**REGISTERED CHARITY NUMBER: 1178198** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022** ## **FOR** ## **CRICKLEWOOD BOXING CLUB** KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH **CRICKLEWOOD BOXING CLUB** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022** |||**Page**|| |---|---|---|---| |**Report of the Trustees**||1|| |**Independent Examiner's Report**||2|| |**Statement of Financial Activities**||3|| |**Balance Sheet**||4|| |**Notes to the Financial Statements**|5|to|9| |**Detailed Statement of Financial Activities**|10|to|11| **CRICKLEWOOD BOXING CLUB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022** The trustees present their report with the financial statements of the charity for the year ended 31 May 2022. The trustees have adopted the provisions of 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). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1178198 ## **Principal address** The Basement 327 Edgware Road The Railway Club NW2 6JP ## **Trustees** N D Salmon (resigned 30.9.2021) J Fay R Buick T Smith (appointed 1.1.2022) ## **Independent Examiner** KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH Approved by order of the board of trustees on 31 March 2023 and signed on its behalf by: J Fay - Trustee Page 1 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CRICKLEWOOD BOXING CLUB** ## **Independent examiner's report to the trustees of Cricklewood Boxing Club** I report to the charity trustees on my examination of the accounts of Cricklewood Boxing Club (the Trust) for the year ended 31 May 2022. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do 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. 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 Myerson FCA KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH 31 March 2023 Page 2 **CRICKLEWOOD BOXING CLUB** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2022** **----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
-
Donations and legacies 66,736 66,736 49,978
EXPENDITURE ON
-
Raising funds 8,221 8,221 9,327
Other 59,314 - 59,314 27,708
Total 67,535 - 67,535 37,035
-
NET INCOME/(EXPENDITURE) (799) (799) 12,943
Transfers between funds 9 6,351 (6,351) - -
Net movement in funds 5,552 (6,351) (799) 12,943
RECONCILIATION OF FUNDS
Total funds brought forward 17,090 38,129 55,219 42,276
TOTAL FUNDS CARRIED FORWARD 22,642 31,778 54,420 55,219
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The notes form part of these financial statements Page 3 ## **CRICKLEWOOD BOXING CLUB** ## **BALANCE SHEET 31 MAY 2022** **----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 37,279 31,777 69,056 58,098
CURRENT ASSETS
Debtors 5 - 1 1 9,340
Cash at bank and in hand 11,026 - 11,026 17,181
11,026 1 11,027 26,521
CREDITORS
Amounts falling due within one year 6 (3,369) - (3,369) (4,333)
NET CURRENT ASSETS 7,657 1 7,658 22,188
TOTAL ASSETS LESS CURRENT LIABILITIES 44,936 31,778 76,714 80,286
CREDITORS
Amounts falling due after more than one year 7 (22,294) - (22,294) (25,067)
NET ASSETS 22,642 31,778 54,420 55,219
FUNDS 9
Unrestricted funds 22,642 17,090
Restricted funds 31,778 38,129
TOTAL FUNDS 54,420 55,219
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The financial statements were approved by the Board of Trustees and authorised for issue on 31 March 2023 and were signed on its behalf by: J Fay - Trustee The notes form part of these financial statements Page 4 **CRICKLEWOOD BOXING CLUB** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Hire purchase and leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **Prior year adjustment** The prior year financial statements have been restated to reflect £27,000 which was previously treated as income as being a bounceback loan taken by the Charity. ## **2. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 May 2022 nor for the year ended 31 May 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 May 2022 nor for the year ended 31 May 2021. continued... Page 5 **CRICKLEWOOD BOXING CLUB** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022** ## **3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies||Unrestricted
fund
£
49,978|Restricted
fund
£
-|Total
funds
£
49,978| |---|---|---|---|---| |**EXPENDITURE ON**
Raising funds
Other||9,327
27,708|-
-|9,327
27,708| |**Total**||37,035|-|37,035| |**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward||12,943
4,147|-
38,129|12,943
42,276| |**TOTAL FUNDS CARRIED FORWARD**||17,090|38,129|55,219| |**4.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 June 2021
Additions|Improvements
to
property
£
**12,432**
**-**|Fixtures
and
fittings
£
**66,038**
**24,230**|Computer
equipment
£
**1,943**
**567**|Totals
£
**80,413**
**24,797**| |At 31 May 2022|**12,432**|**90,268**|**2,510**|**105,210**| |**DEPRECIATION**
At 1 June 2021
Charge for year|**4,793**
**1,528**|**16,976**
**11,946**|**546**
**365**|**22,315**
**13,839**| |At 31 May 2022|**6,321**|**28,922**|**911**|**36,154**| |**NET BOOK VALUE**
At 31 May 2022|**6,111**|**61,346**|**1,599**|**69,056**| |At 31 May 2021|7,639|49,062|1,397|58,098| continued... Page 6 **CRICKLEWOOD BOXING CLUB** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022** **----- Start of picture text -----**
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Other debtors 1 9,340
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Bank loans and overdrafts (see note 8) 2,169 1,933
Other creditors 1,200 2,400
3,369 4,333
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£ £
Bank loans (see note 8) 22,294 25,067
8. LOANS
An analysis of the maturity of loans is given below:
2022 2021
£ £
Amounts falling due within one year on demand:
Bank loans 2,169 1,933
Amounts falling due between two and five years:
Bank loans - 2-5 years 21,200 21,200
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal 1,094 3,867
9. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.6.21 in funds funds 31.5.22
£ £ £ £
Unrestricted funds
General fund 17,090 (799) 6,351 22,642
Restricted funds
-
Council Gym Funding 38,129 (6,351) 31,778
TOTAL FUNDS 55,219 (799) - 54,420
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continued... Page 7 **CRICKLEWOOD BOXING CLUB** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022** ## **9. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General fund
**66,736**
**TOTAL FUNDS**
**66,736**
**Comparatives for movement in funds**
At 1.6.20
£
**Unrestricted funds**
General fund
4,147
**Restricted funds**
Council Gym Funding
38,129
**TOTAL FUNDS**
42,276
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
49,978
**TOTAL FUNDS**
49,978
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.6.20
in funds
£
£
**Unrestricted funds**
General fund
4,147
12,144
**Restricted funds**
Council Gym Funding
38,129
-
**TOTAL FUNDS**
42,276
12,144|Resources
Movement
expended
in funds
£
£
**(67,535)**
**(799)**
**(67,535)**
**(799)**
Net
movement
At
in funds
31.5.21
£
£
12,943
17,090
-
38,129
12,943
55,219
Resources
Movement
expended
in funds
£
£
(37,035)
12,943
(37,035)
12,943
Transfers
between
At
funds
31.5.22
£
£
6,351
22,642
(6,351)
31,778
-
54,420| |---|---| continued... Page 8 **CRICKLEWOOD BOXING CLUB** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022** ## **9. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund|Incoming
Resources
resources
expended
£
£
116,714
(104,570)|Movement
in funds
£
12,144| |---|---|---| |**TOTAL FUNDS**|116,714
(104,570)|12,144| ## **10. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 May 2022. Page 9 **CRICKLEWOOD BOXING CLUB** **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2022** **----- Start of picture text -----**
2022 2021
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 8,659 11,405
Grants 34,120 21,826
Admissions 23,957 16,747
66,736 49,978
Total incoming resources 66,736 49,978
EXPENDITURE
Other trading activities
-
Opening stock 1,095
Purchases 8,221 8,232
8,221 9,327
Support costs
Management
Wages 2,077 350
Other operating leases 18,000 7,500
Postage and stationery 1,093 193
Advertising 1,099 190
Refreshments 1,492 526
Travel 7,687 1,814
Motor expenses 1,035 523
32,483 11,096
Finance
Telephone 707 883
Bank charges 804 320
Bank loan interest 719 -
2,230 1,203
Information technology
Repairs and renewals 4,607 2,427
Entertainment 1,032 38
5,639 2,465
Other
Improvements to property 1,528 1,910
Fixtures and fittings 11,947 6,265
Computer equipment 364 293
13,839 8,468
Governance costs
Sundries 2,506 585
Carried forward 2,506 585
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2022 2021
£ £
Governance costs
Brought forward 2,506 585
Accountancy and legal fees 1,200 1,200
No description 1,417 2,691
5,123 4,476
Total resources expended 67,535 37,035
Net (expenditure)/income (799) 12,943
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