REGISTERED CHARITY NUMBER 1111619 Report of the Trtjstees and Unaudited Financial Statements for the Year Ended 5 April 2021 For Sleaford Sports Association
Sleaford Sports Association Contents of the Financlal Statemerrts For ihe year ended 5 April 2021 Pale Report of the Trustees Ito2 Independent Examiner's Report Statement of Financial Activthes Balance Sheet Notes to the Financial Statements 6t08 Detailed Statement of Financial Activities 9tolO
Sleaford Sports Association Repart of the Trustees For the year ended 5 April 2021 The trustees present their report with the h'nancial statements of the charity for the year ended 5 April 2021. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI'Accounting and Reporting bycharities, issued in March 21>05. REFERENCE AND ADMINISTATIVE DAlL$ Registered Charity Number 1111619 Principle Address Eslaforde Park Boston Road Sleaford Lincolnshire NG34 7GH Trustees Mrs D Thompson MissSJ Rose Mr B Popple The officers of the charity a. Mrs D Thompson (Secretaryl Miss S J Rose (Treasurer) Independent examlner Duncan & Toplis Limited 18 Northgate Sleaford Lincolnshire NG34 781 Solicitors Ringrose Law Group Endeavor House 3 Gilbert Drive Boston Lincs,PE217TR Bankers Lloyds TSB Bank plc 2 North8ate Sleaford, NG34 7BL STRucfuRE, GOVERNANCE AND MANAGEMENr Governing document The charity Is controlled by its governing document. its constitution adopted on 6 July 2004 and amended on 18 April 2005. 13 July 2009 and 14 Au8USt 2017. Pa8e I
Sleaford Sports Association Report of the Trustees For the year ended 5 April 2021 STRUCTURE. GOVERNANCE ANO MANAGEMENT- Continued Recruitment and appointment of new trustees The charity has a board of three trustees, all of whom are volunteers, who are elected at the Annual General Meeting of the Charity the board of trustee5 meet monthly as a full board. It has established a management committee which discuss the activiries of the charity in terms of finance, premises and staffing. The management committee make recommendations to the board of trustees and monitor operational attivities. Prior to being elected as trustees nominees are invited to a board meeting to meet the Irustees. Should they be appointed they are provided with all the relevant information from the Charity Commission and the charity itself regarding the work of a trustee. The board of trustees does not turrently have a chairman or vice chairman at)d efforts are being made to address this matter. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 08JECTIVE5 ANO ACTIVITIES Objertlves and alms The objects of the charity are the promotion of community parhtipation in healthy recreation for the benefit of the inhabitants of Sleaford by the provision of facilitie5 for sport with an emphasis towards football. Significant activities The charity contt'nued to run and maintain the 5POrts facility at Eslaforde Park, constructed in 27. The facilities provide fantaSDC base for the clubs using the facilitr'e5 which continue to be successful and increase their members, so more local people are benehting from the excellent facilitie5 provided by the charitv. The charity has nted football pitches to Sleaford Town Football Club and Sleaford Town junior Football Club and a150 on "one off" basis to other organisations. It has also rented facilities to Sleaford Striders, Eslaforde Bowls Club and Sleaford Maltsters Archery Club. The charity has employed staff to run the clubhouse facilities, including a bar. Additional income has been generated frorn various fund-raising events and activities. Thi5 Financial Year was significantly affected by the global Covid 19 pandemic. Loss of revenue through bar takings, pitch rents and other fund raisin8 activitie5 was offset by accessing council business interruption 8rants and utili5ing the Government furlough Scheme FINANCIAL REVIEW The Statement of Financial Activities shows net incomit)g l outgoing resources for the year of £4.82312020- £1.0291. The total reserves at the end of the financial year We £836,63712020- £831,814), but the trustees intend to try and increase liquid reserves to cover at least three-month running tosts. The current bank loan of £194,(X)O wa5 taken out in Septembef 2017 on an interest only basis for three months and from December 2017 15 being repaid in equal monthly instalments so ihe loan will be repaid by September 2042. The balance out5tèndin8 on this loan at S April 2021 was £182,57912020- 181,8331. In order to ensure the loan repayments can be made the trvstees continve to ensure the overhead of the charity are kept to a minimum and io try and lind additr.onal opportunib'es to maximise income from the facilities. 160Lffle lJ- Approved by order of the board of trustees . and signed on its behalf bv- Miss S J Rose- Trustee Page 2
Independent Examiners Report To The Trustees Of Sleaford Sports Association I report on the accounts for the year ended 5 April 2021, which are set out on pages four to eight. Responsibilities and basi5 of report As the charity's trustees you are responsible for the preparation of the account5 in accordance with the requirements of the Charitr'es Act 20111'the Act'l- I have examined your charity's accounts as require5 under section 145 of the Charities Act 20111'the Act'l. In carrying out my examinatr'on I have followed the Directr'ons given by the Charity Commission under section 1451511bl of the 2011 Act. My iole is to state whether any material matters have come to my attention giving me cause to believe: That accounting records were not kept as required by section 130 of the Act- or That the accounts do not accord with those records.. or That the accounts do not comply with the accounting requirements of the Act- or That there is further information needed for a proper under5tandin8 of the accounts. Independent examiners statement I have completed my examination and have no concerns In respect of the matters11110141 listed above and in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention. Keith Phillips FCA Duncan & Toplis Limited 18 Northgate Sleaford Lincolnshire NG34 7BI Date.. Page 3
Sleaford Sports Association Statement of Financial Artivlties For the year ended S April 2021 5.4.21 Toial Funds 5.4.20 Total Fund5 Unrestricted Restricted Fund Fund Notes INCOMING RESOURCES Incoming resources from generated funds Voluntary income Attivities for generating funds 4,020 4,020 591 Total incomin8 resources 60,338 60,338 86,364 RESOURCES EXPENDED Costs of generating funds Fundraising trading.. cost of goods sold and other costs Charitable activities Membership Advertising board Firework night Sportsman's dinner Marquee hire Governance costs Other resourees expended 48,221 6,769 54.469 80,564 3,115 3.214 500 525 525 Total resources expended NET INCOMINGIIOUTGOINGI RESOURCES 11.592 16,769 4.823 11.0291 RECONCILLIATION OF FUNDS Total funds brought forward 763 536 831814 832 843 TOTAL FUNDS CARRIED FORWARD The notes form part of these financial statements Page 4
Sleaford Sports Association Balance Sheet At S April Z021 5.4.21 Total Fund5 5.4.20 Total Funds Unrestricted Restricted Fund Fund Notes FIXED ASSErs Tangible assets 233,959 756,764 990,723 1,004,705 CUThRENT AsSs Stocks Debtor5 Cash at bank and in hand £300 cash 2.750 31.665 31,665 13,174 CREDITORS Amounis falling due within one year NET CURRENT ASSETS IIUABILITIESI TOTAL ASSETS LESS CURRENT LIABILITIES 262,452 756,764 1,019.216 1,013.647 CREOITORS Amounts falling due after MO than one year 1182 579 182 $79 181833 NET ASSETS FUNOS Unrestricted funds Restricted funds li 79,873 756 764 68,278 763 536 TOTALFUNOS 836 637 831814 The financial statements were approved by the Board of Trustee5 on nd were signed on its behalf bv: Miss S Rose Trustee The note5 form part of these financial statements Page 5
Sleaford Sports Assoclation Notes to the Financial Statements For the year ended 5 April 2021 ACCOUNTING POLICIES The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities leffective April 2LK)81, the Charities Act 2011 and the requirement5 of the Statement of Recornmended Pfactice. Accounting and Reporting by Charities. Incoming resources All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount c8n be quanb'lied with reasonable accuracy. Resource5 empended Expenditure is accounted for an accruals basis and has been classified vnder headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings. they have been allocated to activitie5 on a basis consistent with the use of resources. Tangible fixed a5SÈts Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold propertv Equipment 15 on cost -2S% on cost. IO% on cost and 5% on cost Stocks Stocks are valued at the lower of cost anil net realisable value, after makinB due allowance for obsolete and slow moving items. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordante with the chariiable objectives at the discretion of the trustees. Restricted funds can only be used for particular restritted purposes within the objects of the charity. Restrictions arise when specffied by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ACTIVITIES FOR GENERATING FUNDS 5.4.21 5.4.20 Membership subscriptions Bar income Sponsorship and advertising Pitch fee5 Funday Fireworks night Sportsman dinner Hire of facilities Anglian Watey compensation Covid Grants 4,550 44,143 3.424 7.280 17,298 5,120 9.552 11,833 2,829 062 Page 6
Sleaford Sports Association Notes to the Financial Statements- continued For the year ended 5 April 2021 TRUSTEES, REMUNERATION AND BENEFITS The following trltstees were paid remuneration for duties carried out as employee5 of the charity in the yeèr ended 5 April 2021- Mrs D Thompson £7.15012020- £8,937) None of the other trustees were paid remuneration or other benelits for the year ended S April 2021 nor for the year ended 5 April 2020. Trustees, expenses There were no trustees, expenses paid the for the year ended 5 April 2021 nor for the year ended 2020. STAFF COSTS 5.4.21 5.4.20 Wages and salarles The average monthly number of employees during the year was as follows.. 5.4.21 5.4.20 Clubhouselbar Maintenance No employees received emolvment5 in excess of £60.000. TANGIBLE FIXED A$5ETS Freehold Property Equipment Tota15 COST At 6 April 2020 Additr'ons 1,106.894 106,237 1,213.131 At S April 2021 1106 894 106 237 1213 131 DEPRECIATION At 6 April 2020 Charge for year 119,961 88,465 208,426 At 5 April 2021 129 271 NET BOOKVALUE At 5 April 2021 At 5 April 2020 Included in cost or valuation of land and buildings is freehold land of £175,887 12020 - £175,887) which is not depreciated. STOCKS 5.4.21 5.4.20 Stocks Pa8e 7
Sleaford Sports As50Ciatlon Contents of the Finan¢ial Statements For the year ended 5 April 2021 OE8TORS: AMOUNS FALLING DUE wrrH ONE YEAR 5.4.21 5.4.20 Other debtor5 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 5.4.21 5.4.20 Bank loans and overdrafts Trade ereditors Taxakn"on and social security Other creditors 147 1,332 CREDITORS: AMOUNTS FALUNG DUE AFTER MORE THAN ONE YEAR 5.4.21 5.4.20 Bank loans 10. SECURED DEBTS The following secured debt5 are incllsded with creditors.. 5.4.21 5.4.20 Bank loans The bank loan is secured by a legal charge over the charity'5 freehold property Eslaforde Park. Boston Road, Sleaford, Lincs, NG34 7GH. A loan of £194,( was taken out in September 2017 on an interest only basis for three months and then repayable in equal monthty instalments 50 the loan will be repaid by September 2042. 11. MOVEMENT IN FUNDS The restricted funds represent tapital grants received for the provislon of a new sports facility at Eslaforde Park and also for the purchase of 5POrts equipment. These grants place restricb'ons on the use and sale of the freehold propertv and sports equipment. As the related assets are depreciated, then a transfer 15 made from restricted asset funds to unrestricted revenue reseNe5 to reflect the diminution in the assets. Page 8
Sleaford Sports Association Contents of the Financial Statements For the year ended 5 April 2021 5.4.21 5.4.20 INCOMING RESOURCES Voluntary income Donation5 Activities for generating funds MeMbehIp subscriptions Baf income Sponsorship and advertising Pitch fees Funday Fireworks night Sportsman's dinner Hire of facilities Anglian Water compensation Covid Grants 4,020 591 4.550 44,143 3,424 7,280 17,298 5,120 9.552 11.833 2.829 Total incoming resources 60,338 86.364 RESOURCES EXPENDEO Fundraising trading: cost of good5 slod and other cost5 Opening stock Purchases Wages Rate5 and water Light and heat Customer entertaining Insurance Repairs and renewals Cleaning and waste disposal Ground maintenance Bank charges Sundry expenses Tèlephone Freehold property Plant and machinery Bank interest Closing stock 2,750 2,026 15,681 1,230 3,265 2,615 14,071 20.756 5,394 4,915 2.188 1,758 233 4,610 459 212 988 9,310 4,672 7,608 2,142 1,265 1,007 4.488 644 1,891 3,509 9.310 4.668 6.639 54.990 80,564 Charitable activities Membership costs Advertising board costs Fireworks night cost5 Sportsman dinner cost5 Marquee hire 3,115 6,329 This page does not form part of the statutory financial statement5 Page 9
Sleaford Sports Association Contents of the Flnancial Statements For the year ended S April 2021 5.4.21 5.4.20 Govemance costs Accountancv 525 500 Support COSts ManaBement Donations Total resources expended 55.515 87.393 Net income l expenditure 4.823 11,0291 Thi5 page does not form part of the statutory financial statements Page 10