REGISTERED CHARITY NUMBER: 523969
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Thurcroft Institute & Recreation Ground
Thurcroft Institute & Recreation Ground
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 |
Thurcroft Institute & Recreation Ground
Report of the Trustees for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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
Objectives and aims
The provision of a recreation ground and welfare institute for the benefit of the inhabitants (and in particular, but not exclusively, such of the said inhabitants as are members of the mining community) of the area of benefit without distinction of political, religious or other opinions with the object of improving the conditions of life for the said inhabitants.
Significant activities
The principal activities of the company as a Charity is the provision of a recreation ground and welfare institute for the benefit of the area without distinction of political, religious or other opinion with the object of improving the conditions of life for the said inhabitants. During the year the charity has overseen the construction of a Local Hub, on the site of the recreational ground. This offers a completely new sports and social venue, providing both changing facilities for the existing sports ground, and additionally providing indoor facilities for community and sporting activities.
FINANCIAL REVIEW
Reserves policy
The charity has maintained a good level of reserves so as to improve the facilities at both the recreation ground and the Institute (Club). Due to the size and age of the Institute the trustees believe it is essential to hold significant reserves so as to meet the cost of repairs and improvements as and when they are necessary.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The governing document of the charity is dated 7th November 2006.
There should be four nominated trustees and two elected trustees. Of the four nominated trustees two shall be appointed by the National Union of Mineworkers (Yorkshire Area) and two shall be appointed by CISWO. The two elected trustees must be appointed at the annual general meeting.
The day to day management is performed by the Secretary, whilst strategic and financial decisions are made by the trustees with input from the Secretary.
Related parties
The Thurcroft Miners Welfare Institute and Recreational Ground Scheme Social Club Limited is required by covenant to pay its annual profits over to this charity.
Risk management
The trustees believe they have addressed one major threat to the charity, of declining local inhabitants with connections to the mining industry by broadening the charities objectives to be inclusive of all local inhabitants. Another risk to the charity is vandalism to the amenities they provide. Over the years significant monies have been spent on trying to protect the facilities from the vandals however vandalism continues to be a significant problem. The trustees plan to continue to address the problem and protect the clubs assets.ce to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
523969
Page 1
Thurcroft Institute & Recreation Ground
Report of the Trustees for the Year Ended 31 March 2023
Principal address Katherine Street Thurcroft Rotherham South Yorkshire S66 9LB
Trustees
Ms C McCartan Mrs C Walker P Shackley
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Ms C McCartan - Trustee
Page 2
Thurcroft Institute & Recreation Ground
Statement of Financial Activities
for the Year Ended 31 March 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 25,213 EXPENDITURE ON Raising funds Raising donations and legacies 2 6,899 6,899 Other 16,029 Total 22,928 NET INCOME/(EXPENDITURE) 2,285 RECONCILIATION OF FUNDS Total funds brought forward 128,762 TOTAL FUNDS CARRIED FORWARD 131,047 |
Restricted fund £ - 13,966 13,966 - 13,966 (13,966) 484,914 470,948 |
2023 Total funds £ 25,213 20,865 20,865 16,029 36,894 (11,681) 613,676 601,995 |
2022 Total funds £ 38,813 23,379 23,379 19,291 42,670 (3,857) 617,533 613,676 |
|---|---|---|---|
The notes form part of these financial statements
Page 3
Thurcroft Institute & Recreation Ground
Balance Sheet
31 March 2023
| Notes FIXED ASSETS Tangible assets 4 CURRENT ASSETS Debtors 5 Cash at bank and in hand CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
2023 £ 504,165 36,964 61,787 98,751 (921) 97,830 601,995 601,995 131,047 470,948 601,995 |
2022 £ 522,591 32,363 53,943 86,306 4,779 91,085 613,676 613,676 128,762 484,914 613,676 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. C McCartan - Trustee
............................................. P Shackley - Trustee
The notes form part of these financial statements
Page 4
Thurcroft Institute & Recreation Ground
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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 cost 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 4% on cost and 2% on cost Plant and machinery - 10% on cost and 5% on cost Fixtures and fittings - 20% on cost and 10% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 5
Thurcroft Institute & Recreation Ground
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
2. RAISING DONATIONS AND LEGACIES
| RAISING DONATIONS AND LEGACIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Support costs | 20,865 | 23,379 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
4. TANGIBLE FIXED ASSETS
| Long leasehold £ COST At 1 April 2022 and 31 March 2023 589,025 DEPRECIATION At 1 April 2022 88,976 Charge for year 12,782 At 31 March 2023 101,758 NET BOOK VALUE At 31 March 2023 487,267 At 31 March 2022 500,049 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors VAT Prepayments and accrued income |
Plant and machinery £ 28,124 23,085 1,218 24,303 3,821 5,039 |
Fixtures and fittings £ 81,320 63,817 4,426 68,243 13,077 17,503 2023 £ 24,724 12,227 13 36,964 |
Totals £ 698,469 175,878 18,426 194,304 504,165 522,591 2022 £ 21,137 11,213 13 32,363 |
|
|---|---|---|---|---|
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
continued...
Page 6
Thurcroft Institute & Recreation Ground
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 7. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted fund £ Fixed assets 32,209 Current assets 99,759 Current liabilities (921) 131,047 8. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Restricted fund £ 471,956 (1,008) - 470,948 At 1/4/22 £ 128,762 484,914 613,676 Incoming resources £ 25,213 - 25,213 |
2023 2022 £ £ 1 (7,224) 920 2,445 921 (4,779) 2023 2022 Total Total funds funds £ £ 504,165 522,591 98,751 86,306 (921) 4,779 601,995 613,676 Net movement At in funds 31/3/23 £ £ 2,285 131,047 (13,966) 470,948 (11,681) 601,995 Resources Movement expended in funds £ £ (22,928) 2,285 (13,966) (13,966) (36,894) (11,681) |
|---|---|---|
continued...
Page 7
Thurcroft Institute & Recreation Ground
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
At 1/4/21 £ 118,534 498,999 617,533 |
Net movement in funds £ 10,228 (14,085) (3,857) |
At 31/3/22 £ 128,762 484,914 613,676 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
|---|---|---|---|
| General fund | 38,813 | (28,585) | 10,228 |
| Restricted funds | |||
| Restricted fund | - | (14,085) | (14,085) |
| TOTAL FUNDS | 38,813 | (42,670) | (3,857) |
9. RELATED PARTY DISCLOSURES
Thurcroft Miners Welfare Institute and Recreation Ground Scheme Social Club Limited, a company registered in England and Wales is a trading entity of the charity and during the year rent of £0 was received (2022 - £0). At the year end the club owed the charity £24,724 (2022 - £28,360 ).
Page 8
Thurcroft Institute & Recreation Ground
| INCOME AND ENDOWMENTS Donations and legacies Income from activities Grants Total incoming resources EXPENDITURE Other Rates, water & electric Insurance Costs of hub activities Repairs & maintenance Support costs Management Telephone Finance Light and heat Plant and machinery Other Bank charges Governance costs Accountancy and legal fees Total resources expended Net expenditure |
Detailed Statement of Financial Activities for the Year Ended 31 March 2023 2023 2022 £ £ 24,108 23,396 1,105 15,417 25,213 38,813 25,213 38,813 951 2,196 7,027 4,748 2,313 932 5,738 11,415 16,029 19,291 864 843 - 105 18,427 21,498 18,427 21,603 104 98 1,470 835 36,894 42,670 (11,681) (3,857) |
|---|---|
This page does not form part of the statutory financial statements
Page 9