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.
**Page -**
## **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:
- 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.
**- Page**
## **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:
- 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.
**Page-**
## **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|
**Page-**
## **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|
**Page-**
## **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
**Page-**
**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**
- 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.
- **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
- **Page**
## **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|
**- Page**