2023-09-30-accounts - Bangor Ex-Services Club

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

O'Boyle Accounting & Tax Ltd

BUSINESS ADVISORS • CHARTERED ACCOUNTANT • TAX CONSULTANTS

Mr Ken Rimmer 47-51 High Street Bangor BT20 5BE Bangor Ex-Services Club

23 October 2023

Dear Ken,

Accounts for Period ended 30/09/2023

Please find attached final accounts for Bangor Ex-Services Club for the period ended 30/09/2023 [including abbreviated accounts if appropriate].

Thank you for reviewing the attached carefully and for giving your approval to O'Boyle Accounting & Taxation Ltd to file these Accounts on-line with Companies House and with HMRC.

Please do not hesitate to contact us if you have any queries.

Yours sincerely,

Gerry O'Boyle and Laurence Wright O'Boyle Accounting & Tax Ltd Chartered Management Accountants

O'Boyle Accounting & Taxation Ltd 4 Bingham Street, Bangor, BT20 5DW www.oboyleaccounting.com - Email: info@oboyleaccounting.com Tel: 02891453212

Bangor Ex-Services Club

Charity No. 108824

Trustees' Report and Unaudited Accounts

30 September 2023

Bangor Ex-Services Club Contents

	Pages
Trustees' Annual Report	2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Statement of Cash flows	6
Notes to the Accounts	7 to 15
Detailed Statement of Financial Activities	16 to 18

Page 1

Bangor Ex-Services Club Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 30 September 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 108824

Trustees

The following trustees served during the year:

M. Atkin

A. Campbell

D. Nash

D. Powell

M. Stewart

Key Management Personnel

Chair K Rimmer Secretary W D Maginnes Treasurer W J McCormick

Accountants

OBoyle Accounting & Tax Ltd 4 Bingham Street Bangor BT20 5DW

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

M. Atkin Chairperson 30 September 2023

Page 2

Bangor Ex-Services Club Independent Examiners Report

Independent Examiner's Report to the trustees of Bangor Ex-Services Club

I report to the trustees on my examination of the financial statements of Bangor Ex-Services Club for the year ended 30 September 2023.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.

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 financial statements to be reached.

Gerry O'Boyle CIMA OBoyle Accounting & Tax Ltd 4 Bingham Street Bangor

BT20 5DW 30 September 2023

Page 3

Bangor Ex-Services Club Statement of Financial Activities for the year ended 30 September 2023

Unrestricted funds	Total funds	Total funds
2023	2023	2022
£	£	£

6,766	6,766	998
24,890	24,890	23,152
171,118	171,118	160,100
307	307	192
1,500	1,500	11,864
204,581	204,581	196,306

81,901	81,901	1,800
4,104	4,104	-
129,433	129,433	174,860
215,438	215,438	176,660
-	-	-
(10,857)	(10,857)	19,646
-	-	-
(10,857)	(10,857)	19,646

(10,857)	(10,857)	19,646

304,262	304,262	156,358
293,405	293,405	176,004

Page 4

Bangor Ex-Services Club Balance Sheet

at 30 September 2023

Charity No. 108824 Fixed assets Tangible assets 13 Current assets Stocks 14 Debtors 15 Cash at bank and in hand Creditors:Amount falling due within one year 16 Net current assets Total assets less current liabilities Creditors:Amounts falling due after more than one year 17 Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 18 Unrestricted funds 18 General funds Reserves 18 Revaluation reserve Total funds	2023 £ 263,200 263,200 10,086 - 46,150 56,236 (16,144) 40,092 303,292 (9,887) 293,405 293,405 137,047 137,047 156,358 156,358 293,405	2022 £ 262,385
		262,385 8,262 1,305 66,347
		75,914 (14,322)
		61,592 323,977 (19,715)
		304,262
		304,262
		147,904
		147,904 156,358
		156,358
		304,262

Approved by the trustees on 30 September 2023

And signed on their behalf by:

M. Atkin Trustee 30 September 2023

Page 5

Bangor Ex-Services Club Statement of Cash flows for the year ended 30 September 2023

Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Increase in stocks Decrease/(Increase) in trade and other receivables (Decrease)/Increase in trade and other payables Net cash (used in)/provided by operating activities Cash flows from investing activities Payments for property, plant and equipment Dividends, interest and rents from investments Net cash from/(used in) investing activities Cash flows from financing activities Repayment of borrowings Net cash (used in)/from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2023 £ (10,857) (1,807) (1,824) 1,305 (1,954) (15,137) (815) 1,807 992 (1,981) (1,981) (16,126) 64,882 48,756	2022 £ 147,904 (12,056) (8,262) (1,305) 27,318
		220,414 (329,200) 12,056
		(317,144)
		2,648
		2,648

		(94,082)
		-
		(94,082)

Components of cash and cash equivalents
Cash and bank balances	46,150	66,347
Bank overdrafts	-	(1,465)

	46,150	64,882

Page 6

Bangor Ex-Services Club Notes to the Accounts

for the year ended 30 September 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Bangor Ex-Services Club Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 8

Bangor Ex-Services Club Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

Bangor Ex-Services Club Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other Total Expenditure on: Raising funds Other Total Net income Transfers between funds Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations 4 Income from charitable activities Lotto Fund/ Stock Draw Membership	Unrestricted £ 6,766 6,766 Unrestricted £ 11,632 13,258 24,890	Unrestricted funds 2022 £ 998 23,152 160,100 192 11,864 196,306 2,052 174,608 176,660 19,646 128,258 147,904 147,904 156,358 304,262 Total 2023 £ 6,766 6,766 Total 2023 £ 11,632 13,258 24,890	Total funds 2022 £ 998 23,152 160,100 192 11,864
			196,306 2,052 174,608
			176,660
			19,646 128,258
			147,904
			147,904 156,358
			304,262
			Total 2022 £ 998
			998
			Total 2022 £ 15,321 7,831
			23,152

Page 10

Bangor Ex-Services Club Notes to the Accounts

5 Income from other trading activities

Unrestricted £ 168,075 3,043 171,118 Unrestricted £ 307 307 Unrestricted £ 1,500 1,500	Total 2023 £ 168,075 3,043 171,118 Total 2023 £ 307 307 Total 2023 £ 1,500 1,500	Total 2022 £ 154,286 5,814
		160,100
		Total 2022 £ 192
		192
		Total 2022 £ 11,864
		11,864

Unrestricted £ 6,650 74,378 873 81,901 Unrestricted £ 4,104 4,104	Total 2023 £ 6,650 74,378 873 81,901 Total 2023 £ 4,104 4,104	Total 2022 £ 1,800 - -
		1,800
		Total 2022 £ -
		-

Page 11

Bangor Ex-Services Club Notes to the Accounts

10 Other expenditure

Entertainment Lotto Prize Bank loan and overdraft interest payable Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 11 Net (expenditure)/income before transfers This is stated after charging: Depreciation of owned fixed assets 12 Staff costs Salaries and wages Pension costs No employee received emoluments in excess of £60,000. 13 Tangible fixed assets Cost or revaluation At 1 October 2022 Additions At 30 September 2023 Depreciation and impairment At 1 October 2022 At 30 September 2023 Net book values At 30 September 2023 At 30 September 2022	Unrestricted £ 13,682 6,300 - (107) 49,002 234 31,278 - 19,073 9,971 129,433 2023 £ - 2023 48,212 665 48,877 £ 200,000 - 200,000 2,250 2,250 197,750 197,750	Total 2023 £ 13,682 6,300 - (107) 49,002 234 31,278 - 19,073 9,971 129,433 £ 129,200 815 130,015 64,565 64,565 65,450 64,635	Total 2022 £ 69,409 13,577 698 97 38,427 - 11,368 15,436 19,043 6,805
			174,860
			2022 £ 15,436 2022 38,081 346
			38,427
			£ 329,200 815
			330,015
			66,815
			66,815
			263,200
			262,385

Page 12

Bangor Ex-Services Club Notes to the Accounts

14 Stocks

Finished goods 15 Debtors Prepayments and accrued income 16 Creditors: amounts falling due within one year Bank loans and overdrafts Trade creditors Other taxes and social security Other creditors Accruals Deferred income 17 Creditors: amounts falling due after more than one year Bank loans and overdrafts Club Improvement Fund	2023 £ 10,086 10,086 2023 £ - - 2023 £ - 10,110 (2,201) 5,000	2022 £ 8,262
		8,262
		2022 £ 1,305
		1,305
		2022 £ 1,465 3,359 2,168 461
	3,235	4,263
	-	2,606
	16,144 2023 £ 667 9,220 9,887	14,322
		2022 £ 2,648 17,067
		19,715

Page 13

Bangor Ex-Services Club Notes to the Accounts

18 Movement in funds

18 Movement in funds
At 1 October 2022 Incoming resources (including other gains/losses ) Resources expended At 30 September 2023 £ £ £ Restricted funds: Unrestricted funds: General funds 147,904 204,581 (215,438) 137,047 Revaluation Reserves: Revaluation fund 156,358 - 156,358 Total revaluation reserves 156,358 - 156,358 Total funds 304,262 204,581 (215,438) 293,405 Purposes and restrictions in relation to the funds: Revaluation reserves Represent the amount by which investments exceed their historical cost. 19 Analysis of net assets between funds Unrestricted funds Restricted funds Total £ £ £ Fixed assets 263,200 - 263,200 Net current assets 45,092 (5,000) 40,092 Creditors due in more than one year and provisions (667) (9,220) (9,887) 307,625 (14,220) 293,405 20 Reconciliation of net debt At 1 October 2022 Cash flows At 30 September 2023 £ £ £ Cash and cash equivalents 66,347 (20,197) 46,150 66,347 (20,197) 46,150 Bank loans (2,648) 1,981 (667) (2,648) 1,981 (667) Net debt 63,699 (18,216) 45,483	At 1 October 2022 147,904	Incoming resources (including other gains/losses ) £ 204,581	Resources expended £ (215,438)	At 30 September 2023 £ 137,047

				156,358
				156,358

				293,405
				293,405
				At 30 September 2023 £
		66,347	(20,197)	46,150
		66,347 (2,648)	(20,197)	46,150 (667)
			1,981
		(2,648) 63,699	1,981 (18,216)	(667)
				45,483

Page 14

Bangor Ex-Services Club Notes to the Accounts

21 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

	2023	2023	2022	2022
	Land and buildings	Other	Land and buildings	Other
	£	£	£	£
Operating leases with expiry date:
*Pension commitments*
		2023		2022
		£		£
The pension cost charge to the charity
amounted to:		665		346

Page 15

Bangor Ex-Services Club Detailed Statement of Financial Activities

for the year ended 30 September 2023

Income and endowments from: Donations and legacies Donations Charitable activities Lotto Fund/ Stock Draw Membership Other trading activities Bar Gaming Machines Investments Bank Interest received Other Grants Total income and endowments Expenditure on: Costs of generating donations and legacies Donations Costs of other trading activities Bar Gaming Machines Total of expenditure on raising funds Charitable activities Lotto Fund/ Stock Draw Total of expenditure on charitable activities Other expenditure Entertainment Lotto Prize	Unrestricted funds 2023 £ 6,766 6,766 11,632 13,258 24,890 168,075 3,043 171,118 307 307 1,500 1,500 204,581 6,650 6,650 74,378 873 75,251 81,901 4,104 4,104 4,104 13,682 6,300	Total funds 2023 £ 6,766 6,766 11,632 13,258 24,890 168,075 3,043 171,118 307 307 1,500 1,500 204,581 6,650 6,650 74,378 873 75,251 81,901 4,104 4,104 4,104 13,682 6,300	Total funds 2022 £ 998
			998
			15,321 7,831
			23,152
			154,286 5,814
			160,100
			192
			192
			11,864
			11,864
			196,306 1,800
			1,800
			- -
			-
			1,800 -
			-
			- 69,409 13,577

Page 16

Bangor Ex-Services Club Detailed Statement of Financial Activities

Bank loan and overdraft interest payable Employee costs Salaries/wages Pension costs Staff training Motor and travel costs Travel and subsistence Premises costs Rates Light, heat and power Premises cleaning Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Depreciation of Bank charges General insurances Software, IT support and related costs Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Transfers between funds Net (expenditure)/income before other gains/(losses)	- (107) 19,875 48,212 665 125 49,002 234 234 10,799 11,931 700 7,079 769 31,278 - 1,790 3,636 661 4,539 6,961 1,486 19,073 2,240 7,731 9,971 129,433 215,438 - (10,857) - (10,857)	- (107) 19,875 48,212 665 125 49,002 234 234 10,799 11,931 700 7,079 769 31,278 - 1,790 3,636 661 4,539 6,961 1,486 19,073 2,240 7,731 9,971 129,433 215,438 - (10,857) - (10,857)	698 97
			83,781
			38,081 346 -
			38,427
			-
			-
			1,493 819 - 9,056 -
			11,368
			15,436 2,134 1,949 3,180 728 10,542 510
			34,479
			- 6,805
			6,805

			174,860
			176,660 -
			19,646 128,258
			147,904

Page 17

Bangor Ex-Services Club Detailed Statement of Financial Activities

Bangor Ex-Services Club Detailed Statement of Financial Activities
Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	- (10,857) 304,262 293,405	- (10,857) 304,262 293,405	-
			147,904
			156,358
			304,262

Page 18