REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 March 2022
The Trustees, who are also Directors of the company for the purposes of the Companies Act 2006, present their report with the financial statements for the period ended 31 March 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued 16 July 2014.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Name Community Golf and Leisure Trust Limited Registered Company Number 11542365 Registered Charity Number 1188930 Registered Office Santolina, No 9 Nine Mile Ride, Finchampstead, Berks. RG40 4QB
TRUSTEES
Stephen Baker (Chairman)
Barry Sandry
Alistair Kelman
CHIEF EXECUTIVE
Geoffrey Legouix
ACCOUNTANT
O Dadds
SOLICITORS
Winkfield Sherwood LLP, Minerva House, 5 Montague Close, London. SE1 9BB
STRUCTURE, GOVERNANCE AND MANAGEMENT
This is a Charitable Company limited by guarantee incorporated on 29 August 2018 and Registered as a Charity on 6 April 2020.
The Trust was established under a Memorandum of Association which established the objects and powers of the Charitable Company and is governed under its Articles of Association.
RECRUITMENT OF NEW TRUSTEES
In exercising its powers to nominate, appoint, reappoint elect, re-elect, approve and dismiss Trustees, the Trustees shall seek to ensure that the Board is representative of the local community and also comprises persons with a broad range of skills who are likely to contribute towards the Charity’s success.
ORGANISATION AND STRUCTURE
The Trustees, of up to six people, who meet quarterly, have delegated the responsibility of administering the Charity to a management team of five people
Geoffrey Legouix Chief Executive Mark Sandry Golf Operations Director Simon Sperring Course Manager – Broome Manor GC Jordan Evans Course Manager – Trent Park GC Odette Dadds Accounts/Finance
OBJECTIVES
-
To provide or assist in the provision of golf related facilities and services primarily for the benefit of the community and visitors to Swindon and Enfield. Such facilities being provided for the public at large.
-
To promote good health and wellbeing through community golf and other healthy recreation
The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Charities general guidance on public benefit.
With reference to the guidance in the Charity Commissions general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that they have set.
ACHIEVEMENT AND PERFORMANCE
Chairman’s Statement
Following on a productive first year’s trading we are very pleased to report a successful second term. Freed from the effects of the pandemic, the year saw continued revenue growth and enabled further funds to be allocated to charitable causes for the benefit of local residents in Enfield and Swindon Boroughs. In particular we provided funding for junior golf teams, free golf and equipment for the children of disadvantaged parents, and to encourage more people to play golf, supported the provision of complementary tuition services of our resident golf professionals.
It is the Charity’s policy to build up, over time, sufficient reserves however constituted to cover the risks, replacement of equipment and major capital development to sustain operations through all weather conditions.
FINANCIAL REVIEW
Income and Expenditure
The income from the period of trading bettered all expectations, the more so given that golf receipts were impacted by the Covid restrictions. Expenditure was also in line with plans and as a result the charity recorded a surplus of £132k from operations.
The surplus from operations of £132k represented a return on income of 8.3%, the charity is committed to continue to generate surpluses to re-invest into the service and community and at the same time, generate an acceptable level of surplus to contribute towards retained reserves. To this end, we are diversifying and expanding our business where possible to achieve this aim and to
provide a firm financial foundation and sustainable future to provide against contingencies in accordance with the Charity Commission’s recommendations.
Capital
The capital expenditure during the year to 31 March 2022 was as follows:
Company Greenskeeping Machinery & Buggies 263558 Motor Vehicles 15930 Computer Equipment 1886 ______ Total purchased 281374
The charity uses available reserves to underpin necessary re-investments back into the service. These investments are key to gaining future business success and ensuring customers continue to receive services at a quality and price that meets their growing expectations.
The charity will also continue to invest in energy efficiencies in line with our policy to reduce our carbon footprint, whilst keeping the increase in energy costs to a minimum to protect our surpluses.
Reserves Policy and charity funds
At 31 March 2022 the charity had accumulated reserves of £143791. Going forward the charity has a risk free investment policy and as such surplus money not immediately required for the operational needs of the charity will be invested in interest bearing accounts.
The Trustees recognise the need for a level of financial reserves that will:
1 Allow for planned investment and other similar purposes
2 Allow for cyclical maintenance expenditure which the charity has an obligation to incur under property leasing terms, and
3 Shield the charity from the possibility of adverse unforeseen circumstances
These unforeseen circumstances include a number of specific events that have been defined in the charity’s policy on Risk Management and Business Continuity. The Board have approved the following statement:
“It is the charity’s policy to build up, over time, sufficient reserves however constituted to cover the risks, replacement of equipment and major capital development as in it’s Business Continuity/Risk Management Policy. The charity aims to designate funds for capital investment purposes and to build up it’s general reserves over a number of years to a level equivalent to four to six months operational expenditure”
DISABLED PERSONS
The charity’s policy is to give full and fair consideration to applications for employment by disabled persons, having regard for their particular aptitudes and abilities. Disabled employees receive appropriate training to promote their career within the society. Employees who become disabled are retained in their existing posts where possible or are retrained for suitable alternative posts.
EMPLOYEE INVOLVEMENT
The charity has a policy of providing employees with information about the charity through staff meetings and the posting of updates on the staff information boards.
STATEMENT OF TRUSTEE RESPONSIBILITIES
The trustees are responsible for preparing the financial statements in accordance with the applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice. The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements the trustees are required to:
Select suitable accounting policies and then apply them consistently,
Make judgements and estimates that are reasonable and prudent,
Prepare the financial statements on the going concern basis unless it is appropriate to presume that the charitable company will continue in business
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.
We have referred to the guidance in the Charity Commissions general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
ON BEHALF OF THE BOARD
S Baker
Trustee
26 January 2023
Company No 11542365 Charity No 1188930
COMMUNITY GOLF AND LEISURE TRUST
(a company limited by guarantee)
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
COMMUNITY GOLF AND LEISURE TRUST
COMPANY INFORMATION
| CHIEF EXECUTIVE | Geoffrey Legouix |
|---|---|
| TRUSTEES | Stephen Baker |
| Alistair Kelman | |
| Barry Sandry | |
| COMPANY NUMBER | 11542365 |
| REGISTERED OFFICE | Santolina |
| Nine Mile Road | |
| Finchampstead | |
| Wokingham | |
| RG40 4QB | |
| ACCOUNTANT | Odette Dadds |
| INDEPENDENT REVIEWER | Brian Ives & Co Ltd |
| 1 New Cottages | |
| The Village | |
| Finchampstead | |
| RG40 4JX | |
| BANKERS | Metro Bank |
| One Southampton Row | |
| London | |
| WC1B 5HA |
COMMUNITY GOLF AND LEISURE TRUST
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their annual report and financial statements for the year ended 31 March 2022
PRINCIPAL ACTIVITIES
The trust's principal activity is the community operation of golf courses under the trading style of Broome Manor Golf Complex and Trent Park Golf Course.
TRUSTEES
The trustees who served during the period were:
Stephen Baker - Chairman Alistair Kelman Barry Sandry
TRUSTEES RESPONSIBILITIES
The trustees are obliged under company law to prepare financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice for each financial year.
The financial statements, of which the form and content is prescribed by the Companies Act 2006, must give a true and fair view of the state of affairs of the company at the end of the financial year, and of the profit or loss for that period, and they must comply with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements. The trustees must prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The trustees are also responsible for the adoption of suitable accounting policies, their consistent use in the financial statements, supported where necessary by reasonable and prudent judgements.
The trustees confirm that the above requirements have been complied with in the financial statements.
In addition, the trustees are responsible for maintaining adequate accounting records and sufficient internal controls to safeguard the assets of the company and to prevent and detect fraud or any other irregularities.
BY ORDER OF THE TRUSTEES
Signed on its behalf by Stephen Baker
Trustee
Page 1
COMMUNITY GOLF AND LEISURE TRUST
BALANCE SHEET AS AT 31 MARCH 2022
| Notes FIXED ASSETS 8 CURRENT ASSETS Stocks Debtors 9 Cash at Bank CREDITORS Amounts falling due within one year 10 NET CURRENT LIABILITIES CREDITORS: Amounts due in more than one 11 year TOTAL ASSETS LESS CURRENT LIABILITIES UNRESTRICTED FUNDS General Funds 13/14 TOTAL FUNDS |
£ £ 331,355 18,425 109,795 24,686 152,906 (194,882) (41,976) (145,588) 143,791 143,791 143,791 2022 |
£ £ 173,210 18,425 77,191 31,262 126,878 (200,872) (73,994) (87,300) 11,916 11,916 11,916 2021 |
£ £ 173,210 18,425 77,191 31,262 126,878 (200,872) (73,994) (87,300) 11,916 11,916 11,916 2021 |
|---|---|---|---|
| 11,916 | |||
| 11,916 | |||
| 11,916 |
These accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
For the year ended 31 March 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006.
The trustees have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
a) ensuring that the trust keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company
The financial statements were approved and authorised for issue by the trustees and were signed on its behalf on 26 January 2023 by
Stephen Baker Trustee
The notes on pages 3-7 form part of these financial statements
Page 2
COMMUNITY GOLF AND LEISURE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. PRINCIPAL ACCOUNTING POLICIES
A summary of the accounting policies which have been applied in these accounts is set out below:
- 1 a. Basis of accounting
These accounts have been prepared under the historical cost convention and in accordance with the provisions applicable to businesses subject to the small companies regime
- b. Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
- 2 Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income. The following policies are applied to particular categories of income:
-
Voluntary income is received by way of grants and is included in full in the statement of financial activities when receivable
-
Incoming resources from charitable trading activity are accounted for when earned
-
3 Resources expended
-
Expendtiture is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered,and is reported as part of the expenditure to which it relates
-
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's golf courses and retail shop
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them - Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked to the strategic management of the charity
-
All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriated basis eg floor areas,per capita or estimated usage as set out in note 4
-
1 Tangible Fixed Assets
Provision has been made so as to write down the cost value of the asset over its useful working life.
Plant & Machinery - 10% straight line Fixtures & Fittings - 10% straight line Office Equipment - 10% straight line 1.4 Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
- 1.5 Hire purchase and leasing commitments Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Page 3
COMMUNITY GOLF AND LEISURE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
DONATIONS & GRANTS
| 2022 Grants - English Golf Union 0 - Business Rates 36,000 - Furlough Claims 5,973 41,973 INCOMING RESOURCES FROM ACTIVITIES TO FURTHER CHARITY'S OBJECTIVES Unrestricted Activities 2022 Notes £ INCOMING RESOURCES From charitable activities Grants 2 41,973 Golf Course Operations 1,542,369 Total Incoming Resources 1,584,342 RESOURCES EXPENDED Expenditure on Charitable Activities Fundraising trading: cost of goods and services sold 4 1,416,393 Charitable Activities 4 9,800 Governance Costs 4 26,274 Total Resources Expended 1,452,467 NET INCOME FOR THE PERIOD 131,875 RECONCILIATION OF FUNDS Total Funds brought forward 11,916 Total Funds carried forward 143,791 Unrestricted |
2021 4,774 12,214 53,102 |
|---|---|
| 70,090 | |
| 2021 £ 70,090 1,155,177 |
|
| 1,225,267 | |
| 1,151,312 12,197 13,538 |
|
| 1,177,047 | |
| 48,220 (36,304) |
|
| 11,916 |
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
Page 4
COMMUNITY GOLF AND LEISURE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
4 TOTAL RESOURCES EXPENDED
| Costs directly Basis of Golf Outreach allocated to activities Allocation Operations Work £ £ Staff Costs Direct 424,206 Course Maintenance Direct 281,611 Clubhouse Exps Direct 15,057 Buggy Expenses Direct 7,757 Café Direct 19,945 Retail Direct 600 Independent Examiner Direct Annual Report Direct Support costs allocated to activities Premises Area 271,107 1,800 General office & finance staff Staff Time 197,019 Communications Staff Time 5,732 1,000 Consultancy Usage 500 6,000 Legal & Professional Usage 0 Insurance Usage 5,545 Utilities Usage 43,036 1,000 Office & Admin Usage 7,024 HP Interest Usage 5,830 Depreciation Usage 123,708 Bank charges Transac 7,716 1,416,393 9,800 |
Costs directly Basis of Golf Outreach allocated to activities Allocation Operations Work £ £ Staff Costs Direct 424,206 Course Maintenance Direct 281,611 Clubhouse Exps Direct 15,057 Buggy Expenses Direct 7,757 Café Direct 19,945 Retail Direct 600 Independent Examiner Direct Annual Report Direct Support costs allocated to activities Premises Area 271,107 1,800 General office & finance staff Staff Time 197,019 Communications Staff Time 5,732 1,000 Consultancy Usage 500 6,000 Legal & Professional Usage 0 Insurance Usage 5,545 Utilities Usage 43,036 1,000 Office & Admin Usage 7,024 HP Interest Usage 5,830 Depreciation Usage 123,708 Bank charges Transac 7,716 1,416,393 9,800 |
Costs directly Basis of Golf Outreach allocated to activities Allocation Operations Work £ £ Staff Costs Direct 424,206 Course Maintenance Direct 281,611 Clubhouse Exps Direct 15,057 Buggy Expenses Direct 7,757 Café Direct 19,945 Retail Direct 600 Independent Examiner Direct Annual Report Direct Support costs allocated to activities Premises Area 271,107 1,800 General office & finance staff Staff Time 197,019 Communications Staff Time 5,732 1,000 Consultancy Usage 500 6,000 Legal & Professional Usage 0 Insurance Usage 5,545 Utilities Usage 43,036 1,000 Office & Admin Usage 7,024 HP Interest Usage 5,830 Depreciation Usage 123,708 Bank charges Transac 7,716 1,416,393 9,800 |
Governance £ 10,000 1,000 1,400 5,000 8,374 500 |
Total 2022 £ 434,206 281,611 15,057 7,757 19,945 600 1,000 1,400 272,907 202,019 6,732 6,500 8,374 5,545 44,036 7,024 5,830 123,708 8,216 |
Total 2021 £ 345,656 190,607 13,686 4,686 10,994 418 500 1,500 327,782 135,872 7,796 6,500 9,462 20,461 33,773 17,706 609 40,926 8,113 |
|---|---|---|---|---|---|
| 1,416,393 | 9,800 | 26,274 | 1,452,467 | 1,177,047 |
- 5 NET INCOMING RESOURCES FOR THE YEAR This is stated after charging:
| 2021 £ Depreciation 123,708 Examiners remuneration 1,000 Salaries and wages 598,159 Social security costs 38,066 Total 760,933 The average number of employees during the year, calculated on the basis of full time equivalents, was as follows: 2021 Chief Executive 1 Administration and support 26 |
2021 £ 40,926 1,000 460,624 20,404 |
|---|---|
| 522,954 | |
| 2021 1 20 |
The charity operates and contributes to a defined contribution pension scheme for 23 of its staff and a defined benefit scheme for 3 of its staff
Page 5
COMMUNITY GOLF AND LEISURE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6 TRUSTEE REMUNERATION & RELATED PARTY TRANSACTIONS
No members of the trustees received any remuneration during the period. Travel costs am to £340 were reimbursed to 2 trustees
No trustee or other person related to the charity had any personal interest in any contract o transaction entered into by the charity during the year.
7 TAXATION
As a charity, Community Golf and Leisure Trust is exempt from tax on income and gains fa within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act to the extent that these applied to its charitable objects. No tax charges have arisen in the
8 FIXED ASSETS
| Cost At 1 April 2021 Additions Disposals At 31 March 2022 Depreciation At 1 April 2021 Charge for Period Disposals At 31 March 2022 Net Book Value At 31 March 2022 At 31 March 2021 |
Plant & Machinery £ 209,212 263,558 99,632 373,138 45,005 70,536 53,850 61,691 311,447 164,207 |
Fixtures and fittings £ 6,912 - 5,316 1,596 1,625 1,382 2,658 349 1,247 5,287 |
Office Equip 4,298 1,886 - 6,184 582 1,012 - 1,594 4,590 3,716 |
Motor Vehicles - 15,930 - 15,930 - 1,859 - 1,859 14,071 - |
Totals £ 220,422 281,374 104,948 |
|---|---|---|---|---|---|
| 396,848 47,212 74,789 56,508 |
|||||
| 65,493 331,355 173,210 |
9. DEBTORS
| Other Debtors- late processed green fees(due to Covid) - (Covid)rates grant received April 21 - undeposited cash - prepayments |
2022 £ - - 5,393 104,402 109,795 |
2021 £ 50,000 14,544 8,180 8,017 |
|---|---|---|
| 80,741 |
Page 6
COMMUNITY GOLF AND LEISURE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
10. CREDITORS AND ACCRUALS
Amounts falling due within one year
| Trade Creditors Extended Credit Agreement - machinery purchase Hire purchase contracts Social security and other taxes VAT Accruals and deferred income |
2022 £ 111,357 4,500 61,145 5,690 (7,485) 19,675 194,882 |
2021 £ 127,854 45,000 7,800 6,123 1,016 13,079 |
|---|---|---|
| 200,872 |
11 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| Extended Credit Agreement - machinery purchase Hire purchase contracts |
2022 £ - 145,588 145,588 |
2021 £ 60,000 27,300 |
|---|---|---|
| 87,300 |
12. FINANCIAL COMMITMENTS
At 31 March 2022 the trust was committed to making the following payments under non cancellable operating leases in the year to 31 March 2023:
| Operating leases which expire: In over five years - rent 13. RESERVES At 1 April 2021 Profit for the financial period At 31 March 2022 14. MOVEMENTS IN FUNDS Unrestricted funds:- General funds Golf tuition for juniors from disadvantaged backgrounds Total funds |
2022 2021 £ £ 360,000 360,000 Profit and Loss Account £ 11,916 131875 143791 31 March Incoming Transfers 31 March 2021 Resources 2022 11,916 1,584,342 -15,000 143,791 - - 15,000 - 11,916 1,517,469 - 143,791 |
2022 2021 £ £ 360,000 360,000 Profit and Loss Account £ 11,916 131875 143791 31 March Incoming Transfers 31 March 2021 Resources 2022 11,916 1,584,342 -15,000 143,791 - - 15,000 - 11,916 1,517,469 - 143,791 |
|---|---|---|
| 143791 31 March 2022 143,791 - |
||
| 143,791 |
Page 7
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
| Report to the trustees/ members of On accounts for the year ended Set out on pages |
Charity Name COMMUNITY GOLF & LEISURE TRUST |
Charity Name COMMUNITY GOLF & LEISURE TRUST |
Charity Name COMMUNITY GOLF & LEISURE TRUST |
|---|---|---|---|
| 31 MARCH 2022 | Charity no (if any) |
1188930 | |
| (remember to include the page numbers of additional sheets) 1-2 |
Report to the trustees/ members of
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended DD / MM / YYYY 31/03/2022 .
Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent [The charity’s gross income exceeded £250,000 and I am qualified to examiner's statement undertake the examination by being a qualified member of [insert name of applicable listed body]]. Delete [ ] if not applicable.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable 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.
- Please delete the words in the brackets if they do not apply.
Signed: Date: 26/01/2023 Name: Brian David Ives Relevant professional qualification(s) or body
Oct 2018
1
IER
(if any):
Address:
Brian Ives & Co Ltd 1 New Cottages, The Village Finchampstead RG40 4JX
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern New Cottages, The Village (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
Oct 2018
2
IER