2024-03-31-accounts - Broomwood Football Club Limited

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REGISTERED COMPANY NUMBER: 10666553 (England and Wales) REGISTERED CHARITY NUMBER: 1174273

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR BROOMWOOD FOOTBALL CLUB LIMITED

BROOMWOOD FOOTBALL CLUB LIMITED

(Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

TRUSTEES’ ANNUAL REPORT

Registered Company number

10666553 (England and Wales)

Registered Charity number

1174273

Registered Office

48 Thurleigh Road, London, SW12 8UD

Trustees

Mr C McEvoy (former) Chair - resigned 8 June 2023 Mr B D Sanderson (new) Chair - appointed 8 June 2023 Mr D A Walker Club Secretary Mr J Parry Treasurer Mr T Le Deng Club Welfare Officer - resigned 13 May 2024 Mr D Richardson Head of Girls section - appointed 8 June 2023 Mr M Cook Club Welfare Officer - appointed 8 June 2023 Mrs J Athill League Secretary - resigned 8 June 2023

Company Secretary

Mr D A Walker

Bankers

Metro Bank PLC 4 – 8 St John’s Road London, SW11 1PN

Independent examiner

Charles Ssempijja, FCA NfP Accountants Ltd 3[rd] Floor, 86-90 Paul Street, London, EC2A 4NE

BROOMWOOD FOOTBALL CLUB LIMITED (Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

TRUSTEES’ ANNUAL REPORT

The trustees who are also the directors of the charity for the purpose of the Companies Act 2006, present their report with the financial statements of the charitable company for the year ended 31 March 2024. The trustees have adopted the provisions of 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).

COMPANY BACKGROUND

The Company was incorporated under the Companies Act 2006 as a private company on 13 March 2017. The Charity Commission registered Broomwood Football Club Limited as a charity and entered it onto the Register of Charities with Registered Charity number 1174273 on 16 August 2017. Prior to this, the association was an unincorporated organisation before being registered as a limited company and then registered as a charity.

OBJECTIVES AND ACTIVITIES

The charity’s objectives are to promote the community participation in healthy recreation for the benefit of the inhabitants of the Wandsworth Common area of the London Borough of Wandsworth and surrounding area by the provision of facilities for playing football.

There are now over 1,000 children registered and playing football in the junior section (ages 5 to 9) and leagues and academies (age 10 upwards).

The league section continues to thrive with multiple teams and age groups in the London County Saturday Youth Football League (LCSYFL), the Tandridge Sunday League, the Capital Girls League and the Girls Super League (London).

The number of girls playing continues to rise with over 300 girls registered. Broomwood has one of the largest girl’s sections anywhere in the UK. The girls now field seven teams in the Capital Girls League and three teams in the Girls Super League (London). For those not wanting to, or unable to commit to League football, there is also the offer of development football, which is now open to four age groups and continues to expand year on year.

The charity continues to encourage the subsidy of the cost of membership for families in hardship. During the year over 30 applicants had been given a total or partial exemption of the subscription fees and / or provision of kit.

Coach Development

The charity continues to fund the FA Level 1 course to ensure that the charity has enough qualified coaches across the development and league sections of the club. The club are also looking to sponsor members who would like to train to be a referee.

STRATEGIC REVIEW

Financial Review

Going Concern

The trustees consider that the charity have significant resources to continue in operational existence for the foreseeable future. They therefore continue to adopt the going concern basis while preparing the financial statements.

Financial Risk Management objectives and policies

The nature of the charity’s activities does not give rise to meaningful foreign exchange, interest rate, credit or liquidity risks. Income is generally collected ahead of costs being incurred, or is received from grants.

Principal funding sources

Principal funding comes from subscriptions, supplemented by grants or sponsorship.

BROOMWOOD FOOTBALL CLUB LIMITED (Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

TRUSTEES’ ANNUAL REPORT

Review of the year

The charity received income of £211,963 during the year under review (2023 - £190,849), all derived from charitable activities. Total resources expended during the year amounted to £212,421 (2023 - £221,321), of which £176,719 was direct charitable expenditure (2023 - £183,043). Overall expenses are detailed in Note 4 – Charitable activities costs. The charity incurred a small net deficit of £458 in the year (2023 - £30,472) and total funds as at 31 March 2024 were £82,314 (2023 - £82,771).

Reserves Policy

The charity holds the view that reserves should always be maintained to cover unavoidable annual expenditure such as storage space rentals, insurance, IT and other administrative costs. The charity’s aim is to have positive financial operating performance while carrying out its stated objectives.

Plan for future periods

Given the continued cost of living crisis and general economic uncertainty, as well as the satisfactory closing financial position of the year under review, the Committee agreed to freeze Subscriptions for the 2024/25 season.

The charity continually strives to adapt its offering to the needs of the local community. The need for additional playing venues has been clearly identified and the charity will continue to cooperate with local venues, both public and private, to ensure a quality and safe experience can be offered to our players. Cooperation will be sought with the Borough of Wandsworth, together with their contractors to achieve this and discussions are planned for the neighbouring Borough of Lambeth also. Further expansion of the club’s membership will be limited unless new playing venues can be found.

The charity will continue to strive to ensure that child welfare is the number one consideration at all times. Inclusiveness will also be prioritised via an active and expanding bursary scheme ensuring that players are not excluded from the sport of football due to the cost of club membership. Recognising our important role as a community sports club, the charity will also continue to identify new local charities with whom fund-raising partnerships can be formed for our mutual benefit.

Public benefit

The trustees confirm that they have had due regard to the Charity Commission’s guidance on public benefit.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is constituted as a company limited by guarantee. The company was established under Articles of Association which established the objects and powers of the charity. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

The directors of the charitable company (“the charity”) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the ‘Board’. Trustees are elected to the Board by (ordinary resolution of) members of the charity. The Chair of the trustees is elected by the Board of Trustees .

Organisational structure

The charitable company is governed by the Board which is responsible for setting the strategic direction of the organisation and the policies of the charity. The Board carries the ultimate responsibility for the conduct of the charity and for ensuring that it satisfies its legal and contractual obligations. The Board meets at least quarterly and there is also an annual general meeting of all members of the charity. The members of the charity are parents and carers of the players and coaches who have the ability to reelect a new Board at the annual general meeting. In addition, there is a substantial team of volunteers who are key to providing the services offered by the charity. There are additional meetings of appropriate members or volunteers of operational sub-groups as required.

BROOMWOOD FOOTBALL CLUB LIMITED

(Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

TRUSTEES’ ANNUAL REPORT

Risk Management

The trustees have assessed the major risks to which the charity is exposed, in particular to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate exposure to major risks.

Key management personnel

The charity is governed by the Board of Trustees which is responsible for setting the strategic direction of the charity and for establishing policy. The trustees meet as often as required for the operation of the charity, normally on a monthly basis.

Trustees, related parties and employees

The trustees consider that the members of the board and their close connections are the only related parties of the charity. The trustees are unpaid. There are no employees in the trust, nor are there any related party transactions to disclose (2023 – the same).

Public benefit

The trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.

Preparation of the report

This report has been prepared taking advantage of the small companies exemption of Section 415A of the Companies Act 2006 applicable to companies subject to the small companies regime.

Approval

This report was approved, and authorised for issue, by the trustees, on 20 December 2024 and signed on the board’s behalf by:

Mr J Parry – Trustee and Treasurer

BROOMWOOD FOOTBALL CLUB LIMITED

(Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report on the financial statements for the year ended 31 March 2024 set out on pages 7 to 14.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission undersection 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 giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do 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.

Disclosure: Departure from the 2008 Regulations

Your attention is to drawn to the fact that the Company has prepared the financial statements in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice, published on 16 July 2014 in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the regulations but has since been withdrawn.

We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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Charles Ssempijja FCA NfP Accountants Ltd Chartered Accountants 3[rd] Floor, 86 - 90 Paul Street London EC2A 4NE

Date: 20 December 2024

BROOMWOOD FOOTBALL CLUB LIMITED

(Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

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CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The accompanying notes on pages 10 to 14 form an integral part of these financial statements.

BROOMWOOD FOOTBALL CLUB LIMITED

(Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

BALANCE SHEET AS AT 31 MARCH 2024

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The charitable company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The Board acknowledge their responsibility for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements that give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The financial statements were approved by the Board on 20 December 2024 and were signed on its behalf by:

Mr J Parry - Trustee

BROOMWOOD FOOTBALL CLUB LIMITED

(Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

STATEMENT OF CASHFLOWS

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BROOMWOOD FOOTBALL CLUB LIMITED (Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Principal accounting policies

(a) Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention.

The charity has not prepared a Statement of cash flows, taking advantage of the provisions available for smaller entities.

The charity is a public benefit entity within the meaning of FRS102.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following SORP 2015 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 (SORP 2005) which has since been withdrawn.

Preparation of the accounts on a going concern basis:

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

(b) Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the trustees' report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

BROOMWOOD FOOTBALL CLUB LIMITED (Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

(c) Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

(d) Taxation

The charity is exempt from corporation tax on its charitable activities.

(e) 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 charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs 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.

(f) Basic financial instruments

The charity only has financial assets 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.

(g) 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 offered.

(h) Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a maturity of three months or less.

(i) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

BROOMWOOD FOOTBALL CLUB LIMITED

(Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Donations and Legacies

No donations or grants were received during the year (2023 - £nil).

3. Income from charitable activities

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4. Charitable activities costs

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All expenditure relates to unrestricted funds.

5. Support and governance costs

All support and governance costs were incurred in relation to the single charitable activity.

6. Staffing

Broomwood Football Club is ran entirely by volunteers. There are no employees or paid staff (2023 - same). The work of the charity is carried out by the trustees and parents, carers and relatives of the children, and supported by professionally qualified coaches. In the year to 31 March 2024 £17,989 was spent on external coaching (2023 - £13,578).

BROOMWOOD FOOTBALL CLUB LIMITED

(Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. Debtors: Amounts falling due within one year

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8. Creditors: Amounts falling due within one year

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9. Trustees remuneration and benefits

There was no trustees' remuneration, other benefits or expenses paid for the year ended 31 March 2024, nor for the year ended 31 March 2023.

10. Related Party Disclosures

There were no related party transactions for the year ended 31 March 2024.

11. Analysis of Net Asset movement between funds

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All the charity’s funds and all income and expenditure were unrestricted.

12. Ultimate controlling party

The trustees are the immediate and ultimate controlling party.

BROOMWOOD FOOTBALL CLUB LIMITED

(Company Limited by guarantee without share capital number 10666553; charity number 1174273 (England and Wales)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

13. Other company information

Broomwood Football Club Limited is a charitable company limited by guarantee, registered in England with registration number 10666553. Its registered office address is 48 Thurleigh Road, London, England, SW12 8UD. The accounts are presented in GBP rounded to £1.