Charity Registration No. 523222
BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr O T Grantham Mr A Brumfield Mr R J Taylor
Charity number
523222
Independent examiner
Finnies Accountants Limited
4-6 Swaby's Yard Walkergate Beverley East Yorkshire England HU17 9BZ
BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 12 |
BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2020
The trustees present their report and financial statements for the year ended 30 September 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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
The purpose of the club is "the provision in the interests of social welfare of games, sports and recreation for the inhabitants of Beverley and District so that their conditions of life may be improved". Payment of the playing membership entitles the member to play all sports.
The club employs 2 part-time grounds men and 1 part-time cleaner.
During the year the club maintained its playing facilities for cricket, squash, tennis, bowls and football. There is still a healthy number of juniors playing cricket and squash. Total membership is about 360. All sections have been awarded a certificate under the East Riding Club Accreditation Scheme.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The club has been affected by the Covid 19 pandemic during the year, as a result of this there has been a reduction in membership income as members were offered reduced rates. However, the Social club obtained a £25,000 grant and also furlough claims totalling £6,800 to cover wage payments during the pandemic.
The club were also in receipt of a Sport England grant related to Covid 19 of £6,500 and various sport specific grants relating to restarting sport in a safe way following the pandemic.
The club was also successful in the receipt of a grant from the Football Foundation and East Riding Councils Commuted Sums for the purchase of a new tractor.
Financial review
The general club aims to operate within its financial restrictions and aims to retain a financial reserve of £20,000 to be used for unforeseen and unplanned necessary repairs and maintenance which may arise and have working capital to pay for goods up front. The general club plans to have a 20% excess from general activities. The surplus is set aside for capital developments and contributions to sporting improvements. Sections are expected to operate in a similar financially responsible manner with an operating model which allows for a budget surplus to contribute to future capital expenditure.
After allowing for the above, financial reserves are sufficient to cover all anticipated expenditure.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The Charity's governing document is the club rules.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr O T Grantham
Mr A Brumfield
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BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
Mr R J Taylor
New trustees are appointed by the members at the Annual General Meeting. Trustees who already hold office are re-elected at the same meeting.
The trustees' r eport was approved by the Board of Trustees.
Mr O T Grantham
Trustee Dated: 17 June 2021
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BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
I report to the trustees on my examination of the financial statements of Beverley Town Cricket and Recreation Playing Club (the charity) for the year ended 30 September 2020.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with
the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Finnies Accountants Limited
4-6 Swaby's Yard Walkergate Beverley East Yorkshire HU17 9BZ England
Dated: 17 June 2021
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BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2020
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2020 | 2019 | ||
| Notes | £ |
£ | |
| Income and endowments from: | |||
| Donations and legacies | 3 | 11,781 | 16,828 |
| Charitable activities | 4 | 38,923 | 75,076 |
| Other trading activities | 5 | 27,189 | 12,484 |
| Other income | 6 | 14,540 | 10,403 |
| Total income | 92,433 | 114,791 | |
| Expenditure on: | |||
| Charitable activities | 7 | 71,854 | 100,554 |
| Other | 10 | (3,401) | 6,362 |
| Total resources expended | 68,453 | 106,916 | |
| Net income for the year/ | |||
| Net movement in funds | 23,980 | 7,875 | |
| Fund balances at 1 October 2019 | 280,972 | 273,097 | |
| Fund balances at 30 September 2020 | 304,952 | 280,972 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
BALANCE SHEET
AS AT 30 SEPTEMBER 2020
| Notes Fixed assets Tangible assets 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 Income funds Unrestricted funds |
2020 £ 120 30,896 74,994 106,010 (4,506) |
£ 203,448 101,504 304,952 304,952 304,952 |
2019 £ 120 11,544 97,285 108,949 (9,489) |
£ 181,512 99,460 280,972 280,972 280,972 |
|---|---|---|---|---|
The financial statements were approved by the Trustees on 17 June 2021
Mr A Brumfield Trustee
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BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
1 Accounting policies
(Continued)
1.5 Expenditure
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 0% pa on cost Plant and equipment 10% pa on written down value Fixtures and fittings 10% pa on written down value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.8 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.11 Taxation
The charity is exempt from tax on its charitable activities.
There were no trustees' remuneration or other benefits for the year ended 30 September 2019 nor the year ended 30 September 2018.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2020 | 2019 | |
| £ | £ | |
| Membership fees | 11,781 | 16,828 |
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BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
4 Charitable activities
| Squash | Bowling | Tennis | Cricket | Football | Total | Total | |
|---|---|---|---|---|---|---|---|
| section | section | section | section | section | 2020 | 2019 | |
| 2020 | 2020 | 2020 | 2020 | 2020 | |||
| £ | £ | £ | £ | £ | £ | £ | |
| Sales within | |||||||
| charitable | |||||||
| activities | 9,195 | 3,127 | 2,185 | 11,658 | 12,758 | 38,923 | 75,076 |
For the year ended 30 September 2019
| Sales within charitable activities Analysis by fund Unrestricted funds Other trading activities Expenses recharged to SOCO Hire of club facilities SOCO Donation Other trading activities |
Squash section £ 17,854 17,854 |
Bowling section Tennis section Cricket section Football section Total 2019 £ £ £ £ £ 4,683 4,374 35,661 12,504 75,076 4,683 4,374 35,661 12,504 75,076 UnrestrictedUnrestricted funds funds 2020 2019 £ £ 3,612 3,612 3,437 7,563 20,140 1,309 27,189 12,484 |
|---|---|---|
5 Other trading activities
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BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
6 Other income
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2020 | 2019 | |
| £ | £ | |
| Net gain on disposal of tangible fixed assets | 943 | - |
| Other income | 6,500 | - |
| Donations | - | 12 |
| Squash light meters | 2,461 | 5,755 |
| Orange site rental | 4,636 | 4,636 |
| 14,540 | 10,403 |
7 Charitable activities
| Expenditure | Expenditure | |
|---|---|---|
| 2020 | 2019 |
|
| £ | £ |
|
| Depreciation and impairment | 2,400 | 2,096 |
| Squash section | 7,312 | 16,697 |
| Bowling section | 2,213 | 5,009 |
| Tennis section | 3,913 | 6,354 |
| Cricket section | 12,707 | 27,161 |
| Football section | 10,328 | 11,004 |
| Wages | 10,794 | 7,361 |
| Rates, waste and water | 1,159 | 1,906 |
| Insurance | 2,421 | 2,344 |
| Light and heat | 7,105 | 7,139 |
| Telephone and internet | 886 | 1,166 |
| Sundries | 877 | 3,339 |
| Petrol and oil | 349 | 488 |
| Repairs | 7,315 | 6,099 |
| Accountancy | 2,075 | 2,050 |
| Legal and professional | - | 341 |
| 71,854 | 100,554 |
|
| 71,854 | 100,554 |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
9 Employees
The average monthly number of employees during the year was:
| 2020 | 2019 |
|---|---|
| Number | Number |
| 2 | 2 |
| Unrestricted | Unrestricted |
| funds | funds |
| 2020 | 2019 |
| (3,401) | 6,362 |
| (3,401) | 6,362 |
| 2020 Number 2 |
2019 Number 2 |
||
|---|---|---|---|
| 10 Other UnrestrictedUnrestricted funds funds 2020 2019 Irrecoverable VAT (3,401) 6,362 (3,401) 6,362 11 Tangible fixed assets Freehold land and buildings Plant and equipment Fixtures and fittings Total £ £ £ £ Cost At 1 October 2019 162,606 48,952 50,931 262,489 Additions 19,180 5,313 - 24,493 Disposals - (1,250) - (1,250) At 30 September 2020 181,786 53,015 50,931 285,732 Depreciation and impairment At 1 October 2019 - 40,630 40,347 80,977 Depreciation charged in the year - 1,346 1,054 2,400 Eliminated in respect of disposals - (1,093) - (1,093) At 30 September 2020 - 40,883 41,401 82,284 Carrying amount At 30 September 2020 181,786 12,132 9,530 203,448 At 30 September 2019 162,606 8,322 10,584 181,512 |
UnrestrictedUnrestricted funds funds 2020 2019 (3,401) 6,362 (3,401) 6,362 |
||
| Total £ 262,489 24,493 (1,250) 285,732 80,977 2,400 (1,093) 82,284 203,448 181,512 |
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BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
| 12 Stocks Finished goods and goods for resale 13 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 14 Creditors: amounts falling due within one year Other taxation and social security Trade creditors Accruals and deferred income |
2020 £ 120 2020 £ 951 29,688 257 30,896 2020 £ 320 2,116 2,070 4,506 |
2019 £ 120 2019 £ 6,564 4,736 244 11,544 2019 £ 2,183 5,236 2,070 9,489 |
|---|---|---|
15 Related party transactions
There were no disclosable related party transactions during the year (2019 - none).
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