Finance
Finance
T&RA Finance
The Tennis and Rackets Association (T&RA) was founded in 1907 as an unincorporated Members Club run by a Council, and is the National Governing Body of Real Tennis and Rackets. On 1st January 2013, the T&RA became The Tennis and Rackets Association Limited, a company limited by guarantee, with a Board of Directors replacing the Council. Both games have their own Committees, which are active in managing the affairs of their respective sports, each under a Chairman who also sits on the Board. The T&RA works with all Overseas Governing Bodies.
There are three principal classes of T&RA membership - Full and Associate [mainly individuals], and Affiliate [mainly Clubs]. All players of both sports contribute a Affiliate Fee each year, which goes to support the Governing Body and thereby the games. Every player of Tennis must be a member of the T&RA or a Corporate Member through their Primary Club if he or she wishes to have a current Tennis handicap. Membership of the T&RA Ltd is also a prerequisite for players wishing to enter tournaments organised by the Association.
The financial year runs from 1 July to 30 June. Day to day activities are conducted through the T&RA Ltd General Fund. The Annual Trustees' Report and Financial Statements is consolidated across the General Fund, DBTRAF and the YPF [see below], in line with FRS 102. The Financial Statements can be obtained by full members from the T&RA office, based at Queen's Club and a simplified form is reproduced in the Annual Report. Full printed copies are circulated at the Annual General Meeting each November.
The most recent independently examined accounts for the 12 month period until 30th June 2023 can be downloaded below:
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| 2023 Trustees' Report and Financial Statements |
The previously audited accounts can be downloaded below:
The General Fund manages the budgets for training (both professional and amateur), youth development, communications, handicapping, tournaments, governance and general administration. A separate trading company has been established solely to distribute prize money, essential following the T&RA achieving its charitable status.
YPF
The Young Professionals' Fund was established over 40 years ago.
Income from the YPF is available to assist the funding of trainee Tennis and Rackets professionals. The Fund does not have charitable status and it relies on annual donations and investment income. It is managed by The Director of The Young Professionals' Programme, a position currently vacant and covered by the CEO; its accounts are published annually for the membership with the accounts of the T&RA Ltd General Fund.
DBTRAF
The Dick Bridgeman TRA Foundation was established in 1965.
It is named after Dick Bridgeman, a man who did much to secure the future of the two games, and after whom one of the Rackets courts at Queen's is named. The DBTRAF now includes The Peter Kershaw Bursary Fund, as a result of Peter Kershaw’s generous legacy.
The DBTRAF is a linked charity which relies on annual donations and investment income. It is managed by the T&RA and its accounts are the responsibility of its Trustees.
Distribution of Funds
Over £500,000 distributed to support Tennis and Rackets.
In the past 20 years over £500,000 has been paid out in grants and/or loans for court construction, court repairs or training professionals. Most of the current Tennis and Rackets professionals have had their initial training part-funded by the YPF or the DBTRAF, and this programme is now extended to include modular, through-career training via the Club Professional Development programme.
Applications for Grants or Loans
Over £500,000 distributed to support the games.
Clubs and schools seeking grants or loans for court development should apply to the Chief Executive of the T&RA Ltd. Those seeking grants for trainee professionals should apply to the Director of the Young Professionals' Programme.
Appeal for Donations
Donations can benefit from Gift Aid.
Thanks to judicious management, the investment income of the T&RA, the YPF and the DBTRAF has all increased, but at the same time demands on the funds have increased. Without trained professionals and well-maintained courts, our two great games will not prosper. Donating to the YPF and/or the DBTRAF is the best way for those of us who have had so much enjoyment from playing to give something back for the benefit of future generations. Donations can be made on-line, or else contact the Chief Executive. Donations to the T&RA and DBTRAF can be gift aided for tax efficiency.
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| T&RA Mandate |
Legacies
Help future generations to enjoy our great games.
Legacies can be left to the T&RA or the DBTRAF, both of which are free of Inheritance Tax, as registered charities. It is always best to seek the advice of your solicitor, but suggested wording for a legacy to the T&RA/DBTRAF in your will or by codicil is:
"I give and bequeath to the Tennis & Rackets Association Ltd (Registered Charity No 1167866) the sum of £........... free of all inheritance tax, such sum to be applied to the general purpose of the said charity and I DECLARE that the receipt of any person who purports to be the Treasurer, Secretary, Trustee or other proper officer of the Charity shall be a complete discharge to my trustees"
or
"I give and bequeath to the Dick Bridgeman TRA Foundation (Registered Charity No 1167866/1) the sum of £........... free of all inheritance tax, such sum to be applied to the general purpose of the said charity and I DECLARE that the receipt of any person who purports to be the Treasurer, Secretary, Trustee or other proper officer of the Charity shall be a complete discharge to my trustees"