REGISTERED CHARITY NUMBER: 1175662
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 October 2020
for
Timperley Amateur Boxing Club
Boardman Conway 23A High Street Weaverham Northwich Cheshire CW8 3HA
Timperley Amateur Boxing Club
Contents of the Financial Statements for the Year Ended 31 October 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Timperley Amateur Boxing Club
Report of the Trustees for the Year Ended 31 October 2020
The trustees present their report with the financial statements of the charity for the year ended 31 October 2020. 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are the promotion of community participation in healthy recreation for the benefit of the inhabitants of Timperley and the surrounding area of Trafford.
The charity also aims to promote for the benefit of the inhabitants of Timperley and the surrounding area of Trafford, 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 said inhabitants.
This is achieved by the provision of facilities for amateur boxing in particular but not exclusively using boxing and its training and techniques as a mean of improving health and fitness and encouraging people to make healthy life choices.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity has provided boxing training for adults and children, as well as the provision of travel to competitions using usually the club minibus. This is not just for those taking part in the competition but also to encourage support for those taking part.
The charity has also the use of the facilities for fitness training for groups from local schools, as well as for children and young people who are not in education or training.
FINANCIAL REVIEW
Reserves policy
The trustees have reviewed the reserves of the charity and have concluded that to allow the charity to be managed efficiently and to continue its current activities, unrestricted fund reserves should be not less than 6 months anticipated expenditure. On this basis the current requirement is £8,000 at 31 October 2020. The trustees have ringfenced £50,200 of donations and sponsorship towards the new building cost. Actual free reserves at 31 October 2020 amounted to £14,458, which the trustees consider is a satisfactory level.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisational structure
The charity is governed by the trustees who meet regularly throughout the year. The trustees have been selected for their experience and knowledge with regards the boxing club and within the surrounding community. All decisions are made by the trustees at their meetings. In planning the activities for the year the trustees have kept in mind the Charity Commissions guidelines on public benefit and the objectives of the Charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1175662
Principal address
Mainwood Road Timperley Altrincham WA15 7JU
Page 1
Timperley Amateur Boxing Club
Report of the Trustees
for the Year Ended 31 October 2020
Trustees
Mrs C J Gilley B Flynn A McHale (appointed 16.12.19)
Independent Examiner
Steven Conway FCA Boardman Conway 23A High Street Weaverham Northwich Cheshire CW8 3HA
Approved by order of the board of trustees on 9 February 2021 and signed on its behalf by:
Mrs C J Gilley - Trustee
Page 2
Independent Examiner's Report to the Trustees of Timperley Amateur Boxing Club
Independent examiner's report to the trustees of Timperley Amateur Boxing Club
I report to the charity trustees on my examination of the accounts of Timperley Amateur Boxing Club (the Trust) for the year ended 31 October 2020.
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 Act and in carrying out my examination I have followed all 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 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.
Steven Conway FCA Boardman Conway 23A High Street Weaverham Northwich Cheshire CW8 3HA
10 February 2021
Page 3
Timperley Amateur Boxing Club
Statement of Financial Activities for the Year Ended 31 October 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 37,173 Charitable activities New building - Total 37,173 EXPENDITURE ON Other 14,237 NET INCOME 22,936 RECONCILIATION OF FUNDS Total funds brought forward 41,722 TOTAL FUNDS CARRIED FORWARD 64,658 |
Restricted fund £ - - - - - 100,000 100,000 |
31.10.20 31.10.19 Total Total funds funds £ £ 37,173 44,911 - 100,000 37,173 144,911 14,237 20,096 22,936 124,815 141,722 16,907 164,658 141,722 |
31.10.20 31.10.19 Total Total funds funds £ £ 37,173 44,911 - 100,000 37,173 144,911 14,237 20,096 22,936 124,815 141,722 16,907 164,658 141,722 |
|---|---|---|---|
| 144,911 20,096 |
|||
| 124,815 16,907 |
|||
| 141,722 |
The notes form part of these financial statements
Page 4
Timperley Amateur Boxing Club
Balance Sheet 31 October 2020
| Unrestricted fund Notes £ CURRENT ASSETS Debtors 4 42,719 Cash at bank 50,099 92,818 CREDITORS Amounts falling due within one year 5 (28,160) NET CURRENT ASSETS 64,658 TOTAL ASSETS LESS CURRENT LIABILITIES 64,658 NET ASSETS 64,658 FUNDS 6 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - 100,000 100,000 - 100,000 100,000 100,000 |
31.10.20 Total funds £ 42,719 150,099 192,818 (28,160) 164,658 164,658 164,658 64,658 100,000 164,658 |
31.10.19 Total funds £ 35,095 134,052 169,147 (27,425) 141,722 141,722 141,722 41,722 100,000 141,722 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 9 February 2021 and were signed on its behalf by:
C J Gilley - Trustee
B Flynn - Trustee
The notes form part of these financial statements
Page 5
Timperley Amateur Boxing Club
Notes to the Financial Statements for the Year Ended 31 October 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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.
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.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 44,911 Charitable activities New building - Total 44,911 EXPENDITURE ON Other 20,096 |
Restricted fund £ - 100,000 100,000 - |
Total funds £ 44,911 100,000 |
|---|---|---|
| 144,911 20,096 |
Page 6
continued...
Timperley Amateur Boxing Club
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
| 3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund fund £ £ NET INCOME 24,815 100,000 RECONCILIATION OF FUNDS Total funds brought forward 16,907 - TOTAL FUNDS CARRIED FORWARD 41,722 100,000 4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.10.20 £ Other debtors 1,510 Prepayments 41,209 42,719 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.10.20 £ Trade creditors 1,042 Other loans 27,118 28,160 6. MOVEMENT IN FUNDS Net At movement 1.11.19 in funds £ £ Unrestricted funds General fund 41,722 22,936 Restricted funds Grant for building 100,000 - TOTAL FUNDS 141,722 22,936 |
Total funds £ 124,815 16,907 141,722 31.10.19 £ 100 34,995 35,095 31.10.19 £ 281 27,144 27,425 At 31.10.20 £ 64,658 100,000 164,658 |
Total funds £ |
|---|---|---|
| 124,815 16,907 |
||
| 141,722 |
continued...
Page 7
Timperley Amateur Boxing Club
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
6. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 37,173 TOTAL FUNDS 37,173 Comparatives for movement in funds At 1.11.18 £ Unrestricted funds General fund 16,907 Restricted funds Grant for building - TOTAL FUNDS 16,907 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 44,911 Restricted funds Grant for building 100,000 TOTAL FUNDS 144,911 |
Resources Movement expended in funds £ £ (14,237) 22,936 (14,237) 22,936 Net movement At in funds 31.10.19 £ £ 24,815 41,722 100,000 100,000 124,815 141,722 Resources Movement expended in funds £ £ (20,096) 24,815 - 100,000 (20,096) 124,815 |
|---|---|
continued...
Page 8
Timperley Amateur Boxing Club
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Grant for building TOTAL FUNDS |
At 1.11.18 £ 16,907 - 16,907 |
Net movement in funds £ 47,751 100,000 147,751 |
At 31.10.20 £ 64,658 100,000 |
|---|---|---|---|
| 164,658 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 82,084 | (34,333) | 47,751 |
| Restricted funds | |||
| Grant for building | 100,000 | - | 100,000 |
| TOTAL FUNDS | 182,084 | (34,333) | 147,751 |
7. RELATED PARTY DISCLOSURES
Mrs C J Gilley, a trustee of the charity, was owed £27,118 at the year end (2019 - £27,144). This is an interest free loan to the charity with no fixed repayment date.
Page 9
Timperley Amateur Boxing Club
Detailed Statement of Financial Activities for the Year Ended 31 October 2020
| Detailed Statement of Financial Activities for the Year Ended 31 October 2020 |
||
|---|---|---|
| 31.10.20 | 31.10.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Club donations | 28,643 | 20,269 |
| Subscriptions | 4,450 | 7,420 |
| Event ticket sales | - | 6,117 |
| THT Holiday hunger project | 4,000 | 3,525 |
| Sponsorship | 80 | 7,580 |
| 37,173 | 44,911 | |
| Charitable activities | ||
| Grants | - | 100,000 |
| Total incoming resources | 37,173 | 144,911 |
| EXPENDITURE | ||
| Support costs | ||
| Finance | ||
| Bank charges | - | 15 |
| Other | ||
| Event costs | 173 | 7,448 |
| Insurance | 379 | 281 |
| Telephone | 280 | 357 |
| Postage and stationery | - | 35 |
| Advertising | 30 | 235 |
| Computer expenses | 92 | 300 |
| Training | 346 | 388 |
| Repairs | 342 | 156 |
| Equipment | 607 | 1,431 |
| Minibus expenses | 745 | 1,516 |
| THT Holiday hunger project | 4,810 | 3,349 |
| Rent | 480 | 1,720 |
| Website | 233 | 144 |
| External events | - | 2,671 |
| Sundries | - | 50 |
| Fit & Fed costs | 5,120 | - |
| Support fees | 600 | - |
| 14,237 | 20,081 | |
| Total resources expended | 14,237 | 20,096 |
| Net income | 22,936 | 124,815 |
This page does not form part of the statutory financial statements
Page 10