ChaTity registration number.. 1160612 The Watlington Club CIO Annual Report and Financial StateTncnt5 foT the Ycat Ended 31 March 2024
The Watlington Club CIO CoDtellts (continued) Relerence and Administrative Details Trusl¢es' Report 2104 Statement of Truslees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Noies to the Financial Staiements 9t017
The Watlington Club CIO Reference and Administrative Details Charity Registration Number 1160612 Principal Office 20 High Strttt IV2tlingtun Oxfordshire OX49 SPY Independent Examiner Woodwhite Accounlanls J.(d Unli 4, City Limits Danehill R¢ading Bcrks'hire RG6 4UP Page I
The IYat]ington Club CIO Trustees, Report Thc tnjstees prc5cnt ihe am]ual report togcther 1{h thc t-llncIal stalements of thc charity for the year ended 31 March 2024. Objectives aod actiTrities Objecls and aims To furthcr or benef&t the regidents of Wailington Parish and the neighbourhood, without distinction of sex. sexual orientation, racc vr of political, religious or oiher opinions by a8sociating logciher Ihe said re5identb and Ihe local authorities, volunurv and other organisaiion.8 in a common effort fo advancc cducalion and to provide facilitics in the interests of social welfare for recreation and leisure time occupation wryth the objective of itnproving the conditions of life for the rcsidenls. Public heAefit Thc Club is a rLgistered charity and has a long hislory dating biick to 1859. In thc 1920.8 thc Rcv. IlillgrDve c.ox purcha.qed the property known as Iligh Sireet Housc and placed il in trusl for Ihe benefit of thc residcnts of Wailington, originallv as the "War Memorial Club-. In the 1970's the members set aboul improving and updating the facilities and it was also reconstituled in the 1970's as a sports and social charitable institution. It cutrently supports seclions playing bowls. tennis. table tennis. squash and rackeiball. The trustees confim that they have complied with the requiremenis of section 17 of the Charilies Act 2011 to have dut regard to the public benefit guidance published by the Charity Commission for England and Ivales. FAnan¢Ral review The StatcinLllt of Financial Activities of tbc Club show a surplu5 of £23,817 (2023 dcficil of £3.782). The closing funds carricd torwaTd siood at £449,7?1 (2023 - £425.904). Our charitable aclivities both iT]doots and ouidoors have both continucd lo gtow as meinbership of our sporting sections increascs. Our rental income is lower Ihan in 2023 as 'e have takcn a decision to reduce conuncrcial Icn¢incies in our main building 10 enable this dcvelupmcnt. We continue lo suppori struggling tenants where possible in order to protect oui income available for charitable actiltieS and have largely avoidcd Ihe problems M'e encounlcred (and costs we incurrcd) in 2023 iviih problem tenaTJcies. We continue to manage closely the use of ihe charity's available ndS in light ol the current financial headmqnds. We hafve continued to repair our key $¢ tre necessary bui hai'e been tighter on discretionary spend on other renol'ations and improvcmenls. We have renegoii&iied our main cnergv supply contracts in the ycar, which will incrcase oiir ongoing costs. but prodcb sccurity of supply for thc forthcoming fcw years. Wc regularly review- and GhaTJge whcrc nccessary - our othcr kcy bupplier relationships lo ensurc that we continuc to get best value for moncy. Despilc lower incoTnc the decisions we have taken this veaT and lasi have resulted in our gencraling a %urplus for tl)e year. This provides with some flcxibilitv around our charilablc aclivilies and our property porilolio. We have developed ambilious plans for rcnoi."ation and increased usage of our available space and will scek to 3upplement our e7(IstJng avETrilable funds 'ith grant incom¢ where possible in order tts put these plans into action. Shortly after the year end, N4'c finally closcd outsiandlng clairns to busiThcss rales from our Ioc21 authoiiry. I-Iaving successfully argu¢d for a reappraisal of our floor space split, our polenlial liabllity reduced significantly. in addition, we were able siiccessfully claim relief5 to ieduce this rther. As a result, a SMAII provision was mad¢ in our dccounts this ycaT foi oulslanding raTes charges relating to the years up to and cnding 3 1st March 2024. Page 2
The Watlington Club CIO Trustees, Report (continued) Truste¢s and Ol¢erS The trustees and officers serving during the vear and since ihe year end tre as follows. Trusiees- Adam Beveridge, Cjeneral Trustee (appointed l May 2023) Pclcr BTuok, General l-rustcc Charlcs Eales, Chair. Tenni5 scctiun PeregYine Heathcote, Chair, Squash and Racketball sectt.on Christy Louise King.. Gcncral TtuslLe (resigned 9 October 2024) Ke.in Mears. General Ttuslee (resigned I l October 2023) Maurccn Norton, Chair, Bowls scc(ion Angle Paterson. General Truslee Neville Smith. Generdl Trutriiee Structurei gov¢rn*nce and maDagement 'fflHre ofgoverniNg documewl The Club is a cbaritable incorporated organisation (CIO) limited by guaTanlee and registered as a charity on 24 February 2015. The name of ihe charitable company as listed in the Register of Charities is The Watlinglon Club CIO. The charitable company is governed under the CUTrent conslilution. The registcred and principal address of the charity is 20 High Street. latI1ngto, OX49 5PI'. RecrMitmeHI and appointmenl oftrustees Membership ot ihe CIO is open to anyone who is interested in furthering it's purposes. The Trustees will consider the suitability of any applications tor appointsnenl as Trustees. New applications Thill be subject to checks to ensure suitability of Candidates and proNidcd these are validated ihen Tn]stees will vote on all new appointmcnts. Angle Paterson was duly rc-clccted a8 c.hair of TTUSt¢es in the Club's most recent AGM hcld on 9th Octobcr 2024. The offices of Secretary and Treasurer are bolh currently vacant. Organi.¥alifjnal.¥lruclure The Trustees dercrmine the direction and general policy of the Club in line with the Charity's objectives. The folluwing roles are ClientlY allocatcd to Trustees: Chairperson, SeLielJrv ¢ind Treasurer. TnLStees mectings are usually monthly throughout the ycai. The Club's facilities are managed by an external pmperty Tnanagcment company. Finaneial instruments Objeclives andpolicie5 The Lharity's aclivi(ies expose il to credit risk. The charity docs not use derivaiive finaT]cial instruments for speculative purposes. Page 3
The Watlington Club CIO Trustees. Report (continued) Credit risk The charity's principal financial assets are bank balances and eas trade and other receivables, and property investm¢nts. Thc charity's credit risk is PTimarily attributxble to its trade rcLciv2bles. The amounts picscnted in the balance sheei are nel of allowances for doubtful reccii'ablcs. An allowancc foi itnpaim)ent is madc where thcrc is an ideniified loss cvcnt .hich, basL"d on previous cxpcricnce, is evidencc of a rcdLLclion in thL reLoverabilily ofthe c&%h flows. The credit risk on liquid funds is liinited becau5c the counterparties aic bank% with high credit-ratings assigned by inlcTnational credit-rating agencies. The charity has no significant concentration of credit risl with exposure spread over a large number of Counterpanies and ¢ustomers. The any)ual report was approved by the tnee5 of the charity on 13 NTovember 2024 and signed on its behalf by.. Angic Paterson Truslcc Page 4
The Watlington Club CIO Statement of Trustees. Responsibilities The trustees are responsiblc for Preparing thc tTUStccs' report and the financial statements in accordancc with Ihe United Kingdom Accounting Standards (United Kin¥doTn Gcncrally Accepled Accounting Practicc) Jnd appltcable law and regulations. The law applicablc lo charities requires the trustee5 to prcparc financial slatemenls for each hnaD¢ial year which give a true and fair vicw, of ihc state of affairs of the charity and of the incoming re.wurces and application of resuurccs of the ¢harily for ihat period. In preparing these financial stalcments, the Trustees are required to-. select suitable accouniing poli¢i¢s and then appl). thcn] consistently- observe Ihe niethods and principles in (he ChaTilies SORP- make judgenienls and estimates that are reasonablc and prudent; state whether applicable accollnting standards have bttn followed. subject to any material departurcs disclosed and Lxplained in the financial statenients- and prcparc thc financial statenients on thc goinu conccTn ba515 unlcss il is inappropriate to prcsumc ihdl the charity will conlinuc in busine&s. The trustees are responsible foT keeping proper accounting record5 thai disclose with rcasonable accuracy at any lime the financial posilioll vf Ihc charity and enable thetn lo ensure that ihe financial statcmcnls comply wilh the Charilies Aci 2011. the C.hariliLS {Accounts and Rcportsl Rcguiaiions 2008, and the provisions of the constitution. Thc tru%iees are also responsible foT safeguarding Ihc assets of the charity and hence for taking reasonable steps for the prevention alld deiection of fraud and other iegular1ties. The trnslees are responsible for Ihe mainienance and integrity of the COTPOTale and fmancial inforn)alion included on tlie charitablc cumpany's wcbsite. Legislaiion goTrerning the prcpaiation and disseminatiun of flltsllctal slalemenls may diffcr froni Icgi51ation in other jurisdictions. Approved by the Inlee$ of the charity on 13 Novcnibcr 2024 and signed on ils behalf by.. Angle Paterson Trustee Page 5
The Watlington Club CIO Independent Examiner's Report to the trustees of The Watlington Club CIO I rcpon to the trnstccs oll my examinalion of the accounts" of The Watlington Club CIO for thc year cnded 31 March 2024. Responsibilitie5 and basis ol report As the charity trustees {?[ Thc Watlinglon Club C.10 )ou arc responsiblc for the preparation of the accounts in accoTdaT]ce with the requiiements of the Charities Act 2011 ('the Act.). I rcport in respect of my cxaminalion of the The IA atlington c.lub CTO'S accounls carried out under section 145 of the 2011 Act and in carrying out m), cxarninarion I have follo.ed all the applicablc Directions given bs.. the Charity C.'on)rni8sion under seciion 145(5){b) of the Act. IDdependent examiner's st¥tement I haTrc completed my exaTniniltRon. I confirni that no material matters have comc to my attention in conncclion qth the examination givingi me causc to bclici'c ihal in aJ)y material rcspccI= accounting record5 wcre nol kepl in respect of Thc Watlington Club CIO as required by section 130 of the 2. the accounts do not accord with those rOrdS- or 3. the acccbunts do not CQTnply with the accounting requirements concerning ihtr lorm and content of accounts sei out in the Charities (Accounts and Reports) Regulaiions 2008 oEher than any requirement Ihat the accounts give a 'lrue and fair view Nthich is noi a matt¢r considered as part of an independenl examination. I have no concerns and havc come across no oihcr matters in connection with thc cxamination to which attcntion should be drawn in this report in order to enable a propcr undersranding of the accouvbts to be reached. Keith Westran ICAEW Unit 4, City Limits Danehill Reading Berkshire RG6 4UP Datc.. IS , Page 6
The Watlington Club CIO Statement of Financial Activities for tbe Year Ended 31 March 2024 UDrestricled funds Restricted fuDds Total 2024 Note Income and Endowment5 from: Donations and grants Charitable aclivilies Investment income Other inconie 2.065 48,489 556 74.810 2,065 48,489 556 Total income 125.920 125,920 Expenditure on: Charitable activities (102,103) (102,103) Total expenditure (102,103 102 103 Nel income Nel movcment in funds 23,817 23,817 Reconciliation of funds Total fiEnds broughi lorward 425.904 425,904 Total fiu]ds cartied fonvard 14 449.721 449,721 Unrestricted funds Restricted funds Total 21123 Iyote Income and EndoTrvmenls from: Donations and grants Charitable activiiies 2.703 41,731 220 88,374 2,703 41.731 220 88.374 Investment income Other income Total income l JJ,028 133.028 Expenditure on: Charitable aclivilies (136.810 136,810) Totdl cxpcnditure (136.810) (136,810 Net expcnditure (3.782) 3.782) Net movement in funds (3.782) {3,782) Reconciliation tsf funds Totdl funds brought forward 429.686 429 686 Total funds carried forw•rd 14 The funds breakdoivn for 2023 is showw in note 14. 425.9114 425,904 The noies on paeS 9 to 17 forni an integral part ol these fUncIal slatemens. Page 7
The Watlington Club CIO (Registration number: 1160612) Balance Sheet as at 31 March 2024 2024 2023 riote Fixed assets Tangiblc assets io 279,113 282,819 Current asset5 Debtors Cash ai bank and in band li 12 346 179.876 10,614 154.219 180.222 164.833 Creditors: Amounts falling due within one Trear 13 (9.614 {21,748 Net current asset5 170.608 143,085 Net a$sets 449.721 Fund5 of the eharit).: Unre5tri¢ted ineome funds UnrcstriLted ndS 449 721 425,904 Total fllnds 14 449,721 425,904 The financial slatcmenls on pages 7 to 17 wcrc approved by ihc Inlee5, and authorised for issue on 13 November 2024 and signed on Ihcir behallby.. son Tst¢¢ The notes on pages 9 to 17 forn) an integral part of these fncial slalements. Page 8
The Watlington Club CIO Notes to the Financial Statements for the Year Ended 31 March 2024 l Accountin% polities Statement of eomplianie The linancial statements have beeD prepared in accordance with Ihe second edition of the Charities Statement of Recornmendcd Piactice issued in Octobcr 2019: FinCl1 Reporting Standard applicablc in thc Unitcd Kingdom and Republic of Ircland (FRS 102) and Ihc Chariiies Act 2011. Basis of preparatio The Ivatlinglon Club CIO meets the definition of a public benefit cntity undei FRS 102. The accounls (financial statements) ha'C bcen prepared undcr the hislorical c05t convention willi iteins recognised at C05t or Iransaclion value unless otherwise stated in the Telcvant noie(s) to thcsc accounls. Coing concern The trnstees consider that there DO material uncertainties about the charitys ability lo continue as a going concern. Income alld endowmeDts Voluntary income including doTJations, gifts, legacies and grants thal provide core funding or are ora general nature 15 recognised when ihe charity has entitlement to the income, it is probable that the inc0e will be received and thc amount can bc mcasurc(I with surficienl reliability. Donations and legacies DDTJatiuns and legacies are recognised on a receivable basis when receTrpt is probable dnd the amount can be reliably meagured. Grantf receivable Grants arc recogniscd whcn ihc charity has on entitlement to the funds and any conditions linkcd io the grants have been met_ Whcrc pcrforn]ancc Londilions are allached to the grant and are yct to bc mct: thc income is recognised as a liability and included on the balance theet as d¢f¢rr¢d incomc to bc rclca5cd. Deferred income Deferred incomc reprcsLnts amounls received foT future periods and is released to incoming resourccs in the period for which, tt has been received_ Such incomc is only dcferred when: - The donor spccifies ihat thc grant or donation must only be used in accounting pcriods. ur - The donor has imposcd conditi(bns which must bc mci bcfore Ihe charity has unconditional entitlernent. Expenditure All expenditiirc L5 recognised once there is a legal or constructivc obligation to that cxpenditure, it is probablc settlement is rcquired and the amount can be measured reliably. All costs arc allocaled io the applicable expenditure heading ihal aggregale similar ¢osls to thal cat¢oory. Wherc costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with Ibe use of resources, with central staff costs allocalcd on tbe basis of time spent, and deprecialion charges allocaied ihe portion ot the asset's use. Other support COSts arc allocaied based on ihe spread of sthff costs. Page 9
The Watlington Club CIO Notes to the Financial Statements for the Year Ended 31 Nlarch 2024 (continued) Charitable uclivilies Charitable expenditur¢ comprises those cosTs incurred by the charity in the delivery of its activilies and serviccs for its beneficiaries. It includes both costs that can be allocated directlv lo such aciii'ities and Ihosc costs of an indirect ndture n¢¢essary to support them. Support costs Support costs include central fvnclions and have been allocated to aclii'ily cost categories on a basis consistent with ihe use of rcsourccs, lor exaniple. allocaiing property costs by floor arcas, 01 per Capita, staff costs by the time spent and oiher costs by Ihcir usage. Governance costs These include the costs attributable to ihe charity's compliance wilh constilutional and statutory requirements, including audit, strategic management and Iruslees meetings and reimbursed expenses. Govcrnmcnt grants Govcrnrnenl grant.s are recogniscd based on the ac¢nl model and are mea5urcd at the tair value of the assct received or TeLeivable. Grantb are classified as relating either lo ievcnue or lo asseL8. Grants relating to r¢venuc are recognised in incornc LTrver Ihe period in which Ihe related costg are recogniscd. Grants relatingy lu as>els are recognised over th¢ expected useful life of the asset. Whcrc part of a grant relating LO an asset is deferred, it is recognised as defe¢d incomc. Taxation The charity is considered to pass the lesls set ou1 in Paragraph I Schedule 6 of the Finance Act 2010 and Ihcrelore it mect5 the dcfmition of a charilablc companv for IJK corporalion tax purposes. Accordingly, the charity is potcntially exempt from taxation in rcspcct of incomc or capilal gains rcccived within catcgoncs coi'cred by Chaptcr 3 Part I l of thc Corporation Tax Act 2010 or Scction 256 of the l-axation of Chargeable Gains Act 1992, to the cxtent thai such incorne or gains are applied exclusively to charitable purposcs. Tangible fixed assets Thc Charity owns the freehold tiilc of18 and 20 High Streei IIFatlington including the land lo Ihe rear of them. This was giftcd to the Charity at it's inceplion and as such is noi shown included rythIn tangible fixcd assets. Individual red a%sets co8ting £ 1.000 or inore are initially recorded at cost. less any subsequent accumulated depreciation and subsequent accumulated impairnient losses. Depreciation and 2mortj5ation InLliidLd within fixcd assets under frcchold propcrty is a building extcnsion w,hi¢h, in th¢ vicw of the Trustces, 18 impractical to separalc into compo%iie elements under F-RSI 02 and therefoTC has not been subject to annual depreciation and is sialed as tt's hislotic cosl. Futhre replacement> of aspec15 of the extension will be shown under repairs 2nd mainienance in the SOFA as incurred. Depreciation is prvi'ided on all other tangibl¢ fixed assels so as to ivrilc off the cost or valuation, Icss any estimated iesidual value, over their expecled useful eronomic life as follows= Land &. Buildings - Noi depreciated Furniture & Equipment - I1- 20 Years Page 10
The Watlington Club CIO Notes to tbe Financial Statements for the Year Ended 31 Thqarch 2024 (continued) Stock Siock is valued al the lower of cost and estimaled selling price les5 Costs to completc and sell. after due regard for obsuletc and slow moving stocks. Cost is deMIlned using the first-in, first-out {FIFO). Trade debtors Trade debtors are amounts due trom tenants in respect of outstanding rents oived. Trade debtors arc rccognised initially at the ttan5aclion price. They are subsequently measured at amortised cost usiniF the effcclii'e inlerebl meihod. less provision for impainncnt. A provision for the impairnicJ]t of trade deblors is established hen there is ubjeclive el'idence that the charity will not be able lo coll¢ci all amounts due aLcording to the original temis of thc Tcceiiiap bles. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and oiher short-temi highly liquid inveilmcnts that are readily coni'ertible to a known amounr of cash and are subject lo an insignificani risk of change in value. Trade creditOTS Trnde creditors are obligations lo pay for goods or scrvices that havc bccn acquired in the ordinary COUTse of business from suppliers. Accuunts Paydble are ¢la5sifJed as current liabilities if thc charity does not havc an unLondilional right. ai the end of thc reporting pcriod, to defei settlement of the crcditor foi ar leasi twelve month% after the reporting ddte. If ihere 18 an unconditional right lu defer settlement for at leasl ttvclve months after the reporting dale, IhLy ale presented as non-current liabilities. Borrowings Intcrcst-bearing bOrro,]ng arc initially recorded at fair valuc. net of transaction costs. Inlcrest-bearing borrowin45 are subsequ¢nilv carried at amortised cost, i*ith the difference bettN'een the procceds, n¢t of transaction costs, and the arnouni due on redemption being recogn15ed as a charge to the Statemeni of Financial Actii-'ities over the period of the Televanl borrowing. Interest expcnse is rccognised on ihe basis of the effcctive inrercsl rncihod and is included iii interest payable and similar charges. Borrowings dre classificd a5 curreni liabilities unless thc Lharity hd5 an unconditional right lo defcr settlemcnt of the liability for at least twclvc monihs after the reporting date. Fund structure Unrcslrici¢d income funds are general [ldS ihal arc available for use al the ISte¢S discretion in furtherance of the objective5 ofihe charity. Financial instruments Classificalion Financial asscts and financial liabilities are recooniscd when the charity bccomes a party to the contractual PTovisions of the in5truTnent_ FiTkanLial liabilitiLs and equiry instn]mcnts arc cla55ified according to the substancc of the contractual arrangements cntercd intl). An equity instrnmcnt is any ciTrntract that ei'idcnces a residual inlere.st in thc asscls uf thc charity after deducting all ol ils liabilities. Pagell
The Watlington Club CIO Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Recognilion and meusuremenl All financial assets dnd liabililies are initially measured at transaction PTice (including transaction costs). except for those financial assct5 classificd as al lair value Ihrough profit or loss: which are iiiitially measurcd ai fdir value (which is nonnally the transa¢tion price cxcluding transaction costs), iinless the arrangement constitutes a financing transaction. If an arrangemeiit constithte5 a tinanLing trdn5action: the linancial assel or financial liability is Tneasurcd at the prcscnl value ot. the fi]ture payments discounted at a market ratc of intcrc51 t-or similar debt Lristrument. Financial assets and liabilities arc only offbel in the statement of financial posttion when, and only whcn there exists a legally enforceable righl to set off the recogniscd amounts and ihe charity intends either to settlc on a nct basis, or lo realise the asset and Settle the liability simulianeously. Financial assets are derecogEll5ed when and only H'hen a) the contTactual right.s to the casl) floivs from Ihe fjnancial asset expire or are settled. b) the chatity translers lo another partv substantially all of the risks and Tewards of ownership of the Ilnancial assei. or c) thc charity. despite having rutaincd son]e. but not all, significant risks and rewards ol" ownership. has transferred control of the asset to anothcr party. Financial liabililies are derecognised only when the obligation specified in thc contract is discharged, can¢¢lled or expire8. Fair value measurement Thc bebl evidence of tair valuc is a quotcd pricc foi an identical asset in an actiTrc nidrket. lilhen quoted pri¢es arc un&vaildble, the pricc of a rcLcnt trdnsaLlion for an identical asset providcs cvidcnLC Ot fair value as long as there has not been a significant changc in cconomic circunL4tan¢es or a significant lap of tiFnC 51nc¢ the transaction look place. If the maTket Is nol activc dvjd recenl Iransactions Of an identical asset on their own are not a govd estimalc of fair alUe, the fair Value is estimated by using a valualion technique. 2 Tncome from dollations and grants Unrcs¢ricted funds General Total 2024 Total 2023 Donations and legacies- Donations from individuals Grants, including capital graTJts' Govcrnmenl granls 1.565 1.565 ,203 500 5VO 1,500 2,065 2,065 2,703 Page 12
The Watlington Club CIO Notes to the Financial Statements for the Year Endcd 31 llar¢h 2024 (continued) 3 from charilable aetilrylies Unre5trieted funds General Total 2024 Total 2023 Mcmbership Sports scction income Room hire 31.854 13,579 3,056 31.854 13.579 3,056 -10.157 9,010 48,489 48.489 4 Olher incomc Unrestricted funds General TotAI 2024 Total 2023 Rental income 74.810 74.810 5 Expenditure ou Charitable activities Llnrestricted funds General Total 2024 Ttstal 2023 Note Sport5 5CLtion costs Governance and support cnsts 12.288 89.815 15,926 120,884 89,81) 10? 103 102,103 13(),810 Page 13
The Watlington Club CIO otes to the Financial Statements for the Year Ended 31 March 2024 (continued) 6 Analysis of governance gnd support cost5 Unrestricted Total 2024 I'otal 202.1 General Property related expense% Depreciati(Trn, aniortisation and oiher similar costs Markcling and publicity Othcr (yovcrnancc Losts Independent Examiner's remuncration Legdl lees 68,352 8,920 715 7,628 3,150 1.050 68,352 8.920 715 7,628 3,150 1,050 86,224 8,920 839 17,272 2,995 4,634 89.81) 89,815 120.884 7 Trustefs remuneration and expenses No trustees, nor any pcr50ns conneclcd with them, have received any remuneration from thc charit}, during th¢ year. No trustees have receivcd any reimbursed expenscs 01 any other benefits from the charity during tl)e year. 8 Independent eiaminer's remuneration 2024 2023 Examination of thc financial slalcmenis 3,150 9 T2X2tion The charity is a regislered charity and is therefor¢ ¢xempt from tsxation. Page 14
The Watlington Club CIO ,Yotes to the Financial Statements for the Year Ended 31 March 2024 (continued) 10 Tangible fixed assets LaDd and buildings Furniture and equipment Total Cost At l April 2023 Additions 245,897 142.952 388,849 At 31 March 2024 245,897 148 165 394.062 Depreciation At l April 2023 Charge for the )'car 106.030 8,919 106,030 8,919 At 31 March 2024 114,949 114,949 Net book value At 31 March 2024 245 897 279,113 At 31 March 2023 245.897 36.922 ?82,819 I l Debtors 2024 2023 Tradc debtors 346 10,614 12 Cash and cash equivalent$ 2024 2023 Cash at bank Short-term deposits 66,346 113,530 34.459 19,760 179.876 154.219 Page 15
The Watlington Club CIO Note5 to the Financial Statements for the Ycar Ended 31 March 2024 (continued} 13 Creditows: amounls falling due Ivithin one vear 2024 2023 Trade Creditors Other creditors Accruals Defetred income {107) 2.630 3,455 8,647 4,400 2,995 9,614 21,74S 14 Funds BAlance at I April 2023 Incoming resources Rc50urtts expended Bal2n¢e at 31 ,VAarch 2024 Unrestricted lunds General 425.904 125.920 {102,103) 449,721 Balance at I April 2022 Incoming resources Resources expended Balance xt 31 March 2023 UnrestrlLted funds (Nencral 429,686 133.028 136,810) 15 Anal)'sis of net funds At l April 2023 At 31 March 2024 Casb flow Cash bank and in l)and 154,219 25,657 179,876 154,219 At l April 2022 25,657 179,S76 At 31 larch 2023 Cash flow Cabh al bank and in hand 146.560 7,659 154,219 146 560 154219 Page 16
The Iyatlington Club CIO Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 16 Analv5is ol llel assets betw'een funds All asscls and liabilities at 31 March 2024 and 31 Mdrch 2023 rLlatc tu unteslticlcd funds. Page 17