REGISTERED COMPANY NUMBER:
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REGISTERED CHARITY NUMBER:
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Report of the Trustees and |
Unaudited Financial Statements for the Year Ended |
31 July 2017 |
for |
Scorchers Basketball Foundation |
REGISTERED COMPANY NUMBER:
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REGISTERED CHARITY NUMBER:
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Report of the Trustees and |
Unaudited Financial Statements for the Year Ended |
31 July 2017 |
for |
Scorchers Basketball Foundation |
Scorchers Basketball Foundation |
Contents of the Financial Statements |
for the Year Ended 31 July 2017 |
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Page |
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Report of the Trustees | 1 to 2 |
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Statement of Financial Activities | 3 |
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Balance Sheet | 4 to 5 |
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Notes to the Financial Statements | 6 to 9 |
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Reconciliation of Income and Expenditure | 10 |
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Reconciliation of Funds | 11 to 12 |
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Scorchers Basketball Foundation |
Report of the Trustees |
for the Year Ended 31 July 2017 |
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 31 July 2017. 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 2015). |
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OBJECTIVES AND ACTIVITIES |
Objectives and Activities |
The Foundation aims to promote basketball for the disadvantaged and disabled in Surrey, East Berkshire |
and North East Hampshire. We are working hard to reach as many groups in the community as we can |
working with Youth workers, Family services, Charities and the Police. |
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Public benefit |
The trustees have referred to the Charity Commission's guidance on public benefit when reviewing aims |
and objectives and when planning future activities. The trustees are satisfied that their aims and objectives |
would provide a benefit and that the target audience for their activities comprises a sufficient section of |
the public. The trustees are therefore satisfied that the Trust meets the Charity Commission's public benefit |
test. |
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STRATEGIC REPORT |
Achievement and performance |
The trustees have sought to maintain the funds available to the charity and continue to explore further |
sources of funding including approaching businesses and trustees fundraising themselves. |
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During this year we received funding from Active Surrey, Basketball England and Hampshire Energise Me |
and some individual contributors. |
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During the year we were able to establish basketball sessions for young people with Learning Disabilities |
with a view to getting into the Special Olympics and a School dealing with young people with behavioural |
issues. Both of these are ongoing. |
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Financial review |
Reserves |
The trustees currently seek to maintain as a matter of course sufficient reserves to fund a minimum of |
three months' anticipated expenditure. The trustees will be seeking to increase this as the availability of |
funds permits. |
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STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, |
limited by guarantee, as defined by the Companies Act 2006. |
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REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
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Registered Charity number |
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Scorchers Basketball Foundation |
Report of the Trustees |
for the Year Ended 31 July 2017 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered office |
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Trustees |
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- resigned 10.11.17 |
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- resigned 27.7.17 |
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- appointed 10.11.17 |
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- appointed 10.11.17 |
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- appointed 10.11.17 |
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Company Secretary |
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Report of the trustees
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incorporating a strategic report, approved by order of the board of
trustees
, as the company directors, on
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Scorchers Basketball Foundation |
Statement of Financial Activities |
for the Year Ended 31 July 2017 |
31.7.17 | 31.7.16 |
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Unrestricted
fund |
Restricted
fund |
Total
funds |
Total
funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
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Other trading activities | 2 |
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Total |
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EXPENDITURE ON |
Raising funds |
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Other |
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Total |
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NET INCOME |
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RECONCILIATION OF FUNDS |
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Total funds brought forward |
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TOTAL FUNDS CARRIED FORWARD |
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8,335 |
CONTINUING OPERATIONS |
All income and expenditure has arisen from continuing activities. |
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Scorchers Basketball Foundation |
Balance Sheet |
At 31 July 2017 |
31.7.17 | 31.7.16 |
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Unrestricted
fund |
Restricted
fund |
Total
funds |
Total
funds |
Notes | £ | £ | £ | £ |
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CURRENT ASSETS |
Cash at bank |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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FUNDS | 5 |
Unrestricted funds | 9,709 | 8,335 |
TOTAL FUNDS |
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8,335 |
Scorchers Basketball Foundation |
Balance Sheet - continued |
At 31 July 2017 |
The charitable company is entitled to exemption from audit under |
Section 477 of the Companies Act 2006 for the year ended 31 July 2017. |
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The members have not required the company to obtain an audit of its financial statements for the year |
ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006. |
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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. |
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These financial statements have been prepared in accordance with the |
special provisions of Part 15 of the Companies Act 2006 relating to |
charitable small companies. |
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The financial statements were approved by
the Board of
Trustees
on
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Scorchers Basketball Foundation |
Notes to the Financial Statements |
for the Year Ended 31 July 2017 |
1. | ACCOUNTING POLICIES |
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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 2015)', 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. |
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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. |
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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. |
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Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the |
trustees. |
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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. |
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Further explanation of the nature and purpose of each fund is included in the notes to the financial |
statements. |
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2. | OTHER TRADING ACTIVITIES |
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31.7.17 | 31.7.16 |
£ | £ |
Fundraising events |
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Scorchers Basketball Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
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There were no trustees' remuneration or other benefits for the year ended 31 July 2017 nor for the |
year ended 31 July 2016 . |
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Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 July 2017 nor for the year ended |
31 July 2016 . |
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4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
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Unrestricted
fund |
Restricted
fund |
Total
funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
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Other trading activities |
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Total |
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EXPENDITURE ON |
Other |
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Total |
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NET INCOME |
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RECONCILIATION OF FUNDS |
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Total funds brought forward | 6,617 | - | 6,617 |
TOTAL FUNDS CARRIED FORWARD | 8,335 | - | 8,335 |
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Scorchers Basketball Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
5. | MOVEMENT IN FUNDS |
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At 1.8.16 |
Net
movement in funds |
At 31.7.17 |
£ | £ | £ |
Unrestricted funds |
General fund | 8,335 | 1,374 | 9,709 |
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TOTAL FUNDS |
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1,374 | 9,709 |
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Net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement
in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 6,628 | (5,254 | ) | 1,374 |
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TOTAL FUNDS |
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( |
) | 1,374 |
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Comparatives for movement in funds |
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At 1.8.15 |
Net
movement in funds |
At 31.7.16 |
£ | £ | £ |
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Unrestricted Funds |
General fund | 6,617 | 1,718 | 8,335 |
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TOTAL FUNDS | 6,617 | 1,718 | 8,335 |
Comparative net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement
in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 9,435 | (7,717 | ) | 1,718 |
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TOTAL FUNDS | 9,435 | (7,717 | ) | 1,718 |
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Scorchers Basketball Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
6. | RELATED PARTY DISCLOSURES |
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There were no related party transactions for the year ended 31 July 2017. |
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Scorchers Basketball Foundation |
Reconciliation of Income and Expenditure |
for the Year Ended 31 July 2016 |
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UK GAAP |
Effect of
transition to FRS 102 |
FRS 102 |
Notes | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 6,725 |
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6,725 |
Other trading activities | 2,710 |
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2,710 |
Total | 9,435 |
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9,435 |
EXPENDITURE ON |
Other | 7,717 |
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7,717 |
NET INCOME | 1,718 |
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1,718 |
Scorchers Basketball Foundation |
Reconciliation of Funds |
At 1 August 2015 |
(Date of Transition to FRS 102) |
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UK GAAP |
Effect of
transition to FRS 102 |
FRS 102 |
Notes | £ | £ | £ |
- | - | - |
TOTAL ASSETS LESS CURRENT LIABILITIES | - |
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- |
- |
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FUNDS |
TOTAL FUNDS | - | - | - |
Scorchers Basketball Foundation |
Reconciliation of Funds |
At 31 July 2016 |
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UK GAAP |
Effect of
transition to FRS 102 |
FRS 102 |
Notes | £ | £ | £ |
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CURRENT ASSETS |
Cash at bank | 8,335 |
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8,335 |
NET CURRENT ASSETS | 8,335 |
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8,335 |
TOTAL ASSETS LESS CURRENT LIABILITIES | 8,335 |
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8,335 |
NET ASSETS | 8,335 |
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8,335 |
FUNDS |
Unrestricted funds | 8,335 | - | 8,335 |
TOTAL FUNDS | 8,335 | - | 8,335 |