Charity registration number: 1151545
Thatcham Rugby Football Club
Annual Report and Financial Statements
for the Year Ended 31 May 2022
UHY Ross Brooke Limited Chartered Accountants and Registered Auditors 2 Old Bath Road Newbury Berkshire RG14 1QL
Thatcham Rugby Football Club
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 13 |
Thatcham Rugby Football Club
Reference and Administrative Details
Chairman David John Hamilton Trustees Mark Littlechild John Dixon James Thorogood Russell Adamson Jack Moore Mark Smith David Langford Charity Registration Number 1151545 Principal Office 3 Magpie Close Thatcham Berkshire RG19 3RZ
Page 1
Thatcham Rugby Football Club
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 May 2022.
Structure, governance and management
Recruitment and appointment of trustees
Each year two trustees stand down and two new ones are appointed. Or the trustees standing down can stand again if they are elected by the club members at the AGM. The trustees are a mix of club members and external people.
New trustees appointed at the AGM were David Langford, Jack Moore and Mark Smith.
Organisational structure
The charity is a Charitable Incorporated Organisation and is governed by the constitution dated 15th February 2013. The charity was registered on 5th April 2013.
Objectives and activities
Objects and aims
The charity was set up to enable the local catchment area of Thatcham and the surrounding villages to benefit from cost effective sporting recreational activity through the playing and coaching of rugby union.
The trustees have had due regard to guidance published by the Charities Commission on public benefit.
The charity offer the opportunity to take part in all forms of the Rugby union game from mini rugby starting at under 6 age group (mixed) through to junior rugby, under 11 – under 15 (male teams only at the present) and on to colts and senior rugby. A number of the club volunteer coaches give up more of their time to coach in local after school clubs to further benefit the local community. Thatcham Rugby club host an annual schools rugby festival, covering the whole of the community and surrounding areas.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Financial review
Policy on reserves
The reserves held at 31st May 2022 will be used to improve the welfare facilities within the sports pavilion during the year ended 31st May 2023 which is owned by the charity. Going forward a reserve fund will be implemented to deal with emergency situations with the pavilion.
Page 2
Thatcham Rugby Football Club
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper 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 Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Russell Adamson Trustee
Page 3
Thatcham Rugby Football Club
Independent Examiner's Report to the trustees of Thatcham Rugby Football Club
I report to the trustees on my examination of the accounts of Thatcham Rugby Football Club for the year ended 31 May 2022.
Responsibilities and basis of report
As the charity trustees of Thatcham Rugby Football Club you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Thatcham Rugby Football Club's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Thatcham Rugby Football Club as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
...................................... Christopher Davies FCCA Chartered Accountants and Registered Auditors
2 Old Bath Road Newbury Berkshire RG14 1QL
Date:.............................
Page 4
Thatcham Rugby Football Club
Statement of Financial Activities for the Year Ended 31 May 2022
| Note Incoming resources Incoming resources from generated funds Donations and legacies 2 Charitable activities 3 Other income 4 Total incoming resources Resources expended Charitable activities 5 Other recognised gains and losses Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds General £ 22,871 42,644 - 65,515 (82,295) (16,780) 330,065 313,285 |
Total 2022 £ 22,871 42,644 - 65,515 (82,295) (16,780) 330,065 313,285 |
Total 2021 £ 39,186 24,962 8,997 |
|||
|---|---|---|---|---|---|---|
| 73,145 | ||||||
| (43,817) | ||||||
| 29,328 | ||||||
| 300,737 | ||||||
| 330,065 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 12.
The notes on pages 7 to 13 form an integral part of these financial statements. Page 5
Thatcham Rugby Football Club
(Registration number: 1151545) Balance Sheet as at 31 May 2022
| Note Fixed assets Tangible assets 15 Current assets Stocks 7 Debtors 8 Cash at bank and in hand 9 Creditors: Amounts falling due within one year 10 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 11 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 12 |
2022 £ 360,402 3,500 - 13,831 17,331 (8,624) 8,707 369,109 (55,824) 313,285 313,285 313,285 |
2021 £ 363,975 3,500 3,006 29,764 |
|---|---|---|
| 36,270 (7,688) |
||
| 28,582 | ||
| 392,557 (62,492) |
||
| 330,065 | ||
| 330,065 | ||
| 330,065 |
The financial statements on pages 5 to 13 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Russell Adamson Trustee
The notes on pages 7 to 13 form an integral part of these financial statements. Page 6
Thatcham Rugby Football Club
Notes to the Financial Statements for the Year Ended 31 May 2022
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
A summary of the principal accounting policies, which have been applied consistently, except where noted, is set out below.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Page 7
Thatcham Rugby Football Club
Notes to the Financial Statements for the Year Ended 31 May 2022 (continued)
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Freehold Property Interest Plant and equipment
Depreciation method and rate 2% straight line basis 25% straight line basis
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Tangible fixed assets
Individual fixed assets costing £250.00 or more are initially recorded at cost.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 8
Thatcham Rugby Football Club
Notes to the Financial Statements for the Year Ended 31 May 2022 (continued)
2 Income from donations and legacies
| Donations and legacies; Donations from individuals Grants, including capital grants; Government grants Grants from other agencies 3 Income from charitable activities Subscriptions Tickets Sales of purchased goods- kit Club dinner Sales of purchased goods- gin sales 4 Other income Income from trading subsidiary |
Unrestricted funds General £ 14,637 2,667 5,567 22,871 Unrestricted funds General £ 24,905 8,352 4,177 3,060 2,150 42,644 |
Total 2022 £ 14,637 2,667 5,567 22,871 Total 2022 £ 24,905 8,352 4,177 3,060 2,150 42,644 Total 2022 £ - |
Total 2021 £ 1,565 19,051 18,570 |
|---|---|---|---|
| 39,186 | |||
| Total 2021 £ 19,745 174 373 420 4,250 |
|||
| 24,962 | |||
| Total 2021 £ 8,997 |
Income from trading subsidiary
Page 9
Thatcham Rugby Football Club
Notes to the Financial Statements for the Year Ended 31 May 2022 (continued)
5 Other expenditure
| Travel and subsistence Physio & consumables Training and courses Marketing and PR Insurance RFU fees and fines Kit Match pitch hire Tickets Referees Club dinner & trophies Post match food & hospitality Loan repayments Independent examination Depreciation Rates Telephone TV Licences Commission paid on gin sales Property repairs and renewals Purchased goods for sale Corporation tax late filing penalty |
Unrestricted funds General £ 845 7,706 20 1,221 1,766 220 7,804 3,405 8,115 550 4,894 2,871 17,100 1,999 8,925 2,869 2,634 4,296 2,106 2,849 - 100 82,295 |
Total 2022 £ 845 7,706 20 1,221 1,766 220 7,804 3,405 8,115 550 4,894 2,871 17,100 1,999 8,925 2,869 2,634 4,296 2,106 2,849 - 100 82,295 |
Total 2021 £ - 1,757 220 380 1,609 40 770 2,690 174 - 1,595 177 13,000 1,903 8,362 2,225 771 2,162 4,262 1,295 425 - |
|---|---|---|---|
| 43,817 |
6 Government grants
The government grants received in the year are from West Berkshire Council for support and recovery during the Covid pandemic, of which all are non repayable.
The amount of grants recognised in the financial statements was £2,667 (2021 - £19,051).
7 Stock
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Stocks | 3,500 | 3,500 |
Page 10
Thatcham Rugby Football Club
Notes to the Financial Statements for the Year Ended 31 May 2022 (continued)
8 Debtors
| 8 Debtors |
||
|---|---|---|
| Other debtors 9 Cash and cash equivalents Cash at bank Short-term deposits |
2022 £ - 2022 £ 5,758 8,073 13,831 |
2021 £ 3,006 |
| 2021 £ 26,469 3,295 |
||
| 29,764 |
10 Creditors: amounts falling due within one year
| Other loans Other creditors Accruals 11 Creditors: amounts falling due after one year Other loans |
2022 £ 6,668 936 1,020 8,624 2022 £ 55,824 |
2021 £ 6,668 - 1,020 |
|---|---|---|
| 7,688 | ||
| 2021 £ 62,492 |
The loan of £100,000 from Rugby Football Club Foundation is secured on the pavilion.
12 Funds
| 12 Funds | ||||
|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | Balance at 31 | |
| June 2021 | resources | expended | May 2022 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General | ||||
| General | 330,065 | 65,515 | (82,295) | 313,285 |
Page 11
Thatcham Rugby Football Club
Notes to the Financial Statements for the Year Ended 31 May 2022 (continued)
| Balance at 1 June 2020 £ Unrestricted funds General General 300,737 13 Analysis of net assets between funds Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets |
Incoming resources £ 73,145 |
Resources expended £ (43,817) Unrestricted funds General £ 360,402 17,331 (8,624) (55,824) 313,285 |
Balance at 31 May 2021 £ 330,065 |
|---|---|---|---|
| Total funds at 31 May 2022 £ 360,402 17,331 (8,624) (55,824) |
|||
| 313,285 |
14 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 12
Thatcham Rugby Football Club
Notes to the Financial Statements for the Year Ended 31 May 2022 (continued)
15 Tangible fixed assets
| Cost At 1 June 2021 Additions At 31 May 2022 Depreciation At 1 June 2021 Charge for the year At 31 May 2022 Net book value At 31 May 2022 At 31 May 2021 |
Land and buildings £ 406,235 - 406,235 43,368 7,944 51,312 354,923 362,867 |
Furniture and equipment £ 5,076 5,353 10,429 3,968 982 4,950 5,479 1,108 |
Total £ 411,311 5,353 |
|---|---|---|---|
| 416,664 | |||
| 47,336 8,926 |
|||
| 56,262 | |||
| 360,402 | |||
| 363,975 |
The freehold interest relates to costs incurred in building the new sports pavilion.
16 Related party transactions
During the year the charity made the following related party transactions:
Red and Blue Trading Limited
The company is owned by Thatcham Rugby Football Club, owning 100% of the shareholding.
Red and Blue Trading Limited run the club bar facilities and distribute profits to Thatcham Rugby Football Club. Distributions in the year to 31 May 2022 totalled £nil (2021: £8,997). At the balance sheet date the amount due to Red and Blue Trading Limited was £936 (2021 - £3,006 due from).
Control
The charity is controlled by the trustees.
17 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 13
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Signed by Russell Keith Adamson using authentication code TyQ1dlJkVyhadUZU at IP address 86.18.44.192, on 2023/02/26 11:49:50 Z.
Russell Keith Adamson's e-mail address is: trfc81treasurer@gmail.com.