SCUBAHUB
British Sub- Aqua Club Financial Review 2023
The Members of Council present their annual report on the affairs of the British Sub-Aqua Club ( BSAC ) together with the financial statements and auditors ’ report for the year ended 31st December 2023 . The Group position reported is for BSAC and its wholly owned subsidiary , BSAC International Limited . The Company position reported is for BSAC only .
Principal Activity The principal activity of the group in the year under review continued to be that of promoting underwater sport , exploration and science and related studies , safety in those activities , to maintain the highest standards therein , to co-operate with related organisations , and to sustain recognition as the National Governing Body in the UK .
2023 was a significant year for BSAC as we celebrated our 70th anniversary in the October . The anniversary was marked with a special regional event at Capernwray Diving Centre involving many of our branches and members . There was also a special 70th anniversary edition of SCUBA magazine and a Thames Boat Run , organised with the kind permission of the Port of London Authority and the support of the RNLI and the Erith Yacht Club .
Summary of 2023 2023 was a challenging year for BSAC due a combination of inflationary cost pressures and lower demand for courses and training packs . After many years of low inflation , 2023 saw increased pressure on BSAC ’ s
12 costs . An increase in SCUBA postage costs , an additional member of staff , a mileage rate increase for volunteer costs and higher costs for accommodation has contributed to the deficit in 2023 . More face-to-face meetings also took place in 2023 which resulted in an increase in costs . Whilst every effort was made to avoid passing on these costs to the membership , some price rises were inevitable . Demand for training packs was lower than anticipated due to the recruitment of already trained members , and the Instructor Training Scheme ( ITS ) struggled with the double impact of a reduction in demand and a significant increase in costs .
Consequently , while BSAC ’ s income rose by £ 113k to £ 1,802 , it was offset by a cost increase of £ 196k to £ 1,912k , and our operating loss increased to £ 110k from £ 26k Bank interest of £ 9k reduced this to a loss of £ 100k , and while we have sufficient assets to cover losses of this magnitude for several years , it is clearly unsustainable in the long term . BSAC recognises these headwinds , and we remain focused on the implementation of the 2024-2026 strategy . We continue to help our branches – the lifeblood of the club – to work together as a community , supporting each other by sharing equipment , boats , pools and instructors . Another key focus of the strategy is to enable the club to become more inclusive . We recognise that female divers remain underrepresented in BSAC and will continue with our efforts to recruit and train more female divers . We also recognise there is still a way to go . During 2023 , we have also continued to develop and improve our offering to core members , including :
■ Restructuring and relaunching Dive Leader , together with eLearning
■ Developing and launching the Underwater Surveyor course
■ Increased use of the MyBSAC app with over 1,000 instructors signing of more than 62,000 lessons since its launch .
Recruiting and training members and instructors also remain our priority and , in 2023 , the overall number of fully paid members increased by 557 from 22,890 to 23,447 .
In 2023 , we recruited a higher number of already trained members , but fewer people brand new to diving , which affected retail sales . Attendance on Instructor Training Scheme ( ITS ) events was down to 1,283 participants ( 1,338 in 2022 ) but it has been extremely positive to see to see the number of university students attending ITS events especially at Open Water Instructor Level . This will now help support University clubs to recruit and train more members .
While the BSAC branch model remains at the heart of the organisation and works well for many of our members , we also recognise that the way members engage with the sport of diving is evolving , and some divers do not have the time or inclination for branch-based training . These divers would have previously been trained by other organisations such as PADI , but we firmly believe that BSAC training is the best in the world , and so we have piloted fast-track training as a means of attaining a qualification in a time frame that suits more divers . Not only will they receive the benefits of BSAC training , but we also hope that a proportion of them will , having witnessed BSAC ’ s high quality and standards , then choose to join a branch and continue diving .
In 2023 , we also increased investment in BSAC ’ s social media channels . This investment is in line with our strategic ambition to attract more younger ( under 35 ) members whilst continuing to engage and retain our existing loyal members .