Charity registration number 1177366
Company registration number 04738011 (England and Wales)
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustee and Director
B Bivens
N Hickes
D Douglas
Dr C B King
P Majithia
B E Narasimhan
K Saunders
(Appointed 9 August 2022)
K Browne
(Appointed 8 June 2023)
J Davies
L F Walshe
(Appointed 12 June 2023)
J Taylor
S Grover
Secretary
K Saunders
(Appointed 9 August 2022)
Charity number
1177366
Company number
04738011
Registered office
Middlesex FA
Rectory Park
Ruislip Road
Northolt
UB5 5FA
Auditor
LB Group Limited (Stratford)
1 Vicarage Lane
Stratford
London
England
E15 4HF
Bankers
National Westminster Bank Plc
315 Station Road
Harrow
England
HA1 2AD
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Trustees' report
1 - 3
Statement of Trustees' responsibilities
4
Independent auditor's report
5 - 8
Statement of financial activities
9
Balance sheet
10
Statement of cash flows
11
Notes to the financial statements
12 - 25
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 JUNE 2023
- 1 -

The Trustees who are also directors of the Company for the purposes of the Companies Act, have pleasure in presenting their report and financial statements for the year ended 30 June 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 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

Objectives

The principal aim of the charitable company is to promote, develop and support the grassroots game of football within the geographical County of Middlesex. It is the vision of the charitable company that looks to provide everyone with the opportunity to participate in the game of football across Middlesex. Our boroughs with the County are the most densely populated and diverse in the country and we are committed to connecting and collaborating with everyone who would like to be involved.

 

Our primary focus is to make sure that when anyone chooses to participate in the game is to make sure that safeguards are in place to ensure that they have fun in a safe environment, creating pathways for them to stay in the game for as long as they wish to do so. At Middlesex FA, our staff and volunteers work tirelessly to share their passion for football. At our facility, Rectory Park, we are proud to have extended our reach by working with our partners to deliver on and off the pitch.

 

Our purpose is to ensure that every person in Middlesex have an opportunity to get involved in football. To achieve this vision, we have four simple values that staff, Council and Committee members here at the Association live and breathe to be committed, to be creative, to be collaborative and to be connected. With these values we will continue to move football forwards creating an environment where regardless of age, ability, faith, gender, sexuality, or background, people in Middlesex are able to enjoy the beautiful game.

 

Main activities

The main activities by the charitable company are to further its chartable purpose for the public benefit. This includes the provision of football coaching, training of referees and the organising and administering of competitions.

 

This can be seen in the following data relating to Affiliations to Middlesex FA

Male teams 2,367 with 34,031 male players. Female teams 281 with 4,656 female players.

Disability teams 40 with 459 disability players. Futsal teams 13 with 180 futsal players.

Registered referees 536, with 475 male referees and 61 female referees.

County cup competitions 25 for which 892 teams entered.

34 walking football teams playing in the affiliated leagues.

13 retained leagues.

Safeguarding 31 validation visits were undertaken.

Orange Ball Mental Fitness Programmes Delivered to North West London Mental Health League.

5 new disability recreational sessions delivered.

Middlesex FA supported grassroots clubs who received funding for items such as grass pitch investment, goalposts, changing rooms and pavilions amounting to £439,251 during the year.

92.8% of Youth Teams with a Qualified Coach.

Coaching courses were attended by 825 coaches during the year either on a virtual or face to face basis. This was across all aspects of the game from club coaches to referees.

Achievements and performance
Financial review

The accounts for the year ended 30 June 2023 show income resources of £873,270 (2022: £892,582).

 

Total fund balances amount to £2,039,933 (2022: £2,091,188).

Please refer to note 1.2 for going concern.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -

Middlesex FA’s policy is to maintain reserves at a discretionary minimum level of 6 months operating costs including restricted expenditure, in line with FA guidelines.

 

Our reserves level is monitored on a regular basis by the Board of Trustees with cash monitored by our CEO and Accountant on a frequent basis. This ensures that Middlesex FA have sufficient reserves to meet the requirements of the Association.

 

The CEO and Finance Director continue to explore strategies to invest any surplus reserves to support our charitable objectives.

Structure, governance and management

Middlesex County Football Association Limited is a registered charity and company limited by guarantee with no share capital. The liability of Trustees in the event of insolvent liquidation is limited to £10 each.

 

The company obtained charitable status on 28 February 2018 having previously operated as a not-for-profit organisation. The charitable company's governing document is its Articles of Association incorporated 17 April 2003, as amended on 6 June 2022.

 

Governance and management

The charitable company is governed by its Trustees. The Trustees are elected in a number of ways. The Chair by the membership at the Annual General Meeting, up to five by the Council, two hold positions by dint of office and Independent Trustees are appointed by the directors. Day to day management of the charitable company is delegated to the full-time Chief Executive who has overall responsibility for the company's staff.

 

Trustee induction and training

New Trustees receive briefings on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, and the content of the Articles of Association.

 

Related parties

The full-time Chief Executive (who is also a Trustee) receives remuneration for services. None of the other Trustees (save for the Finance Director, who is eligible but has a choice) receive remuneration from their work with the charitable company.

 

Pay policy for senior staff

The Trustees consider the Chief Executive and the senior management team to comprise the key management personnel of the charitable company in charge of directing and controlling, running and operating the charitable company on a day-to-day basis.

 

All Trustees give of their time freely and no Trustee received remuneration in the year. The pay of the senior staff is reviewed annually, considering the financial performance of the charitable company.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -

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:

 

L J O'Connor
(Resigned 15 August 2022)
M Heavey LLB (Hons)
(Resigned 31 December 2022)
B Bivens
N Hickes
D Douglas
Dr C B King
P Majithia
B E Narasimhan
K Saunders
(Appointed 9 August 2022)
K Browne
(Appointed 8 June 2023)
J Davies
L F Walshe
(Appointed 12 June 2023)
J Taylor
S Grover

 

Auditor

In accordance with the company's articles, a resolution proposing that LB Group Limited (Stratford) be reappointed as auditor of the company will be put at a General Meeting.

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

 

K Saunders
Trustee
14 February 2024
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -

The Trustees, who are also the directors of Middlesex County Football Association Limited (A charity and company limited by guarantee) for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the Trustees are required to:

 

 

 

 

 

The Trustees are responsible for keeping adequate accounting records that 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 Companies Act 2006. 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.

 

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEE OF MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
- 5 -

Opinion

We have audited the financial statements of Middlesex County Football Association Limited (A charity and company limited by guarantee) (the ‘charity’) for the year ended 30 June 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 30 June 2023 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key audit matter

We draw attention to note 15. The directors have sought to implement FRS102 and release the capital grant in line with the useful life of the related asset. The contractual term of the grant is 25 years and the useful life of the assets are both 50 years for buildings, and 10 years for artificial pitches. As such, if the grant was released over the contractual obligation of the grant, which would be a departure from FRS102, but reflective of the underlying legal agreement, then the grant liability would be that reflected within note 15 of the financial statements.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the Trustee with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustee are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEE OF MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
- 6 -
Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the Trustees' report; or

-

sufficient accounting records have not been kept; or

-

the financial statements are not in agreement with the accounting records; or

-

we have not received all the information and explanations we require for our audit.

Responsibilities of Trustee

As explained more fully in the statement of Trustees' responsibilities, the Trustee, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustee determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustee are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEE OF MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
- 7 -
Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

 

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

 

 

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

 

 

To address the risk of fraud through management bias and override of controls, we:

 

 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

 

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEE OF MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
- 8 -

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of directors and other management and the inspection of regulatory and legal correspondence, if any.

 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Richard Lane (Senior Statutory Auditor)
for and on behalf of LB Group Limited (Stratford)
14 February 2024
Chartered Accountants
Statutory Auditor
1 Vicarage Lane
Stratford
London
England
E15 4HF

LB Group Limited (Stratford) is eligible for reappointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2023
- 9 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
Notes
£
£
£
£
£
£
Income from:
Charitable activities
3
429,460
432,159
861,619
330,729
551,952
882,681
Investments
4
11,651
-
11,651
9,901
-
9,901
Total income
441,111
432,159
873,270
340,630
551,952
892,582
Expenditure on:
Charitable activities

Charitable activities

5
56,828
507,417
564,245
49,018
443,172
492,190

Support costs

5
360,280
-
360,280
344,861
-
344,861
Total charitable expenditure
417,108
507,417
924,525
393,879
443,172
837,051
Net incoming/(outgoing) resources before transfers
24,003
(75,258)
(51,255)
(53,249)
108,780
55,531
Gross transfers between funds
(32,000)
32,000
-
-
-
-
Net (expenditure)/income for the year/
Net movement in funds
(7,997)
(43,258)
(51,255)
(53,249)
108,780
55,531
Fund balances at 1 July 2022
1,896,673
194,515
2,091,188
1,949,922
85,735
2,035,657
Fund balances at 30 June 2023
1,888,676
151,257
2,039,933
1,896,673
194,515
2,091,188

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.
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 10 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
10
4,005,394
4,212,798
Investments
11
1
1
4,005,395
4,212,799
Current assets
Stocks
12
3,012
4,395
Debtors
13
372,636
389,272
Cash at bank and in hand
547,197
550,299
922,845
943,966
Creditors: amounts falling due within one year
14
(325,578)
(331,001)
Net current assets
597,267
612,965
Total assets less current liabilities
4,602,662
4,825,764
Creditors: amounts falling due after more than one year
15
(2,562,729)
(2,734,576)
Net assets
2,039,933
2,091,188
Income funds
Restricted funds
16
183,257
194,515
Unrestricted funds
1,856,676
1,896,673
2,039,933
2,091,188

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2023, although an audit has been carried out under section 144 of the Charities Act 2011.

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 financial statements were approved by the Trustee on 14 February 2024
S Grover
Trustee
Company registration number 04738011
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2023
- 11 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
22
(14,519)
115,075
Investing activities
Purchase of tangible fixed assets
(1,179)
(15,301)
Proceeds from disposal of tangible fixed assets
945
2,806
Investment income received
11,651
9,901
Net cash generated from/(used in) investing activities
11,417
(2,594)
Net cash used in financing activities
-
-
Net (decrease)/increase in cash and cash equivalents
(3,102)
112,481
Cash and cash equivalents at beginning of year
550,299
437,818
Cash and cash equivalents at end of year
547,197
550,299
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 12 -
1
Accounting policies
Charity information

Middlesex County Football Association Limited (A charity and company limited by guarantee) is a private company limited by guarantee incorporated in England and Wales. The registered office is Middlesex FA, Rectory Park, Ruislip Road, Northolt, UB5 5FA.

1.1
Accounting convention

The financial statements have been prepared in accordance with 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 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

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions by donors which have been raised by the charitable company for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Statutory grants which are given as contributions towards the charitable company's core services are treated as unrestricted.

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.
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 13 -
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.

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
2% straight line
Artificial pitches
10% straight line
Fixtures and fittings and equipment
25%-33% straight line

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).

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 14 -
1.10
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.

1.11
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.

1.12
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.

1.13

Grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the Statement of Financial Activities over the expected useful life of the asset. Grants towards revenue expenditure are released to the Statement of Financial Activities as the related expenditure is incurred.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 15 -
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.

 

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

 

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residue value are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation and the physical condition of assets. See note 11 for the carrying amount of the plant and machinery and note 1.6 for the useful lives for each class of assets.

3
Charitable activities

Income from charitable activities

Restricted income grants

Total
2023

Income from charitable activities

Restricted income grants

Total
2022
2023
2023
2022
2022
£
£
£
£
£
£
Income relating to footballing activities
799,133
62,486
861,619
653,877
228,804
882,681
799,133
62,486
861,619
653,877
228,804
882,681
Analysis by fund
Unrestricted funds
429,460
-
429,460
330,729
-
330,729
Restricted funds
369,673
62,486
432,159
323,148
228,804
551,952
799,133
62,486
861,619
653,877
228,804
882,681
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 16 -
4
Investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Bank interest receivable
4,843
1,432
Interest receivable from group undertakings
6,808
8,469
11,651
9,901
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 17 -
5
Charitable activities

Charitable activities

Support costs

Total
2023

Charitable activities

Support costs

Total
2022
2023
2023
2022
2022
£
£
£
£
£
£
Staff costs
-
8,165
8,165
-
9,236
9,236

Coaching

10,920
-
10,920
20,243
-
20,243

Rent payable

-
6,845
6,845
-
5,134
5,134

Insurance

-
4,393
4,393
-
3,514
3,514

Competition costs

38,909
-
38,909
23,960
-
23,960

Headquarter costs

6,999
53,725
60,724
4,815
54,180
58,995

Auditors remuneration

-
9,650
9,650
-
7,128
7,128

Legal and professional

-
9,683
9,683
-
8,856
8,856

Telephone, postage, stationery and printing

-
7,523
7,523
-
9,922
9,922
Bookkeeping and support services
-
27,035
27,035
-
16,054
16,054

Meetings and travel

-
19,824
19,824
-
10,956
10,956

Irrecoverable VAT

-
21,096
21,096
-
17,517
17,517

General expenses

-
9,704
9,704
-
1,494
1,494

Wages and salaries

-
135,989
135,989
-
103,546
103,546

Bank charges

-
5,330
5,330
-
5,504
5,504
Other charitable expenditure
-
41,318
41,318
-
91,820
91,820
56,828
360,280
417,108
49,018
344,861
393,879
Development & participation expenditure
420,304
-
420,304
415,963
-
415,963
Womens legacy expenditure
87,113
-
87,113
27,209
-
27,209
564,245
360,280
924,525
492,190
344,861
837,051
Analysis by fund
Unrestricted funds
56,828
360,280
417,108
49,018
344,861
393,879
Restricted funds
507,417
-
507,417
443,172
-
443,172
564,245
360,280
924,525
492,190
344,861
837,051
6
Net movement in funds
2023
2022
£
£
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets
35,793
35,851
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 18 -
7
Auditor's remuneration
Fees payable to the charity's auditor and associates:
2023
2022
£
£
Audit of the charity's annual accounts
5,000
5,000
8
Trustee

During the year the full time Chief Executive received a salary. No 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
14
14
Employment costs
2023
2022
£
£
Wages and salaries
409,224
412,674
Social security costs
41,512
42,193
Other pension costs
9,900
9,236
460,636
464,103

The number of employees whose annual remuneration was more than £60,000 was Nil (2021: Nil).

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 19 -
10
Tangible fixed assets
Leasehold land and buildings
Artificial pitches
Fixtures and fittings and equipment
Total
£
£
£
£
Cost
At 1 July 2022
3,744,176
1,249,636
116,909
5,110,721
Additions
-
-
1,179
1,179
Disposals
-
-
(945)
(945)
At 30 June 2023
3,744,176
1,249,636
117,143
5,110,955
Depreciation and impairment
At 1 July 2022
299,594
499,854
98,473
897,921
Depreciation charged in the year
74,884
124,964
7,792
207,640
At 30 June 2023
374,478
624,818
106,265
1,105,561
Carrying amount
At 30 June 2023
3,369,698
624,818
10,878
4,005,394
At 30 June 2022
3,444,581
749,781
18,436
4,212,798

Land and buildings leasehold comprises Rectory Park, the charitable company's new headquarters. The artificial pitches comprises two full size 3G pitches on the Rectory Park site. The building and pitches were constructed in conjunction with Ealing Council and were substantially grant funded, including a significant grant from the Football Foundation. The Football Foundation grant was made to Ealing Council on the condition that a 125 year lease for the site was entered into with Middlesex County Football Association Limited. The charitable company has signed a deed of adherence and is liable to repay the Football Foundation grant if the conditions of the grant award deed are not maintained for a 25-year period.

 

The Trustees are therefore of the opinion that the substance of the transaction is that the charitable company received the full benefit of the grant and that the charitable company received substantially all the rights and obligations of ownership of the building and artificial pitches. The buildings and pitches have therefore been recognised as a tangible fixed asset. The assets are being depreciated over their useful lives in accordance with the depreciation policies. The grant received is recognised as a deferred capital grant within "Creditors: amounts falling due within one year" and "Creditors: amounts falling due after one year" and is released to the Statement of Financial Activities over the lower of the useful life of the assets and the 25 year period of the grant. The charitable company's commitments under the 125 year lease are shown under "Operating Leases".

 

 

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 20 -
11
Fixed asset investments
Other investments
Cost or valuation
At 1 July 2022 & 30 June 2023
1
Carrying amount
At 30 June 2023
1
At 30 June 2022
1
2023
2022
Other investments comprise:
Notes
£
£
Investments in subsidiaries
21
1
1

Fixed asset investments relate to 100% of the Ordinary Shares in Middlesex Community Football Centres Limited and are valued at cost.

12
Stocks
2023
2022
£
£
Finished goods
3,012
4,395
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 21 -
13
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
22,816
22,758
Other debtors
13,656
52,934
Prepayments and accrued income
73,466
-
109,938
75,692
2023
2022
Amounts falling due after more than one year:
£
£
Amounts owed by fellow group undertakings
262,698
313,580
Total debtors
372,636
389,272

 

 

 

14
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Other taxation and social security
9,671
19,887
Deferred income
216,115
198,749
Trade creditors
32,533
46,810
Other creditors
47,726
54,036
Accruals and deferred income
19,533
11,519
325,578
331,001
MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 22 -
15
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Deferred income
2,562,729
2,734,576

Included within other creditors more than one year is a capital grant amounting to £2,562,729 (2022: £2,734,576). Capital grant represents the long-term element of grants received for the construction of Rectory Park site as described under Tangible Fixed Assets on note 10 of the financial statements.

 

Grants are released in accordance with the accounting policy note 1.13 in relation to government grants and FRS102. If the grant was to be amortised at the lower of the useful life of the related asset and the contractual obligation of the lease then the release of the grant in the period would be £218,731. Over the life time of the grant, from inception, this would result in an amortised capital grant of £2,281,428 (2022: £2,500,159) over one year. The deferred grant under one year would be £218,731 (2022: £218,731). This increased release is in line with the underlying legal agreement but would result in a departure from FRS102.

 

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 23 -
16
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
Movement in funds
Balance at
1 July 2021
Incoming resources
Resources expended
Balance at
1 July 2022
Incoming resources
Resources expended
Transfers
Balance at
30 June 2023
£
£
£
£
£
£
£
£
Development and participation
3,372
228,804
(92,815)
139,361
62,486
(50,631)
-
151,216
Womens legacy
82,363
-
(27,209)
55,154
-
(87,113)
32,000
41
FA Grants
-
323,148
(323,148)
-
369,673
(369,673)
-
-
85,735
551,952
(443,172)
194,515
432,159
(507,417)
32,000
151,257

Development and participation - Funds to deliver Grassroots Football programmes in Middlesex.

Women's legacy - Fund support enabling the development of Women's football in Middlesex.

FA Grants - Providing funding to run the Grassroots Football in Middlesex.

 

 

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 24 -
17
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Fund balances at 30 June 2023 are represented by:
Tangible assets
4,005,394
-
4,005,394
4,212,798
-
4,212,798
Investments
1
-
1
1
-
1
Current assets/(liabilities)
446,010
151,257
597,267
418,450
194,515
612,965
Long term liabilities
(2,562,729)
-
(2,562,729)
(2,734,576)
-
(2,734,576)
1,888,676
151,257
2,039,933
1,896,673
194,515
2,091,188
18
Financial commitments, guarantees and contingent liabilities

During 2018 a grant of £3,243,812 was paid to Ealing Council by the Football Foundation in respect of the construction of the Rectory Park site. The assets and grants have been recognised in the charitable company's accounts as described under "Tangible Fixed Assets". The Football Foundation has a charge on the leasehold land at the Rectory Park site and the grant is repayable by Middlesex County Football Association Limited to The Football Foundation if the grant conditions are not adhered to for a period of 25 years. At the balance sheet date, the amortised amount of the grant remains recognised within deferred income under "Creditors: amounts falling due within one year" and "Creditors: amounts falling due after one year".

19
Related party transactions

The subsidiary company, Middlesex Community Football Centre Limited, operates facilities based at the Rectory Park site, the headquarters of Middlesex County Football Association Limited.

 

Some costs incurred are common to both companies and are apportioned on a reasonable basis. Expenses are generally cross-charged at partner rates. The company has provided a loan to the subsidiary undertaking, Middlesex Community Football Centre Limited, to assist with working capital requirements.

 

The company extended the terms of this loan so as to provide a level of support which is expected to be sufficient to cover the operational needs of the company for a period of approximately eight years. As at 30 June 2023, included within debtors falling due after more than one year the company was owed an amount of £262,698 (2022: £313,580) by the subsidiary undertaking. Interest is charged on outstanding balances at a rate of 2.5%.

20
Company limited by guarantee

Middlesex County Football Association Limited is a charity and company limited by guarantee and accordingly does not have a share capital.

 

Every member of the charitable company undertakes to contribute such amount as may be required not exceeding £10 to the assets of the charitable company in the event of its being wound up while he or she is a Trustee, or within one year after he or she ceases to be a Trustee.

MIDDLESEX COUNTY FOOTBALL ASSOCIATION LIMITED (A CHARITY AND COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 25 -
21
Subsidiaries

These financial statements are separate charity financial statements for Middlesex County Football Association Limited.

Details of the charity's subsidiaries at 30 June 2023 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Middlesex Community Football Centres Limited
United Kingdom
Sports and leisure facilities
Ordinary
100.00
22
Cash generated from operations
2023
2022
£
£
(Deficit)/surpus for the year
(51,255)
55,531
Adjustments for:
Investment income recognised in statement of financial activities
(11,651)
(9,901)
Movements in working capital:
Decrease/(increase) in stocks
1,383
(719)
Decrease in debtors
16,636
20,784
(Decrease)/increase in creditors
(22,789)
38,575
(Decrease) in deferred income
(154,481)
(246,479)
Cash absorbed by operations
(222,157)
(142,209)
23
Analysis of changes in net funds

The charity had no debt during the year.

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