SURREY LAWN TENNIS ASSOCIATION JUNIOR TRusr REPORT AND AccouKrs FOR THE YEAR ENDED 30TH SEPTEMBER 2024 cop¥rErirs 1-2. Report of the Trustees 3. Independent Examiners Report 4. Statement of Financial Activities 5. Balance Sheet fv7. Notes to the Accounts Charity Registration number- 286344 Page I SURREY LAWN TENNIS ASSOCIATION JUNIOR TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH SEPTEMBER 2024 The trustees present their annual report and financial statements for the year ended 30th September 2024. The financial statements have been prepared in accordance wtth the accounting policies set out in note I to the accounts and comply with the charl￿$ twst deed, the Charities Act 2011 and Statement of Recommended Prattl￿, "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 ISORP 20191" effective l January 2019. CONSTITUTION The charity was established by Trust Deed dated Ilth January 1983 and was subsequently registered with the Charity Commissioners Iregi5tration no. 2863441. OBJECts The charTty was set up by the Surrey County Lawn Tennis Association to receive charitable donations. The Trust Deed states tts main object is to organise or provide or assist in the organisation and provision of facilrties which will enable and encournge pupils at schools and universities in any part of the United Kingdom to play lawn tennis and to provide or assist in the provision of coaching. The trustees confirni they have referred to the guidance contained in the Charity Commission's general gLEidance on public benefrt when reviewing the charitls aims and objectives and in planning future arttvities. ORGANISATION The principal office of the Charrty is Suite 4 (Ground Floor) 79A Grapes House, Esher H$8h Street, Esher, KTIO 90A. TRUSTEES The trustees who served during the year were Messrs. P Bradshaw. D P Howorth. R E Staniland (resigned 18 January 20241 and Ms. A Fox (appointed 18 January 20241- The power of appointment of new trustees vests in the management commtttee of the Surrey County Lawn Tennis Association. TRUSTEES REVIEW The trustees decided to Continue their policy of giving grants to talented juftior tennis players to assist in their tennis development. Grants of £39.5W {2023- £30,050) were made to 49 {2023- 691 junior players. SURREY LAWN TENNIS ASSOCIATION JUNIOR TRusr Page 2 REPORT OF THE TRusfEES FOR THE YEAR ENDED 30TH SEPTEMBER 2023 (continued) FINANCIAL REVIEWAND RESERVES POUCY Funds for investment have been invested rn a portfolio of equities listed on the London Stock Market. The value of the investment portfolio increased by £61,182 during the year. The income for the year in the general fund5 was £37,141 compared to £32.734 in the previous year. Grants have been made of £39.51KJ with governan￿ costs of£504. At the end ofthe year there were undistributed general funds of £3.744. The trust re￿iVed donations during the year of £30.000 from the Vernon Ely Charitable Settlement which have been added to the designated funds. The intention of the trustees for the future is to retarn the current balan￿ in the designated fund5 I£769,2291 to generate income to add to the general funds to distribute as grants for the benefrt of juniortennis players. The designated funds as set out in note 6 represent histori(zl donations which the trustees have chosen to treat as non-distributable and only held for investmenttogether WFth rÈalised and unrealised investment profits. TRUSTEE S RESPONSIBILmEs IN RELATION TO THE FINANCIAL sfATEMEN75 The charty trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and Untted Krngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the thartty trustee5 to prepare finaricial statements for each year whith give a true and fair ￿eW of the state of affairs of the charrty and of the incomtng re50urce5 and application of resources, of the charwty for that period. In preparingthe financtal statements, the trustees are required to: select suitable accounting policies and then apply them consistently- observe the method5 and principles in the applicable thariiies SORP- make judgernents and estFrnates that are reasonable and prudent- ' state whether applicable accounting standards have been followed. subjertto any material departures disclosed and explained in the financial statement- prepare the financial statements on the going COn￿M basis unless it is inappmpriate to presume that the charity will continue in business The trustees are responsible forthe Maintenan￿ and integrity of the tharity an(1 financial information inclijded on the ch3rity's website. Legislation in the Untted fingdom goveming the preparation and dissemination of financial statements may dtffer from legislation in other jurisdictions. BY ORDER OFTHE TRUSTEES D P Howorth Trustee 10 (ktober 2024 Page 3 Ind¢per￿ent Examibw's RÈportto theTrusteesof Surw Lawn Temts A$50dation JuniorTrust (thé Charity'l I report to the Charity trustees on my examination of the accounts of the tharity forthe year ended 30 September 2024. This report is made solelyto the Ch8riV5 trustees as a body. in accordance with Part4 of the Charitie5 (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the chaFity's trustees those matters l am required to state to them in an independent examinels report and for no other purpose. To the fullest extent pemiitted by law. I do not accept or assume responsibility to anyone other than the Charity and the Charity'sTrustees as a bocty. for my work or forth￿ reporL Responsibillties and basls of report As the trustees of the Charity you are responsible forthe preparation of the accounts in accordan￿ with the requirements of the Charities Act 20111'the 2011 Act'l. I report in respect of my examination of the Charity's accounts ca￿1ed oui urtder section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the ChaTity Commission under section 14515llbl of the 2011 Act Independent examinersstatemert Your attention is drawn tothe factthatthe Charity has prepared the accounts in accordance with Accounting and Reporring by ChaTlties= Statement of Recommended Prèctice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting St3nd3rd applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Chartiies- Ststement of Recommended Prattl￿ issued on l April 2005 which is referred to in extrant reEulation5 but has been withdrawn. l understand thatthis has been done in orderforthe accounts to provtde a true and kir view in accordance with Generally Accepted Accounting Practice effertlvefor reporting periods beginniningon or after l january 2019. I have completed my examination. I confim that no matters have come to my attention in connecbon with the examination giving me rduse to believe that in any material respect.. l. accounting records were not kept in respert of the charity as required by section 130 of the 2011 ACL" or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the applicable rquirements concerning the form and content of accounts set out in the Charities (Accounts and Reportsl Regulations 2tK)8 other than any requirement that the accounts give a'true and fairt view which is not a matter considered as Part of an independent examination. I have no concems and have come atross no other matters in connettion with the examination to which attention should be drawn in this report in orderto enable a proper understanding of the accounts to be reached. Signed Jomes Peoch FCA Kreston Reeves LLP ChorteredAccountonts Springfield House Springfield Roud Horshom West Sussex RH12 2RG Dote." 21 November2024 Page 4 SURREY LAWN TENNIS ASSOCIATION JUNIOR TRUST STATEMENT OF FINANCIAL A￿[VITIEs FOR THE YEAR ENDED 30TH SEPTEMBER 2024 Generdl Funds Designated Funds Total Funds 2024 2023 Notes INCOMING RESOURCES Incoming Resources from Generated Funds Interest Dividends Donations 316 36.825 316 36.825 30,000 573 32,161 130,000 30,(M) Total Incoming Resources 37,141 30,C 67,141 162,734 RESOURCES EXPENDED Charitable Activities Grants 39.500 39,500 30,050 Govemance Costs 504 504 482 Total Resources Expended 40.004 40,004 30,532 Net Incoming loirtgoingl Resources {2,8631 30.000 27,137 132,202 Gains ILosses) on Revaluation of Investments 61,182 61,182 23,474 12.863) 91,182 88,319 155,676 Total Funds Brought Forward 6,607 678,047 684,654 528,978 Total Funds Carried FoThvard 3,744 769.229 772,973 684,654 The notes on pages 6 and 7 form a part of these accour Page 5 SURREY LAWN TENNIS ASSOCIATION JUNIOR TRUST BALANCE SHEET AS AT30TH SEPTEMBER 2024 2024 2023 Notes FIXED AssErs Investments 764.537 672.365 CURRENT ASSETS Debtors Cash at Bank 538 8,898 9.436 609 11,980 12,589 CREDITORS- Amounts Falling Due Within One Year Sundry Creditors 3CNJ NEf CURRENT ASSETS 8.436 12,289 NET ASSETS T12,973 684,654 FUNDS Designated Funds General Funds 769,229 3.7fy1 678,047 6,607 772.973 684,654 Approved by the Trustees on 10 October 2024 D P Howorth, P Bradshaw, A Fox Page 6 SURREY LAWN TENNIS ASSOCIATION JUNIOR TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024 l. AccouMfiNG POLICIES al Accounting Convention The accounts Ifinancial statements) have been prepared in accordance wtth Accounting and Reporting by CharTtÈes= Statement of Recommended Prartice applicable to charÉties preparing their accounts in accordance with the Financial Reporting Standard applicabbe in the UK and Republic of Ireland IFRS 1021 leffective l January 20191 and the Charities Act 2011 and applicable regulations. No statement of cash flows has been provided as the charty is small under the Charities Act SORP IFRS 1021. The financial statements are presented in sterling and rounded to the rbearest £1. bl Fund Accounting The general funds comprise funds generated from investment and available for distribution. The designated fund5 consist of donations received which the tTUStees have resolved to invest to generate income available to be distributed. The designated funds also include realised and unrealised gain5 from investment. cl Investments Investments held which are quoted on the UK Stock market are stated at their open Ma￿et value at the year end. Other investments which are not quoted are stated at cost. d} Accruals basis Both income and expenditure are accounted for on an ac¢rua15 basi el Going concern The financial statements have been prepared on a going concern basis as the tnjstees believe that no material uncertainties exist. The tnjstees have considered the level of funds held and the expected level of income and expenditure for 12 months from aUthOr￿Ing these finaricial statement5. The btjdgeted income and expenditure is sufficient with the level of re5eTves for the charty to be able to continue as a going concem. 2. GOVERNANCE C05tS 2024 2023 Portfolio Administration Fees 504 482 3. GRANTS All grants were made to assist juniortennis players in their development in the sport. Page 7 SURREY LAWN TENNIS ASSOCIATION JUNIOR TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024 Icontinuedl 4. INVEStMEWS Opening Balan Addrtions Disposals Revaluation Closing Balance UK Ly5ted Investments held indirectly 672.365 34,992 14.(X)21 61.182 764,537 5. TOTAL FUNDS General Designated Funds Funds Total Fund5 Balance Brought Forward Movement in Funds for the Financial Year 6,607 678,047 {2,863) 91,182 3,744 769,229 684,654 88,319 772,973 6. DESIGNATED FUNDS 2024 2023 The Vernon Ely Fund The Surrey Tennis Fund The Norman Latchford Fund Gains ILossesl from Investments 240,5(x) 447,OtX) 210,500 447,000 2,000 18.547 678,047 79,729 769,229 7. TRUSTEES REMUNERATION None of the trustees received any remuneration. benefits in kind or reimbursement of expenses during the current or prior year. 8. RELATED PARTY TRANSACTIONS There were no related party transactions during the current and prior year.