**REGISTERED CHARITY NUMBER: 1177797**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **FOR**
## **TRI-ANGLIA TRIATHLON CLUB**
LEES Chartered Certified Accountants Ingram House Meridian Way Norwich Norfolk NR7 0TA
**TRI-ANGLIA TRIATHLON CLUB**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|7 to 11|
|**Detailed Statement of Financial Activities**|12 to 13|
**TRI-ANGLIA TRIATHLON CLUB**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023**
The trustees present their report with the financial statements of the charity for the year ended 30 September 2023. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Charity objectives**
The charity's objective is the promotion of community participation for both adults and juniors in healthy recreation in Norfolk and Suffolk, particularly the provision of events, coaching and training in the three sports of Triathlon (Swimming, Cycling and Running).
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The year ended 30th September 2023 is the fifth period of operation for the CIO and we as Trustees believe that, as in prior years, the Charity has maintained its financial integrity. The financial integrity of the CIO will allow it to fully continue with its charitable objectives in the future, in accordance with the recommendations of the British Triathlon Federation.
The CIO provides for all those people in the community who are interested in swim, bike and run activities and caters for all abilities and ages. The CIO provides training sessions for its members which have consisted of pool training, open water swimming, indoor cycling, organised cycle rides and running sessions.
The Trustees and Committee agreed within this reporting period that junior membership would be free from January 2023, next reporting period, to encourage participation of young people to participate in swim, bike and run activities. Overall, membership numbers have grown since the last period and remain in line with prior years. Membership increased in this period from 573 to 641.
As well as promoting our own events, discussed below, the CIO has successfully promoted and encouraged participation in other external events including the East Anglian Cross Country League and the round Norfolk relay.
The CIO's activities enable individuals to participate safely in open water swimming, which continues to be the primary training need along with swim technique sessions (both pool and open water) as reported by members to be their primary training need. During this period we extended our program of summer open water sessions into the winter period to provide opportunities for cold water swimming which is found to be beneficial to mental and physical health by some members. The committee and trustees are keen that the CIO continues to extend the range of activities they offer to encourage participation in the sports of triathlon and will continue to look for opportunities to expand the CIO's provision.
The CIO is indebted to its volunteers and members who have organised several cycling and running sessions. The previous pathway designed to facilitate progression of volunteers to coaches and activators has resulted in a number of very enthusiastic and committee member-activators providing innovative and popular sessions for instance; 5 and 10k monthly winter run series, virtual pyramid challenges and a variety of cycling sessions (Norfolk sign collection).
The CIO does not employ coaches but contracts with self-employed coaches to deliver these sessions.
The CIO has supported coaching in partnership with a local school enabling young people to participate in swim, bike and run training at no cost. The young people have flourished and continue to engage in the sessions which are held outside of school time using facilities available within the school grounds. This is something that the Trustees and Committee remain committed to supporting.
The same weekend as our annual large event we hosted the British University and Colleges Sport (BUCS) Olympic triathlon. Both of which were non wetsuit open water events due to the water temperature being in excess of 28 degrees. We plan to continue to develop the BUCS relationship into the next reporting period. The Spring and Autumn Waveney Triathlon returned to the calendar with great support from volunteers. In this reporting period we saw the return of a duathlon, which welcomed 74 competitors to the event, now being hosted at Lingwood.
## **FINANCIAL REVIEW Financial review**
The CIO's financial performance during the period and the year-end disposition are considered by the Trustees to be satisfactory with a surplus for the year ended 30th September 2023 of £2,834 (2022 - £228).
Page 1
**TRI-ANGLIA TRIATHLON CLUB**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **FINANCIAL REVIEW**
## **Reserves policy**
It is the policy of the CIO that unrestricted funds which have not been designated for a specific use should be maintained at a minimum level of £20,000 to meet the estimated maximum cost of the charity's major event, the Norwich Triathlon, being cancelled at short notice. The Trustees consider that in addition to the fore-mentioned £20,000, the combined pre-incorporation reserves of £8,682 and post incorporation reserves attributable to the surplus at 30th September 2023 of £43,335 (2022 - £40,501) give the CIO a firm financial basis for continuing to develop and promote the sport of triathlon.
## **Risk evaluation**
The Trustees have assessed the major risks to which the CIO is exposed and are satisfied that systems are in place to mitigate these.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The organisation is a Charity Incorporated Organisation (CIO) and is registered with the Charity Commission.
Trustees are appointed by vote by the membership at the AGM for a three-year term in accordance with the CIOs constitution. All are welcome to apply.
The day-to-day running of the club is undertaken by a committee under the leadership of a chairperson. The committee is appointed by the Trustees and ratified by the members at the AGM. Further club officers assist the committee with important specific tasks such as kit officer and specific event organisers.
The club relies on volunteers from within the club to organise and help with club events such as the Norwich Triathlon. The club does not pay any member or other volunteer for their time unless services are provided by a member who has specific skills, experience and qualifications to carry out a task which otherwise the CIO would need to buy in.
## **Safeguarding Policy**
The Trustees acknowledge their responsibility of managing risk which is a governance priority and a fundamental part of operating this charity for the public benefit.
As part of fulfilling our duties as Trustees we acknowledge that we must take reasonable steps to protect from harm adults and children who come into contact with our CIO.
We accept the Charity Commission will hold all Trustees to account if things go wrong and will check that Trustees followed government guidance and the law. As Trustees we acknowledge our responsibility for putting things right.
The CIOs policies relevant to this area are in accordance with the British Triathlon Federation safeguarding and protecting children policy requirements and include a code of conduct, a safeguarding and child protection policy, a health and safety policy, and a complaints and disciplinary policy.
## **Equality and Anti-Bullying Policy**
This CIO operates a strict policy of no discrimination or bullying in any form and any member experiencing or witnessing such an act is required to report the facts to a Trustee or committee member. The Trustees will proceed according to the complaints and disciplinary policy, reporting back to the member the action taken.
The CIO has adopted the British Triathlon Federation code of ethics and is committed to encourage equality and diversity within our club and at our open events. This is to ensure that everyone who participates in swim, bike and run activities can do so in a safe and fun environment and to be given the chance to experience the feelings of enjoyment, challenge and achievement that are inherent to the sport.
## **Induction and training of new trustees**
The charity encourages new Trustees to apply and has an induction programme whereby new Trustees will work closely with the existing ones for a period sufficient to enable them to obtain an understanding of the organisation.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1177797
Page 2
**TRI-ANGLIA TRIATHLON CLUB**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023**
**Principal address** Low Farm Saxlingham Nethergate Norwich Norfolk NR15 1TE
## **Trustees**
Mr N I Scarborough (resigned 23.11.2022) Mr M C Hilton Mr S R Hunter (resigned 3.3.2023) Ms A Ragosa Mr D C Eastaugh (appointed 10.1.2023) Mr J A Crawford (appointed 10.1.2023)
## **Independent Examiner**
LEES Chartered Certified Accountants Ingram House Meridian Way Norwich Norfolk NR7 0TA Approved by order of the board of trustees on 26/07/2024 and signed on its behalf by:
............................................. Mr M C Hilton - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TRI-ANGLIA TRIATHLON CLUB**
## **Independent examiner's report to the trustees of Tri-Anglia Triathlon Club**
I report to the charity trustees on my examination of the accounts of Tri-Anglia Triathlon Club (the Trust) for the year ended 30 September 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
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 Trust 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.
Anthony Brain
LEES Chartered Certified Accountants Ingram House Meridian Way Norwich Norfolk NR7 0TA
Date: ....26 July 2024.................
Page 4
## **TRI-ANGLIA TRIATHLON CLUB**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
14,636
**Charitable activities**
Club sporting events
54,364
Training events sales
41,085
Investment income
2
850
Other income
3,655
**Total**
114,590
**EXPENDITURE ON**
**Charitable activities**
Club sporting events
43,657
Training events sales
51,122
Overhead operating costs
14,405
Other
2,572
**Total**
111,756
**NET INCOME**
2,834
**RECONCILIATION OF FUNDS**
Total funds brought forward
69,183
**TOTAL FUNDS CARRIED FORWARD**
72,017|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-|2023
Total
funds
£
14,636
54,364
41,085
850
3,655
114,590
43,657
51,122
14,405
2,572
111,756
2,834
69,183
72,017|2022
Total
funds
£
18,484
41,449
32,293
232
3,810
96,268
35,620
45,480
9,286
5,654
96,040
228
68,955
69,183|
|---|---|---|---|
The notes form part of these financial statements
Page 5
## **TRI-ANGLIA TRIATHLON CLUB**
## **BALANCE SHEET 30 SEPTEMBER 2023**
|Unrestricted
Restricted
funds
fund
Notes
£
£
**FIXED ASSETS**
Tangible assets
5
2,536
-
**CURRENT ASSETS**
Stocks
6
10,261
-
Debtors
7
3,178
-
Cash at bank
81,672
-
95,111
-
**CREDITORS**
Amounts falling due within one year
8
(25,630)
-
**NET CURRENT ASSETS**
69,481
-
**TOTAL ASSETS LESS CURRENT LIABILITIES**
72,017
-
**NET ASSETS**
72,017
-
**FUNDS**
9
Unrestricted funds
**TOTAL FUNDS**|2023
Total
funds
£
2,536
10,261
3,178
81,672
95,111
(25,630)
69,481
72,017
72,017
72,017
72,017|2022
Total
funds
£
3,021
6,522
16,855
55,951
79,328
(13,166)
66,162
69,183
69,183
69,183
69,183|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26/07/2024 and were signed on its behalf by:
............................................. Mr M C Hilton - Trustee
The notes form part of these financial statements
Page 6
**TRI-ANGLIA TRIATHLON CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||2023|2022|
||£|£|
|Bank interest|850|232|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 September 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 September 2023 nor for the year ended 30 September 2022.
Page 7
continued...
## **TRI-ANGLIA TRIATHLON CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**4.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
funds
fund
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
18,484
-
**Charitable activities**
Club sporting events
41,449
-
Training events sales
32,293
-
Investment income
232
-
Other income
3,810
-
**Total**
96,268
-
**EXPENDITURE ON**
**Charitable activities**
Club sporting events
35,620
-
Training events sales
45,480
-
Overhead operating costs
9,286
-
Other
5,654
-
**Total**
96,040
-
**NET INCOME**
228
-
**RECONCILIATION OF FUNDS**
Total funds brought forward
68,955
-
**TOTAL FUNDS CARRIED FORWARD**
69,183
-
**5.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 October 2022
Additions
At 30 September 2023
**DEPRECIATION**
At 1 October 2022
Charge for year
At 30 September 2023
**NET BOOK VALUE**
At 30 September 2023
At 30 September 2022|Total
funds
£
18,484
41,449
32,293
232
3,810
96,268
35,620
45,480
9,286
5,654
96,040
228
68,955
69,183
Fixtures
and
fittings
£
20,798
1,022
21,820
17,777
1,507
19,284
2,536
3,021|
|---|---|
Page 8
continued...
**TRI-ANGLIA TRIATHLON CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**6.**
**STOCKS**
Stocks
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments and accrued income
Gift Aid
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**9.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Contingency Reserve
Pre-Incorporation fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1.10.22
£
40,501
20,000
8,682
69,183
69,183
Incoming
resources
£
114,590
114,590|2023
2022
£
£
10,261
6,522
2023
2022
£
£
-
7,063
1,404
3,922
1,774
5,870
3,178
16,855
2023
2022
£
£
8,043
10,518
17,587
2,648
25,630
13,166
Net
movement
At
in funds
30.9.23
£
£
2,834
43,335
-
20,000
-
8,682
2,834
72,017
2,834
72,017
Resources
Movement
expended
in funds
£
£
(111,756)
2,834
(111,756)
2,834|
|---|---|---|
Page 9
continued...
**TRI-ANGLIA TRIATHLON CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **9. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Contingency Reserve
Pre-Incorporation fund
**TOTAL FUNDS**|Net
At
movement
At
1.10.21
in funds
30.9.22
£
£
£
40,273
228
40,501
20,000
-
20,000
8,682
-
8,682
68,955
228
69,183
68,955
228
69,183|
|---|---|
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|Movement|
|---|---|---|---|---|
||resources|expended|in funds||
||£|£||£|
|**Unrestricted funds**|||||
|General fund|96,268|(96,040)||228|
|**TOTAL FUNDS**|96,268|(96,040)||228|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Contingency Reserve
Pre-Incorporation fund
**TOTAL FUNDS**|Net
At
movement
At
1.10.21
in funds
30.9.23
£
£
£
40,273
3,062
43,335
20,000
-
20,000
8,682
-
8,682
68,955
3,062
72,017
68,955
3,062
72,017|
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
210,858
210,858|Resources
Movement
expended
in funds
£
£
(207,796)
3,062
(207,796)
3,062|
|---|---|---|
Page 10
continued...
**TRI-ANGLIA TRIATHLON CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **10. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 September 2023.
Page 11
**TRI-ANGLIA TRIATHLON CLUB**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Membership sales
Gift aid & donations
Sponsorships
**Investment income**
Bank interest
**Charitable activities**
Event sales
Training sales
Supported events income
**Other income**
Kit sales
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Coaching fees
Event consumables
Event services
Day licences
Events for club members
Lifeguard fees
Medals and trophies
Membership costs
Payment costs
Training consumables
Venue hire - events
Venue hire - training
**Other**
Kit purchases
**Support costs**
**Administrative costs**
Accountancy
Bank charges
Depreciation
Donations and gifts
Garage hire
Insurance
Meeting and mileage costs
Organisation membership
Postage
Carried forward|2023
£
12,872
1,764
-
14,636
850
49,505
41,085
4,859
95,449
3,655
114,590
12,682
6,848
21,995
3,702
197
1,146
2,736
1,527
4,475
198
6,707
32,566
94,779
2,572
2,383
60
1,507
150
960
786
749
730
210
7,535|2022
£
12,275
5,870
339
18,484
232
35,493
32,293
5,956
73,742
3,810
96,268
10,105
4,390
19,439
2,562
315
438
3,818
2,009
4,701
660
3,755
28,908
81,100
5,654
283
102
1,372
175
880
764
26
305
355
4,262|
|---|---|---|
This page does not form part of the statutory financial statements
Page 12
**TRI-ANGLIA TRIATHLON CLUB**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**Administrative costs**
Brought forward
Printing and stationery
Social event costs
Training costs
Travel
Website
Total resources expended
**Net income**|2023
£
7,535
-
4,821
700
549
800
14,405
111,756
2,834|2022
£
4,262
58
564
2,914
658
830
9,286
96,040
228|
|---|---|---|
This page does not form part of the statutory financial statements
Page 13