Bacon's College Community Services Limited Annual Report and Financial statements 31 August 2023 Company Limited by Guarantee Registration Number 05321174 (England and wa8) Charity Regtratn Number 1111158
Contents Reports Reference and administrative details Directors, report Independent auditor's report 8-10 Financial statements Statement of financial actniities Balance sheet 12 Principal accounting policies 13-16 Notes lo the financial statements 17-21 Bacons College Community Services Limited
Reference and administrative details Dlrector$ Sir Jon Coles Suzanne Johnston Anna Paige Leadership Team Bryan Gobin Samuel Harry Deborah Turner Company secretary Alison Hussain Registered office CIO United Learning Worldwide House Thorpe Wood Peterborough PE3 6SB Company registratlon number 05321174 (England and Wales) Charlty reglstration number 1111158 Auditor Buzzacott LLP 130 Wood Street London EC2V 6DL Bankors National Westminster Bank p PO Box 9765 201 Tooley Street London SE12ZH Bacon's College Community Services Limited
Dlrectors, report Year to 31 August 2023 The board of Directors present their 5talulory report together with the financial statements of Bacons College Community Services Limited I'lhe Charitable Company") or {°BCCS"I for the year ended 31 August 2023. The report has been prepared in accordance with Part 8 of the Charities Act 2011 and constilules a Directors, report for the purpose of company legislation. The financial slalements have been prepared in accordan with the accounting policies sel out on pages 13 to 16 of the attached financial statements and comply with the Charitable Company's Memorandum and Articles of Association, applicable laws and the requirements of Accounting and Reporting by Ch8rilies'. Statement 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 effective from accounting periods commencing 1 January 2015 or later. SPECIFIC 08JECTIVES Charitable aims and specific objectives The objectives of Bacon's College Community Services Limited, as slated in the Memorandum of Association, are lo 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, infirmity 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 lo the local Community for recreational use on Mellish Fields which adjoins Bacon's College. Public beneflt 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 nefil. 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 refurbishment of the 3G 11-a-side pitch has been completed lo maintsin il in line with Football Association required standards and the Football Foundation have confirmed that the pitch is included on The FA 3G Football Turf Pitch Register. This has enabled BCCS lo increase prices for use of this unique asset in line with cost inflation whilst ensurlng il remains value for money for the local community. Bacon's College Community Services Limited
Directors, report Year lo 31 August 2023 FINANCIAL REVIEW Results for the year The results for the year are shown on page 11. Total income for the year was £198,01212022 £167,183) and has increased primarily due to increased prices for services offered. Total expenditure for the year amounted to £299,276 12022 £178,823} and has increased primarily due lo the sumPtion of salary recharges from United Learning Trust for the seven members of staff that support the running of the Charitable Company. This included charitable activities of £289,462 12022 £169.0091 and loan servicing costs of £9,81412022 - £9,814}. The net movement in funds for the year was a deficit of £101,26412022 - £11,640 deficill. Financial position The balance sheet shows total funds of £288,124 12022 £389,388), of which £288,124 12022 - £217,430) related lo the general fund and £nil 12022 £171,958) to a designated fund {nole 111. Reserves policy and going concern assessment 11 has been agreed that free reserves should be the equivalent of three months of planned expenditure for the subsequent year. excluding depreciation and losses on disposal of fixed assets. This approximates lo £43,500. As al 31 August 2023, the Charitable Company's geneml fund balance was £288,124 and free reserves were £2,575 after excluding tangible fixed assets and creditors 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 improved uptake during the year. Marketing through social media has begun in earnest and is supported by the marketing resources of United Learning. Embracing the marketing strategy and embedding it into the business is one of the key objectives for the BCCS leadership team and these activities are expected lo increase the demand for services in the futtjre. Furthermore, pitch letting fees are reviewed annually to rellecl market rate more accurately. The future intention is to raise prices year on year in line with inflation. The refijrbishment of the 3G 11-a-side pitch is also expected lo increase the demand for services and allow BCCS lo raise prices further as the enhanced quality of the pitch provides a unique asset with no significant competitors in the locality. Prices will however maintained al as fair a rale as possible to ensure high levels of continued local community use. The BCCS leadership team intend lo review opportunities for the refurbishment of the two smaller pitches in the near future. Bacon's College Community Services Limited
Directors, report Year to 31 August 2023 FINANCIAL REVIEW Icontinuedl Reserves policy and golng concern assessment Icontinuedl After making appropriate enquiries, including full consideration of the impact of the current economic climate, the Directors have a reasonable expectation that the Charitable Company has adequate resources lo continue in operation81 existence for the foreseeable future. United Learning Trust have provided assurance that they will not demand repayment of the loan to the Charitable Company and the inlercompany b2Iance at year end until there are sufficient financial resources lo make the repayment. Based on the above, the Directors believe that the Charitable Company is a going con¢em for at least 12 months from the dale of approval of these financial statements. GOVERNANCE. STRUCTURE AND MANAGEMENT Constltutlon 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, Ilabillty 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 8 minimum of two Directors to be in office at any lime (the maximum number of Directors is up lo 251. One third of the Directors retire by rolalion at the annual general meeting and, if eligible, may be re- appointed. On agreeing to become a Director of the Charitable Company, the Directors are thoroughly briefed by their Go-Direclors on the history of the Charitable Company, the day-lo-day management, the responsibilities of the Directors, the current objectives and future pSans. The Directors are also encouraged to allend any courses which they feel are relevant lo the development of their role, and to keep up-lo-date on any changes in legislation. The names of the Directors who served during the year are sel out as part of the reference and administrative details on page 1. None of the Directors received any remuneration from the Charitable Company during the year. Bacon's College Community Services Limited
Directors, report Year lo 31 August2023 GOVERNANCE, STRUCTURE AND MANAGEMENT Iconlinuedl Structure and management reporting The Directors are ultimately responsible for the policies, activities 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 accountants. The personnel at Bacon's College administer payments and keep the accounting records of the Charitable Company. Relationships with other organisations Bacon's College is parl of United Learning Trust, an exempl charity and a company limited by guarantee (Company No. 044398591. The principle object of the College is lo provide education for children of different abilities bebNeen the ages of 118nd 19, within a Church of England ethos and with an emphasis on digital media and technology. The College set up Bacon's College Community Services Limited in order lo develop Mellish Fields (which adjoins its own property) for recreational facilities for the local community. Mellish Fields is owned by the London Borough of Southwark and is leased to 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-to-day financial administration of the Charitable Company is carrted out by the employees of United Leaming Trust Risk management The Directors have assessed the major risks to 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 to mitigate those risks. The Directors consider the key risk facing the Charitable Company to be.. * Competition - The City of London Academy offers a $imilar service in the area. This is just two miles away. BCCS could face strong competition due to pricing or lack of availability of pitches for hire. Our prices have been benchmarked against the local competition and they are comparable. + Financial pressures - The Charitable Company is reliant upon income from the lelling of sporting facilities. An economic downturn andlor cost inflation could have a direct impact on the levels of funding available and on affordability of the current operating model, resulting in an inability lo cover costs. Management consider that the Charitsble Company has adequate reserves lo cover a shortfall in income and will continue lo keep this under review. Bacon's College Community Servi$ Limited
Directors, report Year to 31 August 2023 GOVERNANCE, STRUCTURE AND MANAGEMENT (continued) 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 charge of directing and ¢onlrolling, running and operating the Charitable Company on a day to day basis. Details of remuneration to key management personnel are included within note S. FUTURE PLANS The BCCS leadership team intend to create even more secure networks with local FA ft)olball clubs across all ages lo increase the use of facilities for grass-roots football. The BCCS leadership team also intend lo review opportunities for the refurbishment of the b)Jo smaller pitche5 in the near future. Marketing will continue lo be a priority and links will be sought with local companies lo encourage the hire of the pitches for team building, adult group sports and other community use. 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 belween hires. STATEMENT OF DIRECTORS, RESPONSIBILITIES 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 United Kingdom Accounting Stsndards Iuniled Kingdom Generally Accepted Accounting Praclicel. Company law requires the Directors lo prepare financial statements for each financial year which gwe 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. Under company law the Directors must not approve the financial slalemenls unless they are satisfied that they give a true and fair view of the stale of affairs of the ChaTitable 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 eonsistendy., + observe the methods and principles of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to oharilies preparing their accounts in accordance with the Financial RepK)rting Standard applicable lo the United Kingdom and Republic of Ireland IFRS 102), make judgements and eslimales that are reasonable and prudent.. • stale whether applicable United Kingdom Accounting Standards have been followed, subject lo any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the Charitable Company will continue in operation. Bacon's College Communily Services Limited
Directors, report Year lo 31 August 2023 STATEMENT OF DIRECTORS, RESPONSIBILITIES Iconlinued) The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any lime the financial position of the Charitable Company and enable them to 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 reasonable steps for the prevention and detection of fraud and other irregularities. Each of the Directors confirms that.. so far 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 lo have teken as a Director in order to make himselflherself aware of any re5evant audit information and to establish that the Charitable Company's auditor is aware of that information. Statement as to disclosure to our auditors This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006. Approved by the Directors and signed on their behalf by.. Approved by the Directors on.. 2c)ILF Bacon's College Community Services Limited
Independent auditor's report Year lo 31 August 2023 Independent auditor's report to the members of Bacon's College Community Services Limited Opinion We have audited the financial statements of Bacon's College Community Services Limited (the 'Charilable Company'l for the year ended 31 August 2023 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financi81 Reporting Standard applicable in the UK and Republic of Ireland, Iuniled Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial stalemenls". • give a true and fair view of the stale of the Charitable Company's affairs as at 31 August 2023 and of ils income and expenditure for the year then ended.. have been properly prepared in aordanCe with United Kingdom Generally A¢cepled Accounting Practice,. and • have been prepared in accordance with the requirements of the Companies Ac12006. Basis for opinion We conducted OLJr audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial slalemenls section of our report. We are independent of the Charitable Company in accordance with the ethical requirements that are relevant lo our audit of the finan¢ial ststemenls 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 to provide a basis for our opinion. Conclusions relating to going concern We have nothing lo report in respect of the following matters in relation to which the ISAS IUKI require us to report lo you where.. + the Directors. use of the going concern basis of aocounling in the preparation of the financial statements is not appropriate., or • the Director5 have not disclosed 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 period of al least fvlelve months from the date when the finaneial slalemenls are aulhorised for issue. Bacon's College Community Services Limited
Independent auditor's report Year to 31 August 2023 other Informatlon The Directors are responsible for the other information. The other information comprises the information included in the annual report other than the fi'nancial statements 4nd our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our rewrl, we do not express any fom of assurance conclusion Ihereon. In connection with our audit of the financial statements, our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misslaled. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether there is a material misslalemenl in the financial statements or a material misslalement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other infom)alion, we are required to report that fact. We have nothing lo report in thi5 regard. Opinions on other matters prescribed by the Companles Aet 2006 In our opinion, based on the work undertaken in the course of the audit.. + the information given in the Directors. report for the financial year for which the financial statements are prepared is consistent with the financial statements., and + the Directors, report has been prepared in accordance wlh applicable legal requirements. Matters on which we are required to report by exceptlon 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 materi81 misslalemenls in the Directors, report. We have nothing to report in respect of the following mallers 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 specified by law are not m8de', or we have not received all the information and explanations we require for our audit. Bacon's College Community Services Limited
Independent auditor's report Year lo 31 August 2023 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 statements that are free from material misstalemenl, whether due lo fraud or error. In preparing the financial slalemenls. the Directors are responsible for assessing the Charitable Company's ability lo continue as a going concern, disclosing, as applicable, mallers related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Charitable Company or to cease operations, or have no realistic allernalive bul to do so. Auditor's responsibilities for the audit of the financial statemgnts Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue 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 with ISAS (UK} will always delecl a material misststement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonab be expected lo influence the economic decisions of users taken on the basis of these financiaSstalemenls. A ftjrther description of our responsibilities for the audit of the financial stslemenls is located on the Financial Reporting Council's website at www.frc.org.uklaudilorsresponsibililies. This description ft)rms parl of our auditor's report. Use of this report This report is made solely lo the Charitable Company's members, as a body, in accordance with Chapter 3 of Parl 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the Charitable Company's members those mallers we are required lo state lo them in an auditor's report and for no other purpose. To the fullest extent 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 body, for our audit work, for this report, or for the opinions we have formed. Shachi Blakemore Isenior Slalutory Audilorl For and on behalf of Buzzacoll LLP, Slalulory Auditor 130 Wood Street London EC2V 6DL .?tac&U LLI Date: 24 May 2024 Bacon's College Community Services Limiled 10
Statement of financial activities Year lo 31 August 2023 Unrestricted funds Total 2023 Total 2022 Notes Incomè from: Intere81 receivable Charitable activities Total Income 2,735 195,277 198,012 105 187,078 187,183 Exp&nditure on: CharilatAe aclwilies Other Total expendlture 289,462 9,814 299,276 169,009 9,814 178.823 Nat &xp8ndieuro and net movement in funds 1101,2641 111,640} Rèconciliation of funds Fund balanTrs at 1 September 389.388 401,028 Fund balances at 31 August 288,124 389,388 All of the Charitable Company's activities derived from wntinuing operations during the above two fi'nancial periods. There was no other comprehensive income for 202312022.. £nill. Bacon's College Community Services Limited 11
Balance sheet As at 31 August 2023 2023 2023 2022 2022 Notes Flxed assats Tangible assets 1,165,515 1,017,521 Current assets Debtors Cash al bank and in hand 44,329 323,432 367.761 31,819 253,704 285,523 Creditors.. amounts falling due within one year Net curmnt as$¢ts 9 1365,1861 148,7461 2,575 1,168,090 236,777 1,254.298 reditor8'. amounts falling due after more than one year Total nat assèt9 10 1879,9661 288,124 1864,9101 389.388 The funds of the Charity: Funds and reserves Unrestricted funds General fund Designated fund Total funds 288,124 217.430 171,958 389,388 288,124 Approved by the Directors and signed on their behalf by.. Director Approvedon.. Ik zal Company Registration Number.. 05321174 (England and Wales). Bacon's College Community Seryices Limited 12
Principal accounting policles Year to 31 August 2023 The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation ol the financial statements are laid out below. Basis of preparation These financial slalements have been prepared for the year lo 31 August 2023 and are rounded to the nearest pound. The financial statements have been prepared Ljnder the historical cost convention with items recognised al cost or transaction value unSess otherwise slated in the relevant accounting poli¢ies below or the notes to these financial stalemenls. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Slalerllenl of Recommended Practice applicable to charities preparing their a¢counts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 (Charities SORP FRS 102}. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Charities Act 2011. The Charitable Company conslitules a public benefit entity as defined by FRS 102. Crltlcal accountlng estimates and areas of judgement Prepar81ion of the financial ststemenls requires the Directors to mak¢ significant judgements and eslimales. The items in the financial statements where these juolgements and estimates have been made include estimating the useful economic life of tangible fixed assets. The disposal value of the original 3G 11-a-side pitch that wa5 replaced during the year has been calculated on the value of the new 3G 11-a-side pitch that has replaced it. but deflated back to the year of ils original inslalmenl using historic retail price indices obtained from the Office for National Statistics. Assessment of going concern The Directors have assessed whether the use of the going concern assumption is appropriate in preparing these financial stalemenls. The Directors have made this assessment in respect to a period of one year from the dale of approval of these financial statements. The Directors have received assurance that United Learning Trust will not demand repayment of the loan to the Charitable Company and the inlercompany balance due at year end until there are sufficient financial resources to make the repayment. The Directors of the Charitable Company have concluded that there are no material un¢erlainties related lo events or conditions that may cast signlficanl 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 ils liabilities as they fall due. Bacon's College Community Services Limited 13
Principal accounting pollcies Year to 31 August 2023 Income recognition Incorne is iecognised in the period in which the Charitable Company has entitlement lo the income, the amount of income can be measured reliably and il 15 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 confirmation of both the amount and selllement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subje¢l to conditions that require a level of performance before the Charitable Company is entitled lo the funds, the income is deferred and not recognised until either those conditions are fully mel, or the fullilment of those conditions is wholly within the control of the Charitable Company and il is probable that those conditions will be fulfilled in the reporting period. Interest on funds held on deposit is included when receNable and the amount can t measured reliably by the Charitable Company,. this is normally upon nolilicalion of the interest paid or payable by the bank. Income from the provision of recreational facilities is credited on an accruals basis. Expenditure recognition Liabilities are recognised as expenditure as soon a5 there is a legal or conslruclive obligation committing the Charitable Company to make a payment to 8 third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. l expenditure is accounted for on an accruals basis. Expenditure comprises dire¢l Costs and support costs. All expenses, including support costs. are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follow$.' • Expenditure on charitable activities inclLsdes all costs associated with furthering th8 charitable purposes of the Charitable Company. Such costs include staff costs and properly expenditure. + Other expenditure comprises of interest payable. All expenditure is slated exclusive of VAT, which 15 recovered. Financial instruments The Charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value. Bacon's College Community Services Limited 14
Principal accounting policies Year lo 31 August 2023 Debtors Debtors are recognised al their settlement amount. less any provision for non- recoverability. Prepaymer*ls are valued al the amount prepaid. They have been discounted to the present value of the future cash reIpt 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 maturity of less than three months from the dale of acquisition. CredStors and provisions Creditors and provisions are re¢ognlsed when there is an obligation at the balance sheet dale as a result of a past event, il is probable that a transfer of economic benefit will be requiTed in selllemenl, and the amunt of the selllemenl can be estimated reliably. Creditors and provisions are recognised al the amount the Charitable Company anlicipales it will pay to sellle the debt. They have been discounted lo the present value of the future cash payment where such discounting is material. Fund accounting Unreslricled funds represent those monies which are freely available for application towards achieving any charitsble purpose that falls within the Charitable Company's charitable objects. Designated funds comprise monies set aside out of unreslricled funds for specifie future purposes or projects. Tangible fixed assets Tangible fixed assets comprise expenditure on the development of Mellish Fields, the costs incurred in relation lo acquiring a 60 year lease for the sile, and fixtures and fillings. All assets costing more than £500 are capitalised and are carried al cost, nel of depreciation and any provision ftir impairment. Tangible fixed assets are written off over their estimated useful lives on the following basis.. • Leasehold costs Life of the lease • Building costs 2°/0 Straight line • Grass and ATP pitches Over 15 years straight line + Fixtures and fittings 250A slraighl line Leases Rentals applicable lo operating leases where Substantial all of the benefits and risks of ownership remain with the lessor are charged lo the statement of financial activities on a slraighl-line basis over the lease term. Bacon's College Community Services Limited 15
Principal accounting policies Year to 31 August 2023 Statement of cash flows The disclosure exemptions permitted by Update Bulletin 1 of the Charities SORP FRS 102 have been taken advantage of in these financial statements and a statement of cash flows has not been prepared. Bacon's College Community Services Limited 16
Notes to the financial statements 31 August 2023 1 Income from charitable actlvities 2023 2022 Provision of recreatlonal facilities.. Mellish Fields ATP Football Pilch111 a-side) Mellish Fields ATP Football Pitch15 a-side) Gras5 Pitch hiie111 a-side} Grass Pitch hire17 a-side) Other income 164,940 5,150 18.1B7 1.172 5,828 195.277 139,462 9,495 13,977 3,944 200 167,078 2 Expenditure on charitable actlvltles 2023 2022 Staff costs Inole 51 Occupancy costs Maintenance costs Depreciation charg6s Inole 71 Loss on disposal of fixed assets Other eosts Bank charges Governance costs 88,123 41,995 22,399 94,805 20.672 10,394 3,989 7,085 289,462 26,344 41,477 77,421 9,963 3,154 10,650 169,009 3 Other 2023 2022 Interest on loan balance from Bacon's College (note 121 9.814 Bacon's College Community Services Limited 17
Notes to the financial statements 31 August 2023 4 Net movement in funds This is staled after charging.. 2023 2022 Depreuation Loss on disp08al of fixed assets Auditorfs remuneration 94,805 20,672 10,650 77,421 10,650 5 Staff costs and Directors. remuneratlon Staff costs during the year were as follows.. 2023 2022 Wages & Salaries So¢i81 security costs Pension costs Staff training costs 70,188 6,422 11,390 123 88,123 Staff costs during the current year relate lo salary recharges from United Learning Trust for seven members of staff on a part lime basis. Staff costs during the prior year were borne by United Le2rning Trust including that of 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 charge of directs'ng and controlling, running and operating the Charitable Company on a day lo day basis. The total costs incurred by the Company during the year in respect of the remuneration ol key management personnel was £30,752 12022 - £nill. None of the Directors received any remuneration in respect of their services during the year {2022 £nill. None of the Directois were reimbursed for any expenses during the year12022 - £nil}. 6 Taxation BCCS is 8 registeTed Charitable Company and therefore is not liable lo income tax or corporation lax on income derived from ils charitable aelivilies, as il falls within the various exemptions available to registered charib'es. Bacon's College Community Services Limited 18
Notes to the financial statements 31 August 2023 7 Tangible fixed assets Mellish Field8 Developrnent Fixtures. Building Grass and filtings and Costs ATP pitches equipment Leasehold costs Total Cost Al I Soplember 2022 Additions Dispos81s At 31 Augu812023 116,005 988,993 994.106 224.825 1129,6651 1.089.266 11,821 38.646 2,110,925 263,471 1129.6651 2,244,731 116,005 988,993 50,467 D?preciation At 1 September 2022 Disposals Charge for the y$ar At 31 August 2023 28,237 276,847 776,499 1108,9931 63,430 730,938 11,821 1,093,404 1108.9931 94,805 1,079.216 1,934 30,171 19,779 296,626 9,662 21,483 Net book value Al 31 August 2023 Al 31 August 2022 85,834 87.768 692,367 712,146 358,330 217,607 28.984 1,165,515 1,017.521 8 Debtors 2023 2022 Trade debtors VAT receivable Amount due from related undertakings {nole 121 Prepaymènts 30,372 8,459 2,092 3,406 44.329 29,412 2,407 31,819 9 Creditors: amounts falling due within one year 2023 2022 Trade creditors Acoruals VAT payabl& Amount due to related undertakings Inole 121 2S5,612 21.574 23,063 7,428 4,261 13,994 48,746 88,000 365,186 10 Creditors: amounts falling due after more than one year 2023 2022 Amtruril due to Telaled undertakings (note 121 Sundry credilors 652,309 227,657 879,966 647,087 217,823 864,910 Bacon's College Community servIs Limited 19
Notes to the Ilnancial statements 31 August 2023 11 Designated fund Asa11 Septembèr 2022 Asat 31 August 2023 Funds ulilised Sinking fund 171,958 1171,9581 As8tl As21 S6pt6mber Released 31 August 2021 d8signalions 2022 Sinking lund 177,958 171,958 A sinking fund was created lo cover the replacement of the ATP football pitch surfaces in line with the terms of the Football Found21ion's funding agreement. This fund was fully ulilised by the replacement of the ATP football pitch surfaces in the current year. 12 Related parties On 1 March 2018 Bacon's College joined United Learning Trust, an exempl charity and 8 company limited by guarantee {Company No. 044398591. United Learning Trust manages the operation of a group of academies lo piovide education for students of different abilities from nursery lo age 19. BCCS was set up by Bacon's College in order to develop Mellish Fields (which adjoins its own property) for recreational facilities for the Ioc31 community. Mellish Fields is owned by the London Borough of SouthwaTk and is leased to BCCS. United Learning Trust is a guarantor in respect lo the Mellish Fields lease beeen the London Borough of Southwark and BCCS. The Chief Executive Officer and senior management personnel of United Learning Trust served as Directors ol BCCS during the year. DLJring the year, BCCS was charged loan interest of £9,814 (2022 - £9,814) and staff costs of £88,00012022 - £nill by United Learning Trust. At 31 August 2023. BCCS owed £740,309 to United Learning Trust12022- £647.0871. ULT Trading Company Limited {Company No. 067913131 is the wholly owned trading subsidiary of United Learning Trust. Two of the Directors of BCCS served as Directors of ULT Trading Company Limited from 1 March 2018. Al 31 August 2023, BCCS was owed £2.092 from ULT Trading Company Limiled12022 - BCCS owed £13,994 to ULT Trading Company Limiledl. Bacon's College Community Services Limited 20
Notes to the financial statements 31 August 2023 13 Finance commitments Al 31 August 2023, the total of the Charitable Company's future minimum lease payments under non-cancellable operating leases for land were as follows.. 2023 2022 Amounts due within one yèar Amounts due between one and five years Amounts due after five years 14,833 59,333 S83,176 657,342 14,833 59,332 598,012 672,177 14 Analysis of net assets between fund5 Unrestricted fund Designated fund 2023 Total General Yund Tangible fixed assets Nel current assets Creditors falling due more than one year Net assets 1.165,515 2,575 (879,9661 288,124 1,165,515 2,575 1879,9661 288,124 Unrestricted fund Designated fund 2022 Total General fund T8ngibl& fixed ass&ls Nel crn1 assets Credilots fèlliftg due more Ihan on8 y8ar Net Bssels 7.017,521 64,819 (864,930) 217,430 1,017,521 236, 7T7 (864,QlO) 389,388 177,958 171,958 1 S Share capital The Charitable Company is limited by guarantee and has no share capital. Each member of the Charitable Company guarantees to subscribe such amount as may be required for the purposes of the Ch8rilabSe Company, not exceeding £1. Bacon's College Community Services Limited 21