OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-09-30-accounts

Charity registration number 523222

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

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 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 - 13

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021

The trustees present their annual report and financial statements for the year ended 30 September 2021.

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.

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 global pandemic during the fiscal year and as a result , there has been a reduction in membership income as members of the squash and football sections (who had not received reduced rates the previous year) were offered reduced membership rates. This reduction was compensated through multiple grants obtained through the social club totaling £26,143. The social club also benefitted from furlough payments totaling £8,606. The club were also in receipt of a £1,000 grant from Arnold Clark.

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 consider 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 have 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.

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

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 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

8 July 2022

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 2021.

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:

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

Dated: 8 July 2022

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2021

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2021 2020
Notes
£		 £
Income and endowments from:
Donations and legacies 3 14,500 11,781
Charitable activities 4 49,147 38,923
Other trading activities 5 19,102 27,189
Other income 6 7,989 14,540
Total income 90,738 92,433
Expenditure on:
Charitable activities 7 75,273 71,854
Other 10 (2,052) (3,401)
Total expenditure 73,221 68,453
Net income for the year/
Net movement in funds 17,517 23,980
Fund balances at 1 October 2020 304,952 280,972
Fund balances at 30 September 2021 322,469 304,952

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

BALANCE SHEET

AS AT 30 SEPTEMBER 2021

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		 2021
£
120
28,240
102,740
131,100
(11,833)		 £
203,202
119,267
322,469
322,469
322,469		 2020
£
120
30,896
74,994
106,010
(4,506)		 £
203,448
101,504
304,952
304,952
304,952

The financial statements were approved by the Trustees on 8 July 2022

Mr A Brumfield Trustee

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

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, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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.

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

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 the statement of financial activities .

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.

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

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.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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.

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

3 Donations and legacies

Unrestricted Unrestricted Unrestricted
funds funds
2021 2020
£ £
Membership fees 14,500 11,781
Charitable
activities
Squash Bowling Tennis Cricket Football Total Total
section section section section section 2021 2020
2021 2021 2021 2021 2021
£ £ £ £ £ £ £
Sales within
charitable
activities 4,859 5,034 2,775 23,510 12,969 49,147
38,923

4 Charitable activities

For the year ended 30 September 2020

Sales within charitable
activities
Analysis by fund
Unrestricted funds		 Squash
section
£
9,195
9,195		 Bowling
section
Tennis section Cricket section
£
£
£
3,127
2,185
11,658
3,127
2,185
11,658		 Football
section
£
12,758
12,758		 Total
2020
£
38,923
38,923

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

5 Other trading activities

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Expenses recharged to SOCO 3,612 3,612
Hire of club facilities 867 3,437
SOCO Donation 14,623 20,140
Other trading activities 19,102 27,189

6 Other income

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Net gain on disposal of tangible fixed assets - 943
Other income 1,000 6,500
Squash light meters 2,353 2,461
Orange site rental 4,636 4,636
7,989 14,540

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

7 Charitable activities

Expenditure Expenditure
2021
2020
£
£
Depreciation and impairment 2,373
2,400
Squash section 6,007
7,312
Bowling section 4,453
2,213
Tennis section 3,618
3,913
Cricket section 19,332
12,707
Football section 9,411
10,328
Wages 8,781
10,794
Rates, waste and water 1,372
1,159
Insurance 2,701
2,421
Light and heat 6,393
7,105
Telephone and internet 1,028
886
Sundries 747
877
Petrol and oil 391
349
Repairs 6,416
7,315
Accountancy 2,250
2,075
75,273
71,854
75,273
71,854

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
2 2

There were no employees whose annual remuneration was more than £60,000.

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

10 Other

Unrestricted Unrestricted
funds funds
2021 2020
Irrecoverable VAT (2,052)
(3,401)
(2,052)
(3,401)
11 Tangible fixed assets
Freehold land Plant and Fixtures and Total
and buildings equipment fittings
£ £ £ £
Cost
At 1 October 2020 181,786 53,015 50,931 285,732
Additions - 2,127 - 2,127
At 30 September 2021 181,786 55,142 50,931 287,859
Depreciation and impairment
At 1 October 2020 - 40,883 41,401 82,284
Depreciation charged in the year - 1,424 949 2,373
At 30 September 2021 - 42,307 42,350 84,657
Carrying amount
At 30 September 2021 181,786 12,835 8,581 203,202
At 30 September 2020 181,786 12,132 9,530 203,448
12 Stocks
2021 2020
£ £
Finished goods and goods for resale 120 120

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

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		 2021
£
2,702
25,292
246
28,240
2021
£
356
9,407
2,070
11,833		 2020
£
951
29,688
257
30,896
2020
£
320
2,116
2,070
4,506

15 Related party transactions

There were no disclosable related party transactions during the year (2020 - none) .