FIT2LIVE SPORTS
Rap-aid Youth FC
Registered Charity No. 1176173
Report of the Trustees and Financial Statements For The Period Ended 31 May 2022
Selby Centre, Selby Road London, N17 8JL Tel: 020 88013199 Mob: 07748287303
| Contents | Page |
|---|---|
| Legal and administrative information | 1 |
| Trustees’ report | 2 – 4 |
| Independent Examiner’s report | 5 |
| Statement of financial activities | 6 |
| Balance Sheet | 7 |
| Notes to the accounts | 8 – 11 |
FIT2LIVE SPORTS
Legal and Administrative Information For the year ended 31 May 2022
| Status: | The organisation is a charity | The organisation is a charity | registered with the Charities |
|---|---|---|---|
| Commission in England & Wales. | |||
| Charity Number: | 1176173 | ||
| Registered Office & Headquarter | |||
| Business Address: | Greenside House | ||
| 50 Station Road | |||
| London N22 7DE | |||
| Trustees: | Mr T Aleshe | - | Chair |
| Ms J Roulston | - | Trustee | |
| Mr M Porter | - | Trustee | |
| Bankers: | National Westminster Bank | ||
| 104/110 Fore Street | |||
| Edmonton | |||
| London N18 2XA | |||
| Independent Examiners: | Bennic Ltd | ||
| Chartered Certified Accountants | |||
| Selby Centre | |||
| Selby Road | |||
| London N17 8JL |
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FIT2LIVE SPORTS
Trustees’ Report for the period ended 31 May 2022
Our purpose
Rap-Aid Youth FC have been established since 7th December 2017 when a constitution was adopted, Rap-Aid Youth FC operates as a registered Charity (No. 1176173) registered on 7th December 2017.
Our Aims and Objective
We provide opportunities and increases sports participation among young people from age 6-21. We focus on promoting healthy lifestyle by increasing sports participation in football, handball, Tabletennis, Athletics, Dodgeball, and cricket – amateur. We aim to provide subsidies (in-kind or financial) to ensure all young people from low-income household can take part and advanced in sports.
We are one of the leading Sport for Development organisation in the UK.
Our principal objectives are:
We provide opportunities and increases sports participation among young people from age 6-21. We focus on promoting healthy lifestyle by increasing sports participation in football, handball, Tabletennis, Athletics, Dodgeball, and cricket – amateur.
Activities and achievements During the year to 31 May 2022
Fit2Live Sports provided opportunities and increased sports participation to young people from age 6- 21.
We focused on promotion of community participation in healthy recreation by providing facilities for playing football, multi-sports and increasing sports participation.
We offered sports such as football, handball, Table-tennis, Athletics, Dodgeball, and cricket – amateur
We provided subsidies (in-kind or financial) to ensure all young people from low-income household can take part in sports.
We provided breakdown financial/social/psychological factors that hinders young people of underprivileged background from taking part in sports.
We provided outreach services that enables the hard to reach groups and young people insolation access sports activities.
Trustees’ Report for the period ended 31 May 2022
The trustees present their report with financial statements of the charity for the 12 months period ended 31 May 2022. The trustees confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Structure, Governance and Management
Legal structure
Fit2Live Sports was established on 7th December 2017 when a constitution was adopted, Fit2Live Sports operates as a registered Charity (No. 1176173) registered on 7th December 2017.
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Organisational Structure
The board of trustee is not subject to maximum trustees but there must always be a minimum of three trustees. The board meets regularly to discuss development, finance and to facilitate effective operations and the delivery of projects. The trustees are responsible for policy formulation and ensuring that the organisation complies with its legal obligations and pursues its objectives.
Induction and training of trustees
New trustees are invited to a trustee meeting to brief them of their legal obligations under the charity law, the content of the governing document, the committee and decision making process, the business plan and recent financial performance of the charity. A number of publications from charity commission are provided including the guidance on charities and public benefit. Trustees are aware of their responsibilities to keep abreast of development in relation to the governance of charities under Charities Act.
Trustees’ responsibilities
The trustees have a duty to identify and review the risk to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and errors. The trustees oversee preparation of financial statements, select suitable accounting policies and make judgments and estimates that are reasonable and prudent to give the true state of affairs of the charity. Trustees are also responsible for safeguarding the assets of the charity. They are elected and replaced as set out in the constitution.
Financial Review
Reserves policy:
The charity currently operates with minimal reserves. The trustees are endeavouring to build up its donor base with a view to having reserves equal to £25,000, which represents three months’ operating expenditure, excluding expenditure coming from grants for projects.
Risk(s) review:
The trustees have recently reviewed the major risks faced by the charity. This has resulted in efforts to look for funds to employ a youth co-coordinator/ funding manager in order to increase charity’s donor base and to finalise the health and safety review.
Principal funding sources
The charity’s main sources of income are donations contributions and fees from amateur football players. During the period the charity received donations and contributions amounting £18,000 from various organisations and £202,192 from amateur players
Plans for the future periods
We will work independently or in partnership with reputable Professional Sports Organisation, Local and National Governing Bodies to initiate and deliver impactful of projects in UK.
We are currently operating in London community. Our ultimate goal is to provide Free sports for all our members and to operate in every community throughout England & Wales.
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How our activities deliver public benefit
Fit2live Sports deliver public benefits by:
Improving social skills among young people Providing sports opportunities Increasing joint participation in sports
Increasing the range of activities available, especially for young people, including employment and training opportunities.
Improving educational attainment levels.
Improving and raising self-esteem and confidence levels among beneficiaries of our projects.
Statement of Trustees responsibilities
The charity 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 that must be 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 and detection 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 in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
This report was approved by the board and signed on its behalf by:
Chair
~~31/05/2~~ 0 ~~23~~
Mr Tim Aleshe
Date: -------------------------------
31/03/2023
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Independent Examiner’s Report to the Trustees of Fit2Live Sports
For the period ended 31 May 2022
I report to the charity trustees on my examination of the accounts of the Charity for the period ended 31 May 2022.
Responsibilities and basis of report
The charity’s trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011.
Having satisfied myself that the accounts of the Charity are not required to be audited under section 144 of the Charities Act 2011 and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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
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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).
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.
Fidelia Igbodo FCCA Bennic Ltd Chartered Certified Accountants Selby Centre, Selby Road London N17 8JL
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Fit2Live Sports
Statement of Financial Activities For The Year Ended 31 May 2022
| Note Income from: Donations 3 Charitable activities 4 Total income Expenditure on: Charitable activities 5 Total Expenditure Net income/(expenditure) for the year Transfer between funds Net movements in funds Funds balance brought forward Funds balance carried forward |
2022 2021 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 18,000 - 18,000 16,500 202,192 0 202,192 79,845 |
|---|---|
| 220,192 0 220,192 96,345 |
|
| 219,095 0 219,095 92,901 |
|
| 219,095 0 219,095 92,901 |
|
| 1,097 0 1,097 3,444 |
|
| - - - - |
|
| 1,097 0 1,097 3,444 |
|
| 34,223 0 34,223 0 |
|
| 35,320 0 35,320 3,444 |
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Fit2Live Sports
Balance Sheet For The Year Ended 31 May 2022
| Notes Current Assets Debtors 7 Cash at Bank and in Hand Creditors: amounts falling due within one year Creditors and accruals 8 Creditors: amounts falling due after one year Bounce back loans 9 Current Liabilities less Current Assets General Fund Unrestricted Funds Fund Balance as at 31 March 2021 |
2022 2021 £ £ 59,182 58,435 3,945 5,846 |
|---|---|
| 63,127 64,281 (1,728) (1,440) (26,079) (28,618) |
|
| 35,320 34,223 |
|
| 35,320 34,223 - 0 |
|
| 35,320 34,223 |
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FIT2LIVE SPORTS
Notes to the Accounts For the period ended 31 May 2022
1. Accounting policies
Basis of preparation
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) (effective 1 January 2015) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (July 2014) and the Companies Act 2006.
Going Concern
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
No key judgements have been made by the charity which have a significant effect on the accounts.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
Income
Income, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Contributions and donations are credited to incoming resources when they are receivable as the charity's own money, unless they are for activities that relate to a specific future period, in which case they are deferred to that period.
Fund Accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity. During this period there has been no restricted funds.
Expenditure
Expenditure is recognised once there is a legal obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
●Costs of raising funds comprise of the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
●Expenditure on charitable activities includes the costs of training, events, advice and capacity
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building undertaken to further the purposes of the charity.
Debtors
Other debtors are reported as recognised at the settlement amount due after any trade discount offered.
Cash at bank and in hand
Current and savings account total is £3,945
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
| 2 Detailed comparatives of the financial statements Note Income from: Donations 3 Charitable activities 4 Total income Expenditure on: Charitable activities 5 Total Resources Expended Net income/(expenditure) for the year Transfer between funds Net movements in funds Balance brought forward Balance carried forward |
Unrestricted Restricted 2022 Funds Funds Total Funds £ £ £ 18,000 - 18,000 202,192 - 202,192 |
|---|---|
| 220,192 - 220,192 |
|
| 219,095 - 219,095 |
|
| 219,095 - 219,095 |
|
| 1,097 - 1,097 - - - |
|
| 1,097 - 1,097 |
|
| 34,223 - 34,223 |
|
| 35,320 - 35,320 |
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3 Donations
| Donations Donations Total income |
2022 2021 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 18,000 - 18,000 16,500 |
| 18,000 - 18,000 16,500 |
| 4 Income from charitable activities Income from: Amateur football players Total income 5 Expenditure on: Charitable activities: Salaries, tax & pension Training costs Advertising and PR Rent IT Support Office expenses Insurance Equipment Motor and travel cost Independent examination |
2022 2021 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 202,192 - 202,192 79,845 202,192 - 202,192 79,845 Unrestricted Restricted 2022 2021 Total Total £ £ £ £ - - - 6,987 55,742 - 55,742 34,986 2,717 - 2,717 7,001 72,534 - 72,534 16,951 4,079 - 4,079 3,339 4,453 - 4,453 11,457 1,564 - 1,564 2,207 40,415 40,415 - 13,228 - 13,228 2,044 288 - 288 240 |
|---|---|
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| 2,535 - 20,100 - 1440 - Legal and professional fees Operational costs Accountancy & payroll costs Total expenditure 219,095 0 6 Net Income (expenditure) for the year This is stated after charging: 7 8 Independent Examination Fees Debtors None-paying Participants Other Creditors falling due within one year Independent Examination Accountancy, Payroll & Advice 9 Creditors falling due after one year Bounce back loan 10 Emoluments of the trustees The trustees did not receive remuneration during the year 2021-22. The key management personnel in the year 2021-22 were NIL (2020-21 £6,987). |
2,535 - 20,100 - 1440 - |
2,535 2,946 20,100 3,543 1,440 1200 219,095 92,901 2021 2020 £ £ 288 240 |
||
|---|---|---|---|---|
| 219,095 0 |
||||
11. Related party transactions
There were no related party transactions to disclose.
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