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2025-09-30-accounts

Report and Financial Statements For the Year Ended 30 September 2025

Charity registration number: 1209380

ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

The Trustees present its first Annual Report which provides an overview of the charity’s activities, achievements, and financial performance for the period 1[st] October 2024 to 30[th] September 2025. This first year of being a charity after the change of status from an unincorporated organisation has been one of change to ensure compliance with all of the new requirements, and a big thank you goes out to all the volunteers and staff for the work undertaken and ensuring there has been a smooth transformation. We are now optimistic that we are in a very strong position to progress forward over the next few years to allow the charity to achieve its aims and objectives.

Essex Tennis is a Charitable Incorporated Organisation (CIO) with voting members other than the charity trustees.

The information relating to 2024 is for comparison purposes only, as are the final set of accounts for the organisation as at 30 September 2024 prior to us becoming a Charitable Incorporated Organisation.

Reference and Administrative Information Charity Name: Essex Tennis Charity registration number: 1209380 Registered Office and operational address: Redbridge Sports Centre, Forest Road, Essex, IG6 3HD

Board of Trustees as at 30 September 2025

Mr D Harston President Mr M Jones Treasurer Mrs W Taylor Secretary Mr P Marks Mr J Blewett Mr J Foster Mrs J O’Mahony Mr J Driscoll

The following 2 trustees were appointed on 1[st] October 2025 until the AGM when they will be up for re-election by the Members:

Mr S Joyce

Ms A Quantrill

Independent Reviewer

Colin Hudson

The Hudson Partnership

361 Rayleigh Rd, Southend-on-Sea, Leigh-on-Sea SS9 5PS

Contact Information

Phone 0208 502 6364 Website www.essextennis.com

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

Our Aims and Objectives

Purposes and Aims

Our charity’s purposes as set out in the objects contained in the Constitution are:

The advancement of community participation in healthy recreation both indoors and outdoors by facilitating the playing of tennis, and its derivatives, including but not limited to, padel, pickleball, in the County of Essex.

The aim of our charity is to make the game of tennis and its derivatives available to everyone, from complete beginners through to those playing professionally. We believe our aims fully reflect the purposes that the charity was set up to further.

Ensuring our work delivers our aims.

In conjunction with the Lawn Tennis Association (LTA), who make a substantial grant to us each year, we operate with a 3-year rolling business plan, to ensure both our and the LTA’s objectives are achieved. We continually review this business plan to ensure it is both compliant with the LTA’s latest requirements and directives, and on target to achieve our objectives. This review will also look at at the work being undertaken to ensure it is generating value for money, as well as monitoring governance, risk assessment, financial controls, and safeguarding to ensure they are of the highest standard possible.

The core areas of tennis activity that the business plan covers are:

The focus of our work

Our main objectives for the year were:

During 2026 we will continue with the above 2 objectives but in additional work to implement a Parks Programme in conjunction with local coaches.

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

Achievements

This gives an insight into some of the key achievements and programmes created during the year.

Equity, Diversity and Inclusion

8&Under Development Program

The aim of the programme was to introduce children aged 5 and 6 to tennis at venues around the county by running a series of Open ID days, where no prior experience necessary. Children with relevant attributes were then invited to attend monthly development squads coupled with a monthly tournament programme. Over 300 children attended the ID days and some 80 were selected for the development squads. These players will then feed into the 8&Under county training programme.

Junior Player Achievements

Event Number Players
Junior ITF or Tennis Europe Titles 10
CompetingInternationally 7
Played for GB 6
Played at Junior Wimbledon 2
GB National Finalists 2
Ranked 1 in GB for age during year 3

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

Financial Review

Principal Funding Sources

We have 4 primary sources on Income.

The LTA grant and Membership Fees will at best only increase in line with inflation, so our focus for increasing revenue will be on the Commercial Partnerships and Activities. The Funding Model grant from the LTA has designated amounts to be spent in the 4 keys areas of operations Competition, Participation, Performance and Volunteers, but there are no restrictions in how the grant is spent within each area. We have also received an additional grant from the LTA for an Open Court Program (EDI).

Amount
LTA FundingModel Grant for Competition 41,306
LTA FundingModel Grant for Participation 31,702
LTA FundingModel Grant for Performance 22,093
LTA FundingModel Grant for Volunteers 960
LTA Grant for Open Court 8,906

Reserves Policy

The LTA Policy in relation to Reserves is to allow reserves to be retained for the following:

Any reserves in excess of these will potentially result in a reduction in the grant made by the LTA.

The current spend on all activities is around £260,000, so we are allowed a maximum of £520,000 as an Operational Reserve which will be within the General Reserves.

The Venue Loan Fund is currently set at £500,000 which we believe is sufficient to cover the Loans to member organisations to help the development of their own facilities, in recent years the outstanding balance has been around £400,000.

We also have an Indoor Centre Development Fund to allow us to develop indoor centres in the county at some stage in the future either on our own or in conjunction with third parties. This is primarily a long-term objective, but any potential opportunity will be investigated and evaluated.

These policies enable any retained funds not required for the day-to-day operating costs or the Venue Loan Fund to be transferred to the Indoor Centre Development Fund.

The Trustee review this policy on an annual basis to ensure it complies with our requirements and obligations and to ensure the future of the charity is not at risk.

Investment Policy

We are in the fortunate position to be generating funds that exceed our day-to-day requirements, and these funds with be invested in Bank Fixed Term Deposit Accounts or Interest Earning Accounts or invested into the Markets via our Financial Advisors, Crocus Wealth. This will help generate sufficient funds to fulfil our long-term projects of providing additional Indoor Courts.

When the Investment Policy was agreed the long-term return was targeted at between 3% and 5%. The investment commenced in August 2019 and despite various world events impacting the markets since then our return have been over 3.5%, with the recovery since the Sept 2023 showing a return of 9.5%. Whilst we do not expect this level

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

of return to be maintained in the future, we are satisfied that the long-term targets will be met and there are no plans to change our exposure to risk or the investment policy we have in place.

At the end of the financial year, we had just under £500,000 in fixed term deposits and a further £500,000 in interest earning accounts. To date we have invested a total of £800,000 into the markets and as at 30 September 2025 these investments were values as below:

Account Name Valuation
Close Sustainable Select Fixed Income Fund X Acc. 91,285
FidelityIndex World Fund P Accumulation 47,552
FTF Martin Currie UK EquityIncome Fund W Acc. 46,050
IFSL Evenlode Global EquityF GBP Accumulation 44,519
IFSL Pinnacle Global EquityInc Fund B Acc. 93,114
Legal & General Strategic Bond Fund C Acc.(Restricted Fund) 138,026
Premier Miton Strategic MonthlyIncome Bond C accumulation 110,007
Rathbone Global Opportunities Fund S Acc. 91,654
Rathbone Greenbank Global Sustainable Bond Fund F GBP Accumulation 73,391
Vanguard Global EmergingMarkets Fund A GBP Acc. 49,049
Vanguard Global Sustainable EquityFund A GBP Accumulation 92,586
WS Lightman Investment Funds - WS Lightman Euro Fund 46,951
TradingAccount 17,236
Total 941,420

Plans for Future Periods

The charity plans to continue supporting and funding the activities it currently undertakes but will make available additional funds to allow its Equity, Diversity and Inclusion (EDI) programme and 8&Under Development Squad Programme to develop and expand. Additionally, it is proposed to make funds available for the implementation of a Parks Project, primarily aimed at supporting the coaches and players in underprivileged parts of Essex.

We will also continue working with local councils and organisations to open up tennis to a wider audience, particularly in connection with the EDI programme.

Longer term plans are for the development of a further indoor tennis centre, to supplement or replace the facilities at Redbridge when the lease expires in 2054. However the trustees will explore any suitable opportunity if it arises before then, either on its own or with a third party.

Governance and Management

Governance

We have sound Governance in place that has to be compliant with the requirements of the LTA and Sport England which the Trustees review on a regular basis. The LTA carry out audits on all the County Associations Governance, and Essex Tennis were the first County association to achieve a score of 100% when audited in 2024. Our next audit will be in 2027.

Management Structure

The Trustees form the main board and are ultimately responsible for the activities of Essex Tennis and they meet every 6 to 8 weeks to review activities and guide the charity forward. Reporting into the board are a number of “Teams” that are responsible for certain aspects of the work undertaken by the charity, such as Junior Competition. Senior Competition, EDI and Performance. Each team is given terms of reference and would normally be expected

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

to meet at least 4 times a year after which a summary of the meeting and proposed actions to be taken will be prepared and forwarded to the board for review and approval.

All trustees, team members and other volunteers give their time voluntarily and received no benefits from the charity. They are however allowed to claim out of pocket expenses.

Trustees are appointed for a 3-year term after which they may put themselves up for re-election, up to a maximum of 3 terms. The Board seeks to ensure that the needs of the charity are appropriately reflected through the diversity of the trustees and if required selective advertising will be used. The board maintain a skill set of the trustees to ensure they have sufficient knowledge to allow the charity to operate efficiently.

Trustee Inducton and Training

All new trustees are given the guidelines and responsibility of a Trustee as available from the Charity Commission website and are given a general induction course to allow them to appreciate the scope and workings of the charity, and where relevant a more detailed insight into a particular aspect of the charity’s work.

Part of the general induction is completion of online courses for both Safeguarding, EDI and a DBS check.

Risk Management

The Board conducts a review of the major risks to which the charity is exposed. A risk register has been established and is updated regularly. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Significant external risks to funding have led to the development of a strategic plan which will allow for the diversification of funding and activities. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with all relevant standards.

These risks and procedures are periodically reviewed by the Trustees each year to ensure that they continue to meet the needs of the charity.

Organisatonal Structure

The Board can consist of up to 12 trustees, there are currently 8 trustees from a variety of backgrounds all relevant to the work of the charity, who meet every 6 to 8 weeks. Other volunteers and paid staff will be invited to attend the meetings, when relevant, but they will have no voting rights. The board is responsible for the strategic direction and policy of the charity.

The Chair of the Trustees has been appointed as the office manager responsible for the running of the charity’s office and the staff to ensure the day-to-day work is carried out in a timely manner.

Authority and delegation is given by the board to the teams and/or individuals to undertake the work of the charity.

Responsibilities of the Trustees

The Treasurer and Finance Officer are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and for the preparation of the financial statements each year, taking into account best practice for the following:

The Board will then be responsible for ensuring the financial statements are a true and fair reflection of the financial position of the charity. The Board will also be responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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ESSEX TENNIS ANNUAL REPORT FOR YEAR TO 30 SEPT 2025 ESSEX TENNIS INDEPENDENT REVIEW OF THE ACCOUNTS FOR THE PERIOD TO 30 SEPTEMBER 2025 I report an the accounts for the twelve month perlod ended 30 Seplernber 2025. consi5tin8 of Income & Ekpendlture Account, BalBncE Sheet and accompanylng detall. It15 my responsib51ity to e¥arnlne the accounts and to state whether partlc¥lar matters have come to my attentlon. My exèmlnatlon Included a revlew of the 3ccountin8 records kept by the Assooatlon and a compar150n of the accounts presented ¥￿th thost rÈcords. It alw Included conslderatlon ol any unusual iterns In the account5, and seeklng explanatlons concerning Jny suth matiers. The procedures undertaken do not provlde all tho e￿dence that would be requlred in an audit and consequently no oplnlon 15 glven as to whother the accounts present a 'true and falr vlew" and the r¢pori Is Ilrnlted to the statement below. Iii connectloll vAlh my examlnatlon, no matter has corne to my attentlon: al to whlch glves me cause io belleve that, In any materlal respect. the general requlrements to keep èc¢ountlng re£ords In accordance with VK acctyJntln8 Nlndples have not been met bl to whlch, In rny oplnlon. attentlon should be dravm In ¢yder to enable a pryr understandlng of the accounts io be reached Colln Hudson FCCA The Hud50n Partnershlp 29 May 2025 Pag87of15

ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

Statement of Financial Activities

Profit & Loss Statement for the 12 months ending 30 September 2025

Note
INCOME
1
Registration Fees
2
Grants
3
Juniors
4
County Adult Competitions
5
Inter County Competitions
6
Commercial
7
Other
8
Interest and Investments
EXPENDITURE
9
Coaching
10
Places to Play
11
Juniors
12
County Adult Competitions
13
Inter County Competitions Adults
14
Operational
15
Depreciation/Amortisation
16
Other costs
Operating Surplus/Deficit for Year		 2025
58,691
104,967
24,272
2,500
199,534
300
57,320
447,584
181
40,626
97,742
4,733
37,133
68,920
6,426
9,048
264,809
182,775		 2024
58,532
97,385
21,889
2,090
182,145
570
54,605
417,216
150
26,036
77,034
2,306
35,058
67,165
6,426
15,134
229,309
187,907

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

Balance Sheet as at 30 September 2025

Fixed Assets
21
Fixed Assets & Leasehold Licences
Deferred Assets
22
Prepaid Court fees Deanes
17
AE Loans to Clubs
Current Assets
Stock on hand
Debtors & Prepaid Expenses
18
Bank & Cash Balances
19
Investment at year end valuation
Total Current Assets
Less: Current Liabilities
Creditors & Accruals
PAYE, VAT and Corporation Tax
Net Current Assets
NET ASSETS
Financed by:
Accumulated Funds at 30 Sept 2025
Investment Revaluation Reserve b/fwd.
20
Revaluation for Year
Investment Revaluation Reserve c/fwd.
Specific Reserves Funds
Leasehold Replacement Reserve b/fwd.
Transfers for the year
Leasehold Replacement Reserve c/fwd.
AE Loan Scheme Reserves b/fwd.
Transfers for the year
AE Loan Scheme Reserves c/fwd.
Total Specific Reserves
23
General Reserve
General Reserve b/fwd.
Surplus/Deficit for the year
Transfers to Specific Reserves
Increase/Decrease in General Reserves
Retained General Reserves c/fwd.
ACCUMULATED FUNDS		 8,507
299,845		 2025
7,909
308,352
1,887,635
2,203,896
67,556
1,795,709
340,631
2,203,896		 13,147
425,385		 2024
9695
438,532
1,546,985
6,830
1,025,457
941,420		 2,175
718,063
879,857
1,973,707 1,600,095
71,346
14,726		 57,537
-4,427
86,072 53,110
41,647
25,909		 -3,632
45,279
1,995,212
41,647
1,595,709
357,856
1,095,709
200,000		 895,709
200,000
1,295,709 1,095,709
500,000 500,000
500,000 500,000
357,856
182,775
-200,000		 369,949
187,907
-200,000
1,995,212

These accounts were approved by the Board on 4[th] December 2025 and signed on its behalf by: M Jones Treasurer

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

Notes forming part of the Financial Statements for the year ended 30 September 2025

1 Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

a) Basis of accounting

The financial statements have been prepared under the historical cost convention, as modified by the inclusion of fixed asset investments at market value.

b) Fund Accounting

c) Resources Expended

d) Fixed Assets

Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, which in all cases is estimated at 4 years. Impairment reviews are carried out as and when evidence comes to light that that the recoverable amount of a functional fixed asset is below its net book value due to damage, obsolescence or other relevant factors.

Investments held as fixed assets are revalued at market value at the balance sheet date. Any realised gain or loss achieved through trading of these investments is taken to the Statement of Financial Activities.

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

1
Registration Fees
Places to Play fees
Advantage Essex Fees
Other Registration Fees
Forums and Courses
2
Grants
LTA Grant - Restricted
LTA Open Court Grant - Restricted
LTA Junior County Training
3
Juniors
County Training
Road to Wimbledon
Winter Series
National League Tennis
Junior Sponsorship
Clothing Sales
Other
4
County Adult Competitions
County Leagues
County Cups Competitions
National League Tennis
Other
5
Inter County Competitions
Sponsorship
Other
6
Commercial
Corporate Membership and Donations
Patrons Fees and Donations
Court Hire Fees
Equipment Sales
Other Sponsorship
7
Other
Fines and Other Income		 2025
58,566
125
58,691
96,061
8,906
104,967
11,682
2,840
9,750
24,272
1,100
600
800
2,500
162,019
36,765
750
199,534
300
300		 2024
58,457
75
58,532
93,375
4,010
97,385
5,695
2,874
13,320
21,889
800
350
940
2,090
149,411
31,984
750
182,145

570
570

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

8
Interest and Investments
Institutions
Other
Investments
9
Coaching
Forums
Other Coaching Expenditure
10 Places to Play
Club and Coach Forums
AE Grants to Clubs
Annual Awards
Tournament Support
Defibrillators
Welfare Office Support and Other
Other
11 Juniors
Administration
County Training
Regional Training
Junior County Cup
Road to Wimbledon
Lionel Cox
Twelve Counties
National League Tennis
Talent ID Days
County Playing Kit
Other Junior Costs
12 County Adult Competitions
County Competitions
National League Tennis
Padel
Other		 2025
8,990
4,325
44,005
57,320
181
181
15,852
13,583
3,041
7,890
60
200
40,626
21,960
21,997
779
39,841
1,073
1,976
5,348
1,764
1,337
1,667
97,742
1,724
810
2,199
4,733		 2024
6,622
2,550
45,433
54,605
150
150
8,811
8,943
2,996
4,580
506
200
26,036
15,330
17,959
1,747
30,017
996
1,652
2,827
2,558
2,495
1,082
371
77,034
1,460
846
2,306

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

13 Inter County Competitions Adults
Summer County Cup
Winter County Cup
Invitation Tournaments and Practice
Team bonuses
Over 35
Seniors 40+
County Playing Kit
Other
14 Operational expenses
Administrators
Maintenance
Telephone
Printing Postage & Stationery
Professional Fees
Committee
Computer - IT
Webb Site
Travel & Entertainment
Insurance
Sundry Expenses
Other
15 Depreciation and amortisation
Depreciation and amortisation
16 Other
Bank Charges
Corporation Tax
Investment Charges and Fees
17 AE Loans to Clubs
Balance b/fwd.
New loans during year
Repayments
Balance c/fwd.
18 Bank & Cash Balances
Term Deposits
Other Accounts		 2025
19,484
10,167
530
2,106
2,999
1,847
37,133
56,150
1,700
2,156
244
208
5,957
200
215
408
1,682
68,920
6,426
6,426
697
8,351
9,048
425,383
125,540
299,843
418,570
606,887
1,025,457		 2024
17,878
9,335
651
1,515
5,050
629
35,058
51,444
1,969
734
1,750
732
8,012
1,313
331
880
67,165
6,426
6,426
850
8,860
5,424
15,134
353,684
205,000
133,301
425,383
415,343
302,720
718,063

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

19 Investment
At Cost
Investment at cost b/fwd.
New funds invested during year
Total Investment at Cost
Trading Activities at Cost b/fwd.
Disposals at cost during year
Purchases at Cost
Net Movements during year at cost
Investment at cost c/fwd.
Investment Valuation
Valuation at Start of Year
Increase in Investment
Realised Gains of Funds closed during year
Realised Gains on active Fund trading
Activities
Increase in valuation of Funds
Interest Rec'd and Re-invested
Dividend Rec'd re-invested
Less
Platform Charges
Advisor Fees
Net Movement in Valuation
Valuation at End of Year
Increase in Value Portfolio to Date
20 Investment Revaluation Reserve
Balance b/fwd.
Movement for Year
Change in Valuation for Year
Add back Charges and Fees
Less
Interest Received and Re-invested
Dividend Received and Re-invested
Realised Profit on Transfer between Funds
Realised Loss on Transfer between Funds
Revaluation for Year
Balance C/fwd.		 800,000 2025
800,000
38,891
34,556
873,447
879,857
879,857
61,563
941,420
61,563
41,648
25,908
67,556		 2024
600,000
200,000		 800,000
38,891
-398,726
433,283		 38,891
35,741
7,397
25,908
868		 44,852
45,279
580
838,891
594,570
200,000
794,570
85,287
69,914
1,325
7,026
61,562
8,351		 90,711
5,424
85,287
5,424
879,857
85,287
-3,631
45,279
69,913 90,711
868
43,137		 580
44,852
44,005 45,432
41,648

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ANNUAL REPORT FOR YEAR TO 30 SEPT 2025

21 Fixed Assets & Leasehold Licences

At Cost
Balance b/fwd.
Additions
Disposals
Balance c/fwd.
Accumulated Depreciation
Balance b/fwd.
Disposals
Charge for the year
Balance c/fwd.
Net Book Value
Balance b/fwd.
Balance c/fwd.		 Office
Furniture
Office
Equipment
Redbridge
Licence
Redbridge
Leasehold
Total Fixed
Assets
11,787 34,494 60,000 3,520 109,801
- - - - -
- - - - -
11,787 34,494 60,000 3,520 109,801
11,786 34,493 50,308 3,519 100,106
- - -
- -
- - 1,786 - 1,786
11,786 34,493 52,094 3,519 101,892
1 1 9,692
1 9,695
1
1
7,906 1 7,909

The Redbridge Licence relates to a grant made by Essex Tennis to help in the development of the Redbridge Sports Centre in return for office space and access to the indoor and outdoor tennis courts for Performance Tennis, either training or matches. The Licence is being written off at 3% per annum and expires in August 2054.

22 Prepaid Court fees Deanes

This Licence agreement between Essex Tennis and The Deanes School was made in August 2002 for a period of 25 years and grants Essex Tennis restricted access to the school’s courts.

At Cost
Depreciaton
Net Book Value		 Deanes Licence
116,000
Balance b/fwd.
102,853
Charge for theyear
4,640
Balance c/fwd.
107,493
Balance b/fwd.
13,147
Balance c/fwd.
8,507

23 General Reserves

A further £200,000 has been transferred from the General Reserves to the Leasehold Replacement Reserve leaving a balance of £340,000 on the General Reserve, which after taking into account income and expenditure forecasts the Trustees believe is adequate to allow the charity to fulfil its obligation without any detrimental impact.

The Leasehold Replacement Reserve now stands at just under £1.3 million, which is in line with the original projections of reaching £4 million before the end of the lease agreement at Redbridge.

24 Corporation Tax

As a charity, Essex Tennis is exempt from corporation tax on income and gains, to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

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