Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) | |||||||
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 12 | ||||||
Current assets | |||||||
Stocks | 13 | ||||||
Debtors | 14 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 15 | ( |
( |
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Net current assets/(liabilities) | ( |
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Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 17 | ( |
( |
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Net assets | |||||||
Charity funds | |||||||
Unrestricted funds | 18 | ||||||
Total funds | |||||||
A Landesberg | |||||||
Director | |||||||
Approved by the board on |
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Maccabi London Brady Recreational Trust (A Company Limited by Guarantee) | ||||||||||
Notes to the Accounts | ||||||||||
for the year ended |
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1 | Accounting policies | |||||||||
Basis of preparation | ||||||||||
Maccabi London Brady 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 stated in the relevant accounting policy. |
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Income | ||||||||||
Government and other grants for the purpose of giving immediate financial support with no future related costs, including those from the Government job retention scheme, are recognised under the accrual model as income in the period in which it becomes receivable. | ||||||||||
Expenditure | ||||||||||
Expenditure, inclusive of any VAT that cannot be recovered, 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. Expenditure is classified by activity. 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. Costs of raising funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. |
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Tangible fixed assets | ||||||||||
Short-term leasehold property | over the term of the lease, or useful life of 10 years | |||||||||
Fixtures and fittings | 25% reducing balance | |||||||||
Computer equipment | 25% reducing balance | |||||||||
Sports equipment | 25% reducing balance | |||||||||
Construction Work in Progress | no depreciation until brought into use as short-term leasehold property | |||||||||
Stocks | ||||||||||
Debtors | ||||||||||
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. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising funds and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. |
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Pensions | ||||||||||
2 | Income from donations and legacies | 2024 | 2023 | |||||||
£ | £ | |||||||||
Donations | 365,302 | 43,406 | ||||||||
365,302 | 43,406 | |||||||||
3 | Income from charitable activities | 2024 | 2023 | |||||||
£ | £ | |||||||||
Football pitch hire income | 279,440 | 288,335 | ||||||||
Hall and facilities hire income | 64,485 | 59,300 | ||||||||
Catering and bar income | 56,229 | 64,545 | ||||||||
Car park income | 22,400 | 22,400 | ||||||||
422,554 | 434,580 | |||||||||
4 | Investment income | 2024 | 2023 | |||||||
£ | £ | |||||||||
Other investment income | 178 | 317 | ||||||||
178 | 317 | |||||||||
5 | Other trading activities | 2024 | 2023 | |||||||
£ | £ | |||||||||
Fundraising income | 48,069 | 20,531 | ||||||||
6 | Other income | 2024 | 2023 | |||||||
£ | £ | |||||||||
Grant income | 8,400 | - | ||||||||
8,400 | - | |||||||||
7 | Analysis of expenditure by activities | |||||||||
Activities | ||||||||||
undertaken | Support | |||||||||
directly | costs | Total | Total | |||||||
2024 | 2024 | 2024 | 2023 | |||||||
£ | £ | £ | £ | |||||||
Charitable activities | 606,600 | 38,406 | 645,006 | 607,925 | ||||||
8 | Direct cost | 2024 | 2023 | |||||||
£ | £ | |||||||||
Pitch and ground maintenance | 149,887 | 125,486 | ||||||||
Camp and youth program expenditure | 750 | 750 | ||||||||
Bar and catering expenses | 21,326 | 28,653 | ||||||||
Event costs | 24,554 | 12,340 | ||||||||
Car park expenses | 938 | 4,292 | ||||||||
Advertising and recruitment | 5,223 | 3,744 | ||||||||
Premises expenditure | 56,848 | 62,654 | ||||||||
Postage, stationery and printing | 41 | 627 | ||||||||
Telephone and fax | 1,217 | 1,553 | ||||||||
Computer expenses | 8,471 | 8,784 | ||||||||
Insurance | 24,503 | 17,348 | ||||||||
Sundry expenses | 5,194 | 9,088 | ||||||||
Football expenses | 1,366 | 597 | ||||||||
Bad debts | 6,839 | 1,000 | ||||||||
Staff cost | 152,477 | 166,547 | ||||||||
Depreciation | 146,966 | 123,157 | ||||||||
606,600 | 566,620 | |||||||||
9 | Support cost | |||||||||
Governance | Support costs | Total | Total | |||||||
2024 | 2024 | 2024 | 2023 | |||||||
£ | £ | £ | £ | |||||||
Bank charges | - | 2,385 | 2,385 | 2,558 | ||||||
Bank loan interest | - | 8,599 | 8,599 | 8,198 | ||||||
Subscriptions and licences | - | 11,186 | 11,186 | 9,522 | ||||||
Bookkeeping and consultancy | - | 12,387 | 12,387 | 17,394 | ||||||
Independent Examination fee | 3,849 | - | 3,849 | 3,633 | ||||||
3,849 | 34,557 | 38,406 | 41,305 | |||||||
10 | Net income | 2024 | 2023 | |||||||
This is stated after charging: | £ | £ | ||||||||
Depreciation of tangible fixed assets: | 146,966 | 123,157 | ||||||||
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 reimbursement of expenses (2023: £Nil). | ||||||||||
11 | Staff costs | 2024 | 2023 | |||||||
£ | £ | |||||||||
Wages and salaries | 132,647 | 137,916 | ||||||||
Contractors | 11,813 | 16,337 | ||||||||
Social security costs | 5,993 | 8,703 | ||||||||
Other pension costs | 2,024 | 2,383 | ||||||||
Staff training | - | 1,208 | ||||||||
152,477 | 166,547 | |||||||||
Average number of persons employed by the company | ||||||||||
No employee received remuneration amounting to more than £60,000 in either year. | ||||||||||
12 | Tangible fixed assets | |||||||||
Short term leasehold property | Plant and machinery | Sports equipment | Total | |||||||
£ | £ | £ | £ | |||||||
Cost | ||||||||||
At 1 July 2023 | ||||||||||
Additions | - | - | ||||||||
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 | ||||||||||
13 | Stocks | 2024 | 2023 | |||||||
£ | £ | |||||||||
Stocks | 1,942 | 1,777 | ||||||||
14 | Debtors | 2024 | 2023 | |||||||
£ | £ | |||||||||
Trade debtors | ||||||||||
Other taxes and social security costs | ||||||||||
Prepayments and accrued income | 48,348 | 25,020 | ||||||||
15 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||||
£ | £ | |||||||||
Bank loans and overdrafts | ||||||||||
Trade creditors | ||||||||||
Other taxes and social security costs | ||||||||||
Accruals and deferred income | 14,249 | 36,389 | ||||||||
16 | Deferred income | 2024 | 2023 | |||||||
£ | £ | |||||||||
Brought forward | 23,045 | 7,445 | ||||||||
Movement in the year | (15,281) | 15,600 | ||||||||
Carried forward | 7,764 | 23,045 | ||||||||
Deferred income comprises income received in advance from pitch and venue hires and advertising. | ||||||||||
17 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||||
£ | £ | |||||||||
Bank loans | ||||||||||
The bank loan was granted under the coronavirus business interruption loan facility scheme. The loan is guaranteed by the Department for Business, Energy and Industrial Strategy. No capital or interest was payable in the first 12 months of the loan. The net present value of the business interruption payment was recognised in the profit and loss account in the year ended 30 June 2020. | ||||||||||
18 | Statements of funds | |||||||||
Balance at | Balance at | |||||||||
30 June | 30 June | |||||||||
2023 | Income | Expenditure | 2024 | |||||||
£ | £ | £ | £ | |||||||
Unrestricted funds | ||||||||||
General funds | 1,123,790 | 844,503 | 679,972 | 1,288,321 | ||||||
1,123,790 | 844,503 | 679,972 | 1,288,321 | |||||||
19 | Analysis of net assets between funds | |||||||||
Unrestricted | ||||||||||
funds | ||||||||||
2024 | ||||||||||
£ | ||||||||||
Tangible fixed assets | 1,101,417 | |||||||||
Current assets | 342,658 | |||||||||
Creditors due within one year | (116,454) | |||||||||
Creditors due after more than one year | (39,300) | |||||||||
1,288,321 | ||||||||||
20 | Related party transactions | |||||||||
- received total donations from the trustees of £60,000 (2023: £15,600); - paid £1,275 (2023: £1,212) and received £1,730 (2023: £nil) on behalf of London Maccabi Recreational Trust ('the LMRT'); the LMRT has certain trustees in common with the Trust; and - used the LMRT's land and buildings for peppercorn rent. The balance of £44,563 (2023: £45,018) due from the LMRT has been fully provided for. |
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21 | Controlling party | |||||||||
22 | Other information | |||||||||
The company is a registered charity and is not liable to corporation tax on income or gains derived from its charitable activities. | ||||||||||
Maccabi London Brady 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 | ||||||||||
Herts | ||||||||||
EN5 3HW |