Registered number 08158445
Maccabi London Brady Recreational Trust (A Company Limited by Guarantee)
Report and Accounts
30 June 2021
Registered Charity Number 1149701 Company Registration Number 08158445
Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Report and accounts Contents
| Page | |
|---|---|
| Charity information | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance Sheet | 7 |
| Statement of cash flows | 8 |
| Notes to the accounts | 9 - 14 |
Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Company Information
Trustees
D Kyte A Landesberg J Leek J Nathan LS Glassar
Independent Examiner
Rayner Essex LLP Chartered Accountants Faulkner House Victoria Street St Albans AL1 3SE
Registered office
Rowley Lane Sports Ground Rowley Lane Arkley Herts EN5 3HW
Registered number
08158445
Registered Charity number
1149701
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Registered number: 08158445 Trustees' Annual Report for the year ended 30 June 2021
The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual report together with the financial statements of the company for the year 1 July 2020 to 30 June 2021. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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 2015) as amended by Update bulletin 1 (effective 1 January 2015).
Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013 is not required.
The Trustees, who are also the directors for the purposes of Company law, and who served during the year were:
D Kyte A Landesberg J Leek J Nathan N Kenton (resigned 8 March 2021) LS Glassar
Objectives and Activities
a. Policies and objectives
The company's objective is to provide, for youth in the United Kingdom, facilities for recreation and other leisure time occupation; such facilities to be provided in the interests of social welfare within the meaning and subject to conditions of the Recreational Charities Act 1958; also to promote the education of the public and the advancement of religion among youth in the United Kingdom.
The Trustees have developed their strategic plans to ensure that the Company plans provides public benefit and achieves its objectives as set out in the Memorandum of Association. These objectives fall under the purposes defined by the Charities Act 2011. The Trustees have referred to the Charity Commission's general guidance on public benefit when reviewing the Company's aims and objectives, and in planning future activities. In particular, the Trustees consider how planned objectives will contribute to the aims and objectives they have set.
b. Strategies for achieving objectives
The Company's main long-term strategy is to use the sports ground to provide the finest sporting facilities possible for the local community. In addition, the Company's long-term strategy is to make Maccabi London the focal point for the local youth community.
c. Activities for achieving objectives
From 1 January 2013, the charitable Company took over the operations of the Rowley Lane sports ground and have continued to operate it throughout the period to 30 June 2021.
On a day to day basis, the charitable Company currently focuses on providing venue facilities that are used for a diverse range of activities, for example nursery education, dance and other social events. However, the Company's main focus is to encourage the community to use its sporting facilities. Football is its main focus and teams of all ages are actively encouraged to participate. To date, teams ranging from under 6 through to over 55's (Masters) regularly play at Rowley Lane sports ground. The all-weather pitch generates significant levels of income.
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Registered number: 08158445 Trustees' Annual Report for the year ended 30 June 2021
Achievements and performance
From July 2020 the site again opened for outside sporting activities, enabling the pitch income stream to be turned on and active again. Indoor bar and banqueting activities were curtailed until the government again allowed recommencement of these activities.
The Trust took the decision to launch their annual fundraising event on-line. It was an extremely successful campaign and raised over £650,000 for the Charity. The Charity has used funds from this campaign to renew all the drainage and construct a new playing surface for both football pitches. The cost of this work to 30 June 2021 is included within Construction Work In Progress in Fixed Assets on the balance sheet. The condition of both the existing pitches had deteriorated from the collapse of the drainage system underneath the surface. The pitches will be bedded in and available for use from August/September 2022.
The Charity also continued to help various other charities in their support to the NHS and ancillary workers. The Charity also made the site available to other charities to help them in their goal to raise money for Mental Health awareness, especially for the younger generations.
Overall, the Company's income was £936,000; this was £468,000 higher than the previous year, due to £511,000 more donations received, £13,000 more income from charitable and fund - raising activities offset by £56,000 less other income and investment income. The company received other income of £61,000 (2020: £108,000) from government and other grants supporting the charity for business closure during the national lockdown due to the coronavirus pandemic, and insurance claim receipts for pitch damage repairs. Expenditure decreased by £94,000 to £439,000, mainly due to the decrease in wages and salary costs and reduced premises expenditure due to the coronavirus restrictions.
Financial review
a. Going concern
After making appropriate enquires, the trustees have a reasonable expectation that the company had adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
b. Reserves policy
At the balance sheet date, the charity's total funds had increased by £498,000 to £998,000. Of this sum, £560,000 is represented by fixed assets. The charity was granted a 3 year loan of £200,000 in 2020 under the coronavirus business interruption loan facility scheme. After the year end, the term of this loan was extended by 3 years to 6 years. The current assets of £698,000 will adequately fund day-to-day activities and some small expenditure on improvements. However, we continue to monitor the cash flow carefully in order to maintain a contingency of at least £30,000. Over the medium term, the trustees aim to build reserves to fund an expansion of the charity's activities and further improve the charity's facilities.
Structure, governance and management
a. Constitution
The Company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 26 July 2012. It is a registered charity (number 1149701).
The purposes of the charitable company are to promote all purposes recognised as charitable under the law of England and Wales and in particular the promotion of, and the provision of facilities for, participation in sport, recreation and education, particularly (but not exclusively) in the Jewish community and with and emphasis on youth in sport and recreation.
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Registered number: 08158445 Trustees' Annual Report for the year ended 30 June 2021
b. Method of appointment or election of Trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Risk management
The Trustees routinely assess the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, ensuring that systems and procedures are in place to mitigate our exposure to the major risks. They review this assessment regularly.
The Trustees meet a few times every year to review financial and operating information and to discuss fundraising and capital projects.
Trustees’ responsibilities statement
The Trustees (who are also directors of Maccabi London Brady Recreational Trust for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statement unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently
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observe the methods and principles in the Charities SORP;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the trustees on 16 March 2022 and signed on its behalf by:
D Kyte Director
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Independent Examiner's Report to the Trustees of Maccabi London Brady Recreational Trust ( A Company Limited by Guarantee)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021, which are set out on pages 6 to 14.
Responsibilities and basis of report
As the charity's 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 myself 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, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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The accounts do not accord with those records; or
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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
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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).
The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW).
I have no concerns and have come across 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.
Neil Heyes FCA (Senior Statutory Auditor) for and on behalf of Rayner Essex LLP Chartered Accountants St Albans Accountants and Statutory Auditors 16 March 2022 AL1 3SE
Faulkner House Victoria Street St Albans
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Statement of Financial Activities including Income and Expenditure Accounts for the year ended 30 June 2021
| Notes Income from: Donations and legacies 2 Charitable activities 3 Other trading activities 5 Investments 4 Other 6 Total income Expenditure on: Raising funds Charitable activities 7 Total expenditure Net income/ (expenditure) before other recognised gains and losses Net movements in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 565,000 237,959 72,793 48 60,534 936,334 32,624 406,271 438,895 497,439 497,439 500,442 997,881 |
Unrestricted funds 2020 £ 53,358 256,854 41,055 8,161 108,382 467,810 135 533,265 533,400 (65,590) (65,590) 566,032 500,442 |
|---|---|---|
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Registered number: 08158445 Balance Sheet as at 30 June 2021
| Notes Fixed assets Tangible assets 12 Current assets Stocks 13 Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Net assets Charity funds Unrestricted funds 19 Total funds |
2021 £ 559,722 559,722 1,131 35,981 661,124 698,236 (67,661) 630,575 1,190,297 (192,416) 997,881 997,881 997,881 |
2020 £ 515,112 515,112 1,328 55,512 219,056 275,896 (97,808) 178,088 693,200 (192,758) 500,442 500,442 500,442 |
|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
D Kyte Director Approved by the board on 16 March 2022
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Statement of Cash Flows for the year ended 30 June 2021
| Operating activities Profit/(loss) for the financial year Adjustments for: Finance income on coronavirus business interruption loan facility scheme Interest receivable Interest payable Depreciation Decrease in stocks Decrease/(increase) in debtors Decrease in creditors Interest received Cash generated by/(used in) operating activities Investing activities Payments to acquire tangible fixed assets Cash used in investing activities Financing activities Proceeds from new loans Repayment of loans Cash (used in)/generated by financing activities Net cash generated Cash generated by/(used in) operating activities Cash used in investing activities Cash (used in)/generated by financing activities Net cash generated Cash and cash equivalents at 1 July Cash and cash equivalents at 30 June Cash and cash equivalents comprise: Cash at bank |
2021 £ 497,439 - (48) 8,374 50,428 197 19,531 (30,147) 545,774 48 545,822 (95,038) (95,038) - (8,716) (8,716) 545,822 (95,038) (8,716) 442,068 219,056 661,124 661,124 661,124 |
2020 £ (65,590) (8,152) (9) 910 48,505 1,927 (6,820) (5,205) (34,434) 9 (34,425) (15,938) (15,938) 200,000 - 200,000 (34,425) (15,938) 200,000 149,637 69,419 219,056 219,056 219,056 |
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Notes to the Accounts for the year ended 30 June 2021
1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - Charities SORP (FRS 102); FRS 102, the Financial Reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard); and the Companies Act 2006.
Maccabi London Brady Recreational Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
Income
Income received from donations, Gift Aid Tax and charitable activities is measured at the fair value of the consideration received or receivable. Income is recognised when the charity has entitlement to the funds, any performance conditions attached the item of income have been met, it is probable that the income will be received and the amount can be reliably measured. Income received in advance of the provision of services is deferred until the criteria for income recognition are met.
Government and other grants for the purpose of giving immediate financial support with no future related costs, including those from the Government job retention scheme, are recognised under the accrual model as income in the period in which it becomes receivable.
Expenditure
Expenditure, inclusive of any VAT that cannot be recovered, is recognised once there is a legal and constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.
Support costs are those costs incurred directly in support of expenditure on the objects of the company and included project management carried in Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Costs of raising funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Short-term leasehold property over the term of the lease Fixtures and fittings 25% reducing balance Computer equipment 25% reducing balance Sports equipment 25% reducing balance Construction Work in Progress no depreciation until brought into use as shortterm leasehold property
Stocks
Stocks are valued at the lower of costs and net realisable value, after making due allowance for obsolete and slow-moving stocks.
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Notes to the Accounts for the year ended 30 June 2021
Debtors
Trade and other debtors are measured at transaction price (which is usually the invoice price), less any trade discount offered and impairment losses for bad and doubtful debts. Prepayments are valued at the amount prepaid net of any trade discount due.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in the furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising funds and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
| 2 Income from donations and legacies Donations 3 Income from charitable activities Football pitch hire income Hall and facilities hire income Camp and sporting program income Catering and bar income Car park income 4 Investment income Other investment income Finance income on coronavirus business interruption loan facility scheme (see note 17) |
2021 £ 565,000 565,000 2021 £ 170,345 48,042 - 16,346 3,226 237,959 2021 £ - 48 48 |
2020 £ 53,358 53,358 2020 £ 156,492 44,204 3,775 43,289 9,094 256,854 2020 £ 8,152 9 8,161 |
|---|---|---|
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Notes to the Accounts
for the year ended 30 June 2021
| 5 Other trading activities Fundraising income 6 Other income Grant income Insurance claim income |
2021 £ 72,793 2021 £ 56,061 4,473 60,534 |
2020 £ 41,055 2020 £ 54,352 54,030 108,382 |
|---|---|---|
Grant income includes grants received under the Coronavirus Job Retention Scheme of £28,575 (2020: £19,352), a local authority hospitality grant of £27,486 (2020: £25,000) and other grants of £nil (2020: £10,000).
7 Analysis of expenditure by activities
| Charitable activities 8 Direct cost Pitch and ground maintenance Camp and youth program expenditure Bar and catering expenses Car park expenses Advertising and recruitment Premises expenditure Postage, stationery and printing Telephone and fax Computer expenses Insurance Sundry expenses Football expenses Bad debts Staff cost Depreciation |
Activities undertaken directly 2021 £ 358,164 |
Support costs 2021 £ 48,107 |
Total 2021 £ 406,271 2021 £ 94,538 127 4,926 790 5,959 64,399 355 1,455 6,567 8,938 7,815 110 208 111,549 50,428 358,164 |
Total 2020 £ 533,265 2020 £ 158,495 8,024 17,026 2,947 2,930 66,360 658 1,536 5,214 7,743 14,907 2,882 - 173,221 48,505 510,448 |
|---|---|---|---|---|
The charity benefited from a rates holiday between April 2020 and March 2021 and a reduced rates charge from April 2021 to June 2021.
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Notes to the Accounts
for the year ended 30 June 2021
9 Support cost
| Governance Support costs Total 2021 2021 2021 £ £ £ Bank charges - 5,038 5,038 Bank loan interest - 8,374 8,374 Subscriptions and licences - 1,000 1,000 Bookkeeping and consultancy - 13,045 13,045 Legal fees - 17,750 17,750 Independent Examination fee 2,900 - 2,900 2,900 45,207 48,107 10 Net income 2021 This is stated after charging: £ Depreciation of tangible fixed assets: 50,428 During the year, no trustees received any remuneration (2020: £Nil). During the year, no trustees received any benefits in kind (2020: £Nil). During the year, no trustees received any reimbursement of expenses (2020: £Nil). 11 Staff costs 2021 £ Wages and salaries 104,933 Social security costs 4,837 Other pension costs 1,779 111,549 Average number of persons employed by the company 5 No employee received remuneration amounting to more than £60,000 in either year. |
Total 2020 £ 1,406 910 1,556 13,968 727 4,250 22,817 2020 £ 48,505 2020 £ 159,566 10,750 2,905 173,221 8 |
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12 Tangible fixed assets
| Cost At 1 July 2020 Additions At 30 June 2021 Depreciation At 1 July 2020 Charge for the year At 30 June 2021 Net book value At 30 June 2021 At 30 June 2020 |
Short term leasehold property £ 651,791 45,100 696,891 154,825 45,845 200,670 496,221 496,966 |
Construction Work in Progress - 47,703 47,703 - - - 47,703 - |
Plant and machinery £ 23,607 2,235 25,842 16,243 1,887 18,130 7,712 7,364 |
Sports equipment £ 28,792 - 28,792 18,010 2,696 20,706 8,086 10,782 |
Total £ 704,190 95,038 799,228 189,078 50,428 239,506 559,722 515,112 |
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Notes to the Accounts for the year ended 30 June 2021
| 13 Stocks Stocks 14 Debtors Trade debtors Other debtors Prepayments and accrued income Amounts due after more than one year included above Prepayments and accrued income 15 Creditors: amounts falling due within one year Trade creditors Other taxes and social security costs Other creditors Accruals and deferred income 16 Deferred income Brought forward Movement in the year Carried forward |
2021 £ 1,131 2021 £ 8,221 - 27,760 35,981 3,309 2021 £ 46,092 3,844 - 17,725 67,661 2021 £ 4,805 7,317 12,122 |
2020 £ 1,328 2020 £ 8,687 5,618 41,207 55,512 4,779 2020 £ 74,436 10,552 13 12,807 97,808 2020 £ 9,805 (5,000) 4,805 |
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Deferred income comprises income received in advance from pitch and venue hires and advertising.
| 17 Creditors: amounts falling due after one year Bank loans |
2021 £ 192,416 192,416 |
2020 £ 192,758 192,758 |
|---|---|---|
The bank loan was granted under the coronavirus business interruption loan facility scheme. The loan is guaranteed by the Department for Business, Energy and Industrial Strategy. No capital or interest was payable in the first 12 months of the loan. The net present value of the business interruption payment was recognised in the profit and loss account in the year ended 30 June 2020 (see note 4).
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) Notes to the Accounts for the year ended 30 June 2021
18 Statements of funds
| Balance at 30 June 2020 £ Unrestricted funds General funds 500,442 500,442 Analysis of net assets between funds Tangible fixed assets Current assets Creditors due within one year Creditors due after more than one year |
Income £ 936,334 936,334 |
Expenditure £ (438,895) (438,895) |
Balance at 30 June 2021 £ 997,881 997,881 Unrestricted funds 2021 £ 559,722 698,236 (67,661) (192,416) 997,881 |
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19 Analysis of net assets between funds
20 Related party transactions
During the year Maccabi London Brady Recreational Trust ('the Trust'):
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received total donations from the trustees of £39,825 (2020: £29,100);
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paid £1,152 (2020: £1,144) on behalf of London Maccabi Recreational Trust ('the LMRT'); the LMRT
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has certain trustees in common with the Trust; and
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used the LMRT's land and buildings for peppercorn rent.
The balance of £42,654 (2020: £41,502) due from the LMRT has been fully provided for.
21 Controlling party
The company is limited by guarantee and is under the control of its directors as a body.
22 Other information
The company is a registered charity and is not liable to corporation tax on income or gains derived from its charitable activities.
Maccabi London Brady Recreational Trust is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
Its registered office is: Rowley Lane Sports Gro Rowley Lane Arkley Herts EN5 3HW
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