LONG MELFORD COMMUNITY SPORTS TRUST REGISTERED CHARITY NO. 1182089 COMPANY NO. CE016551
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2022
MOORE GREEN CHARTERED ACCOUNTANTS SUDBURY SUFFOLK
LONG MELFORD COMMUNITY SPORTS TRUST
CONTENTS
| Page | |
|---|---|
| Charity Information | 1 |
| Trustees’ Report | 2-4 |
| Independent Examiners Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8-11 |
1
LONG MELFORD COMMUNITY SPORTS TRUST
CHARITY INFORMATION
| Trustees | P Turner |
|---|---|
| R Bowden | |
| L Mellish | |
| C Coombes | |
| J Nunn | |
| G Thomas | |
| Registered Office | 10 Spring Gardens |
| Cock & Bell Lane | |
| Long Melford | |
| Sudbury CO10 9JW | |
| Independent Examiners | Moore Green |
| 22 Friars Street | |
| Sudbury CO10 2AA | |
| Bankers | NatWest plc |
| Solicitors | Holmes and Hills |
| Braintree Essex | |
| Company number | CE016551 |
| Charity number | 1182089 |
2
LONG MELFORD COMMUNITY SPORTS TRUST
YEAR ENDED 30 SEPTEMBER 2022
TRUSTEES REPORT
The Trustees present their report with the accounts of Long Melford Community Sports Trust for the year ended 30 September 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and the Charities Statement of Recommended Practice (second edition) and Financial Reporting Standard FRS 102.
Statement of Trustees Responsibilities
The charity trustees are responsible for preparing a trustees’ annual report and 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 charity trustees to prepare financial statements for each 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, of the charity for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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make judgments and 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 whether the financial statements have been prepared in accordance with the Statement of Recommended Practice, Accounting by Charities, issued by the Charity Commission; and
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prepare the financial statements on the going concern basis unless it is appropriate to presume that the Charity will not continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to 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 Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
3
LONG MELFORD COMMUNITY SPORTS TRUST
YEAR ENDED 30 SEPTEMBER 2022
TRUSTEES REPORT (CONTINUED)
Trustees
The Trustees in office during the year were as follows:
P Turner
R Bowden
L Mellish
C Coombes
D Turner (resigned 26.08.2022)
J Nunn
R Edwards (resigned 25.03.2022)
G Thomas
S Adams (resigned 07.01.2022)
Appointment of Trustees is governed by the constitution. The Trustees are authorised to appoint new trustees to fill vacancies through resignation or death of an existing trustee.
Objectives and activities for the public benefit
The objects of the charity are to promote and develop sports and recreation facilities and opportunities in Long Melford for people of all ages and abilities.
The new sports and social pavilion is under construction. The Covid pandemic has impacted on build progress and the delivery times and cost of materials.
The Trustees continue to review their ambitions and plans within the guidance by the Charity Commission on public benefit.
The Trustees continue to use their best efforts to recruit and retain volunteers. They have done much to improve the fabric of the external infrastructure.
Achievements and Performance
The determination by Trustees to see our new clubhouse up and running has been the priority for this year. The build programme had been severely impacted by the Covid pandemic, supply chain issues and the rapid rise in material costs. The new building was formally opened in September 2022. The modern facilities have been greatly appreciated by both home and visiting teams and officials. Community use of the building is developing slowly with a range of weekly activities now on offer. The Trust is fortunate in having a small but hard-working group of volunteers and positive relationships have formed with other partner organisations.
LONG MELFORD COMMUNrrY SPORTSTRusr YEAR ENDED 30 SEPTEMBER 2022 TRUSTEES REPORT (CONTINUED) Flnancial Review The Trust ha5 ralsed sufficient funds in principle to meet the tonstruction costs of the new pavilion. The bulk of current reserves will contribute to the cost of the new pavilion. Trustees are planning to build a working capital fund to finante the first yearfs opefation of the new facility The amount of reserves held at 30 September 2022 was £614,7891unrestrictedl comprisin8 primarily the construrtion of the new clubhouse facilities as shown in fixed assets. The Trust has an enthustastic experienced mana8ernent team underpinned by appropriate management control5. Structure, Governance and M¥nqement The organlsation is a registered charity. number 1182089, and Is constituted under a constitution of a Charitable Incorporated Or8anisation dated I September 2018. New trustees are appointed by the existing trustees and serve for four years after whlch they may put themselves forward for re-appointmenL The Trust Deed provides for a minimum of five trustees. to a maximum of nine. In selecting indiwduals for appolntment as charlty trustee5. the charlty trustees must have regard to the skllls, knowledge and experience needed for effective adminlstration of the CIO. The charlty must also try to seek a gender balance and try to encourage younger people to become trustees. The Trust has attracted a range of individuals with experience in projert and financial management, leisure, and sports provision. working With people of all ages including those with addrtional needs. Funds held as custodlan Tnee5 on behalf of Othe No assets are held at present. Approved by the trustees on and signed on their behalf by: P Turner PTURNER CHAIR ofTRUSTEES
5
LONG MELFORD COMMUNITY SPORTS TRUST
YEAR ENDED 30 SEPTEMBER 2022
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF LONG MELFORD COMMUNITY SPORTS TRUST
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 September 2022 which are set out on pages 5 to 10.
Responsibilities and basis of report
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
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 the charity as required by section 130 of the Act; or
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the accounts do not accord with those records
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.
Vincent Chandler ACA FCCA Moore Green Chartered Accountants & Registered Auditors 22 Friars Street Sudbury Suffolk CO10 2AA
07.07.2023 Date..........................................
6
LONG MELFORD COMMUNITY SPORTS TRUST
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 30 SEPTEMBER 2022
| INCOMING RESOURCES Grants and Donations RESOURCES EXPENDED Direct Charitable Expenditure Indirect Expenditure: Administration Expenses TOTAL RESOURCES EXPENDED NET (OUTGOING)/INCOMING RESOURCES Other Gains and Losses: NET MOVEMENT IN FUNDS AS AT 1 OCTOBER 2021 AS AT 30 SEPTEMBER 2022 |
Notes 2 3 4 8 |
Unrestricted £ 32,983 23,321 1,260 24,581 8,402 0 8,402 606,387 614,789 |
Restricted £ - - - - 0 0 0 0 0 2022 |
Total £ 32,983 23,321 1,260 24,581 8,402 0 8,402 606,387 614,789 |
2021 Total £ 615,686 20,038 930 |
||
|---|---|---|---|---|---|---|---|
| 20,968 | |||||||
| 594,718 0 |
|||||||
| 594,718 11,669 |
|||||||
| 606,387 |
Notes
- Incoming/outgoing resources and movements in reserves arise from continuing operations.
LONG MELFORD COMMUNttY SPORTS TRUST BALANCE SHE YEAR ENDED 30 SEPTEMBER 2022 2022 Restricted 2021 Total Notes Unrestricted Total FIXED ASSETS Tanglble Assets 639,078 639.078 634,805 CURRENT ASSETS Debtors Cash at Bank 8.567 8.567 2,842 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 132,8561 132,8561 131,2601 NET CURRENT ASSETS 614,789 614,789 606,387 FUNDS Unrestrlcted Income Fund 614.789 614.789 606,387 Restricted Fund 614.789 614.789 606,387 These flnancial statements were approved by the Trustees on Mr P Turner Chair 271612S C Coombes Treasurer
8
LONG MELFORD COMMUNITY SPORTS TRUST
YEAR ENDED 30 SEPTEMBER 2022
NOTES TO THE FINANCIAL STATEMENTS
- 1 ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Long Melford Community Sports Trust meets the definition of a public liability entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Donation and grant income
Grants are provided by relevant entities within the Charities auspice and are specific to the charity activities covering either ongoing revenue or capital development. Donations are raised to supplement this. The income is recorded on a received basis as it is not committed to the charity until such time as it is received by the charity.
Expenditure
Expenditure is recorded as it is incurred. In respect of Trustees expenses and reimbursements these must be approved by the Trustees as a whole and relate solely to the charity’s activities.
Accumulated Funds
The Unrestricted Fund represents accumulated annual surplus of income. There are no restricted funds or endowment funds.
Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Freehold land and buildings - not depreciated
Plant and machinery - 25% reducing balance
Land and buildings were valued using historical cost basis and the building was still under construction at the end of the financial year.
9
LONG MELFORD COMMUNITY SPORTS TRUST NOTES TO THE ACCOUNTS YEAR ENDED 30 SEPTEMBER 2022
| 2 GRANTS AND DONATIONS Voluntary donations Grants received 3 RESOURCES EXPENDED Professional fees Grounds maintenance Rates and licences Insurance Hire costs Donations Bank charges Depreciation Entertaining 4 ADMINISTRATION EXPENSES Unrestricted Independent Examination Fees |
2022 £ 1,580 31,403 32,983 2022 £ 234 7,822 - 3,813 937 4,800 32 5,293 390 23,321 2022 £ 1,260 |
2021 £ 25,877 589,809 |
|---|---|---|
| 615,686 | ||
| 2021 £ - 8,178 713 267 938 2,500 573 6,869 - |
||
| 20,038 | ||
| 2021 £ 930 |
5 TRUSTEES
No trustees received any remuneration, nor had any expenses reimbursed to them. There were no employed staff in the year (2020: nil).
See related party note 10.
10
LONG MELFORD COMMUNITY SPORTS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 30 SEPTEMBER 2022
6 TANGIBLE FIXED ASSETS
| Cost or valuation: At 01/10/2021 Additions Disposals Revaluation At 30/09/2022 Depreciation: At 01/10/2021 Charge for the year Impairment Revaluation Elimination on disposals At 30/09/2022 Net book value: At 30/09/2022 At 01/10/2021 |
Land and Buildings 614,200 9,000 - - 623,200 - - - - - - 623,200 614,200 |
Plant and Machinery 27,474 566 - - 28040 6,869 5,293 - - - 12,162 15,878 20,605 |
Total 641,674 9,566 - - |
|---|---|---|---|
| 651,240 | |||
| 6,869 5,293 - - - |
|||
| 12,162 | |||
| 639,078 | |||
| 634,805 |
7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Expenses Accrued Other creditors 8 RECONCILIATION OF FUNDS 1 October 2021 Net (Outgoing)/Incoming Resources (Page 6) 30 September 2022 |
2022 £ 1,320 31,536 32,856 Unrestricted Fund £ 606,387 8,402 614,789 |
2021 £ 1,260 30,000 31,260 Restricted Fund £ - - - |
2022 Total £ 606,387 8,402 614,789 |
2021 £ 11,669 594,718 |
||
|---|---|---|---|---|---|---|
| 606,387 |
11
LONG MELFORD COMMUNITY SPORTS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 30 SEPTEMBER 2022
9 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| 30 September 2022 Restricted Income Funds: Unrestricted Income Funds: TOTAL FUNDS 30 September 2021 Restricted Income Funds: Unrestricted Income Funds: TOTAL FUNDS |
Fixed Assets £ 0 639,078 639,078 Fixed Assets £ 0 634,805 634,805 |
Investments £ 0 0 0 Investments £ 0 0 0 |
Net current assets £ 0 (24,289) (24,289) Net current assets £ 0 (28,418) (28,418) |
Total £ 0 614,789 |
|---|---|---|---|---|
| 614,789 | ||||
| Total £ 0 606,387 |
||||
| 606,387 |
10 RELATED PARTY TRANSACTIONS
Information about related party transactions and outstanding balances is outlined below:
| Outstanding | ||||
|---|---|---|---|---|
| Income | Expenditure | Balances | ||
| Trustees - loans to the charity | ||||
| At | 30/09/2022 | - | - | 31,536 |
| At | 30/09/2021 | - | - | 30,000 |
| These loans are interest free, but during the year it | was agreed to | repay the capital at 15% p.a. | ||
| and | the first payments were made in August 2022 |
Stoneylands Facility Management CIC - share common key personnel, operational facilities
and common purpose with Long Melford Community Sports Trust. The outstanding balances were:
| At | 30/09/2022 | 4,800 |
|---|---|---|
| At | 30/09/2021 | 2,500 |