| Review | ofthe charity's | ofthe charity's | ofthe charity's | ofthe charity's | Para 1.21 | The CIO did not commence trading until |
1 | ||
|---|---|---|---|---|---|---|---|---|---|
| financial | position | at | the end | May 2022. | |||||
| ofthe | eriod | ||||||||
| Statement | explaining | the | Para 1.22 | DFTC is focused on ensuring that the club |
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| policy for holding | reserves | has sufficient funds available for the future |
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| stating | why | they | are | held | and the reserves policy has been produced |
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| to manage the club's resources in a more |
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| effective way, to help secure the financial | |||||||||
| position ofthe club for the future. | |||||||||
| The target minimum operating reserve is |
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| equal to 6 months ofthe average recurring |
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| operating costs (excluding tennis activity |
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| costs). | |||||||||
| In addition, the dub plans to build a new |
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| clubroom and a Build Project reserve of |
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| F40,000 is required to fund the projected |
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| shortfall between the project cost and |
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| funding. | |||||||||
| In line with recommendations from the LTA |
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| the club will hold a Sinking Fund for the |
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| maintenance, refurbishment and ultimate |
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| replacement ofthe courts and floodlights. |
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| Initially these reserves will be funded via |
the | ||||||||
| transfer ofthe reserves ofthe | |||||||||
| uninco orated club. |
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| Amount | of | reserves | held | Para 1.22 | f0 | ||||
| Reasons for holding | zero | Para 1.22 | The funds ofthe original unincorporated |
club | |||||
| reserves | are to be transferred to the CIO with effect from 1"Ma 2022. |
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| Details | of fund materially | in | Para 1.24 | N/A | |||||
| deficit | |||||||||
| Explanation | ofany | Para 1.23 | None | ||||||
| uncertainties about |
the | ||||||||
| charity | continuing | as | a going | ||||||
| concern |
| Description ofcharity's |
N/A | ||||
|---|---|---|---|---|---|
| trusts: | |||||
| Type ofgoverning document |
Constitution formally adopted |
by the | |||
| members | in April 2022 | ||||
| How is the charity | Para 1.25 | CIO by Association | |||
| constituted'P | |||||
| Trustee selection methods | Para 1.25 | Any interested | persons who | support the | |
| including details ofany |
objectives | of | the Club. | ||
| constitutional provisions e.g. |
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| election to post or name of | |||||
| any person or body entitled | |||||
| to appoint one or more | |||||
| trustees |