COMPANY REGISTRATION NUMBER: 10924397 CHARITY REGISTRATION NUMBER: 1180849
Herne Bay Sports Hub
Company Limited by Guarantee Unaudited Financial Statements
31 August 2021
BURGESS HODGSON LLP
Chartered accountants Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
Herne Bay Sports Hub
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
Herne Bay Sports Hub
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2021.
Reference and administrative details
Registered charity name Herne Bay Sports Hub Charity registration number 1180849 Company registration number 10924397 Principal office and registered 45 Pigeon Lane office Herne Bay Kent CT6 7ES The trustees Mr P J Beeson Mr C M Cripps Mr H J Evans Ms A M Gibbs Ms L C Marks Mr G G L Miles Mr J Taylor Mr M R W Todd Mr J Warden Independent examiner Robert Field FCA CTA Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
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Herne Bay Sports Hub
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2021
Structure, governance and management
Herne Bay Sports Hub is a charitable company limited by guarantee not having share capital, registered in England (No. 10924397) and is a registered charity (No. 1180849).
The Herne Bay Sports Hub is home to four of Herne Bay's amateur sports clubs boasting state of the art sports facilities. These include two full size hockey pitches, a full size artificial football pitch and two grass mini pitches, six tennis courts and a cricket ground. All the artificial surfaces are floodlit.
The trustees have delegated the day to day running of the charity to Jon Warden.
The trustees are selected by the four clubs where the representation is two members per club.
Risk management
The trustees are satisfied that they have assessed the major risks to which the charitable company is exposed. Systems have been established to mitigate those risks and are periodically reviewed to ensure they are still meeting the charitable company's needs.
Volunteers
Volunteers make up the back bone of the amateur sports clubs working at all levels. These volunteers embody the Charity's objectives and provide coaching and mentoring to the members of the clubs in a fun and safe setting. Volunteers also provide leadership and governance to the Charity via the team of trustees.
Objectives and activities
The charity's objects are specifically restricted to the advancement of amateur sport for the benefit of the public of Herne Bay and the surrounding area, in particular but not exclusively by providing facilities for playing Cricket, Football, Hockey and Tennis.
Each component club values their role in creating a successful and fully inclusive community. As such, each club works with all sexes, genders and abilities supported by the Hub.
In planning our activities over the year we kept in mind the Charity Commissions guidance on public benefit and looked to align these activities against our objectives regularly at our quarterly trustee meetings, our clubs monthly executive meetings and throughout the season.
Achievements and performance
The Football, Hockey and Tennis clubs all run over twenty teams each in leagues throughout Kent. The Cricket club currently runs one senior team with plans to develop their junior section.
The Hockey and Tennis clubs welcome both adult and junior new members and have a program of coaching to offer something for every ability and age.
The Football club has a growing mini soccer section where children from the age of 5 can come along for sessions in a fun and safe setting.
Both Football and Hockey have a thriving Walking Hockey/Football section.
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Herne Bay Sports Hub
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2021
Financial review
Any accumulated profits are retained in the Sports Hub to ensure the facilities are maintained and developed to cater for the growing local membership.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 30 May 2022 and signed on behalf of the board of trustees by:
Mr J Warden Trustee
Charity Secretary
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Herne Bay Sports Hub
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Herne Bay Sports Hub
Year ended 31 August 2021
I report to the trustees on my examination of the financial statements of Herne Bay Sports Hub ('the charity') for the year ended 31 August 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 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 accounting requirements of section 396 of the 2006 Act 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; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Robert Field FCA CTA Independent Examiner
Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
25 August 2023
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Herne Bay Sports Hub
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2021
| 2021 | |||
|---|---|---|---|
| Unrestricted | |||
| fundsTotal funds | |||
| Note | £ | £ | |
| Income and endowments | |||
| Donations and legacies | 5 | 110,872 | 110,872 |
| Other trading activities | 6 | 16,544 | 16,544 |
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| Total income | 127,416 | 127,416 | |
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| Expenditure | |||
| Expenditure on raising funds: | |||
| Costs of other trading activities | 7 | 22,345 | 22,345 |
| Expenditure on charitable activities | 8,9 | 4,217 | 4,217 |
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| Total expenditure | 26,562 | 26,562 | |
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| Net income and net movement in funds | 100,854 | 100,854 | |
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| Reconciliation of funds | |||
| Total funds brought forward | – | – | |
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| Total funds carried forward | 100,854 | 100,854 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 12 form part of these financial statements.
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Herne Bay Sports Hub
Company Limited by Guarantee
Statement of Financial Position
31 August 2021
| 2021 | |||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 12 | 83,611 | |
| Current assets | |||
| Cash at bank and in hand | 34,839 | ||
| Creditors: amounts falling due within one year | 13 | 17,596 | |
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| Net current assets | 17,243 | ||
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| Total assets less current liabilities | 100,854 | ||
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| Funds of the charity | |||
| Unrestricted funds | 100,854 | ||
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| Total charity funds | 14 | 100,854 | |
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For the year ending 31 August 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 30 May 2022, and are signed on behalf of the board by:
Mr J Warden Trustee
The notes on pages 7 to 12 form part of these financial statements.
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Herne Bay Sports Hub
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 45 Pigeon Lane, Herne Bay, Kent, CT6 7ES.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity has taken advantage of disclosure exemptions as is a small charity therefore has omitted to prepare a cash flow statement.
Judgements and key sources of estimation uncertainty
In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Herne Bay Sports Hub
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
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:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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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.
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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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Herne Bay Sports Hub
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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Herne Bay Sports Hub
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The charitable company is limited by guarantee and has no share capital. In the event of the charity winding up, the liability in respect of the guarantee is limited to £1 per member of the charity.
5. Donations and legacies
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Donations | ||
| Donated assets | 82,598 | 82,598 |
| COVID support grants | 18,274 | 18,274 |
| Grants | ||
| Unrestricted grant income | 10,000 | 10,000 |
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| 110,872 | 110,872 | |
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6. Other trading activities
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Bar Income | 16,244 | 16,244 |
| Hire income | 300 | 300 |
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| 16,544 | 16,544 | |
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Herne Bay Sports Hub
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
7. Costs of other trading activities
| Unrestricted | Total Funds | ||
|---|---|---|---|
| Funds | 2021 | ||
| £ | £ | ||
| Bar costs | 22,345 | 22,345 | |
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| 8. | Expenditure on charitable activities by fund type | ||
| Unrestricted | Total Funds | ||
| Funds | 2021 | ||
| £ | £ | ||
| Sports Hub facilities | 4,217 | 4,217 | |
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| 9. | Expenditure on charitable activities by activity type | ||
| Activities | |||
| undertaken | Total funds | ||
| directly | 2021 | ||
| £ | £ | ||
| Sports Hub facilities | 4,217 | 4,217 | |
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| 10. | Staff costs |
The average head count of employees during the year was Nil.
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
11. Trustee remuneration and expenses
The charity trustees were not paid and did not receive any other benefits from employment with the charitable company in the year. No charity trustee received payment for professional or other services supplied to the charity.
During the year one trustee incurred charitable expenses on behalf of the charity of £11,088 and £11,088 was due to them at the year end.
12. Tangible fixed assets
| Equipment | Total | |
|---|---|---|
| £ | £ | |
| Cost | ||
| At 1 September 2020 | – | – |
| Additions | 83,611 | 83,611 |
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| At 31 August 2021 | 83,611 | 83,611 |
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| Depreciation | ||
| At 1 September 2020 and 31 August 2021 | – | – |
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| Carrying amount | ||
| At 31 August 2021 | 83,611 | 83,611 |
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Herne Bay Sports Hub
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
13. Creditors: amounts falling due within one year
| 2021 | |
|---|---|
| £ | |
| Trade creditors | 6,508 |
| Other creditors | 11,088 |
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| 17,596 | |
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| 14. | Analysis of charitable funds | ||||
|---|---|---|---|---|---|
| Unrestricted funds | |||||
| At | At | ||||
| 1 | September | 31 August 20 | |||
| 2020 | Income | Expenditure | 21 | ||
| £ | £ | £ | £ | ||
| General funds | – | 127,416 | (26,562) | 100,854 |
|
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| 15. | Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2021 | ||||
| £ | £ | ||||
| Tangible fixed assets | 83,611 | 83,611 | |||
| Current assets | 34,839 | 34,839 | |||
| Creditors less than 1 year | (17,596) | (17,596) |
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| Net assets | 100,854 | 100,854 | |||
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