Cvro. CALVERTON MINERS, WELFARE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REGISTERED CHARITY NUMBER 52226511
CALVERTON MINERS. WELFARE TRUST INDEXTO THE FINANCIAL STATEMENTS PAG Legal and Administrative Details Report of the Independent Examinerfs Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6-14 Activty Group Accounts 15-19 Report of the Trustees 20
CALVERTON MINERS, WELFARE TRUST LEGAL AND ADMINSTRATIVE DETAILS The Calverton Miners, Welfare Trust is registered with the Charity Commission (Registration number 522265111 Address of Charity Hollinwoocl Lane Calverton Nottingham NG14 6NR SecretarylTreasurer', Mrs V Corcoran Chairman.. D Wilson Trustees,. P Mapplebeck J SwinsGoe L E Renshaw L Weetman A Kirkham Bankers,, The Co-operative Bank PIC Olympic House 6 Olympic Court Montford Street Salford M5 2QP Independent Examiner,, J M Ellis ACMA Brickhouse 7 Barnsley Road Ackworth Ponlefract West Yorks WF7 7BS
REPORT OF HEI DE ENDENT EXAMINER TO HE CALVERTON MINERS, WELFARE TRUST RUSTEES OF I report On the fin8nclal sialements of thè charlty for the year ended 31 Dec&mb8r 2023 whlch are set out on pages 3 ID 13. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER Ths Gharity's Irusle88 are responsible for the preparation of tha gccounts. The charills Iruslees Gonslder that an audit Is not requlred lor thls yèar under secllon 144 01 the Charities Act 2011 Ithe Chari1185 Acll and that an Independent examination Is needed. 11 Is my ra8ponsiblllly lo: exarnlne the accounts under section 145 of the Charllies Act., lo follow the procadures laid down In the ooneral Dlrecllons glven ljy the Charity Commission (under sedion 14515llbl of the Charities Actl., and lo slate whether p8rtlcular matters have coma lo my allenllon. BASIS EPENDENT INER, STATEMENT My examlnallon was carrled out in accordan with gen8fdl Dir&conS glven by the Chartly CDmmi85ion. An examlnalion INclud&$ a revlew of the accounting reGoids kept by the charity and 3 comparlson of the accounls presented wlth those 1ooord5. It also includ68 conslderation of any unu8ual iletns or disclosures in the accounts, and seeking explanallons from the Iruslees concerning any such matters. The procedures undertaken do not prDvid8 811 lh8 avidence Ihal wDuld be requlred in an oudil, 2nd consequently no C>pinlDn Is given as to whether the accounis presenl a 'Xru8 and falr" view aNd the report Is Ilmited Ic) those mall8rs sèl out In th8 slalamenl below. NDEPENDENT EXAMINER'S STATEMENT In connection wlth my examination, no matter has corne lo tny atlenlipn. 111 which givès mè reasonable c8use lo believe that in, any material respect, the requlrèments.. to keep accounllng rerdS in aGcoidance with sectionl 30 ol th8 Charilles Act.. lo piepare accounts which accord the accounllng records and Comply with the accounting requlrements of the Gharilies Act have not been w81,. or 121 ID which, In my oplnion, atlention should be drawn in order lo ènable a prDper under818ndlng of the aG¢ounts to be reachèd. J M EIIi5 ACMA Brfckhouse 7 Barnsley Road Ackworth Ponlefract West York8 VVF7 78S Date
CALVERTON MINERS. WELFARE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Desi nat8d Unrestricted Total Funds Funds 2023 Total 2022 Notes INCOMING RESOURCES Voluntary Income.. Subscription" Associata Members Grants & Donations Gift Aid Calverton Miners Welfare SC Ltd 3G Pitch Project Activities for generating funds: Occupational Lic8nce Incomlng Resources from Charltable Actlvltles Activily Groups., Surplus Room HirelRenl 5-ald8 & Pitch Hir8lGround R8nt Covid 19 Support Grants Insurance Claim- VVat8r Laak 1,502 7,424 7,718 1,502 30,193 7,718 14,721 1,493 40,450 4,431 8&9 22,769 15 14,721 12,610 12.610 11,890 10,S80 10,980 15,907 28,739 2,828 14,087 30,783 4,000 1,591 15,907 28,739 TOTAL INCOMING RESOURCES 48,470 73,900 122,370 111,553 RESOURCES EXPENDED Charitable Expenditure: Activity Groups.- Deficit GntS and Donations Direct Fundraising Costs 3G Pitch Project Light and H&at Rent, Rates and Water Insurance Telephone Rep8irs and Renewals- Buildings Repairs and Renewals - Grounds Postage and StaticnerylAdverts Bank Ch8rgesllnterest Payable Wages and National Insurance General Expenses (includes Courses) Irrecoverable VAT D8preciation Governance Costs: Audit and Accountancy Professional Fees 20 478 20 478 3,680 1 $,931 4,674 5,064 1,230 7,005 15,333 161 830 21.121 43 6.576 35.108 758 133 15 3.680 16.931 4,674 5,064 1,230 7,005 15,333 161 830 21,121 43 6,576 2,660 16,263 6,483 5,591 1,082 11,388 11,217 85 174 14,947 13601 3.389 35,359 3a 32,448 12 2,673 105 2,673 105 2,750 324 TOTAL RESOURCES EXPENDED 36,128 84,904 121,032 109.583 NET RESOURCES EXPENDED BEFORE TRANSFERS 12,342 {11.004) 1,338 1,970 Tho notes fomi part of these financial statements
CALVERTON MINERS. WELFARE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 CONTINUED Desl nated Unrestrlcted Funds Funds Total 2023 Total 2022 Notes NET RESOURCES EXPENDED BEFORE TRANSFERS 12,342 (11,004) 1,338 1,970 Transfers b8tW88n Funds NET RESOURCES EXPENDED FOR THE YEAR 12,342 {11,004} 1,338 1,970 Gainsl(Losses) on Sale of Assets.. NEf MOVEMENT IN FUNDS 12.342 (11,004) 1,338 1,970 Fund BalanS Brought Forward at 1 January 2023 120.258 137,548 257,806 255,836 FUND BALANCES CARRIED FORWARD AT 31 DECEMBER 2023 132,600 126,544 259.144 257,806 The notes form part of these financlal statements
CALVERTON MINERS, WELFARE TRUST BALANCE SHEET AS AT 31 DECEMBER 2023 NOTES 2023 2022 FIXED ASSETS- Tangible Assets 211,655 246,363 211,655 246,363 CURRENT ASSETS: Debtors Cash at Bank and In Hand Activity Group Account Balances 570 3.953 22,681 819 1,280 9,146 27,204 11,245 CREDITORS: Amounts falling due within one year 30.112 31.276 NET CURRENT LIABILITIES (2.908) (20,031 TOTAL ASSETS LESS CURRENT LIABILITIES 208.747 226.332 CREDITORS: Amounts falling due after more than one year 31,350) 34,416) NET ASSETS 177.397 191,916 INCOME FUNDS DESIGNATED FUNDS Designated Funds - P & L Designated Funds - Deferred Grants 132,600 81,747 120,258 65,890) 1&8 50,853 126,544 54,368 137,548 Unrestricted Funds 177.397 191.916 Approved by lh8 Board of Trustees on .............. ands ed on its behalf by.. Trustee The notes fomi part of these financial statements
CALVERTON MINERS, WELFARE TRUST NOTES TO THE ACC NTS FOR TAE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING P LICIES Accountln Conventlon The account8 have been prepared under the hi81oric cost convgntion with the exception that Investments are valued at market value, The 8ccounls are prepared in accordance with applicable accounting 81andards, the Charltles SORP120051 (Accounting and Reporting by Charities) and comply with the Gharilies Act 2011. Tan Ible Fixod Assets - Unr88tricted Depreciation is provided at the following annual rates In order to write off each asset over its esllmated useful life. Club Buildings Other Assets 00/0 on cost 1 OUA on reducing balance Tan iblè Flxed As8ets . Desi nate Funds Depreciation is provided at the followlng annual rates in order to write off each assel over ils Èsllmated useful life. Club Buildings other Assets 5 /0 on cost 1 Oyo on Gost Dèferred Income Grants form the Major Funders Inote 101 ar8 recognised in the Statement of Financial Activities over the expected life of designated fund ass91s. Major grant income is deferredlulilised over the anticipated life of designated projects. Thé Trustee8 are ol the opinion that the antlcipaled life of the current major project i¥ 20 years and income from th$ Project will b8 Utilised in the Statement of Financial Activities over this period. eneral Income Occupational Licence income is included in the Statement of Flnancial Aolivities as it falls due. All other general income is re¢ognised on reipt. Invostment Income Investment Income Is included in the Statement of Financial Activi11gs as receivable.
CALVERTON MINERS. WELFARE TRUST NOTES TO THE ACCOUNTS FOR T E YEAR ENDED 31 DECEMBER 2023 2023 2022 ACTIVITY GROUPS.. SURPLUSI DEFICI Surplus Balances.. Top Club Fund Calv8rton Thè8tr& Group Ladl&s Darts Calvarton Miners Welfaré Memorial Fund Colts Football Club 118 618 805 10,244 2,555 10,980 3,160 Less: Deficit Balances Calverton Theatre Group 332 332 SURPLUS DEFICIT STATEMENT OF FINANCIAL ACTIVI IE 10,980 2,828
CALVERTON MINERS, WELFARE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2 23 3. TANGIBLE FIXED ASSETS CLUB AND RECREATION CENTRE Desl nated Unrestrfc nated Land and Flxtures & ixturos & Bulldln ui men Unre trlcte Land and Buildin Cost As at 1 January 2023 Addilions Disposals 598,150 592,022 193,7e4 400 97,050 1,480,986 400 14 As 31 December 2023 598,150 592,022 194,164 97,050 1,481,386 Accumulated De reciatlon As al 1 January 2023 Provided for year Dispo3als 441,000 546,086 29,601 167,583 2,660 79,974 1,234.823 2,847 35,108 at 31 December 2023 441,000 575,688 170,223 82,821 1,269,731 Net Book Value8 31 Dernber 2023 157,150 16,334 23,941 14,229 211,655 31 December 2022 157,150 45,936 26,201 17,076 246,363 The Buildings are valued at historical cost and are depreciated over a 20 year period {being the estimate of the expected economic lif8 of the Buildings). However the Land on which the Club Buildings stand is held under a Lease with the freeholder being the Coal Industry Social Welfare Organisalion. The curent Lease which 18 Wlth the Charity expires in 2122. The lease contains no power to assign, sublet, part Dr share the premises and as such the effective value of the Institute Buildings would be reduced to zero in the event of any winding up of the Charity. In view of the above, the unre8triGted land and buildings are no longer depreciated as the eflective value of those assets is nil in the evenl of any winding up of the Charlty. This policy took effect from 1 January 2022. 3a. IRRECOVERABLE VAT AND THE OPTION TO TAX Prior to l October 2023 the charity was subject to th& de-minimus rules in respect of VAT, As a result, there wa5 an element ofVAT that could not be recovered on certain purchases made by the charity. On fj October 2023 the charity elected to Opt lo tax for VAT in respect of ivs supplies of land. This enables the charity to reclaim VAT on ils purchases relating to the supply of land on its premise8. In tho current year irrecovorable vat has been 8ccountèd for in the SOFA prior to the option to tax for VAT being granted by HMRC.
CALVERT N MINERS. WELFARE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 DEBTORS 2023 2022 Tradelsundry Debtors Prepaym8nls Taxation and Social Securlty 280 539 570 570 819 CASH AT BANK AND IN HAND 2023 2022 Cash at Bank Deposit Account Current Account Cash in Hand Facilities Manager 3,005 948 282 998 3,953 1,280 ACTIVITY GROUP ACCOUNT BALANCES 2023 2022 Colts Foolball Club Calverton The8tre Group Calverton Miners Welfare Memorial Fund Calverton MW Ladie5 Darts Top Club Fund 16,080 4,554 1,079 3,281 3,936 1,079 968 850 22,681 9,146
CALVERTON MINERS, WELFARE TRUST NOTES TO THE ACCOUNTS FOR THE YEA ENDED 31 DECEMBER 2023 CREDITORS 2023 2022 Amounts fallin due wlth one ear: Trade CreditorslAccruals Taxation and Social Security Cash at Bank and in Hand Calverton Miners, Welfare Social Club Ltd Loan Account 21,556 4,018 23,078 1,552 4,538 6,648 30,112 31,276 Amounts fallin due aft8r one ear: Carlsberg Marstons- Loan re Developmentlsigns 31,350 34,415 $1,462 65,692
CALVERTON MINERS. WELFARE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 DESIGNATED FUNDS The inGomè fund5 of tha charity in¢ludÈ lh& followlng designated fund8 uvhlch have be8n set aside out of unreslricled funds by the Trusleeslsub SlI0n Committees for specific purposgs or grènl6d by major funding bodies.During th8 y&ar th8 major project to develop th8 football fieldslchanging rooms ttontinued as th8 concept of the Gonslruclion of a 3G pitch became a reality and fundr8islng has bègun to ach16V8 thi8 aim. is very grateful to all the bod168 who hav8 granted fund5 to achi8V8 the upgrad8 of th8 Scheme's facilities. alance asat olan.23 Ca ut1118edl Realised Revenue Balanc Utilisedl a8at Real'sed 31-Déc-23 New Grants S¢h•m• Contrlb Ground Improvemonts Football Foundatlon Coalfields Regeneration Trust Noltingham Communty Fund Football Stadia Improvement Fund WREN Releasa of Funds Clyr sUlus Scheme Contribution - Capital WREN - Play Ar8a and Seating 9,136 1,000 so 1,552 890 5,588 815 16,825 19,136) 11,000) (501 18491 1890) 703 10,371 15,9Sg 1815> 12,804) 14,021 others Sub S&ction8 Surplu8lDeficit Wolvsrhampton & Dudlèy {Loan} Colts Football Club (5 year plan) 9,146 18.019 2,869 13,535 22,681 14.953 2,390 {3,06ei {47g) 3G Pitch- Fundraising - see Note15 14,721 {3,68D) 11,041 65,889 28,256 {22.769) 10,371 81,747 DESIGNATED FUND ANALYSIS: Daforrad Incom8- Major Gran18 General Designated Purposes {81,747} 132,600 50,853 Major grant income 18 deferredlutilised over the anticipated life of tha projact. The Trust8es are of the opinion that th8 anlicipat8d life of the buildings 18 20 years. The income will be relgasod ov8r th8 anticipatad lif& of the project. UNRESTRICTED FUNDS The unrestricted funds include granfis received in previous yoars from the Coal Industry Social W81fare Organisation, Godling Borough Council and Notlinghamshir6 County Council and St Wilfrids Church, Calvarton tolalling £166,566. During the y9ar Ihs Tnjst r&c@ived a grant from the Football Foundailon from the Pitch Mainten8nc8 Fund of £7,424. Th& grnnt is part of a 5 year initiative from the Fo)tball Found8tlDn and the payment r&lat8d to Year 2 of the plan. 10. TRUSTEES REMUNERATION Tha truste&s recèived no r8imbur88m8nl of expenditure or remunerallon during thè yèar, aFther directly or indirectly (2022 nil). 11. STAF COST8 2023 2022 Wagas and Social S9curity Costs 21,121 14,g47 Average Numb8rof Full Time Employees
CALVERTON MINERS, WELFARE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 202 12. CCOUNTANCY COSTS 2023 2022 Accountancy Services - J M Ellis 2,673 2,750 2,873 2,750 13. ACTIVITY GROUP ACCOUNT PREPARATION Accounts submitted by the following activity groups of Calverton Miners, Welfare Trust are included in the accounts to enable a holistic view of the charitable activities taking place at the Scheme bul are independently examined by the charity's accountants. The cash balances held by the sub sections are included in the balance sheet for same purpose. The current sub sections of the charity are as follows.. Colts Football Club Calverton Theatre Group Calverton Miners Welfare Memorial Fund Calverton MW Ladies Darts Top Club Fund During 2020 and 2021 the Coivid19 pandemic seriously curtailed the activities of the charity's sub-sections. The majority of sub-sections were unable to operate during the pandemic and accounls have not been submitted in 2020 or 2021, In 2022123 the sub-sections began to relurn lo normal operations and their accounts reflect this. 12
CALVERTON MINERS. WELFARE ST NOTES TO THE ACCOUNTS R THE YEAR ENDED 1 DECEMBER 2023 FIXED ASSETS . ADDITIONS BUILDINGSIE UIPMENT 14. Fixtures and E ment - Unrestriotod.. floor buffer brush cutter - xmas tree & decorations 157 112 131 400 400 FIXED ASSETS . DISPOSALS BUILDINGSIEQUIPMENT NIL 13
CALVERTON MINERS WELFARE TRUST OTE TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. CALVERTON 3G PITCH PROJECT 023 2022 Income Calvèrton Colts: Walk to Wernbley Gift Aid Reclaim Walk to Wembley Colts Tournament 4,036 627 3,315 Arnold Eagles.. fundraising presentation day 6,700 Bank Interest 43 Total Incom 14,721 Expenditure Hopkins Solicitors: formally register freehold on land for 3G pitch site 2,030 Salary Costs.. bid writing and co-ordination with relevant partners 1,650 Total Expenditure 3,680 Surplus 11,041 Cumulatlve Balance as at 31 December 2023. Opening Balance at 1 January 2023 Add.. Income 14,721 13,680) Less.. Expenditure Closlng Balanco at 31 Dgcember 2023 11,041 14
CALVERTON MINERS WELFARE TRUST COLTS FOOTBALL CLUB INCOME AND EXPENDITURE ACCOUNT FOR YEAR ENDED 31 DECEMBER 2023 INCOME 2023 2022 SubscriptionslFlneslSign on Fees Tournament Bank Interest DonationslGrants & Sponsorshlp Vets Klt Fundraising Other Income 30,707 2,505 29,937 4.167 1,000 6,e25 124 400 18,185 56,564 37,088 EXPENDITUR Hire of Pitches Kil & Equipment League Fe8s, Fines & Referees Social Ev&nlstFood Banners, Adverts, App & Website U9's Asda Insurance Trophies & Awards Training - Level 1 Treasurers Expenses Donallon lo Main Scheme 3G Pltch DBS checks General Expenses 22,4S2 9,956 5,147 1,959 66 16,760 7,943 3,711 1,173 626 429 1,639 955 480 1,781 330 300 3,619 213 604 520 46,320 34,533 Surplusl{Deficltl Carrled fOard lo general Stalement of Flnancial Actiti 10,244 2,555
CALVERTON MINERS WELFARE TRUS THEATRE GROUP INCOME AND EXPENDITURE ACCOUNT FOR YEAR ENDED 31 DECEMBER 2023 2023 2022 INCOME . PLAYS Ticket Sales - Pantos/Plays 561 ADDITIONAL INCOME Charity Shop RaffleslRefreshment sale5 Donation- COFiE (Fashion Show) Grant - Local Councillors Grant - Parish Council 602 348 207 300 450 1,907 2,468 EXPENDITURE Hire of Vlllage H811 etc- PlaylPanlo Room Hire - Rehearsals Costumes & HlrelProps other Costs Plays Storage & Slorage Boxes Printing - Posters & Tickets Insurance 1,211 60 72 12 77 100 162 156 20 37 119 156 1,850 332 SuplusllDeflcitl carried forward to general Statement of Flnancial Activitie5 618 1332 16
CALVERTON MINERS, WELFARE RUST LADIES DARTS INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 2022 INCOME Subscrlptionslsavings Raffle 372 491 33 98 863 131 EXPENDITURE Competition Fees Misoellaneous - distributed 26 883 105 863 131 Surplusl{Deflclt) carried fOard to general Statement of Financial Activities 17
CALVE TON MINERS, WELFARE TRUST CALVERTON MINERS WELFARE MEMORI L FUND COME AND EXPENDITURE ACCOUNT FOR YEAR ENDED 31 DECEMBER 2023 2023 022 INCOME Bank Interest EXPENDITURE Non6 in Year Surplusl(Deficit) carrled fomard to general Statement of Financial Activltles No Movement in 2023 Year Monies held for Future Repairs
CALVERTON MINERS WELFARE TRUST TOP CLUB INCOME AND EXPENDITURE ACCOUNT FOR YEAR ENDED 1 DECEMBER 2023 2023 2022 INCOME Bonfire Night - Fairground and wristbands (nell Fundraising miscellaneous Xmas Raffle 738 200 1,980 20 938 2,OOD EXPENDITUR Bonfire Night - Fireworks Bonfire Night- Misc Expense Bonfire Night - Cash Prize Miscellaneous Expenses Six Chairs for Club Five Folding Tables for Club Jukebox Hedge Cutting Flat Fundraising Stickies S60 9D 100 245 60 40 120 380 200 20 820 1,395 SurplusllDeficit} carried fomard to general Statement of Financial Activities 118 60S 19
CALVERTON MINERS WELFARE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 DECEMBER 2023 l. The Trust¢¢s present their report along with the financial statements of the charity for the year ended 31 December 2023. The fmancial statements have been prepared in accordance with the accounting polickes set out on page 6 and comply with th¢ Charity's Trust Deed and applicable law. 2. Constltutlon and Ob'ects The Charity Calverton Miners Welfare Trust, at Calverton in the County of Nottinghamshire, regulated by a Schen]e of the Charity Cornrnissioners made on 13 July 1983. and in the matter of the Coal Industy Act 1987. and in the matter of the Charities Act 1960. Registered Charity number 52226511. l ) The object of the charity is the provision of & welfare institute for the benefit of the inhabitants (and but not exclusively, such of the said inhabitallts as are membern of thc milling community) of th¢ area of benefit without distinction of political, religioiis, or other opinions with th¢ obj Gct of irnproving the conditions of lif¢ for the said inhabitants. 2) The land to this scheine must be retained by the Trustees for the use of th¢ir charity. 3) In so far as the land and buildings to this schcnic, or othcr asscts of the charity, are not required for the said object in (l) above then provided that the trustees shall hav¢ consulted and obtained th¢ acernent of the trnstees of CISWO in advance, the Trustees rnay use the cbarity's land and other assets for such other purposes as are exclusively charitable at law for thc dircct benefit of the inhabitants of the area of benefit. tn setting our obj ectives and planning our activities the Trustees have considered the Charity Coinn]ission's general guidanc¢ on public b¢n¢fit and in particular to its impact on the beneficieS of the Charity. 3. Or anisation The Trustees who have served duiing tbe year are detailed below: . Mr D Wilson Mrs J Swinscoe Mr P Mapplebeck Ms L Renshaw Mrs A Kirkham Mrs L Weetman 20
The Secretary to the Trustees, responsible for the day-to-day administration of the charity is Mrs V A Corcoran, Calvcrton Miners Welfare, Hollinwood Lane, Calvert0 Notts NG14 6NR. 4. Review of the Develo men Activities and Achievements of the Chari The Social Club has recorded a profit and £7,718 in Gift Aid receiv¢d for the Trust, The Occupational Lic¢nce Fee increased as per Trustees Instrnctions 2021. The refurbishment of the Club, coinpleted by Volunteers, bas helped create a modern environment for members and bookings for the Pitch Inn continue to increase. The retention of volunteers is increasingly importallt, the current Board of TrLteeS have all got experience in their Trusteeship's but new faces and skills would b¢ welcome. The 3 G Proj ect is progressing well. Coirmunity Engagement continues to be a priority ensuring we me¢t th¢ ne¢ds of the cornmunity with the 3G project. Cornmunication continues with GBC to seek fimding and the long awaited Playing Fields Strategy is imminent and will play a crucial role in any decision Tcgarding fjjnding GBC will make. Both Calvcrton Colts and Arnold Eagles continiie to support the project and are working together to fiJn(Iraise. Both Clubs will have priority ratcs post the 3G build in acknowledgement of their support and fvndraising activities. CISWO havc bcen infornied of the Clwity's intentions and will be required to sign off the project. Thc Administration of the Charity continue to ensure Incorne is higher than EXpend1tLe, given the increase in utilities this is proving increasingly difficult, however, the accounts show there is progrcss. The Pitch Power Fund, froin the Football Foundation, continues to support esscntial maintenance to the existing pitches, which arc ovcrplayed due to high demand. An Expression of Interest has also been made to the Football Foundation for the Energy Support Programrne designed to malce Clubs like ours become energy efficient. It has never been more crucial for this club to be fin2mcially and environmentally stable. Qualifying Clubs will be able to apply for ftmding up to £25,000. No further update on this at the end of 2023. An application to Howden's to upgrade the Icitchen is in progress. 20
Sub Section Re orts: Colts F.C. The Colts, led by David Lee, Chaiman have developed 2 extra Inclusive teams, following David's achievement as the County Grassroots winner - Inclusive Coach of the ycar, demand for Inclusive football has increased. Fun(traising activity plans have been put into place for 2024 in an attempt to raise £20,000. Tim Richardsofy Team manager successfillly cycled from John O, Groats to Lands End raising almost £5k. The annual Colts football tournarnent in Junc 2023 raised funds for the Football Club and was enjoyed by all. As part of th¢ Colts strategic plan they continue to increase the younger teams frorn the Football School and Wildcats on a Friday evening is growing in numbers. Theatre Grou Another superb village group, the Theatre Group uses the conservatory or fimction room to rehearse their exc¢llent productions. Their pantomime is supported by large numbers in the Con]munity, they are currently rehearsing for their production of Aladdin. The To Club Fund has been re-established and due to the amazing Volunteer siipport, the Club held their amiual Fireworks Display in Novemb¢r 2023. Calverton MW Football School - The School continues to encourage the growth of Calverton Colts by instigating the formation of a n¢w Under 8s t¢&m each year. Growth of new t¢llS may be restricted unless the 3G project is successftd. Ladies Darts: Thc team had a successfil season reaching the semi-final of the Cup with Toni Arnigtrong winning the 180 Award. For 2024 the Ladies Darts arc hopillg to create a mixed darts team. 5. Financial Review and Investment Polic The charity had net incoming resources for the year of +£1,338 (2022 +£1,970). Incoming resources increased by +£1 0,817 in th¢ year. The occupational licence fee was increased again by £720 to £12,610 which still allowed the company to return a surplus of +£7,718 and fulfilled the coinpany, s aim to return to profitability, Gift aid of +£7,718 was gifted to thc charity in thc current year based on these profits. Th¢ Trustees policy, agreed with the company, that the occupationa] licence fee would be set at l O % of turnover until fvrther notice to allow the company to continue to strengthen its finances continues to achieve its objective and is very pleasing to the Trustees. The percentage agreed exceeds the CISWO policy of an occupational licence fee equating to 60/0 of turnover and is a good indicator of the improvernent in the coinpany, s finances. Other income streams increased by +£6,810 even with the loss of Covid 19 grant support which Conclud in 2022 (-£4,000) and an insurance claiin received in the prior year (-£1,591). The charity opted to tax its supplies of land for VAT purposes on l October 2023 in order to be able to recover input tax for the impending 3G pitch constmction - a major project for thc charity. Prior to this decision b¢ing made the ChltY was unable to recover all the VAT on its expenses and the Trustees made the decision to opt to tax in order to be able to recover VAT on the impending major project's costs. The charity's dccision to opt to tax has affected income streams as VAT is now payable on all supplies of land. However, a pricing 20
policy has been aeed with the charity's iisers which will slowly illcrease prices to rccovcr th¢ additional costs of VAT. In 2023 the release of designated funds for th¢ 20 year project to improve the playing fields and build additional changing rooms concluded causing a dccrcase in grants and donations of -£1 0,527 but this was offset by an increase in sub-section cash and bank balances of +£8,152 and fundraising income received for the 3G pitch construction project of +£14,271. The unrestricted fLmd received a ant of +£7,424 from the Football Foundation for pitch maintenance in addition to the contiibutions from Calverton Miners Welfa Social Club Ltd. Both room hirelrents and pitch hire suffered from the effects of VAT charges (-£224) following the Trustee's policy of gradually increasing fe¢s to its users but increased usage of both the outdoor pitches and the Pitch Inn mainly offset thes¢ costs. The Trustees expect that the VAT costs will b¢ fully absorbed by the charity's users by the end of 2024. If we exclude the subsection surplus the charity retLned a deficit of -£9,642 {2022 - £858). The income StrenS rq)orted in the 2023 accounts demonstrate the success of the Trustees long tenn policy of making full use of the charity's faGilitics for the cominunity. Overall, the Chlty,S incoming resources totalled +£122,370 (2022 +£111,553). Expenditure rose during thG year by +£11,449 (2022 -£1,346) to £121,032. Many of the charity's costs rTrained constant or increased witlL inflation in the year - Viv corcora thc Secretary to the Scheme is tasked by the Tn]stees to constantly monitor costs and identify cost savings which she continu¢s to do with vigour and great success. An example of Mrs Corcoran's attention to the clmrity's costs is th6 ]Iiarginal increase in light and hcat costs (+£668) - many other organisations bave experienced large increases in energy costs but the constant att¢ntion to the charity's overheads has r¢apcd rcwards in 2023. Expenditure on the 3G project of +£3,680 increased tbe charity's costs as legal and administrative costs were incurred - please see Note 15 to thc accounts which desciibes th¢ costs in more detail. Repairs and renewals cost8 decreased by -£4,3 83 as no niajor repairs were incuNed during thc year. Grounds maintenance costs rose by +£4,116 following expenditure on the pitches to improve their quality - the expenditure is reirnburscd by the FootbalI Foundation pitch niaintllice grant recorded in the charity's incorne for the year. Wages and salaries rose by +£6,174 following a return to full operational capacity and the coiitinued part-time employment of a caretak¢r/rnaintenance employee. In 2023 the residual cost of irrecoverable VAT to 30 September 2023 following the partial exemption position of the charity in respeot of exempt siipplies of land has been written off to the SOFA +£6,576 {2022 +3,3 89). In 2024 the Chity'S accounts will not include this particular cost following the option to tax made by the charity from l October 2023. Other costs remained within the parameters expected by the Trustees. Overall, the charity's outgoing resources totalled +£121,032 (2022 +£109,583). Total fund balances decreased by -£14,519 (2022 -£32,130) to £177,397 as of 31 December 2023. Even though the chlty reported a sillylus in the year the fall in value is affected by the release of deferred grants relating to the 20-year proj ect of ground improvements which conllnenccd in 2003 and complct¢d in 2023. The designated fund now mainly includes the play area funding received in 2022, the 3G 20
pitch ftindraising and the sub-sections cashlbank balances at year end - please see Note 8 to the accounts for further analysis, Fixed assets, although decreasing following depreciation charges, included an amount of £400 in respect of capital additions, The Trustccs are very pleased to report that the r¢furbisl]ment of tbe fLmCtion room coinpleted in 2021- now renarn the Pitch Inn- is now bringing positive income streams to the charity and has been well received by the community. Most of the work completed on both the lounge and function roo]n was completed by the charity's amazing team of volunteers who canied out most of the laboiw elan¢nt of the works in their own tim¢. The Trustees are indebted to the volunteers who gave their tllne and inspiration to update the charity's premises - the building looks fantastic after the work done - again thank you. Capital assets purchased in 2023 included a floor buffer +£157, bsh cutter +£112 and Xmas tre&decorations +£131. Other elanents of the balance sheet included a decrease in debtors of -£249 as room hirc dcbtors paid. Total credAtors fell by -£4,230 mainly resulting from a decrease in trade creditors and the loan account with Calv¢rton Mincrs Welfare Social Club Ltd but offset by an illCTeasc ill taxation following the increased VAT payable at year end following the option to tax. Statement of Investment Principles The Trustees Investment is managcd by JP Morgan Fleming Asset Management (UK) Ltd, provides for "a balanced return from income and capital wwth" Investment Principles l. The Trustees have appointcd J.P. Morgan Fleming Asset Management to nianage the assets of the Charity in accordance with the principles sct out in this statement and within the guidelines set down from time to time by the Trustees. 2. The Trnstees will monitor the perforn]ance of the investment ]nanager against the stated Perforniance Objective. Performanc¢ reports and valuations will be obtained quartcrly. Attendance by tlie Manager at client rneetings is by client request, 3. The Trustees do not impose any restrictions whether in respect of ethical 80cial or environmental matters, or voting policy or othenvise, believing that this course is in the best interests of the objectives of the Funds. Investnient Objectives 4. The Objeotive of the Trustees through the Fledgling UK Equity Fund is to provide the Charity with growth in capital and inci)ine frorn a diversified portfolio of UK equity shares, with the aim of preserving the real purchasing power of the capital and income over the longer temi. 5. All Funds are to be managed on a discretionary basis. Although the investments held by JP Morgan Fleming were sold in 2009 any future surpluses would be invested with the company. 20
- Reserves Pollc The free reserves of the charity (excluding fixed assets) cornprised the unrestricted reserves. On 31 December 2023 the fr¢e rcs¢rv¢s of these fidS were -£56,939 (2022 -£63,593), The Trustees are conscious that the annual cost of maintaining the Scheme Inay be greater than the income generated by the fimd and any free reserves of the charity will bc utilised to cover the expected anniial shortfall if necessary. In additio the Trustees are conscious that there will be a significant beneficiary population for many years h¢n¢e and therefore they wish to ensure that the Scheme remains viable for as long as a beneficiary need exists. The Trustees are of the opinion that althou free reserves are in a negative position temporarily the anticipated incornes from the activities of the Schem¢ will be sufficient to enable them to meet that cominitment to th¢ beneficiary population in Calverton for many years to come, The Trustees are constantly examining ways to improve the position of Scheme and its ability to raise income for the furtherance of the charity's objectives and meetings are held regularly to consider this,
- Risk Mana en]ent The Trustees have examined th¢ major strategic, business, and operational risks which the charity faccs and confinn that systems have been established to enable regular reports to be produced so that the necessary steps call be takcn to Icsscn these risks.
- Trustees, Res onsibilities in relation to the Fillaucial Statements. Law applicable to charities in England and Wales required the Trustccs to prepare financial statements for each financial ycar which give a true and fair view of the chltY and of the incoming resources and application of resoirces of the charity for that period. In preparing those financial Statllents, the tNstccs are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP. malce judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed subject to any m&terial departures disclosed and explained in the financial stat¢ments. prepare the financial statanents on the going concern basis unless it is inappropriate to presuine that the charity will continue in business. The TrustcGs arc rcsponsible for keeping accounting records which disclosc witli reasonable accuracy at any time the financial position of the charity and enable thejn 20
to ensure that the financial statements comply with th¢ ChtIeS Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the ptevention and detection of fraud and other inEgularities. Approved by the TTUSt¢es and signed on their behalf by: Signature (Trustee); Full Name PAul-, Date: S.-é-'l LP 20
to ensure that the financial statements comply with the Charities Act 1993. 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. Approved by the Trnstees and signed on their behalf by: Signature (Trustee): Full Name Date: ftrla77K£O 19