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← Welbeck Miners Welfare Trust

2024-06-30-accounts

WELBECK MINERS' WELFARE TRUST

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

WELBECK MINERS' WELFARE TRUST

INDEX TO THE FINANCIAL STATEMENTS

PAGE
Legal and Administrative Details 1
Trustees’ Report 2-3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7-9
SectionsAccounts 10-11

WELBECK MINERS' WELFARE TRUST

LEGAL AND ADMINISTRATIVE DETAILS

Charity Registration Number: 522319

Address of Charity: Elkesley Road Meden Vale Mansfield Nottinghamshire NG20 9PS Trustees: Mr R J Dalton Mr M H Heaton Mr G N Hall Mr A Elce Bankers: NatWest Bank plc 9 Church Street Mansfield Nottinghamshire NG18 1HP Independent Examiner: J Wallage FCA CISWO (Trading) Ltd The Old Rectory Rectory Drive Whiston Rotherham S60 4JG

1

WELBECK MINERS' WELFARE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

The trustees present their report along with the financial statements of the charity for the year ended 30 June 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 constituted by a Scheme of the Charity Commissioners dated 27 September 2006 and was registered on 19 May 1965 with the number 522319.

The object of the charity is the provision of a recreation ground and village hall for the benefit of the people living in and around the village of Meden Vale near Mansfield in Nottinghamshire, with the object of improving the lives of those people, especially those who are members of the mining community.

The trustees have referred to the guidance given by the Charity Commission on public benefit when reviewing the charity's aims and objectives and details of the activities that have taken place during the year can be found later in this report.

Organisational Structure

The trustees who have served the charity during the year are shown on page 1.

The Buildings (excluding the village hall and the changing rooms) have previously been demolished and the charity remains responsible for the overall maintenance of the village hall, changing rooms and grounds. The users of those facilities as part of their conditions of use are required to keep the buildings and pitches in a good state of repair.

Sports clubs are responsible for the maintenance of their respective pitches. The charity insures and is responsible for the maintenance of the buildings. These costs are covered by a monthly payment from Meden Vale RFC and Meden Vale Colts FC for use of the facilities. These are to be reviewed annually.

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 or trade union members. The Trustee Board is made up of equal numbers of each nominating body.

Financial Review

The charity had net outgoing resources of £16,204 (2023: net incoming resources £1,547). The trustees are aware that this result is due in part to high depreciation costs which are unavoidable as substantial capital grants received a few years ago are gradually written off. However, they are aware of their responsibilities and by working closely together are hopeful that future years will reflect a surplus of incoming resources.

Reserves Policy

It is the policy of the trustees to maintain unrestricted funds which are the free reserves of the charity, at a level to provide sufficient funds to cover anticipated administration and support costs for a period of 12 months. Any additional reserves are held to provide a capital fund for repairs that will be required for the upkeep of the premises.

Risk Management

The trustees are aware of the operational and financial risks which the charity faces and regularly reviews those riske to mitigate against any impact they may have on the charity. The major risk facing the charity is the continued support of the individuals and the community in using the facilities and the introduction of the younger generation to provide for the future. The trustees work closely together with members to address these risks.

Investment Policy

The charity does not have an investment policy as such as the trustees feel there are insufficient funds to consider any sort of investment at this time. However, they will continue to monitor this situation and make changes accordingly.

Continued...

2

WELBECK MINERS’ WELFARE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 (CONTINUED)

Review of Activities

The trustees have referred to the guidance given by the Charity Commission on public benefit when reviewing the aims and activities and, as a result, the following have taken place during the year.

Meden Vale Rugby Football Club

The rugby section are continuing to use the facilities at the welfare.

Meden Vale Colts Football Club

We are pleased that this section are now using the facilities at the welfare.

We continue to seek to source grants and sponsorship for a variety of reasons and probably calls for the club needing to find volunteers just to concentrate on this aspect rather than others having their workload increased.

Obtaining sufficient funds to ensure a healthy financial position will always be one of our main challenges and the reluctance of local businesses to commit to support us has led us to look further afield for this. | think that the demands on our parents to pay in their registration fees and match and training subs is at its current limit so we continue to cut our coat according to the cloth we have available.

Statement of Trustees’ Responsibilities

Law applicable to charities in England and Wales requires the trustees to 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 charity for that period. In preparing those financial statements, the trustees are required to;

The trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.

Signed - Trustee

Print Name - Trustee

Date

3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WELBECK MINERS' WELFARE TRUST

| report to the Trustees on my examination of the accounts of the above named charity (registered no. 522319) for the year ended 30 June 2024, set out on pages 5 to 9.

Responsibilities and basis of report

As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).

| report in respect of my examination of The Trusts accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiners Statement

| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

(1) accounting records were not kept in respect of the Charity as required by section 130 of the act: or

(2) the accounts do not accord with those records; or

(3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give 'a true and fair view' which is not a matter considered as part of an independent examination.

| 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.

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J Wallage FCA

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On behalf of CISWO (Trading) Ltd

The Old Rectory

Rectory Drive Whiston Rotherham S60 4JG

4

WELBECK MINERS' WELFARE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024

Unres- Desig- Res-
tricted nated tricted Total Total
Note Funds Funds Funds 2024 2023
Income and Endowments £ £ £ £ £
Hire ofsporting facilities 7,200 - - 7,200 7,650
Hire of village hall 880 - - 880 400
Grants received 5,625 - - 5,625 5,625
Donation 24 - - 24 2
Sections income 6 - 154,074 - 154,074 122,980
TOTAL INCOMING RESOURCES 13,729 154,074 - 167,803 136,655
Expenditure
Direct Charitable Expenditure
Rent, rates and water 1,696 - - 1,696 1,268
Insurance 1,093 - - 1,093 926
Light and heat 1,092 - - 1,092 3,100
Repairs and maintenance 6,311 - - 6,311 3,447
Depreciation 2 2,887 240 8,558 11,685 10,639
Sections expenses 6 - 161,206 - 161,206 114,960
Administration Expenses
Accountancy 900 - - 900 768
Bank charges 24 - - 24 -
Total Expenditure 14,003 161,446 8,558 184,007 135,108
NETMOVEMENT IN FUNDS (274) (7,372) (8,558) (16,204) 1,547
Fund balances brought forward 33,598 22,684 323,188 379,470 377,923
FUNDBALANCESCARRIEDFORWARD 33,324 15,312 314630 363,266 379,470

5

WELBECK MINERS' WELFARE TRUST

BALANCE SHEET AS AT 30 JUNE 2024

NOTE 2024 2023
£ £ £ £
FIXED ASSETS
Tangible assets 2 348,124 359,809
CURRENT ASSETS
Stock 3 300 350
Debtors 4 1,235 1,650
Cash at bank and in hand 3,220 1,145
Cash held by sections 6 14,606 21,242
19,361 24,387
LESS: CURRENT LIABILITIES.
Creditors falling due within one year 5 (4,219) (4,726)
NETCURRENTASSETS 15,142 19,661
TOTAL ASSETS 363,266 379,470
FINANCED BY:
Unrestricted Funds 33,324 33,598
Designated Funds 15,312 22,684
Restricted Funds 7 314,630 323,188
363,266 379,470

The financial statements were approved by the trustees and signed on their behalf by:

Signed - Trustee

Print Name - Trustee

Date

6

WELBECK MINERS' WELFARE TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024

1. ACCOUNTING POLICIES

a) Basis of preparation and assessment of going concern

The financial statements have been prepared under the historical cost convention unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS102) and the Financial reporting Standard (FRS102) 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 reserves to continue in operation existence for the foreseeable future. Accordingly the trustees continue to adopt the going concern basis in the preparation of the accounts.

b) Income Recognition

Income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations are recognised when they are received.

c) Expenditure 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 will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.

Grants are recognised when they are approved and the intention has been communicated to the recipient.

d) Depreciation

The Institute Buildings have been demolished and the site cleared before 30 June 2015. All Fixtures and Equipment have either been sold or scrapped at nil value by that date. Consequently no depreciation charges arise in respect of the above. The remaining property comprises the Village Hall and the Changing Rooms.

The applied rates of depreciation are as follows:

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|||||||| |---|---|---|---|---|---|---| |Buildings|Village|Hall|- 4%|per annum|over 25|years.| |Improvements|-|10%|per annum|over|10|years.| |Changing|rooms|- 2%|per annum|over|50|years.| |Fencing|-|10%|per annum|over|10|years.| |Meden|Vale|RFC| |Equipment|-|10%|per annum|over|10|years.|

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7

WELBECK MINERS' WELFARE TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024

Village Changing Sections
2. FIXEDASSETS Hall Rooms Fencing Equipment Total
£ £ £ £ £
Cost
At 1 July 2023 50,471 424,962 3,120 2,400 480,953
Additions - - - - -
At 30 June 2024 50,471 424,962 3,120 2,400 480,953
Depreciation
At 1 July 2023 14,400 102,398 2,496 1,850 121,144
Charge for the year 2,647 8,486 312 240 11,685
At 30 June 2024 17,047 110,884 2,808 2,090 132,829
Net Book Value
At 30 June 2024 33,424 314,078 312 310 348,124
At 30 June 2023 36,071 322,564 624 550 359,809
2024 2023
£ £
3. STOCK
Stock of rugby ties 300 350
4. DEBTORS
Prepayments and accrued income 894 621
Rugby section debtors 341 1,029
1,235 1,650
5. CREDITORS: Amounts falling due within one year
Accruals 3,553 4,239
Rugby section creditors 245 487
’ Other creditors 421 =
4,219 4,726

8

WELBECK MINERS' WELFARE TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024

Balances Balances
BIF Receipts Payments CIF
6. SECTIONS FUNDS £ £ £ £
Rugby Section 19,837 22,812 (27,938) 14,711
Football Section 2,847 131,262 (133,508) 601
22,684 154,074 (161,446) 15,312
Cash & Other
Bank Balances Total
£ E £
Rugby Section 14,005 706 14,711
Football Section 601 ~ 601
14,606 706 15,312

7. RESTRICTED FUNDS - SPORTS DEVELOPMENT PROJECT

The charity had previously completed work on a large scale sports redevelopment project which had been funded by substantial grants received from The Football Foundation and Mansfield District Council.

Mansfield District Council.
2024
E
Restricted Funds as at 1 July 2023 323,188
Depreciation charge for the year (8,558)
RestrictedFundsasat30June2024 314,630

9

WELBECK MINERS' WELFARE TRUST YEAR ENDED 30 JUNE 2024

MEDEN VALE RFC - 2022/2023 SEASON

2023/24 Season 2022/23 Season
£ £ £ £
INCOME
International Tix 3,306 9,413
Sponsorship 7,500 3,000
Senior match tax and subs 1,643 1,027
Junior match tax and subs - 20
Social subs 30 10
Stash 1,354 -
Presentation tickets sold 2,257 5,035
Donations 5,612 2,000
Interest/dividends 24 10
Sale of ties/shirts/shorts/clothing 863 398
Sundry income 223 -
AGM debts paid - 84
22,812 20,997
EXPENDITURE
International Tix 3,306 9,408
Match day and cup final transport 1,275 -
New kit /stash / blazers 7,122 -
Referees 360 420
Framing 255 100
Use ofwelfare facilities 1,800 1,800
Repairs and maintenance 1,538 482
Line marking/pitch care 312 337
Hospitality including MoM 581 -
Memberships 35 35
Christmas do / dinner dance 9,822 250
AGM food and drinks 176 110
Other expenses 620 459
Movement in asset values 736 631
(27,938) (14,032)
EXCESS OF (EXPENDITURE OVER INCOME)
INCOME OVER EXPENDITURE (5,126) 6,965
Balances brought forward 19,837 12,872
Balances carried forward 14,711 19,837
Split between:
Cash and bank balances 14,005 18,395
Other balances 706 1,442
14,711 19,837

10

WELBECK MINERS' WELFARE TRUST YEAR ENDED 30 JUNE 2024

MEDEN VALE COLTS FC - 2023/2024 SEASON

2023/24 2022/23
£
£		 £ £
INCOME
Player income 75,844 51,319
Player registration
/committee DBS		 440 837
Sponsorship / grants 25,128 25,345
Kitchen sales 2,936 2,783
Raffle, Tote and bonus ball 16,316 12,372
Club events 6,672 7,578
Merchandise . 520 -
Fines received 732 980
Other income 1,127 769
Difference on opening balance 1,547 -
131,262 101,983
EXPENDITURE
Ground rent 5,400 5,850
Match costs 10,448 10,971
Winter training costs 11,040 12,894
Tournaments 2,090 -
League and FA registrations 7,044 1,554
Equipment purchases 26,591 22,570
Kitchen stock 6,254 1,193
Raffle tickets and tote 9,045 5,089
Event costs 15,717 19,973
Fines paid 2,678 1,992
Grounds maintenance (incl pitch improvement project) 25,853 10,041
Insurance - 763
Staff training including DBS 2,576 1,925
Marketing 614 484
Systems 2,124 -
Otherexpenses 6,034 5,622
Difference on opening balance 2 247
(133,508) (101,168)
EXCESS OF (EXPENDITURE OVER INCOME)
INCOME OVER EXPENDITURE (2,246) 815
Balances brought forward 2,847 2,032
Balancescarriedforward 601 2,847

11

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