Petworth House Tennis Court Limited Report and Financial Statements Year ended 30 June 2023 Charity number- 1186389 Company number- 06738258 •AcYJ? Jpv¥ 0910312024 COPIPANIES HOUSE
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Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2023 Reference and admlnistratlve Inforniation Trustees and Direrttys The following Trustees and Dirertors have served during the year: Robert Dolman. Chaimwn Nigel Draffan Damd Fortune Charles Fuente rim James Sirnon Knight lan McNally Robert Muir Andrew Page John Petersen. Secretary Christopher Swan Oliver Taylor (appointed 4 July 2023) Julian Wilkin50n Prlnopal Office Estate Yard Park Road Petsvorth GU28 ODU Chailty Number 1186389 Cornpany Number 06738258 Independent *(ntIng examlneys S8M Associates ts'rnited. 24 Wandsworth Road. London. SW8 2JW Honorary Solldtt Charles Fuente Bankers Barclays Bank Pk, Leicester. Leicestershire LE87 2BB Webslte http://petworthrealtennis.com
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2023 Report ot the Dire¢tors for the year ended 30June 2023 The Directors present their annual report and financial ststements of the Charity for the year ended 30 June 2023. The financial staternents compty with the Charities Art 2011. the Cornpanies Act 2006, the Memorandum and Articles of Association. and Accounting and Reporti by Charities: Statement of Recommended Practice applicable to dritIeS preparing their accounts in accordance viith the Financial Reporting Standard applicable in the UK and RepublK of Ireland (FIL% 102) (effective i January 20191. Structure• govemance and manaEernent Petworth House Tennis Court Limited (the-CharIj T$ incorporated on 31 October 2(K18 as a private company limited by guavantee (company number067382581 and registered as a charty Icharity number 1186389) on 15 Novernber 2019. It is gOvned by its Memorandum and Articles of AssocIatn, company and charity law. It seeks to undertake its chosen charitsble work through the deployrnent of its existing funds (both income and capital). It has twelve directols. who act as trustees of the Charity. The existing directors will appoint new directors where netetsary to complement the skills alIable to the board. The Mernorandum and Articles of A$¢•a require a minimum of two directors. with no rnaximurn number. As required by the Memorandum and Articles of Association, OnthIrd of the directors will retire at the annual 8enerdl meeting of the Charity held to cons•der these accounts and bein8 eligible. offer themselves for re-election. New direttors are provided with information on their responsibilities as directors and trustees and are briefed on the areas of artiwty of the Charity. Directors. meetings are held to dsS strategy and policy. The Chaimian and the responsible Dirertors handle day-to-day administntion, such as membership. fixtures. bookkeepin& fiTrance and general administration. All the 'reCtorS give theirtime and no remuneration was paid in the year. None of the Directors has claimed any expenses nor are there any related party tsan&ictions, except as fioted in these financial ststements. Oblective5 and activities for the public l*nefft The Charity promotes community ParticipatKXb in healthy recreation. in particular by the provision of facilities for the playing of Real Tennis. The Charity also promotes the conser¥atn. presenAtion and improvemeDt for the publK benefrt as a building of historic interest the Real Tennis Court at PelAvorth and educatton of the public about the history and hentsge of the building. In detem)ining how to achieve these objertives, the Directors have complied with their oblEatTron to have proper reeard to the guidance on public benefit published by the Charities Commission exercisww their powers or fulfilling their dutie5.
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2023 Athievements and Perf0mnee Petworth House tennis court. one of oTrty 27 in the UK has existed in its present location Since 1872 and the present club has played real tennis in it since 1960. The court is leased from the National Trust for a term of 99 years which commenced on l July 2015. An extension was completed in 2018 to provide l)etter changing facilities with dubroom and kitrhen. This will ensure that IK>th the sport of Real Tennis and the architerturally 5wanificant building wdl be secured for the I08-ten future. The club has a long history as one of the leadirva Real Tenni5 clubs in the UK with a strong trddition of playing opportunlties for all ages and abilities, all Eendefs and as a breeding ground for UK arnateur champions. The club finds itself in a geographical area tharacterised by a high proportion of retired residents. It ts a friendly and indusive club that contributes sEnificantly to the physical and mental health of its members. many of whom are retired. The dub offers all the beneffts of a typical tennis or sports club.. providing exercise, improvement to health. development of handleye co-ordination and sociability. The club prides ItseOn providing playiTha facilities of the heSt qualrty. These fa¢ilitie5 are not only available for use by local 5choots and community interest groups but are also able to host real tennis events p to national level providing inspiration to aspiiing th•mpb)ns. The Cl remains in good heart and has enpyed a full season. Wrth the problems of Covid banished, the court has been busy throughct the season with a good level of usage and many enjoyable friendly matches were played both home and away. The club remains keen to encourage these matches which give thechance for members of different standards to visit other club5 and meet and entertain their mernber5. On the Competiti front, our first team vms just pipped by LearnitOn in the quarter final of the Pol Roger and in turn SLrffèred an Èqually close def at the hands of RTC in their pltyoff match. Nevertheless with Freddie Bristowe at number one and a young team. the future kkS bright. Our professionals Torn Durack and Louis Gordon enjoyed some success in National League division one. aEthough were hampered by injury later in the season. Our National League division seven team led by Tim ATmstron8 lost nairowty in the final to Orntory and our National League division nine team led by Adrian Walburton suffered the same fate in their final again a8ain5t Oratory In the various dub tournaments. the A grade final was w)n by Bertie Vallat saved rnatch points to beat Ollie Taylor in a very close contest. with the 8 grade being won by Christopher Swan, the C grade by Henry Green, the D grade by James Delliere and the E yade by Richard Allin. In the club handicap events. the Penthouse Cup vjas for the second year by Gus Jarne5, wrth Torn Miller winning the Smith Bingham Trophy and Lulu Hutley the Coote Decanter. Our trmo ]ndICap doubles weekends (the Secretary's Cup and the Hennell Platel enjoyed full entries with the Secretarf5 Cup being won by Will Rydon and Alec Raeside and the Hennell Plate by James Harnblin and Dan Pilling. It was also pleasine to see so many teams (ten in all) competing in the Sunday night PenInt competib'on throughout the seas(m. with the winner5 being Lulu Hutley, Kate Rowe and Richard Blac*bum. The Junior section otthe club is pro8ressifftg well with Max Trueman narrowty defeating James Medlow in a thrilling final of the Under 24 Page Cup and Hany Be¥aThOmaS winning the Junior Handicap Tournament
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2023 known as the George Cooke. The Two GeneratIOr Tournament at Christmas was won by Tom and Will Fountain and the Prep Schools Tournament Ikrlown as the Godfray Racquet) by a new winner. Amesbury. During the season scouts from Petworth and Haslemere attended the club for introductory coaching sessions and since the year end there has been an introductory sesslon for the local youth club. The Eddie Harrison Trophy for the season's most impioved player werrt to Jane Taybr and the Ritblat Trophy for the club member who made an outstandire contribution to the club in the yeai went to Andrew Falk. Congratul?tion5 to Max Trueman for wtnning the Seacourt Silver Racquet and to Nigel Pendrigh for winning the Kershaw Cup for Brrtish (er 6Us. cOratUlatIonS also to Louis Gordon who played some quality tennis to get to the semi-final of the Jesmond Dene Cup. The season started in sOuthwt France by our partitipatKn in the fun Trois Tripots Toumament which our team won and it ended Wbth our annual early 5urnmer receptKm in the lovefy MUSK room and Earden at Champs Hill with over 60 members PrTrL All in all. itvrds a happy season and ourthanks as ever go to our excellent professionals Tom & Louis tOgetr with our intern Tim Arrnstrong who we are sure will make a fine professional. We remain theerful. solvent. and lapart from the odd leak in the roon in fine fettlel Our membership decreased to 47512022-489), the decrease being in noTr•layin8 mernbers. The directors of the Charity are grateful to our membets for their encouragement and financial support. They would 3150 like to thank Rathbone Investment Managernent for their kind support of junror tennis. Financial Revlew The net movement in funds for the year ended 30June 2023 was a surplus of £17.67612022- surplus of £21.5571. Income from lknnats"(s and legacies was mafeinally down to £80.344 from £81.630. Expenditure on charitable actNitses increased to £66,972 from £56 927 in 2022. During the year the Charity invested a further £20.& {2022- £40,OiX)) in accumulation units in the COSF Charities Investment Fund. a listed investment in the United TrEdOm. At the 30 June 2023 there was an nrealised gain on the totsl investment of £75.(KM) of £5.34412022- £1.4731. The Charity has £60.OIXI invested in a 5-year fixed rate business. tTUSt and charity bond with an interest rate of 2.5%. Ban interest receivable amounted to £1.75212022- £1.5751. Unrestricted fun¢ts at 30 June 2023 arnounted to £139,306 12022- £121.6301.
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2023 Thè prime risk to the Charity is that fvnds raised hil 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 they will have the funds to meet all liabifrties as they fall due. Reserves poliry Reserves are needed to bfidge the gap between the spending and recei¥ing of income and to Cover unplanned expendrture. The trust aim to continue to build up the unrestricted reserves of the Charity as these will reflect cash funds that will enable liabilities to be met as they fall due. Directorg responsilIt5 in relation to the financial ststements The Directors are responsible for preparing the DirectOTS' Report and the financtal statements in accordance with applicable law and United ngdoM Accounting Standards Iunited Kingdom Genernlly Accepted Accounting Practice). Company law requires the Dirertors to prepare fiTra1 statements for each firkancial year, which give true and fair wew of the state of the affairs of the tharitable rnPanY and of the incoming resources and application of resources. including the income and expenditure. of the charitsble company for the year. In preparing these financial statements. the Directors are required to: select surtable accounting poficies and appfy them consistertly. observe the methods and principles in the Charities SORP: make ju ements and estimates that are reasonable and prudent: prepare the financial statements on a going concern bas unless it is inappropriate to presume that the Foundation will continue in operation. The Directors are responsible for keeping proper acwunting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the finanaal ststements comply with the Cornpanies Act 2(. They are also responsible for safeguarding the assets of the charitsble comp•ny and hence for taking reasonable steps for the preVentn and detection of fraud and other irnegularities. The Dirertors are responsible for the rnaintenance and integrity of the corporate and financial information included on the charitable companvs website. LeglatiOn in the Untted KirEdom governing the preparation and dissemination of the financial ststernents may differ from legislation in other jurisdictions. Approved by the Direttors on 25 September 2023 and sened on their behalf bv: Robert Dolman Chairman
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2023 INDEPENDENT EXAMINER'S REPORTTO THE MEMBERS OF PETWORTH HOUSE TENNIS COURT LIMITED FOR THE YEAR ENDED 30JUNE 2023 I report to the Charity Trustee5 on my examination of the finantial statements of Petworth House Tennis Court Limited Ithe Charity) for the year ended 30 June 2023. Responsibilities and basis ol report As the Charity Trustee5 land also its directors for the purposes of company lawl you are responsible for the preparation of the finantial statements in accordance with the requirements of the Companies Art 2006 (the 2(K16 Act). Having satisfied myself that the financial statements of the Charity are not qUIred to be audited under Part 16 of the 2(X)6 Act 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 Charities Act 2011 (the 2011 Actl. In carrying out my examination I have followed èll the applicable DirectTrons given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerf5 Staternent 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 as required by section 386 of the 2006 Act. or 21 the financial statements do not accord with those records- or 31 the financial statements do not comply with the accounting requirements of section 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 reportiri8 by charities applicable to charities 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 attention 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 15 December 2023
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2023 STATEMEMf OF FINANa ACTivmES FOR THE YEAR ENDED 30 JUNE 2023 Year to 30June 2023 Year to 30Jur* 2022 Donations and legacie5 Income from charitsble activit$ Investrnent income- bank interest receiwdble 81.630 1.752 1.575 Totsl income 83205 Expendlture: Expenditure on raising funds Expenditure on charitable actsvit. Interest payable and similar charges 66.9n 1.896 56,927 1.861 Totsl expendfture 5&788 Net Inawne 24A17 Net galDI(10$5) invests (2,860) Net Movement In Funds I716 21.557 Unrestrlcted Funds INou8ht fowd at i 2022 121.630 IlJ).073 Unrestrlcted Funds arried foThvard at 30June 2023 139.306 121,630 The above results are derived from continuirE ¥ti¥ities and relate to the unrestricted intome fund. There were no othef recognised gains or losses other than those stated above.
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2023 CthThpany Number- 06738258 BALANCE SHEET AT 30 JUNE 2023 Note 2023 2023 2023 UnrestrlLted Restrlcted Totsl Furnts Funds Fd$ 2022 Total Funds Flxeda55ets Tangible assets Heritage assets Investments Totsl tlxed assets 209.633 78,784 288.417 304.258 145.539 355.ln 145,539 78.784 433.956 119.515 423,773 Debtors Cash at bank and in hand Total current assets io 16,294 22.444 738 16,294 22,444 38.738 16,624 31.217 47.841 LiobRltles Creditors, amounts falling due within one year li (iU.601) 175,866) {iU.6041 175.866) (120,0171 172,176 Net current Ilablliiles Totsl assets less current fiabifrties 2793( 78 784 358.0 351.597 12 (l40,(X) (140,000) U9J 7&784 218.0 211,597 Thelunds of the c1rfty.' Unrestricted income fund Restricted fund Totsl Charftylunds 13 13 139.306 139.306 78.784 78.784 78.784 218.09D 121,630 89,967 211,597 1393
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2023 For the year ending 30 June 2023 the Charitywas entitled to exemption from audit under sertion 477 of the Companies Act 2006. The members have not required the Charity to obtsin an audit of its accounts for the period in (westion in accordance with sertion 476 of the Companies Act 2¢J)6 The directors acknowledee their responsibilitie5 foT a) ensurirE that the charitable company keeps accounting records that compty with Sections 386 aDd 387 of the Companies Act 2(*J6' and b) preparing financial statements which give a true and fair view of the stateof affairs of the charitable cornpany a5 atthe end of each financial year and of Its surplus or deficit lor each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply wth the requirements of the Companies Art 2006 relating to fin•nto1 statements. so far as appllcable to the charitable company These fIn¢141 strtements ha been prepared in accordance with the special provisions of Part 15 of the Cornpanies Act 2(h)6 relating to smau chaiitable companies. Approved by the Directors OTr 25 September 2023 and SEned on their behalf by: Julian Wilkinson io
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2023 NOTES TO THE ACCOUPUS l. Accounting Pofjcies Petworth House Tennis Court Lunited 15 a private company limited by guarantee incorporated in England and Wales. The registered r)ffice is Estate Yard. Park Road, Petworth. GU28 ODU. {a) Basis of preParan The financial statements have been prepared in accordance with the charitvs Articles of Association. the Companies Act 2006 and "Accounting and Reportine by Charities: Ststement of Recommended Prartice applicable to charitie5 prepariw their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (effective l January 20191". The chaTity is a Public Benefrt Entty as defined by FRS 102. The Charty has taken advantage of the pro¥tsions in the SORP for charities apptying FRS 102 Update 8ulletin I not to prepare a Statement of Cash Fkrw The financial 5taternents are prepared in sterthNa. iCti is the funrtional currency of the charrty. Monetary amounts in these financial ststemeTrts are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. Ibl Funds structure The Company has a restrirted fund and an unTe5trKted income fvThd. The Directors may, at their disCretn. allocate any part of the unrestrirted inc<xne fvnd to the purposes of the Charity. (c) Income recognition pofKies Items of income are recoenised once the Charlty becomes legally entitled to the income, it is probable that the income will be received, any performance C0ndrtS ha¥* been met or are fully within the control of the Charity and the arrK)unt can be measured relbI¥. Mernbership Substriptn$ and sponsorships are included as Income frorn donations as these are. in substsnce. donations rather than payment for goo(ts or services. Gift Aid is specifically related to the original donation. (d) Expenditure recognition Liabilities are recognised a5 expenditure as soon as there is a legal or constructive obligatKID Commrtting the Charity to the expenditure. it is probable that settlernent will be required and the amount of the obligation can be measured reliabty. li
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2023 NOTES TO THE AccouKfs (Continued) (e) Tangible Assets Tangible assets are recognised on the balance shett at cost. tWeciatTh is provided to write off the c05t of the asset over its useful etonomic life which for leasehold improvements 15 estirnoted at fifty years and for furnIre and equipment is estirnated at 5 years. (n Hefitsge Assets Heritsge assets are not recognised on the balance sheet as information ¢)n their cost or valuation is not available and such Informa cannot be obtained at a cost commensurate with the benefitto the users of the financial ststements. Igl Investments Inve5trnents in shares. which can be publidy traded. are measured at fair value Imarket value). Movernents in market value are shown as unrealised gainsllos5es in the Statement of Financial Activities. Cash and cash equivalents are rettentsed at amortised cost. Ih) Government Grants Government and other grants had pieviousty been recognised using the actrual M¢tI option (section 24 of FRS1021 that is not perrnitted by the Charities SORP. The grants for the extensicm that were received in the year ended 30 June 2018 and earlier are rlow renISed in incorne in the Restricted Fund on systematic basis over the expected useful lrfe of the aets. (See note 131 lil Concessionary Loans Concessionary loans ale loans received by the Charity to further its puryx)ses and the interest charged is below the prewdiling market rates. Concessionary loans are measured at the amount received wrth the tarrying amount adjusted in subsequent years to reflect repayrnents. 2. Going Concern The Director5 have made a positive a$5essment of the Char"rtVs abilrty to continue as a goin8 concern. In assessing whethef the going concern assurnption is appropriate the dirertors have considered all available information about the future and specifKally whether future incoming resources will generate sufficient funds to enable all existin8 Imbilities to be settled a5 they fall due. 3 Related Party transartions and Directo remuneration The Directors recewed no emolumwts and reclaimed no expenses during the year12022- nill. Two dlrectors provided concessionary loans to the Charity aggregatlng to £20.CrfJ)12022- £20,000). 12
Petworth House Tennts Court Limited Report and Accounts - year ended 30 June 2023 NOTES TO THE ACCOUNTS (Continued) 4 Donations and legacies 2023 2022 Membership subscriptions Donations Sponsorship Small business govemment grants Sundry 77.615 997 3.000 18 81,630 5 Expendlture on tharitable artivities Expenditufe in pursuit of the Chafitys objects: 2023 2022 Rent Repaifs to Court Closed Courts 15.(K)O 15.000 2.076 676 Equipment and rnainteriance Light. heat and water Youth development Apprentice expenses Competitions and tournaments Depreciation of leasehold impn)vements Cleaning and waste disposal Support and governance costs 11.553 16,048 4,319 8.089 15,820 815 4.658 4,194 5.919 66.972 4,658 3.403 6.283 56,927 6 Support and governance costs 2023 Independent examinerfs wemuneratK>n Insurance Telephone and internet Printin& stationery and other costs Sundry 490 410 1.747 1.534 1.748 1,882 1.71 5.919
Petworth House Tennis Court Limited Report and Accounts - year ended 30 June 2023 NOTES TO THE Accoumfs (Continued) 7 Tangible Fixed Assets Totrl At l July 2022 and 30June 2023 47,167 320.459 367.626 DèpTedatlon At l July 2022 Charge for year At 30June 2023 37.734 9.433 25.634 63.368 15,841 6.408 47.167 32.042 79.209 Net book value at 30 June 2022 9.433 294.825 288,417 304.258 288,417 Net b1k value al 30 June 2023 The allocation of the depreaation charge between fvnds is: Unrestricted Fund- Restricted Fund - £4.658 £11.183 8 Herfta8e Assets The Charity holds a number of heritage assets that have been xquired by donation in prior years. These include: Real tennis rackets of historKal inteSt and other real tenDis memorabilB: Pictures. prints and photograph5: A bas-relief °A History of Tennis at Petworth" by Philip Jackson. The dirertors consider that the cost of lUatiOn of the tollection is likely to e¥¢eed the benefits provided by the information and as such no value is reAniSed in these financial statements. 14
Petworth House Tennis Court Limited Report and Accounts-year ended 30 June 2023 NOTES TO THE Accoumfs (Continued) 9. Investments Usted Investsnent assets In U.L 2023 2022 Market value at l July Additions to investments at cost Unrealised gainllloss) on revaluation Market value at 30 June 56,473 20.000 19,333 40,000 {2.8601 56A73 80,921 Cash and cash eqthalents At l July Realised interest 63.C42 1,576 64.618 61,504 1,538 At 30June Total at 30 June 145,539 119,515 Cash and cash equvrdlents representa 5-year fixed rate business. trust and charity bond wlth an interest rate of 2.5%. IIX Debtors 2023 2022 Other debtors Prepayments and aeerued income 13,704 2.590 16.294 14.130 2.494 16.624 11. Creditors. amounts falli due wlthln one year 2023 2022 other creditors Accruals and deferred income Concessionary loan payable 10.39S 4,209 ioo.ojo 114,604 8,184 1,833 iio.000 120.017 A concessionary loan payable of £I).(XI is repardble rfthe lenderEives one month's notice requiring repayment. This concessionary103n ts unsecured and interest is payable at 1% per annum. A concessionary loan payable of £-12022- £10.(KK)l is unsecured and interest free.
Petworth House Tennis Court Limited Report and Accounts- year ended 30 June 2023 NOTES TO THE Accouiifs (Continued) 12. Credltors, arno fall1 due after rnore than one year 2023 2022 (restated) Concessionary loans payable Within two and five years Within five and ten year5 I40.) iio,000 30,000 I40.)0 I40,0 The concessionary loans comprise fourteen teTryear loans. All the loans are unsecured and interest free. 13. Analysis of funds 2023 2023 2022 2022 Restrthd Fund Unfestricted income fvnd Restrirted Fund Unrestrictsd Income fund Fund brought fmrd at l J¥ Add: Income Less- Expenditure Add/Less- Gains and (losses) Fund (arrfed foryrnrd at 301une 89,967 121,630 82.0% 168.8681 101.151 100,073 83.205 {58,7881 12.8601 1,630 111.183) (11.184) 7&784 139.3( 89.967 14. Le8al status The Charity is a company Iwnited by guanntee. The fiability of each member in the ent of a winding up is limited to £1. 16