Reserves totalling £50,259 (2021 £47,605) comprise of Capital Fund, Development Fund and the Geoff Rofe Memorial Fund as follows:
6.1 Capital Fund
Opening capital represents amounts taken over from Kent County Badminton Association and Kent Schools Badminton Association totalling £44,640 (2021 £44,640).
6.2 Development Fund
The Company receives grants from KCC for the Development of Badminton in Kent.
There was a balance brought forward of £1,500 and further grants received during the year totalling £4,500. £1,858 was spent during the year leaving a balance carried forward of £4,142 (2021 £1,500).
6.3 Geoff Rofe Memorial Fund
A fund has been set up within the Company in memory of Geoff Rofe who passed away on 23rd November 2020. The fund is to be used to assist disadvantaged or disabled players of the sport of badminton, under the direction of family members.
Funds brought forward at the beginning of the year totalled £1,465 and a further £513 was received during the year. A grant of £500 was made leaving a balance of £1,478 carried forward.