sc
Financial Statements
For the Year Ended
31 December 2024
For
The Pedmore Sporting Club Trust Fund
Reglstered Charity No. 263907

Pedmore Sporting Club Tiust Fund
Trustees, retY)rt and financial statements
31 Decernber 2024
Trustees, report
The trustees present thelr rewrt along with the financial statements of the charlty for the year ended 31 December
2022. The financial statements have been prepared in accordance wlth the accounllng policies set out on page 13 and
comply with the charllies trust deed, the Charities Act 2011 and Accounting and Repo￿ng by Charilles.. Statement of
Recommended Practice applicable to charitie5 preparing their accounts in accordance wtth the financièl Reporting
Standard applicable in the UK and Republk of Ireland published on 16 July 2Ql4.
Trustees
R Herman-smllh OBE
R Williams BEM
J M Price
P B Pio15 (reslgned 4 July 20241
J S WhitehDuse
M J Bellfield
G Knowles {appoinled 20 November 2024}
Constitutlon and objects
The Pedmore Swrting 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 tc> utilise the monies whlch 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 serviTrs.
Organisation
The tiustees who have served durlng Ihe year and slnce the year ended are set out above.
A panel comprising existing trustees, pasl presidents and committee metnbers {"the Executive Committeej nominates
members for aPF)oinlment to the trustee btsard. Members of the Club In general meeting confirm those nominabons.
Trustees seNe for an indefinite terrn. The Executive Commbitee meets quarterly to asse55 grant applications and, in
some instance5, rnight nomiriate s¢>meone to Interyiew Individual grant appllcanls. On these (Kcasions the nominees
re￿rt back to the Executive Committee, which will then approve or refuse grants. All members are Snforrned of the
historyi objectives and policies of the Trust Fund upon the completlon of the membership proce55.
Appolntlng new trustees
New trustee5 are appointed from Pedmore Sporting Club Past Presidents who have held the office of Pedmore SpDrbng
Club President and Pedmore Sp)rting Club Chairman for the formal requirement of two years for each office following
seNlng as a Pedmore Sporting Club comm(itee member during the years preceding their tenure.
Grant making policy
The Trust Fund considers applications for funding or projects from individuals or institulionsi preferably locally based,
provided the applicatlon sadsfies the crbteria set out Sn the Trust Fund's objects. In considering applications the trustees
have had due regard to guidance Issued by the Charity Commissbon on public benefit.
Flnanclal revlew and investment policy
shown in the statement of financial attivitles on page 14, there has been a Increase in total income for the year of
£25,342 to a surplus of £28,275, mainly because of more favourable market value movernents on investments
compared to last year. Income actually received from the Income InvestrnerTrl Portfolio was £13,883 for the year 2024,
but there was a net fall in market value of the rH)rtfolio of £9,298, which appears On page 14. Donations paid in the
year were £38,029 as detailed on page 18.
The only restricknon on the Trust Fund's tx)wer to invest is that the funds are not immediately requlred and are only
invested In legally authorised investments.
Achiovement and Performance
During the perlod the Trust made donation5 amounting to £38,029 12023.. £30,289), which included donatlons of
£3,500 to Compton Hospice, £2,000 to each of the five other local hospice5, and £2,500 to the Havel), Wolverhampton.
Page 10

The Pedmore Sporting Club Trust Fuiid
Trustees, report and financial statements
31 December 2024
Trustees, I'erjort Iconunuedl
The annual schedule of events Included 10 event5 which raised funds of £9,478. PSC lias ulilised financial resources
in Drder to donate an amount of £38,029 to worthy cauges during the year. It is hoped that the PSC Schedule of
Event5 wlll expand further during the year 2024.
fte5erve5 policy
It Is the policy of the charity to maintain the free reserv￿ of the charity up to a level of £IOO,000. For IhI5 purpose
the trustees define free reseNes as being the unreslrirted Iiet assets of the charity, less any fixed asset5. This will
provide sufFicient funds to support ongoing applications and lo respond to emergency applications for grants which
may arise Irom lime lo time. Reserves were £54,492 at Uie year end, wl)ich is Iklow the target level. In the
trustee's view, thi5 reflects the pressures arising IrDm the coronavirus pandetnic. The Tiustees hope to increase the
level of incorne generèllon in the comlng year and believe this will pern)it some increase in the level of reserves.
Risk iiiaiiagement
The tXUStees have identified the types of risks the Trust Fund faces, prtorilising them in terEns of potentl31 impact and
likelihood of occurrence and identifying ffleans of miligaling the risks. As part of this proce55, the trustees have
reviewed the adequaiy of the Trust Fund's current internal controls which are desigried to provide reasonable, but
not absolute, assurance against material mis51atement or loss. Tliey include..
11 grant5 made have to be approved al the Executive Committee meetings and recorded in the minutes of
tliose meetings,.
cheques havc l(> be slgned by three Executive Committee members;
finaiicial and debtor 5taleffjents ale prepared for each Execub"ve Con)mittee meeling and fully discussed.
The trustees are pleased lo report that tlie Trust Fund'5 Internal financlal contro15 conform with guideliiie5 issued by
the Charity Commission.
Ti'ustees, responsibilities in relation to the financial statemeiits
The trustees are responsible for preparing the Annual Report and the financlal Statements in accordance with
applicable law and United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales require5 Ihe trusl'ees to prepare financial slatenienlg for each
finaiicial year whicl) qive a tiue and fair view of the state of affairs of the charity and of the incoming re50urces and
application of resources of the charity for Ihat perlDd, In preparing these financial statements, the trustees are
required to..
select suitable accounting policies and then apply them con515tently
ob52rve the tnethods and principles in the Charitie5 SORP,.
nTrake l￿dgeMentS ènd estimates that are reasonable and prudent,.
State whether" applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financlal slatemenls,.
prepare the financial statements on the going concern basis unless it is inappropriate to presurne that the
charity will contiiiue in operation.
The trtjstees are responsible for keeping accounting records Ihat disclose with. reasonable accuracy the ffinancièl
P051tion of the charity and enable Ihern to ensure that the financial statements comply with the Charitie5 Act 2011,
the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible
for safeguarding the 3s£ets of the charity and hence for taking ieasonable Steps for the prevenl'ion and detection of
fraud and Dther irregularities.
Approved by the trustees and signed on theii" behalf by..
R Herman-smilh OBE
Trustee
J M Price
Trustee
Dated
l/¢/? C
Page 11

Report or the Independent Auditors to the Trustee5 of
Pedmore Swrting Club Trust Fund
Opinlon
We have audited the flnanclal statements of Pedmore Sty)rting Club Trust Fund (the 'chaTity'I for the year ended 31
De￿mber 2024 which comprlse the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and
notes to the financial sldlemenls, including a SLimmary of significant accounting t￿lIcies. The financial report£ng framework
that has been applied in their preparation is applicable law and United Kingdom Accounb'ng Standards (United Kingdom
Generally Accepted Accounting Practice).
In our opinlon the financial statements..
give a true and fair view of the state of the charity's affairs a5 at 31 December 2024 and of Its incoming resource5
and appllcalion of resour￿5, for the year then ended.
have been properly prepared in accordance with Unlted Klngdom Generally Accepted Accounting Prattice,. and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conduclod our audit in accordance with Internatlonal Standards on Auditing (UK) (Is￿ (UK)) and appllcable law. Our
restK)nsibilities under those standards are further described in the Auditors restK)nsibiltties for the audit of the financial
statements section of our report. We are independent of the charitable company in accordance with the ethical
requirernents that are relevant to OLir audit of the financial statements in the UK, including the FRC'S Ethical Standard, aiid
we l)ave fulfilled ourother ethical reswnsibilities in accordance with these roouirements. We belleve that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our oplnion.
Concluslon5 relating to going concern
We have nothing to re￿rt in respect of the following matters in relation to which the ISAS IUKI require us to reFK)rt to
you where:
the trustees, use of the going concem basis of accounting in the preparolion of the financial statements Is not
appropriate,. or
the trustees have not disclosed in the financial statements any Idendfied material uncertainties that may cast
significant doubt about the charity's ability to continue to adDPt the going concern basis of accounting for a period
of at least twelve months from the date when the financial statements a¥e authorised for I55ue.
Other informatlon
The trustee5 are responsible for the other Information. The other infoTmation compdses the information included in the
annual report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinlon on the financial statements does not C￿er the other information and, ex￿pt lo the extent othe¢wise explicitly
stated in our report, we do not expre￿ any forffl of assurance concluslon thereon.
In connecknon with our audit of the financial slatements, our responslbility is lo read the other information and, In dolng
so, consider whether the other informab'on is materlally inconsistent with the finallci31 statements or our knowledge
obtsined In the audit or otherwise appears to tE nTraterially mlsstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to deteimine whether there is a material fflisslatement in the financial
statements or a material Misstatement of the other informatlon. If, based on the work we have performed, we conclude
that there is a material niisslalement of this other information, we are required to report that fatt. We have nothing lo
report In this regard.
Matters on which we are required to report by eX￿ptIOn
We have nothing lo report in rest*ct of the follc>wing matters where the Charitles Act 201L requlres us to report to you if,
in our opinicin-.
the information glven in the Report of the Truste￿ 15 inconslstent in any matedal respect with the financial
statements ' or
the ch3rity has not kept adequate accounting records,. or
the financial statements are not in agreement with the accounting records and returns: or
we have not ¥eceived all the inforrnation and explanations we require for our audlt.
Page 12

Report of the IndepeiidenL Auditors to the Trustees of
Pedmore Spoiting Club Trust Fund
Responsibilities of trustees
As explained more fully In the Statement ol Trustees Responsibil￿tIes, the li uslees are responsbble for the preparation or
the financial statements an(J for being satisfied that they give a true and fair view, and for such internal control ag the
trustees determine is necessary to enable tlie preparation of financial statements that are free from materi31
misstatement, whether due to fraud or error.
In preparing the financial slalemenls, the trustees are responsible for h5sesslng the charity's ability lo Continue as a
going cuiicern, disclosing, 3£ applicable, matterg related to gDlng concern and using the going concern ba￿S of
accounting unless the tru5tee5 either intend to liquldate the charity or to ce35e operations, or have no realistic
Iterna¢ive but to do 50.
Oiii. respoh15Èbilitios foi. the audit of tlie financial stat'emeiits
Our objectives are to obtain reasonable assurance about whether Ilie fifiallclal statements as a whole are free from
niaterial misstatement, whether due to fraud or error, and to 155ue a Report of the Independenl Auditors Ihat include5
our oplnion. Reasonable assurance Is a l)Igh level of assurance, but is not a guarantee thal an audit conducted in
accordance with ISAS IUK) will always detect a m8leridl missldlenient when il exists. Misslalemenls can aiise from fraud
or error and are considered materlèl if, Individually or in the aggregate, they could reasonably be expecLed to influence
the etonomic decisions of users taken on the ba515 Df these financbal statements.
' We identify and assess risks of material misslateinent of Ihe financlal gtatements, whether due to fraud and error, and
11)en deslgn and perform audit. procedures responsive lo those risks, including oblaining audil evidence Ihot is sufficient
and appropriate to provide a basis for our opinion.
In ideiilifying and assessing risks of material misstatement in respect of iriegularities, including fraud and noii-
compliance with laws ond regulations, we considered the folbwing:
the nature ol the indvstry, control environment and buslness performante,.
resulls of our enquirles of monagement about theii. identification and asse55tnent of the risks of irregularities,.
any matters we have identified having reviewed the charity's procedures for complying with laws and regulations and
whether they were aware of any instances of non-compliance. Tlie key laws and regulatlons we considered in Iliis
context included the Charities Act 2011.
A5 a result of these procedures we considered the OPPDltunities that may exist within the organisatlDn for fraud resulting
in rnaterial misstatement in the financial 51atenients. We considered that any such opportunities are mitigated by the
fact tliat tlie charity is under the close control of its truslees,
Our procedures to arrive al this conclusion included the following:
reviewing balance sheet control accounts lo ensure properly reconclled,.
performing analytical procedures lo idenllfy any unusual or unexpected relationships that may indicate risks of material
misstatement due to fraud,.
enquirlng with management concerning aclval and potential lil'igation clalms.
A further description of our responsibilities for the audit of the finaiicièl statements Is located on the Financial Reporting
Council's website at www.frc.org.uk/auclilorsresponsibilities. This description form5 part of our Report of the
Independent Auditors.
Use of oui. IEport
I"his report is made solely to the charity's Iruslees, as a body, in accordance with Section 144 of the Ch3rilles ACL 2011
and regulation5 made under Section 154 of thst Act, Our audit work has been undertaken so that we might State to tlie
charity's tru51ees those matter5 we are required to state to them in an auditors, report and for other purpose. To the
rullest exteiit perniitted by law, we do not accept or a55ume ￿SpOnsibl11fy to anyone other tlian the charity and the
charity's trustees as a bodyi for our audit work, for thls report, or for the opinions we have forffled.
ULWL Ilu C￿L.
NIC￿1￿ Audit LimilEd
Chartered Ar.countapls
Statutory Auditors
Churcli Court
Stourbridge Road
Halesowen
Wesl Midlands
B63 3Tt
Dated..
Nicklin Audit Limited is eligible to act ag èn auditor in terms of Section 1212 of the Conjpanles Act 2006.
Page 13

The Pedmore Sporting Club Trust Fund
Statement of flnanclal èctlvltles
for the year ended 31 December 2024
Note
2024
2023
Income
Events, donations and other income
Covenants from members..
Subscriptions
Income tax recoverable
Income received Irom investments
Gains}Ilossl on Investments
16,751
9,410
1,324
5,614
13,884
19,298)
4,203
5,044
13,912
{29,636)
Total income
28,275
2,933
Expenditure
Charitable donations
(38,029)
(30,289)
Nel Income belng net movements in funds
19,754)
(27,356)
Accumulated charity fund brought foEward
277,653
305,009
Accumulated charity fund carried forward
267,899
277,653
All fund movements were on unrestricted fund5 in both period5.
Page 14

The Pedtnore Sporting Club TrusL Fund
Balance slieet
at. 31 Decembei. 2024
Note
2024
2023
Fixecl assets
Investmpnts
213,407
222,705
Current assets
DebLors due within one year
Bank depc>sit account
5,239
51,441
57,814
57,814
56,680
Creditoi's: amoun15 falling due within one year
(3,322)
11,732)
Net current assets
54,492
54,948
Total assets
267,899
277,653
Rey)reseiited by.,
Accumulttted charity fund
267,899
277,653
These financial sLatemeiits weie approved by the trustees on
nd were signed on their behalf by..
R Herman-smith QBE
Trustee
J M Price
Trustee
Page 15

The Pedmore Sporting Club T¥ust Fund
Notes
(formir¥g part of the financial statemen15)
statutory information and ac¢ountlng policles
The chartty Ss an un[ncor￿rated trust, registered as a charity at Church Court, stQUTbiidge Road, Halesowen,
West Midlands, B63 3rr.
Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognlsed at
cost or transacbon value unless Otherwi￿ stated in the relevant nole{s1 to these accounts. The financial
statements have been prepared in accordance with the Statement of Recommended Practlce.. Accouniing and
Reporting by Charlties preparing their accounts in accordance with the Financial Reportlng Stsndard applicable
In the UK and Republic of Ereland {FRS 102) issued on 16 July 20É4 and the Financial Reporting Standard
appllcable In the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The trust consb"tutes a public benerrc entity as defined by FRS 102.
The significant accounting policles applied in the preparation of these financlal statements are set out below.
Income
Raffles and bank interest
Income from these categories is accounle(J for on a receipts basis.
Covenants from members
Covenanted Income comprises the charttable element of members, annual Subsc￿pIlOnS and Income
tax recoverable on subscripllons where tax covenants have currently been received. In addition,
Incorne tax is clairned on donations, under the Gift Aid provisions, where the Gift Ald certificates have
been Teceived.
Investments
Incorne from investments Is rec￿nISed on an accruals bèsls.
Expenditure
Charitable donations are accounted for as they are paid.
Debtors
Debtors are recconised at their settlement amDvnt due.
Investments
Investments are inlllalty reci￿niSed èt their transaction value and subsequently measured at fair value at the
balance sheet date. Gains or losses on revaluatlons and disposals are taken to the Statement of Financial
Activities.
Creditors
Creditors are recognised at thelr settlement amount dije.
Page 16

The Pedmore Sporting Club Trust Fun
Notes (contlnuedl {forming part of the financial staternents}
Events, donations and other income
2024
Events- net proceeds
Beefeaters Dinner
Celebrity Lunch
Quiz Night
Simulatecs Game Shoot
C Invitation
World Liar Dice ci)mpetition
Nomads- May
Annual General Meeting
Pedmore Salver
Christmas Lunch
Miscellancous Prizes c05t
Merchaiidise sales surplus
3,520
3,371
948
560
458
428
145
25
146
to
(133)
1,687
434
570
134
450
135
61
190
{88)
107
9,478
3,680
Donations
Piscitorials
J Bellfield
) Mtsrris-Adams
Rex Williams
M Raybould Family
CameTon Homes
J Tainton
D&%Lee
JAsh
The Fun Club
G Knowles
P Ca￿right
3,000
1,150
123
20CI
235
400
290
1,000
446
300
394
3,000
loo
55
5,848
4,845
other Income
Lottery
Less '. prizes
4,680
(3,235)
4,590
{3,7051
1,425
885
16,751
9,410
Page 17

The Pedmore Swrting Club T¥u5l Fund
Notes (contlnued)
(forming part of the financial ststements)
Charltable donatlons
2024
2023
Brierley Hill Babybank
Lucy Lewisi gymnast
Fun Club
Hospices
St Richard's
Acorns
Mary Stevens
Kemp
Cotllpton
Primr05e
The Haven, Wolverhampton
Crafting for Communitie5
Lion Farm
Donna Carter
Brit15h Disabled Angllng Ass(Klation
Dudley District West Scouts
All Stars Youth Club
The High Riders
S Barber
The Kingswood Trust
Priory Park Boxing Club
M Packer
Options For Life
Klds
Halfpenny Green Alr Scouts
High Acres
Qmphill Village Trust
Nobby Knowles Charity
Wollaston Tea Pa
We Love Carers
More Mascots
Childhcx)d Cancer Parents AssocIa￿on
Read Easy Dudley
Black Country Brighter Llves
Bee Well Schools
Riverside Stourbridge CEC
Prostate Cancer Charity
Worcester Communbty Fund
Cadrene Supported knving
Severn Area Rescue Assoclation
Springs Church
rive Live
1,500
1,270
800
1,850
1,270
800
2,000
2,000
2,000
2,000
3,500
2,000
2,500
4,406
2,25
890
2,302
2,700
500
300
795
3,500
635
755
1,053
I,cK)o
1,000
1,000
1,083
1,000
I,OOD
200
500
1,800
711
1,000
1,895
245
550
1,000
500
500
1,500
I,IOD
1,080
2,040
1,000
1,000
500
1,000
1,000
1,608
38,029
30,289
Page 18

The Pedmore Sporting Club Trust Fund
Notes (continued)
Iforrning part of the flnanclal ststemenls)
Fixed assets
Investments
Market value at 31 December 2023
Addltlons at cost
DiS￿saI5
Movement in market value
222,705
54,250
(56,6881
16,860)
Market valtje at 31 December 2024
213,407
The portfolio of Managed Funds which wa5 acquired in 2012 at a cost of E224,469 has been decreased
by nel accumulated losses of £11,062 to a market value of £213,407. The cost value of this portfolio at
the year end was £241,590 {2023'. £253,160).
Debtors due withTn one year
2024
02
Gift Aid tax recoverable
Investment Income
5,044
195
5,239
Creditors
2023
Amount due to pedm0￿ Sporting Club Llmlled
3,322
1,732
3,322
1,732
Trustees remuneration
The trustees received no remuneration or expenses during the year.
Related Party Disclosures
At the year end £3,322 (2023.. £1,732) was due to Pedmore Sportlng Club Llrnited, a company in which
the Trustees are Directors.
Page 19