Welland Valley Football Club - Charities report - 22.2

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 2023

for

Welland Valley Football Club

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

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 2023. 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 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.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The income for the period is higher than the previous year, resulting in a net loss of £7,246 (2022 - loss £17,956).

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 had been accumulating the additional funds in the general fund with a view to building up sufficient cash balances to enable them to build a club house on the football pitches they lease from the landlord. Due to the long a protracted issues with regards to this plan it has been abandoned as a project. The Trustees are therefore planning to continue 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 private 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

14 Swain Court

Northampton

NN3 8HT

Trustees

M Hardinges

Mrs D Freegard-Hardinges

A Hawkings

D Heath

Independent Examiner

Cheney & Co

310 Wellingborough Road

Northampton

NN1 4EP

Solicitors

Muckle LLP

Time Central

32 Gallowgate

Newcastle upon Tyne

NE1 4BF

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Welland Valley Football Club for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charity SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 9th April 2024 and signed on its behalf by:

D Heath - Trustee

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 2023.

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

Cheney & Co

310 Wellingborough Road

Northampton

NN1 4EP

9th April 2024

2023

2022

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

6,212

4,756

Investment income

2

132

4

Total

6,344

4,760

EXPENDITURE ON

Raising funds

3

13,590

22,716

NET INCOME/(EXPENDITURE)

(7,246

)

(17,956

)

RECONCILIATION OF FUNDS

Total funds brought forward

34,914

52,870

TOTAL FUNDS CARRIED FORWARD

27,668

34,914

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

2023

2022

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

8

-

1,000

CURRENT ASSETS

Cash at bank

28,864

35,040

CREDITORS

Amounts falling due within one year

9

(1,196

)

(1,126

)

NET CURRENT ASSETS

27,668

33,914

TOTAL ASSETS LESS CURRENT LIABILITIES

27,668

34,914

NET ASSETS

27,668

34,914

FUNDS

10

Unrestricted funds

27,668

34,914

TOTAL FUNDS

27,668

34,914

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 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 9th April 2024 and were signed on its behalf by:

D Heath - Trustee

D Freegard-Hardinges - Trustee

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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

2023

2022

£

£

Deposit account interest

132

4

3.	RAISING FUNDS

Raising donations and legacies

2023

2022

£

£

Support costs

13,590

22,716

4.	NET INCOME/(EXPENDITURE)

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

2023

2022

£

£

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 2023 nor for the year ended 31st July 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st July 2023 nor for the year ended 31st July 2022.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

4,756

Investment income

4

Total

4,760

EXPENDITURE ON

Raising funds

22,716

NET INCOME/(EXPENDITURE)

(17,956

)

RECONCILIATION OF FUNDS

Total funds brought forward

52,870

TOTAL FUNDS CARRIED FORWARD

34,914

7.	INDEPENDENT EXAMINATION

An amount of £480 was paid within the year to Cheney & Co for independent examination work (2022: £450.)

8.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1st August 2022 and 31st July 2023

10,000

DEPRECIATION

At 1st August 2022

9,000

Charge for year

1,000

At 31st July 2023

10,000

NET BOOK VALUE

At 31st July 2023

-

At 31st July 2022

1,000

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Accruals and deferred income

1,196

1,126

10.	MOVEMENT IN FUNDS

Net

movement

At

At 1.8.22

in funds

31.7.23

£

£

£

Unrestricted funds

General fund

34,914

(7,246

)

27,668

TOTAL FUNDS

34,914

(7,246

)

27,668

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

6,344

(13,590

)

(7,246

)

TOTAL FUNDS

6,344

(13,590

)

(7,246

)

Comparatives for movement in funds

Net

movement

At

At 1.8.21

in funds

31.7.22

£

£

£

Unrestricted funds

General fund

52,870

(17,956

)

34,914

TOTAL FUNDS

52,870

(17,956

)

34,914

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

4,760

(22,716

)

(17,956

)

TOTAL FUNDS

4,760

(22,716

)

(17,956

)

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

Net

movement

At

At 1.8.21

in funds

31.7.23

£

£

£

Unrestricted funds

General fund

52,870

(25,202

)

27,668

TOTAL FUNDS

52,870

(25,202

)

27,668

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

11,104

(36,306

)

(25,202

)

TOTAL FUNDS

11,104

(36,306

)

(25,202

)

11.	CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st July 2023 or 31st July 2022.

12.	CAPITAL COMMITMENTS

There were no capital commitments as at 31st July 2023 or 31st July 2022.

13.	RELATED PARTY DISCLOSURES

There were no related party transactions as at 31st July 2023 or 31st July 2022.