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
24 October 2024
Dear Ken,
Accounts for Period ended 30/09/2024
Please find attached final accounts for Bangor Ex-Services Club for the period ended 30/09/2024 [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 2024
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 2024.
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 K Hunt
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
D. Powell Trustee 30 September 2024
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 2024.
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 2024
Page 3
Bangor Ex-Services Club Statement of Financial Activities
for the year ended 30 September 2024
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Other 7 Total Expenditure on: Raising funds 8 Charitable activities 9 Other 10 Total Net gains on investments Net income/(expenditure) Transfers between funds Net income/(expenditure) before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2024 | 2024 | 2023 | ||
| £ | £ | £ | ||
| 2,781 | 2,781 | 6,766 | ||
| 19,910 | 19,910 | 24,890 | ||
| 200,557 | 200,557 | 171,118 | ||
| 714 | 714 | 307 | ||
| - | - | 1,500 | ||
| 223,962 | 223,962 | 204,581 | ||
| 89,480 | 89,480 | 81,901 | ||
| 3,426 | 3,426 | 4,104 | ||
| 106,333 | 106,333 | 129,433 | ||
| 199,239 | 199,239 | 215,438 | ||
| - | - | - | ||
| 24,723 | 24,723 | (10,857) | ||
| - | - | - | ||
| 24,723 | 24,723 | (10,857) | ||
| 24,723 | 24,723 | (10,857) | ||
| 293,405 | 293,405 | 304,262 | ||
| 318,128 | 318,128 | 293,405 | ||
Page 4
Bangor Ex-Services Club Balance Sheet at 30 September 2024
| Charity No. 108824 Fixed assets Tangible assets 12 Current assets Stocks 13 Cash at bank and in hand Creditors:Amount falling due within one year 14 Net current assets Total assets less current liabilities Creditors:Amounts falling due after more than one year 15 Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 16 Unrestricted funds 16 General funds Reserves 16 Revaluation reserve Total funds |
2024 £ 268,880 268,880 8,620 60,417 69,037 (18,643) 50,394 319,274 (1,146) 318,128 318,128 161,770 161,770 156,358 156,358 318,128 |
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 |
Approved by the trustees on 30 September 2024
And signed on their behalf by:
D. Powell Trustee 30 September 2024
Page 5
Bangor Ex-Services Club Notes to the Accounts
for the year ended 30 September 2024
- 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 6
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 7
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 8
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 Charitable activities Other Total Net income 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 £ 2,781 2,781 Unrestricted £ 8,964 10,946 19,910 |
Unrestricted funds 2023 £ 6,766 24,890 171,118 307 1,500 204,581 81,901 4,104 129,433 215,438 (10,857) (10,857) (10,857) 304,262 293,405 Total 2024 £ 2,781 2,781 Total 2024 £ 8,964 10,946 19,910 |
Total funds 2023 £ 6,766 24,890 171,118 307 1,500 |
| 204,581 81,901 4,104 129,433 |
|||
| 215,438 | |||
| (10,857) | |||
| (10,857) | |||
| (10,857) 304,262 |
|||
| 293,405 | |||
| Total 2023 £ 6,766 |
|||
| 6,766 | |||
| Total 2023 £ 11,632 13,258 |
|||
| 24,890 |
Page 9
Bangor Ex-Services Club Notes to the Accounts
- 5 Income from other trading activities
| Bar Gaming Machines 6 Income from investments Bank Interest received 7 Other income Grants 8 Expenditure on raising funds Costs of generating voluntary income Donations Fundraising trading costs Bar Gaming Machines 9 Expenditure on charitable activities Expenditure on charitable activities Lotto Fund/ Stock Draw Governance costs |
Unrestricted £ 196,740 3,817 200,557 Unrestricted £ 714 714 Unrestricted £ 1,663 86,156 1,661 89,480 Unrestricted £ 3,426 3,426 |
Total 2024 £ 196,740 3,817 200,557 Total 2024 £ 714 714 Total 2024 £ - - |
Total 2023 £ 168,075 3,043 |
|---|---|---|---|
| 171,118 | |||
| Total 2023 £ 307 |
|||
| 307 | |||
| Total 2023 £ 1,500 |
|||
| 1,500 | |||
| Total 2024 £ 1,663 86,156 1,661 89,480 Total 2024 £ 3,426 3,426 |
Total 2023 £ 6,650 74,378 873 |
||
| 81,901 | |||
| Total 2023 £ 4,104 |
|||
| 4,104 |
Page 10
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 General administrative costs Legal and professional costs 11 Staff costs Salaries and wages Pension costs No employee received emoluments in excess of £60,000. 12 Tangible fixed assets Cost or revaluation At 1 October 2023 Additions At 30 September 2024 Depreciation and impairment At 1 October 2023 At 30 September 2024 Net book values At 30 September 2024 At 30 September 2023 13 Stocks Finished goods Carrying value analysed by activities Bar |
Unrestricted £ 10,373 685 191 59,457 644 25,865 11,034 (1,916) 106,333 2024 58,466 424 58,890 £ 200,000 3,000 203,000 2,250 2,250 200,750 197,750 2024 £ 8,620 8,620 2024 £ 8,620 8,620 |
Total 2024 £ 10,373 685 191 59,457 644 25,865 11,034 (1,916) 106,333 £ 130,015 2,680 132,695 64,565 64,565 68,130 65,450 |
Total 2023 £ 13,682 6,300 (107) 49,002 234 31,278 19,073 9,971 |
|---|---|---|---|
| 129,433 | |||
| 2023 48,212 665 |
|||
| 48,877 | |||
| £ 330,015 5,680 |
|||
| 335,695 | |||
| 66,815 | |||
| 66,815 | |||
| 268,880 | |||
| 263,200 | |||
| 2023 £ 10,086 |
|||
| 10,086 | |||
| 2023 £ 10,086 |
|||
| 10,086 |
Page 11
Bangor Ex-Services Club Notes to the Accounts
14 Creditors:
amounts falling due within one year
| Trade creditors Other taxes and social security Other creditors Accruals 15 Creditors: amounts falling due after more than one year Bank loans and overdrafts Other creditors 16 Movement in funds At 1 October 2023 Restricted funds: Unrestricted funds: General funds 137,047 Revaluation Reserves: Revaluation fund 156,358 Total revaluation reserves 156,358 Total funds 293,405 |
Trade creditors Other taxes and social security Other creditors Accruals 15 Creditors: amounts falling due after more than one year Bank loans and overdrafts Other creditors 16 Movement in funds At 1 October 2023 Restricted funds: Unrestricted funds: General funds 137,047 Revaluation Reserves: Revaluation fund 156,358 Total revaluation reserves 156,358 Total funds 293,405 |
2024 £ 8,151 8,492 2,000 |
2023 £ 10,110 (2,201) 5,000 |
|
|---|---|---|---|---|
| - | 3,235 | |||
| 18,643 2024 £ - 1,146 1,146 Incoming resources (including other gains/losses ) £ 223,962 |
Resources expended £ (199,239) |
16,144 | ||
| 2023 £ 667 9,220 |
||||
| 9,887 | ||||
| At 30 September 2024 £ 161,770 |
||||
| 156,358 156,358 293,405 |
- - 223,962 |
(199,239) | 156,358 | |
| 156,358 | ||||
| 318,128 |
Purposes and restrictions in relation to the funds: Revaluation reserves Represent the amount by which investments exceed their historical cost.
17 Analysis of net assets between funds
| Fixed assets Net current assets Creditors due in more than one year and provisions |
Unrestricted funds £ 268,880 49,744 - 318,624 |
Restricted funds £ - 650 (1,146) (496) |
Total £ 268,880 50,394 (1,146) |
|---|---|---|---|
| 318,128 |
Page 12
Bangor Ex-Services Club Notes to the Accounts
18 Reconciliation of net debt
| 18 Reconciliation of net debt | |||
|---|---|---|---|
| Cash and cash equivalents Bank loans Net debt |
At 1 October 2023 £ |
Cash flows £ |
At 30 September 2024 £ |
| 46,150 | 14,267 | 60,417 | |
| 46,150 (667) |
14,267 | 60,417 - |
|
| 667 | |||
| (667) 45,483 |
667 14,934 |
- | |
| 60,417 | |||
19 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2024 | 2024 | 2023 | 2023 | |
|---|---|---|---|---|
| Land and buildings |
Other | Land and buildings |
Other | |
| £ | £ | £ | £ | |
| Operating leases with expiry date: | ||||
| Pension commitments | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| The pension cost charge to the charity | ||||
| amounted to: | 424 | 665 |
Page 13
Bangor Ex-Services Club Statement of Cash flows for the year ended 30 September 2024
| Cash flows from operating activities Net income/(expenditure) per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Decrease/(Increase) in stocks Decrease in trade and other receivables Decrease in trade and other payables Net cash provided by/(used in) operating activities Cash flows from investing activities Payments for property, plant and equipment Dividends, interest and rents from investments Net cash (used in)/from investing activities Cash flows from financing activities Repayment of borrowings Net cash used in financing activities Net increase/(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 |
2024 £ 24,723 (714) 1,466 - (5,575) 19,900 (5,680) 714 (4,966) (667) (667) 14,267 46,150 60,417 |
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 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 60,417 | 46,150 |
| 60,417 | 46,150 |
Page 14
Bangor Ex-Services Club Detailed Statement of Financial Activities
for the year ended 30 September 2024
| 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 2024 £ 2,781 2,781 8,964 10,946 19,910 196,740 3,817 200,557 714 714 - - 223,962 1,663 1,663 86,156 1,661 87,817 89,480 3,426 3,426 3,426 10,373 685 |
Total funds 2024 £ 2,781 2,781 8,964 10,946 19,910 196,740 3,817 200,557 714 714 - - 223,962 1,663 1,663 86,156 1,661 87,817 89,480 3,426 3,426 3,426 10,373 685 |
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 |
Page 15
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 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 income/(expenditure) Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds |
191 11,249 58,466 424 567 59,457 644 644 8,995 9,570 1,140 5,370 790 25,865 856 2,841 301 2,578 4,382 76 11,034 (1,476) (440) (1,916) 106,333 199,239 - 24,723 24,723 - 24,723 |
191 11,249 58,466 424 567 59,457 644 644 8,995 9,570 1,140 5,370 790 25,865 856 2,841 301 2,578 4,382 76 11,034 (1,476) (440) (1,916) 106,333 199,239 - 24,723 24,723 - 24,723 |
(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) - |
|||
| (10,857) |
Page 16
Bangor Ex-Services Club Detailed Statement of Financial Activities
| Reconciliation of funds: Total funds brought forward Total funds carried forward |
293,405 318,128 |
293,405 318,128 |
304,262 |
|---|---|---|---|
| 293,405 |
Page 17