Charity registration number 1143054
Company registration number 07447106 (England and Wales)
COCKLESHELL COMMUNITY SPORTS CLUB
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
COCKLESHELL COMMUNITY SPORTS CLUB
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Rebecca Parkyn
Jayne Marie Mills
John Cronin
(Appointed 10 November 2023)
Joanna Hindson
(Appointed 6 November 2023)
Jennifer Verhiest
(Appointed 10 November 2023)
Charity number
1143054
Company number
07447106
Registered office
35-37 St Simon's Road
Southsea
Hampshire
PO5 2PE
Independent examiner
Claire Norwood BSc FCA ATII
Jones Avens Limited
Piper House  4 Dukes Court
Bognor Road
Chichester
West Sussex
PO19 8FX
COCKLESHELL COMMUNITY SPORTS CLUB
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 12
COCKLESHELL COMMUNITY SPORTS CLUB
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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

The charity's objects, as set out in the Articles of Association, are to:

 

 

 

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Cockleshell Community Sports Club was indebted this year to the hirers of our grounds for donations totalling £17,821 which guaranteed the Club’s survival in the absence of any restricted grants in the year.

 

The company would also like to thank the representatives from all organisations who use the grounds for their continued support including help in maintaining the grounds and in the management of the company which is undertaken purely on a voluntary basis.

Financial review

The principal funding source is from the site and pitch letting charges.

 

In addition, donations have been received from Mayville High School Ltd and Meon Milton Football Club, which have been used for the general running of Cockleshell Community Sports Club and toward goal nets and the maintenance of the pitch respectively.

 

The results are shown in the financial statements.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

The company will continue to maintain the facilities available during the duration of the lease and make ongoing repairs to the premises.

 

The rugby pavilion will be renovated during 2024.

COCKLESHELL COMMUNITY SPORTS CLUB
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
Structure, governance and management

The charity is a company limited by guarantee, set up on 22 November 2010 and is a registered charity. The charity is controlled by its governing document, as amended on 7 November 2023.

 

The company provides sporting facilities for the benefit of schools, sporting clubs and association and the general public. Trustees meetings are held regularly to review the work of the charity and the facilities available.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Rebecca Parkyn
John William Deibel
(Resigned 3 February 2023)
Jayne Marie Mills
John Cronin
(Appointed 10 November 2023)
Joanna Hindson
(Appointed 6 November 2023)
Jennifer Verhiest
(Appointed 10 November 2023)

The Trustees are recruited from the local business community for their individual skills and to enable them to be satisfied that they can fulfil their duties.

 

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

The five trustees meet regularly and having considered matters make business decisions based upon a majority basis.

Suitable training and information is extended to trustees.

The Trustees' report was approved by the Board of Trustees.

Rebecca Parkyn
Trustee
27 November 2023
COCKLESHELL COMMUNITY SPORTS CLUB
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF COCKLESHELL COMMUNITY SPORTS CLUB
- 3 -

I report to the Trustees on my examination of the financial statements of Cockleshell Community Sports Club (the charity) for the year ended 31 March 2023.

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

Claire Norwood BSc FCA ATII
Jones Avens Limited
Piper House  4 Dukes Court
Bognor Road
Chichester
West Sussex
PO19 8FX
Dated: 27 November 2023
COCKLESHELL COMMUNITY SPORTS CLUB
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
2023
2022
2022
2022
Notes
£
£
£
£
Income and endowments from:
Donations and legacies
3
17,821
128,241
-
128,241
Charitable activities
4
39,305
41,995
-
41,995
Other income
5
36,467
13,083
-
13,083
Total income
93,593
183,319
-
183,319
Expenditure on:
Charitable activities
6
92,443
61,256
-
61,256
Other
10
915
-
-
-
Total expenditure
93,358
61,256
-
61,256
Gross transfers between funds
-
40,000
(40,000)
-
Net income for the year/
Net movement in funds
235
162,063
(40,000)
122,063
Fund balances at 1 April 2022
186,197
24,134
40,000
64,134
Fund balances at 31 March 2023
186,432
186,197
-
186,197

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
COCKLESHELL COMMUNITY SPORTS CLUB
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 5 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
12
243,796
227,199
Current assets
Debtors
13
508
237
Cash at bank and in hand
26,024
50,228
26,532
50,465
Creditors: amounts falling due within one year
15
(17,128)
(12,699)
Net current assets
9,404
37,766
Total assets less current liabilities
253,200
264,965
Creditors: amounts falling due after more than one year
16
(66,768)
(78,768)
Net assets
186,432
186,197
Income funds
Unrestricted funds
186,432
186,197
186,432
186,197

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 27 November 2023
Rebecca Parkyn
Trustee
Company registration number 07447106
COCKLESHELL COMMUNITY SPORTS CLUB
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
1
Accounting policies
Charity information

Cockleshell Community Sports Club is a private company limited by guarantee incorporated in England and Wales. The registered office is 35-37 St Simon's Road, Southsea, Hampshire, PO5 2PE.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
COCKLESHELL COMMUNITY SPORTS CLUB
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 7 -
1.5
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.

All expenditure is dealt with on an accruals basis, and allocated to the appropriate heading in the financial statements.

Governance costs are those associated with constitutional and statutory requirements.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
In accordance with the lease
Plant and equipment
80% Reducing Balance / 20% Reducing Balance
Fixtures and fittings
20% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

COCKLESHELL COMMUNITY SPORTS CLUB
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 8 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Critical accounting 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 reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
17,821
12,000

Grants receivable

-
116,241
17,821
128,241
COCKLESHELL COMMUNITY SPORTS CLUB
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
3
Donations and legacies
(Continued)
- 9 -
Grants receivable for core activities
Football Foundation
-
73,492
Meon Contribution
-
9,678
Mayville High School
-
20,000
Veolia Fence Grant
-
13,071
-
116,241
4
Charitable activities

Sports facilities

Sports facilities

2023
2022
£
£

Provision of sporting facilities

39,305
41,995
5
Other income
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Other income
36,467
13,083
6
Charitable activities

Sports facilities

Sports facilities

2023
2022
£
£
Staff costs
14,991
11,927
Depreciation and impairment
19,572
20,892

Premises costs

56,776
27,931
91,339
60,750
Share of governance costs (see note 7)
1,104
506
92,443
61,256
COCKLESHELL COMMUNITY SPORTS CLUB
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
7
Support costs
Support costs
Governance costs
2023
2022
£
£
£
£
Accountancy
-
1,104
1,104
1,008
Legal and professional
-
-
-
(502)
-
1,104
1,104
506
Analysed between
Charitable activities
-
1,104
1,104
506
8
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
2
2
Employment costs
2023
2022
£
£
Wages and salaries
14,791
11,802
Other pension costs
200
125
14,991
11,927
There were no employees whose annual remuneration was more than £60,000.
10
Other
Unrestricted
Total
funds
2023
2022
£
£
Net loss on disposal of tamgible fixed assets
915
-
915
-
COCKLESHELL COMMUNITY SPORTS CLUB
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 11 -
11
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2022
256,379
79,473
1,519
337,371
Additions
34,037
3,047
-
37,084
Disposals
(1,629)
-
-
(1,629)
At 31 March 2023
288,787
82,520
1,519
372,826
Depreciation and impairment
At 1 April 2022
57,500
51,774
897
110,171
Depreciation charged in the year
12,000
7,449
124
19,573
Eliminated in respect of disposals
(714)
-
-
(714)
At 31 March 2023
68,786
59,223
1,021
129,030
Carrying amount
At 31 March 2023
220,001
23,297
498
243,796
At 31 March 2022
198,879
27,698
622
227,199
13
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
165
30
Prepayments and accrued income
343
207
508
237
14
Loans and overdrafts
2023
2022
£
£
Other loans
66,768
78,768
Payable after one year
66,768
78,768
COCKLESHELL COMMUNITY SPORTS CLUB
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 12 -
15
Creditors: amounts falling due within one year
2023
2022
£
£
Other taxation and social security
-
(482)
Trade creditors
553
50
Other creditors
12,220
12,124
Accruals and deferred income
4,355
1,007
17,128
12,699
16
Creditors: amounts falling due after more than one year
2023
2022
£
£
Borrowings
66,768
78,768
17
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds
Balance at
1 April 2021
Transfers
Balance at
1 April 2022
Incoming resources
Balance at
31 March 2023
£
£
£
£
£
MUGA reserve fund
40,000
(40,000)
-
-
-

MUGA Reserve Fund

 

Contribution from Portsmouth City Council towards the refurbishments works to the sports pavilion to provide a fully functional facility including improvements to the changing rooms, WC facilities and modification to the wheelchair access.

 

The works to the sports pavilion commenced in the year, and the associated expenditure has been capitalised.

18
Related party transactions

Mayville High School Ltd is a company that is under common control.

 

During the year the company received income in respect of the hire of sports facilities totalling £14,000 and donations totalling £12,000 from Mayville High School Ltd.

 

The company repaid £12,000 of the loan owed to Mayville High School Ltd during the year, leaving a balance outstanding at the balance sheet date of £78,768.

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