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2024-06-30-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 2024

TAVERHAM RECREATIONAL FACILITIES LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J Castlo-Hall - Chairman
M C Brine
C M Duthie
J L Glenn
A S Marr
J Baker (Appointed 7 March 2024)
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 2022)
J Marr (from 1 September 2022)
Independent examiner Argents Accountants Limited
15 Palace Street
NORWICH
Norfolk
United Kingdom
NR3 1RT
Bankers Lloyds Bank
Gentleman's Walk
Norwich
Andover
BX1 1LT

TAVERHAM RECREATIONAL FACILITIES LIMITED

CONTENTS

Page
Trustees' report 1 - 3
Statement of trustees' responsibilities 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 18

TAVERHAM RECREATIONAL FACILITIES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2024

The trustees present their annual report and financial statements for the year ended 30 June 2024.

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.

Public benefit

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

Achievements and performance

Significant activities and achievements against objectives

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 we have made a couple of improvements to facilities at TRF: We have installed hand dryers in the toilets to replace paper towels. Purchase of equipment to help remove pine needles from the pitches and equipment to treat moss. 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.

Since changing our bar supplier a few years ago, we have continued to improve the range of drinks. This has seen us introducing Guinness and San miguel.

The TRF committee has met regularly and will continue to review the finances and hire charges, ensuring that sufficient funds will be available for future developments. We are currently looking at upgrading flood lights to LED and funding to help with resurfacing of both pitches.

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 2024

Financial review

The financial statements are set out on pages 6 to 18. Total income for the year amounted to £121,531 (2023: £108,850) and total expenditure amounted to £133,667 (2023: £150,350).

Income from the hire of the pitch amounted to £53,078 (2023: £57,408) with costs of £39,429 (2023: £43,897) giving a surplus, in respect of the pitches, this year of £13,649 (2023: surplus £13,511)

Income of £31,733 (2023: £29,150) was received for the year in respect of rent of the pavilion and catering income, with associated costs of £74,703 (2023: £86,882) giving a deficit, in respect of the pavilion and catering, this year of £42,970 (2023: deficit £57,732) The main reason for the deficits arising on these activities is deprecation on fixed assets.

Bar income amounted to £35,232 (2023: £21,500) with costs of £19,535 (2023: £19,571) giving a surplus, in respect of the bar, this year of £15,697 (2023: surplus £1,929)

No government grants (2021: £27.757) 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.

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 £195,473 (2023: £193,306) and included within this are liquid funds of £53,526 (2023: £56,154) (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 £472,681 (2023: £486,984) 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.

Joby Casto-Hall in the role of Chairman 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 2024. 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 2024

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 (Resigned 26 September 2023) C M Duthie M Egleton (Resigned 30 June 2024) J L Glenn A S Marr J Baker (Appointed 7 March 2024)

Recruitment and appointment of trustees

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 they have reached the age of 70 years. The trustees who will retire by rotation are C. Duthie and J Glenn 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.

Other matters

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

27 February 2025

TAVERHAM RECREATIONAL FACILITIES LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 JUNE 2024

The trustees, who are also the directors of Taverham Recreational Facilities Limited for the purpose of company law, are responsible for preparing the Trustees' 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 which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

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 charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 2024.

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: 4 March 2025

TAVERHAM RECREATIONAL FACILITIES LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
604
-
Charitable activities
4
84,811
-
Other trading activities
5
35,232
-
Investments
6
884
-
Total income
121,531
-
Expenditure on:
Raising funds
7
19,535
-
Charitable activities
8
99,829
14,303
Total expenditure
119,364
14,303
Net income/(expenditure) and
movement in funds
2,167
(14,303)
Reconciliation of funds:
Fund balances at 1 July 2023
193,306
486,984
Fund balances at 30 June
2024
195,473
472,681		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
604
604
-
84,811
86,558
-
35,232
21,688
-
884
-
-
121,531
108,850
-
19,535
19,571
-
114,132
112,667
18,112
133,667
132,238
18,112
(12,136)
(23,388)
(18,112)
680,290
216,694
505,096
668,154
193,306
486,984		 Total
2023
£
604
86,558
21,688
-
108,850
19,571
130,779
150,350
(41,500)
721,790
680,290

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

TAVERHAM RECREATIONAL FACILITIES LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024

Notes
Fixed assets
Tangible assets
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
18
Net assets
The funds of the charity
Restricted income funds
20
Unrestricted funds
21		 2024
£
2,450
1,154
70,810
74,414
(20,888)		 £
638,629
53,526
692,155
(24,001)
668,154
472,681
195,473
668,154		 2023
£
1,400
-
72,319
73,719
(17,565)		 £
656,804
56,154
712,958
(32,668)
680,290
486,984
193,306
680,290

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 2024.

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 27 February 2025

J Castlo-Hall - Chairman

Trustee

Company registration number 02953096 (England and Wales)

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

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 or grantors 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 2024

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 2024

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 2024

3 Income from donations and legacies
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 604 604
4 Income from charitable activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Pitch
Sales/hire 53,078 57,408
Pavillion
Sales/hire 20,900 20,900
Catering
Sales/hire 10,833 8,250
84,811 86,558
5 Income from other trading activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Bar income 35,232 21,500
Sponsorships and social lotteries - 188
Other trading activities 35,232 21,688
6 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 884 -

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

7 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Other fundraising costs 983 821
Trading costs
Bar operating costs 13,590 12,733
Staff costs 4,962 6,017
18,552 18,750
Total costs 19,535 19,571

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

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
2024
£
4,525
9,046
-
9,311
-
12,280
-
-
492
35,654
3,775
39,429
34,423
5,006
39,429		 Pavilion
Catering
2024
2024
£
£
9,193
9,913
16,800
-
-
6,810
-
-
14,527
-
10,617
-
3,301
-
1,792
-
492
-
56,722
16,723
1,258
-
57,980
16,723
48,683
16,723
9,297
-
57,980
16,723		 Total
2024
£
23,631
25,846
6,810
9,311
14,527
22,897
3,301
1,792
984
109,099
5,033
114,132
99,829
14,303
114,132		 Pitch
2023
£
5,817
12,628
-
10,326
-
11,424
-
-
430
40,625
3,272
43,897
37,558
6,339
43,897		 Pavilion
2023
£
10,558
23,453
-
-
16,878
14,428
3,095
2,144
410
70,966
1,090
72,056
60,283
11,773
72,056		 Catering
2023
£
8,653
-
6,173
-
-
-
-
-
-
14,826
-
14,826
14,826
-
14,826		 Total
2023
£
25,028
36,081
6,173
10,326
16,878
25,852
3,095
2,144
840
126,417
4,362
130,779
112,667
18,112
130,779

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

9 Support costs allocated to activities

Governance costs
Analysed between:
Unrestricted funds
Restricted funds
10
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets		 2024
£
5,033
3,775
1,258
5,033
2024
£
25,846		 2023
£
4,362
3,272
1,090
4,362
2023
£
36,081

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

12 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2024 2023
Number Number
4 5
Employment costs 2024 2023
£ £
Wages and salaries 28,593 31,045
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2024 2023
£ £
Aggregate compensation 11,735 12,585

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

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Tangible fixed assets

Freehold land
and buildings
£
Cost
At 1 July 2023
457,777
Additions
-
At 30 June 2024
457,777
Depreciation and impairment
At 1 July 2023
155,646
Depreciation charged in the year
9,155
At 30 June 2024
164,801
Carrying amount
At 30 June 2024
292,976
At 30 June 2023
302,131
15
Stocks
Finished goods and goods for resale
16
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 Artificial
pitches
£
628,008
-
628,008
286,235
14,906
301,141
326,867
341,773		 Equipment
£
62,158
7,671
69,829
49,258
1,785
51,043
18,786
12,900
2024
£
2,450
2024
£
500
654
1,154		 Total
£
1,147,943
7,671
1,155,614
491,139
25,846
516,985
638,629
656,804
2023
£
1,400
2023
£
-
-
-

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

17
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
19
Trade creditors
Accruals
18
Creditors: amounts falling due after more than one year
Notes
Deferred income
19
19
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Non-current liabilities
Movements in the year:
Deferred income at 1 July 2023
Released from previous periods

Resources deferred in the year
Deferred income at 30 June 2024		 2024
2023
£
£
580
1,462
12,150
12,150
5,208
1,038
2,950
2,915
20,888
17,565
2024
2023
£
£
24,001
32,668
2024
2023
£
£
36,151
44,818
2024
2023
£
£
12,150
12,150
24,001
32,668
36,151
44,818
44,818
61,836
(12,150)
(11,833)
3,483
3,483
36,151
53,486

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

20 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 July 2023
Resources
expended
At
£
£
Artificial pitch and equipment
27,129
(1,891)
Building fund
221,293
(6,775)
Artificial pitch (number 2)
238,502
(5,637)
Defibrillator fund
60
-
486,984
(14,303)
Previous year:
At 1 July 2022
Resources
expended
At
£
£
Artificial pitch and equipment
29,020
(1,891)
Building fund
228,068
(6,775)
Artificial pitch (number 2)
247,948
(9,446)
Defibrillator fund
60
-
505,096
18,112		 30 June
2024
£
25,238
214,518
232,865
60
472,681
30 June
2023
£
27,129
221,293
238,502
60
486,984

21 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2023
Incoming
resources
Resources
expended
At
£
£
£
General funds
193,306
121,531
(119,364)
Previous year:
At 1 July 2022
Incoming
resources
Resources
expended
At
£
£
£
General funds
216,694
108,850
(132,238)		 30 June
2024
£
195,473
30 June
2023
£
193,306

TAVERHAM RECREATIONAL FACILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

22 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 30 June 2024:
Tangible assets
166,008
472,621
Current assets/(liabilities)
53,466
60
Long term liabilities
(24,001)
-
195,473
472,681
Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 30 June 2023:
Tangible assets
169,880
486,924
Current assets/(liabilities)
56,094
60
Long term liabilities
(32,668)
-
193,306
486,984		 Total
2024
£
638,629
53,526
(24,001)
668,154
Total
2023
£
656,804
56,154
(32,668)
680,290

23 Related party transactions

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
2024
2023
2024
2023
£
£
£
£
11,033
9,502
-
-
58,165
53,045
-
-
25,230
26,010
-
864
94,428
88,557
-
864		 Sale of goods
Purchase of goods
2024
2023
2024
2023
£
£
£
£
11,033
9,502
-
-
58,165
53,045
-
-
25,230
26,010
-
864
94,428
88,557
-
864
864

Included in deferred income at 30 June 2024 is £25,152 (2023: £30,152) from Taverham High School for rental income paid in advance.

The wife of Mr A Marr, a trustee, Mrs J Marr was an employee of the charity in the year. Mrs J Marr received £11,735 in respect of her employment role.