The Hyde Tennis Club Limited (A Charitable Company Limited by Guarantee)
Unaudited Annual Report and Financial Statements
For the Year Ended 31 August 2020
Company Number: 03413778 Charity Registered in England and Wales Number: 1187898
The Hyde Tennis Club Limited Contents For the Year Ended 31 August 2020
| Contents Reference and Administrative Details Trustees’ Annual Report Independent Examiner’s Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements |
Page 1 2 3 6 7 8 9 |
|---|---|
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The Hyde Tennis Club Limited Reference and Administrative Details For the Year Ended 31 August 2020
| Trustees and Directors | L Blackburn |
|---|---|
| R Clark | |
| T Hand | |
| G Mallinson | |
| J Milton | |
| H Paterson | |
| J Turvill | |
| Company Secretary | Battens Secretarial Services Limited |
| Registered Office | Battens Solicitors Limited |
| Mansion House | |
| Princes Street | |
| Yeovil | |
| BA20 1EP | |
| Trading address | The Hyde Tennis Club |
| Walditch | |
| Bridport | |
| DT6 4LB | |
| Independent Examiner | Joseph Doggrell ACA |
| Albert Goodman LLP | |
| Goodwood House | |
| Blackbrook Park Avenue | |
| Taunton | |
| Somerset | |
| TA1 2PX |
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The Hyde Tennis Club Limited Trustees’ Report For the Year Ended 31 August 2020
The trustees, who are also directors for the purposes of the Companies Act, present their report and unaudited financial statements of the charity for the year ended 31 August 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 of the financial statements and comply with the charity’s memorandum and articles of association, the Statement of Recommended Practice (SORP FRS 102- implemented 1 January 2019), and are in accordance with the special provision relating to small companies within Part 15 of the Companies Act 2006.
Public benefit
The trustees report that the charitable activities described in “Objectives and activities”, “Achievements and performance” and “Plans for future periods” are for the public benefit. The trustees also confirm that they have complied with section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
Structure, governance and management
The Hyde Tennis Club is an independent charity (registered number 1187898) and a company limited by guarantee (registered number 03413778).
The governing document is the memorandum and articles of association dated 14 January 2020. All business of the charity is conducted in accordance with its memorandum and articles of association together with the rules incorporated within this document. The following trustees, who are also directors for the purposes of company law, served during the period:
L Blackburn R Clark T Hand G Mallinson J Milton H Paterson J Turvill
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of liquidation of the company.
Objectives and activities
The objectives of the charity are:
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the promotion of community participation in healthy recreation by the provision of facilities for the playing of real tennis in the South West of England and in particular introducing the game to children and young people;
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to conserve, preserve and improve for the public benefit as a building of historic interest the real tennis court at the Hyde Tennis Club (Walditch Road, Walditch, Bridport, Dorset, DT6 4LB); and
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to educate the public about the history and heritage of the building.
The charity fulfils these objectives by allowing the club to be accessible to the public and through the promotion of the tennis as a sport. The charity has a particular focus on the younger members, and how to encourage them into the sport, alongside keeping the court, building and facilities in good order to grow the general participation in tennis.
The trustees have complied with the requirements of the Charities Act 2011 and have had due regard to the Charity Commission’s public benefit guidance.
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The Hyde Tennis Club Limited Trustees’ Report For the Year Ended 31 August 2020
Achievements and performance
During the year the charity received £166,535 towards court purchase and the future Court upkeep and maintenance. Since the year end the charity has purchased these facilities and commenced work to improve their condition for the benefit of its members and the public. COVID-19 has impacted the charity’s ability to encourage participation during the year however the charity has continued to offer a good junior programme where the government’s COVID-19 laws have permitted.
During the year the charity has had great success with fundraising. Principally this has been for two purposes. Firstly for the court purchase where the charity has raised £166,535 and secondly donations to support the costs of the self employed professionals during lockdown. The success of the fundraising enabled the charity to avoid using reserves associated with costs unavoidable due to the impact COVID19.
Financial review
The total income of the charity for the year was £247,835 (2019- £21,243) against total expenditure of £42,780 (2019- £22,412). All expenditure was in line with the key objectives of the charity.
The majority of the income in the year was in the form of donation income for the court and building purchase which happened after the year end on 15 September 2020. The surplus for the year was £205,055 compared to a deficit of £1,169 in the prior year. The variance is due to the impact of the donation income which doesn’t have any associated costs in the accounts. This income has been shown as restricted income and will be reduced as the court and building are subsequently depreciated in future years.
Reserves policy
The charity is still in the position of developing its reserves and therefore does not have a formal reserves policy. However the trustees aim to hold sufficient reserves in case any building maintenance is required. At the year end the total free reserves was £32,191 which the trustees consider sufficient to cover any unexpected costs.
At the year end the charity had restricted reserves of £201,639 which were used after the year end towards a court purchase and the future court upkeep and maintenance. Approximately £30,000 of this will be used on maintenance costs of the building following its acquisition.
Risk management
The trustees have considered the major risks to which the charity is exposed. They have reviewed those risks and established systems and procedures to manage them appropriately.
Plans for future periods
The charity has embarked on a project to purchase a new tennis court and building and will commence maintenance work. This will be alongside continuing to promote membership of the club to protect the long-term viability of the charity.
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The Hyde Tennis Club Limited Trustees’ Report For the Year Ended 31 August 2020
Statement of Trustees’ Responsibilities
The trustees (who are also directors of The Hyde Tennis Club Limited for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Company 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 charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy 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 assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Signed by order of the trustees on 27 May 2021
L Blackburn Director
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The Hyde Tennis Club Limited Independent Examiners’ Report to the Trustees For the Year Ended 31 August 2020
Independent examiners report to the Trustees of The Hyde Tennis Club Limited
I report to the charity trustees on my examination of the accounts of The Hyde Tennis Club Limited (“the Company”) for the year ended 31 August 2020.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not comply with these records; or
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the accounts 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
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the accounts 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 (FRS 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 report in order to enable a proper understanding of the accounts to be reached.
Joseph Doggrell ACA
Date:28 May 2021
Albert Goodman LLP Chartered Accountants Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX
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The Hyde Tennis Club Limited Statement of Financial Activities (including Income and Expenditure account) For the Year Ended 31 August 2020
----- Start of picture text -----
Unres- Res- Total Unres- Res- Total
Notes tricted tricted Funds tricted tricted Funds
2020 2019
£ £ £ £ £ £
Income from:
Grants and donations 3 42,147 205,171 247,318 22,096 - 22,096
Charitable activities 4 517 - 517 (853) - (853)
Total income 42,664 205,171 247,835 21,243 - 21,243
Expenditure on:
Charitable activities 5 39,248 3,532 42,780 22,412 - 22,412
-
Total expenditure 39,248 3,532 42,780 22,412 22,412
Net income / (expenditure)
& net movement in
-
funds for the year 3,416 201,639 205,055 (1,169) (1,169)
Reconciliation of funds:
- -
Total funds brought forward 28,775 28,775 29,944 29,944
Total funds carried forward 9 32,191 201,639 233,830 28,775 - 28,775
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The results for the year derive from continuing activities and there are no gains or losses other than those shown above.
The statement of financial activities incorporates the income and expenditure account.
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The Hyde Tennis Club Limited – Company Registration Number: 03413778 Balance sheet As at 31 August 2020
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Notes
2020 2019
£ £
Fixed assets
Tangible fixed assets 6 - 3,078
-
3,078
Current assets
Debtors 7 35,104 1,201
Cash at bank and in hand 199,326 24,999
234,430 26,200
Creditors
Amounts falling due within one year 8 (600) (503)
Net current assets 233,830 25,697
Net assets 233,830 28,775
Funds
Unrestricted fund 9 32,191 28,775
Restricted funds 9 201,639 -
233,830 28,775
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These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
For the period in question, the charitable company was entitled to exemption from an audit under section 477 of the Companies Act 2006.
The members have not required the charitable company to obtain an audit of its accounts for the period in question in accordance with section 476 the Act.
The trustees/directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved and authorised by the Board on 27 May 2021 and signed on its behalf by:
L Blackburn Director
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The Hyde Tennis Club Limited Notes to the Financial Statements For the Year Ended 31 August 2020
1 Accounting policies
1.1
General information and basis of accounting
The Hyde Tennis Club Limited is a company limited by guarantee incorporated in the United Kingdom under the Companies Act. Each member of the charity undertakes to contribute a maximum of £1 to the charity’s assets if it should be wound up while they are a member or within one year after they cease to be a member. The address of the registered office is given on page 2. The nature of the charity’s operations and its principal activities are set out in the Trustees Report.
The financial statements have been prepared under the historical cost convention and in accordance with the 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)(Charities SORP (FRS 102)).
The charity meets the definition of public benefit under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2
Income
All income is shown gross and included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Grants and donations in the form of corporate and individual donations are recognised when there is evidence of entitlement, and when the receipt is certain and measurable.
Government grants are recognised under the accruals model resulting in income being recognised on a systematic basis over the period in which the related costs are incurred for which the grant is compensating. The income from the scheme is recognised as donations and grant income in the statement of financial activity and timing differences presented as other debtors or deferred income within the balance sheet.
Income from gift aid is included when there is evidence of entitlement, and when the receipt is certain and measurable.
1.3
Expenditure
Expenditure is accounted for on the accruals basis. Liabilities are recognised in the accounting period to which they relate.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.
Support costs are shown under the costs in furtherance of the charitable activities.
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The Hyde Tennis Club Limited Notes to the Financial Statements For the Year Ended 31 August 2020
1.4 Fixed assets
Depreciation is calculated to write off the cost or valuation of fixed assets over their estimated useful lives at the following rate:-
Office equipment
33% straight line
Fixed assets are valued at cost less depreciation. Items costing under £100 are not capitalised.
1.5 Debtors
Trade debtors and other debtors are recognised at the settlement amount due.
1.6 Cash at bank and in hand
Cash at bank and in hand comprise cash on hand that is readily convertible to a known amount of cash and are subject to insignificant risk of change in value.
1.7 Creditors
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 are recognised at their settlement amount.
1.8 Taxation
The charity applies all income and gains for charitable purposes and is therefore not liable to corporation tax.
1.9 Fund accounting
General funds are unrestricted funds receivable or generated for the objects of the company without further specified purpose and are available as general funds.
Designated funds are unrestricted funds earmarked by the directors for particular purposes.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criterion is charged to the fund, together with a fair allocation of management and support costs.
1.10 Donated goods and services
The charity receives assistance in the form of donated goods and services, however it is considered that the benefit to the charity is not quantifiable or measurable. These donated items are therefore not included in the financial statements, however further reference is made to them in the Trustees Report.
1.11 Financial instruments
The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:
Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost and details in note 12.
Cash at bank – is classified as a basic financial instrument and is measured at face value.
Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost and detailed in note 12. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
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The Hyde Tennis Club Limited Notes to the Financial Statements For the Year Ended 31 August 2020
2 Trustees’ remuneration
During the year, no travel expenses or subsistence was reimbursed to trustees (2019: £nil).
No trustees received wages for their services during the year (2019: £nil).
3 Donations (including grants)
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Unres- Res- Total Unres- Res- Total
tricted tricted 2020 tricted tricted 2019
£ £ £ £ £ £
- - - -
Court purchase and future 166,535 166,535
upkeep and maintenance
Gift aid - 35,104 35,104 - - -
- -
Memberships 23,128 23,128 22,096 22,096
- - - -
Pro's Furlough 8,995 8,995
Junior Academy 25 - 25 - - -
Donations for tennis - - - - - -
professionals
- - - -
Lighting Grant 3,532 3,532
- - - -
Business rates grant 10,000 10,000
-
42,147 205,171 247,318 22,096 22,096
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4 Income from charitable activities
| Club Annual Dinner surplus Exhibition Match surplus Bank interest received |
Unres- tricted £ 331 185 1 |
Res- tricted £ - - - - |
Total 2020 £ 331 185 1 |
Unres- tricted £ (1,034) 170 11 |
Res- tricted £ - - - |
Total 2019 £ (1,034) 170 11 |
|---|---|---|---|---|---|---|
| 517 | 517 | (853) | - | (853) | ||
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The Hyde Tennis Club Limited Notes to the Financial Statements For the Year Ended 31 August 2020
5 Charitable activities expenditure
| Charitable Activities Tennis professionals New Lighting, net of Grant Light, Heat, Water Depreciation Tennis and Rackets Assoc. Licence Fee WDST Repairs and sundries Landscaping Court and equipment costs Cleaning Contribution Telephone and Internet Alarm System Bank charges Ball Materials Tennis Professional DOE Donation made DOE Donation in Junior Academy Payments Accounts Software for Pro Governance expenditure Legal and Professional Insurance |
Unres- tricted £ 12,750 5,603 4,353 3,128 2,156 1,500 1,356 570 450 400 383 266 122 - - - - - - |
Res- tricted £ - 3,532 - - - - - - - - - - - - - - - - - 3,532 - - - 3,532 |
Total 2020 £ 12,750 9,135 4,353 3,128 2,156 1,500 1,356 570 450 400 383 266 122 - - - - - - |
Unres- tricted £ - - 5,182 543 2,788 6,000 298 - - 728 740 372 77 1,200 1,250 1,209 600 - 400 241 |
Res- tricted £ - - - - - - - - - - - - - - - - - - - |
Total 2019 £ - - 5,182 543 2,788 6,000 298 - - 728 740 372 77 1,200 1,250 1,209 600 - 400 241 |
|---|---|---|---|---|---|---|
| 33,038 | 36,570 | 20,429 | - | 20,429 | ||
| 5,503 707 |
5,503 707 |
1,116 867 |
- - |
1,116 867 |
||
| 6,210 | 6,210 | 1,983 | - | 1,983 | ||
| 39,248 | 42,780 | 22,412 | - | 22,412 | ||
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The Hyde Tennis Club Limited Notes to the Financial Statements For the Year Ended 31 August 2020
6 Fixed assets
| Cost As at 1 September 2019 Additions As at 31 August 2020 Depreciation As at 1 September 2019 Charge for Year As at 31 August 2020 Net book value As at 31 August 2020 As at 31 August 2019 7 Debtors Other debtors |
Office Equipment £ 9,521 - |
Total £ 9,521 - |
|
|---|---|---|---|
| 9,521 | 9,521 | ||
| 6,443 3,078 |
6,443 3,078 |
||
| 9,521 | 9,521 | ||
| - | - | ||
| 3,078 | 3,078 | ||
| 2019 £ 1,201 1,201 |
|||
| 2020 £ 35,104 35,104 |
|||
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The Hyde Tennis Club Limited Notes to the Financial Statements For the Year Ended 31 August 2020
8 Creditors - amounts due in less than one year
----- Start of picture text -----
2020 2019
£ £
Accruals and deferred income 600 503
600 503
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| 9 Statement of funds |
|||||
| Restricted funds Court purchase Lighting Grant Total restricted funds Unrestricted funds |
Balance as at 01.09.19 £ - - - |
Income £ 201,639 3,532 205,171 |
Expenditure £ - (3,532) (3,532) |
Transfers £ - - |
Balance as at 31.08.20 £ 201,639 - |
| 201,639 | |||||
| General | 28,775 | 42,664 | (39,248) | - | 32,191 |
| Total funds Statement of funds - 2019 Restricted funds Court purchase Total restricted funds Unrestricted funds General Total funds |
28,775 Balance as at 01.09.18 £ - - 29,944 29,944 |
247,835 Income £ - - - - |
(42,780) Expenditure £ - - (1,169) (1,169) |
- Transfers £ - - - - |
|
| 233,830 | |||||
| Balance as at 31.08.19 £ - |
|||||
| - | |||||
| 28,775 | |||||
| 28,775 | |||||
Restricted funds include donations received towards a court purchase and future court upkeep and maintenance. Once the charity has acquired the new facilities, depreciation will be allocated against the restricted fund.
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The Hyde Tennis Club Limited Notes to the Financial Statements For the Year Ended 31 August 2020
10 Analysis of net assets between funds
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Unres- Res- Unres- Res-
tricted tricted 2020 tricted tricted 2019
£ £ £ £ £ £
Fixed assets - - - 3,078 - 3,078
Net current assets 32,191 201,639 233,830 25,697 - 25,697
-
Total funds 32,191 201,639 233,830 28,775 28,775
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11 Company limited by guarantee
The company was incorporated as a company limited by guarantee and has no share capital. The guarantee to the company is £1 per member on the winding up of the company. At 31 August 2020 the company had seven members and the total amount guaranteed is therefore £7.
12 Financial instruments
| Financial instruments that are debt instruments measured at amortised cost Financial liabilities measured at amortised cost |
2020 £ 234,430 234,430 (600) (600) |
2019 £ 26,200 |
|---|---|---|
| 26,200 | ||
| (503) | ||
| (503) | ||
There were no items of income, expense, gains or losses to report (2019: none).
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