REGISTERED CHARITY NUMBER: 1187581
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
FOR
THE FYLDE RUGBY COMMUNITY FOUNDATION
Brown & Co Chartered Accountants 5A Marsh Mill Village Fleetwood Road North Thornton-Cleveleys Lancashire FY5 4JZ
THE FYLDE RUGBY COMMUNITY FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
| Page | |
|---|---|
| Report of the Trustees | 1 - 2 |
| **Independent Examiner’s Report ** | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 – 9 |
| Detailed Statement of Financial Activities | 10 |
THE FYLDE RUGBY COMMUNITY FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
The trustees present their report with the financial statements of the charity for the year ended 31[st] July 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The promotion of community participation in health recreation for the benefit of the inhabitants of the Fylde Coast of Lancashire and surrounding areas by the provision of facilities for playing rugby union.
The advancement of the amateur sport of rugby union, for the public benefit by the provision of, or assistance in the provision of, facilities for participation in the sport of rugby.
Removing any barriers to participating in rugby union such as finance, facilities, coaching, age, gender or health.
During the period 1[st] August 2023 – 31[st] July 2024 the foundation provided a total of 252 hours of free delivery, totalling £8,820. This was distributed amongst schools, organisations and partner clubs
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Fylde Rugby Community Foundation was incorporated as a Charitable Incorporated Organisation (CIO) on 27 January 2020. The charity is controlled by its governing document.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1187581
Principal address Fylde Rugby Club Blackpool Road St Annes Lytham St Annes FY8 4EL
Trustees
Sir W B Beaumont CBE DL Mr D J Craven Mr A J Attard OBE Mrs V Thompson Mr D C Wiseman Mr D J Young Mr M T Long
FINANCIAL REVIEW
Reserves policy
Going forward the trustees will endeavour to maintain reserves of £80,000, which equates to approximately 3 months of running costs. The minimum cash reserve will be reviewed annually in line with the financial performance of the Foundation following each financial year, in order to ensure any risks are appropriately managed. However, the Foundation has the aspiration to generate a minimum cash reserve equivalent to 6 months of running costs.
The notes form part of these financial statements
1
THE FYLDE RUGBY COMMUNITY FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
GOING CONCERN
The trustees consider that the charity has sufficient forecast income and available resources to cover the ongoing activities of the charity for the foreseeable future.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the 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, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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 irregularities.
Approved by order of the board of trustees on 18[th] October 2024 and signed on its behalf by:
David Craven
Mr D J Craven - Trustee
The notes form part of these financial statements
2
THE FYLDE RUGBY COMMUNITY FOUNDATION
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
I report on the accounts for the year ended 31[st] July 2024, which are set out on pages four to ten.
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 have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
That accounting records were not kept as required by section 130 of the Act; or
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That the accounts do not accord with those records; or
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That the accounts do not comply with the accounting requirements of the Act; or
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That there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Chris Brown BFP, FCA, ATT
Brown & Co 5A Marsh Mill Village Fleetwood Road North Thornton-Cleveleys Lancashire FY5 4JZ
Date: 18[th] October 2024
The notes form part of these financial statements
3
THE FYLDE RUGBY COMMUNITY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME RESOURCES | |||||
| Incoming resources from generating funds | |||||
| Voluntary income | 2 | 12,990 | 147,296 | 160,286 | 84,583 |
| Activities for generating funds | 3 | 35,350 | 107,055 | 142,405 | 114,606 |
| Incoming resources from charitable | |||||
| activities | |||||
| Schools income | - | 42,260 | 42,260 | 41,382 | |
| Camps income | - | 17,236 | 17,236 | 20,477 | |
| Other income | |||||
| Interest received | 184 | - | 184 | 170 | |
| ______ | ______ | ______ | ______ | ||
| Total incoming resources | 48,524 | 313,847 | 362,371 | 261,218 | |
| ______ | ______ | ______ | ______ | ||
| RESOURCES EXPENDED | |||||
| Costs of generating funds | |||||
| Costs of generating voluntary income | 4 | 1,210 | 7,825 | 9,035 | 6,959 |
| Other resources expended | 39,812 | 283,895 | 323,707 | 231,123 | |
| ______ | ______ | ______ | ______ | ||
| Total resources expended | 41,022 | 291,720 | 332,742 | 238,082 | |
| ______ | ______ | ______ | ______ | ||
| NET INCOMING RESOURCES | 7,502 | 22,127 | 29,629 | 23,136 | |
| ______ | ______ | ______ | ______ | ||
| TOTAL FUNDS BROUGHT FORWARD | 16,733 | 81,248 | 97,981 | 74,846 | |
| Transfer between funds | - | - | - | - | |
| ______ | ______ | ______ | ______ | ||
| TOTAL FUNDS CARRIED FORWARD | 24,235 | 103,375 | 127,610 | 97,981 | |
| ______ | ______ | ______ | ______ |
The notes form part of these financial statements
4
THE FYLDE RUGBY COMMUNITY FOUNDATION
BALANCE SHEET AS AT 31 JULY 2024
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Notes | |||
| FIXED ASSETS | |||
| Tangible assets | 7 | 15,326 | 873 |
| CURRENT ASSETS | |||
| Debtors | 8 | 15,383 | 18,971 |
| Cash at bank and in hand | 129,649 | 110,348 | |
| ______ | ______ | ||
| 145,032 | 129,318 | ||
| CREDITORS | |||
| Amounts falling due within one year | 9 | (32,748) | (32,210) |
| ______ | ______ | ||
| NET CURRENT ASSETS | 112,284 | 97,108 | |
| ______ | ______ | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 127,610 | 97,981 | |
| ______ | ______ | ||
| NET ASSETS | 127,610 | 97,981 | |
| ______ | ______ | ||
| FUNDS | |||
| Unrestricted funds | 10 | 24,235 | 16,733 |
| Restricted funds | 103,375 | 81,248 | |
| ______ | ______ | ||
| TOTAL FUNDS | 127,610 ______ |
97,981 ______ |
The financial statements were approved by the Board of Trustees on 18[th] October 2024 and were signed on its behalf by:
David Craven
Mr D J Craven - Trustee
The notes form part of these financial statements
5
THE FYLDE RUGBY COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and equipment
- 20% reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
The notes form part of these financial statements
6
THE FYLDE RUGBY COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 JULY 2024
| 2024 | 2023 | ||
|---|---|---|---|
| 2. | VOLUNTARY INCOME | ||
| £ | £ | ||
| Donations | 12,990 | 10,175 | |
| Grants | 147,296 | 74,408 | |
| ______ | ______ | ||
| 160,286 | 84,583 | ||
| ______ | ______ | ||
| Grants received, included in the above, are as follows: | |||
| Fylde Borough Council | 17,685 | 11,169 | |
| RRC Weeton | 8,410 | - | |
| National Lottery – Youth Club | 21,032 | - | |
| Active Lancashire – Together Fund | - | 4,250 | |
| National Lottery – Wheelchair rugby | - | 23,000 | |
| Grant UK | 17,750 | - | |
| Barchester’s Foundation – Wheelchair rugby equipment | - | 600 | |
| Streetwise Youth Community Centre | - | 3,100 | |
| Souter Trust – Wheelchair rugby | 3,000 | - | |
| Wooden Spoon | - | 2,260 | |
| Wyre Council | 3,714 | 1,629 | |
| Postcode lottery | 15,000 | - | |
| National Lottery – Girls Rugby | - | 1,000 | |
| First Trenitalia West Coast Rail Ltd | 11,205 | - | |
| Albert Gubay | 20,000 | - | |
| UK Youth | - | 10,000 | |
| Assura Grant – Cheshire Community | - | 1,000 | |
| ESC Lottery Fund | - | 6,750 | |
| Charities Trust | 5,000 | - | |
| Garfield Weston | 15,000 | - | |
| The Shepherd Street Trust | 2,000 | - | |
| Grantscape | 5,000 | - | |
| The Gosling Foundation | 2,500 | - | |
| Other | - | 9,650 | |
| ______ | ______ | ||
| 147,296 | 74,408 | ||
| ______ | ______ | ||
| 3. | ACTIVITIES FOR GENERATING FUNDS | ||
| £ | £ | ||
| Sponsorships | 142,405 | 114,606 | |
| ______ | ______ | ||
| 4. | COSTS OF GENERATING VOLUNTARY INCOME | ||
| £ | £ | ||
| Support costs | 9,035 | 6,959 | |
| ______ | ______ |
The notes form part of these financial statements
7
THE FYLDE RUGBY COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 JULY 2024
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees remuneration or other benefits for the year ended 31[st] July 2024
Trustees expenses
There were no trustees’ expenses paid for the year ended 31[st] July 2024.
| 6. STAFF COSTS Wages and salaries The average monthly number of employees during the period was as follows: No employees received emoluments in excess of £60,000 7. TANGIBLE FIXED ASSETS Cost Balance brought forward Additions Balance carried forward Depreciation Balance brought forward Charge for the year Balance carried forward Net book value As at 31 July 2024 As at 31stJuly 2023 |
£ £ 0 4,190 __ _ 0 3 Fixtures & equipment £ 1,702 18,285 19,987 829 3,832 4,661 15,326 ___ 873 |
|---|---|
The notes form part of these financial statements
8
THE FYLDE RUGBY COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 JULY 2024
8. DEBTORS: AMOUNT DUE WITHIN ONE YEAR
| . | : UN U WN | £ | £ | ||
|---|---|---|---|---|---|
| Trade debtors | 13,855 | 6,580 | |||
| Prepayments | 1,528 | 1,410 | |||
| VAT | - | 1,331 | |||
| Accrued income | - | 9,650 | |||
| ______ | ______ | ||||
| 15,383 | 18,971 | ||||
| ______ | ______ | ||||
| 9. | CREDITORS: AMOUNTS DUE WITHIN ONE YEAR | ||||
| £ | £ | ||||
| Trade Creditors | 32,290 | 18,210 | |||
| Deferred income | - | 14,000 | |||
| VAT | 458 | - | |||
| ______ | ______ | ||||
| 32,748 | 32,210 | ||||
| ______ | ______ | ||||
| 10. | MOVEMENT IN FUNDS | At 1 July 2023 | Net | At 31 July 2024 | |
| movement | |||||
| in funds | |||||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General funds | 16,733 | 7,502 | 24,235 | ||
| Restricted funds | 81,248 | 22,127 | 103,375 | ||
| ______ | ______ | ______ | |||
| Total funds | 97,981 | 29,629 | 127,610 | ||
| ______ | ______ | ______ | |||
| Net movement in funds, included in the above are: | |||||
| Incoming | Resources expended | Transfer | Movement | ||
| resources | between | in funds | |||
| funds | |||||
| Unrestricted funds | |||||
| General funds | 48,524 | (41,022) | - | 7,502 | |
| Restricted funds | 313,847 | (291,720) | - | 22,127 | |
| ______ | ______ | ______ | ______ | ||
| Total funds | 362,371 | (332,742) | - | 29,629 | |
| ______ | ______ | ______ | ______ |
9. CREDITORS: AMOUNTS DUE WITHIN ONE YEAR
The notes form part of these financial statements
9
THE FYLDE RUGBY COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 JULY 2024
| Year Ended | Year Ended | |
|---|---|---|
| 31 July 2024 | 31st July 2023 | |
| INCOMING RESOURSES | £ | £ |
| Voluntary income | ||
| Donations | 12,990 | 10,175 |
| Grants | 147,296 | 74,408 |
| ______ | ______ | |
| 160,286 | 84,583 | |
| Activities for generating funds | ||
| Sponsorships | 142,405 | 114,606 |
| Incoming resources from charitable activities | ||
| Training courses | 59,496 | 61,859 |
| Other income | ||
| Interest received | 184 |
170 |
| ______ | ______ | |
| Total incoming resources | 362,371 | 261,218 |
| RESOURCES EXPENDED | ||
| Other resources expended | ||
| Coaches | 10,194 | 4,190 |
| Rent | 12,120 | 10,462 |
| General Expenses | 5,969 | 6,848 |
| Bid fees & costs | 36,873 | 27,494 |
| Engage – Project Coordinator Cost | 42,958 | 30,339 |
| Engage – Staffing | 195,496 | 133,490 |
| Depreciation charge | 3,832 | 216 |
| Training | 783 | 838 |
| Interest Paid | 59 | - |
| Educational resources | 4,048 | 2.977 |
| Irrecoverable VAT | 11,375 | 14,269 |
| ______ | ______ | |
| 323,707 | 231,123 | |
| Support costs | ||
| Insurance | 1,457 | 1,271 |
| Advertising | 1,368 | 1,978 |
| Accountancy fees | 2,939 | 1,808 |
| Travel costs | 268 | 360 |
| Bank charges | 416 | 480 |
| Sundries | 187 | 722 |
| Legal | 2,400 | 340 |
| ______ | ______ | |
| 9,035 | 6,959 | |
| ______ | ______ | |
| Total resources expended | 332,742 | 238,082 |
| ______ | ______ | |
| Net income | 29,629 | 23,136 |
The notes form part of these financial statements
10