Charity Registration No. 1179824 (England and Wales)
BST MMA ACADEMY (CHARITABLE INCORPORATED ORGANISATION)
REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MARCH 2022
BST MMA ACADEMY (CHARITABLE INCORPORATED ORGANISATION)
REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MARCH 2022
| Page | CONTENTS |
|---|---|
| 1 | Legal and administrative information |
| 2 – 3 | Trustees’ Annual Report |
| 4 | Independent Examiners’ Report |
| 5 | Statement of financial activities |
| 6 | Balance sheet |
| 7 - 8 | Notes to the financial statements |
BST MMA ACADEMY (CHARITABLE INCORPORATED ORGANISATION)
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31[ST] MARCH 2022
| Charity Registration | 5thSeptember 2018 | |
|---|---|---|
| Charity Number | 1179824 | |
| Charity Trustees | C Rogers | Chair |
| ` | J Trueman | Fundraising Secretary |
| D Batten | Appointed 1stApril 2022 | |
| R Hollis | ||
| Principal Address | Bostock House | |
| Gambrel Road | ||
| Westgate Industrial | Estate | |
| Northampton | ||
| NN5 5DJ | ||
| Independent Examiner | Topaz Solutions Limited | |
| Chartered Accountants | ||
| 5 Giffard Court | ||
| Millbrook Close | ||
| Northampton | ||
| NN5 5JF |
Page 1
BST MMA ACADEMY (CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2022
The trustees present their report and the unaudited financial statements for the year ended 31[st] March 2022. The information set out on page 1 forms part of this report.
Structure, Governance and Management
Governing Document
The organisation is a charitable incorporated organisation governed, by its Constitution adopted 5[th] September 2018.
Trustees
The trustees who have served throughout the year, unless a date of appointment or resignation is noted, are listed on page 1 of this report. The Trustees are appointed or reappointed every three years at the Annual General Meeting.
All trustees give their lime voluntarily and received no remuneration or other benefits.
Risk Management
The trustees conduct their review of the risks to which the charity is exposed and establish systems to mitigate those risks. These systems are periodically reviewed to ensure they still meet the needs of the charity both now and in the future.
There is a child protection policy in place. Criminal Records Bureau checks are conducted prior to commencement of employment or trusteeship and checks are carried out again in line with statutory requirements.
Objectives and Activities
The object of the CIO is for the promotion of community participation in healthy recreation for the benefit of the Inhabitants of Northampton and surrounding areas by the provision of facilities for mixed martial arts, more specifically :
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to advance the mental, physical and spiritual health through the participation in mixed martial arts; and
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to give everyone a chance to compete at the highest level they can obtain for their country at their chosen martial art.
Public Benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the organisation’s aims and objectives and in planning future activities.
Achievements and Performance
Throughout the 2021/ 22 financial year, the organisation continued to support the training of the juniors and adults who compete at an Olympic level, in addition to commencing to rebuild the community programme of outreach to local adults and children.
The Trustees continually review the operations and activities of the organisation which were severely affected by the COVID-19 pandemic in the 2020/21 financial year.
In November 2021 the organisation was able to purchase its own property thanks to significant contributions and donations from the Trustees, BST Judo and a loan from BST Judo which has been fully repaid during the year. The organisation continues to be grateful to BST Judo Academy for their continued support and contribution to our activities
Page 2
BST MMA ACADEMY (CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2022 (continued)
Financial Review
The charity made an extraordinary surplus for the year of £521,409 due to donations received towards the purchase of the premises the organisation operated from. The donations have been used for the purchase of the property and this is reflected in the net assets of the organisation.
Reserves Policy
Unrestricted funds, which are the free reserves of the Charity, comprise the operating fund of the Charity. It is the policy of the Charity to maintain the operating fund at a level to provide sufficient funds to cover all relevant costs to see the existing activities through to a satisfactory conclusion. Due to the nature of the activities of the Charity, this may vary significantly depending upon when in the calendar year such funds may be required. In the opinion of the Trustees, an appropriate level equates to approximately 3 months of unrestricted charitable expenditure. The Trustees monitor the unrestricted funds on an ongoing basis and review the reserves policy, including the level of reserves held, on an annual basis.
Statement of Trustees’ Responsibilities
The charity’s trustees are responsible for preparing the Annual Report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Practice.
Company law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the income and its financial activities for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently.
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make judgements and estimates that are reasonable and prudent.
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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 operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ascertain the financial position of the charity and which 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.
This report, has been prepared in accordance with FRS 102 CHARITIES SORP.
This report was approved by the Trustees 31[st] January 2023 and signed on their behalf by:
.............................. C Rogers Chair
Page 3
INDEPENDENT EXAMINORS REPORT
TO THE MEMBERS OF BST MMA ACADEMY (CHARITABLE INCORPORATED ORGANISATION)
I report on the financial statements of BST MMA Academy for the year ended 31[st] March 2022 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this 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 charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the trustees of the charity, you are responsible for the preparation of the in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the charity Commission under section 145(5)(b) of the Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
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 that in any material respect:
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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 financial statements do not accord with those records; or
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the financial statements 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 financial statements to be reached.
Vanessa Graham FCA Topaz Solutions Limited Chartered Accountants & Registered Auditor
5 Giffard Court Millbrook Close Northampton NN5 5JF 31[st] January 2023
Page 4
BST MMA ACADEMY (CHARITABLE INCORPORATED ORGANISATION)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST MARCH 2022
| Notes | 2022 | 2021 | |
|---|---|---|---|
| Total | Total | ||
| Funds | Funds | ||
| £ | £ | ||
| Income and endowments from: | |||
| Donations and legacies | 554,201 | 76,371 | |
| Income from charitable activities: | |||
| Grants receivable | 30,118 | - | |
| Fees receivable | 10,815 | - | |
| ────── | ────── | ||
| Total income | 595,134 | 76,371 | |
| ────── | ────── | ||
| Expenditure on: | |||
| Expenditure on charitable activities | 2 | 73,725 | 72,642 |
| ────── | ────── | ||
| Total Expenditure | 73,725 | 72,642 | |
| ────── | ────── | ||
| Net movement in funds | 521,409 | 3,729 | |
| Total funds brought forward | 63,729 | 60,000 | |
| ────── | ────── | ||
| Total funds carried forward | 585,138 | 55,234 | |
| ═════ | ═════ |
Page 5
BST MMA ACADEMY (CHARITABLE INCORPORATED ORGANISATION)
BALANCE SHEET
AS AT 31ST MARCH 2022
| Notes | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Fixed Assets | ||||||
| Tangible fixed assets | 4 | 565,088 | 60,000 | |||
| Current Assets | ||||||
| Cash at bank and in hand | 50 | 3,729 | ||||
| ───── | ───── | |||||
| Net Assets | 565,138 | 63,729 | ||||
| ═════ | ═════ | |||||
| Represented by: | ||||||
| Unrestricted funds | 565,138 | 63,729 | ||||
| ───── | ───── | |||||
| 565,138 | 63,729 | |||||
| ═════ | ═════ |
Approved by the Board for issue on 31[st] January 2023
.............................. C Rogers Chair
Page 6
BST MMA ACADEMY (CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MARCH 2022
1 Accounting policies
1.1 Basis of preparation
The Financial Statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom and with FRS 102 CHARITIES SORP.
1.2
Incoming resources
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. There has been no offsetting of assets and liabilities or income and expenses, unless required or permitted by the FRS 102 CHARITIES SORP or FRS 102.
Grants and donations are included in the Statement of Financial Activities when the general income criteria are met in accordance with paragraphs 5.10 to 5.12 of FRS 102 CHARITIES SORP.
Legacies are included within the Statement of Financial Activities when receipt is probable, that is when there has been grant of probate, the executors have established that there are sufficient assets in the estate and that any conditions attached to the legacy are either within the control of the charity or have been met.
1.3
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designated funds are unrestricted funds set aside by the Trustees for use for specific purposes. Restricted funds are grants and donations which have been received for specific projects of the charity.
1.4 Tangible Fixed Assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value over their expected useful lives on the following basis: Equipment, fixtures and fittings - 25% Straight line
1.5 Expenditure
Expenditure is recognised when there is a legal or constructive obligation to make a payment to a third party. Costs of charitable activities comprise the costs incurred by the Charity to meet its charitable objectives, the provision of services and facilities. Support costs are those costs incurred to enable the Charity to deliver its programme of activities.
| 2 | Expenditure on charitable activities | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Coaches, training fees and clothing | 38,571 | 5,938 | |
| Rent of premises | 35,154 | 65,000 | |
| Other support costs | - | 1,704 | |
| ────── | ────── | ||
| 73,725 | 72,642 | ||
| ═════ | ═════ |
Page 7
BST MMA ACADEMY (CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31ST MARCH 2022
Trustees Remuneration 3
The Trustees did not receive any remuneration during the year under review and there were no reimbursed expenses (2021 - £nil).
| 4 | Tangible Fixed Assets | Land & | Office |
|---|---|---|---|
| Buildings | Equipment | ||
| £ | £ | ||
| At Cost | |||
| At 1stApril 2021 | - | 60,000 | |
| Additions | 525,088 | - | |
| ────── | ────── | ||
| At 31stMarch 2022 | 525,088 | 60,000 | |
| ────── | ────── |
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