REGISTERED COMPANY NUMBER: (England and Wales) REGISTERED CHARITY NUMBER: 1188162
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
FOR
THE BRAKES COMMUNITY FOUNDATION CIO
Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT
THE BRAKES COMMUNITY FOUNDATION CIO
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 30 June 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
THE BRAKES COMMUNITY FOUNDATION CIO
REPORT OF THE TRUSTEES for the year ended 30 June 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Brakes Community Foundation is a charity set up to support the local community in partnership with Leamington Football Club. Alongside the support for the local community, the charity also aims to support a lot of other positive charitable activities and causes using the connections they have in the football world.
The charity aims to helps the local community by:
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Providing grants
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Providing finance
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Providing use of buildings/facilities
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Provision of a number of services
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Provision of advise and support
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In the year to 30 June 2023, Brakes Community Foundation benefited the community in the following ways:
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Education and training
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The advancement of health or saving of lives
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Assist with those suffering from forms of disability
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Provision and support of amateur sport
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Provision of recreational activities
FINANCIAL REVIEW
Reserves policy
It is the aim of The Brakes Community Foundation to have 6 months worth of operating costs in its current account at any given time, which equates to approximately £10,000, although there is no formal policy on this.
The Brakes Community Foundation relies primarily on donations or grants from individuals, organisations and businesses in the local community.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, and constitutes a charitable incorporated organisation.
Recruitment and appointment of new trustees
Trustees are currently appointed in line with the rules et out by the charity. Trustees are currently drawn from Leamington Football Club or from experienced candidates in the local environment.
Organisational structure
The Brakes Community Foundation currently has 5 trustees. J Eales is the chair of the trustees. The other trustees all assist with the day to day running of the charity. The finances for the charity are dealt with by O Spencer.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
(England and Wales)
Registered Charity number
1188162
Page 1
THE BRAKES COMMUNITY FOUNDATION CIO
REPORT OF THE TRUSTEES for the year ended 30 June 2023
Registered office
Your Co-Op Communiuty Stadium Harbury Lane Leamington Spa Warwickshire CV33 9QB
Trustees
J Eales R W Davies O Spencer M Illum P C O'Rafferty (resigned 6.9.2022) Mrs D Johnston-Smith Trustee (appointed 1.11.2022)
Independent Examiner
Stuart Grosvenor Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT
Approved by order of the board of trustees on 12 April 2024 and signed on its behalf by:
J Eales - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRAKES COMMUNITY FOUNDATION CIO
Independent examiner's report to the trustees of The Brakes Community Foundation CIO ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 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.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Stuart Grosvenor
Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT
12 April 2024
Page 3
THE BRAKES COMMUNITY FOUNDATION CIO
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 June 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 79,255 Other trading activities 2 73,186 Investment income 3 26 Total 152,467 EXPENDITURE ON Charitable activities Grants 142,011 NET INCOME/(EXPENDITURE) 10,456 RECONCILIATION OF FUNDS Total funds brought forward 7,997 TOTAL FUNDS CARRIED FORWARD 18,453 |
2022 Total funds £ 50,780 15,083 2 65,865 70,264 (4,399) 12,396 7,997 |
|---|---|
The notes form part of these financial statements
Page 4
THE BRAKES COMMUNITY FOUNDATION CIO
BALANCE SHEET 30 June 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 645 CURRENT ASSETS Debtors 8 5,903 Cash at bank 15,831 21,734 CREDITORS Amounts falling due within one year 9 (3,926) NET CURRENT ASSETS 17,808 TOTAL ASSETS LESS CURRENT LIABILITIES 18,453 NET ASSETS 18,453 FUNDS 10 Unrestricted funds 18,453 TOTAL FUNDS 18,453 |
2022 Total funds £ - 184 23,244 23,428 (15,431) 7,997 7,997 7,997 7,997 7,997 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 12 April 2024 and were signed on its behalf by:
J Eales - Trustee
The notes form part of these financial statements
Page 5
THE BRAKES COMMUNITY FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.
Computer equipment - 25% on cost
Taxation
The charity is exempt from corporation 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.
2. OTHER TRADING ACTIVITIES
| Holiday camp School income Coaching income Project activities |
2023 £ 20,386 39,169 9,568 4,063 73,186 |
2022 £ 5,734 9,349 - - |
|---|---|---|
| 15,083 |
Page 6
continued...
THE BRAKES COMMUNITY FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 June 2023
3. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Deposit account interest | 26 | 2 | |
| NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation - owned assets | 215 | - |
4. NET INCOME/(EXPENDITURE)
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 50,780 |
| Other trading activities | 15,083 |
| Investment income | 2 |
| Total | 65,865 |
| EXPENDITURE ON | |
| Charitable activities | |
| Grants | 70,264 |
| NET INCOME/(EXPENDITURE) | (4,399) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 12,396 |
| TOTAL FUNDS CARRIED FORWARD | 7,997 |
continued...
Page 7
THE BRAKES COMMUNITY FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 June 2023
7. TANGIBLE FIXED ASSETS
| COST Additions DEPRECIATION Charge for year NET BOOK VALUE At 30 June 2023 At 30 June 2022 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Accruals and deferred income 10. MOVEMENT IN FUNDS At 1.7.22 £ Unrestricted funds General fund 7,997 TOTAL FUNDS 7,997 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 152,467 TOTAL FUNDS 152,467 |
Computer equipment £ 860 215 645 - 2023 2022 £ £ 5,903 - - 184 5,903 184 2023 2022 £ £ 2,960 9,511 6 - 960 5,920 3,926 15,431 Net movement At in funds 30.6.23 £ £ 10,456 18,453 10,456 18,453 Resources Movement expended in funds £ £ (142,011) 10,456 (142,011) 10,456 |
|---|---|
continued...
Page 8
THE BRAKES COMMUNITY FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 June 2023
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.7.21 | in funds | 30.6.22 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 12,396 |
(4,399) | 7,997 |
| TOTAL FUNDS 12,396 |
(4,399) | 7,997 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 65,865 |
(70,264) | (4,399) |
| TOTAL FUNDS 65,865 |
(70,264) | (4,399) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.7.21 | in funds | 30.6.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 12,396 | 6,057 | 18,453 |
| TOTAL FUNDS | 12,396 | 6,057 | 18,453 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 218,332 218,332 |
Resources Movement expended in funds £ £ (212,275) 6,057 (212,275) 6,057 |
Resources Movement expended in funds £ £ (212,275) 6,057 (212,275) 6,057 |
|---|---|---|---|
| 6,057 |
continued...
Page 9
THE BRAKES COMMUNITY FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 June 2023
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2023.
Page 10
THE BRAKES COMMUNITY FOUNDATION CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 June 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Other trading activities Holiday camp School income Coaching income Project activities Investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Co-ordinator fees Coaching fees Equipment hire Facility hire Marketing Event fees Training Travel Trophies Sponsorship Catering Kit Project activity Support costs Management Insurance Sundries Grant fees Computer software Accountancy |
2023 £ 12,123 67,132 79,255 20,386 39,169 9,568 4,063 73,186 26 152,467 29,033 77,257 1,215 19,125 211 602 770 - 672 - 6,092 924 536 136,437 1,435 16 180 746 960 3,337 |
2022 £ 4,275 46,505 |
|---|---|---|
| 50,780 5,734 9,349 - - |
||
| 15,083 2 |
||
| 65,865 11,460 36,291 2,299 7,609 1,411 1,250 78 1,000 857 1,000 - - - |
||
| 63,255 1,270 298 3,704 304 960 |
||
| 6,536 |
This page does not form part of the statutory financial statements
Page 11
THE BRAKES COMMUNITY FOUNDATION CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 30 June 2023
| Management Finance Bank charges Computer equipment Total resources expended Net income/(expenditure) |
2023 £ 2,022 215 2,237 142,011 10,456 |
2022 £ 473 - 473 70,264 (4,399) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 12