Charity reglstratlon number 1160980 Company registratlon number 04740154 (England and Wale51 KENDAL RUGBY UNION FOOTBALL CLUB LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Drs A Green Mr J Nltho150n Mr A Perie Mr C I Wheatman Mr W Coxon Mr D Alrey Mr C Hayton Mrs C G Park Mr Andrew Blenkharn Mr R J Burrow Mrs J L Rigg M5 F M Stsnton (Appointed l November 20231 (Appolnted l November 20231 IAppolnted l November 20231 (Appolnted l November 20231 Secretary MrMJWBarr Charlty number 1160980 Company number 04740154 Prlnclpal •ddress Mlnt Brldge Shap Road Kendal Cumbrla LA9 6NY Rezlstered office Mint Brldge Shap Road Kendal Cumbria LA9 6NY Independert examlner lan Thompson FCA Saint & Co Chartered Accountants The Old Pollce Statlon Church Street Ambleside Cumbria L422 OBT
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED CONTENTS Page Chairman's statement Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 9-21
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 30 APRIL 2024 The Club ha5 had another challenging year, with the Board working hard to keep the financial position of the Club secure, concentrating on both expanding our business and keeping costs under control. It is my 20th year as Chairman and no le5S difficult than the previous 19. Our accounts show another loss for the Trading Company, which though unwelcome, can be accounted for entirely by the increase in the cost of our utilitie5 and increasing cost of consumables. We have increased our turnover by approximately £90k but have seen a larger increase in the cost of purchases and expenses in common with the current economic climate. We are extremely grateful to our sponsors, members and supporters as without your financial support we could not continue to provide the sporting opportunities for our local community. In the past the RFU provided substantial support for community rugby clubs like ours. Today, despite claiming to do so, the reality is that we have seen an erosion of financial support. As an example, our travel grant for the Men's 1st team for the whole season is £400. The cost of a coach to an away match is now at least £700 and we have 11 away League games per season. You may think this is a derisory amount of support, There are, naturally other travel costs for the 2nd team, Wasps and Colts. which receive no support at all. We have been in our 'new' location since 2017, and this past year ha5 seen some unexpected costs for repairs and maintenance. The three original hot water boilers started giving trouble with one leaking from the casing and failing, then a second until we were relying on a single unit to provide shower5 and general supply. It became urgent that we replaced the hot water supply, and two new uprated boilers have been fitted at a cost of £40k. Additionally, our insurers insisted, at renewal of cover, that we added a fire suppression system to the upstairs kitchen which cost £4k, These costs are in exce55 of our planned maintenance budget but were unavoidable. Another unpleasant surprise was finding that the maln grass pitth had developed extensive boggy areas between the halfway line and the river end. Previously the drainage had been excellent, but trlal holes showed that water remained after rain and did not drain away as expected. We undertook an investigation of the drainage, and this showed that the slde sand slits that drain to the main underground plpes were compressed and needed to be replaced. It is unfortunate that there Is an impermeable band of slate under thÈ pitch which starts at the dugouts and stretches roughly diagonally across the pitch towards the containers at the far end of the car park. This accounts for the water retention. You will have seen our Crowdfunding Appeal to raise money to undertake the repairs, which was organised superbly by Claire Park. We are very grateful to all who have contributed and now have some £18k in funds (including Gift Aid). The works were completed by early September in time for the worst of the weather and will prevent deterioration of the pitch through the winter. I regret to report that our Hon. Secretary, Mike Barr, has resigned his position, but is helping with essential tasks until we can find a replacement. Mike has been a superb support to the Board for many years and we are sorry to lose him. The workload as Hon. Sec is largely unseen and Involves many administrative tasks, including drafting agendas for numerous meetings, taklng and circulating minutes, Mike has undertaken the role wlth enthusiasm and commitment, and we shall all miss him, Oespite the somewhat downbeat aspects of our situation our business activity, which supports our rugby costs, is generating a growing reputation for our conference facilities and as an entertainment venue. The family-friendly culture at the Club is an essential part of our success and l am grateful to everyone who contributes in so many different ways. We are proud to be a largely volunteer-led Club with over 100 members registered to help in all areas of the Club's activities. The Board is extremelv grateful for their support which is so essential to our core activitie5. Kind regards, Stephen Green Stephen Green Chairman KRUFC Oate: 17 October 2024
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 APRIL 2024 The trustees present thelr annual report and flnanclal ststements for the year ended 30 Aprll 2024. The flnanclal statements have been prepared in accordante wlth the accountlng pollties set out In note I to the flnanclal statements and comply wlth the Charity's governing document, the Companles Act 2006 and 'Accountlng and Reportln8 by Charltles.. Statement of Recommended Practice applicable to charitle5 preparing their accounts In accordance wlth the Financlal Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" leffectlve l January 20191. Oblectl¥es and actlvltles Summary of the obJe¢ts set out In the qovernlnq do¢ument The Charlty's objects are as follows: 11 To promote communlty partlclpation In healthy recreatlon by providing for playlng rugby unlon football and other sports. 21 To provlde and asslst In provldln8 facllltles for sport, recreatlon or other lelsure tlme occupatlon of such persons who have need of such facllltles by reason of thelr youth, age, Snflrmlty or dlsablementi poverty or social and economlc circumstances or for the publlc at large In the Interests of soclal welfare and wlth the object of 5mprovln8 thelr conditlon5 of life. 31 To advance the educatlon of chlldren and young people through 5u¢h means a5 the dlrertors think fit in accordance with the laws of the charlty. Summary of the maln a¢tlvltles In relatlon to these objects Senlor Rugby - Coachlng and tralnlng of senlor ru8by teams for both men and ladles and the playlng of matches In varlous leagues. Youth Rugby - Coachln8 and trainin8 of several age related team5 of rugby players from the age of 13 to 18 and playing in matches and tournament5. Mlnl Rugby - Coaching and tralnlng of several age related teams for boys and glrls from the ages of 5 to 12 and playlng In matches and tournaments General - Through schools and 5peclflc courses open to the publlc. the club offers rugby playln8 OPPOrtunltles to the wlder ¢ommunlty In addltlon, in Ilne wlth Its oblectlves, the Charlty offers opportunlties for the communlty to take part in Touch Rugby sessions for all age ranges, Walkln8 Rugby Ifor mlxEd gender5} for the over 505 and the use of facllities for Rugby Camps. Publlc IxTrnefit The trustees confirm that they have referred to the guldance contained in the Charity Commissioner's general guldance o public benefit when reviewing the Charlty's alms and oblettives and in planning future activities. The trustee5 are 5at15fied that the charity contlnues to meet the required publlc benefit test thmugh its oblectlves and actlvltles.
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORn (CONTINUED) FOR THE YEAR EIVDED 30APRIL 2024 Achlevements and performance Significant octlvlties ond achievement5 against objective5 The Men's 1st team finished 6th In a competitive League, the newly promoted Wasps continued thelr hl8h standard by finishing 3rd (by one polnt from 2nd) an excellent result. The 2nds also performed well In the Halbro League flnishing 2nd. We have had success throughout the Club, from the 5-year-old Little Stlnger5 (free membershlp next yearl to the slightly older Auld Greys who have a large regular following playlng Walking Rugby. The AGS have led the way In expandlng interest in Walklng Rugby. They contlnue to recruit and promote fltness for the local population of over 505. We are proud that a number of last year's senlor colts have transltloned to senlor rugby with 9 of our recent 1st team selectlon having come through our youth development program. We also added to both the men's and women's County squad wlth a number of players representlng Cumbrla, Flnanclal revlew Three of the Charity Trustees are also Directors of the Trading Company, which manages the First team and the operatlon of the bar. servery and other caterlnB facllltles. The Charlty charges the Trading Company rent Icurrently £17,5(KJ per annuml for use of the facllltles. A separate set of accounts Is prePad for the TradSng Company and a summary Is shown at Note 22. Last year the Charlty donated £50k to the Tradlng Company to pay legltlmate expenses Incurred by the Charlty supportlng Its aims and objectives relatlng to the local communlty. Loans to the Tradlng Company Increased by £41k from £223k to £264k 12023: decreased by £35k from £258k to £223kl. Reserves pollcy It Is the desired pollcy of the board to create and retain sufflclent reserves to enable the club to malntaln and enhance its facilltSes and provlde rugby opportunities to the communities In the Kendal area, Investment The Trustees have the power to Invest the Club's a55et5 as they see flt. The investment commlttee Is chalred by Chrls Wheatman tO8ether with three other Trustees and revlews the opportunlties for a return on the Club's capltal while protecting Its assets. The net investment Income less charges plus net 8ains over the year was a 8ain of £67k with a year-end valuation of £l,516k12023- £1,568kl. Note the reductlon of the overall investment portfollo desplte the net gain is due to the withdrawal of funds totalllng £119k during the year. Major rlsks to whlch the chorftyls exposed The trustees have examined the major strateglc, busine55 and operational rlsks which the charity faces and confirms that systems have been established to enable regular reports to be produced so that necessary steps can be tsken to lessen these risks. Major risks Molor risks to whl¢h the charftyls exposed The trustees have examined the malor strategic, business and operational rlsks which the charity fates and confirms that systems have been established to enable regular reports to be produced so that necessary steps can be taken to lessen these risks.
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Structure. 8ovemance and m4na8ement Legolstatus The Charity is a company Ilmlted by guarantee and as such, does not have a share tapltal. Every member undertakes to contribute such amounts as may be requlred (not exceedlng £10) to the company's assets If It should be wound up whilst he or she is a member, or withln one year after he or she ceases to be a member, for payment of the company's debts and liabilities contracted before he ceases to be a member, and of the costs, charges and expenses of winding Upi and for the adjustment of the rights of the contrlbutorles among themselves. Governlnq do¢ument Kendal Rugby Unlon Football Club Llmited is an Independent registered charlty 8overned by Its mernorandum and articles of assoclatlon dated 22 Aprll 2003 as amended by speclal resolutlon dated 17th March 2015. OrqanlsatlonalstnKture The Charity Trustees are all volunteers and are responsible for general control and management of the Charity. Regular meetlngs are held by Trustees and also by Team members to discu55 flnance, tralnlng and other relevant Issues. The trustees, who are also the dlrector5 for the purpose of company law, and who served durSn8 the year and up to the date of s18nature of the financial statement5 were,. Drs A Green Mr J Nlcholson MrA Perle Mr C I Wheatman Mr W Coxon Mr D Alrey Mr M Bowerbank Mr C Hayton MrsCG Park Mr Andrew Blenkharn Mr RJ Burrow Mrs J L Rlgg Ms F M Stanton (Reslgned l November 20231 (Appolnted l November 20231 (Appolnted l November 20231 (Appolnted l November 20231 IAppolnted l November 2023} Recruitment ond oppolntment of tru5tee5 Method adoptedfvy the recruitment qnd appolntment oAnew tnths New trustees are Inv6ted to stand for election by reference to their skills and experience and to the needs of the charlty. Candidates are then voted on by the charity's members at the Annual General Meeting IAGMI. If elected each trustee agrees to serve for a three year term after which they esther reslgn or hold themselves up for re-electlon. Trnstee Indurtlon and trolnlnq New Trustees are shown a copy of the Charlty's Articles of Association and advised on the policy. procedure and responsiblllties of the Charlty under the Charities Act.
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 The trustees, report was approved by the Board of Trustee5. Drs AGreen Trustee 17 October 2024
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KENDAL RUGBY UNION FOOTBALL CWB LIMITED I report to the trustees on my examlnatlon of the flnanclal statements of Kendal Rugby Union Football Club Limited (the harityl for the year ended 30 Aprll 2024. Respon$ibililies and basls of report As the trustees of the charity land also Its directors for the purposes of company lawl you are responslble for the preparatlon of the financial statements In accordance wlth the requirements of the Companies Art 2006 (the 2CK16 Act). Having satisfied myself that the financial Statements of the charlty are not required to be audlted under Part 16 of the 2006 Act and are ellglble for Independent examinatlon, I report In respect of my examlnatlon of the charity's financial statements carried out under sertlon 145 of the Charlties Act 2011 (the 2011 Act). In carrylng out my examination I have followed all the appllcable Dlreclions glven by the Charlty Commisslon under sectlon 14515llbl of the 2011 Act. Independent examlner'5 ststement I have cornpleted my examinatlon. I conflrm that no matter5 have come to my attention in connectlon wlth the examlnatlon Ivlng me cause to believe that In any materlal respect.. accountlng records were not kept In respect of the charity as requlred by section 386 of the 2006 Act; or the financlal ststements do not accord with those records,. or the financial statements do not comply with the accountlng requlrements of settlon 396 of thè 2006 Act other than any requirement that the accounts glve a true and fair vlew whlch Is not a matter consldered as part of an Independent examlnatlon, or the flnanclal statements have not been prepared in accordance wlth the methods and prlnciples of the Statement of Recommended Practl¢e for a¢¢ounting and reportln8 by charitles appllcable to ¢harities preparlng thelr accounts Sn accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republic of Ireland IFRS 1021. I have no conceTn5 and have come across no other matters In connectlon wlth the examlnatlon to whlch attention should be drawn In this report In order to enable a proper under5tandlng of the flnancial statements to be reached. lan Thompson FCA Salnt & Co Chartered Accountants The Old Police Ststlon Church Street Amble51de Curnbrla LA22 OBT
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 APRIL 2024 Unrestrl¢ted Unrestrlcted funds funds 8eneral deslgnated 2024 2024 Total UnrestrScttd Unrestrlcted funds funds general deslgnated 2023 2023 Totsl 2024 2023 Notes Income and endowments from: Donatlons and legacles Other trading actlvities Investment5 Other Income 6,440 17,500 22 250 6,440 17,500 34.689 250 1,600 17.5 1,097 250 1,600 17,500 30,163 250 34,667 29,066 Totsl Income 24,212 34,667 58,879 20,447 29,066 49,513 Expendlture on: Ralslng funds Charltable actlvltles 5,912 53,560 11,391 129.564 17,303 183,124 4,353 53,338 12.682 140.223 17,035 193,561 Totsl expendlture 59,472 140,955 200,427 57.691 152,905 210,596 Net gainslllossesl on investments 13 43,256 43,256 142.0861 142,0861 Net expend5ture 135,2601 163,0321 198.2921 137,2441 1165.9251 1203,1691 Transfers between funds 83,275 183,275} Net movement In funds io 48,015 1146,3071 198,2921 137,244} 1165.9251 1203,1691 Reconclllatlon of fund$: Fund balances at l May 2023 223,641 8,946,452 9,170.093 260,885 9,112.377 9,373,262 Fund balan¢e$ at JO Aprll 2024 271,656 8,800,145 9,071,801 223,641 8,946,452 9,170,093 The statement of financial activltles Intludes all gains and1055es recognlsed In the year. All Income and expendlture derive from continuing activities.
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED BALANCE SHEET ASAT30APRIL 2024 2024 202J Notes Flxed assets Tangible assets Investments 15 16 7.248.575 1,515.845 7,378.139 1,568.313 ,764,420 .946,452 Current assets Debtors Cash at bank and In hand 17 285.759 24.846 223,349 4,219 310,605 13,2241 227,568 13,9271 Credltors: amounts falllng due wlthln one year Net current assets 307,381 223,641 Total assets less current Ilabllltles 9,071,801 9,170,093 Net assets gx¢ludln8 penslon Ilablllty 9,071,801 9,170,093 The funds of the ¢harlty Unrestrlcted funds- general Unrestrlcted funds- deslgnated 271,656 8,800.145 223,641 8,946,452 19 9,071,801 9.170,093 The company is entltled to the exemptlon from the audlt requlrement contsined In sectlon 477 of the Companles Act 2006, for the year ended 30 April 2024. The dlrectors acknowledge thelr responslbilitles for complylng wlth the qUIrementS of the Companles Art 2006 wlth respect to accounting Tecords and the preparation of financlal statements. The members have not requlred the company to obtain an audlt of Its flnanclal statements for the year In questlon In accordance with sectlon 476. These flnancial Statements have been prepared in accordance with the provlsions appllcable to companies sublett to the small companles regime. The financial statements were approved by the trustees on 17 October 2024 Mrwcoxon Trustee Company registration number 04740154 (England and Wales)
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 Accountlng pollcles Charlty Informatlon Kendal Rugby Union Football Club Llmlted Is a prlvate company Ilmited by guarantee incorporated in England and Wales. The registered offlce is Mint Brldge, Shap Road, Kendal. Cumbrla, LA9 6NY. 1.1 Accountlng conventlon The flnanclal statements have been prepared In accordance wlth the charlty's18overning documentl, the Companies Act 2006. FRS 102 "The Flnanclal Reportln8 Standard appllcable In the UK and Republic of Ireland" I"FRS 102.1 and the Charitles SORP "Accounting and Reporting by Charltles.. Statement of Recommended Practlce appllcable to charltle5 preparing thelr accounts in accordance with the Financial Reporting standard appllcable in the UK and Republic of Ireland IFRS 1021" {effective l January 20191. The charity is a Public 8enefTt Entlty a5 deflned by FRS 102. The charlty has tsken advantage of the provlslons In the SORP for charltles not to prepare a Ststement of Cash Flows. The fbnanclal statements are prepared In sterlln81 whlch Is the functional currency of the charlty. Monetsry amounts In these flnanclal statements are rounded to the nearest £. The flnanclal statements have been prepared under the hlstorical cost conventlon, rnodlfled to Include the revaluatlon of freehold propertles and to Include Investment propertles and certaln financlal Instruments at fair vèlue. The princlpal accountlng poll¢les adopted are set out below. 1.2 Golng COnM At the time of approvln8 the flnanclal statements, the trustees have a reasonable expectation that the eharlty ha5 adequate resources to Continue In operatlonal exlstence for the foreseeable future. Thus the trustees contlnue to adopt the golng concern basls of accountlng In preparlng the financlal statements. 1.3 Ch4iltable funds Unrestricted funds are avallable for use at the discretlon of the trustees In furtherance of thelr charitable obJectives. Deslgnated funds are unrestricted funds earmarked by the trustees for partlcular future prolect or commltment. Restrleted funds are sublect to spÈclflc condltlons by donors or grantors as to how they may be used. The purposes and uses of the restrlcted fund5 are set out in the notes to the flnanclal statements. 1.4 Income Income is recognlsed when the charity is legally entitled to it after any performance condltions have been met, the amounts can be rnea5ud reliably, and It Is probable that income will be recelved. Income from donatlon5 or grants Is recognlsed when there15 evidence of entltlement to the gtft, recelpt Is probable and its amount can be measured reliably. Legacles are recognised on receipt or othen¥lse If the charity has been notlfled ol an impendlng distrlbutlon, the amount is known, and receipt is expected. If the amount is not known. the legacy Is treated as a contingent asset.
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Accountlng polkie5 Icontlnuedl Income from donated goods Is measured at the fair value of the goods unless this is Smpractical to measure reliably, In which case the value is derived from the cost to the donor or the estimated resale value. Donated facllltles and servlces are recognised in the accounts when received If the value can be reliably measured. No amounts are Included for the contrlbution of general volunteers. Income from contracts for the Supply of services Is recognised wlth the dellvery of the contracted servlce. This is classified as unrestricted funds unless there is a contractual requirement for It to be spent on a particular purpose and returned If unspent, In whl¢h case It may be regarded as restricted. 1.5 Expendlture Expenditure15 recognlsed on an accruals basis as a liablllty Is Incurred. Expenditure Includes any VAT which cannot be fully recovered, and Is classlfled under headings of the Statement of flnanclal activltles to which It relates: expenditure on ralslng fund5 Includes the costs of all fundralslng artlvlties, events, non-charltable trading activitles, and the sale of donated goods. expendlture on charltable actlvitles includes all costs incurred by a charity In undertakSn8 activltles that further Its charltable alms for the beneflt of Its beneflciarles. Includlng those support costs and costs relatlng to the governance of the charity apportloned to charlLible activltles, other expendlture includes all expendlture that Is nelther related to ralsing funds for the charlty nor part of Its expenditure on charltable actlvitles. All costs are allocated to expenditure categories reflectln8 the use of the resource. Dlrect costs attrlbutsble to a Single artivlty are allocated dlrectly to that actlvlty. Shared costs are apportloned between the actlvltles they contrlbute to on a reasonable. justSflable and consistent bas15. 1.6 Trnglble Il¥ed assets Tangible fixed assets are Initlally measured at cost and subsequently measured at cost or valuatlon, net of depreciatlon and any impairment losses. Depreclatlon Is retognlsed so a5 to wrlte off the cost or valuatlon of assets le55 their resldual values over their useful Ilves on the followln8 ba5e5: Freehold land and bulldln8S Fixtures, fittings and equlpment 2% stralght Ilne on building5 25% stralght line or 20% reducing balance Freehold land is not depreclated. The gain or loss arising on the dlsposal of an asset Ss determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised In the ststement of financial actlvltle5. 1.7 Fixed asset Investments Fixed asset investments are Initially measured at transaction prlce excluding transaction costs, and are subsequentlv measured at fair value at each reporting date. Changes in falr value are recognised In net income/{expenditurel for the year. Transaction costs are expensed as incurred. 10-
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Accountlng pollcles (Contlnuedl 1.8 Impalrment of fixed aets At each reporting end date, the charity reviews the carrying amounts of Its tan8lble assets to determlne whether there Is any indication that those assets have suffered an Impalrment loss. If any such Indlcatlon exlsts, the recoverable amount of the asset is estimated In order to determlne the extent of the Impalrrnent Ioss Ilf anyl. 1.9 Cash and cash equlvalents Cash and cash equivalents Indude cash In hand. deposlts held at call wlth banks, other short-tem) liquid Investments with original maturlties of three months or less, and bank overdrafts. 8ank overdrafts are shown wlthin borrowlngs In current liabllltles. 1.10 Flnanclal Instruments The charlty has elected to apply the provlsions of Section 11 'Baslc Financial Instruments, and Section 12 '0ther Flnancial Instruments Issues, of FRS 102 to all of its financlal instruments. Flnanclal Instruments are recognlsed In the charlty's balance sheet when the charlty becomes party to the contractual provlslons of the Snstrument. Financlal assets and Ilabilltles are offset, wlth the net amounts presented In the flnanclal ststements, when there Is legally enforceable rl8ht to set off the recognlsed amounts and there Is an Intentlon to settle on a net basls or to alISe the asset and settle the Ilablllty slmultaneouslv, aslcflnandal assets 8asic flnanclal assets, which Include debtors and cash and bank balances, are Inltlally measured at transactlon prlce Includlng transartlon c05t5 and are subsequently carried at amort15ed cost Using the effectlve interest method unless the arrangement con5tltute5 a flnanclng transactlon, where the transaction Is measured at the present value of the future receSpts dlscounted at a market rate of Interest. Flnancial a55et5 cla551fied 45 receivable wlthin one year are not amortised. Boslcfinonclolllobllltles Basic flnancial liabilitles. Includlng credltors and bank loans a Inltlally recognlsed at transactlon price unless the arrangement constltutes a financlng transactlon. where the debt Instrumentls measured at the present value of the future payments dlscounted at a market rate of Interest. Flnanclal Ilablllties classlfled as payable wlthln one year are not amortised. Debt instruments are subsequently carrled at amortlsed cost, uslng the effectlve Interest rate method. Trade creditor5 are obligations to pay for goods or servlces that have been acqulred in the ordinary course of operations from suppliers. Amounts payable are classlfled as current Ilabllltles if payment Is due within one year or less. If not, they are presented as non-current liabilitles. Tr3de credltors are recognlsed Initially at transaction prlce and subsequentlv measured at amortised cost using the effectlve Interest method. Derecognltlon oAflnancial liobilhles Financial Ilabilitles are dereco8nlsed when the charitvs contractual obligatlons expire or are discharged or cancelled. 1.11 Taxatlon The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable income or expenditure for the current and past periods. Current tax Is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enarted or substantively enacted at the reporting date. 11
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Accountlng pollcles Icontlnued) 1.12 Consolldation The charlty 15 not required to prepare consolidated accounts In accordance wlth the Charltles Act 2011, and has taken advantage of the optlon not to prepare consolldated financlal statements contained Section 398 of the Companles Act 2006 on the basls that the charlty and its subsidiary undertaking5 compr15e a small group. Crlikal accountlnz estlmates and Judgements In the applicatlon of the charlty's accountin8 pollcies. the trustees are requlred to make judgements. estlmates and assumptions about the carrylng amount of a55ets and liablllties that are not readlly apparent from other sources. The estlmates and as50clated a5sumptlons are based on h15torlcal experlence and other factors that are consldered to be relevant. Actual results may differ from these estimates. The estlmates and underlylng assumptlons are reviewed on an ongoing basis. Revislons to accountlng estlmates are recognlsed in the perlod In which the estlmate Is revised where the revislon affects only that perlod, or in the perlod of the revlslon and future perlods where the rev151on affects both current and future perlods. CrStltal Judgements Kendal Rugby lTradln8) Llmlted The judgement that the trustees have made that has a sl8nlflcant rlsk of causlng a material adlustment to the carrylng amount of assets In the next flnanclal year is wlth regard to debtors, speclfically loans to Kendal Rugby ITradSngl Limlted. The accounts have been prepared assumln8 that the outstanding capltal repayments and Interest due wlll be pald In the near future. Income from donatlons and leiacles Unrestrleted funds 2024 Unrestrlrted funds 2023 Oonatlons and gffts Grants receivable 6,440 loo 1,500 1,600 Grants recefvable for core activities Charltles Aid Foundation ICAFI Charlties Trust- volenteers grant 500 1,000 1,500 12-
KENDAL RUGBY UNION FOOTBALL CLU8 LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Income from other trAdln8 artlvltles Unrestrlcted funds 2024 Unrestrlrted funds 2023 Lease of property to Kendal Rugby (Trading) Llmited 17,500 17,500 Income from Investment$ Unrestrlcted Unrestrlcted funds funds general desl8nated 2024 2024 Total Unrestrlrted Unrestrfcted funds funds general deslgnated 2023 2023 Total 2024 2023 Interest recelvable Kendal Rugby (Trading) Ltd Investment portfollo dlvldends & Interest Interest receivable 1,091 1,091 34,667 34,667 22 29,066 29,066 22 22 34.667 34,689 1,097 29,066 30,163 Other Incorne Unrestrlcted funds 2024 Unrestrlcted funds 2023 Environment Agency rlver 8ua8in8 5tatlon 250 250 13-
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Expenditure on raislng funds Unrestrlcted Unrestricted funds funds general deslgnated 2024 2024 Totsl Unrestricted Unrestrirted funds funds general deslgnated 2023 2023 Totsl 2024 2023 Tradlng costs Clubhouse premises costs 5,912 5.912 4,353 4,353 Investment management 11,391 11,391 12,682 12,682 Total costs 5,912 11,391 17,303 4,353 12,682 17,035 Expendltuie on charltable actlvltles Provlsion of rugby facllities 2024 Property Total Provislon of rugby facilltles 2023 Property Total 2024 1024 2023 2023 Dlrect Costs Depreciation and impairment Contribution5 to Kendal Rugby (Trading} Ltd to cover rugby expenses 129,564 129,564 140,223 140,223 50,000 50,000 50,000 50,01)0 50,000 129,564 179,564 50,000 140,223 190,223 Share of support and governance costs (see note 9) Support 156 Governance 156 3,404 192 192 3,146 3,404 3,146 53,560 129,564 183,124 53,338 140,223 193,561 Analysis by fund Unrestricted funds- general Unrestritted funds- designated 53,560 53,560 53,338 53,338 129,564 129.564 140,223 140,223 53,560 129,564 183,124 53,338 140,223 193,561 14-
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Support costs allocated to activitles 2024 2023 Bank charBes Sundries Governance costs 108 48 144 48 3.146 3,404 3,S60 3,338 Analysed between: Provision of rugby facillties 3,560 3,338 io Net movement In funds 2024 2023 The net movement in funds is stated after charging/lcreditingl- Fees payable for the Independent examination of the charlty's flnanclal statement5 Depreclatlon of owned tangible fixed assets 3,228 129,564 2,986 140,223 li Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. No expenses have been received by any trustee for services provided to the charity. 12 Employees The average monthly number of employees durlng the year was.. 2024 Number 2023 Number Total There were no employees whose annual remuneration wa5 more than £60,000. Remuneratlon of key management personnel No remuneration of key management personnel wa5 paid during the reporting period. 15-
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 13 Galns and losses on Investments Unrestricted funds de51gnated 2024 Unrestrlcted funds deslgnated 2023 Galnslllosse51 arlslng on: Revaluation of Investments 43,256 142,0861 14 Taxwtlon The charlty Is exempt from taxatlon on its actlvltles because all Its Income Is applled for charltable purposes. 15 Tanglble fixed a55ets Freehold l•nd Hxlures, Nttin81 and bulldlnp and •qulpm¢nt Totsl C05t At l May 2023 7,686,647 868,739 8,555,386 At 30 Aprll 2024 7,686,647 868,739 8,555,386 Depreclatlon and Impalrment At l May 2023 Depreclation char8ed In the year 521,634 86,939 655,613 42,625 1,177,247 129,564 At 30 April 2024 608,573 698,238 1,306,811 Carrylng amount At 30 AprS12024 7,078,074 170,501 7,248,575 At 30 April 2023 7,165,013 213,126 7,378,139 All Investments shown above are held at valuation. All investments are held to be provide an investment return for the charltv. 16-
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 16 Flxed asset Investments Ustedcash In portfollo Investments Total Cost or Wdluatlon At l May 2023 Addltlons Valuatlon changes Changes In cash Dlsposals 1,487.434 971,773 53,997 80,879 1,568,313 971,773 53,997 171,4281 11,006,810) {71,4281 11,C>06,8101 At 30 Aprll 2024 1.506,394 9,451 1,515,845 Carrylng amount At 30 Aprll 2024 1,506,394 9,451 1,515.845 At 30 Aprll 2023 1,487,434 80,879 1.568.313 17 Debtors 2024 2023 Amounts fallln8 due wlthln one year: Trade debtors Amount5 owed by subsidiary undertaklngs Other debtOTS Prepayments and accrued Income 2,100 263,789 2,007 17,863 300 222,799 250 285,759 223,349 18 Credltors: amounts falllng due wlthln one year 2024 2023 Other taxation and 50cial 5ecurlty Accruals and deferred Income 861 3,066 3,224 3,224 3.927 17-
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 19 Unre$trlrted funds- desl8natsd These are unrestricted funds which are material to the tharity'5 actlvities. At l May 1023 Incomlng resouttes Resources expended TrdnsfersGalns and losse5 At 30 Aprll 2024 Deslgnated tangible fixed assets 7,378,139 {129,5641 35,725 7,284,300 Desl8nated Investment reserve 1,568,313 34,667 {11.3911 1119,0001 43,256 1,515,845 8,946.452 34,667 1140,9551 183,2751 43,256 8,800,145 Prevlous year. At l May 2022 Incomlng resourtt5 Resoums expended TranSfeGlIn$ •nd10sses At 30 Aprll 2023 Deslgnated tangible flxed assets Designated Investment reserve 7,518,362 1140,2231 7.378,139 1,594,015 29,066 112,6821 142.0861 1,568,313 9,112.377 29,066 1152,9051 {42,0861 8,946,452 The desl8nated tan8lble flxed a55ets fund represents the net book value of freehold property and fixtures, flttlngs and equlpment. The designated Investment reserve reflects the value of the Investments managed by Rathbone Investment Management Llmlted. During the reportlng perlod the followlng transfer5 between funds were rnade,. £83,275 was transferred from designated Investment reserve to the unrestrlcted 8eneral fund In respert of the contlnued financlal support of the trading sub51diary. £35,725 wa5 transferred from designated investment reserve to the deslgnated tangible red assets reserve in respect of the installation of two new boilers wlthin the premise. There were no materlal transfer5 recognlsed in the reportlng perlod ended 30 April 2023. 18-
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 20 Unrestrictsd funds The unrestrlcted funds of the charlty comprise the unexpended balances of donatlon5 and grants whlch are not sublect to specific condltlons by donors and grantors as to how they may be used. These Include designated funds which have been Set aside out of unrestricted funds by the trustees for speciflc purposes. At l May 2023 Incomlng resource$ Resource$ expended Transfers At 30 Aprll 2024 General funds 223,641 24,212 159,4721 83,275 271,656 Prevlous year: At l May 2022 In¢omlng resources Resour¢e$ expended Transfeys At 30 Aprll 2023 Genernl tunds 260.885 20.447 157,6911 223,641 21 Analysls of net assets between fund$ Unre5trlcEed lunds zeneral 2024 Unr¢strlrted lund$ de51gnatsd 2024 Total 2024 At ao Aprll 2024: Tanglble assets Investments Current assetsllllabllltlesl 7.248,575 1.515,845 35,725 7,248,575 1,515,845 307,381 271,656 271,656 8.8CKJ,145 9,071,801 Unrestrlrted funds general 2023 Unrestrlrted funds de51gnated 2023 Total 2023 At 30 Aprll 2023: Tangible assets Investments Current assetsllllabllltiesl 7.378.139 1.568,313 7,378,139 1,568,313 223,641 223,641 223,641 ,946,452 9,170,093 19-
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR EIVDED 30 APRIL 2024 22 Operatlng lease commitments Lessee At the reportlng end date the charity had outstanding commltments for future minlmum lease payments under non- cancellable operating leases, whlch fall due as follows: 2024 2023 Lessor The amounts reflert the lease between the Trustees of Kendal Rugby Unlon Football Club Llmited and Kendal Rugby ITradSngl Llmited for the lease of land and property at Mlnt Bridge for a term of seven years from 24 November 2017 to 23 November 2024. with rent payable at £I7,5c per year commencln8 on 16 March 2018. At the reportlng end date the charity had contrarted wlth tenants for the followlng minlmum lease payments,. 2024 2023 Wlthin one year Between two and flve years 9,853 17,500 9,853 9,853 27,353 23 Related party trnnsartlons -20-
KENDAL RUGBY UNION FOOTBALL CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30APRIL 2024 23 Related party tran5a¢tlons (Contlnued) Subsidlary Undertuklnqs The charity has one trading subsldlary undertaklng; Kendal Rugby ITradir¢gl Limited (Company Reglstratlon Number 095597261. The company 15 a private company Ilmlted by guarantee. The company is registered In England and Wales. The address of the registered office Is Mint 8rldge, Shap Road, Kendal. Cumbrla. LA9 6NY. The tradlng company's Articles of Assotlation state within Its objects that It Is to operate a social club and other commer¢lal activities to provlde funds to donate to the charlty. The charity also provldes direction to the trading company. Three of the current trustees of Kendal Rugby Union Football Club Llmlted (the "charlty'l, namely W Coxon, S Green, and A Perle are also dlrectors of Kendal Rugby (Trading) Limlted {the"tradln8 company"). The transactions between the charlty and the trndlng compary were as follow5: Under the lerms of a lease agreement dated 12 October 2018 the tradlng company leases the land and property at Mint Brldge from the charity for the sum of £17,500 per annum. wlth effect from 16 March 2018; the lease rent received for the year ended 30 April 2024 was £17,50012023.. £17,500). At 30 Aprll 2024 the trading company owed the charity £Nil for lease rent12023- £Nill. The lease also requlres that the tenant pays rates In respect of the property.. durlng the current year rates paid by the charlty amountlng to £1,359 were re-char8ed to the trading company vla the Inter- company loan account12023.. É2,1361. Furthermore, the charlty Is responslble for property Insurance and the tenant shall pay to the landlord on demand any relevant property Insurance: In the current year the charity pald £NII on behalf of the tradin8 company but none was demanded from the tradlng company 12023: charity paid £NII on behalf of the tradlng company but none was demanded from the tradlng company l. Durlng the year ended 30 April 2024 the charlty donated £50,000 to the trading company to cover rugby expenses 12023.. £50.0001. During the year ended 30 Aprll 2024 the loan5 to the trading cornpany from the charlty were reduced.. the total outstandlng at 30 Aprll 2024 shown in Debtors is £263.789 12023.. £222,799). Thls conslsts of workinB capital loans amountln8 to £263,789 {2023: £222,799) for which no interest15 charged. The Interest recelved on the loans to the tradlng company for the year was £Nil12023.. £1,091). The result5 for the subsidiary are as follows; Aggregate capital and reserves Proflt or loss for the year 1£353,8071 1£42,9581 {£310,8491 1£31,7711 24 Llmited by guarantee Kendal Rugby Union Football Club Limited is a company Ilmited by guarantee: each member's contribution not exceeding £10 on dissolution. 21