CITY OF BELFAST BOXING ACADEMY
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
Terry McCorram Trading As City of Belfast Boxing Academy Contents of the Unaudited Accounts For The Year Ended 31 March 2023
Contents
| Contents | |
|---|---|
| Page | |
| Business Details | 1 |
| Approval | 2 |
| Accountants' Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 |
Terry McCorram Trading As City of Belfast Boxing Academy Business Details For The Year Ended 31 March 2023
Charity No: 104330 Trustee board: Miss Fiona Nelson Mr Jonathan Calder Mr Terry McCorran Mrs Madeline Garret Accountants: Proactive Chartered Accountants Limited Chartered Accountants Opus House 137 York Road Belfast BT15 3GZ
Page 1
Terry McCorram Trading As City of Belfast Boxing Academy Accounts Approval Statement For The Year Ended 31 March 2023
I approve these unaudited accounts which comprise a Profit and Loss Account, Balance Sheet and related notes. I acknowledge my responsibility for the accounts including the provision of all the information and explanations necessary for the completion.
Signed
............................................................ Mr Terry McCorram
10/11/2023
Page 2
Terry McCorram Trading As City of Belfast Boxing Academy Accountants' Report For The Year Ended 31 March 2023
In accordance with the engagement letter dated 11[th] January 2018, we have prepared the accounts, which comprise the Profit and Loss account, the Balance Sheet and the related notes, from the accounting records, information and explanations provided to us.
This report is made to you in accordance with the terms of our engagement. Our work has been undertaken to enable us to prepare the accounts on your behalf and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than to you, the client, for our work or for this report.
You have approved and acknowledged your responsibility for these accounts.
We have not been instructed to complete an audit of the accounts. For this reason, we have not verified the accuracy or completeness of the accounting records, information or explanations you have provided. Therefore we do not express any opinion on the accounts.
Signed
............................................................
Jon M Dickinson
Association of Chartered Certified Accountants
Opus House 137 York Road Belfast BT15 3GZ
10/11/2023
Page 3
Terry McCorram Trading As City of Belfast Boxing Academy Profit and Loss Account For The Year Ended 31 March 2023
| Turnover Donations Grants and subsidies received Bank interest received Expenditure Cleaning Boxing equipments and consumables Vehicle running costs Other equipments Repairs, renewals and maintenance Yoga for members First aid training Printing, postage and stationery Posts and advertisements Telecommunications Accountancy fees Coaching fees Bank charges Sundry expenses Depreciation Depreciation NET LOSS |
£ 183 1,845 100 - 534 - - 325 204 - 600 170 77 - |
2023 £ 6,005 - - 6,005 4,038 1,967 3,766 (1,799) |
£ 24 351 158 300 237 50 250 275 67 200 600 487 29 (1) |
2022 £ 2,912 548 1 |
|---|---|---|---|---|
| 3,461 3,027 |
||||
| 3,766 | 2,998 | |||
| 434 2,998 |
||||
| (2,564) |
Page 4
Terry McCorram Trading As City of Belfast Boxing Academy Balance Sheet As At 31 March 2023
| Notes FIXED ASSETS Tangible Assets 2 CURRENT ASSETS Cash at bank and in hand NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS CAPITAL ACCOUNT Balance at 1 April 2022 Profit/(Loss) for the period/year Balance Carried Forward |
£ 264 |
2023 £ 21,070 264 |
£ 2,525 |
2022 £ 20,608 2,525 |
|---|---|---|---|---|
| 21,334 | 23,133 | |||
| 21,334 | 23,133 | |||
| 23,133 (1,799) |
25,697 (2,564) |
|||
| 21,334 | 23,133 |
Page 5
Terry McCorram Trading As City of Belfast Boxing Academy Notes to the Accounts For The Year Ended 31 March 2023
1. Accounting Policy
These unaudited accounts have been completed in accordance with UK Generally Accepted Accounting Practice guidelines and provides sufficient and relevant information to enable completion of a tax return.
2. Tangible Assets
| Cost As at 1 April 2022 Additions As at 31 March 2023 Depreciation As at 1 April 2022 Provided during the period As at 31 March 2023 Net Book Value As at 31 March 2023 As at 1 April 2022 |
Land & Property Freehold £ 24,990 - |
Plant & Machinery £ 1,541 4,228 |
Computer Equipment £ 572 - |
Total £ 27,103 4,228 |
|---|---|---|---|---|
| 24,990 | 5,769 |
572 |
31,331 |
|
| 4,998 2,499 |
1,155 1,153 |
342 114 |
6,495 3,766 |
|
| 7,497 | 2,308 |
456 |
10,261 |
|
| 17,493 | 3,461 |
116 |
21,070 |
|
| 19,992 | 386 |
230 |
20,608 |
Page 6