Charity registration number 30S982 (England and Wales) THE CENTRAL SOCIALAND RECREATIONAL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 THE CENTRAL SOCIALAND RECREATIONAL TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees W H Robinson KA Walters D Chapple LLeo Secretary Beverley Gold Charity number (England and Wales) 305982 Registored office 93 Tabernade Streel London EC2A 4BA Independent examiner David Terry FCA Ramon Lee Ltd Chattered Accounlants 93 Tabernacle Street London EC2A48A Bankers and Investors Coutls & Co. 440 Strand London WC2R OQS Website W4W.CSrt.info THE CENTRAL SOCIALAND RECREATIONAL TRUST CONTENTS Page Trustees, report Independent examiner's report Slalement of financial aclivilies Balance sheet Notes lo the financial slalemenls 8-17 THE CENTRAL SOCIALAND RECREATIONAL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Truslees present their annual report and finan¢ial statemenls for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies sel out in note 1 to the rinancial statements and comply with the Charity's Trust Deed, the Charitie5 Act 2011, FRS 102 "The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland" and the Charities SORP 'Acoounling and Reporting by Charities.. Statement of Recommended Praciice applicable lo charities PTeparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" Objectives and activities The objects of the Charity.. to improve the conditions of boy and girls in England under the age of 21 and of all olher persons who by reason of (heir poverty would otheNise be unable lo obtain fac4liiies for recreational 01 other leisure time occupations., lo provide facilities for recreational or other leisure lime occupations for such persons in Ihe inlerests of social welfare and in particular to provide equipment or funding lo be used for recreational or other leisure lime occupations. The Charity carried oul the objeclives noted above through the award of grants lo sporting bodies and organisallons which benefit young people. The grants were awarded to help the various organisalions lo mainly acquire sporting equipment. GRANT MAKING POLICY Grants are awarded after submission of daim by Ihe applicant to the Trustees. The Trustees review the application lo judge if the grant falls within the Charity's objectives and whether the application meets ils requireinents in terms of the benefits il gives young persons. Each application is discussed, reviewed and decided upon by the Trustees at their regular meetings. For Ihe year ended 31 March 2025. the TTuslees have agreed that grants will be made mainly for the purchase of equipment, wilh preference given to the following Ihree categories.. clubslorganisations which are affiliated lo a National Governing body new setNices that provide a social communiiy funclion. again that should be affilialed lo a National Governing body grants generally will be no more than £1,500 although the Truslees will consider applications above Ihis figure in exceptional circumstances. Achicvoments and performance During Ihe year, the Charity made grant awards lotalling £53,486 (2024 - £41,793). The grants were awarded to 49 (?.U24 - 46) organisalions involved in sporting and youth activities. Financial review The deficit for Ihe year amounled lo £20,615 (2024- surplus £77,470). The Trust incurred a defiLit of £38,141 (2024 deficit £26,922) prior lo an investment gain arising on the Chariws investrnenl porlfolio lolalling £17,526 (2024 - surplus £104,392). Principal funding came from the inveslmenl income arising on the Chanty's inveslmenl portfolio. Investment returns increased from £30,912 in the year 31 Marth 2024 to £32,527 for the year ended 31 March 2025. 11 is the aim of Ihe Trustees lo maximise the levels of granls paid each year whilst maintaining the Trust's capital, Ihereby ensuring the availability ol inc(Mne in future years so Ihal granl giving may be mainlained. There have been no major changes in the way the Charity has operated or ils policy for c2rrying oul its objeclives. The Charity is not reliant on the services of unpaid volunteers or donations in kind. THE CENTRAL SOCIALAND RECREATIONAL TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 REVIEW OF ACTIVITIES The Trusl has continued lo operate in much of the same way as in previous years. The Trustees endeavour lo manage the Charity so Ihal investment relums are maximised lo enable the level of gr2nls paid to be mainlained. A total of 49 organisalions have benefitted in the year under review from granls, with the amounts given ranging from £200 10 £2,000. Grants are prirnarily given for sporting equipmenl or to improve sportin9 facilities. RESERVES POLICY At the balance sheet date, the Charity had relained unrestricted funds lolalling £1,201,621 {2024- £1,222,236). 11 is the policy of the Trustees lo mainlain reserves at their current levels so that sutficienl investment income may be derived in order lo finan￿ the award of granls. The maintenance of such significant resewves represents the Trustees, aims of long term operations through the continued receipt of reasonable levels of investment income to finance grant awards, whilst maintaining a hedge against possible future decreases in the market value of inveslmenls, PRINCIPAL FUNDING SOURCES The principal funding source of Ihe Charity is growth and dividend income from the inveslmenl portfolio. INVESTMENT POWERS AND POLICY The Trust Deed authorises the Trustees to make and hold investments using the general funds of the Charity. The Trustees have the power lo invest in any way that they see fil. 11 is the policy of the Trustees to hoEd inveslmenls at current levels. The investment holdings are maintained through a portfolio of government bonds. corporale bonds, equilies, property and olher allernalive inveslments, managed by a recognised investment manager. The portfolio is mainly low risk as the Trustees concentrate on a relatively secure income stream rather Ihan capital growth. Plan5 for future periods The Trustees plan lo continue the Trust's aclivrties so thal it operates on a similar basis lo which il has operated lo this point. If income returns are maintained al similar levels lo the current year, Ihey plan to continue giving grants up lo the maximum level each year wilhoul eroding the Trust's capital and investment portfolio. Public Benefit statement In shaping our objeGlives for Ihe year and planning our aclivilies, Ihe Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity {PD2)'. The achievèmenls and activities above demonslrale the public benefit arising through the Charity's activilies. Structure, governance and management Governing Document The organisation is a charilable Trust, established on 14th June q 962 and registered as a Charity with the Charity Commission. The organisalion is govemed by Trust Deed whith sets out the objectives and powers of the Charity and governs Ihe actions of the Trustees. Recruitment and Appointment of Trustees The Truslees of the organisalion are also Ihe Charity Truslees for Ihe purposes of charity law. The Trust Deed stipulales that there shall nol be less than three nor more than four Trustees. The power lo appoint new Trustees rests wilh Boxing England. There is no set time limit for which a Tru51ee can act. Trustees have generally boon nominated because of involvement in sporting activity organisations, a551sling bodies which help the young or disadvantaged. and their business acumen, theieby engendering an all round perspective and expertise helpful to the Charity. THE CENTRAL SOCIALAND RECREATIONAL TRUST TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Organisation The Board of Trustees, which comprises four members, administers the Charity. The Board meets three time5 a year to review the affairs of the Charily and lo consider granl 2pplicalions which are only paid to a beneficiary upon Ihe approval of the Board. To facililale aclivilies, the Board have delegated certain minor powers lo the Secretary (who is nol a Trusleel, who chiefly deals with correspondence and day to day adminislralive affairs. All decisions relating lo strategy and policy are made by the Board of Trustees. Trustees Induction and Training The Trustees maintain a good working knowledge of charity law and besl practise by attendance al charity courses run by oulside providers. New Trustees are given copies of Ihe Trust Deed and copies of relevant Charity Commission Publications. Rlsk management The Trustees have a risk management slralegy which comprises: an annual review of the risks the Charity may face: the establishment of systems and procedures lo miligale those risks identified in the plan., implemenlalion of procedures designed lo minimise any potential impacl on the Charily should those risks materialise. The review has identified only minor risks primarily relating to investment exposure. Inveslmenl risk is minimised by Ihe maintenance of a balanced portfolio in relatively low risk holdings. A key elemenl in the management of financial risk is the setling of a reserves policy and ils regular review by the Truslees. Related parties The Charity does not have relalionships with related parties and other charities and organlsations with which it co operates in pursuit of ils charitable objectives. statement of Trustees. responslbllltles The Trustees are responsible for preparing the Trustees. Report and the financial statements in a¢¢ordance with applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Practice). The law applicable to tharities in England and Wales requires the Twslees lo prepare financial slalemenls for each financial year which give a true and fair view of the stale of affairs of Ihe Charity and of the incoming resour￿$ and application of resources of the Charity for Ihal year. In preparing these financial stalemenls, Ihe Truslees are required lo.. select suitable accounling policies and then apply them consistently- observe the methods and principles in the ChaTltbes SORP.. make judgemenls and estimates Ihal are reasonable and prudent- slate whether applicable accounting standards have been followed. subjecl to any material departures disclosed and explained in the financial stalemenls.. and prepare the financial slalemenls on the going concern basis unless il is inappropriale lo presume that the charily will continue in operation. The Truslees are responsible for keeping sufficient accounting records that disclose wilh reasonable accuracy at any time Ihe financial position of the Chartty and enable Ihem lo ensure Ihal Ihe financial slalements comply with the Charities Act 2011, Ihe Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Doed. They are also responsible for safeguarding the assels of the Charily and hence for laking reasoiiable sleps for the prevention 2nd detection of fraud and other iiregularities. THE CENTRAL SOCIALAND RECREATIONAL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Truslees are responsible for the maintenance and integrity of the Ch2ri1y and financial information included on the Charitable company's website. Legislation in the United Kingdom governing the preparation and dissémination of financial slalements may differ from legislation in other jurisdictsons. The Trlustee eport was approved by the Board of Tnjstees and signed on its behalf by: W H Robinson Trustee K A WALTERS Trustee 20 May 2025 THE CENTRAL SOCIAL AND RECREATIONAL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CENTRAL SOCIAL AND RECREATIONAL TRUST I report lo the Trustees on my examination of the financial slalements of The Central Social and Recreational Trust (Ihe Charity) for the year ended 31 March 2025. This report is made solely to the Charity's Trustees, as a body, in accordance with the Charities Act 2011. My work has been undertaken so that I mighl slate lo the Charily's Trustees those mallers l am required lo state to them in an independent examiner's report and for no other purpose. To the fullest extent pemiilled by law. I do not accept or assume responsibility to anyone olher than the Charity and the Charilvs Trustees as a body, for my Independenl Examination, for this repori. or lor the opinions I have formed. Responsibilities and basis of report As the Trustees of the Charily you are Te.sponsible for the preparalion of Ihe financial statements in accordance with the requirements of the Charities Act 2011. report in respect of my examination of Ihe Charity's financial slalements carried out under seclion 145 of the Charilies Act 2011. In carrying oul my examination I have followed the directions given by the Charity Commission under section 145(5)(b) of the Chaiities AGI 2011. Independent examinerfs statement Your attention is drawn lo thé fact Ihat the Charily has prepared the financial slalemenls in accordance with the relevant version of the Slalement of Recommended Practice applicable to charilies preparing their financial slatemenls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) in preference to the Accounling and Reporting by Charities- Slalemenl of Recommended Practice issued on 1 April 2005 which is referred lo in Ihe exlanl regulations bul has now been withdrawn. l understand that this has been done in order for the financial slatemenls lo provide a true and fair view in accordance wilh UK Generally AcLepted Accounting Pra¢lice. I have completed my examinalion. I confirm Ihat no mallers have come lo my altenlion in connection with the examinalion giving me cause lo believe th31 in any material respecl.. accounting records were nol kept in respect of the Charily as required by section 130 of the Charili85 Acl 2011. the financial slalemenls do nol accord with those records. or the financial statements do not comply wilh the applicable requirements conceming the form and content of financial slatemenls set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement Ihal tho financial statements give a Irue and fair view. which is not a maller considered as part of an independenl examination. I have no concerns and have come across no other matlers in ￿nneCtIon with Ihe examination to which attention should be drawn in this report in order lo enable a proper understanding of the finan￿al slalements lo be reached. David Terry FGA Ramon Lee Ltd Chartered Accountants 93 Tabernacle Street London EC2A 4BA 20 May 2025 THE CENTRAL SOCIALAND RECREATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted fund5 Total 2025 Total 2024 Notes Income from: Investments 32,527 32,527 30,912 Total Inrome 32,527 32.527 30,912 Expenditure on: Raising funds Charitable activities 6.777 63,891 6,777 63,891 6,328 51,506 Total expenditura 70.668 70,668 57,834 Net incomellexpendlturel and net movement in funds before gains and losses on investments (38,141) (38.141) (26,922) Nel gainsl{losses) on investments 10 17,526 17,526 104,392 Net incomal(expenditure) and movement in funds (20,615) {20,615) 77.470 Reconclllation of funds: Fund balances at 1 April 2024 1,222,236 1,222,236 1,144,766 Fund balances at 31 March 2025 1.201,621 1,201,621 1,222,236 CONTINUING OPERATIONS None of the Charity's activities were acquired or disconlinued during the above Iwo financial years. TOTAL RECOGNISED GAINS AND LOSSES The Charity has no recognised gains or losses other than Ihe above movements in lunds during the above Iwo rinancial years. The notes on pages 8 10 17 form part of these financial statements. THE CENTRAL SOCIALAND RECREATIONAL TRUST BALANCE SHEET AS AT31 MARCH 2025 202S 2024 Notes Fixed assets Inve51menls 12 1.180,397 1,184.195 Current assets Cash at bank and in hand 26,024 43,601 Creditors: amounts falllng due v4ithin one year 13 {4,800) (5.560) Net current assets 21,224 38,041 Total asset9 less current liabililies 1,201,621 1,222,236 The funds of the Charlty Unreslricted funds 14 1,201.621 1,222,236 1,201,621 1,222,236 The notes on pages 8 to 17 form part of these financial statements. Th ancial,81alements were approved by the Trustees on 20 May 2025 and are signed on ils behalf by.. // so K A WALTERS Trustee Trustee THE CENTRAL SOCIALAND RECREATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies 1.1 Accounting convention The financial statements have been prepared in acwrdance wilh the Charity's TrLSSt Deed, the Charities Act 2011, FRS 102 'The Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland" and the Charities SORP "Accounling and Reporling by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financtal Reporling Standard applicable in the UK and Republic of Ireland (FRS 102)" The Charity is a Public Benefil Entity as defined by FRS 102. The financial slatemenls have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a true and fair view. This departure has involved following Ihe Slalemenl of Recommended Pr