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2023-09-30-accounts

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Filename: 2023 - Full Accounts 2023.pdf Client of: Finnies Accountants Ltd

Signature Details

Name: Olly Grantham
Email: ograntham@hotmail.com
Date & Time: 25/07/2024 16:28:38 PM (BST)
IP Address: 87.102.110.129
Signing Statement: Olly Grantham agrees and approves the contents of
this document.

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Charity registration number 523222

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

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 United Kingdom 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 2023

The trustees present their annual report and financial statements for the year ended 30 September 2023.

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 continued to develop after the impact of the pandemic with multiple thriving sporting sections and improvements being supported through grant awards from the ECB and Football Foundation.

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.

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

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

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' report was approved by the Board of Trustees.

Mr O T Grantham

Trustee

25 July 2024

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 2023.

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 United Kingdom

Dated: 25 July 2024

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income and endowments from:
Donations and legacies 3 22,340 18,872
Charitable activities 4 146,595 108,895
Other trading activities 5 23,303 9,014
Other income 6 23,507 35,432
Total income 215,745 172,213
Expenditure on:
Charitable activities 7 194,920 148,597
Other expenditure 11 - 4,096
Total expenditure 194,920 152,693
Net income and movement in funds 20,825 19,520
Reconciliation of funds:
Fund balances at 1 October 2022 341,989 322,469
Fund balances at 30 September 2023 362,814 341,989

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 2023

Notes
Fixed assets
Tangible assets
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the charity
Unrestricted funds		 2023
£
120
44,860
122,205
167,185
(24,301)		 £
219,930
142,884
362,814
362,814
362,814
362,814		 2022
£
120
27,730
111,837
139,687
(15,038)		 £
217,340
124,649
341,989
341,989
341,989
341,989

The financial statements were approved by the trustees on 25 July 2024

Mr A Brumfield Trustee

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

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 amounts 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 2023

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 2023

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 payments 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 2023 nor the year ended 30 September 2022.

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 2023

3 Income from donations and legacies

Unrestricted Unrestricted Unrestricted
funds funds
2023 2022
£ £
Membership fees 22,340 18,872
Charitable
activities
Squash Bowling Tennis Cricket Football Total Total
section section section section section 2023 2022
2023 2023 2023 2023 2023
£ £ £ £ £ £ £
Sales within
charitable
activities 7,466 7,455 4,281 41,946 85,447 146,595 108,895

4 Charitable activities

For the year ended 30 September 2022

Sales within charitable
activities
Analysis by fund
Unrestricted funds		 Squash
section
£
7,070
7,070		 Bowling
section
Tennis sectionCricket section
£
£
£
6,549
3,021
42,217
6,549
3,021
42,217		 Football
section
£
50,038
50,038		 Total
2022
£
108,895
108,895

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Expenses recharged to SOCO 3,612 3,672
Hire of club facilities 3,746 5,342
SOCO Donation 15,945 -
Other trading activities 23,303 9,014

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

6 Other income

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Other income 14,400 24,830
Squash light meters 4,471 4,807
Orange site rental 4,636 5,795
23,507 35,432

7 Expenditure on charitable activities

Expenditure Expenditure
2023 2022
£ £
Direct costs
Depreciation and impairment 6,043 3,938
Squash section 7,460 3,278
Bowling section 5,357 5,639
Tennis section 3,233 1,882
Cricket section 55,336 42,322
Football section 70,620 44,134
Wages 12,030 5,285
Rates, waste and water 2,836 1,414
Insurance 4,351 2,974
Light and heat 18,240 8,290
Telephone and internet 1,522 1,460
Sundries 5,544 1,722
Petrol and oil 361 514
Repairs 6,172 18,563
Accountancy 2,050 2,050
Legal and professional 725 506
Other charitable expenditure (6,960) 4,626
194,920 148,597
Analysis by fund
Unrestricted funds 194,920 148,597
8 Net movement in funds 2023 2022
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 6,043 3,938

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

9 Trustees

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

10 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
2 2

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

11 Other

Irrecoverable VAT Total
Unrestricted
funds
£
2023
2022
-
4,096
-
4,096		 Total
Unrestricted
funds
£
2023
2022
-
4,096
-
4,096
4,096

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

13
Tangible fixed assets
Freehold land
and buildings
Plant and
equipment
Fixtures and
fittings
£
£
£
Cost
At 1 October 2022
181,786
66,706
57,443
Additions
6,791
429
1,413
At 30 September 2023
188,577
67,135
58,856
Depreciation and impairment
At 1 October 2022
-
44,739
43,856
Depreciation charged in the year
-
4,360
1,683
At 30 September 2023
-
49,099
45,539
Carrying amount
At 30 September 2023
188,577
18,036
13,317
At 30 September 2022
181,786
21,967
13,587
14
Stocks
2023
£
Finished goods and goods for resale
120
15
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
-
Other debtors
44,461
Prepayments and accrued income
399
44,860
16
Creditors: amounts falling due within one year
2023
£
Trade creditors
20,181
Accruals and deferred income
4,120
24,301		 Total
£
305,935
8,633
314,568
88,595
6,043
94,638
219,930
217,340
2022
£
120
2022
£
12,302
15,151
277
27,730
2022
£
12,968
2,070
15,038

BEVERLEY TOWN CRICKET AND RECREATION PLAYING CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds		 October
2022
Incoming
resources
Resources
expended
At 30
September
2023
£
£
£
£
341,989
215,745
(194,920)
362,814
October
2021
Incoming
resources
Resources
expended
At 30
September
2022
£
£
£
£
322,469
172,213
(152,693)
341,989

18 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).