REDBOURN RECREATION CENTRE
AND PLAYING FIELDS TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST.MARCH 2022
Company Registration No. 03131968 (England and Wales)
Registered Charity No 1111215
REDBOURN RECREATION CENTRE AND PLAYING FIELDS TRUST
DIRECTORS' REPORT FOR THE YEAR ENDED 31ST.MARCH 2022
The Directors present their report and financial statements for the year ended 31st.March 2022.
Principal Activities
The Trust's principal activities are monitoring the 15-year management agreement with Everyone Active which began on 1st.October 2015, financial governance to ensure the long-term sustainability of the Centre, and fund raising for additional facilities.
Directors
The Directors who have held office during the year are as follows : Pat Schofield (re-elected October 2019) Rebecca Follett (re-elected October 2020) Michael Morton (re-elected October 2019) Juliet Thomas (re-elected October 2018) Richard Evans (re-elected November 2021) Catherine Brooke (re-elected November 2021) Chris Renwick (re-elected October 2019) Jeremy Reilly (elected October 2020) Ivan Hickmott (elected October 2020)
Audit
For the year ended 31st.March 2022 the Company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
Directors' Responsibility
Company Law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of the Company's affairs and of its profit or loss for that period.
In preparing these financial statements the Directors are required to :
-
select suitable accounting policies and apply them consistently,
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make judgements and estimates that are reasonable and prudent,
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prepare the financial statements on a going concern basis, unless it is inappropriate to assume that the Company will continue in business.
The Directors are responsible for keeping proper financial records, which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 s380 of the Companies Act 2006 relating to small companies.
By order of the Board
………………………………………………………………….C.Renwick - Director Dated : 11th.November 2022
REDBOURN RECREATION CENTRE AND PLAYING FIELDS TRUST
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31ST.MARCH 2022
| Notes Turnover Direct Costs Gross Proft/(Loss) Administratve Expenses Operatng Excess/(Defcit) before taxaton 2 General Grants Provision for Dilapidatons Tax on surplus on ordinary actvites 3 Excess/(Defcit) for the Year |
2022 £ 29,035 4,261 24,774 6,370 18,404 0 -2,000 0 16,404 ========= |
2021 £ 670 1,976 |
|---|---|---|
| -1,306 5,543 |
||
| -6,849 0 -2,000 0 |
||
| -8,849 ========= |
REDBOURN RECREATION CENTRE AND PLAYING FIELDS TRUST
BALANCE SHEET AS AT 31ST.MARCH 2022
| Notes Fixed Assets 4 Current Assets Debtors and Prepayments 5 Cash at Bank and in Hand Creditors : Amounts falling due within one year 7 Net Current Assets Total Assets less Current Liabilites Creditors : Amounts falling afer more than one year Net Assets Capital and Reserves 6,8,9 |
2022 2021 £ £ £ £ 11,217 12,745 63,264 4,074 1,101 38,450 64,365 42,524 1,985 0 62,380 42,524 73,597 55,269 0 0 73,597 55,269 ========= ========= 73,597 55,269 ========= ========= |
2022 2021 £ £ £ £ 11,217 12,745 63,264 4,074 1,101 38,450 64,365 42,524 1,985 0 62,380 42,524 73,597 55,269 0 0 73,597 55,269 ========= ========= 73,597 55,269 ========= ========= |
|---|---|---|
| 55,269 0 |
||
| 55,269 ========= 55,269 ========= |
Audit Exemption Statement
For the year ended 31st.March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' Responsibilities :
The members have not required the Company to obtain an audit of its accounts for the year in accordance with section 476,
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the Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of accounts,
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theses accounts have been prepared in accordance with the provisions applicable to Companies subject to the small companies' regime.
The financial statements were approved by the Board on 11th.November 2022
…………………………………………………………………………………..C.Renwick - Director
3
REDBOURN RECREATION CENTRE AND PLAYING FIELDS TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST.MARCH 2022
1 Accounting Policies
a Accounting Convention
The financial statement have been prepared under the historical cost convention and in accordance with FRS105, the Financial Reporting Standard applicable to the Micro-Entities Regime (effective January 2016)
b Turnover
Turnover represents amounts receivable for good and services net of any trade discounts. The Company is now registered for VAT.
c Depreciation of Tangible Fixed Assets
Depreciation is provided on original tangible fixed assets, on the straight line basis, in order to write off the costs over the period of the management agreement. The improvements to Premises are now also being depreciated, and the Bank Card Reader is being depreciated on the straight line basis over 3 years.
| 2 | Operatng Excess | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Operatng excess is stated afer charging : | |||
| Depreciaton of tangible assets | 1,528 | 905 |
3 Taxation
The Trust is a registered charity and, thus, a non-profit making entity and is not liable for corporation tax
4 Tangible Fixed Assets
| Improve | **Bank Card ** | Fixtures | Sports | Total | |
|---|---|---|---|---|---|
| **Premises ** | Reader | & Fitngs | Equip | ||
| £ | £ | £ | £ | £ | |
| Net Book Value | |||||
| At beginning of year | 4,980 | 320 | 6,069 | 1,376 | 12,745 |
| Cost of Additons | 0 | 0 | 0 | 0 | 0 |
| Depreciaton | |||||
| Provided for year | 623 | 160 | 607 | 138 | 1,528 |
| Net Book Value | |||||
| At end of year | 4,357 | -160 | 5,462 | 1,238 | 11,217 |
REDBOURN RECREATION CENTRE AND PLAYING FIELDS TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST.MARCH 2022 (continued)
| 5Debtors Trade Debtors (Everyone Actve) Everyone Actve Loan re Gymnasium Sundry Debtors SAADI balance of agreed Contributon |
2022 £ 5,264 50,000 0 8,000 63,264 ========= |
2021 £ 4,047 0 27 0 |
|---|---|---|
| 4,074 ========= |
6 Dilapidations
Following the merger with Redbourn Playing Fields Trust the Company entered into a new contract with Redbourn Parish Council (the head leaseholder) under which a dilapidation fund "should be established to cover any remedial work to the building during the course of the lease and any necessary repairs at the end of the lease. At the start of the fiscal year 2008 this should equate to £25,000. Each year thereafter, to include 2008, an additional £2,000 should be added to the Fund out of surpluses."
At the beginning of the year the Dilapidations Fund amounted to £37,148. A transfer of £2,000 has been made to the Fund from the Company's 2020-21 reserves, resulting in a year end balance of £39,148
| 7 | Creditors : amounts falling due within one year | 2022 | 2021 | |
|---|---|---|---|---|
| £ | £ | |||
| Premises Insurance | 1,213 | 0 | ||
| Easter Show 2020 in advance | 0 | 0 | ||
| Creditors and Accruals | 79 | 0 | ||
| VAT | 693 | 0 | ||
| 1,985 | - | |||
| ======== | ======== | |||
| 8 | Statement of Movements on Proft and Loss Account | |||
| £ | ||||
| Balance at beginning of year | 926 | |||
| Net Excess for the year | 16,404 | |||
| Balance at the end of the year | 17,330 |
REDBOURN RECREATION CENTRE AND PLAYING FIELDS TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST.MARCH 2022 (continued)
9.Capital and Reserves
| Proft & Loss Account Dilapidatons Bowls Mat Renewal Inter-Generatonal Youth Café Grant Football Foundaton |
Opening Additon Reducton Prior Year Balance & Grants Adjust. 926 16,404 0 0 37,148 2,000 0 0 10,228 0 0 0 2,455 0 0 0 4,133 0 0 0 379 0 -76 0 |
Closing Balance 17,330 39,148 10,228 2,455 4,133 303 |
|---|---|---|
| 55,269 18,404 -76 0 |
73,597 |
=========================== ======== ========
10.Control
The Company is limited by guarantee and does not have a share capital
11.Post Balance Sheet Events
Following the temporary suspension of charging the management fee to Everyone Active caused by the coronavirus pandemic, normal service has been resumed. During the year it was agreed with Everyone Active that the Trust would pay for improvements to, and the extension of, the gymnasium, and that Everyone Active woud repay the Trust for the costs over an agreed period. The Board came to the decision that it would be in the Trust's interest to register for VAT and this has been done.
REDBOURN RECREATION CENTRE AND PLAYING FIELDS TRUST
DETAILED TRADING AND PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31ST.MARCH 2022
| Turnover Management Fees Receivable Easter Show half share Donatons SAADI Contributon to Lost Rent Bank Interest Drinks Machine Sales Direct Costs Depreciaton of Sports Equipment Hire and Service of Drinks Machines Bank Card Reader fees Depreciaton of Bank Card Reader Gross (Loss)/Proft Administratve expenses Premises Expenses Depreciaton of Improvements Insurance Depreciaton of Fixtures and Fitngs Ofce Costs Cleaning & Waste Removal Advertsing & Promoton Security Expenses Bank Charges Operatng (defcit)/excess Parish and District Council General Grants Provision for Dilapidatons (Defcit)/Excess for the Year |
2022 2021 £ £ £ £ 8,706 0 0 0 0 404 20,000 0 2 3 327 263 29,035 670 138 138 3,713 1,550 250 128 160 160 4,261 1,976 24,774 - 1,306 159 157 623 0 4,296 3,963 607 607 670 609 0 0 0 207 0 0 15 0 6,370 5,543 18,404 - 6,849 0 0 -2,000 -2,000 16,404 -8,849 |
2022 2021 £ £ £ £ 8,706 0 0 0 0 404 20,000 0 2 3 327 263 29,035 670 138 138 3,713 1,550 250 128 160 160 4,261 1,976 24,774 - 1,306 159 157 623 0 4,296 3,963 607 607 670 609 0 0 0 207 0 0 15 0 6,370 5,543 18,404 - 6,849 0 0 -2,000 -2,000 16,404 -8,849 |
|---|---|---|
| - 6,849 0 -2,000 |
||
| -8,849 |