THE OXCROFT RECREATION GROUND AND WELFARE INSTITUTE R¢gi5ter8d Charity No. 525164 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE OXCRoFf RECREATION GROUND AND WELFARE IN REPORT AND FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 DEX CONTENTS PAGE Legal and Adminislratsve Detsils Trust998' Report Ind8pendent Examinerfs Report Stalomenl ot Financial Activities Balance Sheet Note8 to th& Finan¢ial Statements
E OXCR CREAn N GROUND AND WELFARE INSTITUTE L AND ADMINISTrATIVE DETAILS REGISTERED NUMBER.. 525164 TRUSTEE.. Old Bolsover Town Councll Town Hall Cotton stet Bolsover Cheslèrfjeld S44 6HA SCHEME ADDRESS.. 55 Clowne Road Stanfre¢ Chesterfield Derbyshire S44 6AG BANKERS '. Co-operatNe Bank plc POBox101 1 Balloon Street Manchesler M60 4EP INOEPENDENT EXAMINER.. J Wallage FCA CISWO (Trading) Ltd The Old Rectory Rectory Drive Whislon ROTHERHAM S60 4JG
THE XcRo RECRE TION GROUND AND WELFARE INSTITUTE REPORT OF THE TRUSTEES FOR THE YEAR END 1 MARCH 2 The trustees present their report along wilh the finan¢lal slalements olthe charity for the year ended 31 March 2024. The financial slalements have been prepared in accordanee wlh accounting pollcies sel out in Note 1 to the account$ which can be found on page 7 and compty with the charities trust deed, applicable law and the Chariti8s SORP FRS 102. Constitution. Objectlv•s and Activltle$ for th• Publlc Bonafit The Charity is constituted by a scheme dated 6 March 1973 and a lease and Trust Deed dated 4 May 11. Its objectives are to provide a recreallon ground and Welfa institute providing leisure trme adTVities to improve Ihe lives of those liwng in the parish of Bolsover in Derbyshire and the surrounding area. Tho trustees have refeffed Its the guidance given by th• Charity Commis$lon on public benefrt when revrthwng thè Charity's aims and otiectives and detsils of the achvffjes that have taken place during the year can be found later in thi$ report. Oryanisational Structure The trustees who have served the ¢harity during the year are shown on page 1. The charity is r8$pon8ible for rnaintslnlng the premi$e8 and its cont•nts and grounds in a suitable state of pair for use by those who live in the surrounding area. It raises income through variou$ tharitable activiti9$, the main one being the hiring out of its facilities to thé general public. bul a substantial amount of its incomg Comes from rts connected trading company, Oxcroft Ictsrnpany number 107687991, which pay3 an annual 0UpatiOnal licen¢e fee lo the charity in order to run Trt8 business from the charitys premises. In addition to this, the company also transfers any proffts il makes lo the charity under a Gift Aid agr8ement $0 the trustees work closdy the company's directors lo try and ensur& the company is profrtable, thus ensuring extra income for thg d)arity. Flnancial Revlew The charity had nel expenditure of £19,734 for the year as opposed to £26,082 in the previous year and. although this is an improvement, still a cause foi concern. The conne¢ted tradin9 company showed a lo$$ for the year so was unable lo make a transfer lo thè charity under gift aid. As a result of thi8 and th coslg continuing to rise, the company directOTS made the decision to wind up the company after the year end. The debt due from the social club (See note 31 is fe¢overable in fvll. Revlaw of A¢tlvltie5 During the year the trustees were pleased lo On again be able to hold the usual sporting activ05, ho81 meefjng8 and private lun¢tions and s%Elcome mernbers of the public to th¢ Centre for meals and breakfast dub3. The tmstees are disappointed that the trading company had to dose after the year end bul they remaln pragmatic about the charity's fulufe and they are seeking allemalive ways in which the facilities Can put to good use for the local community. Continued...
OXCR T RECREATION GROUND ANO WELFARE INSTITUTE REPORT F THETRU FOR THE YEAR ENDED 31 MARCH 2024 CONTINUED Investment Pollcy Thère is no investment policy in place as such as the Iruslees feel that th¢ charity does not hold sufficient funds lo cOnser investment al this time. Rg3erves Pollcy It is the policy of the tnjsteès lo mainlaln unreskn'¢ted fijnds which are the free reserves of the charity. al a level lo provide sufflclénl funds to cover anlpcipated administration and support costs for 8 period of 12 months. Any additional reserva$ are held to provlde a capital fun¢1 for repairs thal will be required for th¥ upkeep of the pmises. Rlsk Manaym•nt The trustees are aware of the operatlon818nd flnanclal iisks which the charfty faces and regularty reviews those risks to mltigale against any Impact they may have on the charity. The closure of the social club which provided funding to th8 charty, clearly represents a challenge for trustees. The trsjstees are currenuy wong wllh the local community lo seek allemative uses to g*nerate incom8 and rnainlain the community fa¢ilit8. Statèment of Trust•es' Responsiblllties Law applicable to charitie5 in England and Wales required Ihe trustees lo prepare financial stslernents for each flnancial year whlch give a true and fair view of the charity and of the Incoming resources and application of resources of the charfty for that period. In prèparing those Ilnancial statements. the Iruslees are required to.. select suitable accounlrng policie$ and then apply tham ¢onsistenUy', observe the mèthods and principles in Ihe Charibes SORP., make judgements and eslrmales that are re850nable and pwdent- - stsle whether applicable accountlng standards have been followed subi?ct lo any material departures disclosed and explained in the fin8nrAal statements., prepare Ihe financial statements on the going concern basis Un$$ il is inappropriate to pr8sume that the charty wll continue in operation. Thg Iruslees are also responsible lor keeping prOr accounting recorils which disclose vAlh reasonable accufacy at any time the financial posilion of the ¢harity and which enable them to ensure that the financial Slatements comply with the Charities Act 2011. They are also responsible for safegUardg the 8s$ets of the charity and hence for taking reasonablo Steps for the prevention of fraud and other irfegularities. /J /fr Signed- Trustee lon behalf of Old Bolsover Town Counci Print Narne- Trustee lon behalf of Old 8olsovor Town Counctii 10 January 2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OXCR FT RECREATION ROUND AND WELF UTE I report lo the Trustees on my &xarnination of th8 accounts of Ihe above named charity Iregistered no. 525164) for thè year ended 31 March 2024 which are set out on pages 5 10 9. Res onslbllltlfrs an ofre ort As the charity trustees you are responsible for the pr6paralion of the accounts In a¢cord8nce with the requirements of the Charitoos Act 2011 {the Acti. I report in respect ol my examination of the Trustees, 8c¢ounts carried out under section 145 01 the 2011 Act and in carrying out my examination I have followed all the applicable directions given by tha Charity Cornmission under section 14515llbl of the 2011 Act. Inde èndent Examiner's Statom8nt I have completed my examination. I confimi that no mater1 matters have come to my attention connection with the examination giving me cause to believe that in any malerial respect." 11} accounting records were not kept in respect of the Charity 85 required by section 130 of Ihe Act. or {21 the accounts do not accord with thosè records., or 131 the accounts do not ¢ornply wrth the applicable accounting requiiemenls concerning the fomi and content gf accounts set out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that thè 8¢¢OUnts give a'lrue And fair V. which is not a rnatter considered as part of an independent examination. I have no concems and have corne across no other matters in connection with the examination to which attention shoyld be drawn in this raport in order to enable a proper understanding of the 8ccounts to be rèa¢th&d. 10 January 2025 J Wallage FCA On behalf ol CISWO ITradingl Ltd The Old Rectory Rectory DrNe Whiston Rotherham South Yorkshlre S60 4JG
E OXCR FT RECREATION GROUND AND WELFARE INSTrruTE STATEMENT OF FINANCIAL ACTVdlTIES FOR HE YEAR DED 31 MARCH 2024 Unr IldLt8d Boltrid Total 024 Total 2023 ome and ndowments Grants r6eeived Room hire and rental in¢ome Caterin9 income Donations and other income Occupational licen¢e Gift Aid donation from Oxcroft l¢ompanyl Total Fn¢ome 10.250 2.995 7,S53 5,557 f,500 10,250 2,995 7.553 5,557 1,500 1.650 3,015 9.456 2.449 3,000 1,5C 27,855 21,076 Ex
nditure
Dirg¢1 Charitable Expenditure Catering expenses Stsff costs Light and heat Insurance Repairs, maintenance and Cleaning Rates and water Depreciation Sundry expenses Grant relea$a 6,557 14,573 7,456 1,286 4.935 1,273 9,990 459 16,579) 6,557 14,573 7.456 1,286 4,935 1,273 9.990 459 3,299 13,383 10.456 1,388 5,230 1,880 10,535 112 6.579 39,950 6,579 46,529 46,263 Management and Administrati Telephone and intemel A¢¢ounlancy 461 579 481 579 338 557 Total oxpndltur• 41,010 6,579 47,589 47.158 NET MOVEMENT IN FUNDS 113.1551 16.5791 119,7341 {26.082} Balance bmughl forward 36.418 85.488 121,886 147.968 B¥lan carried foThyard 23.263 78,889 102.152 121,886
THE OXCROFT REC EATION GRO AND WELF RE INSTITUTE BALANCE SHEET AS AT I MARCH 2 2023 TANGIBLE FIXED ASSETS 95.374 105.364 CURRENT ASSETS Debtors and prepayments Cash at bank and in hand 6,135 6,128 8.149 14.058 12.263 22.207 CURRENT UABILITIES Crtrdilors.. Amounts falling due withln one year NET CURRENT ASSETS IS,4851 15.6851 6,778 16.522 TOTAL ASSETS LESS CURRENT LIABILITIES 102,152 121.886 TOTAL NET ASSETS 102.152 121,886 Repmented by: UnTestrd8d Income Fund Re$lricted Income Fund- Grant 23.263 78,889 38,418 85,468 102,152 121,886 Approved by Ihe Trustees and signed on therr behalf by.. Signed- Trustee lon behalf of Old Bolsover Town Counclll Print Narne- Twstee lon behalf of Old 8olsover Town Council) 10 January 202S
THE OXCROFT RECREATION GROUND AND WELFARE INSTIT NOTES TO THE ACCOUNTS OR THE YE ENDED 31 M RCH2 1. ACCOUNTING POL IES al Basls of preparatlon arKI assessment of golng eon¢ern The financial statements have botrn prepared under the historical cost convantitin unless othe8 slated in the relevant notes lo these accounts. The finanaal slalements have been prepared in accordance wth the Statemènt of Recornmended Practice". Accounts'ng and Reporting by Charities IFRS 1021. the Finanaal Reporting Standard IFRS10218nd the Charities Aci 2011. The Iruslees consKlerlhal thera are no material uncertainties abt the chanty$ athlity to continue as a going coneem. The trustees have a reasonable expectation that th& charity has adeqvale seNes to continue in operational existence for the foreseeable future. A¢cordirrfJly the trustees continue to adopt going ¢oncern basis In the preparation of the account$. b) Incomè Re¢ognltlon IncoTne is recognisèd once the charty has entitment to the income, il is probable that the income VAII be reiVed and the amcAJnt of income receae can be measured reliabty. Donations a recognised when they are received. Grants and Capital receipts towards the tand and bulldings have baen credited to a d$ferred income account lo be creditgd lo the reserve accoL*tt by instalments over the useful economic life ol Ihe prortY consistent th the depreciation policy. ¢1 Expendlture Réeognltlon Liabilities ar& recognised as expenditure as soon as there 18 a legal or conthctive 019StIon committing the charity lo th81 expenditure, Il 15 probable that settlement will be required and Ihe amount of the obligation ¢an be measured reliably. Al expenditure is a¢Unted lor on an accruals basis. dl Depreciatlon Depreciatloll 18 eharged on all fixed assets other than freehold land in or¢Jer lo te ofl the cost ol each asset over ils estimatèd useful life. The rates of depreciation applie<l are as follows.. Buildings - 2 5V) Straight line basis Fixtures and frthrys - 20% reduang balan basis Attention is dra lo note 5 of the Wxounls where the grants and other rèceipts are also written off over 40 years.
OXCR FT RECREAnON GROUND AND WELFARE INSTITUTE OTES TO FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED ARCH 202 Flxtures & TANGIBLE O ASSET Land C08t At 1 April 2023 Additions Disposals BOO 312.167 21.756 334,723 At 31 March 2024 800 312,167 21,756 334.723 Al 1 April 2023 Charge for the year Eliminated 218,529 7.804 10,830 2.186 229,359 9.990 At 31 March 2024 226,333 239 349 Net Book Value At 31 March 2024 800 85,834 8,740 95,374 Al 31 March 2023 800 93,838 10,926 105,364 2024 2023 DEBTORS AND PREPAYhlENTS Prepayment$ VAT Balance due from Oxcroft 360 60 5,715 2.171 153 S,825 8.149 CREDITORS- mounts fall e wlthln Trade credrtors Accruals and defeffed cOme Loan- North Derbyshire Miners Wellare Tnjst Fund Other loans Taxes and Sodal Security 1,851 579 543 447 1.566 2,847 482 2,647 408 5,485 5.685
THE OXCROFT RECREATION GR UNDAND ELFARE INSTFTUTE OTES TO THE FINANCIAL ST MENTS TINUED FOR THE YEAR ENDED 31 MARCH 2024 2024 RESTRICTED INCOME CCOUNT Capltal Recelpts and Grants to date Insurance surU8- Fomier Prernises Subsidence Grant Grant- Foundation lor Sport & Art Grant- Eurcpean Regional Developrnent Fund Grant for replacement windows 62.020 45,000 40,000 116,175 13,062 278,2S7 Gr1 Releasad lo Revenuè Account Blfwd Released this Year 190.789 6,579 1197.3681 Net Valuo Carrled Forward at 31 March 2024 78.889