Registered Number: 3871640 England & Wales
LONG LANE JFC LIMITED ACCOUNTS & TRUSTEES ANNUAL REPORT 31 MAY 2024
LONG LANE JFC LIMITED 31 MAY 2024
Independent Examiner's Report to the Trustees of Long Lane Junior Football Club Ltd
I report on the accounts of the company for the year ended 31 May 2024, which are set out on pages 4 to 11.
Respective Responsibilities of Trustees and Examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts The trustees consider that an audit is not required for this year under section 43(2) of the Chanties Act 1993 (the 1993 Act) and that an independent examination is needed The charity's gross income did not exceed £250,000.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 43 of the 1993 Act,
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7)(b) of the 1993 Act, and
-
to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records It also included consideration of any unusual items or disclosures in the accounts, and sought explanations from you as trustees concerning any such matters The procedures undertaken did not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view' and the report is limited to those matters set out in the statement below.
Independent Examiner's Statement
In connection with my examination, no matter has come to my attention
(1) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 386 of the Companies Act 2006 and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice Accounting and Reporting by Charities have not been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached
Gordon Millar, A Millar Associates [Former HM Inspector of Taxes (Inspector Principal)]
7 The Avenue, Bickley, Kent, BR1 2BS
Date 30/08/2024
LONG LANE JFC LIMITED
ABBREVIATED BALANCE SHEET 31 MAY 2024
| May | May | |||
|---|---|---|---|---|
| Notes | 2024 | 2023 | ||
| £ | £ | |||
| Fixed Assets | ||||
| Tangible Assets | 5+6 | 146,305 | 155,355 | |
| Current Assets | ||||
| Cash at Bank & in Hand | 96,809 | 103,063 | ||
| Debtors | 4 | 164,821 | 262,318 | |
| Stocks | 0 | 0 | ||
| Creditors | ||||
| Prepayments & Amounts due within one year | 7 |
(7,531) | (5,035) | |
| Net Current Assets | 254,099 | 360,346 | ||
| Total Assets less Current Liabilities | 400,404 | 515,701 | ||
| Creditors | ||||
| Amounts falling due after one year | 7 | (203,803) | (211,231) | |
| Net Assets | 196,601 | 304,470 | ||
| ======= | ======= | |||
| Capital & Reserves | ||||
| Funds Brought Forward | 304,470 | 229,719 | ||
| Profit & Loss Account | (107,869) | 74,751 | ||
| 8 | 196,601 | 304,470 | ||
| ======= | ======= |
LONG LANE JFC LIMITED
BALANCE SHEET CONTINUATION:
DIRECTORS’ & TRUSTEES’ STATEMENT 31 MAY 2024
The charitable company is constituted to hold the assets and manage the affairs of Long Lane Junior Football Club.
On 1 December 2004 the bar and catering activities of the company were split out and taken over by a trading subsidiary, Long Lane Catering Ltd. Debtors include a net amount of £164,821 representing expenses attributable to Long Lane Catering not yet reimbursed.
For the year ended 31 May 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476,
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime
The directors who served for the year were: K. Buck, D.J. O'Connor and O. McGahey.
In the preparation of the company’s annual accounts, the directors have taken account of the provisions of SORP 2000.
Approved by the Board on - - - - - - - - - - - 2024 and signed on its behalf by:
Registered Office: 74 Little Heath Road Bexleyheath Kent DA7 5HW
LONG LANE JFC LIMITED
NOTES TO THE ACCOUNTS 31 MAY 2024
1) Accounting Policies
Basis of Accounting
The accounts have been prepared under the historical cost convention.
Turnover
Turnover represents invoiced sales net of VAT
Tangible Fixed Assets
Depreciation is provided on a reducing balance basis, after taking account of any grants receivable, at the following annual rates:
Leasehold Property - Straight line over life of lease Football Equip’t - 33% Reducing Balance Fixtures & Fittings - 20% Reducing Balance Motor Vehicles - 25% Reducing Balance
Stocks
Stock is valued at the lower of cost and net realisable value.
2) Income
Voluntary income and donations are accounted for as received by the charity.
3) Operating Surplus/(Loss)
The operating surplus/(loss) is stated after charging:
| Depreciation & similar amounts Auditor/Accountant remuneration 4) Debtors Accounts Receivable Other Long Lane Catering |
2024 £ 29,090 1,296 ===== 2024 0 0 164,821 164,821 |
2023 £ 32,570 1,353 ===== 2023 97,497 0 164,821 |
|---|---|---|
262,318 |
It was decided at the 2024 AGM to write off historical debtors brought forward which it was agreed were not collectible and which distorted the club’s financial position
LONG LANE JFC LIMITED
NOTES TO THE ACCOUNTS 31 MAY 2024
5) Fixed Assets
| Cost 1 June 2023 Additions Disposals 31 May 2024 Depreciation 1 June 2023 Charge for Year 31 May 2024 Net Book Values 1 June 2023 31 May 2024 |
Short Fixtures Leasehold Football Fittings & Motor Property Equip’t Equip’t Vehicles Total £ £ £ £ £ 1,284,429 43,257 492,055 12,269 1,832,010 0 0 0 0 0 0 0 0 20,040 20,040 |
|---|---|
1,284,429 43,257 492,055 32,309 1,852,050 |
|
1,284,429 43,257 344,466 4,503 1,676,655 0 0 22,138 6,952 29,090 1,284,429 43,257 366,604 11,455 1,705,745 0 0 147,589 7,766 155,355 ======= ===== ===== ==== ======= 0 0 125,451 20,854 146,305 ======= ===== ===== ==== ======= |
6) Write Down of Short Leasehold
This issue was discussed at the company's AGM on 3 July 2017.
It was suggested that the accounts were distorted by the inclusion of the leasehold property.
Research by the company's management had established that no-one at the club or in Greenwich Council could explain why the lease was carried in the club's books at such a high value, as the club could not sell or transfer it or benefit from it financially in any reasonable way. The depreciation of the lease distorted the Profit and Loss account by adding £42k depreciation to the expenses.
The matter had been discussed with Greenwich Council and it was agreed by the AGM that the property lease should be retained in the accounts but that its value should be reduced to nil.
| 8) Funds | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Brought Forward Fund | 304,470 | 229,719 |
| Profit/(Loss) | (107,869) | 74,751 |
| Total Funds | 196,601 | 304,470 |
| ======= | ======= | |
| For | management information | only. |
This page does not form part of the statutory accounts.
LONG LANE JFC LIMITED DETAILED PROFIT & LOSS ACCOUNT 31 MAY 2024
| May | May | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | £ | £ | |
| Income | ||||
| Sponsorship & Gifts | 16,821 | 15,936 | ||
| Season’s Donations | 29,184 | 72,370 | ||
| Pitch Donations | 162,867 | 95,732 | ||
| Fund Raising | 1,310 | 1,035 | ||
| Football Tournaments | 3,809 | 925 | ||
| Other Income | 44,171 | 19,622 | ||
| Grants Received | 15,238 | 35,322 | ||
| 273,400 | 240,942 | |||
| Resources Expended | (266,755) | (166,491) | ||
| Other Income & Expenses | ||||
| Interest Receivable | 966 | 291 | ||
| Intercompany Adjustment | 0 | 9 | ||
| Debtors Adjustment | (115,480) | (0) | ||
| Retained Surplus/(Loss) for Year | (107,869) | 74,751 | ||
| ====== | ====== |
For management information only.
This page does not form part of the statutory accounts.
LONG LANE JFC LIMITED DETAILED PROFIT & LOSS ACCOUNT CONTINUATION 31 MAY 2024
Analysis of Resources Expended
| 2024 £ Salary & Wages 83,157 PAYE & N.I. 2,700 Pension& Other Staff Costs 1,595 Rent 6,000 Heat & Light 21,943 Cleaning & Waste 4,254 Repairs & Maintenance 15,373 Pitch Renovation 35,563 Capitalised Astro Adjustment (0) Less Reimbursements (0) Insurance & Service Contracts 7,659 League & Coaching Costs 14,635 Sportswear, Equipment & Medals 7,536 Fund-raising Events & Functions 7,226 Licences & Permits 1,402 Printing Postage & Stationery 2,173 Office & Computer Costs 4,741 Telephone 4,303 Vehicle Expenses 7,146 Travel & Subsistence 620 Legal, Professional & Payroll 0 Accounting & Consultancy 1,296 Bank Charges 6,214 General Expenses 760 Bad Debts 0 Advertising 1,369 Depreciation on Equipment 0 Depreciation on Fittings 22,138 Depreciation on Vehicle 6,952 LL Catering Contribution to Dep'n 0 266,755 ===== |
2023 £ 100,610 1,792 1,199 6,000 19,158 3,392 3,684 37,222 (99,000) (5,750) 6,077 13,427 8,408 6,447 2,264 1,495 4,122 4,036 8,166 0 6,702 1,353 2,803 0 0 314 0 29981 2,589 0 |
|---|---|
| 166,491 ===== |