CHARITY REGISTRATION NUMBER: 1156091
Ormesby Table Tennis Club Unaudited Financial Statements
2 July 2023
TREMAINE
Chartered accountants 19 Tremaine Close Hartlepool TS27 3LE
Ormesby Table Tennis Club
Financial Statements
Year ended 2 July 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
Ormesby Table Tennis Club
Trustees' Annual Report
Year ended 2 July 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 2 July 2023.
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 Tremaine 19 Tremaine Close Hartlepool TS27 3LE
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 2023
Achievements and performance
Chairman's Report
The Club continued its recovery from the long break due to Covid during 2022/2023 season and built up further momentum with its activities.
The clubs Top Squad in particular had declined due to the Covid break and the recruiting of new players into the Top Squad at the right level has been proving difficult, although plans have been put in place for the club to be one of Table Tennis England's Pathway Development Centre which would make a significant improvement to this recruitment going forward, but that is not due to commence until November 2023
The 50+ continued, however, there is always drop outs and no new members joining as a result of Covid and, therefore, a recruitment programme was initiated. The 50+ are running now with a minimum of 4 sessions per week, Monday, Thursday and Friday mornings and Tuesday afternoon.
The Disability groups have restarted and the club has entered into an agreement to host a Parkinson Group.
The most successful competition was the Junior British League where the Ormesby first team are British Junior Boys Champions. The girls team also did well to finish 2nd in the 1st Division. In the Senior Division Ormesby 1st Team were second behind Northern Ireland team, Ormeau, and our 2nd team finished 7th in the Championship Division, therefore, avoiding relegation.
The club trustees and volunteers remained very active and continued to address the requirements for an increased income stream and the business plan was developed. This was incorporated with a club's Development Plan programme which would increase the participation within the club, particularly from the local community.
The club has progressed with its plan to run a Crowdfunding programme and this is in place now to commence early next season.
The club continued to work very closely with the sport's governing body, Table Tennis England, and staged all the matches in Division B(1) of the British League over four long weekends. The club also took on the responsibility for the organisation and hosting of two more competitions, the National Junior League, four weekends and the National Cadet League, four weekends, as well as hosting some of the Table Tennis regional competitions.
Clearly, the Covid situation has proved to be a major difficulty, however, good progress has been made over the year. The majority of the club's activities are back on track and the prospects going forward look promising.
Alan Ransome
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Ormesby Table Tennis Club
Trustees' Annual Report (continued)
Year ended 2 July 2023
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 2023 amounted to £18,002 of which free reserves (that is those not tied up in fixed assets and revaluation reserve) amount to a £18,001.
The trustees' annual report was approved on 5 June 2024 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 2023
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 2023.
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:
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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.
Tremaine Independent Examiner
19 Tremaine Close Hartlepool TS27 3LE
6 June 2024
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Ormesby Table Tennis Club
Statement of Financial Activities
Year ended 2 July 2023
| 2023 | 2023 | 2022 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 14,101 | 14,101 | 2,043 |
| Charitable activities | 5 | 42,422 | 42,422 | 46,954 |
| Other trading activities | 6 | 3,611 | 3,611 | 2,553 |
| Investment income | 7 | 40 | 40 | 4 |
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| Total income | 60,174 | 60,174 | 51,554 | |
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| Expenditure | ||||
| Expenditure on charitable activities | 8,9 | 68,545 | 68,545 | 86,425 |
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| Total expenditure | 68,545 | 68,545 | 86,425 | |
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| Net expenditure and net movement in funds | (8,371) | (8,371) | (34,871) | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 26,373 | 26,373 | 61,244 | |
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| Total funds carried forward | 18,002 | 18,002 | 26,373 | |
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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 7 to 12 form part of these financial statements.
5
Ormesby Table Tennis Club
Statement of Financial Position
2 July 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 12 | 1 | 1 |
| Current assets | |||
| Cash at bank and in hand | 19,311 | 26,672 | |
| Creditors: amounts falling due within one year | 13 | 1,310 | 300 |
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| Net current assets | 18,001 | 26,372 | |
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| Total assets less current liabilities | 18,002 | 26,373 | |
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| Net assets | 18,002 | 26,373 | |
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| Funds of the charity | |||
| Unrestricted funds: | |||
| Revaluation reserve | 60,000 | 60,000 | |
| Other unrestricted income funds | (41,998) | (33,627) | |
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| Total unrestricted funds | 18,002 | 26,373 | |
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| Total charity funds | 15 | 18,002 | 26,373 |
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These financial statements were approved by the board of trustees and authorised for issue on 5 June 2024, and are signed on behalf of the board by:
A Ransome OBE Trustee
The notes on pages 7 to 12 form part of these financial statements.
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Ormesby Table Tennis Club
Notes to the Financial Statements
Year ended 2 July 2023
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 2023
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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Notes to the Financial Statements (continued)
Ormesby Table Tennis Club
Year ended 2 July 2023
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
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 13,601 | 13,601 | 480 | 480 |
| Grants | ||||
| Grants | 500 | 500 | – | – |
| Government grant income | – | – | 1,563 | 1,563 |
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| 14,101 | 14,101 | 2,043 | 2,043 | |
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Notes to the Financial Statements (continued)
Ormesby Table Tennis Club
Year ended 2 July 2023
5. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| British League Winnings & Bursaries | 6,177 | 6,177 | 7,270 | 7,270 | |
| Membership | 155 | 155 | 2,901 | 2,901 | |
| British League | – | – | 5,190 | 5,190 | |
| Session fees | 30,050 | 30,050 | 29,621 | 29,621 | |
| Coaching | 4,520 | 4,520 | 1,942 | 1,942 | |
| Hall inome | 1,430 | 1,430 | – | – | |
| Other | 90 | 90 | 30 | 30 | |
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| 42,422 | 42,422 | 46,954 | 46,954 | ||
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| 6. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Catering | 3,611 | 3,611 | 2,553 | 2,553 | |
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| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 40 | 40 | 4 | 4 | |
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| 8. | Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| General Fund | 68,545 | 68,545 | 71,668 | 71,668 | |
| Sinking Fund | – | – | 14,757 | 14,757 | |
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| 68,545 | 68,545 | 86,425 | 86,425 | ||
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| 9. | Expenditure on charitable activities | by activity type | |||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly | 2023 | 2022 | |||
| £ | £ | £ | |||
| General Fund | 68,545 | 68,545 | 71,668 | ||
| Sinking Fund | – | – | 14,757 | ||
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| 68,545 | 68,545 | 86,425 | |||
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10
Notes to the Financial Statements (continued)
Ormesby Table Tennis Club
Year ended 2 July 2023
10. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 21,723 | 17,629 |
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The average head count of employees during the year was 1 (2022: 1). The average number of full-time equivalent employees during the year is analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Coaching Staff | 1 | 1 |
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No employee received employee benefits of more than £60,000 during the year (2022: Nil).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
One or more trustees has claimed expenses or had their expenses met by the charity.
The total amount of reimbursed travel and tournament expenses paid two trustees amounted to 2023 - £1,065;(2022 - £1,687).
12. Tangible fixed assets
| Fixtures and | ||
|---|---|---|
| fittings | ||
| £ | ||
| Cost | ||
| At 3 July 2022 and 2 July 2023 | 79,171 | |
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| Depreciation | ||
| At 3 July 2022 and 2 July 2023 | 79,170 | |
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| Carrying amount | ||
| At 2 July 2023 | 1 | |
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| At 2 July 2022 | 1 | |
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| Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Accruals and deferred income | 300 | 300 |
| Other creditors - desc in a/cs | 1,010 | – |
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| 1,310 | 300 | |
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13. Creditors: amounts falling due within one year
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Ormesby Table Tennis Club
Notes to the Financial Statements (continued)
Year ended 2 July 2023
14. Government grants
The amounts recognised in the financial statements for government grants are as follows: 2023 2022 £ £ Recognised in income from donations and legacies: – Government grants income 1,563
15. Analysis of charitable funds Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At 3 July 2022 | Income | Expenditure | 2 July 2023 | |
| £ | £ | £ | £ | |
| General Fund | (33,627) | 60,174 | (68,545) | (41,998) |
| Sinking Fund | – | – | – | – |
| Revaluation reserve | 60,000 | – | – | 60,000 |
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| 26,373 | 60,174 | (68,545) | 18,002 | |
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| At 3 July 2021 | Income | ExpenditureAt | 2 July 2022 | |
| £ | £ | £ | £ | |
| General Fund | (48,971) | 51,554 | (71,668) | (69,085) |
| Sinking Fund | 50,215 | – | (14,757) | 35,458 |
| Revaluation reserve | 60,000 | – | – | 60,000 |
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| 61,244 | 51,554 | (86,425) | 26,373 | |
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16. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Tangible fixed assets | 1 | 1 |
| Current assets | 19,311 | 19,311 |
| Creditors less than 1 year | (1,310) | (1,310) |
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| Net assets | 18,002 | 18,002 |
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| Unrestricted | Total Funds | |
| Funds | 2022 | |
| £ | £ | |
| Tangible fixed assets | 1 | 1 |
| Current assets | 26,672 | 26,672 |
| Creditors less than 1 year | (300) | (300) |
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| Net assets | 26,373 | 26,373 |
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