2024-05-31-accounts - The Hoops Foundation

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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 2024

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:	S Best	(appointed 6thNovember 2024)
	G Box Turnbull	(appointed 5thAugust 2024)
	B M Cox	(deceased 19thApril 2024)
	L Hextall	(appointed 6thNovember 2024)
	P Lyon	(resigned 18thJuly 2023)
	J Merritt
	J P Murray	(appointed 5thJuly 2024)
	E Odhiambo	(appointed 15thOctober 2024)
	P Townsend	(resigned 23rdMarch 2023)
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

Oxford City Sport in the Community Ltd

Report of the Trustees

for the year ended 30th May 2024

The Trustees present their report and the financial statements for the year ended 30th May 2024.

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

The facilities have once again been extensively used, with over 80,000 participants benefiting from the charity's activities throughout the year. We have continued to strengthen collaborations with key stakeholders in the physical activity sector, fostering greater community engagement and supporting the development of football and other sports in alignment with the charity’s objectives. Our Disability programmes have also seen the introduction of Wheelchair football for the first time.

The central venue for Oxfordshire netball has faced more challenges following the necessary court surface repairs resulting in slips and trips and is currently under review.

The ‘town and gown’ relationship remains strong, with the club continuing to serve as a regular training base for Oxford University Football and hosting numerous college and Oxford Brookes University matches.

Oxford City’s commitment to promoting sports participation among vulnerable, disadvantaged, and disabled individuals remains a key focus. The club has expanded its education-specific programmes for EHCP learners and continues to support children in need of financial assistance by serving as a venue for the Holiday Activity Fund.

Additionally, Oxford City FC has reinforced its role as the central venue for all BOBi League Premier matches, providing a safe and supportive environment for players with mental health conditions. Strong partnerships with the NHS and charities such as Mind and Combat Stress have further strengthened these initiatives.

This year we have received lower donations than anticipated and less grant funding however these areas have been addressed and we are confident in the progress ahead of next year.

Public benefit statement

The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.

Oxford City Sport in the Community Ltd

Report of the Trustees (continued)

for the year ended 30th May 2024

Financial review

The Statement of Financial Activities shows a deficit for the year of £39,533 (2023: deficit £9,947), although unrestricted funds were in surplus by £13,108 There were net assets of £777,015 (2023: £816,548) at 30th May 2024.

Reserves Policy

The Trustees are aware that the level of free reserves was overdrawn at the balance sheet date but the Trustees are actively addressing the need to improve reserves and these have further recovered in the current period.

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 have recently experienced due to COVID-19 and other national and global economic factors causing significant cost inflation.

Oxford City Sport in the Community Ltd

Report of the Trustees (continued)

for the year ended 30th May 2024

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

J Merritt Trustee

13[th] February 2025

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 2024 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
the accounts do not accord with those records; or
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
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

13[th] February 2025

Oxford City Sport in the Community Ltd

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 30th May 2024

	Note
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				2024			2023
		£	£	£	£	£	£
Income
Donations, grants and subscriptions	2	112,020	-	112,020	126,172	-	126,172
Venue income		159,763	-	159,763	241,835	-	241,835
Other income	3	-	-	-	70	-	70
Total income		271,783	-	271,783	368,077	-	368,077
Expenditure
Charitable activities	4
Football costs		213,467	-	213,467	201,748	-	201,748
Venue costs		11,229	-	11,229	2,575	-	2,575
Support costs		33,979	52,641	86,620	120,660	52,641	173,301
Total expenditure		258,675	52,641	311,316	324,983	52,641	377,624
Net movement in funds		13,108	(52,641)	(39,533)	43,094	(52,641)	(9,547)
Fund balances brought forward at 31st May 2023		(357,355)	1,173,903	816,548	(400,449)	1,226,544	826,095
Fund balances carried forward at 30th May 2024		(344,247)	1,121,262	777,015	(357,355)	1,173,903	816,548

The notes on pages 8 to 14 form part of these accounts

Oxford City Sport in the Community Ltd

Balance Sheet As at 30th May 2024

				2024
		Note
			£	£	£	£
Fixed assets
Tangible assets		6		1,595,178		1,588,151
Current assets
Cash at bank and in	hand		701		86
Debtors		7	59,086		23,860
			──────		──────
			59,787		23,946
Creditors:Amounts falling due
within one year		8	(41,729)		(118,506)
			──────		──────
Net current liabilities				18,058		(94,560)
				──────		──────
Total assets less current liabilities				1,613,236		1,493,591
Creditors:Amounts falling due
after one year		9		(836,221)		(677,043)
				──────		──────
Net assets				777,015		816,548
				══════		══════
Funds		10
Unrestricted funds	- general			(544,247)		(557,355)
	- designated			200,000		200,000
Restricted funds				1,121,262		1,173,903
				──────		──────
Total funds				777,015		816,548
				══════		══════

For the financial year ending 30th May 2024 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 13[th] February 2025 and signed on its behalf by

…………………………… Trustee – J Merritt

Company number: 2631845

The notes on pages 8 to 14 form part of these accounts.

Oxford City Sport in the Community Ltd

Notes to the Accounts

for the year ended 30th May 2024

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.

Oxford City Sport in the Community Ltd

Notes to the Accounts (continued)

for the year ended 30th May 2024

1 Accounting policies (continued)

Income recognition (continued)

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.

Oxford City Sport in the Community Ltd

Notes to the Accounts (continued) for the year ended 30th May 2024

1 Accounting policies (continued)

Going concern

As at 30th May 2023 the charity’s current liabilities exceeded its current assets by £94,560. The deficit in the current year was due to depreciation – and overall general funds returned a surplus. As at 30[th] May 2024 the charity was showing net current assets of £18,058.

Despite this, 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 2024 2023 £ £ £ £ 110,730 - 110,730 121,262 1,290 - 1,290 4,910 112,020 - 112,020 126,172

3 Other income Other income	Unrestricted Restricted Total Total Funds Funds Funds Funds 2024 2023 £ £ £ £ - - - 70 - - - 70

Oxford City Sport in the Community Ltd

Notes to the Accounts (continued) for the year ended 30th May 2024

4 Expenditure

Football costs: Travel and other matchday costs Pitch hire and other sporting costs Venue costs: Rent, rates and utilities Support costs: Bank charges and loan interest Depreciation Sundry expenses (incl office costs) Independent examiner’s fee Staff costs	Unrestricted Restricted Total Total Funds Funds Funds Funds 2024 2023 £ £ £ £ 13,467 - 13,467 1,748 200,000 - 200,000 200,000 213,467 - 213,467 201,748 11,229 - 11,229 2,575 11,229 - 11,229 2,575 250 - 250 931 25,332 52,641 77,973 77,973 2,810 - 2,810 58 3,420 - 3,420 2,750 2,167 - 2,167 91,589 33,979 52,641 86,620 173,301 258,675 52,641 311,316 377,624

5 Staff costs Wages and salaries Social security costs Pension costs	2024 £ 2,167 - - _ 2,167 ═════	2023 £ 86,819 3,543 1,227
		_ 91,589 ═════

There was an average of 0 employees in the year ended 30th May 2024 (2023: 4). There were no staff earning over £60,000 (2023: nil).

Oxford City Sport in the Community Ltd

Notes to the Accounts (continued) for the year ended 30th May 2024

6 Tangible fixed assets

		Improvements	Buildings	Indoor
	Office	to leasehold	and sports	development
	Equipment	property	facilities	improvements	Total
	£	£	£	£	£
Cost
At 31st May 2023	2,700	117,534	2,583,406	107,832	2,811,472
Additions	-	85,000	-	-	85,000
	──────	──────	──────	──────	──────
At 30th May 2024	2,700	202,534	2,583,406	107,832	2,896,472
	══════	══════	══════	══════	══════
Depreciation
At 31st May 2023	2,700	98,898	1,022,338	99,385	1,223,321
Charge for year	-	6,211	70,002	1,760	77,973
	──────	──────	──────	──────	──────
At 30th May 2024	2,700	105,109	1,092,340	101,145	1,301,294
	══════	══════	══════	══════	══════
Net book value
At 30th May 2024	-	97,425	1,491,066	6,687	1,595,178
	══════	══════	══════	══════	══════
At 31st May 2023	-	18,636	1,561,068	8,447	1,588,151
	══════	══════	══════	══════	══════

There are first and second legal charges on the buildings and sports facilities.

7	Debtors
		2024	2023
		£	£
	Trade debtors	56,962	21,736
	Other debtors	2,124	2,124
		──────	──────
		59,086	23,860
		══════	══════
8	Creditors:amounts falling due within one year
		2024	2023
		£	£
	Trade creditors	38,153	95,441
	Accruals	2,346	3,091
	Taxation and social security	1,230	17,952
	Other creditors	-	2,022
		──────	──────
		41,729	118,506
		══════	══════

Oxford City Sport in the Community Ltd

Notes to the Accounts (continued) for the year ended 30th May 2024

9 Creditors: due after one year

Creditors:due after one year
	2024	2023
	£	£
Loans	104,979	155,449
Owed to related company	731,242	521,594
	──────	──────
	836,221	677,043
	══════	══════

Funds
	Unrestricted	Designated	Restricted	Total
	£	£	£	£
At 31st May 2022	(600,449)	200,000	1,226,544	826,095
Net surplus/(deficit) for the year	43,094	-	(52,641)	(9,547)
Transfers	-	-	-	-
	──────	──────	──────	──────
At 30th May 2023	(557,355)	200,000	1,173,903	816,548
	══════	══════	══════	══════
	Unrestricted	Designated	Restricted	Total
	£	£	£	£
At 31st May 2023	(557,355)	200,000	1,173,903	816,548
Net surplus/(deficit) for the year	13,108	-	(52,641)	(39,533)
Transfers	-	-	-	-
	──────	──────	──────	──────
At 30th May 2024	(544,247)	200,000	1,121,262	777,015
	══════	══════	══════	══════

For the years ended 30th May 2023 and 30th May 2024, 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.

Oxford City Sport in the Community Ltd

Notes to the Accounts (continued) for the year ended 30th May 2024

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 £200,000 (2023: £200,000) were recharged to the charity, and £6,648 (2023: £181,279 repaid) was advanced by the company in the year. At the balance sheet date, £731,242 (2023: £521,594) was owed by the charity to the company. The company has confirmed that it will not require repayment of this balance within 12 months of the accounts approval date.

The charity is connected with Oxford Football Partnership Limited due to common trustees / directors. During the year, £25,682 was repaid by the charity (2023: £43,385). At the balance sheet date, £61,853 (2023: £87,535) 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 £q8,643 (2023: £23,631) were repaid by the charity. At the balance sheet date, £14,726 (2023: £33,369) was owed by the company to the charity on this loan. Facility fees of c£50,000 were charged to the company and owing at the 2024 year end, included in trade debtors. These were settled post year end in the normal course of business.

12 Trustees’ remuneration

The Trustees were not paid or reimbursed for expenses and received no remuneration during the current or preceding year.