Company registration number: 04324630 Charity registration number: 1091712
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Chairman's statement | 2 |
| Trustees' report | 3 - 11 |
| Trustees' responsibilities statement | 12 |
| Independent examiner's report | 13 |
| Statement of financial activities | 14 |
| Balance sheet | 15 - 16 |
| Notes to the financial statements | 17 - 32 |
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
| Trustees | David Robinson, Chair |
|---|---|
| Cornelia Abe-Minale | |
| Faye Jeacocke (resigned 30 September 2022) | |
| Gavin Lau (resigned 2 February 2023) | |
| Anna Trihan (resigned 31 May 2022) | |
| Hugh Murdoch (resigned 19 August 2022) | |
| Alf Vickers | |
| Elizabeth Venables | |
| Lily Zechman (appointed 11 June 2022) | |
| Matthew Dawson (appointed 8 November 2022) | |
| Jade Dos Santos (appointed 5 September 2023) | |
| James Hirst (appointed 22 June 2023) | |
| Alan Macdonald (appointed 22 June 2023) | |
| Nathaniel Rowland (appointed 22 June 2023) | |
| Valerie Wong (appointed 8 November 2022) | |
| Company registered | |
| number | 04324630 |
| Charity registered | |
| number | 1091712 |
| Registered office | 24 Blackberry Court |
| Woodmill Road | |
| London | |
| E5 9GE | |
| Independent Examiner | MHA |
| Chartered Accountants | |
| 910 The Crescent | |
| Colchester Business Park | |
| Colchester | |
| Essex | |
| CO4 9YQ | |
| Bankers | HSBC Plc |
| 20-21 Electric Parade | |
| George Lane | |
| London | |
| E18 2LX |
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VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2023
The chairman presents his statement for the year.
Thanks to the Bar & Social Events Team: Susan, Sophie & Marlis.
Clubhouse
This year we have completed some improvement works at the clubhouse. We have refurbished and altered the layout of rooms within the first floor of the Annexe creating a large Pilates / Yoga studio and a treatment room. This has further increased activity and use of the clubhouse facilities by a wider section of our local fitness community. We have worked with Sam White (Victoria Park Pilates) and Joe Dale (Victoria Park Sports Medicine) in these new projects.
We have also revived the heating system in the Hall with a new boiler and fan convector heaters plus radiators in the Weights room which also doubles up as a Podiatrist’s treatment room on Fridays. We are very fortunate to continue to have Fabien (Victoria Park Fitness) operating in the Hall. He is a great asset to the club and many of our members continue to benefit from his strength and conditioning training.
We still have a Taekwondo Group that use the hall on Saturday afternoons and another group on Monday and Wednesday afternoons.
Mile End
The track at Mile End is managed by GLL for Tower Hamlets. The dedicated track entrance has not re-opened since Covid and users access the track via the Leisure Centre. Junior club members and club coaches running junior sessions have free access to the track and now use a separate entrance. This is rather unsatisfactory and we hope to improve this arrangement with GLL. The Gym at the track is also closed and cannot be used at present. Whilst the management of this facility presents some difficulties, our coaches will continuing to hold junior training sessions through the winter months and will prepare for the 2022 track season.
The extent to which we manage to involve more helpers, members and parents to undertake officials training, volunteering and event organising will influence our ability to host and participate in track competition in 2022.
Club Website
Competitive quotes were obtained and the Board have engaged Dave Finch, club member and website designer to build a new ‘more user friendly’ website.
Huge thanks to Joe Feltham who has managed the website over recent years and who will assist along with a small steering group to work with Dave to bring this about.
VPH&THAC
On behalf of the Board, I wish you all safe and well over the coming club year and many thanks to all existing and our many new club members for what you all bring to the club, for your achievements big and small that we all enjoy and celebrate. We are committed to our ethos of maintaining a strong, caring and supportive club, ready to grasp every opportunity and work our way back to where we were before Covid and building on the reputation and achievements we’ve gained in recent years and on an exciting bunch of newer members.
................................................
Dave Robinson Chair Date:
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(A company limited by guarantee and registered charity)
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report together with the financial statements of the Charity for the year ended 31 March 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution:
Victoria Park Harriers & Tower Hamlets AC is a company limited by guarantee which is also registered as a charity and is under the management of a Board of Trustees. Victoria Park Harriers & Tower Hamlets AC was registered as a charity with the UK Charity Commission on 23 April 2002.
Purposes:
The purpose of the Charity, as per its Memorandum and Articles of Association, is the provision of facilities for public recreation or other leisure time occupation and in particular athletics in the interest of social welfare, with the object of improving the conditions of life of those who reside and work within East London. The main activities undertaken in relation to the purposes of the Charity, as per its governing document, have been described further in the Activities and Achievements section of this report.
Public Benefit:
In setting objectives and planning for current and future activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to Public benefit, including the guidance 'Public benefit: running a charity (PB2)'. All activities have been undertaken for the furtherance of Public Benefit.
Method of appointment or election of Trustees:
The articles of the Charity state there should be a minimum of three trustees. At every annual general meeting one third of the trustees who are subject to retirement by rotation or, if their number is not three or a multiple of three, the number nearest to one third retire from office.
No person other than a trustee retiring by rotation shall be appointed or reappointed a trustee at any general meeting unless he is recommended by the trustees, or a notice proposed by a member eligible to vote at the meeting, and executed by the proposed person, has been given to the trustees within set time limits before the AGM as prescribed in the articles of the Charity.
Organisational structure and decision making:
The business of the Charity is managed by the trustees who may exercise all powers of the Company.
ACTIVITIES AND ACHIEVEMENTS
Women’s Road and Cross Country Report – Lily Zechmann
Introduction
Serving as Women’s Road and Cross-Country Captain for the past 6 months, having taken over from Annie in June. So far, it’s been very busy with races happening left, right, and centre and marque leagues keeping me on my toes! I am thoroughly enjoying my role.
This year I was able to get involved with the SAL events which seemed to be back in full swing since Covid. It was certainly an enjoyable event which brought many athletes in the club together, and a big reminder of the great team vibe we have in the club – especially during the quiet summer seasons.
Training on the track and at Project V continues and we see the benefits this has had on members especially when put into practice at the races. At the races, we have demonstrated great team spirit by working together
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VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
and cheering each other on.
Every Thursday we welcome a handful of new joiners. It’s been lovely to see how quickly new members have integrated into the team and have enjoyed everything this great club has to offer.
Summer 2022
We returned to the Southern Athletics League this summer after the long Covid break. There was strong representation in our home match at Mile End (with the ladies taking 1 st place in 800m, and 5000m race). We also saw athletes heading up to the last event in Kings Lynn. Bravo to our ladies who pushed beyond their comfort zone to sign up to the events that they’ve never done before – Anna Fiedlerova and Hazel Norton-Hale in the 400m Hurdles, Ellie Daglish and Eilidh Wagstaff in the Steeple Chase, Anna also doing the long jump. Sadly, we did get relegated – mostly due to low turnout at other events
when the heatwave hit – we know that this is something where we can work on and will come back fighting next year – with the goal of filling all events next year. We are so proud of our ladies who stepped up to help us score, this is what team spirit is all about!
We also participated in a number of relay events over the summer. Our ladies team was in podium position at the Bridges Relay in August by the O2 Arena. The ladies A team coming home to 1st position and the B team placing 6th – Well done to all, to name a few Valerie Wong, Lydia Briggs, and Claire Hartley.
The Southern and National road relays in September saw another strong performance from our ladies team, finishing in podium position 3rd. Congratulations to Sophie Allen, Laura Thompson, Laura Kaye, and Hannah Somani.
Towards the end of Summer we hosted the Middlesex 10K in Victoria Park, with a handful of medals being won from our ladies. June Barrow-Green, Nicola Kerr, and Susan Leese all claiming silver. The Bronze went to Lily Zechmann, June Barrow-Green, and Nicola Kerr.
Autumn/Winter 2022
Stepping into the colder months, we were unexpectedly blessed with warmer weather in our Cross Country events.
Met League has kicked off to a great start, with around 28 ladies taking part in the first fixture at Claybury in October, and 23 female runners at Wormwood scrubs in November. Wormwood Scrubs never looked so pretty, though some of us miss the muddy and gloomy trademark of this course. We are now in a strong 2nd position – keep up the excellent work ladies!
The Chingford League also saw a strong start for our ladies, with three races completed and three more to go, we are leading in 1st position!
The results so far
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Women’s Overall – 1 st
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Women’s Vets – 3 rd
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Women’s B team – 1 st
As ever, a huge thank you to Joyce Berry for all her organisation efforts in making the Chingford League happen.
Road
Marathons and Half marathons were back into full spring in 2022. Our local event, the Hackney Half in May and The Big Half saw mass participation from VPHers, the roads were coloured in Jade and Blue.
Our ladies participated in marathons all around the country and in various parts of the world – running in Brighton, Manchester, London, and Berlin. Faye Jeacocke and Laura Thompson showcase great performance in London. Mandy Dohren and Hannah Somani running a sub-3 in Manchester. As always, the atmosphere of the London Marathon was unbeatable, and a reminder of how great this sport is – for the runners as well as those supporting and cheering on.
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VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
A big thank you!
There are so many members of the club that we want to recognize, for their continued contribution and efforts in sustaining and maintaining the club: Chairman Dave, and everyone on the Board; Major Carr, Simeon Bennett, and Neil Cook all their work behind the scenes; Len Williams and Richard Norton-Hale for support of the handicaps and Club Championships; everyone at the Bar Staff, including Susan Leese, Sophie Critchlow, Helen Goddard and Marlis Haase. Our coaches, Coach Mick and Coach Steve for their continued efforts on the Track and Project V sessions. Our race managers, Andre Dahlkamp and Anna Fiedlerova, for organizing the handicap races. And lastly, the volunteers who have stepped up to help at the races!
Outlook for 2023
As 2022 comes to a close, we have plenty of things to celebrate – the membership continues to grow and we continue to encourage people to take part in weekly runs at the clubhouse as well as the races.
The goal for next year is to continue increasing participation race events, including Athletics and get out of relegation, and to drive diversity and bring new people into the club!
Men’s Road and Cross Country Report – Gav Lau
Our club is on a journey…
The first important point I would like to open with, is for each of us to pause, and acknowledge the journey that the club has endured and persisted through in the last 5, 10, 20+ years. The cross section of the membership today includes many junior athletes, a relatively even split of male and female members, and broad participation across the full range of age categories. Stepping into our community with VPH&THAC today is the result of careful and significant investment of time and commitment to follow things through. Some individuals have come and gone. A special few continue to be active with the club today.
As a club member myself, I expect to be able to have access to as many of the facilities and as large a variety of events as possible, be kept informed of current developments and be able to do so in a friendly and inclusive environment.
To this end there are three recent initiatives that come to mind that have been a priority for the board that should be ready to share with the membership in the new year: (1) the development of a new club website (merging a lot of the information flow about the club and live events that is currently fragmented across many sub-standard channels); (2) the next phase of advertising club roles and making it more accessible for any members to review the nature of each role, time commitment expected and clear method to register your interest; (3) integration of the recent board appointments to function as a new unit, now representing more recent joiners. To improve on the communication of the governance structure and policies. Also the perception of how the board interacts and connects with the membership.
Notable contributions
Every week, I am reminded about the pull of the club spirit and it is clear for us all to see that so many among us are willing to nurture the culture and values we as a community enjoy. Simply to ‘play’ and ‘run’, to make new friendships, to listen to each others’ experiences and backgrounds, to share other hobbies and interests outside of running. Each year, I reflect on some standout individuals that make material contributions:
A formal personal thank you to Captain Annie Trihan in her capacity as the Women’s road and XC Captain. A pleasure to get to know and work side by side with someone so passionate about our club spirit, fiercely loyal to all of us, has a competitive edge and simply the most infectious smile when you are knee deep in mud and can’t find a hot drink! Working with the board and our volunteers to deliver some routine sessions during covid as a sanctuary or pocket of normality for our local group was a huge challenge. It taught me a lot about putting faith in other people, recognising and accepting goodwill and positive gestures openly. And that a group committed to a cause coupled with patience and graft, would bring an outcome close to what was envisaged and scribbled on a piece of paper back at the start!
A whole hearted welcome to Lily Zechmann who has showed such credible commitment to get involved from the outset and is clearly getting into her stride as the busy winter season continues.
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VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Please join me to recognise the efforts from our ever present roster of Coaches Tony Bunbury, Mick Cairns and Steve Hobbs. Often the first individuals that new and prospective club members get to meet. Getting familiar with training together in groups, building our confidence around strength and conditioning equipment, doing intervals on a purpose built track or committing to regular hard workouts. Props to Simeon Bennett, Joe Dale and Hugh Murdoch (to name a few) for stepping in to cover sessions on occasions on short notice. And the same sentiment extends to all our amazing track and field based coaches operating at Mile End.
The club handicap has continued to be such a popular cornerstone of our social group nights. The numbers participating have shot up and leveled around 70+ runners over the summer on the fast and flat 5 mile course. A thank you to the reliable cohort of: Major Carr, Ray Russo, Richard Hale, Len Williams. And to more recent club members contributing to the monthly preparations: Anna Fiedlerova, Andre Dahlkamp, Valerie Wong, Katrin Flikschuh.
A huge shout out to the entire women’s teams that deliver the loudest cheers of any team on every single race day. Regardless if the rain is sideways, or the hail is coming down the size of golf balls, the VPH women will be spread across the course, willing the front of the pack home until the last of our team are safely back across the finish line.
One of the most important secrets to a strong and healthy runner, is to be fed and hydrated well! And the social hub that waits for us after every thursday evening social run at the clubhouse is of thanks to David Wilkey, Susan Leese, Sophie Critchlow, Paul Turley and all the diligent chefs and bar helpers. This is another hallmark of our club spirit. We are very well looked after, and often spoilt! Please do volunteer to clear up, wash up, take the bins out. Many hands make light work and it shouldn’t just be the few that stay late and clear up after us every week. There are far more names I should mention and thank. I hope that you have received this message from me directly already when we have spent time together at the clubhouse, on race day or out on a field in the jade & blue!
Winter & Spring 2021/22
• The season kicked off with the Flowers mile on 2nd Sep. Nat Rowland came home in 1st place in 4:47 with Ethan Gray (U17B) crossing the line as 1st junior in 5:02.
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This also marked the start of the Boswall league, with the following club events included (alongside the
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other league and champs fixtures): Flowers mile, 10M road and 5M XC. The full list of winners and individual standings are presented separately during the AGM:
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Congratulations to the overall Boswall League men’s winner: Jamie Cornuaud (1st). Joe Dale (2nd), Andrew
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Barrington (3rd).
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Age Category winners: Simeon Bennett (V40); Russell Toone (V50); William Burbridge James (V60).
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Consistent racing from Simeon Bennett participating in the most races 13/20 across the series.
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Kudos to other runners that clocked up at least 10 races: Joe Dale, Russell Toone, Tim Murray.
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The Chingford league returned for a full season. Under the careful stewardship of Joyce Berry. Starting with
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a rare daytime outing to Hog Hill on Sat 18 Sep. All 6 races were completed as planned with the season finale relays at Wantstead flats giving the spikes one final spin:
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Teams:
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Division 1M: 1st
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Division 1M Vets: 3rd
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B teams M: 1st
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Individuals:
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SM: Jamie Cornuaud 2nd
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SM: Zak Knill 3rd
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MV40: Joe Dale 6th
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MV50: Anthony Withstandley 8th
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MV60: Keith Mussington 4th
• The Hackney Half, on Sun 26 Sep, now seen as an adopted home fixture with so many fellow VPH’ers taking part. Some also racing in the club colours for the first time and experiencing the full scale of support and noise from those of us spectating and volunteering on the day. Fast forward to Sat 22 May and the same Hackney carnival pushed our runners to the finish line nestled in Hackney Marshes. The clear stars of the show
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VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
being the VPH volunteers stationed at the Cadogan Terrace water station!
• The preamble of the Big Half gave reason for all our club runners a cheer. Then the London marathon race day landed in our sights, in the unusual autumn setting on Sun 3 Oct. And the VPH cheer squad was out in force. Our club runners diligently training in the summer months had their time to shine and run the course in celebration to welcome back this iconic race.
• The Met league didn’t disappoint with Race 1 hosted at Claybury Park on Sat 16 Oct. Highgate unfortunately proved too strong for another year, taking the overall team championship, and our club is building a great reputation for bringing out a large team across the day of races. The strength and depth now developing across the competitive age categories is something to be very proud of. Individuals racing their hearts out all over again at Welwyn Garden City, Uxbridge and Wormwood Scrubs (with the final fixture at Trent Park unfortunately canceled on short notice due to bad weather):
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Howards Williams Trophy (seniors): 3rd
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Division 1M: VPH A 2nd; VPH B 9th
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Division 1M Vets: VPH A 2nd; VPH B 12th
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With races rolling through the weekends to the end of 2021, the next marque fixture in our calendar to take
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place was the 5k Mob Match with Eton Manor on Tue 11 Jan. Hosted by our friendly neighbour at Jubilee Park. An impressive 91 VPH runners on the night with Joe Dale breaking the tape in 16:12 and Laura Thompson 1st female in 19:24.
Summer 2022
• The club competed in Division 2 East of the Southern Athletics League during the summer months. The interest and participation of our classic road & XC membership has been very gradual across recent years and word of mouth is now certainly spreading that this is another fantastic way to compete for the club and be introduced to other members. Thank you to both Cornelia Abe-Minale and Tony MacDowall for organising and managing the teams throughout this season. Many participants also showed great camaraderie to compete in multiple events and braving the jumps and steeple chases to get points on the board. We were unfortunately relegated to Division 3, having finished in 14th place (out of 16), and that was only due to lack of numbers to score across the events. There is no qualifying time requirements with track & field events being open to all, and our senior and junior athletes racing together as a combined team. We look forward to seeing more returning and first-timers for 2023. Please get in touch with one of the track coaches or road captains to find out more about the events, changes to practice and how to register.
• The Assembly league was tentatively introduced with a condensed league covering only 3 fixtures. With the opener in Beckenham Park and two events hosted by our club in Victoria Park. Participation numbers were impressive and a real buzz to the summer series from our members as well as our familiar competitors.
• We are very lucky to have an area of beauty such as Epping Forest so close to our local area, and many club members flocked to the Forest Five series with smiles on faces and trail shoes in the kit bag! The Orion 15 event also took place on 26 Mar, with Pete Dyson (1st) and Fabien Lassonde (2nd) making it on the overall podium.
• As the end of the summer holidays nears, the summer BBQ on Sat 6 Aug was preceded by the infamous “chunder mile”. A compact group of three jolly and sheepish competitors brought their own nutrition and toed the line for 4 laps of joy around the cinder track. Props to Dom Howarth (4:36) retaining the title from 2021! Arif Erdogan 2nd and Oliver Jamieson (3rd).
• The annual Southern and National Road Relay events showcase the best athletics clubs across the grass roots level. VPH&THAC were able to field a women's team in the 4-stage race, and two men's teams in the 6- stage race for 2022.
• The men's A and B team competed at the Southern relays event at Crystal Palace, with other prominent clubs also racing at Aldershot on the same day. Our A team, coming 1st at the Crystal Palace event, running a total time of 1hr51m00s was made up of: Alex Lawrence (17:20.40), Adam Millbery (18:09.70), Jack Bibbings (18:35.75), James Hotham (18:49.15), Matt Stevens (19:11.20) and Greg Divall (18:54.6) to win our clubs' biggest relay title to date.
• A very strong roster of 74 mens teams competed in the National Road Relay, with Aldershot Farnham & District taking the win in 1hr43m37s. The mens team raced well to place 44th in a combined time of 1hr53m55s: Adam Millbery (18:17); Jack Bibbings (18:25); James Hotham (18:50); Greg Divall (19:24); Jamie Cornuaud (19:21) and Nick Sharp (19:38). Fantastic achievement for all involved and a big milestone for the club to be
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VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
competitive in such a high quality field!
Looking ahead to 2022/23
I expect VPH&THAC to push forward on two fronts in sporting context: (1) remain competitive at the top end of the racing calendar, with a strong squad being developed across all distances; (2) encouragement for any member to try out new training sessions, explore a new event on a different running surface / longer race distance / a different city or country.
Give any member the equal chance to represent the running club for the first time and share in the identity of wearing the jade & blue vest stood side by side with your team mates. For the above to succeed, we have the universal and tenacious club spirit that is constantly being reinforced after each club event. Promoting the team aspect and celebration of individual achievements alongside a strong shoulder to lean on at times of disappointment or temporary set backs through injury.
Final Words
As individuals, we all aspire to be respectful, kind and empathetic. These are the values I hope we can preserve within our growing community. Reflecting on the last 12 months, the clubhouse gates remain wide open as they always have been, and we are welcoming in a membership that continues to be diverse in background, experiences and opinions.
I believe we are at an important inflexion point where we should be patient and listen to each other, make compromises, be open to change and approach each conversation constructively and with an open mind. This becomes the next evolution of the club, and I am sure it will look different to today, also for the better in years to come.
Juniors Report – Cornelia Abe-Minale
Middlesex County T & F Championships
The number of junior athletes competing in the County Championships was significantly lower than in previous years. Nonetheless our athletes achieved 3 gold, 5 silver and 6 bronze medals.
Middlesex County Cross Country Champs
5 of our junior athletes achieved top 10 positions. Lyra MacDonald winning the U15G and Luca Minale coming 2 nd in the U20M.
Track and Field Leagues
Our club competed with the younger age group U13/15 in the Youth Development League, Southern Division 2B. Our target for this league was to achieve a mid-league ranking. We successfully reached this target. The fact that many of our parents undergone Track and Field officials training and were able to help us reach the necessary officials quota made a positive difference.
The older age group U17/20 competed in the Upper age group league Division 2B. For this league we were competing as a composite team with London Heathside and Highgate Harriers.
As in the new season many of our strongest athletes moving up into the Upper League we have decided to compete 2023 as a single club in this league.
The U17/20 juniors also competed in the Southern Athletics League. All athletes done well in the SAL, however to improve our league position in the future the number of attending adult athletes will have to increase for all league matches.
Track and Field after Covid
The junior training is slowly recovering from the declining numbers after Covid. The sprinters training was massively impacted by the suspension of Head Coach Alf Vickers. Since Alf’s return to the track, training is now gaining momentum. The ongoing dispute over the gym use with Tower Hamlets Council has also been a large factor for the overall underperformance of the T& F team. All trainings groups still only using the stadium
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VICTORIA PARK HARRIERS AND TOWER HAMLETS AC
(A company limited by guarantee and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
grandstand for their Strength & Conditioning sessions. We are hoping to come to an understanding with the council before Christmas in order to start with much needed refurbishment of the gym asap.
English Schools Championships
2 of our athletes qualified for the ES Cross-country champs (Lyra MacDonald and Ruby James) and 2 athletes achieved ES track and Field qualification (Lyra MacDonald 1500m and Michelvi Wamba 200m)
Outstanding athletes of 2021/22
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Laureen Okagbenu U15G Hammer, Laureen has improved her performance over a very short time and is
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now 24 th in the UK ranking with 33.25m
• Lyra MacDonald U15G 800/1500m, Lyra has continued to produce top National performances during the T&F and Cross Country season
FINANCE REVIEW
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Overview
Cash flow was positive this year with higher subscriptions, stable revenue from HQ hire, partially offset by club activities and races, as well as the maintenance and renovation we were able to complete.
Investment in assets
The following investments have been made in the current year:
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Website upgrade: A new club website has been created and launched (as of October 2023).
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- Renovation work at the cottage that is rented out.
The following investment is planned for the current year:
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Repainting of the hallway and stairway next to the bar;
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A treatment room to be created in the small gym room on the ground floor following consultation with Victoria
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Park Sports Medicine and Victoria Park Fitness, providing additional capacity for sports treatment to club members and the local community.
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VICTORIA PARK HARRIERS AND TOWER HAMLETS AC
(A company limited by guarantee and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Financial highlights
Income
A breakdown of the last 4 years recurring income streams is provided below.
Recurring income (£)
Membership subscriptions – 8% increase with subscriptions now slightly above pre-pandemic level.
Cottage rent – income from the cottage was as slightly higher at £20.9K
HQ Hire – the conversion of the first floor to a studio and treatment room has substantially increased the revenue from HQ hire.
Expenditure
Travel and subsistence costs were higher than previous years as events returned (£7,446 in 22/23 vs £3,218 in 21/22 although still lower than £10,717 in 19/20)
There were some coaching fees incurred for the Come and Try Athletics events that were able to take place. These are funded either by schools providing income or by specific grants (i.e. LBTH mainstream grant).
Affiliation, track and race entry fees decreased from prior year (£15,580 in 22/23 vs £22,030 in 21/22).
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VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Cash Flows
The table below gives the closing cash position at the last two financial year-ends and also at end September 2022. The club benefited from reduced outgoings in 20/21 and have used this money to renovate the committee room into a studio for hire. The club’s calculated minimum cash reserve is 6 months expenditure, approximately £25,000.
Reserves policy
The trustees consider that an appropriate level of reserves in respect of unrestricted funds is an amount to generate a working capital to cover approximately six months of the charity’s annual costs excluding expenditure chargeable against the restricted income and funds and designated reserves. Based on the charity’s level of activity it is considered that a minimum appropriate level of unrestricted funds would be £25,000.
Future plans
The following investments are in process or planned for the current year:
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Repainting of the hallway and stairway next to the bar;
-
A treatment room to be created in the small gym room on the ground floor following consultation with Victoria
-
Park Sports Medicine and Victoria Park Fitness, providing additional capacity for sports treatment to club members and the local community.
-
There are plans to invest in the gym at the Mile End track.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
David Robinson Chairman Date: 31 January 2024
Page 11
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023
The Trustees (who are also the directors of the Charity for the purposes 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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.
Approved by order of the members of the board of Trustees and signed on its behalf by:
----- Start of picture text -----
................................................
----- End of picture text -----
................................................ David Robinson Chair
Date: 31 January 2024
Page 12
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023
Independent examiner's report to the Trustees of Victoria Park Harriers and Tower Hamlets AC ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023.
Responsibilities and basis of report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the 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 accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Dated: 31 January 2024
Cara Miller ACCA
MHA
Chartered Accountants, 910 The Crescent, Colchester Business Park, Colchester, Essex, CO4 9YQ
Page 13
(A company limited by guarantee and registered charity)
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023
| Note Income from: Donations 4 Charitable activities 5 Other trading activities 6 Bank interest receivable Total income Expenditure on: Charitable activities Total expenditure Net expenditure before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 300 55,053 55,701 229 |
Restricted funds 2023 £ - - - - - - - - - - 5,084 - 5,084 |
Total funds 2023 £ 300 55,053 55,701 229 |
Total funds 2022 £ 308 55,081 47,051 66 |
|---|---|---|---|---|
| 111,283 | 111,283 | 102,506 | ||
| 111,501 | 111,501 | 117,649 | ||
| 111,501 | 111,501 | 117,649 | ||
| (218) (1,029) |
(218) (1,029) |
(15,143) 1,366 |
||
| (1,247) | (1,247) | (13,777) | ||
| 1,244,403 (1,247) |
1,249,487 (1,247) |
1,263,264 (13,777) |
||
| 1,243,156 | 1,248,240 | 1,249,487 |
All income and expenditure derive from continuing activities.
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 17 to 32 form part of these financial statements.
Page 14
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity) REGISTERED NUMBER: 04324630
BALANCE SHEET AS AT 31 MARCH 2023
| Fixed assets Note Tangible assets 10 Investments 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts due within one year 13 Net current assets Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
5,634 179,549 |
2023 £ 1,049,452 19,036 1,068,488 179,752 1,248,240 5,084 1,243,156 1,248,240 |
4,986 152,584 |
2022 £ 1,081,455 20,065 |
|---|---|---|---|---|
| 1,101,520 147,967 |
||||
| 185,183 (5,431) |
157,570 (9,603) |
|||
| 1,249,487 | ||||
| 5,084 1,244,403 1,249,487 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
David Robinson Chair
Date: 31 January 2024
Page 15
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. General information
Victoria Park Harriers and Tower Hamlets AC is a charitable company limited by guarantee and is registered with the Charity Commission (Charity Registered Number 1091712) and Registrar of Companies (Company Registration Number 04324630) in England and Wales.
In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The address of the registered office is given in the Charity information on page 1 of these financial statements.
The nature of the Charity’s operations and principal activities are detailed in the Trustees' Annual Report.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) and the Companies Act 2006.
Victoria Park Harriers and Tower Hamlets AC meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.
The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest pound.
2.2 Going concern
The financial statements have been prepared on a going concern basis. The Trustees have considered relevant information, including the annual budget and forecast future cash flows in making their assessment. Based on these assessments and having regard to the resources available to the entity, the Trustees have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts.
Page 16
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the Charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
The Charity receives grants in respect of furthering its charitable objectives. Income from grants are recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Investment income is earned through holding assets for investment purposes such as shares and property. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 17
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.4 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.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, governance costs and administrative costs. They are incurred directly in support of expenditure on the objects of the Charity. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of the resources. Governance costs are those incurred in connection with the running of the Charity and compliance with constitutional and statutory requirements.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Page 18
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.7 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
Freehold property - 10 - 50 years Athletics equipment - 5 years
2.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Page 19
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.12 Financial instruments
The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the Charity are as follows:
Debtors - trade and other debtors (including accrued income) are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 12. Prepayments are not financial instruments.
Cash at bank – is classified as a basic financial instrument and is measured at face value.
Liabilities – trade creditors, accruals and other creditors will be classified as financial instruments, and are measured at amortised cost as detailed in Note 13. Deferred income is not deemed to be a financial liability, as in the cash settlement has already taken place and there is simply an obligation to deliver charitable services rather than cash or another financial instrument.
2.13 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 20
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
3. Critical accounting estimates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
-
Allocation of support costs
-
Depreciation rates for tangible fixed assets
4. Income from donations
| Unrestricted funds 2023 £ Donations 300 Total 2022 308 |
Total funds 2023 £ 300 308 |
Total funds 2022 £ 308 |
|---|---|---|
Page 21
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
5. Income from charitable activities
| Unrestricted funds 2023 £ Coaching income 7,200 Open 5 259 Membership subscriptions 47,207 Sale of club kit 387 Sponsorship income - Event hosting - Total 2023 55,053 |
Total funds 2023 £ 7,200 259 47,207 387 - - 55,053 |
|---|---|
Coaching income represents the provision of coaching to local schools, which is funded directly by London Borough of Tower Hamlets and / or the schools involved in the programmes.
| Coaching income Open 5 Membership subscriptions Sale of club kit Sponsorship income Event hosting |
Unrestricted funds 2022 £ - 1,329 43,443 1,281 2,848 155 49,056 |
Restricted funds 2022 £ 6,025 - - - - - 6,025 |
Total funds 2022 £ 6,025 1,329 43,443 1,281 2,848 155 55,081 |
|---|---|---|---|
Page 22
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Income from other trading activities
Income from fundraising events
| Unrestricted funds 2023 £ Cottage rental income 20,248 Hall hire 32,066 Bar sales 3,387 Total 2023 55,701 Total 2022 47,051 |
Total funds 2023 £ 20,248 32,066 3,387 55,701 47,051 |
Total funds 2022 £ 19,260 23,878 3,913 |
|---|---|---|
| 47,051 | ||
7. Analysis of expenditure by activities
| Providing facilities for public recreation Providing facilities for public recreation |
Activities undertaken directly 2023 £ 37,240 Activities undertaken directly 2022 £ 35,954 |
Support costs 2023 £ 74,261 Support costs 2022 £ 81,695 |
Total funds 2023 £ 111,501 |
|---|---|---|---|
| Total funds 2022 £ 117,649 |
Page 23
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
7. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Coaching fees Open 5 Awards Club Kit Travel and subsistence Affiliation, entry and track fees Medical cover Athletics equipment Analysis of support costs |
Total funds 2023 £ 6,840 - 925 5,689 7,446 15,580 462 298 37,240 |
Total funds 2022 £ 5,970 1,709 476 2,095 3,218 22,030 456 - |
|---|---|---|
| 35,954 | ||
| Depreciation Rates and utilities Insurance Repairs and Maintainence Sundry expenses Governance Website expenses |
Total funds 2023 £ 41,706 16,477 4,986 - 1,258 4,020 5,814 74,261 |
Total funds 2022 £ 62,075 9,410 3,727 745 718 4,020 1,000 81,695 |
|---|---|---|
All governance costs relate to independent examiners fees, further details of which can be found in Note 8.
Page 24
(A company limited by guarantee and registered charity)
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
8. Independent examiner's remuneration
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 4,020 | 4,020 |
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL)
The Charity has no employees (2022 - Nil) and the Trustees are considered to be the Key Management Personnel.
During the year ended 31 March 2023, expenses totalling £ 2,510 were reimbursed or paid directly to 3 Trustees (2022 - £2,048 to 3 Trustees) . Expenses relate to costs of hotel, travel, race entry, office and gym equipment.
Page 25
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
10. Tangible fixed assets
| Cost or valuation At 1 April 2022 Additions At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 |
Freehold property £ 1,740,747 9,703 1,750,450 659,292 41,706 700,998 1,049,452 1,081,455 |
Athletics equipment £ 71,230 - 71,230 71,230 - 71,230 - - |
Total £ 1,811,977 9,703 |
|
|---|---|---|---|---|
| 1,821,680 | ||||
| 730,522 41,706 |
||||
| 772,228 | ||||
| 1,049,452 1,081,455 |
The land and buildings were purchased by a club trust in 1961, which preceded the incorporation of the Charitable Company and was transferred to the Charity in 2003. The land and buildings were revalued by the Trustees in 2008. This revaluation (original value - £nil) is matched by a designated fund which reduces by the amount of depreciation each year.
Page 26
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
11. Fixed asset investments
| Cost or valuation At 1 April 2022 Revaluations At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 All fixed asset investments are held in the UK. |
i Listed vestments £ 20,065 (1,029) |
|---|---|
| 19,036 | |
| 19,036 | |
| 20,065 | |
12. Debtors
| Due within one year Prepayments and accrued income |
2023 £ 5,634 5,634 |
2022 £ 4,986 4,986 |
|---|---|---|
Page 27
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
13. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income |
2023 £ 1,851 3,580 5,431 |
2022 £ 1,851 7,752 9,603 |
|---|---|---|
Page 28
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
14. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds Building improvements Revalued property fund Gym refurbishment General funds General Funds Total Unrestricted funds Restricted funds Building Improvements Fitness for Sport Project Total of funds |
Balance at 1 April 2022 £ 73,455 1,008,000 3,000 1,084,455 159,948 1,244,403 4,443 641 5,084 1,249,487 |
Income £ - - - - 111,283 111,283 - - - 111,283 |
Expenditure £ - - - - (111,501) |
Transfers in/out £ - (32,003) - |
Gains/ (Losses) £ - - - - (1,029) (1,029) - - - (1,029) |
Balance at 31 March 2023 £ 73,455 975,997 3,000 |
|---|---|---|---|---|---|---|
| (32,003) 32,003 - - - - - |
1,052,452 190,704 |
|||||
| (111,501) | 1,243,156 | |||||
| - - - (111,501) |
4,443 641 |
|||||
| 5,084 1,248,240 |
Page 29
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
14. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Building improvements Revalued property fund Gym refurbishment General funds General Funds Total of funds Total Unrestricted funds Restricted funds Building Improvements Fitness for Sport Project |
Balance at 1 April 2021 £ 57,714 1,036,000 3,000 1,096,714 161,531 1,263,264 1,258,245 4,378 641 5,019 |
Income £ - - - - 96,481 102,506 96,481 6,025 - 6,025 |
Expenditure £ - - - - (111,689) (111,689) (5,960) - |
Transfers in/out £ 15,741 (28,000) - (12,259) 12,259 - - - - - |
Gains/ (Losses) £ - - - |
Balance at 31 March 2022 £ 73,455 1,008,000 3,000 |
|---|---|---|---|---|---|---|
| - 1,366 1,366 1,366 - - - |
1,084,455 | |||||
| 159,948 | ||||||
| 1,244,403 4,443 641 |
||||||
| (117,649) (5,960) |
1,249,487 5,084 |
Page 30
VICTORIA PARK HARRIERS AND TOWER HAMLETS AC (A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds Restricted funds 2023 £ 2023 £ Tangible fixed assets 1,049,452 - Fixed asset investments 19,036 - Current assets 180,099 5,084 Creditors due within one year (5,431) - Total 1,243,156 5,084 |
Total funds 2023 £ 1,049,452 19,036 185,183 (5,431) |
|---|---|
| 1,248,240 |
Total
Analysis of net assets between funds - prior year
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year |
Unrestricted funds 2022 £ 1,081,455 20,065 152,486 (9,603) 1,244,403 |
Restricted funds 2022 £ - - 5,084 - 5,084 |
Total funds 2022 £ 1,081,455 20,065 157,570 (9,603) 1,249,487 |
|---|---|---|---|
Total
16. Related party transactions
There were no related party transactions in the year ( 2022 - £NIL ).
Page 31