ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1188834
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
| CONTENTS | |
|---|---|
| Page 3 | Legal and Administrative Information |
| Pages 4 to 5 | Trustees' Report |
| Page 6 | Statement of Financial Activities |
| Page 7 | Balance Sheet |
| Pages 8 to 15 | Notes to the Financial Statements |
| Page 16 | Independent Examiner's Report |
2
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1188834 DATE OF REGISTRATION 31st March 2020 START OF FINANCIAL YEAR 1st April 2023 END OF FINANCIAL YEAR 31st March 2024 TRUSTEES AT 31ST MARCH 2024 Edward Shirman Andrew Macalpine Geno Esposito Keith Spaughton LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO - Association Registered 31st March 2020
OBJECTS
The promotion of Community participation in healthy recreation by providing facilities and coaching for playing Table Tennis in Barnet.
CORRESPONDENCE ADDRESS Barnet Table Tennis Centre Barnet Lane Barnet EN5 2DN PRIMARY BANKERS Barclay Bank Plc Walthamstow 3 Leicester LE87 2BB INDEPENDENT EXAMINERS Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
3
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST MARCH 2024
The report reviews the trading performance of the Club and its plans for the coming year.
THE TRUSTEES
The trustees of the charity are:
-
Keith Spaughton, Chair
-
Ed Shirman, Vice Chair
-
Geno Esposito
-
Andrew Macalpine
Under Rule 13.2 of the Constitution at every subsequent annual general meeting of the members of the CIO, one-third of the charity trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the number nearest to one-third shall retire from office.
Ed Shirman retired and was re-elected at the last AGM. Geno Esposito will now retire and offer himself for re-election at the next AGM which will be held in August 2024.
TRADING REVIEW
Overall, the club has had another excellent year with membership still increasing in all age groups. The Social TT sessions remain very popular and as mentioned in the previous report a limit on the number of attendees may have to be implemented as the venue gets very crowded.
The Summer League has again proved to be very popular and unfortunately some late team entries had to be refused as the maximum number of teams had been exceeded. The winter league managed by Barnets and District Table Tennis League is still struggling to regain its previous levels in the Premier Division but was able to add an additional Division at the lower end as players migrated from the Summer League. Hopefully the forthcoming year will see yet more teams wishing to take part in competition table tennis.
The junior coaching sessions continue to expand well and a group for individuals with Parkinson’s disease continue to participate. Additional competitions, managed by one of the BTTC committee members, have been organised and are proving very popular.
All necessary maintenance works have been carried out and having been given permission by Barnet Council to undertake the refurbishment of the toilets/changing facilities work is currently being undertaken and should be completed by the end of May 2024 and will cost around £130,000, most of which will fall into the next financial year.
Overall we continued to be a profitable organisation with a turnover of £134k and a net cash holding of £158k. Running costs had increased due to the continuing rise in utility costs, staffing and cleaning. We continued to invest our surplus funds in the business savings accounts which were opened in the previous year. Currently, as stated in the accounts, there was a total of £137k held.
The Club continues to be well positioned for future developments e.g. lounge and bar uplift for the benefit of members and the sport in the local and surrounding areas once sufficient funds have been accumulated.
As previously reported the CIO is a beneficiary of 25% of a property in St. Teath, Cornwall (currently held in a trust) and it is registered with the Land Registry.
4
BARNETTABLE TENNIS CLUB IBrrc) Ichafitsb lrt(xwat&l Org8ntsathl TRVSTEES. REPORT Icontlnuedl FOR THEYEAR ENDÉD 31ST MARCH 2024 TRUSTEEY AESPONSI8IUTIES The trLL8tee5 a resSIrtr fof weparw¥J Tr180$. R8KYI 8ThJ tho ffinar1 ststsmonts tn wrth applicabl8 Lw aTh1 the Generaty Accepled ACcti IGAAPI Financial Re[rj Statmlard 102" Tl Finartial Rep)rtry SlarKlard ap•tde w) ts LH( aThJ RetAthrfITr IUThrted Generaty hrIed AccjtIry Pracknl. The Clorits 2011 require InJsl8es to wepare finarrBI 5tatement5 ts exh finawl year give a tTue ar lair of the state of affaws ijf the CIO atKI 5LYFkn thfKil of thal perKrfL In yepariry I fi71 5ts1Ènnls tnjslaes are required to.. SeU Surtable accountiry OKies arKI aprty t1 conwytenty. MakeikwJJeffnts aThJ estimales trot are reasLYot4e a$ yDJent: State aptle UK Accountirg Stsrthr¢ have been Subject lo ary matenal departu$ de£l arKI exk4airEd In firk2ro1 staternÈn ccrtINr In eXter. firkirtLg1 of the charty and enat4e Irn to erwTe 114tt fvoru¥ Stslerrnts comtty cNintie$ Act 2011, t Charity lAr)Uts ar¥J Rep)nsl RegL4aitr6 2fYJ8 of <knmirg tkncumenL TW are a150 resFx)nsib12 safeguardir¥J the assets of u charty aThY iaknro steps trx th2 prevent aTrJ deiectr)n of traL and on their by Trustee .... . Printed PlaN*.. K S.-8Q614TO.
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Charitable Activities 3b Activities for Generating Funds 3c Investment Income 3d Other Incoming Resources 3e TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Cost of Generating Funds 4b Governance Costs 4c TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023/24 2022/23 £ £ £ £ 12,010 - 12,010 2,034 101,199 - 101,199 89,715 16,190 - 16,190 13,669 4,250 - 4,250 - 446 - 446 403 134,095 - 134,095 105,821 57,996 - 57,996 46,699 9,928 - 9,928 7,394 1,471 - 1,471 1,246 69,396 - 69,396 55,339 64,699 - 64,699 50,482 179,008 - 179,008 128,526 243,707 - 243,707 179,008 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 15 form part of these financial statements.
6
BARNETTABLE TENNIS CLUB (BC) BALANCE SHEET AS AT 31ST k4ARCH 2024 Totsl 31-M¥.24 Tot•1 Y1-Mar-23 F4xtdAswts Taryible Assets Investments Tots• Flx•d ASS•¢• 8530 85.530 •5.$30 85.530 Stock Debtus & PrepayTh8nts Cash ai Bank and In HarKI 2.112 126 158.261 159.947 158.26t 159,947 118,428 120,540 CrtdStor•'. Amounts 18'rJ dhIn 10 1.770 1.770 1532 NET CURRENT ASSETS 158.177 158.177 119.008 TOTAL ASSETS less currentl49be5 243.707 243,707 179m8 Credltors.. ArTrJunts faknJ dLt In tsn ar NET ASSETS 243,707 243,707 179.008 Ftst)d$0ftll CWity Gerra1 Funds Regtricled FuThJ$ 243.707 243,707 179.008 Total Funds 243,707 243,707 179,008 SMJned on thÈi thatrbYT110e...... ... ... . .. Pnnteo Name.. rf SPA)Gi4 fo*,
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services have been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
8
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £200.00. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment 20% - Straight Line Basis Leasehold Property Improvements 10% - Straight Line Basis
Amortisation
No amortisation is charged to freehold Land and Buildings as the Land and Buildings is maintained to such a standard that the estimated residual value is not less than cost.
Land & Buildings
Land and Buildings have been valued and included within the accounts at cost value as at the 20th April 2020 in accordance with FRS 102 - Previous revaluation as deemed cost.
9
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES (continued)
Valuation of Land and Building
During the financial period ended 31st March 2021 the Trustees of Barnet Table Tennis Club (BTTC) sought guidance and advice regarding the current market value of the 25% Share in the Land and Buildings held by the Charity at 25 Trehannick Close, St Teath, Bodmin, PL30 3LF. The Land & Buildings have been assigned to the Charity by Deed of Assignment Dated 20th April 2020. The Land and Buildings have been included in the accounts at market value as at the 20th April 2020 and are included in the accounts in accordance with FRS102 Previous Valuation Deemed Cost.
2. TANGIBLE FIXED ASSETS
| Cost 01-Apr-23 Additions Net Book Value at 31-Mar-24 Depreciation 01-Apr-23 Charge Depreciation at 31-Mar-24 Net Book Value 31-Mar-24 Net Book Value 31-Mar-23 |
Leasehold Land & Property Fittings & Total Building Improvements Equipment 2023/24 £ £ £ £ 60,000 - - 60,000 - 25,530 - 25,530 60,000 25,530 - 85,530 - - - - - - - - - - - - 60,000 25,530 - 85,530 60,000 - - 60,000 |
|---|---|
The Charity is undertaking substantial improvements to the leasehold premises and facilities with planned costs in the region of £130,000. The trustees have agreed to capitalise the cost of the leasehold property improvements over the expected useful life of 10 years. The Charity has contributed £25,530 toward the total cost of the leasehold property improvements during the financial year ended 31st March 2024 with additional planned costs in the region of £104,000 in the coming financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2024 : Annual operating lease obligations of £16,500 payable to Barnet Council who following a Community Benefit Assessment granted the Club 5 years rent free from 12 April 2019 when the current lease began, such that rent expense in both years is zero.
31st March 2023: Annual operating lease obligations of £16,500 payable to Barnet Council who following a Community Benefit Assessment granted the Club 5 years rent free from 12 April 2019 when the current lease began, such that rent expense in both years is zero.
10
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
3. INCOMING RESOURCES
| a) Donations, Grants & Legacies Gifts & Donations Gift Aid Tax b) Charitable Activities Coaching Fees Membership Fees Summer League Table Hire c) Activities for Generating Funds Bar Sales Equipment Sales d) Investment Income Interest e) Other Incoming Resources Sundry Income |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023/24 2022/23 £ £ £ £ 10,250 - 10,250 150 1,760 - 1,760 1,884 12,010 - 12,010 2,034 16,988 - 16,988 15,649 14,128 - 14,128 12,430 549 - 549 654 69,535 - 69,535 60,983 101,199 - 101,199 89,715 13,701 - 13,701 11,910 2,489 - 2,489 1,759 16,190 - 16,190 13,669 4,250 - 4,250 - 4,250 - 4,250 - 446 - 446 403 446 - 446 403 |
|---|---|
11
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
4. RESOURCES EXPENDED
| a) Cost of Charitable Activities Bank Charges Cleaning Costs Insurance Costs Licenses & Subscriptions Office Costs Rent & Rates Repairs & Maintenance Security Costs Staff Costs Sundry Expenses Telephone Costs Utility Costs Website Costs b) Cost of Generating Funds Cost of Sales c) Governance Costs Independent Examiners Fee Legal & Professional Fees |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023/24 2022/23 £ £ £ £ 1,544 - 1,544 1,389 8,379 - 8,379 7,589 3,314 - 3,314 3,001 902 - 902 849 183 - 183 385 150 - 150 - 7,343 - 7,343 2,917 21 - 21 453 22,674 - 22,674 21,840 186 - 186 110 718 - 718 446 10,290 - 10,290 7,720 2,293 - 2,293 - 57,996 - 57,996 46,699 9,928 - 9,928 7,394 9,928 - 9,928 7,394 810 - 810 675 661 - 661 571 1,471 - 1,471 1,246 |
|---|---|
12
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
5. RESTRICTED FUNDS
The CIO held no restricted funds during this or the previous financial year.
6. INVESTMENTS
The CIO held no fixed assets investments during this or the previous financial year.
7. STOCK
Stock consists of items purchased in order to generate profit to further the Charity's objects. Stock is valued at the lower of costs or net realisable value.
8. CASH AT BANK AND IN HAND
| Cash at Bank & in Hand | Unrestricted Restricted Total Total Fund Fund 31-Mar-24 31-Mar-23 £ £ £ £ 158,261 - 158,261 118,428 158,261 - 158,261 118,428 |
|---|---|
9. DEBTORS AND PREPAYMENTS
| Prepayments | Unrestricted Restricted Total Total Fund Fund 31-Mar-24 31-Mar-23 £ £ £ £ 126 - 126 - 126 - 126 - |
|---|---|
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Sundry Creditors Independent Examiners Fees |
Unrestricted Restricted Total Total Fund Fund 31-Mar-24 31-Mar-23 £ £ £ £ 960 - 960 857 810 - 810 675 1,770 - 1,770 1,532 |
|---|---|
11. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this or the previous financial year.
13
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
12. NET ASSETS BETWEEN FUNDS
| Fixed Asset Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted Total Total Funds Funds 31-Mar-24 31-Mar-23 £ £ £ £ 85,530 - 85,530 60,000 158,177 - 158,177 119,008 - - - - 243,707 - 243,707 179,008 |
|---|---|
13. STAFF COSTS AND NUMBERS
| Gross Wages, Salaries & Fees Employer's National Insurance Costs Pension Contributions Employees who were engaged in each of the following activities: Charitable Activities |
TOTAL 2023/24 £ 22,105 - 569 22,674 TOTAL 2023/24 2 |
TOTAL 2022/23 £ 21,840 - - 21,840 TOTAL 2022/23 2 |
|---|---|---|
The Charity operates a PAYE scheme to pay all members of employed staff and no employees received emoluments in excess of £60,000 (2022/23:None).
14. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them (2022/23:None).
15. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
16. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
14
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
17. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
18. POST BALANCE SHEET EVENT
The Charity is undertaking substantial improvements to the leasehold premises and facilities with planned costs in the region of £130,000. The trustees have agreed to capitalise the cost of the leasehold property improvements over the expected useful life of 10 years. The Charity has contributed £25,530 toward the total cost of the leasehold property improvements during the financial year ended 31st March 2024 with additional planned costs in the region of £104,000 in the coming financial period.
15
BARNET TABLE TENNIS CLUB (BTTC)
(Charitable Incorporated Organisation)
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the trustees/ members of Barnet Table Tennis Club (BTTC) on the accounts for the year ended 31st March 2024 set out on pages 7 to 15.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
-
follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
-
state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with 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 examiner's statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
K. Collaku MAAT Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
Date: 1st July 2024
16