The Hunslet Club
Consolidated financial statements Year Ended 31 August 2022
Charity registration number 1124241 Company registration number 06530457
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements
Consolidated financial statements
for the year ended 31 August 2022
| Contents | Page |
|---|---|
| Trustees Annual Report | 1 |
| Independent auditor's report to the members | 9 |
| Consolidated Statement of Financial Activities of the group | 13 |
| Statement of Financial Activities of the parent company | 14 |
| Consolidated Balance sheet | 15 |
| Statement of Cash flows | 16 |
| Notes to the consolidated financial statements | 17 |
The Hunslet Club Company Limited by Guarantee
Trustees annual report
year ended 31 August 2022
The trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements of the charity for the year ended 31 August 2022.
Reference and administrative details Registered charity name The Hunslet Club Charity registration number 1124241 Company registration number 06530457 Registered office Hillidge Road Leeds LS10 1BP
The trustees
The trustees who served the charity during the period were as follows:
Mr Rupert Arnold (resigned 21 January 2022) Mr Andrew Beadnall (Chair) Mr P C Robert Lewis Mr Richard Shaw Ms Nicola Elliott Ms Charlotte Smart Ms Jane Bolton Mr Adam Martell (resigned 17 October 2021) Mr Edward Binks (appointed 11 November 2021) Mr Thomas Bentley (appointed 12 January 2022) Mr Jonathan Morgan (appointed 13 March 2022) Auditor Sagars Accountants Ltd Chartered Accountants & Statutory Auditor Gresham House 5-7 St Pauls Street Leeds LS1 2JG Key management personnel Dennis Robbins David Sadler Jennie Baldwin-Baker D Hall
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The Hunslet Club Company Limited by Guarantee
Trustees annual report
year ended 31 August 2022
The Trustees have pleasure in presenting their report along with the financial statements for the year ended 31 August 2022. The Reference and Administrative Information set out above forms part of this report.
The financial statements have been prepared in accordance with the accounting policies set out on pages 17 to 20 and comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association; and 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).
Chairman’s Report (Andrew Beadnall)
‘Investing in young people is a great return on investment.’ How true this is at The Hunslet Club. It has been the mantra of the Trustees and our Chief Executive Officer following the return of our members after Covid isolation. In this past year the number of members joining the Club has soared to 3,856 resulting in 45,039 individual visits to our Hillidge Road site. Thanks to the generous support of our main Club sponsors this year who have enabled us to offer open access junior and senior youth club 6 days a week.
Society has changed massively throughout the UK in recent years and as a result we have introduced intervention youth workers to our team whose empathetic training has seen 400 interventions with our young people ranging from internet safety, confidence & self-esteem issues to healthy relationships and substance & alcohol misuse. The Trustees are proud we are able to help our members in this ever-changing world which may seem alien to some, but which are problems some of our young people face every day, perhaps at school or at home.
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The Hunslet Club Company Limited by Guarantee
Trustees annual report
year ended 31 August 2022
All the outstanding successes at The Hunslet Club are of course due to the amazing work carried out by our staff and volunteers. Without their selfless commitment to our members none of their achievements would be possible and I thank each and every one of them for all they do.
After 82 years the Club has never been as successful or as strong and as such The Trustees are confident that 2023 will see an exciting announcement concerning our future for years to come.
Structure/ governance and management
The Hunslet Club for Boys and Girls (the “Club”) which was founded in 1940 as Hunslet Boys Club is now governed by its Memorandum and Articles of Association dated 11 March 2008 when its name was changed to the Hunslet Club.
The Club is run by an Executive Board of up to 15 Trustees, which meets five or six times a year and which may delegate any of its powers to specific sub-committees. Additional or replacement Trustees are appointed by the Executive Board, which takes into account their qualifications, experience and suitability. Their appointment is then subject to confirmation by the following Annual General Meeting of the Company. New Trustees are briefed by the existing Trustees and the Chief Executive Officer. New Trustees are also provided with an Induction pack and given a tour of the facility where they are introduced to key employees to enable them to achieve a greater understanding of the day-to-day activities.
In the past year Rupert Arnold resigned from the Trustees board after 9 years of service ending a most valuable family involvement with the Club stretching back some 62 years. Adam Martell also resigned during the year. We welcomed Jamie Bentley, Jonathan Morgan and Ed Binks to the Board, and the Chairman expresses thanks to all fellow Trustees for their work this year.
The Board of Trustees has a wide range of professional experience and expertise but continues to look for other potential trustees. A Skills Register is maintained to monitor needs with regards to expertise and experience.
The Board has established the following sub-committees:
Audit Committee consisting of 4 Trustees, the Chief Executive Officer and the Finance & HR Manager, whose role is to oversee the financial function, meet with the external auditors, update the Risk Register for the Club and ensures that the requirements of the Charity Commission are complied with.
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The Hunslet Club Company Limited by Guarantee
Trustees annual report
year ended 31 August 2022
New Build Committee consisting of 3 Trustees and the Chief Executive Officer, who are responsible for all plans to deliver the proposed rebuild of the Club premises.
Community Homes Committee consisting of 2 Trustees who oversee the activities of the Hunslet Club Community Homes C.I.C.
The Chief Executive has been delegated operational responsibility for decisions on the day to day running of the Charity. The Chief Executive’s responsibilities includes managing staff, compliance with legal and regulatory obligations, ensuring proper financial management and adherence to the Charity’s policies. The Trustees are responsible for establishing appropriate policies to ensure the Charity is adhering to all legal requirements.
Pay and remuneration for the charity’s senior staff and key management personnel is approved by the trustees. Remuneration for other employees is set by the Chief Executive and discussed with the Chair of the Board of Trustees.
Charity Governance Code
The Charity follows the Seven Principles of the Charity Governance Code published in 2017 and updated in 2020.
Risk Management
The Executive Board understand their 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.
A Strategic Risk Register is in place which is reviewed regularly by the Audit Committee and the Board.
Financial review
The financial situation is set out in the financial statements which follow the Trustees’ Report. The income of The Club and its subsidiary’s activities during the year was £1,103,320 (2021 £613,097) with a surplus of £79,037 (2021 £415,795) which has been carried to reserves.
Hunslet Leisure Limited is a subsidiary company which provides function facilities in the Club. The turnover of the subsidiary company during the year was £94,920 (2021 £17,231) with a surplus before the donation to parent charity of £3,789 (2021 deficit £2,467).
The Hunslet Community Homes CIC , which owns 5 investment properties rented to tenants at a social rent, is included in the consolidated accounts and has rental income of £29,500 (2021 £30,000) with a surplus before interest payments on the loan payable to The Hunslet Club and donations to the club of £20,221 (2021 £20,553).
The Hunslet Club receives funding from its education activities, social enterprise, businesses, individual donors, trusts and grant giving organisations.
The Charity’s investment policy is to help secure the long-term viability of the Charity through a policy of aiming to obtain the maximum return on a low risk portfolio of investments. The investment portfolio has been delegated to an independent investment manager to invest in a mixed portfolio which generates income and growth.
Reserves policy
It is the aim of the Club to maintain at any one time sufficient “free reserves” (undesignated funds excluding those represented by tangible fixed assets held for the Club’s own use) to be able to cover its management and administration costs and charitable commitments for at least the succeeding twelve months. At 31 August 2022 the charitable group had free reserves of £704,916 (2021: £2,397,889) having increased amounts set aside for designated future expenditure, after excluding tangible fixed assets. This year’s expenditure was £927,238 (2021: £667,502) and the Trustees consider that the current free reserves policy is appropriate.
The Trustees remain mindful of the increased pressures on the club premises caused by growth in activities of all kinds and are of the view that building and developing new premises and facilities will be critical to the future success of the Charity.
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The Hunslet Club Company Limited by Guarantee
Trustees annual report
year ended 31 August 2022
Objectives and activities
The Charity's objects are” to promote the physical, social and educational development of children and young adults in the city of Leeds and surrounding areas, through the provision of social, recreational, educational and sporting activities and to engage with the wider community by providing facilities for community use."
The Club is open seven days each week and works with over 3800 members offering youth clubs, sport, dance, drama and recreational activities.
During the day (Mon-Fri) we deliver vocational training to young people aged 14-19. The courses delivered are construction, catering, vehicle maintenance, sport, hair and beauty. Students achieve national accredited certificates from BTEC at Level 1.
Achievements and performance
Our Impact
| Members 2021/22 | 3,856 |
|---|---|
| Visits recorded | 47,280 |
| Wards represented in Leeds | 22 |
| Wards represented in Halifax | 1 |
| Wards represented in Wakefield | 9 |
| York | 2 |
| Huddersfield | 2 |
| Bradford | 1 |
Our Values
Our Mission
Our mission is to deliver quality youth work and activities to young people across the City of Leeds at a cost that is affordable to all. To create a space and environment that is welcoming, safe, inclusive and enjoyable for young people to visit.
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The Hunslet Club Company Limited by Guarantee
Trustees annual report
year ended 31 August 2022
Chief Executive Review
This year has been a successful year in many ways, we have increased the number of activities we offer to 106 each week, we recorded the highest membership in our history (3,856), we delivered many successful events with record attendances, and we delivered more free youth sessions than ever before. Much of what we did was driven by the demand from young people after a turbulent 2 years for them and everyone else in the country.
We have had to change our approach like many other organisations, our offer now includes a team of intervention staff who cover all sessions, supporting young people with issues relating to anxiety, stress and general day to day problems. We have seen a large increase in demand for this kind of support in the last 12 months, we believe much of this is due Covid isolation. This has put additional financial strain on the organization but is a much-needed resource that we intend to continue delivering in the future.
For the last 2 years we have focused our attention on evening activities and youth clubs, we reduced the number of students attending our alternative provision, this decision reduced income from our social enterprise substantially, we have used our reserves and investments to cover this loss. Reducing the numbers is a short-term plan, it is our intention to increase places in 2023-2024 to minimize any further loss.
Our building is 52 years old and struggling to cope with the demand, it is also showing major signs of wear and tear, renovation work will need to be carried out in the next 24 months. We have designated 1.2M from our reserves to facilitate the remedial work. Discussions are still on going about building a 9M world class youth facility in Hunslet. We have allocated 1.6M from our reserves for this project, we anticipate an announcement in spring 2023 and building to start in 2024/25.
The Club has retained its senior leadership team for many years, they along with other members of staff are looking forward to challenges ahead in the next few years, they have the experience and drive to move the Hunslet Club forward making it the best place for young people to be and helping them reach their full potential.
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The Hunslet Club Company Limited by Guarantee
Trustees annual report
year ended 31 August 2022
Volunteer helpers
The Club has continued to enjoy the benefit of many volunteer helpers in providing its services. The Trustees are unable to place a monetary value on these services but wish to record their appreciation of, and thanks for, the work of all volunteers from which the Club and its members have benefited during the year.
Fundraising activities
The Hunslet Club uses an external fundraiser to write bids on its behalf, a successful bid was secured with the National Lottery for 3 years to deliver more youth club provision This is currently the second year of successful funding.
Public benefit
The Trustees have had regard to the public benefit guidance published by the Charity Commission throughout the year and have considered the guidance when reviewing the objectives and activities of the charity.
Future Plans
The plans for the forthcoming year are:
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The Club is looking to appoint a Volunteer Coordinator
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To continue working with LCC, OnSide and other partners to create a new world class youth centre in South Leeds
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Continue to develop our relationship with the local business community
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Improve the Hunslet Club facilities by upgrading our existing building making it compliant and safe for our members
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• In partnership with the Football Foundation build a full size 3G pitch on the Oval.
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The Hunslet Club Company Limited by Guarantee
Trustees annual report
year ended 31 August 2022
Responsibilities of the trustees
The trustees (who are also the directors of the Hunslet Club for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable group and company and the income and expenditure of the charitable group and company for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
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there is no relevant audit information of which the charitable company's auditor is unaware; and
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the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
Auditor
Sagars Accountants Ltd are deemed to be re-appointed under section 487(2) of the Companies Act 2006.
Small company provisions
This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.
Registered office:
Signed by order of the trustees
Hillidge Road Leeds LS10 1BP
Andrew Beadnall Chairman
Dated: 11 January 2023
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The Hunslet Club Company Limited by Guarantee
Independent auditor's report to the members of the Hunslet Club
for the year ended 31 August 2022
Opinion
We have audited the group and parent company financial statements of the Hunslet Club (the 'charity') for the year ended 31 August 2022 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity and group’s affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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The Hunslet Club Company Limited by Guarantee
Independent auditor's report to the members of the Hunslet Club
for the year ended 31 August 2022
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of directors' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the directors were not entitled to take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
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The Hunslet Club Company Limited by Guarantee
Independent auditor's report to the members of the Hunslet Club
for the year ended 31 August 2022
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 together with the Charities SORP (FRS102) 2019.
We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context were Charities Commission Regulations and Health and Safety and safeguarding considerations.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be with regards to the timing of recognition of income and the override of controls by management.
Our audit procedures to respond to these risks included:
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enquiries of management and the Trustees about their own identification and assessment of the risks of irregularities,
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sample testing on the posting of journals,
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reviewing accounting estimates for biases,
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reviewing contracts and carrying out detailed substantive testing on the completeness of income,
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reading minutes of meetings of those charged with governance; and
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obtaining confirmation from the trustees that there was no regulatory correspondence with the Charity Commission or other regulatory bodies.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
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The Hunslet Club Company Limited by Guarantee
Independent auditor's report to the members of the Hunslet Club
for the year ended 31 August 2022
Use of our report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Helen Daniels LLB FCA CIOT (Senior Statutory Auditor)
For and on behalf of Sagars Accountants Ltd Chartered accountant & statutory auditor Gresham House 5-7 St Paul's Street Leeds LS1 2JG
Date: …. ………..
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The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Consolidated Statements of financial activities (incorporating Income and Expenditure account) for the year ended 31 August 2022
| Unrestricted | Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | ||
| Note | £ | £ | £ | £ | |
| Income | |||||
| Donations and legacies | 4 | 174,008 | 242,032 | 416,040 | 155,097 |
| Other trading activities | 5 | 119,248 | - | 119,248 | 30,900 |
| Income from investments | 6 | 77,451 | - | 77,451 | 72,368 |
| Income from charitable activities | 7 | 488,581 | - | 488,581 | 354,732 |
| Other income – profit on disposal | 2,000 | - | 2,000 | - | |
| ------------------------------------ | ------------------------- | ------------------------------------ | ------------------------------------- | ||
| Total income | 861,288 | 242,032 | 1,103,320 | 613,097 | |
| ----------------------------------- | ------------------------- | ------------------------------------ | ------------------------------------ | ||
| Expenditure | |||||
| Expenditure on raising funds | 8 | (101,657) | - | (101,657) | (49,304) |
| Expenditure on charitable | |||||
| activities | 9 | (584,336) | (241,245) | (825,581) | (618,198) |
| ----------------------------- | ------------------------- | ----------------------------- | ----------------------------- | ||
| Total expenditure | (685,993) | (241,245) | (927,238) | (667,502) | |
| ----------------------------- | ------------------------- | ----------------------------- | ----------------------------- | ||
| Net (expenditure)/income and | |||||
| net movement before gains and | |||||
| losses on investments | 175,295 | 787 | 176,082 | (54,405) | |
| Realised (losses)/ gains on | |||||
| investments | (9,734) | - | (9,734) | 23,997 | |
| Unrealised (losses)/gains on | |||||
| investments | 15 | (87,311) | - | (87,311) | 282,518 |
| Unrealised gains/(losses) on | |||||
| investments- investment property | 15 | - | - | - | 163,685 |
| ----------------------------- | ------------------------- | ----------------------------- | ----------------------------- | ||
| Net income and movement in | |||||
| funds | 78,250 | 787 | 79,037 | 415,795 | |
| Transfers between funds | - | - | |||
| ----------------------------- | ------------------------- | ----------------------------- | ----------------------------- | ||
| Net movement in funds | 78,250 | 787 | 79,037 | 415,795 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 4,183,277 | 4,864 | 4,188,141 | 3,772,346 | |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | ||
| Total funds carried forward | 4,261,527 | 5,651 | 4,267,178 | 4,188,141 | |
| ====================================== | ====================================== | ====================================== | ====================================== |
The Statement of Financial Activities includes all gains and losses in the year from continuing operations and therefore a statement of total recognised gains and losses has not been prepared.
The notes on pages 17 to 32 form part of these financial statements.
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The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Statements of financial activities of The Hunslet Club (parent undertaking only – incorporating income and expenditure account)
for the year ended 31 August 2022
| for the year ended 31 August | 2022 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Income | ||||
| Donations and legacies | 188,671 | 242,032 | 430,703 | 161,097 |
| Other trading activities | 67,346 | - | 67,346 | 21,848 |
| Income from investments | 57,785 | - | 57,785 | 49,305 |
| Income from charitable activities | 488,581 | - | 488,581 | 354,732 |
| Other income – profit on disposal | 2,000 | - | 2,000 | - |
| ------------------------------------ | ------------------------- | ------------------------------------ | ------------------------------------- | |
| Total income | 802,383 | 242,032 | 1,044,415 | 586,982 |
| ----------------------------------- | ------------------------- | ------------------------------------ | ------------------------------------ | |
| Expenditure | ||||
| Expenditure on raising funds | (42,213) | - | (42,213) | (28,338) |
| Expenditure on charitable | ||||
| activities | (584,336) | (241,245) | (825,581) | (618,198) |
| ----------------------------- | ------------------------- | ----------------------------- | ----------------------------- | |
| Total expenditure | (626,549) | (241,245) | (867,794) | (646,536) |
| ----------------------------- | ------------------------- | ----------------------------- | ----------------------------- | |
| Net(expenditure)/income and net | ||||
| movement before gains and | ||||
| losses on investments | 175,834 | 787 | 176,621 | (59,554) |
| Realised (losses)/ gains on | ||||
| investments | (9,734) | - | (9,734) | 23,997 |
| Unrealised (losses)/gains on | ||||
| investments | (87,311) | - | (87,311) | 282,518 |
| ----------------------------- | ------------------------- | ----------------------------- | ----------------------------- | |
| Net income and movement in | ||||
| funds | 78,789 | 787 | 79,576 | 246,961 |
| Transfers between funds | - | - | - | - |
| ----------------------------- | ------------------------- | ----------------------------- | ----------------------------- | |
| Net movement in funds | 78,789 | 787 | 79,576 | 246,961 |
| Reconciliation of funds | ||||
| Total funds brought forward | 3,996,281 | 4,864 | 4,001,145 | 3,754,184 |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | |
| Total funds carried forward | 4,075,070 | 5,651 | 4,080,721 | 4,001,145 |
| ====================================== | ====================================== | ====================================== | ====================================== |
The Statement of Financial Activities includes all gains and losses in the year from continuing operations and therefore a statement of total recognised gains and losses has not been prepared.
The notes on pages 17 to 32 form part of these financial statements.
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The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Consolidated balance sheet
as at 31 August 2022
| as at 31 August 2022 | |||||
|---|---|---|---|---|---|
| Group | Company | ||||
| 2022 | 2021 | 2022 | 2021 | ||
| Note | £ | £ | £ | £ | |
Fixed assets |
|||||
| Tangible assets | 14 | 592,926 | 621,703 | 554,565 | 582,468 |
| Investments | 15 | 2,711,308 | 2,621,441 | 2,011,408 | 1,921,541 |
| Programme related investments | 16 | - | - | 461,599 | 461,599 |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | ||
| 3,304,234 | 3,243,144 | 3,027,572 | 2,965,608 | ||
| Current assets | |||||
| Debtors | 17 | 106,236 | 53,817 | 168,571 | 106,110 |
| Stock | 6,269 | 7,200 | 2,700 | 3,650 | |
| Cash at bank | 961,683 | 984,202 | 933,517 | 984,202 | |
| ------------------------------------- | -------------------------------------- | ----------------------------- | ------------------------------------- | ||
| 1,074,188 | 1,045,219 | 1,104,788 | 1,075,883 | ||
| Creditors: Amounts falling due within | |||||
| one year | 18 | (61,244) | (50,222) | (51,639) | (40,346) |
| ----------------------------- | -------------------------------------- | ----------------------------- | -------------------------------------- | ||
| Net current assets | 1,012,944 | 994,997 | 1,053,149 | 1,035,537 | |
| ------------------------------------ | ----------------------------------- | ------------------------------------ | -------------------------------------- | ||
| Provisions | 19 | (50,000) | (50,000) | - | - |
| ---------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | ||
| Net assets | 4,267,178 | 4,188,141 | 4,080,721 | 4,001,145 | |
| ========================================= | ====================================== | ====================================== | ===================================== | ||
| Funds | |||||
| Restricted income funds | 22 | 5,651 | 4,864 | 5,651 | 4,864 |
| Unrestricted income funds: | |||||
| Designated funds | 23 | 3,354,565 | 1,000,000 | 3,354,565 | 1,000,000 |
| Other unrestricted income funds | 23 | 743,277 | 3,019,592 | 720,505 | 2,996,281 |
| Fair value reserve | 163,685 | 163,685 | - | - | |
| ----------------------------------- | -------------------------------------- | ----------------------------------- | -------------------------------------- | ||
| Total funds | 4,267,178 | 4,188,141 | 4,080,721 | 4,001,145 | |
| ====================================== | ====================================== | ====================================== | ====================================== |
These financial statements were approved by the directors and authorised for issue on 11 January 2023 and are signed on their behalf by:
Andrew Beadnall Chairman
Company Registration Number 06530457
The notes on pages 17 to 32 form part of these financial statements.
- 15 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31August 2022
Statement of cash flows
Year ended 31 August 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 79,037 | 415,795 |
| Adjustments for: | ||
| Net losses/(gains) on investments | 97,045 | (470,200) |
| Dividends, interest and rents from investments | (73,969) | (72,071) |
| Profit on sale of fixed assets | (2,000) | - |
| Other interest receivable and similar income | (3,482) | (297) |
| Depreciation | 43,939 | 44,281 |
| Taxation | (1,619) | (1,746) |
| Changes in: | ||
| Trade and other debtors | (52,354) | 73,775 |
| Trade and other creditors | 12,576 | 20,205 |
| Stock | 931 | 1,234 |
| ------------------------------ | ------------------------------ | |
| Cash generated from operations | 100,104 | 10,976 |
| Interest received | 3,482 | 297 |
| ------------------------------ | ------------------------------ | |
| Net cash used in operating activities | 103,586 | 11,273 |
| ============================== | ============================== | |
| Cash flows from investing activities | ||
| Dividends, interest and rents from investments | 73,969 | 72,071 |
| Purchases of other investments | (301,669) | (267,335) |
| Purchase of fixed assets | (15,162) | - |
| Proceeds from sale of other investments | 114,757 | 266,950 |
| Proceeds from sale of fixed assets | 2,000 | - |
| -------------------------------------- | -------------------------------------- | |
| Net cash from investing activities | (126,105) | 71,686 |
| ====================================== | ====================================== | |
| Net (decrease)/ increase in cash and cash equivalents | (22,519) | 82,959 |
| Cash and cash equivalents at beginning of year | 984,202 | 901,243 |
| ------------------------------ | ------------------------------ | |
| Cash and cash equivalents at end of year | 961,683 | 984,202 |
| ============================== | ============================== |
The notes on pages 17 to 32 form part of these financial statements.
- 16 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
1. Company information
The principal activity of the Charity during the year was to promote the physical, social and educational development of children and young adults in the city of Leeds and surrounding areas, through the provision of social, recreational and sporting activities and to engage with the wider community by providing facilities for community use. More information is included in the Trustees report on pages 1 to 8.
The charity is a company limited by guarantee which is incorporated and registered in England (no. 06530457) and Registered Charity no. 1124241. The address of the registered office is:
Hillidge Road Leeds LS10 1BP
2. Accounting policies
Basis of preparation and assessment of going concern
The financial statements have been prepared under the historical cost convention, with items recognised as cost unless otherwise stated in relevant notes to these financial statements, and in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Hunslet Club meets the definition of a public benefit entity under FRS 102.
Going Concern
The trustees, having made due and careful enquiry, are of the opinion that the charity has adequate working capital to execute its operations over the next 12 months. The trustees, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the charity had adequate resources to continue in operational existence for the foreseeable future.
As a result, the trustees have continued to adopt the going concern basis of accounting in preparing the annual financial statements.
Group financial statements
The group accounts consolidate the accounts of the company and its wholly owned subsidiaries, Hunslet Leisure Limited and Hunslet Club Community Homes CIC made up to 31 August each year.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.
- 17 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
2. Accounting policies (continued)
Listed investments
All quoted purchased investments are shown in the balance sheet at their market value at the year end date.
Realised gains and losses comprise the surplus or deficit of the disposal proceeds (less costs) of investments sold during the year over their market value at the end of the previous year, or, if purchased during the year, over their cost.
Unrealised gains and losses represent:
A) for investments held throughout the year the difference between their market values at the start and end of the year, and
B) for investments purchased in the year and held at the end of the year the difference between the purchase cost and their market value at the year end.
Investment properties
Investment properties are shown at their fair value.
Investment properties are initially recorded at cost, and subsequently stated at fair value in accordance with FRS 102. The increase in fair value less associated deferred tax is held in a fair value reserve.
Programme related investments
Programme related investments relate to resources used to finance the charity’s objectives through an independent organisation.
The investment is initially stated at cost and is reviewed for impairment on an annual basis.
Fund accounting
Funds held by the group are either:
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
Restricted funds - these are funds that 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 restricted fund is included in the notes to the financial statements
Fixed assets
All fixed assets are initially recorded at cost.
Items below £2,500 and those which have no useful economic life greater than 12 months are not capitalised.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings & Equipment - over five / ten years straight line Motor Vehicles - over five years straight line Freehold Property - over fifty years straight line Recreation Area - over fifteen years straight line
- 18 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
2. Accounting policies (continued)
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Recognition of liabilities
The charity recognises liabilities at the time when a legal or constructive obligation giving rise to an outflow of resources is deemed to arise.
Pension costs
The group contributes on an accruals basis to a personal pension scheme operated by Friends Provident Institution and a NEST scheme. Contributions to this scheme are accounted for in the same period as the related salary.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Donations and similar resources
Income from donations, legacies and appeals are accounted for on a receivable basis and are accounted for subject to entitlement. The Hunslet Club ensures that donations are only accounted for if there is certainty over entitlement and measurement and the accounting system ensures that monies donated are allocated to the correct funds on the basis of entitlement and specificity.
Income from charitable activities
Grants receivable for immediate expenditure are accounted for when due, as long as there is reasonable certainty regarding receipt. Grants restricted to future accounting periods are deferred and recognised in those periods.
Grants received for specific purposes are treated as restricted funds.
Income from charitable activities consists of income arising from charges made for the provision of services to the charity’s beneficiaries and are included when receivable.
Other trading activities
Fund raising income includes amounts receivable from non-charitable trading (mainly income from letting the charity’s premises to outside organisations) and the proceeds of fund-raising events.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performancerelated conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
- 19 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
2. Accounting policies (continued)
Resources expended
Resources expended are included in the Statement of Financial Activities on the accruals basis, inclusive of any irrecoverable VAT and are allocated to the charity’s activities as follows:-
Costs of activities in furtherance of the charity’s objects comprise the direct costs of providing services to beneficiaries, together with an appropriate proportion of overheads.
Fundraising and publicity costs comprise the costs, including attributable overheads, associated with the provision of non-charitable trading activities, fund-raising events and publicity, including website costs.
Staff costs are allocated among the various activities on the basis of the Trustees’ best estimate of the proportion of time spent by individual members of staff on each activity. Overheads are allocated among activities on the basis of the Trustee’s best estimate of the proportion of relevant resources used for each activity.
Gifts in kind
Gifts in kind are recognised as follows:-
-
a) assets given for distribution by the charity are included in the Statement of Financial Activities only when distributed;
-
b) assets given for use by the charity are included in the Statement of Financial Activities as incoming resources when receivable; and
-
c) gifts in kind for subsequent conversion into cash by the charity are included in the accounting period in which the gift is sold.
Support costs
Support costs are defined as those which are incurred in directly supporting the service delivery and project work.
Taxation
The charity has exemption from taxation under Section 505(1) (e) (i) Income and Corporation Taxes Act 1988. Taxation is provided on profits on non exempt trading income.
Deferred tax is recognised in respect of all timing differences that would be subject to UK Corporation tax at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
- 20 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
3. Consolidated Statement of financial activities for the comparative period
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Income | |||
| Donations and legacies | 14,142 | 140,955 | 155,097 |
| Other trading activities | 30,900 | - | 30,900 |
| Investments | 72,368 | - | 72,368 |
| Income from charitable activities | 354,732 | - | 354,732 |
| ------------------------------------ | ----------------------------- | ------------------------------------ | |
| Total income | 472,142 | 140,955 | 613,097 |
| ----------------------------------- | ---------------------------- | ----------------------------------- | |
| Expenditure on: | |||
| Raising funds | (49,304) | - | (49,304) |
| Charitable activities | (472,309) | (145,889) | (618,198) |
| -------------------------------------- | -------------------------------- | --------------------------------------- | |
| Total expenditure | (521,613) | (145,889) | (667,502) |
| -------------------------------------- | -------------------------------- | -------------------------------------- | |
| Net income and net movement before gains | |||
| and losses on investments | (49,471) | (4,934) | (54,405) |
| Realised gains on investments | 23,997 | - | 23,997 |
| Unrealised gains on investments – managed | |||
| investment portfolio | 282,518 | - | 282,518 |
| Unrealised gains on investments – investment | |||
| property | 163,685 | - | 163,685 |
| ------------------------------------- | ----------------------------------------- | --------------------------------------------- | |
| Net income and movement in funds | 420,729 | (4,934) | 415,795 |
| ========================= | ========================= | ============================== |
- 21 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Sir George Martin Trust | - | 5,000 | 5,000 | 5,000 |
| GMI Construction | - | 5,000 | 5,000 | - |
| Healthy Holidays | - | 26,804 | 26,804 | 31,792 |
| The Hunslet Trust | 164,236 | - | 164,236 | 4,000 |
| Leeds City Council | - | 20,800 | 20,800 | 9,000 |
| Linley and Simpson | - | - | 5,000 | |
| RHS Community Wellbeing | - | 10,000 | 10,000 | - |
| The National Lottery Community Fund | - | 112,901 | 112,901 | 34,798 |
| Onside – Onward grant agreement | - | - | - | 23,075 |
| Paul Sparos | - | 5,000 | 5,000 | 5,000 |
| Sport England | - | 10,000 | 10,000 | 20,000 |
| ESF Groundworks | - | 8,702 | 8,702 | - |
| Street Games | - | - | - | 5,500 |
| Wades | - | 10,000 | 10,000 | 5,000 |
| Digitronix | - | 5,000 | 5,000 | - |
| RHODAR | - | 5,000 | 5,000 | - |
| Denton Charitable Trust | - | 15,000 | 15,000 | - |
| Maryland Trust | 5,000 | - | 5,000 | - |
| Other donations | 4,772 | 2,825 | 7,597 | 6,932 |
| ----------------------------- | ------------------------- | ----------------------------- | ----------------------------- | |
| 174,008 | 242,032 | 416,040 | 155,097 | |
| ============================= | ========================= | ============================= | ====================================== |
The charity benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.
5. Other trading activities
| Other trading activities | |||
|---|---|---|---|
| Unrestricted | Total Funds | Total Funds | |
| Funds | 2022 | 2021 | |
| £ | £ | £ | |
| Charges for use of facilities | 102,828 | 102,828 | 22,826 |
| Fundraising events | 16,040 | 16,040 | 7,880 |
| Other income | 380 | 380 | 194 |
| --------------------------------- | --------------------------------- | --------------------------------- | |
| 119,248 | 119,248 | 30,900 | |
| ================================= | ============================= | ============================= | |
| Income from investments | |||
| Unrestricted | Total Funds | Total Funds | |
| Funds | 2022 | 2021 | |
| £ | £ | £ | |
| Income from UK listed investments | 44,469 | 44,469 | 42,071 |
| Bank interest receivable | 3,482 | 3,482 | 297 |
| Rent receivable | 29,500 | 29,500 | 30,000 |
| ----------------------------- | ----------------------------- | ----------------------------- | |
| 77,451 | 77,451 | 72,368 | |
| ============================= | ============================= | ============================= |
6. Income from investments
- 22 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
7. Income from charitable activities
| Unrestricted | Total Funds | Total Funds | ||
|---|---|---|---|---|
| Funds | 2022 | 2021 | ||
| £ | £ | £ | ||
| Service delivery | 321,336 | 321,336 | 217,467 | |
| Charges for use of facilities and evening clubs | 110,504 | 110,504 | 52,389 | |
| Sale of Club Kit | 177 | 177 | 5,159 | |
| Tuck shop and canteen income | 56,564 | 56,564 | 13,136 | |
| Coronavirus Job Retention Scheme | - | - | 66,581 | |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | ||
| 488,581 | 488,581 | 354,732 | ||
| ====================================== | ====================================== | ====================================== | ||
| Expenditure on raising funds | ||||
| Unrestricted | Total Funds | Total Funds | ||
| Funds | 2022 | 2021 | ||
| £ | £ | £ | ||
| Costs of generating voluntary income | 20,845 | 20,845 | 11,820 | |
| Costs of fundraising trading | 60,496 | 60,496 | 18,256 | |
| Costs of managing investments | 13,985 | 13,985 | 12,281 | |
| Costs of programme related investments | 6,331 | 6,331 | 6,947 | |
| --------------------------------- | --------------------------------- | --------------------------------- | ||
| 101,657 | 101,657 | 49,304 | ||
| ============================= | ============================= | ========================= | ||
| Expenditure on charitable activities by fund | type | |||
| Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Staff costs | 274,353 | 113,051 | 387,404 | 247,279 |
| Support and governance costs | 301,105 | 7,892 | 308,997 | 282,826 |
| Other direct costs | 104,264 | 24,946 | 129,180 | 88,093 |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | |
| 584,336 | 241,245 | 825,581 | 618,198 | |
| ====================================== | ====================================== | ====================================== | ====================================== |
8. Expenditure on raising funds
9. Expenditure on charitable activities by fund type
10. Analysis of support and governance costs
| General | Governance | Total Funds | Total Funds | |
|---|---|---|---|---|
| support | function | 2022 | 2021 | |
| £ | £ | £ | ||
| Salaries, training and recruitment | 180,546 | - | 180,546 | 176,924 |
| Printing, stationery and postage | 2,428 | - | 2,428 | 1,699 |
| Telephone | 2,198 | - | 2,198 | 1,872 |
| Repairs and maintenance | 33,095 | - | 33,095 | 24,041 |
| Rent, rates and water | 10,071 | - | 10,071 | 3,623 |
| Light and heat | 7,384 | - | 7,384 | (391) |
| Insurance | 15,630 | - | 15,630 | 16,266 |
| Premises expenses | 20,475 | - | 20,475 | 19,860 |
| Advertising | 1,007 | - | 1,007 | 268 |
| Travel and entertainment | 2,313 | - | 2,313 | - |
| Depreciation | 12,320 | - | 12,320 | 12,607 |
| Legal and professional fees | 7,263 | 326 | 7,589 | 9,363 |
| Audit fees | - | 13,130 | 13,130 | 10,380 |
| Costs of Annual General Meeting | - | 163 | 163 | 42 |
| Other support costs | 648 | - | 648 | 6,272 |
| ------------------------- | ------------------------- | ------------------------- | ------------------------- | |
| 295,378 | 13,619 | 308,997 | 282,826 | |
| ========================= | ========================= | ========================= | ========================= |
- 23 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
11. Net incoming resources for the year
This is stated after charging:
| This is stated after charging: | ||
|---|---|---|
| 2022 | 2021 | |
| £ | ||
| Staff pension contributions | 21,213 | 19,154 |
| Depreciation | 43,939 | 44,281 |
| Auditors' remuneration: | ||
| - audit of the financial statements | 10,580 | 9,640 |
| - preparation of financial statements | 7,430 | 5,852 |
| ========================= | ========================= | |
| Analysis of staff costs and the cost of key management personnel | ||
| Total staff costs were as follows: | ||
| 2022 | 2021 | |
| £ | £ | |
| Wages and salaries | 524,652 | 391,669 |
| Social security costs | 36,691 | 25,201 |
| Other pension costs | 21,213 | 19,154 |
| -------------------------------------- | -------------------------------------- | |
| 582,556 | 436,024 | |
| ====================================== | ====================================== | |
| Particulars of employees: | ||
| The average number of employees during the year, was as follows: | ||
| 2022 | 2021 | |
| No | ||
| Number of staff | 43 | 30 |
| ============= | ============= | |
| The number of employees whose annual remuneration was £60,000 or | more were: | |
| 2022 | 2021 | |
| No | ||
| £60,000 to £69,999 | 1 | - |
| ============= | ============= |
12. Analysis of staff costs and the cost of key management personnel
The key management personnel of the parent charity is detailed on page 1 of this report. The total employee benefits of the key management personnel of the charity were £182,316 (2021: £160,407).
13. Trustee remuneration
No remuneration was paid to the trustees during the year. No travel expenses were reimbursed to trustees during the year (2021: no remuneration or travel expenses were reimbursed to trustees).
- 24 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
14. Tangible fixed assets
| GROUP | Recreation | Fixtures & | Motor | Freehold | |
|---|---|---|---|---|---|
| Area | Equipment | Vehicles | Properties | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 1 Sep 2021 | 444,355 | 194,859 | 62,831 | 659,693 | 1,361,738 |
| Additions | - | 15,162 | - | - | 15,162 |
| Disposals | - | - | (9,000) | - | (9,000) |
| ------------------------------ | ----------------------------- | ------------------------- | ----------------------------- | ------------------------------------- | |
| At 31 Aug 2022 | 444,355 | 210,021 | 53,831 | 659,693 | 1,367,900 |
| ============================ | ============================= | ========================= | ============================= | =================================== | |
| Depreciation | |||||
| At 1 Sep 2021 | 345,201 | 188,392 | 62,831 | 143,611 | 740,035 |
| Charge for the year | 29,624 | 1,121 | - | 13,194 | 43,939 |
| Disposals | - | - | (9,000) | - | (9,000) |
| ----------------------------- | ----------------------------- | ----------------------------- | ----------------------------- | ----------------------------- | |
| At 31 Aug 2022 | 374,825 | 189,513 | 53,831 | 156,805 | 774,974 |
| ============================= | ========================= | ========================= | ======================== | ============================= | |
| Net book value | |||||
| At 31 Aug 2022 | 69,530 | 20,508 | - | 502,888 | 592,926 |
| ============================= | ========================= | ======================= | ============================ | ============================= | |
| At 31 Aug 2021 | 99,154 | 6,467 | - | 516,082 | 621,703 |
| ============================= | ========================= | ======================= | ============================ | ============================= | |
| COMPANY | Recreation | Fixtures & | Motor | Freehold | |
| Area | Equipment | Vehicles | Properties | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 1 Sep 2021 | 444,355 | 184,064 | 62,831 | 616,013 | 1,307,263 |
| Additions | - | 15,162 | - | - | 15,162 |
| Disposals | - | - | (9,000) | - | (9,000) |
| ---------------------------- | ----------------------------- | ------------------------- | ----------------------------- | ------------------------------------- | |
| At 31 Aug 2022 | 444,355 | 199,226 | 53,831 | 616,013 | 1,313,425 |
| ============================ | ============================= | ========================= | ============================= | ==================================== | |
| Depreciation | |||||
| At 1 Sep 2021 | 345,201 | 181,520 | 62,831 | 135,243 | 724,795 |
| Charge for the year | 29,624 | 1,121 | - | 12,320 | 43,065 |
| Disposals | - | - | (9,000) | - | (9,000) |
| ------------------------------ | ----------------------------- | ------------------------- | ------------------------- | ----------------------------- | |
| At 31 Aug 2022 | 374,825 | 182,641 | 53,831 | 147,563 | 758,860 |
| ============================= | ============================= | ========================= | ========================= | ============================= | |
| Net book value | |||||
| At 31 Aug 2022 | 69,530 | 16,585 | - | 468,450 | 554,565 |
| ============================= | ========================= | ========================= | ============================== | ============================= | |
| At 31 Aug 2021 | 99,154 | 2,544 | - | 480,770 | 582,468 |
| ============================= | ========================= | ========================= | ============================= | ============================= |
The net book value at 31 August 2022 above represents fixed assets used for direct charitable purposes.
- 25 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
15. Investments
Movement in market value
| Movement in market value | |||||
|---|---|---|---|---|---|
| Group | Company | ||||
| 2022 | 2021 | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Market value at 1 September 2021 | 2,621,441 | 2,100,856 | 1,921,541 | 1,614,641 | |
| Acquisitions at cost | 301,669 | 267,336 | 301,669 | 267,336 | |
| Disposals at opening book value | (124,491) | (242,954) | (124,491) | (242,954) | |
| Net (losses)/gains on revaluation in the year ended | |||||
| 31 August 2022 | (87,311) | 496,203 | (87,311) | 282,518 | |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | ||
| Market value at 31 August 2022 | 2,711,308 | 2,621,441 | 2,011,408 | 1,921,541 | |
| ========================================= | ====================================== | ====================================== | ====================================== | ||
| Historical cost at 31 August 2022 | 2,127,429 | 1,918,169 | 1,641,214 | 1,431,954 | |
| ================================== | ===================================== | ====================================== | ====================================== |
Analysis of investments at 31 August 2022
| Group | Company | Company | |||
|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||
| Listed investments | £ | £ | £ | £ | |
| UK Quoted Shares | 733,263 | 755,399 | 733,263 | 755,399 | |
| Non-UK Quoted Shares | 629,166 | 610,054 | 629,166 | 610,054 | |
| Alternative strategies funds | 388,484 | 383,064 | 388,484 | 383,064 | |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | ||
| 1,750,913 | 1,748,517 | 1,750,913 | 1,748,517 | ||
| Other investments | |||||
| UK Group undertakings | - | - | 100 | 100 | |
| UK Fixed Interest | 134,222 | 156,606 | 134,222 | 156,606 | |
| UK Cash held as part of Portfolio | 126,173 | 16,318 | 126,173 | 16,318 | |
| Property | 700,000 | 700,000 | - | - | |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | ||
| 960,395 | 872,924 | 260,495 | 173,024 | ||
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | ||
| 2,711,308 | 2,621,441 | 2,011,408 | 1,921,541 | ||
| ================================== | ================================== | ================================== | ====================================== |
All investments are held in unrestricted funds.
UK group undertakings
The company holds 100 issued ordinary shares (100%) of a trading company Hunslet Leisure Limited (No. 07647223) incorporated in England and Wales on 25 May 2011. This company’s principal activity is the provision of function facilities.
The results of Hunslet Leisure Limited are included in the Consolidated Statement of Financial activities on a line by line basis in accordance with SORP FRS102. Turnover for the period to 31 August 2022 amounted to £94,920 (2021: £17,231), with associated expenses of £91,131 (2021: £19,854), leaving a net profit/(loss) before gift aid of £3,789 (2021: (£2,623)). A donation was made to the parent charity of £4,663 (2021: £nil) leaving a (loss) after tax and gift aid of (£874) (2021: (£2,467)). Net assets of the company are £8,799 (2021: £5,010).
The company controls The Hunslet Club Community Homes CIC (No. 08713540) incorporated in England and Wales on 1 October 2013. This company’s principal activity is the renovation and rental of residential property.
- 26 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
15. Investments (continued)
The results of The Hunslet Club Community Homes CIC are included in the Consolidated Statement of Financial activities on a line by line basis in accordance with Charities SORP (FRS 102). Turnover for the period to 31 August 2022 amounted to £29,500 (2021: £30,000), with associated expenses of £19,113 (2021: £14,640), which includes interest paid or accrued in relation to the loan from The Hunslet Club of £9,834 (2021: £6,937). In addition, a donation was made to the parent charity of £10,000 (2021: £6,000), leaving a net profit after tax but before revaluation of properties in 2021 (see below) of £335 (2021: £7,616). Net assets of the company are £182,421 (2021: £182,086). In 2021 there was an uplift in the value of the investment properties by £213,685 from £486,315 to £700,000. As a result of the revaluation, a deferred tax charge of £50,000 has been accounted for in the accounts for The Hunslet Club Community Homes CIC. The fair value movement less associated deferred tax has been credited to a fair value reserve and is shown as an unrealised gain on investment property in the Consolidated Statement of Financial Activities (2022- £163,685, 2021- £163,685)
16. Programme related investments
| Group | Company | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| At 1 Sep 2021 | - | - | 461,599 | 471,399 | |
| Repayments | - | - | - | (9,800) | |
| ----------------------------- | ----------------------------- | ----------------------------- | ----------------------------- | ||
| At 31 Aug 2022 | - | - | 461,599 | 461,599 | |
| ============================= | ============================= | ============================= | ============================= |
The programme related investments of £461,599 relate to a loan to The Hunslet Club Community Homes CIC and is subject to a formal loan agreement and is repayable either on 10[th] February 2027 or anytime forthwith on demand. Interest at 1.5% above base rate is payable annually in arrears. The interest charged in the year ended 31 August 2022 is £9,834 (2021: £6,937).
17. Debtors
| Debtors | ||||
|---|---|---|---|---|
| Group | Company | |||
| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Trade debtors | 81,014 | 35,125 | 91,221 | 37,804 |
| Amounts owed by group undertakings | - | - | 51,943 | 47,280 |
| Other debtors | 25,222 | 18,692 | 25,407 | 21,026 |
| ----------------------------- | ----------------------------- | ----------------------------- | ----------------------------- | |
| 106,236 | 53,817 | 168,571 | 106,110 | |
| ============================= | ============================= | ============================= | ============================= | |
| Creditors: Amounts falling due within one year | ||||
| Group | Company | |||
| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Trade creditors | 8,357 | 4,092 | 6,350 | 2,446 |
| Corporation tax | - | 1,554 | - | - |
| Taxation and social security | 7,780 | 8,325 | 7,780 | 7,792 |
| Other creditors | 45,107 | 36,251 | 37,509 | 30,108 |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | |
| 61,244 | 50,222 | 51,639 | 40,346 | |
| ============================ | ========================= | ============================ | ============================= |
18. Creditors: Amounts falling due within one year
Included in other creditors is deferred income of £17,399 (2021- £17,399). Income is deferred when the criteria to recognise it as income has not been met.
- 27 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
19. Provisions
| Provisions | ||||
|---|---|---|---|---|
| Group | Company | |||
| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Deferred tax provision in respect of fair value | ||||
| gain on revaluation of investment properties | 50,000 | 50,000 | - | - |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | |
| 50,000 | 50,000 | - | - | |
| ============================ | ========================= | ============================ | ============================= |
20. Pensions
The Club contributes to a group personal pension plan on behalf of its employees. Contributions in the year totalled £21,213 (2021: £19,154) as set out in notes 11 and 12. The amount payable to the scheme at the year end was £2,559 (2021: £2,559).
21. Commitments under operating leases - Group
At 31 August 2022 the charitable group’s future minimum operating lease payments are as follows:
| Assets other than | ||
|---|---|---|
| Land and buildings | ||
| 2022 | 2021 | |
| £ | £ | |
| Operating leases which expire: | ||
| Within 2 to 5 years | - |
540 |
| ========================= | ========================= |
22. Restricted income funds - Group and Company
| Outgoing | |||||
|---|---|---|---|---|---|
| Balance at | Incoming | resources and | Transfers | Balance at | |
| 1 Sept 2021 | resources | transfers | between funds | 31 Aug 2022 | |
| £ | £ | £ | £ | £ | |
| People’s Postcode Lottery | 3,614 | - | (3,614) | - | - |
| Sir George Martin Trust | - | 5,000 | (5,000) | - | - |
| Inner South Community | |||||
| Comm – Monday Evening | - | 18,900 | (18,900) | - | - |
| Inner South Community | |||||
| Comm –Fireworks | - | 1,900 | (1,900) | - | - |
| Healthy Holidays | - | 26,804 | (26,804) | - | - |
| The Hunslet Trust | - | 5,000 | (632) | - | 4,368 |
| The National Lottery | |||||
| Community Fund | - | 112,901 | (112,901) | - | - |
| Sport England | 1,250 | - | (1,250) | - | - |
| Wades | - | 10,000 | (10,000) | - | - |
| RHS – Comm wellbeing | - | 10,000 | (9,039) | - | 961 |
| Sport England - Rugby | - | 10,000 | (10,000) | - | - |
| ESF groundworks | - | 8,702 | (8,702) | - | - |
| Digitronix | - | 5,000 | (5,000) | - | - |
| RHODAR | - | 5,000 | (5,000) | - | - |
| Denton Charitable Trust | - | 15,000 | (15,000) | - | - |
| Paul Sparos | - | 5,000 | (5,0000 | - | - |
| Other restricted income | |||||
| £1,500 and under | - | 2,825 | (2,503) | - | 322 |
| ---------------------------------- | ---------------------------------- | ---------------------------------- | ---------------------------------- | ---------------------------------- | |
| 4,864 | 242,032 | (241,245) | - | 5,651 | |
| ====================================== | ========================= | ========================= | ===================================== | ====================================== |
- 28 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
22. Restricted income funds - Group and Company (continued)
Details of restricted funds
Restricted funds have arisen because donors have placed restrictions on incoming resources.
The following grants have been given to cover ongoing projects costs, the balances are reducing as further expenditure is made:
People’s Postcode Lottery – funding received for dance together project
Sir George Martin Trust – funding for Youth Club project
Inner South Community Committee – funding for Monday Evening project and Halloween, Fireworks and Christmas market
Healthy Holidays - funding for school holiday camp for children who are vulnerable to hunger
The Hunslet Trust – funding for youth, rugby and football
Leeds City council – funding for chef and contribution towards local gala
The National Lottery Community Fund – RC Yorkshire and Humber Region - funding for the Hunslet Youth in Need project to support 2,000 children and young people to take part in activities based at the Club
Sport England – 3 separate grants for exercise for girls 16+, junior rugby and boxing return to play
Wades – funding for Youth Club project
RHS – Community wellbeing – funding for gardening project
Sport England – Rugby League survival fund
ESF groundworks – funding for vocational learning project
Digitronix – funding for Youth club sessions
RHODAR – funding for Youth club sessions
Denton Charitable Trust – funding for Youth club sessions Paul Sparos – funding for Youth club sessions
23. Unrestricted income funds
| Group 2022 | Balance at | Incoming | Outgoing | Transfers / | Balance at |
|---|---|---|---|---|---|
| 1 Sept 2021 | resources | resources | Gains & Losses | 31 August 2022 | |
| £ | £ | £ | £ | £ | |
| New build | |||||
| development fund | 1,000,000 | - | - | 600,000 | 1,600,000 |
| Fixed asset reserve | - | - | - | 554,565 | 554,565 |
| Property | |||||
| improvements and | |||||
| renewals | - | - | - | 1,000,000 | 1,000,000 |
| Upgrade of playing | |||||
| surface | - | - | - | 200,000 | 200,000 |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | |
| Designated funds | 1,000,000 | - | - | 2,354,565 | 3,354,565 |
| Other unrestricted | |||||
| income funds | 3,019,592 | 861,288 | (685,993) | (2,451,610) | 743,277 |
| Fair value reserve | 163,685 | - | - | - | 163,685 |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | |
| 4,183,277 | 861,288 | (685,993) | (97,045) | 4,261,527 | |
| ====================================== | ====================================== | ====================================== | =================================== | ====================================== |
- 29 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
23. Unrestricted income funds (continued)
| Company 2022 | Balance at | Incoming | Outgoing | Transfers/ |
Balance at |
|---|---|---|---|---|---|
| 1 Sept 2021 | resources | resources | Gains & Losses |
31 August 2022 | |
| £ | £ | £ | £ | £ | |
| New build | |||||
| development fund | 1,000,000 | - | - | 600,000 | 1,600,000 |
| Fixed asset reserve | - | - | - | 554,565 | 554,565 |
| Property | |||||
| improvements and | |||||
| renewals | - | - | - | 1,000,000 | 1,000,000 |
| Upgrade of playing | |||||
| surface | - | - | - | 200,000 | 200,000 |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | |
| Designated funds | 1,000,000 | - | - | 2,354,565 | 3,354,565 |
| Other unrestricted | |||||
| income funds | 2,996,281 | 802,383 | (626,549) | (2,451,610) | 720,505 |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | |
| 3,996,281 | 802,383 | (626,549) | (97,045) | 4,075,070 | |
| ====================================== | ====================================== | ====================================== | =================================== | ====================================== |
The Trustees have designated unrestricted reserves of £1,600,000 in the form of investments held for the development of new premises and facilities as outlined in the Trustees Report.
In addition, three new designated funds have been created;
-
A fixed asset reserve, which represents the Charity’s unrestricted funds held in the net book value of fixed assets
-
£1,000,000 designated reserve for the required improvements and renewals to the property currently occupied by the Charity
-
£200,000 designated reserve for a new all weather 3G playing surface
| Group 2021 | Balance at | Incoming | Outgoing | Transfers / | Balance at |
|---|---|---|---|---|---|
| 1 Sept 2020 | resources | resources | Gains & Losses | 31 August 2021 | |
| £ | £ | £ | £ | £ | |
| New build | |||||
| development fund | 1,000,000 | - | - | - | 1,000,000 |
| Other unrestricted | |||||
| income funds | 2,762,548 | 472,142 | (521,613) | 306,515 | 3,019,592 |
| Fair value reserve | - | - | - | 163,685 | 163,685 |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | |
| 3,726,148 | 472,142 | (521,613) | (470,200) | 4,183,277 | |
| ====================================== | ====================================== | ====================================== | =================================== | ====================================== |
As explained in note 15, the property owned by The Hunslet Club Community Homes CIC, an entity controlled by The Hunslet Club and included in the consolidated financial statements, was revalued in the period. The fair value gains of £213,685 less associated deferred tax of £50,000 has been credited to a fair value reserve.
| Company 2021 | Balance at | Incoming | Outgoing | Transfers/ | Balance at |
|---|---|---|---|---|---|
| 1 Sept 2020 | resources | resources | Gains & Losses | 31 August 2021 | |
| £ | £ | £ | £ | £ | |
| New build | |||||
| development fund | 1,000,000 | - | - | - | 1,000,000 |
| Other unrestricted | |||||
| income funds | 2,744,386 | 446,027 | (500,647) | 306,515 |
2,996,281 |
| -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | -------------------------------------- | |
| 3,744,386 | 446,027 | (500,647) | 306,515 |
3,996,281 | |
| ====================================== | ====================================== | ====================================== | ================================ | ====================================== |
- 30 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
24. Analysis of net assets between funds
| Group 2022 | Tangible fixed | Net current | ||
|---|---|---|---|---|
| assets | Investments | assets | Total | |
| £ | £ | £ | £ | |
| Restricted Income Funds | - | - | 5,651 | 5,651 |
| ------------------------------ | ------------------------------------- | --------------------------- | ------------------------------------- | |
| Unrestricted Income Funds | 592,926 | 2,711,308 | 1,007,293 | 4,261,527 |
| ------------------------------ | ------------------------------------- | --------------------------- | ------------------------------------- | |
| Total Funds | 592,926 | 2,711,308 | 1,012,944 | 4,267,178 |
| ============================= | =================================== | ============================= | =================================== | |
| Company 2022 | Tangible fixed | Net current | ||
| assets | Investments | assets | Total | |
| £ | £ | £ | £ | |
| Restricted Income Funds | -- | - | 5,651 | 5,651 |
| ------------------------------ | ------------------------------------- | --------------------------- | ------------------------------------- | |
| Unrestricted Income Funds | 554,565 | 2,011,408 | 1,047,498 | 4,075,070 |
| ------------------------------ | ------------------------------------- | --------------------------- | ------------------------------------- | |
| Total Funds | 554,565 | 2,011,408 | 1,053,149 | 4,080,721 |
| ============================= | =================================== | ============================ | =================================== | |
| Group 2021 | Tangible fixed | Net current | ||
| assets | Investments | assets | Total | |
| £ | £ | £ | £ | |
| Restricted Income Funds | - | - | 4,864 | 4,864 |
| ------------------------------ | ------------------------------------- | --------------------------- | ------------------------------------- | |
| Unrestricted Income Funds | 621,703 | 2,621,441 | 990,133 | 4,183,277 |
| ------------------------------ | ------------------------------------- | --------------------------- | ------------------------------------- | |
| Total Funds | 621,703 | 2,621,441 | 994,997 | 4,188,141 |
| ============================= | =================================== | ============================= | =================================== | |
| Company 2021 | Tangible fixed | Net current | ||
| assets | Investments | assets | Total | |
| £ | £ | £ | £ | |
| Restricted Income Funds | - | - | 4,864 | 4,864 |
| ------------------------------ | ------------------------------------- | --------------------------- | ------------------------------------- | |
| Unrestricted Income Funds | 582,468 | 2,383,140 | 1,030,673 | 3,996,281 |
| ------------------------------ | ------------------------------------- | --------------------------- | ------------------------------------- | |
| Total Funds | 582,468 | 2,383,140 | 1,035,537 | 4,001,145 |
| ============================= | =================================== | ============================ | =================================== |
25. Related party transactions
The company is under control of the Board of Trustees as set out on page 1 of the Trustees Report.
The company prepared group accounts which are publicly available and accordingly the company is exempt from the disclosure requirements of Financial Reporting Standard for Smaller Entities relating to transactions with its subsidiary company, Hunslet Leisure Limited and Hunslet Club Community Homes CIC.
There have been no other related party transactions to disclose during the year.
- 31 -
The Hunslet Club Company Limited by Guarantee Trustees' report and consolidated financial statements 31 August 2022
Notes to the financial statements
for the year ended 31 August 2022
26. Financial instruments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Financial assets measured at amortised cost | 1,043,977 | 1,019,327 |
| ============================= | ============================= | |
| Financial liabilities measured at amortised cost | 53,464 | 40,343 |
| ============================= | ============================= | |
| Financial assets measured at fair value | 2,711,308 | 2,621,441 |
| ============================= | ============================= |
27. Company limited by guarantee
The company is limited by subscribers' guarantees and does not have a share capital. In the event of a winding up the liability of each of the subscribers is limited to £1.
28. Charitable Status
The charitable company was registered as a charity under the Charities Act 2011. No taxation arises on the charitable company’s activities and any income tax suffered on investment income is recoverable. The trading subsidiary is fully subject to taxation subject to the transfer of any surplus under the gift aid provisions.
- 32 -