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2022-06-30-accounts

Charity registration number 1062217

Company registration number 02953096 (England and Wales)

TAVERHAM RECREATIONAL FACILITIES LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

TAVERHAM RECREATIONAL FACILITIES LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J Castlo-Hall - Chairman
M C Brine
L J Cousins
C M Duthie (Appointed 21 April 2022)
M Egleton
J L Glenn
A S Marr (Appointed 21 April 2022)
Secretary J L Glenn
Charity number 1062217
Company number 02953096
Registered office Willow Farmhouse
The Green
Old Buckenham
ATTLEBOROUGH
Norfolk
United Kingdom
NR17 1RG
Key Management Personnel A Marr (to 31 August 2020)
J Marr (from 1 September 2020)
Independent examiner Argents Accountants Limited
15 Palace Street
NORWICH
Norfolk
United Kingdom
NR3 1RT
Bankers Llloyds Bank
Gentleman's Walk
Norwich

TAVERHAM RECREATIONAL FACILITIES LIMITED

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 15

TAVERHAM RECREATIONAL FACILITIES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2022

The trustees present their annual report and financial statements for the year ended 30 June 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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).

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.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The facilities owned by Taverham Recreation Facilities (TRF) continue to be very well used. Both pitches are used throughout the day by the two adjoining schools and by clubs most evenings.

This year has seen several improvements to the facilities at TRF: The car park has been refurbished with new gravel and railway sleepers to mark parking spaces. The changing rooms, corridor and toilets have been painted, including doors. As well as general maintenance to ensure that the standard of the facilities is maintained at the highest level possible to address the needs of current and future users.

We have changed our supplier for the bar, which has seen new beer taps installed and an increased range of drinks and snacks.

The TRF committee have met regularly and will continue to review the finances and hire charges, ensuring that sufficient funds will be available for future developments.

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

TAVERHAM RECREATIONAL FACILITIES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

Financial review

The financial statements are set out on pages 5 to 15. Total income for the year amounted to £94,697 (2021: £84,868) and total expenditure amounted to £157,963 (2021: £96,187).

Income from the hire of the pitch amounted to £56,724 (2021: £32,913) with costs of £75,326 (2021: £32,565) giving a deficit, in respect of the pitches, this year of £18,602 (2021: surplus £348)

Income of £26,450 (2021: £21,475) was received for the year in respect of rent of the pavilion and catering income, with associated costs of £61,404 (2021: £51,635) giving a deficit, in respect of the pavilion and catering, this year of £34,954 (2021: deficit £30,160) The main reason for the deficits arising on these activities is deprecation on fixed assets.

Bar income amounted to £10,319 (2021: £2,705) with costs of £21,233 (2021: £11,987) giving a deficit, in respect of the bar, this year of £10,914 (2021: deficit £9,282)

No government grants (2021: £27.757) were received in the year, in response to the COVID-19 pandemic.

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.

Previously, given their plans for future years the trustees had ring fenced £25,000 of unrestricted funds to support the future development of facilities, this remains the same.

The unrestricted general fund balance at the year end was £216,694 (2021: £261,908) and included within this are liquid funds of £74,579 (2021: £115,773) (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 £505,096 (2021: £523,148) primarily representing grants and donations raised towards the cost of the pitches and pavilion. This will be written off over the life of the assets.

Plans for future periods

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.

With Peter Wright stepping down as trustee in the year Joby Casto-Hall took up 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.

Structure, governance and management

The charity is a 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 year ended 30 June 2022. there were 11 such members (2021: 11), drawn from Broadland Hockey Club, Norwich City Hockey Club, Taverham High School and Taverham Parish Council.

TAVERHAM RECREATIONAL FACILITIES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

J Castlo-Hall - Chairman

M C Brine L J Cousins C M Duthie (Appointed 21 April 2022) M Egleton J L Glenn A S Marr (Appointed 21 April 2022) P Wright (Resigned 21 April 2022)

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

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

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.

The trustees' report was approved by the Board of Trustees.

J Castlo-Hall - Chairman

Trustee

16 March 2023

TAVERHAM RECREATIONAL FACILITIES LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF TAVERHAM RECREATIONAL FACILITIES LIMITED

I report to the trustees on my examination of the financial statements of Taverham Recreational Facilities Limited (the charity) for the year ended 30 June 2022.

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 financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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:

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 financial statements to be reached.

Mark Johnstone FCA

Argents Accountants Limited 15 Palace Street NORWICH Norfolk NR3 1RT United Kingdom

Dated: 21 March 2023

TAVERHAM RECREATIONAL FACILITIES LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
3
704
500
Charitable activities
4
83,174
-
Other trading activities
5
10,319
-
Investments
6
-
-
Total income
94,197
500
Expenditure on:
Raising funds
7
21,233
-
Charitable activities
8
118,178
18,552
Total expenditure
139,411
18,552
Net expenditure for the year/
Net movement in funds
(45,214)
(18,052)
Fund balances at 1 July 2021
261,908
523,148
Fund balances at 30 June
2022
216,694
505,096		 Total Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
1,204
27,757
-
83,174
54,388
-
10,319
2,705
-
-
18
-
94,697
84,868
-
21,233
11,987
-
136,730
66,088
18,112
157,963
78,075
18,112
(63,266)
6,793
(18,112)
785,056
255,115
541,260
721,790
261,908
523,148		 Total
2021
£
27,757
54,388
2,705
18
84,868
11,987
84,200
96,187
(11,319)
796,375
785,056

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

TAVERHAM RECREATIONAL FACILITIES LIMITED

BALANCE SHEET

AS AT 30 JUNE 2022

Notes
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Net assets
Income funds
Restricted funds
18
Unrestricted funds		 2022
£
1,500
2,602
86,576
90,678
(16,099)		 £
688,546
74,579
763,125
(41,335)
721,790
505,096
216,694
721,790		 2021
£
1,600
-
134,304
135,904
(20,131)		 £
719,286
115,773
835,059
(50,003)
785,056
523,148
261,908
785,056

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2022.

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 16 March 2023

J Castlo-Hall - Chairman

Trustee

Company registration number 02953096

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

Charity information

Taverham Recreational Facilities Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Willow Farmhouse, The Green, Old Buckenham, ATTLEBOROUGH, Norfolk, NR17 1RG, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% Straight-line Artificial pitches 2% - 10% Straight-line Equipment 10% - 14% Straight-line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Donations and gifts
704
500
Grant income
-
-
704
500
4
Charitable activities
Pitch
Pavilion
Catering
2022
2022
2022
£
£
£
Sales/hire
56,724
19,000
7,450		 Total
Unrestricted
funds
2022
2021
£
£
1,204
-
-
27,757
1,204
27,757
Total
Total
2022
2021
£
£
83,174
54,388		 Total
Unrestricted
funds
2022
2021
£
£
1,204
-
-
27,757
1,204
27,757
Total
Total
2022
2021
£
£
83,174
54,388
27,757
Total
2021
£
54,388

5 Other trading activities

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Bar income 10,319 2,705
6 Investments
Total Unrestricted
funds
2022 2021
£ £
Interest receivable - 18

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

7 Raising funds

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Fundraising and publicity
Other fundraising costs 808 611
Trading costs
Bar operating costs 7,499 1,499
Staff costs 12,926 9,877
Trading costs 20,425 11,376
21,233 11,987

8 Charitable activities

Staff costs
Depreciation
Catering supplies
Repairs and renewals
Pavilion costs
Light and heat
Insurance
Rent and rates
Sundry
Share of governance costs
(see note 9)
Analysis by fund
Unrestricted funds
Restricted funds		 Pitch
2022
£
6,464
12,372
-
44,367
-
8,322
-
-
403
71,928
3,398
75,326
68,547
6,779
75,326		 Pavilion
2022
£
6,464
22,977
4,230
-
14,414
6,408
2,926
2,449
403
60,271
1,133
61,404
49,631
11,773
61,404		 Total
2022
£
12,928
35,349
4,230
44,367
14,414
14,730
2,926
2,449
806
132,199
4,531
136,730
118,178
18,552
136,730		 Pitch
2021
£
4,939
12,710
-
6,221
-
5,020
-
-
305
29,195
3,370
32,565
26,226
6,339
32,565		 Pavilion
2021
£
4,939
23,604
1,514
-
10,560
2,703
3,065
3,820
305
50,510
1,125
51,635
39,862
11,773
51,635		 Total
2021
£
9,878
36,314
1,514
6,221
10,560
7,723
3,065
3,820
610
79,705
4,495
84,200
66,088
18,112
84,200

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

9 Support costs

Support costs
Support
costs
Governance
costs
£
£
Accountancy
-
2,870
Legal and professional
-
1,450
Bank charges
-
211
-
4,531
Analysed between
Charitable activities
-
4,531		 2022
£
2,870
1,450
211
4,531
4,531		 2021
£
2,890
1,475
130
4,495
4,495

10 Trustees

Mr A Marr, a trustee, received remuneration in respect of his employment role with the charity. He received £7,050 during the year.

11 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
5 2
Employment costs 2022 2021
£ £
Wages and salaries 25,854 19,755

There were no employees whose annual remuneration was more than £60,000.

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

12
Tangible fixed assets
Freehold land
and buildings
Artificial
pitches
£
£
Cost
At 1 July 2021
457,777
628,008
Additions
-
-
At 30 June 2022
457,777
628,008
Depreciation and impairment
At 1 July 2021
137,336
235,481
Depreciation charged in the year
9,155
25,377
At 30 June 2022
146,491
260,858
Carrying amount
At 30 June 2022
311,286
367,150
At 30 June 2021
320,441
392,528
13
Stocks
Finished goods and goods for resale
14
Debtors
Amounts falling due within one year:
Other debtors
15
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
17
Trade creditors
Accruals		 Equipment
£
53,210
4,609
57,819
46,892
817
47,709
10,110
6,317
2022
£
1,500
2022
£
2,602
2022
£
-
11,833
1,067
3,199
16,099		 Total
£
1,138,995
4,609
1,143,604
419,709
35,349
455,058
688,546
719,286
2021
£
1,600
2021
£
-
2021
£
4,315
11,833
289
3,694
20,131

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

16 Creditors: amounts falling due after more than one year Creditors: amounts falling due after more than one year Creditors: amounts falling due after more than one year Creditors: amounts falling due after more than one year Creditors: amounts falling due after more than one year
2022 2021
Notes £ £
Deferred income 17 41,335 50,003
17 Deferred income
2022 2021
£ £
Other deferred income 53,168 61,836
Deferred income is included in the financial statements as follows:
2022 2021
£ £
Deferred income is included within:
Current liabilities 11,833 11,833
Non-current liabilities 41,335 50,003
53,168 61,836
Movements in the year:
Deferred income at 1 July 2021 61,836 70,501
Released from previous periods (11,833) (11,832)
Resources deferred in the year 3,165 3,167
Deferred income at 30 June 2022 53,168 61,836
18 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of
donations and grants held on trust for specific purposes:
Movement in funds
Balance at Resources Balance at Incoming Resources Balance at
1 July 2020 expended
 1 July 2021 resources expended 30 June
£ £ £ £ £ 2022
£
Artificial pitch and
equipment 32,802 (1,891) 30,911 - (1,891) 29,020
Building fund 241,618 (6,775) 234,843 - (6,775) 228,068
Artificial pitch (number 2) 266,840 (9,446) 257,394 - (9,446) 247,948
Defibrillator fund - - - 500 (440) 60
541,260 (18,112) 523,148 500 (18,552) 505,096

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

19
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 30
June 2022 are
represented by:
Tangible assets
183,510
505,036
Current assets/(liabilities)
74,519
60
Long term liabilities
(41,335)
-
216,694
505,096		 Total
Unrestricted
funds
Restricted
funds
2022
2021
2021
£
£
£
688,546
196,138
523,148
74,579
115,773
-
(41,335)
(50,003)
-
721,790
261,908
523,148		 Total
2021
£
719,286
115,773
(50,003
785,056

20 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2022 2021
£ £
Aggregate compensation 17,786 11,019

The charity considers that the key management personnel comprises of the Trustees and senior management.

Both Mr A Marr, a trustee and his wife Mrs J Marr were employees of the charity in the year. Mrs J Marr received £10,736 (excluding any statutory maternity pay recovered) in the year in respect of her employment role.

Transactions with 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. THe following is summary of transactions with those entities, (figures exclude VAT):

Broadland Hockey Club
Norwich City Hockey Club
Taverham High School		 Sale of goods
Purchase of goods
2022
2021
2022
2021
£
£
£
£
7,393
3,133
-
-
44,337
19,027
-
-
24,000
19,000
527
471
75,730
41,160
527
471		 Sale of goods
Purchase of goods
2022
2021
2022
2021
£
£
£
£
7,393
3,133
-
-
44,337
19,027
-
-
24,000
19,000
527
471
75,730
41,160
527
471
471

Included in deferred income at 30 June 2022 is £34,835 (2021: £39,836) from Taverham High School for rental income paid in advance.

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