Bexhill Amateur Boxing Club Charity Number: 1171049
Bexhill Amateur Boxing Club
Charity No. 1171049
Trustees’ Report and Unaudited Accounts
31st March 2023
Bexhill Amateur Boxing Club Charity Number: 1171049
| Contents | |
|---|---|
| Trustees Annual Report | 3-4 |
| Independent Examiners Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8 to 12 |
Bexhill Amateur Boxing Club Charity Number: 1171049
Trustees Annual Report
Bexhill Amateur Boxing Club (BABC) has continued to operate in its usual capacity throughout the 2022 - 2023 financial year by providing low cost, accessible boxing and fitness opportunities to the local community. The club has kept membership and session costs at the same rate as previous years minimising any financial barriers those who wish to attend. An annual fee of £20 is requested, with session costs at £3 for those under 16 years, and £4 for those over 16 years.
The club remains affiliated with the sports’ national governing body England Boxing which ensures the club operates at the required standards set by the body (coaching standards, safeguarding etc.), which in turn enables the club access to competition under England Boxing rules alongside other affiliated clubs supported by England Boxing’s network of qualified officials.
The club has a consistent level of attendees throughout the sessions offered. Recreational boxing sessions available to those over 14 years off an entry point into the sport, or opportunities for those who do not wish to box competitively yet benefit from what the sport has to offer both mentally and physically. Junior boxing for those between 10 and 14 years offer the same route for younger newcomers to the sport, whilst carded / invited sessions are available for those 10 and over who have progressed and expressed a desire to compete within the sport competitively.
Interaction with fellow England Boxing clubs has continued through the 2022-23 financial year. This has included sparring / training sessions hosted by Bexhill for visiting clubs, with Bexhill also travelling to England Boxing clubs within the Southeast of England. Bexhill also hosted an evening of competitive amateur boxing in May ‘22 at a local community centre providing members of the competitive squad with the opportunity to compete in their hometown and showcase their skills and what the club has to offer. The event is well attended with over 250 spectators attending the event & contributing to the clubs' funds.
Toward the end of the competitive boxing season, the regular end of season award ceremony was hosted at the boxing club’s premises. Members, volunteers, parents and carers were in attendance to share in the success of recognised individuals, and the club's achievements. A further social event is held at the club for Christmas enabling a sense of community for those in attendance.
To maintain visibility continual engagement with the community is achieved through social media platforms, predominantly Instagram and Facebook. Time is invested to ensure that the services offered by the club remain visible alongside other organisations that may offer similar less affordable / accessible offerings.
As per the 2021-2022 commentary, the club has maintained a focus on a vision of further improving and extending the premises. This is a significant project that requires an initial investment from the club to cover planning activities prior to seeking significant funding for the main project. Initial steps have been taken to drive this forward, such as engaging the architect and initial drawings being obtained etc. Funds were raised towards these costs by a volunteer coach participating in a local half marathon.
Procuring additional funding and achieving our aim of extending the premises will provide great opportunities for the club, and the community. The extended premises will enable the club to amend the structure of training sessions allowing both ‘beginner’ and experienced boxers to interact providing the benefits of newcomers to the sport being able to visualise what they can achieve - due to the current space these sessions need to operate independently. If adopted this approach also provides time for other sessions to operate providing opportunities to increase the club's reach - this could include ladies-only boxing, fitness classes for various ages, and enabling the space to be used for other community-based activities at low cost.
Bexhill Boxing Club is in a unique position compared to similar organisations in that we have approximately 60 years leasehold remaining, and low expenditure which provides a secure platform to grow. Bexhill as a town is growing, with multiple large housing developments in the area. Bexhill Boxing Club's expansion would enable us to continue to provide accessible fitness opportunities in alignment with our charitable objectives as an alternative to other high-cost options.
The volunteer base supporting the club remains consistent, and strong with 4 volunteer committee members, and a team of 10 volunteer coaches providing their services. All of which are subject to the requirements of the sports’ governing body such as DBS checks, coaching, and first aid qualifications.
Bexhill Amateur Boxing Club Charity Number: 1171049
Financial Review
The charity's financial position at the end of the year ended 31 March 2023
At the close of the 2023 financial year, the club’s unrestricted funds totalled £10,267. During the year the club’s income totalled £20,244 from members with expenditure of £15,645 a net profit of £4,600.
Reserves Policy
BABC’s committee has agreed to hold approximately £5,000 in reserves. Any funds over that level will be used to invest into new equipment, or the maintenance of existing equipment as required.
Governing Document
The BABC continues to be controlled by its governing document, a constitution, and operates as a charitable incorporated organisation.
BABC also remains affiliated to the sport's national governing body - England Boxing and is therefore bound by its rules and regulations. Further information regarding England Boxing can be found at www.englandboxing.org.
The recruitment and appointment of new trustees.
Trustees are sought from the club’s members, volunteers and from the surrounding Bexhill area. Trustees are appointed by election of the committee.
Statement of trustees - responsibilities in relation to the financial statements.
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed.
The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity’s trustees:
R. Witcomb Trustee 07 December 2023
Bexhill Amateur Boxing Club Charity Number: 1171049
Independent Examiners Report
Independent Examiner's Report to the trustees of Bexhill Amateur Boxing Club
I report to the trustees on my examination of the financial statements of Bexhill Amateur Boxing Club for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
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the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 any other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the financial statements to be reached.
S J Perry LLB (Hons), ACMA, CGMA, FCII Chartered Management Accountant Knowle House 38 York Road York YO24 4LZ 07 December 2023
Bexhill Amateur Boxing Club Charity Number: 1171049
Statement of Financial Activities Year Ending 31[st] March 2023
| Statement of Financial Activities Year Ending 31st March 2023 |
|
|---|---|
| Current year Current year Current year Prior year |
|
| Notes | Unrestricte d funds Restricte d funds Total funds Total funds |
| 2023 2023 2023 2022 |
|
| £ £ £ £ |
|
| Income & Endowments from: | |
| Donations & Legacies 3 |
2,228 2,228 125 |
| Charitable Activities 4 |
18,016 18,016 12,086 |
| Total income | 20,244 20,244 12,211 |
| Expenditure | |
| Charitable Activities 5 |
765 765 5,010 |
| Other 6 |
14,880 14,880 15,101 |
| Total expenditure | 15,645 15,645 20,111 |
| Net income | 4,600 4,600 (7,900) |
| Transfers between funds | |
| Net income before other gains/(losses) |
4,600 4,600 (7,900) |
| Othergains and losses | |
| Net movement in funds | 4,600 4,600 (7,900) |
| Reconciliation of funds: | |
| Total funds brought forward | 5,667 5,667 13,567 |
| Total funds carried forward | 10,267 10,267 5,667 |
Bexhill Amateur Boxing Club Charity Number: 1171049
Balance Sheet as at 31 March 2023
| Balance Sheet as at 31 March 2023 | |||||
|---|---|---|---|---|---|
| 2023 £ |
2022 | ||||
| Notes | £ | ||||
| Current Assets | |||||
| Cash at Bank in hand | 11,390 | 9,017 | |||
| 11,390 | 9,017 | ||||
| Creditors: amounts falling due within oneyear | 8 | (1,123) | (3,350) | ||
| Net Current Assets | 10,267 | 5,667 | |||
| Total Assets less current liabilities | 10,267 | 5,667 | |||
| Total net assets | 10,267 | 5,667 | |||
| The funds of the charity | |||||
| Restricted funds | 10 10 |
||||
| Unrestricted funds | |||||
| General funds | 10,267 | 5,667 | |||
| 10,267 | 5,667 | ||||
| Reserves | 10 | ||||
| Total Funds | 10,267 | 5,667 |
Approved by the trustees on 07 Dec 2023 And signed on their behalf by:
R. Witcomb Trustee 07 December 2023
Bexhill Amateur Boxing Club Charity Number: 1171049
Notes to the Accounts
2 - Statement of Financial Activities - Prior Year
| Unrestricted | Prior Year | |
|---|---|---|
| Funds | Total funds |
|
| 2022 | 2022 | |
| £ | £ | |
| Income & Endowments from: | ||
| Donations & Legacies | 125 | 125 |
| Charitable Activities | 12,086 | 12,086 |
| Total income | 12,211 | 12,211 |
| Expenditure on: | ||
| Charitable Activities | 5,010 | 5,010 |
| Other | 15,101 | 15,101 |
| Total expenditure | 20,111 | 20,111 |
| Net gain on investments | - | - |
| Net income | (7,900) | (7,900) |
| Transfer between funds | - | - |
| Net income before othergains/(losses) | (7,900) | (7,900) |
| Other gains and losses | ||
| Net movement in funds | (7,900) | (7,900) |
| Reconciliation of funds: | ||
| Total funds brought forward | 13,567 | 13,567 |
| Total funds carried forward | 5,667 | 5,667 |
Bexhill Amateur Boxing Club Charity Number: 1171049
Expenditure
Recognition of expenditure Expenditure is recognised on an accrual’s basis.
Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
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Expenditure on raising funds These comprise the costs associated with attracting voluntary income, fundraising costs and investment management costs.
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Expenditure on charitable activities These comprise the costs incurred by the Charity in the delivery of its activities and services in the furtherance of its objects
including governance costs.
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Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
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Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
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Other expenditure These are support costs not allocated to a particular activity. Taxation The charity is exempt from tax on its charitable activities.
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Trade and other debtors
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Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
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Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, and bank overdrafts.
In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand.
- Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity
has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Bexhill Amateur Boxing Club Charity Number: 1171049
| 3. Income from Donations & Legacies |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricte | ||||||||||
| d | Total | Total | ||||||||
| 2023 | 2023 | 2022 | ||||||||
| £ | £ | £ | ||||||||
| Donations & Legacies | 2,228 | 2,228 | 125 | |||||||
| 2,228 | 2,228 | 125 | ||||||||
| 4. Income from charitable activities |
||||||||||
| Unrestricte | ||||||||||
| d | Total | Total | ||||||||
| 2023 | 2023 | 2022 | ||||||||
| £ | £ | £ | ||||||||
| Boxingclub activities | 18,016 | 18,016 | 12,086 | |||||||
| 18,016 | 18,016 | 12,086 | ||||||||
| 5. Expenditure on charitable activities |
||||||||||
| Unrestricte d |
Total | Total | ||||||||
| 2023 | 2023 | 2022 | ||||||||
| £ | £ | £ | ||||||||
| Direct Costs | ||||||||||
| Governance Costs | 340 | |||||||||
| Independent Examiner | 840 | |||||||||
| Accountancy | 1,123 | 1,123 | 3,000 | |||||||
| Event Costs | 486 | 486 | ||||||||
| 1,609 | 1,609 | 4,180 |
Bexhill Amateur Boxing Club Charity Number: 1171049
6. Other Expenditure
| 6. Other Expenditure | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricte d 2023 £ |
Total 2023 £ |
Total | |||||
| 2022 | |||||||
| £ | |||||||
| Motor & Travel Costs | 2,253 | 2,253 | 1,654 | ||||
| Premises Costs | 2,300 | 2,300 | 6,218 | ||||
| General Administrative Costs |
9,832 | 9,832 | 7,205 | ||||
| Legal & Professional Costs | 496 | 496 | 24 | ||||
| 14,880 | 14,880 | 15,101 |
7. Staff Costs
No employee received emoluments in excess of £60,000.
| 8. Creditors: | ||
|---|---|---|
| Amounts falling due within one year |
||
| 2023 | 2022 | |
| £ | £ | |
| Accruals | 1,123 | 3,350 |
| Total | 1,123 | 3,350 |
Bexhill Amateur Boxing Club Charity Number: 1171049
| 10. Movement in funds |
Incoming Resource |
Incoming Resource |
Resources Expended |
Resources Expended |
|||
|---|---|---|---|---|---|---|---|
| At 1 April 2022 |
At 31 March 2023 |
||||||
| £ | £ | £ | £ | ||||
| Restricted funds: | - | - | - | - | |||
| Unrestricted funds: | |||||||
| General funds | 5,667 | 20,244 | (15,645) | 10,267 | |||
| Total Funds | 5,667 | 20,244 | (15,645) | 10,267 |
| 11. Analysis of net assets between funds | |||
|---|---|---|---|
| Unrestricted | |||
| Funds 2023 |
Total 2023 |
||
| £ | £ | ||
| Net current assets | 10,267 | 10,267 | |
| 10,267 | 10,267 |