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2020-07-31-accounts

Charity Registration No. 1095693

Company Registration No. 05511166 (England and Wales)

CHESTER BOXERS LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2020 PAGES FOR FILING WITH REGISTRAR

CHESTER BOXERS LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr S J Goodwin
Mr T Carroll
Mr P Brocklehurst
Mr K P Sweeney
Mr C Kappler
Mr S J Kirkham (Appointed 1 October
2020)
Secretary Mr C Kappler
Charity number 1095693
Company number 05511166
Registered office Unit 3
Lightfoot Street
Chester
Cheshire
England
CH2 3AD
Independent examiner Azets
Brynford House
21 Brynford Street
Holywell
Flintshire
Wales
CH8 7RD

CHESTER BOXERS LIMITED

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 13

CHESTER BOXERS LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2020

The trustees present their report and financial statements for the year ended 31 July 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 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)".

Objectives and activities

The objectives of the charity continue to be ‘The promotion of community participation in healthy recreation in particular by the provision of facilities for boxing and martial arts’. To this end the charity looks to provide professional instruction in the following activities, boxing; MMA; weight training; cage boxing; krav maga; muay thai. The programmes instituted in 2016 which included Brazilian Jujitsu and over 18 mixed classes continue to be a success. It is still recognised that the area lacked exercise facilities; therefore, the charity continues to utilize the gym facilities to engage with the local community to deliver support programmes on central and local government healthy living initiatives. Regular pilates classes instituted in 2015 in response to its own research and to satisfy demand continue to grow and Kickboxing classes on Wednesday and Friday are proving popular as they cater for mixed ages for both men and women. Overall class numbers are increasing none more so than the kids classes. We have more boxers competing in amateur competitions than ever before.

As well as refurbishing and maintaining our runners and cross trainers we have also added a new seated

back pull machine.

The Charity still continues to have a strong relationship with Cheshire West and Chester council, and Cheshire Police where we still offer our full support towards the young offenders scheme and the rehabilitation of adults sentenced to community service and are continually exploring more opportunities of joint ventures with existing bodies to further enhance the gyms work on the local community.

The many activities reported in our 201 9 report remain available through the charity and focus on developing confidence, self-esteem and a disciplined lifestyle for people from a range of different backgrounds and of all age groups which is also having a great benefit on combating social isolation. Our staff continue to work one on one with our members to help distil discipline through self-defence. Working one on one give our staff the chance to identify behavioural problems and address them. To help advertise these services the charity is represented at local community meetings and events to highlight the services we offer.

The Charity is still highly active in working with children and adults who are classified as obese, providing fitness programmes for weight loss and advice on how to eat healthier and live a healthier lifestyle, which currently is a local and national problem have great strain on our national health service. The Charity has recognised that these activities can have a profound impact on an individual health and confidence. Various activities for children are attracting ever increasing attendances. We now have three dedicated nights for children's classes and may add a third if the participants continue to grow.

The charity is still offering work experience positions to schools and colleges to enable young people to gain transferable skills to assist them when looking for future employment.

The charity maintains its association with 'Clubmark' (a national body which looks to improve the attraction to young people to take up sport by benchmarking services) and continues to maintain the required standard in delivering an excellent service.

CHESTER BOXERS LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020

Achievements and performance

The number of members has shown a small increase over the year with our membership fee of £25 for the month offering great value for money compared to other local gyms. We currently have no plans to increase our prices as we wish to remain to be seen affordable. Maintaining our level of members is indicative that the charity is continuing to have success in engaging with the community where any failure to achieve this would have seen a drop off in the number of members.

The Charity still looks to put on activities for younger people throughout the school holidays to act as a distraction to dissuade many who may look to spend their time engaging in low levels of crime and anti-social behaviour.

Competitions have increased this year and we have a record number of medical cards and amateur fighters and we are hoping for more success in the coming year.

Financial review

To deliver its services the charity relies on grant funding, income from the shop and income from membership which is currently sufficient to meet the charity's immediate needs. However, large capital expenditure would still be reliant on grants.

There is currently no reserves policy in place but this has not been problematic to the financial position. The Charity will still work towards putting this in place. The charity realises that in order to fulfil its objectives there is a need to hold reserves to cover running expenses and small capital expenditure. Over the last 12 months this figure has been continually reviewed. Reserves do not now appear as a specific sum in the accounts and have become incorporated into cash held at the bank; this will be reviewed over the year. The charity has decided that funds exceeding this sum or deemed to be in excess of the charity's immediate needs will be dispersed to organisations that in the management committee's opinion reflect or mirror the objectives of the charity.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and consitutes a limited company, limited by guarantee , as defined by the Companies Act 2006 .

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr S J Goodwin Mr T Carroll Mr P Brocklehurst Mr K P Sweeney Mr C Kappler Mr K Delaney (Resigned 1 October 2020) Mr S J Kirkham (Appointed 1 October 2020)

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.

CHESTER BOXERS LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020

The charity adopted its constitution on the 18th of July 2005 and the constitution acts as the principle governance document.

Trustees are retired and can be re-elected at each Annual General Meeting. Trustees can be appointed to enable the skills sets of this tier of management to deal with the changing needs of the charity.

While the directors and trustees undertake the final decision making, this level of governance is informed by the management committee who undertake the day to day running of the charity. This structure provides adequate checks and balances in the management of the charity.

The management committee comprises of trustees, directors, officers and members who are elected in accordance with the constitution.

Statement of Public Benefit

The Trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission in December 2008.

It is the charity's objectives that members of the public will benefit from the development of the services offered by the charity and that this benefit should apply to all members of the public without discrimination of any kind. Towards this aim the trustees have guided the programme of services available to encourage the public to adopt healthier lifestyles. To engage in the promotion of drug awareness in schools and to promote the access to the gym and its facilities through the local council, registered housing providers and community organisations.

Risk Management

All major insurable risks are subject to the normal employer's insurance. An annual review of areas of risk undertaken by trustees in conjunction with the staff responsible for that particular area of activity. As a result of risk analysis, the charity has ensured that all of their members of staff are trained in first aid to minimise risk to the members using the facility.

The trustees' r eport was approved by the Board of Trustees.

Mr S J Goodwin

Trustee Dated: 21 January 2021

CHESTER BOXERS LIMITED

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHESTER BOXERS LIMITED

I report to the trustees on my examination of the financial statements of Chester Boxers Limited (the charity) for the year ended 31 July 2020.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable 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 that in any material respect:

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 financial statements to be reached.

Azets

Brynford House 21 Brynford Street Holywell Flintshire CH8 7RD Wales

Dated: 21 January 2021

CHESTER BOXERS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2020

Unrestricted Unrestricted
funds funds
2020 2019
Notes
£		 £
Income from:
Donations and legacies 3 5,484 10,282
Charitable activities 4 26,000 -
Other trading activities 5 36,457 61,902
Total income 67,941 72,184
Expenditure on:
Raising funds 6 7,699 14,528
Charitable activities 7 59,837 56,796
Total resources expended 67,536 71,324
Net income for the year/
Net movement in funds 405 860
Fund balances at 1 August 2019 53,037 52,177
Fund balances at 31 July 2020 53,442 53,037

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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

CHESTER BOXERS LIMITED

BALANCE SHEET

AS AT 31 JULY 2020

2020 2019
Notes £ £ £ £
Fixed assets
Tangible assets 11 78,590 75,141
Current assets
Stocks 12 1,250 1,000
Cash at bank and in hand 9,872 1,953
11,122 2,953
Creditors: amounts falling due within
one year 13 (36,270) (25,057)
Net current liabilities (25,148) (22,104)
Total assets less current liabilities 53,442 53,037
Income funds
Unrestricted funds 53,442 53,037
53,442 53,037

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2020.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 21 January 2021

Mr S J Goodwin Trustee

Company Registration No. 05511166

CHESTER BOXERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020

1 Accounting policies

Charity information

Chester Boxers Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 3, Lightfoot Street, Chester, Cheshire, CH2 3AD, England.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 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 financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

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 financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

CHESTER BOXERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property 20% on cost Plant and machinery 25% reducing balance Fixtures and fittings 20% on cost Motor vehicles 15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CHESTER BOXERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Donations 5,484 10,282

CHESTER BOXERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020

4 Charitable activities

Unrestricted 2019
funds
2020
£ £
Grants 26,000 -

5 Other trading activities

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Gym fees, classes and other income 23,714 42,309
Shop income 9,270 18,743
Sponsorships 75 850
Other income 3,398 -
Other trading activities 36,457 61,902

6 Raising funds

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Trading costs
Opening stock 1,000 1,000
Goods for resale 7,949 14,528
Closing stock (1,250)
(1,000)
Trading costs 7,699 14,528
7,699 14,528

CHESTER BOXERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2020

7 Charitable activities

Staff costs
Depreciation and impairment
Rent and rates
Light and heat
Telephone
Repairs and renewals
Subscriptions
Travel and subsistence
Gym overheads
Postage, printing and stationery
Gym equipment
Insurance
Share of governance costs (see note 8)
Support costs
Support
costs
Governance
costs
£
£
Accountancy
-
1,290
Professional fees
-
1,628
-
2,918
Analysed between
Charitable activities
-
2,918		 Charitable
Expenditure
Heading 1
Charitable
Expenditure
Heading 1
2020
2019
£
£
11,929
13,610
22,027
21,084
14,223
10,905
1,233
2,036
902
1,488
408
1,395
860
657
1,214
474
448
443
10
37
1,208
457
2,457
2,390
56,919
54,976
2,918
1,820
59,837
56,796
2020
Support
costs
Governance
costs
2019
£
£
£
£
1,290
-
1,290
1,290
1,628
-
530
530
2,918
-
1,820
1,820
2,918
-
1,820
1,820

8 Support costs

CHESTER BOXERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020

9 Trustees

Trustees' remuneration and benefits

During the year one of the trustees received remuneration from Chester Boxers Limited. Amounts paid for salary totalled £13,923 (2019: £13,474) and pension contributions of £233 (2018: £169).

Trustees' expenses

There were no trustees expenses paid paid for the year ended 31 July 2020 nor for the year ended 31 July 2019.

10 Employees

Number of employees

The average monthly number of employees during the year was:

2020
Number
1
Employment costs
2020
£
Wages
11,696
Pensions
233
11,929
Tangible fixed assets
Improvements
to property
Plant and
machinery
Fixtures and
fittings
Motor vehicles
£
£
£
£
Cost
At 1 August 2019
12,210
178,983
10,342
3,840
Additions
-
24,360
1,115
-
At 31 July 2020
12,210
203,343
11,457
3,840
Depreciation and impairment
At 1 August 2019
12,210
105,309
9,950
2,763
Depreciation charged in the year
-
21,718
148
162
At 31 July 2020
12,210
127,027
10,098
2,925
Carrying amount
At 31 July 2020
-
76,316
1,359
915
At 31 July 2019
-
73,673
391
1,077		 2019
Number
1
2019
£
13,441
169
13,610
Total
£
205,375
25,475
230,850
130,232
22,028
152,260
78,590
75,141

11 Tangible fixed assets

CHESTER BOXERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020

12
Stocks
Stocks
13
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2020
£
1,250
2020
£
688
32,886
-
2,696
36,270		 2019
£
1,000
2019
£
212
20,706
1,739
2,400
25,057

14 Related party transactions

There were no disclosable related party transactions during the year (2019 - none).