**Charity registration number 1185220**
## **SUTTON TENNIS & SQUASH CLUB**
## **CONSOLIDATED ANNUAL REPORT**
**AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
1
## **SUTTON TENNIS & SQUASH CLUB**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** P M Ward A Jennings T J Davies S M Lewis J Jones-Smythe **Charity Number** 1185220 **Registered Office** 19 Devonshire Road Sutton Surrey SM2 5HH **Independent examiner** Hybrid Premium Limited Chartered Certified Accountants 110 Newbury Gardens Epsom KT19 0PD
2
## **SUTTON TENNIS & SQUASH CLUB CIO**
## **CONTENTS**
||Page|
|---|---|
|**Trustee’s report**|4 – 5|
|**Statement of Trustees’ responsibilities**|6|
|**Independent Examiner’s report**|7|
|**Statement of Profit and Loss**|8|
|**Balance Sheet**|9|
|**Notes to the financial statements**|10 – 15|
3
## **SUTTON TENNIS & SQUASH CLUB**
# **TRUSTEES’ REPORT ON CONSOLIDATED ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
The Trustees present their annual report and financial statements for the year ended 31 March 2024 on the consolidated accounts and activities of the Club.
## **Objectives and Charitable Activities**
The promotion of community participation in healthy recreation in particular, by the provision of facilities for the playing of racquet sports including tennis, squash and racketball.
The Inclusivity Manager role continued to have primary responsibility for overseeing delivery of all programmes, which are for the benefit of non-core members. These courses are delivered at a discount to our full membership rates. This allows STSC to provide access to a section of the public who would otherwise be unable to access facilities at the club either for financial and / or disability reasons.
All Trustees are aware of the guidance issued by The Charity Commission with regard to Public Benefit and adhered to the guidance throughout the year.
During the period, we have continued to look to expand the footprint of users of the club to all abilities and age groups.
With 17 school / college relationships, the mix of schools covers the full spectrum of academic and physical abilities from grammar schools to others with a high concentration of SEN students, ensuring we make the facilities available across the whole community.
For adults, we continue to deliver programmes for the able and less able bodied, such as disability, walking, mental health and well-being programmes.
The planning and scheduling of these programmes allows us to fill court usage during weekdays and early evenings which tend to be off peak periods for our core membership.
To deliver on our policy to make facilities available to the full cross section of abilities in our community, requires us to continue to make a financial contribution into our Inclusivity Programmes, which we remain committed to.
Surplus funds generated each year from our members are being invested back into the fabric of the club to maintain facilities and increase our court space capacity.
We have a strong ethic of encouraging our members to be contributors of their time as volunteers, alongside being active playing members of the club. This includes all our Trustees, Management Committee members and event organisers.
## **Structure, governance and management**
During the year, the number of Trustees was increased to 5, inviting Steve Lewis to be a Trustee (approved at the last AGM). Steve Lewis is also Chair of the Management Committee, who undertake day to day management of the club facilities.
4
Of the 5 Trustees, 2 currently serve on the Management Committee. This provides a balance between independent oversight of the Management Committee, alongside continuity with the Management Committee.
The Management Committee meets formally on a regular basis, usually every month. The Trustees are kept briefed throughout the year on all relevant matters and through reserved powers have control over the Management Committee contracting and expenditure decisions above an agreed delegated threshold.
Specifically we have the charity entity and a wholly owned trading subsidiary, STSC Trading Ltd, through which relevant transactions occur.
Policies and the Risk Register are reviewed on a regular basis to ensure they remain current. These are maintained “on line” for Trustees to review at any time and formally circulated to Trustees periodically.
## **Finances**
The major financial event of 2023-24 was the sale of the future rental income from the telephone mast for which the Club received £115,000. In addition, the Club received a grant of £18,110 from the National Lottery fund for the provision of racketball to the Over 65s over the next two years. These sessions began in May 2024 and, to date, have been very successful with all the sessions being fully subscribed.
The British Tour event was run again in August 2023 and with the help of sponsorship from Boudicea and others made a healthy surplus.
However, the trading operations providing drinks and food was not as profitable as had been hoped. Following a review of its performance a number of changes were instigated and its profitability in the calendar year 2024 has improved significantly.
Membership income has been maintained with the club having over 800 members as at 31 March 2024.
## **Improvements**
During the second half of the year and the start of the current year a significant number of improvements to the structure and playing facilities of the Club have been made. Tennis Courts 4-6 were re-laid with the successful porous acrylic surface, new glass doors were fitted to the squash courts and Court 1 was replastered, provision was begun to have the tennis floodlights upgraded to LED and many modest but important refurbishment works around the Club, the grounds and the buildings and has continued throughout the summer. The proceeds from the sale of the mast has been put to good use improving the Club and we are working hard to continue to do so.
1
5
## **SUTTON TENNIS & SQUASH CLUB**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024**
The trustees, for the purpose of charity law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently.
- observe the methods and principles in the Charities SORP.
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
During the year a comprehensive examination of the financial records of the Company revealed certain weaknesses in the management of cash handling procedures. These deficiencies allowed for the payment of various Club services in cash without the requisite supporting documentation. Furthermore, it resulted in a lack of proper reconciliation of cash received through the bar.
Upon recognising these shortcomings, prompt measures were taken to enhance the financial controls. Specifically, we have implemented a policy that limits cash payments for services received, except in exceptional circumstances that are carefully documented and strictly controlled. Additionally, a thorough reconciliation of all cash receipts is undertaken daily and independently checked in order to strengthen the control of cash taken over the bar. These actions were taken to strengthen the financial oversight and safeguard the organisation's assets.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with those required by the Charity Commission. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
These accounts were presented and approved at the AGM of the Club.
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# **CHARTERED CERTIFIED ACCOUNTANTS’ REPORT**
# **TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED CONSOLIDATED ACCOUNTS OF:**
# **SUTTON TENNIS AND SQUASH CLUB CIO**
## **FOR THE YEAR ENDED 31 MARCH 2024**
I report to the trustees on my examination of the consolidated accounts of the above charity ('the Trust") for the year ended 31/03/2024.
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 Trust's accounts carried out under section 145 of the 2011 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.
I am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination other than that disclosed below which gives me cause to believe that in, any material respect:
the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records; or the accounts did 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.
Jonne Rowland ACCA 27[th] January 2025 Hybrid Premium Ltd 110 Newbury Gardens Epsom KT19 OPD
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## **SUTTON TENNIS & SQUASH CLUB CIO**
## **CONSOLIDATED STATEMENT OF PROFIT AND LOSS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
|**CONSOLIDATED PROFIT AND LOSS**
**For the year ended 31st March:**||||
|---|---|---|---|
||**2024**|**2024**
**2023**|**2023**|
|**INCOME:**
**NOTE**
Membership Subscriptions
Donations and Grants (including Gift Aid)
Tennis and Squash Court booking and guest fees
**3**
Net loss from bar, catering and social activities
**4**
Other Income including Bristish Tour less expenses
**5**
**TOTAL INCOME (net of trading expenses):**
**EXPENSES:**|**£**|**£**
**£**
109,504
5,960
23,580
1,966
-
22,261
159,338|**£**
107,147
29,130
24,832
16,661
-
25,678|
||||170,126|
|Maintenance of Courts, Buildings and Grounds
**7**|74,494|60,219||
|Light and Heat
Tennis and squash related expenses
Administration, professional and other expenses
**8**
**TOTAL EXPENSES**|25,508
24,451
34,051|21,673
35,763
40,159
158,505|157,814|
|||||
|**NET INCOME BEFORE DEPRECIATION**
**9**||833|12,312|
|Depreciation of fixed assets for year
**NET LOSS AFTER DEPRECIATION**
**EXTRAORDINARY ITEMS**||20,092
19,259
-|20,560|
||||8,248
-|
|Sale of future income from lease of telephone
mast less associated legal expenses|91,237|-||
|TOTAL INCOME/LOSS AFTER EXTRORDINARY ITEMS:
RETAINED EARNINGS BROUGHT FORWARD:
RETAINED EARNINGS carried FORWARD:
Lottery Grant received in respect of running over
65s Racketball programme over the next two years
O
C
S
C
S
S (
C
LOTTERY GRANT) CARRIED FORWARD|18,110|-
109,347
90,088
21,602
111,690
18,110|-|
|||||
||||8,248
-
29,850|
||||21,602|
||||-|
|OF WHICH UNRESTRICTED RESERVES||93,580|21,602|
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## **SUTTON TENNIS & SQUASH CLUB CIO**
## **CONSOLIDATED BALANCE SHEET**
## **AS AT 31 MARCH 2024**
## **_________________________________________________________**
|**Note**|**2024**|**2024**|**2023**
**2023**|
|---|---|---|---|
|**FIXED ASSETS (less depreciation):**
Builings and Courts
**12**
Fitures and Fittings
**12**
**Total Fixed Assets (less Deprciation)**
**Investments**
**13**
**Current Assets**
Cash at Bank and in hand
Bar and Catering Stock
Debtors
**14**
Prepayments
**Current Liabilities**
Accounts payable
**15**
Income in advance
Loan payable in under one year
**Net Current Assets**
Loans falling due after one year
**16**
**NET ASSETS as at 31 March 2024**
**RESERVES:**
**17**
Capital Fund
Development Fund
Retained Earnings
Restricted Funds
**TOTAL RESERVES as at 31 March 2024**|**£**
111,133
6,483
4,816
2,842|**£**
95,849
17,761
113,610
1,300
100,997
7,564
208,343
83,328
13,325
93,580
18,110
208,343|**£**
**£**
67,484
16,628
84,112
1,300
58,647
8,349
-
1,700
68,696
11,407
7,882
4,000
23,288
45,407
12,564
118,255
83,328
13,325
21,602
-
118,255|
||125,275
19,244
1,034
4,000|||
||24,278|||
The financial statements were approved by the Trustees 22 January 2025. P M Ward Chair of Trustees
9
## **SUTTON TENNIS & SQUASH CLUB CIO**
## **NOTES TO THE CONSOLIDATED ACCOUNTS**
## **AS AT 31 MARCH 2024**
## **_________________________________________________________**
## **1 ACCOUNTING POLICIES:**
## **1 Statutory Information**
Sutton Tennis and Squash Club CIO is a Charity constituted as a Charitable Incorporated Organisation, registered as a charity in England and Wales, charity registration number 1185220 . The registered office is 19, Devonshire Road, Sutton Surrey SM2 5HH, United Kingdom.
## **Basis of preparation of accounts**
For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies ACT 2006.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime.
## **2 Accounting Policies**
## **2.1 Accounting convention**
The financial statements have been prepared in accordance with the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 Trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the CIO. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **2.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements
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.
## **SUTTON TENNIS & SQUASH CLUB CIO**
## **NOTES TO THE CONSOLIDATED ACCOUNTS (CONTINUED) AS AT 31 MARCH 2024**
## **2.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives
.
## **2.4 Restricted Funds**
Restricted funds are only available for use by the CIO to the purpose for which they were granted to the CIO.
## **2.5 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.
Cash donations are recognised on receipt. Other donations are recognised once the Trust 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.
## **2.6 Membership subscriptions**
Membership subscriptions are accounted for as income when they are received. The majority of subscriptions are paid monthly although some are paid for annual membership.
## **2.7 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
## **2.8 Fixed asset - depreciation**
Depreciation is provided over the expected useful life of the assets which is generally ten years apart from some bar and other fixtures where the life is five years.
11
## **SUTTON TENNIS & SQUASH CLUB CIO**
## **NOTES TO THE CONSOLIDATED ACCOUNTS (CONTINUED) AS AT 31 MARCH 2024**
## **2.9 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.
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.
## **2.10 Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
|**3**
**Gross Income**
Income from memberships
Donations (including gift aid)
Tennis Court and Floodlight fees
Squash Court fees
Bar and Catering Takings
Social event income
Rental Income
Other income
Interest income
4
**Trading Results :**
Bar and Catering Takings
Bar and Food Purchases
Wages
Net loss on bar and catering
Goss Income
Expenses (including Centenary dinner)
Net profit on social events
Bristish Tour sponsorship, entry fees and
other income|**2024**
£
17,774
5,806|**Unrestricted**
**Funds**
**Unrestricted**
**Funds**
**2024**
**2023**
**2023**
£
£
£
109,504
107,147
5,960
29,130
19,407
23,580
5,425
24,832
136,299
117,517
28,728
12,047
15,317
28,873
-
39,638
5
44,195
343,709
334,867
**2024**
**2023**
**2023**
**£**
**£**
117,517
74,502
69,937
16,521
-
26,922
-
12,047
1,785
14,555
10,261|
|---|---|---|
||8,169
28,769
2,477
223||
||**2024**
136,299
77,248
75,573||
||28,728
14,173||
||||
|||1,966
-
16,661
-|
12
## **SUTTON TENNIS & SQUASH CLUB CIO**
## **NOTES TO THE CONSOLIDATED ACCOUNTS (CONTINUED)**
## **AS AT 31 MARCH 2024**
|**AS AT 31 MARCH**|**2024**|||
|---|---|---|---|
|**5**
**British Tour**|**2024**
**£**||**2023**
**£**|
|Sponsorhip, Entry Fees and other income
Expenses of British Tour|39,638
17,377||44,195
18,517|
|||||
|**6**
**Charitable Activities**
Inclusiveness Training
Less; Grants received
Net cost of Inclusiveness
**7**
**Maintenance Costs**
Buildings
Grounds
Tennis Courts
Squash Courts
Cleaning
Flat
**8**
**Administrative, Proffessioanl and other expenses**
Telephone and internet
Bank charges
Software and IT
Accounting, and bookeeping
Other legal and Professional
Hire of plant and machinery
Insurance
Rates etc
Sundry Expenses
**TOTAL**
**9**
**Depreciation**
The operating profit is stated after charging:
Depreciation of owned assets
**10**
**Taxation**|22,261
**2024**
**£**
7,223
1,150
6,073
**2024**
**£**
26,885
13,238
16,727
842
16,622
180
74,494
**2024**
**£**
4,094
631
7,340
4,277
2,977
4,208
2,941
3,320
4,263
34,051
**2024**
**£**
20,092||25,678|
||||**2023**
**£**
6,243
600|
||||5,643|
||||**2023**
**£**
17,271
8,981
11,538
1,041
18,319
3,068|
||||60,219|
||||**2023**
**£**
3,811
497
5,987
8,831
3,306
3,975
2,134
4,008
7,610|
||||40,159|
||||**2023**
**£**
20,560|
|||||
No liability to UK corporation tax arose on the activities of the charity for the year ended 31st March 2023 nor for the year ended 31st March 2022.
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## **SUTTON TENNIS & SQUASH CLUB CIO**
## **NOTES TO THE CONSOLIDATED ACCOUNTS (CONTINUED)**
## **AS AT 31 MARCH 2024**
|**11**
**Employees**
The average monthly number of employees
during the year
**12**
**Tangible Fixed Assets**
**COST:**
At 1st April 2023
Additions
Assets written off (fully depreciated)
Disposals
At 31 March 2024
**DEPRECIATION:**
At 1st April 2023
Depreciation of Assets fully written off
Charge for the year:
As at 31st March 2024
**NET BOOK VALUE:**
As at 31st March 2024
As at 31st March 2023
**13**
**Investment**
**14**
**Debtors;**
Amount falling due within one year:
Doantion proposed from Devonshire Social Club
Debtors
**15**
**Creditors:**
Accurals and Accounts Payable
PAYE/NI and VAT
Cost of land on which Club is located including the
buyout of long term lease.|**2024**
**2023**
**Number**
**Number**
6
6
**Courts and Buildings**
**Fixtures and fittin**
**£**
**£**
167,698
43,374
45,540
4,050
-
-
-
-
213,238
47,424
100,214
26,746
-
17,175
2,917
117,389
29,663
95,849
17,761
67,484
16,628
**2024**
**2023**
**£**
**£**
1300
1,300
**2024**
**2023**
**£**
**£**
3,000
1,816
-
4,816
-
**2024**
**2023**
**£**
**£**
15,903
8,461
3,340
2,946
19,244
11,407|
|---|---|
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## **SUTTON TENNIS & SQUASH CLUB CIO**
## **NOTES TO THE CONSOLIDATED ACCOUNTS (CONTINUED)**
## **AS AT 31 MARCH 2024**
|**16**
**17**|**Creditors over one year:**
Amounts falling due after more than one year
**Total Creditors: amounts falling due after more than one**
**Capital and Reserves**
Capital Fund
Current Year Earnings
Development Fund
Retained Earnings
Restricted Reserves (O'65s Racketball Grant
**Total Capital and Reserves**
> 1 year - LTA Loan (Artificial Clay Courts) Rec'd Jan
2016
> 1 year - Tennis Surrey Loan (Top Terrace: Rec'd
March 2017)|**2024**
**2023**
**£**
**£**
4,564
5,564
3,000
7,000
7,564
12,564
**2024**
**2023**
**£**
**£**
83,328
83,328
71,978
8,248
-
13,325
13,325
21,602
29,850
18,110
208,343
118,255|
|---|---|---|
## **18 Related Party Transactions**
The previous Treasurer, who was also a Trustee, received a modest honorarium for carrying out bookkeeping and financial oversight.
15