DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Registered number: 05540723 Charity number: 1114421
Wallsend Boys Club
(A company limited by guarantee)
Annual report
Year ended 30 June 2023
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details | 1 |
| Trustees' report | 2 - 8 |
| Independent examiner's report | 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 - 12 |
| Statement of cash flows | 13 |
| Notes to the financial statements | 14 - 31 |
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Reference and administrative details Year ended 30 June 2023
| Trustees | C P Kirkley, President |
|---|---|
| S T Dale, Chairman | |
| S Sharp, Vice President | |
| A J Henderson, Secretary | |
| J Bell, Treasurer | |
| A Jarvis, Trustee | |
| N Watson, Trustee | |
| R Cairns, Trustee | |
| K Riley, Trustee | |
| Company registered number 05540723 Charity registered number 1114421 Registered office Bigges Main Rheydt Avenue Wallsend Newcastle upon Tyne NE28 8SX Company secretary A J Henderson Head of facilities and programmes J Percival Accountants UNW LLP Chartered Accountants St James' Boulevard Newcastle upon Tyne NE1 4JE Bankers Barclays Bank plc 3 Northumberland Square North Shields NE30 1QX Virgin Money 132 - 134 Northumberland Street Newcastle upon Tyne NE1 7DG |
1
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Trustees' report Year ended 30 June 2023
The trustees present their annual report together with the financial statements of the Wallsend Boys Club for the year 1 July 2022 to 30 June 2023. The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Our purpose and activities
Purpose
The objects of the charity are for the benefit of the public generally and, in particular, children and young people who are inhabitants of Wallsend, North Tyneside and the surrounding areas.
The objectives are as follows:
-
To support young people living in North Tyneside through their involvement in organised sport and activity programmes in order that they can achieve their potential and realise their ambitions.
-
To promote community participation in healthy recreation by providing facilities for the playing of association football and other sports.
-
To provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life.
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Ensuring our work delivers our aims
The charity reviews its aims, objectives and activities each year. This review looks at what the charity has achieved and the outcomes of its work during the previous twelve months. The review looks at the success of each key activity and the benefits that they have brought to those groups of people who the charity is set up to help.
The review also helps Wallsend Boys Club to ensure that its aims, objectives and activities have remained focused on its stated purposes. The charity refers to guidance contained in the Charity's Commission general guidance on public benefit when reviewing its aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
2
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Trustees' report (continued) Year ended 30 June 2023
Our purpose and activities (continued)
The focus of our work
The main objectives continue to be the promotion of healthy recreation through leisure time activities achieved via community participation and the provision of facilities for children and young people. Particular attention is focused on youth activities allowing children to develop their physical ability as well as providing a place for them to socialise and form friendships. The strategies used to meet these objectives include:
-
Organising youth football with a variety of different teams including 11 a side, 9 a side, 7 a side and 5 a side teams, for girls, boys, women and men, and football development sessions and tournaments for the community.
-
Educating children and young people about football skills and the rules of the game.
-
Running programmes that allow young people between the ages of 10 and 19 the opportunity to participate in sporting activities as well as addressing issues related to crime, anti social behaviour, youth disaffection and substance misuse. This has had a very positive impact on the local community.
-
Hosting fundraising activities to raise funds for the Club.
How our activities deliver public benefit
The charitable objectives focus on providing suitable sporting facilities to promote healthy recreation for young people and the community in general.
Who used and benefitted from our services?
Membership of the charity is available for boys and girls aged between six and sixteen years of age. The Club then looks for donations from the parents and guardians of these children and young people to help with the running of the Club.
Children and young people from North Tyneside benefit from the running of our various youth programmes.
Achievements and performance
Main achievements of the charity
Kirkley Park remains the Club's most significant asset. We used a part-time groundsman and an assistant, to ensure the pitches and changing facility are maintained to the highest standard practical.
Kirkley Park continued to be a thriving place to be, with over 400 of our members playing football and remaining active each week. Children as young as 4 are now attending weekly sessions at Kirkley Park. In addition, we continue to utilise the 3G pitch and generate additional revenue via private hire to local community groups, organisations and private bookings.
3
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Trustees' report (continued) Year ended 30 June 2023
Achievements and performance (continued)
Review of activities
Construction began on our new Community Hub on the 8th September 2022 – this was a huge milestone for the organisation having spent 3 years working hard to fundraise the £1.2million required for construction. The Peter Olsen Community Hub (The POCH) will be a game changer and allow us to host and deliver activities beyond football that keeps our local community active and improves their well-being.
Kirkley Park continued to be a thriving place to be, with over 600 of our members (aged 6 – over 40) playing football and remaining active each week. We are delighted to have 50 teams representing Wallsend Boys Club every week.
Children as young as 4 are now attending our weekly PODS (Peter Olsen Development Sessions) on a Saturday morning session and our girls only Wildcats on a Monday evening at Kirkley Park.
We continue to utilise the 3G pitch and generate additional revenue via commercial hire to local community groups, organisations and private bookings.
The Club continues to build links and relationships with local schools and community groups to ensure our #morethanfootball offer goes beyond the gates of Kirkley Park and into the local communities of Wallsend. We have delivered activities as part of breakfast clubs, lunchtimes and after school across local primary schools in Wallsend to ensure that children are active and to support their positive mental well-being.
We have built a strong relationship with local Primary and Secondary schools across Wallsend working in partnership to deliver breakfast clubs, lunchtime clubs and after school provision. Schools have highlighted the huge need to get children active and improve their wellbeing. On a weekly basis approximately 100 children are attending our sessions.
The Club are continuing to deliver Holiday Activity Funded camps providing FUN activities and nutritious food to local children and families who are accessing Free School Meals (FSM).
WBC have developed a strategic relationship with Durham University working in partnership to develop and demonstrate the impact WBC has in the community, on its members and wider stakeholders. We launched a parent & carers survey which we are looking to roll out each season to continue to learn and develop as a club. We want to say a huge thank you to our funders, supporters, sponsors, parents and carers for their continued support.
Thank you to the Funders that made the The Peter Olsen Community Hub (POCH) happen:
Peter Olsen Sport England The Football Foundation Sir James Knott Trust Bernard Sunley Garfield Weston Foundation Peter Harrison Foundation North of Tyne Combine Authority – Community Centre Fund Clothworkers Foundation Catherine Cookson Foundation
4
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Trustees' report (continued) Year ended 30 June 2023
Financial review
Overview
The club reports income of unrestricted funds for the year of £237,896 compared with £269,595 in 2022. The Charity received restricted grants of £611,564 including funds from the Football Foundation, Sport England, The Bernard Sunley Foundation, The Michael Carrick Foundation and Garfield Weston.
Total unrestricted expenditure for the year was £238,026.
Full budgets have been prepared for the year end to 30 June 2025, which are being monitored against actual income and costs.
Reserves policy and going concern
The trustees have examined the charity's requirement for reserves in the light of the main risks facing Wallsend Boys Club. It is the policy of Wallsend Boys Club to maintain funds at a level, which allows the charity to operate in the event of unforeseen circumstances; and gives the charity the opportunity to attract grant funders who are prepared to back large positive social enterprise developments on condition the charity also contributes a significant percentage of the cost.
The Club holds general unrestricted funds, designated funds and restricted funds. Unrestricted funds are held to meet the running costs of the charity. The designated funds are set aside for a specific project and the restricted funds are used in accordance with the donor's requirements.
Our reserves are held as a prudent amount to mitigate unforeseen expenditure or reduced income. The amounts and timings of grant income and donations are often unpredictable and varied and the charity has to plan for this with additional reserves over and above those ring-fenced and designated. This is particularly important as the Club embarks on the operation of the new community hub.
At 30 June 2023 the reserves of the charity stood at £3,356,592, of which £1,743,482 are restricted for specific purposes and £1,586,860 are unrestricted. Free reserves (ie not restricted, designated or tied up in fixed assets) amounted to £138,315, which amounts to around 8 months running costs. The trustees are satisfied with the year end position.
Investments powers and policy
Under the Memorandum and Articles of Association, the charity has the power to invest in any way the Trustees consider is of long term advantage to the Club
Structure, governance and management
Governing document
Wallsend Boys Club is registered as a charity (registered number 1114421) and a company limited by guarantee established under a Memorandum of Association which states the objects and powers of the charitable company. It is governed by its Articles of Association dated 18th August 2006. In the event of the charitable company being wound up, the trustees would be required to contribute an amount not exceeding £10.
5
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Trustees' report (continued) Year ended 30 June 2023
Structure, governance and management (continued)
Appointment of trustees
The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association, one third of trustees must retire by rotation. The trustees to retire by rotation shall be those who have been longest in office since their last (re)appointment. If the vacancy of the retiring trustee cannot be filled by another candidate then they can be reappointed in their original role.
Trustees are voted onto the committee at the Annual General Meeting. They can also be co-opted onto the committee by the Board itself between Annual General Meetings.
All of the trustees give their time voluntarily and receive no benefits from the charity.
Wallsend Boys Club has been largely content with the number and range of trustees that it has. However, the Club is reviewing the current structure and seeking independent assessments of where the leadership and governance of the Club could be improved going forward.
If additional, appropriate trustees, can enhance our organisation then there are formal procedures in place to ensure that a good candidate is selected. There is no specific age group or experience required to become a trustee but the person must be willing and able to demonstrate that they can add to the range of skills present in the current trustees.
Organisation
The board of trustees administers the charity and meet formally at least twice a year. The management of the charity is undertaken by the management committee which meets on a monthly basis. All trustees are members of the management committee.
The club relies heavily on unpaid volunteers to help run the charity.
Trustee induction and training
The chairman of the management committee, a trustee himself, is responsible for the induction of any new trustee. New trustees will usually attend a training day which involves making the trustee aware of their responsibilities, informing them of the objectives and history of the charity (including the content of the Articles and Memorandum of Association) and showing them the administrative procedures that are in place within the charity. The recent financial performance of the charity will be discussed and the trustee will have the opportunity to meet the other trustees and key members of the management committee.
Pay policy for key management personnel
The board of directors, who are the charity's trustees, give their time freely and receive no remuneration. The charity has employed 2 members of staff during the year, John Percival, the Head of Facilities and Programmes and an apprentice groundsman who helps maintain the facility. Their salaries are agreed by a sub-committee of the trustees.
Related party relationships
Ancillary payroll services were provided to the Charity by Bell Tindle Williamson LLP, of which John Bell, a trustee was a designated member. The Charity was not charged for the payroll services provided.
No other related party transactions took place during the current financial year which require disclosure.
6
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Trustees' report (continued) Year ended 30 June 2023
Structure, governance and management (continued)
Risk management
The trustees have conducted a review of the major risks to which the charity is exposed. A risk register has been created and is updated annually. Where appropriate, systems or procedures have been established to mitigate the risks that the charity faces.
Particular attention has been focused on non financial risks, specifically the risks to children and young people and other health and safety risks. Internal controls have been developed to deal with such risks.
A summary of the main risks facing the charity are detailed below:
Operational risk s
Attention has been focused on risks to children and young people and other health and safety risks. Controls have been developed to deal with such risks and everyone involved in the Club adheres to the strict safeguarding, health and safety policies and systems that are in place. These systems and procedures are in place to ensure that high standards of protection are maintained.
Financial risks
The charity relies significantly on grant funding when planning large capital expenditure or charity developments and improvements and fully appreciates that such grant funding typically requires a significant percentage to be simultaneously contributed by the charity.
The charity has diligently built up reserves so that it can contribute its share to appropriate large capital expenditure developments that are supported by grant funding. Grant funding is not heavily relied on for the day to day running of the charity but tends to be sought for the specialist arms of the charity.
Instead, the charity ensures a steady income, by offering and running a variety of different activities to maximise potential funds generated. The trustees plan to continue to adopt this approach to ensure the charity continues to operate and does not suffer if any external funding is withdrawn.
External risks
The charity has always been closely associated with its history of producing a constant stream of football players that have achieved success at the highest levels. However, Wallsend Boys Club is about much more than football. There is a risk that youngsters in the local area will not use the Club as they believe the only activities offered are football related. In truth, the Club offers a range of youth activities. There is also the risk that potential young female footballers will not use the Club believing it is only for their male counterparts. However, membership details show that there is a good mix of girls and boys who are members of the Club and exciting initiatives are underway to significantly increase the number of female members.
The trustees are satisfied that they have taken all of the necessary steps to lessen the risks affecting Wallsend Boys Club.
7
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Trustees' report (continued) Year ended 30 June 2023
Plans for future periods
There is an insatiable demand on Tyneside for 'The Beautiful Game' and we will never address that demand alone. However, the 11-a-side artificial grass pitch has extended the number of representative teams and given an informal game of football to thousands of other young people and adults at a community facility at affordable prices.
Whilst the artificial grass pitch has enhanced our football offering it will not fully help us to achieve our ambition of offering more sport and social activities from Kirkley Park. To achieve this we intend to build further facilities which will give us a significant open plan space to not only re-establish a modern youth club, but also have classroom facilities for delivering sports coaching as well as health clinics and healthy eating courses etc
The additional facilities will also give the club the capacity to generate sustainable revenues from food and beverages on match days and to host special events.
We have obtained additional funding to enable this further investment to become a reality. The building of the new community hub has now largely completed and was officially opened in September 2023.
Statement of trustees' responsibilities
The trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
S Dale
Chairman
8
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Independent examiner's report Year ended 30 June 2023
Independent examiner's report to the trustees of Wallsend Boys Club ('the charity')
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2023.
Responsibilities and basis of report
As the trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directations given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work or for this report.
Signed: Dated: 28 March 2024 Anne Hallowell BSc FCA DChA
UNW LLP Newcastle upon Tyne
9
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) Year ended 30 June 2023
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investment income 6 Total income Expenditure on: Raising funds 7 Charitable activities 9 Total expenditure Transfers between funds 16 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 107,900 67,405 61,941 600 237,846 258 196,835 197,093 (208,790) (168,037) 1,754,897 (168,037) 1,586,860 |
Restricted funds 2023 £ 611,564 - - - 611,564 - 172,254 172,254 208,790 648,100 1,095,382 648,100 1,743,482 |
Total funds 2023 £ 719,463 67,405 61,941 600 849,410 258 369,089 369,347 - 480,063 2,850,279 480,063 3,330,342 |
Total funds (as restated) 2022 £ 525,085 61,017 60,613 180 |
|---|---|---|---|---|
| 646,895 | ||||
| 1,288 334,173 |
||||
| 335,461 | ||||
| - | ||||
| 311,434 | ||||
| 2,538,845 311,434 |
||||
| 2,850,279 |
The Statement of financial activities includes all gains and losses recognised in the year.
10
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Balance sheet At 30 June 2023
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Investments 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 15 Net assets Total net assets Charity funds Restricted funds 16 Unrestricted funds 16 Total funds |
40,250 20,601 1,091,486 1,152,337 (559,825) |
2023 £ 2,766,997 2,766,997 592,512 3,359,509 (29,167) 3,330,342 3,330,342 1,743,482 1,586,860 3,330,342 |
40,269 20,601 1,107,036 1,167,906 (13,616) |
2022 £ 1,734,005 1,734,005 1,154,290 2,888,295 (38,016) 2,850,279 2,850,279 1,095,382 1,754,897 2,850,279 |
|---|---|---|---|---|
11
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Balance sheet (continued) At 30 June 2023
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees on 28 March 2024 and signed on their behalf by:
S Dale Chairman
Registered number: 05540723
The notes on pages 14 to 31 form part of these financial statements.
12
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Statement of cash flows Year ended 30 June 2023
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends, interests and rents from investments Purchase of tangible assets Net cash used in investing activities Cash flows from financing activities Repayments of borrowing Net cash used in financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2023 £ 1,145,926 600 (1,153,227) (1,152,627) (8,849) (8,849) (15,550) 1,107,036 1,091,486 |
2022 £ 435,296 180 (34,914) (34,734) (1,984) (1,984) 398,578 708,458 1,107,036 |
|---|---|---|
The notes on pages 14 to 31 form part of these financial statements
13
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Bigges Main, Rheydt Avenue, Wallsend, Tyne And Wear, NE28 8SX.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ('FRS 102') (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland ('FRS 102') and the Charities Act 2011.
Wallsend Boys Club meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are presented in pounds sterling which is the functional currency of the charity and are rounded to the nearest £1.
2.2 Going concern
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. There are no significant judgements or key sources of estimation uncertainty that affect the financial statements.
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The following specific policies are applied to particular categories of income:
-
Donations and grants are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
-
Monies from activities for raising funds are included when received.
-
Fundraising activities generate income an this is included when received.
-
Investment income is included when receivable.
-
Rental income is recognised at the time of hire.
14
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
| New site development | - | 2% straight line |
|---|---|---|
| Community hub | - | 2% straight line |
| Plant and machinery | - | 15% reducing balance |
| Motor vehicles | - | 25% straight line |
| 3G pitch | - | 10% straight line |
2.7 Cash at bank and in hand
Cash at bank and in hand comprses of funds held in the charity bank current accounts and building society deposit account.
15
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
2. Accounting policies (continued)
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.9 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 Pensions
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
2.12 Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Estimates included within these financial statements include depreciation charges. None of the estimates made are considered to carry significant estimation uncertainty, nor to bear significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year.
In preparing these financial statements the trustees do not consider there were any significant areas of judgement that were required in applying the charity's accounting policies as set out above.
16
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
3. Income from donations and legacies
| Unrestricted funds 2023 £ Donations and grants The Football Foundation - The Michael Carrick Foundation - Community Work - Garfield Weston - Phase 2 - The Bernard Sunley Foundation - Phase 2 - Sport England - Phase 2 - Cloth Workers Foundation - Phase 2 - ASSURA Management Group - Bellway - General Donations 107,900 Total 2023 107,900 Unrestricted funds (as restated) 2022 £ Donations and grants The Football Foundation - The Michael Carrick Foundation - Community Work - Peter Harrison Foundation - Peter Olsen Donation - General donations 146,715 North of Tyne Combined Authority - Total 2022 146,715 |
Restricted funds 2023 £ 216,124 35,000 29,913 30,000 75,000 150,000 38,500 25,000 10,000 2,027 611,564 Restricted funds 2022 £ 1,080 35,000 22,290 30,000 250,000 - 40,000 378,370 |
Total funds 2023 £ 216,124 35,000 29,913 30,000 75,000 150,000 38,500 25,000 10,000 109,927 |
|---|---|---|
| 719,464 | ||
| Total funds (as restated) 2022 £ 1,080 35,000 22,290 30,000 250,000 146,715 40,000 |
||
| 525,085 |
17
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
4. Income from charitable activities
| Unrestricted funds 2023 £ Courses and tournaments 15,053 Youth training 13,721 Pitch hire 38,631 67,405 Unrestricted funds (as restated) 2022 £ Courses and tournaments 11,072 Youth training 10,711 Pitch hire 39,234 61,017 |
Total funds 2023 £ 15,053 13,721 38,631 |
|---|---|
| 67,405 | |
| Total funds (as restated) 2022 £ 11,072 10,711 39,234 |
|
| 61,017 |
18
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
5. Income from other trading activities
| Unrestricted funds 2023 £ Match day cafe 8,018 Team sponsorship 13,345 Fundraising activities 38,529 Merchandise 2,049 61,941 Unrestricted funds (as restated) 2022 £ Team sponsorship 21,546 Fundraising activities 30,731 Canteen and vending machine 5,050 Merchandise 3,286 60,613 |
Total funds 2023 £ 8,018 13,345 38,529 2,049 |
|---|---|
| 61,941 | |
| Total funds (as restated) 2022 £ 21,546 30,731 5,050 3,286 |
|
| 60,613 |
6. Investment income
| Unrestricted funds 2023 £ Bank interest 600 600 |
Total funds 2023 £ 600 |
|---|---|
| 600 |
19
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
6. Investment income (continued)
| Bank interest | Unrestricted funds 2022 £ 180 180 |
Total funds 2022 £ 180 |
|---|---|---|
| 180 |
7. Expenditure on raising funds
Fundraising trading expenses
| Unrestricted funds 2023 £ Catering costs 258 Unrestricted funds (as restated) 2022 £ Merchandise 680 Catering costs 608 1,288 |
Total funds 2023 £ 258 |
|---|---|
| Total funds (as restated) 2022 £ 680 608 |
|
| 1,288 |
20
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
8. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £2,500 (2022: £nil).
9. Analysis of expenditure by activities
| Provision of sporting activities Provision of sporting activities |
Activities undertaken directly 2023 £ 199,006 Activities undertaken directly (as restated) 2022 £ 172,723 |
Support costs 2023 £ 170,082 Support costs 2022 £ 161,450 |
Total funds 2023 £ 369,088 |
|---|---|---|---|
| Total funds (as restated) 2022 £ 334,173 |
In 2022, £150,380 of charitable expenditure was restricted.
21
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
9. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Coaching and consultancy Facilities and training League and cup fees Club tours Kits Referees fees Fines Pitch maintenance Presentation evening Travel Youth development |
2023 £ 42,399 27,893 4,505 12,843 13,216 33,894 7,114 2,420 41,071 7,486 2,780 3,385 199,006 |
Total funds 2023 £ 42,399 27,893 4,505 12,843 13,216 33,894 7,114 2,420 41,071 7,486 2,780 3,385 |
|---|---|---|
| 199,006 |
| Staff costs Coaching and consultancy Facilities and training League and cup fees Club tours Kits Referees fees Fines Pitch maintenance Presentation evening Travel |
2022 (as restated) £ 43,942 26,919 11,367 9,380 5,503 19,687 7,086 1,067 41,361 4,496 1,915 172,723 |
Total funds 2022 (as restated) £ 43,942 26,919 11,367 9,380 5,503 19,687 7,086 1,067 41,361 4,496 1,915 |
|---|---|---|
| 172,723 |
22
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
9. Analysis of expenditure by activities (continued)
Analysis of support costs
| Depreciation Insurance, legal and professional Heat, light and water Repairs and maintenance Motor expenses General expenses Bank charges and interest payable Office costs Governance costs |
Total funds 2023 £ 120,235 11,898 11,727 4,987 3,141 11,141 4,101 2,821 31 170,082 |
Total funds (as restated) 2022 £ 122,073 11,964 9,125 6,661 1,354 5,795 97 4,381 - |
|---|---|---|
| 161,450 |
10. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2023 £ 35,000 6,346 1,053 42,399 |
2022 £ 35,000 7,926 1,016 |
|---|---|---|
| 43,942 |
The average number of persons employed by the charity during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Employees | 2 | 2 |
23
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
10. Staff costs (continued)
No employee received remuneration amounting to more than £60,000 in either year.
The charity trustees were not paid nor did they receive any other benefits from the charity in the year (2022 - £nil) nor were they reimbursed expenses during the year (2022 - £nil).
The key management personnel of the charity comprise the trustees and John Percival, our general manager.
11. Tangible fixed assets
| Cost or valuation At 1 July 2022 Additions At 30 June 2023 Depreciation At 1 July 2022 Charge for the year At 30 June 2023 Net book value At 30 June 2023 At 30 June 2022 |
Restricted 3G pitch development £ 920,105 - 920,105 297,753 92,011 389,764 530,341 622,352 |
Restricted Community Hub £ 34,914 1,153,227 1,188,141 - - - 1,188,141 34,914 |
New site development £ 1,370,599 - 1,370,599 299,270 27,412 326,682 1,043,917 1,071,329 |
Plant and machinery & motor vehicles £ 32,706 - 32,706 27,296 812 28,108 4,598 5,410 |
Total £ 2,358,324 1,153,227 |
|---|---|---|---|---|---|
| 3,511,551 | |||||
| 624,319 120,235 |
|||||
| 744,554 | |||||
| 2,766,997 | |||||
| 1,734,005 |
24
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
12. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income |
2023 £ 26,250 14,000 - 40,250 |
2022 £ 17,500 21,759 1,010 |
|---|---|---|
| 40,269 |
13. Current asset investments
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Listed investments | 20,601 | 20,601 |
At 30 June 2023 the market value of the investments listed above was £67,285 (2022 - £63,426)
14. Creditors: amounts falling due within one year
| Bank loans Other taxation and social security Other creditors Accruals and deferred income |
2023 £ 10,000 425 54,950 494,450 559,825 |
As restated 2022 £ 10,000 1,216 - 2,400 |
|---|---|---|
| 13,616 |
The comparative figures have been restated to reclassify £38,016 of the bank loans from due within one year, to due within more than one year. This restatement has no impact on net assets or the reported result for the prior year.
15. Creditors: amounts falling due after more than one year
| As restated | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Bank loans | 29,167 | 38,016 |
25
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
16. Statement of funds
| Unrestricted funds Designated funds Designated Funds General funds General purpose Total Unrestricted funds Restricted funds Revenue Capital - Community hub and 3G Total of funds |
Balance at 1 July 2022 £ 400,000 1,354,897 1,754,897 28,030 1,067,352 1,095,382 2,850,279 |
Income £ - 237,846 237,846 103,463 508,101 611,564 849,410 |
Expenditure £ - (197,093) (197,093) (80,243) (92,011) (172,254) (369,347) |
Transfers in/out £ - (208,790) (208,790) (26,250) 235,040 208,790 - |
Balance at 30 June 2023 £ 400,000 |
|---|---|---|---|---|---|
| 1,186,860 | |||||
| 1,586,860 | |||||
| 25,000 1,718,482 |
|||||
| 1,743,482 | |||||
| 3,330,342 |
26
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
| 16. Statement of funds (continued) Statement of funds - prior year Unrestricted funds Designated funds Designated Funds General funds General purpose Total Unrestricted funds Restricted funds Revenue Capital - Community hub and 3G Total of funds |
Balance at 1 July 2021 £ 400,000 1,271,453 1,671,453 28,030 839,362 867,392 2,538,845 |
Income £ - 269,595 269,595 58,370 320,000 378,370 647,965 |
Expenditure £ - (186,151) (186,151) (58,370) (92,010) (150,380) (336,531) |
Balance at 30 June 2022 £ 400,000 |
|---|---|---|---|---|
| 1,354,897 | ||||
| 1,754,897 | ||||
| 28,030 1,067,352 |
||||
| 1,095,382 | ||||
| 2,850,279 |
27
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
16. Statement of funds (continued)
Restricted funds
These represent funds received which are restricted to being used for a specific purpose. Amounts are released from these funds when the expenditure to which they relate has been incurred by the charity.
Capital
Sport England (£150,000) Monies received to support the development of new facilities. Cloth Workers Foundation (£38,500) Monies received to support the development of new facilities. The Bernard Sunley Foundation (£75,000) Monies received to support the development of new facilities. Garfield Weston (£30,000) Monies received to support the development of new facilities. ASSURA Management Group (£25,000) Monies received to support the development of new facilities. The Football Foundation (£212,574) Monies received to support the development of new facilities. Other (£2,027) Monies received to support the development of new facilities.
Revenue The Michael Carrick Foundation (£35,000) Monies received to support employment costs. The Football Foundation (£3,550) Monies received to support pitch management. Various Organisations Monies received to support community work.
Unrestricted funds
These are funds the trustees are free to use in accordance with the charity's objectives.
Designated funds
The Club is going through a transition period and is continuing tp transform Wallsend Boys Club into a high quality, sustainable community hub. The Club would like to further develop Kirkley Park to include additional facilities on the current site to create a community hub for the children, young people and families of Wallsend and North Tyneside. The Club has dedicated £400,000 of its reserves towards the next phase of this project which will leave us with a sensible amount towards the running costs of the organisation, without placing the Club's going concern status at risk.
28
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
17. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Tangible fixed assets 1,048,515 Current assets 637,337 Creditors due within one year (69,825) Creditors due in more than one year (29,167) Total 1,586,860 |
Restricted funds 2023 £ 1,718,482 515,000 (490,000) - 1,743,482 |
Total funds 2023 £ 2,766,997 1,152,337 (559,825) (29,167) 3,330,342 |
|---|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Restated Unrestricted funds 2022 £ 1,076,739 729,790 (13,616) (38,016) 1,754,897 |
Restated Restricted funds 2022 £ 657,266 438,116 - - 1,095,382 |
Total funds 2022 £ 1,734,005 1,167,906 (13,616) (38,016) 2,850,279 |
|---|---|---|---|
18. Related party transactions
Ancillary payroll services were provided to the Charity until April 2023 by Bell Tindle Williamson LLP, of which John Bell, a trustee as a designated member. The Charity was not charged for the payroll services provided.
No other transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard 102.
29
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
19. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Dividends, interests and rents from investments Decrease in debtors Increase/(decrease) in creditors Net cash provided by operating activities 20. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents 21. Analysis of changes in net debt At 1 July 2022 Cash flows £ £ Cash at bank and in hand 1,107,036 (15,550) Debt due within 1 year (10,000) (8,849) Debt due after 1 year (38,016) - Liquid investments 20,601 - 1,079,621 (24,399) |
2023 £ 480,063 120,235 (600) 19 546,209 1,145,926 2023 £ 1,091,486 1,091,486 Other non- cash changes £ - 8,849 8,849 - 17,698 |
2022 £ 311,434 122,073 (180) 2,255 (286) 435,296 2022 £ 1,107,036 1,107,036 At 30 June 2023 £ 1,091,486 (10,000) (29,167) 20,601 1,072,920 |
|---|---|---|
22. Controlling party
In the opinion of the trustees, there is no ultimate controlling party of the charity other than the Board itself.
30
DocuSign Envelope ID: C08B55FF-106C-4962-8368-A4348B6861D1
Wallsend Boys Club
(A company limited by guarantee)
Notes to the financial statements Year ended 30 June 2023
23. Prior year restatement
Reclassification adjustments have been made for income and expenditure in the prior year to show a more accurate reflection of the charity's activities. This restatement has no impact on net assets, fund accounting or the reported result for the prior year.
31