REGISTERED COMPANY NUMBER: NI059838 (Northern Ireland) REGISTERED CHARITY NUMBER: XT23088
Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 June 2019 for Taekwon-Do (NI) Ltd
R Savage & Company Accountants & Taxation Consultants Old Bank House 2 Crossgar Road Saintfield Ballynahinch Co. Down BT24 7BD
Taekwon-Do (NI) Ltd
Contents of the Financial Statements for the Year Ended 30 June 2019
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 |
Taekwon-Do (NI) Ltd
Report of the Trustees for the Year Ended 30 June 2019
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2019. The trustees have adopted the provisions 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 and Republic of Ireland (FRS 102) (effective 1 January 2015).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
NI059838 (Northern Ireland)
Registered Charity number
XT23088
Registered office
20a British Road Aldergrove Crumlin Co. Antrim BT29 4DH
Trustees
L G Maguire
Company Secretary
Mrs M T A M Maguire
Independent examiner
R Savage & Company Accountants & Taxation Consultants Old Bank House 2 Crossgar Road Saintfield Ballynahinch Co. Down BT24 7BD
Approved by order of the board of trustees on 11 October 2019 and signed on its behalf by:
Trustee
Page 1
Independent Examiner's Report to the Trustees of Taekwon-Do (NI) Ltd
Independent examiner's report to the trustees of Taekwon-Do (NI) Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2019.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors 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 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached
R Savage and Company Ltd R Savage & Company Accountants & Taxation Consultants Old Bank House 2 Crossgar Road Saintfield Ballynahinch Co. Down BT24 7BD
11 October 2019
Page 2
Taekwon-Do (NI) Ltd
Statement of Financial Activities for the Year Ended 30 June 2019
| 30.6.19 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 14,382 Other trading activities 2 12,750 Investment income 3 70 Total 27,202 EXPENDITURE ON Raising funds 4 4,338 Charitable activities Competitions 20,040 Other 13 Total 24,391 NET INCOME 2,811 RECONCILIATION OF FUNDS Total funds brought forward 8,568 TOTAL FUNDS CARRIED FORWARD 11,379 |
30.6.18 Total funds £ 20,291 6,147 - |
|---|---|
| 26,438 3,207 22,895 - |
|
| 26,102 | |
| 336 8,232 |
|
| 8,568 |
The notes form part of these financial statements
Page 3
Taekwon-Do (NI) Ltd
Balance Sheet At 30 June 2019
| 30.6.19 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 93 CURRENT ASSETS Debtors 8 668 Cash at bank 10,618 11,286 NET CURRENT ASSETS 11,286 TOTAL ASSETS LESS CURRENT LIABILITIES 11,379 NET ASSETS 11,379 FUNDS 9 Unrestricted funds 11,379 TOTAL FUNDS 11,379 |
30.6.18 Total funds £ 93 8,395 80 |
|---|---|
| 8,475 | |
| 8,475 | |
| 8,568 | |
| 8,568 | |
| 8,568 | |
| 8,568 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on 11 October 2019 and were signed on its behalf by:
Trustee
The notes form part of these financial statements
Page 4
Taekwon-Do (NI) Ltd
Notes to the Financial Statements
for the Year Ended 30 June 2019
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| Fundraising events Sponsorships |
30.6.19 £ 9,350 3,400 12,750 |
30.6.18 £ 6,147 - |
|---|---|---|
| 6,147 |
3. INVESTMENT INCOME
| 30.6.19 | 30.6.18 | |
|---|---|---|
| £ | £ | |
| Exceptional items | 70 | - |
Page 5
Taekwon-Do (NI) Ltd
Notes to the Financial Statements - continued for the Year Ended 30 June 2019
4. RAISING FUNDS
Investment management costs
| 30.6.19 | 30.6.18 | |
|---|---|---|
| £ | £ | |
| Rent collection | 4,338 | 3,207 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2019 nor for the year ended 30 June 2018 .
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2019 nor for the year ended 30 June 2018 .
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 20,291 |
| Other trading activities | 6,147 |
| Total | 26,438 |
| EXPENDITURE ON | |
| Raising funds | 3,207 |
| Charitable activities | |
| Competitions | 22,895 |
| Total | 26,102 |
| NET INCOME | 336 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 8,232 |
| TOTAL FUNDS CARRIED FORWARD | 8,568 |
Page 6
Taekwon-Do (NI) Ltd
Notes to the Financial Statements - continued
for the Year Ended 30 June 2019
| 7. TANGIBLE FIXED ASSETS Fixtures and fittings £ COST At 1 July 2018 and 30 June 2019 218 DEPRECIATION At 1 July 2018 and 30 June 2019 125 NET BOOK VALUE At 30 June 2019 93 At 30 June 2018 93 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.19 30.6.18 £ £ Other debtors 668 8,395 9. MOVEMENT IN FUNDS Net movement At 1.7.18 in funds At 30.6.19 £ £ £ Unrestricted funds General fund 8,568 2,811 11,379 TOTAL FUNDS 8,568 2,811 11,379 Net movement in funds, included in the above are as follows: Incoming Resources Movement in resources expended funds £ £ £ Unrestricted funds General fund 27,202 (24,391) 2,811 TOTAL FUNDS 27,202 (24,391) 2,811 Comparatives for movement in funds Net movement At 1.7.17 in funds At 30.6.18 £ £ £ Unrestricted Funds General fund 8,232 336 8,568 TOTAL FUNDS 8,232 336 8,568 |
7. TANGIBLE FIXED ASSETS Fixtures and fittings £ COST At 1 July 2018 and 30 June 2019 218 DEPRECIATION At 1 July 2018 and 30 June 2019 125 NET BOOK VALUE At 30 June 2019 93 At 30 June 2018 93 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.19 30.6.18 £ £ Other debtors 668 8,395 9. MOVEMENT IN FUNDS Net movement At 1.7.18 in funds At 30.6.19 £ £ £ Unrestricted funds General fund 8,568 2,811 11,379 TOTAL FUNDS 8,568 2,811 11,379 Net movement in funds, included in the above are as follows: Incoming Resources Movement in resources expended funds £ £ £ Unrestricted funds General fund 27,202 (24,391) 2,811 TOTAL FUNDS 27,202 (24,391) 2,811 Comparatives for movement in funds Net movement At 1.7.17 in funds At 30.6.18 £ £ £ Unrestricted Funds General fund 8,232 336 8,568 TOTAL FUNDS 8,232 336 8,568 |
7. TANGIBLE FIXED ASSETS Fixtures and fittings £ COST At 1 July 2018 and 30 June 2019 218 DEPRECIATION At 1 July 2018 and 30 June 2019 125 NET BOOK VALUE At 30 June 2019 93 At 30 June 2018 93 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.19 30.6.18 £ £ Other debtors 668 8,395 9. MOVEMENT IN FUNDS Net movement At 1.7.18 in funds At 30.6.19 £ £ £ Unrestricted funds General fund 8,568 2,811 11,379 TOTAL FUNDS 8,568 2,811 11,379 Net movement in funds, included in the above are as follows: Incoming Resources Movement in resources expended funds £ £ £ Unrestricted funds General fund 27,202 (24,391) 2,811 TOTAL FUNDS 27,202 (24,391) 2,811 Comparatives for movement in funds Net movement At 1.7.17 in funds At 30.6.18 £ £ £ Unrestricted Funds General fund 8,232 336 8,568 TOTAL FUNDS 8,232 336 8,568 |
|---|---|---|
| 2,811 | ||
| 30.6.18 £ |
||
| 8,568 | ||
| 8,568 | ||
Page 7
Taekwon-Do (NI) Ltd
Notes to the Financial Statements - continued
for the Year Ended 30 June 2019
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 26,438 | (26,102) | 336 |
| TOTAL FUNDS | 26,438 | (26,102) | 336 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 1.7.17 in funds At £ £ Unrestricted funds General fund 8,232 3,147 TOTAL FUNDS 8,232 3,147 |
30.6.19 £ 11,379 |
|---|---|
| 11,379 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 53,640 | (50,493) | 3,147 |
| TOTAL FUNDS | 53,640 | (50,493) | 3,147 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2019.
Page 8
Taekwon-Do (NI) Ltd
Detailed Statement of Financial Activities
for the Year Ended 30 June 2019
| INCOME AND ENDOWMENTS Donations and legacies Gifts Grants Subscriptions Admissions Other trading activities Fundraising events Sponsorships Investment income Exceptional items Total incoming resources EXPENDITURE Investment management costs Rent collection Charitable activities Insurance Postage and stationery Sundries Competition expenses Support costs Management Impairment losses for tangible fixed assets Finance Bank charges Governance costs Sundries Accountancy and legal fees Total resources expended Net income |
30.6.19 £ 1 1,585 3,110 9,686 14,382 9,350 3,400 12,750 70 27,202 4,338 2,013 205 - 17,342 19,560 - - 13 480 493 24,391 2,811 |
30.6.18 £ 1 1,250 3,971 15,069 |
|---|---|---|
| 20,291 6,147 - |
||
| 6,147 - |
||
| 26,438 3,207 179 - 1,789 20,174 |
||
| 22,142 48 182 - 523 |
||
| 523 | ||
| 26,102 | ||
| 336 |
This page does not form part of the statutory financial statements
Page 9