Trustee Report 2021
Chester Boxers
Chester Boxing Club
Trustees Report 2021
pg.7
2021
Trustee Report 2021
Chester Boxers
Trustee Report
l. Purpose
As detailed under the legal requirements for the Trustees, Annual report as set out in the Charitie5
Regulation 2(M)8, this report looks to provide the relative information as required under the
Statement of Recommended Practice ISORPI
2. Administrative detail of the Charity. its Trustees and advisors
a. The Name of the Charity is- Chester Boxers Hereinafter referred to as 'the CharIt-
b. The Charity Registration number is: 1095693
The registered address of the Charity is: Unit 3, Lightfoot Business Centre, Lightfoot
Street, Chester, CH2 3AD
d. The charity has currently appointed 6 Trustees named below=
l. Peter Brocklehurst
2. Terrance Carroll (Vice Chairman of trustee board)
3. Christopher Kappler (appointed 20131
4. Kevin Sweeney Ichairman of trustee board)
5. Simon Kirkham (appointed 20201
e. The Charity has also appointed two directors who are named below=
1. Stephen Goodwin
2. Christopher Kappler (appointed 20151
Due to the limited size of the charity. trustees and directors adopt other roles to the
extent that offiter roles are filled by the following personnel:
Secretary- Christopher Kappler.
Treasurer- Peter Brocklehurst
it was agreed that the appointment to the roles did not constitute a conflict of interestl
2.IStrurture. governance and management
The Charity adopted its constitution on 18th 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 thi5 tier of management to deal with the changing needs of the
charity.
While 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.
pg.1
2021
Trustee Report 2021
Chester Boxers
3. Financial Review
2021 has been equally as challenging as the previous year mainly due to the uncertainty surrounding
the global pandemic. The tharity has always heavily relied on outsourced funding from municipal
charities and organisation whereas over the last year government funding has been our main source
of income. Having only has a 5m311 pefcentage of the year where we could allow members into the
gym has mearlt an unpredictable financial forecast, similar to the previous year. Although when we
have been allowed to open we have found a similar n4Jmber of traffic as previous years which looks
good for the future. Income from the gym itself as well as income generated from our shop was
enough to keep the charity afloat and cover running costs and overheads. As always outsovrced
funding was always essential if we were to improve our facilities and equipment. This year we have
relied heavily on government grant and furlough payment5 like many bu5inesse5 throughout the
country. Without this financial help the charity would cease to exist.
There is currently no reserves policy in place but thi5 has not been problematic to the financial
position in the past. Like previous years we are happy that we hold zero debt and believe this to be
essential as not only does it show that the charity to be self-sustainable it also presents us with the
freedom to reinvest our funds in new equipment. The only exception to this 15 the bounce back loan
which was provided by the government which will have to be paid back in due course. With this
government funding we therefore have a higher cash reseNe although with the uncertain future we
are reluctant to invest any of this money as it may be needed to cover running costs. The Charity
realises that in order to fulfil its objectives there is a need to hold resee$ to cover running
expenses and small capital expenditure. Over the last 12 months this figure has been continually
reviewed. Reserves do not no 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 charities immediate needs will be
dispersed to organisations that in the management committee's opinion reflect or mirror the
objectives of the charity-
4. Funds held as custodian trustee on behalf of others.
The Charity does not hold any funds or other assets on behalf of any organisation.
S. Public benefit Statement
The trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regards
to the public benefit guidance published by the Charity Commission in December 2008.
It is the charities objectives that members of the public will benefit from the developments of the
SeiCe5 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 actively entourage the public to adopt healthier lifestyles. To Engage in the
promotion of drug awareness and to promote the access to the gym and its facilities through the
local council, reElStered housing providers and a diverse range of community organisations.
2021
Trustee Report 2021
Chester Boxers
6. Risk Management
All major insurable risks are subject to the normal employerfs 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. 2021 has so far shown similar
risks to the previous year and as such with the exception of COVID, which the charity has been very
proactive in continually deep cleansing and sanitisation of all equipment. Track and trace was
introduced once lockdown was lifted and customers returned. Any persons refusing to cooperate
with new legislation were and will continue to be asked to leave the premises. We are happy to say
that everyone using our facilities have adhered to government guidance and rules set by our club.
We have once again renewed our insurance and are covered through all possible outcomes,
including liability cover for directors should a claim be brought against any of our committee
members.
7. Objectlves and Actlvities
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, ljoxing, MMA. weight
training. cage boxing, krav maga, Muay Thai. The pro8rammes instituted in 2016 which included
Brazilian Jujitsu and over 18 mixed boxing 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 51JPPOrt 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 age5 for both men and women. Overall class numbers are
increasing none more so than the kid's classes. The level of amateur competitors has remained the
same although we hope to see an increase in these numbers over the coming months as COVIO
regulations are lifted and more people, especially those at high risk which are part of the demo
8raph we hope to attract, feel safer leaving their homes especially once the COVID vaccine has been
delivered to people around our local area.
The charity continues to maintain its existing equipment to a high Standard. As set out in the 2020
report, the trustees agreed a new boxing ring was needed. As ststed in last yearfs report, fundin8 for
a new ring and cage were acquired. These have now arrived and have been installed. Currently, and
until we have a better understanding when we can expect the current pandemic to end and all
restrictions to be lifted. we will cease to purchase any more equipment and machinery and all
resources and funding will be to ensure that the charity is able to, not only open, but open and
malntain the standards set pre pandemic.
The Charity will still continue to have a strong relationship with Cheshire West and Chester council,
and Cheshire Police where we still offer our full support towards the young offenderf5 Scheme and
the rehabilitation of adults sentenced to community setvice and are continually exploring more
pg.3
2021
Trustee Report 2021
Chester Boxers
During lockdown. as builders were classed as essential worker5. we used this time to renovate our
ladies changing facilitie5. As set out in last years report we hope to attract more women to our gym
and hope having better facilities will help achieve this
OVERVIEW
After overcoming all difficL*lties that have been presented to us of the last 18 months, It Is of our
opinion that the charity/ gym has managed to maintain its high level of standards. Financial we are
stable and all our staff and directors are working tirelessly to continue our good work and help take
the gyrn to a new level. We hope by the time of our next Statement we will see customer traffic level
off to slightly higher than previous years averages and our children's classes become established.
We will continue to apply for funding to help improve facilities and hope to have more members
taking part in competitions and representing our gym on an international stage.
The above 15 approved by the board of tsustees and slgned on thelr behalf by:
Steve Goodwin
Date
Terrence Carroll
Date
pg.5
2021
Trustee Report 2021
Chester Boxer5
Christopher Kappler
Date
LILL
Kevin Sweeney
Date
Peter Brocklehurst
Date
pg.6
2021
**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 2021**
## **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 United Kingdom CH2 3AD **Independent examiner** Azets Audit Services Brynford House 21 Brynford Street Holywell Clwyd United Kingdom 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 2021**_
The trustees present their report and financial statements for the year ended 31 July 2021.
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 2020 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.
- 1 -
## **CHESTER BOXERS LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **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.
- 2 -
## **CHESTER BOXERS LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
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: 2 December 2021
- 3 -
## **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 2021.
## **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:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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
- 4 the financial statements 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 financial statements to be reached.
Melanie Langton-Davies ACA,FCCA Azets Audit Services
Brynford House 21 Brynford Street Holywell Clwyd CH8 7RD United Kingdom
Dated: .........................
- 4 -
## **CHESTER BOXERS LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 JULY 2021**_
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2021**|2020|
||**Notes**|
**£**|**£**|
|**Income from:**||||
|Donations and legacies|**4**|14,519|5,484|
|Charitable activities|**3**|28,707|26,000|
|Other trading activities|**5**|45,211|36,457|
|**Total income**||88,437|67,941|
|**Expenditure on:**||||
|Raising funds|**6**|7,594|7,699|
|Charitable activities|**7**|73,987|59,837|
|**Total resources expended**||81,581|67,536|
|**Net income for the year/**||||
|**Net movement in funds**||6,856|405|
|Fund balances at 1 August 2020||53,442|53,037|
|**Fund balances at 31 July 2021**||60,298|53,442|
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.
- 5 -
## **CHESTER BOXERS LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 JULY 2021**_
||||**2021**||**2020**||
|---|---|---|---|---|---|---|
||**Notes**|**£**||**£**|**£**|**£**|
|**Fixed assets**|||||||
|Tangible assets|**11**|||82,539||78,590|
|**Current assets**|||||||
|Stocks|**12**|1,300|||1,250||
|Cash at bank and in hand||15,514|||9,872||
|||16,814|||11,122||
|**Creditors: amounts falling due within**|||||||
|**one year**|**13**|(39,055)|||(36,270)||
|Net current liabilities||||(22,241)||(25,148)|
|**Total assets less current liabilities**||||60,298||53,442|
|**Income funds**|||||||
|Unrestricted funds||||60,298||53,442|
|||||60,298||53,442|
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 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 2 December 2021
Mr S J Goodwin
**Trustee**
## **Company Registration No. 05511166**
- 6 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **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, United Kingdom.
## **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.
- 7 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **1 Accounting policies**
**(Continued)**
## **1.5 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.
## **1.6 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 ) .
## **1.7 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.
## **1.8 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.
- 8 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **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.
## **1.9 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.
## **1.10 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 Charitable activities**
||**Unrestricted**|
**Unrestricted**|
|---|---|---|
||**funds**|
**funds**|
||**2021**|
**2020**|
||**£**|
**£**|
|Grants|28,707|
26,000|
- 9 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **4 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Donations|14,519|5,484|
## **5 Other trading activities**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Gym fees, classes and other income|28,829|23,714|
|Shop income|10,195|9,270|
|Sponsorships|-|75|
|Job Retention Scheme grants|6,187|3,398|
|Other trading activities|45,211|36,457|
## **6 Raising funds**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Trading costs|||
|Opening stock|1,250|1,000|
|Goods for resale|7,644|7,949|
|Closing stock|(1,300)|
(1,250)|
|Trading costs|7,594|7,699|
||7,594|7,699|
- 10 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2021**_
## **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
Instructors and trainers
Share of governance costs (see note 8)
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
-
1,356
Professional fees
-
1,524
-
2,880
Analysed between
Charitable activities
-
2,880|**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2021**
**2020**
**£**
**£**
14,163
11,929
23,312
22,027
13,660
14,223
1,127
1,233
732
902
621
408
602
860
689
1,214
1,080
448
22
10
3,217
1,208
2,882
2,457
9,000
-
71,107
56,919
2,880
2,918
73,987
59,837
**2021**
Support
costs
Governance
costs
2020
**£**
£
£
£
1,356
-
1,290
1,290
1,524
-
1,628
1,628
2,880
-
2,918
2,918
2,880
-
2,918
2,918|
|---|---|
## **8 Support costs**
- 11 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **9 Trustees**
## **Trustees' remuneration and benefits**
During the year one of the trustees received remuneration from Chester Boxers Limited. Amounts paid for salary totalled £ 13,913 (20 20 : £1 1,457 ) and pension contributions of £2 50 (20 20 : £ 233 ).
## **Trustees' expenses**
There were no trustees expenses paid paid for the year ended 31 July 202 1 nor for the year ended 31 July 20 20 .
## **10 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
|**2021**
**Number**
1
**Employment costs**
**2021**
**£**
Wages
13,913
Pensions
250
14,163
**Tangible fixed assets**
**Improvements**
**to property**
**Plant and**
**machinery**
**Fixtures and**
**fittings**
**Motor vehicles**
**£**
**£**
**£**
**£**
**Cost**
At 1 August 2020
12,210
203,344
11,457
3,840
Additions
-
27,260
-
-
At 31 July 2021
12,210
230,604
11,457
3,840
**Depreciation and impairment**
At 1 August 2020
12,210
127,027
10,099
2,924
Depreciation charged in the year
-
22,861
313
138
At 31 July 2021
12,210
149,888
10,412
3,062
**Carrying amount**
At 31 July 2021
-
80,716
1,045
778
At 31 July 2020
-
76,316
1,359
915|**2020**
**Number**
1
**2020**
**£**
11,696
233
11,929
**Total**
**£**
230,851
27,260
258,111
152,260
23,312
175,572
82,539
78,590|
|---|---|
## **11 Tangible fixed assets**
- 12 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
|**12**
**Stocks**
Stocks
**13**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Accruals and deferred income|**2021**
**£**
1,300
**2021**
**£**
654
35,322
3,079
39,055|**2020**
**£**
1,250
**2020**
**£**
688
32,886
2,696
36,270|
|---|---|---|
## **14 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none) .
- 13 -
**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 2021**
## **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 United Kingdom CH2 3AD **Independent examiner** Azets Audit Services Brynford House 21 Brynford Street Holywell Clwyd United Kingdom 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 2021**_
The trustees present their report and financial statements for the year ended 31 July 2021.
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 2020 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.
- 1 -
## **CHESTER BOXERS LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **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.
- 2 -
## **CHESTER BOXERS LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
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: 2 December 2021
- 3 -
## **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 2021.
## **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:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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
- 4 the financial statements 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 financial statements to be reached.
Melanie Langton-Davies ACA,FCCA Azets Audit Services
Brynford House 21 Brynford Street Holywell Clwyd CH8 7RD United Kingdom
Dated: .........................
- 4 -
## **CHESTER BOXERS LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 JULY 2021**_
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2021**|2020|
||**Notes**|
**£**|**£**|
|**Income from:**||||
|Donations and legacies|**4**|14,519|5,484|
|Charitable activities|**3**|28,707|26,000|
|Other trading activities|**5**|45,211|36,457|
|**Total income**||88,437|67,941|
|**Expenditure on:**||||
|Raising funds|**6**|7,594|7,699|
|Charitable activities|**7**|73,987|59,837|
|**Total resources expended**||81,581|67,536|
|**Net income for the year/**||||
|**Net movement in funds**||6,856|405|
|Fund balances at 1 August 2020||53,442|53,037|
|**Fund balances at 31 July 2021**||60,298|53,442|
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.
- 5 -
## **CHESTER BOXERS LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 JULY 2021**_
||||**2021**||**2020**||
|---|---|---|---|---|---|---|
||**Notes**|**£**||**£**|**£**|**£**|
|**Fixed assets**|||||||
|Tangible assets|**11**|||82,539||78,590|
|**Current assets**|||||||
|Stocks|**12**|1,300|||1,250||
|Cash at bank and in hand||15,514|||9,872||
|||16,814|||11,122||
|**Creditors: amounts falling due within**|||||||
|**one year**|**13**|(39,055)|||(36,270)||
|Net current liabilities||||(22,241)||(25,148)|
|**Total assets less current liabilities**||||60,298||53,442|
|**Income funds**|||||||
|Unrestricted funds||||60,298||53,442|
|||||60,298||53,442|
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 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 2 December 2021
Mr S J Goodwin
**Trustee**
## **Company Registration No. 05511166**
- 6 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **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, United Kingdom.
## **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.
- 7 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **1 Accounting policies**
**(Continued)**
## **1.5 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.
## **1.6 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 ) .
## **1.7 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.
## **1.8 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.
- 8 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **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.
## **1.9 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.
## **1.10 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 Charitable activities**
||**Unrestricted**|
**Unrestricted**|
|---|---|---|
||**funds**|
**funds**|
||**2021**|
**2020**|
||**£**|
**£**|
|Grants|28,707|
26,000|
- 9 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **4 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Donations|14,519|5,484|
## **5 Other trading activities**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Gym fees, classes and other income|28,829|23,714|
|Shop income|10,195|9,270|
|Sponsorships|-|75|
|Job Retention Scheme grants|6,187|3,398|
|Other trading activities|45,211|36,457|
## **6 Raising funds**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Trading costs|||
|Opening stock|1,250|1,000|
|Goods for resale|7,644|7,949|
|Closing stock|(1,300)|
(1,250)|
|Trading costs|7,594|7,699|
||7,594|7,699|
- 10 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2021**_
## **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
Instructors and trainers
Share of governance costs (see note 8)
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
-
1,356
Professional fees
-
1,524
-
2,880
Analysed between
Charitable activities
-
2,880|**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2021**
**2020**
**£**
**£**
14,163
11,929
23,312
22,027
13,660
14,223
1,127
1,233
732
902
621
408
602
860
689
1,214
1,080
448
22
10
3,217
1,208
2,882
2,457
9,000
-
71,107
56,919
2,880
2,918
73,987
59,837
**2021**
Support
costs
Governance
costs
2020
**£**
£
£
£
1,356
-
1,290
1,290
1,524
-
1,628
1,628
2,880
-
2,918
2,918
2,880
-
2,918
2,918|
|---|---|
## **8 Support costs**
- 11 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
## **9 Trustees**
## **Trustees' remuneration and benefits**
During the year one of the trustees received remuneration from Chester Boxers Limited. Amounts paid for salary totalled £ 13,913 (20 20 : £1 1,457 ) and pension contributions of £2 50 (20 20 : £ 233 ).
## **Trustees' expenses**
There were no trustees expenses paid paid for the year ended 31 July 202 1 nor for the year ended 31 July 20 20 .
## **10 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
|**2021**
**Number**
1
**Employment costs**
**2021**
**£**
Wages
13,913
Pensions
250
14,163
**Tangible fixed assets**
**Improvements**
**to property**
**Plant and**
**machinery**
**Fixtures and**
**fittings**
**Motor vehicles**
**£**
**£**
**£**
**£**
**Cost**
At 1 August 2020
12,210
203,344
11,457
3,840
Additions
-
27,260
-
-
At 31 July 2021
12,210
230,604
11,457
3,840
**Depreciation and impairment**
At 1 August 2020
12,210
127,027
10,099
2,924
Depreciation charged in the year
-
22,861
313
138
At 31 July 2021
12,210
149,888
10,412
3,062
**Carrying amount**
At 31 July 2021
-
80,716
1,045
778
At 31 July 2020
-
76,316
1,359
915|**2020**
**Number**
1
**2020**
**£**
11,696
233
11,929
**Total**
**£**
230,851
27,260
258,111
152,260
23,312
175,572
82,539
78,590|
|---|---|
## **11 Tangible fixed assets**
- 12 -
## **CHESTER BOXERS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2021**_
|**12**
**Stocks**
Stocks
**13**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Accruals and deferred income|**2021**
**£**
1,300
**2021**
**£**
654
35,322
3,079
39,055|**2020**
**£**
1,250
**2020**
**£**
688
32,886
2,696
36,270|
|---|---|---|
## **14 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none) .
- 13 -