REGISTERED COMPANY NUMBER: 09142406 (England and Wales) REGISTERED CHARITY NUMBER: 1159772
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
HITCHIN RUGBY LIMITED
HITCHIN RUGBY LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 18 |
HITCHIN RUGBY LIMITED (REGISTERED NUMBER: 09142406)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The promotion of community participation in healthy recreation in particular by the provision of facilities for the playing of rugby union primarily but without limitation for the benefit for the local communities of Hitchin, Stevenange and Letchworth.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
Staff and Volunteers
The trustees fully appreciate the importance of volunteers to the efficient working of the charity.
ACHIEVEMENT AND PERFORMANCE
Our primary goal as trustees for the 2021-22 season was to facilitate a full return to rugby at all levels after the disruption of the Covid pandemic .In terms of senior rugby, we improved the standard of the Men's coaching and supported the promotion of both the women's sides through a similar level of coaching .A substantial investment was made in new gymnasium equipment .Results on the field reflected this support, with the Men's 1 XV gaining promotion and the Women's 1 XV finishing mid table in Championship 2. The buoyant Mini & Youth section continued their good work, with a strong emphasis on the Girls 'age groups.
Once again we must thank our sponsors for their continued financial support. In April 2021 we received the "Sport England Grant" of £50,000 from the RFU Winter Survival Fund, to cover expenditure in the 6 months to 31 March 2021. This was a welcome addition to the club's funds at a difficult time.
Income and expenditure
The results for the year show an overall surplus of £49,147 (2021 surplus £10,472).
FINANCIAL REVIEW
Financial overview
As an overview, the charity received £312,084 (2021 £152,405) of income during the year and had outgoings totalling £262,937 (2021 £142,104) giving a surplus of £49,147 (2021 surplus £10,472). The funds carried forward are £235,853 (2021 £219,395) of unrestricted reserves and £418,762 (2021 £386,073) of restricted reserves.
Reserves policy
The charity's income, expenditure and funds for the year to 31 March 2022 are shown in the annexed financial statements. The basis of preparation of the annexed financial statements is in accordance with the governing documents and is set out in the notes.
FUTURE PLANS
We aim to improve recruitment of senior players, both through the pathway from the Mini & Youth section and from the local community. Work is in hand to improve our social media footprint as a recruitment tool.
Off the field, we will be searching for increased revenues from sponsorship, donations and fund raising. This we will use to offset the considerable increase in costs that will affect us in the coming months/years.
The charity faces a challenging time with increased pressure on playing resources because of success and infrastructure due to the deterioration of the older ex council pavilion buildings. Resolving these issues will require considerable funds that are not at present available to the charity.
Page 1
HITCHIN RUGBY LIMITED (REGISTERED NUMBER: 09142406)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Hitchin Rugby Limited, a company limited by guarantee as defined by the Companies Act 2006, was incorporated on 22 July 2014 and registered as a charity on 5 January 2015. Hitchin Rugby Limited was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member to the charity.
Recruitment and appointment of new trustees
As set out in the Articles of Association membership is open to individuals or organisations who may apply to the directors for approval.
Organisational structure
The board of trustees is responsible for the management of the charity and the day-to-day running of the charity is delegated to the management committee..
Related parties
The charity owns 100% of Hitchin RFC Trading Limited (Company no. 08850399). The purpose of this company is to carry out the trading activities on behalf of the charity. The charity is also responsible for the day-to-day running and management of this company.
Risk management
Trustees have a duty to identify and review the risks to which the charity may be exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
09142406 (England and Wales)
Registered Charity number
1159772
Registered office
Croft Chambers 11 Bancroft Hitchin Herts SG5 1JQ
Trustees
C D Jones P E Tasko M S Emmerson (resigned 4.9.21) C J Henshaw-Allcock Director (appointed 31.8.21)
Independent Examiner
Bradshaw Johnson Chartered Accountants Croft Chambers 11 Bancroft Hitchin Hertfordshire SG5 1JQ
Approved by order of the board of trustees on 27 June 2022 and signed on its behalf by:
Page 2
HITCHIN RUGBY LIMITED (REGISTERED NUMBER: 09142406)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
P E Tasko - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HITCHIN RUGBY LIMITED
Independent examiner's report to the trustees of Hitchin Rugby Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
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 the Company 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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCA which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
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
-
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.
Neil C Harding FCA Bradshaw Johnson Chartered Accountants Croft Chambers 11 Bancroft Hitchin Hertfordshire SG5 1JQ
29 July 2022
Page 4
HITCHIN RUGBY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 36,305 Charitable activities Hitchin Rugby 157,758 Other trading activities 4 58,295 Investment income 5 25 Other income 7 4,201 Total 256,584 EXPENDITURE ON Charitable activities 8 Hitchin Rugby 240,126 NET INCOME 16,458 RECONCILIATION OF FUNDS Total funds brought forward 219,395 TOTAL FUNDS CARRIED FORWARD 235,853 |
Restricted funds £ - 55,500 - - - 55,500 22,811 32,689 386,073 418,762 |
31.3.22 Total funds £ 36,305 213,258 58,295 25 4,201 312,084 262,937 49,147 605,468 654,615 |
31.3.21 Total funds £ 10,570 63,641 42,809 37 35,519 |
|---|---|---|---|
| 152,576 | |||
| 142,104 | |||
| 10,472 594,996 |
|||
| 605,468 |
The notes form part of these financial statements
Page 5
HITCHIN RUGBY LIMITED (REGISTERED NUMBER: 09142406)
STATEMENT OF FINANCIAL POSITION
31 MARCH 2022
| Notes FIXED ASSETS Tangible assets 15 Investments 16 CURRENT ASSETS Debtors 17 Cash at bank CREDITORS Amounts falling due within one year 18 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 19 NET ASSETS FUNDS 21 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 173,241 1 173,242 74,184 100,732 174,916 (74,805) 100,111 273,353 (37,500) 235,853 |
Restricted funds £ 285,467 - 285,467 - 133,295 133,295 - 133,295 418,762 - 418,762 |
31.3.22 Total funds £ 458,708 1 458,709 74,184 234,027 308,211 (74,805) 233,406 692,115 (37,500) 654,615 235,853 418,762 654,615 |
31.3.21 Total funds £ 494,902 1 494,903 41,516 200,132 241,648 (83,583) 158,065 652,968 (47,500) 605,468 219,395 386,073 605,468 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
HITCHIN RUGBY LIMITED (REGISTERED NUMBER: 09142406)
STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27 June 2022 and were signed on its behalf by:
P E Tasko - Trustee
The notes form part of these financial statements
Page 7
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. STATEMENT OF COMPLIANCE
Hitchin Rugby Limited is a charitable company incorporated in England. The registered office is: Croft Chambers, 11 Bancroft, Hitchin, Hertfordshire SG5 1JQ
The charitable company's financial statements have been prepared in compliance with Charities SORP (FRS 102) as it applies to the financial statements for the year ended 31 March 2022.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Hitchin Rugby Limited meets the definition of a public benefit entity under FRS 102.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over useful life and over length of lease Plant and machinery - 20% on reducing balance Fixtures and fittings - 10% on reducing balance Catering and bar equipment - 20% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Investments
Investments in subsidiaries are valued at cost less provisions for impairment.
continued...
Page 8
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
2. ACCOUNTING POLICIES - continued
Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items,
Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the group qualifies as a small group.
Value Added Tax
The charity is partially exempt from VAT and is within the de minimus limit.
Legal status of the Trust
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £1 per member of the charity.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial instruments
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
3. DONATIONS AND LEGACIES
4.
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Donations | 36,305 | 10,570 |
| OTHER TRADING ACTIVITIES | ||
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Beer festival | 2,789 | - |
| Playing subs | 14,424 | 10,047 |
| Sponsorships including dinners lunches, ball etc | 35,437 | 32,443 |
| Hire of clubhouse | 3,603 | 279 |
| Other | 2,042 | 40 |
| 58,295 | 42,809 |
continued...
Page 9
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
5. INVESTMENT INCOME
| Deposit account interest 6. INCOME FROM CHARITABLE ACTIVITIES Activity Mini & Junior Pavilion Hire Football Hire Pitch Hire Match fees Saracens camp Saracens RFC Tour U 15's Tour U 14's Tour U 17's Tour U 16's Tour U 13's Tour U 18's M & Y Tour Girls Tour M&Y Festival bank a/c Founders' Day Open Day 2nd Hand Kit Stall Easy Fund Raising Touch Rugby World Cup Breakfasts Grant & Appeals M&Y Sponsorship Autumn internationals Cat A Six Nations 7. OTHER INCOME Bungalow Rent Covid grants |
31.3.22 £ 25 |
31.3.22 £ 25 |
31.3.22 £ 25 |
31.3.21 £ 37 |
|
|---|---|---|---|---|---|
| 31.03.22 | 31.03.21 | ||||
| £ | £ | ||||
| 28,482 | 23,245 | ||||
| 6,070 | 5,425 | ||||
| 2,395 | 960 | ||||
| 6,621 | 3,874 | ||||
| 5,794 | 2,672 | ||||
| - | - | ||||
| - | - | ||||
| 5,015 | - | ||||
| - | 6,191 | ||||
| 169 | - | ||||
| - | 3,189 | ||||
| - | - | ||||
| - | - | ||||
| 20,431 | 9,619 | ||||
| 33,643 | 8,032 | ||||
| 324 | - | ||||
| 117 | - | ||||
| 65 | - | ||||
| 1,600 | 250 | ||||
| 24 | |||||
| 183 | 160 | ||||
| - | - | ||||
| 90,592 | - | ||||
| 11,500 | - | ||||
| 129 | - | ||||
| 128 | - | ||||
| 213,258 | 63,641 | ||||
| 31.03.21 £ - 35,519 35,519 |
|||||
| 31.03.22 | |||||
| £ | |||||
| 1,534 | |||||
| 2,667 | |||||
| 4,201 | |||||
continued...
Page 10
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
8. CHARITABLE ACTIVITIES COSTS
| Hitchin Rugby 9. DIRECT COSTS OF CHARITABLE ACTIVITIES Kit and playing equipment Catering Pitch Hire Transport Referees' Expenses Players` Expenses Coaching Laundry Physio Entry fees Coaching and training expenses Maintenance - Pitch Course fees Ladies budget Physio, first aid and consumables Awards and trophies Saracens live games Tour U 15's Tour U 14's Tour U 17's Tour U 16's Tour U 13's Tour U 18's M & Y Tour Girls Tour RFU Insurance Stash Account Maintenance - Floodlights TV Costs Maintenance -Gymnasium M & Y Pathway Misc. costs Girls - Development Advertising Incentive payments (men) |
Direct Costs (see note 9) £ 147,689 |
Direct Costs (see note 9) £ 147,689 |
Support costs (see note 10) £ 115,248 |
Totals £ 262,937 |
|
|---|---|---|---|---|---|
| 31.03.22 | 31.03.21 | ||||
| Operation of | |||||
| the rugby club | |||||
| £ | £ | ||||
| 6,963 | 983 | ||||
| 4,592 | 1,794 | ||||
| 3,000 | 3,000 | ||||
| 425 | - | ||||
| 1,356 | - | ||||
| 235 | - | ||||
| 689 | - | ||||
| 2,597 | 72 | ||||
| 6,222 | 836 | ||||
| 875 | - | ||||
| 16,420 | 10,426 | ||||
| 13,334 | 12,956 | ||||
| 95 | - | ||||
| 11,413 | 6,237 | ||||
| 3,075 | - | ||||
| 633 | - | ||||
| (736) | - | ||||
| 5,015 | - | ||||
| - | 6,191 | ||||
| 169 | - | ||||
| - | 3,189 | ||||
| - | - | ||||
| - | - | ||||
| 20,431 | 9.619 | ||||
| 33,643 | 8,032 | ||||
| 6,838 | - | ||||
| - | 62 | ||||
| 2,767 | 1,642 | ||||
| 501 | 782 | ||||
| 107 | - | ||||
| 2,295 | - | ||||
| 384 | 185 | ||||
| - | - | ||||
| 4,056 | - | ||||
| 295 | 169 | ||||
| 147,689 | 66,175 | ||||
continued...
Page 11
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
10. SUPPORT COSTS
| 31.03.22 | 31.03.21 | |
|---|---|---|
| Operation of | ||
| the rugby club | ||
| £ | £ | |
| Rent, rates and service charges | 2,527 | 3,786 |
| Insurance | 8,427 | 8,819 |
| Light and heat | 9,911 | 3,343 |
| Cleaning | 5,727 | 5,090 |
| Repairs and maintenance | 28,270 | 4,231 |
| Printing, postage and stationery | 1,192 | 384 |
| Depreciation of tangible fixed assets | 41,336 | 41,617 |
| Telephone | 1,289 | 1,265 |
| Interest and charges | 2,118 | 1,389 |
| General expenses | 8,019 | 3,452 |
| Accountancy and bookkeeping | 2,962 | 3,130 |
| 111,778 | 76,506 | |
| NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.3.22 £ 41,336 |
31.3.21 £ 41,617 |
11. NET INCOME/(EXPENDITURE)
12. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration, expenses or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Members of the Board have not received any remuneration either directly or indirectly during the year and provide their services voluntarily. Certain expenses incurred on behalf of the charity are reimbursed to Members of the Board.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
13. STAFF COSTS
No employees received emoluments in excess of £60,000.
continued...
Page 12
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 14. 2021 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 10,570 - Charitable activities Hitchin Rugby 58,641 5,000 Other trading activities 42,809 - Investment income 37 - Other income 35,519 - Total 147,576 5,000 EXPENDITURE ON Charitable activities Hitchin Rugby 119,293 22,811 NET INCOME/(EXPENDITURE) 28,283 (17,811) RECONCILIATION OF FUNDS Total funds brought forward 191,112 403,884 TOTAL FUNDS CARRIED FORWARD 219,395 386,073 15. TANGIBLE FIXED ASSETS Improvements Fixtures Catering to Plant and and and bar property machinery fittings equipment £ £ £ £ COST At 1 April 2021 623,286 59,021 56,320 7,864 Additions - 8,656 - 2,466 Disposals (5,980) - - - At 31 March 2022 617,306 67,677 56,320 10,330 DEPRECIATION At 1 April 2021 188,512 35,916 21,511 5,650 Charge for year 31,419 5,707 3,480 730 At 31 March 2022 219,931 41,623 24,991 6,380 NET BOOK VALUE At 31 March 2022 397,375 26,054 31,329 3,950 At 31 March 2021 434,774 23,105 34,809 2,214 |
Total funds £ 10,570 63,641 42,809 37 35,519 152,576 142,104 10,472 594,996 605,468 Totals £ 746,491 11,122 (5,980) 751,633 251,589 41,336 292,925 458,708 494,902 |
Total funds £ 10,570 63,641 42,809 37 35,519 |
|---|---|---|
| 152,576 | ||
| 142,104 | ||
| 10,472 594,996 |
||
| 605,468 |
During the year, £5,980 was received from HMRC as a VAT repayment in relation to the recently built changing rooms.
continued...
Page 13
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
16. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Shares in | |
| group | |
| undertakings | |
| £ | |
| MARKET VALUE | |
| At 1 April 2021 and 31 March 2022 | 1 |
| NET BOOK VALUE | |
| At 31 March 2022 | 1 |
| At 31 March 2021 | 1 |
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Hitchin RFC Trading Limited
Registered office: Croft Chambers, 11 Bancroft, Hitchin, Hertfordshire, SG5 1JQ Nature of business: provide bar, shop and vending services
| Nature of business: provide bar, shop and vending services | ||||
|---|---|---|---|---|
| % Class of share: holding Ordinary 100 Aggregate capital and reserves Profit/(loss) for the year |
31.3.22 £ (4,002) 5,000 |
31.3.21 £ (4,002) (4,003) |
||
| The summary financial performance of the subsidiary is: | ||||
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Turnover | 91,075 | 8,879 | ||
| Cost of sales and administration costs | (66,450) | (21,555) | ||
| Other income | 4,728 | 8,673 | ||
| Net profit | 29,353 | ((4,003) | ||
| Amount donated to parent | (24,353) | - | ||
| Retained in subsidiary | 5,000 | - | ||
| The assets and liabilities of the subsidiary were: | ||||
| Current assets | 43,653 | 15,579 | ||
| Current liabilities | (62,661) | (32,980) | ||
| Total net liabilities | (19,008) | (17,401) | ||
continued...
Page 14
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 £ Trade debtors 1,659 Other debtors 6,501 Amounts due from group undertakings 52,991 VAT 2,782 Prepayments and accrued income 10,251 74,184 18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 £ Trade creditors 16,453 Accrued expenses 58,352 74,805 19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.22 £ Other loans (see note 20) 37,500 20. LOANS An analysis of the maturity of loans is given below: 31.3.22 £ Amounts falling between one and two years: Loan - Rugby Football Foundation 37,500 21. MOVEMENT IN FUNDS Net movement At 1.4.21 in funds £ £ Unrestricted funds General fund 219,395 16,458 Restricted funds Development fund - asset 314,260 (22,811) Development fund - money 71,813 55,500 386,073 32,689 TOTAL FUNDS 605,468 49,147 |
31.3.21 £ - 1,149 30,722 1,263 8,382 41,516 31.3.21 £ 33 83,550 83,583 31.3.21 £ 47,500 31.3.21 £ 47,500 At 31.3.22 £ 235,853 291,449 127,313 |
|---|---|
| 418,762 | |
| 654,615 |
Page 15
continued...
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
21. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Development fund - asset Development fund - money TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Development fund - asset Development fund - money TOTAL FUNDS |
At 1.4.20 £ 191,112 361,083 42,801 403,884 594,996 |
Incoming resources £ 256,584 - 55,500 55,500 312,084 Net movement in funds £ 28,283 (22,811) 5,000 (17,811) 10,472 |
Resources Movement expended in funds £ £ (240,126) 16,458 (22,811) (22,811) - 55,500 (22,811) 32,689 (262,937) 49,147 Transfers between At funds 31.3.21 £ £ - 219,395 (24,012) 314,260 24,012 71,813 - 386,073 - 605,468 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Development fund - asset Development fund - money TOTAL FUNDS |
Incoming resources £ 147,576 - 5,000 5,000 152,576 |
Resources Movement expended in funds £ £ (119,293) 28,283 (22,811) (22,811) - 5,000 (22,811) (17,811) (142,104) 10,472 |
|---|---|---|
Page 16
continued...
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
21. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Development fund - asset Development fund - money TOTAL FUNDS |
At 1.4.20 £ 191,112 361,083 42,801 403,884 594,996 |
Net movement in funds £ 44,741 (45,622) 60,500 14,878 59,619 |
Transfers between funds £ - (24,012) 24,012 - - |
At 31.3.22 £ 235,853 291,449 127,313 |
|---|---|---|---|---|
| 418,762 | ||||
| 654,615 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Development fund - asset Development fund - money TOTAL FUNDS |
Incoming resources £ 404,160 - 60,500 60,500 464,660 |
Resources Movement expended in funds £ £ (359,419) 44,741 (45,622) (45,622) - 60,500 (45,622) 14,878 (405,041) 59,619 |
Resources Movement expended in funds £ £ (359,419) 44,741 (45,622) (45,622) - 60,500 (45,622) 14,878 (405,041) 59,619 |
|---|---|---|---|
| 14,878 | |||
| 59,619 |
Purposes of unrestricted funds
General fund
The general reserve reflects the accumulated surplus from the general activities.
Purposes of restricted funds
Development fund
This fund relates to the development of the site including building changing rooms.
continued...
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HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
22. RELATED PARTY DISCLOSURES
During the year Hitchin RFC Trading Limited (the subsidiary company) donated £24,353 (2021 - £Nil) to the charity. At the end of the year Hitchin RFC Trading Limited owed the charity £52,991 (2021- £30,722).
23. SECURED CHARGE
A legal charge against the leasehold property and land has been registered by the English Sports Council in relation to the grant received from them for £150,000. Hitchin Rugby Limited have to comply with the terms of the Award for a period of 21 years after the date of the project agreement.
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