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← The Radlett Lawn Tennis And Squash Club

2023-12-31-accounts

REGISTERED CHARITY NUMBER: 1117605

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

THE RADLETT LAWN TENNIS AND SQUASH CLUB

Daniel Wolfson & Co Ltd Dns House 382 Kenton Road Harrow HA3 8DP

Greater London

THE RADLETT LAWN TENNIS AND SQUASH CLUB

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Statement of Financial Position 7
Notes to the Financial Statements 8 to 15
Detailed Statement of Financial Activities 16 to 17

THE RADLETT LAWN TENNIS AND SQUASH CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023

The trustees present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

The objects of the Club are to promote the amateur sports of tennis and squash in Radlett and the surrounding area and community participation therein by the provision of facilities for both of these sports.

Page 1

THE RADLETT LAWN TENNIS AND SQUASH CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023

ACHIEVEMENT AND PERFORMANCE

RLTSC has sustained our membership numbers enabling the club being in a strong financial position, thereby allowing the club to invest in a number of upgrades to our playing facilities, ensuring the long-term health of the club and providing opportunities for local people to play tennis and squash.

Adult playing members aged over 30 provide the bulk of the membership fees. At the end of December 2023, we had 455 members in this category, marginally higher than at December 2022, with tennis at 301 and squash at an all-time high of 154. ‘Junior’ membership, at 374 members, is marginally lower to last year. Overall, including community members, RLTSC had 1,029 members at December 2023.

Accordingly, members subscription income was marginally ahead of last year. In addition, the club derives additional income from both entrance and court fees as well as camps and tennis schools run by our Head Coaches. There were no capex projects in 2023 after the significant investment in 2021-22 in LED lights for Courts 1-6 and fencing around our main tennis courts. In 2024, we plan to convert Courts 7-9 to synthetic turf and then replace the synthetic surface on Courts 1-6 in 2025 and 2026 respectively.

The Trustees continue to consider the club’s strategy for a scale investment in its tennis & squash core areas. We are currently considering investment in a covered padel facility, subject to planning approval, which would also require approval by the membership at an EGM.

On an ongoing basis the club offers juniors and adults term-time and holiday courses, social tennis, competitive tennis and squash sessions and endeavours to ensure that all local children and adults can participate in some way, regardless of ability and/or means. The club continues its 'pay & play' scheme through the ‘community membership scheme’ – currently 130 members - providing five of its tennis courts to community members on a pay and play basis plus off-peak squash courts at low affordable rates (to cover heating and lighting). The club also supports local schools’ initiatives and is represented at school fairs and other community events. A junior social is held between March and September on Friday evenings to which all juniors are invited. Adult tennis programmes include club socials on Wednesday evenings, Saturday afternoons and Sunday mornings, a play and coffee morning on Thursdays, Rusty Racquets on Monday and Tuesday evenings, and Cardio tennis, all of which are well supported.

The focus of our Joint Head Tennis Coaches, Laura Collins and Chris Martin, is to ensure that the coaching team delivers a programme of activities to support the membership of the club and the broader community. RLTSC has tennis teams in a number of district and county leagues and well attended playing socials from beginners to advanced. Lee Rossiter, the Head Squash Coach, manages a thriving squash and racquetball participation consolidating increases in membership largely driven by the closure of some neighbouring clubs. Utilisation of squash of courts has increased to close to full capacity. Social squash on Monday and Friday evenings continues to be popular and the club has historically run both winter and summer squash teams in the Herts League and a Vintage team in the Middlesex league. We offer a strong junior section with sessions on a Saturday and Sunday. The coaches and the committee have been developing initiatives to bring tennis and squash at the club closer together and will continue to do so.

The trustees continue to respect at all times the need to incorporate the public benefit in their running of the club. The club strives to offer the best possible playing facilities to the broadest number of people, through such measures as mentioned above e.g. community members, and by building up a bursary fund to support our charitable activities. We have renewed our programme e.g. a programme with Herts County Council Adult Social Care and offering camps and training events to school children throughout the year. We have held several charity-raising events during the year. We recycle all our old tennis balls through Recycaball, and donate all proceeds of this initiative to the Recycaball chosen charities. We continue to provide in-house coach led events, free to members and also open to non-members.

RLTSC constantly strives to attract new members, as this is recognised to be the best way of keeping subscription levels affordable for the maximum number of people and the trustees believe that a constant healthy membership income will

Page 2

THE RADLETT LAWN TENNIS AND SQUASH CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023

enable the club to offer its facilities to the greatest number of people, such as those now taking part in disabled tennis, and those who take advantage of the community membership scheme.

The club continues to be generously supported by John Apthorp and his charity.

A number of new and existing members have become engaged in the running of the club to ensure that it can operate efficiently and within its means. With the increased membership, I would encourage any members, who feel they are able, to step forward to help operate the club.

FINANCIAL REVIEW

The trustees are satisfied with the club's financial performance this year, judge the club to be in a stable financial position and are confident that existing reserves are adequate to meet operational needs. Continued careful cost management is paramount and the club continues to regularly assess its ongoing operational and known capital expenditure requirements.

The accounts show a net profit of £118,144 before depreciation and a post-depreciation profit of £60,121 These profits are used to build up a sinking fund to renovate the courts and other facilities, when required, and for improvements to the club's infrastructure and potentially new playing possibilities. The club had a healthy cash balance of £500,825 at 31 December, 2023 which will be used in part to fund the recently approved resurfacing of Courts 1-9 over 2024-26 and a fixed asset base of £354,968, net of depreciation.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Club is an unincorporated association, constituted under a deed dated 19 March, 2006. The Club obtained its charitable status from the Charity Commission for England and Wales on 17 January, 2007. Prior to that date, the Club was an unincorporated association registered as a Community Amateur Sports Club.

The constitution provides that a General Committee will manage the club and that the members of this committee will be trustees of the charity. The General Committee shall comprise not more than 13 committee members who will be elected individually by the Members of the Club at the Annual General Meeting.

Trustees are required to retire annually and are entitled to offer themselves for re-election at the Annual General Meeting. Any Member of the Club is entitled to stand for election to the General Committee at the Annual General Meeting provided he has two sponsoring Members of the Club.

The General Committee will normally meet at least four times a year to review the management of the Club. All of the trustees and committee members are unpaid volunteers.

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1117605

Principal address

425 Watling Street Radlett Hertfordshire WD7 7JG

Page 3

THE RADLETT LAWN TENNIS AND SQUASH CLUB

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST DECEMBER 2023

Trustees

Mr K Costi - Honorary Chairman Mr A Gamsa - Honorary Secretary Mr D Gilbert - Honorary Treasurer Ms A Argyle - Honorary Tennis Chairman Mr M Roycroft – Honorary Squash Chairman Mrs M Flower-Ellis - Honorary Membership Secretary

Independent Examiner

Sumit Agarwal Daniel Wolfson & Co Ltd Dns House 382 Kenton Road Harrow Greater London HA3 8DP

Bankers

Barclays Bank Baker Street PO Box 45D 93 Baker Street London W1A 4SD

President

Ms J Underwood

Club Administrator

Ms J Taylor Ms N Eldred

Approved by order of the board of trustees on …………….. and signed on its behalf by:

Mr K Costi - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE RADLETT LAWN TENNIS AND SQUASH CLUB

Independent examiner's report to the trustees of The Radlett Lawn Tennis and Squash Club

I report to the charity trustees on my examination of the accounts of The Radlett Lawn Tennis and Squash Club (the Trust) for the year ended 31st December 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Sumit Agarwal

Daniel Wolfson & Co Ltd Dns House 382 Kenton Road Harrow Greater London HA3 8DP

…………………

Page 5

THE RADLETT LAWN TENNIS AND SQUASH CLUB

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
24,243
Charitable activities
5
Coaching
140,030
Entrance, visitor and court fees
27,106
Tournaments and leagues
11,279
Subscriptions
200,848
Other trading activities
3
28,403
Investment income
4
20,917
Total
452,826
EXPENDITURE ON
Charitable activities
6
Coaching
117,914
Tournaments and leagues
10,671
Charity administration and overheads
221,679
Affiliation and registration
2,008
Governance costs
2,647
Other resources expended
37,786
Total
392,705
NET INCOME
60,121
RECONCILIATION OF FUNDS
Total funds brought forward
760,847
TOTAL FUNDS CARRIED FORWARD
820,968		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2023
Total
funds
£
24,243
140,030
27,106
11,279
200,848
28,403
20,917
452,826
117,914
10,671
221,679
2,008
2,647
37,786
392,705
60,121
760,847
820,968		 2022
Total
funds
£
11,717
150,973
28,276
8,105
191,339
32,306
13,610
436,326
117,301
6,553
218,745
2,879
2,593
36,356
384,427
51,899
708,948
760,847

The notes form part of these financial statements

Page 6

THE RADLETT LAWN TENNIS AND SQUASH CLUB

STATEMENT OF FINANCIAL POSITION

31ST DECEMBER 2023

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Stocks
11
Debtors
12
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 Unrestricted
funds
£
354,968
6,123
9,883
500,825
516,831
(50,831)
466,000
820,968
820,968		 Restricted
fund
£
-
-
-
-
-
-
-
-		 2023
Total
funds
£
354,968
6,123
9,883
500,825
516,831
(50,831)
466,000
820,968
820,968
820,968
820,968		 2022
Total
funds
£
412,129
5,048
11,702
411,952
428,702
(79,984)
348,718
760,847
760,847
760,847
760,847

The financial statements were approved by the Board of Trustees and authorised for issue on ………………. and were signed on its behalf by:

Mr K Costi - Trustee

The notes form part of these financial statements

Page 7

THE RADLETT LAWN TENNIS AND SQUASH CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Clubhouse and grounds - 5% on cost
Tennis and squash court surfaces - 10% on cost
Furniture and equipment - 20% on cost
Clubhouse improvements - 10% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION

The charity is exempt from tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. 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

THE RADLETT LAWN TENNIS AND SQUASH CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

2.
DONATIONS AND LEGACIES
Gifts, donations and grants
3.
OTHER TRADING ACTIVITIES
Bar takings
Social functions
4.
INVESTMENT INCOME
Bank interest
Rent receivable
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Coaching
Coaching
Entrance, visitor and court fees Entrance, visitor and court fees
Tournaments and leagues
Tournaments and leagues
Member subscriptions
Subscriptions		 2023
£
24,243
24,243
2023
£
27,008
1,395
28,403
2023
£
10,555
10,362
20,917
2023
£
140,030
27,106
11,279
200,848
379,264		 2022
£
11,717
11,717
2022
£
29,626
2,680
32,306
2022
£
2,708
10,902
13,610
2022
£
150,973
28,276
8,105
191,339
378,693		 2022
£
11,717
11,717
2022
£
29,626
2,680
32,306
2022
£
2,708
10,902
13,610

continued...

Page 9

THE RADLETT LAWN TENNIS AND SQUASH CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

6. CHARITABLE ACTIVITIES COSTS

Coaching
Tournaments and leagues
Charity administration and overheads
Affiliation and registration
Governance costs
Other resources expended
7.
SUPPORT COSTS
Charity administration and overheads
Governance costs
Support costs, included in the above, are as follows:
OTHER
Wages and salaries
Rates, insurance and utilities
Upkeep and maintenance
Depreciation of tangible fixed assets
Office and club administration		 Support
Direct
costs (see
Costs
note 7)
£
£
117,914
-
10,671
-
-
221,679
2,008
-
-
2,647
37,786
-
168,379
224,326
Governance
Other
costs
£
£
221,679
-
-
2,647
221,679
2,647
2023
Charity
administration
and
overheads
£
38,014
29,795
74,778
58,023
21,069
221,679		 Totals
£
117,914
10,671
221,679
2,008
2,647
37,786
392,705
Totals
£
221,679
2,647
224,326
2022
Total
activities
£
34,931
25,740
70,360
66,802
20,912
218,745

continued...

Page 10

THE RADLETT LAWN TENNIS AND SQUASH CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

7. SUPPORT COSTS - continued GOVERNANCE COSTS

SUPPORT COSTS - continued
GOVERNANCE COSTS
2023 2022
Governance Total
costs activities
£ £
Examiner's fees 2,257 2,233
Professional fees 390 360
2,647 2,593

8. TRUSTEES' REMUNERATION AND BENEFITS

No trustees received remuneration or benefits during the year.

TRUSTEES' EXPENSES

Trustees' expenses have been reimbursed where small in nature, supported by vouchers and wholly and exclusively for the benefit of the charity.

9. STAFF COSTS

Bar Staff
Office Admin
Apprentice- coaching		 2023
5,223
37,088
19,698
62,009		 2022
4,931
34,931
13,010
52,872

The average monthly number of employees during the year was as follows:

Bar staff
Management and administration
Apprentice- coaching		 2023
1
2
1
4		 2022
1
2
2
5

No employees received emoluments in excess of £60,000.

continued...

Page 11

THE RADLETT LAWN TENNIS AND SQUASH CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

10. TANGIBLE FIXED ASSETS

10.
TANGIBLE FIXED ASSETS
Tennis
and
Clubhouse
squash
and
court
grounds
surfaces
£
£
COST
At 1st January 2023
335,175
430,677
Additions
-
-
At 31st December 2023
335,175
430,677
DEPRECIATION
At 1st January 2023
147,410
229,033
Charge for year
16,759
36,550
At 31st December 2023
164,168
265,583
NET BOOK VALUE
At 31st December 2023
171,007
165,094
At 31st December 2022
187,765
201,644
11.
STOCKS
Stocks
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income		 Clubhouse
and
grounds
£
335,175
-
335,175
147,410
16,759		 Tennis
and
squash
court
surfaces
£
430,677
-
430,677
229,033
36,550		 Furniture
and
Clubhouse
equipment
improvements
Totals
£
£
£
30,493
304,853
1,101,198
861
-
861
31,354
304,853
1,102,059
28,499
284,127
689,069
758
3,956
58,023
29,256
288,083
747,092
2,097
16,770
354,968
1,994
20,726
412,129
2023
2022
£
£
6,123
5,048
2023
2022
£
£
167
346
9,716
11,356
9,883
11,702
164,168
171,007		 265,583
165,094		 29,256
2,097		 288,083
16,770
1,994 20,726
2023
£
6,123
2023
£
167
9,716
9,883

continued...

Page 12

THE RADLETT LAWN TENNIS AND SQUASH CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors
Accruals
Deferred income		 2023
£
11,615
6,510
32,706
50,831		 2022
£
6,831
15,500
57,653
79,984

14. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Unrestricted funds
General reserve
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General reserve
TOTAL FUNDS
Comparatives for movement in funds		 At 1.1.23
£
760,847
760,847
Incoming
resources
£
452,826
452,826		 Net
movement
At
in funds
31.12.23
£
£
60,121
820,968
60,121
820,968
Resources
Movemen
expended
in funds
£
£
(392,705)
60,121
(392,705)
60,121		 At
31.12.23
£
820,968
820,968
60,121
Unrestricted funds
General reserve
TOTAL FUNDS		 At 1.1.22
£
708,948
708,948		 Net
movement
in funds
£
51,899
51,899		 At
31.12.22
£
760,847
760,847

continued...

Page 13

THE RADLETT LAWN TENNIS AND SQUASH CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General reserve
TOTAL FUNDS		 Incoming
resources
£
436,326
436,326		 Resources
Movement
expended
in funds
£
£
(384,427)
51,899
(384,427)
51,899

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General reserve
TOTAL FUNDS		 At 1.1.22
£
708,948
708,948		 Net
movement
in funds
£
112,020
112,020		 At
31.12.23
£
820,968
820,968

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General reserve
TOTAL FUNDS		 Incoming
resources
£
889,150
844,518		 Resources
Movement
expended
in funds
£
£
(777,130)
112,020
(689,494)
112,020

continued...

Page 14

THE RADLETT LAWN TENNIS AND SQUASH CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st December 2023.

Page 15

THE RADLETT LAWN TENNIS AND SQUASH CLUB

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023

INCOME AND ENDOWMENTS
Donations and legacies
Gifts, donations and grants
Other trading activities
Bar takings
Social functions
Investment income
Bank interest
Rent receivable
Charitable activities
Coaching
Entrance, visitor and court fees
Tournaments and leagues
Member subscriptions
Total incoming resources
EXPENDITURE
Charitable activities
Coaching
Tournament and leagues
Affiliations and registration
Other resources expended		 2023
£
24,243
24,243
27,008
1,395
28,403
10,555
10,362
20,917
140,030
27,106
11,279
200,849
379,264
452,826
117,914
10,671
2,008
37,786
168,379		 2022
£
11,717
11,717
29,626
2,680
32,306
2,708
10,902
13,610
150,973
28,276
8,105
191,339
378,693
436,326
117,301
6,553
2,879
36,356
163,089

This page does not form part of the statutory financial statements

Page 16

THE RADLETT LAWN TENNIS AND SQUASH CLUB

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023

Management
Other
Wages and salaries
Rates, insurance and utilities
Upkeep and maintenance
Depreciation of tangible fixed assets
Office and club administration
Governance costs
Examiner's fees
Professional fees
Total resources expended
Net income		 2023
£
38,014
29,795
74,778
58,023
21,069
221,679
2,257
390
2,647
392,705
60,121		 2022
£
34,931
25,740
70,360
66,802
20,912
218,745
2,233
360
2,593
384,427
51,899

This page does not form part of the statutory financial statements

Page 17