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2022-06-21-accounts

Continental Star Football Club

Charity No. 1107046

Trustees' Report and Unaudited Accounts

30 June 2022

Continental Star Football Club Contents

Pages
Trustees' Annual Report 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Accounts 6 to 10
Detailed Statement of Financial Activities 11

Page 1

Continental Star Football Club Trustees Annual Report

The Trustees present their report with the unaudited financial statements of the charity for the year ended 30 June 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1107046

Trustees

The following Trustees served during the year:

A. Bain

G. Christie

R. Hazell

C. Moses

L. Moses

D. Sawyers

Accountants

Pointon Young 33 Ludgate Hill Birmingham B3 1EH

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

C. Moses Trustee 28 November 2023

Page 2

Continental Star Football Club

Independent Examiners Report

Independent Examiner's Report to the trustees of Continental Star Football Club

I report to the trustees on my examination of the accounts of Continental Star Football Club for the year ended 30 June 2022 which comprise the Statement of Financial Activities, the Balance Sheet, and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:

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.

S Brown FA BCA Pointon Young 33 Ludgate Hill Birmingham B3 1EH 28 November 2023

Page 3

Continental Star Football Club Statement of Financial Activities

Notes
Income and endowments
from:
Donations and legacies
2
Total
Expenditure on:
Charitable activities
3
Other
4
Total
Net gains on investments
Net income
5
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2022
£
72,925
Total funds
2022
£
72,925
72,925
31,982
3,005		 72,925
31,982
3,005
34,987
-		 34,987
-
37,938
-		 37,938
-
37,938 37,938
37,938
41,808		 37,938
41,808
79,746 79,746

Page 4

Continental Star Football Club Balance Sheet

at 30 June 2022

Charity No. 1107046

Charity No. 1107046
Fixed assets
Tangible assets
7
Current assets
Cash at bank and in hand
Net current assets
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
8
Unrestricted funds
General funds
8
Reserves
8
Total funds		 2022
£
994
994
78,752
78,752
78,752
79,746
79,746
79,746


79,746
79,746
79,746

Approved by the trustees on 07 October 2022

And signed on their behalf by:

……………………………………..

C. Moses Trustee 28 November 2023

Page 5

Continental Star Football Club Notes to the Accounts

for the year ended 30 June 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.

Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable, and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6

Continental Star Football Club Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short-term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 7

Continental Star Football Club

Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities, and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Income from donations and legacies

Charitable Income Unrestricted
£
72,925
72,925		 Total
2022
£
72,925
72,925

Page 8

Continental Star Football Club

Notes to the Accounts

Expenditure on charitable
activities
Club Costs
Volunteer Expenses
Project Management
Donations
Governance costs
4
Other expenditure
Travel Costs
Insurance
Accountancy fees
Repairs & Maintenance
Depreciation
General administrative costs
5
Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets
6
Staff costs
No employee received emoluments in excess of £60,000.
7
Tangible fixed assets
Cost
Cost B/fwd.
Additions
At 30 June 2022
Depreciation
Depreciation B/fwd.
Depreciation charge for the
year
At 30 June 2022
Net book values
At 30 June 2022		 Unrestricted
£
23,327
8,375
0
280
31,982
Unrestricted
£
140
1,064
749
750
46
256
3,005
2022
£
46
Total
2022
£
23,327
8,375
0
280
31,982
Total
2022
£
140
1,064
749
750
46
256
3,005
£
150
900
1,050
10
46
56
994

Page 9

Continental Star Football Club

Notes to the Accounts

8 Movement in funds

Restricted funds:
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds
9 Analysis of net assets between funds
Fixed assets
Net current assets
10 Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 July
2021
41,808
41,808		 Incoming
resources
(inc other
gains /
losses)
£
72,925

72,925
At 1 July
2021
£
41,668
41,668
41,668		 Resources
expended
£
(34,987)

(34,987)
Restricted
funds
£
994
78,752
79,746
Cash flows
£
37,084
37,084

37,084		 At 30 June
2022
£
79,746

79,746
Total
£
994
78,752

79,746
At 30 June
2022
£
78,752
78,752

78,752

Page 10

Continental Star Football Club Detailed Statement of Financial Activities

for the year ended 30 June 2020

Income and endowments from:
Donations and legacies
Charitable Income
Total income and endowments
Expenditure on:
Charitable activities
Club Costs
Volunteer Expenses
Project Management
Donations
Other expenditure
Travel Costs
Repairs & Maintenance
Insurance
Accountancy fees
Depreciation
Sundry expenses
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds

2022
£
72,925

72,925
72,925
23,327

8,375
0
280
31,982
140
750
1,064
749
46
256
3,005
34,967
-
37,938
41,808

79,746
37,938
37,938
-		 Total funds
2022
£
72,925
72,925
72,925
23,327
8,375
0
280
31,982
140
750
1,064
749
46
256
3,005
34,967
-
37,938
37,938
37,938
-
41,808
79,746

Page 11