2025-09-30-accounts

Charity number: 1202463

THE SPENCER CLUB

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

THE SPENCER CLUB

CONTENTS

	Page
Reference and administrative details of the Charity, its Trustees and advisers	1
Trustees' report	2 - 6
Independent examiner's report	7 - 8
Statement of financial activities	9
Balance sheet	10
Notes to the financial statements	11 - 25

THE SPENCER CLUB

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2025

Trustees

M Hyde, Chair

N Newbold, Secretary

J Turner, Treasurer

C Graham

P-A Johnsen

S Marsh A Stanton

Y Thomas B C Thompson

Charity registered number

1202463

Principal office

The Spencer Sports Club Fieldview London SW18 3HF

Independent examiner

Baldwin Scofield Ltd Chartered Accountants Statutory auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU

Bankers

Lloyds Bank

Solicitors

Herrington Carmichael

Page 1

THE SPENCER CLUB

TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025

The Trustees present their report and independently reviewed financial statements for the twelve months ended 30 September 2025. These are the first full year trading accounts. Note that although the Charity was registered on 23 March 2023 (and filed dormant accounts for the period ending 30 September 2023) it only became operational with effect from 1 January 2024 when the business and assets of the Club then operating as a Community Amateur Sports Club were transferred to the Charity.

Objectives and activities

 Policies and objectives

The objects of the Charity as set out in its constitution are :

The promotion of community participation in healthy recreation by the provision or assistance in the provision of facilities for the playing of cricket, hockey, lacrosse, netball, squash and tennis.

The Charity is therefore an umbrella organisation for its six constituent sports sections each of which are in turn operated independently. Whilst, therefore, each constituent sports section has its own constitution and rules, under the Charity’s own Rules and Byelaws the constituent sports sections are required to have regard to the minimum standards that contribute to the ethos of the Charity as outlined in its Vision and Mission Statement. The Charity’s Rules also provide that it values openness, respect, pride, fairness and enjoyment of sport whilst promoting a community spirit. In turn the Rules also provide that the Charity shall support the constituent sports sections to encourage and promote participation in sport and its development within the local community in line with its Equity Statement.

During the year under review, two of the constituent sports sections, Cricket and Tennis, have themselves converted to charitable incorporated organisations and, therefore, now have their own charitable objectives to pursue.

The total collective membership of the six constituent sports sections is in excess of 4,000 and it is only constraining factors such as governing body number limitations, limited playing areas and health and safety considerations which prevent this figure from being exceeded. In several areas sport at both senior and junior levels within the constituent sports sections is played to a very high standard such that, for example, both the senior mens and womens Hockey teams play at National League level and a squash junior member is a national age group champion.

Whilst excellence in sport is an important consideration for the Charity this in no way detracts from the very important ethos of “sport for all“ which is a key element for all the constituent sports sections, and thus sports memberships are open to all regardless of age and/or sporting ability. Equally importantly, each of the constituent sports sections are at pains to ensure that bursaries are available so that those individuals who are not able to pay membership dues are not prevented from becoming members.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 2

THE SPENCER CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Objectives and activities (continued)

 How our activities deliver public benefit

The Charity has a long lease of the premises it occupies and a major area of focus is maintenance of its sports facilities comprising an extensive cricket square, cricket outfield and lacrosse pitches,10 tennis courts, 2 squash courts, an indoor cricket net and 6 outdoor cricket nets. The Charity’s facilities are adjacent to the off-site sports facilities of a local state school, Ashcroft Technology Academy (“ATA”) and the Charity is responsible for the maintenance and upkeep of these facilities and for renting them out on ATA’s behalf to other schools and local sporting bodies. As ever, the Charity faces the constant challenge of striving to achieve the right balance between, on the one hand maintaining the long-term quality of the playing facilities and on the other hand maximising their availability for use by members and the wider community.

Community engagement is very important to the Charity and each of the constituent sports sections are very much focused on this issue. In the case of Hockey they are closely associated with Spencer Lynx Outreach Hockey Club (a charity in its own right) that offers free training in the form of a two year programme for children from local state schools. In the case of Cricket in 2023 it established Spencer One to increase the number of state primary and secondary school students playing cricket with a threefold strategy; providing coaching and development in schools, awarding financial and other assistance and providing a warm welcome to Spencer.

During the period covering this Report the following are examples of outreach undertaken by the constituent sports sections of the Charity :

• In the case of Cricket, though its outreach initiative Spencer One, it has delivered over 700 hours of targeted outreach, including school coaching, community events, support accessing bursaries and the provision of second life equipment and kit. In the summer 846 young people from 42 nearby schools visited the Club, alongside teachers attending coach education sessions. Spencer Cricket also hosted state school fixtures and provided facilities for the Surrey Academic Cricket Scholars programme.

• In the case of Hockey members are very closely involved the Spencer Lynx outreach programme detailed above.

• In the case of Lacrosse the sport continues to be introduced in 11 local state schools enabling pupils to experience a new sport on a regular timetabled basis.

• In the case of Netball the Club’s director of Netball and other coaches continue to support delivery of netball in a number of local state schools and Netball encourages its members to participate in the Duke of Edinburgh awards scheme. In addition Netball leads and supports netball festivals hosted by the Wandsworth Council schools games organiser by encouraging sports leaders to take ownership of future festivals planning as well as umpiring and delivering fun netball workshops for festival participants.

• In the case of Tennis there is a strong commitment to making tennis as accessible as possible. Thus the section hosts regular school holiday camps for children aged 4 to 18 and a regular supervised Friday after school tennis and social session for which membership is not a requirement. Tennis has also extended its community relationships through arrangements with local state schools to use our courts and facilities during the summer term.

Achievements and performance

 Main achievements of the Charity

These are the first full year trading accounts prepared for The Spencer Club under its recently established status as a Charitable Incorporated Organisation and cover the one year period 1 October 2024 to 30 September 2025.

Page 3

THE SPENCER CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Achievements and performance (continued)

 Principal funding sources

The Charity derives its funding from three principal sources. Firstly, each of the constituent sports sections make annual financial contributions, paid quarterly, towards the running of the Charity under a formula agreed by the Trustees of the Charity. Secondly, the Charity lets out its facilities and neighbouring facilities which it operates on behalf of a local school to local schools and sports club. Thirdly, the Charity has a wholly owned trading subsidiary which runs the Club’s bar and catering facilities since such activities are not within the Charity’s primary purposes. However, under the applicable rules at the end of each financial year the trading subsidiary is able to donate its net profit to the Charity free of any tax charge.

Financial review

 Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

 Reserves and investment

The Charity has clearly defined policies both in relation to the treatment of reserves and with regard to the investment of funds which are not required for the day to day funding of the charity.

 Principal risks and uncertainties

The Charity has compiled a comprehensive risk register which is owned and reviewed by the Trustees.

Structure, governance and management

 Constitution

The Spencer Club is a registered charity, number 1202463. As noted above the key governance documents are the Charity’s constitution supported by its complimentary Rules and Byelaws.

 Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Under the Charity’s constitution there is provision for nine Trustees. The first three are the officers of the Charity, namely the Chair, the Treasurer and the Secretary each of whom are elected/re-elected on an annual basis at the Charity’s AGM. The remaining six Trustees are nominated by each of the Constituent Sports Sections and serve for a period of three years and which may be renewed for one further period of three years.

Page 4

THE SPENCER CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Structure, governance and management (continued)

 Trustees

The following trustees held office throughout the year:

Mark Hyde Chair John Turner Treasurer Noreen Newbold Secretary Chris Graham Netball section trustee Per Arne Johnsen Cricket section trustee Simon Marsh Hockey section trustee Andrew Stanton Squash section trustee Yvonne Thomas Tennis section trustee Ben Thompson Lacrosse section trustee

 Organisational structure and decision-making policies

The organisation of the Charity is relatively straightforward. Under the board of trustees as detailed above there are three key managers; First, a finance and operations manager, secondly, a bar and catering manager (employed by the trading subsidiary) and thirdly, a head groundsman each of whom report to the Chair and/or the Treasurer as appropriate. The remaining employees of the Charity and the trading subsidiary then report to their relevant manager.

 Related party relationships

The Charity has a clearly defined policy for addressing any conflicts of interest which may arise although it should be noted that none of the Trustees are employed by the Charity.

Plans for future periods

The Charity’s clubhouse facilities are very outdated and barely fit for purpose, especially for the size, gender and age range of the membership. This has necessitated some short to medium term repairs, whilst in the medium to long term there are ambitious plans to invest in a new clubhouse with greatly improved changing and social facilities.

Page 5

THE SPENCER CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Statement of Trustees' responsibilities

Although day to day issues are dealt with by the Chair and /or the Treasurer in conjunction with the management team (see above ) all key decision making is reserved to the board of Trustees.

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 which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on 3 June 2026 and signed on their behalf by:

818A0000-C4C9-B25B-9C99-08DED5BE9C08

M Hyde Chair

Page 6

THE SPENCER CLUB

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025

Independent examiner's report to the Trustees of The Spencer Club ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2025.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) 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 been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 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.

Page 7

THE SPENCER CLUB

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: 818A0000-C4C9-B25B-9C82-08DED5BE9C08 Nicholas M Baldwin

Dated: 3 June 2026 BA(Econ) FCA DChA

Baldwin Scofield Ltd

Chartered Accountants

Page 8

THE SPENCER CLUB

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025

Note Income from: Donations and legacies 3 Charitable activities 4 Other activities 5 Investments 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): Transfer of net assets from CASC Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2025 £ 36,792 382,603 500 11,183 431,078 369,998 369,998 61,080 - 61,080 557,250 61,080 618,330	Total funds 2025 £ 36,792 382,603 500 11,183 431,078 369,998 369,998 61,080 - 61,080 557,250 61,080 618,330	Total funds 2024 £ 28,554 286,119 1,875 9,622
			326,170
			247,319
			247,319
			78,851 478,399
			557,250
			- 557,250
			557,250

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 25 form part of these financial statements.

Page 9

THE SPENCER CLUB

BALANCE SHEET AS AT 30 SEPTEMBER 2025

Note Fixed assets Tangible assets 12 Investments 13 Current assets Debtors 14 Cash at bank and in hand 16 Current liabilities Creditors: amounts falling due within one year 15 Net current assets Total net assets Charity funds Restricted funds 17 Unrestricted funds 17 Total funds	174,540 332,795 507,335 (51,308)	2025 £ 162,302 1 162,303 456,027 618,330 - 618,330 618,330	152,972 364,050 517,022 (71,800)	2024 £ 112,027 1
				112,028 445,222
				557,250
				- 557,250
				557,250

The financial statements were approved and authorised for issue by the Trustees on 03 June 2026 and signed on their behalf by:

----- Start of picture text -----
818A0000-C4C9-B25B-9CA2-08DED5BE9C08
----- End of picture text -----

J Turner

Treasurer

The notes on pages 11 to 25 form part of these financial statements.

Page 10

THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. General information

The Spencer Club is a registered charity, number 1202463. The key governance documents are the Charity’s constitution supported by its complimentary Rules and Byelaws.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Spencer Club meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

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

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.3 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 allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Page 11

THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

2. Accounting policies (continued)

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £1000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Leasehold property	- asset lives aligned to the lengths of the
	remaining ground/property leases
Leasehold improvements	- 10-15 years
Equipment, fixtures and fittings	- 3-7 years
AWP Improvements	- 20 years

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

Page 12

THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

2. Accounting policies (continued)

2.10 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Income from donations and legacies

Donations Donations	Unrestricted funds 2025 £ 36,792 Unrestricted funds 2024 £ 28,554	Total funds 2025 £ 36,792
		Total funds 2024 £ 28,554

Page 13

THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

4. Income from charitable activities

Section contributions Hire income Maintenance contract income 59 Fieldview Other income Section contributions Hire income Maintenance contract income 59 Fieldview	Unrestricted funds 2025 £ 175,036 67,238 115,601 16,091 8,637 382,603 Unrestricted funds 2024 £ 134,321 56,475 81,138 14,185 286,119	Total funds 2025 £ 175,036 67,238 115,601 16,091 8,637
		382,603
		Total funds 2024 £ 134,321 56,475 81,138 14,185
		286,119

Page 14

THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

5. Income from other activities

Income from fundraising activities

Advertising and sponsorship Advertising and sponsorship	Unrestricted funds 2025 £ 500 Unrestricted funds 2024 £ 1,875	Total funds 2025 £ 500
		Total funds 2024 £ 1,875

6. Investment income

Unrestricted funds 2025 £ Investment income - interest 11,183 Unrestricted funds 2024 £ Investment income - interest 9,622	Total funds 2025 £ 11,183
	Total funds 2024 £ 9,622

Page 15

THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

7. Analysis of expenditure on charitable activities

Summary by fund type

Direct costs - Charitable activities Direct costs - Charitable activities	Unrestricted funds 2025 £ 369,998 Unrestricted funds 2024 £ 247,319	Total 2025 £ 369,998
		Total 2024 £ 247,319

8. Analysis of expenditure by activities

Direct costs - Charitable activities Direct costs - Charitable activities	Activities undertaken directly 2025 £ 369,998 Activities undertaken directly 2024 £ 247,319	Total funds 2025 £ 369,998
		Total funds 2024 £ 247,319

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THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

8. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs Depreciation Utilities, services, insurance Irrecoverable VAT House expenses Ground expenses Administrative expenses Professional fees Staff costs Depreciation Utilities, services, insurance Irrecoverable VAT House expenses Ground expenses Administrative expenses Professional fees 9. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts	Activities 2025 £ 150,221 18,894 37,404 12,649 53,264 77,819 9,545 10,202 369,998 Activities 2024 £ 102,904 11,914 23,956 8,816 34,626 52,722 6,868 5,513 247,319 2025 £ 3,000	Total funds 2025 £ 150,221 18,894 37,404 12,649 53,264 77,819 9,545 10,202
		369,998
		Total funds 2024 £ 102,904 11,914 23,956 8,816 34,626 52,722 6,868 5,513
		247,319
		2024 £ 3,000

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THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

10. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	2025 £ 140,296 6,438 3,487 150,221	2024 £ 93,549 7,028 2,327
		102,904

The average number of persons employed by the Charity during the year was as follows:

Admin staff Groundsmen	2025 No. 1 4 5	2024 No. 1 4
		5

No employee received remuneration amounting to more than £60,000 in either year.

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 30 September 2025, no Trustee expenses have been incurred (2024 - £NIL) .

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THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

12. Tangible fixed assets

Cost or valuation At 1 October 2024 Additions At 30 September 2025 Depreciation At 1 October 2024 Charge for the year At 30 September 2025 Net book value At 30 September 2025 At 30 September 2024	Leasehold property £ 14,952 - 14,952 765 1,019 1,784 13,168 14,187	Leasehold improvemen ts £ 71,704 2,450 74,154 8,545 11,034 19,579 54,575 63,159	Equipment, Fixtures & fittings £ 24,201 77,307 101,508 7,520 11,429 18,949 82,559 16,681	AWP Improvemen ts £ 22,500 - 22,500 4,500 6,000 10,500 12,000 18,000	Total £ 133,357 79,757
					213,114
					21,330 29,482
					50,812
					162,302
					112,027

The fixed assets of the previous sports club/association have been transferred into the charity at the net book value at 1 January 2024.

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THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

13. Fixed asset investments

Cost or valuation At 1 October 2024 At 30 September 2025 Net book value At 30 September 2025 At 30 September 2024	Investments in subsidiary companies £ 1
	1
	1
	1

Principal subsidiaries

The following was a subsidiary undertaking of the Charity:

Name	Company	Registered office or principal	Registered office or principal	Holding
	number	place of business
The Spencer Club Trading Ltd	15109795	The Spencer Sports Club,		100%
		Fieldview, London, SW18	3HF
Included in
consolidation
No
The financial results of the subsidiary for the year were:
Name		Income		Expenditure
			£	£
The Spencer Club Trading Ltd		303,628		(303,628)

The financial results of the subsidiary for the year were:

Page 20

THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

14. Debtors

Due within one year Trade debtors Amounts owed by group undertakings Amounts owed by associates Other debtors Prepayments and accrued income	2025 £ 61,180 39,781 56,240 2,158 15,181 174,540	2024 £ 58,561 42,515 34,179 402 17,315
		152,972

15. Creditors: Amounts falling due within one year

Trade creditors Amounts owed to associates Other taxation and social security Accruals and deferred income	2025 £ 8,962 - - 42,346 51,308	2024 £ 15,235 3,401 10,113 43,051
		71,800

16. Financial instruments

	2025	2024
	£	£
Financial assets
Financial assets measured at fair value through income and expenditure	332,795	364,050

Financial assets measured at fair value through income and expenditure comprise bank balances.

Page 21

THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

17. Statement of funds

Statement of funds - current year

Unrestricted funds Designated funds Fixed assets AWP General funds General reserves Total Unrestricted funds	Balance at 1 October 2024 £ 112,027 244,816 356,843 200,407 557,250	Income £ - - - 431,078 431,078	Expenditure £ (29,483) - (29,483) (340,515) (369,998)	Transfers in/out £ 79,758 26,731 106,489 (106,489) -	Balance at 30 September 2025 £ 162,302 271,547
					433,849
					184,481
					618,330

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THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

17. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds Designated funds Fixed assets AWP General funds General reserves Total Unrestricted funds	Income £ - - - 326,170 326,170	Expenditure £ (21,330) - (21,330) (225,989) (247,319)	Transfers in/out £ - 16,816 16,816 (16,816) -	Gains/ (Losses) £ 133,357 228,000 361,357 117,042 478,399	Balance at 30 September 2024 £ 112,027 244,816
					356,843
					200,407
					557,250

18. Summary of funds

Summary of funds - current year

Designated funds General funds	Balance at 1 October 2024 £ 356,843 200,407 557,250	Income £ - 431,078 431,078	Expenditure £ (29,483) (340,515) (369,998)	Transfers in/out £ 106,489 (106,489) -	Balance at 30 September 2025 £ 433,849 184,481
					618,330

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THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

18. Summary of funds (continued)

Designated funds General funds	Income £ - 326,170 326,170	Expenditure £ (21,330) (225,989) (247,319)	Transfers in/out £ 16,816 (16,816) -	Gains/ (Losses) £ 361,357 117,042 478,399	Balance at 30 September 2024 £ 356,843 200,407
					557,250

19. Analysis of net assets between funds Analysis of net assets between funds - current year

Unrestricted funds 2025 £ Tangible fixed assets 162,302 Fixed asset investments 1 Current assets 507,335 Creditors due within one year (51,308) Total 618,330	Total funds 2025 £ 162,302 1 507,335 (51,308) 618,330

Analysis of net assets between funds - prior year

Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2024 £ 112,027 1 517,022 (71,800) 557,250	Total funds 2024 £ 112,027 1 517,022 (71,800) 557,250

Page 24

THE SPENCER CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

20. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £3,487 (2024: £2,327). No contributions were payable to the fund at the balance sheet date (2024: £Nil).

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