HADLEY WOOD SPORTS TRUST IPrivate Company ￿mIted by Guarantee) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 COMPANY REG NO. 6011099 CHARITY NO. 1129894 HADLEY WOOD SPORTS TRUST (Private Company Limited by Guarantee) Contents Legal and administratNe inlormatK)rt Rep)rt of the trustees Report of the In￿p￿Tr￿ent eyArnlr￿r Statement of Financial Actniths BaLarKe Sheei Cash Fky4 Ststement Accountin9 w>licies 8-9 Notes forming part of the finarKial statements 10-13 Detailed income & expenditure acci)unt 14 Page 14 doesnot fofmwrtof th statutoryacroun HADLEY WOOD SPORTS TRUST (Private Company Limiled by Guarantee) al and Administrative Inforrnation Tru#ees and direrto Director P R Renkin K Garter ADav Adrninistration olfKe'. Raydean House, Westem Parade Greai North Road Barnet. Herts EN5 1AH Registered office.. Pr Accounting s*￿es Raydean House. Western Parade Great North Road Barnet. Herts ENS IAH Charity registration rn.: 1129894 Company registration no.: 1 IL199 IErwJland & wa￿5) Independent exarniner.. Michalis MKhael FCCA FCA Chr￿lOPher MKhael Lirnrted CharteTed Certif￿0 Accountants & ststutory Audrtofs 26 StatK)n Road New Barnei Herts EN5 IQW Banke￿.. TSB 111 Darkes Lane Potters Bar Herts EN618S Page 1 HAD Private ST uarantee f rthey imi ar d 30 Novem 023 The trustee5 ère pleased to Pfosent their annual directors. report for the year endpd 30 November 2023 whKh 15 a15 prepared to meet the requirements for a dirertQTS report and accounts for CompanE5 Aci purposes. Tho fina￿131 statements cornpty wrth the ChamEs Act 20., 1. Ihe (￿panIeS Aci 2006. the Memor4ndum and Articks ol Association, and Atcounting and Reporting by Charities." Statement of Recomrnended PrartKe atplicable to charrtie5 preparing their accounts in accordar*e with the Finanr￿1 ReportirMJ stsndard arplKalJe In the UK and RÈpublK of Ireland IFRSI 021. Structure, Governance and Management adley wood Sports Trust 15 a company limited by guarantee i5 a ￿9tstered chorty. The company wa5 established under Memorandurn of AssociaiDn whKh estsbltshed the objecls and powers of the Chantab￿ £ompany and 15 governed under its Articles of ￿$￿lat￿n. In e¥*nt of the cornpany ￿Ing wwnd up. memtrkrs are required io contnbute an amount not exteeding £1. nt ofTr The trustees and diTettors who have served throughout the yeaT are S￿￿n on page l_ App)intrneni of directorsltru5tee5 IS governed by Memorandum & Art￿￿ of A55(KkltK)n. Nw Trustees undergo training on their ￿gaI obligatws as under Charity Law, the deC￿￿n making proce55, business plan and rècent performance of the chaTrty. The chanty 15 org8n12ed so that the tru5tÈes meet reguL3rty to manage its affair5. P Renkin rnanage5 the day to thy 8dministration ol the charrty and reput to the Trustees at monthty Tr￿ meetings. The trustees aaively review the risks whKh the charity fatès on a regu￿￿ Lkists and tel￿ that maintaining reserve5 at the current levels. combined wrth an annual revwi of the contro& over key financial sy5terns. wll provide sufficient resource5 In the event of adverse conditK)n5. None of the trustees fecewe remuneiation or other benefrt in their tapacrty a5 Iru5tpès of the charity. Any connection be￿eeTr a trustee of the charrty and organisati¢)ns promding seTrice5 to the charrty mus¢ bÈ disclosed to the full board of trustees in sarne way as any contraaual re￿￿nshiP with a re￿ted ￿rty. In the current year no such relèted party transathons were rewted. The director5 consider thai board of director5, who are thè Chanty's trustee5. and senior rnanJgemÈnt team cornprise the key management peisonnel of charty in charge of direding. controlliry. running and operating the charity on a day to day ba%s. No ditert(* rece￿ed rernunefoIM)n in year. Purpose and objeciNe5 The chèr¢V'S objects and its principal conttnued to be that of promotiry communty parDcipation In healthy recreation by woviding lacilitie5 foT playing football anol other sport5. Achievements and FerformarKe The irustee5 cOns￿er that the charity'5 aciivit*s of prornoting partKipation in heahhy recreath)n by providing facilities for playing football and other sport5 has been successful In TnèÈting il's objectNes. Page 2 HADLEY WOOD SPORTS TRUST (Privale Company Lirntted by Guarantee) Directors, & Trustees, Report for the Year Ended 30 November 2023 (Continued) Financial review Total Income for the year amounted to £92.316 v*th total exFenditure amtyjnting to E49.971 leawng a profit in the year of £42,345. Accumulated reserves at the baiincÈ sheet dale amounted to £1.265.295. of whKh £1,265295 represent I￿Orne reserves. Investment ptr￿er5 and polKy The trustees have invested all ol the grants receNed into the devek¥)ment of swing facility. Financial review statement of finantk81 aaivrt￿s for the K*rK)d i8 set out on page 5 of the financial statements. The trustees are (ptimistic that the fdbwing years will gereTate adÈquate net incoming re50urtes. The policy of the truste￿ is to continue to maintain unrestrirted reserve5 at a reasonable levd to fulfill the objects of the charity. The charrty should have minimum reserves of 5LX months worth of expendrture. Tru5tee5 responsibilities in relation lo the financrdl staternents The chèrity trusiees Iwho are a150 directo￿ ol the Company for the purpxes of Lawl are r￿pOr61b￿ ftsr preparing a trustees, annual report and financial statemenis in accordance with aFWicable low 4nd United Kingdom Accounting Stsndard5 (United Kingdom Ger*raI￿ Accepted Accounting PractKel. - se￿￿ surtable accounting KKilicies and apply them conststÈnty. - otherve the methods and princip￿5 In the Charrt*s SORP., rnake judgments and esiimates that are reasonable and prudent.. - state whether appli{a￿e UK accounting standards have been lolkwed. subject to any maierial departure5 discwd and explained in the financial ststements. - prepare linanoal statements on a gc¢ng corKern basts it is inappropriate to presume that the chèrrty will continuè in operath?n. The trustees are resporsible f¢y keeping accountirvJ record5 whKh d￿ck￿e w(th reasonable acturary at any time the financial position of the chanty and enab￿ t￿M to ensufe that the h"noTKo1 statemenis cornpty wfth the Companies Aci 2W6. TIEY are akn responsible for safeguarding the assets of the chanty atHI ￿rKe for taking reasonab￿ steps for the preventitsn and deteaion ol fraud and other ItTegvLarit*s. Directors and trustee5 The trustees who are directors for the purw of company Law who have sef¥ed during the year and up to the date of this report are Set (Mrt on page l. Statement as to dtscthure to our Indeppndent examiner In so far as the trLEtee5 are aware at the time of appr￿ing our tr￿ee5. annual repyt.. - there is no retevant InformatK)n. being inf￿rnatH￿ r*eded by the IrKJependent examiner in connection with P￿Paring their report. of whKh the company'5 in&ppndent ￿ unaware.. and - the trustees. having made enquir*s of felkw directots and the cornpany IndeFÈndeni examin@r that they ought to have individually taken, have each tsken all steps that he15he is obliged to take as a director in order to make t￿MSelVeS aware ol any relevant informatv)n and to e5tsbl￿h that the Independent examiner is aware ol that information. yor of truste P R Renkin - Trustee & Director Date". Page 3 HADLEY WOOD SPORTS TRUST (Private Company Limited by Guarantee) Inde endent Examiner'5 Re ¢rt tc the Trustees of Hadl Wood S orts Trust I report ￿ the ￿oUn￿of the crynwy forthe year ended 30 p*)¥er(kn 2013, thith are set out tri paye5 5 to13 Respectwe re5pon%bilities of trv5tee5 and e¥aminET The t￿￿tee5 (who Jre a150 the direo(Ks of Ihe foi the purpose5 01 £wyaiy It￿13￿e rewnsble for the preparation of the accounts The IrulleescQn￿del th* an aLKJrt Is requiied for IhisYe￿ urNJer sertion 144 01 the Chant*s Art 2011 lihe 2011 Aa) Thai an indepertht exaTThnatH)n ￿ needed. l am qualrfied to undertake the examinat￿ by i*ng a qUthf￿d mentrrof thÈACC Haying 5at151ied my5df that the tharity ￿ not sthiea ￿ an *JAil under crAnpffj iv4and i5elKJiNe fwan Ir¥j￿￿ent eX￿l￿al￿Jn, It Is my iry)on%biltyto examine the accounts undeT settN)n 145 r>f the 2011 * -10 followthe ptocedure5 Livj In the general Dire0￿n5 w by ihe ChatityCcthmi￿I￿ urvjer sea 14515Mbl ol the 2011 ￿". èfKY -to state whether particular rnattV5 cerf*to my attent￿. Basi5 of Independent examiner's rewrt examination wa5 caTiied tyjt In ￿(O[danCey￿h ger￿ra1 gi￿ by the Charity Commission examination includes a r*iewof the ￿t￿Jni1￿j record5 kept by the chanty atvj a Cor(p¥￿n ol the presented wrth those records Yt aso includes co￿￿1er8￿0n of ￿ u4iusual Iteryts u disdoyJre5 n the accounts, seekin9 explanation5 Iiom yw as trustee5 (Dnceming swh ￿￿te[S ￿ prfKedures U￿¢￿aken (k) noi provide 411 the emdence thai be required In an aT¥J cw*othiiky no ry)In￿n LS a5 to vtr*ther the accourit5piesent a"t￿e and fair view" ￿ the reput ￿ limited to ihose maitsrssei the siatement b￿L￿N. Independent examiner's statement In connErtion vrth my examination. no matter ha5 come to myattention". 11) whith gwe5 me reason¥)k cause to bel￿ thai. In •iy material the requwement> lal to keep accouniing Fecord5 %%rth sets￿386 of the Act 2006. (bl to prepare acctyJnts %¥hich accord wlh ac¢tyJnting record5 aDd compty ¥Mth the accountiw iequirements of section 396 01 the (orrw￿5 A¢1 2006 ¥KJ wth the meththjs FxinO￿e5 of the Staiemeni ol Re(ummended Practice" Accounting and Rep(Ktiny by Ch¥ities have Dot been rr￿t. Of rii lo in my opin￿. altenticffi shwky bedrawm en*)le a undmndiNJ ofthe xcryjnts to be Independent Examiner Michali5 Micha for and on behaf of Chr• Mithad Lrd. Chartered Certsfied kcountsnts & Statuwry A￿d11t¥s 26 Statiw Road, New BameL Hert5 ENS 1QW Date. J7lzg Page 4 HADLEY WOOD SPORTS TRUST IPrivate Company Limited by Guarantee) Statement of financial aciwities for the ar ended 30 November 2023 Unrestrictedl De5iynated Restricted Total Total 1r2 20 Income.. Donations and re5trirted grants IrKon3È frtsm Charitabk 6rtAIr￿$.' 314 60,000 60.000 Income from other artJb?t*s Other income 2.316 30,ODD 2.316 30,000 728 Rental Income 30.fflo Total income 92.316 92.316 90.728 Expenditure Expendjture charirable actsvA¢Es" D1￿cl CharV(able expenditu¢È Managernent and administration 46,761 3.210 46.761 3.210 51.328 6,040 rotal expenditure 49.971 49.971 57.368 Net incomellexpenditurel and r￿t rn￿ements ir¢ funds before gains and l¢)sses on investments 18 42.345 42.345 33,360 InteT-lund tran5fer5 Total funds brought forbyard 1.222.950 1.222.950 1,189.590 Total fund5 carr￿d forward 1.265.295 1.265.295 1.222.950 The starement of finan￿al acuvilies irKludes am 8alns and knses ￿ the ￿r. All ￿$OuT(e$ and resources expended derive From contlnuin8 aCtNities. Pag• S HADLEY WOOD SPORTS TRUST (Private Cornpany Limtted by Guarantee) BALANCE SHEET AS AT 30 NOVEMBER 2023 Fyxed A55elS Tangible frxed assets Leasèhold 14 1,012,320 1.012.320 1,005,797 1.005.797 Total lixed awts Current Assets Debtors Cash at bank and in ￿nd 3.493 264,531 1.516 240.630 Total current 055ets 268.024 242.146 Credtio￿.. amounts falling du¢ within one year 16 16.4581 114,4021 Net eurrent a55ets 261.566 227,744 1,273,886 1.233.541 Creditors.. ar￿Unts falling due after one yeat 17 18.5911 18,5911 NET AS5gTS 1,265.295 1.224.950 The funds of the Charity= Unrestrirte&*estricted funds.. 19 1.265.295 1.224.950 TOTAL CHARITY FUNDS 1.265.295 1,224.950 The rotes ot paps 10 to 13 form part of these accounts For the find￿las year in question the company was Èntitkd to exernption under seCt￿n 477 of Companies Act 20C6 relating to 5rnall companies. No members have requirèd the company to ¢)btain an a￿rt of it5 accounts for the year in q￿tiOn in accordance with section 76 of the Companie5 Art 2006. The dirertors acknovledge their resrK>rtsibilrty lor comp￿Ing with the r￿virements of the Act wrth respect to accounting records and for the preparaiion ol accounts. These accounts have been prepared in accrydance wrth the provtsion5 appI￿ab￿ to companies subject to thÈ kmall companies, regime. Approve the ust on DATE". P R Renkin Trustee & Company Dirertor Page 6 HADLEY WOOD SPORTS TRUST Statemeni of cash flows AS AT 30 NOVEMBER 2023 2022Q3 2021122 Total Fund5 Funds Cash flows frorn o￿TatIng actNrbe5-. Net Cash provided by Iused Inl operating artwit Cash IIow3 from investing actNities Dividends, Intefest and rents from investments Purchase of ILYed asset investment5 Pur£h45e of tangible fued assets Net Cash provided by/lu5ed inl investing aCt￿rtiES 41.825 58.119 76 116,0001 76 25.90. 58.195 Change in cash and cash @quNa￿n15 the ￿porting wriod Cash and cash equNalent5 at the ￿gInnIng of the Teporting period Cash and cash equNalents at the end of the re￿rtIng wrxxl 23,901 240.630 60,195 180.435 264.531 240.630 ReconciliatKJn of net movement in funds to net cash from operating acti￿1￿$ Net movement in funds for t￿ reF¥Jting las Fer the SOFA) 42.345 33,360 Adjustments for". Oepreciation charges Dwidends, interest and rènts from investments Iincreaseydecrease in debior5 increaseldecre45el In crèditors 9.477 (761 11.9771 17.9441 18.671 1761 7.680 Net cash provided by (used inl OFeratin9 act￿rtieS 41.825 8.119 Analy51s of cash and cash equ￿alents Cash In hand 264.531 240,630 Total cash and cash equNalents 264.531 240.630 Page 7 HADLEY WOOD SPORTS TRUST (Private Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS for the r ended 30 November 2023 The principal accountir*J •l(ytrd. jud9ft￿ kfrf source5 of eslirnati￿ UnC￿￿ty n the wep3ratKffi ol fnaTKial siaiement5 are as follo￿ Basis of Preparation The charity constrtutes a pthlic i￿neIrt entsry as d¢fIr￿ by FRS 102. The finan0￿ sMen*nis hwe bpen prepared in accordante wfyih Accounting and Reportiry by ChaTities Statement of RecommervJedPraJice app￿(￿* to ch*t* prepafiry Ihwr accounts In accordance ryih the Financial ReportsThJ Standaid •pl￿Ne in the UK and ftepub1K of 1reW In oaobeT 2019. the Financ￿1 Reporting Stèndard applicable In thE Un￿lÈd Kingdom and Repul￿ ol Irdand IFRS 1021. Ihe Charrt*s 2011. the C(xnpanies Act 2006 and UK Generally kcepted AccwDtsng PractKe lry WOLYJ SFths Trust tneet the definition of Chty urwjer FRS 102. a￿1 we ir￿t￿lI￿ recogni5ed at historicl c05t or tran￿lon value unkssotr*Th%i5e in fv ftlv4*1 ￿¢￿ntir￿j P￿￿tr￿les) Reconciliation yllth prewous GA4P PfÈparing the a(counis t￿ tTUStees cwlEred a￿aUntI￿) pC&c￿5 required by FRS 102 ard the Charli￿5 50RP FRS 102. the rein5taterneniof comwair*t irem %w5required. At ihe date ot tr•urt￿n no other re￿•1err￿tsy￿1e requwed. Incoming reseurce5 Income (including inc(Kne from go¥emwt and other yrar*ts> Is recogntsed %then the ch￿ty ha5 entitleTr*nt to the funds. any perfomancecondnionsati•thedto ihe iterrtsol #KOrr*h￿e mel it ￿PfL￿abltIhat the IrKomewll be retswed ardthe amtyjni can be meagJred rdiabty. Interest ard iriv25tment Inwrne recpwable Interest on funds hdd rm Inc￿ from held *then recewaNe the an(tht (on be measured reliable by thè charity. Fund accountin9 Vnre5tricted lundswe avalable to spendchn thal lurtherany of the put￿￿&01Ch￿ty De9gnated fund5wÈ unrestricted funds of the charity whith the iruyee5 have deoded èt their dKTetth 1¢ set aside for a speolic pu￿se Re5traed f￿ndS are donations or grant5 ¥thich the &JDoThas SpeC1f￿ are to bE 5(Aety used fora partKul¥ wrrxr*orarea of the Trit5t'sviJtk oi p[r¥￿ts being undertaken by the Trust Expend<(ure ExpEndilure 15 Fe(ogD15Èdontr there Is a or Construa￿ oblKJati￿ to rnake a pawwii io è thrd party. li Is probable that settlement wll bE reqU￿led aThJ the arth)uni of thEONwat￿ me&Jred Expenditure ss Clas9f￿ Lnder tht foUown9 heading5. -co￿ ol raNng fundsconwri5e It* cosi of crAnmercNIl tradin9 - éxpenditure on charit￿￿ aom1￿5 inclL¥Je5 IIE cost of operaliny nu￿ery￿r￿j (Nrtreth Se￿iCe5 - managemefit and èdminMration Includes support Costs for th0￿ fun0￿n5 Ihai as%51 thevnrk of the charity xpenditureon ILxed assets Iscapitalised aThJ Irduded In the S￿et at ¢¢ST less depTeaati(m. Acorre5pondingawuni 15 iniludgj In d*ignated fuThl undér iesew th reflett IhE nei bcrt* value of the a$8ets le55 loan58ecured on those a$8ets Taxation a iegistered tharity, Ihe Organ￿7¢1￿ ¢5 Exempt frr*rs incorne ar¥1 (tswatK)n taxto ¢he extentthat its inc(xne aThJ g*rs are applicab￿ to [harrtab￿ purpose5 onty. Operaiing leases Rentals paid under operating Wes are thaiged to fftcomÈon a 5tr•ghi li￿ ba￿S0%￿r tem. Tangible fixed Tangible fixed a55ets foi use by thwty ale stated at con kn depretio￿. Deprec1aiion Is prowded at rates Calcu￿ted to %wite ON the coll or Y¥LWlion of f￿ed asw. k55 thwr estwnaied res￿l￿al value. ovei Ih¥r ected useful Iweson the followty base5." operty - over life of ￿ase office equspment- 25% Reduor*J bd*Ke P¥e8 HADLEY WOOD SPORTS TRUST IPrivate Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS for the ar ended 30 November 2023 FixeEI asse1 investments Investments are a forrn of basK finar(ial Instrument and are Initwlty retognised ai their transact￿￿ value and sUbSeq￿n11Y measured at their fair value as at the balance Sheet date using the ck)sing quoted mathet price. The statement of financial adivities irKluded the net gains and losses 4r151ng on revaluation and disposals throughout the year. Debtors Trade and other dèbtors are rec¢KJnised at the settkment amount due after any trade dtscount offe￿. PrepaYr￿nts arp valued at th arnount prepaid net of any trade ￿￿Ourtts dL*. Cash at bank and in hand Cash èt bank and in hand includes Cash and Short term high￿ INU￿ Investments wit a short matUTity of less than three months Irorn the date of acquisttion or opening of the deposit or sirnikir atrount. (￿dItorS and provisions Creditors and pwisions are rKo9nised where the charrty has a present obligatb)n resU￿1Th9 from a past event that will probably re5U in the transfer of funds to a third party and amount dije to settle the obligatK>n can te measured or e5timoted reliably. Financial instruments The trust has only ha5 finantk31 assets and finantial liabilities of a kind that qualfy a5 boyt financ￿1 Instruments. The Charrty does not acquire put Oplions. derDl4tive5 or other com ￿eX finantia1 Instruments. main form of finarKkal risk faced by the chorty 15 that of volatiltty In Èquity and investrnent markets to wder ÈcommK conditK)ns. the attitude of investors to risk. and changes in sentiment conceming equities. Page 9 HADLEY WOOD SPORTS TRUST (Private Company Limiled by Guarantee) Notès to the financial Statements for the ended 30 Novèmber 2023 1 Legal #atus of the Trust The Trust Is a company Iimrted by guaTrmee and Iws no share capital_ In the event of the chanty being wound up, the liabilty ln respÈa of the guarantee ￿ lirnited to £1 per membpr of the charity. 2 Financial pertorrnance of the charrty Nov.23 Nov-22 Income 92.316 90,728 Expend((ure on Charitab￿ aCt￿rt*S Expenditure on management and administratK)ft DepreCiat￿n 46.761 3.210 51,328 49,971 57.368 Net InC￿e 42.345 33,360 Totsl funds brothjht forward 1.222.950 1.189,590 Total funth carr*d forward Repfesented by.. Unrestricted fund5 1,265,295 1,222.950 1.265.295 1.222.950 3 Income from Donations and Gronts Grant5 ￿CeIva￿e Donatk)ns 60.000 6D,000 60.000 60.000 4 Income from charitabk acti￿tieS 5 Income from Other actNrtie5 Rent Received Fees Interest receNèb 30.rm 30.000 2,316 728 32.316 30,728 6 Anaty5i5 of expenditure on charitable artN[t￿s Stafl tosts Oepreckition Ot￿r running costs Donaknons 9.477 36.284 I,OCKI 46.761 18.671 32.657 34.698 7 An4tysi5 01 governance and suppjrt C05t Siaff costs Audrt 8nd accountancy Bank charge5 Other legal & profesSK)nal 1.350 85 1.775 1.250 77 4.7)3 3.210 6.040 Page 10 HADLEY WOOD SPORTS TRUST {Private Company Limited by Guaranteè) Note5 to the financial statements for the ar ended 30 NO￿rnber 2023 Nov-23 Nov-22 8 Net income l(expenditurel for ihe year This is slated aftei charging. Depreciation-iJwned a55ets Auditor5 remuneration for Ot￿r services 9.477 1.350 18,671 1,250 9 Trustees. remuneration The trustees weie not POKI or recewed any ber*fits Irorn Charity during the yeai in their capacity as tr￿tees. 10 Related party transaciior A5 ai 30 November 2023. A Davis and K Garber. ￿th Trustees were sU￿ In the financial 5tatemeni> 21 Leasehold Depfeciation Duiing the year. deprecrdiDn ha5 bee¢) (Wed over ihe life ol lease Awtréi9(Mi ha5 be chèrge wyth regards io rerA&ernent of tht wifical plwn9 Wrt¥e. tt ￿eSt￿￿ed that the 5Urt*e will be renewed every 10 years. Page 13 HADLEY WOOD SPORTS TRUST IPrNate Company Limrted by Guarantee) Detailed income and expenditure account for the ar ended 30 November 2023 Nov-23 Nov-22 Rents RecepRd Grant Fund1ng Donaiion5 Received Bank Interest ReceNed Fee5 30,000 30.000 60.0(K) 2,316 60,CQO 728 92.316 90.728 Administratwe Expnses Rate5 In5urènce Light & Heat Repairs & Maintena￿¢ Telephone Accountsncy & bookkeeping Gener31 Expense5 Arnortisation on Land Lease Other Interest paid on loans <1 Oonation5 2,141 3,100 9.097 16,603 2.976 2,330 8.764 13.401 1.018 3.000 1,168 18,671 3.0( 1.132 9,477 i.o 51.328 Management & admin￿trail￿.. Staff cosis Audit and actountancy Bank charges & Interest Legal & profes%ona1 expertse5 1,350 85 1.775 1,250 77 .713 3.210 6.040 Net ProfiV(Loss) 42.345 33.360 Pa98 14