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COMPANY REGISTRATION NUMBER: 06768060
CHARITY REGISTRATION NUMBER: 1137372
4 Recreation Ltd
Company Limited by Guarantee
Unaudited Financial Statements
31 December 2023
4 Recreation Ltd
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2023
Page
Trustees' annual report (incorporating the director's report)
1
Statement of financial activities (including income and expenditure account)
3
Statement of financial position
4
Notes to the financial statements
5
4 Recreation Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2023 .
Reference and administrative details
Registered charity name
4 Recreation Ltd
Charity registration number
1137372
Company registration number
06768060
Principal office and registered
Sports Pavilion
office
Bingham Road
Radcliffe On Trent
Nottingham
NG12 2GP
The trustees
Mr A F R Seyfert
Mr M Aspley
Mr R Bright
Mr I Willis
Mr A Rybacki
(Resigned 21 March 2023)
Accountants
ASH Accounting (Bingham) Ltd
Licensed Accountants
Fairfield House
1 Fairfield Street
Bingham
Nottingham
NG13 8FB
Structure, governance and management
The company was incorporated on 8 December 2008 as a private company limited by guarantee. It is governed by its Memorandum and Articles of Association.
Objectives and activities
The company was formed to promote and assist in the provision of recreation or other leisure activities for the inhabitants of Radcliffe-on-Trent and the surronding area. On 1 January 2009 it took over the responsibility for the operation and maintenance of the Bingham Road playing fields and the related buildings in Radcliffe-on-Trent. This operation is continuing.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
The trustees' annual report and the strategic report were approved on 6 March 2024 and signed on behalf of the board of trustees by:
Mr A F R Seyfert
Mr M Aspley
Trustee
Trustee
4 Recreation Ltd
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 December 2023
2023
2022
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
11,107
11,107
13,653
Investment income
6
376
376
68
--------
--------
--------
Total income
11,483
11,483
13,721
--------
--------
--------
Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies
7
15,822
15,822
14,048
--------
--------
--------
Total expenditure
15,822
15,822
14,048
--------
--------
--------
--------
--------
--------
Net expenditure and net movement in funds
( 4,339)
( 4,339)
( 327)
--------
--------
--------
Reconciliation of funds
Total funds brought forward
44,451
44,451
44,779
--------
--------
--------
Total funds carried forward
40,112
40,112
44,452
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
4 Recreation Ltd
Company Limited by Guarantee
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Debtors
10
745
3,615
Cash at bank and in hand
39,826
41,197
--------
--------
40,571
44,812
Creditors: amounts falling due within one year
11
459
360
--------
--------
Net current assets
40,112
44,452
--------
--------
Total assets less current liabilities
40,112
44,452
--------
--------
Net assets
40,112
44,452
--------
--------
Funds of the charity
Unrestricted funds
40,112
44,452
--------
--------
Total charity funds
12
40,112
44,452
--------
--------
For the year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 6 March 2024 , and are signed on behalf of the board by:
Mr A F R Seyfert
Mr M Aspley
Trustee
Trustee
4 Recreation Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Sports Pavilion, Bingham Road, Radcliffe On Trent, Nottingham, NG12 2GP.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
Being limited by guarantee, none of the directors has any interest in the capital of the company, but all are members. The company is limited by guarantee. The liability of each member is limited to £10.
5. Donations and legacies
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Donations
Hiring fees
11,107
11,107
11,153
11,153
Grants
Grants
2,500
2,500
--------
--------
--------
--------
11,107
11,107
13,653
13,653
--------
--------
--------
--------
6. Investment income
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Bank interest receivable
376
376
68
68
----
----
----
----
7. Costs of raising donations and legacies
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Costs
15,822
15,822
14,048
14,048
--------
--------
--------
--------
8. Staff costs
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
9. Trustee remuneration and expenses
Trustees receive no remuneration for charity activities.
10. Debtors
2023
2022
£
£
Trade debtors
745
1,115
Other debtors
2,500
----
-------
745
3,615
----
-------
11. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
459
360
----
----
12. Analysis of charitable funds
Unrestricted funds
At 1 January 2023
Income
Expenditure
At 31 December 2023
£
£
£
£
General funds
11,483
(15,822)
(4,339)
Unrestricted fund
44,451
44,451
--------
--------
--------
--------
44,451
11,483
(15,822)
40,112
--------
--------
--------
--------
At 1 January 2022
Income
Expenditure
At 31 December 2022
£
£
£
£
General funds
13,721
(14,048)
(327)
Unrestricted fund
44,779
44,779
--------
--------
--------
--------
44,779
13,721
(14,048)
44,452
--------
--------
--------
--------