CHARITY REGISTRATION NUMBER: 1156091
Ormesby Table Tennis Club Unaudited Financial Statements
2 July 2021
CENSIS
Chartered accountants Exchange Building 66 Church Street Hartlepool TS24 7DN
Ormesby Table Tennis Club
Financial Statements
Year ended 2 July 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Statement of cash flows | 7 |
| Notes to the financial statements | 8 |
Ormesby Table Tennis Club
Trustees' Annual Report
Year ended 2 July 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 2 July 2021.
Reference and administrative details
Registered charity name Ormesby Table Tennis Club Charity registration number 1156091 Principal office Conifers Church Lane Middlesbrough TS7 9AU The trustees A Ransome OBE G Whyman B Stephenson J F Ransome Independent examiner Censis 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.
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Ormesby Table Tennis Club
Trustees' Annual Report (continued)
Year ended 2 July 2021
Achievements and performance
Chairman's report
Ormesby Table Tennis Club continued to experience a great deal of disruption due to the continued Covid pandemic, which meant that the Club was closed for a significant proportion of the year and much of our activities suspended.
We were able to begin to continue our sessions, be it on a very limited basis, in the spring of 2021 but this was with only a limited number of tables being in use, a maximum of 9 rather than 15, and with very strict rules on limitations relating to the use of the premises.
This had a severe impact on the club's finances as one of the main areas of income are the table fees which are collected from users on a daily basis. Some of this was offset by government grants and by a reduction in costs due to the lower number of hours the self-employed coaches were able to work.
This had an adverse effect on the club in several ways, the 50+ group was closed down for a long period of time, the disabled sessions were discontinued and the recruitment drive, which happens every year for new youngsters coming into the sport, was completely halted. It was not just a question of a block on youngster being able to come to the club, but visits to schools for lessons etc was also suspended. A further loss of income was that the club is used for a wide number of table tennis events, mainly by Table Tennis England, and these events were all cancelled. Having said all of this, by the end of the financial year the club was beginning to return to its former programme and everything was falling into place to recommence activities for the coming season.
The Summer League 2021 was completely cancelled but arrangements were made for all the competitions to start from September 2021. All of this had an adverse effect on the clubs plans to raise further income and these have been shelved for further consideration in the following year.
Alan Ransome OBE Trustee
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Ormesby Table Tennis Club
Trustees' Annual Report (continued)
Year ended 2 July 2021
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 Statement of Financial Activities for the year is set out on page 5 of the financial statements.
The unrestricted reserves of the charity at 2 July 2021 amounted to £61,244 of which free reserves (that is those not tied up in fixed assets and revaluation reserve) amount to £1,244.
The trustees' annual report was approved on 22 March 2022 and signed on behalf of the board of trustees by:
A Ransome OBE Trustee
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Ormesby Table Tennis Club
Independent Examiner's Report to the Trustees of Ormesby Table Tennis Club
Year ended 2 July 2021
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 2021.
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
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the financial statements do not accord with those records; or
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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.
Independent Examiner
Exchange Building 66 Church Street Hartlepool TS24 7DN
23 March 2022
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Ormesby Table Tennis Club
Statement of Financial Activities
Year ended 2 July 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 17,669 | 17,669 | 17,840 |
| Charitable activities | 5 | 25,647 | 25,647 | 39,667 |
| Other trading activities | 6 | – | – | 3,675 |
| Investment income | 7 | 6 | 6 | 40 |
| | | | ||
| Total income | 43,322 | 43,322 | 61,222 | |
| | | | ||
| Expenditure | ||||
| Expenditure on charitable activities | 8,9 | 51,708 | 51,708 | 67,582 |
| | | | ||
| Total expenditure | 51,708 | 51,708 | 67,582 | |
| | | | ||
| | | | ||
| Net expenditure and net movement in funds | (8,386) | (8,386) | (6,360) | |
| | | | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 69,630 | 69,630 | 75,990 | |
| | | | ||
| Total funds carried forward | 61,244 | 61,244 | 69,630 | |
| | | |
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 8 to 13 form part of these financial statements.
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Ormesby Table Tennis Club
Statement of Financial Position
2 July 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 13 | 1 | 1,526 |
| Current assets | |||
| Debtors | 14 | – | 11,575 |
| Cash at bank and in hand | 61,543 | 57,479 | |
| | | ||
| 61,543 | 69,054 | ||
| Creditors: amounts falling due within one year | 15 | 300 | 950 |
| | | ||
| Net current assets | 61,243 | 68,104 | |
| | | ||
| Total assets less current liabilities | 61,244 | 69,630 | |
| | | ||
| Net assets | 61,244 | 69,630 | |
| | | ||
| Funds of the charity | |||
| Unrestricted funds: | |||
| Revaluation reserve | 60,000 | 60,000 | |
| Other unrestricted income funds | 1,244 | 9,630 | |
| | | ||
| Total unrestricted funds | 61,244 | 69,630 | |
| | | ||
| Total charity funds | 16 | 61,244 | 69,630 |
| | |
These financial statements were approved by the board of trustees and authorised for issue on 22 March 2022, and are signed on behalf of the board by:
A Ransome OBE Trustee
The notes on pages 8 to 13 form part of these financial statements.
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Ormesby Table Tennis Club
Statement of Cash Flows
Year ended 2 July 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net expenditure | (8,386) | (6,360) |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 1,525 | 3,958 |
| Other interest receivable and similar income | (6) | (40) |
| Accrued expenses/(income) | 300 | (300) |
| Changes in: | ||
| Trade and other debtors | 11,575 | (1,925) |
| Trade and other creditors | (950) | 135 |
| | | |
| Cash generated from operations | 4,058 | (4,532) |
| Interest received | 6 | 40 |
| | | |
| Net cash from/(used in) operating activities | 4,064 | (4,492) |
| | | |
| Net increase/(decrease) in cash and cash equivalents | 4,064 | (4,492) |
| Cash and cash equivalents at beginning of year | 57,479 | 61,971 |
| | | |
| Cash and cash equivalents at end of year | 61,543 | 57,479 |
| | |
The notes on pages 8 to 13 form part of these financial statements.
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Ormesby Table Tennis Club
Notes to the Financial Statements
Year ended 2 July 2021
1. General information
The charity is a public benefit entity and a 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.
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Ormesby Table Tennis Club
Notes to the Financial Statements (continued)
Year ended 2 July 2021
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:
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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.
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legacy income is recognised when receipt is probable and entitlement is established.
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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.
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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:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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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.
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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.
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Ormesby Table Tennis Club
Notes to the Financial Statements (continued)
Year ended 2 July 2021
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 | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Grants | |||||
| Grants | 17,669 | 17,669 | 17,840 | 17,840 | |
| | | | | ||
| 5. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| British League Winnings | 920 | 920 | 920 | 920 | |
| Membership | 2,540 | 2,540 | 4,345 | 4,345 | |
| Session fees | 11,132 | 11,132 | 26,702 | 26,702 | |
| Coaching | 11,003 | 11,003 | 4,825 | 4,825 | |
| Other | 52 | 52 | 2,875 | 2,875 | |
| | | | | ||
| 25,647 | 25,647 | 39,667 | 39,667 | ||
| | | | |
6. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Catering | – | – | 3,675 | 3,675 | |
| | | | | ||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 6 | 6 | 40 | 40 | |
| | | | |
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Notes to the Financial Statements (continued)
Ormesby Table Tennis Club
Year ended 2 July 2021
8. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| General Fund | 51,546 | 51,546 | 67,369 | 67,369 |
| Sinking Fund | 162 | 162 | 213 | 213 |
| | | | | |
| 51,708 | 51,708 | 67,582 | 67,582 | |
| | | | |
9. Expenditure on charitable activities by activity type
| Activities | |||
|---|---|---|---|
| undertaken | Total funds | Total fund | |
| directly | 2021 | 2020 | |
| £ | £ | £ | |
| General Fund | 51,546 | 51,546 | 67,369 |
| Sinking Fund | 162 | 162 | 213 |
| | | | |
| 51,708 | 51,708 | 67,582 | |
| | | |
10. Net expenditure
| Net expenditure is stated after charging/(crediting): | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 1,525 | 3,958 |
| | |
11. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 17,161 |
19,964 |
| The average head count of employees during the year was 1 (2020: 1). The average | The average head count of employees during the year was 1 (2020: 1). The average | number of |
|---|---|---|
| full-time equivalent employees during the year is analysed as follows: | ||
| 2021 | 2020 | |
| No. | No. | |
| Coaching Staff | 1 | 1 |
| | |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
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Ormesby Table Tennis Club
Notes to the Financial Statements (continued)
Year ended 2 July 2021
13. Tangible fixed assets
| Fixtures and | |||
|---|---|---|---|
| fittings | |||
| £ | |||
| Cost | |||
| At 3 July 2020 and 2 July 2021 | 79,171 | ||
| | |||
| Depreciation | |||
| At 3 July 2020 | 77,645 | ||
| Charge for the year | 1,525 | ||
| | |||
| At 2 July 2021 | 79,170 | ||
| | |||
| Carrying amount | |||
| At 2 July 2021 | 1 | ||
| | |||
| At 2 July 2020 | 1,526 | ||
| | |||
| 14. | Debtors | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Other debtors | – | 11,575 | |
| | | ||
| 15. | Creditors: amounts falling due within one year | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Trade creditors | – | 950 | |
| Accruals and deferred income | 300 | – | |
| | | ||
| 300 | 950 | ||
| | |
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Ormesby Table Tennis Club
Notes to the Financial Statements (continued)
Year ended 2 July 2021
16. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 3 July 2020 | Income | Expenditure | 2 July 2021 | |
| £ | £ | £ | £ | |
| General Fund | (40,747) | 43,322 | (51,546) | (48,971) |
| Sinking Fund | 50,377 | – | (162) | 50,215 |
| Revaluation reserve | 60,000 | – | – | 60,000 |
| | | | | |
| 69,630 | 43,322 | (51,708) | 61,244 | |
| | | | | |
| 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 | |
| | | | |
17. Analysis of net assets between funds
| Unrestricted | Total Funds | |||
|---|---|---|---|---|
| Funds | 2021 | |||
| £ | £ | |||
| Tangible fixed assets | 1 | 1 | ||
| Current assets | 61,543 | 61,543 | ||
| Creditors less than 1 year | (300) | (300) | ||
| | | |||
| Net assets | 61,244 | 61,244 | ||
| | | |||
| Unrestricted | Total Funds | |||
| Funds | 2020 | |||
| £ | £ | |||
| Tangible fixed assets | 1,526 | 1,526 | ||
| Current assets | 69,054 | 69,054 | ||
| Creditors less than 1 year | (950) | (950) | ||
| | | |||
| Net assets | 69,630 | 69,630 | ||
| | | |||
| 18. | Analysis of changes in net debt | |||
| At 3 Jul 2020 | Cash flows | At 2 Jul 2021 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 57,479 | 4,064 | 61,543 | |
| | | |
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