## **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:
- 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 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:
- 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 2022 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2022 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 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