CHARITY REGISTRATION NUMBER: 1156091
Ormesby Table Tennis Club Unaudited Financial Statements
2 July 2020
CENSIS
Chartered accountant Exchange Building 66 Church Street Hartlepool TS24 7DN
Ormesby Table Tennis Club
Financial Statements
Year ended 2 July 2020
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Statement of cash flows | 8 |
| Notes to the financial statements | 9 |
Ormesby Table Tennis Club
Trustees' Annual Report
Year ended 2 July 2020
The trustees present their report and the unaudited financial statements of the charity for the year ended 2 July 2020.
Reference and administrative details
Registered charity name Ormesby Table Tennis Club Charity registration number 1156091 Principal office Conifers Church Lane Ormesby Middlesbrough TS7 9AU
The trustees
A Ransome OBE G Whyman B Stephenson J F Ransome
Accountants
Censis Chartered accountant Exchange Building 66 Church Street Hartlepool TS24 7DN
Structure, governance and management
The organisation is a Charitable Incorporated Organisation - Foundation, registered with the Charity Commission of England and Wales on 10 March 2014.
Prior to incorporation the charity operated as a Community Amatuer Sporrts Club, all assets and liablilities of the Club were transferred to the Charitable Incorpated Organisation.
Objectives and activities
The object of the CIO is the promotion of community participation in healthy recreation for the benefit of the residents of Middlesbrough, Ormesby and the surounding area by provision of facilities for the playing of table tennis at all levels.
1
Ormesby Table Tennis Club
Trustees' Annual Report (continued)
Year ended 2 July 2020
Achievements and performance
Chairman's Report
Ormesby Table Tennis Club has been disrupted by closure due to the Coronavirus rules which has put a halt on most of the club's activities. Up to the middle of March all club activities were proceeding well.
The 50+ group continued with their expansion and development and with four sessions per week the attendance was close to 100%. In the summer, when the Coronavirus restriction allowed the club to come back into operation, the play was restricted to 9 tables or 3 bubbles of 6 making 18 players maximum, therefore, the sessions were doubled up to be able to accommodate this so that the club were running 8 sessions a week rather than 4.
The disability sessions were running well up the middle of March but due to the Coronavirus restrictions and the health complications of the participants the disability section has not reopened.
The Top Squad started the year operating very well but unfortunately was closed down with the Coronavirus. The club opened up again but was largely restricted to Under 18 as the senior players were not allowed to participate except for a short period of time.
The Coronavirus also had an adverse effect on the junior programme, the senior programme in the evenings and all competitions, as there have been no competitions in the auspices of Table Tennis England.
The Club Trustees and volunteers remain active as far as possible and have been addressing the income stream issue which is below the amount required to run the clubs activities at present, which in the short term can be funded but in the long term is not sustainable. A business plan has been agreed which is intended to address this matter. As part of this the club have entered an agreement with a company called My Club, which will site a digital advertising board at the edge of the clubs car park which faces one of the main arteries and one of the busiest roads from the south side of Teesside in to the town centre. Although there will be some initial cost, in terms of electrical cables etc, this is projected to raise in the region of £10,000 a year for the club over the long term.
The club are also working with Tees Valley Sport and an advert to find a tenant for the clubs gymnasium which can be run as a private business. The exact details of this are not yet finalised but the project is well in hand and once the gym is let it is likely to provide a good solid regular income for the club going forward.
2
Ormesby Table Tennis Club
Trustees' Annual Report (continued)
Year ended 2 July 2020
Achievements and performance (continued)
The club has been very active in applying for the various grants which have been available from the Government either through Sport England or from Middlesbrough Council. In the period between March and the end of July the club received £10,000 from Middlesbrough Council for being closed down and £7,000 from Sport England as a grant. Further applications have been made to Middlesbrough Council in accordance with the Governments policy, the details of this are awaited.
The club is also well advanced with an application to Sport England for the Crowed Funder grant which is planned to raise a total of £20,000 and Tees Valley Sport are assisting the club with this application.
The club has also renegotiated it's electricity account which should prove a further saving.
The club is very hopeful for a restart, for at least the juniors, from the middle of April and for the seniors from the middle of May, in accordance with the Government's roadmap to recovery, but this is of course on the Governments decision based on the data coming through from the Covid statistics.
Alan Ransome OBE Trustee
Financial review
Reserves policy
The charity has a reserve policy which is kept under review and which currently seeks to maintain a minimum level of reserves of approximately 3 months running costs. The Trustee Board recommends that the policy on reserves be reviewed annually in order to take into account the forward operating costs of the organisation.
Risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems are in place to mitigate our exposure to the major risks. Trustees are actively seeking new sources of funding to continue future activities.
Transactions and financial position
The charity received funding from a number of organisations during 2020, details of the individual funders can be found in note 4 and 5 to the accounts.
The Statement of Financial Activities for the year is set out on page 6 of the financial statements.
The unrestricted reserves of the charity at 2 July 2020 amounted to £69,630 of which free reserves (that is those not tied up in fixed assets and revaluation reserve) amount to £8,104.
3
Ormesby Table Tennis Club
Trustees' Annual Report (continued)
Year ended 2 July 2020
The trustees' annual report was approved on 31 March 2021 and signed on behalf of the board of trustees by:
A Ransome OBE Trustee
4
Ormesby Table Tennis Club
Independent Examiner's Report to the Trustees of Ormesby Table Tennis Club
Year ended 2 July 2020
I report to the trustees on my examination of the financial statements of Ormesby Table Tennis Club ('the charity') for the year ended 2 July 2020.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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 giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do 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.
CENSIS Chartered accountant Exchange Building 66 Church Street Hartlepool TS24 7DN
1 April 2021
5
Ormesby Table Tennis Club
Statement of Financial Activities
2 July 2020
| 2020 | 2020 | 2019 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 17,840 | 17,840 | – |
| Charitable activities | 5 | 39,667 | 39,667 | 56,093 |
| Other trading activities | 6 | 3,675 | 3,675 | 5,205 |
| Investment income | 7 | 40 | 40 | 49 |
| | | | ||
| Total income | 61,222 | 61,222 | 61,347 | |
| | | | ||
| Expenditure | ||||
| Expenditure on charitable activities | 8,9 | 67,582 | 67,582 | 83,197 |
| | | | ||
| Total expenditure | 67,582 | 67,582 | 83,197 | |
| | | | ||
| | | | ||
| Net expenditure and net movement in funds | (6,360) | (6,360) | (21,850) | |
| | | | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 75,990 | 75,990 | 97,840 | |
| | | | ||
| Total funds carried forward | 69,630 | 69,630 | 75,990 | |
| | | |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 14 form part of these financial statements.
6
Ormesby Table Tennis Club
Statement of Financial Position
2 July 2020
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible fixed assets | 13 | 1,526 | 5,484 |
| Current assets | |||
| Debtors | 14 | 11,575 | 9,650 |
| Cash at bank and in hand | 57,479 | 61,971 | |
| | | ||
| 69,054 | 71,621 | ||
| Creditors: amounts falling due within one year | 15 | 950 | 1,115 |
| | | ||
| Net current assets | 68,104 | 70,506 | |
| | | ||
| Total assets less current liabilities | 69,630 | 75,990 | |
| | | ||
| Net assets | 69,630 | 75,990 | |
| | | ||
| Funds of the charity | |||
| Unrestricted funds: | |||
| Revaluation reserve | 60,000 | 60,000 | |
| Other unrestricted income funds | 9,630 | 15,990 | |
| | | ||
| Total unrestricted funds | 69,630 | 75,990 | |
| | | ||
| Total charity funds | 16 | 69,630 | 75,990 |
| | |
These financial statements were approved by the board of trustees and authorised for issue on 31 March 2021, and are signed on behalf of the board by:
A Ransome OBE Trustee
The notes on pages 9 to 14 form part of these financial statements.
7
Ormesby Table Tennis Club
Statement of Cash Flows
Year ended 2 July 2020
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net expenditure | (6,360) | (21,850) |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 3,958 | 3,958 |
| Other interest receivable and similar income | (40) | (49) |
| Accrued (income)/expenses | (300) | 300 |
| Changes in: | ||
| Trade and other debtors | (1,925) | (3,650) |
| Trade and other creditors | 135 | (1,169) |
| | | |
| Cash generated from operations | (4,532) | (22,460) |
| Interest received | 40 | 49 |
| | | |
| Net cash used in operating activities | (4,492) | (22,411) |
| | | |
| Net decrease in cash and cash equivalents | (4,492) | (22,411) |
| Cash and cash equivalents at beginning of year | 61,971 | 84,382 |
| | | |
| Cash and cash equivalents at end of year | 57,479 | 61,971 |
| | |
The notes on pages 9 to 14 form part of these financial statements.
8
Ormesby Table Tennis Club
Notes to the Financial Statements
Year ended 2 July 2020
1. General information
The charity is registered charity in England and Wales and is unincorporated. The address of the principal office is Conifers, Church Lane, Ormesby, Middlesbrough, TS7 9AU.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
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 measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
9
Ormesby Table Tennis Club
Notes to the Financial Statements (continued)
Year ended 2 July 2020
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably 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 income is recognised when receipt is probable and entitlement is established.
-
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 donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
10
Ormesby Table Tennis Club
Notes to the Financial Statements (continued)
Year ended 2 July 2020
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 12% straight line
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2020 | Funds | 2019 | ||
| £ | £ | £ | £ | ||
| Grants | |||||
| Grants | 17,840 | 17,840 | – | – | |
| | | | | ||
| 5. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2020 | Funds | 2019 | ||
| £ | £ | £ | £ | ||
| British League Winnings | 920 | 920 | 7,150 | 7,150 | |
| Membership | 4,345 | 4,345 | 4,160 | 4,160 | |
| Fitness Suite | – | – | 85 | 85 | |
| Session fees | 26,702 | 26,702 | 38,003 | 38,003 | |
| Coaching | 4,825 | 4,825 | 5,957 | 5,957 | |
| Other | 2,875 | 2,875 | 738 | 738 | |
| | | | | ||
| 39,667 | 39,667 | 56,093 | 56,093 | ||
| | | | |
6. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2020 | Funds | 2019 | |
| £ | £ | £ | £ | |
| Catering | 3,675 | 3,675 | 5,205 | 5,205 |
| | | | |
11
Ormesby Table Tennis Club
Notes to the Financial Statements (continued)
Year ended 2 July 2020
7. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2020 | Funds | 2019 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 40 | 40 | 49 | 49 | |
| | | | | ||
| 8. | Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2020 | Funds | 2019 | ||
| £ | £ | £ | £ | ||
| General Fund | 67,369 | 67,369 | 81,505 | 81,505 | |
| Sinking Fund | 213 | 213 | 1,692 | 1,692 | |
| | | | | ||
| 67,582 | 67,582 | 83,197 | 83,197 | ||
| | | | | ||
| 9. | Expenditure on charitable activities | by activity type | |||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly | 2020 | 2019 | |||
| £ | £ | £ | |||
| General Fund | 67,369 | 67,369 | 81,505 | ||
| Sinking Fund | 213 | 213 | 1,692 | ||
| | | | |||
| 67,582 | 67,582 | 83,197 | |||
| | | | |||
| 10. | Net expenditure | ||||
| Net expenditure is stated after charging/(crediting): | |||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 3,958 | 3,958 | |||
| | | ||||
| 11. | Staff costs | ||||
| The total staff costs and employee benefits for the reporting period are analysed as | follows: | ||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Wages and salaries | 19,964 | 18,983 | |||
| | | ||||
| The average head count of employees during the year was 1 (2019: | 1). The average number of | ||||
| full-time equivalent employees during the year is analysed as follows: | |||||
| 2020 | 2019 | ||||
| No. | No. | ||||
| Coaching Staff | 1 | 1 | |||
| | |
No employee received employee benefits of more than £60,000 during the year (2019: Nil).
12
Ormesby Table Tennis Club
Notes to the Financial Statements (continued)
Year ended 2 July 2020
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. Tangible fixed assets
| Fixtures and | |||
|---|---|---|---|
| fittings | |||
| £ | |||
| Cost | |||
| At 3 July 2019 and 2 July 2020 | 79,171 | ||
| | |||
| Depreciation | |||
| At 3 July 2019 | 73,687 | ||
| Charge for the year | 3,958 | ||
| | |||
| At 2 July 2020 | 77,645 | ||
| | |||
| Carrying amount | |||
| At 2 July 2020 | 1,526 | ||
| | |||
| At 2 July 2019 | 5,484 | ||
| | |||
| 14. | Debtors | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Other debtors | 11,575 | 9,650 | |
| | | ||
| 15. | Creditors: amounts falling due within one year | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Trade creditors | 950 | 815 | |
| Accruals and deferred income | – | 300 | |
| | | ||
| 950 | 1,115 | ||
| | |
16. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 3 July 2019 | Income | Expenditure | 2 July 2020 | |
| £ | £ | £ | £ | |
| General Fund | (34,600) | 61,222 | (67,369) | (40,747) |
| Sinking Fund | 50,590 | – | (213) | 50,377 |
| Revaluation reserve | 60,000 | – | – | 60,000 |
| | | | | |
| 75,990 |
61,222 |
(67,582) |
69,630 |
13
Ormesby Table Tennis Club
Notes to the Financial Statements (continued)
Year ended 2 July 2020
17. Analysis of net assets between funds
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2020 | 2019 | |
| £ | £ | £ | |
| Tangible fixed assets | 1,526 | 1,526 | 5,484 |
| Current assets | 69,054 | 69,054 | 71,621 |
| Creditors less than 1 year | (950) | (950) | (1,115) |
| | | | |
| Net assets | 69,630 | 69,630 | 75,990 |
| | | |
14