REGISTERED COMPANY NUMBER: 09594221 (England and Wales) REGISTERED CHARITY NUMBER: 1166302
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
FOR
GRIMSBY AMATEUR BOXING CLUB LIMITED
GRIMSBY AMATEUR BOXING CLUB LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
| 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 |
GRIMSBY AMATEUR BOXING CLUB LIMITED (REGISTERED NUMBER: 09594221)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2021
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 2021. 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 promotion of community participation in healthy recreation in particular by the provision of facilities for community amateur boxing.
Public benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit and complied with section 17(5) of the 2011 Charities Act when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees/Directors consider how planned activities will contribute to the aims and objectives they have set.
Volunteers
The charity is solely dependant on a team of volunteers without whose commitment the charity could not operate. The value of services donated by volunteers is not included in the statement of financial activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Charity continues to aid the advancement of health through recreation for the community by meeting the needs of various groups and making the best use of the resources available to us.
During the year the boxing club has seen an increase in female members.
The trustees decided to re-arrange the layout of the gents changing and toilet area to incorporate a changing area and new toilet for female members and to install a hot water system in the gym.
FINANCIAL REVIEW
Reserves policy
The trustees monitor income and expenditure on a regular basis to ensure reserves are held at an adequate level.
FUTURE PLANS
The charity seeks to continue to maintain and develop its existing provision of facilities.
The trustees also decided to try to increase new members by beginning a yoga class once a week.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the Articles of Association adopted on 1 February 2016, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
09594221 (England and Wales)
Registered Charity number
1166302
Registered office
The Old Scouts Hut Ainslie Street GRIMSBY DN32 0LX
Trustees
Mr. K Blackett Mr M I Johnson (resigned 8.6.21) Mr D Morgan Mrs L Raworth Mr D Raworth
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GRIMSBY AMATEUR BOXING CLUB LIMITED (REGISTERED NUMBER: 09594221)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
C. M. Tams A.C.A. Smethurst & Co LLP 12 Abbey Road GRIMSBY DN32 0HL
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Grimsby Amateur Boxing Club Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those 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 in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mr D Raworth - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRIMSBY AMATEUR BOXING CLUB LIMITED (REGISTERED NUMBER: 09594221)
Independent examiner's report to the trustees of Grimsby Amateur Boxing Club Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2021.
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:
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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
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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.
C. M. Tams A.C.A. Smethurst & Co LLP 12 Abbey Road GRIMSBY DN32 0HL Date: .............................................
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GRIMSBY AMATEUR BOXING CLUB LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2021
| 31.5.21 | 31.5.20 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 450 | - | 450 | 910 | ||
| Charitable activities | ||||||
| Core | 30,308 | 11,347 | 41,655 | 5,898 | ||
| Other income | 50 | - | 50 | - | ||
| Total | 30,808 | 11,347 | 42,155 | 6,808 | ||
| EXPENDITURE ON | ||||||
| Charitable activities | ||||||
| Core | 18,548 | 8,975 | 27,523 | 7,533 | ||
| NET INCOME/(EXPENDITURE) | 12,260 | 2,372 | 14,632 | (725) | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 13,254 | - | 13,254 | 13,979 | ||
| TOTAL FUNDS CARRIED FORWARD | 25,514 | 2,372 | 27,886 | 13,254 |
The notes form part of these financial statements
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GRIMSBY AMATEUR BOXING CLUB LIMITED (REGISTERED NUMBER: 09594221)
BALANCE SHEET
31 MAY 2021
| 31.5.21 | 31.5.20 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible assets | 5 | 4,614 | - | 4,614 | 5,052 | |
| CURRENT ASSETS | ||||||
| Stocks | 6 | 150 | - | 150 | 150 | |
| Debtors | 7 | 2,814 | 2,372 | 5,186 | - | |
| Cash at bank and in hand | 18,404 | - | 18,404 | 8,514 | ||
| 21,368 | 2,372 | 23,740 | 8,664 | |||
| CREDITORS | ||||||
| Amounts falling due within one year | 8 | (468) | - | (468) | (462) | |
| NET CURRENT ASSETS | 20,900 | 2,372 | 23,272 | 8,202 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 25,514 | 2,372 | 27,886 | 13,254 | ||
| NET ASSETS | 25,514 | 2,372 | 27,886 | 13,254 | ||
| FUNDS | 9 | |||||
| Unrestricted funds | 25,514 | 13,254 | ||||
| Restricted funds | 2,372 | - | ||||
| TOTAL FUNDS | 27,886 | 13,254 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 ............................................. and were signed on its behalf by:
............................................. Mr D Raworth - Trustee
The notes form part of these financial statements
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GRIMSBY AMATEUR BOXING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
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.
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.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% Reducing Balance
The policy of the charitable company is to capitalise items costing in excess of £250.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.5.21 | 31.5.20 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 798 | 892 |
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GRIMSBY AMATEUR BOXING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2021
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2021 nor for the year ended 31 May 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2021 nor for the year ended 31 May 2020.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| fund | fund | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 910 | - | 910 | |
| Charitable activities | ||||
| Core | 5,898 | - | 5,898 | |
| Total | 6,808 | - | 6,808 | |
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Core | 7,533 | - | 7,533 | |
| NET INCOME/(EXPENDITURE) | (725) | - | (725) | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 13,979 | - | 13,979 | |
| TOTAL FUNDS CARRIED FORWARD | 13,254 | - | 13,254 | |
| 5. | TANGIBLE FIXED ASSETS | |||
| Fixtures | ||||
| and | ||||
| fittings | ||||
| £ | ||||
| COST | ||||
| At 1 June 2020 | 9,909 | |||
| Additions | 360 | |||
| At 31 May 2021 | 10,269 | |||
| DEPRECIATION | ||||
| At 1 June 2020 | 4,857 | |||
| Charge for year | 798 | |||
| At 31 May 2021 | 5,655 | |||
| NET BOOK VALUE | ||||
| At 31 May 2021 | 4,614 | |||
| At 31 May 2020 | 5,052 |
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GRIMSBY AMATEUR BOXING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2021
| 6. | STOCKS | ||||
|---|---|---|---|---|---|
| 31.5.21 | 31.5.20 | ||||
| £ | £ | ||||
| Stocks | 150 | 150 | |||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.5.21 | 31.5.20 | ||||
| £ | £ | ||||
| Other debtors | 5,186 | - | |||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.5.21 | 31.5.20 | ||||
| £ | £ | ||||
| Other creditors | 468 | 462 | |||
| 9. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.6.20 | in funds | 31.5.21 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 13,254 | 12,260 | 25,514 | ||
| Restricted funds | |||||
| Restricted | - | 2,372 | 2,372 | ||
| TOTAL FUNDS | 13,254 | 14,632 | 27,886 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 30,808 | (18,548) | 12,260 | ||
| Restricted funds | |||||
| Restricted | 11,347 | (8,975) | 2,372 | ||
| TOTAL FUNDS | 42,155 | (27,523) | 14,632 | ||
| Comparatives for movement in funds | |||||
| Net | |||||
| movement | At | ||||
| At 1.6.19 | in funds | 31.5.20 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 13,979 | (725) | 13,254 | ||
| TOTAL FUNDS | 13,979 | (725) | 13,254 |
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GRIMSBY AMATEUR BOXING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2021
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 6,808 | (7,533) | (725) |
| TOTAL FUNDS | 6,808 | (7,533) | (725) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.6.19 | in funds | 31.5.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 13,979 | 11,535 | 25,514 | |
| Restricted funds | ||||
| Restricted | - | 2,372 | 2,372 | |
| TOTAL FUNDS | 13,979 | 13,907 | 27,886 |
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 | 37,616 | (26,081) | 11,535 |
| Restricted funds | |||
| Restricted | 11,347 | (8,975) | 2,372 |
| TOTAL FUNDS | 48,963 | (35,056) | 13,907 |
Restricted funds are grants received from England Boxing for building maintenance.
10. RELATED PARTY DISCLOSURES
During the year the five trustees received £150 gift vouchers in recognition of the voluntary coaching they provided at the gym.
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