2025-03-31-accounts - The Silverstone Recreational Association

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Silverstone Recreational Association

Charity Number: 269521

Financial Statements for the year ended

31 March 2025

Silverstone Recreational Association Charity Number: 269521 Financial Statements for the year ended 31 March 2025

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 2025

Trustees: M Nash – Chairman M Haynes - Deputy Chairman L Rainey M Broomhall C J Harrison S West R West S Cox (appointed May 2025) 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 2025

The Trustees present their report along with the financial statements for the year ended 31 March 2025. 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 decrease in assets of £102,780 has been achieved primarily due to the refurbishment costs.

Approved by the Trustees and signed on their behalf by:

M Nash - Chairman

C J Harrison - Treasurer

Date: 3 November 2025

Silverstone Recreational Association Independent Examiner's Report to the Trustees

I report on the financial statements for the year ended 31 March 2025, which are set out on pages 4 to 7.

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

--------------------------------------------------------------Mark Ellis CPFA

Date: 3 November 2025

Chartered Institute of Public Finance and Accountancy

6-4-3 Alston House White Cross Industrial Estate Lancaster Lancashire LA1 4XF

Silverstone Recreational Association Statement of Financial Activities for the year ended 31 March 2025

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 Sundry Income Total Incoming Resources Net incoming resources available for charitable purposes Resources expended Charitable expenditure Utilities Field Maintenance Management Maintenance & Administration Refurbishment Insurance Computer and software Cleaning Legal & Professional Accountancy Legal and Professional Depreciation Assets written-off Sundries Total resources expended Net income Funds brought forward Funds carried forward	Unrestricted funds £ - 29,634 13,750 6,230 8,021 52,399 2,093 112,127 112,127 14,126 17,001 41,437 113,027 2,969 4,708 10,539 676 4,313 1,529 - 4,582 214,907 (102,780) 144,507 41,727	Restricted funds £ - - - - - - - - - - - - - - - - - - - - - - - -	2025 £ - 29,634 13,750 6,230 8,021 52,399 2,093 112,127 112,127 14,126 17,001 41,437 113,027 2,969 4,708 10,539 676 4,313 1,529 - 4,582 214,907 (102,780) 144,507 41,727	Restated 2024 £ 9,483 414,267 13,000 4,938 12,250 67,291 9,574 530,803 530,803 8,648 13,495 345 464,681 2,548 5,281 4,195 390 2,355 699 23,397 1,007 527,041 3,762 140,745 144,507

Silverstone Recreational Association Balance Sheet as at 31 March 2025

Notes Fixed assets Tangible assets 2 Current assets Trade debtors Cash at bank and in hand Current liabilities Trade creditors Net current assets Total assets less total liabilities Unrestricted Income Funds	Unrestricted funds £ 13,764 2,948 47,580 50,528 22,565 27,963 41,727 41,727	Restricted funds £ - - - - - - - -	2025 £ 13,764 2,948 47,580 50,528 22,565 27,963 41,727 41,727	Restated 2024 £ 5,457 3,570 141,940 145,510 6,460 139,050 144,507 144,507

Silverstone Recreational Association Notes to the Financial Statements for the year ended 31 March 2025

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:

Equipment 10% Reducing balance

2 Tangible Assets

Cost At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	Plant and machinery £ 6,990 9,836 16,826 1,533 1,529 3,062 13,764 5,457	Total £ 6,990 9,836 16,826 1,533 1,529 3,062 13,764 5,457

Silverstone Recreational Association Notes to the Financial Statements for the year ended 31 March 2025

3 Movement in funds

Unrestricted funds General fund Prior Year Adjustment Total funds	At 01/04/24 £ 609,188 (464,681) 144,507	Net movement in funds £ (102,780) (102,780)	Transfers between funds £ - -	At 31/03/25 £ 506,408 (464,681) 41,727

Net movement in funds, included in the above are as follows:

Unrestricted funds General fund Total funds	Incoming resources £ 112,127 112,127	Resources expended £ (214,907) (214,907)	Capital Expenditure £ - -	Movement in funds £ (102,780) (102,780)

4 Prior Year Adjustment

During the year a prior year adjustment has been posted in respect of expenditure incurred on the refurbishment of the village hall.

Previously expenditure on the refurbishment had been charged as capital expenditure in the financial statements rather than an expense in the statement of financial activities. As such an adjustment for expenditure incurred on the refurbishment has been included in these accounts. The total value is £464,681.

As a result of this the net book value of Tangible Assets has decreased by £464,681 as has the brought forward retained funds.