Cheltenham
Bridge
Club
Trustees Annual Report and Accounts
For the year ending 31 December 2023
Cheltenham Bridge Club CIO
Registered Charity 1188825
## **Contents**
Report of the Trustees ....................................................................................................................... 3 Governing Document .......................................................................................................................... 3 Objectives and Activities ..................................................................................................................... 3 Governance and Management ........................................................................................................... 3 Achievements and Performance ......................................................................................................... 4 Membership ........................................................................................................................................ 5 Premises .............................................................................................................................................. 5 Reserves .............................................................................................................................................. 5 Declaration .......................................................................................................................................... 6 Independent Examiners’ Report to The Directors of The Trustee Company ......................................... 7 Respective responsibilities of trustees and examiner ........................................................................ 7 Basis of independent examiners’ report ............................................................................................. 7 Independent examiners’ statement ................................................................................................... 7 Statement of Financial Activities ........................................................................................................ 8 Balance Sheet .................................................................................................................................. 10 Cash Flow Statement ....................................................................................................................... 12 Statement of Accounting Policies ..................................................................................................... 13 Notes to the Financial Statements .................................................................................................... 15
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 2
## Report of the Trustees
## Governing Document
Cheltenham Bridge Club is a charitable incorporated association (CIO) which operates under a Constitution registered with the Charity Commission on 31 March 2020 and modified on 12 May 2021 and 27 April 2022. This Constitution closely follows guidance from the Charity Commission and the English Bridge Union. The registration number for the charity is 1188825. It is constituted under the law of England & Wales and operates in that jurisdiction.
The Constitution provides that the trustees of the Club shall manage the affairs of the Club and may for that purpose exercise the powers of the Club in accordance with its Constitution. The Constitution provides that there shall be a minimum of five trustees and a maximum of seven.
Pursuant to Clause 25 of this Constitution, the CIO has instituted Rules, approved by the members, for running the operation. Under these Rules, day-to-day operational details are delegated to a Management Committee, who are responsible for implementing decisions ratified by the trustees.
## Objectives and Activities
Cheltenham Bridge Club (the Club) owns and maintains premises for the purposes of providing bridge playing opportunities for its beneficiaries, and for the teaching of bridge.
The objectives of the Club, as set out in the Constitution, are:
- The advancement of amateur sport by promoting the game of bridge for the benefit of residents of Cheltenham and the surrounding area; and
- The provision of facilities for the learning, teaching and playing of bridge for the benefit of the residents of Cheltenham and the surrounding area with the object of improving conditions of life.
## Governance and Management
The operational activities of the CIO started on 1 May 2021 when it acquired the undertaking and all the assets and liabilities of Cheltenham Bridge Club, an unincorporated association, as a result of a vote of the members of the unincorporated association on 28 April 2021 to transfer the undertaking, assets and liabilities to the CIO.
Membership of the Club is open to anyone who is interested in furthering its purposes and accepts the responsibilities of membership set out in the Rules.
The trustees, officers and Management Committee are elected by the members of the Club at the Annual General Meeting of the Club. The officers of the Club are the Chairperson, Secretary and Treasurer. The officers are members of the Management Committee and the Chairperson and Treasurer are trustees of the Club by virtue of their respective offices. In addition, there are up to five independent trustees who are not members of the Management Committee.
The elected charity trustees shall hold office for a term of three years and may stand for re-election a further two times. Vacancies arising among the elected charity trustees may be filled by election by the members of the Club at the Annual General Meeting. During the year, additional or replacement trustees may be appointed by the members of the Club or of the other trustees of the Club. The maximum number of trustees is seven.
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 3
In planning the Club’s activities, the trustees kept in mind the Charity Commission’s guidance on public benefit.
The Club is affiliated to the English Bridge Union (registered company number 358588) and, by virtue of this affiliation, members of the Club are also members of the Gloucestershire Bridge Association.
## Trustees
The officers and trustees of the Club at 31 December 2023 were:
Alan Wilfred Wearmouth Chairperson of Trustees Became a trustee on 28 April 2021
Helen Janet Bryant Secretary of Trustees Became a trustee on 28 April 2021
- Nigel Foster Burton Became a trustee on 28 April 2021
- Ashok Kumar Kwatra Became a trustee on 9 April 2022 James Anthony Elliott Simons Became a trustee on 9 April 2022 Christopher Healy Chairperson of the Club, and ex officio Trustee
- Became a trustee on 9 April 2022
Jacqueline Saitch. Treasurer of the Club, and ex officio Trustee. Became a trustee on 13 May 2023
During the year ending 31 December 2023 the following individual was a trustee of the Club as set out below:
John Tobias Royan Roberts 18 October 2022- 13 May 2023 All trustees were briefed on the role of trustees of Cheltenham Bridge Club, given copies of the governing documents of the Club, and referred to the guidance on the Charity Commission website relating to becoming a trustee and to the guidance on public benefit.
Policies for trustee recruitment, training and induction are in the process of development.
## Achievements and Performance
The Club’s success in attracting existing and new members back to face-to-face play has been gradual but steady. By the end of the year, numbers playing face to face has increased dramatically and online has sadly diminished accordingly. The Club continues to provide and promote regular sessions of online bridge both at “gentle” and competitive level. Including both face to face and online sessions, the Club hosted 5077 tables of bridge in 2023, an 8% increase compared with 2022.
The Club held its annual Bournemouth Bridge Holiday in January 2023 (which was sold out) and in August 2023 the 2023 Cheltenham Congress was held at Deans Close School, run jointly by the Club and the Gloucestershire County Bridge Association.
Bridge tuition at all levels has remained a core activity during the year. The Club offers an introduction to Bridge for beginners, tuition and mentoring for developing players, “gentle bridge” sessions for less experienced players, “Bridge in a Weekend” courses and refreshers for those who may be out-of-practice. The “Tweak to Transform” seminars and playing practice sessions have proved extremely popular with 188 players attending seminars and 138 participating in practice sessions.
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 4
The Club’s activities have been greatly assisted by willing volunteers, all of whom fulfil vital roles in the Club’s operation, and to whom we are very grateful. The Club’s growth in numbers attending face-to-face sessions – 16 tables or more is now the norm - is only possible due to many volunteers undertaking activities such as Directing, Scoring, and providing refreshments at bridge sessions as well as membership of the Trustee Board and Management Committee and behind the scenes activities such as duplimating, and, of course, the maintenance of the building. The table money collected has doubled from the year previous as have the costs affiliated to the increased numbers. But overall the Club is in a very good place.
Membership fees and table money are determined by the membership at the Club’s Annual General Meeting. No change was made at the 2023 AGM.
## Membership
At the end of the year 2023 there were 524 full members and 32 Student members – 556 members of the CIO. in addition, there were 24 online fee paid visitors. (In 2022 there were 536 full members and 2 Students - 538 members of the CIO and 27 online fee paid visitors).
## Premises
The Club is the registered owner of freehold premises at 4 Tivoli Road, Cheltenham GL50 2TG. The Club’s principal office is at this address
## Reserves
The Trustees consider it is appropriate to provide for the retention of reserves as follows:
- An operational reserve of £10,000 to cover an unforeseen short- or medium-term cessation, or forced relocation, of the bridge-playing and teaching activities taking place in the Club premises, and
- A sinking fund of £100,000 to cover the anticipated costs of a managed programme of refurbishment, repair and renewal of the Club premises, in view of their age and condition.
## Strategy
The Club’s medium-term strategy remains under review, building on the Strategy Report formulated in 2022.
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 5
## Financial
The club remains in a healthy financial position.
- Cash on deposit amounted to £155k on 31 December and total cash at bank is £171k.
- After liabilities are met the club enters 2024 with cash levels around £112k
- Surplus for the 12 months is at £14,000 after providing for reserves of £30,000
- Variances against budget include.
- Net bridge fees are £7k higher than budgeted.
- Building expenses are £7k lower than budgeted. However, the budget for next year estimates at least £20k to be spent on the building.
- Other administrative costs are £7k lower than budgeted.
- Interest income and rents are £4k higher.
- There has been little movement on fixed assets with new TV monitors, Bridgemates and hall carpets the only additions.
## Declaration
The Trustees declare that they approve the report and accounts for the period ending 31 December 2023 on 26[th] March 2024.
Signed ............................................................
Alan Wearmouth, Chairman on behalf of the Trustees
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 6
## Independent Examiners’ Report to The Directors of The Trustee Company
## FOR THE YEAR ENDED 31 DECEMBER 2023
I report on the accounts of Cheltenham Bridge Club for the year ended 31 December 2023, which are set out below.
## Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year (under section 144 of the Charities Act 2022 (the Act)) and that an independent examination is needed. It is my responsibility to:
- examine the accounts (under section 145 of the Act);
- to follow the applicable directions given by the Charity Commission (under section 145(5)(b) of the Act); and
- to state whether particular matters have come to my attention.
## Basis of independent examiners’ report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## Independent examiners’ statement
In connection with my examination, no material matter has come to my attention which gives me cause to believe that, in any material respect:
- the accounting records were not kept in accordance with Section 130 of the Act; or
-
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008, 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.
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.
………………………………
**Martin Howard FCA Date:** ……………..
**Hazlewoods LLP Chartered Accountants**
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 7
## Statement of Financial Activities
## **Cheltenham Bridge Club CIO**
## **For the year ended 31 December 2023**
|**Income from charitable activities**
**Joining Fees and Subscriptions**
**Table Money**
UMS in table money
**Online income**
Online costs
**Learners’ sessions**
**Training Income**
Training fees
Catering, Stationery & Courses
**Net Training Income**
**Rental Income**
Bar income
Catering costs
Net bar costs
Special events
**Holiday Income**
**Donations and Fundraising**
**Investment Return (Congress)**
**Other Income**
**Total Income**|**2023**
**£**
**income**
**10,882**
**47,102**
**10,269**
**3,392**
**17,315**
**2,948**
-
1,123
**4,441**
**256**
**1,200**
**1,856**|**2023**
**£**
**direct**
**costs**
-8,099|**2023**
**2022**
**£**
**£**
**net**
**income**
**10,882**
11,070
26,354
**39,003**
25,856
**5,740**
**3,392**
1,865
21,584
**10,286**
**2,948**
2,051
28
**-1,400**
1,584
**1,123**
**4,441**
4,540
**256**
164
**1,200**
600
**1,856**
240|**2023**
**2022**
**£**
**£**
**net**
**income**
**10,882**
11,070
26,354
**39,003**
25,856
**5,740**
**3,392**
1,865
21,584
**10,286**
**2,948**
2,051
28
**-1,400**
1,584
**1,123**
**4,441**
4,540
**256**
164
**1,200**
600
**1,856**
240|**2022**
**£**
**direct**
**costs**
-3,962
-12,461
-8,437
-463|**2022**
**£**
**net**
11,070
22,392
13,395
1,865
12,684
2,051
-15
834
4,540
164
600
240
£69,820|
|---|---|---|---|---|---|---|
|||-4,529|||||
|||-6,417
-612|||||
|||
-1,400|||-43||
|||0|||-750||
||||||||
||**100,784**||**79,727**|£95,936|||
Expenditure is shown on the next page
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 8
|**Expenditure**
**Note**
Bridge Stationery
Equipment Repairs and Maintenance
IT Consultancy Costs
Other IT Costs
Cafe costs
Prizes and Entry Fees
Directors Course Costs
Depreciation, Bridge Equipment
3
**Total Bridge Costs**
Building Repairs and Maintenance
Air purifiers
Contingency reserve
Depreciation, Plant and Other Equipment
3
Cleaning
Insurance
Water Rates
Telephone and Internet
Utilities
**Total Occupancy Costs**
Bookkeeping and Accountancy Fees
Professional Services
**Total Administrative Costs**
Members' Loans Interest
Youth Bridge Costs
iZettle and bank charges
Payments to charities from events
Sundry Expenses
**Total Other Costs**
**Total Expenditure**
**Surplus from charitable activities**
2|**2023**
782
373
306
1,174
849
192
180
1,447
£5,303
25,413
0
10,000
3,724
10,498
2,578
1,941
600
3,311
£58,065
1,342
73
£1,415
0
190
210
259
236
£895
**£65,678**
**£14,049**|**2022**
79
1,943
263
1,179
892
137
825
803|
|---|---|---|
|||£6,121|
|||9,036
3,594
0
4,052
8,963
2,336
1,775
600
3,282|
|||£33,638|
|||318
870|
|||£1,188|
|||1,036
0
177
561
285|
|||£2,059|
||||
|||**£43,006**|
||||
|||**£26,814**|
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 9
## Balance Sheet
## Cheltenham Bridge Club Charitable Incorporated Organisation
|**As at 31 December 2023**
**Fixed Assets**
Investment
**Tangible Assets**
Buildings
Plant
Bridge Equipment
Other Equipment
Furniture & Fittings
**Total Tangible Assets**
**Total Fixed Assets**
**Bar Stocks**
**Debtors and Prepayments**
Debtors
Accrued income
Prepayments
**Total Debtors and Prepayments**
**Cash at Bank and in Hand**
Deposit Account
Current Accounts
**Total Cash at Bank and in Hand**
**Total Current Assets**|**2023**
**£**
2300
217,236
7,521
5,662
189
5,483
**236,091**
**238,391**
-
-
502
666
**1,168**
155,996
15,090
**171,086**
**172,254**|**2022**
**£**
500|
|---|---|---|
|||217,236
10,027
4,995
297
4,982|
|||**237,537**|
||||
|||**238,037**|
|||64
48
1,300
494|
|||**1,842**|
|||81,208
36,806|
|||**118,014**|
|||**119,920**|
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 10
## **Liabilities**
|**Current Liabilities**
Accounts Payable
Accruals
2024 Subscriptions/Training in Advance
Member Deposits
Holidays Holding Account
VAT
**Total Current Liabilities**
**Net current assets**
**Net Assets**
**Unrestricted funds**
See note 2
Surplus Brought Forward
Surplus for the Year
**Surplus Carried Forward**|1,466
4,680
13,420
9,112
26,000
4,503
**59,181**
**113,073**
**351,464**
307,415
44,049
**£351,464**|932
3,393
11,048
8,546
24,220
2,403|
|---|---|---|
|||**50,542**|
||||
|||**69,378**|
||||
|||**307,415**|
|||280,601
26,814|
|||**£307,415**|
The financial statements set out on pages 9 to 15 were approved by the Trustees on 26[th] March 2024 and were signed on its behalf by:
Alan Wearmouth
Chair of Trustees
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 11
## Cash Flow Statement
Cheltenham Bridge Club Charitable Incorporated Organisation
For the year ending 31 December 2023
|**Cash flows from operating activities**
Net surplus from operating activities
Add back depreciation
Purchase of fixed assets
Cash surplus from operating activities
(Increase)/decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in reserves
(Decrease)/increase in creditors
(Decrease)/increase in VAT due to HMRC
**Cash flows from financing activities**
Repayment of members loans
**Net change in cash**
Cash and cash equivalents at 1st January
**Cash and cash equivalents at 31st December**|2023
£
14,049
5,171
-3,724
15,496
64
-1,126
30,000
6,538
2,100
53,072
0
**53,072**
118,014
**171,086**|2022
£
26,814
4,854
-5,340|
|---|---|---|
|||26,328
-64
1,648
0
2,150
-836|
|||29,226
-43,000|
|||**-13,774**
131,788
**118,014**|
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 12
## Statement of Accounting Policies
The principal accounting policies have been applied consistently in dealing with items which are considered material in relation to the CIO’s Financial Statements.
## **Basis of preparation**
The Financial Statements have been prepared in accordance with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (update bulletin 1 applying FRS 102) and the Charities Act 2022. They have been prepared on the historical cost convention. The format of the Statement of Financial Activities has been simplified when compared with last year, to enable members to see more easily the performance of the club.
## **Going concern**
The trustees of the charity believe that the charity has adequate resources to continue in operational existence at for at least 12 months from the date the report and accounts are approved and continues to use the going concern basis of accounting in preparing the annual Financial Statements.
## **Fund accounting**
Unrestricted funds are the charity’s general funds that are available for use at the trustees’ discretion in furtherance of any of the charity’s objectives. Within the unrestricted funds is a designated fund that relates to the legacy received by Cheltenham Bridge Club from the late Derek Rue. These funds have been set aside for training and refurbishment purposes. The movements in this designated fund during the year are shown in note 2 to the accounts.
## **Incoming resources**
All income is recognised once the CIO has entitlement to the funds, it is probable that the income will be received and the amount of income can be measured reliably. Holiday deposits are held in a holding account and recognised as income once the holiday has taken place. Payments into player accounts are recognised as income when the player has taken part in a chargeable session. Income from Bridge Base Online is recognised on an accruals basis.
## **Expenditure**
Expenditure is recognised when a liability is incurred, when there is a legal or constructive obligation committing the charity to the expenditure and the obligation can be measured reliably.
## **Tangible fixed assets and depreciation**
The CIO owns the freehold property at 4 Tivoli Road, Cheltenham, Gloucestershire, GL50 2TG. The property is an operational asset and is stated at a historic carrying value. In the opinion of the Trustees, the open market value of the premises at 4 Tivoli Road is considered to be in excess of £1.3million.
Other tangible fixed assets, comprising plant (principally the lift) office and bridge furniture and playing equipment (see note 3), are stated at cost less accumulated depreciation. The CIO capitalises assets with a cost of £500 or more and an expected useful life of at least three years.
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 13
Depreciation for assets other than the freehold property is charged on a straight-line basis at the following rates:
|following rates:||
|---|---|
|Plant and machinery|10 years|
|Fixtures and fittings|10 years|
|Bridge and other equipment|5 years|
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 14
## Notes to the Financial Statements
Year ended 31 December 2023
## **1. Trustee remuneration, staff costs and contribution made by volunteers**
During the period under review
i) no remuneration nor any expenses were paid to any of the Trustees. ii) no staff were employed iii) the CIO was managed and operated entirely by volunteers
The teaching programme was delivered by self-employed tutors, the cost of which is shown as “training fees” in the Statement of Financial Activities.
The work of the management committee, and day to day directing of bridge sessions (with the exception of one weekly online session) were performed by volunteer members of the CIO. Without the contribution made by volunteers, it is likely that the CIO would have had an excess of expenditure over income.
## **2. Unrestricted funds allocation**
|General Fund
Maintenance Reserve
Contingency Reserve
Derek Rue Training Fund
Derek Rue Refurbishment Fund|**Surplus**
**at start**
**of year**
**Allocation**
**for the**
**year**
**Surplus**
**carried**
**forward**
301,194
14,049
315,243
0
20,000
20,000
0
10,000
10,000
5,816
0
5,816
405
0
405
**£307,415**
**£44,049**
**£351,464**|
|---|---|
The maintenance reserve is made up of £20,000 set aside for large scale maintenance to the premises at 4 Tivoli Road.
The contingency reserve is made up of £10,000 set aside for any unforeseen short- or medium-term cessation, or forced relocation, of the bridge-playing and teaching activities taking place in the Club premises.
The Derek Rue training and refurbishment funds are in relation to a legacy payment from said individual, to be utilised for specific training and refurbishment costs.
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 15
## **3. Fixed Assets**
The building represents the club premises which is an operational asset and is carried at historical cost. In the opinion of the trustees, the open market value of the club premises is in excess of £1.3 million
|**Cost**
Balance b/f
at 1.1.23
Additions
Disposals
Balance c/f
at
31.12.23
**Depreciation**
Balance b/f
at 1.1.23
Charge for the period
On disposals
Balance c/f
at
31.12.23
**Net book value**
at
31.12.23
Net book value
at 1.1.23|**Building**
**Plant**
**(lift)**
**Furniture**
**&**
**Other**
**Bridge**
**Total**
**Fittings**
**Equipment**
**Equipment**
**£**
**£**
**£**
**£**
**£**
217,236
25,067
26,158
4,284
18,540
291,283
-
-
1,610
-
2,114
3,724
-
-
-1,000
-2,118
-3,118|
|---|---|
||**217,236**
**25,067**
**26,768**
**4,284**
**18,536**
**291,891**|
||-
15,040
21,176
3,987
13,545
53,748
-
2,506
1,109
108
1,447
5,170
-
-1,000
-2,118
-3,118|
||**-**
**17,546**
**21,285**
**4,095**
**12,874**
**55,800**|
|||
||**217,236**
**7,521**
**5,483**
**189**
**5,662**
**236,091**|
|||
||217,236
10,027
4,982
297
4,995
237,537|
## **Investment in Congress**
**2300**
**238,389**
The investment represents the joint venture with Gloucestershire County Bridge Association to run the Cheltenham Bridge Congress. This is stated at cost. Cheltenham Bridge Club has accounted for its share of the net assets and profits of Cheltenham Bridge Congress during the year.
Annual Report to the Charities Commission 1.1.23 – 31.12.23
Page 16