REGISTERED COMPANY NUMBER: 05730024 (England and Wales)
REGISTERED CHARITY NUMBER: 1120272
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 30 June 2021
for
Omonia Youth (UK) Limited
Omonia Youth (UK) Limited
Contents of the Financial Statements for the Year Ended 30 June 2021
----- Start of picture text -----
Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 10
Detailed Statement of Financial Activities 11 to 12
----- End of picture text -----
Omonia Youth (UK) Limited
Report of the Trustees
for the Year Ended 30 June 2021
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwiththe financial
statementsofthecharityfortheyearended30June2021.ThetrusteeshaveadoptedtheprovisionsofAccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
TheCharityisgovernedbyitsMemorandumandArticlesofAssociation.Itsobjectsaretoprovidefacilitiesforhealthyrecreation and
sport for young people between the ages of 6 to 18.
Once the charity obtainedits charitablestatus, it took over the activitiesof Omonia Youth (UK), a youth club, with similar objects.All the
assets were donatedfrom that club to the new charityon the understandingthat the charitywouldcontinueto providesimilar facilities
and recreation as the old club.
Under the Memorandum and Articles of Association, the charity has the power to make any investments which the trustees see fit.
ACHIEVEMENT AND PERFORMANCE
Thecurrentseasonstartedwithdifficultiesduetothepandemicbutendedwellfromafootballperspectiveasrestrictions where
reducedandfootballwasallowedtogoahead.Fromafinancialperspectiveitwasachallengingseasonduetodifficultiesin asking
parentsto pay so we had no choicebut to ask for a subsidisedfee.We didn'tmanageto have the usualfund raiserssuch as our dinner
and danceand our highlysuccessfulannual5 a side tournament.This has impactedthe currentset of accountsbut we expectto return
to normality in the next years set of financial results.
FINANCIAL REVIEW
Financial position
The statementof financialactivitiesfor the periodis set out on page 4 of the financialstatements.The trusteesare optimisticthat the
following years will generate similar incoming resources.
The policyof the trusteesis to continueto maintainunrestrictedreservesat a reasonablelevelto fulfilthe objectsof the charityand to
providethesefacilitiesforhealthyrecreationinsubsequentyears.Thecharityshouldhaveminimumreservesofsixmonthsworth of
expenditure.Itisalsotheirpolicytotrytobuildupreserveswhenanopportunityarisesforthecharitytoacquireitsownground and
provide even better facilitiesfor these youngstersthe charity has sufficientreserves to be in a strong positionto take advantageof these
opportunities.
Asat30June2021readilyaccessiblereservesofthecharitywere£105,690(2020:£94,490)intheformofcash,asshownon the
balance sheet.
Thetrusteesactivelyreviewthemajorrisksfacedbythecharityandconfirmthattheyhaveestablishedsystemstomitigate financial
risks.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charityis controlledby its governingdocument,a deed of trust, and constitutesa limited company,limited by guarantee,as defined
by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05730024 (England and Wales)
Registered Charity number
1120272
Registered office
Woodgate House
2-8 Games Road
Cockfosters
Hertfordshire
EN4 9HN
Page 1
Omonia Youth (UK) Limited
Report of the Trustees
for the Year Ended 30 June 2021
Trustees
A Antoniou
J Castignetti
A P Charalambous
E Constanti
K Kyprianou
N C Zimaras
M Pieri (appointed 11.3.22)
D Shiamishis (appointed 11.3.22)
ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompaniesAct2006relatingto small
companies.
Approved by order of the board of trustees on 24 March 2022 and signed on its behalf by:
A P Charalambous - Trustee
Page 2
Independent Examiner's Report to the Trustees of
Omonia Youth (UK) Limited
Independent examiner's report to the trustees of Omonia Youth (UK) Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsiblefor the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Havingsatisfiedmyselfthat the accountsof the Companyare not requiredto be auditedunder Part16 of the 2006 Act and are eligible
forindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsascarriedoutundersection145of the
CharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowedtheDirectionsgivenbytheCharity Commission
under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I havecompletedmy examination.I confirmthatno mattershavecometo my attentionin connectionwiththe examinationgiving me
cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I havenoconcernsandhavecomeacrossnoothermattersin connectionwiththeexaminationtowhichattentionshouldbe drawn in
this report in order to enable a proper understanding of the accounts to be reached.
Michael Omiros FCCA
Association of Chartered Certified Accountants
24 March 2022
Page 3
Omonia Youth (UK) Limited
Statement of Financial Activities for the Year Ended 30 June 2021
|
|
30.6.21 |
30.6.20 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
Donations and legacies |
|
300 |
2,615 |
Charitable activities |
4 |
|
|
Income from charitable activities |
|
104,669 |
146,052 |
Other trading activities |
2 |
12,078 |
168 |
Investment income |
3 |
12 |
58 |
Total |
|
117,059 |
148,893 |
EXPENDITURE ON |
|
|
|
Raising funds |
|
- |
200 |
Charitable activities |
|
|
|
Expenditure on Charitable activities |
|
100,243 |
112,627 |
Other |
|
5,616 |
3,473 |
Total |
|
105,859 |
116,300 |
NET INCOME |
|
11,200 |
32,593 |
RECONCILIATION OF FUNDS |
|
|
|
Total funds brought forward |
|
94,490 |
61,897 |
TOTAL FUNDS CARRIED FORWARD |
|
105,690 |
94,490 |
The notes form part of these financial statements
Page 4
Omonia Youth (UK) Limited
Balance Sheet 30 June 2021
30.6.21
Unrestricted
fund
Notes
£
CURRENT ASSETS
Debtors
9
3,230
Cash at bank
104,709
107,939
CREDITORS
Amounts falling due within one year
10
(2,249)
NET CURRENT ASSETS
105,690
TOTAL ASSETS LESS CURRENT LIABILITIES
105,690
NET ASSETS
105,690
FUNDS
11
Unrestricted funds
105,690
TOTAL FUNDS
105,690 |
30.6.20
Total
funds
£
3,070
91,420 |
|
94,490
- |
|
94,490 |
|
94,490 |
|
94,490 |
|
94,490 |
|
94,490 |
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended
30 June 2021.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyearended30June2021 in
accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)ensuringthatthecharitablecompanykeepsaccountingrecordsthatcomplywithSections386and387oftheCompanies Act
2006 and
(b)preparingfinancialstatementswhichgive a true and fair viewof the stateof affairsof the charitablecompanyas at the end of
each financialyear and of its surplusor deficitfor each financialyear in accordancewiththe requirementsof Sections394 and
395andwhichotherwisecomplywiththerequirementsoftheCompaniesAct2006relatingtofinancialstatements,sofar as
applicable to the charitable company.
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitablecompaniessubjectto the
small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon24March2022andweresignedon its
behalf by:
A P Charalambous - Trustee
The notes form part of these financial statements
Page 5
Omonia Youth (UK) Limited
Notes to the Financial Statements
for the Year Ended 30 June 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and
RepublicofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicablein the UK and Republicof Ireland'and the CompaniesAct 2006.The financialstatementshave been prepared under
the historical cost convention.
Income
All income is recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable that
the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharityto that
expenditure,it is probablethat a transferof economicbenefitswill be requiredin settlementand the amountof the obligation
canbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadings that
aggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingstheyhave been
allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings- 33% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictionsarise when
specified 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.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharitable company's
pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. OTHER TRADING ACTIVITIES
OTHER TRADING ACTIVITIES |
|
|
|
30.6.21 |
30.6.20 |
|
£ |
£ |
Tournament income |
12,078 |
168 |
continued...
Page 6
Omonia Youth (UK) Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2021
3. INVESTMENT INCOME
INVESTMENT INCOME |
|
|
Deposit account interest
INCOME FROM CHARITABLE ACTIVITIES
Activity
Sponsorship
Income from charitable activities
Subscriptions
Income from charitable activities
Grants
Income from charitable activities
Grants received, included in the above, are as follows:
Football Foundation |
30.6.21
£
12
30.6.21
£
7,500
96,419
750
104,669
30.6.21
£
750 |
30.6.20
£
58
30.6.20
£
11,500
132,052
2,500 |
|
|
146,052 |
|
|
30.6.20
£
2,500 |
4. INCOME FROM CHARITABLE ACTIVITIES
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.
6. STAFF COSTS
STAFF COSTS |
|
|
|
30.6.21 |
30.6.20 |
|
£ |
£ |
Wages and salaries |
30,195 |
24,161 |
Social security costs |
34,288 |
47,998 |
Other pension costs |
2,591 |
8,502 |
|
67,074 |
80,661 |
The average monthly number of employees during the year was as follows: |
|
|
|
30.6.21 |
30.6.20 |
No employees received emoluments in excess of £60,000.
continued...
Page 7
Omonia Youth (UK) Limited
Notes to the Financial Statements - continued
for the Year Ended 30 June 2021
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
7. |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
|
Unrestricted |
|
|
fund |
|
|
£ |
|
INCOME AND ENDOWMENTS FROM |
|
|
Donations and legacies |
2,615 |
|
Charitable activities |
|
|
Income from charitable activities |
146,052 |
|
Other trading activities |
168 |
|
Investment income |
58 |
|
Total |
148,893 |
|
EXPENDITURE ON |
|
|
Raising funds |
200 |
|
Charitable activities |
|
|
Expenditure on Charitable activities |
112,627 |
|
Other |
3,473 |
|
Total |
116,300 |
|
NET INCOME |
32,593 |
|
RECONCILIATION OF FUNDS |
|
|
Total funds brought forward |
61,897 |
|
TOTAL FUNDS CARRIED FORWARD |
94,490 |
8. |
TANGIBLE FIXED ASSETS |
|
|
|
Fixtures |
|
|
and |
|
|
fittings |
|
|
£ |
|
COST |
|
|
At 1 July 2020 and 30 June 2021 |
4,484 |
|
DEPRECIATION |
|
|
At 1 July 2020 and 30 June 2021 |
4,484 |
|
NET BOOK VALUE |
|
|
At 30 June 2021 |
- |
|
At 30 June 2020 |
- |
continued...
Page 8
Omonia Youth (UK) Limited
Notes to the Financial Statements - continued
for the Year Ended 30 June 2021
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments and accrued income
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals and deferred income
11.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
30.6.21
30.6.20
£
£
3,230
3,070
30.6.21
30.6.20
£
£
2,249
-
Net
movement
At
At 1.7.20
in funds
30.6.21
£
£
£
94,490
11,200
105,690
94,490
11,200
105,690
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
117,059
(105,859)
11,200
117,059
(105,859)
11,200
Net
movement
At
At 1.7.19
in funds
30.6.20
£
£
£
61,897
32,593
94,490
61,897
32,593
94,490 |
30.6.21
30.6.20
£
£
3,230
3,070
30.6.21
30.6.20
£
£
2,249
-
Net
movement
At
At 1.7.20
in funds
30.6.21
£
£
£
94,490
11,200
105,690
94,490
11,200
105,690
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
117,059
(105,859)
11,200
117,059
(105,859)
11,200
Net
movement
At
At 1.7.19
in funds
30.6.20
£
£
£
61,897
32,593
94,490
61,897
32,593
94,490 |
30.6.21
30.6.20
£
£
3,230
3,070
30.6.21
30.6.20
£
£
2,249
-
Net
movement
At
At 1.7.20
in funds
30.6.21
£
£
£
94,490
11,200
105,690
94,490
11,200
105,690
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
117,059
(105,859)
11,200
117,059
(105,859)
11,200
Net
movement
At
At 1.7.19
in funds
30.6.20
£
£
£
61,897
32,593
94,490
61,897
32,593
94,490 |
|
|
11,200 |
|
|
|
At
30.6.20
£
94,490
94,490 |
|
|
|
|
94,490 |
continued...
Page 9
Omonia Youth (UK) Limited
Notes to the Financial Statements - continued
for the Year Ended 30 June 2021
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
148,893
(116,300)
32,593
148,893
(116,300)
32,593 |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
148,893
(116,300)
32,593
148,893
(116,300)
32,593 |
|
|
32,593 |
A current year 12 months and prior year 12 months combined position is as follows:
|
|
Net |
|
|
|
movement |
At |
|
At 1.7.19 |
in funds |
30.6.21 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
61,897 |
43,793 |
105,690 |
TOTAL FUNDS |
61,897 |
43,793 |
105,690 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
265,952
(222,159)
43,793
265,952
(222,159)
43,793 |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
265,952
(222,159)
43,793
265,952
(222,159)
43,793 |
|
|
43,793 |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2021.
Page 10
Omonia Youth (UK) Limited
Detailed Statement of Financial Activities for the Year Ended 30 June 2021
|
30.6.21 |
30.6.20 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
300 |
2,615 |
Other trading activities |
|
|
Tournament income |
12,078 |
168 |
Investment income |
|
|
Deposit account interest |
12 |
58 |
Charitable activities |
|
|
Sponsorship |
7,500 |
11,500 |
Subscriptions |
96,419 |
132,052 |
Grants |
750 |
2,500 |
|
104,669 |
146,052 |
Total incoming resources |
117,059 |
148,893 |
EXPENDITURE |
|
|
Other trading activities |
|
|
Dinner and dance |
- |
200 |
Charitable activities |
|
|
Kits and equipment |
30,195 |
24,161 |
Training facilities |
34,288 |
47,998 |
Ground maintenance |
2,591 |
8,502 |
Pitches and referees |
18,735 |
25,305 |
Tournament expenditure |
8,440 |
327 |
Subscriptions and affiliations |
4,630 |
5,165 |
Internet services |
867 |
354 |
Insurance |
267 |
267 |
Meeting room hire |
- |
250 |
|
100,013 |
112,329 |
Other |
|
|
Advertising |
- |
625 |
Coaching and other courses |
2,987 |
623 |
Other |
1,129 |
1,925 |
Donations |
1,500 |
300 |
|
5,616 |
3,473 |
Support costs |
|
|
This page does not form part of the statutory financial statements
Page 11
Omonia Youth (UK) Limited
Detailed Statement of Financial Activities
for the Year Ended 30 June 2021
|
30.6.21 |
30.6.20 |
|
£ |
£ |
Support costs |
|
|
Finance |
|
|
Bank charges |
230 |
298 |
Total resources expended |
105,859 |
116,300 |
Net income |
11,200 |
32,593 |
This page does not form part of the statutory financial statements
Page 12