BEDFORD SPORTS FOUNDATION Charity No: 1052843 Company No: 079201 BEDFORD SPORTS FOUNDATION (A company limited by guarantse) REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
BEDFORD SPORTS FOUNDATION Contents Company information Trustees, annual pOrt Independent Examin6r's report Consolid8ted statement of financial actiwties Consolldatsd balance sheet Notes to th6 financial ststements
BEDFORD SPORTS FOUNDATION Company Infonnation For the year ended 31st August 2024 Incorporated: In England on 13tt) January 1993 Regi6tratlon Numbor: 02779201 Charity Number- 1052843 Prlnclpal Address: clo Bedford Sports & Hockey Centre Chester Road Bedford Bedfordshire MK40 4HL Trusteos: Mr M B M¢Nulty Mrs A Brookes Mr M C Riley S•crètary: Mrs A Brookes Reglstered Office: First Floor, Woburn Court 2 Railton Road Woburn Road Industrial Estatè Kempston Bedfordshire MK42 7PN Bankers: HSBC PLG Allhallows Bedfordshire Solicitor8: Pictons 30- 32 Bromham Road Bedford Bedfordshire MK40 2QD
BEDFORD SPORTS FOUNDATION Trustee8' Annual Report for the year ended 31st August 2024 Tha Trustees pr8sent their report and the financial ststem8nts of the charlty for the year ended 31st August 2024. The trustee$ have adopted th8 provisions of the Stalement of Recommended Practic8 ISORP) 'Accounting and Reporting by Charities" {FRS 102) in preparing the annual r8port and finanGial statements of the charity. These financial statements have been prepared in accordan Mth thè Financial Reporting Standard 102 "The Financial Rgporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial staternents have been prepared under the historical cost Gonvention. Trustees of the ¢harity The Trustees (who are also direclors of Bedford Sports Foundation for the purpose of company lawl during the period under ramew were as follows.. Mr M B McNulty Mrs A Brook6s Mr M Riley As the company is limited by guarantee, no Trust885 have any direct interests in th8 ownership of the company. Where the Trustee is a preSentatiVe of a member. this is detail above. No Trustees r8ceived any remuneration for their services during the period or were reimbursed fDr expenses. obJe[Vo5 and a¢ttvllle$ The main obj'ects of the Charity are to benefft the public by promoting sport and recreatlonal actiwties., to organise or provide assistance to enable those in educational establishments in the United lfjngdom to play hockey and other games and sports- and to provide facilitiés for recreation and leisure for thé benefit of thè gènéral public and others who have by reason of th8ir age, youth, infimity or disablement, poverty or social and economic circumstsnces, the need for such facilities. Publlc bènèflt statemont Our main activltlès are described above. All our charitable focus Is on promoting sport and recr8ational a¢tiviti8s to further our chafitable purpose 13 for the public benefit. The Trustees have had due regard for the Charity Commission's guidance on the public benefit of the Charity's activities. Achiovements and perfomlanee The Centre continues to operate at an almost full capacity during evenings and weekends - wilh just Friday haviThJ some availability- always difficult to fill with weekend fixtures. Naw kltch6n axtractor fan has been instsll8d to compty wth food standard agency regulations All support from the Trustees and voluntsers is stable. with no foreseen changes to the group ~ being sufficient to maintain service. Plans continue to develop and resurface and upgrade lighting to both pitches in the Spring of 2025 Flnancial review We continue to operats wth one fijll time employee and kn part time employees. We remain with good cash reserves with no borrowings. 1 Revenu8 and Charity Commission reporting is maintained properly and tim8ly- and the Trustees are reassurgj of the viability and sustainability of operation as a hetriY going concern. Plan8 for futuro perlods We are developing the pitch relaying plan. and have worked closely Vth the Schools Campus and frèeholder (Bedford Borough Counctl) to deliver a sustainable Gentre of first-dass sports and communty use provtsion for the longer ten= A new lease is being negotiated- with r8written Heads of Tems being discuss8d presently to more adequately reflect operation$: An ext&nded cage footprint and MUGA playing surfac8 to benefit School use and tsrgetsd enclosed training zones..
BEDFORD SPORTS FOUNDATION Trustees, Annual Report for the year ended 31st August 2024 Environmental improvements- includlng LED floodlighting (with Consequent reduced light pollution), possible heat recov8ry measures and Improvements to support environmentsl sustalnability-. Support to Community groups to deliver a thriving resource hub for the local and wider Borough requireménts.. Structure, governanco and management The company is limited by guarantee, incorporated on 13th January 1993. The Charity is governed by Its Memorandum and Article$ of Association and obtsined charltable status on 9th February 1996. The Charity is authorised to: Purchase or acquire such propety as may be nerssary to cary out Sts oblectives. Borrow or raise money In such a manner and on such security as will fijrther its objects. Invest and daal with the Charity's monies in a manner, which furthers its objects. Th8 B8dford Sports Foundation aims to comply with "Good Govèman A Code for the Voluntary and Community S8ctort published on behalf of the National Hub of Expertisé in Govemance In June 2005, and adequate control measures and reviews are operational to regulady r8vr8w this. The future of the centr8 continue$ to develop In new initiatives and the trustees anticipate the nexl few years to be both challenging and exciting in direction - though good Management and Governancé has ensured the busin8ss plan gnd operations remain viable and sustainable. Trustees are appolnted and inductad in accordance wth guidance in °Good Gov8mance- A Code for the Voluntary and Community Sectorf. The Charity is governed by th8 Trustsés and a Council of Management. Executiv6 management is carried out by an Executive Committee, which meets quarterly. The members of these committees a detailed below. Matthew Riley (Chairl Stephen Cav6 (C8nlre Manager) Brendan McNulty David Faro¢)qui Statement of Tru8tee8' rosponsibilitles The trustees, who are directors of Bédford Sports Foundation, are sponsible for preparing the Trust88S' Annual Report and the financial ststements in accordance with applicable law and United Kingdom A¢¢ounting Standards (United Kingdom Gèn8rally Accepted Accounting practi). Company law requires the trustees to prapare financial statements for each financial year. which give a true and fair Mew of the state of affairs of the charltablè company and of the Incoming resourc89 and application of resources, including the in¢ome and 8xpenditure, of the charltable company for that period. In preparing th8se financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistèntly. Observe the methods and prin¢iples in the Charities SORP 2015 (FRS 102),. make judgements and estimates that are reasonablé and prudent. stats wheth8r applicable UK Accounting Standards have been followed, subjèct to any material departures disclosed and explained In the financial ststsments,. and prepare the financial statements on the golng ¢on¢em basis unless it is inappropriats to presume that the charitsble company will continue in operation. The rèport has been prepared hawng taken advantage of the small comp8nies' exemption in the Companies Act 2006. Mr M Riley, Trusteè On behalf of Bedford Sports Foundation -i- Dat&
BEDFORD SPORTS FOUNDATION Independent Examlner's report to the Trustees of Bedford Sports Foundation for the year ended 31st August 2024 I report on the accounts of th8 charity for th8 P8rit)J ended 31. August 2024, whlch are set out on pages 5t013. Rgspoctive responslbilltles of tNstses and examiner 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 aGcordan¢e wth the requirements of the Companies Act 2006 (the 2006 ACV). Hamng satisfied myself that the accounts of the company are not qUired to 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 Acv). In carrying out my examination I have followed th8 Directions given by the Charity Commission under section 145(5)(bl of the 2011 ACL Indopandont 0xamine$ statement I have completed my examination. I confim that no matters have come to my attention in connection Vth th8 8xaminats.on giving me cause to believe that in any material respert accounting records were not kept in résp8Ct of the company as required by section 386 of the 2006 Artor the 8¢¢ounts do not accord Vth thos8 records.. or the accounts do not comply with the a¢UntIng requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which 1$ not a matter considered as part of an indepeNlent examination. or the accounls have not been prepared in accordance th the methods and principles of the Statement of Recommended Practlc6 for accounting and pOrting by charities applicable to charities preparing their accounts in accordance with the Financlal Reportlng Standard applicable in the UK and Republic of Irèland {FRS 1021. 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 bè reached. Alb8rt0 Di Lorenzo FCA HW Bedford Limited Wobum Court 2 Railton Road Woburn Road Industrial Estate K8mpston Beds MK42 7PN Dats.....................................................
BEDFORD SPORTS FOUNDATION Consolidated Statement of Financial Actlvltles for the year ended 31st August 2024 UnMstri¢ted RrIcted Funds Funds Totsl 2024 Total 2023 Nots8 Incomlng Rasourc08 Ineomiryq resour9 from generated funds.. Charitable activities Donations and gift5 Activities for generating fund5: Trading aCtitIeS 23,562 23,562 10,535 127,534 127,534 133.729 Total In¢oming resources 151,096 151,096 144,264 Re80urce8 exponded Charitsble activities 43,877 13,791 57,668 51,818 Other eXndItUre 86.044 90,748 Total expenditure 129.921 13,791 143.712 142,566 Net In¢omel{expenditure} befor8 transfers 21,175 (13,7911 7,384 1,698 Transfers between funds (11,350) 11,350 Net Incomel{oxpenditure) 9.825 <2,441) 7,384 1,698 Fund balances brought tOard at 1st September 2023 118.514 63,282 181.796 180,098 Fund balances Carried forward at 315t August 2024 128,339 60,841 189,180 181.796 All income and expenditure derive from continuing activlties.
BEDFORD SPORTS FOUNDATION Company registratlon number: 02779201 Consolidated and Charity Balance Sheets as at 31st August 2024 Group Group 2024 2023 Charlty 2024 Charity 2023 Notes Fixed assets Tangible ass8ts Investments 60,970 63,468 60,841 40,002 63,282 40,002 60,970 63,468 100,843 103,284 Current as8ets Stocks Debtors: amounts falling due within on8 year Cash at bank and in hand 1,407 4,623 131,328 1,494 4,710 120.319 10 4.023 98.085 37,913 43,748 137.358 126,523 102,108 81,661 Cr•dltors: amounts falllng due within ono year 11 (9,513) {8,561) 114,190) 13,728) Net currant as80ts1lliabllltle$) 127,845 117,962 87,918 77,933 Total as8¢ts le88 currant Ilabllltl08 188,815 181,430 188,761 181,217 Net assets 188.815 181,430 188,761 181,217 Funds: Unre8tri¢ted funds General funds 127,699 118,148 127,920 117,935 127,974 118,148 127.920 117.935 Re8tr1ctod funds 60,841 63,282 60,841 63,282 Total funds 13 188,815 181,430 188,761 181,217 For the year ending 31 st August 2024, the company was entitl8d to exemption from audit under section 477 of the Compani8s Act 2006 relallng to small companiés. No member8 have requiréd the company to obtaln an audit of its accounts for the y8ar in question in accordance with section 476 ofthe Companies Act 2006. The directors adfnowfedge their r8sFonsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts. The financial ststements have been prepared in accordance with the Financlal Reporting Slandard 102 °The Reporting Standard appllcable in the UK and Republic of Ireland" and in accordanc& wSth the special provisions of Part 15 of the Companies Act 2006 relating to small companies regime, and wére approved by the Board of Trustees on Mr M Riley, Trustee Date
BEDFORD SPORTS FOUNDATION Notes forniing part of the flnancial statements for the year ended 31st August 2024 A¢¢ounting pollclos la) General Infonnatlon and ba818 of prèparatlon Bedford Sports Foundation is a private company limited by guarant88 in England & Wales. In the evenl of the charity being wound up, th8 liability in respect of the guaran188 is limited lo £1 per member of the charity. The address of the regist8red office is given in the charity information on page 1 of these financial ststements. The naluré of the charty's operatlons and principal aotivi118s ar8 the hir8 of sports facilities to local clubs, indlviduals and schools. The charity constitutes a public benefit entity as defined by FRS 102. The financi81 stat8m8nts have beèn prepared undèr the historical ¢ost convention and in accordance with the Financial Reporting Standard 102 'The Reporting Standard appliGable in the UK and Republic of Ireland and the Charity SORP {FRS1021. The statement of flnancial activities ISOFAI and balance sheet consolidate the financial statements of the charity and ils subsidlary undertaking. The results of the subsldiary are consolidated on a line by line basis. The charity has availad itself of Paragraph 4(1) of Schedule 1 of thè Small Companies and Groups (Accounts and Directors, Report) Regulations 2008 and adapted the Companles Act fomals to reflect thè special natur8 of the charity's activitles. No separat6 SOFA has bè8ri presented for the charity alon8 as P8mltted by Section 408 of th8 Companies Act 2006. The signlficant accounting policres applied in the prèparation of these financial statements are set out below. These policies hava bgen consistently applied to all years presented unless othewse slated. The financial statements ara presented in sterfing which is the fun¢tional currency of the company and rounded to Ihe nearest £. (bl Fund accounting General funds are unr8Stri¢ted funds which are available for us8 8t the discretion of the trustees in ftirtherance of the gen8ral objectives of the charty and which have not bean designated for other purposes. Designated fund8 comprlse unrestricted funds that have been set aside by the trustees frjr particular purposes. The aim and us6 of each designated fund is set out in the notes to th8 financial statements. Reslricled funds ar8 funds whlch are to be used in accordance wth speciffc restriction8 imposed by donors or which have béen 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 restrictsd fund is set out in the notes to the financial statéments. {0) Incoming re8ourees All incoming r8source8 are included in the SOFA when the charity is lagally entitled to the incom6 and the amount can be qu8nliffed with r8asonable accura¢y. For legacies, entitl8m8nl is the eadler of the charrty being noUffed of an imp8nding distribution or the legacy being received. Gifts in kind donaled for distribution are included at valualon and recognised as income when they a distributed to the projects. Gifts donated for résale are included as incom8 when th8y ar8 sold. Donabj facilitiés ar8 included at the value to the charity whère this can be quantified and a third paty is bearing the cost. No amounts ar8 Included in th& ffnan¢ial statsments for servlce$ donated by volunteers.
BEDFORD SPORTS FOUNDATION Notes fomilng part of the financlal statements for the year ended 31st August 2024 (dl Re8oureès expended All expenditure 15 accounted for on an accruals basis and has been classified under headings that aggregate all rosts related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Premises overheads have been allocated on a floor area basis and other overheads have been allocated on the basis of the head count Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activibes. Support costs are those costs incurred directly in support of expenLliture on the objects of the charity and include project management carried out at Headquarters. Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Ra8erve8 poII¢y le) It 18 the aim of the Trusteès to maintain unrestricted r8serves sufflclanl to cover six months 0rhead expgnditur8. (o Investment pollcy The investment policy is lo onty hold low risk investments. in order to saf8guard the Charity's funds. (g} Tangible flxed a8$8ts and depraclaon Tangible fixed assets are slated at cost Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost over their expected useful economic lives as follows.. Astroturf Pitches Pavilion Building Propety Improvements Fixtures & Fittings Office Equipment straight line lend of usefiJl life Aug 2022) straight line lend of lease Aug 20321 20 /0 reducing balance 20 - 25 /0 reducing balance 25Yo reducing balance {h) Investments Investrnents are slated at market value at the bglance she8t date. Sto¢k stock5 are staled at the lower of c05t and estimatèd selling prfce less costs to complete and sell. Cost includ85 all costs of purchase, costs of conversion and other costs InCUrd in bringing stock to its present Iation and condition. Cost 1$ calculated using the first4n, first-out fomula. Provision is made for damaged, obsol8t8 and slow-movlng stock wh&re appropriat8.
BEDFORD SPORTS FOUNDATION Notes formlng part of the financlal statements for the year ended 31st August 2024 Donation8 and 91ft8 2024 2023 Indivlduals Gift aid incomg other income 10,993 8,129 4,440 10,535 23,562 10,535 Tradlng actlvitles 2024 2023 Pitch hire Room hire Bar and food sal88 76,728 11,471 39,335 79,950 10,459 43,320 127,534 133,729 Total resource$ expendèd 2024 2023 Expendlturo on charitable activlties Wages and support costs Governance costs Otherexpenditure 38,919 3,855 98,552 39,271 4,743 98,552 Total resources expended 143,712 142,566 Othef di costs include.. 2024 2023 Governan costs (including 8xpenses and benefits in kindl.. Governance costs Depreciation- on owned asséts 3,855 13,848 4.743 13.365 Total other direct C051s 17,703 18.108
BEDFORD SPORTS FOUNDATION Notes formlng part of the financlal statements for the year ended 31st August 2024 S Employees, & Tru8t•os' remuneration The average number of employe8s was 4 (2023.. 51. No ployee reIved emoluments of more than £60,000. No remuneration or benefits in kind were paid to any trustee during the year. Staff costs 2024 2023 Wages and salaries Social security costs Pension costs 34,614 3,239 1,065 34,866 3,408 997 38.919 39,271 Tangible fixed assets (Groupl Astroturf And Cricket pitches Plant, Fixturas & Fittings Pavillon Property Building Improvement8 Total Cost At 1 Septemb8r 2023 Additions 330,549 104,434 108,976 3,500 43,529 7,850 587.488 11.350 At 31 August 2024 330,549 104,434 112.476 51,379 598,838 Dopretlation At 1 September 2023 Charge for year 330.549 102.794 181 54.070 11.681 36.607 1.986 524,020 13.848 At 31 August 2024 330,549 102,975 65,751 38,593 537,868 Net Ix)ok value At 31 August 2024 1,459 46,725 12,786 60,970 At 31 August 2023 1,640 54,906 6.922 63,468 io
BEDFORD SPORTS FOUNDATION Notes forming part of the financlal statements for the year ended 31st August 2024 Tanglble flxed assets (Charlty) Astroturf And Crfcket pitches PlanL Fixtures & Fittlngs Pavllion Property Building Improvements Totsl C03t At 1 September 2023 Additions 330,549 104,434 108,976 3,500 27,591 7,850 571,550 11,350 At 31 August 2024 330,549 104.434 112,476 35,441 582,WO Depreclatlon At 1 Septemb6r 2023 Charge for year 330,549 102.794 181 54,070 11,681 20,855 1,929 508.268 13,791 At 31 August 2024 330.549 102.975 65,751 22,784 522,059 Not book value At 31 August 2024 1,459 46.725 12,657 60,841 At 31 August 2023 1,640 54,906 8,736 63.282 Flxed asset inve8tments Investments In Trading Subsidiary Loan to Subsidiary Charlty Cost as at 1st September 2023 40,QQQ Cost as at 31st August 2024 40,000 The loan to thè subsidiary undertaking is repayable Sn fijll on 314¢ December 2032. Interest is charged on the loan at 5Vts per annum. Subsidiary undértaking: Sport for Bedford Limited Company registration number.. 02816600 {In¢orporated in England & Wales) Ordinary share$ held.. 100Yo
BEDFORD SPORTS FOUNDATION Notes fornilng part of the flnancial statements for the year ended 31st August 2024 10 Debtorn: amounts falling due wlthln one year Group 2024 Group 2023 Charlty 2024 Charlty 2023 Trade debtors VAT Prepayments and other accr1 income Owed by group companies 110 1.431 3,082 330 1,340 3,040 1.421 2,602 1.340 2.575 33,998 4,623 4.710 4.023 37.913 11 Credltors: amounts falllng due wlthln one year Group 2024 Group 2023 Charlty 2024 Charfty 2023 Trade creditors Taxation and social security costs VAT Other creditors Owed lo group companies Accruals and deferd income 4,631 3.935 1,159 394 473 1.211 2.428 741 302 11.429 1.550 3,839 2.600 1,300 9,513 8,561 14.190 3.728 12 Securlty A ¢harge cr8at8d 26 October 2007 was r8gistsred on a piece of land adJacent to Westfield Middle School together with thè pavilion 8rected thereon by Bedford Borough Council. 13 Slatsrnent of funds Funds At 1 Septernr 2023 Funds transfer At 31 August 2024 Income Expenditure General reserve 118,514 {11,350) 151,096 {129,9211 128,339 Total unrestricted fiJnds 118,514 (11,350) 151,096 (129,921) 128,339 Restricted funds.. Pitches Pavilion Improvements to centre 1,640 61,642 (181) (13,610} 1.459 59.382 11,350 Total restricted fiJnds 63,282 11,350 (13,791) 60,841 Total funds 181.796 151.096 {143,712) 189,180 The General reserve represents the free funds of the charity whiGh are not dosignated for particular purposes. The Pitches and Pawlion fund has been set up to fijnd the costs of improvement work at the centre. which have been capitalised and are being depreciated over their expected usafvl life. The Improvement$ to the centre fund VRS set up lo fund the study centre improvements which have been apitalised and are being depr8ciated over their expe¢tsd us8ful life. 12
BEDFORD SPORTS FOUNDATION Notes formlng part of the financial statements for the year ended 31st August 2024 14 Analy¥i8 of group net a8sets between funds Restricted funds General funds Total Fund balancos at 31 August 2024 are represented by". Tangible fixed a8set5 Current assets Current liabilities 60,841 129 137,358 (9,513) 60,970 137,358 19,513} Total nol a8s0ts 60,841 127,974 188,815 13