**Registered number: 07101530 Charity number: 1133497** ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED** **30 JUNE 2022** **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **CONTENTS** ||Page| |---|---| |**Trustees information and reference and administrative details of the charity and**|1| |**advisers**|| |**Trustees' report**|2 - 4| |**Independent examiner's report**|5| |**Statement of financial activities**|6| |**Balance sheet**|7| |**Notes to the financial statements**|8 - 19| ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **TRUSTEES** ## **Trustees** Mrs V E Adams (resigned 13 July 2021) Mr A C Balkwill Mr S J Barnes Mr S D Heard Mr R W J Hornby Mr J D Moxon Mrs D E Symons (resigned 13 July 2021) Mrs H A Dwyer (appointed 13 July 2021, resigned 11 October 2022) ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY AND ADVISERS** ## **Company registered number** 07101530 ## **Charity registered number** 1133497 ## **Registered office** Old Surbitonians Memorial Ground, Fairmile Lane, Cobham, Surrey, KT11 2BU ## **Company secretary** Mr R W J Hornby ## **Chief executive officer** Mr S D Heard ## **Accountants** Wellden Turnbull Limited, Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ ## **Bankers** National Westminster Bank Plc Exemptions from disclosures Details of specific exemptions from disclosures are recorded in the appropriate places within the accounts. Page 1 ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2022** The Trustees present their annual report together with the financial statements of the charity for the financial year from 1 July 2021 to 30 June 2022. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published in October 2019. Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. This trustees' report constitutes a director's report under company law. ## **OBJECTIVES AND ACTIVITIES** ## **Policies and objectives** In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit. ## **Strategies for achieving objectives** Organisation of events to promote community participation in healthy recreation for the benefit of the inhabitants of Cobham and the surrounding areas by the provision of facilities for playing sports. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Review of activities** After two years that were heavily impacted by the Covid-19 pandemic and the UK government’s measures to contain the virus, the year ended 30 June 2022 saw the charity and its affiliated sporting sections finally return to a more normal way of operating, both on and off of the sports field. There was a brief cessation of hospitality events in the run up to Christmas in December 2021 but sporting activity flourished throughout the year. Rugby, Lacrosse, Netball and Tennis sections all made full use of the charity’s sporting facilities and together with both the Cobham Free School’s and wider Community use of the Artificial Grass Pitch, sporting activity at the Memorial Grounds is now a constant presence nearly every day of the year from early in the morning till late at night. Thankfully the 2022/23 financial year has seen sporting activity continue to flourish, although inflationary pressures on operating costs are now providing a new headache for the trustees. However, after years of prudent financial operation the charity is well placed to meet these new challenges whilst continuing to provide first class sporting facilities to members and the wider Community in the local area. ## **FINANCIAL REVIEW** ## **Going concern** The trustees have reviewed the circumstances of the charity, and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, being at least 12 months from the date of this report. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Page 2 ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 30 JUNE 2022** ## **Review of financial position** The charity's financial position at the end of the reporting period is shown on the Balance Sheet on page 7. Net assets continue to exceed £2.1m. ## **Reserves policy** The Trustees' policy is to endeavour to maintain sufficient unrestricted general funds to cover day-to-day resources expended by the charity for a period of at least twelve months. This level should enable the charity to continue to operate even if non-guaranteed funding were to drop unexpectedly. Current reserves and income levels presently exceed this aim. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Constitution** The charity is constituted under a Memorandum of Association dated 10 December 2009 and is a registered charity, number 1133497. The principal objective of the charity is the promotion of community participation in healthy recreation for the benefit of the inhabitants of Cobham and the surrounding areas by the provision of facilities for playing sports. ## **Method of appointment or election of Trustees** The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. ## **Policies adopted for the induction and training of Trustees** Trustees are appointed by members of the management committee and inducted and trained by existing Trustees as to their responsibilities and duties. ## **Risk management** The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. Page 3 COBHAM RUGBY & SPORTS ASSOCIATION IA company linited by guarantÈe> TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 JUNE 2022 Truste•s' re5ponsibilitses statthnert The Tntstees (who are also direLXots of Cotjham RwJty & Swrts knociatron for purposes of comtfjny law) are reswnsible for weparing the Trustees, 8nnual re￿rt and the finanaal statements in accordance with applicable law and Unlted lfjngdom AccountirvJ StaThJards (Unitaj I￿￿Orn Generalty Accepted Accounting PrdCtice}. Company law requiTes the Tr￿tee$ to prepare financaal slatements for each fjnaneial year. UrKJer company law the Trustees must not atvrove the finan(#al statements unless they are satisfied that they give a true arKI fair ew of $￿e of affairs of the charitable company aNI of the incoming r&ourees and applicatron of resources, indudirg the income and expenditure. of the charitable company for that wi(xJ. In preparing tnese financial statements, the Trustees are required t(r select sixtable ￿)Un11r9 pokies aThl then ath them consisteDUy. obseNe the methc*ts ar¥J in the Chaiities SORP" make J￿Igments and accountiThJ eslimates that are reasonable aTrJ pnxlentr, state whether applicable UK A¢￿Unting StsThlard5 IFRS 102) have follow&J, subj.ect to any material departures rfisc105ed and eXp￿Ined in the financ4al statements; epare the fjn8ncial statements on the goiry conwn basis unless it B inaFvowiats to presume that the clrdritable Company￿11 conlinue in operalion. The Tntstees are reS[MM￿1b1e for kee[*￿ alequate accountirKJ recorts that are sufficient to show and explain the charitable comp8nYs trartsaclions arKI disclose ￿ryth rwdsonable accuracy al any time the finanual Fosilton of the eharitable company and enable them to ensure that the finan(#al statements compty ¥￿th the Companies Act 2(XJ6. They are also T￿[M)r￿lt￿e for Safeguardi￿ the assets of the chaiitable ccxnpany and hence for takirvJ reasonable steps for the prevention aThl dete￿1￿ of fr81KI aThJ other irregularffjes. This reportvrns approvtyj ty the Tn￿. or> 20/04123 and signed on their tr*hafty. Mr J D Moxon Trustee ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2022** ## **Independent examiner's report to the Trustees of Cobham Rugby & Sports Association (the 'charity')** I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 June 2022. ## **Responsibilities and basis of report** As the Trustees of the charity (and 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 charity 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 the charity's accounts 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 can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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. Signed: 20/04/23 Dated: Robin John FCA CTA (Senior Statutory Auditor) for and on behalf of Wellden Turnbull Limited Chartered Accountants Statutory Auditors Albany House Claremont Lane Esher Surrey KT10 9FQ Page 5 ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2022** |Note
**INCOME FROM:**
Donations and legacies
2
Other trading activities
3
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable activities
4,5
**TOTAL EXPENDITURE**
**NET INCOME / (EXPENDITURE) BEFORE OTHER**
**RECOGNISED GAINS AND LOSSES**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
2022
£
55,465
188,934
244,399
197,446
197,446
46,953
46,953
2,207,985
2,254,938|Total
funds
2022
£
55,465
188,934
244,399
197,446
197,446
46,953
46,953
2,207,985
2,254,938|Total
funds
2021
£
50,822
164,736
215,558
306,731
306,731
(91,173)
(91,173)
2,299,158
2,207,985| |---|---|---|---| The notes on pages 8 to 19 form part of these financial statements. Page 6 COBHAM RUGBY & SPORTS ASSOCIATION (A company I￿lted by guarantee) REGISTERED NUMBER: 07101530 BALANCE SHEET AS AT 30 JUNE 2022 Note FIXED ASSETS T8ngitAe assets Investments 1.975.282 15201 2,104.672 15,201 1.9￿.483 2,119,873 CURREKf ASSErs DebtotS C85h at bank and in hand 10 119,416 214.749 42,667 210,443 334.165 253.110 CREDITORS: amounts fallNJ due witrrfn one year 11 (40.413) (124,520) I￿T CURRENT ASSETS 293,752 128,590 TOTAL ASSEtS LESS CURREKf UABIUTIES CREDITORS: amounts falSry due after more than one year 2284.Z35 2248.463 12 P9,29T) (40,478) NET ASSETS 2254,938 2207,985 CHARITY FUNDS Unre5tr[Ct￿ funds 14 2.254.938 2.207.985 TOTAL FUNDS 2.254,938 2207.985 The chartty5 ffnancÈal statements have been rKepargJ ift accordan¢e ￿1th the FloV￿lOrts aFykcable to companies sut4.ect to the small corr4)anie5 regime. The TnK%tees consider that the charity 15 entstkd to exemFAion from the requirement to have an autht u￿ler the Fwovisions of section 477 of the Companies A(a 2006 fthe W and rneMbe￿ have not rryjuir￿l the charity to otrtain an audit forthe year in queslion sn ace¢xdance *ilh sedion 476 ofthe Act The Trnstees aCkr￿wIety their Te5FM)rtsiLifilies for corWirKJ y￿th the requirements of the Companie5 Act 2006 ith respect to accounlirvJ records arml the preFW8kn of finan(#￿ ststew￿nts. The financial statements were apwOV￿I and authori￿ for issue ty the Tnthes on 20/04123 S￿n￿l on their behalf, by: MrJ Dmoxon TTUStee The notes on pages 8 to 19 fonn of these firrarKial slaternents. p￿e7 **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **1. ACCOUNTING POLICIES** ## **1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS** 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. Cobham Rugby & Sports Association meets the definition of a public benefit entity under FRS 102. The charity does not include a cash flow statement on the grounds it is deemed a small company as per FRS102 Section 7. The financial accounts are prepared on a going concern basis under the historical cost convention, unless otherwise specified in the accounting policies. The financial statements cover the charity as an individual entity and are presented in sterling, which is the functional currency of the charity and rounded to the nearest £1. Significant accounting policies are set out below. ## **1.2 GOING CONCERN** These financial statements have been prepared on a going concern basis which means that the charity will continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements. In assessing the appropriateness of the going concern basis of preparation, the trustees have taken into account the key risks of the charity. Having undertaken their assessment, the trustees have a reasonable expectation that the charity has sufficient resources to meets its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements and the trustees consider it appropriate to prepare these financial statements on a going concern basis. ## **1.3 FUND ACCOUNTING** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 8 **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **1. ACCOUNTING POLICIES (continued)** ## **1.4 COMPANY STATUS** The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. ## **1.5 INVESTMENTS** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Net gains and losses arising on revaluations and disposals are included in the statement of financial activities incorporating income and expenditure account. ## **1.6 TANGIBLE FIXED ASSETS AND DEPRECIATION** A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities incorporating income and expenditure account. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Freehold land - not depreciated - Artificial Grass Pitch ("AGP") 2.5% - 12.5% straight line - Roadways parking compound 2.5% straight line - Club operating capital projects 25% reducing balance Clubhouse - 2.5% - 5% straight line Fairmile Grounds - 3.33% straight line - Memorial pitch and irrigation 3.33% straight line - Tennis, netball courts and 5% - 20% straight line grounds equipment Page 9 ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **1. ACCOUNTING POLICIES (continued)** ## **1.7 INCOME** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Where there are terms or conditions attached to incoming resources, particularly grants, then these terms or conditions must be met before the income is recognised as the entitlement condition will not be satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income. For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. For donations to be recognised, the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the conditions are within the control of the charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Page 10 **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **1. ACCOUNTING POLICIES (continued)** ## **1.8 DONATIONS AND VOLUNTARY INCOME** Income from donations, fundraising and other voluntary income are accounted for on a receivable basis. ## **1.9 EXPENDITURE** Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities. ## **1.10 CREDITORS** Trade and other creditors are recognised at the settlement amount after any trade discount offered. Accruals are valued when an invoice has not been received before the year end but a specific amount relates to this financial year. ## **1.11 DEBTORS** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.12 CASH AT BANK AND IN HAND** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.13 LIABILITIES AND PROVISIONS** Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. ## **1.14 OPERATING LEASES** Rentals under operating leases are charged to the statement of financial activities on a straight line basis over the lease term. Page 11 **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **1. ACCOUNTING POLICIES (continued)** ## **1.15 BASIC FINANCIAL INSTRUMENTS** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **1.16 TAXATION** The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **2. INCOME FROM DONATIONS AND LEGACIES** |Cobham Rugby Football Club Ltd and CSA Trading Ltd
donations
Sundry donations and gift aid
Covid-19 grants
Bank interest income
Total donations and legacies
Total 2021
the year the charity received Covid-19 related grant income
(2021 - £45,598).
**ACTIVITIES FOR GENERATING FUNDS**
Rent and section fees
Net income from activities for generating funds|Unrestricted
funds
Total
funds
Total
funds
2022
£
2022
£
2021
£
45,000
45,000
-
8,590
8,590
5,224
1,850
1,850
45,598
25
25
-
55,465
55,465
50,822
50,822
50,822
from Elmbridge Borough Council totallin
Unrestricted
funds
Total
funds
2022
£
2021
£
188,934
164,736
188,934
164,736|Total
funds
2021
£
-
5,224
45,598
-| |---|---|---| |||| |||| |||50,822| |||164,736| During the year the charity received Covid-19 related grant income from Elmbridge Borough Council totalling £1,850 (2021 - £45,598). ## **3. ACTIVITIES FOR GENERATING FUNDS** In September 2019, the charity signed a lease agreement with The Secretary of State for Housing, Communities and Local Government for the hire of the "AGP", which entitles the charity to annual rental income starting at £50,000 per annum, rising to £80,000 per annum by 2024. The lease term is 30 years and the earliest break date, exercisable by the charity, is 5 September 2025. The 2022 accounts include rental income of circa £60,000 (2021 - £55,000) within Rent and section fees in respect of this. Page 12 ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **4. EXPENDITURE ON CHARITABLE ACTIVITIES** |Direct costs
Charitable activities - see below
Depreciation charges
Total 2021
**CHARITABLE ACTIVITIES**
Clubhouse overhead expenditure
Bank charges and loan interest
Total
**SUPPORT COSTS**
Support costs|Unrestricted
funds
2022
£
(12,462)
38,759
130,352
156,649
263,313


|Unrestricted
funds
2022
£
(12,462)
38,759
130,352
156,649
263,313


|Total
funds
2022
£
(12,462)
38,759
130,352
156,649
263,313
2022
£
37,028
1,731

38,759
Unrestricted
funds
2022
£
40,797||Total
funds
2021
£
125,627
7,218
130,468| |---|---|---|---|---|---| ||||||263,313| ||||||2021
£
5,206
2,012| ||||||| ||||||| ||||||| ||||||7,218| ||||||Total
funds
2021
£
43,418| **5. SUPPORT COSTS** Fees in relation to the preparation of the accounts and for providing an independent examination are included in support costs and amounted to £2,850 (2021 - £2,750). No remuneration or expenses were paid to trustees during the year. ## **6. TAXATION** The charitable company is exempt from corporation tax on its charitable activities. Page 13 ## **COBHAM RUGBY & SPORTS ASSOCIATION** **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **7. STAFF COSTS** The charity has no employees other than the Trustees, who did not receive any remuneration (2021 - £NIL). No employee received remuneration amounting to more than £60,000 in either year. Page 14 ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **8. TANGIBLE FIXED ASSETS** |Club operating
capital projects
£
**COST**
At 1 July 2021
53,360
Additions
-
At 30 June 2022
53,360
**DEPRECIATION**
At 1 July 2021
52,237
Charge for the year
350
At 30 June 2022
52,587
**NET BOOK VALUE**
At 30 June 2022
773
At 30 June 2021
1,123
**COST**
At 1 July 2021
Additions
At 30 June 2022
**DEPRECIATION**
At 1 July 2021
Charge for the year
At 30 June 2022
**NET BOOK VALUE**
At 30 June 2022
At 30 June 2021|Artificial Grass
Pitch
£
661,931
-
661,931
102,331
58,741
161,072
500,859
559,600
Roadways
parking
compound
£
156,181
-
156,181
25,624
3,905
29,529
126,652
130,557|Tennis, netball
courts and
grounds
equipment
£
101,076
-
101,076
63,923
5,629
69,552
31,524
37,153
Memorial pitch
and irrigation
£
241,897
-
241,897
60,578
8,055
68,633
173,264
181,319|Clubhouse
£
1,450,776
962
1,451,738
439,246
45,210
484,456
967,282
1,011,530
Fairmile
Grounds
£
254,115
-
254,115
75,388
8,462
83,850
170,265
178,727|Freehold land
£
4,663
-
4,663
-
-
-
4,663
4,663
Total
£
2,923,999
962
2,924,961
819,327
130,352
949,679
1,975,282
2,104,672| |---|---|---|---|---| Included above is freehold land at a cost of £4,663 which is not depreciated. Included in the Fairmile Grounds cost brought forward is a grant from Sport England, which is subject to a legal charge for a period of 25 years from 10 September 2011. Page 15 ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **9. FIXED ASSET INVESTMENTS** |**FIXED ASSET INVESTMENTS**|| |---|---| ||Shares in group| ||undertakings| ||£| |**MARKET VALUE**|| |At 1 July 2021 and 30 June 2022|15,201| ## **SUBSIDIARY UNDERTAKINGS** The following were subsidiary undertakings of the company: ||||2022
|2021| |---|---|---|---|---| |Name||Holding
|£
|£| |CSA Trading Ltd||100%|100|100| |Cobham Rugby Football Club Ltd||100%|100|100| |Cobham Didi Rugby Limited||100%|1|1| ||||201|201| |**Name**|**Business**||**Registered office**|| |CSA Trading Ltd|Sporting and commercial||England & Wales|| ||activities|||| |Cobham Rugby Football Club Ltd|Sporting and club activities||England & Wales|| |Cobham Didi Rugby Limited|Other sports activities||England & Wales|| ## **VALUATION** Since the above investments are unquoted, the fair value of the investments has been deemed the original cost of the share capital. ## **10. DEBTORS** |Trade debtors
Amounts owed by Cobham Rugby Football Club Ltd
Amounts owed by Cobham Didi Rugby Ltd
Amounts owed by CSA Trading Ltd|2022
£
-
45,000
52,250
22,166
119,416|2021
£
417
-
42,250
-| |---|---|---| |||42,667| Amounts due from group undertakings are interest free and repayable on demand. Page 16 ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |2022
£
Bank loan (secured)
12,858
Taxation and social security
4,595
Other creditors
-
Accruals and deferred income
22,960
40,413
**12.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
2022
£
Bank loan (secured)
29,297
The amount falling due after five years, repayable by installments is £NIL (2021 - £NIL).
**13.**
**BASIC FINANCIAL INSTRUMENTS**
2022
£
**Financial assets /liabilities measured at fair value through net**
**income/expenditure include the following:**
Cash in hand and bank
214,749
Other - assets
117,250
Other - liabilities
-


Total
331,999
2022
£
**Financial liabilities measured at amortised cost include the**
**following:**
Bank loan (secured)
42,155


Total
42,155|2021
£
12,857
3,314
19,370
88,979
124,520
2021
£
40,478
2021
£
210,443
42,667
(19,370)
233,740
2021
£
53,335
53,335| |---|---| The total bank loan outstanding at the year end totalling £42,155 (2021 - £53,335) is secured by the freehold property situated at and being Old Surbitonians Memorial Ground, Fairmile Lane, Cobham, Surrey, KT11 2BU. Bank loan terms require repayments annually and interest is repayable quarterly. The bank loan matures in 2025. Page 17 ## **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **14. STATEMENT OF FUNDS** ## **STATEMENT OF FUNDS - CURRENT YEAR** |**DESIGNATED FUNDS**
PM Trust Fund
Tennis court resurfacing
"AGP" resurfacing
**GENERAL FUNDS**
Unrestricted funds
Total Unrestricted funds
Total of funds

**STATEMENT OF FUNDS - PRIOR YEAR**
**DESIGNATED FUNDS**
PM Trust Fund
Tennis court resurfacing
"AGP" resurfacing
Unrestricted funds
|Balance at 1
July 2021
£
53,728
40,000
55,000
148,728
2,059,257
2,207,985
2,207,985

Balance at
1 July 2020
£
53,728
10,000
25,000
88,728
2,210,430|Income
£
-
-
-
-
244,399
244,399
244,399
Income
£
-
-
-
-
215,558|Expenditure
£
-
-
-
-
(197,446)
(197,446)
(197,446)
Expenditure
£
-
-
-
-
(306,731)|Transfers
in/(out)
Balance at 30
June 2022
£
£
-
53,728
5,000
45,000
30,000
85,000
35,000
183,728
(35,000)
2,071,210
-
2,254,938
-
2,254,938
Transfers
in/(out)
Balance at 30
June 2021
£
£
-
53,728
30,000
40,000
30,000
55,000
60,000
148,728
(60,000)
2,059,257| |---|---|---|---|---| ## **Designated funds** The PM Trust fund is a designated, unrestricted fund, the aim of which is to fund capital expenditure projects as agreed by the trustees. During the current year no spending was incurred from this fund. The tennis court resurfacing fund is a designated fund created in 2019 by the trustees to earmark funds for the purpose of resurfacing the tennis courts in 2025. During the period to 30 June 2022 the trustees agreed to set aside an additional £5,000 (2021: £30,000) for the purpose of resurfacing and redeveloping the courts. The trustees have agreed to continue topping up the fund by £1,250 a quarter. An "AGP" designated fund was agreed by the trustees in 2019 to set aside funds for future pitch resurfacing costs. During the period to 30 June 2022 the trustees agreed to set aside an additional £30,000 (2021: £30,000) for this purpose. The total anticipated expenditure is estimated at £240,000 in 2027. Page 18 **COBHAM RUGBY & SPORTS ASSOCIATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **Restricted funds** There are no restricted funds held at 30 June 2022 (2021: £Nil). ## **15. GUARANTEES AND FINANCIAL COMMITMENTS** The charity is the guarantor of advertising levies and management fees under a franchise agreement entered into by Cobham Didi Rugby Limited, a wholly owned subsidiary of the charity, in April 2019. The initial term of the agreement was 3 years and it has been subsequently extended for a further 3 years. ## **16. OPERATING LEASE COMMITMENTS** At 30 June 2022 the total of the charity’s future minimum lease payments under non-cancellable operating leases was: |**AMOUNTS PAYABLE:**
Within 1 year
Between 1 and 5 years
After more than 5 years
Total|Land and buildings
2022
2021
£
£
25,000
25,000
100,000
100,000
350,000
375,000
475,000
500,000|Other
2022
2021
£
£
-
-
-
-
-
-
-
-|Other
2022
2021
£
£
-
-
-
-
-
-
-
-| |---|---|---|---| ||||-| Rents payable under operating leases are subject to periodic rent review. Lease payments recognised as an expense during the year were £25,000 (2021 - £25,000). ## **17. RELATED PARTY TRANSACTIONS** At the year end the charity was owed £20,001 (2021 - £NIL) by CSA Trading Ltd, a wholly-owned subsidiary. At the year end the charity was owed £45,000 (2021 - £NIL) by Cobham Rugby Football Club Ltd, a wholly-owned subsidiary. During the year, the charity received donations of £45,000 (2021 - £NIL) from Cobham Rugby Football Club Ltd. At the year end the charity was owed £52,250 (2021 - £42,250) by Cobham Didi Rugby Limited, a wholly owned subsidiary. The loan balance is interest free and repayable on demand. ## **18. CONTROLLING PARTY** The charity is controlled by its Committee. There is no ultimate controlling party. Page 19