**REGISTERED COMPANY NUMBER: 13264923 (England and Wales) REGISTERED CHARITY NUMBER: 1195500** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** **FOR** **BARWELL SPORTS TRUST** Duncan & Toplis Limited 3 Princes Court Royal Way Loughborough Leicestershire LE11 5XR **BARWELL SPORTS TRUST** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** ||**Page**| |---|---| |**Report of the Trustees**|1 to 3| |**Independent Examiner's Report**|4| |**Statement of Financial Activities**|5| |**Statement of Financial Position**|6 to 7| |**Statement of Cash Flows**|8| |**Notes to the Statement of Cash Flows**|9| |**Notes to the Financial Statements**|10 to 15| **BARWELL SPORTS TRUST** ## **REPORT OF THE TRUSTEES FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** 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 period 13 March 2021 to 31 March 2022. 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). ## **INCORPORATION** The charitable company was incorporated on 13 March 2021. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The charity's objects (objects) are for the public benefit generally but with particular reference to the inhabitants of Barwell and Leicester and its surrounding areas: 3.1 to promote community participation in healthy recreation by providing facilities for the playing of sports capable of improving fitness and health (facilities in this article 3 (objects) means land, buildings, equipment and organising sporting activities); 3.2 to advance amateur sport by promoting such sports or games which promote health by involving physical or mental skill or exertion and which are undertaken on an amateur basis; 3.3 to provide and assist in the provision of facilities for sport, recreation and other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life; and 3.4 to advance the education of the public, in particular, children and young people (including their physical and academic education) by such means as the trustees may from time to time determine. ## **Significant activities** The management of and hiring out of a 3G football pitch at Barwell sports complex. During the period the charity managed to secure all required funding for the construction of the 3G pitch at a cost of £686,494 which has allowed the charity to begin to fulfil it's aims and purposes. The breakdown of funding received towards this cost is detailed on Note 3 of the financial statements. The trustees extend their thanks to the key funders who made this possible: -The Football Foundation - -The Football Stadia Improvement Fund - -All the local individuals and businesses who donated towards the project ## **Public benefit** The trustees have paid due regard to the guidance issued by the charity commission on public benefit. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The 3G pitch at Barwell sports complex now has regular bookings throughout the week. This includes local ladies, junior and amateur teams. Over 900 people per week benefit from the facility. A partnership has been established with Leicester City FC in the community and two football camps have been held in school holidays for local young people. Volunteers, along with our own volunteers and an outside contractor, maintain the facility to the required legal standard for use by all users. No amount is included in the financial statements for volunteer time in line with the SORP. Page 1 **BARWELL SPORTS TRUST** ## **REPORT OF THE TRUSTEES FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** ## **FINANCIAL REVIEW** ## **Financial position** The accounts show a significant surplus in the year. This is due to the significant funding received towards the construction of the 3G pitch which has been completed and capitalised in the year. The day to day running of the pitch has operated at a small surplus, which will be re-invested into maintaining and eventually replacing the pitch in future. The charity has total funds carried forward of £513,095 made up of unrestricted funds of £22,372 and restricted funds of £490,723 This includes cash reserves of £79,734, of which £15,033 was unrestricted. At the year end there were no funds in deficit. ## **Reserves policy** A clear policy by the trustees is to hold funds for the future resurfacing of the facility estimated in 10 years time, it has been suggested by the football foundation that £25,000 per year needs to be allocated into a sinking fund. ## **FUTURE PLANS** The charity intends to continue work with the local community providing footballing facilities to local clubs, groups and individuals through rent of the 3G pitch. ## **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. ## **Recruitment and appointment of new trustees** Trustees are chosen if they reflect the ethos of the sports trust and are involved in local sport in the Barwell community. ## **Induction and training of new trustees** There are no formal policies or procedures in place with respect to the induction and training of trustees, which is undertaken as and when considered beneficial to the Charity. However, upon appointment all trustees are made aware of their responsibilities and are referred to the appropriate charity commission guidance for trustees. ## **Risk management** The trustees perceive the only significant risk to the charity is if demand for and bookings of the pitch were to fall. However, there are the agreements noted in this report with Barwell Football Club and Leicester City in the Community which mitigate this, and with the World Cup in 2022 and the ongoing Premier League season, the trustees consider the likelihood of this to be minimal. The Trustees have reviewed the major risks to which the Charity is exposed and systems have been established to mitigate those risks. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 13264923 (England and Wales) ## **Registered Charity number** 1195500 ## **Registered office** Barwell Sports Club The Cricket Field Kirkby Road Barwell Leicester LE9 8FQ Page 2 BARWELLSPORTSTrUST REPORTOFTrIETRLISTEES FOR The PERIOO 13 MARCH 2021 TO 31 MARCH 2022 T￿￿tee$ DJ Lain8 lappointed 13.3.211 5 W Mathieson lappoiThred 13.3.211 T D wr￿ht (appointed 16.2.221 It W Gues¢ lappointed 16.2.221 Independent Examlner ICAEW Ountan & Twlis ￿MIted 3 Prinies Court Royal Way Lovghborough Leicestershire LEII 5XR Approved byorder ofthe board of trustees on.-_.... arKI si8ned on its behalf hf.. DJLain8-Tr Pa8e 3 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARWELL SPORTS TRUST** ## **Independent examiner's report to the trustees of Barwell Sports Trust ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the period 13 March 2021 to 31 March 2022. ## **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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies. 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: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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. Niall Kingsley ACA Duncan & Toplis Limited 3 Princes Court Royal Way Loughborough Leicestershire LE11 5XR 26/01/2023 Date: ............................................. Page 4 **BARWELL SPORTS TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
31,633
**Charitable activities**
5
Letting of 3G Pitch
16,908
Investment income
4
150
**Total**
48,691
**EXPENDITURE ON**
**Charitable activities**
6
Running Costs of 3G Pitch
10,779
Depreciation of Pitch and Facilities
15,540
**Total**
26,319
**NET INCOME**
22,372
**TOTAL FUNDS CARRIED FORWARD**
22,372|Restricted
funds
£
542,332
-
-
542,332
-
51,609
51,609
490,723
490,723|Total
funds
£
573,965
16,908
150
591,023
10,779
67,149
77,928
513,095
513,095| |---|---|---| The notes form part of these financial statements Page 5 ## **BARWELL SPORTS TRUST** ## **STATEMENT OF FINANCIAL POSITION 31 MARCH 2022** |Notes
**FIXED ASSETS**
Tangible assets
13
**CURRENT ASSETS**
Debtors
14
Cash at bank
**CREDITORS**
Amounts falling due within one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
16
**NET ASSETS**
**FUNDS**
19
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
128,624
380
15,033
15,413
(21,706)
(6,293)
122,331
(99,959)
22,372|Restricted
funds
£
511,719
-
64,701
64,701
(85,697)
(20,996)
490,723
-
490,723|Total
funds
£
640,343
380
79,734
80,114
(107,403)
(27,289)
613,054
(99,959)
513,095
22,372
490,723
513,095| |---|---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2022 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. The notes form part of these financial statements continued... Page 6 BARWELL SPORTSYRUST sTATEME1￿OF FINANCIA Pom. ¢oiitlnued 31 MAJ¢CH 2022 These financial statements have been prepared in acco￿anCe with the pro¥isions ap￿Icable to (￿Yrilable ct¥npanies subject to the small COM￿￿￿5 regime. The financial statements were apwo¥*d by the Board of Trustees and 3￿hOr￿￿ ior Issue on . $18ned on its be￿lf by.. ZÉ.1 '2oZ3 . and were rustee The Mtes farm part of these financia15tatements Page 7 **BARWELL SPORTS TRUST** ## **STATEMENT OF CASH FLOWS FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash (used in)/provided by investing activities
**Cash flows from financing activities**
New loans in year
Net cash provided by financing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning of the**
**reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|£
677,117
677,117
(707,491)
150
(707,341)
109,958
109,958
79,734
-
79,734| |---|---| The notes form part of these financial statements Page 8 **BARWELL SPORTS TRUST** ## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** |**1.**
**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
**Net income for the reporting period (as per the Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Increase in debtors
Increase in creditors
**Net cash provided by operations**|£
513,095
67,149
(150)
(380)
97,403
677,117| |---|---| ## 2. **ANALYSIS OF CHANGES IN NET DEBT** ||At 13.3.21||Cash flow|At 31.3.22| |---|---|---|---|---| ||£||£|£| |**Net cash**||||| |Cash at bank||-|79,734|79,734| |||-|79,734|79,734| |**Debt**||||| |Debts falling due within 1 year||-|(10,000)|(10,000)| |Debts falling due after 1 year||-|(99,959)|(99,959)| |||-|(109,959)|(109,959)| |**Total**||-|(30,225)|(30,225)| The notes form part of these financial statements Page 9 **BARWELL SPORTS TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** ## **1. GENERAL INFORMATION** Barwell Sports Trust is a Private Charitable Company Limited by Guarantee, registered in England and Wales. The charity's registered number is 1195500 and the Company registration number is 13264923. The registered office and principal place of business is Barwell Sports Club The Cricket Field, Kirkby Road, Barwell, Leicester, LE9 8FQ. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The financial statements cover the individual entity. The entity constitutes a public benefit entity as defined by FRS 102. There are no material uncertainties with going concern. ## **2. 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. Income from grants, and government grants, is recognised at fair value when the charity has entitlement after any performance conditions are met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. ## **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** Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses on acquisition. Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: 3G Pitch 10% on cost Fixtures and Fittings 4% on cost continued... Page 10 **BARWELL SPORTS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** ## **2. ACCOUNTING POLICIES - continued** ## **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. ## **Debtors and creditors receivable / payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **Critical accounting judgements and estimation uncertainty** In the application of the charitable company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. There are no critical accounting judgements or estimation uncertainty that, in the opinion of the trustees, will have a material effect on the financial statements. ## **3. DONATIONS AND LEGACIES** |Donations
Grants
Grants received, included in the above, are as follows:
Charitable Activities|£
30,800
543,165
573,965
£
543,165| |---|---| Grants received, included in the above, are as follows: Included within grants receivable are the following amounts: Football Foundation - £494,277 Which are government grants as defined by the SORP. continued... Page 11 **BARWELL SPORTS TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** ## **4. INVESTMENT INCOME** |**4.**|**INVESTMENT INCOME**|||||| |---|---|---|---|---|---|---| |||||||£| ||Deposit account interest|||||150| |**5.**|**INCOME FROM CHARITABLE ACTIVITIES**|||||| |||Activity||||£| ||3G Pitch Letting Fees|Letting of 3G Pitch||||16,908| |**6.**|**CHARITABLE ACTIVITIES COSTS**|||||| ||||Direct||Support|| ||||Costs (see||costs (see|| ||||note 7)||note 8)|Totals| ||||£||£|£| ||Running Costs of 3G Pitch||6,807||3,972|10,779| ||Depreciation of Pitch and Facilities|||-|67,149|67,149| ||||6,807||71,121|77,928| |**7.**|**DIRECT COSTS OF CHARITABLE ACTIVITIES**|||||| |||||||£| ||Light and heat|||||4,724| ||Rent|||||2,083| |||||||6,807| |**8.**
**SUPPORT COSTS**
Running Costs of 3G Pitch
Depreciation of Pitch and Facilities
**9.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Operating Lease Rental Payments|Governance
Other
costs
£
£
-
3,972
67,149
-
67,149
3,972|Totals
£
3,972
67,149
71,121
£
67,148
2,083| |---|---|---| continued... Page 12 **BARWELL SPORTS TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** ## **10. INDEPENDENT EXAMINER'S REMUNERATION** |Independent Examination Fees
VAT and Compliance Advice|£
1,950
2,022| |---|---| ## **11. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the period ended 31 March 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the period ended 31 March 2022. ## **12. STAFF COSTS** There were no staff costs for the period ended 31 March 2022. The average monthly number of employees during the period was as follows: Trustees 4 No employees received emoluments in excess of £60,000. ## **13. TANGIBLE FIXED ASSETS** |**COST**
Additions
**DEPRECIATION**
Charge for year
**NET BOOK VALUE**
At 31 March 2022
**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors|Freehold
property
£
647,491
64,748
582,743|Fixtures
and
fittings
£
60,000
2,400
57,600|Totals
£
707,491| |---|---|---|---| ||||67,148| ||||640,343| ||||£
380| continued... Page 13 **BARWELL SPORTS TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** ## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Other loans (see note 17)
Trade creditors
VAT
Accruals and deferred income
**16.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Other loans (see note 17)
**17.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
Amounts falling between one and two years:
Other loans - Due in more than 1 Year|£
10,000
73,008
939
23,456
107,403
£
99,959
£
10,000
99,959| |---|---| ||| The amount included in the above loan, relates to the loan from Cleartherm Glass Sealed Units LTD as detailed further in note 21. ## **18. LEASING AGREEMENTS** Minimum lease payments under non-cancellable operating leases fall due as follows: |Within one year
Between one and five years
In more than five years|£
5,000
20,000
97,917
122,917| |---|---| ## **19. MOVEMENT IN FUNDS** |Net
movement
in funds
£
**Unrestricted funds**
General fund
22,372
**Restricted funds**
Football Foundation
445,068
Football Stadia Improvement Fund
45,655
490,723
**TOTAL FUNDS**
513,095|At
31.3.22
£
22,372
445,068
45,655
490,723
513,095| |---|---| continued... Page 14 **BARWELL SPORTS TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 13 MARCH 2021 TO 31 MARCH 2022** ## **19. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Football Foundation
Football Stadia Improvement Fund
**TOTAL FUNDS**|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
48,691
(26,319)
22,372
494,277
(49,209)
445,068
48,055
(2,400)
45,655
542,332
(51,609)
490,723
591,023
(77,928)
513,095| |---|---| Football Foundation is for the income and expenditure related to building and running the 3G pitch. Football Stadia Improvement Fund is for the expenditure on improving the fixtures and fittings surrounding the 3G pitch. ## **20. RELATED PARTY DISCLOSURES** During the year, a loan of £109,959 was made to the charity by Cleartherm Glass Sealed Units Limited of whom a trustee is also a director. There is no formal agreement in place in respect of this loan and there are no formal repayment terms. No interest has been charged on this loan. This loan is not on a commercial basis. Furthermore, the charity entered into a lease agreement with Barwell Sports and Cricket Club Company Limited on 6th November 2021. This lease is for a period of 25 years in respect of the land on which the 3G pitch is situated with an agreed minimum rent of £5,000 per year subject to reviews throughout the period. In the current year £2,083 was paid by the charity to Barwell Sports and Cricket Club Company Limited in respect of this agreement. The subsequent lease commitments in respect of this are as shown on note 18 of these accounts. During the year, the charity received £300 in donations from Barwell Cricket Club. These were received without condition or restriction. Furthermore, Barwell Football Club paid over £29,200 to the charity. This was made up of donations and sponsorships which Barwell Football Club had collected on behalf of the charity. These donations and sponsorships were received without condition or restriction. ## **21. LIMITED BY GUARANTEE** The charitable company is a private limited company limited by guarantee and consequently does not have share capital. Each member is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. Page 15