Charity number: 1154688 Company number: 07428216 Norton Sports Charity (A company limited by guarantee) Trustees, report and financial statements for tb¢ year ended 30 November 2024
Norton Sports Charity (A company limited by guarantee) Contents PAge L¢gal and administrative inforniation Trustees, report Independent examiners, report Statement of financial activilies BAlance sheet Not¢5 ¢0 the financial statements 10-20
Iyorton Sports Charity (A company limited by gu8rantee) Legal and administrative information Charity llumber 1154688 Company registrgtion number 07428216 Business address 74 Statiort Road Norton StocktOnn.Ttt$ TS20 1 PE Norton Sport5 Charity Registered olet 74 Station Road Norton Stockton Oll Tees TS20 1 PE Trustees W R Pickersgill P W Frost D Mccullogh S Andrcws C L Frost A C Johnson N R Collin5 J Milner Appointed 9 De¢emb¢r 20?4 Accountants Chipch&se ManneTS 384 Linthorp¢ Road Middlesbrough TS5 6HA Page I
Norton Sports Charity (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 30 November 2024 The tswstees present their report end ihe financial statements for the year ended 30 November 2024. The trustees. who are also directors of Norton Sports Charity for the purposes of company law and who served during the year and up 10 the date of this rq)ort are set out on page l. Structure? governanee and management Gt>veiitirtg do¢iimenl Norton Sports Charity is an incorporated charity, ¢ODS¢ituted under the Companies A¢1 and as such is governed by its Memorandum and Article5 of Association. Governing body L7nd orga1715(7fiollal managenienl The policy and general man2g¢meni of the afyairs of the charity are controlled by the tnjstees, who are also referred to a5 the directors in accordance with Ihe company law. The trustees are responsible for ensuring that ihe Charity keep% proper accounting records that disclose with reasonable accuracy. at any time, the financial posititsn of the Tnjst and to enable them to ensure that the financial statements comply with charity l#w. The trustees are also r¢spon5ible for safetruarding the assets of the Trust and for taking reasonable steps for lh¢ pr¢v¢ntion and detection of fraud apd other irr¢gularities. The director5 Ineet on a monthly basis. Trusiee Iraining New trustees are inducted into the working environment of the charity, and also of the orgaftisation as a registered charity, including trustees, policy and procedures. Risk manageiiie171 The trustees have. from time to time, conducted its own review of the major straiegic, business and operational risks to which the ¢harity is expos¢d. Tlie trustees confimi that Systems hav¢ been established to nionitor and control ihese risks to mitigate any impact they may have on the Charity. Objectives a¢tlVAties The Irustees can confinn that ihey have referred to the guidance contained in the Charsty Commissiop'5 gener31 guidance on public benefit when r¢viewinè the charity's aims and obje¢tives. Aclivilies ofihe churity The activities of the charity ar¢ the provision of facilities for sporting, reereational and social activities. Page 2
Norton Sports Charity (A company limited by guarantee) Report of the trustees (ineorpor2ting the directors, report) for the year ended 30 November 2024 Achievements gnd performanee Choirmajj s repoi'l Our 2024 year can be characterised as one of a continued high level of delivery of sporting, creatIonal and social facilities to the whole community and the commencement of a serie5 of fa¢Élity dev¢lopmeni projects. Both of thes¢ have built on our UCh stronger financial foundations in¢luding through the continued excellent finan¢ial perf0mnCe of our Community Interest Company and a150 through our success in securing grants and loons to finance the projects. The PToje¢ts themselves were id¢ntified through an independent business planning process which we carried out with our local cornmunity early in the year. Our focus remain5 on the eight actÉon areas within our Strategic plan as follows.. Fundamentals Heal1. safety and safeguarding Inclusivity. equality and diversity Eff¢¢tive staifing #nd workload management Sound finances Increased asset usage Programmed asset maintenaD¢¢ Fa¢ilsty development projects. Particularly good progress was made on finances and projecrs. With respect to the latter, a community garden and new dedicated 8Tchery range were completed in ?0?4 and significant proJess made with preparations for seven further projects which are planned for wmpletion by November ?025. We have fall¢n sornewhat behind where we had hoped to be on human resources matters and a$5et Usage metrics which we plan to address in 20?5. Highlighis within the other action areas irtcluded additional use of our facilities by youn people wilh disabilities and also improved mainienance and quality of our playing surfaces for football. Preliminary footfall daia for ?0?4 indicates that we ¢ontinue to be a major hub for sportin& recreational and social aciiviiies within the borough of Stockton-on-Tees and the surrounding area. There was some adverse impart on fotstfall from poor weather early in the year i)ut there were som¢ upsides later in the year. I would like io thank my fellow Norton Sports Charity directors for their voluntary sUPPOrt to (he charity. and on their behalf give thanks io all of our staff, the staff of our CIC and all of the other contributors to our contiftued success. There are far too many deserving people to single out individuals bui the above achievemenis are ultimately solely down to the p¢ople associated with Norton Sports Charity. Looking foThvard io our 2025 year. which is the12St year of our current four year strategy. we will aim to wmplete as much of that strAtegy as possible oiven that as noted abov¢ we are somewhai behind where we would have expected to be in some of our aciion area5. We will liaye 2 particular emphasis on completirtg facility development projects including ones relating to our community clubhouse. floodlightints and changing and prdetice fxcilities for cricket. Also, we will prioritise recruitment and induction of new directors 2nd coniinue the extension of the use of our facilities to all in th¢ Ial community includino those explicitly mentioned in our objects. Finally and very irnportanily, we will formulaie oui. next strategic plan eovtring the five years io and including 2030 whsch will build on the trall5fomiation that has been effected over the course of the Current strategy. Page 3
Norton Sports Charity (A company limited by guarantee) Report of the trustees {incorporating the directors, report) for the year ended 30 November 2024 Finantlal review Reswwes andfiiliii'e plans Following the annual review. the trustees have set a target level of Re5erve5 of £250.000 in accordance with our documented policy. The in¢reas¢ of £IOO,O(M) in the target level was required for ihe following reasons: our costs are incTeasing the ReseNes effectively cover both the Charity and the CIC and the £250,000 would cover approxirnwely six months costs -we will be drawing down on our unrestrict¢d designated fi]nds as we spend Money on facility development through to November 2025 the cost of any capital related OppornItIeS 1$ likely to be higher em¢rgeRcies given tliat we had £85,616 in General Re5¢rves on 30th November 2024, the target level of £?50,000 better represents where we are now l.¢. Still w¢ll short of where we would like our reserve5 to be the r¢serves are for opportunities as well as As ai 30th Nov¢mber ?024. the actual level of Reserves was £85,610 with the intention being to build these up lo the target level in the fuiure. Together with elements of our Unrestricted Funds. this will give us sufficient reserves to keep th¢ facilities operational for a six month peri(Id should all fvnding and slreams of income cease. Tiiree months would give time to seek new fvnding. develop new income streams and lake other rn¢asures to enstsre we corltinue to operdte. If these measure5 were to prove unsuccessful. there would be time to wind up the Chartty in an orderly fashion. Norton Sports Charity currenrly lias Unrestricted Funds of £605.973 which includes Designated Funds {£?27,796), Investment Property including Fair Value Reserve (L?15,000), Reserves (£85.616}. Tangible Fixed Assets 1£30.184), Working Capital Cash {£25,000) and Other Net Workiftts Capital (£22,377). This repre5¢nts an increase of £63,690 over the last year primarily as a result of drawdown5 for expenditure on facility development projetts of £7.500 being considerably less than Additional Desigllated Funds being put away fr*r future expendiiure against defined proje¢ts of £63,500. All excess funds will be used for facility development and for other purposes aligned with the objects of the Charity including to ¢nsllre it5, longevity. We liaye reviewed OUT financial outlook for the next six years and our operational risk5 triieria and considered the future to be sustainable. Pag¢4
Norton Sporls Charity (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 30 November 2024 S¢*temenl of trystees, responsibilities The trustees {who are also direciors of Norton Sports Charity for the pUOSe of Company law) are responsibl¢ for preparing the Truscees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepred Accounting Practice. Company law require5 the trustees to prepare financial statements for ¢h financial year which give a true and fair view of the state tsf aff8irs of the eharirable company and of she irtcoming resources and application of resources, including the income and expenditure. of the ¢haritable company for that period. In preparing these financial statements, the trustees are required to- select suitable accounting policies and then apply them consi5tently,' observe th¢ methods and principles in the Charities SORP; make judgements and estimates thai are reasonable and prudent. state whetl?¢r applicable UK Accounting Standards have beeft followed, 5ubj¢¢t to any material departu5 disclosed and explained ID th¢ flnancial statements: and PTepar¢ the fsnanci21 statements on the going concern basis unless it is inappropriate to presume that the ¢haritable company will conrinue in operAtion. The tjustees are responsible for keeping propeT a¢¢ounting records which dis¢lose with reasonable accuracy at any time the financial posltion of the charitable company and which enable thern to ensure ihat the financial 51at¢menrs comply with the Companies Act ?006. They ar¢ a150 responsible for safeguardinu the assets of the charitable company and h¢nce for taking rea50nabl¢ steps for the preveiition and detection of fraud and otlier irregularities. Small company provisions Thi5 report has en prepared in accordance with the spe¢ial pmvisions ftir small companies under Part 15 of the Companies Act 2006. On behalf of th¢ boaril N R Collins Trustee 20 March 2025 Page S
Norton Sports Charity (A company limited by guarantee) Independent examiner's report to the trustee5 on the un&udited financial statements of Norton Sports Charity. I report on the accounts of Norton Sports Charity for the year ended 30 November 2024 set out on pages 2 to 20. Respective responsibilities of trustees and independent examiner The charity's trusiees (who are also the directors of rhe company for pujposes of company law) are responsible for the preparydtion of the accounts. The trustees consider that an audit is not required for this year undeT Section 144{2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the 201 l Act, to follow the procedures laid down in th¢ General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act, and to stote whether particular matteT5 have ¢ome to my attention. Basts of independent exsmÉner's ststement My examination was carried out in accordance with the General Directions given by ihe Charity Commission. An examination ineludes a review of the accounting records kept by the Charity and a comparison of the accounts presented wilh those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees eoncerping any suth matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is oiven a5 to wliether th¢ a¢counts present a 'true and fair view, and the report Is limsted to those matters set out iii the statement btlow. Indepen(lent examiner's statement In conne¢tion with my examination. no matter has come to my attention: (i) which gives me reasonable cause to believ¢ thar in any material reSpt th¢ requirements.. to keep proper accountinu records in accordance with section 386 of the Companies Act 2006- and to prepare a¢coun15 which accord with the accounting records, cornply with the accounting requirements of section 396 of the Companie5 Act ?006 and w&th the methods and principles of tlie Statement of Recomtnended Practice.. Accouniing and Reporting by Charities have not been met,. or {iil io which. in my opinion. attentlOD should be drawn in order to enable a prop¢r understanding of the accounts to be reached. C S Gorman FCA. FCCA Independent examlner 384 Linthorpe Road Mlddlesbrough Cleveland TS5 6HA 20 M8rch 2025 Page 6
Norton Sports Charity (A company limited by guarantee) Statement of finan¢i812etivities (ineorporating the income and expenditure a¢¢ount) For the year ended 30 November 2024 Unrestricted Restrict¢d funds funds 2024 Tot21 2023 Total Notes Ineomlng resources Incoming resources from generating funds.. Voluntary incom¢ Activities for generdtino funds 250,914 125,4?3 49,934 300,848 125,423 377,314 89,910 Total incoming resources 376,337 49.934 420,271 467.224 Resources expended Charitable activities Governance costs 211.052 81,594 3,443 84,070 214,495 165,664 234,209 144,956 Total resources expended ?9?.646 87,513 J80.159 379,165 Net in¢omingl{outgoiTrg) resources before transfers 83,691 (37,579) 46,11? 88,059 Transfer between fund5 (20.001) Net incomcl(expenditure) for the year 63.690 (17,5781 88,059 Other reeognised gains and losses Gains oil revaluation of investment assets 13 65,000 Net movement in funds 63,690 (17.578) 46,112 153,059 Total funds brought forward 542,283 1.501.823 2,044,106 1,891.047 Totsl funds earned forward 605.973 1,484,245 2.090.218 2,044, 106 The note$ on pages IQ to 20 form iRtegral part of these financial statements. Page 7
Norton Sports Charity (A colnpany limited by guarantee) Balance sheet as at 30 November 2024 2024 2023 Notes Fixed asstts Tangibl¢ 8SS¢t5 Inv¢stm¢nts 12 13 1.551,928 215,001 1,602,874 215,001 1,766,929 1,817,875 Current assets D¢btors Cash at bank and in hand 14 41,335 39.637 276,163 386,639 315.800 Credltors: amounts falllDg due within orte yeAr (59,184} (50,354) Net eurrent assets J?7.455 265.446 Total assets less ¢urr¢nt 2,094,384 2,083,321 Creditors: amounts fallKng due after more than one year 16 (4,166) (39,?15) Ne¢ assets 2.090.25 8 2,044,106 Funds Restricted income funds 1,484,?45 1,501,823 Unre5triclEd income funds.. Unre5trieted income funds Fair value reserve 444,390 161,583 380,700 161,583 Total unrestricted income funds 19 605,973 54? ?83 Total funds 2,090218 2,044.106 The Balance Sheet ¢ontinues on the following page. The notes on pages 10 to 20 form an Integral part of these financial st8tetnts. Page 8
Norton Sports Charity (A ¢ompany limited by guarantee) Balance sheet (continued) TStee5 Statements required by the Companies Att 2006 for the year ended 30 November 2024 For rhe year ending 30 November 20?4 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating 10 small companie5. Directors, respon5Lbilities'. The m¢JMbers have not required the company to obtain arj audit of its financial statements for the year in question in accordance with section 476- Th¢ director5 acknowledge their responsibilitie5 for complying with the requirements of rhe Act with respecl to accounting records and the prepardtion of financial statements. These finan¢ial statements have been prepared in accordanc¢ with the provisions applicable to companies subject to the $IalL companies, regime. The financial starements were approyed by the board and authorised for issue on 20 March 2025 and signed on its behalf by N R Collins Trvstee P W Frost Trnstee The nol¢s on pages 10 to 20 form an integral part ofthese finan¢i&l Statements. Page9
Norton Sports Charity (A eompally limited by guarantee) Notes to financial statements for the year ended 30 November 2024 General Infom#lion The company is a private company limited by guar0nte¢, registered in England arkd Wale5 and a registered charity in Eng12nd and Wales. The address of th¢ registered office is 74 Station Road, Norton, Stockton-on-Tees. TS20 IPE Statement of compli¥n¢e These finart¢ial statements have been prepared in compliance with FRS 102, 'The Financial Reporting St8ndard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practi¢¢ applicable to charities preparing their accounts in accordance with the Financial Reporting Starmlard applicable in the UK and Republic of Ireland (FRS 102) Icharities SORP (FRS 102)) and the Charities Act 2011. Accounting policles The principal ac¢ountiftg policies are summari5ed below. The accounting policies have been applied ¢on5É5tently throuohout (he year and the preceding y¢8r. Basis of accounting The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties me&gured at fair value thrOuTh income or expenditure. The financial statements are ppared in sterling. which is the fiinciional currency of the entity. Disclosure txemptions The entity satisfjes Ilie criteria of being a qualifyitt8 entity as defined in FRS 102. As such, advantage ha$ bee iaken of tlie following distlosure exemptions available under paragraph 1.12 of FRS 10? Disclosures in respect of financial instruments have not been pi'esented. 3.3. Judgements and key sources of estimation uncertainty The preparation of rl)e financial statements r¢quires management to make judgements. estimat¢5 and assumptions that affect the amounts reported. These ¢stimates and judgem¢nts ar¢ continually reviewed and are based on experience and other factors. 3.4. Fund accounting Unrestri¢¢ed fund5 are available for use at the di5¢retion of the trustee5 to fvrther any of the charity'5 purposes. Designated funds are unrestricted fund5 earmarked by the truste¢s for particular future proje¢t or eomrnitment. Resiricted fund5 are subjected io restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of two Su¢14$$¢$.. restricted income fund5 or endowment funds. Page 10
Norton Sports Charity (A company limited by guarantee) Note5 to finaneial statements for the ye¥dr ended 30 November 2024 3.5. Incoming resounes All incoming resources are included in th¢ statement of financial activit1¢5 when elltltlement has passed to th¢ chartty: it is probable thai the economic benefits a550ciated with the iransaction will flow to the charity and the amount can be ¥¢liably measured. The following specific policies are applied to particular categories of income- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy inwm¢ is recognised when receipt is probable and entitlement is eslablished. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the Cost to the dortor or the estimated resale value. Donated facilities and 5¢TVi¢¢S are recOlSed in the accounts when received if the value cai) be reliably measured. No amounts are included for the contribution of general volunteers. income from contfd¢t5 for the supply of services is recognised with the delivery of the colltracted service. This is cl&ssified as unrestricted ndS unles5 there is a contractual requkTernent for it to be 5pen¢ on a niCUlar purpose and returned if unspent, in which case it tnay be regarded as resiricted. Grants, includillg grants for the purchase of fixed ossets. are recognised in full in the siateiiient of finaDcial activities in the y¢ar in whieh they are receivable. 3.6. Resource5 expended Expenditure is recowii5ed on an accTuals basis as a liability is ineurred. Expenditure in¢ludes any VAT which Cannot be fully retovered, and 15 classified vnd¢r headings of ihe statemeni of financial activitie5 to which it r¢laies'. expenditure tsn rdising fitnds includes the ¢ost$ of 811 fundrdising activities. events. non-charitable trading activities. and the sale of donated tsoods. expenditure on charitable activities includes all ¢osts ineurred by a charity in undertaking actiYitie5 that fiJrther its charilable aims for the benefit of its beneficiaries. including those support Costs and costs relaiing io the governance ofthe charity apportioned to Charitable activities. other expenditure includes all expenditure that is neither rel*ed to raising funds for the ch&rÉty nor pan of its expendiTure on charitable activities. All ¢osts are allocated to expenditure ¢ategories reflecting th¢ use of the resource. Direct cost5 attributable io a single activity are allocated directly to that activity. Shared ¢05ts are apportiofted betwe¢n th¢ activities they coniribute to on a reasonabl¢. justifiable and consistent bESiS. Pagell
Norton Sports Charity (A company limited by guarantee) Notes to finan¢ial statements for the year ended 30 November 2024 3.7. Tanglbk fixed assets and depreciatio Tangible fixed a5set5 are stat¢d at cost less accumulated depreciation. Depreciation is provided at rnte5 ¢8lculaEd io write off the cosi or valuation less residual valu¢ of each asset over its exPted uscfijl life, as follows.. Land and buildings Plant and ma¢hin¢ry 3.$0/• Straight lin¢ IOV/o straight line 3.8. Investments ITlV¢Stments held as fixed assets are revalued at their fair value ai the balance sheet date and th¢ gain or loss taken to the stoiemeni of financial activitie5. 3.9. Defilled contribution pension schemes The pension cosis charged in the financial Statements r¢present the contribution payable by the charity during th¢ year. Voluntary ineome Unrestricted Restricted funds funds 2024 To¢al 2023 Total Generdl donations Gifi Aid Gift Aid donation Grants Spon England Clubhoy5e Grant Int¢resi Levies Norton'Pockets ofNature' Partnersliip 20,074 1,8?0 156.616 3,75 31,000 3.750 51,074 5,570 156,616 15,073 3,861 68,654 40.987 188,581 1,000 4.886 57,018 11.323 3.861 68,654 ?50.914 49,934 300.848 377,314 Activities for generating funds Unre5tri¢ted rund5 2024 Totsl 2023 Total Flkndraising income Field income Investment property income Renial iiicome CIC Bank iDter¢5t rec¢ivable Car park income 6,479 56,538 7,081 32.000 2,335 20,990 6,479 56,538 7.081 32.000 2.335 ?0.990 1,6?8 48,888 6,670 3?,000 724 125,423 1 ?5.4?3 89,910 P8Ee 12
Norton Sports Charity (A company limited by guarantee) Notes to financial statements for the year ended 30 November 2024 Costs of charitsble activitie$ Unrestrieted Restricted funds funds 2024 Total 2023 Total Wages & salaries Grounds & upkeep Coaching & other expenditure Professional fees GTant5 Staff trdining 164.391 41,207 5,074 1,400 500 1,400 165.791 41,707 6,474 129,646 43,6?8 2.644 56,551 1,740 380 143 5?3 211,05? 3,443 ?14,495 234,209 Governanee costs Unre$tricted Restricted funds funds 2024 Total 2023 Total Rates & water Lighi & heal Investment propety expenses Insurance Office expenses Disallowed VAT Actountancy fees Professional fees Bank charges Interest- Sport England Depreciation & impairnieTht Profi10s$ on disposal 9.151 30,335 1,775 14,976 ?,982 9,151 30,335 1.775 14.976 2,98? 9.319 16,449 2,208 1?,91 j 3.513 15,1(10 3.363 795 3,676 2,607 214 3,676 8.663 214 3,861 78,850 6.056 3,861 74,153 4,886 77.300 1950} 4,697 81,594 84,070 165,664 144.956 Net incoming resoue5 for tht year 2024 2023 N¢t incoming resources is stated after charging- Depreciation and other amounts written off tangible fixed assets 78.850 77,300 Pagt 13
Norton Sports Charity (A company IiDJited by guarantee) Notes to financial statements for th¢ year ended 30 November 2024 Employees Employment costs 2024 2023 Wages and salaries Social security cost5 Pension costs 157.564 5,470 2.757 125.435 2.126 2,085 165,791 129.646 No employee received emoluments of more than £60.000. Number of employees The average monthly numbers of employees (in¢luding rl)e trustees) duTing the y¢ar, calculated on the ba515 of full lime equivalents. wa5 as follow5: 2024 Number 2023 Number Direct charitable expenditure Management and adininislration io. Pension costs Th¢ company op¢rates a defined contribution pension scheme in respe¢t of the employees. The scheme and its assets are held by independent mana(Tets. The p¢n5ion ¢httrge represents contributions due from rhe coinpany and was as follows.. 2024 2023 Pension charge 2,757 2.085 Taxation The chprity's activitie5 fall within the exemptions afforded by the provisions of th¢ Income and Corporation Tax Aci 1988. Accordingly. there is no taxation charge in the5¢ aocollnis. Page 14
Norton Sports Charity (A Company limited by guarantee) Notes to financial statements for the year ended 30 November 2024 Land and buildings Plant and freehold m4£hinery 12. T*llgibk red assets Total Cost At l Decemb¢r 2023 Addition5 ?.099,580 19,075 38,146 2,137,726 8.829 27,904 At 30 November 2024 2,118,655 46,975 2,165.630 Depre¢iatio At l December ?0?3 Cliarge for the year 522.758 74.153 12,094 4,697 534,852 78,850 AI 30 November 2024 S96,911 16,791 Net book values At 30 November 2024 1,5?1,744 30.184 1.551,928 At 30 November 2023 1,576.822 26,052 1,60?,874 Subsidiary undert8kings Investment shares propertic$ 13. Fixed asset investmenls Total ValuatioD At l December ?O?i and At 30 Noveinber 20?4 215,000 215,001 Historical cost as at 30 Novetnb¢r 2024 53,417 53,418 All fixed asset investrnents are l)eld at fair value within the United Kingdom. The investment propety w8s professionally revalued ai £215,1)00 on 22 August 2023 by Thomas Stevenson LLP, Chartered Surveyors. Page IS
Norton Sports Charity (A company limited by guarantee) Notes to financiY41 statements for the year ended 30 November 2024 13.1. Holdings of 2011/0 or more The eompany hold5 200/0 or more of the share capital of the following companies.. Country of rtgistratlon or incorporation Proportio Shares held of share5 class held Nature of bu$ines8 Subsidlary undertAking Norton Sport5 and Leisure Promotions CIC United Kingdom Community Interest Company Ordinary The aggregate amount of Capital and reserve5 and the results of ihese undertakings for the last relevant financial year were as follows.. Capital 8nd reserve5 Profit for the year Norton Sw)Tts and Leisure Promotions CIC 4,757 14. Debtors 2024 2023 Trade debtors Ainount5 due from subsidiary and asstsciated undertakings Other debtors 12.238 13.196 li,901 11,435 9.068 19,134 41.335 39.637 15. Creditors: amounts falling due within on* yeAr 2024 2023 Other loans Other taxes and social security Other ueditors Ac¢ruals #nd deferred income 33,334 2.936 546 22,368 37,500 ?,037 413 10,404 59.184 50.354 Pag¢ 16
Norton Sports Charity (A company limited by guarantee) Notes to financial statements for the year ended 30 November 2024 16. Creditors: amounts falling due 4fter more than ont year 2024 2023 Other loan 4,166 39,215 On JO September 2020, a loan of £IOO,000 was advanced from Sporting Capital Limited. The loan Caled a twelve moath ¢apital repanent holiday, to be followed by 48 equal capital repaym¢nt5. The lender and borrower agreed that the inierest charges of £25,217, logetlier with the arrangement fee Of £2,000 will be Tepaid by ihe borrower via a non-refundable grant prepayment tliat was forwarded to the charity by Sport England. This inierest grant will be released over the duraiion of the loan term agreement. On 29 J&nuary 20? l an unsecured loan of £50,000 was advanced from the Co-op Foundation. Under the tem15 of the loan. rhe full amount must b¢ repaid in full within five years of the ann%versary of the initial drawdown, with illitial twelve month capital Tepayment holiday being in place. No interest will be charged on the loan. 17. Analysis of net thssets between funds Unrestricted Restricted rund$ funds Total rund balances at JO November 2024 lls represented by.. Tangible fixed assets Investment assets Current assets Current liabilities Lonts_temi liabilitie5 30,184 ?15,001 380,707 (19,919) 1,521.744 1,551,9?8 ?15,001 386,639 (59,184) 14,166) {39.765} (4.166) 605.973 1,484,245 2,090,218 Page 17
Norton Sports Charity (A company limited by guarantee) Notes to finaneial statements for the year ended 30 November 2024 18. Restricled funds At l December 2023 At Incoming Outgorftg resource5 resources Tr4nsfer$ 30 November 2024 Restricted Fund Clubhouse Refurbishrneni AGP Ho¢key Pitch National Lottery Community Fund Grant Sport England I Sporting Capital Clubhouse Forest Shelter Thrive Reach Fund Caialysi - Rl Sported Catalyst- Training 807.650 195.331 18J,100 66,758 146,808 102,176 16.(x)O 6,250 {43,226) (8,858) (8,032) (?,625) {11.457} (i.816) I,o?o 8,305 781,444 201,028 175,068 64,133 164,21? 16,361 12.500 1,020 8,160 1,000 1.000 143 (7.i56) (1.000) (1.000) (143) {804) 1,501,823 49,934 187.513) 20,001 1,484,245 Purposes of restricted funds Tlie Restricted fund along with the Clubhouse Refurbishment Fund represeTrts tlie net book value of certain tangible fixed assets, with the other net book values of the remaining assets being reprtsenied by Ihe individual funds as detailed below. Each year tlie movement in the fund represents ihe movement in ihe net b(K)k value of tangible fixed assers. The AGP Hockey Pitcli Fund represents funding received specifically for the developmenl ofaii AGP pitcli witli additional fijnding being provided by me£ns of a bank loan, in accordance with the objectives of the charity. The restri¢ied fund represenis the net book value of the tangible fixed assets. Each yeaT the Inovement in the fund repiesenis the movement in the net book value of tsngible fixed assets. Each of the fund5 received from the National Lottery Community Fund Grant Sport England I Sporiing Capital Clubhouse Fund represeiit fijnding received specifically for the clubhouse development with additional funding being pmvided by means of a bank loan. other loan5 and donatioras, in accordance with the objectives of the cliarity. Each year tlie movement in the fvnds repr¢5¢nts the movements in the net book value of the clubhouse redevelopment and tlie associated loan interest charges. The Forest Shelter Fund represents match funding re1ved fro[ Sport England and tlie associaied funding received from a Crowdfvnding Campaign. plys a gift in kind grant payment made by Impetus direcily io Ihe coinpany Constructing the forest shelter. The restricted fund represents the net bi)ok value of the tangible fixed assets. Each year the movement in the fijnd repr¢sents the movement in the net book value of the Forest Shelter. Th¢ Thrive Fund is derived from a £150,000 blended finance award accepted by Norton Sport5 Charity in Octobei. ?0?4 to fund a number of capiial f2cility development projects on our site througji 2024 and 2025. The blended finance comprises a £37,500 grnnt and £114.750 loan (including arrnngemenl fee) Ihrtsugh Thrive Together (SIB) LiTllited. Th¢ award will be drawn down in January 2025. Page 18
Norton Sports Charity (A company limited by guarantee) Notes to financial statements for the year ended 30 November 2024 Purposes of restrieted funds (continued) The Reach Fund is derived from an award of £8.160 made to Norton Sports Charity through Social Investment Business Limited to support Norton Sports Charity in becoming investment ready. The Catalyst Rl Fund is derived from an award of £ 1.000 received from the Catalyst Reducing Inequalities Fund to purchase children's bowls sets and for spe£ial educational needs squash sessions. The Sported Fund is derived from 2 £1,000 award received frn the Barclays Community Football Fund as administered by Sported for provision of disability fth)tball. The Catalyst Training fund is derived from a £500 award received from Catalyst for groundsiatTtraining. 19. Unrestricted funds At l De¢ 2023 At Incoming Outgoing resources resour¢es 30 Nov 2024 Transfers General Reserves Reserves Siation House- fair valu¢ r¢5erve Station House Working capital AGP Clubhouse Cricket neis {ouidoor) Cricket school Floodlibihts Football JG Football pavillion Infrastru¢tu Machines Squasli courts Tennis court5 Bowling Projects 20?4D025 85,616 1?89.613> (168,664) 85.616 52,561 161,583 Si,417 135.709 161,583 53.417 25,000 106.Oi8 10.008 10.ooo 3,005 5,000 6,51 5,004 5,506 2,502 3,000 i 0.000 375,1?9 767 l J4,592 15,008 5,(K)O 1.000 1.000 2,500 2,500 2,500 2,000 3,000 4,005 6.071 9,011 7,504 8,006 4,50? 3.000 33 (3,Oi3) 2,000 13,760 2.000 13,871 542,283 376,337 (292,646) {20.001) 605,973 Purpose5 of unrestritted funds The unrestricted fund represenis those fund5 wl)ich the trustees aTe free to use in accordance with the charitable objectives. It includes G¢neral reserves held in accordance with the Reserves Poli¢y of the Charity and a number of Designated funds which are monies eamiarked for major maintenance, refurbishment or development of particular facilities at spe¢ifi¢ (imes in ihe future. P$g¢ 19
Norton Sports Charity (A company limited by guarantee) Notes to financial statements for the year ended 30 November 2024 20. Company limited by guarantee Norton Sports Charity is a company limit¢d by 8uardlltee and accordingly does not have a share capital. Pgge 20