REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 March 2024
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 2024
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 24A Bramshill Close, Arborfield, Wokingham, RG2 9NFG
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
For climatic reasons the year recorded negative revenue growth, but nevertheless funds from reserves continued 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 failed to meet expectations, and trading was severely impacted by the excessively wet weather conditions throughout 2023/2024. Expenditure, however, continued in line with plans to give a resulting shortfall of £44k from activities.
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 2024 was as follows:
Company
Greenskeeping Machinery & Buggies 62232 Course Construction 55925 ______ Total purchased 118157
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 £96608. 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 2024
COMMUNITY GOLF AND LEISURE TRUST
COMPANY INFORMATION
| CHIEF EXECUTIVE | Geoffrey Legouix |
|---|---|
| TRUSTEES | Stephen Baker |
| Alistair Kelman | |
| Barry Sandry | |
| COMPANY NUMBER | 11542365 |
| REGISTERED OFFICE | 24A Bramshill Close |
| Arborfield | |
| Wokingham | |
| RG2 9NF | |
| 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 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024
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 2024
| 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 |
£ £ 298,845 18,425 102,728 28,605 149,758 (266,301) (116,543) (85,694) 96,608 96,608 96,608 2024 |
£ £ 304,319 18,425 111,913 16,315 146,653 (178,076) (31,423) (131,501) 141,395 141,395 141,395 2023 |
£ £ 304,319 18,425 111,913 16,315 146,653 (178,076) (31,423) (131,501) 141,395 141,395 141,395 2023 |
|---|---|---|---|
| 141,395 | |||
| 141,395 | |||
| 141,395 |
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 2024 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 20 December 2024 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 2024
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 2024
INCOMING RESOURCES FROM ACTIVITIES TO FURTHER CHARITY'S OBJECTIVES
| Notes INCOMING RESOURCES From charitable activities Grants 2 Golf Course Operations Total Incoming Resources RESOURCES EXPENDED Expenditure on Charitable Activities Fundraising trading: cost of goods and services sold 4 Charitable Activities 4 Governance Costs 4 Total Resources Expended NET INCOME FOR THE PERIOD RECONCILIATION OF FUNDS Total Funds brought forward Total Funds carried forward |
Unrestricted Activities 2024 £ - 1,383,611 1,383,611 1,407,398 3,000 18,000 1,428,398 (44,787) 143,791 141,395 |
Unrestricted Activities 2023 £ - 1,468,870 |
|---|---|---|
| 1,468,870 | ||
| 1,449,266 4,000 18,000 |
||
| 1,471,266 | ||
| (2,396) 143,791 |
||
| 141,395 |
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
COMMUNITY GOLF AND LEISURE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
4 TOTAL RESOURCES EXPENDED
| Costs directly Basis of Golf Outreach allocated to activities Allocation Operations Work £ £ Staff Costs Direct 404,292 Course Maintenance Direct 185,685 Clubhouse Exps Direct 17,264 Buggy Expenses Direct 9,750 Café Direct 16,557 Retail Direct 6,849 Independent Examiner Direct Annual Report Direct Support costs allocated to activities Premises Area 378,119 2,000 General office & finance staff Staff Time 179,651 Communications Staff Time 11,500 1,000 Consultancy Usage 11,958 Legal & Professional Usage 4,572 Insurance Usage 27,906 Utilities Usage -11,742 1,000 Office & Admin Usage 8,871 HP Interest Usage 11,445 Depreciation Usage 123,631 Bank charges Transac 11,802 1,398,110 4,000 |
Costs directly Basis of Golf Outreach allocated to activities Allocation Operations Work £ £ Staff Costs Direct 404,292 Course Maintenance Direct 185,685 Clubhouse Exps Direct 17,264 Buggy Expenses Direct 9,750 Café Direct 16,557 Retail Direct 6,849 Independent Examiner Direct Annual Report Direct Support costs allocated to activities Premises Area 378,119 2,000 General office & finance staff Staff Time 179,651 Communications Staff Time 11,500 1,000 Consultancy Usage 11,958 Legal & Professional Usage 4,572 Insurance Usage 27,906 Utilities Usage -11,742 1,000 Office & Admin Usage 8,871 HP Interest Usage 11,445 Depreciation Usage 123,631 Bank charges Transac 11,802 1,398,110 4,000 |
Costs directly Basis of Golf Outreach allocated to activities Allocation Operations Work £ £ Staff Costs Direct 404,292 Course Maintenance Direct 185,685 Clubhouse Exps Direct 17,264 Buggy Expenses Direct 9,750 Café Direct 16,557 Retail Direct 6,849 Independent Examiner Direct Annual Report Direct Support costs allocated to activities Premises Area 378,119 2,000 General office & finance staff Staff Time 179,651 Communications Staff Time 11,500 1,000 Consultancy Usage 11,958 Legal & Professional Usage 4,572 Insurance Usage 27,906 Utilities Usage -11,742 1,000 Office & Admin Usage 8,871 HP Interest Usage 11,445 Depreciation Usage 123,631 Bank charges Transac 11,802 1,398,110 4,000 |
Governance £ 10,000 1,000 1,500 13,288 500 |
Total 2024 £ 414,292 185,685 17,264 9,750 16,557 6,849 1,000 1,500 380,119 192,939 12,500 11,958 4,572 27,906 -10,742 8,871 11,445 123,631 12,302 |
Total 2023 £ 385,723 259,997 16,392 2,419 21,130 6,641 1000 1500 390,677 196,387 8,093 3,659 4,704 17952 17,766 11,696 9,201 107,087 9,242 |
|---|---|---|---|---|---|
| 1,398,110 | 4,000 | 26,288 | 1,428,398 | 1,471,266 |
- 5 NET INCOMING RESOURCES FOR THE YEAR This is stated after charging:
| 2024 £ Depreciation 123,631 Examiners remuneration 1,000 Salaries and wages 597,870 Social security costs 31,861 Total 754,362 The average number of employees during the year, calculated on the basis of full time equivalents, was as follows: 2024 Chief Executive 1 Administration and support 20 |
2023 £ 107,087 1,000 559,866 22,244 |
|---|---|
| 690,197 | |
| 2023 1 20 |
The charity operates and contributes to a defined contribution pension scheme for 17 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 2024
6 TRUSTEE REMUNERATION & RELATED PARTY TRANSACTIONS
No members of the trustees received any remuneration during the period. Travel costs amoun to £121 were reimbursed to 2 trustees
No trustee or other person related to the charity had any personal interest in any contract or 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 falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 199 to the extent that these applied to its charitable objects. No tax charges have arisen in the cha
8 FIXED ASSETS
| Cost At 1 April 2023 Additions Disposals At 31 March 2024 Depreciation At 1 April 2023 Charge for Period Disposals At 31 March 2024 Net Book Value At 31 March 2024 At 31 March 2023 |
Course Improv'ts £ 55,925 55,925 55,925 |
Plant & Machinery £ 439,009 62,232 - 501,241 151,113 118,892 - 270,005 231,236 287,896 |
Fixtures and fittings £ 1,596 - - 1,596 1,731 (135) - 1,596 - (135) |
Office Equip £ 8,439 - - 8,439 2,766 1,688 - 4,454 3,985 5,673 |
Motor Vehicles £ 15,930 - - 15,930 5,045 3,186 - 8,231 7,699 10,885 |
Totals £ 464,974 118,157 - |
|---|---|---|---|---|---|---|
| 583,131 160,655 123,631 - |
||||||
| 284,286 298,845 304,319 |
9. DEBTORS
| DEBTORS | ||
|---|---|---|
| Trade Debtors Undeposited Cash Prepayments |
2024 £ 2,520 6,768 93,440 102,728 |
2023 £ - 10,078 101,835 |
| 111,913 |
Page 6
COMMUNITY GOLF AND LEISURE TRUST
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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10. CREDITORS AND ACCRUALS
Amounts falling due within one year
2024 2023
£ £
Trade Creditors 130,575 73,638
Hire purchase contracts 79,690 70,584
Social security and other taxes 11,732 6,704
VAT 1,274 2,600
Accruals and deferred income 6,042 9,550
Loan 36,988 15,000
266,301 178,076
11 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Hire purchase contracts 85,694 131,501
85,694 131,501
12. FINANCIAL COMMITMENTS
At 31 March 2024 the trust was committed to making the following payments under non
cancellable operating leases in the year to 31 March 2025:
2024 2023
£ £
Operating leases which expire:
In over five years - rent 360,000 360,000
13. RESERVES
Profit and
Loss Account
£
At 1 April 2023 141395
Loss for the financial period (44,787)
At 31 March 2024 96608
14. MOVEMENTS IN FUNDS
1 April Incoming Outgoing Transfers 31 March
2023 ResourcesResources 2024
Unrestricted funds:-
General funds 141,395 1,383,611 1,428,398 - 111,608
Golf tuition for juniors from
disadvantaged backgrounds - - 15,000 15,000 15000
Total funds 141,395 1,383,611 1,443,398 15,000 96,608
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Page 7
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
| Report to the trustees On accounts for the year ended Set out on pages |
Charity Name COMMUNITY GOLF AND LEISURE TRUST LTD |
Charity Name COMMUNITY GOLF AND LEISURE TRUST LTD |
Charity Name COMMUNITY GOLF AND LEISURE TRUST LTD |
|---|---|---|---|
| 31 MARCH 2024 | Charity no (if any) |
1188930 | |
| 1-3 |
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2023. 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.
Oct 2018
1
IER
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 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.
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Signed:
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----- Start of picture text -----
Date: 21 January 2025
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Name: BRIAN IVES Relevant professional qualification(s) or body (if any): Address: Brian Ives & Co Ltd 1 New Cottages, The Village Finchampstead RG40 4JX
Oct 2018
2
IER
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (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
3
IER