Company registration number. 05322409 Charity registration number- 1107746 Website: www.oasportsclub.com OLD ALBANIAN SPORTS ASSOCIATION LIMITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 *AC)AOQ95* 27112r2023 COMPANIES HOUSE A15 125 OLO ALBANIAN SPORTS ASSOCIATION LIMITED CONTENTS Page Reference and Admlnlstrallve Inforniation Tru$tees' Report Independent Auditors. Report on the Financial Statements Consolldated Statement of Finan¢ial Activities 9-13 14 Con501idated Balance Sheet 15-16 Charity Balance Sheet Consolldated Staternent of Cash Flows 17-18 19 Notes lo the Financial Ststements 20-42 OLD ALBANIAN SPORTS ASSOCIATION Um￿E0 REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY FOR THE YEAR ENDED 31 MARCH 2023 Trustees N Hallel( Chaiman AJ PhilkY)tt. Secretary RC Milnes. Truslee ARP Mccree. Trustee CMA Hc#Jg8. Trustee DAE Bu￿On, Trustee ME Fisher, Trustee AM Philpott. Tru51ee D Hughes. Trustee PG Lipscomb. Trustee DR Goodier, Truslee Company registered number 05322409 Ch¥ty registration number. 1107746 Website: vAfvw.oasrK*tsdub.c4)m Page 1 OLD ALBANIAN SPORTS ASSOCIATION UMITED REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARifi {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Principal and registered office The Pavillion Wodlam PLAying Fidds Harpenden Road St Ajbans HertfcKdshire AL3 688 Independent auditors WMT 4 Bea¢L￿$field Road Sl Abans Hertfordshire AL1 3RD Bankers HSBC 31 Chequer Streel Sl ￿ban$ Hertfordshire AL1 3YN Ctydesdale Bank Verulam Point Station Way St Abans Hertfordshi AL1 SHE Solicitors Sherrards 4 Beaconsfield R¢)ad St ￿banS Hertfordshire AL13RD Page 2 OLD ALBANIAN SPORTS ASSOCIATION UMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The trustees present their report and the audited f￿ana81 statements for Ihe year ended 31 March 2023. This report is the D￿e￿or$. Re￿ required by s417 of the Compantes Act 2￿6. The finanoal ststements have been prepared in ac¢ordaft¢e with the accounting policies set out in the notes and ￿mplY ￿￿th the charitys Memorandum and Arts"¢les of Associats"on. applicable law and the requirements of Accounting and Rewjrting by Charities- Ststement of Recommended Practice applicable lo charities preparing their finanual ststements in accordance v￿th the Financial Reportbng Standard appI￿able in the UK and Republic of Ireland {Second Edition). Objective$ and activitie$ •. Objectives ol the tharity and activities for the public benefit The charity is a company limited by guarantee. The d￿ri￿S objects are.. - The promotion of community partiCipat￿n in healthy recreation in parb'cuLar by the provision of faalities for members of the public to engage in team sp￿ts. athletits. fithess training and other fomis of physical reueation. To advance the educaticrt of yxjng pefson's attending Scho￿$, colleges and universities in St Albans and the surrounding area by ensuring that due attenlion is 9rven to their physical development and to assist in the organisation and provision of faaliti.es which wll erta￿e and encDurage part￿"patiOft by such persons in ph￿Cal re￿atIOn and sport. In the interests of sou81 welfare to OTganise or provide facilities for ￿CreatIOn for person's resident in St Albans and surrounding areas who by reason of their youth or social and ecAMomic arcumstances have need of such faaltlies wilh Ihe obiect of improwThJ their conditions of life. The trustees confimi that they have referred to the guidance ￿￿ntaIned in the Charity Commission's general guidance on public benefrt when reviewing the aims and objectives and in planning activities. The principal actiwty of the charity in the year in order to further its c*)jectives was to provide high slandard faalities for the local comrnunity to parbcipale in sporbng activities. By the provision of Ihese high stsndard faalities. the Charity remains able to fulfil its objectives. Page 3 OLD ALBANIAN SPORTS ASSOCIATION UMITED TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDEO 31 MARCH 2023 Strategi¢ R8view a. Rovlew of Activltles The charity, which operates as "OA Sporf and ils th)Ily owned subsidiary. Old Abanian Sports Club Limited. own and operate modem fiehl sports facilities at Woolkams vthich opened in 2001. The charity provides pitches. training facilities, pavilion changing rooms. bar. catering and social areas for members and guests of the fdlowing affiliate(I dubs.. Old Albanian Rugby Foolball Ck*), {4%thich WK4udes the Ohl AJb8ni8n Mini and Jurmor RFC and Old Albanian Saints. ladies rugby> - Old Albanian Cricket Club Old Albanian Tennis Club Old Albanian Club - Local Adult Groups Wodlams is a150 the training base for Saracens RFC. The Trustees. are pleased to announce that this arrangement is in the process of being exiended through lo August 2025. Facilities are also provided lo other sports clubs and for represenlab.ve fixtures. The charity aims to provide plawng faul1￿eS to a high standard for playeTS of all abilities and theref￿e operates a continuous and comprehensive pmgramme of pitch maintenance and renovation. The pavilion and pitches are also hired lo third parbes for a range of bjsiness and swal fvnctions. The Charity plans lo conkn'nue with its aims and to generate annual cash surpluses lo faolitale an ongoing programme of major m8inlenance. The Trustees do not see any expansion in the range of objectives that pursues and intend io ensure that the faalty is used as much as is possible. They have also begun to examine different aVaila￿e slreams. to ensure that they can o)ntinue to make the facAlitie5 available to the lo￿1 community. The Chariws facilities a￿ much in demand due to their high stsndard and in the local area are regarded as the mosl impressive. The charity works har¢J lo maintsin the stsndard and to expand as much as possible the opportunities for use. having regard to maintenance requirements. The Truslees would ¢onsider that the charity meets its obl￿tiveS which is demonstrated by the large number of participanls that use the faulities throughout a normal week, approximately 2500 people, involved in both training. plaiing and SUPPCMtiro. The faolity. ha￿ng reathed capacity. is now managed by the Trustees for the long term with strong regard given to Ihe C￿going maintenance and refurbishment. This financial period has seen the ￿ntinUatIOn of a maior programme of repairs and mainlenan¢e_ The charity does not undertake any extemal lundrai&ng actiwt￿s with d0ftat￿ns being received from members. Page 4 OLD ALBANIAN SPORTS ASSOCIATION LIMITED TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Slrategic R•view (continued) Financial rèview a. Golng ¢on¢em After making appropriate enquiries, the Trustees have a reasonab￿ expectation that the charity has adequate sources lo continue in operational existence for the foreseeabk future. For this reason. they continue to adopt the goirrfJ concern basis in preparing the financial statements. The trustees are not aware of material uncertainties regarding going concem. Further detaits regarding the alloption of the going concem basis Can be found in the acccu)ting poliaes. b. Roser¥es policy 11 is the policy of the charity that unrestricled fvnds vthich have not been designated for a Specif￿ use shoukj be maintained al a level equivalent lo between three and six month's expenditure. The trusiees eonsider that reseNes at ttms level will ensure that. in the event of a significant drop in fun(Jing. they will be able to continue the charitys current activities while consideration is given to ways in whith addilional funds may be raised. This level of reserves has been maintsined throughout the period. c. Inv•stm•nt powers and policy UrKler the ￿em￿and￿m and Artides of Association, the charity has the p)wer to invest in any way Ihe trustees wish. d. Review of financial posilion The statement of financial actimties shows that resources expended exceeded incoming resources by £202.262 {2022.. £189.0281. Nel outgoing resources for the year before depreaation and loss on disposal of fixed assets amounted lo £33.515 {2022.. £9.233 nel incoming resour¢esl. The balan¢e sheet indi￿te$ that lotal funds of the group were £4.715.941 {2022'. £4.918.203) of which £nil were ￿$tricted funds 12022.. £nill. These were rep￿sented by tangible fixed assets of £4,669.97312022.. £4.774.34118nd other nel assets of £45.96812022-. £143,862). The funding of the charity comes principally from facility Charges and donations. In addition. the charity's wholly owned subsidiary, the Old Albanian Sports Club Limited, operates the commerual Iratling acb'vilies of the group at Woollams. These are based on hiring the Pavilion to third parties for a range of business and sccial fund"ons. The Charity has seen a year of recovery in ternis of trading after the Comd Pandemic and has managed to relum lo past levels of activity. The Trustees a￿ pleased lo see this but understand that there are long terms impacts of the pandemic which conb.nue to be seen wthin the Charitls operations. such as a reduction in bar and restaurant spending by those who use the facility. This has so far been offset by an increase in activity. Since the year end the tharity has eontinued Trmlh its activities and is exploring the possibility of expanding the sports that use the faality. They are also undertaking a thorough ￿VIeW of the charity's business activities lo ensure that all lac£ls of Ihe Operat￿n$ are efficient and can help move the charity for¥wdrd. Page 5 OLD ALBANI￿ SPORTS ASSOCIATION LIMITED TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 •. Risk factors The twstees have assessed the maior risks to thch the charity is exFosed. and are saiisfted that syElem5 are in ￿ace to mitigate exposure to the major risks. The Trustees consider ihal the primary risk lo 4thich the chwity is exposed is that of the building at the heart of the facility being unavailable due to an u￿xpected evènt. The TTUStees regard this eventualrty a5 Gritiral lo thg opeiation th* the charity undertakes and in (wder to miti.gate tho have a maintenance prcgramrne in ￿8¢e to ansure that the butldirvJ 15 well rnaintained and has adequate insurance to ensure that rf such an event OCCLSr$ the charity is well placed lo protect its position and minimise any TrmpaGt. rr* Trustees review the insuran¢$ each year to ensure that it is a¢Jequate. f. Ass•t to¥Èr fr>rfunds The notes $&t out an analysi5 of Ihe assets attrftjutabk to Ihe variou5 fvnds and a ¢Jescripthon of the bjnds. These a55ets are Sufficient to rneel the charitys otyigalK￿s on a fuThJ by fuThJ basis. Structuwe. governance and management . Trustees The trustees, who are also Ihe dweciors for Ihe pwpose of company I￿. who 5eNed durin9 the ￿8T were.. N HallÈt, ChaiTman AJ Philpott. Secretsry RC Milnes, Trustee ARP Mccree, Truslee CMA Hodge, Trustee DAE Buxton. Trustee ME Fisher. Trustee AM Philpott. Tfustèè D Hughes. Truslee PG Lipscomb, Trustee DR Goodier, Truste• The Trustees meèt #s a rL)mrnittee of management at quarterty intervab to ￿vieW ac*￿1￿$ and a financial port. None of the twuslee5 ha5 any benefiual interest in the c(￿panY. Al of thg tnkthes are mèm1￿$ of the company and guarantee to contribule £1 in the event of a windin9 UP. b. Appointment of trust￿9 As set out in the Awti¢les of Association the tDJ5tees. wh) form the Ccynmrttee of Manapmènt, are appointed 85 Idlows: - The Pre￿dent. Treasurer and Secretary of ts Ohj Aknnwn Club - Two persons nominated by the Committee ol the Okl Wbartrian Rugby Football Club - Oné ￿rsOn nominated by the Mana9efflenl Committee of the Old ￿banIan Cricket C￿b - Up to five persons norThnated by the Old Ajbanian Ch Page 6 OLD ALB￿lAN SPORTS ASSOCIATION LIMITED TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Structur*. govèmance and managgffl4nt (continued) ¢. Organisation The charity is governed by its memcffaThJum and arknC￿ of association dated 15 Novefnber 2(￿. The InJstees have control ol the tharily and rts propety and funds. The Charity has teen able to maintain its perfomTr8rth during the ￿ in ￿at is a Chalenging time for all charilj'es. The Operations Board charged with restM)nsibility for Ihe conducl of the charity's operations and Iding the Chief Execuiive Officer lo aCc￿￿nt, continues to be a su¢¢ess. Thts has Yesulied w7 a more locused management of Ihe Charity on 8 (Jay to day basis and a moviThJ fO￿ard in the Chariws perfLYmance. This Operations Board meets on a monthly basis arKI reports to the Comfflittee of Management ￿ a quarterfy basi$ al their regular mèetings. The Operatsons Board is also invdvèd in plannin9 lor the future and looking at the OppOrt￿lI1es lor the Charrty wh￿h il then rewts to the Tnjstees wlh 8kyopn"atÈ reeA)mmendations. d. Trnst•• induction and training New trUst￿S undergo an orienlalK)n programme to brief thern on their begal olligations under charity and ¢ompany law. the cwtent of the Mernorandum and Artides of Association. Ihe operation of the Committee of Management, decis￿ making processes. the business ￿an and recent finar￿￿oI perfom)ance of the charity. Ouring the induction, Iruslees meel key employees and other trustees. Trustees are encouraged to" attend propriate external training events ￿ere tlw will fai?lrt*e the undertaknng of their role. e. Management TernuneTation and trv5tee indernnÈty insurance The remunera)on ol key management is in lire ￿th t￿?1 markel cOndit*￿S aThJ is ￿vIeWed each ￿1. The arty has trustee indemnity insurance in place. t. Rèlated party relatlonshlps The Charitys whdly owned subswthary Okt ￿banIan SForts Cjub Limiied IOASCI was esiablished to operate the comMer￿al bar. r•slwrant and funcknn facil￿"&$. OASC donales its PTolhs to the Charty. g. Financial risk mana9gmvnt The Trustees have assessed the fflai￿ risks to whi¢* the Group aTrJ the charity are exposed. in particular those r•lat6d to the operati￿S and finances of Ihe Group and Ihe charrty. satisfred thal syst•ms and procedLhre5 are In Pla￿ lo mitigate exposure to the major rbsks. Plans forfuiur• ￿riOds The Trust•8s continue lo manage the faality to ensure that it is fil for purpose and are e￿(￿n9 its use by other sports and organisations. Over the next 12 months tl is enwsaged thai owb"nuing maintenance work5 wll be required to ensure Ihat the faolity 1$ fit for purpose They a￿ also fwjsed on ensLwing Ihat the revenue st￿3M$ rewired to fund Ihe tscility are monitored and new sowces thorougtrty exan¥ne(l. Page 7 OLD ALBANIAN SPORTS ASSOCIATION LIMITED TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Statémént of Trusto•$' r•$pon$ibilities The Trustees (who are also the dire¢tors of the tharity ftr Ihe kxjrwjses of compary Eaw) a￿ responsible for preparing Ihe Tnjstees. Reporl including the strateg￿ Report and the financial statements in accordance with applicable law and United KiNJdom AcctyJntJng Stsndards Iunited lthngdom Generally A¢¢epted A¢¢ounting Practieel Company law requires the Trustees lo prepwe ￿ar￿JaI slatements for each financial . Under company law, the Trustees must nol approve the finanual statements unless they are Satisfied Ihat they give a true and lair wew of the stalè of affairs of thè Group and the charty and of their incoming resourcès and 3ppEication of resources. induding their incom8 and èxpenditure, fix that period. In preparing these financial statements, the Twslees are lied lo. select suitable accounbrtsJ polrues and then appty them crmsistenty. obse(ve the met￿5 and principle5 of the Charities SORP IFRS 1021,. make judgment5 and accovnb"rMJ esb"mates that a￿ reasonable and prudent: state whether applicabb UK AcccKJnting Standards IFRS 1021 have been folbwed. subject lo any material departures di$￿en to audltors Each of the person5 who are Twstees at the ttrre Ihis TnJ5tee5' Repwl is approved has confirmed that.. so far as that TfU5tee is awa￿, there is no ￿￿Vant audtt rnfrKmation of whth the charitable companys audilor is Unavra￿. and that Truste? has taken all the 5tep5 that oughl lo have been laken a5 a Tntslee in order lo be aware of any r?l¢vant audit inforrnat￿n and to estsblish Ihat the charitable group's auditors are aware of that inform8tsDn. Small Company Exemption Advants9e has been taken of the exemptions available to smal companies under the Conwn*s A¢t 2006 in the preperation ol this report. App d by order ol thg members of the t¥)ard ofTfustees and signed their behalf by.. Ha •tt Chair of Trustees) Date.. Il•ll.l3 Page 8 OLD AL8AMIJN SPORTS ASSOCIATION LIMITED INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OLD AL8ANIAN SPORTS ASSOCIATION UMITED Oplnlon We have audited the finana statements of Oh banian Sports Association Limited Ilhe 'charitable companll for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial AC￿VityeS. the Consolidated Balance Sheet. Ihe Chawty Balants s￿￿, Consolidated Statement ol Cash Flows and the related notes, induding a Summary of swJnifKanl aco)unting policies. The rinancial reporting framew(yk that has been applieil in their preparat￿n is app[￿ble law and United Kingdom Accounting Standards. induding Finanrial Rewrbng Stsndard 102 The Financkal Reporting Standard applicable in the UK and RepuNic ol I￿land (uni￿ I￿n￿ Gener￿lY A￿pIed Ac￿U￿ting Practice). In our opinw the financial stalements". give a tnje and fair view of the state of Ihe ¢haritable group's and ol the parent companrfs affairs as at 31 March 2023 and of thè group's incoming resources and application of restyjrces, induding its income and expenditure for the year then ended. have been prq)erty prèpafad Mi accordarte *ilh United K￿￿Orn Generamy Accepted Accounb"ng Practice- an have been prepared in accordance the Wuifements of Ihe compan￿ Act 2CiKS and the Chantses Act2011. 8asls for opinion We condLKted our audit in accor(1ance Intemational Slandards ￿ Auditin9 IUKI IISAS {UKI} and applicable law. Our responsibililies under Ihose st￿￿ardS ale lurther described in Ihe Auditors. responsibililies lor the audil of Ihe financial ststemenls section of ￿Jr repcwt. We are independent of the charitable group and parent company in accordance with the èthical rnquifèmènts that are relevant to tyjr aLMfjit of the financial statements in the United Kingdom, including the Financial ReportirKJ Ctyjncil's Ethical Standaid, and w• havt lulfilled our othew ethical wesponsibilities In accordance wthh Ihese reqUI￿rr￿ents. We believe Ihal the audil ewdence we have oblaineij is sufficient and appropriate to provmje a bags our owion. Con¢lu$ions rolating to golng Colbcern In auditing the fmancial statements. we have conduded that ihe Tntstees. use ol Ihe 90ing COn￿M basis of accounting in the preparation of the financial ststements is approwiale. 8ased on the work we have perfonned, we have rtot ident(fied any malerial uncerlaintyes rebliThJ to events or ¢ondiiion5 that. inthvidually or colleclivety. may casl sHJnifunt doubt on the Group's or the parent charitsble companys abilily to continuè as a goiny concern for a perM)d of at ￿3St m¢￿1hS from vA)•n tl)è financial statements are authoiised for issue. Our responsibilrtiès and the responsibilknes of the TnJstees *ith respect to gcing concem are described in the levant section5 of this lep(￿(. Page 9 OLD ALBANI)J4 SPORTS ASSOCIATION LIPAITED INDEPENOENT AUDITORS. REPORT TO THE MEMBERS OF OLD ALBANIAN SPORTS ASSOCIATION LIMITED ICONTIPIUEOI Oth•r Infomiatlon The olhèr inlomiation comprises the inlomiation induded in the Annual Report other Ihan Ihe financial statements and our Auditots, Report thereon. The Trustees are responsib￿ for Ihe tsther information contained within Ihe Annual Rewrt. Our opinion on the finarKial slatements does r￿t Cybver Ihe other inlomation and. except to the extent otherwise explicitly stated in TrJr reFrf we do not express any fomi of assurance conclusion theieon. Our resFK*nsibility ￿ to rea¢J the olher rnfrymats.on and, in doing so. consider whether the other information is materially inconsislenl wtth the fin8nGial statements or our knovAedge obts￿ed in the covrse ol ihe audit. or otheThyi5e 8ppeaTS to be maierially rnis5tated. IF we •Jentify such material inconsistencies or apparent malerial misstaternents, w• required to detemintr whethw trlls gives ri58 to a matèri31 misstatement in the finanaal statèmènts themselves. If. based on thé work havè perfomed. ￿ condude Ihat the￿ is a rnateftal misstatement of this other inltsrmab"on. ￿ are requireo to rewmt that fact. We have nothing k* report in this regard. Opinions on other mattors as pr•s¢ribod by the Companies Acl 21106 In our ryinion. based on the work undertaken in the CL¥J￿e of aLth'. thè InfomatKJn given in Ihe trustèes, rep(%t. in(*Jdes thè th"rectors' rèptsrt prépared for company law purposes, for the financial ypaT for whith the fir￿￿la1 slateThnts are prepared is consi5tentwith the financial statements- and the directo￿. report inclu(led within the lfttst￿. reF#Nt has beth preparÈd rn ac(XXda￿ applicable legal rèquir¢m&nt$. Opinion on othttr matt•ts prescribed by the Companles Act 2006 In O￿nion, based on the work undertaken in the eAxJrse af the au¢thl: the inlorrnab.on given in the Tnjslees. Report including Ihe Strategic Report lor the financial year for which the ffinanGial statements are prepared is cDnsistent with the finanual stalements. the Trust885' Rep(xl and the Strategic Rep￿ ha￿ been wepared in acwrdance wilh ap￿1¢Able legal requirements. Page 10 OLD AL8W41AN SPORTS ASSOCIATION LIIAITED INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OLD ALBANIAN SPORTS ASSOCIATION LIMITED ICONTINUEO) Matters on which we are requlred to ￿pOrt by exception In the light of thè knO￿tI￿je and undefstanding ol the ¢haritsbk group and parent company and its environment obtained in the course of Ihe audil have rwjt idenlified material misststements in the lrnstÈe5' report. We have notling to rèp￿1 in iespect of the fotkn¥iTh3 matters in relabon to thg Compan￿$ Act 2006 requires us to reFWt to you rf. in our oynion.. adequate acC￿￿ting records have Thjt been kept. or retums *uate for our audié have not been received from bfanches not wsited by us." or the financial statements are not in agreement vnlh the accy)untry recwd5 an(1 retums.. or cèrtsin disclosures ol Irustees. rernuneratKJn specifie(I by law are not made.. or WÈ havè not ￿ceiVed 811 the infomwtion and expLqnatk)ns we requi￿ for our audit: Ihe tru51ees' were nol ents"￿e￿ to take advantage of thè small CoMpan￿s, exemptions in preparing the truslees, iepw)rt and from Iha requiremenl Io ptepare a Strategi¢ report Responsibililies of trustees As expiqined rn￿e fully in Ihe Trustees. RespowbAities Stalement, the Trusiees IW￿ are also the direclofs of the charitable company lor the purposes of company lawl are iesponsible for the preparab.on of th8 fillanaal statements and lor being satisfied that they give a true and fair view. and for such internal control 85 the Trustees Oelefftine is necessary to en8￿e the prepara11￿ ol f￿anCIal stslemerbts thal afe free fTom malerial misststemenl. whether due to fraud or error. In preparing the financial statements. the Trustees are responSi￿e for assessirKJ Ihe wp's and the parent charills ability to conts.nue as a g(Hng conwn. disclosiNJ, as #p￿Icable, matters relaied to gtyng concom and using the going concem basis of acctyJnb"ng unless the Trustees erther intend to Iwidate the group OT the parent charity or to cease WeratI￿$. or have no re8lists"c aiiemattve bjt to do so. Pa￿11 OLD ALBANIAN SPORTS ASSOCIATION UMITED INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OLD ALBANIAN SPORTS ASSOCIATIOM LIMITEO ICONTINUEOI Auql•tors' responsibilliles for the audtt olthè fmanclal statemeTrts Our objectives a￿ to obtsin reasonable assurance at￿ wthether the financial statements as a whole are free fTOrn material misstatement, whether due to fraud or error. and to issue an Auditors, Report that indudes our opinion, Reasonable assurance is a hyh level of assurance. but 15 not a guarantee that an audit COr￿uc1ed in accordance with ISAS IUKI will alway5 detect a material misslatement when it exists. Misstatements can arise from fraud or error and are cons¢dered maten31 Jl. or in the aggregaie, W could ￿asonabty be expected to influ8nce the ecc*KJmic decigons of users laken on the basis of these financial statements. ITregularibes. induding fraud. afe Instan￿ of n0nblilies for COM￿￿Trg *ilh the requirernents of the Act respect to acthJntiThJ records and preparatiC￿ offin￿￿ statements. The financial statements have been Fryyared in a¢ttffdan¢¢ the wovisions applicable to entth.es subject to the 5m811 companies regirne. The financial statemenls were approved and authorised for issue by the Trustees and signad oft their behalt by.. lètt hairman Date.. xi 12.13 The notes on pages 20 to 42 form part of Ihese finanaal statements. Page 16 OLD ALBANIAN SPORTS ASSOCIATION LIMITED REGISTERED NUMBER.. 05322409 CHARITY BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Notè Fixad a$s•ts Tangible asseis Investments 14 4.669,973 4.774,341 15 4.669.975 4.774,343 Current assets Debtors 17 810,180 130,456 731.356 163.699 Cash at bank and in hand 940.636 895.055 Credilors.. amounls faling due ￿thin one ye 18 1158,657) (137,348J Net curront asset5 781.979 757,707 Total ass•ts l•ss current liabllltles SA51.954 5,532,050 5,451.954 5.532,050 Total nat ass•ts 5A51.954 5,532,050 Page 17 OLD ALBANIAN SPORTS ASSOCIATION UMITED REGISTERED NUMBER.. OS322409 CHARITY BALANCE SHEET (CONTINUED) AS AT 31 IAARCH 2023 2023 2022 Not• Charity funds Restricted funds 19 Unrestricled fijnds 19 5.451,954 5,532.050 Total funds 5.451.954 5,532,050 The Trustees acknowledge Iheir resFX)nsibililie5 for wth the rtquinmnts of Act wilh respect to accounting re￿r￿S and pr8parat￿n crffinancial statements. The financial statemenls hav$ been p￿pared in ac£x)rdance wrth the provisiorts apph'cable lo enb"b"e$ subject to the small companies regirne. The finana81 statements were approved and aUlI￿lsed for issue by the Trustees and svJned on thèw b8half by. Hallett hariman D818: li-11-23 The notes on pages 20 to 42 form part of these finanoal ststements. Page 18 OLD ALBANIAN SPORTS ASSOCIATION UMITED CONSOUDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash flow$ fr¢m op•rating aclivitse Net cash used In operating aclivib.es 32.384 121.204 Cash Ilews from Investlng aetivliies Purchase of tsngibte frxed assets Inveslm8nl inwme (74.928) {11,906) Het cash used ifi investlng aeli¥iiws {74,7201 111.900) Change In eash and cash *qulvalents In th• ￿ar Cash and cash equvalents at the beginning oflhe year 142.3361 220,141 109,304 110,837 Cash and cash •qUival￿ts at th• end ofth• y￿r 177,805 220. 141 The noles on pa9es 20 k) 42 fomi part olthese finaNyal 51atements Page 19 OLD ALBW41AN SPORTS ASSOCIATION UMrrED NOTES TO THE FINANCIAL STATEAIEMTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting polScl•s 1.1 Basis of preparation of finan¢ial statements The Association meets the d•finilw of a b￿errt entity Lmder FRS 102. Thè financial statements have been prepareil L¢nder the historical ¢#)sl ¢onvenlion. in accordance with the Statement of Recommended Pracb"ce". Accwnting aThl Reporttng by Charities preparing their linancial statemènts in accordance with Ihe Financial Reporting StsrKlar¢J aP￿Icable in the United KirwJdom and the Republie of Ireland IFRS 102) {SocorK1 Edtts.￿). the Companie5 Act 2006 and UK Generally Accepted Praclice_ preparat￿ of financial statements in compliarts wrth the SORP requires monagtrnent tr> makè m￿jg￿ents. estimates and assumptN)n5 thal affect Ihe amounts reported for assets and liabilities as al the balance sheel date and the amounts reported for revenues and expenses during the year. The natuie ol estimation means thè actual outcomes couhl differ from thosè estimates. There were no material estwnalions necessary otherthan thè deusi(M) on depwètK)n r8te$. Ojd Abanian Spcrts ASS￿181￿)￿ Limrted meets the defirulicm of a benefft entty under FRS 102. Assets and I￿a￿ll[leS are inilially rwnised at listcrfical rxjst or transth value unless othemse slated in the relerdnl ac¢ounling pO￿¢y. The financial slatement5 are prepared in sIerfw￿ 85 th81 15 ihe fvnctional c￿rrencY of the charity and its subsid1￿. The Group has taken advantage of Ihe exempti￿ alkmfed urKJer section 408 of the C¢)mpanies Act 2006 and has not presented its own Statemenl of Financ4al Activit￿S in these financial statements. 12 Golng concern Thè trustees are not aware of m*rial uncertwnlie5 warding concem. The Truslees have ConS￿ered the effeci on the value ol the assets and l*abilib"es ol the Charity since the balance sheet ¢Jate. as well as actual and expected luiure income and expenditure, cash flow requiretnents the Chariws ab￿lty to continue as a ￿ng wncem. Steps have been taken to protecl the workforce and the business so as to be able lo mainlaMI lffjuidity 9i¥en that the effecls of the crisis are ongoing. 1.3 8a$is of consolidation These finanaal statements C(￿s(l￿131t Ihè rnsults of the ehaw and rts W￿lY owrhÈd subsidiary Okl ban￿an Sports Club Lirnited on a line by lire ba￿$. A sèpaiatè statemenl of financial activitie5 and income and expendrture account are not p￿Sented for the chanty itsell following thè gxemptions afforded by Ihe Companies Act 2006. The subydkary has been a¢¢ounted for as an invèstment in the ¢hariW$ (Mn tra￿(￿ shèel an¢J is hdd under fixed 8s5ets. Page 20 OLD ALBANIAN SPORTS ASSOCIATION LIAIITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 A¢counting policl•s (continu 1.4 In¢om¢ All income is recognised once the charity has entitlement to the income. it is probable that the incomè will te rece￿￿ and the am(xJnt ol Hicome réceNab￿ can bè m8asured r81iably. AJI incom8 is gro55 Wlthout d￿u¢ll0n for rekgled expnthture. The following pOl￿￿S are applied to particular categories of irthne". - Voluntary income is receNed t)y way ol donal1￿5 arKJ and is indu¢Jed in ￿11 in the Statement of Finaneial aeliwbes when receivat￿e. - Inveslment income is rnduded vthen receivable. . Inwffling res￿rceS from charitable Irading adNrbes afe arxounted lor when earned. Restricted income is recorded in the SOFA when receivabl•. 1.$ Gov¢mm*nt grants Governmenl grants of a revenue nature are credited to the cCfflso￿dat￿I St*ement of Finanual Activities as th8 related &xpendilure 1$ irKyJrred. 1.6 Expenditure Expenditure is recognised once the￿ i8 a legal or (xjnslructive obligaiion lo transfer economi benefit to a third paty, il is probab￿ 1h* a Iransfer of e¢x)nomi¢ beneffts will be required in strWemen¢ and the amounl of the can be measured reliably. Expendilure is classffjied by activity. The costs of each acimty are made up ol the lotal of direcl costs and shared costs. induding support costs involved in undertaking eath aclivity. Direci ttjsts attribtjtable to 8 Stngle activity are allocated dirèctly to that %b"vrty. Shared cosis ¥vhich rA)nth"bute to more than one acti and support cosls which are not attributsb18 to a single aclivty are ap[￿rt￿)ned between Ihose 8¢tivities on a basis consistent with the of restyJrces. Central slaff costs are allctated on the basis of tirne spent. and depreciat￿7 charges alkxated on Ihe pOrt￿n of the assei's ijse. Exkxndi¢ure on raislng fvJnd5 indude5 all expendilwe incurred ty ts Group to false fuThls for ils charilable purrx)w and i￿L￿S costs of all fijndraising ac11v￿eS events and rth-chatitablè trading. EXpendrtU￿ is ￿¢09ntsed an actruals basi% as liabilti*s we irurod. All expeTrth'(ure is nel of VAT. - Charitable eXP￿d￿ule comprised ttxjsè cx>sts incurred by the tharity in the delivery of its acfivities and sèrvi(*s for its bene￿claries. It indude5 both cosls that can be allocèled directly to such acty'vities and those costs of an indwect rtature n￿SSary to SLY￿1 them. . Govemance costs indude those costs a550ciated with meeting the constitL1t￿N)al and statutory requirernents of the charity and fftdude the a￿JIt feès atx1 ¢0sts link8d to Ihè Strdtegic management ol the Charity. I costs are allocaie(t be￿en the eypenditure categ(￿ of the Statement ol Finèntial Acthvifies on a basis designed lo reflect the use of the re5rwrce. Page 21 OLO ALBANIAN SPORTS ASSOCIATION LIIAITED NOTES TO THE FINAJICIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 countlng polb¢i*s lconiinued) 1.7 Tangible fix￿ as$¢ts and depre¢iati All expènditLre on iaThJibte fixed assets is caimlalised. Tangible fixed assets other than freehold land are stated at eosi ￿$S dewec4ation. Depreciation is charw to the SOFA to write off li￿ cost les$ eslimated r8sidLbal value of each asset ovèr its exptrcted useftjl Itfe. DepreaatKJn is provided on Ihe folbwing base5: Long-lemi leasewd property - Plani and machinery - &20 years Fixtures and fittings - 20% re(luciNJ balance Other fixed assets - 20% reduu'ThJ balance 1.8 In¥￿1￿7•AlS Fixed assel imiesbnents are a form of finan¢i* instsuffwt and are inrfialty ￿gnised at their transactw)n cost and subsequenity ffeasured at fa￿Value at the Balance Sheet date. Investments in gJbg"diawies ar• vahjed al cost less provisity) lor impainent. 1.9 Stocks Stocks afe stated at the lower of cost aThJ sellirKJ pricè ￿$5 costs Io CC*nF4ete and sell. Cost ts tjased on Ihe cosl of purcha$& ￿ a fi￿1 ￿. basB. 1.10 Debtors Short temi deblors are m8asur8d at tran￿tion wi￿. 1$ss ￿ Thpairrnent h)sses. 1.11 Cash at bank and In hand Cash and cash equivalents compn.se cash al ba￿ arKS n hand and demand deposls with banks. 1.12 Liabilitios S￿rt term creditors are measured at Ihe Iransaclitin pric*. 1.13 Financial inslruments The Charily onty enlers into basi¢ financial inslruments trartsadThs that result in Ihe reccgnttron of finan¢ial a￿ts an¢J katiihties suth a5 deblor5 ￿etht￿. Financial instruments aTè inthfy mèasured at transacbon va]ue. They are assessed al the end of each ceporting ￿riod for obiectsve evidence of impalm￿nI. 11 objective evidence of impairment lound, an impairment loss ts recognised in the SOFA. Page 22 OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollci•s Icontinu•dl 1.14 Pènslons Defined contribution penslon plan The Charity operates a defined contributson plan for ils •m￿oyees. A defined contrbbution pL4n is a pènsion plan under which the Charity paF fixed contributions intr) a 5eparatg gntity. on￿ the cortlribut￿ns have been paKI the Charity has rK¢ fvrther payment otyigations. The contributions a￿ recognised as an expense in ihe Slalement of C¢)rnprÈhenstve In(xJme when thèy fall duè. Amounts nol paid are shown in accwals as a liab￿rtY irt the Balanr* Sheet_ The assets ofthe are held separalely from the Ch￿ty in independently administered funds. 1.15 Fund accounting General fvnds are unreslricled fijnds which are avaiL9￿e for use at Ihe disuetion of the Trustees in fvrtherance of the general objectives ol the tharTrty and have not b#8n designated lor oth purposes. Restrided lunds are lunds whth are to be useLI n acc#ydance Spear￿ restrictions imposed by donors OT whith have been raised ￿ partKular purF*Jses. The aim and use of restn.cted fund is set oul in Ihe rKJtes to the financial statemenis. Page 23 OLD ALBANIAN SPORTS A%80c￿TIoN LIMITED OTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Movement In total funds in the year UnTe5tricted funds 2023 Tatal funds 2023 Oepreciation E￿&Mal audit and ac¢ounlS 179,707 15.( 179.707 15.000 Net outgthng resour¢ey f¢X the year beftye depre¢iatKffl aMO￿ted lo £33.515. Total runds 2022 funds 2022 Depreckatic External audtt and acc4)Ltnts 179,795 14.800 179,795 14,800 Net outgoing resources the prk)r ypar t)efore depreuab.on ar￿Urted to £9.233. Flnanclal actlvltles of the ¢haTIty The financial activibes shown in the consolidated slatemenl inth¢Jes those of Ihe ¢harlVs whdty owned subsidiary, Old Albanian Sports Club Limrtèd. A wmmary ofthe finanaal acth.¥￿e5 undertaken tythe charity is set ujt bekn¥'. Unrestricted Restricted fvnds funds 2023 X123 2023 Gross incoffling resources Total expendittire on ¢*aritslJe acts￿eS Gov8man¢e wsts 439.104 {504.1971 (15.C(M)I 27.053 466,157 (27,0531 {$312501 (15.0001 {80.0931 {80.093) Page 24 OLD ￿BANIAN SPORTS A£socfATION LIIIITED NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR eNDEO 31 MARCH 2023 Unrnstrict•d R•slricl8d funds funds 2022 2022 Total fvrrd$ 2022 Gloss incoming resourr£s Total èxpèr￿ltUf• on ¢hawrtallo ath"viti8s Governance CA)sts 331,316 (457.985J (14.800J 19,194 (19. 194) 350,510 (4T7.179) (14.800) (141.469) (141.469) Total funds brought fomar Total funds caFried forw8rd 5,532.050 5,451.957 5,532,050 SNS1.957 Repres•nt•d ty.. Unrestricted income funds 5.451,957 S.4S1.957 In¢oming resources frorn activi￿ for generatrng f￿d$ The wholy owned tradwwj subsidkary Old Ajbarman SrA)rts Club kn"mited IOASC). whith is inccwated in the United Krydom. donates all ol its proffts to thartty. OASC operates the bar and restauranl and all commei¢ial trading operat￿9 carried on at the premises. The charity owns the entire issued share cawlal of 2 ordinary Sh￿ of £1 eaGh. A summary of Ihe trading iesults is shown below. Unrestrlct•d lund5 2023 2023 Tumover Cost of sales & administration ￿$ts Other operating income 562.592 562,592 1684.7601 1684,7601 1122,1681 {122.1681 Page 25 OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted fvnds 2022 Total funds 2022 Tumover Cost of sales & at1ministra1￿ costs Other operaling income 448,255 (541.949) 46. 135 448.255 (541.949) 46, 135 (47,559) (47,559) Unrestricted funds 2023 2023 Th• a$s0ts and liabilitios of th• Subsidiary wgr•- Current assèts Current liatilitie5 92.254 92.254 1828.2671 1828,26n (736.0131 1736,0131 Unreslncled fvnds 2022 Total funds 2022 Current assets Currenl liabiliDes 89.780 (703.625) 89,780 (703,625) {613.845) [613,845) Page 26 OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 MARCH 2023 Ineome from donatlon$ and l¢gaeits ilnrestrkted Restrlcted fvnd5 lunds 2023 2023 Total funds 2023 Donations and gifts 28.264 27.053 55.317 Unrest17cled Restr￿0 funds funds 2022 2022 Tot81 funds 2022 Donal¢ons and grfls 10,000 19, 194 29, 194 Included in dcmations are am¢JJnts rnstricled purposes t(rtallnig £26.97312022'. £18,S04) for rugby and £80 12022". £6901 for Cricket. Govemment grnnts are amounls received uThJer the BiJ5ine55 Support Scheme. Income from charllabkn arfivilies UnfeStiicte(I funds 2023 Total funds 2023 Facility charges and lent 348.534 348,534 UnrestlFcl8d funds 2022 Total hJnds 2022 Facility charges and rent 318.312 318,312 Page 27 OLD ALBANIAN SPORTS ASSOCIATION LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENOED 31 MARCH 2023 Ineom• from other tradlng actl¥lties Income from non ¢haritalAe trading •¢t1vi￿$ Unrnstricted funds 2023 Tot41 funds 2023 Commercial trading 562.612 562,612 Unrestncled ftmds 2022 Tol*l lunds 2022 Commefaal trading 448.255 448.255 Oth•r incomlng resour￿5 Unrestrlcted lunds 2023 Total funds 2023 Othèr op•rah"n9 income Other income 33 33 62.045 62.045 62.078 62.078 Unrestri¢led funds 2022 Tol41 funds 2022 Other operating incc Other income 46,133 46, 133 49. 133 49.133 In¢lu¢Jed in (Xher operat￿g income are amounts under the govemment Coronavirus Job Retention Scheme aThKJunting to £nil {2022." £22,083). Page 28 OLD ALBANIAN SPORTS ￿￿oCIATION LIMITED NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENOED 31 MARCH 2023 Support C05ts The a¢tivilies ol the charitable grwp are or9anised such Ihat its sthdory. OASC. un¢Jertakes all the commercial Irading opernlions. The supp(xt costs of OASC art hencè all directty alkxaled to CommercAal Ifading cosis. The suppwt costs of thÈ thartty are directty albcated pnrnarHy to tharitsNe eypenditure. Advert￿1n9 and promotion costs have been alk)caled to Fun¢Jraising costs and Govemance costs has been allocated bewn expeThJ¥tufe on a p￿ra4 bags. The charity undertakes direct charitable activths onty and does nol make grant payments. 10. Analysis Of tMpendttur* M ¢haritslrte activities Summary by fund type funds 2023 Total 2023 2023 General charity fund5 Rugby fund Crickel fvnd 514.420 514.420 26.973 80 26.973 514.420 27,053 $41.473 Unresliictad lunds 2022 RostfiCt&d funds 2022 Total 2022 General charity funds Rugby luThJ Crickel fund 442,742 442.742 37,008 1.380 37,￿8 1.380 442,742 38,388 481. 130 Page 29 OLD ALBANIAN SPORTS A8￿cIATIoN LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. An4lysSs of expenditure ¢)n ¢h¥ilab￿ actltthles {coDlinuedl Summary by •xp•nditur• type Slaff eosts Depreciation Other costs 2023 2023 2023 Total 2023 General charity funds Rugby lund Crid(et fund 17.841 179.707 316.872 26.973 514.420 21973 17.841 179.707 343,925 541.473 Staff costs Depreciat￿n Other costs 2022 2022 2022 Total 2Q22 General thartyfunds Rugby lurwj Cricket lund 6,284 179.795 256,663 3T.008 442, 742 37.￿8 1.380 &284 179.795 295.051 481, 130 11. Total r•sourc•s •xp•nd•d Unr•strict•d R•stric¢•d fvnd$ fvnd$ 2023 2rJ23 Totsl funds 2023 Charitable expendi￿1*. Wages and salaries Buildir¥J expenses D8pr6ciation Pitch tyeparation and maintenance BuildityJ maintenance and repairs Légal and professional General management 17.841 70,149 179.707 52.086 61.910 14,998 117.727 17.841 70,149 179,707 79,139 61.910 14.998 117.727 27.053 514.418 27.053 541.471 Page 30 OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEthIENTS FOR THE YEAR ENDED 31 MARCH 2023 Unreslricted ffunds 2022 Restricted fvnds 2022 Tot81 funds 2022 Wages and salalies Building expense5 Depreciation Pitch Pfèpèralitin and maintènaneè Buildin9 maintenan¢e arKI repaiws Legal and prof¢s￿(￿l General manag¢msni 6.284 54,942 179,795 82.698 51,068 9.539 77.610 6,284 54.942 179, 795 101,892 51,068 9.539 77,610 19.194 461.936 19, 194 487. 130 Induded in piich rKepar*itin and maintenance are arnounts lor restri¢ied pury)oses totsuing £26.973 12022." £18.5041 for ru9by and £8012022.. £6901 for ￿￿ket. Unr¢str5¢t¢d fvnds 2023 Total funds 2023 Oth•r tradFng ¢o$ts- Cost of sales W8ge$ and salaries Bulding expenses Adminislration costs 270.228 313.823 66.079 39.407 270,228 313,823 66.079 39.407 689,537 689,537 Unrn*ri¢led funds 2022 To181 funds 2022 Cost of s8les Wages and salaries Buikling expenses Administration costs 181,964 306.953 20.718 43.163 181,964 306.953 20, 718 43,163 552.796 552,798 Page 31 OLD ALBANI￿ SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 P4ARCH 2023 Unrtsknctsd nds 2023 Total fvnd$ 2023 Governance costs: Audii fees 10.750 4.250 10.750 4.250 A¢countsn¢y fees 15.000 15.000 Goveman¢e costs are abstybed ￿t0 tharilable expe￿Il￿Jre under general management aThJ trading costs under administrabon ￿Sts. Unrestiicted fvnds 2022 Total funds 2022 Audit fees ¢ountartcyfee$ 10,600 4.200 10.600 4.200 14.800 14,800 12. Staff eo$ts oup 2023 Company 2023 Company 2022 2022 Wages and salaries Social security costs Contribution to defined Conthknilion penswji schemes 272.071 19.621 17.841 6.284 16,747 10.461 4.639 331.664 296.331 17.a41 6,284 Page 32 OLD ALBWIIAN SPORTS ASSOCIATION LIIAITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. Staff costs {contlnuedl The avgrage n￿￿er of persons employed by Ihe charity during the was as fr￿10￿s: Group 2023 Gmup 2022 14umber of employees (Groupl Sales and serV￿e$ Management and adn¥ni5tralic 27 22 28 The nurnbei of ernploypes **M)se empk¢yae benefrts lexdudir*J employer pensk)n CA)sts) exceeded £60.000 was= Group 2023 Mo. Gmtsp 2022 No. In the band £60.001 - £70.000 Al employees were emplos*d by the ￿banIan Sports Club Lnnlied d￿n9 th• year. Recharges of staff costs were made lo the chacity as debaled in the notes. Sales and servti staff we 41 employed on a part lime basis. The numbers above reflecl the aclual number of emplpyee5 rather tt￿￿ being prepwed on fijl twne equivaknt basls. KÈY management personal include l*rth Staff mèmbèrs {2022.. two). ￿1th remuneration totslling £82,389 12022 £124.6141. 13. Tru$tees' remuneratlon and ¢xpenses During the year. rK* Trustees received any ￿M￿eratIOn LY olher benefils12022- £NIL). During lh¢ year ended 31 March X)23. no Truslee expenses have teen ir￿l￿e￿ (2022- £NILJ. Related Pafty tTan&idions disd0s￿ in 27. Page 33 OLD AL8ANIAN SPORTS ASSOCIATION LIIIJITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOEO 31 MARCH 2023 14. Tangible fixed assets Gtoup and Comp•ny Long4ewm leasehold Plant and Fixtuwes and Other fixed property machinery ffttings assets Total Cost or valualion Al 1 April 2022 Addition5 Di¥)osal$ 7,171.666 5T6.785 17,445 {914} 14.606 6,532,903 74.928 17.1091 50.883 {6.195) At 31 Marth 20fJ 7.878.266 114,534 593,316 14.606 8.600.722 Depre¢Satlon At 1 April 2022 Charge for Ihe year On disposals 3,185.870 157.365 54.309 6.249 {6.6841 514,721 14.466 1835) 3.662 1.627 3,758,S62 179,707 17.5191 Al 31 March 2023 3.343,235 $3174 $28,352 5289 3.930,750 Mèt book value At 31 March 2023 4.53*1131 .317 4.669.972 At 31 March 2022 4.685.796 15.537 62.064 10,944 4.774,341 Page 34 OLD ALBANIAN SPORTS ASSOCIATION UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2923 15. Fixed ass•t Invèst Investments subsidiary companies charity Cost or valuation At 1 April 2022 At 31 March 2023 Net book value At 31 March 2023 Af 31 IAarch 2022 The tradlng sub5Kliary is wholly owned by the chawity oper*es Ihe bar and restaurant facilities. The subsidiary made a kjss during thè year which has been ￿taIned in the subs¥Jiary due to aggregated negative funds. The subsidK4ry has bÈen valued in the finanoal ststements at the Original nominal value. Principal subsidiaries The following was a Subsd￿ry undertakirnJ of the Chanty". Name Company Registered office or prhlclpal Prlnclpal activity mimber plaee of busin•ss Old Albanian Sports aub Liniied 05302306 ErnJlarnl aTrJ Wa Bar and restaurant trnding ath"vitse$ ol the Old Albanian S[￿s Associalion Limited Class of sharès Holthg Ineluded CO￿OI1datI0n Ordinary 1[￿ Yes Page 35 OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENOEO 31 MARCH 2023 15. Flxtd asset invesimwts {eontlnu•d} The finan(ial ffjsuKs ofthe subsKJiary kn Ihe year were: Name Income Expendilure ProfiVILDssl I Surplusl IOefi¢ill for year Old ￿bantran SrA)rts Club Limited 562.592 1684.7601 11211681 Nel assets I ILiabiliti•$) 1736.0131 16. Stocks Group 2023 Group 2022 Finished goc¥ls and goods lor resa 15.950 8,895 17. Debtors Group 2023 Group C¢)mpany 2022 2023 Company 2022 Due Tthin one year Trade debtors Amounts owed bygrwp underlaknngs Other deblors Prepa￿ents and acuued income 86.726 25.213 764.323 9.676 1Q.968 69.595 641.331 12. 185 8,245 9.833 10.970 f9.007 8.245 67,748 113.978 810.180 731.356 mounts owed by group undertakings have no fi¥ed repayynent tern￿. Page 36 OLO ALBANIAN SPORTS ASSOCIATIOII UPalTED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IIIARCH 2023 18. Creditors: kniounts falling due wilhln one yeaT Company 2023 Company 2022 2023 2022 Bank overdrafts Trade creditors Other taxation and soc4al seujrity Other Creditors 437 70.646 64,595 43.582 26.226 64. 749 43.653 40388 242 39,679 32,678 242 30,118 74.475 Acc[u￿S and deferred income 74,474 64.749 21S.972 199, 152 1S8.6S7 137.348 Induded in 8¢wuals and deferrtd inwne ts £18.500 (2022.. £18,5tTr)J attn"buted lo delerred in¢ome. Page 37 OLD ALBANIAN SPORTS ASSOCIATION LmllTED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 19. Statement of funds Stattrment Of fund$ - ¢urr•nt y Balance at 31 March 2023 Balance zi I April 2022 Incom• Expenditure Unrestrlcted fun(ts G8ner81 Funds- all funds 4.911.203 1.IJ01.696 11,203,958) 4.715.941 R•strict•d funds Rugby fund Cricket fund 26.9n {26.9731 1801 27.053 127,0531 Total of lunds 4,918.203 1,028,749 {1.231,0111 4,715,941 Page 38 OLD ALBANIAN SPORTS ASSOCIATION LfllTED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 19. Statement of funds (contlnued) ststtment offunds - prior year Balance at 31 March 2022 Balanc8 at 1 Awil 2021 Income Expenditure Unre$tri¢t•d fund$ General Funds 5.107.231 825,706 {1.014.734) 4,918.203 Restrict•d fund5 Rugby lurKI Cricket fund 18.504 f18,504) f690) 19, 194 (19. 194) Totsl tst fufbds &107.231 844,91KI (I.Q33,928) 4,918,203 20. Svmmary of fvnds Summary ot funds- ¢urr•nt y4ar Balance al 31 March 2023 Balance at 1 April 2022 Inmffle Expenditure Genernl lunds Restriued funds 4.918203 1,1)01,696 {1.203.9581 4.715,941 27,053 {27.0531 4,918,203 1.028.749 11,231.0111 4,715,941 Page 39 OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 20. Sulnmary of lund5 {conlinugd) Summary offund$- prlor y•¥ Balance at 31 March 2022 Balance at l ApiTI 2021 In¢oms Expgndituro General lund5 Restricttrd funds 4 107.231 825.706 (1.014,734) 4.918,203 19. 194 (19.194) 5, 107.231 844.900 (1.033,928) 4.918.203 21. Analysi5 of net assets belween funds Analysis of n•t a￿ts betw••n funds- cuTh•nt year Unre$tricted funds 2023 Total funds 2023 Tangible fixed assets Cu￿ent assets Creditors due within rMe JEar 4,669.973 261.939 1215.9721 4,669,973 261.939 1215.9721 Total 4.715,941 4,715,941 In the prior )*8r net assets all unrestrKteO. Page 40 OLD ALBANIAN SPORTS ASSOCIATION UIIJITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 22. Reconciliation of Mt mov•m•nt funds to net cash flow fr¢)m 0￿1Th9 activttles Group 2023 Group 2022 Net expendiiure lor the year {as per Stsiemert d Pinanoal A¢tMb"es) 1202.262) f189,028) Adjuslm•nt$ for. Depreciation on equtpment Investment income Ilncreaseydec￿a5e in slock llncreaseyreducl￿ in debtors IncreasellreductK)nl in credrlors 179.707 (2081 (7,0551 35,669 28,260 179,795 (6) (2.672) 44.608 88,507 Net ea$h pro¥id•d by operating activities ¥111 121.204 Analysls of cash and ¢ash *qU￿41*￿tr Group 2023 Group 2022 Cash in hand Overdraft laulrty repayaNe on demaThJ 178.242 {437) 220, 14f Total ￿5h and cash equlvalents 17T.805 220, 141 malysls ol changes in nel de Al 1 Aprll 2022 Cash flows At 31 March 2023 Cash at bank and in hand Bank overdrafts ￿payable on demand 220.141 {41.8991 1437) 178,242 1437) 220.141 142.3361 177.805 Page 41 OLD ALBANI￿4 SPORTS ASSOCIATION LNITED NOTES TO TME FINANCIAL STATEMENTS FOR THE YEAR ENOEO 31 MARCH 2023 25. R•lat8d party transaetions Albanian Sports AssooalK)n Lwniled ("OASA"} tr4vn$ lo￿ of the issued share ¢apTrtal of Old AlbanTr8n Sports Club Limited foASC"I, making it a relaied party. During the OASA rechaiged expenses ol £95,57212022". £39.411} to OASC. OASC recharg8d expenses of £17,841 (2022." £6.2841 relats.ng to staff wages during the year. Al the ￿aT￿nd OASC o¥ved OASA £764.32312022.' £641.3311. The Old Albanian Crickel Club has exercised the right to appoint onè of thè OASA Board of Truslees artrj so is a related party of OASA. During Ihe year OASA made farylty charges of £22.39312022'. 21.8281 to the Old Abanian Crickèt Club. At thè year end the Old ￿banIan Cricael Club owed OASA £nil 12022.. £nill. In addition. OASC made sa￿$ to the Old Albanian Crickel Club totalling £nil12022". £nill. The Okl Albanran Rugby Football Club has exerused Ihe riyhl to apm)int of Ihe OASA Board of TnJsteÈs and so is a related party of OASA. Duriry the year OASA made facilily (tharges and sales of £19.7[￿ 12022.. £45.0221 lo Ihe Old Albanian Rugby Football CIL￿. At the year eThJ the Old Albanian Rugby Football Club owed OASA £19812022= £5.486). The Cxd Abanian Club has exerused the nght to appcmnl members to the OASA Board of Tnjstees and $0 1$ a rélated party of OASA. The pregdent ol Ihe Old Abanian Club holds an ex officio appointment lo the Sl Albans School Board. which has a ￿trollIng inlluence over the St Abans Sthool Woollarn Hay'ng Field Trust I'the Trusfi. making thi8 a related party. The Trust undertook ground maintenance for OASA at a cost of £81.897 12022." £81,897) duriNJ Ihe yEar. At the >tarond OASA ¢Y+￿ the Trust £8,1 12022.. £16.3791. The Irustees provided seThices io OASA of £11.251 (2022: £nil) in the year. Al Ihe sEaT end Ihere was no Jtstanding balance. P8ge 42