REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 August 2023 |
for |
Rangers Former Players Benevolent Club |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 August 2023 |
for |
Rangers Former Players Benevolent Club |
Rangers Former Players Benevolent Club |
Contents of the Financial Statements |
for the Year Ended 31 August 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Statement of Financial Position | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 10 |
Rangers Former Players Benevolent Club (Registered number: SC306620) |
Report of the Trustees |
for the Year Ended 31 August 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 August 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 charity are: |
- the prevention or relief of poverty |
- the advancement of health |
- the advancement of arts, heritage, culture or science |
- the promotion of religious or racial harmony |
- the relief of those in need by reason of age, ill health, disability, financial hardship or other disability |
Significant activities |
The principal activity of the charity is the raising of funds for the provision of support to individuals. |
ACHIEVEMENT AND PERFORMANCE |
The charity supported several individuals throughout the year. |
FINANCIAL REVIEW |
Principal funding sources |
The principal funding sources of the charity are donations from fans, former players and others. |
Total income for the year, all from donations, was £24,534 (2022 - £76,390). Total expenditure was £31,151 (2022 - £83,373) giving a deficit for the year of £6,617 (2022 - £6,983). The funds of the charity are currently in surplus by £123,228 and these are all held by the unrestricted general purpose fund. |
The reserves of the charity are represented by bank balances. The charity has no requirement for specific reserves. Any surplus is carried forward to be used in future operations. |
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. |
The directors of the company are also charity trustees for the purpose of charity law, and, under the company's articles are known as members of the Management Committee. Regulation 73 of Table A which requires one third of directors to retire at each annual general meeting has been amended and as such, in the event of a default in holding an annual general meeting, the directors who were due to retire from office at such meeting, continue in office until such meeting is held. |
Recruitment and appointment of new trustees |
Members of the Management Committee are elected based on the skills that they offer to ensure that there is a broad skills mix. There is no restriction on the number of members on the Management Committee. There are currently four members who meet regularly and are responsible for the strategic direction and policy of the charity. The Management Committee have a variety of professional backgrounds relevant to the work of the charity. |
Rangers Former Players Benevolent Club (Registered number: SC306620) |
Report of the Trustees |
for the Year Ended 31 August 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Risk management |
The Management Committee has conducted a review of the major business and operational risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of the members of the company. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Douglas Marshall C.A. |
Stevenson & Kyles |
Chartered Accountants |
25 Sandyford Place |
Glasgow |
G3 7NG |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Rangers Former Players Benevolent Club |
I report on the accounts for the year ended 31 August 2023 set out on pages four to ten. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
Douglas Marshall C.A. |
The Institute of Chartered Accountants of Scotland |
Stevenson & Kyles |
Chartered Accountants |
25 Sandyford Place |
Glasgow |
G3 7NG |
18 September 2024 |
Rangers Former Players Benevolent Club |
Statement of Financial Activities |
for the Year Ended 31 August 2023 |
31.8.23 | 31.8.22 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 129,845 |
Rangers Former Players Benevolent Club (Registered number: SC306620) |
Statement of Financial Position |
31 August 2023 |
31.8.23 | 31.8.22 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 3 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 4 |
Unrestricted funds | 129,845 |
TOTAL FUNDS | 129,845 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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. |
Rangers Former Players Benevolent Club (Registered number: SC306620) |
Statement of Financial Position - continued |
31 August 2023 |
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 |
Rangers Former Players Benevolent Club |
Notes to the Financial Statements |
for the Year Ended 31 August 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. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
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. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
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. |
Rangers Former Players Benevolent Club |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
2. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. |
3. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Other creditors and accruals |
4. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.9.22 | in funds | 31.8.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 129,845 | (6,617 | ) | 123,228 |
TOTAL FUNDS | (6,617 | ) | 123,228 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 24,534 | (31,151 | ) | (6,617 | ) |
TOTAL FUNDS | ( |
) | (6,617 | ) |
Rangers Former Players Benevolent Club |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
4. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.9.21 | in funds | 31.8.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 136,828 | (6,983 | ) | 129,845 |
TOTAL FUNDS | 136,828 | (6,983 | ) | 129,845 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 76,390 | (83,373 | ) | (6,983 | ) |
TOTAL FUNDS | 76,390 | (83,373 | ) | (6,983 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.9.21 | in funds | 31.8.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 136,828 | (13,600 | ) | 123,228 |
TOTAL FUNDS | 136,828 | (13,600 | ) | 123,228 |
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 | 100,924 | (114,524 | ) | (13,600 | ) |
TOTAL FUNDS | 100,924 | (114,524 | ) | (13,600 | ) |
Rangers Former Players Benevolent Club |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
5. | RELATED PARTY DISCLOSURES |