REGISTERED COMPANY NUMBER: 07577919 (England and Wales) REGISTERED CHARITY NUMBER: 1141575
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
FOR
BROMLEY CROSS FOOTBALL CLUB
Barlow Andrews LLP Carlyle House 78 Chorley New Road Bolton Lancashire
BROMLEY CROSS FOOTBALL CLUB
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 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 | 11 |
| Detailed Statement of Financial Activities | 12 |
BROMLEY CROSS FOOTBALL CLUB
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 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To provide the opportunity to play football for children and adults in the Bromley Cross Community, and to eventually provide our own independent football facilities to secure the future of the football club and that of children's football in the community.
The trustees have reviewed the objectives and aims of the charity and are more than satisfied that they provide public benefit.
ACHIEVEMENT AND PERFORMANCE
During the year we provided facilities for 12 teams to take part in various football leagues. The trustees continued their efforts to obtain funding for our own pitches and will continue to do so.
Plans for future periods
During the next twelve months plans are to continue the efforts to support the various teams and be able to fund the purchase of pitches for use by the charity.
FINANCIAL REVIEW
Investment policy and objectives
The charity does not have any investments. Accumulated profits have been retained on bank deposit where it will remain until sufficient to allow the charity to buy land and equipment which is the charity's ultimate goal.
The charity's statement of financial activities is presented on page 4.
Reserves policy
It is the policy of the charity to maintain unrestricted funds in order to ensure the day to day running of the charity.
Free reserves at the year end were £46,809 (2021 - £40,714).
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.
Recruitment and appointment of new trustees
The power to appoint or remove a trustee is vested in the trustees.
Organisational structure
The affairs of the scheme are managed by the trustees.
Risk management
The trustees have a duty to identify and review the risks to which the club is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07577919 (England and Wales)
Registered Charity number
1141575
Page 1
BROMLEY CROSS FOOTBALL CLUB
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022
Registered office 24 Kiln Brow Bromley Cross Bolton Lancashire BL7 9NR
Trustees N W Polding E Needham R Needham D Norris
Company Secretary Mrs R Needham
Independent Examiner D A Kay F.C.A. Chartered Accountant Barlow Andrews LLP Carlyle House 78 Chorley New Road Bolton Lancashire
Bankers
HSBC Bank Plc Hillview Road Astley Bridge Bolton Lancashire BL1 8QQ
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 on 5 January 2023 and signed on its behalf by:
N W Polding - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BROMLEY CROSS FOOTBALL CLUB
Independent examiner's report to the trustees of Bromley Cross Football Club ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 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:
-
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.
D A Kay F.C.A. Chartered Accountant Barlow Andrews LLP Carlyle House 78 Chorley New Road Bolton Lancashire
5 January 2023
Page 3
BROMLEY CROSS FOOTBALL CLUB
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2022
| 2022 Unrestricted fund Notes £ INCOME FROM Charitable activities Football club 31,420 EXPENDITURE ON Charitable activities Football club 24,996 Other 329 Total 25,325 NET INCOME 6,095 RECONCILIATION OF FUNDS Total funds brought forward 40,714 TOTAL FUNDS CARRIED FORWARD 46,809 |
2021 Total funds £ 41,006 |
|---|---|
| 14,721 316 |
|
| 15,037 | |
| 25,969 14,745 |
|
| 40,714 |
The notes form part of these financial statements
Page 4
BROMLEY CROSS FOOTBALL CLUB
BALANCE SHEET 30 JUNE 2022
| 2022 Unrestricted fund Notes £ CURRENT ASSETS Debtors 8 210 Cash at bank 53,809 54,019 CREDITORS Amounts falling due within one year 9 (7,210) NET CURRENT ASSETS 46,809 TOTAL ASSETS LESS CURRENT LIABILITIES 46,809 NET ASSETS 46,809 FUNDS 10 Unrestricted funds 46,809 TOTAL FUNDS 46,809 |
2021 Total funds £ 674 46,182 46,856 (6,142) 40,714 40,714 40,714 40,714 40,714 |
|---|---|
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 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.
The notes form part of these financial statements
Page 5
continued...
BROMLEY CROSS FOOTBALL CLUB
BALANCE SHEET - continued 30 JUNE 2022
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 5 January 2023 and were signed on its behalf by:
N W Polding - Trustee
E Needham - Trustee
R Needham - Trustee
The notes form part of these financial statements
Page 6
BROMLEY CROSS FOOTBALL CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
1. COMPANY INFORMATION
Bromley Cross Football Club is a charitable company established under a trust deed. The registered office is 24 Kiln Brow, Bromley Cross, Bolton, Lancashire BL7 9NR.
The presentation currency of the financial statements is the Pound Sterling (£).
2. 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.
Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees' continue to adopt the going concern basis of accounting in preparing the accounts.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on cost
TAXATION
The charity is exempt from corporation tax on its charitable activities.
Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call on banks.
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.
FINANCIAL INSTRUMENTS
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
continued...
Page 7
BROMLEY CROSS FOOTBALL CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022
2. ACCOUNTING POLICIES - continued
FINANCIAL INSTRUMENTS
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
3. INCOME FROM CHARITABLE ACTIVITIES
| Activity Subscriptions Football club Grants Football club |
2022 £ 31,420 - 31,420 |
2021 £ 18,886 22,120 |
|---|---|---|
| 41,006 |
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation - owned assets | - | 1,333 |
5. 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.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 30 June 2022 nor for the year ended 30 June 2021.
continued...
Page 8
BROMLEY CROSS FOOTBALL CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022
6. STAFF COSTS
There were no employees during either the current or the preceding year.
7. TANGIBLE FIXED ASSETS
| 7. | TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|---|
| Equipment | |||||
| £ | |||||
| COST | |||||
| At 1 July 2021 and 30 June 2022 | 11,051 | ||||
| DEPRECIATION | |||||
| At 1 July 2021 and 30 June 2022 | 11,051 | ||||
| NET BOOK VALUE | |||||
| At 30 June 2022 | - | ||||
| At 30 June 2021 | - | ||||
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Prepayments and accrued income | 210 | 674 | |||
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Other creditors | 5,365 | 5,167 | |||
| Accruals and deferred income | 1,845 | 975 | |||
| 7,210 | 6,142 | ||||
| 10. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.7.21 | in funds | 30.6.22 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 40,714 | 6,095 | 46,809 | ||
| TOTAL FUNDS | 40,714 | 6,095 | 46,809 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 31,420 | (25,325) | 6,095 | ||
| TOTAL FUNDS | 31,420 | (25,325) | 6,095 |
continued...
Page 9
BROMLEY CROSS FOOTBALL CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.7.20 | in funds | 30.6.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 14,745 | 25,969 | 40,714 |
| TOTAL FUNDS | 14,745 | 25,969 | 40,714 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 41,006 | (15,037) | 25,969 |
| TOTAL FUNDS | 41,006 | (15,037) | 25,969 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.7.20 | in funds | 30.6.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 14,745 | 32,064 | 46,809 |
| TOTAL FUNDS | 14,745 | 32,064 | 46,809 |
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 | 72,426 | (40,362) | 32,064 |
| TOTAL FUNDS | 72,426 | (40,362) | 32,064 |
continued...
Page 10
BROMLEY CROSS FOOTBALL CLUB
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.
12. LIABILITY OF MEMBERS
Every member of the company undertakes to contribute to the assets of the company, in the event of the same being wound up while he is a member, or within one year after he ceased to be a member, for payment of the debts and liabilities of the company contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves such amount as may be required not exceeding ten pound.
13. CHARITABLE COMPANY STATUS
The company is incorporated as a company limited by guarantee and not having a share capital. It is registered as a charity and is exempt from taxation.
Page 11
BROMLEY CROSS FOOTBALL CLUB
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| INCOME | ||
| Charitable activities | ||
| Subscriptions | 31,420 | 18,886 |
| Grants | - | 22,120 |
| 31,420 | 41,006 | |
| Total incoming resources | 31,420 | 41,006 |
| EXPENDITURE | ||
| Charitable activities | ||
| Rent and rates | 1,958 | 642 |
| Insurance | 188 | 220 |
| Light and heat | 289 | 361 |
| Sundries | 112 | 212 |
| Pitch maintenance | 2,664 | 3,075 |
| Pitch hire | 13,821 | 3,365 |
| League and registration fees | 250 | - |
| Fines and transfer fees | 563 | 82 |
| Trophies and presentations | 1,011 | 305 |
| Equipment | 2,244 | 3,473 |
| Repairs and renewals | 386 | 975 |
| Training courses | 975 | 260 |
| Donations | - | 240 |
| Website and software | 498 | 178 |
| Bank charges | 37 | - |
| Depreciation | - | 1,333 |
| 24,996 | 14,721 | |
| Other | ||
| Accountancy | 329 | 316 |
| Total resources expended | 25,325 | 15,037 |
| Net income | 6,095 | 25,969 |
This page does not form part of the statutory financial statements
Page 12