BLACKHEATH & BROMLEI HARRIERS AC (A Company limital by gugr¥dntee) Compmny registration number: (K)215991 Charity Registration numkr.. 1173422 BLACKHE.4TH & BROMLEY HARRIERS AC (A eornpany limited by guarantee and registered eharity) AL'DITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31- DECEMBER 2023 BLACKHEATH & BRO￿lLEy HARRIERS AC (A company limited by guarantee) NTENT Charity Reference and Administrative details Chairnian's R¢p)rt Truste¢5' RetK)rt Auditor's ReN)rt 12 Statement of Financial Activities 15 Bal&n¢¢ Sheet 16 Cashflow Sthtement 17 Notes to the Financial Ststcments 18 BLACKHEATH & BROMLEY HARRIERS AC (A company limited by guaranlee) CHARITY REFERENCE AND AD.MINISTRATIN'E DETAIIS ST FOR YEAR EIYDED 31 DECEMBER 2023 TRUSTEES Alan Pickering, Chair lan Young, Secrelary David Appl¢ton Juli¢ Ash¢r-Smith Chri5 Hilditch - resigned 25, March 20?3 Simon Kerr- resigned 25th March 2023 Paul Patten - r￿Igned 13th December 2023 H¢lga Pullin- apwinied 25th March 2023 ETIC Shirley - appointed 12th December 2023 Tim Soutar COMPANY REGISTERED NUMBER 00?15991 CHARITY REGISTERED NiIMBER 1173422 REGISTERED OFFICE Nomian Park Community Sports Centre Hay¢s Lane Bromley -BR2 9EG AIIDITOR Az¢ts Audit Services Bulman House Regent Centre Gosforth Newcastle upon Tyn¢ NE3 3LS BLACKHEATH & BROMLEY HARIUERS AC (A company limited by guarantee) AN, The dawn of the new year in January 2023 was also the dawn of a new era for the Charity With th¢ opening of our new community stx)rts centre at Nornian Park. As well as enhancing the supporting farilitics for th¢ track and field athletes. it now offers a physio suite a GP surgery, a multitude of fltness classes as well as refreshmeni facilities. It has also completed the process of bringing ihe track and field and road and cross county athlet¢s logeih¢r into one c¢ntr¢. During the year on th¢ athl¢lics front th¢ Club was again well repr¢senled at both adult and youth l¢v¢ls in vario￿5 World. European and National Championships. as w¢ll as English Sch(x)Is and County Compeiitions. Over 800 club members benefii from the wide-ranging athletic activilies available. In addition, by year end. over 300 m¢mb¢r5 of the general publi¢ were participating each w¢¢k in various fitness classes at the new community s￿rtS centre. with many others makin¥ use of the Physio and GP services. The Charity's financ¢s are in a hcalthy tK)Sition with the growth of income from the ncw ommunity facilities. d¢spil¢ high inflation, especially cnergy costs. Lookinb ahead we continue to develop iniliaiives io broad¢n our reach by providing athleti¢ opportunities to students with Special educational needs and disability (SEND) tn conjunction with local schools. This initiativ¢ won the Community Project of the Ycar Amwd at th¢ England Athletics London R¢gion Volunieer Awards. Th¢ Club is also s¢¢king Specia] Olympics ac¢redi18tion. Finally, as always I would like to thank our many volunt¢¢rs as none of the above would be possible without the fanlastic job they do managing teams. coaching, fund raising and administration. Alan Pickering Chaiman BL.4CKHEATH & BROMLEI. HARRIERS AC (A company limited by guarantee) TRUSTEES, REPORT FOR YEAR ENDED 31sf DECEMBER 2023 The trustees present their annual rep)rt together with the financial statements of Blackheath & Bromley Harriers AC for ih¢ twelv¢ months ending 315t December 2023. The Trustees confirni that the Report and Financial Statements comply with the currenl Sta￿tOry requiremcnts. ov rnan Mang onstitution Blackheath & Bromley Harriers AC is a comwiy limited by guarantee which is also registered as a charity under thc manag¢mcnt of a Board of Trust¢¢s. Bla¢kheaih & Bromley Harriers AC (BBHAC) was registered with the UK Charity Commission on 14th June 2017. in The Articles of th¢ Charity stst¢ that th¢re should be a minimum of thr¢e tn￿leeS and a M￿lMuM of nine. Trustees are nonnally apwinted for a 3 year period. Trustees are proposed and el¢ci¢d by members eligible to vol¢ ai Ihe Annual General meeting. The Trustees may ¢o-opt. with a majority decision of trustees, additional trustees betw¢¢n Annual General Meetings. ni ct Th¢ busin¢ss of BBHAC is manag¢d by the trwst¢¢s who may ¢x¢r¢is¢ all th¢ p)wers of the Company as laid out in the Articles. iv The Charity's objeclives are for the public ben¢fil generally but with kkn¢ul8r referenc¢ to the inhabitants of South London. Kent. Surrey and ihe surrounding areas". to promote community participation in healthy recreation by providing facilities for sports and physical activities which improve fitness and health, including running and athletics. to advance amateur swrt by promoting nmning and athletics and such other sw)rts. games and physical activities which promote health by involving physical or mental skill or cxertion and to advance th¢ education of th¢ publi¢. in ￿rtiCUlar children and young people, by providing the opportunity and facilities for participation in running and athlets'cs and such other swrts and physical activities which improve fithess and health so to develop their physical. mentsl and spiritual capwities thai they may grow to the full malurity as individuals and members of ￿)cIety that their conditions of life may be improved. Fundraisin diselosures The Charity is required to re￿rt how it deals with fundrdising from the public. The Charity does not use a professional fimdraiser or commercial participator lo raise funds. Any monies raised directly from the public follows all guidelines set out by the Chartty Commission and UK law in every resp￿Ct. We respect the privacy and contact preferences of all public donors. BLACKHEATH & BRONILEY HARIUEILS AC (A company limiled by guarantee) The Trustees confirni they have complied ￿7th their duty to have due r¢gard to the guidance on public benefii publish¢d by the Charity Commission in ¢x¢rcising their tx)w¢rs and duties. FIYANCIAL UNIMA The completion and opening of the new community SPK)rts centre is reflected in dramats'c growth of new income streams from use of the new facilities. Completing the project is also reflected in the £500k reduction in donations and grants associat￿ with funding the new centre compared to 2022. This was partly offs¢t by income growth in trading and ongoing charitable activities of over £200k. The growth in trading activities together with higher inflation. eS￿CIallY energy. and Interest rat¢s increased costs by £146L whilsl expenditure on chan'table activities w&s reduced by £15k. Bottom line incom¢ was £13.5k before charging depreciation of £36.6k. The Charity is planning to refinance and extend its bOrro￿ng$ at a lower interest rate in 2024 to repay debentures and replace the track floodlights with improved. energy ¢ffici¢nt one5 in the n¢ar fulure. The atlached accounts provide more de¢atl behind these figures. ET REP The Club ¢nJoyed anotheT successful year in both individual and ￿aM competilion. wilh athl¢l¢s benefitting from access to the additional facilities in the new sw)rts c¢ntr¢. especially the SFK)rts hall and fitness room. Membership has remaincd high and we have been able to cater for more athlet¢s with the establishment of a new Athletics Academy. started in April 2023, offering coaching to youngstCTS at tim¢s wh¢n the track and fjeld facilits'es were otherwise quiet. The summer season was launched with a club invitstion match to mark th¢ opening of our new centre at Nonnan Park. The Norman Park International Challenge built on our visit to J¢rsey in 2022 and involved teams from Ratoath in Ireland, Jersey Spartsn AC and Guernsey AC from the Channel Islands and loca] Clubs Medway & Maidstone and Tonbridge AC. The Club came away comfortable winn¢r5 to c¢l¢bra* our new home. In tenns of individual FKrfonnance. on the international stage. the highlights of the year were undoubtedly th¢ ￿[eCtIon of Dina Asher-smith (loom, 200m and 4x1 OOM relay) and Adam Gemili (4xlOOm relay) for th¢ World Championships and Holli¢ Arnold for the World Para Athletics Championships wher¢ she retained her Javelin title. In the U23 European Chgmpionsbips, Sam Reardon coM￿ted in thc 8(K)m (setting a new Senior Club recordl and 4x400m relay, George Seery in the 4(M)mh. Ethan Brown in the 4x400m relay and Laur¢n Farley in the Javelin. At the UK Athletics Championships we had 24 represenlativcs and the following were medallists.. Dina Asher-smith (Gold. 100m)' Bekah Walion (Gold. jav¢lin)- Ben HaM,kes (Silver. hammer). Lauren Farley (Bronze, ja%'elin)" Zara Obamakinwa (Bronze. discus). and Divine Oladipo (Bronze. shot). In the England Athletia U20123 Championship5. the following WOD medals.. U23 - Lauren Farley (Gold, javelin); George Seery (Gold. 400mh}. Morgan Squibb (Silver, 3000m ￿¢). Sam Reardon (Silver. 800m). Kelechi Agoucha {Silver. HJ). B¢n Sutton (Bronze. LJ). Shawn BLACKHEATH & BROMLEY HARRtERS AC (A eotnpany limiled by gugrantee) AmN)fo (Bronze. TJ). and Dillon Claydon (Bronze. discus). U20- Cleo Agyetx)ng (GoliL shot): Zara Obamakinwa (Gold, discus)" Daniel Goriola (Gold I IOmh}" Jonathan Ellerton (Gol 3000m walk); and Faith Akinbileje {Bronze. IIM)m). 29 of the Club's young athletes, representing 6 counts'es (Kent. London. Surrey. Sussex. middl￿eX. and Berkshire). were sel¢cled for the Engligb Schools AA Championships. wilh 19 making the finals in their ￿$￿CtIve events yielding 6 golds. I silver and 2 bronze medals. In fram Com￿ltI0￿ pride of place. again. rnu* go to our Juniors who wntinu¢d to impT¢SS on the international stage as well &$ domests'cally. Once more. we represented GB in the European DNA Junior Clubs Cup. Though, in many reS￿s. dominating over the two days of competition - our athleies secured nine I st places. seven 2nds and a 3rd out of 22 events - the fornal of th¢ ¢v¢nt was ultimalely againsl us.. th¢ slart of ihe final rnix￿ relay is handicapp so as to reward the l¢ading7 teams, with th¢ overall match result solely d¢p¢ndent on the finishing order in this relay. On both days we were unable to field a sutTiciendy strong 800m runner. thus failing on Saturday to make the A Final and then slipping tr) 2 An Sunday's B Final. In th¢ Youlh Development iKague. Upper Ag¢ Group. the Club continued their winning streak of the last several years. Having won all 4 malch¢s dwing th¢ regular sea50n. we went on to tske the till¢ in the Manchester Finals by a substantial margin. Ihus qualifying for the 2024 European DNA evenl in Portugal Among many fine perforniances on the day. pride of place went to new member, Eliza Nicholson. who broke the League UJ 7 30(M)m record and was awarded the Athlete of the Malch Trophy. The Low¢r Age Group team had io work slightly harder both to qualify for the Finals and on th¢ day itself, but successfullv defended their till¢ by an increased margin from the previous In ihe Kenl Young Athlelej l£ague, we were run away winners again but here the focus remains lo ensure that those of our aihlctes. who might not quite be at the standard for the YDL, have access to local comwition that can act as a development pathway towards compeling in Ihe YDL and beyond. We ar¢ undoubtedly the I￿lIng young athletes, club in the country. In the National Alhletics Leagu& the senior learn finished the season 6th in the Premiership Division of the League, confim]ing its slalus as one of ihe top senior teams in the country. There is little doubt that we have the athletes to enable us to challenge for the title and the inability to field teams which represent this strength continues to be a major concern. The Club also fielded teams in Division l of the Southern Athletics iugue, with the aim of providing competition OPFK)rtunities for all athletes, young and olrt have been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exception In ihe light of our knowledge and understanding of the group and the parent charitable company and ils environment obLqined in the course of the audiL we have nol idenlifid material misslatements in the Trustees, Report. W¢ have nothing to r¢port in r¢sFKd of the following maners where th¢ Companies A¢t 2006 requir¢$ us to r¢w)rt to you if. in our opinion: adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit hav¢ not been received from branches not visited by us: or the parenl charitable company financial statrments are not in agreement with the accounting r¢cords and returns. or certain disclosures of trustees remuneration specified by law are not made. or we hav¢ not received all the inforniation and explanatioL8 we require for our audit. Responjibililies of IruJteeJ As explained more fully in the Statement of Trustees, Responsibilities (set out OD p8g¢ I l ). thc trustees are responsibl¢ for the preparation of the ftnancial statements and for being satisfied that they giv¢ a true and fair view, and for such iniernal control as the trusle¢s d¢tern]ine is necessary to enable the preparation of financwj ststements that are free from material misstatemenL whether due to fraud or error. In preparing the financial ststements. t￿ trustees are reswnsible for assessing the charity's ability to continu¢ as a going concern, th'sclosing. as applicable, mattws related to going concern and using the going concern basis of accounting unless the trustees either intend to liquida1¢ the charity or to cease operations. or have no realistic alternative bul to do so. Auditor responsibilities for tbe audit of the fin8nci81 ststements Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free from material misstatemenL whether due lo fraud or error. and t0 Issue an auditor'5 rerK)rt 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 IUK) will alw7ys detect a material misstatement when it exists. Misstatements can anse from fraud or error and are considered material if. inth'vidually or in the aggregate, they could reasonably b¢ expected to influ¢n¢¢ th¢ wonomic d￿lSIonS of us¢rs taken on the b&5is of these financial statements. 13 BLACKHEA TH & BROMLEY HARIUERS AC {A company limited by guarantee) Irregularities. including frau￿ arc instanc¢s of non-complianLr with laws and ￿gulatiOnS. We design procedures in line with our re5wnsibiliti¢s. outlin¢d atM)ve. to detect mat¢rial misslatements in respcci of irregularities. .including fraud. The extent to wl]ich our procedures are capable of detecting irregularities, including fraud is detailed below- - Enquiries with manag¢rnent alx)ut any known or sUSp￿ted instances of non-compliance with laws and regulations and fraud. - R¢vicwing board minutes" - Challenging assumptions and judgements made by management in their significant accounting estimaies. and - Audittng the risk of managemcnt overrid¢ of controls. incl￿alD8 through testing journal entries and other adjustments for appropriateness. Because of the field in which the cli¢nt 0￿rates, we identified the following areas as those most likely to have a maierial impact on th¢ financial slat¢m¢nts.' Health and Safety. employment laws. and compliance with the UK Companies Act and Charities Act. Owing to the inhereni limitations of an audit. there is an unavoidable risk that some material misstatements in the financial slat¢m¢nts may not be detecfrd even though the audit is properly planned and perfornied in accordance ISAS (UK). For instsnce, the further removed non-compliance is from the event and transaaions reflected in the financial ststement5, the less likely the auditor is lo become aware of it or to recognise the non- omplianc¢. A further description of our r¢S￿nsIbl111les for the audit of the financial statements 15 located on the Financial R¢FK)rting Council's website at www.fr¢.or8.uklaudilorsreswnsibilities. This description fonns part of our auditorfs re￿)rt. Use of our report This report is made solely to the charitsble went company's trustees. as a Ix)dy. in accordance with Chapter 3 of Part 16 of the Companies Art 2006. Our audit work has been undertaken so that we might stste to the group's trustees those matters we are required to stale to them in an auditor's report and for no other purFM)s¢. To the fullest extent pennitted by law, we do not accept or assume reswnsibility io anyone other than the chantsble par¢ni company and its trustees as a bod for our audit work. for this rewo or for the opinions we have fomied. Simon Brown BA ACA DChA {Senior Statutory Auditor) For and on behalf of Azets Audit Services Chartered Accountsnts Statutory Audilor Bulman Hous¢ Regent Centre Gosforth Newcastle u￿n Tyne NE3 3LS 14 BLACKHEATH & BROMLEI. HARRIERS AC (A company limiled by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACttVlTIES INCORPORATING INCOME AND EXPENDITURE ACCOiII%T FOR YEAR ENDED 31sf DECEMBER 2023 2023 Unrestrfrted Restrlrted 2022 Notes Total Trading Income Oonations Charltable Activities Fund Raislng Sponsorship & grants 290,294 64.178 36,219 13,516 290,294 64,178 37,059 13,516 4,150 409,197 93,110 157,456 30,243 10,773 423.219 714,801 4,150 4.990 404.207 Tradln8 overheads Expenditure on Charitable Attivities {272,9911 {272,991} {127,0621 1155,2281 (4,122} (159,3501 {174,7771 Net Income l(Expendlture) from activlties before transfers Gross transfers between funds Net Income/ IExpendlture) from actlvltles Reconclllatlon of Fund Total Funds brou8ht forward 124,012) 868 (23,1441 412,962 1,050,238 11,050,238) 1,026,226 (1,049,370) {23.144) 2,800,541 2,138,929 1,074,574 3,213,503 Total Funds carried forward 3,165.155 25,204 3,190,359 3,213,503 Total 2022 2.138.929 1,074,574 3,213.503 The notes on pages 16 to 27 fonn part of these financial statements. BLACKHEATH & BROMLEY HARRIERS AC (A company limiled by guaranlee) BALANCE SHEET AS AT 31ST DECEMBER 2023 (REGisfRATION NUMBER: 00215991) Charity Consolidated Group Not¢s 2023 2022 2023 2022 io 3,623,021 3,581,324 3,636,101 3,596,496 Bank Stock Sundry Debtors 16,425 691 104.492 121,608 105,628 27,162 691 103,641 131,494 116,919 li 12 8,937 114,565 9,017 125,936 Fallin8 due within l year Credltors Debentures Net current assets 13 (113,994) 1230,¢))O) 1222.3861 1304,721) 1126,4101 1230.(KJO) {224,916) 1317,8191 13 (190.156) 1191,8831 Credltors falllng due after more than I year Debentures 13 1220,8261 (I,iioi 1190,OLI)I 3,21XI,058 {220,826) ii.iioi 1190,0001 3,213,503 13 NET ASSETS Charfty Funds Restrlcted Funds Unrestrltted Funds 3,179,809 3,190,359 14 14 25,204 3,154,605 1,074,574 2,125,484 25,204 3,165,155 1,074,574 2,138,929 TOTAL FUNDS 3,179,809 3,2CKJ,058 3,190,359 3,213,503 The Trustees acknowledge their ￿￿}nsIbilItIeS for cornplying with the requirem¢nts of the Companies Act 2006 with r¢s￿rt to accounting records and the prepor8tion of financial slatements. The financial statements were approved and authorised for issue by the Tn￿tee$ on 20th August 2024 and signed on their behalf by.. H¢lga Pullin - Trustee David Apple st¢¢ 16 BLACKHEATH & BROIILEY HARRIERS AC (A company limited by guarantee) Consolldated Statement of Cash Flows for the Year Ended 31 December 2023. 2023 2022 Cash flows frnm operating activities Net cash income {23,144) 412,962 Adjustments to cgsh floTrB from non-cash items Depreciation Investment income Adjustments for non cash items Working capital adjustments (IncreaseYdecr￿5e in slocks (Incre&8eydecre&8¢ in debtors (Decrease)linCr￿c in crcditoTS Increas&l(decrease) in deferred income cash flows from operoiin8 activities Cash Ilows from investing 8ctivitieJ Sale of tangiible fixed assets Purchase of tangibl¢ fix¢d &ssets Issue of Debentures Bank Loan.. Advances less repayments Nd c&8h flows from investing activities Net Idecreaseyincrease in cash and cash equivalents Cash and cash equivalents at l January Cash and cash equivalents at 31 December io 36.579 2.093 36.579 2,093 (691) (94.624) (198.310) (9.885) (290,075} 5.433 (8.157) 89.388 (7.731) 493.988 12 13 io (76,183) (3.256.399} 40.000 190,000 236,501 200.318 (3.066.399) (89,757) (2,572,411) 16.919 27.162 2,689,330 116.919 All of the cash flows are derived from conlinuing owations duTing th¢ above two p¢ri(NJs. 17 BLACKHEATH & BRONILEI. HARRIERS AC (A company limited by guarantee) I. SUMMARY OF SIGNIFICAKf ACCOUNTING POUCIES 1.1 Genernl informition and bayij of preparation Blackheath & Broml¢y Harriers AC I (BBHAC) s a company limited by guarantee and is registered with the Charity Commission (Charity R¢gist¢r¢d Number 1173422) and Registrar of Companies (Company Registration Number 00215991) in England and Wales. In the event of ihe Charity being wound up. the liability in respeci of the guaranlee is limited lo £ I per member of the Charity. The address of the registered office is given in the Charity infomation on page l of these financial ststements. The nature of the Charity's operations and principal activities are detailed in the Tntstees Re￿rt. The Chartty constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and ReKK)rting by Charities.. Staiement of Recommended Practice applicable to charilies preparing their accowits in accordance with ihe Financial Rep)rting Standard applicable in the UK and R¢public of Ireland IFRS 102) (effective l January 20191- (Chariiies SORP (FRS 102)). th¢ Fin&ncia] Reportinby Standard applicable in the United Kin&.dom and R¢publi¢ of Ir¢land (FRS 10?), the Charities Act 201 l and the CoM￿nieS Aci 2006. The financial statements are prepared on a going Concern b&sis under the historical cost convention. The financial stat¢menls are presenled in sterling which is the functs'ot]al currency of BBHAC and rounded to the nearest w)und. In January 2023 ihe Charity commenced operation of ils new cornmunity STX)rts centre at Nomian Park. This generated new income streams from various fitsiess classes and rental income from a physio suite and caféA)ar. The significant accounting wlicies applied in the preparation of these financial statements are set out below. These policies have been consistenily applied to all years presented unless oth¢rwise stated. 1.2 Funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the gener￿ objectives of the Charity and w￿.¢h hav¢ not been designated for other purposes. R¢stri¢ted funds are funds which are to be used in accordance wilh s￿]riC restriclions imposed by donors or which have been raised by the Charity for particular purposes. The cost of ralsing and administenng such funds are charged against the specific fund. The aim and Use of each restricted fund is set out in the notes to the financial stst¢m¢nts. 18 BLACKHEATH & BROIILEY HARRIERS AC (A company limited by guarantee) IJ Income recognitlOD All incoming resources are included in the Ststemenl of Financtal Activits'es (SOFA) when the Charity is legally enti11￿ to th¢ income after any t￿rfOTmance conditions have been met. the amount Can be measured reliably. and it is probable that the income will be received. For donations to be recognised the Charity will have been notified of the amounts and the settlemeni dale in writing. If theTe are condilions attached io th¢ donation and this r4uire5 a level of perforn]ance before entitlement can be obtained then income is deferred unlil those conditions ar¢ fully met or the fulfilment of those conth'tions 15 within the control of the Charity and it is pmbable that they will be fulfilled. Investment income is earned through holding assets for investment purposes such as shares and property. li includes dividends. in*rest and rent. Wh¢r¢ il is not pra¢ticable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is re￿rted n¢t of these costs. It is includ¢d wh¢n the amount be measured reliably. Interest income is recognised using the effectt've interest method and dividend and rent income is reCogniS￿ as the Charity's right io receiv¢ payment is established. Interest on funds held on dep)sit is included when receivable and the amount can be measured reliably by the Charity. this Is nonnally utK)n notification of the Interest pwd or payable by the Bank. 1.4 Expenditure reeognition All ¢xpenditure is a￿Ount¢d for on an ￿rualS knis and has been classified under headings that aggregate all costs related to the cal¢gory. Exp¢ndilurc is recognis¢d where there is a legal or constructive obligation io make ￿Yments to third prties, It is probable that the settlement will be required and the amount of the obligation can be me&5urcd rcliably. 1.5 Charitable activities Income from contracts and supply of servi¢e5 is recognised with the delivery of the ontract¢d Service. This ts classified &8 unrestricted funds unless there is a contractual rcquir¢mcni for it to be sp¢nt on a particular purw)s¢ and returned if unsFnt. in which case it maybe regarded as restricted. 1.6 Raising funds These are costs incurred in attracting voluntary incorne and th05¢ incurred in trading activities thal raise funds. 1.7 Tangible flxed assets and depreei8th?n Tangible fixed assets are ststed al cost (or deerned cost) or valuation less accumulated depreciation and accumulated IMP￿rnient losses Cost includes costs dir¢¢tty attributable to making th¢ assd Ca￿ble of OFrrating as int¢nd¢d. 19 BLACKHEATH & BROVLEI. IL4RIUERS AC {A compatty limited by guarantee) Depreciation will be provided on land & buildings once op¢rabl¢ and consistent with th¢ le&se period of125 year5 (lease finishes 2146). Equipment 15 depreciated over the useful life of the asset. 1.8 Investments The Charity currently has no investm¢nts in equities. either listed OT unlisted. 1.9 Debtorg and creditors receivable I payable within one year Debtors are recognised when the Charity is legally entitled io the incom¢ after any perforniance conditions have been met. the amount can be measured reliably and it is probabl¢ that the income will be received. Creditors are recognised when the Charity has a present legal or constructive obligaiion resulting from a past event and the settlement is expected to result in an outflow of economic benefits. 1.10 Tax The Charity 15 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 I Schedule 6 Finance Act 2010 and Iherefore it meels the definilion of a chantsble company for UK corp)ration t&x purposes. It Ih¢r¢fore does not suffer tax on incom¢ or gains applied for chantsbl¢ purFK)ses. NPTM pays tax on any trading profits, which in the current year are offset by broughi forward losses. 1.1 l Going concern The financial stat¢ments have been prepfired on a gotng concem basis as th¢ TnLSt¢¢s believe that no mal¢rial uncertainties exist. The Trustees have considered the level of funds held and the ex￿rIed l¢v¢l of income and expenditure for next 12 months. taking account of ihe Charity's ongoing operations. in authorising these financial staiements. The budget¢d incom¢ and eX￿ndItUre is sulTici¢nt with the level of reserves for the Charity to be able to ¢ontinu¢ as a gyoing concern. Plans lo refinance the debentures maturing in December 2024 are well advanced. 1.12 Stoek Stock is valued ai lower of cost or net realisable value. 1.13 Debentures and Bank IA)ans Bastc financial liabilities. including creditors, bank loans and debentures are initially recognised at transaction pricc unl¢ss the arrangement constitutes a financing transaction. where the debt instnun¢nt is rn￿Ured ai present value of the future payments di￿ounted at a market rate of int¢r¢st. Financial liabilities classified &$ payable in one y¢ar are not amonised. Debt instruments are sub5equenily carried at amortised cost. using the eff¢ctiv¢ interest rate method. Accounts payable are classified as current liabilittes if ￿yrnent is due within one ycar or less. if not they are presented as non-current liabilities. Debt instruments ihat do not meet th¢ conditions of FRS 102 paragraph 11.9 are subsequently me&sured at fair i'alue through Profit or Ioss. Debt instruments may be designated as being 20 BLACKHEA TH & BROMLETr' HARRIEILS .4C (A company limited by guaranlee) m¢asur¢d at fair valu¢ through profit or loss to eliminate or reduce an accounting mismatch or if the instnunents are measured and their perforniance evaluated on a fair value basis in accordance ￿7th d￿Urnented risk management or investrnent strategy. 2. Tr74ding income and expenses This income and expense derives from Nonnan Park Trnck Management Ltd's jncorne frorn use of the athldics track at Norman Park and the ass(Kiated costs of O￿Tating the track. 3. Income from donatlons The Chanty received donations from both members and third parties. Whilst some of these were unrestricte(L many donations were specifically ￿ SUPFK)rt ihe development of the new community swrts facility and clubhouse at Nornian Park. 2023 Unrestrl¢ted Restrlrted 2022 Total Totsl Oonations 64,178 64,178 157,456 2022 total 77,976 79,460 157,456 4. Analysls of Incom• from Charftable Actlvltl•s 2023 Rertrfrted e of Income: 2022 Total Unrestrf¢ted Tot¥1 INCOME Subscriptions Club Events Other Income 29.939 5,827 453 36,219 29.939 6.667 453 37,059 27,850 1,187 1,206 30,243 Total 2022 30,129 114 30.243 5. Anatysls of Income from Fund Ralsln 2023 2022 Unrestrlrted Restrlcted Totsl Total Lottery Syndicate Bonus Ball draw 300 Club Other fund raisin8 Total 900 1,242 5.000 6.374 13,516 1,520 826 8.000 427 10,773 1,242 6.374 13,516 Total 2022 10,773 10,773 21 BLACKHEATH & BROMLEI. IIARIUERS AC (A company limited by guarantee) 6. Sponsor5hlps & Grants: There was no sponsorsftllp income during the year12022 £Nil). Granl income compnses of grants frorn the Jack Petchey Foundation (£3,700) and England Athleiics (£450) (2022 £423. 219). 7. Ejtpendlture on Charltable Artlvltles- Dlre¢t Costs All the ex nditure w&$ in fulfilmeni of the com 's charitable objethves. 2023 2022 Unrestrlrted Restrlrted Total Totsl Afflllatlon Fees Awards EqulpmenVKIt Coaching ActSve Athletlcs Total 970 256 9,971 1,350 49.744 62,291 970 256 9,971 1,350 49.744 62,291 2,330 191 963 765 43.286 47,535 Total 2022 47,535 8. Expendlture on Charltable Artlvltles- Support Costs Support cosis in fulfilment of ihe company's charitsbl¢ obje¢live& including £7.965 (2022 audit fe¢ r¢latin to overnancc costs. 2023 Unrestrfrted Restrfcted 2022 Total Total Rent, Rates & Insurance Postage & Telephone IT Costs Development costs Professlonal Fees Bank Charges & Interest Depreciation Other costs Total 9,747 9,747 80 4.123 1,375 207 1,451 105,451 7,892 4,871 2,093 3.902 127 242 4,123 25,117 19,370 34,486 14 92,937 25.117 19,370 34.486 4,136 Total 2022 17,097 110 145 127 242 9. Net Incominwoutgoing resources 2023 2022 Net incoming resources for the year include: Audil fees Depreciation, amortisation and other similar costs 7,965 7,375 Trustees rem uneration and expenses One trustee ,who resigned in March 2023. r¢ceivcd ￿muneratiOn as an employee of the Charity's subsidiary. Nornian Park T￿k Management Ltd. No other t￿￿tees, nor any p¢rsons connected with them. received any r¢muneration from the charity during the year. 22 BLACKHEATH & BROIILEY HARRIERS AC (A company limited by guarantee) During the year no trusttts hav¢ received any reimbursed expenses in their rol¢ &s trust¢¢s. although some received reimbursements for expenses mcurred in other roles e.g.team management. Staff Costs during the yeAr". The aggr¢gal¢ payroll costs were as follows and relale lo the subsith'ary, Norn]an Park Twk Management: 2023 2022 Wages and salaries Social security Costs Pension costs 152,797 4.986 72,254 1.469 159902 The monihly average number of ￿rSOnS employed by the group during the Y￿ was as follows.. Management Administrative and Operational Operational part-time employees 2023 2022 10 12 No ¢mploy¢¢ rer¢iv¢d emoluments of more than £60.000 durin8 th¢ year. There was no remuneralion or Ftnsion cost for the charity truste¢s and other otTic¢rs. 10. T•nglble Flxed A••ets Charlty Group A. L•nd Jnd Bulldlng8 Cost as at 1st January 2023 Addltlons As at 31st December 2023 3,525,617 3,525,617 3,553,347 3,553,347 Depreclatlon as at 1st January 2023 Charge for the year As at 31st December 2023 28,889 28,889 Net Book value at 31st December 2023 Net Book value at 31st December 2022 3,524.458 3,525,617 3,524,458 3,525,617 . Flxtures & Flttlngs Cost as at 1st January 2023 Addltlons As at 31st December 2023 55,707 55,707 104,160 104,160 Depreciation as at 1st January 2023 Charge for the year As at 31st December 2023 5,597 5,597 Net Book value at 31st December 2023 Net Book value at 31st December 2022 98,563 55,707 98,563 55,707 23 BLACKHEATH & BROMLE). IL4RIUERS AC (A company limited by guarantee) C. Plant & Equlpment Cost as at 1st January 2023 Addltlons As at 31st December 2023 26,427 26,427 Depreclation as at 1st January 2023 Charge for the year As at 31st December 2023 11,255 13,347 Net Book value at 31st December 2023 Net Book value at 31st December 2022 13,080 15,172 Total Flxed Assets.. Net Book Value at 31" December 2023 Net Book value at 31st December 2022 3,623,021 3,581,324 3,636,101 3,596,496 11. Stoek Sts)ck consists of club kit for sale to members. 12. Sundry Debtorj Group: Debtors at end 2023 were trade debiors of £1.355 at NPTM Ltd. prep￿d group insurance of £8909 and net VAT re¢eivable from HMRC of £93.377. Al end 2022 prepaid insurnnce was £8937 in the Charity wilh one debtor for £80 at NPTM Ltd. 13. Creditors Falling due within l year: Group 2023 2022 Trade Creditors Pension Prepaid Subs & Donations England Athletics Accruals Taxes & VAT Charity Bank Loan Inlerest Free Debentures 6.982 196,843 418 539 2.131 12,016 893 2.209 99.200 105.442 770 16,786 230 000 356.410 317.819 Fallln8 due after more than a year: Interesi free debentures re￿Vable at on 1st January 2027 Interest free debentures repayable December 2023 Charity Bank 10 year loan 1.110 i.iio 190.0(X) 219716 220.826 191,110 24 BL4CKHEATH & BROMLEY HARRIERS AC (A company limited by guarantee) Charity 2023 Falling due within l year. 2022 Trade Creditors Prepaid Subs England Athletics Accruals Charity Bank Loan Interest Free Debenlures repayable at par on 30 November 2024 191.054 12.016 2.209 99,442 2.131 893 94.184 16.786 230,WO 343.994 304.721 Falllng due Jfter more than a year. Interest tree debentures repayable at par on I st January 2027 Interest free debentures repayable at par on 30th November 2024 Charity Bank 10 ycar loan 190,(X)O 219,716 220.826 191.110 2023 2022 Group Deferred income at l January Re￿UrCeS deferred in the peri(xl Amounts released from previous peri(MJs tkferred income at year end 12,016 2,131 19,747 12,016 2023 2022 C.h8rity Def¢rr¢d income at l January Resources deferred in the period Amounts released from previous periods Deferred income at year ¢nd 12,016 2,131 9,468 12,016 9.468 25 BLACKHEA TH & BROMLEY EL4RIUERS AC (A company limited by guarantee) 14. Statement of Funds- Current Year GROL'P IEipe•dlthre Expa*tl TrAvskr •f Fwid 3IIIY2O23 Fuf4D Unrestricted Fund$ Restrirted Funds Capital Dev¢lo ment Fund Wooderson Race Fund Will Bolton Memorial Youn Athletes Jack Petche ' wards Athletes Su Presidents Fund Oiher Total Restricted 2.138.929 404307 1428.219) 1,050238 3,165,155 1.050.238 (1.050.238) 3.215 3.215 10.548 1.682 5.286 1.243 2.362 840 11.388 1,625 6,614 (57) 12372) {1.243) 3,7C(I 2.362 450 (450) (4.122) 1,074J74 (1.051J238 25304 TotAI 3313,503 409.197 1432J41) 3,190J59 CHARITY l*r•ty IExpo•dllw Trwkr •f liim2J 311121202J FUTr4D Ilnrestricted Funds Restrieted Funds Capital Develo menl Fund Wooderson Race Fund Will Bolion Memorial Youn Athletes Jack Petche Awards Athletes Su Presidenis Fund Total Restricted 2,125.484 182.113 1203J30 1.050,238 3,IS4,605 1.050.238 (1.050.238) 3.215 3.215 10.548 1.682 5.280 1.243 2.362 11.388 1,625 6.614 {57) (2372) (1.243) 3.7 2,362 450 {450) (4.122} 1.074.574 (1.0511.238) Tolal 3200.1)$8 187,103 (207J52 3.179.809 Capital Development Fund ￿'aS established to provid¢ funds towards the construction of the new community SFK)rts centre in Nomian Park. now complded and paid so balance is transferred ti unrerstriCt￿ Fund Wooderyon Race Fund is to provide Prize money for an annual race in commemoration of S)'dney Wooder50n. The race w not held in 2023.. Will Bolton .Memorig1 Fund is to supFK)rt stKcific athletic initiatives as det¢miined by a committee of trustees Young Athletes FuDd provides support to young athletes in cascs of hardship. 26 BLACKHEATH & BRONILEY HARRIERS AC {A company limited by guarantee) Jack Petchey Awards: This fund r¢pr¢s¢nts the unspent awards from th¢ Jack Petchey Foundation. The awards are made to young athletes who deternline how it is to be spent for the benefit of the club. Athletes, Support is to supwrt hardship cases e g. for membership subscriptions. Presidents Fund is available for th¢ incumbent pr￿iden1 to spend to Prog￿$$ any specific initiatives he suptK)rts consistent with th¢ chanty's ObJ￿￿v¢S. 15. Analysis of net Assets between fundj Total funds at Unrestrkted Restrlrted 31 December funds 2023 Group Tangible fixed assets Current assets Current liabllities Long term liabilities 3,610,897 131.494 (356.410) (220,826) 3,165,155 25,204 25.204 3,636,101 131,494 1356,410) (220,826) 3,190,359 Total net assets Totalfunds at Restrkted 31 December funds 2022 Unrestrkted Tangible fixed assets Current asset5 Current liabilities Long term liabllities 2,521,922 125,936 1317,819) 1191,110> 2,138,929 1,074,574 3,596,496 125,936 {317,8191 1191,1101 3,213,503 Total net assets 1,074,574 Charlty Totalfundsat Restrlcted 31 December funds 2023 Unrestrfrted Tanglble fixed a55ets Current assets Current liabilities Lon8 term liabilitles 3,597,817 121,608 {343.994) {220.826) 3,154,605 25.204 3,623.021 121,608 1343,9941 {220,826) 3,179,809 Total net assets 25,204 27 BLACKHEATH & BROMLEY HARIUERS AC (A company limited by guaranlee) Totalfunds at 31 December Unrestrfrted Restrlrted 2022 Tangible fixed assets Current asset5 Current Ilabilities Lon8 term liabilities Total net assets 2.506,750 114,565 1304,7211 1191,1101 2,125,484 1,074,574 3,581,324 114,565 {304,7211 1191,1101 3,200.058 1,074,574 16. Analysls of net funds Group At31 December 2023 At l January 2023 Flnanclng cash flows Cash at bank and in hand 116.919 189,757} 27,162 Repayable in less than l year Repayable In more than I year (230,(MX)1 {230,OCM)) 11,iioi 1191.1101 Repayable in less than l year Repayable in more than l year Net funds / (Liabllitlesl 116,7861 116,7861 (219,7161 {219,716} 1366,259) 1440.4501 {74,1911 At31 December 2022 At l January 2022 Flnancln8 cash flows Cash at bank and In hand 2,689,330 (2,572,411) 116,919 Debentures Repayable in more than I year {I,iioi 1190.CKX)I 1191,1101 Net funds 2.688.220 12.762.411) 174,191} 28 BLACKHEATH & BRONILEY HARRIERS AC (A company limited by guarantee) 17 Related Party Transartlons Related party transactions during the year consisted of management fees of £48.0(K) paid to the group subsidiary Norman Park Track Management Ltd. with whom there w&$ a debtor balance of £1.454 at the end of the year. 18. Capltal Cornmltments None 29