**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).
- 1 -
## **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.
- 2 -
## **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:
- Members subscriptions of £224k increased from £208k previous year;
- Donations and Gifts of £55k increased from £38k previous year;
- Income from Investments of £44k decreased from £49k previous year;
- Other Income of £120k increased from £88k previous year.
## Expenditure notes:
- Wages, NIC contributions and pension costs of £176k increased from £151k previous year;
- Depreciation and Impairment charges of £165k increased from £137k previous year;
- Gym project costs of £18k incurred in 2024 have decreased to nil in 2025;
- Electricity, oil and gas charges of £50k decreased from £56k previous year;
- Grounds and Building Maintenance Costs of £68k decreased from £71k previous year;
- Hire of pitches and facilities (£12k) increased from £11k previous year;
- Insurance costs of £23k increased from £22k previous year;
- Governance costs of £72k increased from £16k previous year. This includes Accountancy Fees and Legal and Professional Fees and the increase from 2024 was primarily due to costs relating to the merger of Clarence and CIYMS with CI Trust.
## Balance Sheet
- The balance sheet remains reasonably strong; all debtors are current and controlled and liabilities all relate to normal trading accounts. The balance in the new Designated Reserve Account at the 31 March 2025 was £49k.
- In 2024 a new capital income fund was established. This had a balance of £8k at 31 March 2025.
## **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:
- i. Members’ subscriptions; ii. Donations; iii. Investment income; iv. Grants.
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.
- 3 -
## **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
- 4 -
## **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:
- examine the accounts under section 65 of the Charites Act;
- follow the procedures laid down in the general Directions given by the Charity Commission under section 65 (9)(b) of the Charities Act; and
- 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.
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:
- That accounting records were not kept in accordance with section 63 of the Charities Act
- That the accounts do not accord with those accounting records
- That the accounts do not comply with the accounting requirements of the Charities Act
- 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.
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
- 5 -
## **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.
- 6 -
**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**|
- 7 -
**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:
- CI Trust
- The Clarence Trust
- Church of Ireland Young Man Society (CIYMS)
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.
- 8 -
**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.
- 9 -
**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.
- 10 -
## **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|
- 11 -
## **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.
- 12 -
## **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.
- 13 -
## **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|
- 14 -
## **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.
- 15 -
## **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|
|---|---|
- 16 -
## **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|
- 17 -
## **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|
- 18 -
## **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.
- 19 -
## **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|
- 20 -
## **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|
- 21 -
## **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|
- 22 -