Petworth House Tennis Court Limited Report and Financial Statements Year ended 30 June 2022 Charity number- 1186389 Company number- 06738258 ABYSIGM8' 07103r2023 COMPANIES HOUSE A12 141
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2022 Reference and administratl¥e Infom Trustees and Dlrectors The followng Trustees and Directors have served during the year: Robert Lk)Iman. Chairman Nigel Draffan David Fortune Chartes Fuente Tim James lappointed 12 December 2021) Simon Knight lan McNal Carole Muir {resigned 12 December 20211 Robert Muiw Andrew Page John Petersen. Secretary Christopher Swan Julian Wilkinson Principal Offi Estate Yard Park Road Petworth GU28 ODU Charbty Number 1186389 Company Number 06738258 Independent examine SBM Associates limited, 24 Wandsworth Road. London. SW8 2JW Honorary Soliot Charle5 Fuente Bankers Barclays Bank Pk. LeicesteT. LeKestershire LE87 288 Website http://petworthrealtennis.com
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2022 Report of the Directors for the year ended 30June 2022 The Directors present their annual Teportand financial statements of the Charityfor the yeai ended 30 June 2022. The financial statements compty with the Charitie5 Art 2011. the Companies Art 2006, the Memorandum and Articles of A$¢latiOn, and AccountiNd and RepC*t1X by Charities: Statement of Recommended Prarti¢e applicable to chariiies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effective l January 20191. Strnrture• governance and management Petworth HouseTennis Court Limited Ithe"Charirf) was incorporated on 31 October 21))8 as a private compami limited by guarantee (company number067382581 and Tegistered as a charity (Charity number 11863891 on 15 November 2019. It is governed by its Memorandum and Articles of AssrKiation. companv and charity law. It seeks to undertake rts chosen charitsble through the deployment of its existing funds (both income and capitall. It has tsyelve directors. vtho act as trustees of the Charrty. The existing dirertors will appoint fiew dirertor5 where necessary to complement the skills available to the board. The Mernorandurn and ArtKles of Association require a minimum of two directors, with no maximum number. As requirèd by the Memorandum and Articles of As%xiation. one-third of the directors will retire at the annual generdl meetine of the Charity held to consider these accounts and being elBible, offer themselves for rtrde¢tion. New directors are provided with inforMatn on their resPSIbIrrt1es as directors and tfustees and are briefed on the area5 of adiwty of the Chaiity. Directors, meetings are held to di5CUSS Strateev and poficy. The Chairman and the responsible Dirertors handle day-tTrday administratK>n. such as membership. fixtures. bookkeepin& finance and general administration. All the Directors give their time and no remuneration was paid in the year. None of the Directors has claimed any expenses now are there any related party transactions. except as noted in these financial statements. Obiertives and activities for the publk benefft The Charity promotes community participatw)ti in healthy recreation. in partKular by the pr¢)vision of facilities for the plaiing of Real Tennis. The Charityalso promote5 the Conservation, preservation and improvement for the publit benefit as a buildin8 of histori¢ interest the Real Tennis Court at Petworth and education of the public about the history and heritage of the buildin& In determining how to achieve these objectives. the Directors uxnplied with theirobligatlon to have proper regaTd to the guidance on public benefit pUblhed by the Charities Cornrnission in exercisingtheir pL¥erS or fulfilling their duties.
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2022 Achievements and Perfomiance Peorth House tennis tourt. one of onty 27 in the UL has existed in its present location since 1872 and the present club has played real tennis in it since 1960. The court 15 now leased for 99 years from the National Trust. An extension wa5 completed in 2018 to wovide better changing facilities with clubroom and kitchen. This will ensure that both the sport of Real Tenn15 and the architecturally significant building will be secured for the I0-terM future. The club has a long history as one of the leading Real Tennis clubs in the UK with a strong tradition of playing opportunityes for all ages and abimies. all genders and as a breeding gfound fof UK amateur champions. The club fthds itself in a geographKal area thararterised by a high proportion of fetired residents. It is a friendly and inclusive club that contributes sign-fficantlv to the physical and mental health of its members, rnany of vthom are retired. The dub offers all the benefits of a typical tennis or sports club: providing exercise. irnprovernent to health. development of handleye COdination and sociability. The club prides itself on providing playing facilities of the highest quality. These facilities are not only available for use by kncal SCIlS and community interest groups but are also able to It real tennis event5 up to national level providing inSPiTation to aspiring champions. After two rnainly fallow years the dub VAS delighted. and relieved. to be back to busine55 a5 Usual for the 202V22 season. The court usage has signrficaTrtty returned to nornial throuehout the year and many enjoyable friendty rnatche5 were played both horne and away. The tlub remains keen to encowage these matches which the chance for members of different stsndar(ts tt> visit other clubs and meet and entertain their members. On the Competitive front. our Pol Rer team overcame Seacourt 3-2 at home in an exciting contest but then succumbedto RTC in the semi-final. Encouraginglywe have a youry team.with Freddie 8ristowe playing and the oldest team member being Nick Harris at age 41. this bodes wel for the future. Apart from the pros playing well in Division l of the National League. the dub fielded three other National League teams (Division 5. 7 and 9) with our Division 9 heroes (captained byAdrian Waiburton with vartously StuartAllison. Fergusjenkins. GeorgeAndrews and Simon Annstrongl beats'ngthecombined team of Hatfield and MURTC in a closely contested final. In the various club toumaments. luke Danby and Adam i)olman resumed the next instalment of their long running club tournament finals with Luke triumphing in three tlose sets. reversing the result when thev played in the Pol Roger matth. In the other grades. the B sectM)n T*AS won by Hereward Tayl¢X, the C sertion by Phillip Nash. the D section by Hamish Porter and the E section byThomas Prince. The club doubles (named the Ellis Rich Trophy) VK)n by Adam t)olman and Nick Harris and the Robinson Trophy by Jon Petersen and rirn Armstrong. In the club handap 5ingle5 tournaments. the Penthouse Cup saw Gu5 James beat Tom Compton and the Smith Bingharn Trophy was Min by Dik van Lornwel beat Henry Russell. The club hold two handicap doubles weekends during the sea50n. with the Hennell Plate beiThd byJarne5 Delliere and Torn Miller and the Secretsry's Cup beiry wcm by James and Ali Williams.
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2022 The junior section of the club continues to Ilourish. with Max Trueman beating Bertie Vallèt in the final of the under 24 Page Cup and Arthur Munn beatin8 Gus James in the under 21 George Cooke Trophy. Gus playing with his father Tim won the TV Generations Tournament and the Godfray Racket saw three local prep-schools Icottesmore, Westbourne House and Amesbury) play a very close contest with eath school winning the same numbef of rnatches and Cottesmofe Winni on wunt back by one game against Westbourne the prevKJus winnews. The Eddie Harrison Trophy for the season's mort improved player went to Richard 5tsbles and the Ritblat Trophy Ifor the club member ¥tho has made an outstanding contribution to the club in the year) went to Carole Muir in rettEftitioTr of her mary years devoted swvice on the Board. Carole has now stepped down from the Board and ha5 been Tepla¢ed by rim Jame& It was also splendid to see Nigel Draffan win the National over 705 doubles trtle and participate in the British team's triumph in the Danby Cup lover 701. as did Geoffrey Russel in the over 60$ 8othick Cup. The club has been keen to supwrt the Investment in Professionals (11P1 Programme and are delighted, through the good OffeS of the Temts and Radtets Asso(ialion. to welcome Tim ArrnstroTha who joined u5 as an apprentice on l July 2022. The court remains in good order (apart from the occasional leakl and our thanks eo to dub secretary Jon Petersen and the pros for instsllingour excellent new strearningsystem. Our membership increased to48912021-482). The dub remains in good heart now that we are fully open again. The direclors of the Charity are gratefi to our pTofe55ionals for their hard work and to our members for their encouragement and financial supp(*L They would also like to thank Rathbone Investment Management for their kind support of juniortennis. Financial Review The net movement in funds forthe year ended 30June 2022 a Surplus of £21.557 (2021- surplus of £21,739}. Income frorn donatK)ns and legacies was down to £80.986 from £92.048 as the club did not receive any srnall 8ovemrnent grants in the current year (2021- £18.(K181. Expenditure on charitsble activithes decreased to £56.927 from £73.217 in 2021. The sigTrificaftt decrease arose due to the lockdown closed courts in the prior year1£32.8051. DurinE the year the Charity invested a further £40.0 in accurnulation units sn the COIF Charities Investment Fund. a listed investment in the United ngdOM. Atthe 30June 2022 there was an unrealtsed gain on the total investment of £55.LKX) of £1,473 {2021- £4,333). The Charty has £60.000 invested in a 5- year fixed rate business. trust and charity bond with an interest rate of 2.5%. Bank interest receivable amounted to £1.57512021- £1.5081. Unrestricted funds at 30 June 2022 arnounted to £121.63012021- £100.0731.
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2022 The prime risk to the Charity is that funds raised fail to meet liabilitie5 as they fall due. risk is mitigated as the Directors have prepared and considered experted cash flows such that they are confident that they will have the funds to meet all liabifrties as they fall due. Reserves policy Reserves are needed to bridge the eap between the spendinE and receiving of income and to cover unplanned expenditure. The tsustees 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. Director< responsib11 ities in relation to the financial staten*nts The Directors are responsible for preparing the Directors. Report and the financial statements in ccordance wth applicable law and United Kingdom Accounting Standards (Untted ngdoM Generallv Accepted Accounting Prarttte). Company law requir the Directors to prepare financial ststements for each financial year. which give a true and fair view of the state of the affairs of the dllble company and of the incoming resources and application of resources. induding the income and expenditure. of the chartsble cornpany for the year. In preparlng these fmancial statements. the Dirertw are required to: select suitable accountine pthcies and apply them consistently. observe the rnethod5 and principles in the Charities SORP: make judgements and estimates that are reasonable and pnjdent: prepare the financial ststernents on a going concem basis unles5 it ts inappropriate to presume that the Foundation will continue in operntion. The Directors are responsible for keeping proper atcountin8 records which disclose wtth reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements compfy with the Cornpanies P£t 2006. They are also responsible for safeguarding the a55ets of the charTtsble cornpany and hence for tsking reasonable steps for the pre¥entiDn and detection of fraud and other irregularities. The Dirertors are responsible for the maintenance and integrity of the corpornte and financ1 information included on the charitable compan5 website. LeglatiOn in the United Kingdorn governing the preparation and dSemination of the financial staternents may diifer from le8ation in Oth jurisdirtions. Approved by the Directors on 3 Ortober 2022 and signed on their behalf by: Robert Dolman Chairman
.Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2022 INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF PETWORTH HOUSE TENNIS COURT LIMITED FOR THE YEAR ENDED 30JUNE 2022 I report to the Charity Trustees on my examination of the financial Statements of Petworth House Tennis Court Limited Ithe Charityl for the year ended 30 June 2022. 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 statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the Charity are not rèquired to be audited under Part 16 of the 2006 Act and are eligible for independenl examination. I report in respect of my examination of the Charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under sertion 1451Sllbl of the 2011 Act. and Dedantist5' Foundation Independent examiner's Statement I have completed my examination. I confirm that no matter5 have come to my attention in connection with the examination giving me cause to believe that in any material respect= . 11 accounting records were not kept in respect of the Charity a5 required by section 386 of the 2C()6 Act- or 21 the financial statements do not accord with those records: or 31 the financial statements do not comply with the accounting requirement5 of 5ertion 396 of the 2006 Act 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.. or 41 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this port in order to enable a proper understanding of the financial statements to be reathed. Pauline B McAlpine.FCA S8M Associates Limited 24 Wandsworth Road London SW8 2JW 3 October 2022
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2022 srATEMENT OF FINANCIAL AcllviTIES FOR THE YEAR ENDED 30 JUNE 2022 Year to 30June 2022 Yearto 30June 2021 Income: Donations and legacies Income from charitsble activitie5 Investment incorne- bank interest receivable 81.630 92.(148 1.575 1.508 Totsl Income 83205 93,556 Expenditure: Expenditure on raising funds Expenditure on charitable activities: Interest payable and sirnilar charges 56.927 I61 73,217 1,675 Totsl expenditure 58.788 74,892 Net Income 24A17 18.664 Net {lass)18aln on Invesln 3,075 Net Movement In Fd5 21.557 21,739 Unrestrlcied Funds brw forward at i Juty 2WII I073 78,334 Unrestrirted Funts carried forward at 30 June 2022 121fi30 1(10,073 The above results are derived from Continui xtivittes and relate to the unrestricted income fund. There were no other recognised gains or losses other than those stated above.
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2022 C(¥npany Number- 06738258 BALANCE SHEEfAT 30 JUNE 2022 2022 2022 2022 2021 Unrestricted Restricted Total Funds Fund5 Funds Totsl Funds rixedossets Tangible assets Heritage assets Investments Totsl ffixed assets 214291 89,967 304.258 320,100 119.515 119.515 3336 89,967 423,773 80.837 400.937 Current assets Debtors Cash atbankand in hand io 16.624 31.217 47,841 16.624 31.217 47,841 2.363 53.973 56..336 Total current assets Llabllltles Creditor5, amounts fatling due wtthin one year li 1120,017) (72.176) (120.0171 2,176 1116,0491 (59.713) Net Trent Ilabililies Totsl assets les5 current nabifrf*s 261,630 89,%7 351,597 341.224 12 (u0.( iuo.0001 1140,000) 1,630 89.967 211,597 201,224 Thefvnds of the Charlty." Unrestricted income fund Restricted fund Total Charlty funds 12L630 121,630 89,967 89.%7 211.597 100.073 101,151 201,2Z4 89.967 1.630
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2022 For thè year ènding 30June 2020 the Charity was entitled to exemption fr¢)m audit under sertion 477 of the Companies Act 21. The members have not required the Charity to obtsin an audit of Tts accounts for the period in question in accordance with section 476 of the Companies Act 21N)6 The directors acknowledge their responsibilities f a) ensurir¥ that the charitable company keeps accounting records that compty with 5ection$ 386 and 387 of the Companies Art 2006: and bl preparing financial statements which give a true and fair view of the state ofaffairs ofthe charitsble company as at the end of each financial year and of its surplus OT deficit for each financial year in accordance with the requirements ofSection$ 394 and 395 and which otherwise comply with the requirements of the Companies Art 2006 relating to financial statements. so far as applicable to the charitable company These financial ststements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2(K16 relating to sm?M charitable companies. Approved by the Directors on 3 octob 2022 and sEned on their behalf by: ulian Wilkinson io
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2022 NOTES TO THE ACCOUNTS l. Accountin8 Policies Petworth House Tennis Court Limited is a private company limited by guarantee incorporated in England and Wales. The registered office ts Estste Yard. Park Road. Petworth. GU28 ODU. {al BaS of preparatio The financial statements have been prepared in accordance with the charitvs Articles of Association. the Companies Act 2006 and °Accountirvd and Reporting by CharTties= Statement of Recommended Practice pplicable to charities preparing their accounts in accordance with the Financval Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effecti¥e l January 20191". The charty is a Public Benefrt Entity as defined by FRS 102. The Chawity has taken advantage of the Pfovisions in the SORP for charities applw'n8 FRS 102 Update 8ullelin I not to prepare a Statement of Cash Flows. The financial statements are prepared in steir1. which is the functio1 currency of the charity. Monetary amounts in these financial staterne1 are rounded to the neaiest £. The financial statements have been plepared under the histOTical cost C4xMthn. Ib) Fund$ structure The Company has a restricted fund and an unrestricted income fund. The Directors may. at their discretion. allocate any part of the unrestricted income fund to the pUrpe5 of the Charity. Icl Income recognition policies Items of income are recognised On the Charity becomes legally entitled to the income, it is probable that the income will be received. any perfornbance conditwjns have been'met or are fully within the control of the Charity and the arnount can be measured reliably. Membership subscripth)ns and sponsorships are included as Income from donations as these are. in substance. donkn.ons rather than payment for goods or services. Gift Aid is specificalty related to the original donatio Idl Expenditure recognitM)n Liabilities are reCOgned as expenditure as soon as there is a legal or constwctive obligatn commrtting the Charity to the expenditure, it is 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 2022 NOTES TO THE ACCOUPU51Continued) lel Tangible Assets Tangible assets are reCOlSed on the balance sheet at C05L DepreCIatn is provided 50 as to write off the cost of the asset over its usefvl economK fife which for leasehold improvements is estimated atfifty years and for fumiture and equipment is estimated at 5 years. (Q Heritage Assets Heritsge assets are not recognised on the balance sheet as inforn)ation on their cost or dItion is not available and such infomiation cannot be obtained at a cost cornmensurate with the benefrt to the users of the financial statements. Igl Investrnents Investments in shares, whKh can be publidy traded. are measured at fair value {mafket value). Movernents in market fdlue are shown as unrealised gaiTrs/losses in the Statement of Financial Activities. Cash and cash equivalents are recognised at armrbsed c05L (h) Go¥ernrnent Grants Government and othergrants had previousty been recognised u5in8 the accrual rnodel option15ertion 24 of FR51021 that is not permitted by the Charities SORP. The grants for the extension that were received in the year ended 30 June 2018 and earlier are now reccenised in incorne in the RestTiCted Fund on systematic basis over the expected useful lrfe ofthe assets. (see note 131 lil Concessionary Loans Concessionary loans are loans received by the Charlty to further its purposes and the interest charged is below the prevailing market rates. Concessionary loans are measured at the amount received with the carrying amount adjusted in subsequent yeais to reflect repayments. 2. Going Coern The Directors have made a positive assessment of the Charws abilrty to continue as a going concern. In assessing whether the going contern assurnption is appropriate the directors have considered all awailable information about the future and specifically whether future incoming resources will generate sufficient funds to enable all existing liabilities to be settled as they fall due. 3 Related Party transartlons and Dlre(torf remuneratlon The Dirertors received no emoluments and redaimed no expenses durine the year {2020- nil). Three directors provided concessionary lo8 to the Charity agcregatiro to £30,1kn1 {2020- £30,000).
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2022 NOTES TO THE Accourits (Continued) 4 Donations and lezacies Note 2022 2021 Membership subscriptions Donations Sponsorship Small business govefnment grants Sundry 77.615 997 73.540 3.000 18.008 18 81.630 92,018 S Expenditure on charitsble acti¥ities Expenditure in pursuit of the Charitys objects: 2022 2021 Rent Repairs to Court Closed Courts Equipment and maintenance Light, heat and water Youth development Compelitions and tournaments DeprecMtion of leasehold irnprovemerbts Cleaning and waste disposal Support and govemance costs 15.000 2.076 689 15,000 32.805 L342 8,528 1.462 15,820 909 4,658 4,658 3.299 6.123 73.217 6.283 56,927 6 Support and governan costs 2022 2021 Independent examinerfs remuneration Insurance Telephone and internet Printin& stationery and other costs Sundry 410 560 1.566 2.107 1,698 192 1.882 1,708 683 6283
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2022 NOTES TO THE ACCOUNt51Continued) 7 Tangible FIX Assets Fumltwe & Lwhold Totsl Cost At l July 2021 and 30 June 2022 47.167 320,459 367,626 Depreclatlon At l July 2021 Charge for year At 30June 2022 19,226 47526 9.434 37.734 15.842 25.634 63.368 Net book value at 30 June 2021 18,867 9.433 301,233 294,825 320.1(MJ 304258 Net book ¥ae al 30 June 2022 The allocation of the depreciation charge between fvnds is: Unrestricted Fund- £4.658 £11.184 Restricted Fund- 8 Herits8e Assets The Charity hold5 a nurnber of hefitage assets that have been acquired by donation tn prior years. These include: Real tennis rackets of histOfKal interert and other real teDTri$ memorabilia: Pictures. prints and photographs: A bas-relief "A History of Tennis at Petworth" by Philip Jackson. The directors consider that the c05t of lUatiOn of the collection is likely to exceed the benefits provided by the infomiation and as wch no value is recrganised in these financial statements. 14
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2022 NOTES TO THE ACCOUNTS (Continued) 9. Investments Usted inveslment assets in U.L 2022 2021 Mirket value at l July Additions to investments at cost Unrealised Ilos5)/eain on rewdluation Market value at 30 June 19.333 16,258 12,860) 56.473 3,075 19333 Cash and cash ewknalents At l July Realised interest 61.504 1.538 6L504 1.504 At 30 June Total at 30 June 119.515 80.837 Cash and cash equi¥alents represent a ear fixed rate bu5ine55. trust and charity bond with an interest ate of 2.5 IQ Debtors 2022 2021 other debtors Prepayments and accrued incorne 14.130 2,494 16,624 2.363 2,363 11. Credltors, amounts falling due within one year 2022 2021 Other creditors 8.184 1,833 i10.c0 120,017 2.892 3,157 IiO.IK 116,049 Accruals and defeed income Concessionary loan payable A concessionary kn payable of £l(M).(XM) is repayable if the lender gives one month's nOte requiring repayment. This concessionary loan is unsecured and interest ts payable at 1% per anNm. A concessionary loan payable of £IO.Cm is unsecured and interest free. 15
Petworth House Tennis Court Limited Report and Accounts - year erKled 30 June 2022 NOTE5 TO THE ACCOUNTS {Continued) 12. Creditor5. amounts falling due after more than one year 2022 2021 Within two and fwe years Within five and ten years 140.(X)O 14QLK 140,000 140.0(X) The concessionary loans comprise fourteen teTryear loans. All the klans are unsecured and interest free. 13. Anatysis of funds 2022 2022 2021 2021 Restlthd Unrestricted Fund income fund Restrirted Fund Unrestricted income fund Fund biought fmnl at l JY Add- Income Less= Éxpenditure AddlLess.' Gains and {losse5) Fund carrled fW¥d at 30June lo1.1 100.073 82.561 (58.144) 12.860) 121.630 112,335 78,334 93.556 174.892 3.075 100,073 111.1841 111.1841 89.967 i,Isi 14 Legal status The Charity is a company limited by euarantee. The liability of each member in the event of a winding up is lirnited to £1. 16