ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022
VALE OF YORK
ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1197044
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
CONTENTS
| Page 3 | Legal and Administrative Information |
|---|---|
| Pages 4 to 5 | Trustees' Report |
| Page 6 | Statement of Financial Activities |
| Page 7 | Balance Sheet |
| Pages 8 to 15 | Notes to the Financial Statements |
| Page 16 | Independent Examiner's Report |
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VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1197044 DATE OF REGISTRATION 10th December 2021 START OF FINANCIAL PERIOD 10th December 2021 END OF FINANCIAL PERIOD 31st December 2022 TRUSTEES AT 31ST DECEMBER 2022 Dr Ian Leonard Martin Neil Musgrove Beverley Horsfield Donaldina Ryan LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO - Foundation Registered 10th December 2021
OBJECTS
The advancement of amateur sport by providing facilities for athletics and healthy recreation in a friendly, safe environment which is for the benefit of children and adults inn Selby, York and the surrounding area.
CORRESPONDENCE ADDRESS Selby Leisure Centre Scott Road Selby YO8 4BL PRIMARY BANKERS Virgin Money 46 Coney Street York YO1 9NQ INDEPENDENT EXAMINERS Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
TRUSTEES' REPORT
FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022
Objectives and Activities
Summary of the Purposes of the Charity
The advancement of amateur sport, by providing facilities for athletics and healthy recreation in a friendly, safe environment which is for the benefit of children and adults in Selby, York and the surrounding area.
Summary of the Main Activities
Provide athletics and running based groups and activity sessions according to a seasonal timetable.
Provide coaching in both athletics and running for competitive and non competitive members. Support those who may not otherwise be able to engage in athletics due to financial constraints to train and compete. Provide equipment resources and locations in which and with which to enable participation in athletics and running activities. Engage with the broader community (non members) to provide diversionary sports based activity and access to activities via social prescribing from local primary care services.
Achievements and Performance
Summary of the Main Achievements
Run weekly athletics and running based groups and activity sessions according to a seasonal timetable.
Provide coaching in both athletics and running for competitive and non competitive members . Support those who may not otherwise be able to engage in athletics due to financial constraints to train and compete.
Provide equipment resources and locations in which and with which participate in athletics and running activities.
Engage with the broader community (non members) to provide diversionary sports based activity and access to activities via social prescribing from local primary care services. A trustee has become regional chair of the EA. We continue to make progress with the planning aspect of developing a dedicated compact athletics facility. We have identified and agreed (in principle) to a peppercorn rent on 3 acre site adjoining the development envelope of Selby town. Planning application for a COU to function F2 has been submitted to North Yorkshire Council. We have managed to keep the costs to just that of submitting the application and have used in house expertise to produce supporting documents and reports at no cost.
We have grown the charity since inception in 2021 and we have 109 members, with 44 competitive athletes. There are 39 under 11s and 19 under 17s.
We have 9 volunteers and 4 coaches and further volunteers awaiting specific training to be able to coach and lead runs, leading to an expansion of our activities on offer.
Financial Review
The Charity has received total incoming resources of £28,930 and total resources expended were £30,714, which generated net loss of £1,784 for the initial financial period ended 31st December 2022.
The Charity's total reserves as at the 31st December 2022 were £3,000.
Structure, Governance and Management
Trustee Selection Methods
Appointment of charity trustees (1) Apart from the first charity trustees, every trustee must be appointed by a resolution passed at properly convened meeting of the charity trustees. (2) In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
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VALE OF YORK ATHLETIC COMMUNir Ichariiable IrorpOrale Organi¥bonl TRLISTEE8' REPORT Icontinyodl FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022 Tfyziryys. r¢e5pon51Dllnlt5 Tnt IrDsiee5 ale responsib for prep3rir#J IhÈ Re Trlee5 the fwr481 s¢atements xcordan¢e with ap1¢a an¢J Ihe UDrted ACcr1j siwxtsrth lihtod KirydDm Ger•8 Accepted Ptcounling Pla¢t0 GAAPI. The Law to Charnies ift Er¥Jknd and wal3. ts ChBrtyes Act 2011. Charny lfvttounls arKI RerAinal Règu1105 and the provisn$ ol the GowrryNJ DorumEni requre$ lh2 InJ51ees ¥epartr fir1471 siaiemenis for each financial year which V8 8 Iruo and lair wew of ih 5taie of affaw5 ol I chanty w ol tINry 1o%ource5 and aOKation ol rgsourc•5. includiw ihL¥ and e¥krthur¢ ol ¢haiy for ithat perKJ. In k¥wanng those SlalLYnen15. the tru51¢eg aro required lo. 58leci Suita) acCn11r and then them c. obT•rv• iho m•$ wJ prryipc in lh¢ Chtsry SORP.. make j¢Jgeme•)Is and eslimaie5 Ih81 are reasonable aThJ rthjeni.. prtsporo the firhon¢l )Ibts¢nents on li ib iiwvvtuwww i¢J presume thji CP) wll continue lo oper4e. The Irusieès ar• respor6ibl8 ILY k•¢kYW x¢LntiN4 tardS whith dwbse wlh re8swbl 4¢¢urnry al any lir the anciai Po11 ol ine cnarity ano 10 enaNe ihem 10 enwre Ihai the fwwrval st3iemern8 compty wflh Ihe charl15 Aa 2011, the Charity (Accounts Rep$) Re9alK aTr1 the 01 Ihe GernIng DocumeNt. They ate also responsibk? lor 88f8guardiny th• aweE¥ of charty and r•kirJ Tea8rmt40 8ps lor the by•venlian •nd d•lKlw of fr•u(I othcr Irregulaiigie& Apk¥ov8d Oy th• Ttustt•$on................ $vJnwl w ih•ir b•h•ll by Tn*iM. Prini•d Name.. Vt4srfLoJJ
VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Charitable Activities 3b Activities for Generating Funds 3c Investment Income 3d Other Incoming Resources 3e TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward Transfer of Funds 18 Transfer Between Funds 5 TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL Funds Funds 2022 £ £ £ - 12,535 12,535 10,753 - 10,753 5,626 - 5,626 14 - 14 2 - 2 16,395 12,535 28,930 16,721 13,293 30,014 700 - 700 17,421 13,293 30,714 (1,026) (758) (1,784) - - - 4,784 - 4,784 (1,032) 1,032 - 2,726 274 3,000 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 15 form part of these financial statements.
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VALE OF YORK ATHLETIC COMMUNITY (Charitable IncorpDraied organonI BALANCE SHEET ASAT31ST DECEM8ER2022 unrest0 Restred Funds Total 31-Dec-22 Flxd Assets Tanoiblè AAsbt$ Invaslmon Toi81 Fixad Asset• Current A8Mt Debtors & Prepayments Cash ai Bank in HaThY 3.436 3.436 274 3,710 Cr•diior.. A1$ lallkng y 710 710 NET CURAENT ASSETS 274 TOTAL ASSEfs knss ront liablth 2.716 274 3,orK) Cr•dltors.' AnnIS lallng du• kn more Ihan wye¥ 10 NET ASSET5 2,726 274 3.000 Fund$ olthe Charity Gdnèr*l Fund5 ReslrKled Fun 2.726 2.726 274 274 Toi41 Funds 2,726 274 3.000 Approved by I Trtk4teO5(47..................... £Tr.......1..9.......20..zs........................................................... Signed on their behaff by TnL4ts0.. Printed Name..
VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services have been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. Perishable and non perishable food items donated to the Charity for onward distribution to beneficiaries are not valued in the Statement of Financial Activity.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment
25% - Reducing Balance Basis
2. TANGIBLE FIXED ASSETS
The CIO held no fixed assets during this initial financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2022 : None
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VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022
3. INCOMING RESOURCES
| Note a) Donations, Grants & Legacies Grants Received 5 b) Charitable Activities Activities & Events c) Activities for Generating Funds Equipment Sales Fundraising Income Membership Income d) Investment Income Interest e) Other Incoming Resources Sundry Income |
Unrestricted Restricted TOTAL Funds Funds 2022 £ £ £ - 12,535 12,535 - 12,535 12,535 10,753 - 10,753 10,753 - 10,753 2,567 - 2,567 358 - 358 2,701 - 2,701 5,626 - 5,626 14 - 14 14 - 14 2 - 2 2 - 2 |
|---|---|
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VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022
4. RESOURCES EXPENDED
| Note a) Cost of Charitable Activities Activities & Events Advertising & Publicity Bank Charges Books & Publications Equipment Costs 5 Insurance Costs Licenses & Subscriptions Office Costs Rent & Rates 5 Sundry Expenses 5 Team Kit Costs 5 Telephone Costs Training Costs 5 Travel & Subsistence Website Costs b) Governance Costs Independent Examiners Fees 9 |
Unrestricted Restricted TOTAL Funds Funds 2022 £ £ £ 2,036 - 2,036 126 - 126 368 - 368 128 - 128 4,286 8,327 12,613 102 - 102 1,310 - 1,310 2,938 - 2,938 2,508 1,838 4,346 11 195 206 2,269 1,324 3,593 36 - 36 - 1,609 1,609 580 - 580 23 - 23 16,721 13,293 30,014 700 - 700 700 - 700 |
|---|---|
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VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022
5. RESTRICTED FUNDS
| Selby DC Fund Karl Arthur Fund Stronger Communities Fund Hey Smile Foundation STC Community Award Fund Arnold Clark Fund Local Giving Fund England Athletics Fund |
Balance Balance 10-Dec-21 Income Expenditure Transfers 31-Dec-22 £ £ £ £ £ - 540 788 248 - - 2,005 1,911 - 94 - 1,000 1,050 50 - - 3,390 3,565 175 - - 3,600 3,669 69 - - 1,000 1,419 419 - - 500 571 71 - - 500 320 - 180 - - 12,535 13,293 1,032 274 |
|---|---|
The restricted funds held are wholly represented by the Charity's cash reserves.
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VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022
6. INVESTMENTS
The CIO held no fixed assets investments during this initial financial period.
7. CASH AT BANK AND IN HAND
| Cash at Bank & in Hand 8. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Restricted Total Fund Fund 31-Dec-22 £ £ £ 3,436 274 3,710 3,436 274 3,710 Unrestricted Restricted Total Fund Fund 31-Dec-22 £ £ £ - - - - - - |
|---|---|
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Sundry Creditors Independent Examiners Fees |
Unrestricted Restricted Total Fund Fund 31-Dec-22 £ £ £ 10 - 10 700 - 700 710 - 710 |
|---|---|
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this initial financial period.
11. NET ASSETS BETWEEN FUNDS
| Fixed Asset Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted Total Funds Funds 31-Dec-22 £ £ £ - - - 2,726 274 3,000 - - - 2,726 274 3,000 |
|---|---|
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VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022
12. STAFF COSTS AND NUMBERS
The Charity employed no members of staff during this initial financial period.
13. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
17. COMPARATIVE FIGURES
There are no comparative figures available as this is the initial period of registered Incorporated Charitable Activity.
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VALE OF YORK ATHLETIC COMMUNITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022
18. TRANSFER OF FUNDS
The Trustees of the Vale of York Athletic Community sought guidance and advice and have agreed to register the Charitable Incorporated Organisation, Vale of York Athletic Community (Registered Charity Number 1197044). All assets and liabilities were transferred from Vale of York Athletic Community to the Vale of York Athletic Community (Registered Charity Number 1197044) during the financial period ended 31st December 2022 and the assets and liabilities transferred are as follows:
| Fixed Assets Tangible Assets Current Assets Debtors & Prepayments Cash at Bank and in Hand Total Current Assets NET CURRENT ASSETS TOTAL ASSETSless current liabilities NET ASSETS Funds of the Charity General Funds Restricted Funds Total Funds Transferred Creditors:amounts falling due within one year |
Unrestricted Restricted Total Funds Funds 10-Dec-21 £ £ £ - - - - - - 4,784 - 4,784 4,784 - 4,784 - - - 4,784 - 4,784 4,784 - 4,784 4,784 - 4,784 4,784 - 4,784 - - - 4,784 - 4,784 |
|---|---|
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VALE OFYORK ATHLETIC COMMUNITY (Charilale Incorporated Organisation) INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Report to Ihg trusteesl members ol the Vale of York Athlelics Communlty on the 8cc¢JJnts for th8 first period end&J 31st D•eemb¢r 2022 ¥et out on page6 6 to 15. Respectlve re8pon8lbllltl•8 af trust Ind •xminer The charity's trustegs are responsIe for the preparalhjn of th9 )unt& The c8rlty'g tfuytee5 consider that an aL1t is not roquired for this year under section 144 of the Charities Act 2011 (the Chantié5 h£tl and that an independent examination is needed. It Ss my re$ponsibilty to: examlna the a¢¢ounls under section 145 of t Charitiès ACL follow the procedures laid down in gèwal Dire¢iitins gwen by the Charty Comm15sion lundgr 5g¢tlon 14515llbl of the Charities Act, aThJ state whgth•r partKulor matters have c¥Jnx to my attbmU¢)n Ba•S1 of Ind•p•nd•nt •x•mln•r'• tht•m•nt My exarnination was carrkd out In rdance vrith general Dire¢1*Y given by the Chanty Commission. An examination Includes a revlew of the accounling T8U)rds kepl by the tharlly and a c¢ympafison of ihe accounis pre5enled with thosg records. 1181s0 include8 conshleralion of any unuwjal itgms crf disclosures in thé aco)unts, and seeking explanations from the Iruslees conceming any Such matters. Th¢ pr<r¥S undertaken do provide all Ihe evKl8nce that would b8 r8qulrad In an audit, and con88qu8ntly no opinion IB given a6 to whoth8r thg acrL)unts prftt • kn 8nd fair. view and the report 16 Ilmited lo Ihjse mattels sgt out In Ihe stslemeni bdow. Ind•p•nd•nt •x•mln•rf$ $l•t•m•nt In connectlon wlth my gxamlngtlon. no matter has comè to my attentwjn: which glve8 me reasonable cause to b¥lim thèt in any material reBpecl, the requirements.. to k••p a¢¢ounting records in accordance section 130 of tho Charili95 Act: and to prepare accounls which accord with th& nting records and comply with th8 accountlng requirements of tho Chariti98 Act have not been mol., or to which. in my opini¢)n. attentK)n should bg drawn in order to enable a proter understanding of the accounts to be reached. K. Collaku MAAT Castle Vlew Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Su8SgX P018 8TS Date.. 30th Octotw 2023