MANAGEMENT COMMITTEE REPORT AND FINANCIAL STATEMENTS
CONTENTS Management Committees Annual Report Reference and Administrative Information 2 Structure, Governance and Management 2 Objectives and Activities 3 Achievements and Performance 3 Financial Review 3 Plans for Future Periods 4 Independent Examiners Report 5 Statement of Financial Activity 7 Balance Sheet 8 Notes to Accompany the Accounts 9 Summarised Financial Accounts 14 1
MANAGEMENT COMMITTES' ANNUAL REPORT Reference and Administrative Information Address of Principle Office The Llandudno and District Table Tennis League (the League) does not have a principle office address due to the size and nature of its business. However, the Leagues management committee (the Committee) may be contacted through the secretary at the following address: Bryn Golau Saron Denbigh Denbighshire LL16 4TH Management Committee The following were all part of the Committee on the date the report was approved and served as committee members during the financial year: Elected Officers of the League President Chair Vice-Chair Secretary Treasurer Fixtures and Press Secretary Pru Oakes Peter Beatham Harold Furber Kath Banks Chris Henderson Sean Lucas Membership Secretary Yvonne Stubbington (Appointed 28 July 2010) Nia Edwards (Retired 28 July 2010) Committee Members Nia Edwards (Appointed 28 July 2010) Ed Jenkins (Appointed 28 July 2010) Jules Mitchell-Dawson Alf Roberts Rob Walker Bill Williams Structure, Governance and Management The League is an unincorporated, not for profit body. It is governed in accordance with the Leagues Regulations, by a volunteer management committee consisting of elected Officers of the League and elected committee members. The Committee holds regular meetings throughout the year. The officers of the League and committee members are elected at the Annual General Meeting (AGM) when all bona fide League players may attend with voting powers, in addition to the Officers of the League. 2
MANAGEMENT COMMITTES' ANNUAL REPORT (CONTINUED) Objectives and Activities The objective of the League is to promote table tennis. The main activity undertaken in relation to this objective is the provision of competitions and tournaments. The League also promotes table tennis by providing funding for coach education to increase the number of qualified coaches and by supporting League clubs. Achievements and Performance The League has had an increase in the number of members by 15% from 72 in 2010 to 83. The number of juniors doubled from 6 to 12 and the number of senior players increased from 62 to 69. Despite the large increase in membership numbers, the number of teams remained constant at 20. The increase in membership numbers resulted in an increase in membership fees by 14.9% from 1,117 in 2010 to 1,283 in 2011. Despite the growth in fees, the Statement Of Financial Activites (SOFA) show total net outgoing resources of 337.60 (2009: (328.33) ), which hides a very prosperous year for the League. If the abnormal expenditure of donations and the use of restricted funds are removed, the League would have made a healthy surplus of 232.21 (2009: 85.70). The number of entries into the closed handicap tournament went up from 21 players last year to 24 but the number of entries into the closed tournament fell from 30 to 29. The League is currently putting two of its members through the United Kingdom Coaching Certificate (UKCC) course for table tennis and has restricted funds to put at least another one member through the coaching course. The League has also made a donation of 500 to one of the League clubs, Denbigh Community Table Tennis Club, towards the services of former Wales coach, Alan Griffiths, to coach the juniors at that club for the season 2010/11. Financial Review Policy on Reserves The Committee recently reviewed the reserves policy. The reserves policy has two main objectives. Firstly, to meet any fluctuations in receipts or payments which may result in the normal expenses exceeding income in any particular year and secondly to ensure the League is not accumulating excessive reserves. To meet any fluctuations in payments or receipts, the minimum level of 50% of the normal running expenses was decided to be appropriate and would give the committee time to react appropriately. To ensure the League is not accumulating excessive reserves and that the funds are being used to benefit the objective of the League and its members, the maximum level of 100% of normal running expenses was decided to be appropriate. This should enable the League to commit to large one off future expenses and to ensure the Committee uses the funds to benefit the objective of the League and its members instead of accumulating large funds. The reserves policy gives 12 months from the financial year end for the League to correct the unrestricted reserves held to ensure the Committee takes timely action. 3
MANAGEMENT COMMITTES' ANNUAL REPORT (CONTINUED) Normal running expenditure is worked out as follows: Trophies 730.50 Tournament Expenses 179.00 Excess Presentation Dinner Expenses 40.40 Committee Expenses (Inc. Newsletter) 35.47 Maximum unrestricted funds to be held @ 30/6/2011 985.37 Minimum unrestricted funds to be held @ 30/6/2011 492.69 Current level of total unrestricted funds @ 30/6/2011 1,183.41 The current level of total unrestricted funds is greater than the maximum funds allowed in the reserves policy by 198.04. However, included within the total unrestricted reserves is a designated fund of 161.50 from the donations in lieu of trophies. This designated fund is set aside for the development of junior table tennis. The Committee will decide on a suitable cause for the funds within 12 months. In the past, the League has donated considerably more than the funds held in the designated funds. Should the Committe decide to do this again, the reserves will be reduced to within the reserves policy range. Investment Policies The League does not have an investment policy. Due to the relatively small size of the funds held and need for liquidity, the deposit account is considered by the Committee to be the most practical way of generating income from the funds held by the League. Plans for Future Periods The League will continue to provide competitions and tournaments. It also remains committed to putting more members through the UKCC scheme who wish to become coaches. Approved by the Committee of the Llandudno and District Table Tennis League on 10 August 2011 Chair: Peter Beatham Secretary: Kath Banks Treasurer: Chris Henderson 4
STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Funds Restricted Funds 2011 Total Funds 2010 Total Funds Notes Incoming Resources Players Registration Fees 1,283.00 1,283.00 1,117.00 TTAW Affiliation Fees Collected 648.00 648.00 492.00 NWCTTA Affiliation Fees Collected 170.00 170.00 - Presentation Dinner 940.50 940.50 954.00 Interest 0.58 0.58 0.32 Donations Received - - 20.00 Total Incoming Resources 3,042.08-3,042.08 2,583.32 Resources Expended Trophies 3 730.50 730.50 550.00 TTAW Affiliation Fees 648.00 648.00 492.00 NWCTTA Affiliation Fees 170.00 170.00 - Tournament Expenses 3 179.00 179.00 296.00 Presentation Dinner 3 980.90 980.90 968.50 Committee Expenses (Inc. Newsletter) 3 35.47 35.47 87.15 Grants and Sponsorship Expenditure 3, 5 500.00 135.81 635.81 518.00 Total Resources Expended 3,243.87 135.81 3,379.68 2,911.65 Net Outgoing Resources (201.79) (135.81) (337.60) (328.33) Funds Brought Forward 1,385.20 582.77 1,967.97 2,296.30 Funds Carried Forward 9 1,183.41 446.96 1,630.37 1,967.97 7
BALANCE SHEET 2011 2010 Note Fixed Assets Tangible Fixed Assets - - Intangible Fixed Assets - - Investments - - - - Current Assets Debtors and Prepayments 6 14.31 6.78 Cash at Bank and In Hand 7 1,616.06 2,081.19 1,630.37 2,087.97 Creditors: Amounts Falling Due Within One Year 8 0.00 (120.00) Net Current Assets 1,630.37 1,967.97 Total Assets Less Current Liabilities 1,630.37 1,967.97 Creditors: Amounts Falling Due After More Than One Year 8 - - 1,630.37 1,967.97 The Funds of the League General Unrestricted Income Funds 9 1,021.91 1,319.20 Designated Unrestricted Funds 9 161.50 66.00 Total Unrestricted Funds 1,183.41 1,385.20 Restricted Income Funds 9 446.96 582.77 Total League Funds 1,630.37 1,967.97 Approved by the Committee of the Llandudno and District Table Tennis League on 10 August 2011 Chair: Peter Beatham Secretary: Kath Banks Treasurer: Chris Henderson 8
NOTES TO THE FINANCIAL STATEMENTS 1 Basis of Preparation 1.1 Basis of Accounting These accounts have been prepared on the basis of historic cost in accordance with Accounting and Reporting by Charities - Statement Of Recommended Practice (SORP 2005), and with Accounting Standards and with the Charities Act 1993. 1.2 Change in Basis of Accounting There have been no changes to the accounting policies (valuation rules and methods of accounting) since last year except for the way in which donations in lieu of trophies are accounted for. Donations in lieu of trophies are now classified as a designated unrestricted fund as it fits the definition of a designated fund more appropriately than a restricted fund. 1.3 Changes to Previous Accounts No changes have been made to accounts for previous years except for the reclassification of donations in lieu of trophies. 2 Accounting Policies This standard list of accounting policies have been applied by the League. 2.1 Incoming Resources 2.1.1. Recognition of Incoming Resources These are included in the Statement Of Financial Activities (SOFA) when the League becomes entitled to the resources, the Committee is virtually certain they will receive the resources and the monetary value can be measured with sufficient reliability. 2.1.2 Incoming Resources with Related Expenditure Where incoming resources have related expenditure (as with affiliation fees collected and paid to the Table Tennis Assoction of Wales (TTAW), the incoming resources and related expenditure are reported gross in the SOFA. 2.1.3. Grants and Donations Grants and donations are only included in the SOFA when the league has unconditional entitlement to the resource. 2.2 Expenditure and Liabilities 2.2.1 Liability Recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the League to pay out resources. 2.2.2 Grants Payable Without Performance Conditions These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remains in control of the League. 2.3 Assets 2.3.1 Tangible Fixed Assets for use by the League These are capitalised if they can be used for more than one year, and cost at least 500. They are valued at cost or a reasonable value on receipt. 9
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 3. Analysis of Resources Expended Unrestricted Restricted 2011 Total 2010 Total Funds Funds Funds Funds 3.1 Trophy Expenses Cost of trophies purchased and engraving 720.00 720.00 550.00 Engraving of trophy for 2009/2010 season 5.50 5.50 - Engraving of 5x60 trophy for Denbigh CTTC 5.00 5.00-730.50-730.50 550.00 3.2 Tournament Expenses Handicap tournament hall hire 85.00 85.00 120.00 Closed tournament hall hire 85.00 85.00 140.00 League finals table hire 9.00 9.00 36.00 179.00-179.00 296.00 3.3 Presentation Dinner Cost of catering for paying attendees 913.50 913.50 924.00 Cost of catering for 1 guest 14.50 14.50 - Room hire 25.00 25.00 25.00 Programmes & trophy substitutes 19.90 19.90 19.50 Flowers for Rhona Roberts 8.00 8.00-980.90-980.90 968.50 3.4 Committee Expenses Newsletter - - 54.00 Handbooks 32.00 32.00 32.00 League domain name 3.47 3.47 1.15 35.47-35.47 87.15 3.5 Grants and Sponsorship Denbigh CTTC - Alan Griffiths coaching 500.00 500.00 400.00 UKCC Courses - 118.00 St Johns Ambulance Course for UKCC 55.81 55.81 - Child Protection Course for UKCC 80.00 80.00-500.00 135.81 635.81 518.00 4 Details of Certain Items of Expenditure 4.1 Management Committee Expenses 2011 2010 Number of committee members who were paid expenses 2 1 Nature of the expenses Printing, UKCC Courses, Trophies, Flowers Printing, Internet Domain Name, Postage Total amount paid 84.90 112.43 10
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 4.2 Fees for examination or audit of the accounts 2011 2010 Independent examiners' fees for reporting on the accounts - - Other fees paid to the independent examiner or auditor - - The Independent Examiners Report was given free of charge by Steven Clark, ACA, of Harold Smith Chartered Accountants, St Asaph. No other services are provided by the independent examiner to the League. 5. Grants and Donations Made 5.1 Total Value of Grants and Donations Made Grants to Institutions Total Amount Grants to Individuals Total Amount Alan Grifiths coaching for 2010/2011 season at Denbigh CTTC 500.00-500.00-5.2 Grants and Donations made to Institutions Name of Institution Purpose Total Amount of Grants Paid Denbigh Community Table Tennis Club To pay for the former Wales coach, Alan Grifiths, to coach at the club for 2010/2011 season 500.00 500.00 6 Debtors and Prepayments Amounts falling due Amounts falling due after within one year more than one year 2011 2010 2011 2010 Debtors - 1.00 - - Prepayments 14.31 5.78 - - 14.31 6.78 - - 7 Cash in Bank and in Hand 2011 2010 Cash in Hand - - Bank Current Account 50.00 1,512.69 Bank Deposit Account 1,566.06 568.50 1,616.06 2,081.19 11
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 8 Creditors and Accruals Amounts falling due Amounts falling due within one year after more than one 2011 2010 2011 2010 Creditors - 120.00 - - - 120.00 - - The League clubs are guarantors of the League 9 Types of Income Funds 9.1 Funds held Name Type Purpose and Restrictions General Funds Donations in Lieu of Trophies Community Chest Grant General Unrestricted Fund Designated Unrestricted Fund Restricted The general funds can be used for the general purposes of the League as set out in the Leagues Regulations. The donations in lieu of trophies are unrestricted funds earmarked for a particular use in the future. This fund is for the developement of junior table tennis. This fund was awarded to the League for coach education to increase the number of qualified table tennis coaches. 9.2 Movement of Major Funds Fund Name Fund Balances Brought Incoming Outgoing Gains and Fund Balances Carried Forward Resources Resources Transfers Losses Forward General Funds 1,319.20 3,042.08 (3,177.87) (161.50) 1,021.91 Donations In Lieu of Trophies 66.00 (66.00) 161.50 161.50 Community Chest Grant 582.77 0.00 (135.81) 446.96 1,967.97 3,042.08 (3,379.68) 0.00 0.00 1,630.37 9.3 Transfers between funds From Fund To Fund Reason Amount General Fund Donations in Lieu of Trophies Some members have chosen not to receive trophies. The funds that would have been spent on those trophies have been earmarked for use by the League for the development of junior table tennis. 161.50 12
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 9.4 Analysis of net assets between funds Unrestricted Restricted Total Funds Funds Funds Fixed Assets - - - Investments - - - Net Current Assets 1,183.41 446.96 1,630.37 Creditors due in more than one year and provisions - - - 1,183.41 446.96 1,630.37 10 Transaction with Related Parties 10.1 Remuneration and Benefits No management committee member, or any other related party, has received any remuneration or other benefits by the League or any institution or company connected with it. 10.2 Loans There were no loans made to or from any League committee member or other related party by the League at the year end. 10.3 Other Transactions with Trustees or Related Parties Other than the following, there were no transactions undertaken by (or on behalf of) the League in which a committee member or related party has a material interest. Name of Committee Member Relationship to League Detail of transaction 2011 2010 Kath Banks Secretary Donation to Denbigh CTTC - Kath acts as secretary for Denbigh CTTC and jointly runs the club Jules Mitchell-Dawson Committee Member Donation to Denbigh CTTC - Jules is chair and jointly runs Denbigh CTTC Sean Lucas Fixtures and Press Secretary Donation to Denbigh CTTC - Sean is a member of Denbigh CTTC Yvonne Stubbington Membership Donation to Denbigh CTTC - Yvonne is Secretary a member of Denbigh CTTC Nia Edwards Committee Member Donation to Denbigh CTTC - Nia is a member of Denbigh CTTC and her daughter receives coaching at Denbigh. Alf Roberts Committee Member Donation to Denbigh CTTC - Alf is a member of Denbigh CTTC and coaches at the club Peter Beatham Chair Donation to Denbigh CTTC - Peter is a member of Denbigh CTTC and coaches at the club 500.00 400.00 500.00 400.00 500.00 400.00 500.00 400.00 500.00 400.00 500.00 400.00 500.00 400.00 13
SUMMARISED FINANCIAL ACCOUNTS Unrestricted Funds Restricted Funds 2011 Total Funds 2010 Total Funds Notes Incoming Resources Players Registration Fees 1,283.00-1,283.00 1,117.00 TTAW Affiliation Fees Collected 648.00-648.00 492.00 NWCTTA Affiliation Fees Collected 170.00-170.00 - Presentation Dinner 940.50-940.50 954.00 Interest 0.58-0.58 0.32 Donations Received - - - 20.00 Total incoming resources 3,042.08-3,042.08 2,583.32 Resources Expended Trophies 3 730.50-730.50 550.00 TTAW Affiliation Fees 648.00-648.00 492.00 NWCTTA Affiliation Fees 170.00-170.00 - Tournament Expenses 3 179.00-179.00 296.00 Presentation Dinner 3 980.90-980.90 968.50 Committee Expenses (Inc. Newsletter) 3 35.47-35.47 87.15 Grants and Sponsorship Expenditure 3, 5 500.00 135.81 635.81 518.00 Total Resources Expended 3,243.87 135.81 3,379.68 2,911.65 Net Outgoing Resources (201.79) (135.81) (337.60) (328.33) Reconciliation of Funds Funds Brought Forward 1,385.20 582.77 1,967.97 2,296.30 Net Outgoing Resources (201.79) (135.81) (337.60) (328.33) Funds Carried Forward 1,183.41 446.96 1,630.37 1,967.97 Represented by the League Assets and Liabilities Current Account 50.00 1,512.69 Deposit Account 1,566.06 568.50 Closing Debtors - 1.00 Closing Prepayments 14.31 5.78 Creditors - (120.00) 1,630.37 1,967.97 Members Summary Seniors 69 62 Juniors 12 6 Reserves 2 4 83 72 Approved by the Committee of the Llandudno and District Table Tennis League on 10 August 2011 Chair: Peter Beatham Secretary: Kath Banks Treasurer: Chris Henderson 14