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2022-03-31-accounts

REGISTERED CHARITY NUMBER: 305242

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

HASTINGS & ROTHER SPORTS TRUST

Acuity Professional Partnership LLP Unit 2.02 High Weald House Glovers End Bexhill East Sussex TN39 5ES

HASTINGS & ROTHER SPORTS TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Statement of Financial Position 5
Notes to the Financial Statements 6 to 13
Detailed Statement of Financial Activities 14 to 15

HASTINGS & ROTHER SPORTS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The object of the Charityis, in the interests of social welfare, to improve the conditions of life for the inhabitantsof and visitors to the area of benefit, being Hastings and St Leonards and the neighbourhood thereof, without distinction of political, religious, or other opinions by the provision and maintenance of a sports facility and recreation ground.

Through the provision of affordable, subsidised sporting facilities, we aim to encourage local people and visitors to the town, to participate in sporting activities as a means of recreation. This, in turn, assists the well being, fitness and general health of the participants.

The Trustees have complied with the duty in Section 17 of the 2011 Charities Act to have due regard to guidance published by the Charity Commission, including public benefit guidance. The aim is to strive for sustainability in order that the objects of the Charity may continue to be carried out.

Significant activities

The strategies for achieving the objectives include continued efforts in the promotion of sporting and business activities, in the form of the provision of playing arenas, meeting rooms, social functions, catering and bars.

The Trustees continue to work with a development team to deliver a long term strategic plan to re-locate the facilities and provide enhanced facilities.

The Charity co-operates with local primary, secondary schools and colleges. The Charity further regularly provides facilities, at reduced rates, providing a charity benefit is proven.

The charity's income continues to be under pressure as previously reported due to general economic conditions and challenges in hiring our facilities during working hours.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

The Trustees of the Charity, for the purposes of Charity Law, are incorporated under the name of Horntye Park Management Company Limited. Under the requirements of the Memorandum and Articles of Association of this company, one third of the Charity's Trustees shall retire from office at the Annual General Meeting every year. The retiring Trustees shall be those who have been longest in office since their last election, and shall be eligible for re-election.

Organisational structure

Proceedings of the Trustees are governed by the Memorandum and Articles of Association of Horntye Park Management Company Limited, and the Charity is organised so that the Trustees meet regularly to manage its affairs. The senior members of the Management Committee meet on a more frequent basis as required. Trustees may delegate any of their powers to subcommittees containing at least one Trustee.

Day to day decisions regarding operations, staffing, accounts etc. are undertaken by the Management Committee. Important issues are debated by a subcommittee. Recommendations are put to the main board for ratification, policy decisions are debated at main board level.

Page 1

HASTINGS & ROTHER SPORTS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees

The Trustees are all familiar with the practical work of the Charity. They are also made aware of their responsibilities as Trustees and the requirements thereof.

Risk management

The Trustees actively review, on a regular basis, the major risks that the Charity faces and believe that the independent examination and review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate significant risks.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

305242

Principal address

Horntye Park Bohemia Road Hastings TN34 1EX

Trustees P N Finch M O'Connor D Nessling B Dixon K Woolley C J Thayre C M Ford Mr I Gillespie

Independent Examiner Acuity Professional Partnership LLP Unit 2.02 High Weald House Glovers End Bexhill East Sussex TN39 5ES

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ P N Finch - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HASTINGS & ROTHER SPORTS TRUST

Independent examiner's report to the trustees of Hastings & Rother Sports Trust

I report to the charity trustees on my examination of the accounts of Hastings & Rother Sports Trust (the Trust) for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statemen t

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountants in England and Wales which is one of the listed bodies.

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 Trust 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.

Rachel Taylor FCA Acuity Professional Partnership LLP Unit 2.02 High Weald House Glovers End Bexhill East Sussex TN39 5ES

Date: .............................................

Page 3

HASTINGS & ROTHER SPORTS TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Provision of sports and recreational facilities
Other trading activities
3
Total
EXPENDITURE ON
Charitable activities
5
Provision of sports and recreational facilities
Net gains on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
-
262,844
12,069
274,913
312,975
435,000
396,938
401,681
798,619		 Restricted
fund
£
-
-
-
-
65,953
-
(65,953)
1,913,035
1,847,082		 2022
Total
funds
£
-
262,844
12,069
274,913
378,928
435,000
330,985
2,314,716
2,645,701		 2021
Total
funds
£
13,828
53,725
121,741
189,294
323,123
-
(133,829)
2,448,545
2,314,716

The notes form part of these financial statements

Page 4

HASTINGS & ROTHER SPORTS TRUST

STATEMENT OF FINANCIAL POSITION 31 MARCH 2022

Notes
FIXED ASSETS
Tangible assets
10
Social investments
11
CURRENT ASSETS
Stocks
12
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2022
£
2,372,143
92,500
2,464,643
3,509
45,229
313,474
362,212
(144,857)
217,355
2,681,998
(36,297)
2,645,701
798,619
1,847,082
2,645,701		 2021
£
2,507,896
-
2,507,896
2,610
11,339
675
14,624
(115,464)
(100,840)
2,407,056
(92,340)
2,314,716
401,681
1,913,035
2,314,716

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

.............................................

P N Finch - Trustee

............................................. D Nessling - Trustee

The notes form part of these financial statements

Page 5

HASTINGS & ROTHER SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

INCOME

Voluntary income is received by way of subscriptions and donations and is included in full in the Statement of Financial Activities when received. The value of services provided by volunteers has not been included.

Other incoming resources are included in the Statement of Financial Activities when they are received.

RESOURCES EXPENDED

Resources expended are recognised in the year in which they are incurred, including attributable VAT which cannot be recovered. Expenditure is allocated against particular activities where the cost relates directly to that activity. Costs relating to the overall direction and administration of each activity are apportioned on an estimated basis.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Plant and machinery - 33% on cost and 10% on cost Fixtures and fittings - 20% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

All stock held is for bar and catering activities.

TAXATION

The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING

Unrestricted Funds

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the Charity without further specified purpose and are available for general funds.

Restricted Funds

Restricted Funds relate to the capital expenditure grant that was received from the National Lottery and can only be used for particular restricted purposes within the objectives of the charity.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

PENSION COSTS

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 6

HASTINGS & ROTHER SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES - continued

USE OF ASSETS ON A FREE OF CHARGE BASIS

Incoming resources by way of perceived donations have not been included.

2. DONATIONS AND LEGACIES

Donations
3.
OTHER TRADING ACTIVITIES
Miscellaneous income
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Sundry rent received
Provision of sports and recreational facilities
Ground hire and advertising
Provision of sports and recreational facilities
Sports hall and room hire
Provision of sports and recreational facilities
Bar and catering income
Provision of sports and recreational facilities
Grants
Provision of sports and recreational facilities
5.
CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
Provision of sports and recreational
facilities
249,250

£65,953 (2021: £65,953) of the above costs were attributable to the restricted funds, £313,676 (2021: £257,170) of the above were attributable to unrestricted funds.

It was agreed with Claremont School that the initial planning costs for the relocation of sports facilities to the new site would be shared equally between Claremont School and the Trust. Unrestricted expenditure includes the Trust's share of these costs amounting to £15,299.

continued...

Page 7

HASTINGS & ROTHER SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

6. SUPPORT COSTS

Use of
sporting and
other Bar and Sundry rent
facilities catering received 2022Total 2021
Governance 3,247 1,673 - 4,920 1,500
Finance 5,004 2,814 - 7,818 8,207
Information technology 1,909 1,074 - 2,983 1,112
Depreciation 55,021 30,949 - 85,970 86,753
Legal fees 41,986 23,617 - 65,603 30,222
107,167 60,127 - 167,294 127,794

Bar and catering costs include the cost of refreshments provided in association with the hire of rooms. Income from these activities is included within 'Sports hall and room hire'.

The support costs have been allocated to the activities based on the hours worked in each activity.

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remunerationor other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

8. STAFF COSTS

The average monthly number of employees during the year was as follows:

2022 2021
Charitable activities 10 10

No employees received emoluments in excess of £60,000.

9.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Provision of sports and recreational facilities
Other trading activities
Total
EXPENDITURE ON
Charitable activities
Provision of sports and recreational facilities		 Unrestricted
fund
£
13,828
53,725
121,741
189,294
257,170		 Restricted
fund
£
-
-
-
-
65,953		 Total
funds
£
13,828
53,725
121,741
189,294
323,123

continued...

Page 8

HASTINGS & ROTHER SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
fund
£
£
NET INCOME/(EXPENDITURE)
(67,876)
(65,953)
RECONCILIATION OF FUNDS
Total funds brought forward
469,557
1,978,988
TOTAL FUNDS CARRIED FORWARD
401,681
1,913,035
10.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
Plant and
and
property
machinery
fittings
£
£
£
Cost
At 1 April 2021
4,337,658
76,540
82,337
Disposals
(50,000)
-
-
At 31 March 2022
4,287,658
76,540
82,337
Depreciation
At 1 April 2021
1,829,762
76,540
82,337
Charge for year
85,753
-
-
At 31 March 2022
1,915,515
76,540
82,337
Net book value
At 31 March 2022
2,372,143
-
-
At 31 March 2021
2,507,896
-
-		 Total
funds
£
(133,829)
2,448,545
2,314,716
Totals
£
4,496,535
(50,000)
4,446,535
1,988,639
85,753
2,074,392
2,372,143
2,507,896

11. SOCIAL INVESTMENTS

Social Investments consist of initial expenditure in repect of works carried out on the relocation of sports facilities to Claremont School. The Collaboration Agreement between the Trust and Claremont School allows for up to £400,000 to be spent by the Trust on the Claremont project that is repayable over 5 years, on an interest free basis, by Claremont School up to the point when planningpermission is granted for the development of the land at Horntye Park.

continued...

Page 9

HASTINGS & ROTHER SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12.
STOCKS
2022
£
Bar and catering stock
3,509
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Trade debtors
28,744
Other debtors
10,000
VAT
6,485
45,229
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Bank loans and overdrafts (see note 16)
31,762
Trade creditors
26,596
Taxation and social security
5,785
Other creditors
80,714
144,857
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022
£
Bank loans (see note 16)
36,297
16.
LOANS
An analysis of the maturity of loans is given below:
2022
£
Amounts falling due within one year on demand:
Bank overdrafts
21,762
Bank loans
10,000
31,762
Amounts falling between one and two years:
Bank loans - 1-2 years
10,000
Amounts falling due between two and five years:
Bank loans - 2-5 years
26,297		 2021
£
2,610
2021
£
7,933
-
3,406
11,339
2021
£
15,514
21,240
4,705
74,005
115,464
2021
£
92,340
2021
£
5,014
10,500
15,514
50,000
42,340

continued...

Page 10

HASTINGS & ROTHER SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Investments
Current assets
Current liabilities
Long term liabilities		 Unrestricted
fund
£
525,061
92,500
340,450
(123,095)
(36,297)
798,619		 Restricted
fund
£
1,847,082
-
21,762
(21,762)
-
1,847,082		 2022
Total
funds
£
2,372,143
92,500
362,212
(144,857)
(36,297)
2,645,701		 2021
Total
funds
£
2,507,896
-
14,624
(115,464)
(92,340)
2,314,716

Restricted Funds

Restricted Funds relate to the capital expenditure grant that was received from the National Lottery and can only be used for particular restricted purposes within the objectives of the charity.

Unrestricted Funds

Unrestricted funds are donations and other incoming resources receivable or generated for the objectives of the Charity without further specified purpose and are available for general funds.

18. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS
Net movement in funds, included in the above are
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 as follows:
Incoming
resources
£
274,913
-
274,913		 At 1.4.21
£
401,681
1,913,035
2,314,716
Resources
expended
£
(312,975)
(65,953)
(378,928)		 Net
movement
in funds
£
396,938
(65,953)
330,985
Gains and
losses
£
435,000
-
435,000		 At
31.3.22
£
798,619
1,847,082
2,645,701
Movement
in funds
£
396,938
(65,953)
330,985

continued...

Page 11

HASTINGS & ROTHER SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.4.20
in funds
£
£
Unrestricted funds
General fund
469,557
(67,876)
Restricted funds
Restricted
1,978,988
(65,953)
TOTAL FUNDS
2,448,545
(133,829)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
189,294
(257,170)
Restricted funds
Restricted
-
(65,953)
TOTAL FUNDS
189,294
(323,123)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.4.20
in funds
£
£
Unrestricted funds
General fund
469,557
329,062
Restricted funds
Restricted
1,978,988
(131,906)
TOTAL FUNDS
2,448,545
197,156		 At
31.3.21
£
401,681
1,913,035
2,314,716
Movement
in funds
£
(67,876)
(65,953)
(133,829)
At
31.3.22
£
798,619
1,847,082
2,645,701

continued...

Page 12

HASTINGS & ROTHER SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

18. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 Incoming
resources
£
464,207
-
464,207		 Resources
expended
£
(570,145)
(131,906)
(702,051)		 Gains and
Movement
losses
in funds
£
£
435,000
329,062
-
(131,906)
435,000
197,156

19. EMPLOYEE BENEFIT OBLIGATIONS

The charity operated the NEST pension scheme during the year along-side an independent employer scheme. Both pension schemes operated are operated on a defined contribution basis and minimum levels of contributions are made by the charity.

20. RELATED PARTY DISCLOSURES

There are no related party transactions identified.

21. SALE OF ASSETS

During the year The Trust disposed of 2 cottages on the site of Horntye Park in order to raise funds for the relocation of sports facilities to Claremont School. The sale of assets realised £485,000. After the repayment of mortgages and legal costs The Trust netted funds of £427,606. The sale of the cottages is reflected on the Statement Of Financial Affairs as a realised gain of £435,000 and on the Statement Of Financial Position as a disposal of fixed assets of £50,000, which was the original build cost of the properties.

Page 13

HASTINGS & ROTHER SPORTS TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Miscellaneous income
Charitable activities
Sundry rent received
Ground hire and advertising
Sports hall and room hire
Bar and catering income
Grants
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Hire of equipment
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Property and ground maintenance
Cleaning and waste disposal
Repairs and renewals
Motor and travelling
Staff training
Bar and catering purchases
Bar and catering maintenance
Licences
Support costs
Management
Computer costs
Carried forward		 2022
£
-
12,069
8,499
82,193
90,576
43,484
38,092
262,844
274,913
133,394
5,462
3,127
3,100
8,704
9,556
36,585
1,744
1,147
1,722
875
14,434
103
-
387
822
20,175
3,409
4,504
249,250
2,999
2,999		 2021
£
13,828
121,741
10,400
27,214
15,931
180
-
53,725
189,294
110,069
2,682
2,306
2,156
6,189
7,668
25,041
1,057
1,375
460
255
23,826
43
3,041
39
-
5,981
1,449
1,692
195,329
1,112
1,112

This page does not form part of the statutory financial statements

Page 14

HASTINGS & ROTHER SPORTS TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Management
Brought forward
Freehold property
Finance
Bank charges
Bank loan interest
Governance costs
Legal and professional fees
Independent examiner's fees
Total resources expended
Net expenditure before gains and losses
Realised recognised gains and losses
Realised gains/(losses) on investment property
Net income/(expenditure)		 2022
£
2,999
85,753
88,752
2,304
4,973
7,277
32,149
1,500
33,649
378,928
(104,015)
435,000
330,985		 2021
£
1,112
86,753
87,865
1,694
6,513
8,207
30,222
1,500
31,722
323,123
(133,829)
-
(133,829)

This page does not form part of the statutory financial statements

Page 15