SWALL EST HAMLET MINERS ItLFARE INSTITUTE AND REGREATI N GROUND istered Charl number S STATEMENT OF ACCOUNTS YEAR ENDED 31 DECEMBER 2023
WALLOWNE AMLET hllN LFARE INSTI AND RECREATION GROUND FINANCI TATEMENTS D REPORT FOR THE YEAR ENDED 1 DECEMBER 2023 CONTENTS PA Truste&s' Report IndeFendènt Examinefs Report ststgment of Finanual Activibes Balance Sheet Recon¢tliation of FuTh1s Ststernenl Notes to the ACCO15 6-10 Leg818nd Administr8tiv& Details 11
SWALLObYNEST HAMLET MIN RS. WELFARE I ANO RECR N GROUND REPORT OF THE TRUSTEES R THE YEAR END 1 DECEMBER 2023 The truste85 wesent theff repgrt along with the financial statements of the tharity for the year ended 31 tJeGernbei 2023. The finanaal statements have been prepared In accordanc& with the accounting polides set out in Nota 1 to the accounts whh can be found on page 8. Constltutlon and Objects The charty Is constittrted by a s¢heme sealed on the 3rd May 2(M15 and 1$ re9iStered with Ihe Charity Commission under the nurnber 523473. Ils obJ"8cts'ves are to provide and maintain a weW8re Instte wth flIllIeS for recreation and lasure time activ"eS for benefit of ¢Me people of forrner mining cornrnunity of Swallovmest and the surrounding aa. Organlsatlonal Structurn The trustees have served th8 charty during the year are.. Mr Glenn Watts Mr Derek Manship Mr TY SantcKo Mr Peter Overton The Swelary and Treasurer ofthe Chanty is Mr. Gnn Watts The tarWs trustees are responsible for maintainirrfj the premis8s and its C4Xtent5 and grounds in a sultsble state of repair lor use by those live In the surrounding area. It rais85 s(me funds through various ¢h8rrtable activitie8. the main one being the hiring out of its fa(ilib"ès to the general public but a substantial amount of ts irKome land coverage of most ol its overheads) comes from Its connected trading company, Swallownest Miners. Wewwe Soaal Club Limited. which pays an annual occupats'onal liTrnce fee to the tharity in order lo njn its SinesS from the tharws premises. In addib.on to this. the company 8150 transfers any proffts rt makes to the ¢h8rty under a Gift Aid agreem so the trustees work ejosely with the dirertors to try and ensure that the company is profitable, thus en8urin9 extra income f(K the chaFIty. In 2013 the 0upatIOnal Licence was set at relah.vely low level of £3,OCIJ reflecting that the company was not ftnanclally strong and rt did Lar the li,$ shar8 of the overhead cost of running the building. The licen fee is reviewed annually. The licence fee was due to be increased In 2016 b(rt wrth the fire ith damaged main concertjfundion room of the building a deciskW was rnade to maintain the lee at £3,000 and this has been continued. A review was due in 2023 but with the difficult finanaal year fad by the compary this has now been deferred to 2024. The Directors of the rnrted Company and SocAal Club in 2023 were: Mr. Peter Overton (President and Directorl Mr. Glenn Watts ISe¢xetary and Treasurer) Mr. Tony Santoro Continu... la
WALLOWNEST H IblLET MI 'WE INSTITU AND RECREATION GROUN REPORT OF THE TRUSTEES CONTINUED THE YEAR ENDED 31 DECEAIBER 202 Flnanclal Revlèw The financ1 results for charitys trading company. Swalbvmgst Miners, Welf8rè Social Club Mrted, for 2023 were disappointing due to a decline in sales of over £44k. Thi5 Was onty slrghtly offset by a rise in margins which left gross profrt ftorn trading activth'es by nearfy £20k114.8%1. Other irwme from members actmties Vfds £10,795 do on tho previou5 year by 17% whith was disappointing. The previou5 years incorn* was buoyed by the fina business support grant from the Governmenl. No such grants were receNed in 2023. The costs of Ihe running the dub decreased from £134,904 to £131,662 in 2023. This was a sat'sfactory resuh espècrally a5 the previous year incIjed a significant wrrte off of lighting and heating (x)sls lollowng an appeal to the Ombudsman. The cost of repairs and maintenanTr falling on the comp8ny fell consideratly this year. The overall net result was a defLit for th8 year of £8.838. As such th8 company was unable to pay anythin9 to the charty through its obligations under the deed of gift aid cornpar8d to £13,321 in the prior year. Thus the total income coming from the club in the year wa5 just £3,(M)O CQTnpiising the Ocwpational Licen. The charity was able to receive incorna from indoor games, subscriptions and room hire of £6.226 Idown 17Q/•l. Income from the use of the Icx)tball piteJ)es was £11.435 and there has been major works in adding to number ol pitd)es lch will hopefully lead to a rise in this inwme as the lacilrty accornodates more teams. Investment income brought in a further £361 and the portfolio made invèstment gains of £371 compared to a bss of £4.fX19 in the prev$ year. The charity received a compensation payment of £15,CM)O lor damage to the western boundary hedge$ caused by a new housing development. The charrtl$ overhead costs INNDR. water. Insuran and repairs and rna1ntenan of £25,017 %%Ere higher than last year due to a signfficantly increased spènd on repairs and maintenence of £16,729 up by £11.448 on the prevK)us year. A major one off expense was £24,000 in creatirKJ additional football pitches. Depreciation of £4,090 was chargeae in the year. Governan(x costs comprising accountancy fees and bank charge5 remaine(J similar at £1,773. Overall the charity finished the year with an operational loss of £17,785 although this wès then redu¢ed by net investsnenl gain5 of £371 oiviro an over811105s of £17.414. Given this included a £24.(M)O Snd on football pttches and significant repairs and renewals the trustees are satIsfd with this resutt. The balance sheet weakenéd following the losse5 incurred in the year. The vast majority of the portfolio of investrnents were disposed of during the year and converted into cash. As a restjtt of this and cash derived from a loan from CISWO <2sh asset5 Increased from £50,142 to £85,299. Creditors fell by £8,438 to £37,118 induding amounts due to the swal dub of £26.(3. loan from the Yorkshire Miners Welfare Trust Fund was practically cleared wlh only a balat)Tr 01 £600 remaining which was deared in aarly 2024. A 108n trom CISWO of £24,0 was provided to the Scheme lo as515t with improvements to the rErreth"onal pitches induding fenang. This loan is interest free and is repayable over a five year period. Net current assets were £48,181. The land, buildings and equipment are carried in thè balan Sheet at a nèt book valu8 of £133,851 The trustees believe the market value of the propety is considerably higher atthough w valuation has been carried out and In any event the rnarket value is irnmaterial 8s the land buildings arè used as the functional property of the charity not as nveslment property. 2024 looks to ba a challenging year as costs wll need to be cut but vAth Tr) m4or exnditre plans on projects in the iipdine for 2024 it 15 hoped that the balance sheet will strengtken. Continued... 1b
ALLOWNE RE INSTITUT AND REC EATION G ND REPORT OF THE TRUSTE CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Revlew of Actlvldes The mn actfvty of the charity is to yovide Institute and Recreati(y) G¥ound 18ry1ities for the communty of Swallownest Membership ol the tharity and the use of the facilibes is open to anyone in Ihe ¢ommunty r( serves. 1. Foolbèll Thè charity ha5 8 very wdl maintained football ground. 11 is used by a variety ol teams and the trustees are very keen to expand junior aThl girfs footrjall. In 2024 they plan to increasè the number of tcheS available to the ctsmrnunity and in ihe longer temi the trustees are very hopeful that with the support of CISWO the develcpmenl of an artifi¢ial Surf wll be poss¢Ne. 2. Pffgeon Club The swallost Pigeon Club secm sfjll Drks ofthe Welfare faalths. 3. Other groups th8t frequenuy use the Sch8mè are n(Mm8lly the following afthough because or the pandemic everything was pul on IK4d. Snooker Singlès and Double5 team matches are played wkly Darts teams Varty ol kxal cwimunty groLEPS 4. Functions tl)81 take plaG8 on Ihe Schemes grounds 8nd furtherafield are as fowows... The local sch1{SI use the grourKls lo hold their srths days and ottw events. Investment PolÈ¢y At the stsrt of the year the chanty held an investrnent portfolio of over £38k. This was sold during the year an(J the intention ol the Trustees is to channel the proceeds into an improved interest bearin9 aco)unt Reserve5 Polley It is the poli of the trustees to m8intsln unfestri¢ted funds whth are the free SerVeS ofthe charity, * a level to provide sufficient funds to cover antiapaled administration and support costs. This iÉcognises that the Institute building is old and needs substanthal expenditu to keep rt and the grounds maintained to a high standard. Rl$k Managemwrt The trustè•s are avrdrè of the oper8b.onal and finantsal risks which Ihe charty faces regulady rewewE those risks to mth.gate agatnst any impact thèy may hav8 on the tharty. Continued... 1c
SWA OWN AM MINE ' WELF RE INSTIT TE AND EATI OUND REPORT FTHETR STEES coKriNUED FOR THE YEAR ENDED 31 DEC ER 2023 Statement of Truste, ResponsIbil188 Law applicab to charities in England and Wales requires the trustees to prepare financial stataments lor each financi81 year whid) give a true and fair view of the charitys financial ad1Vrties durirKJ the year and of rt5 finanryal posrtion at Ihe er ol the yar. In preparing finanaal statements giviry a true and fair view, the tw#ees should fdhw best practice and.. select suitable a(tountirvJ poliaes and then appty them consistently.. observe the methojs and principles in the chare5 SORP.. makejudgaments and estirn8tès that are reasonable and prudent., stste thethor applicable accoun"ng standards have bèen followed SLknject to any material deFdrtures disclosed and explained In the financial statements., prepare ihe financial $18tement$ on the going concem basis unless it is inappropriate to presume that the charity wll cOntrn sn operation. The tNstees are also responsible fr)r keeping proper acc(yffiting records which disclose wth reasonable accuracy at any b.me the finanaal position of the charty and which enable them to ascertain the financial pos0 ol the charty and to ensure that the financi81 statements eomply with the Charit$ Act 2006. They are a150 responsible for safeguarding the ass$ of the d)arity and hence lor takirb9 reaSonae step$ forthe preventh)n ol fraud other irregLdarities. Thè Boar(l of Trustw wsh to record their thanks to all the stsff ol both charity and the company for the work that they in keeping the welfare dean and toMIng for all the usèrs frorn the k)cal communty. They would vAsh to ce on record their Ihanks to the SeCretaryreasUrer of the company MT. Glènn Watts for the tremendous work that he has (k)ne frorn 2016 to date in keepiro the company going in the face ol the difficutties caused by the fire and the pandemic. Thanks also to the work of Mr. Peter Overton as director who has SUPKK)rted Glenn In end88vours and to Elaine and her team of bar Staff wtrm) have done a brilliant Job. The Trustees welcome the appointment of Tcry Santoro as addrtional dKed6r the txmpany at th¢ end of 2023. Gknn Watts, Trustee D818d'. 23 q.L 1¢J
INDEPENDEr EXAMINER, REPORT TO THE TRUSTEES OF WALLOWNE T HAMLET MIN WELFA INSTITUTE AND RECREATIO ROLIND I report to thè Trustees on my examination of the 8ccounts oftha above named d)arty (registered no. 5234731 for the year 8nded 31 Drnbar 2023 1¢h are Set out on pages 3 to11. R•s onslbilitie¥ and basls of re As the charity trustees you are responsitAe for the pyjaration ol the accounts In acLJ)rdance the requirements ofthe Charty'es Act 2011 lthe Acti. I report in respect of my eK8rninth"on of the Trusteas, accounts rarried out under sects.on 145 ofthe 2011 Act and in carying out my examinaknon I have follod all the appIlble directions given by the Chaf Comrnission under seclion 14515llbl of the 2011 Act. Ind ndent Examlner'g tstement I have completed my examnation. I wnfim that no rnatwlal matters have come to my attentiC in conneLion with the examination giving rne cause to believe that in any materi81 respectr. 111 accounb'ng records were not kept in respect of thè Charity as roquired by se("on 130 of the A(,. or 121 the accounts do not accord with those rewrds", or 131 the ac(x)unts do not comply wth the applicable accounting requirernents ConmIng the fomi and content of accounts sel out in the Charity'es (Accounts and RetK)rtsl Regulations 2008 other than any requirement that the accounts givè a'lnje and fairvEW' %thich is not a Matter wnsidered as part of an independent examination. I have no cOnM3 and have come acrtsss no other mattèrs in connection the examination to attenth.on should be dra¥w in this report in order lo enable a proper understsnding of the account5 to be reathed. J Wallage FCA On behalf of CISWO rading) Ltd The Old Rectory Rectory Drive Whiston Rotherh8 South Yorkshire S60 4JG Date
SWALLOWNE T HAML NER LFARE INSTITUTE AND RECREATION GROUND ST MENT OF FOR THE YEAR END NANCIAL ACTIVITIES CEMBER 2023 Total Funds 2022 Total Funds Unytstrfcted Fund Restricted Fund RESOURCES AR SING Swaljownest Miners Welfare Sodal Club Limrted (Note 31 Snooker, subs and rooffl hir Ground income Option leè Compensation payment Other H)come Deposit and inveslm$nt income 16.321 7.507 12,540 12,000 8,226 11.435 6,226 11,435 15,OCrf) 140 361 15,0 140 1,638 1.277 GROSS RESOURCES ARISING IN YEAR 36,162 37,439 RESOURCES USED Direct Charitablè Expenditure Inote 41 Govemance (notè 51 28.394 1,773 25,057 53,451 1,773 22,538 1,781 RESOURCES USED IN YEAR CHANGES IN RESOURCES BEFORE TRANSFERS AND VALUATIONS Transfers Nel InVestnnI GalnllLossl 123.7801 117,7851 25,185 371 371 14.0091 NET MOVEMENT IN RESOURCES IN YEAR 23.409 17.414 21.176
SWA EST MINERS. WELFARE INSTrrLrrE AND RECREATION UND BALANCE SHEET AS AT 31 DECEMBER 2023 202 Flx•d Assets Tangible fixed 8ss8ts Investsments 133,851 278 137,941 38,197 134,129 176.138 CurrentAss•ts Cash at bank and in hand 85,299 ,142 Current Uabllttles Creditors.. amounts falling due wthin one yea Other creditors Yorkshire Miners Welfaf• Trust ciswo Amounts duè to Sbrdllownèst Miners Welf8re SOCA Club 13.4551 16(MJl 1S,OWI 15.426) 16.0001 128.0631 134,1301 137,1181 145,5561 Net Current A8sèts 48,181 Long Term Liabllltles Creditors.. am¢)unts falling due after one year ciswo 119.(X)01 Totsl Net As¥ets 163,310 180,724 Functional Endowment Fund Restri¢t6d Fund Unrestn'cted Fun(Js 811 2.241 52.603 108,486 2,241 76,012 102,471 Totsl Funds 163.310 180.724 Thèse fi Isg.z* Ci815tstements approved on .................... . J warr£ Sign•d- TruBt Print Name- Trustee
SWALL0174EST AML ' WARE INSMT AND RECREATION GROUND ONCI ATI END N OF FUNDS 1 DECEMBER 20rJ FOR TH 2023 Total Funds 2022 Total Funds Unrestrkted Endov•Thent Fund Fund Restrict•d FuThl Balance brought for¥rdrd 1 January 2023 102,471 2.241 78,012 180,724 159.548 Net movement of resourcgs in year {23.4091 117.4141 21,176 Bal?ne• earrfed forward 31 Deember 2023 108.466 2.241 s2.3 163.310 180 724 Tanble fixed assets Investments Debtors Cash at bank and in hand Cuffent lyabilities Lon9 tsm) liat4'1ities". Loans 122.(rds 2,241 9,515 278 133.851 278 137,941 38,197 42,489 137.1181 119.0001 42,810 85,299 137,1181 119,0001 50.142 145.5561 Totsl net aB¥èts 31 Dècember 2023 108,4e6 2,241 52,603 163,310 180.724
SWALLOWNEST HAMLET MINERS, WELFARE IN TIT RECR N GROUND NOTES TO THE ACCOUNTS- 31 DECEMBER 2023 1. ACCO TING POLICIES (al Basi of Accountsn These accovnls have been prepafed In accordance wfth the recL)mmendations ofthe Ch¥ri*es SORP. Depreciation is piovided on all assets other Ihan freehold land and aims to write off the cost of the assets over their estlm8ted useful lives on a reduung balancè basis. The rat85 applied are as follow5.. Buildings Fixiures & Fittings Equipment 2Vo 10VD Stock is valued at the l¢M8r of cost or nel r8alisable value. Cost is Invoice price to the Miners. Welfare Scheffle with no addition for overhead expenses. Expenditure is written off in the period in which it Is incurred. 2. FIXED ASSETS Fixtures & Bulldln Land Flttln Totsl Cost At1.1.23 Additsons Disposals 8.180 22S,384 78.693 31,042 341,299 Al 31.12.23 6,180 225,384 78.693 341,299 De reciation At1.1.23 Charge for year Disposals 109,056 2,327 65,462 1,323 28.840 440 203,358 4,090 At 31.12.23 29,280 NetBookV I è 31.12.23 114,001 11,908 133,851 31.12.22 6.180 13,231 2.202 137,941
SYIALLObVNEST HAMLET MINER¥ WELFARE INSTITUTE AND RE ROUND NOTES TO THE ACCOUlS- 31 DECEMBER 23 Contlnued 2022 3 INC ME FROM SWA OWNEST WELFARE SOCIAL CLU8 LIED INE Occupational Li¢8nce Deed of Gift-Aid 3.0(K) 13.321 3.000 16.321 2023 2022 4. DIRECT CHARABLE ExpENL)URE Institute OV8rhead expenses Generdl repairs and mainten8rtè- grounds and buildings New pitchgs General ratos and watsr charges Insurance 16,729 24.( 5,281 4.928 5.209 5,322 49,017 15,418 Stici81 and recre8tion81 Children's Christrnas party. indoor games aThJ pKj8c dub Donations 618 176 618 Other Legal fees Depreaation 2,107 4,395 4,09) 4,0 6.502 Total DSrect Charltable Expendllur• 53,4S1 2023 2022 S. GOVERNANCE COS Bank interest and charges B¢okaeping and 8cwuntar IndepeThJènt Examinab"on by CISWO Total Management and Athilnlstration 37 1.202 534 81 1,202 518 1,773 1,781
SWALL NE T HAMLET MINERS. WELFARE IM TES TO THE ACCOUNTS- 31 OECEMBER 2023 Contin INVESTMENT Old MLrtual Portlollo Market Value bff as al 1 January 2023 Add.. Nel Income and gains 2023 Add'.Capital Sums addtrd lo portfolio 38.197 39,845 39.567 Less.. Capi1818um3 withdr8wn from porttol Market value of portfolio as at 31 December 2023 278 2023 REDITORS Due within one other accruals Ground rentals paid in advance - Ygrkshire Miners Weffaie Trust Loan - CISWO Loan Oth8r creditors - Amount due lo Swallownèst Minars Welfare Social Club Ltd 2.254 1,201 6CK) S,0(7 1,720 1.100 6,000 2,806 34,130 28.063 37.118 45.556 Due after one - CISWO Loan ear.. 19.000 FUNDS 11 Endovmient Fund The function81 endowrnent of the Scheme is as lollows.. Oriqinal Functional Endowments". Conveyance dated S November 1928 Addon rè Part Proceeds of Sak of Land.. Conveyance dated 11 October 1972 Agreed expendlture by Chaty Commissioners on Caf Park 12 April 1973 2.350 1.200 IsY)01 300 Releaseil to unrestiicted funds on expiry of endowment 13001 2.350 11091 L•ss". historic cost of land sold in 1993 2.241
SWALLOWP4E AhlL AIINERS. CREATION GROUND NOTES TO THE ACC S-31 DECEMBER ntln FUNDS continued icted Fund Sale of functional endowment Addition re Sale of Land." Sale of2,1KX) sq. rn8t8rs of Land to Sheffield Dicrsan Board of FInae (to build a Churchl conveyan dated 30 April 1993 Add.. Net Investsllent Realised gain on Sterling portfolio li]UdIng income reinvested on accurnulation basisl. Add.. Inveslrnerbt Gains on Old MutuallQuitsr Portft)lio up to 2022 29,485 16.609 136,094 Less" Expenditure in pwior years apwoved by CISWO ¢)Jt ol restricted fund Rèpairs and rnaintenance Dtrpraaation on capital assets acquired thFough reskted fund Value of fèstricted lund as at 1st January 2022 Add.. Inve51rnent 9ainslllossesl and income on Old Mutual Portfolio 2023 -39,373 -20,709 78.012 77,660 2023 Repairs and maintenance approved by CSSWO c#rt of re5thd8d fvnd 2023 Deweciaion on catal assets acqi¥red through restricted fvnd .24,0 -1.057 52.603 The Ord81 by the Charity CornmissN)ners dated 12 April 1973 stipulated that the £31J) rernaining from the s of land should be placed in a separate account to be inv8stÉd for thirty years on an accurnulati¢)n b8sis. This money consequ8nlly tnvÈst6d in The Charities Offioal Investment Fd by purchasing 171.19 Accumulath"on Shares. The net investment gain has been added to the value ol fund 8s at 31 December 2010. The 30 year period has oxpir•d and during 2011 the COIF )l(ling has been disposed. The endowment at the date of trsfer w8$ £t3.8rx) and was transferred to the unreslrtted fund. £).lKjo from the Sale of Land in 1993 has teen invested in a succession of portfohos managed by Sterliro, Skandi8. Old Mutual and Quiker. Drawdowns from the porttolio have been made to pay lor repairs and maintenance to the buildings and to acquire capital assets Ifixtureslfrttirosl. This sale of functional endowment is governed by the chantys conststubon whereby all the proceeds ol sale of property requirè thè eonsènt ol the Coal Industry Sooal Wetfare Organisation to be ub"li5ed. These funds are hdd by the Trustees of Swdllowne5t bLrt Ltnder the order of the OrganisatM)n and any applilit)n for their use must be approved by the Organisats"on. In 2023 expenditure on new pitches was apwoved as a charge against the restrKted lund. eted Fund Unrestr¢t funds are held to lurther the obpcb.ves of the Charity as set OLrt in Ihe annual reF()rt.
WALLOWNEST HAMLET MINERS. WELFARE IN8TrruTE OTES cc - 31 DECEMBER 2023 Continued CASHICASH E UIVALENT 2022 Current Account Royal Bank ol ScoU8nd 5.180 Preferential Deposit Account Royal Bank of Scouand 80.139 44.778 85,299 50.142 10
SWALLOWNEST HAMLET MINERS. WELFARE INSMTUTE LEGAL AND ADMINISTRATIVE DETAILS 2023 Tntstee G Watts T Santoro P Overton D Manship G Watts Inde ndent Examiner J Wallag8. FCA Add Swallownest Miners, Welfare Scheme Roth8rh8m Road Swallownesl Sheffiek Ban The Royal Bank of Scolland pk Drummond House IFXI Branch Customer SeIce Cenlre Drummond House 1 Redheu9h5 Avenuè Edinburgh EH12 9JN SolScitors Freeths Fifth Floor, 3 St. Paufs Place. 129 Norfolk Stre sheffld Re Istered Cha Number 523473 ulatlo 1) Principal Indenture dated 10 June 1924 2) ConfimMtory Conveyance of11) above dated S November 1928 31 Charty CommissK)n Schamo dated 3rd May 2rh)5