Registered Charity Number 1133589
The Dan Maskell Tennis Trust
Annual Report & Financial Statements for the year ended 31[st] December 2021
President: Elaine Paige, OBE
Chairman: Sue Wolstenholme, OBE Executive Director: Gilly English
The Dan Maskell Tennis Trust – Report and Financial Statements for the year ended 31[st] December 2021
Annual Report & Financial Statements for the year ended 31[st] December 2021
Index
| Page(s) | |
|---|---|
| Trustees’ Annual Report | 3 - 6 |
| Independent Examiner’s Report | 7 |
| Statement of Financial Activities | |
| (including Income and Expenditure Account) | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 - 11 |
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The Dan Maskell Tennis Trust – Report and Financial Statements for the year ended 31[st] December 2021 Registered Charity Number 1133589
Trustees’ Annual Report
for the year ended 31[st] December 2021
Business Review
The Board of Trustees of The Dan Maskell Tennis Trust (“the Trust”) submits its report, together with the independently examined financial statements, for the year ended 31[st] December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the organisation’s governing document, applicable law and the requirements of the Statement of Recommended Practice, “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).
Structure, governance and management
The Dan Maskell Tennis Trust is a Registered Charity, Number 1133589, created by a deed of trust with charitable status granted in January 2010. Its principal office is c/o Sport Wins, PO Box 238, Tadworth, Surrey, KT20 5WT.
The governing body of the charity are the Trustees who meet at least three times a year (four times in the year under review). The Board elects the Chairman and all Trustees give their time on a voluntary basis.
New Trustees are made familiar with their legal obligations under charity law, the committee and decision making process and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Trustees are appointed by existing Trustees, having regard to the skills, knowledge and experience needed for the effective administration of the charity.
Board members who served during the year and to the date of this Report were:
Miss Sue Wolstenholme OBE Chairman - reappointed 3[rd] November 2020 for three years wef 1[st] January 2021 Mrs Robin Charlton reappointed 3[rd] November 2020 for three years wef 1[st] January 2021 Mrs Lesley Cundy appointed 28th January 2020 for three years ending 31st December 2022 Mrs Lilas Davison reappointed 28th November 2018 for three years wef 1st January 2019 Mr John James OBE Mr Robert McCowen reappointed 3[rd] November 2020 for three years wef 1[st] January 2021 Mr Noel McShane Mr Ian Peacock OBE Mr Geraint Richards reappointed 3[rd] November 2020 for three years wef 1[st] January 2021
Day to day management is delegated to Ms Gilly English, Executive Director, who works closely with the Chairman, Miss Sue Wolstenholme. A second part-time assistant, Liz Terry, was taken on to assist with digital marketing and profile joining Lorna Flower who assists with the administration of grants.
The Trust worked closely with The Lawn Tennis Association in liaising on grant applications and supporting the LTA’s disability programmes where appropriate.
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The Dan Maskell Tennis Trust – Report and Financial Statements for the year ended 31[st] December 2021
Trustees’ Annual Report
for the year ended 31[st] December 2021 (continued)
Objects, Activities and Achievements
The objects of the charity, as approved by the Charity Commission, are to promote physical health, fitness and general wellbeing of people with disabilities, through the sport of tennis. The trust uses its funds for the benefit of disabled people who wish to play tennis by grant aiding individuals and groups from, primarily but not exclusively, four main areas of disability –
Mobility impaired (wheelchair users) Hearing impaired Blind and partially sighted Those with an intellectual disability
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting policies for the year.
The Trust provides criteria and guidance notes for applications for grant aid including maximum grants available for groups and individuals. There is a set specification for tennis wheelchairs and the amount of contribution required towards the cost of the chairs.
The Trustees met four times in the year under review to consider and approve 129 (2020, 108) grant applications as follows:
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28 (2020, 27) individual tennis wheelchairs 4 (2020, 3) re tennis wheelchairs for separate groups (2021, 10 chairs; 2020 7 chairs)
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21 (2020 16) tennis equipment bags
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34 (2020, 35) monetary grants for various individuals
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42 (2020 27) monetary grants for various groups.
The monetary grants include help for groups, including disability organisations and special schools, and individuals seeking coaching, court hire, rackets and wheelchair refurbishment; coaching qualifications; for those who are mobility, hearing or visually impaired and those with a learning disability.
Due to the continuing effects of COVID 19 pandemic and lockdown restrictions during 2021, the annual fundraising event – the Golf Day and disability events planned such as the Recreational Wheelchair Doubles Event were cancelled for the second year. However, online fundraising including a Virtual Golf Tournament were held in lieu.
Other fundraising events run to support the Trust by clubs and individuals did not take place.
Professional Advisers:
Bank: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent, ME19 4JQ
Independent Examiner: Investment Advisers: Barbara Gabriel Quilter Cheviot Limited 156 Clarence Avenue, Senator House, New Malden, 85 Queen Victoria Street, Surrey London, KT3 3DY EC4V 4AB
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The Dan Maskell Tennis Trust – Report and Financial Statements for the year ended 31[st] December 2021
Trustees’ Annual Report
for the year ended 31[st] December 2021 (continued)
Financial Review and Reserves Policy
The charity’s principal sources of funds come from donations, the largest of these in 2021 coming from the Wimbledon Foundation, despite the lack of the resale of tickets during the Wimbledon Championships for a second year from which the donation comes, but with matching funding from HSBC, the Foundation was able to revert to its previous level of support. With the cancellation of the Celebrity Golf Challenge, alternative fundraising was created via a Virtual Golf Tournament and online appeal and donations from regular supporters were maintained.
The Trust’s expenditure during the year has supported the key objectives of the charity through the administration of its grant aid programme and raising its profile.
As can be seen from the Financial Statements, the Trust had a healthy balance on reserves ~~.~~ The Trustees’ Reserve Policy is to retain two years of operating costs in reserve to ensure that the work of the charity may continue with sufficient additional monies to cover its grant aid programme at its current level in the case of any shortfall or loss of funds as identified in the risk register. The Trustees have considered the level of reserves, taking into account the above and the following:
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The continued development of disability tennis at grass roots level which contributes to the number of grant applications for funding and individual wheelchairs awarded by the Trust;
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The interest in disability sport in general and tennis, particularly wheelchair tennis, following increased media coverage.
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The number of applications being received, which increased in the current year 129 (2020, 108). This despite the on-going effects of the COVID 19 pandemic which curtailed activity.
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An intention to continue the Recreational Wheelchair Doubles Invitation event and support for a Junior Wheelchair Team Competition when these are reintroduced.
Taking all of the above into consideration, the Trustees consider that the level of free reserves at 31[st] December 2021 of £577,488 is in line with its policy on reserves, although it will continue to keep this matter under review as the current year progresses.
Investment Policy and Performance
The charity’s investment policy is cautious and aims to maximise reserves over a time horizon of seven to ten years to further its charitable objects. All investments of the Trust since 1[st] January 2011 have been made in accordance with the powers available to the Trustees. Reports are received quarterly from Quilter Cheviot, Investment Managers, and the trustees are satisfied that the movements in the value of the portfolio in the years to 31[st] December 2021 and 2020 reflect the general changes in the various UK and worldwide asset classes in which the charity holds investments. The portfolio can also be accessed at any time via on online portal.
Risk Management
The Trustees have examined the major strategic, business and operational risks which the charitable company faces, and confirm that systems have been established to mitigate such risks.
Indemnity Insurance
Insurance policies have been secured in respect of public liability, professional indemnity and Directors’ and Officers’ liability.
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The Dan Maskell Tennis Trust – Report and Financial Statements for the year ended 31[st] December 2021 Trustees’ Annual Report for the year ended 31[st] December 2021 (continued)
Trustees’ Responsibilities in respect of the Financial Statements
The Trustees of The Dan Maskell Tennis Trust are required to prepare accounts as at the end of the financial year and of the surplus or deficit and total recognised gains and losses for the year. The Trustees confirm that suitable accounting policies, consistently applied and supported by reasonable and prudent judgements and estimates, have been used in the preparation of the financial statements. Applicable accounting standards have been followed, and the financial statements have been prepared in accordance with the requirements of the Statement of Recommended Practice, “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).
The Trustees are also required to maintain adequate accounting records, and are responsible for taking reasonable steps to safeguard the charity’s assets and to prevent and detect fraud and other irregularities.
Review of Transactions and Financial Position
Sufficient funds were raised to operate the Trust’s various activities and enable it to carry forward its work at the level of activity anticipated by the Trustees.
At 31[st] December 2021, and at the time of writing, the charity’s financial position was satisfactory.
Assets on Hand at 31[st] December 2021
The charity’s assets are held to enable it to continue with its established activities and to respond to any need which might be identified in the future, and are considered to be adequate to meet all foreseen obligations.
Principal Office:
c/o Sport Wins PO Box 238 Tadworth Surrey KT20 5WT
Susan E. Wolstenholme
Sue Wolstenholme OBE , Chairman Dated: 19[th] July 2022
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The Dan Maskell Tennis Trust – Report and Financial Statements for the year ended 31[st] December 2021
Independent Examiner’s Report
to the Trustees of The Dan Maskell Tennis Trust
I report on the Accounts of the company for the year ending 31[st] December 2021, which are set out on pages 8 to 11.
Respective responsibilities of Trustees and Examiner
As the charity’s trustees, you are responsible for the preparation of the accounts; you consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (“the Act”)) and that an independent examination is needed.
It is my responsibility to:
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examine the Accounts under section 43 of the Act;
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follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act); and
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state whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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i) to keep accounting records in accordance with section 41 of the Act; and
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ii) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of Act;
have not been met; or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Barbara Gabriel
Barbara Gabriel
156 Clarence Avenue, New Malden Surrey KT3 3DY
Dated: 19[th] July 2022
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The Dan Maskell Tennis Trust – Report and Financial Statements for the year ended 31[st] December 2021
Statement of Financial Activities (including Income & Expenditure Account)
for the year ended 31[st] December 2021
Notes Income and endowments from - Donations and legacies 1.2 Charitable activities Investments Total Income and endowments Expenditure on - Fund Raising Events Charitable activities 5 Total Expenditure Net expenditure before gains on investments 3 Realised Profit on Sale of Investments Unrealised gains / (losses) on investments Net income and movement in funds Total funds brought forward Total funds carried forward |
2021 2020 £ £ 57,085 88,051 12,799 450 11,042 11,700 80,926 100,201 (850) (250) (118,618) (117,479) (119,468) (117,729) (38,542) (17,528) 40,542 12,089 16,137 (12,916) 18,137 (18,355) 559,351 577,706 £577,488 £559,351 |
|---|---|
All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above. All funds for the year ended 31[st] December 2021 were unrestricted. The notes on pages 10 to 11 form part of these financial statements.
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The Dan Maskell Tennis Trust – Report and Financial Statements for the year ended 31[st] December 2021
Balance Sheet
as at 31 December
| Note Current assets Stocks Debtors 6 Investments 1.7, 4 Cash at bank and in hand Total current assets Liabilities Creditors, falling due within one year 7 Net current assets Net assets 9 The funds of the charity - Unrestricted funds 8, 9 |
2021 £ 2020 £ 1,150 1,650 4,672 4,480 479,316 475,725 187,682 156,924 672,820 638,779 (95,332) (79,428) 577,488 559,351 577,488 559,351 £577,488 £559,351 |
|---|---|
Approved by the Trustees and authorised for issue on 19[th] July 2022
Susan E. Wolstenholme
Robert McCowen
Sue Wolstenholme OBE , Chairman
Robert McCowen , Trustee
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The Dan Maskell Tennis Trust – Report and Financial Statements for the year ended 31[st] December 2021
Notes to the Financial Statements for the year ending 31[st] December 2021
1. 1 Basis of Preparation
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 (FRS 102). Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
Under FRS 102, the Charity is exempt from the requirement to prepare a cash flow statement on the grounds of its size.
1.2 Accounting Policies
The principal accounting policies used in the preparation of the financial statements are as follows:
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Income from donations and legacies is credited when the legal right to the amounts involved becomes enforceable. Related Income Tax recoveries are included within income from donations and legacies.
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Grants are recorded as liabilities on approval of the grant by the Board of Trustees and its communication to the recipient.
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Expenditure is recorded on an accruals basis, and includes VAT, which cannot be recovered. The value of services supplied by volunteers has not been included.
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1.3 Unrestricted funds are donations and other incoming resources receivable or generated for the objectives of the Trust without further specified purpose and are available as general funds.
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1.4 Restricted funds are to be used for specific purposes imposed by the donors or for the particular purposes for which they were raised.
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1.5 Costs of Executive Director. The work of the Executive Director is directed towards both raising funds and the charitable activities of the charity. Within the Statement of Financial Activities, costs of the Executive Director are included under the heading “Charitable Activities”.
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1.6 Stocks are recorded at lower of cost and market value.
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1.7 Investments are reported in the Balance Sheet at their market value, with changes in value (whether realised or unrealised) being reflected in the Statement of Financial Activities.
2. Staff Numbers. The charity has no employees.
3. Taxation. The charitable company is exempt from Corporation Tax on its charitable activities
4. Investments
| Market value at 1stJanuary Income retained Movement on accrued income Management Fees paid to Quilter Cheviot Realised profit on sales of investments Transfer to bank account Unrealised profit / (loss) for the year on investments Market Value at 31stDecember |
2020 £ 475,725 40 499,465 (299) (122) (2,829) (2,791) 40,542 12,089 (50,000) (20,000) 16,137 (12,916) £479,316 £475,725 |
|---|---|
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The Dan Maskell Tennis Trust – Report and Financial Statements for the year ended 31[st] December 2021
Notes to the Financial Statements
for the year ending 31[st] December 2021 (continued)
5. Expenditure on Charitable activities
| Grants to individuals and groups Costs of executive director Fundraising and administration support PR and publicity Website development and digital marketing Fees of Quilter Cheviot (Investment Advisers) Membership fees and subscriptions Insurance Independent accountant examination fees General administrative expenses Total Expenditure on Charitable activities 6. Debtors Sundry debtors Total Debtors 7. Creditors falling due within one year Grants authorised but not yet paid Other creditors Total Creditors |
2021 £ 2020 £ 69,171 75,181 26,000 26,000 11,456 7,256 1,896 477 1,103 2,829 2,791 816 1,051 346 346 300 300 4,701 4,077 £118,618 £117,479 2021 £ 2020 £ 4,672 4,480 £4,672 £4,480 2021 £ 2020 £ 93,693 78,128 1,639 1,300 £95,332 £79,428 |
|---|---|
8. Movement in Funds
There were no designated funds during the year, and all movements in the Unrestricted Funds are shown in the Statement of Financial Activities.
9. Allocation of Net Assets between Funds
| Unrestricted | Unrestricted | |
|---|---|---|
| Funds | Funds | |
| 2021 | 2020 | |
| £ | £ | |
| Investments | 479,316 | 475,725 |
| Balance at bank and cash | 187,682 | 156,924 |
| Debtors | 4,672 | 4,480 |
| Stock | 1,150 | 1,650 |
| Creditors | (95,332) | (79,428) |
| £577,488) | £559,351 |
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