2022-05-31-accounts

COMPANY REGISTRATION NUMBER: 07362385 CHARITY REGISTRATION NUMBER: 1146613

Keyworth United Community Football Club Limited Company Limited by Guarantee Unaudited Financial Statements 31 May 2022

ILIFFE POULTER LTD

Chartered accountants 1A Bonington Road Mapperley Nottingham England NG3 5JR

Keyworth United Community Football Club Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 May 2022

	Page
Trustees' annual report (incorporating the director's report)	1
Chartered accountant's report to the board of trustees on the
preparation of the unaudited statutory financial statements	4
Statement of financial activities (including income and
expenditure account)	5
Statement of financial position	6
Notes to the financial statements	7

Keyworth United Community Football Club Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 May 2022

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 May 2022.

Reference and administrative details

Registered charity name Keyworth United Community Football Club Limited Charity registration number 1146613 Company registration number 07362385 Principal office and registered 1A Bonington Road office Mapperley Nottingham NG3 5JR England The trustees Mr Thompson (Appointed 5 October 2022) Mr Cottee (Appointed 21 July 2022) Mr Ritchie Mr Thompson (Served from 1 June 2020 to 5 Mr Clark October 2022) Mrs Meakin Accountants Iliffe Poulter Ltd Chartered accountants 1A Bonington Road Mapperley Nottingham England NG3 5JR

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 May 2022

Structure, governance and management

The Charity is a company limited by guarantee. It operates under the rules of its Articles of Association dated 01 September 2010. The control of Keyworth United Community Football Club (The Club) shall be vested in an Executive Committee which comprises the office of President, Chairman, Vice Chairmen, Treasurer, Secretary. All officers of the Executive Committee (except President) will be elected at the Annual General Meeting. All officers shall be eligible for re-election. New Trustees joining the Board are given an appropriate briefing on their obligations under company and charity law, and on the contents of the Articles of Association. All members of the Executive Committee shall be Trustees of the Club. All Trustees are referred to guidance issued by the Charity Commission on the role of the Charity Trustee. Vice Presidents, the Assistant Secretary, Youth Development Officer, and Child Welfare Officers shall be appointed as Non-executive Club Officers.

A vacancy arising, for whatever reason, amongst the officers shall be filled by the Executive Committee who have the power to appoint a Member to fill the vacancy until the following AGM. Officers shall vacate their position if they are suspended from Membership under Rule 6, or on ceasing to be a member by any other cause.

Objectives and activities

The Charity`s purpose set out in the Articles of Association is the promotion of community participation in healthy recreation for the benefit of the inhabitants of Keyworth and the surrounding area, by the provision of facilities for playing Association Football.

While pursuing the objectives of the Charity, the Trustees have given careful consideration to the Charity Commission`s guidance on public benefit.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

The Club has continued to function as an integral part of the community. The Club has continued to use football to teach you people some tremendous life skills they can carry with them forever. The opportunity provided to play football has provided great health benefits, both mental and physical for people in the area. We have actively promoted camaraderie, teamwork, discipline, and work ethic that will help shape our children into well-rounded adults. The club has continued to grow, with the addition of a number of new teams at all age groups, both male and female.

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 May 2022

Financial review

Team memberships and subscriptions are at their highest level since the Clubs formation. This has resulted in the largest net income since the club began was formed. The club has received well, after Covid-19 significantly reduced the teams activity. The Charity has maintained a positive increase in net funds. The trustees and management are confident that membership income will increase again in the coming year. The trustees are confident that membership numbers will ensure the charity continues to trade for the foreseeable future.

Plans for future periods

The club has made a grant to Keyworth Sports Association Ltd in the year, of £33,333.33. The funds are a contribution towards the purchase of additional land adjacent to the charity`s current location. The grant funding provided will provide new opportunities to further the charity’s purposes by providing space for additional training pitches, which in turn will allow for the creation of additional teams.

The trustees' annual report and the strategic report were approved on 10 May 2023 and signed on behalf of the board of trustees by:

Mrs Sandra Meakin

Trustee

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Chartered Accountant's Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Statements of Keyworth United Community Football Club Limited

Year ended 31 May 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Keyworth United Community Football Club Limited for the year ended 31 May 2022, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes from the charity's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.

Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

ILIFFE POULTER LTD Chartered accountants

1A Bonington Road Mapperley Nottingham England NG3 5JR

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 May 2022

		2022	2022	2021
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	5	148,470	148,470	57,993
Charitable activities	6	15,959	15,959	14,852
Other trading activities	7	357	357	6,384
Investment income	8	21	21	14
Other income	9	–	–	528
		─────────	─────────	────────
Total income		164,807	164,807	79,771
		═════════	═════════	════════
Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies	10	127,941	127,941	51,797
Costs of other trading activities	11	–	–	7,254
Expenditure on charitable activities	12,13	34,060	34,061	18,000
		─────────	─────────	────────
Total expenditure		162,001	162,002	77,051
		═════════	═════════	════════
		─────────	─────────	────────
Net income and net movement in funds		2,806	2,805	2,720
		═════════	═════════	════════
Reconciliation of funds
Total funds brought forward		54,741	54,741	52,021
		─────────	─────────	────────
Total funds carried forward		57,547	57,547	54,741
		═════════	═════════	════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 7 to 14 form part of these financial statements.

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Statement of Financial Position

31 May 2022

		2022	2021
	Note	£	£
Fixed assets
Tangible fixed assets	19	1,782	–
Current assets
Debtors	20	(6,885)	(6,885)
Cash at bank and in hand		64,376	105,292
		────────	─────────
		57,491	98,407
Creditors: amounts falling due within one year	21	1,726	1,666
		────────	────────
Net current assets		55,765	96,741
		────────	────────
Total assets less current liabilities		57,547	96,741
Creditors: amounts falling due after more than one year	22	–	42,000
		────────	────────
Net assets		57,547	54,741
		════════	════════
Funds of the charity
Unrestricted funds		57,547	54,741
		────────	────────
Total charity funds	23	57,547 ════════	54,741 ════════

For the year ending 31 May 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 10 May 2023, and are signed on behalf of the board by:

Mrs Sandra Meakin Trustee

The notes on pages 7 to 14 form part of these financial statements.

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 May 2022

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 1A Bonington Road, Mapperley, Nottingham, NG3 5JR, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', 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 (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 May 2022

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 May 2022

3. Accounting policies (continued)

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment - 20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 May 2022

4. Limited by guarantee

The company is limited by guarantee and has no share capital. Every member of the charity promises, if the charity is dissolved while he or she or it is a member, or within twelve months after he or she or it ceases to be a member, to contribute such sum (not exceeding £10.00) as may be demanded of him or her or it, towards the payment of the debts and liabilities of the company incurred before he or she or it ceases to be a member, and, of the costs, charges, and expenses of winding up, and the adjustment of the rights of the contributories amongst themselves.

5. Donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Donations
Donations	400	400	–	–
Sponsorship
Sponsorship	15,178	15,178	–	–
Subscriptions
Subscriptions	132,892	132,892	57,993	57,993
	─────────	─────────	────────	────────
	148,470	148,470	57,993	57,993
	═════════	═════════	════════	════════

6. Charitable activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Payments from governments or public
authorities in the normal course of
trading	15,684	15,684	14,802	14,802
Other income from charitable activities
type	275	275	50	50
	────────	────────	────────	────────
	15,959	15,959	14,852	14,852
	════════	════════	════════	════════

7. Other trading activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Fundraising events	357	357	–	–
Shop income	–	–	6,384	6,384
	────	────	───────	───────
	357	357	6,384	6,384
	════	════	═══════	═══════

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 May 2022

8.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
		£	£	£	£
	Bank interest receivable	21	21	14	14
		════	════	════	════
9.	Other income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
		£	£	£	£
	Other income	–	–	528	528
		════	════	════	════
10.	Costs of raising donations and legacies
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
		£	£	£	£
	Costs of raising donations and legacies
	- Grants receivable	–	–	(8,323)	(8,323)
	Costs of raising donations and legacies
	- Subscriptions	127,941	127,941	59,462	59,462
	Costs of raising donations and legacies
	- Other	–	–	658	658
		─────────	─────────	────────	────────
		127,941	127,941	51,797	51,797
		═════════	═════════	════════	════════
11.	Costs of other trading activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
		£	£	£	£
	Costs of other trading activities - Shop
	costs	–	–	7,158	7,158
	Costs of other trading activities -
	Staging events	–	–	96	96
		────	────	───────	───────
		–	–	7,254	7,254
		════	════	═══════	═══════

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 May 2022

12. Expenditure on charitable activities by fund type

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Support costs	727	727	–	–
Exceptional costs of charitable
activities	33,333	33,334	18,000	18,000
	────────	────────	────────	────────
	34,060	34,061	18,000	18,000
	════════	════════	════════	════════

13. Expenditure on charitable activities by activity type

		Grant funding			Total funds	Total fund
		of activities	Support costs		2022	2021
		£	£		£	£
	Finance costs	–	727		727	–
	Exceptional cost of charitable activities	33,334		–	33,334	18,000
		────────	────		────────	────────
		33,334	727		34,061	18,000
		════════	════		════════	════════
14.	Analysis of support costs
			Analysis	of
			support costs
			activity	1	Total 2022	Total 2021
			£		£	£
	Finance costs		727		727	–
			════		════	════
15.	Analysis of grants
					2022	2021
					£	£
	Grants to institutions
	Grants to institutions				33,333	18,000
					────────	────────
	Total grants				33,333	18,000
					════════	════════
16.	Net income
	Net income is stated after charging/(crediting):
					2022	2021
					£	£
	Depreciation of tangible fixed assets				445	–
					════	════

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 May 2022

17. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:	The total staff costs and employee benefits for the reporting period are analysed as follows:	The total staff costs and employee benefits for the reporting period are analysed as follows:
	2022	2021
	£	£
Wages and salaries	6,800	1,545
	═══════	═══════
The average head count of employees during the year was 2 (2021: 3). The average number of
full-time equivalent employees during the year is analysed as follows:
	2022	2021
	No.	No.
Number of staff	1	–
	════	════

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

18. Trustee remuneration and expenses

One or more trustees has been paid remuneration or received other benefits from employment with the charity or a related entity. Sandra Meakin was paid a total of £3,300.00 in the year for the provision of administration and secretarial work, and Mark Ritchie a gross salary of £4,800.00 in the year for administration and secretarial work.

19. Tangible fixed assets

			Equipment
			£
	Cost
	At 1 June 2021		–
	Additions		2,227
			───────
	At 31 May 2022		2,227
			═══════
	Depreciation
	At 1 June 2021		–
	Charge for the year		445
			───────
	At 31 May 2022		445
			═══════
	Carrying amount
	At 31 May 2022		1,782
			═══════
	At 31 May 2021		–
			═══════
20.	Debtors
		2022	2021
		£	£
	Prepayments and accrued income	(6,885)	(6,885)
		═══════	═══════

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Keyworth United Community Football Club Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 May 2022

21. Creditors: amounts falling due within one year

	2022	2021
	£	£
Accruals and deferred income	1,500	1,500
Social security and other taxes	226	166
	───────	───────
	1,726	1,666
	═══════	═══════
Creditors: amounts falling due after more than one year
	2022	2021
	£	£
Bank loans and overdrafts	–	42,000
	════	════════

22. Creditors: amounts falling due after more than one year

23. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
		At			At
	1	June 2021	Income	Expenditure	31 May 2022
		£	£	£	£
General funds		54,741	164,807	(162,001)	57,547
		════════	═════════	═════════	════════
		At			At
	1	June 2020	Income	Expenditure	31 May 2021
		£	£	£	£
General funds		52,021 ════════	79,771 ════════	(77,051) ════════	54,741 ════════

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