**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
- • 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.
- 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.
- 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**_
- Tremendous work has been done by the committee and volunteers at the club which has placed the club at the heart of the community.
- 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
7
## **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:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- 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