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 2025
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 2025
| 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 | 17 |
| Detailed Statement of Financial Activities | 18 |
THE CHERITON ROAD SPORTS GROUND TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2025
| TRUSTEES | B Geddes (resigned 1.7.25) |
|---|---|
| S Shaw | |
| N M Bristow | |
| A J Fernandes | |
| S W Ireland (resigned 1.7.25) | |
| R Burke | |
| T H Eke | |
| J A Douse | |
| V S Baxter | |
| C P Childs (resigned 10.9.25) | |
| Ms J Krayenbrink (appointed 1.7.25) | |
| REGISTERED OFFICE | 1-2 Rhodium Point Hawkinge Business Park |
| Spindle Close | |
| Hawkinge | |
| FOLKESTONE | |
| Kent | |
| CT18 7TQ | |
| 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 | |
| BANKERS | Lloyds Bank plc |
| 43 Sandgate Road | |
| FOLKESTONE | |
| Kent | |
| CT20 1RZ |
Page 1
THE CHERITON ROAD SPORTS GROUND TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
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 2025. 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 Ltd.
Three Hills Sports Park (with Directors from Folkestone Optimist Hockey Club, Folkestone Cricket Club, The Sports Trust and Folkestone Running and Athletics 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 that excellent service levels at Three Hills Sports Park continue to be provided, complying with health, safety and environmental legislation and all licence conditions.
Usage of the external and internal sports surfaces remains at high levels 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.
Bar usage increases year on year and an emphasis on customer relations for Front of House staff is paying dividends on bar takings.
Three Hills Sports Park have completed their annual programme of inspection and maintenance of our assets, completing repairs and replacing assets as required. Significant investment on essential repairs had been made most notably on a major lift refurbishment and on Fire Door upgrades across the site.
CRSGT has continued to work with The Roger De Haan Charitable Trust (RDHCT) on the delivery of the enclosed eight lane athletics track, adjacent to the current site. The track is now being regularly used by Folkestone Running and Athletics Club whilst resolution of outstanding Planning Conditions are being progressed.
Padelstars Ltd have constructed three Padel Courts on the site on an area that was largely unused and a mutually beneficial contract is now in place which will increase CRSGT income boosting the Maintenance Fund.
FINANCIAL REVIEW
Financial position
The development of the The Three Hills Sports Park (formerly Cheriton Road Sports Ground ) has been funded by restricted donations.
At the year end the charitable company had total reserves of £5,996,370 (2024 - £6,206,351) of which £5,605,339 (2024 - £5,796,833) were restricted funds. Unrestricted income reserves amounted to £391,031 (2024 - £409,519).
Page 2
THE CHERITON ROAD SPORTS GROUND TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
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 ............................................. and signed on its behalf by:
........................................................................
S Shaw - 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 2025.
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
McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL
Date: .............................................
Page 4
THE CHERITON ROAD SPORTS GROUND TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2025
| 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 6 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 £ 24,500 - 20,011 44,511 59,500 3,500 63,000 (18,489) 409,519 391,030 |
Restricted funds £ - 45,272 - 45,272 236,764 - 236,764 (191,492) 5,796,832 5,605,340 |
30.6.25 Total funds £ 24,500 45,272 20,011 89,783 296,264 3,500 299,764 (209,981) 6,206,351 5,996,370 |
30.6.24 Total funds £ 10,000 143,354 40,352 193,706 247,232 3,500 250,732 (57,026) 6,263,377 6,206,351 |
|---|---|---|---|---|
The notes form part of these financial statements
Page 5
THE CHERITON ROAD SPORTS GROUND TRUST
BALANCE SHEET 30 JUNE 2025
| Notes FIXED ASSETS Tangible assets 11 Investments 12 CURRENT ASSETS Debtors: amounts falling due within one year 13 Cash 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 |
30.6.25 £ 5,855,979 1 5,855,980 117,897 47,947 165,844 (25,454) 140,390 5,996,370 5,996,370 391,031 5,605,339 5,996,370 |
30.6.24 £ 6,066,633 1 6,066,634 128,060 28,353 156,413 (16,696) 139,717 6,206,351 6,206,351 409,519 5,796,832 6,206,351 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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
Page 6
continued...
THE CHERITON ROAD SPORTS GROUND TRUST
BALANCE SHEET - continued 30 JUNE 2025
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 ............................................. and were signed on its behalf by:
............................................. S Shaw - 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 2025
1. STATUTORY INFORMATION
The Cheriton Road Sports Ground Trust is a public benefit entity and an incorporated charitable company, limited by guarantee, registered in England and Wales.The charity number and registered office can be found on the Reference and Administrative Details page.
The charitable company's principal place of business is The Three Hills Sports Park, Cheriton Road, Folkestone, Kent, CT19 5JU.
The financial statements are prepared in sterling which is the functional currency of the charitable company.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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
Preparation of consolidated financial statements
The financial statements contain information about The Cheriton Road Sports Ground Trust as an individual company and do not contain consolidated financial information as the parent of a group. The charitable company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Going Concern
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern for the foreseeable future.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption 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.
Significant judgements and estimates
The preparation of the financial statements requires the trustees to make estimates and assumptions that affect the amounts reported in the financial statements. The trustees believe that the critical accounting policies where judgements or estimates are necessarily applied are summarised below:
- Depreciation and residual values
The trustees have reviewed the asset lives and associated residual values of all fixed asset classes, and have concluded that asset lives and residual values are appropriate.
- Loan to subsidiary
One of the assessments made in these financial statements relates to the recoverability of a loan of £103,945 to the subsidiary undertaking, which is interest free. The assessment is based on a review of the subsidiary's business plan, and the trustees consider the loan to be recoverable.
Income
All income is recognised in the Statement of Financial Activities once the charitable company has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
continued...
Page 8
THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
2. ACCOUNTING POLICIES - continued
Income
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. Gift aid is accounted for as and when received.
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
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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
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.
continued...
Page 9
THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
| 3. DONATIONS AND LEGACIES Donations 4. INVESTMENT INCOME Rents receivable 5. INCOME FROM CHARITABLE ACTIVITIES Activity Development of Cheriton Road Sports Grants Ground 6. CHARITABLE ACTIVITIES COSTS Direct Costs £ Development of Cheriton Road Sports Ground 296,264 Governance costs - 296,264 A further breakdown of charitable activities costs is shown in the detailed statement of 7. SUPPORT COSTS |
30.6.25 30.6.24 £ £ 24,500 10,000 30.6.25 30.6.24 £ £ 20,011 40,352 30.6.25 30.6.24 £ £ 45,272 143,354 Support costs (see note 7) Totals £ £ - 296,264 3,500 3,500 3,500 299,764 financial activities. |
30.6.24 £ 10,000 30.6.24 £ 40,352 30.6.24 £ 143,354 |
|---|---|---|
| Totals £ 296,264 3,500 |
||
| 299,764 |
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Governance costs: | ||
| Accountancy fees | 1,750 | 1,750 |
| Independent Examination fee | 1,750 | 1,750 |
| 3,500 | 3,500 | |
| NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Accountancy fees Independent examination Depreciation - owned assets |
30.6.25 £ 1,750 1,750 238,910 |
30.6.24 £ 1,750 1,750 172,498 |
8. NET INCOME/(EXPENDITURE)
continued...
Page 10
THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
9. TRUSTEES' REMUNERATION AND BENEFITS
There was no trustees' remuneration for the year ended 30 June 2025 nor for the year ended 30 June 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024.
During the year £nil (2024: £123) was repaid to the trustee Mr S Shaw in respect of expenses.
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 £ 10,000 - 40,352 50,352 103,510 3,500 107,010 (56,658) 466,177 409,519 |
Restricted funds £ - 143,354 - 143,354 143,722 - 143,722 (368) 5,797,200 5,796,832 |
Total funds £ 10,000 143,354 40,352 193,706 247,232 3,500 250,732 (57,026) 6,263,377 6,206,351 |
|---|---|---|---|
continued...
Page 11
THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
11. TANGIBLE FIXED ASSETS
| COST At 1 July 2024 Additions At 30 June 2025 DEPRECIATION At 1 July 2024 Charge for year At 30 June 2025 NET BOOK VALUE At 30 June 2025 At 30 June 2024 12. FIXED ASSET INVESTMENTS |
Long leasehold £ 8,175,356 16,638 8,191,994 2,303,038 209,162 2,512,200 5,679,794 5,872,318 |
Plant, machinery and equipment £ 664,231 11,618 675,849 470,963 29,539 500,502 175,347 193,268 |
Computer equipment £ 2,093 - 2,093 1,046 209 1,255 838 1,047 |
Totals £ 8,841,680 28,256 |
|---|---|---|---|---|
| 8,869,936 | ||||
| 2,775,047 238,910 |
||||
| 3,013,957 | ||||
| 5,855,979 | ||||
| 6,066,633 | ||||
| Shares in group |
|
|---|---|
| undertakings | |
| £ | |
| COST | |
| At 1 July 2024 and 30 June 2025 | 1 |
| NET BOOK VALUE | |
| At 30 June 2025 | 1 |
| At 30 June 2024 | 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
| % | |||
|---|---|---|---|
| Class of share: | holding | ||
| Ordinary | 100 | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Aggregate capital and reserves | (43,676) | (70,989) | |
| Profit for the year | 27,313 | 38,644 |
continued...
Page 12
THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Amounts owed by subsidiary undertaking Sundry debtors VAT CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted fund funds £ £ Fixed assets 351,733 5,504,246 Investments 1 - Current assets 47,342 118,502 Current liabilities (8,045) (17,409) 391,031 5,605,339 |
30.6.25 £ 103,945 6,833 7,119 117,897 30.6.25 £ 21,180 4,274 25,454 30.6.25 Total funds £ 5,855,979 1 165,844 (25,454) 5,996,370 |
30.6.24 £ 101,300 21,062 5,698 128,060 30.6.24 £ 1,087 15,609 16,696 30.6.24 Total funds £ 6,066,633 1 156,413 (16,696) |
|---|---|---|
| 6,206,351 |
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
16. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Cheriton Road Sports Ground Development Fund Athletics Track Athletics Equipment TOTAL FUNDS |
At 1.7.24 £ 409,519 4,383,180 1,118,657 294,995 5,796,832 6,206,351 |
Net movement in funds £ (18,488) (198,711) 8,856 (1,638) (191,493) (209,981) |
At 30.6.25 £ 391,031 4,184,469 1,127,513 293,357 |
|---|---|---|---|
| 5,605,339 | |||
| 5,996,370 |
continued...
Page 13
THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
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 TOTAL FUNDS |
Incoming resources £ 44,511 30,487 14,785 - 45,272 89,783 |
Resources Movement expended in funds £ £ (62,999) (18,488) (229,198) (198,711) (5,929) 8,856 (1,638) (1,638) (236,765) (191,493) (299,764) (209,981) |
Resources Movement expended in funds £ £ (62,999) (18,488) (229,198) (198,711) (5,929) 8,856 (1,638) (1,638) (236,765) (191,493) (299,764) (209,981) |
|---|---|---|---|
| (191,493) | |||
| (209,981) |
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Cheriton Road Sports Ground Development Fund Athletics Track Athletics Equipment TOTAL FUNDS |
At 1.7.23 £ 466,177 4,516,167 983,905 297,128 5,797,200 6,263,377 |
Net movement in funds £ (56,658) (132,987) 134,752 (2,133) (368) (57,026) |
At 30.6.24 £ 409,519 4,383,180 1,118,657 294,995 |
|---|---|---|---|
| 5,796,832 | |||
| 6,206,351 |
continued...
Page 14
THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
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 £ 50,352 4,000 139,354 - 143,354 193,706 |
Resources Movement expended in funds £ £ (107,010) (56,658) (136,987) (132,987) (4,602) 134,752 (2,133) (2,133) (143,722) (368) (250,732) (57,026) |
Resources Movement expended in funds £ £ (107,010) (56,658) (136,987) (132,987) (4,602) 134,752 (2,133) (2,133) (143,722) (368) (250,732) (57,026) |
|---|---|---|---|
| (368) | |||
| (57,026) |
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 1.7.23 £ 466,177 4,516,167 983,905 297,128 5,797,200 6,263,377 |
Net movement in funds £ (75,146) (331,698) 143,608 (3,771) (191,861) (267,007) |
At 30.6.25 £ 391,031 4,184,469 1,127,513 293,357 |
|---|---|---|---|
| 5,605,339 | |||
| 5,996,370 |
Page 15
continued...
THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
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 TOTAL FUNDS |
Incoming resources £ 94,863 34,487 154,139 - 188,626 283,489 |
Resources Movement expended in funds £ £ (170,009) (75,146) (366,185) (331,698) (10,531) 143,608 (3,771) (3,771) (380,487) (191,861) (550,496) (267,007) |
|---|---|---|
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 substantial grant from The Roger de Haan Charitable Trust, and grants from other organisations, 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.
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 which at 31 October 2024 had net assets of £116,912 (2023 net assets- £126,430). The accounts for the year end 31 October 2025 are not available at date of reporting.
Under a group registration, the charitable company is jointly and severally liable for VAT. No sum was due to HM Revenue and Customs at 30 June 2025.
Page 16
continued...
THE CHERITON ROAD SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025
18. CAPITAL COMMITMENTS
There were no capital commitments at the year end 30 June 2025.
19. RELATED PARTY DISCLOSURES
The charitable company rents the long leasehold property to the subsidiary company, CRSGT (Trading) Limited. The rent charged in the year was £20,011 (2024- £40,352).
There were no other related party transactions for the year ended 30 June 2025.
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.
Page 17
THE CHERITON ROAD SPORTS GROUND TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025
| 30.6.25 | 30.6.24 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies | ||||
| Donations | 24,500 | - | 24,500 | 10,000 |
| Investment income | ||||
| Rents receivable | 20,011 | - | 20,011 | 40,352 |
| Charitable activities | ||||
| Grants | - | 45,272 | 45,272 | 143,354 |
| Total incoming resources | 44,511 | 45,272 | 89,783 | 193,706 |
| EXPENDITURE | ||||
| Charitable activities | ||||
| Adjustment for insurance costs | - | - | - | 58,852 |
| Sundry expenses | 21 | - | 21 | 220 |
| Repairs and ground maintenance | 26,313 | 28,639 | 54,952 | 15,022 |
| Bank charges | 173 | - | 173 | 161 |
| Professional fees | 136 | 2,072 | 2,208 | 479 |
| Depreciation - long leasehold | 10,453 | 198,709 | 209,162 | 136,056 |
| Depreciation - plant, machinery and equipment | 22,194 | 7,345 | 29,539 | 36,233 |
| Depreciation - computer equipment | 209 | - | 209 | 209 |
| 59,499 | 236,765 | 296,264 | 247,232 | |
| Support costs | ||||
| Governance costs | ||||
| Accountancy and independent examination fees | 3,500 | - | 3,500 | 3,500 |
| Total resources expended | 62,999 | 236,765 | 299,764 | 250,732 |
| Net (expenditure)/income | (18,488) | (191,493) | (209,981) | (57,026) |
This page does not form part of the statutory financial statements
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