Charity registration number 1180464
Company registration number 11394491 (England and Wales)
QUEENSBERRY AMATEUR BOXING CLUB LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
QUEENSBERRY AMATEUR BOXING CLUB LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr M Griffiths
Mr P J Plant BA FCA
Mr L Mclaren
Mr E J Plant
Mrs A Griffiths
Charity number
1180464
Company number
11394491
Principal address
The Queensberry Hub
175 Newcastle Road
Trent Vale
Stoke on Trent
Staffordshire
England
ST4 6PZ
Accountants
Plant & Co Limited
17 Lichfield Street
Stone
Staffordshire
ST15 8NA
QUEENSBERRY AMATEUR BOXING CLUB LIMITED
CONTENTS
Page
Trustees' report
1 - 3
Statement of trustees' responsibilities
4
Accountants' report
5
Statement of financial activities
6
Balance sheet
7 - 8
Notes to the financial statements
9 - 18
QUEENSBERRY AMATEUR BOXING CLUB LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 30 June 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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

The charity's objects are to benefit local community of Stoke on Trent and surrounding areas by using the sport of boxing to achieve:

1. The advancement of education

2. The advancement of health

3. The advancement of citizenship and community development

4. The advancement of amateur sport

The policies adopted in furtherance of these objects are;

 

The outcomes benefit the residents of Stoke on Trent and local surrounding areas. All residents are able to participate, irrespective of race, gender, age, ability, political or religious beliefs. Special attention is given to the younger members of the community, where we believe the greatest impact can be achieved in public benefit.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
Volunteers

The Charity temporarily employed one part time member of staff during the year, but is predominantly run by its many volunteers. The trustees express their thanks to all volunteers who have made it possible for the Charity to achieve its objectives.

Achievements and performance
Significant activities and achievements against objectives
Financial review

The trustees are pleased with the financial performance of the charity during the year. The charity generated £37,356 (2023 £52,029) of income during the year and £5,020 (2023 £15,427) of grant income. Funds were again secured to provide boxing sessions to young people and female only classes. Unrestricted funds at the end of the year were £34,434 (2023 £44,893) and restricted funds were £1,507 (2023 £1,811).

 

Reserves policy

It is the aim of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Major risks

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee, incorporated on 4 June 2018 and registered as a charity on 29 October 2018. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

 

The trustees have adopted the Charity Commissions Governance Code.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr M Griffiths
Mr P J Plant BA FCA
Mr L Mclaren
Mr E J Plant
Mrs A Griffiths
Recruitment and appointment of trustees

 

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

 

The directors of the company are also charity trustees for the purposes of charity law.

 

To ensure that the needs of charity and its beneficiaries are fully understood by the directors, the trustees are recruited dependent on their professional expertise and experience of charity governance. To enhance the potential pool of trustees the charity has used its own social media channels and networks.

The trustees are selected on a rigorous basis. In an effort to maintain a broad skill mix, members are requested to provide a list of their skills (CV) and in the event of particular skills being lost due to retirements, individuals are asked to keep this updated.

 

QUEENSBERRY AMATEUR BOXING CLUB LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

 

The company's current policy concerning the payment of trade creditors is to:

 

The Company did not have any trade creditors at the year end.

Organisational structure

The trustees meet bi-monthly and are responsible for the strategic direction and policy of the charity. At present, there are five board members from a variety of professional backgrounds relevant to the work of the charity.

A scheme of delegation is in place which ensures the day to day responsibility for the delivery of the charitable objectives. The trustees are jointly responsible for the implementation of the strategic plan, leading the fundraising efforts and ensuring that key performance indicators are met.

The charity receives significant support from volunteers, who assist with the day-to-day demands of running the service. Volunteers are involved in carrying out core activities at the charity, which, as well as acting as trustees, includes providing coaching and administrative support.

During the year, volunteers contributed coaching and professional services totalling over 4,000 hours, being equal to a value in excess of £100,000.

Induction and training of trustees

Trustees are chosen because they are already familiar with the general work of the charity, having been encouraged to take up initial introductory meetings.

 

Additionally, new trustees are invited to meet with the other trustees to fully familiarise themselves with the charity and the context within which it operates. Such meetings cover;

 

 

Trustees are asked to draw information from the various Charity Commission publications along with the Memorandum and Articles and the latest financial statements.

 

The trustees' report was approved by the Board of Trustees.

Mr P J Plant BA FCA
Trustee
28 March 2025
QUEENSBERRY AMATEUR BOXING CLUB LIMITED
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -

The trustees, who are also the directors of Queensberry Amateur Boxing Club Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF QUEENSBERRY AMATEUR BOXING CLUB LIMITED FOR THE YEAR ENDED 30 JUNE 2024
- 5 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Queensberry Amateur Boxing Club Limited for the year ended 30 June 2024, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 1 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Queensberry Amateur Boxing Club Limited and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Queensberry Amateur Boxing Club Limited and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that Queensberry Amateur Boxing Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Queensberry Amateur Boxing Club Limited. You consider that Queensberry Amateur Boxing Club Limited is exempt from the statutory audit requirement for the year, but is required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of Queensberry Amateur Boxing Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Plant & Co Limited
28 March 2025
Chartered Accountants
17 Lichfield Street
Stone
Staffordshire
ST15 8NA
QUEENSBERRY AMATEUR BOXING CLUB LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income and endowments from:
Donations and legacies
3
-
5,020
5,020
-
15,427
15,427
Charitable activities
4
30,856
-
30,856
52,029
-
52,029
Other income
5
6,500
-
6,500
-
-
-
Total income
37,356
5,020
42,376
52,029
15,427
67,456
Expenditure on:
Charitable activities
6
47,815
5,324
53,139
52,822
66,844
119,666
Total expenditure
47,815
5,324
53,139
52,822
66,844
119,666
Net expenditure and movement in funds
(10,459)
(304)
(10,763)
(793)
(51,417)
(52,210)
Reconciliation of funds:
Fund balances at 1 July 2023
44,893
1,811
46,704
45,686
53,228
98,914
Fund balances at 30 June 2024
34,434
1,507
35,941
44,893
1,811
46,704

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
148,257
155,825
Investments
12
1,000
1,000
149,257
156,825
Current assets
Debtors
13
-
3,613
Cash at bank and in hand
3,762
10,188
3,762
13,801
Creditors: amounts falling due within one year
16
(3,953)
(5,657)
Net current (liabilities)/assets
(191)
8,144
Total assets less current liabilities
149,066
164,969
Creditors: amounts falling due after more than one year
17
(113,125)
(118,265)
Net assets excluding pension liability
35,941
46,704
Net assets
35,941
46,704
The funds of the charity
Restricted income funds
1,507
1,811
Unrestricted funds
34,434
44,893
35,941
46,704

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 8 -
The financial statements were approved by the trustees on 28 March 2025
Mr P J Plant  BA FCA
Trustee
Company registration number 11394491 (England and Wales)
QUEENSBERRY AMATEUR BOXING CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
1
Accounting policies
Charity information

Queensberry Amateur Boxing Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is . The Company carries out its charitable activities from The Queensberry Hub, 175 Newcastle Road, Trent Vale, Stoke on Trent, Staffordshire ST4 6PZ.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
QUEENSBERRY AMATEUR BOXING CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 10 -
1.5
Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

·    expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

·    expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

·    other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
not depreciated
Motor vehicles
25% reducing balance

Freehold property is not depreciated as the residual value of the property is deemed to be at least equal the cost as stated in the financial statements.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 11 -
1.10
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 12 -
2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

No such estimates or judgements were required during the year.

3
Donations and legacies
Restricted
Restricted
funds
funds
2024
2023
£
£
Grants and donations received
5,020
15,427
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Fundraising through boxing activities

28,133
19,060

Contribution from subsidiary undertaking

2,723
18,778

Donations relating to the facility use of The Queensberry Hub

-
14,191
30,856
52,029
5
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Net gain on disposal of tangible fixed assets
6,500
-
QUEENSBERRY AMATEUR BOXING CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 13 -
6
Charitable activities

Direct costs

Direct costs

2024
2023
£
£
Staff costs
-
2,185
Depreciation and impairment
1,568
6,135

Training and qualification

695
1,130

Insurance

5,226
4,235

Repairs and renewals

3,468
3,746

Transport and travel

4,850
3,796

Stationery

458
343

Rates and water

4,438
4,167

Heat and light

15,035
14,008
Hire purchase interest
832
1,663

Mortgage interest

7,260
7,329
Sundry expenses
3,985
1,405

Hire of equipment

-
2,680

Spend of grants received

5,324
66,844
53,139
119,666
53,139
119,666
Analysis by fund
Unrestricted funds
47,815
52,822
Restricted funds
5,324
66,844
53,139
119,666
7
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
1,568
6,135
Profit on disposal of tangible fixed assets
(6,500)
-
8
Trustees

Save for the amounts below, none of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

During the year one of the trustees received £1,390 and another received £490 to deliver grant funded coaching to female only boxers.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 14 -
9
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
-
0
1
Employment costs
2024
2023
£
£
Wages and salaries
-
2,185
There were no employees whose annual remuneration was more than £60,000.

 

10
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11
Tangible fixed assets
Freehold land and buildings
Motor vehicles
Total
£
£
£
Cost
At 1 July 2023
143,555
24,540
168,095
Disposals
-
(12,000)
(12,000)
At 30 June 2024
143,555
12,540
156,095
Depreciation and impairment
At 1 July 2023
-
12,270
12,270
Depreciation charged in the year
-
1,568
1,568
Eliminated in respect of disposals
-
(6,000)
(6,000)
At 30 June 2024
-
7,838
7,838
Carrying amount
At 30 June 2024
143,555
4,702
148,257
At 30 June 2023
143,555
12,270
155,825

The freehold property is stated at cost.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 15 -
12
Fixed asset investments
Other investments
£
Cost or valuation
At 1 July 2023 & 30 June 2024
1,000
Carrying amount
At 30 June 2024
1,000
At 30 June 2023
1,000
2024
2023
Other investments comprise:
Notes
£
£
Investments in subsidiaries
21
1,000
1,000
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
(1)
-
Amounts owed by subsidiary undertakings
1
3,613
-
3,613
14
Loans and overdrafts
2024
2023
£
£
Bank loans
116,204
121,205
Payable within one year
3,079
3,079
Payable after one year
113,125
118,126

The long-term loans are secured by charges over the freehold property 175, Newcastle Road, Trent Vale, Stoke on Trent Staffordshire ST4 6PZ.

The bank loan is secured by a first charge in favour of The Charity Bank Limited of Fosse House, 182 High Street, Tonbridge, Kent TN9 1BE and covers fixed and floating charges over all property or undertaking of the charity.

QUEENSBERRY AMATEUR BOXING CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 16 -
15
Finance lease obligations
Future minimum lease payments due under finance leases:
2024
2023
£
£
Within one year
-
2,578
Within two and five years
-
139
-
2,717

 

16
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
14
3,079
3,079
Obligations under finance leases
15
209
2,578
Amounts owed to subsidiary undertakings
665
-
3,953
5,657
17
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
14
113,125
118,126
Obligations under finance leases
15
-
139
113,125
118,265
18
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2023
Incoming resources
Resources expended
At 30 June 2024
£
£
£
£
General funds
44,893
37,356
(47,815)
34,434
QUEENSBERRY AMATEUR BOXING CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
18
Unrestricted funds
(Continued)
- 17 -
Previous year:
At 1 July 2022
Incoming resources
Resources expended
At 30 June 2023
£
£
£
£
General funds
45,686
52,029
(52,822)
44,893
19
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 30 June 2024:
Tangible assets
148,257
-
148,257
Investments
1,000
-
1,000
Current assets/(liabilities)
(1,698)
1,507
(191)
Long term liabilities
(113,125)
-
(113,125)
34,434
1,507
35,941
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 30 June 2023:
Tangible assets
155,825
-
155,825
Investments
1,000
-
1,000
Current assets/(liabilities)
6,333
1,811
8,144
Long term liabilities
(118,265)
-
(118,265)
44,893
1,811
46,704
20
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

21
Subsidiaries

Details of the charity's subsidiaries at 30 June 2024 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Jubilee Social Enterprises Limited
UK
Provision of social facilities
Ordinary Shares
100.00
QUEENSBERRY AMATEUR BOXING CLUB LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
21
Subsidiaries
(Continued)
- 18 -

The investments in subsidiaries are stated at cost.

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