**REGISTERED COMPANY NUMBER: 12390951 (England and Wales) REGISTERED CHARITY NUMBER: 1195627** **GOWERTON RUGBY FOOTBALL CLUB LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022** MHA Chartered Accountants 3 New Mill Court Swansea Enterprise Park Swansea SA7 9FG **GOWERTON RUGBY FOOTBALL CLUB LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022** ||**Page**| |---|---| |**Report of the Trustees**|1 to 2| |**Independent Examiner's Report**|3| |**Statement of Financial Activities**|4| |**Balance Sheet**|5 to 6| |**Notes to the Financial Statements**|7 to 13| |**Detailed Statement of Financial Activities**|14 to 15| **GOWERTON RUGBY FOOTBALL CLUB LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2022** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The report is also prepared in accordance with the small companies regime (Section 419 (2) of the Companies Act 2006). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The charity's objects are :- - the promotion of community participation in healthy recreation for the public benefit in Gowerton and the surrounding areas by the provision of facilities to participate in the amateur sport of rugby union. The provision of facilities encompasses providing buildings. equipment, access to coaching and organising sporting activities. ## **Significant activities** The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Covid-19 had a significant impact on organised sport, including rugby. However following the ending of lockdown restrictions the Clubhouse has been open for a range of activities during the year. The Senior rugby team, including the first and second team, have continued to develop during the year. The women, youth and junior rugby teams have also been well supported during the year. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The club has continued to attract new players of all ages and has remained committed to engaging with the local community. ## **FINANCIAL REVIEW** ## **Financial position** The surplus on unrestricted funds during the year was £17,849. Restricted funds represent funds raised for specific purposes. There were NIL restricted funds during the year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **Charity constitution** The charity is a private company limited by guarantee, registered in England and Wales and governed by its Articles of Association and is registered with the Charity Commission. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. None of the trustees has any beneficial interest in the company. ## **Decision making** The Trustees have the ultimate responsibility for developing and delivering the charity's strategy. Day to day management is undertaken by a management committee. Page 1 **GOWERTON RUGBY FOOTBALL CLUB LIMITED** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2022** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees** New trustees are familiarised with the governance structure of the charity, the aims and objectives of the charity and the roles undertaken by the management committee. They are given the opportunity to identify any area of activity in which they would like to be involved and if training is required this will be identified and provided by the charity. None of the trustees has any beneficial interest in the company. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 12390951 (England and Wales) **Registered Charity number** 1195627 ## **Registered office** 56 Cecil Road Gowerton Swansea SA4 3DE ## **Trustees** S J Howells (appointed 25/8/2021) R G Jenkins (appointed 25/8/2021) T B Davies (appointed 25/8/2021) J Knox (appointed 25/8/2021) M N Thomas (appointed 25/8/2021) The Trustees are also directors for the purposes of company law. S J Davies resigned as a statutory director of the company on 19 July 2021. ## **Independent Examiner** Brian Garland BA ACA ICAEW MHA Chartered Accountants 3 New Mill Court Swansea Enterprise Park Swansea SA7 9FG Approved by order of the board of trustees on 24 November 2022 and signed on its behalf by: J Knox - Trustee Page 2 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GOWERTON RUGBY FOOTBALL CLUB LIMITED** ## **Independent examiner's report to the trustees of Gowerton Rugby Football Club Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2022. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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. Brian Garland BA ACA ICAEW MHA Chartered Accountants 3 New Mill Court Swansea Enterprise Park Swansea SA7 9FG Date: ............................................. Page 3 **GOWERTON RUGBY FOOTBALL CLUB LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2022** ||||PERIOD| |---|---|---|---| ||||7/1/20| |||YEAR ENDED|TO| |||30/4/22|30/4/21| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations||46,054|28,012| |Other trading activities|2|141,298|29,634| |Investment income|3|67|71| |Other income||29,266|60,141| |**Total**||216,685|117,858| |**EXPENDITURE ON**|||| |Raising funds||105,047|47,444| |Establishment costs||93,789|64,988| |**Total**||198,836|112,432| |**NET INCOME**||17,849|5,426| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward||241,496|236,070| |**TOTAL FUNDS CARRIED FORWARD**||259,345|241,496| The notes form part of these financial statements Page 4 ## **GOWERTON RUGBY FOOTBALL CLUB LIMITED** ## **BALANCE SHEET 30 APRIL 2022** |2022
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
8
181,661
Investments
9
6,400
188,061
**CURRENT ASSETS**
Stocks
10
6,565
Debtors
11
-
Prepayments and accrued income
5,108
Cash at bank and in hand
125,927
137,600
**CREDITORS**
Amounts falling due within one year
12
(35,144)
**NET CURRENT ASSETS**
102,456
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
290,517
**CREDITORS**
Amounts falling due after more than one year 13
(31,172)
**NET ASSETS**
259,345
**FUNDS**
15
Unrestricted funds
259,345
**TOTAL FUNDS**
259,345|2021
Total
funds
£
185,986
6,400
192,386
3,632
4,165
3,686
98,103
109,586
(10,476)
99,110
291,496
(50,000)
241,496
241,496
241,496| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company. The notes form part of these financial statements Page 5 continued... **GOWERTON RUGBY FOOTBALL CLUB LIMITED** **BALANCE SHEET - continued 30 APRIL 2022** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 24 November 2022 and were signed on its behalf by: J Knox - Trustee The notes form part of these financial statements Page 6 **GOWERTON RUGBY FOOTBALL CLUB LIMITED** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in the financial statements are rounded to the nearest £. ## **Going concern** The company has made a profit before tax in the year and has both net current assets and net assets at the balance sheet date. The directors believe that the company is well placed to manage its business risks successfully, despite the current uncertain economic outlook. In considering the Coronavirus (COVID-19), the directors understand that the full impact on the business is unclear. However, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Donations** Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. ## **Government grants** Government grants are recognised at the fair value of the asset received ore receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Short leasehold - 2% on cost Fixtures and fittings - 25% on cost Page 7 continued... **GOWERTON RUGBY FOOTBALL CLUB LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022** ## **1. ACCOUNTING POLICIES - continued** ## **Stocks** Stocks are valued at the lower of cost and net realisble value, being the estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, bank overdrafts. Bank overdrafts are shown in current liabilities. ## **Financial instruments** Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. ## **2. OTHER TRADING ACTIVITIES** |YEAR ENDED
30/4/22
£
Bar and food sales
141,298
**3.**
**INVESTMENT INCOME**
YEAR ENDED
30/4/22
£
Deposit account interest
67|PERIOD
7/1/20
TO
30/4/21
£
29,634
PERIOD
7/1/20
TO
30/4/21
£
71| |---|---| Page 8 continued... **GOWERTON RUGBY FOOTBALL CLUB LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022** ## **4. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): |||PERIOD| |---|---|---| |||7/1/20| ||YEAR ENDED|TO| ||30/4/22|30/4/21| ||£|£| |Depreciation - owned assets|15,437|15,535| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 April 2022 nor for the period ended 30 April 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 April 2022 nor for the period ended 30 April 2021. ## **6. STAFF COSTS** The average monthly number of employees during the year was as follows: ## **7.** |||PERIOD| |---|---|---| |||7/1/20| ||YEAR ENDED|TO| ||30/4/22|30/4/21| |Staff|15|10| |No employees received emoluments in excess of £60,000.||| |**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||| |||Unrestricted| |||fund| |||£| |**INCOME AND ENDOWMENTS FROM**||| |Donations||28,012| |Other trading activities||29,634| |Investment income||71| |Other income||60,141| |**Total**||117,858| |**EXPENDITURE ON**||| |Raising funds||47,444| |Establishment costs||64,988| |**Total**||112,432| Page 9 continued... **GOWERTON RUGBY FOOTBALL CLUB LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022** ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** ||Unrestricted| |---|---| ||fund| ||£| |**NET INCOME**|5,426| |**RECONCILIATION OF FUNDS**|| |Total funds brought forward|236,070| |**TOTAL FUNDS CARRIED FORWARD**|241,496| ## **8. TANGIBLE FIXED ASSETS** |**COST**
At 1 May 2021
Additions
At 30 April 2022
**DEPRECIATION**
At 1 May 2021
Charge for year
At 30 April 2022
**NET BOOK VALUE**
At 30 April 2022
At 30 April 2021
**FIXED ASSET INVESTMENTS**
Other|Freehold
property
£
29,625
-
29,625
-
-
-
29,625
29,625
|Short
leasehold
£
125,883
-
125,883
4,031
4,031
8,062
117,821
121,852|Fixtures
and
fittings
£
36,819
11,112
47,931
9,205
9,682
18,887
29,044
27,614|Computer
equipment
£
9,194
-
9,194
2,299
1,724
4,023
5,171
6,895
2022
£
6,400|Totals
£
201,521
11,112
212,633
15,535
15,437
30,972
181,661
185,986
2021
£
6,400| |---|---|---|---|---|---| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ## **9. FIXED ASSET INVESTMENTS** There were no investment assets outside the UK. Investments (neither listed nor unlisted) were as follows: ||2022|2021| |---|---|---| ||£|£| |WRU debentures|6,400|6,400| Page 10 continued... **GOWERTON RUGBY FOOTBALL CLUB LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022** |**10.**
**STOCKS**
Stocks
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
VAT
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 14)
Trade creditors
Corporation tax
Social security and other taxes
VAT
Other creditors
Stewards bond
Accrued expenses
**13.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Bank loans (see note 14)
Other loans (see note 14)
**14.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Other loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years|2022
£
6,565
2022
£
-
2022
£
10,000
7,166
2,873
836
967
9,435
1,005
2,862
35,144
2022
£
31,172
-
31,172
2022
£
10,000
21,297
-
21,297
9,875|| |---|---|---| Page 11 continued... **GOWERTON RUGBY FOOTBALL CLUB LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022** ## **15. MOVEMENT IN FUNDS** |At 1/5/21
£
**Unrestricted funds**
General fund
241,496
**TOTAL FUNDS**
241,496
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
216,685
**TOTAL FUNDS**
216,685
**Comparatives for movement in funds**
At 7/1/20
£
**Unrestricted funds**
General fund
236,070
**TOTAL FUNDS**
236,070
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
117,858
**TOTAL FUNDS**
117,858|Net
movement
At
in funds
30/4/22
£
£
17,849
259,345
17,849
259,345
Resources
Movement
expended
in funds
£
£
(198,836)
17,849
(198,836)
17,849
Net
movement
At
in funds
30/4/21
£
£
5,426
241,496
5,426
241,496
Resources
Movement
expended
in funds
£
£
(112,432)
5,426
(112,432)
5,426| |---|---| Page 12 continued... **GOWERTON RUGBY FOOTBALL CLUB LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022** ## **16. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 April 2022. Page 13 **GOWERTON RUGBY FOOTBALL CLUB LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2022** |||PERIOD| |---|---|---| |||7/1/20| ||YEAR ENDED|TO| ||30/4/22|30/4/21| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations**||| |Donations|12,130|2,555| |Subscriptions|15,220|12,503| |Welsh Rugby Union annual grant|18,704|12,954| ||46,054|28,012| |**Other trading activities**||| |Bar and food sales|141,298|29,634| |**Investment income**||| |Deposit account interest|67|71| |**Other income**||| |Sundry income|7,653|7,673| |100 club|2,382|2,810| |Raffles and collections|4,517|65| |Functions|14,714|49,593| ||29,266|60,141| |**Total incoming resources**|216,685|117,858| |**EXPENDITURE**||| |**Other trading activities**||| |Opening work in progress|3,632|-| |Purchases|69,797|22,038| |Wages|38,183|29,038| |Closing stock|(6,565)|(3,632)| ||105,047|47,444| |**Establishment costs**||| |Cleaning|3,530|2,899| |Rates and water|449|91| |Light and heat|11,275|4,380| |Repairs and maintenance|2,073|13,878| ||17,327|21,248| |**Charitable costs**||| |**Rugby costs**||| |Wages|12,889|9,581| |Carried forward|12,889|9,581| This page does not form part of the statutory financial statements Page 14 **GOWERTON RUGBY FOOTBALL CLUB LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2022** |||PERIOD| |---|---|---| |||7/1/20| ||YEAR ENDED|TO| ||30/4/22|30/4/21| ||£|£| |**Rugby costs**||| |Brought forward|12,889|9,581| |Laundry|68|-| |Affiliation fees|25|25| |Playing equipment first aid and physio|7,036|359| |Travel, playing and coaching|10,422|1,883| |Ground expenses, gym hire and permits|6,547|5,367| |Sundry expenses|1,252|376| ||38,239|17,591| |**Administration costs**||| |Telephone and internet|461|455| |Printing, postage and stationery|1,070|1,325| |Entertainment|5,865|1,987| |Athletic Club levy|2,050|720| |Rugby equipment|(7,958)|-| |Fixtures and fittings|7,958|-| ||9,446|4,487| |**Depreciation of tangible fixed assets**||| |Freehold property|4,031|4,031| |Rugby equipment|1,724|2,299| |Fixtures and fittings|9,682|9,205| ||15,437|15,535| |**Finance costs**||| |Stocktaking fees|600|450| |Accountancy|5,300|3,400| |Legal and professional fees|1,598|1,444| |Bank interest|2,969|833| ||10,467|6,127| |**Taxation**||| |Corporation tax|2,873|-| |Total resources expended|198,836|112,432| |**Net income**|17,849|5,426| This page does not form part of the statutory financial statements Page 15