Trustees' Annual Report and Accounts for R1 Sports foundation.
Trustees' Annual Report for the Year Ended 30 June 2024.
Introduction
The Trustees of R1 Sports foundation present their annual report and financial statements for the year ended 30 June 2024. These reports comply with the charities governing document, the Charities Act 2011, and the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Objectives and Activities
Objectives
The primary objective of R1 Sports foundation is to promote community participation in healthy recreation by providing facilities for playing sports, in particular football.
Activities
To achieve our objectives, we have undertaken the following activities over the past year:
-
Organised weekly football matches and training sessions for various age groups.
-
Participated in local leagues and tournaments.
-
Conducted football clinics and camps during school holidays.
-
Hosted community events to promote sportsmanship and healthy living.
Achievements and Performance
Football Programs
-
Successfully held over 200 training sessions and 50 competitive matches.
-
Increased membership by 25%, with significant growth in our youth teams.
-
Two of our youth teams won their respective local league championships.
Community Engagement
-
Conducted open day events for all abilities to attend and play the sport.
-
Organised a summer football camp with participation from 150 children.
-
Partnered with local schools to promote physical education and sports.
Financial Review
Overview
The financial position of the charity remains static. We have managed our resources effectively to ensure that our programs continue to thrive.
Income
Total income for the year amounted to £0.00. The primary sources of income were: Membership fees: £0.00
Sponsorship and donations: £0,00 Community events and fundraising: £0,00 Grants: £0,000
Expenditure
Total expenditure for the year was £0,00.
The charity maintains a reserves policy to ensure financial stability and sustainability. As of 31 December 2023, the club's reserves stood at £0,000
.
Structure, Governance and Management
Governing Document
R1 Sports foundation is governed by a constitution adopted on 1 January 2024.
Trustees
The charity is managed by a board of trustees who meet quarterly to oversee the strategic direction and governance of the charity. The trustees serving during the year and since the year end were as follows:
Sameel Mahmood (Chair)
Hassan Elahi (Secretary)
Asim Hussain (Treasurer)
Plans for Future Periods
In the coming year, R1 Sports foundation aims to:
-
Expand our youth development program to include more age groups.
-
Increase community outreach and engagement through additional clinics and camps.
-
Seek new sponsorship opportunities to enhance our financial sustainability.
-
Upgrade our facilities to provide a better experience for our members.
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and regulations. The trustees are required to:
-
Select suitable accounting policies and then apply them consistently.
-
Observe the methods and principles in the Charities SORP.
-
Make judgements and estimates that are reasonable and prudent.
-
State whether applicable UK accounting standards have been followed, subject to any
-
Material departures disclosed and explained in the financial statements.
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
Independent Examiner's Report
Not included as we had received no funding.
Approval
This report was approved by the board of trustees on 1 January 2025 and signed on its behalf by:
Sameel Mahmood Chair of Trustees
Financial Statements for the YE 31 June 2024
Statement of Financial Activities
| Statement of Financial Activities | ||
|---|---|---|
| Income | £ | |
| Membership fees | £0.00 | |
| Sponsorship and donations | £0.00 | |
| Community events and fundraising | £0.00 | |
| Grants | £0.00 | |
| Income | £ | |
| Total Income | £0.00 | |
| Expenditure | ||
| £ | ||
| Coaching and staff costs | £0.00 | |
| Facility hire and maintenance | £0.00 | |
| Equipment and supplies | £0.00 | |
| Administrative expenses | £0.00 | |
| Total Expenditure | £0.00 |
| Net Income | 0.00 |
Balance Sheet as at 30 June 2024
| Assets | £ |
|---|---|
| Cash at bank and in hand | £0.00 |
| Debtors | £0.00 |
| Total Current Assets | £0.00 |
Liabilities £ Creditors: amounts falling due within one year £0.00
Net Current Assets £0.00
| Total Net Assets | 0,00 |
Funds £ Unrestricted funds £0.00 Total Funds £0.00
Notes to the Financial Statements
1. Accounting Policies
-
Basis of preparation: The financial statements have been prepared in accordance with the Charities SORP (FRS 102).
-
Income recognition: Income is recognized when the club is entitled to the funds.
-
Expenditure recognition: Liabilities are recognized as expenditure as soon as there is a legal or constructive obligation committing the club to that Expenditure.
2. Staff Costs
- The club used two part-time coaches during the year as volunteers.
3. Trustees' Remuneration and Expenses
- No trustee received any remuneration or reimbursement of expenses during this year.
This concludes the Trustees' Annual Report and Accounts for R1 Sports foundation for the year ended 30 June 2024