IRCHESTER SPORTS ASSOCIATION
CHARITY NUMBER: 268855
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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3NT Ltd
38 Arden Road
Desborough
Kettering
Northants
NN14 2WJ
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Irchester Sports Association Trustees' Report and Unaudited Financial Statements For The Year Ended 31 March 2021
| Contents | |
|---|---|
| Page | |
| Association Information | 1 |
| Trustees' Report | 2 |
| Accountant's Report | 3 |
| Income and Expenditure Account | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6—7 |
Irchester Sports Association Association Information For The Year Ended 31 March 2021
Chairman Mr John Maguire Vice-Chairman Mr Trevor Cole Treasurer Mr Mark Nice Secretary Mrs Sarah Richardson Charity Number 268855 Registered Office Alfred Street Irchester Northants NN29 7DR Accountants 3NT Ltd 38 Arden Road Desborough Kettering Northants NN14 2WJ Bankers The Co-Operative Bank Head Office 1 Ballon Street Manchester Lancashire M60 4EP
Irchester Sports Association
Directors' Report For The Year Ended 31 March 2021
The Trustees present their report and the financial statements for the year ended 31 March 2021.
Objects
The Associations' objects are to maintain and provide a recreation ground for the benefit of the inhabitants of the Parish of Irchester in Northamptonshire.
Results and reserves
During the year income exceeded expenditure by £6,340. As at 31st March 2021 the Association had £18,700 on deposit at the bank, as a result of this the Committee are fully satisfied that the Association has the retained reserves to fulfil any reasonable financial contingency within the next financial year.
Statement of Trustee's responsibilities.
Charity law requires the trustees to prepare financial statements for each financial year, which show a true and fair view of the state of affairs of the charity and its financial activities for that year. In preparing the 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 method and principles of the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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 2011. 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 irregularities.
Independent examiner
3NT Ltd are the appointed independent examiners and the trustees recommend that they remain in office until further notice.
This report was approved by the Committee on 17[th] August 2021 and signed on its behalf by
Mr John Maguire Mr Mark Nice Chairman Treasurer
Irchester Sports Association Accountant's Report For The Year Ended 31 March 2021
We report on the accounts of the Association for the year ended 31st March 2021, which comprise the income and expenditure account, the balance sheet and the related notes.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is our responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
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to state whether particular matters have come to our attention
Basis of independent examiner's statement
Our 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.
As a practising member of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
(1) which gives us reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Laurence Denton
3NT Ltd 38 Arden Road Desborough Kettering Northants NN14 2WJ
Irchester Sports Association Income & Expenditure Account For The Year Ended 31 March 2021
| TURNOVER Bar takings Fruit & Quiz machine takings Juke box takings Pool table takings Room hire and door money COST OF SALES Opening stock - finished goods Purchases Wages and salaries Employers NI Closing stock - finished goods GROSS (LOSS)/PROFIT Administrative Expenses Employers’ pensions - defined contributions scheme Rates Light and heat Water rates Cleaning materials & sanitary disposal Bands & entertainment Sky TV and BT Vision Hire and leasing of equipment Fuel & minibus expenses Ground maintenance Property maintenance Repairs, renewals and maintenance Insurance Printing, postage and stationery Telephone and fax Team expenses Accountancy fees Bank charges & interest Credit card charges Depreciation on freehold property Depreciation of fixtures and fittings Sundry expenses Other Operating Income Membership fees Raffle money Gifts and donations Job retention scheme income Other coronavirus grant income OPERATING PROFIT Loss on disposal of tangible fixed assets PROFIT FOR THE FINANCIAL YEAR |
2021 £ £ 54,118 7,941 463 6 79 62,607 7,119 25,733 34,277 - (2,946 ) (64,183 ) (1,576) 478 - 2,796 897 2,524 136 1,852 3,611 149 3,287 4,795 4,885 1,822 274 842 (10) 2,115 378 273 3,477 1,793 344 (36,718) 238 - 400 17,999 25,997 44,634 6,340 - - 6,340 |
2021 £ £ 54,118 7,941 463 6 79 62,607 7,119 25,733 34,277 - (2,946 ) (64,183 ) (1,576) 478 - 2,796 897 2,524 136 1,852 3,611 149 3,287 4,795 4,885 1,822 274 842 (10) 2,115 378 273 3,477 1,793 344 (36,718) 238 - 400 17,999 25,997 44,634 6,340 - - 6,340 |
2020 £ £ 208,920 40,934 2,646 212 1,949 254,661 5,973 108,009 65,457 237 (7,119 ) (172,557 ) 82,104 826 501 8,071 1,195 4,900 4,029 5,116 18,748 161 11,534 3,256 5,477 1,805 394 731 3,630 2,115 1,575 - 3,548 2,391 1,711 (81,714) 1,146 228 1,175 - - 2,549 2,939 (1,048) (1,048) 1,891 |
2020 £ £ 208,920 40,934 2,646 212 1,949 254,661 5,973 108,009 65,457 237 (7,119 ) (172,557 ) 82,104 826 501 8,071 1,195 4,900 4,029 5,116 18,748 161 11,534 3,256 5,477 1,805 394 731 3,630 2,115 1,575 - 3,548 2,391 1,711 (81,714) 1,146 228 1,175 - - 2,549 2,939 (1,048) (1,048) 1,891 |
|---|---|---|---|---|
| 62,607 (64,183 ) |
254,661 (172,557 ) |
|||
| 478 - 2,796 897 2,524 136 1,852 3,611 149 3,287 4,795 4,885 1,822 274 842 (10) 2,115 378 273 3,477 1,793 344 |
826 501 8,071 1,195 4,900 4,029 5,116 18,748 161 11,534 3,256 5,477 1,805 394 731 3,630 2,115 1,575 - 3,548 2,391 1,711 |
|||
| (1,576) (36,718) |
82,104 (81,714) |
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| 238 - 400 17,999 25,997 |
1,146 228 1,175 - - |
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44,634 |
2,549 |
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| - | (1,048) |
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| 6,340 - 6,340 |
2,939 (1,048) 1,891 |
|||
Irchester Sports Association Balance Sheet As at 31 March 2021
| Notes FIXED ASSETS Tangible Assets 3 CURRENT ASSETS Stocks 4 Debtors 5 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 6 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS RETAINED FUNDS |
2021 £ £ 175,745 175,745 2,946 4,926 15,615 23,487 (581) 22,906 198,651 198,651 198,651 |
2021 £ £ 175,745 175,745 2,946 4,926 15,615 23,487 (581) 22,906 198,651 198,651 198,651 |
2020 £ £ 181,015 181,015 7,119 2,903 19,036 29,058 (17,762) 11,296 192,311 192,311 192,311 |
2020 £ £ 181,015 181,015 7,119 2,903 19,036 29,058 (17,762) 11,296 192,311 192,311 192,311 |
|---|---|---|---|---|
| 175,745 22,906 |
181,015 11,296 |
|||
| 23,487 (581) |
29,058 (17,762) |
|||
| 198,651 | 192,311 | |||
| 198,651 | 192,311 | |||
| 198,651 | 192,311 |
The Financial statements were approved by the Committee on 17[th] August 2021 and signed on its behalf.
Mr John Maguire Mr Mark Nice Chairman Treasurer
.
Irchester Sports Association Notes to the Financial Statements For The Year Ended 31 March 2021
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention. The accounts are in accordance with applicable accounting standards, and comply with the Charities Act 2011.
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the Association, net of Value Added Tax and trade discounts.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Reducing Balance Fixtures & Fittings 25% Reducing Balance
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract-by-contract basis by recording turnover and related costs as contract activity progresses.
2. Team Expenses
| Irchester United Football Club Irchester Cricket Club Skittles Teams Cribbage Team Pool Teams Darts Teams |
2021 £ (70) 60 - - - - (10) |
2020 £ 1,300 410 765 200 465 490 |
|---|---|---|
| 3,630 |
3. Tangible Assets
| Cost As at 1 April 2020 As at 31 March 2021 Depreciation As at 1 April 2020 Provided during the period As at 31 March 2021 Net Book Value As at 31 March 2021 As at 1 April 2020 |
Freehold Property £ 235,168 |
Fixtures & Fittings £ 84,534 |
Total £ 319,702 |
|---|---|---|---|
| 235,168 | 84,534 | 319,702 | |
| 61,325 3,477 |
77,362 1,793 |
138,687 5,270 |
|
| 64,802 | 79,155 | 143,957 | |
| 170,366 | 5,379 | 175,745 | |
| 173,843 | 7,172 | 181,015 |
Irchester Sports Association Notes to the Financial Statements (continued) For The Year Ended 31 March 2021
4. Stocks
| 4. Stocks | ||
|---|---|---|
| Stock - finished goods 5. Debtors Due within one year Prepayments and accrued income Other taxes and social security 6. Creditors: Amounts Falling Due Within One Year Trade creditors VAT Pension contributions Accruals and deferred income |
2021 £ 2,946 2,946 2021 £ 1,502 3,424 4,926 2021 £ (174 ) 607 19 129 581 |
2020 £ 7,119 |
| 7,119 | ||
| 2020 £ 2,554 349 |
||
| 2,903 | ||
| 2020 £ 11,957 1,629 15 4,161 |
||
| 17,762 |