ALBURY SPORTS CLUB LIMITED (A company limited by guarantee)
Report and Financial Statements
Year ended: 31[st] March 2022
Charity no: 1154921 Company no: 08694361
Contents Page
| ontents Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Trustees | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5-6 |
| Detailed Statement of Financial Activities | 7 |
Legal and administrative information
Status
The organisation is a charitable company limited by guarantee, incorporated on 17[th] September 2013 and registered as a charity on 6[th] December 2013.
The company was established under a Memorandum of Association and is governed under its Articles of Association.
Registered Company Number
08694361
Charity Number 1154921
Trustees
C Nunn P Mace T Matthews
Registered Office
Essira, Willow Walk, Shere, Surrey GU5 9HY
Bankers
Lloyds TSB, High Street, Guildford, Surrey
Management
The responsibility for managing the affairs of Albury Sports Club Limited rests with the people who are listed as Trustees for the purpose of charity law and who are also Directors for the purpose of company law, together with the Chairpersons of the football and cricket clubs who sit on the committee but are not trustees. Together they are known as the Management Committee.
1
Report of the Trustees For the year ended 31st March 2022
The Trustees present their report and the financial statements for the year ended 31st March 2022.
Objectives and Activities
The company is a charity and exists to promote community participation in sporting activities predominantly for young people. During the year the company promoted the sporting activities of football, cricket and rounders to over 500 members. The trustees continued their efforts to improve the sporting facilities and provide additional venues for the increasing number of members.
The company received the net assets of Albury Football and Cricket Club on 1[st] October 2015 by way of a gift.
The company undertook a renovation of its clubhouse which was completed in November 2020 and was mainly funded by way of grants for which the Trustees are grateful. The company was committed to undertake more fundraising for the remaining funds needed. However, due to the outbreak of the Coronavirus pandemic, fundraising was unable to take place at this time. Fundraising has resumed since but more is still required.
Investment policy
The Management Committee has considered the most appropriate policy for investing funds and, shortly after the year end decided to invest some of the funds in a fixed interest fund designed for the charity sector, which they feel meets their requirements to generate interest at a satisfactory level at a low risk.
Risk review
The Management Committee has conducted its own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. Internal risks have been minimised by the implementation of a Child Protection Policy and by procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
Reserves Policy
It is the policy of the charity to maintain unrestricted funds in order to ensure the day to day running of the charity.
Approved by the Trustees on 20[th ] December 2022 and signed on their behalf by:
C Nunn Chairperson
2
ALBURY SPORTS CLUB LIMITED
ACCOUNTS
For the Year Ended 31st March 2022
Page 1 of 15
ALBURY SPORTS CLUB LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
| For the Year Ended 31st March 2022 | |
|---|---|
| Page | |
| Contents Page | 2 |
| Company Information | 3 |
| Directors' Report | 4-5 |
| Accountant's Report | 6-7 |
| Profit & Loss Account | 8 |
| Balance Sheet | 9-10 |
| Notes to the Financial Statements | 11-13 |
| The following pages do not form part of the statutory accounts. | |
| Administrative Expense Analysis | 14 |
Page 2 of 15
ALBURY SPORTS CLUB LIMITED
COMPANY INFORMATION
For the Year Ended 31st March 2022
| Trustees | Directors | C Nunn |
|---|---|---|
| T Matthews | ||
| P Mace | ||
| Registered Address | Essira | |
| Willow Walk | ||
| Shere | ||
| Surrey | ||
| GU5 9HY | ||
| Company Registration Number | 8694361 | |
| Bankers | Lloyds TSB | |
| High Street | ||
| Guildford | ||
| Surrey | ||
| Oakwood Business Consultants | ||
| Accountants | Unit 3, The Dairy | |
| Tilehouse Farm Offices | ||
| East Shalford Lane | ||
| Shalford | ||
| Guildford | ||
| GU4 8AE |
Page 3 of 15
ALBURY SPORTS CLUB LIMITED
DIRECTORS' REPORT
For the Year Ended 31st March 2022
The Directors present their report and the financial statements of the Sports Club for the year ended 31st March 2022.
MANAGEMENT
The responsiblity for managing the affairs of the club rest with the trustees and directors, together with the Chairpersons of the Football and Cricket Club who sit on the committee but are not trustees. Together they are known as the Management Committee
DIRECTOR'S RESPONSIBILITIES
Company law requires the director to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements, the director is required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
Page 4 of 15
ALBURY SPORTS CLUB LIMITED
DIRECTORS' REPORT (CONTINUED)
For the Year Ended 31st March 2022
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position or the sports club and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the club and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been properly prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime contained within the Companies Act 2006 and was approved by the board.
ON BEHALF OF THE BOARD
Date
C Nunn Director
Page 5 of 15
ALBURY SPORTS CLUB LIMITED ACCOUNTANTS' REPORT TO THE DIRECTORS
For the Year Ended 31st March 2022
We have prepared the financial statements of Albury Sports Club Limited for the year ended 31st March 2022 which comprise the Profit and Loss Account and the Balance Sheet and the related notes. These financial statements have been prepared under the historical cost convention and the accounting policies set out therein.
This report is made solely to the club’s directors, as a body, in accordance with your instructions. Our work has been undertaken so that we might report to you those matters you have required us to state in our report and for no other purpose. To the fullest extent of the law, we do not accept or assume responsibility to anyone other than the club and the company’s directors as a body, for our work, for this report, or for the opinions we have formed.
Respective responsibilities of Directors and Accountants
As described in the Statement of Directors’ Responsibilities the Company's Directors are responsible for the preparation of the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
Our responsibility is to prepare the financial statements in accordance with relevant legal and regulatory requirements.
We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 2006. We also report to you if, in our opinion, the Directors’ Report is not consistent with the financial statements, if the company has not kept proper accounting records, if we have not received all the information and explanations we require, or if information specified by law regarding Directors’ remuneration and transactions with the company is not disclosed.
We read the Directors’ Report and consider the implications for our report if we become aware of any apparent misstatements within it.
Page 6 of 15
ALBURY SPORTS CLUB LIMITED ACCOUNTANTS' REPORT TO THE DIRECTORS
For the Year Ended 31st March 2022
As described on the balance sheet you are responsible for the compilation of the accounts for the period ended 31st March 2022 set out on pages 1 to 15, and you consider that the company is exempt from audit and a report under section 476 of the Companies Act 2006.
Going Concern Opinion
In our opinion the financial statements give a true and fair view of the state of the Company's affairs as at 31st March 2022 and have been properly prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime contained within the Companies Act 2006.
Report
We report that, in accordance with your instructions and in order to assist you to fulfil your responsibilities, we have complied, without carrying out an audit, the accounts from the accounting records of the company and from the information and explanations supplied to us.
Oakwood Business Consultants Unit 3, The Dairy Tilehouse Farm Offices East Shalford Lane Shalford Guildford GU4 8AE
21st December 2022
Page 7 of 15
ALBURY SPORTS CLUB LIMITED
PROFIT AND LOSS ACCOUNT
For the Year Ended 31st March 2022
| Notes | 2021/22 | 2020/21 | |
|---|---|---|---|
| £ | £ | ||
| TURNOVER | 1.2 | 168,761 | 97,974 |
| Other income | |||
| Expenses | 162,173 | 132,408 | |
| OPERATING PROFIT(LOSS) | 6,588 | -34,434 | |
| TAXATION | 1 | 0 | 0 |
| PROFIT ON ORDINARY ACTIVITIES | |||
| AFTER TAXATION | 6,588 | -34,434 | |
| RETAINED PROFIT BROUGHT FORWARD | 333 | 34,767 | |
| RETAINED PROFIT CARRIED FORWARD | 6,921 | 333 |
Turnover and operating profit derive wholly from continuing operations. There were no recognized gains or losses for the period other than those included in the profit and loss account.
Page 8 of 15
ALBURY SPORTS CLUB LIMITED
BALANCE SHEET
For the Year Ended 31st March 2022
| Notes | £ £ 2021/22 |
£ £ 2021/22 |
£ £ 2020/21 |
£ £ 2020/21 |
|---|---|---|---|---|
| £ | £ | |||
| Fixed Assets Tangible Assets 3 Current Assets |
23,805 | 23,272 | ||
| Debtors & Prepayments 4 Cash at Bank |
50 9,303 |
0 21,566 |
||
| 9,353 | 21,566 | |||
| Total Assets | 33,158 | 44,838 | ||
| Current Liabilities | ||||
| Accls & Defrd Income 5 Creditors |
320 7,917 |
1,583 22,922 |
||
| Total Liabilities | 8,237 | 24,505 | ||
| Total Assets less Current Liabilities | 24,921 | 20,333 | ||
| Long term Liabilities Deferred grant income Loan Capital and Reserves |
0 18,000 |
6,921 | 0 20,000 |
333 |
| Shareholders' Funds | 6,921 | 333 | ||
| Total | 6,921 | 333 |
Page 9 of 15
ALBURY SPORTS CLUB LIMITED
BALANCE SHEET (CONTINUED)
For the Year Ended 31st March 2022
For the year ended 31st March 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the period in question in accordance with Section 476.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 and signed on its behalf.
C Nunn
Director
Page 10 of 15
ALBURY SPORTS CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31st March 2022
1. ACCOUNTING POLICIES
1.1 Accounting convention
The financial statements are prepared under the historical cost convention, in accordance with the Financial Reporting standard for Smaller Entities (effective August 2008) and include the results of the company’s operations which are described in the Directors' Report.
The company has taken advantage of the exemption in Financial Reporting Standard No. 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2 Incoming Resources
All incoming resources are included in the Statement of Financial activities when the charity is legally entiteld to theincome and the amount can be quantified with reasonable accuracy.
1.3 Resources Expended
Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate costs related to the catergory. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of the resources.
1.4 Taxation
The charity is exempt from corporation tax on its charitable acitivites.
1.5 Fund Accounting
Unrestricted Funds can be used in accordance with the charitable objectives at the discretion of the trustees
Page 11 of 15
ALBURY SPORTS CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the Year Ended 31st March 2022
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022
There were no trustees' expenses paid for the year ended 31st March 2022 other than those charged as resources as expended under charitable activities
3. FIXED ASSETS
The fixed assets relate to the leashold property transferred from Albury Football and Cricket Club on 1 October 2015, as well as various Equipment and Plant & Machinery used within the Club.
The property was transferred at a nominal value of £1
4. DEBTORS AND PREPAYMENTS
| 4. DEBTORS AND PREPAYMENTS | |
|---|---|
| Debtors & Prepayments 20/21 | 2022 £ 50 |
| 50 |
Page 12 of 15
ALBURY SPORTS CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the Year Ended 31st March 2022
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trade Creditors | 7,917 | 22,922 |
| Accruals and Deferred Income | 320 | 1,583 |
6. LIABILITY OF MEMBERS
Every member of the company undertakes to contribute to the assets of the company, in the event of the same being
wound up while they are a member, for payment of the debts and liabilities of the company contracted
before they cease to be a member, and of the costs, charges and expenses of winding up, and for the adjustment
of the rights of the contributors among themselves such amount as may be required, not exceeding ten pounds.
7. CHARITABLE COMPANY STATUS
The company is incorporated as a company limited by guarantee and not having share capital.
It is registered as a charity and is exempt from taxation.
Page 13 of 15
ALBURY SPORTS CLUB LIMITED
ADMINISTRATIVE EXPENSE ANALYSIS
| For the Year Ended 31st March 2022 | ||
|---|---|---|
| 2022 | 2021 | |
| Incoming Resources | £ | |
| Subscriptions, match and training fees | 67,426 | 57,084 |
| Fundraising (dinner dance) | 12,022 | 9,218 |
| Fundraising (cricket bbq/bar) | 0 | 0 |
| Fundraising (football camping weekend) | 0 | 0 |
| Other fundraising | 0 | 0 |
| Grant income | 9,667 | 18,626 |
| Grant income receivable for clubhouse project | 20,655 | 8,000 |
| Donations | 3,940 | 2,222 |
| Sponsorship income | 0 | 0 |
| Other income | 7 | 442 |
| Clubhouse Sales | 54,820 | 1,661 |
| Wildcats Income | 224 | 721 |
| Total incoming resources | 168,761 | 97,974 |
| Resources Expended | ||
| Subscriptions | 3,065 | 3,625 |
| Pitch hire | 5,847 | 6,069 |
| Costs of fundraising (dinner dance) | 13,916 | 0 |
| Costs of fundraising (cricket bbq/bar) | 0 | 0 |
| Match costs | 4,991 | 2,050 |
| Coaching | 240 | 990 |
| Equipment | 11,679 | 5,806 |
| Uniform | 0 | 853 |
| Office & Administration expenses | 989 | 1,896 |
| Accountancy fees | 3,388 | 2,227 |
| Rent, rates and insurance | 7,199 | 4,068 |
| Pavillion and equipment maintenance | 60 | 587 |
| Grounds maintenance | 35,625 | 25,293 |
| Training courses | 1,289 | 329 |
| Utilities | 6,126 | 4,801 |
| Other expenditure | 626 | 349 |
| Professional fees - lease renewal/clubhouse | 1,303 | 6,065 |
Page 14 of 15
ALBURY SPORTS CLUB LIMITED
ADMINISTRATIVE EXPENSE ANALYSIS
For the Year Ended 31st March 2022
| For the Year Ended 31st March 2022 | |
|---|---|
| Purchase Defibrillators Clubhouse Operating Costs Clubhouse Café/Bar Equipment Clubhouse Staff Costs Clubhouse Set up Expenditure Wildcats Expenditure Bank & Finance Costs Depreciation Interest Buildings Repairs & Maintenance Registration Fees Total Resources Expended Net (Outgoing)/Incoming Resources |
2022 2021 0 567 23,608 5,623 6,030 3,339 23,262 3,800 3,663 52,982 0 790 1,623 54 938 245 237 0 4130 0 2339 0 162,173 132,408 |
| 6,588 -34,434 |
Page 15 of 15
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Sectlon A Independent Examiner's Report Report to the trustsesl members of ALBURY SPORTS CLUB LIMITED On accounts for the year ended 31 MARCH 2022 Charity no (if any) 1154921 Sèt out on pages I report to the trustees on my examination ofthe accounts of the above charity [he Trusv,) for the year ended 31103 12022. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (°the Act") Responsibilities and basis of report I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(bl of the Act. Independent examiner's statsment I have Gompleted my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordan 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 conTrrning 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 fairf view which is not a matter considered as part of an indèpendent examination. I have no concems 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. Slgned. Date: I4LL Name: Jw b QJLthcNS Relevant professional qualification{sl or body {if any}: Address: UNIT 3, THE DAIRY, TILEHOUSE FARM OFFICES, EAST SHALFORD IER Oct 2018
LANE, SHALFORD, GUILDFORD, GU4 8AE Section 8 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 any items that the examiner wishes to disclose. NONE TO DISCLOSE IER Oct 2018