ALBURY SPORTS CLUB LIMITED (A company limited by guarantee)
Report and Financial Statements
Year ended: 31[st] March 2023
Charity no: 1154921 Company no: 08694361
Contents 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 2023
The Trustees present their report and the financial statements for the year ended 31st March 2023.
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 3[rd] October 2023 and signed on their behalf by:
C Nunn Chairperson
2
ALBURY SPORTS CLUB LIMITED ACCOUNTS For the Year Ended 31st March 2023 Page l of 15
ALBURY SPORTS CLUB LIMITED CONTENTS OF THE FINANCIAL STATEMENTS For the Year Ended 31st March 2023 Page Contents Page Company Information Directors, Report 4-5 Accountant's Report 6-7 Profit & Loss Account 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 IS
ALBURY SPORTS CLUB LIMITED COMPANY INFORMATION For the Year Ended 31st March 2023 Trustees Directors C Nunn T Matthews P Mace Registered Address Unit 3, The Dairy Tilehouse Farm Offices East Shalford Lane Guildford GU4 8AE Company Registration Number 8694361 Company Secretary Oakwood Cranleigh Limited Bankers Lloyds TSB High Street Guildford Surrey Oakwood Business Consultants Unit 3, The Dairy Tilehou5e Farm Offices East Shalford Lane Shalford Guildford Accountants GU4 8AE Page 3 of 15
ALBURY SPORTS CLUB LIMITED DIREcfoRS' REPORT For the Year Ended 31st March 2023 The Directors present their report and the financial statements of the Sports Club for the year ended 31st March 2023. 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 DIREcfoR'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 affair5 of the company and of the profit or1055 of the company for that period. In preparing those financial statements, the director is required to: selett suitable accounting policies and then apply them consistently. make judgements and estimates that are reasonable and prudent. prepare the financial statement5 on the going concern basis unless it is inappropriate to presume that the company will continue in busines5. Page 4 of 15
ALBURY SPORTS CLUB LIMITED DIREcfoRS' REPORT (CONTINUED) For the Year Ended 31st March 2023 The direttors 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, REPORTTO THE DIRECTORS For the Year Ended 31st March 2023 We have prepared the financial statements of Albury Sports Club Limited for the year ended 31st March 2023 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 15 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 companvs direttors as a body, for our work, for this report, or for the opinion5 we have formed. Respective responsibilities of Directors and Accountants As described in the Statement of Dirertors, Responsibilities the Company's Director5 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 Art 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 Director5, 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 DIREcfoRS For the Year Ended 31st March 2023 As described on the balance sheet you are responsible for the compilation of the accounts for the period ended 31st March 2023 set out on pages I to 15, and you consider that the company is exempt from audit and a report under section 476 of the Companies Att 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 2023 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. onHth Oakwood Business Consultants Unit 3, The Dairy Tilehouse Farm Offices East Shalford Lane Shalford Guildford GU4 8AE 25th October 2023 Page 7 ot 15
ALBURY5PORTS CLUB LIMITED PROFIT AND LOSS ACCOUNT For the Year Ended 315t March 2023 Notes 2022123 2021122 TURNOVER 202,606 168,761 Other income Expenses 187,085 162,173 OPERATING PROFIT(LOSS) 15,521 6,588 TAXATION PROFIT ON ORDINARY ACTIVITIES AFfER TAXATION 15,521 6,588 RAINED PROFIT BROUGHT FORWARD 6,921 333 RETAINED PROFIT CARRIED FORWARD 22.442 6,921 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 2023 2022/23 2021/22 Notes Fixed Assets Tangible Assets 22,780 23,805 Current Assets Debtors & Prepayments Cash at Bank 1,825 34,126 35.951 50 9,303 9.353 Total Assets 58,731 33.158 Current Liabilities Accls & Defrd Income Creditors 342 21,947 320 7,917 Total Liabilities 22,289 8.237 Total Assets less Current Liabilities 36.442 24,921 Long term Liabilities Deferred grant income Loan 14,000 18,000 Capital and Reserves 22,442 6.921 Shareholders, Funds 22,442 6,921 Total 22,442 6,921 Page g of 15
ALBURY SPORTS CLUB LIMITED BALANCE SHEET (CONTINUED) For the Year Ended 31st March 2023 For the year ended 31st March 2023 the company was entitled to exemption under section 477 of the Companie5 Act 2006 relating to small companies. No members have required the company to obtain an audit of it5 accounts for the period in question in accordance with Section 476. The Directors acknowledge their responsibilitie5 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 provision5 applicable to companies subject to the small companies regime. The financial statements were approved by the board on and signed on its behalf. IL* 1012 Director Page 10 of 15
ALBURYSPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31st March 2023 I. 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 (effertive August 2008) and include the results of the companvs operations which are described in the Directors, Report. The company has taken advantage of the exemption in Financial Reporting Standard No. I 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 2023 2. TRUSTEES, REMUNERATION AND BENEFITS There were no trustee5' remuneration or other benefits for the year ended 31 March 2023 There were no trustee5' expenses paid for the year ended 31st March 2023 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 l October 2015, as well as various Equipment and Plant & Machinery used within the Club. The propety was transferred at a nominal value of £1 4. DEBTORS AND PREPAYMENTS 2023 Debtors & Prepayments 1,825 1,825 Page 12 of 15
ALBURYSPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS CONTINUED For the Year Ended 31st March 2023 5. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Trade Creditors Accruals and Deferred Income 21,947 342 7,917 320 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 pound5. 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 2023 2023 2022 Incoming Resources Subscription5, match and training fees Fundraising (dinner dance} Interest Income Hire of Clubhouse Community Membership Grant income Grant income receivable for clubhouse projett Donations Sponsorship income Other income Clubhouse Sales Wildcats Income Total incoming resources Resources Expended Subscriptions Pitch hire Costs of fundraising (dinner dance) Costs of fundraising (cricket bbq/bar) Match costs Coaching Equipment Uniform Office & Administration expenses Accountancy fees Rent, rates and insurance Pavillion and equipment maintenance Grounds maintenance Training courses Utilities Other expenditure Professional fees - lease renewal/clubhouse 80,267 9,024 24 67,426 12,022 5,471 264 6,420 9,667 20,655 3,940 4,393 8,800 87,943 54,820 224 168.761 202.606 1,187 6,564 304 3,065 5,847 13,916 4,285 4,991 240 11,679 7,362 833 4,348 3,471 742 32,671 1,814 7,504 1,252 70 989 3,388 7,199 60 35,625 1,289 6,126 626 1,303 Page 14 of 15
ALBURY SPORTS CLUB LIMITED ADMINISTRATIVE EXPENSE ANALYSIS For the Year Ended 31st March 2023 2023 2022 Purchase Defibrillators Clubhouse Operating Costs Clubhouse Cafe/Bar Equipment Clubhouse Staff Costs Clubhouse Set up Expenditure Completion of Clubhouse Project Wildcats Expenditure Bank & Finance Costs Depreciation Interest Buildings Repairs & Maintenance Registration Fees Sponsorship Expenditure - Kits Total Resources Expended Net {Outgoing)]Incoming Resources 37,775 1,883 43,306 23,608 6,030 23,262 3,663 18,000 2,577 1,025 407 1,623 938 237 843 4,130 2,339 4,493 4,369 187,085 162,173 15.521 6.588 Page 15 of 15
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of ALBURY SPORTS CLUB LIMITED On accounts for the year ended 31 MARCH 2023 Charity no lif any) 1154921 Set out on pages I report to the trustees on my examination of the accounts of the above harity (Yhe Trust") for the year ended 31103 12023. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145{51{b) of the Act. Independent examiner's statement I have completed my examination. I confimi that no malerial 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 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 fomi 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 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 ofthe accounts lo be reached. Signed: Date: 2610112024 Name: CAMILLA HILLS 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 B Disclosure Only complete if the examiner needs lo 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