## MIZZYMEAD RECREATION CENTRE
**Charity No. 304589**
**Trustees’ Report and Unaudited Accounts**
**30 April 2024**
## **TRUSTEES ANNUAL REPORT**
The Trustees present their annual report with the unaudited statements of the charity for the year ended 30[th] April 2024.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Charity No. 304589**
## **Principal Office**
Mizzymead Recreation Centre Mizzymead Rise Nailsea Bristol BS48 2JJ
## **Trustees**
The following are Trustees or served during the year May 23 – Apr 24:
R Wyatt Full year S Curry Full year P Hunt Appointed Sep 23 Resigned Dec 23 C Waller Full year K Bawdon Full year R Chappell Full year J Clarke Full year P Faulkner Full year S Harris Appointed Mar 24 B Holloway Resigned Jan 24 R Holloway Resigned Sep 24 M Lockton Resigned Aug 23 K Nelson Appointed May 24 P Whitaker Appointed Dec 23
## **Key Management Personnel**
President R Wyatt Hon Chair S Curry Hon Secretary Current vacancy / P Hunt from Sep 23 to Dec 23 Hon Treasurer C Waller Bar Manager (employed) L Gillies
__________________________________________________________________________________
1
## **Section Representatives**
Nailsea Bowls Club R Chappell Nailsea Ladies Bowls Club J Clarke Nailsea Indoor Bowls Club R Holloway (to Sep 24) (Ladies section) B Holloway (to Jan 24) S Harris (from Mar 24) Nailsea Lawn Tennis Club M Lockton (to Aug 23) J Lawson (from Sep to Nov 23) – Rep only, not trustee. P Whitaker from Dec 23 Nailsea Bridge Club K Bawdon Nailsea Snooker Club P Faulkner Nailsea Pool Club K Nelson (from May 24)
## **Independent Examiner**
Joshua Kingston BSc, ACA Burton Sweet Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
## **Bankers**
CAF Bank Limited HSBC UK Lloyds Bank plc Santander UK plc Scottish Widows Bank
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2
## **OBJECTIVES AND ACTIVITIES**
Mizzymead Recreation Centre (MRC) was established by a Trust Deed dated 1[st] June 1965 to provide sports and recreation facilities for the benefit of the residents of the Parish of Nailsea. Title to the land at Mizzymead Rise was vested in the Charity Commissioners by Order dated 6[th] September 1973.
The Centre provides facilities for seven sections:
Nailsea Bowls Club - Outdoor Men Nailsea Ladies Bowls Club - Outdoor Ladies Nailsea Indoor Bowls Club Nailsea Lawn Tennis Club Nailsea Bridge Club Nailsea Snooker Club Nailsea Pool Club (new in the 2024/25 year)
Nailsea Ladies Bowls Club - Outdoor Ladies
Their seasons vary throughout the year. All facilities are available for use by the residents of Nailsea and surrounding Parishes.
All users have access to Darts, Table Tennis, Pool and Snooker in addition to the Sectionspecific facilities.
During the report period, the Centre facilities were also used by: a board games group, a mothers and toddlers group, Alive Activities dementia support group, an over-fifties fitness class, ballroom and line dancing groups, Nailsea and Backwell Rotary Club, Nailsea Musicals - a musical comedy club, Mizzy Maids skittles team, Slimming World and for bingo and yoga sessions.
The over-fifties fitness class and yoga class decided not to continue at the Centre due to reducing numbers and increased costs.
Most of the people involved in running the Centre, including its Sections, are volunteers.
We employ a bar manager / site administrator who is supported both by paid bar staff and volunteers - who often run the bar for section-specific events.
There is also an employed cleaner and part-time handyman.
The Centre hosts both regular and occasional meetings of other organisations. It also hosts regular private bookings for a variety of celebratory and memorial occasions.
In the 2024/25 year, the two outdoor bowls sections are considering joining together as a single section which will simplify the management of Outdoor Bowls.
Indoor bowls have recently closed the separate ladies section and now operate as a single section.
A request to join as a seventh section was received from a group of pool players. This was agreed and their participation was formalised in May 24. A pool table was purchased and the new group then refurbished it at their expense.
The Pool Club hope to extend their membership and install two further pool tables. They also wish to start a training academy to encourage new players.
The bar hopes to build on the success of Sunday lunches. They have been popular and are currently held once-a-month, as caterer availability allows.
A working party has been established to look at the long-term future of the Centre and suggest possible developments. They have engaged with the Town Council with regards to the needs of the town and how the Centre can continue to contribute.
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3
The Trustees confirm that they have had regard to the Charity Commission guidance on public benefits in the running of Mizzymead Recreation Centre.
## **ACHIEVEMENTS AND PERFORMANCE**
Mizzymead Recreation Centre continues to provide sports and recreation facilities for the benefit of the residents of Nailsea and the surrounding area.
All sections have been fully active and have attracted new members.
A well-supported event was held to celebrate the King’s Coronation.
Access to the indoor bowls area and accessible toilet was improved with the provision of an automated sliding door.
The Tennis Section were successful in gaining a grant to upgrade the tennis court flood lights to energy efficient LED lighting.
CCTV cameras were added to the car park and side walkway to improve security.
A new boiler was installed at the Games Room end of the building to replace the 14 year-old unit which had failed.
The five-year electrical installation inspection was completed, remedial work carried out as needed and a new certificate issued.
Our Accountant stepped-back at the end of the financial year following a business restructure. Recommendations were made as to suitable replacements and one of those was appointed. Their first involvement is the oversight of this report.
## **Financial Review**
The Charity has had an overall surplus of £17,851, an increase of £5,099 from the previous year (2023: £12,752).
Bar sales increased by around 10% (2024: £85,364, 2023: £77,751) and cost of supplies increased by around 11% (2024: £40,372, 2023: £36,429).
The surplus of the Recreation Centre will help fund future repairs and upgrades. £35.2k was spent on repairs and upgrades in the 2023/24 year.
The Centre has £100k on medium-term deposit which is not immediately needed for day-today expenses. It is maintained to cover the potential costs of an ageing building or other challenges, such as the COVID lockdown - where £20k was used to pay the bills while the Centre was closed. This was replenished once the Centre had reopened and funds were available. Maintaining this level of reserves is not a specific stated policy but, has been achieved ‘as desirable’ for at least the last five years.
The sections achieved an overall surplus to help fund their section-specific repairs and upgrades to playing surfaces and equipment.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
A Trust Deed constitutes the governing document, and the charity is constituted via a Charitable Trust.
The President, Chair, Secretary and Treasurer are elected at the Annual General Meeting. A vacancy may be filled at a Site Management Committee meeting.
Each Section elects a representative to the Site Management Committee at their Section AGM. Vacancies may be filled at Section Committee Meetings.
Nailsea Town Council have the right to appoint a representative to sit on the SMC. This position was vacant during the 2023/24 year. It has been filled for the 2024/25 year.
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4
## **Statement of trustees’ responsibilities**
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in [England & Wales/Scotland/Northern Ireland] requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity’s Trustees, C (J oLflas C Waller Trustee
Date: ………………………… 27 September 2024
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5
## **Independent examiner’s report to the trustees of Mizzymead Recreation Centre**
I report to the trustees on my examination of the accounts of Mizzymead Recreation Centre (the Charity) for the year ended 30 April 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Joshua Kingston BSc, ACA Burton Sweet Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
Date: ………………………… 27 September 2024
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6
**MIZZYMEAD RECREATION CENTRE**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 30 APRIL 2024**
|**Note**
**Income from:**
Charitable activities
**2**
Other trading activities
**3**
Other income
**4**
**Total income**
**Expenditure on:**
Raising funds
**5**
Charitable activities
**6**
**Total expenditure**
**8**
**Transfers**
**Other gains and losses**
Other losses
**Net movement in funds**
**Total funds at start of year**
**16**
**Total funds at end of year**
**16**
**Net income/(expenditure)**|**Unrestricted**
**funds**
**£**
59,816
120,890
13,153
193,859
40,372
97,099
137,471
56,388
110,098
-
166,486
216,619
383,105|**Endowment**
**funds**
**£**
-
-
-
-
-
38,537
38,537
(38,537)
(110,098)
-
(148,635)
1,741,640
1,593,005|**Total funds**
**2024**
**£**
59,816
120,890
13,153
193,859
40,372
135,636
176,008
17,851
-
-
17,851
1,958,259
1,976,110|Total funds
2023
£
50,172
110,631
17,882
178,685
36,429
129,268
165,697
12,988
-
(236)
12,752
1,945,507
1,958,259|
|---|---|---|---|---|
The Charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
**The notes on pages 9 to 19 form part of these financial statements See note 10 for fund-accounting comparative figures**
7
## **MIZZYMEAD RECREATION CENTRE**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2024**
|**Note**
**Fixed assets**
Tangible assets
**11**|**2024**
2023
**£**
£
1,766,526
1,769,879|
|---|---|
|**Current assets**
Stock
**12**
Debtors
**13**
Cash at bank and in hand|1,766,526
1,769,879
7,082
5,632
3,508
24,357
237,049
208,205|
|**Liabilities**
Creditors : amounts falling
due within one year
**14**|247,639
238,194
(38,055)
(49,814)|
|**Net current assets**|209,584
188,380|
|**Total assets less current liabilities**|1,976,110
1,958,259|
|**Net assets**|1,976,110
1,958,259|
|**FUNDS**
**Unrestricted funds**
General funds
**17**
Designated funds
**17**
**Endowment funds**
**17**|209,584
216,619
173,521
-
1,593,005
1,741,640|
|**Total funds**|1,976,110
1,958,259|
27 September These financial statements were approved by the Trustees on ....................... and are signed on their behalf by:2024
C Waller Trustee
**The notes on pages 9 to 19 form part of these financial statements**
8
**MIZZYMEAD RECREATION CENTRE NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 30 APRIL 2024**
## **1 Accounting policies**
## **Accounting convention**
The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Charities Act 2011.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity is a public benefit entity as defined under FRS102. The Trustees consider that there are no material uncertainties affecting the ability of the charity to continue as a going concern.
## **Income**
Income from donations is included in income when these are receivable, except as follows:
I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods; II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.
Legacies are included on a receivable basis where charity is entitled to the income, it can be measured reliably and receipt is probable. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is not included in income but is treated as a contingent asset and disclosed if material.
Investment income is included on a receivable basis.
Donations in kind comprise donated services where the costs are measurable and the services would otherwise have to be paid for to maintain operational effectiveness.
## **Expenditure**
Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.
## _**Raising funds**_
Raising funds expenditure include those costs incurred in seeking voluntary contributions, costs of goods sold and other costs which include the costs of running and participating in fundraising events and collections and cost of goods purchased for resale.
## _**Charitable Activities**_
Grants awarded are allocated to charitable activities.
9
**MIZZYMEAD RECREATION CENTRE**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 APRIL 2024**
## **1 Accounting policies** _**(continued)**_
Grants awarded are treated as expenditure and a liability in the accounts as soon as they become legal or constructive obligations. In the case of multi-year grant awards, the funding for all years is immediately recognised unless there are conditions which need to be met by the recipient to enable the release of subsequent years’ funding.
## _**Governance costs**_
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Governance costs are included within support costs.
## _**Allocation and apportionment costs**_
Certain expenditure is directly attributable to specific activities and this has been included in those cost categories. Other costs, which are attributable to more than one category, are apportioned across cost categories on the basis of an assessment of workload carried out from time to time.
Overhead support costs have been allocated between fundraising and publicity costs, fundraising trading and charitable activities. The apportionment has been allocated on the basis of usage and is analysed in note 6.
## **Pension costs and other post-retirement benefits**
The charity contributes to defined contribution pension schemes. Contributions payable to the charity's pension schemes are charged to the Statement of Financial Activities in the period to which they relate.
## **Tangible fixed assets**
Fixed assets are held at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of an asset, less its estimated ultimate residual value, over the useful life of that asset as follows:
Sports Surfaces - 5% Reducing Balance ; Straight Line 20 years Contents - 7.5% Reducing Balance ; Straight Line 10-15 years Building Improvements - Straight Line 20 years
The Charity, in partnership with it's appointed Agent, opted to implement a new base line position for it's fixed asset register using a comprehensive valuation of the site assets in August 2016.
## **Fixed asset investments**
Investments are included at market value at 31 April. The SOFA includes the net gains and losses arising on revaluations and disposals during the year.
## **Stock**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
10
**MIZZYMEAD RECREATION CENTRE NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 APRIL 2024**
## **1 Accounting policies (continued)**
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees.
Further explanation of the nature and purpose of each fund is included in note of the financial statements.
## **2 Income from: Charitable activities**
|Section charges|**Unrestricted**
**funds**
**£**
59,816
59,816|**Endowment**
**funds**
**£**
-
-|**Total funds**
**2024**
**£**
59,816
59,816|Total funds
2023
£
50,172
50,172|
|---|---|---|---|---|
Prior year comparatives were represented by unrestricted funds.
## **3 Income from: Other trading activities**
|Bar and catering
User subscriptions
Lettings and hire|**Unrestricted**
**funds**
**£**
85,364
11,879
23,647
120,890|**Endowment**
**funds**
**£**
-
-
-
-|**Total funds**
**2024**
**£**
85,364
11,879
23,647
120,890|Total funds
2023
£
77,751
10,770
22,110
110,631|
|---|---|---|---|---|
Prior year comparatives were represented by unrestricted funds.
## **4 Other Income**
|Solar panel income
Bank interest received
Grants
Other|**Unrestricted**
**funds**
**£**
6,620
2,214
-
4,319
13,153|**Endowment**
**funds**
**£**
-
-
-
-
-|**Total funds**
**2024**
**£**
6,620
2,214
-
4,319
13,153|Total funds
2023
£
4,895
738
7,697
4,552
17,882|
|---|---|---|---|---|
Prior year comparatives were represented by unrestricted funds.
11
**MIZZYMEAD RECREATION CENTRE NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 APRIL 2024**
## **5 Expenditure on: Raising funds**
|Bar and catering|**Unrestricted**
**funds**
**£**
40,372
40,372|**Endowment**
**funds**
**£**
-
-|**Total funds**
**2024**
**£**
40,372
40,372|Total funds
2023
£
36,429
36,429|
|---|---|---|---|---|
Prior year comparatives were represented by unrestricted funds.
## **6 Expenditure on: Charitable activities**
|Employee costs
Motor and travel costs
Premises costs
General administrative costs
Legal and professional costs
Governance costs
(Note 7)
Amortisation, depreciation, impairment,
profit/loss on disposal of fixed assets|**Unrestricted**
**funds**
**£**
41,071
1,728
38,887
-
10,189
1,611
3,613
97,099|**Endowment**
**funds**
**£**
-
-
-
38,537
-
-
-
38,537|**Total**
**2024**
**£**
41,071
1,728
38,887
38,537
10,189
1,611
3,613
135,636|Total
2023
£
36,974
1,436
34,034
26,947
9,722
18,819
1,336
129,268|
|---|---|---|---|---|
Prior year comparatives were represented by unrestricted funds except for £26,947 related to the cost 'Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets'.
12
**MIZZYMEAD RECREATION CENTRE**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 APRIL 2024**
## **7 Governance costs**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|Unrestricted|Endowment|Total funds|Total funds|
|funds|funds|2024|2023|
|£|£|£|£|
|-|
|Accountancy fees|3,613|3,613|1,336|
|-|-|-|-|
|Trustee expenses|
|-|
|3,613|3,613|1,336|
**----- End of picture text -----**
Prior year comparatives were represented by unrestricted funds.
## **8 Net income/(expenditure) for the year**
This is stated after charging:
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2024|2023|
|£|£|
|Independent Examiner's Remuneration|- Independent examination|750|1,336|
|- Accounts|1,250|-|
|-|-|
|Trustees' travel, meeting and training expenses|
|Depreciation|30,243|26,947|
**----- End of picture text -----**
No Trustees have been reimbursed for their out of pocket travel expenses (2023:NIL). No Trustee received any remuneration during the year.
Aggregate donations from Trustees, key management personnel, and other related parties was NIL (2023: £NIL).
## **9 Staff costs and numbers**
The aggregate payroll costs were:
**----- Start of picture text -----**
||||
|---|---|---|
|2024|2023|
|£|£|
|Wages & salaries|40,156|36,736|
|-|-|
|Social security costs|
|Pension contributions|915|238|
|41,071|36,974|
**----- End of picture text -----**
No employee received emoluments of more than £60,000 this and previous year.
The average monthly number of employees during the year was 6 (2023: 6), calculated on the basis of average headcount. The total employment benefits received by key management personnel including employer national insurance and employer pension were £14,805 (2023: £14,400).
13
## **MIZZYMEAD RECREATION CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 APRIL 2024**
**----- Start of picture text -----**
10 Statement of Financial Activities comparative figures
Unrestricted Restricted Total funds
For the year ended 30 April 2023 funds funds 2023
£ £ £
Charitable activities 50,172 - 50,172
-
Other trading activities 110,631 110,631
Other 17,882 - 17,882
Total income 178,685 - 178,685
Expenditure on:
-
Raising funds 36,429 36,429
Charitable activities 102,321 26,947 129,268
Total expenditure 138,750 26,947 165,697
Net income/(expenditure) for the year
39,935 (26,947) 12,988
and net movement in funds
Other gains and loses
-
Other gains (236) (236)
Net movement in funds 39,699 (26,947) 12,752
Total funds at start of year 176,920 1,768,587 1,945,507
Total funds at end of year 216,619 1,741,640 1,958,259
**----- End of picture text -----**
14
**MIZZYMEAD RECREATION CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 APRIL 2024**
## **11 Tangible fixed assets**
|**Cost or valuation**
At 1 May 2023
Additions
Disposals
Transfers
At 30 April 2024
**Depreciation**
At 1 May 2023
Charge for the year
Disposals
At 30 April 2024
**Net book value**
At 30 April 2024
At 30 April 2023|**Building**
**improvement**
**£**
-
-
-
51,896
51,896
-
2,595
-
2,595
49,301
-|**Land and**
**buildings**
**£**
1,300,000
-
-
-
1,300,000
-
-
-
-
1,300,000
1,300,000|**Sports**
**surfaces**
**£**
279,796
21,480
-
292,547
35,725
13,554
48,843
243,704
244,071
(8,729)
(436)|**Contents**
**£**
269,003
13,703
-
230,810
43,195
14,094
-
57,289
173,521
225,808
(51,896)|**Total**
**£**
1,848,799
35,183
(8,729)
-
1,875,253
78,920
30,243
108,727
1,766,526
1,769,879
(436)|
|---|---|---|---|---|---|
The buildings, including improvements, the land and the sports surfaces are considered to be endowed assets by the Trustees.
15
## **MIZZYMEAD RECREATION CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 APRIL 2024**
|**12**
**Stock**
Raw materials and consumables
**13**
**Debtors**
**Due in less than one year:**
Prepayments and accrued income
Other debtors
**14**
**Creditors: amounts falling due within one year**
Bank loans and overdrafts
Other creditors
Taxes
Accruals and deferred income
**15 Deferred income**
At 1 May
Released in current year
Deferred in current year
At 30 April|**2024**
**£**
7,082
7,082
**2024**
**£**
1,506
2,002
3,508
**2024**
**£**
-
28,828
579
8,648
38,055
**2024**
**£**
17,602
(17,602)
4,894
4,894|2023
£
5,632
5,632
2023
£
21,559
2,798
24,357
2023
£
(578)
12,993
18,763
18,636
49,814
2023
£
895
(895)
17,602
17,602|
|---|---|---|
Movement of the deferred income included in creditors.
16
**MIZZYMEAD RECREATION CENTRE**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 APRIL 2024**
## **16 Movement in funds**
## **For the year ended 30 April 2024**
|**Endowment fund**
**Unrestricted funds**
General funds
**Total funds**
Designated:
Fixed asset fund|**At 1 May**
**2024**
**£**
1,741,640
1,741,640
216,619
-
216,619
1,958,259|**Income**
**£**
-
-
193,859
-
193,859
193,859|**Expenditure**
**£**
(38,537)
(38,537)
(137,471)
-
(137,471)
(176,008)|**Transfers**
**£**
(110,098)
(110,098)
(63,423)
173,521
110,098
-|**At 30 April**
**2024**
**£**
1,593,005
1,593,005
209,584
173,521
383,105
1,976,110|
|---|---|---|---|---|---|
## **Endowment fund**
The endowed funds are comprised of the buildings, land and sports surfaces of the charity.
## **Designated fund**
## Fixed asset fund
The fixed asset fund represents the non-endowed fixed assets of the charity.
## Transfer:
The transfer in the year represents a correction to the split of the assets between funds, and the additions made in the period.
17
**MIZZYMEAD RECREATION CENTRE NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 APRIL 2024**
**16 Movement in funds** _**(continued)**_
**For the year ended 31 April 2023**
|**Endowment fund**
**Unrestricted funds**
General funds
**Total funds**|**At 1 May**
**2022**
**£**
1,768,587
1,768,587
176,920
176,920
1,945,507|**Income**
**£**
-
-
178,685
178,685
178,685|**Expenditure**
**£**
(26,947)
(26,947)
(138,986)
(138,986)
(165,933)|**Transfers**
**£**
-
-
-
-
-|**At 30 April**
**2023**
**£**
1,741,640
1,741,640
216,619
216,619
1,958,259|
|---|---|---|---|---|---|
**17 Analysis of net assets between funds**
|**As at 31 April 2024**
Tangible fixed assets
Other net assets
**As at 31 April 2023**
Tangible fixed assets
Other net assets|**Unrestricted Unrestricted**
**Endowment**
**Designated**
**General**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**£**
1,593,005
173,521
-
1,766,526
-
-
209,584
209,584
1,593,005
173,521
209,584
1,976,110
**Unrestricted Unrestricted**
**Endowment**
**Designated**
**General**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**£**
1,741,640
-
-
1,741,640
-
-
216,619
216,619
1,741,640
-
216,619
1,958,259|
|---|---|
18
**MIZZYMEAD RECREATION CENTRE**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 30 APRIL 2024**
## **18 Related party transactions**
There are no transactions with trustees or other related parties other than those disclosed as required by the SORP elsewhere in the financial statements.
19