2021-06-30-accounts - Bradford City FC Community Foundation

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COMPANY REGISTRATION NUMBER: 6364892 CHARITY REGISTRATION NUMBER: 1122310

Bradford City FC Community Foundation Company Limited by Guarantee Financial Statements

30 June 2021

Bradford City FC Community Foundation

Company Limited by Guarantee

Financial Statements

Year ended 30 June 2021

	Page
Trustees' annual report (incorporating the director's report)	1
Independent examiner's report to the members	4
Statement of financial activities	5
Statement of financial position	6
Notes to the financial statements	7

Bradford City FC Community Foundation

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 30 June 2021

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 30 June 2021.

Reference and administrative details

Registered charity name Bradford City FC Community Foundation Charity registration number 1122310 Company registration number 6364892 Principal office and registered Coral Windows Stadium office Valley Parade Bradford BD8 7DY West Yorkshire The trustees David Ward Jean Calvert Paul Mitchell Alan Biggin Roger Owen Kirsty Thornton Humayun Islam Company secretary Jean Calvert Independent examiners Bostocks Boyce Welch Chartered accountants The Counting House Wade House Road Shelf Bankers HSBC 47 Market Street Bradford West Yorkshire BD1 1LW

Bradford City FC Community Foundation

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 30 June 2021

Structure, governance and management

The club is managed by a Board of Trustees and the Football Management Committee.

Members of the Football Management Committee are elected at the annual general meeting and hold office until the end of the annual general meeting the following year. Members may also be co-opted onto the Football Management Committee.

The club’s constitution provides for up to nine trustees who hold the property of the club under the deed of the trust. The Football Management Committee manage the club on a day to day basis. They report to the Board of Trustees who have overall financial responsibility.

Objectives and activities

To promote community participation in healthy recreation by providing facilities for the play of association football and other sports capable of improving health (facilities means land, buildings, equipment and organising sporting activities.

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 condition of life.

To advance the education of children and young people through such means as the trustees think fit in accordance with the law of charity.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

We continue to be a self-funded charity and have promoted the improvement of health and well-being of the local community through the medium of football and multi-sports. We have encouraged more people of all ages, race, gender and ability to play football and multi-sports whilst educating them in the areas of health and fitness. We have continued to work in schools, as well as with people and groups in the local community. In addition, we currently help run Bradford Disability Football Club, which has 130 members and 8 teams who play in the West Riding Ability Counts League every month. We have also carried out work involving looked after/fostered children, homeless groups, and have strong links with the Bradford Burns Unit Appeal.

Bradford City FC Community Foundation

Company Limited by Guarantee

Independent examiner’s report to the members

Year ended 30 June 2021

Financial review

The aim of the management committee is to ensure that the club’s operation costs are more than covered by its income, and to develop a surplus of funds that can be invested in future infrastructure projects in furtherance of the club’s objectives.

The clubs financial statements are presented on pages 5 to 6. The results are in line with the committee’s expectations.

Trustees' responsibilities statement

The trustees, who are also directors 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 charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the 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 in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards 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.

Independent Examiner

Colin Bottomley of Bostocks Boyce Chartered Accounts was re-appointed as the charity’s independent examiner during the year and has expressed his willingness to continue in that capacity.

The trustees' annual report and the strategic report were approved on 25[th] October 2021 and signed on behalf of the board of trustees by:

Jean Calvert Trustee Secretary

Bradford City FC Community Foundation

Company Limited by Guarantee

Independent examiner’s report to the members

Year ended 30 June 2021

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Examine the accounts under section 145 of the Charities Act,
To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charites Act), and
To state whether particular matters have come to our attention.

Basis of Independent examiner’s statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement.

In connection with my examination, no matter has come to my attention:

Which gives me reasonable cause to believe that, in any material respect, the requirements:
(a) To keep accounting records in accordance with section 130 of the Charities Act;
(b) To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

C Bottomley

Bostocks Boyce Welch Chartered Accountants The Counting House Wade House Road Shelf Halifax

25 October 2021

Bradford City FC Community Foundation

Company Limited by Guarantee

Statement of Financial Activities 30 June 2021

		2021	2020
		£	£
Turnover		800,424	1,154,801
Administrative expenses		(971,894)	(1,075,776)
Other operating income		133,721	-
		_	_
Operating (loss)/profit		(37,749)	79,025
Other interest receivable and similar income		-	-
		_	_
(Loss)/profit before taxation	5	(37,749)	79,025
Tax on (loss)/profit		-	-
		_	_
(Loss)/profit for the financial year and total	comprehensive income	(37,749)	79,025
		_	_

All the activities of the company are from continuing operations.

The notes on pages 7 to 11 form part of these financial statements.

Bradford City FC Community Foundation

Company Limited by Guarantee

Statement of Financial Position

30 June 2021

Note Fixed assets Tangible assets 7 Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Net assets Capital and reserves Revaluation reserve Profit and loss account Charity funds	2021 £ £ 20,157 _ 20,157 484 294,928 _ 295,412 (1,555) _ 293,857 _ 314,014 _ 314,014 _ 40,096 273,198 _ 314,014 _	2020 £ £ 26,877 _ 26,877 4 327,837 _ 327,841 (2,955) _ 324,886 _ 351,763 _ 351,763 _ 40,096 311,667 _ 351,763 _	2020 £ £ 26,877 _ 26,877 4 327,837 _ 327,841 (2,955) _ 324,886 _ 351,763 _ 351,763 _ 40,096 311,667 _ 351,763 _
			_ 351,763
			_ 351,763
			_ 40,096 311,667
			_ 351,763 _

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements were approved by the board of trustees and authorised for issue on 25[th] October 2021, and are signed on behalf of the board by:

J Calvert Trustee

The notes on pages 7 to 11 form part of these financial statements.

Bradford City FC Community Foundation

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 June 2021

1. General information

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Coral Windows Stadium, Valley Parade, Bradford, BD8 7DY, West Yorkshire.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Bradford City FC Community Foundation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2021

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Bradford City FC Community Foundation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2021

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings - 25% reducing balance Motor vehicles - 25% reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

Bradford City FC Community Foundation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2021

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The Company is Limited by Guarantee.

5. Staff costs

The average head count of employees during the year was 25 (2020: 27).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

6. Trustee remuneration and expenses

No trustee received any remuneration in respect of their services during the period (2020: Nil).

7. Tangible fixed assets

Fixtures, fittings and equipment £ Cost At 1 July 2020 48,386 Additions - _ At 30 June 2021 48,386 _ Depreciation At 1 July 2020 33,191 Charge for the year 3,799 _ At 30 June 2021 36,990 _ Carrying amount At 30 June 2021 11,396 _ At 30 June 2020 15,195 _	Motor vehicles £ 54,586 - _ 54,586 _ 42,904 2,921 _ 45,825 _ 8,761 _ 11,682 _	*Total* £ 102,972 - _ 102,972 _ 76,095 6,720 _ 82,815 _ 20,157 _ 26,877 _

Bradford City FC Community Foundation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2021

8. Debtors

Debtors
Trade debtors Other debtors	2021 £ 480 4 _ 484 ______	2020 £ - 4
		_ 4 ______

9. Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Bank loans and overdrafts Other creditors	2021 £ 405 1,150 _ 1,555 _	2020 £ 1,805 1,150
		_ 2,955 _