REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
FOR |
DIDSBURY PLAYING FIELDS ASSOCIATION |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
FOR |
DIDSBURY PLAYING FIELDS ASSOCIATION |
DIDSBURY PLAYING FIELDS ASSOCIATION |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 13 |
DIDSBURY PLAYING FIELDS ASSOCIATION (REGISTERED NUMBER: 07558484) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
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 year ended 25 September 2022. 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The principal activities and objects of the charitable company as set out in the memorandum and articles of association are: |
The provision of a recreation ground for the benefit of the local residents without distinction of political, religious or other opinions, with the object of improving the conditions of life for the said inhabitants; The provision and maintenance of facilities for the recreation and other leisure - time occupation of the local residents to help educate them so as to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society and that their conditions of life may be improved. |
The DPFA was set up to facilitate the development of the community sports facilities at Simon's Field, Ford Lane, Didsbury, to which end it has taken over the lease of those fields and brought together grants and fund raising to build new changing facilities, create a cricket pitch and renovate the original clubhouse. |
Significant activities |
The principal areas of activity have been as follows: |
We continue to seek new strategic alliances with local sports clubs to optimise the use of a super sports hub and promote the use of the facilities by other local groups to use the sports and event facilities to make the facility as inclusive as possible. Our trading subsidiary, Didsbury Sports Ground Ltd, provides the means to implement our strategy and generate funds to maintain and improve the facilities we provide. |
FINANCIAL REVIEW |
Financial position |
During the year, the charitable company received income totalling £3,500 (2021: £28,389). Expenditure amounted to £56,829 (2021: £70,802) most of which is in relation to the depreciation of the buildings. |
The charitable company reported a deficit of £53,308 (2021: £40,923). |
Reserves policy |
The Trustees aim to maintain available reserves sufficient to act as a buffer to maintain activity should a drop in income or rise in expenditure occur that could impact upon the core purposes of the charity. |
At the year end, the total reserves were £654,831 (2021: £708,139) of which £483,845 (2021: 519,012) were unrestricted and £170,986 (2021: £189,127) were restricted. |
DIDSBURY PLAYING FIELDS ASSOCIATION (REGISTERED NUMBER: 07558484) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The governing documents of Didsbury Playing Fields Association are its Memorandum and Articles of Association.The company was incorporated on 9 March 2011 as a company limited by guarantee and as a charity on 3 May 2011. The charity is managed by a Board of Trustees that meets at regular intervals and is elected on an annual basis. |
Didsbury Playing Fields Association has a subsidiary company named Didsbury Sports Ground Limited, company (no 01587077) registered in England and Wales in which it owns 100% of the issued share capital. |
Decision making |
The charity is managed by a Board of Trustees that meets at regular intervals and is elected on an annual basis. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
Sedulo Accountants Limited |
Chartered Certified Accountants |
62-66 Deansgate |
Manchester |
M3 2EN |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
DIDSBURY PLAYING FIELDS ASSOCIATION |
Independent examiner's report to the trustees of Didsbury Playing Fields Association ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 25 September 2022. |
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. |
Daniel Wilson |
Sedulo Accountants Limited |
Chartered Certified Accountants |
62-66 Deansgate |
Manchester |
M3 2EN |
24 October 2023 |
DIDSBURY PLAYING FIELDS ASSOCIATION |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
2022 | 2021 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
as restated |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Grounds maintenance | - | - | - | 1,490 |
Investment income | 2 |
Total |
EXPENDITURE ON |
Charitable activities |
Grounds maintenance | 44,986 | 13,044 | 58,030 | 70,802 |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 708,139 |
DIDSBURY PLAYING FIELDS ASSOCIATION (REGISTERED NUMBER: 07558484) |
BALANCE SHEET |
25 SEPTEMBER 2022 |
2022 | 2021 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS | ( |
) | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 519,012 |
Restricted funds | 189,127 |
TOTAL FUNDS | 708,139 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25 September 2022. |
The members have not required the company to obtain an audit of its financial statements for the year ended 25 September 2022 in accordance with Section 476 of the Companies Act 2006. |
DIDSBURY PLAYING FIELDS ASSOCIATION (REGISTERED NUMBER: 07558484) |
BALANCE SHEET - continued |
25 SEPTEMBER 2022 |
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 |
DIDSBURY PLAYING FIELDS ASSOCIATION |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
1. | 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. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
Going concern |
At the time of approving the financial statements and having reviewed the charity’s financial performance and general reserves position, whilst mindful of the current economic climate and the potential impact upon our sources of income and planned expenditure, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about Didsbury Playing Fields Association as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Long leasehold | - |
Plant and machinery | - |
DIDSBURY PLAYING FIELDS ASSOCIATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
1. | ACCOUNTING POLICIES - continued |
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. |
2. | INVESTMENT INCOME |
2022 | 2021 |
as restated |
£ | £ |
Deposit account interest |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2022 | 2021 |
as restated |
£ | £ |
Depreciation - owned assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 25 September 2022 nor for the year ended 25 September 2021. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 25 September 2022 nor for the year ended 25 September 2021. |
DIDSBURY PLAYING FIELDS ASSOCIATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
as restated |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Grounds maintenance | 1,490 | - | 1,490 |
Total |
EXPENDITURE ON |
Charitable activities |
Grounds maintenance | 57,758 | 13,044 | 70,802 |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 546,891 | 202,171 |
TOTAL FUNDS CARRIED FORWARD | 519,012 | 189,127 | 708,139 |
6. | PRIOR YEAR ADJUSTMENT |
The financial statements for the year ended 25 September 2021 have been restated to correct amounts that were originally classified as intercompany loan to expenditure totalling £21,205. |
DIDSBURY PLAYING FIELDS ASSOCIATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
7. | TANGIBLE FIXED ASSETS |
Long | Plant and |
leasehold | machinery | Totals |
£ | £ | £ |
COST |
At 26 September 2021 and 25 September 2022 |
DEPRECIATION |
At 26 September 2021 |
Charge for year |
At 25 September 2022 |
NET BOOK VALUE |
At 25 September 2022 |
At 25 September 2021 |
There are 3 legal charges registered, which are secured on the leasehold properties of the association. |
8. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
MARKET VALUE |
At 26 September 2021 and 25 September 2022 |
NET BOOK VALUE |
At 25 September 2022 | 2 |
At 25 September 2021 | 2 |
There were no investment assets outside the UK. |
DIDSBURY PLAYING FIELDS ASSOCIATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
as restated |
£ | £ |
Amounts owed by group undertakings |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
as restated |
£ | £ |
Other loans (see note 11) |
Accruals and deferred income |
11. | LOANS |
An analysis of the maturity of loans is given below: |
2022 | 2021 |
as restated |
£ | £ |
Amounts falling due within one year on demand: |
Other loans | 22,510 | 25,008 |
12. | MOVEMENT IN FUNDS |
Net |
At | movement | At |
26.9.21 | in funds | 25.9.22 |
£ | £ | £ |
Unrestricted funds |
Unrestricted | 519,012 | (41,465 | ) | 477,547 |
Restricted funds |
Football Foundation Building Works | 189,127 | (13,044 | ) | 176,083 |
TOTAL FUNDS | (54,509 | ) | 653,630 |
DIDSBURY PLAYING FIELDS ASSOCIATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
12. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
Unrestricted | 3,521 | (44,986 | ) | (41,465 | ) |
Restricted funds |
Football Foundation Building Works | - | (13,044 | ) | (13,044 | ) |
TOTAL FUNDS | ( |
) | (54,509 | ) |
Comparatives for movement in funds |
Net |
At | movement | At |
26.9.20 | in funds | 25.9.21 |
£ | £ | £ |
Unrestricted funds |
Unrestricted | 546,891 | (27,879 | ) | 519,012 |
Restricted funds |
Football Foundation Building Works | 202,171 | (13,044 | ) | 189,127 |
TOTAL FUNDS | 749,062 | (40,923 | ) | 708,139 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
Unrestricted | 29,879 | (57,758 | ) | (27,879 | ) |
Restricted funds |
Football Foundation Building Works | - | (13,044 | ) | (13,044 | ) |
TOTAL FUNDS | 29,879 | (70,802 | ) | (40,923 | ) |
DIDSBURY PLAYING FIELDS ASSOCIATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 25 SEPTEMBER 2022 |
13. | RELATED PARTY DISCLOSURES |
During the year the company made payments to Didsbury F.C Limited totalling £Nil (2021: £710). A balance of £710 (2021: £710) was owed to Didsbury Playing Fields Association at the year end. |