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2023-06-30-accounts

Charity registration number 1180464

Company registration number 11394491 (England and Wales)

QUEENSBERRY AMATEUR BOXING CLUB LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr M Griffiths Mr P J Plant BA FCA Mr L Mclaren Mr E J Plant (Appointed 27 February 2023) Mrs A Griffiths (Appointed 27 February 2023) Charity number 1180464 Company number 11394491 Principal address The Queensberry Hub 175 Newcastle Road Trent Vale Stoke on Trent Staffordshire England ST4 6PZ Accountants Plant & Co Limited 17 Lichfield Street Stone Staffordshire ST15 8NA

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Accountants' report 6
Statement of financial activities 7
Balance sheet 8 - 9
Notes to the financial statements 10 - 18

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2023

The trustees present their annual 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 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

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

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

  4. The advancement of health

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

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

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

  8. The advancement of citizenship and community development

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

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

  11. 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.

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

  13. Ensure activities are accessible and affordable to all.

  14. The advancement of amateur sport

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

  16. 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;

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.

Public benefit

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

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

Volunteers

The Charity temporarily employed one part time member of staff during the year, but is predominantly run by its 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

Significant activities and achievements against objectives

Financial review

The trustees are pleased with the financial performance of the charity during the year. The charity generated £52,029 (2022 £57,726) of income during the year and £15,427 (2022 £74,947) of grant income. The grant income in 2022 was primarily received to undertake improvements to the property, the funds from which were used in the 2023 year end. Funds were also received to continue to provide boxing sessions to young people and female only classes. Unrestricted funds at the end of the year were £44,893 (2022 £45,686) and restricted funds were £1,811 (2022 £53,228).

Reserves policy

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.

Major risks

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 2018 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 (Resigned 27 February 2023) Mr P J Plant BA FCA Mr L Mclaren Mr E J Plant (Appointed 27 February 2023) Mrs A Griffiths (Appointed 27 February 2023)

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

Recruitment and appointment of trustees

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 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.

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:

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

Organisational structure

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 3,850 hours, being equal to a value in excess of £96,000.

Induction and training of trustees

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;

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

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

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

Mr P J Plant BA FCA Trustee

30 April 2024

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 JUNE 2023

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:

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.

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 2023

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 2023, 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 https://www.icaew.com/regulation.

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 1 February 2024. 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 deficit of Queensberry Amateur Boxing Club Limited. You consider that Queensberry Amateur Boxing Club Limited is exempt from the statutory audit requirement for the year, but is 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

30 April 2024

Chartered Accountants

17 Lichfield Street Stone Staffordshire ST15 8NA

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
-
15,427
Charitable activities
4
52,029
-
Total income
52,029
15,427
Expenditure on:
Charitable activities
5
52,822
66,844
Total expenditure
52,822
66,844
Net income/(expenditure) and
movement in funds
(793)
(51,417)
Reconciliation of funds:
Fund balances at 1 July 2022
45,686
53,228
Fund balances at 30 June
2023
44,893
1,811		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
15,427
12,000
74,947
52,029
45,726
-
67,456
57,726
74,947
119,666
26,034
61,774
119,666
26,034
61,774
(52,210)
31,692
13,173
98,914
13,994
40,055
46,704
45,686
53,228		 Total
2022
£
86,947
45,726
132,673
87,808
87,808
44,865
54,049
98,914

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

BALANCE SHEET

AS AT 30 JUNE 2023

Notes
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Net assets excluding pension liability
Net assets
The funds of the charity
Restricted income funds
Unrestricted funds		 2023
£
£
155,825
1,000
156,825
3,613
10,188
13,801
(5,657)
8,144
164,969
(118,265)
46,704
46,704
1,811
44,893
46,704		 2022
£
£
161,960
1,000
162,960
8,200
59,771
67,971
(6,250)
61,721
224,681
(125,767)
98,914
98,914
53,228
45,686
98,914

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 2023.

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.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2023

The financial statements were approved by the trustees on 30 April 2024

Mr P J Plant BA FCA

Trustee

Company registration number 11394491 (England and Wales)

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

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 . 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, 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 charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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. 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 or grantors 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.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

(Continued)

1.5 Expenditure

· expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

· 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 Motor vehicles 25% reducing balance

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 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 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.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

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 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.

1.11 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.

1.12 Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

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.

3 Donations and legacies

Restricted Unrestricted Restricted Total
funds funds funds
2023 2022 2022 2022
£ £ £ £
Grants and donations received 15,427 - 74,947 74,947
Donated goods and services - 12,000 - 12,000

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Funds raised through boxing activities 19,060 16,869
Donations from subsidiary undertaking 18,778 10,000
Income arising from facility use of The Queensberry Hub 14,191 18,857
52,029 45,726

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

5 Charitable activities

**Direct costs ** Direct costs
2023 2022
£ £
Staff costs 2,185 -
Depreciation and impairment 6,135 6,135
Training and qualification 1,130 1,482
Insurance 4,235 4,942
Repairs and renewals 3,746 2,130
Transport and travel 3,796 3,280
Stationery 343 535
Rates and water 4,167 5,679
Heat and light 14,008 14,231
Hire purchase interest 1,663 763
Mortgage interest 7,329 5,678
Sundry expenses 1,405 860
Hire of equipment 2,680 1,394
Spend of grants received 66,844 40,699
119,666 87,808
119,666 87,808
Analysis by fund
Unrestricted funds 52,822 26,034
Restricted funds 66,844 61,774
119,666 87,808
6 Net movement in funds 2023 2022
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 6,135 6,135

7 Trustees

Save for the amounts below, none of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

During the year two trustees received £1,960 each to deliver grant funded coaching to female only boxers.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

8 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries		 2023
Number
1
2023
£
2,185		 2022
Number
1
2022
£
-

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

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10 Tangible fixed assets

Freehold land
and buildings
£
Cost
At 1 July 2022
143,555
At 30 June 2023
143,555
Depreciation and impairment
At 1 July 2022
-
Depreciation charged in the year
-
At 30 June 2023
-
Carrying amount
At 30 June 2023
143,555
At 30 June 2022
143,555		 Motor
vehicles
£
24,540
24,540
6,135
6,135
12,270
12,270
18,405		 Total
£
168,095
168,095
6,135
6,135
12,270
155,825
161,960

The freehold property is stated at cost.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

11 Fixed asset investments

Cost or valuation
At 1 July 2022 & 30 June 2023
Carrying amount
At 30 June 2023
At 30 June 2022
Other investments comprise:
Notes
Investments in subsidiaries
20
12
Debtors
Amounts falling due within one year:
Amounts owed by subsidiary undertakings
13
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 Other
investments
£
1,000
1,000
1,000
2023
2022
£
£
1,000
1,000
2023
2022
£
£
3,613
8,200
2023
2022
£
£
121,205
124,284
3,079
3,672
118,126
120,612

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.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

14 Finance lease obligations

Future minimum lease payments due under finance leases:

Within one year
Within two and five years		 2023
£
2,578
139
2,717		 2022
£
2,578
5,155
7,733

15 Creditors: amounts falling due within one year

Notes
Bank loans
13
Obligations under finance leases
14
Creditors: amounts falling due after more than one year
Notes
Bank loans
13
Obligations under finance leases
14		 2023
£
3,079
2,578
5,657
2023
£
118,126
139
118,265		 2022
£
3,672
2,578
6,250
2022
£
120,612
5,155
125,767

16 Creditors: amounts falling due after more than one year

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2022
Incoming
resources
Resources
expended
At
£
£
£
General funds
45,686
52,029
(52,822)
Previous year:
At 1 July 2021
Incoming
resources
Resources
expended
At
£
£
£
General funds
13,994
57,726
(26,034)		 30 June
2023
£
44,893
30 June
2022
£
45,686

QUEENSBERRY AMATEUR BOXING CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

18 Analysis of net assets between funds

Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 30 June 2023:
Tangible assets 155,825 - 155,825
Investments 1,000 - 1,000
Current assets/(liabilities) 6,333 1,811 8,144
Long term liabilities (118,265) - (118,265)
44,893 1,811 46,704
Unrestricted Restricted Total
funds funds
2022 2022 2022
£ £ £
At 30 June 2022:
Tangible assets 161,960 - 161,960
Investments 1,000 - 1,000
Current assets/(liabilities) 8,493 53,228 61,721
Long term liabilities (125,767) - (125,767)
45,686 53,228 98,914

19 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

20 Subsidiaries

Details of the charity's subsidiaries at 30 June 2023 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.

Independent examingr's report to thè trustees of Queensberry Amateur Boxing Club Llmlted Charitablè Company {'the Company'l I report to the Iruslees on my examination of the accounts of the Company for the year ended 30 June 2023. Ro8pon8lbllltles and basis of report As the charity's trustees of th8 Company land also ils directors for the purpose of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of Ihe Companies AGI 20061.the 2006 A¢l'l. Havlng satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of Ihe 2006 Act and are eligible for independent examinallon, I report in respeGt of my examination of your charity's accounts as carried out under sectlon 145 of the Charilies Act 2011 I'lhe 2011 Acl'l. In Carrying out my examination I have followed the DlreGlions given by the Charity Commlsslon under section 145151 Ibl of the 2011 Act. Ind8p8ndont examiner's statamant I have completed my examination. I conflrm that no m¥llers have come to my all&nllon In connection wllh the examination glving me cause lo believe., accounting recoids were not kept In respeot of th8 Company as requlred by section 38e of the 2006 Act., or 2. the accounts do not accord wllh those records., or 3. the accounts do not comply with the a¢¢ountlng requirements of Secllon 396 of the 2008 Act other than any requirement that the accounts glve a 'lrue and fair vlew whlch Is not a maller consldered as parl of an Independent examSnallon', or 4. the accounts hav8 not been prepared in accordance with the melhod$ and princlples of the Slalemenl of Recommended PraGlice for acGounling and reporting by charities lapplicable to charitle8 preparlng thelr accounts in accordance with the Flnancial Reportlng Standard applicable in the UK and Republlc of Ireland IFRS 10211. I have no Concerns and have ¢ome a¢ross no other matters in connection wlth the examination lo whlch atlentlon should be drawn In this report in order to enable a proper understandSng of the accounts lo be reached. Slgned.. Name.. Mr Lee Shepherd Relevant profe55ional qualification or membershlp of professional bodie8 lif any).. Chartered Institute ol Certlfied Accountants Address.. 121, Nanlwieh Road, Audley, Sloke-on-Trenl ST7 8DL Dale.. 30 April 2024