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2021-03-31-accounts

Tottenham Community Sports Centre

Charity No. 1022202

Company No. 02818821

Trustees' Report and Unaudited Accounts

31 March 2021

Tottenham Community Sports Centre Contents

Pages
Trustees' Annual Report 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Summary Income and Expenditure Account 8
Balance Sheet 9
Notes to the Accounts 10 to 18
Detailed Statement of Financial Activities 19 to 21

Page 1

Tottenham Community Sports Centre Trustees Annual Report

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 02818821

Charity No. 1022202

Principal Office

Address Line 5

Registered Office

701-703 High Road Tottenham London N17 8AD

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

C. Bennett D. Lewis M. Springthorpe

Company Secretary

K. Lincoln

Accountants

Elite Accountants 717 Green Lanes London N21 3RX

Page 2

Tottenham Community Sports Centre Trustees Annual Report

OBJECTIVES AND ACTIVITIES

The charity's principle activity is to provide or assist in providing, in the interests of social welfare, facilities for recreation, physical education or other leisure-time occupations for the public at large and, in particular, the inhabitants of Tottenham, being facilities:-

a) of which those persons have need by reason of their youth, age, and infirmity or disablement, poverty or social and economic circumstances; and

b) which will improve the conditions of life for such persons by promoting their physical, mental and spiritual well-being.

Our premises are leased from the local authority on a 60 year FRI commercial lease dated 1st April 1992.

A wholly owned subsidiary company, Tottenham Community Sports Centre 703 Club Limited, operates a social club and licensed bar, all profits being covenanted to this company.

All surpluses generated from all activities are applied to maintaining and improving the quality and range of facilities available.

The Trustees confirm that due consideration has been given to the Charity Commissions guidance on the public benefit requirement and ensure that this is kept under constant supervision and review.

ACHIEVEMENTS AND PERFORMANCE

2020/2021 dawned with the beginning of many restrictions imposed by the terrible COVID 19 pandemic.

Our facilities were closed on 23rd March 2020 and apart from some intermittent, mainly outdoor sports bookings as guidelines allowed, remained closed for the whole of the financial year.

We were able to support the more vulnerable members of our community by the continuance of the Oakmont Social Care Day Centre who were able to follow the Governments guidelines relating to health and social care. Similarly we continued to accommodate the Tower Gardens After School Club for children with autism.

Due to the COVID restrictions and the consequent financial squeeze, a number of our 2020/2021 planned developments were put on hold.

Access to Government support grants, local authority rent assistance, donations and Sport England grants helped our financial survival and the hire of facilities by Haringey Council for COVID Flow Testing ensured that we were able to “weather the storm”

We firmly believe that sport crosses all social divides and our importance to community health and cohesion will become even more important as we exit the pandemic.

Our thoughts are with all those affected by the COVID virus. We are confident that we will emerge stronger and able to support our community.

Page 3

Tottenham Community Sports Centre Trustees Annual Report

FINANCIAL REVIEW

Given the ‘non-purpose’ built nature and age of the premises in which the Centre operates, the possibility of urgent, substantial repairs to the fabric of the property that the Centre may have to fund from reserves is ever present. While every reasonable effort is made to maintain the property to a high standard, the trustees consider it prudent to maintain a fairly high level of readily available reserves so that significant problems can be dealt with as they arise.

The trustees are constantly mindful of the possibility of substantial increases in rent and or business rates - despite the local authority's agreement to fund part of the rent and all business rate charges. With local authority finances generally weak, the trustees believe that this threat must be kept firmly in mind, if not at the forefront of current concerns.

With the implications of the three areas of risk in mind, the trustees have a designated "Contingency Fund" of £50,000.

The nature of the Centre's activities is such that users of its facilities may sustain injury for which the Centre could be held responsible. The trustees believe that the Centre has sufficient relevant insurance cover to deal with any foreseeable claim.

Within the constraints of prudence with regard to the maintenance of adequate reserves to confront the above risks, the trustees are committed to the principle of spending surplus funds on the expansion of facilities as genuine need arises.

Our ongoing commitment to improving facilities within our limited budget, whilst badly affected by the financial burden of COVID Lockdown, will resume as soon as funds are replenished.

The Centre was grateful to receive £102,923 in Government grants during the year, which consisted of local authority grants and coronavirus job retention scheme grants. We also received £52,750 from The Lottery Fund. Without this support the Charity would have recorded a significant loss for the year.

Page 4

Tottenham Community Sports Centre Trustees Annual Report

STRUCTURE, GOVERNANCE AND MANAGEMENT

Trustees are appointed by members of the association. A minimum of 3 trustees must be appointed. Of those appointed, one must retire each year by rotation, although he/she may be re- elected at the Annual General Meeting.

Derek Lewis will retire at this year’s AGM but will stand for re-election

The Trustees carry out both governance functions and also other roles within the trust.

Their core functions are:

They also liaise between the trust and the outside world: providing a conduit for information and ideas, representing it and acting as an ambassador for it.

Day to day management is delegated to specified individuals who report to the Trustees on a regular basis.

Staffing

The Centre operates on a part voluntary / part salaried basis with 10 part time and 2 full time staff all of whom also provided additional voluntary hours along with our 10 unpaid volunteers.

We are indebted to our band of volunteers, in particular, Kevin Lincoln, Keith Grinham, Tony Curtis, John Beckles, Esmond Francis, Jenny Peters, George Blair, Beverley Allen, Sashi Port and Valerie Godonu without whom, we would struggle to survive.

Motto

Our motto remains, Sport for All ….at an Affordable Price.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

M. Springthorpe Trustee 31 March 2021

Page 5

Tottenham Community Sports Centre Independent Examiners Report

Independent Examiner's Report to the trustees of Tottenham Community Sports Centre

I report to the charity trustees on my examination of the accounts of Tottenham Community Sports Centre for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA.

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

George Charalambous FCCA Elite Accountants 717 Green Lanes London N21 3RX

31 March 2021

Page 6

Tottenham Community Sports Centre Statement of Financial Activities

for the year ended 31 March 2021

Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Other
8
Total
Expenditure on:
Raising funds
9
Charitable activities
10
Other
11
Total
Net gains on investments
Net income
12
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
4,393
142,710
6,665
27
102,923		 Total funds
2021
£
4,393
142,710
6,665
27
102,923		 Total funds
2020
£
1,155
209,334
70,065
109
-
256,718
-
3,000
223,721		 256,718
-
3,000
223,721		 280,663
918
4,012
269,107
226,721
-		 226,721
-		 274,037
-
29,997
-		 29,997
-		 6,626
-
29,997 29,997 6,626
29,997
157,361		 29,997
157,361		 6,626
158,079
187,358 187,358 164,705

Page 7

Tottenham Community Sports Centre Summary Income and Expenditure Account

for the year ended 31 March 2021

Income
Interest and investment income
Gross income for the year
Expenditure
Interest payable
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net income/(expenditure) before tax
for the year
Net income /(expenditure )for the year		 2021
£
256,691
27
256,718
224,428
6
2,287
226,721
29,997
29,997		 2020
£
280,554
109
280,663
278,788
-
2,593
281,381
(718)
(718)

Page 8

Tottenham Community Sports Centre Balance Sheet

at 31 March 2021

Company No.
02818821
Notes
2021
£
Fixed assets
Tangible assets
14
5,344
Investments
15
100
5,444
Current assets
Debtors
16
24,920
Cash at bank and in hand
165,104
190,024
Creditors:Amount falling due within one year
17
(8,110)
Net current assets
181,914
Total assets less current liabilities
187,358
Net assets excluding pension asset or liability
187,358
Total net assets
187,358
The funds of the charity
Restricted funds
18
Unrestricted funds
18
General funds
187,358
187,358
Reserves
18
Total funds
187,358		 2020
£
7,631
100
7,731
20,115
140,094
160,209
(10,579)
149,630
157,361
157,361
157,361
157,361
157,361
157,361

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 15 November 2021

And signed on its behalf by:

M. Springthorpe Trustee 31 March 2021

Page 9

Tottenham Community Sports Centre Notes to the Accounts

for the year ended 31 March 2021

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 10

Tottenham Community Sports Centre Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Fixtures, fittings and 15% Straight line equipment All weather 6.67% Straight line

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 11

Tottenham Community Sports Centre Notes to the Accounts

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 12

Tottenham Community Sports Centre Notes to the Accounts

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total
Expenditure on:
Raising funds
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
Sundry donations received		 Unrestricted
£
4,393
4,393		 Unrestricted
funds
2020
£
1,155
209,334
70,065
109
280,663
918
4,012
276,451
281,381
(718)
(718)
(718)
158,079
157,361
Total
2021
£
4,393
4,393		 Total funds
2020
£
1,155
209,334
70,065
109
280,663
918
4,012
276,451
281,381
(718)
(718)
(718)
158,079
157,361
Total
2020
£
1,155
1,155

Page 13

Tottenham Community Sports Centre Notes to the Accounts

Sports membership and
sport facilities hire
Other facilities hire
Sport and well being
community grants
6
Income from other trading activities
Car boot sales and other
fundraising activities
Car park facilities
Canteen
7
Income from investments
Interest receivable
8
Other income
Government support grants
9
Expenditure on raising funds
Fundraising trading costs
Canteen		 Unrestricted
£
23,740
66,220
52,750
142,710
Unrestricted
£
-
6,665
-
6,665
Unrestricted
£
27
27
Unrestricted
£
102,923
102,923		 Total
2021
£
23,740
66,220
52,750
142,710
Total
2021
£
-
6,665
-
6,665
Total
2021
£
27
27
Total
2021
£
102,923
102,923		 Total
2020
£
123,641
85,693
-
209,334
Total
2020
£
15,714
52,725
1,626
70,065
Total
2020
£
109
109
Total
2020
£
-
-
Total
2021
£
-
-		 Total
2020
£
918
918

Page 14

Tottenham Community Sports Centre Notes to the Accounts

10 Expenditure on charitable activities

10 Expenditure on charitable activities
Unrestricted Total Total
2021 2020
£ £ £
Governance costs
Accountancy fees 3,000 3,000 3,000
Legal and professional - - 1,012
3,000 3,000 4,012
11 Other expenditure
Unrestricted Total Total
2021 2020
£ £ £
Bank loan and overdraft
interest payable		 6 6 -
Employee costs 125,045 125,045 145,679
Premises costs 66,363 66,363 89,157
Amortisation, depreciation,
impairment, profit/loss on 2,287 2,287 2,593
disposal of fixed assets
General administrative costs 30,020 30,020 31,678
223,721 223,721 269,107
12 Net income before transfers
2021 2020
This is stated after charging: £ £
Depreciation of owned fixed assets 2,287 2,593
13 Staff costs
Salaries and wages 118,992 136,831
Social security costs 3,497 5,719
Pension costs 1,647 1,780
124,136 144,330
No employee received emoluments in excess of £60,000.
The average monthly number of full time equivalent employees during the year was as follows:
2021 2020
Number Number
Administrative staff 12 12
12 12
The charity's pension is a work place pension held with NEST.

Page 15

Tottenham Community Sports Centre Notes to the Accounts

14 Tangible fixed assets

Cost or revaluation
At 1 April 2020
At 31 March 2021
Depreciation and
impairment
At 1 April 2020
Depreciation charge for the
year
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020
15 Investments
Cost or revaluation
At 1 April 2020
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020
Investment in Subsidiaries
The company has the following subsidiary undertakings:
Name of company
Country of
incorporation
(if not UK)
Class of
shares held
Tottenham Community
Sports Centre 703 Club Ltd
England
Ordinary
16 Debtors
Trade debtors
Other debtors
Prepayments and accrued income		 Fixtures,
fittings and
equipment
£
37,847
37,847
30,319
2,186
32,505
5,342
7,528
% age of
shares held
%
100
2021
£
6,025
15,895
3,000
24,920		 All weather
£
107,205
107,205
107,102
101
107,203
2
103
Investment
in
Subsidiaries
£
100
100
100
100
Capital and
reserves at
end of the
relevant
year
£
(3,903)		 Total
£
145,052
145,052
137,421
2,287
139,708
5,344
7,631
Total
£
100
100
100
100
Profit/(loss
) for the
relevant
year
£
(9,256)
2020
£
4,997
15,118
-
20,115

Page 16

Tottenham Community Sports Centre Notes to the Accounts

17 Creditors:

17 Creditors:
amounts falling due within one year
Bank loans and overdrafts
Trade creditors
Other taxes and social security
Other creditors
Accruals and deferred income		 2021
£
315
1,892
2,641
262
3,000
8,110		 2020
£
2,332
3,640
-
1,607
3,000
10,579
18 Movement in funds
Restricted funds:
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds
19 Analysis of net assets between funds
Fixed assets
Investments
Net current assets
20 Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 April
2020
157,361
157,361		 Incoming
resources
(including
other
gains/losses
)
£
256,718
256,718
At 1 April
2020
£		 Resources
expended
£
(226,721)
(226,721)
Unrestricted
funds
£
5,344
100
181,914
187,358
Cash flows
£		 At 31
March
2021
£
187,358
187,358
Total
£
5,344
100
181,914
187,358
At 31
March
2021
£
140,094 25,010 165,104
140,094
140,094		 25,010
25,010		 165,104
165,104

Page 17

Tottenham Community Sports Centre Notes to the Accounts

21 Commitments

Pension commitments

Pension commitments
2021 2020
£ £
The pension cost charge to the company
amounted to: 1,647 1,780

Page 18

Tottenham Community Sports Centre Detailed Statement of Financial Activities

for the year ended 31 March 2021

Income and endowments from:
Donations and legacies
Sundry donations received
Charitable activities
Sports membership and sport
facilities hire
Other facilities hire
Sport and well being community
grants
Other trading activities
Car boot sales and other
fundraising activities
Car park facilities
Canteen
Investments
Interest receivable
Other
Government support grants
Total income and endowments
Expenditure on:
Costs of other trading activities
Canteen
Total of expenditure on raising
funds
Governance costs
Accountancy fees
Legal and professional
Total of expenditure on charitable
activities
Other expenditure		 Unrestricted
funds
2021
£
4,393
4,393
23,740
66,220
52,750
142,710
-
6,665
-
6,665
27
27
102,923
102,923
256,718
-
-
-
3,000
-
3,000
3,000		 Total funds
2021
£
4,393
4,393
23,740
66,220
52,750
142,710
-
6,665
-
6,665
27
27
102,923
102,923
256,718
-
-
-
3,000
-
3,000
3,000		 Total funds
2020
£
1,155
1,155
123,641
85,693
-
209,334
15,714
52,725
1,626
70,065
109
109
-
-
280,663
918
918
918
3,000
1,012
4,012
4,012

Page 19

Tottenham Community Sports Centre Detailed Statement of Financial Activities

Bank loan and overdraft interest
payable
Employee costs
Salaries/wages
Employer's NIC
Pension costs
Staff welfare
Premises costs
Rent
Rates
Light, heat and power
Premises cleaning
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of Fixtures, fittings
and equipment
Depreciation of All weather
Bank charges
Equipment leasing and hire
charges
Equipment repairs and
maintenance
General insurances
Advertising and promotion
Computer and software
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains		 6
6
118,992
3,497
1,647
909
125,045
5,500
6,458
23,657
10,037
20,711
66,363
2,186
101
153
4,724
10,266
7,473
1,460
941
1,028
205
2,866
904
32,307
223,721
226,721
-
29,997
29,997
-		 6
6
118,992
3,497
1,647
909
125,045
5,500
6,458
23,657
10,037
20,711
66,363
2,186
101
153
4,724
10,266
7,473
1,460
941
1,028
205
2,866
904
32,307
223,721
226,721
-
29,997
29,997
-		 -
-
136,831
5,719
1,780
1,349
145,679
12,000
1,486
35,506
7,461
32,704
89,157
2,491
102
-
4,332
7,931
7,301
-
2,335
1,746
2,793
4,103
1,137
34,271
269,107
274,037
-
6,626
6,626
-

Page 20

Tottenham Community Sports Centre Detailed Statement of Financial Activities

Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 29,997
157,361
187,358		 29,997
157,361
187,358		 6,626
158,079
164,705

Page 21