## **North Stainley Sport & Recreation Trust** 

Registered Charity Number 700686 (an unincorporated charity) 

## **Annual Report and Financial Statements** 

**for the year ended 31[st] March 2023** 

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## **North Stainley Sport & Recreation Trust Annual Report and Financial Statements for the year ended 31[st] March 2023** 

|**Contents**|**Page**|
|---|---|
|Reference and Administrative Details|3|
|Trustees' Report|4 to 6|
|Independent Examiner's Report|7|
|Income and Expenditure Statement|8|
|Balance Sheet|9|
|Notes to the Financial Statements|10 to 12|
|Appendix||
|Detailed Income and Expenditure Account|13|



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## **North Stainley Sport & Recreation Trust Reference and Administrative Details** 

**Officers & Trustees:** Chairman Frank Bailey elected Secretary Glenys Bailey nominated by the Parish Council Treasurer Ian Hillary elected **Trustees:** Andy Maisey elected John Chambers elected Sarah McGavin elected Steve Tordoff elected Dewi Winkle appointed by the Cricket Club Louise Wallen appointed by the Primary School Sally Gabriel appointed by the Church Council Mike Porter nominated by the Parish Council (December 2022) Vacancy nominated by the Parish Council Kia Mathieson retired August 2022 Ian Alston retired October 2022 Gillian Hall retired November 2022 **Registered** 700686 **Charity Number: Registered** North Stainley Village Hall **Charity** The Square **Address:** North Stainley North Yorkshire HG4 3JT **Bankers:** Virgin Money 21 James Street Harrogate North Yorkshire HG1 1QU **Independent** Sarah Lynch **Examiner:** Retired Detective Constable, North Yorkshire Police 

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## **North Stainley Sport & Recreation Trust Trustees’ Report for the year ended 31[st] March 2023** 

The trustees present their Annual Report and Financial Statements of North Stainley Sport & Recreation Trust (The Trust) for the year ended 31[st] March 2023. 

The accounts comply with the Charities Act 2011, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015. 

## **GOVERNANCE, STRUCTURE AND MANAGEMENT** 

The charity is managed in accordance with its governing document, the Scheme, dated 4th December 2000. 

The management of The Trust is the responsibility of the 12 Trustees, who are elected at the annual general meeting (6) or if required co-opted during the year under the terms of the Scheme, appointed by North Stainley Cricket Club (1), North Stainley Church Council (1) & North Stainley CE Primary School (1) and finally nominated by the North Stainley with Sleningford Parish Council (3) for a period of 4 years. 

The Trust will implement a new Scheme, formerly approved on 1[st] November 2022, at the next Annual General Meeting. Under the new Scheme a Board of Trustees, 7 of whom are elected, and 5 of whom are appointed by North Stainley Cricket Club (1), North Stainley Church Council (1) & North Stainley CE Primary School (1), North Stainley Estate (1) and North Stainley with Sleningford Parish Council (1) will manage the Trust. 

The Trust currently has 11 Trustees, with 1 vacancy. The Trustees are recruited by way of their wide range of expertise to enhance the decision making of the Trust. 

The Trustees hold at least 4 ordinary meetings in each year (normal practice is 10-12 meetings) to discuss & agree the strategic direction of the charity and to monitor progress both financially and in terms of successful delivery of its objects. 

## **OBJECTIVES** 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit and in particular to its supplementary public benefit guidance. 

The object of the charity is, in the interests of social welfare, the provision and maintenance of a village hall and recreation grounds for use by the   inhabitants of the area of benefit without distinction of political, religious, or other opinions. The area of benefit is North Stainley with Sleningford and the surrounding neighbourhood. 

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## **North Stainley Sport & Recreation Trust Trustees’ Report for the year ended 31[st] March 2023** 

In furtherance of these objects, the charity also organises and subsidises events and groups throughout the year. 

## **FINANCIAL REVIEW** 

The charity showed a net loss of £3,156 from the day to day running of the Trust, and further one-time expenditures of £45,034 including investments in the village assets £13,839, the Platinum Jubilee celebrations £8,691 and £21,837 in maintenance activities. 

The two main sources of funding are the hire of the Village Hall facilities and rental income from the four flats situated above the Village Hall. 

The Trustees are content that the Charity is operating on a stable level managing cash reserves whilst providing a valuable facility to the local residents. The policy regarding reserves is to retain sufficient reserves to meet the future maintenance costs of the Village Hall, Village Square, Jubilee Garden and Recreation Ground. 

The Trustees therefore have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. 

The Trust are looking to increase income and subsequently grants and investment in the local community. 

## **STATEMENT TRUSTEES' RESPONSIBILITIES** 

The Trustees are responsible for preparing the Trustees' Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. 

In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgments and accounting estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

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## **North Stainley Sport & Recreation Trust Trustees’ Report for the year ended 31[st] March 2023** 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

This report was approved by the Trustees on 2[nd] May 2023 and signed on their behalf by: 

## _Ian Hillary_ 

**Ian D Hillary Treasurer & Trustee** 

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## **North Stainley Sport & Recreation Trust Independent Examiner’s Report for the year ended 31[st] March 2023** 

I report to the Trustees on my examination of the accounts of the above charity (“the Trust) (registered number 700686) for the year ended 31[st] March 2023, set out on pages 8 to 13. 

## **Responsibilities and basis of report** 

As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). 

I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent Examiners Statement** 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect: 

1. the accounting records were not kept in accordance with section 130 of the Act; or 

2. the accounts did not accord with the accounting records; or 

3. the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination 

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 proper understanding of the accounts to be reached. 

## _Sarah Lynch_ 

Sarah Lynch 

Retired Detective Constable, North Yorkshire Police 

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## **North Stainley Sport & Recreation Trust Income and Expenditure Statement for the year ended 31[st] March 2023** 

|**Notes**<br>**INCOME**<br>Flat Rental<br>Hire Income<br>Other Income<br>2<br>Interest Received<br>Gain / (Loss) on Investments<br>**EXPENDITURE**<br>Cleaning<br>Gardening & Maintenance<br>Fees<br>3<br>Grant<br>3<br>Utilities<br>Other<br> <br>**NET INCOME**<br>**BEFORE REVALUATION / (DEPRECIATION)**<br>**REVALUATION / (DEPRECIATION)**<br>Land & Buildings<br>5<br> <br>Fixtures & Fittings<br>5<br> <br> <br> <br>**NET INCOME**<br>|**2023**<br>**£**<br>26,013<br>16,210<br>2,250<br>664<br> (666)<br>**44,471**<br>4,689<br>46,020<br>8,026<br>5,250<br>10,891<br> 17,785<br>(**92,661)**<br>**(48,190)**<br>0<br> 0<br> **0**<br>**(48,190)**|<br> <br> <br> <br> <br> <br> <br> <br> <br> <br> <br> <br> <br>|
|---|---|---|



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## **North Stainley Sport & Recreation Trust Balance Sheet** 

## **as at 31[st] March 2023** 

|**as at 3**|**1st March 2023**|||
|---|---|---|---|
||**Notes**|**2023**|**2022**|
|||**£**|**£**|
|**INVESTMENTS**|4|**74,098**|**106,010**|
|**FIXED ASSET**|5<br>|**1,350,000**|**1,350,000**|
|**CURRENT ASSETS**||||
|Bank||33,307|58,716|
|Debtors|6|1,001|429|
|Prepayments|6<br>|1,860|499|
|||**36,168**|**59,644**|
|**CURRENT LIABILITIES**||||
|Creditors|7|1,532|1,000|
|Accruals|7|4,895|12,626|
|||**(6,427)**|<br>**(13,626)**|
|**NET ASSETS**||**1,453,839**|**1,502,028**|
|**CHARITY FUNDS**|8<br>|**1,453,839**|**1,502,028**|
|Restricted | Square Maintenance||0|2,798|



The financial statements were approved by the Trustees on 10[th] May 2022 and signed on their behalf, by: 

## _Frank Bailey_ 

## _Ian Hillary_ 

## **Frank Bailey Chairman & Trustee** 

## **Ian D Hillary** 

**Treasurer & Trustee** 

The notes on pages 11 to 16 form part of these financial statements. 

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# **North Stainley Sport & Recreation Trust Notes to the Financial Statements for the year ended 31[st] March 2023** 

## **1 ACCOUNTING POLICIES** 

## **1.1 Basis of preparation of financial statements** 

The financial statements have been prepared under the accruals convention in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' published in March 2005 and applicable accounting standards. 

## **1.2 Investments** 

The Trustees have taken a low to medium risk approach in regard to investments, all of which are short to medium term but are not fixed as they can be drawn down following a one week notice period. 

Investments are included at Market Value, with a Gain or Loss on Investment taken to the Income & Expenditure Statement. 

## **1.3 Fixed Assets** 

Fixed Assets valued based on insurance values and are no longer depreciated. The assets are maintained, with additions & enhancements expensed and not capitalised. 

## **1.4 Charity Funds | Unrestricted & Restricted** 

With the exception of Square Maintenance fund, all other funds are unrestricted and available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 

The Square Maintenance fund is restricted. It is contributed to by 12 properties (60%) and the Charity (40%) for excusive maintenance of the Village Square, North Stainley. 

## **1.5 Income** 

Income is accounted for on the accruals accounting principle where the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. 

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 

## **1.6 Expenditure** 

Expenditure is accounted for on the accruals accounting. Where costs cannot be directly attributed to particular activities, they are allocated on a basis consistent with the use of the resources. 

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## **North Stainley Sport & Recreation Trust Notes to the Financial Statements for the year ended 31[st] March 2023** 

|**2.**|**OTHER INCOME **|**2023**|**2022**|
|---|---|---|---|
|||**£**|**£**|
||Donation|400|0|
||Square Maintenance|546|587|
||Vat Reclaim|1,304|0|
|||**2,250**|**587**|
|**3.**|**EXPENDITURE**|**2023**|**2022**|
||includes|**£**|**£**|
||Independent Examination Fee|300|300|
||Grant | North Stainley Cricket Club|3,250|3,243|
||Grant | North Stainley Arts Society|2,000|6,500|
||Grant | Other|380|400|



|During the year and prior year no Trustee received any remuneration, any benefits in kind|During the year and prior year no Trustee received any remuneration, any benefits in kind|During the year and prior year no Trustee received any remuneration, any benefits in kind|During the year and prior year no Trustee received any remuneration, any benefits in kind|
|---|---|---|---|
|nor any contribution to personal|expenses|||
|**4.  INVESTMENTS**||**2023**|**2022**|
|||**£**|**£**|
|CCLA COIF Charities Investment Fund||74,098|74,764|
|Hampshire Trust Bank 3 Year Business Bond||0|31,246|
|||**74,098**|**106,010**|
|**5.  FIXED ASSETS**|||**Valuation**|
||||**£**|
|**Land & Buildings**|brought & carried forward|<br>|1,250,000|
|**Fixtures & Fittings**|brought & carried forward||100,000|
|**Total**|||**1,350,000**|



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## **North Stainley Sport & Recreation Trust Notes to the Financial Statements for the year ended 31[st] March 2023** 

|**6.**|**DEBTORS & PREPAYMENTS**||**2023**|**2022**|
|---|---|---|---|---|
||||**£**|**£**|
||**Debtors**||||
||Square Maintenance||0|165|
||Hire Income||346|265|
||North Stainley Arts Society||655|0|
||||**1,001**|**429**|
||**Prepayments**||||
||Insurance||474|442|
||Licences||250|57|
||Utilities||971|0|
||Website Hosting||165|0|
||||**1,860**|**499**|
|**7.**|**CREDITORS & ACCRUALS**||**2023**|**2022**|
||||**£**|**£**|
||**Creditors**||||
||Deferred Income||1,237|1,000|
||Rental Deposits||200|0|
||Deferred Income||95|0|
||||**1,532**|**1,000**|
||**Accruals**||||
||Independent Examination Fee||300|300|
||Flat Management Fee||800|729|
||Cleaning & Gardening||953|2,076|
||Payroll, tax & national insurance||1,267|47|
||Utilities||1,575|2,974|
||Grant to Parish Council for Playground||0|6,500|
||||**4,895**|**12,626**|
|**8.**|**CHARITY FUNDS**<br>|**Unrestricted**|**Restricted**|**Total**|
|||**£**|<br>**£**|**£**|
||brought forward|1,499,230|2,798|1,502.028|
||income|43,925|546|44,471|
||expenditure|(86,402)|(6,258)|(92,660)|
||allocation|(2,914)|2,914|0|
||carried forward|**1,453,839**|**0**|**1,453,839**|



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## **APPENDIX** 

## **North Stainley Sport & Recreation Trust Detailed Income and Expenditure Statement for the year ended 31[st] March 2023** 

||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|**Income**|||
|Rent Income|26,013|22.825|
|Hire Income|4,260|1,871|
|Hire Income | Cricket Club|3,250|0|
|Hire Income | School|8,700|11,462|
|Donation|400|0|
|Square Maintenance|546|587|
|VAT Reclaim|1,304|0|
|Interest Received|664|643|
|Gain / (Loss) on Investments|(666)|7,789|
||**44,471**|**45,177**|
|**Expenditure**|||
|Cleaning | Village Hall|4,689|4,912|
|Gardening / Maintenance | Village Hall & Ground|21,544|6,341|
|Gardening / Maintenance | Village Square|6,258|250|
|Gardening / Maintenance | Jubilee Garden|17,844|2,886|
|Maintenance | Flats|375|597|
|Fees | Accountant|300|300|
|Fees | Insurance|2,281|1,601|
|Fees | Property Management|2,863|2,187|
|Fees | Non-Domestic Rate|476|243|
|Fees | Other|2,106|423|
|Grant | Cricket Club|3,250|3,243|
|Grant | Play Area|0|6,500|
|Grant | Other|2,380|400|
|Utilities | Electricity, Gas, Water, Waste Management|9,702|8,937|
|Utilities | Phone & Internet|1,189|1,263|
|Sundry | Events|16,665|709|
|Sundry | Other|739|287|
||**(92,661)**|**(41,079)**|
|<br>**Net Income before Revaluation / (Depreciation)**|**(48,190)**|**4,098**|
|Revaluation of Fixed Assets / (Depreciation)|0|504,241|
|**Net Income**|**(48,190)**|**508,339**|



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