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 2025
FOR
HITCHIN RUGBY LIMITED
HITCHIN RUGBY LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| 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 |
| Detailed Statement of Financial Activities | 19 | to | 20 |
HITCHIN RUGBY LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
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 2025. 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.
ACHIEVEMENTS AND PERFORMANCE
The new head coach appointed in the 2024-25 season has had considerable success in recruiting new players and the club was able to field 2 sides on a more regular basis and three senior men's sides on occasion during the season. The coach has also worked hard to integrate older youth players into the senior club in-line with RFU regulations and appropriate safeguarding provisions. We are very pleased with the continued progress we have made in implementing best practice in safeguarding and this has been recognized positively as a good model for other clubs in the County.
The increase in numbers involved in men's rugby is promising, but this is still considered a work in progress for the charity.
Our women's section lost a number of players to largest clubs that are now matching the financial support that we have provided to women's rugby over the last decade. This meant that it was a hard season for the women's section and an area where we will need to provide additional support in the coming year.
We continue to look to executing phases 2 -4 of the clubhouse redevelopment, but in the absence of significant financial support we will continue to maintain and where possible improve the existing facilities.
Success in numbers for mini and youth and girls' rugby continues to be very positive for the charity. However, the large numbers of participants in sport at King Georges Recreation ground does present challenges in terms of available playing and training surfaces.
Income and expenditure
The results for the year show an overall surplus of £14,942 (2024 surplus £2,449).
FINANCIAL REVIEW
Financial overview
As an overview, the charity received 344,114 (2024 £217,851) of income during the year and had outgoings totalling £329,172 (2024 £215,402) giving a surplus of £14,942 (2024 £2,449). The funds carried forward are £296,699 (2024 £258,705) of unrestricted reserves and £368,538 (2024 £391,590) of restricted reserves.
Reserves policy
The charity's income, expenditure and funds for the year to 31 March 2024 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.
Page 1
HITCHIN RUGBY LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
FUTURE PLANS
In the yeas 2025 -26 we are looking to recruit a new women's head coach, assistant coach and a coach for the U18 girls' section. This will allow us to provide a better standard of coaching and keep us competitive with local clubs. We will run a recruitment campaign for senior men and aim to field three sides on a regular basis.
We aim to retain and reconnect with younger players who have not been involved in the sport for some time.
We will undertake significant pitch repairs and create a fourth pitch on the field if agreed with North Herts District council. We expect additional costs in terms of floodlight and changing room maintenance as the facilities have been installed for some time.
We aim to improve the spaces in the clubhouse to make them more usable and more welcoming to women and girls. We also have plans to decorate and remodel internally to improve space.
We have a programme in place to start a walking rugby section to increase the range of participation at the charity to older and less able-bodied members of the local community.
As with the previous year, our aspiration to embark on phases 2-4 of the clubhouse and changing facility redevelopment remains a strong focus. However, funding streams remain limited at this time, and we do not currently have enough volunteers to embark on a major fundraising drive. Alternatives to the use of volunteers will be considered.
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
Page 2
HITCHIN RUGBY LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Registered office
Croft Chambers 11 Bancroft Hitchin Herts SG5 1JQ
Trustees
P E Tasko C J Henshaw-Allcock T C Jeffries Director
Independent Examiner
Bradshaw Johnson Chartered Accountants Croft Chambers 11 Bancroft Hitchin Hertfordshire SG5 1JQ
Approved by order of the board of trustees on 19 December 2025 and signed on its behalf by:
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 2025.
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 member of the Institute of Chartered Accountants in England and Wales, 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
-
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
Bradshaw Johnson Chartered Accountants Croft Chambers 11 Bancroft Hitchin Hertfordshire SG5 1JQ
Date: .............................................
Page 4
HITCHIN RUGBY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 64,254 Charitable activities 6 Hitchin Rugby 176,222 Other trading activities 4 101,316 Investment income 5 4,382 Other income 7 (2,060) Total 344,114 EXPENDITURE ON Charitable activities 8 Hitchin Rugby 306,120 NET INCOME/(EXPENDITURE) 37,994 RECONCILIATION OF FUNDS Total funds brought forward 258,705 TOTAL FUNDS CARRIED FORWARD 296,699 |
Restricted funds £ - - - - - - 23,052 (23,052) 391,590 368,538 |
31.3.25 Total funds £ 64,254 176,222 101,316 4,382 (2,060) 344,114 329,172 14,942 650,295 665,237 |
31.3.24 Total funds £ 52,930 78,519 82,418 3,824 160 217,851 215,402 2,449 647,846 650,295 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
HITCHIN RUGBY LIMITED
STATEMENT OF FINANCIAL POSITION 31 MARCH 2025
| 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 £ 142,445 1 142,446 90,875 115,368 206,243 (41,990) 164,253 306,699 (10,000) 296,699 |
Restricted funds £ 232,635 - 232,635 - 135,903 135,903 - 135,903 368,538 - 368,538 |
31.3.25 Total funds £ 375,080 1 375,081 90,875 251,271 342,146 (41,990) 300,156 675,237 (10,000) 665,237 296,699 368,538 665,237 |
31.3.24 Total funds £ 415,735 1 415,736 40,824 250,862 291,686 (39,627) 252,059 667,795 (17,500) 650,295 258,705 391,590 650,295 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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
continued...
Page 6
HITCHIN RUGBY LIMITED
STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2025
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 19 December 2025 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 2025
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 2025.
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 2025
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
----- Start of picture text -----
||||
|---|---|---|
|31.3.25|31.3.24|
|£|£|
|Donations|60,664|43,930|
|Grants|3,590|9,000|
|64,254|52,930|
|Grants received, included in the above, are as follows:|
|31.3.25|31.3.24|
|£|£|
|Other grants|3,590|9,000|
----- End of picture text -----
continued...
Page 9
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
4. OTHER TRADING ACTIVITIES
| Beer festival Playing subs Sponsorships including dinners lunches, ball etc Social income Hire of clubhouse Other 5. INVESTMENT INCOME Deposit account interest 6. INCOME FROM CHARITABLE ACTIVITIES Activity Mini & Junior Pavilion Hire Football Hire Pitch Hire Match fees Saracens camp Tour U13's Tour U14's Tour U15's Tour U16's Tour U17's Tour U18's M & Y Tour Girls Tour Founders' Day 2nd Hand Kit Stall Touch Rugby Tag festival Autumn Internationals Cat A Mens Tour Ladies Tour Grants & Appeals Six Nations |
31.3.25 £ 8,564 15,289 67,671 538 4,888 4,366 101,316 31.3.25 £ 4,382 |
31.3.25 £ 8,564 15,289 67,671 538 4,888 4,366 101,316 31.3.25 £ 4,382 |
31.3.24 £ 9,027 15,234 51,250 124 4,295 2,488 82,418 31.3.24 £ 3,824 |
|
|---|---|---|---|---|
| 31.03.25 £ 41,858 4,800 1,267 4,724 4,807 - - 5 - - 22,552 - 45,838 29,752 (50) 7,027 569 - (2,700) 2,861 16,892 686 (4,666) 176,222 |
31.03.24 £ 40,911 6,100 1,320 4,371 5,056 - 17 206 1,389 - - 5 4,446 6,111 - 5,800 211 2,787 - - - - - 78,519 |
continued...
Page 10
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
7. OTHER INCOME
| Bungalow Rent | 31.03.25 £ (2,060) (2,060) |
31.03.24 £ 180 180 |
|||
|---|---|---|---|---|---|
| CHARITABLE ACTIVITIES COSTS Hitchin Rugby |
Direct Costs (see note 9) £ 227,382 |
Support costs (see note 10) £ 101,790 |
Totals £ 329,172 |
8. CHARITABLE ACTIVITIES COSTS
continued...
Page 11
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
9. DIRECT COSTS OF CHARITABLE ACTIVITIES
| Kit and playing equipment Catering Pitch Hire Transport Referees' Expenses Recruitment Expenses Players' Expenses Laundry Physio Entry fees Coaching and training expenses Maintenance - Pitch Course fees Ladies budget Physio, first aid and consumables Awards and trophies Flags and banners Saracens live games Tour U13's Tour U14's Tour U15's Tour U16's Tour U17's M & Y Tour Girls Tour Stash Account Maintenance - Floodlights TV Costs M & Y Pathway Misc costs Incentive payments (men) Mens Tour Ladies Tour Gym Equipment Hospitality |
31.03.25 Operation of the rugby club £ 10,078 16,036 6,500 1,973 1,573 -28 105 2,261 6,000 2,450 14,100 20,998 75 13,788 2,054 778 300 - - 5 - - 22,552 46,756 29,752 889 - 5,282 - 762 - 2,083 15,654 3,567 1,039 227,382 |
31.03.24 £ 8,841 15,995 3,000 - 1,203 1,230 277 1,517 6,644 1,985 14,616 13,330 395 16,434 2,153 635 772 (718) - - - - - 12,174 - 1,513 920 4,877 640 739 50 - - - 601 109,643 |
|---|---|---|
continued...
Page 12
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
10. SUPPORT COSTS
| Rent, rates and service charges Insurance Light and heat Cleaning Repairs and maintenance Printing, postage and stationery Depreciation of tangible fixed assets Telephone Interest and charges General expenses Accountancy and bookkeeping 11. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.03.25 Operation of the rugby club £ 7,736 11,556 9,993 15,432 6,342 152 41,255 1,181 123 5,047 2,973 101,790 |
31.03.24 £ 4,994 10,364 16,285 13,864 2,093 1,000 42,770 918 497 9,861 3,113 105,759 |
|---|---|---|
| 31.3.25 £ 41,255 |
31.3.24 £ 42,770 |
12. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration, expenses or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
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 2025 nor for the year ended 31 March 2024.
13. STAFF COSTS
No employees received emoluments in excess of £60,000.
continued...
Page 13
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
14. 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Hitchin Rugby Other trading activities Investment income Other income Total EXPENDITURE ON Charitable activities Hitchin Rugby NET INCOME/(EXPENDITURE) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD TANGIBLE FIXED ASSETS Improvements to property £ COST At 1 April 2024 633,200 Additions - At 31 March 2025 633,200 DEPRECIATION At 1 April 2024 282,821 Charge for year 31,660 At 31 March 2025 314,481 NET BOOK VALUE At 31 March 2025 318,719 At 31 March 2024 350,379 |
Plant and machinery £ 75,368 - 75,368 48,913 5,292 54,205 21,163 26,455 |
Unrestricted fund £ 52,930 78,519 82,418 3,824 160 217,851 192,095 25,756 (14,002) 11,754 246,951 258,705 Fixtures and fittings £ 67,671 600 68,271 32,500 3,557 36,057 32,214 35,171 |
Restricted funds £ - - - - - - 23,307 (23,307) 14,002 (9,305) 400,895 391,590 Catering and bar equipment £ 11,937 - 11,937 8,207 746 8,953 2,984 3,730 |
Total funds £ 52,930 78,519 82,418 3,824 160 217,851 215,402 2,449 - 2,449 647,846 650,295 Totals £ 788,176 600 788,776 372,441 41,255 413,696 375,080 415,735 |
|---|---|---|---|---|
15. TANGIBLE FIXED ASSETS
During the year, £6,808 was received from HMRC as a VAT repayment in relation to the recently built changing rooms.
continued...
Page 14
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
16. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | ||
|---|---|---|
| Shares | in | |
| group | ||
| undertakings | ||
| £ | ||
| MARKET VALUE | ||
| At 1 April 2024 and 31 March 2025 | 1 | |
| NET BOOK VALUE | ||
| At 31 March 2025 | 1 | |
| At 31 March 2024 | 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 Loss for the year |
31.3.25 £ - - |
31.3.24 £ 2,742 (2,674) |
| The summary financial performance of the subsidiary is: Turnover Cost of sales and administration costs Other income |
31.3.25 £ 102,576 (68,038) - |
31.3.24 £ 117,690 (83,087) - |
| Net profit Amount donated to parent Retained in subsidiary The assets and liabilities of the subsidiary were: Current assets Current liabilities Total net liabilities |
34,538 (34,096) 442 46,906 (62,847) (15,941) |
35,233 (37,907) (3,304) 27,033 (42,382) (15,349) |
continued...
Page 15
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.3.25 £ Trade debtors 13,269 Other debtors 500 Amounts due from group undertakings 55,559 VAT 12,551 Prepayments and accrued income 8,996 90,875 18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 £ Trade creditors 15,926 Other creditors 644 Accrued expenses 25,420 41,990 19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.25 £ Other loans (see note 20) 10,000 20. LOANS An analysis of the maturity of loans is given below: 31.3.25 £ Amounts falling between one and two years: Loan - Rugby Football Foundation 10,000 21. MOVEMENT IN FUNDS Net movement At 1.4.24 in funds £ £ Unrestricted funds General fund 258,705 37,994 Restricted funds Development fund - asset 255,687 (23,052) Development fund - Money 135,903 - 391,590 (23,052) TOTAL FUNDS 650,295 14,942 |
31.3.24 £ 2,800 5,228 32,092 704 - 40,824 31.3.24 £ 6,062 1,965 31,600 39,627 31.3.24 £ 17,500 31.3.24 £ 17,500 At 31.3.25 £ 296,699 232,635 135,903 368,538 665,237 |
|---|---|
continued...
Page 16
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
21. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 344,114 Restricted funds Development fund - asset - TOTAL FUNDS 344,114 Comparatives for movement in funds Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 246,951 25,756 Restricted funds Development fund - asset 269,082 (23,307) Development fund - Money 131,813 - 400,895 (23,307) TOTAL FUNDS 647,846 2,449 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 217,851 Restricted funds Development fund - asset - TOTAL FUNDS 217,851 Purposes of unrestricted funds General fund The general reserve reflects the accumulated surplus from the general activities. |
Resources Movement expended in funds £ £ (306,120) 37,994 (23,052) (23,052) (329,172) 14,942 Transfers between At funds 31.3.24 £ £ (14,002) 258,705 9,912 255,687 4,090 135,903 14,002 391,590 - 650,295 Resources Movement expended in funds £ £ (192,095) 25,756 (23,307) (23,307) (215,402) 2,449 |
|---|---|
Purposes of restricted funds
Development fund
This fund relates to the development of the site including building changing rooms.
continued...
Page 17
HITCHIN RUGBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
22. RELATED PARTY DISCLOSURES
During the year Hitchin RFC Trading Limited (the subsidiary company) donated £34,096 (2024 - £37,907) to the charity. At the end of the year Hitchin RFC Trading Limited owed the charity £55,559 (2024 - £32,092).
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.
Page 18
HITCHIN RUGBY LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| 31.3.25 | 31.3.24 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 60,664 | 43,930 |
| Grants | 3,590 | 9,000 |
| Other trading activities | 64,254 | 52,930 |
| Beer festival | 8,564 | 9,027 |
| Playing subs | 15,289 | 15,234 |
| Sponsorships including dinners lunches, ball etc | 67,671 | 51,250 |
| Social income | 538 | 124 |
| Hire of clubhouse | 4,888 | 4,295 |
| Other | 4,366 | 2,488 |
| Investment income | 101,316 | 82,418 |
| Deposit account interest | 4,382 | 3,824 |
| Charitable activities | ||
| Charitable activities | 176,222 | 78,519 |
| Other income | ||
| Bungalow rent | (2,060) | 160 |
| Total incoming resources | 344,114 | 217,851 |
| EXPENDITURE | ||
| Charitable activities | ||
| Direct costs | 227,382 | 109,643 |
| Support costs | ||
| Management | ||
| Rent, rates and service charges | 7,736 | 4,994 |
| Insurance | 11,556 | 10,364 |
| Light and heat | 9,993 | 16,285 |
| Telephone | 1,181 | 918 |
| Printing, postage and stationery | 152 | 1,000 |
| General expenses | 5,047 | 9,861 |
| Cleaning | 15,432 | 13,864 |
| Repairs and maintenance | 6,342 | 2,093 |
| Accountancy and bookkeeping | 2,973 | 3,113 |
| Depn of leasehold property imp rovements | 31,660 | 31,915 |
| Fixtures and fittings | 3,557 | 3,884 |
| Depn of catering and bar equip ment | 6,038 | 6,971 |
| Interest and charges | 123 | 497 |
| 101,790 | 105,759 |
This page does not form part of the statutory financial statements
Page 19
HITCHIN RUGBY LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| 31.3.25 | 31.3.24 | |
|---|---|---|
| £ | £ | |
| Total resources expended | 329,172 | 215,402 |
| Net income | 14,942 | 2,449 |
This page does not form part of the statutory financial statements
Page 20