Registèred number. 00429169 Charity number: 521947 LINDUM SPORTS ASSOCIATION LIMITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 "At856I&Z 27r2023 COklPANIES HOUSE A24 31
LINDUM SPORTS ASSOCIATION LIMITED CONTENTS Page Reference and admlnistratlve details of th¢ chwity. its trustees and advisers Trustees. report Independent auditors. report 8-11 Stateff*nt of finan¢lal adlvltl•s 12 Balance sh8•t 13 Notès to the finAnclal statemènts 14-25
LINDUM SPORTS ASSOCIATION UMITED REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COPAPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Trust••$ R J Bamlor(I E Wells-cole S Grocott AJMMattby J P Nevlove AFPerrin C P Hoskir6 Bmsmth . D E Taylor I C Jubbs lappointed 20 Juty 2022) Company reglst•red number 00429169 Charity registw•d number S21947 Rgglstered office St Gi* Avenue Lincolr¢ LwKolnshire LN2 4PE Company s•eretary J P No¥e Indep•nd•nt audhor Streets Audit LLP Charte Ac1n1ants & Statutory Auditor Tower House Lucy Tower Streel Lincoln Lincolnshire LN1 1XW Bankers Nati(1 We3tminster Bank PLC 225 High Street Lincoln LN2 IAZ Page 1
LINDUM SPORTS ASSOCIATION LIED TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees present their annual report together with the audited finanual slatements of the charrtatle company Lindum Sports ASSoa.0n Limtled for the perioJ 1 Apnl 2022 to 31 March 2023 The Trustees confirm that thè Annual Report and financial statements of the company comply with the currènt 5ts1utrJry requirements. the requirements of the ¢ompanls goveming do¢ument and the pmvisions of the Statement ol Recommended Practice ISORPI. applicable to charibes preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK anol Repu of Ireland IFRS 1021 leffecb.ve l January 2019} a5 amended. Since the charitable company qualrfies as small under secti 383. the $tralegic report required of medium and large companies under The Compans Act 2006 Istralegic Report and Directorfs ReFNtI Regulations 2013 is not required Obj¢tive5 and Activities a. POLICIES AND OBJECTIVES In setting obJ"ective5 and planning for actNitie$. the Tntstees have given due considerabM to general guidance published by the Charity Commission rdab.ng to wblic benefit. The prin¢ipal objed of the chantable cLwnpany 15 to ¥Je or a55iSt in woviding faulrfies foT the public benefit lor recreation or other leisure time oG¢upabon in or in wnnection wlh the City of Lincoln and elsewhe within the County of Lincolnshire. The facilities are made available to all regardless of rank. gender. religion or politics. usually by rneans of membership of associated clubs. Facilities include". Outdoor- Hockey, Cricket and general wtdoor sporting faclilies Indoor- Squash. Fitness Studio orvj scKial adi"b"e$ Affiltated clubs are.. Lindum CrÉ<et aub, Lindum Squash Cth and Lindum H¢xkey Club. Achievements and prfomunce a. KEY FINANCIAL PERFORIAAMCE INDICATORS The key finanaal perfrymance indicalw for the Trustees is generiThJ suffioent inc£ne lo maintain its charitsble aim5 and objectives. b. REVIEW OF ACTIvles Lincoln Minster School have a ten-yEar licence to occupy frorn July 2013 to use the sportiry facilities. DiscuSonS are well advanced with a to Lincoln Minster Sch1 being granted a tsventy year licence from July 2023 (with a ten year break clause either way). The Licence wlh Lindum Hockey Club wa5 conc1Jed in June 2021 ar during Ihe year under revbew a fresh Licen¢e was conclLKled with Lindum Crket Ckjb. Activity has as reported last year retLKneLI to pre pandemic levels. The Studtt) Room CtinueS to be a valuable source of Tevenue and during the ar under revw. arrangements for the Operati ol the Squash Club have been modified. The Squash Cb continues to operate under Ihe auspices of the Company. bul a considerable degree of avtonomy has been devc4ved to the Squash Club Committee. The DirectorsThrustees remain responsible and aCcntable for the operation of the Squash cb. Page 2
UNDUM SPORTS ASSOCIATION LIMITED TRusfEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023 The cost of liwng situab.on in partictjlar energy costs rnntlnue to present SignifnI thallenge5 for the financial operatjon of the Charitable Company. During the year under review new thanging rwm boilers were installed and these arg expect to effienGieS ar a beneficial impad on costs. Furthermore the Tnjslees have plans to instal LED lights around Ihe perimeter of Ihe AGP resulb.ng in cosl reductions. c. INVESTMENT POLICY AND PERFORMhl4CE The stated aim of the Chafltable Company is to invest any surplus in(xJme in thè continued rnaintenance of and improvernents to it5 property. The CompanWs do not allow investmenl in any other areas. Financial Teview . GOING CONCERN After m8kiThJ apprwate enquirie5. the Directorsrrrustees have a reasonable expectalion thal the charitsble company has adequate resources to continue in operaD"onal existence for the frye5eeable future. For this reason the DireCtOr5rUSteeS continue lo adopt the gcmng concem basis in preparing the financial stalements. b. RESERVES POLICY The Boar(l 1$ aware thai the cdItiOn ol the Clubhouse can onty deterioraie over ts'me. The Board has set 3$e a sinking fund for future dèvelopmènt of the clUbhSe and other faalits"es. With the help of Lottery Funding AgerneTrt with Sport England and the Grant Agreement with England Hockey. the Directorsllwstees are aware of their obliyations under this agreement to repface the AGP at the appropnate time and continue to sel aside such funds as are ne$sary to achieve this aim. The further aim of the board 15 to build up a fund of £30.01)O beiThJ abwt six months cost5 (les5 sinking funds and dedicated funds) as a reserve. Al 31 sl Marth 2023 the Charilable Company had total funds of £915,462. of which £693,534 related to fixed assets. c. PRINCIPAL FUNDING Income during the yEaT was some £242.249 from bar and catering rèr£ipts. renlal income, donaticffls and other small items. Expenditure was £248.309 giving rise lo a deficit 01 £6,060. Use of the Clubhouse as a fitness studio has seen some im{Vement due lo the relurtM5hment improved marketing undèrtaken to prcMole the facilitse5. Structure. govemanc• and marragement ¥. CONSTITUTION The charitable company is wistered as a memtws limrted liabilty company. The charitable company is constituied under a Memorandum of Awiatim and is a registered company number 429169. The charty number is 521947. The charitable cc4npany was Incorpcy and commence(l operatiS M 6FBbruary 1947. There hav¥ been no c*anges in the objectives since the last AGM. Page 3
LINDUM SPORTS ASSOCIATION UMITEO TRUSTEES. REPORT Icontinuedl FOR THE YEAR ENDED 31 MARGH 2023 b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The Charitable Company is gOd and managed by a Board of TteeS (Directors). elected andlor n(xminate¢J annually. rhe Artic5 of Associab"on alth4$ for 8 Ight) eleLted DirectcffsrUsteeS to be appointed (elected) by sharehol¢Jers at the Annual Meeting. The charitab Company under its Artrdes is able to offer a Board position to the constituent clubs to apwnt a member of their committeelboard as a Nominee DirectOrruStee and this wll be enshrined in their licence lo occupy. These DirectOtsru5iees we appcinted by ihe affilialed dub5 on an annual basis in a¢cordan¢e swth licences to occupy. A further 2 ltrnl DI¢10rsleeS can be C{pIe(l. The key rnanagement personnel a the Directorstrrustees are not remuneraled. e. POLICIES ADOPTED FOR THE INDUCTION AND TRhJNIYG OF TRUSTEES New DredorsKfru51ee5 are made aware of their responsibilrties for Ihe affairs of ihe charity. AI DireclorsThrustees arè kept aware of the umlates senl out by the Charity Commission vlthich is now made easier by the introduction ol electronicalty transmitted infomi8b"on. The DirecIorsrUSteeS place great ÈmaS1$ on the Directrxsrrrustees fulfill9 iheir duties, in particular.. •the duty to promote the Success of the Charitsbbe Company .the duty to exerc¢se independent judgement In the year of review Ihe imwrtance of aviidiNJ cmnicts of interest re-emktsised to *J Di¢t0rustree5. d. SUCCESSION The Elected D1Cto1v51ets$ ao all long ser¥ing. The Board is sab"sfied that all the Elected D1CtO nJstÈÈs have a ccmtribution to make lo the future ol the Charitable Comparsy. There are I) vacancies lor Elected DIrectorsrusteeS and the Directorsiffuslees are anXS to fill these vacancTres. Both from the point of view of Governance and operat15 fosh blfyxl, fresh tdeas and innovation • imprytant. . ORGANISATIONAL STRUCTURE AND DECISION MAKING The Charitsb Company ovms and maintains PToperty at the address shcrwn on page one. 11 has no other interesis. The Board is reskK)nsible for the day to day runniro ol the Associats"ons property. piayng field and club house. Responsit4lilies I( lèadership and rnanag8ment are diwded as fOltr. •Facilib-es .FinancelAudit .Govemance Facilitt•s: ResFKJnsibility for Facrfknes is deplo to one DireciornIeeS (the Facilities Director.) The Facilities Director is reSponsie for all aspects of facilities including overall Strategy and forward planning. developmènt, dmini5tration of the Lindum Sports Club ensuring that duthouse, thanging rc$. bar and meeting rooms are property maintaine(l and vthere possible improved and ènsuring that the playng surfaces are fit for the sports Page 4
LINDUIA SPORTS ASSOCIATION LIMrrED TRUSTEES. REPORT (ntinutl FOR THE YEAR ENDED 31 MARCH 2023 ayed and other uses as required. The Facil"eS Dir prwd#s a wriilen report to each Board Meeting for the purpose of providing colleagues th accountabblrty and a$surance. FinancelAudil and Governan are le(J and managed by 5utrK(Mnmrtlees each of which is chaired by an Elected D1wtOrste8. FInanCAudIt.. Made up frofr three dected directors. Chairman. Vice Chairman and Treasurer. The ¢ommittee is responsib lor ensvring that income and exnlIre are maintained in sufficiènt balance to ensure the conknnuefj viabilily of the Assotiatirm. Quartedy management accounts are produced at each board rneeting and compared as ¥arianGes from a lull Income ancl Expendilure budget deterj at the beglnniry of each r. Governance- This committee is made up sokly of elected difectors and chaired by the Company Secretary and is responsible lor revÈewing the overall govemance of the company. constibJb"onal mattets. cornpliance and creabon and operatson of the kcences to crtCUPy7ith the affilied ¢hJbs. Squash: This ccnmittee operates urthr a ¢OliiboratM agreement yitsing it autonomy to run U)è Squash sectK)n ol the f8tility. Tfre Minutes of the FInaelAdi1 Suiwnmittee and Ihe Goveman¢e Subcommittee are circulated to all 01ctOr5teS for the wipose of providing aCo)unbty and assurance. f. RISK MANAGEMENT All significant actiwties undertaken are subJeGt to a risk review by use of a fflanagement malrix {risk resister) an ongoirvJ basis. Major risks a those whth may have an effect on the ryerathonal perfmance ol staff and volunt8ets. and those affecbro Ihe members of the Associated Clubs. The major risk5 have been identified as: .Economic uncertaintyffinancial sustsinat¥lity •The eed for expenditure on the eslate .Loss of key people Changing habits and asF4rations of members and stak8lK)Iders of affiliated clubs •Oecisions outside the conlrol of the Company DirectorsNStees are of the eW thal prov¥Jed that the pmpvsed arrangements wtth LincolTr Minster School are suc5514yCclKIed, risk5 around ecrmmic uncertantyifinancial sustainability are 5ubstsnb.alty reduced. For a significant number of years an irnportant source of income has been from the provision of car parking for Visir$ to rhe Lincdn Christmas MarkeL The Lincokn Chrislmas Market 11 not take place in 2023. Risk Managemenl is all importsnt arKJ feature fr1 arKJ cenlre in the Long RarvJe Plan due to be completed in Ihe reasonabty near future. Cun•nt and firture peA¢ds . CURRENT *JID FUTURE DEVELOPIIENTS Major CAPEX in the future indude: .LED Ih1$ for the perimeter of the AGP .Repl8cement of the AGP .Further works on the roof of the Clubhole .RepIacemenVneWal of the perimeter fence Page 5
LINDUPI SPORTS ASSOCIATION UE0 TRUSTEES. REPORT leontinueill FOR THE YEAR ENDED 31 MARCH 2023 The DIrectonJSlees look lo ihe futu wilh cautious optimism and io InfOrng the hithelo mutually beneficial relatsonships wth Lincoln Minster S¢hool, Lindum Cricket Club. Lincdn Hockey Club and ColagueS wthin Lindurn Squash Clvb. shaders are assured that Trusteesf)irtetors *ryll Continue to lÈad and manage the Charitable Ccffipany vath all proper prudence and ensure that risks are entIfIed and eliminaled if at all possible. 11 risks nn01 be elimin8tèd the DirectorslFnJstees will ensure ihal the risks are carefulty managed. INFORMATION ON FUNDRAISING PRACTICES The 8oard is looking into revenue streams to give the Charitable Company bong iemi slability for capital to be spent on keeping infrastructure updated. This 711 indut1e collab)rab"c tmth the Affiliated Cbjbs on large events and much increased use of Ihe Fitness Studio. MEMBERSISHAREHOLDERS The DireCtorTrUsteeS are fulty aare that cpefatTrons Id be imFrt)ssible wlhout Ihe SUPPOFVspon50r5hip of the MemberslSh8rehoJders. All Dee1cSt[ruStees recard appreciats for the help and support of Memberslshareholders. Page 6
LINDUM SPORTS ASSOCIATION LIMITED TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES. RESPONSIBILITIES STATEMENT The Trustees (who are 31so direct5 of Lindum Swrts Ass480 Limited for the purposes of wmpany lawl are Tesponsible for preparing the Trustees. rèport and the financial siatemenis in accordance with applicable law and United "ngdorn Accountir¥J Standards (United Id0M Generalty Accepted ACCJntin9 Praclicel. Company law requires the Trustees to wepwe fmanual slatements for each financial year. Under company law the TfU5tees must not approve the financial statements unless they are satisfied that they give a Irue and lair view of the stste of affairs of the charitable company and of the incoming resources and application ol resources. including the income and expendilure, of the charitable company for Ihat pericJ. In preparing these financial statements. the Trustees are required to.. select suitsble &counts"ng pKJlicies and then awiythem &siSteIly, observe methods and 1n0p[eS in the Charities SORP. rnake judgments and accounting estimales that are reasonable and prudent.. state whether applicable UK AcccKJniing Standards have been fdto%bd, subject to any material departures disclosed and exained in the financial statements.. epare the financial stalements on the goiThJ concem basis unless it ts inwopriate to presume that the charrtable cornpany will CLtinUe in operation. The Trvstees are ie$ponsibk for kew'ng adaquate x¢ounb"ng records that are sufficient to show and explain the Gharitable company5 Iransactions and di5dose V+iih reasonabk acGtJracy at any ts.rne the financial posib.on of ihe charitable company and enable them to ensure that the financial statements ¢(xnply ¥th the Companies A 2006. They are also SPonSible lor saleguaTding the assets of the charitable company and hence for taking reasonable stèps fol the prevenb.on and detection of fraud and other irregulariU8S. DISCLOSURE OF INFORMATION TO AUDITORS Each of the person$ who are Trustees at the b.me vknen this Truslees. reFort is approved have confirmed that.. 50 lar as Ihai Trvslees are aware. Ihere is no relevant audit information of tlknbch the charitable companls auditors are unaware, and that Trnstees have taken all the step5 that ought to have been taken as Trustees in order to be awarè of y information needed by the charrtable companls audilors in connection preparing their report and io establistt that the charitsble comPanS auditors are awa of Ihat infonnation. Tlis report was approved by the Trustee5, on 12 Juty 2023 and signed on thw"r behalf by". E Wells-cole Chaimian Page 7
LINDUM SPORTS ASSOCIATION LIMED INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LINDUM SPORTS ASSOCIATION LIMITED OPINION We have audited the finanoal ststements of Lindum SFM)rts Association L(mited (the '¢haritable companrfl for the year ended 31 March 2023 vthich comprise the Statemenl of finanaal ac1>vities inccForating income and expenditure account. thè Balano sheet, the Statemènt of osh flow5 and the related notes. including a summary of sKJnificant accounb.ng policies. The financrdl rèporting framèwork that has been applied in Iheir preparation is pplicable law and the Unrted lQn9dom ACCn.ng Slandards (United 'ngdorn Generally Accepted AccounliThJ Praclicèl. in¢luding FRS 102 Yhe Financial ReFthng Slandard applj'cabje in the UK and Republic of Ire18r". In wr OFnion the financial stslements: give a true and fair view of the state crf the charitable companVs affair5 a5 at 31 March 2023 and of its incoming resources and applvlK)n of reswces, indUd9 rts inctyne and expenditure for the year then have en propedy prepared in aw)rdance with United Kirydom Generally Apted Accounting Practice., and have been ppare<l Trn acc(dan¢e Ihe qUirements of Companies Act 20A. BASIS FOR oP10m Vve conducted our audit in arcordance 1n1emakn.aI SlarKJard5 on AUd.g {UKI IISAS IUKII appli¢able law. Our rèsponsibilities under those standards a further described in the Auditors. responsibilities for the audit of the finan¢ial slatemen15 5eth.on of tAJr report. We are independent of the charitab company in acGordanGe with the ethical requirements that are r¢kvant to 1[ audit of the financi31 statement5 in the United Kingdom, inclu¢Jing the Financial Reporting Cwncil's Ethical Standard, and we have fulfilled our other ethical responsibililies in a¢¢ordafi¢e with these requirements. Wè believe that the audit evidence we have obtained is sufficienl and apprcyriate to provide a basis lor wr owi(M. CONCLUSIONS RELATING TO GOING C¢X4CERM In audiDng the finanoal statements, y have ccrfKluded that the direclorfs use of the ging concern basis of accounting in the preparation ol the financial staiemÈnts is appropriate. Based on the work we have perfomied, we have not identified any material uncertainknes relating to events or conditions that. indmdualty or colW"vely. may cast sKJnificant doubt C the lenlityl'5 ability lo continue as a going concern for a pencé of at least 12 rnonlh5 Ir(¥n vhjen the fjnanoal ststements are authoTised f(x issue. Our responsibilities and the re5pwsibilities of the direclcKs wilh resm lo going concem are described in the rdevant sections of this rerA)rt. OTHER INFORMATION The Trustees are reswnsibk for the other Infrffmation. The other informaticn compri$ the irtfcmatson include(I in the Annual report, other than the financK31 stslements and our Auditors, report thèrw). Our opinion on the financial staiernents does not cover the oiher inlomiation and. exc¢pt to Ihe e¥lent otherwise explicrtly stated in our report. we do not express any form of assuran cCfflduSn IFETeon. In connectiw wth our audit of the financial 5tatwnents, our resnsIbIlity is to read the other information and, in doing so, consider whether the other infomiab.on is materialty inconsistent with the financial statements or OUT knowledge oblained in the audit or otherwse appears to be malerialty misstated. If we identify such material inconsislen¢ies or apparent matellal misstatements. a required lo determine vthether there is 8 material misstatement in the financkql ststements or a material missl8lement of IhÈ other informatson_ If. based on the work we have perfornied. VIE condude that the is a matÈrial misstatement of this other iTrfomiation, we a required lo repc*t that fact. Page 8
LINDUM SPORTS ASSOCIATION UMITED INDEPENDENT AUOITORS. REPORT TO THE MEMBERS OF LINDU14J SPORTS ASSOCIATION LIMITED We have nothing to rep)rt in this reg8rd. OPINION ON OTHER MATTERS PRESCRIBED 8Y THE COMPANIES ACT 2006 In our opinm. based on the work undertaken ¢n the clse of the audit.. the infom)ation given in the Trustees, reFixl for the financial year frx whith the finar101 statements are epared is consistent wth the final statements. the Trustees. reFKXt has been prepared in Xwdance appli¢able legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of our knovledge and un¢JerstandirrfJ of the Charitab ccrfnpany and its environment obtained in the course of thè audit. we have nol identified material mi551atements in the Trustees, rep¢yt. We have nothin9 to rep¢yl in resped of the folk)w"ng matters in relth.on to wP4ch the Companies Act 2006 requires us to rort to if, in wr opinion= adequate accounting records have not kepL c¢ retums adequate for audit have not been rècèived from branche5 not visited by us.. or the fmancial stalemenls are not in agreement with the acccJnting records and retwns., or certain dis<JoSus of Trustees, rernurwakn" speGffied by law a not made" or we have nol received all Ihe infrnatiOn and eXanatiOnS we require for our audit- or the Trustees were not entitled to prepare the financial statements in accordance wth the small cornpanies regime and take 8(fvantage of the small companies. exemptions in preparing the Trustees. report and from the requirement to Ppare a Strategic rewt. RESPONS181LJTIES OF TRUSTEES As eXained mrKe fully in the Twstees. rKIn$Ilies statement. thÈ Trustees l¥tho are also the directors of the charrtable company the wrposes of company lawl are spOnSible for the preparation of the financial statements and for beiThJ 5absfied that they give a true and fair view. and for such internal control as the Trustees determine is necessary io enable Ihe preparation of financi31 stalements that are free from material misslatement. whether due to frwd or errc. In preparing the finanoal statements, the Trustees are reSnsible for assessing the charitsble wnpanls ability to continue as a going ¢oncèm. disrlosing. as applicable. matters related to going concem and using the going concern basis of accounts.ng unless the Twstees either intend to liquidate the charitable company or to cease Operati5, have no realistic allemative but to do so. Page 9
UNDUM SPORTS ASSOCIATION LIMITED INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LINDUAI SPORTS ASSOCIATION LIMITED AUOITORS. RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasC¥e assurance atfftji whethér thè financial statements as a whole are free from material misstatement. whether due to fraud or error. and lo issue an auditor's rewrt that inclvdes our opinion. Reasonable assurance is a hh thl of assurance. tt is not a guarantee that an audit conducted in accordance with ISAS IUKI wll detect a material mi55taternent whtn il eSts. Mtsstslernents arise from frnud error and are constder&d materi4 if. indmdualty or in Ihe aggre9ate. Ihoy ¢ould rea$ablY be exF¢ted lo influerr the eccMynic derysic of users taken on IhB basis of the$e financial statements. IrgUlaril1es. inCding fraud. are instan(x of non-comkliance tmih law5 and regulations. We design procedures in line wilh our responsibilities, c¥JUined atxwe, to delect matenal misstatements In respect of irregulafities. including fraud. The extent to which Jr w(£eduS are capable of delects'ng iiregulartD"e5, induding frJud is detailed below. .the engageMt partntsr ensurèd Ihat the erwJagemenl team cdkctively had the appropriate competence. capaknlities and skills to idenbfyor recoJnise n¢TrGOMplia Tmth apPle laws and regulations., we identified the laws and wulats.ons apKAKable lo the ry)mpany thrwgh discussions wilh directors and other managemenL and fr(¥n our commercial knuthedge and experCe. 4we focused on specific laws and regulati(x)s vthich we considered may have a direct material effect on the financial statements or tre operabons of the cnpany. including the Companies Act 2CQ6, laxaiion le9islatiDn, data wotection. anti-brit. empkjyment. enronments1 and heatth and safety legislation: 'we assessed the extent of complian¢e 7Mth the law5 and regulati¢ identsfied atthie throwJh making enquiries of managernent and inspecting legal CSenee. and •identified kws and Tegulations We comrnunicated vthin the audrt team rewlaty and the team remained alert to instances of non•compliance throughout the audit. We assessed the suscepts'bility of the compaty5 financial ststements to material mi5staterngnt, induding ¢)btaining an underslanding of how fraud might occur. by. •making enquiries of Manment as to whère they CSled there was Sp11b1Elty to fraud, their knoedge of 8Ctual, suspected and 8led fraud: )nsideTing the inlemal contro15 in place to mtyate rkS of fraud and non-COrnF4iance Vlth laws and regulatiofts." To address the risk of fraud through manayamenl bbas and override of controls. we: "perfcrfmed pr¢¢edu$ to idenbfy any unusual or unexFeCted lab"OnShipS,' .lesled journal entries to idenlfy unusual tranSaCtic. asse$sed elher judgements an¢J assumptws made in determining Ihe aco)untin9 estimates were indicative of potential ba5.. •invesligated the rab"onale behirKI significant or unusual transaclbons" In Tesponse lo the risk of Irwur.es and rKffi-comFdiance [h laws and wulations. we designe¢J procedures which inclL&ded. l)ut were not limited to." "agwng finanaal slalement discbsures to undety'rwj SUPF*yb"ng documentsb"on." Page 10
LINDUM SPORTS ASSOCIATKIN LIIAITED INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LINDUM SPORTS ASSOCIATION LIMITED eading the minutes of meetings of those charged with g0Vemae. enquiring of management as lo actual and potential litigation arKI daims: There are inherent limitations in our audrt procedures (Jescribed 3bove. The more removed that laws and regulations are from finawal transactions. the less likely it is that we Nwjuld become awa of non-compliance. Auditing standards also limit the audit protedures required to identify Thjn-compliance wth laws and regulations to enquiry of the directors and other management the inSpectn of regulatory and legal ts)rresrM)ndence, if any. Material misslatemenls that arise due to fraud can be harder lo detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our regponsibilities lor the audit of the financial sLemenls is located on the Fin8nctal Reporting Council's website al.. vAthv.frc.org.uklauditorsresponsibdilies. This description fomis part of our Auditors, report. USE OF OUR REPORT This report is made 501ety lo the tharitable Compan$ rnembers. as a body. in accordance th Chapter 3 of Part 16 of the Companies Act 2(. Our audit work has been undertaken so that we might stale to the charilatde CoMpanS members those matters V are required lo state lo them in an Auditors. report and for no other purpose. To the fullest exlenl pemiitted by law. we do not accepl or assume respOnsiblty lo anyone other than the charitable company and rts members, as a tKrfJy. for our aLKlil ¥wrk. for this report. or for the opinions we have formed. Robert Anderson (Senior stalul¢xy auditor) for and on behalf of 5tre8ts Audit LLP Chartered Accounlanls & Statutory Auditor Tower House Lucy Tower Street Lincoln Lincolnshre LN1 1XW 13 July 2023 Page11
UNOUM SPORTS ASSOCIATION LIMtrED STATEIAENT OF FINANCIAL ACTivmES INCORPORATING INCOME AND EXPENOITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 R¢stri¢ted Unrestricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Note INCOME FROM: Voluntary income Charit8ble activities Investments 25,708 193.917 235,974 3.939 235,974 3,939 TOTAL INCOME 242,249 242249 222,383 EXPENDITURE ON: Charitoble a¢tivities 5.6.7 29,$47 218,762 248,309 220.242 TOTAL ExPEN0uRE 29,547 218,762 148.309 220,242 NET INCOME I {EXPENDITUREI BEFORE OTHER RECOGNISED GAINS ANO LOSSES NET MOVEMENT IN FUNDS 129.5471 {29.$4n 23.487 23,4B7 16.0601 16.0601 2,141 2.141 RECONCILIATION OF FUNDS: T1 funds brought forward 381.468 540,054 921.522 919,381 TOTAL FUNDS CARRIED FORWARD 351.921 563,541 915.462 921,522 The notes on pages 14 10 25 fomi part of these financial Staternts. Page 12
LINDUM SPORTS ASSOCIATION LIIIIITED REGISTERED NUMBER: 00429169 BALANCE SHEEr AT 31 MARCH 2023 2023 2022 FIXED A55ETS Tangible assets CURRENT ASSETS Stocks D¥btors Cash al bank and in hand 693.634 732.253 12 4.240 22,635 285.472 4,256 34.679 242.685 13 312.347 281,620 REDITORS: am¢)unts fauing due wthin one year 14 ITO.519) (22.351) NET CURRENT ASSETS 241.828 259.269 TOTAL ASSETS LESS CURRENT UABILITIES 935.462 991,522 CREDITORS: amounts falling due after more than one year 15 120.0001 (70,oooJ NET ASSETS 915.462 92t.522 CHARITY FUNDS Restricted lunds Unrestncleil funds: Share caFilal Unrestricted lunds 17 351,921 381.468 16 17 32.651 530,890 32,651 507,403 Total unrestricted funds 563.541 540,054 SHAREHOLDERS. AND CHARtrrs FUNDS 915,462 921,522 The charitable companls financial statements have been wepared in aCrdance wth the provisions applicable lo companies subjecl to the small companies re9ime. e financial sts ir beh 11, ments were apwoved and aulhorised for issue by the Trustees on 12 July 2023 and signed on th wlov• Th notes on paJe5 14 to 25 fomi part ¢ these financial ststements. Page13
LINDUM SPORTS ASSocON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POUCIES 1.1 Basis of preparation of flnan¢ial stalements The financial 5tatemenls have been prepared in accordance with Accounting and Reporting by Chariiies." Ststement of Recommended Pracb"ce applicable to char"e9 preparing their accounts in accordance wth Ihe Financial ReportiThJ Stsndard applicable in the UK and Republic of Ireland IFRS 102) leftective 1 January 2015) - ICharib"es SORP IFRS 1021). the Financial Reporting Standard applicable in the UK and Republ ol Ireland IFRS 1021 and the Companies Act 2006. Lindum Sports Asso¢lati Limiled meets the deffin1 of a publ tenefft entity untler FRS 102. Assets and liabilities are inits'ally recc4nised at hislorical cost or transaction value unless olherwise stsle(l in the relevant accounting poticy. 1.2 Company sta9 The chartsble MpanY is limited by Sha caytal. The Charitable companvs functs'onal wesenlatKfftal Currency is pound5 Sterling. 1.3 Going concern The Irustee5 assess whether the use of gc¥ng c£fficem is appropriate i.e. whether there are any material (rncertaintses lated to events or con¢Jib"ons Ihal may cast Signift doubt on the ability of the charity to conknnue as a going ccfflcem. The trustees make Ihis assessment in respect of a period of at leasi one year from the dale of avthwisats.on for issue of the financial StaMents. The Truslee5' Report sets out the aclions taken post yEar end in Order to balar the charivs rinances monitor their financ¢al tM)sition. The trustee5 have concluded that the charity ha5 adequaie resources to (x)ntinue in operab.onal existence the fi)Tseeable fvtUTe and there are no matefial uncertainties about the charitys ability lo continue as a going concern. Thus they Continue to adopt the gng concem basis of acccMJntin9 in prepamg the financial statements. 1.4 Income AJI I)me 15 re¢¢gnised once the charilat4e company has entitlement to the income. il is probable that the income wll be received and Ihe amounl of inccxne receivable can be rneasud reliably. Other income is recognised in the period in *thich it is recavable and to the extent the gooJ5 have been provi¢Je(l or coMet10n of the serv. Page 14
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES Icontinutd) 1.5 Exyndltu Expendrture is recognised once there 1$ a legal or constructsve obligats.on tts transfer economic benefit to a third paty, rt is probab that a trdnsfer of economic benefits will be required in settlement and the amounl of the obligalion can be measured reliably. Expenditu is classified by activity. The St5 of each aCts"ty are made up of the lolal of dired costs and shared costs, snduding SUPPOrt ¢xists in¥ofved in undertaking each activity. Dired costs altrttwtable to a single activity afe alhxaied directly to thal aciiwty. sha costs vthich contribute to more than one activity and support costs which are not attr1tIab1e to a single actiwty a apportied ttween ihose activibes on a basis consistent wilh the L5se of resources. Support those u)Sts incurred dire¢tty in support of expendilure the 04.ects of Ille eharitable company. Govemance costs are those incurred in connection wilh adminislration of the charitable ¢ompany and lance WTth constituts.onal and statutory requirernents Charitable ath.wbes and Govemance costs are costs incurred on the charitablè companls opeiabons. including support costs and costs relab.ng to the govemance of the charitable company apports.oned io chafitsble acbvities. 1.6 Tanglbl• fixed assets and d•predatlon All fixed assets a irsiiialty recorde¢J at Cl All assets costing More than £SO) are (Xlitsli5ed. A revi for impairmeni of a ffixe(l asset ts carried rf everts or changes in ¢ircumstsn¢es indicate that the car.n9 value of any fixed asset may M)t be COVer3b1e. Shortfalls belN4een the carrying value of Ted assets and their recoverable arnjnts are recognised a5 impaifments. Impaiment losses are recognised in the Ststement of financial acb"vrtTres incorporating income and expenditure account. Tangible fixed assets are wried at wsl net of dePrlation and any provisK)n for impairment. oepfeciab.on is not charged on freehold land. Oepreckition Is provided at rates calculated to write off the Cost ol fixed assets. less their e5ts"mated residual value. over their expected useful lives on the follobwng bases.. Buildings ant & machirery AGP and SFecial projects 2% straight line 25% straight line straight Ihie between 3 and 25 yEars 1.7 Inter•sl recei¥able Interest on funds held deFWit is indled ththen receivable and the amnI can be measured relrabty by the charitable company. IS is ncwmly upon nolificaticm of the interest paid or payalAe by the Bank. 1.8 Stocks Stocks are valLJed at the IobbEr of o)st reali5abl• value after making thJe albwan¢e for obsolete and slow-m09 $locks. Page 15
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTIMG POLICIES Iconlinued) 1.9 Debtors Trade and olhèr debiors a recognised at the seilthenl amount after any trade discount offered. PrepayTnents are valued al the amount prepaid nel of any trade discoun15 due. 1.10 Cash at Bank and in hand Cash at bank and in hand indude5 ¢ash and short temi highly liquid investsnents th a short maturity ol three months or less fr¢Jm the datè of acquisitson or opening of the deposit or similar ccount. 1.11 Liabilitles and provlsions Liabililies are recc*Jnised when there is art lgatIC al the Balance sheet date as a result of a past event. it 15 probable that a transfer of economic benefit will be required in settlement, and the amount of the settlemÈnt can be ests"mated reliably. Liatx"lits"es are rec(NJnised at the amount that the charitable company antiapales it will pay to seltle the debt or the amOnt it has received as advanced paJTrents for the goods or 5eryices il must w0de. Prowsions are measured al the best estimate of the amounis required to Settlè th• oblwation. 1.12 Firrancial instruments The charitable company only has finan¢BI assets and rtnanual fiabshties of a kind that qualrfy as basic financial Tr)strumenls. Basic financial inslrumenls are initially recognised at transaction value nd subsequentty measured at their seiuemenl value. 1.13 Government grants Govemment grants a recognised at the lair lue of the assel received or recetvable. Grants are not recogni5ed unts"I there is reasonable assurance that the company will c4Jnply the condrtions attaching to ihem and the grants wll be received. 1.14 Fund accounting GenÈral funds are ijnrestricted fvnds V•tiith are avaibble for use at the dIsClon of the Trustees in furtheran of the general objectives of the charitable company aTrd whiGh have not been designated for other purposes. Desi9n3ted funds c(xnprise unre5trided funds that havè been Set aside by thè Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to thè financkil 51atements. Restrthd funds are funds %thich are to be used in aance speafic triCtionS imposed by donors or vA)ich have been raised by the chafitable company IC particular purwjses. The costs of raising and administering such funds are charyed against the speufic fund. The 8nd use of each restricted fund is set out in the notes to the finanrial statents. Page 16
LINDVM SPORTS ASSOCIATION UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2023 VOLUNTARY INCOME Restricted Unrnstricted funds funds 2023 2023 Total fvnds 2023 Total lunds 2022 Donats'ons Government grants 2.336 2.336 8.200 16,908 Total 2.336 2.336 25.108 Total 2022 25,108 25. 108 INCOME FROM CHARIT&lBLE ACTivrriES R¢stri¢t¢d UDr¢strict•d funds funds 2023 2023 Tolal funds 2023 Total funds 2022 Sport5 farylrties an(J club house 235.974 235.974 193,917 Total 2022 193.917 193.917 INVESTMENT INCOME Restricted Unrestricted fvnd5 fvnds 2023 2023 fotsl funds 2023 Total funds 2022 Bank Interest Receivable 3.939 3,939 3.939 3.939 3.358 Total 2022 3.358 3,358 Page 17
LINDUM SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 DIRECT COSTS Sports Faellltles Club House Total 2023 rotal 2022 Groynd$man fees Repairs and Maintenance Turt. Gra55 Seed & Ferbliser Bar & Catering Purchases Insurances & Licences Bank Charges Wages and salaries DepreGiati 9.000 10.246 1,113 8.555 74,547 875 36. 158 7, 184 2,536 32,867 59.562 10.246 1.113 45,646 7.692 3.183 43.870 18.183 7,692 3,183 43.870 57.836 39.653 60,012 118,574 178.586 162,284 Total 2022 69,813 92,471 162.284 SUPPORT COSTS Sports Faclllties Club House Total 2023 Tolal 2022 Repair5 antl Maintenar¢ Water rates B0okkeeng Subscripb"on5 Sundry Expenses Stationery & Postage Ttlephone Cleaning Interest cm loans Rates Light & heat Wagès and salaries T.337 999 4T2 3. 184 1,164 5T3 636 5,928 600 745 17,108 16.070 3,449 175 2.964 3,972 3,449 582 2,964 3.972 649 701 4.092 600 1,459 25.85fj 14,781 407 701 4.092 600 1.459 25,856 14.781 10.560 57,013 67.573 54,816 Total 2022 5.489 49.327 54.816 Page 18
LINDUM SPORTS ASSOCIATION LIAIITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 GOVERNANCE COSTS Restricted Unrestri¢ted fund funds 2023 2023 Total fund5 2023 Total funds 2022 Auditors. remuneratson Legal lees 2.073 2,073 77 2,065 1.077 2,150 2,150 3, 142 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Stsff costs Depreciation Other eosts 2023 2023 2023 Totsl 2023 Total 2022 Sports Facililies Club House 39,653 18,183 30.919 98.753 70,572 175,587 75,302 141, 198 58,651 Chwitable activiti•s 58,651 129.672 246,159 217. 100 Expenditure on governance 2.150 2,150 3, 142 58.651 57.836 131.822 248.309 220,242 Total 2022 48.937 59,562 111,743 220,242 NET INCOMEI(EXPENorruRE) This 15 Sted after tharging.. 2023 2022 Depreciion of tangib fixed assets.. - owned by the charitable company Audittys. remunèrabon- audht 57.836 2.073 59.565 2.065 The Trustees have not received (w obtained any remuneration c* other financid benefits for Ihe year direclly or IndiruY from the chaTilAbJ8 companls funds. Page 19
LINDUM SPORTS ASSOCIATION LIED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. STAFF COSTS Staff costs were as folbws.. 2023 2022 Wages and salaries 58.651 48.937 The average wmber d pers$ emttyd by the charitabfe company during the year was as follows.. 2fj23 2022 Total ernpbyees No gmployee r1ved remunerati amounting to more Ihan £60,CW in either year. 11. TANGIBLE FIXED ASss AGP and special projects Freehold Plant & property machintry Total Cost At 1 &DriI 2022 Additi'on5 295.708 229.127 117 819.1105 11.030 1.343,840 19.217 Al 31 March 2023 295.708 237.314 830.035 1,363,OS7 O?pr•ciation At 1 April 2022 Charge for the year 128,590 6.380 187,990 10.106 295.007 41,350 611.$87 57,836 At 31 March 2023 134.970 198,096 336.357 669,423 N•t book valu• At 31 MarGh 2023 160.738 39.218 493.678 693,634 At 31 Marth 2022 167. 118 41,13T 523,998 732,253 Induded in freehold propety is land al cost of £3.434 which is not deprecAaled. Charges exist against the property in reklion to the Wential dav4bac* of monTres recwved from England . Hockey and English Sports Council. Page 20
LINDUM SPORTS ASSOCIATION UMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. STOCKS 2023 2022 Good5 resae 4,240 4,256 13. DE8TORS 3023 2022 Trade debtors Prepayments and aecrued income 354 14.201 26.004 8.675 22,635 34.679 14. CREDITORS: Amounts falllng du• t*ithin one year 2023 2022 Other k)8ns Tfade creditors Other taxaty.on and scoal security Accruals and deferre(1 incrrfne 50.000 10.003 5.045 5.471 8,56T 7.312 6,472 70.519 22.351 Deferred income Deferred incixne at 1 April 2022 RUrceS deferred during the ar Arnounts released from prev¢ous years 4,438 4,438 14,4381 Deferred incryne al 31 March 2023 4,438 Defeffed income reSents invtiices for the use of tsollie5 raised in advance. 15. CREDITORS.. Amounts falling dv• after more than one yeaT 2023 2022 Olher loarbs 20,000 70,000 A Tnjslee made a loan to Ihe ¢harilable crn)pany of £30.000. Ouring the previous years £10.000 was repaid leaving a balanc8 of £20.0). The loan is unsecured and carries interest at per annum which has be8n waived by the Truslee as a donab.on to Ihe charity. Page21
LINDUM SPORTS ASSOCIATION UMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2023 16. SHARE CAPITAL 2023 2022 Allotted. called up and fvlly pald 32.651 Ordinary Shares of £1 eath 32.651 32,651 17. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 31 March 2023 Balance at 1 Wil 2022 Tr4nsfeffs Inlout Income Exponditure O•signat•d funds AGP Fund General Sinking Fd Squash Club Loan Repayrnent Fund Cri¢ket Club 160.000 34,450 2.197 34.000 700 20.000 {1.003) P.1971 16.000 180,000 33.447 50,OOD 70Q 231.347 32.800 264,147 General funds General funds Share capital 276.056 32,651 242.249 1218.762) (32,8001 266,743 32,651 308,707 242.249 1218.762) 132,8001 299,394 Total Unrestricted funds 540.054 242,249 {218.762) 563.541 Restricted fvnds Restricted AGP fund Air conditioning 129.$47) 3S1,421 5DD 381.468 129.547) 351,921 Totsl of lunds 921.522 242.249 1248,309) 915,462 Page 22
UNDUM SPORTS ASSOCIATION UMITED NOTES TO THE FINANCJAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17. STATEMENT OF FUNDS Icontinuedl STATEMENT OF FUNDS- PRIOR YEAR Balance 81 31 Maffh 2022 Balance al 1 Apnl 2021 Transfers In¢tyng Exwdrture Design*ed fvnds AGP Fund General Sinklng Fund Squash Club Loan Repayment Funt1 Crickel Club 138,466 40.IXXI 2. 197 20.000 21,534 (5.550) 160,000 34,450 2,197 34,000 TOO 14.¢X 700 200.663 700 29.984 231,347 General funds G¢neral funds Share capital 274.445 32.651 221.683 (t90.088J (29.984J 276,056 32,651 Total Unrestricted funds 7.759 333.383 ff90.088J 540,054 Restricted funds Restricted AGP fvnd Air conditioning 411.122 (30.154) 380,968 500 411.622 (30. 154) 381.468 Totsl of funds 919.381 222.J83 (220,242) 921,522 SUMMARY OF FUNDS-CURRENT YEAR B8lan¢e at 31 Mare 2023 Balance at 1 Awil 2022 Transfers Inlout In¢ome Exp¢nditur¢ Designated funds General funds 231.347 XI8.707 32.800 132,8001 264.147 299.394 242,249 1218.762) 540.054 381.468 242,249 {218.762) {29.5471 563.541 351,921 Restricted funds 921.522 242.249 1248.309) 91S.462 Page 23
UNDUM SPORTS ASSOCIATION LIAIITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17. STATEMENT OF FUNDS {continuedl SUMMARY OF FUNDS- PRIOR YEAR Balance at 31 March 2022 BalanGe at l Apiil 2021 Tr8nsfers out Income Expentlure Designated funds General funds 200,663 307.096 7(Kl 221.683 29.984 (29.984J 237,347 308, 707 (190,088) 507.759 411,622 222.383 (190.088) (30. 154) 540,054 387.468 R•strtied funds 919.381 222.383 (220,242) 921,522 The designated AGP fund represents money set aside for fubjre refurbishment ar repair Irk per the original agièèment wTrth England and England Hockey. The designated gener sinking fund represents money set aside for the future development of the clubhouse and other facilib"es. The designated loan repayrnenl fLd represents money set aside lor luture k>an repayTrents. The designated crricket fun¢J represents money sel aside for fLrture capital expenditure. The deswjnated squash dub lund represenled meYf¢ the of the squash cknb. The restricted air conditionirvJ fund represents money received for future imFVeMents. The restricted AGP lund represents fixed assets wrchased by restricted grant *Jnding. ANALYSIS OF 14ET ASSETS BETWEEN FUNDS Re5triet•d Unrnstrict funds fvnds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one Jtar 351,421 342.213 311.847 170.5191 120.0001 693,634 312,347 170.5191 120,0001 351,921 563.541 915,462 Page 24
LINDUM SPORTS ASSOCIATION LIMITED NOTES ro THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ANALYSIS OF NET ASSETS BETWEEN FUNDS leontinu•d) ANALYSIS OF NET ASSETS BErnEEM FU14DS- PRIOR YEAR Restncted Unrestricted ffunds runds 2022 2022 Tol funds 2022 Tangible fixed assels Current assets Creditors dve vitthin one year Creditors due in more than one year 380.968 350, 784 281,620 (22.350J (TO,000) 732,252 281,620 (22.350) {70,OOOJ 381,468 540.054 921,522 19. RELATEO PARTY TRANSACTIONS The charitabje company is contrc41ed ty its Truslees. There have been no transaction$ balances that a required to be disdosed under FRS 102 other than as disclosed in notes 9 and 15. Page 25