**Richmond Bridge Club CIO Registered Charity Number 1175613**
## **Trustees’ Report and**
**Financial Statements for the year ended 31 March 2023**
## **Richmond Bridge Club CIO Trustees’ Report and Financial Statements for the year ended 31 March 2023**
## **Contents**
||Page|
|---|---|
|Trustees’ Report|1 - 4|
|Independent Examiner’s Report|5|
|Statement of Comprehensive Income including Income and Expenditure Account|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 - 14|
**Richmond Bridge Club CIO Trustees’ Report for the year ended 31 March 2023**
Richmond Bridge Club CIO Registered Charity 1175613 Cambridge Park, East Twickenham, TW1 2PG
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 accounting period were:
Sally Young Mike Langley Phillip Smitham Janet Leffler Sally Durant David Arundel
In April 2022, Jon Woodhouse resigned as a trustee and Vic Martin was coopted onto the committee.
At the Annual General Meeting on 20[th] July 2022, all trustees resigned their positions, in accordance with the Club’s Constitution at that time and, with the exception of Mike Langley and Janet Leffler, stood for reelection and were duly re-elected. Sally Young was duly elected as Chairperson. Vic Martin, Peter Streatfeild and Sarah Jackson were nominated as Trustees and duly elected.
At the Annual General Meeting on 20[th] July 2022, a motion was put to the membership for approval of the changes to the constitution to allow the appointment of trustees for a three-year term instead of a one-year term, with a maximum of three consecutive terms. The motion was carried.
On 18[th] November 2022, Titch Glenday was co-opted as a Trustee.
On 21[st] March 2023, David Arundel resigned as a Trustee.
1
## **Richmond Bridge Club CIO Trustees’ Report for the year ended 31 March 2023**
The Officers for the period of operation documented here were:
Sally Young Chairperson Mike Langley (resigned 20[th] July 2022) Secretary Vic Martin (appointed 20[th] July 2022) 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 recently modified on 17[th] August 2022 following the motion passed at the AGM (see above).
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 in accordance with the terms in the Club’s Constitution. Any member may make an application for the position of trustee and requires to be voted on at the 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. 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 16[th] December 2022 Julia Davies, the Club Manager, gave three months’ notice of her resignation. Richard Banbury was appointed to the role of Club Manager on 1[st] April 2023.
The Club is affiliated to The English Bridge Union (“EBU”) and participates in the Surrey Bridge Association.
2
**Richmond Bridge Club CIO Trustees’ Report for the year ended 31 March 2023**
## **Explanation of the work of RBC CIO**
## **Objectives**
The Club maintains premises for the purpose 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.
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 in the clubhouse 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.
During the shutdown of the clubhouse during the Covid-19 pandemic, online playing sessions were provided to the members. These online sessions have enabled some of our members, who find it difficult to attend the Clubhouse, to continue playing bridge and in particular with their regular partners. Even though club numbers continue to rise, we still provide 6 online sessions per week.
The Club supports the development of junior bridge in the County. Juniors are welcome at the Club. To ensure that we comply with all procedures, the Club has ensured that we adhere to 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 on 1[st] June 2023 was 1110 (01.06.2022 - 1145). 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.
3
**Richmond Bridge Club CIO Trustees’ Report for the year ended 31 March 2023**
## **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 both in the Clubhouse and online.
Players pay a standard amount (known as “table money”) for each session of bridge; £7 if playing in the Clubhouse and £4 (but £2 or £3 for shorter sessions and free for full time students and juniors) for online bridge. Non-members of the charity are asked to pay an additional sum of £3, if playing at the Clubhouse, and £2 for each online session they attend.
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 had Net Current Assets in excess of £58,000 (or £48,000 after provisions) and funds held at banks in excess of £120,000. This is deemed sufficient to maintain the ongoing business of the Club. On the 31[st] March 2023, the Total Funds held by the Club amounted to £153,861 (31.03.2022 - £126,909).
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, the Club 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 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**
The Club has invested in updating essential kitchen equipment, updating the air conditioning system and investigating the feasibility of solar panels in order to reduce the energy costs.
This report was approved by the trustees on 7[th] July 2023 and signed on their behalf.
**Sally Young** Chairperson
4
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2023 Independent Examiner's Report to the Trustees**
## **Independent Examiner's Report to the Trustees of Richmond Bridge Club CIO**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31[st] March 2023 which comprise the Statement of Comprehensive Income including income and expenditure statement, the Balance Sheet and the related notes.
## **Responsibilities and basis of report**
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **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 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
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.
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: 11[th] July 2023
5
## **Richmond Bridge Club CIO CIO Financial Statements for the year ended 31 March 2023 Statement of Comprehensive Income including Income and Expenditure Account**
|**Note**
**Income**
Donations, legacies and grants
5
Charitable activities
6
Other trading activities
7
Investment income
Other
8
**Total Income**
**Expenditure**
Costs of raising funds
9
Expenditure on charitable activities
10
Other
11
**Total expenditure**
**Net income and movement in funds**
**Total funds brought forward**
**Total funds carried forward**|**Year**
**to**
**31.03.2023**
**All unrestricted**
**£**
6,764
182,266
67,024
768
31,098
**287,920**
67,424
62,347
131,197
**260,968**
**26,952**
126,909
**153,861**|**Year**
**to**
**31.03.2022**
**All unrestricted**
**£**
22,088
172,738
26,441
144
31,496|
|---|---|---|
|||**252,907**|
|||35,174
68,763
129,590|
|||**233,527**|
|||**19,380**
107,529|
|||**126,909**|
6
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2023 Balance Sheet as at 31 March 2023**
|**Note**
**Fixed Assets**
Tangible fixed assets
13
**Total fixed assets**
**Current assets**
Stock
14
Debtors
15
Cash at bank and in hand
**Total current assets**
**Current Liabilities**
Creditors falling due within one year
16
**Net current assets**
Provision for liabilities
17
**Net assets**
**The funds of the charity:**
**Unrestricted funds**
18|**As**
**at**
**31.03.2023**
**All unrestricted**
**£**
104,879
**104,879**
12,783
6,134
120,254
**139,171**
80,689
**58,482**
9,500
**153,861**
**153,861**|**As**
**at**
**31.03.2022**
**All Unrestricted**
**£**
115,387|
|---|---|---|
|||**115,387**|
|||14,031
4,972
79,764|
|||**98,767**
66,245|
|||**32,522**|
|||21,000|
|||**126,909**|
|||**126,909**|
Approved by the Trustees and signed on their behalf on 7[th] July 2023
**Phillip Smitham**
Treasurer
7
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2023 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 Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS102)” (as amended for accounting periods commencing from 1 January 2019). The accounts have been prepared in accordance with applicable charity law. The accounts 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 quantified with sufficient reliability.
## **d) Grant income**
Following the Covid-19 pandemic, local government introduced grants for local businesses to assist in starting up after the pandemic. Grants are recognised in the period to which the underlying grants were received.
## **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 2023 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 2023. The comparative figures are for the year ended 31[st] March 2022.
## **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.**
**Donations, legacies and grants**
Donations
Gift Aid
Local government grants|**Year to**
**31.03.2023**
**£**
242
6,522
-
**6,764**|**Year to**
**31.03.2022**
**£**
1,526
7,495
13,067|
|---|---|---|
|||**22,088**|
9
**Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2023 Notes to the Financial Statements**
## **6. Charitable activities**
This year the income arises from the charity’s own bridge playing sessions both in the Clubhouse and online, letting out of club house space and for teaching sessions run by RBC CIO, as follows:
|Table money
Online Income
Teaching income
Room hire and bridge events
**7.**
**Other trading activities**
Club bar and catering sales
Proceeds from social events
Car parking sales
Diary and card sales
Dealing service sales
**8.**
**Other**
Member subscriptions
**9.**
**Cost of raising funds**
Club bar and catering
Social events
Car parking|**£**
114,632
50,745
15,571
1,318
**182,266**
**£**
47,024
12,601
7,026
-
373
**67,024**
**£**
31,098
**31,098**
**£**
51,427
11,838
4,159
**67,424**|**£**
49,711
107,141
14,886
1,000|
|---|---|---|
|||**172,738**|
|||**£**
19,458
3,860
2,585
5
533|
|||**26,441**|
|||**£**
31,496|
|||**31,496**|
|||**£**
25,694
2,863
6,617|
|||**35,174**|
10
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2023 Notes to the Financial Statements**
|**10.**
**Expenditure on charitable activities**
Bridge directors’ fees
Online costs
Teaching costs
EBU pay to play
Dealing costs
Bridge stationery and supplies
Competition entry costs
**11.**
**Other**
Administration salaries and self-employed costs
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
Bad Debts
Health & Safety compliance costs
Miscellaneous
Amortisation and depreciation
**12.**
**Employees**
**Employment costs**
Wages and salaries
Social security
Employer’s contributions to defined contribution pension scheme|**£**
7,883
20,301
10,894
12,197
5,679
5,280
113
**62,347**
**£**
64,546
7,300
634
19,094
3,156
1,549
1,318
8,962
6,811
1,475
1,600
950
865
61
135
393
12,348
**131,197**
**£**
63,423
1,844
1,261
**66,528**|**£**
15,372
44,628
4,039
2,645
2,221
(249)
107|
|---|---|---|
|||**68,763**|
|||**£**
64,669
14,733
1,018
15,862
2,863
415
556
7,240
5,108
1,521
686
930
549
-
-
284
13,156|
|||**129,590**|
|||**£**
58,278
1,324
774|
|||**60,376**|
11
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2023 Notes to the Financial Statements**
## **Employees (Continued)**
The above employments costs are included in Administration salaries and self-employed costs of £64,546 in note 11 and Club bar and catering of £51,427 in Note 9.
Remuneration for key members of staff amounted to £37,166 (Year to 31.03.2022: £36,364). There are no employees who received total employee benefits (excluding employer pension costs) of more than £60,000.
The average monthly number of full-time equivalent employees during the period was 2 of which 1 was administration staff and 1 was bar staff (2022: 1 and 1 respectively).
## **13. Tangible fixed assets**
|**Cost**
At 01.04.2022
Additions in period
Disposals
At 31.03.2023
**Amortisation and depreciation**
At 01.04.2022
Charge for the year
On disposals
At 31.03.2022
**Net book value carried forward**
Net book value brought forward
**14.**
**Stock**
Bar and catering
Car parking vouchers
Bridge stationery and supplies
Teaching aids|Leasehold
Property
**£**
214,387
-
-
**214,387**
106,834
8,244
-
**115,078**
**99,309**
107,553|Fixtures
&
Fittings
**£**
103,143
1,840
-
**104,983**
95,309
4,104
-
**99,413**
**5,570**
7,834
**£**
1,631
3,414
6,829
909
**12,783**|Total
**£**
317,530
1,840
-
**319,370**
202,143
12,348
-
**214,491**
**104,879**
115,387
**£**
1,728
3,216
8,647
440|
|---|---|---|---|
||||**14,031**|
12
## **Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2023 Notes to the Financial Statements**
|**15.**
**Debtors**
**£**
Accrued income
992
Prepayments
5,142
**6,134**
**16.**
**Creditors falling due within one year**
**£**
Members subscriptions in advance
6,156
Members accounts
45,415
Trade creditors
8,401
Accrued expenses
5,599
Other creditors
776
Taxation and Social Security
14,342
**80,689**
**17.**
**Provision for liabilities**
**£**
Provision at end of previous period
21,000
(Released)/Charged in period
(11,500)
Provision at end of period
**9,500**
**£**
**18.**
**Total Funds**
**All Unrestricted**
Total funds brought forward
126,909
Movement in funds
26,952
Total funds carried forward
**153,861**|**£**
865
4,107|
|---|---|
||**4,972**|
||**£**
2,018
40,130
6,506
6,603
-
10,988|
||**66,245**|
||**£**
14,000
7,000|
||**21,000**|
||**£**
**All Unrestricted**
107,529
19,380|
||**126,909**|
## **19. Leasehold Property**
Up until the rental break clause of the lease on 4[th] April 2022, the charity was required to pay £15,810 per annum. The rental, until the following break clause on 4[th] April 2027, is £18,992.
## **20. Related party transactions**
Members of the trustee board are occasionally called upon to act as session directors and teachers. When they are remunerated, they are remunerated on the same basis as other session directors and teachers with similar qualifications. The total paid to trustees and related parties for such services in the year was below £500 (31.03.2022: less than £500).
13
**Richmond Bridge Club CIO Financial Statements for the year ended 31 March 2023 Notes to the Financial Statements**
## **21. Trustees remuneration**
Other than disclosed in the Related party transactions (Note 20), 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.
## **22. Independent Examiner’s remuneration**
The remuneration for the Independent Examiner for the year is £950 (2022: £930).
## **23. 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.
## **24. Contingent liability**
The Club resolved the discussion with the English Bridge Union (“EBU”) pertaining to fees for ‘Online’ bridge playing. No requirement to back date charges for earlier periods was necessary.
14