REGISTERED COMPANY NUMBER: 05513835 (England and Wales) REGISTERED CHARITY NUMBER: 1123679
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 May 2022
for
AEK BOCO FC LTD
Wormald & Partners Chartered Accountants (ICAEW) Redland House 157 Redland Road Redland Bristol BS6 6YE
AEK BOCO FC LTD
Contents of the Financial Statements for the Year Ended 31 May 2022
| 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 |
AEK BOCO FC LTD
Report of the Trustees for the Year Ended 31 May 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2022. The trustees have adopted the provisions of 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
Objectives and aims
The objective of the charity is to promote community participation in healthy recreation through the provision of facilities for playing football.
The main activities of the charity are coaching and arranging amateur association football matches for its members.The membership is open to the wider section of the public.
Grantmaking
The Charity does not make any grants.
Volunteers
The charity is run by volunteers who are not entitled to remuneration.
FINANCIAL REVIEW
Principal funding sources
Charity's principal source of funds are income from member's voluntary subscriptions, registration fees, sponsorships, grants ,donations from the public and Gift Aid payment from the subsidiary etc.
Funds in deficit
There are no funds in deficit.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Tha charity is controlled by its governing document, Memorandum and Articles of Association , and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05513835 (England and Wales)
Registered Charity number 1123679
Registered office
Redland House 157 Redland Road Bristol
Trustees
Mr J Dicks (resigned 16.8.21) Mr C Winter (resigned 16.8.21) J Withey M Coyne (resigned 16.8.21) Mr R Hemmings (appointed 16.8.21) L Howard (appointed 16.8.21) Mr J E Winter (appointed 16.8.21)
Company Secretary
Independent Examiner
Wormald & Partners Chartered Accountants (ICAEW) Redland House 157 Redland Road Redland Bristol BS6 6YE
Page 1
AEK BOCO FC LTD
Report of the Trustees for the Year Ended 31 May 2022
Approved by order of the board of trustees on 16 February 2023 and signed on its behalf by:
J Withey - Trustee
Page 2
Independent Examiner's Report to the Trustees of AEK BOCO FC LTD
Independent examiner's report to the trustees of AEK BOCO FC LTD ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Senior Partner 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 Company as required by Section 386 of the 2006 Act; or 2. 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
-
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 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.
D R Patel Senior Partner Wormald & Partners Chartered Accountants (ICAEW) Redland House 157 Redland Road Redland Bristol BS6 6YE
Date: .............................................
Page 3
AEK BOCO FC LTD
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the Year Ended 31 May 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 254,763 Other trading activities 2 3,482 Investment income 3 4 Other income 210 Total 258,459 EXPENDITURE ON Raising funds 648 Charitable activities Football Club 51,442 Christmas Party 600 Presentation Evening 867 Kids Party 727 Other 46,854 Total 101,138 NET INCOME 157,321 RECONCILIATION OF FUNDS Total funds brought forward 264,178 TOTAL FUNDS CARRIED FORWARD 421,499 |
2021 Total funds £ 63,205 4,200 9 550 |
|---|---|
| 67,964 | |
| - 27,913 - - - 19,887 |
|
| 47,800 | |
| 20,164 244,014 |
|
| 264,178 |
The notes form part of these financial statements
Page 4
AEK BOCO FC LTD
Balance Sheet
31 May 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 290,815 CURRENT ASSETS Debtors: amounts falling due within one year 9 30,025 Investments 10 100 Cash at bank and in hand 105,408 135,533 CREDITORS Amounts falling due within one year 11 (4,849) NET CURRENT ASSETS 130,684 TOTAL ASSETS LESS CURRENT LIABILITIES 421,499 NET ASSETS 421,499 FUNDS 12 Unrestricted funds: General fund 421,499 TOTAL FUNDS 421,499 |
2021 Total funds £ 178,912 20,537 100 69,218 |
|---|---|
| 89,855 (4,589) |
|
| 85,266 | |
| 264,178 | |
| 264,178 | |
| 264,178 | |
| 264,178 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 February 2023 and were signed on its behalf by:
J Withey - Trustee
The notes form part of these financial statements
Page 5
AEK BOCO FC LTD
Notes to the Financial Statements for the Year Ended 31 May 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Preparation of consolidated financial statements
AEK Boco FC Ltd owns 100% shares in it's subsidiary company named as AEK Boco FC Trading Limited.The financial statements contain information about AEK Boco FC Ltd as an individual charitable company and do not contain consolidated financial information as the parent of the group. The Company has taken the option under section 398 of the Companies Act 2006 not to prepare consolidated financial statements.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have 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.
| Club house | - Not Provided (See note below) |
|---|---|
| Fixtures and fittings | - 15% on reducing balance basis |
| Motor vehicles | - 25% on reducing balance basis |
| Computer equipment | - 33.33% on reducing balance |
The directors and trustees have carried out a full impairment review in accordance with FRS 11, as a result of which no depreciation charge is made in respect of Club House on the ground that the estimated residual value is not materially different from its carrying value in the Balance Sheet.
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.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise 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.
Government grants
Government grants are recognised in income when the grant proceeds are receivable provided that the terms of the grant do not impose future performance related conditions, as allowed by the performance model under FRS 102.
Page 6
continued...
AEK BOCO FC LTD
Notes to the Financial Statements - continued
for the Year Ended 31 May 2022
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Charity match | - | 3,700 |
| Kit money | 1,623 | 500 |
| Fund raising events | 1,000 | - |
| Ticket sales | 859 | - |
| 3,482 | 4,200 | |
| INVESTMENT INCOME | ||
| 2022 | 2021 | |
| £ | £ | |
| Deposit account interest | 4 | 9 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2022 | 2021 | |
| £ | £ | |
| Depreciation - owned assets | 19,582 | 3,158 |
3. INVESTMENT INCOME
4.
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2022 nor for the year ended 31 May 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2022 nor for the year ended 31 May 2021.
6. STAFF COSTS
The average number of employees during the year was 0 (2020: 0).
The average monthly number of employees during the year was as follows:
7.
| No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Investment income Other income Total EXPENDITURE ON Charitable activities Football Club Other Total |
2022 2021 Unrestricted fund £ 63,205 4,200 9 550 67,964 27,913 19,887 47,800 |
2022 2021 Unrestricted fund £ 63,205 4,200 9 550 67,964 27,913 19,887 47,800 |
|---|---|---|
| 67,964 | ||
| 27,913 19,887 |
||
| 47,800 |
Page 7
continued...
AEK BOCO FC LTD
Notes to the Financial Statements - continued for the Year Ended 31 May 2022
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| NET INCOME | 20,164 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 244,014 |
| TOTAL FUNDS CARRIED FORWARD | 264,178 |
| 8. | TANGIBLE FIXED ASSETS | ||||||
|---|---|---|---|---|---|---|---|
| Fixtures | |||||||
| Club | and | Motor | Computer | ||||
| house | fittings | vehicles | equipment | Totals | |||
| £ | £ | £ | £ | £ | |||
| COST | |||||||
| At 1 June 2021 | 163,545 | 36,084 | 9,395 | 1,665 | 210,689 | ||
| Additions | - | 128,639 | - | 2,846 | 131,485 | ||
| At 31 May 2022 | 163,545 | 164,723 | 9,395 | 4,511 | 342,174 | ||
| DEPRECIATION | |||||||
| At 1 June 2021 | - | 23,144 | 7,363 | 1,270 | 31,777 | ||
| Charge for year | - | 17,994 | 508 | 1,080 | 19,582 | ||
| At 31 May 2022 | - | 41,138 | 7,871 | 2,350 | 51,359 | ||
| NET BOOK VALUE | |||||||
| At 31 May 2022 | 163,545 | 123,585 | 1,524 | 2,161 | 290,815 | ||
| At 31 May 2021 | 163,545 | 12,940 | 2,032 | 395 | 178,912 | ||
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN | ONE YEAR | |||||
| 2022 | 2021 | ||||||
| £ | £ | ||||||
| Charitable donation receivable | 8,580 | - | |||||
| AEK Boco FC Trading Ltd | 20,576 | 19,872 | |||||
| Gift aid tax refund due | - | 496 | |||||
| Prepayments | 869 | 169 | |||||
| 30,025 | 20,537 | ||||||
| 10. | CURRENT ASSET INVESTMENTS | ||||||
| 2022 | 2021 | ||||||
| £ | £ | ||||||
| Shares in group undertakings | 100 | 100 |
Page 8
continued...
AEK BOCO FC LTD
Notes to the Financial Statements - continued for the Year Ended 31 May 2022
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accrued expenses 12. MOVEMENT IN FUNDS At 1.6.21 £ Unrestricted funds General fund 264,178 TOTAL FUNDS 264,178 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 258,459 TOTAL FUNDS 258,459 Comparatives for movement in funds At 1.6.20 £ Unrestricted funds General fund 244,014 TOTAL FUNDS 244,014 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 67,964 TOTAL FUNDS 67,964 |
2022 2021 £ £ 4,849 4,589 Net movement At in funds 31.5.22 £ £ 157,321 421,499 157,321 421,499 Resources Movemen expended in funds £ £ (101,138) 157,321 (101,138) 157,321 Net movement At in funds 31.5.21 £ £ 20,164 264,178 20,164 264,178 Resources Movemen expended in funds £ £ (47,800) 20,164 (47,800) 20,164 |
2021 £ 4,589 At 31.5.22 £ 421,499 |
2021 £ 4,589 At 31.5.22 £ 421,499 |
2021 £ 4,589 |
|---|---|---|---|---|
| 421,499 | ||||
| 20,164 |
Page 9
continued...
AEK BOCO FC LTD
Notes to the Financial Statements - continued for the Year Ended 31 May 2022
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.6.20 £ 244,014 244,014 |
Net movement in funds £ 177,485 177,485 |
At 31.5.22 £ 421,499 |
|---|---|---|---|
| 421,499 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 326,423 | (148,938) | 177,485 |
| TOTAL FUNDS | 326,423 | (148,938) | 177,485 |
13. RELATED PARTY DISCLOSURES
Amount advanced to 100% subsidiary company AEK Boco FC (Trading) Ltd at 31 May 2021 is £19,872.25 (2020, £17,546.23).
Page 10
AEK BOCO FC LTD
Detailed Statement of Financial Activities for the Year Ended 31 May 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Gift aid from subsidiary Grants Subscriptions Sponsorships Registration Other trading activities Charity match Kit money Fund raising events Ticket sales Investment income Deposit account interest Other income Other income Total incoming resources EXPENDITURE Other trading activities Fund raising exp Charitable activities Trophies and prizes Football equipments and kits Registration fees Pitch maintenance Pitch hire and training cost Presentation evening Kit washing Referee fees Kids party Adults christmas party Tournament expenses Prize money Fines Activity day Support costs Management Rates and water Insurance and licenses Light and heat Carried forward |
2022 £ 400 679 8,580 155,418 73,766 11,348 4,572 254,763 - 1,623 1,000 859 3,482 4 210 258,459 648 - 11,742 4,033 7,082 18,771 867 170 8,229 - 1,754 185 - 76 727 53,636 1,232 4,467 2,414 8,113 |
2021 £ 1,210 496 - 22,500 31,907 4,402 2,690 |
|---|---|---|
| 63,205 3,700 500 - - |
||
| 4,200 9 550 |
||
| 67,964 - 2,950 3,795 339 14,466 1,823 - - 2,362 504 - - 1,660 14 - |
||
| 27,913 109 1,585 4,574 6,268 |
This page does not form part of the statutory financial statements
Page 11
AEK BOCO FC LTD
Detailed Statement of Financial Activities
for the Year Ended 31 May 2022
| Detailed Statement of Financial Activities for the Year Ended 31 May 2022 |
||
|---|---|---|
| Management Brought forward Postage, stationery and advert Motor and travelling expenses Cleaning and sundries Fees and licenses Repairs and renewals Accountancy Data processing Charitable donations paid Professional charges Depn of fixtures & fittings Depn of motor vehicles Depn of computer equipment Total resources expended Net income |
2022 £ 8,113 4,026 569 - 470 7,694 1,440 2,160 2,800 - 17,994 508 1,080 46,854 101,138 157,321 |
2021 £ 6,268 970 910 180 140 1,044 1,488 2,520 1,270 1,938 2,284 677 198 |
| 19,887 | ||
| 47,800 | ||
| 20,164 |
This page does not form part of the statutory financial statements
Page 12