Charity registered number- NIC102756 HMRC Charity regislered number- N100498 Lisburn Racquets Club Accounts for the year ended 31 March 2023
Llsburn Racquels Club Accoiiiilsfor tlieyear elided 31 Marcli 2023 Contents Page(s) Reference and athninistrative details of the Charity, Trustees and Adviser) Trustecs, report Independent aiidiloi's, i-eport Statement of fmancial activities io Balaiice sheet Notes to the accounts 12-19 ASM
Lisburn Racquets Club Accouiilsfor Iheyear elided 31 March 2023 Page I Reference and administrative details of the Charity, Trustees and Advisers Management Committee Trustees David Mcclay (Chairman) Ken George Nixon (Trustee Chairnian) Philip W'arnoik (Honorary Treasiirer) Jeff Kearoii (Trustee Secretary) Graham Heiider50n (Honorary Secretary) Stephen Calow (resigned April 2023) Robert Sidney Colhoun MBE (deceased October 2022) Robert Sidney Colhoiin MBE (deceased October 2022) June Fahy Wesley Shaiiiion Leslie Clegg Graliajn Henderson Stephen Calow (resigned April 2023) Nicky Kirk Jeff Kearoii Julie McH¢nry Keli Moore Sandra Orr lan Marsh (resigned Septeinber 2022) Colin Watterson (resigned April 2022) Stepheii Heiidry (resigned Septeii)ber 2022) Stephen Orr Martin Ba.5som (appolllted Septen)ber 2022 and David Mcclay resigned March 2023) Doug Wal%on {Appointed March 2023) Sttiart Lightbody Registered officelPrincip212ddres$ 36 Belfast Road Lisbum Co Antrim BT27 4AS Registered auditors Bankers ASM (D) Ltd Chartered Accountants 79 Cunninghains Lane Dunganiion Co Tyrone BT716BX FiTSt Tnist Bank 34 MaTket Sqiiar¢ Lisburn Co Antrim BT28 IAG Solicitors Charity Registered Ilumber Joseph Lockhart & Sons Bacli¢lors Walk Lisburn Co Antrim BT28 IXJ NIC102756 HMRC Charity Registered Number N100498 ASM
Li.sburn Racquels Club Accouiitsfor Iheyear elided 31 Morcli 2023 Trustees, report for the year ended 31 March 2023 Page 2 The Trustees, preseiit their ant)ual report a]id aiidited accounts for the year ended 31 March 2023. The Trustees havc adopted the provisions of the Charities Act (Noitliern Ireland) 2008 as amended by the Charities Act (Northern Irelaiid) 2013, the C.harilies (Accounts and Report5) Regulations (North¢rn Ireland) 2015 and the Accoiinting and Reporting by Charities.. Statenieiit of RevoInmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Staiidard applicable in the UK and Republic of Irelaiid {FRS 102) (effective l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Reference and administrative details of the Charity? Trustees and Advisers Lisburn Racquels Club is an unincorporated charity and does not have a share capital. The reference and admini.qtrative details of the C.harity, Truslets and Adls¢TS are listed on page l. Charity Status H."as achieved on 4 February 2016 with the Charity Coininission for Nortlieni Ireland and on 21 Marcli 2016 with HM Rev¢nue and Custoins. Structure* governance and management Lisburn Racquets Club is a charity that exists to provide facilities and an environnieiit for the proinotion and adv'ancenieiit of liatel]r racquets sports and other sports that use the facilities. Lisburn Racquets Club, founded 1971, is the playing and Social faiilities of tl)ree )lateur sports clubs, namely Hilden Teilliis Club, founded 1923, Alpha Badminton Club, founded 1932, ]d Lisburn Racqiiets Squa.8h Club, founded 1971. The sports clubs have a joint subscription colleuted by the Lisburn Racquets Club whose Trustees and Management Committee are r¢sponsible for the financial manageiiieiit of the Chai'ity. The three 5POrts clubs are affiliaied to their respeknlive GoTreining Bodies and operate under thetT guidance particularly as regards Child Safety. Alpha Badmintoii Cliib and Lisburn Racquets Squash Club have achieved the ClubinarkNI ail'ard and Hilden Tei]nis Club is curyeiitly preparing its application. Membership of the Club is open to everyone without any restrictions. Meiiibership stands at approximately 600-700 with about 450 being under-18. Most of the children and adults play more than one sport at allocated tinies each wee.k all year round. Governance Lisburn Racquets Club is goerned under its Rules as well as general eniployinent and otlier legislation applicable to Northern Ireland. Any proposed cliatiges to the constitution or rules are subiiiitted to the AGM or an EGM. The rules state that the Manageiiient c.ommittee is appoiiited partly by th¢ Trustees and partly by the three Sports Club Coiiiniitte.es. The Board of Trnstees aiid the Manageineiit Cotnmittee supervi>e and control the f]nances of the sports clubs and are also responsible for the day to day funclioning of the Racquets Club and the repair and maintenance of its facilities. The three 5POrts clubs appoint sub-conimittt.es whose main purpose if the advanceineiit )d manageinent of their own raiquets 5POrt in consullalion with the Trustees and Maiiageiiient Committee. The sports clubs, administration ts approved by their Sports Governing Bodles particularly concerning Child Care and the qualification of c.oaclies. Trustees and Management Committee The Trustees and Maiiageii)ent Cointnittee as at 31 March 2023 are as outlined on page l. The Trustees meet four tiines a year and the Manageiiient Committee meets rnore frequeiitly, geiierally each month. The day to day managemeiit of the Charity is carried out by the Manageiiient Coinmittee and the Charity's eleLted officials, the Honorary Secr¢lary, the HoIiorary Treasurer and the Honorary Cbairnian. The procedure for appointing and training new trustees is dealt with by the existing trustees and managemejit Coiillnittee as set out in the rules. The Trustees review the eiisting situation of the Charity aiid the role the retiri]ig trustee fulfilled, befoie looking at the skills and ¢OTnpetencies required in repla¢llig thein. Upon elewtion each trustee or committee member is gien a copy of the Charity rules and the latest a[Ual report and also introduced to the legal and operational aspects of the Charity to ensure they have understanding of the nare of Charity and the responsibilities and duties that go with their position. 'ASM
Li,fburn Racquels Club Accouiilsfor Iheyear eiided31 March 2023 Page 3 Trustees, report for the year ended 31 Mareh 2023 (cont'd) Indiiction and training is provided via 011 the job training by the existing Chainnan and Board of Trustees with a view to the history',backgroiind of the Charity ]d its visionlauns and also to disCI]$5 e.xpe.¢lations re role and what they can bring to the Charity. Back-ground copies of nieelings and the c.onstitution and other relekaiit docunientalioii are prolded. Objectives and activities The principal akntivities of the Charity are unchanged from last year and are the promotion and advancement of amateur sports and in particular racquet sports. The objectb of the Charity are.. a) To proiiiote and encourage the playing of racquet sports b) To proniote and eiicourag¢ interest in sport in geiieral, but in particular racquels sports and to organise social aiid r¢creatioiial facilities, eiitertainmeiits, functions, sport meetings, lebtures, films and all otheT Such autivities and sports or games as the Charity may decide on behalf of the nienibers. c) To supply food ]d refreiliments to men)bers and othei- visitors and generally to afford the members all the privileges and advantages of a charity. The objects include e.&lablishing. managing and condiicting a sports club to promote the playing of badminton, squsjsh, teiinis, table teiinis and other similar 5POrting pursuits and provide instrnction, tuition, conveiiiences. sports, games and reknreatioiis for meiiibers and visitors. The purpos¢ and aiins of the Charity is to coiitribute to the life of the local community by providing a friendly, sporting and social enviroiinient, open to all. Where people of all ages may socialise, exercise and be helpe.d and encouraged to play a arIety of sports to their own level of individual taleiit, coinfort aiid ambition, including providing the opportunity to represeiit the club and Northern Ire1]d, Ulster and treland competitively. All provided at a cost that is affordable and gives good alue and within an ell1r01nent of fst claqs facilities. The strategy of the Charity in 2023 was to continue with these objects and activities and to develop further the adanCernent of ainRteuT 5POrt. In the financial year eliding 31 March 2024, the strategy will be to continue to build on the stroiig results and activity levels recorded in 2023, with activity and participation in amateur sport increasing. Public benefjt The Trustees and Manag¢ment Committee believe that the Charity provides a public benefit in a nu]nber of ways and most obvioLlSly through its efforts to pron)ote the adTr"anceineiit of liateUr sport. The Charity's main purpose is the advanceiiient of racqiiels 5POrts and other sports that use the facilities. These bodies or individuals use the Charity's facilities for the purposes of advajicing that particular sport or game and by proiiioting health through physical exertion. All users of the Charity are anialeur and the facilities are aailable without restriction to all metnbers of the public. The facilities of the Charity have been used extensively during the y¢ar by menibers and visitors for the adance1]ient of aiiiateur sport and this is further described in the 'Achieveiiients ]d perforn]ance' section of this report. While tliere is alwaj's a risk of injury tlirough the participation in amateur sport, that risk is generally low and the Charity has a strong hiitory of miniinal accidtI)ts and tnjuries recorded at the Charity by its users and complies with all Health & Safety requir¢ii?ents. The Trustees confinn that they have had diie regard to guid&nce prodiiced by the Charity Cominission a]Id tiiat the Charity continues to me.et the public benefit requireinent. The Tn]slees have read seutions 32, 33 and 34 of the Charities (Accounts and Reports) Regulations 2015 and confurn the Charity Tnistees have coinplied with the diity to have regard to the guidance issued by the Commission under section 4(b)' (the public benefit requireii)eiit stattitory guidance) to ellSUI-e tliat the activities have helped to achieve the Charity'5 purposes and provide a benefit to the beneficiaries. Exemptions from disclosure The Charity has not aTrailed of any exeinptions froiii disclosure. JASM
Li.Fburn Racquels Cliib Aceouiilsfor tlieyear ended 51 March 2023 Trustees, report for the year ended 31 March 2023 (eont'd) Page 4 Aehievements and performance The Trustees report oli ayeart]iat was pleasingly not inipacted by the COVID-19 pandeinic. with no enforced periods of closure of the preiiiises and a retum to sport for more visitors and users of the facilities. In the financial year to 31 March 2023, the Charity perfornied well given the inflation inipact on increased costs, in particular wages and energy costs. Following signifiLant expenditure in previous years on the fabric of the building, the previous few years have seeli mininial capital speiid, partly due to the close monitoring of ¢xpeiiditure due to the inipact of COVID. In the cUellt year the main areas of capital speiid, were LED lights in%talled in certain areas, new Bathninton mats and streaming equipmeiit. The TruNtees believe the preiiiises are in the best condition they have been for many y.ears. In prior years the Tniste¢s ai)d ManageiiieIit Coinmittee established a multi-ye.ar plan with working groups created to fociis on key areas of the Chal'ity so as to acliieve meaning] progress on thes¥ aitns over the next nuinber of years. These key areas are facilities i]nproveiiient, inforniation technology, promotioii and advertising of meinbership and visitOT service.s and social activitie.s. During the year soine progress was made on thes¢ areas by the working groups aiid these reinain ateas of foLUS for the coming years. The Charity has beeii designated as The National Badminton Centre by the Governing Body who use it for their conipetitions and training. Sllnilarly netball use it for training their elite players and for their Division I league matclies. The Charity is hoine for several netball and ba.qkeiball teai)Is and clubs and the Ulster BadIninton League play their league matclies at ihe preniise.s. Some local schools use the Charity for their P.E. ¢las>es of netball and badn]inton in the afternoons and for their inter-school coiiipetitions in these sports. The main hall has 900 bleacher seals and has been used successfully for major publicised ¢veiits in badininlon. table tennis, netball. baske.tball, taekwondo ]d judo. In addition, a nuniber of local citizens play 5-a-side football and also sonie book courts for an OCi-a9ional ganie of badininton, tetjnis or squash. The governllig bodies of Badiniiiton and Table Teiinis rent officLS at the Charity facilities. The ChaTity also rents its lounge for Trarious activities such as Bridge. Yoga. Dancing, Salsa and quizzes. The lounge is also used for member and visitor social ¢ngageinents as well as a signiftcant nuniber of charity fund raisiiig events. Going concern The Charity has had a successful j.ear in relation to growing m¢nibership and inconie at nearly all levels. In the financial year ended 31 Marcli 2023, the Charity perfonned well given the tnipact of inflation aiid increased costs, in particular to w'ages and eiiergy. Cash balances held up well during the curreiit fu)ancial year and the Charity is well placed to continue opei'ating with foreiasts and budg¢ts showing that the Charity has adtqiiate re>ources to c.ontinue in operational existence for the foreseeable tt]re aiid froin at least 12 months from the date of signing the financial statetiients. The Charity therefore continues to adopt the going concern basis in pyeparuig its fmajicial statements. In Memoriam The Charity is very sad to not¢ the deaths of two loiig serving ni¢ii)bers and Trustees of the Charity who pa.ssed away in the curreIit fiiiancial year. Robert Sidney Colhoun MBE or Bob as eweryone knew him by, passed away in October 2022 and was the main driviiig force b¢liind the Chai'ity for th¢ majority of his life and th¢ main reason the Charity has the facilities it has today. Malcolm McHenry ied away in Deceinbei. 2022 having been a meniber and fonner Trustee for many years. Malcolm's fmancial 5UPPOrt of the Charity and in particular Tennis has helped the Charity in recei)t y.ears inslall new teiinis surfa¥es, tei)nis doiiie and balcony. Bob and Malcolm will be greatly missed by everyoiie inO1Ved ajid coiiiiected with Lisburn Racquets Club. 'ASM
Li,Yburn Racquets Cliib Accoun15for theyear eiided31 Marcli 2023 Page 5 Trustees, report for the year ended 31 March 2023 (Cont'd) Environment The Charity recognises its respoiisibility to carry out its charitable operations whilst minimising environmental inipacis. The Trustees, continued aim is to coiiiply with all applicable eiivironmental legislation. PTeveiit pollution and reduce waste wherever possible. Health and safety The Charity is committed to achieving the highest pravticable standards in health and safety manageinent and strives to mak-e all sites and office5 safe eiiviroiiineiits for eii)ploy¢¢s and visitors alike. Human resources The Charity's most unportant resourct is its people. their knowledge at)d experience is crucial to nieeting charitable obje¥tives. Retejition of key staff is critical a]id the Charity has invested in einploymeIit training and development. Volunteers The Charity believes olUnteerIng is a vital and integral part of a healthy society. the Charity has depended on the contribution of volunteeri for many yea]'s and would like to expre.ss our thanks for the contribution they make to the many activities of the Charity. Volunteers for the Charity prllmarily relate to the Trustee.s, Maiiagement Committee aiid meiiibers of warious other spoiting and sub-c.oJiYnittees who volunteer their time ]d efforts for many hours during the year. Plans for the future The Charity has a multi-y'car rolling facilities iniproTrenieiit plan subj¢ct to funding. The Charity has plans to improve the playing surfaces, gyin facilitie.s. and c.ontinue improving the energy efficient lighting of the Charity within the next few y¢ai's. AdditiOiiEsI improveinei)ts to the lounge are4 changing rooins and reiiiauiing disabled facilities remain as n)ore long terni plans. Our ainbition is to make our facilities and coaching expertise as widely aTrailable as possible, and th¢ Charity is continuing to focus on children's and disability activities. In this next year the Charity will focus on driving increased participation at the premises owned by the Charity. The Charity also ainis to matntain its position as a key Provider of sporting and health and fitness services in the area. The Trustees will continue to regularly review risk policies and mitigation strategies. While the Charity has 501ar panels on its roof and provides recjcling facilities, the Charity plans to review these to c.onsider could niore reknj'cling facilities a]id 8re¢i) energy be utilised within the facility and as noted above, will focus on continued improveinent in eiiergy efficient lighting Én the short terni. The Charity has iniplemei)ted a multi-y.ear strategic plan to eiisure its objectives, facilities and activities rematn releant and rneet the ne¢ds of the local community. The cuent strategic plan will be subject to further review by the Trustees aiid staff and consultation with nieiiibers, visitors and other local stakeholders. The plan includes review of facilities, infomiation tecllliology, proiiiotioii and advert15ing of membership and visitor services to ensure the ChEtrity has a focused approach to flltte finajice. direkntion and developmellt. ASM
Lisburn Racquels Club Accoujilsfor tlieyear elided 31 March 2023 Page 6 Trustees, report for the year ended 31 March 2023 (Cont'd) Financial review The accounts are prebented in tl)e standard forn]at required by the Charities Act (Nortliem Tre]]d) 2008 as amended by the Charities Act CNorthern Irelaiid) 2013, the Charities (Accounts ]d Reports) Regulations (Nortliern Irelaijd) 2015 and the Charities SORP (FRS 102) and FRS 102. Results The main purpose of the Charity IS the pi'ovision of sports facilitie5 for meiiibers of the public to play their sports in a well-managed environniei)t. tncome is geiierated by niember's subscriptions and from the hire of facilities to visitors. The Charity r¢corded a surplus of £151,017 (2022: deficit of £17.619) for the fmancial y¢ar. As the Charity is a noi for profit organiiatioii, any surplus is re-invested in iinproving the facilities of the Charity and used to rther proinote and adl'ance th¢ participation in the sports using the facilities. The Charity has no debt with banks but has beiiefitted froin loans from members and friends of the Charity of £4,250 (2022.. £126,750) and a trade loan of £1,949 (2022= £2,099). The cliarity beii¢fitted froin £116,375 (2022: £Nil} of loans being waived diiring the year and donated to the Charity. For furtliei" details refcr to notes 12-14. There are no material uncertainties llnpacting the Charity, bility to coiitinue as a going concern. Reserves policy The Charity's policy is to i'elain a level of free reserw"e> or geIieral reserves whicli matches its needs at the current time and in the fortseeable ttIre. Free rLserves are those unretytricted rese.rves not invest¢d in fixed assets, which are aK"ailable for geiieral use. The free reierves i'equired will be sufficieiil to m¢¢t the running costs for a period equ?valei)t to approxlliiately 12 months of expeiiditure. This policy is reviewed aruiually. Th¢ Trustees have developed a plan to establish and maintain at least this level of reierves. The inain reason for holding re>eTres is to ensure that th¢ Charity has enough resources to fund the programnies it is supporting and to hold sufficient reSOUTces to meet its con]mitments. Th¢ Trustees believe that our Reierves Policy is both responsible and prudent. At 31 Marcli 2023 the general reservkns ale £1,036,166 (2022.. £885.149) and the Charity has net 11siets of £1,036,166 (2022.. £885,149). The main SOUT¥es of fvnding are visitor incorne and income froiii niembers, Subscriptions. In the current year the Charity benefitted froin £Nil (207?: £22,965) COVID-19 grlts, which were primarily UK government Job Retention Scheme grlIs. Risk management The Trustees have a.%sessed tl)e major risk) to which the Charity is exposed, in particular those related to the operatioiis and finances of the Charity and are satisfied that Sj'iteins are in place to mitigate any exposure to the major risks. The Trustee5 perforni an ajinual review of the risks the Charity may face (in particiilar these include disaster planning, hild protection and health and safety issues. as well as internal controls over fjnaiice). The Trustees have established 5J'Stein5 and procedures to mitigate those risk5, and regularly review the impl¢nientation of these procedures to mitigate any potential inipact on the Charity should those risks materialise. The menibers of the Managenieiit Coinmittee also act as the Risk Coinmittee. The key controls used by the Charity include.. Fomial agendas for Trustee meetings, Maiiageineiit Committee, sub-conllnittees and sporting club meetings Coinpr¢lieiisive strdlegic plailliing, budgeting and management accounting Establislied organisational and governance structure and lines of reporting Fonnal writttn policies Hierar¥liiknal authorisatioii and approTral levels. As regards finaiicial risk. the Charity faces the risk that its incon)e is solely dependent on attracting people to use its facilities. It has to compete in a conipetitive market for leisure facilities and therefore has to eiisure its facilities and prices are comparable to its coinpetitors whilst still pronioling its cliarilable objectives. Furthermor¢ expenditure on leisure activities can be affec.ted by external economic conditions and thus the Charity ne.eds to be able to cope with and appropriately respond to changes in demand. ASM
Li,¥burn Racquels Club Accouiilsfor Iheyear ended 31 March 2023 Trustees, report for the year ended 31 March 2023 (Cont'd) Risk management (continued) The natt¢ of the Charity'5 facilities alqo means that there will periodically n¢ed to be significant inveslment to maintain and moderniie the facilities in line with changing customer expectations. The Charity therefore needs to eiisure that there is a long terni robust business plan to eIisure that it is able to coiitinue to op¢i'ate within the Charitable Tntst's aaIlable resources ov¢r the long tetrn. Page 7 Taxation statu5 Lisburn Racquets Club is a charity rec.ognised by HM Reiieiiue & Customs, and, &s such, is entitled to certain tax exeiiiptions on incoine and profits froin inTreslnients and surpliises on any trading activities carried on in fifftherance of its primary objectives, if these profits and surplii>es are applied solely for cliaritable purposes. Statement of Trustees, responsibilities The Truitees are respoiisible for prepariiig the w)iiual report and the ac.counts in accoidance with applicable law and regulations. The Trustees are responsible for preparing the accounts for each financial year which giv¢ a true )d fair view. in accordance with United Kingdom Generally Accepted Accounting Prautice. of the stale of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those accounts, the Trustees are required to.. select suitable acOunting policies and then apply thein consistently; make judgenieiits and estimates that aTe reasonable alld prudeiit. and prepare the ackounts on the going con¥ern basis, unless it is inappropriate to presume that the Charity will ontinue in business, in which case there should be supporting assumptioiis or qualifications as necessary. The Truftees Colif that they have complied with the above requirernents in preparing the accounts. The Tnistees are responsible for keeping proper aciounting records that disclose with rea8onable accuracy at any tinie the fjnancial position of the Charity a]id ei)able thein to ensure that the accounts coniply with the SORP and the Charities Act (Nortlierii Ireland) 2CJ08. They ar¢ also respoiisible for safeguarding the a.ssets of the Charity and hence for taking reasonable steps for the prevei)tion and detec.tion of fraiid and other i]T¢gularities. Statement of disclosure of information to auditor5 So far as each of the Trustees in office at the date of approTral of these accounts is aware.. there is no relevant audit tnfomiation of which the Charity's auditors are unaware. and they have tokeii all the steps that they ought to have taken in order to make themselv¢s aware of ]Y relevant audit information and to establish that the Chai'ity's auditors are aware of that infomiation. Independent auditors The auditors, ASM (D) Ltd, have indicated their willingness to accept office, and a resolution concerning their appointment will be proposed at the Annual General Meeting. On behalf of the Board of Trustees David Meclay Trustee 26 June 2023 ASM
Li.wburn Racqiiels Cliib Accouiitsfor Iheyear elided 31 March 2023 Report of the independent auditors to the members of Lisburn Racquets Club Page 8 Opinion We have aiidit¢d the accounts of Lisburn Racqiiels Club for the year ended 31 March 2023 which comprise the slateineiit of ful]Cial aitivitits, the balankne sheet and the related not¢s. These accoiints have been prepared uiider the accounting policies set out tlierein. In our opinion th¢ accounts.. give a true and faiT view of the state of the Charity's affairs as at 31 March 2023 and of its incoming resources and application of re.sourcts, including its inconie and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdoin Geiierally Acce.pted Accounting Practice. and have been prepared in accordance with the Tequirenients of the Charities Act Ort1]ern Ireland) 2008. Basis of opinion We conducted our audit in accordaiice with Internatioiial Stai)dards on Auditing (UK) (ISAS (UK)) and applicable law. Our respoiisibilities under those standards are further described in the Auditors, responsibilities for th¢ audit of the accouiits section of our report. We are indepeiident of the charity in accordance with the ethical requirements that are relevaiit to our audit of the accounts in the UK, including the FRC's Ethical Standard aiid we have fulfilled our ethical responsibilities in ai-lordance with these reqiiireinents. We believe that the audit evidence we have obtain¢d is sufficient and appropriate to prolde a basis foT our opinion. Conclusions relating to going coneern We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you where: the trustees. use of the going coiiceim basis of acknounting in the pr¢paration of the accounts is not appropriate- or the trustees have not disclosed in the accounts any identified material uncertainties that may cast significant doubt about the cliarities ability to continue to adopt the going concern basis of accounting for a period of at least twelve rnonths from the date when the accounts are authorised for issue. Other information The oiher inforn]8tion comprises the inforniation included in the Trustees, report and accounts, other than the accounts and our auditors, repon thereon. The trustees are responsible for the other infonnation. Our opinion on the accounts does not cover the odier inforniatioii and, exce.pt to the e.xtent otherwise explicitly stated in our report. we do not express any fonn of ai<ura]ice coiiclusioii thereon. In coiinection with OUT aiidit of the accounts, our respoiisibility is to read the other inforniation and. in doing so, con5ideT whether the other inforniation is materially inconsistent with the accounts or our knowledge obtained in the audit or othen¥ise appears to be materially mibstated. If we ideiitify siich material inconsisteiicits or app¥tTent material miJblatements, we are reqiiired to detenIne whether there is a niat¢rial misslateiiieiit in the accouiits or a material miqstateinent of the other infom)ation. If, based on the work we have perfonned. we conclude tliat there is a material mTsslaleineiit of this other information we are required to report that fact. We have nothing to report in this regard. Respeetive responsibilities of Trustees and auditors As explained more fully in the Trustee's Responsibilities Stalenient set out on page 7 the Trustees are responsible for the preparation of the accounts which give a true and fair view. Our rebponsibility is to audit and expreis an opinion on the acc.oiints in accoi'dance with relekant legal ]d regulatory requirements and tntemational Staiidards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's (APB'S) Ethical Staiidards for Auditors. /ASM
Lisburn Racquels Club Accouiilsfor Ilieyear elided 31 March 2023 Report of the independent auditors to the members of Lisburn Racquets Club (cont'd) Page 9 Respective responsibilities of Trustees and auditors cont'd We Teport to you our opinion as to whether the accounts give a tni¢ and fair view and ar¢ properly prepar¢d in accordance with the Charities Act (Northem Ireland) 2008. We also report to you, if in our opinion, thc Charity has not kept proper accounting records or if we have not reieived all the infonnation and explanations we require foT our aiidit. This report is made solely to the club's met]ibers, as a body. in accordance with the Charities Act (Northern Ireland) 2008. Our aiidit work has been undertaken so that we might stale to the Charity's members those matters we are required to stale to tliein in an aiidilor'5 report aiid for no otller purpose. To the fullest ext¢i)t pern]itted by law, we do not accept or assume respoiisibility to any'one other tlian the Charity and the Charity's members as a body, for our audit work. for this report, or for the opinion we have fornied. ASM (D) Ltd Cbartered Accountants and Regist¢red Auditors Dungannon 26 June 2023 ASM
Liyburn Racquels Club Accounisfor Iheyear ended 31 Marcli 2023 Statement of financial activities for the year ended 31 March 2023 Page 10 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Notes Income frotn: Charitable activit1¢5 Donations Capital graiits Oth¢r trading activities Total incoming resources 416,673 116,375 416,673 126,756 15,500 97,960 656,889 327.841 10,381 15,500 97,960 631,008 44,899 372,740 25,881 Expenditure on: Charilable activities Other trading activities Total expenditure (435,685) (70,187) (505,872) (435,685) (70,187) (505,872) (347,952) (42.407) (390,359) Net ineomel(expenditure) Transfer5 between funds Net movement in funds 125,136 25,881 151,017 (17,619) 25,881 151,017 (25,881) 151,017 (17,619) ReconciliatlOD of funds: Total funds brought forward at l April Total funds carried forward at 31 March 885,149 ,036,166 885,149 1,036,166 902,768 885,149 15 All a]nounts above relate to Cljntinuing operat10115 of the Charity. The statement of fuiancial activities aS approved by the Truste¢s on 26 Jwie 2023. Signature: Trustee- David Mcclay ZASM
Lisburn Racqiiels Club Accouiilsfor Iheyear elided 31 Marcli 2023 Page JI Balance sheet at 31 March 2023 Notes 2023 2022 Fixed assets Tangible fixed assets 1,034,637 1,034,637 986,987 986,987 Current assets Stocks Debtors Casli at baith and in hand 9,796 34,382 10,303 55,481 8.150 24.301 48,000 80,451 io Current liabilities Creditors: amounts falling due within one year Net current assets 12 {53,952) 1,529 (68.014) 12,437 Total assets less current liabilities Creditors: amounts falling due after more than one year 1,036,166 999,424 (114.275) 13 Totsl net assets 1,036,166 885.149 The funds of the Charity Total unreitricted ndS 1,036,166 885,149 Total ehArity lunds 15 1,036,166 885,149 The foregollig balance sheet w'as approiied by the TrLLSt¢eb on 26 Jwie 2023. Signature: Trustee- David Mcclay ASM
Lisburn Rqcqiiels Club Accouiitsfor ilieyear epided 31 March 2023 Notes to the accounts Page 12 Statement of accounting policies The following accounting policies have beeii used coiisist¢ntly in dealing with items which are considered material in re.lation to the Charity'5 accounts. Ba.YLv ofpreparation The accounts have betii prepared in aknCOI'dance with the Fuiancial Reporting Stondard applicable in the UK and Republic of Ireland (FRS 102). the Accounting and Reporting by Charities.. Stateinent of Recommended Pratitice applicable to charities preparing their accounts in acvordance with the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) (effective l Janiiary 2015 - (Charities SORP (FRS 102)), and the Charities Act (Northem Ireland) 2008 as ainended by the Charities (Accounts and Reports) Regulations (Nortliern IT¢land) 2015. Lisburn Racquets Club meets the defmition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transRction value unless otherwise stated in the relevant accounting policy. Recoiiciliafion with previous Geiierally AccepledAccountiiig Pracllce In preparing these accoui)Is. the Trustees have consid¢red whether in applying the accounting policies required by FRS 102 and tlie Charities SORP FRS 102 the reslateinent of comparative items w'as required. Incoiiiiiig resources All incoiiiing re.sourLes are included on th¢ state.ment of Finaiicial Activities when th¢ Charity is legally entitled to the income, where there is re.d&oiiable certainty that the rebourie will be received and where th¢ moneiary value can be qu&iLified with reasonable aucurauy. Charilable activities Income is inclllded in the sldlement of f]nancial activities on an accruals basis and net of VA T where applicable. Income is niainly derived from subscripti0115 aiid income from other i)sers of the facility. Incomtng re.sources are deferred where subscTlPtion incorne 15 re¥eived in respect of future periods. Voluntury income Gifts, bequests and donations income is recognis¢d wlien receiN'able. Donations - income by way of doi)ations is included in 1] in the Stat¢rn¢nt of Finaiicial Activities in the year in which th¢y are receivable. Governnieiit aiid otlier graiits Gr<lIlts that relate to specific capital expei)diture are creditwd to the Stat¢nient of Financial Activities when they are receivable ]d trailsfeed from desigiiared re.ierTr¢s to general reserves in line with the depreciation release of tEie eqUi.aleI1t fixed asset. Gra]its that relate to revenue expenditure are credited to the income and expenditure account over the period that the reveiiiie expenditui'e relates to. Jnvesfftieiit Income Inv¢smient income is included wheij receivable by th¢ Charity and consists of bank deposit interest which is included in the statement of f]nancial activities on a reCeiable basis. Incomefrom olher tradlng activities Turnover is the amount derived from the provision of goods and services within the Charity's ordinary activities after the deduction of value added tax. Turnover. which excludes valu¢ added tax, represeiits the value of goods and services supplied. ASM
Lisburn Racquets Club Accoiiii15for iheyear ended 31 March 2023 Notes to the accounts (eont'd) Page 13 Statement of accountlllg policies (cont'd) Resources &Kpeiided All expenditure is accounted for on an aciruals basis and has been clossified under headings that aggregate all costs related to the category. Where Coils Cal0t be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the r¢50urces. Cliarilable activities Th¢.se costs include dire¥t expendire relating to economic developmeiit aiid expenditure in administration of the Charity. Jrrecoverable VA T Any irrecoverable VA T is charged io the siatement of financial activities. or capitalised as part of the cost of the related $s¢t, where appropriat¢. Voluiileers and doiialed services No value of donated services and tin)e is acc.ounÉed for in the accoiints. Peii.slon costs The Charity contributes to a defmed c.ontribution sclieme on belialf of certain eiiiploye¥S. The a.ssets of the scheme are held separately froin those of the Charity in an independeiitly administered fund and contribiitions are charged to the Statement of Financial Activities in the period to which they relate. Fired a,fsets The cost of tangible fixed assels is their pur¥liase cost. tog¢th¢r with any incideiital costs of acquisition. All assets Costing more than £ 1,000 are capitaliscd at cost. Fixed Ass¢ts are reviewed annually for impainnent and appropriat¢ adjustnients made where neknessary. Lwid aiid buildings are not depreciated as the cost relales mainly to land and for the buildings elenient the annual depreciation cliarge would be imiiiatbrial, however, as noted such a.qs¢ts aTe Subject to anniial impairment reviews. Depreciation is calculated so a5 to write off the cost of fixed assets, l¢ss tlieir estiinated residual values. on a straight line basis over the expected useful ec.onoinic lives of the ass¢ts concerned. The principal annual rates used ar¢ as follows.. Fixtures and fitting5 Teimis court dome 5-10 io Siocks Stocks are slated at the loweT of cost and net realisable value. Cost is detennined using the [st in, rst out basis. Provision is made for slow Mo1ng and obsolete stoc.ks. Debtors Debtors are stated after all known bad debis have beeii written off and specific provision has been made against all debts considered doubttsl of collection. 'ASM
Ll.sburn Racque15 Cliib Accoiiiiisfor ilieyear ended 31 March 2023 Notes to the accounts (cont'd) Page 14 Statement of accounting policies {cont'd) Conces.Fionary loaiis Concessionary loans receiTred by the Charity are measured at the amount received. Fuiid accouiiling All funds received are unrestricted in use and are expendable at the discretion of the Trustees in furtherance of the objebtives of the Charity. The Charity aciounts for funds as follows.. ReYlrlc(edfupids Restricted funds art to be used for specified pUoSe$ as laid down by the donor. Expenditure which meets these criteria is identified to the nd, together with a fair allocation of overheai4s and siipport COSts. Generalfuiids General funds are donation5 and other incoming resources r¢¢eived or generated which are expendable at th¢ discretion of the Cliarity in furtherance of its objekntives. Desigiialedfunds Designated funds coniprise capiial graiits that have been expend¢d for their restricted purpose and have been transferred to general funds. Such deSiated funds ar¢ then released to general funds over the useful life of the assets. Income from charitable activities Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Members subscriptions Vi51tor book-ings Tennis coaclillig incoine ReIit of office space by sports bodies COVID-19 grants Lisburn & Castlereagh City Couiicil grdnts Office costs iecliarged to sports bodies Storage reiital Sport5 hall advertising income Solar panel income J 84,623 182,461 9,650 21,236 184,623 182,461 9,650 21,236 144,987 133,894 6,500 10,152 22,965 11,630 2,070 2,000 300 2,703 416,673 11,630 2,070 2,000 300 2,703 416,673 3,463 2,000 300 3,580 327,841 Income from other trading activities Unrestricted funds 2023 Restricted fund5 2023 Total funds 2023 Total funds 2022 Shop sales Bar sales Function hire income 57,903 40,057 57,903 40,057 31,253 13,506 140 44.899 97,960 97,960 ASM
Lisburn Racqiiets Club Accouiitsfor tlie year elided 31 Marcli 2023 Page 15 Notes to the accounts (cont'd) Charitable activities expenditure Unrestrieted funds 2023 Restricted funds 2023 Total runds 2023 Total funds 2022 Wages and salaries Repairs and maintenance Electricity Gas Rates Sports governing bodies affiliation and match fees Internal trophies ]d toumainent Cosls Shuttles and balls iised Adiiiinistration costs Insurance Baith interest and cliarges Telephoiie Statioiiery aiid postage Fees paj'able to the Charity's auditors for the audit of the acc.ounts Legal ]d ollier professional fees Advertising Coits Miscellaneous Costs Depreciation 207,325 46,263 68,353 22,842 11,276 6,848 207,325 46,263 68 J53 22,842 11,276 6,848 174,355 49,354 27,096 19,442 2,820 7,090 3,743 8,250 3,410 18,579 4,805 5,404 1,498 2JOO 3,743 8,250 3,410 18,579 4,805 5,404 1,498 2,300 1,785 6.500 3.617 19,105 2.469 6.312 1,280 2.050 1,173 200 604 22,812 435,685 1,173 200 604 22,812 435,685 2.226 1,819 20,632 347,952 Indenlty iiisuraiice for the Trustees was purchased by the Charity during the year. Other trading activities expenditure Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 202? Shop - cost of goods sold Bar - cost of goods sold BaT - wages and salaTies Bar- repairs Costs Bar- miscellaneous costs Bar- depreciation 42,363 14,463 8,992 240 357 3,772 70,187 42,363 14,463 8,992 240 357 3,772 70,187 23.552 7,900 6,496 330 357 3,772 42,407 ASM
Li.fburn Racquels Club Accouiiisfor Élieyear elided 31 Marcli 2023 Puge 16 Notes to the accounts (cont'd) Employee information 2023 2022 Staff costs: Wages and salaries Social security COSt5 Other peiision costs 200,731 11,981 3,606 216,318 167,292 10,531 3,028 180,851 2023 2022 Number Number The average monthly number of persons employed by the Charity during the year was: Full time staff Part time staff 24 30 24 30 By activity.. Charitable activities Other trading a¥tivities 24 24 30 30 No employees fall in emolumeiits b]d over £60,000 (2022.. £60,000 - none). The Trustees received no reinuneration, no benefits in kind and no reimbursement of expenses during the year (2022.. £Nil). Subscriptions 2023 Number 2022 Number Menibers 698 618 Fixed assets Freehold land and Fixtures buildings and fittings Tennis courts and dome Total C05t At l April 2022 Additions At 31 March 2023 846,410 349,382 69,732 419,114 203,899 4,502 208,401 1,399,691 74.234 1,473,925 846,410 Accumulated depreciation Ai l April 2022 Charge for the year At 31 March 2023 300,843 14,336 315,179 111,861 12,248 124.109 412,704 26,584 439,288 Net book value At 31 March 2023 846,410 846,410 103,935 48,539 84,292 92,038 1,034,637 986.987 At 31 Mar¥h 2022 ASM
Liwburn Racquels Club Accouii15for ilieyear elided 31 March 2023 Page17 Notes to the accounts (eont'd) Fixed assets (cont'd) Land and buildings consist of premises at 36 Belfast Road, Lisburn. All fixed a55ets are value.d at historic cost less depre¥iation. Stocks 2023 2022 Goods for resale 9,796 8,150 10. Debtors 2023 2022 Debtors Prepajments and accrue.d inconie 20,835 14,547 35,382 16,151 8,150 24,301 11. Cash at bank and in hand 2023 2022 Till floats Cuent actrounts 3,065 7,238 10,303 2,739 45,261 48,000 Bank accounts are held with First Tnjst Bank. Market Sqi)are. Lisburn. Bank facilities are secured by letters of joÈnt and several guarant¢e signed by the truste¢s and a letter of giiaraiitee signed by 12 meinbers for £1,000 each. A letter of undertaking is also held in reipetit of the preinisei at Belfast Road, Lisburn. At the year end there are two baiik accounts in the name of Alpha Badminton club that have not beeii included in the above balance, nor have been audited, but which are detiiied to be under the control of the Trustees of Lisburn Racquels Club. The total balanc¢ at the year eiid on these accounts was £50.043 (2022.. £51,733). ASM
Lisburn Racquets Club Accouiitsfor ilieyear ended 31 March 2023 Notes to the accounts (cont'd) Page 18 12. Creditors: amounts falling due within one year 2023 2022 Amounts due within one year Accrued Costs and defe¢d income Deferred ni¢nibers subscriptions Loaiis (note 14) Other taxes and social security 36,482 9,500 6,199 1,771 53,952 43,979 7.000 16,224 811 68,014 Deferred members subscriptions: Balance as at l April 2022 Amount released to incoine eamed froin cllaritable activities Amount deferred in year Balance as at 31 Marcli 2023 7,000 (7,000) 9,500 7,000 (7.000} 7,000 7.000 13. Creditors: amounts falling due after one year 2023 2022 Accruals Loans (note 14) 1,650 112,625 114,275 14. Loans 2023 2022 Loans- Trade Loans - Meinbers and friends 1,949 4,250 6,199 2.099 126,750 128,849 Maturity of debt: L¢ss than one year, OT on deinand Betw¢eii one and two years Beeel7 two and five years After more than five years 6,199 16,2?4 8.375 25,125 79.125 128,849 6,199 There is a trade loan repajable to Tele]it Caledonian Breweries UK Limited a siibsidiary of C&C Group PIC of £1,949 (2022.. £2,099} which is rediiced eauli year based on purchases by the Charity. Loans from meinbers and fri¢nds include inlereit free loans of £4,250 (2022.. £126,750). Some of these lo15 have no red repaymeiit tenns and as such have beeii included as repa>'able wtthin one year, however there has been no indicatioi) that any aniount is expected to be r¢¥alled in thai tiIiie. Th¢re were loaos of £Nil (2022- £121,000) which were being repaid by awiual repayments of £8,375 over 20 years. In December 2022 these loans were donated to the Charity 011 the death of the lender. ASM
Lisburn Racquets Clilb Accoiiiitsfor Ilieyear elided 31 Marcli 2023 Notes to the accounts (cont'd) 15. Puge 19 Analysis of net a.8sets betiveen funds 2023 2022 Unrestrieted funds Tangible fixed a,qsets Net assetsl(liabilities) 1,034,637 1,529 1,036,166 986,987 (101,838) 885.149 Grants received to fund capital expenditure are transferred to designated funds from restriLted funds when expended and then released to general funds over the related a.4seis' useful life. 16. Pension commitments The Charity makes coiitributioiis to a defined contributioii schenie. the a5sels of the sch¢me being held separately from the afisels of the Charity. The pension Cost charge reprtiseiits contributions payable to the scheme and ainounted to £3,606 (2022: £3.028). No contributions (2022.. £Nil) wert payable lo the sclieine at the year ei)d. 17, Related party transactions 2nd ultimate controlling party There is no one person who is the ultiniate controlling party of the Charity, but collectively the ultimate controlling parties are the Trust¢es. 18. Taxation The Charity is a registered cliarity and as such is eiititled to certain tax exeniptions on income and profits from inveslnients, and surpliises on any trading activities carried on in furtherance of the Club's priniary objectiTres, if these profits and surpluses are applied solely for charitable purposes. 19. Contingent liabilities There is a c.onting¢nt liability to repay c¢rtain govemment grants if the Charity fails to honour certain undertakings and conimitsiients. In the opinion of the Truste¢s the temis of letters of offer have beeii coniplied with and no loss is anticipated.