Company Registration number 03057516 Charity Registration number 1151837
SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
Stephenson Coates Audit Limited
Chartered Accountants
West 2, Asama Court, Newcastle Business Park Newcastle upon Tyne, NE4 7YD
SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
| Contents | |
|---|---|
| Page | |
| Reference and administrative details | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 - 7 |
| Notes to the financial statements | 8 - 13 |
SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Reference and administrative details Year ended 31 May 2022
Trustees and directors
Susan Bell Andrea Cox Nichola Hardy Jaime Hinde Appointed 1 September 2022 Allison Usher Dudley Waters Susan Blakemore Resigned 16 March 2022
Registered office and operational address
Rectory Row Sedgefield County Durham TS21 2BJ
Independent examiner
John Oswald FCA Stephenson Coates Audit Limited Chartered Accountants West 2, Asama Court Newcastle Business park Newcastle upon Tyne, NE4 7YD
Company number 03057516 Charity number 1151837
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SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Trustees' Report
Year ended 31 May 2022
The trustees of the charitable company (the ‘Charity’), a company limited by guarantee, present their annual report together with the financial statements for the year to 31 May 2022. The financial statements are also prepared to meet the requirements for a directors' report and accounts for the Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial reporting Standards in the UK and Republic of Ireland (FRS102).
Objectives and activities
The principal objectives of the Charity are to:
Provide facilities for the daily care, recreation and education of children during out of school hours and school holidays;
To advance the education and training of persons in the provision of such care, education and recreational activities.
Review of Activities and Financial Performance
The main achievements of the Charity during the year are contained within the Chair's statement.
Reserves Policy
All reserves are kept solely for the benefit of the Charity. The general policy is to maintain three months wages costs in reserve in the event of either redundancy or if the Charity were to close for any reason.
Other Unrestricted Reserves
The capital reserve is adjusted annually to reflect the net book value of fixed assets, which cannot be easily realised, in the event of a cash shortfall.
Restricted Reserves
Where the Charity receives contributions that are restricted to particular types of expenditure any unused amounts are held in a restricted reserve.
Organisational Structure
The Charity is controlled by its governing document, a constitution. The constitution was adopted on 29 June 1994 (as amended 3 July 2003). The Charity was registered on 4 October 1994 and incorporated on 17 May 2005.
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SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Trustees' Report (continued)
Year ended 31 May 2022
Organisational Structure (continued)
The Directors of the company are also charity trustees and the management of the organisation is their responsibility. They are appointed under the terms of the governing documents. However, they must not be disqualified from acting as a director or a trustee and in addition obtain the necessary clearance from Ofsted.
Risk Management
The trustees have assessed the major risks within a tailored risk register to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied those systems and procedures are in place to mitigate our exposure to the major risks.
Statement of the directors' responsibilities in relation to the financial statements
The directors are responsible for preparing the directors' 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 directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period.
In preparing these financial statements, the directors 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 2019 (FRS102);
-
make judgements and estimates that are reasonable and prudent;
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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 directors are responsible for keeping accounting records which 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 has been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the directors on 29 March 2023 and signed on their behalf by:
Alison Usher Chair
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REPORT OF THE INDEPENDENT EXAMINER TO THE DIRECTORS OF SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 May 2022, which are set out on pages 5 to 13.
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.
Independent examiner’s report
I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales.
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:
1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2) the accounts do not accord with those accounting records; or
3) 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
4) 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)].
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.
John Oswald FCA Date: 29 March 2023
Stephenson Coates Audit Limited Chartered Accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD
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SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Statement of financial activities
(Incorporating Income and Expenditure Account) Year ended 31 May 2022
| Note Income from Charitable Activities 2 Other income 3 Total Income Expenditure on Raising funds 4 Charitable activities 5 Total expenditure Net incoming resources Total funds brought forward Total funds carried forward |
Unrestricted funds Designated funds Total funds Total funds 2022 2022 2022 2021 £ £ £ £ 107,440 - 107,440 67,853 - - - 5,005 107,440 - 107,440 72,858 - - - - 110,627 4,159 114,786 96,283 110,627 4,159 114,786 96,283 (3,187) (4,159) (7,346) (23,425) 6,390 156,184 162,574 185,999 3,203 152,025 155,228 162,574 |
|---|---|
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SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Balance Sheet
Year ended 31 May 2022
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets/(liabilities) Net assets Funds Designated funds 12 Unrestricted funds 12 Total funds |
£ £ £ £ 163,427 168,853 - 1,897 7,583 8,856 7,583 10,753 15,782 17,032 (8,199) (6,279) 155,228 162,574 152,025 156,184 3,203 6,390 155,228 162,574 2022 2021 |
|---|---|
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SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Balance Sheet (continued) Year ended 31 May 2022
In approving these financial statements (which include the notes on pages 11 to 15) as directors of the charitable company, we hereby confirm:
(a) that for the period stated above the charitable company was entitled to the exemption conferred by Section 477 of the Companies Act 2006;
(b) that no notice has been deposited at the registered office of the charitable company pursuant to Section 476 requesting that an audit be conducted for the year and
(c) that we acknowledge our responsibilities for:
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ensuring that the charitable company keeps accounting records which comply with Section 386, and
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preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial period and of its profit or loss for the period then ended in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small entities regime of Financial Reporting Standard 102.
These financial statements were approved by the directors on 29 March 2023 and are signed on their behalf by:
Alison Usher Director
Company registration number 03057516
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SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Notes to the financial statements Year ended 31 May 2022
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been consistently
1.1 Basis of preparation of financial statements
The Financial Statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102); and the Companies Act 2006 and the Charities Act 2011.
1.2 Fund accounting
General Funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designed for other purposes.
Designated funds are general funds which have been set aside by the trustees for a specific purpose.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.
The costs of raising 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.
1.3 Incoming resources
All incoming resources are included in the statement of financial activities when the charily has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.
Gifts in kind are included in the statement of financial activities at a reasonable estimate of their value at the time they are utilised by the charity, with the equivalent amount recognised as charitable expenditure. No amounts are included in the financial statements for services donated by volunteers.
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SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Notes to the financial statements (continued)
Year ended 31 May 2022
1.3 Income resources (continued)
Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of donation.
1.4 Resources expended
Support costs are those costs incurred directly in the support of expenditure on the objects of the charity. They include governance costs. Which are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.
All resources expended are inclusive of irrecoverable VAT.
1.5 Fixed assets
Fixed Assets are stated at cost less accumulated depreciation.
Land and buildings 2% on cost Plant and machinery 10% reducing balance
1.6 Going concern basis
The directors of the charitable company are satisfied that there are no material uncertainties about the charity’s ability to continue as a going concern.
2 Donations
| Charitable Activities Grants receivable |
Unrestricted funds Designated funds Total funds Total funds 2022 2022 2022 2021 £ £ £ £ 107,440 - 107,440 67,853 - - - - 107,440 - 107,440 67,853 |
|---|---|
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SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Notes to the financial statements (continued) Year ended 31 May 2022
| 3 | Other income | ||||
|---|---|---|---|---|---|
| Unrestricted | Designated | ||||
| funds | funds | Total funds | Total funds | ||
| 2022 | 2022 | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Other grants | - | - | - | 5,000 | |
| Bank Interest Received | - | - | - | 5 | |
| - | - | - | 5,005 | ||
| 4 | Expenditure on fundraising Fundrasing activities |
Unrestricted funds 2022 £ - |
Designated funds 2022 £ - |
Total funds 2022 £ - |
Total funds 2021 £ - |
| 5 | Analysis of resources expended by activities Direct costs 2022 £ Charitable activities 103,871 |
Support costs 2022 £ 10,915 |
Total funds 2022 £ 114,786 |
Total funds 2021 £ 96,283 |
|
| 6 | Support costs |
| Rent Insurance Light & heat Telephone Post & Stationery Repairs and renewals Cleaning Subscriptions Sundry expenses Accountancy Depreciation |
2022 £ 500 1,060 256 594 170 1,025 14 305 565 1,000 5,426 10,915 |
2021 £ 500 972 168 515 452 1,080 250 219 205 400 3,167 7,928 |
|---|---|---|
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SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Notes to the financial statements (continued)
Year ended 31 May 2022
7 Net income
This is stated after charging
| 2022 Depreciation 5,426 8 Staff costs 2022 £ Wages and salaries 96,982 Employers pension contributions 2,954 99,936 The average number of employees during the year was 2022 Administration 12 |
2021 3,167 2021 £ 83,895 2,423 86,318 2021 6 |
|---|---|
No employee received remuneration in excess of £60,000.
No trustees received any remuneration or re-imbursement of expenses.
9 Tangiable fixed assets
| Cost At 1 June 2021 Additions At 31 May 2022 Depreciation At 1 June 2021 Charge for year At 31 May 2022 Net book value At 31 May 2022 At 31 May 2021 |
Land and buildings Plant and machinery Total 207,944 34,785 242,729 - - - 207,944 34,785 242,729 51,760 22,116 73,876 4,159 1,267 5,426 55,919 23,383 79,302 152,025 11,402 163,427 156,184 12,669 168,853 |
|---|---|
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SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Notes to the financial statements (continued) Year ended 31 May 2022
| 10 Debtors Other debtors Prepayments 11 Creditors: Amounts due within one year Bank loans and overdrafts Other taxes and social security Accruals |
2022 £ - - - 2022 £ 14,431 - 1,351 15,782 |
2021 £ 1,897 - 1,897 2021 £ 15,000 1,132 900 17,032 |
|---|---|---|
12 Statement of funds
Year ended 31 May 2022
| Designated funds Capital fund Unrestricted funds General funds Total funds |
1 June 2021 Income Expended 31 May 2022 £ £ £ £ 156,184 - 4,159 152,025 156,184 - 4,159 152,025 6,390 107,440 110,627 3,203 6,390 107,440 110,627 3,203 162,574 107,440 114,786 155,228 |
|---|---|
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SEDGEFIELD OUT OF SCHOOL FUN CLUB LIMITED
(a company limited by guarantee without share capital)
Notes to the financial statements (continued) Year ended 31 May 2022
12 Statement of funds (continued)
Year ended 31 May 2021
| Designated funds Capital fund Unrestricted funds General funds Total funds |
1 June 2020 Income Expended 31 May 2021 £ £ £ £ 156,184 - - 156,184 156,184 - - 156,184 29,815 72,858 96,283 6,390 29,815 72,858 96,283 6,390 185,999 72,858 96,283 162,574 |
|---|---|
The Capital Fund represents the net book value of the assets held and is not therefore readily realisable.
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