The trustees present their annual 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 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).
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.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
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. The club was awarded Tennis Sussex Club of the year for 2025.
During the year, we installed two pickle courts and a mini tennis court.
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 £80,547 exceeding the sinking fund requirement by £64,947.
Surplus income for the year ending 31 March 2025 amounted to £89,019 before allowing for depreciation of £8,472 giving a surplus after depreciation of £80,547.
Unrestricted reserves carried forward are £631,922 (2024: £551,375), which includes liquid funds of £120,175 (2024: £111,569).
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.
The charity plans to refurbish two squash courts and also replace the main pavilion roof during the year. The charity is also investigating the possibility of resurfacing courts 7 & 8 with artificial clay as well as making further improvement to the outdoor facilities.
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:
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.
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 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Association of Certified Accountants and an Associate of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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 financial statements 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.
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 is a private company limited by guarantee incorporated in England and Wales. The registered office is Church Road, Crowborough, East Sussex, TN6 1BN, England.
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.
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.
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.
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.
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.
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 is 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.
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).
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.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Cash and cash equivalents include cash in hand and deposits held with banks.
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, 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, 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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.
Income generated from charitable activities
Sports coaching
Match and tournament income
Visitors fees
Income generated from charitable activities
Sports coaching
Match and tournament income
Visitors fees
During the year, the club received a £15,000 grant as part funding, towards the new LED lights, by the UK government through the UK Shared Prosperity Fund.
None of the trustees (or any persons connected with them) received any remuneration from the charity during the year.
One of the trustees were reimbursed for out of pocket expenses during the year for £342 (2024 - Two of the trustees were reimbursed £599 for out of pocket expenses).
Eight trustees (2024: Seven trustees) and/or their related parties paid for membership fees and match fees during the year. These were paid at the market rate.
In 2024, two trustees and one ex-trustee 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%. At the end of the year, the balance owing to the trustees and ex-trustee was £15,674 (2024: £15,292).
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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.
The long-term loans were received from the Lawn Tennis Association and have been provided interest free. The loan received in the previous financial year for £114,000 helped fund the Padel Court project and 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.
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.
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.
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.
There were no disclosable related party transactions during the year (2024 - none).