CHARITY REGISTRATION NUMBER: 1183432
FC Hartlepool CIO Unaudited Financial Statements
31 May 2021
CENSIS
Chartered accountants Exchange Building 66 Church Street Hartlepool TS24 7DN
FC Hartlepool CIO
Financial Statements
Year ended 31 May 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
FC Hartlepool CIO
Trustees' Annual Report
Year ended 31 May 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 May 2021.
Reference and administrative details
Registered charity name FC Hartlepool CIO Charity registration number 1183432 Principal office Exchange Building 66 Church Street Hartlepool TS24 7DN The trustees Mr S Shaheen Mr J Gould Mr T Hill Mr C Murray Mr P Hackwell Mr C Birbeck Independent examiner Censis Exchange Building 66 Church Street Hartlepool TS24 7DN
Structure, governance and management
The entity is a Charitable Incorporated Organisation, registered with the Charities Commission of England & Wales on 15 May 2019.
The organisation primarily operates as a community football club and as such is also governed by the regional Football Association, that being the Durham FA.
FC Hartlepool CIO is managed by committee with the ultimate responsibility of the entity being with the named trustees.
Objectives and activities
The object of the CIO is the promotion of community participation in health and recreation in particular by the provision of facilities for the playing of football and other sports capable of promoting physical health and fitness.
1
FC Hartlepool CIO
Trustees' Annual Report (continued)
Year ended 31 May 2021
Achievements and performance
The charity has continued to develop and to grow despite the exceptionally difficult circumstances that all sectors have faced in recent years.
Shortly after our reporting year end, everyone associated with FC Hartlepool were, and remain thrilled to have witnessed an historic achievement for the charity - That being the successful candidate in a long and complex process in being awarded a 25 year lease over Grayfields Sports Pavilion and playing fields.
With an effective permanent home secured, FC Hartlepool has since moved from strength to strength in terms of community engagement, expansion of services and most importantly cementing our institution in the heart of the communities of Hartlepool.
Our community Football Club now hosts 29 teams in addition to a thriving 'FC Kickers' section, collectively having a huge positive impact of the health and well being of around 350 children and young people in and around Hartlepool.
The structure that has been set will facilitate controlled and sustained growth from both football operations and community engagement perspectives in each year that we continue to operate.
Our pool of qualified (and soon to be qualified) coaches continues to grow in line with our operations in general.
Looking forward, the charity has grand designs of expanding its services across the local and wider community both through our core offering of Football orientated services, but also through engagement with other third sector entities and the commencement of numerous social enrichment projects.
Sic Itur Ad Astra.
Financial review
The unrestricted reserves of the charity at 31 May 2021 amounted to £67,488 of which free reserves (i.e. those not tied up in fixed assets and desiganted funds) amounted to £4,879.
The designated funds amount to £49,625 representing:
| 2021 | |
|---|---|
| £ | |
| Team Funds | 17,125 |
| 21-23 Sponsorship | 11,500 |
| Clubhouse Fundraising | 21,000 |
The trustees' annual report was approved on 28 July 2022 and signed on behalf of the board of trustees by:
Mr S Shaheen Mr J Gould Trustee Trustee
2
FC Hartlepool CIO
Independent Examiner's Report to the Trustees of FC Hartlepool CIO
Year ended 31 May 2021
I report to the trustees on my examination of the financial statements of FC Hartlepool CIO ('the charity') for the year ended 31 May 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable 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.
Censis Independent Examiner Exchange Building 66 Church Street Hartlepool TS24 7DN
3
FC Hartlepool CIO
Statement of Financial Activities
Year ended 31 May 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 27,528 | 57,991 | 85,519 | 13,323 |
| Other trading activities | 5 | 47,911 | – | 47,911 | 36,641 |
| Investment income | 6 | 23 | – | 23 | 254 |
| Other income | 7 | 610 | – | 610 | – |
| | | | | ||
| Total income | 76,072 | 57,991 | 134,063 | 50,218 | |
| | | | | ||
| Expenditure | |||||
| Expenditure on charitable activities | 8 | 31,236 | 24,491 | 55,727 | 48,534 |
| | | | | ||
| Total expenditure | 31,236 | 24,491 | 55,727 | 48,534 | |
| | | | | ||
| | | | | ||
| Net income | 44,836 | 33,500 | 78,336 | 1,684 | |
| | | | | ||
| Transfers between funds | 19,451 | (19,451) | – | – | |
| | | | | ||
| Net movement in funds | 64,287 | 14,049 | 78,336 | 1,684 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 3,201 | 12,027 | 15,228 | – | |
| | | | | ||
| Total funds carried forward | 67,488 | 26,076 | 93,564 | 1,684 | |
| | | | |
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 6 to 15 form part of these financial statements.
4
FC Hartlepool CIO
Statement of Financial Position
31 May 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 12 | 12,984 | 1,950 |
| Current assets | |||
| Debtors | 13 | 11,500 | 100 |
| Cash at bank and in hand | 69,080 | 13,178 | |
| | | ||
| 80,580 | 13,278 | ||
| | | ||
| Net current assets | 80,580 | 13,278 | |
| | | ||
| Total assets less current liabilities | 93,564 | 15,228 | |
| | | ||
| Funds of the charity | |||
| Restricted funds | 26,076 | 12,027 | |
| Unrestricted funds | 67,488 | 3,201 | |
| | | ||
| Total charity funds | 14 | 93,564 | 15,228 |
| | |
These financial statements were approved by the board of trustees and authorised for issue on 28 July 2022, and are signed on behalf of the board by:
Mr S Shaheen Trustee
Mr J Gould Trustee
The notes on pages 6 to 15 form part of these financial statements.
5
FC Hartlepool CIO
Notes to the Financial Statements
Year ended 31 May 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Exchange Building, 66 Church Street, Hartlepool, TS24 7DN.
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 Charities Act 2011.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. 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.
6
FC Hartlepool CIO
Notes to the Financial Statements (continued)
Year ended 31 May 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:
-
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.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
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.
-
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:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
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.
-
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.
7
Notes to the Financial Statements (continued)
FC Hartlepool CIO
Year ended 31 May 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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 20% reducing balance
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 cashgenerating 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.
8
FC Hartlepool CIO
Notes to the Financial Statements (continued)
Year ended 31 May 2021
3. Accounting policies (continued)
Financial instruments (continued)
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.
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. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Donations and sponsors | 25,528 | – | 25,528 |
| Grants | |||
| Football Foundation | – | 17,531 | 17,531 |
| Tesco | – | 1,000 | 1,000 |
| Sir James Knott Trust | – | 9,500 | 9,500 |
| PFC Trust | – | 27,060 | 27,060 |
| Co Durham Community Fund | – | 1,400 | 1,400 |
| Sports England | 2,000 | – | 2,000 |
| Thirteen Group | – | 1,500 | 1,500 |
| | | | |
| 27,528 | 57,991 | 85,519 | |
| | | | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Donations | |||
| Donations and sponsors | 5,617 | 6,806 | 12,423 |
| Grants | |||
| Grants receivable | – | 900 | 900 |
| | | | |
| 5,617 | 7,706 | 13,323 | |
| | | |
9
FC Hartlepool CIO
Notes to the Financial Statements (continued)
Year ended 31 May 2021
5. Other trading activities
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Subscriptions | 31,103 | – | 31,103 | |
| Fundraising events | 16,808 | – | 16,808 | |
| | | | ||
| 47,911 | – | 47,911 | ||
| | | | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Subscriptions | 15,120 | 17,509 | 32,629 | |
| Fundraising events | 465 | 1,872 | 2,337 | |
| Kit and apparel income | 253 | 1,422 | 1,675 | |
| | | | ||
| 15,838 | 20,803 | 36,641 | ||
| | | | ||
| 6. | Investment income | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Bank interest receivable | 23 | – | 23 | |
| | | | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Bank interest receivable | 8 | 246 | 254 | |
| | | |
10
FC Hartlepool CIO
Notes to the Financial Statements (continued)
Year ended 31 May 2021
7. Other income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Comission | 279 | 279 | – | – | |
| Prize Winnings | 331 | 331 | – | – | |
| | | | | ||
| 610 | 610 | – | – | ||
| | | | | ||
| 8. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Football operations | 31,236 | – | 31,236 | ||
| Football Foundation - Groundworks | – | 16,781 | 16,781 | ||
| Football Foundation - Return to Football | – | 750 | 750 | ||
| Tesco - Covid Impact Support | – | 1,000 | 1,000 | ||
| PFC Trust - Salary Costs | – | 3,060 | 3,060 | ||
| Co Durham Community Fund - Back to Training | – | 1,400 | 1,400 | ||
| Thirteen Group - Sports Equipment | – | 1,500 | 1,500 | ||
| | | | |||
| 31,236 | 24,491 | 55,727 | |||
| | | | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Football operations | 20,322 | 28,212 | 48,534 | ||
| | | | |||
| 20,322 | 28,212 | 48,534 | |||
| | | | |||
| 9. | Net income | ||||
| Net income is stated after charging/(crediting): | |||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 390 | 400 | |||
| | |
10. Staff costs
The average head count of employees during the year was Nil (2020: Nil).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
11
FC Hartlepool CIO
Notes to the Financial Statements (continued)
Year ended 31 May 2021
11. Trustee remuneration and expenses
All trustees provide their services on a volunteer basis and therefore, no remuneration was paid.
12. Tangible fixed assets
| Plant and | Fixtures and | ||||
|---|---|---|---|---|---|
| machinery | fittings | Equipment | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 June 2020 | – | – | 2,350 | 2,350 | |
| Additions | 7,424 | 4,000 | – | 11,424 | |
| | | | | ||
| At 31 May 2021 | 7,424 | 4,000 | 2,350 | 13,774 | |
| | | | | ||
| Depreciation | |||||
| At 1 June 2020 | – | – | 400 | 400 | |
| Charge for the year | – | – | 390 | 390 | |
| | | | | ||
| At 31 May 2021 | – | – | 790 | 790 | |
| | | | | ||
| Carrying amount | |||||
| At 31 May 2021 | 7,424 | 4,000 | 1,560 | 12,984 | |
| | | | | ||
| At 31 May 2020 | – | – | 1,950 | 1,950 | |
| | | | | ||
| 13. | Debtors | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Trade debtors | 11,500 | 100 | |||
| | |
12
FC Hartlepool CIO
Notes to the Financial Statements (continued)
Year ended 31 May 2021
14. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 June 2020 | Income | Expenditure | Transfers | 31 May 2021 | |
| £ | £ | £ | £ | £ | |
| General | 3,201 | 64,572 | (31,236) | (31,658) | 4,879 |
| Team Funds | – | – | – | 17,125 | 17,125 |
| Strip Sponsorship | – | 11,500 | – | – | 11,500 |
| Clubhouse Fundraising | – | – | – | 21,000 | 21,000 |
| Fixed Asset Pool | – | – | – | 12,984 | 12,984 |
| | | | | | |
| 3,201 | 76,072 | (31,236) | 19,451 | 67,488 | |
| | | | | | |
| At | At | ||||
| 1 June 2019 | Income | Expenditure | Transfers | 31 May 2020 | |
| £ | £ | £ | £ | £ | |
| General | – | 21,463 | (20,322) | 2,060 | 3,201 |
| | | | | | |
| – | 21,463 | (20,322) | 2,060 | 3,201 | |
| | | | | |
13
FC Hartlepool CIO
Notes to the Financial Statements (continued)
Year ended 31 May 2021
14. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 June 2020 | Income | Expenditure | Transfers | 31 May 2021 | |
| £ | £ | £ | £ | £ | |
| Football Foundation | |||||
| Groundworks | 12,027 | 16,781 | (16,781) | (12,027) | – |
| Football Foundation - | |||||
| Return to Football | – | 1,000 | (1,000) | – | – |
| Tesco Covid Impact | |||||
| Support | – | 750 | (750) | – | – |
| Sir James Knott Trust | – | 9,500 | – | (7,424) | 2,076 |
| PFC Trust | – | 27,060 | (3,060) | – | 24,000 |
| Co Durham Community | |||||
| Fund | – | 1,400 | (1,400) | – | – |
| Thirteen Group | – | 1,500 | (1,500) | – | – |
| | | | | | |
| 12,027 | 57,991 | (24,491) | (19,451) | 26,076 | |
| | | | | | |
| At | At | ||||
| 1 June 2019 | Income | Expenditure | Transfers | 31 May 2020 | |
| £ | £ | £ | £ | £ | |
| Football Foundation | |||||
| Groundworks | – | 28,755 | (28,212) | 11,484 | 12,027 |
| | | | | | |
| – | 28,755 | (28,212) | 11,484 | 12,027 | |
| | | | | |
14
FC Hartlepool CIO
Notes to the Financial Statements (continued)
Year ended 31 May 2021
15. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 12,984 | – | 12,984 |
| Current assets | 54,504 | 26,076 | 80,580 |
| | | | |
| Net assets | 67,488 | 26,076 | 93,564 |
| | | | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Tangible fixed assets | 1,950 | – | 1,950 |
| Current assets | 1,251 | 12,027 | 13,278 |
| | | | |
| Net assets | 3,201 | 12,027 | 15,228 |
| | | |
15