2021-02-28-accounts - Stonebridge Boxing Club

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Chartiy Number 1136707

STONEBRIDGE BOXING CLUB

Report and Accounts

28 February 2021

STONEBRIDGE BOXING CLUB

Trustees' Report

The trustees present their report and the unaudited financial statements of the charity for the year ended 28 February 2021.

REFERENCE AND ADMINSTRATIVE DETAILS

Registered charity name Stonebridge Boxing Club Charity registration number 1136707 Principal office Ujima House

Ujima House 388 High Road Wembley HA9 6AR

PRINCIPAL OBJECTIVE

The principle activities and objective of the charity is the promotion of community participation for the benefit of the inhabitants of stonebridge by the provision of facilities and opportunties for boxing.

THE TRUSTEES

The trustees who served the company during the period were as follows:

Mr Bilal Raja Mr Naim Osmani Mr Aamir Ali

Independent examiner

Accountancy Tax Direct 23 Montague Road Uxbridge Middlesex UB8 1QL

Bankers

HSBC Bank 1 Regina Road Southall Middlesex UB2 5PL

STONEBRIDGE BOXING CLUB

Trustees' Report

OBJECTIVE AND ACTIVITIES Our Aims and Objectives

Our charity's purposes, aims and objectives are as set out in the club's constitution are:

To improve the lives of children and young people considered At Risk or NEET
To work in partnership with relevant organizations and offer a mentoring service to compliment physical training in order to engage and sustain vulnerable and inactive members of the society.
To work with the local authority in order to work effectively and promote good practice.
To progress young people into sports, fitness, health and wellbeing as a career.
To use boxing as an activity to decrease the number of young people entering the criminal justice system or re offending.
To aid in the deterrence of children and young people joining gangs
To engage more women to keep fit and live a healthy lifestyle
To engage a diverse range of attendees to the club. Those with disabilities, learning difficulties, mental health, the elderly and those from BME backgrounds.
To promote the club and all its activities.
To promote membership of the club within the local community.
To promote the delivery of Amateur Boxing throughout the Brent LA area.
To offer coaching and competitive opportunities in Amateur Boxing.

We review our aims and objectives at the AGM every year to ensure we are on track with our overall mission.

Boxing and Training

We continue to focus our work on benfitting the immediate and wider community being based in the London Borough of Brent with boxing training being our core activity and is our priority service to all beneficiaries who access our services. As with last year, and as always, we engage; all ethnicities, female and male, children, young people and adults of all abilities. Our membership has increased since our move to the new premises on the Wembley High Road, with the public able to access us with ease, it has increased to double of what we had in out previous facility. We believe our location aids in improving people's life cirucumstances; fitness and health benefits, reduction in isolation in older people, give women the opportunity to socialise, learn about health and to be part of the solution of reducing violent crimes amongst young people. We are proud to have an additional professional boxer and now have 2 from our club.

ACHEIVEMENT AND PERFORMANCE

Over the last financial year, Stonebridge Boxing Club has met all the targets set, and in some areas have exceeded them (membership numbers). Demand has increased and we have changed our timteable to meet the needs of our boxers and our increased number of beneficiaries who attend for health and fitness reasons. The children and young people's sessions have increased with demand too, giving more focus to younger amateur boxers. As always, we are proud to be engaging inactive women, older peeople and young people who maybe at risk of being involved with the criminal justice system or known to them already.

We received funding from Brent Community Infrastructure Levy Fund, this contribution was key to fitting out our new premises and ongoing costs, more like an investment for long term success for us and the residents of Brent. As per our plans last year, we were honored to receive funding from the L&Q Foundation for women's only sessions, Young people at risk and older people from the community. We over achieved our registration and attendance numbers on these sessions.

STONEBRIDGE BOXING CLUB Trustees' Report

RISK MANAGEMENT

The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that the systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

PLANS FOR FUTURE PERIODS

Stonebridge Boxing Club will continue to provide boxing training to the above mentioned groups, and increase it's offer to at risk young people, women only session and add sessions for vulnerable adults or those considered NEET (Not In Employment Education and Training). These will be delivered by applying for the right funding and are at present looking to make an application to the City Bridge Trust for a project centering around ex offenders and vulnerable young people.

With the support of the London Marathon Foundation, Sports England and Brent Council we are yet again looking for a new premises as we are in a building which will be redeveloped by the council. We have won stage 1 of a tender to re develop a derelict building in a park managed by Brent Council. We are at negotiation stages, and will be looking for further finance and support to take this project to it's final stages.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is controlled by it's constitution, The directors of the charitable company are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. Under the articles of association the board of trustees appoint new trustees who are required to stand for election at the next Annual General Meeting.

Organisatlonal structure

The Organisation is governed by a voluntary Board of Trustees. The Board consists of 3 trustees, who are responsible for ensuring that the Organisation fulfils its responsibilities in relation to both Charitable and Company law. The Director who oversees the strategic and operational management of the Organisation, report to the Chair of the Trustees. Other staff include a Head coach and coaches keeping services are managed in-house. The Organisation engages external consultants/organisations for short pieces of work when required such as a fundraiser.

Induction and training of new trustees

New Trustees are provided with an induction pack and an update on the progress of the organisation and any other relevant information. Skills of trustees are assessed and training provided where necessary.

STONEBRIDGE BOXING CLUB Trustees' Report

RESPONSIBILITIES OF THE TRUSTEES

The Charity's trustees are responsible for the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the statement of affairs of the charity and of the incoming resources and application of charity 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 Charities SORP;
make judgements and estimates that are reasonables and prudent;
state whether applicable 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 inappropriates to presume that the charity will continue in operation.

The trustees are responsible for keeping proper 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 Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. The trustees are also responsibile for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and irregularities.

Approved by the board of Trustees and signed on its behalf by 15 November 2021.

Mr Aamir Ali Director

STONEBRIDGE BOXING CLUB Independent Examiner's Report

Independent examinar's report to STONEBRIDGE BOXING CLUB

I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2021.

Responsibiles 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

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
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.

Firoz Kassam Accountancy Tax Direct 23 Montague Road Uxbridge Middlesex UB8 1QL

15 November 2021

STONEBRIDGE BOXING CLUB Statement of Financial Activities

for the year ended 28 February 2021

Notes Incoming resources Income resources from generated Funds Grants and Donation 4 Gym Income Direct charitable expenditure 5 Management and administration of the charity 6 Total resources expended 7 Net incoming resources for the Period Net incoming resources before tax Tax on profit on ordinary activities 8 Net incoming resources for the year Total funds brought forward Total funds carried forward	Restricted Funds 2021 £ 76,927 0 76,927 -76927 (76,927) - - - 64048 64,048	Unrestricted Funds 2021 £ 77,584 19,593 97,177 -84415 -7955 (92,370) 4,807 4,807 4,807 30,557 35,364	2021 £ 154,511 19,593 174,104 (161,342) (7,955) (169,297) 4,807 4,807 - 4,807 94,605 99,412	2020 £ 111,337 65,521 176,858 (145,104) (26,698) (171,802) 5,056 5,056 - 5,056 25,501 30,557

STONEBRIDGE BOXING CLUB

Balance Sheet

as at 28 February 2021

Notes Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 11 Net assets Accumulated Funds Restricted Unrestricted	2021 £ 104,171 48,761 (3,520) 45,241 149,412 (50,000) 99,412 64,048 35,364 99,412	2020 £ 93,795 6,938 (6,128) 810 94,605 - 94,605 64,048 30,557 94,605

Forthe period ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act,

• the directors acknowledge their responsibilities for complying witfi the requirements of the Act with respect to accounting records and the preparation of accounts These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board on 15 November 2021

Mr Aamir Ali Director

STONEBRIDGE BOXING CLUB Notes forming part of the financial statements for the year ended 28 February 2021

1 Accounting policies

Accounting Convention

The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards and the requirements of the Statement of Recommended Practice'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005).

Fund Accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Incoming Resources

Recognition of Incoming Resources

These are included in Statement of Financial Activities (SoFA)when:

the charity became entitled to the resources;
the trustees are virtually certain they will receive the resources; and
the monetary value can be measured with sufficient reliability.

Incoming resources with related expenditure

Where incoming resources have related expenditure (as with fund raising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.

Grants and Donations

Grants and donations are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Resources Expended

All expenditure will be recognised in the period in which a liability is incurred and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset' use. Other support costs are allocated based on the spread of staff Cost of generating

Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. It is calculated at the following rates:

Plant and machinery

10% reducing balance method

STONEBRIDGE BOXING CLUB

Notes forming part of the financial statements for the year ended 28 February 2021

2 Staff salaries were as follows

Salaries and wages Freelance coaches Average number of monthly employees	2021 £ 30,049 49,953 80,002 7	2020 £ 46,332 9,845 56,177 7

No employees received remuneration of more than £60,000 during the year (2020 £NIL)

3 Trustee's remuneration

During the year one of the trustee was paid a salary of £6,240 (2020 £7,200) for the following services provided:

Full time administrative work for the club
Full time secretarial work for the club
Managing full time for the day to day running of all the projects and staff
Bring all the opportunity for the club

4 Grants and donations

Restricted £ Sponsorship - L & Q - L B Brent - Lyoness 35,000 ESC Lottery Fund 9,813 Furlough 28,114 Bernard Morris Trus Rtn Donatio - Main Grant - Hoare Trustees The Makin Fami - Wembley national WNST 4,000 Instante - 76,927	Unrestricted £ - - 67,584 - - - - - 10,000 - - 77,584	2021 Total £ - - 67,584 35,000 9,813 28,114 - - 10,000 4,000 - 154,511	2020 Total £ 2,000 5,000 68,059 - - 5,000 8,328 10,000 12,000 950 111,337

STONEBRIDGE BOXING CLUB

Notes forming part of the financial statements for the year ended 28 February 2021

5 Direct charitable expenditure

Staff training and welfare Trustee's salary Wages & Freelance coaches Rent Telephone and fax Motor expenses Travel and subsistence Postage Stationery and printing Advertising and PR Cleaning Sundry Subscription Bank charges Insurance Repairs and maintenance Amortisation of lease Depreciation	Restricted £ 60,914 11,113 - 4,900 - 76,927	Unrestricted £ 16,337 6,240 19,088 114 337 2,381 6,191 264 425 2,970 1,709 162 1,240 1,646 672 10,564 4,500 9,575 84,415	2021 Total £ 16,337 6,240 80,002 11,227 337 2,381 6,191 264 425 2,970 1,709 162 1,240 1,646 672 15,464 4,500 9,575 161,342	2020 Total £ 14,085 7,200 56,177 29,508 - 2,446 8,529 455 150 4,928 1,745 - 3,055 1,967 681 3,756 - 10,422 145,104

6 Management and Administration of the charity

Restricted Other legal and professional 0 Accountancy 0 - Total resources expended Depreciation £ Direct charitable Expenditure 14,075 Management and Administration of the charity - 14,075	Unrestricted 5,955 2,000 7,955 Other Costs £ 147,267 7,955 155,222	2021 Total £ 5,955 2,000 7,955 2021 Total £ 161,342 7,955 169,297	2020 Total £ 24,898 1,800 26,698 2020 Total £ 145,104 26,698 171,802

7 Total resources expended

STONEBRIDGE BOXING CLUB Notes forming part of the financial statements for the year ended 28 February 2021

8 Taxation

No corporation tax has been provided in the financial statements as Stonebridge boxing club registered and is within the exemption granted by section 505 of the Income and Corporation Taxes Act 1988.

9 Tangible fixed assets

Cost At 1 March 2020 Additions At 28 February 2021 Depreciation At 1 March 2020 Charge for the year At 28 February 2021 Net book value At 28 February 2021 At 29 February 2020	Leasehold premises £ 8,063 22,500 30,563 8,063 4,500 12,563 18,000 -	Plant and machinery etc £ 171,396 1,951 173,347 77,601 9,575 87,176 86,171 93,795	Total £ 179,459 24,451 203,910 85,664 14,075 99,739 104,171 93,795

lease is being written off in equal annual instalments over its estimated economic life of 5 years.

10 Creditors: amounts falling due within one year Other taxes and social security costs Other creditors Creditors: amounts falling due after one year 11 Bank loans	2021 £ 694 2,826 3,520 2021 £ 50,000	2020 £ 1,256 4,872 6,128 2020 £ -

12 Analysis of net assets

	Unrestricted	Restricted	Total
	Funds	Funds	Funds
	£	£		£
Tangible fixed assets	63,725	40,446		104,171

STONEBRIDGE BOXING CLUB

Notes forming part of the financial statements for the year ended 28 February 2021

Current assets Current liabilities Long term liability Net assets at 28 Feburary 2019 13 Movement of funds Unresticted Funds Restricted funds Restricted funds Gym Equipment Rent Repair & Maintenance Wages & Freelance coaches	At 01 Mar 2020 £ (30,557) (64,048) (94,605) At 01 Mar 2020 £ 40,446 23,602 - - 64,048	25,159 (3,520) (50,000) 35,364 Incoming resources £ (97,177) (76,927) (174,104) Incoming resources £ 11,113 4,900 60,914 76,927	23,602 - 64,048 Outgoing resources £ 92,370 76,927 169,297 Outgoing resources £ 11,113 4,900 60,914 76,927	48,761 (3,520) (50,000) 99,412 At 28 Feb 2021 £ (35,364) (64,048) (99,412) At 28 Feb 2021 £ 40,446 23,602 - - 64,048