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2023-03-31-accounts

102316

Charity No:

Midland Boxing Club Financial Statements For the Year Ended 31/03/23

Page 1

Midland Boxing Club
Information
Committee Members Jordan Stockard
Craig Frampton
Cooper McClure
Anne McClure
Sam Cochrane
Mark English
Louis Ritchie
Peter Sloan
Address 9 Cultra Street
Belfast
BT15 1GT
Accountants Insight Business Services
53 Bernice Road
Newtownabbey
BT36 4QZ

Page 2

Midland Boxing Club

Page
Trustees' Report 4
Accountant's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Trustees Statement 8
Notes to the Financial Statements 9-11

Page 3

Midland Boxing Club

Trustees' Report

For the Period Ended 31/03/23

The Trustees present their report and financial statements for the period ended 31/03/23

Principal activity

The principal activities of the charity are to promote the preservation and protection of health by provision of the facilities for recreation or other leisure-time occupation in the interests of social welfare for the benefit of public in North Belfast (hereafter called the ‘area of benefit’) without regard to age, ability, disability, ethnic identity, nationality or religion and in particular to educate and assist people of all ages through boxing and other recreational activities so as to develop their physical fitness, mental and emotional capacities that they may grow to full maturity as individuals and citizens and that their conditions of life may be improved.

Committee Members

The committee members who served during the period are as stated below:

Committee Jordan Stockard Sam Cochrane Craig Frampton Mark English Cooper McClure Louis Ritchie Anne McClure Peter Sloan

Annual Report

A full copy of the annual report of activities and achievements in the year is set out in the appendices.

Structure, Governance and Management

The organisation is a charity and is governed under its constitution.

The management committee are also the charity trustees for the purposes of charity law All trustees give their time voluntarily and receive no benefits from the charity.

Our financial performance has been sound. Total income has risen with new funding and costs have been managed to ensure that we have a small surplus for the year.

This report was approved by the Committee on ............................ and signed on its behalf by

Signed ................................. Name .................................

Page 4

Midland Boxing Club

Independent Examiner's Report to the Members of Midland Boxing Club

I report on the accounts of the charity for the year ended 31/03/23 , which are set out on pages 6 - 11.

Respective responsibilities of Directors and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 and the Charities Act (NI) 2008) and that an independent examination is needed. The charity’s gross income was less than £10,000 and I am qualified to undertake the examination by being a qualified member of the Chartered Institute of Management Accountants

Having satisfied myself that the charity is not subject to audit under charity law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

I have examined the 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 included 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:

  1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006

  2. That the accounts do not accord with those accounting records

  3. 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

  1. 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.

Derek Browne ACMA Insight Business Services

53 Bernice Road Newtownabbey, BT36 4QZ

Page 5

Midland Boxing Club

Statement of Financial Activities for the period ended 31/03/23

Statement of Financial Activities
for the period ended 31/03/23		 Statement of Financial Activities
for the period ended 31/03/23
2023
2022
Restricted Unrestricted
Total
Funds
Funds
Notes
£
£
£
£
Incoming Resources
Fees
2
0
1,260
1,260
930
Grant
8,796
0
8,796
16,305
Other Income (inc donations)
0
794
794
6,303
Total Income
8,796
2,054
10,850
23,538
Expenditure
Charitable Activities
Equipment
0
1,354
1,354
7,936
Afliation Fees
0
0
0
220
Competition costs
0
0
0
0
Programme
9,130
0
9,130
3,182
Misc
0
30
30
180
Maintenance
0
232
232
212
Coaching
1,500
0
1,500
750
Training
0
0
0
132
Bank Charges
0
0
0
0
Accounts
0
500
500
600
Total Expenditure
10,630
2,116
12,746
13,212
Net Incoming/(Outgoing) Resources
-1,835
-62
-1,896
10,326
Net Movement of Funds in the Period
-1,835
-62
-1,896
10,326

There are no recognised gains or losses other than the profit or loss for the above financial year. All activities relate to continuing operations

Page 6

Midland Boxing Club

Balance Sheet
As at
31/03/23		 Balance Sheet
As at
31/03/23
Notes 2023
£		 2022
£
£
Fixed Assets
Tangible Assets
0.00 0
Current Assets
Debtors
5
Cash at bank and in hand
0
48,085		 0
18,952
48,085 18,952
Creditors: amounts falling due
within one year
6
2,109 1,080
Net Current Assets 45,976 17,872
Total Assets less current liabilities 45,976 17,872
Creditors: amounts falling due
after more than one year
Deferred grant income
30,000 0
Net Assets 15,976 17,872
Capital and Reserves
Reserve Fund
General Funds
Total Funds
17,872
-1,896
15,976		 7,546
10,326
17,872
The trustees' statements are shown on page 12
which forms part ofthis Balance Sheet

Page 7

Midland Boxing Club

Balance sheet (continued)

Trustees' statement for the year ended 31/03/23

In approving these financial statements as trustees of the charity we hereby confirm that we acknowledge our responsibilities for:

1) ensuring that the charity keeps proper accounting records

(2) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its surolus or deficit for the year then ended.

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

signed on its behalf by .................................

Name .................................................

Page 8

Midland Boxing Club

Notes to the financial statements For the year ended 31/03/23

1. Accounting Policies

1.1 Accounting convention

The financial statements are prepared under the historical cost convention.

The accounts have been prepared in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) (effective January 2015), and the requirements of 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 (FRS 102) (effective January 2015) (Charities SORP 2015 (FRS 102)).

1.2 Incoming resources

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included.

Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.

1.3 Resources Expended

Resources expended are recognised in the year in which they are incurred.

Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

1.4 Fixed Assets and Depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Property improvements Fixtures, fittings and equipment Plant & machinery

10% straight line 25% reducing balance 25% reducing balance

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Midland Boxing Club

Notes to the financial statements For the year ended 31/03/23

2. Grant Income Grant Income
2023 2022
£ £
Government and other Grants 8,796 16,305
3. Operating gain/(defcit)
2023 2022
Operating gain is stated after charging: £ £
Depreciation and other amounts written of 0 0

Accountant's
remuneration		 500 600
4. Employees
2023 2022
Number of employees
The average monthly number of employees
(excluding the Directors) during the year were: 0 0
5. Debtors
2023 2022
Trade Debtors 0 0
Other Debtors 0 0
6. Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 0 0
Other Creditors 2,109 1,080
Other taxes and social security costs 0 0
Accruals and deferred income 0 0
2,109 1,080

Page 10