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2023-06-30-accounts

SEVENOAKS SUNS BASKETBALL CLUB (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2023

Registered Company Number: 09161597 Registered Charity Number: 1172673

Azets Audit Services 1[st] Floor River House 1 Maidstone Road Sidcup Kent DA14 5RH

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Information 1
Report of the Trustees 2 – 4
Independent Examiner's Report 5
Statement of Financial Activities 6 - 7
Balance Sheet 8
Notes to the Financial Statements 9 - 13

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE INFORMATION

Trustees L J Busch
C J Henry
R S Surrey
D Turner
M Von Aesch
P Webb
Key management personnel The Trustees
Company secretary D Turner
Registered Company number 09161597
Registered Charity number 1172673
Registered office Rock House, High Street
Chipstead
Sevenoaks
Kent
TN13 2RR
Independent examiner M A Wilkes FCA
Azets Audit Services
River House
1 Maidstone Road
Sidcup
Kent
DA14 5RH
Bankers Barclays Bank plc
80 High Street
Sevenoaks
Kent
TN13 1LR

1

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

REPORT OF THE TRUSTEES

The Trustees, who are also directors for the purposes of company law, present their report and the financial statements of the charitable company for the year ended 30 June 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published on 16 July 2014.

Objectives and Activities

The objectives of the charitable company is the promotion of community participation in healthy recreation in particular by the provision of facilities for the players of basketball.

The main activity of the charitable company is the provision of amateur sport (basketball) for children and young people and the general public, through providing buildings/facilities/open spaces, services and advocacy/advice/information in South Easr England.

Statement on Public Benefit

The objectives and activities, and achievement and performance sections of this report clearly set out the activities which the charity undertakes for the public benefit. The Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the charity.

STRATEGIC REPORT

Achievements and Performance

Club Operation & Growth

In FY 2023 the Club maintained membership levels, with a 30% increase in National League subscriptions more than offsetting a small decrease in Development subscriptions. Camp revenues also more than doubled to £21,000 – slightly more than 12% of operating revenue. As a result, revenue from operations increased slightly year-on-year. In the Development Programme, the club operated 12 weekly sessions across Sevenoaks, Tonbridge and Tunbridge Wells and ran 10 teams which competed in the Surrey and Kent Leagues. These boys and girls teams ranged from Under 10 to Under 18. Also, the Suns ran 5 National League teams, three for boys and 2 for girls. Combining two men’s teams, the Suns Community Programme ran a team in the Medway Basketball League and also a successful women’s recreational session. Together, these Suns’ programmes reached over 600 young people this year.

Once again, our ability to reach more young people was constrained by our limited coaching resources. Despite a serious hiring effort, we were unable to establish a long-term solution to this problem. Going forward, hiring 2 or 3 full-time coaches will be a major priority.

Schools

As noted above, our schools programme more than doubled on a year-on-year basis. Once again, this was largely due to increased participation at schools with which we have long established relationships. Although such growth makes the programme increasingly dependent on a few schools, it has the important benefit of not requiring additional travel. Since travel time is a major cost component of a schools’ programme, increased work from existing clients results in significantly increased margins.

Basketball Academy

The Suns continue to pursue plans to establish a basketball academy at an area school. Unfortunately, facilities at the school are under considerable demand. As a result, it will not be feasible to fully launch the Academy until plans to construct outdoor basketball courts at the school have been implemented. We expect that these courts will be completed during FY 2025.

Financial Review

The charitable company generated income totalling £280,492 during the year (2022: £242,510). Expenditure amounted to £289,012 (2022: £204,203). This resulted in a deficit for the year of £8,520 (2022: surplus - £38,307)

The fund balances carried forward at 30 June 2023 were £11,195 (2022: £19,715).

2

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

REPORT OF THE TRUSTEES - CONTINUED

Reserves Policy

The Trustees acknowledge the volatility of its levels of generated income and have committed to setting aside three months of budgeted expenditure which equates to reserve of £45,000 (2022: £50,000). This is to mitigate against potential income fluctuation. The reserve policy will be reviewed on an annual basis.

The unrestricted funds at 30 June 2023 total £11,195 (2022: £19,715).

Plans for Future Periods

The Suns remain committed to reaching as many young people as possible. In addition to seeking to organically grow our Development and National League Programmes, we will seek third-party funding for two major projects. First, we plan to launch a Girls Outreach Programme. Declining girls’ participation in sport has become a major long-term health problem in Britain. Each year, over 1 million “sporty” girls drop out of sport as they reach adolescence. That equates to over 26,000 girls in Kent – every year! Kids, boys and girls, who participate in sport are less likely to: (a) become obese, (b) develop heart disease or cancer, (c) become involved with drugs or unwanted pregnancies, (d) become handicapped and (e) engage in risky behaviors, generally. Further, kids who engage in sport are more likely to (a) have better grades, (b) go to university, (c) complete university, (d) earn more upon completing their studies, (e) lead healthier lives and (f) live longer. So, when 26,000 girls in Kent drop out of sport, 26,000 girls place significant limitations on their lifetime prospects. The Suns are committed to doing everything we can to keeping these girls on the path to a healthy, active lifestyle. To address this problem, the Suns will seek third-party funding to launch a Girls’ Engagement Programme. We plan to have a full-time Girls’ Engagement Coordinator who will be exclusively focused working with area schools to keep young girls involved in sport. This may include activities such as running basketball sessions in schools, training PE staff or organizing a girls’ school basketball league. The coordinator will also help to establish Suns Development sessions for girls at area schools.

The Suns will also seek third-party funding for a broader Outreach Programme. Far too many boys are also sliding into a sedentary life-style with all of the negative effects mentioned above. Moreover, many parents are concerned about the concussion risks associated with a number of popular sports. As a result, demand for sports such as basketball have been increasing. However, many school PE staffs feel that they lack the training to coach basketball. To address this situation, the Suns will seek funding for an Outreach Coordinator. The coordinator will work with area schools to (1) establish basketball programs in participating schools, (2) train PE staff to coach basketball and (3) establish local schools’ basketball leagues. This programme would likely be integrated into the Suns basketball academy once it is established.

OUR STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The company was incorporated on 5 August 2014 and is governed by its Memorandum and Articles of Association. The company received charitable status on 20 April 2017. The charitable company is limited by guarantee and has no share capital.

Trustees

The Trustees, who are also directors for the purposes of the Companies Act 2006, who served during the year were:

L J Busch C J Henry K Kumar (Resigned 7 July 2023) R S Surrey D Turner M Von Aesch P Webb (Appointed 7 July 2023)

No Trustees had any contract or arrangement of a material nature with the charitable company during the year under review.

The minimum number of Trustees shall be three but shall not be subject to any maximum. The charity may by ordinary resolution appoint a person who is willing to act as a trustee. On appointment new Trustees are given full details of the Policies and Procedures of Sevenoaks Suns Basketball Club.

One third of the Trustees are required to retire but can stand for re-appointment.

3

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

REPORT OF THE TRUSTEES - CONTINUED

Key management personnel remuneration

The Trustees consider the board of Trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All Trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in note 16 to the accounts.

Trustees are required to disclose all relevant interests and register them with the executive director and in accordance with the Trust’s policy withdraw from decisions where a conflict of interest arises.

Risk Management

The Trustees have considered the risks faced by the charitable company and have put in place systems to manage them, which they monitor. The Trustees review risks on an annual basis.

Going Concern

The Trustees of the Sevenoaks Suns Basketball Club Ltd have determined that there is good reason for the Club to continue to provide opportunities to engage in healthy sport to young people in and around West Kent and that the Club has the resources to continue so to do. The Trustees expect cash flow from subscriptions, contributions and other activities to be sufficient to sustain the Club’s planned activities. The Trustees believe the information produced by the Club’s management systems is sufficiently timely and accurate to enable good decision-making and to allow the Trustees to react to unexpected developments. Accordingly, the Trustees are not aware of any reason why the Club should not be regarded as a going concern through 30 June 2024, at least.

As at April 2024, the Club had a bank balance of over £30,000. Therefore, the Trustees consider the Suns a going concern.

Statement of Trustees’ Responsibilities

The Trustees (who are also directors of Sevenoaks Sun Basketball Club for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (including the Strategic Report) 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 these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that 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.

This report was approved by the Trustees on 24 March 2024 and signed on their behalf by:

Richard Surrey Trustee

4

SEVENOAKS SUNS BASKETBALL CLUB

(A Company Limited by Guarantee)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SEVENOAKS SUNS BASKETBALL CLUB

I report on the accounts of the charitable company for the year ended 30 June 2023 which are set out on pages 6 to 13.

Responsibilities and basis of report

As the charity 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 company’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 that in any material respect:

  1. 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

  3. 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

  4. 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.

I have no concerns and have come across no other matters in connection with the examination which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

M A Wilkes (FCA) For and on behalf of Azets Audit Services River House 1 Maidstone Road Sidcup, Kent, DA14 5RH

Date : 26 March 2024

5

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023

INCOME AND EXPENDITURE ACCOUNT

Note
Income from:
Donations
2
Charitable Activities
3
Interest Income
Total Income
Expenditure from:
Charitable Activities
4
Total Expenditure
NET MOVEMENT IN FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Total
funds
2023
£
100,395
179,998
99
__
280,492
_
289,012
__
289,012
_
(8,520)
19,715
_______
11,195
 Total
funds
2022
£
74,340
168,170
-
__
242,510
_
204,203
__
204,203
_
38,307
(18,592)
_______
19,715

All transactions in 2023 are derived from unrestricted income

All income and expenditure arise from continuing unrestricted activities.

All recognised gains and losses are included in the Statement of Financial Activities.

6

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023

INCOME AND EXPENDITURE ACCOUNT

COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

Note
Income from:
Donations
2
Charitable Activities
3
Total Income
Expenditure from:
Charitable Activities
4
Total Expenditure
NET MOVEMENT IN FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Funds
2022
£
74,340
168,170
__
242,510
_
196,856
__
196,856
_
45,654
(25,939)
_____
19,715
 Restricted
Funds
2022
£
-
-
__
-
_
7,347
__
7,347
_
(7,347)
7,347
_____
-
 Total
funds
2022
£
74,340
168,170
__
242,510
_
204,203
__
204,203
_
38,307
(18,592)
_______
19,715

All income and expenditure arise from continuing unrestricted activities.

All recognised gains and losses are included in the Statement of Financial Activities.

.

7

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

COMPANY NUMBER 09161597

BALANCE SHEET As AT 30 JUNE 2023

Note
2023
£
FIXED ASSETS
Tangible fixed assets
9
-
CURRENT ASSETS
Debtors
10
2,213
Cash at bank and in hand
32,957
_
35,170
CREDITORS: amounts falling
due within one year
11
(23,975)
_
NET CURRENT LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
Restricted funds
12
TOTAL FUNDS		 2022
£
£
15,794
34,777
_
50,571
(30,856)
_
11,195
_
11,195
_
11,195
-
____
11,195		 £
-
19,715
____
19,715
_
19,715
-
_
19,715

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for:

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standards for Smaller Entities (April 2008).

Approved by the Board of Trustees on 24 March 2024 and signed on their behalf by:

Richard Surrey Trustee

8

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

1. ACCOUNTING POLICIES

1.1

Basis of preparation

Sevenoaks Suns Basketball Club is a company limited by guarantee in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are set out on page 3.

The charity constitutes a public benefit entity as defined by FRS 102. 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) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015. The Trustees have early adopted the Charity SORP (FRS105) Update Bulletin 1.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Income

All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Voluntary income including donations is included in full in the Statement of Financial Activities when receivable.

The charity receives grants in respect of its activities. Income from grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Charitable Activity Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Investment income is included when receivable.

1.3

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

1.4 Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

The analysis of these costs is included in note 5.

9

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

1. ACCOUNTING POLICIES - continued

1.5 Funds accounting

Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.

Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when donors specify the purpose for which income can be used.

1.6 Tangible fixed assets

All assets costing more than £500 have been capitalised and are depreciated on a straight line basis from the financial year after acquisition. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of each asset on a straight-line basis over its useful life, as follows:

Motor vehicles 3 years straight line Fixtures, fitting & Equipment 3 years straight line Computer equipment 3 years straight line

Debtors and creditors receivable / payable within one year

1.7 Debtors and creditors receivable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

1.8 Cash at bank and in hand Cash at bank and in hand are short-term, highly liquid investments that are readily convertible to known amounts of cash that are subject to an insignificant risk of changes in value.

1.9 Taxation

The company is a registered charity and is therefore entitled to the exemptions from corporation tax afforded by section 505 of the Income and Corporation Taxes Act 1988. Accordingly, there is no corporation tax charge in these financial statements.

1.10 Going Concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. This view is supported by the fact that the Charity held, as at April 2024, a bank balance of over £30,000 and expected receipts from Gift Aid, camps and other events and late season subscriptions before the end of the fiscal year

1.11 Judgements and key sources of estimation uncertainty

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 8 for the carrying amount of the property plant and equipment, and note 1.8 for the useful economic lives for each class of assets.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

10

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023

2.
VOLUNTARY INCOME
General donations
3.
ACTIVITIES FOR GENERATING FUNDS
Subscriptions
Events
Other
Sale of merchandise
4.
CHARITABLE ACTIVITIES COSTS
Match fees
Registration fees
Coaching
Court hire
Equipment
Arena costs
Support costs
5.
SUPPORT COSTS
Advertising
Depreciation
Insurance
Staff costs
Travel
Training
Other expenses
Professional fees
Governance costs
6.
GOVERNANCE COSTS
Independent examination – current year
Over-provision prior year		 2023
£
100,395
__
2023
£
130,947
35,117
1,771
12,163
_
179,998
__
2023
£
16,080
2,679
21,500
64,213
10,639
480
173,421
_
289,012
__
2023
£

7,252
-
3,589
147,155
3,690
114
5,071
2,470
4,080
__
173,421
__
2023
£
4,080
-
_
4,080
_		 2022
£
74,340
_
2022
£
130,999
24,891
2,420
9,860
_
168,170
_
2022
£
13,257
406
1,612
54,452
14,936
-
119,540
_
204,203
__
2022
£
6,013
232
1,547
96,592
2,490
360
4,428
4,530
3,348
__
119,540
_
2022
£
3,828
(480)
_
3,348
_

_
_

11

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023

7. TRUSTEES' REMUNERATION AND REIMBURSED EXPENSES

None of the trustees (or any persons connected with them) received any remuneration, benefits or reimbursement of expenses from the charity during the year.

8.

STAFF COSTS
Salaries and wages
Social security costs
Pension costs
The average number of employees by headcount was:
Administration and support – full-time		 2023
£
135,066
10,150
1,939
_
147,155
_
10
 2022
£
90,840
4,916
836
____
96,592
____
9

There were no employees earning more than £60,000 during the year (2022: £Nil).

The key management personnel of the charity are considered to be the trustees who receive no remuneration.

9.
TANGIBLE FIXED ASSETS
Cost
As at 1 July 2022 and 30 June 2023
Depreciation
As at 1 July 2022 and 30 June 2023
Net Book Value
At 30 June 2022 and 30 June 2023
10.
DEBTORS
Trade debtors
Prepayments and accrued income		 Motor
Fixtures, fitting
Vehicles
& Equipment
7,200
1,102
_
_
_
_
7,200
1,102
_
_
-
-
_
_
2023
£
630
1,583
______
2,213

__		 Total
£
8,302
_
_
8,302
_
-
_
2022
£
500
15,294
______
15,794
__

12

SEVENOAKS SUNS BASKETBALL CLUB (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other taxes & social security
Other creditors
Accruals		 2023
£
3,315
10,038
1,525
9,097
__
23,975
____		 2022
£
3,847
4,787
5,136
17,086
__
30,856
____

Included within accruals is an amount of £nil (2022: £10,118) which the recipient has confirmed will not require payment until the Club has sufficient reserves to do so. Included within other creditors is an amount of £1,000 (2022: £4,750) which the recipient has confirmed will not require payment until the Club has sufficient reserves to do so.

12. RESTRICTED FUNDS

Current year – None

Prior year
Arena project fund		 1 July
2021
£
7,347
 30 June
Income
Expenditure
2022
£
£
£
-
(7,347)
-

Arena project fund – Funds have been spent on preparation for the arena as well as restricted income assigned to the development.

13. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and has no share capital. The liability of its members is limited to £10 per member.

14. RELATED PARTY TRANSACTIONS

L Busch, a trustee, has a loan outstanding at the year end of £1,000 (2022 : £4,750).

C Henry, a trustee received £3,492 (2022 - £2,170) in respect of match fees, referee fees and coaching.

D Turner, a trustee received £3,700 (2022 - £3,100) in respect of referee fees.

13