Charity Registered Number 1196561
THE REPOSM SPORTING HOUSING TRUST
Accounts For the period ended 31 March 2023
Simpson Associates Chartered Accountants and Business Advisors
THE REPOSM SPORTING HOUSING TRUST Report and accounts Contents
| Page | |
|---|---|
| Trustee's Annual Report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 7 |
THE REPOSM SPORTING HOUSING TRUST Trustees' Annual Report for the period ended 31 March 2023
Charity registration number:
1196561
Structure, Governance and Management
The Charity was incorporated on the 12th November 2021.
The Charity is governed by Consitution and is constituted as a Charitable Incorporated Organisation.
Trustees were chosen depending on their ability to support the foundation through their profession. The following persons served as Trustees in the period ended 31 March 2023:
Michael James Soper - Chairman
Adrian Simpson David Doyle David Cawdery Richard Teather
Objectives and Activities
Our mission is to address the complete lack of sheltered housing for sports people who have fallen into difficulty, by raising funds to build dedicated blocks of flats available to them at an affordable rent.
This is the report of the first year of the new Charitable Incorporated Organisation, known as The Reposm Sporting Housing Trust (registration number 1196561) with exactly the same objectives as the old Trust. The Trustees had received advice, that due to the nature of the Trust’s proposed activities in providing accommodation and the potential liabilities that could arise from that, an incorporated entity would be a more suitable entity than an unincorporated trust.
From 1st April 2022, all of the old Trust’s activities, assets and liabilities were transferred to the CIO and the old Trust ceased to operate.
Achievements and Performance
The 2022/23 year was spent continuing to make connections with high net worth individuals and sponsors some of whom work in the financial sector and property development and are interested in helping the Charity’s aim. A very successful dinner was held in December 2022 at the Sporting Club’s Christmas dinner and we are most grateful to them for their continuing support. The auction items at the dinner included a bat used by Sir Don Bradman which made a valuable £11,000 for the Charity.
A dinner at the Kia Oval is planned for April 2023 with Sir John Major and Sir Trevor McDonald.
These events are providing us with seed funding whilst pressing for larger funding to start development of the first units to accommodate ex-sports people.
Financial Review
The total amount of funds held at 31 March 2023 was £21,103, of which all was unrestricted.
A surplus of £21,103 was made on incoming funds of £53,475.
Declarations
The Trustees declare that they have approved the Trustees' report above.
Signed: Michael James Soper - Chairman
Date: 25th January 2024
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THE REPOSM SPORTING HOUSING TRUST Independent examiner's report
Independent examiner's report to the Trustees of THE REPOSM SPORTING HOUSING TRUST
I report to the trustees on my examination of the accounts of THE REPOSM SPORTING HOUSING TRUST for the period ended 31 March 2023.
Responsibilities and basis of report
As the charity Trustees of the THE REPOSM SPORTING HOUSING TRUST you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the THE REPOSM SPORTING HOUSING TRUST accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the THE REPOSM SPORTING HOUSING TRUST as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the Charities (Accounts and Reports) Regulations 2008 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.
I have no concerns and have come across no 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.
Mr Timothy Moorhouse Alum House, 5 Alum Chine Road Westbourne Bournemouth Dorset BH4 8DT
25th January 2024
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THE REPOSM SPORTING HOUSING TRUST Statement of Financial Activities for the period ended 31 March 2023
| Notes | Unrestricted | Restricted | Total | |
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2023 | 2023 | ||
| £ | £ | £ | ||
| Incoming resources | ||||
| Donations and legacies | 53,475 | - | 53,475 | |
| Total incoming resources | 3 | 53,475 | - | 53,475 |
| Resources expended | ||||
| Raising funds | 31,730 | - | 31,730 | |
| Charitable activities | - | - | - | |
| Other | 642 | - | 642 | |
| Total outgoing resources | 4 | 32,372 | - | 32,372 |
| Net (expenditure)/income before | ||||
| investments | 21,103 | - | 21,103 | |
| Net movement in funds | 21,103 | - | 21,103 | |
| Reconciliation of funds | ||||
| Total funds brought forward | - | - | - | |
| Total funds carried forward | 5 | 21,103 | - | 21,103 |
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THE REPOSM SPORTING HOUSING TRUST Registered Number: 1196561 Balance Sheet as at 31 March 2023
| Notes Current assets Cash and Bank Creditors: amounts falling due within one year Total assets less current liabilities Creditors: amounts falling due after one year Net assets/(liabilities) Funds Restricted funds Unrestricted funds Funds 5 |
Unrestricted Restricted Total funds funds 2023 2023 2023 £ £ £ 21,103 - 21,103 21,103 - 21,103 - - - 21,103 - 21,103 - - - 21,103 - 21,103 - - - 21,103 - 21,103 21,103 - 21,103 |
|---|---|
Signed on behalf of all the Trustees by:
Michael James Soper - Chairman
Approved by the board on 25th Janaury 2024
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THE REPOSM SPORTING HOUSING TRUST Notes to the Financial Statements for the period ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Statement of Recommended Practice (SORP) and the Charities Act 2011. These accounts are prepared on a going concern basis.
Recognition of income
Income is recognised in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the resource, when it is likely that the Trustees will receive the resource and that its monetary value can be reliably measured.
Volunteer help
The value of any voluntary help received is not included in the financial statements but is described in the Trustees' annual report as required.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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THE REPOSM SPORTING HOUSING TRUST Notes to the Financial Statements for the period ended 31 March 2023
| 2 Employees Average number of persons employed by the company 3 Analysis of income 2023 2023 £ £ Unrestricted Restricted funds funds Donations and legacies Donations received 47,436 - Donation from the old REPOSM 6,039 - Total income 53,475 - 4 Analysis of expenditure 2023 2023 £ £ Unrestricted Restricted funds funds Expenditure on raising funds: Commission 1,266 - Travel & subsistence 2,420 - Consultancy fee 10,000 - Advertising 3,690 - Event table 1,600 - Cost of prizes 11,694 - Auctioneer fees 1,060 - 31,730 - Other Insurance 842 - Bank fees (200) - 642 - Total expenditure 32,372 - Examiner's fees Independent examiner's fees |
2023 Number 0 2023 £ Total 47,436 6,039 - 53,475 2023 £ Total 1,266 2,420 10,000 3,690 1,600 11,694 1,060 - 31,730 842 (200) 642 32,372 2023 £ - |
|---|---|
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THE REPOSM SPORTING HOUSING TRUST Notes to the Financial Statements for the period ended 31 March 2023
5 Charity funds
| Unrestricted funds Total funds |
12 November 2021 £ - - |
Income £ 53,475 53,475 |
Expenditure £ (32,372) (32,372) |
31 March 2023 £ 21,103 21,103 |
|---|---|---|---|---|
6 Related party transactions
There were no related party transactions during the period.
7 Other information
The THE REPOSM SPORTING HOUSING TRUST is a charitable incorporated organisation and is registered with the Charities Commission.
Its registered office is:
Reposm Sporting Housing Trust Faulkner House 31 West Street Wimborne BH21 3TZ
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