REGISTERED COMPANY NUMBER: 05056396 (England and Wales) REGISTERED CHARITY NUMBER: 1106581
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 28 February 2023
for
The New Belve Youth & Community Sports Centre Limited
Matthews Sutton & Co Ltd Chartered Certified Accountants 48 - 52 Penny Lane Mossley Hill Liverpool Merseyside L18 1DG
The New Belve Youth & Community Sports Centre Limited
Contents of the Financial Statements for the Year Ended 28 February 2023
| Page | ||
|---|---|---|
| Report of the Trustees | 1 to | 2 |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | |
| Notes to the Financial Statements | 6 to | 10 |
| Detailed Statement of Financial Activities | 11 |
The New Belve Youth & Community Sports Centre Limited
Report of the Trustees for the Year Ended 28 February 2023
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 28 February 2023. 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
Objectives and aims
a) to promote the benefits of the inhabitants of Liverpool 8 and the neighbourhood without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants.
b) to establish, or secure the establishment of a community centre (hereafter called 'the centre') and to maintain and manage the same (whether alone or in co-operation with any local authority or other person or body) in furtherance of those objects.
STRATEGIC REPORT
Financial review
Reserves policy
The board's policy is to ensure that funds are maintained to cover the running expenses of the centre and the 'Restricted Funds' projects the board is committed to. The property refurbishments fund is designed to match the expenditure on the property and is written off over the life of the lease in line with the asset's depreciation.
Overall financial performance:
Excluding depreciation the charity made an unrestricted loss of £5,638 and carries forward an unrestricted fund balance of £31,502. The charity also carries forward a restricted fund balance of £274,071 which represents capital improvements to property. Owing to depreciation of £38,404, largely on the building, included within the resources expended, the accounts show a net expenditure of £44,042 (not cash but based on assets held). This will appear every year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
The members of The New Belve Youth & Community Sports Centre Ltd vote upon nominations for Trusteeship at AGM's. The Board of Trustees have the power to co-opt Trustees in between AGM's however, the Co-optee has to stand down at the next AGM to be then considered by the members for Trusteeship.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05056396 (England and Wales)
Registered Charity number
1106581
Registered office
89-91 Miles Street Toxteth Liverpool Merseyside L8 4PX
Page 1
The New Belve Youth & Community Sports Centre Limited
Report of the Trustees for the Year Ended 28 February 2023
Trustees
Mrs M Hughes Ms J E Robinson Mrs D M Alleyne Ms H M Hughes Trustee K Zounis Manager Sports Centre
Company Secretary
K Zounis
Independent Examiner
G Evans Matthews Sutton & Co Ltd Chartered Certified Accountants 48 - 52 Penny Lane Mossley Hill Liverpool Merseyside L18 1DG
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 28 November 2023 and signed on the board's behalf by:
Mrs M Hughes - Trustee
Page 2
Independent Examiner's Report to the Trustees of The New Belve Youth & Community Sports Centre Limited
Independent examiner's report to the trustees of The New Belve Youth & Community Sports Centre Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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
-
the accounts 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 accounts to be reached.
G Evans
Matthews Sutton & Co Ltd Chartered Certified Accountants 48 - 52 Penny Lane Mossley Hill Liverpool Merseyside L18 1DG
28 November 2023
Page 3
The New Belve Youth & Community Sports Centre Limited
Statement of Financial Activities for the Year Ended 28 February 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 58,288 Investment income 2 10,558 Total 68,846 EXPENDITURE ON Charitable activities Sports Centre 90,889 NET INCOME/(EXPENDITURE) (22,043) RECONCILIATION OF FUNDS Total funds brought forward 31,503 TOTAL FUNDS CARRIED FORWARD 9,460 |
Restricted funds £ - - - 38,404 (38,404) 274,071 235,667 |
2023 Total funds £ 58,288 10,558 68,846 129,293 (60,447) 305,574 245,127 |
2022 Total funds £ 69,608 4,145 73,753 117,795 (44,042) 349,616 305,574 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
The New Belve Youth & Community Sports Centre Limited
Balance Sheet
28 February 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 2,669 CURRENT ASSETS Cash at bank and in hand 7,661 CREDITORS Amounts falling due within one year 7 (870) NET CURRENT ASSETS 6,791 TOTAL ASSETS LESS CURRENT LIABILITIES 9,460 NET ASSETS 9,460 FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 235,667 - - - 235,667 235,667 |
2023 Total funds £ 238,336 7,661 (870) 6,791 245,127 245,127 9,460 235,667 245,127 |
2022 Total funds £ 277,211 29,244 (881) 28,363 305,574 305,574 31,503 274,071 305,574 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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 28 November 2023 and were signed on its behalf by:
M Hughes - Trustee
The notes form part of these financial statements
Page 5
The New Belve Youth & Community Sports Centre Limited
Notes to the Financial Statements
for the Year Ended 28 February 2023
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.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the life of the lease. Plant and machinery - 15% on reducing balance Computer equipment - 25% 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.
Page 6
continued...
The New Belve Youth & Community Sports Centre Limited
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
2. INVESTMENT INCOME
3.
| Rents received NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2023 £ 10,558 2023 £ 38,875 |
2022 £ 4,145 |
|---|---|---|
| 2022 £ 38,958 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2023 nor for the year ended 28 February 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 69,608 Investment income 4,145 Total 73,753 EXPENDITURE ON Charitable activities Sports Centre 79,391 NET INCOME/(EXPENDITURE) (5,638) RECONCILIATION OF FUNDS Total funds brought forward 37,141 TOTAL FUNDS CARRIED FORWARD 31,503 |
Restricted funds £ - - - 38,404 (38,404) 312,475 274,071 |
Total funds £ 69,608 4,145 73,753 117,795 (44,042) 349,616 305,574 |
|---|---|---|
Page 7
continued...
The New Belve Youth & Community Sports Centre Limited
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
6. TANGIBLE FIXED ASSETS
| Improvements | |||||
|---|---|---|---|---|---|
| to | Plant and | Computer | |||
| property | machinery | equipment | Totals | ||
| £ | £ | £ | £ | ||
| COST | |||||
| At 1 March 2022 and 28 February 2023 | 883,281 | 23,207 | 5,161 | 911,649 | |
| DEPRECIATION | |||||
| At 1 March 2022 | 609,210 | 20,067 | 5,161 | 634,438 | |
| Charge for year | 38,404 | 471 | - | 38,875 | |
| At 28 February 2023 | 647,614 | 20,538 | 5,161 | 673,313 | |
| NET BOOK VALUE | |||||
| At 28 February 2023 | 235,667 | 2,669 | - | 238,336 | |
| At 28 February 2022 | 274,071 | 3,140 | - | 277,211 | |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Accrued expenses | 870 | 881 | |||
| 8. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.3.22 | in funds | 28.2.23 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 31,503 | (22,043) | 9,460 | ||
| Restricted funds | |||||
| Property refurbishments fund | 274,071 | (38,404) | 235,667 | ||
| TOTAL FUNDS | 305,574 | (60,447) | 245,127 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 68,846 | (90,889) | (22,043) | ||
| Restricted funds | |||||
| Property refurbishments fund | - | (38,404) | (38,404) | ||
| TOTAL FUNDS | 68,846 | (129,293) | (60,447) |
Page 8
continued...
The New Belve Youth & Community Sports Centre Limited
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.3.21 | in funds | 28.2.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 37,141 | (5,638) | 31,503 |
| Restricted funds | |||
| Property refurbishments fund | 312,475 | (38,404) | 274,071 |
| TOTAL FUNDS | 349,616 | (44,042) | 305,574 |
| Comparative net movement in funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 73,753 | (79,391) | (5,638) |
| Restricted funds | |||
| Property refurbishments fund | - | (38,404) | (38,404) |
| TOTAL FUNDS | 73,753 | (117,795) | (44,042) |
| A current year 12 months and prior year 12 months combined position is as | follows: | ||
| Net | |||
| movement | At | ||
| At 1.3.21 | in funds | 28.2.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 37,141 | (27,681) | 9,460 |
| Restricted funds | |||
| Property refurbishments fund | 312,475 | (76,808) | 235,667 |
| TOTAL FUNDS | 349,616 | (104,489) | 245,127 |
Page 9
continued...
The New Belve Youth & Community Sports Centre Limited
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Property refurbishments fund TOTAL FUNDS |
Incoming resources £ 142,599 - 142,599 |
Resources Movement expended in funds £ £ (170,280) (27,681) (76,808) (76,808) (247,088) (104,489) |
|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2023.
Page 10
The New Belve Youth & Community Sports Centre Limited
Detailed Statement of Financial Activities
for the Year Ended 28 February 2023
| INCOME AND ENDOWMENTS Donations and legacies Sales Donations Grants Investment income Rents received Total incoming resources EXPENDITURE Charitable activities Wages Coach fees Rates and water Light and heat Telephone Sundries Bank charges Licences & subscriptions Cleaning Travelling Repairs & maintenance Improvements to property Charitable expenditure Support costs Governance costs Insurance Postage and stationery Accountancy and legal fees Plant and machinery Total resources expended Net expenditure |
2023 £ 18,093 1,851 38,344 58,288 10,558 68,846 32,481 8,547 2,950 6,820 847 520 329 400 3,042 7,081 7,453 38,404 14,700 123,574 3,557 - 1,691 471 5,719 129,293 (60,447) |
2022 £ 17,990 8,208 43,410 69,608 4,145 73,753 25,587 3,930 1,357 5,253 815 2,479 318 329 2,511 8,875 14,386 38,404 8,000 112,244 3,249 190 1,558 554 5,551 117,795 (44,042) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 11