Charity registration number 1097049
Company registration number 02149293 (England and Wales)
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr A S Young
Mr I Davis
Mr P Messenger
Mr P Snabel
Mr A C Simmons
Mr A J Fearnley
Mr P E Millman
Mr R Pain
(Appointed 19 June 2024)
Secretary
Mr A C Simmons
Charity number
1097049
Company number
02149293
Registered office
Church Road
Crowborough
East Sussex
England
TN6 1BN
Independent examiner
Oliver Read FCCA ACA
James Todd & Co Limited
Drayton House
Drayton Lane
Chichester
West Sussex
England
PO20 2EW
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Statement of cash flows
6
Notes to the financial statements
7 - 19
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

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 governing document, 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)" (effective 1 January 2019).

Objectives and activities

The objects of the Charity are to establish, manage and conduct a sports club and to promote the playing of tennis, squash, racquet ball, and other similar sporting pursuits and provide instruction, tuition, conveniences, sports, games and recreations for members of the club and their friends.

The Club Mission Statement is 'The purpose and aims of the club is to contribute to the life of the local community by providing a friendly, sporting and social environment, open to all. Where people of all ages may socialise, exercise and be helped and encouraged to play a variety of racket sports to their own level of individual talent, comfort and ambition, including providing the opportunity to represent the club competitively. All provided at a cost that is affordable and gives good value and within an environment of first class facilities.'

The polices adopted in furtherance of these objectives is to conduct an independent racketsports club for both members and visitors offering a variety of racket sports with plans to extend the offering with installing 2 Pickleball courts next year.

Public benefit

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

Achievements and performance
Significant activities and achievements against objectives

The Board is pleased to report that the club continues to move forward from a sporting perspective. Membership including Pay and Play is an upward trajectory and the range of coaching, tournaments and internal leagues continues to expand with a resultant increase in racket sport participation.

In September 2023, as planned, we installed two Padel courts on courts 5 & 6 .

Financial review

The budget was set to generate funds over the course of the year to enable operational expenses to be met including meeting the £15,600 court sinking fund requirement and to provide for the scheduled repayments of the LTA loan. This has been achieved this year with a surplus income of £28,431 exceeding the sinking fund requirement by £12,831.

Surplus income for the year ending 31 March 2024 amounted to £34,326 before allowing for depreciation and £28,431 surplus after depreciation (2023: Surplus £22,980).

Unrestricted reserves carried forward are £551,375 (2023: £522,944) which includes liquid funds of £111,569 (2023: £77,170).

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Plans for future periods

The charity is investigating the possibility of installing 2 Pickleball courts on courts 5 & 6 adjacent to the new Padel courts. We also plan to resurface tennis court 9 and repaint tennis courts 1-4 next year. Future plans could also include resurfacing courts 7 & 8 with artificial clay.

Structure, governance and management

The charity is a company limited by guarantee, charity registration number 1097049 and company registration number 02149293.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr A S Young
Mr R Burt
(Resigned 26 February 2024)
Mr I Davis
Mr P Messenger
Mr P Snabel
Mr A C Simmons
Mr A J Fearnley
Mr P E Millman
Mr R Pain
(Appointed 19 June 2024)
Recruitment and appointment of trustees

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

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

Mr A S Young
Trustee
6 November 2024
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
- 3 -

I report to the trustees on my examination of the financial statements of Crowborough Tennis & Squash Club Limited (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

Oliver Read FCCA ACA
James Todd & Co Limited
Drayton House
Drayton Lane
Chichester
West Sussex
PO20 2EW
England
Dated: 6 November 2024
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Charitable activities
3
136,122
106,174
Other trading activities
4
86,826
69,151
Investments
5
453
-
Total income
223,401
175,325
Expenditure on:
Raising funds
6
57,213
50,355
Charitable activities
7
131,863
101,990
Other expenditure
12
5,894
-
Total expenditure
194,970
152,345
Net income and movement in funds
28,431
22,980
Reconciliation of funds:
Fund balances at 1 April 2023
522,944
499,964
Fund balances at 31 March 2024
551,375
522,944

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
14
623,162
479,410
Current assets
Stocks
15
2,652
2,852
Debtors
16
1,104
93
Cash at bank and in hand
111,569
77,170
115,325
80,115
Creditors: amounts falling due within one year
18
(43,467)
(11,031)
Net current assets
71,858
69,084
Total assets less current liabilities
695,020
548,494
Creditors: amounts falling due after more than one year
19
(143,645)
(25,550)
Net assets
551,375
522,944
The funds of the charity
Unrestricted funds
58,353
29,922
Revaluation reserve
493,022
493,022
551,375
522,944

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 2024.

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

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.

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

The financial statements were approved by the trustees on 6 November 2024
Mr A S Young
Mr A J Fearnley
Trustee
Trustee
Company registration number 02149293 (England and Wales)
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
75,790
26,731
Investing activities
Purchase of tangible fixed assets
(152,194)
-
Investment income received
453
-
Net cash used in investing activities
(151,741)
-
Financing activities
Proceeds from new bank loans
114,000
-
Repayment of bank loans
(3,650)
(7,300)
Net cash generated from/(used in) financing activities
110,350
(7,300)
Net increase in cash and cash equivalents
34,399
19,431
Cash and cash equivalents at beginning of year
77,170
57,739
Cash and cash equivalents at end of year
111,569
77,170
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
1
Accounting policies
Charity information

Crowborough Tennis & Squash Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Church Road, Crowborough, East Sussex, TN6 1BN, England.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable 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.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors 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.

1.4
Income
Income is recognised when the charity is legally entitled to it 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.

Deferred income is included in the financial statements due to the company offering membership's for multiple years at a fixed current market rate. The individuals who took up this offer will have their payments spread over the life of the membership awarded.

Cash income from bar and shop sales is recognised on receipt.

 

 

 

 

 

 

 

 

 

CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 8 -
1.5
Expenditure

Expenditure is recognised on an accruals basis when the liability is incurred.

 

Charitable expenditure comprises those costs incurred by the charity in pursuit of its charitable objectives.

 

Both support and governance costs are recharged to the main activity and form part of charitable expenditure with a separate analysis being provided in the notes. Governance costs include those costs associated with meeting the statutory requirements of the charity and include independent examination fees and costs linked to the strategic management of the charity.

 

All costs include any non-recoverable VAT.

1.6
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
40 years straight line
Plant and equipment
25% and 10% reducing balance

Freehold land are not depreciated.

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 the statement of financial activities.

Assets are capitalised where they have a useful life of more than 12 months, and cost more than £1,000.

1.7
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).

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9
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.

CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 9 -
1.10
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Derecognition of financial liabilities

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

1.11
Employee benefits

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

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
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.

CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
3
Income from charitable activities
Membership income
Net coaching income
Tennis
Squash
Court tickets
Flood lighting
Padel court fees
Total
Total
2024
2024
2024
2024
2024
2024
2024
2024
2023
£
£
£
£
£
£
£
£
£

Income generated from charitable activities

79,324
-
-
-
4,678
5,621
23,956
113,579
88,745

Sports coaching

-
9,211
-
-
-
-
-
9,211
7,800

Match and tournament income

-
-
3,049
-
-
-
-
3,049
2,909

Visitors fees

-
-
1,862
8,421
-
-
-
10,283
6,720
79,324
9,211
4,911
8,421
4,678
5,621
23,956
136,122
106,174
Analysis by fund
Unrestricted funds
79,324
9,211
4,911
8,421
4,678
5,621
23,956
136,122
106,174
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3
Income from charitable activities
(Continued)
- 11 -
Previous year:
Membership income
Net coaching income
Tennis
Squash
Court tickets
Flood lighting
Total
2023
2023
2023
2023
2023
2023
2023
£
£
£
£
£
£
£

Income generated from charitable activities

76,838
-
-
-
5,363
6,544
88,745

Sports coaching

-
7,800
-
-
-
-
7,800

Match and tournament income

-
-
2,909
-
-
-
2,909

Visitors fees

-
-
1,528
5,192
-
-
6,720
76,838
7,800
4,437
5,192
5,363
6,544
106,174
Analysis by fund
Unrestricted funds
76,838
7,800
4,437
5,192
5,363
6,544
106,174
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
4
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising events
3,648
3,872
Shop income
50,614
38,990
Letting and licensing arrangements
31,410
25,239
Sponsorships and social lotteries
1,132
960
Other income
22
90
Other trading activities
86,826
69,151
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
453
-
6
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising and publicity
Staging fundraising events
2,625
3,362
Trading costs
Other trading activities
27,896
21,584
Staff costs
26,692
25,409
54,588
46,993
Total costs
57,213
50,355
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
7
Expenditure on charitable activities
Overheads
Overheads
2024
2023
£
£
Direct costs
Staff costs
28,792
24,265
Depreciation and impairment
5,895
3,739
Projects
3,601
3,007
Tennis fees and match expenditure
3,118
3,075
Squash fees and match expenditure
663
670
Tennis repairs
11,235
1,030
Coaching costs
1,165
800
54,469
36,586
Share of support and governance costs (see note 8)
Support
71,352
62,836
Governance
6,042
2,568
131,863
101,990
Analysis by fund
Unrestricted funds
131,863
101,990
8
Support costs allocated to activities
2024
2023
£
£
Staff costs
21,021
20,059
Rates
4,288
2,862
Light and heat
18,968
15,884
Insurance
3,198
2,490
Maintenance and contracts servicing
14,086
12,332
Printing, postage, stationery and advertising
1,089
299
Telephone
923
1,354
Computer expenses
1,917
1,689
Licences
1,398
2,654
Sundry expenses
4,464
3,213
Governance costs
6,042
2,568
77,394
65,404
Analysed between:
Overheads
77,394
65,404
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
9
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
5,895
3,739
Loss on disposal of tangible fixed assets
2,547
-
10
Trustees

None of the trustees (or any persons connected with them) received any remuneration from the charity during the year.

 

Two of the trustees were reimbursed for out of pocket expenses during the year for £599 (2023 - Three of the trustees were reimbursed £941 for out of pocket expenses).

 

Seven trustees and/or their related parties paid for membership fees and match fees during the year. These were paid at the market rate.

 

Three trustees loaned the charity £5,000 each, to help fund the development of a charitable project, at a favourable interest rate of 2.5% below that of market rate of 5.0%.

 

11
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Office
2
2
Maintenance
1
1
Bar
5
4
Total
8
7
Employment costs
2024
2023
£
£
Wages and salaries
75,559
68,857
Other pension costs
946
876
76,505
69,733
There were no employees whose annual remuneration was more than £60,000.
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 15 -
12
Other expenditure
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Net loss on disposal of tangible fixed assets
2,547
-
Financing costs
3,347
-
5,894
-
13
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Total
£
£
£
Cost or valuation
At 1 April 2023
595,403
143,658
739,061
Additions
152,194
-
152,194
Disposals
-
(138,026)
(138,026)
At 31 March 2024
747,597
5,632
753,229
Depreciation and impairment
At 1 April 2023
121,465
138,186
259,651
Depreciation charged in the year
5,342
553
5,895
Eliminated in respect of disposals
-
(135,479)
(135,479)
At 31 March 2024
126,807
3,260
130,067
Carrying amount
At 31 March 2024
620,790
2,372
623,162
At 31 March 2023
473,938
5,472
479,410

The Charity has elected to use a previous GAAP revaluation of its freehold land and properties as the deemed cost of those assets on the transition date in accordance with the transitional provision contained in section 35.10(d) of FRS102.

CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
15
Stocks
2024
2023
£
£
Finished goods and goods for resale
2,652
2,852
16
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
176
93
Prepayments and accrued income
928
-
1,104
93
17
Loans and overdrafts
2024
2023
£
£
Bank loans
143,200
32,850
Payable within one year
26,450
7,300
Payable after one year
116,750
25,550

The long-term loans were received from the Lawn Tennis Association and have been provided interest free. The loan in this financial year of £ 114,000 to help fund the Padel Court project is secured on the assets of the Club and is repayable over 5 years. The existing long term loan is unsecured and repayable over 10 years

 

18
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
17
26,450
7,300
Other taxation and social security
671
631
Deferred income
20
6,031
-
Trade creditors
2,142
3,100
Other creditors
3,250
-
Accruals
4,923
-
43,467
11,031
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 17 -
19
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
17
116,750
25,550
Deferred income
20
8,544
-
Other creditors
18,351
-
143,645
25,550
20
Deferred income
2024
2023
£
£
Other deferred income
14,575
-

Deferred income is included in the financial statements due to the company offering membership's for multiple years at a fixed current market rate. The individuals who took up this offer will have their payments spread over the life of the membership awarded, giving rise to the deferred income above.

2024
2023
£
£
Deferred income is included within:
Current liabilities
6,031
-
Non-current liabilities
8,544
-
14,575
-
Movements in the year:
Deferred income at 1 April 2023
-
-
Resources deferred in the year
14,575
-
Deferred income at 31 March 2024
14,575
-
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
946
876

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 18 -
22
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
At 31 March 2024
£
£
£
£
General funds
29,922
223,401
(194,970)
58,353
Revaluation reserve
493,022
-
-
493,022
Previous year:
At 1 April 2022
Incoming resources
Resources expended
At 31 March 2023
£
£
£
£
General funds
6,942
175,325
(152,345)
29,922
Revaluation reserve
493,022
-
-
493,022
23
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

24
Cash generated from operations
2024
2023
£
£
Surplus for the year
28,431
22,980
Adjustments for:
Investment income recognised in statement of financial activities
(453)
-
Loss on disposal of tangible fixed assets
2,547
-
Depreciation and impairment of tangible fixed assets
5,895
3,739
Movements in working capital:
Decrease/(increase) in stocks
200
(992)
(Increase)/decrease in debtors
(1,011)
1,086
Increase/(decrease) in creditors
25,606
(82)
Increase in deferred income
14,575
-
Cash generated from operations
75,790
26,731
CROWBOROUGH TENNIS & SQUASH CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 19 -
25
Analysis of changes in net debt
At 1 April 2023
Cash flows
At 31 March 2024
£
£
£
Cash at bank and in hand
77,170
34,399
111,569
Loans falling due within one year
(7,300)
(19,150)
(26,450)
Loans falling due after more than one year
(25,550)
(91,200)
(116,750)
44,320
(75,951)
(31,631)
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