REGISTERED COMPANY NUMBER: 07533794 (England and Wales) REGISTERED CHARITY NUMBER: 1141366
Walton Park Indoor Football Centre Report of the Trustees and Unaudited Financial Statements For The Year Ended
30 June 2022
Walton Park Indoor Football Centre
Contents of the Financial Statements For The Year Ended 30 June 2022
| Page | |
|---|---|
| Chairman's Report | 1 |
| Report of the Trustees | 2 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 10 |
| Detailed Statement of Financial Activities | 15 |
Walton Park Indoor Football Centre
Chairman's Report For The Year Ended 30 June 2022
The past twelve months have seen us return to near normal operations following the SARS-CoV-2 pandemic.
The Directors feel that we have successfully responded to the impact of the pandemic and are in a solid position moving forward. Despite initially indicating that our Business Interruption Insurance claim was likely to be unsuccessful we were delighted to receive a pay out of £37,082 which has helped us maintain a strong balance sheet. Income from footballing activities is, obviously significantly higher than last year but also, encouragingly, ahead of the 2018-19 financial year which was the last full year we had before Covid.
Disappointingly, following our return to near normal operations there has been minimal progress by WPSC for the development of the Centre, tenders were sought for the proposed redevelopment work but these proved to be far in excess of the available budget. Alternative plans are now being pursued but progress is very slow.
Staff have largely remained loyal and staff work together as a team to cover the necessary hours, this has certainly eased the return to normal working with minimal disruption.
I believe that after such a difficult time we can look forward with continued optimism to the coming year, Covid permitting.
Duncan Greaves
Antony J Jackson Co-Chairmen of the Board of Trustees
Page 2
Walton Park Indoor Football Centre
Report of the Trustees For The Year Ended 30 June 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 30 June 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 January2015).
The Trustees (who constitute directors of the company for the purposes of the Companies Act) present their report together with the examined financial statements for the year ended 30 June 2022 and confirm that the latter comply with the requirements of the Act, FRS 102, SORP and the Charities Act 2011.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are defined by the Memorandum and Articles of Association as:
"The promotion of community participation in healthy recreation for the benefit of the residents of Sale in the Borough of Trafford and the neighborhood, without distinction of sex, sexual orientation, race or of political, religious or other opinions by the provision of facilities for playing small sided and indoor football."
Block and casual bookings have risen sharply to £92,574 due to the reopening of the centre post covid-19. This is an increase of £4,892 (6%) compared to the financial year 2018-19 when the centre was last open for a full year pre covid-19, and an increase of £80,833 (688%) from last financial year 2020-21 when the centre was shut. Total income in this financial year 2021-22 was further increased by a net rise in other income of £1,622 (4%) from prior year to £39,782. This comprised; Business Interruption insurance claim of £37,082 and commercial TV income of £2,700.
Public benefit
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives.
All our charitable activities focus on enabling our local community to lead healthier and happier lives by providing affordable facilities for small sided indoor football.
Being based in the heart of Sale and only a few hundred yards from Brooklands Metrolink station, the Centre continues to enable different age groups to enjoy the benefits of playing football. The younger section of our customer base has continued to expand, whilst still retaining regular users playing into their retirement, pointing to sustainable growth. Alongside this, we have also recently introduced 'Walking Football' groups, further promoting social inclusion and extended healthy living.
In addition to the charity, at selected times, makes the Centre available at no charge to organisations working with the unemployed.
FINANCIAL REVIEW
Financial Review
The statement of financial activities for the year is comprehensively reported on pages 7 - 15.
The statement of financial activities shows unrestricted income for the year of £132,356 with no restricted income. There was an increase in income due to the centre being reopen for bookings after a long period of closure due to Covid-19. This resulted in a profit of £42,067.
Page 3
Walton Park Indoor Football Centre
Investment policy and objectives
Given the limited funds held by the charity and the very low interest rates available, there has been limited scope or need for investment planning. The continued need for infrastructure investment, will mean for the foreseeable future that income will be spent on important improvements to enable the company to deliver an improving service to our customers and clients.
Page 4
Walton Park Indoor Football Centre
Report of the Trustees For The Year Ended 30 June 2022
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately three months unrestricted expenditure. This would provide sufficient funds to cover costs and to respond to unexpected events which may arise from time to time. In addition, the Trustees have further decided to allow the reserves to grow beyond this, with immediate further environmental investments necessary and the potential for significant expenditure on major capital expenditure in the future. This has been met for 2021/22.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity constitution and Governing document
The company was incorporated on 17 February 2011 under the Companies Act 2006 as a company limited by guarantee and not having share capital. In the event of a winding up, registered members are liable to contribute a sum not exceeding £10 per member towards the debts and liabilities of the Trust and the costs and expenses of winding up.
The charity, registered on 14 April 2011, is governed by the terms of its memorandum and articles of association, which established the objects and powers of the charitable company.
Method of appointment of Trustees
New Trustees are recruited with a view to bringing the skills, knowledge and experience required to ensure the charity is well governed. Trustees are elected by the members of the charity attending the Annual General Meeting, or by proxy vote.
Organisational structure
The Centre's organisational structure is led by the board of directors whose direction is implemented by the Centre Manager supported by three other part time members of staff.
Induction and training of new trustees
Following appointment, all new trustees attend an induction with the Chairman. The induction includes provision to them of the following material; our Memorandum and Articles of Association, The Hallmarks of an Effective Charity CC10, The Essential Trustee CC3, details of the charities management accounts and access to shared company information and files along with URLs to relevant Charity Commission reference documentation.
Risk management
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that it is an ongoing focus of the trustees to adopt strategies and processes with the aim of eliminating or mitigating exposure to these risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07533794 (England and Wales)
Registered Charity number
1141366
Page 3
Walton Park Indoor Football Centre
Report of the Trustees For The Year Ended 30 June 2022
REFERENCE AND ADMINISTRATIVE DETAILS Registered office
Walton Park Sports Centre Raglan Road Sale Cheshire M33 4AG
Trustees
The directors of the company are also charity trustees for the purposes of charity law. All trustees give their time voluntarily and receive no benefits from the charity.
The trustees who served during the period were as follows:
P Davies (resigned 21[st] September 2022) D M Greaves (Co-Chairman) A J Jackson (Co-Chairman) P I Marsland D V McKenzie M D Walsh H Anjum
Most trustees are very familiar with the practical work of the charity, including having actively worked in the operation on a voluntary basis; new trustee candidates are invited and encouraged to attend meetings prior to accepting nomination in order to become more familiar the aims, objectives and working methods of the charity. We are delighted that we continue to maintain an effective team of directors, and will continue to seek additional directors where it is felt they can add to the strength of the board.
Independent examiner
James Wheelan Accountancy Limited Minshull House, 67 Wellington Road North Stockport SK4 2LP
Solicitors
Myerson Solicitors LLP The Cottages Regent Road Altrincham WA14 1RX
Accountants
Arc Accountancy Solutions Limited 51 Laverton Road Lytham St. Annes Lancashire FY8 1EN
Page 4
Walton Park Indoor Football Centre
Report of the Trustees For The Year Ended 30 June 2022
REFERENCE AND ADMINISTRATIVE DETAILS
Bankers
Co-operative Bank 1 Balloon Street Manchester
Trustees' Responsibilities
Law applicable to incorporated charities in England and Wales requires the trustees, who are also the directors of the company, to prepare the financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of its financial activities during the year then ended. In preparing those financial statements, the trustees are required to:
ꞏ select suitable accounting policies and then apply them consistently;
ꞏ observe the methods and principles in the Charities SORP (FRS102)
ꞏ make judgements and estimates that are reasonable and prudent;
ꞏ state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
ꞏ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011 and the Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
Disclosure of Information
So far as each trustee at the date of approval of this report is aware:
There is no relevant financial information of which the company's independent examiner is unaware: and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant financial information and to establish that the independent examiner is aware of that information.
Independent Examination of accounts
As allowed under Part 8 of the Charities Act 2011 and Sections 145 and 152 of the Act, Trustees of smaller charities are allowed to opt for this simpler form of external scrutiny in place of audit.
The independent examination provides an external check on the accounts and can be carried out by any person with the relevant ability and experience.
The Trustees are delighted to have used the assistance provided by James Wheelan Accountancy Limited to undertake this important task.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees and signed on its behalf by:
............................................. D M Greaves - Trustee
Date: 04/11/2022
Page 5
Walton Park Indoor Football Centre
Report of the Independent Examiner For The Year Ended 30 June 2022
Independent Examiners report to the Trustees of Walton Park Indoor Football Centre
I report on the accounts for the year ended 30 June 2022 set out on pages seven to fifteen.
Respective responsibilities of trustees and examiner
As the charity’s trustees of the Company (who are also the directors of the company 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 for this year 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 material matters have come to my attention which gives me cause to believe that
-
accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
-
the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 Charities SORP (FRS102).
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.
James Wheelan FCCA James Wheelan Accountancy Limited Minshull House, 67 Wellington Road North Stockport SK4 2LP
08/11/2022
Date: ............................................
Page 6
Walton Park Indoor Football Centre
Statement of Financial Activities For
The Year Ended 30 June 2022
| Notes INCOME FROM Donations and legacies Charitable activities Hire of football pitches Other income 6 Total EXPENDITURE ON Charitable activities Hire of football pitches 7 NET INCOME/ (LOSS) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 Unrestricted funds £ - 92,574 39,782 132,356 90,289 42,067 57,836 99,903 |
2021 Unrestricted funds £ - 11,741 38,160 |
|---|---|---|
| 49,901 54,654 |
||
| (4,753) 62,589 |
||
| 57,836 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 7
Walton Park Indoor Football Centre
Balance Sheet
At 30 June 2022
| FIXED ASSETS Notes Tangible assets 5 CURRENT ASSETS Debtors 8 Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds 10 TOTAL FUNDS |
2022 £ 2021 £ 6,175 10,345 2,005 1,326 99,054 54,880 |
|---|---|
| 101,059 56,206 (7,331) (8,715) |
|
| 93,728 47,491 |
|
| 99,903 57,836 |
|
| 99,903 57,836 |
|
| 99,903 57,836 |
|
| 99,903 57,836 |
The notes form part of these financial statements
Page 8
Walton Park Indoor Football Centre
Balance Sheet - continued At 30 June 2022
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.
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 special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
............................................. A J Jackson -Trustee
Date: 04/11/2022
The notes form part of these financial statements
Page 9
Walton Park Indoor Football Centre
Notes to the Financial Statements
For The Year Ended 30 June 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 2015)', 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 on a straight line basis at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost
Fixed assets are capitalised when costs exceeds £500.
Taxation
The charity is exempt from corporation tax on its charitable activities and highlights sections 3.2 & 4.1 from VAT Notice 701/45 for being exempt from VAT.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Page 10
Walton Park Indoor Football Centre
Notes to the Financial Statements - continued For The Year Ended 30 June 2022
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. DETAILS OF CERTAIN TYPES OF EXPENDITURE
Fees for the examination of the accounts:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Independent examiners Fees | 222 | 210 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2022 nor for the year ended 30 June 2021 or ended 30 June 2020.
Trustees' expenses
The following trustees expenses have been incurred
| Type of expenses reimbursed: | 2022 | 2021 |
|---|---|---|
| £ | £ | |
| Telephone, stationery, etc. | - | - |
| No trustees were reimbursed for expenses. |
4. STAFF COSTS
The average number of employees during the year was 4. (2021 - 3)
| Salaries and Wages Social Security Costs Pension Costs (Defined Contribution) |
2022 £ 2021 £ 45,207 38,367 - - 675 628 |
|---|---|
| 45,882 38,995 |
The total employment benefits including employer pension contributions of the key management personnel were £27,814, comprising wages of £27,186 and pension contributions of £628.
Page 11
Walton Park Indoor Football Centre
Notes to the Financial Statements - continued For The Year Ended 30 June 2022
4. STAFF COSTS (continued)
There was no partial funding of salaries and wages in the year by Government Furlough Contributions (2021 - £25,640).
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
5. TANGIBLE FIXED ASSETS
| ANGIBLE FIXED ASSETS | |
|---|---|
| Freehold | |
| property | |
| £ | |
| COST | |
| At 1 July 2021 and 30 June 2022 | 41,701 |
| DEPRECIATION | |
| At 1 July 2021 | 31,356 |
| Charge for the year | 4,170 |
| 35,526 | |
| NET BOOK VALUE | |
| At 20 June 2022 | 6,175 |
| At 30 June 2021 | 10,345 |
6. OTHER INCOME
Other income amounting to £39,782 comprises: Business Interruption Insurance claim of £37,082 (2021 – £2,500) Commercial TV income of £2,700 (2021 - £nil) Cola machine Commission of £nil (2021 - £20) Government Job Retention Scheme grant of £nil (2021 - £25,640) Additional Discretionary Grant of £nil (2021 – £10,000)
Page 12
Walton Park Indoor Football Centre
Notes to the Financial statements - continued
For The Year Ended 30 June 2022
7. EXPENDITURE ANALYSIS
| Wages Pensions Accountancy Rent, Rates and water Insurance Light and heat Telephone Postage and stationery Maintenance and repairs Sundries Depreciation |
2022 2021 £ £ 45,207 38,367 675 636 3,273 3,187 14,882 1,771 1,031 1,041 2,187 1,230 431 503 - - 16,491 2,574 1,942 1,175 4,170 4,170 90,289 54,654 |
|---|---|
The reduction in the prior year ‘Wages’ and ‘Rent, Rates and Water’ was directly related to the impact of COVID-19, where a Rent Holiday was received throughout the full period of closure. Throughout the current year, this has gradually increased back to the full monthly rental costs.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Prepayments and accrued income Social security and other taxes |
2022 £ 1,493 512 2,005 |
2021 £ 1,326 - 1,326 |
|---|---|---|
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors - Social security and other taxes Accruals and deferred income |
2022 £ - 139 7,192 7,331 |
2021 £ 3,002 1,940 3,773 8,715 |
|---|---|---|
Page 13
Walton Park Indoor Football Centre
Notes to the Financial Statements - Continued For The Year Ended 30 June 2022
10. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS |
At 1 July 2021 £ Net movement in funds £ At 30 June 2022 £ 57,836 42,067 99,903 |
|---|---|
| 57,836 42,067 99,903 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources Movement in resources expended funds £ £ £ 132,356 (90,289) 42,067 |
|---|---|
| 132,356 (90,289)42,067 |
COMPARATIVES FOR MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS |
At 1 July 2020 £ 62,589 |
Net movement in funds £ At 30 June 2021 £ (4,753) 57,836 |
|---|---|---|
| 62,589 | (4,753) 57,836 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources Movement in resources expended funds £ £ £ 49,901 (54,654) (4,753) |
|---|---|
| 49,901 (54,654) (4,753) |
Page 14
Walton Park Indoor Football Centre
Notes to the Financial Statements - Continued For The Year Ended 30 June 2022
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2022.
Page 15
Walton Park Indoor Football Centre
Detailed Statement of Financial Activities For The Year Ended 30 June 2022
| INCOME Donations and legacies Donations Investment income Income from investments Charitable activities Hire of football pitches Other income Other income Total incoming resources EXPENDITURE Charitable activities Wages Pensions Accountancy Rent, Rates and water Insurance Light and heat Telephone Postage and stationery Maintenance and repairs Sundries Depreciation Total resources expended Net income/(loss) |
2022 £ - - - 92,574 39,782 132,356 45,207 675 3,273 14,882 1,031 2,187 431 - 16,491 1,942 4,170 90,289 90,289 42,067 |
2021 £ - - - 11,741 38,160 |
|---|---|---|
| 49,901 38,367 636 3,187 1,771 1,041 1,230 503 - 2,574 1,175 4,170 |
||
| 54,654 | ||
| 54,654 | ||
| (4,753) |
This page does not form part of the statutory financial statements
Page 16