RewSter Conwy No. 2994706 Rere0 awityNo. l(bM035 THE SOU1"HGATE SPORTS AND LEISURE TRUST (A MPY Ilmited by guarantee aDd 00¢ having a share ¢Apltal) ANNUAL RF.PORT AND FIIYANCIAL STATEMENTS FOR THE YLIR ENDED 31 DECEMBER 2020
coNrENTS Page R¢port of t[te and directors llldependent examiti&3 rei Stst¢ment of fiDallcial activities (and tti¢oti* a1 expenditurr account) Balance sheet Notes to thc financial stst¢tD¢Dts 10-16
CHAIRNIANIS REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 It has been difficutt year for IM)th oftr TrLst's main sowc¢s of incomtt Formwh of the >r4r the Southgate Ho¢k¢y Cenire h&8 en closed or operniing in a very restrict¢d way due lo Covi(L19. As a resuli the tsugt agre ty waive the rent from the Centse sinee the ¢nd of July. In addttsots. with thc tM)sty)nement of the t£tMlon Marathon, sponsorship inco1 rcceived thc tnarathon Gold Bonus Scheme for 2020 been wricd forward illto 2021 whcn it is hop¢d the next mardthun will tskc place. although we would expect this to result in a slightly lower level or sponsorship when the 2021 marathon is nm. Thc trust hLS continLd ty receive sotne doDatiOts for th¢ Pre6ident's Fund and for the P¢rfomwKe Acad¢my and has a websiie to publicise the tiviti¢S of the tsusi and to enable online donaiions to be rnade. As pan of our Cost maDagenw procethm. thanks the efforts of both the forn TrTer and our current Treasurer we have successfvlly cliimed the appt(Ipriatr Covid-19 related government grants hs well as b¢n¢fitting from the governm¢nVs bu5inc&s rat¢s IK•liday schctne. Tr gT8nts Ve bn passed w Southgate Hockey Centre in its rol¢ as thc main op¢ratin8 compaDy. ri was not Possible to Add io the pi¢h replaeemenl fund during the year, a lower Icvel of use, the life of the pitch C&ets may be lollger. A decision was also made earlier itt the pr to instsll CCTV at the Centre. FortyJnat¢ly this w85 competcd just bcfore the first in March WMI was extrewniy us¢ful in allowing u$ to monitor security of the sit¢ remotely. At ihr board mcetin8 ill J4nu&ry 2020 w¢ Wr pleas to •ppoini three n¢w dITtorS. At the AGM in July. Keith Lcwi5. our long ¥¢at)ding Tr¢&wTer reiired from the board and Htswd Clayden w&$ p1n1¢d our new Trwurer. Our thanks 80 to Kcith for his outstatKlin8 contributt'ort th the TnBt. H¢ Joud the board in 1996 and had bee Trurer sitt¢¢ 200S. Despit¢ the re8triction8, our a¢iiviiie8 contirn% w focus on the lo¢•] ¢0MJty. When p¢rnittted South8ate Hk¢Y Centre Conlinues to offrr free or reduced rate u818e of their pitche$ to the locaj school$ aod after-school clubs, although the abilty to do this in 2020 was severely restricted by the pfiNkrn'e. Th¢ PerfOrn¢t Aethy ¢ontinue8 to ItctiOn and we look fotivard to 8TowJng this furthry in 2021. The numbers at South8atc Hockcy Club, the mlin user of the f&ciliry. wntinuc h) incrcw. "Back to Hockey" targ¢teil at the 20 to 50 agc group has prodUd a good Dumb¢r of new mcmbers r¢suiting in Jdth'tioDal meLs t¢arns, which includes fHthcrs and son8 playing in the same t¢8m. whilst junior Hockey wntinueB trj thn"ve. Whilst thc •ctivitte5 are larB¢ly s¢]f.fi*, th¢ ttitst collliDues to swrt ¢othD8 aNI oulreath to l(Kai sclKJol$ •where appropriate. The continu¢d impact of Covid-19 on future "V1¢S al e4rnw8S IS still d¢ll1t to asccrtain but with the roadrllap for the openirtg-up of Rstriction5, includin8 for ¢1th 5POrts and training xtivitics. there is a greater degree of clarity than there w&8 a year a80. Flowrver, the of thc South8ate Hock¢y Centre ntInue to be werely reslrictcd into 2021. thc appropriate fety mcasures were put in place in early 2020 saft8uard staff and users and Continue in to bc in pl¥e. The Trustres. Dire¢tOTS 8j will ¢ontinue to CardullY1+r th¢ revell and costs ofth¢ Tn and will take any appropriate acts"OTLS as ihe Situation becorncs clearer. A J Stt Kmgbt 5 July 2021
RIPORT OF THE TRUSTEES AND DIREcfoRS for the year ended 31 Deetmber 2020 Legal statss The comp8ny is governed by its alld Articks of A$80¢iOtion and is a ¢onyny ]imit¢d by guarantee and not having a share capital Registered Cornpany No. 2994706 Regi$tered Charity No. 1044035 AlJnJ Ind obJ¢¢dv48 Tb¢ objectives for whi¢h the company is eutablisFd are.. (a) To promote the ben¢fii of the iDthabilaDts of Southw¢ al the Surrou #rea (the are4 of benefit), schools and educational estsbltsbniefjty clubs and other community groups in the area of FDefit without distinctiott of %x. g¢xual 0ricntst1o w or of litiCaL T¢ligious or other OPiDions" (bl By asSlatIng tOgker the said tnh8bitsnts the volw otfrrtror8lnll10s to advatte¢ ryjucation; and (c) To provide aod io th¢ provi8ioD of ar leiSwe-ti 0¢wlOn with the obj¢¢t of in¥rovinB th¢ ¢onditions of life of th¢ said inbabitants. Pollcles adopted to projnots the Jty objectfves In pro0)8 its Aims and objextivas the comptny has in p)wer. (81 To advan ¢ducati¢)ll and awwene48 with re8ard to tl bUfits of prticipAtiOn Lll SP)rttD8 activities and to ¢ticoura8e &ppropriBt¢ trainiti8 iti thM¢ (b) To en¢owag¢ inhabitaDts of th¢ al of bettefit ith 8¢DmL aThl iti ptirtieul•T thos¢ th by rewo of youth, age or oth¢r CirCun18t)¢¢8, b¥ve need of su¢b rn¢Ourngellt to ptirticipa in TreAtion. srffttin8 And other leisur time aeiivitie8 (c) To provide and supply the m¢4N such srAMting all1 health activiiies ll•y thke plaee, iwluding the lairyng out and instsllation of Srts areas and the ts¢M, alterntio4 eXtelOn or cr(10n of pgvtlioD8 or othLY buildin85 and matlenanCe of thc s (d) To pmvide or assist in providm8 eoa¢biD8 and traintll8 iti SWtin8 other allied leiswe or beAIth activities (e) To r&is¢ fimds, Putth or l¢w property, invite aTh4 receive contnThution4 mbxriptions. th)n&tiow. grnnts aTrJ oihcT property, wh¢ther subje¢t to any Special truBts or w provithd that the company Jlwll not at any titT und¢nth 8ny penn[ trading tiVIty. Restrictto actlvltle• The company's objecti 8hall not extend to th¢ trgulatioa of rdatiotis aDd ernploy¢r5 or orgaTLlsatio of wothr8. and or88Disalions or ¢mpkTryet&
REPORT OF THE TRUSTEES AND DIREcfoiL ror tbe year ended 31 December 21120 IntInued} ED8urlng oir work delivers o W¢ tEview our obJ"ectivts and adivitias eath year. This review look8 al wbat we a¢hi¢ved and the of our work in ttK previou$ 12 months. The review helps us to eLq]re that our aims, objectives and activities remain focussed our stated purtaws. We bavc tcferrryj ldance conts11 in t]K Clwity Commissioll's 8¢D¢ral guida¢ on public when revicwiDg our ainks and objectives Yj in plantiin8 our fUtt gctivities. In particular. thc ttustees ¢OTL%ider how planned activitic5 will contnThute to the ain and Objectiv they have seL In tkn"s respecL we have ¢omplied witb the Duty in Section 4 of the 2(M Charitie5 Act to have duc regard to 8uidanee published by the Charity Commission. Charlty Truittu •nd Dtreeto AJ Scott Kni8ht (Ch8irnjI KM Lewis (Tre8surer- Signed 7th July 220) CHJ Clayd¢n rfrca8urer- apw>inted 20th J8nuary2020) NC Hod8SOn JC Seymour MJ M¢Donnell D l.loyd-WilltatL8 (appointed 20th J8nuary 2020) WP Hargrove (gppoitid 20th January 2020) Advlgorg aThd other releva#t Bwther8 Inve8tnwnt mana8¢r Independent exAminer . National W¢8tini Bank pk - T Muny¥d Orynl¥#do The B(Mrd oJMana8emeKI The bu8in¢8s of the company is by the Board of M8nagcn%nt whtch of the TnJstee$ and Duectoty of the company. No person sh1 servc &$ a nmber of th¢ Board or otlknvsie acl on bebaif of thc company unlc5s that pcr50n shall b¢ admitted &% a mcmber of the coxwy. The Board st[ consis( of llot1¢58 than five persoN Th)1 llre than ten of whi¢h iwo Board members shall be oppointed by the Board ty be Chairn)&D and Trea8ur¢r. Ouc of the etsLt¢d Bow)1 u¥y b¢ appoitited by th¢ Board as Vice Cha]"rrn4n if the Boatd sb411 $0 Molve. The Board m•y appoint a MaDag¢r of the ¢ompaDy. mlly C{ tw to three memtrws to the Board and may delegate any of its powen to corniittees consistsn8 of such board rllemkn tO8cther with such othct persons as li shall think fil. No rtrrnber of thc Board of Matkagcment shall be aptKJtntrd to anyoffice of the conw paid by 5alaryor fe¢$ or rcceive any remuneration or other benefit from the c4Kt¥w. EIectionprocedts At the At)nual Gener81 Meeting L¥ch yE8r, one thxrd of tr clected Board cxc¢pt th¢ Cbairnw Ind the Ticasurcr, slmll tI[¢ fromoffice a1 otc cligibl¢ for tc<leclim The of the Board to retire sh1 be tho who have been long¢st in office since their last elLYtion or3ppoiTrttM)L E&¢h Mernr of the company may ttimiDatC UDdidatc as a Board aTrJ be sent the regi'stered officc of the ¢on4Mny on or Wore datc as the B08rd may stspui¥*. Candidc5 necd noi be
REPORT OF THE TRUSTEES AND DIREORs For the year ended 31 December 2021) (¢onthiued) Revlew of letlviti As outlined in the Chainw's repory it h#8 been a difficult year for the Con4Y with of its sowces ofitto)me restricted by the panknic. As a result, no filrther collthkntiODS to the sinking fulxl tre possible thm.ng the year. However, the TnLSt ¢olltinu&s to matntain and where TMMible improve the faeilitits at TTeJJt Park and during 2020 ccrv was itistall at tbe Southg8te Hockey Cthtr¢. During 2020 woTk was also ¢ollyleted to the C hwl its ind4t rsUppfy tHther than being billed by the ow]ers of our freehold Berkel¢y Homes. Discussions Lyjntinue with BeTkelry How aTMI EDfield BIKou8h COU1] on •TT8Dgw for the ongoin8 FlrtnCI r¢vlew The eompaty$ fu781 stst¢rnts for the year r¢fiect the of the activities UTMI Dut?ll6r 2020, due to Coviik19 the company's SOU¢8 of wexe r¢stridrt leh resutted in a Sm] loss for the yeer, However. the company maintai$ si8nifi¢4nt rarV&S aTrJ the end of thc year th¢ Tnle¢S and Dir¢ctotE are tisfied that the reserves atld cash aThl investment i)ositioD of the conwany Irc adequat¢ to en&ble to ¢¢mwany to ¢oniinuc io fulfil its Jinks and objedives. lryl¢ed, It was IM)1 that despite the ecOlm]r Tn4iact of the pandemic. the value of the ¢OTnpanS inVestnl portfolio gettllY ro8¢ slightly durin8 th¢ y¢ar. The m&in areas of ¢oncem rclat¢ to the titneycal¢ for replacement of c¢rtain asm which will ne¢d be reas5¢5s a¢cordm8 to the roadmap ftsr reopening thc Centre aDd the retsted rt¢overy ofthe ¢omp•tys reveoues. Cov1&19 The imp¢ of Covid.19 on futtre eorDiDgs is still difficult to •¥7 bw with IkdOwn rictiOAS bein8 eased and the pitches and Club)uSe at the Centre slowly rdwntng to Be. 1¢ is foreseen that revenues will ulY start to irtereL%e from the middle of 2021. However, the eoTfW ntinS to carefilY llThitor its revettue streAms nd will ¢ontinur to mana8e Lts cost ac¢ordin8]y as r¢quired on an owing bls. RI8k mnAiémtht The Board hv¢ assessed the major ri8ks '¢b the ¢Prity is in Ixrtiththose related to t operations 8nd fEn3nc¢B of the eA)mp8ny And are gatisfied S9 in plxe to rniti8gle our ¢xp[re to the mRjor ri8k& Investment Pollry The company owttq the I¢¥8dld pmwy from which it opffthe8 Im a 125 year lease which expires in 2127. Thr Board believes that the market valu¢ of this ptoperty is likely to b¢ higher than the ealrying value, glven that th¢ barity has held the prom for & number of ye•¥ aThJ th¢ ward trend of property pri¢es over thatperiod. Long t¢rn] inv¢5tmcnts are rnadc in th¢ stk llwkct throu8b invesuneni maDa8ers. SuTrlus ush funds arc plac¢iY ¢)n interest. bearing d¢posit&
REPORT OF THE TRUSTEES AND DIRECTORS for the year endtd 31 De¢ember 2020 (t4)ntinued) Reserv Pollry Th¢ Board aims to keep 4 modest level of Teserw sllffici¢nt in tbetr vi¢w to eSU[e that the Trust C ¢ontinue to operate for a re&sonable pertod slKJuld levels of volunl¥ry iTKome b¢me iSuffiCIent to swort ongoing commitrncDts. This is ¢alculated to be £IOO.O(K). The unrestrieted funds not rePr¢%ted by fixed &sscts or designatrd tiinds amounted to £130,218 ai 31 December 2020 (31 Dccember 2019.. £116.683) which is in line with policy. The Board bas reviewed thc de8ignatcd fimds ond ]% satisficd that thry are consist¢rti with the needs of the Trust. The poIi¢y is reviewied UallY by th¢ company. Ststement of dlrectors, r¢gpoAsAbllltl The directors are respotksible forpreparin8 the DiTectorf R¢port arwj the fintyial slatements fftn accordanee with applicable law and regulalions. directors hav¢ ¢lKkd to prep4T¢ the finwKih] stst¢rnents in thtKQTdIC with Unltcd KiD8dom Oenernlly A¢¢epted A¢couniirtB Pra¢tice (UK Aecounting Starthirds and 4ppliublc taw). Utsd¢r ¢ornpany law, the dircctors must rtot 8pprov¢ the finan¢ial 8tatcments ¢$$ th¢y arc satisfie4J Iky give a tru¢ and fair view of the SI of the affairs of the cort2pany and of ihe profit OT loss of the cornpany for period. In preparing tIKse financial stat¢mcnLs thc dircctors are reuqir¢d to.. ¥¢l¢ct suitable a¢¢ouniing poli¢i¢8 8lld thcn appty consistentty. makc jUd¢nts and cslimat¢s that arc reasonable and prttht,. 8t&te whdher thc policies adopted are ID rd with th¢ Clwities SORP 2015 (FRS 102) and wrytb applieablc IIK accountin8 $10ndd& $ubje¢t lo any nwt¢rid disclo8ed and ¢xplainrA in the finanGial statements,. prepAr¢ the financia] 8iai¢rnents on the ]8 b&8ii unless 1¢ is iMppropriat¢ to preswne that the ¢on]pany will continue iti business Th¢ d¢¢tOrS art responsible for keep odequ&t¢ accountsn8 rxords that ar¢ wffi¢icnt to SI and ¢xplain th¢ ¢¢)Mpan5 ITansactions and disclos¢ with Te&8onablc accwacy ai any linx the financial position of the c(Jmpany and cnable thcm io ¢nsure th&1 th¢ financial ststcmcnts comply the Companies Act 2CQ6. Thcy are also reipon5ible for %afc8uardin8 the ets of th¢ ¢OrnP8Dy and hen¢e for takin8 te880n•blc 8t¢ps for the pr¢vention and dctcction of rraud and oth¢t irre8ularities. Exemptlon from Audlt The charithble MpanY is exempted from tk requirerlts foran gudii under the pmvi8iong of the CompAnies Act 2(K)6. Small tompny provlsloDI This report has becn prepared in accordance with the wiai provisio1 relating to MpAnIeS 5ubje¢t to the 8mll companies rc8im¢ thIPart 15 of th¢ Companies Act 2LM)6. li approv by the board 5 July 2021 and siBtted on its behalf. CHJ Clayden Trustee Director R¢gi8lered offic¢.. Southgate.8ports atsd L£i5ure T[$t Southg&tt Hock¢y CentrE Trent Park Hertfordshir¢ EN4 OPS
INDEPENDENT EXAMINER'S REPORT TO THE DIREcfoRS ON THE UNAUDrrED ACCOUNTS OF THE SOUTHGATE SPORTS AI¥D LEISURE TRUST I report on the filla1 SW¢rnents of The Southgat¢ Sports & I£Asure Trust ("the chariW) for the year ¢nd¢d 31 December 2020. which are set out on pages 8 to 16. Respective responsibiliiies of trnStees aDd ellmkntr The tnjstees (who are also th¢ dire£tsts of the company for the purtK)ses of company law) are responsible for the preparntion of the finan¢ial sthtallents. Th¢ trugtee5 coLsider that an audit is not requir for thts year undw s¢GtiOD 144(2) of the ChaTiti&8 Aa 2011 (the 2011 Aa) and an mdependent exami0 is needed. HY4vin8 satisfied myself that the Chariry is not subject to audit utider npanY law and is eligible for indep¢ndent examinatio it is my respoll1ty to: exomtn¢ the financial stJt¢m¢nts under sethion 145 of the 2011 A¢¢" follow the proc¢dure5 laid down in the General Dir¢¢tions given by the Charity Commission er wtion 145(5)(b) of th¢ 2011 Act. and to State wh¢ther particular D]aNers have ¢om¢ to my anenti¢)n. Basls oflndependent examln¢r'$ report My examinauon was carried out in accordanc¢ with the General Directions given by the Charity COMMI10n. An ¢xaminaiion includes a review of the accounting records kept by the charity and a eompaTiSOO of the financiai statements prtsented with thos¢ records. li also includes coLsiderntion of any unusual items or disclosur¢5 in the fllwjcial ststements, and seeking explanations from you as trustees concernin8 any such matters. The procedures undertaken do not provide all the eviden¢e that would be required in an audit and ¢orts¢quently no opiniort is given a8 to wh¢th¢r th¢ finaDcial sthtem¢nts present a'true and fair view. and the report ig limtted to those matter5 3¢¢ the statement below. Indep¢ndent examlDer'• 1£tl In conn¢¢tion with my examinatio DO mati¢r has ¢orne to my atterrtion.. {1) which 8iYe8 me re&sonabl¢ U5¢ to beli¢ve that in aDy n)awiaI resm the r4uir¢m¢nts: io keep accountin8 record$ in accordance with section 386 of th¢ Companies Act 2006. 8nd to prepare fllwicial statements which a¢¢ord with the accounting records. comply with the #cwuntin8 requirernents of the Companies A¢t 2006 and with the m¢thods and principles of th¢ Statement of RKomm¢nded Prlldicc.. A0)¢18 and RelIn8 by Clwiiies bav¢ not been or {2} to Wht iti my Opinio attention should be drnwTr in order to enabk a proper understandin8 of the financial statements to be reacbed. T Munyard 140 Wood Street Barn¢t EN5 4DA Date 5th Ju]y 221
STATEMENT OF FINANCtAL ACTivfnL8 (Ind IDCOll)e and expeDdl¢t a¢¢oum¢) for the year ellded 31 December 2020 Note Unrestricted ReBtrieted Funds TotAI 2020 Tfj 2019 In¢oD Donatlons and legad¢x Incoll from charltable actlvldes: Rent rcceivable InveJtment 6J99 6.538 12.937 26.502 34.173 7.977 34.173 7.977 57,562 8.115 To¢81 Incon 48.549 6.538 55.087 92.179 Expendlture Cost of Tblng fundi: Fundraising Ld publicity Exp¢ndltthrt on chrl¢able ctlvltks: Direci Charitsble Expenditure 1,650 (31.608) 140.183) (71,791) 97.933 Total expendlture (31,608) (40.183) (71.791) 99,583 Net gAIno0$s¢S) on l•ve8tmeA Re4liscd {108s) on InvtMent a58¢ts Unre41ised gain on inyesthxnt a88ets (434) 9.878 (434) 9,878 {317) 45.103 Net I¢(¢xpeTrdltUre) and net DveMent In furtdy for the yeAr 26J85 (33.645) 17260) 37.382 Re¢oD¢lllgtlon of fvnds Tot#1 fund5 bTOU8ht fonvard 720275 344.463 1.064.738 1,027.356 Tot81 funds eArrled forward 746.660 310,818 £ 1.057,478 £ 1.064,7311 The sthternent of financial ]VitieS In¢hth all gaiw lossu recogni8ed in the y#r. All income and expenditure d¢rive from cotttaDUiD8 activities. The notes on pages It10 forni part of fi[wl81 ststements.
BALANCE SHEET As *t 31 December 2020 Not 31.12.21120 31.122019 FIXED Assrrs Tangible assets rnvestments 494.659 355,837 546.367 345,937 CURRF,NT ASSETS 850,490 892,304 DebtOTS Cash at bank aDd in hand io 4.988 216,620 5.279 171.765 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 221.608 177.044 (14,626) (4,6101 NET CURREwf ASSETS 206.982 172.434 TOTAL ASSETS LESS CURRENT LIABILITIES .057,478 1,064,738 NET ASSETS £ 1.057.478 £ 1,064,738 THE FUNDS OF THE CHARITY Unrestrictrd income Re5tri¢ted iftcome funds 14 14 746,660 310,818 720275 344,463 TOTAL CHARITY FUNDS £ 1.057,478 £ 1.064.738 Dlreetori, st4tements In aetordan¢e Twlth the Compaolu Acl 2006 (the Act) The dir¢ctoTr considcr that the company 15 etstiil¢d to ¢xemwion ftom Ihe requirn to b&ve Jn audit under the proirysions of 8.477 of the Companies Act 2(rf)6. Members have noi rcqwred the cornpany. under s.476 of th¢ Companieq Act 2006 to ohtsin an audit for the year end¢d 31 D¢¢¢mber 2020. The dkn[s acknOWlge thEir resporLsibiliti¢8 for ensurin8 that the company k¢eps accounting records which comply $.386 of the Conyies Act 2006 and pr¢paTing financ1 ststcments wfii¢h gJ'v¢ true and fair view of the 8¢ate of affair5 of the company &4 al 31 DecemE¢r 2020 and of its loss for the year then eTrlcd in ordanCe with 3.396 and which othetiwis¢ COrlY with the requirements of the kn relatin8 the financial 8tatemettts, $0 taT as applicable to the company. The financial statements which have been prep8r•J in accordattce with the special prowsions reJAun8 to companie5 subjeci thc 5m&ll ¢ornpanies regIn Part 15 of the cOnanieS Act 21116 were approved by the tmwd OD 5 July 2021 and are signed on its behalf. AJ Scott Km8bi CHJ Clayden Te3 and Dire¢tsTrrs The notes on page$ I16 forni part of these financJa] stalements.
NOTES TO THE FINAI¥CIAL ATEmElyTs for the year 31 Dttember 2020 ACCOUNTING POLICILS The principal a¢couDting p)licies adwe4 judgements kny of nliOn in the prepatation of the fiDclaI ststc1D are &% follows: Basls of aecountlng Staternent of Rttornnn PTactic¢ aPp"thIe to than.tits pr¢patin8 theiT accowits in ordanCe with the Financ1 R¢porting Standard applicabl¢ in the UK Republtc of Ireland (FRS 102) (effective l Janvary 2015)- (chariti SORP (FRS IIY2)). thc Financial Rwrtins Stsndard applicable in th¢ UK hnd R¢publiG of IrcJ&nd (FRS 1021 and the Cowies Aa 2. The fiTwieia] Ststennts are prep8r&1 in sierling and arc routktsa to the rrest£ The Southgat¢ Srnrts aud Leisw¢ n]erts the d¢fim"ts"on of • public benefii eMtty UTth FRS 102. Ass8 and liabilÈttes are initiatly rt¢wised at c(K# or tr8Ds&ction V&h uttleu odKTrvise statcd in the relevant a¢courth"ng wJli¢y Th)te(s). Golng eontern The ¢onJpany is a regi8tered cknityalld its activities •rt dryentht uwjn the fillbJin8 provided voluntarily by donors. sponsors and Brani i)ng brmlies. The finaD¢i statements bave been prepared on the 80in8 coneern basis on the 8roun& the dirtttyrs are eonfid¢nt thot suGh fill18 will e(Jntinue for th¢ for¢3¢eablc ture. CAsh flow it*temeTht As a 8th1 company. th¢ ¢ompw i• exe0W from the to PTothxe A cash flow 8tat¢m¢ttL Income The V¢ of regOWR8, iM)th itKom¢ oTrJ w¥ital• amiDg to the aM)w¥ny are only Ttrded in the Stakm¢nt of Financial Adivitics when it i$ Prudent and prxtiuble to do so. Any resouros which are 8ubJect to the sNti$f4¢tion of c¢rt•in c¢)nditiOA8 ar¢ FJD¢ reCOld until wllth'tions have b¢¢n meL Ineome received with specific re8tri¢ti(w as to its we by th¢ ¢owy are a110¢4tyJ to appropriate roBtn¢ted fijndg. All 8rant4 donation8 and voluntsry io¢om¢ are for 8rosJ wb¢n Tettivab Other e4bendltsre Expendinwe whicb is not of a capitsl nabJre is 51KFwll &8 a le of Tf50urccs in the Ststcmcnt of Financi81 AGtivitics. Su¢h ¢Apcnditurc incurrrd ID the fi1rthe of the compan$ choritsble objccts 18 treated a5 direct charithle ex11¢ and other cxpenditwe is sub4ivided bdwcen fjJnd ratsing alld publi¢iry Costs and 5UPPOrt costs appropriate. Arty ette eXlire frotD a Testrictyj fid i8 lOcated as an ouigoing resource of the fulld 10
NOTES TO THE FINANCIAL STATEMENrs for th¢ yar eDded 31 De¢etthr 202(1 ACCOUNTING POLICIES IcofATINUED) Ixed And depredtlon Fixed &5sets art capitslisf41 at cosL All itr1 over£2(Kl aTe capitalLqed. Depreciation is provided to write off th¢ ¢0& le&% esti[rAt ruidual valuo of all fixed asxts overtheir expected usefid lives as follow5.' Leasehold propety Pavilion Water borehole Pitches Fixtures. fittiDgB and eqlltpt over the tm of tb¢ le4se 50 years So years 10-20yews 5- 10 years Invetnnli Investments are stsd at nJarkd value. Unreali8eAI 8•iM or IosKs ID the form of mket value fluctyhtions are taken to thc Ststerncnt of Fina181 A¢tivities. Iniere8t on funds held on d¢posii is ill¢luded when rcceivabl¢ and the anw)unt cwj be rtwur¢d reliably by the charity, this is nornwlly up)n notific4tion of the inlerest paid or payable by the Bank. Fund a£¢ouTr¢ln8 Unrestricted fvnd$ are available to 4)cnd on activities thai fillther ony of the purp05e5 of charity. Desiwted funds are unrcstricted funds orth¢ ¢harity which the dIrKr8 h&ve d]ded at th¢ir dire¢lOn set 1sid¢ to use for a specific purpose. Re8tri¢ted fund8 tre dollations wbich the donor has specifi¢d thre to be 801ely u8ed for wllwj4TCI1 of the Tj.1 M)rk beiD8 undutskrn by th¢ TnL Debtors PrcpaynKnts are vald at tk Fwepaid ne¢ of afty tsJe discLMmts d C44h At bAnk aThd In band Cash at bank and c&qh in haThl iticltsd&4 e48h aThl short t¢rn? hIlY liqwd itivestits with a SIl matiLTity of three months or le88 from the date of acquisition or Openi of the de$1¢0 8imi]•r a¢wunL Credltor$ and pr•vIon• Creditt>rs 8t provisions 3r¢ r¢wgnised where the ctrwiry has a present obliB8tion rrw]tiDg from a pasi event that will probably ttsult in the trnlls of fiuJ¢ls to a third paty grMI the atnouni due to %ttl¢ the obligp4tioa can be measured or estim reliably. cr¢dIto provisions are nornlly re0)80d FinAllclAI InstrutneDts The (n1 only h85 financial a88ets and financiai liabiliti&s of a kTnd th8t quajify as basic financial instn]ments. B&Eic fllwicial IrtrUments gre initially reco1 at trdDsaction value and subsequently measured at their settlement v8lu¢ with the exception of bfink108ns wkn.ch are tty measur1 8t mortised c05t using the effective inter&8t meth.
NOTES TO THE FINANCIAL STATEMENTS l¢oDtinued) for tbe year eDded 31 Defember 2(1211 LEGAL STATUS OF THE TRusr The Trust is a conwany limit&J by gyarantce and b&% Sha capitsl wkn"¢h was inCort7tcd in England and Wales. The M¢Jnorandum of Asswiation statag the liabt]ity of is littuted to a 1UM contribution of £1 in the event that the company should b¢ wouod . DONATIONS AND LEGACIFS UArestrDrt¢d Restrlcted fuDd$ ruBds Total 2019 2020 Spon$oTsbip income Income from donors 5,860 20,642 26,502 6J99 J99 £ 6.538 6,538 £ 12,937 12.937 £ 20J9split 7.579 18.923 20.502 INVESTMENT INCOME Total 20211 Total 2019 finds nds Dividendg received from listed invullts Bank and other inler¢s¢ received 7.544 433 7.977 £ 7,579 536 8,115 433 7,977 £ 20J9spllt 8.115 8,lJ5 Fuf4DRAISING AND PUBLICITY Unrejtrfeted Ratrltted Tot1 2112 Tot1 2019 London tw&thon bottd5 1,650 20Jg.¥plit 1.650 1.650 DIRECT CHARITABLE EXPENDITURE U•restrkted Restricted fwid$ Total 2020 Tot#1 2019 CoachirtB fees Lease amortisati¢)n tkpreci8ti( Repairs and mainta)•n¢e Supp)rt costs 245 81 39,857 245 129 66,319 445 4.653 71.791 £ 17.090 129 63.621 2,558 14,535 97,933 26.462 445 4,653 31.608 £ 40.183 £ 2019 $plit 40.905 57.028 97.933 12
NOTES TO THE FINANCIAL STATEMENTS {RIne> for tbe ye¥r ended 31 December 21J20 NET INCOMEJ(EXPENDITURE) FOR THE YEAR 2020 2019 This is Statsj after cbaTW." Operating lea Depreciation end leasc amortisation 63,750 TANGIBLE FIXED ASSETS Pllcbes a v4At¢r boreboie Flxture4 fittings & equ5pment Les¢hokl property P#vilio TotAI COST At l January 2020 Additions DispobuI¥ At 31 December 2020 1&033 651966 I229.ICl 93.517 14.740 1.990,616 14.740 16,033 651.966 1.229,1 10¥,257 2.UU5.356 DEPRECIATTON At l January 2020 Disposals Char¥e for the ye4r At 31 Dember 2020 2.827 286238 1.067,218 87.966 1,444,249 129 2,956 13.OfKI 299.298 411,459 .115.677 4.800 92,766 66,44¥ 1.510,697 NET BOOK VALUE At 31 December 2020 13.077 £ 352.668 £ 113.423 £ 15.491 £ 494,659 At 31 Decernber 2019 13.206 £ 365.728 £ 161,882 £ 5.551 £ 546,367 IIYVES'I'MENTS- UK LIS'I'LD INVFSTMENTS 2(120 2019 Market value yi l January 2020 Additions at cost Dispos5 &1 market value Provision for increasc in valuc MaTket value at 31 DeCern 2020 345.937 2.100 (1,644} 9,444 355.837 £ 271,425 33.617 {3,8911 44.786 345.937 Inve$tsnents at hi¥foric C1 272,241 274.770 The UK listed 1nv¢stnts Nytfoiio is made up of UK fixed interest $to¢ks and equiti¢s. ail quotedllisted withtn the UK. AII investments are cwried al thetr fair •th. InvcstThts which TDth up over 5% of the value of th¢ portfolio are as follows.. 1.8W Bakn [nyt Tryst Pl¢. 25p Ordinary Sharf8 7,800 Pacific A&8ets TrLLt PIC- 12 If2p Ordinary Sharcs 1.8(M) Scottisb Mortgage knvestnnt Trl. 5p Ordinary Shares 150 SPDR Sen"cs TnLSt. W SI ETF 19,872 24.999 21.852 40,941 13
NOTES TO THE FINANCIAL STATEMENfs (conthiued) for the yelr eDded 31 December 20211 10. DEBTORS 2(1211 2(119 VAT recovernble Prwayrnellts Oth¢r debtors 757 3.31X) 931 4,988 £ 1.650 3,629 5.279 11. CREDITORS: AMOiJNtS FALLING DUE ITrITHIN ONE YEAR 2(120 21119 Rent in advance 3.648 3,648 925 Deferred Jncome Other creditors 2,432 8.546 14.626 £ 37 4.610 12. TAXATION The company is not liable for tsx on its fina181 acts"vits"e8 00 the that it 18 & re811 Clwity. 13. TRANSACTIOi%S WITH CONNECTED PERSONS li) No tn]stee received any remuneration or exp¢ns¢s duriD8 the ye8r uthTrview12019.. £Nil). lill In 2020 thc board approved that the preparation ofthe financial ¥c(Hmts of th¢ ryjmpany would now be performed by CHJ Asso¢igtes Lllnited, 8 COMpY of the T5[Br 1$ a ?j shareholder. CHJ Awciates Limited received fe¢8 of £736 in of this work. There wu¢ no otkn transa¢uon8 with nn¢edPersonS durin8 the Yr. 14. FUNDS Moven*nt Moveme•t BAl8n¢e JI.12.2O211 01.012020 IDeoml•t Tr•ttife RESTRicfED FUNDS Trent Park fid Coaehin8 fund R¢plaCetnI of 09gets Juniors fund WKII MemoTral fu1 Robert Wat8on award President's Fund Perforniance Academy Floodlight rnainten#tt¢e 324.537 825 5,133 lJ23 (39,938) 284.599 825 5,133 .523 3,090 2.386 9.586 3.448 228 310,818 2J86 4,836 1.905 228 344.463 4.750 1.788 (245) 6,538 (40.183) IJNRF.gTRlfTED FtJNDS Desi8nuted fund5 Rq)lacement of assets dscape maintenAn Building maintenance Freehold Gencral knid- fixed 0&8ets Gelleral fid 356.762 12.5 125 7,842 (2,791) 371,257 15.000 15,000 5,125 210.060 130.218 746,660 2.5 25 5.125 221,830 116.683 720275 {11.770) (17.047) {3 1.608) 35582 48549 (5.(rfKI) £ 1.064.738 £ 55,087 (£ 71.791) £ 9.444 £ 1,057,478 14
NOTES TO THE FINANCIAL sfATEMEI¥TS (comtitiued) for the year ended 31 December 21120 14. FUNDS {coiYfiNUED) The Trent Park fjjlld was established for tr Constnlion and d¢veloptint of a new Spo facility illcorporating two floodlight artific1 ttrfp1t¢ grass pitches and a pavilion. s¢IfiC fund]ng for this pmject was e1ved from the tttery Sp)rts Fun(L the Fow¥Jation for srtand the Arts Middlesex University. The Coacbing fund h&s ¢slablished a Iwk¢y Cr1¥ PrOgran) for the benefit of local connnity. The fijnd for ReplacemEnt of Assets (the'S]nkwg Fund.) esrablisheA in ots to fimnce the renewal of $hort¢r life Essets su¢h &$ the artificial rurfpttch Car Sornc of the fuThJ is rrrcived from donors and res¢n"c The Jw)iors' fund Tepres¢nts ¢Jonations receiv in OTder to provide hthy oppornmitits foT peopk. 8adlypa5sed away in February 2014. Th¢ Robert Watson awavd is knTwtM> recei iu rnenKJry of Robert Watson to be spent Oll 8n #Dnuai award. The President's FUTKI Ipreviously also knriwn as the JFW Initiative) is thDation8 rec¢ived for running hockey tew. Th¢ P¢rforn]ance Academy is donatio rcceRvryJ for a knkey c{whi prograMrt. 1.he Freehold fimd is Twiey donated provide for any firtwe purch of thE freehold TTeDt P Th¢ Flood]ight miintenartt fimd is don1009 r¢¢¢ivryl forthe 8j replaCeD1 of fioodlisbts. The dir¢¢tors hthv¢ alw dJi¢d fiumb for futtre la aDd PtIdIng nlt¢DanCe expense8. Fund balan¢¢8 4¢ 31 2020 #re represeoted 98 folloK.' Net c•rreDt TAm¥ibie lllvutllnts Olbllltl#) Totil RESTRicfED FUNDS Trent Park fvnd C.oBching fimd Rcplacernit of &8s¢ts Juniors. fund WKH Men181 fill Robcrt Wats¢)n av/ard Pwident'8 Fund Performance Academy Floodli8ht maintenat)c¢ 284599 284.599 825 5,133 1,523 3,090 2,386 9.586 3.4411 228 310.818 825 5.133 1.523 2.386 9,586 3,448 228 26219 284JY) UNFESTRICTED FUNDS Desigted fw)d5 RL¥lacemcnt of asscts IAn(L8cape tnaintenance Building nIntell Fr¢chold General fimd 355.837 15,420 12,5(N) 12,500 5,125 135.218 180,763 371.257 12,500 12,500 5.125 345,278 746,660 210.060 210.060 355,837 494.659 £ 355.837 £ 206.9x2 £ 1.057.478 15
NOTES TO TUE FINANCIAL STATEMEIYTS (¢ontiDu¢d) for the yrar ded 31 Detember 2020 IS. COMPARATIVE FUNDS SPI Total 2019 Incon Dottatlons and le%acles Income from chrllble led1¢. Rent receivable Investment Ineom¢ 7579 18,923 26.502 57562 8.115 57.562 8,115 Tot•] Income 73256 18.923 92.179 Expendlture Cost of raising tundl: Fundrdisin8 and publiciry Exp¢Ddlture ott charltable aetlvttlu: Direct Choritsbl¢ Expcnditur¢ {1.650) (1,650) {40.WS) (57.028) (97.933) Totll expendlture (42.5SS) (57,028) (99,583) Net 881nlI055CI) on InveslmeDts Realised (loss) on inYe9tment 8ssets unall8¢d gain on investment JS5ets (317) 45.103 (317) 45,103 Net Imtorn¢l{expendltsr¢) and Aet nw¢mem¢ In fvAd• for the yr 75.487 {38,105) 37.382 RetOD¢lll•tlt)n of fund• TO funds brought forw•rd 644.788 382,568 1.027.356 Total funds carrled fonv•nl 720275 £ 344.463 £ 1,064.738 16