VICTORY SPORTS GROUND Charity Registration No 803621
ANNUAL REPORT & ACCOUNTS
YEAR ENDED 31[st] MARCH 2021
VICTORY SPORTS GROUND Charity Registration No 803621 Year Ended 31[st] March 2021
Contents
| Trustee’s Annual Report | 1 |
|---|---|
| Statement of Trustees’ Responsibilities | 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the accounts | 8 |
VICTORY SPORTS GROUND Charity Registration No 803621 Year Ended 31[st] March 2021
Trustee’s Annual Report
The Trustee is pleased to present their report and accounts for the year ended 31 March 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the Trust's governing document, the Charities Act 2011 and the Statement of Recommended Practice, Charities SORP (FRS102).
Objectives and activities
A public park to be known as the “Victory Sports Ground” for the benefit of the inhabitants of the Borough of Southend-on-Sea and the recreation of the public.
The sport ground, in addition to providing a general recreational area, contains football and cricket pitches, which are hired by teams throughout the year.
The old pavilion on the ground, which provided changing accommodation and a tea bar, was destroyed by fire in 1995. A new pavilion was constructed by Southend Borough Council and was ready for the 1997/8 football season.
The sports ground is administered and maintained for the objects set out in its governing document by the Borough Council, which meets any deficit incurred each year on operating the facility.
The Trustees in making decisions about the Trust make those decisions with due regard to the objects of the Trust.
They also have due regard to their legal duty to carry out the Trust’s charitable purposes for the Public Benefit and the Charity Commissions’ guidance thereon.
Achievements and performance
Victory Sports Ground is currently maintained to allow the purposes in its Governing document set out below to take place during the financial year 2020-21.
The financial year began with the UK in lockdown, as per the UK Government’s announcement on 23[rd] March 2020, with facilities at Victory Sports Ground affected in the following way:
-
a) Temporary closure of the pavilion.
-
b) Suspension of sports and facilities hire.
-
c) Installation of temporary signage regarding social distancing.
Government restrictions meant that outdoor sports facilities were only permitted to be open for a few months in 2020/21, between 23[rd] June - 14[th] September, this meant that the facilities hire income normally raised from organised sports was reduced to zero in 2021 (2020: £6,833).
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VICTORY SPORTS GROUND
Charity Registration No 803621
Year Ended 31[st] March 2021
Restrictions on outdoor sports facilities were finally lifted on 29[th] March 2021 as part of Step 1 of the Government’s roadmap for lifting lockdown.
Victory Sports Ground’s field remained open for all members of the public to make use of for exercise, within Government guidelines.
The Trustee considers that the performance of the charity during the year was satisfactory.
Plans for the future
The Trustees intend to continue with the current activity and maintain the standards of Victory Sports Ground.
Government restrictions and guidelines will be closely monitored and implemented where needed. The Trustees are aware of the importance of Victory Sports Ground’s facilities and will restore their availability to all members of the public as soon as it is possible.
Financial review
The cost of maintaining the sports ground exceeded the net income from trading activities and the deficit of £34,514 (2020 £24,495) has been funded from the Southend Borough Council General Fund, by a donation to the charity.
Reserves Policy
The trust does not need to hold reserves as any deficit which arises on the operation of the trust, should the trust have no funds to meet it, is funded by Southend on Sea Borough Council, which is sole trustee of the trust.
Going concern
Victory Sports Ground meets the definition of a public benefit entity under FRS102. There are no material uncertainties about the charity’s ability to continue as a going concern.
Structure, governance and management
Governing documents
The Trust’s Governing document is in the form of an Indenture signed on 30[th] September 1921.
Trustee recruitment and training
Southend Borough Council elected members are corporate Trustees. Therefore Councillors once elected become a corporate Trustee of the Trust.
Risk Assessment
The borough council, when carrying out risk assessments for its own activities, includes within the assessment the activities of the trust, so any major risks applicable to the trust are covered by the council arranging appropriate insurance or having in place strategies to cover other contingencies.
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VICTORY SPORTS GROUND Charity Registration No 803621 Year Ended 31[st] March 2021
Reference and administrative details
Trustee
Southend-on-Sea Borough Council
Secretary/Treasurer to the Trust
Southend-on-Sea Borough Council
Address
Civic Centre Victoria Avenue Southend-on-Sea Essex SS2 6EP
Independent Examiner
TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN
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VICTORY SPORTS GROUND Charity Registration No 803621 Year Ended 31[st] March 2021
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing accounts which give a true and fair view of the state of affairs of the Charity as at the end of each financial year and the income and expenditure of the Charity for that period.
In preparing those accounts, the Trustees are required to:
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Select suitable and applicable accounting policies and then apply them consistently
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Make judgement and estimates that are reasonable and prudent
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Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the organisation will continue in business
The Trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the financial statements comply with charity legislation and the relevant governing instruments. They are responsible for safeguarding the Charity’s assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results
The Trust’s financial results are as per the annexed accounts.
By order of the Trustees
Signed Joe Chesterton, Executive Director (Finance & Resources) Date 18[th] March 2022
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VICTORY SPORTS GROUND Charity Registration No 803621 Year Ended 31[st] March 2021
Independent Examiner’s Report
I report on the accounts of the Trust for the year ended 31[st] March 2021, which are set out on pages 6 to 11.
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 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Mark Cummins FCCA
For and on behalf of TC Group Office: Steyning Dated: 23 March 2022
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VICTORY SPORTS GROUND
Charity Registration No 803621 Year Ended 31[st] March 2021
Statement of Financial Activities
| 2020/21 2020/21 2020/21 |
2020/21 2020/21 2020/21 |
2019/20 | |
|---|---|---|---|
| Unrestricted Endowment Total |
Total | ||
| Funds Funds Funds |
Funds | ||
| Note | £ £ £ |
£ | |
| Income From | |||
| Donations 3 |
34,514 - 34,514 |
24,495 | |
| Investments 4 |
4 - 4 |
8 | |
| Charitable activities 5 |
- - - |
6,833 | |
| Total Income | 34,518 - 34,518 |
31,336 | |
| Expenditure on | |||
| Charitable activities 6 |
34,518 - 34,518 |
31,336 | |
| Total expenditure | 34,518 - 34,518 |
31,336 | |
| Net income/expenditure & net movement in funds |
- - - |
- | |
| Reconciliation of Funds | |||
| Total funds brought forward | - 10,421 10,421 |
10,421 | |
| Total funds carried forward | - 10,421 10,421 |
10,421 |
All income and gains for the year are recognised on the statement of financial activities. All the Charity's activities are classified as continuing.
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Charity Registration No 803621 Year Ended 31[st] March 2021
VICTORY SPORTS GROUND
Balance Sheet
| 2020/21 | 2019/20 | |
|---|---|---|
| Total Funds |
Total Funds |
|
| Note | £ | £ |
| Fixed Assets | ||
| Tangible Assets 7 |
10,000 | 10,000 |
| Total Fixed Assets | 10,000 | 10,000 |
| Current Assets | ||
| Cash at bank and in hand | 1,041 | 1,051 |
| Total Current Assets | 1,041 | 1,051 |
| Liabilities | ||
| Creditors: Amounts falling due within one year 8 |
620 | (630) |
| Net current assets/(liabilities) | 421 | 421 |
| Total assets less current liabilities | 10,421 | 10,421 |
| The funds of the charity | ||
| Endowment funds 10 |
10,421 | 10,421 |
| Total charity funds | 10,421 | 10,421 |
Approved by the Trustee and signed on its behalf by an authorised signatory.
Signed
Joe Chesterton, Executive Director (Finance & Resources) Southend on Sea Borough Council for the Trustee
Date 18[th] March 2022
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VICTORY SPORTS GROUND Charity Registration No 803621 Year Ended 31[st] March 2021
Notes to the accounts
Note 1 Legal Status
Victory Sports Ground is an unincorporated charity registered in England and Wales (charity number 803621).
Note 2 Accounting Policies
Basis of preparation
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2016) – (Charities SORP (FRS 102)), and the Charities Act 2011.
Victory Sports Ground meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There are no material uncertainties about the charity’s ability to continue as a going concern given the continued support of Southend Borough Council.
Cash Flow Statement
In accordance with the Charities SORP (FRS 102) the charity is claiming exemption from the requirement to prepare a cash flow statement on account of it being a small charity.
Income
Donations and other forms of voluntary income are recognised as incoming resources when receivable, except insofar as they are incapable of financial measurement.
Charitable activities - represent income from rent and are recognised when receivable.
Investment income is accounted for when receivable.
Expenditure
Expenditure is accounted for on an accruals basis exclusive of the element of VAT which is recoverable by Southend Borough Council in accordance with VAT Notice 749 para 7.5.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Tangible fixed assets and depreciation
Tangible fixed assets are capitalised at cost. Land is not depreciated.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments. No separate bank account is maintained by the Trust, therefore all income and expenditure passes through the Borough Council’s account, and its cash balances are held within the Borough Council’s general bank account.
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VICTORY SPORTS GROUND Charity Registration No 803621 Year Ended 31[st] March 2021
Creditors and provisions
Creditors and provisions are recognised where the charity has present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.
The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.
Note 3 Income from Donations
Donations of £34,514 (2020 £24,495) were from Southend Borough Council as the funding required to make up the operational deficit for the year. This donation is equitably apportioned across all operational trust expenditure. Included in the donation of £34,514 are the following donated services:
| Employees – seconded staff Administration |
2021 2020 £ £ 13,028 6,991 343 245 |
|---|---|
| 13,371 7,236 |
Note 4 Income from Investments
Investment income is from interest earned on the cash balances held.
Note 5 Income from Charitable Activities
| Charitable trading activity Facilities Hire |
2021 2020 £ £ - 6,833 |
|---|---|
| - 6,833 |
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VICTORY SPORTS GROUND Charity Registration No 803621 Year Ended 31[st] March 2021
Note 6 Cost of Charitable Activities
| 2021 2020 |
|
|---|---|
| £ £ |
|
| Employees | 13,030 8,943 |
| Building/Ground Maintenance | 15,853 16,592 |
| Utilities | 2,069 1,123 |
| Transport | 81 145 |
| Insurance | 773 1,821 |
| Supplies & Services | 1,749 1,768 |
| Governance costs | 620 630 |
| Administration | 343 314 |
| 34,518 31,336 |
The support costs incurred are the administration services provided by Southend Borough Council and governance costs. Total support costs for the year were £963 (2020: £944).
Governance costs comprise solely of fees paid to independent examiners. During the year £620 (2020: £630) was paid to the independent examiner in respect of examination services.
Employee costs relate to employees of the Council.
No staff are remunerated over £60,000 in the year.
The charity is managed by Southend Borough Council and doesn’t have any key management personnel.
Note 7 Fixed Assets
| Asset cost, valuation or revalued amount Balance brought forward @ 01/04/20 Balance carried forward @ 31/03/21 Accumulated depreciation and impairment reviews Balance brought forward @ 01/04/20 Charge for the year Balance carried forward @ 31/03/21 Net Book Value Brought forward @ 01/04/20 Carried forward @ 31/03/21 |
Freehold Land £ 10,000 |
|---|---|
| 10,000 | |
| - - |
|
| - | |
| 10,000 | |
| 10,000 |
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VICTORY SPORTS GROUND Charity Registration No 803621 Year Ended 31[st] March 2021
Note 8 Creditors
Amounts falling due within one year
| due within one year | |
|---|---|
| Other Creditors | 2021 2020 £ £ |
| 620 630 |
Note 9 Comparative Funds
All income and expenditure in 2020/21 was unrestricted.
Note 10 Endowment Fund
The endowment fund has arisen as a result of the original donation of the land.
Note 11 Trustee remuneration
No trustee was paid in respect of their services as a trustee in 2020 or 2021 and no expenditure was reimbursed.
Note 12 Related Party Transactions
During the year the trustee (Southend Borough Council) donated £34,514 (2020: £24,495) to the Trust in respect of the funding required to cover the operational deficit for the year. Southend Borough Council collected a further £4 (2020: £6,841) on behalf of the Trust in respect of income generated from facilities hire and interest earned. The Trust paid the Council £33,898 in respect of operating costs for the year (2020: £31,336).
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