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. - 1 - 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 manag*nent 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 Nat￿nal 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 ￿n￿1n¢ted funds Isee note 10). The principal funding sources for the c￿lty are ￿J￿enty by way of player subscripti￿￿ and SUFPOrt ol (yjlside organisaiions to help supFort our develOW￿nI 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 al￿011¢ 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• FU￿r• This has been a po￿tIVe 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 Op￿rtUnIty to have ow FIcKMJlil 4g facilty for all (wr teams and Surr￿nd￿￿ 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 re￿Ilence of Sp￿90r$I￿p and limrted lundmg opp)rtUn￿.8S lo socuf• the lor¥J iemi lulura and legacy for our ftrture generations. The pL9nnirKJ app￿cationS for the new site aongsth a new Sai School be game changing for all. Indepond•nt Examlmrs A resolution Pro￿91n9 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. - 3 - 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 p￿paratIOn 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 exam1n0￿8 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. - 5 - ## 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| ||||| - 6 - BUCKHURST HILL FC FOUNDATION Balance Sheel (CONTINUED) As At 30 June 2024 The (x)mpany is enlitled to the exemption from the a￿rt 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 deF￿lted a noiic8. pursuant to seCt￿n 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. ￿r￿￿11 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. - 8 - ## 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| - 9 - Notes To The Financial Statements (CONTINUED) ## BUCKHURST HILL FC FOUNDATION For The Year Ended 30 June 2024 ## **5 Tangible fixed assets** |**Cost**
At 1 July 2023
Additions
At 30 June 2024
**Depreciation and impairment**
At 1 July 2023
Depreciation Charged In The Year
At 30 June 2024
**Carrying amount**
At 30 June 2024
At 30 June 2023|**Freehold**
**Land**
**£**
134,972
-
134,972|**Freehold**
**Improv-**
**ements**
**£**
382,789
-
382,789
-
-
-
382,789
382,789|**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 |**Cost of sales**
Opening stock
Shop items
Bar Receipts
Tea Bar receipts
Kiosk receipts
Closing Stock
**Charitable activities**
Ground Maintenance & Development
Pitch Hire
Pelly House Lease
Business Rates & Council Tax
Kit & Equipment
Ground & Clubhouse Management
Fines & Penalties
Referees Fees
League Fees
Coaching Fees
Physio Services
Kit Wash
Appearance Fees
Tournament
Girls training
Trophies
Printing, Postage & Stationery
Bank Charges
Insurance
Information Technology
Advertising & Media
Cleaning Costs
Miscellaneous
Legal & Professional Fees
Travel Expenses
Light and Heat
Health & Safety Consultancy
Telephone & Communications
Administrative Wages
Depreciation
**Governance Costs**
Accountancy
**Interest payable and similar expenses**
Mortgage Interest
Other interest payable
**Donations**
**Total Expenditure**|**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 -