a
Company Registration No: 2323811 (England and Wales)
CROWN AND MANOR CLUB, HOXTON
(A_ COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT & ACCOUNTS
YEAR ENDED 30TH JUNE, 2025 . PAGES FOR FILING WITH REGISTRAR
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CROWN AND MANOR CLUB, HOXTON
REPORT OF THE DIRECTORS
(A_COMPANY LIMITED BY GUARANTEE)
The directors present their annual report together with the financial statements of the company for the year ended 30th June, 2025.
STATUS
The organisation is a charitable company limited by guarantee, incorporated on lst December, 1988 (company number 2323811) and registered as a charity on the 12th January, 1990 (charity number 802614).
The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
PRINCIPAL ACTIVITY
The principal activities of the company during the year continued to be:-
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(1) To provide the facilities for the education and recreation of boys in London, so as to develop their physical, mental and spiritual capacities and that they may grow to full maturity as individuals and members of society and that their conditions of life may be improved, and no significant changes are anticipated.
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(2) To promote any other charitable purposes beneficial to the community and no significant changes are anticipated.
REVIEW OF THE CLUB
;
The reports of the Chairman of the Board and the Club Manager are presented in the annual report.
RESERVE POLICY
The Board considers that the current level of reserves is sufficient to meet the stated objectives of the Charity. The aim is to maintain future levels of income so as to cover the expected levels of expenditure and not therefore deplete reserves.
On 30th June 2016, the directors transferred £1,000,000 from General funds to Designated funds. The funds are designated for projects that either give benefit to the medium and longer term needs of our members or that support the maintenance of our building at Wiltshire Row. This new Designated fund is a specific funding commitment that is to be reviewed annually and controlled by the Board.
The financing of the Designated funds come as a result of the recent redevelopment of the Club’s premises in Wiltshire Row. The proceeds which amounted to £1.7m in total are seen by the Board to have been exceptional in nature and that part of the capital from the redevelopment should be preserved for the longer term benefit of the Club and its members.
As at 30th June, 2025, the directors are in the opinion that the leasehold property is revalued at £600,000 (2024 - £600,000). The valuation is based on rental yields and sales prices achieved in the area, whilst taking into account the current uncertainty in the property market.
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CROWN AND MANOR CLUB, HOXTON
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS
Reserve Policy (cont.)
The directors are of the view that, despite the cladding issues with our building, the Club remains a going concern. Following the Grenfell Tower tragedy in 2017, an assessment was performed during the year ended 30th June, 2020 which identified that the building's cladding may well need to be remediated to meet new safety standards. The Club is now hopeful that satisfactory remediation work will be carried out by the building’s developers, with no requirement for a capital contribution from either the club or the leaseholders (of whom the club is one). Even if this were not to be the case, the directors remain of the opinion that the Club’s current balance sheet is sufficiently strong to absorb any cladding costs which might reasonably be expected to fall on the Club.
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INVESTMENT POLICY
The directors have relied on stockbrokers and investment managers in providing detailed professional advice in this respect. A general approach has, however, been to have the majority of investments in relatively risk free areas.
RISK MANAGEMENT
.
The Board has issued a health and safety policy statement which outlines the responsibilities of all users of the Club and the procedures to be followed in all areas of risk management..
DIRECTORS
The directors who have served during the year were:-
D.R.D. Cornell (Chairman) A.I. Doolittle (Hon. Secretary) A.M.J. Graham (Treasurer) Dr. J.E. Hodgins I.G. Doolittle (Resigned on 11 August, 2025) R.W. Nicoll C.J. Bryce-Smith E. Strbac B.W. Arojojoye A.J Gray (Appointed on 25 February, 2025) R.C. France-Hayhurst (Appointed on 22 September, 2025)
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CROWN AND MANOR CLUB, HOXTON
(A_ COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS
REGISTERED OFFICE
Minerva House, 5 Montague Close, London. SEl 9BB.
BANKERS
;
Barclays Bank PLC, 128 Moorgate, London. EC2M 6SX.
INDEPENDENT EXAMINER
The independent examiner is Newton & Garner Limited, Building 2, 30 Friern Park, North Finchley, London. N12 9DA.
We have prepared the financial statements set out on pages 6 to 18 from the records of the company maintained by us.
Under Section 145(1) of the Charities Act 2011 the trustees may elect:-
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(a) to have the accounts examined by an independent examiner; or
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(b) to have the accounts audited by a person qualified under the definition contained in Section 144(2) of the said Act.
The directors have elected to appoint Newton & Garner Limited, Chartered Accountants, as independent examiners to review the accounts in accordance with the above provisions, and their report is contained in these financial statements.
SOLICITORS
Winckworth Sherwood, Minerva House, 5, Montague Close, London. SEl 9BB.
STOCKBROKERS/ INVESTMENT MANAGERS
Rathbones Investment Management, 30 Gresham Street, London. EC2V 7QN
SMALL COMPANIES EXEMPTION
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Approved by the Board on \ November 2025 and signed on its behalf .
PtyRy[Doren] D o cet—re _ rpscror A.I. Doolittle
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CROWN AND MANOR CLUB, HOXTON
(A_COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS
DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless ‘ they are satisfied that they give a true and fair view of the state of affairs of the company and of the incoming resources and application of resources, including the income and expenditure of the company for that period.
In preparing these financial statements, the directors are required to: -
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e Select suitable accounting policies and then apply them consistently;
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e Observe the methods and principles in the Charities SORP;
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e Make judgments and accounting estimates that are reasonable and prudent;
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e Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charity Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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CROWN AND MANOR CLUB, HOXTON
(A_COMPANY LIMITED BY GUARANTEE)
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YEAR ENDED 30TH JUNE, 2025
INDEPENDENT EXAMINERS REPORT TO THE DIRECTORS OF CROWN AND MANOR CLUB, HOXTON
I report to the directors on my examination of the accounts of the above charity (“the charity”) for the year ended 30th June 2025.
Respective responsibilities of directors and examiner.
As the charity’s directors, 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 company 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 examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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e the accounting records were not kept in accordance with section 130 of the Charites Act; or
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e the accounts did not accord with the accounting records; or e the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charites (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 a proper understanding of the accounts to be reached.
B koi . - R KNIGHT FCCA ATII NEWION & GARNER LIMITED, CHARTERED ACCOUNTANTS, BUILDING 2, 30 FRIERN PARK, NORTH FINCHLEY, LONDON, N12 9DA.
pate: HH. Mint,
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2028
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CROWN AND MANOR CLUB, HOXTON
.
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 30TH JUNE, 2025
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| . | Funds | Funds | Funds | Funds | ||
| Notes | 2025 | 2025 | 2025 | 2024 | ||
| INCOME | ||||||
| Donations and legacies Investment income |
3 4 |
200,900 75,690 |
25,230 - |
226,130 75,690 |
255,823 79,047 |
|
| TOTAL INCOME | £276,590 | £25,230 | £301,820 | £334,870 | ||
| EXPENDITURE | ||||||
| — | ||||||
| Direct charitable expenditure Management & administration costs |
5 6 |
296,522 122,237 |
32,003 - |
328,525 122,237 |
302,118 145,967 |
|
| TOTAL EXPENDITURE | £418,759 | £32,003 | 450,762 | £448,085 | ||
| NET EXPENDITURE BEFORE | ||||||
| GAINS AND LOSSES ON INVESTMENTS | (142,169) | (6,773) | (148,942) | (113,215) | ||
| Net gains on investments | 11 | 23,538 | - | 23,538 | 49,890 | |
| NET EXPENDITURE | 7 | (118,631) | (6,773) | (125,404) | (63,325) | |
| OTHER RECOGNISED GAINS | ||||||
| Net gains on revaluation of fixed assets |
. | ll | 27,640 | - | 27,640 | 2,557 |
| NET MOVEMENT IN FUNDS | (90,991) | (6,773) | (97,764) | (60,768) | ||
| RECONCILIATION OF FUNDS | ||||||
| Balance at Ist July, 2024 Unrestricted Designated funds Revaluation of leasehold property |
1,077,123 1,000,000 - |
- - - |
1,077,123 1,000,000 - |
1,087,891 1,000,000 50,000 |
||
| BALANCEAT30THJUNE,2025 | 15 | £1,986,132 | £(6,773) | £1,979,359 | £2,077,123 |
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CROWN AND MANOR CLUB, HOXTON
| (A_COMPANY | (A_COMPANY | LIMITED BY GUARANTEE) | LIMITED BY GUARANTEE) | LIMITED BY GUARANTEE) | ||||
|---|---|---|---|---|---|---|---|---|
| BALANCE SHEET | ||||||||
| AT | 30TH | JUNE, | 2025 | |||||
| Notes | 2025 | 2024 | ||||||
| FIXED ASSETS | ||||||||
| Tangible assets | 10 | 35,176 | 43,971 | |||||
| ‘Investments | ll | 1,901,821 | 2,048,521 | |||||
| 1,936,997 | 2,092,492 | |||||||
| CURRENT ASSETS | ||||||||
| Debtors | 12 | 38,278 | 28,842 | |||||
| Cash at bank and | in | hand | 35,075 | 53,043 | ||||
| 73,353 | 82,245 | |||||||
| CREDITORS | ; | |||||||
| ; | ||||||||
| Amounts falling | due | within one year 13 | (30,991) | (97,614) | ||||
| Net current assets/ | (liabilities) | 42,362 | (15,369) | |||||
| NET_ ASSETS | 14 | £1,979,359 | £2,077,123 | |||||
| FUNDS | ||||||||
| General funds | 15 | 28,702 | 147,333 | |||||
| Restricted funds | 15 | 18,080 | 24,853 | |||||
| Revaluation reserve | funds | 15 | 932,577 | 904,937 | ||||
| Designated funds | 15 | 1,000,000 | 1,000,000 | |||||
| . | £1,979,359 | £2,077,123 |
For the year ended 30th June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of Financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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Approved by the Board on !! November 2025 and signed on its behalf
Ary te Uy
A.I. DoolittleDevitt - DIRECTOR .-R . D. Cornell = DIpECTOR
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Company Registration No: 232381
Page 8
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CROWN AND MANOR CLUB, HOXTON
(A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CHANGES IN EQUITY YEAR ENDED 30TH JUNE, 2025
Income and Expenditure Balance at Ist July, 2023 2,087,891 | Year ended 30th June, 2024: Deficit and total comprehensive income (60,768) Revaluation of leasehold property 50,000 Balance at 30th June, 2024 20775123 Year ended 30th June, 2025: Deficit and total comprehensive income (97,764) Revaluation of leasehold property - Balance at 30th June, 2025 £1,979,359
Page 9
CROWN AND MANOR CLUB, HOXTON
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
1. LEGAL STATUS OF CHARITABLE COMPANY
Crown and Manor Club, Hoxton is a charitable company, limited by guarantee, registered in England and Wales. The company’s registered number and registered office address can be found in the Report of the Directors.
In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
2. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared in accordance with 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 lst January, 2015) — (Charities SORP (FRS 102)), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Crown and Manor Club, Hoxton meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. There are no material uncertainties about Crown and Manor Club, Hoxton’s ability to continue as a going concern.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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Income
Legacy income is accounted for in the Statement of Financial Activities when the company is entitled to the income, receipt is probable and when the amount can be quantified with sufficient accuracy.
Donations and other form of voluntary income are recognised as income when receivable, except insofar as they are incapable of financial measurement. Member subscriptions are included in the financial statements at the time they are receivable.
Other trading activities represent rental income and income from fund raising activities and are recognised when receivable.
Investment income is accounted for when receivable.
Page 10
CROWN AND MANOR CLUB, HOXTON
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
2. ACCOUNTING POLICIES (cont.)
Expenditure
Expenditure is accounted for on an accrual basis with any irrecoverable element of VAT included within the item of expense to which it relates.
Charitable expenditure comprises those costs incurred in the delivery of its activities and services for the beneficiaries. Grants payable are charged in the year when the offer is approved by directors and conveyed to the recipient.
All costs are allocated between expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource costs relating to a particular activity are allocated directly.
Fund accounting
Unrestricted funds are donations and other income resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds. ‘
Designated funds are set aside as part of unrestricted funds in order to meet financial obligations and ensure the future operation of the club.
Restricted funds are to be used for specific purposes as laid down. Expenditure which meets these criteria is charged to the fund.
Tangible fixed assets
Tangible fixed assets other than long leasehold 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 basis:
Fixtures, fittings, and equipment — 20% reducing balance basis.
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 credited or charged to profit or loss.
Investments
Investments are valued at market value at the balance sheet date. Any gain or loss on investments is taken to the Statement of Financial Activities.
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CROWN AND MANOR CLUB, HOXTON
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
2. ACCOUNTING POLICIES (cont.)
Debtors
Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and 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 overdraft. Bank overdraft are shown within borrowings in current liabilities.
Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Financial instruments
The company 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 company’s balance sheet when the company 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.
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, when the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classifieds receivable within one year are not amortised.
te
Page 12
CROWN AND MANOR CLUB, HOXTON
(A_COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
2. ACCOUNTING POLICIES (cont.)
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 business 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 transactioninterest method.price and subsequently measured at amortised cost using. the effective
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense unless those costs are required to be recognised as part of the cost of stock or fixed assets.
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 company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease tern.
Rentals payable under operating leases, including incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
Page 13
CROWN AND MANOR CLUB, HOXTON
;
:
(A_ COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Unrestricted|
|Funds|Funds|Funds|Funds|
|2025|2025|2025|2024|
|3.|INCOME|FROM|DONATIONS|AND|LEGACIES|
|Donations,|grants,|and|other|income|153,596|25,230|178,826|182,184|
|Boys|subscriptions|3,304|-|3,304|4,639|
|The|Wykeham|Crown|&|Manor|Trust|44,000|-|44,000|69,000|
|£200,900|£25,230|£226,130|£255,823|
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The restricted funds are specifically restricted to basketball coaching, camping, adventtire & residential trips, football and junior club.
- INVESTMENT INCOME
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Interest|&|dividends|45,560|54,690|
|Rental|income|30,130|24,357|
|£75,690|£79,047|
|5.|DIRECT|CHARITABLE|EXPENDITURE|
|Staff|costs|(note|8)|192,156|-|192,156|187,459|
|Light|&|heat|28,025|-|28,025|38,947|
|Repairs|&|improvements|32,074|-|32,074|15,409|
|Cleaning|12,638|-|12,638|13,697|
|Insurance|7,998|os|7,998|6,259|
|Vehicle|running|expenses|1,804|-|1,804|5,194|
|Football|5,262|-|5,262|6,336|
|Basketball|-|10,085|10,085|3,265|
|Camping,|adventure|&|residential|trips|2,004|878|2,882|2,029|
|Indoor|games|427|-|427|2,202|
|Music|&|dance|-|15,640|15,640|3,891|
|Education|projects|5,340|5,400|10,740|6,438|
|Depreciation|8,794|-|8,794|10,992|
|£296,522|£32,003|£328,525|£302,118|
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Page 14
CROWN AND MANOR CLUB, HOXTON
(A_COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
:
,
| Unrestricted | Unrestricted | ||||
|---|---|---|---|---|---|
| Funds | Funds | ||||
| 2025. | 2024 | ||||
| 6. | MANAGEMENT & ADMINISTRATION COSTS | ||||
| Rent & rates | 70,061 | 74,174 | |||
| Postage, printing & stationery Advertising & fundraising Telephone Legal & professional fees Audit & accountancy fees Investment manager’s fee General expenses |
3,542 8,679 709 17,513 8,160 10,740 2,833 |
7,774 14,387 5,322 19,312 11,520 11,517 1,951 |
|||
| ; | £122,237 | . | £145,967 | ||
| 2025 | 2024 | ||||
| 7. | NET INCOME FOR THE YEAR | ||||
| This is stated after charging:- | |||||
| Auditors' fee | - | £6,000 | |||
| Notravelcostswerereimbursedtoanymembers. |
8. STAFF COSTS
| Staff costs were as follows:- | ||
|---|---|---|
| Salaries | 179,411 | 169,974 |
| Redundancy pay Social security costs Pension costs |
- 8,268 4,477 |
6,455 7,054 3,976 |
| £192,156 | £187,459 | |
| No employee received emoluments of more than £60,000. | ||
| The average number of employees during | ||
| the year was as follows:- | ||
| Administration&support | 12 | 11 |
.
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CROWN AND MANOR CLUB, HOXTON
(A_COMPANY LIMITED BY GUARANTEE)
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NOTES TO THE ACCOUNTS
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9. TAXATION
The charitable company is exempt from corporation tax on its charitable activities.
10. TANGIBLE FIXED ASSETS
| COST OR REVALUATION | 2025 | 2024 |
|---|---|---|
| Land and building | ||
| Balance as at Ist July, 2024 & | ||
| asat30thJune,2025 | £1 | £1 |
The company has taken out a long leasehold interest in a facility on the ground and basement floor on the Wiltshire Row site. The leasehold interest is being recognised at a value of £l.
| COST OR REVALUATION | COST OR REVALUATION | 2025 | 2024 | |
|---|---|---|---|---|
| Fixtures, fittings and equipment |
||||
| Balance as at | Ist July, | 2024 | 172,366 | 158,331 |
| Additions | - | 14,035 | ||
| Disposals | - | - | ||
| Balance as at | 30th June, | 2025 | £172,366 | £172,366 |
| DEPRECIATION | ||||
| Fixtures, fittings and equipment |
. | |||
| Balance as at | Ist July, | 2024 | 128,396 | 117,404 |
| Charge for the | year | 8,794 | 10,992 | |
| Disposals | - | - | ||
| Balance as at | 30th June, | 2025 | £137,190 | £128,396 |
| NET BOOK VALUE | ||||
| Balanceasat | 30thJune, | 2025 | £35,176 | £43,971 |
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CROWN AND MANOR CLUB, HOXTON
;
2024
(A_COMPANY LIMITED BY GUARANTEE )
NOTES TO THE ACCOUNTS
| 2025 | 2024 | ||
|---|---|---|---|
| 11. | FIXED ASSETS INVESTMENTS | ||
| Leasehold property | |||
| Balance as at lst July, 2024 | 600,000 | 550,000 | |
| Revaluation | - | 50,000 | |
| Balanceasat30thJune,2025 | £600,000 | £600,000 |
As at 30th June, 2025, the directors are in the opinion that the value of the property is £600,000.
| a | |||
|---|---|---|---|
| M & G Charibond Charities Investment Fund | |||
| Balance at lst July, 2024 | 5,633 | 5,426 | |
| Disposal Net loss on investments |
(5,601) (32) |
- | |
| Revaluations | - | 207 | |
| Market value at 30th June, 2025 | £ - |
£5,633 | |
| Historical cost at 30th June, 2025 | £ - |
£6,000 | |
| Investec Wealth & Investment | |||
| Balance at as lst July, 2024 Disposal Acquisitions Net gains on investments Revaluations |
1,442,888 (190,651) - 23,570 27,640 |
1,432,701 (173,386) 131,251 49,890 2,351 |
|
| Interest on fixed interest securities b/fwd | (1,627) | (1,546) | |
| Interest on fixed interest securities c/fwd | - | 1,627 | |
| Market value at 30th June, 2025 | £1,301,820 | £1,442,888 | |
| Balance as at 30th June, 2025 | £1,901,820 | £2,048,521 | |
| Historical cost at 30th June, 2025 | £976,271 | £1,143,352 | |
| 12. | DEBTORS | ; | |
| Otherdebtors | £38,278 | £28,842 |
Page 17
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CROWN AND MANOR CLUB, HOXTON
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
| 2025 | 2024 | ||
|---|---|---|---|
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Accruals & accrued income | £30,991 | £97,614 | |
| 14. | ANALYSISOFNETASSETSBETWEENFUNDS |
| General | Revaluation | Designated | Total | |
|---|---|---|---|---|
| Funds | Reserve Funds | Funds | Funds | |
| Tangible assets | 35,177 | - | - | 35,177 |
| Investments | (30,757) | 932,577 | 1,000,000 | 1,901,820 |
| Current assets | 73,353 | - | - | 73,353 |
| Current liabilities | (30,991) | - | - | (30,991) |
| £46,782 | £932,577 | £1,000,000 | £1,979,359 |
| 15. | MOVEMENT IN FUNDS | ||||||
|---|---|---|---|---|---|---|---|
| Reval of | |||||||
| Balance | Movement in | Resources | Net | leasehold | Balance | ||
| 01.07.24 | Net Incoming | Outgoing | investment | property | 30.06.25 | ||
| Funds | |||||||
| General funds | 147,333 | 276,590 | (418,759) | 23,538 | - | 28,702 | |
| Restricted funds | 24,853 | 25,230 | (32,003) | - | - | 18,080 | |
| Revaluation reserve | |||||||
| funds | 904,937 | - | - | 27,640 | - | 932,577 | |
| Designated funds | 1,000,000 | - | - | - | - | 1,000,000 | |
| £2,077,123 | £301,820 | £(450,762) | £51,178 | - | £1,979,359 |
On 30th June 2016, the directors transferred £1,000,000 from General funds to Designated funds. The funds are designated for projects that either give benefit to the medium and longer term needs of our members or that support the maintenance of our building at Wiltshire Row. The Designated fund is a specific funding commitment that is to be reviewed annually and controlled by the Board.
Revaluation reserve funds represents the amount by which investments exceed their historical cost plus the cost of revaluation of leasehold property.
The resources outgoing on restricted funds is made up as follows:
£ Funds used for direct charitable expenditure 32,003 Funds used for purchase of fixed assets -
£32,003
.
. %,
a
Page 18
CROWN AND MANOR CLUB, HOXTON
(A_COMPANY LIMITED BY GUARANTEE)
NOTESTO THE ACCOUNTS
16. CONTINGENT LIABILITIES
During the year ended 30th June, 2020, an assessment was performed which identified that the building’s cladding may well need to be remediated to meet new safety standards. The remediation work to remove and replace the building’s cladding is now underway but has yet to be completed. The Club continues to engage with the landlord and the leaseholders over the best approach to remediation and evaluating what legal remedies it has available to it. The directors remain of the opinion that the Club able to absorb the costs, if any, which might reasonably be expected to fall on the Club, as it has sufficient funds.
17. RELATED PARTY
D.R.D. Cornell and A.I. Doolittle were directors of this company during the year ended 30th June, 2025 and also trustees of The Wykeham Crown & Manor Trust.
During the year the company received donations of £44,000 (2024 - £69,000) from The Wykeham Crown & Manor Trust.