AEK BOCO FC LTD - Charities report - 22.2
AEK BOCO FC LTD - Charities report - 22.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2022 |
| for |
| AEK BOCO FC LTD |
| AEK BOCO FC LTD |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2022 |
| 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 | 10 |
| AEK BOCO FC LTD (Registered number: 05513835) |
| Report of the Trustees |
| for the Year Ended 31 May 2022 |
| 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 May 2022. 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 objective of the charity is to promote community participation in healthy recreation through the provision of facilities for playing football. |
| The main activities of the charity are coaching and arranging amateur association football matches for its members.The membership is open to the wider section of the public. |
| Grantmaking |
| The Charity does not make any grants. |
| Volunteers |
| The charity is run by volunteers who are not entitled to remuneration. |
| FINANCIAL REVIEW |
| Principal funding sources |
| Charity's principal source of funds are income from member's voluntary subscriptions, registration fees, sponsorships, grants ,donations from the public and Gift Aid payment from the subsidiary etc. |
| Funds in deficit |
| There are no funds in deficit. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| Tha charity is controlled by its governing document, Memorandum and Articles of Association , and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Wormald & Partners |
| Chartered Accountants (ICAEW) |
| Redland House |
| 157 Redland Road |
| Redland |
| Bristol |
| BS6 6YE |
| AEK BOCO FC LTD (Registered number: 05513835) |
| Report of the Trustees |
| for the Year Ended 31 May 2022 |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| AEK BOCO FC LTD |
| Independent examiner's report to the trustees of AEK BOCO FC LTD ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2022. |
| 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 |
| Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Senior Partner which is one of the listed bodies. |
| 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 R Patel |
| Senior Partner |
| Wormald & Partners |
| Chartered Accountants (ICAEW) |
| Redland House |
| 157 Redland Road |
| Redland |
| Bristol |
| BS6 6YE |
| Date: ............................................. |
| AEK BOCO FC LTD |
| Statement of Financial Activities |
| (Incorporating an Income and Expenditure Account) |
| for the Year Ended 31 May 2022 |
| 2022 | 2021 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Other trading activities | 2 |
| Investment income | 3 |
| Other income |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Other |
| Total |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 264,178 |
| AEK BOCO FC LTD (Registered number: 05513835) |
| Balance Sheet |
| 31 May 2022 |
| 2022 | 2021 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 |
| CURRENT ASSETS |
| Debtors: amounts falling due within one year | 9 |
| Investments | 10 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 11 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 12 |
| Unrestricted funds: |
| General fund | 421,499 | 264,178 |
| TOTAL FUNDS | 264,178 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 |
| AEK BOCO FC LTD |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2022 |
| 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 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. |
| Preparation of consolidated financial statements |
| AEK Boco FC Ltd owns 100% shares in it's subsidiary company named as AEK Boco FC Trading Limited.The financial statements contain information about AEK Boco FC Ltd as an individual charitable company and do not contain consolidated financial information as the parent of the group. The Company has taken the option under section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| 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. |
| Club house | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| The directors and trustees have carried out a full impairment review in accordance with FRS 11, as a result of which no depreciation charge is made in respect of Club House on the ground that the estimated residual value is not materially different from its carrying value in the Balance Sheet. |
| 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. |
| Government grants |
| Government grants are recognised in income when the grant proceeds are receivable provided that the terms of the grant do not impose future performance related conditions, as allowed by the performance model under FRS 102. |
| AEK BOCO FC LTD |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2022 |
| 2. | OTHER TRADING ACTIVITIES |
| 2022 | 2021 |
| £ | £ |
| Charity match | - | 3,700 |
| Kit money | 1,623 | 500 |
| Fund raising events | 1,000 | - |
| Ticket sales | 859 | - |
| 3. | INVESTMENT INCOME |
| 2022 | 2021 |
| £ | £ |
| Deposit account interest |
| 4. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2022 | 2021 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 May 2022 nor for the year ended 31 May 2021. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 May 2022 nor for the year ended 31 May 2021. |
| 6. | STAFF COSTS |
| The average number of employees during the year was 0 (2020: 0). |
| The average monthly number of employees during the year was as follows: |
| 2022 | 2021 |
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted |
| fund |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Other trading activities |
| Investment income |
| Other income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Other |
| AEK BOCO FC LTD |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2022 |
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted |
| fund |
| £ |
| Total |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 264,178 |
| 8. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Club | and | Motor | Computer |
| house | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 June 2021 |
| Additions |
| At 31 May 2022 |
| DEPRECIATION |
| At 1 June 2021 |
| Charge for year |
| At 31 May 2022 |
| NET BOOK VALUE |
| At 31 May 2022 |
| At 31 May 2021 |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Charitable donation receivable | 8,580 | - |
| AEK Boco FC Trading Ltd | 20,576 | 19,872 |
| Gift aid tax refund due | - | 496 |
| Prepayments |
| 10. | CURRENT ASSET INVESTMENTS |
| 2022 | 2021 |
| £ | £ |
| Shares in group undertakings | 100 | 100 |
| AEK BOCO FC LTD |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2022 |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Accrued expenses |
| 12. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.6.21 | in funds | 31.5.22 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 264,178 | 157,321 | 421,499 |
| TOTAL FUNDS | 157,321 | 421,499 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 258,459 | (101,138 | ) | 157,321 |
| TOTAL FUNDS | ( |
) | 157,321 |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.6.20 | in funds | 31.5.21 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 244,014 | 20,164 | 264,178 |
| TOTAL FUNDS | 244,014 | 20,164 | 264,178 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 67,964 | (47,800 | ) | 20,164 |
| TOTAL FUNDS | 67,964 | (47,800 | ) | 20,164 |
| AEK BOCO FC LTD |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2022 |
| 12. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.6.20 | in funds | 31.5.22 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 244,014 | 177,485 | 421,499 |
| TOTAL FUNDS | 244,014 | 177,485 | 421,499 |
| 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 | 326,423 | (148,938 | ) | 177,485 |
| TOTAL FUNDS | 326,423 | (148,938 | ) | 177,485 |
| 13. | RELATED PARTY DISCLOSURES |
| Amount advanced to 100% subsidiary company AEK Boco FC (Trading) Ltd at 31 May 2021 is £19,872.25 (2020, £17,546.23). |