Charity number: 1154688 Compqny number: 117428216 Norton Sports Charity (A company limited by guarantee) Trustees, report and financiat Statements for the year ended 30 November 2023
Norton Sports Charity (A company limlted by guarantee) Contents Pagc tE8al and miniS1ra¢lve information Trustees. report Indep¢nden( examiners, Teport Siatemeni of fjnancial aciiviiies Balance sheei Notes to the financial Statements 10-19
Norton Sports Charity (A company limited by guarantee) Legal and admlnistrative infonnation Charity number 1154688 Company registration number 07428216 Business addres 74 Sw(Èon Road Norton Stockton-on-Tees TS20 1 PE Registered offjce 74 Siataotl Road Nortoft Siockton On Tees TS20 1 PE Tn]ste¢s W R Pickersgill P W Fro%r D Mccullogh S Andrews C L Fr051 A C Johnson N R Collins Aceountsnts Chipchase Manners 384 Linthorpe Road Middlesbrough TS5 6HA Page I
Norton Sports Charity IA company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 30 November 2023 The tnJ$iees present their report and the financial 5taiemen15 for the year ended 30 November 2023. The $[ees, who are also directors of Norton Sports Charity for ihe purposes of cotnpany law and who served dursng the year and up to rhe date of this report are sei out on page l. struCre) governance and management GovernTn¥ docitmenl Nonon Spons Charity is an incorporaied charity, ¢onsiiiu*d under the Companies Act and as such is gtsverned by ils Memorartdum and Articles of Association. Governiiig body and orgonisoisonal inonogeineni The poli¢y and general management of the affairs of the chatity are conirolled by the trustees. who also refeTred to as the directors in aceordattce wilh the company law. The tr81t¢S are responsible for ethsuring that the ChaTity keeps proper accounlins records that disc105e wilh reasonable accuracy. at any time, Ihe financial position of the Tnist and 10 enable ihem ro ensure that the fJnan¢ial siaiemenls comply with ¢harity law. The tn15tees aTe a150 responsable for safeguarding the asscts of Ihe Trusi and for takitk8 reason2ble steps for Ihe prevention and deieciion of fraud and other irregularities. The direcior5 meet on a monthly basis. Triisfee iroliiing New ¢ru¥tees are inducted illlo Ihe worksng eThvLTonmcnl of the charity. and also of the organi5ation as a regisiered charity. including tn]stees' policy and proce4ur¢s. RESL. iirdiiageiiieitl The iru5tees have, from time 10 time, condv¢ied its own leview of the major Strategic, business and operdtiorsal risk5 to which the charity i% exposed. The irusiees confirm Ihat systems have been esiabli%hed io monitor and conirol these rtsks miiigaie any impaci they may have on the charity. Objectives and activities The trustee5 can confErm Ih2t they have referred ¢0 the guidaoce coniaKned in the Charity Commission's general guidance on public benef2t when revÈewing the charity's aims arld objeciive5. AcliviiieJ of ilie chariiy The activities of rhe chariry are ihe provision of facilities for sporting. recreational and social activities. Achleyements and performanee Clioinnoii's report The 2023 year was one of re-building from ihe sltyaiion post-paodemic. The full weight of our invesimeftt it) the ¢0munitY clubhouse wa5 becoming evident 2nd whilst the sponing acliviiy on our faciliries was Still affected post pandemIc regrowth of ollr hosted Clubs, the activity and subsequeni financial benefits from our COMunItY In(erest Company Clubhouse activity started io deliver a plaiform for a strengthening financial environnnI including the abilily 10 s¢rvice debr. Page 2
Norton Sports Charity (A company limited by guarantee) Report of the trustees (Incoryorating the directors, report) for the year ended 30 November 2023 Before I coniinue in ihis report on our activities and future plans I must pay iribute 10 my predecessor Dr Peter Fr05t. A remarkable man Wlih a focu5 and deiennination ihat is absolutely Ihe only way that the tnajor change Ihot was needed in this organisaLion could be delivered. He leaves the role of Chair with a much less dramatic challenge for me of maintaining the CUTreTht 5iiuation and l(x)kin8 at Modera growth in Ihe future. Our focus iemains on sevett aetion area5 within our str8te8ie plats.. Fundamenta15 Health. safety and safeguarding Inclusivtty, equality and diversily Effeciive staffing and workload management Sound finances Increased llt usage Programmed asset mainienanee and development projecis. Of particular importance i% our work on increasing Ihe offer 10 lbled people by setting plans to remove ihc obsiaeles ihat provide Ihe di.sabling situations. Our hosted clubg are einbr&cing that desire also. Mueh work has been done on our parlneF5hips with other organisations in ihe community to move even funher forward on the increased u%e of our facilities for iDclusive recreational activities including our foresi acLiviue4 iTh ollr communiiy foresi and recently delivered forest shelier buildin8. Our footfall continues to recover {alihough more slowly now) and reached 188,11 I with 110,257 for worting aClivitLes. We ilTe panicularly delighied 10 see over I,O(M) visiis 10 outdoor Xiivslies ai our foresi 5helier. thi5 shows an even greater reach inio Ihe conimllnity for wider coimmuniiy recreaiional acLivitie5. It is especially rewarding to see ihat our focus on inclusivsiy hus started Lo g¢tt¢rare Significant increases in atieftdance by disabled people and people from disadvani&ged backgrounds. We have ¢ontiRued with our aim of developing funds for futUEt replacement arxt repair needs in regard io our ¢xisting 415seis so that we are able 10 provide confidence on our ability to provide our curren¢ assets without significant external support in the future. This will allow us io target developEtLent as the area where external support (along with OUT contribuiionl would be 50U8ht. I would like to th40k all ol my fellow Norton Sports Chariiy board members for their many hours of voluntary support to the chariiy, and on their behalf give thanks to all of our staff, Ihe 5t2ff of our CIC and all of the other contributOTS to the delivery of our tsbjeclive5 especially those involved in the dCtiVLties of the hosted clubs and partner organi5auon5. There are far too many deserving people t0 Single OUL irtdividuals bul the above achievements are vliimaiely solely down to the people associated with Norton Sports Charity. Looking forward to ihe next year, which is the last year of or current five year strategy, we wll aim io eompleie that sira*gy and look 10 Set another sirAtegy th further ¢hallenBes for the neKt five years. P> 3
Norton Sports Charity (A company limited by guarantee) Report of the trnste¢s (Incorporating the directors, report) for the year ended 30 November 2023 Finaneial review Reserves omdfiiliire plans The Irusiees have set a target level of Reserves of £150,(KK) in accordaftce with a docurnented reserves policy which will be regularly reviewed. As ai 30 November 2023. the actual level of Reserves was Close 10 £85.0(M) with Ihe intention beiTr8 to build ihetn up to Ihe target level 2n the future. Togeiher with elemenis of our UnFestricied Funds. this will give us sufficient erv&8 10 keep the facilities operational for a monih period should all funding and strean?s of income cease, Three tnonihs would give tiJn¢ ro seek new funding. develop new income stre$ and lake other appropriaie meastsres 10 ensure we continue to operaie. If these tne2sure5 were io prove unsuccessful, there would be suffi¢i¢nr lim¢ to wind up the Trust in an ord¢rly fashioti. The Tryst currently has Unrestricted Funds of £542,283 which ineludcs reserves, designated fU[S and working Capital. Al exce58 funds will be used for facility development and for oiher purposes aligned wilh the objects of the charity includiEJ8 to ensure ils, longevity. In practice. it 1$ unlikely that streanis of Itjcome would suddeTLly eease. They are more likely to run down. The Optimum cover is Consequenily more likely to suppon the Trust for a much longer period. duTsng which, steps can be taken to increa%e funds. We have Teviewed our financi81 ouilook for the next two years and our operational risks criteri2 and considertd the fvIre 10 be 8UStainable. Statement of tru5tees' responsibilities The trÈ]%tee% (who ale also directors of Norton Sports Chariiy for ihe purpose of company law} aft r&sponsible for preparing Ihe Trustees, Annu31 Report and th¢ financial S[annts in tsccordanee with &pplicable law and United Kingdom Generally Accepted Accounting Prdctice. Company law requires ihe trustees to prepare financial sLaiemenis for e2ch financial year which give a true and faiT view of the state of affairs of ihe charitable compaDy and of the incomang resources and application of resources. in¢ludinB Ihe income and expenditure, of Ihe charitable company for that period. ITh Preparing these fjnancial statements. Ihe tru51ees are required to.. select suiiable accounting polieies ind then apply rhem consistenily.. observe the methods and principles in the Charitie5 SORP. make judgements AJJd estitnaie5 that are r¢asonable and pjudeni; slaie wheiher applicable UK Accounting Standards have been followed. subjeci to any terial departures disclosed und explained in the fin4n¢ial sthiements., and prep%Jre the financial statetnetsts On the going concern basi5 unless li is inappropriate LO presume thai the ¢haritable eompany will contÉnue in operation. The uu51¢es are responsible for keeping proper aceountÉng records which disclose wth reasonable accyracy ai any tin the rinancial positiors of the charitable company and which enable them to ensure thai the financsal siaiements comply with the Companies Act 2(M)6. They are also responsible for safeguarding the assets of the chaTitable company 2nd hence for iaking reasonable si¢ps for the prevention and deteciion of fraud and oiher irregulariiies. P8gt 4
Norton Sports Charity IA Company limited by guarantee) Report of the tThtees (incorporating the director5, report) for the year ended 30 November 2023 Sm811 company provisions This repoll has been prepared in accordan¢¢ with the special provisions for small companies under Pan 15 of the Cornpanies Act 2(N)6. O behalf of the btsard D Mccullogh Trustee 29 July 2024 Page S
Norton Sports Charity (A company limited by guarantee) Independent examiner's report to the trustees on the unaudiled financial statements of Norton Sports Charity. I repon on rhe accounts of Norton Sports Charity for the year ended 30 November 2023 set out on pages 2 10 19. Respective respottsibilities of trust and independent examiner The charity's trustees (who are also the directOT5 of the company for purposes of Company law) are responsible for ihe preparation of rhe accounts. The tyusiees consider that an audit is not required for this year under seciion 144121 ofthe Charitie5 Act 2011 (the 2011 Act). and that an indepeodent exatnination is needed. It is my re%pon5ibiliiy 10 examine the a¢counis under section 145 of rhe 2011 Act, io follow the procedures laid down in the General Directions givtn by the Charity Commission under Section 145151(bl of the 2011 Aci, and to siaie whether particular Inatte15 have come to my attention. Basis of independent examiner's sthtement My examination was carried out in accordance with the General Direeiions given by the Charity Cornmissson. ex4Lminaiion includes a review of the accounting records kept by rhe charity a comparison of the accounts prescnied with Ihose re¢oids. Et also includes consideraiion of any unusual iiems or disclosures in the accounts, and seekin explanaiions from you US ITusiees conceming any such maiters. The predureS undertaken do rtot provide all Ihe evidence that WQLtld be required in an audit And consequently no opinion i$ givea 8$ 10 whether the accounis present a '[e and fair view, and the repon is lirniied to those Thtiers sei Out in the statettLent below. Independent examlner's statetnent In ¢onneclLQn wilh my examination. rto maiter has come 10 my atienliora.. (]} which gives me reasonable eau.se io believ¢ thai in any maierial respect the requirements= 10 keep prtsper accounting record8 tn accordance wilh section 386 of the Companies Aci 2006; and io prepare aecounts whi¢h accord wilh Ihe accounLing records. comply with the a¢coJnting reouiretnents of seciion 396 ot the Cornpanies Act 26 and with the Thethods and principles of the Siatement of Recommended Practice.. kncounling dnd Reponing by Charities have not been tmet: or (ill 10 which, in my opinion, aitelltion should be drawn in order io enable a proper understanding of the accoun15 10 be rra¢hed. C S Gorman FCA. FCCA Independent examiner 384 Linthorpc Road Mlddlesbrough Cleveland IS5 6HA 29 July 2024 Page 6
Norton Sports Charity (A company limited by guarantee) Statement of financial activities (ineorporating the income and expenditure account) For the year ended 30 November 2023 UDrcslrictcd Restric¢cd bjnds funds 2023 Total 2022 Total Notes Incoming resources Incoining resources from generaiing funds.. Voluntary inco]Re Aciivitie5 for generating funds 259,228 89,887 118.086 23 377.314 89,910 401,745 80,440 Total Incomlng resources 349,115 118,109 467,224 482,185 Resources expended ChaFiiable lcuviiies Governance Costs 159,860 62.310 74.349 82,646 234.209 144,956 219.005 140,813 Total resources expended 222,170 156.995 379.165 359,818 Net incomingl(outgoing) resources before transfers 126,943 (38.8861 88.059 122.367 Trnnsfer between fttnds (62,4721 62.472 Net ineomel(expenditure) for the year 64.473 23,586 88.059 122.367 Other recognised ggins and losses Gain5 on revaluaiion of invesiment asset$ 65.000 65,000 Net movement in funds 129.473 23,586 153,059 122,367 Toial funds brought forward 412.810 1,478,237 1.891,047 1,768,680 Total funds carrfied forward 542,283 1,501,823 2,044,106 1.891,047 Thc notes on pag¢s 10 to 19 form an Integral PArt olthc5e fJnunciAI slatcments. Pagc 7
Norton Sports Charity (A company limited by guarantee) Balance sheet as at 30 November 2023 2023 2022 Note5 Flxed assets Tangible assets InvestNKnts 12 13 1.602.874 215,001 1,610.018 150.001 1,817,875 1.760,019 Current assets Debtors Cash ai bank and in hand 14 39,637 276,163 53,577 205,650 315,800 259.227 Creditors: amounts falling due within one year 15 150,3541 (54,2411 Net current assets 265,446 204.986 Tot21 assets less eurrent liabilities Creditors." amounts falling due after more one year 2,083.321 1,965,(K)5 139.215) 173,958) Net assets 2.044,106 1.891.047 Funds Restricied in¢oTne funds .501.823 1.478.237 Unresiricted sncorne funds= Unr&slricted income funds Fatr value reserve 380,7(KI 161,583 316.227 96.583 Total unresiricted income funds 19 542,283 412,810 Totsl funds 2.044.106 1.891,047 The Balance Sheei continues on the following page. The notes on pagos 10 to 19 form an integral part of tht5e fin4n¢iAI statements. Page 8
Norton Sports Charity (A company limited by guarantee) Balance sheet (Continued) Trustees statements required by the Companies Act 2006 for the year ended 30 November 2023 For the year ending JO November 2023 the company was entitled to exemplion from audit under section 477 of the Companies Aci 2006 relaiing 10 small companies. Diwtors, responsibilities= The rnembers have not required Ihe ¢ompony io obmin an audii of lis financial siai¢menis for rhe year in question in ac¢oidance with stclion 476., The directors acknowledge their responsibilittes for ¢omplying with (he requiremenES of the Act wilh respe¢1 to accoutkting records and the preparation of financial sratemenLs. These financial siatements have been prepared Èn accordance with Ihe provisions applicable to companies subject io the 5tnall eotnpanies, regime. The financial staiemenis were approved by the board and auihoris¢d for issue on 29 July 2024 uDd signed on its behalf -111 '(, D Mccullogh Tstee P W Frost Trvslee The notts on pages 10 to 19 form Integral part of these financial statemen Page 9
Norton Sports Charity (A company limited by guarantee) Notes to financial statements for the year ended 30 November 2023 General Inforniation The Company 1$ a privaie company limited by guarantee, regisiered in England and Wal&8 and a registered charity ip England and Wales. The address of rhe r¢gt8iettd office is 74 Siaiion Road. Norton, Siockton-on-Tees. TS20 IPE Statement of complianee These financial siaiements have been prepared in eompliance wiih FRS 102. The Financial Reporting Standard appli¢able in the UK and Ihe Republic of Ireland,. the Siaiement of Recommended Practice applicable to charities preparsng iheii accounts In accordance wilh the Financial Reponing Standard appltcable in the UK and Republic of Ireland (FRS 1021 (Charities SORP IFRS 1021) and the Chariiie5 Aci 2011. Accounting policies The principal account2ng policies llre summaris¢d below. The accounting policies hove been applied consisiently throughout Ihe year and the pieceding year. 3.1. Basis of &ccouttting The financial statement8 have beeo prepared on the historical cost b&8i.8, as Jnodifjed by rhe revalu&tion of cenai financi818%5ets and liabiliries and Investment properties measured at fair value rhrough income or expcDdiiure. The finala1 5taLements are prepared in.5terling, which is the furiODa[ ¢urren¢y of the eori¢y. 3.2. Disclosure exemptions The entity 8atisfies the ¢Tiieria of being a qualifying entiÈy as defEned in FRS 10? As such, advaniage ha5 been ken of the following dtsclosur¢ exempiions available under paragraph 1.12 of FRS 102. Disclosures in respect of financidl instruments have not been presented. 3.3. Judgements and key sources of estlmation uncertainty The preparnLion of the fJndnciaS statements requires managemeni 10 make jud8ements, estimates and assumptions that affect the amounts repvrlcd. The%e estimaie5 and judgeniertts are continually reviewed and are based on experience and other factors. 3.4. Fund accounting Unrestyicied funds are available for use at the discretion of the knvsiees to further any of Ihe Charits purposes. Dessgnated funds are uttre5tricied funds eartnÈTked by the Tn]siees for particular future project or cotnmitmtnr. Restricted funds are subjected io restrictions on iheir expendiiure declared by ihe donor or throllgh the ¢¢rms of an appeal. and fall into onc of Iwo SUclaSses.. restricted income funds or endowment funds. Page 10
Norton Sports Charity (A company limited by guarantee) Notes to financial statements for Éhe year ended 30 November 2023 3.5. Ineoming resources All incoming resources are included in the staiemeni of fjnancial activities when entiileinent has passed io the chariiy; it is probable Ihai the economic knefits associaied wilh the transaction will flow 10 (he charity and the amount can k reliably measured. The following specifjc p)licies are applied io particular eaiegories of income.. inco frofft donutions or 8ranis is retO8nised when there Es evidence of eniitletneni io the 8ift. r¢ceipi 1$ probable and its arttoJni Can be meastsred reliably. legacy income is reco8nised when receipt is prnbable entitlement is established. In¢0 from dorjated goods is measllr¢d at ihe fair value of the goods unless this is tmpractical 10 measure reliably. in which case the value 15 derived from the cost to the donor OT the estimated resale value. Donated facilities and services are recognised ifi the accounts when received if the value can be teliably measured. No amounrs are included for the contribuiion of general volunteers. income from contracts for the siipply tsf services i% recognised with the delivery of the contracted servsee. This 1$ classified as unrestyicted funds unless there is a ¢oniractUdl requirement for li ro be spent on a particular purpose and returned if unspenL, in which case li fftay be regarded a5 resiricied. Grants. inclllding 8rani% for rhe purchase of fix¢d asseis. are recogni5ed in full in the Statement of flnaneial activities ITr the yeGr itl which they aFe rece2vable. 3.6. Resources expended Expendiiure is reeognised on an aecn2als basis as a liabtltty is incurred. ExPerlture includ&s any VAT which cannot be fully recovered, arid is Classified under headillgs of the statement of financial a¢livilie.s io which il relates.. experKliiure OTr raising funds includes the costs of all fundra2sing aciivitie5, events. non-charitable trading activities. and the sale of donated goods. expenditure on eharitable activities includes all costs incurred by ll charity in ondertaking activifies that further i. ¢haritable aims for the beneflt of its beneficiaries, including those support costs and ¢osts r¢laring ro the governCe of Ihe ch8riiy apponioned 10 Charitable acLivities. oiher expendirure inclvdes all expenditure thai is netther r¢lated raising fund5 for ihe chaiity nor pan of its eKpertdilure on charitable activities. All costs are allocated to expendiiure Categories retleciing rhe use of the resource. Direct cosis aiiribuiable to a single &ctivity arc allocated directly lo thai aeiivity. Shared costs are apportioned between the activities they conrribuie to on a rtastsrb1e. juslifiable ttnd consisteni basis. Page 11
Norton Sports Charity (A company limited by guarantee) Notes to financlal statements for the year ended 30 November 2023 3.7. Tangible fixed assets and deprecigtion Tangible fjxed asseis are Slaied at cost les5 accumulated depre¢iation. Depre¢iaiion is provided at rates calculated to write off the cost or valuation l¢ss re$iduaS value of e2ch 2ssei over its expected ttseful life, as follow5.. [2nd and buildin85 Plani and machinery 3.5% straight line 10% 5trai8ht litle 3.8. Investments Investments held as fixed assets are revalued at their fair value al the balance shect date and the gatn or loss iaken to the siatement tsf finan¢ial activities. 3.9. Defined contribution pension schemes The pension Costs charged in the finan¢ia] siai¢menis Tepresent th¢ contribution payable by Èhe chariiy during Ihe year. Voluntary income Unrestrieted Restrieted funds runds 2023 TotAI 2022 Total General donations Gift Aid Gift Aid donaiion Gifts in k2nd Grants Covid-19 Granis Sport England Clubhouse Grant Interesi Levies Norton 'Pock¢i$ of Nature, Partnership 12,387 242 188.581 28.600 6,400 40.987 6.642 188,581 58.439 6,550 195,487 47,087 6.210 1,000 1.000 4,886 4.886 57.018 78,2(X) 6.757 81,158 57.018 78.2(K) 259.228 118.086 377,314 401.745 Activities for generating funds Unreslrict¢d RtrIcted fuiMIs funds 2023 Total 2022 Total Fundrdislng ineome Fseld income JnvestTneni propeny income Renial in¢om¢- CIC Bank interest re¢¢ivable 1.628 48,888 6,670 32,1X)O 701 1.628 48.888 6,670 32,000 724 2.584 40,283 5,573 32,000 89.887 23 89,910 80.440 Page 12
Norton Sports Charity (A company limited by guarantee) Notes to financial slatevnents for the year ended 30 November 2023 Costs of charitsble activities Unr¢striet¢d Restricted runds fund5 2023 Total 2022 Totsl Wages & salaries Grouod8 & upkeep Coaching & other expendiiure Profes8Lonal fees Granis Staff training 111.848 43,628 17.798 129.646 43.628 2,644 122.785 29,837 2,275 2,569 01.539 56.551 56.551 1,740 1,740 159.860 74.349 234.209 219,(K)5 Governanee costs Unrestrieted Restricted funds fundg 2023 Total 2022 Totsl Rates & water Light & heat Investment property expens¢s In8urance Office expenses Di5llllowed VAT Accountancy fees Profe%siooal fee$ Interest- Bank loans & overdraft Interest- Sport England Deprecilltion & itnpairnRni Profirlloss OTr disposal 8,699 15,423 2.268 10,284 3,513 15,100 3.363 795 620 1,026 9,319 16,449 2.268 12.913 3,513 Is,100 3.363 795 17,370 860 12,821 2,413 13,743 2,933 489 1.017 6,757 74,507 2.629 4,886 73,485 4.886 77.300 1950} 3,815 (9501 62,310 82,646 144,956 140.813 Net Ineoming resourc for the year 2023 2022 Net incoming resources is Siaied after char8in8= Depwiation and other amounis wriiien off iangible fixed assers 77,3(K) 74.506 Page 13
Norton Sports Charily (A company limited by guarantee) Notes to financial statements for the year ended 30 November 2023 Employees Employment costs 2023 2022 Wages and sa11¢S Social security costs Pension cos 125,435 2,126 2,085 18,251 2,497 2.037 129,646 122,785 No employee received ernolumenls of more than £60,000. Number of employees The avernge monthly numbers of employe&s (including the trustees) during the year. calculad on ¢he basis of full Lime equivaletkls. was as follows.. 2023 Number 2022 Number Direct ¢hariiable expendiiure Mllna8etntnt and 2dmintsir&tion io. Pension costs The company operate5 a detined coniributton pension scherne in respect of the employees. The scheme and ils awEs are held by independent tnanager8. The pEn8ion charge represents contributions due from Ihe company and was as follows.. 2023 2022 Pension charge 2,085 2,037 11. Taxatlo The chaTJIy'5 activitie5 fall within the excmpliofis afforded by the provision5 of the Income and Coryoialion Taxes Act 1988. Accordingly, there is no taxation ¢harg¢ in these accounts, Page 14
Norton Sports Charity IA company limited by guar8ntee) Notes to financial statements for the year ended 30 November 2023 Land and bulldlngs Plant and freehold rnachinery 12. Tangible fIxed assets Total Cost At l December 2022 Additions Disposals 2,038.285 61,295 29,485 2.067,770 10,661 71,956 12.0(M)I 19.0001 At 30 Novetnber 2023 2,099,580 38,146 2,137.726 Depreciation At l December 2022 Charge for the yt On di%posals 449.273 73.485 8.479 3,815 12001 457.752 77,300 (2001 At 30 November 2023 522.758 12,094 534.852 Net book values At 30 November 2023 .576.822 26,052 1,602.874 At 30 November 2022 1.589,012 21,006 1,610.018 Subsidiary undeTtsking5 Investment shares proptrtios 13. Fixed 2sset investments Tothl Valuation Ai l December 2022 RevaSuatioN8 150,0(J) 65.000 150,001 65.(X)O AI 30 November 2023 215.000 215,001 Hisiorical cosi as ai 30 November 2023 53.417 53,418 All fixed asser invesitnenis are held at fair value within the United Kin8dom. The investsneni propeny wo$ professionally revalued at £215,(K)O on 22 August 2023 by Thomas SteY¢nson LLP, Charieted Surveyors. Pagc IS
Norton Sports Charity (A company limlted by guarantee) Notes to fRnancial statements for the year ended 30 November 2023 13.1. Holdings of 20% or more The company holds 20% or more of the share capital of the following companies= Country of rcgistratlon or iDcorporatton Proportion Shares held of shares class held Nature of busintS5 Subsidiary undertaking Norton Sports and I£isure Profftolions CIC United Kingdom Comrnunily Interest Cornpany Ordinary loo% The aggregate amOLTnl of capital and reserve% and the results of these underiaking5 for the lasi jrlevani financial year were as follows.. Capital and r¢serY¢s Proflt for the year Nonon Sports and E£2sure Promoiions CIC 4,757 Debtors 2023 2022 Trade debiors Amount% due from %ubsidiary and a550eioted undertakings Other debtors 11,435 9.068 19.134 12.317 30.487 10,773 39,637 53,577 Is. Credltors: amounts falling due within one year 2023 2022 Other loans Oiher taxes and social stturily Oihei creditors Accrua15 and deferred income 37,5Th) 2,037 413 10,4(14 37,500 1.790 14,951 50.354 54,241 Page 16
Norton Sports Charity (A company limited by guar0nt¢e) Notes to financial statements for the year ended 30 November 2023 16. Creditors: amounts falling due after more than one year 2023 2022 Oiher loan 39.215 73,958 On 30 September 2020. a loan of £IQO,(YY) was advanced from Sporting Capiial Limiied. The102n c2fried a twelve month capital repaYnnI holiday. to be followed by 48 equal capital repayments. The lender and born>wer IL8r¢ed ihat ihe intere51 charges of £25,217. tO8ether wilh the arrnngeinenl fec of £2,000 will be ttpaid by the borrower via a non-refundable grant prepayrnent thai was forwarded to the chariiy by Sport England. This intere81 grant will be released over thc duration of the loan term agreement. On 29 Janiiary 2021 dn unsecured loan of £50,¢YJO was advanced from the Co-op Foundation. Under The rerms of Ihe loan, Ihe full amount musi be repaid in full within five years of the annsversary of the sttifial drawdown. with an initial twelve month capiial repayment holiday being in place. No in*iest will be charged on the loan. 17. Analysis of net assets between funds Unrestricted Rwtrlcted funds funds Total funds Fund balances at 30 November 2023 as represettted by: Tangible fixed as5eEs Inves[nn( &5sets Currenr asse1% 26,052 215,(X)I 310,2?7 (8,997} 1,576,822 1.602,874 215,1 315.800 (50,3541 {39.2151 5,573 141.3571 139.2151 Long-iern) liabiliiies 542,283 1.501,823 2.IJ44,IL Pagc 17
Norton Sports Charity (A company limited by guarantee) Notes to finaneial statements for the year ended 30 November 2023 18. Restricted funds At l December Incoming Outgolng 2022 resources resourc& Transfers At 30 November 2023 Resiricted Fund Clubhollse Refurbishmeni AGP Hockey Pitch National Lottery Community Fund Grant Spon England I Sponing Capital Clubhouse Norton Pocket of Nature" Partnership Co-op Foundation- Appret)ti¢elForesUAGP Forest Shelter 826,532 180,635 191,000 69,383 129,404 142,6301 (8,7801 18,0321 12,6251 112,4821 178.6241 23.748 15,149 132 807.650 195,331 183.100 66,758 146.808 8,333 21.553 78.223 8.333 282 80.600 {2821 15.392 10.(x)o (3.8161 102,176 1,478,237 118,109 {156,995) 62.472 1.501.823 Puryoses of restricted funds The Re*1Cl¢d Fund along with the clubhou Refurbi%htnenl Fund represen1% the net book value of certain iangible fixed as8ets, with the oiher nei book valu¢8 of the remaining &ssets being repre5enied by the individual fonds &% detailed below. Each year the movemeftt in Lhe fund represenis the movemeni an the net book value of tattgible fixed asseis. The AGP Hockey Pitch Fund reprer£nL% fundin8 rcceived Specifically for the developitteni of an AGP pai¢h wilh additional funding being provided by meaN5 of a bank loan, in CordanCe with the objectives of the charity. The re.stricted fund reprGsenis the net book value of the tangible fixed Jssefs. Each year the mtsvemeni in the fund repre%enLs ¢he movement in the net book value of tangible fixed assets. Each of the fuRd5 received from the National LoELery Cotnmutlity Fund Grant 2nd SpDrl England I Sporting Capital Clubhouse Fund represent ftsnding received %pe¢ifitally for the tlubhouse development with additton21 funding bein8 provided by means of a bank loan. other loans ond donations. in accordance with the objective5 of Ihe charity. Each year the tnovernent Ihe fund.% represents the movements in ihe nei book value of the clubhouse redevelopment and the 2%40ciaied loan interesi charges. The Norton "Pocket of Nature" Partnership Fund represetLlS funding received from The National Lottery Gtafti8 for Heritage Fund in relation to a projeci ihai will bring iogether landowners and community groups , 10 ¢r¢ote a network of nature reserves, wildlife corridors, woodlands and green 8Psices to enhance biodiversity and increase access to nature ihrouÈhoul Norton. The projeci will bring iogeiher a pannership of communiry led groups in Norton io highlight the importanc¢ of access to go(xi quality green spaces for health and well-beÉn8. Norto Sports Charity held snonies to be distributed arnong5t Ihe ¥ariou8 partners of the project wilh ihis disiribuiion being completed in 2023. The Co-op Foundation- ApprenticelForestlAGP Fund represents funding received from rht Co-op foundation to allow coa¢hing to those with disabilities and others from Ihe lo¢al ¢ommuniiy, construction of a new building 10 service our Community Foresi and fund work on communiiy orienthred incom¢ generating projeets. The Forest Shelter Fund r¢pr¢senis ntch fuTrding received from Sport Engla[ and the associated fundin8 received from a Crowdfunding campaign, plus a gift in kind grant payinent inade by Impeius direcily to the company constyuctinB the forest shelter. The restricted fund rep¥es¢nts the ner bi)ok value of the Langible fixed assets. Eaeh year the movement in the fi]nd r¢presents the tnovement in the nei book value of the For&st Shelter. Pase 18
Norlon Sports Charity (A company limited by guarantee) Notes to financial statements for the year ended 30 November 2023 19. Unrestricted funds At l Dte Ineomln8 Outgoing 2022 rwurces resource5 Transfers Al 30 Now 2023 Gains and losses Unrestricted Fund 262,810 Station House- fair value reserve 96,583 Station House 53.417 Workin8 capital AGP Clubhouse Cricket nets louidoorl Cricket school Floodlighis Football 3G Footbcill pavillion Infra51ru¢iuTe Machines Squ&sh courts Tennis courts 349,115 (222,170) (254,046} 135.709 161,583 53,417 25.(KKI 106,038 lo.8 65,OLYJ 25,000 106.038 10.(M)8 10.000 3.005 3,IX)5 6,511 6.511 5.506 2,502 3,000 10.000 5,51kS 2,502 10,IMJo 412,810 349.115 1222,170) 162,4721 65,0(K) 542,283 Purposes of unrestricted funds The unresrricted fund represents those funds which the trustees are free io use in accordance with the chdriiable objectives. It Includes General reserves held in accordance with the Reserve5 PDlicy of the Chariry £Trnd a nuinber of Designated fund% which are monie5 earmarked lor niajor maitttettance. refurbi%hmenl or developtllent of parti¢ulur facilities ai specific iiine.s in the fviure. 20. Co¥llpany limited by guArantee Norton Spons Charity is a company li[ftid by guaraniee and aceordtlJ8ly does fioi have a share Ciipiial. Page 19