The Cocks and Hens Lawn Tennis Club
ANNUAL REPORT OF THE TRUSTEES 2021
1 Administrative details
Name: The Cocks and Hens Lawn Tennis Club, also referred to as Cocks and Hens Cambridge Tennis
Registration number: 1182769
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Location: Grantchester Road, Cambridge, CB3 9ED
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Trustees: Ben Chivers (Treasurer), Simon Elliott (Chairman), Ruth Golombok (Trustee), Paul Handy (Trustee), Julija Shabanova (Trustee)
2 Structure, governance and management
The Cocks and Hens Lawn Tennis Club is a Charitable Incorporated Organization (CIO), first registered with the Charity Commission on 3 April 2019. Prior to that, the Club was a member’s club, operating as an unincorporated organization, believed to have been founded in the late 1870s. An Extraordinary General Meeting of the Club on 21 June 2018 voted that the Club should apply for CIO status and agreed the draft constitution to be submitted to the Charity Commission. It is governed by six Trustees, named in that submission. All original Trustees retired at the first Annual General Meeting (AGM) held on 22 February 2022. Immediately following, at the same AGM, the current Trustees were elected (or re-elected) to their respective positions.
The Charity Commission offer significant documentary support for new Trustees, which was circulated to all six shortly after registration. An initial meeting of the Trustees was held in May 2019 to discuss issues arising from the new status and the role of the former Management Committee. Draft Terms of Reference for this Committee were agreed and a subsequent meeting between the Trustees and members of the Management Committee has provided further clarification of their respective responsibilities in the decision-making process. A set of Financial Regulations and Procedures was agreed at the second meeting of the Trustees.
The process for the election of the new Trustees at the AGM is transparent and supportive. A circular to members makes it clear when Trustees are retiring and when positions are open to all members of the Club.
3 Financial Review
The Club policy on financial reserves states:
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“The Club must hold financial reserves in order to:
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Maintain its ability to continue operating despite a
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significant delay in income streams;
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Protect against fluctuations in income streams and unforeseen costs;
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Enable replacement and repair of major capital items, particularly courts and floodlights;
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To fulfil contracted obligations in the event of having to cease its operations;
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Hold funds to restructure or finance future growth and development.
The Trustees believe that an ideal level of reserve for the Club is the amount of the sinking fund required to cover depreciation of courts and floodlights over their agreed lifespan together with one quarter of the annual outgoings of standard running costs for the previous financial year. It is however recognized that, on occasions, it may be necessary to depart from this in the short term in order to achieve long term objectives.
An annual review of reserves will be carried out by the Trustees in order to:
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compare current reserves held with current policy level;
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ensure the reserves level requirement continues to be appropriate after consideration of all financial risks and current/future plans;
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ensure current budgets and future financial plans remain consistent with the reserves policy.”
In order to meet the recommendations of the LTA regarding depreciation, the Club aims to put £18,500 pa into the sinking fund, increased from £14,400 in the previous year. The Club operated a cash surplus of approx. £44,000 in 2021 and the Trustees took the view that the sum added to the sinking fund for 2021 should be £18,500.
Projections for the sinking fund show the need to accumulate around £120,000 by 2028 in order to pay for resurfacing of courts. Reserves on 31 December 2021 were £114,334 (with a sinking fund of £63,500 for the replacements of courts and floodlights).
4 Public benefit statement
In exercising their powers, the Trustees believe that they have complied with the requirement to have due regard to the guidance on public benefit published by the Charity Commission
5 Objectives and activities
The object of the Club is “the promotion of community participation in healthy recreation for the benefit of the inhabitants of Cambridge and the surrounding area, in particular by the provision of facilities for playing tennis.”.
Our activities have reflected the Charity Commission’s guidance on public benefit. The game of tennis promotes health, physical and mental skills and our core activities are designed to encourage members to play the game through a variety of options:
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Regular Club sessions for members to play with a variety of opponents;
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The provision of a substantial programme of tennis coaching for all ages, genders and standards;
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A booking system that allows members to play pre-arranged games with other members or in regular groups;
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A programme of internal competitions for both juniors and adults varying from fun tournaments, through to a Club Ladder and an annual Club tournament.
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The provision of 20 adult and 4 junior teams that play in local and National leagues.
These activities benefit the local community through the provision of healthy recreation, development of tennis skills through the progression routes provided and simple enjoyment of fresh air and exercise.
6 Achievements and performance
During the past year the Club has managed to achieve an increase in its membership, consolidating its position of provider of tennis to the local community. It has improved its induction of members and reduced its subscriptions for mini-juniors to £5. Further improvements to the Club’s safeguarding procedures have been made, with the result that a highly satisfactory result was achieved in an LTA audit in March 2019.
The designation of CIO status has resulted in the need to review the operation of the Club and the five-year development has been reviewed to give greater focus on our community objectives.
Signed 20[th] Oct 2022 Simon Elliott (Chairman of the Trustees)
Final Financial Statements For the Year Ending 31st December 2021
Cocks and Hens Lawn Tennis Club
Ben Chivers 29/1/2022
Cocks and Hens Lawn Tennis Club
Treasurers Report 2021
Even with further Covid disruption the club has had another positive year from a financial perspective. Following discussion at the 2020 AGM, subscriptions were raised in 2021 to cover the higher running costs of the club and we have, throughout the year seen subscription income rise above the budgeted figure of £70,000 to almost £80,000. This is very pleasing and a reflection on the facilities and tennis on offer to member across all standards and age groups. It would also not have been possible without the work put in by the club’s administration team who have had to deal with the vagaries that the ongoing Covid pandemic has thrown at them.
Sinking Fund:
After the sinking fund contribution of £18,500 there was a net adjustment to the general fund of £30,021, this was made up of a further £20,431 of Covid related grants received during the year and the higher than budgeted subscription income. We do not expect there to be any further Covid grants forthcoming and so the membership should not expect to see such a healthy addition to the general fund in the 2022.
Other Costs and Income:
Other than the Covid grants and higher subscriptions, income was broadly on a par with the previous year and budget. There was a successful plant sale and social event held at the club and a Christmas Raffle so many thanks to all those who helped organize and run those events.
The access road was once again patched in Autumn 2021 at a cost of £4,800 and the management committee and trustees have budgeted for this to be an annual cost until a financially viable longer terms solution can be agreed with the Landlord and their agents. We are though aware that this is still an issue for members.
The cost structure of the club appears settled with 2021 costs in line with 2020 except where budgets had changed such as administration costs where we had planned for the higher spend in the year. Court maintenance was over budget and up on 2020 as the management committee took the decision to fund further improvements to the two grass courts and croquet facilities in Autumn 2021 so members should see the benefits of this in the year ahead. The capital costs and sundries were made up by the benches, which were funded by the
previous year’s social events and the new honours board displayed in the clubhouse. The target for 2022 must be to maintain subscription income at or close to 2021 levels and continue to keep a watchful eye on the clubs cost structure.
J B Chivers Treasurer
Cocks and Hens Lawn Tennis Club
| General Fund Income and Expenditure for year -> Income | 2020 2021 |
|---|---|
| £ £ |
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| Subscriptions | 60,535 79,980 |
| Visitor Fees | 660 936 |
| Gift Aid | 3,413 1,641 |
| Ball Machine Hire | 586 498 |
| Social Functions | 0 382 |
| Interest | 1 1 |
| Tennis Ball Sales | 175 387 |
| Sundries | 1,230 472 |
| Contribution to Access Rd | 0 0 |
| Grants (Floodlights/Covid 2020) | 67,533 20,431 |
| Donations and contributions due | 32,949 1,139 |
| 167,08 2 105,867 |
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| Expenditure | |
| Rent Rates & Insurance | 6,800 5,343 |
| Turnover Rent | 6,118 8,092 |
| Electricity and Water | 2,609 2,685 |
| Clubhouse Maintenance & Repairs | 4,517 4,916 |
| Upkeep of Courts and Grounds | 12,417 14,869 |
| Access Road, net of Contributions | 4,800 4,800 |
| Coaching Costs | 662 300 |
| Club Administration | 6,566 13,404 |
| Adverts and Marketing | 523 1,846 |
| LTA Levy/League Fees | 1,700 1,200 |
| Tennis Balls | 488 599 |
| Social Functions | 336 180 |
| Capital_Costs/Exceptional Items_ | |
| Floodlights | 83,092 1,188 |
| Sundries | 35 2,043 |
| 44,469 61,465 |
|
| In year Surplus/(Defcit) | 36,418 44,402 |
| Contribution to Sinking Fund | 18,500 18,500 |
| Net adjustment to General Fund | 17,918 29,902 |
Cocks and Hens Lawn Tennis Club
| Balance Sheet as at 31st December | 2020 2021 |
|---|---|
| Current Assets | £ £ |
| Debtors | - 338 |
| HMRC Gift Aid | 6,853 8,495 |
| Payment in advance (rent) | 1,250 0 |
| Scottish Widows | 7,018 7,019 |
| Bank Account | 61,300 107,819 |
| 76,421 123,671 |
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| Current Liabilities | |
| Creditors | 6,489 9,337 |
| Prepayments | |
| 6,489 9,337 |
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| Net Assets | 69,932 114,334 |
| Represented by | |
| General Fund | 24,932 50,834 |
| Sinking Fund | 45,000 63,500 |
| 69,932 114,334 |
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| Memorandum - fund movement in year | |
| General Fund | |
| Opening Balance | 7,014 24,932 |
| Surplus/(Defcit) for year | 17.918 25,902 |
| ClosingBalance | 24,932 50,834 |
| Sinking Fund | |
| Opening Balance | 26,500 45,000 |
| Contribution in year | 18,500 18,500 |
| Closing Balance | 45.000 63,500 |
I have examined the books and records of the Cocks and Hens LTC and confirm that the attached Income and Expenditure figures, together with the Balance Sheet are correct as shown.
Signed:
Date 4[th] August 2022
Mr A B Warne Chartered Tax Adviser