Love Hockey Ireland Financial Statements Year Ended 31[st] August 2023
Charity registration number: NIC102273 Company registration number: NI604230
Love Hockey Ireland
Financial Statements
Year Ended 31[st] August 2023
Contents
| Page | |
|---|---|
| Charity Reference and Administrative Details | 1 |
| Trustees’ Annual Report (Including Directors’ Report) | 2 – 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities (Including Income and Expenditure Account) | 6 |
| Statement of Financial Position | 7 |
| Notes to the Financial Statements | 8 – 11 |
| Detailed Income Statement | 12 |
| Charity registration number | NIC102273 |
|---|---|
| Company registration number | NI604230 |
| Trustees | C McKiver |
| C Pereira | |
| David Mc Reynolds | |
| R Doyle | |
| Registered office | 24 Woodford Drive |
| Armagh | |
| Co. Armagh | |
| Bt60 2AY | |
| Accountant | WHR Accountants Ltd |
| Chartered Certified Accountants | |
| 26 The Square | |
| Moy | |
| Co Tyrone | |
| BT71 7SG | |
| Solicitors | C.K Rafferty Solicitors |
| 2 Ogle Street | |
| Armagh | |
| BT61 7EN |
Page 1
Love Hockey Ireland
Trustees’ Annual Report (Including Directors Report)
Year Ended 31[st] August 2023
The Trustees present their report and the financial statements of the charity for the year ended 31[st] August 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2008 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 published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016)
General Information
The address of the charitable company’s registered office is 24 Woodford Drive, Armagh, Co. Armagh, BT60 2AY
Trustees of the charity
The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end were as follows:
C McKiver C Pereira D Mc Reynolds R Doyle
Principal purpose:
The charity’s objects are specifically restricted to the advancement of amateur sport and physical education, to promote equality and diversity and to promote community participation in healthy recreation by the provision or assistance in the provision of facilities for the playing of inline hockey and other sports capable of improving health. Powered By Sport believes sport has the power to positively impact on people’s mental, physical and emotional wellbeing. We believe it can play a key role in helping to build community relations in our divided society. We are committed to using sport to promote equality and diversity and to promote community participation in healthy recreation activities.
Review of financial position
Love Hockey Ireland is self-funded by our own social enterprise facility. We do receive grants from time to time for projects and capital investments; however, we have no regular secured funding for operating or staff costs. During the financial year ending, our income was generated via: Sales: £211,100
Grants: £43,091
Page 2
Love Hockey Ireland
Trustees’ Annual Report (Including Directors Report)
Year Ended 31[st] August 2023
Statement of compliance
The trustees of the Love Hockey Ireland, during the year, complied with their duty to have due regard to the guidance provided by the Charity Commission for Northern Ireland when exercising any powers or duties to which the guidance is relevant.
Acknowledgements and thanks
Trustees’ responsibilities
The trustees (who are also directors of Love Hockey Ireland for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
Love Hockey Ireland
Statement of Financial Activities
Year Ended 31[st] August 2023
Future Plans
In April 2024 we launched a new 3-year charity development plan for growing a variety of multisport activities designed to promote community participation in healthy recreation. We have also created a 3-year community development plan for developing sporting support programmes in each of the following areas:
-
Youth community integration
-
Rural Isolation • Mental Health
-
Wheelchair sports
Summary of main Achievements
During 2023 we facilitated over 20,000 users through our social enterprise who took part in healthy recreation activities. We launched a new all ability Sledge hockey hub in Armagh City and Secured funding for the purchase of 10 new wheelchair inline sledge hockey systems to help grow this activity, we now have 32. This year we have focused on developing our long-term impact through the creation of a new 3 year development plan and welcomed two new members onto the board to help us grow as an organisation.
Small company provisions
This report has been prepared in accordance with provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of trustees on 30/06/2024 and signed on behalf of the board by:
Dr Caroline Pereira
Charity registration number: NIC102273 Company registration number: NI604230
Page 4
Love Hockey Ireland
Statement of Financial Activities
Year Ended 31[st] August 2023
I report on the accounts of the company for the year ended 31[st] August 2023 which are set out on pages 6 to 11.
Respective responsibilities of trustees and examiner
As the charity trustees (and the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
-
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; and
-
state whether particular matters have come to my attention.
Basis of independent examiner's report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern 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 includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
That accounting records were not kept in accordance with section 386 of the Companies Act 2006
-
That the accounts do not accord with those accounting records
-
That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with 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
-
That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
Andrew Gilpin WHR Accountants Ltd Chartered Certified Accountants 26 The Square Moy Co Tyrone BT71 7SG 15[th] April 2024
Page 5
Love Hockey Ireland
Statement of Financial Activities
| Year Ended 31st August 2023 | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | 2023 | 2022 | ||
| Income | £ | £ | £ | £ | |
| Activity Receipts | 211,100 | - | 211,100 | 152,894 | |
| Grants | 26,587 | 16,504 | 43,091 | 88,427 | |
| Other Income - CJRS | 1,684 | ||||
| Other Income - Interest | 150 | - | 150 | - | |
| _ | _ | _ | _ | ||
| 237,837 | 16,504 | 254,341 | 243,005 | ||
| _ | _ | _ | _ | ||
| Expenditure | |||||
| Cost of Fundraising | 2 | - | - | - | - |
| Cost of Educational Activities | 36,823 | - | 36,823 | 29,780 | |
| Cost of Charitable Activities | 3 | 213,292 | 4,291 | 217,853 | 168,790 |
| Governance Costs | 7,669 | - | 7,669 | 7,697 | |
| _ | _ | _ | _ | ||
| Total payments | 258,054 | 4,291 | 262,345 | 206,267 | |
| _ | _ | _ | _ | ||
| Net income/(expenditure) | |||||
| Transfers to/(from) funds | - | - | - | - | |
| _ | _ | _ | _ | ||
| Surplus for the year | (20,217) | 12,213 | (8,004) | 36,738 | |
| _ | _ | _ | _ |
Page 6
Love Hockey Ireland
Statement of Financial Position
Year Ended 31[st] August 2023
| Note Fixed assets Tangible assets Current assets Cash at bank and in hand Total current assets Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Creditors Amounts falling due after more than one year Accruals and Deferred Income Net assets Charity Funds Income and expenditure account 5 Total charity funds 5 |
2023 £ 261,124 48,572 (42,594) 5,978 267,102 (29,801) (94,733) 142,568 142,568 142,568 |
2022 £ 261,072 83,670 |
|---|---|---|
| (49,230) | ||
| 34,440 | ||
| 295,512 | ||
| (33,703) (111,237) |
||
| 150,572 | ||
| 150,572 | ||
| 150,572 |
The directors are satisfied that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and that members have not required an audit in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of Companies Act 2006 with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the special provision in Part 15 of the Companies Act 2006 to companies subject to the small companies regime.
The financial statements were approved and authorised for issue by the Board on 15[th] April 2024.
Signed on behalf of the board of trustees.
……………………………………………………
Dr Caroline Pereira
The notes on pages 8 to 11 form part of these financial statements.
Company registration number: NI604230
Page 7
Love Hockey Ireland
Notes to the Financial Statements
Year Ended 31[st] August 2023
- 1 Summary of significant accounting policies
(a) General information and basis of preparation
Love Hockey Ireland is a company limited by guarantee in Northern Ireland. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information of these financial statements.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements 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) issued on 16[th] July 2014 (as updated through Update Bulletin 1 published on 2[nd ] February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2008, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1[st] January 2015.
The charity has applied Update Bulletin 1 as published on 2[nd] February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Income recognition
Income is recognised when the charitable company has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
(c) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
(d) Support costs allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and premises costs. They are incurred directly in support of expenditure on the objects of the charity.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
The analysis of these costs is included in note 3.
Page 8
Love Hockey Ireland
Notes to the Financial Statements
Year Ended 31[st] August 2023
(e) Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
(f) Taxation
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
(g) Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
(h) Judgements and key sources of estimation uncertainty
The trustees do not feel there any material judgements or key sources of estimation uncertainty in these accounts.
2 Analysis of cost of fundraising
| Cost of Fundraising | Expenses Support costs Total £ £ £ - - - |
|---|---|
| - - - |
Page 9
Love Hockey Ireland
Notes to the Financial Statements
Year Ended 31[st] August 2023
3 Analysis of expenditure on charitable activities
| Wages Rent Insurance Light and Heat Repairs to Property Telephone Post and Stationary Advertising Travelling Household and Cleaning Training Computer Costs Sundry Expenses Depreciation Finance Costs |
Activities undertaken directly Support costs Total £ £ £ 139,498 - 139,498 - 20,450 20,540 - - 6,478 1,033 583 1,976 811 3,717 9,837 2,896 2,204 10,316 6,621 5,686 5,657 - - - - - - - - - - - 5,686 5,657 6,478 1,033 583 1,976 811 3,717 9,837 2,896 2,204 10,316 6,621 |
|---|---|
| 186,060 31,793 217,853 |
Page 10
Love Hockey Ireland
Notes to the Financial Statements
Year Ended 31[st] August 2023
4 Trustees' and key management personnel remuneration and expenses
The trustee (Steven Lynch) received remuneration during the year (2023: £31,615).
The trustees did not have any expenses reimbursed during the year (2023 - £Nil).
5 Fund reconciliation
| Unrestricted Restricted |
Balance at 1st September 2022 Income Expenditure Balance at 31st August 2023 £ £ £ £ 39,005 237,837 258,054 18,788 111,567 16,504 4,291 123,780 |
|---|---|
| 150,572 254,341 262,345 142,568 |
Page 11
Love Hockey Ireland
Notes to the Financial Statements
Year Ended 31[st] August 2023
| Turnover Sales Grants Received Cost of sales Other direct costs Contracted Coaching Sports equipment and medals GROSS SURPLUS Other income Government grants - CJRS Deposit account interest Expenditure Wages Pensions Rent Insurance Light and heat Repairs to property Telephone Post and stationery Advertising Travelling Household and cleaning Training Computer costs Sundry expenses Accountancy Consultancy fees Legal fees Donations Depreciation of tangible fixed assets Freehold property Depn of Equipment Depn of Equipment Store Depn of fixtures and fittings Computer equipment Finance costs Bank charges Bank loan interest Interest payable NET (DEFICIT)/SURPLUS |
£ 211,100 43,091 23,616 12,476 731 - 150 135,916 3,582 20,540 5,686 5,657 6,478 1,033 583 1,976 811 3,717 9,837 2,896 2,204 1,408 1,980 4,281 - 4,291 3,882 17 1,872 254 4,105 1,386 1,130 |
2023 £ 254,191 36,823 217,368 150 217,518 218,901 (1,383 ) 6,621 (8,004 ) |
2022 £ £ 152,894 88,427 241,321 21,414 7,025 1,341 29,780 211,541 1,684 - 1,684 213,225 104,348 1,196 18,820 3,565 3,446 5,994 1,332 1,386 1,038 490 2,965 1,119 2,185 849 2,688 1,800 3,209 678 4,291 3,540 18 4,897 670 170,524 42,701 2,879 2,125 959 5,963 36,738 |
||
|---|---|---|---|---|---|
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