Registered Charity No. 1160503
RADWINTER RECREATION GROUND CHARITY UNAUDITED ANNUAL REPORT AND ACCOUNTS 31 MARCH 2023
1
RADWINTER RECREATION GROUND CHARITY
RADWINTER RECREATION GROUND CHARITY Harbury House, Princes Well, Radwinter. CB10 2TE
The Trustees present their Report for the year ended 31 March 2023
The charity was established as a Charitable Incorporated Organisation (a Charity with limited liability) by constitution adopted in February 2015. Registration with the charity commission was granted in February 2015, registered Number 1160503.
Objectives and Activities
The objectives of the charity are
To promote for the benefit of the inhabitants of Radwinter and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.
The aims of the charity are
- To help improve the health and well-being of the community through the availability of easily accessible community, sporting and recreation facilities.
The trustees comprise 1-6 appointed and 2-4 nominated from the Parish Council. The only persons eligible to be members of the CIO are its charity trustees. Peter Fitch is no longer a Parish Councillor and has remained as a trustee. In these circumstances, the Parish Council declined to nominate an additional trustee.
Operational matters are delegated to management committee consisting of Trustees and management committee members who are co-opted. A proportion of the Trustees are elected annually for a period of 3 years.
Members of the Management Committee (Trustees marked*) were:
| Julie Plisner Haines* | Chair | Elected |
|---|---|---|
| Jane Bailess | Secretary | Elected |
| Kim Haworth* | Treasurer Elected |
|
| Helen Brown* | Elected | |
| Peter Fitch* | Elected | |
| Eileen Duck*(PC) | Nominated |
Katharine Shoolheifer Claire Moore Nicola Wiseman Caroline Baynes Susan Hunt Jake Piper
Statement of Trustees responsibilities
The charity trustees must comply with the requirements of the Charities Act 2011 with regard to the keeping of accounting records, to the preparation and scrutiny of statements of account, and to the preparation of annual reports and returns.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity. They are also
2
RADWINTER RECREATION GROUND CHARITY
responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Risks and Reserves
The Trustees have reviewed the objectives of the charity and considered the nature of the activities and associated risks. During the last two years the Covid pandemic led to the hall being closed over most of that period along with many other charitable concerns this has had a financial impact on the income and running of the Pavilion and Recreation Ground. Fortunately owing to the careful financial management of the hall by the committee of trustees over the years, having a strong reserves policy and the subsequent receipt of covid awards and grants we are in a position where we are able to absorb a certain amount of financial loss. The charity has £17K reserves to cover the next years operating costs and has generated £21K sinking fund for maintenance of Pavilion, MUGA and grounds.
Reserves policy and going concern
During the year the trustees have reviewed the level of reserves they believe are required to fund the work of the Recreation Committee.
-
Restricted funds are grants and/or donations received money that are held on trust for particular purposes and can only be spent on those purposes.
-
Committed funds is an amount t of money from its “own funds” that the charity has earmarked or set aside for a particular project or area of expenditure.
-
Own funds are held to finance working capital requirements and are defined as unrestricted funds. The target for own funds has previously been set at around £14K, which equated to 12 months of budgeted overhead expenditure. Own funds are monitored regularly and discussed at each of the Recreation Ground Committee meetings that occur at least 4 times per year. At 31 March 2023 own funds were £17K (2022: £9K) and virtually matched 12 months of operating costs. The trustees will continue to monitor reserves levels closely during the coming year.
Subsequent to the review of reserves and work undertaken during the year, the trustees are satisfied that sufficient reserves are held to allow the charity to continue operating as a going concern.
The trustees and members considered and concluded there were no material uncertainties for the Radwinter Recreational Ground Charity to continue operating for at least 12 months from the approval of this Annual Report following consideration of budgets, forecasts, cash flow projections and reserves.
Finances
The aim of the Trustees is to raise income derived from recreation activities and hall hire in order to ensure outgoings are adequately covered. Radwinter Parish Council provide £3K towards recreation ground costs.
This report was approved by the Trustees on
Julie Plisner Haines Chair
3
Profit and Loss Account For the year ended 31 March 2023
| Income Hire and Pitch fees 1 Fundraising Events Donations Grants Bank Interest Total Income Expenses Running and Maintenance Costs Improvements Inspection fees Pitch Fees Utilities Insurance Sinking Fund Total Expenses Proft/(Loss) |
2023 £ 7,905 6,366 1,000 3,000 63 18,334 4,817 0 504 6,900 930 1,122 4,360 18,633 (299) |
2022 £ 5,000 4,876 0 5,835 3 |
|---|---|---|
| 15,714 | ||
| 2,821 0 355 3,066 1,066 1,035 4,360 |
||
| 12,703 | ||
| 3,011 |
1. Loss for 2023
The charity made a small loss in the period as income was down compared to pre covid levels and operating costs have not been supplemented with any grants.
2. Hire & Pitch Fees
Hire and pitch fees have recovered from the previous period since cessation of lockdown. However still down on pre-covid levels by c£5K.
3. Expenses
The committee received £3K in the financial year from Radwinter Parish Council to cover a portion of its recreation ground running costs. In prior year the charity received covid grants towards operational costs and have been netted against the relevant cost line, the increase in expenses in this financial year is purely due to the results reflecting the true operating costs.
4
RADWINTER RECREATION GROUND CHARITY
| Balance Sheet As at 31 March 2023 Fixed Assets Pavilion, MUGA and Recreation Ground Current Assets Other Debtors Stock Bank - Restricted Bank - Designated own funds Bank and cash - Unrestricted Current Liabilities Accruals – Bike Track & Playground Net Current Assets Net Assets Pavilion and Recreation Fund Pavilion and Recreation Fund Playground & Swing Proft and Loss Account |
1,383 130 0 21,116 17,097 |
2023 £ 276,810 39,726 8,929 30,797 307,607 275,787 32,119 (299) 307,607 |
4,120 106 1,011 28,801 9,158 |
2022 £ 281,170 43,196 16,460 |
|---|---|---|---|---|
| 8,929 | 16,460 | |||
| 26,736 | ||||
| 307,906 | ||||
| 272,776 32,119 3,011 |
||||
| 307,906 |
Designated own funds represents £21K maintenance sinking fund for Pavilion and MUGA.
Restricted Funds
| Incoming resources Balance as at 01 April 2022 Grants & Donations Resources expended by restricted funds BMX club days Active Essex initiatives Utilised to upkeep costs Total resources expended Balance as at 31 March 2023 |
Repai r Café BMX Total £ £ £ 500 511 1,011 |
|---|---|
| 500 511 1,011 |
|
| 0 511 511 500 0 500 |
|
| 500 511 1,011 |
|
| 0 0 0 |
5