**Charity Registration No. 1185139 (England and Wales)**
## **LONDON YOUNG STARS ELITE**
(Charitable Incorporated Organisation)
**CHARITY REGISTRATION No: 1185139**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
_Amzes Accountant_ _**AMZES LTD**_
_**www.amzes-accountancy.co.uk** Unit 14 East shopping Centre 232-236 Green Street London E7 8LE_
1
## **LONDON YOUNG STARS ELITE** (Charitable Incorporated Organisation) **ANNUAL REPORT AND UNAUDITED ACCOUNTS CONTENTS**
||**Page**|
|---|---|
|Legal and Administrative information|3|
|Trustees' report|4-5|
|Statement of financial Activities|6|
|Statement of financial position|7|
|Notes to the accounts|8-19|
|Independent Examiner's Report|20|
2
**LONDON YOUNG STARS ELITE CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2023**
**Trustees at 31 March 2023** Dean Kirrage Jonathan Clarke Victor Salako Yddalaz Addy Dayo Martins Nathan Manning-Joseph **Charity Number** 1185139 (England and Wales) **Date of Registration** 2[nd] September 2019 **Start of Financial Period** 1[st] April 2022 **End of Financial Period** 31[st] March[ 2023 ]
**Legal Status** Charitable Incorporated Organisation
**GOVERNING INSTRUMENT** CIO - Foundation Registered 2nd September 2019 and Amended 16th April 2020
## _**Objects**_
_**1. To advance the amateur sport of Association Football for the public by providing or assisting in the provision of facilities for children and young people to play Association Football ("Facilities" means Land, Buildings, Equipment and Organising Sporting Activities) 2. To provide and assist in providing facilities for sport, recreation and other leisure time occupation of people who have need for such facilities because of their youth, age, infirmity or disablement, poverty or social and economic circumstances for the public at large in the interest of social welfare and with the object of improving their conditions of life.**_
**Registered Office** Kemp House 124 City Road London EC1V 2NX United Kingdom **Primary Bankers** Metro Bank Plc 1 Southampton Row London WC1B 5HA **Independent Examiners** AMZES ACCOUNTANTS Amzes Ltd Unit 14 East shopping Centre 232-236 Green Street London London E7 8LE
3
## **LONDON YOUNG STARS ELITE** (Charitable Incorporated Organisation) **TRUSTEES REPORT**
## **FOR YEAR ENDED 31 MARCH 2023**
The trustees present their report and accounts for the year ended 31 March 2023.
## **Trustees**
The following trustees held office during the whole of the period:
Dean Kirrage Jonathan Clarke Victor Salako Yddalaz Addy Dayo Martins Nathan Manning-Joseph
## **Organisational Growth and Achievements Report**
Over the past two years, our charitable organisation has demonstrated substantial growth and success in various programs aimed at fostering community engagement and youth development. This report provides an overview of our achievements, expansion efforts, and notable initiatives.
## **Membership and Program Expansion:**
Since February 2021, our organization has witnessed a significant increase in membership, with a current enrollment of approximately 150 individuals across various programs. Notably, our football league teams, soccer school, and girls' wildcats programs have continued to thrive, attracting members from diverse boroughs in London. This expansion has been complemented by the successful execution of tournaments that garnered participation from numerous teams and children in the London area, providing valuable opportunities for youth to remain actively involved in football.
Furthermore, our commitment to providing access to sports and recreational activities has resulted in increased bookings at the local school where we operate. To further amplify our presence, we are exploring additional venues within the borough, aiming to create more opportunities for the community.
## **Financial Support and Grants:**
This fiscal year has been marked by strategic partnerships and financial support from key stakeholders. Notably, we have secured grants from the National Lottery and Tower Hamlets Council in collaboration with the East End Community Foundation. These grants have been instrumental in sustaining projects such as free community football sessions, girls' mini tournaments, and adult Yoga classes. The acquisition of external funding has become a cornerstone of our annual income, allowing us to maintain and expand our diverse range of free local initiatives.
## **Summer Holiday Programs:**
Our organization successfully executed a summer holiday program, "Hunger for Kids," throughout August 2022, attracting over 50 children and young people. This program, funded by Tower Hamlets Council, aimed to provide a holistic experience, inclusive of those on school free meals. In addition, a separate holiday initiative in collaboration with Tower Hamlets Council specifically targeted children and young people in the Isle of Dogs, addressing the increased challenges of crime in the area. This targeted project drew participation from over 30 individuals aged 11-16, contributing to its success.
In summary, our organization's commitment to community engagement, youth development, and providing access to sports and recreational activities has resulted in substantial growth and positive impacts. The strategic acquisition of grants has played a pivotal role in sustaining our initiatives, allowing us to serve a broader audience and make a lasting difference in the communities we engage with. We look forward to continuing our efforts and expanding our reach in the upcoming years.
4
## **LONDON YOUNG STARS ELITE**
(Charitable Incorporated Organisation)
## **TRUSTEES REPORT FOR YEAR ENDED 31 MARCH 2023**
## **Statement of trustees' responsibilities**
The Charities Act 2011 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 CIO and of the surplus of the CIO for that period. In preparing those financial statements the trustees are required to
- select suitable accounting policies and then apply them consistently;
- make judgments and estimates that are reasonable and prudent;
- Prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the CIO's transactions and disclose with reasonable accuracy at any time the financial position of the C.I.O and enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the C.I.O and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the trustees
............................................................................
Victor Salako Trustees
Approved by the trustees on: 11 January 2024
5
## **LONDON YOUNG STARS ELITE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**£**
**£**
**£**
**Incoming resources (Note 1)**
F01
F02
F03
**Income and endowments from:**
Donations and legacies
20,240
10,000
-
Charitable activities
38,926
- -
Other trading activities
- - -
Investments
-
-
Separate material item of income
- - -
Other
- - -
**_Total_**
**59,166**
**10,000**
**-**
**Resources expended (Note 2)**
**Expenditure on:**
Raising funds
-
-
-
Cost of Charitable activities
75,179
11,087
-
Governance Costs
300
-
-
Other
- - -
**_Total_**
**75,479**
**11,087**
**-**
**Net income/(expenditure)**
**before investment**
**gains/(losses)**
-
16,313
-
1,087
-
Net gains/(losses) on investments
- - -
**Net income/(expenditure)**
-
16,313
-
1,087
-
**Extraordinary items**
- - -
**Transfers between funds**
-
1,000
1,000
-
**Other recognised**
**gains/(losses):**
Gains and losses on revaluation of fixed
assets for the charity’s own use
- - -
Other gains/(losses)
- - -
**_Net movement in funds_**
**-**
**17,313**
**-**
**87**
**-**
**_Reconciliation of funds:_**
Total funds brought forward
34,931
425
-
**_Total funds carried forward_**
**17,618**
**338**
**-**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**£**
**£**
**£**
F01
F02
F03|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**£**
**£**
**£**
F01
F02
F03|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**£**
**£**
**£**
F01
F02
F03|**Total funds**
**31 March**
**2023**
**£**
F04|**Prior year**
**funds**
**31 March**
**2022**
**£**
F05|
|---|---|---|---|---|---|
||20,240
10,000
-|||30,240|22,213|
||38,926
- -|||38,926|45,607|
||- - -|||-|7|
||-
-|||-|-|
||- - -|||-|-|
||- - -|||
-|-|
||**59,166**
**10,000**
**-**|||
**69,166**|**67,827**|
|||||||
||-
-
-|||-|-|
||75,179
11,087
-|||86,266|69,072|
||300
-
-|||300|700|
||- - -|||
-|-|
||**75,479**
**11,087**
**-**|||
**86,566**|**69,772**|
|||||||
||-
16,313
-
1,087
-|||-
17,400|
-
1,945|
||- - -|||-|-|
||-
16,313
-
1,087
-|||-
17,400|-
1,945|
||- - -|||-|-|
||-
1,000
1,000
-|||-|-|
|||||||
||- - -|||-|-|
||- - -|||
-|-|
||**-**
**17,313**
**-**
**87**
**-**|||
**-**
**17,400**|**-**
**1,945**|
|||||||
|||||||
||34,931
425
-|||
35,356|37,301|
||**17,618**|**338**|**-**|
**17,956**|**35,356**|
6
## **LONDON YOUNG STARS ELITE STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2023**
|**Fixed assets**
**Intangible assets**
**Tangible assets**
**_Total fixed assets_**
**Current assets**
**Stocks**
**Debtors**
**Cash at bank and in hand (Note 9)**
**_Total current assets_**
**Creditors: amounts falling due**
**within one year (Note 8)**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**Creditors: amounts falling due**
**after one year (Note 8)**
**_Total net assets or liabilities_**
**Funds of the Charity**
**Restricted income funds (Note 10)**
**Unrestricted funds**
**Revaluation reserve**
**_Total funds_**
Signed by one or two trustees on behalf
of all the trustees|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**£**
**£**
**£**
F01
F02
F03|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**£**
**£**
**£**
F01
F02
F03|**Total**
**31 March**
**2023**
**Total last**
**year 31**
**March 2022**
**£**
**£**
F04
F05|**Total**
**31 March**
**2023**
**Total last**
**year 31**
**March 2022**
**£**
**£**
F04
F05|
|---|---|---|---|---|
||- - -||- -||
||- - -||- -||
||-
-
-||
-
-||
||||||
||- - -||- -||
||- - -||- -||
||17,918
338
-||
18,256
36,056||
||**17,918**
**338**
**-**||
**18,256**
**36,056**||
||||||
||300
- -||300
700||
||||||
||17,618
338
-||
17,956
35,356||
||||||
||**17,618**
**338**
**-**||
**17,956**
**35,356**||
||||||
||- - -||- -||
||||||
||**17,618**
**338**
**-**||
**17,956**
**35,356**||
||||||
||338||338
35,356||
||17,618
- -||17,618
-||
||||-||
||**17,618**
**338**
**-**||
**17,956**
**35,356**||
||||||
||Print||Name
Date of
approval
11/01/2024||
||**Victor **||**Salako**
**11/01/2024**||
||||||
7
## **LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
**Note 1 Analysis of income**
|**Charitable**
**activities:**
**Investement**
**Income**
**Donations and**
**legacies:**
**TOTAL INCOME**|Donations and gifts
Gift Aid
Legacies
General grants provided by
government/other charities
**Total **
**Analysis**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Total funds 31**
**March 2023**
**Prior year**
**31 March 2022**
**£**
**£**
20,240 10,000 30,240 22,213
- - - -
- - - -
- - - -
**20,240 10,000 30,240 22,213**
- - - -
22,211
22,211 22,658
13,754
13,754 3,756
2,961 - 2,961 19,193
**38,926 - 38,926 45,607**
- - - -
-
- 7
-
- -
**- - - 7**
**59,166 10,000 69,166 67,827**|
|---|---|---|
||||
||Registeration Fees
Tournament Fees
Soccer School
**Total **||
||||
||Interest
Dividend
**Total **||
8
**LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **Note 2 Analysis of expenditure**
**----- Start of picture text -----**
Unrestricted Restricted
funds income funds Total funds
Analysis £
Expenditure on Incurred seeking donations - - -
raising funds: Incurred seeking grants
Total expenditure on raising funds - - -
Expenditure on (1) The promotion and advancement of the amateur
charitable sport of association football for the public benefit,
activities achieved by facilitating or supporting the provision of
facilities aimed at enabling children and young people
to engage in association football. ("Facilities"
encompass land, buildings, equipment, and the
organization of sporting activities).
(2) The provision and support of facilities catering to
sports, recreation, and other leisure activities for
individuals requiring such amenities due to factors
such as youth, age, infirmity, disability, poverty, or
challenging social and economic circumstances. This
initiative is undertaken in the broader interest of social
welfare, with the overarching goal of enhancing their
quality of life. 75,179 11,087 86,266
Total expenditure on charitable activities
75,179 11,087 86,266
Governence Accountancy & Independent Examiner Fees 300 300
Costs
- - -
- - -
Total 300 - 300
Other
- - -
Total other expenditure - - -
TOTAL EXPENDITURE 75,479 11,087 86,566
**----- End of picture text -----**
9
**LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **Note 2.1 Analysis of expenditure on charitable activities**
**----- Start of picture text -----**
Head of Total this Total prior
Activities undertaken directly
Account year year
£ £ £
Advertisng & Promoting and raising awareness of our charitable activities and annual 2,685 1,165
Publicity YSE Champions Cup tournament.
Bank Essential fees for banking services, facilitating London Young Stars - 90
Fees/Charges Elite's financial operations.
Coaches Fees Supporting and compensating coaches for their dedication to player 10,772 13,646
& Expenses development and tournament preparation.
Equipment Procuring and maintaining necessary equipment for the effective conduct 3,191 4,239
Costs of association football activities.
Providing recreational and developmental activities for children and 900 3,564
Holiday Club young people during holiday periods.
Acquiring and maintaining sports uniforms and gear for participants in our 3,496 6,204
Kit Costs charitable sports programs.
Match Refree
Fees & Compensating referees and covering associated expenses for fair and 2,565 1,469
Expenses organized football matches.
Office Administrative costs related to managing the charitable activities and 3,545 937
Expenses organizing events.
Renting suitable facilities to facilitate the practice and execution of 3,496 7,023
Pitch Hire association football programs.
-
Players Investing in the development and skill enhancement of young football 1,050
Development players.
Registeration Covering fees for player registrations to participate in our association 1,200 2,092
Fees football programs.
Subcontracting We compensate contractors for their work as an essential component of 2,261 2,604
Costs our charitable activities, ensuring the effective execution of our mission.
Sundry Addressing miscellaneous costs associated with the smooth functioning
999 612
Expenses of the charity and events.
Telephone Covering communication costs essential for organizational coordination 314 429
Expenses and outreach.
Includes venue hire, referee payments, hotel accommodations, catering,
Tournament and travel expenses for the YSE Champions Cup, ensuring a 43,883 21,932
Costs comprehensive and well-organized sporting event.
Travel & Facilitating travel and accommodations for teams participating in the YSE 5,908 3,064
Subsistense Champions Cup and related events.
Total 86,266 69,070
**----- End of picture text -----**
10
**LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **Note 3 Basis of preparation**
_**This section should be completed by all charities** ._
## **3.1 Basis of accounting**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:
- the Statement of Recommended Practice: Accounting and Reporting by Charities
- • and with* 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 with* the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)
- and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.*
**Yes**
* -Tick as appropriate
## **3.2 Going concern**
_**If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:**_
|Where accounts are not prepared on a going
concern basis, please disclose this fact
together with the basis on which the trustees
prepared the accounts and the reason why
the charity is not regarded as a going
concern.
Disclosure of any uncertainties that make the
going concern assumption doubtful;
An explanation as to those factors that
support the conclusion that the charity is a
going concern;|**_Not applicable_**
**_The charity's continued financial stability, positive growth_**
**_trends, and strategic plans affirm its status as a going_**
**_concern._**
**_Not applicable_**|
|---|---|
## **3.3 Change of accounting policy**
The accounts present a true and fair view and the accounting policies adopted are those outlined in note { }.
|Yes*||||||
|---|---|---|---|---|---|
|||||* -Tick as appropriate||
|No*||||||
|**_Please disclose:_**||||||
|**_(i) the nature of the_**||**_change in accounting policy;_**|||Not applicable|
|**_(ii) the reasons why applying the new accounting policy_**||||||
|**_provides more reliable_**|||**_and more relevant information;_**||Not applicable|
|**_and_**||||||
11
# **LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
_**(iii) the amount of the adjustment for each line affected Not applicable in the current period, each prior period presented and the aggregate amount of the adjustment relating to periods before those presented, 3.44 FRS 102 SORP.**_
## **3.4 Changes to accounting estimates**
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
**----- Start of picture text -----**
Yes*
* -Tick as appropriate
No*
Please disclose:
(i) the nature of any changes; Not applicable
(ii) the effect of the change on income and expense or
Not applicable
assets and liabilities for the current period; and
(iii) where practicable, the effect of the change in one or Not applicable
more future periods.
**----- End of picture text -----**
## **1.5 Material prior year errors**
No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).
**----- Start of picture text -----**
Yes*
* -Tick as appropriate
No*
Please disclose:
(i) the nature of the prior period error; Not applicable
(ii) for each prior period presented in the accounts, the
amount of the correction for each account line item
affected; and
Not applicable
(iii) the amount of the correction at the beginning of the Not applicable
earliest prior period presented in the accounts.
**----- End of picture text -----**
12
**LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
**----- Start of picture text -----**
Note 4 Accounting policies
4.1 INCOME
**----- End of picture text -----**
|**Note 4**
**4.1 INCOME**|**Accounting policies**|
|---|---|
|**Recognition of income**|These are included in the Statement of Financial Activities (SoFA) when:|
|| the charity becomes entitled to the resources;|
||· it is more likely than not that the trustees will receive the resources; and|
|| the monetary value can be measured with sufficient reliability.|
||There has been no offsetting of assets and liabilities, or income and expenses, unless required|
|**Offsetting**|or permitted by the FRS 102 SORP or FRS 102.|
||Grants and donations are only included in the SoFA when the general income|
|**Grants and donations**|recognition criteria are met (5.10 to 5.12 FRS102 SORP).|
||In the case of performance related grants, income must only be recognised to the extent|
||that the charity has provided the specified goods or services as entitlement to the grant|
||only occurs when the performance related conditions are met (5.16 FRS 102 SORP).|
|**Legacies**|Legacies are included in the SOFA when receipt is probable, that is, when there has|
||been grant of probate, the executors have established that there are sufficient assets in|
||the estate and any conditions attached to the legacy are either within the control of the|
||charity or have been met.|
|**Government grants**|The charity has received government grants in the reporting period|
||Gift Aid receivable is included in income when there is a valid declaration from the|
|**Tax reclaims on**|donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift|
|**donations and gifts**|and is treated as an addition to the same fund as the initial donation unless the donor or|
||the terms of the appeal have specified otherwise.|
|**Contractual income and**|This is only included in the SoFA once the charity has provided the related goods or|
|**performance related**|services or met the performance related conditions.|
|**grants**||
|**Donated goods**|Donated goods are measured at fair value (the amount for which the asset could be
exchanged) unless impractical to do so.|
||The cost of any stock of goods donated for distribution to beneficiaries is deemed to be|
||the fair value of those gifts at the time of their receipt and they are recognised on|
||receipt. In the reporting period in which the stocks are distributed, they are recognised|
||as an expense at the carrying amount of the stocks at distribution.|
||Donated goods for resale are measured at fair value on initial recognition, which is the|
||expected proceeds from sale less the expected costs of sale, and recognised in 'Income|
||from other trading activities' with the corresponding stock recognised in the balance|
||sheet. On its sale the value of stock is charged against 'Income from other trading|
||activities' and the proceeds from sale are also recognised as 'Income from other trading|
||activities'.|
||Goods donated for on-going use by the charity are recognised as tangible fixed assets|
||and included in the SoFA as incoming resources when receivable.|
||Gifts in kind for use by the charity are included in the SoFA as income from donations|
||when receivable.|
|**Donated services and**|Donated services and facilities are included in the SOFA when received at the value of|
|**facilities**|the gift to the charity provided the value of the gift can be measured reliably.|
||Donated services and facilities that are consumed immediately are recognised as|
||income with an equivalent amount recognised as an expense under the appropriate|
||heading in the SOFA.|
|**Support costs**|The charity has incurred expenditure on support costs.|
13
**LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
The value of any voluntary help received is not included in the accounts but is described **Volunteer help** in the trustees’ annual report. **Income from interest,** This is included in the accounts when receipt is probable and the amount receivable can **royalties and dividends** be measured reliably. **Income from membership** Membership subscriptions received in the nature of a gift are recognised in Donations **subscriptions** and Legacies. Insurance claims are only included in the SoFA when the general income recognition **Settlement of insurance** criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other **claims** income in the SoFA. **Investment gains and** This includes any realised or unrealised gains or losses on the sale of investments and **losses** any gain or loss resulting from revaluing investments to market value at the end of the year.
|**4.2 EXPENDITURE**|**AND LIABILITIES**|
|---|---|
|**Liability recognition**|Liabilities are recognised where it is more likely than not that there is a legal or|
||constructive obligation committing the charity to pay out resources and the amount of|
||the obligation can be measured with reasonable certainty.|
|**Governance and support**
**costs**|Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.|
||Support costs include central functions and have been allocated to activity cost|
||categories on a basis consistent with the use of resources, eg allocating property costs|
||by floor areas, or per capita, staff costs by the time spent and other costs by their usage.|
|**Grants with performance**
**conditions**|Where the charity gives a grant with conditions for its payment being a specific level of
service or output to be provided, such grants are only recognised in the SoFA once the
recipient of the grant has provided the specified service or output.|
|**Grants payable without**
**performance conditions**|Where there are no conditions attaching to the grant that enables the donor charity to
realistically avoid the commitment, a liability for the full funding obligation must be
recognised.|
|**Redundancy cost**|The charity made no redundancy payments during the reporting period.|
|**Deferred income**|No material item of deferred income has been included in the accounts.|
|**Creditors**|The charity has creditors which are measured at settlement amounts less any trade
discounts|
||A liability is measured on recognition at its historical cost and then subsequently|
|**Provisions for liabilities**|measured at the best estimate of the amount required to settle the obligation at the|
||reporting date|
|**Basic financial**
**instruments**|The charity accounts for basic financial instruments on initial recognition as per
paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17
to 11.19, FRS102 SORP.|
## **4.3 ASSETS**
**Tangible fixed assets for** These are capitalised if they can be used for more than one year, and cost at least **use by charity**
They are valued at cost.
The depreciation rates and methods used are disclosed in note 9.2.
14
**LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
**Intangible fixed assets** The charity has intangible fixed assets, that is, non-monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 9.5
They are valued at cost.
**Investments** Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments
**Stocks and work in** Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net **progress** realisable value.
Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.
Debtors (including trade debtors and loans receivable) are measured on initial recognition at **Debtors** settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
The charity has has investments which it holds for resale or pending their sale and cash and **Current asset** cash equivalents with a maturity date less than one year. These include cash on deposit and **investments** cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall due.
15
## **LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **Note 5 Details of certain items of expenditure**
## **5.1 Fees for examination of the accounts**
_**Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).**_
**Independent examiner’s fees Assurance services other than audit or independent examination Tax advisory fees**
||**This year**||**Last year**|
|---|---|---|---|
||**£**||**£**|
|||||
||300.00||700.00|
|||||
|||-|-|
|||||
|||-|-|
## **Note 6 Paid employees**
## **6.1 Staff Costs**
|**Salaries and wages**
**Social security costs**
**Pension costs (defined contribution scheme)**
**Other employee benefits**
**Total staff costs**|**This year**
**Last year**
**£**
**£**
- -
- -
- -
- -|
|---|---|
||**- -**|
16
**LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **Note 7 Debtors and prepayments**
|**7.1 Analysis of debtors**
**Trade debtors**
**Prepayments and accrued income**
**Other debtors**|**This year**
**Last year**
**£**
**£**
- -
- -
- -|
|---|---|
||**-**-|
## **Total**
## **7.2 Analysis of debtors recoverable in more than 1 year (included in debtors above)**
|**Note 8 Creditors and accruals**
**Trade debtors**
**Prepayments and accrued income**
**Other debtors**
**Total**|**This year**
**Last year**
**£**
**£**
- -
- -
- -|
|---|---|
||**- -**
|
|||
## **8.1 Analysis of creditors**
|**8.1 Analysis of creditors**||
|---|---|
|
**Accruals for grants payable**
**Bank loans and overdrafts**
**Trade creditors**
**Payments received on account for contracts or**
**performance-related grants**
**Accruals and deferred income**
**Taxation and social security**
**Other creditors**
**Total**|**This year**
**Last year**
**This year**
**Last year**
**£**
**£**
**£**
**£**
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
300
700
- -
**Amounts falling due**
**Amounts falling due after**|
||**300**
**700**
**- -**|
|**Note 9 Cash at bank and in hand**
**Total**
**Short term cash investments (less than 3 months maturity date)**
**Short term deposits**
**Cash at bank and on hand**|**This year**
**Last year**
**£**
**£**
- -
- -
18,256
36,056|
|---|---|
||**18,256**
**36,056**|
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## **LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **Note 10 Charity funds**
## **10.1 Details of material funds held and movements during the CURRENT reporting period**
_**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.**_
## _*** Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
**----- Start of picture text -----**
Fund Fund
balances balances
Type PE, EE Purpose and Restrictions brought Gains and carried
R or UR *
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
Restricted funds encompass resources within the
charity dedicated for a specific and designated
Donations & Gifts purpose.The Ristricted funds represents the funds
of the charity which are designated for the particular
R purpose 425 10,000 - 11,087 1,000 - 338
(1) The promotion and advancement of the amateur
sport of association football for the public benefit,
achieved by facilitating or supporting the provision of
facilities aimed at enabling children and young
people to engage in association football. ("Facilities"
encompass land, buildings, equipment, and the
Charitable organization of sporting activities).
Activities/Projects & 34,931 59,166 - 75,479 - 1,000 - 17,618
Governenace Costs (2) The provision and support of facilities catering to
sports, recreation, and other leisure activities for
individuals requiring such amenities due to factors
such as youth, age, infirmity, disability, poverty, or
challenging social and economic circumstances.
This initiative is undertaken in the broader interest of
social welfare, with the overarching goal of
enhancing their quality of life.
UR
Total Funds 35,356 69,166 - 86,566 - - 17,956
**----- End of picture text -----**
18
## **LONDON YOUNG STARS ELITE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **Note 11 Charity funds**
## **11.1 Details of material funds held and movements during the PREVIOUS reporting period**
_**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.**_
## _*** Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
**----- Start of picture text -----**
Fund Fund
balances balances
Type PE, EE
Purpose and Restrictions brought Gains and carried
R or UR *
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
Restricted funds encompass resources within
the charity dedicated for a specific and
Donations & Gifts designated purpose.The Ristricted funds
represents the funds of the charity which are
R designated for the particular purpose 16,184 7,200 - 23,039 80 - 425
(1) The promotion and advancement of the
amateur sport of association football for the
public benefit, achieved by facilitating or
supporting the provision of facilities aimed at
enabling children and young people to engage
in association football. ("Facilities" encompass
land, buildings, equipment, and the
organization of sporting activities).
Charitable
(2) The provision and support of facilities 21,117 60,627 - 46,733 - 80 - 34,931
Activities/Projects
catering to sports, recreation, and other leisure
activities for individuals requiring such
amenities due to factors such as youth, age,
infirmity, disability, poverty, or challenging
social and economic circumstances. This
initiative is undertaken in the broader interest
of social welfare, with the overarching goal of
enhancing their quality of life.
R
Total Funds 37,301 67,827 - 69,772 - - 35,356
**----- End of picture text -----**
19
(Charitable Incorporated Organisation)
## **LONDON YOUNG STARS ELITE**
## **Independent examiner's report on the accounts**
## _**Section A Independent Examiner’s Report**_
> **Report to the trustees LONDON YOUNG STARS ELITE**
> **On accounts for the year 31st MARCH 2023 Charity no 1185139 ended (if any) Set out on pages** I report to the trustees on my examination of the accounts of the above charity (“LONDON YOUNG STARS ELITE”) for the year ended **31 / 03 / 2023. 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. I report in respect of my examination of the Charity’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** I have completed my examination. I confirm that no material matters have **statement** come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or the accounts did 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.
Zeeshan Munawar ACCA AMZES ACCOUNTANT Amzes Ltd Unit 14 East shopping Centre 232-236 Green Street London London E7 8LE
11 January 2024
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