Charity number: 1157451
FLITWICK TOGETHER
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
FLITWICK TOGETHER
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 18 |
FLITWICK TOGETHER
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2022
| Trustees | M Gifford, Chair |
|---|---|
| L Gazeley, Trustee | |
| C Cheshire, Trustee | |
| Mr J Conquest, Trustee | |
| Mr N Taylor, Trustee | |
| Mr I Mulligan, Trustee | |
| Mr M Byrne, Trustee | |
| Charity registered number 1157451 Principal office Flitwick Community Football Centre Ampthill Road Flitwick Bedford MK45 1BA |
Page 1
FLITWICK TOGETHER
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2022
The Trustees present their annual report together with the financial statements of the Flitwick Together for the 1 August 2021 to 31 July 2022.
Objectives and activities
a. Policies and objectives
The Trustees operate to a set of policies ensuring the safe and secure operation of services provided. These are published on our web site.
The CIO’s primary objective is to provide facilities for the local community for participation in football. This is delivered through the lease held on the Flitwick Community Football Centre.
The site has a hall which is made available for use by community organisations. Provision of this facility is our second objective.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
The Trustees oversee the operation of Flitwick Community Football Centre to ensure that both the grass and pavilion facilities are maintained and made available for the wider community use. Much of this is discharged through the subsidiary trading company – The Flitwick Sports CIC.
The Trustees meet quarterly to review management information and assess the ongoing sustainability and compliance of operations.
The Trustees manage a series of capital projects aimed at enhancing the facilities offered to the community. These are reviewed through the quarterly reporting and meeting cycle.
c. Activities undertaken to achieve objectives
The Trustees oversaw the CIO finances to ensure operating costs were managed to a low level. Additional sources of revenue were secured including government grants.
The Trustees invested reserves in capital projects to improve and sustain facilities which would enable the safe operation of the centre. This included upgrade of audio-visual equipment, installation of a point-of-sale system and facilities required for the safe reopening post lockdown.
d. Main activities undertaken to further the Charity's purposes for the public benefit
The Trustees ensured that a full pitch and facilities maintenance programme was continued so that the pitches were available for use when restrictions were relaxed. This enabled the local community to benefit from the much needed healthy recreation opportunity.
Investment in till and audio-visual enabled cashless transactions and provided additional outdoor space for users. Upgrades to the CCTV and intruder detection system made for a safer, assured environment.
Page 2
FLITWICK TOGETHER
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022
Achievements and performance
a. Main achievements of the Charity
Actions and investments taken by the charity enabled changes to facility operations so that a full programme of use was offered within a greatly changed world. The Trustees are proud to have seen increased participation, in particular supporting growth in girls participation.
The charity supported other bodies undertaking community benefit work for example Young Leaders and Holiday Activities and Food programme.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Trustees have reviewed their reserves policy to take into account their pandemic experiences. This ensure that after restricted funds have been assigned, the budgets for operational and contingency funds are covered. The remaining unrestricted funds are assigned to capital projects for both short and longer term requirements.
Structure, governance and management
a. Constitution
Flitwick Together is a registered charity, number 1157451, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Page 3
FLITWICK TOGETHER
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, 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 of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) 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 Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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 members of the board of Trustees and signed on their behalf by:
................................................ M Gifford (Chair of Trustees) Date: 23rd May 2023
Page 4
FLITWICK TOGETHER
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2022
Independent examiner's report to the Trustees of Flitwick Together ('the Charity')
We report to the charity Trustees on our examination of the accounts of the Charity for the year ended 31 July 2022.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
We report in respect of our examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out our examination we have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning 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 fair' view which is not a matter considered as part of an independent examination.
We 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.
Page 5
FLITWICK TOGETHER
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our work has been undertaken so that we might state to the Charity's Trustees those matters we are required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for our work or for this report.
Signed:
Dated:
Elizabeth Newell BA (Hons) FCA
MHA MacIntyre Hudson Chartered Accountants Milton Keynes
Page 6
FLITWICK TOGETHER
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net income Transfers between funds 13 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2022 £ 23,000 - 23,000 3,354 3,354 19,646 (101,622) (81,976) 101,622 (81,976) 19,646 |
Unrestricted funds 2022 £ 18,126 8,250 26,376 15,249 15,249 11,127 101,622 112,749 - 112,749 112,749 |
Total funds 2022 £ 41,126 8,250 49,376 18,603 18,603 30,773 - 30,773 101,622 30,773 132,395 |
Total funds 2021 £ 31,364 10,262 41,626 |
|---|---|---|---|---|
| 20,148 20,148 |
||||
| 21,478 - 21,478 |
||||
| 80,144 21,478 101,622 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 18 form part of these financial statements.
Page 7
FLITWICK TOGETHER
BALANCE SHEET AS AT 31 JULY 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 Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 13 Unrestricted funds 13 Total funds |
21,501 67,820 89,321 (950) |
2022 £ 44,024 44,024 88,371 132,395 132,395 132,395 19,646 112,749 132,395 |
19,790 31,134 50,924 (850) |
2021 £ 51,548 |
|---|---|---|---|---|
| 51,548 50,074 |
||||
| 101,622 | ||||
| 101,622 | ||||
| 101,622 | ||||
| 101,622 - |
||||
| 101,622 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
M Gifford (Chair of Trustees) Date: 23rd May 2023
The notes on pages 9 to 18 form part of these financial statements.
Page 8
FLITWICK TOGETHER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
1. General information
The charity is a registered charity in England and Wales and is unincorporated. The address of the principal office is Flitwick Community Football Centre, Ampthill Road, Flitwick, Bedford, MK45 1BA.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Flitwick Together meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 9
FLITWICK TOGETHER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
2. Accounting policies (continued)
2.4 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
| Long-term leasehold property | - | 25% reducing balance |
|---|---|---|
| Plant and machinery | - | 25% reducing balance |
| Fixtures and fittings | - | 25% reducing balance |
| Office equipment | - | 25% reducing balance |
| Computer equipment | - | 25% reducing balance |
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 10
FLITWICK TOGETHER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
2. Accounting policies (continued)
2.9 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 designated for other purposes.
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.
3. Income from donations and legacies
| Donations and gifts Grants receivable Donations and gifts Grants receivable |
Restricted funds 2022 Unrestricted funds 2022 £ £ 23,000 13,395 - 4,731 23,000 18,126 Restricted funds 2021 £ 4,525 26,839 31,364 |
Total funds 2022 £ 36,395 4,731 41,126 |
|---|---|---|
| Total funds 2021 £ 4,525 26,839 31,364 |
4. Income from charitable activities
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2022 | 2022 | |
| £ | £ | |
| Sales within charitable activities - management charges | 8,250 | 8,250 |
Page 11
FLITWICK TOGETHER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
4. Income from charitable activities (continued)
| Restricted | Total | |
|---|---|---|
| funds | funds | |
| 2021 | 2021 | |
| £ | £ | |
| Sales within charitable activities - management charges | 10,262 | 10,262 |
5. Analysis of expenditure on charitable activities
Summary by fund type
| Sales within charitable activities - management charges Sales within charitable activities - management charges |
Restricted funds 2022 Unrestricted funds 2022 £ £ 3,354 15,249 Restricted funds 2021 £ 20,148 |
Total 2022 £ 18,603 |
|---|---|---|
| Total 2021 £ 20,148 |
6. Analysis of expenditure by activities
| Activities | ||
|---|---|---|
| undertaken | Total | |
| directly | funds | |
| 2022 | 2022 | |
| £ | £ | |
| Sales within charitable activities - management charges | 18,603 | 18,603 |
Page 12
FLITWICK TOGETHER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
6. Analysis of expenditure by activities (continued)
| Activities | ||
|---|---|---|
| undertaken | Total | |
| directly | funds | |
| 2021 | 2021 | |
| £ | £ | |
| Sales within charitable activities - management charges | 20,148 | 20,148 |
Analysis of direct costs
| Depreciation and impairment Accountancy Sundries Postage, freight and courier IT software and consumables Telephone and internet Subscriptions Advertising and marketing Consulting fees |
Activities 2022 £ 10,641 1,696 773 19 168 14 360 1,908 3,024 18,603 |
Total funds 2022 £ 10,641 1,696 773 19 168 14 360 1,908 3,024 18,603 |
|---|---|---|
Page 13
FLITWICK TOGETHER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
6. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Depreciation and impairment Accountancy Grants Sundries Postage, freight and courier IT software and consumables Repairs and maintenance Telehone and internet Subscriptions 7. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts |
Activities 2021 £ 7,180 771 10,241 599 95 402 474 15 371 20,148 2022 £ 950 |
Total funds 2021 £ 7,180 771 10,241 599 95 402 474 15 371 20,148 |
|---|---|---|
| 2021 £ 850 |
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 July 2022, expenses totalling £838 were reimbursed to M Gifford, Chair (2021 - £1,754 to M Gifford, Chair) . Expenditure reimbursed includes the purchasing of small equipment, small consumable costs and minor repair costs.
Page 14
FLITWICK TOGETHER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
9. Tangible fixed assets
| Cost or valuation At 1 August 2021 Additions At 31 July 2022 Depreciation At 1 August 2021 Charge for the year At 31 July 2022 Net book value At 31 July 2022 At 31 July 2021 |
Long-term leasehold property £ 51,808 - 51,808 16,603 8,445 25,048 26,760 35,205 |
Plant and machinery £ 3,086 - 3,086 183 772 955 2,131 2,903 |
Fixtures and fittings £ 4,591 - 4,591 3,633 593 4,226 365 958 |
Office equipment £ 832 - 832 52 195 247 585 780 |
Computer equipment £ 12,020 3,117 15,137 318 636 954 14,183 11,702 |
Total £ 72,337 3,117 75,454 |
|---|---|---|---|---|---|---|
| 20,789 10,641 31,430 |
||||||
| 44,024 | ||||||
| 51,548 |
10. Debtors
| Due within one year Amounts owed by group undertakings Creditors: Amounts falling due within one year Accruals and deferred income |
2022 £ 21,501 21,501 2022 £ 950 |
2021 £ 19,790 |
|---|---|---|
| 19,790 | ||
| 2021 £ 850 |
11. Creditors: Amounts falling due within one year
Page 15
FLITWICK TOGETHER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
12. Financial instruments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 67,820 | 31,134 |
Page 16
FLITWICK TOGETHER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
13. Statement of funds
| Balance at 1 August 2021 £ Unrestricted funds General Funds - Unallocated amounts - - Restricted funds Restricted Funds - all funds 101,622 Artificial Grass Pitch Project - Tractor Project - 101,622 |
Income £ 13,021 13,355 26,376 - 15,000 8,000 23,000 |
Expenditure £ (15,249) - (15,249) - (3,354) - (3,354) |
Transfers in/out £ Balance at 31 July 2022 £ 101,622 99,394 - 13,355 101,622 112,749 (101,622) - - 11,646 - 8,000 (101,622) 19,646 |
Transfers in/out £ Balance at 31 July 2022 £ 101,622 99,394 - 13,355 101,622 112,749 (101,622) - - 11,646 - 8,000 (101,622) 19,646 |
|---|---|---|---|---|
| - 11,646 8,000 19,646 |
Artificial Grass Pitch Project - funds given for initial planning works and professional services expenses in relation to the installation of and artificial pitch.
Tractor Project - funds given to allow the purchase of machinery for the Grass Pitch Maintenance Project
| Total of funds | 101,622 | 49,376 | (18,603) | - | 132,395 |
|---|---|---|---|---|---|
After careful consideration, the Trustees have noted that funds have been incorrectly catergorised in previous years. There is no set agreement that requires these funds to be restricted. As such, the brought forward restricted funds balance has now been correctly reallocated to unrestricted funds.
Page 17
FLITWICK TOGETHER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
14. Analysis of net assets between funds
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2022 Unrestricted funds 2022 £ £ - 44,024 19,646 69,675 - (950) 19,646 112,749 |
Total funds 2022 £ 44,024 89,321 (950) 132,395 |
|---|---|---|
Page 18