2022-05-31-accounts - Grimsby Town Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Reference and Administrative Details	Reference and Administrative Details
Trustees' Report		2to 6
Statement ofTrustees'	Responsibilities
Independent Auditors'	Report	8to 10
Statement of Financial	Activities	11to 12
Balance Sheet		13
Statement of Cash Flows
Notes to the Financial	Statements	15to 25

		Grimsb	y	Town	Football in the Community Spo	Football in the Community Spo	rts and Education Tr	rts and Education Tr	ust
					Reference and Administrative		Details
Charity	name				Grimsby Town Football	in the Community		Sports and Education	Trust
Charity	Registration		Number		1123447
Company		Registration		Number	6500460
Trustees					SWraith
					C Grocock
					N Massingham
					D Cook
					M Baker
Other Officers					G Rodger, Manager
					J Schofield, C.E.O
Registered		Office			Blundell Park
					Cleethorpes
					North East Lincolnshire
					DN35 7PY
Auditor					Forrester Boyd
					Chartered Accountants
					26 South Saint Mary's	Gate
					Grimsby
					North East Lincolnshire
					DN31 1LW
Bankers					National Westminster	Bank Pic
					Sea View Street
					Cleethorpes
					DN35 SYA

(Including In	come a	nd Expen	diture A	ccount and St and Losses)	atement ofTo	tal Recognise	d Gains
				Unrestricted	Restricted	Total	Total
				funds	funds	2022	2021
			Note	8	F	8	8
income and Endowments		from:
Donations and legacies				1,108		1,108
Charitable activities				196,081	1,016,027	1,212,108	559,969
Other income				3,515	2,455	5,970	49,452
Total Income				200,704	1,018,482	1,219,186	609,421
Expenditure on: Charitable activities				(116,433)	(873,424)	(989,857)	(476,642)
Total expenditure				(116,433)	(873,424)	(989,857)	(476,642)
Net income				84,271	145,058	229,329	132,779
Transfers between	funds			(65,559)	65,559
Net movement in funds				18,712	210,617	229,329	132,779
Reconciliation of	funds
Total funds brought	forward			99,835	131,262	231,097	98,318
Total funds carried	forward		17	118,547	341,879	460,426	231,097

(Including In	come a	nd Expenditure	Account and and Losses)	Statement of T	otal Recognise	d Gains
				Unrestricted	Restricted	Total
			Note	funds f	fundsf	2021f
Income and Endowments		from:
Charitable activities				82,854	477,115	559,969
Other income				(100)	49,552	49,452
Total income				82,754	526,667	609,421
Expenditure on: Charitable activities			5	~(77,577	(399,065)	(476,642)
Total expenditure				(77,577)	(399,065)	(476,642)
Net income				5,177	127,602	132,779
Transfers between	funds			(3,660)	3,660
Net movement in funds				1,517	131,262	132,779
Reconciliation of	funds
Total funds brought	forward			98,318		98,318
Total funds carried	forward		17	99,835	131,262	231,097

				Note	2022	2021f
Fixed assets
Tangible assets				10	24,058	32,743
Current assets
Debtors				11	62,554	61,246
Cash at bank and	in hand			12	481,964	306,306
					544,518	367,552
Creditors: Amounts		falling due within one year		ia	~(108,150	129,846)
Net current assets					436,368	237,706
Total assets less	current		liabilities		460,426	270,449
Creditors: Amounts		falling due after more than one year		14		(39,352)
Net assets					460,426	231,097
Funds ofthe charity:
Restricted income funds
Restricted funds				17	341,879	131,262
Unrestricted income		funds
Unrestricted funds				17	118,547	99,835
Total funds					460,426	231,097

Statem	ent ofCash	Flows for the	Year Ended 31	May 2022
				2022	2021
			Note	6	F
Cash flows from operating	activities
Net cash income				229,329	132,779
Adjustments to cash flows Depreciation Profit on disposal oftangible	from non-cash fixed assets	items		9,256 ~1,122	7,015
				237,463	139,794
Working capital adjustments
Increase in debtors			11	(1,308)	(2,488)
Increase/(decrease) in creditors			13	14,870	(12,979)
(Decrease)/increase in deferred income			14	(65,918)	34,016
Net cash flows from operating	activities			185,107	158,343
Cash flows from investing	activities
Purchase oftangible fixed assets			10	(949)	(21,778)
Sale oftangible fixed assets				1,500
Net cash flows from investing	activities			551	(21,778)
Cash flows from financing	activities
Repayment of loans and borrowings			13	(10,000)
Net increase in cash and cash equivalents				175,658	136,565
Cash and cash equivalents at 1 June				306,306	169,741
Cash and cash equivalents at 31 May				481,964	306,306

Incoming resources from charitable activit	ies
	Unrestricted
	funds	Restricted	Total
	General	funds	2022
		6	6
Grants receivable		1,016,026	1,016,026
Soccer schools and courses	196,081		196,081
	196,081	1,016,026	1,212,107
	Unrestricted
	funds	Restricted	Total
	General 6	fundsf	2021 6
Other Income		2,600	2,600
Grants receivable		474,515	474,515
Soccer schools and courses	72,854		72,854
	72,854	477,115	549,969

3 Other income
			Unrestricted
			funds	Restricted	Total
			General F.	funds F	2022f
Income from Trading		Activities	3,515		3,515
Other Government	Grants			2,455	2,455
			3,515	2,455	5,970
			Unrestricted
			funds	Restricted	Total
			General f	fundsf	2021
Income from Trading		Activities	(100)		(100)
Other Government	Grants		10,000	49,552	59,552
			9,900	49,552	59,452

				Activity	Grant	Activity
				undertaken	funding of	support
				directly f	activity f	costs f	2022f
Facility hire				15,226	3,978		19,204
Employment	costs			474,816	67,597		542,413
Direct project	costs			298,868	15,688		314,556
Staff training				13,900	6,255		20,155
Establishment	costs			26,344	5,018		31,362
Repairs and maintenance				10,938	2,084		13,022
Office expenses				2,612	498		3,110
Stationery, postage		& advertising		13,453	3,889		17,342
Sundry and other costs				1,135	216		1,351
Auditors remuneration						8,000	8,000
Legal and professional			costs			7,163	7,163
Bank charges				3,399	647		4,046
Depreciation	oftangible		fixed assets		9,256		9,256
Profit on sale	ofasset				(1,122)		(1,122)
				860,691	114,004	15,163	989,858
				Activity	Grant	Activity
				undertaken	funding of	support
				directly f	activity	costs f	2021f
Facility hire				115	880		995
Employment	costs			281,120	44,133		325,253
Direct project	costs			47,509	7,316		54,825
Staff training				4,215	7,224		11,439
Establishment	costs			24,588	4,284		28,872
Repairs and maintenance				16,956	2,760		19,716
Office expenses				4,977	810		5,787
Stationery, postage		&advertising		4,059	629		4,688
Sundry and other costs				912	148		1,060
Auditors remuneration						7,200	7,200
Legal and professional			costs			8,113	8,113
Bank charges				1,444	235		1,679
Depreciation	oftangible		fixed assets		7,015		7,015
				385,895	75,434	15,313	476,642

Restricted	income
Unrestricted	Income
Restricted	Income
Unrestricted	Income
Basis ofallocation:
A- Income	Levels

	Other
	sUpport	Total
Basis of allocation	costs f	2022f
A	12,434	12,434
A	2,729	2,729
	15,163	15,163
	Other
	svpport	Total
Basis of allocation	costsf	2021f
A	13,169	13,169
A	2,144	2,144
	15,313	15,313

Governance costs
			Unrestricted
			funds	Restricted	Total
			General f.	fundsf	funds
Audit fees
Audit ofthe financial statements			800	4,200	5,000
Other fees paid to auditors			480	2,520	3,000
Legalfees			1,146	6,017	7,163
Depreciation, amortisation and other similar costs			(1,121)		(1,121)
Total for 2022			1,305	12,737	14,042
Total for 2021			2,144	13,169	15,313
6 Net incoming/outgoing	resources
Net incoming resources for	the year include:
				2022	2021f
Auditor's remuneration - audit fees				5,000	2,500
Auditor's remuneration - other non-audit		services		3,000	3,500
Profit on disposal oftangible Depreciation offixed assets	fixed assets			(1,121) 9,256	7,015

The aggregate	payroll costs were as follows:
		2022	2021
Wages and salaries		509,219	303,940
Social security	costs	26,892	16,119
Pension costs		6,301	5,194
		542,412	325,253

10Tangible fixed assets
	Plant and
	machinery
	including	Fixtures,
	motor	fittings and
	vehicles	equipment f	Total
Cost
At 1 June 2021	39,104	42,092	81,196
Additions Disposals	~(5,10~	949	949 (5,109)
At 31 May 2022	33,995	43,041	77,036
Depreciation
At 1 June 2021	13,928	34,524	48,452
Charge for the year	4,959	4,297	9,256
Eliminated on disposals	(4,730)		(4,730)
At 31 May 2022	14,157	38821	52 978
Net book value
At 31 May 2022	19,838	4220	24 058
At 31 May 2021	25,176	7,568	32,744
11Debtors
		2022	2021
		f.	F
Trade debtors		35,952	26,974
Prepayments		2,481	31,691
Accrued income		22,911	1,572
Other debtors		1,210	1,009
		62,554	61,246
12Cash and cash equivalents
		2022f	2021f
Cash at bank		481,964	306,306

13Creditors: amo	unts falling d	ue within one year
			2022f	2021f
Bankloans			40,000	10,648
Trade creditors			27,479	35,186
Other taxation and	social security		7,468	3,623
Other creditors			8,112	6,483
Accruals			25,091	7,988
Deferred income				65,918
			108,150	129,846
			2022f	2021f
Deferred income at 1 June 2021			65,918	31,902
Resources deferred	in the period			34,016
Amounts released	from previous	periods	(65,918)
Deferred income at year end				65,918

14Creditors: amounts	falling	due after one year
			2022f	2021f
Bank loans				39,352
15Pension and other	schemes
Defined contribution	pension	scheme

17Funds
				Balance at 1 June 2021 f	Incoming resources f	Resources expended f	Transfers f	Balance at 31 May 2022 f
Unrestricted		funds
General
Unrestricted		fund		99,835	200,704	(116,433)	(65,559)	118,547
Restricted	funds
NCS				42,523	435,855	(338,955)		139,423
Futsal				50,024	165,342	(100,681)		114,685
PL Primary		Stars		10,440	40,000	(17,235)		33,205
PL Kicks				7,462	20,000	(12,257)		15,205
EFL				15,070	21,674	(12,154)		24,590
Bishop Grosseteste Funding				5,743	5,575	(4,411)		6,907
Erasmus	Funding				60,426	(96,036)	35,610
HAF Project					214,455	(212,086)		2,369
Other					25,155	(46,349)	21,194
BSB					10,000	(4,505)		5,495
HLC					20,000	(28,755)	8,755
Total restricted			funds	131,262	1,018,482	(873,424)	65,559	341,879
Total funds				231,097	1,219,186	(989,857)		460,426
				Balance at 1 June 2020 f	Incoming resources	Resources expended f	Transfers f	Balance at 31 May 2021 f
Unrestricted		funds
General
Unrestricted		fund		98,318	82,754	(77,577)	(3,660)	99,835
Restricted
NCS					182,692	(140,169)		42,523
Futsal					169,825	(119,801)		50,024
PL Primary		Stars			40,000	(29,560)		10,440
PL Kicks					21,825	(14,363)		7,462
EFL					40,500	(25,430)		15,070
Bishop Grosseteste Funding					15,591	(9,848)		5,743
Other					6,682	(10,342)	3,660
Total restricted			funds		477,115	(349,513)	3660	131262
Total funds				98,318	559,869	(427,090)		231,097

					Total funds
			Unrestricted		at 31 May
			Funds	Restricted	2022
			E	E	E
Tangible	fixed assets		24,058		24,058
Current assets Current liabilities			202,639 ~108,150	341,879	544,518 ~(108,150
Total net assets			118,547	341,879	460,426
			Unrestricted		Total funds
			funds	Restricted	at 31 May
			General	funds	2021
			F	E.
Tangible	fixed assets		32,743		32,743
Current	assets		170,376	197,176	367,552
Current	liabilities		(63,932)	(65,914)	(129,846)
Creditors	over 1 year		(39,352)		(39,352)
Total net assets			99,835	131,262	231,097
19Analysis of net funds
				Other non
		At 1 June	Financing	cash	At 31 May
		2021	cash flows	changes	2022
		E	F	E	E
Cash at	bank and in hand	306,306	175,658		481,964
Debt due within one year		(10,648)	10,000	(39,352)	(40,000)
Debt due after more than one year		(39,352)		39,352
Net debt		256,306	185,658		441,964