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Clogher Valley Rugby Football Club
Financial Statements for Year Ended 30th April 2025
CLOGHER VALLEY RUGBY FOOTBALL CLUB
STATEMENT OF FINANCIAL ACTIVITY
| YEAR ENDED 30TH APRIL | 2025 | 2025 | 2024 | |
|---|---|---|---|---|
| Income: | Restricted | Unrestricted | Total | Total |
| Fundraising | 30257 | 30257 | 111207 | |
| Match Day Income | 39400 | 39400 | 38875 | |
| Grants | 236188 | 8632 | 244820 | 2250 |
| IRFU Income | 7554 | 7554 | 6511 | |
| Sponsorships | 50735 | 50735 | 39985 | |
| Subscriptions | 27335 | 27335 | 21286 | |
| Brick Sales | 1626 | 1626 | 0 | |
| Advertising Signs | 6675 | 6675 | 29109 | |
| Club Shop Sales | 23256 | 23256 | 10091 | |
| Club Dinner | 6675 | 6675 | 0 | |
| Gift Aid Tax Refunds | 3202 | 3202 | 0 | |
| Land Letting | 1500 | 1500 | 1500 | |
| Donations | 5000 | 6860 | 11860 | 0 |
| International Tickets | 37105 | 37105 | 2270 | |
| Solar Panels | 324 | 324 | 0 | |
| Hub Rental Income | 2010 | 2010 | 300 | |
| Bank Interest | 3916 | 3916 | 242 | |
| Miscellaneous Income | 0 | 7383 | ||
| 242814 | 255436 | 498250 | 271009 | |
| Expenses: | ||||
| Pitch Maintenance | 19832 | 19832 | 14469 | |
| Repairs & Renewals | 14510 | 14510 | 7909 | |
| Light, Heat & Power | 5064 | 5064 | 5451 | |
| Insurance& Affiliation Fees | 11198 | 11198 | 11508 | |
| Leasing Grounds | 1752 | 1752 | 1752 | |
| Fundraising Costs | 7328 | 7328 | 24016 | |
| Match Day Costs | 7747 | 7747 | 13183 | |
| Club Shop & Kit Purchases | 18485 | 18485 | 0 | |
| Club Dinner | 4864 | 4864 | 1080 | |
| Physio & Medical Costs | 5985 | 5985 | 6670 | |
| Coaching Costs | 15512 | 15512 | 11634 | |
| Bank Interest & Fees | 11538 | 11538 | 3717 | |
| Printing & Stationery | 1019 | 1019 | 1734 | |
| Advertising | 1114 | 1114 | 667 | |
| Water Rates | 438 | 438 | 517 | |
| Broadband Costs | 432 | 432 | 0 | |
| Professional Fees | 4383 | 4383 | 504 | |
| Signboards | 4029 | 4029 | 1878 | |
| Catering Costs | 4222 | 4222 | 4053 | |
| Accommodation & Travel | 8441 | 8441 | 8799 | |
| International Tickets | 33288 | 33288 | 0 | |
| Rugby Equipment | 3852 | 3852 | 1244 | |
| Youth Tour Costs | 604 | 604 | 0 | |
| Players Meals | 1040 | 1040 | 0 | |
| Pitch Hire | 3424 | 3424 | 2228 | |
| Gifts | 720 | 720 | 5918 | |
| Depreciation | 281 | 9487 | 9768 | 12182 |
| 281 | 200308 | 200589 | 141113 | |
| Net Movement In Funds | 242533 | 55128 | 297661 | 129896 |
| Opening Funds | 172160 | 279784 | 451944 | 322048 |
| ClosingFunds | 414693 | 334912 | 749605 | 451944 |
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CLOGHER VALLEY RUGBY FOOTBALL CLUB
BALANCE SHEET AS AT 30TH APRIL 2025
| 2025 | 2024 | |
|---|---|---|
| Fixed Assets (Note 2) | 611049 | 560982 |
| Current Assets | ||
| Stock | 29686 | 25810 |
| Debtors | 2625 | 5125 |
| Danske Bank Ltd - | ||
| Current Account | 39699 | 29379 |
| Investment Account | 44657 | 2983 |
| DevelopmentAccount | 36847 | 13313 |
| Instant Access Account | 78 | 326 |
| Paypal Account | 1576 | 1576 |
| Investment Bond | 150000 | 0 |
| Cash on Hands | 7945 | 800 |
| 313113 | __79312, | |
| Current Liabilities | ||
| Creditors | 23165 | 23187 |
| IRFU - | ||
| Land Loan Account | 15167 | 21667 |
| Hub Loan Account | 40833 | 45833 |
| Community Finance Ireland | ||
| Hub Loan Account | 95393 | 96663 |
| Members Interest Free Loans | 0 | 1000 |
| 174558 | 188350 | |
| Net Current Assets | 138556 | -109038 |
| Total Net Assets | 749605 | 451944 |
| financed by: | ||
| Restricted Funds (Note 3) | 414693 | 172160 |
| Unrestricted Funds | 334912 | 279784 |
| ClubFundsatendoftheYear | 749605 | 451944 |
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CLOGHER VALLEY RUGBY FOOTBALL CLUB
NOTES TO THE FINANCIAL STATEMENTS
1 Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation 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 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Clogher Valley 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).
b) Preparation of the accounts on a going concern basis. The trustees are of the view that the the Club is a going concern.
c) Income Income is recognised when the club has entitlement to the funds, any performance conditions attached to the item(s) 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
d) 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.
e) Fund accounting: Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds 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 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.
f) 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 term of the lease Equipment - 10-20% straight line
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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 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.
k) 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.
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CLOGHER VALLEY RUGBY FOOTBALL CLUB
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH APRIL 2025
| 2. Fixed Assets | Store/Gym | Store/Gym | |||||
|---|---|---|---|---|---|---|---|
| Carpark/Land | Playing | Community | BBQ | Hut | |||
| & Pathway | Field Costs | Hub | Equipment | Garden | Room | Total | |
| £ | £ | £ | £ | £ | £ | ||
| Cost:- | |||||||
| as at 30 April 2024 | 175061 | 275172 | 310009 | 50975 | 19508 | 830725 | |
| additions | 985 | 5421 | 6725 | 35585 | 11119 | 59835 | |
| disposals | |||||||
| as at 30 April 2025 | 176046 | 280593 | 316734 | 86560 | 30627 | 890560 | |
| Depreciation: | |||||||
| as at 30 April 2024 | 0 | 213231 | 0 | 47673 | 8839 | 269743 | |
| charge for year | 0 | 3096 | 0 | 4899 | 1773 | 9768 | |
| as at 30 April 2025 | 0 | 216327 | 0 | 52572 | 10612 | 279511 | |
| Net Book Value | |||||||
| as at 30 April 2024 | 175061 | 61941 | 310009 | 3302 | 10669 | 560982 | |
| asat30April2025 | 176046 | 64266 | 316734 | 33988 | 20015 | 611049 |
Depreciation
Depreciation has been charged as follows:
{a] Equipment 20% Reducing Balance (b] Store/Gym 10% Reducing Balance {c] Playing Field See Below
The playing fields are owned by the Irish Rugby Football Union and are leased by Clogher Valley Rugby Football Club for a 30 year period commencing 1 March 2014. The depreciation method adopted will allow for any Capital Expenditure incurred by the Club on those grounds to be written off evenly during the period of the lease.
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CLOGHER VALLEY RUGBY FOOTBALL CLUB
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH APRIL 2025
3. Club Funds
Analysis of movements in club funds
| Opening | |||||
|---|---|---|---|---|---|
| funds | Income | Expenditure | Closing funds | ||
| £ | £ | £ | £ | ||
| Restricted funds | |||||
| Capital asset funds | 1,407 | - | (281 | ) | 1,126 |
| Development funds | 89,213 | 241,188 | - | 330,401 | |
| FODC Grant | 20,000 | - | - | 20,000 | |
| Build a Brick | 61,540 | 1,626 | - | 63,166 | |
| 172,160 | 242,814 | (281 | ) | 414,693 | |
| Unrestricted funds | 279,784 | 255,436 | ( 200,308 | ) | 334,912 |
| Totalfunds | 451,944 | 498,250 | (200,589 | ) | 749,605 |
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 funds raised, less direct expenses, for future development at The Cran.
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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 for the year to 30 April 2025.
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Mark Henderson
Chairman
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Sarah McKenna
Secretary
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Date: IG -8)- 2229
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Date: Vy -oF - L0E5
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