## **BRIGHTON PHOENIX ATHLETICS AND TRIATHLON CLUB** **(Registered charity 1183179)** **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED** **31 DECEMBER 2022** Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2022 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 2022 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 2022 Registered charity: 1183179 ## **Trustees’ Report** ## **for the year ended 31 December 2022** The Trustees present their annual report and the financial statements for the year ended 31 December 2022. 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 four trustees as follows: - Michael Townley (Chair) - Josh Guilmant (Vice-Chair) - Darryl Hards (Treasurer) - 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: - Michael Townley (Chair) - Josh Guilmant (Vice-Chair) - Darryl Hards (Treasurer) - Malcolm Kemp (Director of Coaching) - VACANT (Club Secretary) - Chelsey Powderhill (Club Captain) - Tom Hooper (Club Captain) - VACANT (Communications Officer) - Nerine Standen (Membership Coordinator) - Alex Garrod (Social Secretary) - Sarah Russell (Parents’ Representative) - 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. 2 Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2022 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. In 2022 the Club increased membership fees resulting in a return to profitability. A further increase is proposed for 2023 given the rising costs of operating anticipated in 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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - 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 D Hards Chair Treasurer** 3 Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2022 Registered charity: 1183179 ## **Statement of financial activities for the year ended 31 December 2022** ||**Note**|**2022**|2021| |---|---|---|---| |||**£**|£| |**Revenue:**|||| |Membership fees and kit sales1||**23,604**|13,730| |**Other income:**|||| |Phoenix 10k income2||**1,223**|(1,336)| |Brighton Half marathon3||**0**|(700)| |**Total income**|2|**24,827**|11,694| |Operating expenses||**(23,535)**|(18,761)| |**Net operating income / (expenditure)**||**1,292**|(7,067)| |Interest income||**6**|1| |**Net income /(expenditure) for the financialyear**||**1,298**|(7,066)| Operating profit is derived from continuing operations. > 1 Includes membership fees, kit sales (after purchases of stock), and net receipts from training sessions. 2 2022 amount, is net of £1,100 donation. 2021 amount is net of £1,000 donation from total race profits across both 2021 and 2020, following the cancellation of the 2020 race. 3 Debtor of £700 written off in the period following Board decision not to request payment from another charity. 4 Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2022 Registered charity: 1183179 ## **Balance sheet** ## **as at 31 December 2022** |||**2021**|2021| |---|---|---|---| ||Note|**£**|£| |**Fixed assets**|||| |Property,plant, and equipment|5|**0**|0| |||**0**|0| |**Current assets**|||| |Debtors|6|**0**|0| |Cash at bank and in hand||**21,696**|20,398| |||**21,696**|20,398| |**Creditors**|7|**0**|0| |**Net current assets**||**21,696**|20,398| |**Creditors:**amounts falling due after more than one year|7|**0**|0| |**Net assets**||**21,696**|20,398| |**Funds**|||| |Unrestricted income funds|8|**21,696**|20,398| |**Total funds**||**21,696**|20,398| These financial statements were approved by the Board of Trustees on 21 March 2023 and were signed on its behalf by: ## **D Hards Treasurer** 5 Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2022 Registered charity: 1183179 ## **Notes to the financial statements (continued)** ## **for the year ended 31 December 2022** ## **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: - Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. - 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. - Donated services and facilities are included at the value to the charity where this can be quantified. - The value of services provided by volunteers has not been included. - 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 2022 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** ||**2022**|**2021**| |---|---|---| ||**£**|**£**| |Membership subscriptions|**25,160**|**15,757**| |Cash deposits / kit sales|**(1,463)**|**(2,553)**| |Phoenix 10k net income|**1,223**|**(1,336)**| |Brighton Half|**0**|**(700)**| |Net income from training sessions|**(93)**|**526**| |Total income|**24,827**|**11,694**| ## **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. 7 Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2022 Registered charity: 1183179 ## **6. Debtors** No unpaid debtors existed at the balance sheet date. ## **7. Creditors** No unpaid creditors existed at the balance sheet date. ## **8. Unrestricted funds** |General funds from charitable purposes|1 January
2022
**Incoming**
**resources**
**Outgoing**
**resources**
**31 December**
**2022**
£
**£**
**£**
**£**
20,398
**24,833**
**(23,535)**
**21,696**| |---|---| ## **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.** 8 Brighton Phoenix Athletics and Triathlon Club Financial statements Year ended 31 December 2022 Registered charity: 1183179 ## **Detailed statement of financial activities** |**Revenue:**
Membership subscriptions
Kit sales (less purchases)
**Other income:**
Phx 10k
Btn ½
Swimming
**Total revenue**
**Operating expenses:**
EA and reg fees
Other affiliation fees
Track hire
BMC subscriptions
Race / league entries
Training / coaching / courses / equipment
Awards night (tickets less venue costs)
Awards night prizes
U11/U13 race initiative
Other misc. exp (incl. website fees)
**Total operating expenditure**
**Net operating income / (expenditure)**
**Interest income**
**Net income / (expenditure)**|**2022**
**2021**
£25,160
£15,757
(£1,463)
(£2,553)
£1,223
(£1,336)
£0
(£700)
(£93)
£526| |---|---| ||**£24,827**
**£11,694**
(£7,227)
(£5,955)
(£325)
(£185)
(£9,542)
(£7,422)
(£90)
(£175)
(£1,879)
(£818)
(£1,922)
(£2,061)
(£385)
(£832)
(£474)
(£1,014)
(£1,304)
£0
(£387)
(£299)| ||**(£23,535)**
**(£18,761)**| ||**£1,292**
**(£7,067)**
**£6**
**£1**| ||**£1,298**
**(£7,076)**| 9