Sports Academy George Trust Registration Number 106867 (Northern Ireland) Charity number: 106867 Unaudited Annual Financial Statements for the year ended 31 December 2023
Sports Academy George Trust (Registration Number 106867) Annual Financial Statements for the year ended 31 December 2023 Contents Page Charity Infomiation Independent Examiner's Report Statement of Financial Activities Balance Sheet Statement of Changes in Equity Statement of Cash Flows Notes to the Annual Finanaal Statements 8-11
Sports Academy George Trust (Registration Number 106867) Annual Financial Statements for the year ended 31 December 2023 Charity Infomiation Country of Incorporation and Domicile Northern Ireland Registration Number 106867 Registration Date 18 December 2017 Nature of Business and Principal Activities The charity enables the advanment of education and amateur sports in developing countries. Trustees Stephen David Mckenzie Rachel Laura Craig Trevor Scott Adam Miller Craig Jordan Gamble Gareth Bronte Ruth M¢2fee Caroline Struwig Registered Office 46 Carricknaveagh Road Lisbum BT27 Bankers Danske Bank
Independent examine$ report to the charity trustees of Sports Academy George Trust. I report on the accounts of Sports Academy George Trust for the year ended 31 December 2023, which are set out on pages 5 to 11. Respective responslbllltles ol charity trustees and examiner As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act {Northern Ireland) 2008. It is my responsibility to: 1. Examine the accounts under section 65 of the Charities Acl 2. Follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act 3. Stste whether particular matters have come to ry attentlon. Ba81s of Independent examlnerfs rnport I have examined your 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 sectlon 65(9)(b) of the Charities ACL My 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 Ite or disclosures in the accounts, and seeking explanations from you as charity trustees conmIng any suth matters. My role is to stste whether any material matters have corne to my attention giving rr cause to believe- 1. That accounting records were not kept in accordance with section 63 of the Charities Act 2. That the accounts do not accwd with those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examlner's statement I have completed my examination and have no concems in respect of the matters {1) to (4) listed above and. in connection with following the Directions of the Charity Commission for Northem Ireland, I have found no matters that require drawing to your attention. Slgned: . LLkkn eKii Name: Kelly Gillespie FCA Relevant professional qualification or body: Chartered Accountants Ireland Address: 39 Church Stree( Ballynahinch, Co Down. N Ireland, BT24 8AF Date: 7-IslLS
Sports Academy George Trust (Registration Number 106867) Annual Financial Statements for the year ended 31 December 2023 Statement of Financial Activities Unrestricted Funds 2023 2022 Total Funds 2023 2022 Figures in £ Note Income and endowments from: Donats'ons and legacies Charitable activities Other income Total income and endowments 228 087 23 774 48 436 300 297 162 (5 23 757 228 087 23 774 48 436 300 297 162 065 23 757 185 822 185 822 Expenditure on: Charitable activities NC 10 kilometre run fundraising expenses George Royal Academy donations Total expenditure on charitable activities (9 570) (160 060) (169 630) (7211) {133 805) (141016) (9 570) (160 060) (169 630) (72111 (133 8051 (141016) Other expenses (73 409) (56 082) (73 409) (56 0821 Total expenditure (243 039) (197 098) (243 039) (197 098) Net income l (expenditure) 57 258 (11276) 57 258 (11276) Net movement in funds 57 258 (11276) 57 258 (11276)
Sports Academy George Trust (Registration Number 106867) Annual Financial Statements for the year ended 31 December 2023 Balance Sheet Unrestricted Funds 2023 2022 Total Funds 2023 2022 Figures in £ Notes Current assets Cash at bank and in hand Net current assets 64 276 64 276 7018 7018 64 276 64 276 7018 7018 Total assets less current liabilities 64 276 7018 64 276 7018 Net assets 64 276 7018 64 276 7018 Capital and reserves Endowment funds Unrestricted income funds Shareholders, funds 64 276 64 276 7018 7018 64 276 64 276 7018 7018 For the year ended 31 December 2023. the charity was entiued to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The member has not required the company to obtain an audit of its accounts for Ihe year ended 31 December 2023 in accordance with section 476 of the Charities Act {Northem Ireland), 2008. The trustees acknowledge their responsibilrties for ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Charities Act (Northem Ireland), 2008 and the Companies Act 2006, the Memorandum and Artides of Association and; The trustees acknowledge their responsibilities forpreparing annual financial statements which give a true and fair view of the stale of affairs of the charity as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Charities Act (Northem Ireland). 2008 relating to financial statements. so far as applicable to the charity. The annual financial statements were approved and authorised for issue by the Board of Trustees on 23 April 2025. Signed on behalf of the Board of Trustees Trevor Scott Chairnian 23 April 2025 The notes on pages 8 to 11 form part of these accounts. Charity registration number. 106867
Sports Academy George Trust (Registration Number 106867) Annual Financial Statements for the year ended 31 December 2023 Statement of Changes in Equity Unrestricted fund Figures in £ Total Balance at 1 January 2022 18294 18 294 Changes in equity DefiGit for the year Total comprehensive income Balance at 31 December 2022 (11276) (11 276) 7018 {112761 {112761 7018 Balance at 01 January 2023 7018 7018 Changes in equity Surplus for the year Total comprehensive income Balance at 31 December 2023 57 258 57 258 64 276 57 258 57 258 64 276
Sports Academy George Trust (Registration Number 106867> Annual Financial Statements for the year ended 31 Dember 2023 Statement of Cash Flows Figures in £ 2023 2022 Cash flows (used in) I from operations Net cash flows from l (used in) operations 57 258 (11276) Cash flows from financing activities Changes in capital Cash flows from financing activities 18 294 18 294 Net increase in cash and cash equivalents Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year 57 258 7018 64 276 7018 7018 Cash and cash equivalents consists of: Cash at bank and on hand 64 276 7018
Sports Academy George Trust (Registration Number 106867) Annual Financial Statements for the year ended 31 December 2023 Notes to the Annual Financial Statements Figures in £ 2023 2022 1. Summary of significant accounting policies 1.1 General infomiation and basis of preparation Sports Academy George Trust is a charity in(rpOrated in the Northem Ireland. The address of the registered office and registration number is given in the company infomiation on page 2 of these annual financial statements. The charity enables the advanment of education and amateur sports in developirKJ countn'es. These annual financial statements have been prepared in accordance with Acunting and Reporting by Charities.. Statement of Recommended Practs'ce applicable to charities preparing their accounts in accordan with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 1021, the Charities Ad (Northern Ireland}, 2008 and the the Companies Act 2006. the Memorandum and Articles of Associatson. The annual financial statements are prepared in steding (£) which is the functional currency of the charity and rounded lo Ihe nearest £. The significant accounting policies applied in the preparation of these annual financial statements are set out below. These policies have been consistenuy applied to all years presented unless othetwise stated. The company adopted FRS 102 in the current year and an explanation of how transition to FRS 102 has affected the reported financial position and performance is given in note 5. 1.2 Cash at bank and in hand The notes to the accounts must explain how the charity has defined any short-term, highly liquid investments included as cash at bank and in hand. 1.3 Financial instruments Related party transactions Related party transactions of a similar nature are aggregated unless, in the opinion of the directors. separate disclosure is necessary to understand the effect of the transactions on the financial statements. Ultimate controlling party In the opinion of the directors, Sports Academy George Twst does not have a single ultimate controlling paty. 1.4 Taxation The charity is exempt from corporation tax on its charttable activities.
Sports Academy George Trust (Registration Number 106867) Annual Financial Statements for the year ended 31 December 2023 Notes to the Annual Financial Statements Figures in £ 2023 2022 Summory of significant accounting policies tontinued... 1.5 Turnover and other income Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognits'on of turnover are as follows: Fund accounting Unrestricted funds can be used in accordan with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particJJlar restricted purposes within the objectives of the chartty. Restrictions arise when specified by the donor or when funds are raised for a particular restricted purpose. Interest receivable Interest income is recognised using the effective interest method is recognised as the charity's right to receive payment is established. Donations received All income is recognised once the charity has entrtlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations are recognised when the Trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perfomiance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met. or the fulfilmenl of those conditions is wholly within the control of the charity and it is probable that those conditions will be ftjlfilled in the reporting period. Legacy gifts are recognised on a case by case basis following the granting of probate when the administratorlexecutor for the estate has communicated in writing the amount for distribution after taking into consideration of any liabilities and settlement date and. if there are any conditions attached to the legacy, these are either within the control of the charity or have been met_ In the event that the gift is in the fomi of an asset other than cash or a financial asset traded on a recognised stock exchange. reccMJnits'on is subject to the value of the gift being reliably measurable with a degree of sufficient accuracy and the tide to the asset having been transferred to the charity. 2. Income and endowments The analysis of income and endowments by activity is as follows: Donab'ons and legacies Charitable acliwties Other income Total income and endowments 228 087 23 774 48 436 300 297 162 065 23 757 185 822
Sports Academy George Trust (Registration Number 106867) Annual Financial Statements for the year ended 31 December 2023 Notes to the Annual Financial Statements Figures in £ 2023 2022 3. Analysis of charitable funds Unrestricted fund Total Balance at 1 January 2022 18 294 18 294 Income and endowments Expenses Balance at 31 December 2022 185822 (197 098) 7018 185 822 (197 098) 7018 Balance at 01 January 2023 7018 7018 Income and endowments Expenses Balance at 31 December 2023 300 297 (243 039) 64 276 300 297 (243 039) 64 276 3.2 Fund reconciliations Unrestricted funds Balance at 31 December 2022 7018 Balance at 01 Income and January 2022 endowments 18294 185 822 Expenses (197 098) Unrestricted Balance at 31 December 2023 64 276 Balance al 01 Income and January 2023 endowments 7018 300 297 Expenses (243 039) Unrestricted 4. Related party transactions 4.1 Other related parties Entity name SD Mckenzie RL Craig T Scott AM Craig J Gamble G Bronte R Mcafee C Stuwig A Scott Nature of relationship Trustee Trustee Trustee Trustee Trustee Trustee Trustee Trustee Family member of trustee io
Sports Academy George Trust (Registration Number 106867) Annual Financial Statements for the year ended 31 December 2023 Notes to the Annual Financial Statements Figures in £ 2023 2022 Relotedparty transortions continued... 4.2 Information about related party transactions and outstanding balances is outlined below: Donations made Other related parties At 31 December 2022 At 31 December 2023 18 086 20 725 5. First-time adoption of FRS 102 The company has adopted FRS 102 for the first time in the year ended 31 December 2023. 6. Approval of Annual Financial Slatements The trustees approved these financial statements for issue on 23 April 2025. li