SEVENOAKS SUNS BASKETBALL CLUB SEVENOAKS SUNS BASKETBALL CLUB REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE 12 MONTHS ENDED 30th June 2024 Registered Charity No.1172673 Company No.09161597 SEVENOAKS SUNS BASKETBALL CLUB Company No.09161597 Registered Charity No.1172673 Trustees L J Busch CJHenry R S Surrey D Turner M Von Aesch P Webb Registered Address: Rock House, High Street Chipstead Sevenoaks Kent TN13 2RR Independent Examiner: Jonathan Chartres FCA 31 Moor Park Road, Hereford. England, HR4 ORR SEVENOAKS SUNS BASKETBALL CLUB Contents Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9-14 ## **REPORT OF THE TRUSTEES** The Trustees, who are also directors for the purposes of company law, present their report and the 4 **Objectives and Activities** The objective 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 s port (basketball) for children and young people and the general public, through providing buildings/facilities/open spaces, services and advocacy/advice/information in South Eas t England. Statement on Public Benefit The objectives and activities, and achievement and performance harities ## **STRATEGIC REPORT** _Achievements and Performance Club Operation & Growth_ InFY 202 4 the Club experienced increasing revenues across all levels, desite pri ce competition from new clubs attract ing development level players. l ncreases in National League subscriptions also continued while camp revenues also increased over 15 % on the year. As aresult, revenue from operations increased by 8.5% year-onyear. In the Development Programme, the club operated 15 weekly sessions across Sevenoaks, Tonbridge and Tunbridge Wells and ran1 4 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 1 coaching resources. Despite a serious hiring effort, we were unable to establish a long -term solution to this problem. H iring 2o0r3 experienced full-time coaches remains a major priority. The Club decided to discontinue its participation in the Women’s British Basketball League due to the dramatically increasing cost of remaining competitive. Such cost s would threaten to divert resources from our youth and community programmes and, as a youth - focused club, we decided _Schools_ As noted above, our schools programme significantly increased the number of children T > _Girls and Youth Outreach_ As partofourg irls’ outreach effort, we have started a girls’ session in Tunbridge Wells reaching around 20 girls. However, both our girls outreach and our broader youth outreach have been held back by the difficulty in identifying and retaining quality coaches. As noted above, we continue the effort to find the right coaches. _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 > _Financial Review_ The charitable company generated income totaling £ 218 486 during the year (2023: £280,492). Expenditure amounted to £228,272 (2023: £289,012). This resulted in a deficit for the year of £ 9 , 786 (2023: defic it - £ 8,520) The fund balances carried forward at 30 June 2023 were £ 1,409 (2023: £11,195). The decline in generated revenue and the off - setting decline in expenditures was the result of the discontinuation of our participation in the Women’s British Basketball League . This resulted in a reduction of in expenses and contribution/sponsorship revenues. _Reserves Policy_ The Trustees acknowledge that generated income may fluctuate year -to-year. They 2 ## £ 4 total £1,409 (2023: £11,195). _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 Ou treach 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 - - 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 - sedentary lifestyle with concerned about the demand for sports such a 3 ## **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 Tru stees, who are also directors for the purposes of the Companies Act 2006, who served during the year were: L Busch, CJ Henry , RS Surrey , D Turner , M Von Aesch , P Webb . 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 Truste es 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. _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 an d 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 them with the executive director and in accordance with the Trust’s _Risk Management_ _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 co ntinue 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 , at least. 4 ## March ## _Statement of Trustees’ Responsibilities_ re 5 SEVENOAKS SUNS BASKETBALL CLUB Independent Examiners Report I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th June 2024 Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act Independent examinerfs Statement I have completed my examination. I confirm that no matters have come to my attentiorb in connection with the 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 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 applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland IFR5102I. I have no concerns and have come across no other matters in connection with the examination to which attention Jon Chartres 31 Moor Park Road, Hereford. England. HR4 ORR SEVENOAKS SUNS BASKETBALL CLUB Financial Statements for the 12 Months Ended 30th June 2024 Unrestricted Funds Restricted Funds Total 2024 Total 2023 Note Income from: Donations & legacies Donations Charitable Activities Interest Income 22,874 195,294 318 22,874 195,294 318 100,395 179,998 99 Total Income 218,486 218,486 280,492 Expenditure on: Charitable activities 1228.272) 1228,2721 1289,0121 Total Expenditure 1228.272) 1228,2721 1289,0121 Net Income 19,786} 19,7861 18,5201 Transfers between funds Net movement in funds {9,786) 19,7861 18,5201 Fund balances at 30th June2023 11.195 11.195 19,715 Fund balances at 30th June 2024 1,409 1,409 11,195 All disclosures relate only to continuing operations. There are no recognised gains or losses other than the net incoming resources for the year. SEVENOAKS SUNS BASKETBALL CLUB Balance Sheet as at 30th June 2024 Note 2024 2023 Fixed Assets Tangible assets CURRENT ASSETS Debtors Accrued Income and prepayments Cash on short term deposit at bank and in hand 1.725 8.850 17,891 28,466 2,213 32,957 35,170 CREDITORS: Amounts falling due within one year 127.057) 123,9751 1,409 11,195 TOTAL ASSEfs LESS CURRENT LIABILITIES 1.409 11.195 TOTAL ASSErs 1,409 11,195 Charity Funds Restricted Funds Unrestricted Funds 1.409 11.915 TOTAL FUNDS 1,409 11,915 For the year ended 31st August 2024 the charity was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. The members have not 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 the accounts. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statement were approved by the Trustees and authorised for issue on 30 March 2025 signed on their behalf by.. and were 5tee- RK Surrev mg•ny rryslr•tlon er . 091615971ErylwwJ & Wale5) SEVENOAKS SUNS BASKETBALL CLUB Notes to the Financial Statements I. ACCOUNTING POLICIES Company information Sevenoaks Suns Basketball Club is a private company limited by guarantee incorporated in England and Wales. The address of the registered office isRock House, High Street.Chipstead,Sevenoaks,Kent,TN13 2RR 1.1 Accounting convention Basis of Preparation The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. published in January 2019. The Charitable Company is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP published in January 20191, the Companies Act 2006 and the Charities Act 2011. The financial statements are prepared in sterlin& which is the functional currency of the company. Monetary amounts The financial statements have been prepared on a going concern basis. On this basis. the directors consider it appropriate to prepare the financial statements on a going concern basis. 1.3 Income All income is reco8nised once the company has entitlement to the income, it is probable that the income will be Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefit5 will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity- The costs of each activity are made up of the total of the direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support Costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the assets used. SEVENOAKS SUNS BASKETBALL CLUB Notes to the Financial Statements I. ACCOUNTING POLICIES (continued) Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Support costs are allocated on a percentage basis as detailed in note Charitable activities and Governance costs are costs incurred on the company's educational operations, including support COSts and costs relating to the governance of the company apportioned to charitable activities. 1.5 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 Fixture5, fitting & Equipment Computer equipment 3 years straight line 3 years straight line 3 years straight line 1.6 Interest Receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company,. this is normally upon notification of the interest paid or payable by the Bank. 1.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.8 Cash at Bank and in hand Cash at bank and in hand includes cash and short term highly liquid investment5 Wlth a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.9 Liabilities and provisions Liabilitie5 are recognised when there is an obligation at the balance sheet date as a result of a past event, it 15 probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obliRation. 1.10 Financial instruments The company only has financial asset5 and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 10 SEVENOAKS SUNS BASKETBALL CLUB Notes to the Financial Statements I. ACCOUNTING POLICIES (continued) 1.11 Pensions The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. 1.12 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other Designated fund5 comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The cost5 of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. 2. VOLUNTARY INCOME Total 2024 Total 2023 General Donations 22.874 100.395 22,874 100,395 3. AcfiviTIES FOR GENERATING FUNDS Total 2024 Total 2023 Subscriptions Events Other Sale of Merchandise 147,253 37.526 130,947 35,117 1,771 12.163 10,515 195.294 179,998 SEVENOAKS SUNS BASKETBALL CLUB Notes to the Financial Statements 4. Charitable Artivities Funds Total Total 2024 2023 Match Fees Registration Fees Coaching Court hire Equipment Arena Costs Camp Expense Support Costs 5.655 16,080 429 2,679 15,829 21,500 58.736 64.213 8.365 10,639 480 12.429 126.829 173.421 228,272 289,012 5. Support costs Total 2024 Total 2023 Advertising Depreciation Insurance Staff Costs Travel Training Other Expenses Professional Fees Governance Costs 4,785 7,252 3,265 93,942 3,887 3,589 147,155 3,690 114 19,930 1,020 5,071 2,470 4,080 126,829 173,421 6. Governance Costs Total 2024 Total 2023 Independent examination - current year 300 4,080 300 4,080 12 SEVENOAKS SUNS BASKETBALL CLUB Notes to the Financial Statements 7. Trustees Remuneration and Reimbursed Expenses None of the trustees lor any persons connetted with them) received any remuneration, benefits or re- imbursement of expenses from the charity during the year. 8. Staff Costs Total Total 2024 2023 Salaries and Wage5 Social Security Costs Pension Costs 85.412 7.092 1,437 135.066 io. 1,939 93,942 147,15S 9. Tangible Fixed Assets Motor Vehicles Fixtures. Fittings & Equiment Total Cost Asat Iluly2023andJune2024 7,200 1,102 8,302 Depreciation Asat Iluly2023andJune2024 7.200 1.102 8,302 Net Book Value 2024 10. Debtors Total Total 2024 2023 Trade debtors Accrued income Prepayments 1.725 5.243 1.583 3,(4)7 10.575 2.213 SEVENOAKS SUNS BASKETBALL CLUB Notes to the Financial Statements 11. Creditors: Amounts falling due within one year 2024 2023 Trade Creditors Other Taxes & Social Security Other Creditors Accruals 4,682 4,666 17,109 600 27,057 3,315 10,038 1,525 9,097 23,975 12. Restricted Funds Current Year-None Prior Year- None 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 There are no Related Party Transactions in the period 14