2021-03-31-accounts - The Silverstone Recreational Association

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Silverstone Recreational Association

Charity Number: 269521

Financial Statements for the year ended

31 March 2021

Silverstone Recreational Association Charity Number: 269521 Financial Statements for the year ended 31 March 2021

Contents	Page
Reference and Administrative Information	1
Report of the Trustees	2
Independent Examiners Report to the Trustees	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Financial Statements	6

Silverstone Recreational Association Charity Number: 269521 Reference and Administrative Information for the year ended 31 March 2021

Trustees:	N Ashby - Chairman
	J Fowler
	D Spink
	S Capewell
	A Kitchin
Trustees for the Charity:	Silverstone Parish Council
Principal Address	The Pavilion
	Church Street
	Silverstone
	Northants
	NN12 8XA
Bankers	National Westminster Bank plc
	80 High Street
	Stony Stratford
	Milton Keynes
	MK11 1AJ

Silverstone Recreational Association Report of the Trustees for the year ended 31 March 2021

The Trustees present their report along with the financial statements for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 6 and comply with the applicable law.

Constitution and Objects

The charity is registered with the Charity Commissioners under the number 269521. The charity was established as previously reported through a trust deed dated 31 December 1974.

The objects of the charity are the provision and maintenance of a village hall, recreation ground and facilities ancillary thereto for the use of the inhabitants of the Parish of Silverstone, without distinction of political, religious or other opinions, including use for meetings, lectures and classes and for other forms of recreation and leisure-time occupation, with the object of improving the conditions of life for the said inhabitants.

Also, to hold the land and buildings belonging to the charity upon trust for the purposes of a village hall, recreation ground and facilities ancillary thereto as aforesaid,

Trustees and Governance

Five trustees are appointed at the Annual General Meeting of the Association to serve for a period of one year commencing at the end of the meeting at which they are elected and expiring at the end of the Annual General Meeting in the following year.

Achievement of the Object of the Charity

The charity has, for a number of years, successfully achieved the objects and has developed funds to enable this work to continue. In the past year, the officers and committee have continued to steer the Association on a fiscally sound path.

Financial Review

The attached papers show the result of activities undertaken in the past year. An increase in assets of £14,133 has been achieved.

Approved by the Trustees and signed on their behalf by:

N Ashby

D Spink

26 May 2021

Silverstone Recreational Association Independent Examiner's Report to the Trustees

I report on the financial statements for the year ended 31 March 2021, which are set out on pages 4 to 6.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the 2011 Act
to follow the procedures laid down in the general Directions given by the commission under section 145(5)(b) of the 2011 Act
to state whether particular matters have come to my attention

Basis of independent examiner's 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 next statement.

Independent examiner's 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 requirements:
to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met; or

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

Date: 26 May 2021

Mark Ellis CPFA

Chartered Institute of Public Finance and Accountancy

Castle Chambers China Street Lancaster Lancashire LA1 1EX

Silverstone Recreational Association Statement of Financial Activites for the year ended 31 March 2021

Incoming Resources Donations, legacies and Similar Parish Council Grants Received Incoming resources from Pavilion Bar Rent operating activities in the furtherance of the Charity Incoming resources from Hall/Room Hire other activities Field Hire generating funds Donations Total Incoming Resources Net incoming resources available for charitable purposes Resources expended Charitable expenditure Utilities Field Maintenance Subs & fees Management Maintenance & Administration Insurance Cleaning Legal & Professional Accountancy Depreciation Sundries Total resources expended Net movement in funds Funds brought forward Funds carried forward	2021 £ 8,441 29,669 1,000 2,690 6,478 1,051 49,329 49,329 7,264 12,780 - 6,020 1,744 3,462 192 2,303 1,431 35,196 14,133 369,210 383,343	2020 £ 8,000 - 5,500 5,920 3,305 62 22,787 22,787 11,596 3,454 180 2,757 3,262 3,469 185 2,183 1,403 28,489 (5,702) 374,912 369,210

Silverstone Recreational Association Balance Sheet as at 31 March 2021

Notes Fixed assets Tangible assets 2 Current assets Cash at bank and in hand Net current assets Total assets less total liabilities Unrestricted Income Funds	37,245	2021 £ 346,098 37,245 383,343 383,343	24,186	2020 £ 345,024 24,186 369,210 369,210

Silverstone Recreational Association Notes to the Financial Statements for the year ended 31 March 2021

1 Accounting basis

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have also been consistently applied within the same accounts.

a Basis of preparation of the financial statements

The financial statements have been prepared under the historical cost convention and in accordance with the applicable accounting standards.

b Depreciation

Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives using the following rates:

Buildings Nil per annum Equipment 10% Reducing balance

2 Tangible Assets

Plant and machinery £ Cost At 1 April 2020 86,355 Additions 3,377 At 31 March 2021 89,732 Depreciation At 1 April 2020 66,702 Charge for the year 2,303 At 31 March 2021 69,005 Net book value At 31 March 2021 20,727 At 31 March 2020 19,653	Buildings £ 325,371 - 325,371 - - - 325,371 325,371	Total £ 411,726 3,377 415,103 66,702 2,303 69,005 346,098 345,024