```
Company Number: 00901063
Charity Number: 300909
```
```
NEWTON ABBOT AND DISTRICT
RECREATIONAL TRUST LIMITED
(Limited by Guarantee)
```
```
UNAUDITED FINANCIAL STATEMENTS
```
```
YEAR ENDED 30 SEPTEMBER 2023
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`FINANCIAL STATEMENTS`**
## **`FOR THE YEAR ENDED 30 SEPTEMBER 2023`**
```
-------------------------------------------------------------------------
```
```
INDEX Page
Reference and administration information 1
Report of the Directors 2 - 6
List of Members 7
Statement of Directors Responsibilities 8
Independent Examiners Report 9 – 10
Statement of Financial Activities 11
Statement of financial position 12 - 13
Notes to the Financial Statements 14 - 19
```
```
NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED
(Limited by Guarantee)
```
## **`REFERENCE AND ADMINISTRATION INFORMATION`**
## **`FOR THE YEAR ENDED 30 SEPTEMBER 2023`**
```
-------------------------------------------------------------------------
```
```
Directors N L Flower (Chairman)
S J Reynolds
M Andrews
R C Bellotti
R B Hayes
A Lloyd
S O’Donnell
J D Patchett
R Peterson
T J Stronghill
R G Thomas
T Villis
B Widdicombe
Registered Office The Pavilion
Marsh Road
Newton Abbot
Devon
TQ12 2AR
Company Registration Number 00901063
Registered Charity Number 300909
Bankers Lloyds Bank
41 Courtenay Street
Newton Abbot
Devon
TQ12 2QW
Independent Examiner I J Taberner FCA
Turnbull & Co Accountants Limited
Pilgrim House
Oxford Place
Plymouth
PL1 5AJ
```
```
Page 1
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`DIRECTORS REPORT 30 SEPTEMBER 2023`**
## **`-------------------------------------------------------------------------`**
```
The directors present their report and the unaudited financial statements
for the year ended 30 September 2023 for the purposes of section 162 of the
Charities Act 2011 and for the purposes of section 419(2) of the Companies
Act 2006.
```
```
The directors confirm that they have complied with the duty in section 17
(5) of the 2011 Charities Act to have due regard to guidance published by
the Charities Commission.
```
## **`Status`**
```
The company is registered as a charity under section 4 Charities Act 1960
with the registered charity number of 300909 and a company registration
number of 00901063 and is limited by guarantee. At the balance sheet date
there were 30 members, whose liability is limited to £1 each in the event
of winding up.
```
## **`Objectives and activities`**
```
The principal activity of the company is the provision of recreation,
physical education, and other leisure time occupations in, or in connection
with, the town of Newton Abbot and its environs.
```
```
The Trust employs an administrator and other part time staff. The company
is responsible for the management and operation of a cricket ground, football
pitch, car park, pavilion, five squash courts, four tennis courts and
associated facilities.
```
```
The Trust’s membership consists of five affiliated sports clubs: Newton
Abbot Squash Rackets and Lawn Tennis Club, Newton Abbot Spurs Football Club,
South Devon Cricket Club, FIT2run Newton Abbot and Teignbridge Trotters
Running Club. The hall is also used for a number of recreational activities.
```
```
The company’s subsidiary company, Coralwharf Limited, operates a bar for the
sports clubs using the facilities of the Trust.
```
## **`How our activities deliver public benefit`**
```
In writing this, the directors have had regard to the Charity Commission’s
Guidance on public benefit.
```
```
Page 2
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`DIRECTORS REPORT 30 SEPTEMBER 2023`**
## **`--------------------------------------------------------------------------`**
## **`How our activities deliver public benefit (continued)`**
```
The company’s activities are the provision of recreation, physical
education, and other leisure time occupations in, or in connection with, the
town of Newton Abbot and its environs for the benefit of the public.
```
## **`Pavilion and grounds`**
```
The company holds the land on which the activities take place under a lease
granted by Newton Abbot UDC for 99 years from 12 August 1970 at a peppercorn
rent. The company has granted an underlease to the trustees of Newton Abbot
Squash Rackets and Lawn Tennis Club for 75 years from 1 October 1993 at an
initial rental of £1,000 per annum, and a supplemental underlease dated 1
April 1998 to expire at the same time as the main underlease for an additional
initial rental of £1,250; and has granted to the trustees of the Newton
Abbot Spurs Football Club an underlease for 25 years from 1 November 2007
at an initial rental of £2,500 per annum.
```
## **`Results`**
```
A surplus was made this year of £7,916. The reserves carried forward at 30
September 2023 were £290,178.
```
```
A substantial amount of time is contributed by Officers and Board Members
in relation to the administration of the centre. No payments are made to any
officers or Board Members in this respect. The value of these ‘gifts in
kind’ has not been quantified by the officers.
```
## **`Achievements and Performance`**
```
2023 was a year of stability in which the Trust continued to provide much
needed sporting facilities and services to the Newton Abbot & District
Community.
```
```
The commercial side of the Trust’s operation, through its trading subsidiary,
Coralwharf Ltd, produced a relatively strong performance despite pressure
from a considerable increase in operating costs as the “Cost of Living
Crisis” began to take hold. The overall contribution made by Coralwharf Ltd
to the Trust made up of the Licence Fee, Administration Fee and Charitable
Gift amounted to £50,000 (2022: £63,000).
```
```
The Member Clubs continued their respective sporting activities and
Membership Subscription income exceeded budget with an increase of 15% on
2022. Hall Hire showed a general return to social gatherings and whilst
```
```
Page 3
```
```
NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED
(Limited by Guarantee)
```
## **`DIRECTORS REPORT 30 SEPTEMBER 2023`**
```
--------------------------------------------------------------------------
```
## **`Achievements and Performance (continued)`**
```
slightly below Budget, was 25% up compared to 2022. Contributions from Clubs
which totalled £17,935, was boosted by a £9,500 additional contribution from
South Devon Cricket Club to assist with the installation of the new
Artificial Wicket on the Cricket Field.
```
```
During the reporting period the Pavilion and grounds were kept in good order.
The new covered patioarea installed in 2022, helped to rebuild Hall Hire
and function income.
```
```
Funds were also expended on the purchase of additional machinery and
equipment to assist with grounds and pitch maintenance. A special ‘thank
you’ is noted here to the group of volunteers who tend and prepare the
football and cricket pitches on a weekly basis. Also, thanks go out to the
many volunteers who run the various clubs that make up ‘The Rec’.
```
```
The proposed plans for the extension of and improvement to the Pavilion,
under “Project Big Build”, continued to remain on hold due to the substantial
post COVID-19 increase in building costs. A working group has been set up
to review immediate needs and seek out potential grant funding streams. The
plan remains to eventually submit a full planning application and to move
the project forward. In the meantime, the Accounts include a partial
provision under “Designated Funds”, set aside to be put towards the eventual
cost of the works.
```
```
Active involvement in the wider Community continued and we welcomed several
new groups that have made ‘The Rec’ their new regular base.
```
```
The Trust continued to prove its resilience and produced an overall surplus
for the year of £7,916 which was significantly reduced from 2022 (£24,469).
This result was after sustaining a 21% increase in overhead expenditure with
Property Expenses and Office and Administration costs up by £23,251 compared
with 2022.
```
```
Looking forward, the Board will continue to reinvest and will work with the
constituent member clubs to ensure a brighter future whilst keeping ‘The
Rec’ in its prime position as a vital part of the Newton Abbot and District
Community.
```
## **`Structure and governance`**
```
Newton Abbot and District Recreational Trust is a company limited by
guarantee and governed by it’s Memorandum and Articles of Association
originally dated 16 March 1967 and then revised on 19 December 2017. It is
```
```
Page 4
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED`**
```
(Limited by Guarantee)
```
## **`DIRECTORS REPORT 30 SEPTEMBER 2023`**
## **`--------------------------------------------------------------------------`**
## **`Structure and governance (continued)`**
```
registered as a charity with the Charity Commission.
```
```
The company is overseen by an executive board, who meet bi-monthly and set
the strategic direction in line with the mission and vision of the charity.
```
```
Members of the Executive Board are elected at the Annual General Meeting of
the company. Any potential new members are invited to attend the AGM.
```
```
Day to day responsibility for the implementation and operations of the
strategy is devolved to Chris Hurrell centre manager.
```
## **`Directors`**
```
The directors who served during the year were as follows:
```
```
S J Reynolds
R G Thomas
```
```
R C Bellotti
C Comber (deceased 9/7/2023)
M Andrews
A Feaver (resigned 15/11/2022)
N L Flower
R B Hayes
A Lloyd
S O’Donnell
J Patchett
R Petersen
T J Stronghill
T Villis
B Widdicombe
```
## **`Members of the Executive Board at 30 September 2023`**
```
The executive board during the year under review were:
```
## **`Elected directors`**
```
N Flower - Chairman
S Reynolds - Treasurer
R Peterson - Property manager
R Thomas
S O’Donnell
```
```
Page 5
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`DIRECTORS REPORT 30 SEPTEMBER 2023`**
## **`--------------------------------------------------------------------------`**
## **`Nominated directors`**
```
A Feaver - Newton Abbot Recreational Trust Club (resigned 15/11/2022)
A Lloyd - Newton Abbot Squash & Tennis Club
```
```
T Villis - Newton Abbot Squash & Tennis Club
R Bellotti - Newton Abbot Spurs AFC
```
```
J Patchett - Newton Abbot Spurs AFC
```
```
B Widdicombe - South Devon Cricket Club
```
```
C Comber - South Devon Cricket Club (deceased 9/7/2023)
```
```
R Hayes - Teignbridge Trotters Running Club
```
```
T Stronghill - Fit2Run Newton Abbot
```
```
M Andrews - Quality control
```
## **`Honorary President`**
```
R Lewis
```
## **`Reserves policy`**
```
It is the policy of the company to build up their reserves to such time as
they are needed to complete a project the charity is working towards or
there is a large repair/replacement needed.
```
## **`Risk Review`**
```
The Executive Board has conducted its own review of the major risks to which
the charity is exposed and systems have been established to mitigate those
risks. Should significant external risks to funding be identified, a
strategic plan will be developed which will allow for the diversification
of funding and activities. Internal risks are minimised by the implementation
of procedures for authorisation of all transactions and projects and to
ensure consistent quality of delivery for all operational aspects of the
charity. These procedures are periodically reviewed to ensure that they
still meet the needs of the charity.
```
```
Advantage is being taken in the preparation of the directors report, of the
special exemptions applicable to small companies conferred by the Companies
Act 2006.
```
## **`ON BEHALF OF THE BOARD`**
## **`S J Reynolds`**
## **`Director`**
## **`Date`**
```
Page 6
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`LIST OF MEMBERS 30 SEPTEMBER 2023`**
```
-------------------------------------------------------------------------
```
```
B Allen
M Andrews
RC Bellotti
D Brown
S Brown
A Dawes
J Doyle
S Doyle
A Feaver
NL Flower
R Hayes
M Hember
S Hember
P Lennox
RA Lewis
A Lloyd
S O’Donnell
RM Oliver
J Paris
J Patchett
R Peterson
S Reynolds
T Stronghill
C Sutcliffe
R Thomas
T Villis
```
```
M Watts
B Widdicombe
M Widdicombe
P Wright
```
```
Page 7
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`STATEMENT OF DIRECTORS’ RESPONSIBILITIES`**
```
Company law requires the directors to prepare financial statements for each
financial year which give a true and fair view. In preparing those financial
statements, the directors are required to:
```
- `select suitable accounting policies and then apply them consistently;`
- `make judgements that are reasonable and prudent;`
- `state whether the policies adopted are in accordance with the appropriate SORP on Accounting by Charities and the Accounting Regulations, and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements;`
```
* prepare the financial statements on the going concern basis unless it
is not appropriate to presume that the company will continue in
business.
```
```
The directors are responsible for keeping adequate accounting records, which
disclose with reasonable accuracy at any time, the financial position of the
company and to enable them to ensure that the financial statements comply
with the Companies Act 2006. They are also responsible for safeguarding the
assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud or other irregularities.
```
```
The directors are responsible for the maintenance and integrity of the
corporate and financial information included on the charity’s website.
```
```
Page 8
```
```
NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED
(Limited by Guarantee)
```
## **`INDEPENDENT EXAMINERS REPORT TO THE DIRECTORS OF NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED`**
```
--------------------------------------------------------------------------
```
```
I report on the accounts of Newton Abbot And District Recreational Trust
Limited for the year ended 30 September 2023 which are set out on pages 11
to 19.
```
## **`Respective Responsibilities of Directors and Independent Examiner`**
```
The charity’s directors are responsible for the preparation of the accounts.
The charity’s directors consider that an audit is not required for this year
under part 16 of the Companies Act 2006 and an independent examination has
been requested.
```
```
It is my responsibility to:
```
- `examine the accounts (under section 145 of the Charities Act 2011)`
- `to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and`
- `to state whether particular matters have come to my attention.`
## **`Basis of independent examiners’ report`**
```
My examination was carried out in accordance with the General Directions
given by the Charity Commissioners. 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 the seeking of explanations from
you as directors concerning any such matters. The procedures undertaken do
not provide all the evidence that would be required in an audit and,
consequently, I do not express an audit opinion on the view given by the
accounts.
```
## **`Independent examiners’ statement`**
```
In connection with my examination, no matter has come to my attention:
```
```
- which gives me reasonable cause to believe that, in any material
respect, the requirements
```
- `(a) to keep accounting records in accordance with s386 of the Companies Act 2006`
```
Page 9
```
```
NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED
(Limited by Guarantee)
```
## **`INDEPENDENT EXAMINERS REPORT TO THE DIRECTORS OF NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED`**
```
--------------------------------------------------------------------------
```
- `(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Companies Act 2006 and the Statement of Recommended Practise: Accounting and`
- `to which, in my opinion, attention should be drawn in order to enable`
- `a proper understanding of the accounts to be reached.`
## **`I J Taberner FCA`**
```
Turnbull & Co Accountants Limited
Chartered Accountants
Pilgrim House
Oxford Place
Plymouth
PL1 5AJ
```
```
Date
```
```
Page 10
```
```
NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED
(Limited by Guarantee)
```
## **`STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023`**
```
-------------------------------------------------------------------------
```
```
2023 2022
Designated Unrestricted Total Total
Notes Fund Fund Funds Funds
£ £ £ £
Incoming Resources
Incoming Resources From
Generated Funds 1
Subscriptions and
contributions - 36,474 36,474 21,672
Grants - - - -
Other Income - 82,494 82,494 81,518
Investment Income - 20,737 20,737 30,010
------- ------- ------- -------
Total Incoming Resources - 139,705 139,705 133,200
======= ======= ======= =======
Resources Expended
Direct charitable
expenditure 2 - 126,008 126,008 102,871
Governance costs 3 - 5,781 5,781 5,860
------- ------- ------- -------
Total Resources Expended - 131,789 131,789 108,731
======= ======= ======= =======
Net surplus for
the year before taxation 4 - 7,916 7,916 24,469
Taxation 6 - - - -
------- ------- ------- ------
Net Surplus
for the year 12 - 7,916 7,916 24,469
Funds Brought Forward 136,489 145,773 282,262 257,793
Transfer of funds made - - - -
------- ------- ------- -------
Funds Carried Forward 136,489 153,689 290,178 282,262
======= ======= ======= =======
```
```
Movements on reserves are set out in note 12 on page 19.
```
```
Page 11
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`BALANCE SHEET AT 30 SEPTEMBER 2023 COMPANY NUMBER 00901063`**
```
-------------------------------------------------------------------------
Note 2023 2022
£ £ £ £
Fixed Assets
Tangible assets 7 132,727 124,099
Investments 8 100 100
Current Assets
Stocks 447 1,174
Debtors 9 40,081 32,430
Bank and Cash 150,243 155,215
------- -------
190,771 188,819
Creditors:amounts due
within one year10 17,920 14,256
------ ------
Net current assets 172,851 174,563
------- -------
Total assets less current
liabilities 305,678 298,762
Creditors:amounts due
after one year11 (15,500) (16,500)
------- -------
290,178 282,262
======= =======
Accumulated Funds
Unrestricted12 153,689 145,773
Designated 12 136,489 136,489
------- -------
290,178 282,262
======= =======
```
```
For the year ending 30 September 2023, the company was entitled to exemption
from an audit under section 477 of the Companies Act 2006 relating to small
companies.
```
```
The members have not required the company to obtain an audit in accordance
with section 476 of the Companies Act 2006.
```
```
The directors acknowledge their responsibility for complying with the
requirements of the Act with respect to accounting records and for the
preparation of the accounts.
```
```
NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED
(Limited by Guarantee)
```
## **`BALANCE SHEET AT 30 SEPTEMBER 2023 (CONTINUED) COMPANY NUMBER 00901063`**
```
-------------------------------------------------------------------------
```
```
These accounts have been prepared in accordance with the provisions
applicable to companies subject to the small companies’ regime.
```
```
The financial statements were approved by the Board of Directors on
```
```
and signed on its behalf by
```
```
S J Reynolds -Director
```
## **`NEWTON ABBOT AND DISCTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023`**
## **`-------------------------------------------------------------------------`**
```
Newton Abbot and District Recreational Trust Limited is a company limited
by guarantee and a charity registered at the Charity Commission of England
and Wales. The principal office is The Pavilion, Marsh Road, Newton Abbot,
Devon, TQ12 2AR.
```
```
The presentation currency is £ sterling.
```
## **`1 Accounting Policies`**
## **`Basis of preparation`**
```
The financial statements have been prepared on the historic cost basis
and in accordance with Accounting and Reporting by Charities: Statement
of Recommended Practise applicable to charities preparing accounts in
accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102)(effective 1 January 2015)-(Charities
SORP (FRS 102) and the Companies Act 2006.
```
```
Newton Abbot and District Recreational Trust Limited meets the
definition of a public benefit entity under FRS 102.
```
```
In considering the transition to the accounting policies required by
FRS 102, no adjustments have been made to restate the comparative
figures.
```
## **`Consolidation`**
```
The company and its subsidiary comprise a small group. The company has
therefore taken advantage of the exemption provided by Section 398 of
the Companies Act 2006 not to prepare group accounts.
```
## **`Format of accounts`**
```
In the opinion of the directors, the standard format of the profit
and loss account as laid down by the Companies Act 2006, would not
present a fair view of the results of the company. Accordingly, the
format of the profit and loss account has been amended as permitted by
the Companies Act 2006.
```
## **`Fund accounting`**
```
General funds are unrestricted funds which are available for the
trustees for furtherance of the general objectives of the company and
which have not been designated for other purposes.
```
```
Designated funds are unrestricted funds that the trustees have set
aside for a particular purpose.
```
```
Page 14
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023`**
## **`-------------------------------------------------------------------------`**
## **`1 Accounting Policies (continued)`**
## **`Incoming Resources`**
```
Income is represented by monies derived from the company's principal
activities after the deduction of value added tax and is only recognised
when the company has entitlement to the income, it can be measured
reliably and it is probable that it will be received.
```
## **`Resources expended`**
```
principal activity of the provision of recreation, physical education,
and other leisure time occupations in, or in connection with, the town
of Newton Abbot and its environs. All expenditure is accounted for on
an accruals basis and is fully analysed in the notes. It is recognised
once there is a legal obligation to make payment to a third party, that
it can be measured reliably and it is likely that payment will be
required.
```
```
Governance Costs include those costs associated with meeting the
constitutional and statutory requirements of the charity.
```
## **`Fixed assets`**
## **`Depreciation`**
```
Depreciation is calculated to write down the costs of assets by equal
annual instalments over their expected useful lives, as follows:
```
```
Leasehold land and buildings 2% to 20% per annum
Fixtures and Fittings 12.5% to 20% per annum
```
## **`Debtors`**
```
Debtors are recognised at their settlement amount after any trade
discounts.
```
## **`Liabilities and provisions`**
```
Liabilities are recognised when there is an obligation at the balance
sheet date as a result of a past event, it is possible that a transfer
of economical benefit will be required in settlement, and the amount of
the settlement can be estimated reliably. Liabilities are recognised at
the amount that the company anticipates it will pay to settle the debt
or amount received as advanced payments for goods or services it must
provide. Provisions are measured at the best estimate of the amounts
required to settle the obligation.
```
```
Page 15
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023`**
## **`-------------------------------------------------------------------------`**
## **`1 Accounting Policies (continued)`**
## **`Grants`**
```
Grants received are accounted for on an accruals basis and are shown
separately on the Statement of Financial Activities. Grant income is
only subsequently deferred if required by the specific terms and
conditions of the grant.
```
## **`Stocks`**
```
Stocks are valued at the lower of cost or net realisable value.
```
## **`Going concern`**
```
With the affiliated clubs that are currently signed up, together with
the other income streams, a going concern basis in preparing the accounts
can be adopted.
```
```
2 Direct Charitable Expenditure 2023 2022
Designated Unrestricted Total Total
Fund Fund Funds Funds
Expenditure Expenditure
£ £ £ £
Property expenses - 37,576 37,576 26,883
Office and administration
expenses - 87,454 87,454 74,892
Finance expenses - 978 978 1,096
------ ------- ------- -------
- 126,008 126,008 102,871
====== ======= ======= =======
3 Governance Costs
Reporting Accountants Fee - 2,300 2,300 2,200
Professional fees - 3,481 3,481 3,660
------ ------- ------- -------
- 5,781 5,781 5,860
====== ======= ======= =======
4 Net surplus for the year
This is stated after charging:
Directors emoluments - -
Depreciation written off tangible fixed assets 8,574 5,613
Loss/(Profit) on disposal of assets - 56
======= =======
```
```
Page 16
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023`**
## **`-------------------------------------------------------------------------`**
## **`5 Employees`**
```
Number of employees 2023 2022
Number Number
The average monthly number of employees
during the year was:
Administration 2 1
====== ======
Employment costs £ £
Wages and salaries 33,280 27,500
Employers national insurance 2,878 1,544
Pension contributions 700 -
------- -------
36,858 29,044
======= =======
No employee received emoluments above £60,000.
```
## **`6 Taxation`**
```
The company is a registered charity and no provision for taxation is
considered necessary.
```
```
7 Tangible Fixed Assets Leasehold
Fixtures Pavilion
and and
Fittings Grounds Total
Cost £ £ £
At 1 October 2022 75,382 242,517 317,899
Additions 7,218 9,984 17,202
Disposals - - -
------ ------- -------
At 30 September 2023 82,600 252,501 335,101
====== ======= =======
Depreciation
At 1 October 2022 62,123 131,677 193,800
Charge for year 3,696 4,878 8,574
Disposals - - -
------ ------- -------
At 30 September 2023 65,819 136,555 202,374
====== ======= =======
```
```
Page 17
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023`**
```
-------------------------------------------------------------------------
7 Tangible Fixed Assets (continued)
£ £ £
Net book value
At 30 September 2023 16,781 115,946 132,727
====== ======= =======
At 30 September 2022 13,259 110,840 124,099
====== ======= =======
8 Fixed assets - Investments 2023 2022
£ £
Investment in subsidiary company 100 100
==== ====
The subsidiary company, Coralwharf Limited, is 100% owned. It is a
trading company which operates a bar and is registered and
incorporated in England.
At 30 September 2023, the aggregate amount of its share capital and
reserves amounted to £15,920 and its loss for the year to that date
was £2,548.
9 Debtors: Amounts falling due within one year.
2023 2022
£ £
Trade Debtors 5,255 1,878
Prepayments and accrued income 23,244 27,667
Other tax and social security 3,803 481
Other Debtors 4,029 2,404
Amount due from group undertaking 3,750 -
------ ------
40,081 32,430
====== ======
10 Creditors: Amounts falling due within one year
Trade creditors 4,454 4,205
Other Tax and social security 669 613
Accruals and deferred income 6,364 7,045
Payments on account 1,082 563
Newton Abbot Squash and Tennis Club loan 1,000 1,000
Amount owed to group undertaking 4,188 830
Other Creditors 163 -
------ ------
17,920 14,256
====== ======
Page 18
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023`**
```
-------------------------------------------------------------------------
```
```
11 Creditors: Amounts falling due after one year
2023 2022
£ £
South Devon Cricket Club Loan 10,000 10,000
Newton Abbot Squash and Tennis Club loan 5,500 6,500
------ ------
15,500 16,500
====== ======
12 Accumulated Total Funds
Designated Unrestricted Total
Fund Fund Funds
£ £ £
At 1 October 2022 136,489 145,773 282,262
Surplus or the year - 7,916 7,916
Transfer of funds - - -
------- ------- -------
At 30 September 2023 136,489 153,689 290,178
======= ======= =======
```
```
General funds are held for the continuity of the charity.
```
```
Designated funds are being held to go towards the ‘Big Build’, where the
company is looking to expand and improve their current premises.
```
## **`13 Share Capital and Members Liability`**
```
The company is limited by guarantee. In the event of the company
being wound up, the liability of each member is limited to £1.
```
## **`14 Control`**
```
The company is under the effective control of its directors.
```
## **`15 Transactions with the Trustees`**
```
None of the Trustees (or any persons connected with them)
received any remuneration during the year, nor have they
received expenses.
```
```
Page 19
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023`**
```
--------------------------------------------------------------------------
2023 2022
£ £ £ £
SUBSCRIPTIONS
Subscriptions and Contributions 36,474 21,672
INCOME
Administration fee from the bar 15,000 20,000
Hire of Hall 14,238 11,350
Pitch Rents - 60
Car Park 21,096 21,096
Leases 10,060 9,360
Licenses 22,100 19,600
Other income - 52
Government grants - -
------ ------
82,494 81,518
------- -------
118,968 103,190
OTHER INCOME
Interest Receivable 737 10
Charitable gift from Coralwharf 20,000 30,000
------- -------
139,705 133,200
EXPENDITURE
Property Expenses 37,576 26,883
Office and Administration 87,454 74,892
Finance Expenses 978 1,096
Governance Costs 5,781 5,860
------ ------
(131,789) (108,731)
------- -------
SURPLUS BEFORE TAXATION 7,916 24,469
======= =======
```
```
Page 20
```
## **`NEWTON ABBOT AND DISTRICT RECREATIONAL TRUST LIMITED (Limited by Guarantee)`**
## **`DETAILED INCOME AND EXPENDITURE FOR THE YEAR ENDED 30 SEPTEMBER 2023`**
|**`--------------------------------------------------------------------------`**|**`--------------------------------------------------------------------------`**|**`--------------------------------------------------------------------------`**|
|---|---|---|
||**`2023`**|**`2022`**|
||**`£`**|**`£`**|
|**`SUBSCRIPTIONS AND CONTRIBUTIONS`**|||
|`Contributions from Clubs`
|`17,935`
|`6,700`|
|`Subscriptions (playing)`|`9,074`|`7,419`|
|`Subscriptions (sporting)`|`5,436`|`5,149`|
|`Income Tax Recovered on Covenants`|`4,029`|`2,404`|
||`------`|`------`|
||`36,474`|`21,672`|
||`======`|`======`|
|**`PROPERTY EXPENSES`**|||
|`Rates`|`6,804`|`4,251`|
|`Heat and Light`|`22,485`|`16,040`|
|`Repairs to Property`|`4,515`|`3,911`|
|`Grounds Maintenance`|`3,772`|`2,681`|
||`------`|`------`|
||`37,576`|`26,883`|
||`======`|`======`|
|**`OFFICE AND ADMINISTRATION EXPENSES`**|||
|`Wages`|`36,858`|`29,044`|
|`Insurance`|`5,151`|`4,866`|
|`Cleaning`|`31,775`|`27,664`|
|`Postage, Advertising,`|||
|`Telephone and Stationery`|`2,168`|`3,230`|
|`Depreciation - Pavilion and Grounds`|`4,878`|`2,584`|
|`- Fixtures and Fittings`|`3,696`|`3,029`|
|`Loss/(Profit) on disposal of assets`|`-`|`56`|
|`Equipment Maintenance`|`2,631`|`4,419`|
|`Sundry Expenses`|`297`|`-`|
||`------`|`------`|
||`87,454`|`74,892`|
|**`FINANCE EXPENSES`**|`======`|`======`|
|`Bank Charges`|`153`|`221`|
|`Cricket Club Loan Fee`|`500`|`500`|
|`Squash and Tennis Club Loan Fee`|`325`|`375`|
||`------`|`------`|
||`978`|`1,096`|
||`======`|`======`|
|**`GOVERNANCE COSTS`**|||
|`Professional Fees`|`3,481`|`3,660`|
|`Reporting Accountants Fee`|`2,300`|`2,200`|
||`------`|`------`|
||`5,781`|`5,860`|
||`======`|`======`|
|||`Page 21`|