REGISTERED COMPANY NUMBER: 05559415 (England and Wales)
REGISTERED CHARITY NUMBER: 1115175
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
FOR
WARSOP SPORTING TRUST
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
WARSOP SPORTING TRUST
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 30 September 2020
|
|
Page |
|
Report of the Trustees |
1 |
to |
3 |
Independent Examiner's Report |
|
4 |
|
Statement of Financial Activities |
|
5 |
|
Balance Sheet |
6 |
to |
7 |
Notes to the Financial Statements |
8 |
to |
14 |
Detailed Statement of Financial Activities |
15 |
to |
16 |
WARSOP SPORTING TRUST
REPORT OF THE TRUSTEES
for the year ended 30 September 2020
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwith the
financialstatementsofthecharityfortheyearended30September2020.Thetrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are as follows:
TopromoteforthebenefitoftheinhabitantsofWarsopandthesurroundingareatheprovisionoffacilitiesforrecreation and
sportforindividualswhohaveneedofsuchfacilitiesbyreasonsoftheiryouth,age,infirmityordisablement, financial
hardshiporsocialandeconomiccircumstancesorforthepublicatlargeintheinterestsofsocialwelfareandwiththe object
ofimprovingtheconditionoflifeofthesaidinhabitants.Theadvancementofphysicaleducationforyoungpeople not
undergoing formal education and those who are elderly and/or disabled.
Public benefit
ThetrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommission'sgeneralguidance on
public benefit when reviewing the charity's aims and objectives for the year.
Activities for achieving objectives
Infurtheranceofthecharitableobjectives,WarsopSportingLimitedwasincorporatedon28September2006asa wholly
owned subsidiary of the trust. Its principal activity is the provision of a bar and function facilities.
Volunteers
The company and the group is grateful for the unstinting efforts of its volunteers who are involved in service provision.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
ThecharityhascontinuedtoprovidefacilitiesforsportsandrecreationforthebenefitoftheinhabitantsofWarsopand the
surrounding area.
FINANCIAL REVIEW
Reserves policy
Thecharityneedsreservestoenableittomeettheongoingcommitmentsofitsgeneralcharitableactivitiesandtomeet its
future operating requirements.
Theusuallevelofreservesisjudgedtobeappropriatefortheneedsofthecharity.However,givenpresentsituation where
thecharityhasbeen unableto hold eventsto providean incomesource,theyhavereliedupon donationsand roomhireas an
incomestreamformostoftheyear.SportsEnglandhavesupportedthecharitywitha£10,000grantandprofitsfrom the
tradingsubsidiaryof£16,596madebeforethelockdownrestrictions,haveenabledthecharitycoststobemet.The trustees
willreviewthispositionandpolicyon anannualbasis.Theresultsofthecharityandthesubsidiarycompanyaregivenin the
notes to the financial statements.
Going concern
Aftermakingappropriateenquiries,thetrusteeshaveareasonableexpectationthatthecompanyhasadequateresources to
continueinoperationalexistencefortheforeseeablefuture.DuetotheCoronavirusPandemicthetradingofthe subsidiary
companyhadtostopasthedoorsofthefacilityhadtoclosealongsideallthesportingfacilitiesinthecountry.Within the
tradingsubsidiary,theJobRetentionSchemegrantwasutilisedtoensurethecontinuedemploymentofitsstaffandin June
2020theoutdoorspaceswerereopenedbuthaveonceagainclosedinaccordancewithGovernmentguidelines.As stated
aboveSportsEnglandhavesupportedtheCharitywitha£10,000grantandMrJohnFretwellhasconfirmedhis continued
fundingandsupportandforthisreasontheycontinuetoadoptthegoingconcernbasisinpreparingthe financial
statements.Furtherdetailsregardingtheadoptionofthegoingconcernbasiscanbefoundinnote15ofthe financial
statements.
FUTURE PLANS
ThecharitywillcontinuetoprovidefacilitiesforsportsandrecreationforthebenefitoftheinhabitantsofWarsopand the
surrounding area.
WarsopSportingLimited,asubsidiaryofthetrust,willcontinuewiththeprovisionofabarandfunctionbookings.Allof this
will be in line with the government guidelines surrounding the coronavirus pandemic.
Page 1
WARSOP SPORTING TRUST
REPORT OF THE TRUSTEES
for the year ended 30 September 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limitedby guarantee,
as defined by the Companies Act 2006.
Charity constitution
Thecompanyandthegroupisregisteredasacharitablecompanylimitedbyguaranteeandwassetupbyamemorandum of
association on 9 September 2005, as amended by resolution in 15 June 2006 .
Thecompanyandthegroupisconstitutedunderamemorandumofassociationdated9September2005,asamended by
resolution in 15 June 2006 and is a registered charity number 1115175.
Recruitment and appointment of new trustees
Themanagementofthecompanyandthegroupistheresponsibilityofthetrusteeswhoareelectedandcooptedunder the
termsofthearticlesofassociation.Thefollowingtrusteesretirebyrotationandbeingeligibleofferthemselvesfor re-election
at the annual general meeting:
C C French
J C Fretwell
Organisational structure
Assetoutinthearticlesofassociationthechairofthetrusteesisnominatedby WarsopSportingTrust.The minimum number
oftrusteesissetatsixwiththemaximumsetateleven.Onehalfofthetrusteesretireinrotationateachannual general
meeting and can be re-elected. There is no limit to the length of service of any trustee.
Decision making
Thetrusteesalsoretainresponsibilityfortheprovisionoftheservices,daytodayoperationalmanagementofthe office,
supervisionof the staffteamand alsoensuringthatthe teamcontinueto developtheirskillsand workingpracticesin line with
good practice.
Induction and training of new trustees
Whenconsideringtheappointmentofnewtrusteestheboardwilltakeintoaccountthespecialistskillsrequiredbythe trust.
Additionally, new trustees are given a short induction session by existing members of the management committee.
Related parties
J C Fretwell,a trustee,isalsoa directorof WarsopSportingLimited,a subsidiaryof thetrust,whoseprincipalactivitiesare the
provision of a bar and function bookings.
Risk management
The trusteeshavea dutyto identifyand reviewtherisksto whichthecharityisexposedand to ensureappropriatecontrols are
in place to provide reasonable assurance against fraud and error.
Thetrusteeshaveconductedareviewofthemajorriskstowhichthecharityisexposed.Whereappropriate,systems or
proceduresarebeingestablishedtomitigatetherisksthecharityfaces.Internalcontrolrisksarebeingminimisedby the
implementationofproceduresforauthorisationofalltransactionsandprojects.Proceduresareinplacetoensure compliance
withhealthandsafetyofstaff,volunteers,clientsandvisitorstothecentre.Theseproceduresareperiodicallyreviewed to
ensure that they continue to meet the needs of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05559415 (England and Wales)
Registered Charity number
1115175
Registered office
The John Fretwell Sports Complex
Sookholme Road
Sookholme
Mansfield
Nottinghamshire
NG19 8LL
Page 2
WARSOP SPORTING TRUST
REPORT OF THE TRUSTEES for the year ended 30 September 2020
Trustees
J Carter Director
C C French Cricket Bat Manufacturer
J C Fretwell Retired
A C Fretwell Director
J T Card Accountant
J R Atherton Motor Trader
Independent Examiner
O Jenkins
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................
J C Fretwell - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WARSOP SPORTING TRUST
Independent examiner's report to the trustees of Warsop Sporting Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2020.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsiblefor the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Havingsatisfiedmyselfthatthe accountsof the Companyarenot requiredto be auditedunderPart16 of the 2006 Actand are
eligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsascarriedout under
section145 of the CharitiesAct2011 ('the2011 Act').In carryingout my examinationI havefollowedthe Directionsgiven by
the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwiththe examination
giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. 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
4. 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)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattentionshould be
drawn in this report in order to enable a proper understanding of the accounts to be reached.
O Jenkins
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
Date: .............................................
Page 4
WARSOP SPORTING TRUST
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2020
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Fundraising activities
2
Investment income
3
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
fund
£
19,145
10,000
-
16,596
-
45,741
-
97,576
97,576
(51,835)
1,322,792
1,270,957 |
Restricted
fund
£
-
-
-
-
-
-
-
3,627
3,627
(3,627)
27,460
23,833 |
2020
Total
funds
£
19,145
10,000
-
16,596
-
45,741
-
101,203
101,203
(55,462)
1,350,252
1,294,790 |
2019
Total
funds
£
30,409
31,087
39,294
22,334
995 |
|
|
|
|
124,119
22,414
124,127 |
|
|
|
|
146,541 |
|
|
|
|
(22,422)
1,372,674 |
|
|
|
|
1,350,252 |
The notes form part of these financial statements
Page 5
WARSOP SPORTING TRUST
BALANCE SHEET
30 September 2020
Notes
FIXED ASSETS
Tangible assets
7
Investments
8
CURRENT ASSETS
Debtors
9
Cash at bank
CREDITORS
Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
11
NET ASSETS
FUNDS
13
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Unrestricted
fund
£
1,540,379
1
1,540,380
150
262
412
(10,798)
(10,386)
1,529,994
(259,037)
1,270,957 |
Restricted
fund
£
23,833
-
23,833
-
-
-
-
-
23,833
-
23,833 |
2020
Total
funds
£
1,564,212
1
1,564,213
150
262
412
(10,798)
(10,386)
1,553,827
(259,037)
1,294,790
1,270,957
23,833
1,294,790 |
2019
Total
funds
£
1,619,970
1 |
|
|
|
|
1,619,971
1,314
1,320 |
|
|
|
|
2,634
(29,603) |
|
|
|
|
(26,969) |
|
|
|
|
1,593,002
(242,750) |
|
|
|
|
1,350,252 |
|
|
|
|
1,322,792
27,460 |
|
|
|
|
1,350,252 |
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended
30 September 2020.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
30 September 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparingfinancialstatementswhichgivea trueand fairviewof thestateof affairsof thecharitablecompanyasat the
endofeachfinancialyearandofitssurplusordeficitforeachfinancialyearinaccordancewiththerequirements of
Sections394and395andwhichotherwisecomplywiththerequirementsoftheCompaniesAct2006relating to
financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
WARSOP SPORTING TRUST
BALANCE SHEET - continued 30 September 2020
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitablecompanies subject
to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon .............................................
and were signed on its behalf by:
.............................................
J C Fretwell - Trustee
The notes form part of these financial statements
Page 7
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102 'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCompanies Act
2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value.
Preparation of consolidated financial statements
ThefinancialstatementscontaininformationaboutWarsopSportingTrustasanindividualcompanyanddo not
containconsolidatedfinancialinformationastheparentofagroup.ThecharityisexemptunderSection399(2A) of
the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisa legalor constructiveobligationcommittingthecharity to
thatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamount of
theobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeen classified
underheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedto particular
headings they have been allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearend datearenotedasa commitmentbut not
accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold |
- |
Over the term of the lease and Straight line over 50 years |
Plant and machinery |
- |
20% straight line |
Fixtures and fittings |
- |
10 - 33.3% Straight line |
Sports equipment |
- |
10% on cost |
Office equipment |
- |
33.3% straight line |
Related party exemption
Thecharitablecompanyhastakenadvantageofexemption,underthetermsofFinancialReportingStandard102 'The
FinancialReportingStandardapplicableintheUKandRepublicofIreland',nottodiscloserelatedparty transactions
with wholly owned subsidiaries within the group.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictions arise
when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
2. FUNDRAISING ACTIVITIES
Clay pigeon shoot
Cricket events
INVESTMENT INCOME
Gift aid income |
2020
£
-
-
-
2020
£
16,596 |
2019
£
3,500
35,794 |
|
|
39,294 |
|
|
2019
£
22,334 |
3. INVESTMENT INCOME
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2020 |
2019 |
|
£ |
£ |
Depreciation - owned assets |
55,758 |
56,801 |
Surplus on disposal of fixed assets |
- |
(995) |
5. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended30September2020norfortheyear ended
30 September 2019.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended30September2020norfortheyear ended
30 September 2019.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Fundraising activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Total |
Unrestricted
fund
£
30,409
-
39,294
22,334
995
93,032
22,414
120,500
142,914 |
Restricted
fund
£
-
31,087
-
-
-
31,087
-
3,627
3,627 |
Total
funds
£
30,409
31,087
39,294
22,334
995 |
|
|
|
124,119
22,414
124,127 |
|
|
|
146,541 |
continued...
Page 9
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2020
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
7.
TANGIBLE FIXED ASSETS
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019 |
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
7.
TANGIBLE FIXED ASSETS
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019 |
- continued
Unrestricted
fund
£
(49,882)
1,372,674
1,322,792
Short
leasehold
£
2,089,555
-
2,089,555
534,797
41,792
-
576,589
1,512,966
1,554,758
Sports
equipment
£
72,782
-
72,782
38,005
4,792
-
42,797
29,985
34,777 |
|
Restricted
fund
£
27,460
-
27,460
Plant and
machinery
£
90,172
(24,920)
65,252
80,313
2,877
(24,920)
58,270
6,982
9,859
Office
equipment
£
6,641
-
6,641
6,641
-
-
6,641
-
- |
|
Total
funds
£
(22,422)
1,372,674 |
|
|
|
|
|
|
1,350,252 |
|
|
|
|
|
|
Fixtures
and
fittings
£
244,384
-
244,384
223,808
6,297
-
230,105
14,279
20,576
Totals
£
2,503,534
(24,920)
2,478,614
883,564
55,758
(24,920)
914,402
1,564,212
1,619,970 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
continued...
Page 10
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
8. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
Shares in |
|
group |
|
undertakings |
|
£ |
MARKET VALUE |
|
At 1 October 2019 and 30 September 2020 |
1 |
NET BOOK VALUE |
|
At 30 September 2020 |
1 |
At 30 September 2019 |
1 |
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Warsop Sporting Ltd
Registered office: In England
Nature of business: Provision of a bar and function bookings
9.
10.
%
Class of share:
holding
ordinary
100
Aggregate capital and reserves
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
VAT
Accruals and deferred income |
|
|
|
continued...
Page 11
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other loans (see note 12)
Amounts owed to group undertakings
12.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due in more than five years:
Repayable otherwise than by instalments:
Other loans
13.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
English Cricket Board
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
English Cricket Board
TOTAL FUNDS |
At
1.10.19
£
1,322,792
27,460
1,350,252
Incoming
resources
£
45,741
-
45,741 |
2020
£
216,000
43,037
259,037
2020
£
216,000
Net
movement
in funds
£
(51,835)
(3,627)
(55,462)
Resources
expended
£
(97,576)
(3,627)
(101,203) |
2019
£
216,000
26,750
242,750
2019
£
216,000
At
30.9.20
£
1,270,957
23,833
1,294,790
Movement
in funds
£
(51,835)
(3,627)
(55,462) |
|
|
|
|
continued...
Page 12
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
At
1.10.18
£
Unrestricted funds
General fund
1,372,674
Restricted funds
English Cricket Board
-
TOTAL FUNDS
1,372,674
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
93,032
Restricted funds
English Cricket Board
31,087
TOTAL FUNDS
124,119
A current year 12 months and prior year 12 months combined position is as follows:
At
1.10.18
£
Unrestricted funds
General fund
1,372,674
Restricted funds
English Cricket Board
-
TOTAL FUNDS
1,372,674 |
Net
movement
in funds
£
(49,882)
27,460
(22,422)
Resources
expended
£
(142,914)
(3,627)
(146,541)
Net
movement
in funds
£
(101,717)
23,833
(77,884) |
At
30.9.19
£
1,322,792
27,460
1,350,252
Movement
in funds
£
(49,882)
27,460
(22,422)
At
30.9.20
£
1,270,957
23,833
1,294,790 |
|
|
|
continued...
Page 13
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2020
13. MOVEMENT IN FUNDS - continued
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheaboveare as
follows:
Unrestricted funds
General fund
Restricted funds
English Cricket Board
TOTAL FUNDS
RELATED PARTY DISCLOSURES |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
138,773
(240,490)
(101,717)
31,087
(7,254)
23,833
169,860
(247,744)
(77,884) |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
138,773
(240,490)
(101,717)
31,087
(7,254)
23,833
169,860
(247,744)
(77,884) |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
138,773
(240,490)
(101,717)
31,087
(7,254)
23,833
169,860
(247,744)
(77,884) |
|
|
2020 |
2019 |
|
|
£ |
£ |
Loan from J C Fretwell, a trustee, for construction costs |
1,350,000
1,350,000 |
|
|
Owing to J C Fretwell at the year end |
216,000
216,000 |
|
|
Grants to Welbeck Colliery Cricket Club |
7,800
5,558 |
|
|
|
|
|
|
14. RELATED PARTY DISCLOSURES
DuringtheyearthecharitypaidgrantstoWelbeckCollieryCricketClub,whereoneofthecharity'strustees,J C
Fretwell, is the club's president.
There are no further related party transactions to disclose.
15. GOING CONCERN
Thecompanyisdependentonthesupportofatrusteeandthesubsidiarycompany,WarsopSportingLimited. The
trusteehasindicatedthatheintendstoprovidesufficientfinancialsupporttoenablethecompanytocontinue its
operationsuntilatleastMay2025.The subsidiarycompanyisexpectedto continueto generatepositivecashflows on
its own account, once they are allowed to reopen and for the foreseeable future.
The trustees,havingassessedtheresponsesofboththesupportingtrusteeandthedirectorofWarsopSporting Limited
to theirenquiries,haveno reasonto believethata materialuncertaintyexiststhatmaycastsignificantdoubtabout the
ability of the group to continue as a going concern.
Onthebasisoftheirassessmentofthecompany'sfinancialpositionandoftheenquiriesmadeofthe supporting
trusteeandthedirectorofWarsopSportingLimited,thecompany'strusteeshaveareasonableexpectationthat the
companywillbeabletocontinueinoperationalexistencefortheforeseeablefuture,thisisaftertakinginto account
theaffectofthepandemiclockdownandbeingunabletofullyreopenuntilmid2021.Thustheycontinuetoadopt the
going concern basis of accounting in preparing the financial statements.
Page 14
WARSOP SPORTING TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2020
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Sponsorship
Rental of sports pitches
Other income
Fundraising activities
Clay pigeon shoot
Cricket events
Investment income
Gift aid income
Charitable activities
Grants
Other income
Gain on sale of tangible fixed assets
Total incoming resources
EXPENDITURE
Raising donations and legacies
Clay pigeon shoot
Cricket events
Charitable activities
Grants to institutions
Support costs
Management
Coaching expenses
Insurance
Light and heat
Telephone, stationery and postage
Repairs and renewals
Ground maintenance
Sundries
Depreciation short leasehold
Depreciation plant & machinery
Depreciation fixtures & fittings
Depreciation sports equipment |
2020
£
10,481
4,373
4,288
3
19,145
-
-
-
16,596
10,000
-
45,741
-
-
-
7,800
5,543
4,902
15,137
899
3,229
5,140
544
41,792
2,878
6,297
4,792
91,153 |
2019
£
10,766
12,167
6,387
1,089 |
|
|
30,409
3,500
35,794 |
|
|
39,294
22,334
31,087
995 |
|
|
124,119
735
21,679 |
|
|
22,414
5,558
14,347
5,201
27,442
974
5,460
4,702
1,392
41,792
2,963
7,254
4,792 |
|
|
116,319 |
This page does not form part of the statutory financial statements
Page 15
WARSOP SPORTING TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 30 September 2020
|
2020 |
2019 |
|
£ |
£ |
Management |
|
|
Governance costs |
|
|
Accountancy fees |
2,250 |
2,250 |
Total resources expended |
101,203 |
146,541 |
Net expenditure |
(55,462) |
(22,422) |
This page does not form part of the statutory financial statements
Page 16
REGISTERED COMPANY NUMBER: 05559415 (England and Wales)
REGISTERED CHARITY NUMBER: 1115175
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
FOR
WARSOP SPORTING TRUST
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
WARSOP SPORTING TRUST
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 30 September 2020
|
|
Page |
|
Report of the Trustees |
1 |
to |
3 |
Independent Examiner's Report |
|
4 |
|
Statement of Financial Activities |
|
5 |
|
Balance Sheet |
6 |
to |
7 |
Notes to the Financial Statements |
8 |
to |
14 |
WARSOP SPORTING TRUST (REGISTERED NUMBER: 05559415)
REPORT OF THE TRUSTEES for the year ended 30 September 2020
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwith the
financialstatementsofthecharityfortheyearended30September2020.Thetrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are as follows:
TopromoteforthebenefitoftheinhabitantsofWarsopandthesurroundingareatheprovisionoffacilitiesforrecreation and
sportforindividualswhohaveneedofsuchfacilitiesbyreasonsoftheiryouth,age,infirmityordisablement, financial
hardshiporsocialandeconomiccircumstancesorforthepublicatlargeintheinterestsofsocialwelfareandwiththe object
ofimprovingtheconditionoflifeofthesaidinhabitants.Theadvancementofphysicaleducationforyoungpeople not
undergoing formal education and those who are elderly and/or disabled.
Public benefit
ThetrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommission'sgeneralguidance on
public benefit when reviewing the charity's aims and objectives for the year.
Activities for achieving objectives
Infurtheranceofthecharitableobjectives,WarsopSportingLimitedwasincorporatedon28September2006asa wholly
owned subsidiary of the trust. Its principal activity is the provision of a bar and function facilities.
Volunteers
The company and the group is grateful for the unstinting efforts of its volunteers who are involved in service provision.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
ThecharityhascontinuedtoprovidefacilitiesforsportsandrecreationforthebenefitoftheinhabitantsofWarsopand the
surrounding area.
FINANCIAL REVIEW
Reserves policy
Thecharityneedsreservestoenableittomeettheongoingcommitmentsofitsgeneralcharitableactivitiesandtomeet its
future operating requirements.
Theusuallevelofreservesisjudgedtobeappropriatefortheneedsofthecharity.However,givenpresentsituation where
thecharityhasbeen unableto hold eventsto providean incomesource,theyhavereliedupon donationsand roomhireas an
incomestreamformostoftheyear.SportsEnglandhavesupportedthecharitywitha£10,000grantandprofitsfrom the
tradingsubsidiaryof£16,596madebeforethelockdownrestrictions,haveenabledthecharitycoststobemet.The trustees
willreviewthispositionandpolicyon anannualbasis.Theresultsofthecharityandthesubsidiarycompanyaregivenin the
notes to the financial statements.
Going concern
Aftermakingappropriateenquiries,thetrusteeshaveareasonableexpectationthatthecompanyhasadequateresources to
continueinoperationalexistencefortheforeseeablefuture.DuetotheCoronavirusPandemicthetradingofthe subsidiary
companyhadtostopasthedoorsofthefacilityhadtoclosealongsideallthesportingfacilitiesinthecountry.Within the
tradingsubsidiary,theJobRetentionSchemegrantwasutilisedtoensurethecontinuedemploymentofitsstaffandin June
2020theoutdoorspaceswerereopenedbuthaveonceagainclosedinaccordancewithGovernmentguidelines.As stated
aboveSportsEnglandhavesupportedtheCharitywitha£10,000grantandMrJohnFretwellhasconfirmedhis continued
fundingandsupportandforthisreasontheycontinuetoadoptthegoingconcernbasisinpreparingthe financial
statements.Furtherdetailsregardingtheadoptionofthegoingconcernbasiscanbefoundinnote15ofthe financial
statements.
FUTURE PLANS
ThecharitywillcontinuetoprovidefacilitiesforsportsandrecreationforthebenefitoftheinhabitantsofWarsopand the
surrounding area.
WarsopSportingLimited,asubsidiaryofthetrust,willcontinuewiththeprovisionofabarandfunctionbookings.Allof this
will be in line with the government guidelines surrounding the coronavirus pandemic.
Page 1
WARSOP SPORTING TRUST (REGISTERED NUMBER: 05559415)
REPORT OF THE TRUSTEES
for the year ended 30 September 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limitedby guarantee,
as defined by the Companies Act 2006.
Charity constitution
Thecompanyandthegroupisregisteredasacharitablecompanylimitedbyguaranteeandwassetupbyamemorandum of
association on 9 September 2005, as amended by resolution in 15 June 2006 .
Thecompanyandthegroupisconstitutedunderamemorandumofassociationdated9September2005,asamended by
resolution in 15 June 2006 and is a registered charity number 1115175.
Recruitment and appointment of new trustees
Themanagementofthecompanyandthegroupistheresponsibilityofthetrusteeswhoareelectedandcooptedunder the
termsofthearticlesofassociation.Thefollowingtrusteesretirebyrotationandbeingeligibleofferthemselvesfor re-election
at the annual general meeting:
C C French
J C Fretwell
Organisational structure
Assetoutinthearticlesofassociationthechairofthetrusteesisnominatedby WarsopSportingTrust.The minimum number
oftrusteesissetatsixwiththemaximumsetateleven.Onehalfofthetrusteesretireinrotationateachannual general
meeting and can be re-elected. There is no limit to the length of service of any trustee.
Decision making
Thetrusteesalsoretainresponsibilityfortheprovisionoftheservices,daytodayoperationalmanagementofthe office,
supervisionof the staffteamand alsoensuringthatthe teamcontinueto developtheirskillsand workingpracticesin line with
good practice.
Induction and training of new trustees
Whenconsideringtheappointmentofnewtrusteestheboardwilltakeintoaccountthespecialistskillsrequiredbythe trust.
Additionally, new trustees are given a short induction session by existing members of the management committee.
Related parties
J C Fretwell,a trustee,isalsoa directorof WarsopSportingLimited,a subsidiaryof thetrust,whoseprincipalactivitiesare the
provision of a bar and function bookings.
Risk management
The trusteeshavea dutyto identifyand reviewtherisksto whichthecharityisexposedand to ensureappropriatecontrols are
in place to provide reasonable assurance against fraud and error.
Thetrusteeshaveconductedareviewofthemajorriskstowhichthecharityisexposed.Whereappropriate,systems or
proceduresarebeingestablishedtomitigatetherisksthecharityfaces.Internalcontrolrisksarebeingminimisedby the
implementationofproceduresforauthorisationofalltransactionsandprojects.Proceduresareinplacetoensure compliance
withhealthandsafetyofstaff,volunteers,clientsandvisitorstothecentre.Theseproceduresareperiodicallyreviewed to
ensure that they continue to meet the needs of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05559415 (England and Wales)
Registered Charity number
1115175
Registered office
The John Fretwell Sports Complex
Sookholme Road
Sookholme
Mansfield
Nottinghamshire
NG19 8LL
Page 2
WARSOP SPORTING TRUST (REGISTERED NUMBER: 05559415)
REPORT OF THE TRUSTEES for the year ended 30 September 2020
Trustees
J Carter Director
C C French Cricket Bat Manufacturer
J C Fretwell Retired
A C Fretwell Director
J T Card Accountant
J R Atherton Motor Trader
Independent Examiner
O Jenkins
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................
J C Fretwell - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WARSOP SPORTING TRUST
Independent examiner's report to the trustees of Warsop Sporting Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2020.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsiblefor the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Havingsatisfiedmyselfthatthe accountsof the Companyarenot requiredto be auditedunderPart16 of the 2006 Actand are
eligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsascarriedout under
section145 of the CharitiesAct2011 ('the2011 Act').In carryingout my examinationI havefollowedthe Directionsgiven by
the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwiththe examination
giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. 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
4. 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)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattentionshould be
drawn in this report in order to enable a proper understanding of the accounts to be reached.
O Jenkins
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
Date: .............................................
Page 4
WARSOP SPORTING TRUST
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2020
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Fundraising activities
2
Investment income
3
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
fund
£
19,145
10,000
-
16,596
-
45,741
-
97,576
97,576
(51,835)
1,322,792
1,270,957 |
Restricted
fund
£
-
-
-
-
-
-
-
3,627
3,627
(3,627)
27,460
23,833 |
2020
Total
funds
£
19,145
10,000
-
16,596
-
45,741
-
101,203
101,203
(55,462)
1,350,252
1,294,790 |
2019
Total
funds
£
30,409
31,087
39,294
22,334
995 |
|
|
|
|
124,119
22,414
124,127 |
|
|
|
|
146,541 |
|
|
|
|
(22,422)
1,372,674 |
|
|
|
|
1,350,252 |
The notes form part of these financial statements
Page 5
WARSOP SPORTING TRUST (REGISTERED NUMBER: 05559415)
BALANCE SHEET
30 September 2020
Notes
FIXED ASSETS
Tangible assets
7
Investments
8
CURRENT ASSETS
Debtors
9
Cash at bank
CREDITORS
Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
11
NET ASSETS
FUNDS
13
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Unrestricted
fund
£
1,540,379
1
1,540,380
150
262
412
(10,798)
(10,386)
1,529,994
(259,037)
1,270,957 |
Restricted
fund
£
23,833
-
23,833
-
-
-
-
-
23,833
-
23,833 |
2020
Total
funds
£
1,564,212
1
1,564,213
150
262
412
(10,798)
(10,386)
1,553,827
(259,037)
1,294,790
1,270,957
23,833
1,294,790 |
2019
Total
funds
£
1,619,970
1 |
|
|
|
|
1,619,971
1,314
1,320 |
|
|
|
|
2,634
(29,603) |
|
|
|
|
(26,969) |
|
|
|
|
1,593,002
(242,750) |
|
|
|
|
1,350,252 |
|
|
|
|
1,322,792
27,460 |
|
|
|
|
1,350,252 |
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended
30 September 2020.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
30 September 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparingfinancialstatementswhichgivea trueand fairviewof thestateof affairsof thecharitablecompanyasat the
endofeachfinancialyearandofitssurplusordeficitforeachfinancialyearinaccordancewiththerequirements of
Sections394and395andwhichotherwisecomplywiththerequirementsoftheCompaniesAct2006relating to
financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
WARSOP SPORTING TRUST (REGISTERED NUMBER: 05559415)
BALANCE SHEET - continued 30 September 2020
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitablecompanies subject
to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon .............................................
and were signed on its behalf by:
.............................................
J C Fretwell - Trustee
The notes form part of these financial statements
Page 7
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102 'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCompanies Act
2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value.
Preparation of consolidated financial statements
ThefinancialstatementscontaininformationaboutWarsopSportingTrustasanindividualcompanyanddo not
containconsolidatedfinancialinformationastheparentofagroup.ThecharityisexemptunderSection399(2A) of
the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisa legalor constructiveobligationcommittingthecharity to
thatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamount of
theobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeen classified
underheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedto particular
headings they have been allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearend datearenotedasa commitmentbut not
accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold |
- |
Over the term of the lease and Straight line over 50 years |
Plant and machinery |
- |
20% straight line |
Fixtures and fittings |
- |
10 - 33.3% Straight line |
Sports equipment |
- |
10% on cost |
Office equipment |
- |
33.3% straight line |
Related party exemption
Thecharitablecompanyhastakenadvantageofexemption,underthetermsofFinancialReportingStandard102 'The
FinancialReportingStandardapplicableintheUKandRepublicofIreland',nottodiscloserelatedparty transactions
with wholly owned subsidiaries within the group.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictions arise
when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
2. FUNDRAISING ACTIVITIES
Clay pigeon shoot
Cricket events
INVESTMENT INCOME
Gift aid income |
2020
£
-
-
-
2020
£
16,596 |
2019
£
3,500
35,794 |
|
|
39,294 |
|
|
2019
£
22,334 |
3. INVESTMENT INCOME
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2020 |
2019 |
|
£ |
£ |
Depreciation - owned assets |
55,758 |
56,801 |
Surplus on disposal of fixed assets |
- |
(995) |
5. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended30September2020norfortheyear ended
30 September 2019.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended30September2020norfortheyear ended
30 September 2019.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Fundraising activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Total |
Unrestricted
fund
£
30,409
-
39,294
22,334
995
93,032
22,414
120,500
142,914 |
Restricted
fund
£
-
31,087
-
-
-
31,087
-
3,627
3,627 |
Total
funds
£
30,409
31,087
39,294
22,334
995 |
|
|
|
124,119
22,414
124,127 |
|
|
|
146,541 |
continued...
Page 9
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2020
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
7.
TANGIBLE FIXED ASSETS
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019 |
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
7.
TANGIBLE FIXED ASSETS
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019 |
- continued
Unrestricted
fund
£
(49,882)
1,372,674
1,322,792
Short
leasehold
£
2,089,555
-
2,089,555
534,797
41,792
-
576,589
1,512,966
1,554,758
Sports
equipment
£
72,782
-
72,782
38,005
4,792
-
42,797
29,985
34,777 |
|
Restricted
fund
£
27,460
-
27,460
Plant and
machinery
£
90,172
(24,920)
65,252
80,313
2,877
(24,920)
58,270
6,982
9,859
Office
equipment
£
6,641
-
6,641
6,641
-
-
6,641
-
- |
|
Total
funds
£
(22,422)
1,372,674 |
|
|
|
|
|
|
1,350,252 |
|
|
|
|
|
|
Fixtures
and
fittings
£
244,384
-
244,384
223,808
6,297
-
230,105
14,279
20,576
Totals
£
2,503,534
(24,920)
2,478,614
883,564
55,758
(24,920)
914,402
1,564,212
1,619,970 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
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|
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|
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|
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continued...
Page 10
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
8. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
Shares in |
|
group |
|
undertakings |
|
£ |
MARKET VALUE |
|
At 1 October 2019 and 30 September 2020 |
1 |
NET BOOK VALUE |
|
At 30 September 2020 |
1 |
At 30 September 2019 |
1 |
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Warsop Sporting Ltd
Registered office: In England
Nature of business: Provision of a bar and function bookings
9.
10.
%
Class of share:
holding
ordinary
100
Aggregate capital and reserves
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
VAT
Accruals and deferred income |
|
|
|
continued...
Page 11
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other loans (see note 12)
Amounts owed to group undertakings
12.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due in more than five years:
Repayable otherwise than by instalments:
Other loans
13.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
English Cricket Board
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
English Cricket Board
TOTAL FUNDS |
At
1.10.19
£
1,322,792
27,460
1,350,252
Incoming
resources
£
45,741
-
45,741 |
2020
£
216,000
43,037
259,037
2020
£
216,000
Net
movement
in funds
£
(51,835)
(3,627)
(55,462)
Resources
expended
£
(97,576)
(3,627)
(101,203) |
2019
£
216,000
26,750
242,750
2019
£
216,000
At
30.9.20
£
1,270,957
23,833
1,294,790
Movement
in funds
£
(51,835)
(3,627)
(55,462) |
|
|
|
|
continued...
Page 12
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
At
1.10.18
£
Unrestricted funds
General fund
1,372,674
Restricted funds
English Cricket Board
-
TOTAL FUNDS
1,372,674
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
93,032
Restricted funds
English Cricket Board
31,087
TOTAL FUNDS
124,119
A current year 12 months and prior year 12 months combined position is as follows:
At
1.10.18
£
Unrestricted funds
General fund
1,372,674
Restricted funds
English Cricket Board
-
TOTAL FUNDS
1,372,674 |
Net
movement
in funds
£
(49,882)
27,460
(22,422)
Resources
expended
£
(142,914)
(3,627)
(146,541)
Net
movement
in funds
£
(101,717)
23,833
(77,884) |
At
30.9.19
£
1,322,792
27,460
1,350,252
Movement
in funds
£
(49,882)
27,460
(22,422)
At
30.9.20
£
1,270,957
23,833
1,294,790 |
|
|
|
continued...
Page 13
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2020
13. MOVEMENT IN FUNDS - continued
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheaboveare as
follows:
Unrestricted funds
General fund
Restricted funds
English Cricket Board
TOTAL FUNDS
RELATED PARTY DISCLOSURES |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
138,773
(240,490)
(101,717)
31,087
(7,254)
23,833
169,860
(247,744)
(77,884) |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
138,773
(240,490)
(101,717)
31,087
(7,254)
23,833
169,860
(247,744)
(77,884) |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
138,773
(240,490)
(101,717)
31,087
(7,254)
23,833
169,860
(247,744)
(77,884) |
|
|
2020 |
2019 |
|
|
£ |
£ |
Loan from J C Fretwell, a trustee, for construction costs |
1,350,000
1,350,000 |
|
|
Owing to J C Fretwell at the year end |
216,000
216,000 |
|
|
Grants to Welbeck Colliery Cricket Club |
7,800
5,558 |
|
|
|
|
|
|
14. RELATED PARTY DISCLOSURES
DuringtheyearthecharitypaidgrantstoWelbeckCollieryCricketClub,whereoneofthecharity'strustees,J C
Fretwell, is the club's president.
There are no further related party transactions to disclose.
15. GOING CONCERN
Thecompanyisdependentonthesupportofatrusteeandthesubsidiarycompany,WarsopSportingLimited. The
trusteehasindicatedthatheintendstoprovidesufficientfinancialsupporttoenablethecompanytocontinue its
operationsuntilatleastMay2025.The subsidiarycompanyisexpectedto continueto generatepositivecashflows on
its own account, once they are allowed to reopen and for the foreseeable future.
The trustees,havingassessedtheresponsesofboththesupportingtrusteeandthedirectorofWarsopSporting Limited
to theirenquiries,haveno reasonto believethata materialuncertaintyexiststhatmaycastsignificantdoubtabout the
ability of the group to continue as a going concern.
Onthebasisoftheirassessmentofthecompany'sfinancialpositionandoftheenquiriesmadeofthe supporting
trusteeandthedirectorofWarsopSportingLimited,thecompany'strusteeshaveareasonableexpectationthat the
companywillbeabletocontinueinoperationalexistencefortheforeseeablefuture,thisisaftertakinginto account
theaffectofthepandemiclockdownandbeingunabletofullyreopenuntilmid2021.Thustheycontinuetoadopt the
going concern basis of accounting in preparing the financial statements.
Page 14
REGISTERED COMPANY NUMBER: 05559415 (England and Wales)
REGISTERED CHARITY NUMBER: 1115175
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
FOR
WARSOP SPORTING TRUST
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
WARSOP SPORTING TRUST
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 30 September 2020
|
|
Page |
|
Report of the Trustees |
1 |
to |
3 |
Independent Examiner's Report |
|
4 |
|
Statement of Financial Activities |
|
5 |
|
Balance Sheet |
6 |
to |
7 |
Notes to the Financial Statements |
8 |
to |
14 |
Detailed Statement of Financial Activities |
15 |
to |
16 |
WARSOP SPORTING TRUST
REPORT OF THE TRUSTEES
for the year ended 30 September 2020
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwith the
financialstatementsofthecharityfortheyearended30September2020.Thetrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are as follows:
TopromoteforthebenefitoftheinhabitantsofWarsopandthesurroundingareatheprovisionoffacilitiesforrecreation and
sportforindividualswhohaveneedofsuchfacilitiesbyreasonsoftheiryouth,age,infirmityordisablement, financial
hardshiporsocialandeconomiccircumstancesorforthepublicatlargeintheinterestsofsocialwelfareandwiththe object
ofimprovingtheconditionoflifeofthesaidinhabitants.Theadvancementofphysicaleducationforyoungpeople not
undergoing formal education and those who are elderly and/or disabled.
Public benefit
ThetrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommission'sgeneralguidance on
public benefit when reviewing the charity's aims and objectives for the year.
Activities for achieving objectives
Infurtheranceofthecharitableobjectives,WarsopSportingLimitedwasincorporatedon28September2006asa wholly
owned subsidiary of the trust. Its principal activity is the provision of a bar and function facilities.
Volunteers
The company and the group is grateful for the unstinting efforts of its volunteers who are involved in service provision.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
ThecharityhascontinuedtoprovidefacilitiesforsportsandrecreationforthebenefitoftheinhabitantsofWarsopand the
surrounding area.
FINANCIAL REVIEW
Reserves policy
Thecharityneedsreservestoenableittomeettheongoingcommitmentsofitsgeneralcharitableactivitiesandtomeet its
future operating requirements.
Theusuallevelofreservesisjudgedtobeappropriatefortheneedsofthecharity.However,givenpresentsituation where
thecharityhasbeen unableto hold eventsto providean incomesource,theyhavereliedupon donationsand roomhireas an
incomestreamformostoftheyear.SportsEnglandhavesupportedthecharitywitha£10,000grantandprofitsfrom the
tradingsubsidiaryof£16,596madebeforethelockdownrestrictions,haveenabledthecharitycoststobemet.The trustees
willreviewthispositionandpolicyon anannualbasis.Theresultsofthecharityandthesubsidiarycompanyaregivenin the
notes to the financial statements.
Going concern
Aftermakingappropriateenquiries,thetrusteeshaveareasonableexpectationthatthecompanyhasadequateresources to
continueinoperationalexistencefortheforeseeablefuture.DuetotheCoronavirusPandemicthetradingofthe subsidiary
companyhadtostopasthedoorsofthefacilityhadtoclosealongsideallthesportingfacilitiesinthecountry.Within the
tradingsubsidiary,theJobRetentionSchemegrantwasutilisedtoensurethecontinuedemploymentofitsstaffandin June
2020theoutdoorspaceswerereopenedbuthaveonceagainclosedinaccordancewithGovernmentguidelines.As stated
aboveSportsEnglandhavesupportedtheCharitywitha£10,000grantandMrJohnFretwellhasconfirmedhis continued
fundingandsupportandforthisreasontheycontinuetoadoptthegoingconcernbasisinpreparingthe financial
statements.Furtherdetailsregardingtheadoptionofthegoingconcernbasiscanbefoundinnote15ofthe financial
statements.
FUTURE PLANS
ThecharitywillcontinuetoprovidefacilitiesforsportsandrecreationforthebenefitoftheinhabitantsofWarsopand the
surrounding area.
WarsopSportingLimited,asubsidiaryofthetrust,willcontinuewiththeprovisionofabarandfunctionbookings.Allof this
will be in line with the government guidelines surrounding the coronavirus pandemic.
Page 1
WARSOP SPORTING TRUST
REPORT OF THE TRUSTEES
for the year ended 30 September 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limitedby guarantee,
as defined by the Companies Act 2006.
Charity constitution
Thecompanyandthegroupisregisteredasacharitablecompanylimitedbyguaranteeandwassetupbyamemorandum of
association on 9 September 2005, as amended by resolution in 15 June 2006 .
Thecompanyandthegroupisconstitutedunderamemorandumofassociationdated9September2005,asamended by
resolution in 15 June 2006 and is a registered charity number 1115175.
Recruitment and appointment of new trustees
Themanagementofthecompanyandthegroupistheresponsibilityofthetrusteeswhoareelectedandcooptedunder the
termsofthearticlesofassociation.Thefollowingtrusteesretirebyrotationandbeingeligibleofferthemselvesfor re-election
at the annual general meeting:
C C French
J C Fretwell
Organisational structure
Assetoutinthearticlesofassociationthechairofthetrusteesisnominatedby WarsopSportingTrust.The minimum number
oftrusteesissetatsixwiththemaximumsetateleven.Onehalfofthetrusteesretireinrotationateachannual general
meeting and can be re-elected. There is no limit to the length of service of any trustee.
Decision making
Thetrusteesalsoretainresponsibilityfortheprovisionoftheservices,daytodayoperationalmanagementofthe office,
supervisionof the staffteamand alsoensuringthatthe teamcontinueto developtheirskillsand workingpracticesin line with
good practice.
Induction and training of new trustees
Whenconsideringtheappointmentofnewtrusteestheboardwilltakeintoaccountthespecialistskillsrequiredbythe trust.
Additionally, new trustees are given a short induction session by existing members of the management committee.
Related parties
J C Fretwell,a trustee,isalsoa directorof WarsopSportingLimited,a subsidiaryof thetrust,whoseprincipalactivitiesare the
provision of a bar and function bookings.
Risk management
The trusteeshavea dutyto identifyand reviewtherisksto whichthecharityisexposedand to ensureappropriatecontrols are
in place to provide reasonable assurance against fraud and error.
Thetrusteeshaveconductedareviewofthemajorriskstowhichthecharityisexposed.Whereappropriate,systems or
proceduresarebeingestablishedtomitigatetherisksthecharityfaces.Internalcontrolrisksarebeingminimisedby the
implementationofproceduresforauthorisationofalltransactionsandprojects.Proceduresareinplacetoensure compliance
withhealthandsafetyofstaff,volunteers,clientsandvisitorstothecentre.Theseproceduresareperiodicallyreviewed to
ensure that they continue to meet the needs of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05559415 (England and Wales)
Registered Charity number
1115175
Registered office
The John Fretwell Sports Complex
Sookholme Road
Sookholme
Mansfield
Nottinghamshire
NG19 8LL
Page 2
WARSOP SPORTING TRUST
REPORT OF THE TRUSTEES for the year ended 30 September 2020
Trustees
J Carter Director
C C French Cricket Bat Manufacturer
J C Fretwell Retired
A C Fretwell Director
J T Card Accountant
J R Atherton Motor Trader
Independent Examiner
O Jenkins
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................
J C Fretwell - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WARSOP SPORTING TRUST
Independent examiner's report to the trustees of Warsop Sporting Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2020.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsiblefor the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Havingsatisfiedmyselfthatthe accountsof the Companyarenot requiredto be auditedunderPart16 of the 2006 Actand are
eligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsascarriedout under
section145 of the CharitiesAct2011 ('the2011 Act').In carryingout my examinationI havefollowedthe Directionsgiven by
the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwiththe examination
giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. 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
4. 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)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattentionshould be
drawn in this report in order to enable a proper understanding of the accounts to be reached.
O Jenkins
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
Date: .............................................
Page 4
WARSOP SPORTING TRUST
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2020
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Fundraising activities
2
Investment income
3
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
fund
£
19,145
10,000
-
16,596
-
45,741
-
97,576
97,576
(51,835)
1,322,792
1,270,957 |
Restricted
fund
£
-
-
-
-
-
-
-
3,627
3,627
(3,627)
27,460
23,833 |
2020
Total
funds
£
19,145
10,000
-
16,596
-
45,741
-
101,203
101,203
(55,462)
1,350,252
1,294,790 |
2019
Total
funds
£
30,409
31,087
39,294
22,334
995 |
|
|
|
|
124,119
22,414
124,127 |
|
|
|
|
146,541 |
|
|
|
|
(22,422)
1,372,674 |
|
|
|
|
1,350,252 |
The notes form part of these financial statements
Page 5
WARSOP SPORTING TRUST
BALANCE SHEET
30 September 2020
Notes
FIXED ASSETS
Tangible assets
7
Investments
8
CURRENT ASSETS
Debtors
9
Cash at bank
CREDITORS
Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
11
NET ASSETS
FUNDS
13
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Unrestricted
fund
£
1,540,379
1
1,540,380
150
262
412
(10,798)
(10,386)
1,529,994
(259,037)
1,270,957 |
Restricted
fund
£
23,833
-
23,833
-
-
-
-
-
23,833
-
23,833 |
2020
Total
funds
£
1,564,212
1
1,564,213
150
262
412
(10,798)
(10,386)
1,553,827
(259,037)
1,294,790
1,270,957
23,833
1,294,790 |
2019
Total
funds
£
1,619,970
1 |
|
|
|
|
1,619,971
1,314
1,320 |
|
|
|
|
2,634
(29,603) |
|
|
|
|
(26,969) |
|
|
|
|
1,593,002
(242,750) |
|
|
|
|
1,350,252 |
|
|
|
|
1,322,792
27,460 |
|
|
|
|
1,350,252 |
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended
30 September 2020.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
30 September 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparingfinancialstatementswhichgivea trueand fairviewof thestateof affairsof thecharitablecompanyasat the
endofeachfinancialyearandofitssurplusordeficitforeachfinancialyearinaccordancewiththerequirements of
Sections394and395andwhichotherwisecomplywiththerequirementsoftheCompaniesAct2006relating to
financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
WARSOP SPORTING TRUST
BALANCE SHEET - continued 30 September 2020
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitablecompanies subject
to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon .............................................
and were signed on its behalf by:
.............................................
J C Fretwell - Trustee
The notes form part of these financial statements
Page 7
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102 'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCompanies Act
2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value.
Preparation of consolidated financial statements
ThefinancialstatementscontaininformationaboutWarsopSportingTrustasanindividualcompanyanddo not
containconsolidatedfinancialinformationastheparentofagroup.ThecharityisexemptunderSection399(2A) of
the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisa legalor constructiveobligationcommittingthecharity to
thatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamount of
theobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeen classified
underheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedto particular
headings they have been allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearend datearenotedasa commitmentbut not
accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold |
- |
Over the term of the lease and Straight line over 50 years |
Plant and machinery |
- |
20% straight line |
Fixtures and fittings |
- |
10 - 33.3% Straight line |
Sports equipment |
- |
10% on cost |
Office equipment |
- |
33.3% straight line |
Related party exemption
Thecharitablecompanyhastakenadvantageofexemption,underthetermsofFinancialReportingStandard102 'The
FinancialReportingStandardapplicableintheUKandRepublicofIreland',nottodiscloserelatedparty transactions
with wholly owned subsidiaries within the group.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictions arise
when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
2. FUNDRAISING ACTIVITIES
Clay pigeon shoot
Cricket events
INVESTMENT INCOME
Gift aid income |
2020
£
-
-
-
2020
£
16,596 |
2019
£
3,500
35,794 |
|
|
39,294 |
|
|
2019
£
22,334 |
3. INVESTMENT INCOME
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2020 |
2019 |
|
£ |
£ |
Depreciation - owned assets |
55,758 |
56,801 |
Surplus on disposal of fixed assets |
- |
(995) |
5. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended30September2020norfortheyear ended
30 September 2019.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended30September2020norfortheyear ended
30 September 2019.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Fundraising activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Total |
Unrestricted
fund
£
30,409
-
39,294
22,334
995
93,032
22,414
120,500
142,914 |
Restricted
fund
£
-
31,087
-
-
-
31,087
-
3,627
3,627 |
Total
funds
£
30,409
31,087
39,294
22,334
995 |
|
|
|
124,119
22,414
124,127 |
|
|
|
146,541 |
continued...
Page 9
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2020
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
7.
TANGIBLE FIXED ASSETS
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019 |
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
7.
TANGIBLE FIXED ASSETS
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019
COST
At 1 October 2019
Disposals
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
Eliminated on disposal
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019 |
- continued
Unrestricted
fund
£
(49,882)
1,372,674
1,322,792
Short
leasehold
£
2,089,555
-
2,089,555
534,797
41,792
-
576,589
1,512,966
1,554,758
Sports
equipment
£
72,782
-
72,782
38,005
4,792
-
42,797
29,985
34,777 |
|
Restricted
fund
£
27,460
-
27,460
Plant and
machinery
£
90,172
(24,920)
65,252
80,313
2,877
(24,920)
58,270
6,982
9,859
Office
equipment
£
6,641
-
6,641
6,641
-
-
6,641
-
- |
|
Total
funds
£
(22,422)
1,372,674 |
|
|
|
|
|
|
1,350,252 |
|
|
|
|
|
|
Fixtures
and
fittings
£
244,384
-
244,384
223,808
6,297
-
230,105
14,279
20,576
Totals
£
2,503,534
(24,920)
2,478,614
883,564
55,758
(24,920)
914,402
1,564,212
1,619,970 |
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continued...
Page 10
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
8. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
Shares in |
|
group |
|
undertakings |
|
£ |
MARKET VALUE |
|
At 1 October 2019 and 30 September 2020 |
1 |
NET BOOK VALUE |
|
At 30 September 2020 |
1 |
At 30 September 2019 |
1 |
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Warsop Sporting Ltd
Registered office: In England
Nature of business: Provision of a bar and function bookings
9.
10.
%
Class of share:
holding
ordinary
100
Aggregate capital and reserves
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
VAT
Accruals and deferred income |
|
|
|
continued...
Page 11
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other loans (see note 12)
Amounts owed to group undertakings
12.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due in more than five years:
Repayable otherwise than by instalments:
Other loans
13.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
English Cricket Board
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
English Cricket Board
TOTAL FUNDS |
At
1.10.19
£
1,322,792
27,460
1,350,252
Incoming
resources
£
45,741
-
45,741 |
2020
£
216,000
43,037
259,037
2020
£
216,000
Net
movement
in funds
£
(51,835)
(3,627)
(55,462)
Resources
expended
£
(97,576)
(3,627)
(101,203) |
2019
£
216,000
26,750
242,750
2019
£
216,000
At
30.9.20
£
1,270,957
23,833
1,294,790
Movement
in funds
£
(51,835)
(3,627)
(55,462) |
|
|
|
|
continued...
Page 12
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2020
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
At
1.10.18
£
Unrestricted funds
General fund
1,372,674
Restricted funds
English Cricket Board
-
TOTAL FUNDS
1,372,674
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
93,032
Restricted funds
English Cricket Board
31,087
TOTAL FUNDS
124,119
A current year 12 months and prior year 12 months combined position is as follows:
At
1.10.18
£
Unrestricted funds
General fund
1,372,674
Restricted funds
English Cricket Board
-
TOTAL FUNDS
1,372,674 |
Net
movement
in funds
£
(49,882)
27,460
(22,422)
Resources
expended
£
(142,914)
(3,627)
(146,541)
Net
movement
in funds
£
(101,717)
23,833
(77,884) |
At
30.9.19
£
1,322,792
27,460
1,350,252
Movement
in funds
£
(49,882)
27,460
(22,422)
At
30.9.20
£
1,270,957
23,833
1,294,790 |
|
|
|
continued...
Page 13
WARSOP SPORTING TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2020
13. MOVEMENT IN FUNDS - continued
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheaboveare as
follows:
Unrestricted funds
General fund
Restricted funds
English Cricket Board
TOTAL FUNDS
RELATED PARTY DISCLOSURES |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
138,773
(240,490)
(101,717)
31,087
(7,254)
23,833
169,860
(247,744)
(77,884) |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
138,773
(240,490)
(101,717)
31,087
(7,254)
23,833
169,860
(247,744)
(77,884) |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
138,773
(240,490)
(101,717)
31,087
(7,254)
23,833
169,860
(247,744)
(77,884) |
|
|
2020 |
2019 |
|
|
£ |
£ |
Loan from J C Fretwell, a trustee, for construction costs |
1,350,000
1,350,000 |
|
|
Owing to J C Fretwell at the year end |
216,000
216,000 |
|
|
Grants to Welbeck Colliery Cricket Club |
7,800
5,558 |
|
|
|
|
|
|
14. RELATED PARTY DISCLOSURES
DuringtheyearthecharitypaidgrantstoWelbeckCollieryCricketClub,whereoneofthecharity'strustees,J C
Fretwell, is the club's president.
There are no further related party transactions to disclose.
15. GOING CONCERN
Thecompanyisdependentonthesupportofatrusteeandthesubsidiarycompany,WarsopSportingLimited. The
trusteehasindicatedthatheintendstoprovidesufficientfinancialsupporttoenablethecompanytocontinue its
operationsuntilatleastMay2025.The subsidiarycompanyisexpectedto continueto generatepositivecashflows on
its own account, once they are allowed to reopen and for the foreseeable future.
The trustees,havingassessedtheresponsesofboththesupportingtrusteeandthedirectorofWarsopSporting Limited
to theirenquiries,haveno reasonto believethata materialuncertaintyexiststhatmaycastsignificantdoubtabout the
ability of the group to continue as a going concern.
Onthebasisoftheirassessmentofthecompany'sfinancialpositionandoftheenquiriesmadeofthe supporting
trusteeandthedirectorofWarsopSportingLimited,thecompany'strusteeshaveareasonableexpectationthat the
companywillbeabletocontinueinoperationalexistencefortheforeseeablefuture,thisisaftertakinginto account
theaffectofthepandemiclockdownandbeingunabletofullyreopenuntilmid2021.Thustheycontinuetoadopt the
going concern basis of accounting in preparing the financial statements.
Page 14
WARSOP SPORTING TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2020
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Sponsorship
Rental of sports pitches
Other income
Fundraising activities
Clay pigeon shoot
Cricket events
Investment income
Gift aid income
Charitable activities
Grants
Other income
Gain on sale of tangible fixed assets
Total incoming resources
EXPENDITURE
Raising donations and legacies
Clay pigeon shoot
Cricket events
Charitable activities
Grants to institutions
Support costs
Management
Coaching expenses
Insurance
Light and heat
Telephone, stationery and postage
Repairs and renewals
Ground maintenance
Sundries
Depreciation short leasehold
Depreciation plant & machinery
Depreciation fixtures & fittings
Depreciation sports equipment |
2020
£
10,481
4,373
4,288
3
19,145
-
-
-
16,596
10,000
-
45,741
-
-
-
7,800
5,543
4,902
15,137
899
3,229
5,140
544
41,792
2,878
6,297
4,792
91,153 |
2019
£
10,766
12,167
6,387
1,089 |
|
|
30,409
3,500
35,794 |
|
|
39,294
22,334
31,087
995 |
|
|
124,119
735
21,679 |
|
|
22,414
5,558
14,347
5,201
27,442
974
5,460
4,702
1,392
41,792
2,963
7,254
4,792 |
|
|
116,319 |
This page does not form part of the statutory financial statements
Page 15
WARSOP SPORTING TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 30 September 2020
|
2020 |
2019 |
|
£ |
£ |
Management |
|
|
Governance costs |
|
|
Accountancy fees |
2,250 |
2,250 |
Total resources expended |
101,203 |
146,541 |
Net expenditure |
(55,462) |
(22,422) |
This page does not form part of the statutory financial statements
Page 16