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2022-07-31-accounts

Trustees’ Annual Report for the period

From 1st August 2021 Period start date To 31st July 2022 Period end date

Charity name:Ability sports and social (North East)

Charity registration number:1188381

Objectives and Activities

SORP reference

Summary of the purposes of Para 1.17 To help adults with learning difficulties the charity as set out in its governing document Summary of the main Para 1.17 and To provide sports coaching and activities 1.19 activities in relation to those to adults with learning difficulties purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. Statement confirming Para 1.18 The trusties have had regard to the whether the trustees have guidance issued by the charity had regard to the guidance commission on public benefit issued by the Charity Commission on public benefit

Additional information (optional)

You may choose to include further statements where relevant about: SORP reference

Para 1.38

Policy on grant making

Para 1.38

Policy on social investment

including program related investment

Para 1.38

Contribution made by volunteers

Other

Achievements and Performance

SORP reference

Our main achievements have been helping adults with learning difficulties get fit make friends and help with there mental well being

Summary of the main achievements of the charity, identifying the difference the Para 1.20 charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against objectives set Para 1.41

Performance of fundraising activities against objectives set Para 1.41

Investment performance against objectives Para 1.41

Other

Financial Review

Financial Review
Review of the charity’s Para 1.21 In credit at the bank
financial position at the end
of the period
Statement explaining the Para 1.22 none
policy for holding reserves
stating why they are held
Amount of reserves held Para 1.22 none
Reasons for holding zero Para 1.22 Lack of funds
reserves
Details of fund materially in Para 1.24 n/a
deficit
Explanation of any Para 1.23 n/a
uncertainties about the
charity continuing as a going
concern

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising) Para 1.47

Investment policy and objectives including any social investment policy Para 1.46 adopted A description of the principal risks facing the charity Para 1.46

Other

Structure, Governance and Management

Description of charity’s To provide coaching and training for trusts: vulnerable adults Type of governing document Para 1.25 Trust (trust deed, royal charter) How is the charity Para 1.25 CIO constituted? (e.g unincorporated association, CIO) Trustee selection methods Para 1.25 Ask for volunteers including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees Para 1.51

The charity’s organisational structure and any wider network with which the Para 1.51 charity works

Relationship with any related parties

Para 1.51

Other

Reference and Administrative details

Charity name Ability Sports and Social (North East) Other name the charity uses Registered charity number 1188381 Charity’s principal address 22 -24 Beech Drive Dunston NE11 ( PD

Names of the charity trustees who manage the charity Names of the charity trustees who manage the charity Names of the charity trustees who manage the charity
Trustee name Office (if any) Dates acted if not for
whole year		 Name of person (or
body) entitled to
appoint trustee (if any)
1 Irene Storey
Michael Donnelly
James Tate
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

Corporate trustees – names of the directors at the date the report was approved Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets N/A held in this capacity

Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects

Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Additional information (optional) Additional information (optional)

Names and addresses of advisers (Optional information)
Type of adviser Name Address
Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

Declarations Declarations Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s)
Full name(s) Brian Wood
Position (eg Secretary, Chair,
etc)		 Chair
Date 24/07/23

Registered number: 12146820

ABILITY SPORTING CLUB (NORTH EAST) LIMITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

Ability Sporting Club (North East) Limited Directors' Report and Financial Statements For The Year Ended 31 July 2022

Contents

Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Income and Expenditure Account 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
The following pages do not form part of the statutory accounts:
Detailed Income and Expenditure Account 10—11

Ability Sporting Club (North East) Limited Company Information For The Year Ended 31 July 2022

Directors Mr Leslie Dixon
Mr James Tate
Mr Brian Wood
Mr John Kirsop
Company Number 12146820
Registered Office 22-24 Beech Drive
Dunston
Gateshead
Tyne & Wear
NE11 9PD
Accountants KP Simpson Ltd
Certified Public Accountants
172-174 Albert Road
Jarrow
NE32 5JA

Page 1

Ability Sporting Club (North East) Limited Company No. 12146820 Directors' Report For The Year Ended 31 July 2022

The directors present their report and the financial statements for the year ended 31 July 2022.

Directors

The directors who held office during the year were as follows:

Mr Leslie Dixon

Mr James Tate

Mr Brian Wood

Mr John Kirsop

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

On behalf of the board

Mr Brian Wood

Director

05/04/2023

Page 2

Ability Sporting Club (North East) Limited Accountant's Report For The Year Ended 31 July 2022

In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.

You have acknowledged on the balance sheet as at year ended 31 July 2022 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

Signed

05/04/2023

KP Simpson Ltd Certified Public Accountants 172-174 Albert Road Jarrow NE32 5JA

Page 3

Ability Sporting Club (North East) Limited Income and Expenditure Account For The Year Ended 31 July 2022

Notes
TURNOVER
Cost of sales
GROSS SURPLUS
Administrative expenses
OPERATING (DEFICIT)/SURPLUS
Interest payable and similar charges
(DEFICIT)/SURPLUS BEFORE TAXATION
Tax on (Deficit)/surplus
(DEFICIT)/SURPLUS AFTER TAXATION BEING
(DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR		 2022
£
5,515
(2,448)
3,067
(6,044)
(2,977)
(135)
(3,112)
159
(2,953)		 2021
£
23,563
(4,016)
19,547
(13,116)
6,431
-
6,431
(637)
5,794

The notes on pages 7 to 9 form part of these financial statements.

Page 4

Ability Sporting Club (North East) Limited Balance Sheet As at 31 July 2022

Notes
FIXED ASSETS
Tangible Assets
4
CURRENT ASSETS
Debtors
5
Cash at bank and in hand
Creditors: Amounts Falling Due Within
One Year
6
NET CURRENT ASSETS (LIABILITIES)
TOTAL ASSETS LESS CURRENT
LIABILITIES
Creditors: Amounts Falling Due After
More Than One Year
7
PROVISIONS FOR LIABILITIES
Deferred Taxation
NET ASSETS
Income and Expenditure Account
MEMBERS' FUNDS		 2022
£
£
2,512
2,512
15,281
510
15,791
(4,627)
11,164
13,676
(11,238)
(477)
1,961
1,961
1,961		 2022
£
£
2,512
2,512
15,281
510
15,791
(4,627)
11,164
13,676
(11,238)
(477)
1,961
1,961
1,961		 2021
£
£
3,350
3,350
16,797
4,655
21,452
(4,251)
17,201
20,551
(15,000)
(637)
4,914
4,914
4,914		 2021
£
£
3,350
3,350
16,797
4,655
21,452
(4,251)
17,201
20,551
(15,000)
(637)
4,914
4,914
4,914
2,512
11,164		 3,350
17,201
15,791
(4,627)		 21,452
(4,251)
13,676 20,551
(11,238) (15,000)
(477) (637)
1,961 4,914
1,961 4,914
1,961 4,914

Page 5

Ability Sporting Club (North East) Limited Balance Sheet (continued) As at 31 July 2022

For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

On behalf of the board

Mr Brian Wood

Director

05/04/2023

The notes on pages 7 to 9 form part of these financial statements.

Page 6

Ability Sporting Club (North East) Limited Notes to the Financial Statements For The Year Ended 31 July 2022

1. General Information

Ability Sporting Club (North East) Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 12146820. The registered office is 22-24 Beech Drive, Dunston, Gateshead, Tyne & Wear, NE11 9PD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

25% RB

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 4 (2021: )

Page 7

Ability Sporting Club (North East) Limited Notes to the Financial Statements (continued) For The Year Ended 31 July 2022

4. Tangible Assets

Cost
As at 1 August 2021
As at 31 July 2022
Depreciation
As at 1 August 2021
Provided during the period
As at 31 July 2022
Net Book Value
As at 31 July 2022
As at 1 August 2021
5.
Debtors
Due within one year
Directors' loan accounts
6.
Creditors: Amounts Falling Due Within One Year
Trade creditors
Bank loans and overdrafts
Other creditors
Accruals and deferred income
Directors' loan accounts
7.
Creditors: Amounts Falling Due After More Than One Year
Bank loans		 2022
£
15,281
15,281
2022
£
-
1,875
-
420
2,332
4,627
2022
£
11,238
11,238		 Computer
Equipment
£
5,000
5,000
1,650
838
2,488
2,512
3,350
2021
£
16,797
16,797
2021
£
(1)
-
1,432
420
2,400
4,251
2021
£
15,000
15,000
  1. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

The above loan is unsecured, interest free and repayable on demand.

Page 8

Ability Sporting Club (North East) Limited Notes to the Financial Statements (continued) For The Year Ended 31 July 2022

9. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

Page 9

Ability Sporting Club (North East) Limited Detailed Income and Expenditure Account For The Year Ended 31 July 2022

TURNOVER
Sales
Other trading income
COST OF SALES
Purchases
Food parcels
Sports Kits
Other direct costs
GROSS SURPLUS
Administrative Expenses
Wages and salaries
Staff entertaining
Rent
Use of private residence
Vehicle running costs
Vehicle parking costs
Repairs, renewals and maintenance
Insurance
Website costs
Accountancy fees
Legal fees
Royalties and licence fees payable
Bank charges
Charitable donations
Depreciation of computer equipment
Entertaining
Sundry expenses
OPERATING (DEFICIT)/SURPLUS
Interest payable and similar charges
Bank loan interest
(DEFICIT)/SURPLUS BEFORE TAXATION		 2022
£
£
4,672
843
5,515
408
725
450
865
(2,448)
3,067
780
1,121
720
1,248
200
-
-
-
14
498
-
-
84
125
838
40
376
(6,044)
(2,977)
135
(135)
(3,112)		 2022
£
£
4,672
843
5,515
408
725
450
865
(2,448)
3,067
780
1,121
720
1,248
200
-
-
-
14
498
-
-
84
125
838
40
376
(6,044)
(2,977)
135
(135)
(3,112)		 2021
£
£
21,591
1,972
23,563
169
2,428
1,119
300
(4,016)
19,547
2,391
1,370
1,248
-
946
6
98
85
36
420
13
40
-
4,016
1,650
798
(1)
(13,116)
6,431
-
-
6,431
...CONTINUED
5,515
(2,448)
780
1,121
720
1,248
200
-
-
-
14
498
-
-
84
125
838
40
376		 2,391
1,370
1,248
-
946
6
98
85
36
420
13
40
-
4,016
1,650
798
(1)
3,067
(6,044)
135 -
(2,977)
(135)
(3,112)

Page 10

Ability Sporting Club (North East) Limited Detailed Income and Expenditure Account (continued) For The Year Ended 31 July 2022

Tax on (Deficit)/surplus
Deferred taxation
(DEFICIT)/SURPLUS AFTER TAXATION BEING
(DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR		 (159) 159 637 (637)
(2,953) 5,794

Page 11

Registered number: 12146820

ABILITY SPORTING CLUB (NORTH EAST) LIMITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

Ability Sporting Club (North East) Limited Directors' Report and Financial Statements For The Year Ended 31 July 2022

Contents

Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Income and Expenditure Account 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
The following pages do not form part of the statutory accounts:
Detailed Income and Expenditure Account 10—11

Ability Sporting Club (North East) Limited Company Information For The Year Ended 31 July 2022

Directors Mr Leslie Dixon
Mr James Tate
Mr Brian Wood
Mr John Kirsop
Company Number 12146820
Registered Office 22-24 Beech Drive
Dunston
Gateshead
Tyne & Wear
NE11 9PD
Accountants KP Simpson Ltd
Certified Public Accountants
172-174 Albert Road
Jarrow
NE32 5JA

Page 1

Ability Sporting Club (North East) Limited Company No. 12146820 Directors' Report For The Year Ended 31 July 2022

The directors present their report and the financial statements for the year ended 31 July 2022.

Directors

The directors who held office during the year were as follows:

Mr Leslie Dixon

Mr James Tate

Mr Brian Wood

Mr John Kirsop

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

On behalf of the board

Mr Brian Wood

Director

05/04/2023

Page 2

Ability Sporting Club (North East) Limited Accountant's Report For The Year Ended 31 July 2022

In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.

You have acknowledged on the balance sheet as at year ended 31 July 2022 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

Signed

05/04/2023

KP Simpson Ltd Certified Public Accountants 172-174 Albert Road Jarrow NE32 5JA

Page 3

Ability Sporting Club (North East) Limited Income and Expenditure Account For The Year Ended 31 July 2022

Notes
TURNOVER
Cost of sales
GROSS SURPLUS
Administrative expenses
OPERATING (DEFICIT)/SURPLUS
Interest payable and similar charges
(DEFICIT)/SURPLUS BEFORE TAXATION
Tax on (Deficit)/surplus
(DEFICIT)/SURPLUS AFTER TAXATION BEING
(DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR		 2022
£
5,515
(2,448)
3,067
(6,044)
(2,977)
(135)
(3,112)
159
(2,953)		 2021
£
23,563
(4,016)
19,547
(13,116)
6,431
-
6,431
(637)
5,794

The notes on pages 7 to 9 form part of these financial statements.

Page 4

Ability Sporting Club (North East) Limited Balance Sheet As at 31 July 2022

Notes
FIXED ASSETS
Tangible Assets
4
CURRENT ASSETS
Debtors
5
Cash at bank and in hand
Creditors: Amounts Falling Due Within
One Year
6
NET CURRENT ASSETS (LIABILITIES)
TOTAL ASSETS LESS CURRENT
LIABILITIES
Creditors: Amounts Falling Due After
More Than One Year
7
PROVISIONS FOR LIABILITIES
Deferred Taxation
NET ASSETS
Income and Expenditure Account
MEMBERS' FUNDS		 2022
£
£
2,512
2,512
15,281
510
15,791
(4,627)
11,164
13,676
(11,238)
(477)
1,961
1,961
1,961		 2022
£
£
2,512
2,512
15,281
510
15,791
(4,627)
11,164
13,676
(11,238)
(477)
1,961
1,961
1,961		 2021
£
£
3,350
3,350
16,797
4,655
21,452
(4,251)
17,201
20,551
(15,000)
(637)
4,914
4,914
4,914		 2021
£
£
3,350
3,350
16,797
4,655
21,452
(4,251)
17,201
20,551
(15,000)
(637)
4,914
4,914
4,914
2,512
11,164		 3,350
17,201
15,791
(4,627)		 21,452
(4,251)
13,676 20,551
(11,238) (15,000)
(477) (637)
1,961 4,914
1,961 4,914
1,961 4,914

Page 5

Ability Sporting Club (North East) Limited Balance Sheet (continued) As at 31 July 2022

For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

On behalf of the board

Mr Brian Wood

Director

05/04/2023

The notes on pages 7 to 9 form part of these financial statements.

Page 6

Ability Sporting Club (North East) Limited Notes to the Financial Statements For The Year Ended 31 July 2022

1. General Information

Ability Sporting Club (North East) Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 12146820. The registered office is 22-24 Beech Drive, Dunston, Gateshead, Tyne & Wear, NE11 9PD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

25% RB

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 4 (2021: )

Page 7

Ability Sporting Club (North East) Limited Notes to the Financial Statements (continued) For The Year Ended 31 July 2022

4. Tangible Assets

Cost
As at 1 August 2021
As at 31 July 2022
Depreciation
As at 1 August 2021
Provided during the period
As at 31 July 2022
Net Book Value
As at 31 July 2022
As at 1 August 2021
5.
Debtors
Due within one year
Directors' loan accounts
6.
Creditors: Amounts Falling Due Within One Year
Trade creditors
Bank loans and overdrafts
Other creditors
Accruals and deferred income
Directors' loan accounts
7.
Creditors: Amounts Falling Due After More Than One Year
Bank loans		 2022
£
15,281
15,281
2022
£
-
1,875
-
420
2,332
4,627
2022
£
11,238
11,238		 Computer
Equipment
£
5,000
5,000
1,650
838
2,488
2,512
3,350
2021
£
16,797
16,797
2021
£
(1)
-
1,432
420
2,400
4,251
2021
£
15,000
15,000
  1. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

The above loan is unsecured, interest free and repayable on demand.

Page 8

Ability Sporting Club (North East) Limited Notes to the Financial Statements (continued) For The Year Ended 31 July 2022

9. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

Page 9

Ability Sporting Club (North East) Limited Detailed Income and Expenditure Account For The Year Ended 31 July 2022

TURNOVER
Sales
Other trading income
COST OF SALES
Purchases
Food parcels
Sports Kits
Other direct costs
GROSS SURPLUS
Administrative Expenses
Wages and salaries
Staff entertaining
Rent
Use of private residence
Vehicle running costs
Vehicle parking costs
Repairs, renewals and maintenance
Insurance
Website costs
Accountancy fees
Legal fees
Royalties and licence fees payable
Bank charges
Charitable donations
Depreciation of computer equipment
Entertaining
Sundry expenses
OPERATING (DEFICIT)/SURPLUS
Interest payable and similar charges
Bank loan interest
(DEFICIT)/SURPLUS BEFORE TAXATION		 2022
£
£
4,672
843
5,515
408
725
450
865
(2,448)
3,067
780
1,121
720
1,248
200
-
-
-
14
498
-
-
84
125
838
40
376
(6,044)
(2,977)
135
(135)
(3,112)		 2022
£
£
4,672
843
5,515
408
725
450
865
(2,448)
3,067
780
1,121
720
1,248
200
-
-
-
14
498
-
-
84
125
838
40
376
(6,044)
(2,977)
135
(135)
(3,112)		 2021
£
£
21,591
1,972
23,563
169
2,428
1,119
300
(4,016)
19,547
2,391
1,370
1,248
-
946
6
98
85
36
420
13
40
-
4,016
1,650
798
(1)
(13,116)
6,431
-
-
6,431
...CONTINUED
5,515
(2,448)
780
1,121
720
1,248
200
-
-
-
14
498
-
-
84
125
838
40
376		 2,391
1,370
1,248
-
946
6
98
85
36
420
13
40
-
4,016
1,650
798
(1)
3,067
(6,044)
135 -
(2,977)
(135)
(3,112)

Page 10

Ability Sporting Club (North East) Limited Detailed Income and Expenditure Account (continued) For The Year Ended 31 July 2022

Tax on (Deficit)/surplus
Deferred taxation
(DEFICIT)/SURPLUS AFTER TAXATION BEING
(DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR		 (159) 159 637 (637)
(2,953) 5,794

Page 11