OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Charity registration number 1171594

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

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.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Achievements and performance

The club continues its slow recovery from the effects of Covid.

Our connections with local schools and universities have continued. Students from a local school continue to use the gym, squash and tennis facilities at the club for two PE sessions each week. Coventry University students use the squash courts for regular recreational sessions. The cricket section held two Chance to Shine Festivals in May 2022, attracting children from 10 local Junior Schools. During the cricket season the club ran junior coaching sessions for 5-7 year olds under the national All Stars Scheme; for 8-11 year olds under the NCB Dynamos scheme. Both courses were highly successful with 70 children attending altogether. Coaching was also provided for 12-13 year old boys and girls. There was also a course for girls aged 10-14 which was well attended. There was an Easter Holiday Coaching Course in 2022 which was attended by 30 boys and girls. In the school summer holidays five Summer Holiday Coaching Courses were run, attended by some 150 children.

The squash section hosted a ‘Lets Get Moving’ exercise group every Wednesday for elderly patients with mobility issues referred by a local GP practice. Its popularity keeps growing and the number of regular users has increased to 18. It is hoped this will be rolled out to other GP practices.

A community boxing club has continued to use one squash court on a regular basis delivering fitness training to the local community.

Open ‘taster’ sessions have been run to introduce members of the public to squash and racketball.

The netball section goes from strength to strength, with 5 teams competing in local leagues at various levels by the end of the season in April 23. Coaching is provided for both adults and children from the local area. The club has hosted a number of netball tournaments.

Bridge is still very much in recovery after being closed down for 18 months. During the year more weekly sessions have been introduced and four competitions, abandoned since before Covid, have resumed. Some 24 students attended beginner lessons over the winter, and player development continued with more advanced classes. The club hosted two national competitions run by the English Bridge Union.

One of the bridge rooms continues to be used by a consortium of local GP practices for delivery of flu and Covid booster jabs. The main bridge room is used for delivery of Baby Sensory sessions on two days each week.

The CNW Tennis section has continued to provide a range of cost-effective tennis participation opportunities for all ages and abilities from our local community and the wider area.

For Adults (aged 18+) we ran Monday evening group coaching sessions. Two classes were organised to cater for different standards of player, intermediate & improvers, and Ladies only group coaching was held on a Tuesday evening. Due to increased demand from beginners, a new class commenced early in the Summer season.

Veterans Social Tennis ran on a Wednesday afternoon and on a Wednesday evening team coaching was provided for higher ability players. This session provided both an activity opportunity and social engagement platform for players.

We have added weekend social sessions to the program throughout the year, which is open to all abilities and has been very successful in increasing participation from the local community.

We also continued to offer access to the courts free of charge to local schools during curriculum time so targeted pupils from disadvantaged families could experience tennis on a real court.

Financial review

The accounts show a deficit of £24,322 (2022 - £16,837 surplus) for the year.

At the balance sheet date total fund balances were £1,061,589 (2022 - £1,085,911). Of these balances £14,260 (2022 - £12,344) related to restricted funds.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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 expenditure. 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.

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:
T Testot (Resigned 19 January 2023)
M Sinclair Taylor (Resigned 12 June 2023)
J S Hill
D Robinson
P Whitehead (Resigned 17 March 2023)
J Owen (Resigned 14 August 2023)
A Ridgway (Appointed 18 May 2022)
P Morgan (Appointed 15 September 2022)
J Gaffney (Appointed 15 September 2022)
L Brown (Appointed 15 October 2022)
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 (Resigned 11 May 2022)
B Blundell (Appointed 12 October 2023)
D McLanaghan (Appointed 9 November 2023)

The board of trustees meet 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.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Tho trust rt was sp￿ad by Board of Trnstees. J SHill Date..

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB I report lo the trustees C￿ my ex￿inal19n of the I[r￿￿￿al 8tatwnents of Coventy and Norlh WaThvlckshlre Sports Club (the charity) for the yw ended 31 Marth 2023. R•¥ponslbSlltl•8 and bas18 of rewt A5 the lyustees of the charity you are respon￿ble for the weparatk)n of ts fin￿cIal slatwnerts In 8￿rda￿a vlth tho requlremwtts of the CharbliesAct 2011 (th8 2011 Act). I report In respect of my ex8mln81iffi of the charity's flnanclal Stat￿nents c8rrd out undèr seclion 145 of the 2011 Acl. In carylng ¢yJt my examlnation I have fdlthved all thé appluble Direcllons gIV￿ by the Ch4rfty Ccrfnmlss uNJ8r secllon I4￿5xb) of the 2011 ACL Ind•￿ndn1 •x•mln•V• •tt•m•nt Yow atlenllon Is drawn lo Ihe fact that ts ch8rlty has weparbj finandal ststements In accordanc wlth Accounlng and Reportlng by Charfljes preparing tsr accounts in accordar￿ with Ihe Flnandal R8porNng Stsndard applicable In thè UK and Republk of Irdand {FRS 102) In Pfeferenc& lo the Ac£w)ling and RePc￿￿ by Charflles". Statement of Recommer￿ed Prxtke Issued on 1 April 2005 L8 refwgd lo In th8 exlanl regLlabons trArt has now be•n withdrawn. l understand that INS has been done In eNder for finandal ststements lo provlde a In￿ fair vknv Sn acwrd8nc th G8nefally A¢xepled Aco)unting Pracllce effvxlfve for repcKtlrKJ wlods beginnlng on or after 1 J8nuary 2015. I hgve ccrfnpl8tsd my gx8minatlon. l eonfiTh Ihal no matters have c(￿0 to my att￿￿On In connecllon wlth the exam[n8￿On glvlrKJ me Gause lo bellev6 that in ary material Te5pecL" accoundng records were not kepl ift respe￿ of the chartty as req￿red by sKUon 130 of thg 2011 Acl: or the ffinanrial ststements do accord wllh tho86 rac0￿.. or the flnanci818latemenls do nol'compty vith the applicable requI￿ents concerrAng the fom aThJ contanl of occounls s61 tyjt In the cha￿11£$ (Accounts and Reports) Regulalons 2008 other than 8ny requirement that I accounts give a Iwe and fatr ¥1￿ vh)k is not a mattar cowdergd as part ol an Ir)Jependent examlnaYon. I have no concerns and have come across no other matters in QOnn￿tiOn wlth ts 8xaminalknn to vthich attenlS¢)n should be drawn In Ihls rnport In order lo enable a proper understandlrvj of Ihe financial statements lo be rea¢hed. Rc*rtAnder8on FCA Azets Audll S•r¥lc•s 3McMiddlemarth ￿lnesS Park Siskin Drlve Coventy CV3 4FW Datsd.. 31 January 2024

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Donations and
legacies
3
11,199
2,500
Charitable activities
4
135,186
-
Investments
5
25,459
-
Other income
6
6,753
-
Total income
178,597
2,500
Expenditure on:
Charitable activities
7
204,835
584
Net (expenditure)/income
for the year/
Net movement in funds
(26,238)
1,916
Fund balances at 1 April
2022
1,073,567
12,344
Fund balances at 31
March 2023
1,047,329
14,260		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
13,699
50,733
8
135,186
123,473
-
25,459
21,680
-
6,753
7,872
-
181,097
203,758
8
205,419
185,535
1,394
(24,322)
18,223
(1,386)
1,085,911
1,055,344
13,730
1,061,589
1,073,567
12,344		 Total
2022
£
50,741
123,473
21,680
7,872
Donations and
legacies
3
Charitable activities
4
Investments
5
Other income
6
Total income
Expenditure on:
Charitable activities
7
Net (expenditure)/income
for the year/
Net movement in funds
Fund balances at 1 April
2022
Fund balances at 31
March 2023
203,766
186,929
16,837
1,069,074
1,085,911

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB BALANCE SHEET ASAT31 MARCH2023 2023 2022 Flx•d a￿•ts Tangible assets Investrnents 12 13 1,328.$64 9.CKJ1 1,323.920 9.001 1.337.565 1.332,921 Curr•nt ass•ts Debtors Cash at b8nk and in hand 14 97.076 90.193 128.769 128.978 187.269 257.747 Cr•dltors: amounls falllng du? vAthln on• y•4r 16 1153,224) 1196,3191 61,428 Total ass•ts 1•58 curr•nt Ilabllltl•s 1.371.610 1.394.349 Cr•dltors: amounts lalllng du• all•r mor• th4n on• yoar 17 1310.021) {308.4381 1.1x31,589 1,085,911 Incom• fund• Rgslricted fund$ Unrgslricted fvThJs 14,280 1.047.329 12.344 1.073.567 1,061,589 1.085,911 Th? fina￿18 J SHill Trust

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 CIO's regsitered address is Binley Road, Coventry, CV3 1HB.

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

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.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
11,199
-
Local grants receivable
-
2,500
11,199
2,500		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
11,199
25,833
8
2,500
24,900
-
13,699
50,733
8		 Total
2022
£
25,841
24,900
50,741

Grant income represents amounts of £2,500 (2022 - £24,900) received from Think Active CSW (2022 - Coventry City Council).

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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		 2023
£
27,130
22,310
15,372
10,937
1,350
35,354
22,733
135,186		 2022
£
20,580
22,056
10,561
9,523
1,020
33,474
26,259
123,473

5 Investments

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Rental income 24,591 21,542
Interest receivable 868 138
25,459 21,680
Other income
**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Other income 406 2,165
Phone mast income 1,030 1,030
Profit from 500 club 5,317 4,677
6,753 7,872

6 Other income

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

7 Charitable activities

Charitable activities
General
overheads
Upkeep
of ground
Management
of clubhouse
Building
maintenance
Games
expenses
2023
2023
2023
2023
2023
£
£
£
£
£
Depreciation and impairment
-
-
-
-
146
Light and heat
-
-
9,338
-
-
Repairs and maintenance
-
12,831
159
7,655
-
Cleaning
-
-
23,034
-
-
Telephone
-
-
1,763
-
-
Computer and software expenses
-
-
3,249
-
-
Sundries
-
-
5,246
-
-
Games expenses (see note 7a)
-
-
-
-
58,478
Recharged payroll expenses
-
-
3,650
-
7,801
Sports TV and alarm system
-
-
7,708
-
-
-
12,831
54,147
7,655
66,425
Share of support costs (see note 8)
61,761
-
-
-
-
Share of governance costs (see note 8)
2,600
-
-
-
-
64,361
12,831
54,147
7,655
66,425
Analysis by fund
Unrestricted funds
64,361
12,831
54,147
7,655
65,841
Restricted funds
-
-
-
-
584
64,361
12,831
54,147
7,655
66,425		 Total
2023
£
146
9,338
20,645
23,034
1,763
3,249
5,246
58,478
11,451
7,708
141,058
61,761
2,600
205,419
204,835
584
205,419		 Total
2022
£
154
10,785
45,182
19,200
915
2,586
211
38,784
10,524
6,625
134,966
49,363
2,600
186,929
185,535
1,394
186,929

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

7 Charitable activities

(Continued)

For the year ended 31 March 2022

General
overheads
Upkeep
of ground
Management
of clubhouse
Building
maintenance
Games
expenses
£
£
£
£
£
Depreciation and
impairment
-
-
-
-
154
Light and heat
-
-
10,785
-
-
Repairs and maintenance
-
12,365
159
32,658
-
Cleaning
-
-
19,200
-
-
Telephone
-
-
915
-
-
Computer and software
expenses
-
-
2,586
-
-
Sundries
-
-
211
-
-
Games expenses (see note
7a)
-
-
-
-
38,784
Recharged payroll
expenses
-
-
3,650
-
6,874
Sports TV and alarm
system
-
-
6,625
-
-
-
12,365
44,131
32,658
45,812
Share of support costs (see
note 8)
49,363
-
-
-
-
Share of governance costs
(see note 8)
2,600
-
-
-
-
51,963
12,365
44,131
32,658
45,812
Analysis by fund
Unrestricted funds
51,963
11,615
44,131
32,658
45,168
Restricted funds
-
750
-
-
644
51,963
12,365
44,131
32,658
45,812		 Total
2022
£
154
10,785
45,182
19,200
915
2,586
211
38,784
10,524
6,625
134,966
49,363
2,600
186,929
185,535
1,394
186,929

7a Games expenses

Total games expenses were £58,539 (2022 - £38,784) and relate to the following sections:

Bridge: £7,115 (2022 - £4,023) Cricket: £20,646(2022 - £17,502) Leisure £411 (2022 - £3,545) Netball £8,169 (2022 - £6,578) Squash £14,364(2022 - £1,068) Tennis £7,834(2022 - £6,518)

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

8 Support costs

Support
costs
Governance
costs
£
£
Bank charges
312
-
Interest payments
3,050
-
Rates and water
8,877
-
Fire and safety
667
-
Club manager (50%)
11,591
-
Insurance
3,139
-
Administrative and
secretarial
15,075
-
Membership expenses
9,400
-
Depreciation
8,395
-
HR expenses
1,255
-
Accountancy fees
-
2,600
61,761
2,600
Analysed between
Charitable activities
61,761
2,600		 2023
Support
costs
Governance
costs
£
£
£
312
264
-
3,050
7,239
-
8,877
5,909
-
667
221
-
11,591
13,247
-
3,139
2,616
-
15,075
11,834
-
9,400
-
-
8,395
6,701
-
1,255
1,332
-
2,600
-
2,600
64,361
49,363
2,600
64,361
49,363
2,600		 2022
£
264
7,239
5,909
221
13,247
2,616
11,834
-
6,701
1,332
2,600
51,963
51,963

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 one part time employees (2022 – 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 two employees (2022 – one employees) who work part of their time for the Charity. The total amount of these recharges was £15,803 (2022 - £17,167).

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

12 Tangible fixed assets

Freehold land
and buildings
£
Cost
At 1 April 2022
1,251,907
Additions
-
At 31 March 2023
1,251,907
Depreciation and impairment
At 1 April 2022
-
Depreciation charged in the year
-
At 31 March 2023
-
Carrying amount
At 31 March 2023
1,251,907
At 31 March 2022
1,251,907		 Outdoor
equipment
Fixtures and
fittings
£
£
27,633
17,904
2,100
3,517
29,733
21,421
18,013
9,136
2,043
1,326
20,056
10,462
9,677
10,959
9,620
8,768		 Indoor
equipment
£
52,777
7,568
60,345
11,123
2,032
13,155
47,190
41,654		 Leisure
equipment
£
15,315
-
15,315
3,344
3,140
6,484
8,831
11,971		 Total
£
1,365,536
13,185
1,378,721
41,616
8,541
50,157
1,328,564
1,323,920

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

13 Fixed asset investments

Cricket
memorabilia
Other
investments
£
Cost or valuation
At 1 April 2022 & 31 March 2023
9,000
1
Carrying amount
At 31 March 2023
9,000
1
At 31 March 2022
9,000
1
2023
Other investments comprise:
Notes
£
Investments in subsidiaries
22
1
14
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
8,731
Amounts owed by subsidiary undertakings
71,787
Other debtors
10,451
Prepayments and accrued income
6,107
97,076
15
Loans and overdrafts
2023
£
Debenture loans
182,214
Bank loans
61,421
243,635
Payable within one year
70,394
Payable after one year
173,241		 Total
£
9,001
9,001
9,001
2022
£
1
2022
£
75,265
43,107
7,530
2,867
128,769
2022
£
190,714
79,324
270,038
112,720
157,318

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.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

15 Loans and overdrafts

(Continued)

The debentures incur interest at rates between 2% and 4% in the year unless the lender has waived the right to interest.

16 Creditors: amounts falling due within one year

Notes
Bank loans
15
Other borrowings
Deferred income
18
Trade creditors
Accruals and deferred income
Creditors: amounts falling due after more than one year
Notes
Bank loans
15
Other borrowings
Deferred income
18
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		 2023
£
10,000
60,394
14,340
28,247
40,243
153,224
2023
£
51,421
121,820
136,780
310,021
2023
£
151,120
2023
£
14,340
136,780
151,120		 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

17 Creditors: amounts falling due after more than one year

18 Deferred income

Movements in the year:

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

18
Deferred income
Deferred income at 1 April 2022
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2023		 (Continued)
165,460
99,940
(14,340)
(1,030)
-
66,550
151,120
165,460

Deferred income relates to a lease premium received in advance that is being recognised over the term of the lease and room hire relating to a period that ends on 31 March 2027. The room hire is being recognised at an annual amount of £13,310 over this period.

19 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:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Balance at
1 April 2021 resources expended 1 April 2022 resources expended 31 March 2023
£ £ £ £ £ £ £
Bridge fund 10,166 - (644) 9,522 - (584) 8,938
Club
driveway
repairs 3,564 8 (750) 2,822 - - 2,822
Mower - - - - 2,500 - 2,500
13,730 8 (1,394) 12,344 2,500 (584) 14,260

Bridge Fund

The Bridge Fund relates to funds received from 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.

Mower fund

To assist in the purchase of a new mower. The balance is represented by the cost of the mower included in fixed assets.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

20 Analysis of net assets between funds

Unrestricted
Restricted
2023
2023
£
£
Fund balances at 31
March 2023 are
represented by:
Tangible assets
1,323,683
4,881
Investments
9,001
-
Current assets/(liabilities)
24,666
9,379
Long term liabilities
(310,021)
-
1,047,329
14,260		 Total Unrestricted
Restricted
2023
2022
2022
£
£
£
1,328,564
1,320,993
2,927
9,001
9,001
-
34,045
52,011
9,417
(310,021)
(308,438)
-
1,061,589
1,073,567
12,344		 Total
2022
£
1,323,920
9,001
61,428
(308,438)
1,085,911

21 Related party transactions

At the balance sheet debentures of £31,500 (2022 - £34,820) were owed to 3 (2022 - 4) trustees.

The interest charged on these debentures during the year amounted to £713 (2022 - £953).

22 Subsidiaries

These financial statements are separate charity financial statements for 31 March 2023.

Details of the charity's subsidiaries at 31 March 2023 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 (15,671) (99,845)

As noted above the subsidiary company, at the balance sheet date, has net liabilities of £99,845 and a balance of £71,788 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.