CLOGHER VALLEY RUGBY FOOTBALL CLUB srATEMEPIt OF FINANCIALACtivtfY FOR THEYEAR ENDED 30APRIL2024 2024 2023 Restrfrted ful￿5 Unrestrlcted fvnds Tthl Total Incovne= Income from Rth activity MembersSubscriptions- Annual Membership IRFU Income Club Dinner Surplu5 International Ticket Surplus 21.286 6,511 2LZ86 6,511 13.790 4,297 2,270 2.270 2,170 Income: fundraising activities Sponsorship Grants Received Saturday Collections Income from Advertlsing Boards Money RaisingVenture5 & Donations Surplus on Supply and Sale of Kits etc Mis￿lIaneOUS Income Community Hub Income 39,985 2,250 38.875 29,109 78,602 lo,(￿1 8.883 39.98S 2.250 38,875 29,109 111.207 10.091 17,500 2,047 14.384 1,500 82,053 8,726 10.955 32.605 Imiestment intome Bank Interest 242 242 228 Total Incorne 32.605 238.404 27L(#19 157,650 Expenditure.. Experbditure.. c05t of rugby activitie5 Irish Rugby Football Union Grounds LeaselRentals & maintenan￿ Cosrs Coaching & Physio Costs Provision of Food for Vi5itingTeam5 & Laundry Costs Equipment 7,578 22.948 18,304 17,236 1,244 11.958 8,799 7.578 21948 18,31M 17.246 5,291 19.825 21,585 12,881 7,480 6.844 5,594 IL958 &799 Bus Hire and Travelling Costs Club Dinner Deficit Oeficit on Sale of Kits Fixed Asset Depreaation 351 11.831 11,988 Expenditure.. cost of fundraising aCtI￿tieS Fundraisin8 event cotts. Deficit on Supply and Sale of Kits etc Gifts & Don3tion5 Loan Interest Bank Interett & Fees Postage. Stationery & Advertising Legal & Profe55ion31 costs Signboard costs Mistellaneous Expenses 24,016 24016 16,496 5,918 3,030 5,918 3.030 520 943 3,317 2.905 905 1,878 1,350 L878 1.350 2,926 53 Totsl expenditure 351 140.762 144113 115,743 Net movement In funds 31254 97,642 IZ9,896 41,￿7 Openingfunds I39,￿6 182,142 321048 280,141 Cloynzfur*ls 172.160 279,784 454944 322,048 Page J CLOGHER VALLEY RUGBY FOOTBALL CLUB BALANCE SHEET AS AT 30TH APRIL 2024 2024 2023 Fixed Assets {Note 21 560,982 272,451 Current Assets Stock- Kits etc 25,810 22,641 Debtors & Prepayments 5.125 5.387 Danske Bank Ltd Current Account Deposit Accounts 29.379 18.198 25,147 130,463 Cash on hand 8CKI 350 79,312 183,988 Current Liabilities Creditors & Accruals 23.187 47,824 Bank Overdraft Loan Account 164.163 78,167 Deferred Income 7,400 Members Interest Free Loans i.o(x) 188.350 134,391 Net Current Liabilities 1109.038 ) 49,597 Total Net Assets 451,944 322,048 Represented by'.- Restricted funds {note 3) 172,160 139,906 Unrestrirted funds 279.784 182,142 Club Funds at end of year 451,944 322,048 Page4 CLOGHER VALLEY RUGBY FOOTBALL CLUB NOTES TO THE FINANCIAL sTATEME￿s l Accounting Policies The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: al Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151 Icharities SORP IFRS 102)), 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 notels}. bl Preparation of the accounts on a going concern basis. The trustees are of the view that the the Club is a going concern. cl Income Income is recognised when the club has entitlement to the funds. any performance conditions 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, is recognised when the charity has entitlement 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 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 funds are unrestrirted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations 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 15 probable that settlement will be required and the amount of the obligation can be measured reliably. gl Tangible fixed assets Individual fixed assets costing £l,O(K) or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows- Playing fields - over the term of the lease Equipment - 10-20°A straight line Page 5 CLOGHER VALLEY RUGBY FOOTBALL CLUB NOTES TO THE FINANCIAL sTATEME￿s h) Stock is included at the lower of cost or net realisable value. il 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. jl 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 funds 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 amortised cost using the effective interest method. Page 6 cL(￿HER VALLEY RUGBY FOOTBALL CLUB NOTESTO THE Accoumfs FOR THE YEAR ENDED 30TH APRIL 2024 2. Fixed Assets CarparklLand Playing Communrty & Pathway Field Costs Hub Store/Gyrn Equipment Floodlights Scoreboard BBQ Hut Totsl Cost:_ as at 30 April 2023 additions during the year disposa15 duringthe year 127436 47625 275172 59978 25￿31 37610 5929 17838 1670 S3￿J12 300713 1387 a5 al 30 April 2024 175061 275172 31LK 7436 37610 5929 19508 830725 Depreciation- as at 30 April 2022 charge for year 203060 10171 5899 307 35427 437 5522 81 7653 1186 257561 12182 as at 30 April 2023 213231 6206 35864 5603 8839 269743 Net Book Value as at 30 April 2023 127436 72112 59978 Iso 2183 407 10185 272451 a5 at 30 April 2024 175061 61941 311X 1230 1746 326 10669 560982 De reciation Depreciation has been charged as follows- Equipment Floodlights Scoreboard Store Playin8 20% Reducine Balance 20% Reducing Balance 20% Reducing Balance IO% Reducin8 Balance See Below Ibl Idl The playin8 fields are owned by the Irish Ru8by Football Union and are leased by Clogher Valley Ru8by Football Club for a 30 year peri(*l commencing l March 2014. The depreciation method adopted will allow for any Caprtal Expenditure incurred by the Club on those grounds to be written off eventy during the period of the lease. Page 7 CLOGHER VALLEY RUGBY FOOTBALL CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH APRIL 2024 3. Club Funds Analysis of movements in club funds Opening funds Income Expenditure Closing funds Restricted funds Capital asset funds 1,758 {351 ) 1,407 Development funds 75,553 13,660 89,213 FODC Grant 20,1 20,CKJO Build a Brick 42.595 18,945 61,540 139,906 32.605 13511 172.160 Unrestritted funds 182.142 238.404 (140.7621 279.784 Total funds 322,048 271,(KJ9 1141,113) 451,944 The capital asset fund represents donations received for the purchase of capital assets. Depreciation on the underlying assets is charged to the fund on an annual basis. The development 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 Rugby Football Club the attached Accounts forthe yearto 30 April 2024. Date: Rodney Bennett Chairman Date: Sarah McKenna Secretary Page 9