**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 2022**
## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr D Purdham Mr M Hunter **Charity number** 1148203 **Company number** 08107195 **Independent examiner** 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 2022**_
The trustees present their annual report and financial statements for the year ended 30 June 2022.
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**
The club has continued with the development of ‘Mini Soccer’ for boys and girls as well as supporting other football ranging from under 7 through to under 18’s. We continue to operate circa 28 teams, including mini soccer squads with approximately 320 members with approximately 60 volunteers. The Mini Monty ‘fun club’ has also continued to operate on a Saturday morning, providing children from the community access to sporting facilities.
We have now completed the refurbishment of the existing sports hall facilities, which was re-opened in Dec 2021 at a total cost of over 100k, due to building contractor issues and had to replace the original contractor.
We will now review the club house existing toilet facilities, which now require up dating to bring them up to a required standard. This will depend on raising the funds required to carry out this work.
## **Financial review**
The general unrestricted funds show a deficit (before transfers) for the year of £19,280. The major sources of income continue to be subscriptions and kitchen income. 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 £9,033. There has been restricted funding during the year towards the leasehold property improvements (including the new 3G football pitch) to the value of £38,562. A total of £74,131 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 consider 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.
The trustees have 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.
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2022**_
## **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 D Purdham
Mr M Hunter
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' report was approved by the Board of Trustees.
Mr D Purdham Mr M Hunter **Trustee Trustee**
16 September 2022
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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 2022, 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: 16 September 2022
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 30 JUNE 2022**_
|**Unrestricted**
**Designated**
**Restricted**
**funds**
**funds**
**funds**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
-
32,213
38,562
Incoming resources from
charitable activities
**3**
27,206
-
-
Other trading activities
**4**
1,035
-
-
Other income
**5**
-
-
-
**Total income and endowments**
28,241
32,213
38,562
**Expenditure on:**
Total resources expended
Operation of a football club
**6**
47,441
41,246
641
**Total charitable expenditure**
47,441
41,246
641
**Net (outgoing)/incoming**
**resources before transfers**
(19,200)
(9,033)
37,921
Gross transfers between funds
1,241
(1,241)
-
**Net (expenditure)/income for the year/**
**Net movement in funds**
(17,959)
(10,274)
37,921
Fund balances at 1 July 2021
63,456
62,183
17,103
**Fund balances at 30 June 2022**
45,497
51,909
55,024|**Total**
**2022**
**£**
70,775
27,206
1,035
-
99,016
89,328
89,328
9,688
-
9,688
142,742
152,430|**Total**
**2021**
**£**
47,337
31,615
-
1,150|
|---|---|---|
|||80,102|
|||57,581|
|||57,581|
|||22,521
-|
|||22,521
120,221|
|||142,742|
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 2022**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**11**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**12**
Unresticted funds
Designated funds
General unrestricted funds|**2022**
**£**
7,875
(3,135)|**£**
147,690
4,740
152,430
55,024
51,909
45,173
152,430|**2021**
**£**
70,861
(2,775)|**£**
74,656
68,086|
|---|---|---|---|---|
|||||142,742|
|||||17,103
62,183
27,705|
|||||142,742|
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 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 16 September 2022
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 2022**_
## **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, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 not to prepare a Statement of Cash Flows.
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 £.
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 income 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 2022**_
## **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 Computers
Over the length of the lease Straight Line - 3 Years
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 the statement of financial activities.
## **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 2022**_
- **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 payments 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**|**Unrestricted**|**Designated**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
||**funds**|**funds**|**funds**|**2022**|**2021**|
||**£**|**£**|**£**|**£**|**£**|
|Sponsorship income and contributions||||||
|to team accounts|-|32,213|-|32,213|20,035|
|Grants received|-|-|38,562|38,562|27,302|
||-|32,213|38,562|70,775|47,337|
|**For the year ended 30 June 2021**|10,000|20,035|17,302||47,337|
|**Incoming resources from charitable activities**||||||
||||**Subscriptions**|
Subscriptions and||
||||**and kitchen**|
kitchen|income|
||||**income**|||
||||**2022**||2021|
||||**£**||£|
|Subscriptions, kitchen income and other club||||||
|monies||||||
||||27,206||31,615|
## **3 Incoming resources from charitable activities**
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**MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2022**_
|**4**|**Other trading activities**|||
|---|---|---|---|
|||**Unrestricted**|Total|
|||**funds**||
|||**2022**|2021|
|||**£**|£|
||Fundraising events|1,035|-|
|**5**|**Other income**|||
|||**Total**|Unrestricted|
||||funds|
|||**2022**|2021|
|||**£**|£|
||Insurance claim|-|1,150|
|**6**|**Total resources expended**|||
|||**2022**|**2021**|
|||**£**|**£**|
||Depreciation and impairment|2,021|770|
||Costs incurred in the operation of a football club|87,307|56,811|
|||89,328|57,581|
## **7 Governance costs**
Governance costs includes payments in respect of the independent examination and accountancy fees of £1,980 (2021- £1,980).
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or expenses during the year.
## **9 Employees**
There were no employees during the year.
There were no employees whose annual remuneration was £60,000 or more.
- 9 -
## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2022**_
## **10 Tangible fixed assets**
|**10**
**Tangible fixed assets**||
|---|---|
|**Leasehold**
**improvements**
**Computers**
**£**
**£**
**Cost**
At 1 July 2021
76,026
-
Additions
74,131
924
At 30 June 2022
150,157
924
**Depreciation and impairment**
At 1 July 2021
1,370
-
Depreciation charged in the year
1,713
308
At 30 June 2022
3,083
308
**Carrying amount**
At 30 June 2022
147,074
616
At 30 June 2021
74,656
-
**11**
**Creditors: amounts falling due within one year**
**2022**
**£**
Accruals and deferred income
3,135|**Total**
**£**
76,026
75,055|
||151,081|
||1,370
2,021|
||3,391|
||147,690|
||74,656|
||**2021**
**£**
2,775|
## **12 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 in funds**|**Movement in funds**||**Movement in funds**|**Movement in funds**||
|---|---|---|---|---|---|---|
||**Incoming**|**Resources**|**Balance at**|**Incoming**|**Resources**|**Balance at**|
||**resources**|**expended**
**1 July 2021**||**resources**|**expended**|**30 June**|
||**£**|**£**|**£**|**£**|**£**|**2022**
**£**|
|Football Foundation|17,302|(199)|17,103|7,698|(287)|24,514|
|Banks Community Fund|-|-|-|5,500|(63)|5,437|
|Suez Grant|-|-|-|18,364|(211)|18,153|
|William Hunter|||||||
|Goalkeeping Fund|-|-|-|7,000|(80)|6,920|
||17,302|(199)|17,103|38,562|(641)|55,024|
The funding from the Football Foundation, The Banks Community Fund, The Suez Grant and the William Hunter Goalkeeping Fund were all towards the additional leasehold improvement costs including the new 3G pitch. The charge against the funds represents the depreciation in the period. It should be noted however all the funds have been cash expended.
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2022**_
## **13 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 2020**
**Incoming**
**Resources**
**Resources**
**Expended**
**£**
**£**
**£**
Team Fund Accounts
14,212
20,035
(20,777)
Clubhouse Fund
49,556
-
(571)
63,768
20,035
(21,348)|**Movement in funds**
**Transfers**
**Balance at**
**1 July 2021**
**Incoming**
**Resources**
**Resources**
**Expended**
**£**
**£**
**£**
**£**
(272)
13,198
32,213
(40,675)
-
48,985
-
(571)
(272)
62,183
32,213
(41,246)|**Transfers**
**Balance at**
**30 June**
**2022**
**£**
**£**
(1,241)
3,495
-
48,414
(1,241)
51,909|**Transfers**
**Balance at**
**30 June**
**2022**
**£**
**£**
(1,241)
3,495
-
48,414
(1,241)
51,909|
|---|---|---|---|
||||51,909|
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.
## **14 Analysis of net assets between funds**
|**Unrestricted**
**Designated**
**Restricted**
**funds**
**2022**
**2022**
**2022**
**£**
**£**
**£**
Fund balances at 30 June 2022 are represented by:
Tangible assets
44,252
48,414
55,024
Current assets/(liabilities)
1,245
3,495
-
45,497
51,909
55,024|**Total**
Unrestricted
Designated
Restricted
funds
**2022**
2021
2021
2021
**£**
£
£
£
147,690
25,448
32,105
17,103
4,740
38,008
30,078
-
152,430
63,456
62,183
17,103|Total
2021
£
74,656
68,086|
|---|---|---|
|||142,742|
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## **MONTAGU & NORTH FENHAM FOOTBALL CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2022**_
## **15 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
- 12 -