Hillsborou hBo s Football Club STATEMENT OF FINANCIAL ACTIVITIES includin an Income & Ex enditure Account For the ear ended 30 June 2024 Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 INCOMING RESOURCES (Note 2> Incoming Resources from Charitable Activities Incoming Resources from generated funds Investmcnt Income Other income TOTAL INCOMING RESOURCES 774 6,500 7.274 7,474 183,977 52,307 236,284 220,954 46 9,894 194,691 46 36 58,807 253.498 228,464 RESOURCES EXPENDED (Note 3) Charitable activities Governance Costs TOTAL RESOURCES EXPENDED 204.002 350 58.807 262,809 350 236.604 350 204,352 58,807 263,159 236,954 Net incoming l (outgoing) resources for the year Transfer behveen funds (9,661) (9,661 {8,490) Balance brought forward Balance carried foN4ard 4.226 (5.435) 4,226 (5,435) 12,716 4,226 The above Statement of Financial Activities includes all information as required to be disclosed by the Companies Act 2006. All of the activities of the company are classed as continuing. There is no difference between the net incoming resources for the year stated above and their historical cost equivalents. Page 5
Hillsborou hBo s Football Club BALANCE SHEET as at 30 June 2024 Note 2024 2Q23 Fixed Assets Tangible Assets 29,682 29,682 39,546 39.456 Current Assets Stocks Debtors Cash at bank and in hand 2.880 9,765 6,109 18,754 3,124 30,584 33,708 Creditora: amounts falling Due within one year 14.072 13,727 Net Current assets 4.682 19,981 Assets less Current Llabilities 34.364 59,557 Creditors: amounts falllng Due after more than one year 39.799 55,331 Net asetsl(liabilities) (5,435) 4,226 REPRESENTED BY: Unrestricted Funds Restricted Funds Total Funds 10 10 10 (5,435) 4,226 5,435 4,226 The trustees and members have not required the charity to obtain an audit of it's financial statements for the year ended 30 June 2024. The trustees acknowledge their responsibilities for. {a) Ensuring that the charity keeps accounting records which comply with current legislats'on and (b) Preparing financial statements which give a true and fair view of the state of the charity as at the end of each financial year and of it's surplus or deficit for each financial year. The notes on pages 7 to 13 form an integral part of these financial statefflents. These financial statements were approved and authorised for issue by the Trustees on 28 March 2025 and signed on their behalf by.. Paul Alexa der- Chaimian Charity Registration No: 103070 Page 6
Hillsborou h Bo s Football Club NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 30 June 2024 1. ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charities, financial statements. A. Basis of accounting The financial statements have been prepared under the historical cost convention and in accordance with applicable Accounting Standards in the United Kingdom including the Statement of Recommended Practice on 'Accounting and Reporting by Charities (revised 2005) and the Companies Act 2006. A summary of the more important accounting policies. which have been applied consistently, is set out below. B. Cash Flow Statement The directors have taken advantage of the exemption in Financial Reporting Standard No.1 (Revised 1996) from including a cash flow statement in the financial statements on the grounds that the company is srnall. C. Tangible Fixed Assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuatK)n of assets less their residual valucs over their useful lives on the following basis: Motor Vehicles - 25% straight line D. Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and other costs incurred in bringing stock to its present location. Provision is made for damaged, obsolete and slow-moving stock whe appropriate. E. Capital Grants Capital grants received and receivable are treated as deferred income and amortised to the profit and loss account over the useful economic life of the asset to which it relates. F. Incoming Resources (i) Incoming resources from generated funds Voluntary income includes incoming resources from membership fees, dues, gifts, donations and grants and is recognised in full in the Statement of Financial Activities when receivable. Activities for generating funds are commercial activities which are cognised as eamed when the related goods and services are provided. Incoming Resources from charitable activities Incoming resources from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions. It is recognised as earned as the related services or goods are provided. Grant income included in this category provides funding to support projects and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Page 7
Hillsborou hBo 8 Football Club NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 30 June 2024 continued G. Resources Expended Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods and services are supplied. Wffiere costs cannot be direclly attributed to a particular heading they have been allocated to acts'vities on a basis ¢onsistent with use of resources. Charitable a¢tivities This compromises all the resources applied by the charity in undertaking its work to meet its charitable objectives. GovernanGe Costs Includes the costs of governance arrangements which relate to the general running of the charity. H. Fund Accounting The charity has two types of fijnds for which it is responsible at the year-end: Unrestricted Funds - Funds which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity. In addition, funds may be held in order to finance capital investment and working capital. Restricted Funds - Income received for specÉfic purposes. Such purposes are within the overall aims of the chanty. Taxation status The organisation bs recognised as a charity for tax purposes by HM Revenue & Customs. Accordingly, it has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxatson of Chargeable Gains Act 1992. As a charity Hillsborough Boys FC are not liable to Corporation Tax. Page 8
Hillsborou hBo s Football Club NOTES TO THE FINANCIAL STATEMENTS For th8 Year Ended 30 June 2024 continued 2. INCOMING RESOURCES Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Incomin Activities Resources from Charitable Grants & sponsorship 774 T14 6,500 6,500 7,274 7,274 7.474 7,474 Incomin Resources from Generated Funds Donations & Membership Organised activities Tours & trips Awards dinner of f<2Gilitie5 Fundraising events Sportswear & equipment Event income Tournament entry Sundry 148,837 16,788 148,837 147,782 16,788 12,513 23,120 10,756 18,173 17,539 11,114 8,112 5,098 1,762 11,014 21,151 2,140 1,339 23,120 18,173 11,114 5,098 11,014 2,140 183,977 52,307 236,284 220,954 Investment Income 36 other income Capital Grant 9,894 9,894 Total Incoming Resources 194,691 58.807 253,498 228,464 Page 9
Hillsborou h Bo s Football Club NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 30 June 2024 contlnued 3. RESOURCES EXPENDED Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Charitable Activities Direct Charitable Expenditure Sportswear & equipment Football Factory rental Salaries and ER NIC Awards dinner Trips & tours League & referee fees Facility hire Coaching badges & training Casual coaches Light and heat Tournament entry Organised activities Event expenses Minibus expenses Sundry NIYFA Insurance Trophies 33,825 18.000 7,412 7,288 5.411U 40,026 25,636 8,454 7.945 7.728 2,840 4,270 4,135 2.455 3.025 1.586 240 11,014 44.839 43,274 18,000 18,318 7,412 28,255 30,461 34,884 28,600 16,168 40,026 31,039 27.136 22,413 8,454 3,257 7,945 9,310 7,728 4.955 2,840 2,893 4,270 4,135 2,455 3,025 2,214 1,586 1.206 240 462 239,152 222,545 23,173 23,120 1.500 3,897 180.345 58,807 Fundraising and Advertising 1,976 1,976 1,528 Management and Admlnistration of the charity Repairs and equipment Printing & Stationary Telephone and broadband Club communicab'ons Depreciation Loan interest Bank fees and Interest 6.849 2,638 6,849 2,638 2,265 7,622 221 783 716 9.894 488 1,096 21.681 716 9.894 488 1,096 21,681 623 1,017 12,531 Total expenditure on charitable activities 204,002 58,807 262,809 236,604 Governance Costs Accountancy 350 350 350 Total governance costs 350 350 350 Total Resources Expended 204,352 58,807 263,159 236,954 Page 10
Hillsborou hBo s Football Club NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 30 June 2024 continued 4. EMPLOYEE INFORMATION 2024 2023 Average number of staff employed by the company during the year 5. TRUSTEES EMOLUMENTS 2024 2023 Trustee's emoluments 6. ACCOUNTANT'S REMUNERATION 2024 2023 Accountant's remuneration 350 350 350 350 Page11
Hillsborou hBo s Football Club NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 30 June 2024 continued 7. TANGIBLE FIXED ASSETS Total Motor Vehicles Cost At 30 June 2023 39,576 Addrtions Disposals At 30 June 2024 39,576 Depreciation At 30 June 20?3 Charge for year 9,894 Disposals At 30 June 2024 Net Book Values At 30 June 2024 29,682 At 30 June 2023 39.576 8. DEBTORS 2024 2023 Accrued Income Prepayments 9,765 9,765 3.124 3,124 9. CREDITORS: amounts falling due within one year 2024 2023 Deferred income Accruals Bank Loan Unsecured Loan 1,000 3,949 6,123 3.000 14.072 3.780 3,824 6,123 13.727 CREDITORS: amounts falling due after more than one year 2024 2023 Bank Loan Capital Grant Reserve 10,117 29,682 39.799 15.755 39,576 55,331 Page 12
Hillsborou NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 30 June 2024 continued 10. ANALYSIS OF MOVEMENT IN RESTRICTED AND UNRESTRICTED FUNDS Opening Balance Income Expenditure Transfer Between funds Closing Balance Grants & sponsorship Awards dinner Sportswear & equip Tours & trips 6,500 18.173 11.014 23,120 (6.500) (18.173) (11,014) (23.120) Total Restrlcted Funds 58,807 (58.807) Unrestricted Funds 4,226 194.691 (204,352) 5,435 Total 4.226 253.498 (263,159) 5,435 Restricted Unrestricted Funds Funds Total Flxed Assets Current Assets Current Liabilities < 1 yr Liabilities > 1 yr Net Assets 29.682 29,682 18,754 18,754 {14,072) (14,072) 39.799 39.799 5,435 5,435 11. RESTRICTED FUND DESCRIPTIONS Restricted funds comprises income received for specific purposes. Such purposes are within the overall aims of the charity- Page 13