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← Gosforth Fields Sports Association Limited

2024-11-30-accounts

Charity registration number 1126758 (England and Wales)

Company registration number 06431808

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr M Hester Mr P A Williams Mr R Backhouse Ms N E Wileman Mr R Wing Mr M C Loxley Mr R P Milnes Mr A Cope Mr T Hensby Mr C Pass Charity number 1126758 Company number 06431808 Registered office Bubnell Road Off Stubley Drive Dronfield S18 8NP Independent examiner Knowles Warwick Audit Services Limited Charlotte House 500 Charlotte Road Sheffield S2 4ER Bankers NatWest 5 Market Place Chesterfield S40 1TW

(Appointed 1 January 2025) (Appointed 1 February 2025) (Appointed 1 November 2024) (Appointed 1 November 2024) (Appointed 1 November 2024) (Appointed 1 September 2024) (Appointed 1 September 2024)

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

CONTENTS

Page
Trustees' report 1 - 3
Statement of Trustees' responsibilities 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 16

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2024

The trustees present their annual report and financial statements for the year ended 30 November 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

To provide quality sports and changing facilities to the three member clubs (Dronfield Town FC, AFC Dronfield and Dronfield RUFC), in order that local children and adults can enjoy playing the sport of their choice in a safe and friendly environment. Fees are charged for use of the playing surfaces to the individual clubs.

To encourage other sports to use the site and to increase the overall participation in sport.

To run the charity in a financially efficient manner, so that funds can be set aside to upkeep the quality of the facilities and to renew the all-weather pitch.

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

The year saw continued improvement on our bar sales up by 6% after inflationary increases, pitch hire also exceeded expectations these were driven by off season sporting related events augmenting a healthy winter season of football and rugby activity.

Two large charitable events in the summer one football based, the other boxing helped raise significant funds for local charities these will be replicated in forthcoming years assisting worthy local causes.

Increased demand for our recently upgraded All Weather Pitch gave a healthy improvement on prior years turnover, this was partly fuelled by an increase in the number of junior teams in our 3 in house clubs, bringing more local children into a good environment to play sport.

Along with great fundraising activity from Our Rugby club members, we installed new floodlighting to our Rugby training areas allowing the teams to train throughout the year on grass. Again, we have fulfilled our obligation to the Football Foundation providing enough for ATP renewal fund which at the year end totalled £74,763.

Financial review

Bar sales improved by £34k from prior year a real improvement after inflation of 6%, which in shrinking ‘on trade’ drinks market was a good achievement. Our All-Weather Pitch revenue was also up after inflation by 13%. Catering income remained static but other sundry income improved giving an overall turnover increase including inflation of 15% on prior year.

During the year we changed our drinks supplier from Hutton’s to Quando who were offering significant reductions on what is our largest expenditure improving our wet sales margins by 5%. With a full year’s supply from Quando, the margins in the following year’s supply should be even better.

Wages and Salary costs increased in line with the improved Turnover and payroll inflation. Cheaper Electricity reduced our expected Utility spend by 9k. We had several Repair and renewal projects during the year, electrical safety upgrades of 5k, bar area carpet 4k and media improvements of 1.5k these along with other smaller projects exceeded our maintenance budget by 17k. All other costs were in line with expectations.

1

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024

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 to cover at least two month’s staff costs. 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

Gosforth Fields Sports Association Limited is a company limited by guarantee. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

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 W Lumley (Resigned 25 November 2024) Mr R Newton (Resigned 3 September 2024) Mr S Bradwell (Resigned 24 February 2025) Mr M Hester Mr J H Killmartin (Resigned 3 September 2024) Mr P Bramley (Resigned 3 September 2024) Mr P Newton (Resigned 3 September 2024) Mr P A Williams Mr R Backhouse Mr M Witherill (Resigned 25 November 2024) Ms N E Wileman (Appointed 1 January 2025) Mr R Wing (Appointed 1 February 2025) Mr M C Loxley (Appointed 1 November 2024) Mr R P Milnes (Appointed 1 November 2024) Mr A Cope (Appointed 1 November 2024) Mr T Hensby (Appointed 1 September 2024) Mr C Pass (Appointed 1 September 2024)

Recruitment and appointment of trustees

A trustee is appointed by ordinary resolution at the Annual Meeting or otherwise by unanimous agreement of the members providing that they are a member of one of the clubs and that the number of trustees does not exceed the maximum of 10 as set in the Articles of Association, being at least 3 directors appointed by each club and a nonvoting, impartial chairman.

None of the trustees has any beneficial interest in the company.

2

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024

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

Mr M Hester Mr R Wing Trustee Trustee

29 August 2025

3

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 NOVEMBER 2024

The trustees, who are also the directors of Gosforth Fields Sports Association Limited for the purpose 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 trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that 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.

4

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

I report to the trustees on my examination of the financial statements of Gosforth Fields Sports Association Limited (the charity) for the year ended 30 November 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.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, 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 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.

Steven Knowles FCA

Independent Examiner, for and behalf of Knowles Warwick Audit Services Limited Charlotte House 500 Charlotte Road Sheffield S2 4ER 29 August 2025

5

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 NOVEMBER 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
-
25,179
Other trading activities
4
456,206
-
Investments
5
1,020
-
Total income
457,226
25,179
Expenditure on:
Charitable activities
6
448,443
1,679
Total expenditure
448,443
1,679
Net income and movement in funds
8,783
23,500
Reconciliation of funds:
Fund balances at 1 December 2023
63,986
-
Fund balances at 30 November 2024
72,769
23,500		 Total
Unrestricted
funds
2024
2023
£
£
25,179
-
456,206
418,053
1,020
673
482,405
418,726
450,122
393,745
450,122
393,745
32,283
24,981
63,986
39,005
96,269
63,986		 Total
Unrestricted
funds
2024
2023
£
£
25,179
-
456,206
418,053
1,020
673
482,405
418,726
450,122
393,745
450,122
393,745
32,283
24,981
63,986
39,005
96,269
63,986
418,726
393,745
393,745
24,981
39,005
63,986

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

6

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2024

Notes
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Net assets
The funds of the charity
Restricted income funds
19
Unrestricted funds
20		 2024
£
£
1,150,425
7,013
22,082
156,264
185,359
(125,881)
59,478
1,209,903
(1,113,634)
96,269
23,500
72,769
96,269		 2023
£
£
1,196,107
6,766
62,120
76,840
145,726
(78,327)
67,399
1,263,506
(1,199,520)
63,986
-
63,986
63,986

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2024.

The director acknowledges his 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 29 August 2025

Mr M Hester Trustee

Mr R Wing Trustee

Company registration number 06431808 (England and Wales)

7

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

1 Accounting policies

Charity information

Gosforth Fields Sports Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Bubnell Road, Off Stubley Drive, Dronfield, S18 8NP.

1.1 Accounting convention

The financial statements have been prepared in accordance 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)” (as amended for accounting periods commencing from 1 January 2016). 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 applying FRS 102 Update Bulletin 1 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. 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.

Unrestricted funds is comprised of funds that have been generated through charitable activities which are not subject to any such specific usage conditions.

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.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Income from trading activities including bar sales and pitch hire is recognised as the fair value of the consideration received or receivable and is shown net of VAT.

8

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024

1 Accounting policies

(Continued)

1.5 Resources expended

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 involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Resources expended are recognised in the Statement of Financial Activities on an accruals basis.

Expenditure which is directly attributable to charitable activities has been included in this cost category.

Governance costs are those incurred in the management and operation of the charity, both as a charity and a limited company, such as regulatory compliance costs.

1.6 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:

Land and buildings Clubhouse written off over 40 years. AT pitches Over 15 years Building improvements Over 15 years Grass pitches Over 15 years Fixtures, fittings & equipment 20% straight line basis

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.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

9

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

10

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Restricted Restricted
funds funds
2024 2023
£ £
Donations and gifts 25,179 -
4 Income from other trading activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 456,206 418,053
5 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 1,020 673

11

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024

6 Expenditure on charitable activities

Charitable Charitable
activities activities
2024 2023
£ £
Direct costs
Staff costs 110,740 110,287
Depreciation and impairment 87,318 86,964
Direct charitable expenditure 157,552 146,285
Rent and rates 1,037 1,689
Insurance 4,532 4,008
Light and heat 30,836 39,968
Repairs and maintenance 130,109 76,811
Postage and stationery 1,580 822
Telephone and fax 3,044 1,944
Sundry expenses 147 592
Bank charges 5,663 6,766
Grant amortisation (85,886) (85,886)
Accountancy fees 3,220 3,445
Legal and professional fees 230 50
450,122 393,745
Analysis by fund
Unrestricted funds 448,443 393,745
Restricted funds 1,679 -
450,122 393,745

Governance costs includes payments to the accountants of £2,755 (2023: £2,675) for accountancy services.

7 Description of charitable activities

Charitable activities

Direct trading expenditure consists of costs occurred for the provision of sports and changing facilities, including the running of the function room and bar.

8

Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements - -
Depreciation of owned tangible fixed assets 87,318 86,964

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

12

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2024

10 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Other pension costs
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 2024
Number
17
2024
£
106,755
3,985
110,740
2024
£
43,822		 2023
Number
13
2023
£
107,189
3,098
110,287
2023
£
42,000

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

13

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2024

12
Tangible fixed assets
Cost
At 1 December 2023
Additions
At 30 November 2024
Depreciation and impairment
At 1 December 2023
Depreciation charged in the year
At 30 November 2024
Carrying amount
At 30 November 2024
At 30 November 2023
13
Stocks
Finished goods and goods for resale
14
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals		 Land and
buildings
£
2,308,988
41,636
2,350,624
1,113,684
86,672
1,200,356
1,150,268
1,195,304		 Fixtures,
fittings &
equipment
£
21,758
-
21,758
20,955
646
21,601
157
803
2024
£
7,013
2024
£
18,941
3,141
22,082
2024
£
16,036
14,343
95,502
125,881		 Total
£
2,330,746
41,636
2,372,382
1,134,639
87,318
1,221,957
1,150,425
1,196,107
2023
£
6,766
2023
£
46,455
15,665
62,120
2023
£
11,060
19,219
48,048
78,327

14

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2024

16
Creditors: amounts falling due after more than one year
Notes
Deferred income
17
17
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Non-current liabilities
Movements in the year:
Deferred income at 1 December 2023
Released from previous periods
Deferred income at 30 November 2024
18
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
£
1,113,634
2024
£
1,113,634
2024
£
1,113,634
1,199,520
(85,886)
1,113,634
2024
£
3,985		 2023
£
1,199,520
2023
£
1,199,520
2023
£
1,199,520
1,285,406
(85,886)
1,199,520
2023
£
3,098

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 Incoming Resources At 30
December resources expended November
2023 2024
£ £ £ £
Fixed asset funds - 25,179 (1,679) 23,500

15

GOSFORTH FIELDS SPORTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024

20 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 Incoming Resources At 30
December resources expended November
2023 2024
£ £ £ £
General funds 63,986 457,226 (448,443) 72,769
Previous year: At 1 Incoming Resources At 30
December resources expended November
2022 2023
£ £ £ £
General funds 39,005 418,726 (393,745) 63,986
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 30 November 2024:
Tangible assets 1,126,925 23,500 1,150,425
Current assets/(liabilities) 59,478 - 59,478
Long term liabilities (1,113,634) - (1,113,634)
72,769 23,500 96,269
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 30 November 2023:
Tangible assets 1,196,107 - 1,196,107
Current assets/(liabilities) 67,399 - 67,399
Long term liabilities (1,199,520) - (1,199,520)
63,986 - 63,986

21 Analysis of net assets between funds

22 Related party transactions

There were no related party transactions for disclosure during the year (2023 - none).

16