**REGISTERED COMPANY NUMBER: 04506510 (England and Wales) REGISTERED CHARITY NUMBER: 1096171** 

## **Trustees' Report and** 

**Audited Financial Statements for the Year Ended 31 August 2022** 

## **for** 

**St Mary's College Sports Development Company** 

**(A Company Limited by Guarantee)** 



## **St Mary's College Sports Development Company** 

## **Contents of the Financial Statements for the year ended 31 August 2022** 

||**Page**|**Page**|**Page**|
|---|---|---|---|
|**Trustees' Report**|1|to|3|
|**Report of the Independent Auditors**|4|to|6|
|**Statement of Financial Activities**||7||
|**Balance Sheet**||8||
|**Notes to the Financial Statements**|9|to|15|





**St Mary's College Sports Development Company (Registered number: 04506510)** 

## **Trustees' Report for the year ended 31 August 2022** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of 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** 

## **Significant activities** 

The principal activity of the Company is the advancement of the education of the pupils of St Mary's College by the provision of sports facilities and for the provision of facilities for healthy recreation for the general public with particular regard to the needs of the young, infirm and aged. 

The Trustees have complied with the duty in Section 17 (5) of the Charities Act 2011 to have regard to the guidance published by the Charity Commission about Public Benefit. 

## **Public benefit** 

The Company, through its sports facility known as "The Academy" is a fee charging charity and as such the trustees have a duty to ensure that the Academy provide activities that further its charitable purposes for the public benefit. The aims and purpose of the Charity, as registered with the Charity Commission are: 

The provision of a gym, dance studio, sports hall and various fitness classes to the community and young people. 

The Academy is committed to providing these facilities for the local population and encouraging a healthy lifestyle for young people and the community that use the Academy, in pursuit of the aims of the charity. Staff at the Academy have been trained to provide exercise programmes as part of a previous GP referral programme. 

The main customer of the Academy is St Mary's College who use the facility almost exclusively during the day, until 4pm, for the benefit of young people at the College. After 4pm a variety of sporting activities are  available  for  young  people,  such  as  table  tennis  and  trampolining,  through  clubs  that  use  the Academy and provide instructors, and also through activities organised by the school. The school also provides free use of the gym at any time to young people between the ages of 16 and 19 in education at the college. 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Charitable activities** 

The Academy continues to operate in a difficult trading environment with significant competition from low cost gyms in the area and as a result most customer prices were not increased for the fifth year running. The monthly charges to the Academy's main customer, being St Mary's College, were similar to that in 2021. 

The Academy is located on the site of St Mary's College and the college has various sports facilities including a sports hall, 4G pitch and multi use games courts. Lettings for the schools' facilities are managed  through  The  Academy  and  therefore  staff  costs  for  managing  the  leisure  facilities  are apportioned between the Academy and school . 

This is the 3rd year the Covid 19 pandemic has affected the trading of the company. Although income from the use of the facilities by external users and sports clubs has increased it is still not at the levels seen prior to the pandemic. In the previous year, the company was in receipt of £42,139 of Local Authority  Covid  Support  Grants  but  received  no  financial  support  this  year.  Operating  expenditure increase slightly. Excluding depreciation on restricted fixed assets this has resulted in a deficit for the year of £14,089 (2021:surplus £30,112). 

## **FINANCIAL REVIEW** 

## **Investment policy and objectives** 

There are no restrictions on the Charity's power to invest.  The investment strategy is set up by the Trustee  Board  with  professional  assistance  and  is  reviewed  annually.   It  takes  account  of  income requirements, risk profile and future expenditure of the Charity. 

## **Reserves policy** 

The trustees seek to maintain a level of free reserves (that is funds not tied up in fixed assets and restricted  funds)  that  enable  the  Charity  to  sustain  its  operation  over  a  period  when  the  income 

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generation may be curtailed temporarily or permanently.  The trustees consider the most appropriate level to be 6 months expenditure on charitable objectives and management of the organisation. 

## **FUTURE PLANS** 

The Trustees annually review the activities of the charity to ensure that the objectives are being achieved. 

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**St Mary's College Sports Development Company (Registered number: 04506510)** 

## **Trustees' Report for the year ended 31 August 2022** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution** 

The Company is limited by guarantee. The liability of members in the event of the Company being wound up is limited to £1. The Company was incorporated on 8th August 2002 and registered as a Charity on 24th February 2003. 

The Company is governed by its Memorandum and Articles of Association. 

## **Recruitment and appointment of new trustees** 

The Trustees are recruited by the Trustees of St Cuthbert's Roman Catholic Academy Trust of which St Mary's College, Hull is part. New Trustees are given such information and training as they require to fulfil their duties. 

## **Organisation** 

The trustees meet on a regular basis to administer the Company.  They are supported by the Finance Manager and staff of St Mary's College who manage the day-to-day operations.  The staff are employed by St Cuthbert's Roman Catholic Academy Trust and recharged to the Company. 

## **Risk management** 

The trustees are reviewing the major risks to which the Charity is exposed.  Internal risks are minimised by the implementation of procedures for authorising transactions and projects and to ensure consistent quality of delivery for all the operational aspects of the charitable Company.  These procedures are periodically reviewed to ensure that they still meet the needs of the Charity. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Registered Company number** 

04506510 (England and Wales) 

## **Registered Charity number** 

1096171 

## **Registered office** 

St Mary's College Cranbrook Avenue Hull East Yorkshire HU6 7TN 

## **Trustees** 

Mr G M Fitzpatrick Mr P A Fearnley Mrs S Teasdale Chief Finance Officer (appointed 9/12/2021) 

The trustees are also directors under Company Law. One third of the trustees retire by rotation and being eligible offer themselves for re-election at the Annual General Meeting. The trustees are appointed by the Trustees of St Cuthbert's Roman Catholic Academy Trust of which St Mary's College is a part. 

## **Auditors** 

RSM UK Audit LLP 2 Humber Quays Wellington Street West HULL East Yorkshire HU1 2BN 

## **Bankers** 

National Westminster Bank plc 34 King Edward Street Hull HU1 3YN 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees (who are also the directors of St Mary's College Sports Development Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally 

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Accepted Accounting Practice).
Page 2

**St Mary's College Sports Development Company (Registered number: 04506510)** 

## **Trustees' Report for the year ended 31 August 2022** 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued** 

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The  trustees  are  responsible  for  keeping  proper  accounting  records  which  disclose  with  reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## **AUDITORS** 

The auditors,  RSM UK Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. 

Approved by order of the board of trustees on 13[th] December 2022 and signed on its behalf by: 


Mr G M Fitzpatrick - Trustee 

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## **Report of the Independent Auditors to the Members of St Mary's College Sports Development Company (Registered number: 04506510)** 

## **Opinion** 

We  have  audited  the  financial  statements  of  St  Mary's  College  Sports  Development  Company  (the 'charitable company') for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting  policies. The  financial  reporting  framework  that has  been  applied  in their  preparation is applicable  law  and  United  Kingdom  Accounting  Standards  (United  Kingdom  Generally  Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have  been  properly  prepared  in  accordance  with  United  Kingdom  Generally  Accepted  Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable  law.  Our  responsibilities  under  those  standards  are  further  described  in  the  Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events  or  conditions  that,  individually  or  collectively,  may  cast  significant  doubt  on  the  charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Trustees' Report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

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- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the  trustees  were  not  entitled  to  take  advantage  of  the  small  companies  exemption  from  the requirement to prepare a Strategic Report or in preparing the Trustees' Report. 

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## **Report of the Independent Auditors to the Members of St Mary's College Sports Development Company (Registered number: 04506510)** 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements  can  arise  from  fraud  or  error  and  are  considered  material  if,  individually  or  in  the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

## **The extent to which the audit was considered capable of detecting irregularities, including fraud** 

Irregularities are instances of non-compliance with laws and regulations.  The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit. 

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit. 

However,  it  is  the  primary  responsibility  of  management,  with  the  oversight  of  those  charged  with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. 

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team: 

 obtained  an  understanding  of  the  nature  of  the  sector,  including  the  legal  and  regulatory frameworks that the charitable company operates in and how the charitable company is complying with the legal and regulatory frameworks; 

 inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud; 

 discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud 

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006,  Charities Act 2011 and the charitable company’s governing document. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report and remaining alert to new or unusual transactions which may not be in accordance with the governing documents. 

The audit engagement team identified the risk of management override of controls and as the area where the financial statements were most susceptible to material misstatement due to fraud.  Audit procedures performed included but were not limited to testing manual journal entries and  other adjustments,  evaluating  the  business rationale  in relation  to  significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates. 

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## **Report of the Independent Auditors to the Members of St Mary's College Sports Development Company (Registered number: 04506510)** 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006.  Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose.  To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 

Richard Lewis (Senior Statutory Auditor) for and on behalf of RSM UK Audit LLP 2 Humber Quays Wellington Street West HULL East Yorkshire HU1 2BN 

Date: 

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## **St Mary's College Sports Development Company** 

## **Statement of Financial Activities for the year ended 31 August 2022** 

||||||**2022**|2021|
|---|---|---|---|---|---|---|
|||Unrestricted|||||
||||Restricted||**Total**|Total|
|||fund|fund||**funds**|funds|
||Notes|£|£||**£**|£|
|**INCOME AND ENDOWMENTS FROM**|||||||
|**Charitable activities**|||||||
|Charitable activities||**137,073**||**-**|**137,073**|164,814|
|**EXPENDITURE ON**|||||||
|**Charitable activities**|||||||
|Charitable activities||**151,162**|**140,800**||**291,962**|275,502|
|**NET INCOME/(EXPENDITURE)**||**(14,089)**|**(140,800)**||**(154,889)**|(110,688)|
|**RECONCILIATION OF FUNDS**|||||||



**Total funds brought forward 125,561 281,600 407,161** 517,849 

**TOTAL FUNDS CARRIED FORWARD 111,472 140,800 252,272** 407,161 

The notes form part of these financial statements 

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**St Mary's College Sports Development Company (Registered number: 04506510)** 

## **Balance Sheet 31 August 2022** 

|Unrestricted<br>Restricted<br>fund<br>fund<br>Notes<br>£<br>£<br>**FIXED ASSETS**<br>Tangible assets<br>8<br>**14,191**<br>**140,800**<br>**CURRENT ASSETS**<br>Debtors<br>9<br>**3,111**<br>**-**<br>Cash at bank and in hand<br>**100,257**<br>**-**<br>**103,368**<br>**-**|**2022**<br>**Total**<br>**funds**<br>**£**<br>**154,991**<br>**3,111**<br>**100,257**<br>**103,368**|2021<br>Total<br>funds<br>£<br>296,728<br>5,534<br>137,798<br>143,332|
|---|---|---|



## **CREDITORS** 

Amounts falling due within one year 10 

**(6,087)** 

**(6,087)** (32,899) 

**NET CURRENT ASSETS 97,281** 

**-** 

**97,281** 110,433 

**TOTAL ASSETS LESS CURRENT LIABILITIES 111,472 140,800 252,272** 407,161 

The notes form part of these financial statements 

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**NET ASSETS 111,472 140,800 252,272** 407,161 

## **FUNDS** 

11 Unrestricted funds **111,472** 125,561 Restricted funds **140,800** 281,600 

**TOTAL FUNDS 252,272** 407,161 

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

The  financial  statements  were  approved  by  the  Board  of Trustees  and authorised  for issue  on  13[th] December 2022 and were signed on its behalf by: 


Mr G M Fitzpatrick - Trustee 

The notes form part of these financial statements 

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Mr P A Fearnley - Trustee 

The notes form part of these financial statements 

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**St Mary's College Sports Development Company** 

## **Notes to the Financial Statements for the year ended 31 August 2022** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)',  Financial  Reporting  Standard  102  'The  Financial  Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': 

- the requirements of Section 7 Statement of Cash Flows. 

## **Income** 

Income  represents  grants  and  donations  received,  vending  income  and  usage  of  the  facility excluding value added tax. Income relating to specific periods is apportioned over the accounting period to which it relates. All other income is recognised when the charity is entitled to it and the amount can be quantified with reasonable accuracy. 

## Government Grants 

Government grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to purchase of assets are treated as deferred income and allocated to the profit and loss account over the useful lives of the related assets. Grants related to expenses are treated as income in the profit and loss account in the period they are receivable. 

## **Resources expended** 

Expenditure  is charged  on an accrual’s  basis, inclusive  of irrecoverable  VAT. Direct  charitable expenditure comprises those costs directly incurred in pursuance of the company's charitable activities and where the cost rightly belongs to more than one activity an appropriate proportion. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Long leasehold - in accordance with the property Plant and machinery - at varying rates on cost 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity.  Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

Income  received  from  Sport  England  and  similar  organisations  are  separated  and  treated  as restricted funds. Expenditure incurred in relation to the restricted funds is calculated in accordance with the claims for funding made by the Company. 

## **Going concern** 

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern 

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basis of accounting in preparing the annual financial statements. 

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**St Mary's College Sports Development Company** 

## **Notes to the Financial Statements - continued for the year ended 31 August 2022** 

## **1. ACCOUNTING POLICIES - continued** 

## **Financial instruments** 

Financial  instruments  are  classified  and  accounted  for,  according  to  the  substance  of  the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 

## **2. INCOME FROM CHARITABLE ACTIVITIES** 

## **3.** 

|Activity<br>School usage<br>Charitable activities<br>External usage<br>Charitable activities<br>Clubs<br>Charitable activities<br>Vending and catering<br>Charitable activities<br>Grants<br>Charitable activities<br>Grants received, included in the above, are as follows:<br>Local Authority Covid 19 Support Grant<br>**SUPPORT COSTS**<br>Charitable activities|**2022**<br>2021<br>**£**<br>£<br>**112,304**<br>112,104<br>**11,667**<br>6,635<br>**12,914**<br>3,911<br>**188**<br>23<br>**-**<br>42,139<br>**137,073**<br>164,812<br>**2022**<br>2021<br>-<br>42,139<br>Governance<br>costs<br>£<br>**2,741**|
|---|---|



The audit fees for the company is carried by St Cuthbert's Roman Catholic Academy Trust (Trust). The Trust has a controlling influence of the company. The audit fees are disclosed in the Trust accounts. 

Support costs, included in the above, are as follows: 

## **Governance costs** 

||**Governance costs**|||
|---|---|---|---|
|||**2022**|2021|
|||Charitable|Total|
|||activities|activities|
|||**£**|£|
||Accountancy fees|**1,050**|**900**|
||Ofce costs|**1,691**|**1,619**|
|||**2,741**|**2,519**|
|**4.**|**NET INCOME/(EXPENDITURE)**|||
||Net income/(expenditure) is stated after charging/(crediting):|||
|||**2022**|2021|
|||**£**|£|
||Depreciation - owned assets|**148,494**|147,883|



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**St Mary's College Sports Development Company** 

## **Notes to the Financial Statements - continued for the year ended 31 August 2022** 

## **5. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021. 

## **6. STAFF COSTS** 

The average monthly number of employees during the year was as follows: 

|Sports centre staf|**2022**<br>6|2021<br>6|
|---|---|---|



No employees received emoluments in excess of £60,000. 

The staff are employed by the St Cuthbert's Roman Catholic Academy Trust on the company's behalf. 

## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

||Unrestricted|Unrestricted|||
|---|---|---|---|---|
|||Restricted||Total|
||fund|fund||funds|
||£|£||£|
|**INCOME AND ENDOWMENTS FROM**|||||
|**Charitable activities**|||||
|Charitable activities|164,814||-|164,814|
|**EXPENDITURE ON**|||||
|**Charitable activities**|||||
|Charitable activities|134,702|140,800||275,502|
|**NET INCOME/(EXPENDITURE)**|30,112|(140,800)||(110,688)|
|**RECONCILIATION OF FUNDS**|||||



## **Total funds brought forward** 

95,449 422,400 517,849 

## **TOTAL FUNDS CARRIED FORWARD** 

125,561 281,600 407,161 

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Page 11

## **St Mary's College Sports Development Company** 

## **Notes to the Financial Statements - continued for the year ended 31 August 2022** 

## **8. TANGIBLE FIXED ASSETS** 

|**COST**<br>At 1 September 2021<br>Additions<br>At 31 August 2022<br>**DEPRECIATION**<br>At 1 September 2021<br>Charge for year<br>At 31 August 2022<br>**NET BOOK VALUE**<br>At 31 August 2022<br>At 31 August 2021|Long<br>leasehold<br>£<br>**2,926,477**<br>**-**<br>**2,926,477**<br>**2,633,877**<br>**146,300**<br>**2,780,177**<br>**146,300**<br>292,600|Plant and<br>machinery<br>£<br>**234,140**<br>**6,757**<br>**240,897**<br>**230,012**<br>**2,194**<br>**232,206**<br>**8,691**<br>4,128|Totals<br>£<br>**3,160,617**<br>**6,757**<br>**3,167,374**<br>**2,863,889**<br>**148,494**<br>**3,012,383**<br>**154,991**<br>296,728|
|---|---|---|---|



The Company has a licence to occupy the land for a period of 21 years from 14th August 2002 at a peppercorn rent. 

Expenditure amounting to £200,804 was incurred prior to the incorporation of the company and is included in fixed assets. 

## **9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

## **10.** 

|Trade debtors<br>VAT<br>Prepayments<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Amounts owed to group undertakings<br>VAT<br>Accruals and deferred income||**2022**<br>**£**<br>**1,929**<br>**-**<br>**1,182**<br>**3,111**<br>**2022**<br>**£**<br>**764**<br>**3,833**<br>**373**<br>**1,117**<br>**6,087**|2021<br>£<br>1,200<br>615<br>3,719<br>5,534<br>2021<br>£<br>21,863<br>9,827<br>-<br>1,209<br>32,899|
|---|---|---|---|
|||||



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**St Mary's College Sports Development Company** 

## **Notes to the Financial Statements - continued for the year ended 31 August 2022** 

## **11. MOVEMENT IN FUNDS** 

|**11.**|**MOVEMENT IN FUNDS**||||
|---|---|---|---|---|
||||Net||
||||movement|At|
|||At 1.9.21|in funds|31.8.22|
|||£|£|£|
||**Unrestricted funds**||||
||General fund|**125,561**|**(14,089)**|**111,472**|
||**Restricted funds**||||
|Capital Grants|||||
|**281,600**|||||
|**(140,800)**|||||
|**140,800**|||||



**TOTAL FUNDS 407,161 (154,889) 252,272** 

Net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|**137,073**|**(151,162)**|**(14,089)**|
|**Restricted funds**||||



Capital Grants 

**(140,800) (140,800)** 

## **TOTAL FUNDS** 

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**137,073 (291,962) (154,889)** 

## **Comparatives for movement in funds** 

|||Net||
|---|---|---|---|
|||movement|At|
||At 1.9.20|in funds|31.8.21|
||£|£|£|
|**Unrestricted funds**||||
|General fund|95,449|30,112|125,561|
|**Restricted funds**||||



Capital Grants 422,400 (140,800) 281,600 

**TOTAL FUNDS** 517,849 (110,688) 407,161 

Comparative net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|164,812|(134,700)|30,112|
|**Restricted funds**||||



Capital Grants - (140,800) (140,800) 

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TOTAL FUNDS
164,812
1275.5001
1110.6881
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**St Mary's College Sports Development Company** 

## **Notes to the Financial Statements - continued for the year ended 31 August 2022** 

## **11. MOVEMENT IN FUNDS - continued** 

A current year 12 months and prior year 12 months combined position is as follows: 

|||Net||
|---|---|---|---|
|||movement|At|
||At 1.9.20|in funds|31.8.22|
||£|£|£|
|**Unrestricted funds**||||
|General fund|95,449|16,023|111,472|
|**Restricted funds**||||



Capital Grants 422,400 (281,600) 140,800 

**TOTAL FUNDS** 517,849 (265,577) 252,272 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|301,885|(285,862)|16,023|
|**Restricted funds**||||



Capital Grants - (281,600) (281,600) 

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**TOTAL FUNDS** 301,885 (567,462) (265,577) 

## **12. CONTINGENT LIABILITIES** 

In the event of the leasehold property being disposed of before October 2024 the grant received from Sports England amounting to £2,473,884 may be repayable and VAT recovered of £513,692 may be repayable. 

## **13. RELATED PARTY DISCLOSURES** 

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with the controlling Trust as the company's results are consolidated into the Trust's Financial Statements for the year. 

The ultimate controlling party is St Cuthbert's Roman Catholic Academy Trust (Registered number: 09023802), a company registered in England and Wales. Its registered address is St Mary's College, Cranbrook Avenue, Hull, HU6 7TN. 

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**St Mary's College Sports Development Company** 

## **Notes to the Financial Statements - continued for the year ended 31 August 2022** 

## **14. COMPANY LIMITED BY GUARANTEE** 

The company is limited by guarantee and therefore it has no share capital. The liability of members is limited to £1 each. The total number of members at 31st August 2021 was 3 (2020 - 3). 

In the event of the Company being wound up, the unrestricted fund and any excess of income over expenditure is not to be distributed to the members, but all property of the Company after the settlement of debts shall be transferred to the Roman Catholic Diocese of Middlesbrough. 

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