2023-06-30-accounts

Charity registration number 1148203

Company registration number 08107195 (England and Wales)

MONTAGU & NORTH FENHAM FOOTBALL CLUB

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

MONTAGU & NORTH FENHAM FOOTBALL CLUB

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Mr D Purdham
	M J Hunter
Charity number	1148203
Company number	08107195
Registered office	15 Bankside
	The Watermark
	Gateshead
	Tyne and Wear
	NE11 9SY
Independent examiner	P Killen
	TC Group
	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 - 6
Notes to the financial statements	7 - 15

MONTAGU & NORTH FENHAM FOOTBALL CLUB

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 30 JUNE 2023

The trustees present their annual report and financial statements for the year ended 30 June 2023.

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.

Public benefit

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 both boys and girls as well as catering for football teams ranging from u7 to u18's

We currently operate with 18 teams including mini soccer squads with approximately 220 members with approximately 50 volunteers. Our Mini monty fun club also continues to operate on a Saturday morning providing children from the community access to sporting facilities.

The club is still trying to access funding to upgrade our toilet facilities at the club house to bring them to the required standard.

Financial review

The general unrestricted funds show a surplus (before transfers) for the year of £2,359. 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 £543.

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MONTAGU & NORTH FENHAM FOOTBALL CLUB

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

Reserves policy

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.

Major risks

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.

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

M J 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 M J Hunter Trustee Trustee 14 September 2024

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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 2023, which are set out on pages 4 to 15.

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 TC Group

15 Bankside The Watermark Gateshead Tyne and Wear NE11 9SY

Dated: 16 September 2024

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MONTAGU & NORTH FENHAM FOOTBALL CLUB

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2023

Unrestricted Designated Restricted funds funds funds Notes £ £ £ Income from: Donations and legacies 2 - 15,259 - Incoming resources from charitable activities 3 23,008 - - Other trading activities 4 - - - Total income 23,008 15,259 - Expenditure on: Total resources expended Operation of a football club 5 20,649 15,802 641 Total charitable expenditure 20,649 15,802 641 Net income/(expenditure) for the year/ Net movement in funds 2,359 (543) (641) Fund balances at 1 July 2022 45,497 51,909 55,024 Fund balances at 30 June 2023 47,856 51,366 54,383	Total 2023 £ 15,259 23,008 - 38,267 37,092 37,092 1,175 152,430 153,605	Total 2022 £ 70,775 27,206 1,035
		99,016
		89,328
		89,328
		9,688 142,742
		152,430

The statement of financial activities includes all gains and losses recognised in the year.

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 2023

Notes Fixed assets Tangible assets 11 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Income funds Restricted funds 13 Designated funds 14 General unrestricted funds	2023 £ 11,431 (3,495)	£ 145,669 7,936 153,605 54,383 51,366 47,856 153,605	2022 £ 7,875 (3,135)	£ 147,690 4,740
				152,430
				55,024 51,909 45,497
				152,430

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MONTAGU & NORTH FENHAM FOOTBALL CLUB

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2023

----- Start of picture text -----
2023 2022
Notes £ £ £ £
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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 2023.

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 14 September 2024

Mr D Purdham	M J Hunter
Trustee	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 2023

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 15 Bankside, The Watermark, Gateshead, Tyne and Wear, NE11 9SY.

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

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MONTAGU & NORTH FENHAM FOOTBALL CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

(Continued)

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.

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 Computers 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).

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MONTAGU & NORTH FENHAM FOOTBALL CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

(Continued)

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.

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.

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MONTAGU & NORTH FENHAM FOOTBALL CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

2 Donations and legacies

Designated Restricted funds funds £ £ Sponsorship income and contributions to team accounts 15,259 - Grants received - - 15,259 - For the year ended 30 June 2022 32,213 38,562	Total 2023 £ 15,259 - 15,259	Total 2022 £ 32,213 38,562
		70,775
		70,775

3 Incoming resources from charitable activities

		Subscriptions	Subscriptions and	Subscriptions and
		and kitchen	kitchen income
		income
		2023		2022
		£		£
	Subscriptions, kitchen income and other club
	monies
		23,008		27,206
4	Income from other trading activities
		Unrestricted		Unrestricted
		funds		funds
			2023	2022
			£	£
	Fundraising events		-	1,035

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MONTAGU & NORTH FENHAM FOOTBALL CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

5 Total resources expended

Depreciation and impairment Costs incurred in the operation of a football club	2023 £ 2,021 35,071 37,092	2022 £ 2,021 87,307
		89,328

6 Governance costs

Governance costs includes payments in respect of the independent examination and accountancy fees of £1,980 (2022- £1,980).

7	Net movement in funds	2023	2022
		£	£
	The net movement in funds is stated after charging/(crediting):
	Depreciation of owned tangible fixed assets	2,021	2,021

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.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

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MONTAGU & NORTH FENHAM FOOTBALL CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

11 Tangible fixed assets Leasehold improvements £ Cost At 1 July 2022 150,157 At 30 June 2023 150,157 Depreciation and impairment At 1 July 2022 3,083 Depreciation charged in the year 1,713 At 30 June 2023 4,796 Carrying amount At 30 June 2023 145,361 At 30 June 2022 147,074 12 Creditors: amounts falling due within one year Accruals and deferred income 13 Restricted funds		Computers £ 924 924 308 308 616 308 616 2023 £ 3,495	Total £ 151,081
			151,081
			3,391 2,021
			5,412
			145,669
			147,690
			2022 £ 3,135

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

	At 1 July 2022	Incoming	Resources	At 30 June
		resources	expended	2023
	£	£	£	£
Football Foundation	24,514	-	(287)	24,227
Banks Community Fund	5,437	-	(63)	5,374
Suez Grant	18,153	-	(211)	17,942
William Hunter Goalkeeping Fund	6,920	-	(80)	6,840
	55,024	-	(641)	54,383

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MONTAGU & NORTH FENHAM FOOTBALL CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

13	Restricted funds					(Continued)
	Previous year:	At	1 July 2021	Incoming	Resources	At 30 June
				resources	expended	2022
			£	£	£	£
	Football Foundation		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
			17,103	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.

14 Designated funds

	At	1 July 2022	Incoming	Resources	Transfers	At 30 June
			resources	expended		2023
		£	£	£	£	£
Team Fund Accounts		3,495	15,259	(15,231)	-	3,523
Clubhouse Fund		48,414	-	(571)	-	47,843
		51,909	15,259	(15,802)	-	51,366
Previous year:	At	1 July 2021	Incoming	Resources	Transfers	At 30 June
			resources	expended		2022
		£	£	£	£	£
Team Fund Accounts		13,198	32,213	(40,675)	(1,241)	3,495
Clubhouse Fund		48,985	-	(571)	-	48,414
		62,183	32,213	(41,246)	(1,241)	51,909

Clubhouse Fund - Relates to funds set aside by the Trustees in respect of the proposed new clubhouse.

Team Fund Accounts - Relates to income and expenditure in respect of the various teams run by the charity.

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MONTAGU & NORTH FENHAM FOOTBALL CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At 1 July 2022	At 1 July 2022	Incoming	Resources	Transfers	At 30 June
			resources	expended		2023
		£	£	£	£	£
General funds		45,497	23,008	(20,649)	-	47,856
Previous year:	At 1 July 2021		Incoming	Resources	Transfers	At 30 June
			resources	expended		2022
		£	£	£	£	£
General funds		63,456	28,241	(47,441)	1,241	45,497
Analysis of net assets between funds
			Unrestricted	Designated	Restricted	Total
			funds	funds	funds
			2023	2023	2023	2023
			£	£	£	£
Fund balances at 30 June 2023 are represented			by:
Tangible assets			43,443	47,843	54,383	145,669
Current assets/(liabilities)			4,413	3,523	-	7,936
			47,856	51,366	54,383	153,605

16 Analysis of net assets between funds

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MONTAGU & NORTH FENHAM FOOTBALL CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

16 Analysis of net assets between funds

(Continued)

Unrestricted Designated Restricted funds funds 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 2022 £ 147,690 4,740
	152,430

17 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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