REGISTERED CHARITY NUMBER 1100319
SPORT IN DESFORD
ANNUAL REPORT AND FINANCIAL STATEMENTS 31 MARCH 2023
SFB GROUP LIMITED CHARTERED ACCOUNTANTS UNIT 8 OAK SPINNEY PARK RATBY LANE LEICESTER FOREST EAST LEICESTER LE3 3AW
SPORT IN DESFORD
INDEX
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| Legal and administrative information Trustees' report Independent Examiner’s report Statement of financial activities Balance sheet Notes forming part of the financial statements |
Page 1 2 - 3 4 5 6 7 - 10 |
|---|---|
SPORT IN DESFORD
REGISTERED CHARITY NUMBER 1100319
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| Trustees: | J.B. Houghton |
|---|---|
| S.M. Houghton | |
| S.V. Morris (dec’d 10.02.2023) | |
| M. Hand | |
| A.D. Mortimer | |
| M.D. Hill | |
| N. Alder | |
| Principal office: | 6 Bedford Close |
| Desford | |
| Leicester | |
| LE9 9HN | |
| Independent Examiner: | SFB Group Limited |
| Chartered Accountants | |
| Unit 8 | |
| Oak Spinney Park | |
| Ratby Lane | |
| Leicester Forest East | |
| Leicester | |
| LE3 3AW | |
| Solicitors: | Salusbury Harding & Barlow |
| 1 Berridge Street | |
| Leicester | |
| LE1 5JT | |
| Bankers: | HSBC plc |
| Market Place | |
| Market Bosworth | |
| Nuneaton | |
| Warwickshire | |
| CV13 0JR |
SPORT IN DESFORD
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TRUSTEES' REPORT YEAR ENDED 31 MARCH 2023
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The Trustees present their report together with the financial statements of the charity for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity’s trust deed and applicable law. They have also been prepared in line with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice – UK GAAP), including FRS102, The Financial Reporting Standards applicable in the UK and Republic of Ireland.
Constitution and objects
Sport In Desford is constituted in England and Wales under a trust deed dated 6 March 2002 and was registered as a charity (number 1100319) on 27 October 2003. The trust deed was revised on 5 June 2013 and 1 June 2016.
The object of the charity is to promote community participation within the village of Desford and its environs in healthy recreation, in particular by the provision of facilities for playing bowls, tennis, table tennis, squash, football, recreational fitness, running, netball and scouting.
Achievements and Performance
As well as maintaining a full maintenance program, in August 2022 SiD was able to replace the floodlights on all 3 tennis courts with LED units at a total cost of £20,880, fully funded by grants. This not only improved the lighting significantly, but also reduced electricity consumption by 40% and virtually eliminates the need for maintenance. The Inclusive Club has expanded to twice a month and secured funding for the next 3 years from the NHS with a grant from Awards for All providing transport from Hinckley and Earl Shilton. All existing regular hirings, particularly Linda Williams Dance Academy, continue to expand and all the sports sections continue to flourish post Covid.
The management team continued to develop the accounting systems and SiD remains a thriving organisation serving our ever growing village with a special footprint of care across our wide family range. With thanks to all our wonderful volunteers and team who work hard to maintain our mission.
Structure, governance and management
At the annual general meeting of the Charity, the members shall elect from amongst themselves a chair, vice chair, secretary, treasurer, membership secretary and a development officer, known as Honorary Officers, who shall hold office from the conclusion of that meeting.
The Executive Committee shall consist of not less than six nor more than twenty seven members being the Honorary Officers together with nominated representatives from the individual club sections and up to four co-opted members, save that the number of co-opted members may not exceed one third of the total membership of the Executive Committee. The Parish Council also have three places on the Executive Committee as landlords of the site.
At each Annual General Meeting, the Executive Committee nominates a minimum of six and a maximum of ten people to serve as Trustees of the Charity for the ensuing year. Nominations for the appointment of a new Trustee can be brought to the regular meetings of the Executive Committee and ratified by majority vote. A nomination of a new Trustee shall be supported by not less than three members of the Executive Committee.
Executive Committee members may stand for re-election at the next and each subsequent Annual General Meeting. Trustees would be expected to serve at least a term from the date of appointment to the third Annual General Meeting following their appointment, but will then be eligible for re-election.
The trustees meet regularly to review the charity’s affairs and operations, having in mind at all times the Charity Commission’s guidance on public benefit, specifically including in their Annual Report issues of Governance, Compliance, Finance and along with the Executive Committee the presentation of a Business Plan for the ensuing two years. They also operate a rolling review of Health and Safety Policies whilst ensuring compliance with Employment, Data Protection, Equal Opportunities, Complaints etc Policies. Insurance cover is provided by Desford Parish Council.
SPORT IN DESFORD
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TRUSTEES' REPORT YEAR ENDED 31 MARCH 2023
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…./Contd
The trustees who have served during the year (and since the year end) are shown on page 1.
It is with deep sorrow that the trustees announce the death of Steve Morris who sadly passed away on 10 February 2023. His amiable manner and contributions to SiD’s continuing development will be sorely missed.
Financial review
Following the resurgence and encouraging growth in all operating activities, the effect of the Covid closure was virtually eliminated during the year. A summary of the financial activities of the charity is set out on page 5 and related notes.
Reserves policy
Apart from grant receipts not yet expended, it is the policy of the charity to maintain unrestricted funds to provide sufficient resources to cover management, administrative and operational costs and to provide for an unrestricted contingency fund.
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and trust deed. The Statement of Financial Activities has been prepared in accordance with the requirements of the Statement of Recommended Practice (SORP 2019) “Accounting by Charities”. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed on their behalf by:
S.M. HOUGHTON CHAIR OF THE TRUSTEES
21 September 2023
SPORT IN DESFORD
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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We report on the accounts of Sport In Desford for the year ended 31 March 2023 which are set out on pages 5 to 10. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard 102 (effective 1 January 2019), (United Kingdom Generally Accepted Accounting Practice applicable to smaller entities).
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to our attention.
Basis of independent examiner's statement
Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do 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 our examination, no matter has come to our attention:
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i) which gives us reasonable cause to believe that in any material respect, the requirements
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- ii) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
SFB GROUP LIMITED
Chartered Accountants Unit 8 Oak Spinney Park Ratby Lane Leicester Forest East LEICESTER LE3 3AW
24 October 2023
SPORT IN DESFORD
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STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023
| ---------------------------------------------------------------- Incoming resources Incoming resources from generated funds Activities for generating funds Investment income Resources expended Unallocated costs of activities Net outgoing resources being net movement in funds Balance at 1 April 2022 Balance at 31 March 2023 Unrestricted funds General Reserve: Balance at 1 April 2022 Deficit for year Transfer from Special Reserve fund Transfer from/to Contingency fund Balance at 31 March 2023 Special Reserve: Balance at 1 April 2022 Transfer to General Reserve Contingency: Balance at 1 April 2022 Allocation for the year Balance at 31 March 2023 Restricted funds Deferred Grants: Balance at 1 April 2022 Movement for the year Balance at 31 March 2023 |
---------------------------------------------------------------------- Note 2023 2022 2 54,239 30,768 4 (1,397) 8,529 --------- --------- 52,842 39,297 5 60,545 56,353 --------- --------- (7,703) (17,056) 130,884 147,940 ----------- ---------- £ 123,181 £ 130,884 ====== ====== 69,191 81,855 (7,703) (17,056) - 20,000 6,345 (15,608) --------- --------- £ 67,833 £ 69,191 ===== ===== - 20,000 - (20,000) --------- --------- £ - £ - ===== ===== 61,693 46,085 (6,345) 15,608 --------- --------- 55,348 61,693 ---------- ---------- £ 123,181 £ 130,884 ====== ====== 11,020 15,676 660 (4,656) --------- --------- £ 11,680 £ 11,020 ===== ===== |
|---|---|
The notes on pages 7 to 10 form part of these accounts.
SPORT IN DESFORD
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BALANCE SHEET AT 31 MARCH 2023
| ---------------------------------------------------------------- Fixed assets Tangible assets Investment Current assets Bank Investment Debtors Creditors: amounts falling due within one year Net current assets Funds General reserve (unrestricted) Contingency reserve (unrestricted) Deferred Grants (restricted) |
---------------------------------------------------------------------- Note 2023 2022 9 79,596 80,596 10 100 100 --------- --------- 79,692 80,696 7,154 12,760 11 55,348 61,693 12 5,315 823 --------- --------- 67,817 75,276 13 12,652 14,068 --------- --------- 55,165 61,208 ----------- ---------- £ 134,861 £ 141,904 ====== ====== 67,833 69,191 14 55,348 61,693 ----------- ----------- 123,181 130,884 15 11,680 11,020 ----------- ----------- £ 134,861 £ 141,904 ====== ====== |
|---|---|
The financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the trustees on 21 September 2023 and signed on their behalf by:
S.M. HOUGHTON - TRUSTEE
The notes on pages 7 to 10 form part of these accounts.
SPORT IN DESFORD
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NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023
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- Accounting policies
The financial statements of the charity, 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 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The principal accounting policies of the charity are set out below and have remained unchanged from the previous year:
(a) Income and expenditure
Income and expenditure are included on the accruals basis and expenditure is inclusive of irrecoverable VAT.
(b) Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Clubhouse fixtures and equipment Over five years (six months charge in year of acquisition) Long Leasehold Premises Over the unexpired lease period
(c) Fixed asset investments
Fixed asset investment represents shares held in the charity’s trading subsidiary company, Sport In Desford Trading Limited.
Since a reliable estimate of market value is not readily available and, as such an estimate could not be obtained without undue expense, this investment is included in the financial statements at cost.
(d) Current Asset Investments
Current asset investment represents units held in charitable investment funds and is stated at realisable value.
(e) Grants receivable
Income received from grants is included in the Deferred Grants Fund until the money is expended, whereupon it is deducted from the expenditure incurred or the cost of assets acquired.
Contd/….
SPORT IN DESFORD
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NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023
| NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 |
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 |
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 |
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 |
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 |
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|---|---|---|---|---|---|
| -------------------------------------------------------------------------------------------------------------------------------------- | |||||
| 2023 | 2022 | ||||
| 2. | Activities for generating funds | ||||
| Members’ subscriptions | 6,722 | 4,160 | |||
| Members’ activities (note 3) | 6,919 | ( 618) | |||
| Lettings | 25,790 | 15,600 | |||
| Solar electricity generation | 15,639 | 10,718 | |||
| Multi Use Games Area (MUGA) | 744 | 1,127 | |||
| E.V. charging | (1,575) | ( 219) | |||
| --------- | --------- | ||||
| £ 54,239 | £ 30,768 | ||||
| ===== | ===== | ||||
| 3. | Activities | ||||
| Income | Expenditure | ||||
| Tennis | 2,150 | - | 2,150 | 1,577 | |
| Squash | 2,565 | - | 2,565 | 674 | |
| Football | 1,925 | - | 1,925 | 393 | |
| Bowls | 1,010 | - | 1,010 | 726 | |
| Fitness | 25,446 | 28,623 | (3,177) | (4,658) | |
| Scouts | 1,055 | - | 1,055 | 550 | |
| Table Tennis | 1,191 | - | 1,191 | 865 | |
| Internal Grants | - |
- | - | ( 745) | |
| Netball | 200 | - | 200 | - | |
| --------- | --------- | -------- | -------- | ||
| £ 35,542 | £ 28,623 | £ 6,919 | £ ( 618) | ||
| ====== | ====== | ===== | ===== | ||
| 4. | Investment income | ||||
| (Decrease)/increase in contingency fund investment | (1,245) | 8,570 | |||
| Bank charges and interest | ( 152) | ( 41) | |||
| ------- | ------- | ||||
| £ (1,397) | £ 8,529 | ||||
| ==== | ==== | ||||
| 5. | Unallocated costs of activities | ||||
| Maintenance: | Grounds | 5,263 | 7,587 | ||
| Clubhouse | 14,449 | 12,865 | |||
| Clubhouse services | 35,062 | 31,186 | |||
| Printing and publicity | 1,200 | 535 | |||
| Accountancy and payroll | 3,400 | 2,400 | |||
| Depreciation of fixtures and equipment | 703 | 900 | |||
| Amortisation of | leasehold premises | 918 | 918 | ||
| Donation receipts | ( 450) | ( 38) | |||
| --------- | --------- | ||||
| £ 60,545 | £ 56,353 | ||||
| ===== | ===== |
6. Trustees’ remuneration and expenses
No remuneration or expenses were paid to the trustees in the current or preceding year.
Contd/….
SPORT IN DESFORD
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NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023
| NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 |
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 |
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 |
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 |
|---|---|---|---|
| -------------------------------------------------------------------------------------------------------------------------------------- | |||
| 2023 | 2022 | ||
| 7. | Independent Examiner’s fees | ||
| Fees payable to the Charity’s Independent Examiner for:- | |||
| The examination of the annual accounts | 500 | 500 | |
| Other services | 2,900 | 1,900 | |
| ------- | ------- | ||
| £ 3,400 | £ 2,400 | ||
| ==== | ==== | ||
| 8. | Employees | ||
| Activity income and clubhouse services costs | |||
| is after charging staff costs comprising: | |||
| Wages and salaries | 54,255 | 49,392 | |
| Furlough receipts | - | (1,104) | |
| National Insurance: Contributions | 2,535 | 1,315 | |
| Incentive | (2,535) | (1,315) | |
| Pension scheme contributions | 447 | 431 | |
| -------- | --------- | ||
| £ 54,702 | £ 48,719 | ||
| ===== | ===== |
The average number of employees during the year including the charity’s trading subsidiary company, Sport In Desford Trading Limited, was seven (2022 – seven).
| 9. Tangible fixed assets (net of grants received) Long Leasehold Total Premises Cost At 1 April 2022 115,484 90,806 Additions 621 - ---------- --------- At 31 March 2023 116,105 90,806 ---------- --------- Depreciation At 1 April 2022 34,888 11,170 Charge 1,621 918 --------- -------- At 31 March 2023 36,509 12,088 --------- -------- Net book value At 31 March 2023 £ 79,596 £ 78,718 ===== ===== At 31 March 2022 £ 80,596 £ 79,636 ===== ===== |
Fixtures & Equipment 24,678 621 --------- 25,299 --------- 23,718 703 --------- 24,421 --------- £ 878 ==== £ 960 ==== |
|---|---|
Cost of Leasehold Premises is stated net of grants received of £1,055,066 (2022 - £1,034,186).
Cost of Fixtures and Equipment is stated net of grants received of £82,913 (2022 - £82,913).
SPORT IN DESFORD
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NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023
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| 10. Fixed asset investments Cost and Net Book Value At 1 April 2022 and at 31 March 2023 |
Shares in subsidiary undertakings £ 100 ==== |
|---|---|
Holdings of more than 20%
The charity holds more than 20% of the share capital of the following company:
| Subsidiary undertaking | Country of registration | Shares | held |
|---|---|---|---|
| or incorporation | Class | % | |
| Sport In Desford Trading Limited | England (4975356) | Ordinary | 100 |
The aggregate amount of capital and reserves and the results of this undertaking for the last relevant financial year to 31 March 2023 were as follows:
| Capital and reserves £ 5,953 ==== |
Turnover £ 11,595 ===== |
Expenses £ 11,766 £ ===== |
Loss 171 ==== |
|---|---|---|---|
11. Investment
This is the Contingency Fund and is invested in COIF Charities Ethical Investment Fund Accumulation Units.
| 12. | Debtors | 2023 | 2022 | |
|---|---|---|---|---|
| Activity debtors | £ 5,315 | £ 823 | ||
| ==== | ==== | |||
| 13. | Creditors: amounts falling due within one year | |||
| Amount due to: | subsidiary undertaking | 5,027 | 5,197 | |
| member activities | 6,938 | 7,038 | ||
| Sundry creditors | 687 | 1,833 | ||
| --------- | --------- | |||
| £ 12,652 | £ 14,068 | |||
| ===== | ===== | |||
| 14. | Contingency Reserve | |||
| This is an Unrestricted Reserve available for any unforeseen | expenditure. | |||
| 15. | Deferred grants | |||
| Balance at 1 April 2022 | 11,020 | 15,676 | ||
| Grants received | 25,162 | 12,578 | ||
| Funds expended | (24,502 ) | (17,234) | ||
| ----------- | --------- | |||
| Balance at 31 March 2023 | £ 11,680 | £ 11,020 | ||
| ====== | ===== |