2022-03-31-accounts

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IRCHESTER SPORTS ASSOCIATION

CHARITY NUMBER: 268855

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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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 2022

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 2022

Chairman

Vice-Chairman Treasurer Secretary Charity Number Registered Office

Accountants

Bankers

Mr John Maguire Mr Trevor Cole Mr Mark Nice Ms Sarah Richardson

268855

The Sports Field Alfred Street Irchester Northants NN29 7DR

3NT Ltd 38 Arden Road Desborough Kettering Northants NN14 2WJ

The Co-Operative Bank Head Office 1 Ballon Street Manchester Lancashire M60 4EP

Page 1

Irchester Sports Association

Trustees’ Report For The Year Ended 31 March 2022

The Trustees present their report and financial statements for the year ended 31st March 2022.

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 expenditure exceeded income by £8,197. As at 31st March 2022 the Association had £26,609 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:

Select suitable accounting policies and then apply them consistently;
Observe the method and principles of the Charities SORP;
Make judgments and accounting estimates that are reasonable and prudent;
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;
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 24th May 2022 and signed on it's behalf by

Mr John Maguire Mr Mark Nice Chairman Treasurer

Page 2

Irchester Sports Association Accountant's Report

For The Year Ended 31 March 2022

We report on the accounts of the Association for the year ended 31st March 2022, 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:

Examine the accounts under section 145 of the Charities Act,
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
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:

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
To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

We have not been instructed to carry out an audit of the accounts of Irchester Sports Association . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

Signed

Laurence Denton

3NT Ltd 38 Arden Road Desborough Kettering Northants NN14 2WJ

Page 3

Irchester Sports Association Income & Expenditure Account For The Year Ended 31 March 2022

2022 £ £ 159,034 17,315 1,535 607 113 178,604 2,946 85,107 61,292 (6,100 ) (143,245 ) 35,359 798 382 11,485 1,078 4,277 1,630 4,903 7,100 264 6,034 1,210 5,310 1,807 97 706 2,465 2,115 628 964 3,407 1,503 1,459 (59,622 ) 1,424 1,371	2022 £ £ 159,034 17,315 1,535 607 113 178,604 2,946 85,107 61,292 (6,100 ) (143,245 ) 35,359 798 382 11,485 1,078 4,277 1,630 4,903 7,100 264 6,034 1,210 5,310 1,807 97 706 2,465 2,115 628 964 3,407 1,503 1,459 (59,622 ) 1,424 1,371	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 - ...CONTINUED	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 - ...CONTINUED
	178,604 (143,245 )		62,607 (64,183 )
798 382 11,485 1,078 4,277 1,630 4,903 7,100 264 6,034 1,210 5,310 1,807 97 706 2,465 2,115 628 964 3,407 1,503 1,459		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
	35,359 (59,622 )		(1,576) (36,718 )
1,424 1,371		238 -
			...CONTINUED

Page 4

Irchester Sports Association Income & Expenditure Account (continued) For The Year Ended 31 March 2022

350 - 13,078	16,223	400 17,999 25,997	44,634
(157)		-
	(8,040) (157)		6,340 -

	(8,197 )		6,340

Page 4a

Irchester Sports Association Balance Sheet As at 31 March 2022	Irchester Sports Association Balance Sheet As at 31 March 2022	Irchester Sports Association Balance Sheet As at 31 March 2022
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 .	2022 £ £ 171,469 171,469 6,100 3,321 28,498 37,919 (18,934 ) 18,985 190,454 190,454 190,454		2021 £ £ 175,745 175,745 2,946 4,926 15,615 23,487 (581 ) 22,906 198,651 198,651 198,651
		171,469 18,985
	37,919 (18,934 )		23,487 (581 )

		190,454
		190,454
		190,454

The financial statements were approved by the Committee on 24 May 2022 and were signed on its behalf by:

Mr John Maguire Mr Mark Nice Chairman Treasurer

Page 5

Irchester Sports Association Notes to the Financial Statements

For The Year Ended 31 March 2022

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 Property

Fixtures, Fittings & Equipment

2% Reducing Balance

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

. Team Expenses
Irchester United Football Club Irchester Cricket Club Skittles Teams Cribbage Teams Pool Teams Darts Teams . Tangible Assets Cost As at 1 April 2021 Additions Disposals As at 31 March 2022 Depreciation As at 1 April 2021 Provided during the period Disposals As at 31 March 2022 Net Book Value As at 31 March 2022 As at 1 April 2021	Freehold Property £ 235,168 - -	2022 £ 1,000 320 430 - 295 420 2,465 Fixtures, Fittings & Equipment £ 84,534 791 (995 )	2021 £ (70) 60 - - - -
			(10)
			Total £ 319,702 791 (995 )
	235,168	84,330	319,498
	64,802 3,407 -	79,155 1,502 (837 )	143,957 4,909 (837 )
	68,209	79,820	148,029
	166,959	4,510	171,469
	170,366	5,379	175,745

3. Tangible Assets

Page 6

Irchester Sports Association Notes to the Financial Statements (continued) For The Year Ended 31 March 2022

4. Stocks

. Stocks
Stock - finished goods . Debtors Due within one year Prepayments and accrued income Other debtors Other taxes and social security . Creditors: Amounts Falling Due Within One Year Trade creditors Other taxes and social security VAT Net wages Pension contributions Accruals and deferred income	2022 £ 6,100 6,100 2022 £ 2,321 1,000 - 3,321 2022 £ 13,218 1,410 1,448 1,495 165 1,198 18,934	2021 £ 2,946
		2,946
		2021 £ 1,502 - 3,424
		4,926
		2021 £ (174 ) - 607 - 19 129
		581

5. Debtors

6. Creditors: Amounts Falling Due Within One Year

Page 7