Charity registration number 1177698
Company registration number 10227749 (England and Wales)
LONG EATON UNITED FOOTBALL CLUB LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
LONG EATON UNITED FOOTBALL CLUB LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr. N J Dargan
Mrs. A Dargan
Miss S E Dargan
Charity number
1177698
Company number
10227749
Registered office
1 Long Lane
Attenborough
Nottingham
United Kingdom
NG9 6BG
Independent examiner
Azets
2 Regan Way
Chetwynd Business Park
Chilwell
Nottingham
United Kingdom
NG9 6RZ
LONG EATON UNITED FOOTBALL CLUB LIMITED
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 - 15
LONG EATON UNITED FOOTBALL CLUB LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MAY 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 May 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 governing document, 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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The charity was registered as a charity on the 16 March 2018.

 

The charity's objects are for the benefit of the public:

 

1. To promote community participation in football;

 

2. To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life; and

 

3. to advance the education of children and young people whether or not undergoing formal education.

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

Achievements and performance

The Trustees confirm that the objectives have been successfully met during the year.

 

Over 30 community teams have operated from the club during the year. In addition, turn up and play groups for girls and boys aged 4-11 years of age have run successfully with management and supervision on a wholly voluntary basis.

 

The Trustees and Directors have provided financial and operational management on a voluntary basis which significantly reduces costs enabling all net funds raised to be used to further develop and improve the facilities available for members and the wider community.

 

A large part of the year has involved managing the operation of the state of the art, full size, floodlit 3G Astro facility along with all other club facilities. In addition, further works to the infrastructure and facilities have been completed during the year ended 31st May 2023.

 

The Trustees are satisfied that the affairs of the wholly owned subsidiary are effectively segregated from the company and that the company benefits from its activities which encourages more community participation in football.

Financial review

Unrestricted funds continue to be properly managed and the charity remains securely financed and able to cover all liabilities as and when they fall due.

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.

LONG EATON UNITED FOOTBALL CLUB LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
Structure, governance and management

The charity is controlled by its governing document, a constitution adopted in 2018.

 

The charity is a company limited by guarantee.

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:

 

Mr. N J Dargan
Mr. J C Fairley
(Resigned 10 November 2022)
Mrs. A Dargan
Miss S E Dargan

At every Annual Retirement Meeting from 2020 onwards (inclusive of 2020), one third , or the number nearest to one third of the Directors, must retire from office. Where more than one third of the Directors have served for the same period of time since their last appointment or reappointment those Directors shall agree amongst themselves which Directors shall retire, or in the event that agreement cannot be reached, the decision shall be made by lot. The retirement takes effect at the conclusion of the meeting, unless the Director is reappointed.

 

If the retirement of a director causes the number of Directors to fall below three, then the retiring Director shall remain in office until a new appointment is made.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

 

Supplier payment policy

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

 

The company's current policy concerning the payment of trade creditors is to:

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

Mr. N J Dargan
Mrs. A Dargan
Trustee
Trustee
15 November 2023
LONG EATON UNITED FOOTBALL CLUB LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LONG EATON UNITED FOOTBALL CLUB LIMITED
- 3 -

I report to the trustees on my examination of the financial statements of Long Eaton United Football Club Limited (the charity) for the year ended 31 May 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

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of FCCA, which is one of the listed bodies.

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.

Mr Stephen Anthony Harcourt FCCA (Senior Statutory Auditor)
Azets
2 Regan Way
Chetwynd Business Park
Chilwell
Nottingham
NG9 6RZ
United Kingdom
Dated: 15 November 2023
LONG EATON UNITED FOOTBALL CLUB LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income and endowments from:
Donations and legacies
2
50,000
106,500
Charitable activities
3
224,179
242,998
Investments
4
179
3
Other income
5
33,616
12,500
Total income
307,974
362,001
Expenditure on:
Charitable activities
6
223,652
184,732
Net income for the year/
Net movement in funds
84,322
177,269
Fund balances at 1 June 2022
711,450
534,181
Fund balances at 31 May 2023
795,772
711,450

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.
LONG EATON UNITED FOOTBALL CLUB LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 5 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
10
1,454,196
1,450,480
Investments
11
1
1
1,454,197
1,450,481
Current assets
Debtors
12
5,000
-
Cash at bank and in hand
133,663
174,504
138,663
174,504
Creditors: amounts falling due within one year
14
(40,862)
(164,626)
Net current assets
97,801
9,878
Total assets less current liabilities
1,551,998
1,460,359
Creditors: amounts falling due after more than one year
15
(756,226)
(748,909)
Net assets
795,772
711,450
Income funds
Unrestricted funds - general
795,772
711,450
795,772
711,450

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 May 2023.

The directors acknowledge their 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 15 November 2023
Mr. N J Dargan
Mrs. A Dargan
Trustee
Trustee
Company registration number 10227749
LONG EATON UNITED FOOTBALL CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 6 -
1
Accounting policies
Charity information

Long Eaton United Football Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 1 Long Lane, Attenborough, Nottingham, NG9 6BG, United Kingdom.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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.
LONG EATON UNITED FOOTBALL CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 7 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure on charitable activities includes staff costs, depreciation of the football clubs assets, premises expenses and other activities undertaken to further the purposes of the charity and their associated support costs.

Support costs are those functions that assist the work of the football club but do not directly undertake charitable activities. Support costs include the football clubs office, finance, and governance costs which support the football clubs delivery of the promotion of community participation in football. These costs have been allocated to expenditure on charitable activities. The bases on which support and governance costs have been allocated are set out in note 9.

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
5% Straight line
Plant and equipment
Enter depreciation rate via StatDB - cd76
Fixtures and fittings
15% Straight line
Computers
25% Straight line
Motor vehicles
25% 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
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
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).

LONG EATON UNITED FOOTBALL CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 8 -
1.9
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.

1.10
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.

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.

1.11
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.

LONG EATON UNITED FOOTBALL CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 9 -
2
Donations and legacies
Unrestricted
Unrestricted
funds
funds
general
general
2023
2022
£
£
Donations and gifts
50,000
106,500
3
Charitable activities

Promotion of community participation in football

Promotion of community participation in football

2023
2022
£
£

Membership subscriptions

108,052
105,463

Grant income

50,915
50,606

Rental income    

-
19,500

Pitch and activity hire

65,212
67,429
224,179
242,998
4
Investments
Unrestricted
Unrestricted
funds
funds
general
general
2023
2022
£
£
Interest receivable
179
3
5
Other income
Unrestricted
Unrestricted
funds
funds
general
general
2023
2022
£
£
Other income
33,616
12,500
LONG EATON UNITED FOOTBALL CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 10 -
6
Charitable activities

Promotion of community participation in football

2023
2022
£
£
Staff costs
30,356
12,096
Depreciation and impairment
86,301
84,790

Pitch and facility hire

(1)
-

Premises expenses

71,322
61,346
187,978
158,232
Share of support costs (see note 7)
25,479
15,078
Share of governance costs (see note 7)
10,195
11,422
223,652
184,732
7
Support costs
Support costs
Governance costs
2023
Support costs
Governance costs
2022
£
£
£
£
£
£

Computer running cost

479
-
479
182
-
182

Motor running expenses

8,492
-
8,492
7,250
-
7,250

Postage, courier and delivery charges

31
-
31
503
-
503

Bank charges

150
-
150
119
-
119

Insurances

3,195
-
3,195
4,228
-
4,228

Advertising

1,491
-
1,491
545
-
545

Telecommunications

1,141
-
1,141
1,334
-
1,334

Sundry expenses

10,500
-
10,500
917
-
917
Legal and professional
-
8,242
8,242
-
8,608
8,608

Accountancy

-
1,953
1,953
-
2,814
2,814
25,479
10,195
35,674
15,078
11,422
26,500
Analysed between
Charitable activities
25,479
10,195
35,674
15,078
11,422
26,500
8
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
LONG EATON UNITED FOOTBALL CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 11 -
9
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
5
2
Employment costs
2023
2022
£
£
Wages and salaries
30,356
12,096
There were no employees whose annual remuneration was more than £60,000.
LONG EATON UNITED FOOTBALL CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 12 -
10
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 June 2022
1,598,885
9,950
142,458
199
33,966
1,785,458
Additions
62,762
-
17,307
-
-
80,069
At 31 May 2023
1,661,647
9,950
159,765
199
33,966
1,865,527
Depreciation and impairment
At 1 June 2022
195,916
-
107,958
199
24,210
328,283
Depreciation charged in the year
58,301
-
24,747
-
-
83,048
At 31 May 2023
254,217
-
132,705
199
24,210
411,331
Carrying amount
At 31 May 2023
1,407,430
9,950
27,060
-
9,756
1,454,196
At 31 May 2022
1,402,970
-
34,501
-
13,009
1,450,480
LONG EATON UNITED FOOTBALL CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 13 -
11
Fixed asset investments
Other investments
Cost or valuation
At 1 June 2022 & 31 May 2023
1
Carrying amount
At 31 May 2023
1
At 31 May 2022
1
2023
2022
Other investments comprise:
Notes
£
£
Investments in subsidiaries
18
1
1
12
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by fellow group undertakings
5,000
-
13
Loans and overdrafts
2023
2022
£
£
Directors' loans
49,708
85,882
Payable within one year
49,708
56,333
Payable after one year
-
29,549

The long-term loans are provided by the directors and are not secured.

 

LONG EATON UNITED FOOTBALL CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 14 -
14
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Borrowings
49,708
56,333
Other taxation and social security
(9,846)
(23,043)
Grants
16
-
40,448
Trade creditors
-
89,888
Accruals and deferred income
1,000
1,000
40,862
164,626
15
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Borrowings
-
29,549
Grants
16
756,226
719,360
756,226
748,909
16
Grants

Deferred income is included in the financial statements as follows:

2023
2022
£
£
Deferred income is included within:
Current liabilities
-
40,448
Non-current liabilities
756,226
719,360
756,226
759,808
Movements in the year:
Deferred income at 1 June 2022
759,808
747,831
Released from previous periods
(41,082)
(44,023)
Resources deferred in the year
37,500
56,000
Deferred income at 31 May 2023
756,226
759,808
17
Related party transactions
LONG EATON UNITED FOOTBALL CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
17
Related party transactions
(Continued)
- 15 -
Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Rent received
2023
2022
£
£
Long Eaton United Community Football Club
-
12,000
Long Eaton United Football Trading Limited
-
7,500
-
19,500

During the course of the current financial year the club received voluntary support from employees of Long Eaton United Community Football Club to deliver the club’s holiday programme. They also assisted with managing the facilities on behalf of subscription paying teams. In addition the club also secured a direct donation of £10,000 as part of a donor support package for the mens first team.

18
Subsidiaries

These financial statements are separate charity financial statements for Long Eaton United Football Club Limited.

Details of the charity's subsidiaries at 31 May 2023 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Long Eaton United Football Trading  Limited
England and Wales
Management of 1st Team and Bar
Ordinary Shares
100.00
2023-05-312022-06-01falseCCH SoftwareiXBRL Review & Tag 2022.2102277492022-06-012023-05-3110227749bus:Director12022-06-012023-05-3110227749bus:Director32022-06-012023-05-3110227749bus:Director42022-06-012023-05-3110227749bus:Director22022-06-012023-05-31102277492023-05-31102277492022-05-31102277492021-06-012022-05-3110227749bus:FRS1022022-06-012023-05-3110227749bus:IndependentExaminationCharity2022-06-012023-05-3110227749bus:FullAccounts2022-06-012023-05-31xbrli:purexbrli:sharesiso4217:GBP