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← South Manchester Sports Club Limited

2024-07-31-accounts

Charity Registration No. 1121055

Company Registration No. 6299369 (England and Wales)

SOUTH MANCHESTER SPORTS CLUB LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

SOUTH MANCHESTER SPORTS CLUB LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr J Davis Mr N Collins Charity number 1121055 Company number 6299369 Principal address St Annes Road North Heald Green Cheshire SK8 4RZ Registered office 31 Wilmslow Road Cheadle Cheshire UK SK8 1DR Accountants Tussies Limited 31 Wilmslow Road Cheadle Cheshire UK SK8 1DR

SOUTH MANCHESTER SPORTS CLUB LIMITED

CONTENTS

Page
Trustees' report 1
Independent examiners report 2
Statement of financial activities 3
Balance sheet 4
Notes to the financial statements 5 - 9

SOUTH MANCHESTER SPORTS CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2024

The Trustees present their annual report and financial statements for the year ended 31 July 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 and "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).

Objectives and activities

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

Financial review

Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Major risks

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr J Davis Mr N Collins Mr D TUSSIE, FCA (Resigned 22 November 2024)

Recruitment and appointment of trustees

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Trustees' report was approved by the Board of Trustees.

Mr J Davis

Trustee

25 March 2025

SOUTH MANCHESTER SPORTS CLUB LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF SOUTH MANCHESTER SPORTS CLUB LIMITED

I report to the Trustees on my examination of the financial statements of South Manchester Sports Club Limited (the Charity) for the year ended 31 July 2024.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 that in any material respect:

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 financial statements to be reached.

Mr R D Tussie, FCA

31 Wilmslow Road Cheadle Cheshire SK8 1DR UK

Dated: 25 March 2025

SOUTH MANCHESTER SPORTS CLUB LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

**Unrestricted ** Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Bank interest 477 117
Pitch hire 81,688 68,193
Rental - Padel Tenis 2 5,417 -
Other income 3 - 2,160
Total income 87,582 69,677
Expenditure on:
Charitable activities 4 76,290 77,773
Net income/(expenditure) for the year/
Net movement in funds 11,292 (8,096)
Fund balances at 1 August 2023 1,095,923 1,104,019
Fund balances at 31 July 2024 1,107,215 1,095,923

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

SOUTH MANCHESTER SPORTS CLUB LIMITED

BALANCE SHEET

AS AT 31 JULY 2024

Notes
Fixed assets
Tangible assets
7
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within
one year
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
8
Net assets excluding pension liability
Net assets
The funds of the Charity
Unrestricted funds		 2024
£
£
1,068,586
623
90,545
91,168
(32,539)
58,629
1,127,215
(20,000)
1,107,215
1,107,215
1,107,215
1,107,215		 2023
£
£
1,079,220
714
66,558
67,272
(20,569)
46,703
1,125,923
(30,000)
1,095,923
1,095,923
1,095,923
1,095,923

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 25 March 2025

Mr J Davis

Trustee

Company registration number 6299369 (England and Wales)

SOUTH MANCHESTER SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

Charity information

South Manchester Sports Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 31 Wilmslow Road, Cheadle, Cheshire, SK8 1DR, UK.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Incoming resources

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

SOUTH MANCHESTER SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

(Continued)

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 are allocated on the portion of the asset’s use.

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings Nil
Fixtures and fittings 25% RB
Computers 25% RB
All weather pitch 10 years S/L

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

SOUTH MANCHESTER SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

2 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Rental income 5,417 -
3 Other income
2024 2023
£ £
Other income - (676)

SOUTH MANCHESTER SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

4 Charitable activities

Staff costs
Depreciation and impairment
Grounds Maintenance
Rates & water
Light & heat
Repairs & maintenance
Insurance
Cleaning & waste disposal
Telephone
Sundries
Bank loan interest
Bank charges
Trophies and presentation evening
Coaching & training
Charitable donations
Accountancy
Soccer camps
Sport equipment
Subscriptions,licences
Legal fees
FA Fees
Catering
Fire safety costs
Analysis by fund
Unrestricted funds
For the year ended 31 July 2023
Unrestricted funds
5
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets		 2024
£
26,095
10,634
1,985
3,093
3,566
5,863
3,789
627
942
861
600
193
1,643
2,698
7,370
1,440
-
-
159
4,230
-
502
-
76,290
76,290
76,290
76,290
2024
£
10,634		 2023
£
24,466
10,330
10,241
3,425
6,740
-
3,624
265
596
1,076
762
247
-
875
2,423
1,475
650
9,022
263
-
520
315
1,218
77,773
77,773
77,773
77,773
2023
£
10,330

SOUTH MANCHESTER SPORTS CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

6 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

7 Tangible fixed assets

Cost
At 1 August 2023
At 31 July 2024
Depreciation and impairment
At 1 August 2023
Depreciation charged in the year
At 31 July 2024
Carrying amount
At 31 July 2024
At 31 July 2023		 Leasehold
land and
buildings
Fixtures and
fittings
£
£
1,006,591
4,824
1,006,591
4,824
-
4,111
-
178
-
4,289
1,006,591
535
1,006,591
713		 Computers
£
17,713
17,713
15,888
456
16,344
1,369
1,825		 All weather
pitch
£
100,101
100,101
30,010
10,000
40,010
60,091
70,091		 Total
£
1,129,229
1,129,229
50,009
10,634
60,643
1,068,586
1,079,220

8 Creditors: amounts falling due after more than one year

2024 2023
Notes £ £
Bank loans 20,000 30,000

9 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 August Incoming Resources At 31 July
2023 resources expended 2024
£ £ £ £
General funds 1,095,923 87,582 (76,290) 1,107,215
Previous year: At 1 August Incoming Resources At 31 July
2022 resources expended 2023
£ £ £ £
General funds 1,104,019 69,677 (77,773) 1,095,923