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2022-06-30-accounts

Registered in England Charity No. 1172480

WYMONDHAM COMMUNITY RUGBY TRUST

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

WYMONDHAM COMMUNITY RUGBY TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

CONTENTS

Page
Trustees' report 1-8
Audit Report 9-11
Consolidated Statement of financial activities 12
Consolidated Balance sheet 13
Parent Balance sheet 14
Consolidated Statement of cash flows 15
Parent Statement of cash flows 16
Notes to the financial statements 17-32

WYMONDHAM COMMUNITY RUGBY TRUST TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2022

The trustees present their report and financial statements for the year ended 30 June 2022

Reference and administrative information

Registered charity name Wymondham Community Rugby Trust
Charity number 1172480
Registered address Wymondham RFC
Barnard Fields
Bray Drive
Wymondham
Norfolk
NR18 0GQ
Trustees Peter Barry
Paul Wootton (appointed 19 May 2022)
Peter Agate (appointed 4 August 2022)
Martin Lewis (resigned 19 May 2022)
Peter Hill (resigned 19 May 2022)
Terry Gant (resigned 19 May 2022)
Finbar Conway (appointed 19 May 2022)
Colin Evans
David Clover
Duncan Anderson Brown
Dr John Snape
Anita Coleman
Accountant DD Accountancy Limited
Suite One, The Old Dairy
Elm Farm Business Park
Wymondham
Norfolk
NR18 0SW
Auditor Price Bailey LLP
Anglia House, 6 Central Avenue
St Andrews Business Park
Thorpe St Andrew
Norwich
NR7 0HR
Bankers Barclays Bank plc
45 Market Street
Wymondham
Norfolk
NR18 0AL
Solicitors Howes Percival LLP
Flint Buildings
1 Bedding Lane
Norwich
Norfolk
NR3 1RG

Page 1

WYMONDHAM COMMUNITY RUGBY TRUST TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2022

OBJECTIVES AND ACTIVITIES

  1. To promote the participation in healthy recreation for public benefit in Wymondham and South Norfolk and their surrounding communities by providing facilities and coaching for the playing of amateur rugby.

  2. To provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, or social and economic circumstances.

  3. To provide facilities for the public at large in the interests of social welfare and with the object of improving their conditions of life.

PUBLIC BENEFIT

The Trustees have considered the Charity Commission's guidance on public benefit, and confirm that in planning and carrying out the Trust's activities they have had regard to this guidance.

ACHIEVEMENTS AND PERFORMANCE

Financial Management

Financial Review

This was the first “business as usual” (in reference to the impact of Covid-19) year at the Club since moving to Barnard Fields. It was successful from both a financial and rugby perspective.

The Trust operate the rugby and charitable activities, whilst commercial operations are undertaken by the trading subsidiary, Wymondham RFC Trading Ltd (company number 11525763). The expectation being that the latter funds contributes towards funding the activities of the former.

Consolidated Position

The Consolidated position includes both the Trust and Trading Company. Total income (Consolidated position) amounted to £682,938 (2021: £4,482,247) and after expenditure of £661,407 (2021: 275,729), the net movements in funds for the year amounted to a surplus of £21,531 (2021: £4,206,518). The financial performance in 2020/2021 was skewed by an exceptional donation and recognition of Barnard Fields in the accounts. 2021/2022 is considered to be a more reasonable indicator of future performance.

The Trustees consider the financial position at the period end to be satisfactory and confirm that the Trust can meet all known obligations.

Trading Subsidiary (Wymondham RFC Trading Ltd)

Due to the levels of other trading activities the Trust operates a trading subsidiary 'Wymondham RFC Trading Ltd' (company number 11525763) which commenced trading from 1st July 2019 . The Trust owns 100% of the shares in Wymondham RFC Trading Ltd, which is incorporated in the UK.

Total income amounted to £371,494 (2021: £114,084) and after expenditure of £243,091 (2021: £83,394), the net profit £128,403 (2021: £30,690) which has been included as a gift aid donation to the Trust.

Page 2

WYMONDHAM COMMUNITY RUGBY TRUST TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2022

Financial management

The Club produces annual budgets, with are periodically reviewed during the trading period in light of updated management information and key performance indicators. These budgets and associated management information are shared with the Board of Trustees regularly, and there are clear control protocols in place around payments, capital purchases and cash management to ensure the financial assets of the Club remain well managed.

Risk Management

Overarching approach

The Trustees are responsible for the management of the risks faced by the Trust. Risks are identified, assessed and controls are established throughout the year and formal review of the charity's risk management processes is undertaken on an annual basis. The major risks identified by this process have been mitigated to an acceptable level by internal control systems, insurance cover and other factors as appropriate.

The Business Risk Model operated by the charity focuses on five key areas: Risk Identification, Risk Mitigation, Strategic Risks, Core Risks, and the Risk Register.

The fundamental risks facing the charity are:

• During the reporting period the charity has adopted a risk-based operational approach taking into consideration the ongoing impact of the pandemic and associated guidance from relevant statutory bodies, Public Health England, and the Rugby Football Union, with an emphasis on the wellbeing of the Club community to ensure the safe delivery of rugby activities on site whenever possible.

Financial risks and reserves policy

The Club currently has unrestricted current assets of £353.700 (2021: £357,510). The Trustees propose that reserves totalling £150,000 are held to cover income, expenditure, and known strategic risks to the financial position of the Trust. Reserves above £150,000 together with dedicated fundraising can be invested in new capital projects, subject to Board approval.

Data risks

To help mitigate data risks the Club has moved to Google Workspace for its email hosting, digital file management and productivity suite. As a registered charity, the Trust gets all the functionality of Google Workspace free, thus reducing operating cost. It also provides a secure centralised digital file management system with different levels of access allowing sharing and access of information throughout the organisation ensuring control compliance. Productivity tools including centralised data, mail, calendar, and contacts with the potential to significantly improve efficiency and effectiveness of communication in the Club which is heavily reliant on volunteers. It also contributes to GDPR and safeguarding compliance.

Page 3

WYMONDHAM COMMUNITY RUGBY TRUST TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2022

Playing Report

Senior Rugby - Men

This season the senior men faced many challenges with Covid-19 still impacting throughout, with an increasingly long injury list, and with cancellations on several occasions. This has not been exclusive to Wymondham but has been the case for many clubs up and down the country.

A new group of players brought a whole new dynamic to the squad, with our expectations high before the season started. We aimed for another top four finish in London Northeast Two and finished in 6th.

A total of 46 players were involved with the 2nd team, and 36 players with the 1st team. We do have depth within the Squad; however, it is imperative that we recruit well over the off-season. This has started with a promotional video show- casing the facilities at the Club and what it means to play for Wymondham.

We are extremely excited to see what the new season brings with the league restructuring, with players returning from long term injury, and a much more cohesive squad.

Senior Rugby - Women

This season has been full of ups and downs as expected. The season ended having lost a tough game in the Norfolk cup but walking off together as a unit looking out for each other.

We set our targets for the season on enjoyment and development. On development, we have seen every player grow and enhance their skill set both personally and to fit in with the team. New players have slotted in so well, and we are excited to see them coming back next year. We have picked up several new players who were brand new to the sport. We welcome some of our youth girls into our squad and look forward to integrating them fully with us.

Provisional leagues have been released for next season, which increase in size to 10 teams; and apart from Lakenham, all are in the Midlands or London, which will present similar challenges that we faced in previous seasons with regards to player availability for away games. Next season, we look to continue our development quest with a top 3/4 position.

Youth Rugby Report

Overall, it has been a successful year for WRFC Youth. The section recovered well post-Covid with strong numbers across the boy’s section, with two age groups (U13 and U14) regularly putting out two teams, and signs of growth in the girl’s section. Numbers in the girl’s sections have grown thanks to Billy’s school’s liaison work and coaching.

According to GMS, numbers across youth are 195 boys and 36 girls, which both show an increase from last season.

There were successful playing results for boys across all age groups, with all teams winning most games.

U13 – Reached top pool of EC U13’s finals, W2, D1, L1 U14 – County Cup Winners U15 – County Cup Winners U16 – County Cup Runners up

Colts – One of the top teams in the pre-Christmas merit competition. We had U18 and U17 players representing Eastern Counties and Norfolk.

Girl’s section participated successfully in Pitch up and Play competitions and had representation in the Eastern Counties squads.

Page 4

WYMONDHAM COMMUNITY RUGBY TRUST TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2022

Mini's Section Report

Following a couple of challenging years due to Covid, Mini’s have come back strongly in terms of enthusiasm and energy. With 195 children between the ages of 5 to 12, numbers are up around 10% on last year.

We have participated in a number of fixtures and festivals through the season, both home and away. Up to December, play was limited to using previous age grade rules. However, the second half of the season enabled teams to take on the correct rules for each age group, and this proved positive with subsequent matches.

Our festival in November was a huge success, held across 2 days to alleviate parking and congestion at the Club, with significant work completed beforehand to recruit pitch managers in order that the games ran to time. Despite some challenging weather, feedback from the festival was extremely positive and all children enjoyed the day.

In summary, Mini’s have had a fantastic season with lots of good rugby played and new recruits across all age groups. We are confident that this will continue into the 2022/23 season as normality returns and people are keen to get back to sport.”

Volunteering

Charlie Wootton continued in her critical role as Volunteer Coordinator. The hard work of many volunteers has been instrumental in supporting the Club’s financial security and reinforcing the culture which is so important to any amateur sports club.

Numerous tasks have been performed by people too numerous to mention. Whether it has been weeding, weed killing, Christmas lamb supplies, the Beer Festival, bar help at the weekends or at training or general maintenance, our army of volunteers have kept our Club functioning.

We will continue to push forward our “volunteer led” ethos at WRFC and view it as an essential part of who we are and how we will continue to be successful.

Looking Forward

We have enjoyed a positive return to rugby, social and commercial activities post the pandemic. The rugby ambition of the Club remains high and the 21/22 season saw good foundations built on within the adult section and strong progress for the youth.

Financial Outlook

The Trustees are very mindful of the impact of the ongoing economic shock of both the pandemic and the conflict in Ukraine and are determined to manage revenue streams to ensure continuity of the charitable aims and objectives whilst meeting obligations and maintaining the underlying core stability of the business model. With a robust level of working capital, a strong balance sheet, prudent cash flow management (and access to additional funding if needed) WRCT currently feel well-placed to address the current economic challenges whilst continuing to grow the club membership and providing a first-class rugby experience to the local community.

As part of the budgeting process for the next financial year we anticipated significant inflation across our cost base. Rising energy costs remain an area of concern, despite the Energy Price Guarantee announced by the government. Whilst an area to monitor on we do not believe it presents a going concern risk to the Club.

Page 5

WYMONDHAM COMMUNITY RUGBY TRUST TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2022

Club Purpose

It is the Trustees' intention that the Trust will continue to promote community participation in sport for the public benefit in Wymondham and South Norfolk and surrounding communities as described above.

The Club also looks forward to continuing its active cooperation and promotion of other sporting activities at the facilities at Barnard fields, including Wymondham Archers, cricket clubs, and other sports compatible with the club’s rugby training and playing schedules.

TRUSTEE AND MANAGEMENT CHANGES

The WCRT Constitution requires that at least 1/3 of the Trustees are elected annually, and thus at least three Trustees retire every year, but can stand for re- election. In the year 21/22, Anita Coleman, Terry Gant, and Peter Hill all retired at the end of their terms, and Martin Lewis stood down.

In line with Governance restructuring, Paul Wootton, Finbar Conway, Peter Agate and Anita Coleman were elected by approval of the members at the AGM, to serve for the period 2022-2025. Robert Barnard retired as President and John Mackay was elected as his replacement at the AGM.

Full management structure (all volunteers):

President – John Mackay Chair – Paul Wootton Treasurer – Finbar Conway Commercial Director – Pete Agate (appointed after y/end at an EGM) Club secretary – Anita Coleman

Membership secretary – William Good Director of Youth Rugby – David Clark Co-Directors of Mini Rugby – Nell Read and Dominic Parravani Club Safeguarding officer – Sally Lloyd Press officer – Andy Thomson Chair of Social Committee – Stephanie Samson Fixtures Secretary – David Coleman Chair of Grounds Sub-Committee – James Trounce Schools Liaison Officer – Kimberley Fearne Volunteer Coordinator – Charlie Wootton

Page 6

WYMONDHAM COMMUNITY RUGBY TRUST TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The club was originally established in 1972. On 1 April 2018 the activities of the Club were transferred into a Charitable Incorporated Organisation. The constitution was registered with the Charity Commission (registration number 1172480) on 7 April 2017 and further amended on 17 December 2019.

Appointment and recruitment of Trustees

According to the charity's constitution, the board of Trustees should consist of at least five and not more than nine individuals.

Trustees' induction and training

All trustees will be provided with copies of:

•The charity's constitution •The club Rules and Regulations

•Board of Trustees Handbook

•A copy of the latest consolidated financial statements

and the Trustee' are encouraged to read Charity Commission guidance notes CC3 - "The Essential Trustee: what you need to know, what you need to do".

In addition, Trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.

Governance

The Trustees of the Trust have diligently enacted the responsibilities of their appointments as defined by the Trust Constitution. The Trustees of WCRT held four formal meetings during the year, at three monthly intervals, to receive reports from Club Officials on all aspects of the running of the Club and to develop strategies and oversight policies moving forward.

Oversight included looking at development of Club objectives and strategy, financial performance, facilities management, risk management, performance of rugby and other sporting activities, fundraising, buildings and facilities maintenance, health and safety, safeguarding, commercial activities, and community activities and initiatives.

In addition, the Trustees held frequent informal meetings with Club officials to keep abreast of day-to-day developments and issues at the Club. All formal meetings were minuted, and reports on activities filed and maintained by the Secretary to the Board, and Club Secretary.

The Board of Trustee Handbook has been updated which outlines the statutory responsibilies and functions of the Board of Trustees ("Board"). It contains policies and prcedures to be followed by the Board in exercising their functions. The Handbook also outlines the relative responsibilities of the Board and Management Committee in the smooth running of the Club.

The Trustees have also developed new policies and procedures for staff appraisals, and Board Annual Performance management.

Page 7

WYMONDHAM COMMUNITY RUGBY TRUST TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2022

Statement of Trustees' responsibilities in relation to the Financial Statements

The Trustees are responsible for preparing the Trustees' annual report and the consolidated financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.

In preparing these financial statements, the Trustees are required to:

•select suitable accounting policies and then apply them consistently;

•observe the methods and principles in the Charities SORP 2019 (FRS 102);

•make judgements and estimates that are reasonable and prudent;

•state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

•prepare the financial statements on the going concern basis unless it is inapproriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the trust deed. They are also responsible. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the board

Duncan Brown (Jan 26, 2023, 3:52pm)

…......................................

Duncan Anderson Brown Trustee

Date:

26 Jan 2023

Page 8

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF

WYMONDHAM COMMUNITY RUGBY TRUST

Opinion

We have audited the financial statements of Wymondham Community Rugby Trust (the ‘parent charity’) and its subsidiary (the 'group') for the year ended 30 June 2022 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Parent Balance Sheet, the Consolidated Statement of Cashflows, the Parent Statement of Cashflows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Page 9

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF

WYMONDHAM COMMUNITY RUGBY TRUST

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement [set out on page 8], the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Page 10

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF

WYMONDHAM COMMUNITY RUGBY TRUST

Auditors responsibilities for the audit of the financial statements (continued)

A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-theauditor%E2%80%99s-responsibilities-for . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Price Bailey LLP (Statutory Auditor)

Anglia House 6 Central Avenue Broadland Business Park Thorpe St Andrew Norwich Norfolk NR7 0HR

Date: 26 January 2023

Price Bailey LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

Page 11

WYMONDHAM COMMUNITY RUGBY TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES THE INCOME AND EXPENDITURE ACCOUNT

Unrestricted
Funds 2022
Notes
£
INCOME
Donations
2
72,241
Charitable activities
3
101,322
Other trading activities
4
509,304
Investment income
5
71
Other income
6
-
TOTAL INCOME
682,938
EXPENDITURE
Costs of raising funds
7
(329,123)
Charitable activities
8
(332,284)
TOTAL EXPENDITURE
(661,407)
NET INCOME BEOFRE
TRANSFER OF FUNDS
21,531
NET MOVEMENT IN FUNDS
21,531
RECONCILIATION OF FUNDS
Total funds at 1 July 2021
4,539,016
TOTAL FUNDS 30 June 2022
4,560,547		 Restricted
Funds 2022
£
-
-
-
-
-
-
-
-
-
-
-
5,000
5,000		 Total Funds
2022
£
72,241
101,322
509,304
71
-
682,938
(329,123)
(332,284)
(661,407)
21,531
21,531
4,544,016
4,565,547		 Total Funds
2021
£
1,931,846
68,063
102,284
67
2,379,987
4,482,247
(70,196)
(205,533)
(275,729)
4,206,518
4,206,518
337,498
4,544,016

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

The notes on pages 17 to 32 form part of these financial statements.

Page 12

WYMONDHAM COMMUNITY RUGBY TRUST CONSOLIDATED BALANCE SHEET AT 30 JUNE 2022

Notes
FIXED ASSETS
Investments
15
Tangible fixed assets
16
CURRENT ASSETS
Stocks
17
Debtors
18
Cash at bank and in hand
Creditors: Amounts falling due
19
within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
Creditors: Amounts falling due
20
after one year
NET ASSETS
FUNDS OF THE CHARITY
Restricted funds
Unrestricted funds
TOTAL CHARITY FUNDS
21		 2022
2021
£
£
£
£
-
-
4,263,612
4,304,988
4,263,612
4,304,988
11,441
9,504
12,940
40,200
334,319
312,806
358,700
362,510
(56,765)
(76,954)
301,935
285,556
4,565,547
4,590,544
-
(46,528)
4,565,547
4,544,016
5,000
5,000
4,560,547
4,539,016
4,565,547
4,544,016

26 Jan 2023

The financial statements were approved by the Trustees on …………………………….. and are signed on their behalf by:

Duncan Brown (Jan 26, 2023, 3:52pm)……………………….. ………………………..Finbar Conway Duncan Anderson Brown ~~Finbar Conway~~ Finbar Conway (Jan 26, 2023, 3:56pm) Chair of Trustees Trustee

The notes on pages 17 to 32 form part of these financial statements.

Page 13

WYMONDHAM COMMUNITY RUGBY TRUST PARENT BALANCE SHEET AT 30 JUNE 2022

Notes
FIXED ASSETS
Investments
15
Tangible fixed assets
16
CURRENT ASSETS
Stocks
17
Debtors
18
Cash at bank and in hand
Creditors: Amounts falling due
19
within one year
NET CURRENT ASSETS
NET ASSETS
FUNDS OF THE CHARITY
Restricted funds
Unrestricted funds
TOTAL CHARITY FUNDS
21		 2022
2021
£
£
£
£
1
1
4,263,612
4,304,988
4,263,613
4,304,989
-
-
154,917
95,487
181,468
194,527
336,385
290,014
(34,451)
(50,987)
301,934
239,027
4,565,547
4,544,016
5,000
5,000
4,560,547
4,539,016
4,565,547
4,544,016

26 Jan 2023

The financial statements were approved by the Trustees on ……………………………….. and are signed on their behalf by:

~~………………………..~~
Duncan Anderson Brown
Chair of Trustees
Duncan Brown (Jan 26, 2023, 3:52pm)		 ………………………..
Finbar Conway
Finbar Conway
Trustee
Finbar Conway (Jan 26, 2023, 3:56pm)

The notes on pages 17 to 32 form part of these financial statements.

Page 14

WYMONDHAM COMMUNITY RUGBY TRUST CONSOLIDATED STATEMENT OF CASHFLOWS

FOR THE YEAR ENDED 30 JUNE 2022

CASH FLOWS FROM OPERATING ACTIVITIES
Net income
Adjustments for:
Depreciation of tangible fixed assets
Profit on sale of fixed assets
Net donation for loan write off
Other interest receivable and similar income
Decrease / (increase) in stocks
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received
Proceeds from the sale of tangible assets
Purchase of tangible assets
Net cash arising from investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of loans
New loans provided
Net cash arising from financing activities
NET INCREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS AT END OF YEAR
The net debt note is included in note 23
The notes on pages 17 to 32 form part of these financial statements.		 2022
£
21,531
53,092
-
-
(71)
(1,937)
27,260
(66,717)
33,158
71
-
(11,716)
(11,645)
(50,000)
-
(50,000)
21,513
312,806
334,319		 2021
£
4,206,518
52,193
(2,362,462)
(1,800,000)
(67)
(1,442)
83,679
35,315
213,734
67
2,600,000
(23,069)
2,576,998
(2,600,000)
50,000
(2,550,000)
240,732
72,074
312,806

Page 15

WYMONDHAM COMMUNITY RUGBY TRUST PARENT STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 30 JUNE 2022

CASH FLOWS FROM OPERATING ACTIVITIES
Net income
Adjustments for:
Depreciation of tangible fixed assets
Profit on disposal of fixed assets
Net donation for loan write off
Other interest receivable and similar income
Decrease / (increase) in stocks
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received
Proceeds from the sale of tangible assets
Purchase of tangible assets
Net cash arising from investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of loans
New loans provided
Net cash arising from financing activities
NET INCREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS AT END OF YEAR
The net debt note is included in note 23
The notes on pages 17 to 32 form part of these financial statements.		 2022
£
21,531
53,092
-
-
(71)
-
(59,430)
(16,536)
(1,414)
71
-
(11,716)
(11,645)
-
-
-
(13,059)
194,527
181,468		 2021
£
4,206,518
52,193
(2,362,462)
(1,800,000)
(67)
6,000
46,718
23,656
172,556
67
2,600,000
(23,069)
2,576,998
(2,600,000)
-
(2,600,000)
149,554
44,973
194,527

Page 16

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

1 ACCOUNTING POLICIES

(a) General information

The charity is a public benefit entity and a registered charity in England and Wales and is unicorporated. The address of the principal office is Wymondham RFC, Barnard Fields, Bray Drive, Wymondham, Norfolk, NR18 0GQ.

(b) Statement of compliance

The consolidated financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Charities Act 2011 and UK Generally Accepted Accounting Practise.

The charity constitutes a public benefit as defined by FRS 102.

(c) True and fair override

The accounts (financial statements) have been prepared to give a "true and fair" view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a "true and fair" view. This departure has involved following Accounts and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than Accounting and Reporting by Charities: Statement of Recommended Practise effective from 1 April 2005 which has since been withdrawn.

(d) Basis of preparation

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

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

(e) Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that there are no material uncertainties exist. The trustees have considered all levels of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be to continue as a going concern.

Page 17

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

1 ACCOUNTING POLICIES (continued)

(f) Basis of consolidation

The group financial statements consolidate the financial statements of the charity and its wholly owned subsidiary Wymondham RFC Trading Ltd (company number 11525763) for the year ended 30 June 2022 and comparatives for the year ended 30 June 2021.

Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by the Group. All intra-group transactions, balances, income and expenditure are eliminated on consolidation. The consolidation has been completed on a line by line basis.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

(g) Fund accounting

Unrestricted funds

These are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds

These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

(h) Income

All income is included in the statement of financial activities when entitlement hass passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be reliably measured.

• income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Page 18

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

1 ACCOUNTING POLICIES (continued)

(i) Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered under the VAT partial exemption rules, and is classified under the headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that futher its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expeniture that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

(j) Critical accounting judgements and key sources of estimaton uncertainty

In the application of the Group's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimations and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are not based on historical experience and other factors that are considered to be relevant.

The estimates and underlying assumptions are reviewed on an ongoing basis, revisions to accounting estimates are recognised in the period which the estimate is revised if the revisions affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Aside from the depreciation applied to the Groups's fixed assets (as highlighted in the tangible asset accounting policy, the trustees do not consider there to be any critical judgements or sources of estimation uncertainty within the financial statements.

(k) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 1% straight line

Freehold land - held at cost

Plant and machinery - 15% reducing balance

Equipment - 15% reducing balance

(l) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

Page 19

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

1 ACCOUNTING POLICIES (continued)

(m) Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly likely liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

(n) Pension scheme

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payment obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently adminstered funds.

(o) Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

(p) Stocks

Stocks are made up of bar and club shop stocks and are valued at the lower of cost and net realisable value after making do allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

(q) Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(r) Financial instruments

A financial asset or a financial liability is only recognised when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount reciveable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost.

(s) Investments

Investments are a form of basic financial instrument and in the current year relate to shares in the trading subsidiary which are carried at cost.

Page 20

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

2
DONATIONS
Donations
Sponsorship
Grants received
Donations and grants
Donations
Sponsorship
Grants received
Donations and grants		 Unrestricted
Funds
2022
£
22,291
44,550
5,400
72,241
2021
£
1,826,509
14,245
36,092
1,876,846		 Restricted
Funds
2022
£
-
-
-
-
2021
£
5,000
-
50,000
55,000		 Total
2022
£
22,291
44,550
5,400
72,241
2021
£
1,831,509
14,245
86,092
1,931,846

Included within grants received is amounts received from government funding amounting to £Nil (2021: £36,092). Further information on the split of restricted and unrestricted funds found in note 20

Included within donations for 2021 is a one off extraordinary donation form an individual amounting to £1,800,000. This donation represents the difference between the sale of Tuttles Lane (£2,600,000) and the amounts preivously loaned to the charity for the construction of the new principal office on Barnard Field (£4,400,000).

3 INCOME FROM CHARITABLE ACTIVITIES

Subscriptions
Fundraising (non-event)
Schools income
Mini's and youth income
Subscriptions
Fundraising (non-event)
Schools income		 Unrestricted
Funds
2022
£
70,426
5,830
6,680
18,386
101,322
2021
£
57,101
7,432
3,530
68,063		 Restricted
Funds
2022
£
-
-
-
-
-
2021
£
-
-
-
-		 Total
2022
£
-
70,426
5,830
6,680
18,386
101,322
2021
£
57,101
7,432
3,530
68,063

Page 21

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

4
OTHER TRADING ACTIVITIES
Bar sales
Kitchen sales
Shop sales
Beer festival income
Fireworks event income
Annual dinner event income
Other fundraising event income
Refreshments and pre match lunches
Facilities rental
Total trading income
Bar sales
Kitchen sales
Shop sales
Refreshments and pre match lunches
Facilities rental
Total trading income
5
INVESTMENT INCOME
Bank interest received
Bank interest received		 Unrestricted
Funds
2022
£
227,490
13,998
6,103
24,664
20,713
69,638
2,909
57,605
86,184
509,304
2021
£
46,531
2,433
9,137
5,131
39,052
102,284		 Restricted
Funds
2022
£
-
-
-
-
-
-
-
-
-
-
2021
£
-
-
-
-
-
-
Unrestricted
Funds
2022
£
71
2021
£
67		 Total
2022
£
227,490
13,998
6,103
24,664
20,713
69,638
2,909
57,605
86,184
509,304
2021
£
46,531
2,433
9,137
5,131
39,052
102,284
Total
Funds
2022
£
71
2021
£
67

Page 22

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

6 OTHER INCOME

Profit on sale of land and buildings
Government grants - COVID19 (CJRS & small
business grants)		 Unrestricted
Funds
2021
£
17,525
2,362,462
2,379,987		 Restricted
Funds
2021
£
-
-
-		 Total
2021
£
17,525
2,362,462
2,379,987

There was no other income received in the year ended 30 June 2022.

Costs of other trading activities
Sponsorship
Fundraising activity costs
Bar Costs
Kitchen Costs
Shop Purchases
Beer festival costs
Fireworks event costs
Annual dinner event costs
Other fundraising and event costs
Refreshments and pre match lunches
Facilities rental
Total costs of raising funds		 Unrestricted
Funds
2022
£
5,103
141,652
14,999
10,527
16,846
9,930
71,820
5,680
16,876
35,690
329,123		 Restricted
Funds
2022
£
-
-
-
-
-
-
-
-
-
-
-		 Total
2022
£
5,103
141,652
14,999
10,527
16,846
9,930
71,820
5,680
16,876
35,690
329,123

Page 23

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

7 COSTS OF RAISING FUNDS (continued)

Unrestricted
Funds
2021
£
Costs of other trading activities
Sponsorship
1,385
Fundraising activity costs
Bar Costs
37,189
Kitchen Costs
5,800
Shop Purchases
1,978
Other fundraising and event costs
6,706
Refreshments and pre match lunches
1,119
Facilities rental
16,019
Total costs of raising funds
70,196
8
EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted
Funds
2022
£
Playing costs
96,185
Facilities and service costs
158,098
Grounds maintenance
51,659
Schools costs
5,639
Mini's and youth costs
10,603
Governance costs
10,100
332,284
2021
£
Playing costs
-
Facilities and service costs
130,307
Grounds maintenance
12,446
Schools costs
3,530
Governance costs
9,250
155,533
Total expenditure on Charitable Activities is split as follows:
Direct costs
Support costs (note 9)		 Restricted
Funds
2021
£
-
-
-
-
-
-
-
-
Restricted
Funds
2022
£
-
-
-
-
-
-
-
2021
£
15,856
-
34,144
-
-
50,000
2022
£
270,858
61,426
332,284		 Total
2021
£
1,385
37,189
5,800
1,978
6,706
1,119
16,019
70,196
Total
2022
£
-
96,185
158,098
51,659
5,639
10,603
10,100
332,284
2021
£
15,856
130,307
46,590
3,530
9,250
205,533
2021
£
174,474
31,059
205,533

Page 24

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

9
SUPPORT COSTS
Salaries & freelance
Legal and professional
Admin & IT
Finance
10
ANALYSIS OF GOVERNANCE COSTS
Auditors remuneration (see note 11)
Other governance costs
11
AUDITOR'S REMUNERATION
Accountancy costs payable to the auditor
12
NET EXPENDITURE
This is stated after charging/(crediting):
Depreciation of tangible fixed assets
Fees payable for the audit of the financial statements		 2022
£
42,904
2,329
2,592
13,601
61,426
2022
£
10,100
-
10,100
2022
£
10,100
-
10,100
2022
£
53,092
53,092		 2021
£
12,577
2,050
4,525
11,907
31,059
2021
£
9,250
-
9,250
2021
£
9,250
-
9,250
2021
£
52,193
52,193

Page 25

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

13 STAFF COSTS

The total staff costs and employee benefits for the reporting period are analysed as follows:

Wages and salaries
Social Security costs
Employer contributions to pension plans
Other staff & freelance costs		 2022
£
116,175
2,674
1,805
23,138
143,792		 2021
£
47,976
348
910
2,950
52,184

No employee recevied emoluments in excess of £60,000 (2021: none)

The average monthly number of full time equivalent employees during the year was as follows:

Management
Coaching
Bar & kitchen
Facilities		 2022
1
1
6
3
11		 2021
1
-
1
2
4

14 TRUSTEE REMUNERATION AND EXPENSES

y y 2022 (2021: £Nil) and no expenses were paid out to trustees (2021: £Nil).

15 INVESTMENTS (Parent company only)

Cost or revaluation
At 1 July 2021
At 30 June 2022		 Plant and
machinery
£
1
1		 Total
£
1
1

All investments are held at valuation.

Investments in Subsidiaries

The charity holds 1 share of £1 in its wholly owned subsidiary trading company Wymondham RFC Trading Ltd(Company number 11525763) which is incorporated in the United Kingdom. The compares operates the bar, kitchen, shop and room hire facilities at the rugby club. The company pays 100% of its profits to Wymondham Community Rugby Trust via deed of covenant.

Page 26

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

15 INVESTMENTS (Parent company only) (continued)

Results of Wymondham RFC Trading Ltd

Turnover
Overheads
Other Income
Deed of covenant payment Wymondham Community Rugby Trust
Net Profit for period
Net Assets
16
TANGIBLE FIXED ASSETS
Group and Parent
Freehold
Land &
Plant and
Buildings
Machinery
£
£
Cost
At 1 July 2021
4,271,650
192,523
Additions
(2,913)
14,629
Transfer
-
-
At 30 June 2022
4,268,737
207,152
Depreciation
At 1 July 2021
94,965
66,519
Charge for the year
31,862
20,885
Transfer
-
-
At 30 June 2022
126,827
87,404
Carrying amount
At 30 June 2022
4,141,910
119,748
At 30 June 2021
4,176,685
126,004
17
STOCKS
Group
Parent
2022
2022
£
£
Shop stock
4,162
-
Bar stock
7,279
-
11,441
-		 2022
£
371,494
(243,091)
-
(128,403)
-
1
Equipment
£
4,018
-
-
4,018
1,719
345
-
2,064
1,954
2,299
Group
2021
£
6,163
3,341
9,504		 2021
£
94,825
(83,394)
19,259
(30,690)
-
1
Total
£
4,468,191
11,716
-
4,479,907
163,203
53,092
-
216,295
4,263,612
4,304,988
Parent
2021
£
-
-
-

Page 27

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

18
DEBTORS
Group
Parent
2022
2022
£
£
Trade Debtors
8,303
2,793
Prepayments and accrued income
4,612
4,612
Amounts owed by group undertakings
-
141,401
VAT recoverable
-
6,086
Other debtors
25
25
12,940
154,917
19
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
Parent
2022
2022
£
£
Trade creditors
28,536
18,480
Bank loans and overdrafts
-
-
Accruals and deferred income
21,086
12,414
VAT liability
3,586
-
Social security and other taxes
2,793
2,793
Other creditors
764
764
56,765
34,451
Group
Parent
Deferred income breakdown
2022
2022
£
£
Deferred income brought forward
51,086
34,111
Released during the year
(51,086)
(34,111)
Deferred during the year
5,877
-
Deferred income carried forward
5,877
-
20
CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
Group
Parent
2022
2022
£
£
Bank loans
-
-
-
-		 Group
2021
£
9,238
28,728
-
1,773
461
40,200
Group
2021
£
3,143
3,472
68,218
-
797
1,324
76,954
Group
2021
£
22,400
30,091
(1,405)
51,086
Group
2021
£
46,528
46,528		 Parent
2021
£
100
28,710
59,114
7,101
462
95,487
Parent
2021
£
2,334
-
46,532
-
797
1,324
50,987
Parent
2021
£
18,400
17,116
(1,405)
34,111
Parent
2021
£
-
-

The loan listed above (2021) respresents a government backed bounce back loan. Interest is charged on th loan at 2.5% per annum, with the government subsidising the 12 months of interest. The loan term is over 6 years with no repayments due in the first 12 months.

The loan was repaid in full on 31 December 2021.

Page 28

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

21
FUNDS SUMMARY
Year Ended 30 June 2022
Unrestricted funds
General Funds
Restricted
Wellbeing fund
TOTAL FUNDS 2022
Year Ended 30 June 2021
Unrestricted funds
General Funds
Restricted
Sport England Grant
Wellbeing fund
TOTAL FUNDS 2021		 At 1 July
2021
£
4,539,016
4,539,016
At 1 July
2021
£
5,000
5,000
4,544,016
At 1 July
2020
£
337,498
337,498
At 1 July
2020
£
-
-
337,498		 Income
£
682,938
682,938
Income
£
-
-
682,938
Income
£
4,427,247
4,427,247
Income
£
50,000
5,000
55,000
4,482,247		 Expenditure
£
(661,407)
(661,407)
Expenditure
£
-
-
(661,407)
Expenditure
£
(225,729)
(225,729)
Expenditure
£
(50,000)
(50,000)
(275,729)		 Transfers
£
-
-
Transfers
£
-
-
-
Transfers
£
-
-
-
Transfers
£
-
-
-		 At 30 June
2022
£
4,560,547
4,560,547
At 30 June
2022
£
5,000
5,000
4,565,547
At 30 June
2021
£
4,539,016
-
4,539,016
At 30 June
2021
£
-
5,000
5,000
4,544,016

Purposes and restrictions in relation to the funds:

Restricted

Sport England Grant:

Support for clubs during COVID-19 pandemic for sporting expenditure only.

Wellbeing donations:

Fund designated for the physical and mental wellbeing of players and members.

Page 29

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

22
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fixed assets
Net current assets
Fixed assets
Net current assets
Creditors due in more than one year and provisions
23
ANALYSIS OF NET DEBT
Cash
Bank loans
Net debt
Cash
Other loans
Bank loans
Net debt		 Unrestricted
Funds
2022
£
4,263,612
301,935
4,565,547
2021
£
4,304,988
280,556
(46,528)
4,539,016
At start
of period
2022
£
312,806
(50,000)
262,806
2021
£
72,074
(4,400,000)
(50,000)
(4,450,000)
22,074		 Restricted
Funds
2022
£
-
5,000
5,000
2021
£
-
5,000
-
5,000
Cash
flows
2022
£
21,513
50,000
71,513
2021
£
240,732
4,400,000
-
4,400,000
240,732		 Total
Funds
2022
£
4,263,612
306,935
4,570,547
2021
£
4,304,988
285,556
(46,528)
4,544,016
At end
of period
2022
£
334,319
-
334,319
2021
£
312,806
-
(50,000)
(50,000)
262,806

Page 30

WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

24 Related parties

The trustees are allowed to participate under the governing document of the Trust, which allows the payment of goods or services to trustees or connected persons.

Name of the related party Paul Wootton

Description of relationship between the parties Trustee

Description of the transactions and general Paul
Wootton
was
in		 receipt
of
prize		 money
amounts involved amounting to £150 from the lottery fund.
Sponsorship income of £300 was received from Paul
Wootton in relation to the 1XV shirt sponsorship.
Name of the related party David Clover
Description of relationship between the parties Trustee
Description of the transactions and general Sponsorship income of £204 was received from
amounts involved David Clover in relation to the beer festival barrel
sponsorship.
Name of the related party Anita Coleman
Description of relationship between the parties Trustee
Description of the transactions and general Anita
Coleman
was
in		 receipt
of
prize		 money
amounts involved amounting to £150 from the lottery fund.
Name of the related party Howes Percival
Description of relationship between the parties Paul Wootton (trustee) was a partner in the period
under review
Description of the transactions and general Professional fees in relation to the sale of Tuttles
amounts involved Lane amounting to £2,471 were paid to Howes
Percival

25 Pension commitments

The charity operates a defined contribution pension scheme for the benefit of its employees. The amount recognised as an expense in the year was £1,805 (2021 - £910). There were no amounts owed to the scheme as the year end (2021 – £106).

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WYMONDHAM COMMUNITY RUGBY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

26 Contingent liabilities

The charity is part of a group VAT registration and therefore is potentially liable for the VAT of the subsidiary. As at 30 June 2022, its subsidiary, Wymondham RFC Trading Ltd had a liability relating to VAT of £9,672 (2021: £5,328).

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