Charity number: 1103716
WINSCOMBE RUGBY FOOTBALL CLUB
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
WINSCOMBE RUGBY FOOTBALL CLUB
CONTENTS
;
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees’ Report | 2-3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| NotestotheFinancialStatements | 7-13 |
WINSCOMBE RUGBY FOOTBALL CLUB
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
| Trustees | S Rees |
|---|---|
| G George | |
| R Mead | |
| A Farron | |
| M Thatcher | |
| M Humphry | |
| B Gash | |
| Charity registered | |
| number | 1103716 |
| Principal office | The Cottage |
| Edingworth Road | |
| Edingworth | |
| Weston-Super-Mare | |
| Somerset | |
| BS24 0JB | |
| Secretary | LThomas |
| Independent Examiner | Bishop Fleming LLP |
| Chartered Accountants | |
| 10 Temple Back | |
| Bristol | |
| BS1 6FL | |
| Bankers | Lloyds Bank plc |
| 24-26 High Street | |
| Wells | |
| BA52SJ |
Page 1
.
WINSCOMBE RUGBY FOOTBALL CLUB
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the financial statements of the Charity for the year ended 31 March 2024.
OBJECTIVES AND ACTIVITIES
a. Objectives and organisation
The Charity's objective is the advancement of physical education of people aged five years and over by the provision of facilities for playing rugby football.
The Charity is largely funded by annual membership subscriptions, donations and fundraising social events.
The day to day operation of the Charity is carried out by the Charity's secretary who assists the Trustees in dealing with the general administration on the Charity.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities.
b. Review of activities and achievements during the year
WRFC enters two senior teams in the league structure administered by the Rugby Football Union in England. WRFC also operates a third team and a Veterans team, both playing friendly matches during the season. A ladies team was started and played during the year. This is after the Senior Section that was previously run by WRFC Limited joined the Charity with effect from 1st May 2005. WRFC Limited owns two rugby pitches.
The Mini & Junior Section operates teams for all ages from U6 through to Colts. All sides play friendly matches and where eligible enter local and regional competitions. The Mini & Junior Section also operates four girls teams (U12, U14, U16 & U18) who play similar fixtures.
Across all sections WRFC has approx. 426 members and 432 players. At least one parent/guardian of each Mini & Junior player is registered as a member of WRFC. The Executive Committee manages all aspects of the club, both on and off the pitch.
At the year end total funds amounted to £156,787. Ihe year end total funds are sufficient to ensure the Charity can meet its obligations as they fall due.
FINANCIAL REVIEW
a. Reserves policy
It is the Charity's policy to retain sufficient funds to enable the Charity to meet its forseeable commitments. These include the ability to cover ground maintenance and repairs. The Trustees consider that the current level of reserves of £156,787 is appropriate to adequately cover the short term costs and the risks that the charity has identified.
b. Review of major risks
The major risk of the charity is that its income is dependent on the subscriptions received. This risk is managed by regular monitoring of the income against expenditure commitments and is reviewed at each meeting of the trustees.
Page 2
14 October 2024
18 October 2024
,
WINSCOMBE RUGBY FOOTBALL CLUB
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2024 | 2024 | 2023 | ||
| Note | £ | £ | £ | |
| INCOME FROM: | ||||
| Voluntary income | 3 | 46,705 | 46,705 | 43,219 |
| Activities for generating funds | “4 | 49,645 | 49,645 | 55,842 |
| Investment income | 5 | 1,614 | 1,614 | 276 |
| TOTAL INCOME | 97,964 | 97,964 | 99,337 | |
| EXPENDITURE ON: | ||||
| Costs of generating funds | -6 | 82,012 | 82,012 | 75,342 |
| Governance costs | 3,150 | 3,150 | 3,000 | |
| TOTAL EXPENDITURE | 85,162 | 85,162 | 78,342 | |
| NET MOVEMENT IN FUNDS | 12,802 | 12,802 | 20,995 | |
| RECONCILIATION OF FUNDS: | ||||
| Total funds brought forward | 143,985 | 143,985 | 122,990 | |
| Net movement in funds | 12,802 | 12,802 | 20,995 | |
| TOTALFUNDSCARRIEDFORWARD | 156,787 | 156,787 | 143,985 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 7 to 13 form part of these financial statements.
Page 5
WINSCOMBE RUGBY FOOTBALL CLUB
BALANCE SHEET AS AT 31 MARCH 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| CURRENT ASSETS | |||||
| Stocks | .@9 | 10,846 | 9,202 | ||
| Debtors | 10 | 7,110 | 5,892 | ||
| Cash at bank and in hand | 153,756 | 162,868 | |||
| 171,712 | 177,962 | ||||
| Creditors: amounts falling due within one | |||||
| year | “11 | (14,925) | (33,977) | ||
| NET CURRENTASSETS | 156,787 | 143,985 | |||
| TOTAL NETASSETS | 156,787 | 143,985 | |||
| CHARITY FUNDS | |||||
| Unrestricted funds | 12 | 156,787 | 143,985 | ||
| TOTALFUNDS | 156,787 | 143,985 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
S Rees
Chair of Trustees
Date: 14 October 2024
The notes on pages 7 to 13 form part of these financial statements.
Page 6
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ;
WINSCOMBE RUGBY FOOTBALL CLUB
- GENERAL INFORMATION
Winscombe Rugby Football Club is an unincorporated Charity registered in England & Wales. Its registerd office is The Cottage, Edingworth Road, Edingworth, Weston-Super-Mare, Somerset, BS24 OJB.
-
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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Winscombe Rugby Football Club 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.
|
- 2.2 GOING CONCERN
The Trustees continue to adopt the going concern basis in preparing the financial statements which assumes that the Charity will continue in operation for the foreseeable future. This is based on the year end total funds being sufficient to ensure the Charity can meet its obligations as they fall due.
- 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.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
)
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.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 7
,
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
WINSCOMBE RUGBY FOOTBALL CLUB
- ACCOUNTING POLICIES (continued)
©
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 STOCKS
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
- 2.7 DEBTORS
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.
2.8 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.
2.9 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.
2.10 OPERATING LEASES
In the year ended 31 March 2017, the Rugby Football Foundation (RFF) provided a loan of £30,000 to Winscombe Rugby Football Club to fund an All-Weather pitch. This money was paid directly to Sidcot School due to them being the primary developers of the project.
Sidcot School has recognised the £30,000 loan on its balance sheet, however repayments of this loan are being repaid by Winscombe Rugby Club. The loan repayments are treated as a rental expense in the Statement of Financial Activities on a straight line basis over the lease term.
2.11 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.
Page 8
WINSCOMBE RUGBY FOOTBALL CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3. INCOME FROM DONATIONS AND LEGACIES
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2024 | 2024 | 2023 | |||
| £ | £ | £ | |||
| Subscriptions and Donations | . | 46,458 | 46,458 | 43,386 | |
| Match Fees | 247 | 247 | (167) | ||
| 46,705 | 46,705 | 43,219 | |||
| , | |||||
| 4. | ACTIVITIES FOR GENERATING FUNDS | ||||
| Unrestricted | Total | Total | |||
| funds | funds | funds | |||
| 2024 | 2024 | 2023 | |||
| £ | £ | £ | |||
| All Weather Pitch Fees | 3,645 | 3,645 | 2,410 | ||
| Social Events | 9,021 | 9,021 | 10,920 | ||
| Pitchside Boards | 7,463 | 7,463 | 2,181 | ||
| Sponsorships and training equipment | 15,126 | 15,126 | 20,993 | ||
| Kit Sales | 184 | 184 | (1,294) | ||
| Caravan Refreshments | 14,206 | 14,206 | 20,632 | ||
| 49,645 | 49,645 | 55,842 |
| 5. | INVESTMENT INCOME | ||||
|---|---|---|---|---|---|
| Unrestricted | Total | Total | |||
| funds | funds | funds | |||
| 2024 | 2024 | 2023 | |||
| £ | £ | £ | |||
| . | |||||
| Interestreceivable | 1,614 | 1,614 | 276 |
Page 9
WINSCOMBE RUGBY FOOTBALL CLUB
NOTES TO THE FINANCIAL STATEMENTS - FOR THE YEAR ENDED 31 MARCH 2024
6. EXPENDITURE ON RAISING FUNDS
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Grounds Maintenance | 4,833 | 4,833 | 5,518 |
| Ground Rent | 250 | 250 | 250 |
| All Weather Pitch | 5,757 | 5,757 | 5,204 |
| Tractor & Equipment | 6,119 | 6,119 | 1,032 |
| Equipment Maintenance | 1574 | 1,571 | 30 |
| Subscriptions & Fees | 6,461 | 6,461 | 4,832 |
| Physiotherapy | 7,400 | 7,400 | 4,715 |
| Coaching | 6,256 | 6,256 | 6,240 |
| Laundry | 3,864 | 3,864 | 3,004 |
| War Memorial Fees & Utilities | 5,672 | 5,672 | 5,586 |
| Match Transport | 3,126 | 3,126 | 4,543 |
| Training Equipment and Sponsors | 13,345 | 13,345 | 14,658 |
| Match Food | 8,543 | 8,543 | 15,408 |
| 1962 Lottery Club | 670 | 670 | 700 |
| End ofSeason Meals | 4,510 | 4,510 | (2,816) |
| Secretarial Costs and Sundries | 2,466 | 2,466 | 4,345 |
| Trophies & Engraving | - | - | 786 |
| Insurance | 1,169 | 1,169 | 1,307 |
| 82,012 | 82,012 | 75,342 |
| 7. | INDEPENDENT EXAMINER'S REMUNERATION | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the Charity's independent examiner for the independent | |||
| examinationoftheCharity'sannualaccounts | 3,150 | 3,000 |
‘Page 10
WINSCOMBE RUGBY FOOTBALL CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. TRUSTEES' REMUNERATION AND EXPENSES
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
| 9. | STOCKS | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Stocks | 10,846 | 9,202 | |
| 10. | DEBTORS | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Other debtors | 7,110 | 5,392 | |
| Prepayments and accrued income | - | 500 | |
| 7,110 | 5,892 | ||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Tours | 3,304 | 5,523 | |
| Accruals and deferred income | 11,621 | 28,454 | |
| 14,925 | 33,977 |
Page 11
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
WINSCOMBE RUGBY FOOTBALL CLUB
12. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
| Balance at | ||||
|---|---|---|---|---|
| Balance at 1 | 31 March | |||
| April 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | |
| UNRESTRICTED FUNDS | ||||
| General Funds - all funds | 143,985 | 97,964 | (85,162) | 156,787 |
| STATEMENT OF FUNDS -PRIORYEAR | ||||
| Balance at | ||||
| Balance at | 31 March | |||
| 1 April 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| UNRESTRICTED FUNDS | ||||
| GeneralFund | 122,990 | 99,337 | (78,342) | 143,985 |
- OPERATING LEASE COMMITMENTS
At 31 March 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Not later than 1 year | 2,000 | 2,000 |
| Later than 1 year and not later than 5 years | 8,000 | 8,000 |
| Later than 5 years | 5,500 | 7,500 |
| 15,500 | 17,500 |
The following lease payments have been recognised as an expense in the Statement of Financial Activities:
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| Operating | lease | rentals | 2,000 | 2,000 |
Page 12
WINSCOMBE RUGBY FOOTBALL CLUB
,
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
14. RELATED PARTY TRANSACTIONS
For the 2023/24 season, the Club was sponsored by Thatchers Cider Company Limited. A Trustee and a member of the Executive Committee are directors of Thatchers Cider Company Limited. In the year, Thatchers Cider Company Limited contributed £5,618 towards kit purchases for the Club (2023: £6,400) and was provided with match tickets to the value of £Nil (2023: ENil).
Page 13