Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 7 | ||||||
Current assets | |||||||
Cash at bank and in hand | - | ||||||
- | |||||||
Creditors: amounts falling due within one year | 8 | ( |
( |
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Net current liabilities | ( |
( |
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Total assets less current liabilities | |||||||
Net assets | |||||||
Charity funds | |||||||
Unrestricted funds | 9 | ||||||
Total funds | |||||||
D Kyte | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
London Maccabi Recreational Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise sttaed in the relevant accounting policy. |
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Expenditure | ||||||||
Expenditure is recognised once there is a legal and 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. Support costs are those costs incurred directly in support of expenditure on the objects of the company and included project management carried in Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements. |
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Tangible fixed assets | ||||||||
Freehold buildings | 5% to 10% straight line | |||||||
Fixtures and fittings | 20% reducing balance | |||||||
Freehold land | not provided | |||||||
Included in land and buildings is matting used for the all weather pitch. This is being depreciated at 10% straight line, as its useful economic life is 10 years. | ||||||||
Creditors | ||||||||
Fund accounting | ||||||||
General funds are unrestricted funds which are available for use at the discretion of the Trustees in the furtherance of the general objectives of the company and which have not been designated for other purposes. | ||||||||
Going concern | ||||||||
At the balance sheet date, the company's current liabilities exceeded its current assets by £45,898. Included within current liabilities is a loan of £44,563 owed to Maccabi London Brady Recreational Trust ('MLBRT') (see note 11). The company is therefore dependent on the ongoing support of MLBRT. The directors are confident that this support will continue, and that MLBRT will not require the loan to be repaid for at least a year after the date these financial statements are approved. They have therefore prepared the financial statements on the going concern basis. | ||||||||
2 | Analysis of expenditure by activities | |||||||
Activities | ||||||||
undertaken | Support | |||||||
directly | costs | Total | Total | |||||
2024 | 2024 | 2024 | 2023 | |||||
£ | £ | £ | £ | |||||
Charitable activities | 21,486 | 1,338 | 22,824 | 22,913 | ||||
3 | Direct cost | |||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Depreciation | 21,486 | 21,581 | ||||||
21,486 | 21,581 | |||||||
4 | Support cost | |||||||
Total | Total | |||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Accounting fees | 1,338 | 1,332 | ||||||
1,338 | 1,332 | |||||||
5 | Net income/ (expenditure) | |||||||
This is stated after charging: | 2024 | 2023 | ||||||
£ | £ | |||||||
Depreciation of tangible fixed assets: | 21,486 | 21,581 | ||||||
During the year, no trustees received any remuneration (2023: £Nil). | ||||||||
During the year, no trustees received any benefits in kind (2023: £Nil). | ||||||||
During the year, no trustees received any reimbursment of expenses (2023: £Nil). | ||||||||
6 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
7 | Tangible fixed assets | |||||||
Land and buildings | Plant and machinery etc | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 July 2023 | ||||||||
At 30 June 2024 | ||||||||
Depreciation | ||||||||
At 1 July 2023 | ||||||||
Charge for the year | ||||||||
At 30 June 2024 | ||||||||
Net book value | ||||||||
At 30 June 2024 | ||||||||
At 30 June 2023 | ||||||||
Included in land and buildings is freehold land at cost of £557,495 (2023: £557,495) which is not depreciated. | ||||||||
8 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Other creditors | ||||||||
9 | Statement of funds | |||||||
Balance at | Balance at | |||||||
30 June | 30 June | |||||||
2023 | Income | Expenditure | 2024 | |||||
£ | £ | £ | £ | |||||
Unrestricted funds: | ||||||||
General funds | 642,932 | 128 | 22,824 | 620,236 | ||||
10 | Analysis of net assets between funds | |||||||
Unrestricted | ||||||||
funds | ||||||||
2024 | ||||||||
£ | ||||||||
Tangible fixed assets | 666,134 | |||||||
Creditors due within one year | (45,898) | |||||||
620,236 | ||||||||
11 | Related party transactions | |||||||
During the year MLBRT paid £1,275 (2023: £1,212) and received £1,730 (2023: £nil) on behalf of the Trust. Included within other creditors is a loan of £44,563 (2023: £45,018) from MLBRT. This balance is unsecured and interest free, with no fixed repayment terms. |
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12 | Controlling party | |||||||
13 | Other information | |||||||
The company is a registered charity and is not liable to corporation tax on income or gains derived from its charitable activities. | ||||||||
London Maccabi Recreational Trust is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. | ||||||||
Its registered office is: | ||||||||
Rowley Lane Sports Ground | ||||||||
Rowley Lane | ||||||||
Arkley | ||||||||
Hertfordshire | ||||||||
EN5 3HW |