2021-06-30-accounts

Charity Registration No. 1180464

Company Registration No. 11394491 (England and Wales)

QUEENSBERRY AMATEUR BOXING CLUB LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr M Griffiths Mr M Crowe Mr P J Plant BA FCA Mr L Mclaren

Charity number 1180464 Company number 11394491 Principal address The Queensberry Hub 175 Newcastle Road Trent Vale Stoke on Trent Staffordshire England ST4 6PZ Registered office 17 Lichfield Street Stone Staffordshire UK ST15 8NA Accountants Plant & Co Limited 17 Lichfield Street Stone Staffordshire ST15 8NA

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

CONTENTS

	Page
Trustees' report	1 - 3
Statement of trustees' responsibilities	4
Accountants' report	5
Statement of financial activities	6
Balance sheet	7 - 8
Notes to the financial statements	9 - 16

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2021

The trustees present their report and financial statements for the year ended 30 June 2021.

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 charity's [governing document], 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

The charity's objects are to benefit local community of Stoke on Trent and surrounding areas by using the sport of boxing to achieve:

1. The advancement of education

• Promote, sustain and increase individual and collective knowledge and understanding of physical education and development of young people.

• Develop individual capabilities, competences, skills and understanding of health and fitness.

• The advancement of health

• Promote fitness and wellbeing of local people, without distinction of race, gender, age, political or religious beliefs.

• Improve health through mental and physical skills, with exertion.

• Provision of facilities for recreation and other leisure-time occupation in the interests of social welfare to improve conditions of life for local people.

• The advancement of citizenship and community development

• Provide outlets for young people to develop and participate in the local community, to improve selfconfidence and reduce fear of crime.

• Promote discipline, friendship, fair play and respect for all in the community, particularly young people.

• Provide constructive alternatives to anti-social behaviour such as drugs and alcohol abuse and provide positive role models through interaction with other young people and our coaching staff.

• Provide opportunities for local volunteers to become involved in the provision of the services and organisation of fund raising events.

• Ensure activities are accessible and affordable to all.

• The advancement of amateur sport

• Promotion of amateur boxing for the benefit of the local community.

• Provision of facilities for learning, coaching and participating in the sport of boxing to improve life conditions.

The policies adopted in furtherance of these objects are ;

• Offering a safe and suitable environment in which to train, learn and box.

• Using experienced, qualified coaches to deliver the training and act as role models.

• Developing individual health and fitness programmes.

• Providing nutritional information.

• Offering fully supervised training sessions to all sections of the local community, sometimes mixed, sometime specific, e.g. age based, sex based, ability based.

• Raising awareness of the benefits of a healthy lifestyle through one to one and group discussion.

• Running regular training sessions, to give those attending to opportunity develop friendships, learn together and feel part of the team.

• Organising fund raising events, such as hosting amateur boxing events, giving the local community to opportunity to both volunteer in the organisation and attend the event to help raise the positive profile of amateur boxing.

• Offering reduced rate/free sessions to those who cannot afford to pay.

The outcomes benefit the residents of Stoke on Trent and local surrounding areas. All residents are able to participate, irrespective of race, gender, age, ability, political or religious beliefs. Special attention is given to the younger members of the community, where we believe the greatest impact can be achieved in public benefit.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

• 1 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

The Charity does not have any paid staff, it is run by many volunteers. The trustees express their thanks to all volunteers who have made it possible for the Charity to achieve its objectives.

Achievements and performance

Financial review

The trustees are pleased with the financial performance of the charity during the year, despite the impact of the COVID-19 pandemic. The charity generated £30,422 (2020 £26,169) of income during the year and £70,774 (2020 £63,610) of grant income. The grant income was received to undertake refurbishment work on the property, which was started during the year, and funds were also received to develop the boxing gym and its equipment. Unrestricted funds at the end of the year were £13,994 (2020 £3,700) and restricted funds were £40,055 (2020 £39,210).

It is the aim of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee , incorporated on 4 June 2019 and registered as a charity on 29 October 2018. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

The trustees have adopted the Charity Commissions Governance Code.

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:

Mr M Griffiths

Mr M Crowe Mr P J Plant BA FCA Mr L Mclaren

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 0 in the event of a winding up.

The directors of the company are also charity trustees for the purposes of charity law.

To ensure that the needs of charity and its beneficiaries are fully understood by the directors, the trustees are recruited dependent on their professional expertise and experience of charity governance. To enhance the potential pool of trustees the charity has used its own social media channels and networks.

The trustees are selected on a rigorous basis. In an effort to maintain a broad skill mix, members are requested to provide a list of their skills (CV) and in the event of particular skills being lost due to retirements, individuals are asked to keep this updated.

• 2 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The company's current policy concerning the payment of trade creditors is to:

• settle the terms of payment with suppliers when agreeing the terms of each transaction;

• ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and

• pay in accordance with the company's contractual and other legal obligations.

The Company did not have any trade creditors at the year end.

The trustees meet bi-monthly and are responsible for the strategic direction and policy of the charity. At present, there are five board members from a variety of professional backgrounds relevant to the work of the charity.

A scheme of delegation is in place which ensures the day to day responsibility for the delivery of the charitable objectives. The trustees are jointly responsible for the implementation of the strategic plan, leading the fundraising efforts and ensuring that key performance indicators are met.

The charity receives significant support from volunteers, who assist with the day-to-day demands of running the service. Volunteers are involved in carrying out core activities at the charity, which, as well as acting as trustees, includes providing coaching and administrative support.

During the year, volunteers contributed coaching and professional services totalling over 3,000 hours, being equal to a value in excess of £75,000.

Trustees are chosen because they are already familiar with the general work of the charity, having been encouraged to take up initial introductory meetings.

Additionally, new trustees are invited to meet with the other trustees to fully familiarise themselves with the charity and the context within which it operates. Such meetings cover;

• The obligations of Trustees.

• The main documents which set out the operational framework for the charity including the Memorandum and Articles.

• Resourcing and the current financial position as set out in the latest published accounts.

• Future plans and objectives.

Trustees are asked to draw information from the various Charity Commission publications along with the Memorandum and Articles and the latest financial statements.

The trustees' r eport was approved by the Board of Trustees.

Mr P J Plant BA FCA Trustee Dated: 28 March 2022

• 3 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 JUNE 2021

The trustees, who are also the directors of Queensberry Amateur Boxing Club Limited 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:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent; and

• 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 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.

• 4 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF QUEENSBERRY AMATEUR BOXING CLUB LIMITED FOR THE YEAR ENDED 30 JUNE 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Queensberry Amateur Boxing Club Limited for the year ended 30 June 2021, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 10 December 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Queensberry Amateur Boxing Club Limited and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Queensberry Amateur Boxing Club Limited and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that Queensberry Amateur Boxing Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Queensberry Amateur Boxing Club Limited. You consider that Queensberry Amateur Boxing Club Limited is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of Queensberry Amateur Boxing Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Plant & Co Limited

28 March 2022

Chartered Accountants

17 Lichfield Street Stone Staffordshire ST15 8NA

• 5 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2021

Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income and endowments from: Donations and legacies 3 - 70,774 Charitable activities 4 30,213 - Other income 5 210 - Total income 30,423 70,774 Expenditure on: Charitable activities 6 20,129 69,929 Net income for the year/ Net movement in funds 10,294 845 Fund balances at 1 July 2020 3,700 39,210 Fund balances at 30 June 2021 13,994 40,055	TotalUnrestricted Restricted funds funds 2021 2020 2020 £ £ £ 70,774 - 63,610 30,213 26,169 - 210 - - 101,197 26,169 63,610 90,058 26,794 42,382 11,139 (625) 21,228 42,910 4,325 17,982 54,049 3,700 39,210	Total 2020 £ 63,610 26,169 - 89,779 69,176 20,603 22,307 42,910

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.

• 6 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

BALANCE SHEET

AS AT 30 JUNE 2021

Notes Fixed assets Tangible assets 9 Investments 10 Current assets Debtors 11 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 Unrestricted funds	2021 £ £ 143,555 1,000 144,555 18,200 18,044 36,244 (3,672) 32,572 177,127 (123,078) 54,049 40,055 13,994 54,049	2020 £ £ 143,555 1,000 144,555 8,200 40,897 49,097 (3,528) 45,569 190,124 (147,214) 42,910 39,210 3,700 42,910

• 7 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2021

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 2021.

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.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 28 March 2022

Mr P J Plant BA FCA

Trustee

Company Registration No. 11394491

• 8 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

1 Accounting policies

Charity information

Queensberry Amateur Boxing Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 17 Lichfield Street, Stone, Staffordshire, ST15 8NA, UK. The Company carries out its charitable activities from The Queensberry Hub, 175 Newcastle Road, Trent Vale, Stoke on Trent, Staffordshire ST4 6PZ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], 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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts 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. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

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.

• 9 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

1 Accounting policies

(Continued)

1.5 Expenditure

• Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable

• trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities

• that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity

• nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

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:

Freehold land and buildings

not depreciated

Freehold property is not depreciated as the residual value of the property is deemed to be at least equal the cost as stated in the financial statements.

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 net income/(expenditure) for the year.

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 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.

• 10 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

1 Accounting policies

(Continued)

1.10 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 p aymen ts 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.

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.

• 11 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

3 Donations and legacies

	Restricted	Restricted
	funds	funds
	2021	2020
	£	£
Grants received	70,774	63,610
Charitable activities
	Charitable	Charitable
	Income	Income
	Towards	Towards
	Primary	Primary
	Objectives	Objectives
	2021	2020
	£	£
Funds raised through boxing activities	4,025	10,762
Donations from subsidiary undertaking	7,000	6,000
Income arising from facility use of The Queensberry Hub	19,188	9,407
	30,213	26,169
Other income
	Unrestricted	Total
	funds
	2021	2020
	£	£
Other income	210	-

4 Charitable activities

5 Other income

• 12 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

6 Charitable activities

	Direct costs	Direct costs
	2021	2020
	£	£
Training and qualification	1,032	2,172
Insurance	3,491	3,246
Repairs and renewals	1,649	378
Transport and travel	1,142	1,415
Stationery	50	-
Rates and water	3,325	5,069
Heat and light	3,817	8,024
Bank charges	-	144
Mortgage interest	3,452	3,886
Subscriptions	703	520
Hire of equipment	1,468	1,940
Spend of grants received	69,929	42,382
	90,058	69,176
	90,058	69,176
Analysis by fund
Unrestricted funds	20,129	26,794
Restricted funds	69,929	42,382
	90,058	69,176

7 Trustees

None of the 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:

	2021	2020
	Number	Number
Total	-	-

• 13 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

9	Tangible fixed assets
			Freehold land and buildings
				£
	Cost
	At 1 July 2020			143,555
	At 30 June 2021			143,555
	Carrying amount
	At 30 June 2021			143,555
	At 30 June 2020			143,555
	The freehold property is stated at cost.
10	Fixed asset investments
				Other
				investments
	Cost or valuation
	At 1 July 2020 & 30 June 2021			1,000
	Carrying amount
	At 30 June 2021			1,000
	At 30 June 2020			1,000
			2021	2020
	Other investments comprise:	Notes	£	£
	Investments in subsidiaries	17	1,000	1,000
11	Debtors
			2021	2020
	Amounts falling due within one year:		£	£
	Amounts owed by subsidiary undertakings		18,200	8,200

• 14 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

12 Loans and overdrafts

Bank loans Loans from related parties Payable within one year Payable after one year	2021 £ 126,750 - 126,750 3,672 123,078	2020 £ 130,287 20,455 150,742 3,528 147,214

The long-term loans are secured by charges over the freehold property 175, Newcastle Road, Trent Vale, Stoke on Trent Staffordshire ST4 6PZ.

The bank loan is secured by a first charge in favour of The Charity Bank Limited of Fosse House, 182 High Street, Tonbridge, Kent TN9 1BE and covers fixed and floating charges over all property or undertaking of the charity.

13 Creditors: amounts falling due within one year

Notes Bank loans 12 14 Creditors: amounts falling due after more than one year Notes Bank loans 12 Other borrowings	2021 £ 3,672 2021 £ 123,078 - 123,078	2020 £ 3,528 2020 £ 126,759 20,455 147,214

• 15 -

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021

15	Analysis of net assets	between funds
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2021	2021	2021	2020	2020	2020
		£	£	£	£	£	£
	Fund balances at 30
	June 2021 are
	represented by:
	Tangible assets	143,555	-	143,555	-	143,555	143,555
	Investments	1,000	-	1,000	-	1,000	1,000
	Current assets/
	(liabilities)	32,572	-	32,572	3,700	41,869	45,569
	Long term liabilities	(123,078)	-	(123,078)	-	(147,214)	(147,214)
		54,049	-	54,049	3,700	39,210	42,910

16 Related party transactions

Save for the related party loan as disclosed in note 11, t here were no disclosable related party transactions during the year .

17 Subsidiaries

Details of the charity's subsidiaries at 30 June 2021 are as follows:

Name of undertaking	Registered	Nature of business	Class of	% Held
	office		shares held	Direct Indirect
Jubilee Social Enterprises	UK	Provision of social facilities	Ordinary	100.00
Limited			Shares

The investments in subsidiaries are stated at cost.

• 16 -

Independent examlner's report to the trustqes of Queensborry Amateur Boxlng Club Lim5ted Charitable Company I'the Company'l I report to the Irijslees on my examination of the accounts of the Company for th& year ended 30 June 2021. Responslbllltles and basis of rawrt As the ¢harity's Iruslees of the Company land also ils directors for the purpose of company lawl you are responsible for the preparation of the accounts in accordance wllh the requirements of the Compani6s Act 2006 (Yhe 2006 Acl'l. Having satisfied myself that the accounts of the Company are not required lo be audlted under Part 16 of the 2006 Act and 8re eligible for indepandent examination, I report in respect of my examination of your charty'5 accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'i. In carrying out my examination I have followed the Dlrectlons given by the Charlty Commission under section 145151 Ibl of the 2011 AGI. Independent èxaminer's Statement I have completed my examination. I confirm that no matters have com8 to my all6ntion in connection with the examination givlng me cause lo believe.. accounting re¢ords were not kept In réspect of the Company a8 required by s&ctlon 386 of the 2006 Act., or 2. the accounts do not accord wllh thos8 records.. or 3. the 8ceounts do not comply wlth the accounllng requirements of secllon 396 of thg 2006 Act other than any requirement that the accounts give B'lrue ond fair vlew which is not a matter c0n8Ide￿d 88 part ot an independent examination., or 4. th8 accounts have not bèan prepared in 8cGordanc@ with the methods and prlnciple8 of the Slalemenl of Recommended Pr8cllce for 8ccountlng and r8portlng by charilios lapplicable lo charftles pr8paring their acGounls in accordancé with the Flnan¢lal Reportlng Standard applleable In the UK and Republic of Ireland IFRS 10211. I have no concerns and have come acro88 no other m8tttrs in connectlon wlth the examlnalion to which attention should be drawn in Ihls raport In order to enabl8 a propér understanding of the a¢counl8 lo be reach$d. Signed.. Name.. Mr Lee Shepherd Relevant professional quallfScalion or membership of proles8lonal bodies Ilf any1= Ch8rtgrgd Institute of Certffj￿d Accounlonls Address.. 2 RaI￿aY Close, PIp8 Gate, Shropshire TF9 4HY Date.. 28 March 2022