**Charity Registration No. 1148203**
**Company Registration No. 08107195 (England and Wales)**
# **MONTAGU & NORTH FENHAM FOOTBALL CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 JUNE 2021**
## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Mr D Purdham Mr M Hunter
(Appointed 3 August 2020) (Appointed 3 August 2020)
**Charity number** 1148203
**Company number** 08107195 **Independent examiner** P Killen
P Killen Stokoe Rodger LLP 15 Bankside Gateshead Tyne and Wear NE11 9SY
## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 12|
## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 30 JUNE 2021**_
The trustees present their report and financial statements for the year ended 30 June 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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**
The charity's objects are for the benefit of the public generally, and in particular, the inhabitants of Slatyford and North Fenham, Newcastle upon Tyne and their surrounding areas:
- To help and educate children and young people through leisure time activities and such other means as the trustees think fit in accordance with the law of charity so as to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society;
- To promote community participation in healthy recreation by providing facilities for the playing of Association Football and other sports capable of improving health;
- To provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interest of social welfare and with the object of improving their conditions of life;
- To advance the education of the public through such means as the trustees think fit in accordance with the law of charity.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
Unfortunately, the club operations were again severely disrupted by the Covid-19 pandemic. All leagues, fixtures, training, trips and the club facilities and suspended for long periods of time, throughout the 2020-21 season with a great loss of revenue. Again, we were not able to have our end of season presentation.
The club continued with the develop minis soccer for both boys and girls, as well as supporting other aspects of the football ranging from under 7 through to under 17’s. We continue to operate circa 30 teams including mini soccer squads with approximately 320 members. The ‘Mini Mony’ fun club has also continued to operate on a Saturday morning providing children from the community access to sporting facilities.
We have also commenced work to improve the existing sports hall, which is ongoing, costing circa £80k
## **Financial review**
The general unrestricted funds show a surplus (before transfers) for the year of £6,731. The major sources of income continue to be subscriptions and kitchen income. However as a result of the covid pandemic the charity received Local Government Support of £10,000. The sponsorship income, specific to the team accounts is included in designated funds and this fund shows a deficit for the year (before transfers) of £1,313. There has been restricted funding during the year towards the leasehold property improvements to the value of £17,302. A total of £42,750 has been spent on the leasehold property improvements during the year.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2021**_
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
Montagu & North Fenham Football Club is a charitable company limited by guarantee, incorporated on 15 June 2012 and registered as a charity on 19 July 2012. It was established under the Memorandum of Association which established its objects and powers and governed under its Articles of Association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr G Arkley (Resigned 31 May 2021) Mr G Harland (Resigned 31 May 2021) Mr D Purdham (Appointed 3 August 2020) Mr M Hunter (Appointed 3 August 2020)
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' r eport was approved by the Board of Trustees.
## **Mr D Purdham**
Trustee Dated: 23 November 2021
## **Mr M Hunter**
Trustee Dated:23 November 2021
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF MONTAGU & NORTH FENHAM FOOTBALL CLUB**
I report on the financial statements of the charity for the year ended 30 June 2021, which are set out on pages 4 to 12.
## **Respective responsibilities of trustees and examiner**
The trustees, who are also the directors of Montagu & North Fenham Football Club for the purposes of company law, are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011, the 2011 Act, and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- (i) examine the financial statements under section 145 of the 2011 Act;
- (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- (iii) to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (a) which gives me reasonable cause to believe that in any material respect the requirements:
- (i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- (ii) to prepare financial statements which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;
- have not been met or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
P Killen Stokoe Rodger LLP
15 Bankside The Watermark Gateshead Tyne and Wear NE11 9SY
Dated: 23 November 2021
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 30 JUNE 2021**_
|**Unrestricted Designated**
**Restricted**
**funds**
**funds**
**funds**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
10,000
20,035
17,302
Incoming resources from
c haritable activities
**3**
31,615
-
-
Other income
**4**
1,150
-
-
**Total income and endowments**
42,765
20,035
17,302
**Expenditure on:**
Total resources expended
Operation of a football club
**5**
36,034
21,348
199
**Total charitable expenditure**
36,034
21,348
199
**Net incoming resources before**
**transfers**
6,731
(1,313)
17,103
Gross transfers between funds
272
(272)
-
**Net income for the year/**
**Net movement in funds**
7,003
(1,585)
17,103
Fund balances at 1 July 2020
56,453
63,768
-
**Fund balances at 30 June 2021**
63,456
62,183
17,103|**Total**
**2021**
**£**
47,337
31,615
1,150
80,102
57,581
57,581
22,521
-
22,521
120,221
142,742|**Total**
**2020**
**£**
32,179
84,396
-
116,575
100,542
100,542
16,033
-
16,033
104,188
120,221|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **BALANCE SHEET**
## _**AS AT 30 JUNE 2021**_
|**Notes**
**Fixed assets**
Tangible assets
**9**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**10**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**11**
Unresticted funds
Designated funds
General unrestricted funds|**2021**
**£**
70,861
(2,775)|**£**
74,656
68,086
142,742
17,103
62,183
45,173
142,742|**2020**
**£**
89,960
(2,415)|**£**
32,676
87,545
120,221
-
63,768
27,705
120,221|
|---|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2021.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 23 November 2021
Mr D Purdham **Trustee**
Mr M Hunter **Trustee**
**Company Registration No. 08107195**
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**MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 JUNE 2021**_
## **1 Accounting policies**
## **Charity information**
Montagu & North Fenham Football Club is a private company limited by guarantee incorporated in England and Wales. The registered office is .
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, 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 financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.
## **1.4 Incoming resources**
All i ncome is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
## **1.5 Resources expended**
Resources expended are included in the statement of financial statements on an accruals basis.
Most expenditure is directly attributable to specific activities and has been included those costs categories. Where costs cannot be directly attributable to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Corporate governance costs includes those costs associated with the constitutional and statutory requirements of the charity and include the independent examination fee and costs linked to the strategic management of the charity.
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2021**_
## **1 Accounting policies**
**(Continued)**
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
Over the length of the lease
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/ (expenditure for the year , unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
## **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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**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.
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**MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2021**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
## **2 Donations and legacies**
|**Unrestricted Designated**
**Restricted**
**funds**
**funds**
**funds**
**£**
**£**
**£**
Sponsorship income and contributions
to team accounts
-
20,035
-
Grants received
10,000
-
17,302
10,000
20,035
17,302
**For the year ended 30 June 2020**
600
31,579
-|**Total**
**2021**
**£**
20,035
27,302
47,337|**Total**
**2020**
**£**
31,579
600
32,179
32,179|
|---|---|---|
## **3 Incoming resources from c haritable activities**
||**Subscriptions**|Subscriptions and|
|---|---|---|
||**and kitchen**|kitchen income|
||**income**||
||**2021**|2020|
||**£**|£|
|Subscriptions, kitchen income and other club|||
|monies|||
||31,615|84,396|
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2021**_
## **4 Other income**
|**Unrestricted**
**funds**
**2021**
**£**
Insurance claim
1,150
**Total resources expended**
**2021**
**£**
Depreciation and impairment
770
Costs incurred in the operation of a football club
56,811
57,581|Total
2020
£
-
**2020**
**£**
337
100,205
100,542|
|---|---|
## **5 Total resources expended**
## **6 Governance costs**
Governance costs includes payments in respect of the independent examination and accountancy fees of £ 1,980 (2020- £ 1,920 ).
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration during the year, but one of the trustees, Mr G Arkley, received expenses to the value of £1,000 (2020- £Nil ) and a person connected to him, Miss H L Winding received £800 in respect of subscription management.
## **8 Employees**
There were no employees during the year.
There were no employees whose annual remuneration was £60,000 or more.
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2021**_
|**9**|**Tangible fixed assets**|||
|---|---|---|---|
|||**Leasehold**|**improvements**|
||||**£**|
||**Cost**|||
||At 1 July 2020||33,276|
||Additions||42,750|
||At 30 June 2021||76,026|
||**Depreciation and impairment**|||
||At 1 July 2020||600|
||Depreciation charged in the year||770|
||At 30 June 2021||1,370|
||**Carrying amount**|||
||At 30 June 2021||74,656|
||At 30 June 2020||32,676|
|**10**|**Creditors: amounts falling due within one year**|||
|||**2021**|**2020**|
|||**£**|**£**|
||Accruals and deferred income|2,775|2,415|
## **11 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
||**Movement**||**Movement in funds**|**Movement in funds**||
|---|---|---|---|---|---|
||**in funds**|||||
||**Incoming**|**Balance at**|**Incoming**|**Resources**|**Balance at**|
||**resources**|**1 July 2020**|**resources**|**expended**|**30 June 2021**|
||**£**|**£**|**£**|**£**|**£**|
|Football Foundation|-|-|17,302|(199)|
17,103|
The funding from the Football Foundation was towards the additional leasehold improvement costs. The charge against the fund represents the depreciation in the period.
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2021**_
## **12 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|**Movement in funds**
**Balance at**
**1 July 2019**
**Incoming**
**Resources**
**Resources**
**Expended**
**£**
**£**
**£**
Team Fund Accounts
9,122
31,579
(25,821)
Clubhouse Fund
49,893
-
(337)
59,015
31,579
(26,158)|**Movement in funds**
**Transfers**
**Balance at**
**1 July 2020**
**Incoming**
**Resources**
**Resources**
**Expended**
**£**
**£**
**£**
**£**
(668)
14,212
20,035
(20,777)
-
49,556
-
(571)
(668)
63,768
20,035
(21,348)|**Transfers**
**Balance at**
**30 June 2021**
**£**
**£**
(272)
13,198
-
48,985
(272)
62,183|
|---|---|---|
Team Fund Accounts - Relates to income and expenditure in respect of the various teams run by the charity.
Clubhouse Fund - Relates to funds set aside by the Trustees in respect of the proposed new clubhouse.
## **13 Analysis of net assets between funds**
|**Unrestricted Designated**
**Restricted**
**funds**
**2021**
**2021**
**2021**
**£**
**£**
**£**
Fund balances at 30 June 2021 are represented by:
Tangible assets
25,448
32,105
17,103
Current assets/(liabilities)
38,008
30,078
-
63,456
62,183
17,103|**Total**Unrestricted Designated
**2021**
2020
2020
**£**
£
£
74,656
-
32,676
68,086
56,453
31,092
142,742
56,453
63,768|Total
2020
£
32,676
87,545
120,221|
|---|---|---|
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
# **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2021**_
## **14 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none) .
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