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← Cobham Rugby & Sport Association

2024-06-30-accounts

Registered number: 07101530 Charity number: 1133497

COBHAM RUGBY & SPORTS ASSOCIATION

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2024

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 - 18

COBHAM RUGBY & SPORTS ASSOCIATION

(A company limited by guarantee)

TRUSTEES

Trustees

Mr A C Balkwill Mr S J Barnes Mr S D Heard Mr R W J Hornby Mr J D Moxon

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 2024

The Trustees present their annual report together with the financial statements of the charity for the financial year from 1 July 2023 to 30 June 2024. 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

Despite the challenging economic backdrop, where inflation was operating at higher levels, the 2023/24 financial year saw the charity and its trading subsidiaries perform robustly. Following years of prudent financial management, the charity was 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.

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 (“AGP”), 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. Towards the end of the previous year the charity submitted proposals to the local planning authority with an eye on upgrading the facilities provided to the tennis and netball sections and, whilst frustrated by an initial setback, the trustees remain committed to this project which is seen as key to ensuring both sections remain active components of the sporting set up at the Memorial Grounds in Cobham. The charity also invested just under £35,000 in new hot water boilers and around £10,000 in upgrading the external entrance to the downstairs bar.

The 2024/25 financial year has continued in a similar vein with significant investments in replacing the AGP floodlights with more energy efficient LED blubs and refurbishing and repainting the tennis and netball courts. Sporting activities have continued to flourish. Financially, the charity remains in a robust position and remains committed to developing further it’s sporting footprint.

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 2024

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 £2m.

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

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 30 JUNE 2024

Trustees' responsibilities statement

The Trustees (who are also directors of Cobham Rugby & Sports Association for the purposes of company law) are responsible for preparing the Trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees, on

and signed on their behalf by:

27 Jun 2025

Jonathan Moxon (Jun 27, 2025, 1:48pm)

Mr J D Moxon

Trustee

Page 4

COBHAM RUGBY & SPORTS ASSOCIATION

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2024

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 2024.

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: Dated: 27 June 2025

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 2024

Note
INCOME FROM:
Donations and legacies
2
Other trading activities
3
TOTAL INCOME
EXPENDITURE ON:
Charitable activities
4,5
TOTAL EXPENDITURE
NET EXPENDITURE BEFORE OTHER RECOGNISED
GAINS AND LOSSES
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2024
£
44,929
222,462
267,391
356,246
356,246
(88,855)
(88,855)
2,169,154
2,080,299		 Total
funds
2024
£
44,929
222,462
267,391
356,246
356,246
(88,855)
(88,855)
2,169,154
2,080,299		 Total
funds
2023
£
44,887
199,917
244,804
330,588
330,588
(85,784)
(85,784)
2,254,938
2,169,154

The notes on pages 8 to 18 form part of these financial statements.

Page 6

COBHAM RUGBY & SPORTS ASSOCIATION

(A company limited by guarantee) REGISTERED NUMBER: 07101530

BALANCE SHEET AS AT 30 JUNE 2024

2024 2023
Note £ £ £ £
FIXED ASSETS
Tangible assets 8 1,727,200 1,851,029
Investments 9 15,201 15,201
1,742,401 1,866,230
CURRENT ASSETS
Debtors 10 115,866 108,186
Cash at bank and in hand 289,558 243,003
405,424 351,189
CREDITORS:amounts falling due within
one year 11 (67,526) (48,265)
NET CURRENT ASSETS 337,898 302,924
NET ASSETS 2,080,299 2,169,154
CHARITY FUNDS
Unrestricted funds 13 2,080,299 2,169,154
TOTAL FUNDS 2,080,299 2,169,154

The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the charity to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on signed on their behalf, by:

27 Jun 2025

and

Jonathan Moxon (Jun 27, 2025, 1:48pm)

Mr J D Moxon

Trustee

The notes on pages 8 to 18 form part of these financial statements.

Page 7

COBHAM RUGBY & SPORTS ASSOCIATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

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 2024

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 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 2024

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 2024

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 2024

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
Bank interest income
Total donations and legacies
Total 2023
ACTIVITIES FOR GENERATING FUNDS
Rent and section fees
Net income from activities for generating funds		 Unrestricted
funds
2024
£
28,500
10,192
6,237
44,929
44,887		 Total
funds
2024
£
28,500
10,192
6,237
44,929
44,887
Unrestricted
funds
2024
£
222,462
222,462		 Total
funds
2023
£
35,000
9,468
419
44,887
Total
funds
2023
£
199,917
199,917

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 2024 accounts include rental income of circa £80,000 (2023 - £60,000) 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 2024

4. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Direct costs
Charitable activities - see below
Depreciation charges
Total 2023
CHARITABLE ACTIVITIES
Clubhouse overhead expenditure
Bank charges and loan interest
Total
SUPPORT COSTS
Support costs		 Unrestricted
funds
2024
£
81,222
31,210
168,060
280,492
258,179


 Unrestricted
funds
2024
£
81,222
31,210
168,060
280,492
258,179


 Total
funds
2024
£
81,222
31,210
168,060
280,492
258,179
2024
£
31,093
117

31,210
Unrestricted
funds
2024
£
75,754		 Total
funds
2023
£
85,129
42,548
130,502
258,179
2023
£
41,111
1,437
42,548
Total
funds
2023
£
72,409

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 £3,350 (2023 - £3,040).

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.

7. STAFF COSTS

The charity has no employees other than the Trustees, who did not receive any remuneration (2023 - £NIL).

No employee received remuneration amounting to more than £60,000 in either year.

Page 13

COBHAM RUGBY & SPORTS ASSOCIATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

8. TANGIBLE FIXED ASSETS

Club operating
capital projects
£
COST
At 1 July 2023
53,360
Additions
-
At 30 June 2024
53,360
DEPRECIATION
At 1 July 2023
52,849
Charge for the year
197
At 30 June 2024
53,046
NET BOOK VALUE
At 30 June 2024
314
At 30 June 2023
511
COST
At 1 July 2023
Additions
At 30 June 2024
DEPRECIATION
At 1 July 2023
Charge for the year
At 30 June 2024
NET BOOK VALUE
At 30 June 2024
At 30 June 2023		 Artificial Grass
Pitch
£
661,931
-
661,931
219,813
93,650
313,463
348,468
442,118
Roadways
parking
compound
£
156,181
-
156,181
33,433
3,905
37,338
118,843
122,748		 Tennis, netball
courts and
grounds
equipment
£
103,106
-
103,106
75,325
4,970
80,295
22,811
27,781
Memorial pitch
and irrigation
£
241,897
-
241,897
76,688
8,055
84,743
157,154
165,209		 Clubhouse
£
1,455,955
44,231
1,500,186
529,759
48,821
578,580
921,606
926,196
Fairmile
Grounds
£
254,115
-
254,115
92,312
8,462
100,774
153,341
161,803		 Freehold land
£
4,663
-
4,663
-
-
-
4,663
4,663
Total
£
2,931,208
44,231
2,975,439
1,080,179
168,060
1,248,239
1,727,200
1,851,029

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 14

COBHAM RUGBY & SPORTS ASSOCIATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

9. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Shares in group
undertakings
£
MARKET VALUE
At 1 July 2023 and 30 June 2024 15,201

SUBSIDIARY UNDERTAKINGS

The following were subsidiary undertakings of the company:

2024
 2023
Name Holding
 £
 £
CSA Trading Ltd Company Number 07103770 100% 100 100
Cobham Rugby Football Club Ltd Company Number
07103821 100% 100 100
Cobham Didi Rugby Limited Company Number
11925938 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
10.
DEBTORS
Amounts owed by Cobham Rugby Football Club Ltd
Prepayments and accrued Income
Amounts owed by Cobham Didi Rugby Ltd
Amounts owed by CSA Trading Ltd		 2024
£
57,366
6,250
52,250
-
115,866		 2023
£
33,866
8,415
52,250
13,655
108,186

Amounts due from group undertakings are interest free and repayable on demand.

Page 15

COBHAM RUGBY & SPORTS ASSOCIATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Taxation and social security
Amounts owed to CSA Trading Ltd
Accruals and deferred income
12.
BASIC FINANCIAL INSTRUMENTS
Financial assets /liabilities measured at fair value through net
income/expenditure include the following:
Cash in hand and bank
Other - assets
Liabilities

Total		 2024
£
10,429
12,398
44,699
67,526
2024
£
289,558
109,616
(67,526)


331,648		 2023
£
1,179
-
47,086
48,265
2023
£
243,003
99,771
(48,265)

294,509

Page 16

COBHAM RUGBY & SPORTS ASSOCIATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

13. 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 2023
£
50,391
50,000
115,000
215,391
1,953,763
2,169,154
2,169,154

Balance at
1 July 2022
£
53,728
45,000
85,000
183,728
2,254,938		 Income
£
-
-
-
-
267,391
267,391
267,391
Income
£
-
-
-
-
244,804		 Expenditure
£
(44,231)
-
-
(44,231)
(312,015)
(356,246)
(356,246)
Expenditure
£
-
-
-
-
(330,588)		 Transfers
in/(out)
Balance at 30
June 2024
£
£
-
6,160
5,000
55,000
60,000
175,000
65,000
236,160
(65,000)
1,844,139
-
2,080,299
-
2,080,299
Transfers
in/(out)
Balance at 30
June 2023
£
£
(3,337)
50,391
5,000
50,000
30,000
115,000
31,663
215,391
-
2,169,154

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 £44,231 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 2024 the trustees agreed to set aside an additional £5,000 (2023: £5,000) 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 2024 the trustees agreed to set aside an additional £60,000 (2023: £30,000) for this purpose. The total anticipated expenditure is estimated at £240,000 in 2027.

Page 17

COBHAM RUGBY & SPORTS ASSOCIATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

Restricted funds

There are no restricted funds held at 30 June 2024 (2023 £Nil).

14. 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 and expires in April 2025.

15. OPERATING LEASE COMMITMENTS

At 30 June 2024 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
2024
2023
£
£
25,000
25,000
100,000
100,000
300,000
325,000
425,000
450,000		 Other
2024
2023
£
£
-
-
-
-
-
-
-
-		 Other
2024
2023
£
£
-
-
-
-
-
-
-
-
-

Rents payable under operating leases are subject to periodic rent review. Lease payments recognised as an expense during the year were £25,000 (2023 - £25,000).

16. RELATED PARTY TRANSACTIONS

There were no related party transactions that require disclosure. The charity has taken the exemption under FRS102 Section 33.1A not to disclose transactions with other members of the group on the basis they are wholly owned by the parent company.

17. CONTROLLING PARTY

The charity is controlled by its Committee. There is no ultimate controlling party.

Page 18