The Hyde Tennis Club Limited (A Charitable Company Limited by Guarantee)
Unaudited Annual Report and Financial Statements
For the Year Ended 31 August 2024
Company Number: 03413778 Charity Registered in England and Wales Number: 1187898
The Hyde Tennis Club Limited Contents For the Year Ended 31 August 2024
| 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 2024
| Trustees and Directors | L Blackburn |
|---|---|
| R Clark | |
| C J Davison | |
| S J Grier | |
| J N N Orr | |
| H Paterson | |
| P J Thicknesse | |
| 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 FCA BSc (Hons) |
| 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 2024
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 2024.
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 C J Davison (appointed 1 January 2024) S J Grier G Mallinson (resigned 1 January 2024) J N N Orr (appointed 1 January 2024) H Paterson P J Thicknesse J Turvill (resigned 1 January 2024)
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:
-
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
-
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 2024
Achievements and performance
It is now four years since the charity acquired the freehold of the court. The trustees continue to be properly focussed on the objectives and have a well developed risk register to ensure that all remains well. The risks are considered under five principal headings: building failure; loss of professional services; loss of membership; welfare and safety of players and visitors (with particular attention paid to children and vulnerable persons); failure to demonstrate public benefit. Of these, two in particular have resulted in trustee action. The first is the ongoing demand of keeping an old listed building in a fit and safe state, which requires significant time and resource. The second is the need to expand the membership, in order to ensure sufficient funding to fund the building maintenance plan. In both areas, good progress had been achieved, but there is still much to do.
Financial review
The total income of the charity for the year was £33,810 (2023 - £30,209) against total expenditure of £27,362 (2023 - £29,325). All expenditure was in line with the key objectives of the charity.
The charity was pleased to have increased its income to £33,810 compared to £30,209 in 2023. The increase was mainly due to more donations and bank interest received. During the year, the charity spent £5,531 on building and grounds maintenance and £21,831 on general running costs, resulting in a surplus for the year of £6,448. The charity is in good financial health; the Trustees consider that its membership related income is sufficient to fulfil its day to day Objectives and it has sufficient reserves to maintain the property as and when required.
Reserves policy
The Trustees aim to hold sufficient reserves to pay for building maintenance when it is required. At the year end the charity had restricted reserves of £153,439 and unrestricted reserves of £79,168. £22,439 of restricted reserves and £79,168 of unrestricted reserves are Net Current Assets so are available to be used to fund the future court upkeep and maintenance. The restricted reserves can be used for court upkeep and maintenance only.
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.
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The Hyde Tennis Club Limited Trustees’ Report For the Year Ended 31 August 2024
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 ……………
L Blackburn Director
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The Hyde Tennis Club Limited Independent Examiners’ Report to the Trustees For the Year Ended 31 August 2024
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 2024.
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 FCA BSc (Hons)
Date:…………..
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 2024
| Notes Income from: Grants and donations 3 Charitable activities 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net income / (expenditure) & net movement in funds for the year Reconciliation of funds: Total funds brought forward Total funds carried forward 9 |
Unres- tricted £ 30,561 3,249 33,810 21,831 21,831 11,979 67,189 79,168 |
Res- tricted £ - - - 5,531 5,531 (5,531) 158,970 153,439 |
Total Funds 2024 £ 30,561 3,249 33,810 27,362 27,362 6,448 226,159 232,607 |
Unres- tricted £ 29,378 831 30,209 24,263 24,263 5,946 61,243 67,189 |
Res- tricted £ - - 5,062 5,062 (5,062) 164,032 158,970 |
Total Funds 2023 £ 29,378 831 |
|---|---|---|---|---|---|---|
| 30,209 | ||||||
| 29,325 | ||||||
| 29,325 | ||||||
| 884 225,275 |
||||||
| 226,159 | ||||||
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 2024
----- Start of picture text -----
Notes
2024 2023
£ £
Fixed assets
Tangible fixed assets 6 131,000 131,000
131,000 131,000
Current assets
Debtors 7 2,260 845
Cash at bank and in hand 104,618 100,284
106,878 101,129
Creditors
Amounts falling due within one year 8 (5,271) (5,970)
Net current assets 101,607 95,159
Net assets 232,607 226,159
Funds
Unrestricted fund 9 79,168 67,189
Restricted funds 9 153,439 158,970
232,607 226,159
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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 …………………… 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 2024
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 2024
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 Freehold buildings Not depreciated
Fixed assets are valued at cost less depreciation. Items costing under £250 are not capitalised.
The freehold buildings are not depreciated on the basis the charity maintains a consistent level of maintenance and repair on the asset and the trustees undertake an impairment review annually.
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.
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The Hyde Tennis Club Limited Notes to the Financial Statements For the Year Ended 31 August 2024
2 Trustees’ remuneration
During the year, no travel expenses or subsistence was reimbursed to trustees (2023: £nil).
No trustees received wages for their services during the year (2023: £nil).
3 Donations (including grants)
| Gift aid Memberships Junior Academy Donations :Other Court Hire |
Unres- tricted £ 4,681 23,027 333 20 2,500 |
Res- tricted £ - - - - - - |
Total 2024 £ 4,681 23,027 333 20 2,500 |
Unres- tricted £ 4,618 21,805 315 140 2,500 |
Res- tricted £ - - - - - |
Total 2023 £ 4,618 21,805 315 140 2,500 |
|---|---|---|---|---|---|---|
| 30,561 | 30,561 | 29,378 | - | 29,378 | ||
4 Income from charitable activities
| Bank interest received | Unres- tricted £ 3,249 |
Res- tricted £ - - |
Total 2024 £ 3,249 |
Unres- tricted £ 831 |
Res- tricted £ - |
Total 2023 £ 831 |
|---|---|---|---|---|---|---|
| 3,249 | 3,249 | 831 | - | 831 | ||
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The Hyde Tennis Club Limited Notes to the Financial Statements For the Year Ended 31 August 2024
5 Charitable activities expenditure
----- Start of picture text -----
Unres- Res- Total Unres- Res- Total
tricted tricted 2024 tricted tricted 2023
£ £ £ £ £ £
Charitable Activities
Tennis professionals 895 - 895 310 - 310
- -
Light, Heat, Water 7,901 7,901 7,176 7,176
Tennis and Rackets Assoc. 182 - 182 172 - 172
Repairs and sundries 209 - 209 2,387 - 2,387
Landscaping 5,040 5,040 - 813 813
- -
Court and equipment costs 3,132 3,132 3,328 3,328
- -
Cleaning Contribution 2,352 2,352 1,690 1,690
Telephone and Internet 333 - 333 308 - 308
Alarm System 316 - 316 396 - 396
Bank charges 547 - 547 246 - 246
Building Repairs and 491 491 - 4,249 4,249
Maintenance
Waste collection 247 - 247 244 - 244
-
16,114 5,531 21,645 16,257 5,062 21,319
Governance expenditure
- -
Legal and Professional (544) (544) 2,897 2,897
Insurance 6,261 - 6,261 5,109 - 5,109
- -
5,717 5,717 8,006 8,006
21,831 5,531 27,362 24,263 5,062 29,325
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The Hyde Tennis Club Limited Notes to the Financial Statements For the Year Ended 31 August 2024
6 Fixed assets
----- Start of picture text -----
Property Total
Improvements
£ £
Cost
As at 1 September 2023 131,000 131,000
Additions - -
- -
Disposals
As at 31 August 2024 131,000 131,000
Depreciation
- -
As at 1 September 2023
- -
Charge for Year
- -
Disposals
- -
As at 31 August 2024
Net book value
As at 31 August 2024 131,000 131,000
As at 31 August 2023 131,000 131,000
Debtors
2024 2023
£ £
Other debtors 2,260 845
2,260 845
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7 Debtors
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The Hyde Tennis Club Limited Notes to the Financial Statements For the Year Ended 31 August 2024
8 Creditors - amounts due in less than one year
----- Start of picture text -----
2024 2023
£ £
Accruals and deferred income 5,271 5,528
5,271 5,528
9 Statement of funds
Balance Balance
as at as at
01.09.23 Income Expenditure Transfers 31.08.24
£ £ £ £ £
Restricted funds
- -
Court purchase and maintenance 158,970 (5,531) 153,439
Total restricted funds 158,970 - (5,531) - 153,439
Unrestricted funds
General 67,189 33,810 (21,831) - 79,168
-
Total funds 226,159 33,810 (27,362) 232,607
Statement of funds - 2023
Balance Balance
as at as at
01.09.22 Income Expenditure Transfers 31.08.23
£ £ £ £ £
Restricted funds
- -
Court purchase and maintenance 164,032 (5,062) 158,970
Total restricted funds 164,032 - (5,062) - 158,970
Unrestricted funds
General 61,243 30,209 (24,263) - 67,189
-
Total funds 225,275 30,209 (29,325) 226,159
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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 2024
10 Analysis of net assets between funds
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Unres- Res- Unres- Res-
tricted tricted 2024 tricted tricted 2023
£ £ £ £ £ £
Fixed assets - 131,000 131,000 - 131,000 131,000
Net current assets 79,168 22,439 101,607 72,873 22,286 95,159
Total funds 79,168 153,439 232,607 72,873 153,286 226,159
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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 2024 the company had seven members and the total amount guaranteed is therefore £1.
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