DEVAS CLUB
REPORT AND ACCOUNTS
31 MARCH 2022
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Registered company
06720799
Registered charity
1129419
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DEVAS CLUB
LEGAL AND ADMINISTRATIVE INFORMATION
Status
The club is a charitable company limited by guarantee, incorporated on 10 October 2008 and registered as a charity on 6 May 2009. It succeeded to the assets and activities of The Devas Club, a registered charity founded in 1884 and reconstituted under a charitable deed in 1974.
The company was established under a memorandum of association which specifies the objects and powers of the charitable company and is governed under its articles of association.
Registered numbers Company 06720799 Charity 1129419 Trustees and directors Mark Potter (Chair) Josie Benson The Rt Hon the Baroness Valerie Ann Amos Johnny Devas Charles Dorin Paul Flather Katherine Ludlow Andrew Griffith Bradley Abbott (appointed 18 January 2022) Clare Elizabeth Cole Rt. Hon. Sir Christopher David Floyd Registered office Devas Club Stormont Road Battersea London SW11 5EN Independent examiner S M Holborn WSM Advisors Limited Chartered Accountants Connect House 133-137 Alexandra Road London SW19 7JY
Bankers
National Westminster Bank plc 300 Silbury Boulevarde Milton Keynes MK9 2ZF COIF Charities Deposit Fund 80 Cheapside London EC2V 6DZ
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DEVAS CLUB
REPORT OF THE TRUSTEES
31 MARCH 2022
The trustees present their report and accounts for the year ended 31 March 2022.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the charity's 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) as amended for accounting periods commencing from 1 January 2019.
Objectives and activities
The objective of the Devas Club is to enable young people, including the disaffected and at risk, to reach their full potential as responsible, talented individuals and as active participants within their local community.
Our aim is to enable member’s talents to develop through doing and making. The building currently includes ‘social’ spaces, two dance studios, a professionally equipped music/recording studio, a large hall, an equipped gym, an art room, cooking and computer facilities, and an enclosed roof top football pitch.
The club currently offers the following youth activities that are divided into Juniors sessions (8-11 year olds) and Seniors sessions (12+ year olds): :
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General club: table tennis, pool, bar football, games, computers with internet access, library;
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Regular activities: Fitness studio, boxing, ‘Street’ cricket, football training, music production, dance, sewing and fashion, cooking workshop;
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Special activities dependent on funding availability: drama course, t-shirt printing, and off-site visits and activities. We also have an active relationship with University College, Oxford, with an annual boys and girls visit with a football match and a tour of the college and social event. There are regular Showcase performances by the young people at the club.
Achievements and performance
An account of the year's activities can be found in the annual report and the Club's website www.devasclub.org .
Financial review, reserves and risk policy
The trustees aim to hold reserves sufficient to enable it to settle its affairs at any time in a controlled way. At the balance sheet date unrestricted reserves amounted to £39,456.
The trustees confirm that a review of risks affecting the charity has been carried out, including the financial position of the charity. With a regular income from the building (£106,461 in 2022), the basic running costs of the building are covered, with additional youth work and associated running and administration costs being separately fundraised for. In the current challenging economic environment these costs are managed on a monthly basis, with the level of youth work costs committed to being closely matched to funding available.
This system of prudent management is sufficient safeguard for the Charity.
Structure, governance and management
The club is a charitable company limited by guarantee, incorporated on 10 October 2008 and registered as a charity on 6 May 2009. It succeeded to the assets and activities of The Devas Club, a registered charity founded in 1884 and reconstituted under a charitable deed in 1974.
This report covers the year ended 31 March 2022.
Reference and administrative information set out on page 1 forms part of this report.
The trustees, who are also the directors of the charitable company, who served during the year were as follows:Mark Potter (Chair) Paul Flather Bradley Abbott (appointed 18 Josie Benson Katherine Ludlow January 2022) The Rt Hon the Baroness Valerie Ann Amos Andrew Griffith Johnny Devas Clare Elizabeth Cole Charles Dorin Rt. Hon. Sir Christopher David Floyd
The articles of association authorise up to twelve trustee directors. One is ex officio Master of University College, Oxford. The remaining trustees are co-opted by the existing trustees by resolution at trustees' meetings. New trustees are inducted informally by the existing trustees.
The club is staffed and run by youth workers and volunteers, some of whom are engaged by Wandsworth Youth Service under a 25 year agreement signed in 2012. Decisions are made by the board of trustees in consultation with the staff and together these represent the key management personnel.
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DEVAS CLUB
REPORT OF THE TRUSTEES
31 MARCH 2022
Plans for the future
Devas Club has expanded the range of activities in 2022 following the lifting of Covid restrictions, with a full juniors programme, and a seniors programme co-run with Wandsworth four nights per week. Our aim for the future is to expand the range of youth work activities provided (as set out on page 2), but within a longer term funding framework with Wandsworth and our other funding partners. In the meantime we are very appreciative of all who have funded the Club in the year, big or small, and the Club remains a vital community resource.
Statement of trustees' responsibilities
Company law and law applicable to charities in England and Wales require the trustees to prepare financial statements for each financial year which give a true and fair view of the company's financial activities during the year and of its financial position at the end of the year.
In preparing financial statements giving a true and fair view, 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 estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any 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 charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the company and which enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011, the Statement of Recommended Practice for accounting by charities and the governing document. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website.
Registered office
Stormont Road
Battersea London SW11 5EN
Mark Potter (Chair) Trustee 24 February 2023
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ACCOUNTANT'S REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF
DEVAS CLUB
I report on the accounts for the year ended 31 March 2022 set out on pages 5 to 11.
Responsibilities of trustees and examining accountants
As trustees you are responsible for the preparation of the accounts and you consider that these accounts are exempt from an audit under S144(2) of the Charities Act 2011 and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under S145 of the Charities Act 2011;
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to follow the procedures laid down by the Charity Commissioners under S145(5)(b) of the Charities Act 2011; and
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to state whether particular matters have come to our attention.
Basis of independent examiner's report
My examination was carried out in accordance with the directions of the Charity Commissioners. An examination includes a review of the accounts and a comparison with the accounting records kept by the charity. It also includes consideration of any unusual items or disclosures in the accounts and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts.
WSM Advisors Limited provides book-keeping services for the charity and the FRC's Revised Ethical Standards have been applied.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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1 which gives us reasonable cause to believe that, in any material respect, the requirements: - to keep accounting records in accordance with S130 of the Charities Act 2011; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the have not been met; or
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2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be
Connect House 133-137 Alexandra Road Wimbledon London SW19 7JY
WSM ADVISORS LTD Chartered Accountants 24 February 2023
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DEVAS CLUB
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
YEAR ENDED 31 MARCH 2022
| Unrestricted | Restricted | 2022 | 2021 | ||
|---|---|---|---|---|---|
| fund | funds | Tota | Total | ||
| Notes | £ | £ | £ | £ | |
| Income | |||||
| Charitable donations and grants | 25,151 | - | 25,151 | 108,705 | |
| Income from charitable activities | |||||
| Restricted grants | 10 | - | 114,373 | 114,373 | 45,936 |
| Building income | 106,461 | - | 106,461 | 83,126 | |
| Activities for generating funds | |||||
| Other receipts and fundraising | 768 | - | 768 | 10,704 | |
| Interest receivable | 3 | - | 3 | 8 | |
| ----------- | ----------- | ----------- | ----------- | ||
| Total income | 132,383 | 114,373 | 246,756 | 248,479 | |
| ----------- | ----------- | ----------- | ----------- | ||
| Expenditure | |||||
| Charitable activities | |||||
| Maintenance expenses | 2 | 118,898 | 118,898 | 120,076 | |
| Charitable expenses | 3 | 106,814 | 106,814 | 52,335 | |
| Depreciation | 7 | 24,390 | - | 24,390 | 25,960 |
| Capital grant transfers | 7 | (4,196) | 4,196 | - | - |
| Support costs | 4 | 22,349 | - | 22,349 | 24,014 |
| Costs of generating donations and grants | |||||
| Support costs | 4 | 4,789 | - | 4,789 | 5,145 |
| Costs of other activities | |||||
| Support costs | 4 | 4,789 | - | 4,789 | 5,145 |
| --------- | ----------- | ----------- | ----------- | ||
| Total expenditure | 52,121 | 229,908 | 282,029 | 232,675 | |
| --------- | ----------- | ----------- | ----------- | ||
| Net income / (expenditure) for the year | 80,262 | (115,535) | (35,273) | 15,804 | |
| --------- | --------- | --------- | --------- | ||
| Transfers between funds | 11 | (141,339) | 141,339 | - | - |
| --------- | --------- | --------- | --------- | ||
| Net movement of funds for the year | (61,077) | 25,804 | (35,273) | 15,804 | |
| Total funds brought forward | 70,532 | 174,826 | 245,358 | 229,554 | |
| --------- | ----------- | ----------- | ----------- | ||
| Total funds carried forward | £ 9,455 | £ 200,630 | £ 210,085 | £ 245,358 | |
| --------- | ----------- | ----------- | ----------- |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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DEVAS CLUB
BALANCE SHEET - 31 MARCH 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible fixed assets | 7 | 126,525 | 146,345 | ||
| Current assets | |||||
| Canteen stock | 100 | 100 | |||
| Bank and cash balances | 91,369 | 114,818 | |||
| --------- | --------- | ||||
| 91,469 | 114,918 | ||||
| Current liabilities | |||||
| Creditors and accruals | 9 | 7,909 | 15,905 | ||
| --------- | ------- | ||||
| Net current assets | 83,560 | 99,013 | |||
| ---------- | ---------- | ||||
| Total assets less current liabilities | £ 210,085 | £ 245,358 | |||
| ---------- | ---------- | ||||
| Represented by: | |||||
| Funds | 11 | ||||
| Restricted: | |||||
| Capital fund | 200,630 | 174,826 | |||
| Unrestricted - general: | |||||
| General fund | 9,455 | 70,532 | |||
| ---------- | ---------- | ||||
| £ 210,085 | £ 245,358 | ||||
| ---------- | ---------- |
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a) These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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b) For the year in question the company was entitled to exemption from an audit under S477(2) of the Companies Act 2006 relating to the small companies regime.
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c) The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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d) The directors acknowledge their responsibilities for: i) ensuring that the company keeps accounting records which comply with S386; and ii) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its result for the financial year in accordance with the requirements of S394 and 395 of the Companies Act 2006 and which otherwise comply with the requirements of that Act relating to accounts, so far as applicable to the
Mark Potter - Trustee
24 February 2023 Approved by the directors and signed on their behalf
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DEVAS CLUB
NOTES TO THE ACCOUNTS - 31 MARCH 2022
1 Principal accounting policies
The accounting policies have been applied consistently throughout the year and the preceding year and are set out below.
Charity information
Devas Club is a private company limited by guarantee in England and Wales. The registered office is 2A Stormont Road, London, SW11 5EN.
Accounting convention
The accounts have been prepared in accordance with the club's Memorandum and Articles of Association, the Charities Act 2011, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice available to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (as amended for accounting periods commencing from 1 January 2019). Devas Club is a Public Benefit Entity as defined by FRS 102.
Devas Club has taken the advantage of the provisions in the SORP for Charities applying FRS 102 Updated Bulletin1 not to prepare a Statement of Cash Flows.
The accounts are prepared in sterling, which is the functional currency of Devas Club. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
Going concern
At the time of approving the accounts, the Directors, who are also the Trustees have a reasonable expectation that Devas Club has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the accounts.
Fund accounting
These have been divided into restricted funds, where income arises with restrictions as to its uses and the unrestricted general fund which is available for the general purposes of the club. Transfers are made from the general fund to offset deficiencies in the maintenance and activities funds.
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of donations and gift aid tax. Donations are recognised when received and gift aid tax is accrued on applicable donations in the same year.
Other receipts and fundraising are recognised in the year in which they are received.
Interest and dividends are included when receivable by the club.
Incoming resources from charitable activities are recognised when receivable. Grants are recognised in the year for which the support is intended.
Capital grants and donations included in restricted funds are being released to the income and expenditure account at the same rates as associated assets are being depreciated (see note 7).
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DEVAS CLUB
NOTES TO THE ACCOUNTS - 31 MARCH 2022
Resources expended
Expenditure is recognised on an accruals basis as liabilities are incurred. Expenditure includes unrecoverable VAT, which is reported as part of the cost to which it relates. Costs relating to a particular activity are allocated directly, whereas support costs are apportioned in relation to usage as specified in note 4.
Costs of generating voluntary income and other funds comprise costs associated with donations and fundraising events.
Charitable expenditure comprises the costs of maintaining the building and all the club activities which take place within it.
Governance costs include the cost of meeting the charity's statutory requirements and strategic management.
Tangible fixed assets
Fixed assets are capitalised at cost.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows:
Building over 50 years Long-term repairs over 10 years Fixtures and equipment 10% & 20% on net book value Vehicles 25% on net book value
Impairment of fixed assets
At each reporting end date, the club reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing them to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Investments
Investments are shown at market value.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
Financial instruments
The club has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the club's balance sheet when the club becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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DEVAS CLUB
NOTES TO THE ACCOUNTS - 31 MARCH 2022
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Critical Accounting Estimates and judgements
In the application of the club’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods
| 2 | Maintenance expenses | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Gas and electricity | 20,403 | 20,609 | |
| Rates and water | 1,300 | 845 | |
| Cleaning wages and expenses | 14,820 | 9,434 | |
| Administration costs | 57,166 | 59,230 | |
| Insurance - building and contents | 8,022 | 13,514 | |
| Other property costs | 17,187 | 16,444 | |
| ---------- | ---------- | ||
| £ 118,898 | £ 120,076 | ||
| ---------- | ---------- | ||
| 3 | Charitable expenses | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Youth work expenses | 46,746 | 35,957 | |
| Devas Studio expenses | 15,969 | 14,785 | |
| Junior Club expenses | 44,099 | 1,593 | |
| --------- | --------- | ||
| £ 106,814 | £ 52,335 | ||
| --------- | --------- |
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DEVAS CLUB
NOTES TO THE ACCOUNTS - 31 MARCH 2022
| 4 | Support costs | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Telephone | 2,088 | 1,602 | ||
| Design and printing | 544 | 535 | ||
| Postage and stationery | 907 | 1,235 | ||
| Computer and IT | 4,975 | 3,880 | ||
| Equipment expenses | 3,323 | 2,153 | ||
| Travel expenses | 607 | 129 | ||
| Marketing and promotion | 225 | 275 | ||
| General expenses | 6,559 | 6,696 | ||
| Bank interest and charges | 370 | 356 | ||
| Accountancy and independent examination costs | 9,372 | 9,025 | ||
| Legal and professional | 2,957 | 8,418 | ||
| --------- | --------- | |||
| £ 31,927 | £ 34,304 | |||
| --------- | --------- | |||
| Support costs have been allocated as follows: | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Costs of generating voluntary income | 15% | 4,789 | 5,145 | |
| Activities to generate funds | 15% | 4,789 | 5,145 | |
| Charitable activities | 70% | 22,349 | 24,014 | |
| --------- | --------- | |||
| £ 31,927 | £ 34,304 | |||
| --------- | --------- | |||
| 5 | Staff costs | |||
| 2022 | 2021 | |||
| £ | £ | |||
| Salaries and wages | 84,771 | 56,521 | ||
| Social security and pension costs | 5,822 | 609 | ||
| --------- | --------- | |||
| £ 90,593 | £ 57,130 | |||
| --------- | --------- | |||
| This represents the cost of staff managing the building and youth activities. | ||||
| Number of employees | ||||
| The average monthly number of employees during the | year was: | |||
| 2022 | 2021 | |||
| Number | Number | |||
| Management | 3 | 2 | ||
| --------- | --------- |
There are no employees who received employee emoluments of more than £60,000 in the current and previous year.
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6 Trustee remuneration and expenses None of the trustees received any remuneration or expenses.
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DEVAS CLUB
NOTES TO THE ACCOUNTS - 31 MARCH 2022
7 Fixed assets
| 7 | Fixed assets | ||||||
|---|---|---|---|---|---|---|---|
| Freehold | Long-term | Fixtures & | |||||
| Land | Building | Repairs | Equipment | Vehicles | Total | ||
| £ | £ | £ | £ | £ | £ | ||
| Cost | |||||||
| 31 March 2021 | 22,000 | 209,800 | 457,912 | 143,650 | 27,929 | 861,291 | |
| Additions in year | - | - | - | 4,570 | - | 4,570 | |
| --------- | ---------- | ---------- | ---------- | --------- | ---------- | ||
| 31 March 2022 | 22,000 | 209,800 | 457,912 | 148,220 | 27,929 | 865,861 | |
| --------- | ---------- | ---------- | ---------- | --------- | ---------- | ||
| Depreciation | |||||||
| 31 March 2021 | - | 146,974 | 415,075 | 124,968 | 27,929 | 714,946 | |
| Charge for year | - | 4,196 | 16,212 | 3,982 | - | 24,390 | |
| ------- | ---------- | ---------- | --------- | --------- | ---------- | ||
| 31 March 2022 | - | 151,170 | 431,287 | 128,950 | 27,929 | 739,336 | |
| ------- | ---------- | ---------- | --------- | --------- | ---------- | ||
| Net book value | |||||||
| 31 March 2021 | £ 22,000 | £ 62,826 | £ 42,837 | £ 18,682 | £ - | £ 146,345 | |
| --------- | --------- | ---------- | --------- | ------- | ---------- | ||
| 31 March 2022 | £ 22,000 | £ 58,630 | £ 26,625 | £ 19,270 | £ - | £ 126,525 | |
| --------- | --------- | ---------- | --------- | ------- | ---------- | ||
| Capital grant releases | £ - | £ (4,196) | £ - | £ - | £ - | £ (4,196) | |
| ------- | ------- | ------- | ------- | ------- | ------- | ||
| **8 ** | Stocks | ||||||
| 2022 | 2021 | ||||||
| £ | £ | ||||||
| Finish goods and goods for resale | 100 | 100 | |||||
| ------- | ------- | ||||||
| **9 ** | Creditors | ||||||
| 2022 | 2021 | ||||||
| £ | £ | ||||||
| Trade creditors | 5,159 | 15,650 | |||||
| Other creditors and accruals | 2,750 | 255 | |||||
| ------- | --------- | ||||||
| £ 7,909 | £ 15,905 | ||||||
| ------- | --------- |
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DEVAS CLUB
NOTES TO THE ACCOUNTS - 31 MARCH 2022
10 Restricted grants
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Maintenance grants - London Borough of Wandsworth | 25,000 | 7,900 |
| Youth work fund | 31,053 | 24,835 |
| Music studio fund | 320 | 15,392 |
| Junior Fund | 58,000 | 1,600 |
| ---------- | --------- | |
| £ 114,373 | £ 49,727 | |
| ---------- | --------- |
Wandsworth Borough Council gives grants towards maintenance of the building, youth projects and one off capital grants. In addition, some permanent and part-time staff of the club are employees of the borough.
11 Funds
| Funds | |||||
|---|---|---|---|---|---|
| Brought fwd | Received | Transferred | Expended | Carried fwd | |
| 31 March 2021 | in year | in year | in year | 31 March 2022 | |
| £ | £ | £ | £ | £ | |
| Restricted funds | |||||
| a) Capital fund | 174,826 | - | (4,196) | - | 170,630 |
| b) Maintenance fund | - | 25,000 | 93,898 | (118,898) | - |
| c) Youth work fund | - | 31,053 | 15,693 | (46,746) | - |
| d) Music studio fund | - | 320 | 15,649 | (15,969) | - |
| e) Junior fund | - | 58,000 | 16,099 | (44,099) | 30,000 |
| Unrestricted funds | |||||
| f) General fund | 70,532 | 132,383 | (137,143) | (56,317) | 9,455 |
| ---------- | ---------- | --------- | ---------- | ---------- | |
| £ 245,358 | £ 246,756 | £ - | £ (282,029) | £ 210,085 | |
| ---------- | ---------- | --------- | ---------- | ---------- |
a) The capital fund was set up at the time the club's premises were built. If they cease to be used for the same or equivalent purposes, a capital grant of £62,730, included within the fund, will become repayable, or part thereof. Repayment is secured by a charge on the premises.
b) The maintenance fund receives grants from the London borough of Wandsworth towards the running costs of the building. These are transferred to the general fund where maintenance costs are incurred.
c) The Youth work fund receives grants from London borough of Wandsworth and trusts towards activities for young people. Any deficiency is made good from the general fund.
d) The Music studio fund receives grants from the London Borough of Wandsworth towards the running costs of the music studio. Any deficiency is made good from the general fund.
e) The Junior fund receives grants from the Clapham Relief Fund towards the costs of running a club for young people. Any deficiency is made good from the general fund. f) Unrestricted grants included a grant from the Arts Council of £5,000 to be used on any charitable activity, but excluding salaries of those personnel who were furloughed during the year.
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DEVAS CLUB
NOTES TO THE ACCOUNTS - 31 MARCH 2022
12 Analysis of net assets by funds
| Analysis of net assets by funds | ||||
|---|---|---|---|---|
| Fixed | Current | Current | Net | |
| Assets | Assets | Liabilities | Assets | |
| £ | £ | £ | £ | |
| Restricted funds | ||||
| - Capital fund | 170,630 | - | - | 170,630 |
| - Maintenance fund | - | - | - | - |
| - Youth work fund - London Borough of Wandsworth | - | - | - | - |
| - Music studio fund | - | - | - | - |
| - Junior fund | - | 30,000 | - | 30,000 |
| ---------- | --------- | ------- | ---------- | |
| 170,630 | 30,000 | - | 200,630 | |
| Unrestricted funds | ||||
| - General fund | (44,105) | 61,469 | (7,909) | 9,455 |
| ---------- | ---------- | --------- | ---------- | |
| £ 126,525 | £ 91,469 | £ (7,909) | £ 210,085 | |
| ---------- | ---------- | --------- | ---------- |
13 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
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