All Stars Youth Club Limited
Charity No. 281810
Company No. 01536561
Trustees' Report and Unaudited Accounts
31 March 2023
All Stars Youth Club Limited Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 4 to 4 |
| Statement of Financial Activities | 5 to 5 |
| Summary Income and Expenditure Account | 6 to 6 |
| Balance Sheet | 7 to 7 |
| Statement of Cash flows | 8 to 8 |
| Notes to the Accounts | 9 to 14 |
| Detailed Statement of Financial Activities | 15 |
Page 1
All Stars Youth Club Limited Trustees Annual Report
All Stars Youth Club Limited
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 01536561
Charity No. 281810
Registered Office
Suite E
1-3 Canfield Place London NW6 3BT
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
K. Akay A. Buckley A. Hijazi
Accountants
London Tax Consultancy Ltd Suite E 1-3 Canfield Place London NW6 3BT
OBJECTIVES AND ACTIVITIES
The objects of the Charity are to provide facilities for recreation or other leisure time occupations for young people in London generally, and those in the North Paddington area in particular, in the interest of social welfare so as to improve the conditions of life for those young people.
Many young people are lacking in self confidence and have a low self image, with no sense of belonging and worth; many of those who face problems have the added disadvantages of bad diet and being physically unfit.
The All Stars Youth Club aims to attract young people to join in fitness activities:- 1. To use sport as a bridge for young people in order to associate with those who are self confident, high achievers, ensuring that they intermingle and enhance each other. 2. To encourage young people, whatever their ability, to participate in the activities of the Club and become active members, teaching them skills and giving them a sense of worth. 3. To make them fully integrated with all sections of society and able to cope with all the challenges of modern life. 4. Encourage members to participate and take an active part in the running of the Club. 5. Increase awareness of the members' responsibilities and aspirations in the community. 6. Challenge and work to remove barriers which block young people's healthy development and growth.
Page 2
All Stars Youth Club Limited Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
We continue to secure further funding for projects aimed at continuing the expansion of our activities and services, including health and fitness activities, designed to help members and participants feel great, encourage healthy lifestyles, prevent disease and enjoy the benefits to their physical and mental well being.
New activities, such as spoken word and music workshops, drama workshops and group mentoring workshops, were well received, along with our family fitness classes and free school holiday boxing "Champs Camp".
We continue to carry out further internal refurbishment works within the building, aided by grant funding and donations.
FINANCIAL REVIEW
As with many charities we continue to face challenges brought on by the cost of living crisis, and being housed in a large, older building with poor insulation adds to the ever increasing utility bills. The poor condition of the building, which often leaks during heavy rain, is having an adverse affect on class attendance. We continually seek core cost funding to help mitigate the increasing outgoings.
PLANS FOR FUTURE PERIODS
The boiler for the building has been replaced, the main gym space heater has been repaired and Fundraising continues in order to raise money to complete the remaining refurbish works required, .Our focus is on rebuilding our membership and attendance for our adult KO Boxing sessions, and our paid female only boxing classes, our children and youth classes are well attended, and adding new services within the community in partnership with Westminster City Council and Everyone Active (Sport & Leisure Management Ltd). We are developing and growing our mentoring programmes in order to create a positive impact in young people’s lives, and aim to expand this work further to working with Schools, Colleges and Academies.
2024 is All Stars Golden Anniversary, a milestone, 50 years of positive service to the community, we have several events planned including a special Anniversary Action Boxing show, followed by our anniversary party and an outdoor open air boxing show, supported by Westminster City Council, to be held in the summer of 2024 at Paddington Recreation Ground.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities Statement of Recommended Practice for the Financial Reporting Standard for Smaller Entities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Page 3
All Stars Youth Club Limited
Trustees Annual Report
Governing Document
All Stars Youth Club Limited is a company limited by guarantee, not having a share capital, and is governed by its Memorandum and Articles of Association dated 30 December 1980. It is registered as a charity with the Charity Commission. Anyone over the age of 18 can become a member of the Company.
Appointment, induction & training of Trustees
All members are circulated with invitations to nominate trustees prior to the AGM. When considering co-opting trustees, the Board has regard to the requirement for any specialist skills required, particularly in the area of physical training. Any new trustees undergo an orientation day in order to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association and the decision making processes.
Organisation
The Charity can have up to 10 members in order to administer its affairs holding regular Committee meetings covering development, membership, finance and sporting related activities. The club is affiliated to the London Federation of Youth Clubs.
Risk management
The trustees have a risk management strategy which comprises:an annual review of the risks the charity may face;
the establishment of systems and procedures to mitigate those risks identified in the plan; and the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
K. Akay Trustee 31 March 2023
Page 4
All Stars Youth Club Limited Statement of Financial Activities
for the year ended 31 March 2023
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Total Expenditure on: Other 6 Total Net gains on investments Net (expenditure)/income Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2023 £ 127,497 71,779 |
Total funds 2023 £ 127,497 71,779 |
Total funds 2022 £ 151,149 71,921 |
|---|---|---|---|
| 199,276 211,931 |
199,276 211,931 |
223,070 200,194 |
|
| 211,931 - |
211,931 - |
200,194 - |
|
| (12,655) - |
(12,655) - |
22,876 - |
|
| (12,655) | (12,655) | 22,876 | |
| (12,655) 6,840 |
(12,655) 6,840 |
22,876 (16,036) |
|
| (5,815) | (5,815) | 6,840 |
Page 5
All Stars Youth Club Limited Summary Income and Expenditure Account for the year ended 31 March 2023
| Income Gross income for the year Expenditure Total expenditure for the year Net (expenditure)/income before tax for the year Net (expenditure )/income for the year |
2023 £ 199,276 199,276 211,931 211,931 (12,655) (12,655) |
2022 £ 223,070 |
|---|---|---|
| 223,070 | ||
| 200,194 | ||
| 200,194 | ||
| 22,876 | ||
| 22,876 |
Page 6
All Stars Youth Club Limited Balance Sheet
at 31 March 2023
| Company No. 01536561 Notes 2023 £ Fixed assets Tangible assets 8 - Current assets Cash at bank and in hand 20,472 20,472 Creditors:Amount falling due within one year 9 (1,900) Net current assets 18,572 Total assets less current liabilities 18,572 Creditors:Amounts falling due after more than one year 10 (24,387) Net (liabilities)/assets excluding pension asset or liability (5,815) Total net (liabilities)/assets (5,815) The funds of the charity Restricted funds 11 Unrestricted funds 11 General funds (5,815) (5,815) Reserves 11 Total funds (5,815) |
2022 £ - 40,099 |
|---|---|
| 40,099 - |
|
| 40,099 40,099 (33,259) |
|
| 6,840 | |
| 6,840 | |
| 6,840 | |
| 6,840 | |
| 6,840 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 31 March 2023
And signed on its behalf by:
K. Akay Trustee
31 March 2023
Page 7
All Stars Youth Club Limited Statement of Cash flows for the year ended 31 March 2023
| Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Net cash (used in)/provided by operating activities Net cash from investing activities Cash flows from financing activities Repayment of borrowings Net cash used in financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2023 £ (12,655) (12,655) - (6,972) (6,972) (19,627) 40,099 20,472 20,472 20,472 |
2022 £ 22,876 |
|---|---|---|
| 22,876 | ||
| - | ||
| (1,241) | ||
| (1,241) | ||
| 21,635 | ||
| 18,464 | ||
| 40,099 | ||
| 40,099 | ||
| 40,099 |
Page 8
All Stars Youth Club Limited Notes to the Accounts
for the year ended 31 March 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 9
All Stars Youth Club Limited Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 10
All Stars Youth Club Limited Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 11
All Stars Youth Club Limited
Notes to the Accounts
3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Charitable activities Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies 5 Income from charitable activities |
Unrestricted £ 31,544 95,953 127,497 Unrestricted £ 71,779 71,779 |
Unrestricted funds 2022 £ 151,149 71,921 223,070 200,194 200,194 22,876 22,876 22,876 (16,036) 6,840 Total 2023 £ 31,544 95,953 127,497 Total 2023 £ 71,779 71,779 |
Total funds 2022 £ 151,149 71,921 |
| 223,070 200,194 |
|||
| 200,194 | |||
| 22,876 | |||
| 22,876 | |||
| 22,876 (16,036) |
|||
| 6,840 | |||
| Total 2022 £ 48,758 102,391 |
|||
| 151,149 | |||
| Total 2022 £ 71,921 |
|||
| 71,921 |
Page 12
All Stars Youth Club Limited Notes to the Accounts
6 Other expenditure
| Premises costs Legal and professional costs 7 Staff costs No employee received emoluments in excess of £60,000. 8 Tangible fixed assets TFA 2 9 Creditors: amounts falling due within one year Other loans 10 Creditors: amounts falling due after more than one year Bank loans and overdrafts 11 Movement in funds At 1 April 2022 Restricted funds: Unrestricted funds: General funds 6,840 Total funds 6,840 |
Unrestricted £ 4,448 207,483 211,931 TFA 3 2023 £ 1,900 1,900 2023 £ 24,387 24,387 Incoming resources (including other gains/losses ) £ 199,276 199,276 |
Total 2023 £ 4,448 207,483 211,931 TFA 4 Resources expended £ (211,931) (211,931) |
Total 2022 £ 5,382 194,812 |
|---|---|---|---|
| 200,194 | |||
| Total 2022 £ - |
|||
| - | |||
| 2022 £ 33,259 |
|||
| 33,259 | |||
| At 31 March 2023 £ (5,815) |
|||
| (5,815) |
Page 13
All Stars Youth Club Limited Notes to the Accounts
12 Analysis of net assets between funds
| 12 Analysis of net assets between funds | |||
|---|---|---|---|
| Net current assets Creditors due in more than one year and provisions 13 Reconciliation of net debt Cash and cash equivalents Borrowings Bank loans Net debt |
Unrestricted funds £ 18,566 - 18,566 At 1 April 2022 £ |
Restricted funds £ 6 (24,387) (24,381) Cash flows £ |
Total £ 18,572 (24,387) |
| (5,815) | |||
| At 31 March 2023 £ |
|||
| 40,099 | (19,627) | 20,472 | |
| 40,099 - (33,259) (33,259) 6,840 |
(19,627) (1,900) 8,872 6,972 (12,655) |
20,472 (1,900) (24,387) |
|
| (26,287) | |||
| (5,815) |
14 Related party disclosures Controlling party
Page 14
All Stars Youth Club Limited Detailed Statement of Financial Activities
for the year ended 31 March 2023
| Income and endowments from: Donations and legacies Charitable activities Total income and endowments Expenditure on: Premises costs Light, heat and power Legal and professional costs Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2023 £ 31,544 95,953 127,497 71,779 71,779 199,276 4,448 4,448 207,483 207,483 211,931 211,931 - (12,655) (12,655) - (12,655) 6,840 (5,815) |
Total funds 2023 £ 31,544 95,953 127,497 71,779 71,779 199,276 4,448 4,448 207,483 207,483 211,931 211,931 - (12,655) (12,655) - (12,655) 6,840 (5,815) |
Total funds 2022 £ 48,758 102,391 |
|---|---|---|---|
| 151,149 | |||
| 71,921 | |||
| 71,921 | |||
| 223,070 5,382 |
|||
| 5,382 | |||
| 194,812 | |||
| 194,812 | |||
| 200,194 | |||
| 200,194 - |
|||
| 22,876 | |||
| 22,876 - |
|||
| 22,876 | |||
| (16,036) | |||
| 6,840 |
Page 15