AGM

The meeting was held in the Centenary House Meeting Room at The Queen’s Club on Wednesday 24th November 2021 at 1800

Patron HRH The Earl of Wessex KG KCVO ADC

Attendees: David Norman (President, in the Chair), David Watson (Chairman), Fred Satow (Chairman elect), Chris Davies (CEO & Secretary), Andrew Power (Treasurer), Chris Vigrass, Rory Sutton, Mark Farmiloe, Charlie Foreman, Katie Leppard, Simon Talbot-Williams, Sue Haswell, John Prenn, Charles Hue Williams, Andrew Myrtle, Howard Angus, Richard Dalzell On-line: Giles Stogdon, Howard McMorris, Graham Findley, Nigel Kenyon, Nick Case, Norb Madison, Carl Snitcher, Brian Sharp, Mark Bellis

1. Apologies for absence:

Alan, Giddins, Alan Lovell, Owen Saunders, Roger Pilgrim, William Maltby, Jonathan Potter, Matthew Pugh, Nigel Mercer, Maggie Henderson-Tew, David Godfray, Clive Picton, Richard Langley, Christopher Johnstone, Mike Hayes, Henry Tudor, Lesley Jowsey, James Male, Marquess of Zetland, Andrew James, Iain Park-Weir, Barry Aitken, Ronald Paterson, Simon Mansfield, Jill Newby

Mr DM Norman thanked and was grateful to all attending the meeting.

2. Notice of the calling of the meeting.

The Notice was issued in September 2021 and promulgated to Members along with the Annual Report.

3. The Minutes of the Annual General Meeting held via zoom on 25th November 2020 were approved unanimously.

4. Matters arising from the Minutes

There were no matter arising not covered later in the meeting.

5. The Chairman’s Report and to adopt the Annual Report for 2020/21 by the passing of Resolution 1 in the Notice of Annual General Meeting. a. Mr DK Watson stated that 2020/21 has been an extremely difficult year for many. We suffered the virtual wipe-out of the entire competitive program across both games. No schools’ championship was held for the first time since the war years and for large periods no play was permitted in either game. Despite all this the Maltby Salver winner - Paul Weaver - managed to organise the British junior championships and get significant participation and energy from our youngsters. But sadly, the world championship and the opens were all cancelled or much delayed as were virtually all Amateur inter and intra club events. b. Despite all this there is, in my view, much to celebrate. First of all I want to express my thanks and appreciation for the Clubs, Boards Committees and Professionals who put up with a continual change of permissions and rules dictated by our government and their advisors and as a result planned, re-planned scheduled and rescheduled events and games pretty much continuously through the year I also want to commend the creativity and generosity of many of our members who have supported their profesional teams and courts through a prolonged period where income was in short supply - the fact that we emerge with all clubs and employees still fully functioning is a huge tribute to the generosity and commitment of all concerned. Lockdown deprived us of play but happily not for our love of the games - indeed in some respects it liberated time and energy from play on court to allow professionals and amateurs to contribute as volunteers to the IIP program causing training protocols and modules to be completely reworked and rewritten and it’s very pleasing that professionals old and new have taken this opportunity to prove and enhance their skills and achieve full accreditation We are training a new generation of IiP youngsters - many of you will have seen them perform at the recent real championsclub event. I am hugely proud of the T&RA IiP initiative and very grateful for the financial and operational support given by so many volunteers and donors. This program will need to run for a decade in my view to rebuild our professional ranks and protect the future of Real Tennis in this country. c. Turning to Rackets, Tom Billings claimed the vacant world singles title in 2019 and in the last few weeks he and Richard Owen wrestled the world doubles crown back from the USA. Encouragingly the Noel Bruce old boys (or is it now old persons) tournament saw a record entry while the Amateur singles concluded last night with a win for Tom Billings. d. Finally, however and - whilst not wishing to end on a down note - financial and syllabus pressures in schools make me anything but complacent about the future of Rackets in our schools. Participation at too many schools is low and we are not always able to engage the elite sportspeople that this fantastic game needs. Rugby school - where our new Chair honed his skills - has been without a full-time professional all year although we are working hard behind the scenes and hope to remedy this soon. The worrying age profile of our school professionals demands that we commit similar resources to recruit and train a new generation of Rackets professionals equipped not only to inspire and train young players but also to play the broader role in the schools and communities that the next generation will require. e. The T&RA will play a full part in this but I ask you all for your engagement and help - as players, enthusiasts and alumni to protect and demand a vital future for Rackets in our schools … thank you.

The President thanked Mr DK Watson for his review and stated there was much to be proud of during his tenure as Chairman. In accordance with Article 32.2.2, the Annual Report of the Company for the 2020/21 season was adopted with alacrity. (Ordinary Resolution 1 in the Notice of Annual General Meeting).

6. To adopt the Trustees’ Report and Financial Statements

for the year ended 30 June 2021 by the passing of Resolution 2 in the Notice of Annual General Meeting. Mr A C Power reported on the financial status divided into the management of three discrete areas: a. The T&RA has weathered the covid 19 storm well financially. As at year end 2020/21 the T&RA had £2.8 million in funds under management – £2 million in unrestricted funds, £0.6 million in restricted funds and £0.2 million in endowment funds. This represented a rise of 17% in the value of funds over the past year reflecting a rebound in world stock markets after the initial worries about the impact of the pandemic. As a reminder, the unrestricted funds are held to ensure adequate income generation and to provide a firm foundation for future grants; there are seven restricted funds, these funds having been donated for specific purposes e.g. for the training and development of professional coaches. We can only use the income from the endowment fund for development of the games. Total funds on the balance sheet have risen to £2.9 million by the end of the first quarter of this financial year. b. In terms of the T&RA profit and loss statement, for the year 2020/21 we posted a gain of £76k compared to a loss of £22k the previous year. This primarily was due to delays in the start of the Investing in Professional programme (IiP) and limited grants for court development or refurbishment. Both

were significantly delayed due to the pandemic and the closure of courts and lack of games. Grants totalled £35k compared to £124k the previous year, a difference of £89k. c. We manage the finances in three sections: 1. Regular expenditure, this covers principally subscriptions less the cost of supporting members, including the hardworking office staff, marketing, IT & communications. In 2020/21 we showed a modest excess expenditure over income of £16k. Membership have kept up well, despite the inability to play the games for long periods, although subscriptions were down by 7%. Staffing costs were flat compared to the previous year, but down from plan as some staff were furloughed as part of the government’s scheme. Communication costs were up as we designed and implemented a new branding approach, which was launched in Q1 this financial year. 2. Tournaments; for 2020/21, only a few amateur tournaments took place hence there was negligible income and expenditure. 3. Development: This covers court & facilities building and refurbishment, the recruitment and training of professionals and encouraging participation in the two games. The expenditure that took place was mainly due to the IiP programme, albeit at a vastly reduced scale to pre-pandemic plans. Grants were down from £95k the previous year to £5K. Grants for professional coaches were maintained at the same level as the previous year despite the restrictions on play. We also invested substantially in RTO.2 the upgrade of the Real Tennis Online Booking and handicap system. d. Dividends on our investments are used to help fund Development, and these dividends held up better than expected. At the beginning of the pandemic, companies quickly cut dividends to preserve cash, but these began to be reinstated as the financial impact of the pandemic proved less severe than expected for many companies. e. While we seek to break-even on Regular activities and Tournaments over time, in contrast, development costs are expected to be funded by the returns on our investment portfolio - interest, dividends and capital gains. Development expenditure, particularly on courts is lumpy in nature, and investment returns will vary depending on stock market conditions. f. Turning to the outlook for 2021/22, we expect a lower net income this year as we invest into the games, most noticeably, investing in our professionals both in Real Tennis and Rackets. Membership is expected to continue to increase, albeit marginally, and staff costs will revert to planned levels following the end of furlough. We will continue to spend on upgrading RTO, with this due to complete in January 2022. Tournaments have restarted and our sponsorship income from Brown Advisory will thus resume. We will continue to invest heavily in professional development. The immediate level of grants expected for courts will be relatively modest, as there are no major planned developments on the short-term horizon, partially reflecting the very high level of spending on court development in the 2019/20 year. However, we have upped our investment in professionals as they are the lifeblood of the games. The T&RA has committed to support the IiP programme to the tune of around £50k annually for the next three years, and this money, in conjunction with the donations from others, especially the Real Champions Club, will really get this programme on a strong footing. Finally, we expect interest and dividends to continue to rebound to pre-pandemic levels. All in all, we manage our finances prudently, while being able to invest back into the games. We expect this to continue. Mr DM Norman asked about the projected income at the end of the year, to which the Treasurer responded approximately £20k. Mr CS Davies stated that the T&RA intended to deploy funding to act as a catalyst for new projects, subject to certain conditionality. Mr DM Norman asked about the prospect of a Tennis Court Lite being built and how much had been invested to date. Mr DK Watson stressed this option had been discussed with recent court projects but they preferred traditional construction methods. Much of the funding to date had been provided by the generosity of a small number of patrons, especially Mr RG Pilgrim with donations for this specific purpose. Separately, Mr DK Watson stressed there were two key recent factors which had bolstered the T&RA’s funds; the creation of the benefactor scheme and the achieving of charitable status. Both of these had significantly increased the ability of the T&RA to provide vital funds to the two games. In accordance with Article 32.2.2, the Trustee’s Report and Financial Statements for the twelve months ended 30 June 2021 were adopted unanimously. (Ordinary Resolution 2 in the Notice of Annual General Meeting).

7. In accordance with Article 50.4.1, haysmacintyre were appointed as registered auditors to carry out an Independent Examination of the Company’s accounts for the financial period 1st July 2021 to 30th June 2022. (Ordinary Resolution 3 in the Notice of Annual General Meeting). This was carried unanimously.

8. To announce the retirement of Mr DK Watson in accordance with Articles 23.1 and 23.3 having served as an Elected Director for three years and as Chairman for six years, by the passing of Resolution 4. Mr DM Norman expressed his thanks to the outgoing chairman and wanted it recorded the three major achievements of his term of office. 1. The transformation of the T&RA into a charity 2. Efforts made to generate new income via patrons and benefactors in the absence of securing a new corporate sponsor. 3. The creation of the Investing in Programme, involving over 40 volunteers across Real Tennis. This is far reaching initiative which will protect the game and the initiative is expected to run for at least ten years.

9. To confirm, in accordance with Articles 14.1, 23.2 and

23.3, the re-election of Mr FC Satow as a Director, having been appointed Chairman by the Directors, by the passing of Resolution 5. This was passed enthusiastically by the membership which looked forward to the next three years under the leadership of Mr FC Satow.

10. To confirm, in accordance with Articles 20.2 and 23.2,

the re-election of Mr AC Power and Mr MKM Farmiloe as Directors of the Company, by the passing of Resolution 6. Both were re-elected with full approval.

11. The Board’s proposed increases to Individual, Associate

and Affiliated Club subscription rates in accordance with the schedule (below), by the passing of Resolution 7 in the Notice of Annual General Meeting was carried unanimously.

Subscription or Corporate Club Subscriptions

Individual Full Membership Subscription Rates at the age of joining 2020/212021/22

70 and over 28 -69 21 -27 Under 21 or Full Time Students and under 28 £36.50 £37.00 £65.50 £66.50 £39.00 £39.50 £15.50 £15.50

Associate Membership Subscription Rates

All ages £29.00 £29.50

12. Mr FC Satow outlined his future priorities as the new

Chairman and envisaged that we will have three main priorities over the coming three years:

REAL TENNIS INVESTING IN PROFESSIONALS

Firstly, to continue the excellent Real Tennis Investing in Professionals programme to recruit and train new professionals to support the game of real tennis, which was instigated by and is principally supported by the T&RA and David Watson, but has also been facilitated by John Whiting, Carl Snitcher and many others, including many professionals. We currently have three young men at Middlesex, Wellington and Cambridge, who are centrally funded and one at Seacourt, who is club funded, who we hope will be leading professionals of the future. We also have at least three candidates coming up behind them and being interviewed as well as a number of clubs keen to recruit and train these aspiring professionals. The programme has also re-energised professional training in Tennis and we also have ten professionals who are in the process of being accredited at IIP level 2*. It is envisaged that this programme will operate through the 2020s and beyond to ensure that we have a group of highly trained young professionals to inspire players and enhance the game for the next 100 years.

RACKETS INVESTING IN PROFESSIONALS

My second priority will be to replicate a similar programme for Rackets, where the succession issues are at least as significant and urgent and in some ways the challenges are greater, because Rackets players have less influence with the schools, where most of the courts are. Whilst we are progressing this with the help of Rory Sutton and the Rackets committee, we are seeking to identify a volunteer to lead this programme. So do please step forward if you would like to help. As some of you may know we have recently been helping Rugby School improve their Rackets offering.

PRESERVATION OF EXISTING AND DEVELOPMENT OF NEW COURTS

The third priority will be to preserve all the courts we have in both Tennis and Rackets, with the help of Simon Talbot–Williams, our Court Development Director. As some of you will know, Simon is currently helping a number of clubs with various issues. However, if the opportunity arises to develop a new Tennis or Rackets court and we have the appropriate resources to do so, we will of course seize the chance to do so.

Mr DK Norman then asked the two Games committee Chairmen for their priorities.

13. The Tennis Committee Chairman, Mr C Vigrass, said that key elements are a support of IiP, and a rewrite of RealTennisOnline (RTO), the software which runs the handicap system. The Tennis Committee have also reached out to clubs and found little commonality with their ongoing concerns, although many are eagerly awaiting RTO2. Good to see the return of the games post covid lockdowns.

14. The Rackets Committee Chairman, Mr RD Sutton thought that much had been covered previous. Very encouraged by the current state of school leavers and the growth of the ladies’ game. The next generation of professionals remains a concern and this will be a top priority as the T&RA reaches out into schools over the next 12 or so months. considered increasing the age at which annual subscriptions reduce due to age from 70 to 75 or 80. We are living longer (than when this rule was first brought in) and I'm sure the number of tournament entries from those in this age group grows every year. I suggest 75 then rising at the Boards discretion. This benefit must have been brought in to maintain membership levels for those who had become inactive. 70 is no longer this age. Mr CS Davies responded that it was this was a sensitive issue and the current policy was to invite those members reaching 70 to retain their subscription at the current level (or even consider becoming Benefactors). However, this was a subject which the Treasurer and Secretary would consider. Mr S Talbot-Williams thought this might encourage youngsters into the game if they saw they were being supported by members of all ages. Mr M Streets thought the streaming coverage of this year’s British Open from Queens was poor. The feed dropped regularly, the default resolution was low, and there was either no sound, or substantial background noise. There are no titles, so it was impossible to know who was playing, unless you know the professionals personally. Given that this could be an important tool in introducing new players to the sport, what steps will the T&RA take to ensure that there is adequate bandwidth to support the necessary cameras, and ideally the ability to add score captions? Mr DK Watson commented that there was now a real expectation that all events would be streamed to raise a wider awareness of the games and that we had fallen short this year for a variety of reasons, including a West London broadband outage on one of the days. Mr C Vigrass thought we needed to look at how this might be better co-ordinated between the clubs, and chairmen were certainly interested. Mr CS Davies had said the cost to stream professionally this year would have been astronomic due to the short notice and the problem that key experts were already deployed elsewhere, and not yet returned from COP26. A specialist had been brought in for a day to make sense of the QC equipment, used for the World Championship in 2018. He had managed to reboot but didn’t think he could supply anything better with limited equipment. Furthermore, the efforts to use the GoPro had yielded 1080p quality streaming, overcoming other technical difficulties. He acknowledged there were issues and had spoken to Ryan Carey and Ben Geytenbeek during the Open (the latter was attending) to discuss alternative strategies. Both agreed that the maximum output had been achieved within the limitations of the QC environment. He planned to gather together experts and discuss an overall concept for Real Tennis, and to evaluate a professional streaming company or other options for 12 months’ time. Given six months’ notice, the cost of the former would be considerably reduced.

16. Any other business

Mr DM Norman concluded by acknowledging the contributions of the T&RA core team as it battled through the travails of covid and, together with the Games Committees, had launched many exciting initiatives. He considered the organisation was vibrant and was being rebooted moving forward. The contribution of Mr DK Watson should be acknowledged and it was hoped he would remain closely engaged. The member clubs had stayed focussed and the focus needed to be on schools to ensure their future success. He finished by wishing the incoming chairman the very best for the years ahead. Mr S Talbot- Williams raised the desire to proactively support rejuvenation of the clubs’ facilities over time. Mr Norb Madison added: Thank you for adding the zoom component to the meeting. I have been a member for over 20 years and this is the first meeting I have been able to attend. As a NARA and Foundation board member, I find this meeting very helpful.

YOUR ASSOCIATION THE

The T&RA is an independent charity, which relies on annual subscriptions, sponsorship, donations and its investments

The T&RA is the governing body for the sports of Real Tennis & Rackets and responsible for the promotion, growth and governance of both sports in the UK. The association works specifically to advance amateur sport for the benefit of the public by encouraging participation in both sports.

The purpose of the T&RA is to promote and support Play, Places & Professionals:

Play

We promote the sports to all, organise tournament play, encourage new players from all backgrounds with an emphasis on the junior game.

Places

We provide grants for court protection & restoration; new court development projects; and protecting the traditions of the games.

Professionals

We support the next generation of professionals; sustaining the professional game; and work with them to create commercial opportunities.

Our Mission Our mission is to create a sustainable and vibrant future for Real Tennis & Rackets. Enabled by progressive governance and innovation, the T&RA is dedicated to a long future for our games, to match their illustrious history.

The T&RA promises to protect & grow the games we love. We believe in the power of our games to engage and entertain. Tennis & Rackets players are the greatest advoactes of the games whether playing or watching.

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