start and end of the year.

After accounting for the lost outfit nights due to the

CHAIRMAN (Agenda Item 7)Mr G J Chamberlain has been proposedby Mr J R Turner and seconded by Mr W H Martin. Mr Chamberlain is theGeneral Manager of Cecil InstrumentsLtd, designer and manufacturer ofhigh-quality scientific instruments. He has been a member of The Club for30 years. Mr Chamberlain served asHon Treasurer of the Mid-Anglia Centrefrom 1982-86, Centre Chairman from1986-89 and Hon Secretary from1989-93. He represented the Centre

on Club Council from 1983 untilbecoming a Nominated Member ofCouncil and was subsequently co-opted to the Executive Committeein 1993 and became Vice-Chairman in 1995, a post he relinquished uponbeing elected Club Chairman inOctober 2007. Mr Chamberlain hasalso served on the Grants Committee,Finance and Management sub-Committee and was Chairman ofthe Sites sub-Committee. With his wifeand children, he has attended many

national and local Club events and nowenjoys introducing his grandchildrento the world of caravanning.

VICE-CHAIRMAN (Agenda Item 8)Mr W R Girven OStJ QPM LIB(Hons) CCMI,has been proposed by Mr P Johnsonand seconded by Mr C J MacgowanOBE. Mr Girven is a retired PoliceOfficer, having served in Merseyside,Avon & Somerset and Dorset Forcesbeing appointed Chief Constable ofWiltshire. He was Secretary and then

Chairman of the Chief ConstablesTraffic Committee and studied trafficissues in Europe and America. He wasVisiting Professor of Police Studies atthe University of New York in 1976. Mr Girven joined The Club in 1971until the mid 1980s and then rejoinedon his retirement in 1997 and becamea Nominated Member of Club Councilin 1998. He was co-opted onto theExecutive Committee in 1998, hasserved on the Sites sub-Committeesince 1999, is Chairman of the

BIOGRAPHICAL NOTES ON MEMBERS NOMINATED FOR OFFICE AND COMMITTEE

MR G J CHAMBERLAIN MR W R GIRVEN MR C J MACGOWAN MR M GROVES DR J P GASS

John and Jennifer Bence


snow, occupancy was at the same record level as in 2009at just below 2.5m outfit nights. However, the lostoutfit nights from the snow did result in revenue fallingby £185,000 to £38,787,000 compared with 2009.After an allocation of indirect overheads, the sitesnetwork recorded a loss of £1.368m for the yearcompared to a loss of £0.513m for the previous year.Investment in maintaining the high quality of the fabricof the sites network continued, with a total of £9.7m ofcapital expenditure during the year. This expenditureincluded the completion of 17 major improvementschemes at the start of the year and the commencementof a further 17 major schemes over the 2010/11 winterperiod. Two new sites opened during 2010. An existingsite at Lochside, Forfar was purchased and opened withminimal alterations, but with the intention of carryingout a major refurbishment in due course. In August, anew site at Barnard Castle in Teesdale was opened,which has since proved especially popular withmembers. 2010 also saw the start of the developmenton another new site on the coast near Bridlington, whichopened in August 2011.INSURANCE: The Club’s 5Cs caravan insurance andother insurance products continue to be wellregarded by members, but the marked increase inprice competitiveness that had taken place over thepreceding two years continued throughout 2010.Price was a major determinant for some members,who might have forgotten the quality of The Club’sproduct and the excellent way in which claims werehandled. As a consequence, The Club had seen a 1%fall in policy numbers and a 6% fall in income over theyear to £27.511m. The reduction in policy numbershad seen the net contribution from insurance fall by£0.664m to £6.540m.

TRAVEL:The overseas travel service recovered some ofthe ground lost in 2009 arising from the first impact ofthe recession and the fall in the Euro exchange rate.Bookings were higher and the revenue increased by 7%to £14.121m; the net contribution, after overheadsimproved by £0.581m from a loss of £2.855m in 2009to a loss of £2.274m. The importance of the overseastravel service to members was recognised and The Clubwas actively examining ways in which the profitabilityof the service could be improved through efficiencymeasures and better performance, especially as theeconomy recovered.MARKETING:The main focus was to ensure efficient andeffective communication of the benefits of The Club’sproducts and services to members. The overall cost ofthese marketing activities increased by 2.2% to£4.835m. Advertising income in the magazine had heldup remarkably well, despite the economic pressures onadvertisers, increasing by £0.171m to £2.563m. Thenet cost of the magazine decreased by £93,000 to£1.629m for the year, because the cost of providing themagazine to members increased by less than advertisingincome. The magazine represented excellent value formoney. The Events Department organised a fullprogramme of activities that included the NationalRally at Weston Park in Shropshire, as well as theprestigious Towcar of the Year Competition, theDesign and Drive Awards and the Caravan Design andLightweight Leisure Trailer Awards. The net cost of allthese activities increased by £0.107m to £0.712m.BALANCE SHEET:The Club is self-funding and carries nodebt. The interest income earned on cash funds hadfallen again in 2010 by £0.422m to £0.240m, becauseof the very low market interest rates. The reduction ininterest income from £1.9m in 2008 before the

banking crisis to £0.240m in 2010 had clearly been a significant loss and a major factor in the lowerprofitability of The Club over the last two years.Despite this, the financial strength of The Clubremained very robust and had allowed the ExecutiveCommittee to take a long-term view and to continue to invest in the sites network and maintain the highstandards of service that members had come to expect.The Treasurer was also pleased to report on the goodprogress being made in recovering funds placed ondeposit with the Icelandic Bank, Kaupthing Singer &Friedlander, which had been put into administration inOctober 2008. At the time, The Club had prudentlywritten off the £2m deposit as an exceptional item. He reported that the Administrator had since returned£1.405m to The Club and that the final amount waslikely to be between £1.7m and £1.9m. At the yearend, the net worth of The Club stood at £115.8m, withfixed assets valued at £105.3m and cash investments ata healthy £26.2m. At this point, the Treasurer alsocongratulated the Divisions, Regions and Centres ontheir tremendous generosity in raising £79,600 forcharitable causes.

Looking to 2011, many of the trends identified in2010 were continuing in 2011. He was pleased to reportthat sites occupancy was ahead of 2010, but theinsurance market remained very competitive and therewas continuing weakness in the overseas travel volumes.Interest earned on investments remained verydepressed due to the prolonged period of low interestrates. Overall, The Club was making satisfactoryprogress in another difficult year and he was confidentthat The Club would weather the economic storm ingood order. It was tough for members and The Club wasworking actively to help, both directly and indirectly, by

Membership sub-Committee and waselected Vice-Chairman in 2003. Mr Girven is married and enjoyscaravanning, especially with his young grandchildren.

HON TREASURER (Agenda Item 9)Mr C J Macgowan OBE has beenproposed by Mr R P Lambert andseconded by Mr B R Gibson. Mr Macgowan is the former ChiefExecutive of both the Society of MotorManufacturers and Traders (SMMT)and the Retail Motor IndustryFederation (RMIF). He is a Freeman ofthe City of London and a Vice-Presidentof the Automotive FellowshipInternational. He is a trustee of theNational Motor Museum, a member ofthe Worshipful Company ofCoachmakers and a trustee of theautomotive industry charity BEN. He isvisiting professor at the University ofBuckingham’s Centre for AutomotiveManagement and is an externalassessor at Loughborough University.He is a member of the DfT Motorists’

Forum and the Royal Automobile ClubFoundation Public Policy committee.In 2008, he was appointed Officer toThe Most Excellent Order of the BritishEmpire (OBE) in the Queen’s BirthdayHonours List. Mr Macgowan waselected to the Executive Committee in2007, appointed Chairman of the Sitessub-Committee in January 2010 andHon Treasurer in October 2011. MrMacgowan is a keen and active motorcaravanner, with extensive experienceand knowledge of the sites network.

ELECTED MEMBER OF THE EXECUTIVECOMMITTEE (Agenda Item 10)Mr M Groves has been proposed by Mr J F Lefley and seconded by Mr J E Page. Mr Groves joined TheClub in 1977 and held office in theNorthumberland Centre as Hon RallySecretary and Vice-Chairman. In1990, he was elected CentreChairman until 1992 and representedthe Centre on Club Council. Between1987 and 1992, Mr Groves was anactive member of the Northern Centres

Joint Liaison Committee and was itsChairman from 1990 to 1992. He wasappointed to the Grants Committee inNovember 1992 and co-opted to theExecutive Committee in 1994.Following co-option to the EventsCommittee in 1995, Mr Groves wasChairman from 1997 to 2007. Alongwith his family, he has caravannedthroughout Europe and was a memberof the FICC Rally Commission from2006 to 2008. Mr Groves is MD of amechanical engineering companyspecialising in utility uervices toindustry and commerce.

ELECTED MEMBER OF THE EXECUTIVECOMMITTEE (Agenda Item 10)Dr J P Gass BA MN PhD has beenproposed by Mr R H Devitt andseconded by Mr M Groves. Dr Gassbegan his working life as a MentalHealth Nurse then moved into HigherEducation. Before retiring, he wasSenior Lecturer at the Robert GordonUniversity Aberdeen leading a teaminterested in the care of young people

and those with mental health andlearning difficulties. His interests werein health service delivery, interventionsin mental health care and the place ofthe arts and humanities in theeducation of health professionals. Now living in West Wales, he is avolunteer contributing to the runningof a community shop and post officeserving a number of local villages. Hehas been married for 35 years and inhis leisure time has spent 29 of thesecaravanning with his wife, Llinos. This has enabled them to pursue theirinterests in walking, cycling andphotography. He has been a memberof The Club for 27 years serving as Hon Secretary of the Dyfed Centre andmore recently as Hon Secretary, thenVice-Chairman of the North ScotlandCentre. He became a NominatedMember of Club Council in 2010 andwas co-opted to the ExecutiveCommittee in 2011. He was a member of the Grants sub-Committee2010-2012 and currently serves onthe Sites sub-Committee.


containing costs wherever possible. He was confidentthat his successor would be able to report The Club’sfirst £100m turnover next year, something that hewould have liked to have done this year. He was alsopleased to report that, in addition to opening what hadproved to be a very popular site at Bridlington, the go-ahead had just been received to acquire an existingsite at Strathclyde Country Park, near Glasgow. The sitewould be completely refurbished and opened in thesecond half 2012. The last phase of The Club’scomputer systems upgrade programme went live inJune 2011 and work was underway on initiatives to usethis platform to help improve products and servicesover the coming months and years. As these initiativescame to fruition, details would be published in themagazine and on the website.

Looking ahead to 2012, the outlook for the UKeconomy remained equally challenging and wouldinevitably affect members. The Executive Committeewould continue to monitor The Club’s progresscarefully and work hard to ensure that good value isdelivered to members, while at the same time keepingprice increases to the minimum, conducive with goodfinancial management. The Club’s strong financialposition should allow continued investment in the sitesnetwork and maintenance of the high standards ofservice. He emphasised that with no debt financing,The Club continued to avoid the risks associated withaccess to funds from the banks.

The Treasurer then reflected on his first report 25years previously, when he reported that turnover hadgrown by 12% to £13.9m with the surplus increasedto £1.4m and the subscription increased to £12. Atthe time, he also announced that credit cards wouldbe accepted as a means of payment from November1986. It was difficult to visualise today, as individualsand businesses, how we could have operated withoutcredit cards beforehand. At the same time, hecautioned that the 1987 results would be impactedunfavourably by new and considerable investments inimproved computer facilities. This served as reminderthat what goes around, comes around! He said he wasprivileged to have served The Club during a period ofoutstanding growth, achieved during both good andbad times. It was strong, because of the very nature ofthose who made up the membership and the pastimeit served. It was strong because of all those whovolunteered to serve on committees across The Cluband because of the dynamic leadership of theChairman. Mr Bence felt privileged to have servedthree: Ken Dolton, Bob Black and GrenvilleChamberlain. The Club was strong because of thequality and dedication of the staff, led by the DirectorGeneral and he had worked with four: DonaldChidson, John Chapman, Trevor Watson and NickLomas. He was also pleased to have worked with theFinance & Management team led over the years byHarold Griffin, Ray Farley, Malcolm Ryan, RussellHudson and Jon Laws. Mr Bence treasured thefriendships he had made and thanked all for theopportunity to serve The Club.

In response to the Treasurer’s report, Mr Drayton,Vice-President, while acknowledging the economicsituation, asked about the measures to rectify the lossincurred by the travel service. In response, Mr Lomas,Director General, advised that The Club had noappetite for a loss of that size and was carrying out astrategic review of its travel offering and the

marketplace. A telephone service would not beprovided for all transactions; for example, ferry-onlybookings would move to web-only bookings. However,The Club recognised the importance of offering theappropriate levels of service to its members.

There being no other questions, the Treasurer’sreport was adopted.

DIRECTOR GENERAL’S REPORT:Mr Lomas opened hisreport by noting that 2010 marked the 50thanniversary of the 1960 Caravan Sites and Control ofDevelopment Act. The Act was the legislation thatgranted The Club its exempted status and allowed it tooccupy land for sites and rallies. It also gave The Clubthe ability to grant certificates for CLs so that fivecaravans could use the land for recreationalcaravanning. The Act continued to serve The Club welland enabled it to carry on with those activities thatwere at the very heart of what The Caravan Club isabout. Most importantly, it provided the necessarychecks and balances to ensure that those who rally, didso responsibly. To that end, The Club worked closelywith Natural England, the Scottish Executive and theNational Assembly for Wales to ensure full compliancewith the requirements of being a responsible exemptedorganisation under the Act. At the annualParliamentary Reception at Westminster in February2010, where the CL of the Year Awards are presented,the then Secretary of State for Communities and LocalGovernment, John Denham, remarked that The Clubhad used an imaginary five-van site at Ambridge in TheArchers to promote the CL idea. Fifty years on, theClub has almost 2,600 CLs.

The Club’s overriding priority is to be a responsibleand considerate user of the countryside. This wasdemonstrated in July 2011 by the decision to cancel theplanned Olympics/Paralympics temporary site atChigwell and to halt plans for temporary sites close tothe Olympics sailing events at Weymouth followingobjections from planners and residents. The Club prideditself on being a considerate neighbour and a force forgood in the communities where it operated. The latestmember research showed that Club members spentsome £400m annually in local businesses, such as shops,pubs, restaurants and visitor attractions whencaravanning. He was also pleased to report that analternative temporary site had been secured for summer2012 at Barleylands, near Billericay in Essex.

He thanked the volunteers, who ran the temporarysite at the NEC and who worked hard to organise suchcomprehensive programmes of rallies and events formembers. The Club was supporting them in theirendeavours by having introduced an excellent ‘What’sOn’ element of The Club website that enabledmembers to search through the information providedby the Centre volunteers on rallies and events, and byany combination of date or location. It was hoped thiswould encourage more members to register with theirlocal Centres and take part in the incredible variety ofdifferent and good-value events on offer.

He remarked that the Chairman and the Treasurerhad commented on the unpredictable performance ofThe Club’s overseas travel service. In 2009, businessfell as the poor exchange rate and the economicuncertainty hit. In 2010 and 2011, there had been arecovery, but hard work was needed to sustain it. Hewas surprised that members had a perception that, forexample, by dealing directly with a ferry company they

believed they would be able to get a better deal. TheClub worked hard on behalf of its members to get thebest deals; moreover, the new online ferry price searchallowed a comparison of the prices and sailing times offerry operators for a particular date on a given route. He urged members to use the service, because theywould get the best prices and also the backing of theirClub. While on the subject of the backing of The Club,he added that the overseas travel protection, RedPennant, provided high-quality travel insurance fortourers like no other. It gave members tremendouspeace of mind and was much better than a basicbreakdown or recovery service as demonstrated by theletters of compliments and thanks he received praisingthe Red Pennant product. The team of multilingualstaff at East Grinstead, who provided the back-up tomembers, were doing a great job of resolving members’problems when things go wrong, thus enabling them tocontinue enjoying their holiday.

The British tourism industry remained in good shapeand Visit Britain was reporting strong numbers ofoverseas visitors to Britain. The strong occupancy on The Club’s sites network throughout the recession wasfurther testament to that. However, for the caravan andmotor caravan manufacturers and dealers, times weresomewhat tougher. Sales of new outfits had declinedover the past few years and the industry was lookingclosely at how it could work better to promotecaravanning and keep costs down. The Club had beenvery closely involved with the manufacturers and theirtrade body, the National Caravan Council (NCC).Everyone was becoming increasingly concerned aboutthe costs of attending the major caravanning shows,particularly at the NEC. The manufacturers’ responsewas to establish its own exhibition company to runevents cooperatively for the caravan market. The Clubhad backed the initiative and the previous week had seenNCC Events running, for the first time, a successfulMotorhome and Caravan Show at the NEC. The ClubDay members’ ticket price was the lowest of all availableat just £5 (£4.50 for seniors), when in 2010 the standardon-the-door ticket price was £20. He was delighted thatthis had resulted in record visitor numbers and it bodedwell for sustaining caravanning at the heart of UKtourism. The Club was returning to the Manchestershow in January 2012, which would be in a new locationat Trafford Park, and was also attending the new NCCEvents show in February 2012 at London’s ExCeL,which promised to be a great day out. All of the eventswould have special ticket prices for members.

As part of its strategy work, The Club had beenreviewing the charging and booking policies for Clubsites to ensure that as many members as possible couldenjoy the network. Steps taken by The Club over thepast year, such as the requirement for members to give72 hours’ notice of cancelling a booking and theintroduction of email booking reminders, had seen latecancellations reduce by over 20%. Following extensiveresearch, member feedback and a complete review ofoptions, the Executive Committee had agreed that,from next season, members who cancelled inside 72 hours or failed to turn up for a booking three timesduring the year, would forfeit their ability to book for14 days; furthermore, any forward bookings would alsobe cancelled. In addition, if a member decided to leavesite earlier than originally planned, they would berequired to give a minimum of 72 hours’ notice to thewardens. Notice given for an early departure less than

MINUTES continued

72 hours in advance would result in a charge theequivalent of one night’s stay. The purpose of the newrules was to encourage considerate behaviour and givesufficient advance notice to allow The Club to makethe pitch available to another member. The resultswould be monitored carefully.

Looking at touring patterns, it was clear thatmembers were economising on fuel, making shorterjourneys and staying at one site longer than previously.Members were experiencing a lot of rising costs in thecurrent economy and The Club would do its best tokeep site prices in check. Most prices for childrenwould be frozen and there would be a ‘kids for a penny’offer on certain sites and dates. The number of sitesoffering a midweek discount for stays over Monday toThursday would increase, and there would be acontinuation of the flat rate charge on five sites nextyear, called ‘Only 11’ for the pitch, two adults and allchildren whatever the season. The Club was alsoworking hard to bear down on costs while improvingservices; the ticket prices to shows and the sites offersare examples of where The Club was delivering formembers’ benefit.

Mr Lomas concluded by introducing LawrenceBate, the new Director of Marketing since November2010, and Neil Windeatt, the new Head of SitesOperations since August 2011.

The Director General’s report was adopted.

RE-ELECTION OF PRESIDENT:The Right HonourableViscount Coke was re-elected President, for a furtheryear, by acclaim.RE-ELECTION OF VICE-PRESIDENT:The RightHonourable Lord Cadman was re-elected Vice-President, for a three-year period, by acclaim. SELECTION OF CHAIRMAN:Mr G J Chamberlain was,without dissent, re-selected to be the Chairman.SELECTION OF VICE-CHAIRMAN:Mrs J I Moore was re-selected, without dissent, to be a Vice-Chairman fora three-year period. SELECTION OF HONORARY TREASURER:The Chairmanopened this item by remarking that it was the end of anextraordinary era. Mr John Bence, the HonoraryTreasurer, was about to retire after an incredible 26years fulfilling one of the most demanding roles in TheClub. He took those present back to 19 October 1985when the Annual Members’ Meeting was at the RoyalCommonwealth Society. Ken Dolton was The ClubChairman, John Chapman the Director General andFrank Hartland was retiring as Treasurer. In a tribute toFrank Hartland, Ken Dolton commented that FrankHartland had seen growth in the turnover of The Clubfrom £2m to £13m during his period in office, whichstarted in 1974. The Club had moved on over the past26 years during John Bence’s time, with 2011 likely tosee turnover exceeding £100m for the first time and abalance sheet that was the envy of other similarorganisations. Those 26 years had seen the completeoverhaul of The Club’s reporting systems and capitalexpenditure authorisation procedures to ensure thatthe business management of The Club was fit forpurpose in today’s fast-moving and challenging times.Moreover, The Club was ready and able to takeopportunities or acquire viable assets which mightbecome available. The capital expenditure procedureswere extremely robust and ensured that the assetsacquired or developed were financially sound. A greatdeal of consideration was given to every project and the

Chairman still carried the scars from John Bence’sscrutiny as Treasurer, when he, the Chairman, hadchaired the Sites sub-Committee. During the past 26 years, The Club had approved and spent anincredible £209m for the benefit of members.

Back in 1985, membership stood at 262,000, sitesincome was £4.3m, there were 57,000 insurancepolicies and 23,000 members and their familiestravelled to continental Europe. At the end of 2010,membership stood at 378,000, sites income alone was£38m, nearly treble the total turnover in 1985, theinsurance portfolio extended to 130,000 policies andsome 60,000 families went abroad. The scale oftransformation had been truly remarkable.

The management systems and controls to managesuch growth had to be designed, developed andimplemented. John Bence had scrutinised,commented, sometimes vigorously, and supportedstaff at every step of the way. His business experience,dedication and determination to see The Club succeedhad put it where it was today and he thanked JohnBence and Jennifer, his wife who was always at his side,on behalf of all the members for John’s tremendouscontribution to The Club. Aside from his businessskills, John Bence was a great friend to everyone andhad given a huge amount of encouragement, guidanceand support at every level within The Club. He andJennifer were owed a deep debt of gratitude. MrsChamberlain then presented Jennifer Bence with abouquet of flowers as thanks for the wonderful supportshe had given John during his time in office.

John Bence had first joined Club Council 32 yearsago, when he had written to Donald Chidson on 2 August 1979 expressing hope that he could make aworthwhile contribution. That had been followed by32 years of absolute commitment to The CaravanClub. His time as Club Treasurer would probably standas a record and never be seen again. The highestaccolade that The Caravan Club could bestow on anymember was that of Honorary Life Membership,which was granted to the select few who had givenservice beyond that which might be reasonablyexpected. On behalf of The Club, the Chairman thenbestowed Honorary Life Membership upon JohnBence and hoped that he and Jennifer would havemany years of enjoyment ahead.

Following the valedictory and presentation ofHonorary Life Membership and a crystal memento, Mr Bence retired from his position as HonoraryTreasurer. Mr C J Macgowan was then selected,without dissent, to be the Honorary Treasurer.SELECTION OF THREE MEMBERS OF THE EXECUTIVECOMMITTEE: Mr B R Gibson and Mr J F Lefley werere-selected, without dissent, to be members of the

Executive Committee, each for a three-year period. Mr J R Turner was selected, without dissent,to be a member of the Executive Committee, for atwo-year period. NOMINATED MEMBERS OF THE CLUB COUNCIL:Themeeting appointed the following to serve on the ClubCouncil under Bye-Law 5.b.(4): Mr D A Amess MP,Mr E Baxter, Mr R G W Black MBE, Mr P Cahill, Mr W C G Davey, Dr J P Gass, Mr N S Haynes, Mr M G Hinder, Prof A Hobbs CBE, Mr E O Holt, Mr M G Howitt, Mr T J O’Neill, Mr H Owen JP, Mr D S Preedy, The Rev Canon R S J Roberts and Mr H J Wright.OTHER COMMENTS:Mr L Öpik, who was standingdown as a Nominated Member of The Club Council,thanked the members for their friendship andsupport. He added that it had been a privilege to serveon the Council and to have assisted The Club in itsendeavours. Mr R G W Black, Honorary LifeMember, commented that he was pleased to learn ofthe new Club site that would be opening atStrathclyde Country Park in the second half of 2012.He asked about The Club’s policy towards the use oflocal contractors and for an assurance that a Scottishcontractor would be asked to tender. Mr A Barnett,Head of Estates, responded that The Club wasmindful of costs, and looked for good contractors whocould be trusted and who offered the appropriatequality and service. The project was already out totender, but he confirmed that a local contractor hadbeen invited to tender. Mrs Shaw, Treasurer of theEast Warwickshire Centre, asked whether hercomments at last year’s AMM had been addressed interms of a more realistic price being set for theNational to encourage better attendance by youngfamilies. In response, Mr R P Lambert, Club Vice-Chairman and Chairman of the Events sub-Committee, said that it had been, but perhaps not to the extent that Mrs Shaw would have wanted.The price for the National would be 75p cheaper than last year, but would also include moreentertainment in the rally fee price. Mrs Shaw then went on to ask whether there could beconsideration to increasing the grant to Centresbecause of rising costs, such as postage. The Chairmanasked Mrs Shaw to discuss the matter further withMrs J I Moore, Vice-Chairman and Chairman of theGrants sub-Committee, after the meeting.

There being no further questions or commentsfrom the floor, the Chairman thanked the Vice-Presidents and the Honorary Life Members fortheir support and attendance. He thanked theorganising staff, the microphone and registration ladiesand closed the meeting at 2.45pm.


Director General Nick Lomas

Former Treasurer John Bence

REPORT OF THE EXECUTIVE COMMITTEEYEAR ENDED 31 DECEMBER 2011

The Executive Committee of The Club (whichcomprises the Board of Directors of thecompany) submits its annual report andfinancial statements for the year ended 31 December 2011.

ACTIVITIES AND BUSINESS REVIEWThe Caravan Club is contained within The Caravan Club Limited, a companylimited by guarantee with a share capital of£100 which is held in trust for the benefit of Club members.

The Caravan Club maintains and conducts aclub for persons who are mobile caravannersand promotes caravanning generally. Therehas been no significant change in theseactivities during the year.

The Club has continued to progresssatisfactorily during the year. Income fromsubscriptions, products and services tomembers has increased by 4.8% to £101.1m(2010: decreased by 0.7% to £96.5m). The Executive Committee is confident thatThe Club will continue to progress, improvingthe service offered to members.

RESULTS FOR THE YEAR: The surplus for the year amounts to £6,612,000 (2010:£3,998,000) which is added to the revenuesurplus brought forward of £24,896,000and the Regions, Divisions and Centresreserves of £935,000, and is decreased bythe actuarial loss of £2,146,000 (2010gain: £2,565,000) and increased by thesurplus from Regions, Divisions and Centresof £58,000 (2010 deficit: £45,000) toleave £30,355,000 available for allocationto revenue reserves (2010: £25,831,000).

£6,000,000 has been transferred to the sites investment reserve with theremaining surplus, including the actuarialloss of £2,146,000 being retained in therevenue account.

FINANCIAL INSTRUMENTS: The Club’sprincipal financial instruments consist offinancial assets and liabilities such as cash,trade creditors and other debtors. Thesearise directly from its operations.

Liquidity risk – The Club manages its cashand term deposit balances to maximiseinterest income while maintainingsufficient liquid resources to meet theoperating needs of The Club.

Interest rate risk –The Club makes use offixed rate term deposits to minimise short tomedium term cashflow interest rate risk.

Credit risk – Investments of cash surpluses

are made through reputable banks andbuilding societies with suitably high creditratings. Receivables are monitored on anongoing basis and provision is made fordoubtful debts where necessary.

Foreign currency risk – The principal foreigncurrency exposure arises from foreigncurrency cash balances and overseasoperations.

EXECUTIVE COMMITTEE: The members of the Executive Committee who held officeduring the year and at 31 December 2011were: G J Chamberlain (Chairman); C J Macgowan (Hon Treasurer); J D Bence(retired 22/10/2011); E Baxter (appointed22/10/2011); R H Devitt; Dr J P Gass(appointed 22/10/2011); B R Gibson; W R Girven; M Groves; P Johnson; R N P Lambert; J F Lefley; W H Martin; J I Moore; J E Page; J R Turner.

The following members are retiring at theforthcoming Annual Members’ Meeting:G J Chamberlain – ChairmanW R Girven – Vice-ChairmanC J Macgowan –Hon TreasurerR H Devitt – Elected MemberM Groves – Elected Member

CHARITABLE DONATIONS:During the year the company made charitable donations of£10,835 (2010: £8,470).

FIXED ASSETS: Properties occupied as Clubsites are stated at historical cost. As theiruse is restricted to use as caravan sites theExecutive Committee consider that nouseful purpose would be served by havingthem valued.

EMPLOYMENT OF DISABLED PERSONS: TheClub gives full and fair consideration toapplications for employment made bydisabled persons having regard to theirparticular aptitudes and abilities. Wherepossible, The Club continues theemployment of and arranges appropriatetraining for employees who have becomedisabled during the period they areemployed. Disabled persons are treated inthe same way as other employees whentraining, career development and promotionare being considered.

EMPLOYEE INVOLVEMENT: Employees areencouraged to discuss with managementany matters about which they areconcerned and factors affecting The Club.In addition, the Executive Committee takesaccount of employees’ interests whenmaking decisions and the employees areinformed of The Club’s performance on aregular basis. Suggestions from employeesaimed at improving The Club’sperformance are welcomed.

STATEMENT AS TO DISCLOSURE OFINFORMATION TO AUDITORS: So far as eachof the directors is aware, there is norelevant audit information of which thecompany’s auditors are unaware, and theyhave all taken steps that they ought to havetaken as directors in order to makethemselves aware of any relevant auditinformation and have established that thecompany’s auditors are aware of thatinformation.

By order of the Executive CommitteeN D J Lomas, Company Secretary25 June 2012


The 2011 National at Sledmere House

STATEMENT OF RESPONSIBILITIES OF THEMEMBERS OF THE EXECUTIVE COMMITTEE:The directors are responsible for preparingthe Report of the Executive Committee andthe financial statements in accordance withapplicable law and regulations. Company lawrequires the directors to prepare financialstatements for each financial year. Underthat law, the directors have elected to preparethe financial statements in accordance withUnited Kingdom Generally AcceptedAccounting Practice (United KingdomAccounting Standards and applicable law).Under company law, the directors must notapprove the financial statements unless theyare satisfied that they give a true and fairview of the state of affairs of the companyand of the profit or loss of the company forthat period. In preparing these financialstatements, the directors are required to:• select suitable accounting policies and

apply them consistently;• make judgements and accounting

estimates that are reasonable andprudent;

• state whether applicable UK AccountingStandards have been followed, subject toany material departures disclosed andexplained in the financial statements; and

• prepare the financial statements on thegoing concern basis unless it isinappropriate to presume that thecompany will continue in business.

The directors are responsible for keepingadequate accounting records that aresufficient to show and explain the company’stransactions and disclose with reasonableaccuracy at any time the financial position ofthe company and enable them to ensure thatthe financial statements comply with theCompanies Act 2006. They are alsoresponsible for safeguarding the assets ofthe company and hence for takingreasonable steps for the prevention anddetection of fraud and other irregularities.

INDEPENDENT AUDITOR’S REPORT TO THEMEMBERS OF THE CARAVAN CLUB LIMITED:We have audited the financial statements ofThe Caravan Club Limited for the year ended31 December 2011. The financial reportingframework that has been applied in theirpreparation is applicable law and UnitedKingdom Accounting Standards (UnitedKingdom Generally Accepted AccountingPractice).

This report is made solely to the company’smembers, as a body, in accordance withChapter 3 of Part 16 of the Companies Act2006. Our audit work has been undertakenso that we might state to the company’smembers those matters we are required tostate to them in an auditor’s report and for

no other purpose. To the fullest extentpermitted by law, we do not accept orassume responsibility to anyone other thanthe company and the company’s membersas a body, for our audit work, for this report,or for the opinions we have formed.

RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORS:As explained more fully in the Statement ofResponsibilities of the Members of theExecutive Committee, the directors areresponsible for the preparation of thefinancial statements and for being satisfiedthat they give a true and fair view. Ourresponsibility is to audit and express anopinion on the financial statements inaccordance with applicable law andInternational Standards on Auditing (UK and Ireland). Those standards require us tocomply with the Auditing Practices Board’s(APB’s) Ethical Standards for Auditors.

SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS:An audit involves obtaining evidence aboutthe amounts and disclosures in the financialstatements sufficient to give reasonableassurance that the financial statements arefree from material misstatement, whethercaused by fraud or error. This includes anassessment of: whether the accountingpolicies are appropriate to the company’scircumstances and have been consistentlyapplied and adequately disclosed; thereasonableness of significant accountingestimates made by the directors; and theoverall presentation of the financialstatements. In addition, we read all thefinancial and non-financial information inthe Report of the Executive Committee toidentify material inconsistencies with theaudited financial statements. If we becomeaware of any apparent materialmisstatements or inconsistencies weconsider the implications for our report.

OPINION ON THE FINANCIAL STATEMENTS:In our opinion, the financial statements:• give a true and fair view of the state of

the company’s affairs as at 31 December2011 and of its surplus for the year then ended;

• have been properly prepared inaccordance with United KingdomGenerally Accepted AccountingPractice; and

• have been prepared in accordance with the requirements of the CompaniesAct 2006.

OPINION ON OTHER MATTER PRESCRIBED BYTHE COMPANIES ACT 2006:In our opinion, the information given in theReport of the Executive Committee for thefinancial year for which the financialstatements are prepared is consistent withthe financial statements.

MATTERS ON WHICH WE ARE REQUIRED TOREPORT BY EXCEPTION:We have nothing to report in respect of thefollowing matters where the Companies Act2006 requires us to report to you if, in ouropinion:• adequate accounting records have not

been kept, or returns adequate for ouraudit have not been received frombranches not visited by us; or

• the financial statements are not inagreement with the accounting recordsand returns; or

• certain disclosures of directors’remuneration specified by law are notmade; or

• we have not received all the informationand explanations we require for our audit.

Jonathan Sutton (Senior Statutory Auditor)For and on behalf of Dixon Wilson, Statutory Auditor22 Chancery Lane, London WC2A 1LS10 July 2012

CLUB SITES

CERTIFICATED LOCATIONS

INSURANCE

TRAVEL SERVICE

RED PENNANT

CLUB MAGAZINE

SITES DIRECTORY

TOWCAR OFTHE YEAR

THE NATIONAL

CARAVAN EUROPE


2012 Towcar of the Year winners

REVENUE ACCOUNT BALANCE SHEET at 31 December 2011


2011 2010 Note £000 £000

INCOME 101,054 96,497Operating expenses (64,965) (64,685)

GROSS SURPLUS 36,089 31,812Administrative expenses (29,289) (27,923)

OPERATING SURPLUS 6,800 3,889Exceptional item 3 222 513Interest receivable and similar income 210 240Other finance cost (90) (297)

SURPLUS ON ORDINARY ACTIVITIESBEFORE TAXATION 2 7,142 4,345Tax on surplus on ordinary activities 6 (530) (347)

SURPLUS FOR THE FINANCIAL YEAR AFTER TAXATION 6,612 3,998

All amounts relate to continuing operations.

2011 2010 £000 £000

Surplus for the financial year 6,612 3,998Actuarial (loss)/gain on retirement benefit scheme’s assets and liabilities (2,146) 2,565Surplus/(deficit) from Regions, Divisions and Centres 58 (45)

TOTAL RECOGNISED GAINS AND LOSSES RELATING TO THE YEAR 4,524 6,518

2011 2010 Note £000 £000

FIXED ASSETSTangible fixed assets 7 104,395 105,349

CURRENT ASSETSStock 9 266 405Debtors 10 5,282 4,856Short term deposits 17,120 23,619Cash at bank and in hand 17,469 2,613

40,137 31,493

Creditors: amounts falling due within one year 11 (15,237) (13,153)Net current assets 24,900 18,340

Total assets less current liabilities 129,295 123,689

Provisions for liabilities 17 (8,922) (7,840)

Net assets 120,373 115,849

CAPITAL AND RESERVESShare capital and premium account 14 18 18Site investment reserve 14 96,000 90,000Revenue account 14 24,355 25,831

120,373 115,849

The financial statements were approved by the Executive Committee on 25 June 2012 and signed on its behalf by:G J Chamberlain and C J Macgowan

2011 2010 Note £000 £000

RECONCILIATION OF OPERATING SURPLUS TO NET CASH FLOW FROM OPERATING ACTIVITIESOperating surplus 6,800 3,889Depreciation 9,267 8,859Loss on disposal of tangible fixed assets – 13Decrease/(increase) in stock 139 (66)(Increase)/decrease in debtors (446) 1,062Increase/(decrease) in creditors 2,120 (3,840)Exceptional income 222 513Surplus/(deficit) from Regions, Divisions and Centres 58 (45)Difference between defined benefit pension charge and cash contributions (1,154) (906)

Net cash inflow from operating activities 17,006 9,479

RETURNS ON INVESTMENTS AND SERVICING OF FINANCEInterest received 230 240

TAXATIONUK corporation tax paid (565) (820)

CAPITAL EXPENDITURE AND FINANCIAL INVESTMENTPurchase of tangible fixed assets (8,314) (12,640)Sale of tangible fixed assets – 96

Net cash outflow from capital expenditure (8,314) (12,544)

Net cash inflow/(outflow) before financing 8,357 (3,645)

MANAGEMENT OF LIQUID RESOURCESCash taken off short term deposit (net) 6,499 4,543

Increase in cash 14,856 898

RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBTIncrease in cash 14,856 898Cash taken off short term deposit (net) (6,499) (4,543)

Change in funds 18 8,357 (3,645)Net funds at 1 January 18 26,232 29,877

Net funds at 31 December 18 34,589 26,232

CASH FLOW STATEMENT

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES

NOTES TO THE FINANCIAL STATEMENTS

CLUB SITES


INSURANCE

TRAVEL SERVICE

RED PENNANT

CLUB MAGAZINE

SITES DIRECTORY

TOWCAR OFTHE YEAR

THE NATIONAL

CARAVAN EUROPE


1 ACCOUNTING POLICIESBasis of preparationThe financial statements have been prepared under the historical cost conventionand in accordance with applicable accounting standards.

Regions, Divisions and CentresThe assets and liabilities of the Regions, Divisions and Centres are included in thebalance sheet.

Tangible fixed assetsTangible fixed assets are stated at cost and depreciated at rates calculated to write offthe cost less estimated residual value over their expected useful lives as follows:Asset clas Depreciation method and rateFreehold premises 5% on costLeasehold premises over the life of the leaseLeasehold sites shorter of 20 years on cost, remaining life of

the lease or useful economic life of the assetFixtures, fittings and equipment 10%-33.3% on costMotor cars 30% reducing balanceNo depreciation is provided on freehold land.

StockStock is stated at the lower of cost and net realisable value after making dueallowance for obsolete and slow moving items. Cost includes all direct costs. Netrealisable value is based on estimated selling price less further costs expected tobe incurred to disposal.

Income recognitionWhere sites, travel, insurance, magazine and events income is received in advance, itis deferred and recognised in the year in which the service is provided. Subscriptionsare recognised evenly over the period to which the subscription relates.

Lease commitmentsCosts in respect of operating lease agreements (being agreements not giving rightsapproximating to ownership) are spread evenly over the lease terms.

TaxationCorporation tax payable is provided on The Club’s taxable surplus at the current rate.No provision is made in the accounts for deferred taxation because there are nomaterial deferred tax liabilities. Timing differences arising from the application of FRS17 are not material as the pension cost relates almost entirely to mutual income.

Pension schemesThe Club operates a defined benefit pension scheme which was closed to new entrantsfrom 1 January 2006 and a defined contribution pension scheme for new employeesjoining after the defined benefit pension closed to new entrants.

Contributions in respect of the company’s defined contribution pension schemeare charged to the profit and loss account in the year in which they are payable tothe scheme.

The defined benefit pension scheme liabilities are measured using a projected unitmethod. The pension scheme assets are valued at market value. Any pension schemedeficit is recognised in full on the balance sheet. Any pension scheme surplus isrecognised to the extent that it is recoverable.

Foreign currencyMonetary assets and liabilities denominated in foreign currencies are translated at therate of exchange ruling at the balance sheet date. Transactions in foreign currenciesare recorded at the rate ruling at the date of the transaction. All differences are takento the revenue account.

GrantsGrants made to The Club as a contribution towards expenditure on fixed assets aretaken to deferred income and amortised to the revenue account over the expecteduseful lives of the related assets.

Financial instrumentsFinancial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.

2 SURPLUS ON ORDINARY ACTIVITIES BEFORE TAXATION 2011 2010 £000 £000

This is stated after charging:Operating leases – plant and machinery 73 72

Operating leases – other assets 380 502

Loss on disposal of tangible fixed assets – 13

Depreciation of tangible fixed assets 9,267 8,859

Auditor’s remuneration– fees payable to the company’s auditors for the

audit of the company’s accounts 50 50– taxation and other services 64 60– fees in respect of the audit of The Caravan Club

Limited Retirement Benefit Scheme 13 13

3 EXCEPTIONAL ITEM 2011 2010 £000 £000

Exceptional item 222 513

The exceptional item represents funds placed with Kaupthing Singer & FriedlanderLimited, a company which went into administration in October 2008. The JointAdministrators have made two payments to unsecured creditors during 2011representing 10 pence in the £ of the debts outstanding. On 2 May 2012, a furtherpayment of 10 pence in the £ was made which brings the current recovery to 73 pencein the £. In the latest six monthly report to creditors, released on 26 April 2012, theJoint Administrators of Kaupthing Singer & Friedlander Limited have provided anestimate of the final outcome as being between 81 and 86 pence in the £, but theyhave been unable to indicate the likely timing of any further repayments beyond whathas already been announced. In light of the uncertainty that still remains over theamounts and timing of recovery of the funds as highlighted by the Joint Administratorsin their latest report, the Executive Committee has determined to only recognise anyfuture return of funds when actually received.

4 STAFF The average number of persons employed by The Club during the year, analysedby category was as follows: 2011 2010 Number Number

Membership services 158 137Marketing 30 34Central services 81 87Site wardens 422 409

691 667

The aggregate payroll costs were as follows: 2011 2010 £000 £000

Wages and salaries 16,017 15,013Social security costs 1,759 1,491Other pensions costs 2,280 2,503

20,056 19,007

The Club’s Broomfield Farm site

NOTES TO THE FINANCIAL STATEMENTS continued


5 EXECUTIVE COMMITTEEThe members of the Executive Committee do not receive any remuneration for their services to the company or The Club.

6 TAXATIONTax on profit on ordinary activities

2011 2010 £000 £000

Current taxCorporation tax charge 670 709Adjustments in respect of previous periods (140) (362)

UK Corporation tax 530 347

6 TAXATION CONTINUEDFactors affecting current tax charge for the yearThe club is exempt from corporation tax on surpluses arising from services to itsmembers which are mutual activities. Investment and other income is taxable.The difference between the current tax charge and the charge at 26.5%compounded (2010 - 28%) on the surplus on ordinary activities before taxation is explained below: 2011 2010 £ 000 £ 000

Surplus on ordinary activities before taxation 7,142 4,345

Corporation tax at standard rate 1,893 1,217Pension credits and contributions (306) (254)Mutual and other income which is not taxable (917) (254)Adjustments to tax charge in respect of previous periods (140) (362)

Total current tax 530 347

Fixtures Freehold Freehold Leasehold Leasehold fittings and land premises premises sites equipment Total £000 £000 £000 £000 £000 £000

CostAt 1 January 2011 18,977 87,372 1,203 67,674 22,134 197,360Transfers in the year – 1 95 (97) 1 –Additions in the year – 3,097 16 4,342 859 8,314Disposals in the year – – – – (42) (42)

At 31 December 2011 18,977 90,470 1,314 71,919 22,952 205,632

DepreciationAt 1 January 2011 – 41,845 674 39,557 9,935 92,011Charge for the year – 3,617 121 2,804 2,725 9,267 Eliminated on disposals – – – – (41) (41)Transfer – 1 97 (98) – –

At 31 December 2011 – 45,463 892 42,263 12,619 101,237

Net book valueAt 31 December 2011 18,977 45,007 422 29,656 10,333 104,395

At 31 December 2010 18,977 45,527 529 28,117 12,199 105,349

Included in the net book value of leasehold sites is an amount of £6,957,000 (2010: £7,344,000) in respect of leases with more than 50 years to run. The cost of these sites is £15,618,000 (2010: £15,460,000). All of the leasehold premises are short leaseholds with less than 50 years to run.

7 TANGIBLE FIXED ASSETS

8 FIXED ASSET INVESTMENT £000

Cost and book value

At 1 January 2011 and 31 December 2011 –

% of ordinary Principal shares held activityThe Caravan Club of Great Britain and Ireland (1935) Limited 100% DormantTouring Club of Great Britain and Ireland Limited 100% DormantTouring Club of Europe Limited 100% Dormant 9 STOCK 2011 2010 £000 £000

Stock 266 405

10 DEBTORS 2011 2010 £000 £000

Other debtors 107 38Prepayments and accrued income 5,175 4,818

5,282 4,856

11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2011 2010 £000 £000

Corporation tax 4 39Other taxes and social security 523 534Other creditors 1,068 203Accruals and deferred income 13,642 12,377

15,237 13,153

Included within accruals and deferred income is a balance of £5,415,000 (2010: £5,242,000) relating to subscriptions taken in advance.

12 SHARE CAPITALThe authorised, allotted and fully paid share capital, which has remainedunchanged throughout the year, is 100 shares of £1 each.

13 ULTIMATE CONTROLLING PARTYThe Caravan Club Limited is a company limited by guarantee. The Club’s sharecapital is held in trust for the benefit of Club members, who are the ultimatecontrolling party.

CLUB SITES


INSURANCE

TRAVEL SERVICE

RED PENNANT

CLUB MAGAZINE

SITES DIRECTORY

TOWCAR OFTHE YEAR

THE NATIONAL

CARAVAN EUROPE


14 RESERVES Share Sites premium investment Revenue account reserve account Total £000 £000 £000 £000

At 1 January 2011 18 90,000 25,831 115,849Surplus for the year – – 6,612 6,612Transfer from revenue account to sites investment reserve – 6,000 (6,000) –Actuarial loss on pension schemes – – (2,146) (2,146)Other: Regions, Divisions and Centres – – 58 58

At 31 December 2011 18 96,000 24,355 120,373

15 RECONCILIATION OF MOVEMENT IN SHAREHOLDERS' FUNDS 2011 2010 £000 £000

Surplus for the year after taxation 6,612 3,998Other recognised gains and losses relating to the year (2,146) 2,565Surplus/(deficit) from Regions, Divisions and Centres 58 (45)

Net addition to shareholders’ funds 4,524 6,518

Capital and reserves at 1 January 115,849 109,331

Capital and reserves at 31 December 120,373 115,849

16 COMMITMENTSCapitalAmounts contracted for but not provided in the financial statements amounted to£7,884,000 (2010: £4,176,000).

17 DEFINED BENEFIT PENSION SCHEMEThe Club operates a pension scheme providing benefits based on a finalpensionable pay. The pension scheme was closed to new entrants from 1 January2006. In addition to The Club’s contributions and employee contributions,employees may make additional voluntary contributions. The assets of thescheme are held separately from those of The Club by the investment managersappointed by the pension scheme trustees.

Contributions to the scheme are made on the advice of an independentqualified actuary using the projected unit method. The latest full actuarialassessment was at 31 December 2010.

The full valuation of 31 December 2010 has been rolled forward and adjustedby the actuary to 31 December 2011.

Reconciliation of scheme assets and liabilities to assets and liabilities recognisedThe amounts recognised in the balance sheet are as follows: 2011 2010 £000 £000

Fair value of scheme assets 32,816 31,093Present value of scheme liabilities (41,738) (38,933)

Net liability in the balance sheet (8,922) (7,840)

Scheme assetsChanges in the fair value of scheme assets are as follows:Fair value at start of year 31,093 25,671Expected return on assets 2,075 1,862Actuarial gains and losses (1,660) 1,560Employer contributions 2,279 2,489Contributions by scheme participants 238 270Benefits paid (1,209) (759)

Fair value at end of year 32,816 31,093

Analysis of assetsThe major categories of scheme assets are as follows:Equities 21,084 22,102Bonds and gilts 11,197 8,059Other assets 535 932

32,816 31,093

17 DEFINED BENEFIT PENSION SCHEME CONTINUED 2011 2010 £000 £000

Scheme liabilitiesChanges in the present value of scheme liabilities were as follows:Present value at start of year 38,933 36,685Current service cost 1,363 1,853Actuarial gains and losses 486 (1,005)Interest cost 2,165 2,159Benefits paid (1,209) (759)

Present value at end of year 41,738 38,933

Principal actuarial assumptionsThe principal actuarial assumptions at the balance sheet date were as follows: % %

Discount rate 4.75 5.55Rate of increase in salaries 4.00 4.50Rate of increase in pensions in payment 2.95 3.35Inflation assumption 3.00 3.50Expected return on scheme assets – equity 5.95 7.20Expected return on scheme assets – bonds and gilts 3.60 4.75Expected return on scheme assets – other 0.50 6.25

Amounts recognised in the Revenue AccountAmounts recognised in operating profit

Current service cost 1,363 1,853

Amounts recognised in other finance costInterest on scheme liabilities (2,165) (2,159)Expected return on scheme assets 2,075 1,862

Recognised in other finance cost (90) (297)

Amounts recognised in the statement of total recognised gains and lossesActual return less expected return on scheme assets (1,660) 1,560Changes in assumptions (3,275) 731Experience gains on scheme liabilities 2,789 274

Actuarial (losses) and gains recognised (2,146) 2,565

The cumulative amount of actuarial gains and losses recognised in the statementof total recognised gains and (losses) since 1 January 2002 is (£3,737,000)(2010: (£1,591,000)).

History of experience adjustments on scheme assets and liabilitiesAmounts for the current and previous 3 periods are as follows: 2011 2010 2009 2008 £000 £000 £000 £000

Fair value of scheme assets 32,816 31,093 25,671 19,461Present value of scheme liabilities (41,738) (38,933) (36,685) (28,087)Deficit in scheme (8,922) (7,840) (11,014) (8,626)

Experience adjustmentsExperience adjustments arising on scheme assets (1,660) 1,560 2,967 (6,305)Experience adjustments arising on scheme liabilities 2,789 274 (693) (358)

18 ANALYSIS OF CHANGES IN FUNDS

At At 1 January 31 December 2011 Cash flow 2011 £000 £000 £000

Cash at bank and in hand 2,613 14,856 17,469Short term deposits 23,619 (6,499) 17,120

Net funds 26,232 8,357 34,589


ANALYSIS OF INCOME AND EXPENDITURE year ended 31 December 2011

2011 2010 Income Expenditure Net Income Expenditure Net £000 £000 £000 £000 £000 £000

CLUB SITESSite fees and other income 43,500 38,583

Less:General site expenditure 33,347 31,925Salaries, office expenses and other general costs 8,102 7,882

43,500 41,449 2,051 38,583 39,807 (1,224)

MEMBERSHIP SERVICESMembershipClub subscriptions 13,099 12,704Entrance fees 118 107

Less:Salaries, office expenses and other general costs 3,231 3,033

13,217 3,231 9,986 12,811 3,033 9,778

Insurance ServicesPremium income 24,601 25,083Mayday 1,498 1,438Miscellaneous commission 995 990

Less:Premiums payable to brokers 16,383 16,927Stationery and miscellaneous expenditure 1,261 755Salaries and office expenses 3,553 3,289

27,094 21,197 5,897 27,511 20,971 6,540

Travel ServicesIncome from bookings 13,639 13,830Continental Sites Guide and other sales 269 291

Less:Payments to ferry operators 5,777 6,095Other payments and direct expenditure 6,414 6,385Salaries and office expenses 3,991 3,915

13,908 16,182 (2,274) 14,121 16,395 (2,274)

MARKETING SERVICESMarketingSale of Club merchandise 94 115General expenditure 2,656 2,761Salaries and office expenses 2,292 2,217

94 4,948 (4,854) 115 4,978 (4,863)

Club MagazineAdvertising revenue and sales 2,490 2,563Cost of production and postage 3,705 3,768Salaries and office expenses 570 424

2,490 4,275 (1,785) 2,563 4,192 (1,629)

EventsThe National 395 512 460 525Other temporary events 134 109 144 139Practical Caravanning Courses 222 166 189 192Salaries, office expenses and other general costs 593 621

751 1,380 (629) 793 1,477 (684)

Technical and InformationMiscellaneous expenses 25 32Salaries and office expenses 359 370

– 384 (384) – 402 (402)

MISCELLANEOUSGrants and services to Centres 174 181Grants and services to Divisions and Regions 71 78Annual Members’, Council and Committee Meetings 491 233Central office project costs 472 861

– 1,208 (1,208) – 1,353 (1,353)

TOTALS OF INCOME AND EXPENDITURE 101,054 94,254 96,497 92,608

OPERATING SURPLUS FOR THE YEAR 6,800 3,889

October 2012 The Caravan Club Magazine XX

Documents

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