2024-12-31-accounts

Charity number: 1159209 SHERINGHAM AND DISTRICT SPORTS ASSOCIATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION CONTENTS Page Reference and administrative detsils of the ¢harity, its Irustees and advisers Trustees. report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 9-16

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Mr Charles Sanders, Chairman Mrs Trish McLaren, Treasurer Mr Paul Brian Middleton Mr Christopher James Moy Charity registered number 1159209 Principal office Weybourne Road, Sheringham, Norfolk, NR26 8WD Accountants Larking Gowen LLP, 80 Grove Lane, Holt, Norfolk, NR25 6ED Page 1

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Truslees present their annual report together with the financial ststements for the year ended 31 December 2024. The Trustees confirm that the Annual Report and financial statements of the charily comply with the current statutory requirements, the requirement of the chartiy's govering document and the provisions of the Statement of Recommended Pratice (SORP) FRS102. Stru¢ture, governance and management . CONSTITUTION The Sheringham and District Sports Association became a re9lStered charity on 14 November 2014. Prior to this date a seperate not for profit organisation carried out the same activities. On 14 November 2014 all assets, liabilities and operations were transfered to the charity for £nil consideration and from there on the 8¢titivites have been undertaken by the charity. The registered charity number is 1159209. b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the charity is the responsibility of the Truslees who are elected and co-opted under the terms of the Trust deed. c. ORGANISATIONAL STRUCTURE AND DECISION MAKING The Trustees regularly review the risks to which the company may be exposed and can confirm that systems are in place to mitigate those risks. The principal risk is financial although there is a furth8r risk associated with the reputation of Sheringh8m & District Sports Association. It is essential to maintain the latter if fundraising is to be successful. Objectlves and Actlvltles . POLICIES, OBJECTIVES AND PUBLIC BENEFIT Sheringham & District Sports Association has the following objectives.. To promote for the benefit of the inhabitants of Sheringham and District the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic Gircumslances or for Ihe public at large in the interests of social welfare and wth the objective of improving the conditions of life of the said inhabitants. Achievements and performance a. GOING CONCERN After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concem basis in p￿parIng the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Page 2

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION TRUSTEES. REPORT (¢onlinued) FOR THE YEAR ENDED 31 DECEMBER 2024 b. REVIEW OF ACTIVITIES Sheringham & District Sports Association is solely involved in the provision of sports facilities for thecommunity of Sheringham and its immediate district. The charity is non-profit making and every penny eamed is reinvested into either the upkeep of both the grass areas for primarily football and cricket. or for the creation of a sinking fund for replacement of the Multi use games area when the time Comes. The facility is also the recreation ground for the town and surrounding area. The clubhouse and changing rooms also have to be maintained and cleaned etc to provide users with changing facilities and toilets and a social area to entertain opponents and spectstors etc. In prior years, the association has successfully raised sufficient funds to provide a new £150,000 multi usegames area and new disabled aGGess ramps and railings costing over £70,000 to the clubhouse to make itfully inclusive as well as providing two open fully accessible verandas for viewing matches. Currently we have over 200 young people and well over 100 adults regularly playing sport on our site and we hope to Gontinually improve the facilities to attract even greater use. The association also provides additional indoor facilities for the local community with activities such as dance, fitness, and for community interest groups. Flnanclal review a. RESERVES POLICY The Trustees continue to monitor the level of reserves on a regular basis. At the period end the reserves totalled £128,888 12023 £139,148) which is made up of unrestricted funds of £27,946 (2023 £18,357), and restricted funds of £100,942 12023 £120,791). Free reserves, being unrestricted funds not represented by fixed assets, amount to £21,758 {2023 £11,072>. There is no target level of reserves. Plans for future perlods a. FUTURE DEVELOPMENTS In the next year we will be concentrating on continued rna1ntenan￿ of all the facilities and continuing to build funds for the eventual replacement of the multi use games area carpet when it is time expired. We wtll also be continuing the ongoing general maintenance of clubhouse and grounds to ensure long life and good playing surfatss for the future. With over 200 young people and 100 plus adults regularly playing sport on the site, we hope lo be able to continually improve the facilities to attract even greater use and additional sports. We are also pleased to have attracted a new walking football group to the facility and will look to encourage even greater and more diverse use of the facilities going forward. The association has long term ambitions to improve the clubhouse to enable it to be a rn0￿ diverse and inclusive facility increasing the range of activities, as well as making the premises more energy efficient and environmentally sustainable and a useful community social facility. DISTRIBUTION OF INCOME AND ASSETS The income and property of Sheringham & District Sports Association shall be applied solely towards the promotion of its objects. None of the income and property of Sheringham & District Sports Association may be distributed lo its members. Page 3

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES. RESPONSIBILITIES STATEMENT The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance w¢th appliGable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements. the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent; prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity wll continue in operation. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose wth reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the twsl deed. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Mrc Page 4

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHERINGHAM AND DISTRICT SPORTS ASSOCIATION (the 'charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2024.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts 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 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Actand in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

2. the accounts do not accord with those records; or

3. the accounts 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.

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SHERINGHAM AND DISTRICT SPORTS ASSOCIATION

INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

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.

Signed: Dated: 19 August 2025

Christopher Yeates FCA DChA

Larking Gowen LLP, 80 Grove Lane, Holt, Norfolk, NR25 6ED

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SHERINGHAM AND DISTRICT SPORTS ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note INCOME FROM: Charitable activities 30,993 30,993 74.777 TOTAL INCOME 30,993 30,993 74,777 EXPENDITURE ON: Charitable activities 21,404 19,849 41,253 97,767 TOTAL EXPENDITURE 21,404 19,849 41,253 97.767 NET INCOME I (EXPENDITURE) BEFORE TRANSFERS NET MOVEMENT IN FUNDS 9,589 9,589 (19,849) (19,849) (10,260) (10,260) (22, 990) (22, 990) RECONCILIATION OF FUNDS: Total funds brought forward 18,357 120,791 139,148 162. 138 27,946 100,942 128,888 139, 148 TOTAL FUNDS CARRIED FORWARD The notes on pages 9 to 16 form part of these financial statements. Page 7

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note FIXED ASSETS Tangible assets Investments 104,112 125,057 104,114 125, 059 CURRENT ASSETS Debtors Cash at bank and in hand 1,082 24,279 870 13,598 25,361 74,468 CREDITORS: amounts falling due within one year ($87) (379) NET CURRENT ASSETS 24,774 14,089 NET ASSETS 128,888 139. 148 CHARITY FUNDS Restricted funds Unrestricted funds 100,942 27,946 120,791 18.357 TOTAL FUNDS 128,888 139, 148 The financial statements were approved by the Trustees on and signed on their behalf, by.. The notes on pages 9 to 16 form part of these financial statements. Page 8

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES 1.1 Basis of preparation of financial statements The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities {A¢counts and Reports) Regulations 2008 only to the extent required to provide a 'true and fail view. This departure has involved following the Charities SORP {FRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 ￿1¢h has since been withdrawn. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance wilh the Statement of Recommended Practi￿.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011. Sheringham and District Sports Association constitutes a public benefit entity as defined by FRS 102. 1.2 Income 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 income receivable can be measured reliably. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tsx recoverable in relation to investment income is recognised at the time the investment income is receivable. 1.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. it is probable that a transfer of economic benefits wll be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the Gharity apportioned to charitable activities. Page 9

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (CONTINUED) 1.4 Tangible fixed assets and depreciation All assets costing more than £100 are capitslised. A review for impaimient of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls be￿een the Carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the followng bases- L￿erM Leasehold Propety Fixtures & fittings 15 years Straight line 15 /¢ Reducing balance 1.5 Investments Fixed asset investments are a form of financial instwment and are initially recognised at their transaction cost and subsequently rneasu￿d at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or Un￿alISed, are combined and shown in the heading 'Gainsl(lossesl on investments. in the Statement of financial activities. This fixed asset investment figure is made up of the share capital that the charity has as the main subscriber to the associated company, Sheringham Sports and Social Club Ltd. 1.6 Interest receivable Inlerest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity. this is normally upon notification of the interest paid or payable by the Bank. 1.7 Debtors Trade and olher debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.8 Cash at Bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments wth a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 10

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (CONTINUED) 1.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event. it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it wll pay to settle the debt or the amount it has received as advanced payments for the goods or servi￿$ it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwnding of the discount is recognised within interest payable and similar charges. 1.10 Flnancial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic f inancial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value wth the exception of bank loans ￿lch are subsequently measured at amortised cosl using the effective interest method. 1.11 Fund accounting General funds are unrestricted funds which are available for use at the dis¢￿tIOn of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance wth specific restrictions imposed by donors or ￿1¢h have been raised by the charily for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financial statements. INCOME Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Ground rent from user groups Ground hire to external parties Donations and grants received Bank interest Insurance claim 14.950 11,028 4,752 263 14.950 11,028 4,752 263 7,870 4, 830 47,286 197 14.594 30,993 30.993 74. 777 Total 2023 30, 777 44, 000 74, 777 Page11

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CHARITABLE ACTIVITIES Total 2024 Total 2023 Ground maintenance Insurance Rent and rates Lighl and heat Cleaning Repairs and maintenance Sundry expenses Donations Depreciation Bank Charges 6,324 4,114 812 4,609 1,924 1,164 1,284 12,403 3.398 1.458 6,487 1,741 17,575 709 32,000 21,914 82 20,944 78 41,253 97.767 Tot812023 97, 767 The above expenditure is split £21,404 unrestricted funds and £19,849 restricted funds. In 2023 the split was £45,138 unrestricted funds and £52,629 restricted funds. NET INCOMEI(EXPENDITURE) This Is stated after charging: 2024 2023 Depreciation of tangible fixed assets: - owned by the charity 20,944 21,914 During the year, no Trustees received any remuneration {2023- £NIL). During the year, no Trustees received any benefits in kind {2023 - £NIL). During the year, no Trustees received any reimbursement of expenses (2023 - £NIL). Key management personnel remuneration for the year was £NIL (2023 - £NIL ). There were no related party transactions in either current or prior period. Page 12

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 TANGIBLE FIXED ASSETS Lrrerm Leasehold Property Fixtures & fittings Total Cost At 1 January 2024 and 31 December 2024 231,730 107,859 339,589 Depreclatlon At 1 January 2024 Charge for the year 143,311 15,449 71,221 5,496 214,532 20,945 At 31 December 2024 158,760 76,717 235,477 Net book value At 31 December 2024 72,970 31,142 104,112 At 31 December 2023 88,419 36, 638 125,057 FIXED ASSET INVESTMENTS Shares in group undertakings Cost At 1 January 2024 and 31 December 2024 Subsidiary undertakings The followng were subsidiary undertakings of the company: 2024 Profit 2024 Net assets Name Holding 100% Sheringham Sports and Social Club Ltd 4,532 4,311 Name Sheringham Sports and Social Club Ltd Business Operating a bar Registered office 80 Grove Lane, Holt, Norfolk, United Kingdom, NR25 6ED Page 13

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 DEBTORS 2024 2023 Prepayments and accrued income 1,082 870 CREDITORS: Amounts falling due wlthln one year 2024 2023 Accruals and deferred income 587 379 Page 14

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 31 December 2024 Balanee al 1 January 2024 Income Expenditure Unrestricted funds General Funds 18,357 30,993 (21,404) 27,946 Restrlcted funds Restricted Funds 120,791 (19,849) 100,942 Total of funds 139,148 30,993 (41,253) 128,888 The restricted fund represents the net book value of the charity's property of £72,973 floodlights purchased with restricted funds of £24,953 and an amount left over from donations for floodlights amounting to £3,016. STATEMENT OF FUNDS- PRIOR YEAR Balance at 37 December 2023 Balance at 1 January 2023 Income Expenditure General Funds 32,718 30, 777 (45, 138) 18,357 Restricted funds Restricted Funds 129,420 44,000 (52.629) 120, 791 Total of funds 162,138 74, 777 (97,767) 139, 148 Page 15

SHERINGHAM AND DISTRICT SPORTS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 6,186 97.926 104,112 22,345 1587) 3,016 25,361 1587) 27,946 100,942 128,888 ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 7, 283 117,775 125, 058 11.451 (379) 3,016 14,467 (379) 18,357 120, 791 139, 148 Page 16