Company reglstration number: 07829589
Charity registration number. 1156455
Atlantic Racquet Centre
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 December 2024
WESTCOTTS
CHARTEREP ACCCIVNTANTS
• HU$INESS ADVISERS

Atlantic Racquet Centre
Contents
Reference and Admlnlstrative Detalls
Trustees, Report
2to5
Independent Examiner's Report
Consolidated Statement of Financial Activitles
Consolidated Balance Sheet
8t09
Balance Sheet
10t011
Notes to the Financial Statements
12to29

Atlantic Racquet Centre
Reference and Administrative Details
Trustees
Anoushka Lynd
Neil Damley
Mark Clayton
Atlantic Coast Co-operative Trust
David Vinall
The Northam Care Trust
Secretary
Anoushka Lynd
Charity Registration Number
1156455
Company Registration Number 07829589
The charity is incorporated in England and Wales.
Atlantic Racquet Centre
Farm Road
Clovelly Road Industrial Estste
Bideford
Devon
EX39 3BE
Reglstered Office
Independent Examlner
Westcotts (SW) LLP
Chartered Accountants & Ststutory Auditors
47 Boutport Street
Bamstaple
Devon
EX31 1SQ
Page 1

Atlantic Racquet Centre
Trustees. Report
The trustees. 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 December 2024.
Structure, governance and management
Organisational structure
The directors of the company are also charity trustees for the purposes of charity law. All of the
trustees give their time voluntarily and received no benefits from the charity. Any expenses redaimed
from the charity are set out in note 10 to the accounts.
Anoushka Lynd is the Chief Executive Officer for the charity.
Recruitment and appointment of trustees
Under the requirements of the Memorandum and Articles of Association one third of the directors
stood down at the AGM held in February 2023 and were subsequently re-elected. At each subsequent
general meeting one-third of directors must retire from Offi￿ but are eligible to stand for
reappointment.
Induction and training of trustees
We have 8 full induction programme in place for all new trustees which covers information about the
charity and the expectations of a new trustee. We share information on all of our policies and cover
safeguarding.
Related party relationships
Related party transactions are identified by the trustees on an ongoing basis with any transactions
monitored. A conflict of interest register is maintained.
Risk statement
The trustees meet on a monthly basis to make strategic decisions regarding the operation of the
Charity and the development of the facilities. Risk is managed through these meetings.
At present, our facilities remain incomplete and we continue to fundraise for the remaining £150,000
required. Whilst we are now operationally sustainable, there are more long- term risks associated with
not completing the facility.
From an operational perspective, the trustees continue to focus on ensuring the sustainability of our
current facilities through monthly financial reporting and review of utilisation. We continue to monitor
inflation and the impact of this on our overheads. Rlsing energy costs, increases in rates. additional
national Insuran￿ contribution costs and rises in national minimum wage will impact us in 2025.
Safeguarding of children and vulnerable adults is another area which is seen as inherently risky for
ARC. The trustees have adopted and regularly review our policies and procedures. We have a
safeguarding committee who monitor all activities at ARC and ensure the safety and wellbeing of all
users of the centre.
Wider network involvement
ARC'S fvture success will be reliant upon retaining help from volunteers and through building
relationships across a wider network. In 2024 we continued to invest in our successful volunteer
programme which nurtures our culture and provides opportunities to the wider community. We have
over 30 inducted volunteers working on our programme.
Page 2

Atlantic Racquet Centre
Trustees. Report
To ensure the facilities are utilised to thelr maximum potential, ARC has a wholly owned subsidiary
ARC Centre Ltd. This subsidiary is responsible for the trading activities of ARC induding the
management of the facility on a day to day basis. This has been implemented through a lease of the
premises.
ARC Centre Ltd manage a number of relationships with the wider community. Working closely with a
number of organisations who use our facilities. Our most valuable relationships is with ARC Tennis &
Sports Club - a membership organisation with over 2,000 members. ARC Tennis & Sports Club
licence the facilities from ARC Centre Ltd for the enjoyment of their members.
We have continued to work closely with the Atlantic C(Foperative Trust - a charitable co-operative
body of seven local primary and junior schools. This working partnership has enabled us to deliver
tennis activities to 7 local primary schools. This relationship is key to delivery of our charitable
objectives and continues to be a significant focus of our work.
During 2024. we have delivered a fully ac￿Ssible programme with The Northam Care Trust (NCT).
NCT bring their clients to our inclusive community sessions each week, using all of our facilities.
Objectives and activities
Public benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public
benefrt when reviewing our aim and objectives and in planning our future activities. In particular. the
trustees consider how planned activities will contribute to the aims and objectives they have set. The
trustees have therefore complied with the duty in section 17(5) of the 2011 Charities Act.
Aims and objectives
Our vision
A community racquet and fitness centre where everyone can exercise. sociallse and develop skills in
a safe and supportive environment,. an organisation that improves the health and wellbeing of all local
people.
Our mission
Our mission is to provide a high quality, professionally managed. affordable. sustainable and
welcoming community sports hub. Our staff, volunteers and members will promote a fun. family
focused, inclusive ethos across a wide-ranging programme in which everyone will be equally valued
and provided for.
Our aims. objectives and activities each year are reviewed to see what we have achieved and the
outcomes of our work in the previous 12 months. The review looks at the success of our key activity
and the benefits these have brought to those groups of people we are set up to help. The review also
helps us ensure our aim. objectives and activities remain focused on our stated purposes. We have
referred to the guidance contained in the Charity Commission's general guidance on public benefit
when reviewing our aim and objectives and in planning our future activwties. In particular, the trustees
consider how planned activities will contribute to the aims and objectives they have set.
Page 3

Atlantic Racquet Centre
Trustees. Report
Use of volunteers
In addition to the committed trustees, ARC would not have reached this level of success without the
signlficant number of volunteers who have helped make this project a reality. Thank you to each and
every one of them. These donated services are not included in the SOFA.
Achievements and performance
Achievements
Our key focus during 2024 was to ensure sustsinability of the facilities in the first instance whilst
continuing to secure fundlng for the remainder of the project. We now offer access to multiple
activities including tennis, squash, racketball, badminton, table tennis, gym, changing facilities and a
changing places facility. The final phase of our build will provide a multi-use facility, akin to a village
hall, and a community café.
Financial revlew
ARC aims to be in a net asset position at the end of each financial year. The reserves currently held
represent the assets in use at the facility and cash held for the future development of the facility. Due
to the nature of the ongoing development work cash is held in easily accessible bank accounts to
ensure our financial liabilities can be met each month.
Capitslisation pollcy
The trustees consider capitalising expenditure in excess of £500.
Plans for future periods
The trustees are very focused on delivering the rest of the project over the coming two years. We aim
to complete the facilities by December 2026.
Page 4

Atlantic Racquet Centre
Trustees. Report
Statement of trustees, responsibllltles
The trustees (who are also the directors of Atlantic Racquet Centre for the purposes of company law)
are responsible for preparing the trustees, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland" The report and accounts have been prepared in accordance with the provisions
in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare financial statements for each financial year. Under
company law the trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of the parent charitable company and the group
and of the incoming resources and application of reSoUr￿s. including its income and expenditure. of
the charitable group for that period. In preparing these financial statements, the trustee5 are required
to:
select suitable accounting policies and apply them con5i5tently,
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards. comprlslng FRS 102 have been followed. subject
to any material departures disclosed and explained in the financial statements., and
prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume
that the parent charitable company will continue in business.
The trustees are responsible for keeplng proper accounting records that can disclose with reasonable
accuracy at any time the financial position of the parent charitable company and the group and enable
them to ensure that the flnancial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the parent charitable company and the group and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial
Information included on the charitable companys website. Legislation governing the preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies
Act 2006.
The annual report was approved by the trustees of the charity on 2610912025
behalf by:
and signed on its
Anoushka Lynd
Company secretary and trustee
Page 5

Atlantic Racquet Centre
Independent Examiner's Report to the trustees of Atlantic Racquet Centre ('the
Group.)
I report to the charity trustees on my examinatlon of the consolidated accounts of the Group
comprising the Atlantic Racquet Centre and Its subsidiary undertakings for the year ended 31
December 2024.
Responsibilities and basis of report
As the trustees of the Group {and also its directors for the purposes of company law) you are
responsible for the preparation of the consolidated accounts in accordance with the requirements of
the Companies Act 2006 ('the 2006 Act.).
Having satisfied myself that the accounts of both Atlantic Racquet Centre and the Group are not
required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I
report in respect of my examination of your consolidated accounts as carried out under section 145 of
the Charities Act 2011 {'the 2011 Act')- In carrying out my examination I have followed the Directions
given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Group's gross income exceeded £250,000 your examiner must be a member of a body
listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination
because l am a member of , which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection
wlth the examination giving me cause to believe:
1. accounting records were not kept in respect of Atlantic Racquet Centre as required by section
386 of the 2006 Act; or
2. the accounts do not accord with those records. or
3. the accounts do not comply with the accounting requirement5 of section 396 of the 2006 Act
other than any requirement that the accounts give a 'true and fair view, whlch is not a matter
considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charitles applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102)-
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.
Catherine Williams FCA DChA
Westcotts (SW} LLP
Chartered Accountants & Statutory Auditors
47 Boutport Street
Bamstaple
Devon
EX311SQ
P8ge 6

Atlantic Racquet Centre
Consolidated Statement of Financial Activities for the Year Ended 31
December 2024
(Including Consolidated Income and Expenditure Account and Statement of
Total Recognised Gains and Losses)
Unrestricted
funds
Restricted
funds
Total
2024
Total
2023
Note
Income and Endowments from:
Donations and legacies
other trading activities
Investment income
other income
9.866
11.552
500
10.366
11,552
57.964
14,929
69
206.481
228.709
228.709
Total income
250,129
500
250.629
279,443
Expenditure on:
Raising funds
Charitable activities
(6,674)
(267,259)
(273,933)
(6,674)
(287,084)
{5.998)
(249,851)
(19.825)
Total expenditure
Net {expenditure)lincome
Transfers between funds
(19,825)
(293.758)
{255,849)
(23,804)
10,645
(19,325)
(10,645)
(43,129)
23,594
Net movement in funds
(13,159)
(29,970)
(43.129)
23,594
Reconciliation of funds
Total funds brought forward
1,757,977
903,873
2.661.850
2,638,256
Total funds carrled forward 22
1,744,818
873,903
2,618,721
2,661,850
All of the group's activities derive from continuing operations during the above two periods.
The funds breakdown for 2023 is shown in note 22.
The notes on pages 12 to 29 form an integral part of these financial statements.
Page 7

Atlantic Racquet Centre
(Registration number: 07829589)
Consolidated Balance Sheet as at 31 December 2024
2024
2023
Note
Fixed assets
Tangible assets
15
3,357,104
3,427.157
Current assets
stocks
Debtors
Cash at bank and in hand
2,431
4,687
41,692
3.634
10.137
56,050
18
48,810
69.821
Creditors: Amounts falling due within one year
19
(96,228)
140,800
Net current liabilities
{47.418)
(70.979)
Total assets less current Ilabilities
3,309,686
3,356,178
(694,328)
2,661,850
Credltors: Amounts falllng due after more than one year 20
(690,965)
2,618,721
Net assets
Funds of the group:
Restricted Income funds
Restricted funds
873,903
903.873
Unrestricted income funds
Unrestricted funds
1,744,818
1,757,977
Total funds
22
2,618,721
2,661,850
For the year ending 31 December 2024 the charity was entitled to exemption from audit under section
477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities..
The members have not required the company to obtain an audit of its financial statements for
the year in question in accordance with section 476.,
The directors acknowledge their responsibilities for complying with the requirements of the Act
with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the special provisions relating to
companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The notes on pages 12 to 29 form an integral part of these financial statements.
Page 8

Atlantic Racquet Centre
(Registration number: 07829589)
Consolidated Balance Sheet as at 31 December 2024
The financlal statements on pages 7 to 29 were approved by the trustees, and authorised for issue on
2610912025
and signed on their behalf by:
Anoushka Lynd
Company secretary and trustee
The notes on pages 12 to 29 form an integral part of these financial statements.
Page 9

Atlantic Racquet Centre
(Registration number: 07829589)
Balance Sheet as at 31 December 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
15
3,307,039
3,368,341
3,307,040
3,368.342
Current assets
Debtors
Cash at bank and in hand
17
18
14,496
22,025
16,879
35,069
36,521
51.948
Creditors: Amounts falling due wlthln one year
19
(75,076)
(120,448)
(68,500)
Net current Ilabllities
138,555
Total assets less current liabllStSes
3,268,485
607,231)
2,661,254
3,299,842
(604,195)
2,695,647
Creditors: Amounts falllng due after more than one year 20
Net assets
Funds of the charlty:
Restricted Income funds
Restricted funds
873,903
903,873
Unrestricted income funds
Unrestricted funds
1,787,351
1.791,774
Total funds
22
2,661,254
2.695,647
For the year ending 31 December 2024 the charity was entitled to exemption from audit under section
477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities:
The members have not required the company to obtain an audit of its financial statements for
the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act
with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the special provisions relating to
companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The notes on pages 12 to 29 fom an integral part of these financial statements.
Page 10

Atlantic Racquet Centre
(Registration number: 07829589)
Balance Sheet as at 31 December 2024
The financial statements on pages 7 to 29 were approved by the trustees, and 8Uthorised for issue on
2610W2025
and signed on their behalf by:
Anoushka Lynd
Company secretary and trustee
The notes on pages 12 to 29 form an integral part of these financial statements.
Page11

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
1 Charity status
The charity is limited by guarantee. incorporated In England and Wales, and consequently does not
have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards
the assets of the charity in the event of liquidation.
The address of its registered Offi￿ is:
Atlantic Racquet Centre
Fami Road
Clovelly Road Industrial Estate
Bideford
Devon
EX39 3BE
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accountSng policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all the years presented, unless otherwise
stated.
statement of compllance
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities: Statement of Recommended Practice (applicable to charities preparlng thelr accounts in
accordance with the Financial Reporting Standard applicable in the UK 8nd Republic of Ireland (FRS
102)} (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basls of preparation
Atlantic Racquet Centre meets the definition of a public benefit entlty under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy notes. The financial statements are prepared in sterling which is the
functional currency of the entity.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the charity and its
subsidiaries ARC Centre Limited, company number 09357363 and ARC Solar Limited, company
number 13360598. registered address Atlantic Racquet Centre. Caddsdown Industrial Park, EX39
3DX
No statement of financial activities is presented for the charity as permitted by section 408 of the
Companies Act 2006. The charity made a deficit for the year £34.393 {2023 - surplus of £25,426)
Page 12

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
A subsidiary Is an entity controlled by the charlty. Control is achieved where the charity has the power
to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or dlsposed of durlng the year are included in the statement of
financial activities from the effective date of acquisition or up to the effective date of disposal, as
appropriate. Where necessary, 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 between the charity and
its subsidiaries, which are related parties, are eliminated in full.
Exemption from preparing a cash flow statement
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a
cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the group's ability to continue as
a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by
the group.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income
will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and
settlement date. In the event that a donation is subject to conditions 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 fulfilment of those conditions is wholly
within the control of the charity and it is probable that these conditions will be fulfilled in the reporting
period.
Grants receivable
Grants are recognised when the group has an entitlement to the funds and any conditions linked to
the grants have been met. Where performance conditions are attached to the grant and are yet to be
met. the income is recognised as a liability and included on the balance sheet as deferred income to
be released.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of
the dividend éue.
Page 13

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
Expendlture
All expenditure Is recognised once there Is a legal or constructive obligation to that expenditure, it is
probable settlement is required and the amount can be measured reliably. All 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 resou￿$. with central staff costs allocated on the basis of time spent. and depreciation
charges allocated on the portion of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Raising fiinds
These are costs incurred in attracting voluntary income. the management of investments and those
incurred in trading activities that raise fijnds.
Charitable activities
Charitable expenditure comprises 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 to such activities
and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functlons and have been allocated to activity cost categories on a basis
conslstent with the use of resources, for example, allocating property costs by floor areas, or per
capita, staff costs by the time spent and other costs by their usage.
Taxation
The charity is consldered to pass the tests set out in Pardgraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains
re￿iVed withln categorias covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable G8ins Act 1992, to the extent that such income or gains are
applied exclusrvely to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any
estimated residual value, over their expected useful economic life as follows:
Depreciation method and rate
2 % straight line
50/0 straight line
25.￿ straight line
1 Ooh straight Ilne
Asset class
Land and buildings
Court & Floodlights
Equipment
Clubhouse
Page 14

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
Cash and cash equlvalents
Cash 8nd cash equivalents comprise cash on hand and call deposits, and other short-term highly
liquid investments that are readily convertible to a known amount of cash and are subject to an
insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.
Interest-bearing borrowings 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 Ststement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest
payable and similar charges.
Borrowings are classified as currenl liabilities unless the charity has an unconditional right to defer
settlement of the liability for at least twelve rnonths after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in
furtherance of the objectives of the group.
Designated funds are unrestricted funds eamiarked by the trustees for particular future project or
commltment.
Restricted income funds are those donated for use in a particular area or for specific purposes, the
use of which is restrlcted to that area or purpose.
Pensions and other p05t retlrement obligations
The group operates 8 defined contribution pension scheme which is a pension plan under which 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 sufficient assets to pay all employees the benefits
relating to employee service in the current and prior periods.
Contrtbutions to defined contribution plans are recognised in the Statement of Financial Activities
when they are due. If contribution payments ex￿ed the contribution due for service, the excess is
recognised as a prepayment.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the group becomes a party to the
contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the group after deducting all of its liabilities.
Page 15

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction
costs). except for those financial assets classified as at fair value through profit or loss, which are
initially measured at fair value (which is normally the transaction price excluding transaction costs),
unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing
transaction, the financial asset or financial liability is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only
when there exists a legally enforceable right to set off the recognised amounts and the group intends
either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows
from the financial asset expire or are settled, b) the group transfers to another party substantially all of
the risks and rewards of ownership of the financial asset, or c) the group, despite having retained
some, but not all, significant risks and rewards of ownership, has transferred control of the asset to
another party.
Financial Ilabilities are derecognised only when the obligation specified in the contract is dlscharged.
cancelled or expires.
Investments
Investments in non-convertible preferen￿ shares and non-puttable ordinary or preference shares
(where shares are publicly traded or their fair value is reliably measurable) are measured at fair value
through profit or loss. Where fair value cannot be measured reliably, investments 8re measured at
cost less impairment.
Investments in subsldlarles and associates are measured at cost less impairment. For investments in
subsidiaries acquired for consideration including the issue of shares qualifying for merger rellef, cost
is measured by reference to the nominal value of the shares issued plus fair value of other
consideration. Any premium is ignored.
Derivative financial Instruments
The group uses derivative financial instruments to reduce exposure to foreign exchange risk and
interest rate movements. The group does not hold or issue derivative financial instruments for
speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are
subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is
recognised in statement of financial activff(ies immediately unless the derivative is designated and
effective as a hedging instrument, in which event the timing of the recognition in statement of financial
activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When
quoted prices are unavailable. the price of a recent transaction for an identical asset provides
evidence of fair value as long as there has not been a significant change in economic circumstances
or a significant lapse of time since the transaction took place. If the market is not active and re￿nt
transactions of an identical asset on their own are not a good estimate of fair value, the fair value is
estimated by using a valuation technique.
Page 16

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
3 Income from donatlons and legacles
Unrestricted
funds
General
Restrfcted
funds
Total
2024
Donations
Donatlons
Grants
Grants received
7,369
7.369
2,497
500
2,997
9,866
500
10,366
Unrestrlcted
funds
General
Restricted
funds
Total
2023
Donations
Donations
Grants
Grants received
44,252
44,252
1,550
45,802
12.162
13,712
57,964
12.162
4 Income from other trading activities
Unrestricted
funds
General
Total
2024
Fundraising events
Merchandise income
Food and drink
900
263
10,389
11,552
900
263
10,389
11,552
Unrestricted
funds
General
Restricted
funds
Totsl
2023
Fundraising events
Merchandise income
Food and drink
1,620
661
12,608
40
1.660
661
12,608
14.889
40
14,929
Page 17

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
5 Investment Income
U nrestricted
funds
General
Total
2024
Interest receivable on bank deposits
Unrestricted
funds
General
Total
2023
Interest receivable on bank deposits
69
69
6 Other income
Unrestricted
funds
General
Total
2024
Income from fac111ty hlre
Licence income
Other revenue
187,639
27,000
14,070
187,639
27,000
14,070
228,709
228,709
Unrestricted
funds
General
Total
2023
Income from facility hire
Licen￿ income
Other revenue
156,640
27,000
22.841
156,640
27,000
22.841
206,481
206,481
Page 18

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
7 Expenditure on raising funds
Costs of trading activities
Unrestricted
funds
General
Total
2024
Direct costs
6,674
6,674
Unrestricted
funds
General
Total
2023
Direct costs
5,998
5.998
8 Expenditure on charitable activltles
Unrestrlcted
funds
General
Restricted
funds
Total
2024
Note
Sports & fitness activities
Support costs
246,586
20.673
19,825
266.411
20.673
267,259
19.825
287.084
Unrestrlcted
funds
General
Restricted
funds
Total
2023
Note
Sports & fitness activities
Support costs
206.235
25,447
18,169
224.404
25,447
231.682
18,169
249.851
Page 19

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
9 Analysis of support costs
Support Gosts allocated to charitable activities
Total
2024
Total
2023
Advertising
Bank and card charges
General expenses
Legal and professional
Independent examination fees
Telephone
Interest payable
590
6,814
8.384
1.231
5.544
8,802
3,250
1,650
4.470
500
1,650
2,894
341
20,673
25.447
10 Net incomingloutgoing resources
Net (outgoing)lincoming resources for the year include:
2024
2023
Depreciation of fixed assets
102,480
98,214
11 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the group
during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the
year.
Page 20

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
12 Staff costs
The aggregate payroll costs were as follows:
2024
2023
Staff costs during the year were:
Wages and salaries
Pension costs
27,995
4,976
25,285
7,722
33.007
32,971
The monthly average number of persons (including senior management I leadership team) employed
by the group during the year expressed as full time equivalents was as follows-
2024
No
2023
No
10
Coaching and admin staff
No employee received emoluments of more than £60,000 during the year.
13 Independent examlner's remuneratlon
2024
2023
Examination of the financial statements
1,650
1,650
Page 21

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
14 Taxation
The group is a registered charity and is therefore exempt from taxation.
15 Tangible fixed assets
Group
Furniture
and
equipment Clubhouse
Land and
buildings
Solar
Equipment
Total
Cost
At 1 January 2024
Additions
3.587.051
9.787
80,515
22,640
24,661
80.446 3,772.673
32,427
At 31 December 2024
3,596,838
103,155
24,661
80,446 3,805,100
Depreciation
At 1 January 2024
Charge for the year
246,786
69,437
53,707
22,597
20,825
2,465
24.134
8,045
345,452
102.544
At 31 December 2024
316,223
76,304
23,290
32,179
447.996
Net book value
At 31 December 2024
3,280,615
26,851
1,371
48,267 3.357,104
At 31 December 2023
3,340,265
26,808
3,836
56,312 3,427,221
Page 22

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
Charlty
Furniture
and
equipment
Land and
buildings
Clubhouse
Total
Cost
At 1 January 2024
Additions
3,587.051
9.787
75,110
21,910
24,661 3.686,822
31.697
At 31 December 2024
3,596.838
97,020
24,661 3.718.519
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
246.786
69.437
50.806
21,161
20.825
2,465
318,417
93.063
316,223
71,967
23,290
411,480
Net book value
At 31 December 2024
3.280,615
25,053
1,371 3.307.039
At 31 December 2023
3,340,265
24,304
3,836 3.368,405
16 Fixed asset investments
Charity
Shares in group undertakings and participating interests
Subsidiary
undertakings
Cost
At 1 January 2024
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
Page 23

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
17 Debtors
Group
2024
Charlty
2024
2023
2023
Trade debtors
Due from group undertakings
Prepayments
VAT recoverable
2,909
7,485
12,377
1,778
341
13,000
2.652
1,227
1,778
2,652
4.687
10,137
14.496
16,879
18 Cash and cash equivalents
Group
2024
Charlty
2024
2023
2023
Cash at bank
41,692
56,050
22,025
35,069
19 Credltors: amounts falllng due within one year
Group
2024
Charlty
2024
2023
2023
Bank loans
Trade creditors
Other loans
other taxation and social
security
Accruals
6,400
2,123
71,005
6.400
10.210
111,645
2,123
71,005
6,755
111.645
7,192
9.508
4,997
7,548
1,948
75,076
2,048
120,448
96,228
140,800
20 Creditors: amounts falling due after one year
Group
2024
Charity
2024
2023
2023
Other loans
690.965
694,328
607,231
604.195
Page 24

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
21 Contingent liabilities
Charity
If Atlantic Racquet Centre fails to complete the build of the Centre the grants received from Sport
England totalling £485,000 will be repayable on demand.
22 Funds
Group
Balance at
31
December
2024
Balance at
1 January
2024
Incomlng Resources
resources
expended
Transfers
Unrestricted funds
General
General Funds
1,757,977
250.129
(273.933)
10.645
1,744,818
Restricted funds
Phase 1 and 2
Changing places
Wheelchair tennis
Equipment Fund
890.380
1.331
(17,808)
872,572
1,331
500
(500)
(1,517}
(19,825)
12,162
(10,645)
(10,645)
903.873
500
873,903
Total funds
2,661.850
250.629
293,758)
2,618.721
Page 25

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
Balance at 1
January
2023
Balance at
31 December
2023
Incoming
resources
Resources
expended
Unrestricted funds
General
General Funds
1.728,416
267.241
(237,680)
1.757.977
Restricted funds
Phase 1 and 2
Changing places
Equipment Fund
908,509
1,331
40
(18,169)
890.380
1.331
12.162
12,162
909,840
12,202
118,169)
903.873
Total funds
2,638.256
279,443
(255,849)
2.661,850
Page 26

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
Charlty
Balance at
31
December
2024
Balance at
1 January
2024
Incoming Resources
sources
expended
Transfers
Unrestricted funds
General
General Funds
1,791.774
88.471
(105,056)
1.775,189
Restricted funds
Phase 1 and 2
Changing pla￿S
Wheelchair tennls
Equipment Fund
890.380
1.331
(17,808)
872,572
1,331
500
(500)
12,162
(12,162)
(12,162)
903,873
500
(18,308)
873.903
Total funds
2,695.647
88,971
1123,364)
(12.162
2.649,092
Balance at 1
January
2023
Balance at
31 December
2023
Incoming
resources
Resources
expended
Unrestricted funds
General
General Funds
1,760.381
127,591
(96,198)
1,791.774
Restrlcted funds
Phase 1 and 2
Changing places
Equiptnent Fund
908,509
1.331
40
(18,169)
890,380
1,331
12,162
12,162
909,840
12.202
(18.169)
903.873
Total funds
2.670,221
139,793
114,367)
2,695,647
Page 27

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
The phase 18nd 2 fund balance represents grant income recelved in respect of phases 1 and 2 of the
project.
Changing places funding has been received towards disabled facilities.
Defibrillator- money raised to enable ARC to have a defibrillator onsite. This has been completed with
surplus money being raised to enable ongoing maintenance costs.
Equipment fund - funding received towards badminton equipment and to support badminton activities.
Wheelchair tennis - during the year £500 was re￿IVed towards wheelchair tennis equipment.
During the year grants and donations received towards the purchase of fixed assets have been
released to unrestricted reseNes when the restriction on the funds has been released by the
purchase of the assets.
23 Analysis of net assets between funds
Group
Total funds
at31
December
2024
Unrestricted
funds
General
Restrlcted
funds
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
2,484.532
47.479
(96,228)
(690,965)
1,744,818
872,572
1,331
3,357,104
48.810
(96,228)
(690.965)
2.618,721
Total net assets
873,903
Total funds
at31
December
2023
Unrestricted
funds
General
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
2.524.615
69,717
(142,027)
(694,328)
902,542
1,331
3,427,157
71.048
(142,027)
(694,328)
2.661,850
Total net assets
1.757,977
903,873
Page 28

Atlantic Racquet Centre
Notes to the Financial Statements for the Year Ended 31 December 2024
Charlty
Total funds
at31
December
2024
Unrestricted
funds
General
Restricted
funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
2.434,467
872,572
3.307.039
35,190
(75,076)
(607.231)
1.787.351
1,331
36.521
(75.076)
(607,231)
2,661,254
Total net assets
873.903
Total funds
at31
December
2023
Unrestricted
funds
General
Restricted
funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
2,465,799
902,542
3,368.341
50,617
(120,448)
(604,195)
1,791,774
1,331
51,948
(120.448)
1604,195)
2.695,647
Total net assets
903,873
24 Related party transactlons
Group
During the year, the wife of David Vinall, a Trustee was self-employed by ARC Centre Limited and
was paid £16.668 (2023: £9.387).
Charity
There were no related party transactions in the year.
Page 29