Caseware UK (AP4) 2024.0.164 2024.0.164 Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-307171062408813571496909660863988017269096717104055384165282024-09-302023-10-01falseNo description of principal activity00 03151414 2023-10-01 2024-09-30 03151414 2022-10-01 2023-09-30 03151414 2024-09-30 03151414 2023-09-30 03151414 2023-10-01 03151414 2022-10-01 03151414 c:CompanySecretary1 2023-10-01 2024-09-30 03151414 c:RegisteredOffice 2023-10-01 2024-09-30 03151414 d:Buildings 2023-10-01 2024-09-30 03151414 d:Buildings 2024-09-30 03151414 d:Buildings 2023-09-30 03151414 d:PlantMachinery 2023-10-01 2024-09-30 03151414 d:PlantMachinery 2024-09-30 03151414 d:PlantMachinery 2023-09-30 03151414 d:CurrentFinancialInstruments 2024-09-30 03151414 d:CurrentFinancialInstruments 2023-09-30 03151414 c:FRS102 2023-10-01 2024-09-30 03151414 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 03151414 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03151414 b:Trustee1 2023-10-01 2024-09-30 03151414 b:Trustee2 2023-10-01 2024-09-30 03151414 b:Trustee3 2023-10-01 2024-09-30 03151414 b:Trustee4 2023-10-01 2024-09-30 03151414 b:Trustee5 2023-10-01 2024-09-30 03151414 b:Trustee6 2023-10-01 2024-09-30 03151414 b:Trustee7 2023-10-01 2024-09-30 03151414 b:UnrestrictedFundsGeneral 2023-10-01 2024-09-30 03151414 b:RestrictedIncomeFunds 2023-10-01 2024-09-30 03151414 b:TotalEndowmentFunds 2023-10-01 2024-09-30 03151414 b:UnrestrictedFundsGeneral 2024-09-30 03151414 b:UnrestrictedFundsGeneral 2023-09-30 03151414 b:RestrictedIncomeFunds 2024-09-30 03151414 b:RestrictedIncomeFunds 2023-09-30 03151414 b:TotalEndowmentFunds 2024-09-30 03151414 b:TotalEndowmentFunds 2023-09-30 03151414 b:Activity1 2023-10-01 2024-09-30 03151414 b:Activity1 2022-10-01 2023-09-30 03151414 b:Activity1 b:TotalRestrictedIncomeFunds 2023-10-01 2024-09-30 03151414 b:Activity1 b:TotalRestrictedIncomeFunds 2022-10-01 2023-09-30 03151414 b:Activity1 b:TotalEndowmentFunds 2023-10-01 2024-09-30 03151414 b:Activity1 b:TotalEndowmentFunds 2022-10-01 2023-09-30 03151414 b:Activity5 2023-10-01 2024-09-30 03151414 b:Activity5 2022-10-01 2023-09-30 03151414 b:Activity5 b:TotalRestrictedIncomeFunds 2023-10-01 2024-09-30 03151414 b:Activity5 b:TotalRestrictedIncomeFunds 2022-10-01 2023-09-30 03151414 b:Activity5 b:TotalEndowmentFunds 2023-10-01 2024-09-30 03151414 b:Activity5 b:TotalEndowmentFunds 2022-10-01 2023-09-30 03151414 b:TotalRestrictedIncomeFunds 2023-10-01 2024-09-30 03151414 b:TotalRestrictedIncomeFunds 2022-10-01 2023-09-30 03151414 b:TotalEndowmentFunds 2022-10-01 2023-09-30 03151414 b:TotalUnrestrictedFunds 2024-09-30 03151414 b:TotalUnrestrictedFunds 2023-09-30 03151414 b:TotalRestrictedIncomeFunds 2024-09-30 03151414 b:TotalRestrictedIncomeFunds 2023-09-30 03151414 c:FullAccounts 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
Registered number:03151414
Charity number: 1056908







 
 
 
 
 
FAKENHAM SPORTS CHARITY LIMITED
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
FAKENHAM SPORTS CHARITY LIMITED
 
(A company limited by guarantee)
 

CONTENTS



Page
Reference and administrative details of the Charity, its Trustees and advisers
 
 
1
Trustees' report
 
 
2 - 4
Statement of financial activities
 
 
5
Balance sheet
 
 
6 - 7
Notes to the financial statements
 
 
8 - 17

 
FAKENHAM SPORTS CHARITY LIMITED
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2024



Trustees
I C MacBrayne (Resigned 6 August 2024)
S Harvey
C Harrison
M Turner, Chair
M Law
N Jarvis
D Colman

Company registered number
03151414

Charity registered number
1056908

Registered office
Summerhill House
1 Sculthorpe Road
Fakenham
Norfolk
NR21 9HA

Company secretary
M Turner

Accountant
Larking Gowen LLP

Page 1

 
FAKENHAM SPORTS CHARITY LIMITED
 
(A company limited by guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The Trustees present their annual report together with the financial statements of the Charity for the 1 October 2023 to 30 September 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
 

Objectives and activities
 

a. Policies and objectives
 

The charity's objectives are to promote the benefit of the inhabitants of Fakenham and the surrounding area by providing sports grounds and other facilities. The facilities are to be used for recreation, leisure time occupation and advance the education of the said inhabitants in the subjects of physical fitness, sports and training. 
 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
 

Achievements and performance
 

a. Review of activities
 

The charity owns the grounds and facilities which are used by the Fakenham Cricket Club and Fakenham Football Club. The Charity is in regular contact with both clubs as well as Fakenham Bowls Club, all clubs provide sports facilities for all age groups and are thriving at all levels.
 

Page 2

 
FAKENHAM SPORTS CHARITY LIMITED
 
(A company limited by guarantee)
 
Financial review
 

a. Going concern
 

At the point of approving the financial statements, HM Revenue & Customs (HMRC) are reviewing the charity’s VAT status. Their initial conclusion is that the charity was not entitled to reclaim VAT of approximately £21,000 over the past four years.  The Trustees do not agree with this interpretation of VAT legislation and are challenging HMRC’s conclusion. HMRC’s response to the challenge is awaited. Were the challenge unsuccessful, the charity would not have the liquid funds available to repay the full £21,000, and would need to work with the member football, cricket and bowls clubs to repay the VAT and/or negotiate a repayment plan with HMRC.The £21,000 is not provided for as  liability in these financial statements. 
Having considered the charity’s VAT position, and the options to meet the VAT liability should it arise, the trustees have concluded that they have a reasonable expectation that the charity can meet its liabilities and continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing these financial statements. However, there is no guarantee the outcome of the VAT matter will be favourable, or that the member clubs will fund the liability and that HMRC would agree to a repayment plan. These factors present a material uncertainty that may cast significant doubt on the charity’s ability to continue as a going concern. 
 

b. Reserves policy
 

There is a balance of £34,548 (2023 £35,855) carried forward on the restricted funds and £202,437 (2023 £208,968) as endowment funds.      
For the unrestricted funds the balance at the year end is £203,101 (2023 £207,560), of which £263 are free reserves (2023 £705). Free reserves are maintained at a level sufficient to smooth out fluctuations in cash flow and to meet emergencies. 
 

Structure, governance and management
 

a. Constitution
 

The Charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 26 January 1996 and is a registered charity number 03151414.
 

b. Methods of appointment or election of Trustees
 

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
 

c. Policies adopted for the induction and training of Trustees
 

There is no formal policy in place for the induction and training of Trustees.
 

Page 3

 
FAKENHAM SPORTS CHARITY LIMITED
 
(A company limited by guarantee)
 
Statement of Trustees' responsibilities
 

The Trustees (who are also the directors of the Charity for the purposes 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.


The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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.


 

Approved by order of the members of the board of Trustees and signed on their behalf by:



................................................
M Turner
Trustee
Date: 26 June 2025
Page 4

 
FAKENHAM SPORTS CHARITY LIMITED
 
(A company limited by guarantee)

 
 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Endowment funds
2024
Restricted funds
2024
Unrestricted funds
2024
Total
funds
2024
Total
funds
2023
Note
        £
        £
        £
        £
        £

Income and endowments from:








Charitable activities

3

-

18,494

1,100

19,594

15,281
 
Other income

4

-

-

525

525

-
 
Total income and endowments
-
18,494
1,625
20,119
15,281
Expenditure on:








Charitable activities

5

6,531

19,801

6,084

32,416

26,773
 
Total expenditure
6,531
19,801
6,084
32,416
26,773

Net movement in funds
  
(6,531)
(1,307)
(4,459)
(12,297)
(11,492)

Reconciliation of funds:

  






Total funds brought forward

  

208,968

35,855

207,560

452,383

463,875
 
Net movement in funds

  

(6,531)

(1,307)

(4,459)

(12,297)

(11,492)
 
Total funds carried forward
  
202,437
34,548
203,101
440,086
452,383

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 8 to 17 form part of these financial statements.

Page 5

 
FAKENHAM SPORTS CHARITY LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 03151414

 
 
BALANCE SHEET
AS AT 30 SEPTEMBER 2024


2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 10 
439,823
451,678

  
439,823
451,678

Current assets
  

Debtors
 11 
1,006
1,561

Cash at bank and in hand
  
5,588
1,125

  
6,594
2,686

Creditors: amounts falling due within one year
 12 
(6,331)
(1,981)

Net current assets 
  
 
 
263
 
 
705

Total assets less current liabilities
  
440,086
452,383

Total net assets 
  
440,086
452,383


Charity funds
  

Endowment funds
 13 
202,437
208,968

Restricted funds
 13 
34,548
35,855

Unrestricted funds
 13 
203,101
207,560

Total funds
  
440,086
452,383

Page 6

 
FAKENHAM SPORTS CHARITY LIMITED
 
(A company limited by guarantee)

 
 
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:




................................................
M Turner
(Chair of Trustees)
Date:26 June 2025

The notes on pages 8 to 17 form part of these financial statements.

Page 7

 
FAKENHAM SPORTS CHARITY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Fakenham Sports Charity Limited is a charitable company limited by guarantee and incorporated in England and Wales, registration 03151414. The registered office is Summerhill House, 1 Sculthorpe Road, Fakenham, Norfolk, NR21 9HA. 
The financial statements are presented in sterling which is the functional currency of the charitable company rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 


2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Fakenham Sports Charity Limited 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.

  
2.2

Going concern

At the point of approving the financial statements, HM Revenue & Customs (HMRC) are reviewing the charity’s VAT status. Their initial conclusion is that the charity was not entitled to reclaim VAT of approximately £21,000 over the past four years.  The Trustees do not agree with this interpretation of VAT legislation and are challenging HMRC’s conclusion. HMRC’s response to the challenge is awaited. Were the challenge unsuccessful, the charity would not have the liquid funds available to repay the full £21,000, and would need to work with the member football, cricket and bowls clubs to repay the VAT and/or negotiate a repayment plan with HMRC. The £21,000 is not provided for as  liability in these financial statements. 
Having considered the charity’s VAT position, and the options to meet the VAT liability should it arise, the trustees have concluded that they have a reasonable expectation that the charity can meet its liabilities and continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing these financial statements. However, there is no guarantee the outcome of the VAT matter will be favourable, or that the member clubs will fund the liability and that HMRC would agree to a repayment plan. These factors present a material uncertainty that may cast significant doubt on the charity’s ability to continue as a going concern. 

  
2.3

Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Page 8

 
FAKENHAM SPORTS CHARITY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

  
2.4

Company status

The Charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

  
2.5

Expenditure

Expenditure is recognised once there is a legal or 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. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

  
2.6

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.

 
2.7

Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

Freehold property
-
50 years straight line
Plant and machinery
-
15% reducing balance

  
2.8

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered.  Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 9

 
FAKENHAM SPORTS CHARITY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

  
2.9

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


2.10

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

  
2.11

Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

  
2.12

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity 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 Charity for particular purposes. The costs of raising 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.

Endowment funds comprise the Fakenham Sports facilities held by the charity. 

Page 10

 
FAKENHAM SPORTS CHARITY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.

Income from charitable activities




Restricted funds
2024
Unrestricted funds
2024
Total
funds
2024
        £
        £
        £




Grants received

18,494

-

18,494

Rental income

-

1,100

1,100

Total 2024


18,494
1,100
19,594




Restricted funds
2023
Unrestricted funds
2023
Total
funds
2023
        £
        £
        £




Grants received

14,331

-

14,331

Rental income

-

950

950

Total 2023


14,331
950
15,281


4.

Other incoming resources




Unrestricted funds
2024
Total
funds
2024
Total
funds
2023
        £
        £
        £




Wayleaves

375

375

-
 
Barclays reparation

150

150

-
 


525
525
-

Page 11

 
FAKENHAM SPORTS CHARITY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.

Analysis of expenditure on charitable activities


Summary by fund type





Endowment funds
2024
Restricted funds
2024
Unrestricted funds
2024
Total
2024
        £
        £
        £
        £





Governance costs

-

-

2,066

2,066

Depreciation

6,531

6,094

4,018

16,643

Repairs and maintenance

-

13,707

-

13,707



6,531
19,801
6,084
32,416





Endowment funds
2023
Restricted funds
2023
Unrestricted funds
2023
Total
2023
        £
        £
        £
        £





Governance costs

-

-

2,697

2,697

Depreciation

6,531

6,329

4,041

16,901

Repairs and maintenance

-

7,175

-

7,175



6,531
13,504
6,738
26,773


6.


Staff costs

The Charity has no employees other than the Trustees, who did not receive any remuneration (2023 - £NIL).

Page 12

 
FAKENHAM SPORTS CHARITY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.

Governance costs



Unrestricted funds
2024
Total
funds
2024
        £
        £


-

-

Accountancy fees

1,900

1,900

Companies House charges

34

34

Subscriptions

132

132

Total 2024


2,066
2,066



Unrestricted funds
2023
Total
funds
2023
        £
        £


Sundry expenses

692

692

Accountancy fees

1,680

1,680

Companies House charges

13

13

Subscriptions

312

312

Total 2023


2,697
2,697


8.


Net income/(expenditure)

This is stated after charging:


2024
2023
£
£



Depreciation of tangible fixed assets: owned by the charity
16,643
16,901

Independent examination fee
1,450
1,225


9.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 30 September 2024, no Trustee expenses have been incurred (2023 - £NIL).

Page 13

 
FAKENHAM SPORTS CHARITY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Tangible fixed assets




Freehold property
Plant and machinery
Total

£
£
£


Cost or valuation

At 1 October 2023
617,314
195,460
812,774

Additions
-
4,788
4,788


At 30 September 2024

617,314
200,248
817,562


Depreciation

At 1 October 2023
202,453
158,643
361,096

Charge for the year
10,402
6,241
16,643


At 30 September 2024

212,855
164,884
377,739


Net book value


At 30 September 2024
404,459
35,364
439,823


At 30 September 2023
414,861
36,817
451,678


11.



Debtors


2024
2023
£
£


Due within one year

Other debtors
1,006
1,561

1,006
1,561


12.



Creditors: Amounts falling due within one year


2024
2023
£
£


Trade creditors
6,331
1,981

Page 14

 
FAKENHAM SPORTS CHARITY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.

Statement of funds


Statement of funds - current year

Balance at 1 October 2023
£
Income
£
Expenditure
£
Balance at 30 September 2024
£

Unrestricted funds





General Funds - all funds

207,560

1,625

(6,084)

203,101
 

Endowment funds






Endowment Funds - all funds

208,968

-

(6,531)

202,437
 

Restricted funds






Cricket Club

15,549

18,494

(16,756)

17,287
 
Bowls Club

954

-

(142)

812
 
Football Club

19,352

-

(2,903)

16,449
 



35,855
18,494
(19,801)
34,548

Total of funds


452,383
20,119
(32,416)
440,086

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity 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. The restricted fund balances carried represent the net book value of fixed assets acquired from restricted donations.
Endowment funds comprise of the net book value of the Fakenham Sports facilities held by the Charity.

Page 15

 
FAKENHAM SPORTS CHARITY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.

Statement of funds (continued)



Statement of funds - prior year

Balance at
1 October 2022
£
Income
£
Expenditure
£
Balance at
30 September 2023
£

Unrestricted funds





General Funds - all funds

213,348

950

(6,738)

207,560
 

Endowment funds






Endowment Funds - all funds

215,499

-

(6,531)

208,968
 

Restricted funds






Football Club

22,768

145

(3,561)

19,352
 
Cricket Club

11,137

13,893

(9,481)

15,549
 
Bowls Club

1,123

293

(462)

954
 



35,028
14,331
(13,504)
35,855


Total of funds


463,875
15,281
(26,773)
452,383


14.

Analysis of net assets between funds

Analysis of net assets between funds - current period

Endowment funds
2024
Restricted funds
2024
Unrestricted funds
2024
Total
funds
2024
        £
        £
        £
        £




Tangible fixed assets

202,437

34,548

202,838

439,823

Current assets

-

-

6,594

6,594

Creditors due within one year

-

-

(6,331)

(6,331)

Total 


202,437
34,548
203,101
440,086


Page 16

 
FAKENHAM SPORTS CHARITY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

14.Analysis of net assets between funds (continued)


Analysis of net assets between funds - prior period

Endowment funds
2023
Restricted funds
2023
Unrestricted funds
2023
Total
funds
2023
        £
        £
        £
        £




Tangible fixed assets

208,968

35,855

206,855

451,678

Current assets

-

-

2,686

2,686

Creditors due within one year

-

-

(1,981)

(1,981)

Total 

208,968
35,855
207,560
452,383



15.


Related party transactions

During the year the charity rented out sports grounds to Fakenham Cricket Club and Fakenham Football Club for a total of £1,100 (2023: £950). Members of the sports club committees are Trustees of the charity. Of this, nil (2023: £900) was outstanding at the year end and is included in debtors. 

Page 17