Charlty rg91stration number 1191664 {England and Wal•$) Company registration number 12645692 LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE LEGALAND ADMINISTRATIVE INFORMATION Tru$to Mr P Bland Mr Stephen Cleeve Mr Paul Farrow Mr Peter Hancock Mr Mark H8arte Mr C Manning Charlty numbèr (England and Wal951 1191664 Company number 12645692 Reglsttsred offic• 23 London Road Downharn Market Norfolk England PE38 gBJ Independent examiner Mapus-smith & Lemmon LLP 23 London Road Downham Market Norfolk PE38 98J
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE CONTENTS Page TNstees' report Indepèndènt èxaminèls rèwrt statement of financial actNities 8alance sheet Notes to the financial Statements 6- 11
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2024 The trustees present thoSr annual port and financlal stemenl$ for the year ended 30 Juntr 2024. The financial stslernents have been prepared in accordance with the accounting policies set out in note I to the financial slal8rnents and comply with the Irusfs goveming document, the Companles Act 2006 and'Accounling and Reporting by Charities.. Statement ol Recommended Practice applicablé to charitios preparing their accounts in accordance with the Financial Reporting Standard applie8ble in the UK and Republic of Ireland IFRS 1021. (effect6 1 January 20191. Objectlves and actlvltles The trust h8s been set up lo raise funds for local causes and enhance ihe football facilits'es available tor the local Community. The purpose of the ch8rity arè as follows.. Advancè eduGation'. Promote oommunity participation in heahhy recreation by providing or assisting in Providing facilities for playing football and other sports I'lacilities. means land, buildings, equipment and organising sporttng activities),. Provide or assist in providing facilities for sport, recreation or other leisure time occupation of such pergons who have nèed for such activib85 by r8ason ol their youth, age, infirrnity or disablement, poverty or swial and economic circumstances or for the public at large èn the interests of social welfare and with the object of improving their condltions of lrfe- and Prtsmote all purposes recogni5ed as charitable under the laws of England and Wales from time to time in particular but without limitation through an association with football. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding whal activities th8 trust should undertake. Aehlèv•m•nts and p•rformane• Significant activities and achiovgments againsl objocfrves During the period under review. the charity made erKouraging progress towafds fulfilliThJ its charitable objectSves, despite being in the early stages of its developmenl. We are pleased to report that the charity successfully secur grant funding from a number ot grant providers. These grants have played a pivtstal ro in enabling US to take our initial steps toward delivering on our misslon. The funding recelved allow9d for thg &mploymgnl of k&y Staff m&mtrs who have bean in$lrurn&ntal in the planning and implementation of our cor8 programs. In particular, Ihg charity has focused on engaging local schools through the delivgry gf structured progrdrn3 aimed al prornoting physical actiwly, teamwork. and wellbeing among young pgoplg. As a result of these efforts. the charity has built strong partnerships within the eduehts.on seetor and hès laid a solid foundation for future seNice delivery. The earfy achievemgnts reprgsent meaningful progr9$5 8nd pwvidg a strong platform from which to expand our reach and deep&n our impact in the years to come. Thè trust84s arè (xjmmitted to maintsining momentum and ensuring that all actIvrtS continue to align dosely with the ¢h8rlty's objectives. while remaining focused on delivering measurable outcomes for the communities we serve. nancial review Reserves policy It Is the policy of the Irvst that unrestrS¢ted funds which have not been designated lor a specrfic use should be maintained at a level equivalent lo between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding. Ihey will be able to continue the trusts current activities while consideration is given to ways in which additional funds may be raised. Thls level of reservès has been maintained throughoLrt the year.
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Stru¢tur¢ governan and managem•nt The trust Is a company limited by guarantee governed by its Memorandum and Arb¢les of As50ciatN)n dated 4 June 2020. The trustees, who are also the directors for the purtyjse of company law, and who seved during the year and up to Ihe date of signaturè of the finanrial statements were.. Mr P Bland Mr Stephen Cle Mr P8uI F8rrow Mr Peter Han¢ock Mr Mark Hearle Mr C Manning Recruitm8nl and appointm&nt of tThsÈ8es Subject to Article 24, any person who is willing lo act as a Tfustee, and who would not bè disqualifiè(J from acting under the provisions of Article 26, may be appointed to bo a Trustèe by thè Mamèbèr (acting through an authorised representative) serwng notice in writing on the Charity. Nonè (rf the trustees has any beneffcial interest in th& Company. 1 of the Iru31ees are members of the company and guarantee lo contribute £1 in the event of a wnding UP. The company's currènt policy concgming the payment of trade creditors is to follow thè CBI'S Prompt Payers Code (copies are availabl& from the CBI. Centre Point, 103 New Oxford Street. London WC1A IDUI. The company's eurrenl policy concerning the payment of trade eraditors is to.. settle thè t&rrn5 of payrnent with suppliers when agreeing the terrns of e8ch transaction., ènsure that suppliers are made aware ol the terms of payrnenl by inclusion or the relevant terms in contracts,. and pay in accordance with the companls w)trathal and other legal obligation3. OrganisatiOll81 struGture The board of Trustsas musl consist ofal leasl three independent Trustses. The trustees, r8port was approved by the Board of Trustees. Stsphen Gts4 Mr Stephen Cleeve Trustse Dale".
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LINNETS IN THE COMMUNITY I r8POrt to the trustees on my examination of the financial stslements of Linnets In The Community (the trust) for the yèar ended 30 June 2024. Re$ponslbllltles and bas1$ of report As the Iruslees of the trust land also its dir8¢tors for th8 purpos8s of company lawl, you are responsible for th preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied mysglf that the financial statements of the tnjst are not required to be audited und8r Part 16 of the Compani9s Act 2006 and are eligilAe for independent examination. I report in respgct of my examination of the Irusl's financial statemonls carried out under section 145 of the Charities Act 2011. In Carrying out my gxamination I have followed the Directions gwen by the Charity Commission under section 14515)Ibl of the Charities Act 2011. Ind&pendent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in ¢onne¢lion with the exarnination giving m8 ¢8use lo believe that in any material resped.. accounting records werè not kept in respect of the trust as required by section 386 of the CompaniesAct 2006. the financial statements do not a¢¢ord wlth those records., or the financlal stslements do not comply with the accounting requirements of section 396 of the Companie5 Act 2006 other than any qUirement that the financial statements give a true and fair view, whlch is not a matter consid8red as part of an independent examination. or the finanaal statements have not bean prepared in accordance with the methods and principles of the Stalemenl of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their financial statements in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021. I have no concer should be rawn have come across no other matters in connection with the examination to which attention his report in order lo enable a prop8r understsnding of the financial statements to be reached. Cralg Symonds. F.C.C.A Mapus4mith & L•mm¢n LLP 23 London Road Downham Market Norfolk PE38 98J Date..
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrestrl¢ted funds 2024 UnrestrSct•d funds 2023 Notes Ineomtr from.. Donalions and lèg3eSès 49.298 30.714 Total Income 49,298 30,714 ExpendSture on.. Charitable activrties 41,064 20,466 Total 8XndItra 41,064 20,466 Net Income and movèm•nt In fund$ 8.234 10.248 R•eonelliatiOfs of fvnds: Fund balances at 1 July 2023 18.235 5.987 Fund balane•s at 30 June 2024 24.469 16.235 Thè stat8m8nl of financial actwities includes all gains and loss8s recognisad in the year. All incorne and expenditure derfve from continuing activities.
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE BALANCE SHEET ASAT 30 JUNE 2024 2024 2023 Notes Current asséts Debtors Cash at bank and in hand 10 573 30,820 20,977 31,393 20,977 CredStors: amounts falllng due wlthln one yèar 11 {6,9241 14,7421 Nat current assots 24.469 16,235 The funds of the trust Unresth'cted furKIs 13 24,469 16,235 24.469 16.235 The company Is entilled to the exemption from the audit qUIrernenI contained in section 477 of the Companies Act 2006, for tha yo8r ended 30 June 2024. The directors acknowledge their responsibilities for cornplying with the requirements of the CompAnl8s Act 2006 th respect to accounting racords and the preparation of financ¢al statements. The members have not required the company to obtsin an audr( of Its financlal statements for the year in question in accwdanco wth section 476. These financial statements have bggn prepared in a¢oJrdance with the provisions applicable to companies subject lo the small companies regime. The finanaal stat8mènts were approved by tho trustaos on......................... St6pA8n Gk&v Mr Stephen Cleeve Trustee Company registration nurnber 12645692 (England and Walosl
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accountlng pollcl•$ Charlty Informatlon Linnets In The Comrnunity is a private company limited by guarantee incorporated in England 8nd Wales. The règistewl office is 23 London Road, Downham Market. Norfolk, PE38 9BJ. England. 1.1 Accountlng convèntlon The financial statements have prepared in accordance wlh the trust's goveming document. thè Companies Act 2006, FRS 102 'Thts FinancAal Reporb'ng Standard applicable in the UK and Republic of Ireland. and th6 Charities SORP 'Accounting and Reporting by Charits"6s." Statèmènt of Rècommended Practicè applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 8ppli¢able in the UK and Republic of Ireland IFRS 1021" The trust is a Pvi4ic Benefit Entity as defined by FRS 102. The trust has taken advantag8 of Ihè provisions in the SORP for charities not to prepare a statement of cash flows. Thè fin8iicial Statements are ppared in sterfing, whiith is th8 fun¢tion81 currency of the trust. Monetary amounts in these financial statements are munded to the nearest £. The financial statern•nts have b8en prepared under the historKal cosl convention. Thè principal accounting poliaes adoptèd are set out below. 1.2 Going eoncem At the time of approving th8 finanrial statements. the trustees have a reasonable expactation that thè trtJ51 has adequatè reUrCeS to coritinue in operational existence for the foreseeable future. Thus the tru51ees continuè to adopt the going concern basis of accounting in praparing the financial stst8ments. 1.3 Charltabl• fund3 Unrestricted fijnds ar8 8V8llable for use at the discretion of the trustees in fijrtherance of their charitablè objectives. Restricted funds are Subect to specific conditi'ons by donors or grantors as to how they may be used. The purposes and uses of the re51ri¢tsd lunds are sel out in the notes to the financial statements. Endowment funds are subleet to sp¢¢ifi¢ rKIllIonS by donors that the Ca'tal must be maintained by the trust. 1.4 Income Incorne is recognised when the tDJst Is lagally entitled lo il after any performance conditions have been met, the amounts be measured reliably, and It Is probable that income will be reived. Cash donations are recognised on receSpt. Other donations are re¢x)gnised once the trust ha5 been nots'fied of the donatson. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donalions receivèd undèr GiftAkl tsr dogds of covenant is recognised at the time of the donation. Legacies are fecognised on receipt or othenvise if the trust has been notified of an impending distribution. the amount is known. and receipt is gxpo¢ted. If tre amount is not known, the legacy is treated as a contingent asset.
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Ac¢ountlng pollclos Icontlnuodl 1.S Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, il is probable that a transfer of economic 08nèfits wlll be requlred In settlemènt. and the amount of the obligation can be measured rèliably. Expenditure 18 classified by activty. The costs ol each actiV4ty are made up of the total of direct costs and shared costs, including support costs involved in undertaklng each activlty. Direct costs attributab to a slngl& activity are allocated directly to that activity. Shared ctssts which Contribute tts more than one activity and support costs which are not attributable to a sln9le activity are apportioned btslween trose activities on a basis consistent with th ijse of resources. C8ntral stsff costs are allocated on the basis of tim8 spent, and depreciation chargtrs are 8lloc8ted on the portion of the asset's use. 1.6 Cash and cash èquivaltnts Cash and cash equivalents include cash in hand, deFK)slts hakl at eall wlth banks. other short48m Ilqukl investments with original maturth'es of threè months or less, 8rKI bank overdr8ft5. B8nk ov8rdT8fts ore shown within borrowings In ¢urrenl liabililitss. 1.7 Flnanclal Instruments Th6 trust ha5 elected lo apply the Provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Finanoal Instruments Issues, of FRS 102 to all of its finanaal instruments. Financial instnjments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, th thè nèt amounts prèsènted In thè flnancial statemènts. whèn there is a legally enforceablè right to sat off tha r8cognis8d amounts and th¢r& is an intention to sèttl8 on 8 nel basis or lo reallse the asset and setue Ihe liabilty simultaneously. Basic financial ass•ts Basic financial assets, which include debtors and cash and bank balances, are initially measured at Iran5artion price induding transaction costs and are subsequently carried at amortised cost using the effeckn've interest method unless the arrangement conslitutes a finanang transaction, where the iransaction is measured at the present value ol the future receipts discounted at a market fate of interest. Financial assets classified as re1vable within one year are not amortised. Basie financil li*bilitigS Basic financial liabilities. includin9 creditors and bank loans ar6 Inltially recogni$8d at transaction pnce unlèss the arrangement constitutes a fin8n¢ing Iran$8¢tion, where the debt instrument is measured at the present valua of th8 future payments discounted al 8 market rate of interest. Financial liabiliti85 classified as payab thin on9 year are not amorb'sed. Debt instruments are subsequenuy carried at amortised cost. using ihe effecuve interest rate method. Trade creditors are ObligatnS lo pay for goods or sèNices that have been acquired in the ordlnary cours8 01 operations from suppliers. Amounts payable are classifiod as currènt liabiliti8s il payment is due within on• year or less. If not, they are presented as non-current liabilities. Trade ¢reditors are recognis¢d initially at transaction pru and subswugnlly mgasured at aM.e<l wsl using the effective inlerpst m9thod. Derecognltlon of flnanclal Ilabllltles Fillanci81 liabilities are dereco9nised when the trust's contractual obligations expire or are discharged OT can¢glled.
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Aecountlng pollel•• (Continued) 1.8 Employ•• benef The cost of any unusèd holiday entitlement is recognised in the perTod in which the employee's seryices are reeelvèd. Termination benerrts are recognised immediately as an expense when the trust Is demonstrably commlttèd to terminate (he empk)ymant ol an employ8a or to provide termination benefits. 1.9 Rotiromont b¥nefits Payments to defined contribution r?raent benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of tha trust's accounting policias, thè Irust8ès are rèquired to make judgements, estimates and assumptk)ns about Ihè carrying amount of assets and It8bilities that are not readily apparent from other sourcas. Thé 8stimates and associated 8ssuinplions ar8 based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revislons to a¢counting eslimales are recognised in the period in which the estimate is revised wher8 the rèvision affects only that period. or in the period of the revision and luturè pedods wherè th8 vision affects both ¢urrenl and future periods. In¢tsm• from donations and legacles Unr•strleted funds 2024 Unrostrieted funds 2023 Donatlons and gifts Grants 12.331 36.967 4.559 26,755 49.298 30.714
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Expendlture on ¢harEtablo aetlvltl8$ Charltable tlvltles 2024 Charitsble actlvltles 2023 Dlrect costs staff costs Hire ol personnel Other charitablé expenses 31,420 18,532 6,621 670 38,041 19,203 Share ol support and governance costs (see note 5) Govemance 3.023 1,263 41.064 20,466 Analysls by fund Unrestricted funds 41,064 20.466 support costs all4xated to actrvities 2024 2023 Govemance c£Jsts 3.023 1,263 Analys•d bètwgen: Charitsble activities 3.023 1.263 Not movemont In fvnds 2024 2023 The net movement in funds is stated after chargIn{credItingl'. Fees payable for the independent 9x8min8tH)n of the charity's financial statements Trustees Nona of th8 trustees lor any persons (£Jnn8ctod with them) recalvad any ramunèration or benefits fiorn the trust during the year.
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Employoes The average monthly numbar of employges durfng the year was.. 2024 Numb•r 2023 Numbèr Employm•nt ¢o$ts 2024 2023 W8ge5 and salaries Social security costs Other pension costs 31,087 17,518 514 500 333 31,420 18,532 There were no empbyees whose annual remuneration was more than £60.000. Taxatlon Thè charity Is axompl from taxation on ils activities because all its income is applied for charitable purposes. 10 Debtor8 2024 2023 Amounts lalllng due wlthln ong yeaT: Other deblors 573 11 Creditors: am¢)unts falling due wlthln one year 2024 2023 Other tsxation and social security Tradè cradit¢rs Other creditors Accrua18 and deferred income 1,171 1,361 2,592 1,800 1,473 2.006 1.263 6,924 4.742 12 R•tlr•m•nt bon•flt $¢hemg$ 2024 2023 Defined contrfbutlon sch•m•s Chmrge to profrt or lo¥s in respect of defined contn'bulion schemes 333 500 10-
LINNETS IN THE COMMUNITY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 30 JUNE 2024 12 Retirement benefit schemes IContlnu8dl The trust operates a defined contnbution panslon schemg for all qualrfying employees. The assets of tr scheme are held saparatèly from thos8 (rf lh8 trust in an independently 8dmini5tgrgd fund. 13 Unr¥trl¢ted funds The unrestricted lunds of the charity comprise the unexpended balances of donations and grants which are not subject Its specific conditions by donors and grantors as lo how they may be used. These indude dgsignateil funds which have been sel aside out of unrestn'cted funds by the trustees for specific purposes. At 1 July 2023 Ineomlng resourt•s R8soure•s expend•d At 30 Jun• 2024 G•n8ral funds 16.235 49,298 {41,0641 24.469 PTeviouJ year: At 1 July 2022 Incoming resources Resources expended At 30 June 2023 General funds 5.987 30,714 120,4661 16.235 14 Ralatsd paity transactions Tran$a¢tlon$ wlth relatsd partles During th yèar the trust entgred into the ft>llowirrfJ transactions with related partie8.' Purchase of good$ 2024 2023 Other related partles 2,235 11