**Charity Registration No. 1183759**
## **WIGMORE LAWN TENNIS CLUB CIO**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Ms Doris Ko Mr G Spenger Mr J Quinn Ms L McKerchar Mr P Moon Mr P Thomson-Glover Mr P Duckworth Mr R Rotti Ms S O'Dwyer Mr A Callus **Charity number** 1183759 **Principal address** 43 Becmead Avenue Streatham SW16 1UJ **Independent examiner** CB Reid Limited Wadebridge House 16 Wadebridge Square Poundbury Dorchester Dorset DT1 3AQ
Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 14|
Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
The trustees present their report and financial statements for the year ended 31 December 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the CIO's constitution , the Charities Act 2011 and "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**
The CIO's object ives are the advancement of amateur sport and the promotion of community participation in healthy recreation by (not exclusively) the provision of facilities and resources to enable the playing and coaching of tennis.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the CIO should undertake.
## **Achievements and performance**
The Covid-19 pandemic has meant that the club and our coaches haves had to adapt to constantly changing guidance on whether tennis is allowed, how many people can be on court or on the grounds and how coaching can be delivered. This has been a challenge that the club rose to well, despite our members being unable to play tennis for many weeks in 2020. We are grateful to our members for their continued support during this time.
The club's facilities have continued to be maintained and upgraded, with drainage and landscaping around the 2019 storage/shed build completed and the total replacement of the clubhouse roof. An architect was contracted to design the rebuild for the interior of the clubhouse and the membership approved for the budget for this at an extraordinary meeting called in November 2020. The work will be conducted in 2021.
## **Financial review**
Despite the difficult conditions created by Covid-19 pandemic, Wigmore’s financial position remains strong. Cash reserves at the period end totalled £353,774. There was a drop in income caused by the club’s closure during the year, which led to a reduction in bar income, visitor’s fees and floodlight income. This was partly offset by a rates rebate from Lambeth of £10,000.
It is the policy of the CIO that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to six months' expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the CIO’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the Period.
The trustees have assessed the major risks to which the CIO is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
It is the policy of the CIO that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months ' expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the CIO’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees ha ve assessed the major risks to which the CIO is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **Structure, governance and management**
The CIO is constituted under a document dated 24 March 2019 which can only be amended by resolution agreed in writing by all members of the CIO or by a resolution passed by a 75% majority of votes cast at a general meeting of the members of the CIO. Any amendments must be consistent with the provisions of the Charities Act 2011 or the General Regulations.
The trustees who served during the year and up to the date of signature of the financial statements were: Ms Doris Ko
Mr G Spenger Mr J Quinn Ms L McKerchar Mr P Moon Mr P Thomson-Glover Mr P Duckworth Mr R Rotti Ms S O'Dwyer Mr A Callus
Members are invited to stand as trustees and are re-elected annually. A trustee can serve for a maximum of five years.
The CIO's current policy concerning the payment of trade creditors is to:
- settle the terms of payment with suppliers when agreeing the terms of each transaction;
- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
- pay in accordance with the CIO's contractual and other legal obligations.
The trustees' r eport was approved by the Board of Trustees.
..............................
## **Mr P Thomson-Glover**
Trustee 19 / 04 / 2021 Dated: .........................
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WIGMORE LAWN TENNIS CLUB CIO**
I report to the trustees on my examination of the financial statements of Wigmore Lawn Tennis Club CIO (the CIO) for the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the trustees of the CIO you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the CIO’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements 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 preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 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 financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
- 1 accounting records were not kept in respect of the CIO as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
Matthew Haines FCA
Wadebridge House 16 Wadebridge Square Poundbury Dorchester Dorset DT1 3AQ
Dated: .........................
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**Unrestricted Endowment**
**funds**
**funds**
**2020**
**2020**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
10,103
-
Charitable activities
**4**
122,234
-
Other trading activities
**5**
7,718
-
**Total income and**
**endowments**
140,055
-
**Expenditure on:**
Raising funds
**6**
5,257
-
Charitable activities
**7**
143,500
-
**Total resources**
**expended**
148,757
-
**Net movement in funds**
(8,702)
-
Fund balances at 1
January 2020
401,717
1,380,000
**Fund balances at 31**
**December 2020**
393,015
1,380,000|**Total**Unrestricted Endowment
funds
funds
**2020**
2019
2019
**£**
**£**
**£**
10,103
398,529
1,380,000
122,234
23,524
-
7,718
5,200
-
140,055
427,253
1,380,000
5,257
4,631
-
143,500
20,905
-
148,757
25,536
-
(8,702)
401,717
1,380,000
1,781,717
-
-
1,773,015
401,717
1,380,000|Total
2019
**£**
1,778,529
23,524
5,200|
|---|---|---|
|||1,807,253|
|||4,631|
|||20,905|
|||25,536|
|||1,781,717
-|
|||1,781,717|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2020**_
|**Notes**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Stocks
**12**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**14**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds - general
**16**
**Income funds**
Unrestricted funds|**2020**
**£**
**£**
1,470,143
1,582
1,408
353,774
356,764
(53,892)
302,872
1,773,015
1,380,000
393,015
1,773,015|**2019**
**£**
**£**
1,477,516
500
2,973
356,068
359,541
(55,340)
304,201
1,781,717
1,380,000
401,717
1,781,717|
|---|---|---|
19 / 04 / 2021
The financial statements were approved by the Trustees on .........................
.............................. Mr P Thomson-Glover **Trustee**
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **Charity information**
Wigmore Lawn Tennis Club CIO is a Charitable Incorporated Organisation.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the CIO's constitution, the Charities Act 2011 and "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)". The CIO is a Public Benefit Entity as defined by FRS 102.
The CIO has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the CIO. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
The Trustees have considered the financial position of the Company, both during the period and as a result of the COVID-19 pandemic, and have assessed both financial and operational risk. They are of the opinion that the Company has sufficient financial resources to continue to operate as a going concern for the foreseeable future. Accordingly, the Trustees continue to adopt the going concern basis in the preparation of the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the CIO. The CIO carries an expendable endowment fund of £1.38m which represents the market value of the land transferred to the CIO on 6 November 2019 by Wigmore Lawn Tennis Club, an unincorporated members' club. Whilst the land from which the club operates could be sold, this is only possible with Charity Commission consent and provided that any purchaser continues to use the land for the operation of a tennis club.
## **1.4 Income**
Income is recognised when the CIO is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **(Continued)**
Cash donations are recognised on receipt. Other donations are recognised once the CIO has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the CIO has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Members' subscriptions received in advance are deferred and recognised in the period to which they relate.
## **1.5 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 8 years straight line basis Tennis courts 8 years straight line basis on original cost prior to gift to CIO Plant and equipment 5 years straight line basis Computers 5 years straight line basis
Freehold land is not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
The CIO has adopted the cost model in recognising its property, plant and equipment. Land with a market value of £1.38m and property including Club buildings and tennis courts with a market value of £97,077 were transferred to the CIO on 6 November 2019.
Land was valued by Messrs Tyser Greenwood, Chartered Surveyors. Club buildings and courts were valued by the CIO's Trustees with reference to their previous carrying value in the accounts of Wigmore Lawn Tennis Club.
## **1.6 Impairment of fixed assets**
At each reporting end date, the CIO reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.7 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **(Continued)**
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The CIO has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the CIO's balance sheet when the CIO becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the CIO’s contractual obligations expire or are discharged or cancelled.
## **2 Critical accounting estimates and judgements**
In the application of the CIO’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 recognised 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.
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **3 Donations and legacies**
|**Unrestricted**Unrestricted Endowment
**funds**
funds
funds
general
**2020**
2019
2019
**£**
£
£
Donations and gifts
103
398,529
1,380,000
Government grants
10,000
-
-
10,103
398,529
1,380,000|Total
2019
£
1,778,529
-|
|---|---|
||1,778,529|
## **4 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**Income**|**Income**|
||**2020**|**2019**|
||**£**|**£**|
|Floodlight income|2,683|125|
|Membership subscriptions|119,551|21,474|
|Share of coaching programme|-|1,925|
||122,234|23,524|
## **5 Other trading activities**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2020**|2019|
||**£**|£|
|Bar income|7,718|5,200|
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**6**
**7**|**Raising funds**
**Unrestricted**Unrestricted
**funds**
funds
**2020**
2019
**£**
£
Trading costs
Bar costs
5,257
4,631
5,257
4,631
**Charitable activities**
**Expenses**
**Expenses**
**2020**
**2019**
**£**
**£**
Depreciation and impairment
21,525
1,026
Administration costs
9,501
944
Court and grounds maintenance
16,589
5,768
Light and heat
5,411
1,587
Printing, postage and stationery
296
624
General repairs and maintenance
77,867
606
Cost of social events
794
387
Bank and card machine charges
2,483
20
Website costs
1,503
686
Telephone and internet
770
183
Tournament and match expenses
624
80
Subscriptions and levies
1,863
880
Insurance
1,914
-
141,140
12,791
Share of governance costs (see note 8)
2,360
8,114
143,500
20,905|**Raising funds**
**Unrestricted**Unrestricted
**funds**
funds
**2020**
2019
**£**
£
Trading costs
Bar costs
5,257
4,631
5,257
4,631
**Charitable activities**
**Expenses**
**Expenses**
**2020**
**2019**
**£**
**£**
Depreciation and impairment
21,525
1,026
Administration costs
9,501
944
Court and grounds maintenance
16,589
5,768
Light and heat
5,411
1,587
Printing, postage and stationery
296
624
General repairs and maintenance
77,867
606
Cost of social events
794
387
Bank and card machine charges
2,483
20
Website costs
1,503
686
Telephone and internet
770
183
Tournament and match expenses
624
80
Subscriptions and levies
1,863
880
Insurance
1,914
-
141,140
12,791
Share of governance costs (see note 8)
2,360
8,114
143,500
20,905|
|---|---|---|
|||12,791
8,114|
|||20,905|
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**8**
**Governance costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy and
Independent
Examination
-
1,440
Legal and professional
-
920
-
2,360
Analysed between
Charitable activities
-
2,360|**2020**
Support
costs
Governance
costs
**£**
£
£
1,440
-
1,200
920
-
6,914
2,360
-
8,114
2,360
-
8,114|2019
£
-
-|
|---|---|---|
|||-|
|||8,114|
## **9 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the CIO during the year.
## **10 Employees**
The average monthly number of employees during the year was:
||**2020**|**2019**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**11**
**Tangible fixed assets**
**Freehold land**
**and buildings**
**£**
**Cost**
At 1 January 2020
1,478,542
Additions
9,958
At 31 December 2020
1,488,500
**Depreciation and impairment**
At 1 January 2020
1,026
Depreciation charged in the year
20,686
At 31 December 2020
21,712
**Carrying amount**
At 31 December 2020
1,466,788
At 31 December 2019
1,477,516
The carrying value of land included in land and buildings comprises:
Freehold
**12**
**Stocks**
Bar stock
**13**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income|**Plant and**
**equipment**
**£**
-
4,035
4,035
-
807
807
3,228
-
|**Computers**
**£**
-
159
159
-
32
32
127
-
**2020**
**£**
1,380,000
**2020**
**£**
1,582
**2020**
**£**
-
1,408
1,408|**Total**
**£**
1,478,542
14,152|
|---|---|---|---|
||||1,492,694|
||||1,026
21,525|
||||22,551|
||||1,470,143|
||||1,477,516|
||||**2019**
**£**
1,380,000|
||||**2019**
**£**
500|
||||**2019**
**£**
1,926
1,047|
||||2,973|
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **14 Creditors: amounts falling due within one year**
|**Notes**
Deferred income
**15**
Accruals and deferred income
**Deferred income**
Arising from membership subscriptions
received in advance|**2020**
**£**
51,780
2,112
53,892
**2020**
**£**
51,780|**2019**
**£**
53,260
2,080|
|---|---|---|
|||55,340|
|||**2019**
**£**
53,260|
## **15 Deferred income**
## **16 Endowment funds**
Endowment funds represent assets which must be held permanently by the CIO. Income arising on the endowment funds can be used in accordance with the objects of the CIO and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
|**Balance at**
**1 January 2020**
**Incoming**
**resources**
**£**
**£**
**Permanent endowments**
Land
1,380,000
-
1,380,000
-
**17**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Endowment**
**funds**
**2020**
**2020**
**£**
**£**
Fund balances at 31
December 2020 are
represented by:
Tangible assets
1,470,143
-
Current assets/
(liabilities)
302,872
-
1,773,015
-|**Movement in funds**
**Resources**
**expended**
**Transfers Revaluations**
**gains and**
**losses**
**Balance at**
**31 December**
**2020**
**£**
**£**
**£**
**£**
-
-
-
1,380,000
-
-
-
1,380,000
**Total**Unrestricted
funds
Endowment
funds
Total
**2020**
2019
2019
2019
**£**
£
£
£
1,470,143
97,516
1,380,000
1,477,516
302,872
304,201
-
304,201
1,773,015
401,717
1,380,000
1,781,717|**Movement in funds**
**Resources**
**expended**
**Transfers Revaluations**
**gains and**
**losses**
**Balance at**
**31 December**
**2020**
**£**
**£**
**£**
**£**
-
-
-
1,380,000
-
-
-
1,380,000
**Total**Unrestricted
funds
Endowment
funds
Total
**2020**
2019
2019
2019
**£**
£
£
£
1,470,143
97,516
1,380,000
1,477,516
302,872
304,201
-
304,201
1,773,015
401,717
1,380,000
1,781,717|
|---|---|---|
|||1,380,000|
|||Total
2019
£
1,477,516
304,201|
|||1,781,717|
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Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada
## **WIGMORE LAWN TENNIS CLUB CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **18 Related party transactions**
During the period there were no related party transactions other than expenses listed below.
Trustee expenses totalling £1,659 in respect of costs incurred on behalf of the CIO were reimbursed during the year.
During the year, Mark Longden ( Member ) was paid £7,787 for his work as Club Manager, Mike Nation (Member) was paid £5,736 for a garden contract, Nick Eastwood (Member) was paid £327 for bar management work, Matthew Kiziltan (Member) was paid £1,004 for bar management work and Doris Ko (Trustee) was paid £63 for bar management work.
- 14 -
Doc ID: 82c7ddd46746b9ace110e890af13584895c38ada