REGISTERED COMPANY NUMBER: 08295033 (England and Wales) REGISTERED CHARITY NUMBER: 1194897
Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 June 2023
for
Prenton RUFC Limited
Cheryl Bostock & Company Accountants Limited 395-397 Woodchurch Road
Prenton Birkenhead Merseyside
Prenton RUFC Limited
Contents of the Financial Statements for the Year Ended 30 June 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 | to | 11 |
Prenton RUFC Limited
for the Year Ended 30 June 2023
Report of the Trustees
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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Related parties
The charity wholly owns its trading subsidiary, Prenton RUFC Enterprises Ltd. All surplus profits generated are donated to the parent charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08295033 (England and Wales)
Registered Charity number
1194897
Registered office
Prenton Dell Road Prenton CH43 3BS
Trustees
P Foster A G Sargent M Cavanagh G Knapman
Company Secretary
Independent Examiner
Cheryl Bostock & Company Accountants Limited 395-397 Woodchurch Road Prenton Birkenhead Merseyside
COMMENCEMENT OF ACTIVITIES
The company, Prenton RUFC Limited, applied and was granted charity status on 22nd June 2021.
Approved by order of the board of trustees on 20 March 2024 and signed on its behalf by:
P Foster - Trustee
Page 1
Independent Examiner's Report to the Trustees of Prenton RUFC Limited
Independent examiner's report to the trustees of Prenton RUFC Limited ('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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
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
-
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.
Cheryl Bostock
Cheryl Bostock & Company Accountants Limited 395-397 Woodchurch Road Prenton Birkenhead Merseyside
21 March 2024
Page 2
Prenton RUFC Limited
Statement of Financial Activities for the Year Ended 30 June 2023
| Year Ended 30.6.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 77,985 Other trading activities 2 41,549 Total 119,534 EXPENDITURE ON Raising funds 3 7,787 Charitable activities Rugby participation 97,544 Other 18,217 Total 123,548 NET INCOME/(EXPENDITURE) (4,014) RECONCILIATION OF FUNDS Total funds brought forward 314,451 TOTAL FUNDS CARRIED FORWARD 310,437 |
Period 1.5.21 to 30.6.22 Total funds £ 61,253 46,628 |
|---|---|
| 107,881 | |
| 12,686 17,507 45,249 |
|
| 75,442 | |
| 32,439 282,012 |
|
| 314,451 |
The notes form part of these financial statements
Page 3
Prenton RUFC Limited
Balance Sheet 30 June 2023
| 30.6.23 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 214,172 CURRENT ASSETS Cash at bank and in hand 97,015 CREDITORS Amounts falling due within one year 8 (750) NET CURRENT ASSETS 96,265 TOTAL ASSETS LESS CURRENT LIABILITIES 310,437 NET ASSETS 310,437 FUNDS 9 Unrestricted funds 310,437 TOTAL FUNDS 310,437 |
30.6.22 Total funds £ 212,916 102,285 (750) 101,535 314,451 314,451 314,451 314,451 |
|---|---|
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
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(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 20 March 2024 and were signed on its behalf by:
A G Sargent - Trustee
The notes form part of these financial statements
Page 4
Prenton RUFC Limited
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.
Plant and machinery - 10% on reducing balance Computer equipment - 20% on reducing balance
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.
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.
Page 5
continued...
Prenton RUFC Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| Period | |||
| 1.5.21 | |||
| Year Ended | to | ||
| 30.6.23 | 30.6.22 | ||
| £ | £ | ||
| Fundraising events | 20,787 | 15,094 | |
| Bar income and club hire | 14,710 | 25,537 | |
| Sponsorships | 6,052 | 5,997 | |
| 41,549 | 46,628 | ||
| 3. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| Period | |||
| 1.5.21 | |||
| Year Ended | to | ||
| 30.6.23 | 30.6.22 | ||
| £ | £ | ||
| Support costs | 7,298 | - | |
| 4. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| Period | |||
| 1.5.21 | |||
| Year Ended | to | ||
| 30.6.23 | 30.6.22 | ||
| £ | £ | ||
| Depreciation - owned assets | 4,248 | 3,927 | |
| Other operating leases | 9,690 | 23,780 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the period ended 30 June 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the period ended 30 June 2022.
Page 6
continued...
Prenton RUFC Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Total EXPENDITURE ON Raising funds Charitable activities Rugby participation Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. TANGIBLE FIXED ASSETS Improvements Freehold to property property £ £ COST At 1 July 2022 133,502 40,500 Additions - 5,504 At 30 June 2023 133,502 46,004 DEPRECIATION At 1 July 2022 - - Charge for year - - At 30 June 2023 - - NET BOOK VALUE At 30 June 2023 133,502 46,004 At 30 June 2022 133,502 40,500 |
Plant and machinery £ 43,556 - 43,556 8,212 3,534 11,746 31,810 35,344 |
Unrestricted fund £ 61,253 46,628 107,881 12,686 17,507 45,249 75,442 32,439 282,012 314,451 Computer equipment Totals £ £ 3,570 221,128 - 5,504 3,570 226,632 - 8,212 714 4,248 714 12,460 2,856 214,172 3,570 212,916 |
|---|---|---|
Page 7
continued...
Prenton RUFC Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accrued expenses 9. MOVEMENT IN FUNDS At 1.7.22 £ Unrestricted funds General fund 314,451 TOTAL FUNDS 314,451 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 119,534 TOTAL FUNDS 119,534 Comparatives for movement in funds At 1.5.21 £ Unrestricted funds General fund 282,012 TOTAL FUNDS 282,012 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 107,881 TOTAL FUNDS 107,881 |
30.6.23 30.6.22 £ £ 750 750 Net movement At in funds 30.6.23 £ £ (4,014) 310,437 (4,014) 310,437 Resources Movement expended in funds £ £ (123,548) (4,014) (123,548) (4,014) Net movement At in funds 30.6.22 £ £ 32,439 314,451 32,439 314,451 Resources Movement expended in funds £ £ (75,442) 32,439 (75,442) 32,439 |
|---|---|
Page 8
continued...
Prenton RUFC Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2023.
Page 9
Prenton RUFC Limited
Detailed Statement of Financial Activities for the Year Ended 30 June 2023
| Detailed Statement of Financial Activities for the Year Ended 30 June 2023 |
||
|---|---|---|
| Period | ||
| 1.5.21 | ||
| Year Ended | to | |
| 30.6.23 | 30.6.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and gifts | 55,330 | 13,507 |
| Club memberships | 8,423 | 7,636 |
| Development and grants | 14,232 | 40,110 |
| 77,985 | 61,253 | |
| Other trading activities | ||
| Fundraising events | 20,787 | 15,094 |
| Bar income and club hire | 14,710 | 25,537 |
| Sponsorships | 6,052 | 5,997 |
| 41,549 | 46,628 | |
| Total incoming resources | 119,534 | 107,881 |
| EXPENDITURE | ||
| Other trading activities | ||
| Bar and other stock | 489 | 12,686 |
| Charitable activities | ||
| Rugby costs | 16,244 | 10,953 |
| Charitable donations | - | 100 |
| Fundraising consultancy fees | 45,800 | - |
| 62,044 | 11,053 | |
| Support costs | ||
| Management | ||
| Trading set up | - | 1,825 |
| Promotions and advertising | 12,720 | 7,895 |
| Covid grant spend | - | 936 |
| 12,720 | 10,656 | |
| Finance | ||
| Bank charges | 208 | 523 |
| Other | ||
| Property & grounds maintenance | 9,690 | 23,780 |
| Carried forward | 9,690 | 23,780 |
This page does not form part of the statutory financial statements
Page 10
Prenton RUFC Limited
Detailed Statement of Financial Activities for the Year Ended 30 June 2023
| Detailed Statement of Financial Activities for the Year Ended 30 June 2023 |
||
|---|---|---|
| Period | ||
| 1.5.21 | ||
| Year Ended | to | |
| 30.6.23 | 30.6.22 | |
| £ | £ | |
| Other | ||
| Brought forward | 9,690 | 23,780 |
| Rates and water | 856 | 638 |
| Insurance | 1,256 | 1,226 |
| Light and heat | 5,109 | 4,913 |
| Telephone | 2,772 | 2,285 |
| Postage and stationery | 74 | 272 |
| Sundries | 2,762 | 1,453 |
| Professional fees | 21,320 | 2,030 |
| Plant & machinery depreciation | 3,534 | 3,927 |
| Computer equipment | 714 | - |
| 48,087 | 40,524 | |
| Total resources expended | 123,548 | 75,442 |
| Net (expenditure)/income | (4,014) | 32,439 |
This page does not form part of the statutory financial statements
Page 11