REGISTERED COMPANY NUMBER: 06972479 (England and Wales) REGISTERED CHARITY NUMBER: 1132595
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 April 2023
for
Tenbury Rugby Football Club Limited
dhjh Tenbury Wells LLP Chartered Certified Accountants 81 Teme Street Tenbury Wells WR15 8AE
Tenbury Rugby Football Club Limited
Contents of the Financial Statements for the Year Ended 30 April 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
Tenbury Rugby Football Club Limited (Registered number: 06972479)
Report of the Trustees for the Year Ended 30 April 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The promotion of community participation in healthy recreation for the benefit of the inhabitants of Tenbury Wells. Worcestershire, by the provision of facilities for playing Rugby Union Football.
Significant activities
The trustees main activities each year are the continued provision of facilities and opportunities for playing rugby football union.
Public benefit
The trustees confirm that they have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard to guidance on public benefit published by the Charity Commission when reviewing the charity's objectives and in planning future activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year ended 30 April 2023, the Club had a steady season with both teams having success.
FINANCIAL REVIEW
Financial position
During the year to 30 April 2023, the Charity generated income of £33,419 (2022: £27,965) and had expenditure of £29,080 (2022: £28,276) resulting in net income £4,339 (2022: Expenditure £311).
Reserves policy
The trustees have reviewed the risks of the Charity during the year and have recognised the impact the pandemic had on the charity's incoming resources in previous years. The trustees consider the current reserves policy of maintaining free reserves equivalent to three months expenditure, to still be appropriate, as this allows time to either secure further funding or take other necessary steps to allow the charity to continue to provide the essential service to the local area.
Based on current expenditure, free reserves per the policy should be £13,000. At 30 April 2023 free reserves amounted to £55,227 (2022: £50,888) and therefore, the trustees have deemed reserves to be of a satisfactory level. They will continue to monitor the risks and reserves held by the charity and consider funds held in conjunction with other projects that the trustees may consider for the future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Where there is a requirement for new trustees, these would be identified by the remaining trustees. The chairman is responsible for the induction of any new trustee, which involves trustee's responsibility, the governing document and administrative procedures.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06972479 (England and Wales)
Registered Charity number
1132595
Page 1
Tenbury Rugby Football Club Limited (Registered number: 06972479)
Report of the Trustees for the Year Ended 30 April 2023
Registered office
Penlu Sports Club Worcester Road Tenbury Wells Worcestershire WR15 8AP
Trustees
T G Coles R G Bowkett A G Black (resigned 15.7.23) M R Fazakarley P Stevens (appointed 15.7.23)
Independent Examiner
T G Giles dhjh Tenbury Wells LLP Chartered Certified Accountants 81 Teme Street Tenbury Wells WR15 8AE
Approved by order of the board of trustees on 23 January 2024 and signed on its behalf by:
P Stevens - Trustee
Page 2
Independent Examiner's Report to the Trustees of Tenbury Rugby Football Club Limited
Independent examiner's report to the trustees of Tenbury Rugby Football Club Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
T G Giles
dhjh Tenbury Wells LLP Chartered Certified Accountants 81 Teme Street Tenbury Wells WR15 8AE
23 January 2024
Page 3
Tenbury Rugby Football Club Limited
Statement of Financial Activities for the Year Ended 30 April 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 7,575 Other activities 2 25,750 Investment income 3 94 Total 33,419 EXPENDITURE ON Raising funds 18,118 Charitable activities Playing expenses 10,962 Other - Total 29,080 NET INCOME/(EXPENDITURE) 4,339 RECONCILIATION OF FUNDS Total funds brought forward 50,888 TOTAL FUNDS CARRIED FORWARD 55,227 |
2022 Total funds £ 3,931 24,029 5 27,965 21,192 5,955 1,129 28,276 (311) 51,199 50,888 |
|---|---|
The notes form part of these financial statements
Page 4
Tenbury Rugby Football Club Limited (Registered number: 06972479)
Balance Sheet 30 April 2023
| 2023 Unrestricted fund Notes £ CURRENT ASSETS Stocks 7 510 Debtors 8 1,715 Cash at bank and in hand 54,370 56,595 CREDITORS Amounts falling due within one year 9 (1,368) NET CURRENT ASSETS 55,227 TOTAL ASSETS LESS CURRENT LIABILITIES 55,227 NET ASSETS 55,227 FUNDS 10 Unrestricted funds 55,227 TOTAL FUNDS 55,227 |
2022 Total funds £ 375 1,715 51,889 53,979 (3,091) 50,888 50,888 50,888 50,888 50,888 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 January 2024 and were signed on its behalf by:
P Stevens - Trustee
The notes form part of these financial statements
Page 5
Tenbury Rugby Football Club Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
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, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
2. OTHER ACTIVITIES
3.
| Vice President Subscriptions Clothing Draw Bar income Tickets INVESTMENT INCOME Interest receivable |
2023 £ 1,130 180 1,530 21,985 925 25,750 2023 £ 94 |
2022 £ 1,151 120 1,350 21,408 - |
|---|---|---|
| 24,029 | ||
| 2022 £ 5 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2023 nor for the year ended 30 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2023 nor for the year ended 30 April 2022.
Page 6
continued...
Tenbury Rugby Football Club Limited
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Bar staff No employees received emoluments in excess of £60,000. 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Other activities Investment income Total EXPENDITURE ON Raising funds Charitable activities Playing expenses Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. STOCKS Stocks 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors |
2023 2022 2 2 Unrestricted fund £ 3,931 24,029 5 27,965 21,192 5,955 1,129 28,276 (311) 51,199 50,888 2023 2022 £ £ 510 375 2023 2022 £ £ 1,715 1,715 |
|---|---|
Page 7
continued...
Tenbury Rugby Football Club Limited
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Trade creditors | 168 | 1,891 | ||
| Accrued expenses | 1,200 | 1,200 | ||
| 1,368 | 3,091 | |||
| 10. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1/5/22 | in funds | 30/4/23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 50,888 | 4,339 | 55,227 | |
| TOTAL FUNDS | 50,888 | 4,339 | 55,227 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 33,419 | (29,080) | 4,339 | |
| TOTAL FUNDS | 33,419 | (29,080) | 4,339 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1/5/21 | in funds | 30/4/22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 51,199 | (311) | 50,888 | |
| TOTAL FUNDS | 51,199 | (311) | 50,888 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 27,965 | (28,276) | (311) | |
| TOTAL FUNDS | 27,965 | (28,276) | (311) |
Page 8
continued...
Tenbury Rugby Football Club Limited
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2023.
Page 9