Charity number: 1198391
Lydney Town AFC Youth
Trustees' report and financial statements
for the year ended 31 March 2023
Lydney Town AFC Youth
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees report | 2 |
| Independent examiners' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 9 |
Lydney Town AFC Youth
Legal and administrative information
| Charity number | 1198397 |
|---|---|
| Business address | The Dean Academy |
| Church Road | |
| Lydney | |
| Gloucestershire | |
| GL15 5DZ | |
| 07808 348503 | |
| chair@lydneytownyouth.co.uk | |
| Registered office | The Dean Academy |
| Church Road | |
| Lydney | |
| Gloucestershire | |
| GL15 5DZ | |
| Trustees | Jamie Cooke |
| Daniel Oversby | |
| Richard Brand | |
| Mark Smith | |
| Matthew Baker | |
| Accountants | Ben Hinton ACCA |
| Unit 1C Mushet Business Centre | |
| Crucible Close | |
| Coleford | |
| Gloucestershire | |
| GL16 8RE | |
| Bankers | Lloyds Bank |
Lydney Town AFC Youth
Report of the trustees
for the year ended 31 March 2023
The trustees present their report and the financial statements for the year ended 31 March 2023. The trustees who served during the year and up to the date of this report are set out on page 1.
Structure, governance and management
Governing Documents
CIO - FOUNDATION Registered 25 Mar 2022
Charitable Objectives
to provide facilities for recreation or other leisure time occupation, and in particular facilities for participation in the sport of football, in the interests of social welfare for young people under the age of 18 living in Lydney and the surrounding area who have need of such facilities by reason of their youth or age with a view to improving the conditions of life of such persons
Financial review
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other
On behalf of the board
Secretary
Lydney Town AFC Youth
Chair of Trustees Report
As we close off our first full fiscal year, Lydney Town AFC Youth (LTAFCY) continues to go from strength to strength. The purpose, other than those listed as objects in the constitution, of forming a charity was to offer some legal, financial, and structured protection to LTAFCY, as well as have access to funds to further support our objects what we otherwise may not have had. The relationship between LTAFCY and The Dean Academy, where we call home, is forever strengthening as a partnership and this is reflected in our investments in shared interests. We have invested in gates to the venue, as well as further goal posts and investing in people by supporting a recent school leaver with an interest in grounds management by sharing some associated costs with the school.
The accounts for the charity remain healthy, and our commitment to one day having a shared 3G pitch with The Dean Academy is as real as ever. The funding for such a project will be available in around 2 years, so working with the Athelstan Trust in getting some firm commitments is essential in order to launch a fundraising campaign with a realistic timeframe. This project will be driven as a community project with access to all, and not limited to team badges or size or shape of ball. LTAFCY will manage the venture, with representatives from other areas in sport as part of a sub-committee.
The club committee continue to manage the day to day running of the club, with development, welfare, financial, privacy, fundraising and facilities logistics. The work carried out by the committee, and other volunteers such as every coach, assistant coach and kit officers is essential to maintaining the reputation and performance of the club and charity. On behalf of the Trustees, we thank everyone involved in this process.
The refreshments unit ‘Wet Your Whistle’ is bringing in revenue and with its, soon to be, new location we hope for an increase in takings from all games, as well as generation of funds from an evening training drinks service.
The priority for the charity is the welfare of the children within the club and ensuring that every child in the local area has access to play football at the highest level that their ability allows. There shall be no barriers to accessing football for any child of school age, regardless of gender, sexuality, education, race, religion, or economic status.
As we look forward to the next year, we have the opportunity to not only better the club, but to better the local community as a whole. Working with our partners at the school, as well as other sports clubs, government bodies and associations, we have the chance to create something for all to enjoy. Nobody said it would be easy, they just promised it would be worth it!
Lydney Town AFC Youth
Independent examiner's report to the trustees on the unaudited financial statements of Lydney Town AFC Youth.
I report on the accounts of Lydney Town AFC Youth for the year ended 31 March 2023 set out on pages 2 to 9.
Respective responsibilities of trustees and independent examiner
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the 2011Act), That an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the 2011 Act, as amended; to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the2011 Act, as amended; and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(i) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep proper accounting records in accordance with section 130 of th 2011 Act: and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...........................................................
Ben Hinton ACCA Independent examiner Unit 1C Crucible Close Coleford Gloucestershire GL16 8RE
Lydney Town AFC Youth
Statement of financial activities
For the year ended 31 March 2023
| Unrestricted Notes funds £ Incoming resources Incoming resources from generating funds: Voluntary income 2 51,204 Activities for generating funds 3 6,181 Total incoming resources 57,385 Resources expended Purchases 1,970 Benefits Advisor & Befriending 4 6,036 Establishment costs 22,569 Accountancy fees 385 Legal and professional fees 4,416 Other office expenses 2,048 Kit 15,612 Presentation & Awards 559 Fee Collection Cost 300 Other Support Costs 332 Total resources expended 54,227 Net incoming resources before other recognised gains and losses 3,158 Other recognised gains and losses Other gains 9,247 Net movement in funds 12,405 Total funds brought forward - Total funds carried forward 12,405 |
Period ended Total £ 51,204 6,181 |
|---|---|
| 57,385 | |
| 1,970 6,036 22,569 385 4,416 2,048 15,612 559 300 332 |
|
| 54,227 | |
| 3,158 9,247 |
|
| 12,405 - |
|
| 12,405 |
The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 6 to 9 form an integral part of these financial statements.
Lydney Town AFC Youth
Balance sheet as at 31 March 2023
| Notes Un Resticted £ Tangible assets Current assets Debtors 5 6 1,809 2,260 Cash at bank and in hand 8,719 Creditors: amounts falling 10,979 Amounts falling due within 1 Year 12 (385) Net current assets 10,594 Net assets 12,403 Funds Restricted income funds 8 Unrestricted income funds Total funds |
£ £ Restricted £ Total Funds £ - - 1,809 2,260 - 8,719 - 10,979 - (385) - 10,594 - 12,403 - 12,405 12,405 |
|---|---|
The financial statements were approved by the trustees on 9 November 2023 and signed on its behalf by
Jamie Cooke Trustee
The notes on pages 6 to 9 form an integral part of these financial statements.
Lydney Town AFC Youth
Notes to financial statements for the year ended 31 March 2023
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
1.1. Basis of accounting
The financial statements of the charitable company, which is a public benefit entity under FRS102, have bee prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities Statement of Recommended Practices 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'. The financial statements have been prepared under historical cost convention.
1.2. Cashflow
The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small charity.
1.3. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Income from the charity shop is included in the year in which it is receivable.
1.4. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Lydney Town AFC Youth
Notes to financial statements
for the year ended 31 March 2023
1.5. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
| Fixtures, fittings and equipment - 15% Reducing Balance Motor vehicles - 25% straight line Voluntary income Unrestricted £ Donations 4,512 Sponsorship 8,790 Subscriptions 37,902 51,204 |
Period ended £ 4,512 8,790 37,902 |
|---|---|
| 51,204 |
2. Voluntary income
3. Activities for generating funds
| Activities for generating funds | |
|---|---|
| Unrestricted funds £ Fundraising 4,621 Other Income 1,560 6,181 |
Period ended Total £ 4,621 1,560 |
| 6,181 |
Lydney Town AFC Youth
Notes to financial statements for the year ended 31 March 2023
4. Employees
| Employment costs Wages and salaries Other costs No employee received emoluments of more than £60,000 (2022 : None). |
Period ended £ 3,507 2,529 |
|---|---|
| 6,036 | |
Number of employees
| 5. Tangible fixed assets Fixtures, fittings and Cost equipment £ Additions 1,795 At 1 April 2022 and At 31 March 2023 1,795 Net book value At 31 March 2023 1,795 |
Period ended Motor vehicles £ Total £ 14 1,809 14 1,809 14 1,809 |
|---|---|
6. Debtors
| £ | |
|---|---|
| Other debtors | 2,260 |
7. Creditors: amounts falling due within one year
£
Accruals and deferred income
385
Lydney Town AFC Youth
Notes to financial statements
for the year ended 31 March 2023
8. Analysis of net assets between funds
| Analysis of net assets between funds | |||||
|---|---|---|---|---|---|
| Unrestricted | Total | ||||
| funds | funds | ||||
| £ | £ | ||||
| Fund balances at 31 March 2023 as represented by: | |||||
| Tangible fixed assets | 1,809 | 1,809 | |||
| Current assets | 10,979 | 10,979 | |||
| Current liabilities | (385) | (385) |
|||
| 12,403 | 12,403 | ||||
| Unrestricted funds | At | At | |||
| 1st April | 2022 | Incoming | Outgoing | Gains an3d1st | March 2023 |
| 2022 | resources | resources | losses | 2023 | |
| £ | £ | £ | £ | £ | |
| Main Acttivties | - | 57,385 | (54,227) | 9,247 |
12,405 |
9. Unrestricted funds
Purposes of unrestricted funds
Funds are used in the provision of the services offered by the Charity.
Lydney Town AFC Youth
The following pages do not form part of the statutory accounts.
Lydney Town AFC Youth
Detailed statement of financial activities
For the year ended 31 March 2023
| Incoming resources Incoming resources from generating funds: Voluntary income Donations Sponsorship Subscriptions Activities for generating funds Fundraising Other Income Total incoming resources from generating funds Total incoming resources Resources expended Costs of generating funds: Subscriptions Match Officials Courses Rent Pitch Fees Repairs & maint. Trianing Equipment Insurance Kit Affiliation Fee & Fines Admin & Computer Costs Presentation & Awards Fee Collection Cost Other Support Costs Activity 1 Tea Huts Purchases Tea Hut Wages Tea Hut Repairs |
Period ended £ £ 4,512 8,790 37,902 51,204 4,621 1,560 6,181 57,385 57,385 2,512 2,529 10,511 5,614 750 3,973 932 15,612 4,416 2,048 559 300 332 50,088 1,970 995 789 3,754 |
|---|---|
Lydney Town AFC Youth
Detailed statement of financial activities
For the year ended 31 March 2023
Total cost of generating voluntary income 53,842 Fundraising trading: cost of goods sold and other costs Total costs of generating funds 53,842
Lydney Town AFC Youth
Detailed statement of financial activities
For the year ended 31 March 2023
Period ended £
Charitable activities
Activities undertaken directly
Net incoming/(outgoing) resources for the year
3,543