Carlton Club in the red as it counts the cost of Labour’s victory
The Conservative Party stronghold, the Carlton Club, has fallen into the red as it counted the cost of Labour’s victory in last year’s general election.
The private members’ club, which was the original home of the party, said it lost out on revenue after “functions declined due to the cancellation of political events following political changes in 2024”.
The Carlton Club added that rising costs for electricity, gas, laundry and repairs also contributed to an operating trading deficit of £120,000 for the year.
However, the club added that its “membership numbers remain strong” while it also received a £90,000 rebate through government business rates relief for the retail, hospitality and leisure sectors.
That total was down from the £110,000 business rates relief it received in 2023.
As a result, the Carlton Club has reported a surplus before tax of £80,000, according to new accounts filed with Companies House.
The total is down from the £273,000 it posted for 2023.
The club’s operating deficit of £120,000 also comes after it made a surplus of £68,000 in the prior year.
Carlton Club’s subscriptions income rises
The new accounts also show that the Carlton Club’s income increased from £5.1m to £5.2m in 2024.
The club’s income from subscriptions rose from £1.6m to £1.8m and from £933,000 to £1m for accommodation.
Its income from food, liquor and tobacco sales remained flat at £2.2m.
The club was set up in 1832 and counted Arthur Wellesley, 1st Duke of Wellington, as a founding member.
The directors of the Carlton Club include Sir Anthony Garrett, Stuart Goldsmith, George Kynoch, David Curtin and John East.
The results for 2024’s financial year come after the club said its 2023 performance was impacted by “unwelcome challenges”.
At the time, the club said: “In a year of financial uncertainty, the club experienced both successes and challenges.
“This year, unwelcome challenges included high inflation rates for all costs, coupled with a dramatic rise in energy prices.”