OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Registered number: CE012587 Charity number: 1176158

BRIGHTER FUTURES THROUGH SPORT (A COMPANY LIMITED BY GUARANTEE)

UNAUDITED

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

CONTENTS

__________

Pages
Reference and administrative details of the company, its trustees and advisers 1
Trustees’ report 2 - 4
Independent examiner’s report 5 - 6
Statement of financial activities incorporating income and expenditure account
7
Balance sheet 8
Notes to the financial statements 9 - 16

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

__________

Legal and administrative information

Trustees Mr James Wood, Trustee Mr Lee Canoville, Trustee Mr Stuart James Bestwick, Trustee (Resigned on 20 July 2021) Ms Danielle Chulan, Trustee Mr Billy Shaw, Trustee (Resigned on 31 December 2021) Mr Danny Thomas, Trustee (Appointed on 01 March 2022) Mr David Pendle, Trustee (Appointed on 01 March 2022)

Registered company number CE012587 Registered charity number 1176158 Registered office Unit 3 Victoria Road, Netherfield, NG4 2LA Independent examiner UHY Hacker Young LLP, 14 Park Row, Nottingham, NG1 6GR

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

__________

The Trustees present their annual report together with the financial statements of the company for the year ended 31 December 2021. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company’s governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published in October 2019.

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013 is not required.

Objectives and Activities

The Principle objectives of the charity are:

Achievements and performance

We are now in 28 schools and have carried out more individual interventions due to the effect of coronavirus and the increase of anxiety that was shown by children.

Financial review

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

__________

Financial review (continued)

The results for the year ended 31 December 2021 are detailed on pages 7 to 16. A surplus of £27,642 arose during the year.

Reserves policy

The trustees recognise that they should manage income and expenditure to build a reserve to cover core costs and contingencies. The trustees aim to ensure that the charity has free reserves to meet the operational costs for at least three months. At the balance sheet date, the charity has free reserves of £59,091 (2020 - £30,715) which represents the net current assets position.

Structure, governance and management

a. Constitution

The company is registered as a company limited by guarantee.

The company is constituted under a Trust deed and is a registered charity number 1176158.

The principal object of the company is to provide education, in particular physical education, for young people.

Brighter Futures Through Sport is a Charitable Incorporated Organisation (CIO). Trustees are appointed via a unanimous vote of the current Board of Trustees. New Trustees are appointed to the Board if they can demonstrate a desired skill set and/or relevant industry sector experience that would add value to the Board.

Trustees’ responsibilities statement

The Trustees (who are also directors of Brighter Futures Through Sport for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Trustees are required to:

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

__________

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees on 26 October 2022 and signed on their behalf by:

Lee Canoville Trustee

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

__________

Independent examiner’s report to the Trustees of Brighter Futures Through Sport (the “company”)

I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2021, which are set out on pages 7 to 16.

This report is made solely to the company’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company’s Trustees those matters I am required to state to them in an Independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company’s Trustees as a body, for my work or for this report.

Responsibilities and basis of report

As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”)

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts carried out under section 145 of the Charities Act 2011 (“the 2011 Act “). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. Accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. The accounts do not accord with those records; or

  3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a “true and fair” view which is not a matter considered as part of an independent examination; or

  4. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

__________

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

David Allum

for and on behalf of

UHY Hacker Young, Statutory Auditor

14 Park Row Nottingham NG1 6GR

Date: 26 October 2022

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

__________

Note Unrestricted Total funds Total funds
funds 2021 2021 2020
£ £ £
Incoming resources
Donations and legacies 2 44,056 44,056 2,050
Charitable activities 3 129,828 129,828 92,026
Government grants 3 33,324 33,324 12,106
__ __ __
Total income 207,208 207,208 106,182
__ __ __
Resources expended
Charitable activities 4 172,407 172,407 95,227
Support costs 5 4,945 4,945 12,600
Governance costs 6 2,214 2,214 2,385
Events costs 7 - - 250
__ __ __
Total expenditure 179,566 179,566 110,462
__ __ __
Net movement in funds 27,642 27,642 (4,280)
Reconciliation of funds:
Total funds brought forward 32,182 32,182 36,462
__ __ __
Total funds carried forward 59,824 59,824 32,182
__ __ __

The notes on pages 9 to 16 form part of these financial statements

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

BALANCE SHEET AS AT 31 DECEMBER 2021

__________

2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 9 733 1,467
Current assets
Debtors 10 1,237 5,784
Cash at bank and in hand 61,631 29,732
__ __
62,868 35,516
Creditors:amounts falling due 11 (3,777) (4,801)
within one year
__ __
Net current assets/ (liabilities) 59,091 30,715
__ __
Total net assets/(liabilities) 59,824 32,182
__ __
Funds of the Charity
Unrestricted funds 12 59,824 32,182
Restricted funds 12 - -
__ __
Total funds 59,824 32,182
__ __

The company’s financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 (“the Act”) and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on 26 October 2022 and signed on their behalf, by:

Lee Canoville

Trustee

The notes on pages 9 to 16 form part of these financial statements.

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

1.1 Basis of preparation of financial statements

The 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 applicable in the UK and Republic of Ireland (FRS 102) published in October 2019 affecting reporting periods beginning on or after 1 January 2019, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

Brighter Futures Through Sport meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Company status

The company is a company limited by guarantee incorporated in England within the United Kingdom. The address of the company’s registered office is detailed on page 1 of these financial statements.

The members of the company are the Trustees named on page 1 of these financial statements. In the event of the company being wound up, the liability in respect of the guarantee is £Nil.

A description of the nature of the charity’s operations and its principal activities is given in the trustees report within these financial statements.

1.3 Going concern

These financial statements have been prepared on a going concern basis, which assumes that the company will continue to trade. If the company were unable to trade, adjustments would have to be made to reduce the values of assets to their recoverable amount and to provide for further liabilities that might arise.

1.4 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognized and refer to the Trustees’ report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognized on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the year of receipt.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

__________

Other income is recognised in the year in which it is receivable and to the extent the goods have been provided or on completion of the service.

Grant income is recognised in line with the performance model.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Support costs are those costs incurred directly in support of expenditure on the objects of the company. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the company’s operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

Expenditure in the comparative is inclusive of irrecoverable VAT. The company registered for VAT in the current year.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements – 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .

1.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.8 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.10 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.11 Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. Income from donations and legacies

Unrestricted
funds 2021
£
Donations
44,056
_		 Restricted
funds 2021
£
-
_		 Total funds
2021
Total funds
2020
£
£
44,056
2,050
_
_

Income from donations and legacies includes £nil (2020 - £nil) of restricted income and £44,056 (2020 - £2,050) of unrestricted income.

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

__________

3. Income from charitable activities & government grants

Unrestricted Restricted Total funds Total
funds 2021 funds 2021 2021 funds
2020
£ £ £ £
Charitable activities
Provision of mentoring services to schools 129,828 - 129,828 83,076
Active Partners Grant - - - 3,450
National Lottery Grant - - - 5,500
Foyle Foundation 6,000 - 6,000 -
Government grants
Coronavirus Job Retention Scheme - - - 2,106
Small Business Coronavirus Cash grant 27,324 - 27,324 10,000
__ __ __ __
163,152 - 163,152 104,132
__ __ __ __

Income from charitable activities and government grants includes £nil (2020 - £nil) of restricted income and £163,152 (2020 - £104,132) of unrestricted income.

4. Direct costs

Direct cost Total 2021 Total 2020
£ £ £
Service provider 172,407
_		 172,407
_		 95,227
_

Direct costs includes £nil (2020 - £nil) of restricted expenditure and £172,407 (2020 - £95,227) of unrestricted expenditure.

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

__________

5. Support costs

5.
Support costs
Support cost Total 2021 Total 2020
£ £ £
Marketing 11 11 1,845
Repairs - - 1,300
Training - - 70
Depreciation 734 734 734
Employee remuneration - - 4,000
Employee National Insurance Employer’s contribution - - 51
Rent 4,200 4,200 4,200
Insurance - - 400
__ __ __
4,945 4.945 12,600
__ __ __

Support costs includes £nil (2020 - £nil) of restricted expenditure and £4,945 (2020 - £12,600) of unrestricted expenditure.

6. Governance costs

Unrestricted Unrestricted Restricted Total funds Total
funds 2021 funds 2021 2021 funds
2020
£ £ £ £
Accountancy costs 644 - 644 915
Independent examination costs 1,570 - 1,570 1,470
__ __ __ __
2,214 - 2,214 2,385
__ __ __ __

Governance costs includes £nil (2020 - £nil) of restricted expenditure and £2,214 (2020 - £2,385) of unrestricted expenditure.

7. Events cost

Unrestricted
funds 2021
£
Annual dinner
-
_		 Restricted
funds 2021
Total funds
2021
£
£
-
-
_
_		 Total
funds
2020
£
250
_

Events cost includes £nil (2020 - £nil) of restricted expenditure and £nil (2020 - £250) of unrestricted expenditure.

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

8. Net income/(expenditure)

This is stated after charging:

Independent examiner’s remuneration 2021
£
1,570
_		 2020
£
1,470
_

During the year and previous period, no Trustees received any remuneration, any benefits in kind or received any reimbursement of expenses.

9. Tangible fixed assets

Leasehold
improvements
£
Cost
At 1 January 2021 & 31 December 2021
2,201
Depreciation
At 1 January 2021
734
Depreciation
734
_
At 31 December 2021
1,468
_
Carrying amount
At 31 December 2021
733
_
At 31 December 2020
1,467
_
10.
Debtors
2021
£
Other debtors
1,237
_
11.
Creditors: Amounts falling due within one year
2021
£
Trade creditors
667
Accruals and deferred income
3,110
_
3,777
__		 Total
£
2,201
734
734
_
1,468
_
733
_
1,467
_
2020
£
5,784
_
2020
£
2,841
1,960
_
4,801
__

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

12. Statement of funds

Statement of funds – current year

Balance at 1 Income Expenditure Balance at 31
January December
2021 2021
£ £ £ £
Unrestricted funds
General Funds – all funds 32,182 207,208 (179,566) 59,824
__ __ __ __
Restricted funds
Restricted Funds – all funds - - - -
__ __ __ __
Total of funds 32,182 207,208 (179,566) 59,824
__ __ __ __
Statement of funds – previous period
Balance at 1 Income Expenditure Balance at 31
January December
2020 2020
£ £ £ £
Unrestricted funds
General Funds – all funds 36,462 106,182 (110,462) 32,182
__ __ __ __
Restricted funds
Restricted Funds – all funds - - - -
__ __ __ __
Total of funds 36,462 106,182 (110,462) 32,182
__ __ __ __
13. Analysis of net assets between funds
Unrestricted Restricted Total funds Total
funds 2021 funds 2021 2021 funds
2020
£ £ £ £
Tangible fixed assets 733 - 733 1,467
Current assets 62,868 - 62,868 35,516
Current liabilities (3,777) - (3,777) (4,801)
__ __ __ __
59,824 - 59,824 32,182
__ __ __ __

BRIGHTER FUTURES THROUGH SPORT (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

__________

14. Related party transactions

During the year, the charity paid £172,407 (2020 - £95,227) for professional football coaching to a company with a mutual trustee.

During the year, the charity paid £4,200 (2020 - £4,200) for property rental to the spouse of a trustee.

There were no other related party transactions to disclose within the year or comparative.