REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
MORETON MORRELL TENNIS COURT CLUB LTD |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
MORETON MORRELL TENNIS COURT CLUB LTD |
MORETON MORRELL TENNIS COURT CLUB LTD |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 14 |
MORETON MORRELL TENNIS COURT CLUB LTD (REGISTERED NUMBER: 12013036) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
Purposes of the charity |
The Club is established for the following purposes, defined in the Articles of Association: |
a) The promotion of community participation in healthy recreation, in particular by the provision of facilities for the playing of Real Tennis in the Midlands of England. |
b) To conserve, preserve and improve for the public benefit as a building of historic interest the Real Tennis Court at Moreton Morrell, Warwickshire CV35 9AL, and to educate the public about the history and heritage of the building. |
The trustees set two financial priorities for the year: to maintain a cash reserve of twelve-months' operating costs, and to seek additional funding and/ or generate sufficient profit to maintain the historic tennis court building. Alongside these financial priorities we sought to maintain our focus on increasing membership and widening the schools programmes and community access offered by the charity in order to meet the needs of a diverse range of individual users and groups. |
Activities in relation to those purposes |
The main activities in support of the purposes are: |
- Provision of a serviceable playing facility for real tennis |
- Provision of services to support tennis activity, namely lessons, court booking management, manufacture of balls, sale of equipment and membership management |
- Maintenance of the tennis court building, including reactive and emergency works and planned maintenance based on a quinquennial building survey |
- Fundraising to augment subscriptions and court fees, including events and merchandise sales. |
Public benefit |
The Trustees confirm that they have complied with their duty under Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. |
Volunteers |
The charity does not have any volunteers other than the trustees and ad-hoc members of the board. |
MORETON MORRELL TENNIS COURT CLUB LTD (REGISTERED NUMBER: 12013036) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
We started the year with 197 members across a number of categories and finished the year with 199. Membership activities attracted 8 new members and 6 members left. Within these numbers a positive is that there was a net gain of 3 full members. Reasons for leaving continue to be almost entirely due to infirmity / injury or moving away from the area. A policy of proposing to those leaving that they convert to Friends of the Court in order to stay in touch has been well received and has provided welcome extra support through the small annual donation. |
This year we returned to full operations after the significant closures of the pandemic. Various tournaments were restarted and the club resumed a normal profile of tennis. Across the year the court utilisation was healthy though less than last year: 75% (2021: 83%) for weekdays and 46% (2021: 50%) for weekends, giving an overall figure of 68% (73% last year). It is felt that last year's performance was the result of a pent up demand for tennis following lockdown closure and despite the reduction, the performance is still reasonable in the context of historic levels. |
The building was maintained through the period with various reactive works including some flat roof leakage repairs and a redecorated main corridor. The quinquennial building report arrived in January 2022 and has been digested to develop a 5 -year building maintenance plan. Thankfully, the report contained no big surprises. A number of small urgent actions were (or had already been) addressed and planning started for more significant works to maintain the basement joists, external wall copings and rainwater goods. Maintenance of ground floor windows is also scheduled for the coming year. |
Fundraising activities to replenish the costs of the floor restoration continued through merchandising and small events plus a major event: the Gala Dinner in June, which had been delayed by the pandemic for the previous two years. The dinner was a great success, both socially and financially. As well as providing an enjoyable event for members, it was good marketing for the club (to members' guests) and through ticket sales and donations to the auction raised just over £30,000 for club funds. |
In the context of promoting recreation and particularly real tennis, we have held various activities aimed at new members and have had a focus on junior take up of the game. Junior Development, started late 2021, continued in various forms through 2022, exploring various ways of encouraging junior participation. Being a rural club, remoteness is a challenge for junior attendance if parents are not committed. Nevertheless, some success has been achieved with a mix of frequency across a small group of players. Dialogue with the nearby Agricultural College (who have students living on site) has been initiated and early signs are hopeful. The Board continue to explore new ways of raising awareness and encouraging access. |
FINANCIAL REVIEW |
Financial position |
The trustees are pleased to report that the charity's financial position is good. The very successful Gala Dinner fund raising event held in June raised approximately £30,000 which replenished our reserves and has put the club into a position where it meets its first financial priority in having twelve months of operating costs in reserve. |
The trustees consider this level of reserves is important to allow the club to be able to adequately maintain the club's building in the event of a significant down-turn in income and survive any unforeseen event such as a second pandemic or further lockdowns. |
The club also continues to raise voluntary donations from members and other events to ensure the historic building is adequately maintained. in 2022 £10,933 (2021: £11,323) of such donations were received. |
The total net surplus for the period was £37,898 (2021: £284,247 which included £250,000 of donation in the form of the freehold property). Net reserves amounted to £446,820 (2021: £409,103). |
Investment policy and objectives |
The Charity's memorandum and articles of association authorise the trustees to invest or deposit funds as may be thought fit. |
MORETON MORRELL TENNIS COURT CLUB LTD (REGISTERED NUMBER: 12013036) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FINANCIAL REVIEW |
Reserves policy |
The trustees have a policy of maintaining a level of unrestricted reserves which should ensure that there are adequate funds to meet anticipated future liabilities. In practice, the trustees consider that holding reserves equivalent to a minimum of twelve months' core costs (considered to be non-operational minimum annual upkeep costs) excluding funds tied up in fixed assets, should provide sufficient funds to respond to adverse changes in the charity's funding or activities. |
At 31st December 2022, total reserves stood at £446,821 (2021: £409,103). £361,700 (2021: £364,856) of this is represented by the freehold property and the remaining £85,121 (2021: £44,247) are un-restricted and held to meet the financial priorities mentioned above. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
Trustees are appointed in accordance with the Articles of Association. |
Organisational structure |
The finances and performance of the Club is overseen by the trustees who meet quarterly but more frequently when required to respond to changes in government guidance, to monitor the work of the club and how we are meeting our charitable aims. |
The trustees have employed a head professional, an assistant professional and an administrative assistant. We also have employed a number of individuals to cover cleaning and building activities who are all self-employed. |
Induction and training of new trustees |
It is the charity's policy that new Trustees undergo an orientation process to brief them on their legal obligations under charity law, the charity's governing documents, the committee decision making process, the business plan and recent financial performance of the charity. Trustees are encouraged to attend any appropriate external training events that will assist them in carrying out their role. |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
MORETON MORRELL TENNIS COURT CLUB LTD (REGISTERED NUMBER: 12013036) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent Examiner |
Murphy Salisbury Limited |
Chartered Accountants |
Celixir House |
Stratford Business and Technology Park |
Stratford-upon-Avon |
Warwickshire |
CV37 7GZ |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
MORETON MORRELL TENNIS COURT CLUB LTD |
Independent examiner's report to the trustees of Moreton Morrell Tennis Court Club Ltd ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Mark Bullock FCA |
ICAEW |
Murphy Salisbury Limited |
Chartered Accountants |
Celixir House |
Stratford Business and Technology Park |
Stratford-upon-Avon |
Warwickshire |
CV37 7GZ |
6 March 2023 |
MORETON MORRELL TENNIS COURT CLUB LTD |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2022 | 2021 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Investment income | 3 |
Other income |
Total |
EXPENDITURE ON |
Raising funds | 4 |
Charitable activities |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 409,103 |
MORETON MORRELL TENNIS COURT CLUB LTD (REGISTERED NUMBER: 12013036) |
BALANCE SHEET |
31 DECEMBER 2022 |
2022 | 2021 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Stocks | 9 |
Debtors | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 12 | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 409,103 |
TOTAL FUNDS | 409,103 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
MORETON MORRELL TENNIS COURT CLUB LTD (REGISTERED NUMBER: 12013036) |
BALANCE SHEET - continued |
31 DECEMBER 2022 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
MORETON MORRELL TENNIS COURT CLUB LTD |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
MORETON MORRELL TENNIS COURT CLUB LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | OTHER TRADING ACTIVITIES |
2022 | 2021 |
£ | £ |
Merchandise sales |
Bar Sales |
Sponsorships | 500 | 1,000 |
3. | INVESTMENT INCOME |
2022 | 2021 |
£ | £ |
Interest receivable - trading | 210 | 6 |
4. | RAISING FUNDS |
Investment management costs |
2022 | 2021 |
£ | £ |
Support costs | - | 1,842 |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2022 | 2021 |
£ | £ |
Depreciation - owned assets |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021. |
MORETON MORRELL TENNIS COURT CLUB LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 124,856 | - |
TOTAL FUNDS CARRIED FORWARD | 409,103 | - | 409,103 |
8. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2022 |
Additions |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Included in cost or valuation of land and buildings is freehold land of £250,000 (2021 - £250,000) which is not depreciated. |
MORETON MORRELL TENNIS COURT CLUB LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
9. | STOCKS |
2022 | 2021 |
£ | £ |
Stocks |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Accrued expenses |
Deferred government grants |
12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Accruals and deferred income |
13. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 409,103 | 37,718 | 446,821 |
TOTAL FUNDS | 37,718 | 446,821 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 158,471 | (120,753 | ) | 37,718 |
TOTAL FUNDS | ( |
) | 37,718 |
MORETON MORRELL TENNIS COURT CLUB LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
13. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.21 | in funds | 31.12.21 |
£ | £ | £ |
Unrestricted funds |
General fund | 124,856 | 284,247 | 409,103 |
TOTAL FUNDS | 124,856 | 284,247 | 409,103 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 376,974 | (92,727 | ) | 284,247 |
TOTAL FUNDS | 376,974 | (92,727 | ) | 284,247 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.21 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 124,856 | 321,965 | 446,821 |
TOTAL FUNDS | 124,856 | 321,965 | 446,821 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 535,445 | (213,480 | ) | 321,965 |
TOTAL FUNDS | 535,445 | (213,480 | ) | 321,965 |
MORETON MORRELL TENNIS COURT CLUB LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
14. | RELATED PARTY DISCLOSURES |