CLOGHER VALLEY RUGbY FOOTBALL CLUB ATEMENT OF FINANCIALAcrivrrY FOR ThE YEAR ENOED aOAPRIL2023 2022 ftestricted fvnds I￿restrI￿ad luDds Total Total In¢om•'. Ineomo from Rugbyartivlty Members gubsuiption5- Annual Membershlp IRFU Income 13.790 4.297 13,790 4.Z97 11.270 1,440 433 Club Dinner Surplus InternatiDTral Titket Surplus 2,170 1170 1.195 In¢orne: fundralslnga¢tlvltles sp)￿orship Grants Retrived Saturday Collections Income from Advertlsing Board. Money Raising Ventures & Dcnations Surplus on Supply andsale of KSt5 etc Miscellaneous Income 17,500 2.047 14,384 1.5(Kl 52,903 8,726 10.955 I7,￿j 2,047 14384 1.5 81051 8.726 10.955 I6,(￿) 10,367 650 29,150 42,303 7.680 11,635 Investment income Bank Interest 228 305 Total Income 29.15D 128.SlX) 157,650 105,278 Expendlture.. Expenditure.. cost of rU￿V acli¥tties Irish RugiJy Football Union Grc>unds LeaselRentals & maIntenan￿ Costs Coathing & Physio Costs Provision of Food for Vislting Teams & Laundry C05ts Equipment 5,291 19,825 1,585 12.881 7,4PA) 6.844 5.594 5.291 19,825 21,585 11881 7080 844 5,594 5,291 21,321 12,429 10,144 2,557 6,618 3,110 Bus H5re andTraV￿rIng Costs Club Dinner Defiot Dtrfldt on Sale of Kits Fixed Asset Depreuation 439 11.549 IL988 12.285 Expendlturè.. tost of fvndralslng #llbftJes Fundraising event costs. Deflclt trn Supply and SalÈ of Klts ett Gift5 & DonatlDnS Bank inteTest & Fees Postage. Stationery & A(hiertisir Leg31 & Professional costs Signboard costs mis￿lIaneDUS Fxpen5es 16.496 1&496 17.559 520 943 3,317 520 943 3.317 2CO 691 5.011 2.926 1926 3,088 20 Total expendiiure 439 115,304 115,743 Im,324 N•t Inlund¥ 28.711 13,196 41.9L17 4,9E4 Openingfunds 111,195 168.946 280,141 214.120 a051nEfund5 139.S06 182,142 322,048 219.074 PWY CLOGHER VALLEY RUGBY FOOTBALL CLUB BALANCE SHEET AS AT 30TH APRIL 2023 2023 2022 Fixed Assets (Note 2) 272,451 224,461 CurrentAs5ets Stock - Kits et 22.641 23.712 Debtors & Prepayments 5,387 3.545 Danske Bank Ltd CurrentAccount 25,147 130.463 937 119,234 Deposit Accounts Cash on hand 350 1,050 183,988 148,478 Current Liabilities Creditors & Accruals 47,824 57,131 Bank Overdraft Loan Account 78,167 34,667 Deferred Income 7,4CM) Members Interest Free Loans I,OCM) 1,000 134,391 92,798 Net Current Liabilities 49,597 55,680 Total NÈt AssÈts 322.oaR 220.IAI Represented by:_ Restricted funds (note 3) 139,906 111.195 Unrestricted fund5 182,142 168.946 Club Funds at end of year 322,048 280,141 Page 4 CLOGHER VALLEY RUGBY FOOTBALL CLUB NOTES TO THE FINANCIAL STATEMENrs l Accounting Policies The principal accounting policies adopted. judgements and key 50urce5 of e5titnation uncertainty in the preparation of the financial statements are as follows: a) Basis of preparation 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 1021 leffective l January 20151- {Charities SORP IFRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Clogher Valleey Rugby Football Club 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 note{s). bl Preparation of the accounts on a going concern basis. The trustees are of the view that the the Club is a going concern. Ll IfiLUI IIV IIILVIIIV 15 1 VLv¥riis¥u wrieii Liie LIUU Ild) rirLILirfiiriiL LV III¥ IUIIU>. dily yei Ivi Iridi iue LVIIVILIVIIS attached to the itemlsl of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, whether'capital, grants or 'revenue' grants, 15 recognised when the charity ha5 entitlernent to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of a specified event it is deferred until the criteria for income recognition are met. dl Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. el Fund accounting.. Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated fund5 are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donation5 which the donor has specified are to be solely used for particular areas of the Clubs development and for specific projects being undertaken by the Club. fl Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Playing fields - over the terrn of the lease Equipment - 10-20Yo straight line Page 5 CLOGHER VALLEY RUGBY FOOTBALL CLUB NOTES TO THE FINANCIAL STATEMENTS h) Stock is included at the lower of cost or net realisable value. i) Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. j) Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fund5 to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. kl Financial instruments.. The Club only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amorti5ed c05t using the effective interest method. Page 6 06HER VALIEY RUGBY FOOTBALL CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH APRIL 2023 2. Fixed Assets Playing Community Fiekl Costs Hub store/ EquipTnent Floodlights ScoTeboaré Gym Land Total C05t:_ as at 30 April 2022 additions during the year di5P05a15 duriNg the year 127436 275172 6049 37610 5929 17838 470034 59978 59978 as at 30April 2023 127436 275172 59978 37610 5929 17838 530012 Depreciation.. as at 30 Apr¢1 2022 charge for year 192889 10171 5862 37 34881 546 5420 6521 245573 102 1132 11988 s at 30 April 2023 203060 S899 35427 5522 7653 257561 Net Book Value as at 30 April 2022 127436 82283 187 2729 509 11317 224461 a5 at 30 April 2023 127436 72112 Iso 2183 407 10185 272451 Depreciation has been chaiged a5 follows= Equiprnent Floodlight5 Scoreboard Reducing Balance 2(B6 Reducing Balance 2Ltt Reducing Balance I￿ Reducing Balance See Below Ibl Store Playing The playing fiekls ale owned by the Irish Rugby Football Union and are leased by Clogher Valley Rugby F￿eball Club for a 30 year period Eommencing l March 2014. The depreciation method adopted will allowfor anv Capital Expenditure incurred by the aub on those grounds to be writlen off evenly during the period of the lease. Page 7 CLOGH ER VALLEY RUGBY FOOTBALL CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31JfH APRIL 2023 3. Club Funds Analysis of movements in club fund5 Opening funds Incorne Expenditure C105ing funds Restricted funds Capital asset funds 2.197 {439) 1,758 Developmentfunds 55,553 20,000 75,553 FODC Grant 20,000 20,000 Build a Brick 33,445 9,150 42,595 111,195 29,150 1439) 139,906 Unrestricted funds 168,946 128.5(K) (115,304) 182,142 Total fund5 280,141 157,650 (115,743) 322,048 The capital asset fund represents donation5 received for the purchase of capital assets. Depreciation on the underlying assets is charged to the fund on an annual basis. The developrnent fund represents fund raised, less direct expenses. for future development at The Cran. Page 8 CLOGHER VALLEY RUGBY FOOTBALL CLUB We herby approve and adopt on behalf of the members of the Clogher Valley Rugbv Football Club the attached Accounts for the year to 30 April 2023. Date: Iq H A(JiS Rodney B Chairman nett Date: Ig 14 Sarah McKenna Secretary Page 9