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2022-08-31-accounts

REGISTERED COMPANY NUMBER: 06893825 (England and Wales) REGISTERED CHARITY NUMBER: 1137671

Report of the Trustees and

Financial Statements for the Year Ended 31 August 2022

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 2022

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 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 August 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

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

Queensbury Celtic Football Club Pit Lane Queensbury Bradford West Yorkshire BD13 1NB

Trustees

J A Peel S J Sharp (resigned 31/12/21) H Pearson G Hunt Mrs S Parnaby R J Peel A C Maurice M D Swales I R Sykes

Page 1

Queensbury Celtic Football Club Limited

Report of the Trustees

for the Year Ended 31 August 2022

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 30 May 2023 and signed on its behalf by:

J A Peel - 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 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

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:

  1. 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

  3. 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

  4. 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

Sharp Accountants Kirkhamgate WF2 0SL

30 May 2023

Page 3

Queensbury Celtic Football Club Limited

Statement of Financial Activities for the Year Ended 31 August 2022

31/8/22
Unrestricted
Restricted
Total
fund
funds
funds
Notes
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
58,798
35,319
94,117
Investment income
2
39
-
39
Total
58,837
35,319
94,156
EXPENDITURE ON
Raising funds
84,125
10,319
94,444
NET INCOME/(EXPENDITURE)
(25,288)
25,000
(288)
RECONCILIATION OF FUNDS
Total funds brought forward
297,258
650,093
947,351
TOTAL FUNDS CARRIED FORWARD
271,970
675,093
947,063		 31/8/21
Total
funds
£
86,036
7
86,043
35,047
50,996
896,355
947,351

The notes form part of these financial statements

Page 4

Queensbury Celtic Football Club Limited

Balance Sheet 31 August 2022

Notes
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Stocks
7
Debtors
8
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
10
NET ASSETS
FUNDS
13
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
373,209
2,885
100
31,282
34,267
(4,528)
29,739
402,948
(130,978)
271,970		 Restricted
funds
£
673,093
-
-
2,000
2,000
-
2,000
675,093
-
675,093		 31/8/22
Total
funds
£
1,046,302
2,885
100
33,282
36,267
(4,528)
31,739
1,078,041
(130,978)
947,063
271,970
675,093
947,063		 31/8/21
Total
funds
£
1,013,032
1,630
100
75,819
77,549
(5,586)
71,963
1,084,995
(137,644)
947,351
297,258
650,093
947,351

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 2022

The trustees acknowledge their responsibilities for

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 30 May 2023 and were signed on its behalf by:

J A Peel - 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 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.

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 2022

2. INVESTMENT INCOME

INVESTMENT INCOME
31/8/22 31/8/21
£ £
Deposit account interest 39 7
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31/8/22 31/8/21
£ £
Depreciation - owned assets 7,976 1,528

3. NET INCOME/(EXPENDITURE)

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.

5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
86,036
-
Investment income
7
-
Total
86,043
-
EXPENDITURE ON
Raising funds
35,047
-
NET INCOME
50,996
-
RECONCILIATION OF FUNDS
Total funds brought forward
246,262
650,093		 Total
funds
£
86,036
7
86,043
35,047
50,996
896,355

continued...

Page 8

Queensbury Celtic Football Club Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

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
£ £ £
TOTAL FUNDS CARRIED FORWARD 297,258 650,093 947,351
6. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£ £ £
COST
At 1 September 2021 1,001,101 18,406 1,019,507
Additions - 41,246 41,246
At 31 August 2022 1,001,101 59,652 1,060,753
DEPRECIATION
At 1 September 2021 - 6,475 6,475
Charge for year - 7,976 7,976
At 31 August 2022 - 14,451 14,451
NET BOOK VALUE
At 31 August 2022 1,001,101 45,201 1,046,302
At 31 August 2021 1,001,101 11,931 1,013,032
7. STOCKS
31/8/22 31/8/21
£ £
Stocks 2,885 1,630

continued...

Page 9

Queensbury Celtic Football Club Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/22
£
Trade debtors
100
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/22
£
Bank loans and overdrafts (see note 11)
2,737
Accruals and deferred income
1,791
4,528
10.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/8/22
£
Bank loans (see note 11)
130,978
11.
LOANS
An analysis of the maturity of loans is given below:
31/8/22
£
Amounts falling due within one year on demand:
Bank loans
2,737
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
130,978		 31/8/21
£
100
31/8/21
£
3,796
1,790
5,586
31/8/21
£
137,644
31/8/21
£
3,796
137,644

continued...

Page 10

Queensbury Celtic Football Club Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

12. SECURED DEBTS

The following secured debts are included within creditors:

31/8/22 31/8/21
£ £
Bank loans 133,715 141,440

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
Restricted funds
Football Foundation
TOTAL FUNDS		 At 1/9/21
£
297,258
233,451
352,642
50,000
14,000
650,093
947,351
Incoming
resources
£
58,837
35,319
94,156		 Net
movement
At
in funds
31/8/22
£
£
(25,288)
271,970
-
233,451
25,000
377,642
-
50,000
-
14,000
25,000
675,093
(288)
947,063
Resources
Movement
expended
in funds
£
£
(84,125)
(25,288)
(10,319)
25,000
(94,444)
(288)

continued...

Page 11

Queensbury Celtic Football Club Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

13. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1/9/20
£
Unrestricted funds
General fund
246,262
Restricted funds
Revaluation reserve
233,451
Football Foundation
352,642
Sport England
50,000
Sovereign
14,000
650,093
TOTAL FUNDS
896,355
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
86,043
TOTAL FUNDS
86,043		 Net
movement
At
in funds
31/8/21
£
£
50,996
297,258
-
233,451
-
352,642
-
50,000
-
14,000
-
650,093
50,996
947,351
Resources
Movement
expended
in funds
£
£
(35,047)
50,996
(35,047)
50,996

continued...

Page 12

Queensbury Celtic Football Club Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

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 1/9/20
£
246,262
233,451
352,642
50,000
14,000
650,093
896,355		 Net
movement
in funds
£
25,708
-
25,000
-
-
25,000
50,708		 At
31/8/22
£
271,970
233,451
377,642
50,000
14,000
675,093
947,063

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 144,880 (119,172) 25,708
Restricted funds
Football Foundation 35,319 (10,319) 25,000
TOTAL FUNDS 180,199 (129,491) 50,708

continued...

Page 13

Queensbury Celtic Football Club Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2022.

Page 14

Queensbury Celtic Football Club Limited

Detailed Statement of Financial Activities for the Year Ended 31 August 2022

Detailed Statement of Financial Activities
for the Year Ended 31 August 2022
31/8/22 31/8/21
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Grants 35,319 53,700
Donations - 1,000
Subscriptions 39,624 23,629
Signing on fees - 230
Facility hire 8,520 1,385
Presentation night 223 -
Kit sponsorship 10,431 6,092
94,117 86,036
Investment income
Deposit account interest 39 7
Total incoming resources 94,156 86,043
EXPENDITURE
Raising donations and legacies
Rates and water 2,564 (3,032)
Insurance 3,545 2,644
Light and heat 5,632 1,839
Printing, postage & stationery 24 4
Sundries 1,984 1,909
Repairs and maintenance 35,191 8,050
Training & courses 2,419 1,208
Kit & equipment 12,631 6,594
Referees 1,805 1,520
Presentation nights 2,552 -
League & affiliation fees 2,019 798
Ground hire 10,129 2,082
Internet costs 525 472
Fuel and oil 664 786
Fixtures and fittings 7,977 1,527
89,661 26,401

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 2022

Detailed Statement of Financial Activities
for the Year Ended 31 August 2022
31/8/22 31/8/21
£ £
Raising donations and legacies
Other trading activities
Opening stock 1,630 1,760
Shop Trade (1,359) 1,450
Closing stock (2,885) (1,630)
(2,614) 1,580
Support costs
Finance
Legal & professional 40 40
Accountancy 1,140 1,140
Bank loan interest 6,217 5,886
7,397 7,066
Total resources expended 94,444 35,047
Net (expenditure)/income (288) 50,996

This page does not form part of the statutory financial statements

Page 16