Warminster Highbury Youth Football Club (WHYFC)
TRUSTEES’ ANNUAL REPORT INCLUDING INDEPENDENT EXAMINER’S REPORT 2024
Financial Period 1[st] June 2023 – 31[st] May 2024
Summary:
This report covers the operating activities of our youth football club throughout the season 2023/24 and for the full financial year 1[st] June 2023 to 31[st] May 2024.
During the year the club has continued to strengthen in terms of attracting new players and coaches who are participating across our year groups whilst bolstering the committee with new members.
During the year the following were members of the committee:
| Chairman | - Andy Brunning | Player Pathway/Fundraising | - Claudia Zuniga-Chantley |
|---|---|---|---|
| Secretary | - Jenny Brunning | Media Coordinator | - Kelly Vaughan-Watkins |
| Welfare Officer | - Jason Mann | Committee member | - Jamie McAlpine |
| Kit Manager | - Amy Kendall | Treasurer | - Oli Watts |
Financial Headlines:
During the season 2023/24 the club posted a net surplus of income over expenditure of £8,668 for all operations in the year 2023/2024 and maintained in a healthy net charitable funds position with a growth in Total Charity Funds to £44,126 as at the end of 31[st] May 2024.
1 - Financial Activities report
Income
Total Income of £55,963 has increased by almost £8,000 over the year before. This is due in the main to an increase in money from monthly subscriptions: because of a higher number of subscribing players but also contributed to by a small increase in monthly subscription charges and signing fees. An increase in income was also supported by an increase in donations and fundraising and an increase in income from Tea Hut activities.
Expenditure
Total Expenditure of £47,295 was over £6,890 lower than the year before. As anticipated, a significant amount of equipment and kit purchased in the prior season carried forward into this year. This has meant that costs remain well-controlled and in line with expected levels to support operational activities across the club and for all teams this season.
2 – Balance Sheet & Trial Balance reports
Net Current Assets
Total Fixed Assets of £2,964 include IT Equipment purchases and some small elements of fixtures & fittings costs. Total Cash at bank and in hand of £41,163 is mainly made up of a savings account of £37,918 and a current account balance of £3,243.
Total Charity Funds
As at 31[st] May 2024, our club has a Total Charity Funds position of £44,126. This is an increase on last year of almost £8,670. This is a healthy financial position and one that ensures that the club remains in a position to meet all obligations that are likely to fall due in the next 24 months. However, it is worth highlighting that there are a number of areas that will likely require increased expenditure and investment in the next 1-3 years such as ground maintenance of our owned Highbury pitch, surrounding fencing and ongoing maintenance and upkeep of the Highbury club house. Our intention is to confirm a reserves policy for the club during the close season – in preparation for season 24/25.
3 – Independent Examiner’s Report & Statement
Highbury Youth FC
Financial Activities
June 2023 - May 2024
| Note 1 Note 2 Note 3 Note 4 |
TOTAL |
|---|---|
| JUN 2023 - MAY 2024 JUN 2022 - MAY 2023 (PP) |
|
| Income Donations and legacies 6,046.70 350.00 Fundraising 115.30 1,556.00 Gift Aid 3,369.46 Interest 351.69 97.86 Monthly Subs 45,450.88 37,167.67 Sponsorship 1,498.92 3,650.00 Tea Hut Income 2,499.70 1,774.49 |
|
| Total Income £55,963.19 £47,965.48 |
|
| TOTAL £55,963.19 £47,965.48 Expenditures Advertising/Promotional 78.00 286.19 Computer Costs 130.25 Equipment 11,637.19 10,059.51 Fines 12.00 67.00 Ground Maintenance 4,968.00 13,518.07 Insurance 277.10 692.10 Kit 6,069.75 3,629.68 League/County Fees 2,193.00 923.00 Membership/Subs Refund 1,132.00 830.00 Office/General Administrative Expenses 61.99 372.92 Other Professional Services 1,600.00 1,584.20 Phone Costs 166.77 Presentation Day 867.76 3,053.67 Printing, Postage and Stationery 204.38 963.56 Qualifications and Training 1,533.00 4,041.81 Raising funds 40.00 139.24 Referee Fees 1,595.00 748.00 Social Events 170.50 1,059.67 Tea Hut 2,408.13 1,633.42 Tournament Fees 60.00 Training /Matchday Facility Hire 11,023.90 9,879.25 Utilities 1,126.09 645.48 |
|
| Total Expenditures £47,294.81 £54,186.77 |
|
| NET OPERATING INCOME £8,668.38 £ -6,221.29 |
|
| NET INCOME/(EXPENDITURE) £8,668.38 £ -6,221.29 |
Notes to accounts
Note 1 : Total income from monthly subscriptions has increased year on year by over 22% - driven by higher number of players overall and a small increase in monthly subscription fees across the board.
Note 2 : Tea-Hut income remains a useful source of income – however it is not simple to separately identify money made by the teahut.
Note 3 : Equipment costs increased in large part due to an investment in goals, nets, balls and other equipment. The large equipment purchases last year secured a discount to full price and ensured that we have spent less on replenishing equipment in this year’s financial accounts.
Note 4 : Training and Matchday Facility Hire increased by almost !2% as hire costs increased across the board at the pitch hire venues that we use around Warminster. Also, a greater number of teams playing means that we have taken an increased number of slots per week during the playing season – which also has an impact on increasing costs.
272
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Highbury Youth FC
Balance Sheet
As of May 31, 2024
| TOTAL | |||
|---|---|---|---|
| AS OF MAY 31, 2024 | AS OF MAY 31, 2023 (PP) | ||
| Fixed Asset | |||
| Tangible assets | |||
| Fixtures and Fittings Cost | 286.97 | ||
| Office Equipment Cost | 2,676.94 | ||
| Total Tangible assets | £2,963.91 | £0.00 | |
| Total Fixed Asset | £2,963.91 | £0.00 | |
| Cash at bank and in hand | |||
| Current Account 3690 | 3,242.97 | 4,326.11 | |
| Savings 0968 | 37,917.71 | 31,131.92 | |
| Subs/Membership 0286 | 1.82 | 0.00 | |
| Total Cash at bank and in hand | £41,162.50 | £35,458.03 | |
| NET CURRENT ASSETS | £41,162.50 | £35,458.03 | |
| NET CURRENT ASSETS (LIABILITIES) | £41,162.50 | £35,458.03 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | £44,126.41 | £35,458.03 | |
| TOTAL NET ASSETS (LIABILITIES) | £44,126.41 | £35,458.03 | |
| Charity funds | |||
| Retained Earnings | 35,458.03 | 41,679.32 | |
| Surplus/(Deficit) | 8,668.38 | -6,221.29 | |
| Total Charity funds | £44,126.41 | £35,458.03 |
898
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Highbury Youth FC
Trial Balance
As of May 31, 2024
| DEBIT | CREDIT | |
|---|---|---|
| Cash on hand | 0.00 | |
| Current Account 3690 | 3,242.97 | |
| Savings 0968 | 37,917.71 | |
| Subs/Membership 0286 | 1.82 | |
| Fixtures and Fittings Cost | 286.97 | |
| Office Equipment Cost | 2,676.94 | |
| Opening Balance Equity | 0.00 | |
| Retained Earnings | 35,458.03 | |
| Donations and legacies | 6,046.70 | |
| Fundraising | 115.30 | |
| Interest | 351.69 | |
| Monthly Subs | 45,450.88 | |
| Sponsorship | 1,498.92 | |
| Tea Hut Income | 2,499.70 | |
| Advertising/Promotional | 78.00 | |
| Computer Costs | 130.25 | |
| Equipment | 11,637.19 | |
| Fines | 12.00 | |
| Ground Maintenance | 4,968.00 | |
| Insurance | 277.10 | |
| Kit | 6,069.75 | |
| League/County Fees | 2,193.00 | |
| Membership/Subs Refund | 1,132.00 | |
| Office/General Administrative Expenses | 61.99 | |
| Other Professional Services | 1,600.00 | |
| Phone Costs | 166.77 | |
| Presentation Day | 867.76 | |
| Printing, Postage and Stationery | 204.38 | |
| Qualifications and Training | 1,533.00 | |
| Raising funds | 40.00 | |
| Referee Fees | 1,595.00 | |
| Social Events | 170.50 | |
| Tea Hut | 2,408.13 | |
| Training /Matchday Facility Hire | 11,023.90 | |
| Utilities | 1,126.09 | |
| TOTAL | £91,421.22 | £91,421.22 |
383
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Report to the members of:
Warminster Highbury Youth FC
On accounts for the year ended:
31 May 2024
Respective responsibilities of trustees and examiner
The Treasurer as appointed by Warminster Highbury Youth FC is responsible for the preparation of the accounts. The Committee consider that full in depth audit is not required for this year and that a thorough independent examination is needed.
It is my responsibility to:
examine the accounts. confirm that the figures present a true and fair view of the position. to state whether particular matters have come to my attention.
Basis of independent examiner’s My examination was carried out in accordance with general statement Directions given by the Warminster Highbury Youth FC and Accountancy bodies. An examination includes a review of the accounting records kept by the Treasurer 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 Treasurer 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.
Partners: Sam Gooding FMAAT FMATT FIAB Katy Gooding BSc FCA Company No: 09087439 Registered in England and Wales as; Gooding Accounts Ltd Registered Office: 24 Warminster Road, Westbury, Wiltshire, BA13 3PE
Independent examiner's In connection with my examination, no matter has come to my statement attention
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with regular Accounting procedures.
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to prepare accounts which accord with the accounting records and comply with the necessary accounting requirements of the Warminster Highbury Youth FC.
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have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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which would give rise to any concern in relation the full disclosure of all financial matters in relation to the Warminster Highbury Youth FC.
Signed: Date: 19/03/2025 ~~|~~ Name: Katy Gooding ~~Po~~ Relevant professional ICAEW qualification(s) or body: Address: Gooding Accounts Ltd 24 Warminster Road, Westbury Wiltshire BA13 3PE