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 2024
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 2024
| 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 2024
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 2024. 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
A very dry few weeks followed the end of May 2023, and it was clear that something drastic had to be done with regard to the pitch maintenance regime. This resulted in the Club investing in an irrigation system, with a huge improvement clearly visible on all the pitches. August saw the Under 16 girls going to Wembley Stadium to receive the inaugural Lionesses Award. The Wildcats Programme has proved to be successful, providing the club with a new girls football team, and continues to provide a platform for girls to play. Fundraising events included a race night, a Santa fun run and the Christmas draw. The JB Sports BTEC course has continued with very few problems.
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 £59,497 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)
Registered Charity number
1164212
Page 1
THE HORNCASTLE TOWN FOOTBALL CLUB LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2024
Registered office
The Wong Horncastle Lincolnshire LN9 6EA
Trustees
P A Nagle (resigned 26.3.2024) C H Low J R Town (resigned 5.7.2023) L M Stephenson P M Johnson A N Cotton H D Johnson L Nickless Mrs N M Fawcett J P Kimber A Shinn I Mellor E Rawdon (appointed 2.10.2023)
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 4 November 2024 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 2024.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 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 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
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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
4 November 2024
Page 3
THE HORNCASTLE TOWN FOOTBALL CLUB LTD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 22,245 Other trading activities 2 64,518 Investment income 3 267 Total 87,030 EXPENDITURE ON Charitable activities Teaching, playing and provision of facilities related to football 84,538 NET INCOME 2,492 RECONCILIATION OF FUNDS Total funds brought forward 57,005 TOTAL FUNDS CARRIED FORWARD 59,497 |
2023 Total funds £ 42,257 64,476 82 |
|---|---|
| 106,815 | |
| 93,060 | |
| 13,755 43,250 |
|
| 57,005 |
The notes form part of these financial statements
Page 4
THE HORNCASTLE TOWN FOOTBALL CLUB LTD
BALANCE SHEET 31 MAY 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Intangible assets 7 395 Investments 8 1 396 CURRENT ASSETS Debtors 9 4,763 Cash at bank 54,798 59,561 CREDITORS Amounts falling due within one year 10 (460) NET CURRENT ASSETS 59,101 TOTAL ASSETS LESS CURRENT LIABILITIES 59,497 NET ASSETS 59,497 FUNDS 11 Unrestricted funds 59,497 TOTAL FUNDS 59,497 |
2023 Total funds £ - 1 1 2,296 55,169 57,465 (461) 57,004 57,005 57,005 57,005 57,005 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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 4 November 2024 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 2024
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 exemption 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 Sundry income |
2024 £ 15,626 2,650 35,363 612 10,267 64,518 |
2023 £ 17,023 12,007 21,342 771 13,333 |
| 64,476 |
Page 6
continued...
THE HORNCASTLE TOWN FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2024
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Deposit account interest | 267 | 82 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2024 | 2023 | |
| £ | £ | |
| Other operating leases | 600 | 600 |
| Computer software amortisation | 23 | - |
4. NET INCOME/(EXPENDITURE)
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2024 nor for the year ended 31 May 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023.
6. STAFF COSTS
The average number of employees was 0.
7. INTANGIBLE FIXED ASSETS
| Computer | |
|---|---|
| software | |
| £ | |
| COST | |
| Additions | 418 |
| AMORTISATION | |
| Charge for year | 23 |
| NET BOOK VALUE | |
| At 31 May 2024 | 395 |
| At 31 May 2023 | - |
| FIXED ASSET INVESTMENTS | |
| Shares in | |
| group | |
| undertakings | |
| £ | |
| MARKET VALUE | |
| At 1 June 2023 and 31 May 2024 | 1 |
| NET BOOK VALUE | |
| At 31 May 2024 | 1 |
| At 31 May 2023 | 1 |
8. FIXED ASSET INVESTMENTS
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:
continued...
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THE HORNCASTLE TOWN FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2024
8. FIXED ASSET INVESTMENTS - continued
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 £2,323 (2023 - £1,371) and profit / loss for the year was a profit of £952 in the current year (2023 - £1,319).
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Amounts owed by group undertakings | 4,763 | 2,296 | ||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Accruals and deferred income | 460 | 461 | ||
| 11. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.6.23 | in funds | 31.5.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 57,005 | 2,492 | 59,497 | |
| TOTAL FUNDS | 57,005 | 2,492 | 59,497 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 87,030 | (84,538) | 2,492 | |
| TOTAL FUNDS | 87,030 | (84,538) | 2,492 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.6.22 | in funds | 31.5.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 43,250 | 13,755 | 57,005 | |
| TOTAL FUNDS | 43,250 | 13,755 | 57,005 |
continued...
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THE HORNCASTLE TOWN FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2024
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 106,815 106,815 |
Resources Movement expended in funds £ £ (93,060) 13,755 (93,060) 13,755 |
Resources Movement expended in funds £ £ (93,060) 13,755 (93,060) 13,755 |
|---|---|---|---|
| 13,755 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.6.22 | in funds | 31.5.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 43,250 | 16,247 | 59,497 |
| TOTAL FUNDS | 43,250 | 16,247 | 59,497 |
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 | 193,845 | (177,598) | 16,247 |
| TOTAL FUNDS | 193,845 | (177,598) | 16,247 |
12. RELATED PARTY DISCLOSURES
The charity's wholly-owned subsidiary, Horncastle Town FC Trading Ltd, made a donation in the year to the charity of £20,086 (2023 - £17,166).
Page 9
THE HORNCASTLE TOWN FOOTBALL CLUB LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Other trading activities Fundraising events Sponsorships Junior team subs, membership and training Fines Sundry income Investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Other operating leases Rates and water Insurance Light and heat Telephone Advertising Sundries Officials' fees Astro pitch use Fines paid Affiliation fees Trophies Kit purchases Repairs and renewals Laundry Coaching courses / fees Donations Support costs Finance Amortisation of intangible fixed assets Governance costs Accountancy Total resources expended Net income |
2024 £ 20,086 2,159 22,245 15,626 2,650 35,363 612 10,267 64,518 267 87,030 600 5,232 2,943 9,936 1,064 591 3,387 5,230 8,071 240 3,454 3,387 2,328 30,232 4,515 641 1,998 83,849 23 666 84,538 2,492 |
2023 £ 17,166 25,091 |
|---|---|---|
| 42,257 17,023 12,007 21,342 771 13,333 |
||
| 64,476 82 |
||
| 106,815 600 1,136 2,452 10,927 961 230 1,268 3,349 5,771 1,530 1,810 3,773 2,454 52,524 2,370 840 600 |
||
| 92,595 - 465 |
||
| 93,060 | ||
| 13,755 |
This page does not form part of the statutory financial statements
Page 10