INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF ESSEX DISABLED SPORTS FOUNDATION
I report on the accounts of the Foundation for the year ended 31st October 2020 which are set out on pages 5 to 9.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Charities Act;
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to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Charities Act;
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Charities Act and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Charities Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached
Name: Mr Kevin Wells Address: 10-12 Mulberry Green, Old Harlow, Essex, CM17 0ET Date: 27[th] July 2021
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ESSEX DISABLED SPORTS FOUNDATION – YEAR ENDED 31[st] OCTOBER 2020
Reference and administrative information
Trustees
Mr S G Osbourn FCA Mr M C Jackson MBE
Principal Address
Toad Hall, New Barn Lane, Little Hallingbury, Hertfordshire, CM22 7PR
Charity number: 1001176
Independent Examiner
Mr Kevin Wells, employed by Giess Wallis Crisp LLP, Chartered Accountants, 10-12 Mulberry Green, Old Harlow, Essex, CM17 0ET
Bankers
NatWest Bank plc, 12 The Rows, Harlow, Essex, CM20 1BZ
Report of the trustees for the year ended 31[st] October 2020
The trustees present their annual report and financial statements of the charity for the year ended 31[st] October 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities published in 2005.
Structure, governance and management
The Foundation is a registered charity, number 1001176, and is constituted under a trust deed dated 3[rd] October 1990.
Risk management
The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks.
Internal risks are minimised by all cheque expenditure being authorised by two trustees. Sums are not committed on charitable expenditure unless the trustees have good reason to expect income flows to cover the charitable expenditure. Liability risks at events held by the charity are covered by relevant insurance policies being take out. Funds are held at NatWest Bank in a current account or no-notice deposit account.
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ESSEX DISABLED SPORTS FOUNDATION – YEAR ENDED 31[st] OCTOBER 2020
Objectives and activities for the public benefit
The charity is established to provide sporting activities and opportunities for children and young adults with special needs in Essex and surrounding counties. The trustees are aided by many volunteers, to whom the trustees wish to extend their thanks. The charity works closely with many local schools and organisations that deal with children and young adults with special needs. The charity carries out its objects by organising sports experience days, a children’s sporting lunch and by making donations direct to organisations and individuals.
Activities and review of the year
Unfortunately, due to the pandemic we were unable to hold sports experience days this year.
An integral element of our programme each year is the Christmas Children’s Sporting Lunch and this year over 600 children with special needs together with their helpers from special schools attended. The highlight of the lunch is an award ceremony to some of the children who have made significant achievements in sport. This is to recognise endeavour rather than elitism.
Future developments
The charity plans to continue activities as outlined above in future years.
Financial review
The Foundation’s work is reliant on fundraising and donations.
The charity has a 100% shareholding in a trading subsidiary, The Presidents Sporting Club Limited. The charity’s shareholding is two ordinary shares of £1 each. The trading subsidiary covenants its profits to the charity every year, the covenanted donation for the year ended 31[st] October 2020 being £16,319. The trustees consider the trading performance of the subsidiary to be satisfactory. A summary of the subsidiary’s trading performance is detailed in the notes to the accounts.
Income is recognised in the Foundation’s accounts when received, excepting that provision is made in the accounts for the covenanted donation to be received from the trading subsidiary.
Reserves policy
The attached financial statements show the current state of the finances which the trustees consider to be sound. The trustees consider it prudent to retain reserves they would consider to be reasonable in order to fund future charitable activity. Reserves are held on no-notice deposit at NatWest Bank, Harlow. Fundraising activities may possibly fall in the future, so having reasonable reserves now will enable charitable expenditure to remain at present levels for some time. All reserves are unrestricted funds and are utilised as and when the trustees deem reasonable to do so.
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ESSEX DISABLED SPORTS FOUNDATION – YEAR ENDED 31[st] OCTOBER 2020
Trustees’ responsibilities in relation to the financial statements
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK generally accepted accounting practice). The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
select suitable account policies and then apply them consistently;
observe the methods and principles of the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its operations.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ascertain to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website.
Approved by the trustees on 27[th] July 2021 and signed on their behalf by:
M C Jackson MBE
M C Jackson MBE, TRUSTEE
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ESSEX DISABLED SPORTS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR TO 31[st] OCTOBER 2020
INCOME AND EXPENDITURE
| Unrestricted | ||||
|---|---|---|---|---|
| Notes | Funds | Total | 2019 | |
| INCOMING RESOURCES | £ | £ | £ | |
| Donations | 6 | 38,650 | 38,650 | 90,818 |
| Deposit Interest | 165 | 165 | 314 | |
| TOTAL INCOMING RESOURCES | 38,815 | 38,815 | 91,132 | |
| COSTS OF ACTIVITIES IN FURTHERANCE OF THE CHARITY’S | OBJECTIVES | |||
| Donations | 10 | 920 | 920 | 4,500 |
| Children’s Sporting Lunch | 31,187 | 31,187 | 29,338 | |
| Sports Experience Days | - | - | 29,903 | |
| 32,107 | 32,107 | 63,741 | ||
| FUND RAISING COSTS | ||||
| Marathon Expenses | 3,584 | 3,584 | 8,472 | |
| MANAGEMENT AND ADMINISTRATION OF THE | CHARITY | |||
| Travel | 158 | 158 | - | |
| Postage & Sundries | 5 | 5 | 1,762 | |
| 163 | 163 | 1,762 | ||
| TOTAL RESOURCES EXPENDED | 35,854 | 35,854 | 73,975 | |
| NET INCOMING RESOURCES/ | ||||
| (RESOURCES EXPENDED) FOR | ||||
| THE YEAR BEING NET | ||||
| MOVEMENT IN FUNDS | 2,961 | 2,961 | 17,157 | |
| FUND BALANCES |
BROUGHT | 187,391 | 187,391 | 170,234 |
| FORWARD | ||||
| FUND BALANCES CARRIED | FORWARD | 190,352 | 190,352 | 187,391 |
| CONTINUING OPERATIONS |
All income and expenditure has arisen from continuing activities.
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The notes on pages 7 to 9 form part of these accounts.
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ESSEX DISABLED SPORTS FOUNDATION
BALANCE SHEET AS AT 31[st] OCTOBER 2020
| Unrestricted | 2020 | |||
|---|---|---|---|---|
| Notes | Funds | Total | 2019 | |
| Funds | ||||
| CURRENT ASSETS | £ | £ | £ | |
| Investment in Subsidiary | 3 | 2 | 2 | 2 |
| Debtors | 7 | 21,071 | 21,071 | 25,583 |
| Bank Deposit Account | 168,979 | 168,979 | 161,306 | |
| Bank Current Account | 500 | 500 | 500 | |
| 190,552 | 190,552 | 187,391 | ||
| CREDITORS | ||||
| Creditors and Accruals | 8 | 200 | 200 | - |
| NET ASSETS | 4 | 190,352 | 190,352 | 187,391 |
| FUNDS | ||||
| UNRESTRICTED INCOME FUNDS: | ||||
| General Purposes Fund | 9 | 190,352 | 190,352 | 187,391 |
| The notes set out on pages 7 to 9 form part of these accounts | ||||
| Approved by the trustees on 27thJuly 2021 and signed on | their behalf by: | |||
| S G Osbourn FCA |
S G Osbourn FCA, TRUSTEE
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ESSEX DISABLED SPORTS FOUNDATION
NOTES TO THE ACCOUNTS FOR THE YEAR TO 31[st] OCTOBER 2020
1. ACCOUNTING POLICIES
Basis of preparation
These financial statements have been prepared under the historic cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) issued in March 2005 and applicable UK Accounting Standards and the Charities Act 2011.
2. RESOURCES EXPENDED
All expenses are identified as being for the management and administration of the charity unless they are marathon expenses (included in fund raising costs) or donations, children’s sporting lunch or sports experience days (included in charitable expenditure).
3. SUBSIDIARY UNDERTAKING
The charity is the 100% shareholder (two ordinary shares of £1 each) in The Presidents Sporting Club Limited, the trading subsidiary of the charity. The subsidiary covenants its annual profits to the charity. Consolidated accounts for the charity and its subsidiary have not been prepared because in the opinion of the trustees the cost and effort of preparing consolidated accounts would be disproportionate to the benefits accruing to users of the accounts. Unaudited accounts of The Presidents Sporting Club Limited for the year to 31st October 2020 have been filed at Companies House. The Trustees are not aware of any note or reservation contained in the accounts to call attention to a matter which, apart from the note or reservation, would properly have been referred to in a qualification in any audit or other statutory report on the accounts.
A summary of the capital and reserves of the Presidents Sporting Club Limited as at 31st October 2020 is as follows:
| CALLED UP SHARE CAPITAL PROFIT AND LOSS ACCOUNT EQUITY SHAREHOLDERS’ FUNDS TURNOVER COST OF SALES GROSS PROFIT ADMINISTRATIVE EXPENSES |
£ 2 - 2 £ 40,959 23,390 |
|---|---|
| 17,569 | |
| 17,569 |
Administrative expenditure includes a covenanted donation to the charity of £16,319.
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ESSEX DISABLED SPORTS FOUNDATION
NOTES TO THE ACCOUNTS FOR THE YEAR TO 31[st] OCTOBER 2020
4. ANALYSIS OF NET ASSETS BY FUND
| Current Assets Current Liabilities |
General Purposes Fund (unrestricted) Total £ £ 190,552 190,552 200 200 |
|---|---|
| 190,352 190,352 |
5. TRUSTEES’ REMUNERATION AND EXPENSES
No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any trustee or to any person or persons known to be connected with any of them.
Reimbursement of expenses incurred on behalf of the Charity of £215 (2019 £1,727) to Mr M C Jackson MBE was made during the year. The trading subsidiary does from time to time reimburse expenditure properly incurred on behalf of the subsidiary to trustees of the charity in their roles as officers of the subsidiary. No remuneration is paid either to trustees of the charity or any other person by the trading subsidiary.
6. DONATIONS RECEIVABLE
| Covenanted donation from trading subsidiary Others |
2020 2019 £ £ 16,319 17,663 22,331 73,155 |
|---|---|
| 38,650 90,818 |
7 . DEBTORS
| Covenanted donation from trading subsidiary Prepayments & debtors |
2020 2019 £ £ 16,319 17,663 4,752 7,920 |
|---|---|
| 21,071 25,583 |
8. CREDITORS AND ACCRUALS
| 2020 |
2019 | ||
|---|---|---|---|
| £ | £ | ||
| Other creditors | 200 | - |
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ESSEX DISABLED SPORTS FOUNDATION
NOTES TO THE ACCOUNTS FOR THE YEAR TO 31[st] OCTOBER 2020
9. MOVEMENT IN FUNDS
| At 1.11.2019 | Net | movement in | At 31.10.2020 | At 31.10.2020 | |
|---|---|---|---|---|---|
| funds | |||||
| £ | £ | £ | |||
| Unrestricted funds | 187,391 | 2,961 | 190,352 | ||
| Net movement in funds included | in the above are as follows: | ||||
| Incoming resources | Resources expended | Movement | in | ||
| fund | |||||
| £ | £ | £ | |||
| Unrestricted funds income and | |||||
| expenditure account | 38,815 | 35,854 | 2,961 | ||
| 10. DONATIONS |
|||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Helen Thompson | - | 3,500 | |||
| Esme O’Connell | - | 1,000 | |||
| Ollie Hopkins | 408 | - | |||
| Leukaemia Research | 512 | - |
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