REGISTERED COMPANY NUMBER: 06611130 (England and Wales) REGISTERED CHARITY NUMBER: 1125708
Report of the Trustees and
Financial Statements for the Year Ended 31 March 2022
for
Tiffinian Association Limited
Azets Audit Services Limited Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ
Tiffinian Association Limited
Contents of the Financial Statements for the Year Ended 31 March 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Report of the Independent Auditors | 6 to 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 to 18 |
| Detailed Statement of Financial Activities | 19 to 20 |
Report of the Trustees for the Year Ended 31 March 2022
Tiffinian Association Limited
The trustees, who are also directors of the Tiffinian Association Limited (‘the Charity’, ‘the Charitable Company’, ‘the association’ or ‘TAL’) for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their own accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The objectives of the association as agreed by the trustees are produced below:
SHARING THE BENEFITS OF TIFFIN
TAL - THE VISION
To create a vibrant and active association that provides maximum benefit to the Tiffin School ("the School"), Tiffinians and the wider Tiffin community.
TAL - THE OBJECTIVES
- To develop an active community for Alumni, Pupils, Staff (past and present), Parents (past and present), and friends of the School which will enable them to keep in contact for their individual benefit, both social and business, and to assist in the ongoing development of the School.
2. To support the School:
a) Financially in terms of grants, including awards to pupils who, by reason of financial hardship, would not otherwise be able to fully partake in the educational or other activities offered within or outside the curriculum offered by the School.
b) With a network of professional help to support the School and each other as and when required to further enhance the School's reputation and to assist in the development of its current pupils.
-
To maintain and continue to develop the best possible sports and recreational facilities at Grists, allowing pupils, former pupils, and the local community to engage in competitive sport and recreation.
-
To develop as wide and diverse a network as possible to enable:
a) the raising of funds for further development of the School.
b) the support of deserving charitable cases.
c) the ongoing development of TAL's sporting and recreational facilities to meet its charitable objectives.
d) Tiffinians to develop their own networks.
Volunteers
TAL has to date relied on volunteers and, due to this, staff costs are lower than they would otherwise be.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity made donations to Tiffin School during the year amounting to £32,967 (2021 - £12,065). These donations were made to assist the School in developing the community for alumni, pupils, staff and friends of the School and also to help maintain the sports facilities made available to the whole community. Since the year end, TAL has donated £60,320 to the single pavilion project.
1
Tiffinian Association Limited
Report of the Trustees for the Year Ended 31 March 2022
ACHIEVEMENT AND PERFORMANCE
Internal and external factors
The trustees have considered the effect of the economic climate on the figures shown within these financial statements. The trustees consider that its reserves and income-generating assets will allow the charity to continue its day to day activities for the foreseeable future. .
We are always looking to increase our outside lettings potential although this always has to be balanced against any costs associated with these and also putting additional pressure on already stretched volunteer help.
However any major building undertaking will require significant fundraising and access to grants.
The trustees consider the nature of the investments annually and hold the majority of these in cash to avoid the risk of falling values. The trustees and the executive group meet regularly to address operational matters and discuss the financial information presented to them.
FINANCIAL REVIEW
Principal funding sources
TAL receives funding through members’ donations. TAL owns 25 acres of playing fields at East Molesey in Surrey. This includes two pavilions and associated equipment for sporting activities to be carried out by the School, Old Boys’ sides and members of the local community. Sports include, but are not limited to, football, rugby, cricket and athletics. The facilities are available for hire to the local community and the Old Boys' sports sections are open clubs and as such all the facilities generate income.
The houses at 27 and 29 Summer Avenue also continue to be let at market rate.
Reserves policy
The trustees consider that unrestricted funds not invested in fixed assets or designated for specific purposes ("the free reserves") should be normally between £75,000 and £125,000.
However with the future possibility of large capital investment these are being allowed to run at a higher level. This not only would assist with any major project undertaken but also assist us with trying to obtain any match funding grants / initiatives that there may be.
At the normal level, the trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding or any unexpected expenses. It would obviously be necessary to consider how the funding would be replaced or activities changed.
FUTURE PLANS
The charity has considered the future of the Dean pavilion because of its age, accessibility for disabled people and the development of women's sport following the School’s admission of girls into the sixth form. The School's pavilion faces similar challenges.
The board has concluded that the solution for both it and the School is a single pavilion project. Because the School has a record of receiving grant funding and to allow the ground's management on a professional basis rather than using volunteers, it has resolved to agree merger terms with a charitable incorporated organisation which owns the School’s land in Kingston upon Thames and appoints the School's governors.
The board expects that the merger will be concluded in the year ending 31 March 2023.
As part of the single pavilion project, the board has approved that it will contribute £112,000 towards the architect's and related planning costs which the project requires before it can apply for external and Government finance through to completion.
2
Tiffinian Association Limited Report of the Trustees for the Year Ended 31 March 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, its memorandum and articles of association and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006.
TAL was incorporated as a company limited by guarantee on 4 June 2008. It was registered as a charity on 3 September 2008.
Recruitment and appointment of new trustees
The trustees, who are also directors for the purpose of company law and for the purpose of charity law, who served during the year and up to the date of this report are set out below. There is a procedure for the recruitment and appointment of new trustees, namely that nominations are received by the current trustees, who then discuss and vote upon any nominations received.
The trustees recognise the need to strengthen the board and are actively looking for new members with the relevant experience and skills to join the board.
Organisational structure
The charity is run the Board of trustees ("the board”) who normally meet quarterly and are responsible for the strategic direction and policy of the charity. Two of the trustees are involved in the day to day running of the charity, and they have delegated authority from the Board in the making of on-going decisions.
Induction and training of new trustees
All new trustees are given, in the view of the Board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charity's views of its progression.
Wider network
At present, the charity does not consider itself part of a wider network.
Related parties
We provide details of transactions with related parties in note 13 of these financial statements.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06611130 (England and Wales)
Registered Charity number
1125708
Registered office
Tiffin School Queen Elizabeth Road Kingston upon Thames Surrey KT2 6RL
3
Tiffinian Association Limited
Report of the Trustees for the Year Ended 31 March 2022
Trustees
M W Darby S A Lester P J Osborne (resigned 27 October 2022) P P Phillips T M Brown J R Strong O S E Mackie G J Nutt S A Dowsett
Company Secretary
J R Strong
Auditors
Azets Audit Services Limited Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ
PUBLIC BENEFIT
The trustees have had regard to the Charity Commission statement on public benefit.
The sports pitches owned by the Charity at East Molesey are leased by Tiffin School and are used for a range of sporting activities during the week and at weekends. The pavilion is used during the week by a local play group and the sports pitches are also used by a number of outside local clubs not associated with the School and its former pupils. The clubs using the name Old Tiffinians are open to all who wish to join and a high proportion of the members of many of these clubs are not current or former members of the School. The aim of the Charity is to maximise the income it can generate from these facilities whilst not overusing them.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Tiffinian Association Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
4
AUDITORS Meetitig. T¥ Approved by order of the bo4DI of tn4ttts on....................... ........... . and SI*d on its bdwlf by. M W Darby. Trustee
Report of the Independent Auditors to the Trustees of Tiffinian Association Limited
Opinion
We have audited the financial statements of Tiffinian Association Limited (the 'charitable company') for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practice).
-
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company'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. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors 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.
In connection with our audit of the financial statements, 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.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
the charitable company has not kept adequate accounting records; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
6
Report of the Independent Auditors to the Trustees of Tiffinian Association Limited
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company 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 trustees 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 trustees are responsible for assessing the charitable company'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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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 a Report of the Independent Auditors 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risks of acts by the entity that were contrary to applicable laws and regulations, including fraud.
We evaluated the incentives and opportunities for fraud in the financial statements, including, but not limited to, the risk of override of controls, and designed procedures in response to these risks as follows:
-
inquiring of management concerning actual and potential litigation and claims;
-
performing analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud;
-
testing the appropriateness of journal entries and other adjustments;
-
assessing whether the judgments made in making accounting estimates are indicative of potential bias; and
-
evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedures described above, and the risk of not detecting a material misstatement due to fraud is higher than one resulting from error as fraudulent misstatements may involve deliberate concealment.
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 Report of the Independent Auditors.
7
Report of the Independent Auditors to the Trustees of Tiffinian Association Limited
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Alex Temlett CA ACA CTA (Senior Statutory Auditor) for and on behalf of Azets Audit Services Limited Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
Date: .............................................
8
Tiffinian Association Limited
Statement of Financial Activities for the Year Ended 31 March 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Other trading activities 3 Investment income 4 Other income Total EXPENDITURE ON Charitable activities Donations Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 Total funds £ 30,117 132,720 2,485 7,327 172,649 32,967 108,771 141,738 1,538 32,449 553,452 585,901 |
2021 Total funds £ 65,275 62,826 2,587 4,181 134,869 12,065 75,073 87,138 10,010 57,741 495,711 553,452 |
|---|---|---|
The notes form part of these financial statements
9
arch 2 2021 Totsl fijnds Tofal FIXED A&gETS Tangible &8sets Investments 220.628 164.219 281.736 223.789 D¢btors Cash at bank 43,421 378 345 10.222 387 024 421,766 397,246 CREDoRs Amounts falling withiD 0110 ye 10 {26.879) {21.588) NET CURRE ASSETS 375 658 676.623 599.447 ACCRUAIS AND DEFERRED INCOME li 1sJl,722) {45,995) NET ASSETS 553 452 FUNDS Unrestri¢ted fiu 12 553 452 TOTAL FUNDS 553 452 ompani¢s glln¢. on its behalf by.. M W D4tby. TTU8t¢¢ 10
Tiffinian Association Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company which is a public benefit entity under FRS 102. The financial statements have been prepared 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006* and UK Generally Accepted Accounting Practice. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets such as investments which are included at market value.
The charitable company, incorporated in England and Wales, is limited by guarantee and the registered office is Tiffin School. Queen Elizabeth Road, Kingston upon Thames, Surrey KT2 6RL.
The liability of each member is limited to £10 on a winding up of the charitable company.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Grants
The charitable company includes grants in the Statement of Financial Activities on a receivables basis. Grants including government grants are recognised under the performance model. A grant that does not impose specified future performancerelated conditions is recognised in income when the grant proceeds are received or receivable. A grant that imposes specified future performance-related conditions on the recipient is recognised in income only when the performance-related conditions are met.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - at varying rates on cost Plant and machinery - 20% on cost and 10% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
continued...
11
Tiffinian Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Investments
Investments are stated at market value.
Debtors
Short term debtors are measured at transaction value less any impairment. At each balance sheet date, debtors are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is measured as the difference between the carrying amount and the amount expected to be received.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term investments with original maturities of 3 months or less.
Creditors
Short term trade creditors are measured at transaction value. Other financial liabilities are measured initially at fair value, net of transaction costs, and subsequently at amortised cost using the effective interest method.
Critical accounting judgements and key sources of estimation uncertainty
No significant judgements have been made by the Trustees in preparing these financial statements.
Going Concern
The financial statements have been prepared on a going concern basis. The Trustees have considered a period of one year from the date of approval of the financial statements and have paid particular attention to the likely effects of the Covid-19 outbreak and current global economic uncertainty consider that the Charity has adequate resources to able to continue as a going concern for the foreseeable future.
continued...
12
Tiffinian Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
2. DONATIONS AND LEGACIES
3.
4.
| Grants Members regular donations Donations received from subsidiary company OTHER TRADING ACTIVITIES Hire of pitches Nursery rent House and yard rent Other income INVESTMENT INCOME Investment income |
|
|---|---|
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration Depreciation - owned assets |
2022 £ 4,470 13,704 |
2021 £ 1,984 8,394 |
|---|---|---|
During the year the charitable company received revenue grants of £20,600 (2021:£10,400) which were to be applied for pitch improvements. The charitable company spent all of these grants on the relevant expenditure by the accounting reference date so it is not carrying forward to next year any restricted funds. These amounts have been recognised as revenue grants in line with the company's accounting policy.
In addition, the charitable company received government grants of £52,055 (2021 - £37,214) to acquire a tractor and mower as part of a programme to improve playing surfaces as a substantial amount of sport is played. The charitable company met the terms to apply for these grants and to the extent necessary, has complied with the applicable terms and conditions.
The terms of the equipment grants require that they are repaid in line with the equipment's residual value and upon any sale of the equipment and so the company has deferred recognition to match the relevant equipment's depreciation rate.
continued...
13
Tiffinian Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
7. TANGIBLE FIXED ASSETS
| COST At 1 April 2021 Additions At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
Freehold Plant and property machinery £ £ 129,142 78,138 - 70,113 129,142 148,251 22,008 21,053 1,834 11,870 23,842 32,923 105,300 115,328 107,134 57,085 |
Totals £ 207,280 70,113 277,393 43,061 13,704 56,765 220,628 164,219 |
|---|---|---|
The initial cost of the land and buildings was recognised at the net book value at the date of transfer to Tiffinian Association Limited. The rate of depreciation is based on the historic cost of these assets.
continued...
14
Tiffinian Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
8. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Shares in group Listed undertakings investments £ £ MARKET VALUE At 1 April 2021 1 59,569 Revaluations - 1,538 At 31 March 2022 1 61,107 |
Totals £ 59,570 1,538 |
| 61,108 |
There were no investment assets outside the UK.
The charitable company's investments at the balance sheet date in the share capital of group undertakings include the following:
Dean Pavilion Limited
Registered office: 20 Market Place, Kingston upon Thames, Surrey KT1 1JP Nature of business: Social club
| Dean Pavilion Limited Registered office: 20 Market Place, Kingston upon Thames, Surrey KT1 1JP Nature of business: Social club |
|||
|---|---|---|---|
| % Class of share: holding Ordinary 100 Aggregate capital and reserves Profit for the year Turnover Costs Profit for the year |
2022 £ 1 nil 28,068 28,068 - |
2021 £ 1 nil 4,509 4,509 - |
|
15
continued...
Tiffinian Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
| 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Amounts owed by group undertakings Other debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 11. ACCRUALS AND DEFERRED INCOME Deferred capital grants |
2022 £ 6,544 36,877 43,421 2022 £ 26,879 2022 £ 90,722 |
2021 £ 7,846 2,376 10,222 2021 £ 21,588 2021 £ 45,995 |
|---|---|---|
During the year ended 31 March 2022, the company received a grant towards the cost of a tractor and mower from the Football Foundation. The terms of that grant may require that the company returns the sale proceeds should it dispose of the assets. The trustees consider that the useful life of the assets acquired will be 10 years and will recognise the benefit of the grant across the same period.
12. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1.4.21 in funds £ £ 553,452 32,449 553,452 32,449 |
At 31.3.22 £ 585,901 585,901 |
|---|---|---|
16
continued...
Tiffinian Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 172,649 | (141,738) | 1,538 | 32,449 |
| TOTAL FUNDS | 172,649 | (141,738) | 1,538 | 32,449 |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.4.20 | in funds | 31.3.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 495,711 | 57,741 | 553,452 | |
| TOTAL FUNDS | 495,711 | 57,741 | 553,452 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 134,869 | (87,138) | 10,010 | 57,741 |
| TOTAL FUNDS | 134,869 | (87,138) | 10,010 | 57,741 |
continued...
17
Tiffinian Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
12. MOVEMENT IN FUNDS - continued
Restricted funds
During the year, the charity received £20,600 (2021:£10,400) of restricted income towards the pitch improvements. Both of these grants were expended on the relevant expenditure by the accounting reference date and therefore no restricted funds are carried forward.
13. RELATED PARTY DISCLOSURES AND CAPITAL COMMITMENTS
A company owned by Anthony Dowsett (father of Samuel Dowsett a trustee) was paid £22,722 (2021: £19,551) in respect of facilities management. He employed Jonathan Darby (son of Mark Darby, a trustee) through his service company and included within the figure shown is £850 (2021: £500) for Jonathan in respect of bar and related services.
The trustees have committed £112,000 (2021: £nil) to the new Single Pavilion Project which Tiffin School is managing. The alumni of the School and current pupils, both boys and girls will use this and it will replace the current changing facilities and social areas. The funding is to get to the planning stage at which point the School and alumni will start a fund-raising exercise once the architects have presented them with the estimate of costs.
14. ULTIMATE CONTROLLING PARTY
The trustees do not consider there is a controlling party.
18