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2022-09-30-accounts

Charity registration number 1091114

Company registration number 04279448 (England and Wales)

EAST GRINSTEAD SPORTS CLUB LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

PAGES FOR FILING WITH REGISTRAR

EAST GRINSTEAD SPORTS CLUB LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees R Leman
R Thornley - Gibson
G Christopherson
G Needle (Chairman)
C Gregory
L Farren
N Fish (Treasurer)
Charity number 1091114
Company number 04279448
Registered office Saint Hill Road
East Grinstead
West Sussex
RH19 4JU
Independent examiner Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited
Chartered Accountants
1 - 7 Station Road
Crawley
West Sussex
RH10 1HT
Solicitors Rohan & Co
Aberdeen House
South Road
Haywards Heath
RH16 4NG

EAST GRINSTEAD SPORTS CLUB LIMITED

CONTENTS

Page
Trustees' report 1 - 5
Independent examiner's report 6
Statement of financial activities 7 - 8
Balance sheet 9
Notes to the financial statements 10 - 22

EAST GRINSTEAD SPORTS CLUB LIMITED

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

The Trustees present their annual report and financial statements for the year ended 30 September 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 Charitable Company's Memorandum and Articles of Association, 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 objects of the charity are to promote the benefit of the inhabitants of East Grinstead and the surrounding area without distinction of sex, sexual orientation, race or of political, religious or other opinions, to advance education and to provide and assist in the provision of recreation and leisure-time occupation with the object of improving the conditions of life of the said inhabitants.

The Trustees pay due regard to guidance issued by the Charity Commission, including guidance on public benefit, in deciding what activities the Charitable Company should undertake.

Current Activities

The Charity operates from its only site in Saint Hill Road, East Grinstead and is proud to support the provision of high quality sporting facilities with top quality pitches for elite hockey, cricket, football and netball as well as squash courts, gym and a sports hall.

page 1

EAST GRINSTEAD SPORTS CLUB LIMITED

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

History of significant events

In 1989 East Grinstead Cricket Club and East Grinstead Hockey Club merged to create East Grinstead Sports Club. Both clubs had a long tradition of playing sport in the town but could see the benefits of joining forces for mutual advantage.

As part of the merger the cricket ground at West Street was sold, and the cricket club moved to the current site at Saint Hill, which the Hockey Club had purchased in 1959. The proceeds of the cricket ground sale were invested in building a new pavilion and sports hall at Saint Hill, laying an artificial hockey pitch, and creating a new cricket square. East Grinstead Ladies Hockey Club played its hockey at the old cricket ground and decided to move to Saint Hill at the same time and become another founder member club of the Sports Club.

The Sports Club expanded further in 1997 through the joining of the Felbridge Badminton Club.

Key developments and milestones in the subsequent years include:

As at 30 September 2022 there were 6 sports clubs affiliated to the charity and based at the Saint Hill site – EG Men’s and Ladies’ Hockey Club, EG Cricket Club, Felbridge Badminton Club, CD Phoenix Netball Club, Dunnings Squash & Racketball Club, and East Grinstead Meads Football Club. The charity also works closely with a number of other clubs that use the facilities.

Achievements and performance

With effect from 29 September 2017 the Trustees leased the site and facilities to a specialist leisure management company, Wave Leisure Trust Limited (itself a registered charity). Wave Leisure Trust Limited entered into a twelve year lease to operate the facilities at EGSC, with an option to extend beyond that period if both parties agree.

Leasing the facility in this way enables the Trustees to focus on the Charity’s objectives through identifying and working towards future developments to maintain and enhance the facilities, and providing sporting/well-being opportunities to the local community.

The main focus of the Trustees and all volunteers during the current year has been in bringing the facilities back to full operation following the long periods of closure and disruption due to the Covid pandemic.

Effective from 1 February 2023, the lease with Wave Leisure Trust Limited was terminated by mutual consent, and a new operator appointed, Acorns Health & Leisure Limited.

page 2

EAST GRINSTEAD SPORTS CLUB LIMITED

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

Financial review

The Charity has net incoming resources of £22,691 (net incoming resources in 2021: £17,874), as shown in the Statement of Financial Activities on page 6, and accompanying notes to these financial statements. Included within the incoming resources are donations of £13 (2021: £38,833), and included within the resources expended are depreciation charges totalling £27,793 (2021: £27,795).

The Charity continues to work with all sports clubs and users to raise funds to offset the depreciation charges and hence eventually replace/replenish existing facilities. The Charity has a policy of building up sinking funds for the replacement and developments of all the facilities it owns. These sinking funds are held in the Charity’s restricted funds. Over the year these sinking funds decreased by £1,705 mainly as a result of improvements and repairs to the squash courts and area around the netball courts (decreased in 2020 by £37,551, due largely to investments in new LED flood lights.).

The Charity, working with the East Grinstead Hockey Club, has a funding target of £22,000 per annum towards the future replacement/refurbishment of the hockey pitch. The Charity continually works with the affiliated clubs and other interested parties to identify specific targets for development of other key facilities.

The Charity’s only sources of funding are donations and grants from third parties, and the rent received from the operator to which the facilities are leased. Donations and grants that are given for specific purposes are used entirely for those purposes. The Charity minimises as best it can the costs associated with its operations (noting that all Trustees provide their time on a voluntary basis), and as a result a minimum of 85%-90% of all unallocated income (essentially rental income above that received for specific costs such as insurance) is used for charitable activities in accordance with the Charity’s objects. As all grants and donations are fully utilised in this way, well over 90% of all income received is used directly to support the work of the Charity.

Reserves policy

It is the policy of the board to have a prudent and balanced view on reserves. Free reserves are intended to reflect a level of approximately between three and six months’ expenditure over and above the value of the land, buildings and pitches.

page 3

EAST GRINSTEAD SPORTS CLUB LIMITED

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

Structure, governance and management

East Grinstead Sports Club Limited is a company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association.

The Directors of the charitable company ("the charity") are Trustees for the purpose of charity law and Directors for the purpose of company law. Collectively they are referred to as Directors.

The Directors who served during the year were:

R Leman K Ellis (Resigned 12 July 2022) R Thornley - Gibson G Christopherson G Needle (Chairman) C Gregory L Farren N Fish (Treasurer) M Chappell (Resigned 12 July 2022)

None of the Directors has any beneficial interest in the company. Every member of the Company has a liability to contribute up to £1 to the assets of the Company in the event of it being wound up whilst they are a member or within one year after ceasing to be a member.

The Board shall consist of not less than six members. There is no maximum.

Under the terms of the Company’s Articles of Association one third of the Board members are required to retire each year, although all are eligible for re-election. At the Annual General Meeting on 22 July 2021 R Thornley-Gibson, K Ellis and R Leman stood down as Directors under rotation, but agreed to stand for re-appointment. All three were reappointed unanimously by the members present at the AGM. Those entitled to vote at the AGM are either a current Trustee of the Charity or an adult member of one of the following sports clubs: East Grinstead Hockey Club, East Grinstead Cricket Club, Dunnings Squash and Racketball Club, CD Phoenix Netball Club, Felbridge Badminton Club, and East Grinstead Meads Football Club.

The Directors have identified and considered the overall risks to the Charity. These risks are regularly reassessed with regard to their impact and their likelihood of occurring within the organisation. Systems to control and mitigate these risks are in place.

page 4

EAST GRINSTEAD SPORTS CLUB LIMITED

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

Risk management

During the Covid-19 pandemic the facilities at the club had been closed for part of the year, as required by Government guidance.

Since then all facilities have reopened, following full compliance with Government guidance and having regard to the safety of all users.

Small company exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.

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

N Fish (Treasurer)

Trustee Dated: 7 June 2023

page 5

EAST GRINSTEAD SPORTS CLUB LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF EAST GRINSTEAD SPORTS CLUB LIMITED

I report to the Trustees on my examination of the financial statements of East Grinstead Sports Club Limited (the Charitable Company) for the year ended 30 September 2022.

Responsibilities and basis of report

As the Trustees of the Charitable Company (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 Charitable 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 the Charitable Company’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.

Darren Harding ACA FCCA DChA Richard Place Dobson Services Limited Chartered Accountants 1 - 7 Station Road Crawley West Sussex RH10 1HT

Dated: 30 June 2023

page 6

EAST GRINSTEAD SPORTS CLUB LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Current financial year
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
fund
2022
2022
2022
Notes
£
£
£
Income from:
Donations and legacies
3
13
-
-
Provision of leisure facilities
4
16,908
-
4,500
Other trading activities
5
16,791
-
-
Investments
6
39,263
-
-
Other income
7
500
-
-
Total income
73,475
-
4,500
Expenditure on:
Charitable activities
8
26,442
27,793
1,049
Net income for the year/
Net movement in funds
47,033
(27,793)
3,451
Net income for the year/
Net movement in funds
47,033
(27,793)
3,451
Fund balances at 1 October 2021
19,187
2,512,653
68,283
Fund balances at 30 September 2022
66,220
2,484,860
71,734		 Total
2022
£
13
21,408
16,791
39,263
500
77,975
55,284
22,691
22,691
2,600,123
2,622,814		 Total
2021
£
38,833
65,026
-
12,502
-
116,361
98,487
17,874
17,874
2,582,249
2,600,123

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.

page 7

EAST GRINSTEAD SPORTS CLUB LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Prior financial year
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
fund
2021
2021
2021
Notes
£
£
£
Income from:
Donations and legacies
3
97
-
38,736
Provision of leisure facilities
4
62,073
-
2,953
Investments
6
12,476
-
26
Total income
74,646
-
41,715
Expenditure on:
Charitable activities
8
30,752
27,795
39,940
Gross transfers between funds
(42,000)
39,750
2,250
Net income for the year/
Net movement in funds
1,894
11,955
4,025
Fund balances at 1 October 2020
17,293
2,500,698
64,258
Fund balances at 30 September 2021
19,187
2,512,653
68,283		 Total
2021
£
38,833
65,026
12,502
116,361
98,487
-
17,874
2,582,249
2,600,123

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.

page 8

EAST GRINSTEAD SPORTS CLUB LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2022

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
16
Unrestricted funds
Designated funds
17
General unrestricted funds		 2022
£
-
281,015
281,015
(55,969)
2,484,860
66,220		 £
2,397,768
225,046
2,622,814
71,734
2,551,080
2,622,814		 2021
£
24,303
221,202
245,505
(70,944)
2,512,653
19,187		 £
2,425,562
174,561
2,600,123
68,283
2,531,840
2,600,123

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 September 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 7 June 2023

N Fish (Treasurer)

Trustee

Company Registration No. 04279448

page 9

EAST GRINSTEAD SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

1 Accounting policies

Charity information

East Grinstead Sports Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Saint Hill Road, East Grinstead, West Sussex, RH19 4JU.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charitable Company'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)". The Charitable Company is a Public Benefit Entity as defined by FRS 102.

The Charitable Company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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

The financial statements have been prepared under the historical cost convention. 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 Charitable Company 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.

Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

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.

1.4 Income

Income is recognised when the Charitable Company 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.

Other grants, donations and legacies are included in full in the Statement of Financial Activities when receivable.

Income from charitable activities and other income is included in the Statement of Financial Activities in the year to which it relates.

Income from investments is included in the Statement of Financial Activities in the year in which it is receivable.

page 10

EAST GRINSTEAD SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 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.

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries and their associated costs.

Support costs now include governance costs which are those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and other professional fees.

Allocation and apportionment of support costs

The main activity of the charitable company is the provision of leisure activities to the local community, so all costs related to this are classified as direct costs and all other costs are allocated as support costs.

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 Not depreciated Freehold buildings Straight line over 50 years Squash court components Straight line over 10-30 years Pitches Straight line over 10 years

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.

The residual value of the land elements of the pitches has been found to be in excess of the net book value of those assets. As such, no further depreciation is charged. The directors will review the residual value of the assets yearly. The surface elements of the pitches are still being depreciated in line with the depreciation policies set out above.

1.7 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.

page 11

EAST GRINSTEAD SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

1 Accounting policies

(Continued)

1.8 Financial instruments

The Charitable Company 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 Charitable Company's balance sheet when the Charitable Company 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 Charitable Company’s contractual obligations expire or are discharged or cancelled.

1.9 Taxation

The company has been granted charitable status and is therefore not liable to corporation tax.

2 Critical accounting estimates and judgements

In the application of the Charitable Company’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.

page 12

EAST GRINSTEAD SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

2 Critical accounting estimates and judgements

(Continued)

The main judgements and accounting estimates included in the accounts are:

Depreciation - Management has made assumptions and estimated depreciation rates in respect of showing a true and fair value of the assets at the balance sheet date.

Prepayments and Accruals - Management has made estimates and established prepayments and accruals in respect of potential assets and liabilities as at the balance sheet date.

3 Donations

Unrestricted Total
funds
general
2022 2021
£ £
Donations 13 38,833

4 Provision of leisure facilities

2022
£
Grants
7,500
Affiliation fees
13,908
21,408
Analysis by fund
Unrestricted funds - general
16,908
Restricted funds
4,500
21,408
5
Other trading activities
Unrestricted
funds
general
2022
£
Letting and licensing arrangements
16,791		 2021
£
52,238
12,788
65,026
62,073
2,953
65,026
Total
2021
£
-

page 13

EAST GRINSTEAD SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

6 Investments

Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
general
2022
2021
2021
£
£
£
Rental income
39,250
12,469
-
Interest receivable
13
7
26
39,263
12,476
26		 Total
2021
£
12,469
33
12,502

7 Other income

Unrestricted Total
funds
general
2022 2021
£ £
Other income 500 -

page 14

EAST GRINSTEAD SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

8 Charitable activities

Depreciation and impairment
Donations/support for sports
Sporting Initiatives
Repairs, maintenance and improvements
Insurance
Sundry Expenses
Governance costs (see note 9)
Analysis by fund
Unrestricted funds - general
Unrestricted funds - designated fund
Restricted funds
Support costs
Support costs
Governance
costs
£
£
Accountancy
-
3,250
Legal and professional
-
630
-
3,880
Analysed between
Charitable activities
-
3,880		 Provision of
leisure
facilities
Provision of
leisure
facilities
2022
2021
£
£
27,793
27,795
-
27,217
-
53
10,437
24,457
13,174
12,097
-
2,775
51,404
94,394
3,880
4,093
55,284
98,487
26,442
30,752
27,793
27,795
1,049
39,940
55,284
98,487
2022
Support costs
Governance
costs
2021
£
£
£
£
3,250
-
3,000
3,000
630
-
1,093
1,093
3,880
-
4,093
4,093
3,880
-
4,093
4,093		 Provision of
leisure
facilities
Provision of
leisure
facilities
2022
2021
£
£
27,793
27,795
-
27,217
-
53
10,437
24,457
13,174
12,097
-
2,775
51,404
94,394
3,880
4,093
55,284
98,487
26,442
30,752
27,793
27,795
1,049
39,940
55,284
98,487
2022
Support costs
Governance
costs
2021
£
£
£
£
3,250
-
3,000
3,000
630
-
1,093
1,093
3,880
-
4,093
4,093
3,880
-
4,093
4,093
94,394
4,093
98,487
30,752
27,795
39,940
98,487
2021
£
3,000
1,093
4,093
4,093

9 Support costs

Governance costs includes payments to the accountants of £4,000 for independent examination fees (2021- £3,000).

10 Net movement in funds
Net movement in funds 2022 2021
£ £
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets 27,793 27,795

page 15

EAST GRINSTEAD SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

11 Trustees

Trustees' Remuneration and Benefits

There were no trustees' remuneration or other benefits for the year ended 30 September 2022 nor for the year ended 30 September 2021.

Trustees' Expenses

There were no trustees' expenses paid for in the year ended 30 September 2022 nor for the year ended 30 September 2021.

12 Tangible fixed assets

Freehold land
£
Cost
At 1 October 2021
2,120,531
At 30 September 2022
2,120,531
Depreciation and impairment
At 1 October 2021
229,754
Depreciation charged in the year
6,567
At 30 September 2022
236,321
Carrying amount
At 30 September 2022
1,884,210
At 30 September 2021
1,890,778		 Pitches
£
2,124,060
2,124,060
1,589,276
21,226
1,610,502
513,558
534,784		 Total
£
4,244,591
4,244,591
1,819,030
27,793
1,846,823
2,397,768
2,425,562

Freehold land and buildings were donated to the charity at a value of £1,586,364 during the year ended 30 September 2003.

Freehold land was donated to the charity during the year ending 30 September 2017 with a value of £50,000, and during the year ending 30 September 2019 with a value of £80,000.

All freehold land and buildings are included in the financial statements at lower of cost, donated value or residual value agreed by the directors. In the opinion of the directors, the open market value of the freehold land and buildings is not less than the stated value.

In respect of the loan taken out from Barclays Bank in September 2008 (See Note 14), there is a legal charge over the land and buildings of East Grinstead Sports Club. This charge was satisfied upon repayment of the loan and the charge de-registered from Companies House on 13 December 2022.

There is a second legal charge over the netball courts in favour of Sport England, and a third over the squash courts in favour of England Squash and Racketball.

page 16

EAST GRINSTEAD SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

13 Debtors

13
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
VAT
14
Loans and overdrafts
Loans
Payable within one year		 2022
£
-
-
-
-
2022
£
50,080
50,080		 2021
£
16,423
12,729
643
17,348
2021
£
50,080
50,080

In December 2005, the charity entered into a loan agreement with D Brown, with an amount of £98,000 at an interest rate of Nil%. This loan is currently repayable at £1,000 per calendar month, although part of the loan was written off in 2019. It was agreed from June 2017 that the repayments would be suspended. The situation is reviewed annually, with the suspension of payments still in place as at 30 September 2022.

In September 2008, the charity entered into a loan agreement with Barclays Bank Plc, with an amount of £100,000 at an interest rate of 2% over the Barclays Base Rate. This loan was repaid monthly over a period of 10 years. As part of the agreement, Barclays Bank Plc has security by way of a charge over: Leisure Centre, Saint Hill Road, East Grinstead, a property owed by the charity. This loan was fully repaid as at the end of September 2018. The charge was removed on 13 December 2022.

In July 2010, the charity entered into a loan agreement with D Brown, with an amount of £100,000 at an interest rate of 4%. This loan is repayable at £1,027 per calendar month, inclusive of interest, although repayments continue to be suspended as at 30 September 2022. The situation will be reviewed annually.

15 Creditors: amounts falling due within one year

Notes
Loans
Other taxation and social security
Deferred income
Other creditors
Accruals		 2022
£
50,080
1,403
1,276
960
2,250
55,969		 2021
£
50,080
888
1,276
16,700
2,000
70,944

page 17

EAST GRINSTEAD SPORTS CLUB LIMITED

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

16 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 Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 October 2020 resources expended 1 October 2021 resources expended 30 September
2022
£ £ £ £ £ £ £ £ £
3G pitch fund 1,043 - - - 1,043 - - - 1,043
Squash court sinking fund 12,161 1,380 (4,140) - 9,401 - - - 9,401
Hockey fund (at 30 Sept CAF
America/Brightfunds) 3,707 32,947 (27,217) - 9,437 - - (4,454) 4,983
Hockey Pitch Sinking Fund 28,552 2,651 - 2,250 33,453 4,500 - 4,454 42,407
Netball Fund 8,789 500 (3,130) - 6,159 - - - 6,159
Badminton Fund 3,993 - - - 3,993 - - - 3,993
Cricket Fund 6,013 1,284 (2,500) - 4,797 - (1,049) - 3,748
Park Run - 53 (53) - - - - - -
Covid restricted grants - 2,900 (2,900) - - - - - -
64,258 41,715 (39,940) 2,250 68,283 4,500 (1,049) - 71,734

page 18

EAST GRINSTEAD SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

16 Restricted funds

(Continued)

The 3G pitch fund represents amounts received and expended for construction and maintenance of the 3G pitch.

The Squash court sinking fund represents restricted income and expenditure relating to the squash courts at the club, and their ongoing maintenance and repair.

The Hockey fund represents restricted income and expenditure relating to the provision of hockey activities and facilities.

The Hockey Pitch Sinking Fund represents donations and grants received specifically for the improvement and maintenance of the hockey pitch.

The Netball fund is set aside for the future income and expenditure on projects relating to the netball courts.

EGSC is working with a local group that has set up, and is operating, a weekly Park Run event in East Grinstead. The Directors have received grant funding to assist with this project and have set up a separate fund in the accounts.

The Cricket Fund represents restricted income and expenditure relating to the provision and support of cricket activities and facilities.

The Badminton fund is set aside for future income and expenditure on projects relating to the provision of facilities used for badminton.

The Covid restricted grants fund is monies received for the purpose of specific costs that have arisen during the period when the facilities were closed or restricted due to COVID-19. All expenditure was in line with the purposes set out in the grant applications and agreed by the relevant funding bodies.

page 19

EAST GRINSTEAD SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

17 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the Directors for specific purposes:

Balance at
1 October 2020
£
Land building and pitches
2,453,356
Development projects
47,342
2,500,698		 Resources
expended
£
(27,795)
-
(27,795)		 Transfers
Balance at
1 October 2021
£
£
-
2,425,561
39,750
87,092
39,750
2,512,653		 Resources
expended
Balance at
30 September
2022
£
£
(27,793)
2,397,768
-
87,092
(27,793)
2,484,860		 Resources
expended
Balance at
30 September
2022
£
£
(27,793)
2,397,768
-
87,092
(27,793)
2,484,860
2,484,860

The Land and Buildings Fund is set aside to represent the charity's use of land and buildings.

The Development projects fund has been set up to meet expenditure on projects that have been agreed upon by the Charity, or are envisaged within the Charity's future plans, as at 30 September 2022.

page 20

EAST GRINSTEAD SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

18 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Designated
funds
Restricted
funds
2022
2022
2022
£
£
£
Fund balances at 30 September 2022 are represented by:
Tangible assets
(87,092)
2,484,860
-
Current assets/(liabilities)
153,312
-
71,734
66,220
2,484,860
71,734		 Total
Unrestricted
funds
Designated
funds
2022
2021
2021
£
£
£
2,397,768
-
2,425,562
225,046
19,187
87,091
2,622,814
19,187
2,512,653		 Restricted
funds
2021
£
-
68,283
68,283		 Total
2021
£
2,425,562
174,561
2,600,123

page 21

EAST GRINSTEAD SPORTS CLUB LIMITED

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

19 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

page 22