Folkestone Rugby Football Club CIO Charity No. 1171276
ANNUAL REPORT FOR THE YEAR ENDED 30[TH] JUNE 2021
Introduction
This report focuses on the development of Folkestone Rugby Club (also referred to as “the Club”) as a Charity from 1[st] July 2020 until 30[th] June 2021, incorporating the financial report for this period.
Trustees
Many of the trustees of the Charity are appointed from the Executive Committee which manages the operations pertaining to the Club’s objectives. Trustees are appointed annually and are eligible for re-election at each AGM and at which point new trustees may also be appointed. There are several non-executive trustees whose role is to monitor the activities of the Executive Committee and ensure compliance with the objectives of the Club.
All trustees give of their time freely and no trustee receives remuneration for their endeavours. Trustees are required to disclose all relevant interests and register them with the Executive Committee and in accordance with the Trust’s constitution, withdraw from decisions where a conflict of interest arises.
Executive Trustees
Steve Cribbens - President Garry Finnis – Chairman Glenn Foreman – Vice Chairman Liza Cayley – Hon. Treasurer Roger Smith– Hon. Secretary Alex Ruddock Michael Gardner
Non-Executive Trustees
Andrew Dagger Andrew Parmenter Mark Edwards Kenneth Lennon
Principal Office
Folkestone Rugby Club Newington Folkestone Kent CT18 8BH
Independent Examiner
Ms. A Simmonds AAT Young’s Accountancy Services Ltd The Street, Hawkinge, Folkestone, KENT CT18 7DD
Bank
NatWest Bank, Europa House, 49 Sandgate Rd, Folkestone CT20 1RU
During the financial year several changes occurred to the membership of the Executive Committee and, consequently, to the Trustees.
Kenneth Lennon relinquished the Hon. Secretary role but remains a Trustee. Roger Smith was appointed as Hon. Secretary and was also appointed as a Trustee.
Governance
Folkestone Rugby Football Club operates under its constitution as a registered Charitable Incorporated Organisation.
Day to day management of the Club is the responsibility of the Executive Committee which meets regularly, at least every 2 months. The Executive Committee is overseen by the Board of Trustees, which meets regularly and at least quarterly through the year.
The objects of the Club
i) To promote community participation in healthy recreation by providing facilities for playing rugby union football and other sports ("facilities" means land, buildings, equipment and organising sporting activities);
ii) To provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life; and to advance the education of children and young people through such means as the Trustees think fit in accordance with the law of charity.
Folkestone Rugby Club was registered as a Charity on 24[th] January 2017.
The Charity assumed responsibility for playing and supporting rugby - it collects membership subscriptions from senior and junior players plus supporters and provides suitable facilities & pitches for training & games. The trading company “Folkestone Rugby Club Limited” currently owns and operates the clubhouse including the bar, hall hire and events. Profits from the trading company are be donated to the charity.
Summary of Activities 2020/21
Following the successful 2019/20 season, there followed a period of relative inactivity due to Covid. Playing activity was limited to carefully controlled and monitored training structures throughout the Club for both male and female players. Most frustrating was the continuing restrictions on League matches, preventing our 1[st] XV from taking advantage of the previous season’s promotion to London S E League 2. During this period, Covid continued to restrict many Club fund-raising activities, but due to continued commitment from members and prudent management of the finances by the Treasurer and management team, the Club came out of the crisis in a healthy position with a positive outlook for the next season when hopefully play would be resumed.
Garry Finnis presented his final report as Club Chairman, reflecting on this role plus his previous positions as Coaching Coordinator, Youth Coach, Youth Chair and Vice Chairman. The decision to stand down had been a very difficult decision to make, but he felt that the time was right to hand the Club to a new team to take us to the next level.
He stated that we have become a far stronger Club, and our management of the Covid situation had been more than excellent, with so many members contributing to the overall survival of Folkestone Rugby Club. In particular, the streamlining and prioritising of our financial commitments into manageable packages, and being alert to funding opportunities, has strengthened the Club’s position.
Garry praised the work of the Executive Committee, Trustees, Youth Committee, Players, and all others who have contributed to the continuing survival of the Club both on and off the playing field and in particular, the key positions of Treasurer, Liza Cayley and Safeguarding Officer, Marina Uden, both of whom will be standing down at the end of this season. A special mention was also made for Glenn Foreman’s continued commitment to the
maintenance of the premises and grounds with the tremendous support of his team of volunteers.
Playing Rugby
As stated previously, the playing of competitive rugby during the period was virtually nonexistent so there is great appreciation for the continued commitment of all coaches and players throughout the Club.
Membership
The continued support from the non-playing membership is much appreciated, the commitment of all members and especially players, in maintaining their subscription payments during those trying times.
Revenue
The Club is now financially secure and in a strong position, however this will be difficult to maintain without a sensible recognition of the consistent rises in cost in most areas. The Treasurer pointed out the stable position exists despite the covid period due to the decisions to make cost reductions where appropriate and gain supportive agreements from some of our suppliers and in part from the already mentioned continued support through membership subscriptions.
To maintain our current level of financial stability, we must recognise this point moving forward. We have protected our membership subscriptions for the last five years, and with the return to match play and optimum operational levels, this must now be reviewed at all levels and brought in line with other local Clubs.
All membership subscriptions are now paid into the charity account and our liability for Corporation Tax has been reduced. The reserves in the Charity Account are donations towards the ongoing Lift project and sponsorship from Unilever towards Mini/Youth Rugby.
The Club has made its first successful submission for Gift Aid following generous donations from members towards the Lift Project. It is our hope to reap further rewards from this vital area of charitable status in the coming years.
Developments
It is the intention of the Executive Committee and Trustees to strengthen and further develop support through sponsorship for the Club, an area which we hope will produce greater rewards for both sponsors and Club in the coming years.
It is all credit that despite reduced income levels from trading, the Club has been able to maintain and develop the safety and emergency systems and to continue the repair and maintenance of the fabric of the premises and grounds.
As well as the general maintenance, it is of particular note that the Memorial Garden was completed and officially opened in June 2021 following the work of volunteers and local businesses.
Whilst this report in principle, covers the period 1[st] July 2020 to 30[th] June 2021, in compliance with requirements under Charity Status, it is the aim of the Executive Committee and Trustees to align the scheduling of Annual General Meetings with the accounting year by scheduling the next AGM for October 2022.
The Trustees are responsible for preparing an annual report and financial statements in accordance with applicable law and United Kingdom Accounting standards which give a true and fair view of the situation of the charity.
In preparing the financial statements the trustees are required to keep proper accounting records that disclose the financial position of the charity with reasonable accuracy, at any time.
On behalf of the trustees
K Lennon Trustee April 2022
Company Registration No. CE008900 Charity Registration No. 1171276 (England and Wales)
FOLKESTONE RUGBY FOOTBALL CLUB CIO ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
Doc ID: 217fca0c996d1cc104320a705952f8d34c77d438
FOLKESTONE RUGBY FOOTBALL CLUB CIO
ANNUAL REPORT AND FINANCIAL STATEMENTS CONTENTS
Page Reference and Administrative details 3 Trustee’ Report 4 Statement of Trustee’ Responsibilities 5 Independent Examiners Report 6 Statement of Financial Activities 7 Balance Sheet 8 Notes to the Financial Activities 9-12 Detailed Statement of Financial Activities 13
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
REFERENCE AND ADMINISTRATIVE DETAILS
Chairman Mr Gary Finnis – Appointed 2[nd] May 2019 Trustee Ms Liza Cayley – Appointed 24th August 2020 Mr Steve Cribbens – Appointed 01st January 2020 – Mr Gary Finnis Appointed 02nd May 2019 – Mr Michael Gary Gardner Appointed 01st April 2019 Mr Kenneth Lennon – Appointed 24thJanuary 2017 Mr Glenn David Foreman – Appointed 24[th] January 2017 Mr Alexander Dennis Ruddock - Appointed 24[th] January 2017 Mr Roger Smith - Appointed 22[nd] September 2021 Mr Andrew Martin Piper Parmenter - Appointed 24[th] January 2017 Mr Andrew Nicholas Philip Dagger - Appointed 24[th] January 2017 Mr Mark Alan Edwards - Appointed 24[th] January 2017 Principal Office Folkestone Rugby Club New Burlington Field Bargrove Folkestone Kent CT18 8BH Company Registration No. CE008900 Charity Registration No. 1171276 Independent Examiner A Simmonds, AAT
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
TRUSTEE REPORT
The Trustee, who are directors for the purpose of company law, present the annual report with the financial statements and auditors report of the charitable company for the period ended 30 June 2021
Structure, governance and management Nature of governing document
CIO is governed by its constitution which has been duly lodged with the Charities Commission and is available from the Club Secretary.
The annual report was approved by the Trustee of the charity on 24 March 2022 and signed on its behalf by:
………………………. Mr Roger Smith Trustee
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
STATEMENT OF TRUSTEE RESPONSIBILITIES
The Trustee who are also the directors of Folkestone Rugby Club CIO for the purposes of company law are responsible for preparing the Trustee report and the financial statements with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the Trustee to prepare financial statements for each financial period. Under company law the Trustee must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustee are required to:
Select suitable accounting policies and apply them consistently
Observe the methods and principles in the charities SORP.
Make judgements and estimates that are reasonable and prudent
State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
The Trustee are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable companies transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and 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.
The annual report was approved by the Trustee of the charity on 24 March 2022 and signed on its behalf by:
………………………..
Mr Roger Smith Trustee
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
INDEPENDENT EXAMINERS REPORT
Responsibilities and basis of report
I report to the Trustees on my examination of the accounts of the above charity Folkestone Rugby Football Club CIO for the year ended 30[th] June 2021.
As the charity's Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”) and the Companies Act 2006.
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Charities 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 confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord 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 any 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.
Alison Simmonds
24/ 03/ 2022
……………………….. ………………………..
Ms A Simmonds Date Independent Examiner
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income and Endowments from: | ||
| Donations and Legacies | 53623 | 38138 |
| Other Activities | 41641 | 20334 |
| Total Income | 95264 | 58472 |
| Expenditure on: | ||
| Charitable activities | (18323) | (21069) |
| Total Expenditure | (18323) | (21069) |
| Net Income | 76941 | 37403 |
| Total Funds carried forward | 76941 | 37403 |
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
BALANCE SHEET
FOR THE YEAR ENDED 30 JUNE 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Current assets | ||
| Debtors | 85690 | 37403 |
| Cash at bank and in hand | 40337 | 12573 |
| Total Current Assets | 126027 | 49976 |
| Creditors: amounts falling due within one year | (0) | (890) |
| Net current assets | 126027 | 49086 |
| Net assets | 126027 | 49086 |
| Capital and reserves | ||
| Profit and loss account | 126027 | 49086 |
| Total Funds | 126027 | 49086 |
The financial statements on pages 7 to 13 were approved by the Trustee, and authorised for issue on the 24 March 2022 and signed on their behalf by
………………………..
Mr Roger Smith Trustee
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
NOTES
FOR THE YEAR ENDED 30 JUNE 2021
1. Statutory information
Folkestone Rugby Football Club CIO is a charity, limited by shares, registered in England and Wales. The registered office and principal place of business is Folkestone Rugby Club, New Burlington Field, Bargrove, Folkestone, Kent, CT18 8BH.
2. Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared in accordance with 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 2015 Charities SORP FRS 102. The Reporting Standard applicable in the UK and Republic of Ireland (FRS102). These statements also comply with the Companies Act 2006 and Charities Act 2011.
Folkestone Rugby Football Club CIO meets the definition of a public benefit entity under FRS 102. The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The statements are presented in £ sterling.
The Trustee considers that there are no material uncertainties about the charities ability to continue as a going concern nor any areas of uncertainty that's affect the carrying value of assets held by the charity.
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cashflow statement in these financial statements.
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and Legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, income is deferred and not recognised until either those conditions are fully met, or fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period
Legacy gifts are recognised on a case-by-case basis following the grant of probate when the administrator or executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the Grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
NOTES
FOR THE YEAR ENDED 30 JUNE 2021
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregates similar costs to that category. Where costs cannot be directly attributed to a particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the assets used. Other support costs allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in Trading activities that raise funds.
Governance costs
These include the costs attributable to the charities compliance with constitutional and statutory requirements, including audit, strategic management and Trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the test set out in Paragraph 1, Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3, Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Trade debtors
Trade debtors are amounts due from customer's for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is an objective evidence that the charity will not be able to collect all amounts due the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference being the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of financial activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classed as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date.
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets as the rate ruling at the balance sheet date.
Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
NOTES
FOR THE YEAR ENDED 30 JUNE 2021
Other exchange differences are recognised in the statement of financial activities in the period in which they rise except for:
Exchange differences on transactions entered into a head certain foreign currency risks (see above).
Exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income and
In the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned more likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.
Fund Structure
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.
3. Income from donations and legacies
| Donations & legacies from individuals Grants from other entities Regular giving and capital donations |
2021 £ 2530.95 31999.63 19092.75 53623.33 |
2020 £ 7443.14 14128.50 16566.58 |
|---|---|---|
| 38138 |
4. Income from trading activities
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Other events income | 4896.45 | 0.00 |
| 100 Club net receipts | 4945.02 | 4895.00 |
| Sponsorship | 15000.00 | 15439.10 |
| Services | 16800.00 | 0.00 |
| 41641.47 | 20334.10 |
5. Taxation
The Charity is a registered charity and is therefore exempt from taxation.
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
----- Start of picture text -----
6. Debtors: due within one year
2021 2020
£ £
Debtors 68890 37403
Other Debtors 16800 0
85690 37403
7. Creditors: due within one year
2021 2020
£ £
Creditors 0 890
0 890
8. Funds
2021 2020
£ £
General Funds 126027 49086
126027 49086
9. Analysis of net assets between funds
2021 2020
£ £
Current Assets 126027 49976
Current Liabilities 0 -890
126027 49086
10. Net Funds
2021 2020
£ £
Cash at bank and in hand 40337 12573
40337 12573
----- End of picture text -----
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2021
| Turnover Donations and legacies Other activities Cost of Sales Fundraising Costs Gross Profit Expenses Rates and water Light and heat House and ground maintenance Coaching/training costs Physio and support costs Referee and affiliation costs Travelling costs Festival and competition fees Playing and training kit Misc. playing expenses Catering costs Pitch maintenance Office expenses Professional Fees |
2021 £ 53623 41641 95264 0 95264 0 0 1300 323 1676 0 0 0 392 1431 1336 0 5565 6300 |
2020 £ 38138 20334 |
|---|---|---|
| 58472 | ||
| 0 | ||
| 58472 | ||
| 178 3511 3170 4520 627 650 1336 816 1880 1362 2178 841 0 0 |
||
| 76941 | 37403 |
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Audit trail
TITLE Annual Accounts FILE NAME FRFC CIO Final 30.06.2021.pdf DOCUMENT ID 217fca0c996d1cc104320a705952f8d34c77d438 AUDIT TRAIL DATE FORMAT DD / MM / YYYY STATUS Signed
21 / 03 / 2022 Sent for signature to Roger Smith (rogercsmith3@gmail.com) 20:26:02 UTC from contactyoungstoday@gmail.com IP: 2.123.1.30 22 / 03 / 2022 Viewed by Roger Smith (rogercsmith3@gmail.com) 09:06:56 UTC IP: 81.159.211.62 22 / 03 / 2022 Successfully authenticated via signer access code by 09:07:14 UTC rogercsmith3@gmail.com IP: 81.159.211.62 22 / 03 / 2022 Signed by Roger Smith (rogercsmith3@gmail.com) 09:09:15 UTC IP: 81.159.211.62 22 / 03 / 2022 The document has been completed. 09:09:15 UTC
Company Registration No. CE008900 Charity Registration No. 1171276 (England and Wales)
FOLKESTONE RUGBY FOOTBALL CLUB CIO ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
Doc ID: 217fca0c996d1cc104320a705952f8d34c77d438
FOLKESTONE RUGBY FOOTBALL CLUB CIO
ANNUAL REPORT AND FINANCIAL STATEMENTS CONTENTS
Page Reference and Administrative details 3 Trustee’ Report 4 Statement of Trustee’ Responsibilities 5 Independent Examiners Report 6 Statement of Financial Activities 7 Balance Sheet 8 Notes to the Financial Activities 9-12 Detailed Statement of Financial Activities 13
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
REFERENCE AND ADMINISTRATIVE DETAILS
Chairman Mr Gary Finnis – Appointed 2[nd] May 2019 Trustee Ms Liza Cayley – Appointed 24th August 2020 Mr Steve Cribbens – Appointed 01st January 2020 – Mr Gary Finnis Appointed 02nd May 2019 – Mr Michael Gary Gardner Appointed 01st April 2019 Mr Kenneth Lennon – Appointed 24thJanuary 2017 Mr Glenn David Foreman – Appointed 24[th] January 2017 Mr Alexander Dennis Ruddock - Appointed 24[th] January 2017 Mr Roger Smith - Appointed 22[nd] September 2021 Mr Andrew Martin Piper Parmenter - Appointed 24[th] January 2017 Mr Andrew Nicholas Philip Dagger - Appointed 24[th] January 2017 Mr Mark Alan Edwards - Appointed 24[th] January 2017 Principal Office Folkestone Rugby Club New Burlington Field Bargrove Folkestone Kent CT18 8BH Company Registration No. CE008900 Charity Registration No. 1171276 Independent Examiner A Simmonds, AAT
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
TRUSTEE REPORT
The Trustee, who are directors for the purpose of company law, present the annual report with the financial statements and auditors report of the charitable company for the period ended 30 June 2021
Structure, governance and management Nature of governing document
CIO is governed by its constitution which has been duly lodged with the Charities Commission and is available from the Club Secretary.
The annual report was approved by the Trustee of the charity on 24 March 2022 and signed on its behalf by:
………………………. Mr Roger Smith Trustee
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
STATEMENT OF TRUSTEE RESPONSIBILITIES
The Trustee who are also the directors of Folkestone Rugby Club CIO for the purposes of company law are responsible for preparing the Trustee report and the financial statements with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the Trustee to prepare financial statements for each financial period. Under company law the Trustee must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustee are required to:
Select suitable accounting policies and apply them consistently
Observe the methods and principles in the charities SORP.
Make judgements and estimates that are reasonable and prudent
State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
The Trustee are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable companies transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and 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.
The annual report was approved by the Trustee of the charity on 24 March 2022 and signed on its behalf by:
………………………..
Mr Roger Smith Trustee
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
INDEPENDENT EXAMINERS REPORT
Responsibilities and basis of report
I report to the Trustees on my examination of the accounts of the above charity Folkestone Rugby Football Club CIO for the year ended 30[th] June 2021.
As the charity's Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”) and the Companies Act 2006.
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Charities 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 confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord 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 any 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.
Alison Simmonds
24/ 03/ 2022
……………………….. ………………………..
Ms A Simmonds Date Independent Examiner
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income and Endowments from: | ||
| Donations and Legacies | 53623 | 38138 |
| Other Activities | 41641 | 20334 |
| Total Income | 95264 | 58472 |
| Expenditure on: | ||
| Charitable activities | (18323) | (21069) |
| Total Expenditure | (18323) | (21069) |
| Net Income | 76941 | 37403 |
| Total Funds carried forward | 76941 | 37403 |
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FOLKESTONE RUGBY FOOTBALL CLUB CIO
BALANCE SHEET
FOR THE YEAR ENDED 30 JUNE 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Current assets | ||
| Debtors | 85690 | 37403 |
| Cash at bank and in hand | 40337 | 12573 |
| Total Current Assets | 126027 | 49976 |
| Creditors: amounts falling due within one year | (0) | (890) |
| Net current assets | 126027 | 49086 |
| Net assets | 126027 | 49086 |
| Capital and reserves | ||
| Profit and loss account | 126027 | 49086 |
| Total Funds | 126027 | 49086 |
The financial statements on pages 7 to 13 were approved by the Trustee, and authorised for issue on the 24 March 2022 and signed on their behalf by
………………………..
Mr Roger Smith Trustee
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Doc ID: 217fca0c996d1cc104320a705952f8d34c77d438
FOLKESTONE RUGBY FOOTBALL CLUB CIO
NOTES
FOR THE YEAR ENDED 30 JUNE 2021
1. Statutory information
Folkestone Rugby Football Club CIO is a charity, limited by shares, registered in England and Wales. The registered office and principal place of business is Folkestone Rugby Club, New Burlington Field, Bargrove, Folkestone, Kent, CT18 8BH.
2. Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared in accordance with 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 2015 Charities SORP FRS 102. The Reporting Standard applicable in the UK and Republic of Ireland (FRS102). These statements also comply with the Companies Act 2006 and Charities Act 2011.
Folkestone Rugby Football Club CIO meets the definition of a public benefit entity under FRS 102. The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The statements are presented in £ sterling.
The Trustee considers that there are no material uncertainties about the charities ability to continue as a going concern nor any areas of uncertainty that's affect the carrying value of assets held by the charity.
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cashflow statement in these financial statements.
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and Legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, income is deferred and not recognised until either those conditions are fully met, or fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period
Legacy gifts are recognised on a case-by-case basis following the grant of probate when the administrator or executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the Grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
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Doc ID: 217fca0c996d1cc104320a705952f8d34c77d438
FOLKESTONE RUGBY FOOTBALL CLUB CIO
NOTES
FOR THE YEAR ENDED 30 JUNE 2021
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregates similar costs to that category. Where costs cannot be directly attributed to a particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the assets used. Other support costs allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in Trading activities that raise funds.
Governance costs
These include the costs attributable to the charities compliance with constitutional and statutory requirements, including audit, strategic management and Trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the test set out in Paragraph 1, Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3, Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Trade debtors
Trade debtors are amounts due from customer's for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is an objective evidence that the charity will not be able to collect all amounts due the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference being the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of financial activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classed as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date.
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets as the rate ruling at the balance sheet date.
Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
Page 10 of 13
Doc ID: 217fca0c996d1cc104320a705952f8d34c77d438
FOLKESTONE RUGBY FOOTBALL CLUB CIO
NOTES
FOR THE YEAR ENDED 30 JUNE 2021
Other exchange differences are recognised in the statement of financial activities in the period in which they rise except for:
Exchange differences on transactions entered into a head certain foreign currency risks (see above).
Exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income and
In the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned more likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.
Fund Structure
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.
3. Income from donations and legacies
| Donations & legacies from individuals Grants from other entities Regular giving and capital donations |
2021 £ 2530.95 31999.63 19092.75 53623.33 |
2020 £ 7443.14 14128.50 16566.58 |
|---|---|---|
| 38138 |
4. Income from trading activities
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Other events income | 4896.45 | 0.00 |
| 100 Club net receipts | 4945.02 | 4895.00 |
| Sponsorship | 15000.00 | 15439.10 |
| Services | 16800.00 | 0.00 |
| 41641.47 | 20334.10 |
5. Taxation
The Charity is a registered charity and is therefore exempt from taxation.
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Doc ID: 217fca0c996d1cc104320a705952f8d34c77d438
FOLKESTONE RUGBY FOOTBALL CLUB CIO
----- Start of picture text -----
6. Debtors: due within one year
2021 2020
£ £
Debtors 68890 37403
Other Debtors 16800 0
85690 37403
7. Creditors: due within one year
2021 2020
£ £
Creditors 0 890
0 890
8. Funds
2021 2020
£ £
General Funds 126027 49086
126027 49086
9. Analysis of net assets between funds
2021 2020
£ £
Current Assets 126027 49976
Current Liabilities 0 -890
126027 49086
10. Net Funds
2021 2020
£ £
Cash at bank and in hand 40337 12573
40337 12573
----- End of picture text -----
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Doc ID: 217fca0c996d1cc104320a705952f8d34c77d438
FOLKESTONE RUGBY FOOTBALL CLUB CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2021
| Turnover Donations and legacies Other activities Cost of Sales Fundraising Costs Gross Profit Expenses Rates and water Light and heat House and ground maintenance Coaching/training costs Physio and support costs Referee and affiliation costs Travelling costs Festival and competition fees Playing and training kit Misc. playing expenses Catering costs Pitch maintenance Office expenses Professional Fees |
2021 £ 53623 41641 95264 0 95264 0 0 1300 323 1676 0 0 0 392 1431 1336 0 5565 6300 |
2020 £ 38138 20334 |
|---|---|---|
| 58472 | ||
| 0 | ||
| 58472 | ||
| 178 3511 3170 4520 627 650 1336 816 1880 1362 2178 841 0 0 |
||
| 76941 | 37403 |
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Doc ID: 217fca0c996d1cc104320a705952f8d34c77d438
Audit trail
TITLE Annual Accounts FILE NAME FRFC CIO Final 30.06.2021.pdf DOCUMENT ID 217fca0c996d1cc104320a705952f8d34c77d438 AUDIT TRAIL DATE FORMAT DD / MM / YYYY STATUS Signed
21 / 03 / 2022 Sent for signature to Roger Smith (rogercsmith3@gmail.com) 20:26:02 UTC from contactyoungstoday@gmail.com IP: 2.123.1.30 22 / 03 / 2022 Viewed by Roger Smith (rogercsmith3@gmail.com) 09:06:56 UTC IP: 81.159.211.62 22 / 03 / 2022 Successfully authenticated via signer access code by 09:07:14 UTC rogercsmith3@gmail.com IP: 81.159.211.62 22 / 03 / 2022 Signed by Roger Smith (rogercsmith3@gmail.com) 09:09:15 UTC IP: 81.159.211.62 22 / 03 / 2022 The document has been completed. 09:09:15 UTC