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.
- **Page - 1**
## **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.
- **Page - 2**
## **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
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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
- 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:
- (I) which gives me reasonable cause to believe that in any material respect the requirements:
- 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|
- **Page- 5**
## **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
- **Page- 6**
**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