LARNE FOOTBALL CLUB (NI) LTD REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2023
Company Registration No: NI 623433 Charities Commission NI No: 101698
TONER McDOWELL
Chartered Accountants 2 Woodstock Link Belfast BT6 8DD
LARNE FOOTBALL CLUB (NI) LTD
FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2023
| CONTENTS | PAGES |
|---|---|
| Officers and professional advisers | 1 |
| Directors' report | 2 |
| Accountants’ report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 |
LARNE FOOTBALL CLUB (NI) LTD
OFFICERS AND PROFESSIONAL ADVISERS
Committee of Management - Directors
G Humphrey RL Hutchinson R Logan J McKinstry RA Robinson
Registered office
Inver Park Inver Road Larne Co Antrim BT40 3BW
Accountants
TMcD Accountancy Practice Chartered Accountants 35 Ballylough Road Donaghcloney BT66 7PQ
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LARNE FOOTBALL CLUB (NI) LTD
DIRECTORS’ REPORT
YEAR ENDED 31ST MARCH 2023
The Directors have pleasure in presenting their report and the financial statements of the company for the year ended 31[st] March 2023.
PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
Our Aims and Objectives
Larne Football Club NI promotes community participation in healthy recreation as well as social development of the players and their families by providing facilities for the playing of Association Football for the residents of Larne and its environs. Provide and assist in providing facilities for sport, recreation or other leisure-time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interests of social welfare. Public Benefit: We do this through providing a range of activities which meet the needs of local communities including coaching and playing of amateur football, organisation of activities which promote health and wellbeing and positive mental health. We engage with people from disadvantaged communities and communities with higher levels of poverty and encourage them to use our facilities at Inver Park, bringing people together and tackling sectarianism and racism, contributing to a stronger civic society. The benefit of these objectives and activities is improved health and wellbeing in people who participate, improved skills and knowledge and improved confidence and self-esteem, contributing towards a better quality of life. The activities also benefit the wider community by bringing people together from different areas impacted on by poverty, promoting better community relations and social cohesion. Harm: Potential harm caused by our activities would include injury through participating in recreation activities such as amateur football coaching that were not properly organised. Similarly, potential harm may come from our premises and stadium if they are not properly maintained and could injure members of the public. However, the risk of such harm arising is rare and the risk of any harm arising is outweighed by the overall benefit to the public. Purposes: Advance the education of children and young people through such means as the Directors think fit in accordance with the law of charity. Public Benefit: We achieve this purposes through delivering education programmes such as those involving arts, crafts and music for disadvantaged children and young people. These bring a range of benefits to children and young people including, improving participation in education, improving skills and knowledge, increasing participation in society and improving confidence and self esteem. Potential Harm: Potential harm from our activities may come from using equipment that is unsafe or undertaking activities in premises that are not fit for purpose or using tutors and volunteers who are unskilled. However, the risk of such harm arising is rare and the risk of any harm arising is outweighed by the overall benefit to the public.
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
By order of the board
Date:
Trustee
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INDEPENDENT ACCOUNTANTS’ REPORT TO THE MEMBERS OF LARNE FOOTBALL CLUB (NI) LTD
YEAR ENDED 31ST MARCH 2023
We report to the trustees on our examination of the accounts of Larne Football Club (NI) Ltd for the year ended 31 March 2023.
Respective responsibilities of charity directors and examiner;
As the charity directors you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent examination, it is our responsibility to;
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examine the accounts under section 65 of the Charities Act 2008;
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follow the procedures laid down in the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act 2008.
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state whether particular matters have come to our attention.
Basis of independent examiner's report
We have examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general directions given by the Charity Commission for No1thern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included a consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity directors concerning any such matters.
Our role is to state whether any material matters have come to our attention giving us cause to believe:
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that accounting records were not kept in accordance with section 386 of the Companies
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Act 2006;
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that the accounts do not accord with those accounting records;
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that the accounts do not comply with the accounting requirements of the Section 396 of the Companies Act 2006 and the methods and principles of the 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;
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that there is further information needed for proper understanding.
Independent examiner's statement
We have completed our examination and have no concerns in respect of the matters listed above and, in connection with following the directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention.
TMcD Accountancy Practice Chartered Accountants 35 Ballylough Road Donaghcloney BT66 7PQ Date:
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LARNE FOOTBALL CLUB (NI) LTD
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31ST MARCH 2023
| Incoming Resources Donations Rent Income Release of grant Resources Expended Management costs Office costs Legal and professional fees Donations Upkeep and maintenance Depreciation Loan interest Surplus (deficit) for the year Balance brought forward Balance carried forward |
2023 2022 Unrestricted Restricted Total Total £ £ £ £ 445,551 - 445,551 256,974 54,390 - 54,390 40,000 6,648 - 6,648 3,946 ------------ ------------ ------------ ------------ 506,588 - 506,588 300,920 ------------ ------------ ------------ ------------ - - - 20,000 4,307 - 4,307 380 13,647 - 13,647 26,564 21,512 - 21,512 16,368 495 - 495 - 75,304 - 75,304 58,706 1,743 - 1,743 - ------------ ------------ ------------ ------------ 117,008 - 117,008 122,018 ------------ ------------ ------------ ------------ 389,581 - 389,581 178,902 2,649,187 193,374 2,842,561 2,663,659 ------------ ------------ ------------ ------------ 3,038,768 193,374 3,232,142 2,842,561 ========= ========= ========= ========= |
|---|---|
All of the company’s activities are classed as continuing.
Movements on reserves and all recognised gains and losses are shown above.
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LARNE FOOTBALL CLUB (NI) LTD
BALANCE SHEET
AT 31ST MARCH 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| FIXED ASSETS | ||||
| Tangible fixed assets | 2 |
3,155,011 | 2,750,514 | |
| ─────----───── | ─────----───── | |||
| CURRENT ASSETS | ||||
| Debtors | 3 | 148,695 | 111,503 | |
| Bank and cash balances | 43,491 | 240,390 | ||
| ────────── | ────────── | |||
| 192,186 | 351,893 | |||
| CURRENT LIABILITIES | ||||
| Creditors | 4 | 30,419 | 186,676 | |
| ────────── | ────────── | |||
| NET CURRENT ASSETS | 161,767 | 165,217 | ||
| ────────── | ────────── | |||
| 3,316,778 | 2,915,731 | |||
| LONG TERM LIABILITIES | 4 | 84,636 | 73,170 | |
| ────────── | ────────── | |||
| TOTAL ASSETS LESS LIABILITIES | 3,232,142 | 2,842,561 | ||
| =========== | =========== | |||
| RESERVES | ||||
| Unrestricted reserves | 3,038,768 | 2,649,187 | ||
| Restricted reserves | 193,374 | 193,374 | ||
| ───-----─────── | ───-----─────── | |||
| Reserves | 5 | 3,232,142 | 2,842,561 | |
| =========== | =========== |
These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities.
These financial statements were approved by the directors on the 31[st] October 2023 and are signed on their behalf by:
………………………….. ………………………………
Trustee Trustee
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LARNE FOOTBALL CLUB (NI) LTD
FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2023
1. ACCOUNTING POLICIES
(a) Basis of accounting
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared on the going concern basis and under the historical cost convention, follow the recommendations in Statement of Recommended Practice: Accounting by Charities and in accordance with FRS 102. The reporting currency is Sterling.
(b) Incoming resources
Income from grants and donations is included in full in the Statement of Financial Activities when receivable. Other income is credited to incoming resources on an accruals basis.
(c) Tangible fixed assets
The cost of tangible fixed assets is their purchase cost together with any incidental costs of acquisition. Depreciation is calculated to write off the cost of tangible fixed assets, less their estimated residual values, on a straight line basis over the expected useful economic lives of the assets concerned. The principal annual rate used for this purpose is:
Land Nil% Buildings and grounds 2% p.a. Plant and fixtures 10% p.a.
(d) Grants
Capital grants are recognised as a long term creditor and released to the income and expenditure account over the same estimated useful life as the asset to which it relates is depreciated. The principal annual rate used for this purpose is:
Plant and fixtures 10% p.a.
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LARNE FOOTBALL CLUB (NI) LTD
FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2023
2. TANGIBLE FIXED ASSETS
| Plant & | Buildings | ||||
|---|---|---|---|---|---|
| fixtures | Land | & grounds | Total | ||
| Cost | £ | £ | £ | £ | |
| At | 1 April 2022 | 52,440 | 208,183 | 2,666,148 | 2,926,771 |
| Additions | 154,944 | 5,663 | 319,194 | 479,801 | |
| ------------ | ------------ | ------------ | ------------ | ||
| At | 31 March 2023 | 207,384 | 213,846 | 2,985,342 | 3,406,572 |
| ------------ | ------------ | ------------ | ------------ | ||
| Depreciation | |||||
| At | 1 April 2022 | 14,524 | - | 161,733 | 176,257 |
| Charge for year | 15,597 | - | 59,707 | 75,304 | |
| ------------ | ------------ | ------------ | ------------ | ||
| At | 31 March 2023 | 30,121 | - | 221,440 | 251,561 |
| ------------ | ------------ | ------------ | ------------ | ||
| Net book value | |||||
| At | 31 March 2023 | 177,263 | 213,846 | 2,763,902 | 3,155,011 |
| ======= | ======= | ======== | ======== | ||
| At | 31 March 2022 | 37,916 | 208,183 | 2,504,415 | 2,750,514 |
| ======= | ======= | ======== | ======== | ||
| . | DEBTORS | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Prepayments and accrued income | 145,000 | 105,000 | |||
| Other debtors | 3,695 | 6,503 | |||
| ───--───── | ───--───── | ||||
| 148,695 | 111,503 | ||||
| ========== | ============= |
3. DEBTORS
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LARNE FOOTBALL CLUB (NI) LTD
FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2023
| 4. | CREDITORS | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Amounts falling due within one year: | |||
| Accruals and deferred income | 25,500 | 27,000 | |
| Other creditors | 4,919 | 159,676 | |
| ──────---── | ──────---── | ||
| 30,419 | 186,676 | ||
| =========== | =========== | ||
| Amounts falling due after one year: | |||
| Loan | 34,003 | 42,904 | |
| Grants (see below) | 50,633 | 30,266 | |
| ──────---── | ──────---── | ||
| 84,636 | 73,170 | ||
| =========== | =========== | ||
| Grant: | |||
| Balance forward | 30,266 | 25,912 | |
| Received during the year | 27,015 | 8,300 | |
| Released | (6,648) | (3,946) | |
| ──────---── | ──────---── | ||
| Net book value | 50,633 | 30,266 | |
| =========== | =========== |
5. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Tangible fixed assets | - | 3,155,011 | 3,155,011 |
| Net current assets | 193,374 | (31,607) | 161,767 |
| Long term liabilities | (84,636) | (84,636) | |
| ────----──── | ────----──── | ────----──── | |
| Net assets at 31 March 2023 | 193,374 | 3,038,768 | 3,232,142 |
| ============ | ============ | ============ |
6 RELATED PARTY TRANSACTIONS
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.
7. LIABILITY OF MEMBERS
Larne Football Club (NI) Ltd is a company limited by guarantee and does not have a share capital.
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