DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
Charity number: 1197935
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
SOUTHWARK COMMUNITY SPORTS TRUST
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 7 |
| Independent examiner's report | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 - 15 |
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
Trustees
Mr J Smith Mr R Balmforth Mr S Keaton Mr J Thornton
Charity registered number 1197935
Principal office
Dulwich Sports Ground Turney Road London Dulwich SE21 7JH
Accountants Menzies LLP Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP
Bankers Barclays Bank, West Norwood Branch
Solicitors Milbank 100 Liverpool Street London EC2M 2AT
Page 1
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
Trustees report for the period ended 31st March 2023
The trustees present their report and the financial statements for the period ended 31st March 2023.
The reference and administrative information have been set out on page 1 and forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Objectives and activities
Purposes and aims
The Southwark Community Sports Trust (“SCST”) was incorporated on 22nd February 2022.
The charity’s purposes are “To promote for the benefit of the inhabitants of Southwark and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.”
In accordance with these principles, the mission of the charity is to continue to provide high quality and affordable sports facilities to the people of Southwark and the surrounding area.
To pursue this mission, the charity:
-
provides facilities for cricket, football, rugby and other sporting, recreational and educational pursuits for member clubs and the general community;
-
manages the multi-use Dulwich Sports Ground and the Hollies Sports ground in Dulwich, south London.
-
promotes the use of the Facility within the community;
-
encourages the use by local schools, community groups, additional sports and sporting organisations;
-
works with the English Cricket Board, the Football Foundation, the Rugby Football Union and Sport England to provide the requisite facilities for their sports,
The SCST took out a 30-year lease on the ground from the Dulwich Estate in 2019. The ground covers 39 acres. The area bounded by Turney Road, Burbage Road and Gallery Road is used to provide in winter:
-
Six senior football pitches
-
Three junior and one intermediate pitch
-
Four mini pitches
-
Two five a side pitches
-
Four training grids and a training area
-
One senior rugby pitch
In summer the grounds accommodate:
-
Four grass cricket squares
-
Three artificial cricket wickets
-
Three lanes of cricket nets
The SCST maintains a large Pavilion on the Dulwich Sports Ground with twelve changing rooms, toilets and shower facilities together with a recreation area. In addition, the SCST is in the process of gradually improving the condition of a delipidated smaller pavilion on the Hollies ground. In addition to the changing rooms and toilets within the building, the Trust has been working to develop a working gymnasium and outdoor exercise area for member clubs.
Page 2
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
The Trust was established as a CIC with founder member clubs in 2010 as part of a rescue after the London University of South Bank handed the lease over to the SCST. Many of those clubs have remained as users of the facility. Significant volunteer input has been made in this year by:
Dulwich Cricket Club Dulwich Village FC Kings College Hospital RUFC South Bank Cricket Club South Bank CUACO FC
The ground is used extensively by a range of sports clubs, local state schools, local and London based companies and individual users.
The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help.
The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
Achievements and performance
The Southwark Community Sports Trust was incorporated following an application to the Charities Commission in 2022. The charity continued to build upon the Community Interest Company (CIC) of the same name. The CIC had successfully grown from a start- up in 2012 to a healthy and large provider of sports facilities. The organisation had taken over the lease of the Dulwich Sports Ground from the London South Bank University and subsequently leased the next-door ground called “The Hollies”. In 2019, the CIC concluded negotiations with the landlords, the Dulwich Estate to secure a new lease for thirty years. The new lease provided a secure base for further growth and eventual recognition as a Charitable Incorporated Organisation.
Recent legislation enabled the Trust to transition taking all the assets and responsibilities into the new charity. The report describes the charity's main activities.
The CIC did not have individuals as members but welcomed clubs and organisations as members. The founding member clubs were expected to provide resources and volunteers to manage the facilities in return for priority access. In the final year of the CIC, the founder member clubs included:
Dulwich Cricket Club Dulwich Village FC King’s College Rugby Football Club South Bank Cricket Club South Bank CUACO FC The Lambeth and Southwark Primary Schools Football league.
During the first year of operation as a charity, the thirty-nine-acre estate allowed the Trust to offer extensive access for playing sports in winter and summer during the day and in evenings both on weekdays and weekends. In the first year of operation, the Trust offered pitches and facilities to large number of sports clubs, schools and local organisations.
The following analysis looks at first winter sports and then summer sports.
Page 3
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Winter sports
The trust financial year includes the end of the 2022 football and rugby season and the majority of the 2022 to 2023 season.
605 organised football matches took place in the 28 weeks of the first year. The weekly total average at an impressive twenty-one matches per week. The following splits can be seen -:
-
505 weekend games and 100 weekday games
-
73% of weekend games involved junior football while all weekday fixtures involved local schools, academies and colleges.
The principal senior football clubs at weekends were dominated by South Bank CUACO FC who ran eight teams in playing 78 games. The other major users were Grantonians FC, Harbut Rovers FC, SWAG, AFC Nasaa, AFC Brixton and West Norwood FC. In addition, there were five local senior clubs who also played at the Trust on weekend afternoons.
Junior football takes place on Saturday mornings and over most of Sundays which totalled 373 games. A simple sum of the matches by say 25 players and officials is just short of 10,000 which when multiplied by only one hour is huge amount time given over for junior participation. The number players are often matched by local families, friends and coaches. A major user is Dulwich Village FC who played 255 matches at the Trust who offer both girls and boys junior teams.
Despite such high usage other junior clubs included the Lambeth and Southwark Primary Schools league on Saturday mornings. The other substantial users were Dulwich Hamlet Juniors, AFC Lions, Julians FC, Palace Knights and Brixtane FC Juniors with some representative games and a few smaller junior clubs.
Weekday football is dominated by eight local schools- Ark Globe Academy, Charter School in East Dulwich, Ark Evelyn Grace Academy, Cedars School, SFX Balham, Norwood School, Ark All Saints Academy and Bishop Thomas Grant School. In addition, the Trust was pleased to welcome Kings College London Students Union who organised 34 games of football and the Aspire Academy in association with Dulwich Hamlet FC.
Matches are only part of football usage as weekday evening training sessions were organised by member clubs. Over the year, the Trust hosted football academy training camps and schools training activities.
It is significant that football clubs based in Lambeth, Southwark and Lewisham travelled to play at the Turney Road facilities. Clearly there is a need for continued use of our grass.
Rugby Union is recovering slowly from the impact of COVID-19. The Trust supported King’s College Hospital RFC as the club sought to recruit players to form two competitive teams. In the year KCH RFC only were able to play 15 home games. The Club has been making efforts to recruit emphasising thier Tuesday evening training nights. The rugby pitch was used by Cedars School but all were concerned by the low utilisation. In the spring of 2023, some football matches were played on the rugby surface held. The trustees and the rugby club are seeking to make better use of the pitch in future seasons.
Summer sports
The sport of Cricket sees the Trust fully exploiting its grass and artificial wickets with 479 organised matches in the 2022 season. Prepared grass wicket cricket was played on 255 pitches – 53% of the overall number of games.
The artificial pitches offered 224 games (47%). In addition, on Saturday and Sunday mornings, Dulwich Cricket Club juniors have a block booking running from May until the end of July using all four artificial wickets. Dulwich send teams of boys and girls to play from under 8 through to under 13. The other major user, Last Man Stands is described in the section on midweek use.
The trust takes weekend afternoon cricket bookings from seventeen local clubs with the highest take up as shown in the table below. The summer season extending over twenty- two weeks has a very high utilisation rate with 167 matches played on Saturday and Sunday afternoon grass wickets:
| Dulwich Cricket Club | 56 |
|---|---|
| Ploughmans Cricket Club | 37 |
| South Bank Cricket Club | 27 |
| Barbados Overseas Cricket Association | 10 |
| London Indian Premier League | 8 |
Page 4
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
The high take up from the five member clubs reflects league commitments, historic friendly fixtures and club status. Dulwich CC offers both men and women’s cricket at weekends. Dulwich enter league teams in the Surrey Championship and Kent League, BOCA play in the Kent League and Ploughmans CC play in the Surrey Challenger league. The Trust was able to offer bookings to Alleyn Club and local school parents X1s. Nine of the teams also using the weekend facilities are clubs do not have their own club pitches.
Mid-week cricket is split between use of artificial pitches and grass wickets. Last Man Stands has been a major user for two seasons. The 2022 season offered the opportunity of playing on the three astroturf surfaces. Last Man Stands is well regarded as an entry vehicle in to organised cricket. The eight-man teams compete in a league based upon work based groups, some social sides or just friends playing limited overs on artificial wickets. The league booked 144 games across Monday to Thursday evenings over the summer. A huge commitment for all parties.
Cricket played on midweek summer evenings on grass wickets has become a major part of the Trust cricket workload with 88 games played largely from June to early August. Apart from junior clubs, 28 different teams played mid-week games at the Trust offering the opportunity to offer cricket to many groups of the local community.
Midweek not only sees organised games but training evenings and use of the three lane outdoor nets for clubs such as South Bank CC, Ploughmans CC and Streatham & Marlborough CC. The nets facility offers the opportunity for one-to- one sessions run by six ECB recognised coaches. The busy nature of the ground is further emphasised by allowing football and rugby training during the late summer evenings.
Senior cricket depends upon recruitment from junior teams. Dulwich played over eighty games on the artificial pitches in mid- week evenings and on weekend mornings. Weekend mornings saw children and parents involved in a fourteen-week season with 33 league and friendly games on Saturdays and 35 on Sunday. The astro turf pitces enable more participation for local children aged 7 to 13 years old. Dulwich CC introduced a ten-week cricket programme for young Afghan cricketers on Sunday mornings in the nets. The project was named “Snow Leopards” reflecting one of the national animals from Afghanistan.
The summer months allow local companies to hold sports days and team building exercises. The Trust was able to hold ten such events.
In short, very intensive use of the facilities by a range of sports and users drawn across the local community.
Financial review
As of 31st March 2023, the financial position of the charity was sound with revenues for the period since registration of £177,750 substantially covering costs of £151, 231.
The balance sheet shows assets such as grounds equipment at £47,132. There is a healthy contingency fund held at the bank with creditors and debtors being reflected at manageable levels. The Trust hold £300,789 in unrestricted funds.
The performance of the registered charity cannot easily be benchmarked as the previous years have seen the Trust operate solely as a CIC. Therefore, the trustees have shown the previous year of operation from the CIC accounts.
As the SCST charitable activities are shown in the CIO and the trading activities in Southwak Community Sports Ground Ltd, direct comparison is difficult as there has been a separation of financial allocation.
The primary purpose of sporting activity shows income growing from £154,732 to £177,750. The growth is not uniform across all sports revenues. Football and cricket incomes were roughly similar, the slightly longer winter sports income was slightly reduced due to a wet winter whilst cricket benefitted from a long and hot summer.
Expenditure is shown in the tables split between the charity and the trading company. In the year 2022-2023 the Trust made a small surplus of £26,519.
Page 5
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Principal risks and uncertainties
The Charity operates a major sports ground with associated buildings and infrastructure. The Trust has a thirty-year lease and has always paid rent promptly.
There are no uncertainties about the charity’s ability to continue as a going concern.
As a sports facility, we face periods of rain or perhaps drought which affect the income generating activities. So far, the Trust has managed to deal with seasonal weather extremes. Cricket is using more artificial surfaces, perhaps in the future winter sports may need to follow.
The sports facilities are very popular within the Community with football and cricket clubs and schools demand exceeding our capacity. Participation in rugby although only using one pitch has recovered slowly post COVID.
Operational risk assessments are carried out by the management team during the normal course of the sports season and for one-off events.
Reserves policy and going concern
The Trust has sought to build up cash reserves to meet most building contingencies – failure of roof or fabric, heating or boilers failing and such associated equipment. The maintenance for machinery for ground management is borne by the contractor.
To demonstrate the continuing robustness of the Trust, the trustees expect to have at least six months of reserve as contingency. The Trust was able to survive long spells of inactivity during the COVID-19 lockdowns.
The continued existence of the Trust since the early days of take over from the London South Bank University demonstrates the persistence and strength of the volunteers managing the facility.
Plans for the future
Managing and improving the estate of the SCST has been a significant responsibility for the past twelve years. The Trust does not have the resources for major renovation schemes nor the opportunity to set aside the revenue generating playing surfaces for years at a time. The Trustees have received seeking external advice for an incremental drainage and surface water management scheme based in the Hollies in the first instance. A positive contribution has been a ground improvement grant from the Football Foundation (FF). This seven- year programme requires both the FF and the Trust to support the purchase of materials and the use of improvement techniques such as hollow-tining. The grant is managed by Dulwich Village FC.
The grass surfaces are maintained by a contractor with a brief to maintain good standards and annual improvement. An additional artificial pitch has been commissioned for play in 2023. The surface will be part financed by the Surrey Cricket Foundation with the Trust paying 30% of the costs. New ground equipment has been acquired by the Trust with a plan for more efficient machinery. The efficient use of facilities has been a major area of focus by ground managers. The Trust is planning changing pitch locations in a move to seek the best balance of winter sports.
The Trust manages two significant pavilions. The main Pavilion has been recently refurbished as part of the lease renewal buildings and the main requirement is continue planned maintenance to maintain the level of good condition. The Hollies Pavilion is at best a storage facility. However, through replacement of the roof, the facility is now watertight and a gradual upgrade has been undertaken. Dressing rooms and shower facilities have been completed. A small multi-user gym and training space has been created. These small projects have moved the Trust forward in a gradual path to better utilisation.
The Main Pavilion bar has been extended and an extended range of drinks installed. As use of the bar grows, the need for regular bar workers has been highlighted.
Page 6
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
The Trustees established a monthly bar staff payroll through an external contractor. A lively and well used social facility is an aspiration for the trustees and member clubs.
Structure, governance and management
The Southwark Community Sports Trust is a registered charity incorporated on 3 February 2022 which commenced trading on 1st April 2022.
The Southwark Community Sports Ground company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.
All trustees give their time voluntarily and receive no benefits from the charity.
Both organisations are successor organisations to the Southwark Community Sports Trust CIC. The trustees wished to carry forward the aims and objectives as set out earlier. The challenge of managing a charity was recognised in the last year of the CIC. The management board of the CIC recognised that new systems of reporting and new management structures would need to be established and more volunteers would be needed.
The CIC had a board comprised of volunteers, some of whom took management roles and some represented the Founder member clubs. The challenge was to create an operational board bringing in new volunteers and asking existing board members to cover the new responsibilities. Throughout the financial year, the Trustees have been seeking more contributions from all the member sports club.
The trustees through their previous experience of managing the CIC and with considerable assistance from existing volunteers were able to maintain the functions of the new CIO and trading company. The transition to new structures and attracting more voluntary effort is a continuing challenge.
With the permission of the Dulwich Estate, the SCST was able to offer membership of the social facilities to local neighbours. It is hoped that more social members will join from the houses near to the sports grounds.
Appointment of trustees
The initial appointment of the SCST trustees was made on 16th February 2022. They are also directors under company law, who served during the period and up to the date of this report The trustees are as follows:
John Smith Jon Thornton Richard Balmforth Sean Keaton
As the accounts show the trustees received no remuneration nor any expenses.
Related parties and relationships with other organisations
The Trust has a subsidiary by control which is the Southwark Community Sports Ground. The charity owed the company £24,512 at the year end. The company has agreed to pay any profits to the company.
The Southwark Community Sports Trust has member clubs including Dulwich Cricket Club, Dulwich Village FC, King’s College Rugby Football Club, Ploughmans CC, South Bank Cricket Club and South Bank CUACO FC , who with other member clubs derive benefit through using the grounds. The Trust intends to develop active partnerships with those listed clubs.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
Mr J Smith Chair Southwark Community Sports Trust Date:
31-Jan-2024
Page 7
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
INDEPENDENT EXAMINERS' REPORT TO SOUTHWARK COMMUNITY SPORTS TRUST
Independent examiner's report to the Trustees of Southwark Community Sports Trust ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable 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 that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in 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 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 31-Jan-2024
Janice Matthews FCA
Menzies LLP
Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP
Page 8
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Note Income from: Charitable activities 3 Other trading activities Total income Expenditure on: Charitable activities 4 Other trading activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 177,750 - 177,750 151,231 - 151,231 26,519 274,270 26,519 300,789 |
Total funds 2023 £ 177,750 - 177,750 151,231 - 151,231 26,519 274,270 26,519 300,789 |
Total funds 2022 CIC £ 154,732 215,004 |
|---|---|---|---|
| 369,736 | |||
| 286,748 37,644 |
|||
| 324,392 | |||
| 45,344 | |||
| 228,926 45,344 |
|||
| 274,270 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 15 form part of these financial statements.
Page 9
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
BALANCE SHEET AS AT 31 MARCH 2023
| Note Fixed assets Tangible assets 8 Current assets Stocks Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Total net assets Charity funds Unrestricted funds 11 Total funds |
- 20,219 356,650 376,869 (123,212) |
2023 £ 47,132 47,132 253,657 300,789 300,789 300,789 300,789 |
3,264 3,929 337,321 344,514 (110,629) |
2022 CIC £ 40,385 |
|---|---|---|---|---|
| 40,385 233,885 |
||||
| 274,270 | ||||
| 274,270 | ||||
| 274,270 | ||||
| 274,270 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Mr J Smith
Chair Southwark Community Sports Trust Date: 31-Jan-2024
The notes on pages 11 to 15 form part of these financial statements.
Page 10
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. General information
Southwark Community Sports Trust is a charity and registered in England and Wales. The address of the priciple office is disclosed on the information on page.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Southwark Community Sports Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
Prior year comparatives shown relates to the previous entity Southwark Community Sports Trust CIC. These figures have been added as a memo for understanding and transparency purposes only.
2.2 Going concern
We confirmed that, having considered our expectations and intentions for the next twelve months and the availability of funds, the charity is a going concern.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 11
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
| Plant and machinery | - | 25% |
|---|---|---|
| Fixtures and fittings | - | 25% |
3. Income from charitable activities
| Football Rugby Cricket Other hire Other income Total 2022 |
Unrestricted funds 2023 £ 62,681 8,925 62,500 26,288 17,356 177,750 154,732 |
Total funds 2023 £ 62,681 8,925 62,500 26,288 17,356 177,750 154,732 |
Total funds 2022 CIC £ 70,502 100 60,198 16,629 7,303 |
|---|---|---|---|
| 154,732 | |||
4. Analysis of expenditure on charitable activities
Summary by fund type
| Charitable activities Total 2022 |
Unrestricted funds 2023 £ 151,231 286,748 |
Total 2023 £ 151,231 286,748 |
Total 2022 CIC £ 286,748 |
|---|---|---|---|
Page 12
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
5. Analysis of expenditure by activities
| Charitable activities Total 2022 |
Support costs 2023 £ 151,231 286,748 |
Total funds 2023 £ 151,231 286,748 |
Total funds 2022 CIC £ 286,748 |
|---|---|---|---|
Analysis of support costs
| Ground maintenance Utilities Pavilion expenditure Administration Other expenditure Total 2022 |
Activities 2023 £ 96,087 (3,662) 16,087 15,327 27,392 151,231 286,748 |
Total funds 2023 £ 96,087 (3,662) 16,087 15,327 27,392 151,231 286,748 |
Total funds 2022 CIC £ 102,619 38,137 64,783 24,207 57,002 |
|---|---|---|---|
| 286,748 | |||
6.
Independent examiner's remuneration
| 2023 | |
|---|---|
| £ | |
| Fees payable to the Charity's independent examiner for the independent examination of the | |
| Charity's annual accounts (excluding VAT) | 2,000 |
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) . During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL) .
Page 13
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
8. Tangible fixed assets
| Cost or valuation At 1 April 2022 Additions At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 Debtors Due within one year Trade debtors Other debtors Creditors: Amounts falling due within one year Trade creditors Other creditors Accruals and deferred income |
Plant and machinery £ 204,764 16,640 221,404 167,388 9,346 176,734 44,670 37,376 |
Fixtures and fittings £ 11,772 - 11,772 8,763 547 9,310 2,462 3,009 2023 £ 14,949 5,270 20,219 2023 £ - 26,305 96,907 123,212 |
Total £ 216,536 16,640 |
|---|---|---|---|
| 233,176 | |||
| 176,151 9,893 |
|||
| 186,044 | |||
| 47,132 | |||
| 40,385 | |||
| 2022 CIC £ 3,315 614 |
|||
| 3,929 2022 CIC £ 24,317 - 86,312 |
|||
| 110,629 |
9. Debtors
10. Creditors: Amounts falling due within one year
Page 14
DocuSign Envelope ID: FE68FE14-BF75-4964-804E-B34C6ED15A9C
SOUTHWARK COMMUNITY SPORTS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
11. Statement of funds
Statement of funds - current year
| Balance at 1 | Balance at 31 | |||
|---|---|---|---|---|
| April 2022 | Income | Expenditure | March 2023 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General Funds - all funds | 274,270 | 177,750 | (151,231) | 300,789 |
12. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 47,132 376,869 (123,212) 300,789 |
Total funds 2023 £ 47,132 376,869 (123,212) |
|---|---|---|
| 300,789 |
13. Related party transactions
The charity has a subsidary by control which is Southwark Community Sports Ground Ltd. The charity owed the company £24,512 at the year end. The company has agreed to pay any profits up to the charity.
The results of Southwark Community Sports Ground Ltd have not been consolidated in the accounts of Southwark Community Sports Trust due to the charity taking the exemptions to not produce consolidated accounts available to smaller charities.
Page 15