REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Period 25 March 2022 to 31 March 2023 |
for |
Croston Sports Club |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Period 25 March 2022 to 31 March 2023 |
for |
Croston Sports Club |
Croston Sports Club |
Contents of the Financial Statements |
for the period 25 March 2022 to 31 March 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 9 |
Croston Sports Club |
Reference and Administrative Details |
for the period 25 March 2022 to 31 March 2023 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | McMillan & Co LLP |
Chartered Accountants |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
Croston Sports Club (Registered number: 14002373) |
Report of the Trustees |
for the period 25 March 2022 to 31 March 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 25 March 2022 to 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
INCORPORATION |
The charitable company was incorporated on 25 March 2022 . |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
To promote for the benefit of the inhabitants of Croston and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstance or for the public at large in the interest of social welfare. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The company limited by guarantee was incorporated on 25 March 2022 and was entered in the Register of Charities on 17 August 2022. The aim is to take over the assets of the unincorporated Croston Sports Club, a Community Amateur Sports Club, and to promote Project SPACE to enhance the sporting activities available. |
Much of the past year and beyond has been spent in discussions with the Blackburn Diocesan Board of Finance Ltd regarding the lease of the large field adjacent to the current Sports Club. Thanks to goodwill on both sides, the Agreement for Lease has now been completed and this ensures that the 125 year lease will be granted to the charity once full planning approval is gained. |
In addition to this, a great deal of work has gone into re-structuring club governance in order to ensure that robust structures are in place to deal with the new facilities that will come along with Project SPACE. |
The next step is to confirm the plans prior to submitting them to Chorley Council for full approval - currently there is only outline approval. The rise in costs over the past two years will mean that the trustees will have to take some difficult decisions around what can be afforded with the funds currently promised and available. |
In order to supplement these funds, the trustees are in negotiation with various funding bodies such as the Football Foundation. The success or otherwise of these negotiations will determine the extent to which the trustees can fulfil the original plans of Project SPACE. |
The project team remains committed to the plan of ensuring that Croston has a Sports Club of which it can be proud and facilities which meet the needs and aspirations of the local community for many years to come. |
I am indebted to the trustees, members of the Club Management Committee and the Project SPACE team for their continuing support, hard work and commitment, which have been given freely and willingly and, without which, Croston Sports Club could not flourish. |
FINANCIAL REVIEW |
Financial position |
During the period grants of £50,000 have been received from a charity and the expenditure has been on the enabling costs of Project SPACE as well as the cost of cricket nets and additional cricket tuition. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is a charitable company limited by guarantee and not having a share capital and, in accordance with Section 30(2) of the Companies Act 1985, is exempt from the requirement to use the word 'limited' as part of its name. It is governed by a Memorandum and Articles of Association. |
The charity was entered in the Central Register of Charities with effect from 17 August 2022 and accepted by the Inland Revenue as a Charity for tax purposes. |
Croston Sports Club (Registered number: 14002373) |
Report of the Trustees |
for the period 25 March 2022 to 31 March 2023 |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Croston Sports Club |
Independent examiner's report to the trustees of Croston Sports Club ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the period 25 March 2022 to 31 March 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
JFD McMillan FCA |
McMillan & Co LLP |
Chartered Accountants |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
31 October 2023 |
Croston Sports Club |
Statement of Financial Activities |
for the period 25 March 2022 to 31 March 2023 |
Unrestricted |
fund |
Notes | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
SPACE | 6,698 |
Cricket | 5,040 |
Total |
NET INCOME |
TOTAL FUNDS CARRIED FORWARD |
Croston Sports Club (Registered number: 14002373) |
Balance Sheet |
31 March 2023 |
Unrestricted |
fund |
Notes | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Cash at bank |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 5 | ( |
) |
NET ASSETS |
FUNDS | 6 |
Unrestricted funds |
TOTAL FUNDS |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023. |
The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Croston Sports Club |
Notes to the Financial Statements |
for the period 25 March 2022 to 31 March 2023 |
1. | GENERAL INFORMATION |
The charity is a registered charity in England and Wales and is unincorporated. The address of the principal office is Croston Sports Club, Westhead Road, Croston, Leyland, PR26 9RR. |
There are no material uncertainties about the charity's ability to continue. |
The presentational currency of the financial statements is the Pound Sterling (£). |
The amounts in the financial statements have been rounded to the nearest £1. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Investments |
Investments in subsidiary undertakings are recognised at cost. |
Croston Sports Club |
Notes to the Financial Statements - continued |
for the period 25 March 2022 to 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest. |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the period ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the period ended 31 March 2023. |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
MARKET VALUE |
Additions |
NET BOOK VALUE |
At 31 March 2023 | 1 |
There were no investment assets outside the UK. |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Amount due from subsidiary |
6. | MOVEMENT IN FUNDS |
Net |
movement |
in funds | At 31/3/23 |
£ | £ |
Unrestricted funds |
General fund | 38,262 | 38,262 |
TOTAL FUNDS | 38,262 | 38,262 |
Croston Sports Club |
Notes to the Financial Statements - continued |
for the period 25 March 2022 to 31 March 2023 |
6. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 50,000 | (11,738 | ) | 38,262 |
TOTAL FUNDS | ( |
) | 38,262 |
7. | RELATED PARTY DISCLOSURES |
8. | ULTIMATE CONTROLLING PARTY |
The company has no share capital but is limited by guarantee. The guarantee is limited to £10 per member and extends to twelve months after the date that the member leaves. There is no ultimate controlling party. |