KENSINGTON DRAGONS FOOTBALL CLUB LIMITED (Company Limited by Guarantee)
Company Number: 07720188 Registered Charity Number: 1144887
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st AUGUST 2023
Kensington Dragons Football Club Limited
TRUSTEES
TRUSTEES Martin Murphy Carlo Pirzio-Biroli Chris Shirley Michael Clancy Gabrielle Tierney Palmira Morais Alex Schneideman COMPANY NUMBER 07720188 CHARITY NUMBER 1144887 REGISTERED OFFICE 90 Clarendon Road London W11 2HR INDEPENDENT EXAMINERS Moore Kingston Smith LLP 6th Floor 9 Appold Street London EC2A 2AP BANKERS HSBC Bank plc 25 Notting Hill Gate London W11 3JJ
Page: 1
Kensington Dragons Football Club Limited Trustees' Report For the year ended 31st August 2023
The Trustees present the report and financial statements for the year ended 31st August 2023. The Trustees have adopted the provisions of the 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.
Constitution
Kensington Dragons Football Club is a registered charity, number 1144887, and a private company limited by guarantee, number 07720188. It was incorporated on 27th July 2011. The club is governed by its Memorandum and Articles of Association.
Trustees
The trustees throughout the period were:
Martin Murphy Carlo Pirzio-Biroli Chris Shirley Michael Clancy Gabrielle Tierney Palmira Morais Alex Schneideman
Objects
The principal objects of the club are to promote community participation of, primarily, children and young people regardless of race, sex, creed, financial means or social and economic circumstances in healthy recreation in particular by the provision of facilities for the playing of association football and other sports capable of improving health. The club also aims to advance the education of children and young people so that they might grow to maturity as individuals, become responsible members of society and their conditions of life may be improved.
Public Benefit
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’.
The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
Reserves Policy
It is the target of the Kensington Dragons Football Club Ltd to maintain unrestricted funds at a sufficient level to cover management and administration costs for at least one year which is estimated to be £100,000. As at 31st August 2023 the club had reserves of £90,362, all of which were unrestricted. The Trustees note that the reserves are slightly below the target and will fund raise over the next two years to increase the reserves to the target level.
Activities and Financial Results
With the Covid lockdowns behind us most teams started preseason training in August with the competitive matches starting at various times from July for the First Team and early October for the new U11s.
During the year, the Club again maintained its highly sought-after status of being a FA Charter Standard Community Club but knowing that the FA planned to make changes to the Charter Standard program to a system of Accreditation.
Page: 2
Kensington Dragons Football Club Limited Trustees' Report For the year ended 31st August 2023
The Educational and Training program continued through the season with the Coaches’ Conferences being held again in person.
The Club fielded throughout the year: an U10 Training Squad; a new U11 Boys Squad; an U12 Boys Squad; an U13 Boys Squad; an U14 Boys Squad; an U15 Boys Squad; an U16 Boys Squad and an U17 Boys Squad. The relatively new Girls Section continued to be successful with an U12 Girls Squad; U13 Girls Squad; U14 Girls Squad; U15 Girls Squad and an U17 Girls Squad. In the young adult section, the Club fielded three teams: The First Team; the Blues Team and for the second season the new young adult team labelled the Old Dragonians. The Club had fielded five Girls teams, making it again one of the bigger clubs in central London for the provision of girls’ football. The Under 11 Boys team was entered in the Harrow Soccer Combination League, the Boys’ youth teams in the Harrow Youth Football League and the Girls’ teams in the Capital Girls League. The First Team continued in the Premiership of the Middlesex County Football League; the Blues in the Saturday League Division Two and the Old Dragonians team in the Sunday League.
The annual Tournament, Presentations and BBQ on Sunday 11th June were a huge success with over 300 players, parents, helpers and fans enjoying themselves in the glorious weather. If anything, it was hotter than the previous year. In line with the Club’s policy there was no charge for the players so nobody was left out.
During the season the teams trained regularly and played their League and Cup matches with inevitable mixed results:
The Firsts, playing on Saturdays, were looking at one point for a top three position before slipping back. There were some thrilling matches, some of which proved the point that it is not over until the final whistle. The Blues, playing on Saturdays, had a run of just losing matches and then a run of winning to end the season with room for improvement but also for confidence in the future with younger players getting involved.
The Old Dragonians, playing on Sundays, secured its position as a permanent senior team in the Dragons roster.
The U17 Boys had a mixed season. The team was exceptional one week then missing players the next. This can be a difficult age group with players coming under pressure in many directions.
The U17 Girls also had a mixed season, in many ways similar to the U17 Boys. With their full team they were exceptional.
The U16 Boys had a fantastic season to win their Division in exceptional circumstances. They had tied with the high scoring Old Actonians and so it was on to a Play Off. Everything pointed to an OA win but the Dragons battled through with depleted numbers to win 4-0 and leave the OAs shellshocked.
The U15 Boys also had a good season which culminated in winning the Trophy Cup by beating LPOSSA 2-0 in the Final. Over the season the Dragons had developed into a very formidable side despite having ended the previous season with room for improvement.
The U15 Girls had a tremendous run of wins but faltered a little in the home stretch which prevented them winning their division.
The U14 Boys romped home to win their Division by a clear 4 points.
The U14 Girls had a generally good season to finish second in the league which resulted in some players being entered in the London Youth Games - held on the same day as the Dragons End of Season BBQ. The U13 Boys are settling down into a cohesive side but recruiting a goalie would make a huge difference to their performance.
The U13 Girls had a very sound season and recorded some thumping great wins to finish second in the League.
Page: 3
Kensington Dragons Football Club Limited Trustees' Report For the year ended 31st August 2023
The U12 Boys had a fantastic season to win their division by a massive 12 points recording 18 wins along the way. The challenge now is to harness their talents to cope with playing 11 a side next season on bigger pitches where passing becomes even more important.
The U12 Girls are a cheerful lot and have progressed remarkably from their wobbly start last season. With much the same players they are a match for most teams and finished mid table. The U11 Boys progressed from last year’s training squad into a properly functioning team winning a string of matches.
The U10s prepared for the challenge of being entered in the Harrow Combination League for the 2023/24 season.
The Club also ran a series of free Pan – Disability football sessions for 5 -11 year olds. The Club will review the lessons learnt with a view to, over time, providing free sessions every season.
As in previous seasons there were no mandatory charges for players to join in the Club’s activities. The costs were met by voluntary donations and fundraising, so no player was prevented from joining in the Club's activities for financial reasons.
The challenge still remains for the Club to secure good quality local facilities to run its training sessions and activities. The Club again devoted another year to working with the Wormwood Scrubs Charitable Trust, the London Borough of Hammersmith and Fulham and the Royal Borough of Kensington and Chelsea to improve facilities.
During the year the club's income was generated mainly from donations, grants, and sponsorships. Thanks must be expressed for the support given by the John Lyon’s Charity, The Clarendon Group, Bective, the Grenfell Fund, The Grove Trust and the Patrons. The activities and financial results for the year are as shown in the accounts.
Page: 4
Kensington Dragons Football Club Llmited Trustees. Report For the year ended 31st August 2023 Statèment of Trust•M' Rospon8ibilities Thg trustees (who are also diractors of the club for the purposes of company lawl arg r9sponslblg for preparing tha Trusl8es' R8P(Kt and tha financial slat9ments in accordanc8 with applicabl6 law and Unil& lQngdom Accounting Standard5 {UnSled Klngdom G8nerally Accepted AGcountbng PraGt*e). Company law requires the trustees io prepare financial statements for each finanoal year which give a true and fair view of the stat8 of th8 affairs of the charitable company and of the incoming resources and application of SourCes, including th& incom8 and expenditure. of the charitsble oompanyfor that period. In prèparing the88 financial statements, the trustees are requirgd lo: select sullabla accounting policlgs and then apply thèm consi5tentty: CoMY wth applicable accounting standards, including FRS 102. subject lo any material departure5 disdosed and explained in the ffinancial 5tatements.' state whelher a Statement of Recommended Practice ISORPI apleS arKI has been followgd. subject to any matgrial dopartures which are gxplained in the financial stslements., make judgements and e$iima¢es that are reasonable and prudent,. prepar8 the financial Statements on Ihe going coJKem basls unless it is inappropriate to presume that th¥ charitable company will contlnue in business. The Iruslees are SponSible for ke8pirwJ prOr accounting reeords that disclosg Yh reasonab accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies A¢1 2006. They a also responsible for safeguarding the 05sets of the ch8rit8ble company and hence for tsking reasonablg Steps for th8 prevention and detection of fraud ané cther irregularities. This report h8s b8en prepared In 8ccordarKe wilh the specFal provis6ons of Part 15 of the Companies Act 2006 rolaling to small CA>mpanies. OLY C Shidey Chairrnan Dale". Page.. 5
Independent Examiner's Report to the Trustees of Kensington Dragons Football Club Limited
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2023.
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.
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.
Adam Fullerton, FCA DChA For and on behalf of Moore Kingston Smith LLP
Chartered Accountants
6th Floor 9 Appold Street London EC2A 2AP
Date: 29/01/2024
Page: 6
Kensington Dragons Football Club Limited Statement of Financial Activities
(incorporating the Income and Expenditure account) For the year ended 31st August 2023
| INCOME AND EXPENDITURE Note Income from: 3 Total income Expenditure Charitable activities Total expenditure 4 Net Income and Movement in Funds 7 Fund Balance at 31 August 2023 Donations, sponsorships and grants Fund Balance brought forward |
2023 Unrestricted Funds £ 154,688 |
2023 Restricted Funds £ - |
2023 Total Funds £ 154,688 |
2022 Total Funds £ 146,721 |
|---|---|---|---|---|
| 154,688 | - | 154,688 | 146,721 | |
| 134,116 | - | 134,116 | 136,473 | |
| 134,116 | - | 134,116 | 136,473 | |
| 20,572 69,790 |
- - |
20,572 69,790 |
10,248 59,542 |
|
| 90,362 | - | 90,362 | 69,790 |
Page: 7
Kensington Dragons Football Club Limited Balance Sheet as at 31st August 2023 2023 2023 2022 2022 Current Assets Deblors Cash at bank and in hand 8.637 94.466 696 74,760 103,103 75.656 Credltorn: Amounts falllng due wtthin on• y•ar 12,741) 15.8661 Net CuThnt A858t• 90,362 69.790 Net Assets 90,362 69,790 Fund¥ Restrtcled funds Unr88tricled general fund8 90,362 69,790 90,362 69,790 The dir8Ctors stale.. la) For the year ended 31 Augu512023 the charitable company wa8 en11td to exemptkjn from audK under Section 477 of the Companies Act 2006. Ib) No notice from Trustees requiring an audit has been deposlled under Section 476 of the compan Act (c) The accounts have been prepared in aceordancg with Ihe special provisions relating lo small companies ithin Part 15 of the Companies Ad 2006. Idl The Tfustees acknOdge Ihebr responsibility for complying with the requirements of the Act th respect to accounting records an¢J for th8 pparatiOn of accounts. Approved and aLrthori5ed for issue by the Board on: C Shirtey Chairman Dat8.. Company Number.. 07720188 Page- 8
Kensington Dragons Football Club Limited Notes to the Financial Statements For the year ended 31st August 2023
1 Accounting Policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charity is a public benefit entity for the purposes of FRS 102 and therefore the Charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), the Companies Act 2006 and the Charities Act 2011.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
1.2 Going concern
The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and have taken account of pressures on donation income. After making enquiries the trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
1.3 Income
All income is included in the Statement of Financial Activities when the club is entitled to the income, receipt is probable and the amount can be quantified with reasonable accuracy.
Income received in advance is deferred where it would be repayable if conditions are not met in the future.
1.4 Expenditure
All expenditure is accounted for on an accruals basis and is directly classified under the expenditure category to which it relates. Support costs have been allocated to the charitable activity to which they relate.
1.5 Governance costs
Governance costs include those costs incurred in the governance of the charity and are primarily associated with constitutional compliance and statutory requirements.
1.6 Unrestricted funds
These resources arise from income provided for unrestricted purposes and from accumulated surpluses and deficits in the operations for charitable purposes and are expendable at the discretion of the Trustees.
1.7 Restricted funds
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor.
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
Page: 9
Kensington Dragons Football Club Limited Notes to the Financial Statements For the year ended 31st August 2023
1 Accounting Policies (continued)
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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. 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.
With the exceptions of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102.
1.10 Key estimates and judgements
In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements.
In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
2 Transactions with Trustees
During the year, a total of £Nil (2022: £1,057) was paid on behalf of one trustee in relation to reimbursement of expenses. There were no year end creditors in relation to this.
3 Donations, sponsorships and grants
| Donations Sponsorships Award Income Grants Expenditure on charitable activities Football activities |
2023 Unrestricted funds £ 119,838 4,000 350 30,500 154,688 2023 Unrestricted funds £ 134,116 134,116 |
2023 Restricted funds £ - - - - - 2023 Restricted funds £ - - |
2023 Total Funds £ 119,838 4,000 350 30,500 154,688 2023 Total Funds £ 134,116 134,116 |
2022 Total Funds £ 122,621 2,000 - 22,100 |
|---|---|---|---|---|
| 146,721 | ||||
| 2022 Total Funds £ 136,473 |
||||
| 136,473 |
4 Expenditure on charitable activities
None of the charitable expenditure in 2023 related to restricted funds. The charity had 1 employee in the year to 31 August 2023 (2022: none). There were no employees (2022: nil) who received employee benefits of more than £60,000. Within unrestricted expenditure is £2,930 (2022: £2,750) paid to the independent examiner for the independent examination of the financial statements.
5 Debtors
| Other debtors | 2023 £ 8,637 8,637 |
2022 £ 896 |
|---|---|---|
| 896 |
Page: 10
Kensington Dragons Football Club Limited Notes to the Financial Statements For the year ended 31st August 2023
6 Creditors: Amounts falling due within one year
| Trade creditors Accruals 7 Funds Unrestricted Funds Restricted funds Administrator fund Total Funds Unrestricted Funds Restricted funds Administrator fund Total Funds |
Balance at 31/08/2022 £ 69,790 - 69,790 Balance at 31/08/2021 £ 59,542 - 59,452 |
Income £ 154,688 - 154,688 Income £ 146,721 - 146,721 |
Expenditure £ (134,116) - (134,116) Expenditure £ (136,473) - (136,473) |
2023 £ 8,245 4,496 12,741 Transfers £ - - - Transfers £ - - - |
2022 £ 2,476 3,390 |
|---|---|---|---|---|---|
| 5,866 | |||||
| Balance at 31/08/2023 £ 90,362 |
|||||
| - | |||||
| 90,362 | |||||
| Balance at 31/08/2022 £ 69,790 |
|||||
| - | |||||
| 69,790 |
8 Limited Liability
The charitable company is limited by guarantee and has no share capital. In the event of it winding up the liability of each member is limited to £1.
9 Related Party Transactions
The charity received unrestricted donations from 3 trustees totalling £50,010 in the year to 31 August 2023 (2022: £30,000).
Page: 11
Kensington Dragons Football Club Limited Schedule of Expenditure For the year ended 31st August 2023
| Football League/Association Fees & Fines Equipment & Kit Match costs inc. Coaching & Ref Fees Pitch Hire Fees Training Transport Events Medals & Trophies IT Professional Fees Communications Insurance Fees Bank Charges Salary Misc |
2023 £ 3,168 6,792 58,718 29,906 1,045 234 4,193 570 2,842 11,630 4,010 2,208 245 8,000 555 134,116 |
2022 £ 4,488 12,203 48,609 33,919 676 185 3,889 540 2,461 25,145 2,610 321 231 - 1,196 |
|---|---|---|
| 136,473 |
Page: 12