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2021-05-31-accounts

Charity Registration No. 801764

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

M Clare A Saward B Pelling

(Appointed 13 July 2021) (Appointed 13 July 2021)

Charity number

801764

Independent examiner

Simon Needham FCCA Independent examiner Croucher Needham (Essex) LLP 10 Market Walk Saffron Walden Essex CB10 1JZ

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

CONTENTS

Page
Chairman's statement 1
Trustees' report 2 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 13

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MAY 2021

Saffron Walden Community Youth Football Club has had a successful year both on and off the pitch.

The Club committee has welcomed some new members as past servants to the Club moved on, and I became the new Chairman. Martin Johnson, my predecessor, has served for four years and overseen many positive changes. Also, we have over 150 volunteer coaches and team administrators, covering over 600 children. The biggest change to our administrative function has been the addition of paid admin support.

We have seen new facilities open this year. The new 3G pitch has proved more than worth the hard work of the last few years fundraising and planning. The Club uses is everyday of the week. It has provided proper training facilities for our players and much needed space on match days. Our new pitches at Lime Avenue also relieve pressure on our other venues, but since the Club continues to grow, we still have many over-used grass pitches.

We have successful teams competing at high standards throughout the Club, while maintaining a policy of providing football for anyone who wants to play.

Financially, the Club is healthy, and prepared fur future running costs of new venues. Our investments in admin support, a tractor for grounds maintenance and other sundries mean that we can continue to provide to the children, a fun and safe environment to play football.

..............................

A Saward Chairman

Date: .........................

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2021

The trustees present their annual report and financial statements for the year ended 31 May 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "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

The objective of the charity is to provide for the inhabitants of Saffron Walden and its surrounding area in the interests of social welfare facilities for recreation and improvement of the living conditions of the inhabitants and to promote youth sports and enable interested boys and girls to learn new skills in a sportsman like manner.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Details of the charity's achievements and performance in the year are detailed in the Chairman's Statement.

Financial review

During the year, the Club has generated a surplus of £101,968 (2020 - £25,981), out of which, some £31,002 relates to the restricted fund covering fundraising for the 3G pitch. A further £24,341 of the surplus relates to the restricted fund created in respect of the purchase of a tractor. This grant has been spent in full, however the fund balance will be written off over a period of time as associated depreciation charges are recognised.

Excluding these restricted funds, the surplus for the year on unrestricted funds amounted to £46,625 (2020 - £15,933). As a result of the reported surplus for the year, at 31 May 2021, overall reserves amounted to £175,992 (2020 - £74,024).

The charity's policy is that all unrestricted funds are available for meeting the charity's general purposes or objectives. These funds are spent at the Trustees' discretion or by delegation to nominated persons.

The charity needs to maintain a level of unrestricted reserves sufficient to cover the day to day working capital of the charity.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

The trustees who served during the year and up to the date of signature of the financial statements were:

N Taylor (Resigned 13 July 2021) M Clare M Johnson (Resigned 13 July 2021) A Saward (Appointed 13 July 2021) B Pelling (Appointed 13 July 2021)

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

The trustees' r eport was approved by the Board of Trustees.

.............................. A Saward Trustee Date: .............................................

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

I report to the trustees on my examination of the financial statements of Saffron Walden Community Youth Sports Club (the charity) for the year ended 31 May 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Simon Needham FCCA

Independent examiner Croucher Needham (Essex) LLP 10 Market Walk Saffron Walden Essex CB10 1JZ

Dated: .........................

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
2
9,876
214,396
Activities for generating
funds
3
82,702
-
Investment income
4
9
94
Total income
92,587
214,490
Expenditure on:
Costs of generating
funds
Costs of generating
voluntary income
5
29,829
159,147
Fundraising trading:
cost of goods sold and
other costs
5
15,526
-
Total charitable expenditure
45,355
159,147
Other resources
expended
8
607
-
Total resources expended
45,962
159,147
Net income for the year/
Net movement in funds
46,625
55,343
Fund balances at 1 June 2020
63,976
10,048
Fund balances at 31 May
2021
110,601
65,391		 Total Unrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
224,272
6,788
25,518
82,702
79,704
-
103
52
44
307,077
86,544
25,562
188,976
52,851
15,514
15,526
17,323
-
204,502
70,174
15,514
607
437
-
205,109
70,611
15,514
101,968
15,933
10,048
74,024
48,043
-
175,992
63,976
10,048		 Total
2020
£
32,306
79,704
96
112,106
68,365
17,323
85,688
437
86,125
25,981
48,043
74,024

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

BALANCE SHEET

AS AT 31 MAY 2021

2021
Notes
£
Fixed assets
Tangible assets
9
Current assets
Debtors
10
100,000
Cash at bank and in hand
132,344
232,344
Creditors: amounts falling due within
one year
11
(105,660)
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
12
Unrestricted funds		 £
49,308
126,684
175,992
65,391
110,601
175,992		 2020
£
-
72,400
72,400
(1,239)		 £
2,863
71,161
74,024
10,048
63,976
74,024

The financial statements were approved by the Trustees on .........................

..............................

A Saward Trustee

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

1 Accounting policies

Charity information

Saffron Walden Community Youth Sports Club is an unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

The coronavirus pandemic has affected the charity however the overall impact is limited. Funds are raised through subscriptions and memberships and the expenditure incurred is driven directly by the activities performed such as football games. If football could not be played as a result of the pandemic, the charity would be under no obligation to pay back fees and, being run by volunteers, would have minimal costs. Therefore at the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

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.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery

5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. The company has no more complex financial instruments that require measurement at amortised cost using the effective interest method.

1.10 Taxation

The charity is exempt from tax on its charitable activities.

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2021
2021
£
£
Donations and gifts
2,375
184,642
Grants
1,700
29,754
Gift aid
5,801
-
9,876
214,396		 TotalUnrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
187,017
234
24,235
31,454
850
-
5,801
5,704
1,283
224,272
6,788
25,518		 Total
2020
£
24,469
850
6,987
32,306

3 Activities for generating funds

Subscriptions received
Sponsorships and advertising
Training fees
Kitchen income		 2021
£
76,888
4,069
-
1,745
82,702		 2020
£
79,059
1,200
(555)
-
79,704

4 Investment income

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Interest receivable 9 94 103 52 44 96

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

5 Costs of generating funds

Costs of
generating
voluntary
income
Fundraising
trading:
cost of
goods sold
and other
costs
2021
2021
£
£
Depreciation and
impairment
1,896
-
Postage and stationery
260
-
Advertising
3,499
-
Premises expenses
7,384
-
FA affiliation and league
fees
447
-
Training courses
480
-
Footballs and equipment
4,695
-
Essex FA fines
338
-
Pitch hire
18,261
-
Trophies and medals
236
-
Tournament costs
-
1,219
Kit purchases
-
11,377
Referee fees
-
942
Professional fees
151,480
-
Kitchen supplies
-
1,298
188,976
14,836
Share of governance costs
(see note 6)
-
690
188,976
15,526
Analysis by fund
Unrestricted funds
29,829
15,526
Restricted funds
159,147
-
188,976
15,526		 Total
2021
Costs of
generating
voluntary
income
Fundraising
trading:
cost of
goods sold
and other
costs
2020
2020
£
£
£
1,896
380
-
260
146
-
3,499
2,363
-
7,384
1,439
-
447
3,405
-
480
8,488
-
4,695
6,731
-
338
553
-
18,261
30,893
-
236
114
-
1,219
-
512
11,377
-
13,203
942
-
2,948
151,480
13,853
-
1,298
-
-
203,812
68,365
16,663
690
-
660
204,502
68,365
17,323
45,355
52,851
17,323
159,147
15,514
-
204,502
68,365
17,323		 Total
2020
£
380
146
2,363
1,439
3,405
8,488
6,731
553
30,893
114
512
13,203
2,948
13,853
-
85,028
660
85,688
70,174
15,514
85,688

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

6 Support costs

Support
costs
Governance
costs
£
£
Examiners Fees
-
690
-
690
Analysed between
Charitable activities
-
690		 2021
Support
costs
Governance
costs
£
£
£
690
-
660
690
-
660
690
-
660		 2020
£
660
660
660

7 Trustees

There were no trustees' remuneration or other benefits for the year ended 31 May 2021 nor for the year ended 31 May 2020.

Trustees' expenses

During the year, expenditure incurred on behalf of the charity by its Trustees amounting to £12,065 was reimbursed.

The expenses were reimbursed to 2 Trustees in the year.

8 Other resources expended

Unrestricted Unrestricted
funds funds
£ £
2021 2020
Insurance 607 437
607 437

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

9 Tangible fixed assets

Cost
At 1 June 2020
Additions
At 31 May 2021
Depreciation and impairment
At 1 June 2020
Depreciation charged in the year
At 31 May 2021
Carrying amount
At 31 May 2021
At 31 May 2020
10
Debtors
Amounts falling due within one year:
Other debtors
11
Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 Plant and machinery
£
3,243
48,341
51,584
380
1,896
2,276
49,308
2,863
2021
2020
£
£
100,000
-
2021
2020
£
£
4,970
579
100,000
-
690
660
105,660
1,239

SAFFRON WALDEN COMMUNITY YOUTH SPORTS CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

12 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

r
3G Pitch Fund
Herberts Farm tractor
purchase
Football Foundation - pitch
improvements grant		 Movement in funds
Incoming
esources
Resources
expended
Balance at
1 June 2020
Incoming
resources
Resources
expended
Balance at
31 May 2021
£
£
£
£
£
£
25,562
(15,514)
10,048
184,736
(153,734)
41,050
-
-
-
24,754
(413)
24,341
-
-
-
5,000
(5,000)
-
25,562
(15,514)
10,048
214,490
(159,147)
65,391

During the year, the charity has continued to fundraise for the purposes of constructing a 3G sports pitch. This activity is considered to constitute a restricted fund on the basis that funds raised will be used for the construction and subsequent maintenance of this facility.

During the year, the charity was given a grant amounting to £24,754 by the Football Foundation, to add with the funding for the purchase of a tractor to assist with the maintenance of the pitches at Herberts Farm. Resources expended in respect of this grant consists of the depreciation charged in the year on the asset acquired.

During the year, a grant of £5,000 was received from the Football Foundation to be spent on pitch improvement works. These funds were spent in full during the period.

13 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at 31
May 2021 are
represented by:
Tangible assets
24,967
24,341
Current assets/
(liabilities)
85,634
41,050
110,601
65,391		 TotalUnrestricted
funds
Restricted
funds
2021
2020
2020
£
£
£
49,308
2,863
-
126,684
61,113
10,048
175,992
63,976
10,048		 Total
2020
£
2,863
71,161
74,024