STO8SWOOD MINERS, WELFARE RECREATION CENTRE REGISTERED CHARITY NO: 522143 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STOBSWOOD MINERS, WELFARE RECREATION CENTRE ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 INDEX CONTENTS PAGE Lègal and Admininslralive Details Trustees, Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Finanaal Statements STOBSWOOD MINERS, WELFARE RECREATION CENTRE CHARITY REGISTRATION NO: 522143 LEGAL AND ADMINISTRATIVE DETAILS TRUSTEES: I Walson K Batson S Townsley J C Wiggett S Douglas S Pringle (Resigned August 2023) J Stewart P Mcpherson D King SCHEME ADDRESS: Stobswood Morpelh NE615QA INDEPENDENT EXAMINER: J Wallage FCA CISWO (Trading) Limited The Old Rectory Rectory Drive Whislon Rotherham S60 4JG STOBSWOOD MINERS, WELFARE RECREATION CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report along with the financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts which can be found on page 7. Constitution and Objects The charity is governed by a scheme dated 19 November 2004. and is registered as a Charity on 2 December 1963 under the number 522143. Ils objective is the provision of a recreation and welfare centre for the benefits and inhabitants (and in particular but not exclusively, such of the said inhabitants are members of the mining comrnunity) of the area of benefit wilhoul distinction of political, religious or other opinions with the object of improving the conditions of life for the said inhabilanls. The Iruslees have referred lo Ihe guidance given by the Charity Commission on public benefit when reviewing the charity's aims and objectives and details of the activities thal have taken place during the year can be found later in this report. Oryanlsational Structure The trustees who have served the charity during the year are shown on page 1. The charity is responsible for maintaining the premises and grounds in a suitable stale of repair for use by those who live in the surrounding area. 11 raises income through various charitable activities, grant income and investment income. In addition to this, the connected trading company, Slobswood Miners, Welfare Recreation Centre Social Club Limited. pays an annual Occupational Licence Fee to the charity in addition lo gift-aiding its taxable profits to the Charity for ¢haritable usage. Trustee vacancies are advertised and interested parties are asked to apply in writing. Interviews will be held and suitable candidates are then notified to their nominating body being either CISWO, trade union or members. Financial Review The charity had net incoming resources of £1,261 {2023 net outgoing resources £18,929). This improvement is mainly due lo a decrease in repair costs. The balance sheet remains very healthy with total nel assets of £117.364. Review of Activities and Public Benefits The trustees have referred to the guidan￿ given by the Charity Commission on Public Benefrt when rewewing the aims and objectives and resulting activities are outlined below. The trustees wish to note the sad passing of former ¢hairman. Mr Edward Conroy. Eddie was chairman for many years and continued to support the trustees with advice and guidance after his retirement from the committee. He will be sadly missed by the trustees. all his family, friends and members alike. During the year we have been represented by the following sports teams.. Indoor 2 Domino teams, 2 Pool teams, 1 super league darts team. 2 men's dart5 teams on Fridays. Outdoors 2 Saturday Cricket teams. 1 midweek cricket team, 2 senior football teams, various ages junior football teams. We try to secure grant funding to update and maintain both interior and exterior facilities. Special thanks go lo David King, who has worked hard lo secure funding for the gents toilet refurbishment and some emergen¢y drainage work. Plans are in place lo refurbish the ladies and accessible toilets and to seek funding to improve further areas of field drainage. The trustees would like lo note that they have never seen the Welfare looking so good, many compliments have been passed on by opposing teams and general members of the public. We currently hire out our mobile bar, and thanks to those who help lo Iransport it. STOBSWOOD MINERS. WELFARE RECREATION CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 CONTINUED Review of Activities Icontlnuedl The trustees would like lo thank all our staff and committee for their continuous hard work and determination in striving to keep the welfare going. Special thank5 once again to Fiona and Kevin, we are really lucky lo have them both involved. The hard work Fiona puls in cannot be underestimated. In closing our biggest thanks go lo the members for their conlinued support and the volunteers who work behind the scenes. It's great lo have extra hands willing to help out when needed. Investment Policy The trust deed aulhorises the Trustees lo make and hold investments using the general funds of the charity. Investments are managed by an investment company who report regularly lo the Trustees. Reserves Policy It is the policy of the trustees to maintain unrestricted funds which are the free reserves of the charity, al a level to provide sufficient funds lo cover anticipated administration and support costs for a period of 12 months. Risk Management The Iruslees are aware of the operational and financial risks which the charity faces and regularly reviews those risks to mitigate against any impact thèy may have on the charity. The major risks facing the charity are Ihe continued success of the social club from which it derives its main funding. the support of individuals and the community in using the facililies and the introduction of Ihe younger generation lo provide for the future. The Trustees work closely with the directors, committee and members to address these risks. ststement of Trustees, Responsibilities Law applicable to charities in England and Wales required the Trustees lo prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charily for that period. In preparing those financial statements. the trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent.. state whether applicable accounting stsndards have been followed subject to any material departures disclosed and explained in the financial stalements., prepare the financial statemenls on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy al any time Ihe financial position of Ihe charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for laking reasonable steps for the prevention of fraud and other irregularities. The Trustees are carefully managing the Gharity's finances and are satisfied that it will be able to continue to meet its obligations for Ihe foreseeable future. Signed- Trustee Print Name- Trustee Date.. INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STOBSWOOD MINERS, WELFARE RECREATION CENTRE I report to the Trustees on my examination of the accounts of the above named charity (registered no. 522143) for the year ended 31 March 2024, set out on pages 5 to 9. Res onsibilities and basis of re ort As the Charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Acti. I report in respect of my examination of The Trustees, accounts carried out under section 145 of the 2011 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 2011 Act. Inde endent Examiners 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 (21 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 quirement 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. J Wallage FCA On behalf of CISWO (Trading) Ltd The Old Rectory Rectory Drive Whiston Rotherham S60 4JG Date STOBSWOOD MINERS, WELFARE RECREATION CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unres- tricted Funds Endow- Res- tricted Funds Desi nated Funds ment Funds 2024 Total 2023 Total Note Income and Endowments Investment in¢ome Grants Sundry Charitable activities Donations Oc¢upalional licence Gift aid Sections movements 1,576 1,576 20,149 1,278 24,288 223 872 90 3,600 2.934 133 20.149 1,138 1,138 3,600 1,971 3,600 1,971 8,700 8.700 Total Incoming Resources 8,285 20,149 8,700 37,134 33,418 enditure Direct Charitable Ex enditure Repairs and maintenance Machine running cosls Rates and water Insurance Donations Sundry expenses Bad debt Depreciation 15,678 1,417 1.940 2,862 230 150 5,429 21.107 1,417 1,940 2,862 230 150 32,198 967 1,146 2,601 967 150 485 10.466 10,502 10,502 32,779 5,429 38.208 48,980 Administration Accountancy Officials expenses 682 900 682 900 656 900 her ex endi ure Sections movements Total expendlture 34,361 5.429 39.790 50,536 Gains l (Losses) on investment assets 3,917 3,917 (1,811) NET MOVEMENT OF RESOURCES {22,1591 14,720 8,700 1,261 118,929) Balance broughl forward at 1 April 2023 93.377 19,022 3,704 116,103 135,032 Transfers betsveen funds 19.022 {19,022) Balance carried forward at 31 March 2024 90,240 14,720 12,404 117,364 116,103 STOBSWOOD MINERS, WELFARE RECREATION CENTRE BALANCE SHEET AS AT 31 MARCH 2024 Notes 2024 2023 Flxed Assets Tangible assets Investments 24.169 44,870 29,641 40,953 Current Assets Debtors and prepaid expenses Cash al bank and in hand Balances held by sections 4.008 34.480 12,404 5.283 37,178 3,704 50,892 46.165 Less: Currant Liabilities Creditors falling due wthin one year 12,567) {6561 Net Current Assets 48.325 45,509 TOTAL NET ASSETS 117,364 116.103 resented b Endowment Funds Unrestricted Fund Restricted Fund Designated funds - Sections 19.022 93.377 90,240 14,720 12,41J4 3.704 117.364 118,103 The financial slate ents were approved by the trustees and signed on their behalf by.. Signed - Trustee Print Name - Trustee 1,3.10 Date STOBSWOOD MINERS, WELFARE RECREATION CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES al Basis of preparation and assessment of going concern The financial slalements have been prepared under the historical cost convention unless olherwsse staled in the relevant notes to these accounts. The financial statements have been prepared in in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities {FRS1021 and the Financial reporting Standard (FRS1021 and the Charities Act 2011. The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. The trustees have a reasonable expectation the Trust has adequate resetves to continue in operational existence for the foreseeable future. Accordingly, the trustees continue to adopt the going concern basis in the preparation of the attounts. b) Income Recognltlon Income is recognised once the charity has entitlement to the income, it is probable that the income 11 be re￿iVed and the amount of income receivable can be measured reliably. ¢) Expendlture Recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it is probable that settlement wll be required and the amount of the obligation can be measured reliably. Ail expenditure is accounted for on an accruals basis. Grants are recognised when they are approved and the intention has been communicated lo the recipient. dl Depreclatlon Depreciation is provided lo write off the cost or valuation less estimated residual of fixed assets over their expected useful lives. Land and buildings Buildings alleralions Furniture. fittings and equipment 10% straight line basis 1 Oyo straight line basis 209A straight line basis 2. GRANTS RECEIVED Revenue grants are recognised in the Statement of Financial Activities on a received basis and are matched with the expenditure towards whith they are intended to contribute. During the year £9,690 has been received from the Community Foundation for relurbishment of the gents WC. This remains unspent at the year end and the expenditure wll fall in lo next year. The sections have received grants for dug outs £5.359 and for cncket covers £5,100. The cricket covers wll be capilalised and depreciated over five years. STOBSWOOD MINERS. WELFARE RECREATION CENTRE NOTES TO THE FINANCIAL STATEMENTS Continued FOR THE YEAR ENDED 31 MARCH 2024 Furniture Land and Fittin sand Bulldin Bulldin s ￿￿ment Alteratlons Total 3. TANGIBLE FIXED ASSETS Cost At 1 April 2023 Additions 70,169 46,183 5,030 76,089 192,441 5,030 At 31 March 2024 70.169 51,213 76.089 197,471 reciation At 1 April 2023 Charge for the year 65,377 1.233 21.334 9,269 76,089 162.800 10,502 At 31 March 2024 66.610 30,603 76.089 173,302 Net Book Value At 31 March 2024 3,559 20,610 24,169 Al 31 March 2023 4,792 24.849 29.641 2024 2023 4. FIXED ASSETS INVESTMENTS Charlties Official Investment Fund - COIF 44.870 40,953 2024 2023 5. DEBTORS AND PREPAID EXPENSES Prepayments VAT Amount owed by Stobswood Miners, Welfare Recrealion Cenlre Social Club Ltd 2,037 1.843 506 1,971 2,934 4.008 5,283 STOBSWOOD MINERS. WELFARE RECREATION CENTRE NOTES TO THE FINANCIAL STATEMENTS Continued FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 6. CREDITORS FALLING DUE WITHIN ONE YEAR Trade creditors VAT Accruals 363 1,522 682 656 2,567 656 Brou ht Movement Forward In Year Carried Fotward 7. BALANCES HELD BY SECTIONS Cricket Club Stobswood Welfare AFC 3.051 653 7,109 1,591 10,160 2,244 3,704 8.700 12.404 8. TRANSFER BETWEEN FUNDS Historically depreciation on restricted assets has been Charged as unrestricted assets. These assets are now fully depreciated therefore this transfer between funds now recognises the fact.