LUTTERWORTH ATHLETIC FC
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR
ENDED 31 JULY 2021
CHARITY NO: 1175765
[Accountants name and address]
LUTTERWORTH ATHLETIC
CONTENTS
| Page | |
|---|---|
| Trustees' Report | 1- 3 |
| Independent Examiner's Report | 4 |
| StatementofFinancial Activities | s |
| Balance Sheet | 6 |
| Notesto theFinancial Statements | 7-9 |
LUTTERWORTH ATHLETIC
TRUSTEES' REPORT FOR THE YEAR ENDED 31
The Trustees present their annual report and financial statements of the charity for the year ended 31 JULY 2021. 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 Lutterwort h Leicesters hire 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. Todate 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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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.
INDEPENDENT EXAMINERS' REPORT TO THE
LUTTERWORTH ATHLETIC
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:
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select suitable accounting policies and then apply them consistently
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observe the methods and principles in the applicable charities SORP;
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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
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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
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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.
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INDEPENDENT EXAMINERS' REPORT TO THE
LUTTERWORTH ATHLETIC
Approved by the trustees on 31[st ] JULY 2020 and signed on their behalf by: Mr M English Trustee
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LUTTERWORTH ATHLETIC
I report on the accounts of the Trust for the year ended 31 July 2021, 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:
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examine the accounts under section 145 of the 2011 Act;
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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
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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.
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LUTTERWORTH ATHLETIC
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR 1 JUNE 2020 TO 31[st ] JULY 2021
| 2021 Restricted Unrestricted Note Fun d Fun d £ £ INCOMING RESOURCES Generalincome Prope rty income 92,849 Marketincome 3,648 Grant income 36,707 InvestmentIncome - bankinterest 0 Total Incoming Resources 133,204 RESOURCESEXPENDED Cost of generating funds Propertyexpenses 45,936 Market expenses 0 6 45,936 Charitable expenditure Costsof activities in furtheranceof charitableobjectives 40,460 Managementandadministration 6,351 7 46,811 Total ResourcesExpended 92,747 Net incoming resources for theyear 40,457 Netgainson investmentassets 2 Netmovement in funds 40,457 |
2020 Total Total £ £ 83,839 83,839 3,335 3,335 36,707 0 7 7 |
|
|---|---|---|
| 133,204 87,181 |
||
| 38,121 23,429 0 1,935 |
||
| 38,121 25,364 |
||
| 40,460 14,750 4,850 6,607 |
||
| 45,311 21,357 |
||
| 91,247 46,721 |
||
| 41,957 40,460 |
||
| 40,457 40,460 |
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LUTTERWORTH ATHLETIC
| AccumulatedFundsbrought forwardatIAugust 2020 4 Accumulated Fund carried forwardat 31 July 2021 4 |
51,383 91,840 |
51,383 10,9 23 |
|---|---|---|
| 91,840 51,383 |
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LUTTERWORTH ATHLETIC
| BALANCE SHEET AS AT 31 JULY 2021 2021 Note FIXED ASSETS Tangibleassets 3 31,262 CURRENT ASSETS Debtors 6,145 3,261 Cash at bank and in hand 60 ,769 62,558 66,914 CURRENT LIABILITIES Othercreditors&provisions 6 ,336 15 ,230 4,836 NET ASSETS 91,840 ACCUMULATED FUNDS Unrestrictedfunds 4 91,840 |
2020 794 65,819 15,230 51,383 51,383 |
|---|---|
The accounts were approved by the Board of Trustees on and signed on its behalf by: Treasurer
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LUTTERWORTH ATHLETIC
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST]
1. Accounting policies
1.1. Accounting basis
The accounts (financial statements) have been prepared in accordance with 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 16/07/14, the Financial Reporting Standards for Small Entities (FRSSE), and the Charities Act 2011 and applicable regulations.
The accounts have been prepared under the historical cost convention with items 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
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All expenditure is accounted for on an accruals basis. All expenditure which is directly related to the provision of advice services is included within charitable expenditure. Other costs have been shown as the cost of allocated management and administration.
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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:
Equipment
20 % per annum of net book value
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2. Tangible fixed assets
| Netbook value At1 August 2020 Additions Depreciation As at 1 August 2020 Charge for the year Netbook value At31 July 2021 At 31July 2020 |
Equipme nt Total £ £ 944 944 38,283 38,283 |
Equipme nt Total £ £ 944 944 38,283 38,283 |
|---|---|---|
| 39,227 39,227 |
||
| 7,815 | 150 150 7,815 7,815 |
|
| 7,965 | ||
| 31,262 31,262 |
||
| 794 794 |
3. Movement in funds
| At | Incomin | Outgoing | At | |
|---|---|---|---|---|
| g | Investment | |||
| 1 | Resourc | Resources Gains | 31 July | |
| August | es | |||
| 2020 | 2021 | |||
| £ | £ | £ | £ |
Total Restricted Funds
| Total UnrestrictedFunds TOTAL FUNDS |
51,383 133,204 91,247 93,340 |
|---|---|
| 51,383 133,204 91,247 93,340 |
4. Cost of generating funds
| Property repairs Cleaning Ground Supplies Management charges Subcontractors Rent & Rates Lightandheat Propertyinsurance Advertising Legal andprofessional Depreciation on equipment Marketwages Markettolls 7. Charitableexpenditure Grants- Institutions Townhall donations upcomingyear Bookkeeping and administration Telephone Printingandstationery Sundry expenses Accountancy |
2021 2020 £ £ 4,885 8,286 0 131 227 0 0 8,685 21,652 0 11,000 280 0 568 357 2,273 0 20 0 3.036 7,815 150 0 1,020 0 915 |
2021 2020 £ £ 4,885 8,286 0 131 227 0 0 8,685 21,652 0 11,000 280 0 568 357 2,273 0 20 0 3.036 7,815 150 0 1,020 0 915 |
2021 2020 £ £ 4,885 8,286 0 131 227 0 0 8,685 21,652 0 11,000 280 0 568 357 2,273 0 20 0 3.036 7,815 150 0 1,020 0 915 |
|---|---|---|---|
| 45,936 | 25,364 | ||
| 2021 £ 0 0 485 101 1,229 10 1500 3,325 |
2020 £ 2,750 12,000 3,852 745 288 402 1,320 |
||
| 20,394 |
LUTTERWORTH ATHLETIC FC
| INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31JULY 2021 INCOME £ 202 1 £ £ Property 92,849 83,83 9 Market 3,64 8 3,335 Grants 36,70 7 0 133,204 EXPENDITURE General 40,46 0 6,607 Property 23,42 9 23,42 9 Market 1,935 1,935 91,247 41,957 GRANTS PAID Institutions 0 2,750 0 TOWN HALL GRANT Per note5 0 12,000 0 KINTERESTRECEIVED 0 41,957 |
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31JULY 2021 INCOME £ 202 1 £ £ Property 92,849 83,83 9 Market 3,64 8 3,335 Grants 36,70 7 0 133,204 EXPENDITURE General 40,46 0 6,607 Property 23,42 9 23,42 9 Market 1,935 1,935 91,247 41,957 GRANTS PAID Institutions 0 2,750 0 TOWN HALL GRANT Per note5 0 12,000 0 KINTERESTRECEIVED 0 41,957 |
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31JULY 2021 INCOME £ 202 1 £ £ Property 92,849 83,83 9 Market 3,64 8 3,335 Grants 36,70 7 0 133,204 EXPENDITURE General 40,46 0 6,607 Property 23,42 9 23,42 9 Market 1,935 1,935 91,247 41,957 GRANTS PAID Institutions 0 2,750 0 TOWN HALL GRANT Per note5 0 12,000 0 KINTERESTRECEIVED 0 41,957 |
202 0 £ 87,174 31,971 |
|
|---|---|---|---|---|
| 6,607 23,42 9 1,935 |
||||
| 2,750 | ||||
| 55,203 | ||||
| 2,750 12, 000 7 |
||||
| 12,000 | ||||
| 40,460 |
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LUTTERWORTH ATHLETIC FC
OVERHEAD EXPENSES FOR THE YEAR ENDED 31 JULY 2021
| GENERAL EXPENSES Bookkeeping and administration Telephone Subscriptions Printing andstationery Bank charges Motor Expenses Sundry expenses Accountancy PROPERTYEXPENSES Property repairs Subcontractors Cleaning Management charges Rent and rates Lightandheat Property insurance Ground supplies Advertising Legalandprofessional Depreciation onequipment MARKET EXPENSES Market wages Markettolls |
2021 2020 £ £ 0 3,852 101 745 2,102 0 1,229 288 230 0 695 0 10 402 485 1,320 |
|---|---|
| 5,337 6,607 |
|
| 4,885 8,286 21,652 0 0 131 0 8,685 11,000 280 0 568 357 2,273 227 0 0 20 0 3,036 7815 150 |
|
| 23,429 23,249 |
|
| 0 1,020 0 915 |
|
| 0 1,935 |
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