2024-05-31-accounts - Welwyn Pegasus Football Club

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Trustees’ Annual Report for the period

From 1[ST] JUNE 2023 To 31[ST] MAY 2024 Charity name: WELWYN PEGASUS FOOTBALL CLUB

Charity registration number: 1150095

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	To promote community participation in healthy recreation by providing facilities for playing football ("facilities" meaning land, buildings, equipment and organising football activities); and To advance the education of children and young people whether or not undergoing formal education.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	Activities undertaken during the year for the public benefit include: The promotion of participation amongst young people in amateur football to encourage healthy physical development and to promote the benefits of physical education and development; The provision and work to extend the provision of facilities for playing football to enable healthy physical activity; Actively assisting local schools with their provision of football facilities; Making facilities and membership available on a first-come, first-served basis irrespective of playing ability; and Ensuring that those with low incomes are not detrimentally affected by the level of fees set by the Club and assisting financially, on a case-by-case basis, to encourage participation from young people from families with low income.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	When planning activities during the year the Trustees have considered their statutory duty to act in accordance with the guidance on public benefit issued by the Charity commission.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Contribution made by volunteers	Para 1.38	As in previous years, we are extremely grateful for the work that our many volunteers undertake for the Football Club as coaches, assistant coaches, administrators, trustees, Football Management Committee members and helpers at fundraising events. The work our volunteers undertake is significant and enables the Club to meet our Charitable Objectives effectively.

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	We have maintained the levels of participation due to the excellent efforts of our volunteers and committee members. We continue with our outreach to local schools and other sections of the community. During the 23/24 season we fielded 78 teams with 870 registered players.

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	The club remains in a healthy financial position and is fully able to meet its liabilities and commitments.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	Reserves are held exclusively for the furtherance of the Charitable Objectives. None of the Charity’s reserves may be paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit to any member of the Charity.
Amount of reserves held	Para 1.22	£99211
Reasons for holding zero reserves	Para 1.22	N/A
Details of fund materially in deficit	Para 1.24	Nothing to report
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	Nothing to report

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	The charity’s principal sources of funds (including any fundraising)	Para 1.47	Our principle source of funds is from fees charged to players for membership of the Football Club. This is supplemented by fund-raising events before, during and after the football season and by engaging with local businesses with a view to team or club sponsorship and / or donations to the Club.

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document	Para 1.25	Constitution
How is the charity constituted?	Para 1.25	Unincorporated association
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Appointed by the Trustees, subject to annual retirement and re-election by the members of the Charity.

Reference and Administrative details

Charityname	Welwyn PegasusFootballClub
Other name the charity uses
Registered charity number	1150095
Charity’s principal address	34 Nursery Gardens Welwyn Garden City Hertfordshire AL7 1SF

Names of the charity trustees who manage the charity

1 2 3 4 5	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
	Alan Gibbs	Chairman
	Vincent Keeley	Vice-chairman
	Keith Jones	Treasurer

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date	SIGNED ELECTRONICALLY	SIGNED ELECTRONICALLY
	Alan Gibbs	Keith Jones
	Chair	Treasurer
	20/03/2025
	20/03/2025

Welwyn Pegasus Football Club

Financial Statements & Trustees' Report

Year Ended 31st May 2024

Developing Players for the Future

Home Ground Monks Walk School, Knightsfield, Welwyn Garden City, AL8 7NL www.welwynpegasusfc.co.uk

Welwyn Pegasus Football Club is a registered charity: Registration number 1150095

INDEX TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MAY 2023

CONTENTS	PAGE(S)
Statement of Financial Activities	1
Balance Sheet	2
Notes to the Financial Statements	3-7

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31st MAY 2024

NOTES INCOMING RESOURCES Football & related Income 2 Fundraising & Other Income 3 TOTAL INCOMING RESOURCES RESOURCES EXPENDED Cost of Activities 4,5 Administration, Management & Others 6 TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES FOR THE YEAR FUNDS BROUGHT FORWARD FUNDS CARRIED FORWARD		RESTRICTED £ 0 0 0 0 0 0 0 0 0	UNRESTRICTED £ 152,251 3,202 155,453 116,562 9,792 126,354 29,099 70,112 99,211		Total 2024 £ 152,251 3,202 155,453 116,562 9,792 126,354 29,099 70,112 99,211	Total 2023
						£ 131,228 4,525
						135,753
						128,232 11,925
						140,157
						(4,404) 74,516
						70,112

Page 1

BALANCE SHEET AS AT 31st MAY 2024

NOTES
TANGIBLE FIXED ASSETS
7
Sports equipment
Computer & office equipment
Other equipment
INTANGIBLE FIXED ASSETS
Lease premium
8
TOTAL FIXED ASSETS
CURRENT ASSETS
Stock
Debtors & Prepayments
9
Cash & Bank Balances
10
CREDITORS AND ACCRUALS
Amounts falling due within one year
11
NET CURRENT ASSETS (LIABILITIES)
CREDITORS
Amounts falling due after one year
NET ASSETS
FUNDS
Unrestricted Funds
12
Restricted Funds
13
TOTAL FUNDS

2024
2023
£
£
1,722
0
0
0
278
417
2,000
417
0
4,726
2,000
5,143
2,234
2,234
21,195
17,035
104,237
85,953
127,666
105,222
30,455
40,253
97,211
64,969
0
0
99,211
70,112
99,211
70,112
0
0
99,211
70,112

Approved by the Management Committee and signed on its behalf:

Chairperson…..Signed by Alan Gibbs Date…10/03/2025

Treasurer…..Signed by Keith Jones Date…10/03/2025

The accompanying notes form an integral part of the accounts

Page 2

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MAY 2024

1 ACCOUNTING POLICIES

a) Basis of Preparation and Assessment of Going Concern

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

The club constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the club’s ability to continue as a going concern.

b) Income and Expenditure

Income and Expenditure is recorded on the accruals basis.

c) Depreciation

Depreciation is calculated on the straight line basis at rates which are intended to write off the cost of the assets over their estimated useful lives, and is itemised as follows:

Sports equipment	20%
Ofice equipment	33%
Other equipment	20%

d) Leases

Rental costs under operating leases are charged to the income and expenditure account in equal annual instalments covering the period of the leases.

e) Fund Accounting

Grants and similar income which are subjected to restrictions by the donors are shown as restricted funds and any expenditure incurred will be set off against this fund. All other income and expenditure is shown as unrestricted.

f) Resources Expended

The cost of activities comprises expenditure that directly relates to the furtherance of the club's charitable activities. All other expenses are shown under administration and management which involve the cost of managing and administering the club.

Page 3

2 FOOTBALL & RELATED INCOME

Income comprises the following:

3
4
5

2024
2023
£
£
Players fees
137,760
117,444
Sponsorship income
7,060
1,168
Merchandise sales
0
0
WPFC Tournament income
5,122
9,286
Presentation Day income
2,309
3,330
152,251
131,228
FUNDRAISING & OTHER INCOME
Income comprises the following:
£
£
Grants and donations
1,395
3,900
Fundraising
0
0
Heart screening fundraising
0
0
Other event income
1,000
475
Gift-aid tax relief
0
0
Interest income
807
150
3,202
4,525
COST OF ACTIVITIES
Expenditure comprises the following:
£
£
Merchandise COS
0
0
WPFC Tournament expenses
3,564
5,103
Presentation Day expenses
18,551
8,380
Development centre expenses
0
0
Other event expense
0
520
Marketing / printed materials
267
0
Website / digital marketing
339
391
League affiliations
6,277
6,440
Transfer fees
41
25
Football kit
37,043
27,299
Football equipment
9,345
12,918
Sports equipment depreciation
430
0
Referees fees
15,514
14,757
Fines
1,116
1,035
External tournament entry fees
1,044
600
Grounds hire
17,932
42,660
Grounds maintenance
335
2,009
Equipment storage costs
2,566
2,537
Meeting expenses
0
110
Coach development
1,740
2,888
DBS/CRB checks
458
560
Heart screening expenses
0
0
116,562
128,232
GROUNDS HIRE
Expenditure on grounds hire is stated after taking into account the following:
2024
2023
£
£
Accrual for rent second half of season
0
0

Page 4

6 ADMINISTRATION, MANAGEMENT & OTHERS

Expenditure comprises the following:

Depreciation & amortisation Insurance Office & computer supplies Interest Merchant processing fees Telephone and internet Travel expenses Miscellaneous expenses	2024 2023 £ £ 4,865 5,139 1,658 1,284 355 509 0 0 735 3,412 1,277 817 892 734 10 30 9,792 11,925

7 TANGIBLE FIXED ASSETS

ED ASSETS
Cost At 1 June 2023 Additions Disposals Revaluations Transfers At 31 May 2024 Depreciation At 1 June 2023 Charge for year On disposals Other adjustments At 31 May 2024 Net Book Value: At 31 May 2024 At 31 May 2023	Sports Equipment £ 8,723 2,152 0 0 0 10,875 8,723 430 0 0 9,153 1,722 0	Office Equipment £ 2,379 0 0 0 0 2,379 2,379 0 0 0 2,379 0 0	Other Equipment £ 3,130 0 0 0 0 3,130 2,713 139 0 0 2,852 278 417	Totals £ 14,232 2,152 0 0 0
				16,384 13,815 569 0 0
				14,384
				2,000

				417

Page 5

8 INTANGIBLE FIXED ASSETS

9 10 11 12	Lease Premium £ Cost At 1 June 2023 50,000 Additions 0 Disposals 0 Revaluations 0 Transfers 0 At 31 May 2024 50,000 Amortisation At 1 June 2023 45,274 Charge for year 4,726 On disposals 0 Other adjustments 0 At 31 May 2024 50,000 Net Book Value: At 31 May 2024 0 At 31 May 2023 4,726 DEBTORS AND PREPAYMENTS Prepayments comprise the following: Prepayment for kit BANK BALANCES Cash and bank balances at 31 May 2024 were as follows: Cash in hand Current account Business Saver account Business Saver account (Heart screening) CREDITORS Balances at 31st May 2024 were as follows: Trade creditors due within one year Expenses due Accruals Deferred income UNRESTRICTED FUND Opening balance Surplus (deficit) for the year Closing balance	2024 2023 £ £ 21,195 17,035 21,195 17,035 £ £ 2,254 5,858 19,402 13,321 82,317 66,513 264 261 104,237 85,953 £ £ 3,271 26,810 0 0 16,498 0 10,686 13,443 30,455 40,253 £ £ 70,112 74,516 29,099 (4,404) 99,211 70,112

Page 6

13 RESTRICTED FUND

14	Opening balance Surplus (deficit) for the year Closing balance ANALYSIS OF NET FUNDS Fixed Assets Net Current Assets	Restricted £ 0 0 0	2024 2023 £ £ 0 0 0 0 0 0 Unrestricted Total £ £ 2,000 2,000 97,211 97,211 99,211 99,211

Page 7

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ members of

Charity Name WELWYN PEGASUS FOOTBALL CLUB

On accounts for the year 31[ST] MAY 2024 Charity no 1150095 ended (if any) Set out on pages 1-7

(remember to include the page numbers of additional sheets)

Respective The charity's trustees are responsible for the preparation of the accounts. responsibilities of The charity’s trustees consider that an audit is not required for this year trustees and examiner under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
• to state whether particular matters have come to my attention

Basis of independent My examination was carried out in accordance with general Directions given examiner’s statement 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 the 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.

IER

December 2017

Independent examiner's statement

In connection with my examination, no material matters have come to my attention (other than that disclosed below *) which gives me cause to believe that in, any material respect:
the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

I 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.

Please delete the words in the brackets if they do not apply. Date: March 19[th] , 2025 Signed: ~~—~~

Name: IAN GORTON

Relevant professional FELLOW OF THE CHARTERED INSTITUTE OF MANAGEMENT qualification(s) or body ACCOUNTANTS (if any): ~~ee~~ Address: 2 CRESSMANS WALK WHITWELL SG4 8AW ~~a~~

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of NONE any items that the examiner wishes to disclose .

IER

December 2017

IER December 2017