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2021-03-31-accounts

RUSTON SPORTS AND SOCIAL CLUB LIMITED

(A Company Limited by Guarantee)

FINANCIAL STATEMENTS AND ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31[ST] MARCH 2021

Registered Co. No. 06481283 Registered Charity No. 1173964

1

RUSTON SPORTS AND SOCIAL CLUB LIMITED

FINANCIAL STATEMENTS AND ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31[ST] MARCH 2021

COMPANY NO. 06481283

Contents Page No.
Reference and Administrative Details 3
Trustees’ Report 4
Statement of Trustees’ Responsibilities 5
Independent Examiner’s Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 – 14
Detailed Statement of Financial Activities
 15

2

Reference and Administrative Details

RUSTON SPORTS AND SOCIAL CLUB LIMITED

Trustees/Directors: Mr M D Easton
Mr T J Hunt
Mrs S J Pender
Mr R T Taylor
Mr R Vickers (appointed 15/04/2021)
Mr A Reedman (appointed 15/04/2021)
Principal Office: Ruston Sports And Social Club,
Newark Road,
Lincoln,
England,
LN6 8RN
Accountants and Independent examiners: M. G. Walker & Co. Limited
119a High Street
Clay Cross
Chesterfield
Derbyshire
S45 9DZ
Company number: 06481283
Registered Charity number: 1173964

3

RUSTON SPORTS AND SOCIAL CLUB LIMITED

TRUSTEES’ REPORT FOR THE YEAR ENDED 31[st] MARCH 2021

Charitable objects

The charity’s objects are specifically restricted to the following:

The promotion of equal opportunities, in community participation in healthy recreation, for the benefit of the inhabitants of Lincoln, by the provision of facilities for playing amateur sports.

During the period the charity served the public in the following ways

  1. Provided buildings and equipment for the wider community for the use of sports and events.

  2. Offered the facilities on a monthly basis to the blood donor group for the community to provide blood.

  3. Recognised local children’s health needs and provided an opportunity to try out a variety of different sports.

  4. Updated sporting facilities to maximise usage for the local community.

  5. Provided facilities for other local charity events such as tournaments, fundraising events etc.

  6. Provided professional coaching for the community and local schools.

  7. Kept well-maintained grounds and facilities accessible to all.

Covid 19 has significantly impacted the Charity during the year due to government restrictions; however, the continuation of the Charity has been maintained during the period through volunteer contributions. This has included attendance at the club to allow lower staff costs throughout the period (through the Furlough Scheme) and voluntary work performed to improve the building and grounds.

As a further result of Covid19 the charity revised its’ objectives to provide a facility for the NHS to use for the vaccination programme.

Structure, Governance and Management.

The charity is governed by an elected Board of Trustees who oversee the financial and ethical processes of the charity. It is managed by an appointed management team and employees who work for the charity.

Objectives and activities

To meet the needs of the general public in providing sporting and recreational activities to a wide demographic range.

We extend this to various personal and team-related sports and offer a well-run facility for people to enjoy their activities as set out above.

Financial review.

The charity is run on a not-for-profit basis and, as such, all reserves will be used within the business for improvement purposes. The annual report was approved by the trustees on and signed on their behalf by:-

............................................................. 19[th] July 2021 Matthew Durno Easton, Trustee and Director Date

4

RUSTON SPORTS AND SOCIAL CLUB LIMITED

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Ruston Sports and Social Club Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 19[th] Ju l y 2021 and signed on its behalf by:

.................. Matthew Durno Easton Trustee

5

RUSTON SPORTS AND SOCIAL CLUB LIMITED

Independent Examiner's Report to the trustees of Ruston Sports and Social Club Limited

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31st March 2021 which are set out on pages 7 to 15.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Ruston Sports and Social Club Limited (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of Ruston Sports and Social Club Limited are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of Ruston Sports and Social Club Limited as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

___ Mr M. G. Walker A.I.A M. G. Walker & Co Ltd 119a High Street, Clay Cross, Derbyshire, S45 9DZ

Date

6

RUSTON SPORTS AND SOCIAL CLUB LIMITED

Statement of Financial Activities for the Year Ended 31st March 2021

Unrestricted Restricted
Funds
Funds
£
£
Income and endowments from:
Donations and legacies
(Note 11)
37,585 8,650
Charitable activities
39,680
-
77,265 8,650
Expenditure on:
Other
(78,063) (8,650)
Tax on ordinary activities
-
-
Net income/(expenditure)
(798)
-
Transfers between funds (Note 8)
5,836 (5,836)
Net movement in funds
5,038
(5,836)
Reconciliation of funds:
Total funds brought forward
27,194
226,905
Total funds carried forward(Note 8) 32,232
221,069		 Total
2021
2020
£
£
46,235
-
39,680
82,745
85,915
82,745
(86,713) (112,814)
-
-
(798)
(30,069
)
-
-
(798)
(30,069
)
254,099
284,168
253,301
254,099

7

RUSTON SPORTS AND SOCIAL CLUB LIMITED

BALANCE SHEET AS AT 31[st] MARCH 2021

Note
Fixed assets
Tangible assets
3
Investments
4
Current Assets
Debtors
5
Bank Balance
Creditors: amounts falling
due within one year
6
Net current assets
Total assets less current
liabilties
Creditors: amounts falling
due after more than one
year
7
Net assets
Funds of the charity:
Restricted funds
8
Unrestricted funds
8
Total funds		 Unrestricted
32,945
2

32,947
1,630

36,458


38,088
(25,070)

13,018

45,965

(13,733)

32,232

-
32,232

32,232
 R
2

2
-
-		 2021
£
estricted
Total
21,069
254,014
-
2

21,069
254,016
1,630

36,458

-
38,088
-

(25,070)
-

13,018
221,069
267,034

-
(13,733)
221,069
253,301
221,069
221,069
-

32,232
221,069

253,301		 2021
£
estricted
Total
21,069
254,014
-
2

21,069
254,016
1,630

36,458

-
38,088
-

(25,070)
-

13,018
221,069
267,034

-
(13,733)
221,069
253,301
221,069
221,069
-

32,232
221,069

253,301		 2

T
2

2
3,607
1,278









 020
£
otal
63,050
2
63,052
4,885
(13,838)
(8,953)
254,099
-
254,099








253,301
221,069
32,232
253,301
226,905
27,194
254,099
221,069

The financial statements on pages 7 to 15 were approved by the trustees, and authorised for issue on 19[th] July 2021 and signed on their behalf by:

............................. Matthew Durno Easton

Trustee

The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

8

RUSTON SPORTS AND SOCIAL CLUB LIMITED

Notes to the Accounts for the year ended 31st March 2021

1 Accounting Policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Ruston Sports and Social Club Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Taxation

The charity is a registered charity and is therefore exempt from taxation.

Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

Income

Recognition of income

These are included in the Statement of Financial Activities (SoFA) when:

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants and donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met. In the case of performance-related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met.

The charity has received government grants in the reporting period.

9

Income from membership subscriptions

Membership subscriptions which give a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services within activities from charitable activities.

Expenditure and Liabilities

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Governance and support costs

No support costs have been allocated separately to charitable activities. Governance costs are included in the year as incurred.

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Redundancy costs

The charity made no redundancy payments during the reporting period.

Deferred income

No material item of deferred income has been included in the accounts.

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

Basic financial instruments

The charity accounts for basic financial instruments on initial recognition and subsequent measurement in line with FRS102 SORP.

Assets

Investments

Investments in subsidiaries are measured at cost less impairment.

Tangible Fixed Assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Property improvements 5% on cost and 2% on cost Fixtures, fittings, tools and equipment 25% on cost Motor vehicles 25% on cost

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the ‘first in first’ out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

10

2 Employees
2 Employees 2021 2020
Number Number
Average number of persons employed by the charity 1 2

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.

3 Tangible fixed assets

Cost
At 1 April
2020
Additions
Disposals
At 31 March
2021
Depreciation
At 1 April
2020
Charge for
the year
At 31 March
2021
Net book
value
At 31 March
2021
At 31 March
2020		 Land and
Buildings
£
1
-
-
1
-
-
-
1
1		 Property
Improvements
£
329,817
-
-
329,817
70,743
7,716
78,459
251,358
259,074		 Plant and
Machinery
£
5,300
-
-
5,300
1,325
1,320
2,645
2,655
3,975		 Motor
vehicles
£
4,500
-
(4,500)
-
4,500
(4,500)
-
-
-		 Total
£
339,618
-
(4,500)
335,118
76,568
4,536
81,104
254,014
263,050

The company owns the Freehold of the entire property and facilities at Newark Road, Lincoln. This is held on the Balance Sheet at 31[st] March 2021 at a cost of £1. A valuation was undertaken on the 4[th] February 2021 by Mundys (Chartered Surveyors), 29, Silver Street, Lincoln, LN2 1AS, which estimated its replacement cost to be in the region of £3,900,000.

11

4 Investments

Cost
At 1 April 2020
At 31 March 2021		 Investments
in Subsidiary
Undertakings
£
2
2

The above investment represents the nominal value of shares in Bert Linnecor Sports Bar Limited, a wholly owned subsidiary.

5 Debtors

Trade debtors
Amounts owed by group subsidiaries
Other debtors
6
Creditors: amounts falling due within one year
Trade creditors
Other taxes and social security
costs
Amounts owed by group
subsidiaries
Bank loans
Other creditors
7
Creditors: amounts falling due after more than one year
Bank loans		 2021
£
1,264
-
366
1,630
2021
£
-
477
1,805
1,564
21,224
25,070
2021
£
13,733
13,733		 2020
£
621
2,802
184
3,607
2020
£
7,042
343
-
-
6,453
13,838
2020
£
-
-

12

8 Funds

At 1 April 2020
Annual transfer on initial donation
Annual amortisation of grant
income
Net income / (expenditure) after
tax
At 31 March 2021
At 1 April 2019
Annual transfer on initial donation
Annual amortisation of grant
income
Net income / (expenditure) after
tax
At 31 March 2020		 2021
Unrestricted
funds
Restricted
funds
Total
£
£
27,194
226,905
254,099
2,800
(2,800)
-
3,036
(3,036)
-
(798)
-
(798)
32,232
221,069
253,301
2020
Unrestricted
funds
Restricted
funds
Total
£
£
51,427
232,741
284,168
2,800
(2,800)
-
3,036
(3,036)
-
(30,069)
-
(30,069)
27,194
226,905
254,099

Restricted funds represent funds allocated out of reserves in respect of the cost of property improvements included in tangible fixed assets and are being released to the profit and loss account as a reserve movement in line with the property improvements depreciation policy.

9 Share capital

The company is limited by guarantee and therefore does not have any share capital.

13

10 Transactions with Trustees and other related parties

The following related party transactions took place during the year ended 31[st] March 2021:

Name of the Relationship Description of Amount Balance Provision for Amounts
trustee or to charity the at period bad debts at written
related party transaction(s) end period end off during
reporting
period
£ £ £ £
The Bert Wholly Management Fee
30,000		 - - -
Linnecor owned
Sports Bar subsidiary
Limited
The following related party transactions took place during the year ended 31stMarch 2020:
Name of the Relationship Description of Amount Balance Provision for Amounts
trustee or to charity the at period bad debts at written
related party transaction(s) end period end off during
reporting
period
£ £ £ £
The Bert Wholly Management Fee
35,000		 2,802 - -
Linnecor owned
Sports Bar subsidiary
Limited

11 Analysis of receipts of government grants

Furlough retention scheme
Pitch Preparation Fund (3G
Maintenance)
FF Club preparation fund
FA Pitch maintenance fund
Local restrictions support grants
Total government grants received		 2021
Unrestricted
funds
Restricted
funds
Total
£
£
11,835
-
11,835
-
5,000
5,000
-
500
500
-
3,150
3,150
25,750
-
25,750
37,585
8,650
46,235

There were no restricted grants received in the year where restrictions were not met within the period.

No grants were received in the period ended 31[st] March 2020.

14

Ruston Sports and Social Club Limited Detailed Statement of Financial Activities For the year ended 31st March 2021

Income and Endowments
Unrestricted Restricted
Total
Funds
Funds
2021

£
£
£

Membership, Facility and Pitch hire
39,680 -
39,680
General grants provided by government
/other charities
(Note 11) 37,585 8,650
46,235

Total Income and Endowments
77,265 8,650
85,915
Expenditure
Wages and salaries
25,358
-
25,358

Pensions
574
-
574

Employer’s NI
-
-
-

Motor expenses
-
-
-

Rates
-
-
-

Telephone and fax
720
-
720

Postage, stationery and printing
85
-
85

Bank charges
274
-
274

Insurance
3,409
-
3,409

Equipment expensed
57
-
57

Repairs and maintenance
7,643 8,650
16,293

Depreciation
9,036 -
9,036

Bad debts
-
-
-

Sundry expenses
548
-
548

Accountancy fees
-
-
-

Management fees
30,000
-
30,000

Advertising
62
-
62

Interest payable
297
-
297

Total Expenditure
78,0638,650
86,713

Tax on ordinary activities
(-)
(-)

Net income/(expenditure)
(798)
-
(798
)
 2020
£
82,745
-
82,745
31 961
377
174
149
5,544
3,099
15
290
3,768
281
17,021
9,041
930
1,222
2,696
35,000
1,246
-
112,814
(-)
(30,069)

15