**Charity registration number 1197266 (England and Wales)** ## **STANMORE JAFFERYS CIO** # **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **STANMORE JAFFERYS CIO** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr S Merali|| |---|---|---| ||Ms S Chagpar|| ||Mr Z Khimji|| ||Mrs S Tharoo|| ||Dr W Fazel|| ||Ms A Poptani|| ||Mr I Govani|(Appointed 2 June 2024)| |**Charity number**|1197266|| |**Independent examiner**|TC Group|| ||First Floor Spitalfields House|| ||Stirling Way|| ||Borehamwood|| ||WD6 2FX|| |**Management Committee**|Mr S Merali|Head of Gents Sports| ||Dr W Fazel|Gents Vice Sports Lead| ||Mr A Momin|Gents Sports Secretary| ||Mr S Virjee|Gents Sports Assistant Secretary| ||Mr M Daya|Gents Sports Treasurer| ||Mr T Kanji|Gents Head Sports Coordinator| ||Mr M Datoo|Gents Head of PR & External Funding| ||Mrs A Poptani|Head of Ladies Sports| ||Mrs S Daya|Ladies Vice Sports Lead| ||Mrs A Merali|Ladies Sports Co-Secretary| ||Mrs S Merali|Ladies Sports Co-Secretary| ||Ms B Lalji|Ladies Sports Treasurer| ||Ms A Jaffer|Ladies Sports Assistant Treasurer| ## **STANMORE JAFFERYS CIO** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 6| |Independent examiner's report|7| |Statement of financial activities|8| |Balance sheet|9| |Notes to the financial statements|10 - 16| ## **STANMORE JAFFERYS CIO** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the association's constitution, the Charities Act 2011 and "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). ## **Objects, objectives and activities** The association's objectives are: 1. The promotion of community participation in healthy recreation for the benefit of the inhabitants of North London by the provision of facilities for playing sport. 2. To promote for the benefit of the inhabitants of North London and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants. 3. The promotion of religious harmony for the benefit of the public by: (but without prejudice to the generality of the foregoing): - Promoting knowledge and mutual understanding and respect of the beliefs and practices of different religious faiths. - Educating the public in different religious beliefs including an awareness of their distinctive features and their common ground primarily but not exclusively in the context of sport to promote good relations between persons of different faiths. 4. The prevention or relief of poverty by providing grants, items and services to individuals in need and/or charities, or other organisations working to prevent or relieve poverty. ## _Public benefit_ The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the association should undertake. ## **Achievements and performance** 2024 was a busy and productive year for Stanmore Jafferys with numerous activities taking place across the club. The club was also proud to officially acquire (on lease) its own facility – SJ Clubhouse. The procurement of SJ Clubhouse, which is based on the 2nd Floor of the WF House at Harefield, introduced an amazing space for social sports and youth activity in a safe space. We are grateful to the World Federation for giving us the space and once again showcasing the partnership between two organisations. - 1 - ## **STANMORE JAFFERYS CIO** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ The first quarter of the year swiftly commenced with the launch of the weekly sports schedule. Record attendances were captured following the fervour of the Unity Games – despite the Winter season. Strong interest was seen across gents, ladies and children’s sports. In May 2024 we held the AGM and the members re-elected Aiman Poptani as the Head of Ladies Sports & Safia Tharoo as the elected independent female Trustee. Aiman duly appointed Sabiha Chagpar to the Board of Trustees and appointed the new Ladies Management Committee. ## Fundraising WF Aid: For the first time, we changed our fund-raising strategy to now run across various sporting events & activities across the year – the main reason for this was to increase the exposure of the great social work we do as a club and keep the rhythm going through the year. The campaigns ran across: - Inaugural 3v3 Basketball Tournament - Ramadhan Sports Nights and Clubhouse Launch - Madressa AAWA Walkathon - The Big Half Marathon - Football Tournament Alhamdulillah with the support of the members and our wider community we successfully raised over the £72,000 target we set. The Madressa Walkathon, despite the weather, was an example of two separate community bodies combining resources together to deliver a fantastic event. The Madressa children walked around the fields, stopping to learn and commemorate the greatest of all sacrifices – The tragedy of Karbala - and the lessons we can learn from Imam Husayn and the Holy family. At the same time, the Madressa children raised an amazing £30,000 for the AAWA campaign. The funds went towards building a Tube Well in Pakistan which benefits 60,000 people every month. The Big Half which also supported the AAWA fund raising efforts attracted 100 runners from the club (70 gents & 30 ladies) – showcasing the hard work our running coordinators have put in over the years to increase awareness and the importance of physical exercise. ## **Gents Sports:** Another successful and ground-breaking year for the gents sports in 2024 which included the commencement and re-introduction of a racket sport as well as participation in several events. Key highlights indicated below: ## Inaugural 3v3 Basketball Tournament We hosted our first ever basketball tournament in February 2024. With the sport growing significantly at SJ, the time was ripe to host such a tournament which attracted over 30 players who, as part of combining sports with social good, raised funds for The World Federation’s Gaza Appeal. The tournament run by Reza Ladak and his team proved to be extremely successful with brilliant talent on show. ## Boys Football MAMT For the second year running, boys football MAMT took place in Milton Keynes. We had 172 SJ players representing the club across 26 teams. It was a memorable day of football where our players showcased their technical ability, tactical awareness and collective spirit; making the entire club immensely proud. As a club, we made 6 of the 7 finals, winning 4 of these. A fantastic achievement from the football section and a lot of hard work put in by the coordinators and coaches paid off! ## Cricket Bonanza Another successful cricket season came to an end with the showpiece event taking place at Kenton CC. This was the 4th edition of the cricket bonanza, however it was also a sombre occasion as we remembered our dear brother Marhum Abbas Bandali who had sadly passed away in January 2024. We had teams from Birmingham and Leicester as well as two Stanmore teams participating. The final was played between Stanmore and Birmingham, with Birmingham prevailing in a nail biting run chase and clinching the trophy. Overall, the day was a fitting tribute to a legend of SJ. - 2 - ## **STANMORE JAFFERYS CIO** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## Community Cup A Stanmore Jafferys flagship event successfully hosted its 5th Edition in June 2024. A record 154 participants came together to truly showcase the spirit of Stanmore Jafferys. The players were divided into 14 equally balanced teams which meant we witnessed competitive games played in the spirit of community and brotherhood. Mohammed Valjy (Uncle Mo) and his team once again put on a super show and their tireless efforts never go unnoticed. ## Squash After a hiatus of a couple of years, we were extremely pleased to re-launch the SJ Squash sessions which take place on Tuesday evenings at RMS in Rickmansworth. Malik Ali Khan was announced as the new coordinator bringing an unrivalled passion for the sport. In other news, and as is the norm, we reached the end of the cycle for coordinators across various sports with new members replacing them, thus ensuring continuity across the club and maintaining the high standards that we continue to thrive to offer our members: - Raza Jaffery stepped down as football coordinator after two years at the helm. Murtaza Janmohamed has taken over the mantle and brings his passion for the sport and our youth to the fore – the new team was in place by the summer of 2024 and have carried on the work set up by Reza and his predecessors. - Mumtaz Kassam stepped down as seniors coordinator, after six very successful years. Mumtaz uncle stepped back from his position from 1st October. Mumtaz uncle has been a dedicated SJ volunteer with his history at SJ stretching back to 1996. Bashir Ladha has taken over as the new head and continues to deliver a fantastic service for our beloved seniors. - Sadiq Merchant stepped down as table tennis head. Sadiq led table tennis for two years and delivered an amazing service for our members, including the transition of TT to the Clubhouse and assisting in acquiring our own equipment to make TT more accessible to our community members. Akhtar Jaffer has taken over and continues to grow the sport. - Nadim Kapadia also bid farewell in his role as running coordinator. Nadim’s tenure saw the continued growth of running within the community with a record 100 members participating in the Big Half marathon. Nadim together with his team provided a truly 5-star service to our members. Ali Panju has taken over and brings with him a new team with fresh ideas. We would like to thank all our past coordinators for the great work and services they have provided to the club and its members. Their dedication, selflessness, sacrifice and love for the club knows no bounds, We pray Allah (S.W.T) blesses them and their families abundantly for their service. ## **Ladies Sports:** 2024 was a year of change, growth and empowerment for SJ ladies. Since the election of our new ladies head and consequently the new Executive Committee in May 2024, the ladies sports club has seen incredible momentum, growth and community engagement. ## Expanding the sports horizon This year, we proudly introduced new sports including table tennis, rounders, basketball and strength training, adding variety and fresh energy to our already diverse offering. We also held a course of prenatal yoga sessions and will be introducing pickleball in 2025 as another new sport. We reintroduced girls' badminton at Rickmansworth School, which was met with fantastic enthusiasm. We also held various events across our weekly sports calendar including the annual seniors sports day, the inaugural SJ Netball League, the ‘Run in Rajab’ challenge, tennis coaching for girls and ladies, ‘Battle of the Homelands’ netball tournament, the 2nd edition of glow in the dark volleyball and the Dahwul Ardh Walk & Clean the Earth event in collaboration with Al-Haadi Youth. ## Accessibility & inclusion To keep our offering open to all, we froze our pay-as-you-go prices and launched December & January promotional sales heavily discounting all our sessions to boost participation and make sports even more accessible for our community. We saw many new SJ members try our sessions and continue to participate over the course of the year. - 3 - ## **STANMORE JAFFERYS CIO** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## Community spirit during Ramadhan Ramadhan was buzzing with energy as we hosted our Ramadhan Sports Night at Harrow Leisure Centre once again—a memorable evening of fitness and friendship. We also held our annual Ramadhan volleyball and throwball night as well as holding multiple fitness sessions after the mosque programme throughout the month. All of our Ramadhan initiatives raised funds for World Federation’s Gaza Appeal. The month also saw the launch of our SJ clubhouse with a ladies-only social event being a standout moment. Since then, we've hosted monthly social gatherings, creating a warm, welcoming space that's become a favourite among both ladies and girls. ## Competitive brilliance at MAMT In May 2024, SJ proudly hosted Ladies & Girls MAMT for the first time since 2016. The event was held over 3 days and the engagement from our community was fantastic in welcoming other Jamaats and providing a warm atmosphere. Our teams excelled—sweeping all youth football and netball categories, with just one runner-up finish in the 7–9s football bracket. The 16+ ladies football team also shone brightly, securing runner-up status in a fiercely contested competition. ## Marhaba – A Festival of Sport (Rackets) Our Marhaba event was, once again, a spectacular success, setting a new record for participants and matches played. Into its 5th year, the atmosphere was electric and full of joy & sisterhood with 380 participants and over 200 spectators joining in on the weekend which was by far our largest Marhaba to date. Over 1000 games were played across 34 competitions and we can’t wait to host our flagship event again in September 2025. – The Big Half & Vitality London 10,000 Big participation We were super proud of the phenomenal number of 30 ladies who took part in the Big Half and Vitality London 10k in September 2024. Their dedication and spirit and commitment to training was inspiring, allowing them to complete a major running competition, making way for the London Marathon in 2025. What a year it’s been! A heartfelt thank you to every participant, volunteer, and supporter who helped make 2024 a landmark year for the ladies sports club. Here’s to building an even stronger, more inclusive community in 2025! ## **Financial review** The total funds received during the period was £304,670 (2023: £381,455). The membership income and sponsorships accounted for approximately 20% of total income. The total funds expended during the period was £299,637 (2023: £380,942). The Statement of Financial Activities for the period shows a net surplus of £5,033 (2023: £513). The charity did not receive or hold any restricted income during the reporting period. All income and expenditure were related to unrestricted funds. We are grateful to the members, partners, sponsors and donors who have continued to support the club financially during this difficult year and we have taken this into account in continuing to provide sports and activities at subsidised rates for the year 2025 where possible. ## Reserves policy: It is the policy of the association that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three months operational expenditure, which amounts to £9,000. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the association’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. - 4 - ## **STANMORE JAFFERYS CIO** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **Plans for future periods** The trustees of the club are conscious of the rising costs of living and as part of the club’s ethos whereby we strive to offer best in class services at affordable prices for our members, we decided to freeze the PAYG prices for 2025 particularly for sporting activities offered to our u16s. However, as a club, we also need to be sustainable and, in a position, to absorb the rising costs of venues and other services. Therefore the Annual Membership rates were increased by £5 for both Ladies and Gents Adults members for 2025. This decision was taken in line with the budget spend for 2025 to enable the club to run without significant financial pressures. We also have exciting plans for the Clubhouse which we will Inshallah reveal during Q3 2025, these include refurbishment and increasing the activities on offer together with installing a permanent AV system which enhances the ability to rent out the facility to generate income for the club. From a sporting activity perspective, the club has big plans for 2025 with 6 Major events taking place, on top of our usual offerings. They are: 1. London Marathon 2. AAWA Fundraiser & Collaboration with Shia Ithna Asheri Madressa (SIM) 3. Salaam Cup (Returning after 6 years) 4. Community Cup (6th Edition) 5. Marhaba x MAMT (Ladies Rackets festival) 6. SJRS x MAMT (Gents Rackets Festival) ## **Structure, governance and management** The association is governed by the constitution and was recognised by the Charities commission as a Charitable Incorporated Organisation (CIO) on 21st December 2021. The trustees of Stanmore Jafferys CIO, acting as a board, carry the responsibility of complying with the requirements of the constitution. The trustees meet quarterly and defer operational details and day to day management of the club to the management committee which meets more regularly. The trustees who served during the year and up to the date of signature of the financial statements were: Mr S Merali Ms S Chagpar Mr Z Khimji Mrs S Tharoo Dr W Fazel Mrs S Harji (Resigned 2 May 2024) Mr S Hamir (Resigned 2 June 2024) Ms A Poptani Mr I Govani (Appointed 2 June 2024) Additional trustees may be appointed by the members or at the discretion of the trustees in accordance with the constitution. At any one time there must be a minimum of seven trustees and a maximum of twelve trustees. None of the trustees has any beneficial interest in the CIO. Training is provided to all trustees as required. This is either obtained by the trustees in their professional capacity and/or attending seminars and reading Charity Commission's publications. ## _Risk management_ The trustees have assessed the major risks to which the association is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. - 5 - ## **STANMORE JAFFERYS CIO** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ The trustees' report was approved by the Board of Trustees. Mr S Merali **Trustee** Ms S Chagpar **Trustee** 1 May 2025 - 6 - ## **STANMORE JAFFERYS CIO** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STANMORE JAFFERYS CIO** I report to the trustees on my examination of the financial statements of Stanmore Jafferys CIO (the association) for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the trustees of the association you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the association’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. ## **Independent examiner's statement** Since the association’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. 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 that in any material respect: - 1 accounting records were not kept in respect of the association as required by section 130 of the Charities Act 2011. - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached. ## **Sadikali G Premji (FCCA) TC Group** First Floor Spitalfields House Stirling Way Borehamwood WD6 2FX Dated: 1 May 2025 - 7 - ## **STANMORE JAFFERYS CIO** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |||**Unrestricted**|**Unrestricted**|**Unrestricted**|**Unrestricted**| |---|---|---|---|---|---| ||||**funds**||**funds**| ||||**2024**||**2023**| ||**Notes**||**£**||**£**| |**Income from:**|||||| |Donations and legacies|**3**||96,408||116,244| |Charitable activities|**4**||208,154||265,211| |Investments|**5**||108||-| ||||||| |**Total income**|||304,670||381,455| ||||||| ||||||| |**Expenditure on:**|||||| |Raising funds|**6**||5,525||2,630| |Charitable activities|**7**||294,112||378,312| ||||||| |**Total expenditure**|||299,637||380,942| ||||||| |**Net income and movement in funds**|||5,033||513| |**Reconciliation of funds:**|||||| |Fund balances at 1 January 2024|||11,718||11,205| ||||||| |**Fund balances at 31 December 2024**|||16,751||11,718| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 8 - ## **STANMORE JAFFERYS CIO** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2024**_ |||**2024**||**2023**|| |---|---|---|---|---|---| ||**Notes**|**£**|**£**|**£**|**£**| |**Current assets**|||||| |Debtors|**13**|3,829||3,061|| |Cash at bank and in hand||24,089||86,542|| ||||||| |||27,918||89,603|| |**Creditors: amounts falling due within**|**14**||||| |**one year**|(11,167)|||(77,885)|| ||||||| |**Net current assets**|||16,751||11,718| ||||||| ||||||| |**The funds of the association**|||||| |Unrestricted funds|**15**||16,751||11,718| ||||||| ||||16,751||11,718| ||||||| ||||||| |The financial statements were approved by the trustees on 1 May 2025|||||| |Mr S Merali|Ms S Chagpar||||| |**Trustee**|**Trustee**||||| - 9 - ## **STANMORE JAFFERYS CIO** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **Charity information** Stanmore Jafferys CIO is a CIO with the objective of promoting community participation in healthy recreation for the benefit of the inhabitants of North London by the provision of facilities for playing sport. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the association's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The association is a Public Benefit Entity as defined by FRS 102. The association has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the association. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the association has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the association. ## **1.4 Income** Income is recognised when the association is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the association has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the association has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 10 - ## **STANMORE JAFFERYS CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.6 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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.7 Financial instruments** The association has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the association's balance sheet when the association becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including 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. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the association’s contractual obligations expire or are discharged or cancelled. - 11 - ## **STANMORE JAFFERYS CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** **(Continued)** ## **1.8 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the association is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **2 Critical accounting estimates and judgements** In the application of the association’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Income from donations and legacies** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Donations and gifts|36,655|46,213| |Membership income and sponsorships|59,753|70,031| |||| ||96,408|116,244| - 12 - ## ||**Total**|||**2023**|**£**|265,211||||265,211| |---|---|---|---|---|---|---|---|---|---|---| |||||||||||| ||**AAWA**|**Income**||**2023**|**£**|60,195||||60,195| |||||||||||| ||**Weekly**|**Sports &**|**Events**|**2023**|**£**|205,016||||205,016| ||**Total**|||**2024**|**£**|208,154||||208,154| |||||||||||| ||
**Clubhouse**|**Income**||**2024**|**£**|3,745||||3,745| ||**AAWA**|**Income**||**2024**|**£**|73,063||||73,063| |||||||||||| ||**Weekly**|**Sports &**|**Events**|**2024**|**£**|131,346||||131,346| |**Income from charitable activities**||||||Income from charitable activities|||**Analysis by fund**|Unrestricted funds| |**4**||||||||||| ## **STANMORE JAFFERYS CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **5 Income from investments** |||**Unrestricted**|**Unrestricted**|**Unrestricted**|**Unrestricted**| |---|---|---|---|---|---| ||||**funds**||**funds**| ||||**2024**||**2023**| ||||**£**||**£**| ||Interest receivable||108||-| ||||||| ||||||| |**6**|**Expenditure on raising funds**||||| |||**Unrestricted**||**Unrestricted**|| ||||**funds**||**funds**| ||||**2024**||**2023**| ||||**£**||**£**| ||**Fundraising and publicity**||||| ||Advertising||5,525||2,630| ||||||| ||||||| |**7**|**Expenditure on charitable activities**||||| |||**Charitable**||
**Charitable**|| |||**activities**||**activities**|| ||||**2024**||**2023**| ||||**£**||**£**| ||**Direct costs**||||| ||Weekly Sports & Events||49,837||112,517| ||Venue Hire||84,440||97,471| ||Equipment & Kit Purchase||44,761||63,697| ||AAWA Expense||73,564||60,195| ||Clubhouse Expenses||3,425||-| ||||||| ||||256,027||333,880| ||**Share of support and governance costs (see note 8)**||||| ||Support||37,085||43,432| ||Governance||1,000||1,000| ||||||| ||||294,112||378,312| ||||||| ||||||| ||**Analysis by fund**||||| ||Unrestricted funds||294,112||378,312| - 14 - ## **STANMORE JAFFERYS CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **8 Support costs allocated to activities** |**8**|**Support costs allocated to activities**|||| |---|---|---|---|---| |||**2024**||**2023**| |||**£**||**£**| ||Catering|17,981||19,041| ||IT Software & Consumables|6,796||8,477| ||Website costs and marketing|5,868||7,017| ||Insurance|2,117||1,952| ||Workshops, Education & Training - Tutor/Seminar costs|-||885| ||Professional registrations/subscriptions|-||60| ||Other admin expenses|1,824||2,120| ||Bank charges|65||3,880| ||Travel|2,434||-| ||Governance costs|1,000||1,000| |||||| |||38,085||44,432| |||||| |||||| ||**Analysed between:**|||| ||Charitable activities|38,085||44,432| |||||| |||||| |**9**|**Net movement in funds**|**2024**||**2023**| |||**£**||**£**| ||The net movement in funds is stated after charging/(crediting):|||| ||Fees payable for the independent examination of the charity's financial|||| ||statements|1,000||1,000| ## **10 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the association during the year. ## **11 Employees** The average monthly number of employees during the year was: ||**2024**|**2023**| |---|---|---| ||**Number**|**Number**| |Total|-|-| There were no employees whose annual remuneration was more than £60,000. ## **12 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 15 - ## **STANMORE JAFFERYS CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **13 Debtors** |**Debtors**||| |---|---|---| ||**2024**|**2023**| |**Amounts falling due within one year:**|**£**|**£**| |Other debtors|350|670| |Prepayments and accrued income|3,479|2,391| |||| ||3,829|3,061| ## **14 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| ||**2024**|**2023**| ||**£**|**£**| |Other creditors|-|60,195| |Accruals and deferred income|11,167|17,690| |||| ||11,167|77,885| ## **15 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At 1 January**|**At 1 January**|
**Incoming**|
**Incoming**|
**Resources**|
**Resources**|
**At 31**| |---|---|---|---|---|---|---|---| |||**2024**|**resources**||**expended**||**December**| ||||||||**2024**| |||**£**||**£**||**£**|**£**| |General funds||11,718||304,670|(299,637)
16,751||| ||||||||| ||||||||| |**Previous year:**|**At 1 January**||
**Incoming**||
**Resources**||
**At 31**| |||**2023**|**resources**||**expended**||**December**| ||||||||**2023**| |||**£**||**£**||**£**|**£**| |General funds||11,205||381,455|(380,942)
11,718||| ## **16 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 16 -