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: - examine the accounts under section 65 of the Charities Act - 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 - state whether particular matters have come to my attention. ## **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 4. 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 of**this 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 Page 9 ## **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