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2021-12-31-accounts

Kings Norton Tennis Club Registered Charity 1102872

Summary Accounts

for Year to

31st December 2021

Auditor's Report Treasurer's Report Summary Accounts Summary Notes

Roger Goodchild Treasurer Kings Norton Tennis Club 4th March 2022

Independent Audltor's Declaratlon to the members of Kln8's Norton Tennis Club I have examined the 3ccounts for the year ended 31st December 2021 and confirm that they are in accordance with the books and records presented to me, and that all questions have been answered to my satisfaction D W Hodges 4th March 2022

KNTC Financial Report Year ending 31 December 2021

Another different year! Income boosted by more Covid Grants and continued rise in membership and subscriptions, not to mention the major contribution by the Club's share of Grants obtained by our Coach for therapeutic and social tennis projects using our Courts and facilities. There was a strong recovery on Room Hire, some rekindling of Bar activity but as yet no Social contribution. There was also a recovery in expenses as Clubhouse and court activity increased, and Covid easements (eg Business Rates) were reduced or withdrawn.

Replacement in 2021 of the Courts lights with LED units cost £15K which was well covered by Covid Grants. As well as improved performance and reliability, the reduction in electricity consumption is timely given the 2022 hikes in Gas and Electricity tariffs. The Club is partially protected as new fixed price contracts were secured in 2021 starting Q2 2022. Even so, Electricity Day Rate is up c 25%, but Gas Rates are only minimally affected.

Overall, the Surplus for 2021 was £13.2K (vs £15.5K in 2020) and as a result of this both Cash and Net Equity is up. Our Total Cash is £60.1K (vs £54K at 31/12/2020) and Net Equity is £109.5K (£80.9K). However, after allowances for all Liabilities (including the LTA Loan and Sinking Fund), and a Working Cash Reserve, there is still at least £25K available for development. There are a number of major projects in the offing - Clubhouse Ground Floor Refurbishment, Disabled Court Access, Clubhouse Exterior Decoration, Bar Development, Car Park fettling etc etc!

A feature of the year has been the continued growth in cashless commerce. 43% (vs 18% in 2020) of our core income (ie excluding grants) is now through one of three platforms used (through LTA Clubspark, GoCardless for subscriptions and Stripe for court bookings - and sometimes subscriptions - and PayPal Zettle for onsite payments eg bar) Platform charges on revenue have increased to 3% (2.7%) Low value transactions tend to be more expensive and refunds by the Club do not always attract a platform refund of charges. Nevertheless, the convenience and flexibility to the Club of cashless commerce is clear - but there is still a need to update the Club's accounting platform to provide a better transaction interface.

Inflation will no doubt bite into our bottom line in 2022. The Club has been successful in attracting new members in the last two years and the increase in subscriptions has offset much of the loss in clubhouse activities. Whilst improvements in playing facilities (eg LED lighting) are very important for attracting and maintaining membership, the Club needs to review spending on marketing the Club and tennis activities to consolidate and further expand.

Roger Goodchild Treasurer, Kings Norton Tennis Club

Kings Norton Tennis Club Summary Accounts for Year ending 31st December 2021

Registered Charity 1102872

Balance Sheet
Bank & Cash
Debtors & Prepayments
Stock
less
Creditors & Provisions
Net Currents Assets
Net Fixed Assets
LTA Loan
Net of Repayments
Net Assets
Cash
Cash Available for Development
Working Cash
Creditors
Sinking Fund and LTA Loan
Total Cash
Income and Expenses
Subscriptions
Court Dereived Income
Grants & Donations
Government(Covid Support)
LTA re E-Gate Installation
Donations
Bar Net
Socials Net
excludes Bar
41 Club Net
excludes Bar
Room Hire
Other Income
Total Income
Gas & Eletricity
Rates, Water, Club Licence
Insurance
Telephone & Broadband
Administration, Finance, Governance
Repairs
Clubhouse
Courts and Lighting
Grounds and Car Park
Refurbishment & Development
Court Lighting Conversion to LED
E-Gate Installation (Gross of £7.1K LTA Grant)
Clubhouse Running Costs inc Cleaning
Tennis & Tournament Expenses inc WLTA Sub
Marketing & Membership Costs
Depreciation Charges
Other expenses & adjustments
Total Expenses
SURPLUS/(DEFICIT)		 31/12/2021
£57,306
£2,070
£777
£60,153
(£2,051)
£58,102
£63,400
(£12,000)
£109,502
£24,502
£5,000
£2,051
£28,600
£60,153
2021
£11,753
£7,007
£17,669
£0
£593
£469
£34
£0
£3,883
£1
£41,410
£2,738
£895
£1,275
£377
£306
£597
£722
£33
£15,000
£1,636
£536
£186
£2,400
£0
£28,230
£13,180		 31/12/2020
£49,695
£4,149
£188
£54,032
(£9,510)
£44,522
£65,800
(£14,000)
£96,322
£12,022
£5,000
£9,510
£27,500
£54,032
2020
£8,364
£1,717
£13,002
£7,140
£532
£158
£118
£80
£1,689
£4
£32,805
£2,327
£590
£1,230
£374
£83
£563
£722
£242
£7,946
£943
£565
£144
£2,400
(£800)
£17,329
£15,476		 Change
Note
£7,611
(£2,079)
£589
B1
£6,120
£7,459
B2
£13,580
(£2,400)
B3
£2,000
B4
£13,180
£12,694
£0
(£7,459)
£1,100
B4
£6,335
Change
£3,389
1
£5,289
2
£4,667
3
4
£61
£311
(£84)
(£80)
£2,194
(£3)
£8,605
£411
£305
5
£45
£3
£223
6
£34
£0
7
(£209)
£7,054
4
£693
5
(£29)
£42
£0
B4
£800
£10,901
(£2,297)		 Note
B1
B2
B3
B4

Kings Norton Tennis Club Summary Accounts for Year ending 31st December 2021

Notes

1 Membership & Subscriptions

End Adult Junior Social Life Total
Playing
2020 89 46 49 4 188
2021 98 57 38 4 197
Membership Cat Family Couple Full- Junior Student Junior & Discount * Playing Social Total
Playing Parent Total
2020 Rate £240 £210 £120 £36 £55 £55 £22
2021 £240 £210 £120 £36 £55 £55 £22
2020 Income £1,983 £1,219 £3,495 £351 £119 £815 (£167) £7,818 £546 £8,364
2021 £2,877 £1,314 £5,829 £466 £110 £908 (£98) £11,405 £348 £11,753

2 Coaching Activities Contribution: KNTC court hire, admin etc portion of activity grants obtained by M Hillman Tennis

3 Local Restrictions Support and Restart Grants re Covid

4 LTA Grant covered the cost of supply and installation of Court E-Gate. KNTC funded preparatory requirements eg elctrical supply. The 2020 Summary Accounts showed only the £806 net cost to KNTC. Total Gross Costs and Grant are shown here for the record.

5 Charges returning to pre-Covid levels

6 Clubspark/GoCardless/PayPal-Zettle transaction charges

ttle transaction charges
2020 2021
Total Income exc Grants & Donations £12,130 £23,147
Cashless Transaction Value £2,180 £10,039
18% 43%
Card Charge average % of Transaction Value 2.7% 3%

The increase in transaction charges in 2021 is attributable to higher numbers of low value court bookings and refunds

7 E-Gate Annual Maintenance Contract includes SIM and Network charges

B1 Bar Stock excludes Soft Drinks (shelf-life) and includes only unopened bottles and cans of other drinks. Valuation at last purchase cost.

B2 Includes portion of funds due to Matt Hillman Tennis for coaching and other costs included in Grants paid through KNTC

B3 Fixed Assets

Fixed Assets
Clubhouse Courts Lighting Total
Date ?1990 2017 2008
Cost £43,104 £37,291 **£25,639 ** £106,034
Cum Depreciation **(£5,104) ** **(£11,891) ** **(£25,639) ** (£37,834)
WDV 31 Dec 2021 £38,000 £25,400 £0 £63,400
Freehold Land is covenanted

B4 LTA Loan and Sinking Fund

LTA Loan ZWA34 for £20,000 was received March 2017 for use in Courts resurfacing. Interest free and repayable in 20 x half yearly payments of £1,000 starting October 2017. Loan is conditional on establishing a Sinking Fund to provide for future asset replacement/development. LTA waived one loan repayment in 2020 as a Covid support gesture. These Accounts use the LTA 15 year Model to build the Sinking Fund for both Courts and Lights ie For each Court, Surface £800 pa and Lighting £400 pa, Total £3,600 pa for 3 courts, giving a Sinking Fund at term of £54,000

Starting in 2020, £100 pa added re E-Gate per LTA Grant conditions