Bacon's College Community Services Limited Annual Report and Finan¢lal Statements 31 August 2022 Comp8ny Llmiled by Guaranlee Regislralion Numbèr 05321174 (England and Wale51 ChaiSly Regislralk)n Number
Content$ Reports Reference and administrative details DiTectors' report Independent auditor's report 9-11 Financial statements Slalement of financial activities 12 Balance sheet 13 Principal accounting policies 14-17 Notès lo the financial slalemenls 18-23 Bacons College Community SeNices Limited
Reference and administrative details Directors Sir Jon Coles Suzanne Johnston Anna Paige Leadershlp Team Mick Hassett Tanya W11kings Company secretsry Alison Hussain Registered office CIO United Learning Worldwide House Thorpe Wood Pelerborough PE3 6SB Company reglstration number 05321174 (England and Wale51 Charlly registration number 1111158 Auditor Buzza¢ott LLP 130 Wood Street London EC2V 6DL Bankers National Weslminsler Bank plc PO Box 9765 201 Tooley Street London SE12ZH Bacon's College Community Services Limited
Directors, report Year lo 31 August 2022 The board of Directors prosenl their slalulory report together with the financial slalemenls of Bacons College Community Services Limited l.the Charitable Company'l or I'BCCS Ltd") for the year ended 31 August 2022. The report has been prepared in aceordan¢e with Part 8 of the Charities Act 2011 and Constilules a Dire¢lors' report for the purpose of company legislation. The financial slalemenls have been prepared in accordance with the accounting policies sel out on pages 14 to 17 of the allached financial slalemenls and comply with the Charitable Company's Memorandum and Articles of Association, applicable laws and the requirements of A¢counling and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102) effective from accounting periods commencing 1 January 2015 or later. SPECIFIC OBJECTIVES Charitabl8 alms and specific objectives The objeclwes of Bacon's College Community Services Limited, as slated in the hRemoiandum of Association, are to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure lime occupation of individuals who have need of such facilities by reason of their youth, age, inlirmily or disability, financial hardship or social circumstances with the object of improving their Conditions of life. The overall aim of the Charitable Company is lo provide sporting facilities to the local community for recreational use on Mellish Fields which adjoins Bacon's Colleoe. Public benefit In setting the objectives and planning activities for the Charitable Company, the Directors have given careful consideration lo the Charity Commission's general guidance on public benefi't. ACTIVITIES. ACHIEVEMENTS AND PERFORMANCE The main purpose of the Charitable Company remains that of making sporting facilities available for community use as widely as possible. The ¢onlinued absen of COVID-19 related restrictions and a return lo norrnal customer behaviours, alongside a greater awareness of the Charitable Company's facilities through a targeted rnark&ling approach, is expected lo lead lo increased usage and turnover in future years. Bacon's College Community Services Limited
Directors, report Year to 31 August 2022 FINANCIAL REVIEW Results for the year The results for the year are shown on page 12. Total income for the year was £167,18312021 £65.405) and has increased primarily due lo the absence of COVID-19 reL41ed restrictions and a return lo normal customer behaviours. Total expenditure for the year amounted to £178.823 {2021 £183,335}. This included charitable activities of £169,009 {2021 £173,5211 and loan servicing costs of £9,814 {2021 £9.8141. The nel movement in funds for the year was a deficit of £11,64012021 £117,930 deficill. Financial position The balance sheet shows lolal funds of £389,388 12021 £401.0281, of which £217,430 12021 £229,070) related lo the general fund and £171,958 12021 £171.9581 to a designated fund Inole 11}. Reserves policy and going concern assessment 11 has been agreed that the sinking fund should Cover the future replacement of the ATP football pitch surfaces in line with the terms ol the Football Foundation's funding agreement. 11 has also been agreed that free resetves should be the equivalent of three months of planned expenditure for the subsequent year, excluding depreciation. This approximates lo £23,000. As al 31 August 2022, the Charitable Company's general fund balanco was £217,430 and free reserves were £64,819 after excluding tangible fixed assets and CditorS due after more than one year. In order lo increase free reserves. the Charitable Company has successfully launched a new website which has raised the number of enquiries into the services offered and seen an improved uptake during the year. Marketing through social media has begun in earnest and is supported by the marketing resources of United Learning Trust. Embracing the marketing strategy and embedding il into the business is one of the key objeclwes for the BCCS leadership team and these 8clivi(ies are expected to increase the demand for services in the future. Furthermore. after four years of slalic prices, pitch lelling fees were raised following a full benchmarking exercise lo reflect market rale more a¢curale5y. The future intention is lo raise prices year on year in line with inflation. 11 is also hoped that the year lo 31 August 2023 will see the refurbishment of the 3G 11-a-side pitch lo maintain il in line with FA required standards., this will allow BCCS to raise prices further as the quality of the pitch will be enhanced and as a unwue asset with no significant competitors in the locality, il will maintain ils advantage thus securing greater income in future years. Prices will however be maintained al as fair a rale as possible lo ensure high levels of continued local community use. The BCCS leadership team intend lo build further links within Southwark Council with a view lo researching potential funding opportunbties for the refurbishment of the two smaller pitches in future years. Bacon's College Community Services Limited
Directors, report Year lo 31 August 2022 FINANCIAL REVIEW Iconlinued) Reserves policy and going concern assessment lconlinuedl United Learning Trust have provided assurance that they will not demand repayment of the loan lo the Charitable Company and the inlercompany balance al year end until there are sufficient fi'nancial resources lo make the repayment. Based on the above, the Directors believe that the Charitable Company is a going conrn for al least 12 months from the dale of approval of these financial slalemenls. GOVERNANCE, STRUCTURE AND MANAGEMENT Constitution Bacon's College Community Services Limited is a company limited by guarantee (Company No. 053211741 and a UK registered charity (Charity No. 11111581. The Company was incorporated on 24 December 2004 and registered as a charity with the Charity Commission on 2 September 2005. Members, liablllty In the event of the Charitable Company being wound up, members are required to contribute an amount not exceeding £1. Governance Directors are appointed by ordinary resolution in a general meeting or by other Directors. The Articles of Association of the Charitable Company require a minimum of two Directors lo be in office al any lime {Ihe maximum number of Directors is up lo 251. One third of the Directors retire by rolalion al the annual general meeting and. if eligible. may be re- appointed. On agreeing lo become a Director of the Charf(able Company, the Directors are thoroughly briefed by their co-Direclors on the history of the Charitable Company, the day-lo-day management, the responsibilities of the Direclois. the current objectives and future plans. The Dire¢lors are also encouraged lo allerbd any courses which they feel are relevant lo the devolopmenl of their rote, and lo keep up-lo-dale on any changes in legislation. The names of the Directors who served during the year are sel out as part of the reference and adminislralive details on page 1. None of the Directors received any remuneration from the Charitable Company during the year. Structur& and management reporting The Directors are ultimately responsible for the policies, a¢lNilies and assets of the Charitable Company. When necessary, the Directors seek advice and support from the Charitable Company's professional advisers including ils solicitors, bankers and accounlanls. The personnel al Bacon's College administer payments and keep the accounting records of the Charitable Company. Bacon's College Community Services Limited
Directors. report Year to 31 August 2022 GOVERNANCE, STRUCTURE AND MANAGEMENT (continued) Relationships with other organisatlons Bacon's College is part of United Learning Trust, an exempt charity and a Company limited by guarantee (Company No. 04439859}. The principle object of the College is lo provide education for children of dilferenl abilities between the ages of 11 and 19. within a Church of England ethos and with an emphasis on digital media and technology. The College sel up Bacon's College Community Service8 Limited in order lo develop Mellish Fields (which adjoins ils own property) for recreational facilities for the local community. Mellish Fields is owned by the London Borough of Soulhwark and is leased lo the Charitable Company. The Chief Executive Officer and two senior management personnel of the United Learning Group serve as Directors of Bacon's College Community Services Limited. The day-lo-day financial administration ol the Charitable Company is carried out by the employees of United Learning Trust. Risk management The Directors have assessed the major risks lo which the Charitable Company is exposed lo. The Directors believe that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by the Charitable Company, they have established effective systems lo miligale those risks. The Directors consider the key risk facing the Charitable Company lo be.. • Competition - The City of London Academy offers a similar service in the area. This is just two miles away. BCCS Ltd could face strong competition due lo pricing or lack of availability of pitches for hire. Our prIS have been benchmarked against the local competition and they are comparable. • COVID 19 - Even though the restrictions imposed during the lock down periods have now ended and the public are again able to use outdoor sports fa¢ililies, there is a risk that a fuluie period of lock down will have a negative impact on the operations of the Charf(able Company, particularly in terms of booking levels. Management consider that the likelihood of future lockdowns is now low and also the Charitable Company has adequate reserves to cover a shortfall in income and will continue to keep this under review. Key management personnel The Directors consider that they together with the Operations Manager, the Facilities Manager and the Executive Business Manager of Bacon's College comprise the key management personnel of the Charitable Company in ¢harge of directing and controlling, running and operating the Charitable Company on a day lo day basis. Details of remuneration lo key management personnel are included within note 5. Bacon's College Community Services Limited
Directors, report Year lo 31 August 2022 FUTURE PLANS The BCCS leadership team intend to build further links within Southwark Council with a view lo researching potential funding opportunities for the fU[biShrnen1 of the two smaller pitches in future years as well as lo create even more secure networks with local FA football clubs across all ages. The BCCS leadership team hopes lo open up the grass pitches lo cricket more effectively in future and encourage a greater variety of sports on the differing pitches lo increase income generation outside of typical football playing hours. Marketing will continue lo be a priority arid links will be sought with local companies lo encourage the hire of the pitches for team building and adult group sports. An improved online booking system allowing for hire lo be booked more quickly and easily is lo be explored with a view lo maximising lellings and reducing gaps between hires. COVID-19 After making apprtspriale enquiries, including full consideration of the impact of the COVID- 19 pandemic and the current economic climate, the Directors have a reasonable expectation that the Charitable Company has adequate resources lo continue in opeiational existen for the foreseeable future. The Directors acknowledge and recognise the potential impact of such scenarios on the future operations Dt the Charitable Company, ils beneficiaries, partners and stakeholders and on wider SD¢i8ly. The Charitable Company may lose planned income as the result of any future limitations on people allending group sporting activities, although there may be some expenditure savings also. 11 is not anticipated al the curienl lime that the overall financial position of the Charitable Company will be adversely affected, or its financial solvency threatened by such events. As mentioned on page 4, the Dire¢tors have received assurance that United Learning Trust will not demand repayment of the loan lo the Charitable Company and the inleicompany balance due al year end until there are sufficient financial resources lo make the repayment. Bacon's College Community Services Limited
Directors, report Year lo 31 August 2022 STATEMENT OF DIRECTORS. RESPONSIBILSTIES The Directors (who are also trustees of Bacon's College Community Services Limited for the purposes of charity lawl are responsible for preparing the Directors, report and financial statements in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the DireclDrs lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the Charitable Company and of the income and expendilurg of the Charitable Company for that period. Under company law the Directors musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Charitable Company and of the income and expenditure of the Charitable Company for that period. In preparing these financial statements, the Directors are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable lo the United Kingdom and Republi¢ of Ireland IFRS 102}', make judgements and eslimales that are reasonable and prudent., slate whether applicable United Kingdom Accounting Standards have been followed, subject lo any material departures disclosed and oxplained in the financial statements.. and • prepare the fi'n8n¢ial slalemenls on the going concern basis unless il is inappropriatè lo presume that the Charitable Company will continue in operation. The Directors are responsible lor keeping adequate accounting records that disclose with reasonable accuracy al any time the financial posilK)n of the Charf(able Company and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonabk steps for the prevention and dettion of fraud and other irregularities. Each of the Directors confirms that.. so fai as the Director is aware, there is no relevant audit information of which the Charitable Company s auditor is unaware., and + the Director has taken all the steps that helshe ought to have taken as 8 Director in order lo make himselflherself aware of any relevant audit information and lo establish that the Charitable Company's auditor is aware of that irbfDrmalion. Bacon's College Community Services Limited
Directors, report Year ID 31 August 2022 STATEMENT OF DIRECTORS, RESPONSIBILITIES Iconlinued) Statement as to dlsclosure to our auditors This confirmation is given and should be inlerpieled in accordance wrth the provisions of s418 of the Companies Act 2008. Approved by the Directors and signed on their behaff by= Louise Johnston Approved by the Directors on.. Bacon's College Community Services Limited
Independent auditor's report Year lo 31 August 2022 Indepèndènt auditor's report to the members of Bacon's College Communlty SeNices Limited Opinion We have audited the financial statements of Bacon's College Community Services Limited Ilhe 'Chaiilable Company'l for the year ended 31 August 2022 which comprise the statement of financial aclivilies. the balance sheet and notes lo the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is appIable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting PrBclicel. In our opinion, the financial slalemenls.. • give a true and fair view of the slate of the Charitable Company's affairs as at 31 August 2022 and of its income and expenditure for the year then ended". • have been proper prepared in accordance with United Kingdom Generally Accepted Accounting Pra¢lice', and • have been prepared in accordance with the requirements of the Companies Act2006. Basis for oplnlon We conducted our audit in accordance with International Standards on Auditing {UKI (ISAS IUKII and applicable law. Our responsibil&ties under those standards are further described in the Auditor's responsibilities for the audit of the financial slalemenls section of our report. W& are independent of the Charitable Company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relating to going concern We have nothing to report in rospecl of the following mallers in relation lo which the ISAS IUKI require us lo report lo you where.. • the Directors, use of the going concern basis of accounting in the preparation of the financial slalemenls is not appropriate,. or • the Directors have not disck)sed in the financial statements any identified material uncertainties that may cast significant doubl about the Charitable Company's ability to continue lo adopt the going Concern basis of accounting for a peiiod of at least twelve months from the dale when the financial slalemenls aTe aulhorised for issue. Bacon's College Community Services Limited
Independent auditor's report Year lo 31 August 2022 Other informatlon The Directors are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report Ihereon. Our opinion on the financial statements does not cover the other information and, except lo the exlent otherwise explicitly slated in our report. we do not express any form of assurance conclusion Ihereon. In connection with our audit of the financial slalemenls, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial slalemenls or our knowledge obtained in the audit or otherwise appears lo be materially misslaled If we identify such material inconsislencieg or apparent material misslalemenls, we are required lo determine whether there is a material misslalemenl in the financial statements or a material misslalemenl of the other information. If, based on the work we have performed, we conclude that there is a material misslalemenl of this other information, we are required lo report that fact. We have nothing lo report in this regard. Opinion5 on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the eourse of the audit.. + the infomalion given in the Directors, report for the financpal year for whi¢h the financial slalements are prepared is consislenl with the financial slalemenls.. and • the Directors. report has been prepared in accordance with applicable legal requirements. Matters on which we are requlred to report by exception In the light of the knowledge and understanding of the Charitable Company and ils environment obtained in the course of the audit. we have not identified material misslalemenls in the Directors, report. We have nothing to report in respect of the folk)wing matters in relation to which the Companies Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept., or • the financial statements are not in agreement with the accounting records., or certain disclosures of Directors, remuneration specIfd by law are not made,. or we have not received all the information and explanations we require for our audit. Bacon's College Community Services Limited 10
Independent auditor's report Year lo 31 August 2022 Responsibilities of Directors As explained more fully in the Directors. responsibilities statement. the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary lo enable the preparation of financial slalemenls that are free from material misslalemenl, whether due lo fraud or error. In preparing the financial stalemenls, the Directors are responsible for assessing the Charitable Company's ability lo continue as a going concern, disclosing, as applicable, mallers related lo going concern and using the going Concern basis of accounting unless the Directors either intend lo ITquidale the Chartiable Company or lo cease operations. or have no realistic altemalive but to do so. Auditor's responsibilities for th8 audit of the financial statements Our objectives are to obtain reasonable assuran about whether the financial slalemenls as a whole are free from material mi8slalemenl, whether due lo fraud or error, and to iSSLJe an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance wilh ISAS IUKI will always delecl 8 material misslalement when il exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be gxpecled to influence the economic decisions of users taken on the basis of these financialslalements. A further description of our responsibilities lor the audit of the financial slalemenls is located on the Financial Reporting Council's website at ww.frc.org.uklaudilorsresponsibilities. This description forms part of our auditor's Teport. Use of this report This report is made solely to the Charitable Company's members, as a Ix)dy. in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the Charitable Company's members those mallers we are required lo state lo them in an audilorfs report and for no other purpose. To the fullest exlenl permilled by law, we do not accept or assume responsibility lo anyone other than the Charitable Company and the Charitable Company's members as a k)ody, for our audit work. for this report, or for the opinions we have fotmed. Shachi Blakemore (Senior Slalulory Auditor) For and on behaSf of Buzzacoll LLP, Slalutory Auditor 130 Wood Street London EC2V 6DL Date.. 12 May 2023 Bacon's College Community Services Limited 11
statement of financial activities Yeai lo 31 August 2022 Unrestricted funds Total 2022 Total 2021 Notes Incomè from.. Interest re1VbIe Charitable activities Totsl Income 105 167,078 167,183 17 65.388 65,405 Exp8ndltura on: Charitable activities Other Total expenditurè 169,009 9,814 178,823 173.521 9,814 183,335 N8t oxpendlture and not movement In funds 111,6401 1117,9301 Reconclllatlon of funds Fund balances at 1 September 401.028 518,958 Fund balan$ al 31 August 389,388 401,028 All of the Charitable Company's aelivilies derThied from continuing operations during the above two financial periods. The was no other comprehensive income for 202212021-. £nill. Bacon's College Community Services Limited 12
Balance sheet As at 31 August 2022 2022 2022 2021 2021 Notes Fixed assets Tangible assets 7 1,017,521 1,094,942 Current assats Dèbtors Cash at bank and in hand 31.819 253,704 285,623 28.589 174,863 203,452 Cr&ditor5'. amounts falling due wiihln one year Net current assèt6 148,7461 151,4391 236,777 1,254,298 152,013 1,246,955 Creditors. amounts f811ing due after more than one year Total net a¥$8ts 10 1884,9101 389,388 1845,g271 401,028 The funds of the Charity.. Funds and reserves Unreslri¢18d funds General fund . Designated fund Total fund8 217,430 171.958 389,388 229,070 171,958 401,028 Approved by the Directors and signed on their behalf by.. Director Louise Johnston Approvedon.. 2E>23 Company RegislTation Number.. 05321174 (England and Wales). Bacon's College Community Services Limited 13
Principal accounting policies Year to 31 August 2022 The princSpal accounting policies adopted, judgements and key sources of eslimalion uncertainly in the prepsralion of the financial statements are laid out below. Basis of preparation Thesè financial statements have been prepared for the year lo 31 August 2022 and are rounded to the nearest pound. The financial statements have been prepared under the historical cost convention with items recognised al wsl or transaction value unless otherwise slated in the relevant accounting poIleY below or the notes lo these financial slalemenls. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 ICh81ilies SORP FRS 1021, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Chaiilies Act 2011. The Charitable Company conslilules a public benefit entity as defined by FRS 102. Critical accounting estimates and areas of ludgement Preparation of the financial slalemenls requires the Directors lo make signilicarbt judgements and eslimales. The items in the financial statements where these judgements and eslimales have been made include eslimaling the useful economic life of tangible fixed assets. Assessment of going concern The Directors have assessed whether the use of the going concern assumption is appropriate in preparing these financial slalemenls. The Directors have made this assessment in respect lo a period of one year from the dale of approval of these financial slalemenls. The Directors have received assurance that United Learning Trust will not demand repayment of the loan lo the Charitable Company and the intercompany balance due at year end until there are sufficient financial resources lo make the repayment. The Directors of the Charitable Company have concluded that there are no material UnrtaInlieS related lo events or conditions that may cast significant doubl on the ability of the Charitable Company lo continue as a going concern. The Directors are of the opinion that the Charitable Company will have sufficient resources lo meet its liabilities as they fall due. Bacon's College Community Services Limited 14
Principal accounting policies Year lo 31 August 2022 Income recognition Income is recognised in the period in which the Charitable Company has enlillemenl lo the income, the amount of income can be measured reliably and il is probable that the income will be received. Income comprises donations, investment income and income from the provision of recreational facilities. Donations received are recognised when the Charitable Company has confimialion of both the amount and selllemenl dale. In the event of donations pledged bul not received, the amount is arUed for where the receipt is considered probable. In the event that a donation is subject lo conditions that require a level of performan before the Charitable Company is enlilled lo the funds, the income is deferred and not re¢ognised until either those conditions are fully mel, or the fulfilment of those conditions is wholly within the control ol the Charitable Company and it is probable that those conditions will be fulfilled in the reporting period. Interest on funds held on deposit is included when receivable and the amount Can be measured reliably by the Charbtable Company.. this is normally upon nolificalion of the interest paid or payable by the bank. Irbcome from the provision of recreational facili(ies is credited on an accruals basis. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation commilling the Charitable Company lo make a payment lo a third paty. it is probable that a transfer of economic benefits will be requlred in selllemenl and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals b89is. Expenditure comprises direct ¢osls and support costs. All expenses, including support costs, are allocated or apportioned lo the applicable expenditure headings. The classification belwettn activities is as follDWS'. • Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of Ihe Charitable Company. Such costs include staff costs and property expenditure. Other expenditure comprises of interest payable. All expenditure is slated exclusive of VAT, which is recovered. Financial instruments The Charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are inilially recognised al Iransaclion value and subsequently measured al their selll&menl value. Bacon's College Community seices Limited 15
Principal accounting policies Year lo 31 August 2022 Debtors Debtors are recognised al their selllemenl amount. less any provision for non- recoverability. Prepayments are valued at the amount prepaid. They have been discounted lo the present value of the future cash receipt where such discounting is material. Cash at bank and in hand Cash al bank and in hand represents such accounts and instruments that are available on demand or have a maluiity of less than three months from the dale of acquisition. Credltors and provisions Creditors and provisions are recognised when there is an obligation at the balance sheet date as a resu of a past event, il is probable that a transfer of economic beneff( will be required in setllemenl, and the amount of the settlement can be eslimaled reliably. Creditors and provisions are recognised at the amount the Charitable Company anlicipales il will pay lo sellle the debt. They have been discounted lo the present value of the future cash payment where such discounting is material. Fund accountlng Unreslricled funds represent those rmnies which are freely available for application towards achieving any charitable purpose that falls within the Charitable Company's charitable 04ecls. Designated funds comprise monies sel aside out of unrestricted funds for specific future purposes or projects. Tangible fixed assets Tangible fixed assets comprise expenditure on the development of Mellish Fields, the costs incurred in relation lo &¢quiring a 60 year lease for the sile, and fixtures and fillings. All assets costing more than £500 are capilalised and are carried al cost, net of depreciation and any provision for impairment. Tangible fixed assets are wrillen off over their estimated useful lives on the following basis., Leasehold costs Life of the lease + Building costs 2.kn straight line Grass and ATP pitches Over 15 years slraighl line + Fixtures and fillings 25Qkn slraighl line Leases Rentals applicable to operating leases where subslanlialSy all of the benefits and risks of ownership remain with the lessor are charged lo the slalemenl of financial activities on a slraight-line basis over the lease term, Bacon's College Community Services Limited 16
Princlpal accounting policies Year lo 31 August 2022 Statement of cash flows The disclosure exemptions permitted by Update Bulletin 101 the Charities SORP FRS 102 have been taken advantage of in these financial slalemenls and a statement of cash flows has not been prepared. Bacon's College Community Services Limited 17
Notes to the flnancial statements 31 August 2022 Income from charitable activitles 2022 2021 Provlsion of recr8ational facilities.. Mellish Fi61ds ATP Football Pitch111 a-side) Mellish Fields ATP Football Pitch15 a-sidel Grass Pitch hire111 a-gdel Grass Prtch hire17 a-side) Cl85s Room hire 139,462 9,495 13.977 3,944 200 167,078 53,027 3,750 8.453 158 85,388 2 Expenditure on charitable activitles 2022 2021 Occupancy costs Maintenanee costs Depreualion charges (note 71 Other costs 88nk charges Govern8n costs 26,344 41,477 77,421 9.963 3,154 10,850 169,009 30,125 49,471 77,421 12,067 1,237 3,200 173,521 3 Other 2022 2021 Interest on 108n bal8ncÉ from Bacon's College Inote 121 Bacon's College Community Services Limited 18
Notes to the financial statements 31 August 2022 4 Ngt movement in funds This is slated after charging.. 2022 2021 Depreciation Audilorfs mUnerat)n 77,421 10.650 77,421 3,200 S Staff costs and Directors, remuneration Staff costs during the current year and prior year havè been borne by United Learning Trust including that of key management personnel. The Directors consider that they together with the Facilitie5 Manager, the Operations Manager and the Executive Business Manager Df Bacon's College comprise the key management personnel of the Charitable Company in charge of directing and controlling, running and operating the Charitable Company on a day lo day basis. The lolal costs incurred by the Company during the year in respect of the remuneration of key management personnel was £nil 12021 £nill. None of the Directors received any remuneration in respect of their serveS during the year 12021 £nill. None of the Directors were reimbursed for any expenses during the year12021- £nil). 6 Taxatlon BCCS Ltd is a registered Charitable Company and therefore is not liable lo income tax Dr corporation tax on income derived from ils charitable aclivilies. as il falls within the various exemptions available lo registered charities. Bacon's College Community Services Limited 19
Notes to the financial statements 31 August 2022 7 Tangible flxed assets Mellish Fields Developrnent Fixtu$, Building Gr8ss and fittings and costs ATP pitches equiprnent Leasehold costs Total Cost Al I September 2021 At 31 August 2022 116,(K)5 116,(X15 988.993 988.993 994,106 994,106 11,821 11,821 2,110,925 2.110,925 Deprfrclatlon At 1 September 2021 Charge for year At 31 ALuusI 2022 28.304 1,933 28,237 257,7 19,780 276,847 720,791 55,708 776.499 11,821 1.015,983 77,421 1,093,404 11,821 Net book value At 31 August 2022 At 31 August 2021 87,768 89.701 712.146 731.926 217,607 273,315 1,017,S21 1,094,942 8 Debtors 2022 2021 Trade debtors Prepayment5 29,412 2,407 31,819 27.519 1,070 28,589 9 Creditors: amounts falling due wlthin one year 2022 2021 Trade credrtors Accrijals VAT payable Amount due lo related undertakings (notè 121 23,063 7,428 4.261 13,994 48.746 20.679 7,192 5,734 17,834 51,439 10 Credltors: amounts falllng due after more than one year 2022 2021 Amount due to related undertakings (note 121 Sundry creditors 647,087 217,823 864.910 642.937 202,990 845,927 Bacon's College Community Services Limited 20
Notes to the financial statements 31 August 2022 11 Deslgnated fund As8t1 Asat September Released 31 August 2021 designations 2022 Sinking fund 171,958 171,958 As8t7 Asat Septemb8r Relèased 31 August 2020 dosignalions 2027 Sinking fund 171,958 111,958 11 has been agreed that the sinking fund should cover the future replacement of the ATP football pitch surfaces in line with the terms of the Football Foundation's funding agreement. Bacon's College Community Seivices Limited 21
Notes to the financial statements 31 August 2022 12 Related parties On 1 March 2018 Bacon's College joined United Leaming Trust. an exempl charity and a company limited by guarantee (Company No. 044398591. United Learning Trust manages the operation ol a group of academies to provide education for students of different abilities from nursery lo age 19. BCCS Lld was sel up by Baeon's College in order lo develop Mellish Fields (which adjoins ils own property) for recreational facilities for the local community. Mellish Fields is owned by the London Borough of Soulhwark and is leased lo BCCS Ltd. United Learning Trust is guarantor in respect lo the Mellish Fields lease between the London Borough of Soulhwark and BCCS Ltd. The Chief Executive Officer and two senior managemerbl personnel of United Learning Trust served as Directors of BCCS Ltd during the year. During the year, BCCS Ltd was charged loan interest of £9,814 by United Learning Trust 12021 £9,8f41. Al 3f August 2022. BCCS Ltd owed £647,087 to United Learning Trust 12021- £642,937). Bacon's College Educational and Community Services Limited IBCECS Lldl (Company No. 028132151 was the wholly owned trading subsidiary of Bacon's College. On 1 March 2018 the assets and liabilities of BCECS Ltd were ITansferred lo ULT Trading Company Limited (Company No. 067913131. Two of the Directors of BCCS Ltd served as Directors of ULT Trading Company Limited from 1 March 2018. Al 31 August 2022. BCCS Ltd owed £13,994 to ULT Trading Company Limited (2021 £17,834). 13 Finance commitments At 31 August 2022, tho lolal of the Charitable Company's future minimum lease payments under non-cancellable operating leases for land were as follows.. 2022 2021 Amoullts du8 within one year Atnounts due b&theen one and five y88rs Amounts due after five years 14,833 59,332 598.012 672,177 14,833 59,332 612.845 687,010 Bacon's College Community Services Limited 22
Notes to the f inancial statement$ 31 August 2022 14 Analysls of net assets between funds Unrestricted fund DesvJnated fund 2022 Total General fund Tangible fixed assets Net current assets Creditors falling due more than one year Net assets 1,017.521 64,819 1864,9101 217,430 1,017,521 236,777 1864,9101 389,388 171,958 171,8 unr&Str1d fund Design8t8tl fund 202? Total G8n&ral fund Tangible fixecl assets Net Gurrent 8ssels c(lIf0rS falling due more than one ye8r Nel assèts 1,094,942 {19,945) (845,927) 229.070 1,094.942 152,f)13 (845,921) 401,028 ITt,958 171,958 15 Share capltal The Charitable Company is limited by guarantee and has no share capital. Each member of the Charitable Company guarantees lo subscribe such amount as may be required for the purposes of the Charitable Company. not ex¢eeding £1. Bacon's College Community Servi$ Limited 23