REGISTERED COMPANY NUMBER: 06893825 (England and Wales) REGISTERED CHARITY NUMBER: 1137671
Report of the Trustees and
Financial Statements for the Year Ended 31 August 2020
for
Queensbury Celtic Football Club Limited
Sharp Accountants 8 Allison Terrace Kirkhamgate Wakefield West Yorkshire WF2 0SL
Queensbury Celtic Football Club Limited
Contents of the Financial Statements for the Year Ended 31 August 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Queensbury Celtic Football Club Limited
Report of the Trustees for the Year Ended 31 August 2020
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 August 2020. 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
To advance the physical education of young people in West Yorkshire up to the age of 18 by coaching in and providing facilities for the game of football so as to develop their physical, mental and spiritual capabilities to enable them to grow to full maturity as individuals and members of society.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06893825 (England and Wales)
Registered Charity number
1137671
Registered office
23 Speeton Avenue Bradford West Yorkshire BD7 4NQ
Trustees
J A Peel S J Sharp H Pearson G Hunt R Naylor A P Stead (resigned 30/9/20) A Ellis (resigned 31/10/20) Mrs S Parnaby R J Peel (appointed 20/1/20) A C Maurice (appointed 28/1/21) M D Swales (appointed 28/1/21) I R Sykes (appointed 1/3/21)
Company Secretary
R Naylor
Page 1
Queensbury Celtic Football Club Limited
Report of the Trustees
for the Year Ended 31 August 2020
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Sharp Accountants 8 Allison Terrace Kirkhamgate Wakefield West Yorkshire WF2 0SL
CHARITABLE STATUS
The company registered as a charity on 1 September 2010.
Approved by order of the board of trustees on 11 May 2021 and signed on its behalf by:
S J Sharp - Trustee
Page 2
Independent Examiner's Report to the Trustees of Queensbury Celtic Football Club Limited
Independent examiner's report to the trustees of Queensbury Celtic Football Club Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2020.
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
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.
Darren Sharp FCCA Sharp Accountants Kirkhamgate WF2 0SL
11 May 2021
Page 3
Queensbury Celtic Football Club Limited
Statement of Financial Activities for the Year Ended 31 August 2020
| 31/8/20 Unrestricted Restricted Total fund funds funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 105,543 - 105,543 Investment income 2 31 - 31 Total 105,574 - 105,574 EXPENDITURE ON Raising funds 49,431 - 49,431 Charitable activities Costs of generating funds - - - Other 7,747 - 7,747 Total 57,178 - 57,178 NET INCOME 48,396 - 48,396 RECONCILIATION OF FUNDS Total funds brought forward 197,866 650,093 847,959 TOTAL FUNDS CARRIED FORWARD 246,262 650,093 896,355 |
31/8/19 Total funds £ 393,217 63 |
|---|---|
| 393,280 30,817 60 3,303 |
|
| 34,180 | |
| 359,100 488,859 |
|
| 847,959 |
The notes form part of these financial statements
Page 4
Queensbury Celtic Football Club Limited
Balance Sheet
31 August 2020
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 356,997 CURRENT ASSETS Stocks 7 1,760 Debtors 8 100 Cash at bank and in hand 34,436 36,296 CREDITORS Amounts falling due within one year 9 (5,650) NET CURRENT ASSETS 30,646 TOTAL ASSETS LESS CURRENT LIABILITIES 387,643 CREDITORS Amounts falling due after more than one year 10 (141,381) NET ASSETS 246,262 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 648,093 - - 2,000 2,000 - 2,000 650,093 - 650,093 |
31/8/20 Total funds £ 1,005,090 1,760 100 36,436 38,296 (5,650) 32,646 1,037,736 (141,381) 896,355 246,262 650,093 896,355 |
31/8/19 Total funds £ 862,370 1,350 - 134,720 136,070 (4,764) 131,306 993,676 (145,717) 847,959 197,866 650,093 847,959 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
Page 5
continued...
Queensbury Celtic Football Club Limited
Balance Sheet - continued 31 August 2020
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 11 May 2021 and were signed on its behalf by:
S J Sharp - Trustee
H Pearson - Trustee
The notes form part of these financial statements
Page 6
Queensbury Celtic Football Club Limited
Notes to the Financial Statements for the Year Ended 31 August 2020
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.
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.
Fixtures and fittings - 15% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
continued...
Page 7
Queensbury Celtic Football Club Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31/8/20 | 31/8/19 | |
| £ | £ | |
| Deposit account interest | 31 | 63 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 31/8/20 | 31/8/19 | |
| £ | £ | |
| Depreciation - owned assets | 703 | 829 |
3. NET INCOME/(EXPENDITURE)
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 42,575 Investment income 63 Total 42,638 EXPENDITURE ON Raising funds 30,817 Charitable activities Costs of generating funds 60 Other 3,303 Total 34,180 NET INCOME 8,458 |
Restricted funds £ 350,642 - 350,642 - - - - 350,642 |
Total funds £ 393,217 63 |
|---|---|---|
| 393,280 30,817 60 3,303 |
||
| 34,180 | ||
| 359,100 |
continued...
Page 8
Queensbury Celtic Football Club Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| fund | funds | funds | ||
| £ | £ | £ | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 189,408 | 299,451 | 488,859 | |
| TOTAL FUNDS CARRIED | ||||
| FORWARD | 197,866 | 650,093 | 847,959 | |
| 6. | TANGIBLE FIXED ASSETS | |||
| Fixtures | ||||
| Freehold | and | |||
| property | fittings | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 September 2019 | 857,678 | 8,936 | 866,614 | |
| Additions | 143,423 | - | 143,423 | |
| At 31 August 2020 | 1,001,101 | 8,936 | 1,010,037 | |
| DEPRECIATION | ||||
| At 1 September 2019 | - | 4,244 | 4,244 | |
| Charge for year | - | 703 | 703 | |
| At 31 August 2020 | - | 4,947 | 4,947 | |
| NET BOOK VALUE | ||||
| At 31 August 2020 | 1,001,101 | 3,989 | 1,005,090 | |
| At 31 August 2019 | 857,678 | 4,692 | 862,370 |
continued...
Page 9
Queensbury Celtic Football Club Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
| 7. STOCKS 31/8/20 £ Stocks 1,760 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31/8/20 £ Trade debtors 100 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31/8/20 £ Bank loans and overdrafts (see note 11) 3,858 Accruals and deferred income 1,792 5,650 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31/8/20 £ Bank loans (see note 11) 141,381 11. LOANS An analysis of the maturity of loans is given below: 31/8/20 £ Amounts falling due within one year on demand: Bank loans 3,858 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 141,381 |
31/8/19 £ 1,350 31/8/19 £ - 31/8/19 £ 2,973 1,791 4,764 31/8/19 £ 145,717 |
|---|---|
| 31/8/19 £ 2,973 |
|
| 145,717 |
continued...
Page 10
Queensbury Celtic Football Club Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
12. SECURED DEBTS
The following secured debts are included within creditors:
| 31/8/20 | 31/8/19 | |
|---|---|---|
| £ | £ | |
| Bank loans | 145,239 | 148,690 |
The long term bank loan with Charity Bank is secured and requires that the company has a minimum of £7,000 in it's deposit account at all times.
13. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Revaluation reserve Football Foundation Sport England Sovereign TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1/9/19 £ 197,866 233,451 352,642 50,000 14,000 650,093 847,959 Incoming resources £ 105,574 105,574 |
Net movement At in funds 31/8/20 £ £ 48,396 246,262 - 233,451 - 352,642 - 50,000 - 14,000 - 650,093 48,396 896,355 Resources Movement expended in funds £ £ (57,178) 48,396 (57,178) 48,396 |
|---|---|---|
continued...
Page 11
Queensbury Celtic Football Club Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/9/18 £ Unrestricted funds General fund 189,408 Restricted funds Revaluation reserve 233,451 Football Foundation 2,000 Sport England 50,000 Sovereign 14,000 299,451 TOTAL FUNDS 488,859 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 42,638 Restricted funds Football Foundation 350,642 TOTAL FUNDS 393,280 |
Net movement At in funds 31/8/19 £ £ 8,458 197,866 - 233,451 350,642 352,642 - 50,000 - 14,000 350,642 650,093 359,100 847,959 Resources Movement expended in funds £ £ (34,180) 8,458 - 350,642 (34,180) 359,100 |
|---|---|
continued...
Page 12
Queensbury Celtic Football Club Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Revaluation reserve Football Foundation Sport England Sovereign TOTAL FUNDS |
At 1/9/18 £ 189,408 233,451 2,000 50,000 14,000 299,451 488,859 |
Net movement in funds £ 56,854 - 350,642 - - 350,642 407,496 |
At 31/8/20 £ 246,262 233,451 352,642 50,000 14,000 |
|---|---|---|---|
| 650,093 | |||
| 896,355 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Football Foundation TOTAL FUNDS |
Incoming resources £ 148,212 350,642 498,854 |
Resources Movement expended in funds £ £ (91,358) 56,854 - 350,642 (91,358) 407,496 |
|---|---|---|
continued...
Page 13
Queensbury Celtic Football Club Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2020.
Page 14
Queensbury Celtic Football Club Limited
Detailed Statement of Financial Activities for the Year Ended 31 August 2020
| Detailed Statement of Financial Activities for the Year Ended 31 August 2020 |
||
|---|---|---|
| 31/8/20 | 31/8/19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Grants | 59,601 | 354,793 |
| Donations | 1,469 | 1,290 |
| Subscriptions | 37,048 | 28,518 |
| Signing on fees | 760 | 1,750 |
| Sale of advertising signs | - | 250 |
| Facility hire | 3,954 | 2,160 |
| Presentation night | - | (2,966) |
| Kit sponsorship | 2,711 | 7,422 |
| 105,543 | 393,217 | |
| Investment income | ||
| Deposit account interest | 31 | 63 |
| Total incoming resources | 105,574 | 393,280 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Rates and water | 4,525 | 827 |
| Insurance | 286 | 2,318 |
| Light and heat | 1,531 | 5,589 |
| Publicity costs | 408 | 236 |
| Printing, postage & stationery | 815 | 24 |
| Sundries | 701 | 438 |
| Repairs and maintenance | 21,588 | 4,958 |
| Training & courses | 2,885 | 2,285 |
| Kit & equipment | 8,865 | 6,619 |
| Referees | 605 | 926 |
| League & affiliation fees | 1,603 | 1,733 |
| Ground hire | 4,933 | - |
| Internet costs | 427 | - |
| Fixtures and fittings | 704 | 828 |
| 49,876 | 26,781 | |
| Other trading activities | ||
| Opening stock | 1,350 | 4,250 |
| Carried forward | 1,350 | 4,250 |
This page does not form part of the statutory financial statements
Page 15
Queensbury Celtic Football Club Limited
Detailed Statement of Financial Activities for the Year Ended 31 August 2020
| Detailed Statement of Financial Activities for the Year Ended 31 August 2020 |
||
|---|---|---|
| 31/8/20 | 31/8/19 | |
| £ | £ | |
| Other trading activities | ||
| Brought forward | 1,350 | 4,250 |
| Shop Trade | (35) | 1,136 |
| Closing stock | (1,760) | (1,350) |
| (445) | 4,036 | |
| Support costs | ||
| Finance | ||
| Accountancy | 1,140 | 1,140 |
| Bank loan interest | 6,607 | 2,223 |
| 7,747 | 3,363 | |
| Total resources expended | 57,178 | 34,180 |
| Net income | 48,396 | 359,100 |
This page does not form part of the statutory financial statements
Page 16