2024-06-30-accounts - Buckhurst Hill FC Foundation

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Charity Registration No. 1070202 Company Registration No. 03523004 (England & Wales)

Limited By Guarantee

BUCKHURST HILL FC FOUNDATION

Trustees' Report And Accounts For The Year Ended 30 June 2024

AMENDED

BUCKHURST HILL FC FOUNDATION Legal And Administrative Information

Trustees	S.P. Cornwell
	K.V. Richbell
	J.L. Rooney
	C.R. Sherrin
Secretary	S.P. Cornwell
Charity Number	1070202
Company Number	03523004
Registered Office	7 Johnston Road,
	Woodford Green,
	Essex,
	IG8 0XA
Accountant	Nicholas Hall Accounting Limited
	7, Johnston Road,
	Woodford Green,
	Essex,
	IG8 0XA
Bankers	National Westminster Bank Plc.,
	250 Bishopsgate,
	London,
	EC2M 4AA

BUCKHURST HILL FC FOUNDATION Contents

	Page
Trustees' Report	1 - 2
Statement Of Trustees' Responsibilities	3
Independent Examiner’s Report	4
Statement Of Financial Activities	5
Balance Sheet	6 - 7
Notes To The Accounts	8 - 11
Schedule Of Expenses	12

BUCKHURST HILL FC FOUNDATION

Trustees' Report

For The Year Ended 30 June 2024

The Trustees present their report and accounts for the year ended 30 June 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum & Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Structure, Governance And Management

The Foundation is a company limited by guarantee, governed by its Memorandum & Articles of Association. The Trustees, who are also the directors for the purpose of company law, and who served during the year were:

S.P. Cornwell K.V. Richbell J.L. Rooney C.R. Sherrin

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

Objectives And Activities

The Foundation continues to support it's key objective of supporting all our youth teams with increased participation across all age groups and delivered in a safe and secure inclusive environment

The pathway to our senior’s teams plays a crucial part of our future which starts at the beginning of their football journey.

We continue our engagement with the wider community which is a focus area which has seen us hold events on behalf of Buckhurst Hill Parish Council, which have been positively received and will continue.

Funding plays an integral part of our progressive plans which is a challenge with not just the UK but global economies, but we continue to work hard in promoting our brand across all our social media platforms to attract new sponsorships, and working closely with the Essex FA to identify funding lines that are available.

Achievements And Performance

With the effects of the pandemic and investment made in improving our facilities, coupled with significant increases in the day to day running costs of the club, and volunteers reducing across grass roots football and society as a whole, we have had to be extremely prudent with our expenditure.

From a footballing perspective this year has been one of our most successful with many trophies having pride of place in our trophy cabinet.

Various league champions, County Cups, across many age groups boys and girls alongside over a dozen of our own home grown players moving on to professional clubs which is the ultimate goal and the ethos of the club.

BUCKHURST HILL FC FOUNDATION Tnjstees, Report (CONTINUED) For The Year Ended 30 June 2024 Financial R•vi•w The resulls Ihe yo¥ under review afe detailed the Stalement of Finanaal Aclivitses aTrY the rt)tes attathed thereto. For this year, the Fourldalion reckived Inc lotsllirKJ £305,17212023'. £268,897). These sums will go towards the managnent and admirmstrative costs of runnmg the Foundat. The funds of FouThJ8lion are deFwJsited in a bank apFffjhYd by tha TnJ5tees, whth at Ihe time of the rewt was Natnal W8Stminst8r Bank Plc. During the perh)d, there was a net irttease in the genera lund of £57.658 (2023.. £64.705) and there We no frK)vemenls in the restricted fund fof bolh the year erthd 30 June 2023. For the year ended 30 Jur 2024. the trIC[ed funds Wnce was transfwred io n1n¢ted funds Isee note 10). The principal funding sources for the clty are Jenty by way of player subscripti and SUFPOrt ol (yjlside organisaiions to help supFort our develOWnI Fdans. Other trading a¢ts"wlies untsrtaken to ratse fvnds indude opera"i¥J'. A shop selllng merchaThJise A lea bar selling non-alcoholic drinks afKI snacks A bar selling al011¢ dnnks A kiosk selling hol ft>)J See Mle 11 for a Ixeakdown of profits for each of tr*se activtlies. Revlew of the Y•ar and Plans for th• FUr• This has been a potIVe year for the fcyJndali. and the Trustees and Management o)mmrttee slM)Jld be proud of their athievements, so thank y. No one unless you are Involved have any Idea the sacrifk& that 8rÈ made, ttys lrtlthjes 811 our m8nag8rs and CA)aches thal work tirelessly throughout the week, not jUSt matchdays. Our plans ts the futyfe are clear. The OprtUnIty to have ow FIcKMJlil 4g facilty for all (wr teams and Surrnd schools. extensK)n ol dubhouse and introduce B-Tec educalional programs on srte all our players and beycrf. whith will enab us to have additional revenue sources without the reIlence of Sp90r$Ip and limrted lundmg opp)rtUn.8S lo socuf• the lor¥J iemi lulura and legacy for our ftrture generations. The pL9nnirKJ appcationS for the new site aongsth a new Sai School be game changing for all. Indepond•nt Examlmrs A resolution Pro91n9 that Nicholas Hall be app)inled as IndeperKlenl Examinors of the cfynpany will be pui to the members. On behall of tho Ixbard of Trustees S.P. Corrnvell Trustee K.V. Rithbell Trust••

BUCKHURST HILL FC FOUNDATION Statement Of Trustees' Responsibilities

The Trustees, who are also the directors of Buckhurst Hill FC Foundation for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare accounts 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, including the income and expenditure, of the charitable company for that period.

In preparing these accounts, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and estimates that are reasonable and prudent; and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. 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.

BUCKHURST HILL FC FOUNDATION Independent Examinerfs Report To The Trustees Of Buckhurst Hill FC Foundation I have examined the accounts of Buckhurst Hill FC Foundation for the year ended 30 June 2024 set out on pages 6 to 13. These accounts have been prepared in accordance with the accounting policies set out on page 9. Rospecllve responslbllltles of trustees and examiner The trustees (who are also the directors of the company for the purposes of company lawl are responsible for the pparatIOn of the accounts. The trustees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having salisffied myself that the Charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility lo.. examine the accounts under section 145 of the 2011 Act., lo follow Ihe procedures laKI down in the general Directions given by the Charity Commission under section 14515llbl of the 2011 Act., and lo stale whether particular matters have come to my attention. Ba$18 of Independont examlnerfs rnport My examination was carried out in accordance with the general Oirections given by the Charity Commission. An examination indudes a review of the accounting records kept by Ihe ¢harily and a comparison of the accounts presented with those recordg. It also includes consideration of any unusual ilems or disclosures in the accounts, and seeking explanations from you as trusteès conceming any such matters. The procedurès undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as lo whether the accounts present a 'true and fair view, and the report is limrted to those matters set out in the statement below. Independent exam1n08 8tatsment In connection with my examination, no matter has come to my attention.. 111 which gives me reasonable cause to believe that in any material respect the r8quir8ments'. to keep accounting e0rd8 in accordance with section 386 of the Companies Act 2006., and to prepare accounts which accord with the accounting re¢ords. comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Ststement of Recommended Pradice.. Accounting and Reporting by Charities have not been met: or 121 to which, in my opinion, attention should be drawn in order lo enable a proper understanding of the accounls to be reached. Z.L. Jima-olero FMAAT For Nicholas Hall Accounting Limiled 7 Johnston Road, Woodford Green, Essex, IG8 OXA. Dale:

BUCKHURST HILL FC FOUNDATION

Statement Of Financial Activities

Including Income And Expenditure Account

For The Year Ended 30 June 2024

Note Income Voluntary Donations 2 Investment Income 3 Player Subscriptions Other Income 4 Total Income Expenditure Transfers 9 Business Combination Net Income / (Expenditure) For The Year Fund Balances At 1 July 2023 Fund Balances At 30 June 2024	Unrestricted Funds £ 235 305 158,892 145,740 305,172 (247,513) 354,376 412,034 206,020 618,054	Restricted Funds £ - - (354,376) (354,376) 354,376 -	Total 2024 £ 235 305 158,892 145,740 305,172 (247,513) - 57,658 560,396 618,054	Total 2023 £ 1,110 - 138,769 129,018
				268,897
				(376,525) 172,333
				64,705
				495,691
				560,396

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

BUCKHURST HILL FC FOUNDATION Balance Sheet

As At 30 June 2024

Notes Fixed assets Tangible Assets 5 Current assets Stocks Debtors 6 Cash At Bank And In Hand Creditors: amounts falling due within one year 7 Net current assets/(liabilities) Creditors: amounts falling due after one year 8 Total assets less liabilities Income Funds Restricted Funds 9 Unrestricted Funds 10	£ £ 596,278 10,000 30,608 23,652 64,259 (42,484) 21,776 618,054 - 618,054 - 618,054 618,054 - 2024	£ £ 632,700 580 20,414 4,539 25,533 (96,837) (71,304) 561,396 (1,000) 560,396 354,376 206,020 560,396 2023	£ £ 632,700 580 20,414 4,539 25,533 (96,837) (71,304) 561,396 (1,000) 560,396 354,376 206,020 560,396 2023
			561,396 (1,000)
			560,396
			354,376 206,020
			560,396

BUCKHURST HILL FC FOUNDATION Balance Sheel (CONTINUED) As At 30 June 2024 The (x)mpany is enlitled to the exemption from the art requirement contained in seclK)n 477 of the Cc#npanies Act 21x6. for the year ended 30 June 2024. No mèmber of the company has deFlted a noiic8. pursuant to seCtn 476, requiring an audrt of these accounts under the requwernents of the C(Mnpanies Acl 2006. The diredors acknowledge their resp)nsitsliknes for ensurirKJ that the company keeps accounting records comply with section 386 of the Act and for preparing accounts which give a true and fair view of the slate of affairs of the company as al end of the finanual year and of its incoming resources and application of resources. including its income and expendilure, for the finanrAal year in accordance wrlh Ihe requirements of sections 394 and 395 and which other4vise o)mpty with the requirements of C(xnpanies Act 2006 relating to accounts. so far as applicable to the company. The accounts were approved by the Board on 0710412026 S.P. Comwell Trustoe K.V. r11 Trustoe Company Roglstratlon No. 03523004

BUCKHURST HILL FC FOUNDATION Notes To The Financial Statements

For The Year Ended 30 June 2024

1 Accounting Policies

1.1 Basis Of Preparation

The accounts have been prepared under the historical cost convention.

The charity has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a small charity.

The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and the Companies Act 2006.

1.2 Incoming Resources

All incoming resources are recognised when the charity is legally entitled to the income and the amount can be quantified with reasonable certainty.

1.3 Resources Expended

All expenditure is accounted for on an accruals basis. Certain expenditure is directly attributable to specific activities and has been allocated to those cost categories. The charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT.

Charitable expenditure includes all expenditure incurred in the pursuance of the charity's objectives.

Governance costs include those associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity.

1.4 Tangible Fixed Assets And Depreciation Freehold land is not depreciated.

Freehold buildings are depreciated to write down the cost less estimated residual value over their remaining useful life by equal annual installments. Where buildings are maintained to such a standard that their residual value is not less than their cost or valuation, no depreciation is charged as it is not significant. Permanent diminutions in the value of freehold buildings are charged to the profit and loss account.

1.5 Accumulated Funds

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.

1.6 Company Status

Buckhurst Hill FC Foundation is a company Limited by Guarantee and has no share capital. 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.

BUCKHURST HILL FC FOUNDATION

Notes To The Financial Statements (CONTINUED)

For The Year Ended 30 June 2024

2 Voluntary Donations Fundraising Voluntary Donations Income 3 Investment Income Interest Receivable 4 Other Income Shop Items Bar sales Tea Bar Kiosk Sales Grants and Bursaries Clubhouse Hire Club Sponsorship Matchday Income Mini soccer fees Match Winnings Raffle Takings Ground & Clubhouse Rental Fees Other Income Tournament Girls Training Fees	Unrestricted Funds £ - 235 235	Restricted Funds £ - - -	Total 2024 £ - 235 235 2024 £ 305 2024 £ 407 14,881 27,807 5,356 12,535 14,350 21,921 336 8,404 - - 24,000 36 9,062 6,645 145,740	Total 2023 £ 413 697
				1,110
				2023 £ -
				2023 £ 464 18,502 24,357 6,140 22,454 7,813 15,285 17,433 11,451 4,144 350 360 266 -
				129,018

Notes To The Financial Statements (CONTINUED)

BUCKHURST HILL FC FOUNDATION

For The Year Ended 30 June 2024

5 Tangible fixed assets

Freehold Land £ 134,972 - 134,972	Plant, Machinery & Equipment £ 179,494 - 179,494	Computer Equipment £ 1,584 - 1,584	Total £ 698,839 - 698,839
- - -	65,163 35,899 101,062	976 523 1,499	66,140 36,422 102,561
134,972	78,432	85	596,278
134,972	114,331	608	632,700

6 Debtors: amounts falling due within one year

Trade Debtors Accrued Income Prepayments Other Debtors 7 Creditors: amounts falling due within one year Bank Loans And Overdrafts Trade Creditors Accruals Deferred Income Other Creditors 8 Creditors: amounts falling due after one year Bank Loans And Overdrafts Deferred Income	2024 £ 4,677 2,142 1,746 22,042	2023 £ 3,365 27 17,023 -
	30,608	20,414
	2024 £ - 26,736 88 5,470 10,190	2023 £ 2,345 60,362 - 12,423 21,708
	42,484	96,837
	2024 £ - -	2023 £ - 1,000
	-	1,000

10 -

BUCKHURST HILL FC FOUNDATION

Notes To The Financial Statements (CONTINUED)

For The Year Ended 30 June 2024

9 Restricted Funds Account

Funds brought forward & carried forward

2024	2023
£	£
0	354,376

During the year, the restricted funds balance of £354,376 that related to funds received and restricted between 2001 and 2008, which subsequently were used for their intended purposes, has now been recognised as unrestricted funds.

10 Analysis Of Net Assets Between Funds Fund Balances At 30 June 2024 Are Represented By: Tangible Fixed Assets Current Assets Creditors: amounts falling due within one year Creditors: amounts falling due after one year	Unrestricted Funds £ 596,278 64,259 (42,484) - 618,054	Restricted Funds £ - - - - -	Total £ 596,278 64,259 (42,484) -
			618,054
			-

11 Trading Activities

The profits/(losses) for various trading activities in the year are as follows:

Income Opening Stock Expenditure Closing Stock Total Expenditure Profit/(Loss)	Shop £ 407 5 53 (84) (25) 432	Bar £ 14,881 217 7,808 (3,071) 4,953 9,927	Tea Bar £ 27,807 286 15,520 (5,739) 10,066 17,741	Kiosk £ 5,356 72 4,435 (1,105) 3,401 1,955	Total £ 48,451 580 27,815 (10,000)
					18,395
					30,056

11 -

BUCKHURST HILL FC FOUNDATION Schedule Of Expenses

For The Year Ended 30 June 2024

2024 £ 580 53 7,808 15,520 4,435 (10,000) 18,395 33,268 11,524 3,750 4,420 13,657 35,623 449 11,765 5,987 4,616 - - - 2,066 878 4,763 761 1,014 3,473 400 8,864 4,745 565 60 - 2,979 3,738 1,071 24,982 36,422 221,842 6,441 62 403 466 370 247,513	2023 £ - 88 5,864 10,779 2,892 (580) 19,042 75,657 19,874 5,000 12,202 29,200 43,038 1,823 15,180 4,778 15,575 2,211 3,645 12,716 - - - 4,415 1,082 3,231 693 12,056 3,580 3,089 430 3,336 8,117 1,935 820 29,421 34,931 348,033 8,796 336 218 554 100 376,525	2023 £ - 88 5,864 10,779 2,892 (580) 19,042 75,657 19,874 5,000 12,202 29,200 43,038 1,823 15,180 4,778 15,575 2,211 3,645 12,716 - - - 4,415 1,082 3,231 693 12,056 3,580 3,089 430 3,336 8,117 1,935 820 29,421 34,931 348,033 8,796 336 218 554 100 376,525
33,268 11,524 3,750 4,420 13,657 35,623 449 11,765 5,987 4,616 - - - 2,066 878 4,763 761 1,014 3,473 400 8,864 4,745 565 60 - 2,979 3,738 1,071 24,982 36,422	75,657 19,874 5,000 12,202 29,200 43,038 1,823 15,180 4,778 15,575 2,211 3,645 12,716 - - - 4,415 1,082 3,231 693 12,056 3,580 3,089 430 3,336 8,117 1,935 820 29,421 34,931
62 403	336 218

		376,525

12 -