**REGISTERED COMPANY NUMBER: 08585798 (England and Wales) REGISTERED CHARITY NUMBER: 1164212** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022** ## **FOR** ## **THE HORNCASTLE TOWN FOOTBALL CLUB LTD** Dexter & Sharpe Chartered Certified Accountants Rollestone House 20-22 Bridge Street Horncastle Lincolnshire LN9 5HZ **THE HORNCASTLE TOWN FOOTBALL CLUB LTD** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Balance Sheet**||5|| |**Notes to the Financial Statements**|6|to|9| |**Detailed Statement of Financial Activities**||10|| ## **THE HORNCASTLE TOWN FOOTBALL CLUB LTD** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022** 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 31 May 2022. 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The purposes of the charity are as follows: - to provide facilities for and to promote participation in the amateur sport of football in Horncastle, Lincolnshire and the surrounding area; - to establish and maintain a permanent amateur club in Horncastle for the teaching, playing and coaching of football for the benefit of the inhabitants of Horncastle and the surrounding area; - to provide facilities for football and to promote, encourage and facilitate the playing of football in the area of Horncastle and amongst the community; - to provide the ordinary benefits of belonging to a sports club, including the provision of suitably qualified coaches, coaching courses, insurance, medical treatment and post-match refreshments; and - to affiliate to the FA and parent county association and to comply with and uphold the rules and regulations of both organisations. ## **Significant activities** After a couple of years of difficult times due to Covid we are back up and running on and off the pitch, looking forward to another full season of football and events off the pitch generating income to help maintain our facilities. The Christmas raffle, being one of the first larger efforts to bring in revenue, was again really well supported and thoughts in the New Year soon turn to warmer weather and our football tournament. Compliments from visiting teams, saying how well run the two days are, are testament to those who stepped up to run the tournament. The clubhouse continues to be proving a valuable asset with JB Sports continuing to run the BTEC course from there as their teaching facility goes from strength to strength as well as being available to other members of the wider community to use for various events. Regular events like the monthly bingo nights continue to be successful, and the quiz nights are proving to be a success. The club's main pitch has also seen a great improvement this year with the perimeter fence going ahead. ## **Public benefit** We have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. ## **FINANCIAL REVIEW** ## **Financial position** The closing balance sheet shows net assets of £43,250 represented by a general fund of the same amount. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity's memorandum and articles of association is its governing document. ## **Charity constitution** The charity is a company limited by guarantee, with each member undertaking to contribute £10 to the charity's assets in the event of it being wound up. ## **Recruitment and appointment of new trustees** New trustees are appointed in accordance with the company's articles of association, either by the existing trustees or by the members at a general meeting of the company. No other person or external body is entitled to appoint trustees. When considering co-opting a new trustee, the board has regard to the requirement for any specialist skills needed. Co-opted trustees are then subject to appointment by the members at the next general meeting. ## **Induction and training of new trustees** New trustees are given an induction, during which they are briefed on their legal obligations under charity and company law, the Charity Commission guidance on public benefit and the recent financial performance of the charity. Trustees are also encouraged to attend appropriate training events appropriate to their role. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 08585798 (England and Wales) Page 1 **THE HORNCASTLE TOWN FOOTBALL CLUB LTD** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022** **Registered Charity number** 1164212 **Registered office** The Wong Horncastle Lincolnshire LN9 6EA **Trustees** P A Nagle C H Low J R Town K R Jones (resigned 22.10.2021) L M Stephenson P M Johnson A N Cotton H D Johnson C Johnson (resigned 22.10.2021) S R Baxter (resigned 22.10.2021) I A Close (resigned 22.10.2021) L Nickless Director (appointed 22.10.2021) Mrs N M Fawcett Director (appointed 22.10.2021) J P Kimber Director (appointed 22.10.2021) A Shinn Director (appointed 22.10.2021) I Mellor Director (appointed 22.10.2021) **Company Secretary** P A Nagle **Independent Examiner** Dexter & Sharpe Chartered Certified Accountants Rollestone House 20-22 Bridge Street Horncastle Lincolnshire LN9 5HZ Approved by order of the board of trustees on 28 September 2022 and signed on its behalf by: I Mellor - Trustee Page 2 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HORNCASTLE TOWN FOOTBALL CLUB LTD** ## **Independent examiner's report to the trustees of The Horncastle Town Football Club Ltd ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2022. ## **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, I 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 I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. 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 4. 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 Ireland (FRS 102)). I 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. Mr T J Russell BA (Hons) FCCA Dexter & Sharpe Chartered Certified Accountants Rollestone House 20-22 Bridge Street Horncastle Lincolnshire LN9 5HZ 28 September 2022 Page 3 ## **THE HORNCASTLE TOWN FOOTBALL CLUB LTD** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2022** |||**2022**|2021| |---|---|---|---| |||**Unrestricted**|Total| |||**fund**|funds| ||Notes|**£**|£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies||**6,728**|23,692| |Other trading activities|2|**38,209**|18,082| |Investment income|3|**1**|-| |**Total**||**44,938**|41,774| |**EXPENDITURE ON**|||| |**Charitable activities**|||| |Teaching, playing and provision of facilities related to|||| |football||**35,384**|29,018| |**NET INCOME**||**9,554**|12,756| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward||**33,696**|20,940| |**TOTAL FUNDS CARRIED FORWARD**||**43,250**|33,696| The notes form part of these financial statements Page 4 ## **THE HORNCASTLE TOWN FOOTBALL CLUB LTD** ## **BALANCE SHEET 31 MAY 2022** |**2022**
**Unrestricted**
**fund**
Notes
**£**
**FIXED ASSETS**
Investments
7
**1**
**CURRENT ASSETS**
Debtors
8
**2,817**
Cash at bank
**40,847**
**43,664**
**CREDITORS**
Amounts falling due within one year
9
**(415)**
**NET CURRENT ASSETS**
**43,249**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**43,250**
**NET ASSETS**
**43,250**
**FUNDS**
10
Unrestricted funds
**43,250**
**TOTAL FUNDS**
**43,250**|2021
Total
funds
£
1
723
35,210
35,933
(2,238)
33,695
33,696
33,696
33,696
33,696| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006. ## The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (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. 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 28 September 2022 and were signed on its behalf by: I Mellor - Trustee The notes form part of these financial statements Page 5 **THE HORNCASTLE TOWN FOOTBALL CLUB LTD** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022** ## **1. ACCOUNTING POLICIES** ## **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, with the exception of investments which are included at market value. The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## **Preparation of consolidated financial statements** The financial statements contain information about The Horncastle Town Football Club Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. ## **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. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. OTHER TRADING ACTIVITIES** |**OTHER TRADING ACTIVITIES**||| |---|---|---| |Fundraising events
Sponsorships
Junior team subs, membership and training
Fines
Adult memberships
Sundry income|**2022**
**£**
**10,034**
**3,480**
**15,516**
**1,956**
**-**
**7,223**
**38,209**|2021
£
-
3,621
7,877
493
390
5,701| |||18,082| Page 6 continued... **THE HORNCASTLE TOWN FOOTBALL CLUB LTD** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022** ## **3. INVESTMENT INCOME** |**INVESTMENT INCOME**||| |---|---|---| ||**2022**|2021| ||**£**|£| |Deposit account interest|**1**|-| |**NET INCOME/(EXPENDITURE)**||| |Net income/(expenditure) is stated after charging/(crediting):||| ||**2022**|2021| ||**£**|£| |Other operating leases|**600**|827| ## **4. NET INCOME/(EXPENDITURE)** ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 May 2022 nor for the year ended 31 May 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 May 2022 nor for the year ended 31 May 2021. ## **6. STAFF COSTS** The average number of employees was 0. ## **7. FIXED ASSET INVESTMENTS** |**FIXED ASSET INVESTMENTS**|| |---|---| ||Shares in| ||group| ||undertakings| ||£| |**MARKET VALUE**|| |At 1 June 2021 and 31 May 2022|**1**| |**NET BOOK VALUE**|| |At 31 May 2022|**1**| |At 31 May 2021|1| There were no investment assets outside the UK. The company's investments at the balance sheet date in the share capital of companies include the following: 100% of the Ordinary A shares in Horncastle Town FC Trading Ltd (nature of business: bar sales). The aggregate capital and reserves of Horncastle Town FC Trading Ltd was £52 (2021 - £237) and loss for the year was £185 (2021 - £115). ## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ||**2022**|2021| |---|---|---| ||**£**|£| |Amounts owed by group undertakings|**2,817**|723| continued... Page 7 **THE HORNCASTLE TOWN FOOTBALL CLUB LTD** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022** ## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**9.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||| |---|---|---|---|---| ||||**2022**|2021| ||||**£**|£| ||Accruals and deferred income||**415**|2,238| |**10.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1.6.21|in funds|31.5.22| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|**33,696**|**9,554**|**43,250**| ||**TOTAL FUNDS**|**33,696**|**9,554**|**43,250**| ||Net movement in funds, included in the above are as follows:|||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|**44,938**|**(35,384)**|**9,554**| ||**TOTAL FUNDS**|**44,938**|**(35,384)**|**9,554**| ||**Comparatives for movement in funds**|||| ||||Net|| ||||movement|At| |||At 1.6.20|in funds|31.5.21| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|20,940|12,756|33,696| ||**TOTAL FUNDS**|20,940|12,756|33,696| ||Comparative net movement in funds, included in the above are as follows:|||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|41,774|(29,018)|12,756| ||**TOTAL FUNDS**|41,774|(29,018)|12,756| continued... Page 8 **THE HORNCASTLE TOWN FOOTBALL CLUB LTD** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022** ## **10. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|At| ||At 1.6.20|in funds|31.5.22| ||£|£|£| |**Unrestricted funds**|||| |General fund|20,940|22,310|43,250| |**TOTAL FUNDS**|20,940|22,310|43,250| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|86,712|(64,402)|22,310| |**TOTAL FUNDS**|86,712|(64,402)|22,310| ## **11. RELATED PARTY DISCLOSURES** The charity's wholly-owned subsidiary, Horncastle Town FC Trading Ltd, made a donation in the year to the charity of £3,593 (2021 - £18,915). Page 9 **THE HORNCASTLE TOWN FOOTBALL CLUB LTD** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2022** ||2022|2021| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|**6,728**|18,915| |Grants|**-**|4,777| ||**6,728**|23,692| |**Other trading activities**||| |Fundraising events|**10,034**|-| |Sponsorships|**3,480**|3,621| |Junior team subs, membership and training|**15,516**|7,877| |Fines|**1,956**|493| |Adult memberships|**-**|390| |Sundry income|**7,223**|5,701| ||**38,209**|18,082| |**Investment income**||| |Deposit account interest|**1**|-| |**Total incoming resources**|**44,938**|41,774| |**EXPENDITURE**||| |**Charitable activities**||| |Other operating leases|**600**|827| |Rates and water|**742**|167| |Insurance|**2,076**|2,398| |Light and heat|**6,223**|4,292| |Telephone|**812**|645| |Advertising|**330**|480| |Sundries|**785**|547| |Officials' fees|**1,795**|1,081| |Astro pitch use|**4,840**|410| |Fines paid|**890**|1,153| |Affiliation fees|**2,936**|161| |Trophies|**66**|-| |Kit purchases|**6,116**|5,716| |Repairs and renewals|**3,410**|8,688| |Laundry|**2,980**|520| |Coaching courses / fees|**280**|-| ||**34,881**|27,085| |**Support costs**||| |**Governance costs**||| |Accountancy|**503**|433| |Legal and professional fees|**-**|1,500| ||**503**|1,933| |Total resources expended|**35,384**|29,018| |**Net income**|**9,554**|12,756| This page does not form part of the statutory financial statements Page 10