Tuesday, September 28, 2021

England Hockey posts financial accounts amid funding uncertainty

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Hockey Paper staff
Latest breaking news, previews and match reports written by Hockey Paper staff

By Richard Bright

England Hockey’s year-end accounts look in decent shape as the national governing body looks to further develop the visibility of the sport, coupled with a vision not to become reliant on UK Sport funding in the future.

In latest financial accounts filed last month, the national governing body made a loss of £30,000, while income fell from £14.4 million to £11.3m due to hosting the World Cup the previous year.

EH did warn that the sport’s public funding remains “uncertain” and is “a major risk to the company”.

However, England Hockey is continuing its bid to build on the successes at London and Rio Olympics, while its 2017-21 strategy aims to reduce a reliance on government funding.

In the last financial year, the percentage of total income from UK Sport and Sport England reduced by six per cent to 59 per cent.

EH announced a deficit for the year following GB’s inclusion in the Pro League’s inaugural year. Buoyed by the reduction in travel and new schedule for year two of the global league, this led to the decision by EH chiefs to develop Big Stadium Hockey and the innovative ‘pop up’ pitch.

EH used a small amount of its £1.58m reserves for the “long-term development of the sport”.

But the company’s board believed that the £120,000 investment in the Pro League and the long-term benefits of hosting hockey in larger stadiums would boost commercial value.

Meanwhile, employee staff costs rose from £3.48m to £3.66m in the last year.

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