2020-09-30-accounts

Charity Registration No. 1144460

Company Registration No. 02463826 (England and Wales)

WREXHAM TENNIS CENTRE LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

WREXHAM TENNIS CENTRE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	J A Webb
	J S Ainge
Secretary	J A Webb
Charity number	1144460
Company number	02463826
Registered office	Wrexham Tennis Centre
	Plas Coch Road
	Wrexham
	Clwyd
	LL11 2BW
Independent examiner	McLintocks (NW) Limited
	The Coach House
	25 Rhosddu Road
	Wrexham
	LL11 1EB
Bankers	Unity Trust Bank plc
	4 Brindleyplace
	Birmingham
	B1 2HB
Solicitors	Allington Hughes Law
	10 Grosvenor Road
	Wrexham
	LL11 1SD

WREXHAM TENNIS CENTRE LIMITED

CONTENTS

	Page
Trustees' report	1 - 3
Statement of trustees' responsibilities	4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7 - 8
Notes to the financial statements	9 - 17

WREXHAM TENNIS CENTRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2020

The trustees present their report and financial statements for the year ended 30 September 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016) .

Objectives and activities

The charity's objects are detailed in the governing document and in summary are the promotion of community participation in healthy recreation through the provision of playing tennis at all standards of the game.

The current trustees have retained the majority of these Aims and Objectives from previous plan with a review planned in 2020-2021.

Current Objectives:

• To provide structured opportunities for local players through North Wales and surrounding areas

• To increase participation within the local community

• To be a favoured venue to host national and international events

• To provide a well-structured coach development programme

• To be recognised as a centre for talent identification and dovetail with Tennis Wales and LTA programmes

• To enhance the facility

• To support to work of the tennis club

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The trustees confirm that they have complied with the Charity Commission's guidance on public benefit.

Achievements and performance

During the period October 2019 through to September 2020 the overall performance of the charity had continued from the previous financial year, until the impact of Covid-19 from March 2020. This resulted in a complete shutdown of the facility for 3 months, and restricted operations through to the end of the financial year due to following government guidelines The closure and ongoing restrictions adversely affected income and led to a reliance on the newly introduced Job Retention Scheme.

Financial review

The first half of the year had seen the continuation of the previous financial year’s improvement, along with strong cost management. The impact of Covid-19 resulted in no income for a 3 month period, and reduced income when the facility re-opened under new restrctions.

In the period since the year end there have been further restrictions, with the facility still unable to function fully as it had prior to the pandemic, but as restrictions slowly lift, following the government roadmap, revenue is slowly improving, whilst cost management and utilisation of the Job Retention Scheme remain critical.

Reserves policy

The trustees policy is to retain 10% of turnover in cash monthly.

Risk management

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

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WREXHAM TENNIS CENTRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

The charity operates a tight financial policy that minimises the opportunity for fraud or financial error. The trustees takes no remuneration and the accounting policy is similar to that of a SME. This includes:

• Trustee to monitor financial performance on a monthly basis

• Other stakeholders that include the local authority and Tennis Wales to have access to detailed financial information on a monthly basis

• All expenditure within set limits are signed off by a trustee

• For larger capital expenditure we aim to fall in with the local authorities policy

• An external financial controller allocates expenditure on an accountancy software package weekly

Future plans

The future plans of the charity are split into facility and participation:

Facility

• To maintain a high-quality tennis provision for the local and regional community

• To improve the general aesthetic nature of many of the communal areas

• To develop the non-courtside areas of the centre which includes reception and bar areas

• Participation:

• To contribute to the local communities health and wellbeing through promoting activity through tennis

• To increase the number of young players age 4 - 7

• To encourage and incentivise young people who wouldn't ordinarily play tennis to play

• To provide good coaching opportunities for all players from beginners to the highly talented

• To ensure we increase the opportunities to play recreationally especially amongst adults

• To breakdown the stigma that is often associated with tennis

• To create a sustainable link with the club to facilitate players continuing to play in their adulthood

Structure, governance and management

Governing document

The charity is a company limited by guarantee by it's Memorandum and Articles of Association, which were adopted by the company on 29th March 2011 and lodged with Companies House on 15th April 2011. It was registered as a charity with the Charity Commission on 27th October 2011, under charity number 1144460.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

J A Webb

J A Webb
M Morris	(Resigned 30 April 2021)
J S Ainge
G V Hawkey	(Appointed 30 April 2021 and resigned 2 June 2021)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisational structure

The trustees are volunteers with oversight for strategy, governance, finance and regulation. The board sits every month to review these 4 points together with the centres operations. There is a general manager in position to implement strategy and oversee the running of the centre. The charity has developed subcommittees that report into the board which focus on the 4 core operational areas of the centre.

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WREXHAM TENNIS CENTRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

Induction and training of trustees

For new trustees they will be inducted and trained including the following:

• Facility overview to include health and safety and risk assessment awareness

• • Insight into our programme and the opportunities we offer the community

• The charity's governance and communication structure

• Safeguarding orientation

• The role of the charity

• The legal and regulatory responsibilities of a charity trustee.

Remuneration policy

Key management remuneration is agreed by the board of trustees.

The trustees' r eport was approved by the Board of Trustees.

J S Ainge

Trustee Dated: 30 June 2021

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WREXHAM TENNIS CENTRE LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 SEPTEMBER 2020

The trustees, who are also the directors of Wrexham Tennis Centre Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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WREXHAM TENNIS CENTRE LIMITED

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WREXHAM TENNIS CENTRE LIMITED

I report to the trustees on my examination of the financial statements of Wrexham Tennis Centre Limited (the charity) for the year ended 30 September 2020.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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 that in any material respect:

• 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

• 4 the financial statements 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 financial statements to be reached.

Timothy Mitchell BSc FCA McLintocks (NW) Limited The Coach House 25 Rhosddu Road Wrexham LL11 1EB

Dated: 30 June 2021

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WREXHAM TENNIS CENTRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2020

Unrestricted Restricted funds funds 2020 2020 Notes £ £ Income and endowments from: Donations and legacies 3 49,113 - Charitable activities 4 225,835 - Other income 5 15,297 - Total income 290,245 - Expenditure on: Charitable activities 6 330,715 3,092 Net (expenditure)/income for the year/ Net movement in funds (40,470) (3,092) Fund balances at 1 October 2019 400,285 3,092 Fund balances at 30 September 2020 359,815 -	TotalUnrestricted Restricted funds funds 2020 2019 2019 £ £ £ 49,113 - - 225,835 375,415 8,500 15,297 26,796 - 290,245 402,211 8,500 333,807 353,418 8,049 (43,562) 48,793 451 403,377 351,490 2,641 359,815 400,283 3,092	Total 2019 £ - 383,915 26,796 410,711 361,467 49,244 354,131 403,375

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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WREXHAM TENNIS CENTRE LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2020

Notes Fixed assets Tangible assets 10 Investments 11 Current assets Stocks 12 Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Income funds Restricted funds 16 Unrestricted funds	2020 £ 793 68,021 27,128 95,942 (45,393)	£ 309,264 2 309,266 50,549 359,815 - 359,815 359,815	2019 £ 2,112 78,281 38,894 119,287 (48,281)	£ 332,367 2 332,369 71,006 403,375 3,092 400,283 403,375

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WREXHAM TENNIS CENTRE LIMITED

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2020

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2020.

The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 30 June 2021

J S Ainge

Trustee

Company Registration No. 02463826

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WREXHAM TENNIS CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

1 Accounting policies

Charity information

Wrexham Tennis Centre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Wrexham Tennis Centre, Plas Coch Road, Wrexham, Clwyd, LL11 2BW.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The charitable company is a public benefit entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The charitable company is taking advantage of the exemption to small charities not to prepare consolidated accounts.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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WREXHAM TENNIS CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

1 Accounting policies

(Continued)

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met . Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable . A grant received before the recognition criteria are satisfied is recognised as a liability.

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings 4% on cost Plant and equipment 25% on cost Fixtures and fittings 25% on cost Computers 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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WREXHAM TENNIS CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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WREXHAM TENNIS CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Government grants Charitable activities Sales within charitable activities Analysis by fund Unrestricted funds Restricted funds For the year ended 30 September 2019 Unrestricted funds Restricted funds	Tennis activities 2020 £ 225,835 225,835 - 375,415 - 375,415	Unrestricted funds 2020 £ 49,113 Grants Total 2020 2020 £ £ - 225,835 - 225,835 - - - 8,500 8,500	Total 2019 £ - Total 2019 £ 383,915 375,415 8,500 375,415 8,500 383,915

4 Charitable activities

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WREXHAM TENNIS CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

5 Other income

		Unrestricted	Total
		funds
		2020	2019
		£	£
	Rental income	15,297	26,796
6	Charitable activities
		Tennis	Tennis
		activities	activities
		2020	2019
		£	£
	Staff costs	27,066	15,445
	Subcontractors	87,730	136,405
	Equipment and running costs	9,697	4,320
	Travel	-	684
		124,493	156,854
	Share of support costs (see note 7)	198,101	193,672
	Share of governance costs (see note 7)	11,213	10,941
		333,807	361,467
	Analysis by fund
	Unrestricted funds	330,715	353,418
	Restricted funds	3,092	8,049
		333,807	361,467
	For the year ended 30 September 2019
	Unrestricted funds	353,418
	Restricted funds	8,049
		361,467

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WREXHAM TENNIS CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

7 Support costs

Support costs Governance costs £ £ Staff costs 98,509 - Depreciation 26,223 - Premises costs 52,978 - Office administration costs 9,082 - Computer expenses 152 - Cleaning, repairs and renewals 4,415 - Bank charges and interest 6,418 - Travel and accommodation 324 - Audit fees - 3,180 Legal and professional - 8,033 198,101 11,213 Analysed between Charitable activities 198,101 11,213	2020 £ 98,509 26,223 52,978 9,082 152 4,415 6,418 324 3,180 8,033 209,314 209,314	2019 £ 88,081 20,616 56,700 10,501 3,396 7,677 6,701 - 3,180 7,761 204,613 204,613

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

Employment costs Wages and salaries	2020 Number 15 2020 £ 125,575	2019 Number 15 2019 £ 103,526

The key management personnel for the charity comprises of the trustees and general managers. Total salaries including employee benefits of the key management personnel were £25,000 (2019: £36,915).

Wages are recharged to subsidiaries for related work undertaken.

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WREXHAM TENNIS CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

10 Tangible fixed assets

Leasehold land and buildings Plant and equipment Fixtures and fittings Computers £ £ £ £ Cost At 1 October 2019 576,392 - 4,253 6,967 Additions - 7,815 - - At 30 September 2020 576,392 7,815 4,253 6,967 Depreciation and impairment At 1 October 2019 253,612 - - 4,851 Depreciation charged in the year 23,056 3,582 1,062 - At 30 September 2020 276,668 3,582 1,062 4,851 Carrying amount At 30 September 2020 299,724 4,233 3,191 2,116 At 30 September 2019 322,780 6,187 2,781 619

Total £ 587,612 7,815 595,427 258,463 27,700 286,163 309,264 332,367

11 Fixed asset investments

Cost or valuation At 1 October 2019 & 30 September 2020 Carrying amount At 30 September 2020 At 30 September 2019 Other investments comprise: Notes Investments in subsidiaries 19 Stocks Stock	Other investments 2 2 2 2020 2019 £ £ 2 2 2020 2019 £ £ 793 2,112

12 Stocks

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WREXHAM TENNIS CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

13 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 14 Creditors: amounts falling due within one year Notes Borrowings Other taxation and social security Deferred income 15 Trade creditors Other creditors Accruals and deferred income 15 Deferred income Other deferred income	2020 £ 1,434 60,378 6,209 68,021 2020 £ 12,313 1,277 7,013 17,975 858 5,957 45,393 2020 £ 7,013	2019 £ 10,530 60,746 7,005 78,281 2019 £ 23,667 1,741 7,092 8,650 1,361 5,770 48,281 2019 £ 7,092

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

			Movement in funds	Movement in funds
		Balance at	Incoming	Resources	Balance at
	1	October 2019	resources	expended	30 September
					2020
		£	£	£	£
Tennis Wales Player Support		3,092	-	(3,092)	-
		3,092	-	(3,092)	-

Tennis Wales Player Support funding is used to fund coach related expenditure.

Tennis Development Officer funding is received from Wrexham County Borough Council and is used to fund key management personnel salaries.

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WREXHAM TENNIS CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

16 Restricted funds

(Continued)

17 Analysis of net assets between funds Unrestricted funds Restricted funds 2020 2020 £ £ Fund balances at 30 September 2020 are represented by: Tangible assets 309,264 - Investments 2 - Current assets/ (liabilities) 50,549 - 359,815 -	TotalUnrestricted funds Restricted funds 2020 2019 2019 £ £ £ 309,264 332,367 - 2 2 - 50,549 71,006 - 359,815 403,375 -	Total 2019 £ 332,367 2 71,006 403,375

18 Related party transactions

At the year end the total amount owed from Wrexham Tennis Centre Retail Limited, subsidiary, was £36,640 (2019: £42,569).

At the year end the total amount owed from Wrexham Tennis Centre Energy Limited, subsidiary, was £24,947 (2019: £18,177).

Creditors include loans outstanding of £12,313 (2019: £23,667) owed to previous directors. The balance is not expected to be fully repaid within the next 12 months.

19 Subsidiaries

Details of the charity's subsidiaries at 30 September 2020 are as follows:

Name of undertaking	Registered	Nature of business	Class of	% Held
	office		shares held	Direct Indirect
Wrexham Tennis Centre	Plas Coch Road	Production of electricity	Ordinary	100.00
Energy Limited	Wrexham
	LL11 2BW
Wrexham Tennis Centre	Plas Coch Road	Retail at Tennis Centre	Ordinary	100.00
Retail Limited	Wrexham
	LL11 2BW

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