## 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| 1 **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 2 **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 3 ## **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**| |---|---|---| 4 ## **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| |---|---|---|---|---| 5 **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| |---|---|---| 6