REGISTERED CHARITY NUMBER: 520073
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
EGERTON YOUTH CLUB
Connaughton & Co 2nd Floor, Boulton House 17-21 Chorlton Street Manchester M1 3HY
EGERTON YOUTH CLUB
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2024
| 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 | 13 |
| Detailed Statement of Financial Activities | 14 |
EGERTON YOUTH CLUB
REPORT OF THE TRUSTEES for the Year Ended 31 March 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective of the charity is to maintain the land and buildings owned by the charity in order that they can be used by the youth of Knutsford and the surrounding area to pursue leisure time activities.
Public benefit
The trustees have given due consideration to the Charity Commissions published guidance on the Public Benefit requirement under the Charities Act 2011 and believe the activities noted above further the charity's purposes for the public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity rents out the facilities for use by various organisations including Egerton Football Club, a related charity who aims are to provide or assist in the provision of facilities in the interest of social, recreation and other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.
FINANCIAL REVIEW
Financial position
The charity's income and expenditure is shown in the accompanying accounting statements.
Reserves policy
The charity's trustees position on holding reserves is that the charity will hold sufficient reserves to enable the charity to continue to provide facilities in order to fulfill the charity's objectives.
Going concern
There are no material uncertainties about the charity's ability to continue as a going concern.
FUTURE PLANS
The charity plans to continue to hold and improve the land and facilities for the benefit of the young people of Knutsford and the surrounding area.
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.
Recruitment and appointment of new trustees
The trust deed provides that the power of appointing new trustees is vested in the trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
520073
Page 1
EGERTON YOUTH CLUB
REPORT OF THE TRUSTEES for the Year Ended 31 March 2024
Principal address Mereheath Lane Knutsford Cheshire WA16 6SL
Trustees
D R Dallimore T J O'Donnell Mrs E L Naylor
Independent Examiner
Vincent Connaughton 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, 1 Redheughs Avenue, Edinburgh, EH12 9JN.
31/03/2025
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
T J O'Donnell (Mar 31, 2025 11:06 GMT+1)
........................................................................
T J O'Donnell - Trustee
Page 2
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 2024.
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 requirements 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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
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.
Connaughton & Co
Connaughton & Co (Mar 31, 2025 11:08 GMT+1) Vincent Connaughton
Connaughton & Co 2nd Floor, Boulton House 17-21 Chorlton Street Manchester M1 3HY 31/03/2025 Date: .............................................
Page 3
EGERTON YOUTH CLUB
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Total EXPENDITURE ON Raising funds Charitable activities Football Other Other Total NET INCOME/(EXPENDITURE) Transfers between funds 16 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ - 33,685 252,494 286,179 297,428 2,836 - - 300,264 (14,085) (22,000) (36,085) 1,207,123 1,171,038 |
Restricted fund £ 10,000 - - 10,000 - - - - - 10,000 22,000 32,000 12,000 44,000 |
31.3.24 Total funds £ 10,000 33,685 252,494 296,179 297,428 2,836 - - 300,264 (4,085) - (4,085) 1,219,123 1,215,038 |
31.3.23 Total funds £ 107,776 16,991 220,106 344,873 251,969 - 361 2,200 254,530 90,343 - 90,343 1,128,780 1,219,123 |
|---|---|---|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 4
EGERTON YOUTH CLUB
STATEMENT OF FINANCIAL POSITION 31 March 2024
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Stocks 10 Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 13 NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 1,693,721 600 34,822 21,119 56,541 (94,656) (38,115) 1,655,606 (484,568) 1,171,038 |
Restricted fund £ - - - 44,000 44,000 - 44,000 44,000 - 44,000 |
31.3.24 Total funds £ 1,693,721 600 34,822 65,119 100,541 (94,656) 5,885 1,699,606 (484,568) 1,215,038 1,171,038 44,000 1,215,038 |
31.3.23 Total funds £ 1,735,170 600 43,875 57,963 102,438 (94,162) 8,276 1,743,446 (524,323) 1,219,123 1,207,123 12,000 1,219,123 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 31/03/2025
T J O'Donnell (Mar 31, 2025 11:06 GMT+1)
.............................................
T J O'Donnell - Trustee
The notes form part of these financial statements
Page 5
EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost 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
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 of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
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 they relate.
continued...
Page 6
EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
2. OTHER TRADING ACTIVITIES
----- Start of picture text -----
||||
|---|---|---|
|31.3.24|31.3.23|
|£|£|
|Cafe income|33,685|16,991|
|3.|INVESTMENT INCOME|
|31.3.24|31.3.23|
|£|£|
|Ground & hall hire|235,694|205,136|
|House rental|16,800|14,970|
|252,494|220,106|
|4.|INDEPENDENT EXAMINER'S REMUNERATION|
|31.3.24|31.3.23|
|£|£|
|Fees payable to the charity's Independent Examiner|
|for the independent examination of the charity's|
|financial statements|2,200|2,200|
|5.|TRUSTEES' REMUNERATION AND BENEFITS|
|31.3.24|31.3.23|
|£|£|
|Trustees' salaries|36,000|27,720|
|Trustees' pension contributions|2,083|644|
|38,083|28,364|
----- End of picture text -----
The salary paid to a trustee was for work undertaken for the charity, and was not remuneration for acting as a trustee.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Costs paid by 1 trustee on behalf of the charity have been reimbursed during the year amounting to £4,296.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
----- Start of picture text -----
||||
|---|---|---|
|31.3.24|31.3.23|
|Staff|7|6|
----- End of picture text -----
No employees received emoluments in excess of £60,000.
continued...
Page 7
EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Investment income Total EXPENDITURE ON Raising funds Charitable activities Other Other Total NET INCOME/(EXPENDITURE) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 500 16,991 220,106 237,597 251,969 361 2,200 254,530 (16,933) 95,276 78,343 1,128,780 1,207,123 |
Restricted fund £ 107,276 - - 107,276 - - - - 107,276 (95,276) 12,000 - 12,000 |
Total funds £ 107,776 16,991 220,106 344,873 251,969 361 2,200 254,530 90,343 - 90,343 1,128,780 1,219,123 |
|---|---|---|---|
8. MATERIAL ITEMS
During the year the charity received a donation from Egerton Football Club as a contribution to the purchase of a new 3G carpet amounting to £10,000 (2023 : £95,276) which is shown in the Statement of Financial Activities in the restricted fund.
continued...
Page 8
EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
9. TANGIBLE FIXED ASSETS
| COST At 1 April 2023 Additions Disposals At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year Eliminated on disposal At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 10. STOCKS 31.3.24 £ Stocks 600 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 £ Trade debtors 34,572 Prepayments 250 34,822 |
Freehold land & property £ 2,082,436 18,934 (10,000) 2,091,370 347,266 53,983 (3,600) 397,649 1,693,721 1,735,170 31.3.23 £ 600 31.3.23 £ 31,080 795 31,875 |
|---|---|
continued...
Page 9
EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.3.24 £ Bank loans and overdrafts (see note 14) 42,508 Trade creditors 35,331 Taxation and social security 6,041 Other creditors 10,776 94,656 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.24 £ Bank loans (see note 14) 484,568 14. LOANS An analysis of the maturity of loans is given below: 31.3.24 £ Amounts falling due within one year on demand: Bank loans 42,508 Amounts falling between one and two years: Bank loans - 1-2 years 44,899 Amounts falling due between two and five years: Bank loans - 2-5 years 167,293 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 272,376 15. SECURED DEBTS The following secured debts are included within creditors: 31.3.24 £ Bank loans 527,076 |
31.3.23 £ 41,001 34,976 2,443 15,742 94,162 31.3.23 £ 524,323 31.3.23 £ 41,001 44,231 156,049 324,043 31.3.23 £ 565,324 |
|---|---|
The bank loans are secured by a 1st legal charge over the assets of Egerton Youth Club.
continued...
Page 10
EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
16. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds 3G Carpet fund TOTAL FUNDS Net movement in funds, included in the above ar Unrestricted funds General fund Restricted funds 3G Carpet fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds 3G Carpet fund TOTAL FUNDS |
At 1.4.23 £ 1,207,123 12,000 1,219,123 e as follows: At 1.4.22 £ 1,128,780 - 1,128,780 |
Net movement in funds £ (14,085) 10,000 (4,085) Incoming resources £ 286,179 10,000 296,179 Net movement in funds £ (16,933) 107,276 90,343 |
Transfers between funds £ (22,000) 22,000 - Resources expended £ (300,264) - (300,264) Transfers between funds £ 95,276 (95,276) - |
At 31.3.24 £ 1,171,038 44,000 1,215,038 Movement in funds £ (14,085) 10,000 (4,085) At 31.3.23 £ 1,207,123 12,000 1,219,123 |
||
|---|---|---|---|---|---|---|
continued...
Page 11
EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 237,597 Restricted funds 3G Carpet fund 107,276 TOTAL FUNDS 344,873 A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.4.22 in funds £ £ Unrestricted funds General fund 1,128,780 (31,018) Restricted funds 3G Carpet fund - 117,276 TOTAL FUNDS 1,128,780 86,258 |
Resources expended £ (254,530) - (254,530) Transfers between funds £ 73,276 (73,276) - |
Movement in funds £ (16,933) 107,276 90,343 At 31.3.24 £ 1,171,038 44,000 1,215,038 |
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds 3G Carpet fund TOTAL FUNDS |
Incoming resources £ 523,776 117,276 641,052 |
Resources Movement expended in funds £ £ (554,794) (31,018) - 117,276 (554,794) 86,258 |
|---|---|---|
Transfers between funds
The charity has transferred £22,000 between the general and restricted fund to match the contribution made by Egerton Football Club, a related charity, towards the estimated purchase cost of a new 3G pitch when the current one needs to be replaced in an estimated 8 years time.
continued...
Page 12
EGERTON YOUTH CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
17. RELATED PARTY DISCLOSURES
During the year the charity received a donation and received rental income from Egerton Football Club a charity related to Egerton Youth Club due to having some common trustees. The donation is included in note 8. to the financial statement. Rental income amounted to £87,000 (2023: £80,000).
During the year the charity paid wages amounting to £2,349 to relatives of the trustees.
Page 13
EGERTON YOUTH CLUB
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2024
| 31.3.24 | 31.3.23 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Contribution to 3G carpet | 10,000 | 107,776 |
| Other trading activities | ||
| Cafe income | 33,685 | 16,991 |
| Investment income | ||
| Ground & hall hire | 235,694 | 205,136 |
| House rental | 16,800 | 14,970 |
| 252,494 | 220,106 | |
| Total incoming resources | 296,179 | 344,873 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Trustees' salaries | 36,000 | 27,720 |
| Trustees' pension contributions | 2,083 | 644 |
| Wages | 17,273 | 11,420 |
| Land rent | 3,420 | 3,420 |
| Rates | - | 315 |
| Insurance | 14,498 | 11,950 |
| Heat, light & water | 37,820 | 34,355 |
| Telephone | 1,411 | 933 |
| Printing, postage, stationery & advertising | 194 | 209 |
| Cafe costs | 19,272 | 10,559 |
| Licences | 903 | 556 |
| Referee fees | 100 | - |
| Unrecovered VAT | 10,364 | 25,560 |
| Miscellaneous purchases | 219 | 63 |
| Maintenance & repairs | 47,286 | 38,613 |
| Legal & professional | 4,628 | 12,158 |
| Depreciation of tangible fixed assets | 53,983 | 53,983 |
| Profit on sale of tangible fixed assets | 6,400 | (9,961) |
| Bank interest | 41,574 | 29,472 |
| Support costs | 297,428 | 251,969 |
| Finance | ||
| Bank charges | 636 | 361 |
| Governance costs | ||
| Independent Examiners Fees | 2,200 | 2,200 |
| Total resources expended | 300,264 | 254,530 |
| Net (expenditure)/income | (4,085) | 90,343 |
This page does not form part of the statutory financial statements
Page 14