Petworth House Tennis Court Limited Report and Financial Statements Year ended 30 June 2021 Charity number - 1186389 Company number - 06738258
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A14 1710312022 CC*dPANIES HOUSE
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2021 Reference and administrative information Tiustees and Dlrectors The following T'rustees and Directors have served dyrfringthe yea"r: Robert Dolrnan. Chairman Nigel Draffan David Fortune Andrew Falk {resgned l July 2020) Charles Fuente Simon Knight lan McNally Carole Muir Robert Muir Andrew Page John Petersen, Secretary Philip Robinson Iresigned l July 2020) Christopher Swan Julian"Wilkinson Prlndpal Office Estste Yard Park Road Petworth GU28 ODU Charity Number 1186389 Company Nufflber 06738258 Independenl accounting examlner5 SBM Associates knmited, 24 Wandsworth Road, London. SW8 2JW Honorary Soliatr Charles Fuente Banker5 Barclays Bank Plc, Leicester, LeicesteTshire LE87 28B Webslte http://petworthrealtennis.com
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2021 Report of the Dirertots for the year ended 30 June 2021 The Directors present their annual report and financial ststements of the Charity for the year ended 30 June 2021. The financial statements cornply with the Charities Act 2011. the Companies Act 2006, the Memorandum and Articles of Association. and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in attordante with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 20191. Structurei governance and management Petworth House Tennis Court Limited {the"ChariWI was incorporated ¢)n 31 October ZIX18 as a private company limited by guarantee (company number 067382581 and registered as a chartty {charity number 11863891 on 15 Novernber 2019. It is governed by its Memorandum and Articles of Association. companv and charity law. It seeks to undertake its chosen tharitable yrk through the deployment of its existing funds (both income and capital). It has twelve dirertors. who act as trustees of the Charity. The existing directors will appoint new directors where necessary to complement the skilLs available to the board. The Memorandum and Articles of Association require a minimum of two directors, With no ma¥imum number. A5 required by the Memorandurn and Articles of Association, one-third12020- alll of the direetors will retire at the annual general meeting of the Charity held to consider thse accounts.and being eligible, offer themselves ft>r re-election. New directors are provided with information on their responsibilities as dirertors and trustees and are briefed on the areas of actilrity of the Charrty. 'Directors' meetings are held to discuss strategy and poliry. The Chairman and the responsible Directors handle day-ttrday administration. such as membership. fixtures, bookkeeping, finance and general atlministration. All the Directors give their time and no remuneration was paid in the year. None of the Oirectors has claimed any expenses nor are there any related party transactions. except a5 noted in these financial ststements. Objertives and activltles for the publlc benefft The Charity promotes communty Part1PatIon in healthy recreation. in particular by the provision of facilities for the playing of Real Tennis. The Charity also prornotes the conservation. preservation and improveitient for the publi¢ b.enefit as a building of histr>riclnterest thè Real Tennis Court at Petworth and education of the public about the history and heritage of the building. In determining how to achieve these objertives, the Directors have cornplied with their oblgation to have proper regard to the guidaftce on public benefit published by the Charities Commisston in exerctsing their power5 or fulfilling their duties.
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2021 Achlevements and Perfornwnce Petworth House tennis court, one of only 27 in the UL has existed in its present location since 1872 and the present dub has played real tennis in it since 1960. The court is now leased for 99 years from the National Trust. An extension was completed in 2018 to provide better changing facilities with clubroom and kitchen. This will ensure that both the sport of Real Tennis and the architecturalty significant building will be Secured for the long-temi future. The club has a long history as one of the leading Real Tennis clubs in the UK with a strong tradition of playing opportunities for all ages and abilities. all genders and as a breeding ground for UK amateur champion5. The club finds itself in a geographical area characterised by a high proportion of retired residents. It is a friendly and inclusive club that contributes significantly to the physical and mentsl health of its members, many of whom are retired. The club offers all the benefrts of a typicèl tennis or sports club: providing exercise, improvement to health. development of handleye co-ordination and so¢iability. The club prides itseff on providing playing facilities of the highest quality. These facilities are not onlv available for use by local schools and community interest groups but are also able to h05t real tennis events up to national level providing inspiratiorb tr> aspiring champions. The 20201.21 season hit again by two tock(knvns which effecttvdy closed the court for almost slx months. We were able to complete our 2019120 handicap singles tournarnents with the Ma¢lay Penthouse Cup being won by Herevrnrd Taylor lour most improved player). the 5mrth Bingham Trophy by Tom Miller and the CooteDecanter"by James Camegie-Brown. . Sadly. we Nvere uiiable to coach any schwls due to Covid restrKtion5 bul ¢oa¢hing will now be resumed with Seaford College. Westbourne House and hopefully Cottesmore. We also have three new schools that could start coaching in the New Year. Four young members were invited to tske part in The Tennis & Racket5 Associatn academy for the 2020121 season. Toby Barton and Bertie Vallat ts'unior squad) and Max Trueman and Ollie Taylor Isenior squad). During the year the Tennis and Rackets Association launched what 15 known as the Investrnent in Professionals IIIPI Programme to encourage clubs to take on apprentices in the hope of recruiting more young players tr> become professionals. We have been keen to support the initiative. although it remain5 to be seen whether anyone suitsble emerges for us to consider. Our membership decreased to 48212020-4931 due to few new members joining but the club remains in good heart now that we are fully open again. The directors of the Charity are grateful to our professionals for their hard work and to our members for their encouragement and financial sUPPrt They would also like to thank Rathbone Investment Management for thr kind support of junK)r tenni&
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2021 Flnanclal Revlew The net'movement"in"fund5 for the year ended 30 June 2021 iva5 4 surplus of £21.739 {2020- surplus of £16,474). This reflects a decrease in Cbnations and legacies to £92.048 from £109,319 in 2020. This decrease arises primarity from the donatsons in the piior year to support the Charity through te Covid 19 pandemic. During the year small government grants of £18.(X)8 were recerved12020- £10,01. xpenditure on.chaTitable activitie5 decrsed to f 73,217 from"'£93,515 in 2020. The sgnificant decrease arose due to there being no repairs to the court in the current year12020- £25.361). During the prior year the Charity invested £15.000 in accumulation units in the COIF Charities Investment Fund, a listed investment in the United Kingdom. At the 30 June 2021 there was an unrealised gain on the investment of £4.33312020- £1.258)- The Charity has £60,QIJO invested in a 5-year fixed rate business, trust and charitytjond iiiith an'irftère%t ralt of 2.5%." 8a"nk"inTrerest receiwd"b"I"e-artic)uti'tedto'£l,50812020- £9081. Unrestricted funds at 30 June 2021 amounted to £l(X).07312021> £78.334). The prirne risk to the Charity is that funds raised fa+1 to meet liabilities as they fall due. This risk is mitigated as the Directors have prepared and considered expected cash flows such that they are confident that thev will have the funds to meet all liabilities as they fall due. Reserves policy Reserves are needed to bridge the gapbetween the spending and receiving of incomft and to.cover unplanned expenditure. The trustees aim to continue to build up the unrestricted reserves of the Charity as these will reflert cash funds that will enable liabilities to be met as they fall due. Directorf responsibilitie$ in relation to the finarrtial statements The Director5 are responsible foT preparing the frectors' Report and the financial statements in accordance with applicable law and United ngdorn Accounting Stsndard5 (United Kingdorn Generally Accepted Accounting Practice). CoMn¥ law requires the Directors to prepare financial ststements for each financial year. which give 4 true and fair view of the 5tate"iJY'the afftirs of'th-e charitable corhpahy ah"d of the iricorning resource5 and application of resources. including the income and expenditure. of the charitable company for the year. In preparing these financial rtatements, the Directors are required to= select suit4ble aonting policies and appty them ¢on$ent. observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent:
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2021 prepare the financial statements on a 80ing concem basis unless it inappropriate to presume that the FOundatn will continue in operation. The Direttors are responsible for keeping proper accounting records which disclose with reasonable accura at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the ssets of the charitsble company and hence for taking reasonable step5 for the preventi¢)n and detertion of fraud and other irregulartties. The Directors are responsible for the maintenance and integrity of the corporate ènd financ1 infoTmation included on the charitable companTrKs website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other juriSdictn$. Approved by the Directors on 26 September 2021 and signed on their behalf bv: Robert Dolman Chairman
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2021 INDEPENDENT FAAMINER'S REPORT TO THE MEMBERS OF PETWORTH HOUSE TENNIS COURT LIMITED FOR THE YEAR ENDED 30 JUNE 2021 I report to the Charity Trustees on my examination of the financial statements of Petworth House Tennis Court Limited (the Charity) for the year ended 30 June 2021. Responsibilities and basis of report As the Charity Trustees land also its directors for the purposes of company lawl you are responsible for the preparation of the financial slatements in accordance with the requirements of the Companies Act 2OJ6 (the 26 Actl- Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Art and are eligible for independent examination. I report in respect of my examination of the Charity's financial statements carried out under section 145 of the Chartties Act 2011 Ithe 2011 Actl. In carrying out my exarnination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's 5Litement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination Eiving me cause to believe that in any material respect: 11 accounting records were not kept in respect of the Charity as required by section 386 of the 2fJ)6 Art- or 21 the financial statements do not accord with those records- or 31 the financial statements do not comply with the accounting requirement5 of sertion 396 of the 2006 Act other than any requirement that the accounts gNe a true and fair view which 15 not a matter considered as part of an independent examination- or 41 the financial statements have not been prepared in accordance wtth the methods and principles of the Statement of Recommended Practice for accounting and reporting. by charities applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which ttentlon should be drawn in this report in order to enable a" proper Understanding of the financial statements to be reached. .Pauline B McAlpine FCA SBM Associates Limited 24 Wandsworth Road London SW8 2JW 14 December 2021
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2021 STATEMEIU OF FINANCIAL AcnvmES FOR THE YEAR ENDED 30 JUNE 2021 Note Year to 30June 2021 Year to 30June 2020 Income: Donations and legaties Income from charitsble activities Investment incorne- bank interest receNable 92.048 109,319 1,508 908 Total income 93,5 110,227 xpendIre. Expenditure on raising funds Expenditure on charitable artivities: Interest payable and similar charges 73,217 1,675 93,515 1,496 Totsl expendlture 74,892 95,011 Net kncome 15.216 Net galn$ M Investments 3.075 1258 Net Movement In Funds 21.739 16,474 Unrestricted Funds brought forvrard at l July 2020 78,334 61,860 Unr¢s.trlct¢d. Funds carrfed fcffward at 30june 21Y21 The above results are derwed from continuire artivities and relate to the unrestricted income fund. There were no other recognised gains or losses other than those ststed above.
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2021 Company Number- 06738258 BALANCE SHEAT30 JUNE 2021 2021 2021 Unrestricted Restrlcted Funds Funds 2021 Totsl Funds 2020 Totsl Funds Flxed ossets Tangible assets Heritage assets Investments Total flxed assets 218.949 101.151 320,IIJO 335,942 80,837 299,786 80,837 400,937 76,258 412,200 101.151 Current (wets Debtors Cash at bank and in hand io 2.363 53.973 56,336 2,363 53,973 56,336 8,982 27,5CKI 36,482 Totsl cuTient assets Lloblllties Creditors. amounts falling due within one vear li (116,0491 (59,713) 1116,0491 159,713) (108,0131 {71,531) Net current Ilabmltles Total assets less current Ilabllltles 240,073 101,151 341,224 340,669 12 (uo,(w) I140.) IIWOCM)) P4et a55ets 100,073 lo1.1 201224 190.669 Thefvnds of the Clwrfty." Unrestricted income fund 13 I,073 ICKJ.fJ73 101.151 101.151 IOL151 201.224 78.334 112,335 190,669 Restricted fund Totsl Charlty funds 13 I.073
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2021 For the year ending 30 June 2020 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2(K)6. The'members have not rÈquired the.Charity tod)tsin an auditijf its accounts for the period in questn.1 accordance with section 476 of the Compan$ kt 2(X)6 The dirertor5 acknowledge their responsibilities for al ensuriw that the charitable company keeps accounting records that cornply vth Sections 386 and 387 of the Companies Act 2006.. and bl preparing financial 5taternents which give a true and fair view of the state of affairs of the charitable company as at .the end of each financial year and of its surplus or defKit for each financial year in accordance with the requirernents of Sections 394 and 395 and which othenvise e(>mply with the requirements of the Companies Art 2006 relating to financial staterne1. so far as applKable to the charitsble companv These financial statements have been prepafed in accordance with the special provistons of Part 1.5 oythe Companies Act 2006 relating to srnall charitable cornpanies. Approved by the Direetaws on 26 September 2021 and signed on their behaff by: ulian Wilkinson io
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2021 NOTES TO THE AccouTrirs l. Accounting Policies Petworth House Tennis Court Limited is a private company lirnited by guarantee incorporated in England and Wales. The registered office is Estste Yard, Park Road. Petworth. GU28 ODU. lal Basis of preparation The financial statements have been prepared in acrdaryCe v4ith the charitys Articles of Association, the Companies Act 2006 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'lreland IFRS 1021 (effective l January 20191" 'The charity is a'Public Benefit Entity as defined by FRS 102. The Charity has taken advantsge of the provisions in the SORP for charities applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The financwl staternents are prepared in sterling. which the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial ststements have been prepared under the historical cost convention. {bl Funds structure The Company has a restricted fvnd and an unrestricted incorne fund. The Directors may. at their discretion. allocate any part of the unrestricted income fund to the purposes of the Charitv. Icl Income recognition policies Items of income are recognised once the Charity becomes legalty entitled to the income. it is probable that the income will be received. any perfomiance condrtions have been met or ère fully within the control of the CharÉty and the amount can be measured relbly. Membership subscriptions and Sp150r5h1p5 are included 35 IrKome from donations as these are. in substance, donations rather than.payrnent for goods or services. Gift Aid is specrfically related to thè original donation. Idl Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing. the Charity to the expenditure. itis probable that settlementwill be required and the amount of the obligation can be measured reliably. li
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2021 NOTES TO THE ACCOUNTS {Continued) lel Tangible Assets T.angible assets are f£cognised on the balance sheet at cosL Depreciationis proyided so as to wfite off the cost of the asset over its useful economic life which for leasehold improvements is estimated at fifty years and for furniture and equipment 15 estimated at 5 years. lfj Heritage Assets Heritsge assets are not recognised on the balance sheet as information on their cost or valuation is not available and such information cannot be obtained at a ¢t commensurate with the benefit to the users of the financial ststements. tgl Investments Investments in shares. which can be publicly traded, are measured at fair value (market value). Movements in market value are Shown as unrealised gaInsoSseS in the Statement of Financial Activitie5. Cash and cash equivalents are recognised at amortised cost. Ihl GovernmentGrants Governrnent and other grants had pfewousty been recognised using the attrual rnodel option {section 24 of FR51021 that is not permitted by the Charities SORP. The grants for the extension that were received in the yea.r ended 30 June 2018 and earlier are now recognised in income in the Restricted Fund on a systematic basis over the experted useful life of the assets.1See note 131 lil Concessionary Loans Concessionary loans are loan5 recerved by the Charity to further its purposes and the interest charged is below the prevailing market fates. Concessionary loans are measured at the amount received with the carrying amount adjusted in subsequent ¥eatS to reflect iepayrtterts_ 2. Going Concern The Oirector5 hav¢ made a positive assessmoTht of the Cbarits45 ability to corjtinue as a going concem..In assessing whether the going concern assumption is appropriate the directors have considered all available informats.on about the future andspecifjcally whether future incomireSoUrceS will generatesufficient funds to enable all existing liabilities to be settled as they fall due. 3 Related Party transartions and Dirertor< remuneration The Directors received no ernoluments and reclairned no expense5 during the year12020- nill. Three directors provided Conce kAnsto the Charty rf8re8atinito UQQJO12020-£3QOI)01. 12
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2021 NOTES TO THE ACCOUNTS ICMtinued) 4 Donations and legacies Note 2021 2020 Membership subscriptions Donations Sponsorship Small business governrnent grants Sundry 73.540 500 65,208 30.909 18.LW)8 10.000 202 92,048 109,319 5 Expenditure on charitable artivities Éxpenditure in pursuit of the Char5 objects- 2021 2020 Rent Repairs to Court Closed Courts Equipment and maintenance Light, heat and water Youth development Competitions and toumaments Depreciation of leasehold improvements Stamp duty land tax Cleaning and waste disposal Support and governance costs 11.000 25.361 22,724 5,868 13,160 432 32.805 1.342 8.528 1.462 769 4,658 4,658 3.299 6,123 73,217 3,499 93,515 6 :Support and 8o¥ernance costs 2021 2020 Independent examinerfs remuneration n5urance 560 1566 2.106 1.698 193 1.418 I17 1,622 187 Telephone and intemet Printing, stationery and other costs Sundrv 6.123 13
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2021 NOTES TO THE Accoupifs (Continued) 7 Tangible fixed Assets Furnlture & Equipment Leaseho 1mpr¢Y4emts Total At l Juty 2020 and 30June 2021 47.167 320,459 367,626 Depredatlon At l Juty 2020 Charge for year At 30'June 2021 18,866 9.434 12,818 6.408 31,684 15,842 28.3(Kl 19,226 47,526 Net bookvalue at 30June 2020 28.301 18.867 307.631 301.233 335,942 320,100 Net IM)ok value at 30 June 2021 The allocation of the depreciation charge between funiis is: Unrestricted Fund- Restricted Fund - £4.658 £11,ts4 8 Herfta8e Assets The Charity holds a number of heritage assets that have been acquired by donation in prior year5. These include- Real tennis rackets of historical interest and other real tenni5 menK>rabilia: Pictures, prints and photographs: A bas-relief "A History of Tennis at Petworth. by Philip Jackson. The directors consider that the cost of valuation of the collection is likely to exceed the benefits provided by the inforrnation and as such no value recognised in these financial statements. 14
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2021 NOTES TO THE ACCOUNTS (Continued) 9. Investments Listed investment assets In U.L 2021 2020 Market value at ljufy Addrtions to investments at cost Unrealised gain on revaluation Market value at 30June 16,258 15.000 1,258 16.258 3,075 19.333 Cash and cash equi¥alents At l July Addition5 to investments at cost Realised interest At30June 60.(h)O 60,OCKJ 1,504 6L504 60,0 Total at 30 June 80,837 76.258 Cash and cash equivBlents represent a &year fixed rate business. trust and charity bond with an interest rate of 2.5%. 10. Debtors 2021 2020 Other debtors Prepayments and accrued income 6,684 2,298 8,982 2,363 2.363 11. Creditors. amounts falling due within one year 2021 2020 other creditor5 Accruals and deferred income Concessionary loan payable 2,892 3.157 7,090 IiO,LX loo,000 116,049 108,013 A concessionary loan payable of £ILKI.(XX) is repayable rfthe lender gives one month's notice requiring repayment. This concessionary loan is unsecured an(tinterest is payable at 1% per annum. A Concessionary loan payable of £IO.CKK) is unsecuied and interest free. 923
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2021 NOTES TO THE ACCOUPITS (Continued) 12. Credltors. amounts fa"Ilin8 due after more than one ¥ear 2021 2020 Concesslonary loans payable Within two and five years Within five and ten years 10,000 140,CM)O 140,000 140,(KK) 150,000 The concessionary loan5 comprise fourteen ten-year loans. All the loans are unsecured and interest free. 13. Analysts of funds 2021 2021 2020 2020 Restrirted Fund Unrestrirted incomefund Restricted Fund Unrestricted income fund Fund brought forward at l July 78.334 61.860 Add: Income 93.556 110,227 Less: Expenditure 174,8921 {95,011) AddlLess.' Gains and losses 3.075 1,258 Fund caNled forvAnl-at 30June lo1.1 lQ),073 112,335 78,334 Restricted funds brought forward at l July 2019 have been festated as disclosed In Th)te l{hl. 112.335 123,519 (11.184) 111.184) 14. Legal ststus The Charf(y is a cornpany limited byguarantee. The liabilrty of each member in the event of a winding up is limited to £1. 16