WAFC Ltd
Annual report and accounts for the year ended 31 March 2021
Registered Number 08426365
WAFC Ltd
Annual report and accounts
for the year ended 31 March 2021
Contents
Directors for the year ended 31 March 2021 ........................................................................................................ 1 Directors’ report for the year ended 31 March 2021 ............................................................................................. 2 Surplus and deficit account for the year ended 31 March 2021 ............................................................................ 4 Balance sheet as at 31 March 2021 ....................................................................................................................... 5 Balance sheet as at 31 March 2021 (continued) ................................................................................................... 6 Accounting policies .............................................................................................................................................. 7 Notes to the financial statements for the year ended 31 March 2021 ................................................................... 8
WAFC Ltd
Directors for the year ended 31 March 2021
Directors
M Gibbon R Cutler
Registered Office Northern Area Playing Fields Pavillion, Stephenson Road, Washington, Tyne & Wear, England, NE37 3HR
Registered Number 08426365
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WAFC Ltd
Directors’ report for the year ended 31 March 2021
The directors present their report and the financial statements of the company for the year ended 31 March 2021.
Principal activities
The principal activity of the company is the provision of community “grassroots” football. The company is a not for profit organisation, limited by guarantee with any surplus being reinvested in the provision of football.
Review of business and future developments
The start of the year to 31 March 2021 saw the first UK Covid-19 national lockdown. All grassroots football was stopped by the UK government in early March 2021 and did not resume until July 2020. The 19/20 football season was ended early and all results were expunged. Further national lockdowns in November 2020 and January to March 2021 disrupted football again causing the club to suffer an 8% reduction in member subscriptions. Thankfully, the club was able to apply for various grants from the Football Foundation, Sport England and Sunderland City Council, all which helped to close the financial gap. Sponsorship was also increased as local firms rallied round to support the club through the pandemic crisis. Unfortunately, the pandemic caused the annual music festival, Washington Live, to be cancelled in 2020 and postponed from June to August 2021 (confirmation of an events licence pending), further damaging the club’s finances.
The club’s membership has dropped slightly to 470 players due to the pandemic across 45 different teams. Most age groups have multiple teams to cater for varying degrees of ability which supports our “football for all” philosophy; we pride ourselves on having a team suitable for any player to join regardless of ability, gender, race or religion. We expect player numbers to recover in the 21/22 season following the resumption of grassroots football on 29 March 2021 under the UK government’s pandemic roadmap.
The majority of the club’s income (£116,138 out of £157,426) still derived from player subscriptions with finances being boosted £19,800 due successful applications for various Covid-19 grants. The remainder of the club’s income was sponsorship and fundraising. During the pandemic year, some of the club’s costs reduced significantly, notably external coaching costs (-£13,446), referee fees (£-£8,238) and Winter training costs (- £7,086). The combination of increased total income and these cost reductions enabled the club to reduce the kit supplier creditor by £30,350. As at the year ending 31 March 2021, the club owed its kit supplier £31,909 which the supplier has agreed to be paid back on extended payment terms in order to support the continued growth and development of the club.
On two separate occasions during the pandemic lockdowns, serious vandalism occurred involving 4x4 vehicles being driven on the club’s grass football pitches. This caused significant damage and police involvement. The club and local community responded with a significant fundraising effort. Planning permission for an 800m fence around the club’s main pitches was granted in March 2021 and an application for a £25,000 fencing grant from the Football Foundation was pending as at the year end. It is hoped that the new fence will be built by the end of July 2021 to protect the pitches from further damage going into the 21/22 season.
The club’s sister club, Washington FC, which plays semi-professionally in the Northern League, has continued to develop a project to build a stadium at Washington AFC’s home ground and gained planning permission in October 2020 to go ahead with the build from Sunderland City Council. As leaseholder at the Northern Area facility in Washington, this project will involve Washington AFC being the landlord of the stadium and leasing it to Washington FC for priority use for home matches. Washington FC has been playing its games outside
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WAFC Ltd
Washington for the last few seasons so this project, once complete, will see Northern League football return to Washington once again.
Washington AFC’s Committee and Trustees of the associated charity (WAFC Ltd; charity number 1152109) is made up of four officers: Chairman (Mark Gibbon), Treasurer (Rob Cutler), Secretary (Lee Holmes) and Head of Football (Gary Sykes) all of whom served on the Committee throughout the year ending 31 March 2021. The Committee has been in place and stable for the last six years and it is expected that all officers will continue in post for the foreseeable future.
Results
The company’s surplus for the financial year is £45,451 (2020 deficit: £35,781).
Directors and their interests
The directors who held office during the year are given below:
M Gibbon R Cutler
The company is entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
This report was approved by the board of directors on 06 April 2021 and signed on behalf of the Board by:
Director
06 April 2021
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WAFC Ltd
Surplus and deficit account for the year ended 31 March 2021
| Note | |||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Turnover | 1 | 157,426 | 132,430 |
| Cost of sales | 85,979 | 132,417 | |
| Gross surplus | 71,447 | 13 | |
| Distribution costs | 0 | 0 | |
| Administrative expenses | 25,996 | 35,794 | |
| Operating surplus/(deficit) | 2 | 45,451 | (35,781) |
| Interest payable and similar charges | 0 | 0 | |
| Surplus/(deficit) on ordinary activities before taxation | 45,451 | (35,781) | |
| Tax on surplus/(deficit) on ordinary activities | 3 | 0 | 0 |
| Surplus/(deficit) on ordinary activities after taxation | 45,451 | (35,781) | |
| Retained surplus/(deficit) for the financial year | 45,451 | (35,781) | |
| Accumulated deficit brought forward | (57,957) | (22,176) | |
| Accumulated deficit carried forward | (12,506) | (57,957) |
All amounts relate to continuing activities.
The company has no gains and losses other than the surpluses/deficits above and therefore no separate statement of total recognised gains and losses has been presented.
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WAFC Ltd
Balance sheet as at 31 March 2021
| Note | 2021 | 2021 | 2020 | 2020 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Tangible fixed assets | 4 | 0 | 0 | ||
| Current assets | |||||
| Stock | 0 | 0 | |||
| Debtors | 5 | 2 | 2 | ||
| Cash at bank and in hand | 19,403 | 4,302 | |||
| 19,405 | 4,304 | ||||
| Creditors: amounts falling due | |||||
| within one year | 6 | (31,909) | (62,259) | ||
| Net current assets | (12,504) | (57,955) | |||
| Creditors: amounts falling due after | |||||
| one year | 0 | 0 | |||
| Net assets | (12,504) | (57,955) | |||
| Capital and reserves | |||||
| Reserves | 7 | 2 | 2 | ||
| Surplus and deficit account | (12,506) | (57,957) | |||
| Total capital and reserves | (12,504) | (57,955) |
The financial statements on pages 3 to 10 were approved by the board of directors on 06 April 2021 and were signed on its behalf by:
R Cutler
Director
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WAFC Ltd
Balance sheet as at 31 March 2021 (continued)
Directors’ statements for the year ended 31 March 2021
In approving these financial statements as directors of the company we hereby confirm:
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(a) that for the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies;
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(b) that the members have not required the company to obtain an audit of its accounts for the year ending 31 March 2021 in accordance with section 476;
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(c) that we acknowledge our responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts; and
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(d) that these accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved by the Board on 06 April 2021 and signed on its behalf by
R Cutler
Director
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WAFC Ltd
Accounting policies
Accounting convention
These financial statements are prepared on the going concern basis, under the historical cost convention and in accordance with the Companies Act 2006 and applicable accounting standards. The principal accounting policies, which have been applied consistently throughout the year, are set out below.
Turnover
Turnover represents the total member subscription or invoice value (mainly for sponsors) of income generated during the year.
Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Fixtures and fittings - Over a period of 3 years on a straight line basis Motor Vehicles - Over a period of 5 years on a straight line basis Computer equipment - Over a period of 3 years on a straight line basis
Stock
Stock is stated at the lower of cost and net realisable value.
Cash flow statement
The company has taken advantage of the exemption under Financial Reporting Standard 1 (revised 1996) from the requirement to present a cash flow statement on the grounds that it is a small company.
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WAFC Ltd
Notes to the financial statements for the year ended 31 March 2021
1 Turnover
The total turnover of the company for the year has been derived from its principal activity as noted in the Directors’ report.
2 Operating deficit
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Operating surplus/(deficit) is stated after charging / (crediting): | ||
| Depreciation of tangible fixed assets | 0 | 0 |
| Surplus/(loss) on disposal of fixed assets | 0 | 0 |
| Bad debts | 0 | 0 |
3 Taxation
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Analysis of tax in the year: | ||
| Tax in respect of the period | 0 | 0 |
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WAFC Ltd
4 Tangible fixed assets
| Computer equipment |
Fixtures and fittings |
Total | ||||
|---|---|---|---|---|---|---|
| £ | £ | £ | ||||
| Cost | ||||||
| At 1 April 2020 | 0 | 0 | 0 | |||
| Additions | 0 | 0 | 0 | |||
| Disposals | 0 | 0 | 0 | |||
| At 31 March 2020 | 0 | 0 | 0 | |||
| Deprecation | ||||||
| At 1 April 2020 | 0 | 0 | 0 | |||
| Additions | 0 | 0 | 0 | |||
| Disposals | 0 | 0 | 0 | |||
| At 31 March 2021 | 0 | 0 | 0 | |||
| Net book values | ||||||
| At 31 March 2021 | 0 | 0 | 0 | |||
| At 31 March 2020 | 0 | 0 | 0 | |||
| 5 Debtors |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 0 | 0 |
| Prepayments | 0 | 0 |
| Amounts owed by other group companies | 0 | 0 |
| Called up share capital not paid | 2 | 2 |
| Other debtors | 0 | 0 |
| 2 | 2 |
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WAFC Ltd
6 Creditors: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 31,909 | 62,259 |
| Other taxes and social security costs | 0 | 0 |
| Accruals and deferred income | 0 | 0 |
| Other creditors | 0 | 0 |
| 31,909 | 62,259 |
7 Reserves
The company is limited by guarantee of members and does not have a share capital. The liability of members is limited to £1.
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Reserves | ||||
| Members’ guarantees | 2 | 2 |
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