KENSINGTON DRAGONS FOOTBALL CLUB LIMITED (Company Limited by Guarantee) Company Number: 07720188 Registered Charity Number: 1144887 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st AUGUST 2024
Kensington Dragons Football Club Limited TRUSTEES Palmlra Morals Alexander Mlchael Schneldeman Gabrielle Patricia Tiemey Martin Murphy Christopher Shifley Carfo PIrziBir0ll Michael Clancy COMPANY NUMBER 07720188 CHARITY NUMBER 1144887 REGISTERED OFFICE 90 Clarendon Road London W112HR INDEPENDENT EXAMINERS Moore Klroston Smith LLP 6th Floor 9 Appold Street London EC2A 2AP BANKERS HSBC Bank plc 25 Notting Hill Gate London W113JJ Page: 1
Kensington Dragons Football Club Limited Trustees. Report For the year ended 31st August 2024 Th8 Trustees present the r8port and financial statements for the year ended 31 st August 2024. Th8 Trustees have adopted the provisions of the Statement of Recommended Practice applicable to charltles preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. Constitution Kensington Dragons Football Club 15 a registered charity, number 1144887, and a private company limited by guararrtea. number 07720188. It was incorporated on 27th July 2011. The club is governed by its Memorandum and Articles of Association. Trustee5 The trustees throughout the period were: Palmira Morals Alexander Michael Schneideman Gabrielle Patricia Tiemey Martin Murphy Christopher Shirley Carlo PirziovBiroli Mlchael Clancy Objects The principal objects of the club are to promot8 community partlclpatlon of. primarily, children and young people regardless of race. sex. creed, financial means or social and economic circumstances in healthy recreation in partlcular by the provision of facilities for the playlng of association football and other sports capable of improving health. Th8 club also alms to advanc8 lh8 educatlon of chlldren and young p80ple so that they mlght grow lo maturlty as Indlvlduals, b8come responsible members of society and thelr condltlons of1rf8 may b8 improved. Publlc Beneflt 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 (P82)'. The trustees confirm that they have complled wilh the duly in sectlon 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Resorvos Policy It Is the target of the Kensington Dragons Football Club Ltd to maintain unre5triGted 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 31 st August 2024 the club had reserves of £86,741. all of which were unrestricted. The Trustees note that the reserves are slightly below the target and will fund raise over the next tsvo years to increase the reserves to the tsrget level. Acthities and Financial Results During the year. the Club again maintained its highly sought-after status of being a FA Charter Standard Communty Club. Kensington Dragons is unusual in that it does not charge young people to take part in its adivities and again in ts 2023124 year no player was prevented from joining in for financial reason. Page: 2
Kensington Dragons Football Club Limited Trustees. Report For the year ended 31st August 2024 Th8 Educational and Training program continu8d through the season with th8 Coach8s' Conf8rencès belng held again in person. The Club fielded 18 squads throughout the year: an Under 108 Training Squad,. a new U11s Boys Squad; two U12 Boys Squads (the Reds and the Whites)" an U13s Boys Squad,. an U14s Boys Squad: an U15s Boys Squad," an U16s Boys Squad., an U17s Boys Squad and an U185 Boys squad. The Girls SeGtion continued to be successful with a new 11s Squad: an U13s Girls Squad; an U14 s Girfs Squad; an U15s Girls Squad and an U16s Girls Squad. In the young adult Section, the Club fielded three teams= The First Team and the Blues Team who both played their matches on Saturday afternoons and, for the third season, the relatively new young adult team labelled the Old Dragonians who played its matches on Sundays. The Club had fielded five Girls teams. making il 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 TY and the Old Dragonians team in the Sunday League. Th8 End of Season Annual Toumament and Presentations had to be held on a team-by-team basis because LBHF were doing works al the Linford Christie Stadium meaning that it was not availabl8 to hold the event. Instead, each team gathered together to vote for their Players, Play8r and for the respective Managers and Coaches to award "Coach's Playert and "Most Improved Playerf, before enjoying a picnic. In line with the Club's policy there wa5 no charge for the players so nobody was left out. During the season the teams trained regularly and played their League and Cup rnatches with inevitable mixed rasults. Regular Pan-disability training session was held for 5-11 year olds on a five a side pitch at the Wesiway on Mondays from 6-7pm. The Club has mad8 a commitment to run a further series of similar training sessions. During the summer of 2023 Kensington Dragons ran free introductory football camps to recruit new players for the upcoming season. Players were then invited tojoin in a weeklong So¢¢er Summer Camp with a view of being registered to play matches in the 2023124 season. These series of events proved very successful and Wre run again in the Summer of 2024. The importance of playing in teams for the players is not so much the winning and losing but more leaming the lessons required to work well within a team and coping vrfith the inevitable1055es whilst being magnanimous when winning. Friendships are made for life been players who might not in other circumstances ever have met. Kensington Dragons adds to the social capital of West London. 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 activiiies for financial reasons. The challenge still remains for the Club lo secure good quality local facilities to run its training sessions and activitiès. The Club again devoted a lurther year to working with the Wormwood Scrubs Charitsble Trust. the London Borough of Hammersmith and Fulham and Ihe Royal Borough of Kensington and Chelsea to improve facilities. During the year the club's income was generated from donations, grants. and sponsorships. Thanks, must be expressed for the support given by th8 John Lyon's Charity, The Clarendon Group. Druce. the Grenfell Fund. The Grove Trusl and the Patrons. The activities and financi81 results for the year are as shown in the accounts. Page: 3
Kensington Dragons Football Club Limited Trustees. Report For the year ended 31st August 2024 Statement of Trustees. Responslbllltles The trustees (who are also diwtors of the club for the purposes of company law) are responsible for preparing the Trustees, Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally ACpted Accounting Practice). Company law requires the tru%tp.p.8 tn prp.PArp financial statements for each financial year which give a tru8 and fair vtew of tha stat8 of the affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that period. In preparing these financial statements. the trustees are required to". select suitable accounting policies and then apply them consislently., comply with applicable accounting standards. including FRS 102, subject to any material departures disclosed and explained in the financial statements- State whether a Statement of Recommended Practice (SORP) applies and has been followed, subject to any material departures whith are explained in the financial statements. make judgements and estimates that are reasonable and prudent,. prepare the financial statements on the golng concem basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for k88ping proper accounting records that disclose with reasonable auraCY at any time the financial position of the charitable company and enable them to ensure that the financial stat8ments comply wth the Companies Act 2006. They are also responsible for safeguarding th8 assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularits'es. Thls r8POrt has bean prepared In accordance with the speclal provlslons of Part 15 of the Companles Act 2006 relatlng to small companies. isl £}loLS C Shirley Chairman Date: Page: 4
Kensington Dragons Football Club Limited Trustees. Report For the year ended 31st August 2024 I report to the charity Irusiees on my examination of the accounts of the Company for the year ended 31 st August 2024. 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 Cornpany 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 charitys accounts as carried out under section 145 of the Charities Act 2011 (Ihe 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 AGt. Independent Examlnerfs Statement I have completed my examinalion. I confirm that no matters have come to my attention in connection with the examinalion giving m8 cause to believe: 1) accounts'ng 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 Acl other than any r8quir8ment that the accounts give a 'tru8 and fair view which is not a matter considered as part of an independenl examination; or 4) the accounls have not been prepared in accordance wilh the melhods and principles of the Statement of R8commended Practice for accounting and r8POrting by charities. I have no concems and have come acrthss no olher matters in connection with the examination to which attention should b8 drawn in this report in order to enable a proper untjerstanding of the accounts to be reached. LLP Adam Fullorton. FCA DChA For and on behalf of Moore Kingston Smith LLP Chartered Accountants 6th Floor 9 Appold stet Loiidon EC2A 2AP Date: 2210512025 Page.. 5
Kensington Dragons Football Club Limited Statement of Financial Activities (incorporating the Income and Expenditure account) For the year ended 31st August 2024 2024 2024 Unrestricted Restricted Funds Funds 2024 Total Funds 2023 Total Funds INCOME AND EXPENDrruRE Note Income from: Donations. sponsorships and grants Total income 172,881 172.881 172.881 154,688 154,688 172.881 Expenditure Charitable activities 176.502 176.502 134.116 Total expendlture 176,502 176.502 134.116 Net Income and Movgment In Funds (3,621) (3.621) 20.572 Fund Balance brought forward 90.362 90.362 69,790 Fund Balance at 31 August 2024 86.741 86.741 90,362 Page: 6
Kensington Dragons Football Club Limited Balance Sheet as at 31st August 2024 2024 2024 2023 2023 Note Current Assets Debtors Cash at bank and in hand 9,681 80,865 8,637 94,466 90.546 103.103 Creditors: Amounts falllng du• withln one year {3,805) (12.741) Net Current A8sets 86.741 90.362 Net Assets 86.741 90.362 Funds Restricted funds Unrestricted general funds 86,741 90,362 86.741 90,362 The directors state,. (a) For the year ended 31 August 2024 the charitable company was entitled to eX8rnPtlon from audlt under Section 477 of the Companles Act 2006. (b) No notice from Trustees requiring an audit has been deposited under Section 478 of the Companies Act 2006. (c} The accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. (d) The Trustees acknowledge their responsibility for complying Kfjth the requirements of the Act wlth respect to accounting records and for the preparation of accounts. Approved and authorised for issue by the 8oard on: C Shirfey Date.. Islslk£ Company Number: 07720188 Page: 7
Kensington Dragons Football Club Limited Notes to the Financial Statements For the year ended 31st August 2024 1 Accounting Policles 1.1 Basls 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 therefo 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 Stsndard 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 concem The trustees have assessed whether the use of the going Concem basis is appropriate and have considered possible events or conditions that might cast significant doubt on the abilty of the charity to continue as a going concem. The trustees have made this assessment for a peri of at least one year from the date of approval of the financial statements. In particular the trustees have considered the ¢hariWs forecasts and projections and have tsken account of pressur85 on donation income. After making enquiries the trustees have concluded that there is a reasonable expectation that the charity has adequate SoUrS to continue in operational existence for the foreseeable future. The charity therefore conlinues 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 wtth reasonable accuracy. Income received in advance is deferred Whe it would be repayable rf conditions are not met in the future. 1.4 Expendttur• l 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 Govemance costs Governance costs include thosg costs incurred in the govomanca of the charity and are primarily associated with constitutional complianc8 and statutory requirements. 1.6 Unrestricted funds These resources arise from income provided for unrestricted purposes and from accurnulated surpluses and deficits in the operations for charitable purposes and are expendable at the dIsCtion of the Trustees. 1.7 Restrlcted funds Restricted tunds a funds which are to be used in accordance with specific restrictions imposed by the donor. 1.8 Cash and cash equlvalents 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.. 8
Kensington Dragons Football Club Limited Notes to the Financial Statements For the year ended 31st August 2024 1 Accounting Polici8s (contlnued) 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitys 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 liabilty simultsneously. With the exceptions of prepayments and deferred income all other debtor and creditor balances a 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 th8 view of the trustees in applying the accounting policies adoptad. no judgements were required that have a significant effect on the amounts recognised in the financial statemerrts nor do any estimates or assumptions made cary a significant risk of material adjustrnent In the next flnanclal year. 2 Transactlons with Trustees During the year, there were no amounts (2023: £nil) paid on behalf of trustees in relation to reimbursement of expenses. There were no year end creditors in relation to this. 3 Donations, sponsorshlps and grnnts 2024 Unrestrictod funds 2024 Restrlctod funds 2024 Total Funds 2023 Total Funds Donations Gfft ald Sponsorships Award Income Grants 109.751 27,630 6,000 109,751 27,630 6,000 119.838 4,000 350 30,500 154,688 29.500 172,881 29,500 172,881 4 Expenditurè on charitable activities 2024 Unrestrlcted funds 2024 Restrfctsd funds 2024 Total Funds 2023 Total Funds Football activities 176.502 176,502 176,502 176.502 134.116 134.116 None of the charitable expendilure in 2024 related to restricted funds. The charity had 1 employee in the JBar to 31 August 2024 (2023: 1). There ware no employees (2023: nil) vtho received employee banefits of more than £60,000. Within unrestricted expenditure is £3,636 (2023: £2,930) paid to the independent examiner for the irKlependent examination of the financial statements. 5 Debtors 2024 2023 Other debtors 9,681 9,681 8,637 8,637 Page: 9
Kensington Dragons Football Club Limited Notes to the Financial Statements For the year ended 31st August 2024 6 Credltors: Amounts falllng due wlthln one year 2024 2023 Trade creditors Accruals 193 3,612 3,805 8.245 4.496 12.741 7 Funds Balance at 3110812023 Incomo Expendlture Transfers Balance at 3110812024 Unrestricted Funds 90,362 172.881 176.502) 86,741 Restricted funds Administrator fvnd Total Funds ),382 172,881 (176.502) 86.741 Balance at 3110812022 Income Expenditure Transfers Balance at 3110812023 Unrestricted Funds 69,790 154,688 134,116 90.362 Restrided funds Administr8Éor fund Total Funds 59.452 146,721 (136.473) 90.362 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 rnember is limited to £1. 9 Related Party Transactlons The charity received unrestricted donations from 3 trustees totslling £65.050 in the year to 31 August 2024 (2023: £50,010). 10 PoEt balance 6hoct cvents A license to carry out the works to provide a football pitch for the Club at the Linford Christie Stadium d8velopment was signed on 16 January 2025. Page: 10
Kensington Dragons Football Club Limited Schedule of Expenditure For the year ended 31st August 2024 2024 2023 Football LeaguelAssociation Fees & Fines Equipment & Kit Match costs inc. Coaching & Ref Fees Pitch Hire Fee5 Training Transport Events Medals & Trophies 4,732 11,804 60,160 64,124 670 316 2,296 587 2.717 15.788 1,100 2.670 1.057 3.168 6.792 58.718 29.906 1.045 234 4.193 570 2,842 11.630 Professional Fees Legal Expenses Communications Insurance Fees Bank Charges Salary Subscriptions Misc 4,010 2.208 245 8,000 201 176,502 134,116 Page: 11