REGISTERED CHARITY NUMBER: 1199388
Report of the Trustees and Unaudited Financial Statements
for the Year Ended 31 May 2024
for
Walkden Amateur Boxing Club
Boardman Conway 23A High Street Weaverham Northwich Cheshire CW8 3HA
Walkden Amateur Boxing Club
Contents of the Financial Statements for the Year Ended 31 May 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
Walkden Amateur Boxing Club
Report of the Trustees for the Year Ended 31 May 2024
The trustees present their report with the financial statements of the charity for the year ended 31 May 2024. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are primarily focused for the benefit of the inhabitants of Salford and the surrounding areas. The objectives of the charity are:
a) the promotion of community participation in healthy recreation by providing facilities and opportunities for amateur boxing and other activities capable of improving physical health.
b) to advance the education, including developing their mental, physical and moral capabilities through leisure time activities.
c) to act as a resource for people living in the area by providing advice and assistance, and organising programmes of physical, educational and other activities. The aim of this is to advance in life and help young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals. There are additional aims to advance education, relieve unemployment and reduce crime and anti-social behaviour.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity has provided boxing training for adults and children, as well as the provision of travel to competitions. This is not just for those taking part in the competition but also to encourage support for those taking part.
The charity has also the use of the facilities for fitness training for groups from local schools, as well as for children and young people who are not in education or training.
The charity has provided support for individuals with the provision of equipment, clothing and financial support to aid in their education or training.
FINANCIAL REVIEW
Reserves policy
The trustees have reviewed the reserves of the charity and have concluded that to allow the charity to be managed efficiently and to continue its current activities, unrestricted fund reserves should be not less than 6 months anticipated expenditure. On this basis the current requirement is £20,000 at 31 May 2024 (£20,000 in 2023). Actual free reserves at 31 May 2024 amounted to £33,283 (£18,713 in 2023), which the trustees consider is a satisfactory level.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisational structure
The charity is governed by the trustees who meet regularly throughout the year. The trustees have been selected for their experience and knowledge with regards the boxing club and within the surrounding community. All decisions are made by the trustees at their meetings. In planning the activities for the year the trustees have kept in mind the Charity Commissions guidelines on public benefit and the objectives of the Charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1199388
Page 1
Walkden Amateur Boxing Club
Report of the Trustees for the Year Ended 31 May 2024
Principal address
Ellesmere Shopping Centre 20/21 Bolton Road Worsley Manchester M28 3ZH
Trustees
Mrs C Gilley J Moore N Travis
Independent Examiner
Boardman Conway 23A High Street Weaverham Northwich Cheshire CW8 3HA
Approved by order of the board of trustees on 19 July 2024 and signed on its behalf by:
Mrs C Gilley - Trustee
Page 2
Independent Examiner's Report to the Trustees of Walkden Amateur Boxing Club
Independent examiner's report to the trustees of Walkden Amateur Boxing Club
I report to the charity trustees on my examination of the accounts of Walkden Amateur Boxing Club (the Trust) for the year ended 31 May 2024.
Responsibilities and basis of report
As the charity trustees of the 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the 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.
Paul Barrett
Boardman Conway 23A High Street Weaverham Northwich Cheshire CW8 3HA
31 July 2024
Page 3
Walkden Amateur Boxing Club
Statement of Financial Activities for the Year Ended 31 May 2024
| Period | |||
|---|---|---|---|
| 20.6.22 | |||
| Year Ended | to | ||
| 31.5.24 | 31.5.23 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 38,713 | 74,807 | |
| EXPENDITURE ON | |||
| Raising funds | 1,008 | 1,272 | |
| Charitable activities | |||
| Member support | 1,478 | 1,556 | |
| Coaching | 8,445 | 4,191 | |
| Equipment and clothing | 2,015 | 2,625 | |
| Other | 11,197 | 46,450 | |
| Total | 24,143 | 56,094 | |
| NET INCOME | 14,570 | 18,713 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 18,713 | - | |
| TOTAL FUNDS CARRIED FORWARD | 33,283 | 18,713 | |
The notes form part of these financial statements
Page 4
Walkden Amateur Boxing Club
Balance Sheet 31 May 2024
| 31.5.24 | 31.5.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 4 | 1,068 | - |
| Cash at bank | 36,745 | 33,009 | |
| CREDITORS | 37,813 | 33,009 | |
| Amounts falling due within one year | 5 | (4,530) | (14,296) |
| NET CURRENT ASSETS | 33,283 | 18,713 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 33,283 | 18,713 | |
| NET ASSETS | 33,283 | 18,713 | |
| FUNDS | 6 | ||
| Unrestricted funds | 33,283 | 18,713 | |
| TOTAL FUNDS | 33,283 | 18,713 | |
The financial statements were approved by the Board of Trustees and authorised for issue on 19 July 2024 and were signed on its behalf by:
J Moore - Trustee
The notes form part of these financial statements
Page 5
Walkden Amateur Boxing Club
Notes to the Financial Statements for the Year Ended 31 May 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. 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.
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.
Taxation
The charity is exempt from 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.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2024 nor for the period ended 31 May 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2024 nor for the period ended 31 May 2023.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 74,807 |
| EXPENDITURE ON | |
| Raising funds | 1,272 |
| Charitable activities | |
| Member support | 1,556 |
| Coaching | 4,191 |
| Equipment and clothing | 2,625 |
| Other | 46,450 |
continued...
Page 6
Walkden Amateur Boxing Club
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | ||||
|---|---|---|---|---|
| fund | ||||
| £ | ||||
| Total | 56,094 | |||
| NET INCOME | 18,713 | |||
| TOTAL FUNDS CARRIED FORWARD | 18,713 | |||
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| Prepayments | 31.5.24 £ 1,068 |
31.5.23 £ - |
||
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| Other creditors | 31.5.24 £ 4,530 |
31.5.23 £ 14,296 |
||
| 6. | MOVEMENT IN FUNDS | |||
| Unrestricted funds | At 1.6.23 £ |
Net movement in funds £ |
At 31.5.24 £ |
|
| General fund | 18,713 | 14,570 | 33,283 | |
| TOTAL FUNDS | 18,713 | 14,570 | 33,283 | |
| Net movement in funds, included in the above are as follows: | ||||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
|
| General fund | 38,713 | (24,143) | 14,570 | |
| TOTAL FUNDS | 38,713 | (24,143) | 14,570 | |
continued...
Page 7
Walkden Amateur Boxing Club
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
6. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| in funds | 31.5.23 | ||
| £ | £ | ||
| Unrestricted funds | |||
| General fund | 18,713 | 18,713 | |
| TOTAL FUNDS | 18,713 | 18,713 | |
| Comparative net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 74,807 | (56,094) | 18,713 |
| TOTAL FUNDS | 74,807 | (56,094) | 18,713 |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 May 2024.
Page 8
Walkden Amateur Boxing Club
Detailed Statement of Financial Activities for the Year Ended 31 May 2024
| Detailed Statement of Financial Activities for the Year Ended 31 May 2024 |
||
|---|---|---|
| Period | ||
| 20.6.22 | ||
| Year Ended | to | |
| 31.5.24 | 31.5.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Funds transferred | - | 16,857 |
| Donations | 20,480 | 24,483 |
| Subscriptions | 7,233 | 5,747 |
| Sponsorships | 10,000 | 25,000 |
| Fundraising events | 1,000 | 2,720 |
| 38,713 | 74,807 | |
| Total incoming resources | 38,713 | 74,807 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Fundraising event costs | 1,008 | 1,272 |
| Charitable activities | ||
| Club member support | 169 | 1,303 |
| Coaching | 8,445 | 4,191 |
| Club fees | 1,151 | 253 |
| Clothing and equipment | 2,015 | 2,625 |
| Support costs | 11,780 | 8,372 |
| Finance | ||
| Bank charges | 158 | 161 |
| Other | ||
| Insurance | 521 | 1,317 |
| Maintenance and cleaning | 569 | 846 |
| Utilities | 511 | 30,520 |
| Rates | 1,464 | 4,542 |
| Service charges | 7,262 | 8,224 |
| Accountancy | 870 | 840 |
| 11,197 | 46,289 | |
| Total resources expended | 24,143 | 56,094 |
| Net income | 14,570 | 18,713 |
This page does not form part of the statutory financial statements
Page 9