**Charity registration number 1171594** **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 4| |Independent examiner's report|5| |Statement of financial activities|6| |Balance sheet|7| |Notes to the financial statements|8 - 20| ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **TRUSTEES REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ The trustees present their annual report and financial statements for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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)" (effective 1 January 2019). ## **Objectives and activities** The charity's objects are to promote for the benefit of the inhabitants of Coventry and North Warwickshire and the surrounding area the provision of facilities or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of the said inhabitants. The trustees have considered the Charity Commission's general guidance on public benefit and consider that the charity has achieved its objectives during the period under review. - 1 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **Achievements and performance** During this year the Charity started a slow recovery after the Covid lock down. All our sections followed their national governing body recommendations and continued to use their draft risk assessments as proformas for assessing risks. Our connections and activities with local primary schools have continued to grow as we came out of the pandemic. The charity links with the Cities School Games Organiser for our area enabled us to host a tennis competition for pupils in years 3 & 4. We also provide our tennis courts free to local primary schools during curriculum time, allowing targeted pupils from disadvantaged families to experience tennis on a ‘real court.’ A local school continues to use the gym and squash facilities to enable them to hold two PE sessions a week on our site. The cricket section held two English Cricket Board ‘Chance to Shine’ festivals in May which attracted year 4 and 5 pupils from 10 local primary schools. Another ECB initiative for 5 -7 year olds and one for 12 -13 year olds were held introducing over 70 children to cricket. Altogether it is estimated that over 130 young people took part in cricket activities over the year. The squash section hosted a ‘Let’s get moving group’ every week for elderly patients with mobility issues from a local GP surgery. The number attending each week has now risen to 15. With the opening up of sports post Covid, we have re-established links with Coventry University, and provide reduced membership to the tennis and squash societies within the University. The Bridge Section restarted face to face play from July onwards, which was most welcomed by those older members of the community who had suffered from lack of social contact during the lockdown. The English Bridge Union approached us to provide a venue to host a national 3-day competition. At short notice, the Charity was pleased to again provide a venue for the annual Barbados Day, a community day celebrating Barbadian culture working closely with the National Council for Barbados. The Charity has run Holiday and Food Activity Programmes during school holidays throughout the year, giving young people access to a whole range of sporting activities together with providing a midday meal for them. We continued to provide facilities for ten local GP surgeries to hold their Covid vaccinations on site, freeing up their surgeries to continue normal GP appointments. Club members continued to act as volunteers booking patients in and marshalling the car park. We were very pleased to welcome a member of the GP group as a Trustee of the Charity. The hire of conference and function rooms has recommenced, and we host eight Baby Sensory sessions a week which are run to help babies learn and develop important sensory skills. A local weekly Art class has also restarted post Covid. ## **Financial review** The accounts show a surplus of £16,837 (2021 - £56,893) for the year. At the balance sheet date total fund balances were £1,085,911 (2021 - £1,069,074). Of these balances £12,344 (2021 - £13,730) related to restricted funds. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s e xpenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. ## Sources of Funding The main sources are membership subscriptions and other amounts raised by the activity sections of the charity. Further funds come from donations and property related rentals. - 2 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## Risk management The trustees have assessed the major strategic, business and operational risks to which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. The risk management is reviewed annually by the Trustees. ## **Structure, governance and management** Coventry and North Warwickshire Sports Club is a charitable incorporated organisation (CIO) which was registered with the Charity Commission on 14 February 2017. It is governed by its constitution and managed by its trustees who meet on a regular basis. – The CIO started operating on 2 July 2017 when the assets and liabilities of the former members club Coventry – – and North Warwickshire Sports Club were transferred to the CIO. A wholly owned subsidiary trading company – Coventry Sports & Functions Ltd was incorporated to continue the commercial activities of the former members club. |The trustees who served during the year and up to the date of signature of the financial statements were:|The trustees who served during the year and up to the date of signature of the financial statements were:|The trustees who served during the year and up to the date of signature of the financial statements were:| |---|---|---| |T Testot|Chair|(Resigned 19 January 2023)| |M Sinclair Taylor|Vice Chair|| |J S Hill|Treasurer|| |P Whitehead|Secretary|| |D Robinson||| |J Owen||| |A Ridgway||(Appointed 18 May 2022)| |P Morgan||(Appointed 15 June 2022)| |J Gaffney||(Appointed 15 June 2022)| |L Brown||(Appointed 15 October 2022)| |A Cowdrey||(Resigned 19 May 2021)| |K Liddle||(Resigned 15 October 2022)| |T Morris||(Appointed 10 May 2022 and resigned 31 October 2022)| |N Malatesta||(Resigned 15 May 2022)| |I Killian||(Resigned 19 April 2022)| |P Scanlon||(Appointed 15 September 2021 and resigned 11 May 2022)| ## How decisions are made The board of trustees meets regularly for the purposes of discussing the charity's affairs and decision making. ## **Induction and Training of Trustees** New trustees undergo a period of orientation to brief them on their legal obligations under charity law, the content of the governing document, the committee and decision making processes, the business plan and recent financial performance of the Charity. During the induction they meet key personnel and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. - 3 - COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 The trustees riwasa roved by Ihe 8oard ol Trvslees. J S Hill Trustee Dalo.. rJ- COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB INDEPENDEKf EXAMINER'S REPORT TO THE TRUSTEES OF COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB I rep(*t to Ihe trustegs on my examlnation of the financial ststements of Coventy and North Warwickshire Sports Club {the tharity) for Ihe year ended 31 March 2022. R•8ponsibilltl•s and bash of r•port As the trustees of the charfty you are responslble for the preparaUM of the financial slatements in accordance wlth the requlrements of the Charities Act 2011 {the 2011 Act). I report in respect of my examinatron of tho charity's financial stalements carried out under secucn 145 of the 2011 ACL In carrying out my examlnallon I have followed gll the applicable Dlrections given by the Charity CcJmmissb)n under ￿tion 146(SXb) of the 2011 Act. Ind•pgndonl e￿min0￿1 stst•m•nt Your attenti¢)n is draym lo the fact that the charity has prepared finandal statements in accordance wlth Accounung and Reporting by Charldes preparing their acccyJnts in a￿Ordance wSlh ihe Financi81 Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 in preferen￿ to the A(c￿n￿n9 and Rewrtlng by Charithes.. Ststement of Recommended Practice Issued on 1 April 2005 whith is referred to In the extant regulalons but has now been thdrawn. l under81and Ihat this has been done In order for flnanclal statements to provide a twe and fair vithv In &cordance vlth GenerallyAccepled Accounfjng Pracdce effect￿6 for rep￿n9 perfods beginnSng on or after 1 January 2015. I have completsd my examlnation. I confim Ihat no mattfjrs have come to my attentlon In connoction with Ihe examlnation giving me cause to believe that in any material respect.. accounting records were not kepl In respect of the charity as required by sedlon 130 of Ihe 2011 Act; or the financSal statements do not actA)rd wth those records.. or the finan￿al statements do not comply the applic*)le requirements conceming the fum and content ot aLwunls sgt out in the Charities {Accx)unts and Reports) Regulallons 2008 other than any requlrement that the accounts gNe a true 8n(I fair view which is not a matter considered as part of an Independent examination. I have no concem8 and have come atxoss no other matters in ojnneclon vlth the examlnatlon to vthi¢h attention should be drawn In Ihis reFQrt in cyder to enable a proper undeTslandlng of the flnanclal statements to be reathed. obertAnderson FCA Azets Audtt Servlc•s 3Mc Middlemarth Business Park Slskln Drlve Coventy CV3 4FJ Dated: .. ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
50,733
8
Charitable activities
**4**
123,473
-
Investments
**5**
21,680
-
Other income
**6**
7,872
-
**Total income**
203,758
8
**Expenditure on:**
Charitable activities
**7**
185,535
1,394
**Net income/(expenditure) for**
**the year/**
**Net movement in funds**
18,223
(1,386)
Fund balances at 1 April 2021
1,055,344
13,730
**Fund balances at 31 March**
**2022**
1,073,567
12,344|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
50,741
53,651
5,019
123,473
80,362
-
21,680
2,141
-
7,872
7,088
-
203,766
143,242
5,019
186,929
91,206
162
16,837
52,036
4,857
1,069,074
1,003,308
8,873
1,085,911
1,055,344
13,730|**Total**
**2021**
**£**
58,670
80,362
2,141
7,088| |---|---|---| |||148,261| |||91,368| |||56,893
1,012,181| |||1,069,074| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 6 - COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB BALANCE SHEET ASAT31 MARCH 2022 2022 2021 Notes Flxed assets Tangible assets Invaslments 11 12 1.323,920 9.001 1,318,999 9,001 1,332,921 1,328.0 Current assets Debtors Cash at bank and in hand 13 128,769 128.978 38,196 173,610 257,747 211,8( Credltors: amounts falllng due wlthln one year 16 1196,3191 1149,1431 Ne( currenl assets 61.428 62,663 Total assets le$$ current liabilities 1,394,349 1,390.663 Credltofs: amounts falllng due after more than one year 16 1308,438} 1321,5891 Net assets 1.085,911 1,069,074 Income funds Reslricled lunds Unrestricted funds 18 12,344 1,073.567 13,730 1.055,344 1.085,911 1.069.074 The finanual s temenls w re approved by the Trustees on ... J S Hill Trustee ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** ## **Charity information** Coventry and North Warwickshire Sports Club is a charitable incorporated organisation (CIO) registered in England and Wales with a company number of CE010284 and charity number of 1171594. The charity was registered with the Charity Commission on 14 February 2017 and started operating on 2 July 2017 when the assets and liabilities of the former club, Coventry and North Warwickshire Sports Club, were transferred to the CIO. A wholly owned subsidiary, Coventry Sports and Functions Ltd, was incorporated to continue the commercial activities of the former members club. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **1.2 Going concern** The implications of the Covid-19 pandemic remain unclear and it is therefore difficult to evaluate the likely impact on the charity. The trustees' assessment at the date of approval of the financial statement does not create a material uncertainty in respect of going concern. At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. - 8 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** ## **(Continued)** Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised when received. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **1.5 Expenditure** 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 to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |Freehold land and buildings|no depreciation| |---|---| |Outdoor equipment|20% reducing balance| |Fixtures and fittings|15% reducing balance| |Indoor equipment|5% reducing balance| |Leisure equipment|25% reducing balance| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. ## **1.8 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. - 9 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** ## **(Continued)** ## **1.10 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled. ## **1.11 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 10 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **3 Donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
25,833
8
Local grants receivable
24,900
-
50,733
8|**Total**
Unrestricted
Restricted
funds
funds
**2022**
2021
2021
**£**
£
£
25,841
5,726
5,019
24,900
47,925
-
50,741
53,651
5,019|Total
2021
£
10,745
47,925| |---|---|---| |||58,670| Grant income represents amounts of £24,900 (2021 - £37,925) received from Coventry City Council and £0 (2021 - £10,000) from the National Lottery and relate to Covid support. ## **4 Charitable activities** |Members subscriptions and section income - bridge
Members subscriptions and section income - cricket
Members subscriptions and section income - leisure
Members subscriptions and section income - netball
Members subscriptions and section income - social
Members subscriptions and section income - squash
Members subscriptions and section income - tennis|**2022**
**£**
20,580
22,056
10,561
9,523
1,020
33,474
26,259
123,473|**2021**
**£**
5,943
11,441
10,300
5,725
740
27,357
18,856| |---|---|---| |||80,362| ## **5 Investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Rental income|21,542|2,000| |Interest receivable|138|141| ||21,680|2,141| - 11 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **6 Other income** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Other income|2,165|38| |Phone mast income|1,030|1,030| |Profit from 500 club|4,677|6,020| ||7,872|7,088| ## **7 Charitable activities** |**General**
**overheads**
**Upkeep of**
**ground**
**Management**
**of clubhouse**
**Building**
**maintenance**
**Games**
**expenses**
**2022**
**2022**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
**£**
Depreciation
and
impairment
-
-
-
-
154
Light and
heat
-
-
10,785
-
-
Repairs and
maintenance
-
12,365
159
32,658
-
Cleaning
-
-
19,200
-
-
Telephone
-
-
915
-
-
Printing and
stationery
-
-
176
-
-
Computer
and software
expenses
-
-
2,586
-
-
Sundries
-
-
35
-
-
Petrol, turf
and fertiliser
-
-
-
-
-
Games
expenses
(see note 7a)
-
-
-
-
38,784
Recharged
payroll
expenses
-
-
3,650
-
6,874
Burglar alarm
& CCTV
-
-
6,625
-
-
-
12,365
44,131
32,658
45,812
Share of
support costs
(see note 8)
49,363
-
-
-
-|**Total**
**2022**
**£**
154
10,785
45,182
19,200
915
176
2,586
35
-
38,784
10,524
6,625
134,966
49,363|**Total**
**2021**
**£**
162
9,476
15,715
7,185
971
93
2,721
654
302
14,448
8,900
2,993| |---|---|---| |||63,620
25,148| - 12 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **7 Charitable activities** |**Charitable activities**
Share of
governance
costs (see
note 8)
2,600
51,963
**Analysis**
**by fund**
Unrestricted
funds
51,963
Restricted
funds
-
51,963|-
12,365
11,615
750
12,365|-
44,131
44,131
-
44,131|-
32,658
32,658
-
32,658|-
45,812
45,168
644
45,812|**(Continued)**
2,600
2,600
186,929
91,368
185,535
91,206
1,394
162
186,929
91,368|**(Continued)**
2,600
2,600
186,929
91,368
185,535
91,206
1,394
162
186,929
91,368| |---|---|---|---|---|---|---| |||||||91,368| |||||||91,206
162| |||||||91,368| ## **7a Games expenses** Total games expenses were £38,784 (2021 - £14,448) and relate to the following sections: Bridge: £4,023 (2021 - £1,789) Cricket: £17,052 (2021 - £4,819) Leisure £3,545 (2021 - £0) Netball £6,578 (2021 - £4,280) Squash £1,068 (2021 - £908) Tennis £6,518 (2021 - £2,652) - 13 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ - **7 Charitable activities** **(Continued)** **For the year ended 31 March 2021** |**General**
**overheads**
**Upkeep of**
**ground**
**Management**
**of clubhouse**
**Building**
**maintenance**
**Games**
**expenses**
**£**
**£**
**£**
**£**
**£**
Depreciation and
impairment
-
-
-
-
162
Light and heat
-
-
9,476
-
-
Repairs and maintenance
-
13,362
158
2,195
-
Cleaning
-
-
7,185
-
-
Telephone
-
-
971
-
-
Printing and stationery
-
-
93
-
-
Computer and software
expenses
-
-
2,721
-
-
Sundries
-
-
654
-
-
Petrol, turf and fertiliser
-
302
-
-
-
Games expenses (see note
7a)
-
-
-
-
14,448
Recharged payroll
expenses
-
-
3,650
-
5,250
Burglar alarm & CCTV
-
-
2,993
-
-
-
13,664
27,901
2,195
19,860
Share of support costs (see
note 8)
25,148
-
-
-
-
Share of governance costs
(see note 8)
2,600
-
-
-
-
27,748
13,664
27,901
2,195
19,860
**Analysis by fund**
Unrestricted funds
27,748
13,664
27,901
2,195
19,698
Restricted funds
-
-
-
-
162
27,748
13,664
27,901
2,195
19,860|**Total**
**2021**
**£**
162
9,476
15,715
7,185
971
93
2,721
654
302
14,448
8,900
2,993| |---|---| ||63,620
25,148
2,600| ||91,368| ||91,206
162| ||91,368| - 14 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ |**8**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Bank charges
264
-
Interest payments
7,239
-
Rates and water
5,909
-
Fire and safety
221
-
Club manager costs
13,247
-
Insurance
2,616
-
Administrative and
secretarial
11,834
-
Depreciation
6,701
-
HR expenses
1,332
-
Accountancy fees
-
2,600
49,363
2,600
Analysed between
Charitable activities
49,363
2,600|**2022**
Support
costs
Governance
costs
**£**
£
£
264
373
-
7,239
5,993
-
5,909
2,681
-
221
222
-
13,247
-
-
2,616
2,157
-
11,834
5,148
-
6,701
7,422
-
1,332
1,152
-
2,600
-
2,600
51,963
25,148
2,600
51,963
25,148
2,600|2021
£
373
5,993
2,681
222
-
2,157
5,148
7,422
1,152
2,600| |---|---|---| |||27,748| |||27,748| Governance costs includes payments to the accountants of £2,600 for examiner fees. ## **9 Trustees** None of the trustees received any remuneration, expenses or benefits from the charity during the year. ## **10 Employees** The Charity does not have a payroll system of its own but there is a payroll scheme set up within the – subsidiary company. In this year, the gross wages of three part time employees (2021 three employees) were recharged in full from the subsidiary on the basis they work solely for the Charity. In addition further – recharges were made for one employee (2021 one employees) who work part of their time for the Charity. The total amount of these recharges was £17,167 (2021 - £10,150). - 15 - ||||||||||||||||**11**| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |At 31 March 2021||At 31 March 2022|**Carrying amount**|At 31 March 2022|Depreciation charged in the year|At 1 April 2021|**Depreciation and impairment**|At 31 March 2022|Additions|At 1 April 2021|**Cost**||||**Tangible fixed assets**| |1,251,907||1,251,907||-|-|-||1,251,907|-|1,251,907||**£**|**and buildings**|**Freehold land**|| |12,033||9,620||18,013|2,404|15,609||27,633|-|27,633||**£**|**equipment**|**Outdoor**|| |10,326||8,768||9,136|1,558|7,578||17,904|-|17,904||**£**|**fittings**|**Fixtures and**|| |43,785||41,654||11,123|2,140|8,983||52,777|-|52,777||**£**|**equipment**|**Indoor**|| |948||11,971||3,344|753|2,591||15,315|11,776|3,539||**£**|**equipment**|**Leisure**|| |1,318,999||1,323,920||41,616|6,855|34,761||1,365,536|11,776|1,353,760||**£**||**Total**|| ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **12 Fixed asset investments** |**Cricket**
**memorabilia**
**Other**
**investments**
**£**
**Cost or valuation**
At 1 April 2021 & 31 March 2022
9,000
1
**Carrying amount**
At 31 March 2022
9,000
1
At 31 March 2021
9,000
1
**2022**
Other investments comprise:
**Notes**
**£**
Investments in subsidiaries
**21**
1
**13**
**Debtors**
**2022**
**Amounts falling due within one year:**
**£**
Trade debtors
75,265
Amounts owed by subsidiary undertakings
43,107
Other debtors
7,530
Prepayments and accrued income
2,867
128,769
**14**
**Loans and overdrafts**
**2022**
**£**
Debenture loans
190,714
Bank loans
79,324
270,038
Payable within one year
112,720
Payable after one year
157,318|**Total**
**£**
9,001| |---|---| ||9,001| ||9,001| ||**2021**
**£**
1| ||**2021**
**£**
2,933
33,427
1,836
-| ||38,196| ||**2021**
**£**
218,214
96,365| ||314,579| ||91,900
222,679| The charity has two bank loans. One is secured by fixed charges over the freehold property, the other is a Bounce Back loan which is unsecured. The debentures incur interest at a rate of 4% per annum unless the lender has waived the right to interest. - 17 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **15 Creditors: amounts falling due within one year** |**Notes**
Bank loans
**14**
Other borrowings
Deferred income
**17**
Trade creditors
Accruals and deferred income
**16**
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**14**
Other borrowings
Deferred income
**17**
**17**
**Deferred income**
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Non-current liabilities
Movements in the year:
Deferred income at 1 April 2021
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2022|**2022**
**£**
20,000
92,720
14,340
24,921
44,338
196,319
**2022**
**£**
59,324
97,994
151,120
308,438
**2022**
**£**
165,460
**2022**
**£**
14,340
151,120
165,460
99,940
(1,030)
66,550
165,460|**2021**
**£**
16,500
75,400
1,030
14,470
41,743
149,143
**2021**
**£**
79,865
142,814
98,910
321,589
**2021**
**£**
99,940
**2021**
**£**
1,030
98,910
99,940
100,970
(1,030)
-
99,940| |---|---|---| - 18 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **17 Deferred income** **(Continued)** Deferred income relates to a lease premium received in advance that is being recognised over the term of the lease. The income deferred in the year of £66,500 relates to room hire for the 5 year period ended 31 March 2027 that will be recognised equally over this period ## **18 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |**Balance at**
**1 April 2020**
**£**
Bridge fund
5,328
Club
driveway
repairs
3,545
8,873|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
5,000
(162)
19
-
5,019
(162)|**Balance at**
**1 April 2021**
**£**
10,166
3,564
13,730|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**31**
**£**
**£**
-
(644)
8
(750)
8
(1,394)|**Balance at**
**March 2022**
**£**
9,522
2,822
12,344| |---|---|---|---|---| ## Bridge Fund The Bridge Fund relates to funds received from a Bridge members that can only be specifically applied for bridge items. The balance on the fund at the year end is represented by the net book value of assets acquired plus the remaining unspent bank balances. ## Club Driveway Repairs The Club Driveway Repairs Fund represents monies donated by members for repairs to the club driveway. The balance on the fund is represented by the unspent bank balances. ## **19 Analysis of net assets between funds** |**Unrestricted**
**Restricted**
**2022**
**2022**
**£**
**£**
Fund balances at 31
March 2022 are
represented by:
Tangible assets
1,320,993
2,927
Investments
9,001
-
Current assets/(liabilities)
52,011
9,417
Long term liabilities
(308,438)
-
1,073,567
12,344|**Total**
Unrestricted
**2022**
2021
**£**
£
1,323,920
1,315,918
9,001
9,001
61,428
52,014
(308,438)
(321,589)
1,085,911
1,055,344|Restricted
2021
£
3,081
-
10,649
-
13,730|Total
2021
£
1,318,999
9,001
62,663
(321,589)
1,069,074| |---|---|---|---| - 19 - ## **COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **20 Related party transactions** At the balance sheet debentures of £34,820 (2021 - £34,820) were owed to 4 (2021 - 4) trustees. The interest charged on these debentures during the year amounted to £953 (2021 - £953). ## **21 Subsidiaries** These financial statements are separate charity financial statements for the year ended 31 March 2022. Details of the charity's subsidiaries at 31 March 2022 are as follows: |**Name of undertaking**|**Registered**|**Nature of business**|**Class of**|**% Held**| |---|---|---|---|---| ||**office**||**shares held**|**Direct Indirect**| |Coventry Sports and|United Kingdom|Commercial activities of a|Ordinary|100.00| |Functions Ltd||sports club||| The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows: |**Name of undertaking**|**Profit/(Loss)**|**Capital and**| |---|---|---| |||**Reserves**| ||**£**|**£**| |Coventry Sports and||| |Functions Ltd|5,947|(84,174)| As noted above the subsidiary company, at the balance sheet date, has net liabilities of £84,174 and a balance of £43,107 is owed by the subsidiary to the Charity at this date. The charity has agreed not to demand repayment of the amounts owed for the foreseeable future and will continue to provide support as necessary. On this basis the subsidiary company is deemed to be a going concern. - 20 -