TAUNTON Rugby Club's finances are in a 'healthy' state despite a five-figure loss for the past year.

Members will be told at next Thursday's (July 4) annual meeting that the club made a net loss of £13,000.

But club treasurer Jim Lewis says in his annual report: "My budgets for next year show that the club should break even after depreciation and tax have been charged.

"Both the club's committee and management will experience another sharp learning curve next year as activities off the field gather momentum.

"We have in place a strong management team and based on the results of our first five months of trade at Hyde Park and the number of bookings in the diary our commercial side of our club appears to be going from strength to strength."

Earlier in his report he says: "At the year end we were left with a net surplus before corporation tax and exceptional items of £25,889.

"But if this is adjusted for non-recurring income and expenditure relating to Priory Park and the move to Hyde Park then the true position would be a net loss of about £13,000. This loss was as expected."

He goes on: "The balance sheet shows that the club's position is improved on last year with net assets of £1,525,633 as compared to £1,431,878."