OpenCharities

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

2024-06-30-accounts

Charity registration number 1177366

Company registration number 04738011 (England and Wales)

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

LEGAL AND ADMINISTRATIVE INFORMATION

Trustee

B Bivens N Hickes D Douglas Dr C B King P Majithia K Saunders L F Walshe J Taylor S Grover K Brown

Secretary

K Saunders

Charity number 1177366 Company number 04738011

Registered office

Middlesex FA Rectory Park Ruislip Road Northolt UB5 5FA

Auditor

Affinia (Stratford) 19th Floor 1 Westfield Avenue London E20 1HZ

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page
Trustees' report 1 - 3
Statement of Trustees' responsibilities 4
Independent auditor's report 5 - 8
Statement of financial activities 9
Balance sheet 10 - 11
Statement of cash flows 12
Notes to the financial statements 13 - 25

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2024

The Trustees who are also directors of the Company for the purposes of the Companies Act, have pleasure in presenting their report and financial statements for the year ended 30 June 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Companies Act 2006 and "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 2019).

Objectives and activities

Objectives

The principal aim of the charitable company is to promote, develop and support the grassroots game of football within the geographical County of Middlesex. It is the vision of the charitable company that looks to provide everyone with the opportunity to participate in the game of football across Middlesex. Our boroughs with the County are the most densely populated and diverse in the country and we are committed to connecting and collaborating with everyone who would like to be involved.

Our primary focus is to make sure that when anyone chooses to participate in the game is to make sure that safeguards are in place to ensure that they have fun in a safe environment, creating pathways for them to stay in the game for as long as they wish to do so. At Middlesex FA, our staff and volunteers work tirelessly to share their passion for football. At our facility, Rectory Park, we are proud to have extended our reach by working with our partners to deliver on and off the pitch.

Our purpose is to ensure that every person in Middlesex have an opportunity to get involved in football. To achieve this vision, we have four simple values that staff, Council and Committee members here at the Association live and breathe to be committed, to be creative, to be collaborative and to be connected. With these values we will continue to move football forwards creating an environment where regardless of age, ability, faith, gender, sexuality, or background, people in Middlesex are able to enjoy the beautiful game.

Main activities

The main activities of the charitable company are to further its charitable purposes for the public benefit. Our core mission is to develop and support grassroots football within the geographical county of Middlesex. We are dedicated to provide everyone with the opportunity to participate in football across Middlesex. This includes the provision of football coaching, training of referees and the organising and administering of football competitions.

This can be seen in the following data in respect of the football activities and affiliations to Middlesex Football Association:

Male teams total 2,472 with 37,026 male players. Female teams total 300 with 5,186 female players. Disability teams total 42 with 570 players. Walking Football teams total 34 with 495 players. Futsal teams total 13 with 180 players.

The number of qualified referees totaled 656, of which 599 are male and 57 female.

County cup competitions numbered 25 for which 873 teams entered

Safeguarding 29 visits to clubs were undertaken.

Middlesex County FA supported grassroots clubs in receiving funding for items such as pitch and facilities improvements. The amount clubs received during the year totaled £1,638,647.

97.4% of Youth clubs have a Qualified coach.

Coaching courses were attended by 905 people, either on a face to face or virtual basis. This was across all aspects of the game from club coaches to referees.

Achievements and performance

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Financial review

The accounts for the year ended 30 June 2024 show income resources of £900,381 (2023: £873,270 ).

Total fund balances amount to £1,971,600 (2023: £2,039,933 ).

Please refer to note 1.2 for going concern.

Our reserves level is monitored on a regular basis by the Board of Trustees with cash monitored by our CEO and Accountant on a frequent basis. This ensures that Middlesex FA have sufficient reserves to meet the requirements of the Association. During the course of the 2024 period a restricted reserve was in deficit due to the late receipt of income. This is noted and the trustees have a reasonable expectation of future receipt of funds to ensure that no transfer from unrestricted reserves is required.

Middlesex FA’s policy is to maintain reserves at a discretionary minimum level of 6 months operating costs including restricted expenditure, in line with FA guidelines.

Our reserves level is monitored on a regular basis by the Board of Trustees with cash monitored by our CEO and Accountant on a frequent basis. This ensures that Middlesex FA have sufficient reserves to meet the requirements of the Association.

The CEO and Finance Director continue to explore strategies to invest any surplus reserves to support our charitable objectives.

Structure, governance and management

Middlesex County Football Association Limited is a registered charity and company limited by guarantee with no share capital. The liability of Trustees in the event of insolvent liquidation is limited to £10 each.

The company obtained charitable status on 28 February 2018 having previously operated as a not-for-profit organisation. The charitable company's governing document is its Articles of Association incorporated 17 April 2003, as amended on 6 June 2022.

Governance and management

The charitable company is governed by its Trustees. The Trustees are elected in a number of ways. The Chair by the membership at the Annual General Meeting, up to five by the Council, two hold positions by dint of office and Independent Trustees are appointed by the directors. Day to day management of the charitable company is delegated to the full-time Chief Executive who has overall responsibility for the company's staff.

Trustee induction and training

New Trustees receive briefings on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, and the content of the Articles of Association.

Related parties

The full-time Chief Executive (who is also a Trustee) receives remuneration for services. None of the other Trustees (save for the Finance Director, who is eligible but has a choice) receive remuneration from their work with the charitable company.

Pay policy for senior staff

The Trustees consider the Chief Executive and the senior management team to comprise the key management personnel of the charitable company in charge of directing and controlling, running and operating the charitable company on a day-to-day basis.

All Trustees give of their time freely and no Trustee received remuneration in the year. The pay of the senior staff is reviewed annually, considering the financial performance of the charitable company.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements, were:

B Bivens N Hickes D Douglas Dr C B King P Majithia B E Narasimhan (Resigned 30 November 2023) K Saunders J Davies (Resigned 7 July 2024) L F Walshe J Taylor S Grover K Brown

Auditor

In accordance with the company's articles, a resolution proposing that Affinia (Stratford) be reappointed as auditor of the company will be put at a General Meeting.

The Trustees' report was approved by the Board of Trustees.

Kayleigh Saunders

..............................

K Saunders

Trustee

10 March 2025 Date: .............................................

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 JUNE 2024

The Trustees, who are also the directors of Middlesex County Football Association Limited (A charity and company limited by guarantee) for the purpose 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 which give a true and fair view of the state of affairs of the charity 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:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEE OF MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

Opinion

We have audited the financial statements of Middlesex County Football Association Limited (A charity and company limited by guarantee) (the ‘charity’) for the year ended 30 June 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustee with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustee are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEE OF MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of Trustee

As explained more fully in the statement of Trustees' responsibilities, the Trustee, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustee determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustee are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEE OF MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEE OF MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Richard Lane

Richard Lane
Richard Lane (Senior Statutory Auditor)
for and on behalf of Affinia (Stratford)		 .........................
10 March 2025
Chartered Accountants
Statutory Auditor 19th Floor
1 Westfield Avenue
London
E20 1HZ

Affinia (Stratford) is eligible for reappointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Charitable activities
3
329,938
549,875
Investments
4
20,568
-
Total income
350,506
549,875
Expenditure on:
Charitable activities
Charitable activities
5
58,941
568,131
Support costs
5
341,642
-
Total charitable expenditure
400,583
568,131
Gross transfers between
funds
-
-
Net expenditure for the year/
Net movement in funds
(50,077)
(18,256)
Fund balances at 1 July 2023
1,888,676
151,257
Fund balances at 30 June
2024
1,838,599
133,001		 Total Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
879,813
429,460
432,159
20,568
11,651
-
900,381
441,111
432,159
627,072
56,828
507,417
341,642
360,280
-
968,714
417,108
507,417
-
(32,000)
32,000
(68,333)
(7,997)
(43,258)
2,039,933
1,896,673
194,515
1,971,600
1,888,676
151,257		 Total
2023
£
861,619
11,651
873,270
564,245
360,280
924,525
-
(51,255)
2,091,188
2,039,933

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET

AS AT 30 JUNE 2024

Notes
Fixed assets
Tangible assets
9
Investments
10
Current assets
Stocks
11
Debtors falling due after one year
12
Debtors falling due within one year
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
14
Net assets
Income funds
Restricted funds
16
Unrestricted funds		 2024
£
£
3,798,270
1
3,798,271
3,093
271,753
59,121
532,696
866,663
(302,452)
564,211
4,362,482
(2,390,882)
1,971,600
133,001
1,838,599
1,971,600		 2023
£
£
4,005,394
1
4,005,395
3,012
262,698
109,938
547,197
922,845
(325,578)
597,267
4,602,662
(2,562,729)
2,039,933
151,257
1,888,676
2,039,933

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2024

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

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

10 March 2025

The financial statements were approved by the Trustee on .........................

.............................. S Grover

Trustee

Company registration number 04738011

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2024

Notes
Cash flows from operating activities
Cash absorbed by operations
22
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(369)
-
20,568		 £
(34,700)
20,199
-
(14,501)
547,197
532,696		 2023
£
(1,179)
945
11,651		 £
(14,519)
11,417
-
(3,102)
550,299
547,197

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

Charity information

Middlesex County Football Association Limited (A charity and company limited by guarantee) is a private company limited by guarantee incorporated in England and Wales. The registered office is Middlesex FA, Rectory Park, Ruislip Road, Northolt, UB5 5FA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. This expectation is supported by the charity's current cash surplus and strong future income projections, which provide a solid financial foundation for the continuation of its activities. As a result, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

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

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions by donors which have been raised by the charitable company for particular purposes. The cost 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. Statutory grants which are given as contributions towards the charitable company's core services are treated as unrestricted.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

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 are allocated on the portion of the asset’s use.

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 land and buildings 2% straight line Artificial pitches 10% straight line Fixtures and fittings and equipment 25%-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 recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the Statement of Financial Activities over the expected useful life of the asset. Grants towards revenue expenditure are released to the Statement of Financial Activities as the related expenditure is incurred.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residue value are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation and the physical condition of assets. See note 11 for the carrying amount of the plant and machinery and note 1.6 for the useful lives for each class of assets.

3 Charitable activities

Income from
charitable
activities
Restricted
income grants
2024
2024
£
£
Income relating to
footballing activities
703,129
176,684
703,129
176,684
Analysis by fund
Unrestricted funds
329,938
-
Restricted funds
373,191
176,684
703,129
176,684		 Total
2024
Income from
charitable
activities
Restricted
income grants
2023
2023
£
£
£
879,813
799,133
62,486
879,813
799,133
62,486
329,938
429,460
-
549,875
369,673
62,486
879,813
799,133
62,486		 Total
2023
£
861,619
861,619
429,460
432,159
861,619

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

4 Investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Bank interest receivable 13,641 4,843
Interest receivable from group undertakings 6,927 6,808
20,568 11,651

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

5 Charitable activities

Charitable
activities
Support
costs
2024
2024
£
£
Staff costs
-
10,309
Coaching
11,995
-
Rent payable
-
8,556
Insurance
-
6,068
Competition costs
40,329
-
Headquarter costs
6,617
56,998
Auditors remuneration
-
12,000
Legal and professional
-
12,423
Telephone, postage,
stationery and printing
-
8,967
Bookkeeping and support
services
-
19,574
Meetings and travel
-
20,506
Irrecoverable VAT
-
18,783
General expenses
-
5,351
Wages and salaries
-
119,811
Bank charges
-
5,951
Other charitable
expenditure
-
36,345
58,941
341,642
Share of support costs (see
note )
473,325
-
Share of governance costs
(see note )
94,806
-
627,072
341,642
Analysis by fund
Unrestricted funds
58,941
341,642
Restricted funds
568,131
-
627,072
341,642
Auditor's remuneration
Fees payable to the charity's auditor and associates:
Audit of the charity's annual accounts		 Total
2024
Charitable
activities
2023
£
£
10,309
-
11,995
10,920
8,556
-
6,068
-
40,329
38,909
63,615
6,999
12,000
-
12,423
-
8,967
-
19,574
-
20,506
-
18,783
-
5,351
-
119,811
-
5,951
-
36,345
-
400,583
56,828
473,325
420,304
94,806
87,113
968,714
564,245
400,583
56,828
568,131
507,417
968,714
564,245		 Support
costs
2023
£
8,165
-
6,845
4,393
-
53,725
9,650
9,683
7,523
27,035
19,824
21,096
9,704
135,989
5,330
41,318
360,280
-
-
360,280
360,280
-
360,280
2024
£
5,000		 Total
2023
£
8,165
10,920
6,845
4,393
38,909
60,724
9,650
9,683
7,523
27,035
19,824
21,096
9,704
135,989
5,330
41,318
417,108
420,304
87,113
924,525
417,108
507,417
924,525
2023
£
5,000

6 Auditor's remuneration

Audit of the charity's annual accounts

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

7 Trustee

During the year the full time Chief Executive received a salary. No Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
17
2024
£
434,784
42,408
13,413
490,605		 2023
Number
14
2023
£
409,224
41,512
9,900
460,636

There were no employees whose annual remuneration was more than £60,000.

9 Tangible fixed assets

Cost
At 1 July 2023
Additions
At 30 June 2024
Depreciation and impairment
At 1 July 2023
Depreciation charged in the year
At 30 June 2024
Carrying amount
At 30 June 2024
At 30 June 2023		 Leasehold
land and
buildings
£
3,744,176
-
3,744,176
374,478
74,884
449,362
3,294,814
3,369,698		 Artificial
pitches
Fixtures and
fittings and
equipment
£
£
1,249,636
117,143
-
369
1,249,636
117,512
624,818
106,265
124,964
7,645
749,782
113,910
499,854
3,602
624,818
10,878		 Total
£
5,110,955
369
5,111,324
1,105,561
207,493
1,313,054
3,798,270
4,005,394

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

9 Tangible fixed assets

(Continued)

Land and buildings leasehold comprises Rectory Park, the charitable company's new headquarters. The artificial pitches comprises two full size 3G pitches on the Rectory Park site. The building and pitches were constructed in conjunction with Ealing Council and were substantially grant funded, including a significant grant from the Football Foundation. The Football Foundation grant was made to Ealing Council on the condition that a 125 year lease for the site was entered into with Middlesex County Football Association Limited. The charitable company has signed a deed of adherence and is liable to repay the Football Foundation grant if the conditions of the grant award deed are not maintained for a 25-year period.

The Trustees are therefore of the opinion that the substance of the transaction is that the charitable company received the full benefit of the grant and that the charitable company received substantially all the rights and obligations of ownership of the building and artificial pitches. The buildings and pitches have therefore been recognised as a tangible fixed asset. The assets are being depreciated over their useful lives in accordance with the depreciation policies. The grant received is recognised as a deferred capital grant within "Creditors: amounts falling due within one year" and "Creditors: amounts falling due after one year" and is released to the Statement of Financial Activities over the life of the assets to which they relate. The charitable company's commitments under the 125 year lease are shown under "Operating Leases".

10 Fixed asset investments

Other
investments
Cost or valuation
At 1 July 2023 & 30 June 2024 1
Carrying amount
At 30 June 2024 1
At 30 June 2023 1
2024 2023
Other investments comprise: Notes £ £
Investments in subsidiaries 21 1 1

Fixed asset investments relate to 100% of the Ordinary Shares in Middlesex Community Football Centres Limited and are valued at cost.

11 Stocks

Stocks
2024 2023
£ £
Goods for resale 3,093 3,012

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

12
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
Amounts falling due after more than one year:
Amounts owed by subsidiary undertakings
Total debtors		 2024
£
10,612
13,279
35,230
59,121
2024
£
271,753
330,874		 2023
£
22,816
13,656
73,466
109,938
2023
£
262,698
372,636

13 Creditors: amounts falling due within one year

Notes
Other taxation and social security
Deferred income
15
Trade creditors
Other creditors
Accruals and deferred income		 2024
£
4,422
199,684
46,645
39,354
12,347
302,452		 2023
£
9,671
216,115
32,533
47,726
19,533
325,578

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

14 Creditors: amounts falling due after more than one year

2024 2023
Notes £ £
Deferred income 15 2,390,882 2,562,729

Included within other creditors more than one year is a capital grant amounting to £2,390,882 (2023: £2,562,729). Capital grant represents the long-term element of grants received for the construction of Rectory Park site as described under Tangible Fixed Assets on note 10 of the financial statements.

Grants are released in accordance with the accounting policy note 1.13 in relation to government grants and FRS102. If the grant was to be amortised at the lower of the useful life of the related asset and the contractual obligation of the lease then the release of the grant in the period would be £218,731. Over the life time of the grant, from inception, this would result in an amortised capital grant of £2,281,428 (2023: £2,500,159) over one year. The deferred grant under one year would be £218,731 (2023: £218,731). This increased release is in line with the underlying legal agreement but would result in a departure from FRS102.

15 Deferred income

Arising from government grants
Other deferred income and non current
government grants		 2024
£
171,847
2,418,719
2,590,566		 2023
£
171,847
2,606,997
2,778,844

Deferred income is included in the financial statements as follows:

Deferred income is included within:
Current liabilities
Non-current liabilities
Movements in the year:
Deferred income at 1 July 2023
Resources deferred in the year
Deferred income at 30 June 2024		 2024
£
199,684
2,390,882
2,590,566
2,778,844
(188,278)
2,590,566		 2023
£
216,115
2,562,729
2,778,844
2,933,325
(154,481
2,778,844

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 July 2022
r
£
Development and participation
139,361
Womens legacy
55,154
FA Grants
-
194,515		 Movement in funds
Incoming
esources
Resources
expended
£
£
62,486
(50,631)
-
(87,113)
369,673
(369,673)
432,159
(507,417)		 Movement in funds
Transfers
Balance at
1 July 2023
Incoming
resources
Resources
expended
Balance at
30 June 2024
£
£
£
£
£
-
151,216
62,914
(36,964)
177,166
32,000
41
49,398
(93,604)
(44,165)
-
-
373,191
(373,191)
-
32,000
151,257
485,503
(503,759)
133,001

FA Grants - Providing funding to run the Grassroots Football in Middlesex. Development and participation - Funds to deliver Grassroots Football programmes in Middlesex. Women's legacy - Fund support enabling the development of Women's football in Middlesex.

The Women's Legacy fund is currently in deficit; however, there is a reasonable expectation of future funds being received. The trustees/directors acknowledge this expectation and are comfortable that the anticipated funds will cover the shortfall in due course.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

17
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Total
Unrestricted
funds
2024
2024
2024
2023
£
£
£
£
Fund balances at 30
June 2024 are
represented by:
Tangible assets
3,798,270
-
3,798,270
4,005,394
Investments
1
-
1
1
Current assets/(liabilities)
564,211
-
564,211
446,010
Long term liabilities
(2,390,882)
-
(2,390,882)
(2,562,729)
1,971,600
-
1,971,600
1,888,676		 Restricted
funds
Total
2023
2023
£
£
-
4,005,394
-
1
151,257
597,267
-
(2,562,729)
151,257
2,039,933

18 Financial commitments, guarantees and contingent liabilities

During 2018 a grant of £3,243,812 was paid to Ealing Council by the Football Foundation in respect of the construction of the Rectory Park site. The assets and grants have been recognised in the charitable company's accounts as described under "Tangible Fixed Assets". The Football Foundation has a charge on the leasehold land at the Rectory Park site and the grant is repayable by Middlesex County Football Association Limited to The Football Foundation if the grant conditions are not adhered to for a period of 25 years. At the balance sheet date, the amortised amount of the grant remains recognised within deferred income under "Creditors: amounts falling due within one year" and "Creditors: amounts falling due after one year".

19 Related party transactions

The subsidiary company, Middlesex Community Football Centre Limited, operates facilities based at the Rectory Park site, the headquarters of Middlesex County Football Association Limited.

Some costs incurred are common to both companies and are apportioned on a reasonable basis. Expenses are generally cross-charged at partner rates. The company has provided a loan to the subsidiary undertaking, Middlesex Community Football Centre Limited, to assist with working capital requirements.

The company extended the terms of this loan so as to provide a level of support which is expected to be sufficient to cover the operational needs of the company for a period of approximately eight years. As at 30 June 2024, included within debtors falling due after more than one year the company was owed an amount of £271,753 (2023: £262,698) by the subsidiary undertaking. Interest is charged on outstanding balances at a rate of 2.5%.

20 Company limited by guarantee

Middlesex County Football Association Limited is a charity and company limited by guarantee and accordingly does not have a share capital.

Every member of the charitable company undertakes to contribute such amount as may be required not exceeding £10 to the assets of the charitable company in the event of its being wound up while he or she is a Trustee, or within one year after he or she ceases to be a Trustee.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

21 Subsidiaries

These financial statements are separate charity financial statements for Middlesex County Football Association Limited.

Details of the charity's subsidiaries at 30 June 2024 are as follows:

Name of undertaking Registered Nature of business Class of % Held % Held
office shares held
**Direct **		 Indirect
Middlesex Community United Kingdom Sports and leisure facilities Ordinary 100.00
Football Centres Limited
22 Cash generated from operations 2024 2023
£ £
Deficit for the year (68,333) (51,255)
Adjustments for:
Investment income recognised in statement of financial activities (20,568) (11,651)
Movements in working capital:
(Increase)/decrease in stocks (81) 1,383
Decrease in debtors 41,762 16,636
(Decrease) in creditors (6,695) (22,789)
Increase in deferred income 19,215 53,157
Cash absorbed by operations (34,700) (14,519)

23 Analysis of changes in net funds

The charity had no debt during the year.