LUTTERWORTH ATHLETIC FC REPORT AND FINANCIAL STATEMENTS FOR THE
YEAR ENDED 31 JULY 2023
CHARITY NO: 1175765
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 JULY 2023
The Trustees present their annual report and financial statements of the charity for the year ended 31 JULY 2023. 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 JULY 2023
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 the 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 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 16th August 2024 and signed on their behalf by: Mr M English Trustee
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LUTTERWORTH ATHLETIC FC
I report on the accounts of the Trust for the year ended 31 July 2023, 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 explanations 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
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(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 FC
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR 1 JUNE 2022 TO 31[st ] JULY 2023
| 2023 Restricted Unrestricted Note Fun d Fund £ £ INCOMING RESOURCES Generalincome Propertyincome 131,106 Marketincome 0 Grant income 1,175,233 InvestmentIncome - bankinterest 0 Total Incoming Resources 1,306,339 RESOURCESEXPENDED Cost of generating funds Propertyexpenses 1,399,732 Market expenses 0 4 1,399,732 Charitable expenditure Costsof activities in furtheranceof charitableobjectives 5,178 Managementandadministration 2,332 7,510 Total ResourcesExpended 1,407,242 Net incoming resources for theyear (100,903) Netgainson investmentassets Netmovement in funds (100,903) AccumulatedFundsbrought forwardat 1 August2022 3 108,432 Accumulated Fund carried forwardat31 July 2023 3 7,529 |
2023 Restricted Unrestricted Note Fun d Fund £ £ INCOMING RESOURCES Generalincome Propertyincome 131,106 Marketincome 0 Grant income 1,175,233 InvestmentIncome - bankinterest 0 Total Incoming Resources 1,306,339 RESOURCESEXPENDED Cost of generating funds Propertyexpenses 1,399,732 Market expenses 0 4 1,399,732 Charitable expenditure Costsof activities in furtheranceof charitableobjectives 5,178 Managementandadministration 2,332 7,510 Total ResourcesExpended 1,407,242 Net incoming resources for theyear (100,903) Netgainson investmentassets Netmovement in funds (100,903) AccumulatedFundsbrought forwardat 1 August2022 3 108,432 Accumulated Fund carried forwardat31 July 2023 3 7,529 |
2022 Total Total £ £ 131,106 95,879 0 0 73,978 55,429 0 0 |
|---|---|---|
| 1,306,339 151,311 |
||
| 1,399,732 93,068 0 0 |
||
| 1,399,732 93,068 |
||
| 5,178 37,418 2,332 4,233 |
||
| 7,510 41,651 |
||
| 1,407,242 134,719 |
||
| (100,903) | (100,903) 16,592 | |
| (100,903) 108,432 |
(100,903) 16,592 108,432 91,840 |
|
| 7,529 | 7,529 108,432 |
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LUTTERWORTH ATHLETIC FC
| BALANCE SHEET AS AT 31 JULY 2023 2023 Note FIXED ASSETS Tangibleassets 2 42,545 Investments CURRENT ASSETS Debtors 251 0 Cash at bank and in hand 10,349 82 ,618 10,600 CURRENT LIABILITIES Othercreditors&provisions 45,616 75 45,616 NET ASSETS 7,529 ACCUMULATED FUNDS Unrestrictedfunds 3 7,529 |
2022 25,889 82,618 75 108,432 108,432 |
|---|---|
The accounts were approved by the Board of Trustees on and signed on its behalf by: Treasurer
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LUTTERWORTH ATHLETIC FC
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
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LUTTERWORTH ATHLETIC FC
2. Tangible fixed assets
| Netbook value At1 August 2022 Additions Depreciation As at 1 August 2022 Charge for the year Netbook value At31 July 2023 At 31 July 2022 |
Equipment Total £ £ 39,228 39,228 26,000 26,000 |
Equipment Total £ £ 39,228 39,228 26,000 26,000 |
|---|---|---|
| 65,228 65,228 |
||
| 150 150 10,785 10,785 |
||
| 10,935 10,935 |
||
| 54,293 54,293 | ||
| 39,078 39,078 |
3. Movement in funds
| Total Restricted Funds Total UnrestrictedFunds TOTAL FUNDS |
At Incoming Outgoing Investment At 1 August Resources Resources Gains 31 July 2022 2023 £ £ £ £ |
|---|---|
| 108,432 1,306,339 1,407,242 7,529 |
|
| 108,432 1,306,339 1,407,242 7,529 |
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LUTTERWORTH ATHLETIC FC
4. Cost of generating funds
| Property repairs Ground Supplies Management charges Subcontractors Rent & Rates Lightandheat Propertyinsurance Advertising Legal andprofessional Depreciation on equipment Club direct costs Markettolls Charitableexpenditure Printingandstationery Sundry expenses Accountancy |
2023 2022 £ £ 0 7,777 611,040 311 0 0 6,133 41,416 15,570 12,000 0 0 471 0 0 0 (1,360) 0 10,785 6,472 757,093 25,092 0 0 |
|---|---|
| 1,399,732 93,068 |
|
| 2023 2022 £ £ (35) 666 1 1,640 2,366 1,750 |
|
| 2,332 4,056 |
5. Charitable expenditure
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LUTTERWORTH ATHLETIC FC
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2023
| INCOME Property Market Grants EXPENDITURE General Property Market GRANTS PAID Institutions TOWN HALL GRANT INTERESTRECEIVED SURPLUS OFINCOMEFOR THE YEAR |
£ 131,106 0 1,175,233 1,399,732 7,510 0 |
2023 £ 1,306,339 1,407,242 (100,903) 0 0 0 (100,903) (100,903) |
£ 95,882 0 55,429 |
2022 £ 151,311 91,247 |
||
|---|---|---|---|---|---|---|
| 93,068 41,651 0 |
||||||
| 0 0 |
0 | |||||
| 134,719 | ||||||
| 0 0 0 |
||||||
| 0 | ||||||
| 16,592 | ||||||
| 16,592 |
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