## BRIDGEND TOWN FC
Trustees Annual Report and Statement of Accounts 20222023
||**Page**|
|---|---|
|**Trustees Annual Report**|2|
|**Legal and professional Information**|4|
|**Statement of Accounts**|5|
|**Statement of Receipts and Payments**|5|
|**Statement of Balances**|6|
|**Restricted Funds Receipts and Payments**|6|
|**Notes to the Accounts**|7|
Page 1
## TRUSTEES’S ANNUAL REPORT
The trustees present their report, along with the financial statements of the Club, for the year ended 31[st] March 2023. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and in compliance with the Club’s Constitution and applicable law.
## **TRUSTEES’ RESPONSIBILITIES**
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the Club’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Club will continue to operate.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Club and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.
## **EXERCISE OF TRUSTEES’ POWERS**
The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission.
## **GOVERNANCE AND ORGANISATION**
The Club registered as a Charitable Incorporated Organisation and is governed by its Constitution, adopted in June 2014. The names of the trustees holding office during the year to which these accounts relate are given on page 4. The trustees are appointed at the Annual General Meeting (AGM) The trustees meet on a regular basis during the year to discuss and administer the affairs of the Club. Reports on Club activities are made to the entire membership of the Club at its AGM.
## **CHARITY OBJECTS**
The object of the CIO is to advance healthy recreation and physical education of children and young people up to the age of 18 in Bridgend and the surrounding area through the playing of, and coaching in, association football. The Club achieves these objects by providing training facilities, entering a local football league and entering annual football festival for teams across south Wales.
## **REVIEW OF ACTIVITIES**
During the 2022/23 season, the Club has run 9-year groups participating in the Bridgend Port Talbot Junior Football League (U7s to U15s). The club has set up a U6s team in March 2023 with the plan to run 10-year groups in 2023/24. The increase of one age group is due to a U16s team playing for 2023/23.
Page 2
The club decided not to hold a fun day again this year, as prior year, and instead looked to alternative methods for fundraising.
## **FUTURE DEVELOPMENTS**
The club is in the process of purchase new kit for all age groups for the 2023/24 season.
The club has gathered sponsorship from local businesses and have secured donations from Midas Solutions Ltd, Watts & Morgan, Coety Consulting, Spar and Aevitas Wealth Management.
The Club is also putting in a claim for Gift Aid claim relating to the last three seasons. This is expected to be submitted during summer of 2023.
## **FINANCIAL SUMMARY**
The accounts have been prepared for a 12-month period for the financial year end to 31[st] March 2023.
The principal source of funds for the Club remains the membership fees paid by its members, representing 72% (2022: 98%) of total receipts during the period. Members fees have increased significantly from last year due to greater emphasis being placed on ensuring membership fees are paid. During the 12 months, the club gather £20,899.25 in Membership fees.
Overall, direct charitable payments have increased compared to prior year, £24,060.88 (2022: £18,261).
As of 31 March 2023, the Club holds £11,520 (2022: £9,421) in general funds. The Trustees consider this to be an appropriate level of reserves based on the activities of the Club.
## **RESERVES POLICY**
It is the policy of the Club to maintain sufficient unrestricted funds (the free reserves of the Club) for the effective management day to day of the Club’s finances i.e., to cover costs of playing football and purchase of kit and equipment, as well as being able to respond to emergency needs which may arise from time to time.
## **RISK MANAGEMENT**
The trustees have put in place several policies and procedures relating to areas of risk in connection with various aspects of the Club’s activities.
## **TRUSTEE APPROVAL**
This annual report has been approved by the trustees and signed on their behalf by:
Mike Gardner____________________ Lisa Goodwin ____________________ Chairman Secretary Date 27.06.2023_________ Date 27.06.2023__________
Page 3
Page 3
## LEGAL AND PROFESSIONAL INFORMATION
## TRUSTEES DURING THE FINANCIAL YEAR AND AT THE DATE OF THE TRUSTEES REPORT
|**Name**
**Appointed**
**Resigned**|**Name**
**Appointed**
**Resigned**|**Name**
**Appointed**
**Resigned**|
|---|---|---|
|Michael Baroth|June 2014|_25 July 2022_|
|Lisa Goodwin
June 2014
_26 June 2023_|||
|_Nigel Smith_|1 June 2018|_26 June 2023_|
|Michael Gardner
22 February 2017|||
|Richard Edwards|1 June 2018||
|Marc Cheverton
25 July 2022|||
|Jamie Wilson|25 July 2022||
## CHARITY REGISTRATION
Registration number: 1158594
Registered Office:38 Wild Field, Broadlands, Bridgend, CF31 5FF
## BANKER
NatWest Bank plc, 28 Adare Street, Bridgend, CF31 1EN.
Page 4
## STATEMENT OF RECEIPTS AND PAYMENTS
FOR THE 12 MONTH PERIOD ENDED 31[ST] MARCH 2023 (12 MONTH PERIOD ENDED 31[ST] MARCH 2023)
|**2022**|**2023**|
|---|---|
|**Total**
**£**
**Receipts**
**17,862**
Membership fees
**0**
Gift Aid
**0**
Sponsorship
**0**
Grant funding
**400**
Miscellaneous income
**0**
Donations and fundraising
**18,262**
Total receipts
**Payments**
**9,650**
Pitch and Training facility
hire
**506**
Referee fees
**0**
Tournament entry fees
**6,880**
Kit and equipment
**443**
Player presentations and
trophies
**1,181**
Coach training and
education
**989**
League costs and SWFA
fnes
**0**
Events
**0**
Other
**19,659**
Total payments|**Gener**
**al**
**Fund**
**Restrict**
**ed**
**Funds**
**Total**
**£**
**£**
**£**
20,899
0
20,899
0
0
0
5,000
0
5,000
2,801
0
2,801
361
0
361
0
0
0|
||29,061
0
29,061|
||14,458
0
14,458
717
0
717
1,155
0
1,155
9,408
0
9,408
1,294
0
1,294
2,029
0
2,029
1,772
0
1,772
0
0
0
1,277
0
1,277|
||32,110
0
32,110|
|||
Page 5
## STATEMENT OF RECEIPTS AND PAYMENTS
FOR THE 12 MONTH PERIOD ENDED 31[ST] MARCH 2023 (12 MONTH PERIOD ENDED 31[ST] MARCH 2023) **(1,397** (Deficit) for the year (3,049) 0 (3,049 **)** )
Page 5
## STATEMENT OF BALANCES
## AS AT 31[ST] MARCH 2023
|**31st**
**March**
**2022**|**31st March 2023**|
|---|---|
|**Total**
**Note**
**£**
**Movement in balances**
**for the year**
**11,102**
Opening balance at 1stApril
**0**
Uncleared Payments 2022
**(1,397**
**)**
(Defcit) / Proft for the year
**9,705**
Closing balance at 31st
March
**Represented by:**
**9,705**
Current Account – NatWest|**Gener**
**al**
**Fund**
**Restrict**
**ed**
**Funds**
**Total**
**£**
**£**
**£**
14,569
0
14,569
0
0
0
(3,049)
0
(3,049
)|
||11,520
0
11,520|
||11,520
0
11,520|
Page 7
## STATEMENT OF BALANCES
AS AT 31[ST] MARCH 2023
## RESTRICTED FUNDS RECEIPTS AND PAYMENTS FOR THE 12 MONTH PERIOD ENDED 31[ST] MARCH 2023
||**Matc**
**h Kit**
**depos**
**its**
**Com**
**ic**
**Reli**
**ef**
**Gran**
**t**
**Commu**
**nity**
**Chest**
**Tota**
**l**|
|---|---|
|**Opening balance at 1st April**
**Received during the year**
**Kit bond refunds**
**Pitch training and facility hire**
**Kit and equipment**
**Coach education and training**
**Closing balance at 31st March**|Kit
Deposi
ts
Comi
c
Relie
f
Gran
t
Communi
ty Chest
Grant
Total
£
£
£
£
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0|
||0
0
0
0|
Page 7
## NOTES TO THE ACCOUNTS
## 1. **Basis of accounts**
The accounts have been prepared under the historical cost convention on a receipts and payments basis and are in accordance with the Charities (Accounts and Reports) Regulations 2005 and guidance issued by the Charities Commission.
## 2. **Fund accounting**
Bridgend Town FC is a registered Charitable Incorporated Organisation (CIO). Under its constitution, the trustees of the Club are free to apply the unrestricted general funds for the general charitable purposes set out in the constitution.
The following restricted funds are operated:
Kit bonds: The Club issues its playing members with match kit, ownership of which is retained by the Club.
Grant funds: The Club applies for grant funding to support specific projects. These funds are restricted to the purposes for which the funding was approved. There was no grant funding received in 2021/22, in 2020/21 there was £1,000 received with no conditions attached so it has not been shown as a restricted fund.
Further detail on restricted funds received and spent is set out on page 7.
## 3. **Trustee remuneration and expenses**
No trustees received any remuneration or claimed expenses during the financial year.
## 4. **Related party transactions**
There were no related party transactions during the year.
## 5. **Loans and guarantees**
The Club has no borrowings as at 31[st] March 2023 (2022: £nil) and has not borrowed any monies during the year.
The Club has given no guarantees during the financial year.
Page 8