REGISTERED COMPANY NUMBER: 06947859 (England and Wales) REGISTERED CHARITY NUMBER: 1140010
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
FOR
THE CHERITON ROAD SPORTS GROUND TRUST (A COMPANY LIMITED BY GUARANTEE)
McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL
THE CHERITON ROAD SPORTS GROUND TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 16 |
| Detailed Statement of Financial Activities | 17 |
THE CHERITON ROAD SPORTS GROUND TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2021
TRUSTEES J Godden (resigned 1.1.22) B Geddes S Shaw N M Bristow A J Fernandes S W Ireland R Burke (appointed 20.8.20) T H Eke (appointed 20.8.20) B Davis (appointed 20.8.20) J A Douse (appointed 1.1.22) REGISTERED OFFICE Castle House Castle Hill Avenue FOLKESTONE Kent CT20 2TQ REGISTERED COMPANY 06947859 (England and Wales) NUMBER REGISTERED CHARITY 1140010 NUMBER INDEPENDENT EXAMINER McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL
Page 1
THE CHERITON ROAD SPORTS GROUND TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2021. 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
The charitable company's objects are:
a) the promotion of community participation in healthy recreation in particular by the provision of facilities for the playing of cricket, hockey, netball, football and athletics;
b) to promote for the benefit of the inhabitants of Folkestone and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.
In determining the charitable company's objectives and aims, the trustees have had due regard to the Charity Commission's guidance on public benefit.
Significant activities
The facility has continued to be managed by CRSGT through the operating company Three Hills Sports Park (formerly known as Shepway Leisure). Three Hills Sports Park (with Directors from Folkestone Optimist Hockey Club, Folkestone Cricket Club, Shepway Sports Trust and Folkestone Running Club) formed in June 2016 and during the current year has continued to improve efficiency of operations and expand the business. The terms of the agreement with Three Hills Sports Park remain aligned to the charitable company's objectives. CRSGT trustees hold monthly operations meetings with the Three Hills site manager and team, to review and support current operations and ensure we continue to provide excellent service levels at Three Hills Sports Park, complying with health, safety and environmental legislation and all licence conditions.
Usage of the external sports surfaces has recovered well from the COVID-19 pandemic with a continued wide range of ages, sports and community groups using the facility, and the number of sports accommodated at the facility continues to increase.
CRSGT has continued to replace inefficient fluorescent tube lighting with LEDs across the site, to improve lighting standards, financial savings and produced a significant CO2 reduction.
Catering and bar usage has understandably been significantly affected by restrictions imposed during the COVID-19 pandemic but has started to recover well.
Three Hills Sports Park have completed their annual programme of inspection and maintenance of our assets, completing repairs and replacing assets as required.
CRSGT has continued to work with The Roger De Haan Charitable Trust (RDHCT) on a proposal from Folkestone Running Club to construct an enclosed athletics track, adjacent to the current site. The planning application was approved on 25th February 2020. RDHCT approved and awarded a grant of £933,870 to CRSGT on 10th June 2020 to fund the construction and fitting-out of an eight lane athletics facility to CRSGT. Construction during this financial year has been hampered by required planning amendments - these have now been addressed allowing construction to continue.
FINANCIAL REVIEW
Financial position
The development of the Cheriton Road Sports Ground has been funded by restricted donations.
At the year end the charitable company had total reserves of £5,334,274 (2020 - £5,403,818) of which £4,978,253 (2020 - £5,077,815) were restricted funds. Unrestricted income reserves amounted to £326,003 (2020 - £326,003).
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THE CHERITON ROAD SPORTS GROUND TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021
FINANCIAL REVIEW
Reserves policy
In accordance with good practice, the trustees have adopted a reserves policy that the unrestricted reserves are sufficient to cover the charitable company's expenses for a period of, approximately, six months. The trustees consider that the balance held in unrestricted reserves is sufficient to meet the expenses of the charitable company over the next six months.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a memorandum and articles of association dated 30 June 2009 as amended by special resolutions dated 15 April 2010, 16 January 2011 and 25 June 2020, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
There shall be at least nine trustees of which three shall be ordinary members of the Folkestone Optimist Hockey Club, three shall be ordinary members of the Folkestone Cricket Club and three shall be ordinary members of Folkestone Running Club. At any time the number of trustees representing each club shall be equal. Applications for membership are considered by the trustees.
Risk management
The trustees have a duty to identify and review the risks to which the charitable company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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 24 March 2022 and signed on its behalf by:
B Geddes - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHERITON ROAD SPORTS GROUND TRUST
Independent examiner's report to the trustees of The Cheriton Road Sports Ground Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
I D Pascall FCA Institute of Chartered Accountants in England and Wales McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL
28 March 2022
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THE CHERITON ROAD SPORTS GROUND TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3 Charitable activities 5 Development of Cheriton Road Sports Ground Investment income 4 Total EXPENDITURE ON Charitable activities Development of Cheriton Road Sports Ground Governance costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 50,929 - 25,209 76,138 42,695 3,425 46,120 30,018 326,003 356,021 |
Restricted funds £ 3,925 152,677 - 156,602 256,164 - 256,164 (99,562) 5,077,815 4,978,253 |
2021 Total funds £ 54,854 152,677 25,209 232,740 298,859 3,425 302,284 (69,544) 5,403,818 5,334,274 |
2020 Total funds £ 65,002 21,368 35,521 121,891 283,023 3,325 286,348 (164,457) 5,568,275 5,403,818 |
|---|---|---|---|---|
The notes form part of these financial statements
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THE CHERITON ROAD SPORTS GROUND TRUST
BALANCE SHEET 30 JUNE 2021
| Notes FIXED ASSETS Tangible assets 11 Investments 12 CURRENT ASSETS Debtors 13 Cash at bank and in hand CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
2021 £ 5,155,307 1 5,155,308 198,921 25,087 224,008 (45,042) 178,966 5,334,274 5,334,274 356,021 4,978,253 5,334,274 |
2020 £ 5,226,593 1 5,226,594 126,199 68,743 194,942 (17,718) 177,224 5,403,818 5,403,818 326,003 5,077,815 5,403,818 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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THE CHERITON ROAD SPORTS GROUND TRUST
BALANCE SHEET - continued 30 JUNE 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 24 March 2022 and were signed on its behalf by:
B Geddes - Trustee
The notes form part of these financial statements
Page 7
THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
1. STATUTORY INFORMATION
The Cheriton Road Sports Ground Trust is an incorporated charitable company, limited by guarantee, registered in England and Wales.
The company's principal place of business is The Three Hills Sports Park, Cheriton Road, Folkestone, Kent, CT19 5JU.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention
The financial statements are prepared in sterling which is the functional currency of the company.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Goods and services donated to the charitable company are only recognised when they are material to the financial statements, otherwise the trustees do not consider it practical to value these goods and services.
Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs is recognised in income in the period in which it becomes receivable.
Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
The long leasehold property comprises expenditure on a pavilion and sports hall together with artificial pitches and cricket pitches. Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Pavilion and sports hall - At 2% per annum on cost Artificial pitches - At between 4% and 10% per annum on cost Cricket pitches - At 20% per annum on cost The plant, machinery and equipment - At 10% per annum on cost Furniture, fittings and equipment - At 10% per annum on cost Storage building - At 10% per annum on cost
continued...
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THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
No depreciation is provided on costs so far incurred in connection with the athletics track. Appropriate depreciation will be provided when the track is completed.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
3. DONATIONS AND LEGACIES
| Donations Government grants 4. INVESTMENT INCOME Rents receivable 5. INCOME FROM CHARITABLE ACTIVITIES Activity Development of Cheriton Road Sports Grants Ground 6. SUPPORT COSTS Governance costs: Accountancy fees Independent examiner's fee |
2021 £ 13,926 40,928 54,854 2021 £ 25,209 2021 £ 152,677 |
2020 £ 55,002 10,000 65,002 2020 £ 35,521 2020 £ 21,368 |
|
|---|---|---|---|
| 2021 £ 2,660 765 3,425 |
2020 £ 2,565 760 3,325 |
continued...
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THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Accountancy fees | 2,660 | 2,565 |
| Depreciation - owned assets | 251,860 | 245,253 |
| Independent examiner's fee | 765 | 760 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There was no trustees' remuneration for the year ended 30 June 2021 nor for the year ended 30 June 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.
9. EMPLOYEES AND DIRECTORS
The average number of employees during the year was 9 (2020 - 6).
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Development of Cheriton Road Sports Ground Investment income Total EXPENDITURE ON Charitable activities Development of Cheriton Road Sports Ground Governance costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 55,001 - 35,521 90,522 48,383 3,325 51,708 38,814 287,189 326,003 |
Restricted funds £ 10,001 21,368 - 31,369 234,640 - 234,640 (203,271) 5,281,086 5,077,815 |
Total funds £ 65,002 21,368 35,521 121,891 283,023 3,325 286,348 (164,457) 5,568,275 5,403,818 |
|---|---|---|---|
continued...
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THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
11. TANGIBLE FIXED ASSETS
| COST At 1 July 2020 Additions At 30 June 2021 DEPRECIATION At 1 July 2020 Charge for year At 30 June 2021 NET BOOK VALUE At 30 June 2021 At 30 June 2020 |
Long leasehold £ 6,790,792 144,363 6,935,155 1,691,899 204,537 1,896,436 5,038,719 5,098,893 |
Plant, machinery and equipment £ 434,921 36,211 471,132 309,105 47,113 356,218 114,914 125,816 |
Computer equipment £ 2,093 - 2,093 209 210 419 1,674 1,884 |
Totals £ 7,227,806 180,574 7,408,380 2,001,213 251,860 2,253,073 5,155,307 5,226,593 |
|---|---|---|---|---|
12. FIXED ASSET INVESTMENTS
| COST At 1 July 2020 and 30 June 2021 NET BOOK VALUE At 30 June 2021 At 30 June 2020 |
Shares in group undertakings £ 1 1 1 |
|---|---|
Investments in group undertakings are recognised at cost. Details of the investment are as follows:-
CRSGT (Trading) Limited - (REGISTERED NUMBER: 07810748)
Nature of business: Site management of the Three Hills Sports Park
| Nature of business: Site management of | the Three Hills Sports Park | |
|---|---|---|
| Class of share: | % holding |
|
| Ordinary | 100 | |
| 2021 | 2020 | |
| £ | £ | |
| Aggregate capital and reserves | (91,338) | (70,313) |
| (Loss)/Profit for the year | (21,025) | (15,547) |
continued...
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THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Amounts owed by subsidiary undertaking Other debtors Loan to Three Hills Sports Park VAT 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted fund funds £ £ Fixed assets 194,367 4,960,940 Investments 1 - Current assets 172,410 51,598 Current liabilities (10,757) (34,285) 356,021 4,978,253 16. MOVEMENT IN FUNDS At 1.7.20 £ Unrestricted funds General fund 326,003 Restricted funds Cheriton Road Sports Ground Development Fund 5,065,427 Athletics Track 2,388 Athletics Equipment 10,000 5,077,815 TOTAL FUNDS 5,403,818 |
2021 £ 28,350 102,317 52,957 - 15,297 198,921 2021 £ 41,605 3,437 45,042 2021 Total funds £ 5,155,307 1 224,008 (45,042) 5,334,274 Net movement in funds £ 30,018 (243,139) 136,177 7,400 (99,562) (69,544) |
2020 £ - 107,807 5,529 10,566 2,297 126,199 2020 £ 14,379 3,339 17,718 2020 Total funds £ 5,226,593 1 194,942 (17,718) 5,403,818 At 30.6.21 £ 356,021 4,822,288 138,565 17,400 4,978,253 5,334,274 |
|---|---|---|
continued...
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THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Cheriton Road Sports Ground Development Fund Athletics Track Athletics Equipment Community Hub TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Cheriton Road Sports Ground Development Fund Athletics Track Athletics Equipment TOTAL FUNDS |
Incoming resources £ 76,138 500 136,177 7,675 12,250 156,602 232,740 At 1.7.19 £ 287,189 5,281,086 - - 5,281,086 5,568,275 |
Resources expended £ (46,120) (243,639) - (275) (12,250) (256,164) (302,284) Net movement in funds £ 38,814 (215,659) 2,388 10,000 (203,271) (164,457) |
Movement in funds £ 30,018 (243,139) 136,177 7,400 - (99,562) (69,544) At 30.6.20 £ 326,003 5,065,427 2,388 10,000 5,077,815 5,403,818 |
|
|---|---|---|---|---|
continued...
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THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Cheriton Road Sports Ground Development Fund Athletics Track Athletics Equipment TOTAL FUNDS |
Incoming resources £ 90,522 18,981 2,388 10,000 31,369 121,891 |
Resources Movemen expended in funds £ £ (51,708) 38,814 (234,640) (215,659) - 2,388 - 10,000 (234,640) (203,271) (286,348) (164,457) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Cheriton Road Sports Ground Development Fund Athletics Track Athletics Equipment TOTAL FUNDS |
At 1.7.19 £ 287,189 5,281,086 - - 5,281,086 5,568,275 |
Net movement in funds £ 68,832 (458,798) 138,565 17,400 (302,833) (234,001) |
At 30.6.21 £ 356,021 4,822,288 138,565 17,400 4,978,253 5,334,274 |
|---|---|---|---|
continued...
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THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
16. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Cheriton Road Sports Ground Development Fund Athletics Track Athletics Equipment Community Hub TOTAL FUNDS |
Incoming resources £ 166,660 19,481 138,565 17,675 12,250 187,971 354,631 |
Resources Movement expended in funds £ £ (97,828) 68,832 (478,279) (458,798) - 138,565 (275) 17,400 (12,250) - (490,804) (302,833) (588,632) (234,001) |
|---|---|---|
General Fund
General funds comprise those funds that the trustees are free to use in accordance with the charitable company's objects.
Cheriton Road Sports Ground Development Fund
The Cheriton Road Sports Ground Development Fund represents donations received from The Roger De Haan Charitable Trust for the initial building costs and subsequent snagging costs in respect of the sports ground. This fund also includes other small donations and grants received for the development of the sports ground. Depreciation is charged to resources expended in respect of the restricted fixed assets of the fund.
Athletics Track
The Athletics Track fund represents a grant of up to £933,870 from The Roger de Haan Charitable Trust to fund the construction and fitting-out of an eight-lane athletics facility at the Three Hills Sport Ground.
Athletics Equipment
The Athletics Equipment fund represents donations and grants received for new athletics equipment for the athletics track.
Community Hub
The Community Hub fund represents donations and grants received towards the running costs of the COVID-19 community hub which was held at The Three Hills site.
continued...
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THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
17. CONTINGENT LIABILITIES
The charitable company and Shepway District Council received a grant of £514,018 in 2015 from The Football Foundation towards the cost of a floodlit 3G artificial grass pitch. Should there be a breach of the terms and covenants set by The Football Foundation then the charitable company is required to repay the entire grant. The Football Foundation has been granted a charge over the charitable company's leasehold property.
The charitable company has agreed to undertake financial support of Three Hills Sports Park (formerly known as Shepway Leisure) which at 30 April 2020 had net liabilities of £35,266 (2019 - £17,385).
18. RELATED PARTY DISCLOSURES
Trustees
During the year donations from trustees amounted to £Nil (2020 - £10,000 from Brian Davies).
Three Hills Sport Park
As at 30 June 2021 £Nil (2020 - £10,566) was the total amount due from Three Hills Sports Park (formerly known as Shepway Leisure). Three Hills Sport Park is a company limited by guarantee that operates as the facilities management company.
19. GOVERNMENT GRANTS
During the year the charity has received government grants due to the COVID-19 pandemic. The charity received Retail, Hospitality and Leisure Business Grants totalling £22,928 and a Restart Grant of £18,000, compensatory grants to give immediate financial support to the charity. These sums have been credited to the statement of financial activities in the year.
20. COMPANY LIMITED BY GUARANTEE
The charitable company is limited by guarantee and has no share capital. Every member of the charitable company undertakes, in the event of winding up of the charitable company, to contribute such amount as may be necessary not exceeding £1 each.
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THE CHERITON ROAD SPORTS GROUND TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Government grants Investment income Rents receivable Charitable activities Grants Total incoming resources EXPENDITURE Charitable activities Contribution to premises expenses Sundry expenses Repairs and ground maintenance Community hub running costs Bank charges Professional fees Depreciation - long leasehold Depreciation - plant, machinery and equipment Computer equipment Support costs Governance costs Accountancy fees Independent examiner's fee Total resources expended Net expenditure |
2021 £ 13,926 40,928 54,854 25,209 152,677 232,740 10,000 110 23,933 12,250 106 600 204,537 47,114 209 298,859 2,660 765 3,425 302,284 (69,544) |
2020 £ 55,002 10,000 65,002 35,521 21,368 121,891 - 401 35,765 - 102 1,500 201,553 43,493 209 283,023 2,565 760 3,325 286,348 (164,457) |
|---|---|---|
This page does not form part of the statutory financial statements
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