Welland Valley Football Club - Charities report - 19.1

REGISTERED COMPANY NUMBER: 08442690 (England and Wales)

REGISTERED CHARITY NUMBER: 1151670

Report of the Trustees and

Unaudited Financial Statements For The Year Ended 31st July 2018

for

Welland Valley Football Club

Welland Valley Football Club

Contents of the Financial Statements

For The Year Ended 31st July 2018

Page

Report of the Trustees

1 to 2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

Notes to the Financial Statements

6 to 9

Welland Valley Football Club (Registered number: 08442690)

Report of the Trustees

For The Year Ended 31st July 2018

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with

the financial statements of the charity for the year ended 31st July 2018. The trustees have adopted the provisions of

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 2015).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity was formed to promote community participation in healthy recreation by providing facilities for the playing of

association football and other such sports or physical activities which improve fitness and health. It is also to advance

the education of young people in particular by providing the opportunity and facilities for playing association football and

such other sports or physical activities which improve fitness and health, so to develop their physical, mental and

spiritual capacities that they may grow to the full maturity as individuals and members of society that their conditions of

life may improve.

Significant activities

The charity derives the majority of its income from the subscriptions and donations received for the furtherance of its

charitable objectives.

Public benefit

The trustees strive to deliver the public benefit of the charity by fulfilling the objectives and aims in connection with the

health and welfare of those connected with the charity.

FINANCIAL REVIEW

Reserves policy

The club has a reserve policy sufficient to cover one year's costs with the balance above this being held for a specific

funding project.

FUTURE PLANS

The trustees having been accumulating the additional funds in the general fund with a view to build up sufficient cash

balances to enable them to build a club house on the football pitches they lease from the landlord. However, due to the

long a protracted issues with regards to this plan it has taken longer than expected and has now been abandon as a

project. The Trustees are therefore planning to use the excess funds in the purchase of of new equipment for the charity

to use in delivering its objectives.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by

guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The company was established under a Memorandum of Association which established the objects and powers of the

charitable company and is governed under its Articles of Association. The first trustees shall be deemed to be

reappointed under the Articles of Future Trustees. The trustees shall not be less than six unless determined by ordinary

resolution.

Induction and training of new trustees

New trustees are encouraged to attend appropriate external training courses, and meet key employees and other

trustees - all of which will facilitate the undertaking of their role.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08442690 (England and Wales)

Registered Charity number

1151670

Registered office

125 Brunel Drive

Upton

Northampton

Northamptonshire

NN5 4AJ

Trustees

Mrs A L Aitken

Volunteer

- resigned 7.9.2017

M D Pooley

Engineer

B J Pooley

Retired Company Director

- resigned 7.9.2017

M D Watts

Purchasing Manager

- resigned 7.9.2017

M Hardinges

- appointed 7.9.2017

Mrs D Freegard-Hardinges

- appointed 7.9.2017

A Hawkings

- appointed 7.9.2017

D Heath

- appointed 7.9.2017

Independent examiner

Cheney & Co

310 Wellingborough Road

Northampton

NN1 4EP

Solicitors

Muckle LLP

Time Central

32 Gallowgate

Newcastle upon Tyne

NE1 4BF

COMMENCEMENT OF ACTIVITIES

The charity commenced on the 1st September 2013 being the commencement of the new football season.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

Approved by order of the board of trustees on 16th April 2019 and signed on its behalf by:

M D Pooley - Trustee

Independent Examiner's Report to the Trustees of

Welland Valley Football Club (Registered number: 08442690)

Independent examiner's report to the trustees of Welland Valley Football Club ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st July 2018.

Responsibilities and basis of report

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

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:

1.

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

2.

the accounts do not accord with those records; or

3.

the accounts 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 accounts 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 accounts to be reached

P A Sparks

Chartered Accountant

Cheney & Co

310 Wellingborough Road

Northampton

NN1 4EP

16th April 2019

Welland Valley Football Club

Statement of Financial Activities

For The Year Ended 31st July 2018

Period

1.8.15

Year ended

to

31.7.18

31.7.17

Unrestricted fund

Total funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

28,006

26,641

Investment income

2

31

19

Total

28,037

26,660

EXPENDITURE ON

Raising funds

3

34,123

40,455

NET INCOME/(EXPENDITURE)

(6,086

)

(13,795

)

RECONCILIATION OF FUNDS

Total funds brought forward

56,226

70,021

TOTAL FUNDS CARRIED FORWARD

50,140

56,226

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

Welland Valley Football Club (Registered number: 08442690)

Balance Sheet

At 31st July 2018

2018

2017

Unrestricted fund

Total funds

Notes

£

£

FIXED ASSETS

Tangible assets

7

5,000

6,000

CURRENT ASSETS

Cash at bank

46,093

51,586

CREDITORS

Amounts falling due within one year

8

(953

)

(1,360

)

NET CURRENT ASSETS

45,140

50,226

TOTAL ASSETS LESS CURRENT LIABILITIES

50,140

56,226

NET ASSETS

50,140

56,226

FUNDS

10

Unrestricted funds

50,140

56,226

TOTAL FUNDS

50,140

56,226

The charitable company is entitled to exemption from audit under

Section 477 of the Companies Act 2006 for the year ended 31st July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended

31st July 2018 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)

ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies

Act 2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on 16th April 2019 and were signed on its behalf by:

M D Pooley -Trustee

Mrs D Freegard-Hardinges -Trustee

Welland Valley Football Club

Notes to the Financial Statements

For The Year Ended 31st July 2018

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been

prepared in accordance with the Charities SORP (FRS 102) '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 2015)',

Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of

Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost

convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it

is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the

charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and

the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and

has been classified under headings that aggregate all cost related to the category. Where costs cannot be

directly attributed to particular headings they have been allocated to activities on a basis consistent with the use

of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Plant and machinery

- 10% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions

arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.	INVESTMENT INCOME

Period

1.8.15

Year ended

to

31.7.18

31.7.17

£

£

Deposit account interest

31

19

3.	RAISING FUNDS

Raising donations and legacies

Period

1.8.15

Year ended

to

31.7.18

31.7.17

£

£

Support costs

34,123

40,455

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period

1.8.15

Year ended

to

31.7.18

31.7.17

£

£

Depreciation - owned assets

1,000

1,000

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st July 2018 nor for the period

ended 31st July 2017.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st July 2018 nor for the period ended

31st July 2017.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

26,641

Investment income

19

Total

26,660

EXPENDITURE ON

Raising funds

40,455

Total

40,455

NET INCOME/(EXPENDITURE)

(13,795

)

RECONCILIATION OF FUNDS

Total funds brought forward

70,021

TOTAL FUNDS CARRIED FORWARD

56,226

7.	TANGIBLE FIXED ASSETS

Plant and machinery

£

COST

At 1st August 2017 and 31st July 2018

10,000

DEPRECIATION

At 1st August 2017

4,000

Charge for year

1,000

At 31st July 2018

5,000

NET BOOK VALUE

At 31st July 2018

5,000

At 31st July 2017

6,000

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts (see note 9)

10

-

Accruals and deferred income

943

1,360

953

1,360

9.

LOANS

An analysis of the maturity of loans is given below:

2018

2017

£

£

Amounts falling due within one year on demand:

Bank overdraft

10

-

10.	MOVEMENT IN FUNDS

At 1.8.17

Net movement in funds

At 31.7.18

£

£

£

Unrestricted funds

General fund

56,226

(6,086

)

50,140

TOTAL FUNDS

56,226

(6,086

)

50,140

Net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

28,037

(34,123

)

(6,086

)

TOTAL FUNDS

28,037

(34,123

)

(6,086

)

Comparatives for movement in funds

At 1.8.15

Net movement in funds

At 31.7.17

£

£

£

Unrestricted Funds

General fund

70,021

(13,795

)

56,226

TOTAL FUNDS

70,021

(13,795

)

56,226

Comparative net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

26,660

(40,455

)

(13,795

)

TOTAL FUNDS

26,660

(40,455

)

(13,795

)

11.	CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st July 2018 or 31st July 2017.

12.	CAPITAL COMMITMENTS

There were no capital commitments as at 31st July 2018 or 31st July 2017.

13.	RELATED PARTY DISCLOSURES

There were no related party disclosures as at 31st July 2018 or at 31st July 2017.

14.	ULTIMATE CONTROLLING PARTY

No one party has ultimate control.