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2023-07-31-accounts

The Rugby Fives Association (A company limited by guarantee)

Report and Financial Statements For the Year Ended 31 July 2023

Charity number 1136872 Company number 04837244

The Rugby Fives Association

(A company limited by guarantee)

Financial Statements For the Year Ended 31 July 2023

Contents Page
Legal and Administrative Information 3
Trustees’ Report 4 - 5
Independent Examiner’s Report 6
Statement of Financial Activities 7
Balance Sheet 8 - 9
Notes forming part of the financial statements 10 - 20

2

The Rugby Fives Association Legal and Administrative Information

Reference and Administrative Information

Charity Name: The Rugby Fives Association (RFA) Charity registration number: 1136872 Company registration number: 04837244 Registered Office and operational address: 506 Blazer Court 28a St John’s Wood Road London NW8 7JY

Board of Directors/Trustees

J E McIntyre President A S Passey (appointed 20 December 2022) C R Blakeley C G Brooks N H Buchanan D Butler S J Kirby L M Mathias D S Parlby M J R Shaw (resigned 20 December 2022) A D B Smith J A D Tilston Treasurer D C Tristao Secretary

C R Blakeley Independent Examiner

P de Winton FCA

3

The Rugby Fives Association Trustees’ Report for the year ended 31 July 2023

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2023. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Rugby Fives Association was set up to promote community participation in the sport of Rugby Fives and such other amateur sports as the trustees shall determine by providing or assisting in the provision of facilities for the playing of Rugby Fives (facilities means land, buildings, equipment and organising sporting activities).

The charity also aims to advance physical education of young persons by assisting in the provision of facilities for the playing and learning of Rugby Fives in schools and universities.

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year, the RFA continued to support the playing of Rugby Fives at schools and clubs. The Trustees have developed and are implementing a strategy aimed at sustaining, nurturing and growing the game of Rugby Fives.

The RFA issued grants totalling £4,415 (2022 - £6,893) in the current year in respect of the subsidising of training and equipment. Further details of the grants issued are set out in note 8 to the accounts.

FINANCIAL REVIEW

Financial position

The Statement of Financial Activities on page 7 shows total incoming resources of £45,793 (2022 - £67,902) and net outgoing resources of £25,317 (2022 - £29,691) for the year.

The main drivers for the reduction in income compared to the prior year include a reduction in the value of oneoff donations to £10,119 (2022 - £22,622), contributions to the RFA’s Patronage Scheme which generated £3,365 (2022 - £5,295), and the reduction in one-off income from the RFA Dinner held in 2022 of £Nil (2022 - £5,987).

Reserves Policy

Unrestricted funds stand at £97,077 (2022 - £77,174) which are held to cover future outgoings and provide resources for future grants for court building and coaching.

4

The Rugby Fives Association Trustees’ Report - continued for the year ended 31 July 2023

Reserves Policy - continued

Restricted funds stand at £14,895 (2022 - £14,323) which are held to cover future outgoings and provide resources for future grants for court building and coaching.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is constituted as a company limited by guarantee, incorporated on 18 July 2003 and registered as a charity on 14 July 2010. The company was established under a Memorandum of Association, as amended by special resolution on 16 June 2010, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and Appointment of New Trustees

The charity’s board has the power to appoint any persons to be a trustee of the charity. Trustees appointed during the year and new trustees are ratified at the Annual General Meeting.

Organisational structure

The board of Trustees oversees the operation of the charity, assisted by a small number of volunteers.

Financial risk management objectives and policies

The Trustees review the finances and associated risks at each trustees’ meeting.

Trustees and Directors

The Trustees and the Directors are the group of people charged with the governance of the charity. During the year no Trustee or Director had any significant financial interest in the charity.

The details of all benefits and expenses reclaimed from the charity by the board of Trustees are set out in note 5 to the accounts.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of Trustees on 21 September 2023 and signed on its behalf by:

J A D Tilston Treasurer

5

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The Rugby Fives Association Statement of Financial Activities (Including Summary Income and Expenditure Account) for the year ended 31 July 2023

Notes
INCOME
Income and endowments from:
Donations and legacies
3
Charitable activities
3
Other trading activities
3
Investments
3
Other
3
Total
EXPENDITURE
Expenditure on:
Raising funds
4
Charitable activities
4
Other
4
Total
NET INCOME/(EXPENDITURE)
BEFORE TAX
Tax payable
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
funds
£
33,899
7,136
1,665
633
50
43,383
400
23,030
50
23,480
19,903
-
19,903
-
19,903
77,174
97,077		 Restricted
funds
£
2,410
-
-
-
-
2,410
-
1,837
-
1,837
573
-
573
-
573
14,323
14,895		 2023
Total
funds
£
36,309
7,136
1,665
633
50
45,793
400
24,867
50
25,317
20,476
-
20,476
-
20,476
91,496
111,972		 2022
Total
funds
£
52,820
13,333
1,613
17
120
67,902
4,090
24,435
1,166
29,691
38,212
-
38,212
-
38,212
53,285
91,496

The notes form part of these financial statements

7

The Rugby Fives Association Balance Sheet 31 July 2023

Notes
FIXED ASSETS
Tangible assets
9
Total
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
Total
CREDITORS
Amounts falling due within one
year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
564
564
1,045
95,618
96,663
(149)
96,513
97,077
97,077
97,077
97,077		 Restricted
funds
£
-
-
-
14,895
14,895
-
14,895
14,895
14,895
14,895
14,895		 2023
Total
funds
£
564
564
1,045
110,513
111,558
(149)
111,408
111,972
111,972
97,077
14,895
111,972		 2022
Total
funds
£
728
728
732
90,488
91,220
(452)
90,768
91,496
91,496
77,173
14,323
91,496

The charitable company is entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The notes form part of these financial statements

8

The Rugby Fives Association Balance Sheet - continued 31 July 2023

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

The financial statements were approved by the Board of Trustees and authorised for issue on 21 September 2023 and were signed on its behalf by:

J A D Tilston Treasurer

9

The Rugby Fives Association Notes to the Financial Statements for the year ended 31 July 2023

1. BASIS OF PREPARATION

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006.

The charity constitutes a public benefit entity as defined by FRS 102.

Going concern

Regulatory requirements mean that the trustees are obliged to take into account all available information about the future, for at least, but not limited to, the period of 12 months from the date the accounts are approved. In accordance with these requirements, and taking into account the challenges of financial forecasting in the current circumstances, the Board is satisfied that reasonable financial assumptions have been incorporated in financial projections for the period subsequent to the year end and until July 2024. The Board considers that mitigating actions would be effective and sufficient to ensure the charity’s continued viability.

For these reasons and based on the assessment undertaken, the Board confirms it has a reasonable expectation that the charity will be able to continue in operation and meet its liabilities as they fall due over the period of the assessment to the end of July 2024.

2. ACCOUNTING POLICIES

Income

Income is included in the Statement of Financial Activities (SoFA) when:

Grants and donations are only included in the SoFA when the above general income recognition criteria are met.

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.

Membership subscriptions which give a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

10

The Rugby Fives Association Notes to the Financial Statements - continued for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Expenditure and Liabilities

Expenditure is included in the Statement of Financial Activities on an accrual basis, inclusive of VAT which cannot be recovered.

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.

Where there are no conditions attaching to the grant, a liability for the full funding obligation is recognised.

The charity has creditors which are measured at settlement amounts less any trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Laptop - straight line over 5 years

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

11

The Rugby Fives Association Notes to the Financial Statements - continued for the year ended 31 July 2023

3. INCOME

Analysis of income
Donations and legacies
Donations and gifts
Gift Aid
Membership subscriptions
equivalent to donations
Other
Total
Charitable activities
Tournament entry fees
RFA Dinner
Total
Other trading activities
Membership subscriptions as
payment for goods & services
Merchandise sales
Total
Income from investments
Interest income
Total
Other
Other income
Total
TOTAL INCOME		 Unrestricted
funds
£
13,683
2,139
17,220
858
33,899
7,136
-
7,136
1,570
95
1,665
633
633
50
50
43,383		 Restricted
funds
£
2,410
-
-
-
2,410
-
-
-
-
-
-
-
-
-
-
2,410		 2023
Total
funds
£
16,093
2,139
17,220
858
36,309
7,136
-
7,136
1,570
95
1,665
633
633
50
50
45,793		 2022
Total
funds
£
30,387
4,337
17,215
881
52,820
7,346
5,987
13,333
1,585
28
1,613
17
17
120
120
67,902

All income in the prior year was unrestricted except for £410 of donations made to the Courts Fund and £2,000 of donations made to the Jesters Fund.

12

The Rugby Fives Association Notes to the Financial Statements - continued for the year ended 31 July 2023

4. EXPENDITURE

Analysis of expenditure
Unrestricted
funds
£
Expenditure on raising funds
100 Club prize payments
400
Cost of RFA Dinner
-
Total
400
Expenditure on charitable activities
Charity management &
administration
5,883
Charity running costs
2,648
Grants issued
4,415
Tournament & trophy costs
9,099
Other running costs
985
Total
23,030
Other expenditure
Other expenditure
50
Total
50
TOTAL EXPENDITURE
23,480		 Restricted
funds
£
-
-
-
60
-
-
1,777
-
1,837
-
-
1,837		 2023
Total
funds
£
400
-
400
5,943
2,648
4,415
10,876
985
24,867
50
50
25,317		 2022
Total
funds
£
409
3,681
4,090
4,368
1,502
6,893
11,672
-
24,435
1,166
1,166
29,691

A breakdown of Charity management & administration costs is set out in the table below.

13

The Rugby Fives Association Notes to the Financial Statements - continued for the year ended 31 July 2023

4. EXPENDITURE - continued

Analysis of expenditure
Unrestricted
funds
£
Charity management & administration
Bank charges
55
Brochures and reviews
1,980
Depreciation
164
Development Officer costs
1,675
Direct debit charges
969
Secretarial costs
605
Software expenses
281
Trustee travel expenses
155
TOTAL EXPENDITURE
5,883		 Restricted
funds
£
60
-
-
-
-
-
-
-
60		 2023
Total
funds
£
115
1,980
164
1,675
969
605
281
155
5,943		 2022
Total
funds
£
70
478
90
-
854
2,512
261
102
4,368

5. TRUSTEES’ REMUNERATION AND BENEFITS

Remuneration totalling £605 (2022 - £2,512) was paid to the company secretary of the charity who is a director of the company.

Travel costs of £155 (2022 - £102) were also paid to the directors, who are also trustees.

No remuneration or other benefits of employment with the charity or a related entity were received by the trustees during the year.

6. FEES FOR EXAMINATION OF THE ACCOUNTS

No remuneration or other benefits were paid in respect of the independent examiner’s review of the accounts or in respect of any other examinations of the accounts.

14

The Rugby Fives Association Notes to the Financial Statements - continued for the year ended 31 July 2023

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
Total
EXPENDITURE
Expenditure on:
Raising funds
Charitable activities
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
50,410
13,333
1,613
17
120
65,492
4,090
19,082
666
23,838
41,654
35,519
77,174		 Restricted
funds
£
2,410
-
-
-
-
2,410
-
5,353
500
5,853
(3,443)
17,765
14,323		 2022
Total
funds
£
52,820
13,333
1,613
17
120
67,902
4,090
24,435
1,166
29,691
38,212
53,285
91,496

15

The Rugby Fives Association Notes to the Financial Statements - continued for the year ended 31 July 2023

8. GRANTMAKING

The RFA issued total grants of £4,415 in 2023 (2022 - £6,893). Details of the grants issued in the year are summarised below.

Institution
Purpose
Manchester YMCA
Subsidising of coaching
Stoke Newington School
Subsidising of coaching and equipment		 2023
Total
£
500
3,915
4,415

Details of the grants issued in the prior year are summarised below.

Institution
Purpose
Christ’s Hospital School
Conversion of squash court into Rugby Fives court
Mount Kelly (College)
Equipment
Stoke Newington School
Subsidising of coaching and equipment		 2022
Total
£
2,500
210
4,183
6,893

16

The Rugby Fives Association Notes to the Financial Statements - continued for the year ended 31 July 2023

9. TANGIBLE FIXED ASSETS

COST
At 1 August 2022
Additions
At 31 July 2023
DEPRECIATION
At 1 August 2022
Charge for year
At 31 July 2023
NET BOOK VALUE
At 31 July 2023
At 31 July 2022
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments and accrued income
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals and deferred income		 Laptop
£
818
-
818
90
164
254
564
728
2023
£
1,045
1,045
2023
£
149
149		 Total
£
818
-
818
90
164
254
564
728
2022
£
732
732
2022
£
452
452

17

The Rugby Fives Association Notes to the Financial Statements - continued for the year ended 31 July 2023

12. MOVEMENT IN FUNDS

Unrestricted funds
General fund
100 Club fund
President’s Cup fund
Restricted funds
Courts fund
Jesters fund
TOTAL FUNDS		 At 1.8.22
£
71,487
4,691
995
77,173
13,309
1,014
14,323
91,496		 Net
movement
in funds
£
20,055
422
(574)
19,903
350
223
573
20,476		 Transfers
between
funds
£
-
-
-
-
-
-
-
-		 At 31.7.23
£
91,543
5,113
(574)
97,076
13,659
1,237
14,896
111,972

Net movement in funds, included in the above, are as follows:

Unrestricted funds
General fund
100 Club fund
President’s Cup fund
Restricted funds
Courts fund
Jesters fund
TOTAL FUNDS		 Incoming
resources
£
42,461
822
100
43,383
410
2,000
2,410
45,793		 Resources
expended
£
(22,406)
(400)
(674)
(23,480)
(60)
(1,777)
(1,837)
(25,317)		 Gains and
losses
£
-
-
-
-
-
-
-
-		 Movement
in funds
£
20,055
422
(574)
19,903
350
223
573
20,476

18

The Rugby Fives Association Notes to the Financial Statements - continued for the year ended 31 July 2023

12. MOVEMENT IN FUNDS – continued

Comparatives for movement in funds

Unrestricted funds
General fund
100 Club fund
President’s Cup fund
Restricted funds
Courts fund
Jesters fund
Young RFA fund
TOTAL FUNDS		 At 1.8.21
£
31,225
4,294
-
35,519
15,429
1,337
1,000
17,765
53,285		 Net
movement
in funds
£
40,261
397
995
41,653
(2,120)
(1,323)
-
(3,443)
38,212		 Transfers
between
funds
£
-
-
-
-
-
1,000
(1,000)
-
-		 At 31.7.22
£
71,487
4,691
995
77,173
13,309
1,014
-
14,323
91,496

Comparative net movement in funds, included in the above, are as follows:

Unrestricted funds
General fund
100 Club fund
President’s Cup fund
Restricted funds
Courts fund
Jesters fund
Young RFA fund
TOTAL FUNDS		 Incoming
resources
£
63,691
806
995
65,492
410
2,000
-
2,410
67,902		 Resources
expended
£
(23,429)
(409)
-
(23,838)
(2,530)
(3,323)
-
(5,853)
(29,691)		 Gains and
losses
£
-
-
-
-
-
1,000
(1,000)
-
-		 Movement
in funds
£
40,262
397
995
41,654
(2,120)
(1,323)
-
(3,443)
38,212

19

The Rugby Fives Association Notes to the Financial Statements - continued for the year ended 31 July 2023

12. MOVEMENT IN FUNDS – continued

Purpose of fund

Fund Type Purpose
General fund Unrestricted The RFA’s general trading fund
100 Club fund Unrestricted Management of funds raised through the 100 Club scheme
President’s Cup fund Unrestricted Management of funds donated for the purpose of the repair,
renovation or replacement of trophies
Courts fund Restricted Management of funds donated for the purpose of repair,
renovation or construction of Fives Courts
Jesters fund Restricted Management of funds donated by the Jesters Club, used for
the purpose of subsidising student travel and accommodation
at Fives tournaments

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2023.

14. COMPANY LIMITED BY GUARANTEE

The company has no share capital but it is a charitable company limited by guarantee. At 31 July 2023 there were 448 (2022 – 424) individual members, 33 (2022 – 32) school members and 26 (2022 – 21) club members, each of whose liability is limited to £1.

20