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2024-04-30-accounts

Registered number: 09612222 Charity number: 1162479

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers1
Trustees' Report 2 - 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Statement of Cash Flows 11
Notes to the Financial Statements 12 - 23

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 APRIL 2024

The Charitable Company was incorporated on 28 May 2015 and commenced activities on 1 November 2015.

Trustees L C Lindop, Trustee
R B Norden, Trustee
C S Tilley, Trustee
J Allanson, Trustee
M Coleman, Trustee
S Dunkley, Trustee
S Marriott, Trustee
R Smith, Trustee
Company registered
number 09612222
Charity registered
number 1162479
Registered office Silver Leys
Hadham Road
Bishop's Stortford
Hertfordshire
CM23 2QE
Independent Examiners Barrow LLP
Rae House
Dane Street
Bishop's Stortford
Hertfordshire
CM23 3BT
Bankers HSBC Bank plc
18 North Street
Bishop's Stortford
Hertfordshire
CM23 2LP
Solicitors Stanley Tee LLP
Tees House
95 London Road
Bishop's Stortford
Hertfordshire
CM23 3GW

1

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 30 APRIL 2024

The Trustees, who are also Directors of the Charity for the purposes of the Companies Act 2006 (collectively known as “the Board”), present their report with the financial statements of the Charity for the period of 1 May 2023 to 30 April 2024.

The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is a company limited by guarantee, governed by its Memorandum and Articles of Association.

Recruitment and appointment of new Trustees

The existing Board or other Club members can nominate all potential Trustees. The nominees are vetted by existing Trustees, having regard to the relevance of their experience to the work of the Charity and the management needs of the Charity. They also must satisfy HMRC’s fit and proper person test before being elected at the subsequent AGM. Board Members are only elected for a period of three years when they must resign but they can offer themselves reelection.

No new Trustees have been elected this year.

OrganisationaI structure

The day-to-day management of the Club has been delegated to the Club’s Operating Executive (COE), who meet on a two-monthly basis. The COE are overseen by the Board of Trustees, who meet at least once per calendar quarter.

The COE is concerned with the internal organisation and effective application of the Club's human, financial and operational resources. This body represents members of all sections of the Club, including representatives of senior players, both male and female, youth, both boys and girls, minis and finance. It is through members of that body that day-to-day decisions about which individuals and groups require support are made and the outcomes are monitored regularly.

The Board regularly considers the activities and responsibilities of the COE.

Major projects, such as facilities development, remain under the Board's direct supervision, who define, instigate conduct, and controls matters as part of their strategic responsibilities.

The Trustees are also responsible for the maintenance and upkeep of the Club’s facilities and Health and Safety although there are plans to transfer these to the COE.

The Club has a solely owned trading subsidiary (BSRFC Trading Limited), which manages the commercial activities of the clubhouse operations and the first playing squad. The results of the trading subsidiary are disclosed in note 14 of the financial statements.

2

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

TRUSTEES' REPORT(continued) FOR THE YEAR ENDED 30 APRIL 2024

Risk management.

The Trustees must identify and review the risks to which the charity is exposed and ensure appropriate controls are in place, to provide reasonable assurance against fraud and error. The Board has recently completed a review of these risks and a revised risk register has been syndicated and agreed by both the Trading Subsidiary and the COE. The review will now ensure that risk identification and management are fully embedded in the day-to-day operations.

OBJECTIVES AND ACTIVITIES

Objectives and aims.

The Charity's objectives are to promote community participation in healthy recreation by providing facilities and an inclusive environment for playing rugby and other sports or other leisure time occupations for people who have such needs, notwithstanding their age, gender, sexual orientation, ethnicity, infirmity or disablement, or social and economic circumstances, and to advance the education of children/young people, according to the law of Charity.

After the negative impact of the Covid-19 pandemic, we have seen additional players at all levels within the Club, including the women’s team, which has seen a resurgence this year. The key issue we have in senior men’s and, more recently, youth rugby is finding sufficient clubs to provide meaningful opposition regularly.

The numbers involved in the age groups of rugby from 6 to 18 have increased to their previous number prior to the epidemic.

The main activities are.

The strategy to achieve our objectives is:

3

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

TRUSTEES' REPORT(continued) FOR THE YEAR ENDED 30 APRIL 2024

This is the third year we have funded a Community Coach at Bishop's Stortford Rugby Club, who is responsible for delivering a high-quality coaching service within the local community, supporting teachers and coaches to create opportunities for young males and females. The aim has been to establish and introduce primary schools to tag/touch rugby and develop relationships in the local community to focus on growth and sustainability, retaining and improving participation levels across the game. This is broadening the game in the local schools, especially for girls.

Public benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commissioner's general guidance on public benefits when reviewing the Charity’s aims and objectives and in planning future activities.

The Trustees are satisfied that the Charity continues to meet the required public benefit test through its objectives and activities despite the difficulties brought about by the pandemic.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The 2023/24 season confirmed the position of our First fifteen for a seventh season in National League Rugby. We finished eleventh in National One, with our victory away at Cinderford in the last game of the season ensuring we stayed in National One.

Our Head Coach, Marcus Cattell, who came from our home-grown talent, managed the training/coaching last season. This has been a challenging task given that as many as eight regular first-teamers retired from rugby or moved away from the area at the start of last season when we had to assimilate the fresh players into our new first-team squad and maintain the standard to survive at level three rugby. This we achieved. The Blues have continued their success, reflecting our commitment to encouraging home-grown talent at all levels and the ‘One Club’ ethos. It has been encouraging to see an increasing number of younger players, mostly locally grown, play in our Blues and third team.

The men’s social teams have performed well and have more players than we have had in previous seasons. However, they have had difficulty finding sufficient fixtures this season, because other clubs in this area have not improved their

4

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015) (A Company Limited by Guarantee)

TRUSTEES' REPORT(continued) FOR THE YEAR ENDED 30 APRIL 2024

numbers in the way we have.

Our Women’s team has done well, finishing a very creditable second in division C3 to a strong Cambridge team and expanding numbers considerably.

The Club's thriving Mini and Youth boys’ and girls’ sections continued to thrive encouraged by the ever-willing army of volunteers, coaches, and first aiders.

We continue to run a large group of non-contact rugby players.

Our Youth/Mini Development programme continues to provide the basis of the ‘One Club’ ethos by seeking to:

These objectives are pursued by:

Working constantly to improve the quality of coaching available to all players. We have a Club Coaching Coordinator, whose main objective is to support and help our volunteer coaches to achieve our objectives.

FINANCIAL REVIEW

Principal funding source

During the year under review, the Charity has principally been funded by membership subscriptions and donations from members and the Club also minimized, where possible, expenditure on normal overheads. Through all this, the Charity produced a meaningful surplus of £10,000 at the end of the fiscal year.

At the same time, BSRFC Trading Ltd was funded mainly through sponsorship, where almost all sponsors were community-based and continued to support the Club through these challenging times. Matchday income, through lunches and bar receipts, has ensured reasonable profits were made. These profits are gift aided to the Charity, to ensure reasonable profitability and to maintain the activities of the Charity in 2023-23. The overall surplus generated by BSRFC Trading is analysed in Note 14 of the financial statements.

Reserves Policy

It is a policy objective of the Board to create sufficient reserves, to support the future development and enhancement of the Club and its facilities.

5

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015) (A Company Limited by Guarantee)

TRUSTEES' REPORT(continued) FOR THE YEAR ENDED 30 APRIL 2024

Major Project in 2023/24

We intended to continue fundraising for our main challenge, increasing the number and size of our changing rooms, driven by the needs of the growing Ladies and Girls Sections, as well as to accommodate the increased need for changing room space from existing activities on both Saturdays and Sundays. This has not stopped us from completing Phase 1 of the construction plans, having installed the foundations and a concrete base, improving the gas and water infrastructure and new foul and groundwater drainage.

The available grant opportunities from organisations, such as Hertfordshire County Council, Bishop’s Stortford Town Council, the RFU, Herts RFU and Sport England, were investigated and gratefully taken advantage of wherever possible.

The major initiative has been to sell, subject to planning permission, a small portion of land on the back fields between Dane O’ Coys Road and Pitch 4. Contract arrangements with the Developer have been agreed in anticipation of having to comply with Sport England conditions as a statutory consultee, which requires funds from the sale of the land to be held in an escrow account, held and managed by Tees, our Solicitors, and released on the production of stage completion certificates by the builder. Any overage will be paid as soon as it has been calculated and agreed.

We have re-costed Phase 2 to £750,000. This can be met with the initial sum payable by the Developer of £550,000, when planning permission is in place, and a grant of £150,000 provided by Bishop’s Stortford Town Council. The balance is to be funded directly from available Club funds.

Capital Expenditure in 2023/24

In 2023-24 we spent £23,000 on completing the wastewater project to the main clubhouse, which was scheduled as part of Phase 1 of the changing room project.

We spent £7,600 on completing the gas and water project and a further £19,000 on Phase 2 of the main project, mainly on professional fees and surveys, and £23,000 to R.A. Swann on the wastewater project.

We spent the following on improving our current facilities:

The path from the clubhouse alongside the marquee to the pitch-side was completed by a contractor from the Stortford North Consortium, at no expense to the Club.

6

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

TRUSTEES' REPORT(continued) FOR THE YEAR ENDED 30 APRIL 2024

Capital Expenditure in 2024/25

The plan for other capital expenditures next year is to:

Investment Policy and Objectives

The Board of Trustees has the power to invest the Club’s assets in any way they see fit.

Where possible, the Club’s funds are kept on short-term deposits and readily available on short-term notice. The interest is thus governed by the general interest rates available. The Trustees do not wish to invest the Club’s funds in any other markets.

This report has been prepared in accordance with the special provisions of Part I 5 of the Companies Act 2006 relating to small companies.

Approved by order of the Board of Trustees on 28[th] June 2024 and signed on its behalf by:

L C Lindop, Trustee

7

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 APRIL 2024

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015) (the 'Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 30 April 2024.

This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the Company (and 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 the Company's accounts 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

I have completed my examination I can 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.

Signed: Barrow LLP

Dated:

Barrow LLP Rae House Dane Street Bishop’s Stortford Hertfordshire CM23 3BT

8

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 APRIL 2024

Restricted Unrestricted
funds
funds
2024
2024
Note
£
£
INCOME FROM:
Donations and legacies
2
-
95,345
Charitable activities
5
-
116,800
Other trading activities
3
-
61,315
Investments
4
-
32,481

TOTAL INCOME
-
305,941
EXPENDITURE ON:
Charitable activities
6
-
275,097
TOTAL EXPENDITURE
-
275,097
NET INCOME/ (EXPENDITURE) BEFORE
OTHER RECOGNISED GAINS AND
LOSSES
-
30,844
NET MOVEMENT IN FUNDS
-
30,844
RECONCILIATION OF FUNDS:
Total funds brought forward
337,073
291,114
Transfer of funds in the year
-
-
TOTAL FUNDS CARRIED FORWARD
337,073
321,958		 Total
funds
2024
£
95,345
116,800
61,315
32,481
305,941
275,097
275,097
30,844
30,844
628,187
-
659,031		 Total
funds
2023
£
278,529
118,510
64,324
4,498
465,861
270,537
270,537
195,324
195,324
432,863
-
628,187

The notes on pages 12 to 23 form part of these financial statements.

9

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee) REGISTERED NUMBER: 09612222

BALANCE SHEET AS AT 30 APRIL 2024

FIXED ASSETS
Note
Tangible assets
13
Investments
14
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
16
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS:amounts falling due after
more than one year
17
NET ASSETS
CHARITY FUNDS
Restricted funds
19
Unrestricted funds
19
TOTAL FUNDS		 £
58,479
70,975
129,454
(134,859)		 2024
£
831,783
20,001
851,784
(5,404)
846,380
(187,349)
659,031
337,073
321,958
659,031		 £

19,295
115,934
135,229
(89,790)



 £

19,295
115,934
135,229
(89,790)



 2023
£
806,264
20,001
826,265
45,439
871,703
(243,516)
628,187
337,073
291,114
628,187









The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Trustees consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on ……………… and signed on their behalf by:

L C Lindop, Trustee

The notes on pages 12 to 23 form part of these financial statements.

10

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2024

Note
Cash flows from operating activities
Net cash provided by/(used in) operating activities
21
Cash flows from investing activities:
Dividends, interest and rents from investments

Purchase of investments
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities:
Repayments of borrowings
Net cash provided by financing activities
Change in cash and cash equivalents in the year

Cash and cash equivalents brought forward

Cash and cash equivalents carried forward
22		 2024
£
(68,609)
98,421
-
(74,769)
23,652
-
-
(44,959)
115,934
70,975		 2023
£
164,789
47,660
-
(322,415)
(274,755)
-
-
(109,966)
225,900
115,934

The notes on pages 12 to 23 form part of these financial statements.

11

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at mid-market value excluding dividends. The financial statements have been prepared in accordance with 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) issued on 16 July 2014 and updated by second edition issued in October 2019 and effective from 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.

The financial statements have been prepared to give a true and fair view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the 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).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Bishop's Stortford Rugby Football Club (2015) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Preparation of consolidated financial statements

The financial statements contain information about Bishop's Stortford Rugby Football Club (2015) as an individual Company and do not contain consolidated financial information as the parent of a group. The Company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

1.3 Company status

The Company is a company limited by guarantee, incorporated in England.. The Members of the Company are the Trustees named on page 1. In the event of the Company being wound up, the liability in respect of the guarantee is limited to £1 per Member of the Company. The Company's registered office is Silver Leys, Hadham Road, Bishop's Stortford, Hertfordshire, CM23 3BT.

The principal activity of the Company is to promote community participation in healthy recreation by providing facilities and an inclusive environment for playing rugby and other sports.

1.4 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors

12

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

1. ACCOUNTING POLICIES (continued)

or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.5 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Donated services or facilities are recognised when the Company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and the Trustees' Report gives more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Company which is the amount the Company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.6 Expenditure

Charitable activities and governance costs are costs incurred on the Company’s operations, including support costs and costs relating to the governance of the Company apportioned to charitable activities.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

Support costs are those costs incurred directly in support of expenditure on the objects of the Company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the Company and compliance with constitutional and statutory requirements.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

13

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

1. ACCOUNTING POLICIES (continued)

1.7 Tangible fixed assets and depreciation

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities incorporating Income and Expenditure Account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property Not depreciated Leasehold property 2% - 10% straight line Plant and machinery 10% - 20% straight line Floodlights 10% - 20% straight line

1.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gains/(losses) on investments' in the Statement of Financial Activities Incorporating Income and Expenditure Account.

1.9 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the bank.

1.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.11 Cash at Bank and in hand

Cash at bank and 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.

1.12 Creditors and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

14

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

1. ACCOUNTING POLICIES (continued)

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.13 Financial instruments

The Company 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.

2. INCOME FROM DONATIONS AND LEGACIES

Restricted
funds
2024
£
Donations
-
__
Total 2023
278,529
3.
ACTIVITIES FOR GENERATING FUNDS
Restricted
funds
2024
£
Rental activities
-
Fund raising activities
-
License fee
-

Total 2024
-
_
Total 2023
-
4.
INVESTMENT INCOME
Restricted
funds
2023
£
Donations from subsidiaries
-
Interest received
-
Total 2024
-
_____
Total 2023
-		 Unrestricted
funds
2024
£
95,345
__
-

Unrestricted
funds
2024
£
7,500
8,815
45,000
61,315
_
64,324
Unrestricted
funds
2024
£
32,030
451
32,481
____
4,498

Total
funds
2024
£
95,345
_
278,529
Total
funds
2024
£
7,500
8,815
45,000
61,315
__
64,324
Total
funds
2024
£
32,030
451
32,481
_____
4,498

Total
funds
2023
£
278,529

Total
funds
2023
£
12,000
7,324
45,000
64,324
Total
funds
2023
£
4,129
369
4,498




15

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

5. INCOME FROM CHARITABLE ACTIVITIES

Restricted
Unrestricted
funds
funds
2024
2024
£
£
Subscriptions
-
116,583
Playing income
-
217
Total 2024
-
116,800
__
____
Total 2023
-
118,510		 Total
funds
2024
£
116,583
217
116,800
_
118,510		 Total
funds
2023
£
118,170
340
118,510

6. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Club operations

Total 2023		 Direct
Costs
2024
£
41,426
52,062		 Support
Costs
2024
£
233,670
218,475		 Total
2024
£
275,097
270,537		 Total
2023
£
270,537

7. NET INCOME

Net income is stated after charging depreciation on fixed assets of £49,250 (2023 - £55,455).

8. DIRECT COSTS

Colts – travel
Training courses
Playing events
Medical and first aid
Teas
Referee expenses
Playing equipment
Coaching expenses
Total
2024
£
-
218
2,258
1,454
23,540
729
6,226
7,000

41,426		 2023
£
-
1,700
2,521
1,779
24,296
1,220
13,346
7,200
52,062

16

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

9. SUPPORT COSTS

Rent and rates
Light and heat
Insurance
Clubhouse expenses
Pitch maintenance
Admin and stationery
General expenses
Finance charges
Professional fees
Depreciation
Other expenses
Movement in deferred income
Total
 2024
£
12,223
48,015
5,070
92,125
61,581
4,402
2,103
4,232
4,313
49,250
6,523
(56,167)
233,670		 2023
£
11,299
26,773
4,698
73,479
66,127
1,673
815
4,053
5,809
55,455
9,544
(41,250)
218,475

For the year 2024 and 2023 all the above expenditure was related to unrestricted funds.

10. INDEPENDENT EXAMINERS' REMUNERATION

Fees payable to the Company's Independent Examiner for the
independent examination of the Company's annual accounts		 2024
£
2,500		 2023
£
2,325

11. STAFF COSTS

The Company has no employees other than the Trustees, who did not receive any remuneration (2023 - £NIL).

12. TRUSTEES' REMUNERATION, BENEFITS AND EXPENSES

There were no Trustees' remuneration or other benefits for the year ended 30 April 2024 (2023 - £NIL).

There were no Trustees' expenses paid for the year ended 30 April 2024 (2023 - £NIL).

17

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

13. TANGIBLE FIXED ASSETS

Cost
At 1 May 2023
Additions
Disposals
At 30 April 2024
Depreciation
At 1 May 2023
Charge for the year
Disposals
At 30 April 2024
Net book value
At 30 April 2024
At 30 April 2023		 Freehold
Leasehold
Plant &
property
property
machinery
£
£
£
19,332
1,196,506
275,303
-
56,416 -
-
- -		 Floodlights
Total
£
£
93,548
1,584,689
18,353
74,769
- -
19,332
1,252,922
275,303		 111,901
1,659,458
-
439,254
245,623
-
38,887
8,155
-
-
-		 93,548
778,425
2,207
49,250
-
-
-
478,141
253,779		 95,755
827,675
19,332
774,781
21,524		 16,146
831,783
19,332
757,252
29,680		 -
806,264

Included in land and buildings is freehold land at valuation of £19,332 (cost £19,332) which is not depreciated.

18

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

14. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Shares in
group
undertakings
Market value £
At 1 May 2023 20,001
Additions in the year ______
At 30 April 2024 20,001
Subsidiary undertakings
The following were subsidiary undertakings of the company:
Name Holding
BSRFC Trading Ltd 100%
The aggregate of the share capital and reserves as at 30 April 2024 and of the profit or loss for the year
ended on that date for the subsidiary undertakings were as follows:
Aggregate of
Name share capital and
reserves		 Profit/(loss)
£ £
BSRFC Trading Ltd (reg. no. 09514212) 24,119 4.118
The following is a summary of the financial performance of the above subsidiary for the year ended 30
April 2024.
Profit and loss account for the year ended 30 April 2024 £
Turnover 730,054
Other income -
Costs (725,936)
Profit 4,118
Balance sheet as at 30 April 2024
Total current assets 158,539
Total current liabilities 134,420

19

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

15. DEBTORS

Trade debtors
Amounts owed by group undertakings
Other debtors
16.
CREDITORS: Amounts falling due within one year
Other loans
Trade creditors
Other creditors
Accruals and deferred income
17.
CREDITORS: Amounts falling due after more than one year
Accruals and deferred income

18. RELATED PARTY TRANSACTIONS

During the year the Company received a donation of £32,030 (2023 - £4,129) by way of a dividend from and charged a license fee of £45,000 (2023 - £45,000) to BSRFC Trading Limited, a wholly owned subsidiary of the Company.

The amount due from BSRFC Trading Limited at the year-end was £10,000 (2023 - £4,201).

During the year the Company received unrestricted funds of £65,931 from Friends of BSRFC Ltd, a wholly owned subsidiary of the Company.

20

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

19. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Balance at 1
May 2023
£
Unrestricted funds
Other general funds
291,114
Restricted funds
Other restricted funds
337,073

Transfer in year
-
337,073
Total of funds
628,187
STATEMENT OF FUNDS - PRIOR YEAR
Balance at 1
May 2022
£
Unrestricted funds
Other general funds
286,312
Restricted funds
Other restricted funds
247,231

Transfer in year
(100,680)
146,551

Total of funds
432,863
 Income
£
305,941
-
-
-
305,941
Income
£
275,339
190,522
______-
190,522
465,861		 Income
£
305,941		 Resources
Balance at
30 April

expended
2024

£
£
(275,097)
321,958

-
337,073

-
-

-
-
(275,097)
659,031
Resources
Balance at
30 April
expended
2023
£
£
(270,537)
291,114
-
337,073
-
-
-
337,073
(270,537)
628,187
-
-
-
305,941

21

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

20. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Restricted
Unrestricted
funds
funds
2024
2024
£
£
Tangible fixed assets
-
831,783
Fixed asset investments
-
20,001
Current assets
-
129,454
Creditors due within one year
-
(134,859)
Creditors due in more than one year
-
(187,349)
- 659,031		 Total
funds
2024
£
831,783
20,001
129,454
(134,859)
(187,349)
659,031

ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

Restricted
Unrestricted
funds
funds
2023
2023
£
£
Tangible fixed assets
298,613
507,651
Fixed asset investments
-
20,001
Current assets
38,460 96,769
Creditors due within one year
-
(89,790)
Creditors due in more than one year
-
(243,516)
337,073 291,114		 Total
funds
2023
£
806,264
20,001
135,229
(89,790)
(243,516)
628,187

21. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the year (as per Statement of Financial Activities)
Adjustment for:
Depreciation
Prior year bank posting
Dividends, interest and rents from investments

(lncrease)/decrease in debtors

Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities		 2024
£
30,844
49,250
-
(98,421)
(39,184)
(11,098)
(68,609)		 2023
£
195,324
55,455
-
(47,660)
18,677
(57,007)
164,789

22

BISHOP'S STORTFORD RUGBY FOOTBALL CLUB (2015)

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

22. ANALYSIS OF CASH AND CASH EQUIVALENTS

ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
Total		 2024
£
70,975
70,975		 2023
£
115,934
115,934

23