Bromley Cross Football Club - Charities report - 21.2

REGISTERED COMPANY NUMBER: 07577919 (England and Wales)

REGISTERED CHARITY NUMBER: 1141575

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

FOR

BROMLEY CROSS FOOTBALL CLUB

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

12

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 30 June 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

To provide the opportunity to play football for children and adults in the Bromley Cross Community, and to eventually provide our own independent football facilities to secure the future of the football club and that of children's football in the community.

The trustees have reviewed the objectives and aims of the charity and are more than satisfied that they provide public benefit.

ACHIEVEMENT AND PERFORMANCE

During the year we provided facilities for 12 teams to take part in various football leagues. The trustees continued their efforts to obtain funding for our own pitches and will continue to do so.

Plans for future periods

During the next twelve months plans are to continue the efforts to support the various teams and be able to fund the purchase of pitches for use by the charity.

FINANCIAL REVIEW

Investment policy and objectives

The charity does not have any investments. Accumulated profits have been retained on bank deposit where it will remain until sufficient to allow the charity to buy land and equipment which is the charity's ultimate goal.

The charity's statement of financial activities is presented on page 4.

Reserves policy

It is the policy of the charity to maintain unrestricted funds in order to ensure the day to day running of the charity.

Free reserves at the year end were £40,714 (2020 - £13,412).

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 power to appoint or remove a trustee is vested in the trustees.

Organisational structure

The affairs of the scheme are managed by the trustees.

Risk management

The trustees have a duty to identify and review the risks to which the club is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07577919 (England and Wales)

Registered Charity number

1141575

Registered office

24 Kiln Brow

Bromley Cross

Bolton

Lancashire

BL7 9NR

Trustees

N W Polding

E Needham

R Needham

D Norris

Company Secretary

Mrs R Needham

Independent Examiner

D A Kay F.C.A.

Chartered Accountant

Barlow Andrews LLP

Carlyle House

78 Chorley New Road

Bolton

Lancashire

Bankers

HSBC Bank Plc

Hillview Road

Astley Bridge

Bolton

Lancashire

BL1 8QQ

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 14 March 2022 and signed on its behalf by:

N W Polding - Trustee

Independent examiner's report to the trustees of Bromley Cross Football Club ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.

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.

D A Kay F.C.A.

Chartered Accountant

Barlow Andrews LLP

Carlyle House

78 Chorley New Road

Bolton

Lancashire

14 March 2022

2021

2020

Unrestricted

Total

fund

funds

Notes

£

£

INCOME FROM

Charitable activities

3

Football club

41,006

20,612

EXPENDITURE ON

Charitable activities

4

Football club

14,721

21,250

Other

316

300

Total

15,037

21,550

NET INCOME/(EXPENDITURE)

25,969

(938

)

RECONCILIATION OF FUNDS

Total funds brought forward

14,745

15,683

TOTAL FUNDS CARRIED FORWARD

40,714

14,745

2021

2020

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

8

-

1,333

CURRENT ASSETS

Debtors

9

674

-

Cash at bank

46,182

18,540

46,856

18,540

CREDITORS

Amounts falling due within one year

10

(6,142

)

(5,128

)

NET CURRENT ASSETS

40,714

13,412

TOTAL ASSETS LESS CURRENT LIABILITIES

40,714

14,745

NET ASSETS

40,714

14,745

FUNDS

11

Unrestricted funds

40,714

14,745

TOTAL FUNDS

40,714

14,745

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 14 March 2022 and were signed on its behalf by:

N W Polding - Trustee

E Needham - Trustee

R Needham - Trustee

1.	COMPANY INFORMATION

Bromley Cross Football Club is a charitable company established under a trust deed. The registered office is 24 Kiln Brow, Bromley Cross, Bolton, Lancashire BL7 9NR.

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.

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.

Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees' continue to adopt the going concern basis of accounting in preparing the accounts.

Tangible fixed assets

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

Equipment

-

25% on cost

Taxation

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

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call on banks.

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.

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3.	INCOME FROM CHARITABLE ACTIVITIES

2021

2020

Activity

£

£

Subscriptions

Football club

18,886

20,612

Grants

Football club

22,120

-

41,006

20,612

4.	CHARITABLE ACTIVITIES COSTS

Direct

Costs

£

Football club

14,721

5.	NET INCOME/(EXPENDITURE)

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

2021

2020

£

£

Depreciation - owned assets

1,333

1,999

6.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.

7.	STAFF COSTS

There were no employees during either the current or the preceding year.

8.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 July 2020 and 30 June 2021

11,051

DEPRECIATION

At 1 July 2020

9,718

Charge for year

1,333

At 30 June 2021

11,051

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

1,333

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Prepayments and accrued income

674

-

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other creditors

5,167

4,928

Accruals and deferred income

975

200

6,142

5,128

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.7.20

in funds

30.6.21

£

£

£

Unrestricted funds

General fund

14,745

25,969

40,714

TOTAL FUNDS

14,745

25,969

40,714

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

41,006

(15,037

)

25,969

TOTAL FUNDS

41,006

(15,037

)

25,969

Comparatives for movement in funds

Net

movement

At

At 1.7.19

in funds

30.6.20

£

£

£

Unrestricted funds

General fund

15,683

(938

)

14,745

TOTAL FUNDS

15,683

(938

)

14,745

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

20,612

(21,550

)

(938

)

TOTAL FUNDS

20,612

(21,550

)

(938

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.7.19

in funds

30.6.21

£

£

£

Unrestricted funds

General fund

15,683

25,031

40,714

TOTAL FUNDS

15,683

25,031

40,714

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

61,618

(36,587

)

25,031

TOTAL FUNDS

61,618

(36,587

)

25,031

12.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 June 2021.

13.	LIABILITY OF MEMBERS

Every member of the company undertakes to contribute to the assets of the company, in the event of the same being wound up while he is a member, or within one year after he ceased to be a member, for payment of the debts and liabilities of the company contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves such amount as may be required not exceeding ten pound.

14.	CHARITABLE COMPANY STATUS

The company is incorporated as a company limited by guarantee and not having a share capital. It is registered as a charity and is exempt from taxation.