Company number 03670835
Ladybridge Sports and Leisure Limited
( A company limited by guarantee )
Report and Unaudited Financial Statements For the Year Ended 30 November 2021
Charity number 1087770
Ladybridge Sports and Leisure Limited
( A company limited by guarantee)
Financial Statements For the Year Ended 30 November 2021
| Contents | Page |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 9 |
Ladybridge Sports and Leisure Limited
Report of the Trustees for the year ended 30 November 2021
The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual report and financial statements for the year ended 30 November 2021.
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 governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: 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 (FRS102) (effective 1 January 2019)".
Reference and Administrative Information
Charity Name Ladybridge Sports and Leisure Limited Charity registration number 1087770 Company registration number 03670835 Registered Office. 28 Beaumont Drive Ladybridge Bolton BL3 4RZ
Management Committee
Mr S J Hill Trustee & Finance Mr A Waring Trustee Mrs G Hill Trustee Mrs A Hardman Trustee and Welfare Officer Mr AS Hill Secretary
Independent Examiner
Philip Riding FCA, Barlow Andrews LLP, Chartered Accountants, Carlyle House, 78 Chorley New Road, Bolton BL1 4 BY
Bankers
Royal Bank of Scotland plc, 46-48 Deansgate, Bolton, BL1 1BH
Solicitors
Russell and Russell Solicitors,Churchill House,Wood Street, Bolton BL1 1EE
Page 1
Ladybridge Sports and Leisure Limited
Report of the Trustees for the year ended 30 November 2021 (continued)
Structure, Governance and Management
Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 19 November 1998 and registered as a charity on 30 July 2001. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute £1.
Recruitment and Appointment
The directors of the company are also charity trustees for the purposes of charity law. The Trustees are elected for a twelve month period after which they can be considered for re-election at the next Annual General Meeting. Ladybridge Sports and Leisure Limited is governed by a Board of Trustees. The trustees along with the management committee are responsible for the strategic direction of the charity. The day to day responsibility and management of Ladybridge Sports and Leisure Limited rests with the management committee.
Mr SJ Hill, Mr A Waring, Mrs A Hardman , Mrs G Hill retired by rotation and, being eligible, offered themselves for re-election.
The management committee consists of an experienced team with a wealth of experience of dealing with children and young people. The skills include qualified youth workers, welfare and wellbeing, chartered quantity surveyor and former financial controller. In the event of any particular skills being required due to retirements etc, individuals are approached to offer themselves for election to the management committee.
Risk Management
The management Committee has conducted a review of the major risks to which the charity is exposed.
A risk register has been established and is updated annually. Where appropriate, procedures have been established to mitigate the risks the charity faces. Procedures are in place to ensure compliance with health and safety of volunteers and visitors to the charity's facilities. All the charity's volunteers have been subjected to Criminal Records Bureau checks and the coaches have achieved the minimum level 1 standard Football Association coaching standard as well as an emergency first aid qualification.
Objectives and Activities
The company's objectives and principal activities are :
To develop the character and personality of children and young people by promoting their physical, moral and spiritual well-being.
To organise and provide or assist in organisation or provision of facilities for physical recreation in the interests of social welfare in any part of Lancashire.
To advance the education of children and young people residing in Lancashire by providing
facilities and opportunities for playing football so as to promote and encourage the physical development of such children and young people.
To encourage children and young people to make full use of the charity's facilities.
The work of the charity inevitably focuses upon children and young people and therefore the Management Committee seeks to ensure that the child protection needs are appropriately reflected with the appointment of a qualified child welfare officer and all volunteers are subject to criminal records bureau approvals.
These main objectives and activities have been achieved throughout the year as a result of the strategies employed by the charity.
Adequate numbers of qualified coaches and volunteers has ensured participants maintained. More football coaching sessions have been provided for young people, resulting in senior members becoming coaches themselves.
Each year,the trustees review the objectives of the charity to ensure that they continue to reflect the aims of the company and to provide a public benefit. The trustees are more than satisfied that they do.
Achievements and Performance
The Charity has been operational in the community nine months out of the last twelve months due to the pandemic.
The Charity highlights include :-
Retained the FA Charter Standard Community Club status. The club continued to deliver football coaching sessions for over 550 children and young people. Successful links with University of Bolton and Bolton Wanderers Community Trust.
Page 2
Ladybridge Sports and Leisure Limited
Report of the Trustees for the year ended 30 November 2021 (continued)
Continued to participate in 6 different leagues in the north west. Increased participation in girls and ladies football. Registered wildcats centre renewed for another year - growth in females playing football. The towns university teams continued to make good use of the clubs facilities along with several external local football and rugby clubs.
We would also like to express our thanks to our team sponsors and benefactors who have once again given so generously in supporting the charity. Financial Review During this period the charity has generated a positive financial outcome with the net increase in funds of £63477 This increase was planned and is to be used as a contribution towards replacing the artificial surface and adding new facilities. Principal Funding Sources 93 % of the charities income has been generated from members etc with the remaining 7% provided by other sources Investment Policy The investment in the artificial grass surface has generated another planned surplus towards additional facilities. Reserves Policy The Management Committee has examined the charitys requirements for reserves in light of the main risks to the organisation. The reserves will be built up to help finance a second artificial grass surface. Plans for Future Periods Submit a planning application to convert its grass surface at Ladybridge Lane Bolton to an artifcial grass surface. Responsibilities of the Trustees Company law requires the directors of the charity (namely the trustees) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the financial resources of the charity for that period. In preparing these financial statements, the trustees are required to :
Select suitable accounting policies and then apply them consistently ; Make judgements and estimates that are reasonable and prudent ; State whether applicable accounting standards and statements of recommended practice have been followed ; Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will be able to continue in operation.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 , the Charity (Accounts and Reports) Regulation 2008 and the provision 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.
Further,the trustees are responsible for preparing their Trustees' Report which should disclose the legal and administrative details of the charity and contain a narrative report explaining the organisation's objectives, a review of the development, activities and achievements of the charity during the period and of its financial performance and position.
Trustees
The trustees who served during the year and upto the date of this report, are as listed on page 1. As the company is limited by guarantee they have no interest in share capital. The liability of members is limited to £1 per member.
Independent Examiner
A resolution for the reappointment of Philip Riding of Barlow Andrews LLP as Independent Examiner will be proposed at the forthcoming Annual General Meeting.
Approved by the Trustees on 22 July 2022 and signed on its behalf by :
Mr S J Hill
Trustee
Page 3
Independent Examiners Report To the Trustees of Ladybridge Sports and Leisure Limited
I report to the charity trustees on my examination of the accounts of the company for the year ended 30 November 2021, which are set out on pages 5 to 9.
This report is made solely to the charitable company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the charitable company’s trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charitable company’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Philip Riding FCA
of Barlow Andrews LLP Chartered Accountants Carlyle House 78 Chorley New Road Bolton Date 22 July 2022 BL1 4BY
Page 4
LADYBRIDGE SPORTS AND LEISURE LIMITED
Statement of Financial Activities ( Including Income & expenditure Account) For the year ended 30 November 2021
| Notes | 2021 | 2020 | |
|---|---|---|---|
| Incoming Resources - | £ | £ | |
| Charitable Activities | |||
| Subscriptions and fundraising | 139758 | 126357 | |
| Grants & Sponsorship | 6136 | 38197 | |
| Voluntary Income - Donations | 3966 | 0 | |
| Investment Income - Bank Interest | 0 | 0 | |
| Total incoming resources | 7 | 149860 | 164554 |
| Resources Expended - | |||
| Charitable Activities | |||
| League,Pitch Fees,Festivals and Trips | 8440 | 3674 | |
| Hire of Coaching Venues | 0 | 0 | |
| Sports Kits & consumable equipment | 5778 | 13985 | |
| Annual Presentation Trophies | 2484 | 0 | |
| Sportsfelds,facilities maintenance & operational costs | 25694 | 26066 | |
| Insurances | 2982 | 2827 | |
| Utilities | 4270 | 2256 | |
| Administration | 3827 | 4167 | |
| Depreciation | 31668 | 31668 | |
| Football Association Training Courses | 1240 | 980 | |
| Total resources expended | 7 | 86383 | 85623 |
| Net movement in funds | 7 | 63477 | 78931 |
| Reconciliation of funds | |||
| Funds brought forward | 7 | 535515 | 456584 |
| Funds carried forward | 7 | 598992 | 535515 |
All the charity's operations are classed as continuing and all funds held by the charity are unrestricted.
The Statement of Financial Activities includes all gains and losses recognised in the year and incorporates the Income and Expenditure Account of the charity.
Page 5
LADYBRIDGE SPORTS AND LEISURE LIMITED
Balance Sheet as at 30 November 2021
| Notes | 30-Nov | 30-Nov | |||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| FIXED ASSETS | £ | £ | £ | £ | |
| Clubhouse , Sportsfeld & Floodlights | 5 | 96839 | 128507 | ||
| Current Assets | |||||
| Cash & Bank | 506052 | 407250 | |||
| Current Liabilities | |||||
| Creditors : amounts falling due within one year | 4 | 3899 | 242 | ||
| Net Current Assets | 502153 | 407008 | |||
| Net Assets | 6 | 598992 | 535515 | ||
| Unrestricted Funds | |||||
| Designated Funds | 7 | 544277 | 481560 | ||
| General Funds | 7 | 54715 | 53955 | ||
| Total funds | 7 | 598992 | 535515 |
Statement of the directors/trustees requirements under Companies Act 2006
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006,for the year ended 30 November 2021.
No member of the company has deposited a notice,pursuant to section 476,requiring an audit of these accounts .
The trustees/directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act, for preparing accounts which give a true and fair view of the state of affairs of the company at 30 November 2021 and of its profit for the year then ended in accordance with section 394 and 395,and otherwise comply with the requirements of the Act relating to accounts,so far as applicable to the charity.
These financial statements are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.
The accounts were approved by the Board on 22 July 2022
Mr SJ Hill Trustee
Company Number : 03670835
Page 6
Ladybridge Sports and Leisure Limited
Notes forming part of the Financial Statements for the year ended 30 November 2021
1. Accounting Policies
Charity Information
Ladybridge Sports and Leisure Limited is a company limited by guarantee. The registered office is 28 Beaumont Drive, Ladybridge, Bolton, Lancashire.
The principal accounting policies are summarised below.
The accounting policies have been applied consistently throughout the year and in the preceding year.
(a) Basis of preparation
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Charities Act 2011 and "Accounting and Reporting by Charities: 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) (effective 1 January 2019)". The charity is a Public Benefit entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
(b) Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the forseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
(c) Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in the furtherance of the general objectives of the charity without purpose and which were not designated for other purposes
Designated funds are unrestricted fund earmarked by the Management Committee for funding the expansion of the charity's sports facilities.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
(d) Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income :
Voluntary income is received by way of subscriptions,grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable.Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when when the charity becomes unconditionally entitled to the grant.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Page 7
Ladybridge Sports and Leisure Limited
Notes forming part of the Financial Statements for the year ended 30 November 2021 (continued)
(e) Resources expended
Expenditure is recognised on the accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of expenditure to which it relates :
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
(f) Fixed assets
Fixed assets are stated at cost less accumulated depreciation.The costs of minor additions costing below £500 are not capitalised.Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life.
Buildings 50 Years Floodlights 10 years 3G Artificial Grass Pitch 10 years
(g) Financial Instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 Other Financial Instrument Issues' of FRS 102 to all its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include cash and bank balances, are measured at transaction price.
Basic financial liabilities
Basic financial liabilities, which include other creditors, are recognised at transaction price.
(h) Taxation
The trust has charitable status and is thus exempt from taxation of its income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives.
2. Trustee Remuneration & Related Party Transactions
No trustees received any remuneration during the year ( 2020 - Nil). No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2020 - Nil ).
| 3. Analysis of Creditors | 2021 | 2020 |
|---|---|---|
| £ | £ | |
| Utilities | 1114 | 242 |
| Kit and equipment | 641 | 0 |
| Others | 2144 | 0 |
| 4.Financial instruments | 2021 | 2020 |
| £ | £ | |
| Carrying amount of fnancial liabilities | ||
| Measured at amortised cost | 3899 | 242 |
Page 8
Ladybridge Sports and Leisure Limited
Notes forming part of the Financial Statements for the year ended 30 November 2021(continued)
5. Fixed Assets
| Cost As at 1 December 2020 Additions Cost at 30 November 2021 Depreciation As at 1 December 2020 Charge for the year As at 30 November 2021 Net Book Value 30th November 2021 30th November 2020 6.Analysis of net assets Tangible fxed Assets Cash at bank and in hand Creditors 30th November 2021 |
Leasehold Fixtures and Property Fittings Total £ £ £ 76132 319857 395989 0 0 0 76132 319857 395989 40731 226751 267482 1014 30654 31668 41745 257405 299150 34387 62452 96839 35401 93106 128507 General Designated Fund Fund Total £ £ £ 0 96839 96839 54715 451337 506052 0 -3899 -3899 54715 544277 598992 |
|---|---|
7.Unrestricted Funds : Movements in the year
| Nov-20 | Income | Expenditure | Transfers | Nov-21 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Designated Funds | 481560 | 149860 | -86383 | -760 | 544277 |
| General Funds | 53955 | 0 | 0 | 760 | 54715 |
| 535515 | 149860 | -86383 | 0 | 598992 |
The general fund reserved represent a years running costs.
8.Governance costs
Governance costs include payments to the independent examiner of £438 including VAT (2020: £414)
Page 9