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2025-03-31-accounts

Charity Registration No. 108123

Company Registration No. NI670842 (Northern Ireland)

CI TRUST

REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CI TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees C A Andrews C M Auchmuty T A Clements B Henderson A L McCready L Mercer S A Stevenson J West Secretary A L McCready Charity number 108123 Company number NI670842 Registered office 91 Circular Road Belmont Belfast BT4 2GD Independent Examiner RSM UK Tax and Accounting Limited Chartered Accountants RSM The Ewart, 4th Floor 3 Bedford Square Belfast BT2 7EP

CI TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, the Companies Act 2006 and “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)” second edition - October 2019.

Objectives and activities

CI Trust was incorporated on 6 July 2020 and registered with the Charity Commission for Northern Ireland on 17 September 2021. CI Trust was established with the purpose of facilitating the merger of the Clarence Trust (“Clarence”) and The Church of Ireland Young men’s Society (“CIYMS”) into one new entity. Clarence was an unincorporated charitable entity that oversaw the provision and maintenance of grounds at Circular Road, Belfast, and which provided facilities for a wide range of sporting, cultural and social activities which were overseen by CIYMS (also an unincorporated charitable entity).

The merger of Clarence and CIYMS with CI Trust was completed with effect from 30 September 2024. The objective of this was to rationalise the structure and enable CI Trust to carry out its charitable activities more effectively through a Management Committee based upon the Management Committee which existed under CIYMS.

Aims of the Charity

The principal aim of CI Trust is to provide, maintain and organise facilities to enable its members to partake in a wide range of sporting, leisure and social activities through the Management Committee.

How achievement of aims furthers objectives

The provision and maintenance of quality facilities where members can partake in a wide range of sporting, leisure and social activities is considered key to creating an environment where retention of members and recruitment of new members can enable furthering of objectives.

Strategies for achieving aims and objectives

The main strategies for achieving aims and objectives are (a) the maintenance of existing indoor and outdoor facilities to a very high standard and (b) the provision of new facilities where it is deemed that they are a good fit and will have a positive influence on the aims and objectives.

Criteria to assess success

The principal criteria for assessing success are:

i. retention of members; ii. acquisition of new members; iii. maintenance and replenishment of assets; iv. adherence to budget.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Significant activities undertaken

The completion of the merger of Clarence Trust and CIYMS with CI Trust took place on 30 September 2024.

Achievements and performance

It was a challenging year for the operation of CI Trust. The budgeting process was again difficult due to a landscape of increasing prices for services and utility costs and the actual deficit for the year ended 31 March 2025 was £178k (2024 £105k).

CI TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

Membership

CI Trust had 1,579 members compared to 1,483 in the previous year, an increase of 96. Of the total of members 767 were under the age of 18 taking part in organised activities such as mini rugby, Kwik cricket, mini hockey and junior tennis.

All these programs were organised and managed by volunteers within each section and the Trust is especially grateful to all these members who give of their time and resource to ensure that the children can have fun and learn the rudiments of each sport in a safe and controlled way. Subscriptions remain at an affordable level for all in the community and this is being managed with the help of the volunteers noted above and the current financial assistance from CI Trust.

The table below details the membership within each section of the Society:

2024/25 2023/24
Total Members(Headcount) 1579 1483
Adults 812 693
Children 767 790
Breakdown by Section
Associate/Parent 45 34
Athletics 4 4
Badminton 23 27
Bridge 42 41
Clarence Players 17 21
Cricket 175 199
Fitness 80 54
Indoor Bowls 28 32
Rugby 422 312
Squash 16 18
Tennis 305 315
CI Ladies Hockey 458 389
CI Men’s Hockey 0 57
CI-Knock Bowling 102 111
Table Tennis 9 8

Note: 147 member belong to more than one section.

CI TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

Financial review

As indicated above, the year ending 31 March 2025 was another difficult year for the operation of CI Trust. In summary, income totaled £445k and was up by £58k on the previous year and expenditure totaled £612k which was up by £81k on the previous year.

Income notes:

Expenditure notes:

Balance Sheet

Reserves Policy

CIYMS agreed in March 2022 to introduce a Reserve Levy on all members commencing in April 2022. The Reserve is held in the books of CI Trust to be used for the purpose of investment in facilities by or on behalf of the affiliated sections, as shall be decided by the Management Committee and the Trustees.

Principle sources of income and how expenditure meets objectives

Principle sources of income are:

Expenditure is related to the management and maintenance of the facilities.

Financial effect of significant events

The merger process incurred combined Legal and Professional and Accountancy fees of £72k.

Risk factors

The Board of Trustees has assessed the major risks to which CI Trust is exposed and is satisfied that systems are in place to mitigate exposure to the major risks.

Factors affecting the financial position in future periods

The principal factors which will affect the financial position in future periods include the ability to retain existing members and attract new members, to continue to generate funds from the use of resources and continued income from the CI Trust Investments.

CI TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

Plans for future periods

As growth is limited by the resources available, CI Trust hopes to maintain business at the current level by maintaining numbers involved in each activity and perhaps increasing numbers in the small number of activities where there is capacity and opportunity to do so. This will only be achieved by continuing to invest in resources and ensuring that a quality product at an affordable price is offered to all users of the facilities. CI Trust has, however, continued to let its facilities to some external organisations and has a policy of hiring out its sports facilities to local schools.

Structure, governance and management

The charity is a company limited by guarantee with its governing document being the Articles of Association.

The trustees, who are also the directors for the purpose of company law, and who served during the year were: C A Andrews

C M Auchmuty (Appointed 3 March 2025) B K Clements (Resigned 22 January 2025) T A Clements B Henderson R D Kells (Resigned 31 March 2025) A L McCready L Mercer S A Stevenson J West

There may be no less than 3 and not more than 13 Trustees. New Trustees are appointed by the existing Trustees. The Trustee's policy is to ensure a broad representation of business experience, professional expertise and knowledge of the affairs of the charity on the board.

All of the trustees are members of the company and the liability of members is limited. If the charity is dissolved every member shall contribute up to £1 towards the cost of dissolution.

Decisions are made at trustee meetings by a simple majority if the votes cast.

Key management personnel

The trustees consider the board of directors/trustees as comprising the key management personnel of the charity in charge of directing and controlling the Trust . The running and operating the charity on a day-to-day basis is undertaken by the management committee and senior staff.

All trustees give of their time freely and no trustee remuneration was paid during the year.

The trustees' report was approved by the Board of Trustees.

BL Henderson A L McCready .............................. .............................. A L McCready B Henderson Trustee Trustee Dated: ......................... 18/12/25 Dated:......................... 18/12/25

CI TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CI TRUST

I report on the financial statements of the charity for the year ended 31 March 2025, which are set out on pages 6 - 22.

Respective responsibilities of 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 (‘the Charities Act’).

It is my responsibility to:

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.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.

My role is to state whether any material matters have come to my attention giving me cause to believe:

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.

Since your charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Chartered Accountants Ireland which is one of the listed bodies.

RSM Uk Tax and Accounting Limited

RSM UK Tax and Accounting Limited Chartered Accountants The Ewart, 4th Floor 3 Bedford Square Belfast BT2 7EP

Dated: ......................... 19/12/25

CI TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted
Restricted
Restricted
funds
designated
funds
capital
funds
funds
Notes
£
£
£
£
Income from:
Donations and
legacies
3
263,887
15,674
-
-
Charitable activities
4
71,607
-
48,669
-
Other trading
activities
5
1,606
-
-
-
Investments
6
43,424
534
129
-
Total income
380,524
16,208
48,798
-
Expenditure on:
Raising funds
7
11,179
-
-
-
Charitable activities
8
561,714
-
39,601
-
Total expenditure
572,893
-
39,601
-
Net (gains)/losses
on investments
12
(11,039)
-
-
-
Net movement in
funds
(203,408)
16,208
9,197
-
Transfers between
funds
1,486
-
-
(1,486)
Net movement in funds
(201,922)
16,208
9,197
(1,486)
Total funds brought
forward
18, 19 &
20
3,125,517
32,823
48,783
9,444
Total funds carried
forward
2,923,595
49,031
57,980
7,958		 Total
2025
£
279,561
120,276
1,606
44,087
445,530
11,179
601,315
612,494
(11,039)
(178,003)
-
(178,003)
3,216,567
3,038,564		 Total
2024
£
248,836
88,333
1,906
48,604
387,679
9,203
522,037
531,240
38,659
(104,902)
-
(104,902)
3,321,469
3,216,567

All income and expenditure derive from continuing activities.

Company Registration No. NI670842

CI TRUST

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Capital funds
Restricted capital funds
18
Income funds
Restricted funds
19
Unrestricted funds - designated
General unrestricted funds
20		 2025
£
£
1,454,842
1,434,975
2,889,817
33,193
165,157
198,350
(49,603)
148,747
3,038,564
7,958
57,980
49,031
2,923,595
3,038,564		 2024
£
£
1,609,224
1,440,670
3,049,894
55,030
160,885
215,915
(49,242)
166,673
3,216,567
9,444
48,781
32,823
3,125,519
3,216,567		 2024
£
£
1,609,224
1,440,670
3,049,894
55,030
160,885
215,915
(49,242)
166,673
3,216,567
9,444
48,781
32,823
3,125,519
3,216,567
3,049,894
166,673
3,216,567
9,444
48,781
32,823
3,125,519
3,216,567

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

18/12/25

The financial statements were approved by the Trustees on ............................. and signed on their behalf by:

..............................
BL Henderson		 ..............................
A L McCready
B Henderson A L McCready
Trustee Trustee

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CI TRUST

1 Accounting policies

Charity information

CI Trust ("the Charity") is a private company limited by guarantee and a registered charity set up under its Articles of Association. The registered office is 91 Circular Road, Belfast, BT4 2GD.

Accounting convention

The financial statements have been prepared in accordance with CI Trust's Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements have been prepared under the historical cost convention with the exception of fixed asset investments which are held at fair value.

On the 1st of October 2024, three organisations merged into the CI Trust, an organisation established in Belfast on the 6th July 2020. The charity number of the merged organisation is 108123. The charities that merged are listed below:

The purpose of The Clarence Trust was to aid the spiritual, intellectual and physical improvement of its members; the development of an attitude of responsibility amongst members for the welfare of others; the support of good community relations; the furthering of a spirit of tolerance for sincerely-held beliefs of all persons of goodwill; and the promoting of fellowship within the Trust and with other bodies which are based on principles related to those of the Trust.

The purpose of CIYMS was to provide, maintain and organise facilities to enable its members to partake in a wide range of sporting, leisure and social activities.

Going concern

At the time of approving the financial statements, the trustees have an expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

CI TRUST

1 Accounting policies (Continued)

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

The restricted capital fund relates to assets purchased for upgrades to the club house. The balance is being reduced as the assets depreciate by transferring an equivalent amount between capital funds and the unrestricted funds.

Income

Income from donations, legacies and charitable activities is recognised when the charity is legally entitled to it and after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Investment income

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.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by the investment advisor of the dividend yield of the investment portfolio.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised when there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on charitable activities includes costs undertaken to further the purposes of the charity.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which supports the Charity's artistic programmes and activities. These costs have been allocated to expenditure on charitable activities. The basis on which support costs have been allocated are set out in the notes to the accounts.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

CI TRUST

1 Accounting policies (Continued)

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 4% Straight Line Plant and equipment 20% Straight Line Fixtures and fittings 15% Straight Line Computers 33.33% Straight Line Grounds equipment 10-20% straight line Tennis Dome 4% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

Taxation

The Charity meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is partially exempt from taxation in respect of income or capital gains to the extent that such income or gains are applied exclusively to charitable purposes.

Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

In the application of the charity's accounting policies, there are no significant judgements or estimates included in the financial statements.

3 Donations and legacies

Unrestricted
Unrestricted
Restricted
Endowment
funds
funds
funds
funds
designated
general
£
£
£
£
Donations and gifts
55,311
-
-
-
Membership fees
208,576
15,674
-
-
Other
-
-
-
-
263,887
15,674
-
-
For the year ended 31
March 2024
206,047
15,102
17,777
9,910		 Total
2025
£
55,311
224,250
-
279,561		 Total
2024
£
37,519
207,817
3,500
248,836
248,836

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

4 Charitable activities

Unrestricted
Restricted
funds
funds
£
£
Charitable rental income
105
-
Other income
71,502
48,669
71,607
48,669
Analysis by fund
Unrestricted funds
71,607
-
Restricted funds
-
48,669
71,607
48,669
For the year ended 31 March 2024
Unrestricted funds
39,830
-
Restricted funds
-
48,503
39,830
48,503		 Total
2025
£
105
120,171
120,276
71,607
48,669
120,276		 Total
2024
£
105
88,228
88,333
39,830
48,503
88,333

5 Other trading activities

2025 2024
£ £
Vending machine income 1,606 1,906

All income from the current and previous year was unrestricted.

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Investments

Unrestricted
Unrestricted
Restricted
funds
funds
funds
designated
£
£
£
Income from listed investments
33,493
-
-
Interest receivable
9,931
534
129
43,424
534
129
For the year ended 31 March 2024
48,236
257
111		 Total
2025
£
33,493
10,594
44,087		 Total
2024
£
36,633
11,971
48,604
48,604

7 Raising funds

Investment management 2025
£
11,179
11,179		 2024
£
9,203
9,203

All income from the current and previous year was unrestricted.

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8
Charitable activities
Staff costs
Depreciation and
impairment
Telephone
Printing, postage and
stationery
Rent and Insurance
Rates and water charges
Electricity, oil and gas
Cleaning materials
Grounds and building
maintenance
Hire of pitches and
facilities
Miscellaneous
BSC subscriptions
Fitness suite and
induction
Vending machine
Bank charges
Gym project
Share of support costs
(see note 9)
Share of governance
costs (see note 9)
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31 March
Unrestricted funds
Restricted funds		 CIYMS
£
140,950
164,685
2,425
3,859
3,652
3,721
49,699
4,983
68,026
11,714
8,976
885
557
1,570
345
-
466,047
23,315
45,669
535,031
535,031
-
535,031
2024
298,365
-
298,365		 Tennis
Coaching
£
35,026
-
-
-
-
-
-
-
-
-
4,226
-
-
-
349
-
39,601
-
-
39,601
-
39,601
39,601
166,419
36,116
202,535		 Gym
Project
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,360
17,777
21,137		 CI Trust
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
141
26,542
26,683
26,683
-
26,683
-
-
-		 Total
2025
£
175,976
164,685
2,425
3,859
3,652
3,721
49,699
4,983
68,026
11,714
13,202
885
557
1,570
694
-
505,648
23,456
72,211
601,315
561,714
39,601
601,315		 Total
2024
£
151,238
136,826
4,194
3,966
11,300
3,356
56,446
7,308
71,364
10,704
5,423
863
518
1,477
668
17,777
483,428
22,447
16,162
522,037
468,144
53,893
522,037

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

9 Support costs

Support costs
Governance
costs
£
£
Insurance
23,294
-
Bank charges
162
-
Accountancy fees
-
22,414
Independent examination
-
3,090
Legal and professional
fees
-
46,707
23,456
72,211
Analysed between
Charitable activities
23,456
72,211		 2025
£
23,294
162
22,414
3,090
46,707
95,667
95,667		 2024
Basis of allocation
£
22,288
33
7,660 Governance
900 Governance
7,728
Governance
38,609
38,609

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. No trustees' expenses were reimbursed during the current or prior year.

11 Employees

Number of employees

The average monthly number employees during the year was:

CIYMS
Tennis coaching
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
5
10
15
2025
£
158,605
11,597
5,774
175,976		 2024
Number
6
10
16
2024
£
136,550
9,413
5,275
151,238

There were no employees whose annual remuneration was £60,000 or more.

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

12
Net (losses)/gains on investments
Revaluation of investments
Gain/(loss) on sale of investments		 Total
Total
2025
2024
£
£
(27,640) 106,283
16,601 (67,624)
(11,039) 38,659

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13 Tangible fixed assets

Freehold land
and buildings
£
Cost
At 1 April 2024
3,887,177
Additions
3,600
At 31 March 2025
3,890,777
Depreciation and impairment
At 1 April 2024
2,375,874
Depreciation charged in the year
153,505
At 31 March 2025
2,529,379
Carrying amount
At 31 March 2025
1,361,398
At 31 March 2024
1,511,305		 Plant and
equipment
Fixtures and
fittings
£
£
27,562
64,492
878
5,192
28,440
69,684
18,352
60,958
2,271
2,093
20,623
63,051
7,817
6,633
9,162
3,533		 Computers
£
6,315
220
6,535
4,421
935
5,356
1,179
1,944		 Grounds
equipment
Tennis Dome
£
£
41,070
145,954
414
-
41,484
145,954
41,070
62,674
41
5,838
41,111
68,512
373
77,442
-
83,280		 Total
£
4,172,570
10,304
4,182,874
2,563,349
164,683
2,728,032
1,454,842
1,609,224

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

14 Fixed asset investments

Listed
investments
£
Cost or valuation
At 31 March 2025 1,440,670
Additions 229,375
Valuation changes (27,640)
Gain on investment 16,601
Disposals (224,031)
At 31 March 2025 1,434,975
Carrying amount
At 31 March 2025 1,434,975
At 31 March 2024 1,440,670

All investments are carried at their fair value. Investments in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds are at the bid price. Asset sales and purchases are recognised at the date of trade at cost.

15
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
16
Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2025
£
32,681
55
457
33,193
2025
£
11,413
8,171
1,646
28,373
49,603		 2024
£
53,002
1,866
162
55,030
2024
£
35,805
2,582
1,121
9,734
49,242

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17

Financial instruments 2025 2024
£ £
Carrying amount of financial assets
Instruments measured at fair value through profit or loss 1,434,975 1,440,670

18 Restricted capital funds

The restricted capital fund relates to various donations received for the purchase of tangible fixed assets. The balance is being reduced as the assets depreciate by transferring an equivalent amount between capital funds and unrestricted funds.

Balance at 1
April 2024
£
Restricted capital funds
9,444
9,444		 Movement in funds
Income
Expenditure
£
£
-
-
-
-		 Transfers
Balance at 31
March 2025
£
£
(1,486)
7,958
(1,486)
7,958		 Transfers
Balance at 31
March 2025
£
£
(1,486)
7,958
(1,486)
7,958
7,958

19 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at 1 Income ExpenditureBalance at 31
April 2024 March 2025
£ £ £ £
Tennis club 48,783 48,798 (39,601) 57,980

20 Unrestricted funds

The unrestricted funds of the charity are as follows:

Balance at 1
April 2024
£
Unrestricted
reserves
3,125,517
Designated
reserves
32,823
3,158,340		 Movement in funds
Income
Expenditure
Transfers
Revaluations,
gains and losses
Balance at 31
March 2025
£
£
£
£
£
380,524
(572,893)
1,486
(11,039)
2,923,595
16,208
-
-
-
49,031
396,732
(572,893)
1,486
(11,039)
2,972,626		 Movement in funds
Income
Expenditure
Transfers
Revaluations,
gains and losses
Balance at 31
March 2025
£
£
£
£
£
380,524
(572,893)
1,486
(11,039)
2,923,595
16,208
-
-
-
49,031
396,732
(572,893)
1,486
(11,039)
2,972,626
2,972,626

The Designated fund has been set up for the specific purpose of replacement of long term assets.

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

21
Analysis of net assets between funds
Unrestricted
reserves
£
Fund balances at 31 March
2025 are represented by:
Tangible assets
1,446,884
Investments
1,434,975
Current assets/(liabilities)
41,736
2,923,595
Unrestricted
reserves
£
Fund balances at 31 March
2024 are represented by:
Tangible assets
1,599,780
Investments
1,440,670
Current assets/(liabilities)
100,169
3,140,619		 Designated
reserves
Restricted fund
Restricted
capital accounts
£
£
£
-
-
7,958
-
-
-
49,031
57,980
-
49,031
57,980
7,958
Designated
reserves
Restricted fund
Restricted
capital accounts
£
£
£
9,444
17,721
48,783
17,721
48,783
9,444		 Total
£
1,454,842
1,434,975
148,747
3,038,564
Total
£
1,609,224
1,440,670
166,673
3,216,567

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

22 Merger information

CI Trust Pre merger Post merger
30/09/2024 31/03/2025
Current assets
Cash at bank and in hand 455 436
455 436
Creditors: amounts falling due within one year (6,104) (11,413)
Net current assets (5,649) (10,977)
Total assets less current liabilities (5,649) (10,977)
Unrestricted funds (5,649) (10,977)
(5,649) (10,977)
Clarence Trust Pre merger Post merger
30/09/2024 31/03/2025
Fixed assets
Tangible assets 1,519,019 1,438,840
Current assets
Debtors 18,415 -
Investments 1,476,172 1,434,975
Cash at bank and in hand 24,614 35,938
1,519,201 1,470,913
Creditors: amounts falling due within one year (16,546) -
Net current assets 1,502,655 1,470,913
Total assets less current liabilities 3,021,674 2,909,753
Restricted fund 2,935 2,539
Unrestricted funds - general 3,018,739 2,907,214
3,021,674 2,909,753

CI TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

22 Merger information (Continued)

CIYMS Pre merger Post merger
30/09/2024 31/03/2025
Fixed assets
Tangible assets 17,045 16,002
Current assets
Debtors 31,992 33,193
Cash at bank and in hand 105,812 128,783
137,804 161,976
Creditors: amounts falling due within one year (21,521) (38,190)
Net current assets 116,283 123,786
Total assets less current liabilities 133,328 139,788
Restricted capital fund 5,933 7,958
Restricted fund 48,944 55,441
Unrestricted funds - designated 33,019 49,031
Unrestricted funds - general 45,432 27,358
133,328 139,788