Company reglslration number. 07829589
Charity registration number.. 1156455
Atlantic Racquet Centre
{A company limited by guarantee)
Annual Report and Flnanclal Statements
for the YeaF Ended 31 December 2023
WESTCOTTS
CHARTÉRED AC¢OUNTAIIT8
BUSIIIES$ AOVISERS

Atlantic Racquot Centre
Contents
Reference and Admlnlstralve Details
Trustees. Report
2to5
IndeperKlent Examlneffs RèFK)rt
cOr￿oI1d8ted Statement of Financlal ActNities
Consdldatad Balance Sheet
8t09
Balance Sheet
10t011
Notss to the Fin8nu81 Statements
12to29

Atlantic Racquet Centre
Reference and Administrative Details
Trustees
Anou5hka Lynd
Neil Damley
Mark cla￿On
Atlantic Coast Cctroperatlve Tnjst
David Vlnall
The Northam Care Trust
Anoushka Lynd
Secretary
Charlty Reglstratlon Number
1156455
Company Reglstration Number 07829589
The charity Is Incorporated in England 8nd wa￿s.
Allan￿e Racquet Centre
Farm Road
Clovelly Road Industri81 Estate
Bldeford
Devon
EX39 3BE
Westcx)tts ISWI LLP
Chartered Accountants & Ststutory Audltors
47 8outFQrt Street
Bamstsple
Devon
EX31 1SQ
R8gistered Office
Independent Examlnor
Page 1

Atlantic Racquet Centre
Trustees. Report
The truslees, who are directors for the purposes of company law, present the annual report together
with the financial statements of the charitable company for the year ended 31 De￿rnber 2023.
Structure, governance and management
Organlsat5onal structure
The directors of the company are also charity trustees for the purposes of charity law. ￿1 of the
trustees give their time voluntarily and received no benefrt5 from the charity- Any expenses redaimed
from the charity are set out in note 10 to the accounts.
Anoushka L￿d Is the Chief Executive Officer for the tharfty.
Recrultment and appolntment of twslees
Under the requiremènts of the Memorandum and Artides of Association one thlrd of the directofs
stood down at the AGM held In February 2023 and were subsequenuy re-elected. At each subsequent
general meetlng one-thlrd of directors must relire from office but are ellglble to stand for
reappointment.
Inductlon and tralnlng of trustees
We have a full induction programme in place for all new truste8s which covers informallon 8bout the
charity and the expectations of a new trustee. We share information on all of our poliaes and cover
safeguarding.
Related party relationships
Relaled party transactions are Identified by th8 trust88s on an ongoing basis wtth any trans8ctions
monitored. A conflict of intsrest register is maintained.
Risk statement
The trustees meet on a monthly basi5 to make strategic decisions regardlng the operation of the
Charity and the d8velopment of the facilities. Risk is managed through these meetings.
At present we have a funding gap of £150,000 and are seeklng ways to finance the final stsge of our
project. Whilst we are now operationally sustsinoble, there ar8 more long lerm risks associated with
not C4)mpleling the facility-
From an operational perspective, the trustees continue to fccus on en$U￿ng the sustainability of our
current facilities through monthly financial repothng and review of utilis81ion. We continue to monitor
Inflauon and the impact of this on our overheads. Rising energy costs will impact us in 2024.
Safeguarding of children and vulnerable adults is another area whlch is seen as inherently risky for
ARC. The trustees have adopted and regularly review our policie5 and procedures. We have 2
safeguarding committee who monitor all activities at ARC and ensure the safety and wellbeing of all
users of the centre.
Wlder network involvement
ARC'S future success will be reliant upon reLgining help from volunteers and through building
relationships across a wider netsvork. In 2023 we continued to develop and evolve our volunteer
programme to nurture our culture and provide Opportunities to the wider ¢ommunity. We currendy
have over 30 inducted volunteers working on our programme_
Page 2

Atlantic Racqu•t Centra
Trustees. Report
To ensure the facillties are utlllsed to their maximum potentlal, ARC h85 a wholly ON￿ed subsidiary -
ARC Centre Ltd. This subsidiary is responsible for the trading activltles of ARC induding the
management of the facility on a day lo day basis. Thls has been achleved through a lease of the
premises.
ARC Centre Ltd manage a number of relationships with the wSder communlty. Working dosely with a
number of organisations who use our faciltdes. Our most valuable relationships is wlth ARC Tennls &
Sports Club
a membership organisation with over 1,800 members. ARC Tennis & Sports Club
I{cen￿ the facilities from ARC Centre Ltd for the enjoyynent of their members.
We have eontlnued lo work closely with the Auantic Co-operatlve Tru51- a tharitsble cTroperative
body of seven local prfmary and junior Schools. This working partnership has enabled us to dellver
tennis activities to 7 local prlmary schools. Thls relationship Is key to delivery of our charitable
oblectNes and cnntinuès to be a slgnfficant focus of our work.
During 2023, we have focused on delivery of a fvlly accessible programme with The Northam Care
Trust (NCTI. NCT bring their dienls to our indusive community sessions each week, using all of our
farylities. NCT also have an employee who is regularty on-site to support dients whi15t Using
facilities. We Iwk forward to continuing to strengthen this partnership in 2024.
Objectives and aetlvhles
Publlc benefft
We have referred to tha guldance contained in the Charity Commlssion's general guidance on publlc
benefit when reviewing our aim and objectNes and in planning our future activ(ties. In particular. the
trustees Consider how planned aCti￿tieS will contribute to the alms and objectives they have set. The
trustees have therefore c#)mplied with the duty in se¢th￿ 17151 of the 2011 Charities Act.
Aims and objectives
Our visi
A community racquet and fitness centre where everyone can exercise, socialis8 and develop skills in
a safe and supportive environment.. an organisation that improves Ihe health and w811being of all local
people.
Our mi
Our mlssion is to provide a hlgh qu8lr(y, professionally managed, affordable, sustsinable and
welcoming community sports hub. Our stsff, volunteers and membeT5 wll promote a fun. f8mity
focused, InclusSve ethos across a wide-ranging programme in whSch everyone will be equally valued
and provlded for.
Our 8ims, objectfves and activities each year are reviewed to see ￿81 we have achieved and the
outcomes of our work In the prewous 12 month5. The review looks at the success of our key aCtI￿ty
and the benefits these have brought lo those groups of people we are set up to help. The revlew also
helps us ensure our aim. objectives and activities remain focused on our stated purposes. We have
referred to the guidance contained in the Charty Commission's general guidance on public benefit
when reviewing our aim and objectives and in planning our future activities. In particular, the tnjstees
consider how planned activities WTII (x)ntribute to the aims and objective5 they have set.
Page 3

Atlantic Racquet Centre
Trustees. Report
Use of voluntsers
In additlon to the committed trustees, ARC would not have reached Ihis level of su￿sS WthC￿ the
signfficant number of volunteers who have helped make this project a reallty- Thank you to each and
every one of them. These donated seNices are not included in the SOFA.
Achlevements and porfomiance
hievements
Our key focus during 2023 was to ensure sustainability of the f8alities in the first instance whilst
continuing to secure funding for the remainder of the project. We now offar 2cces5 to multiple
activities induding tennis. squash, racketball, badminton, table tennis, gyTn, changing tsolities and a
changing places facility- The final phase of our bulld will provide a multi-use faeillty. akin to a village
hall, and a community café.
Flnanclal revlew
ARC aims to be in a net asset positlon at the end of each flnancial year. The reserve5 currendy held
represent the assets in use at the facility and cash held for the future developrnent of the facillty. Due
to the nature of the ongoing development work cash is held in easily awesslble bank aecounts to
ensure our fln8ndal liabilitses can be met each month.
Capltallsation policy
The trusteas conslder capita51sing expendtiur& In excess of £500.
Plans ft+r future periods
The trustees are very focused on delivering the rest of the project over tha coming Mts years. We aim
to completo the facilities by December 2025.
Page 4

Atlantic Racquet Centr•
Trustees. Report
Statement of trustees. responslblllties
The trustees (who are also the directors of Atlantic Racquet Centre for the purposes of company lawl
are responsible for preparing the trustees, report and the flnancial statements in accordance with
applicable law and Unlted Kingdom Accounting Stsndards {Uniled Kingdom Generally Accepted
Accountin£ Practice). induding FRS 1 D2 Yhe Finanaal Rewrting Standard applicable in the UK and
Republic of Ireland" The report and accounts have been prepared in accordance with the prov15ions
in the Companies Act 2006 relating to small companies.
Company law requires the truslees to prepare financval statements for each finanual year. Under
company law the trustees must not approve the financi81 statements unl8S5 they are satisfied that
they give a true and fair view of the stste of affalrs of the parent charitable company and the group
8nd of the incomir)g resources and applicatitm of resources, including its income and expenditure, of
the charitsble group for that In preparing these financial staternenls, the trustees are required
to:
seled suitable acC￿)unting policies and apply them consisten￿Y'.
obseNe the methods and principles In the Charities SORP.
make Judgements and estlm8tes that are reasonable and pTudent'
state whether appllcable accounting stsnd8rds, comprising FRS 102 have been followed. subject
to any material departures disdosed and explained in the flnancsal statements., and
prepare the financial statements cn the golng concern basis unless It is in8ppropriate to presume
that the parent eharltable comp8ny will continue In business.
The trustees are responsible for keeping proper accounting records that can disdose wth reasonable
accuracy at 8ny Ilme the financlal position of the parent charitsbSe company and th8 group and enable
them to ensure that the finanu81 statements comply wlth the Companies Act 2006. They are also
responsible for safeguardlng the assets of Ihe parent charitsble company and the group and hence for
laking reasonable steps for the prevention and detection of fraud and other irregularitles.
The trustees are responsible for the maintenance and Intsgrity of the corporate 8nd financlal
information included on th8 charstsble companvs webslte. Legislation govemlng the preparation and
di55emination of financial slatsments may differ from legislation in olher jurisdlctions.
The annual report was approved by th8 trustees of the charity on
behalf by..
2410912024
and signed on its
Anoushka Lynd
Company seuetary and trustee
Page 5

Atlantic Racquet Centre
Independent Examiner's Report to the trustees of Atlantic Racquet Centre {Yhe
Group.)
report to the charity trustaes on my examinatlon of the consolidated accounts of the Group
comprising the Atlantic Racquet Centre and its subsidiary undertakings for the year ended 31
Decembar 2023.
Respon¥ibilities and basls of report
As the Injstees of the Group (and also tts directors for the purposes of company lawl you are
responsible for the preparation of the con501idaÉed accounts in accordance with the requirements of
the Companies Act 2006 ('the 2006 Act'l.
Having satisfied myself that the accounts of both Aliontic Racquet Centre and the Group are not
required to be oudlled under Part 16 of the 2006 Act and are eligible for independent examination, I
report in respect of my examination of your cK)nsolidated accounts as fArried out under section 145 of
the Charities Act 2011 {'the 2011 Act')- In carrying out my ex8minalion I have followed the Dlrections
glven by the Charity Commlsslon under se¢tion 145151{b) of the 2011 Act.
Independent examlnerfs statement
Sinc£ the Group's gross income exGeeded £250,000 your examiner must be a member of a body
Ilsled in sedon 145 of the 2011 Act. I confimi that l am qualified lo undertake the examination
because l am a member of, whith is of the listed bodies.
I have completed my examination. l (x)nfirm that no matters have come to my attention In connection
with the examination giving me cause to believe:
1. accounting records were not kept In respect of Atlantlc Racquet Centre as required by section
386 of the 2006 Act., or
2. the accounts do not accord wth those records; or
3. the accounts do not comply wlth the accounting requirements of sectlon 396 of the 2006 Act
other than any requirement that the acc4)unts give a 'true and falr vlew whith is not a matter
consldered as part of an Independent examlnation: or
4. the accounts have not been prepared in accordance with the methods and princlples of the
ststement of Recommended Practice for accounting and reporting by charities applicable to
charities preparfng Iheir accounts in accordance with the Financial Reporbng Standard
applicable In the UK and Republic of Ireland (FRS 102)-
I have no concems and have come across no other mattÈrs In connection with the examlnatKJn to
which attention should be drawn in this report in order to enable a proper unde¥standing of the
accounts to be reached.
'Catherine Williams FCA Dch
Westcotts (SWI LLP
Chartered Accountants & Statutory Auditor5
47 Boutport Street
Bamstsple
Devon
EX31 1SQ
Datg:zl
Page 6

Atlantic Racquet Centre
Consolidated Statement of Financlal Actlvities for the Year Ended 31
December 2023
{Including Consolidated Income and Expendlture Account and Statement of
Total Recognised Gains and Losses)
Unrestricted
funds
Restrlcled
funds
Total
2023
Total
2022
Nots
Income and Endowments from:
Donatlons and legacies
Other trading activtties
Investment income
other income
45,802
14,889
69
206,481
12,162
40
57.964
14,929
69
206.481
197,362
7.592
103
119.013
Total income
267.241
12,202
279,443
324,070
Expendlture on:
Raising funds
Charitsble activities
15,998)
{231,6821
(5,998)
1249,851
{255,849)
23.594
11.619)
(216,4301
18.169)
Totsl expenditure
1237,6801
{18,1691
(5,967
1218,0491
Net incomel{expenditure)
Net movement in funds
29.561
106,021
29,561
15.967)
23.594
1(￿,021
Reconclliation offunds
Total funds brought forward
1,728,416
1,7S7,977
909,840
903,873
2.638,256
2.532.235
Totsl funds carried forward 24
2.661.850
2,638.256
AYI of the group's activities derive from continuing operations during the above periods.
The funds breakdown for 2022 is shown in note 24.
The notes on pages 12 to 29 fomi an integral part of these financial statements.
Page 7

Atlantic Racquet Centre
(Registratlon number: 07829589)
Consolldated Balance Sheet as at 31 December 2023
2023
2022
Note
Flxed assets
Tangible assets
16
3.427.157
3.360,355
Current assèts
stocks
Debtors
Cash at bank and in hand
18
19
3,634
10.137
56.050
3,105
14,215
97,935
69.821
115,255
Creditors: Amounts falling due withln one year
21
140,800
159,757
Net currant Ilabllltles
0,979
144,502)
Total assets less Gurr&nt liabllltles
3,356,178
3,315.853
{677,597)
2.638,256
Creditors: Amounts falling due after more than one year 22
Net assets
694,3281
2,661.850
Funds of the group".
Restrlcted Incomg funds
Restricted fijnds
903,873
9)9,840
Unrèstrlcted incomè funds
Unrestricted funds
1,757,977
2,661.850
1,728.416
2,638,256
Total funds
24
For the year endlng 310ecember 2023 the charity was entided to exemption from audit under section
477 of the Companies Act 2006 relating lo srrball companies.
Directors. responsibilities:
The membeTS have not required the company to oblain An audit of Its financial 5tst8ments for
th& year in question in aC￿rdanCe with sectron 476;
The directors acknoMAedge their responsibilitles for complylng vrfith the requlrements of the AGt
with respect to accounting records and the preparatlon of financial statements.
These financial ststements have been prepared in accordance with the spedal provisions relating to
companies subject lo the small companies regime within Part 15 of the Companies Act 2006.
The notes on page$ 12 to 29 form an integral part of those finanaal statements.
Page 8

Atlantic Racquet Centre
(Registration number: 07829589)
Consolidated Balance Sheet as at 31 December 2023
21k8115giclal ststements on pages 7 to 29 were approved by tho truslees, and authorlsed for issué on
. 8nd signed on thwr behalf by,
Anoushka Lynd
Company secretary and trustee
The notes on pages 12 to 29 fom an integral part of these finanual statements.
Page 9

Atlantic Racquot Contre
(Registration number: 07829589)
Balance Sheet as at 31 December 2023
2023
2022
Note
Fixed assets
Tangible assets
Investments
16
3.368.341
3,292,143
3,368,342
3.292,144
Current assets
Debtors
Cash at bank and in hand
19
20
16,879
35.069
14,925
51,948
108,968
Crnditors: Amounts falllng due wlthin ong yéar
21
120,448
1149,828)
Net currant liabilitles
168,500)
140,8601
Total assèts less current Ilabllltles
3,299,842
{604,195
2.695,647
3,251,284
Credltors: Arnounts falling due after more than one year 22
Net assets
581,063
2.670.221
Funds of the charity:
Restricted incomtr ￿ndS
Restricted funds
903,873
909,840
Unrestrfcted income funds
Unreslricted funds
1,791.774
1,760,381
Totsl funds
24
2.695,647
2,670.221
For the year ending 31 December 2023 the charity was entrtled to ex8mptbon from audit under section
477 of the Companies Act 2006 relating to small companies.
Directors. responsibiliUes".
The members have not required the company lo obtain an audit of Its financial statemgnts for
the year in question In accordan￿ wth sethlon 476;
The directors acknovAedge their responsibilities for ¢omplyng with th8 requirements of the Act
with respect to accounting records and the preparation of financial statements.
These finanual statements have been prepared in ocGordance with the special provisions relating to
companies subject to the small companles regime within Part 15 of the Companies Act 2006.
Th8 note8 on pages 12 to 29 fom) an integral part of these financial ststements.
Page 10

Atlantlc Racquet Centre
(Reglstralion number: 07829589)
Balance Sheet as at 31 December 2023
cial statements on pages 7 to 29 were approved by the trustees, and auth￿Sed for issue on
. and signed on their behalf ty-
noUs1￿(a Lynd
Company seuetary and tsustee
The note8 on pages 12 to 29 form an integfal part of Ihese finanaal ststements.
Page 11

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2023
1 Charfty status
The charity is limited by guarantee, lncorpc￿ted In England and Wales, and cOnsequen￿Y dces not
have share capital. Each of the trustees is Ilable to contribute an amount not exceeding £1 lowards
Ihe assets of the charty in the event of liquidalion.
The address of Its registered office is:
Atlantic Racquet Centre
Fami Road
Clovelly Road Industrial Estate
Bideford
Devon
EX39 38E
2 Accounting policies
Sumrnary of significant accountlng pollcles and key accountlng estlmatss
The principal accounting policies applied in the preparation of these financial statements are set out
below. These policies have been ConsiSten￿Y applied to all the yaars presented, unless otherwse
statgd.
Statement of compllance
The financial statements have been prepared In 8ccordonc6 wlth Accounting and Reportlng by
Charities: Ststement of Recommended Practice {8pplicable to charities preparing their Èecounts in
accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS
10211 (issued in October 2019) - (Charities SORP (FRS 1021), the Fln8ncial Reporting Standard
applicable In the UK and Republlc of Ireland (FRS 1021 and the Companies Act 2C#)6.
Basls of preparotlon
Adantic Racquet Centre meets the definition of 8 public benefit enlity under FRS 102. Assets and
liabil￿eS are Initially recryJnised al historical cost or transaction value unless otherwise ststed in the
relevant accounting policy notes. The financial statements are prepared in sterling which is the
functional curfency of the entity.
Basls of consolidation
The consolidated finan￿al statements consolidate the financi81 statements of the tharily and ils
subsidiaries ARC Centre Limiited. company number 09357363 and ARC So18r Limited, company
number 13360598, registered address Allanfjc Racquet Centre. Caddsdown Industrial Park, EX39
3DX
No statement of f5nancial actNlties is presented for the chadty as permitted by section 408 of the
Companies Act 2006. The charity made a loss after lax for the financial year of £25,426 {2022 - Ioss
of £137,969).
Page 12

Atlantic Racquet Centre
Notes to the Flnanclal Statements for the Year Ended 31 December 2023
A subsidiary is an entity controlled by the chadty. Control is achieveé where the charity ha5 the power
to govern the financlal and operating policies of an enlty so as to obtain benefits from its adiwties.
The results of subsidiaries acqulred or disposed of during the year are Included in the statement of
financial activities from the effective date of 80]uisition or up to the effective date of disposal, as
appropriate. whe￿ ne￿sary. adjustments are made to the financial statements of subsidiaries to
bring their accounting policies into line with those used by the group.
Inter-company transactions, balances and unrealised gains on transactions betsveen Ihe charity and
its subsidiaries. whlch are related parties. are eliminated in fijll.
Exemptlon from preparlng a cash flow statement
The charity opted to adopt Bulletin 1 published on 2 Febnjary 2016 and have therefore T￿1 induded a
cash flow ststement in these financial ststements.
Golng concem
The trustees consider that there are no material uncertainties about the group's abilty to continue as
a going concèm nor any Sign￿tant areas of uncertalnty that affect the catyng value of assets held by
the group.
Income and endowments
All income Is recognlsed once the charity has entluement to the Incnme, it is probable that Ihe Income
will be received and the amount of the income receivable can be measured reliably.
Donations and lagacies
Oonations are recognised when the d)8rity has been notified in wrltlng of both the amount and
sel￿ement date. In the evènl that a donation is subject to conditlons that require a level of
performance by the charity before the charity is entitled to the funds. the Income is deferred and not
recognised until either those conditions are fully met, or the fijffilment of those conditions Is wholly
within the control of the charity and r( is probable that these condltions wll be fulfilled in the reFKMling
pericd.
Grants receivable
Granls are recognised when the group has an entitlement lo the fvnds and any conditions linked lo
the grants have been met. Where performance condltlons are attached to the grant and are yet to be
met. the income is recognised as a li8bility and induded on the b818nce sheet as deferred income to
be released.
Investment incon
Dividends are recognised onc& the dividend has been declared and notrfication has been received of
the dividend due.
P8ge 13

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 Decembor 2023
Expendlture
All expenditure is recognlsed once there is a legal or constwctive obligation to that expenditure, it is
probable settlement is required and the amount can be measured reliably. Al costs are allocated to
the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot
be directly attributed to particular headings they have been allocated on a basis consistent with the
use of resources, with central staff costs allocated on the basis of time spent, and depreciation
charges 811ocated on the portw of the Èsset's use. Other support costs are allocated based on the
spread of staff costs.
Raising funds
These are costs incurred in attracting vduntary incorne, the management of investments and those
Incurred in trading 8Ctivitses that ralse funds.
Charltable acdvltles
Charitsble expenditure comprlses those costs incurred by the charity In the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly lo such actimties
and those ￿$ts of an indirect nature necessary to support them.
Support costs
Support costs indude central functions and have been all￿ted to activity cost categories on a basis
nsistent with the use of resources, for example. allocating propety costs by Iloor areas. or per
capita, staff costs by the tlme spent and other costs by their usage.
Taxatlon
The charity is o)nsidered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the deffinition of a charitable ￿[llpanY for UK corp)ration tax puysses.
Accordlngly, the charity is potentially exempt from tsxation in respect of income or capital galns
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exdusively to charitable purposes.
Tanglble fixed assets
Individual fixed assets costing £500 or more are initially recorded 8t cost, less any subsequent
accJJmu18ted depreaation and subsequent accumulated impairment losses.
Deprèclatlon and amortisation
Depreciation is provided on tanglble fixed assets so as to write off the cost or valuation. less any
estimated residual value, over Iheir expected useful economic life as foltows:
Asset class
Land and buildings
Court & Floodlights
Equipment
Clubhouse
Deprecialion mèthod and rate
2°A straight lin
5°/0 Straight line
25°% straight lin8
100k straight Ilne
Page 14

Atlantic Racquet C•ntre
Notes to the Financial Ststements for the Year Ended 310ecembèr 2023
Cash and cash equlvalents
Cash and cash equivalents comprise cash on hand and call deposlts, and other short-term highly
liquid investmÈnts that are readily convethble to 8 known am￿jnt of cash and are subject to an
insignificant risk of change in value.
Borrowlngs
Inlerest-bearing borrowings are initially recorded at fair valu&, net of transaction costs.
Interest-bearing b()rrowings are subsequently carried at amortised cost, with the difference between
the proceeds, net of transaction costs, and the amount due on redemption being recognised as a
charge to the Statement of Finaneial Activities over the period of the relèv2nl ￿rrOW￿g.
Interest expense is recognised on the basls of the effectkve interest method and Is Induded in Interest
payable and similar charges.
Borrowings are classrfied as cllr￿nt liabilities unless the charity has an uncK)Thjit￿a7 right to defer
sewement of the liability for at least tselve months after the reporting date.
Fund structure
Un￿$t￿cted income ftjnds are general funds that ar& avallable for use at the trust8es dlscretion in
furtherance of the objectlves of the group.
Designated funds are unrestricted funds earmarked by the trustees for parbeular future project or
commitment.
Restricted income ftjnds are those donated for use in a particular Èrea or for specific purposes, the
use of which is restricted to that area or purpose.
Pen51ons and other post retlremènt obllgatlons
The group operates a defined contribution pension schem8 which is a pension plan under whidj fixed
contributions are paid into a pension fund and the group has no legal or constructive obligation to pay
further contributions even If the fund does not hold sufficSent assets to pay all gmployees the beneffts
relating to employee serwce in the current and prior periods.
Contributions to defined Contribution plans are recognised in the Statement of Fln8ncial Activitles
when they are due. If contribution payments exceed the contribution due for service, the excess is
recognlsed as a prepayment.
Flnanclal Instruments
Classification
Financlal assets and financial liabilitses are recognised when the group becA)mes a paty to the
contractual provislons of the instrument.
Financial liabilities and equlty Instnjments are dassified according to Ihe substance of the contractual
arrangements entered into. An equlty instrument Is any contract that evidences a residual Interest in
the assets of the group after deducting all of its liabilits"es.
Pagg 15

Atlantic Racquet Centre
Notes to the Flnancial Ststements for the Year Ended 31 December 2023
Recognitlon and measurement
All financsal assels and liabilrties are Inltially measured at transaclion price linduding transaction
costs), except for Ihose financial assets dass6fied as at fair value through profit or loss, which are
initially measured at fair value (which Is nomially the transaction price excluding tr8nsaclion costs),
unless the arrangement constitutes a fin2nang transaction. If an arrangement constltutes a finan¢ing
transaction. the financial assel or financial liablllty is measured at the present value of the fvture
payments discounted al 8 market rate of interest for a slmllar debl instrument.
Finandal assets and liabilities are only offset in the statement of finanaal position when, and only
when there exists a legally enforceable right lo set off the recognlsed amounts and the group intends
either to se￿e on a net basis, or to realise the asset and setde the liability simultsneously.
Financial assets are derecognised when and only when al the contractual rights to the cash flows
from the finanual asset expire or are setued. bl the group transfers to another paty substantially all of
the risks and rewards of ownership of the financial asset, or c} the group, despite hawng retsined
some. bul not all, signfficant risks and rewards of ownership, has transferred ￿ntrol of the asset to
another paty.
Flnancial liabillties ore dereccgnised only when the obligation spedfied in the contract is discharged,
cancelled or expires.
Invostments
Investments in non-convertible preference shares and non-puttable ordinary or pref&rence sh8res
(where shares are publicly traded or their fair value is reliably measurable) are measured at fair value
through profit or loss. Where falr value cannot ￿ measured reliably, Investments ara measured at
cost less impairment.
Inveslments In subs1dla￿es and 8ssociates are measured at cost less impaimient. For investments In
subsidi8ries acquired for consideration including the issue of shares qualityng for merger relief. cost
is measured by reference to the nominal value of the sh8res Issued plus fair value of other
consideration. Any premium is ignored.
Derlvative financial Instruments
The group uses derivative financial instruments to r8duce frxposure to foreign exchange risk and
interest rate movements. The group dogs not hold or issue derivative finanaal Instruments for
speculative purposes.
Derivatives are initially recognlsed at falr value at Ihe dats a derivative contract is entered into and are
subsaquenuy reme8sured to their fair value at each reporbng date. The resulting gain or loss is
recognised in statemenl of financial activitlés Immedlately unless the derivative is designated and
effective as a hedging instrument. in which event the timing of the recOgn￿on in slatemenl of financial
activities depends on Ihe nature of the hedge relationship.
Fair value measurement
The best evidenc& of fair value Is a quoted prTce for an identical asset in an active market. Wl*n
quoted prices are un8vailable, the prlce of a re￿nI transaction for an identical asset provides
evidence of fair value as long as there has not been 8 significant change in economic circumstsnces
or a significant lapse of time since Ihe transaction took place. If the market is not active and recent
transactions of an identical asset on their own are not a good estimate of fair value, the fair value is
estimatad by using a valuation technique.
Page 16

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2023
3 Income from donations and legacies
Unrestrlcted
funds
General
Restrlcted
funds
Total
2023
Donatlons
Donations
Grants
Grants received
44.252
44,252
1,550
12.162
12,162
13,712
57,964
45,802
Unrestrlcted
funds
General
Restrlcted
funds
Total
2022
Donatlons
Donations
Grants
Grants received
50,488
2.306
52,794
173
144,395
144,568
50,661
146,701
197.362
4 Incomfr from other trading activities
Unrestricted
funds
Gèneral
Restrl¢ted
funds
Totsl
2023
Fundraising events
Merchandise income
Food and drink
1,620
661
12,608
14,889
40
1,660
661
12,608
14,929
40
Unrestricted
funds
General
Total
2022
Fundraising events
Merchandise income
Food and drink
173
836
6.583
173
83
6,583
7,592
7,592
Pag8 17

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2023
5 Investment income
Unrestrictsd
nds
General
Total
2023
Interest receivable on bank deposits
69
6g
Unrestrlcted
funds
General
Total
2022
nterest recewable on bank deposits
103
103
6 Other In¢ome
Unrestrlcted
funds
Gènernl
Total
2023
Income from facIl￿Y hlre
Licence income
Other revgnue
156,640
27.CK)O
22,841
206.481
156,640
27.000
22,841
206.481
Unrestricted
funds
General
Totsl
2022
Income from facllity hlre
Llcence Incom8
other revenue
103,735
13,500
1,778
103,735
13,500
1.778
119,013
119.013
Page 18

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2023
7 Expenditure on raislng funds
Costs of tradlng actlvltles
Unrestrlcted
funds
Ganeral
Total
2023
Direct costs
5.998
5,998
Llnrestrictèd
funds
General
Total
2022
Direct costs
1.619
1,619
8 Expendlture on charltable actlvltles
Unrestrictsd
funds
Gener81
Restrlcted
funds
Total
2023
Note
Sports & fitr)ess activlties
Support costs
208,157
23,525
18,169
226,326
23.525
231.682
18,169
249,851
Unrestricted
funds
General
Restricted
funds
Total
2022
Note
Sports & frtness activrties
Support costs
172,636
22,357
194,993
21,437
194,073
22,357
216,430
21,437
Page 19

Atlanti¢ Racquet Centre
Notes to the Flnanclal Statements for the Year Ended 31 December 2023
9 Analysls of support costs
Support costs allocated to charltable activilies
Tolal
2023
Total
2022
Advertising
Bank charges
General expenses
Finance Charges
Legal and profession81
Auditorg fees
Independenl examinati)n fees
Telephone
Interest payable
1,231
202
8.802
5,342
3,250
1,311
182
8.582
2.556
4,095
1,6SO
2,548
500
1,587
660
23.525
22,357
10 Net incomingloutgoing resources
Net incoming resources for the year indude:
2023
2022
Depreciation of fixed assets
98.214
94,343
11 Trustees remuneratlon and expensas
No trustees, nor any porsons connected wth them, have received any remuneration from the group
during the year.
No trustees have received any reimbursed expenses or any other benefits from Ihe charity durtng the
year.
Page 20

Atlantic Racquet Centr•
Notes to the Financial Statements for the Year Ended 31 December 2023
12 Staff costs
The aggregate payroll costs were as follows..
2023
2022
Staff costs durlng the year were:
Wages and salaries
Social security costs
Pension costs
25,285
22,450
895
507
3,861
29,146
23,852
The monthly average number of persons linduding senior management I leadership team) employed
by the group during the year expressed as fvjll lime equlvalents was as follows:
2023
No
10
2022
No
Coachlng and 8dmin slaff
No employee received emoluments of more than £60,000 during the year.
13 Independent examlnerfs rnmuneratlon
2023
Examination of the finanaal statements
1,850
14 Auditors. remuneration
2022
Audit of th8 finanoal ststements
4.095
Page 21

Atlantic Racquet Centre
Notes to the Flnanclal Statements for the Year Ended 31 De¢ember 2023
15 Taxation
The group is 8 registered charity and Is therefore exempt from taxation.
16 Tangible fixed assets
Group
Furniture
Land and
and
Solar
buildings equipmènt Clubhouse Equlpment
Total
Cost
At 1 January 2023
Add￿OnS
3.422,919
164.132
79.630
24.661
80.446 3,607,656
165,018
At 31 December 2023
3,587.051
80,516
24,661
80,446 3,772,674
Depreciatlon
At 1 January 2023
Charga for the year
177.545
69,241
35,3C
18.463
18,360
2.467
16,090
8.045
247.301
98,216
At 31 December 2023
246,786
53,769
20,827
24.135
345,517
Ngt book value
At 31 December 2023
3.340.265
26,747
3,834
56,311 3.427.157
At 31 December 2022
3,245.374
44,324
6,301
64,356 3.360,355
Pagg 22

Atlantic Racquet Centra
Notes to the Financial Statements for the Year Ended 31 December 2023
Charlty
Furnlture
and
equlpmenl
Land and
buildings
Clubhouse
Totsl
Cost
At 1 January 2023
Additsons
3.422.919
164,132
74,224
24.661 3,521,804
165.018
At 31 December 2023
3,587.051
75,110
24,661 3,686,822
Depreclatlon
At 1 January 2023
Charge for the year
At 31 December 2023
177,545
69,241
33.756
17,112
18.360
2,467
229,661
88,820
246.786
50.868
20,827
318.481
Net book value
Al 31 December 2023
3,340.265
24.242
3,834 3,368.341
At 31 Detsmber 2022
3,245.374
40,468
6,301 3,292.143
17 Fixed assèt Investments
Charlty
Shares in group undertakings and participating Interests
Subsidiary
undertakings
Cost
At 1 January 2023
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
18 Stock
Group
2023
2022
Raw materials
3.634
3,105
Page 23

Atlantlc Racquet Centre
Notes to the Flnanclal Statements for the Year Ended 31 December 2023
19 Debtors
Group
2023
Charfty
2023
2022
2022
Trade debtors
Due from group undertakings
PrepayTrents
VAT recoverable
Other debtors
7,485
2,311
13,000
2,652
1.227
2,652
3,078
8.219
607
3,078
11,847
10,137
14,215
16,879
14,925
20 Cash and cash equlvalents
Group
2023
Charity
2023
2022
2022
Cash at bank
56.050
97,935
35,069
94.043
21 Credltors: amounts falllng due withln one year
Group
2023
Charlty
2023
2022
2022
Bank loans
Trad8 creditors
other loans
Payments on account long
lemi conlracls
Due to group undertakings
Other tsxation and sodal
security
Accruals
6,400
10,210
111,645
6.400
6.907
139,377
6.755
111,64S
5,864
139,377
104
4,997
7.548
2,762
4.207
2.048
4,207
149,828
140.800
159.757
120,448
22 Credltors: amounts falling due after one year
Group
2023
Charlty
2023
2022
2022
Other loans
694,328
677,597
604.195
581.063
Page 24

Atlantlc Racquet Centré
Notes to the Financial Statements for the Year Ended 31 December 2023
23 Contlngent1Sabilities
Charity
If Adantic Racquet Centre fails to complete the build of the Centre the grants re￿Ned from StM)rt
England tolalling £485,000 will be repayable on demand.
24 Funds
Group
Balance at 1
January
2023
Balance at
Resources 31 December
expended
2023
Incomlng
resources
Unrestricted funds
General
General Funds
1.728,416
267,241
{237,680)
1,757,977
Restrlcted funds
Phase 1 and 2
Changing places
Equipment Fund
908.509
1,331
40
(18,1691
890,380
1.331
12.162
12.162
909,840
12,202
18.1691
903,873
Total funds
2.638,256
279,443
{255,849
2,661.850
Page 2S

Atlantic Racquet Centra
Notes to the Financial Statements for the Year Ended 31 December 2023
Balante at
31
Decamber
2022
Balance at Balance at
1 January
1 January Resources
2022
2022
expended
Transfers
Unrestrithd fvnds
Gen•ral
General Funds
1.743.854
177.369
1196,612)
3,805
1,728,416
Restrlcted funds
Phase 18nd 2
Changing placos
Table Tennis DonalK)n
Kickstart Funding
Equlpment Fund
TDC Councillor Grant
787.050
1,331
140.OC(I
{18,5411
908,509
1,331
999
2,896
2,306
500
19991
{2,896)
12,3061
500
788,381
146,701
(21,437)
13.805
909,840
Total funds
2.532,235
324.070
218,049)
2.638,256
Page 26

Atlantic Racquet Centre
Notes to the Financlal Ststements for the Year Ended 31 December 2023
Charlty
Balance at 1
January
2023
Balance at
Resources 31 December
expended
2023
Incoming
resources
Unrestrlcted funds
Gènwal
General Funds
1,760,381
127,591
196,1981
1,791,774
Restricted funds
Phase 18nd 2
Changing places
Equipment Fund
908,509
1,331
40
118,169)
890.380
1,331
12,162
12.162
12,202
909,840
18,169
3,873
Total funds
2,670,221
139,793
1114,367
2,695.647
Balancè at
31
Dècember
2022
Balante at
1 January
2022
Incomlng Rosources
reyources
oxpended
Transfers
Unrestricted funds
G•neral
General Funds
1,743,871
106,914
{94,209)
3,805
1,760,381
Restricted funds
Phase 1 and 2
Changing places
Table Tennis Donation
Equipment Fund
TDC Councillor Grant
787.050
1,331
140,000
(18,5411
908.509
1,331
999
2,306
500
(9991
(2,3061
500
788,381
143,805
(18,541
13.8051
909,840
Total funds
2,532,252
250,719
1112,750
2,670,221
P8ge 27

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2023
The phase 1 and 2 fund balance represents grant income received in respect of phases 1 and 2 of the
project.
Changlng places funding has been received towards disabled facilities.
Defibrillator- money raised to enable ARC to have a defibrillator onstie. This has been completed with
surplus rnoney being raised to enable ongoing maintenance costs.
Bideford Brfdge Trust - Durfng 2020 fvnding was receNed towards equipment which has been fully
spent In 2021.
Table Tennis donation - received in 2022 towards lable tennis surrounds. this was fijlly spent in 2022.
Kickstart funding - govemment ￿ndIng received 8s part of the Kickstart Scheme to create new jobs
for 16 to 24 year olds
Equipment fund- fundlng received towards badminton equipment and to support badminton activities.
During the year grants 8nd donations received towards the purchase cf fixed assets have been
released to unrestricted reserves the restrictDn on the funds has been released by the
purchase of the assets.
25 Analysis of net assets between funds
Group
Totsl funds
at31
Decembèr
Unrestricted
funds
General
Restrlcted
funds
2023
Tanglble fixed assets
Cuffent assets
Current liabilities
Creditors over 1 year
2,524,615
69,717
1142,027}
1694,328
1.757,977
902,542
1,331
3,427.157
71,048
{142,027)
694.328)
2,661,850
Total net assets
903,873
Total fund$
at31
DeGember
2022
Unrestrlcted
funds
General
Rèstrlcted
funds
Tangible fixed assets
Cu￿ent assets
Cu￿ent liabiliues
Creditors over l year
2,451.177
114,147
{160,137)
{677,597
1,727.590
908,509
1,331
3,359,686
115,478
1160,137)
677,597
Total net assets
909,840
2,637,430
Page 28

Atlantic Racquet Centre
Notes to the Flnancial Ststements for the Year Ended 31 December 2023
Charity
Total funds
at31
December
2023
Unrestrictsd
funds
Genernl
Restricted
funds
Tangible fixed 8ssets
Fixed asset Investments
Current assets
Current liabilities
Creditors over 1 year
2.465.799
902,542
3,368,341
50,617
(120,448)
1604,195)
1,791.774
1,331
51,948
1120,4481
1604,195)
2.695.647
Total nel assets
903.873
Total funds
at31
Decèmbèr
2022
Unrestrlctsd
funds
General
Reslricted
funds
Tangible fixed assels
Fixed asset Investments
Current assets
Current liabilitses
Creditors over 1 year
2,383,634
908.509
3.292.143
107.637
(149,828)
581.063)
1,760.381
1.331
108,968
(149,828)
581,063)
2,670,221
Total net assets
909,840
26 R&lated party transaction$
Group
There were no related paty trdnsgctions in the year.
Charlty
There were no related party transactions in the year.
Page 29