Charity Registration No. 1155081 Company Registration No. 08572613 (England and Wales)
ABINGDON RUGBY FOOTBALL CLUB LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1
ABINGDON RUGBY FOOTBALL CLUB LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Dr N Crossley Mrs S McKeown Mr G McDonagh Mr P Sweeney
Charity number 1155081 Company number 08572613 Principal address Southern Sports Park Lambrick Way Abingdon OX14 5TJ Registered office 265 Cowley Road Oxford OX4 1XQ
2
ABINGDON RUGBY FOOTBALL CLUB LTD
CONTENTS
| Page | |
|---|---|
| Trustees' report | 4 - 7 |
| Independent examiner's report | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 - 11 |
| Statement of cash flows | 12 |
| Notes to the accounts | 13 - 22 |
3
ABINGDON RUGBY FOOTBALL CLUB LTD TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022
The trustees present their report and accounts for the year ended 31 August 2022. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and updated in June 2008.
Objectives and activities
The charity's objects are:
-
to promote community participation in healthy recreation by providing facilities for playing rugby union football and other sports (“facilities” means land, buildings, equipment and organizing sporting activities)
-
to provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life
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• to advance the education of children and young people through such means as the Directors think fit in accordance with the law of charity
The policies adopted in furtherance of these objects are to provide a safe and welcoming environment for all to enjoy playing and participating in sport (in particular rugby union football) and there has been no change in these during the year.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
4
ABINGDON RUGBY FOOTBALL CLUB LTD TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022
Significant activities during the year have been:
- Coronavirus (COVID 19)
The COVID 19 outbreak in the UK has had a significant effect on the whole country, and also for organised sports. With the main COVID restrictions ending on the 24[th] February 2022, and the requirement for self-isolation ending on the 24[th] March 2022, we have been aiming to get back to ‘normal’.
-
Rugby and Abingdon RFC have not been immune to the impacts of the virus and all the various government policies for both the sport and local authority areas have been followed diligently.
-
Shutdown has impacted on the whole club and wider community, the club has been closed for a significant part of the year, with all club activity and clubhouse activity curtailed.
-
All relevant measures have been implemented throughout the club and facility, with the club following all RFU, Constituent Body and national/local government advice.
-
All suppliers were contacted and where appropriate new deals were implemented and reduced costs were negotiated.
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Rugby matches and leagues were stopped or cancelled during the year and in line with all guidelines from the RFU and Oxfordshire RFU.
-
Grant applications were made and some successful during the year
-
The Trustee team have worked extremely hard in keeping the club viable in these difficult times.
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Rugby activities have been very well supported when we have been allowed to open, however, the club like all others seems to have lost players and are struggling with playing numbers at certain age grades.
Pre and Post Coronavirus Outbreak
-
We are very proud that our coaches and parents are supporting the activities at the local schools, which allows children access to rugby and this has allowed several of them to join Abingdon RFC and to participate in sport on a more regular basis.
-
Abingdon RFC are co-founders of SASI (South Abingdon Sports Initiative), and we work closely with both Abingdon Boys Football Club and Abingdon Tennis Club, in promoting sport and physical activity in the community.
-
Abingdon RFC is working together to apply for grants and funding to improve pitches and facilities at Southern Park, Abingdon. We continue to apply for section 106 application for funds through the recently announced housing developments on the Wootton Road / Dunmore Road and others in the local area.
-
The clubhouse is now hired out to many local organisations for events and activities ranging from Council meetings, Football Presentations Evenings, Scooter Rally, Charity Events (such as Oddball’s Rally), Weddings and Wakes.
-
The training facilities that we boast provide additional opportunities for age groups training mid-week evenings.
-
We now have some of the best training facilities in the whole of Oxfordshire.
5
ABINGDON RUGBY FOOTBALL CLUB LTD TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022
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Tremendous work has been done by the committee and volunteers at the club which has placed the club at the heart of the community.
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Investment has been made in the club in the last two years with the renewal/replacement of the water heating system (to an environmentally sustainable Air Source Heat Pump system) and club heating to a FAR Infra-Red system. All the club lighting has been upgraded to LED. These improvements will reduce the running costs significantly and lead to lower maintenance costs in the future.
-
Continued success for the club in that the number of former youth and junior members now representing the senior club playing first and second team rugby is growing.
-
Additional projects for the next 12-18 months include the creation of a tarmacadam car park and the replacement of the old sodium floodlights with new LED floodlights – both of which are significant capital spends. However, these projects will enhance the club and attract new players and supporters in the future.
-
Additional works are also required on the playing pitches as these are now beginning to show the impacts of our facility being bult on an old waste tip. It is hoped that we can secure funding to enhance the playing surfaces and improve the quality of pitches for our players and visiting clubs.
Achievements and performance
The club has continued to attract new players of all ages and extend its reach into the local community.
Financial review
The surplus on unrestricted funds during the year was £5,618.
Restricted funds represent funds raised for specific purposes, primarily to promote activities such as tours by different player age groups.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
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.
Structure, governance and management
The charity is a company limited by guarantee, governed by its Articles of Association and is registered with the Charity Commission.
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
Dr N Crossley Mrs S McKeown Mr G McDonough Mr P Sweeney
The trustees are members and former members of the Abingdon Rugby Club Ltd management committee and have held office on that committee for several years. Trustees are elected by the members of the club at the members annual general meeting.
6
ABINGDON RUGBY FOOTBALL CLUB LTD TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022
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.
The trustees have the ultimate responsibility for developing and delivering the charity's strategy.
Day to day management is undertaken by a management committee consisting of representatives from the club members.
New trustees are familiarised with the governance structure of the charity, the aims and objectives of the charity and the roles undertaken by the management committee and volunteers. They are given the opportunity to identify any area of activity in which they would like to be involved and if training is required this will be identified and provided by the charity.
The charity owns 100% of the issued share capital of ARFC Trading Ltd, a company registered in England and Wales.
ARFC Trading Ltd is responsible for undertaking commercial activities on behalf of the charity with a view to donating the profits to the charity for the furtherance of its objectives.
The trustees' report was approved by the Board of Trustees.
..............................
Mr P Sweeney Trustee
Dated: 24 April 2023
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ABINGDON RUGBY FOOTBALL CLUB LTD
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ABINGDON RUGBY FOOTBALL CLUB LTD
I report to the trustees on my examination of the accounts of the above charity for the year ended 31 August 2022.
Responsibilities and basis of report
As the charity's trustees, 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 charity’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 which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable 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.
……………………………………………
P W Mould (ACMA, CGMA)
Dated: 24 April 2023
8
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022
| Notes Income from: Donations 2 Charitable activities 3 Total income Expenditure on : Raising funds 4 Charitable activities 5 Total resources expended Gross transfers between funds Net income/movement in funds Fund balances at 1 September 2021 Fund balances at 31 August 2022 |
Unrestricted Funds £ 1,938 28,812 30,750 356 24,776 25,132 - 5,618 422,423 428,041 |
Restricted Funds £ - 3,907 3,907 - 2,212 2,212 - 1,695 13,045 14,740 |
Total 2022 £ 1,938 32,719 34,657 356 26,988 27,344 - 7,313 435,468 442,781 |
Total 2021 £ 1,336 62,173 |
|---|---|---|---|---|
| 63,509 | ||||
| 32 14,521 |
||||
| 14,553 | ||||
| - | ||||
| 48,956 | ||||
| 386,512 | ||||
| 435,468 |
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.
9
ABINGDON RUGBY FOOTBALL CLUB LTD
BALANCE SHEET AS AT 31 AUGUST 2022
| Notes Fixed Assets Tangible assets 9 Investments 10 Current assets Debtors 12 Cash at bank and in hand Creditors : amounts falling due within one year 14 Net current assets Creditors : amounts falling due after one year 13 Total assets less current liabilities Income funds Restricted funds Designated funds 15 General unrestricted funds |
£ 93,881 140,102 233,983 (21,734) 98,692 329,349 |
2022 £ 280,714 10 280,724 212,249 (50,192) 442,781 14,740 428,041 442,781 |
£ 81,508 83,881 165,389 (14,868) 96,058 326,365 |
2021 £ 284,937 10 |
|---|---|---|---|---|
| 284,947 | ||||
| 150,521 - |
||||
| 435,468 | ||||
| 13,045 | ||||
| 422,423 | ||||
| 435,468 |
10
ABINGDON RUGBY FOOTBALL CLUB LTD
BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2022
The company is entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS102 SORP.
The accounts were approved by the directors on 24 April 2023.
.............................. Mr P Sweeney Director Company Registration No. 08572613
11
ABINGDON RUGBY FOOTBALL CLUB LTD
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022
| Notes Cash flows from operating activities Cash (utlilised in)/ generated from operations 19 Net cash used in investing activities Purchase of assets Financing activities Net increase/(decrease) in borrowings Net cash generated from/(used in) financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2022 £ 50,192 |
£ 7,229 (1,200) 50,192 83,881 140,102 |
2021 £ (1,245) |
£ 54,750 - (1,245) |
|---|---|---|---|---|
| 53,505 30,376 |
||||
| 83,881 |
12
ABINGDON RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1 Accounting policies
Charity information
Abingdon Rugby Football Club Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 265 Cowley Road, Oxford, OX4 1XQ.
Accounting convention
The accounts have been prepared in accordance with the charity's Articles of Association, 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 accounts are prepared in pounds sterling , which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Going concern
At the time of approving the accounts, 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 accounts.
Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
The Club development fund is set aside for future development projects agreed by the club membership.
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 accounts.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
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.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
13
ABINGDON RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
1 Accounting policies (Continued)
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
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 improvements Over period of lease Plant and machinery 25% straight line on cost Fixtures and fittings 25% straight line 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.
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.
Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired, the carrying value is reduced appropriately.
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.
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.
14
ABINGDON RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
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.
1 Accounting policies (Continued)
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 payments 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.
2 Donations
| Donations and gifts For the year ended 31 August 2021 |
Unrestricted funds 1,938 1,938 1,336 |
Restricted funds - - - |
Total 2021 1,938 1,938 |
Total 2021 1,336 |
|---|---|---|---|---|
| 1,336 | ||||
| 1,336 |
15
ABINGDON RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
3 Charitable activities
| Sales within charitable activities Analysis by fund Unrestricted funds Restricted funds For the year ended 31 August 2021 Unrestricted funds Restricted funds Expenditure on raising funds Unrestricted funds Fundraising and publicity 356 356 For the year ended 31 August 2021 32 |
Restricted funds - - - |
2022 32,719 28,812 3,907 32,719 Total 2022 356 356 |
2021 62,173 |
|---|---|---|---|
| 62,050 123 |
|||
| 62,173 | |||
| Total 2021 32 32 32 |
4 Expenditure on raising funds
16
ABINGDON RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
5 Charitable activities
----- Start of picture text -----
2022 2021
Charitable
expenditure 24,776 2,212 26,988 14,521
For the
year ended
31 August
2021 15,721 (1,200) 14,521
----- End of picture text -----
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year
.
7 Employees
There were no employees during the year.
The club steward and bar staff are employed part time through the charity's trading company, ARFC Trading Limited.
8 Taxation
There is no taxation charge as the charity is exempt from corporation tax.
17
ABINGDON RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
9 Tangible fixed assets
| Cost At 1 September 2021 Additions At 31 August 2022 Depreciation At 1 September 2021 Charge for year At 31 August 2022 Carrying amount At 31 August 2022 At 31 August 2021 |
Leasehold improvements 299,713 - 299,713 14,985 4,995 19,980 279,733 284,728 |
Plant and machinery - 1,200 1,200 - 250 250 950 - |
Fixtures and fittings 714 - 714 505 178 683 31 209 |
Total 2022 300,427 1,200 301,627 15,490 5,423 20,913 280,714 284,937 |
Total 2021 300,427 - |
|---|---|---|---|---|---|
| 300,427 | |||||
| 10,317 5,173 |
|||||
| 15,490 | |||||
18
ABINGDON RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
10 Fixed asset investments
| Cost or valuation At 1 September 2021 and 31 August 2022 Carrying amount At 31 August 2022 At 31 August 2021 Other investments comprise : Notes 2022 £ Investments in subsidiaries 18 10 |
Other investments 10 |
|---|---|
| 10 | |
| 10 | |
| 2021 £ 10 |
19
ABINGDON RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
11 Financial instruments
| Carrying amount of financial assets Debt instruments measured at amortised cost Carrying amount of financial liabilities Measured at amortised cost 12 Debtors Amounts falling due within one year : Amounts due from associate undertakings Prepayments Other debtors 13 Loans and overdrafts Loans Payable within one year |
2022 £ 93,881 71,926 2022 £ 91,661 771 1,449 93,881 2022 £ 50,192 - |
2021 £ 81,508 |
|---|---|---|
| 14,868 | ||
| 2021 £ 80,891 617 - |
||
| 81,508 | ||
| 2021 £ - |
||
| - |
The loan which has been provided by the RFU is repayable over 8 years starting in 2024.
20
ABINGDON RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
14 Creditors: amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income 15 Designated funds Balance at 1 September 2021 £ Club development funds 96,058 96,058 16 Analysis of net assets between funds Fund balances at 31 August 2022 are represented by: Tangible assets Investments Current assets/(liabilities) |
Incoming resources £ 2,634 2,634 Unrestricted Funds £ 280,712 10 147,319 428,041 |
2022 £ 461 12,923 8,350 21,734 Resources expended £ - - Restricted Funds £ - - 14,740 14,740 |
2021 £ 138 5,650 9,080 14,868 Balance at 31 AUGUST 2022 £ 98,692 |
2021 £ 138 5,650 9,080 |
||
|---|---|---|---|---|---|---|
| 14,868 | ||||||
| 98,692 | ||||||
| Total £ 280,712 10 162,059 |
||||||
| 442,781 |
21
ABINGDON RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
17 Related party transactions
There were no disclosable related party transactions during the year (2021- none) .
18 Subsidiaries
These financial statements are separate charity financial statements for Abingdon Rugby Football Club Limited.
Separate company financial statements are required to be prepared by law. Consolidated financial statements have not been prepared because the cost of preparation outweighs the benefits.
Details of the charity's subsidiaries at 31 August 2022 are as follows:
| Registered office Nature of business ARFC Trading Limited UK Trading company nvestments in subsidiaries are stated at cost. 9 Cash generated from operations (Deficit)/Surplus for the year Add non cash items (Increase)/Decrease in debtors Increase/(Decrease) in creditors Increase/(Decrease) in deferred income Cash (utilised in)/generated from operations |
Class of shares held Ordinary shares 2022 £ 7,313 5,423 (12,373) 7,596 (730) 7,229 |
% Held Direct 100 2021 £ 48,956 5,173 (2,422) 1,098 1,945 |
|---|---|---|
| 54,750 |
Investments in subsidiaries are stated at cost.
19 Cash generated from operations
22