CHARITY REGISTRATION NUMBER: 1181305
SILLOTH ON SOLWAY SPORTS ASSOCIATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
David Allen
Chartered Accountants Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY
SILLOTH ON SOLWAY SPORTS ASSOCIATION
CONTENTS
| Trustees' report | 1 to 4 |
|---|---|
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 to 16 |
SILLOTH ON SOLWAY SPORTS ASSOCIATION
TRUSTEES' REPORT
The trustees present the annual report together with the financial statements of the charity for the year ended 30 September 2022.
OBJECTIVES AND ACTIVITIES
The principal object of the charity is to provide for the benefit of the local community the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reasons of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the local community.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
ACHIEVEMENTS AND PERFORMANCE
The Silloth Sports Association has had a good year, especially during the winter months. Monday to Friday evenings are usually fully booked up. During very wet weather the pitches have been flooded, so extra bookings have been requested and accommodated.
Stanwix Park holiday park continue to support us during the school holidays, and holidaymaker bookings are also increasing.
We hosted a sporting activities summer camp during the school summer holidays with great success, and managed to obtain some grants to fund these days, which included coaching for football, multisports, cricket and tennis.
Although we are a small committee, we continue to work towards encouraging children to participate in outdoor sporting activities to assist health and wellbeing.
FINANCIAL REVIEW
The charity has total funds of £114,822 (2021: £114,322) carried forward at the year end. Of this £86,847 (2021: £90,861) is restricted and £27,975 (2021: £24,361) is unrestricted funds.
During 2022 there was a total surplus of £500 (2021: £3,334 deficit). Of this there was a surplus of £4,514 (2021: £638 deficit) for unrestricted and £4,014 (2021: £2,696) deficit for restricted.
The trustees have reviewed the charity's needs for contingency reserves in line with the guidance issued by the Charity Commission. The trustees aim to maintain reserves at current levels.
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
TRUSTEES' REPORT (CONTINUED)
REFERENCE AND ADMINISTRATIVE DETAILS
Charity Registration Number 1181305 Principal Office 13 Waver Street Silloth Wigton CA7 4DF Independent Examiner Alison Welton David Allen Chartered Accountants Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY Bankers Cumberland Building Society 12 Bridge Street Appleby-in-Westmorland CA16 6QH
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees Mrs Z D Bewley Mr C Baty Mr S G Hart Mrs M Baty
STRUCTURE, GOVERNANCE AND MANAGEMENT
Silloth on Solway Sports Association is a Charitable Incorporated Organisation registered on 20 December 2018.
The charity is governed by its CIO - FOUNDATION.
The members of the committe are elected at the Annual General Meeting and all members must be members of the association.
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
TRUSTEES' REPORT (CONTINUED)
FINANCIAL INSTRUMENTS
The charity's activities expose it to a number of financial risks including credit risk and cash flow risk.
The charity's activities expose it primarily to the financial risks of changes in interest rates.
The charity’s principal financial assets are bank balances and cash.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
TRUSTEES' REPORT (CONTINUED)
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees 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).
The law applicable to charities in England and Wales 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 income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for maintaining proper accounting records which 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 Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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.
The annual report was approved by the trustees of the charity on 7 March 2023 and signed on its behalf by:
......................................... Mrs M Baty Trustee
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SILLOTH ON SOLWAY SPORTS ASSOCIATION
I report to the charity trustees on my examination of the accounts of the charity for the period ended 30 September 2022 which are set out on pages 6 to 16.
Responsibilities and basis of report
As the charity trustees of Silloth on Solway Sports Association you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Silloth on Solway Sports Association's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Silloth on Solway Sports Association as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Alison Welton FCA Independent Examiner
Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY
Date: 7 March 2023
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Note Income from: Donations, legacies and grants 2 Charitable activities 3 Investment income 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 Note Income from: Donations, legacies and grants 2 Charitable activities 3 Investment income 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 |
Unrestricted £ 1,000 8,931 7 9,938 (5,424) (5,424) 4,514 23,461 27,975 Unrestricted £ 1,000 2,210 7 3,217 (3,855) (3,855) (638) 24,099 23,461 |
Restricted £ 851 - - 851 (4,865) (4,865) (4,014) 90,861 86,847 Restricted £ 1,787 - - 1,787 (4,483) (4,483) (2,696) 93,557 90,861 |
Total 2022 £ 1,851 8,931 7 |
|---|---|---|---|
| 10,789 | |||
| (10,289) | |||
| (10,289) | |||
| 500 114,322 |
|||
| 114,822 | |||
| Total 2021 £ 2,787 2,210 7 |
|||
| 5,004 | |||
| (8,338) | |||
| (8,338) | |||
| (3,334) 117,656 |
|||
| 114,322 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for both years is shown in note 13.
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
BALANCE SHEET AS AT 30 SEPTEMBER 2022
| Note Fixed assets Tangible assets 11 Current assets Cash at bank and in hand Creditors: Amounts falling due within one year 12 Net current assets Net assets Funds of the charity: Restricted 13 Unrestricted income funds Unrestricted 13 Total funds 13 |
2022 £ 107,212 8,598 (988) 7,610 114,822 86,847 27,975 114,822 |
2021 £ 111,110 4,012 (800) |
|---|---|---|
| 3,212 | ||
| 114,322 | ||
| 90,861 23,461 |
||
| 114,322 |
The financial statements on pages 6 to 16 were approved by the trustees, and authorised for issue on 7 March 2023 and signed on their behalf by:
......................................... Mrs M Baty Trustee
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
1 ACCOUNTING POLICIES
Statement of compliance
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Silloth on Solway Sports Association meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grant have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included in the balance sheet as deferred income to be released. Grants receivable from government and other agencies have been included as income from activities in furtherance of the charity's objects where these amount to a contract for services but as donations where money is given with a greater freedom of use.
Interest received is recognised when receivable and amount can be measured reliably.
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 (CONTINUED)
1 ACCOUNTING POLICIES (continued)
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources. Other support costs are allocated based on the spread of staff costs.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent exam, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010. The charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £200 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Plant and Machinery 4% Straight line Furniture and Fittings 25% Reducing balance
These two asset classes are combined and recognised in the fixed asset note under the name of Multi Use Games Area.
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 (CONTINUED)
1 ACCOUNTING POLICIES (continued)
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities are classified according to the substance of the contractual arrangements entered into.
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 (CONTINUED)
2 INCOME FROM DONATIONS, LEGACIES AND GRANTS RECEIVABLE
| Unrestricted funds General £ Donations and legacies; Donations from individuals 1,000 Grants Grants - 1,000 3 INCOME FROM CHARITABLE ACTIVITIES Multi Use Games Area 4 INVESTMENT INCOME Interest receivable and similar income; Interest receivable on bank deposits |
Restricted funds £ - 851 851 Unrestricted General £ 8,931 Unrestricted General £ 7 |
Total 2022 £ 1,000 851 1,851 Total 2022 £ 8,931 Total 2022 £ 7 |
Total 2021 £ 2,787 - |
|---|---|---|---|
| 2,787 | |||
| Total 2021 £ 2,210 |
|||
| Total 2021 £ 7 |
5 EXPENDITURE ON CHARITABLE ACTIVITIES
| Note Depreciation, amortisation and other similar costs Allocated support costs Governance costs 6 |
Unrestricted funds General £ 1,091 3,613 720 5,424 |
Restricted funds £ 4,365 500 - 4,865 |
Total 2022 £ 5,456 4,113 720 10,289 |
Total 2021 £ 5,537 2,176 625 |
|---|---|---|---|---|
| 8,338 |
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 (CONTINUED)
5 EXPENDITURE ON CHARITABLE ACTIVITIES (continued)
| Note Depreciation, amortisation and other similar costs Allocated support costs Governance costs 6 |
Unrestricted funds General £ 1,054 2,176 625 3,855 |
Restricted funds £ 4,483 - - 4,483 |
Total 2021 £ 5,537 2,176 625 |
|---|---|---|---|
| 8,338 |
6 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS
Governance costs
| Independent examiner fees Other fees paid to examiners |
Unrestricted General £ 720 720 |
Total 2022 £ 720 720 |
Total 2021 £ 625 |
|---|---|---|---|
| 625 |
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 (CONTINUED)
7 NET INCOMING/OUTGOING RESOURCES
Net incoming/(outgoing) resources for the year include:
| Depreciation of fixed assets | 2022 £ 5,456 |
2021 £ 5,537 |
|---|---|---|
8 TRUSTEES REMUNERATION AND EXPENSES
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
9 STAFF COSTS
The monthly average number of persons employed by the charity during the year was nil (2021:nil).
No employee received emoluments of more than £60,000 during the year.
10TAXATION
The charity is a registered charity and is therefore exempt from taxation.
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 (CONTINUED)
11TANGIBLE FIXED ASSETS
| Cost At 1 October 2021 Additions At 30 September 2022 Depreciation At 1 October 2021 Charge for the year At 30 September 2022 Net book value At 30 September 2022 At 30 September 2021 12CREDITORS: amounts falling due within one year Other creditors Accruals |
Multi Use Games Area £ 127,142 1,558 |
Total £ 127,142 1,558 128,700 16,032 5,456 21,488 107,212 111,110 2021 £ - 800 |
||
|---|---|---|---|---|
| 128,700 | ||||
| 16,032 5,456 |
||||
| 21,488 | ||||
| 107,212 | ||||
| 111,110 | ||||
| 2022 £ 68 920 988 |
||||
| 800 |
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 (CONTINUED)
13FUNDS
| Unrestricted funds General Restricted funds Total funds Unrestricted funds General Restricted funds Total funds |
Balance at 1 October 2021 £ 23,461 90,861 114,322 Balance at 1 October 2020 £ 24,099 93,557 117,656 |
Incoming resources £ 9,938 851 10,789 Incoming resources £ 3,217 1,787 5,004 |
Resources expended £ (5,424) (4,865) (10,289) Resources expended £ (3,855) (4,483) (8,338) |
Balance at 30 September 2022 £ 27,975 86,847 |
|---|---|---|---|---|
| 114,822 | ||||
| Balance at 30 September 2021 £ 23,461 90,861 |
||||
| 114,322 |
Within restricted funds is funding received from grants for sporting activity days and these funds were fully expensed in the year. The balance of funds brought forward and carried forward represents funding received and expensed on the Multi Use Games Area and represents the Net Book Value.
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SILLOTH ON SOLWAY SPORTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 (CONTINUED)
14ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 20,465 6,598 868 27,931 Unrestricted funds General £ 20,249 4,012 (800) 23,461 |
Restricted funds £ 86,747 - - 86,747 Restricted funds £ 90,861 - - 90,861 |
Total funds at 30 September 2022 £ 107,212 6,598 868 |
|---|---|---|---|
| 114,678 | |||
| Total funds at 30 September 2021 £ 111,110 4,012 (800) |
|||
| 114,322 |
15RELATED PARTY TRANSACTIONS
There were no related party transactions in the year.
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