REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Period 1 April 2023 to 31 August 2024 |
for |
Croston Sports Club |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Period 1 April 2023 to 31 August 2024 |
for |
Croston Sports Club |
Croston Sports Club |
Contents of the Financial Statements |
for the period 1 April 2023 to 31 August 2024 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 12 |
Croston Sports Club |
Reference and Administrative Details |
for the period 1 April 2023 to 31 August 2024 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | McMillan & Co LLP |
Chartered Accountants |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
Croston Sports Club (Registered number: 14002373) |
Report of the Trustees |
for the period 1 April 2023 to 31 August 2024 |
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 period 1 April 2023 to 31 August 2024. 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 |
To promote for the benefit of the inhabitants of Croston and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstance or for the public at large in the interest of social welfare. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The assets of the unincorporated CASC (Community Amateur Sports Club) were transferred to the new company just after the year end. The aim is to promote Project SPACE in order to enhance the sporting activities available. |
Having secured a 125 year lease on the adjacent land and outline planning permission, the next stage was to ensure that funding was available. We already have the assurance of a substantial and generous donation but further funding is required from other organisations. |
We have employed Steve Wells Associates, who are specialists in sports funding, to handle this for us. They will also take on the roles of planning and project managing the developments. Negotiations with Chorley Borough Council for S106 funding have been very promising. However, the negotiations with the Football Foundation, who are the major sports funding organisation, have been frustratingly delayed as a result of the general election and change of government. |
It is clear that there will be insufficient funds to deliver everything on our wish list and final plans can only be drawn up once we know the level of grant from the Football Foundation. Over the past 3 years since Project SPACE was launched, building costs have risen by over 30%, whilst the SPACE income has stayed at about the same level. This inevitably will necessitate some challenging decisions. |
Further work has been done in developing the business and administrative functions of the club. This has included work with the Land Registry, VAT registration and establishing charitable status. Much of this has been very time consuming but will place the club on a strong business footing. |
Prior to the introduction of new facilities, the development of a business plan is going to be essential in order to ensure that the club as a whole is in a financially secure position. |
Throughout all of the planning, negotiating and consulting, the club has maintained a clear focus on becoming the very best amateur sports club. The 'best' means that we must ensure that local people of all ages, abilities and lifestyles have opportunities to meet and take part in a wide range of sporting and social activities. Diversity and Inclusion must be at the heart of all that we seek to achieve. |
I am indebted to the Trustees, members of the club Management Committee and the Project SPACE team for their continued support, commitment and encouragement, all of which are provided on a voluntary basis. The future success of our club is dependent upon a dedicated team of volunteers. |
FINANCIAL REVIEW |
Financial position |
During the year a further grant of £60,000 has been received. This will cover further enabling costs for Project SPACE and the provision of new cricket practice facilities, to be installed this year. |
Croston Sports Club (Registered number: 14002373) |
Report of the Trustees |
for the period 1 April 2023 to 31 August 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is a charitable company limited by guarantee and not having a share capital and, in accordance with Section 30(2) of the Companies Act 1985, is exempt from the requirement to use the word 'limited' as part of its name. It is governed by a Memorandum and Articles of Association. |
The charity was entered in the Central Register of Charities with effect from 17 August 2022 and an application has been made to HM Revenue & Customs to be a Charity for tax purposes. |
EVENTS SINCE THE END OF THE PERIOD |
Information relating to events since the end of the period is given in the notes to the financial statements. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Croston Sports Club |
Independent examiner's report to the trustees of Croston Sports Club ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the period 1 April 2023 to 31 August 2024. |
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. |
JFD McMillan FCA |
McMillan & Co LLP |
Chartered Accountants |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
11 November 2024 |
Croston Sports Club |
Statement of Financial Activities |
for the period 1 April 2023 to 31 August 2024 |
period | period |
1/4/23 | 25/3/22 |
to | to |
31/8/24 | 31/3/23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 38,262 |
Croston Sports Club (Registered number: 14002373) |
Balance Sheet |
31 August 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 38,262 |
TOTAL FUNDS | 38,262 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2024. |
The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2024 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. |
Croston Sports Club (Registered number: 14002373) |
Balance Sheet - continued |
31 August 2024 |
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 |
Croston Sports Club |
Notes to the Financial Statements |
for the period 1 April 2023 to 31 August 2024 |
1. | GENERAL INFORMATION |
The charity is a registered charity in England and Wales and is unincorporated. The address of the principal office is Croston Sports Club, Westhead Road, Croston, Leyland, PR26 9RR. |
There are no material uncertainties about the charity's ability to continue. |
The presentational currency of the financial statements is the Pound Sterling (£). |
The amounts in the financial statements have been rounded to the nearest £1. |
2. | 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, with the exception of investments which are included at market value. |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
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. |
Investments |
Investments in subsidiary undertakings are recognised at cost. |
Croston Sports Club |
Notes to the Financial Statements - continued |
for the period 1 April 2023 to 31 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest. |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the period ended 31 August 2024 nor for the period ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the period ended 31 August 2024 nor for the period ended 31 March 2023. |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME |
TOTAL FUNDS CARRIED FORWARD | 38,262 |
Croston Sports Club |
Notes to the Financial Statements - continued |
for the period 1 April 2023 to 31 August 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
Additions |
NET BOOK VALUE |
At 31 August 2024 |
At 31 March 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
MARKET VALUE |
At 1 April 2023 and 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 | 1 |
At 31 March 2023 | 1 |
There were no investment assets outside the UK. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amount due from subsidiary |
9. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/4/23 | in funds | 31/8/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 38,262 | 23,731 | 61,993 |
TOTAL FUNDS | 23,731 | 61,993 |
Croston Sports Club |
Notes to the Financial Statements - continued |
for the period 1 April 2023 to 31 August 2024 |
9. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 60,000 | (36,269 | ) | 23,731 |
TOTAL FUNDS | ( |
) | 23,731 |
Comparatives for movement in funds |
Net |
movement | At |
in funds | 31/3/23 |
£ | £ |
Unrestricted funds |
General fund | 38,262 | 38,262 |
TOTAL FUNDS | 38,262 | 38,262 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 50,000 | (11,738 | ) | 38,262 |
TOTAL FUNDS | 50,000 | (11,738 | ) | 38,262 |
10. | RELATED PARTY DISCLOSURES |
11. | POST BALANCE SHEET EVENTS |
The activities and assets of Croston Sports Club (currently a Community Amateur Sports Club) were transferred to the Charitable Company after the year end. |
Croston Sports Club |
Notes to the Financial Statements - continued |
for the period 1 April 2023 to 31 August 2024 |
12. | ULTIMATE CONTROLLING PARTY |
The company has no share capital but is limited by guarantee. The guarantee is limited to £10 per member and extends to twelve months after the date that the member leaves. There is no ultimate controlling party. |