| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| ASFORDBY FOOTBALL CLUB LIMITED |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| ASFORDBY FOOTBALL CLUB LIMITED |
| ASFORDBY FOOTBALL CLUB LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 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 | 12 |
| ASFORDBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 08389317) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 30 JUNE 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 year ended 30 June 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 |
| The object of the charity is to advance in life and relieve needs of young people up to the age of 18 resident in Asfordby, Leicestershire and the surrounding area through the provision of facilities for the purpose of playing football provided in the interest of social welfare designed to improve their conditions of life. To provide support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. |
| Public benefit |
| When reviewing the charities objectives and aims, and in planning future activities, the trustees have considered the Charity Commission's general guidance on public benefit. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| The accounting period ending 30th June 2024 saw increased activity following the success of the first team, who in 2023 were promoted to step 6, the first rung of the non-league ladder after winning the Leicestershire Senior League Premier Division. The trustees voted on and decided to apply for promotion to access funding to develop the site and facilities at Hoby Road. The club upgraded its dugouts, added a standing shelter and a perimeter fence for the first team pitch and training area. The refurbishment of the 3G pitch was undertaken, supported by funding from the Football Foundation. |
| The club fielded 21 teams across all grassroots age groups, with over 340 players aged from 6 to adult. Our football academy continues to accept players from 4 years old and we have had great success in feeding these players into our junior teams. We believe that we are close to maximizing the number of teams we can host, however we remain in discussions with the FA to see if there is a way of opening other time slots and match days for league games. |
| Football Foundation again enabled us to continue a rolling pitch improvement programme, overseen by Football Association experts. This will extend in the next financial period to include improved training facilities. |
| In this period the possibility has been explored to develop the property at Hoby Road to be a more inclusive space that is fit for long term, making use of environmentally sound technologies to reduce costs and our carbon footprint. In the next period we will start to see more related costs to this.. |
| FINANCIAL REVIEW |
| Reserves policy |
| The trustees have generated enough income to keep the charity solvent and continue to invest in the upkeep in the facilities. |
| As at 30 June 2024 net reserves were £48,502 which the trustees consider to be satisfactory. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its memorandum and articles and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| In the event of the company being wound up members are required to contribute an amount not exceeding £1. |
| Recruitment and appointment of new trustees |
| The directors of the company are also charity trustees for the purposes of charity law. They are appointed in accordance to Article 22 from Articles of Association document. |
| All trustees give their time voluntarily and receive no benefits from the charity, with the exception of one trustee who receives a salary. |
| Risk management |
| The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
| ASFORDBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 08389317) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Independent Examiner |
| Niall A. Kingsley FCA |
| Duncan & Toplis Limited |
| 26 Park Road |
| Melton Mowbray |
| Leicestershire |
| LE13 1TT |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| ASFORDBY FOOTBALL CLUB LIMITED |
| Independent examiner's report to the trustees of Asfordby Football Club Limited ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 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. |
| Niall A. Kingsley FCA |
| Duncan & Toplis Limited |
| 26 Park Road |
| Melton Mowbray |
| Leicestershire |
| LE13 1TT |
| 23 May 2025 |
| ASFORDBY FOOTBALL CLUB LIMITED |
| STATEMENT OF FINANCIAL ACTIVITIES |
| (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 2024 | 2023 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Charitable activities |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| ( |
) |
| ( |
) |
| Total | ( |
) |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 66,909 |
| CONTINUING OPERATIONS |
| All income and expenditure has arisen from continuing activities. |
| ASFORDBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 08389317) |
| STATEMENT OF FINANCIAL POSITION |
| 30 JUNE 2024 |
| 2024 | 2023 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 |
| CURRENT ASSETS |
| Stocks | 9 |
| Debtors | 10 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 11 | ( |
) | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 12 | ( |
) | ( |
) | ( |
) |
| NET ASSETS |
| FUNDS | 14 |
| Unrestricted funds | 66,909 |
| Restricted funds | - |
| TOTAL FUNDS | 66,909 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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. |
| ASFORDBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 08389317) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 JUNE 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 |
| ASFORDBY FOOTBALL CLUB LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 1. | GENERAL INFORMATION |
| Asfordby Football Club Limited is a private Charitable Company Limited by Guarantee registered in England and Wales. The charity's registered number, company registration number and registered office address are detailed in the administrative information on Page 2. |
| The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. |
| The financial statements cover the individual entity. |
| 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. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| Going concern |
| The Trustees consider that use of the going concern assumption is appropriate. |
| Financial reporting standard 102 - reduced disclosure exemptions |
| The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
| • | the requirements of Section 7 Statement of Cash Flows. |
| Debtors and creditors |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. |
| 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. |
| Income from government and other grants is recognised at fair value when the charity has entitlement after any performance conditions are met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. |
| 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. |
| Improvements to property | - |
| Plant and machinery | - |
| Inventories |
| Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items. |
| ASFORDBY FOOTBALL CLUB LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Government grants |
| Government grants relating to revenue are recognised as income on a systematic basis over the period in which the related costs for which the grant is intended to compensate are recognised. |
| Government grants receivable for the purpose of giving immediate financial support to the entity with no future related costs are recognised as income in the period in which it becomes receivable. |
| 3. | INVESTMENT INCOME |
| 2024 | 2023 |
| £ | £ |
| Interest receivable | - | 12 |
| 4. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2024 | 2023 |
| £ | £ |
| Depreciation - owned assets |
| Surplus on disposal of fixed assets | ( |
) |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| 2024 | 2023 |
| £ | £ |
| Trustees' salaries |
| Mrs J L Hill £8,478 and Ms S L Wilson £500 were paid for providing services in the Clubhouse. |
| These were paid in accordance with the Articles of Association and conditions in section 6.2. and section 185 of the charities act 2011. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
| ASFORDBY FOOTBALL CLUB LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 6. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 2024 | 2023 |
| Directors | 5 | 8 |
| Employees | 4 | 4 |
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | fund | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Charitable activities |
| Investment income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Total |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 65,030 | - |
| TOTAL FUNDS CARRIED FORWARD | 66,909 | - | 66,909 |
| ASFORDBY FOOTBALL CLUB LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 8. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2024 |
| DEPRECIATION |
| At 1 July 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| 9. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Stocks |
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Debtors |
| Prepayments |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts (see note 13) |
| Creditors |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| Deferred government grants |
| ASFORDBY FOOTBALL CLUB LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans (see note 13) |
| 13. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year on demand: |
| Bank loans |
| Amounts falling between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| 14. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.7.23 | in funds | 30.6.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 66,909 | (22,083 | ) | 44,826 |
| Restricted funds |
| Football club | - | 3,676 | 3,676 |
| TOTAL FUNDS | (18,407 | ) | 48,502 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 210,271 | (232,354 | ) | (22,083 | ) |
| Restricted funds |
| Football club | 2,297 | 1,379 | 3,676 |
| TOTAL FUNDS | ( |
) | (18,407 | ) |
| ASFORDBY FOOTBALL CLUB LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 14. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.7.22 | in funds | 30.6.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 65,030 | 1,879 | 66,909 |
| TOTAL FUNDS | 65,030 | 1,879 | 66,909 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 210,990 | (209,111 | ) | 1,879 |
| Restricted funds |
| Football club | 38,452 | (38,452 | ) | - |
| TOTAL FUNDS | 249,442 | (247,563 | ) | 1,879 |
| Restricted funds |
| The incoming grants for the football club consist of pitch improvement grants from the Football Foundation as well as a pitch machinery grant. |
| Pitch improvement grants support clubs and leagues to provide better quality grass pitches. Clubs and leagues can apply to secure a grant to purchase materials and engage professional contractors over a six-year period, increasing the levels of maintenance work carried out on their grass pitches, with an aim of improving the quality to a 'Good' standard or above. |
| Pitch machinery grants enable clubs and organisations to purchase machinery and equipment recommended in their Pitch Power assessment report. Machinery and equipment may be new or used and all applicants will be required to supply two like-for-like quotations for each item from different suppliers and evidence of partnership funding (grants will be provided for a maximum of 75% of the project cost). |
| Ground maintenance grants were also received to upgrade facilities these were received for a maximum 50% of the project costs but capped to a maximum of £25,000. |
| 15. | RELATED PARTY DISCLOSURES |