**REGISTERED CHARITY NUMBER: 1175662**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 October 2022**
**for**
**Timperley Amateur Boxing Club**
Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SK1 1YJ
**Timperley Amateur Boxing Club**
## **Contents of the Financial Statements for the Year Ended 31 October 2022**
||**Page**|
|---|---|
|**Report of the trustees**|1 to 2|
|**Independent examiner's report**|3|
|**Statement of financial activities**|4|
|**Balance sheet**|5 to 6|
|**Notes to the financial statements**|7 to 13|
**Timperley Amateur Boxing Club**
## **Report of the Trustees for the Year Ended 31 October 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 October 2022. 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 objects 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 conditions 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 an techniques as a means of improving health and fitness and encouraging people to make healthy life choices.
## **Significant activities**
In financial year ending 31 October 2022, the main aim of the Trustees was to oversee the build of the gym extension. The extension will allow Timperley ABC to be able to offer classes to more students, which will have an undoubted positive impact on the mental and physical wellbeing of young people in the local area. Building work commenced in January 2022, however, this unfortunately stopped in March 2022, due to issues with the structural engineer's drawings. The builder left site and, despite numerous promises, did not return. After a lot of hard work on the Trustees part, a new tender process has since taken place with a new builder appointed in December 2023. Further funding has been agreed via Sport England and the building work restarted in January 2024.
## **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 reserves should be not less than six months anticipated expenditure. On this basis the current requirement is £12,600 (£2021 £8,000). The trustees have ring fenced £50,700 (2021 £50,700) of donations and sponsorship towards the new building cost. Actual free reserves at the balance sheet date amounted to £61,634 (2021 £22,596) 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.
Page 1
**Timperley Amateur Boxing Club**
## **Report of the Trustees for the Year Ended 31 October 2022**
## **Structure, governance and management**
## **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 th year the trustees have kept in mind the Charity Commission's guidelines on public benefit and the objectives of the charity.
## **Reference and administrative details**
## **Registered Charity number**
1175662
## **Principal address**
105 Mainwood Road Timperley Altrincham Cheshire WA15 7JU
## **Trustees**
B S Flynn A Graham (appointed 1.5.23) M Davidson (appointed 20.5.23) N M Berry (appointed 20.5.23) Mrs C Gilley (resigned 3.2.23) A McHale (resigned 6.2.23)
## **Independent Examiner**
Nicola Joyce ACA FCCA Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SK1 1YJ
Approved by order of the board of trustees on 30 May 2024 and signed on its behalf by:
M Davidson - 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 2022.
## **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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Nicola Joyce ACA FCCA The Institute of Chartered Accountants in England and Wales
Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SK1 1YJ
31 May 2024
Page 3
## **Timperley Amateur Boxing Club**
## **Statement of Financial Activities for the Year Ended 31 October 2022**
|Unrestricted
funds
Notes
£
**Income and endowments from**
Donations and legacies
**43,272**
**Charitable activities**
Sporting activites
**3,200**
THT Holiday hunger project
**6,000**
Gym extension
**-**
Other trading activities
2
**11,840**
**Total**
**64,312**
**Expenditure on**
Raising funds
**5,690**
**Charitable activities**
3
Sporting activites
**10,500**
THT Holiday hunger project
**2,354**
Other
**6,730**
**Total**
**25,274**
**NET INCOME**
**39,038**
**Reconciliation of funds**
Total funds brought forward
**73,296**
**Total funds carried forward**
**112,334**|Restricted
fund
£
**115,000**
**-**
**-**
**60,000**
**-**
**175,000**
**-**
**-**
**-**
**-**
**-**
**175,000**
**100,000**
**275,000**|**31.10.22**
**Total**
**funds**
**£**
**158,272**
**3,200**
**6,000**
**60,000**
**11,840**
**239,312**
**5,690**
**10,500**
**2,354**
**6,730**
**25,274**
**214,038**
**173,296**
**387,334**|31.10.21
Total
funds
£
14,371
-
4,720
-
-|
|---|---|---|---|
||||19,091|
||||-
2,005
6,892
1,556|
||||10,453|
||||8,638
164,658|
||||173,296|
The notes form part of these financial statements
Page 4
## **Timperley Amateur Boxing Club**
## **Balance Sheet**
## **31 October 2022**
|Unrestricted
funds
Notes
£
**Fixed assets**
Tangible assets
7
**2,025**
**Current assets**
Debtors
8
**24,165**
Cash at bank and in hand
**117,921**
**142,086**
**Creditors**
Amounts falling due within one year
9
**(31,777)**
**Net current assets**
**110,309**
**Total assets less current liabilities**
**112,334**
**NET ASSETS**
**112,334**|Restricted
fund
£
**159,278**
**60,000**
**55,722**
**115,722**
**-**
**115,722**
**275,000**
**275,000**|**31.10.22**
**Total**
**funds**
**£**
**161,303**
**84,165**
**173,643**
**257,808**
**(31,777)**
**226,031**
**387,334**
**387,334**|31.10.21
Total
funds
£
-
43,071
158,924
201,995
(28,699)
173,296
173,296
173,296|
|---|---|---|---|
The notes form part of these financial statements
Page 5
continued...
**Timperley Amateur Boxing Club**
## **Balance Sheet - continued**
## **31 October 2022**
|**Funds**
11
Unrestricted funds
Restricted funds
**Total funds**|**112,334**
**275,000**
**387,334**|73,296
100,000|
|---|---|---|
|||173,296|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 May 2024 and were signed on its behalf by:
M Davidson - Trustee
N M Berry - Trustee
A Graham - Trustee
The notes form part of these financial statements
Page 6
**Timperley Amateur Boxing Club**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **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.
Grants are accounted for an a receivable basis.
Donated assets are recorded at market value when entitlement to the assets is transferred to the charity.
## **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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Building Under Construction - not provided Motor vehicles - 25% on reducing balance
Expenditure in respect of the new building is capitalised when incurred. No depreciation is provided whilst the building is under construction and on completion this will be assessed by the trustees and depreciation will be provided when the asset is brought into use.
## **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.
Designated funds have been ring fenced by the trustees towards future expenditure on the costs of the new building.
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.
continued...
Page 7
**Timperley Amateur Boxing Club**
## **Notes to the Financial Statements - continued for the Year Ended 31 October 2022**
## **1. Accounting policies - continued**
## **Fund accounting**
The restricted funds relate to the building work in connection with the gym extension, details of which are included in the trustees report.
## **2. Other trading activities**
|**Other trading activities**|||
|---|---|---|
||**31.10.22**|31.10.21|
||**£**|£|
|Fundraising events|**11,840**|-|
## **3. Charitable activities costs**
|||Direct|
|---|---|---|
|||Costs (see|
|||note 4)|
|||£|
|Sporting activites||**10,500**|
|THT Holiday hunger project||**2,354**|
|||**12,854**|
|**Direct costs of charitable activities**|||
||**31.10.22**|31.10.21|
||**£**|£|
|Membership and permits|**658**|-|
|Trophies|**579**|-|
|Training|**5,600**|368|
|Equipment|**1,323**|2,115|
|Club clothing|**665**|-|
|THT Holiday hunger project|**2,354**|4,777|
|Motor and travel expenses|**1,000**|1,637|
|Depreciation|**675**|-|
||**12,854**|8,897|
## **4. Direct costs of charitable activities**
continued...
Page 8
**Timperley Amateur Boxing Club**
## **Notes to the Financial Statements - continued for the Year Ended 31 October 2022**
## **5. Trustees' remuneration and benefits**
There were no trustees' remuneration or other benefits for the year ended 31 October 2022 nor for the year ended 31 October 2021.
## **Trustees' expenses**
Expenses amounting to £4,022 (2021 £Nil) in respect of coaching training and telephone costs were reimbursed to two of the trustees during the year.
## **6. Comparatives for the statement of financial activities**
|Unrestricted
funds
£
**Income and endowments from**
Donations and legacies
14,371
**Charitable activities**
THT Holiday hunger project
4,720
**Total**
19,091
**Expenditure on**
**Charitable activities**
Sporting activites
2,005
THT Holiday hunger project
6,892
Other
1,556
**Total**
10,453
**NET INCOME**
8,638
**Reconciliation of funds**
Total funds brought forward
64,658
**Total funds carried forward**
73,296|Restricted
fund
£
-
-
-
-
-
-
-
-
100,000
100,000|Total
funds
£
14,371
4,720|
|---|---|---|
|||19,091|
|||2,005
6,892
1,556|
|||10,453|
|||8,638
164,658|
|||173,296|
continued...
Page 9
**Timperley Amateur Boxing Club**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 October 2022**
## **7. Tangible fixed assets**
|Building
Under
Motor
Construction
vehicles
£
£
**Cost**
Additions
**159,278**
**2,700**
**Depreciation**
Charge for year
**-**
**675**
**Net book value**
At 31 October 2022
**159,278**
**2,025**
At 31 October 2021
-
-
**8.**
**Debtors: amounts falling due within one year**
**31.10.22**
**£**
Other debtors
**-**
VAT
**23,287**
Prepayments and accrued income
**60,878**
**84,165**
**9.**
**Creditors: amounts falling due within one year**
**31.10.22**
**£**
Trade creditors
**-**
Other creditors
**31,777**
**31,777**
**10.**
**Leasing agreements**
Minimum lease payments under non-cancellable operating leases fall due as follows:
**31.10.22**
**£**
Within one year
**480**|Totals
£
**161,978**|
|---|---|
||**675**|
||**161,303**|
||-|
||31.10.21
£
935
-
42,136
43,071
31.10.21
£
1,581
27,118
28,699
31.10.21
£
-|
continued...
Page 10
## **Timperley Amateur Boxing Club**
## **Notes to the Financial Statements - continued for the Year Ended 31 October 2022**
|**11.**
**Movement in funds**
**Unrestricted funds**
General fund
Designated fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**
Net movement in funds, included in the above
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|At
1.11.21
£
**73,296**
**-**
**73,296**
**100,000**
**173,296**
are as follows:|Net
movement
in funds
£
**39,038**
**-**
**39,038**
**175,000**
**214,038**
Incoming
resources
£
**64,312**
**175,000**
**239,312**
At
1.11.20
£
64,658
100,000
164,658|Transfers
between
At
funds
31.10.22
£
£
**(50,700)**
**61,634**
**50,700**
**50,700**
**-**
**112,334**
**-**
**275,000**
**-**
**387,334**
Resources
Movement
expended
in funds
£
£
**(25,274)**
**39,038**
**-**
**175,000**
**(25,274)**
**214,038**
Net
movement
At
in funds
31.10.21
£
£
8,638
73,296
-
100,000
8,638
173,296|
|---|---|---|---|
continued...
Page 11
**Timperley Amateur Boxing Club**
## **Notes to the Financial Statements - continued for the Year Ended 31 October 2022**
## **11. Movement in funds - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
A current year 12 months and prior year 12 months combined
At
1.11.20
£
**Unrestricted funds**
General fund
64,658
Designated fund
-
64,658
**Restricted funds**
Restricted fund
100,000
**TOTAL FUNDS**
164,658|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
19,091
(10,453)
8,638
19,091
(10,453)
8,638
position is as follows:
Net
Transfers
movement
between
At
in funds
funds
31.10.22
£
£
£
47,676
(50,700)
61,634
-
50,700
50,700
47,676
-
112,334
175,000
-
275,000
222,676
-
387,334|
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
83,403
175,000
258,403|Resources
Movement
expended
in funds
£
£
(35,727)
47,676
-
175,000
(35,727)
222,676|
|---|---|---|
continued...
Page 12
**Timperley Amateur Boxing Club**
## **Notes to the Financial Statements - continued for the Year Ended 31 October 2022**
## **12. Related party disclosures**
Mrs C J Gilley, a trustee of the charity until 3 February 2023, was owed £27,118 at the year end (2021 - £27,118). This is an interest free loan to the charity and has been repaid in full since the balance sheet date.
Donations received includes a sum of £2,700 being the market value of a minibus donated by M Davidson, a trustee of the charity.
Page 13