LUTTERWORTH ATHLETIC FC REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020 CHARITY
NO: 1175765
[Accountants name and address]
LUTTERWORTH ATHLETIC FC
CONTENTS
| Page | |
|---|---|
| Trustees' Report | 1- 3 |
| Independent Examiner's Report | 4 |
| StatementofFinancial Activities | s |
| Balance Sheet | 6 |
| Notesto theFinancial Statements | 7-9 |
LUTTERWORTH ATHLETIC FC
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2020
The Trustees present their annual report and financial statements of the charity for the year ended 31 MAY 2020. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's trust deed, the Charities Act 2011 and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16/07 /2014.
TRUSTEES
Mr. MICHAEL ENGLISH Mr. DAN CHECHLACZ
CHARITY ADDRESS
Hall Park Hall Lane Bitteswell Lutterworth Leicestershire LE17 4LN
REGISTERED NUMBER
1175765
STATUS AND ADMINISTRATION
LUTTERWORTH ATHLETIC FC as an entity was formed in 1993 from three members of Lutterworth juniors and youth FC; Terry Waterfield – Michael English & Stephen Rendell. In 1995 the two clubs amalgamated with the sole intention of growing the club and finding a site where all teams could play – train and meet socially.
In 2012 after extensive negotiation the then Chairman Michael English negotiated the lease to relocate the entire club to the now premises at Hall Park, Hall Lane, Lutterworth LE17 4LN. To-date the club have invested heavily in making the facility one of the best in the midlands and continues to grow the membership. The longer terms aim are to expand the facility to allow diversity across all sectors: Better provision for the disabled – the elderly – youth groups through enhanced education.
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LUTTERWORTH ATHLETIC FC
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2020
ORGANISATIONAL STRUCTURE
Lutterworth Athletic FC’s charity is administered by 2 Trustees, one appointed at point of formation and one appointed after a former Trustees resignation. The Trustees utilize the service of the club treasurer on as 'as required' basis. Both the club and the charity are managed by the elected committee for which the Chairman Michael English is Trustee. The Trustees are confident with the way in which both the club and the charity are run, and the advice given to members. Trustees expenses are covered by themselves.
OBJECTS
Subject to payment of normal expenses the Charity applies its income to the continued growth and development of the facility and its membership. Most of our Charities income is derived from sponsorship, membership and donations.
RISK ASSESSMENT
Any changes in legislation regarding our club and charity are advised to us by our governing body.
REPORT AND VALUATION
The properties/facility are all leased on a 30-year agreement. There is NO proposal for any change in this or how it is reported.
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INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF
LUTTERWORTH ATHLETIC FC
RESERVES
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
It has not been the policy of the Charity to accumulate significant unrestricted funds, as it is the aim of the Charity to distribute & invest monies for the benefit of the members and to enhance and improve the facility. However, the Trustees are very aware of the need to retain a certain amount of money to meet the needs of urgent repairs or re-development of any area to maintain a reserve for working capital requirements. All surplus funds have, over the years, been reinvested and will continue to be so, when and if available. There are no restricted or designated funds.
INVESTMENT POLICY
The trustee’s policy is to maintain the facility to the highest possible standard, thus providing consistent continuity. Any
surplus is invested in new projects, repairs and maintenance to ensure the facility is kept to its optimum level.
TRUSTEES EXPENSES
No expenses are currently allowed for in the budgets. Allowances will be made for large projects to raise funding for development work but subject to trustee agreement and NO more than 10% of money raised.
TRUSTEES RESPONSIBILITIES
The club trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently
-
observe the methods and principles in the applicable charities SORP;
-
make judgements and estimates that are reasonable and prudent
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also
responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements , may differ from legislation in other jurisdictions.
Approved by the trustees on 31[st ] JULY 2020 and signed on their behalf by: Mr M English Trustee
Page - 4 -
INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF
LUTTERWORTH ATHLETIC FC
I report on the accounts of the Trust for the year ended 31 July 2020, which are set out on pages 5 to 11.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity is preparing accrued accounts and I am qualified to undertake the examination being a qualified member of ICAEW.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking exp lanat io ns from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
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(I) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting require ments of the 2011 Act
have not been met; or
- (2) to which, in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Accountants details
Page - 5 -
LUTTERWORTH ATHLETIC FC
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR 1[st] August 2019 TO 31st July 2020
| 2020 RestrictedUnrestricted Note Fund Fund £ £ INCOMING RESOURCES Generalincome Prope rtyincome 83,839 Marketincome 3,335 InvestmentIncome - bankinterest 7 Total Incoming Resources 87,181 RESOURCESEXPENDED Cost of generating funds Proper tyexpenses 23,429 Market expenses 1,935 6 25,364 Charitable expenditure Costsof activities in furtheranceof charitableobjectives 14,750 Managementandadministration 6,607 7 21,357 Total ResourcesExpended 46,721 Net incoming resources for theyear 40,460 Netgainson investmentassets 2 Netmovement in funds 40,460 AccumulatedFundsbrought forwardatIAugust2017 4 1,447,647 Accumulated Fund carried forwardat31 July 2018 4 1,488,107 |
2019 Total Total £ £ 83,839 81,685 3,335 4,035 7 341 |
|
|---|---|---|
| 87,181 86,061 |
||
| 23,429 16,164 1,935 2,163 |
||
| 25,364 18,327 |
||
| 14,750 13,981 6,607 6,413 |
||
| 21,357 20,394 |
||
| 46,721 38,721 |
||
| 40,460 47,340 |
||
| 40,460 47,340 1,447,647 1,400,307 |
||
| 1,488,107 1,447,647 |
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LUTTERWORTH ATHLETIC FC
| BALANCE SHEET | BALANCE SHEET | |||||
|---|---|---|---|---|---|---|
| AS AT 31 JULY | 2020 | |||||
| 2020 | 2019 | |||||
| Note | ! | ! | ||||
| FIXED ASSETS | ||||||
| Investments | 2 | 1,364,585 | 1,361 | ,285 | ||
| Tangibleassets | 3 | 794 | 565 | |||
| 1,365,379 | 1,361 | ,850 | ||||
| CURRENT ASSETS | ||||||
| Debtors | 3,261 | 7,942 | ||||
| Cash at bank and in hand | 134,697 | 91,022 | ||||
| 137,958 | 98,964 | |||||
| CURRENT LIABILITIES | ||||||
| Othercreditors&provisions | 15,230 | 13,167 | ||||
| (15,230) | (13,167) | |||||
| NET ASSETS | 1,488,I07 | 1,447,647 | ||||
| ACCUMULATED FUNDS | ||||||
| Unrestrictedfunds | 4 | 1,488,I07 | 1,447,647 |
The accounts were approved by the Board of Trustees on 22 October 2018 and signed on its behalf by: Treasurer
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LUTTERWORTH ATHLETIC FC
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st July 2020
1. Accounting policies
1.1. Accounting basis
The accounts (financial statements) have been prepared in accordance with Accounting and Reporting by Cha rities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities publised on 16/07/14, the Financial Reporting Standards for Small Enities (FRSSE), and the Charities Act 2011 and applicable regualtions.
The accounts have been prepared under the historical cost convention with ite ms recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
1.2. Incoming resources
Bank interest is included in the SOFA on receipt.
Property and market income is recognised as it falls due to be received by the charity, however no account is taken of amounts receivable but not invoiced at the year end.
Other income is included when received by the charity.
1.3. Resources expended
All expenditure is accounted for on an accruals ba sis. All expenditure which is directly related to the provision of advice services is included within charitable expenditure.· o ther costs have been shown as the cost of allocated management and administration.
1.4. Tangible fixed assets and depreciation
The cost of tangible fixed assets includes only expenditure incurred in bringing the assets into working condition for their intended use. Depreciation is provided at the following annual rates in order to allocate the depreciable amount of each asset over its estimated useful life:
Equ ipment 15 % per annum of net book value
2. Investments
Investment properties
| £ | |
|---|---|
| AtIAugust 2017-aspreviously valued | 1,361,285 |
| Additions | 3,300 |
| at 31July 2018 | 1,364,585 |
All investment assets are held in the United Kingdom.
The investment propertie s were last professionally valued on 14th September 2005. No subsequent valuations have been carried out. (See Report and Valuation ). The add itions shown relect costs of planning for the museum project.
Page - 7 -
LUTTERWORTH ATHLETIC FC
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st July 2020
3. Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Netbook value At1 August 2017 Additions Depreciation Chargeforthe year Netbook value At31 July 2018 |
Equipment Total £ £ 565 565 379 379 |
| 944 944 (150) |
|
| 794 794 |
4. Movement in funds
| Movement in funds | |
|---|---|
| Total Restricted Funds Total UnrestrictedFunds TOTAL FUNDS |
At Incoming Outgoing Investment At 1 August Resources Resources Gains 31 July 2020 2019 £ £ £ £ |
| 1,447,647 87,181 46,721 1,488,I 07 |
|
| 1,447,647 87,181 46,721 1,488,107 |
5. Town Hall Grant
| 2018 | |
|---|---|
| £ | |
| TownHallCharityGrant | 12,000 |
This year £12 ,000 has been paid to the Town Hall Charity, in accordance with a legal agreement dated 25th July 2017. This agreement is to cover five years and will come to an end on 31st July 202 l. Under the tenns of the agreement the sum of£ 12,000 is the fixed and certain don ation for each year. Dur ing 2021 further negotiations are to take place with regard to the terms of any sucee ding agreement.
Page - 8 -
LUTTERWORTH ATHLETIC FC
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st July 2020
6. Cost of generating funds
| 2020 £ Property repairs 8,286 Cleaning 131 Management charges 8,685 Rates 280 Lightandheat 568 Propertyinsurance 2,273 Advertising 20 Legal andprofessional 3,036 Depreciation on equipment 150 Marketwages 1,020 Markettolls 915 25,364 Charitableexpenditure 2020 £ Grants- Institutions 2,750 Townhall donations upcomingyear 12,000 Bookkeeping and administration 3,852 Telephone 745 Printingandstationery 288 Sundry expenses 402 Accountancy 1,320 21,357 |
2019 £ 4,609 244 7,789 266 550 2,196 20 384 106 1,145 1,018 |
|---|---|
| 18,327 | |
| 2019 £ 1,981 12,000 3,491 607 322 361 1,6 32 20,394 |
7. Charitable expenditure
Page - 9 -
LUTTERWORTH ATHLETIC FC
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2020
| INCOME £ Property 83,839 Market 3,335 EXPENDITURE General 6,607 Property 23,429 Market 1,935 GRANTS PAID Institutions 2,750 TOWN HALL GRANT Per note5 12,000 BANKINTERESTRECEIVED SURPLUS OFINCOMEFOR THE YEAR |
2020 £ 87,174 (31,971) 55,203 (2,750) (12,000) 7 (14,743) 40,460 |
£ 81,685 4,035 |
) ) 2019 £ 85,720 (24,740 60,980 (1,98I (I2,000) 341 (13,640) 47,340 |
||
|---|---|---|---|---|---|
| 6,413 16,164 2,163 |
|||||
| 1,98 1 | |||||
| 12,000 | |||||
Page - 10 -
LUTTERWORTH ATHLETIC FC
OVERHEAD EXPENSES FOR THE YEAR ENDED 31 JULY 2020
| 2020 £ GENERAL EXPENSES Bookkeeping andadministration 3,852 Telephone 745 Printing andstationery 288 Sundry expenses 402 Accountancy 1,320 6,607 PROPERTYEXPENSES Property repairs 8,286 Cleaning 131 Management charges 8,685 Rates 280 Lightandheat 568 Property insurance 2,273 Advertising 20 Legalandprofessional 3,036 Depreciation onequipment 150 23,429 MARKET EXPENSES Market wages 1,020 Markettolls 915 1,935 |
2019 £ 3,491 607 322 361 1,632 |
|---|---|
| 6,413 | |
| 4,609 244 7,789 266 550 2,196 20 384 106 |
|
| 16,164 | |
| 1,145 1,018 |
|
| 2,163 |
Page - 11 -
| 2019/20 | 2018/19 | 2018/19 | |
|---|---|---|---|
| Income | |||
| Membership Fees | 5,020.00 £ |
4,540.00 £ |
480.00 £ |
| Annual Fees | 57,839.13 £ |
49,103.83 £ |
8,735.30 £ |
| Donations/Prize/Gate | 17,432.45 £ |
12,206.11 £ |
5,226.34 £ |
| Sponsors/Fundraisers | 9,792.30 £ |
1,197.47 £ |
8,594.83 £ |
| Gift Aid | - £ |
- £ |
- £ |
| Interest on Savings | 6.34 £ |
0.34 £ |
6.00 £ |
| Total | 90,090.22 £ |
67,047.75 £ |
23,042.47 £ |
| Expenditure | |||
| Rent | 11,265.00 £ |
10,291.67 £ |
973.33 £ |
| Training | 8,177.64 £ |
7,325.50 £ |
852.14 £ |
| Maintenance | 13,993.41 £ |
11,634.03 £ |
2,359.38 £ |
| Club Costs | 16,920.35 £ |
4,549.61 £ |
12,370.74 £ |
| Mower Costs | 10,000.00 £ |
- £ |
10,000.00 £ |
| Affilliation | 564.00 £ |
301.00 £ |
263.00 £ |
| League Registration | 1,622.20 £ |
605.00 £ |
1,017.20 £ |
| Player Reg/Transfers | 207.00 £ |
61.00 £ |
146.00 £ |
| Other Cup Comps | 491.00 £ |
630.00 £ |
(139.00) £ |
| Referees | 4,184.05 £ |
4,894.50 £ |
(710.45) £ |
| Fines | 2,020.00 £ |
694.92 £ |
1,325.08 £ |
| Kit & Equipment | 12,972.81 £ |
14,012.06 £ |
(1,039.25) £ |
| Presentation | 1,386.19 £ |
1,627.65 £ |
(241.46) £ |
| Tournaments | 318.25 £ |
780.90 £ |
(462.65) £ |
| Admin/CRB's | 230.00 £ |
130.00 £ |
100.00 £ |
| Training Courses | 525.00 £ |
657.00 £ |
(132.00) £ |
| Christmas Presents | 1,472.34 £ |
360.00 £ |
1,112.34 £ |
| Travel/Player Expense/Fees | 435.60 £ |
250.00 £ |
185.60 £ |
| Total | 86,784.84 £ |
58,804.84 £ |
27,980.00 £ |
| 3,305.38 £ 8,227.91 £ |
|||
| PROFIT/(LOSS) FOR YEAR | 3,305.38 £ |
8,227.91 £ |
|
| CURRENT ASSETS | |||
| Club Account LLOYDS | 3,917.00 £ |
6,655.50 £ |
|
| Bank Account NATWEST | 6,401.71 £ |
5,385.00 £ |
|
| Acorn SENIORS | 2,740.61 £ |
376.21 £ |
|
| Savings | 1,035.00 £ |
1,032.91 £ |
|
| Cash | 76.89 £ |
196.00 £ |
|
| Teams Cash | 1,993.00 £ |
- £ |
|
| MAINTENANCE POT | 3,507.29 £ |
2,620.50 £ |
|
| Total | 19,671.50 £ |
16,366.12 £ |
|
| REPRESENTED BY | |||
| Reserves brought forward | 16,366.12 £ |
8,038.21 £ |
|
| Surplus/Deficit For This Season | 3,305.38 £ |
8,227.91 £ |
|
| Reserves carried forward | 19,671.50 £ |
16,266.12 £ |
Marcus Crone ACMA, CGMA Hampton House Stoney Stanton 07974202972 Marcus.j.crone@gmail.com
Mark Weston (Treasurer)
Lutterworth Athletic Football Club 45B, Swiftway, Lutterworth Leics LE17 4PA
Dear Mark,
I have performed an independent examination and confirm that the figures attached hereto show a true and fair view of the charity’s operation for the year ended 31/07/2020. The surplus for the year was £3,305.38 and the total reserves as at 31/07/2020 were £19,671.50.
With regards,
Marcus J Crone ACMA, CGMA