Oxford City Sport in the Community Ltd
(A charitable company limited by guarantee)
Registered Charity No: 1004465
Registered Company No: 2631845
Unaudited accounts
for the year ended 30th May 2021
Wenn Townsend
Chartered Accountants
Oxford
Oxford City Sport in the Community Ltd
Reference and Administrative Details
Trustees:
The trustees of the charity during the year and since the year end were:
| Directors/Trustees: | B M Cox |
|---|---|
| P Lyon | |
| J Merritt | |
| P Townsend | |
| Trustees: | L Hextall |
| Registered Office: | Oxford City Community Arena |
| Marsh Lane | |
| Headington | |
| Oxford | |
| OX3 0NQ | |
| Company Registered Number: | 2631845 |
| Charity Registered Number: | 1004465 |
| Independent Examiners: | Wenn Townsend |
| Chartered Accountants | |
| 30 St Giles | |
| Oxford | |
| OX1 3LE | |
| Bankers: | Lloyds TSB |
| Abingdon |
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Oxford City Sport in the Community Ltd
Report of the Trustees
for the year ended 30th May 2021
The Trustees present their report and the financial statements for the year ended 30th May 2021.
Structure, governance and management
The company, registered in England, is also a charity registered with the Charity Commissioners and registered in England. The company does not have any share capital and is limited by guarantee. The charity is managed by a Council of Management which is comprised from its members. The charity is governed by its memorandum and articles of association.
Objectives and activities
The principal activity of the charity is to provide facilities for young people to play football and other sports and to develop sport generally.
Other charitable aims
-
increasing participation
-
promoting health, exercise and activity
-
social inclusion and working with specific groups
Activities during the year for the public benefit
This has been a year with a difference due to the continued presence of COVID in the community. The national lockdown in March 2020 resulted in the temporary closure of the facility. The facility was still closed at the start of the financial year and all activity was paused until October 2020. It reopened temporarily before another lockdown was introduced in the winter. The site reopened in March 2021 and has remained operational ever since.
Since the Community Arena was reopened after the COVID lockdowns, the project has yet again been a major success. Over 50,000 users have visited the club’s excellent facilities, generating further growth within the community and promoting the development of football and other sports in line with the charity objectives. We noticed a significant increase in the demand for our facility since the site reopened. This is the central venue for all Oxfordshire netball league matches with further increases in junior netball participation recorded during the year. The ‘town and gown’ relationship remains very active with the club established as a regular training base for the Oxford University football, rugby league, cycling, and lacrosse teams and host to many college and Brookes University matches. The support of the Football Foundation and Sport England made this project possible and this is hugely appreciated by the Trustees.
The well known Oxford City ethos of supporting sports participation for vulnerable, disadvantaged and disabled persons was reopened after the last lockdown. The club is established as the central venue for all BOBi League Premier matches for players with mental health issues and there are strong links with the local NHS and the excellent charities Mind and Combat Stress. Oxford City Casuals membership continues to expand with players with learning disabilities joining the club from all over the county. We are specifically also grateful to the students of St. Clares, Oxford who regularly support our Casuals training sessions.
None of this excellent progress at Oxford City would be possible without the wonderful volunteers coaching and supporting the unique outreach aspects of the club and the Trustees are particularly grateful for their truly exceptional support and dedication.
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Oxford City Sport in the Community Ltd
Report of the Trustees (continued)
for the year ended 30th May 2021
Financial review
The Statement of Financial Activities shows a deficit for the year of £9,902 (2020: surplus £135,180). There were net assets of £872,516 (2020: £882,418) at 30th May 2021.
Reserves Policy
The Trustees are aware that the level of reserves was overdrawn at the balance sheet date but the Trustees are actively addressing the need to improve reserves.
Principal risks and uncertainties
The Trustees have examined the major strategic, business and operational risks which the Charity faces or may face, and confirm that insurances and systems are in place to mitigate any such risks.
The major risk the Charity faces is its continued financing arrangements, particularly in view of the large liabilities the Charity is carrying. Active action is being taken to resolve this position.
Going concern
These accounts have been prepared on the going concern basis, on the understanding that the creditors will continue to financially support the charity for at least 12 months from the date of signature of these accounts.
The financial position of the Charity as at the date of signature of these accounts is stable. The charity is expected to continue for at least 12 months despite the uncertain times that we are experiencing due to COVID-19.
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Oxford City Sport in the Community Ltd
Report of the Trustees (continued)
for the year ended 30th May 2021
Statement of Trustees' Responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & 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 accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP 2019;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them 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.
On behalf of the board
B M Cox Trustee
25th April 2022
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Oxford City Sport in the Community Ltd
Independent Examiner's Report
to the Trustees of Oxford City Sport in the Community Ltd
I report to the charity trustees on my examination of the accounts of the company for the year ended 30th May 2021 which are set out on page 6 to 14.
Responsibilities and basis of report
As the charity 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 company’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 the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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 that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
B Hayes FCA Wenn Townsend 30 St Giles’ Oxford OX1 3LE
25th April 2022
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Oxford City Sport in the Community Ltd
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 30th May 2021
| Note | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total |
Unrestricted |
Restricted | Total | ||
| 2021 | 2020 | ||||||
| £ | £ | £ | £ | £ | £ | ||
| Income | |||||||
| Donations, grants and subscriptions | 2 | 97,558 | - | 97,558 | 124,795 | - | 124,795 |
| Venue income | 166,422 | - | 166,422 | 192,813 | - | 192,813 | |
| Other income | 3 | 15,162 | - | 15,162 | 221,053 | - | 221,053 |
| Total income | 279,142 | - | 279,142 | 538,661 | - | 538,661 | |
| Expenditure | |||||||
| Charitable activities | 4 | ||||||
| Football costs | 156,749 | - | 156,749 | 250,163 | - | 250,163 | |
| Venue costs | 1,133 | - | 1,133 | 5,446 | - | 5,446 | |
| Support costs | 78,522 | 52,640 | 131,162 | 71,732 | 76,140 | 147,872 | |
| Total expenditure | 236,404 | 52,640 | 289,044 | 327,341 | 76,140 | 403,481 | |
| Net movement in funds | 42,738 | (52,640) | (9,902) | 211,320 | (76,140) | 135,180 | |
| Fund balances brought forward at 31st May 2020 | (449,407) | 1,331,825 | 882,418 | (660,727) | 1,407,965 | 747,238 | |
| Fund balances carried forward at 30th May 2021 | (406,669) | 1,279,185 | 872,516 | (449,407) | 1,331,825 | 882,418 |
The notes on pages 8 to 14 form part of these accounts
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Oxford City Sport in the Community Ltd
Balance Sheet As at 30th May 2021
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Note | |||||||
| £ | £ | £ | £ | ||||
| Fixed assets | |||||||
| Tangible assets | 6 | 1,779,024 | 1,856,458 | ||||
| Current assets | |||||||
| Cash at bank and in | hand | 46,540 | 57,772 | ||||
| Debtors | 7 | 47,447 | 32,587 | ||||
| ────── | ────── | ||||||
| 93,987 | 90,359 | ||||||
| Creditors:Amounts falling due | |||||||
| within one year | 8 | (653,016) | (826,036) | ||||
| ────── | ────── | ||||||
| Net current liabilities | (559,029) | (735,677) | |||||
| ────── | ────── | ||||||
| Total assets less current liabilities | 1,219,995 | 1,120,781 | |||||
| Creditors:Amounts falling due | |||||||
| after one year | 9 | (347,479) | (238,363) | ||||
| ────── | ────── | ||||||
| Net assets | 872,516 | 882,418 | |||||
| ══════ | ══════ | ||||||
| Funds | 10 | ||||||
| Unrestricted funds | - general | (581,669) | (599,407) | ||||
| - designated | 175,000 | 150,000 | |||||
| Restricted funds | 1,279,185 | 1,331,825 | |||||
| ────── | ────── | ||||||
| Total funds | 872,516 | 882,418 | |||||
| ══════ | ══════ |
For the financial year ending 30th May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006.
The financial statements were approved by the Board on 25th April 2022 and signed on its behalf by
…………………………… Trustee – B M Cox
Company number: 2631845
The notes on pages 8 to 14 form part of these accounts.
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Oxford City Sport in the Community Ltd
Notes to the Accounts
for the year ended 30th May 2021
1 Accounting policies
Basis of accounting
The Charity constitutes a public benefit entity as defined by FRS 102. Oxford City Sport in the Community Ltd is a charitable company limited by guarantee in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements.
The nature of the charity’s operations and principal activities are included in the trustees’ report. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and reporting by Charities in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006, the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Income recognition
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income, the amount can be measured reliably, and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
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Oxford City Sport in the Community Ltd
Notes to the Accounts (continued) for the year ended 30th May 2021
1 Accounting policies (continued)
Income recognition (continued)
The charity receives government grants in respect of the CJRS furlough scheme. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Expenditure recognition
Expenditure is accounted for on an accruals basis. Expenses are recognised in the accounts when a legal or constructive obligation arises. Governance costs comprise the cost of running the charity and include the costs of complying with constitutional and statutory requirements.
Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their estimated useful lives as follows:
Improvements to leasehold property - over the term of the lease Fixtures, fittings and equipment - 20% straight line Arena - building and sports facilities - 3% straight line Arena carpet - building and sports facilities - 12.5% straight line Indoor development facilities - 10% straight line
Fixed asset investments
The investment in the subsidiary company is stated at cost less provision for permanent diminution in value.
Operating leases
Rentals paid under operating leases are charged to income as incurred.
Stocks
Stock is valued at the lower of cost and net realisable value.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Employee benefits
When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
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Oxford City Sport in the Community Ltd
Notes to the Accounts (continued) for the year ended 30th May 2021
1 Accounting policies (continued)
Going concern
As at 30th May 2021 the charity’s current liabilities exceeded its current assets by £559,029.
The charity is dependent on the support of its creditors to continue in operation. The Trustees consider that this support will continue for at least 12 months after the date of signature of these accounts and the accounts have therefore been prepared on the going concern basis.
2 Donations, grants and subscriptions
| Donations and grants Membership subscriptions |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2020 £ £ £ £ 86,755 - 86,755 74,503 10,803 - 10,803 50,292 97,558 - 97,558 124,795 |
|---|---|
All donations, grants and subscriptions in 2020 were unrestricted.
| 3 Other income Loans written off Other income |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2020 £ £ £ £ - - - 209,781 15,162 - 15,162 11,272 15,162 - 15,162 221,053 |
|---|---|
All other income in 2020 was unrestricted.
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Oxford City Sport in the Community Ltd
Notes to the Accounts (continued) for the year ended 30th May 2021
4 Expenditure
| Football costs: Travel and other matchday costs Pitch hire Venue costs: Rent and rates Support costs: Bank charges and loan interest Depreciation Sundry expenses (incl office costs) Independent examiner’s fee Management fees Staff costs |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2020 £ £ £ £ 1,749 - 1,749 163 155,000 - 155,000 250,000 81,749 - 81,749 250,163 1,133 - 1,133 5,446 1,133 - 1,133 5,446 972 - 972 2,336 34,897 52,640 87,537 117,776 2,191 - 2,191 1,690 2,500 - 2,500 1,900 - - - 900 37,962 - 37,962 23,270 78,522 52,640 131,162 147,872 236,404 52,640 289,044 403,481 |
|---|---|
With the exception of £76,140 of depreciation, all expenditure in 2020 was unrestricted.
5 Staff costs
| Wages and salaries Social security costs Pension costs |
2021 £ 35,071 2,378 513 _ 37,962 ═════ |
2020 £ 21,000 1,805 460 |
|---|---|---|
| _ 23,270 ═════ |
There was an average of 3 employees in the year ended 30th May 2021 (2020: 3). There were no staff earning over £60,000 (2020: nil).
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Oxford City Sport in the Community Ltd
Notes to the Accounts (continued) for the year ended 30th May 2021
6 Tangible fixed assets
| Improvements | Buildings | Indoor | |||
|---|---|---|---|---|---|
| Office | to leasehold | and sports | development | ||
| Equipment | property | facilities | improvements | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 31st May 2020 | 2,700 | 117,534 | 2,583,406 | 97,729 | 2,801,369 |
| Additions | - | - | - | 10,103 | 10,103 |
| ────── | ────── | ────── | ────── | ────── | |
| At 30th May 2021 | 2,700 | 117,534 | 2,583,406 | 107,832 | 2,811,472 |
| ══════ | ══════ | ══════ | ══════ | ══════ | |
| Depreciation | |||||
| At 31st May 2020 | 1,620 | 80,264 | 812,332 | 50,695 | 944,911 |
| Charge for year | 540 | 6,212 | 70,002 | 10,783 | 87,537 |
| ────── | ────── | ────── | ────── | ────── | |
| At 30th May 2021 | 2,160 | 86,476 | 882,334 | 61,478 | 1,032,448 |
| ══════ | ══════ | ══════ | ══════ | ══════ | |
| Net book value | |||||
| At 30th May 2021 | 540 | 31,058 | 1,701,072 | 46,354 | 1,779,024 |
| ══════ | ══════ | ══════ | ══════ | ══════ | |
| At 31st May 2020 | 1,080 | 37,270 | 1,771,074 | 47,034 |
1,856,458 |
| ══════ | ══════ | ══════ | ══════ | ══════ |
There are first and second legal charges on the buildings and sports facilities.
| 7 | Debtors | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Trade debtors | 45,784 | 30,924 | |
| Other debtors | 1,663 | 1,663 | |
| ────── | ────── | ||
| 47,447 | 32,587 | ||
| ══════ | ══════ | ||
| 8 | Creditors:amounts falling due within one year | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Owed to related company | 509,499 | 612,700 | |
| Trade creditors | 138,907 | 200,575 | |
| Accruals | 3,090 | 5,391 | |
| Taxation and social security | 794 | 6,746 | |
| Other creditors | 726 |
624 | |
| ────── | ────── | ||
| 653,016 | 826,036 | ||
| ══════ | ══════ |
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Oxford City Sport in the Community Ltd
Notes to the Accounts (continued) for the year ended 30th May 2021
9 Creditors: due after one year
| 9 | Creditors:due after one year | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| £ | £ | ||||
| Loans | 347,479 | 238,363 | |||
| ────── | ────── | ||||
| 347,479 | 238,363 | ||||
| ══════ | ══════ | ||||
| 10 | Funds | ||||
| Unrestricted | Designated | Restricted |
Total | ||
| £ | £ | £ | £ | ||
| At 31st May 2020 | (599,407) | 150,000 | 1,331,825 | 882,418 | |
| Net surplus/(deficit) for the year | 42,738 | - | (52,640) | 9,902 | |
| Transfers | (25,000) | 25,000 | - | - | |
| ────── | ────── | ────── | ────── | ||
| At 30th May 2021 | (581,669) | 175,000 | 1,279,185 | 872,516 | |
| ══════ | ══════ | ══════ | ══════ | ||
| Unrestricted | Designated | Restricted |
Total | ||
| £ | £ | £ | £ | ||
| At 31st May 2019 | (780,727) | 120,000 | 1,407,965 | 747,238 | |
| Net surplus/(deficit) for the year | 211,320 | - | (76,140) | 135,180 | |
| Transfers | (30,000) | 30,000 | - | - | |
| ────── | ────── | ────── | ────── | ||
| At 30th May 2020 | (599,407) | 150,000 | 1,331,825 | 882,418 | |
| ══════ | ══════ | ══════ | ══════ |
For the years ended 30th May 2020 and 30th May 2021, restricted funds were represented entirely by fixed assets.
Designated fund
This is a sinking fund for replacement of facilities.
Restricted fund
This is the Arena Development Fund.
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Oxford City Sport in the Community Ltd
Notes to the Accounts (continued) for the year ended 30th May 2021
11 Related party transactions
The charity is connected with Oxford City Football Club (Trading) Limited due to common trustees / directors. During the year, net amounts of £14,699 (2020: £286,443) were recharged to the charity, and £117,900 (2020: £282,821) was repaid to the company in the year. At the balance sheet date, £509,499 (2020: £612,700) was owed by the charity to the company.
The charity is connected with Oxford Football Partnership Limited due to common trustees / directors. During the year, income of £nil (2020: £1,930) was recharged to the charity and £60,879 (2020: £146,640) was lent by the company to the charity in the year. At the balance sheet date, £208,274 (2020: £147,395) was owed to the company by the charity.
The charity is connected with Ignite Sports UK Limited due to a common trustee / director. During the year, net amounts of £55,896 (2020: £18,280) were received by the charity. At the balance sheet date, £72,000 (2020: £16,104) was owed by the company to the charity.
The charity is connected to Fifth Zone Limited, as a trustee is a shareholder of the company and the brother of the director. During the year, the loan balance owing to the company was repaid in full by the charity. An amount of £nil (2020: £15,965) was owed to the company at the balance sheet date.
12 Trustees’ remuneration
The Trustees were not paid or reimbursed for expenses and received no remuneration during the current or preceding year.
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