THE QUEEN'S CLUB FOUNDATION Limited by Guarantee Trustees, Report and Unaudited Financial Statements for the year ended 30 September 2022 Registered Charity Number 1164144 Registered Company Number 09449213
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 INDEX Page Charlty Information R8POrt of the Trustees Independent examiner's report Statement of flnanclal activities Balance shèet Accounting policies 10 Note8 to the flnanGial statements 12
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 CHARITY INFORMATION Charlty name The Queen's Club Foundation Trustees Tina Smith Ichair from 15 November 20221 Amanda Sater Irelired and Chair lo 15 November 20221 Christian Berchem Iretired 30 April 20231 Will Morse Vanessa Neill Deane Pennick Lorraine Spencer Irelired 5 October 20211 Prlncipal and reglstered offlce The Queen's Club Palliser Road London W149EQ Reglstered Charlly number 1164144 Reglstered company number 09449213 Company secretary Parthviraj Dhanoa Treasurer Rachel Darbon Interim Operallons Manager Kate Mauricl Independent éxamlner Geoffrey Frost BSclHonsl FCA Blue Spire Lirnited Cawley Priory South Pallanl Chichester Wesl Sussex P019 ISY Bankers RBS Bank 3rd Floor 5-10 Great Tower Street London EG3R 5DJ Page 1
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 REPORT OF THE TRUSTEES The Truslees have pleasure In preBenling their annual report. incorpoialing the dire¢tors' report, lor the purposes ol the Charities Act 2011 and Sections 415 10 419 of the Companies Act 2006, logclher with the accounts lor the yÈar ended 30 September 2022. The Trusleos have adopted the provisions ol the Statement c>f Recommcndod Practice (SORPI 'Accounling and Reporting by Charities" {FRS 1021 in preparing the annu81 report and financial statements of the Charily. STRUCTURE GOVERNANCE AND MANAGEMENT The Queen's Club Foundation is a charitable company, incorporated on 19 February 2015 Ireglslered eompany number 094492131 governed by a Memorandum of AssoGialion and regislored as a eharily 28 OGlober 2015 (registered chaiily nLJmb8r 11641441. The Foundation is the Official Charrty of The Queen's Club and is supported by The Queen's Club Board. staff and Members. The Board, in pursuit ol ils objectives is pleased with the progress il has made. The Trusl8es Ilisled on page 11 are Trustees ol the chilY and Members & Directors of the Company. Trustees are appointed by an ordinary resolution of the membttr TrLJslees ol the Charity and as sel out in the Articles ol Association. When considering new Trust&es, the Board has regard to the requirement lor any specialist skllls, lor example past experience in organising charitable events and fundraising skill sel, as well as past experience in serving similar ¢harilies. New Trustees undergo a brief on: their legal obligations under ¢harily and company law, the Charity Conimission guidance Dn public benefit. and inform them of Ihe conlent and access to the Memorandum and Articles ol Association. the commillge and d8clsion-making processes, the busin6ss pian and recenl financial performance ot the Charity. OBJECTIVES AND ACTIVITIES The main oblocls of Ihe Gharily, as dolined In thè Govèrning Documents, are.. For the public ben&lil the promotion ofcommunfflyparticipalion, especiallyamong childr8n andyoung people, in healthy recreation in particular in the sports of lawrp lerFnis, real rennis, squash and rackets flhe Sports) and 10 assist in the development of the skills ol those playing th8 Sports ffn such ways as are exclusively charitable according to the laws ol England and Wales as the Trustees think fit, inGluding bul not liinilsd to, by.. Y. Providing grants to other charities Ihatpromol& community partieipation in the sporls.. and 2. Providing grants andolherfinancialassislance to orforthe benelil olchildrpn andyoungpeople In need olstsch assistan, to allow Ihem to P8rtlGipate in one or more of the Sports In determining the activities lo be undertaken by the Charity in furtherance of these objects, the Trustees have given regard to the Charity Commission's guidance on public benefit. The QCF safeguarding policy has been plac&d on the QCF wcbsile and grantees are informed ol the policy. The Foundation requires that all organisalions that receivo grants havo a safeguarding policy. This year we moved the locus ofThe Queen's Club Foundation more towards the promotion ofcommunity participation through delivery ol coach-led sessions lor children rather than through providing grants to individuals and organisalions. We took this decision in order to maxirllise our impact locally and lo ensure we made a real difference lo people's lives through sport. ACHIEVEMENTS AND PERFORMANCE Our tennis and squash Gommunily Clubs have developed across this year a hugely important role in the local cornmunily and we noticed a surge in domand lor our Gourses across both sports. The Queen's Club Foundation Tennis Community Club Local Park Venues We re-launched our Community Tennis Clut> in September 2021, delivering Iree tennis coaching al a local paik sile in Bishop's Park, Fulham. Over the year. we delivered free tennis lo 157 children at this venue. We developed a pathway for these childr&n lo continue lo access tennis in their IDcal community by iniroducing them to subsidised LTA Youth Start courses al local park venues. which gave the children the necessary equipment to be able ID continu8 the sport. Page 2
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAH ENDED 30 SEPTEMBER 2022 REPORT OF THE TRUSTEES We successfully expanded our Community Tennis Club lo a second sile. Brook Green, lo enable children from another area ol the Borough lo access coaching. We delivered free tennis to 51 children al this venue from April onwards. "Our local tennis club does not offer an "affordable Optn. lo play tennis. H&ving lo explain lo your child that you are unable lo linancially commit lo them allending lennis lessons is heartbreaking for them and us. I would like lo say a massive thank you to The QCF for teaching my daughter and Ihe other students. As a parent. we want our children lo be well-rounded in all things, especially sports. This inlroduclory programme is Ihe perfect starting point foryoung non-lennis players. This programme is engaging and so fun formy daughlerand she has learned so much. Thank you" Disability Sessions We launched our first disability Community Tennis Club with a link lo a local SEND school, Parayhouse School al Bishop's Park from April onwards. This is a special educational needs school lor young people aged 8-16 years with speech, language and commLJnication diflicullies. Several of the children also have physical disabilities. Our Community Glub coaches involved the staff from the school in the sessions so that not only did the children benefit, bul the staff l&arned skills ol how lo continue to deliver tennis lo the children. Inspirational Communlty Festivals at The Queen s Club We held 3 community tennis leslivals this year in the Junior Centre at The Queen's Club. Children and the parents from our Community Club programme were invited into The Club lor a lun afternoon ol tennis activities with our community club coaches. During these ltrslivals we also gave the parents a talk on how lo continue their childrens, tennis journeys in ways which are achievable. even lor low income families. Al our Summer leslival we were SUPPDrted by a team 016 p&opl6 from Goldman Sachs who volunteered as part of the company's ESG programme. Al these festivals, we noticed a real community feel as children and parents who knew each other from their courses came together several times al this inspirational venue. 11 was clear they w6re proud lo be part ol somothing special. The Queen s Club Foundatlon Squash Community Club Our Community Squash Club continues lo thrive and we nurtured our relationships with 4 local schools who came each week lo re1ve coaching from The Queen's Club Squash coaches. The programme ran from September 21 to April 2022. In lolal we delivered lo 115 children. Of those, 65Yo were from a diverse ethnic background, 56V& were girls and 47 /0 were in receipt ol Free School Meals. We partnered with charity Squash Squared lo help make improvements lo our squash outreach project. Squash Squared helped us to develop and manage OLJr school relationships as well as assisting us to maximise our impact data. "Participating in squash has boosledthe confidence of all th8 pupils who lookpartandithas buillfriendships amongst the children who would nol necessary speak to each otherorplay logetherin school" Outreach days In the Community We ran 2 tennis Schools Games competitions in June al Bishop's Park together with Hammersmilh & Fulham Borough CDuncil. Over 2 days, 128 childr&n look part competing against teams from other schools. We also ulilised some local pupils from a secondary school lo assist as scorers at this event. The Lawn Tennis Association ILTAI have ollered us funding us lo enable us lo provide formal Leaders qualifications lo these pupils al this stale school in Hammersmilh Isacred Heart High School), thus growing th& local body ol volunteers and enabling the teenagers lo gel involved locally in helping with 18nnis. Page 3
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 REPORT OF THE TRUSTEES One ol our most successful OLJlreach days was our Ukrainian Flag day tennis event lor local refugees and wider mernbers ol the local community that look place in August al Bishop's Park. The local Borough Council, in conjun¢lion with the LTA invited us lo pul this on. We organised and delivered Ihe day, which was a huge success and which ran alongside a community event celebrating Ukrainian culture. We look a team ol Community Club coaches and Queens Club sports Leaders lo assist al the event. Many ol the children allending had arrived very recently from Ukraine and il was quite an emoliDnal event lor many ol them and their parents. All received an afternoon ot free tennis coaching. We used rackets donated by members of The Queen's Club for this event. Local Authorlty Nominations The Queen's Club Foundation received 2 award nominations in the Hammersmilh & Fulham Sports Community Sports Awards for 2022. Firstly for°A4osl engaging sportsprojecl of Ihe Yearf- lor our Tennis Community Club and secondly our Head Coach, Kale Maurici was nominated for°8esl Community Coach of the Yearf,. We were proud lo have been nominated lor these local sporting awards which recognised sporting providers within the Borough who had made a real impact on community sporl. Activ8tlon around the Cinch Champlonshlps in June (professlon8lA TP Tour Event) Children Irorn the local tennis Comfflunity Club participated in an on-court clinic during the cinch Championships qualifying weekend at The Queen's Club with Jack Draper. This was filmed by the LTA and by ITV and the r&port, which specifically mentioned The Queen's Club Foundation. was broadcast both on ITV News and ITV London News. One ol our children from the Community Club did the coin loss on Centre Court on the Tuesday and a second child, from our Special Educational Needs Club, was interviewed on Court on the Saturday. The LTA were delighted with our involvement. The Tournament Director, who gave one of the Community Club children a'behind the scenes lour of the event, also expressed he would like to involve even more children from The Queen's Club Foundation at the event next year. Our Interim Operations Manager, Kale Maurici, was interviewed twice on Centre Court, first lo talk about our Community Club and second lo talk about how The Queen's Club Foundation supports those with disabilities through tennis. This en8bled The Queen's Club Foundation lo raise ils profil& al the tOLirnamenl, both amongst members ol The Club and the public more generally. Grant Funding We decided lo close our open grant funding rounds from January 2022 while we consolidated our fundraising activities and developed a sustainable fundraising strategy. During this period we focused instead on developing our Community Clubs. Our grant funding application rounds remain closed al present. In terms of impact ol the Charity, we felt that greater impact could be achieved currently by delivering free tennis and squash within the local community than by making a number of grants lo widespread individuals and organisalions. Indlvidual Granl Funding We continued throughout tho year lo process the existing grants awarded in the year endlng 2021 10 supported individual talented players. Some of these enabled them lo compete in their first Junior ITF'S including, amongst others. one female junior player who reached the finals ol a Junior ITF in Mexico and has since gone on lo app6ar al the Junior Championships h8ld al Wimbledon. Another grantee. narrowly lost his junior douhles match al Wimbledon in 2022 bul had excellent performances in both singles and doubles and went Dnlo be selected lo represent Great Britain in Slovakia. We also made a small grant lo the Real Tennis and Rackets Association. Organlsatlonal Grant Funding We continued lo process grants already awarded within the year ending September 2021 to organisallons lor use between October 2021 and Seplemb&r 2022, including amongst olhers. disability tennis organisalions and childrens. squash projects. A number ol organisalions were unable lo complete the activities lor which Ih&y applied lor the grant and some completed them bul with an underspend. We extended the completion lor all ol tho grants lo lacililale their Page 4
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 REPORT OF THE TRUSTEES use bul al the closo ol the financial year. sorne ol the mon6y sel aside lor these grants remained unawarded leaving a credit balance of £8.000. Fundraising We roviewed our fundraising and decided lo locus on one major fundraising evelll towards the end 012022. We were grateful lo members of The Queen's Club for supporting us through one -oll and regular donations. We ar& also enormously grateful for a significant legacy payment from a long-standing member ol The Queen's Club. We were also supported by significant donations from Gharilable Trusts and Farnily Foundations. We ran a successful small fundraising event, The Queen's Clijb Cenlre Court Ballot, which raised awareness within The Queen's Club of The Queen's Club Foundation and also some income. We are aayS grateful lo The Queen's Club for allowing us lo run this event as a fundraiser for The Queen's Club Foundation. During this period, we reviewed our working relationship with The Queen's Club and spent a significant amount of lime improving communi¢alion of our strategy and impact lo The Queen's Club Board. Marketing We foGused on further developing our so¢i81 media presence and on refreshing the brand of The Queen's Club Foundation during this period. With the curnbersome nature of the current website and necessity lo engage external paid support to make changes, we decided not lo develop our current website further bul rather lo proceed with the setup ol a new more modern website that will be easier lo rnanage in lulure and be more engaging and functional lor the user. We also continued lo look al ways that the branding surrounding all ot our Community Club activities was more consislenl so that The Queen's Club Foundation started to become more recognised locally and within The Queen's Club. In general, the year has been a successful one. We were able to refocus The Queen's Club Foundation, progressing with Iruslee recruilmenl, focusing our fundraising ellorls and ensuring that we can measure and rnaximisè our impact. We are hugely grateful to all those who have donated and supported The Queen's Club Foundation in this key year of development. FINANCIAL REVIEW Summar Oct 2020-Sept 2021 Oct 2021-Sept 2022 INCOME £129,769 £55,265 EXPENDITURE £73,857 £66,273 NET INCOMEI{EXPENDITUREI £55,912 1£11.0081 Al the balance sheet dale the Charity's total funds amounted lo £143,102 with reslri¢led funds, see note 12, totalling £52,852 and free reserves of £90,25012021.' £88,722). PLANS FOR FUTURE PERIODS We have nearly completed our Trustee recruitment process and are looking forward lo weleoming new TrLJslees lo the board al the conclusion ol tlS process which will widen the skills base ol our board. We have reviewed Trustee terms and will be applying to the Charity Commission to reduce these lo 3 years from 5 years. Our strategy lor the year ending September 2Ck23 is likely lo focLJS very much on community. We intend to consolidate what w& already offer within the local community in terms of improving lives through racket sports and also to build on those foundations. We would like to increas6 the number ol local venues whère we deliver and deliver lo more minority groups al those venues. We are also looking al ways in which Padel can be part of what we offer. We will Continue lo develop our Community Clubs as inclusive sessions whero everyone is welcome, whatever Ihelr background orcircumslances and also to promote racket sporls to all. Page 5
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEhA8ER 2022 REPORT OF THE TRUSTEES We will build on the new partnerships we made Ihis ytrar with local stakeholders and commercial partners lo dwelop our volunloer base to enable us lo deliv6r more whilst not exceeding our resources. We are also 8xciled lo work more closely with other tennis and squash chari110s to share knowledge and bAsl practice so that we may achieve our goals. We will conlinue to look at a number ol club based inilialives to devolop more suslainBble fundraising. Examples of these include 'opl in process when membership subscriptions go out, and also a 'Friends of QCF. Scheme lo reward high level and regular donors. Wo recognise that financial support from members needs lo be a key locus ol The Queen's Club Foundation and we wll continue to raise the profile of The Queen's Club Foundation with membèrs at The Que&n's Club. STATEMENT OF TRUSTEES. RESPONSIBILITIES Tho Trustees (who are also directors ot The Queen's Club Foundation for the purposes of company lawl are lesponsible lor preparing the Rcport of the Trustees, and the financial st8tements in accordance with applicable law and United Kingdom AccoLJnting Standards Iuniled Kingdom Gonerally Accepted Accounting Prath'cel. Company law Fequires the Trusl8es lo prepare tinancial slatèmenls lor each financial year, which give a true and lair view ol the slate ol allairs ol the charitablts company and of the incoming rosources and application of resources, including the income and expenditure, ol the charitable company lor that period. In preparing these financial slalemenls, the Trustees ara rtrquired lo.. select suitable accounting pollcles and then apY them ¢onsislon15y', observe th6 molhods and principleg in the Charities SORP., make jijdgements and eslimales Ihal are reasonablo and prLKlenl', slate whether applicable UK Accounting Standards have been followed, subject lo any material departures disclosed and explained in the financial slal&rnenls' prepare the financial statements on the going concern basis unless il is inappropriate to presume that the eharilable company will continue in operation. Th8 TrLJslee8 are re4ionsible for keeping adequale accounting records that disclose with reasonable aceuracy al any lime the financial position ol tho charitable company and enable them lo ensure that the linanclal slalemenls comply with the Companies Act 2006. They are also iesponsible for safeguarding the assets ol the charitable company and hence lor taking reasonable steps for the prevention and detection ol fraud and other irreoularilies. In so Éar as the Trustees are awar8'. there is no relevant information of which the ¢harilable company's examiner is unaware., and the Trtjstees have taken all steps that they ought to have taken lo make themselves aware ol any relevant information and lo establish that the examlner Is aware ol that information. APPOINTMENT OF INDEPENDENT EXAMINER During Ihc yoar under review Geollrey Frost of Blue Spire Limited contlnued as independent examiner lo the Charity. Geollrey Frost has expressed his willingness lo continue in the coming year and a proposal to appoint him will bè PLJt forward al the AGM of (he Charity. These accounts have been prepared in accordance with the provisions of the Companies Acl 2006 applicable to companies SLJbject lo the small Cornpanies regime. Approved by the Truslges and signed on their behalf. Tlna Smith, Chair Trustee, The Queen's Club Foundation Dal& /0 Q02S Page 6
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 INDEPENDENT EXAMINER'S REPORT Independant Examiner's Report to the Trustees of The Queèn's Club Foundatlon l ¥eporl lo the Charity Trustees on my examination ol the accounts of the company lor the year Pnded 30 September 2022 which are sel out on pages 8 10 18. Responslbllllles and basis of rèport As tho Charity Trustees ol the company land also ils dlrectors tor tho purposes ol Gompany lawl you are responsible for the preparation ofthe accounts In accordance with the requiiemenls of th8 Companies Act 20061'lhe 2006 Ad'l. Having satisfied myself that the accounts ol the company are not required lo be audited und6r Part 16 01 the 2006 AGI and are eligible for independent examination, I report in spect of my examination of your company's accounts as carried out under section 145 of the Charities Act 20111.lhe 2011 A¢t'l. In carrying out my examination I have followed the Directions given by the Gharity Commission under section 14515llbl of the 2011 Act. Independent examlnels statement I have completed my examination. I confirm Ihal no matters have come lo my attention in connection with the examination giving me cause lo believe that in any malerial respect.. accounting records were not kept in respect ol the company as required by section 386 01 the 2006 Act., or the accounts do not accord with those records., or the accounts do not coThply with the ac¢ounlino requirements ol se¢lion 396 of the 2006 Act othor than any reqltiremenl that the accounts gwe a'true and fair view, which is not a maller¢onsidered as parl ol an independent examination., or the accounts have nol been prepared in accordance with Ihe methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities applicable to chaiilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ ol Ireland IFRS 1021. I have no concerns and have wme across no olher mallers in connection with the examination lo which attention should be drawn in thls rewrt Sn order lo enable a proper understanding ol the accounts to be reached. Geollrey Frost BSclHonsl FCA Bluo Spire Limited Cawley Priory South Pallant Chichester W6St Sussex P019 1SY Dale 18 May 2023 Page 7
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEThAENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI 2022 Total Funds 2024 Total Funds Unrestricted Restricted Funds Fuiid5 Note INCOME FROM: Donations Other income Bank interest Other- Coronavirus Job Retention Scheme 48,849 8,239 177 48.849 6,239 177 107,963 14,211 60 7.535 Total 55,265 55,265 129,769 EXPENDITURE ON: Raising funds Charitabl& actThiilies dire¢l costs Charitable a¢tivities- support costs 2,052 14.442) 56,127 2.052 8,094 56,127 4,528 28,917 40,414 12.536 Total 53,737 12,536 66,273 73,857 Net Incomellexpenditurel and movement in funds 1,528 {12,5361 {11,0081 55.912 RECONCILIATION OF FUNDS Total funds brought forward 11 88,722 65,388 154.110 98,198 Total funds carried fotward 11 90,250 52,852 143,102 154.110 None of the Charity's other activities were acquired or discontinued during the above financial yeaT. The Charity has no recognised gains or losses other than those dealt with in Ihts slalemenl of financial activities. Page 8
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 BALANCE SHEET AS AT 30 SEPTEMBER 2022 2022 2021 Note CURRENT ASSETS Stock for rosale Debtors Bank Total current assets 623 3,592 190,685 194,900 7,353 173,983 181,336 CURRENT LIABILITIES Creditors.. amounts falling due within one year 38,234 40,790 Net current assets 143.102 154,110 Net assets 143,102 154.110 THE FUNDS OF THE CHARITY Restricted funds Unreslllcled funds Total Charlty funds 11 11 52,852 90,250 143,102 65.388 88,722 154.110 For the year ended 30 September 2022 the CharFty was entitled to exemption under secllon 477 of the Companies Act 2006 ielaling lo small companies. The members have not required the company to obtain an audit in aOrdanCe with sectlon 478 of the Companies The direGtors acknowledge their responsibilities lor complying wf(h the requirements of the Act with respect lo 8ccounling records and preparation of accounts. These accounts have been weparad in accordance wlh the provisions applicable to companies subject to the small mpanies, regime. The fi'nancial slalemenls on pages 8 10 18 were approved and aulhorised for issue by the Trustees, and signed on their behalf by.. Dale= /D rt9 2023 Tina Smith, Chair The Queen's Club Foundation Company No.: 09449213 Charity No.- 1164144 Page 9
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THEYEAR ENDED 3Q SEPTEMBER 2022 ACCOUNTING POLICIES General Information, scope and basls of thè financlal statements The Queen's Club Foundation is an incorporated charity, limited by guarantee, incorporated in England with the company number 0944Q213. In the evenl of the Charity being wound up, the liability in respect of the guarantee is limited lo £1 per member of the Charity. The address of the registered office is given in the Charity information page of these finanaal slalemenls. The nalure of the Charity's operalions and principal acliviligs are outlined in the ReFlIrt of the Trustees. The charity conslilules a public benefit enlily as defined by FRS 102. The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing Iheir accounts in accordance with the Finanaal Reporting Slanclard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporh'ng Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011 and UK Generally Accepted A¢¢ounling Practi. The fi'nancial statements are prepared on a going conrn basis under the historical ¢osl convention, modifièd to indude certain items al fair value. The financial stslemenls are presented in sterling which is the lunclional currency of the charity and roun(fed lo the nearest £. The significant accounting policies applied in the preparation ol these flftanaal statements are set out below. The9e policies have been consislenlly applied lo all years presented unless otherwisè slated. Cash flow statement The Ghaiity does not inejude a Slalemenl of cash flows on the grounds that il is applying FRS 102 Sectson 1A. Incoming re$our¢es l incoming resources are included in the Slalemenl of Financial Actsvitses {SoFAI when the Charity is lagally enlilled lo the income after any performance conditions have been mel, the amount can be measured reliably. and il is probable that the income will be receivèd. For donations to b@ recognlsed the Charity will have been notified of the amounts and the selllomenl dale in writing. If ther@ are conditions attached lo the donation and this requires a level of peYformanGe before enlitlemenl ¢an be obtained then income is defeired until those conditions are fully mel or the fulfilmenl of those condition8 Is within the control ol the Charity and il is probabl8 that they will be fulfilled. Donated facilities and donated professional services are recognised in income al their fair value when their economic benefll is probable, It can be measured reliably and the charity has control over Ihts item. Fair value is d8lermined on the basis of the value of the gift ID the Charity. For example the amount the Charity would be willing to pay in the open market for such facilitles 8nd seNices. A corresponding amount is recognised in expenditure. In¢om& from trading activities includes income earned from fundraising events and trading activities lo raisè funds for the Charity. Income is.received in exchange for supplying goods and services in order lo raise funds and is recognised when enlillemenl has occuryed. Investrnenl income is e8rned through holding assets for Investment purposes su¢h as Shares. 11 indudes dividends and inlerasl. Vthere il is not practible lo idenllfy investment management costs incurred within a scheme with reasonable accuracy the investment income is reported nel of these costs. 11 is induded when the amount can be measured reliably. Interest income is recognised using the effeclThie interest method and dividend and rent income is recoonised as the Charity's right lo receive payment is established. Page10
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 ACCOUNTING POLICIES Resources expènded All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments lo third parties, il is probable that the settlement will be required and thè amount of the obligation Can be measured reliably.111g calegorised under the following expènditure headings-. Raising funds,, indudes the costs of Drganising events and other costs of fundraising Charitable 8clivities', indLEdes grants lo Ihlrd paeS and the costs of administering the Chaiily indu&ve of governance Gtssls. Grants payable to third parties are within the charitable objectives, Imiere unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise lo a reasonable expeclalion that the recipient will receive the grants. Vlhere grants are conditional relating to perfomian¢e then the grant is only accrued when any unfulfillod conditions are outside of the control ol the Charity. Support Costs are those that assist the work of the Charity but do not directly represent charitable aolivilies and include office costs, governance costs. admlnislrative payroll costs. They are incurred dirtrclly in support of expenditure on the objects of the Charity. ere support costs cannot be directly allribuled to particular headings they have been allocated lo cost of raising funds and expenditure on charitable activib.es on a basis consislenl wrth use of the resources. The analysis of these costs is induded in Note 6. VAT The Charity is not registered for VAT and is unable lo recover VAT IncuTred. On this basis costs are recorded indusive of VAT within the Statement of Flnan¢ial Activities. Taxation The Charity is considered to p2ss the tests sel out in sections 486 to 493 Corporation Tax Act 2010 {CTA 20101, as such no income tax is payable on the Charity's activities. Dèbtors receivable and credltors payable withln one year Debtors and creditors with no slated interest rale and r8ceivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily Convertible to a known amount of cash and are subject lo an insignificant rlsk of change in valua. In addition, il includes eash al bank and In hand and cash balances within the investment portfolio available for investment transaction purposes. Fund accountlng Unrestricted general funds are incoming resources receivable or generated for usfr in furtherance of the general objects of the Charity Mqlhoul reslriclion. Reslricled funds are funds which are lo be used in accordance with specific reslrlctlons Imposed by donors or which have been ralsed by the Charity for particular purposes. The cost of raising and admlnlslering such funds are charged against the speufic fund. The aim and use of each restricted fund is sel out in the notes lo the flnancial Golng concern The financial slalements have been prepared on 8 going concern basis as the TTU8tees believe that no material uncertainties exist. The Trustees have considered the 18vel ol funds held and the expected level of income and 8xpendilure for 12 months from aulhorising these financA21 slalemenls. The budgeted income and expenditure is sufficient ¥Mth the level of reserves for the Charity lo be able lo continue as a going concern. Page 11
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS 1. Donations 2022 Totsl Funds 2021 Total Fullds Unrestricted Restricted Funds Funds Unrestricted Restrlcted Funds Funds Donations Legacies Donated services and facilities 21.569 25,000 2,280 48,849 21.569 25.000 2,280 48,849 32,023 62,500 94,523 13.440 45,463 13,44D 107,963 62,500 During the year and the comparative year Ihe Charity received donated seNices and facilities tolaling £2,880 12021.. £13.440) in the form of meeting and offi'ce space {2021'. stsff costs and office space). 2. Other Income 2022 Total Funds 2021 Total Funds Unrestricted Restrlcted Fund$ Funds Unrestricted Restricted Funds Funds Sale of tickets and other fundraising income 6,239 6,239 6.239 6,239 14,211 14,211 14,211 14,211 3. Interest receivable 2022 Total Funds 2021 Total Funds Unrestricted Restricted Funds Funds Unyestricted Restricted Funds Funds Bank interest receivable 177 177 177 60 60 60 60 4. Raising funds 2022 Total Funds 2021 Totsl Funds Unrestricted Restrlcted Funds Funds Unreslricted R8Stricted Funds Funds Fundraising costs (incl. events) 2.052 2,052 2.052 2,052 4.526 4,526 4,526 4,526 Page 12
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS S. Charitsble activities 2022 Total Funds 2021 Total Funds Unrestricted Restricted Funds Funds Unrestrlcted Restricted Funds Funds Grants lo institutions for the advanment of racquet sports {negaltve figures repres8nl written back grants).. Amside Tennis 500 Barons Court Protect Bromley Cricket Club Capitol Squash & Rackets Club Choice Internationa1 Disability Day at QC Georgians Tennis in the Park Hampshire Junior Squash Hampton Court Melbourne Tennis Club Mid Sussex Active North Tyneside Disabilrty Forun Penzance Tennis Club Shooters Hill Lawn Tennis Club Surbilon Racket & Fitness Club Swavesey Squash Club Tennis & Rackets AssoGialion The Change Foundation The Hurlingham Academy Youth Mallers New Mills CIC Grants to individual players Withdrawn grants lo Individual players Primary hcX)IS real tennis and squash coachlng Community Club costs Other tharilable activities 500 840 1,000 750 1,486 (731 173) 840 I,C)00 750 1.486 11001 1100) 13,6481 {3,6481 1,500 1,000 1,500 1,000 1,982 600 1.000 780 20 720 11,0801 11.9821 161 {1,9821 161 1.982 600 1,000 780 20 720 {1,080) 885 1720) {7201 1571 1571 18901 500 500 2,150 855 860 10,250 18901 2,150 855 860 7,250 18601 16601 3,000 {111 6.827 9.414 6,827 9,414 693 693 1.588 238 9.019 1,588 238 28,917 4,442) 12,536 8,094 19,898 Page 13
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS 6. Supportcosts 2022 Total Funds 2021 Total Funds Unrestricted Restrlcted Fund5 Funds Unr8Strict8d Restricted Fullds Funds Staff Gosts Printing and promotion Maeting costs Office space Adminislralive costs Website Bank and other fees Insuran Recruilmenl Computer costs Volunteer expenses Training Governan costs.. Trustee indemnity insuran Independent examiner's fees 45,681 950 964 1,440 172 116 701 2,708 45,681 950 964 1,440 172 116 701 2,708 34,305 34,305 1,440 92 1,440 92 847 1,634 746 847 1,634 746 1,336 224 1,336 224 15 200 200 542 1,278 56,127 280 870 40,414 280 870 40.414 1,278 56,127 6a. Related party transactions and employment costs 2022 Total FLEnds 2021 Total Funds Gross wages Employeffs national insurance wsls {net of employer national illSUFance Ellowancel Employer's pension contributions Agency and seconded staff costs 34,666 21,645 665 10,350 45,681 660 12,000 34,305 ,535 26,770 Coronavirus Job Retention Scheme Receipts 45,681 No employee reiVed employee benefits inclusive ot social se¢urily contributions (excluding employer pension costs) over £60,000 in this or the comparative year. The average number of employees was.. Adminislralion of charitable activities No remuneration was received by, nor expenses paid to or on behalf of any Trustees in the year under review or the comparative year. Page14
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 3C> SEPTEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS 7. Independent examiner's fees 2022 Totsl Funds 2021 Total Funds Unrestrlcted Restrlcted Funds Funds Unrestricted Restricted Funds Funds Examination current year Examination - prior year 1,098 180 1,098 180 870 870 8. D8btors 2022 Total Funds 2021 Total Funds Trade debtors PpayMentS and accrued income 2,100 1,492 3,592 7,353 7,352 9. Credltors 2022 Total FLsnd5 2021 Total Funds Trade creditors Grants outstanding Other creditors Accruals Deferred income 11,337 4,865 976 4.008 17,048 38,234 2.348 33,628 281 4,533 40,790 O. Analysis of net assets between funds 2022 Total Funds 2021 Total Funds Unrestricted Restrlcted Funds Funds Unrestricted Restricted Funds Funds Current assets Current liabilities 128,484 38,2341 90,250 52,852 181.336 38,234 143,102 129,512 140,790 88,722 65,388 194,900 140,790 154.110 52,852 65,388 Page 15
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR TrE YEAR ENDED 30 SEPTEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS 11. AnalysSs of net movement In funds Year ended 30 September 2022 Total Total Transfers Total funds incoming resources between carrSed resources expended funds foNard Total funds brought fonATard Reslrict&d funds Community Club Tennis Foundation Rackets projects and players Primary School Squash Total restncted funds 49,509 5,810 1,000 9,069 65,388 19,4141 3,648 57 6,827 12,536 40,095 9,458 1,057 2,242 52,852 nrestricled funds General fund Tol81 unretstncted funds 88.722 88.722 55.265 55,265 53,737 53,737 90,250 90,250 Total funds 154,110 55.265 186,273 143,102 Yearended 30 Septembèr 2021 Total Total Transfers Total funds Incomlng resources between carried resources expended funds forward Total funds brought fornard Restricted funds Community Club Grants and Merchandise Tennis Foundation Rackets proiecls and players Primary School Squash Tolal $1Cted funds 16,097 35,000 5,000 10,000 2,500 10,000 62,500 11,5881 15.0001 49,509 (4,1901 5,810 1,000 9,069 65,388 (1,5001 1931 9,019 4,190 Unrestricted funds General fund Tol81 unr8slncled fvnds 82,101 82,101 67,269 67,289 64,838 164,838 4,190 4,190 88.722 88,722 Total funds 98,198 129,769 73,857 154,110 The transfer above of £4,190 from the Terinis Foundation restricted funds to the general fund represents expendilurs on the Disability Day prior lo incom8 reGognilion criteria being mel. Page 16
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS 12. Description of rèstricted funds Community Club Ftsnds eived lo support the Charily's Community Club activities. Grants and Merchandise Funds re¢&ived to support the charity's grant funding. and fundraising through the sale of merchandise. Tennis Foundation Ftjnds received to support the ¢harily's Community Club aelivilieg, organisation and deliveranco of the charity's disability day for SEND school Children, the support of individual players from disadvantaged backgrounds, and to contribute lo increased operational costs. Rackets proje¢l8 and players Funds re¢8ived to support the charity's activities supporting the sport of rackets. Primary School Squash Funds received lo enable the expansion of the charity's local school squash programme. 13. Comparative statement of financlal activities 2021 Total Funds Unrestrlcted Restricted Funds Funds Note INCOME AND ENDOWMENTS FROM.. Donations Other trading activities Investments Other- Coronavirus Job Retention Scheme 45.463 14,211 60 7,535 62.500 107.963 14,211 60 7,535 Total 67,269 62,500 129,769 EXPENDITURE ON: Raising funds Charitable activities direct costs Charitable activities support costs 4,526 19,898 40,414 4,526 28,917 40,414 9,019 Total 64,838 9,019 73,857 Net incomellexpenditurél 2,431 53,481 55,912 Transfers between funds 11 4,190 {4,1901 Net movement In funds 6,621 49,291 55,912 RECONCILIATION OF FUNDS Total funds brought fonuard 11 82,101 16.097 98,198 Total funds carrled foNard 88.722 65,388 154.110 Pag8 17
THE QUEEN'S CLUB FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS 14. Financial instruments The carrying amounts of the Charity's financial instruments are as follows.. 2022 Total Funds 2021 Total Funds Financial assets Me8sured al amortised cost- Trade debtors 2,100 Financial lbilItieS Measured at amortised cost.. Trade creditors 11,337 2,348 Page18