REGISTERED COMPANY NUMBER- 188704 (England and Wales) REGISTERED CHARITY NUMBER.. 297633 ort ofthe Trustees and Una Year Ended 31 December 20 for Bude Haven Recreation GmurKt Metherell Gatd Ltd Chartered Accountants Burn Vi Bude Cornwall EX23 8BX
Contents of the Financsal Ststements for the Y8ar Ended 31 December 2024 Pagè R8POrt ofthe Trustses Indepgndgnt Examlneffs Report Statement of Flnan¢lal Aetivities Balance Sheet Notes to the Financial Statements
Bude Haven Recreation Ground Re ort of the Tnjstees rthe Year Ended 31 De¢ember 2024 The trustees who are 8150 directors of charity for the purposes ol the Companies Act 2006. present their teport with the finanaal statements of the charity for the year ended 31 Dember 2024. The twstees have adopted the provisions ol Accounting and Reporting by Charities.. Statement ol Recommended PractKe applicab to charili8s preparing their counts in accordafi with the FinaThual Repotkng Standaid applKable in the UK Repthli¢ of Ireland IFRS 1021 leffective 1 January 20191. Ttr financial statements have been prepaf8d in accoi(lanca Wbth the accounts.ng poliaes set OLrt in notes to the accounts and comply wrth the chantys governiNJ do(Ment. the CharitEs Act 2011 and Accounting and Reporbng by Charities.. statetnent ol Recommervjed Piactice applicable to chari118s. preparing Ih8ii accoun15 in accordan with the Financial Reporting Startrjard applicable in the UK Reputlic of Irdarkl. leff8ctivg 1st January 20191 OBJECTIVES AND ACTIVITIES original charter slaies that the cornpanvs aim is to promde leisure facilitEs for local rRople and lIdaY W51tors at an affordable price. Furtherrrore, the company has operated a policy which is lair both in principle and pracb'ce. The trustees aim to achieve this by ploYIng the fcAbwing strategs.. al Seeking to prcynote the avaiLability of the varsou5 facilits'85 provid8d, to m8mber5 01 the public locally and by encouraging membershlp ol the ineumtpnt clubs (tennis club. squash club and bowL% clubl. bl Ensuring rllaintenan, upkeep and where possible upgrading of facilities 15 made on a regular b8SiS. The ttjstees ffllt 8nsure th8 ¢ornpany remains profitable for ts survival and price incre85è5 reffect Ihis. However. the lIdg of a substantial profit is noi an objectsve. The companys assets are hdd to pemirt il to operate su$$fullY in accordan with ils charter. The freehold property ancl prnIses. its rnajor asset. is in a unique posikn'on where environmental sensilivty calls for very careful rnanagement. In setting their objectives and planning their activities the trustees have given careful con$ideratson to Ihe Charity Commissions general guidan on public benerrt. There have been no material changes in Mpany$ polioes in the past year. ACHIEVEMENT AND PERFORMANCE During the year the Trustees have achieved the main aims and objectives ol U)e charity, by prornoting the faCile$ and maintaining them to a high standard. This has to continued use ol the facilitie5 by local pwple individualty and through membershp ol dubs and by holiday visitors. FINANCIAL REview Financial position The oynpanys a¢wnts show a net surF4us of£42,010, ccynpared to £24.697 in 2023. IncomirrfJ $Our show a inc¥ease of £48,g99 from £119,824 in 2023 to £168,823 in 2024. The companws principal funding SOU is the provBion of faalith"es. The majoftty of income received Is trom the prowsion of crazy goll and ten. Resource5 expended have increased by £31,686 Irom £95,127 2023 to £126,813 sn 2024. At year end. the total fund balance including share r2pita arnounted to £341.938 1£299.928 20231. Al fijnds are drned unr8stricted. Res8rv85 8r8 mainly held in the fom of fix8d a5set5 which are required to meet the Company. obJ"ectwes. and cash and bank balances which are required lo fund ongoiw tnainlenan and itnprovements. The company currently has sufficpnt liquid resources to meet its cufnt liabilities as they fall du8. Page 1
Bude Haven Recreation Ground ort ofthe Trustees forthe Year Ended 31 December 2024 FINANCIAL REVIEW Reserve5 policy The unrestricted reserves of the o)mpany are £341.938 at the year end aThJ a substsntral part ol tme reserves is th8 tangible fixed assets empli)yed by the company for its charitable purpose. The trustees believe that for finan81 st8bility Ihe available reserves (the net current assets) Shou be at ast sufficient to cover costs for a perK)d of 1ve rnonths. The cts for 2024 am(yJnted to arourwJ £126,000. In addition. the trustees also recognise that reserves have to be set aside for futu refuthshment of facilib.es it provid&5. The trustees belEve that the r85erves need to b8 buijt up on a rolling basis to cover £70.0 o)sts over a ten year pgri(xl. The trustees are also awarè of one other risk. As the ccthpany ha$ failed to obtain floLxI insuran. trustees bèliavè that Is is important to create a ftood fttrnd reserve. The level ol the reserve unknown but the tnjstees believe that is sensible to aim to build a reserve of£100,CQO+ TherefoTe in total the trustees believe the net current assets should be beeen £126.ry)O and £296,000. The available reserves at the yearend were £164,971 which falls into the lower end olthis range. Golng concem There are no material uacertaintie5 overgoin9 concem. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing Document The charty is a private company limited by shaw which is wistered in EThJland 8nd Wale5. Its goveming document its Memorandum and Arbcles ofAssociation, as amended on 16th May 1987, wh8n charitable status was granted. Appolnfment of Trustees Trustees are appointed by invitation from serving trustees. Organlsation The board of trustees meei formally every two months. Matters arising btheen meetings are gr&llY handled by Ihe chaimian orthe secretary, with due delegated authority. who will report back at the next meeting. Indu¢tlon and training of new tru$tees Trustee5 are aware ol their gaI ub1vJatn5 under charity atvj company law. New trustees repxve a pY of the company's MemoraThJum and tie$ of Association. and are made awa of procedures at trustee meebngs, the derisi making proTrss, and the rent finawal Perfoman ofthe charity. In the event of a new 8ppointmÈnt, thè company sècretsry and the thalrman are ioinuy tharged with briefing a new trustee on their oblig3tions. External training identified by the board. which considered to be useful for the ongoing stewardship of Ihe charity. is 8liended by the trustees wh8never possib. Retated Parties ha5 been no reimbursement of expenses or remuneration to trustees during the perkid. Tran58etions t£lween the cornpany and the individual clubs are not con$thd to be lated paty transathons. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 188704 (England and Wales) Reglster8d Charity number 297633 Registered office Leven Terra Bude Comwall EX23 8LA Page 2
Bude Haven Recreation Ground Re ort of the Trustees for the Year Ended 31 December 2024 Trusteos Mrs K E Srneeth A Bennett N E Tucker MASlee K Page Mr5 S A Pringle G K8at N Gleed Ms K H8slop Ms A Wnatsley - resigned 18th Jamary 2024 - sppointed 14th March 2024 Company Sècretsry Mrs L lfjnsman Independent Examiner Metherell Gard Ltd Charter8d Accountants Burn Vi8W Bude Cornwall 23 88X This report has been prepad in acCOrdae wrth tr speck31 prowsions of Part 15 of the Companw Act 2CQ6 Telatiro to small companies. zfj Approved by orderof the board ol trustees on ................. ......... ................. and sigrtd on its behalf by.. 9- Trustee Page 3
Inde endent Examiner's Re ort to the Trustees of Bude Haven Recreation Ground I report lo the ¢harity Iruslees on rny exarninalion of the accounts of the Company for the year endtd 31st D¢¢ember 2024. Responsibilities and basis of report As the charity's trustees of the Cornpany land also its directors for the purposes of company lawl you are iesponsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 20[ Act'i. Having satisfied myself th81 the 8ccounls of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in resped of my examination of your charity's accounts as carried out under section 145 of the Chaiities Act 2011 I'lhe 2011 AGt'}. In ¢airying (xjl my exarnination I have fdlowed the Direclions given by the Charity Commission under section 145{51 Ibl of the 2011 Act. Independent examlnèrfs statément Since my fim also helps with the bookkeeping for the Cornpany I must be a member of a body listed in section 145 of the 2011 Act, which has adopt8dl is subject to the provisions of th8 R8vised Ethi(21 Standard 2016 issued by the Financial Reportillg Counal IFRCI. I confirm that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accountants In England and Wales. whlch Is one of the listed bodies. In addition I confimi in my view the Company ha5 "informed management" and the trustees have made such judgments and decisions that are needed in relation to the pr859ntatson arKI disclosu of informalion in the financial stalements (accounts) examined. l am not personally the bookkeeper, and do not ieptsrt to the bookkeeper. I have completed my examination. l Confirm that no mattèrs have comè to my attention in connection with the examination giving me cause to believe-. accounting records We not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord wllh those records,. or the accoltnts do not comply with the accounting requirements of section 3 01 (he 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered 8$ part of an ind8p6ndent examination,. or the accounts have not been prepared in accordan with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable lo charitie5 pparIng their accounts in accordance wilh the Financial Reportin9 Standard applicable in the UK and Republic of Iieland IFRS 1021. I have no concems and have ¢omÈ across no other matters in connection with the examination to which artention shId be drawn in Ihls report In order lo enable a pioper undeislandlng ol the accounts to be reached. David Nig COXF The Institute of Chartered Accountants in England and Wales Meth1[ Gard Ltd Chartered Accountants Bum View Bude Cornwall EX23 8BX Date". Page 4
Bude Ha n Recr round Statement of Financial Activllie oratin an Incorne and Ex nltu A¢¢ount Year Ended 31 December 2024 Incor 2024 Total funds 2023 Total funds Unrestricted fiJnds Restrictsd fund Notes INCOME AND ENDOwmEs FROM Charitsble activitie$ Prowsion of facilities 162.085 162.086 111.792 Other trading activitres Investment Income Olhei incomè 80 1.427 6,525 5,895 5,895 Total 168.823 168.823 119,824 EXPENDITURE ON Charitable activityes Provision of facilities Support Costs 126.813 126.813 95.127 Totsl 126,813 126.813 95.127 NET INCOME 42.010 42,010 24.697 RECONCILIATION OF FUNDS Total fijnds brou9hl fw8rd 299,928 299,928 275,231 TOTAL FUNDS CARRIED FORWARD 341,938 341.938 299,928 The notes form part ol these finan(ial StatentS Page 5
udo Haven Recre iorb G red nu Balance Sheet 31 December 2024 2024 Total funds 2023 Total fvnds Unrestricted funds Restricted furKY FIXED ASSETS Tangible assets 176.967 176,967 162,669 CURRENT ASSETS Debtors Cash at bank and in hand 12 13 3,015 170.041 3,015 170,041 5.881 142,685 173.056 173,056 148,566 CREDITORS Amounts fralling due within one year 14 18.IYdS1 18.0851 111.3071 NET CURRENT ASSETS 164,971 164,971 137.259 TOTAL ASSETS LESS CURRENT UABILITIES 341.938 341,938 299.928 NET ASSETS 341.938 341.938 299.928 FUNDS Unrestricted fvnd& General fijnd Share wital 15 339838 2,500 297.428 2,500 341,938 299,928 TOTAL FUNDS 341,938 299,928 The charitable company is ents.tlèd to exemption frorn audit under Section 477 of the Ccffipanie5 Act 2006 fLY the year ended 31 December 2024. The memb8rs hav6 not required the company to obtain an audit of its finanal ststsrnents for the year end&J 31 DeTrmber 2024 in accordance with Section 476 01 the Companies Act 2006. The trustees 8d(nowledge tkeir responsibilits'es lal ensuring that the charitable wmpany keeps accounting records that comply wth Sections 386 and 387 of tp Companies Act 2(K)6 and preparing financ1 statements which give a true and fair view of Ihe State of affair5 01 the charitable company as at the end of each financial year and of its surplu5 or deficil for tsach finanal year in accordan with the qUirnents of Sections 394 and 395 and whith otherwise pIY with the requirements of the Companies Act 2006 lating to financial Statements, so far as applic2b18 to the tharitabl8 company. (bl These finanual statements have been prepared in accordan with the wovisions applicable io charitable companies subjectto the small cornpanies regime. finanaal sta ents We approved by the Board of Trustees and atrthorised for issue . and were Sigr0 on ils behalf by.. ngle- Trustee The notes fom) part of the56 financial statèments Page 6
Budt Haven Recreation Ground Notes to the Financial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basls of Prepang the financral statements The financial 51alernents ol the charitae o)mpany. hhich a public benefil entity under FRS 102, have been prepart in accordan the Chariles SORP IFRS 1021 'Accounting and Reporting by Charities". Statement of Recommended PO¢t1 applicable to tharities preparing their accounts in accordanr£ with the Financial Reporting Standard applicable in the UK and Republic of Iland IFRS 1021 (effective 1 January 20191,. Financial Reporting Standard 102 'The Finanual Reporting Standard applicable in the UK and Republic ol Ireland, and the Companie5 Act 2006, and UK G&neially Accaptwj Aecounting Practlce. The finanual statements ar8 prepared on a going conc8m basis as the trustees beIve that no material uncertainb.es exist Th8 fin8n¢i81 statetngnts are pres8nted in steding which is the fvnctional ojrrency of the charity. The signifir2nt accountirg policies applied in the preparation of these finanual stat8rnents are set out below. These poli¢E5 have been consistently applied to all years presented Un$$ Other$9 statsd. Financial reporting standard 102- redu¢ed disclosure exemptions The charitable company has taken advantage of the following diselosure exemptrons in preparirg these finaneial statements. as permitted by FRS 102 Th8 Finanoal Reporting Standard appIable In the UK and Republic ol Ir8Lgnd': the requirements of Section 7 Ststement ol Cash Fl the requirern8nt of paragraph 3.17ldl. Income All incoming resour are incIjed in the Statement ol Financial Activiles ISOFAI wherTr the charity is legally entitled to the incorne after any perfOnan condib.ons have been met. the amount can be rneasuied relkqbly and it is probable that income will be receive(J. The wlicies adopted for the cogn1.0n of inujme are as follows.. Income from Charitable actiwlies is derived from the provision of leisure facilitps. This is reugnised when those facilities have been used. Included in income from charitable activitEs are annual subscriptions which a iecognised over the period to which they relate. For subscriptv)n periods which are not co-leminus wth the finanaal slatemenls, the element of the subSption whid) lateS to use in the fdlowing financial year is deferred and carrd forward in deferred income. Rentals re1vable und¥ operating leasès arè tharge(J to the SOFA on a stravjht line basis over the rIOd of the lease. Expenditure All expendibjre is •tsUn1ed for on an accru8Ls basis and h2s been classified under headings that agggate 811 Costs related to the rategory Expenditure 13 rewnised where there is a legal or constructive obligation to make payments to third parties, it is probable that the sewement will be required and the arnount of the obligation can be measured reliably. AllocatFon and aprtiOnment of costs Support costs a those that assist the work ol the charity bul do not direcyy represent charitable aclivils and clude Offi costs. g0Veman costs, administrative and payroll costs. Governan costs indude those invdved in the public accountability of the trust and its Cornplian wth regulation and good wacti. The trustees believe that Ihere only one Charitab activity and support costs have teen allocated as per the anatysi5 shown in llote 6. Tangible fixed as$•ts Tangible fixed assets a stated at cost less acwrnulated depr8ciaiion and accumulated Impaimieni los$es. Cost includes costs directly attributable to rnakirg the asset capatrAe of operating as intended. DepriatIOn is provided on all tarng1b fixed assets, at rates calculated to write off the cos( $$ e5tirnated resKlual value, ol ead) asset on a systemats"c basB over ils expected useful life as bllows.. Land and buildings Othertsngible fNed èssets Nll - 5%- 20% per annum on cost Assets a not generally capitalised below a value of £150. Page 7 cDntinued...
Bude Haven Recreation Ground Not8S to th8 Financial Statements- ¢ontinued for the Year Ended 31 December 2024 ACCOUNTING POUCIES- contlnued Tanglble fixed assets The policy of the directors is to maintain th8 fr8ehold buildings to a good stan(lard ol pair and so in their OnIOn no depreciation is required as the exwled residual value of the buiklings at end ol their useful life is above t1 carrying value in the account* Taxation The charity is exempt from corporation tax on ts Charitab actiVe$. Fund accounting Unre51ricted funds ean bè used in aceordance with thè charitabb objecbves at the discretion oflh& trustees. Employee benefits lfvhen employees h8ve rdered service to the charity. ghort-term employee benefits to which the empbyees are enblled are renised al the undiscount8d amount exp8cted to be paid in exchange for that servi. The charty yrates a defined contribution plan for the benefit of its ernployees. Contributions a expensed as they become payable. Debtors and creditors recelvable I payable wlthin one year Debtors and cditO with no stated interest rate and receivab or payable wthin ong ye8r 8r8 rerA)rd8d at transaction prica. Any ltssses arising from impaimisnt are recognised in expenditure. Financial instruments All financial instrurnenls are recoJnised inthalty at transaetion pri exduding transac costs 8nd subsequenuy at amortssed c05L Th8se include G3sh at bank. debtors and cieditors. OTHER TRADING ACTIVITIES 2024 2023 Sundry Olpts 80 INVESTMENT INCOME 2024 2023 Deposit account rnterest 1,427 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 ProvisK)n of Total activib.es Equipment hire Putting Tennis Bowls Squash Table tennis Squash electriuty Mini goll Pool Squash dub contributs.on to heating Tennis clubs Squash dub Bowls club 1.884 2.865 17,786 1.920 788 916 2,315 113,739 227 25 10,160 4.310 5.370 1,879 4,035 17,184 2.801 1,316 2,601 61,757 188 1,501 8.443 3,937 5,310 1$2,08S 111,792 Page 8 conts"nued...
Budt Haven Recrèalton Ground Notes to the Financial Statements- continued for the Year Ended 31 December 2024 OTHER INCOME 2024 2023 t¢hen I(nce Ineomè 5,895 6,525 CHARITABLE ACTIVlnES COSTS Support costs (see note 71 Support costs 126,813 SUPPORT COSTS Hurnan resources Establishment Finan SLPPOrt costs 16,312 2.600 53.399 Maintenan and dgpreci8tK)n Govemarte costs offi Totals Support o)sts 46,059 7,243 1,200 126.813 Support costs. included in the above, are as follows.. Establishment 2024 Support costs 2023 Total tivilies Water rates Insuran Lrght and heat Advertssing General rates 2,679 4,114 7,778 1A24 317 3.310 3,840 10,077 200 281 16,312 17,708 Finance 2024 Support costs 2023 Total actiwties Bank tharges Car(J charges 358 2,242 308 1.259 2,600 1.567 Page 9 conty'nued...
Bude Haven Recreation Grotjnd Notes to the Financial Statements - Gontinued for the Year Ended 31 Oecember 2024 SUPPORT COSTS - contlnued Human resources 2024 Support eosts 2023 Total adivilies Wag8s Pensions 52.381 1,018 47,860 1.058 53.399 48.918 Maintenancè and depreciation 2024 Support costs 2023 Total activibes Ground maintenance Maintenance of premises Maintenance of equipment Depreciation of tangible fixed assets 2,478 39.993 1.256 2,332 3.995 12,570 160 2.320 46.059 19,045 Office 2024 Support costs 2023 Total activities Legal fees Accounting and Secretsri81 Telephone Printing, postage and stationery Sundry expenses 550 4.800 703 128 1.062 500 4,900 579 141 669 Governance costs 2024 Support costs 2023 Total adivitie5 Independent examiners. Teview costs 1,200 NET INCOMEIIEXPENDITUREI Nel in¢omel(expenditurel 18 slated after chargingllcrediling}: 2024 2023 Independent examiners. review costs Depreaation - owned 8ssets 1.200 2.331 1,100 2,320 Page 10
Bude Haven Recreation Ground Notes to the Finan¢ial Stslements- continued forthe Year Eniled 31 December 2024 TRUSTEES. REMUNERATION AND BENEFITS T1 were no trustees, remuneratr.on or other beneffts for the year eThYed 31 December 2024 nor for th8 year ended 31 December 2023. Trustees, expenses There were no trustee5' expens8S Paid for the year ended 31 December 224 nor for year endgj 31 Dffltser 2023. 10. STAFF COSTS 2024 2023 Wages and 58larie5 Other pension costs 52,381 1,018 47,860 1,058 53,399 48.918 The average monthly nwnber of employees during the yearwas as foll(yw5'. 2024 2023 Head count-excluding trustees There a no empk)yees with emoluments above £60.OCI). 11. TANGIBLE FIXED AsseTS Freeho property Plant and machinery TotaL COST At 1 January 2024 Additions 147.633 16.274 48.109 355 195,742 16.629 At 31 Drnber2024 163,907 48,464 212.371 DEPRECIATION At 1 January 2024 Charge for year 33.073 1331 33,073 2,331 At 31 D8(xnb8r 2024 35,404 35,404 NET BOOKVALUE At 31 0mber2024 163.907 13,060 176,967 At 31 D8cemb8r 2023 147.633 15.036 162,689 IrKluded in cost of land and lIding$ is freehold land of£10,0(KJ12023". £10,000). Page11 ortinued...
Bud8 Haven Recreation Ground Notes to the Financial Statements - continuod for the Year Ended 31 December 2024 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Debtors VAT Prepayments and awrued incorne 1.200 1,878 2.303 1,700 1.815 3.015 5,881 13. CASH AT BANKAND IN HAND 2024 Total funds 2ff23 Total fvnds Cash in hand Bank account 95 day saveraccvunt 128 161,586 8,327 128 135,070 7,487 Tot81 170,041 142,685 Cash at bank and cash in hand indude$ cash and shortterm hi9hty liquid investrnents a short Maturity. 14. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 cditOrS Social security and olher taxes VAT Other CritOrS Accruals and deferred income 506 4.333 1.098 2,180 138 5,261 5.716 8,085 11.307 15. MOVEMENT IN FUNDS Net rnovement in funds At 31.12_24 At 1.1.24 Unrestricted fund5 General fvnd Share capital 297A28 2,500 41010 339.438 2,500 299,928 41010 341.938 TOTAL FUNDS 299,928 42,010 341.938 Net movement w funds, Induded in the abov8 are as follows.. Incoming resour Resource5 exnded Movement in funds Uniestri¢ted fund$ General furKI 168,823 1126,8131 42.010 TOTAL FUNDS 168,823 1126,8131 42.010 Pagè 12 continued...
Bude Haven Recreation Groun Notès to the Financial Statements- continued for the Year Ended 31 December 2024 15. MOVEMENT IN FUNDS- contlnued Comparatfjves for movement In funds Net movement in lunds At 31.12.23 At1 1.23 Unrestrs¢tgd funds General fund Sh8re caprtal 272,n1 2,500 24,697 297,428 2,500 275,231 24.697 299,928 TOTAL FUNDS 275,231 24.697 299,928 compaiats.ve net movemenl funds, induded in the above are as follows.. Incorning sources Resour expered Movement in funds Unr•strlcted funds Gerra1 fund 119.&24 195.1271 24,697 TOTAL FUNDS 119,824 195.1271 24,e97 Authoris&l share pital ha5 en allotted, tssued and paid in fvll. Number Class Nominal Value 2024 2ff23 Ordinary £1 2.500 16. RELAYED PARTY DISCLOSURES There were no related party disclogjres for Ihe year ended 31 Dember 2024, nor for the year ended 31 Decemb8r 2023. 17. DIRECTORS. AND OFFICERS. LIABILITY INSURANCE The cA)mparJy has taken out insurance ctsver iegardirKJ directors. officars. liabi'lity. The amount paid for this cover in the year was £24812023.. £2481. Pag813