The School Tennis Project Limited
Trustees’ Annual report and Statement of Receipts and Payments and Assets and Liabilities
For the year ended 31 August 2023
Charities Number: NIC104295
The School Tennis Project Limited
Annual report and financial statements for the year ended 31 August 2023
Contents
| Pages | |
|---|---|
| References and administrative details of the Charity | 1 |
| Directors’ report | 2 - 4 |
| Independent Examiners Report to the Directors | 5 |
| Receipts and payments account | 6 |
| Statement of assets and liabilities | 7 |
| Notes to the financial statements | 8 - 9 |
The School Tennis Project Limited
References and administrative details
Charity Name: The School Tennis Project Limited Charity Registration Number: NIC 102269 Contact Address: 4 Blaris Court Lisburn Co. Antrim BT27 5LN Directors Mr Brian Cushnie Mr Hugh Allen Cushnie Mr Ian Arthur Cairns Michael Ferguson Independent Examiner Ruddell & Company Chartered Accountants & Registered Auditors 50 Portmore Street Portadown Co Armagh BT62 3NF Principal Bankers Santander 22 Bow Street Lisburn Co Antrim BT28 1BN
Page 1
The School Tennis Project Limited
Directors’ Annual Report for the year ended 31 August 2023
The directors present the annual report and statements of Receipts and Payments and Assets and Liabilities for The School Tennis Project Limited for the year ended 31 August 2023.
Objectives and Activities
The charitable purpose of the The School Tennis Project Limited is the advancement of tennis amongst children and teenagers.
The principal function of The School Tennis Project Limited is to support the advancement of tennis in Lisburn and the surrounding area by promoting the playing of tennis through the provision of professional tennis coaching lessons.
Our management of Wallace Park Indoor Tennis Centre involves organising weekly tennis lessons throughout the academic year and holiday camps during school holidays to help children develop their skills and interest in tennis. We also organise adult classes and opportunities to play in doubles nights and social tennis events at the facility. We provide a staff presence at the tennis dome during all opening hours (Monday – Friday, 10am-10pm & Friday – Sunday, 10am-5pm) This provides security and maintenance for the dome as well as allowing us to answer telephone calls and questions from passers by about the coaching service provided. In the long term we would like to replicate the service we provide and other public tennis facilities and provide after school tennis at schools.
Achievements, Performance & Public Benefit
Public benefits
The Company’s objectives are the promotion of community participation in healthy recreation (within the UK) by the provision of facilities for playing tennis and other sports. The benefit which flow from increasing participation in tennis include improved health outcomes, reduced levels of stress and anxiety, better levels of fitness, improved concentration and mental wellbeing. Studies have shown that veteran tennis players have considerably less stress related health issues than non-players. These benefits will therefore be evidenced through the number of people we have participating regularly in tennis programmes and the amount of facilities we are able to provide / improve. There is a slight risk that people could get injured playing tennis but this is more than outweighed by the health benefits of doing so. The ultimate beneficiaries of the charities work are the general public who come along and play tennis. Our programmes are aimed at all age groups and ability levels. As well as keeping people fit, playing tennis is a great way to meet new people and a sport which all communities in N. Ireland can enjoy together. In achieving increased tennis participation we will provide or improve tennis facilities at schools and public tennis facilities. While schools and councils are not the intended beneficiary they are public bodies and their benefit in improved facilities is necessary in the achievement of our aims. There is also a private benefit to the coaching staff who are paid and receive mileage remuneration for work related travel. They also receive training and gain from increased experience in coaching. However these benefits are incidental and coaching staff are necessary in achieving our aims. The amount paid for mileage is what is recommended by the Inland Revenue and the amount paid for coaching is less than the market value for coaching. The private benefit is therefore incidental and outweighed by the public benefit
Page 2
The School Tennis Project Limited
Directors’ Annual Report for the year ended 31 August 2023 (continued)
Financial Review
-
The principal source of income of The Schools Tennis Project Limited continues to be from tuition fees.
-
The principal expense of The Schools Tennis Project Limited is in respect of payments to tennis coaches for taking coaching lessons.
-
The Schools Tennis Project Limited had an excess of receipts over payments before other gains of £8,815 for the year ended 31 August 2023.
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The Schools Tennis Project Limited continues to be in a healthy financial state as at 31 August 2023 with total cash funds of £43,487
-
The Schools Tennis Project Limited aims to retain sufficient reserves to meet its expected future expenditure requirements as well as potential future capital projects.
Structure, Governance and Management
Going Concern
The directors’ have reviewed the company’s planned expenditure for the year ahead and are satisfied that there are adequate funds in place to ensure that the company can continue its activities and the financial statements for the year ended 31 August 2023 can be signed off as a going concern.
Governing Document and Constitution of the Charity
The company is governed by its Memorandum and Articles of Association.
Recruitment and Appointment of Board of Directors
Meetings of the shareholders are held at least once a year. The Board of Directors is elected as part of this Annual General meeting. The directors will hold their positions for a period of one year. Directors may be re-elected annually and there is no limit on the number of terms which may be served.
Page 3
The School Tennis Project Limited
Directors’ Annual Report for the year ended 31 August 2023 (continued)
Organisational Structure
The board of directors is responsible for the day to day management of the company.
The board of directors is chaired by the appointed chairperson. The directors are responsible for making decisions on matters of general concern and importance to the company including deciding how company funds are to be applied.
The board of directors meets at times fixed by the directors. Special meetings may be convened at any time by the chairperson.
Compliance with Public Benefit
The company has given careful consideration to the Charity Commission for Northern Ireland’s guidance on public benefit to ensure that the activities entered into during the year have helped to achieve the company’s objectives, as well as providing public benefit.
Statement of Trustees' Responsibilities
The directors are responsible for preparing the Directors’ Report and the statement of receipts and payments and statement of assets and liabilities in accordance with applicable law and regulations.
The law applicable to charities in Northern Ireland with Income of less than £250,000 requires the directors to prepare a statement of receipts and payments and a statement of assets and liabilities for each financial year.
The directors are responsible for keeping accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the assets and liabilities of the company. 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.
Signed on Behalf of the Directors
Director 1 Brian Cushnie
Director 2 Ian Cairns
Date
28 June 2024
Page 4
The School Tennis Project Limited
Independent Examiners Report to the Directors of The School Tennis Project Limited
I report on the accounts of the Charity for the year ended 31 August 2023, which are set out on pages 2 to 12.
Respective responsibilities of charity trustees and examiner
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008.
It is my responsibility to:
-
examine the accounts under section 65 of the Charities Act
-
follow the procedures laid down in the general Directions given by the Commission under section
-
65(9)(b) of the Charities Act
-
state whether particular matters have come to my attention.
Basis of independent examiner’s report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.
My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
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That accounting records were not kept in accordance with section 63 of the Charities Act
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That the accounts do not accord with those accounting records
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That the accounts do not comply with the accounting requirements of the Charities Act
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That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner’s statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
Brian Ruddell For Ruddell & Company Portadown
Page 5
The School Tennis Project Limited
Receipts and Payments Account for the year ended 31 August 2023
| Unrestricted | Unrestricted | Restricted | Total | Total | Total | ||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2023 | 2023 | 2023 | 2022 | ||||
| £ | £ | £ | £ | ||||
| Receipts | |||||||
| Tuition fees | 94,160 | - | 94,160 | 76,937 | |||
| Other income | 27,104 | - | 27,104 | 59,215 | |||
| Total Receipts | 121,264 | - | 121,264 | 136,152 | |||
| Payments | |||||||
| Coaching Costs | 38,875 | - | 38,875 | 33,379 | |||
| Administrative Costs | 73,574 | - | 73,574 | 67,486 | |||
| Fixed asset additions | - | - | - | 7,777 | |||
| Directors loan account | - | - | - | - | |||
| Total Payments | 112,449 | - | 112,449 | 108,642 | |||
| Excess of receipts | |||||||
| over payments before transfer | 8,815 | — | 8,815 | 27,510 | |||
| Transfers | |||||||
| Gross transfers between funds - in | — | — | — | — | |||
| Gross transfers between funds – out | 75,000 | — | 75,000 | — | |||
| Excess of receipts over | |||||||
| payments before other gains | (66,185) | — | (66,185) | 27,510 |
On Behalf of the Board of Directors
Director 1 Brian Cushnie
Director 2 Ian Cairns
Page 6
The School Tennis Project Limited
Statement of Assets and Liabilities as at 31 August 2023
| Cash Funds General Account No. 1 Reserve Account Total Cash Funds Investment Assets Investments Total Investment Assets Assets retained for the Charity’s own use Fixtures and Fittings Total Assets retained for the company’s own use Total Assets Liabilities Directors loans Accruals Total liabilities Total Assets less Liabilities |
Unrestricted Funds 2023 £ Designated Funds 2023 £ Restricted Funds 2023 £ Total 2023 £ Total 2022 £ 43,487 - - 43,487 109,671 - - - - - |
|---|---|
| 43,487 - - 43,487 109,671 |
|
| 75,000 - - 75,000 - |
|
| 75,000 - - 75,000 - |
|
| 20,010 - - 20,010 25,013 |
|
| 20,010 - - 20,010 25,013 |
|
| 138,497 - - 138,497 134,684 |
|
| 498 - - 498 498 1,813 - - 1,813 3,333 2,311 - - 2,311 3,831 136,186 - - 136,186 130,853 |
On Behalf of the Board of Directors
Director 1 Brian Cushnie
Director 2 Ian Cairns
Page 7
The School Tennis Project Limited
Notes to the financial statements for the year ended 31 August 2023
1. Accounting policies
Set out below are the principal accounting policies which have been adopted in the compilation of the Receipts and Payments Account and the Statement of Assets and Liabilities
(a) Receipts and Payments Account
All items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis.
(b) Statement of Assets and Liabilities
(i) Assets retained for the Company’s own use
The assets of the company, retained for its own use comprise:-
- Fixtures and fittings
Fixtures and Fittings are recognised at cost and are depreciated on a reducing balance basis of 20% per year. The company has set a minimum threshold of cost for an item of £100 for it to be considered to be capitalised as a fixed asset.
ii) Investments
Fixed asset investments comprising Listed Investments are initially recorded at cost and are then subsequently stated at fair value at each year end date.
Page 8
The School Tennis Project Limited
Notes to the financial statements for the year ended 31 August 2023 (continued)
2. Reconciliation of Cash Funds
| Total Cash Funds at Beginning of the year Receipts for the Year Payments for the Year Total Cash Funds at end of the year |
£ 109,671 121,264 (187,449) 43,486 |
|---|---|
3. Movement in Funds
| Endowment funds None Restricted funds None Unrestricted funds General Fund Total funds |
At 1 Sept 2022 £ - - - - 109,617 109,617 109,617 |
Incoming Resources £ - - - - 121,264 121,264 121,264 |
Outgoing Resources £ - - - - (112,449) (112,449) (112,449) |
Transfers £ - - - - (75,000) (75,000) (75,000) |
Fixed Asset Additions £ - - - - - - - |
At 31 Aug 2022 £ - |
|---|---|---|---|---|---|---|
| - | ||||||
| - | ||||||
| - | ||||||
| 43,482 | ||||||
| 43,482 | ||||||
| 43,482 |
Purposes of Endowment Funds
The company had no endowment funds during or at the year end.
Purposes of Restricted Funds
The company had no restricted funds during or at the year end.
Purposes of Designated Funds
The company had no designated funds during or at the year end.
4. Transactions with the directors
The company paid wages and pension contributions of £19,810 during the year to director Brian Cushnie and £20,122 to his wife Tina Cushnie relating to their employment as office administrators.
5. Governance Costs
Governance costs of £1,813.00 were incurred during the year which solely relate to fees paid to the independent examiner.
Page 9