Meadow Sports And Old Wokingians Limited - Charities report - 19.2
Meadow Sports And Old Wokingians Limited - Charities report - 19.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR |
| ENDED 31 MARCH 2019 |
| FOR |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2019 |
| Page |
| Report of the Trustees | 1 to 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 11 |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31 March 2019 |
| The Trustees (who are also directors for the purposes of the Companies Act) are pleased to present their annual |
| directors' report together with the financial statements of the charity and its subsidiary for the year ended 31st March |
| 2019 which are also prepared to meet the requirements for a directors' report and accounts fro Companies Act purposes. |
| The Trustees confirm that the annual report and financial statements of the company comply with the Charities Act |
| 2011, the Companies Act 2006, the requirements of the governing documents and Accounting and Reporting by |
| Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the |
| Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) (effective January 2015). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The charity's objectives are the provision of recreational and sporting facilities to Woking residents |
| The policies adopted in furtherance of these objectives are running social facilities through the charity's subsidiary and |
| maintaining the recreation field for sporting activities and there has been no change in these during the year. |
| The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they should |
| undertake. |
| Provision of facilities to allow amateur football and associated training for all age group (boys and girls) as well as |
| adults. Hosting Surrey AFA meetings, a Woking Links Leisure football tournament, hosting Referees meetings together |
| with training courses for referees and linesmen. |
| Provision of facilities for thirty-two youth teams and eight adult teams, plus an additional adults Vets team that do not |
| play their fixtures at Loop Road. |
| The committee's objective for the year are: |
| - To facilitate football matches for 8 adult sides (plus 2 Vets sides who will play fixtures away from Loop Road) and 32 |
| children's teams |
| - Improve the grass playing surface |
| - Continued review of the 3G area for possible improvements |
| - Ongoing financial stability for the bar and clubhouse |
| Significant activities |
| The carpark has seen a complete resurfacing at no cost to the clubs. |
| Various charity events were held throughout the year. |
| Local clubs and charities were supported throughout the year, Woking FC academy and their holiday camps, Woking |
| District Football, Westfield Academy, Woking Wolves, Woking Hospice, Surrey referees and Surrey FA development. |
| Old Wokingians and Meadow Sports donated a further £800 for the replacement of the Refrigeration Unit |
| Richard Adamson's continued liaison with Serco has ensured very few postponements however longer-term |
| improvements to the grass playing surface have been identified as a topic of focus. |
| STRATEGIC REPORT |
| Financial review |
| Financial position |
| The trustees have reviewed the accounts and agreed that the financial income and expenditure for the year is in line with |
| what was expected and the ongoing financial stability for the bar and clubhouse remains one of the committee's key |
| objectives for the forthcoming financial year. |
| Principal funding sources |
| The contributions made by the two feeder clubs were £6,000 by Old Wokingians and £6,000 by Meadow Sports and it |
| has been agreed that this will remain the same for the coming season. |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31 March 2019 |
| STRATEGIC REPORT |
| Financial review |
| Investment policy and objectives |
| During the year expenditure was made on a new refrigeration unit in the cellar, fixed football boot cleaner brushes and a |
| secure set of fire doors. |
| Reserves policy |
| It is the policy of the trustees that unrestricted funds which have not been designated for a specific use should be |
| maintained at a level equivalent to between three ans six months 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 activities |
| while consideration is given to ways in which additional funds may be raised. |
| 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 |
| Trustees are appointed from the two feeder clubs (Meadow Sports and Old Wokingians) via respective AGM's. |
| The Chairmanship of the Trustees is rotated between the two clubs, and is currently D Lane. |
| Organisational structure |
| The charity has a wholly owned subsidiary, Kingsmeadow Club Limited which provides bar and recreational facilities |
| renting the property owned by the charity. |
| Decision making |
| The charity has no staff and is administered by the trustees. |
| The trustees meet every month and minutes of their meetings are circulated to all trustees. |
| The trustees, who are also the directors for the purpose of company law, and who served during the year were: |
| R Adamson |
| D Lane |
| Key management remuneration |
| None of the trustees have 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. |
| Risk management |
| The trustees have assessed and taken advice on the major risks to which the charity are exposed and are satisfied that |
| systems are in place to mitigate any exposure to them. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31 March 2019 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Trustees |
| R Adamson |
| D Lane |
| Company Secretary |
| Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| STATEMENT OF FINANCIAL ACTIVITIES |
| for the Year Ended 31 March 2019 |
| 2019 | 2018 |
| Unrestricted fund |
Total funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Charitable activities |
| Other trading activities | 3 |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 3,017 |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| BALANCE SHEET |
| At 31 March 2019 |
| 2019 | 2018 |
| Unrestricted fund |
Total funds |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 7 |
| Investments | 8 |
| CURRENT ASSETS |
| Debtors | 9 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 10 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 11 |
| Unrestricted funds | 2,802 | 3,017 |
| TOTAL FUNDS | 3,017 |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| BALANCE SHEET - CONTINUED |
| At 31 March 2019 |
| The charitable company is entitled to exemption from audit under |
| Section 477 of the Companies Act 2006 for the year ended 31 March 2019. |
| The members have not required the company to obtain an audit of its financial statements for the year ended |
| 31 March 2019 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 |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2019 |
| 1. | STATUTORY INFORMATION |
| Meadow Sports and Old Wokingians is a charitable company incorporated and registered in England and Wales. |
| The entity is limited by guarantee and has no share capital. In the event of the charitable company being wound |
| up, the liability in respect of the guarantee is limited to £1 per member of the charity. |
| The presentation currency of the financial statements is the Pound Sterling (£) |
| 2. | 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 with the exception of investments which are included at market value. |
| 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. |
| Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but |
| not accrued as expenditure. |
| 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 |
| 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. |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| for the Year Ended 31 March 2019 |
| 3. | OTHER TRADING ACTIVITIES |
| 2019 | 2018 |
| £ | £ |
| Other miscellaneous income | - | 4,491 |
| Rent receivable | 1,000 | 3,500 |
| Hire of hall | 1,450 | 499 |
| 4. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2019 | 2018 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2019 nor for the year ended |
| 31 March 2018. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2019 nor for the year ended 31 March 2018. |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted fund |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Charitable activities |
| Other trading activities |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 7,486 |
| TOTAL FUNDS CARRIED FORWARD | 3,017 |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| for the Year Ended 31 March 2019 |
| 7. | TANGIBLE FIXED ASSETS |
| Freehold property |
Plant and machinery |
Totals |
| £ | £ | £ |
| COST |
| At 1 April 2018 and 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 8. | FIXED ASSET INVESTMENTS |
| Shares in group undertakings |
| £ |
| MARKET VALUE |
| At 1 April 2018 and 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 | 1 |
| At 31 March 2018 | 1 |
| There were no investment assets outside the UK. |
| The company's investments at the balance sheet date in the share capital of companies include the following: |
| Registered office: Rosemount House, Rosemount Avenue, West Byfleet, Surrey, KT14 6LB |
| Nature of business: Provision of bar and recreation facilities |
| % |
| Class of share: | holding |
| 31.3.18 |
| £ | £ |
| Aggregate capital and reserves |
| Profit/(loss) for the year | ( |
) |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| for the Year Ended 31 March 2019 |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Amounts owed by participating interests |
| Prepayments |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Amounts owed to participating interests | 18,318 | 15,318 |
| Other creditors |
| Accrued expenses |
| 11. | MOVEMENT IN FUNDS |
At 1.4.18 |
Net movement in funds |
At 31.3.19 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 3,017 | (215 | ) | 2,802 |
| TOTAL FUNDS | (215 | ) | 2,802 |
| Net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 21,807 | (22,022 | ) | (215 | ) |
| TOTAL FUNDS | ( |
) | (215 | ) |
| Comparatives for movement in funds |
At 1.4.17 |
Net movement in funds |
At 31.3.18 |
| £ | £ | £ |
| Unrestricted Funds |
| General fund | 7,486 | (4,469 | ) | 3,017 |
| TOTAL FUNDS | 7,486 | (4,469 | ) | 3,017 |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| for the Year Ended 31 March 2019 |
| 11. | MOVEMENT IN FUNDS - continued |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 24,590 | (29,059 | ) | (4,469 | ) |
| TOTAL FUNDS | 24,590 | (29,059 | ) | (4,469 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
At 1.4.17 |
Net movement in funds |
At 31.3.19 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 7,486 | (4,684 | ) | 2,802 |
| TOTAL FUNDS | 7,486 | (4,684 | ) | 2,802 |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 46,397 | (51,081 | ) | (4,684 | ) |
| TOTAL FUNDS | 46,397 | (51,081 | ) | (4,684 | ) |
| 12. | RELATED PARTY DISCLOSURES |
| During the year the charity donated £10,000 (2018: £15,500) to Kingsmeadow Club Limited, its subsidiary |
| undertaking. |
| At 31 March 2019, the charity owed £18,318 (2018: £15,318) to Kingsmeadow Club Limited. |
| During the year the charity received rent of £1,000 (2018: £3,500) and was recharged expenditure totalling £317 |
| from Kingsmeadow 3G Limited, a related company due to R Adamson's involvement as both director and |
| shareholder. |
| As at 31 March 2019, the charity was owed £19,908 (2018: £19,226) by Kingsmeadow 3G Limited. |