2021-01-31-accounts - Sports City Foundation

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Company Registration Number: 10566216

Charity Registration Number: 1172120

SPORTS CITY FOUNDATION LTD

THE BOARD’S REPORT AND ACCOUNTS

AS AT 31 JANUARY 2021

FOUNDATIONsports city

SPORTS CITY FOUNDATION LTD

REPORT AND ACCOUNTS

CONTENTS	Page
Company Information	3
Boards’ Report	4-6
Independent examiners’ report	7-8
Statement of financial activities (income & expenditure)	9
Notes to the Accounts	10-11

SPORTS CITY FOUNDATION LTD

COMPANY INFORMATION

BOARD/OFFICERS

BENJAMIN ACKIM (Chair) JASMINE ENNIS FREDA AYISI

REGISTERED OFFICE

20-22 WENLOCK ROAD

LONDON N1-7GU

REGISTERED NUMBER

Company Registration Number: 10566216 Charity Registration Number: 1172120

INDEPENDENT EXAMINER

BARBARA BUTLER

SPORTS CITY FOUNDATION LTD - REGISTERED NUMBER: 10566216 / CHARITY NUMBER: 1172120

BOARDS’ REPORT FOR YEAR ENDED 31 JANUARY 2021

The Board presents this report and accounts for the year ended 31 JANUARY 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Memorandum and Articles of Association, the Companies Act 1985 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005. Income is recognised when cash is received.

Structure, governance and management

The charity is a company limited by guarantee, governed by its Memorandum and Articles of Association formed on the 16[th] January 2017.

The members of the Board, (who are the Chanty's trustees for the purposes of the Charities Act 1993 and Directors for the purposes of the Companies Act), who served during the year were:

Benjamin Ackim Chair (Appointed 16 January 2017) Jasmine Ennis (Appointed 16 January 2017) Freda Ayisi (Appointed 1 December 2018)

None of the members of the Board has any beneficial interest in the company. All of the members of the Board are members of the company and guarantee to contribute £1 in the event of a winding up. The Members of the Company are the Members of the Board of Directors

Admission to the Board is by invitation and by majority vote at the Board. The Board seeks to implement such changes by consensus. The Board seeks to add to its strength by recruiting individuals with particular strengths in the fields of sport, regeneration, education and with particular reference to specific skills that will strengthen the governance function of the Board.

The Board reviews its membership not less than annually and is content with the age and gender balance. The Board have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

PRINCIPAL ACTIVITIES/OBJECTS

The charity’s objects (“Objects”) are specifically restricted to the following:

Community recreation

To promote for the benefit of the inhabitants of UK the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement,

financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.

(2) Sports The promotion of community participation in healthy recreation in particular by the provision of facilities for the playing of sports.

(3) Young People To advance in life and help young people through:

(a) The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;

(b) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.

• To help young people, especially but not exclusively through leisure time activities, so as to develop their capabilities that they may grow to full maturity as individuals and members of society.

• To act as a resource for young people providing advice and assistance and organising programmes of physical, educational and other activities as a means of:

(c) providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.

The company seeks to work in areas of greatest social and financial disadvantage to this end the Board has committed the company to supporting work on the 20% most disadvantaged areas of the country. The Board had engaged on research that showed that participation on sport, participation at elite level and the general health of people on these areas was below the national average and significantly below the figures for those on areas of greater economic advantage. Sports City Foundation set itself the task of changing this. Sports City Foundations’ work was begun in England, but the Board has committed to extending this model of work and our operations to all parts of the UK

Financial review

The Board presents its report and accounts for the year ended 31 JANUARY 2021

Reserves

The Board of the company has determined that the company should create a financial reserve equivalent to three months' expenditure.

This report was approved by the Board on 1 September 2021 and signed on its behalf.

Benjamin Ackim

Chair

STATEMENT OF THE BOARDS’ RESPONSIBILITIES

The Board is responsible for preparing the accounts in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the Board to prepare accounts for each financial year which give a true and fair view of the state of affairs of the chanty and of its incoming resources and application of resources, including its net income and expenditure for the year.

In preparing these accounts, the Board is required to:

select suitable accounting policies and then apply them consistently,
make Judgements and estimates that are reasonable and prudent, and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the chanty will continue in operation.

The Board is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the chanty and which enable it to ensure that the accounts comply with the Companies Act 1985. It is also responsible for safeguarding the assets of the chanty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

INDEPENDENT EXAMINERS’ REPORT

We have examined the accounts of Sports City Foundation Ltd for the year ended 31 JANUARY 2021 set out on pages 8 to 14. These accounts have been prepared under the accounting policies set out on page 10.

This report is made solely to the company's members, as a body, in accordance with section 235 of the Companies Act 1985. Our work has been undertaken so that we might state to the company's members those matters we are required to state to them in a financial report and for no other purpose to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our work, for this report, or for the opinions we have formed.

Respective responsibilities of Board and auditors

As described on page 4, the members of the Board, who are also the directors of Sports City Foundation Ltd for the purpose of company law, are responsible for preparing The Board's' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards ( United Kingdom Generally Accepted Accounting Practice). Our responsibility is to audit the accounts in accordance with relevant legal and regulatory requirements and international Standards on Auditing (UK and Ireland).

We report to you our opinion as to whether the accounts give a true and fair view and are properly prepared in accordance with the Companies Act 1985. We also report to you whether in our opinion the information given in The Board's' Report is consistent with the accounts, If the chanty has not kept proper accounting records, If we have not received all the information and explanations we require for our audit, or If information specified by law regarding trustees' remuneration and transactions with the chanty is not disclosed.

We read other information contained in The Board's' Report, and consider whether it is consistent with the audited accounts. We consider the implications for our report If we become aware of any apparent misstatements or material inconsistencies with the accounts. Our responsibilities do not extend to any other information.

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the accounts. It also includes an assessment of the significant estimates and Judgements made by the Board in the preparation of the accounts, and of whether the accounting policies are appropriate to the chanty's circumstances, consistently applied and adequately disclosed.

We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the accounts are free from material misstatement, whether caused by fraud or other irregularity or error in forming our opinion we also evaluated the overall adequacy of the presentation of information in the accounts.

Opinion

In Our opinion

the accounts give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the state of the chanty's affairs as at 31 JANUARY 2021 and of incoming resources and application of resources in the year then ended
the accounts have been properly prepared in accordance with the Companies Act 1985, and
the information given in The Board's' Report is consistent with the accounts.

INDEPENDENT EXAMINER

BARBARA BUTLER

SPORTS CITY LONDON LTD STATEMENT OF FINANCIAL ACTIVITIES (INCOME & EXPENDITURE) FOR THE YEAR ENDED 31, JANUARY 2021

		Unrestricted	Restricted	Total	Prior year
Recommended categories by activity	Notes	funds	income funds	funds	funds
		£	£	£	£
Income:	1
Donations and legacies		12,500	-	- 12,500	6,540
Charitable activities		-	- 93,487	93,487	92,340
Other trading activities		10,847	-	- 10,847	35,071
*Total*		23,347	93,487	116,834	133,951
Expenditure:	2
Managing and fundraising		22,296	-	- 22,296	38,898
Charitable activities		500	93,487	93,987	93,840
*Total*		22,796	93,487	116,283	133,738

Net income/(expenditure) before tax		551	-	- 551	213
Taxpayable		-	- -	- -	- -
Net income/(expenditure)		551	-	- 551	213
*Reconciliation of funds:*
Total funds brought forward		2,714	-	- 2,714	2,501
*Total funds carried forward*		3,265	-	- 3,265	2,714

The board is satisfied that the statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 1985.

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies’ subject to the small companies’ regime.

Approved by the Board on 1 September 2021, Benjamin Ackim (Chair)

SPORTS CITY FOUNDATION LTD NOTES TO FINANCIAL STATEMENTS FOR PERIOD TO ENDED JANUARY 31, 2021

The accounts have been prepared under the historical cost convention.

The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and the Companies Act 1985

	Analysis of income	Unrestricted	Unrestricted	Restricted	Total funds	Prior year
		funds	funds	funds
					£	£
Donations	Donations and gifts
& legacies:		12,500		500 -	- 12,500	500 6,540
	Total
		12,500		500 -	12,500	500 6,540

	YLC – YoungClapham		-	-	-	9,900
	LC EIPS – YoungClapham		-	21,444	21,444	-
Charitable	LC EIPS – Young Future
activities:	Alliance		-	32,000	32,000	16,000
	London Borough of Lambeth			7,275	7,275	26,722
	Bankside Open Spaces Trust		-	2,500	2,500	29,218
	Mayors Fund for London		-	30,268	30,268	10,500
	Total
			-	- 93,487	93,487	92,340

	Healthy Start Breakfast Club
Other trading activities:	Xcite after school Club Extra-curricular activities	2,372 7,957		372 - 957 -	- 2,372 - 7,957	372 9,293 957 21,846
			518	-	518	3,932
	Total
		10,847		-	- 10,847	35,071

TOTAL INCOME
		23,347		347 93,487	487 116,834	133,951

SPORTS CITY FOUNDATION LTD NOTES TO FINANCIAL STATEMENTS (CONTINUED) FOR PERIOD TO ENDED JANUARY 31, 2021

	Analysis of expenditure	Unrestricted	Unrestricted	Restricted	Total funds	Prior year
		funds	funds	funds
		£		£	£	£
	Incurred seekingdonations		292	-	292	560
Expenditure	Incurred seeking grants		581	-	581	1,018
on raising	Staging fundraising events		-	-	-	927
funds:	Advertising, marketing,
	direct mail andpublicity		400	-	400	400
	Total expenditure on
	raising funds	1,273		-	1,273	273 2,905

Expenditure on charitable activities	Management and project deliveryoverhead costs General grants provided by government/charities	1,627 -		627 - 93,487	1,627 487 93,487	6,994 92,340
	Total expenditure on
	charitable activities	1,627		93.487	95,114	99,334

Administrative	Salaries & Wages
expenses		9,791		-	9,791	21,528
	Rent & Venue hire	7,850		-	7,850	7,850
	Insurance	1,441		-	1,441	1,307
	Ofsted registration fee		114	-	114	114
	Training courses		0	-	0	0
	Accountancy fees		500	-	500	500
	Travel & Subsistence		0	-	0	0
	Advertising & Marketing		200	-	200	200
	Total other expenditure	19,896			19,896	31,499

TOTAL EXPENDITURE		22,796		796 93,487	487 116,283	283 133,738