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2021-12-31-accounts

Financial Statements

For the Year Ended 31 December 2021

For

Pedmore Sporting Club Limited and The Pedmore Sporting Club Trust Fund

Registered No. 1044358 Registered Charity No. 263907

Pedmore Sporting Club Limited and The Pedmore Sporting Club Trust Fund

Financial statements 31 December 2021

Contents

Directors’ report 1
Statement of directors’ responsibilities 2
Independent auditors’ report to the members of
Pedmore Sporting Club Limited 3
Income statement 6
Balance Sheet 7
Notes 8
Trustees’ report 10
Independent auditors’ report to the trustees of the
Pedmore Sporting Club Trust Fund 12
Statement of fnancial activities 14
Balance sheet 15
Notes 16

Pedmore Sporting Club Limited (Registered No : 1044358)

Directors’ report and financial statements 31 December 2021

Directors’ report

Directors

The directors who served during the year were:

Committee Members : J Hickton (Chairman) A Grainger (President) M S Raybould G Whitehouse J Leigh D M Johnston P Chapman R Macey N Stallard (Appointed 24 May 2021) Past presidents R Herman-Smith OBE R Williams BEM P B Pioli J M Price W H Oliver J S Whitehouse S T Newnes R A Shuck H J Owen G Knowles M J Bellfield Secretary : A E Nicklin

Activities

The principal activity of the company continues to be the organisation of charitable events.

Results

The surplus of income over expenditure for the year ended 31 December 2021 amounted to £134 (2020: £193) as shown in the income and expenditure account on page 5. This was due mainly to a small amount of overhead recovery.

Share capital

The company has no share capital and is limited by guarantee of its members.

The liability of a member in the event of the company being wound up whilst a member, or within one year of ceasing to be a member, is not to exceed £10.

Retirement of directors

The directors to retire in accordance with the Articles of Association are Mr J Leigh and Mr M S Raybould who, being eligible, offer themselves for re-election.

Statement as to the disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company’s auditors are unaware and each director has taken all the steps that he, or she, ought to have taken as a director in order to make himself, or herself, aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

Auditors

A resolution for the re-appointment of Nicklin Audit Limited as auditors to the company will be proposed at the forthcoming Annual General Meeting.

J Hickton Chairman Dated :

Page 1

Pedmore Sporting Club Limited (Registered No : 1044358)

Directors’ report and financial statements 31 December 2021

Statement of directors’ responsibilities

The directors are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they 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 directors are required to

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and 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. 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.

Page 2

Pedmore Sporting Club Limited (Registered No : 1044358)

Report of the Independent Auditors to the Members of Pedmore Sporting Club Limited

Opinion

We have audited the financial statements of Pedmore Sporting Club Limited (the 'company') for the year ended 31 December 2021 which comprise Income Statement, the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a

material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 3

Pedmore Sporting Club Limited (Registered No : 1044358)

Report of the Independent Auditors to the Members of Pedmore Sporting Club Limited (Continued)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess risks of material misstatement of the financial statements, whether due to fraud and error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

As a result of these procedures we considered the opportunities that may exist within the organisation for fraud resulting in material misstatement in the financial statements. We considered that any such opportunities are mitigated by the fact that the company is under the close control of its directors. Our procedures to arrive at this conclusion included the following:

Page 4

Page 4

Pedmore Sporting Club Limited (Registered No : 1044358)

Report of the Independent Auditors to the Members of Pedmore Sporting Club Limited (Continued)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Howell FCA (Senior Statutory Auditor) for and on behalf of Nicklin Audit Limited Chartered Accountants Statutory Auditors Church Court Stourbridge Road Halesowen West Midlands B63 3TT

Date:

Page 5

Pedmore Sporting Club Limited (Registered No : 1044358)

Directors’ report and financial statements 31 December 2021

Income Statement

Income Statement
for the year ended 31 December 2021
2021
 2020
Note £ £ £ £
Income
Administration subscription 14,850 14,580
Administration reserve 3,000 3,500
Pedmore Sporting Life newsletter 313 259
2
—————— ——————
18,163 18,339
Expenditure
Postage and stationery 645 879
Telecommunications 950 924
Administration fee 16,000 16,000
Depreciation 77 52
Annual return fee and license - -
Committee meeting room hire 50 -
Insurance 174 165
Bank charges 134 126
—————— ——————
18,029 18,146
—————— ——————
Surplus of income over expenditure for the year 134 193
Fund balance brought forward 2,675 2,482
—————— ——————
Fund balance carried forward 2,809 2,675
═══════ ═══════

Page 6

Pedmore Sporting Club Limited (Registered No : 1044358)

Directors’ report and financial statements 31 December 2021

Balance Sheet at 31 December 2021

2021
 2020
Note £ £ £ £
Fixed assets
Tangible assets
4 75 152
Current assets
Stock 1,938 2,216
Debtors
5 1,575 1,857
—————— ——————
3,513 4,073
Creditors:amounts falling due within
one year
Accruals
6 (779) (1,550)
—————— ——————
2,734 2,523
—————— ——————
Net assets 2,809 2,675
═══════ ═══════
Represented by:
Fund balance 2,809 2,675
═══════ ═══════

These financial statements have been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small companies.

These financial statements were approved by the directors on and were signed on their behalf by:

J Hickton Chairman

Page 7

Pedmore Sporting Club Limited (Registered No : 1044358)

Directors’ report and financial statements 31 December 2021

Notes

(forming part of the financial statements)

1 Statutory information and accounting policies

Pedmore Sporting Club Limited is a private limited company, limited by guarantee, with registered number 1044358, and registered office at Church Court, Stourbridge Road, Halesowen, West Midlands B63 3TT

Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with the provisions of Section 1A “Small Entities” of Financial Reporting Standard 102 “Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland” (FRS 102) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below.

Cash flow statement

The company is exempt from the requirement to prepare a cash flow statement on the grounds of its size.

Stocks

Stocks comprise club ties and sweaters available for resale. Stocks have been valued at the lower of cost and net realisable value.

Income and expenditure on events

Events are administered by the company on behalf of the Pedmore Sporting Club Trust Fund at no gain with the resulting surplus passed to the Trust.

Any debtors or creditors relating to these events are disclosed in the balance sheet of the company.

Income from subscriptions

This income is accounted for on an accrual basis.

Administration expenditure

Administration expenditure is accounted for on an accruals basis.

Fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on cost

2
Pedmore Sporting Life newsletter

Advertising revenue
Less : production costs
—
═		 2021
2020
£
£
901
845
(588)
(586)
—————
——————
313
259
══════
═══════		 2020

3 Related Party Disclosures

At the year end £918 (2020: £1,857) was due from Pedmore Sporting Club Trust Fund, an entity under the control of some of the Directors.

Page 8

Pedmore Sporting Club Limited (Registered No : 1044358)

Directors’ report and financial statements 31 December 2021

Notes

(forming part of the financial statements)

4
Fixed assets
Cost
At 31 December 2020
Additions in year
At 31 December 2021
Depreciation
At 31 December 2020
Charge for year
At 31 December 2021
Net Book Value
At 31 December 2021
At 31 December 2020
5
Debtors
Amount due from Pedmore Sporting Club Trust Fund
Other debtors
—
═
6
Creditors
Accruals
—
═		 Fixtures and
Fittings
£
633
-
——————
633
═══════
481
77
——————
558
═══════
75
═══════
152
═══════
2021
£
2020
£
918
1,857
657
-
—————
——————
1,575
1,857
══════
═══════
2021
£
2020
£
779
1,550
—————
——————
779
1,550
══════
═══════

Page 9

The Pedmore Sporting Club Trust Fund

Trustees’ report and financial statements 31 December 2021

Trustees’ report

The trustees present their report along with the financial statements of the charity for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 13 and comply with the charities trust deed, 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 published on 16 July 2014.

Trustees

R Herman-Smith OBE R Williams BEM J M Price P B Pioli J S Whitehouse M J Bellfield

Constitution and objects

The Pedmore Sporting Club Trust Fund is constituted under a trust deed dated 7 March 1973 and is a registered charity no. 263907.

The objects of the Trust Fund are to utilise the monies which may be held or received for the relief of the poor and needy and for any other charitable purpose which may be approved in a duly constituted meeting, through cash grants or the provision of goods and services.

Organisation

The trustees who have served during the year and since the year ended are set out above.

A panel comprising existing trustees, past presidents and committee members (“the Executive Committee”) nominates members for appointment to the trustee board. Members of the Club in general meeting confirm those nominations. Trustees serve for an indefinite term. The Executive Committee meets quarterly to assess grant applications and, in some instances, might nominate someone to interview individual grant applicants. On these occasions the nominees report back to the Executive Committee, which will then approve or refuse grants. All members are informed of the history, objectives and policies of the Trust Fund upon the completion of the membership process.

Appointing new trustees

New trustees are appointed from Pedmore Sporting Club Past Presidents who have held the office of Pedmore Sporting Club President and Pedmore Sporting Club Chairman for the formal requirement of two years for each office following serving as a Pedmore Sporting Club committee member during the years preceding their tenure.

Grant making policy

The Trust Fund considers applications for funding or projects from individuals or institutions, preferably locally based, provided the application satisfies the criteria set out in the Trust Fund’s objects. In considering applications the trustees have had due regard to guidance issued by the Charity Commission on public benefit.

Financial review and investment policy

As shown in the statement of financial activities on page 14, there has been an increase in income for the year of £76,349 to £74,872, mainly because of gains on investments. Income actually received from the Income Investment Portfolio was £10,700 for year 2021, which combined with the £44,706 representing the gains made on investment disposals and increases in market values in the Investment Portfolio, resulted in a strong return of £55,406 from investment for the year, which appears on page 14. Donations paid in the year were £19,756 as detailed on page 18

The only restriction on the Trust Fund’s power to invest is that the funds are not immediately required and are only invested in legally authorised investments.

Achievement and Performance

During the period the Trust made donations amounting to £19,756 (2020: £20,488), which included donations of £3,760 to the Emily Jordan Foundation, £2,847 to Worcester Snoezelen, and £2,150 to Arrive Alive. The balance of £10,999 was given to various local worthy causes as detailed on page 18.

Page 10

The Pedmore Sporting Club Trust Fund

Trustees’ report and financial statements 31 December 2021

Trustees’ report (continued)

During the year 2021, lockdowns and restrictions due to the coronavirus covid-19 pandemic were eased to some degree and this allowed some return towards normality in the PSC Schedule of Events. The normal annual schedule of 12 events remained reduced to 7 events only which raised funds at £6,062. Despite this still restricted level of fund-raising, PSC has utilised financial resources in order to donate an amount of £19,756 to worthy causes during the year. It is hoped that the PSC Schedule of Events will return to normal during the year 2022.

Reserves policy

It is the policy of the charity to maintain the free reserves of the charity up to a level of £100,000. For this purpose the trustees define free reserves as being the unrestricted net assets of the charity, less any fixed assets. This will provide sufficient funds to support ongoing applications and to respond to emergency applications for grants which may arise from time to time. Reserves were £62,142 at the year end, which is below the target level. In the trustee’s view, this reflects the pressures arising from the coronavirus pandemic. The Trustees hope to increase the level of income generation in the coming year and believe this will permit some increase in the level of reserves.

Risk management

The trustees have identified the types of risks the Trust Fund faces, prioritising them in terms of potential impact and likelihood of occurrence and identifying means of mitigating the risks. As part of this process, the trustees have reviewed the adequacy of the Trust Fund’s current internal controls which are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:

all grants made have to be approved at the Executive Committee meetings and recorded in the minutes of those meetings;

cheques have to be signed by three Executive Committee members; financial and debtor statements are prepared for each Executive Committee meeting and fully discussed.

The trustees are pleased to report that the Trust Fund’s internal financial controls conform with guidelines issued by the Charity Commission.

Trustees’ responsibilities in relation to the financial statements

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

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping accounting records that disclose with reasonable accuracy 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 the trustees and signed on their behalf by:

R Herman-Smith OBE Trustee

J M Price Trustee

Page 11

Dated Page 11

Report of the Independent Auditors to the Trustees of Pedmore Sporting Club Trust Fund

Opinion

We have audited the financial statements of Pedmore Sporting Club Trust Fund (the 'charity') for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Page 12

Report of the Independent Auditors to the Trustees of Pedmore Sporting Club Trust Fund

Responsibilities of trustees

As explained more fully in the Statement of Trustees Responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

`We identify and assess risks of material misstatement of the financial statements, whether due to fraud and error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

As a result of these procedures we considered the opportunities that may exist within the organisation for fraud resulting in material misstatement in the financial statements. We considered that any such opportunities are mitigated by the fact that the charity is under the close control of its trustees. Our procedures to arrive at this conclusion included the following:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Section 144 of the Charities Act 2011 and regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Nicklin Audit Limited Chartered Accountants Statutory Auditors Church Court Stourbridge Road Halesowen West Midlands B63 3TT

Dated:

Nicklin Audit Limited is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006.

Page 13

The Pedmore Sporting Club Trust Fund

Statement of financial activities for the year ended 31 December 2021

Note 2021 2020
£ £
Income
Events, donations and other income 2 11,234 3,594
Covenants from members: 1(ii)
Subscriptions 2,267 2,929
Income tax recoverable 5,965 5,462
Income received from investments 10,700 11,661
Gains/(loss) on investments 44,706 (25,123)
—————— ——————
Total income 74,872 (1,477)
Expenditure
Charitable donations 3 (19,756) (20,488)
—————— ——————
Net income being net movements in funds 55,116 (21,965)
Accumulated charity fund brought forward 304,301 326,266
—————— ——————
Accumulated charity fund carried forward 359,417 304,301
═══════ ═══════

All fund movements were on unrestricted funds in both periods.

Page 14

The Pedmore Sporting Club Trust Fund

Balance sheet
at 31 December 2021
Note 2021 2020
£ £
Fixed assets
Investments 4 297,275 252,570
═══════ ═══════
Current assets
Debtors due within one year 5 6,555 6,001
Bank deposit account 56,505 47,587
—————— ——————
63,060 53,588
Creditors:amounts falling due within one year 6 (918) (1,857)
—————— ——————
Net current assets 62,142 51,731
═══════ ═══════
Total assets 359,417 304,301
═══════ ═══════
Represented by:
Accumulated charity fund 359,417 304,301
═══════ ═══════

These financial statements were approved by the trustees on and were signed on their behalf by:

R Herman-Smith OBE Trustee

J M Price Trustee

Page 15

The Pedmore Sporting Club Trust Fund

Notes

(forming part of the financial statements)

1 Statutory information and accounting policies

The charity is an unincorporated trust, registered as a charity at Church Court, Stourbridge Road, Halesowen, West Midlands, B63 3TT.

Basis of preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The trust constitutes a public benefit entity as defined by FRS 102.

The significant accounting policies applied in the preparation of these financial statements are set out below.

Income

(i) Raffles and bank interest

Income from these categories is accounted for on a receipts basis.

(ii) Covenants from members

Covenanted income comprises the charitable element of members’ annual subscriptions and income tax recoverable on subscriptions where tax covenants have currently been received. In addition, income tax is claimed on donations, under the Gift Aid provisions, where the Gift Aid certificates have been received.

(iii) Investments

Income from investments is recognised on an accruals basis.

Expenditure

Charitable donations are accounted for as they are paid.

Debtors

Debtors are recognised at their settlement amount due.

Investments

Investments are initially recognised at their transaction value and subsequently measured at fair value at the balance sheet date. Gains or losses on revaluations and on disposals are taken to the Statement of Financial Activities.

Creditors

Creditors are recognised at their settlement amount due.

Page 16

The Pedmore Sporting Club Trust Fund

Notes (continued) (forming part of the financial statements)

2 Events, donations and other income
2021
 2020
£ £ £ £
Events – net proceeds
Annual General Meeting 110 192
World Liar Dice competition 430 -
Quiz Night 606 1,143
Beefeaters Dinner 3,922 -
Pedmore Salver 58 -
Nomads OGC - May 480 -
Nomads OGC - September 242 400
Simulated Game Shoot 215 -
Merchandise sales 125 (49)
—————— ——————
6,187 1,686
Donations
Piscatorials 3,005 570
J Bellfeld 330 -
R Williams BEM 300 -
R Andrews 110 -
—————— ——————
3,745 570
Other income
Lottery 5,210 5,290
Less : prizes (3,908) (3,952)
—————
——————
1,302 1,338
—————— ——————
11,234 3,594
═══════ ═══════

Page 17

The Pedmore Sporting Club Trust Fund

Notes (continued)

(forming part of the financial statements)

3 Charitable donations
2021 2020
£ £
Emily Jordan Foundation 3,760 -
Worcester Snoezelen 2,847 -
Lucy Lewis, gymnast 2,328 -
Arrive Alive 2,150 -
Blueprint Training 1,932 -
Kinship Carers 1,739
Stourbridge RFC school project 1,024 -
Kids, Lye 1,000 1,000
The Fun Club, Wordsley 950 1,125
Crafting for Communities 947 -
Dodford Childrens Farm 537 -
Sensory People 276 -
H'penny Green Air Scouts 266 -
Severn Area Rescue - 3,000
Spectrum Days - 2,520
The Way – W’ton - 2,500
Mary Stevens Hospice - 2,456
Compton Care - 1,000
Action Heart - 1,786
Easter baskets – senior citizens - 1,407
The Haven - 1,098
WM Care - 1,000
Stroke Association - 996
Worcs Comm Fdtn - 500
St Richards Hospice - 100
—————— ——————
19,756 20,488
—————— ——————

Page 18

The Pedmore Sporting Club Trust Fund

Notes (continued)

(forming part of the financial statements)

4 Fixed assets

Investment
s
£
Market value at 31 December 2020 252,570
Additions at cost 122,138
Disposals ( 97,713)
Movement in market value 20,280
—————
Market value at 31 December 2021 297,275
══════

The portfolio of Managed Funds which was acquired in 2012 at a cost of £224,469 has been increased by net accumulated gains of £28,101 to a market value of £297,275. The cost value of this portfolio at the year end was £253,079 (2020: £229,099).

5 Debtors due within one year

2021
£
Gift Aid tax recoverable
5,965

Investment Income
590

—————
—
6,555
══════

6
Creditors
2021
£
Amount due to Pedmore Sporting Club
Limited
918
——————
—
918
═══════
══		 2020
£
5,462
539
————
6,001
══════
2020
£
1,857
—————
1,857
═════

7 Trustees remuneration

The trustees received no remuneration or expenses during the year.

8 Related Party Disclosures

At the year end £918 (2020: £1,857) was due to Pedmore Sporting Club Limited, a company in which the Trustees are Directors.

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