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 2024
ABINGDON RUGBY FOOTBALL CLUB LTD LEGAL AND ADMINISTRATIVE INFORMATION Trustees Dr N Crossley Mrs S McKeown Mr G McDonough Mr M Rowlands Mr P Sweeney Charity number 1155081 Company number 08572613 Principal address Southern Sports Park Lambrick Way Abingdon OX14 5TJ Reglstered offlce 265 Cowley Road Oxford OX4 1XQ
ABINGDON RUGBY FOOTBALL CLUB LTD CONTENTS Page Trustees, report Independent examinels report Statement of financial activities Balance sheet 10-11 Statement of cash flows 12 Notes to the accounts 13-22
ABINGDON RUGBY FOOTBALL CLUB LTD TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees present their report and accounts fof the year ended 31 August 2024. The accounts have been prepared in accordance wilh the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standafd applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011. 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 I'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.
ABINGDON RUGBY FOOTBALL CLUB LTD TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Rugby and Abingdon RFC have not been immune to the flow through impacts of Coronavirus. The numbers of people playing sport has reduced and it has been difficult to recruit new and old players to rejoin the sport. However, with the Women's World Cup being hosted in this country in 2025, we believe this will boost rugby as it did when the Men's tournament was held in 2015. There is also the strong possibility of the England team lifting the Cup for the first time. All relevant guidance and measures have been implemented throughout the club and facility, with the club following all RFU, Constituent Body and nationalllocal government advice. Rugby matches and leagues have restarted and we look to the future and continue to push the club fomard in the future. Grant applications continue to be made and some were successful during the year, however, both local authorities and the RFU have already indicated that funds will be in short supply during the next three to four years. The Trustee team have worked extremely hard in keeping the club viable in these difficult times. Local Communi 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 I Dunmore Road and others in the local area. We have recently been advised that a significant amount of money is now available to invest in the club and the trustees are very keen to ensure the maximum return is made with this investment The clubhouse is now hired out to many local organisations for events and activities ranging from being the local polling station for elections, Council meetings, Football Presentations Evenings, Scooter Rally, Charity Events (such as Oddball's Rally), Weddings and Wakes and numerous local events and activities. The club is also being used as a training venue for a number of training organisations. Events throughout the closed season sees the club being used by the community through fun days, touch rLtgby and other activities. 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.
ABINGDON RUGBY FOOTBALL CLUB LTD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Tremendous work has been done by the committee and volunteers at the club which has placed the club at the heart of the community. Continued success for the club in that the number of foffner youth and junior members now representing the senior club playing first and second team rugby is growing (towards the end of the season - 80-90'/0 of senior team players were former Mini and Junior players. The Women's team has been competing in the National Inner Warrior league. Training now tskes place on two evenings per week with games arranged for the weekends Projects this year included the purchase of some of our own grounds maintenance equipment and the investment into new kitchen and catering equipment_ Additional works are planned 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 thal 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 Conb'nued 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 £8,978. 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 betsveen 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, govemance and management The charity is 2 company limited by guarantee, govemed 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 Mf G McDonough Mr M Rowlands Mr P Sweeney The trustees are members and fonTter 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.
ABINGDON RUGBY FOOTBALL CLUB LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 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°/o 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 approved by the Board of Trustees. MrP Trus eney Dated.. 29 April 2025
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 2024. 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 1"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{5llb) 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.. 29 April 2025
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted Funds Restricted Funds Total 2024 Total 2023 Notes Income from . Donations Charitable activities 1,135 30,368 1,135 30,368 1,151 31,931 Total income 31.503 31,503 33,082 Expenditure on . Raising funds 476 476 671 Charitable activities 23,008 1,347 24,355 38,297 Total resources expended 23,484 1,347 24,831 38,968 Gross transfers between funds 959 {959) Net incomelmovement in funds 8,978 {2,3061 6,672 15,8861 Fund balances at I September 2023 423,862 13,033 436,895 442,781 Fund balances at 31 August 2023 432,840 10,727 443,567 436,895 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.
ABINGDON RUGBY FOOTBALL CLUB LTD BALANCE SHEET AS A T31 AUGUST2024 2024 2023 Notes Flx8d Assets Tangible assets Investments 347,926 10 347,089 10 10 347,936 347,099 Current assets Debtors Cash at bank and in hand 12 106,135 102,127 59,664 52,395 165,799 154,522 Creditorn . amounts falllng due wlthln one year 14 Net current assets 141,958 139.388 Creditors amounts falling due after one year 13 (43,3271 149,5921 Net assets 443,567 436 895 Income funds Restricted funds Designated funds General Unrestricted funds 10,727 13,033 15 95,685 101,076 337 155 322 786 432,840 423,862 443 567 436 895 io
ABINGDON RUGBY FOOTBALL CLUB LTD BALANCE SHEET (CONTINUED) AS A T31 AUGUST2024 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 ap oved by the directors on 29 April 2025. Mr Sw Direc Comp y Registr tion No. 08572613 li
ABINGDON RUGBY FOOTBALL CLUB LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notes Cash flows from operating activities Cash lutlilised in)1 generated from operations 19 10,485 (8,2431 Net cash used in investing activities Purchase of assets (4,217) (80,464} Financlng actlvltles Net increasel{decrease) in borrowings 1,001 1,000 Net cash generated fromllused In) rinancing actlvltles Net Increasel(decrease In cash and cash equivalents 7,269 (87,7071 Cash and cash equivalents at beginning of year 52,395 140,102 Cash and cash equivalents at end of year 59,664 52,395 12
ABINGDON RUGBY FOOTBALL CLUB LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 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}" las 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 maintsined 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 2024 1 Accounting pollcies (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. Tanglble 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 Equipment Fixtures and fittings Over period of lease 250/0 Straight line on cost 4 % to 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 incomel{expenditurel for the year. Fixed asset investmont8 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 incomellexpenditure} 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 it5 activities. Impalrment of flxed 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 equlvalents 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 '0ther 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 paty 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 2024 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 al 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 flnanclal liabilitles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 2 Donatlon8 Unrestrlcted funds Restricted funds Total 2024 Total 2023 Donations and gifts 1,135 1,135 1,151 1,135 1,135 For the year ended 31 August 2023 1,151 1,151 15
ABINGDON RUGBY FOOTBALL CLUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 3 Charitable activities 2024 2023 Sales within charitable activities 30,368 31,931 Analysis by fund Unrestricted funds Restricted funds 30,368 32,121 (1901 30,368 31931 4 Expendlture on ralslng funds Unrestricted funds Restrlcted funds Total 2024 Total 2023 Fundraising and publicity 476 476 671 476 476 671 For the year ended 31 August 2023 671 671 16
ABINGDON RUGBY FOOTBALL CLUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 5 Charitable activlties Unrestricted funds Restrlcted funds Total 2024 Total 2023 Charitable expenditure 1,347 24,355 38,297 For the year ended 31 August 2023 36,780 38,297 6 Trustee8 None of the trustees lor any persons connected with them) received any remuneration during the year. 7 Employee8 There were no employees during the year. The club steward and bar stsff are employed part time through the charity's trading company, ARFC Trading Limited. 8 Taxatlon 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 2024 9 Tangible fixed assets Flxtures and fittings Leasehold Improvements Totsl 2024 Total 2023 Equipment Cost At1 September 2023 Additions Disposals 299,713 7.550 1,822 74,828 2,395 (714> 382,091 4,217 (714) 301,627 80,464 At31 AUGUST 2024 299,713 76.509 382,091 Depreclation At1 September 2023 Charge for year Disposals 24,975 815 9,212 35,002 20,913 4,995 2,042 (3,657) {7141 3,380 {7141 14,089 At31 AUGUST 2024 29,970 2.857 4,841 35,002 Carrylng amount At 31 August 2024 269,743 6,515 347 926 At 31 August 2023 274,738 6,735 65.616 347,089 18
ABINGDON RUGBY FOOTBALL CLUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 10 Fixed asset investments Other investments Cost or valuation At1 September 2023 and 31 August 2024 10 Carrying amount At 31 August 2024 At 31 August 2023 10 10 Other investments comprise '. 2024 2023 Notes Investments in subsidiaries 18 10 10 19
ABINGDON RUGBY FOOTBALL CLUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 11 Financial instruments 2024 2023 Carrying amount of financial assèts Debt instruments measured at amortised cost 106,135 102,127 Carrying amount of financial Measured at amortised cost 64 726 12 Debtors 2024 2023 Amounts falllng due wlthln ono year: Trade debtors Amounts due from associate undertakings Prepayments Other debtors 1,200 43 104,035 900 99,289 684 2,111 106 135 102 127 13 Loans and overdrafts 2024 2023 Loans 46,327 49,592 Payable within one year 5,866 The loan which has been provided by the RFU is repayable over 8 years starting in October 2024. 20
ABINGDON RUGBY FOOTBALL CLUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 14 Creditors: amounts falling due within one year 2024 2023 Bank overdrafts and loans Trade creditors other ereditors Accruals and deferred income 5,866 2,343 11,778 1,600 1,819 4,661 2,371 1,483 23,841 7,054 15,134 15 Designated funds Balance at Transfers Balance at31 August 2024 September 2023 Incoming resources Resources expended Club development funds 101,076 2,364 18,714) 959 95,685 101,076 2,364 8,714 959 g5,685 16 Analysis of net assets between funds Unrestricted Funds Restricted Funds Total Fund balances at 31 August 2024 are represented by.. Tangible assets Investments Current assetsl{liabilities} Long term 347,926 10 347.926 10 131,231 10.727 141,958 {46,327} {46,3271 432,840 10,727 443,567 21
ABINGDON RUGBY FOOTBALL CLUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 17 Related party transactions There were no disclosable related paty transactions during the year {2023- none). 18 Subsidlaries These financial statements are charity financial statements for Abingdon Rugby Football Club Limited only. Separate company financial statements are required to be prepared by law. Consolidated financial statements have not been prepared because the cost of preparation ouelghS the benefits. Details of the charity's subsidiaries at 31 August 2024 are as follows.. Class of shares held Registered office Nature of business O/. Held Direct ARFC Trading Limited Trading company Ordinary shares UK 100 Investments in subsidiaries are stated at cost. 19 Cash generated from operation8 2024 2023 (Deficitllsurplus for the year Add non cash items (Increase)IDecrease in debtors Increasel{Decrease) in creditors Increasel{Decreasel in deferred income 6,672 3,380 (5,886> 14,089 14,008) (8,246) 9,124 16,9041 (4,6831 (1,296} Cash (utlllsed in)Igenerated from operations 10,485 8,243 22