**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:
1. 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
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.
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