OpenCharities

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

← Coventry And North Warwickshire Sports Club

2024-03-31-accounts

Charity registration number 1171594

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

CONTENTS

Page
Trustees report 1 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 23

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

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 2024

Achievements and performance

Club Overview

In January 2024 a new club manager was appointed. The year also saw the introduction of a new online cloudbased membership system.

Bridge Section

Over the past year bridge membership has remained fairly steady. The section ran two beginner courses during the year, feeding more players into the gentler club sessions while intermediate lessons have continued for existing players.

We ran two competitions on behalf of Warwickshire Contract Bridge Association, both of which were well attended. The first was for novice players, playing in teams of four with a mentor and the second was the Warwickshire heat of the ‘Teams of 8 Competition’ - the Garden Cities Trophy. The Coventry A team won this heat and went on to play in the final, where they finished third. Coventry hosted the final for the EBU in June.

Outreach to the community has continued with our small Bridge room being upgraded by the consortium of local GP practices, who use it as a meeting room during the day, whilst Bridge use it in the evening and on weekends. As part of the upgrade the corridor and break-out area was also redecorated and new flooring laid.

A very successful Café Bridge event was held in Coventry City Centre in June, and we also held two very popular afternoon tea and Bridge events at the club - as a result we now have 25 recruits for the beginner classes.

Cricket

The cricket section held two Chance to Shine Festivals during the early summer season, attracting children from 10 local Coventry Junior Schools. The first day was for Year 4 pupils and the second was for Year 5 pupils.

From May through to August our cricket section ran junior coaching for beginners every Friday evening from 6 – 7.30pm, starting with the national scheme for 5 to 7-year-olds called ‘All Stars’. For the 8 to 11-year-olds we ran a second-year course set up by the ECB called ‘Dynamos’. Both of these courses were highly successful with over 70 children attending.

We also ran club coaching for 12 to 13-year-olds where around twenty boys and girls attended. Then later in August we ran a coaching course for girls of the ages 8 to 14 - this was also very well attended. Going forward the plan is to develop more coaching for girls with the aim of forming a girls’ team for next season.

During the school summer holidays we ran four Summer Holiday Coaching Courses at which a total of over 120 children attended. This is in addition to the junior cricket teams that we field for Under 9, 11, 13, 15, 17 and 19s. In the summer of 2023 we also hosted a number of Warwickshire County Cricket Club representative teams.

From January cricket ran winter coaching nets which continued through to the end of March where on average fortyplus juniors attended weekly coaching sessions over the 10 weeks.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Netball

The netball section goes from strength to strength! The 2023/24 season was another successful season for C&NW Netball which saw bigger squads and a record number of ladies accessing training sessions with 5 teams competing in local leagues at various levels by the end of the season in April 2024.

Coaching is regularly provided for both adults and children from the local area, we have hosted many of the league workshops and meetings at our club house, showcasing our facilities to wider netball members across the county.

Squash

During this last year the Squash section has continued to network and build relationships with local schools, GP Practices and also Coventry University.

Pupils from a local school run two of their PE sessions each week at the club and use our sports facilities including the gym, squash and tennis courts while Coventry University students regularly use the squash courts for their sessions.

The squash professional continues to host a ‘Let’s Get Moving’ exercise group every Wednesday for elderly patients with mobility issues who have been referred by a local GP. It’s popularity keeps growing with the number of regular users increased to 18. It is hoped this will be rolled out to other GP practices.

A community boxing club continues to use a squash court on a regular basis delivering fitness & boxing training to the local community.

Open ‘taster’ sessions have been run to introduce members of the public to squash and racketball and we encourage participation and recruitment through squash ‘club nights’ every Sunday evening for both members & non-members.

Other squash community initiatives include hosting ‘Squash from the Mosque’ and mixed abilities sessions for SEN Young People.

The Squash club provide Junior coaching sessions every Saturday morning with 15 to 20 attendees per week.

Tennis

The Tennis section has continued to provide a range of 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 were held on Tuesday evenings. 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.

We have approximately 55 juniors taking part in Saturday morning coaching sessions, regularly playing internal matches and some team matches against other local clubs.

General

With the aid of a £10,000 grant, solar panels were fitted on a roof at the Club which has made a significant saving in electric costs.

The Club has continued to be a base for some local community groups including art classes, baby sensory sessions and a film club.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Financial review

The accounts show a surplus of £39,473 (2023 - £24,322 deficit) for the year.

At the balance sheet date total fund balances were £1,101,062 (2023 - £1,061,589). Of these balances £13,701 (2023 - £14,260) 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 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.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Thg trustaes th) s8Thed dLwir¥J the year ar￿ up to Ihe date of wgnalure ol the finalvd stslements werg: J Gaffn8y- Chair P Morgan- Vice dir J Hill- Treasurer J McLanaghan- Se A Ridgway D Robinson L Brovm 8 81undeN O MGLanagh8n Sindair Tay J (￿￿n N Davies B Mortey K Burrows IApFxJniod 13 June 20241 (Resi￿ed 12 August 20241 (Winted 12 October 20231 IApw'nled 9 Novernber 20231 IRe5igned 12 June 20231 {Resigned 14 August 2023) IApFx)inled 12 September 20241 (Apwinled 12 September 20241 (A￿)In10d 12 Seplemt¢r 20241 The bjard of trustees meet regularty ￿ the purpthes of disrAJSgrKJ th• cAanty'$ affairs and docasion maktng. Induction and Tr•inig ot Trust4•s New tnjstees undergo a perK￿ of orientst1￿ to brief them cffj legal obligalions d￿rity law. the content of th8 g¢)veming do¢um8nt, tho committee aThJ dea￿On makiryJ procew, Ihe buwne55 arml rscènt finand81 performance of the Charity. During Ihè iThluctK>n Ihey meet key personnel and other trustees. TnJ5tees are encouraged to attend apprcyi8te exlemal trainirwj 8v￿ts W￿r& th8S8 wll fao"lrtate th8 undartaking of their rde. The trust s report was approve(I by the BLwr¢ of TnKste8S. J Hill Trust•• Date: -]- 2£

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB I report to the trustee8 ￿ my examinabon of Ihe Ilnarthl slaternents of Coventy and NLYlh Warwickshire Sp(Yts Club Ilhe charlty) for tho year ended 31 March 2024. R￿ponSIbIlItIl and ba•1 of r•pgrt As the trustees of the chartty ￿ ara Tesponwble for the preparati￿ of the flnanaal statthxents In 0￿rd$￿e wFth the wulremen15 of the Charities Acl 2011 Ilhe 2011 Act). l rnp)rt In respect of my examinin of th& charity's flnarK¥al $latemonts caryled crt undor sectlon 145 of tho 2011 A¢L In Carr￿n0 out my examlnaliw I have followed all Ihe appli¢able Eirectic￿S L4ven by thè Chartty Comml¥slDn undèr 68¢t1￿ 145tSXbl of tho 2011 ACL Ind•￿nd•￿t •xamln•fs •t•t•m•nt Your attentlon Is drawn lo the fact that Ihe charity ha8 pwared financ4al ststemwts vAth Accourrtlng and Reporung by Charties prep8rlng thdr accwnts In aC￿danCe with the Financlal Rèportlng Standard appllcable In the UK Republic ol Ireland {FRS 1021 In preference to the Aec4JJntlng and Reprrting by CharS116s.' Statement of Recommend&J Pr8Gkn Issued on 1 Awll 2005 th1th Is relerred tr) In the exlanl ragulafjons but has now been vlthdrawn. l understand that thls h•8 beon dono in fof finand41 ststsments to provlde a true and f8lr view In accc¥danc wlth GOr￿raIlYAWted Acc￿nting Pracuca effecuve for reportlng pknds bwdlnning on or after 1 January 2015. I have coryll•J my ex8￿n￿b¢)ts. I txrfm that no matters have come b my attentlon In connectlon wlth Ip examlnatlcn gI￿n9 me cause lo bel￿0 that In any mater181 resp8¢t accounvng records were not kèpl In resp￿1 of the charlty 85 requlrnd ty 8actr)n 130 of the 2011 Ac(. Qr the flnan¢i81 stalemenls do not a￿1￿ ¥￿th those records,. or fin8naal $latements do not c4)mpty with the appJkat4e requlraments concwnlng the form and content of acctymts set out in Ihg Chadtles {A￿nts and Reports) Regulatloft$ 2C)8 other than any requlremenl Ih•i th• accounts glve a true and falr whlch Is not a matter ￿n$￿jer0d as part of8n Independent examlnatlon. I hove no c<M)cems and have come atxoss no other rnatte￿ in connec11￿ wlth th8 examlnalion to which attention 8Tr￿1d bo drawn In thls report In txder to enable 8 pxudorstsnding of the finan$￿ stalaments lo be reathryd. RobertAnderson FCA Azats Audlt S•rvlc•• 3McMlddlgm8rth Busfne88 Parf( Slskln Ddvo Coventy CV3 4FW

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and
legacies
3
12,028
10,000
Charitable activities
4
150,813
-
Investments
5
24,154
-
Other income
6
6,782
-
Total income
193,777
10,000
Expenditure on:
Charitable activities
7
163,745
559
Net incoming/(outgoing)
resources before
transfers
30,032
9,441
Gross transfers
between funds
10,000
(10,000)
Net income/(expenditure)
for the year/
Net movement in funds
40,032
(559)
Fund balances at 1 April
2023
1,047,329
14,260
Fund balances at 31
March 2024
1,087,361
13,701		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
22,028
11,199
2,500
150,813
135,186
-
24,154
25,459
-
6,782
6,753
-
203,777
178,597
2,500
164,304
204,835
584
39,473
(26,238)
1,916
-
-
-
39,473
(26,238)
1,916
1,061,589
1,073,567
12,344
1,101,062
1,047,329
14,260		 Total
2023
£
13,699
135,186
25,459
6,753
181,097
205,419
(24,322)
-
(24,322)
1,085,911
1,061,589
Donations and
legacies
3
Charitable activities
4
Investments
5
Other income
6
Total income
Expenditure on:
Charitable activities
7
Net incoming/(outgoing)
resources before
transfers
Gross transfers
between funds
Net income/(expenditure)
for the year/
Net movement in funds
Fund balances at 1 April
2023
Fund balances at 31
March 2024

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 MARCH2024 2024 2023 Flx•d a83•1• TangiNe assets Investments 12 13 1,335.694 9.C(11 1.328.564 9.C(11 1.344.695 1.337.565 Currnnt •88•ts Debtors Cash 81 bank and in haThl 14 97.076 gJ.193 62.943 146.$31 187,269 Cr•dltor4: amourts falNng duo wlthln ¢)n• year 16 1140.543} 1153,2241 Net cuffent assets 34,045 Total ass•ts curr•nt Ilabllltl•s 1.3YJ.683 1.371,610 Cr•dliorn.' •mounts f•115ng du• thr more than orv4 y•ar 17 1249,6211 1310.021) 1.101,C62 1,061,589 In¢om• fund8 Re3tn'cted fvnds U*Yestricted fund$ 19 13,701 1.087.361 14.260 1.047.329 1.1ol.L￿2 1,061,589 The finan Bl state -/-Z

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 2024

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 2024

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 2024

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
12,028
-
Local grants receivable
-
10,000
12,028
10,000		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
12,028
11,199
-
10,000
-
2,500
22,028
11,199
2,500		 Total
2023
£
11,199
2,500
13,699

Grant income represents amounts of £10,000 for assistance in the purchase of solar panels for the club.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

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		 2024
£
29,938
27,522
19,337
14,579
1,477
36,781
21,179
150,813		 2023
£
27,130
22,310
15,372
10,937
1,350
35,354
22,733
135,186

5 Investments

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Rental income 22,910 24,591
Interest receivable 1,244 868
24,154 25,459

6 Other income

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Other income 305 406
Phone mast income 1,030 1,030
Profit from 500 club 5,447 5,317
6,782 6,753

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7 Charitable activities

Charitable activities
General
overheads
2024
£
Depreciation and impairment
-
Light and heat
-
Repairs and maintenance
-
Cleaning
-
Telephone
-
Printing and stationery
-
Computer and software expenses
-
Sundries
-
Games expenses (see note 7a)
-
Recharged payroll expenses
-
Sports TV and alarm system
-
-
Share of support costs (see note 8)
50,277
Share of governance costs (see note 8)
3,015
53,292
Analysis by fund
Unrestricted funds
53,292
Restricted funds
-
53,292		 Ground
upkeep
Clubhouse
managemen
t
Building
upkeep
Games
expenses
2024
2024
2024
2024
£
£
£
£
-
-
-
559
-
8,758
-
-
12,461
215
4,440
-
-
12,750
-
-
-
(1,174)
-
-
-
177
-
-
-
1,446
-
-
-
1,803
-
-
-
-
-
49,237
-
3,650
-
7,804
-
8,886
-
-
12,461
36,511
4,440
57,600
-
-
-
-
-
-
-
-
12,461
36,511
4,440
57,600
12,461
36,511
4,440
57,041
-
-
-
559
12,461
36,511
4,440
57,600		 Total
2024
£
559
8,758
17,116
12,750
(1,174)
177
1,446
1,803
49,237
11,454
8,886
111,012
50,277
3,015
164,304
163,745
559
164,304		 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

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7 Charitable activities

(Continued)

7a Games expenses

Total games expenses were £49,237 (2023 - £58,478) and relate to the following sections:

Bridge: £7,343 (2023 - £7,115) Cricket: £22,372 (2023 - £20,646) Leisure £0 (2023 - £411) Netball £9,741 (2023 - £8,169) Squash £5,893 (2023 - £14,364) Tennis £3,888 (2023 - £7,834)

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7 Charitable activities

(Continued)

For the year ended 31 March 2023

General
overheads
£
Depreciation and
impairment
-
Light and heat
-
Repairs and maintenance
-
Cleaning
-
Telephone
-
Computer and software
expenses
-
Sundries
-
Games expenses (see note
7a)
-
Recharged payroll
expenses
-
Sports TV and alarm
system
-
-
Share of support costs (see
note 8)
61,761
Share of governance costs
(see note 8)
2,600
64,361
Analysis by fund
Unrestricted funds
64,361
Restricted funds
-
64,361		 Ground
upkeep
Clubhouse
management
Building
upkeep
Games
expenses
£
£
£
£
-
-
-
146
-
9,338
-
-
12,831
159
7,655
-
-
23,034
-
-
-
1,763
-
-
-
3,249
-
-
-
5,246
-
-
-
-
-
58,478
-
3,650
-
7,801
-
7,708
-
-
12,831
54,147
7,655
66,425
-
-
-
-
-
-
-
-
12,831
54,147
7,655
66,425
12,831
54,147
7,655
65,841
-
-
-
584
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

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8 Support costs

Support
costs
Governance
costs
£
£
Bank charges
195
-
Interest payments
4,877
-
Rates and water
8,030
-
Fire and safety
232
-
Club manager
5,876
-
Insurance
3,557
-
Administrative and
secretarial
4,772
-
Membership expenses
11,350
-
Depreciation
10,133
-
HR expenses
1,255
-
Accountancy fees
-
3,015
50,277
3,015
Analysed between
Charitable activities
50,277
3,015		 2024
Support
costs
Governance
costs
£
£
£
195
312
-
4,877
3,050
-
8,030
8,877
-
232
667
-
5,876
11,591
-
3,557
3,139
-
4,772
15,075
-
11,350
9,400
-
10,133
8,395
-
1,255
1,255
-
3,015
-
2,600
53,292
61,761
2,600
53,292
61,761
2,600		 2023
£
312
3,050
8,877
667
11,591
3,139
15,075
9,400
8,395
1,255
2,600
64,361
64,361

Governance costs represents payments made to the accountants for completion of the independent examination.

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 (2023 – one employee) 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 (2023 – two employees) who work part of their time for the Charity. The total amount of these recharges was £5,876 (2023 - £15,803).

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 2024

12 Tangible fixed assets

Freehold land
and buildings
£
Cost
At 1 April 2023
1,251,907
Additions
17,823
At 31 March 2024
1,269,730
Depreciation and impairment
At 1 April 2023
-
Depreciation charged in the year
-
At 31 March 2024
-
Carrying amount
At 31 March 2024
1,269,730
At 31 March 2023
1,251,907		 Outdoor
equipment
Fixtures and
fittings
£
£
29,733
21,421
-
-
29,733
21,421
20,056
10,462
1,840
2,042
21,896
12,504
7,837
8,917
9,677
10,959		 Indoor
equipment
£
60,345
-
60,345
13,155
5,044
18,199
42,146
47,190		 Leisure
equipment
£
15,315
-
15,315
6,484
1,767
8,251
7,064
8,831		 Total
£
1,378,721
17,823
1,396,544
50,157
10,693
60,850
1,335,694
1,328,564

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

13 Fixed asset investments

Cricket
memorabilia
Other
investments
£
Cost or valuation
At 1 April 2023 & 31 March 2024
9,000
1
Carrying amount
At 31 March 2024
9,000
1
At 31 March 2023
9,000
1
2024
Other investments comprise:
Notes
£
Investments in subsidiaries
22
1
14
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
4,477
Amounts owed by subsidiary undertakings
75,789
Other debtors
3,322
Prepayments and accrued income
-
83,588
15
Loans and overdrafts
2024
£
Debenture loans
154,714
Bank loans
47,967
202,681
Payable within one year
75,500
Payable after one year
127,181		 Total
£
9,001
9,001
9,001
2023
£
1
2023
£
8,731
71,787
10,451
6,107
97,076
2023
£
182,214
61,421
243,635
70,394
173,241

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 2024

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		 2024
£
10,000
65,500
14,340
12,521
38,182
140,543
2024
£
37,967
89,214
122,440
249,621
2024
£
136,780
2024
£
14,340
122,440
136,780		 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

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 2024

18
Deferred income
Deferred income at 1 April 2023
Released from previous periods
Deferred income at 31 March 2024		 (Continued)
151,120
165,460
(14,340)
(14,340)
136,780
151,120

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.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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 Transfers Balance at
1 April 2022 resources expended 1 April 2023 resources expended 31 March 2024
£ £ £ £ £ £ £ £
Bridge fund 9,522 - (584) 8,938 - (139) - 8,799
Club driveway repairs 2,822 - - 2,822 - - - 2,822
Mower - 2,500 - 2,500 - (420) - 2,080
Solar panels - - - - 10,000 - (10,000) -
12,344 2,500 (584) 14,260 10,000 (559) (10,000) 13,701

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.

Solar panels

To assist in the purchase of solar panels.

COVENTRY AND NORTH WARWICKSHIRE SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

20
Analysis of net assets between funds
Unrestricted
Restricted
2024
2024
£
£
Fund balances at 31
March 2024 are
represented by:
Tangible assets
1,331,372
4,322
Investments
9,001
-
Current assets/(liabilities)
(3,391)
9,379
Long term liabilities
(249,621)
-
1,087,361
13,701		 Total Unrestricted
Restricted
2024
2023
2023
£
£
£
1,335,694
1,323,683
4,881
9,001
9,001
-
5,988
24,666
9,379
(249,621)
(310,021)
-
1,101,062
1,047,329
14,260		 Total
2023
£
1,328,564
9,001
34,045
(310,021)
1,061,589

21 Related party transactions

At the balance sheet debentures of £26,000 (2023 - £31,500) were owed to 2 (2023 - 2) trustees.

The interest charged on these debentures during the year amounted to £1,040 (2023 - £713).

22 Subsidiaries

These financial statements are separate charity financial statements for 31 March 2024.

Details of the charity's subsidiaries at 31 March 2024 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 23,222 (76,623)

As noted above the subsidiary company, at the balance sheet date, has net liabilities of £76,623 and a balance of £75,789 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.