REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 31 December 2023 |
for |
Caithness Motocross Club Ltd |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 31 December 2023 |
for |
Caithness Motocross Club Ltd |
Caithness Motocross Club Ltd |
Contents of the Financial Statements |
For The Year Ended 31 December 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 | to | 9 |
Caithness Motocross Club Ltd (Registered number: SC379832) |
Report of the Trustees |
For The Year Ended 31 December 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objectives of the company are to promote and encourage the sport of Motocross in the far north of Scotland. |
Significant activities |
There has been no activity in 2022 or 2023 as the land rented previously was not available. The costs incurred were administration costs.. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The charitable activities carried out were in accordance with the aims and objectives of the organisation which is to promote and encourage the sport of Motocross. |
Fundraising activities |
There were no fundraising events held this year due to no activities taking place. |
FINANCIAL REVIEW |
Principal funding sources |
The main sources of income are from membership fees and competition entry fees. As there was no track available this year, no membership fees were collected. |
Reserves policy |
There is only one unrestricted fund which exists to facilitate the running of the organisation. Any surplus achieved is retained in order to carry out essential maintenance work of the track. The reserves held at 31 December 2023 amounted to £3433. The trustees are retaining these funds at the moment to see if a suitable location for a track will become available in the future. |
A restricted fund exists for the upgrade of the race track and a grant for £3000 was received from Highland Council in 2015 for this purpose. A further grant of £750 was received from Highland Council in 2019. The trustees have confirmed with Highland Council and this grant is not required to be repaid. It has therefore been transferred to the unrestricted fund. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Caithness Motocross Club Ltd is a company limited by guarantee, governed by its Memorandum and Articles of Association. it is also a registered charity with the Office of Scottish Charity Register. In the event of the company being wound up, the contributions by each member is restricted to £1. |
Recruitment and appointment of new trustees |
New trustees are selected by the board. Their appointment is governed by the company's Memorandum and Articles of Association. |
Organisational structure |
The day to day management of the organisation is conducted by the management committee which includes directors. The committee meets at least six times during the year. |
Induction and training of new trustees |
New Trustees are guided in their duties by the existing trustees. |
Caithness Motocross Club Ltd (Registered number: SC379832) |
Report of the Trustees |
For The Year Ended 31 December 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
The Long Partnership |
Chartered Accountants |
Chartered Tax Advisers |
1 Sir John's Square |
Thurso |
Caithness |
KW14 7AN |
Bankers |
Wick |
Caithness |
KW1 4BU |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Caithness Motocross Club Ltd |
Independent examiner's report to the trustees of Caithness Motocross Club Ltd ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Alan E Long |
The Long Partnership |
Chartered Accountants |
Chartered Tax Advisers |
1 Sir John's Square |
Thurso |
Caithness |
KW14 7AN |
19 September 2024 |
Caithness Motocross Club Ltd |
Statement of Financial Activities |
For The Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 5 | 2,760 | (2,760 | ) | - | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 3,684 |
Caithness Motocross Club Ltd (Registered number: SC379832) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 4 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 5 |
Unrestricted funds | 924 |
Restricted funds | 2,760 |
TOTAL FUNDS | 3,684 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Caithness Motocross Club Ltd |
Notes to the Financial Statements |
For The Year Ended 31 December 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
2. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 2,292 | 2,760 |
Caithness Motocross Club Ltd |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
TOTAL FUNDS CARRIED FORWARD | 924 | 2,760 | 3,684 |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other creditors |
5. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.1.23 | in funds | funds | 31.12.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 924 | (251 | ) | 2,760 | 3,433 |
Restricted funds |
Track upgrade | 2,760 | - | (2,760 | ) | - |
TOTAL FUNDS | (251 | ) | 3,433 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | (251 | ) | (251 | ) |
TOTAL FUNDS | ( |
) | (251 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,292 | (1,368 | ) | 924 |
Restricted funds |
Track upgrade | 2,760 | - | 2,760 |
TOTAL FUNDS | 5,052 | (1,368 | ) | 3,684 |
Caithness Motocross Club Ltd |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
5. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | (1,368 | ) | (1,368 | ) |
TOTAL FUNDS | - | (1,368 | ) | (1,368 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.1.22 | in funds | funds | 31.12.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 2,292 | (1,619 | ) | 2,760 | 3,433 |
Restricted funds |
Track upgrade | 2,760 | - | (2,760 | ) | - |
TOTAL FUNDS | 5,052 | (1,619 | ) | - | 3,433 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | (1,619 | ) | (1,619 | ) |
TOTAL FUNDS | - | (1,619 | ) | (1,619 | ) |
Caithness Motocross Club Ltd |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
6. | RELATED PARTY DISCLOSURES |