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2022-12-31-accounts

THE HURLINGHAM CLUB FOUNDATION

FINANCIAL STATEMENTS AND INDEPENDENT EXAMINATION FOR THE PERIOD 26 AUGUST 2021 TO 31 DECEMBER 2022

Registered Charity Number: 1195642

THE HURLINGHAM CLUB FOUNDATION

TRUSTEES’ REPORT

The Trustees present their first report and accounts for the period from 26 August 2021 to 31 December 2022.

The accounts have been prepared in accordance with the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS102), the Charities Act 2011 and the charity’s governing document.

BOARD OF TRUSTEES

Piers Wilson Jamie Crookenden Paul Denza Victoria Hornby Katarina Roele John Shuffrey (appointed 11 July 2023)

REGISTERED CHARITY NUMBER 1195642 ADDRESS AND REGISTERED OFFICE The Hurlingham Club, Ranelagh Gardens, London SW6 3PR

ADVISORS Independent Examiner Thomas Wilson Haysmacintyre LLP 10 Queen Street Place, London EC4R 1AG Bankers Coutts 440 Strand, London WC2R 0QS Solicitors Stone King LLP Boundary House, 91 Charterhouse St, London EC1M 6HR

STRUCTURE, GOVERNANCE AND MANAGEMENT

Board of Trustees

The Board of Trustees is responsible for determining the overall strategy of the Charity and for monitoring its activities and financial position. The Trustees support the principles and procedures of good corporate governance as set out in the Combined Code published by the Financial Reporting Council. No trustees are remunerated for their role, nor received any compensation for out of pocket expenses in the period.

Status and Administration

Since its inception, the Hurlingham Club Foundation (“the Foundation”) has been managed by the trustee board with operational activities delivered by a Foundation Manager. This position is funded by The Hurlingham Club (“THC”), which also provides administrative support at no cost to the Foundation. No grants were made in the period, however, the Charity is drafting a grant giving policy for potential future grant giving.

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Relationship with The Hurlingham Club

The Foundation and the Hurlingham Club (“THC”) have entered into a Shared Resources Agreement and License (the “Agreement”). The Agreement confirms the support and services that THC will provide to the Foundation for no charge which primarily consist of employing and funding a part time Foundation Manager plus associated costs such as provision of office space, IT equipment, printing and financial accounting services. Any other additional and out of pocket expenses incurred by THC, are with the prior agreement of the Foundation, charged to the Foundation. The Agreement also includes the grant of a License for the Foundation to use THC’s logo and trademarks.

Recruitment and training of Trustees

The Trustees have due regard to the skills required to manage the assets held by the Foundation and its activities. In 2023, the Foundation undertook a skills analysis to understand better what additional skills and experience were desired. As a result of this review, an additional trustee joined the board in 2023. Appropriate training and induction are provided to any new Trustees.

Principal Risks and Risk Management

The Trustees have assessed the major risks to which the Foundation is exposed and are satisfied that systems are in place to mitigate exposure to such risks. The Charity has a formal Safeguarding policy and works with the Safeguarding Officer at the Hurlingham Club to ensure compliance with relevant legislation and best practice is followed. The Foundation maintains a risk register that is reviewed and updated regularly to remain on top of any new or potential risks.

Public Benefit

The Trustees confirm they are aware of and have referred to the guidance from the Charity Commission on public benefit and complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Commission’s public benefit guidance when reviewing the Foundations aims, objectives and future activities.

OBJECTIVES AND ACTIVITIES

About the Foundation

The Foundation was established in August 2021, and is structured as a Community Interest Organisation, registered with the Charity Commission: Charity Number – 1195642. The charity has ambitious plans to deliver a significant and sustainable impact for local people, schools, and community organisations across the London Borough of Hammersmith & Fulham (“LBH&F”). This annual report covers the period from August 2021 to December 2022.

Principal Activity

The Hurlingham Club Foundation’s main activities are to support residents of the LBH&F and Greater London by arranging activities to improve their physical, social, and mental well-being. It arranges on-site activities at THC and the community in partnership with local non-profit organisations. Key target groups will be children aged 0-15 years and elderlypeople.

Objectives

  1. Build a strong Foundation that allows us to better listen to and connect with the community.

  2. Increase community support through meaningful volunteering and charitable giving opportunities.

  3. Develop sustainable partnerships that are embedded within the community.

  4. Deliver activities that support the physical, social, and mental well-being of those most in need.

The Foundation works towards its objectives by continuing to deliver projects that utilise the Club’s staff and member volunteering resources; the monetary donations of members; the Club’s facilities; and by working with the community partners. The charitable objectives have been overseen by a board of Trustees who support the work of a paid staff member to ensure that the strategy can be implemented.

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The Beneficiaries and Activities of the Foundation

The people who have been helped since the Foundation was established are mostly people from the local community in LBH&F who have identified needs or are suffering from financial hardship. Based on research, our efforts have concentrated on work supporting children and the elderly in our local community.

The work with the elderly has focused on on-site activities at THC to reduce isolation, improve mental and physical health and support access to other local services that reduce poverty and improve their lives. This year Fulham Good Neighbours and Dance West were the partners in providing visits to the club for socially isolated older people. The work with Fulham Good Neighbours commenced in 2022 with two visits during the year and 16 people benefitting.

The work with Dance West helped provide complimentary tickets for a group of older women from their “Bolder Not Older” dance sessions to come to the Club for the annual Hurlingham Festival and watch dance royalty from Strictly Come Dancing perform a star-studded show. This was enjoyed by all of those who attended.

120 kilograms of turkey were donated to the LBH&F Christmas Dinner that took place on Christmas Day in 2022 for older people who were likely to be spending the day alone. Over 270 people attended and benefitted from the food donations on the day. It has been agreed to continue this support over the coming years.

A strategy has been devised to partner with Fulham Good Neighbours, Dance West, Fulham FC Foundation, LBH&F, and the Dementia Action Alliance to provide further opportunities for elderly residents to improve their mental and physical health.

The work with children is primarily delivered by working with SEAPIA (Sands End Associated Projects in Action) and local schools to provide children with opportunities to learn and improve their physical and mental health.

In 2022, 50 children came on-site weekly to participate in squash and tennis coaching initiatives to support their physical health and well-being.

60 children also attended weekly to use THC’s basketball courts and adventure playground for their PE lessons. This also met a need for local state primary schools needing help finding appropriate PE facilities. To help address this issue, facilities were provided to support two schools to compete in a cricket match and another school to hold its annual sports day.

Many children participating in sports activities also enjoyed a hot meal on-site in the staff canteen before going home, an added benefit offered during this cost-of-living crisis. During the initial work period, 570 hot meals and food parcels were gifted to the local community, either on-site or via SEAPIA.

In November 2022, children were invited to the Club’s weekly tennis sessions to meet Tim Henman on-site. This proved to be highly inspirational to all children involved, with one young girl stating:

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“Tim has inspired all of us to pursue our dreams, and even if we find it difficult, to keep on trying.”

FINANCIAL REVIEW

The Foundation was registered with the Charity Commission on 26 August 2021 and commenced activities from that date. In the period to 31 December 2022, the total income generated was £81,669.

The income was primarily from donations and funds raised from THC members and a one-off contribution from THC community and charity fund. Income was also generated through auctions and raffles at Club events, which were very successful. As a result of lessons learnt throughout this period, a new three-year budget and action plan were developed to ensure the first year’s success continues and can be built on. We plan to diversify our fundraising portfolio and see income come from the following sources:

THC has significantly supported the Foundation since it was established to ensure as much as possible of the funds generated are spent on delivering charitable activities by keeping administration and staff costs down. THC fully funded the salary of the part time Foundation Manager in the period and has committed to provide a similar level of financial support through to at least the end of 2025.

The total Foundation expenditure in the period amounted to £53,234. The net surplus for the period was £28,434 Due to this being the first reporting period, the closing net assets position of the Foundation was the same as the net surplus.

OPERATIONAL REVIEW

In the first full year of operation, as set out in more detail above, our key achievements included:

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RESERVES POLICY

The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to at least three months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds available to cover support and governance costs. The Charity’s level of reserves at 31 December 2022 was £28,434.

FUTURE AMBITIONS

The Foundation has a three-year strategy and delivery plan approved by the Trustees, to provide a clear direction for staff and community partners. The Trustee’s vision is that the Hurlingham Club Foundation is integral to a thriving and connected community. Our mission is to enable our community to access opportunities and spaces that improve well-being and life chances.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the charity’s state of affairs and the charity’s income and expenditure for that period in preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the CIO Constitution dated 26 August 2021. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps to prevent and detect fraud and other irregularities.

Signed on behalf of the Trustees:

………….………………….. Piers Wilson Trustee

Date: 25 October 2023

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THE HURLINGHAM CLUB FOUNDATION

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE HURLINGHAM FOUNDATION

I report to the Trustees on my examination of the accounts of The Hurlingham Club Foundation for the period ended 31 December 2022, which are set out on pages 6 to 12.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). The trustees are satisfied that this year’s audit is not required under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen to have an independent examination instead.

I report regarding my examination of the Trust’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination, I have followed the requirements of the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I can confirm that I am qualified to undertake the examination because I am a registered member of the ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do 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.

Tom Wilson FCA Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG

Date: 25/10/23

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THE HURLINGAM CLUB FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

PERIOD ENDED 31 DECEMBER 2022

Notes
Income:
Grants and Donations
2
Other income
Total Income
Expenditure on charitable Activities:
Support costs
3
Direct expenses
3
Total Expenditure
Net Income/(expenditure) for the year
Transfer between funds
Reconciliation of Funds
Opening Balance as at 26 August 2021
Balance carried forward as at 31 December 2022		 Unrestricted
Funds
Restricted
Funds
Total
£
£
£
43,166 16,820 59,986
21,683
21,683
64,849 16,820 81,669
(8,381)
-
(8,381)
(27,794)
(17,059)
(44,853)
(36,175)
(17,059)
(53,234)
28,673
(239)
28,434
(239)
239 -
- - -
28,434 - 28,434

During the year, there were restricted and unrestricted funds.

The accompanying notes form part of these accounts.

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THE HURLINGAM CLUB FOUNDATION

BALANCE SHEET

AS AT 31 DECEMBER 2022

CURRENT ASSETS
Cash & Bank
Debtors
5
CURRENT LIABILITIES
Trade Creditors
6
Accruals
6
NET CURRENT ASSETS
TOTAL NET ASSETS
Unrestricted Funds
General		 2022
£
31,754
110
(1,577)
(1,853)
28,434
28,434
28,434

The financial statements were approved and authorised for issue by the Board of Trustees on and were signed below on its behalf by:

17 October 2023

…………………………………… Piers Wilson Trustee

The accompanying notes form part of these accounts.

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THE HURLINGAM CLUB FOUNDATION

NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Practice applicable in the UK and Republic of Ireland (FRS 102) second edition effective 1 January 2019.

The functional currency of the Charity is considered to be GBP because that is the currency of the primary economic environment in which the Charity operates.

a) Basis of preparation

The accounts are prepared under the historical cost convention.

b) Going concern

The Trustees have a reasonable expectation that the Charity has adequate resources to continue its activities for at least twelve months from the date of signature of these Accounts and consider that there were no material uncertainties over Charity’s financial viability. Accordingly, they adopt the going concern basis in preparing the financial statements as outlined in the Statement of Trustees’ Responsibilities on page 6.

c) Critical accounting judgements and key sources of estimation uncertainty

In applying the accounting policies, Trustees are required to make judgments, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects current and future periods.

In the trustees’ view, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date will likely result in a material adjustment to their carrying amounts in the next financial year. The Foundation qualifies as a small charity under the Charities SORP. A cash flow statement is, therefore, not required.

d) Debtors

Short-term debtors are measured at transaction price, less any impairment.

e) Cash at the bank and in hand

Cash comprises solely cash at the bank.

f) Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party. The amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.

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THE HURLINGAM CLUB FOUNDATION

NOTES TO THE ACCOUNTS (Continued)

g) Income recognition

All income is only recognised once the charity has an entitlement to the income, it is probable that income will be received, and the amount of income receivable can be measured reliably.

h)

Expenditure recognition

Charitable expenditure is accounted for on an accrual basis and categorised on a functional basis. Charitable expenditure relates to costs incurred in delivering the Charity’s activities and services to its beneficiaries.

The costs of raising funds are those incurred to raise voluntary income and the costs of trading activities for raising funds.

Governance costs represent the costs of running the Charity and meeting other statutory obligations.

i)

Financial Instruments

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised 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 payables, 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 receipts discounted at a market rate of interest.

k)

Funds

Unrestricted general funds are reserves available for use at the discretion of the trustees in furtherance of the objects of the charity.

The Foundation may also hold Restricted funds. Restrictions arise when the donor specifies, or funds are raised for a specific purpose.

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THE HURLINGAM CLUB FOUNDATION

NOTES TO THE ACCOUNTS (Continued)

2.
Income
Unrestricted income
Donations
Fundraising Activities
Other Charities
Merchandise
Restricted Income
Fundraising Activities
Total Income
3.
Resources Expended
Administration
Bank Charges
Website
Professional Fees
Direct Expenses
Community Projects
Food boxes
Ukraine Fundraising donation
Total Expenditure
4.
Debtors
Total Debtors		 2022
£
43,166
18,163
2,825
695
64,849
16,820
81,669
2022
£
5,148
683
750
1,800
8,381
23,749
4,045
17,059
44,853
53,234
2022
£
110

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5.
Creditors
Accruals
Independent Examination Fee
Other
Trade Creditors
Total Creditors
6.
Movement in Funds
Unrestricted Funds
Restricted Funds
Ukraine Fundraising
Movement in Period		 2022
£
1,800
53
1,853
1,577
3,430
2022
Fund
Balance
B/F
Net Income/
(Expenditure)
Transfers
Fund
Balance
C/F
£
£
£
£
-
28,673
(239)
28,434
-
(239)
239
-
-
28,434
-
28,434

7. Staff Costs

There were no employees during the period.

8. Trustees’ Remuneration and expenses

The aggregate amount of reimbursed expenses paid to Trustees was £Nil.

9. Related parties

During the period there were transactions between the Foundation and the Hurlingham Club under the terms of the Agreement between the two parties described on page 3. At the period end there were no outstanding balances between the Foundation and the Hurlingham Club.

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