CHARITY REGISTRATION NUMBER: 1086852
Shawbury United Junior Football Club Unaudited Financial Statements 31 July 2023
INDEPENDENT AUDITORS LLP
Chartered Accountants Emstrey House North Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG
Shawbury United Junior Football Club
Financial Statements
Year ended 31 July 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 14 |
Shawbury United Junior Football Club
Trustees' Annual Report
Year ended 31 July 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 July 2023.
Reference and administrative details
Registered charity name Shawbury United Junior Football Club Charity registration number 1086852 Principal office 104 Glebelands Shawbury Shropshire SY4 4LE The trustees Mrs T Howells Mr K Speake Mr D Richards Mr J Dale Mr P Moore
Accountants Independent Auditors LLP Chartered Accountants Emstrey House North Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG
Structure, governance and management
The charity was set up by and is governed by its constitution which was adopted on 20 May 1998 and amended on 6 December 2020.
The charity is managed by its Trustees and details of the Trustees are shown above. All Trustees are volunteers and comprise the committee, parents, managers and assistants.
Objectives and activities
The objectives of the charity are to advance the education of children between the ages of 5 and 18 years who reside in Shropshire by providing facilities and opportunities for playing football so as to promote and encourage their physical development.
Achievements and performance
The charity had nine teams plus the creche during the season and a membership of over 135 players.
The work began on the new ground at Carradine Road that will see all the teams play from one location and was a significant step forward for the club.
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Shawbury United Junior Football Club
Trustees' Annual Report (continued)
Year ended 31 July 2023
Financial review
The charity realised a surplus for the year of £24,931 compared to a deficit of £13,063 in respect of the previous period. Included within income are grants from Shawbury Parish Council and Shrewsbury Council towards the cost of the new ground. Included within expenditure was £56,853 of costs relating to the new ground.
The net assets of the charity at the balance sheet date increased to £70,150 from £45,219.
Trustees' responsibilities statement
The trustees are responsible for preparing the trustees' 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 and Wales requires the charity trustees to prepare financial statements for each 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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 applicable Charities (Accounts and Reports) Regulations, 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.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr J Dale Trustee
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Shawbury United Junior Football Club
Independent Examiner's Report to the Trustees of Shawbury United Junior Football Club
Year ended 31 July 2023
I report to the trustees on my examination of the financial statements of Shawbury United Junior Football Club ('the charity') for the year ended 31 July 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Ian Stewart FCA CTA Independent Examiner
Independent Auditors LLP Emstrey House North Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG
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Shawbury United Junior Football Club
Statement of Financial Activities
Year ended 31 July 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 95,365 | 95,365 | 24,702 |
| Charitable activities | 5 | 2,248 | 2,248 | 539 |
| Other trading activities | 6 | 866 | 866 | – |
| Investment income | 7 | 270 | 270 | 3 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 98,749 | 98,749 | 25,244 | |
| ============================ | ============================ | ============================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 8,9 | 73,818 | 73,818 | 38,307 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 73,818 | 73,818 | 38,307 | |
| ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net income/(expenditure) and net movement in funds | 24,931 | 24,931 | (13,063) | |
| ============================ | ============================ | ============================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 45,219 | 45,219 | 58,282 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total funds carried forward | 70,150 | 70,150 | 45,219 | |
| ============================ | ============================ | ============================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 12 form part of these financial statements.
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Shawbury United Junior Football Club
Statement of Financial Position
31 July 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 13 | 2,196 | 3,345 |
| Current assets | |||
| Debtors | 14 | 1,269 | – |
| Cash at bank and in hand | 82,939 | 51,595 | |
| ---------------------------- | ---------------------------- | ||
| 84,208 | 51,595 | ||
| Creditors: amounts falling due within one year | 15 | 16,254 | 9,721 |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 67,954 | 41,874 | |
| ---------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 70,150 | 45,219 | |
| ---------------------------- | ---------------------------- | ||
| Net assets | 70,150 | 45,219 | |
| ============================ | ============================ | ||
| Funds of the charity | |||
| Unrestricted funds | 70,150 | 45,219 | |
| ---------------------------- | ---------------------------- | ||
| Total charity funds | 16 | 70,150 ============================ |
45,219 ============================ |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mr J Dale Trustee
The notes on pages 6 to 12 form part of these financial statements.
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Shawbury United Junior Football Club
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 104 Glebelands, Shawbury, SY4 4LE.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Shawbury United Junior Football Club
Notes to the Financial Statements (continued)
Year ended 31 July 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Shawbury United Junior Football Club
Notes to the Financial Statements (continued)
Year ended 31 July 2023
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
- 25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
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Shawbury United Junior Football Club
Notes to the Financial Statements (continued)
Year ended 31 July 2023
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 750 | 750 | 1,698 | 1,698 |
| Gift aid | – | – | 2,428 | 2,428 |
| Grants | ||||
| Grants | 76,324 | 76,324 | – | – |
| Subscriptions | ||||
| Player membership subscriptions | 18,291 | 18,291 | 20,576 | 20,576 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 95,365 | 95,365 | 24,702 | 24,702 | |
| ============================ | ============================ | ============================ | ============================ |
5. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Presentation day | 2,248 | 2,248 | 539 | 539 |
| ======================= | ======================= | ============== | ============== |
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Shawbury United Junior Football Club
Notes to the Financial Statements (continued)
Year ended 31 July 2023
6. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Fundraising events | 866 | 866 | – | – |
| ============== | ============== | ============== | ============== | |
| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 270 | 270 | 3 | 3 |
| ============== | ============== | ============== | ============== | |
| Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Junior football | 15,121 | 15,121 | 27,964 | 27,964 |
| Support costs | 58,697 | 58,697 | 10,343 | 10,343 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 73,818 | 73,818 | 38,307 | 38,307 | |
| ============================ | ============================ | ============================ | ============================ |
7. Investment income
8. Expenditure on charitable activities by fund type
9. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Junior football | 15,121 | – | 15,121 | 27,964 |
| Governance costs | – | 58,697 | 58,697 | 10,343 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 15,121 | 58,697 | 73,818 | 38,307 | |
| ============================ | ============================ | ============================ | ============================ |
10. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation of tangible fixed assets
| 2023 | 2022 |
|---|---|
| £ | £ |
| 1,149 | 1,149 |
| ======================= | ======================= |
11. Staff costs
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
12. Trustee remuneration and expenses
No trustees received any remuneration or reimbursement of expenses in the period.
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Shawbury United Junior Football Club
Notes to the Financial Statements (continued)
Year ended 31 July 2023
13. Tangible fixed assets
| Plant and | |||
|---|---|---|---|
| machinery | |||
| £ | |||
| Cost | |||
| At 1 August 2022 and 31 July 2023 | 5,119 | ||
| ======================= | |||
| Depreciation | |||
| At 1 August 2022 | 1,774 | ||
| Charge for the year | 1,149 | ||
| ----------------------- | |||
| At 31 July 2023 | 2,923 | ||
| ======================= | |||
| Carrying amount | |||
| At 31 July 2023 | 2,196 | ||
| ======================= | |||
| At 31 July 2022 | 3,345 | ||
| ======================= | |||
| 14. | Debtors | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Prepayments and accrued income | 1,269 | – | |
| ======================= | ============== | ||
| 15. | Creditors: amounts falling due within one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals and deferred income | 16,254 | 9,721 | |
| ============================ | ======================= |
16. Analysis of charitable funds Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| 1 | August 202 | At | |||
| 2 | Income | Expenditure | 31 July 2023 | ||
| £ | £ | £ | £ | ||
| General funds | 45,219 | 98,749 | (73,818) | 70,150 |
|
| ============================ | ============================ | ============================ | ============================ | ||
| At | |||||
| 1 | August 202 | At | |||
| 1 | Income | Expenditure | 31 July 2022 | ||
| £ | £ | £ | £ | ||
| General funds | 58,282 | 25,244 | (38,307) | 45,219 |
|
| ============================ | ============================ | ============================ | ============================ |
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Shawbury United Junior Football Club
Notes to the Financial Statements (continued)
Year ended 31 July 2023
17. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Tangible fixed assets | 2,196 | 2,196 |
| Current assets | 84,208 | 84,208 |
| Creditors less than 1 year | (16,254) | (16,254) |
| ---------------------------- | ---------------------------- | |
| Net assets | 70,150 | 70,150 |
| ============================ | ============================ | |
| Unrestricted | Total Funds | |
| Funds | 2022 | |
| £ | £ | |
| Tangible fixed assets | 3,345 | 3,345 |
| Current assets | 51,595 | 51,595 |
| Creditors less than 1 year | (9,721) | (9,721) |
| ---------------------------- | ---------------------------- | |
| Net assets | 45,219 | 45,219 |
| ============================ | ============================ |
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Shawbury United Junior Football Club
Management Information
Year ended 31 July 2023
The following pages do not form part of the financial statements.
13
Shawbury United Junior Football Club
Detailed Statement of Financial Activities
Year ended 31 July 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 750 | 1,698 |
| Gift aid | – | 2,428 |
| Grants | 76,324 | – |
| Player membership subscriptions | 18,291 | 20,576 |
| ---------------------------- | ---------------------------- | |
| 95,365 | 24,702 | |
| ---------------------------- | ---------------------------- | |
| Charitable activities | ||
| Presentation day | 2,248 | 539 |
| ----------------------- | -------------- | |
| Other trading activities | ||
| Fundraising events | 866 | – |
| -------------- | -------------- | |
| Investment income | ||
| Bank interest receivable | 270 | 3 |
| -------------- | -------------- | |
| ---------------------------- | ---------------------------- | |
| Total income | 98,749 | 25,244 |
| ============================ | ============================ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Junior football | ||
| Activities undertaken directly | ||
| Hire of pitches and facilities | 5,072 | 11,021 |
| Referee fees and fines | 2,090 | 4,119 |
| FA registration and league fees | 973 | 3,550 |
| Pitch maintenance | 1,414 | 1,853 |
| Equipment | 1,777 | 2,753 |
| Training and DBS checks | 1,940 | 800 |
| Presentation day trophies | 1,855 | 3,868 |
| ---------------------------- | ---------------------------- | |
| 15,121 | 27,964 | |
| ---------------------------- | ---------------------------- | |
| Governance costs | ||
| Meeting costs and administration | – | 120 |
| Credit card charges | 2 | 44 |
| Depreciation | 1,149 | 1,149 |
| Professional costs re new ground | 592 | 3,602 |
| Site removal and building costs re new ground | 56,261 | 5,305 |
| Sundry expenses | 693 | 123 |
| ---------------------------- | ---------------------------- | |
| 58,697 | 10,343 | |
| ---------------------------- | ---------------------------- | |
| ---------------------------- | ---------------------------- | |
| Expenditure on charitable activities | 73,818 | 38,307 |
| ============================ | ============================ | |
| ---------------------------- | ---------------------------- | |
| Net income/(expenditure) | 24,931 | (13,063) |
| ============================ | ============================ |
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