## **Forthill Community Sports Club**
## **REPORT AND FINANCIAL STATEMENTS**
**for the year ended**
**31 March 2023**
**Scottish Charity Number SC046119**
**FORTHILL COMMUNITY SPORTS CLUB**
## **Index to the Financial Statements for the year ended 31 March 2023**
||**Page**|
|---|---|
|Report of the Trustees|2 – 6|
|Auditor’s Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Notes to the Accounts|10 - 18|
1
## **FORTHILL COMMUNITY SPORTS CLUB**
## **Report of the Trustees for the year ended 31 March 2023**
The Trustees presents its report together with the charity’s financial statements for the year ended 31 March 2023.
## **OBJECTIVES AND ACTIVITIES**
The charity's objectives are as follows: - to advance and promote public participation in sport, the provision of recreational facilities, and the organisation of recreational activities, with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended
## **Activities Undertaken in Year**
## **ACHIEVEMENTS & PERFORMANCE**
Forthill Community Sports Club has continued to work against and in line with the action plan devised in year end March 2018 with continued support from our Hub Officer. The plan as mentioned in previous years’ reports continues to align itself to the Sport Scotland Community Sport Hub and is bound by FCSC's main aims and objectives and the 5 guiding principles of being a community Hub - Participation Growth, Understanding Community Need, Supporting Community Leadership, Offering a range of sports and ensuring all the right people are working together.
Fortunately, as the world has come out of lock down and Covid 19 protocols we have been able as a community sports hub to get back to doing what we do best. Engaging with our members and the local community and hosting sports camps, playing sports and socialising with friends and family. We continue to work at making Forthill the premier sporting venue in the City. The addition of 4 Hybrid Cricket wickets, all weather floodlit tennis courts, an upgraded Indoor sports centre and a general overhaul of the main clubhouse building including a new roof, heating, disabled lift and the current plans of installation of disabled toilets and an increase in Ladies WC’s all help to add benefit to our club.
## **FINANCIAL REVIEW**
The results for the year are set out in the Statement of Financial Activities. The Statement of Financial Activities shows net outgoing resources for the year of £169,412 (2022 - £991,062 net incoming resources). At the year end total reserves standing at £1,587,981 (2022 - £1,757 393) of which £202,529 is general reserves (2022 - £203,482), £568,773 is designated (2022 - £568,773) and £816,679 is restricted (2022 - £985,138).
## **Risk Management**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Reserves Policy**
Reserves are required to be held by the charity to cover any gap between spending and receiving income and to cover emergency repairs and other expenditure. The Trustees consider that the ideal level of reserves as at 31 March 2023 should be around £25,000.
The free reserves currently held excluding fixed assets not readily available to be spent at the year end were £(80,416) therefore not does not meet our policy but we are actively addressing this shortfall.
While the Trustees acknowledge their responsibility for maintaining a level of reserves adequate for the continued operation of the charity, they see the main priority is to use all available funds for the improvement of the current facilities to ensure the continued use by the community.
Once the planned expenditure has been completed, the Trustees will ensure that the charity is committed to reducing borrowings and to grow the reserves to the level that they believe is appropriate for the charity to retain.
2
## **FORTHILL COMMUNITY SPORTS CLUB**
## **Report of the Trustees (cont) for the year ended 31 March 2023**
The Trustees are aware that the lack of free reserves, together with the planned capital expenditure will provide a challenging environment in the years to come. The Trustees are committed to reversing this situation and acknowledge that the support of the charity's bank and constituent clubs will be important in the coming years.
## **Plans for Future Periods**
Forthill Community Sports Club has developed an action plan which sets out the following missions:
1) To improve facilities and make them fit for purpose to enable the Hub to grow participation. 2) Create a sustainable structure to meet the needs of the community for the long term. 3) Bring all clubs together through a working action plan.
Events: We will operate an event strategy to raise the profile of sport and utilise our resources.
- 1) Hold a Hub open evening
- 2) Run Easter and Summer holiday camp
- 3) Publish a calendar with all club and hub events
Communications: To raise awareness of the benefits, opportunities and success of sport at Forthill
- 1) Organising regular meetings with clubs and key contacts
- 2) Collate community feedback on any plans or events
- 3) Develop social media feeds
- 4) Create promotional feed
Education: Physical Education, Physical Activity and Sport are embedded in all education establishments across Dundee promoting pathways to participate, volunteer and officiate in sport.
- 1) Improve links between the hub and active schools
- 2) Improve links with Dundee and Angus college
- 3) Identify and recruit Junior Decision Makers
Community Sport: Forthill will maximise the provision of accessible sport in our communities that enables increased participation and progression.
- 1) Grow the hub through new club involvement
- 2) Ensure Constituent Clubs keep an updated record of coaches and volunteers PVG's, Child protection and First Aid
- 3) Support clubs in accreditation to National Governing bodies etc
Facilities: Forthill will provide, maintain and develop more accessible and better quality facilities for all levels of sport.
- 1) Look at and improve the current decoration and floor coverings throughout the clubhouse.
- 2) Review opening times
- 3) Development of overall hub facility and investigate new facilities such as paddle tennis courts and 4G multi sport playing surfaces.
People: Develop and invest in a strong network of people to deliver sport at all levels in the city.
- 1) Increase amount of volunteers
- 2) Look at volunteer upskilling
- 3) Arrange child protection course
- 4) Arrange first aid course.
3
## **FORTHILL COMMUNITY SPORTS CLUB**
**Report of the Trustees (cont) for the year ended 31 March 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing Document**
Forthill Community Sports Club was established as a Scottish Charitable Incorporated Organisation (SCIO) on 9 November 2015 and is registered with The Office of the Scottish Charity Regulator (OSCR). The charity had previously operated as an unincorporated association and is governed by its Articles of Association.
FCSC is a membership organisation with two categories of membership:
The Members - who have the right to attend members' meetings (including any annual general meeting) and have important powers under the constitution; in particular, the members appoint people to serve on the board and take decisions on changes to the constitution itself;
The Board - who hold regular meetings, and generally control the activities of the organisation; for example, the board is responsible for monitoring and controlling the financial position of the organisation.
Membership is open to any individual aged 16 or over who is a member of Forfarshire Cricket Club, Forthill Community Tennis Club, Plebeians Table Tennis Club, Panmure Rugby Club, Forthill Squash Club, Grove Menzieshill Hockey Club and such other sports clubs or organisations as may, at the decision of the board, be affiliated to the organisation.
Employees of the organisation are not eligible for membership.
## **Recruitment and Appointment of Trustees**
The Trustees have developed an information pack for potential Trustees which includes OSCR guidance for Trustees, and which details the responsibilities and commitment required of the Trustees.
The Trustees do not receive any remuneration however certain Trustees are reimbursed for expenses incurred by them personally in relation to the running of the charity.
## **Trustees Induction and Training**
New trustees are briefed on the objectives of the charity and are provided with a copy of OSCR publication – Guidance for Charity Trustees ‘acting with care and diligence’.
## **Organisational Structure**
The charity has a board of trustees who meet regularly and are responsible for the strategic direction and policy of the charity.
Day to day administration is carried out by
.
4
FORTHILL c0KMLT[y SPORTS CLLTB
Report of ¢bf Trn5tffS (roul)
ror the )'ear ended 31 March 2023
REFERELNCE AJJ l) IlDMI)ISTRATIVE ThTOILMATIO
REGISTERED CHARrtY NLME: Fonhill Con)muniry Club
SC 046119
PRINCIPAL OFFICE:
Finty Place
Brougbty Fe
DDS 3BL
TRUSTEES:
AUDITOR:
ChapelsIde House
78 - 84 Bell Street
DDI IRQ
BLYKERS:
The Royal Bank of ScotlaJMI
288 Brook Stsrd
Broughty Fary
DDS 2AP
FORTHILL CO}LMLTry SPORTS CLI
## **Report of the Trustees (cont) for the year ended 31 March 2023**
## **Trustees responsibilities for the preparation of accounts**
The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (UK GAAP).
Law applicable to charities in Scotland requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that year.
In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' annual report was approved on 28 February 2024 and signed on behalf of the board of trustees by:
Trustee
**FORTHILL COMMUNITY SPORTS CLUB**
6
## **Independent Auditor’s Report to the Trustees of Forthill Community Sports Club**
Audit report to be added
**FORTHILL COMMUNITY SPORTS CLUB**
7
## **Statement of Financial Activities for the year ended 31 March 2023**
|**2023**
**Unrestricted**
**Funds**
**£**
**Income and endowments from:**
Donations and legacies
1
1,200
Charitable activities
2
80,878
Investment income
599
Other income –_insurance claim_
21,866
**Total income**
**104,543**
**Expenditure on:**
Fundraising costs
989
Charitable activities
3
104,507
**Total expenditure**
**105,496**
**Net income / (expenditure)**
(953)
Transfer between funds
-
**Net movement in funds**
**(953)**
**Reconciliation of funds:**
Total funds brought forward
11
772,255
**Total funds carried forward**
11
**771,302**|**2023**
**Restricted**
**Funds**
**£**
10,732
-
-
-
**10,732**
-
179,191
**179,191**
(168,459)
-
**(168,459)**
985,138
**816,679**|**2023**
**Total**
**Funds**
**£**
11,932
80,878
599
21,866
**115,275**
989
283,698
**284,687**
(169,412)
-
**(169,412)**
1,757,393
**1,587,981**
|**2022**
**Total**
**Funds**
**As restated**
**£**
1,027,581
53,617
4
-
**1,081,202**
2,000
88,140
**90,140**
991,062
-
**991,062**
766,331
**1,757,373**|
|---|---|---|---|
## **CONTINUING OPERATIONS**
None of the charity’s activities were acquired or discontinued during the current and previous years.
## **TOTAL RECOGNISED GAINS AND LOSSES**
The charity has no recognised gains or losses other than the deficit for the current year and surplus for the previous year.
The notes on pages 10 to 18 form part of these accounts
8
## **FORTHILL COMMUNITY SPORTS CLUB**
## **Balance Sheet as at 31 March 2023**
|**Unrestricted**
**Funds**
**2023**
**Note**
**£**
**Fixed Assets:**
Tangible fixed assets
6
852,017
Investments
7
1
852,018
**Current Assets:**
8
Debtors
102,557
Cash at bank and in hand
10,837
**Total current assets**
113,394
**Current Liabilities:**
Falling due within one year
9
(31,621)
Net Current Assets
81,773
Creditors due in more than one year
10
(162,489)
**Net Assets**
**771,302**
**Funds of the charity:**
Unrestricted Funds:
General Funds
11
Designated Funds
11
Restricted Funds
11
**Total Charity Funds**|**Restricted**
**Funds**
**2023**
**£**
105,851
-
105,851
500,000
210,828
710,828
-
710,828
-
**816,679**|**Total**
**Funds**
**2023**
**£**
957,868
1
957,869
602,557
221,665
824,222
(31,621)
792,601
(162,489)
**1,587,981**
202,529
568,773
771,302
816,679
**1,587,981**|**Prior**
**Year**
**2022**
**As restated**
**£**
877,540
1
877,541
1,004,690
58,181
1,062,871
(28,956)
1,033,915
(154,063)
**1,757,393**
203,482
568,773
772,255
985,138
**1,757,393**|
|---|---|---|---|
These financial statements were approved by the board of trustees and authorised for issue on 28 February 2024, and are signed on behalf of the board by:
## Trustee
The notes on pages 10 to 18 form part of these account
9
## **FORTHILL COMMUNITY SPORTS CLUB**
**Notes to the Accounts for the year ended 31 March 2023**
## **Accounting policies**
The following accounting policies have been applied consistently in the current and preceding year in dealing with items which are considered material in relation to the charity’s accounts.
## **Basis of preparation**
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended).
## **Going concern**
The Trustees acknowledge that the continuation of the charity is dependent on the support of the charity's bankers and on the continued use of the facilities by the associated clubs.
The Trustees are committed to the development of the charity and expect that the other net liabilities position will improve to allow the free reserves to stand at an acceptable level.
## **Fund accounting**
Funds are classified as either restricted, endowment or unrestricted funds, defined as follows:
_Restricted funds_ are funds subject to specific requirements as to their use, which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity.
_Endowment funds_ are funds given on the condition that the original capital sum is not reduced, but that the income therefrom is used for the purpose defined in accordance with the objects of the charity.
_Unrestricted funds_ are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees’ discretion to apply the fund.
## **Income**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
- Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
10
## **FORTHILL COMMUNITY SPORTS CLUB**
**Notes to the Accounts for the year ended 31 March 2023**
## **Accounting policies (cont)**
## **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 settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
Support costs have not been separately identified as the Trustees consider there is only one charitable activity. Therefore support costs relate wholly to that activity and have not been separately identified.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment
- 15% reducing balance
## **Investments**
Unlisted equity investments are initially recorded at cost, and subsequently measured at market value. If market value cannot be reliably measured, assets are measured at cost less impairment.
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Subsequently, investment property is shown at its open market value (fair value), with changes in fair value recognised in profit or loss.
## **Pensions**
The company makes contributions into personal pension plans for employees. The contributions are charged to the income and expenditure account in the period in which they are made.
## **Taxation**
Forthill Community Sports CLub is recognised as a charity for the purposes of applicable taxation legislation and is not, therefore, subject to taxation on its charitable activities. The charity is not registered for VAT and resources expended therefore include irrecoverable input VAT.
## **Debtors**
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and cash held in a deposit or similar account.
## **Creditors and provisions**
Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and 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 discount.
## **Financial Instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transactions value and subsequently measured at their settlement value.
11
## **FORTHILL COMMUNITY SPORTS CLUB**
## **Notes to the Accounts for the year ended 31 March 2023**
## **Accounting policies (cont)**
## **Critical account estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are revised on an ongoing basis. Revisions to the accounting estimates are recognised in the period in which the estimate is revised where the revision affects on that period, or in the period of the revision and future periods where the revision affects both the current and future periods.
In preparing these financial statements, the trustees have made the following judgements:
## _Depreciation_
Tangible fixed assets are depreciated over a period to reflect their estimated useful life. The applicability of the assumed lives is reviewed annually, taking into accounts factors such as physical condition, maintenance and obsolescence.
## _Accruals_
Accruals are applied at the year end based upon financial costs incurred post year end and the experience of the trustees.
## **Transfers**
Transfers are made during where assets are purchased from specific funds in relation to the purchase of fixed assets to combine ringfence these and reduce the fund to agree to the net book value of these assets.
## **Prior year adjustment**
Note needs added to disclose this
12
## **FORTHILL COMMUNITY SPORTS CLUB**
## **Notes to the Accounts (cont) for the year ended 31 March 2023**
## **1. Donations and legacies**
|**Donations and legacies**
**Unrestricted Restricted**
**Funds**
**Funds**
**2023**
**2023**
**£**
**£**
Donations
200
-
Legacies
-
-
Grants
1,000
10,732
**1,200**
**10,732**|**Total**
**Funds**
**2023**
**£**
200
-
11,732
**11,932**|**Total**
**Funds**
**2022**
**As restated**
**£**
110
1,000,000
27,471
**1,027,581**|
|---|---|---|
Income from donations and legacies in the prior year was £1,027,581, of which £6,063 was unrestricted and £1,021,518 was restricted.
|**2.**
**Charitable Activities**
**Unrestricted Restricted**
**Funds**
**Funds**
**2023**
**2023**
**£**
**£**
Bar rental
12,000
-
Indoor sports club
18,335
-
Outdoor sports
23,092
-
Fundraising committee
27,451
-
**80,878**
**-**|**Total**
**Total**
**Funds**
**Funds**
**2023**
**2022**
**As restated**
**£**
**£**
12,000
12,000
18,335
8,860
23,092
22,369
27,451
10,388
**80,878**
**53,617**|
|---|---|
Income from charitable activities in the prior year was £53,617, all of which was unrestricted.
|**3.** **Resources expended**
**Unrestricted Restricted**
**Funds**
**Funds**
**2023**
**2023**
**Charitable activities**
**£**
**£**
Staff costs
34,311
-
Staff training
102
-
Rates and water
2,431
-
Heat and light
17,938
-
Property repairs and maintenance
23,723
152,145
Insurance
8,910
-
Other establishment costs
4,059
600
IT, software and consumables
561
-
Office costs
770
-
Interest on bank loans and overdrafts
6,863
-
Hire of equipment
938
-
Independent examination fee
1,195
-
Legal and professional fees
1,962
26,446
Bad debts
-
-
Depreciation
744
-
104,507
179,191|**Total**
**Total**
**Funds**
**Funds**
**2023**
**2022**
**As restated**
**£**
**£**
34,311
19,163
102
-
2,431
1,649
17,938
7,962
175,868
27,373
8,910
6,617
4,659
3,413
561
671
770
924
6,863
7,055
938
150
1,195
1,195
28,408
11,293
-
80
744
595
283,698
88,140|
|---|---|
Resources expended in the prior year was £88,140, of which £54,761 was unrestricted and £33,379 was restricted.
13
## **FORTHILL COMMUNITY SPORTS CLUB**
## **Notes to the Accounts (cont) for the year ended 31 March 2023**
## **4. Staff Costs**
The average weekly number of employees during the year was made up as follows:
|Trustees
Others
Staff costs were as follows:
Salaries
Social security costs
Pension scheme contributions|Number
9
3
**2023**
**£**
32,952
1,071
288
34,311|Number
9
3
**2022**
**£**
19,042
64
6
19,112|
|---|---|---|
|||
|
The charity considers that its key management personnel comprise of the Trustees. The total employment benefits of the key management personnel were £Nil (2022 - £Nil). There were no (2022 – nil) employees whose emoluments for the year were greater than £60,000.
## **5. Trustee Remuneration and expenses**
Trustees received no emoluments, nor were any expenses reimbursed (2022 – nil).
|**6**.
**Fixed Asset**
**Freehold**
**Tennis**
**Property**
**Equipment**
**Court**
**£**
**£**
**£**
**Cost or valuation**
At 1 April 2022
874,158
7,916
-
Additions
38,531
1,583
13,199
Disposals
-
-
-
At 31 March 2023
912,689
9,499
13,199
**Depreciation**
At 1 April 2022
-
4,534
-
Charge for year
-
744
-
At 31 March 2023
-
5,278
-
**Net Book Value**
At 31 March 2023
**912,689**
**4,221**
**13,199**
At 31 March 2022
874,158
3,382
-|**Cricket**
**Project**
**£**
-
27,759
-
27,759
-
-
-
**27,759**
-|**Total**
**£**
882,074
81,072
-
963,146
4,534
744
5,278
**957,868**
877,540|
|---|---|---|
Tangible fixed assets held at valuation
The freehold properties were revalued on 21[st] February 2018 by DM Hall LLP. The valuation was prepared in accordance with comparative and investment principles of the valuation methodology outlined by RICS, assuming vacant possession. The surplus arising on the revaluation was credited to the revaluation reserve.
14
## **FORTHILL COMMUNITY SPORTS CLUB**
## **Notes to the Accounts (cont) for the year ended 31 March 2023**
## **6. Fixed Asset (cont)**
In respect of tangible fixed assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised is the asset had been carried under the historical cost model are as follows:
|**At 31 March 2023**
Aggregate cost
Aggregate depreciation
Carrying value
**At 31 March 2022**
Aggregate cost
Aggregate depreciation
Carrying value
**2022 comparatives (As restated)**
**Cost or valuation**
At 1 April 2022
Additions
Disposals
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for year
At 31 March 2023
**Net Book Value**
At 31 March 2023
At 31 March 2022|
**Freehold**
**Property**
**Equipment**
**£**
**£**
829,871
7,816
44,287
100
-
-
874,158
7,916
-
3,939
-
595
-
4,534
**874,158**
**3,382**
829,871
3,560|**Freehold**
**Property**
**£**
261,098
-
261,098
261,098
-
261,098
**Total**
**£**
837,687
44,387
-
882,074
4,534
595
4,534
**877,540**
833,431|
|---|---|---|
Fixed assets in the prior year were £877,540 of which £840,667 was unrestricted and £36,873.
**7. Investments**
|**Investments**||
|---|---|
||**Shares in group**|
||**undertakings**|
|**Cost or valuation**||
|At 1 April 2021/1 April 2022 and March 2022/March 2023|1|
|**Impairment**||
|At 1 April 2021/1 April 2022 and March 2022/March 2023|**-**|
|**Carrying amount**||
|At 31 March 2022 and 31 March 2023|1|
|Investments in the prior year were £1, all of which were unrestricted.||
15
## **FORTHILL COMMUNITY SPORTS CLUB**
## **Notes to the Accounts (cont) for the year ended 31 March 2023**
## **8. Current Assets**
## **Debtors: Amounts falling due within one year**
|Debtors
Amounts owed by group undertakings
Accrued income
Prepayments
|**2023**
**£**
2,686
95,657
500,000
4,214
602,557|**2022**
**As restated**
**£**
3,659
96,807
900,000
4,224
1,004,690|
|---|---|---|
Debtors in the prior year were £1,004,690, of which £104,690 was unrestricted and £900,000.
## **Cash at bank**
Cash at bank and in hand in prior year was £58,181, of which £9,915 was unrestricted and £48,266 was restricted.
## **9. Creditors: Amounts falling due within one year**
|**reditors: Amounts falling due within one year**
Bank loans and overdrafts
Trade creditors
Social security and other taxes
Other creditors
Deferred income
Accruals
|**2023**
**2022**
**As restated**
**£**
**£**
4,600
4,600
11,939
8,687
448
176
4,184
4,655
-
8,950
10,450
1,888
31,621
28,956|
|---|---|
Creditors due within 1 year in the prior year were £28,956, all of which was unrestricted.
|**10. Creditors: Amounts falling due within one year**
Bank loans and overdrafts
Other creditors|**2023**
**2022**
**As restated**
**£**
**£**
120,619
125,689
41,870
28,374
162,489
158,063|
|---|---|
Creditors due in over 1 year in the prior year were £158,063, all of which was unrestricted.
Bank borrowings are secured by a charge over the assets of the charity.
16
## **FORTHILL COMMUNITY SPORTS CLUB**
## **Notes to the Accounts (cont) for the year ended 31 March 2023**
## **11. Funds**
|**Restricted Funds**
Legacy Fund
Asset Fund
Adapt to Thrive
**Unrestricted Funds**
General Fund
Designated Fund
Revaluation Reserve
**Total Funds**
**2022 comparatives (As restated)**
**Restricted Funds**
Legacy Fund
Asset Fund
Adapt to Thrive
**Unrestricted Funds**
General Fund
Designated Fund
Revaluation Reserve
**Total Funds**|**Balance at Incoming**
**Outgoing**
**01.04.22**
**Resources Resources Transfers**
**£**
**£**
**£**
**£**
934,766
-
(179,191)
(58,247)
36,872
10,732
-
58,247
13,500
-
-
-
203,482
104,543
(105,496)
-
568,773
-
-
-
**1,757,393**
**115,275**
**(284,687)**
**-**
**Balance at Incoming Outgoing**
**01.04.21 Resources Resources**
**Transfers**
**£**
**£**
**£**
**£**
-
1,000,000
(33,379)
(31,855)
-
8,017
-
28,855
-
13,500
-
-
197,558
59,685
(56,761)
3,000
568,773
-
-
-
**766,331**
**1,081,202**
**(90,140)**
**-**|**Balance at**
**31.03.23**
**£**
697,328
105,851
13,500
202,529
568,773
**1,587,981**
**Balance at**
**31.03.22**
**£**
934,766
36,872
13,500
203,482
568,773
**1,757,393**|
|---|---|---|
||
||
## **Purpose of Restricted and Designated Funds**
## **Restricted Funds**
Legacy fund – funds from Mr John William Hay legacy to be used towards the upgrade of the building and facilities.
Asset Fund – funds restricted for assets purchased from restricted sources, this will be reduced in line with the depreciation charged on such assets.
Adapt to Thrive – funds towards the employment of a general manager.
## **Designated Funds**
Revaluation Reserve – surplus due to the comparative and investment principles of the valuation methodology outlined by RICS, assuming vacant possession, and DM Hall valuation. The surplus arising on the revaluation was credited to the revaluation reserve.
17
## **FORTHILL COMMUNITY SPORTS CLUB**
## **Notes to the Accounts (cont) for the year ended 31 March 2023**
## **12. Analysis of Net Assets between Funds**
|**Analysis of Net Assets between Funds**|||
|---|---|---|
|Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Net assets at 31 March 2023
**2022 comparatives (As restated)**
Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Net assets at 31 March 2022|**Unrestricted**
**General**
**Designated**
**Restricted**
**£**
**£**
**£**
283,244
568,773
105,851
1
-
-
113,394
-
710,828
(31,621)
-
-
(162,489)
-
-
202,529
568,773
816,679
**Unrestricted**
**General**
**Designated**
**Restricted**
**£**
**£**
**£**
271,895
568,773
36,872
1
-
-
114,605
-
948,266
(28,956)
-
-
(154,063)
-
-
203,482
568,773
985,138|**Total**
**£**
957,868
1
824,222
(31,621)
(162,489)
1,587,981
**Total**
**£**
877,540
1
1,062,871
(28,956)
(154,063)
1,757,393|
||||
## **13. Related parties**
During the year the charity received rental payments of £12,000 (2022 - £12,000) from its subsidiary company Forthill SC Limited. During the year the charity advanced a further £29,473 (2022 - £13,748) and received repayments of £30,623 (2022 - £16,063) to its subsidiary. At the year end, the charity was due to receive £95,957 (2022 - £96,807) from Forthill SC Limited.
18