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2021-09-30-accounts

Company registration number: 09197041 Charity registration number: 1159339

Holmfirth and District Bowling Club

(A company limited by share capital) Annual Report and Financial Statements for the Year Ended 30 September 2021

V&A Vigar Group Ltd Chartered Accountants and Chartered Tax Advisers Stoneygate House 2 Greenfield Road Holmfirth HD9 2JT

Holmfirth and District Bowling Club

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 4
Independent Examiner's Report 5 to 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 20

Holmfirth and District Bowling Club

Reference and Administrative Details

Mrs P Whiteley

Secretary Mrs P Charity Registration Number 1159339 Company Registration Number 09197041

The charity is incorporated in England & Wales. Registered Office Bridge Fold Bridge Lane Holmfirth HD9 7AN Principal Office Bridge Fold Bridge Lane Holmfirth HD9 7AN Independent Examiner V&A Vigar Group Ltd Chartered Accountants and Chartered Tax Advisers Stoneygate House 2 Greenfield Road Holmfirth HD9 2JT

Page 1

Holmfirth and District Bowling Club

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 30 September 2021.

Objectives and activities

The company operates a community membership bowling club in Holmfirth.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Mr A Butterfield Mr J R Chilton Mr G Rollinson Mr D Rudd Miss Dawn Whiteley Mr Peter Howard Livsey Mr Stephen Marcus Taylor

Secretary:

Mrs P Whiteley

Structure, governance and management Financial instruments

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Page 2

Holmfirth and District Bowling Club

Trustees' Report

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments.

The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Holmfirth and District Bowling Club for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

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 charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

Holmfirth and District Bowling Club

Trustees' Report

The annual report was approved by the trustees of the charity on 25 February 2022 and signed on its behalf by:

......................................... Miss Dawn Whiteley Trustee

Page 4

Holmfirth and District Bowling Club

Independent Examiner's Report to the trustees of Holmfirth and District Bowling Club ("the Company")

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2021.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of Holmfirth and District Bowling Club 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 charity’s 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

I have completed my examination. I confirm 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 Holmfirth and District Bowling Club 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 requirements of section 396 of the 2006 Act 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; 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 charities [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.

Page 5

Holmfirth and District Bowling Club

Independent Examiner's Report to the trustees of Holmfirth and District Bowling Club ("the Company")

......................................

V&A Vigar Group Ltd Chartered Accountants and Chartered Tax Advisers

Stoneygate House 2 Greenfield Road Holmfirth HD9 2JT

25 February 2022

Page 6

Holmfirth and District Bowling Club

Statement of Financial Activities for the Year Ended 30 September 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Charitable activities
3
Total Income
Expenditure on:
Raising funds
4
Total Expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
11
Unrestricted
£
35,337
35,337
(10,057)
(10,057)
25,280
25,280
51,252
76,532
Total
2021
£
35,337
35,337
(10,057)
(10,057)
25,280
25,280
51,252
76,532
Total
2020
£
29,148
29,148
(8,376)
(8,376)
20,772
20,772
30,480
51,252

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 11.

The notes on pages 9 to 20 form an integral part of these financial statements. Page 7

Holmfirth and District Bowling Club

(Registration number: 09197041) Balance Sheet as at 30 September 2021

Note
Fixed assets
Tangible assets
7
Current assets
Debtors
8
Cash at bank and in hand
9
Creditors: Amounts falling due within one year
10
Net current assets
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
11
2021
£
45,046
161
31,575
31,736
(250)
31,486
76,532
76,532
76,532
2020
£
41,897
154
10,440
10,594
(1,239)
9,355
51,252
51,252
51,252

For the financial year ending 30 September 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 7 to 20 were approved by the trustees, and authorised for issue on 25 February 2022 and signed on their behalf by:

The notes on pages 9 to 20 form an integral part of these financial statements. Page 8

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

1 Charity status

The charity is limited by share capital, incorporated in England & Wales.

The address of its registered office is: Bridge Fold Bridge Lane Holmfirth HD9 7AN

The principal place of business is: Bridge Fold Bridge Lane Holmfirth HD9 7AN

These financial statements were authorised for issue by the trustees on 25 February 2022.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting 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 compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (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.

Basis of preparation

Holmfirth and District Bowling Club meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Page 9

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

Expenditure

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 resources, 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.

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Taxation

The charity is considered to pass the tests set out in Paragraph 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 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 exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 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:

Asset class Depreciation method and rate Plant & machinery 20% straight line Freehold land & buildings 4% straight line

Page 10

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 Statement 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 current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Page 11

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);

2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Financial instruments

Financial assets and financial liabilities are recognised when the charity 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 charity after deducting all of its liabilities.

Page 12

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

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 charity 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 charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 13

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Page 14

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

Investments in non-convertible preference 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 are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity 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 activities 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.

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 recent 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 15

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

3 Income from charitable activities

Bowling club
Total for 2021
Total for 2020
Unrestricted
funds
General
£
35,337
35,337
29,148
Total
funds
£
35,337
35,337
29,148

4 Expenditure on raising funds

a) Costs of trading activities

Note
Fundraising trading costs;
Fundraising
Costs of goods sold
Depreciation, amortisation and other similar costs
Other direct costs of activities for generating funds
Total for 2021
Total for 2020
Unrestricted
funds
General
£
4,851
1,689
3,249
268
10,057
8,376
Total
funds
£
4,851
1,689
3,249
268
10,057
8,376

Page 16

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

5 Net incoming/outgoing resources
Net incoming resources for the year include:
Depreciation of fixed assets
2021
£
3,249
Total
costs
£
2020
£
2,926

6 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 17

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

7 Tangible fixed assets

Cost
At 1 October 2020
Additions
At 30 September 2021
Depreciation
At 1 October 2020
Charge for the year
At 30 September 2021
Net book value
At 30 September 2021
At 30 September 2020
8 Debtors
Prepayments
9 Cash and cash equivalents
Cash on hand
Cash at bank
Land and
buildings
£
24,507
1,370
25,877
1,071
1,027
2,098
23,779
23,436
Furniture
and
equipment
£
9,733
5,027
Other
tangible
fixed asset
£
13,000
-
Total
£
47,240
6,397
53,637
5,343
3,248
8,591
45,046
41,897
2020
£
154
14,760 13,000
4,272
2,221
-
-
6,493 -
8,267 13,000
5,461 13,000
2021
£
161
2021
£
434
31,141
31,575
2020
£
128
10,312
10,440

10 Creditors: amounts falling due within one year

Page 18

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

Trade creditors
Accruals
2021
£
-
250
250
2020
£
1,239
-
1,239

Page 19

Holmfirth and District Bowling Club

Notes to the Financial Statements for the Year Ended 30 September 2021

11 Funds

11 Funds
Unrestricted funds
General
Unrestricted funds
General
Balance at 1
October
2020
£
51,252
Balance at 1
October
2019
£
30,480
Incoming
resources
£
35,337
Incoming
resources
£
29,148
Resources
expended
£
(10,057)
Resources
expended
£
(8,376)
Balance at
30
September
2021
£
76,532
Balance at
30
September
2020
£
51,252

12 Analysis of net assets between funds

Tangible fixed assets
Current assets
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Unrestricted
funds
General
£
45,046
31,736
76,782
Unrestricted
funds
General
£
41,897
10,594
(1,239)
51,252
Total funds
at 30
September
2021
£
45,046
31,736
76,782
Total funds
at 30
September
2020
£
41,897
10,594
(1,239)
51,252

Page 20

Holmfirth and District Bowling Club

Detailed Statement of Financial Activities for the Year Ended 30 September 2021

Income and Endowments from:
Charitable activities (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Total
2021
£
35,337
35,337
(10,057)
(10,057)
25,280
25,280
51,252
76,532
Total
2020
£
29,148
29,148
(8,376)
(8,376)
20,772
20,772
30,480
51,252

This page does not form part of the statutory financial statements. Page 21

Holmfirth and District Bowling Club

Detailed Statement of Financial Activities for the Year Ended 30 September 2021

Committed giving
Subscriptions
Sales of donated goods
Social lotteries
Grant income
Rental income
Other income
Purchases
Direct costs
Plant repairs
Rates
Light, heat and power
Insurance
Repairs and renewals
Printing, postage and stationery
Trade subscriptions
Sundry expenses
Cleaning
Legal and professional fees
Depreciation of freehold property
Depreciation of plant and machinery
Total
2021
£
398
1,805
-
1,120
29,620
217
2,177
35,337
(845)
(844)
(268)
(129)
(244)
(421)
(3,662)
(29)
(247)
-
(113)
(6)
(1,027)
(2,222)
(10,057)
Total
2020
£
317
1,776
84
761
26,000
-
210
29,148
(69)
(570)
(309)
(464)
(387)
(414)
(2,865)
(19)
(206)
(147)
-
-
(980)
(1,946)
(8,376)

This page does not form part of the statutory financial statements. Page 22