BRIGHTON PHOENIX ATHLETICS AND TRIATHLON CLUB
(Registered charity 1183179)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2021
Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2021 Registered charity: 1183179
Contents
| Contents | |
|---|---|
| Page | |
| Legal and administrative information | 1 |
| Trustees’ report | 2-3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6-8 |
Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2021 Registered charity: 1183179
Legal and administrative information
| Charity Number Business address Trustees Bankers Website Date of registration Organisation Type |
1183179 12 Lloyd Road Hove BN3 6NL Michael Townley Josh Guilmant Darryl Hards Malcolm Kemp Barclays Bank plc http://www.brightonphoenix.org.uk 29 April 2019 Charitable Incorporated Organisation (CIO) |
|---|---|
Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2021 Registered charity: 1183179
Trustees’ Report
for the year ended 31 December 2021
The Trustees present their annual report and the financial statements for the year ended 31 December 2021. The trustees who served during the year and up to the date of this report are set out on Page 1.
Structure, governance and management
Board of Trustees
The Board of the Charity, Brighton Phoenix Athletics and Triathlon Club, consists of the 4 trustees as follows:
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Michael Townley (Chair)
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Josh Guilmant (Vice-Chair)
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Darryl Hards (Treasurer)
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Malcolm Kemp (Director of Coaching)
Committee Members
In addition, a sub-committee of the Board exists which is responsible for the day to day operations of the Club and is made up of the following members:
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Michael Townley (Chair)
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Josh Guilmant (Vice-Chair)
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Darryl Hards (Treasurer)
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Malcolm Kemp (Director of Coaching)
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Orlane Parkinson (Club Secretary)
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Chelsey Hallam (Club Captain)
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Tom Hooper (Club Captain)
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Rich Newman (Communications Officer)
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Nerine Standen (Membership Coordinator)
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Steve Selby (Social Secretary)
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Sarah Russell (Parents’ Representative)
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Geoff Pike (Multi-sport Representative)
Each of the above committee members have different roles in the club and meet on a bi-monthly basis discussing all significant aspects of the organisation. Decisions are made by majority votes.
Objectives and activities
General object
The objects of Brighton Phoenix are the promotion of community participation in healthy recreation for the public benefit in Brighton and the surrounding area by providing facilities for athletics, triathlon, and other sports capable of promoting physical health and fitness. The Club organises sporting activities, provides equipment, offers coaching in athletics, triathlon, and other sports, provides training opportunities and opportunities to participate in races and competitions of different types, and support and education specifically relating to training for and competing in athletics, triathlon, and other sports on an amateur basis.
In 2019 we registered the Club as a Charitable Incorporated Organisation. It was felt by operating as a Charity the Club could continue to grow and build on existing success, laying a strong foundation for future achievements, inclusion, community participation, and sporting excellence.
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Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2021 Registered charity: 1183179
Financial review
The financial position of the Club is satisfactory, and the Committee continues to work hard in maintaining a healthy bank balance whilst encouraging participation and competition through sustainable funding.
However, because of the uncertainty of the Covid-19 pandemic no increase in annual membership fees occurred in 2020 or 2021, despite the Club’s investment in subsidising weekly track hire, with a resultant loss incurred in the 2021 financial year. As such it is proposed for membership fees to be increased in 2022 and 2023.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 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 charity and of the incoming resources and application of resources of the charity for that year. 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 estimates that are reasonable and prudent;
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state whether applicable UK 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 operation.
The trustees are responsible for keeping 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 and the Charity (Accounts and Reports) Regulations 2008. 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 criminal conduct.
On behalf of the board
M Townley Chair
D Hards
Treasurer
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Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2021 Registered charity: 1183179
Statement of financial activities
for the year ended 31 December 2021
| Note | 2021 | 2020 | |
|---|---|---|---|
| £ | £ | ||
| Revenue: | |||
| Membership fees and kit sales1 | 13,730 | 10,510 | |
| Other income: | |||
| Phoenix 10k income2 | (1,336) | 2,342 | |
| Open meeting | 0 | 0 | |
| Brighton Half marathon3 | (700) | 0 | |
| Total income | 2 | 11,694 | 12,852 |
| Operating expenses | (18,761) | (12,485) | |
| Net operating income / (expenditure) | (7,067) | 367 | |
| Interest income | 1 | 6 | |
| Net income /(expenditure) for the financialyear | (7,066) | 373 |
Operating profit is derived from continuing operations.
1 Includes membership fees, kit sales (after purchases of stock), and net receipts from training sessions. 2 2021 amount, is net of £1,000 donation from total race profits across both 2021 and 2020. The 2020 figure includes entries (£1,569) that were deferred until the 2021 race, following cancellation in 2020. 3 Debtor of £700 written off in the period following Board decision not to request payment from another charity.
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Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2021 Registered charity: 1183179
Balance sheet
as at 31 December 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Property,plant and equipment | 5 | 0 | 0 |
| 0 | 0 | ||
| Current assets | |||
| Debtors | 6 | 0 | 700 |
| Cash at bank and in hand | 20,398 | 26,764 | |
| 20,398 | 27,464 | ||
| Creditors | 7 | 0 | 0 |
| Net current assets | 20,398 | 27,464 | |
| Creditors:amounts falling due after more than one year | 7 | 0 | 0 |
| Net assets | 20,398 | 27,464 | |
| Funds | |||
| Unrestricted income funds | 8 | 20,398 | 27,464 |
| Total funds | 20,398 | 27,464 |
These financial statements were approved by the Board of Trustees on 14 March 2022 and were signed on its behalf by:
D Hards Treasurer
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Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2021 Registered charity: 1183179
Notes to the financial statements (continued)
for the year ended 31 December 2021
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1 Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Charities Act 2011.
1.2 Cashflow
The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small charity.
1.3 Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to categories of income:
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Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable.
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Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
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Donated services and facilities are included at the value to the charity where this can be quantified.
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The value of services provided by volunteers has not been included.
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Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
1.4 Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes such as sales of kit.
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.
1.5 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Fixtures, fittings and equipment - 20% reducing balance
Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2021 Registered charity: 1183179
1.6 Leasing
Rentals payable under operating leases are charged against income on a straight-line basis over the lease term.
1.7 Stock
Stock is expensed through the profit and loss account on a cost basis. Kit sales are recorded as revenue, less stock purchases.
2. Income
Income from operating activities
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Membership subscriptions | 15,757 | 11,548 |
| Cash deposits / kit sales | (2,553) | (395) |
| Phoenix 10k net income | (1,336) | 2,342 |
| Open meeting | 0 | 0 |
| Brighton Half | (700) | 0 |
| Net income from training sessions | 526 | (643) |
| Total income | 11,694 | 12,852 |
3. Employees
3.1 Employment costs
No salaries or wages have been paid to employees, including the trustees, during the year.
3.2 Number of employees
The average monthly numbers of employees (including the trustees) during the year, calculated based on full time equivalents, was as follows:
| 2021 | 2020 | |
|---|---|---|
| Number of trustees | 4 | 5 |
4. Trustees’ emoluments
There were no employees during the year apart from the trustees. None of the trustees are paid for their services.
5. Tangible fixed assets
No tangible fixed assets were held by the Club in the period.
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Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2021 Registered charity: 1183179
6. Debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Brighton Half Marathon fee | 0 | 700 |
| Debtors | 0 | 700 |
7. Creditors
No unpaid creditors existed at the balance sheet date.
8. Unrestricted funds
| General funds from charitable purposes | 1 January 2021 Incoming resources Outgoing resources 31 December 2011 £ £ £ £ 27,464 11,695 (18,761) 20,398 |
|---|---|
9. Subsequent events
There were no subsequent adjusting or non-adjusting post balance sheet events.
The following pages do not form part of the statutory accounts.
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Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2021 Registered charity: 1183179
Detailed statement of financial activities
| Revenue: Membership subscriptions Kit sales (less purchases) Other income: Phx 10k Open mtg (excl. track hire) Btn 1/2 Circuits Turbo/Swimming Total revenue Operating expenses: EA and reg fees Other affiliation fees Track hire BMC subscriptions Race /league entries Training / coaching / courses / equipment Subsidised swimming Awards night (tickets and venue costs) Awards night prizes Other misc. exp (incl. website fees) Total operating expenditure Net operating income / (expenditure) Interest income Net income / (expenditure) |
2021 2020 £15,757 £11,548 (£2,553) (£395) (£1,336) £2,342 - - (£700) - - (£606) £526 (£37) |
|---|---|
| £11,694 £12,852 (£5,955) (£3,960) (£185) (£385) (£7,422) (£4,686) (£175) (£55) (£818) (£820) (£2,061) (£1,687) - - (£832) - (£1,014) (£763) (£299) (£129) |
|
| (£18,761) (£12,485) |
|
| (£7,067) £367 £1 £6 |
|
| (£7,066) £373 |
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