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2021-06-30-accounts

Registered in England Company No 02953096 Charity No 1062217

TAVERHAM RECREATIONAL FACILITIES LIMITED

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

TAVERHAM RECREATIONAL FACILITIES LIMITED

CONTENTS

Page
Reference and administrative details 1
Trustees' report 2 - 5
Independent examiners report 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 19

TAVERHAM RECREATIONAL FACILITIES LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2021

TRUSTEES

P Wright - Chairman J Glenn M C Brine N A Colman (resigned 13 May 2021) M Egleton J Castlo-Hall L Cousins

SECRETARY Mrs J Glenn COMPANY NUMBER 02953096 CHARITY NUMBER 1062217 REGISTERED OFFICE Willow Farmhouse The Green Old Buckenham Attleborough NR17 1RG KEY MANAGEMENT PERSONNEL A Marr (to 31 August 2020) J Marr (from 1 September 2020) INDEPENDENT EXAMINERS Price Bailey LLP Chartered Accountants Anglia House 6 Central Avenue St Andrews Business Park Thorpe St Andrew Norwich NR7 0HR

BANKERS

Lloyds Bank Gentleman’s Walk Norwich

Page 1

TAVERHAM RECREATIONAL FACILITIES LIMITED

TRUSTEES’ REPORT (incorporating the directors’ report) FOR THE YEAR ENDED 30 JUNE 2021

The Board of Trustees present their annual report together with the financial statements for the year ended 30 June 2021.

Structure, Governance and Management

Governing document

Taverham Recreational Facilities Limited is a charitable company limited by guarantee, incorporated on 27 July 1994 and registered as a charity on 6 May 1997. The charitable company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. At 30 June 2021 there were 11 such members (2020: 11), drawn from Broadland Hockey Club, Norwich City Hockey Club, Taverham High School and Taverham Parish Council.

Trustees

The trustees are, for the purposes of the Companies Acts, directors of the charitable company.

The trustees who served throughout the year were as follows:

P Wright – Chairman J Glenn M C Brine N A Colman (resigned 13 May 2021) M Egleton J Castlo-Hall L Cousins

Recruitment and appointment

The total number of Board Members shall not be less than 3 and not more than 11. The charitable company may from time to time increase or decrease the number of Board Members by appointment at General Meetings by the Members. At each Annual General Meeting of the company one third of the Elected Members of the Board being those who have been longest in office since their last election shall retire from office. An elected member shall be eligible for re-election unless he has served on the Board for a continuous period of nine year or more (or in the case of an Elected Member who at the expiry of that continuous period of nine years holds the office of Chairman or Vice-Chairman a continuous period of twelve years or more) and unless her has reached the age of 70 years.

The trustees who will retire by rotation are L Cousins and J Castlo-Hall who, being eligible, offer themselves for reelection.

Risk management

The trustees have during the year reviewed the major risks to which the charitable company is exposed and have established systems to mitigate those risks identified not already covered by the charitable company’s existing Risk Management Strategies and Controls.

A complete review of insurance cover is carried out periodically. A detailed assessment of the risks from fire, food safety and operational risk is regularly carried out and management of the risks identified implemented.

Related parties

The charitable company has a close relationship with Broadland Hockey Club, Norwich City Hockey Club and Taverham High School, all of which nominate trustees. A summary of transactions with those parties is set out in note 15 to the financial statements.

Page 2

TAVERHAM RECREATIONAL FACILITIES LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

Objectives and activities

The charitable company’s objective, and principal activity, is the provision of facilities for recreational or other leisure-time occupations for persons of Taverham, Norfolk, which is achieved by the provision of sports facilities, in particular the running of artificial hockey pitches and sports pavilion.

The sports ground is leased from Taverham Parish Council at a peppercorn rent per annum if demanded by the council.

The facilities are available for hire by any individual or organisation in accordance with the standard hiring agreement and scale of charges adopted for the year. It is intended that the scale of charges be sufficient to generate enough income to meet all expenditure incurred in providing the facilities.

The trustees confirm they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commissions’ guidance on public benefit, “Charities and Public Benefit”. Taverham Recreational Facilities Limited’s charitable purpose is enshrined in its objectives and activities.

Summary of Achievements

The facilities owned by Taverham Recreation Facilities (TRF) continue to be very well used by both the Hockey Clubs and two adjoining schools.

Whist the national lockdowns have meant that the facilities have been closed for periods in line with government guidelines once restrictions were lifted normal use of the outdoor facilities has resumed. TRF has followed guidance from England Hockey during this period and indoor facilities have remained closed.

Restrictions permitting, staff from the adjoining school take advantage of the large meeting space in the pavilion and the PE department use the changing rooms and hockey pitches. A second local school also uses the H2O hockey pitch. During the evenings and at weekends, throughout the year, full use is made of the indoor and outdoor facilities. Thus TRF fulfils its aims of supporting education and leisure within the Taverham area

The TRF board of Directors have met regularly via Zoom to ensure that communication between all users is maintained particularly in light of the changing regulations regarding use of the facilities. The Directors have considered carefully how the government guidelines should be followed and how the facilities can be opened in a way that keeps users safe. This has been communicated to all of the users on a regular basis. The usual issues to do with facility maintenance and arrangements for facility use and hire, have also been quickly and effectively dealt with.

The Committee is continuing to assess the future needs for improved facilities and plan for future costs. A major and long overdue improvement to the car park has been planned for the summer of 2021.

Directors will continue to review the finances and hire charges to ensure that sufficient funds will be available for future developments.

The board of Directors has remained the same during the year. The addition of two new Directors in the previous year has been very successful in terms of buildings and maintenance and promotion. A number of improvements to the facilities including redecoration and re-carpeting of the Pavilion and new furniture and lighting ensure that the standard of the facilities is maintained at the highest level possible to address the needs of current and future users.

We are once again indebted to our Site Manager, Ady Marr, and to the bar and catering staff who work with him. Finally our thanks to the Directors, for their time and commitment to TRF.

Financial review

The financial statements are set out on pages 7 to 19. Total income for the year amounted to £84,868 (2020: £110,986) and total expenditure amounted to £96,187 (2020: £100,043).

Income from the hire of the pitch amounted to £32,913 (2020: £47,984) with costs of £32,565 (2020: £29,588) giving a surplus of £348 (2020: £18,396).

Page 3

TAVERHAM RECREATIONAL FACILITIES LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

Financial review (continued)

Income of £21,475 (2020: £25,201) was received for the year in respect of rent of the pavilion and catering income, with associated costs of £51,635 (2020: £54,487), giving a deficit of £30,160 (2020: £29,286). The main reason for the deficits arising on these activities is deprecation on fixed assets.

Bar income amounted to £2,705 (2020: £12,770) with costs of £11,987 (2020: £15,968) giving a deficit of £9,282 (2020: £586) for the year.

Government grants of £27,757 (2020: £25,000) were received in the year, in response to the COVID-19 pandemic.

Reserves policy

The trustees have decided to hold sufficient unrestricted reserves to meet one year’s charitable revenue expenditure and to build reserves to meet the increasing costs of the maintenance and repair of the hockey pitch.

In addition, given their plans for future years the trustees have ring fenced £25,000 of unrestricted funds to support the future development of facilities.

The unrestricted general fund balance at the year end was £261,908 (2020: £255,115) and included within this are liquid funds of £115,773 (2020: £102,716) (defined as unrestricted funds excluding tangible fixed assets and long term debt). The trustees believe this level of reserves is reasonable given the policy outlined above.

The restricted fund balance was £523,148 (2020: £541,260) representing grants and donations raised towards the cost of the pitches and pavilion. This will be written off over the life of the assets.

Future Developments

TRF Ltd will approach the future with a sound financial base with a proven business model but also needs to review the direction and management for the future particularly in terms of the future renewal of the pitches.

Peter Wright continues to take the role of Chairman and together with the directors, continues to review the structure and responsibilities of individual members to meet the future prepared for change and modification to fit the needs of the organisation.

In the coming years, TRF will need to relay the two pitches and therefore, going forwards, the focus will be around raising sufficient funds to be able to undertake this work. The directors will also continue to monitor the facilities and the environment that it operates in to ensure the Organisation is able to respond to any other challenges.

Funds held as a custodian on behalf of others

No funds are held as custodian trustee on behalf of others.

Page 4

TAVERHAM RECREATIONAL FACILITIES LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

Trustees’ responsibilities statement

The trustees (who are also directors of Taverham Recreational Facilities Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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

Small Companies Note

In preparing this report, the trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the trustees and signed on their behalf.

…………………………………..

Peter Wright (Feb 23, 2022, 6:25pm) Mr P J Wright Chairman 23 Feb 2022 Date:

Page 5

TAVERHAM RECREATIONAL FACILITIES LIMITED

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF TAVERHAM RECREATIONAL FACILITIES LIMITED

I report to the charity trustees on my examination of the accounts of the company for the year ended 30 June 2021 which are set out on pages 7 to 19.

Responsibilities and basis of report

As the charity trustees of the company (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 company 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 company’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

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

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

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.

Helena Wilkinson FCA DChA

Price Bailey LLP Chartered Accountants

Anglia House, 6 Central Avenue St Andrews Business Park Thorpe St Andrew Norwich NR7 0HR

Date: 2 March 2022

Page 6

TAVERHAM RECREATIONAL FACILITIES LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2021

Unrestricted Restricted
Notes
funds
funds
£
£
INCOME
Income from other trading activities:
Bar income
2,705
-
Income from charitable activities:
Hire of facilities – pitch
32,913
-
Rental income – pavilion
19,000
-
Catering income
2,475
-
Investment income
18
-
Other Income (COVID business rates grant and CJRS)
27,757
-
_
________
TOTAL INCOME
84,868
-
__
_
EXPENDITURE
Costs of raising funds:_
Bar expenditure
3
11,987
-
Expenditure on charitable activities
3
66,088
18,112
_____
_
TOTAL EXPENDITURE
78,075
18,112
_
_
NET INCOME/(EXPENDITURE) AND
NET MOVEMENT FOR THE YEAR
6,793
(18,112)
RECONCILIATION OF FUNDS
Total funds brought forward
255,115
541,260
_
__
TOTAL FUNDS CARRIED FORWARD
13
261,908
523,148

 Total
funds
2021
£
2,705
32,913
19,000
2,475
18
27,757
_
84,868
_
11,987
84,200
_
96,187
_
(11,319)
796,375
_
785,056
 Total
funds
2020
£
12,770
47,984
18,768
6,433
31
25,000
_
110,986
_
15,968
84,075
_
100,043
_
10,943
785,432
_
796,375

The statement of financial activities includes all gains and losses in the year. All income and expenditure relate to continuing activities.

The notes on pages 10 to 19 form part of these financial statements.

Page 7

TAVERHAM RECREATIONAL FACILITIES LIMITED REGISTERED NUMBER: 02953096

BALANCE SHEET AT 30 JUNE 2021

Notes
£
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Stock
1,600
Debtors
8
-
Cash at bank
134,304
_
135,904
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR
9
(20,131)
_
NET CURRENT ASSETS
CREDITORS: AMOUNTS FALLING
DUE AFTER ONE YEAR
10
TOTAL ASSETS LESS CURRENT LIABILITIES
FUNDS
Unrestricted funds
13
Restricted funds
13		 2021
£
£
719,286
961
1,463
118,887
_
121,311
(18,595)
_
115,773
(50,003)
_
785,056

261,908
523,148
_
785,056
 2020
£
752,327
102,716
(58,668)
_
796,375

255,115
541,260
_
796,375

For the year ended 30 June 2021 the charitable company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

In preparing this report, the trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

The financial statements on pages 7 to 19 were approved by the trustees and authorised for issue on ……………………… and are signed on their behalf by:

23 Feb 2022

~~Mr P J Wright~~ Peter Wright (Feb 23, 2022, 6:25pm) Chairman

The notes on pages 10 to 19 form part of these financial statements.

Page 8

TAVERHAM RECREATIONAL FACILITIES LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2021

Cash flows from operating activities:
Net income/(expenditure)
Depreciation charge
Interest income
(Increase)/ decrease in stock
Decrease/ (increase) in debtors
(Decrease)/ increase in creditors

Cash provided by operating activities
Cash flows from investing activities:
Interest income
Purchase of fixed assets

Cash used in investing activities
Increase in cash and cash equivalents in the year
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
(11,319)
36,314
(18)
(639)
1,463
(7,129)
_
18,672
_
18
(3,273)
_
(3,255)
_
15,417
118,887
_
134,304
2020
£
10,943
37,228
(31)
(2)
162
(7,144)
_
41,156
_
31
(1,833)
_
(1,802)
_
39,354
79,533
_
118,887






The notes on pages 10 to 19 form part of these financial statements.

Page 9

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

1 ACCOUNTING POLICIES

1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

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 2019), Charities SORP (FRS 102) and the Companies Act 2006.

Taverham Recreational Facilities Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

GOING CONCERN

During the financial year 2020-21TRF has once again been subject to closures due to the Covid 19 restrictions, the facilities were closed between November 2020 and January 2021 with the resulting loss of income from pitch hire. A number of business rates grants have helped negate the effect of this. With Covid measures lifting for sport from March 2021 TRF was able to re-open its doors albeit with some restrictions still in place for the end of the season and some summer events. The charity has also been supported by the Coronavirus Job Retention Scheme and a further grant from the council. The trustees believe that the organisation has sufficient reserves to support the organisation for at least 12 months from the date of approval of these financial statements and therefore the accounts have been prepared on a going concern basis.

1.2 GENERAL INFORMATION

The charity is a company limited by guarantee in England and Wales under the Companies Act (2006). It has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity and the charity has 11 members (2020: 11).

The address of the registered office of the charity is Willow Farmhouse, The Green, Old Buckenham, and Attleborough, NR17 1RG. The financial statements are prepared in pounds sterling and rounded to the nearest pound.

1.3 FUND ACCOUNTING

Unrestricted funds represent the accumulated surpluses and deficits in the general fund which are available for use at the discretion of the trustees in the furtherance of the charitable company’s objectives.

Restricted funds are created when grants and donations are received for specific purposes and the use is restricted to that purpose. Expenditure which meets these criteria is charged to the fund. The aim and use of each restricted fund is set out in note 13 to the financial statements.

1.4 INCOME

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Where income has related expenditure, the income and related expenditure are reported gross in the Statement of Financial Activities.

Donations, grants and gifts are recognised when receivable. In the event that a donation is subject to fulfilling performance conditions before the charity is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year end are accounted for in income and accrued income in debtors.

Hire of the pitch, rental, catering and bar income received is recognised for the period that it relates to. Any income received in advanced is shown in deferred income included in creditors. Any income earnt but not received is included in shown in accrued income in debtors.

Page 10

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

1 ACCOUNTING POLICIES (CONTINUED)

Income from government grants are recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.

Interest on deposit funds held is included when receivable and the amount can be measured reliably and by the charity which is normally upon notification of the interest paid or payable by the bank.

Sponsorship from events, fundraising and events registration fees are recognised in income when the event takes place.

Trading income is recognised at the point of sale for both donated and purchased goods.

1.5 EXPENDITURE AND IRRECOVERABLE VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis under the following headings:

Costs of raising funds comprise costs incurred to run the bar.

Expenditure on charitable activities comprises of the costs incurred by the charity in the delivery of its activities and services for its beneficiaries. Activities are undertaken to further the purpose of the charity and their associated support costs.

Support costs comprise those costs which are incurred directly in support of expenditure on the objects of the charity and include governance cost, finance, and office costs. Governance costs are those costs incurred in connection with the compliance with constitutional and statutory requirements of the charity. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Support costs are allocated on the basis of the full time equivalent of staff allocated to the resource.

1.6 TANGIBLE FIXED ASSETS AND DEPRECIATION

Expenditure on tangible fixed assets costing more than £500 is capitalised at cost. Depreciation of tangible fixed assets is calculated to write off the cost less estimated residual value of each asset on a straight-line basis over its expected useful life, as follows:

Asset category Annual Rate Freehold property 2% Foundations 2% Surface and fittings 10% Equipment 10%

1.7 STOCK

Stocks are stated at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis.

1.8 DEBTORS

Trade and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 CASH AT BANK AND IN HAND

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 11

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

1 ACCOUNTING POLICIES (CONTINUED)

1.10 CREDITORS

Creditors 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 are normally recognised at their settlement amount after allowing for any discounts due.

1.11 FINANCIAL INSTRUMENTS

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, which is at cost, with the exception of fixed assets which are recorded at depreciated historical cost.

1.12 TAXATION

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2 JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINITY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for income and expenditure during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. No judgements (apart from those involving estimates) have been made when preparing the financial statements.

The key assumption, concerning the future and other key sources of estimation uncertainty at the reporting date that has a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year is the useful economic life of fixed assets.

Management has calculated the depreciation charge in the accounts based on the estimated useful economic life of the assets less any residual value.

Page 12

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

3 EXPENDITURE

Cost of -- Charitable activities --
Raising
Funds
Bar
Pavilion
Hire of
facilities
2021
£
£
£
Direct Costs
Bar supplies
1,499
-
-
Catering supplies
-
1,514
-
Repairs and renewals
-
-
6,221
Wages
9,877
4,939
4,939
Pavilion costs
-
10,560
-
Light and heat
-
2,703
5,020
Insurance
-
3,065
-
Rent and rates
-
3,820
-
Sundry
611
305
305
Depreciation
-
23,604
12,710
_
_
_
11,987
50,510
29,195
Support Costs
Accountancy
-
723
2,167
Bank charges
-
33
97
Legal and professional
-
369
1,106
_
_
_
-
1,125
3,370
_
_
_
11,987
51,635
32,565
2020
£
£
£
Direct Costs
Bar supplies
7,574
-
-
Catering supplies
-
5,342
-
Repairs and renewals
-
-
3,453
Wages
7,923
3,961
3,961
Pavilion costs
-
10,406
-
Light and heat
-
3,164
5,876
Insurance
-
2,928
-
Rent and rates
-
3,242
-
Sundry
471
235
235
Depreciation
-
24,198
13,030
_
_
_
15,968
53,476
26,555
Support Costs
Accountancy
-
781
2,344
Bank charges
-
20
59
Legal and professional
-
210
630
_
_
_
-
1,011
3,033
_
_
_
15,968
54,487
29,588

Total
£
1,499
1,514
6,221
19,755
10,560
7,723
3,065
3,820
1,221
36,314
_
91,692
2,890
130
1,475
_
4,495
_
96,187

£
7,574
5,342
3,453
15,845
10,406
9,040
2,928
3,242
941
37,228
_
95,999
3,125
79
840
_
4,044
_
100,043


Page 13

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

3 EXPENDITURE (continued)

Expenditure has been allocated directly to the expenditure category on the basis reflecting the use of the resource.

Expenditure on charitable activities was £84,200 (2020: £84,075) of which £66,088 (2020: £69,015) was unrestricted and £18,112 (2020: £18,112) was restricted.

Expenditure in relation to costs of raising funds was £11,987 (2020: £15,968), all of which was unrestricted.

4
NET EXPENDITURE
2021
£
This is stated after charging:
Depreciation
36,314
Independent examiners fee
2,700

5
STAFF COSTS AND NUMBERS
2021
£
Wages and salaries:
19,755

The charitable company had an average of 2 employees during the year (2020: 2).		 2020
£
37,228
2,550
2020
£
15,845

No employees received employee benefits over £60,000 (2020: £Nil).

The charity considers that the key management personnel comprise the trustees and senior management. The total employee benefits of key management personnel of the charity were £11,019 (2020: £9,672).

6 TRUSTEE REMUNERATION

No remuneration was paid or expenses reimbursed to trustees during the year (2020: £Nil).

Page 14

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

7
TANGIBLE ASSETS
Freehold
property
£
COST
At 1 July 2020
457,777
Additions
-
_
At 30 June 2021
457,777

DEPRECIATION
At 1 July 2020
128,181
Provided for the year
9,155
_
At 30 June 2021
137,336

NET BOOK VALUE
At 30 June 2021
320,441

At 30 June 2020
329,596

All fixed assets are held for charitable purposes.
8
DEBTORS
Debtor control account
VAT debtor		 Artificial
pitch Equipment
Total
£
£
£
628,009
49,936
1,135,722
-
3,273
3,273
_
_
_
628,009
53,209
1,138,995



210,104
45,110
383,395
25,377
1,782
36,314
_
_
_
235,481
46,892
419,709



392,528
6,317
719,286



417,905
4,827
752,327



2021
2020
£
£
-
800
-
663
_
_
-
1,463

 Artificial
pitch Equipment
Total
£
£
£
628,009
49,936
1,135,722
-
3,273
3,273
_
_
_
628,009
53,209
1,138,995



210,104
45,110
383,395
25,377
1,782
36,314
_
_
_
235,481
46,892
419,709



392,528
6,317
719,286



417,905
4,827
752,327



2021
2020
£
£
-
800
-
663
_
_
-
1,463
383,395
36,314
_
419,709
719,286
752,327
2020
£
800
663
_
1,463

Page 15

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

9
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other taxes and social security
Accruals and deferred income
10
CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
Deferred income
11
DEFERRED INCOME
Deferred income comprises income received in advance relating to rental
Opening balance at 1 July
Amounts released to income from charitable activities
Amounts deferred in year
Balance carried forwards as at 30 June
Included in amounts falling due within one year
Included in amounts falling due after one year
Total deferred income as at 30 June		 2021
2020
£
£
289
2,329
4,315
159
15,527
16,107
_
_
20,131
18,595


2021
2020
£
£
50,003
58,668


of the hockey pitch and pavilion.
2021
2020
£
£
70,501
78,334
(11,832)
(11,000)
3,167
3,167
_
_
61,836
70,501


11,833
11,833
50,003
58,668
_
_
61,836
70,501

Page 16

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

12 ANALYSIS OF NET ASSETS BETWEEN FUNDS

2021
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
2020
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
13
MOVEMENT IN FUNDS
Balance at
2021
1.7.20
£
RESTRICTED FUNDS
Artificial pitch and equipment
32,802
Building fund
241,618
Artificial pitch (number 2)
266,840
_
TOTAL RESTRICTED FUNDS
541,260
_
UNRESTRICTED FUNDS
General fund
255,115
_
TOTAL FUNDS
796,375
 General
Restricted
fund
fund
Total
£
£
£
196,138
523,148
719,286
135,904
-
135,904
(20,131)
-
(20,131)
(50,003)
-
(50,003)
_
_
_
261,908
523,148
785,056



£
£
£
211,067
541,260
752,327
121,311
-
121,311
(18,595)
-
(18,595)
(58,668)
-
(58,668)
_
_
_
255,115
541,260
796,375



Balance at
Income Expenditure
30.6.21
£
£
£
-
(1,891)
30,911
-
(6,775)
234,843
-
(9,446)
257,394
_
_
_
-
(18,112)
523,148
_
_
_
84,868
(78,075)
261,908
_
_
_
84,868
(96,187)
785,056

Page 17

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

13 MOVEMENT IN FUNDS (continued)
Balance at Balance at
2020 1.7.19 Income Expenditure 30.6.20
£ £
£		 £
RESTRICTED FUNDS
Artificial pitch and equipment 34,693 -
(1,891)		 32,802
Building fund 248,393 -
(6,775)		 241,618
Artificial pitch (number 2) 276,286 -
(9,446)		 266,840
_ _
_		 _
TOTAL RESTRICTED FUNDS 559,372 -
(18,112)		 541,260
_ _
_		 _
UNRESTRICTED FUNDS
General fund 226,060 110,986
(81,931)		 255,115
_ _
_		 _
TOTAL FUNDS 785,432 110,986
(100,043)		 796,375

Purposes of restricted funds

The artificial pitch and equipment fund arose when a £200,000 grant was received in 1996 to part-finance construction of the artificial hockey pitch. The fund balance has been reduced by the annual depreciation charge.

The building fund represents funds received towards the cost of the new sports pavilion. The fund balance has been reduced by the annual depreciation charge.

The artificial pitch (number 2) represents funding received since 2010 for the construction of a second artificial hockey pitch.

14 CAPITAL COMMITMENTS

At 30 June 2021 the charitable company had capital commitments as follows:

2021 2020
£ £
Contracted for but not provided in these financial statements 31,346 -

Page 18

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

15 RELATED PARTY TRANSACTIONS

The charitable company has a close relationship with Broadland Hockey Club, Norwich City Hockey Club and Taverham High School, all of which nominate trustees. The following is a summary of transactions with those entities, (figures exclude VAT).

Hire of facilities and catering income
Broadland Hockey Club
Norwich City Hockey Club
Taverham High School
Purchase of cleaning materials
Taverham High School		 2021
£
3,133
19,027
19,000
_
2021
£
471
 2020
£
7,866
36,020
19,000
_
2020
£
621

Included in deferred income at 30 June 2021 is £39,836 (2020: £44,834) from Taverham High School for rental income paid in advance.

No other related party transactions have occurred during the financial year.

Page 19