Charity registration number 1095693
Company registration number 05511166 (England and Wales)
CHESTER BOXERS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
CHESTER BOXERS LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr. S J Goodwin
Mr. P Brocklehurst
Mr. K P Sweeney
Mr. S J Kirkham
Secretary
Mr C Kappler
Charity number
1095693
Company number
05511166
Registered office
Unit 3
Lightfoot Street
Chester
Cheshire
United Kingdom
CH2 3AD
Independent examiner
JG Consulting Limited
Groes Hall
Groes
Denbigh
Conwy
United Kingdom
LL16 5RS
CHESTER BOXERS LIMITED
CONTENTS
Page
Trustees' report
1 - 4
Statement of trustees' responsibilities
5
Independent examiner's report
6
Statement of financial activities
7
Balance sheet
8
Notes to the financial statements
9 - 16
CHESTER BOXERS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 July 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) (effective 1 January 2019)".

Objectives and activities

The Objectives of the charity continue to be ‘the promotion of community participation in healthy recreation in particular by the provision of facilities for boxing and martial arts. To this end the charity looks to provide professional instruction in the following activities, boxing, MMA, weight training, cage boxing, krav maga, Muay Thai. All classes continue to have a consistent number of members which tells us that our customers are enjoying our classes. the charity continues to utilize the gym facilities to engage with the local community to deliver support programmes on central and local government healthy living initiatives. Overall, the level of customers using our classes is similar to pre-COVID levels and we hope that these numbers will continue to increase although we understand the hardship many face at the moment. We have added more classes to try and improve our numbers.

 

The charity continues to maintain its existing equipment to a high standard. We are looking to minimise the purchase of new equipment until both the cost-of-living crisis eases along with the rising cost of energy. We will only purchase to equipment for the foreseeable future if we many to acquire funding as we believe any cash reserves held in our bank account must be used to cover overheads and to keep the gym open. We will however continue to maintain our current equipment to a high standard.

 

The Charity will still continue to have a strong relationship with Cheshire West and Chester council, and Cheshire Police where we still offer our full support towards the young offender’s scheme and the rehabilitation of adults sentenced to community service and are continually exploring more opportunities of joint ventures with existing bodies to further enhance the gyms work on the local community.

 

The many activities reported in our 2022 report remain available through the charity and focus on developing confidence, self-esteem and a disciplined lifestyle for people from a range of different backgrounds and of all age groups which is also having a great benefit on combating social isolation. Our staff continue to work one on one with our members to help distil discipline through self-defence. Working one on one give our staff the chance to identify behavioural problems and address them. To help advertise these services the charity is represented at local community meetings and events to highlight the services we offer.

 

The Charity is still highly active in working with children and adults who are classified as obese, providing fitness programmes for weight loss and advice on how to eat healthier and live a healthier lifestyle, which currently is a local and national problem have great strain on our national health service. The Charity has recognised that these activities can have a profound impact on an individual health and confidence. Various activities for children are attracting ever increasing attendances. We now have three dedicated nights for children’s classes and may add a third if the participants continue to grow.

The charity is still offering work experience positions to schools and colleges to enable young people to gain transferable skills to assist them when looking for future employment.

The Charity maintains it association with ‘Club mark’ (a national body which looks to improve the attraction to young people to take up sport by benchmarking services) and continues to maintain the required standard in delivering an excellent service.

 

As set in the 2021 and 2022 reports, the trustees were active in trying to locate new premises to try and reduce our overheads. This still remains on hold. We have renewed our lease in the meantime and a fixed rate with our current landlord.

 

The Charity is also working closely with volunteers to help increase and promote the profile of our club across social media platforms. We hope that this will help increase the number of members as well as promote the good causes our charity is engaged with.

CHESTER BOXERS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
Achievements and performance

Membership numbers this year have once again been hard to evaluate. The number of members is similar and slowly returning to pre-COVID years whilst also taking into account the current energy and cost of living crisis, we remain confident our numbers could return to those of previous years. Maintaining our level of members is indicative that the charity is continuing to have success in engaging with the community where any failure to achieve this would have seen a drop off in the number of members. We do however anticipate a reduction in numbers as people struggle with the increasing cost of energy. We hope numbers grow throughout 2024 as the cost of energy crisis now showing sign of returning to some sort of normality. We still do not want to increase prices, and this will be unbeneficial to us in meeting our objectives. A lot of families will encounter financial hardship this year with many still feeling the effects of COVID as well as rising energy bills which could continue into 2024. This we believe will have a negative effect on people’s mental health and hope having an affordable club will encourage people to exercise more which will undoubtedly help with mental health problems brought on by the hardships from the current cost of living crisis.

 

We have increased our number of teen and young adults by increasing the number of classes. We hope that by summer 2024 we will see a big increase in the number of children attending classes mainly due to the easing of reliance on energy throughout the summer.

 

We have also seen a rising number of people using our personal trainers. This has increased throughout the year and hope to see a continuation in this trend.

 

We now have ten medical cards for the gym which we are very happy with. We believe this shows our objectives are having a positive effect on the community. All our fighters are ready for competitive matches. We hope that this will help increase the profile of our charity.

 

We now have five qualified coaches volunteering and continue to offer high standards of training.

 

Overview

After overcoming all difficulties that have been presented to us of the last 36 months, it is of our opinion that the charity/ gym has managed to maintain its high level of standards. Financially we are stable, and all our staff and directors are working tirelessly to continue our good work and help take the charity on an upwards trajectory. We hope by the time of our next statement we will see customer traffic level off to slightly higher than previous years averages and our children’s classes become established.

 

We will continue to apply for funding to help improve facilities and hope to have more members taking part in competitions and representing our gym on an international stage. This we hope will raise our profile and help improve facilities and classes for all our members.

CHESTER BOXERS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
Financial review

2023 has carried on from the challenging trend from previous years. Though the global pandemic is now no longer current problem the cost-of-living crisis and high energy bills are still in strong affect. As well as the increasing wars currently taking place across the globe. The charity has always heavily relied on outsourced funding from municipal charities and organisations. Continuing to be able to remain open continuously has meant an increase on traffic numbers compared to previous years. Although comparisons to pre covid years has seen a reduction in the number of members and general foot traffic. The contributing factor for this is the current cost of living crisis. Income from the gym itself as well as income generated from our shop is still enough to keep the charity afloat and cover running costs and overheads although the margins are becoming tighter due to rising fuel costs. As always outsourced funding was always essential if we were to improve our facilities and equipment and we continue to try and raise grants to continually update and refurbish our equipment. We are currently in the process of applying for funding to install children’s facilities to increase the number of youngsters participating in sports as this would be seen as meeting a major objective of the charity.

 

There is currently no reserves policy in place, but this has not been problematic to the financial position in the past. Like previous years we are happy that we hold zero debt and believe this to be essential as not only does it show that the charity to be self-sustainable it also presents us with the freedom to reinvest our funds in new equipment. We have seen a fall in the average amount of cash in our account over the last year. The Charity realises that to fulfil its objectives there is a need to hold reserves to cover running expenses and small capital expenditure. Over the last 12 months this figure has been continually reviewed. The Charity has decided that funds exceeding this sum or deemed to be more than the charities immediate needs will be dispersed to organisations that in the management committee’s opinion reflect or mirror the objectives of the charity.

 

We faced challenging times from October 2023 to December 2023 which affected our cashflow as well as the foot traffic through the gym. Due to an error from our bank, our account was closed for a total of four weeks. This led to no payments being able to be taken electronically or could we bank what little we took in cash. The charity is still recovering from this to date.

 

There is currently no reserves policy in place but this has not been problematic to the financial position. The Charity will still work towards putting this in place. The charity realises that in order to fulfil its objectives there is a need to hold reserves to cover running expenses and small capital expenditure. Over the last 12 months this figure has been continually reviewed. Reserves do not now appear as a specific sum in the accounts and have become incorporated into cash held at the bank; this will be reviewed over the year. The charity has decided that funds exceeding this sum or deemed to be in excess of the charity's immediate needs will be dispersed to organisations that in the management committee's opinion reflect or mirror the objectives of the charity.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and consitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

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. S J Goodwin
Mr. T Carroll
(Resigned 24 March 2023)
Mr. P Brocklehurst
Mr. K P Sweeney
Mr. S J Kirkham

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.

CHESTER BOXERS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -

The charity adopted its constitution on the 18th of July 2005 and the constitution acts as the principle governance document.

 

Trustees are retired and can be re-elected at each Annual General Meeting. Trustees can be appointed to enable the skills sets of this tier of management to deal with the changing needs of the charity.

 

While the directors and trustees undertake the final decision making, this level of governance is informed by the management committee who undertake the day to day running of the charity. This structure provides adequate checks and balances in the management of the charity.

 

The management committee comprises of trustees, directors, officers and members who are elected in accordance with the constitution.

Statement of Public Benefit

The Trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission in December 2008.

 

It is the charity's objectives that members of the public will benefit from the development of the services offered by the charity and that this benefit should apply to all members of the public without discrimination of any kind. Towards this aim the trustees have guided the programme of services available to encourage the public to adopt healthier lifestyles. To engage in the promotion of drug awareness in schools and to promote the access to the gym and its facilities through the local council, registered housing providers and community organisations.

Risk Management

All major insurable risks are subject to the normal employer’s insurance. An annual review of areas of risk undertaken by trustees in conjunction with the staff responsible for that particular area of activity. As a result of risk analysis, the charity has ensured that all of their members of staff are trained in first aid to minimise risk to the members using the facility. 2023 has so far shown similar risks to the previous year and as such except for COVID, which the charity has been very proactive in continually deep cleansing and sanitisation of all equipment. COVID has left an improvement in cleanliness and hygiene across the gym and its facilities. We continue to deep cleanse our equipment and have kept in place the policies and continually cleaning equipment.

 

We have once again renewed our insurance and are covered through all possible outcomes, including liability cover for directors should a claim be brought against any of our committee members.

 

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

Mr. S J Goodwin
Trustee
29 July 2024
CHESTER BOXERS LIMITED
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 JULY 2023
- 5 -

The trustees, who are also the directors of Chester Boxers Limited 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:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

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.

CHESTER BOXERS LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CHESTER BOXERS LIMITED
- 6 -

I report to the trustees on my examination of the financial statements of Chester Boxers Limited (the charity) for the year ended 31 July 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.

John Gardner FCA
JG Consulting Limited
Chartered Accountants
Groes Hall
Groes
Denbigh
Conwy
LL16 5RS
United Kingdom
Dated: 29 July 2024
CHESTER BOXERS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
- 7 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:

Donations

5
35,080
-

Grant income

3
5,750
-
Other trading activities
4
47,668
54,909
Total income
88,498
54,909
Expenditure on:

Trading activities

6
9,232
11,635
Charitable activities
7
72,270
65,223
Total expenditure
81,502
76,858
Net income/(expenditure) for the year/
Net movement in funds
6,996
(21,949)
Fund balances at 1 August 2022
38,349
60,298
Fund balances at 31 July 2023
45,345
38,349

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.
CHESTER BOXERS LIMITED
BALANCE SHEET
AS AT 31 JULY 2023
31 July 2023
- 8 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
13
81,177
82,990
Current assets
Stocks
15
1,430
1,360
Debtors
14
254
-
Cash at bank and in hand
2,138
3,160
3,822
4,520
Creditors: amounts falling due within one year
17
(39,654)
(49,161)
Net current liabilities
(35,832)
(44,641)
Total assets less current liabilities
45,345
38,349
Income funds
Unrestricted funds
45,345
38,349
45,345
38,349

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 July 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 29 July 2024
Mr. S J Goodwin
Trustee
Charity number 1095693
Company registration number 05511166
CHESTER BOXERS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 9 -
1
Accounting policies
Charity information

Chester Boxers Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 3, Lightfoot Street, Chester, Cheshire, CH2 3AD, 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. 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.

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.

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.

CHESTER BOXERS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 10 -
1.5
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:

Improvements to property
20% on cost
Plant and machinery
25% reducing balance
Fixtures and fittings
20% on cost
Motor vehicles
15% 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.

1.6
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).

1.7
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 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.

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. As all financial assets are classified within one year, they are not amortised but carried at face value.

CHESTER BOXERS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 11 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities clasified as payable within one year are carried at face value.

 

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 continue to be measured at face value.

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 costs of short-term employee benefits are recognised as a liability and an expense.

 

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.

There are no accounting estimates in the current year.

3

Grant income

2023
2022
£
£

Grants from Cheshire West and Chester Council

5,750
-
CHESTER BOXERS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 12 -
4
Other trading activities
2023
2022
£
£

Gym fees, classes and other income

34,494
40,076
Shop income
13,174
14,833
Other trading activities
47,668
54,909
5

Donations

Unrestricted
Total
funds
2023
2022
£
£
Donations
35,080
-
6

Trading activities

2023
2022
£
£
Trading costs

Opening stock

1,360
1,300

Goods for resale

9,302
11,695

Closing stock

(1,430)
(1,360)
9,232
11,635
CHESTER BOXERS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 13 -
7
Charitable activities

Expenditure

Expenditure

2023
2022
£
£
Staff costs
18,743
15,053
Depreciation and impairment
23,297
23,908

Rent and rates

14,342
13,786

Light and heat

1,754
2,251

Telephone

1,084
1,087

Repairs and renewals

493
847

Subscriptions

959
775

Travel and subsistence

286
-

Gym overheads

1,237
706

Gym equipment

272
1,585

Insurance

2,153
1,875

Advertising

298
336
64,918
62,209
Grant funding of activities (see note 8)
4,000
-
Share of support costs (see note 9)
95
-
Share of governance costs (see note 9)
3,257
3,014
72,270
65,223
8
Grants payable

Expenditure

2022
2023
£
£
Grants to institutions:
Inspiring Futures - programme funding
4,000
-
-
CHESTER BOXERS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 14 -
9
Support costs
Support costs
Governance costs
2023
Support costs
Governance costs
2022
£
£
£
£
£
£

Bank charges

95
-
95
-
-
-
Accountancy
-
1,644
1,644
-
1,494
1,494
Professional fees
-
1,613
1,613
-
1,520
1,520
95
3,257
3,352
-
3,014
3,014
Analysed between
Charitable activities
95
3,257
3,352
-
3,014
3,014
10
Trustees

Trustees' remuneration and benefits

 

During the year one of the trustees received remuneration from Chester Boxers Limited. Amounts paid for salary totalled £18,447 (2022: £14,761) and pension contributions of £296 (2022: £292).

 

Trustees' expenses

 

There were no trustees expenses paid paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.

11
Employees
Number of employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
1
1
Employment costs
2023
2022
£
£
Wages
18,447
14,761
Pensions
296
292
18,743
15,053
12
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 Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

CHESTER BOXERS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 15 -
13
Tangible fixed assets
Improvements to property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2022
12,210
254,964
11,457
3,840
282,471
Additions
-
21,484
-
-
21,484
At 31 July 2023
12,210
276,448
11,457
3,840
303,955
Depreciation and impairment
At 1 August 2022
12,210
173,367
10,725
3,179
199,481
Depreciation charged in the year
-
22,867
313
117
23,297
At 31 July 2023
12,210
196,234
11,038
3,296
222,778
Carrying amount
At 31 July 2023
-
80,214
419
544
81,177
At 31 July 2022
-
81,597
732
661
82,990
14
Debtors
2023
2022
Amounts falling due within one year:
£
£
Prepayments and accrued income
254
-
15
Stocks
2023
2022
£
£
Stocks
1,430
1,360
16
Loans and overdrafts
2023
2022
£
£
Other loans
31,000
-
Payable within one year
31,000
-

At 31st July 2023 £31,000 (2022: £nil) had been advanced to the charity from Baranswift Limited. This loan was interest free and repayable on demand.

CHESTER BOXERS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 16 -
17
Creditors: amounts falling due within one year
2023
2022
£
£
Loan
31,000
-
Other taxation and social security
4,018
185
Trade creditors
-
45,066
Other creditors
311
219
Accruals and deferred income
4,325
3,691
39,654
49,161
18
Analysis of net assets between funds
Unrestricted funds
Unrestricted funds
2023
2022
£
£
Fund balances at 31 July 2023 are represented by:
Tangible assets
81,177
82,990
Current assets/(liabilities)
(35,832)
(44,641)
45,345
38,349
19
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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