REGISTERED COMPANY NUMBER: 08445583 (England and Wales) REGISTERED CHARITY NUMBER: 1152579
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020
FOR
STEVENAGE SPORTING FUTURES TEAM LIMITED
Wags LLP t/a Wagstaffs Richmond House Walkern Road Stevenage Hertfordshire SG1 3QP
STEVENAGE SPORTING FUTURES TEAM LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020
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| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report ofthe Trustees | 2 | to | 6 |
| Independent Examiner's Report | 7 | ||
| Statement of Financial Activities | 8 | ||
| Statement of Financial Position | 9 | to | 10 |
| Notes to the Financial Statements | 11 | to | 15 |
| DetailedStatementofFinancialActivities | 16 |
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STEVENAGE SPORTING FUTURES IEAM LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST AUGUST 2020
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| TRUSTEES | S Mackey Director | |
|---|---|---|
| R J Westergreen-thorne Director | ||
| G Eaton Trustee | ||
| REGISTERED OFFICE | Barnwell School | |
| Barnwell | ||
| Stevenage | ||
| Hertfordshire | ||
| SG2 9SW | ||
| REGISTERED COMPANY NUMBER | 08445583 (England and Wales) | |
| . | ||
| REGISTERED CHARITY NUMBER | 1152579 | |
| INDEPENDENT EXAMINER | Wags LLP t/a Wagstaffs | |
| Richmond House | ||
| Walkern Road | ||
| Stevenage | ||
| Hertfordshire | ||
| SG13QP |
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STEVENAGE SPORTING FUTURES TEAM LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020
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The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2020. The trustees have adopted the provisions of 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 2019).
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STEVENAGE SPORTING FUTURES TEAM LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020
OBJECTIVES AND ACTIVITIES Objectives and aims As Stevenage Sporting Futures Team our intention is:
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1) Creating Opportunities, Raising Aspiration & Positively influencing the health and wellbeing of young people through Sport and Physical Activity.
2) Continue to support schools to deliver High Quality PE and school sport through a coordinated local delivery system, ensuring through collaborative partnering, local needs are met, and the greatest benefit is felt by all young people.
The guiding principles that will shape our work are to: 1) Provide a broad and varied range of opportunities for all young people to take part in physical activity, sport and leadership and volunteering.
2) Support young people to develop healthy and active lifestyles which they can follow through into adult life.
3) Maximise the impact that PE and sport can have in increasing the achievement and attainment of young people.
4) Work with partners to provide Continued Professional Development to empower and up skill the workforce delivering PE and sport to young people. 5) Work with community clubs and partners to maximise opportunities for all young people and support their transition into community sport. 6) Focus on increasing the home-grown coaching workforce through school based - work based Sporting Apprenticeships linked to Sporting Futures Training and utilise them within the competitions and festivals delivered by the Stevenage Sporting Futures Team.
Stevenage Sporting Futures Team has utilised its experienced staff to continue to develop positive opportunities and strategies to tackle the challenges faced with achieving these outcomes.
The 19-20 Academic year has had challenges of an unprecedented scale. With Partnership funding confirmed at the start of the year via the schools buy in package utilising their PE and Sports Premium, the years delivery was secure, however the PE and Sports premium was only confirmed at that stage until August 2020. 6 months into the year the COVID-19 pandemic added a further dimension, halting the delivery as we know it and forcing an alternative provision to be create to still offer the support to schools efforts to impact upon the 5 key indicators of the Premium within the schools. This created further challenge at a time when stability was needed.
At the start of the year, 27 out of 32 local primary schools continued to buy into the Annual subscription to Stevenage Sporting Futures Team allowing for a continued programme of activities. Staffing this year was reduced to that of 18-19, with one less member of staff and no apprentice. This did not affect delivery during the 6-month period available. During lockdown 3 members of staff were placed on furlough with 2 returning in June 2020 and 1 who was placed back on contracted salary in August 2020.
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STEVENAGE SPORTING FUTURES [EAM LIVIITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020
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Funding had been received in 18-19 for delivery of a number of cycle-based events to infant only schools in 19-20. 2 out of 3 events were delivered however the 3rd was cancelled due to COVID-19. We also received funding from the Stevenage Community Trust in 2018-19 to pilot a Martial Art themed initiative aimed at harder to reach pupils within 3 partner schools. The remaining 2 of these were delivered in the Autumn of 2019.
The scheduled Schools Dance Festival was unable to take place in April and has subsequently been moved to February 2022. This has resulted in a loss of income, normally resulting from the ticket sales of the event, which has limited the funding recouped for the next academic year. Sponsorship for Annual Sports Awards was also down on previous years so, in delivering the event virtually, additional costs were incurred where normally they have been offset. Fortunately in savings for the delivery of other events over the summer period, this has not had an overall negative effect on the financial position in year. In the reporting year, the team were successful in gaining external sources of funding which were not linked to schools package contributions. There was funding secured from Stevenage Borough Council, through both their core Sports Development budget and also the locality budget scheme, which sees funding allocated to each local councillor be applied to local projects on an application basis. The core funding continued to support the transport for the children to attend the Mini Olympics event. The locality budget was able to support the purchase of Sports Ambassador badges for the new cohort of Sports Ambassadors, who had been due to be trained in the June Primary Leadership Days. This training was unable to take place so it will become a virtual offer in 20-21, with the leaders then receiving badges.
During the lockdown period in Spring 2020, we were awarded funding for another project aimed at Year 1 pupils. The equipment for this was bought in Summer 2020 however the planned delivery was set to begin, subject to restriction, in 20-21.
Public benefit
The trustees of Stevenage Sporting Futures Team confirm that due regard has been paid to the public benefit guidance published by the Charities Commission and that in setting and reviewing the strategic objectives of SSFT, they are mindful of Its charitable purpose for public benefit.
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STEVENAGE SPORTING FUTURES IEAM LIMIIED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020
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ACHIEVEMENT AND PERFORMANCE Fundraising activities Incoming resources in the year were £98,738 (2019 - £126,101). Of this £nil (2019 - £nil) related to project restricted activities. A deficit of £16,468 (2019 - deficit of £1,283) was made in the year.
Future activities Annual subscription cost for partner schools has been reduced by 1/3 to compensate for loss of summer term full delivery and account for expected ongoing disruption. This has accounted for a significant drop in funding so adjustments are to be made to ensure budgets can still balance, however has secured the continued buy in of 26 of the 27 current partner schools.
The PE and Sports Premium has been extended for 20-21 but there is no guarantee following this and post August 2021. School Games funding only confirmed to March 2021 at present so no further Government funding is currently agreed for April onwards.
With ongoing restrictions, events and activities on a face to face basis will be limited and continued shift in ways of working will be required to ensure there is still shown to be a value of the organisation to the partner schools. This will be difficult and will make for a challenging year to come.
FINANCIAL REVIEW
Reserves policy
Stevenage Sporting Futures Team Limited is working towards ensuring that funds are available in each financial year to meet any reasonable foreseeable contingency. The charity will maintain a projection of income and work towards ensuring that this continues to be derived from as wide a variety of sources as possible. They will take all necessary steps to ensure that at no time would it be possible for the cessation of one or more funding streams to present so serious a challenge to the future of the organisation.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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STEVENAGE SPORTING FUTURES [EAM LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020
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STRUCTURE, GOVERNANCE AND MANAGEMENT
Statement of trustees responsibilities
The trustees, who are also the directors of Stevenage Sporting Futures team for the purpose of company law, are responsible for preparing the Trustees Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
In preparing these accounts, 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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make judgements and estimates that are reasonable and prudent; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue
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in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable it to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on Iean Macdy. 200! and signed on its behalf by:
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ay
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S Mackey - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STEVENAGE SPORTING FUTURES TEAM LIMITED
Independent examiner's report to the trustees of Stevenage Sporting Futures Team Limited (‘the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 31ist August 2020.
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, | 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 | have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
| have completed my examination. | 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 2. the accounts do not accord with those 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
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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 treland (FRS 102)).
| 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.
Mark Hubbocks BA (Hons) FCA CF
Wags LLP t/a Wagstaffs Richmond House Walkern Road Stevenage Hertfordshire $G1 3QP Date: Jo-th March sootmG
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STEVENAGE SPORTING FUTURES TEAM LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOMEAND ENDOWMENTS FROM | |||
| Charitable activities | |||
| General | 98,738 | 126,101 | |
| EXPENDITURE ON | |||
| Raisingfunds | 9,299 | 4,384 | |
| Charitable activities | |||
| General | 105,907 | 123,000 | |
| Total | 115,206 | 127,384 | |
| NETINCOME/(EXPENDITURE) | (16,468) | (1,283) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 127,657 | 128,940 | |
| TOTALFUNDSCARRIEDFORWARD | 111,189 | 127,657 |
The notes form part of these financial statements
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STEVENAGE SPORTING FUTURES TEAM LIMITED (REGISTERED NUMBER: 08445583)
STATEMENT OF FINANCIAL POSITION 31ST AUGUST 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 6 | 23,196 | 7,728 |
| Cash at bank and in hand | 90,573 | 125,419 | |
| 113,769 | 133,147 | ||
| CREDITORS | |||
| Amounts falling due within one year | 7 | (2,580) | (5,490) |
| NET CURRENTASSETS | 111,189 | 127,657 | |
| TOTALASSETS LESS CURRENT LIABILITIES | 111,189 | 127,657 | |
| NETASSETS | 111,189 | 127,657 | |
| FUNDS | 8 | ||
| Unrestricted funds | 111,189 | 127,657 | |
| TOTALFUNDS | 111,189 | 127,657 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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STEVENAGE SPORTING FUTURES TEAM LIMITED (REGISTERED NUMBER: 08445583)
STATEMENT OF FINANCIAL POSITION - continued 31ST AUGUST 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on Je ®MarCh0a.\ and were signed on its behalf by:
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S Mackey - Trustee Kal
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The notes form part of these financial statements
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STEVENAGE SPORTING FUIUREDS IEAIVI LIIVIITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020
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STATUTORY INFORMATION
-
ACCOUNTING POLICIES
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Stevenage Sporting Futures Team Limited is an incorporated charity registered in England and Wales. The charity registration number, together with the principal address, can be found within the reference and administrative details.
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Critical accounting estimates and judgements
No significant judgements or estimates have had to be made by the trustees in preparing these financial statements.
Going concern
The financial statements have been prepared on a going concern basis.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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STEVENAGE SPORIING FUIUKEDS IEAINI LIVED
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 2020
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3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st August 2020 nor for the year ended 31st August 2019.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31st August 2020 nor for the year ended 31st August 2019.
4, STAFF COSTS
The average monthly number of employees during the year was as follows:
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||||||||
|---|---|---|---|---|---|---|
|2020|2019|
|Administrative|and|support|5|6|
|No|employees|received|emoluments|in|excess|of £60,000.|
|5.|COMPARATIVES|FOR THE|STATEMENT|OF|FINANCIAL|ACTIVITIES|
|Unrestricted|
|fund|
|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Charitable|activities|
|General|126,101|
|EXPENDITURE|ON|
|Raising|funds|4,384|
|Charitable|activities|
|General|123,000|
|Total|127,384|
|NET INCOME/(EXPENDITURE)|(1,283)|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought forward|128,940|
|TOTAL FUNDS|CARRIED|FORWARD|127,657|
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STEVENAGE SPORTING FUTURES TEAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|6.|DEBTORS:|AMOUNTS|FALLING|DUE|WITHIN|ONE|YEAR|
|2020|2019|
|£|£|
|Trade|debtors|23,196|7,728|
|7.|CREDITORS: AMOUNTS|FALLING|DUE|WITHIN|ONE|YEAR|
|2020|2019|
|£|£|
|Social|security and|other taxes|1,463|4,590|
|Other|creditors|217|-|
|Accruals|and|deferred|income|900|900|
|2,580|5,490|
|8.|MOVEMENT|IN|FUNDS|
|Net|
|movement|At|
|At|1.9.19|in|funds|31.8.20|
|£|£|£|
|Unrestricted|funds|
|General|fund|127,657|(16,468)|111,189|
|TOTAL|FUNDS|127,657|(16,468)|111,189|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|98,738|(115,206)|(16,468)|
|TOTAL FUNDS|98,738|(115,206)|(16,468)|
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STEVENAGE SPORTING FUTURES TEAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2020
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.18 | in funds | 31.8.19 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 128,940 | (1,283) | 127,657 |
| TOTAL FUNDS | 128,940 | (1,283) | 127,657 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 126,101 | (127,384) | (1,283) |
| TOTAL FUNDS | 126,101 | (127,384) | (1,283) |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net | |||
| movement | At | ||
| At 1.9.18 | in funds | 31,8.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 128,940 | (17,751) | 111,189 |
| TOTALFUNDS | 128,940 | (17,751) | 111,189 |
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STEVENAGE SPORTING FUTURES TEAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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||||||
|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|224,839|(242,590)|(17,751)|
|TOTAL FUNDS|224,839|(242,590)|(17,751)|
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RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2020.
COMPANY LIMITED BY GUARANTEE
The company is limited by guarantee. Each member is liable to contribute up to a maximum of £1 to the company’s debt in the event of winding up.
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STEVENAGE SPORTING FUTURES TEAM LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2020
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||||||||
|---|---|---|---|---|---|---|
|2020|2019|
|£|£|
|INCOME|AND|ENDOWMENTS|
|Charitable|activities|
|Income|from|Schools|91,328|126,101|
|Sundry|receipts|7,410|-|
|98,738|126,101|
|Total|incoming|resources|98,738|126,101|
|EXPENDITURE|
|Raising|donations|and|legacies|
|Supplies|8,753|163|
|Hire|of facilities|546|4,221|
|9,299|4,384|
|Charitable|activities|
|Wages|88,001|100,291|
|Pensions|1,100|1,177|
|Travel|and|subsistence|4,032|7,823|
|Management|and|administration|11,766|10,619|
|104,899|119,910|
|Support|costs|
|Management|
|Sundries|-|1,509|
|Depreciation|of tangible|and|heritage|assets|-|368|
|-|1,877|
|Governance|costs|
|Accountancy|and|legal|fees|1,008|1,213|
|Total|resources|expended|115,206|127,384|
|Net expenditure|(16,468)|(1,283)|
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This page does not form part of the statutory financial statements
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