IRCHESTER SPORTS ASSOCIATION
CHARITY NUMBER: 268855
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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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 2023
Contents
| 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 2023
Chairman Mr John Maguire Vice-Chairman Mr Trevor Cole Treasurer Mr Mark Nice Secretary Ms Sarah Richardson Charity Number 268855 Registered Office The Sports Field Alfred Street Irchester Northants NN29 7DR Accountants 3NT Ltd 38 Arden Road Desborough Kettering Northants NN14 2WJ
Page 1
Irchester Sports Association
Trustees’ Report For The Year Ended 31 March 2023
The Trustees present their report and the financial statements for the year ended 31 March 2023.
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 £9,254. As at 31st March 2023 the Association had £34,255 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 2022.
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 17th May 2023 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 2023
We report on the accounts of the Association for the year ended 31st March 2023, 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 2022 (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:
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Which gives us reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2022 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2022 Act have not been met; or
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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 and Expenditure Account For The Year Ended 31 March 2023
| 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 Closing stock - finished goods GROSS PROFIT Administrative Expenses Employers pensions - defined contributions scheme Rates Light and heat Water rates Cleaning materials & sanitary disposal Bands & entertainment Sky TV and BT Sport 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 |
2023 £ £ 208,552 20,075 2,707 1,260 63 232,657 6,100 99,884 55,839 (6,247 ) (155,576 ) 77,081 791 509 15,866 1,672 4,748 2,170 6,078 10,518 161 4,972 3,109 3,195 1,938 457 406 2,586 2,115 820 1,944 3,339 1,606 1,163 (70,163 ) 1,042 |
2023 £ £ 208,552 20,075 2,707 1,260 63 232,657 6,100 99,884 55,839 (6,247 ) (155,576 ) 77,081 791 509 15,866 1,672 4,748 2,170 6,078 10,518 161 4,972 3,109 3,195 1,938 457 406 2,586 2,115 820 1,944 3,339 1,606 1,163 (70,163 ) 1,042 |
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 ...CONTINUED |
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 ...CONTINUED |
|---|---|---|---|---|
| 232,657 (155,576 ) |
178,604 (143,245 ) |
|||
| 791 509 15,866 1,672 4,748 2,170 6,078 10,518 161 4,972 3,109 3,195 1,938 457 406 2,586 2,115 820 1,944 3,339 1,606 1,163 |
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 |
|||
| 77,081 (70,163 ) |
35,359 (59,622 ) |
|||
| 1,042 | 1,424 | |||
...CONTINUED |
Page 4
Irchester Sports Association Trading Profit and Loss Account (continued) For The Year Ended 31 March 2023
| Raffle money Gifts and donations Other coronavirus grant income OPERATING PROFIT/(LOSS) Loss on disposal of tangible fixed assets PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
294 1,000 - |
2,336 |
1,371 350 13,078 |
16,223 |
|---|---|---|---|---|
| - | (157) |
|||
| 9,254 - |
(8,040) (157) |
|||
| 9,254 | (8,197 ) |
Page 4a
Irchester Sports Association Balance Sheet As at 31 March 2023
| 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 |
2023 £ £ 168,438 168,438 6,247 2,457 34,255 42,959 (11,689 ) 31,270 199,708 199,708 199,708 |
2023 £ £ 168,438 168,438 6,247 2,457 34,255 42,959 (11,689 ) 31,270 199,708 199,708 199,708 |
2022 £ £ 171,469 171,469 6,100 3,321 28,498 37,919 (18,934 ) 18,985 190,454 190,454 190,454 |
2022 £ £ 171,469 171,469 6,100 3,321 28,498 37,919 (18,934 ) 18,985 190,454 190,454 190,454 |
|---|---|---|---|---|
| 168,438 31,270 |
171,469 18,985 |
|||
| 42,959 (11,689 ) |
37,919 (18,934 ) |
|||
| 199,708 | 190,454 | |||
| 199,708 | 190,454 | |||
| 199,708 | 190,454 |
.
The financial statements were approved by the Committee on 17 May 2023 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 2023
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 2022.
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 2% Reducing Balance Fixtures, Fittings & Equipment 25% 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
| Irchester United Football Club Irchester Cricket Club Skittles Teams Cribbage Teams Pool Teams Darts Team |
2023 £ 690 750 - 315 831 2,586 |
2022 £ 1000 320 430 - 295 420 |
|---|---|---|
| 2,465 |
3. Tangible Assets
| Cost As at 1 April 2022 Additions As at 31 March 2023 Depreciation As at 1 April 2022 Provided during the period As at 31 March 2023 Net Book Value As at 31 March 2023 As at 1 April 2022 . Stocks Finished goods |
Freehold Property £ 235,168 - |
Freehold Property £ 235,168 - |
Fixtures, Fittings & Equipment £ 84,330 1,915 |
Total £ 319,498 1,915 |
|---|---|---|---|---|
| 235,168 | 86,245 | 321,413 | ||
| 68,209 3,340 |
79,820 1,606 |
148,029 4,946 |
||
| 71,549 | 81,426 | 152,975 | ||
| 163,619 | 4,819 | 168,438 | ||
| 166,959 | 4,510 | 171,469 | ||
| 2023 £ 6,247 6,247 |
2022 £ 6,100 |
|||
| 6,100 |
4. Stocks
Page 6
Irchester Sports Association Notes to the Financial Statements (continued) For The Year Ended 31 March 2023
5. Debtors
| . Debtors | ||
|---|---|---|
| Due within one year Prepayments and accrued income Other debtors . Creditors: Amounts Falling Due Within One Year Trade creditors Other taxes and social security VAT Net wages Pension contributions Accruals and deferred income |
2023 £ 2,457 - 2,457 2023 £ 6,482 888 3,032 - (9 ) 1,296 11,689 |
2022 £ 2,321 1,000 |
| 3,321 | ||
| 2022 £ 13,218 1,410 1,448 1,495 165 1,198 |
||
| 18,934 |
6. Creditors: Amounts Falling Due Within One Year
Page 7