Meadow Sports And Old Wokingians Limited - Charities report - 21.2
Meadow Sports And Old Wokingians Limited - Charities report - 21.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| FOR |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2021 |
| Page |
| Report of the trustees | 1 | to | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 | to | 9 |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED (REGISTERED NUMBER: 02033414) |
| REPORT OF THE TRUSTEES |
| for the year ended 31 March 2021 |
| 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 31 March 2021. 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 2019). |
| 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 two 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 |
| - Ongoing financial stability for the bar and clubhouse |
| Significant activities |
| The committee continues to focus on initiatives to improve the grass laying surfaces and to continue to provide summer tournaments for Adults and youth teams which will add revenue in the bar and further enhance the local community relationships. |
| Public benefit |
| The charity has taken the commission's public guidance into account when making any relevant decisions. The activities of the charity benefit the public by providing social and community facilities. |
| 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. |
| Covid restrictions remained in place throughout the year but nevertheless it was possible to complete a nearly full fixture list. With risk assessments in place and very limited usage of clubhouse facilities, it was possible to enjoy an abnormal season - but one which was exceptionally welcome to all involved with the charity. |
| Further grant support has been received from Woking Borough Council during the year and this has made it possible to continue providing a good quality experience in difficult circumstances for all our teams. |
| 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. |
| Investment policy and objectives |
| The club will continue to invest in updating the club house and playing facilities, having updated the furnishing and flooring in the club house and changing rooms areas in the past financial year. |
| 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 and 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. |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED (REGISTERED NUMBER: 02033414) |
| REPORT OF THE TRUSTEES |
| for the year ended 31 March 2021 |
| 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 S Davern. |
| 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. |
| 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. |
| MSOW have appointed a COVID 19 officer after the year-end to ensure that the building and surrounds adhere to COVID related regulations. A full risk assessment has been completed and it is asked that all members to adhere to it. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| 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 2021 |
| 2021 | 2020 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Charitable activities |
| Other trading activities | 3 |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | ( |
) |
| TOTAL FUNDS CARRIED FORWARD | ( |
) | (17,507 | ) |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED (REGISTERED NUMBER: 02033414) |
| BALANCE SHEET |
| 31 March 2021 |
| 2021 | 2020 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 8 |
| CURRENT ASSETS |
| Debtors | 9 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 10 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) | ( |
) |
| FUNDS | 11 |
| Unrestricted funds | ( |
) | (17,507 | ) |
| TOTAL FUNDS | ( |
) | (17,507 | ) |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2021 |
| 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 2019)', 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. |
| 3. | OTHER TRADING ACTIVITIES |
| 2021 | 2020 |
| £ | £ |
| Rent receivable | - | 1,000 |
| Hire of hall | - | 1,349 |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2021 |
| 4. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2021 | 2020 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted |
| fund |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Charitable activities |
| Other trading activities |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | (17,507 | ) |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2021 |
| 7. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2020 and 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 and 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| 8. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| MARKET VALUE |
| At 1 April 2020 and 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 | 1 |
| At 31 March 2020 | 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: Sundial House, High Street, Horsell, Woking, Surrey, GU21 4SU |
| Nature of business: Provision of bar and recreation facilities |
| % |
| Class of share: | holding |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Prepayments |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2021 |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Amounts owed to participating interests | 13,706 | 13,818 |
| Other creditors |
| Accrued expenses |
| 11. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.4.20 | in funds | 31.3.21 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | (17,507 | ) | 8,268 | (9,239 | ) |
| TOTAL FUNDS | ( |
) | 8,268 | (9,239 | ) |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 18,600 | (10,332 | ) | 8,268 |
| TOTAL FUNDS | ( |
) | 8,268 |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.4.19 | in funds | 31.3.20 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 2,802 | (20,309 | ) | (17,507 | ) |
| TOTAL FUNDS | 2,802 | (20,309 | ) | (17,507 | ) |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 22,750 | (43,059 | ) | (20,309 | ) |
| TOTAL FUNDS | 22,750 | (43,059 | ) | (20,309 | ) |
| MEADOW SPORTS AND OLD WOKINGIANS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2021 |
| 11. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.4.19 | in funds | 31.3.21 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 2,802 | (12,041 | ) | (9,239 | ) |
| TOTAL FUNDS | 2,802 | (12,041 | ) | (9,239 | ) |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 41,350 | (53,391 | ) | (12,041 | ) |
| TOTAL FUNDS | 41,350 | (53,391 | ) | (12,041 | ) |
| 12. | RELATED PARTY DISCLOSURES |
| At 31 March 2021, the charity owed £13,706 (2020: £13,818) to it's subsidiary, Kingsmeadow Club Limited. |