Registered number
1164222
Track Academy Charitable Incorporated Organisation
Report and Accounts
30 November 2022
**Track Academy Charitable Incorporated Organisation Registered number: 1164222 Trustees' report**
The trustees present their report and accounts for the year ended 30 November 2022.
## **Principal activities**
The company's principal activity during the year was a mentoring and education programme for young athletes.
## **Trustees**
The following persons served as trustees during the year:
D Manwani J Okafor S Mckoy M Adam P Ewe C Wilmot
This report was approved by the board on 31st March 2023 and signed on its behalf.
## C wilmot
C Wilmot Trustee
1
## **Track Academy Charitable Incorporated Organisation Independent Examiner's report**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to;
- examine the accounts under section 145 of the Charities Act
- to follow the procedures laid down in the general Directions given by the Charity Commission (under
- section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair' view and the report is limited to those matters set out in the statement below.
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect.
- that accounting records were not kept in accordance with section 130 of the Charities Act; or
- that accounts did not comply with the accounting records; or
* the accounts did 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 the 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 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.
Ashcroft Cameron Bookkeeping Limited 10[th] March 2023
6 The Mead Business Centre Mead Lane Hertford Herts SG13 7BJ
2
## **Track Academy Charitable Incorporated Organisation Profit and Loss Account for the year ended 30 November 2022**
||**2022**
**2021**|
|---|---|
|||
||**£**
**£**|
|||
|||
|**Income**|199,387
325,320|
|||
|||
|Cost of charitable events|(285,775)
(150,666)|
|||
|||
|**Gross surplus**|(86,388)
174,660|
|||
|||
|Administrative expenses|(14,341)
(15,194)|
|||
|||
|**Operating loss**|(100,729)
159,466|
|||
|||
|**Loss before taxation**|(100,729)
159,466|
|||
|||
|Tax on profit|-
-|
|||
|||
|**Surplus for the financial year**|(100,729)
159,466|
3
|**Track Academy Charitable Incorporated**
**Organisation Registered number:**
1164222
**Balance Sheet as at 30 November 2022**|**Track Academy Charitable Incorporated**
**Organisation Registered number:**
1164222
**Balance Sheet as at 30 November 2022**|
|---|---|
|**Notes**
**2022**
**2021**||
|**£**
**£**||
|**Fixed assets**||
|Tangible assets
2
999
0||
|
**Current assets**
Debtors
3
1,544
1,544||
|Cash at bank and in hand
206,176
307,872||
|207,720
309,416||
|**Creditors: amounts falling due within one**
**year**
4
(1,154)
(1,122)||
|**Net current assets**
206,566
308,294||
|**Net assets**
207,565
308.294||
|**Funds of the charity**||
|
Restricted funds carried forward
158,694
308,294||
|Unrestricted funds carried forward
48,871||
|The unrestricted costs are 4 months of
operation costs||
|operation costs||
|||
||207,565
308,294|
|**Total funds**||
4
**Track Academy Charitable Incorporated Organisation Notes to the Accounts**
**for the year ended 30 November 2022**
## **1 Accounting policies**
## _**Basis of preparation**_
The accounts have been prepared on a receipts and payments basis.
## _**Turnover**_
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services and grants received.
## _**Tangible fixed assets**_
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
## _**Debtors**_
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
## _**Creditors**_
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
## _**Reserves policy**_
The charity is working towards having 6 months unrestricted reserves.
## **2 Tangible fixed assets**
||**Plant**|
|---|---|
||**and**|
||**machine**|
||**ry**|
||**etc**|
||**£**|
|**Cost**||
|At 1 December 2021|_____ 5,118|
|Additions|_____ 1,249|
|At 30 November 2022|6,367|
|**Depreciation**||
|At 1 December 2021|5,118|
|Charge for the year|250|
|At 30 November 2022|5,368|
|**Net book value**||
|At 30 November 2021|0|
|At 30 November 2022|999|
5
**Track Academy Charitable Incorporated Organisation Notes to the Accounts**
|**3**|**Debtors**|**2022**
**2021**|
|---|---|---|
|||**£**
**£**|
||||
||||
||Other debtors|1,544
1,544|
||||
|||**2022**
**2021**|
||**Creditors: amounts falling due within one year**||
|||**£**
**£**|
||||
||||
||||
||Creditors|1,154
1,122|
## **Other information**
In 2021, Sport England invested £250,000 into the Back to Movement programme. £108,155 was expended in 2022 contributing to the deficit of £100,729.
Track Academy Charitable Incorporated Organisation is a charitable incorporated organisation.
## . **Signature:**
Claudia wilmot (May 15, 2023 09:47 GMT+1)
**Email:** claudia.wilmot@leadersinsport.com
6