2022-03-31-accounts

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HIGHWAY CLUBS (INCORPORATED)(THE)

(Registered as a Charity, number 222327)

Registered Number 00175883 (England and Wales)

Report and Unaudited Financial Statements

31 March 2022

HAINES WATTS CHARTERED ACCOUNTANTS

Aissela, 46 High Street, Esher, Surrey, KT10 9QY

HIGHWAY CLUBS (INCORPORATED)(THE)

Directors’ and Trustees’ Report	1 - 2
Accountants’ Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6 - 9

HIGHWAY CLUBS (INCORPORATED)(THE)

DIRECTORS’ AND TRUSTEES’ REPORT

COMPANY REGISTRATION NUMBER: 00175883

CHARITY REGISTRATION NUMBER: 222327

The Trustees present their report and accounts for the year ended 31 March 2022. The Trustees confirm that these accounts comply with Statutory Requirements, its Memorandum and Articles of Association and Statement of Recommended Practice (Accounting and Reporting by Charities) and the Financial Reporting Standard FRS102 (effective Jan 2015).

Objects of the Charity and Principal Activities

The Charity is constituted as a company limited by guarantee and is therefore governed by its Memorandum and Articles of Association.

The Charity’s object and its principal activity continues to be that of promotion of The Highway Clubs, through the education, cultural, social, spiritual and physical activities of the clubs, the conscious or unconscious absorption of these fundamentals; the application of them to everyday life in the service of our fellow man and woman, and the total fitness of mind, body and spirit of all who come within the membership of The Highway Clubs.

Directors/Trustees

The Directors and Trustees throughout the period were as follows:

K E Clark P Mulcahy R L McCallum

Transactions, Financial Position and Review of the Development of the Charity

The Statements of Financial Activities show a surplus of Income over expenditure of £22,613 (2021 £10,683) and the reserves stand at £261,145 (2021 £238,532).

The company’s main charitable activities during the year under review were to make available its premises at concessionary rates to local sports and boxing clubs used by local children. The company has no plans to change these objectives.

The Charity continues to receive excellent support from volunteers and would like to take this opportunity to thank them for their time and efforts.

Funds Available

The present level of funding is adequate to support the continuation of the clubs now in operation for the medium term and the Trustees consider the financial position of the Charity to be satisfactory. The Charity’s assets are available and adequate to fulfil its current obligations.

Directors and Trustees

All Directors of the Company are also Trustees of the Charity and there are no other Trustees. The Board has the power to appoint additional Trustees as it considers fit to do so. The number of Trustees currently in place has fallen below the minimum number required by the company’s Articles of Association. The Trustees are actively searching for additional Trustees and hope to be able to appoint new Trustees in the near future.

HIGHWAY CLUBS (INCORPORATED)(THE)

DIRECTORS’ AND TRUSTEES’ REPORT (CONTINUED)

Trustees reach decisions relating to the Charity’s day to day business using a democratic voting system, with a simple majority finalising the decision made.

The Trustees have reviewed the major risks to which the Charity is exposed and have implemented necessary systems to mitigate those risks.

Statement of Trustees’ Responsibilities

The Trustees (who are also directors of Highways Club (Incorporated)(The) for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements, the Trustees are required to:

(i) select suitable accounting policies and then apply them consistently;
(ii) observe methods and principles in the Charities FRS 102 SORP;
(iii) make judgements and estimates that are reasonable and prudent;
(iv) state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
(v) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in operation.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Directors’ and Trustees’ report has been prepared in accordance with the special provisions of Part 15 of the Act applicable to small companies.

Approved by the Board of Directors and Trustees on

R L McCallum– Director and Trustee

HIGHWAY CLUBS (INCORPORATED)(THE)

ACCOUNTANTS' REPORT TO THE MEMBERS OF HIGHWAY CLUBS (INCORPORATED)(THE)

I report on the accounts of the company for the year ended 31 March 2022 which are set out on pages 4 to 9.

Respective responsibilities of Trustees and Accountants

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The Trustees consider that an audit is not required under section 144(2) of the Charities Act 2011 and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is therefore eligible for independent examination it is my responsibility to:

examine the accounts under section 145 of the 2011 Act;
follow the procedures laid down in the general directions given by Charity Commission under
section 145(5)(b) of the 2011 Act; and
state whether particular matters have come to my attention.

Basis of independent accountants’ report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent Accountants’ Statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that, in any material respect, the below requirements have not been met:

to keep accounting records in accordance with section 386 of the Companies Act 2006; and
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Christian Collins FCCA Haines Watts Chartered Accountants Aissela 46 High Street Esher Surrey KT10 9QY

HIGHWAY CLUBS (INCORPORATED)(THE)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF RECOGNISED GAINS)

YEAR ENDED 31 March 2022

Notes INCOMING RESOURCES Activities in furtherance of the Charity’s objectives: Donations Grant income Investment income Rental income Interest and dividends 2 Total incoming resources RESOURCES EXPENDED Other Expenditure in furtherance of the Charity’s objectives: Repairs and maintenance Equipment Legal and professional 3 Administration 4 Total resources expended Net incoming/outgoing resources before investment disposals and net income (expenditure) for the year Other Recognised Gains or Losses Profit/(loss) on disposal of current asset investments Total gains or losses on disposal Net movements in funds for the period Fund balances at the beginning of the period Transfer between funds Fund balances at the end of the period	Unrestricted Funds £ 19,143 25,893 - _ 45,036 _ 2,100 279 4,443 15,601 _ 22,423 _ 22,613 _ - _ - _ 22,613 166,741 - _ 189,354 __	2022 2021 Restricted Funds Total Total £ £ £ - 19,143 25,000 - 25,893 9,097 - - - _ _ _ - 45,036 34,097 _ _ _ - 2,100 2,197 1,557 4,640 - 4,443 3,602 - 14,323 12,975 _ _ _ - 22,423 23,414 _ _ _ - 22,613 10,683 _ _ _ - - - _ _ _ - - - _ _ _ - 22,613 10,683 71,791 238,532 227,849 - - _ _ _ 71,791 261,145 238,532 _ _ _

All of the company’s operations are classed as continuing. The attached notes on pages 6 to 9 form part of these financial statements

HIGHWAY CLUBS (INCORPORATED)(THE) BALANCE SHEET AT 31 March 2022

Registration number: 00175883

Notes £ FIXED ASSETS Tangible fixed assets 5 CURRENT ASSETS Debtors 6 - Bank and cash balances 244,419 _ 244,419 CREDITORS: amounts falling due within one year 7 (2,932) _ NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL AND RESERVES Unrestricted income funds 8 Restricted income funds 8 Non equity interest (the company is limited by guarantee)	2022 £ £ 19,658 - 234,806 _ 234,806 (2,932) _ 241,487 _ 261,145 _ 189,354 71,791 _ 261,145 _	2021 £ 6,656 231,876 _ 238,532 _ 166,741 71,791 _ 238,532 _

The directors are satisfied that the company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022 and the Trustees have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) Ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006; and
(b) Preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies, with the Financial Reporting Standard 102 (effective Jan 2015) and in accordance with the Statement of Recommended Practice (Accounting and Reporting by Charities).

Approved by the Trustees on

) ) R L McCallum ) ) )	Director

The attached notes on pages 6 to 9 form part of these financial statements

HIGHWAY CLUBS (INCORPORATED)(THE)

NOTES TO THE FINANCIAL STATEMENTS – 31 March 2022

1) ACCOUNTING POLICIES

a) Basis of Accounting

These financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 (effective January 2015) and the Statement of Recommended Practice “Accounting and reporting by Charities”. The accounts have been prepared in accordance with the Companies Act 2006.

b) Income

Rental income is included in the accounts on an accruals basis. All other income is included on a receipts basis.

c) Expenditure

Expenditure is allocated between direct charitable expenditure, fund–raising and publicity expenditure and administration expenses where applicable. Such expenditure is included on an accruals basis.

d) Value Added Tax

Value added Tax is not recoverable by the Charity and as such, is included in the relevant costs in the Statement of Financial Activities.

e) Tangible Fixed Assets

Assets are capitalised if it is in the Trustees opinion that they will have a useful economic life of more than one year. Depreciation is provided at the following rates per annum to write off the cost of the tangible fixed assets over their remaining useful lives:

Fixtures and Equipment - 15% reducing balance Leasehold Land and Property - Over the term of the lease

f) Charitable Donations

All charitable donations made during the year are included within Resources Expended and disclosed in the Director’s report.

g) Description of Funds

Unrestricted income funds are those which may be spent on any charitable purposes. Restricted income funds are funds received which can only be used for specific purposes. Costs incurred in relation to activities allowed by the restriction are charged to the restricted fund.

h) Current asset Investments

The investments are listed on recognised stock exchanges and recorded at the lower of historical cost and net realisable value in the accounts.

i) Provisions for Liabilities

Provisions are included for amounts due to third parties where there is a contractual obligation on or before the balance sheet date.

HIGHWAY CLUBS (INCORPORATED)(THE)

NOTES TO THE FINANCIAL STATEMENTS - 31 March 2022 (CONTINUED)

2.
INVESTMENT INCOME
Bank interest receivable
Dividends and Interest receivable from Investments
quoted on UK stock exchange
3. LEGAL AND PROFESSIONAL EXPENDITURE
Independent examination fees
Other professional fees
4. ADMINISTRATION
Property expenses
Depreciation
Investment management fees
Other administrative costs
5. TANGIBLE FIXED ASSETS
Leasehold
Property
£
COST
At 1 April 2021
11,744
Additions
-
_
At 31 March 2022
11,744
_
DEPRECIATION
At 1 April 2021
11,744
Charge for year
-
_
At 31 March 2022
11,744
_
NET BOOK VALUE
At 31 March 2022
-
_
At 31 March 2022
-
_

2022
2021
£
£
-
-
-
-
_
_
-
-
_
_
2022
2021
£
£
3,103
2,910
1,340
692
_
_
4,443
3,602
_
_
2022
2021
£
£
3,830
3,226
3,537
1,243
-
-
8,234
8,506
_
_
15,601
12,975
_
_
Fixtures &
Equipment
Total
£
£
70,904
82,648
16,538
16,538
_
_
87,442
99,186
_
_
64,248
75,992
3,537
3,537
_
_
67,785
79,529
_
_
19,657
19,657
_
_
6,656
6,656
_
_

The above assets are used for direct charitable purposes.

HIGHWAY CLUBS (INCORPORATED)(THE)

NOTES TO THE FINANCIAL STATEMENTS - 31 March 2022 (CONTINUED)

					2022	2021
					£	£
6.	DEBTORS
	Other debtors				-	-
					_	_
					2022	2021
					£	£
7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	Accruals				2,932	2,932
					_	_
					2,932	2,932
					_	_
8.	ANALYSIS OF RESTRICTED AND UNRESTRICTED FUNDS
			2022			2021
		Unrestricted	Restricted
		Funds	Funds		Total	Total
		£		£	£	£
	Brought forward from	166,741	71,791		238,532	227,849
	31 March 2021
	Net movements in funds	22,613			22,613	10,683
		___	___		___	___
	Accumulated funds at
	31 March 2022	189,354	71,791		261,145	238,532
		___	___		___	___

HIGHWAY CLUBS (INCORPORATED)(THE)

NOTES TO THE FINANCIAL STATEMENTS - 31 March 2022 (CONTINUED)

9. ANALYSIS OF RESTRICTED AND UNRESTRICTED FUND

Unrestricted reserves have been generated through the principal activities of the Charity and have no restrictions imposed. The purpose of the fund is to allow the continued use of the Charity’s asset to fulfil its overall objective as set out in the Trustees report. Sufficient funds are held to finance the Charity in the medium term.

Restricted funds relate to income generated from the sale of Abbots Holt Cottage and may only be used for the physical and social benefits of boys, particularly in connection with camps, playgrounds, club premises and similar projects. Adequate funds are held to achieve these restrictions.

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets Investments Debtors Cash at bank and in hand Other net assets/(liabilities) Tangible fixed assets Debtors Cash at bank and in hand Other net assets/(liabilities)	Unrestricted Funds £ 19,658 - - 172,628 (2,932) _ 189,354 _ Unrestricted Funds £ 6,656 - 163,015 (2,932) _ 166,741 _	2022 Restricted Funds Total £ £ - 19,658 - - - - 71,791 244,419 - (2,932) _ _ 71,791 261,145 _ _ 2021 Restricted Funds Total £ £ - 6,656 - - 71,791 234,806 - (2,932) _ _ 71,791 238,532 _ _

11. RELATED PARTY TRANSACTIONS

The Trustees are not employed by the Charity. The Trustees neither received nor waived any emoluments during the year.

HIGHWAY CLUBS (INCORPORATED)(THE)

Report and Unaudited Financial Statements

HIGHWAY CLUBS (INCORPORATED)(THE)

COMPANY INFORMATION

HIGHWAY CLUBS (INCORPORATED)(THE)

CONTENTS

HIGHWAY CLUBS (INCORPORATED)(THE)

DIRECTORS’ AND TRUSTEES’ REPORT

COMPANY REGISTRATION NUMBER: 00175883

CHARITY REGISTRATION NUMBER: 222327

Objects of the Charity and Principal Activities

Directors/Trustees

Transactions, Financial Position and Review of the Development of the Charity

Funds Available

Directors and Trustees

HIGHWAY CLUBS (INCORPORATED)(THE)

DIRECTORS’ AND TRUSTEES’ REPORT (CONTINUED)

Statement of Trustees’ Responsibilities

HIGHWAY CLUBS (INCORPORATED)(THE)

ACCOUNTANTS' REPORT TO THE MEMBERS OF HIGHWAY CLUBS (INCORPORATED)(THE)

Respective responsibilities of Trustees and Accountants

Basis of independent accountants’ report

Independent Accountants’ Statement

HIGHWAY CLUBS (INCORPORATED)(THE)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF RECOGNISED GAINS)

YEAR ENDED 31 March 2022

HIGHWAY CLUBS (INCORPORATED)(THE) BALANCE SHEET AT 31 March 2022

Registration number: 00175883

HIGHWAY CLUBS (INCORPORATED)(THE)

NOTES TO THE FINANCIAL STATEMENTS – 31 March 2022

1) ACCOUNTING POLICIES

a) Basis of Accounting

b) Income

c) Expenditure

d) Value Added Tax

e) Tangible Fixed Assets

f) Charitable Donations

g) Description of Funds

h) Current asset Investments

i) Provisions for Liabilities

HIGHWAY CLUBS (INCORPORATED)(THE)

NOTES TO THE FINANCIAL STATEMENTS - 31 March 2022 (CONTINUED)

HIGHWAY CLUBS (INCORPORATED)(THE)

NOTES TO THE FINANCIAL STATEMENTS - 31 March 2022 (CONTINUED)

HIGHWAY CLUBS (INCORPORATED)(THE)

NOTES TO THE FINANCIAL STATEMENTS - 31 March 2022 (CONTINUED)

9. ANALYSIS OF RESTRICTED AND UNRESTRICTED FUND

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS

11. RELATED PARTY TRANSACTIONS