REGISTERED CHARITY NUMBER: 520073
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR EGERTON YOUTH CLUB
Connaughton & Co 2nd Floor, Boulton House 17-21 Chorlton Street Manchester MI 3HY
EGERTON YOUTH CLUB
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CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2021
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Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Statement of Financial Position 5
Notes to the Financial Statements 6 to 12
Detailed Statement of Financial Activities 13 to 14
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EGERTON YOUTH CLUB REPORT OF THE TRUSTEES for the Year Ended 31 March 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 2019).
FINANCIAL REVIEW
Financial position
Due to the Coronavirus pandemic, the organisation shows a deficit for the year amounting to £4,410 (2020 : £19,424 surplus).
The trustees expect to make small surpluses in future years so that the organisation can continue to meet its objectives to help and educate the youth of Knutsford through their leisure activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Egerton Boys Club was founded in 1946 by The Right Honourable Maurice, 4th Baron Egerton of Tatton.
The Trust was established by Deed in 1964 by the executors of Lord Egerton's will on the basis that the income shall be applied for the benefit of continuing to help and educate boys of Knutsford through their leisure time activities. In the 1980's the Charity Commission gave approval to allow girls to use the club and to change the name.
Egerton Youth Club is a purpose-built leisure and sports operation which provides facilities for the young people of Knutsford and the surrounding area to meet and take part in sport, leisure and social activities.
Related parties
There have been no related party transactions in the period 1 April 2020 to 31 March 2021.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 520073
Principal address Mereheath Lane Knutsford Cheshire
WAI6 6SL
Trustees
DR Dallimore M Sinah (resigned 28.10.20) MsA Stanyer (resigned 28.10.20) T J O'Donnell (appointed 28.10.20) Mrs G M Clifton (appointed 28.10.20) (resigned 28.1.21) Mrs E L Naylor (appointed 28.10.20)
Independent Examiner Vincent Connaughton ICAEW Connaughton & Co 2nd Floor, Boulton House 17-21 Chorlton Street Manchester M1 3HY
Advisers
The Trust's Bankers are Royal Bank of Scotland plc, Drummond House (BK) Branch, Customer Services Centre, Drummond House, | Redheughs Avenue, Edinburgh, EH12 9JN.
EGERTON YOUTH CLUB
REPORT OF THE TRUSTEES for the Year Ended 31 March 2021
Approved by order of the boardoftrustees onfee ler. and signed on its behalf by:
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EGERTON YOUTH CLUB
Independent examiner's report to the trustees of Egerton Youth Club
I report to the charity trustees on my examination of the accounts of Egerton Youth Club (the Trust) for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the Tequirements of the Charities Act 2011 (‘the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
T have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
I. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Vincent Connaughton ICAEW Connaughton & Co 2nd Floor, Boulton House 17-21 Chorlton Street Manchester M1 3HY Date: 14,7032022
EGERTON YOUTH CLUB
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2021
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|31.3.21|31.3.20|
|Unrestricted|Total|
|Notes|funds£|funds£|
|INCOME AND ENDOWMENTS FROM|
|Donations and|legacies|-|47,900|
|Charitable|activities|
|Football|5,000|20,000|
|Other trading|activities|2|56,577|12,872|
|Investment income|3|156,629|195,984|
|Total|218,206|276,756|
|EXPENDITURE ON|
|Raising funds|222,616|257,332|
|NET INCOME/(EXPENDITURE)|(4,410)|19,424|
|RECONCILIATION OF FUNDS|
|Total funds brought forward|1,143,866|1,124,442|
|TOTAL FUNDS CARRIED FORWARD|1,139,456|1,143,866|
|CONTINUING|OPERATIONS|
|All|income and expenditure has|arisen|from continuing|activities.|
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The notes form part of these financial statements
|
EGERTON YOUTH CLUB
STATEMENT OF FINANCIAL POSITION
31 March 2021
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|31.3.21|31.3.20|
|Unrestricted|Total|
|funds|funds|
|Notes|£|£|
|FIXED ASSETS|
|Tangible assets|8|1,691,515|1,735,637|
|CURRENT ASSETS|
|Stocks|9|-|400|
|Debtors|10|33,655|9,252|
|Cash|at bank|65,362|8,314|
|99,017|17,966|
|CREDITORS|
|Amounts|falling due within one year|11|(69,323)|(62,235)|
|NET CURRENT ASSETS|29,694|(44,269)|
|TOTAL ASSETS LESS CURRENT|
|LIABILITIES|1,721,209|1,691,368|
|CREDITORS|
|Amounts|falling due after more than one year|12|(581,753)|(547,502)|
|NET ASSETS|1,139,456|1,143,866|
|FUNDS|16|
|Unrestricted funds|1,139,456|1,143,866|
|TOTAL FUNDS|1,139,456|1,143,866|
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The financial statements were approved by the Board of Trustees and authorised for issue on costssssssssssssstssssssesasessesseeaees, and Were signed on its behalf by:
DR Dallimore - Trustee
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4ipZ5/2 Z.
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The notes form part of these financial statements
EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2021
ACCOUNTING POLICIES
Basis of preparing the financial statements The financial statements ofthe charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 2019)’, BinssbialIreland’ andReportingthe CharitiesStandardAct 102201].'TheTheFinancialfinancialReportingstatementsStandardhave beenapplicablepreparedin theunder UKtheandhistoricalRepubliccostof convention.
Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land & property - at varying rates on cost Plant and machinery - 25% on reducing balance
Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation The charity is exempt from tax on its charitable activities.
Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation ofthe nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element ofthe future payments is treated as a liability. Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits ; The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which theyrelate.
EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS- continued
for the Year Ended 31 March 2021
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|2.|OTHER TRADING ACTIVITIES|
|313.21|31.3.20|
|£|£|
|Café income|-|11,804|
|Vending commission|9|1,068|
|Government|grants|56,568|-|
|56,577|12,872|
|3.|INVESTMENT INCOME|
|31.3.21|31.3.20|
|£|£|
|Ground & hall hire|155,254|195,984|
|House rental|1,375|-|
|156,629|195,984|
|4,|TRUSTEES' REMUNERATION AND BENEFITS|
|31.3.21|31.3.20|
|£|£|
|Trustees’|salaries|10,406|-|
|Trustees' pension contributions|323|-|
|10,729|-|
|Trustees'|expenses|
|There were no|trustees’|expenses paid for the year ended 3]|March 2021|nor for the year ended 31|March 2020.|
|5.|STAFF COSTS|
|The average monthly number of|employees during the year was as follows:|
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|31.3.21|31.3.20|
|Staff|3|4|
|No employees received emoluments|in excess of £60,000.|
|6.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|
|Unrestricted|
|funds|
|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and legacies|47,900|
|Charitable|activities|
|Football|20,000|
|Other trading activities|12,872|
|Investment income|195,984|
|Total|276,756|
|EXPENDITURE ON|
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EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2021
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|6.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES-|continued|Unrestricted|
|funds|
|£|
|Raising funds|257,332|
|NET INCOME|19,424|
|RECONCILIATION OF FUNDS|
|Total funds brought forward|1,124,442|
|TOTAL FUNDS CARRIED FORWARD|1,143,866|
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- EXCEPTIONAL ITEMS
In recent years the charity has been exempt from producing accounts in accordance with the Charity SORP (FRS102). This resulted in no depreciation being charged on property improvement, instead a provision was made for dilapidations.
Due to the fact gross income rose above £250,000 in 2019, the charity now produce accounts in accordance with the Charity SORP (FRS102). Due to the Coronavirus pandemic, gross income went below the £250,000 threshold. However, this is expected to be an exceptional year.
- TANGIBLE FIXED ASSETS
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|Freehold|
|land &|Plant|and|
|property|machinery|Totals|
|£|£|£|
|COST|
|At|1|April 2020 and 31 March 2021|2,024,156|96,384|2,120,540|
|DEPRECIATION|
|At|1|April 2020|308,589|76,314|384,903|
|Charge for year|39,104|5,018|44,122|
|At 31|March 2021|347,693|81,332|429,025|
|NET BOOK VALUE|
|At31|March 2021|1,676,463|15,052|1,691,515|
|At 31|March 2020|1,715,567|20,070|1,735,637|
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Following the change in financial reporting position of the charity as explained in note 7, the property improvements have been reviewed and depreciation provided in the year to show a fair diminution in value of these assets since they where acquired.
EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS- continued
for the Year Ended 31 March 2021
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|9.|STOCKS|
|313.21|31.3.20|
|£|£|
|Stocks|-|400|
|10.|DEBTORS: AMOUNTS|FALLING DUE WITHIN ONE YEAR|
|313.21|31.3.20|
|£|£|
|Trade|debtors|33,655|5,392|
|Prepayments|and accrued income|-|3,860|
|33,655|9,252|
|11.|CREDITORS: AMOUNTS|FALLING|DUE WITHIN ONE YEAR|
|31.3.21|31.3.20|
|£|£|
|Bank|loans and|overdrafts|(see note|13)|43,948|36,461|
|Hire purchase|(see|note|14)|-|5,337|
|Trade creditors|10,687|8,632|
|Taxation and|social security|7,019|2,658|
|Other creditors|7,669|9,147|
|69,323|62,235|
|12.||CREDITORS: AMOUNTS FALLING|DUE AFTER MORE THAN ONE YEAR|
|313.21|31.3.20|
|£|£|
|Bank|loans|(see note|13)|581,753|539,051|
|Hire purchase|(see note|14)|-|8,451|
|581,753|547,502|
|13.|LOANS|
|An analysis of|the maturity of|loans|is given below:|
|313.21|313.20|
|£|£|
|Amounts|falling|due within one|year on demand:|
|Bank|loans|43,948|36,461|
|Amounts|falling|between one and two years:|
|Bank loans|-|1-2|years|47,873|37,885|
|Amounts|falling due between two and five years:|
|Bank loans - 2-5|years|154,764|124,791|
|Amounts|falling due in more than|five|years:|
|Repayable|by|instalments:|
|Bank loans more5|yr by instal|379,116|376,375|
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EGERTON YOUTH CLUB
for the Year Ended 31 March 2021
NOTES TO THE FINANCIAL STATEMENTS - continued
14. |LEASING AGREEMENTS
Minimum lease payments under hire purchase fall due as follows:
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|---|---|---|---|
|31.3.21|31.3.20|
|£|£|
|Net|obligations|repayable:|
|Within one year|-|5,337|
|Between one and five years|-|8,451|
|-|13,788|
|15.|SECURED DEBTS|
|The following secured|debts are included|within|creditors:|
|313.21|31.3.20|
|£|£|
|Bank|loans|625,701|575,512|
|Hire purchase|contracts|-|13,788|
|625,701|589,300|
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The bank loans are secured by a Ist legal charge over the assets of Egerton Youth Club.
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|16.|MOVEMENT IN FUNDS|Net|
|movement|At|
|At|1.4.20|in funds|313.21|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,143,866|(4,410)|1,139,456|
|TOTAL FUNDS|1,143,866|(4,410)|1,139,456|
|Net movement in funds,|included|in the above|are as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General fund|218,206|(222,616)|(4,410)|
|TOTAL FUNDS|218,206|(222,616)|(4,410)|
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EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2021
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
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|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.4.19|in|funds|31.3.20|
|£|£|£|
|Unrestricted funds|
|General fund|1,124,442|19,424|1,143,866|
|TOTAL FUNDS|1,124,442|19,424|1,143,866|
|Comparative net movement in funds,|included|in|the above|are as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|276,756|(257,332)|19,424|
|TOTAL FUNDS|276,756|(257,332)|19,424|
|A current year|12 months and prior year|12 months|combined position|is|as|follows:|
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|Net|
|movement|At|
|At|1.4.19|in|funds|31.3.21|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,124,442|15,014|1,139,456|
|TOTAL FUNDS|1,124,442|15,014|1,139,456|
|A current|year|12|months|and|prior|year|12|months|combined|net|movement|in|funds,|included|in|the|above|are|
|as|follows:|
|Incoming|Resources|Movement|
|Tesources|expended|in funds|
|£|£|£|
|Unrestricted funds|
|General fund|494,962|(479,948 )|15,014|
|TOTAL FUNDS|494,962|(479,948)|15,014|
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EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2021
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
EGERTON YOUTH CLUB
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
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|for|the Year Ended|31|March|2021|
|313.21|31.3.20|
|£|£|
|INCOME AND ENDOWMENTS|
|Donations and|legacies|
|Donations|-|47,900|
|Other trading|activities|
|Café|income|-|11,804|
|Vending commission|9|1,068|
|Government grants|56,568|-|
|56,577|12,872|
|Investment|income|
|Ground &|hall|hire|155,254|195,984|
|House rental|1,375|-|
|156,629|195,984|
|Charitable|activities|
|Grants|5,000|20,000|
|Total incoming|resources|218,206|276,756|
|EXPENDITURE|
|Raising donations and legacies|
|Trustees'|salaries|10,406|=|
|Trustees’ pension contributions|323|-|
|Wages|20,933|54,588|
|Land rent|3,168|3,168|
|Rates|802|-|
|Insurance|11,137|10,185|
|Heat,|light|&|water|20,333|40,472|
|Telephone|1,051|1,509|
|Printing,|postage,|stationery & advertising|210|381|
|Café costs|400|15,206|
|Licences|337|637|
|Pitch|renovation|5,565|790|
|Referee|fees|-|380|
|Bank charges|87|88|
|Website & computer costs|541|230|
|Unrecovered VAT|8,056|13,517|
|Miscellaneous|purchases|884|926|
|Maintenance & repairs|52,338|40,123|
|Legal & professional|21,067|3,759|
|Boards|706|946|
|Depreciation|of|tangible|fixed assets|44,122|45,794|
|Loss|on|sale|of|tangible|fixed assets|-|336|
|Bank|interest|19,058|23,515|
|Carried forward|221,524|256,550|
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This page does not form part of the statutory financial statements
EGERTON YOUTH CLUB
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2021
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|---|---|---|---|---|
|31.3.21|31.3.20|
|£|£|
|Raising donations and|legacies|
|Brought forward|221,524|256,550|
|Hire|purchase|1,092|782|
|222,616|257,332|
|Total|resources|expended|222,616|257,332|
|Net (expenditure)/income|(4,410)|19,424|
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This page does not form part of the statutory financial statements