Company number: 05731575
Charity number: 1148513
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LIMITED (A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' AND TRUSTEES’ REPORT AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
MOORE CHARTERED ACCOUNTANTS OAKLEY HOUSE HEADWAY BUSINESS PARK 3 SAXON WAY WEST CORBY NORTHAMPTONSHIRE NN18 9EZ
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LIMITED (A COMPANY LIMITED BY GUARANTEE)
COMPANY INFORMATION
| Company number: | 05731575 |
|---|---|
| Charity number: | 1148513 |
| Directors and Trustees | S R Fairhall |
| R W Lattimore | |
| D Milford | |
| M A Burton | |
| SA Lattimore | |
| C A Raitt | |
| M S Jubb | |
| M Turley | |
| Secretary: | I R Hetherington |
| Registered office: | Oakley House |
| Headway Business Park | |
| 3 Saxon Way West | |
| Corby | |
| Northamptonshire | |
| NN18 9EZ | |
| Accountants: | Moore |
| Chartered Accountants | |
| Oakley House | |
| Headway Business Park | |
| 3 Saxon Way West | |
| Corby | |
| Northamptonshire | |
| NN18 9EZ | |
| Bankers: | The Cooperative Bank |
| PO Box 250 | |
| Skelmersdale | |
| Lancashire | |
| WN8 6WT | |
| Business address: | Kingsmead |
| Station Road | |
| Kings Cliffe | |
| Northamptonshire | |
| PE8 6YH |
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORTS AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
CONTENTS
| Page | |
|---|---|
| Directors' and trustees’ report | 1 |
| Independent examiner’s report | 3 |
| Statement of financial activities | 4 |
| Statement of total recognised gains and losses | 5 |
| Profit and loss account | 6 |
| Balance sheet | 7 |
| Notes | 8 |
| Detailed trading and profit and loss account | 13 |
| Schedule of overhead expenses | 14 |
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LIMITED (A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' AND TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The trustees who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the unaudited financial statements for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
Donations
There were no political donations during the year. Charitable donations did not exceed £2,000 in the year.
Trustees/Directors
The trustees/directors who served during the year were as follows:
S R Fairhall R W Lattimore D Milford M A Burton S A Lattimore C A Raitt M S Jubb I R Hetherington M Turley
Structure, governance and management
The charity is in the form of a company limited by guarantee. The directors meet formally every quarter and deal with governance according to the outcome of such meetings. As such, all major decisions are approved by all of the directors. Day to day running of the site is handled by a paid part-time administrator and volunteers who have access to directors for advice and guidance as necessary.
Objectives and activities
The principal activity of the company is the management of a community sports facility which includes raising funding for its development.
Achievements and performance
The year to 31 March 2021 has seen the charity consolidate its financial position. A decrease in restricted grant income has resulted in a deficit for the year of £18,823. A previous change in accounting policy, applied retrospectively, has meant that grant income is recognised in the Statement of Financial Activities when received and therefore is not released each year to counteract the depreciation as done previously. The directors are making efforts to ensure that future trading income will remain positive and help to protect and indeed build on its working capital resources.
Reserves policy
The balance sheet shows a positive position. The ongoing policy is to reinvest all surplus reserves into the project to improve both facilities and services.
Page 1
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LIMITED (A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' AND TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2021
This is a company limited by guarantee and therefore without share capital.
This report was approved by the board on ………………. and has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
………………………………..
Director
Page 2
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LIMITED
FOR THE YEAR ENDED 31 MARCH 2021
We report to the charity trustees on our examination of the accounts of the company for the year ended 31 March 2021 which are set out on pages 4 to 12.
Respective responsibilities of trustees and examiner
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied ourselves that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, we report in respect of our examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out our examination we have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Basis of independent examiner's report
Our 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 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 accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner's statement
We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
We confirm that there are no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Moore Chartered Accountants Oakley House Headway Business Park 3 Saxon Way West Corby Northamptonshire NN18 9EZ
………………………………..
Page 3
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LTD (A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted Restricted Note funds funds £ £ Incoming resources Incoming resources from generated funds: Voluntary income 2 561 - Investment income 3 - - Incoming resources from charitable activities 4 41,959 31,452 _ _ Total incoming resources 42,520 31,452 ––––––– ––––––– Resources expended: Cost of generating funds: Costs of generating voluntary income 5 - - Charitable activities 6 13,776 71,351 Governance costs 7 7,668 - _ _ Total resources expended 21,444 71,351 ––––––– ––––––– Net movement in funds 21,076 (39,899) ––––––– ––––––– Fund balances at 1 April 2020 7,835 95,399 _ _ Fund balances at 31 March 2021 28,911 55,500 ––––––– ––––––– |
Total 2021 £ 561 - 73,411 _ 73,972 ––––––– - 85,127 7,668 _ 92,795 ––––––– (18,823) ––––––– 103,234 _ 84,411 ––––––– |
Total 2020 £ 2,308 - 156,726 _ 159,034 ––––––– |
|---|---|---|
| - 99,694 4,177 _ 103,871 ––––––– |
||
| 55,163 ––––––– |
||
The above results are derived from continuing operations. All gains and losses recognised in the year are included above.
Page 4
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LTD (A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
FOR THE YEAR ENDED 31 MARCH 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Net movement in funds for the financial year | (18,823) | 55,163 |
| –––––––– | –––––––– | |
| Total recognised movement in funds relating to the year | (18,823) | 55,163 |
| –––––––– | –––––––– |
Page 5
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LTD (A COMPANY LIMITED BY GUARANTEE)
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
| Note | 2021 | 2020 | |
|---|---|---|---|
| £ | £ | ||
| Income | 73,972 | 159,034 | |
| Administrative expenses | (92,795) | (103,871) | |
| ––––––– | ––––––– | ||
| Operating profit/(loss) | 8 | (18,823) | 55,163 |
| Other interest receivable and similar income | - | - | |
| ––––––– | ––––––– | ||
| Profit/(loss) on ordinary activities before | taxation | (18,823) | 55,163 |
| Tax on profit on ordinary activities | 9 | - | - |
| ––––––– | ––––––– | ||
| Profit/(loss) for the year | (18,823) | 55,163 | |
| ––––––– | ––––––– |
The annexed notes form part of these financial statements.
Page 6
COMPANY NUMBER: 05731575
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LTD (A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET AS AT 31 MARCH 2021
| Note | 2021 | 2020 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Tangible assets | 11 | 42,739 | 53,596 | ||
| Current assets | |||||
| Debtors | 12 | 7,447 | 17,900 | ||
| Cash at bank and in hand | 34,255 | 34,942 | |||
| –––––––– | –––––––– | ||||
| 41,702 | 52,842 | ||||
| Creditors | |||||
| Amounts due within one year | 13 | (30) | (3,204) | ||
| –––––––– | –––––––– | ||||
| Net current assets | 41,672 | 49,638 | |||
| –––––––– | –––––––– | ||||
| Total assets less current liabilities | 84,411 | 103,234 | |||
| Creditors | |||||
| Due after more than one year | - | - | |||
| –––––––– | –––––––– | ||||
| Net liabilities | 84,411 | 103,234 | |||
| –––––––– | –––––––– | ||||
| Capital and reserves | 14 | ||||
| Restricted funds | 55,500 | 54,201 | |||
| Unrestricted funds | 28,911 | 49,033 | |||
| –––––––– | –––––––– | ||||
| 84,411 | 103,234 | ||||
| –––––––– | –––––––– |
For the year ending 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard 102. Approved by the board of directors on …………….. and signed on its behalf.
……………………………
Director
The annexed notes form part of these financial statements.
Page 7
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LTD (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting policies
These financial statements have been prepared in accordance with the statement of recommended practice FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (Charities SORP FRS 102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies’ regime. The disclosure requirements of the Charities SORP (FRS 102) have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. 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.
The place of business is given on the company information page of these financial statements.
Income
Income represents donations and grants received, as well as charges for the hire of a community sports facility.
Depreciation of fixed assets
Fixtures and fittings are depreciated at 10% per annum on a straight line basis.
Grants received
Grants are recognised in the Statement of Financial Activities when they are received.
Fund accounting
Restricted funds are designated to be those received from grant providers, which by definition are grants secured for application against specific projects.
Unrestricted funds include the occasional non-specific grants, donations and surplus income derived from the rental and operation of the project facilities.
Going concern
The trustees/directors have considered the potential impact of the coronavirus impact and have no immediate concerns in relation to the company’s long term future.
Page 8
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LTD (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
NOTES SUPPLEMENTING THE STATEMENT OF FINANCIAL ACTIVITIES
| 2. Voluntary income Unrestricted Restricted funds funds £ £ Donations 561 - –––––––– –––––––– 561 - –––––––– –––––––– 3. Investment income Unrestricted Restricted funds funds £ £ Bank interest - - –––––––– –––––––– - - –––––––– –––––––– 4. Incoming resources from charitable activities Unrestricted Restricted funds funds £ £ Hall rent 6,910 - Pitch/MUGA hire 7,560 - Tennis income 1,583 - Netball income 223 - Grant income 25,000 31,452 Other income 683 - –––––––– –––––––– 41,959 31,452 –––––––– –––––––– 5.Costs of generating voluntary income Unrestricted Restricted funds funds £ £ Festival costs - - –––––––– –––––––– - - –––––––– –––––––– |
Total 2021 £ 561 –––––––– 561 –––––––– Total 2021 £ - -––––––– - –––––––– Total 2021 £ 6,910 7,560 1,583 223 56,452 683 –––––––– 73,411 –––––––– Total 2021 £ - –––––––– - –––––––– |
Total 2020 £ 2,308 –––––––– 2,308 –––––––– Total 2020 £ - ––––––– –––––––– Total 2020 £ 5,505 5,965 1,262 - 143,994 - –––––––– 156,726 –––––––– Total 2020 £ - –––––––– - –––––––– |
|---|---|---|
Page 9
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LTD (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
6. Charitable activities
| Charitable activities | ||
|---|---|---|
| Unrestricted Restricted funds funds £ £ Hall/Pitch/MUGA maintenance 1,092 - Sundry sports equipment and fixtures - - Electricity costs 3,010 - Water rates 396 - Salaries 5,300 - Depreciation of facilities - 10,857 Internet and telephone 1,021 - Professional fees and subscriptions 2,957 - Capital expenditure - 60,494 –––––––– –––––––– 13,776 71,351 –––––––– –––––––– overnance costs Unrestricted Restricted funds funds £ £ Sundries 2,579 - Insurance 4,881 - Printing and publicity 208 - –––––––– –––––––– 7,668 - –––––––– –––––––– |
Total 2021 £ 1,092 - 3,010 396 5,300 10,857 1,021 2,957 60,494 ––––––– 85,127 –––––––– Total 2021 £ 2,579 4,881 208 –––––––– 7,668 –––––––– |
Total 2020 £ 5,125 - 4,305 976 3,500 15,614 1,149 1,880 67,145 –––––––– 99,694 –––––––– |
| Total 2020 £ 321 3,769 87 ––––––– 4,177 –––––––– |
- Governance costs
NOTES SUPPLEMENTING THE COMPANY PROFIT AND LOSS ACCOUNT
8.
| Operating profit | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| This is stated after charging: | ||
| Depreciation of owned assets | 10,857 | 15,614 |
| –––––– | –––––– |
9. Taxation
The company is a registered charity (number 1148513) and consequently has no liability to corporation tax.
10. Directors’ emoluments
The directors do not receive any emoluments in respect of their services.
Page 10
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LTD (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
NOTES SUPPLEMENTING THE CONSOLIDATED AND COMPANY BALANCE SHEET
11. Tangible fixed assets
| Leasehold Fixtures, | |||
|---|---|---|---|
| land and fittings and | |||
| buildings equipment | Total | ||
| £ £ |
£ | ||
| Cost: | |||
| At 1 April 2020 | 1 199,027 |
199,028 | |
| Additions | - - |
- | |
| –––––––– –––––––– | –––––––– | ||
| At 31 March 2021 | 1 199,027 |
199,028 | |
| –––––––– –––––––– | –––––––– | ||
| Depreciation: | |||
| At 1 April 2020 | - 145,432 |
145,432 | |
| Charge for the year | - 10,857 |
10,857 | |
| –––––––– –––––––– | –––––––– | ||
| At 31 March 2021 | - 156,289 |
156,289 | |
| –––––––– –––––––– | –––––––– | ||
| Net book value: | |||
| At 31 March 2021 | 1 42,738 |
42,739 | |
| –––––––– –––––––– | –––––––– | ||
| At 31 March 2020 | 1 53,595 |
53,596 | |
| –––––––– –––––––– | –––––––– | ||
| The land and buildings have been leased from the local parish council on a 50 year peppercorn | |||
| lease, to preserve and protect the aims of the charity. They have been written down to a minimal | |||
| value to reflect this. | |||
| 12. | Debtors |
Due within one year: Trade debtors Other debtors Taxation and social 13. Creditors - amounts falling due within one year Bank overdrafts Other creditors |
2021 £ 1,914 433 5,100 –––––– 7,447 –––––– 2021 £ - 30 –––––– 30 –––––– |
2020 £ 540 95 17,265 –––––– 17,900 –––––– 2020 £ 3,174 30 –––––– 3,204 –––––– |
|---|---|---|
Page 11
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LTD (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
14. Analysis of net assets between funds
Restricted funds Land and equipment fund Unrestricted funds |
Tangible fixed assets £ 42,739 _ 42,739 - _ 42,739 –––––––– |
Net current assets/ (liabilities) Total £ £ 12,761 55,500 _ _ 12,761 55,500 28,911 28,911 _ _ 41,672 84,411 –––––––– –––––––– |
|---|---|---|
15. Ultimate controlling party
There is no ultimate controlling party of the company.
16. Liability of directors
The company is incorporated under the Companies Act with liability limited by Guarantee. Every member of the company undertakes to contribute to the assets of the company, in the event of the company being wound up while he is a member or within one year after he ceased to be a member, for payment of the debts and liabilities of the company contracted before he ceased to be a member, and of the costs, charges and expenses of winding up and for the adjustment of the rights of the contributories amongst themselves, such amount as may be required not exceeding £5.
Page 12
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LIMITED (A COMPANY LIMITED BY GUARANTEE)
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Income | ||||
| Rent receivable | 16,276 | 12,732 | ||
| Grant income | 56,452 | 143,994 | ||
| Donations receivable | 561 | 2,308 | ||
| Other income | 683 | - |
||
| ––––––– | ––––––– | |||
| 73,972 | 159,034 | |||
| Miscellaneous other operating income | ||||
| Interest received | - | - | ||
| ––––––– | ––––––– | |||
| 73,972 | 159,034 | |||
| Overheads | ||||
| Other administrative costs | 92,795 | 103,871 | ||
| ––––––– | ––––––– | |||
| (92,795) | (103,871) | |||
| ––––––– | ––––––– | |||
| Profit/(Loss) on ordinary activities | (18,823) | 55,163 | ||
| ––––––– | ––––––– |
Page 13
KINGS CLIFFE AND AREA COMMUNITY SPORTS PROJECT LIMITED (A COMPANY LIMITED BY GUARANTEE)
SCHEDULE OF OVERHEAD EXPENSES
FOR THE YEAR ENDED 31 MARCH 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Other administrative costs | ||||
| Salaries | 5,300 | 3,500 | ||
| Utilities costs | 3,406 | 5,281 | ||
| Repairs and maintenance | 1,092 | 5,125 | ||
| Insurance | 4,881 | 3,769 | ||
| Printing, postage and stationery | 208 | 87 | ||
| Sundry expenses | 2,579 | 321 | ||
| Internet and telephone | 1,021 | 1,149 | ||
| Professional fees and subscriptions | 2,957 | 1,880 | ||
| Depreciation | 10,857 | 15,614 | ||
| Capital expenditure | 60,494 | 67,145 | ||
| –––––– | –––––– | |||
| 92,795 | 103,871 | |||
| –––––– | –––––– | |||
| Total overhead expenses | 92,795 | 103,871 | ||
| –––––– | –––––– |
Page 14