Lowerhouse Cricket Club CIC Ltd have released financial results for the year ending 30th September 2007.
Turnover for the year rose to £187K with a surplus of £13.8K on the back of Bar Sales of £116K. The Bar sales of £116K at a gross profit of 45% is a fitting reward to all involved and a good start to post phase 1 of the club re-development particularly considering the horrendous weather during the summer of 2007.
The Lowerhouse Community Interest Company was formed on 11th May 2006, coinciding with the opening of the upgraded clubhouse. In announcing the initial success it is only right to thank the Bond Scheme members for their generosity and goodwill which with an increased brewery loan provided the funds for the work to be undertaken. Matt Hope provided high quality project management helping to keep costs to a minimum.
The financial results have enabled the club to invest in cricket infrastructure and Phase 2 of the club re-development is currently underway and news of significant developments will be published here shortly.