**Richmond Bridge Club CIO Registered Charity Number 1175613**
## **Trustees’ Report and**
**Financial Statements for the year ended 31 March 2021**
## **Richmond Bridge Club CIO**
## **Trustees’ Report and Financial Statements for the year ended 31 March 2021**
## **Contents**
||Page|
|---|---|
|Trustees’ Report|1 - 4|
|Independent Examiner’s Report|5|
|Statement of Comprehensive Income and Income Statement|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 - 14|
**Richmond Bridge Club CIO Trustees’ Report for the year ended 31 March 2021**
Richmond Bridge Club CIO Registered Charity 1175613
RBC CIO was formed out of its previous entity - a members’ club known as “Richmond Bridge Club”. The Club’s members agreed to a plan to become a charity at a general meeting on 11[th] October 2017. A set of initial trustees prepared the necessary governing documents. The Club operates under a Constitution closely following Charity Commission guidance that lays out the detailed arrangements for running the organisation.
## **Trustees**
The trustees at the start of this period were:
Pierre Lumsden Mike Langley Phillip Smitham Sally Young Nina Ruiz Jeremy Hart Zita Crewe Janet Leffler Jonty Kinsella Sally Durant
At the Annual General Meeting on 30[th] July 2020, all trustees resigned their positions, in accordance with the Club’s Constitution and all, with the exception of Jeremy Hart, stood for re-election and were duly reelected. At the Annual General Meeting Fay Bordbar was elected as a trustee.
On 10[th] November 2020, Jonty Kinsella resigned as a trustee and on 23[rd] February 2021, David Arundel was co-opted as a trustee and stands for re-election. On 18[th] March 2021, Fay Bordbar resigned as a trustee.
Under the requirements of the Constitution, all trustees are required to resign their positions at each annual general meeting and may offer themselves for re-election if proposed and seconded. The governing documents define the ongoing arrangements for trustees to run RBC CIO. Up to ten trustees can be directly elected. Direct elections of trustees are held under the Constitution of the Club.
1
**Richmond Bridge Club CIO Trustees’ Report for the year ended 31 March 2021**
The Officers for the period of operation documented here were:
Pierre Lumsden Chairman Mike Langley Secretary Phillip Smitham Treasurer
## **Governance and management**
The governing document is the RBC CIO Constitution adopted on 11[th] October 2017 which became recognised by the Charity Commission when the Charitable Incorporated Organisation (CIO) was registered on 7[th] November 2017. This document was modified on 17[th] August 2020.
The operational activities of RBC CIO started on 7[th] November 2017, when it acquired the undertaking and all the assets and liabilities of Richmond Bridge Club.
In planning the charity’s activities, the trustees kept in mind the Charity Commission’s guidance on public benefit.
All trustees were briefed on the role of trustees of RBC CIO, given copies of the governing documents of the club and referred to the detail on the Charity Commission website related to becoming a trustee and to the guidance on public benefit.
The trustees of the Club will consist of the Officers of the Club together with up to 7 other members of the Club, who shall be elected at an Annual General Meeting of the Club and shall retire annually at the ensuing Annual General Meeting but may then stand for re-election. Any member may make application for the position of trustee and falls to be voted on at Annual General meeting. If a position for a trustee becomes available during the year, the trustees may appoint a member until the following Annual General Meeting. The Club’s Officers and trustees work entirely on a voluntary basis.
Operational details are delegated to the Manager of RBC CIO whose terms of reference are agreed by the trustees. Until 22[nd] March 2021, the Manager was Marietta Andree who was the Manager during the transition from the members club to the CIO. The Manager is an employee of RBC CIO and governed by the terms of an employment contract. The Manager has the authority to employ staff where it is felt necessary to do so and has the authority to run RBC CIO on a day to day basis. The trustees held regular monthly meetings during the period at which the Manager was present. On 13[th] October, the trustees informed members that a new role, Chief Executive, had been added to the Club’s managerial organisation and that, after consultation with the Manager, Julia Davies had been appointed to this role.
The Club is affiliated to The English Bridge Union (“EBU”) and participates in the Surrey Bridge Association.
## **Explanation of the work of RBC CIO**
## **Objectives**
The Club maintains premises for the purposes of providing bridge playing opportunities for its beneficiaries. Encouragement and facilities are made available to attract all those who want to engage in the game of bridge. Membership is open and visitors are welcome.
2
**Richmond Bridge Club CIO Trustees’ Report for the year ended 31 March 2021**
The objects of RBC CIO are:
- The advancement of amateur sport by promoting the game of bridge principally but not exclusively for the benefit of the residents of Richmond and Twickenham and the surrounding area
- The provision of facilities for the learning, teaching and playing of bridge principally but not exclusively for the benefit of the residents of Richmond and Twickenham and the surrounding area with the object of improving conditions of life.
## **Activities**
The main emphasis has been on providing facilities to play bridge at 15 sessions per week. The charity also hosts several teaching sessions each week during term times. Additional competition sessions have been run on a few weekends.
At times when the Club’s premises are not required for club bridge sessions, the Club is willing to rent the space to other organisations.
The Club supports the development of junior bridge in the County. Juniors are welcomed at the Club. To ensure that we comply with all procedures, the Club has ensured that we adhere with statutory regulations relating to Child Protection.
## **Achievements and Performance**
All the bridge sessions that are currently run have space to accommodate additional beneficiaries and membership of the Club is open to all applicants.
The Club jointly runs weekly duplicate sessions for recent learners.
The number of members of the Club has increased to 1,295. The turnover of members in recent years has been in the region of 10% per annum.
The Manager of the Club regularly reviews whether provision should be made for additional sessions. Planning is undertaken to encourage additional members, where necessary, to be trained as Directors so that all sessions can be professionally run.
## **Activities during the Pandemic**
Due to the Covid-19 pandemic, the clubhouse has been closed for the entire period in question. All bridge playing and learning sessions, previously in the clubhouse, have been replaced with online bridge playing and learning sessions of roughly equivalent standard. Up to 31 March 2021, approximately 840 of our members registered to play online.
During the absence from the Club, the trustees meet via electronic communication on a monthly basis.
## **Financial Review**
During this period of activity, the charity has funded its bridge operations by raising funds from members’ annual subscriptions and playing and learning bridge online.
Players pay a standard amount (known as “table money”) for each session of online bridge playing they attend, mostly £4 (but £2 or £3 for shorter sessions and free for full time students and juniors). Non-members of the charity are asked to pay an additional sum of £2 at each online session they attend.
3
## **Richmond Bridge Club CIO Trustees’ Report for the year ended 31 March 2021**
It is the Club policy to hold sufficient reserves equal to a minimum of three months of the Club’s fixed costs of expenditure. At the financial year end, the Club held Net Current Assets in excess of £16,000 and funds held at banks in excess of £100,000. This is deemed sufficient to maintain the ongoing business of the Club.
At the 31[st] March 2021, the Total Funds held by the Club amounted to £107,529 (31.03.2020 - £142,355).
The trustees are aware that there are risks and uncertainties involved with the running of a club for bridge playing. The main uncertainty being the age of many players and the universal diminishing number of bridge players worldwide. To counter the possible drop in numbers, prior to the pandemic, the Club commenced teaching of bridge in schools and Junior bridge sessions at the Club; hoping that such will encourage bridge playing in younger generations. The Club also has extensive teaching programmes for new and intermediate players.
The trustees hold regular monthly meetings, having reports of administration and financial progress to ascertain the progress.
The only fund that the club maintains is the General Fund which is unrestricted.
## **Provisions**
The trustees have decided the charity should carry a provision for the end of lease repairs and renewals necessary under the obligations set out in the lease with our Landlord, Cambridge Park Bowling and Sports Club Ltd. As the age of the building increases, we consider that further funds may be necessary to maintain the standard required.
## **Independent Examiner**
The trustees consider that an audit is not required for this period and that an Independent Examination is needed. The Independent Examiner services have been contracted to a qualified body.
## **Plans for future years**
While the clubhouse was closed, the Club took the opportunity to renovate the Club’s toilet facilities. Work has also begun on renovating both the Office and Lounge in the clubhouse. The trustees deemed this work to be necessary in the short to medium term and seized the opportunity of carrying out the work while the clubhouse was closed, thereby avoiding the disruption that would necessarily be caused if such work had to be carried out during normal clubhouse operations. Renovations to the Office and Lounge are planned to be complete before the re-opening of the clubhouse in July 2021.
This report was approved by the trustees on 9th July 2021 and signed on their behalf.
**Pierre Lumsden** Chairman
4
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2021 Independent Examiner's Report to the Trustees**
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 March 2021, which comprise the Statement of Comprehensive Income and income statement, the Balance Sheet and the related notes.
## **Respective responsibilities of trustees and examiner**
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act;
- to state whether particular matters have come to my attention
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared accounts in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in reference to the accounting and Reporting by Charities:Statement of Recommended Practice issued in 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for periods beginning on or after 1 January 2015.
In connection with my examination, I confirm that no matter has come to my attention:
- (a) which gives me cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; or
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act; or
- that the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
have not been met or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Paul Alexander BFP FCA for and on behalf of
Accountancy Management Services Limited Chartered Accountants
South Street House 51 South Street Isleworth Middlesex TW7 7AA
**DATE:9[th] July 2021**
5
## **Richmond Bridge Club CIO CIO Financial Statements for the year ended 31 March 2021 Statement of Comprehensive Income And Income Statement**
|**Note**
**Income**
Donations and legacies
6
Charitable activities
7
Other trading activities
8
Investment income
Other
9
**Total Income**
**Expenditure**
Costs of raising funds
10
Expenditure on charitable activities
11
Other
12
**Total expenditure**
**Net (deficit)/income and movement in funds**
**Total funds brought forward**
**Total funds carried forward**|**Year**
**to**
**31.03.2021**
**All unrestricted**
**£**
35,228
205,077
-
310
33,558
**274,173**
9,854
90,751
208,394
**308,999**
**(34,826)**
142,355
**107,529**|**Year**
**to**
**31.03.2020**
**All unrestricted**
**£**
6,189
234,255
93,230
539
31,889|
|---|---|---|
|||**366,102**|
|||113,121
96,237
155,362|
|||**364,720**|
|||**1,382**
140,973|
|||**142,355**|
6
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2021 Balance Sheet as at 31 March 2021**
|**Note**
**Fixed Assets**
Tangible fixed assets
14
**Total fixed assets**
**Current assets**
Stock
15
Debtors
16
Cash at bank and in hand
**Total current assets**
**Current Liabilities**
Creditors falling due within one year
17
**Net current assets**
Provision for liabilities
18
**Net assets**
**The funds of the charity:**
**Unrestricted funds**
19|**As**
**at**
**31.03.2021**
**All unrestricted**
**£**
104,127
**104,127**
12,688
3,768
100,033
**116,489**
99,087
**17,402**
14,000
**107,529**
**107,529**|**As**
**at**
**31.03.2020**
**All Unrestricted**
**£**
81,399|
|---|---|---|
|||**81,399**|
|||9,235
5,827
109,294|
|||**124,356**
49,400|
|||**74,956**|
|||14,000|
|||**142,355**|
|||**142,355**|
Approved by the Trustees and signed on their behalf on 9[th] July 2021
## **Phillip Smitham**
Treasurer
7
**Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements**
## **1. Accounting policies**
## **a) Basis of preparation**
The financial statements have been prepared under the historical cost convention on an accruals basis and in compliance with the Statement of Recommended Practice, Accounting and Reporting by Charities applicable in the United Kingdom and the Republic of Ireland (FRS102) issued on 16 July 2014. They are prepared in pounds sterling and are rounded to the nearest pound.
## **b) Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.
## **c) Income**
Income is recognised when there is entitlement, certainty of receipt and the amount can be recognised with sufficient reliability.
## **d) Grant income**
During the Covid-19 pandemic, the government introduced a Job Retention Scheme grant. Job Retention Scheme grants are recognised in the period to which the underlying furlough staff costs relate to.
## **e) Creditors and provisions for liabilities and charges**
A liability is recognized for the amount that the charity anticipates it will pay to settle a debt or the amount it has received as an advance payment for goods or services it must provide. A provision is recognized when:
- There is a present obligation at the reporting date as a result of a past event,
- it is probable that a transfer of economic benefit, usually in the form of cash, will be required in settlement, and
- the amount of the settlement can be estimated reliably.
## **f) Allocation of support costs**
Support costs are allocated to individual activities where they are directly related to that activity. Where the support cost is not directly related to an individual activity, it is allocated to activities on the basis of the proportion of total resources expended for each activity.
8
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements**
## **g) Tangible fixed assets and depreciation**
The leasehold property is amortised on a straight-line basis over the duration of the lease. Other tangible fixed assets, comprising office, catering and bridge furniture and playing equipment, are stated at cost and depreciated over their estimated useful lives of between 5 and 10 years on a straight-line basis.
## **h) Stock**
Stock is valued at the lower of cost and net realisable value.
## **i) Provisions**
Provision is being built up for the estimated cost of repairs and renewals necessary under the terms of the property lease, based on the Trustees’ estimates of such costs. The obligations are contained in the lease with the club’s Landlord, Cambridge Park Bowling and Sports Club Ltd.
## **2. Accounting Period and Comparative figures**
These financial statements are for the year ended 31[st] March 2021. The comparative figures are for the year ended 31 March 2020.
## **3. The Charity**
RBC CIO was registered as a charity with the Charity Commission on 7[th] November 2017, charity number 1175613. The club is based at Cambridge Park, Twickenham, TW1 2PG. The charity is a public benefit entity.
## **4. Leasehold property**
The charity holds a lease of the property at Cambridge Park, East Twickenham, Middlesex TW1 2PG. On 16 April 2019, the landlord, Cambridge Park Bowling and Sports Club Ltd, agreed to an extension of the lease for a further seven years and four months until 3 August 2034.
## **5. Commitments**
The Trustees have undertaken to refurbish parts of the clubhouse during the lockdown due to the Covid pandemic. It is estimated that the cost will be approximately £16,800.
9
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements**
|**6.**
**Donations and legacies**
Donations
Gift Aid
Job Retention Scheme grant|**Year to**
**31.03.2021**
**£**
3,439
7,550
24,239
**35,228**|**Year to**
**31.03.2020**
**£**
603
5,586
-|
|---|---|---|
|||**6,189**|
## **7. Charitable activities**
This year the income arises from the charity’s own bridge playing sessions online, letting out of club house space when there was a window of opportunity between pandemic lockdowns and for reduced teaching sessions run by RBC CIO, as follows:
|Table money
Online Income
Teaching income
Room hire and bridge events
**8.**
**Other trading activities**
Club bar and catering sales
Proceeds from social events
Car parking sales
Diary and card sales
Dealing service sales
Equipment hire
Profit on sale of asset
**9.**
**Other**
Member subscriptions
Surplus from Café Bridge
**10.**
**Cost of raising funds**
Club bar and catering
Social events
Car parking|-
191,494
13,391
192
**205,077**
**£**
-
-
-
-
-
-
-
**-**
**£**
33,558
-
**33,558**
**£**
9,854
-
-
**9,854**|199,154
2,775
28,260
4,066|
|---|---|---|
|||**234,255**|
|||**£**
66,809
11,821
12,661
11
603
354
971|
|||**93,230**|
|||**£**
27,248
4,641|
|||**31,889**|
|||**£**
86,180
11,811
15,130|
|||**113,121**|
10
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements**
|**11.**
**Expenditure on charitable activities**
Bridge directors’ fees
Online costs
Juniors and schools’ costs
Teaching costs
EBU pay to play
Dealing costs
Prizes and honour boards
Bridge stationery and supplies
Competition entry costs
Charitable giving
**12.**
**Other**
Administration salaries and self-employed costs
Volunteers expenses
Property and equipment repairs
Equipment rental and service charge
Rent and rates
Insurance
Advertising and promotion
Printing and stationery
Cleaning
Utilities
Subscriptions
Credit card finance charges
Professional fees
Software costs
Miscellaneous
Amortisation and depreciation
**13.**
**Employees**
**Employment costs**
Wages and salaries
Settlement agreement
Redundancy
Social security
Employers contributions to defined contribution pension scheme|**£**
-
69,712
-
2,805
15,534
1,560
(900)
1,820
40
180
**90,751**
**£**
154,420
-
6,291
854
11,858
2,725
76
925
9,278
4,951
1,012
742
850
2,154
486
11,772
**208,394**
**£**
108,691
30,000
2,742
6,686
377
**148,496**|**£**
47,948
-
8,709
7,914
14,514
6,891
203
9,461
420
177|
|---|---|---|
|||**96,237**|
|||**£**
54,575
3,954
22,069
1,142
16,012
2,284
5,282
3,506
19,093
9,964
2,672
3,219
950
-
221
10,419|
|||**155,362**|
|||**£**
98,693
-
-
4,544
657|
|||**103,894**|
11
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements**
## **Employees (Continued)**
The above employments costs are included in Administration salaries and self-employed costs of £154,420 in note 12.
Remuneration for key members of staff amounted to £100,034 (Year to 31.03.2020: £40,000). The remuneration of one member of staff (excluding employer pension costs) is in the range of £70,000 to £79,999 (2020: No such remuneration).
The average monthly number of full-time equivalent employees during the period was 5 of which 2 were administration staff and 3 were bar staff (2020: 2 and 3 respectively).
## **14. Tangible fixed assets**
|**Cost**
At 01.04.2020
Additions in period
Disposals
At 31.03.2021
**Amortisation and depreciation**
At 01.04.2020
Charge for the year
On disposals
At 31.03.2021
**Net book value carried forward**
Net book value brought forward
**15.**
**Stock**
Bar and catering
Car parking vouchers
Bridge stationery and supplies
Teaching aids|Leasehold
Property
**£**
155,471
34,500
-
**189,971**
91,593
6,791
-
**98,384**
**91,587**
63,878|Fixtures
&
Fittings
**£**
103,143
-
-
**103,143**
85,622
4,981
-
**90,603**
**12,540**
17,521
**£**
1,223
3,758
7,311
396
**12,688**|Total
**£**
258,614
34,500
-
**293,114**
177,215
11,772
-
**188,987**
**104,127**
81,399
**£**
1,223
305
7,311
396|
|---|---|---|---|
||||**9,235**|
12
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements**
|**16.**
**Debtors**
**£**
Accrued income
1,136
Prepayments
2,632
**3,768**
**17.**
**Creditors falling due within one year**
**£**
Members subscriptions in advance
861
Members accounts
41,124
Trade creditors
1,008
Accrued expenses
36,036
Taxation and Social Security
20,058
**99,087**
**18.**
**Provision for liabilities**
**£**
Provision at end of previous period
14,000
Charged in period
-
Provision at end of period
**14,000**
**£**
**19.**
**Total Funds**
**All Unrestricted**
Total funds brought forward
142,355
Movement in funds
(34,826)
Total funds carried forward
**107,529**|**£**
3,387
2,440|
|---|---|
||**5,827**|
||**£**
13,428
9,550
2,103
8,659
15,660|
||**49,400**|
||**£**
8,000
6,000|
||**14,000**|
||**£**
**All Unrestricted**
140,973
1,382|
||**142,355**|
## **20. Leasehold Property**
During the year, under the terms of the lease held with the Landlord, Cambridge Park Bowling and Sports Club Ltd., the rental charge would have been £15,810 for the period. As a result of the Covid-19 pandemic, the Landlord granted the Charity a rent-free period equal to a quarter’s rent amounting to £3,952. Until the next break clause of the lease on 4[th] April 2022, the charity will be required to pay £15,810.
## **21. Related party transactions**
Members of the trustee board are occasionally called upon to act as session directors. When they are remunerated, they are remunerated on the same basis as other session directors with similar qualifications. The total paid to trustees and related parties for such services in the year was £ Nil (31.03.2020: £4,930).
13
**Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements**
## **22. Trustees remuneration**
Other than disclosed in the Related party transactions (Note 21), none of the trustees have been paid any remuneration or received any other benefits from an employment with the charity.
No trustee expenses have been incurred.
## **23. Independent Examiner’s remuneration**
The remuneration for the Independent Examiner for the year is £850 (2020: £950).
## **24. Going concern**
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Based on this, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
14