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South Shields FC Foundation Limited |
For the year ended 30 June 2022
Report of the Trustees and Unaudited Financial Statements
2
For the year ended 30 June 2022
South Shields FC Foundation Limited
Contents Page
1
Report of the Trustees
2
Independent Examiner's Report to the Trustees
3
Statement of Financial Activities
4
Statement of Financial Position
5 to 10
Notes to the Financial Statements
3
For the year ended 30 June 2022
South Shields FC Foundation Limited
Report of the Trustees
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial |
statements for the charitable company for the year ended 30 June 2022. 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 the Republic of Ireland (FRS 102) (effective 1 January 2015). |
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. |
REFERENCE AND ADMINISTRATIVE INFORMATION |
South Shields FC Foundation Limited
Charity registration number |
1176894
10257450
Company registration number |
The trustees and officers serving during the year and since the year end were as follows:
Gary Crutwell
Stephen David Taylor
Martin Ronald Urwin
Keith Finnigan
John Watson (Resigned on 27/12/2021)
(Resigned: 27 December 2021) |
Geoff Thompson (appointed on 01/07/2021)
(Appointed: 01 July 2021) |
Beach Accountants Limited
Chartered Certified Accountants
10 Blue Sky Way
Monkton Business Park South
South Tyneside
NE31 2EQ
............................................................................. |
Approved by the Board of Trustees and signed on its behalf by |
1 of 10
4
For the year ended 30 June 2022
South Shields FC Foundation Limited
Independent Examiners Report to the Trustees
I report to the trustees on my examination of the accounts of the charitable company for the year ended 30 June 2022. |
Responsibilities and basis of report |
As the charity Trustees, who are also directors for the purposes of company law, 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 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 examiners statement |
Since the Charitable company’s gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of |
the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of , which is one of the listed |
bodies. |
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 that in any material respect: |
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 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. |
Beach Accountants Limited
Chartered Certified Accountants
10 Blue Sky Way
Monkton Business Park South
South Tyneside
NE31 2EQ
30 June 2023
2 of 10
5
For the year ended 30 June 2022
South Shields FC Foundation Limited
Statement of Financial Activities (including Income and Expenditure Account)
2021
Income and endowments from: |
181,895
129,740
2
42,912
14,798
3
17,677
(9,926)
4
10,000
-
252,484
134,612
(70,231)
(106,104)
5/6
(181,878)
(103,165)
7
(252,109)
(209,269)
375
(74,657)
Total funds brought forward |
8,145
(66,512)
Total funds carried forward |
(66,137)
(66,512)
3 of 10
6
South Shields FC Foundation Limited
Statement of Financial Position
2022
2021
28,170
22,084
13
28,170
22,084
36,725
7,018
14
Debtors
4,497
50,380
41,222
57,398
Creditors: amounts falling due within one year |
(106,362)
(106,827)
15
Net current assets
(65,140)
(49,429)
Total assets less current liabilities |
(36,970)
(27,345)
Creditors: amounts falling due after more than one year |
(29,167)
(39,167)
Net assets
(66,137)
(66,512)
Unrestricted income funds |
16
(66,137)
(66,512)
(66,137)
(66,512)
For the year ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, |
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by: |
30 June 2023
4 of 10
7
For the year ended 30 June 2022
South Shields FC Foundation Limited
Notes to the Financial Statements
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Companies Act 2006. South Shields FC Foundation 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 note(s). |
The Trustees have assessed the financial viability of the Charity and have concluded that there is no reason why the Charity will not continue operating for at least 12 months following the year ending 30th June 2022 . For this reason the financial accounts have been prepared on a going concern basis. |
2. Income from donations and legacies |
2021
2022
93,459
149,917
36,281
27,178
-
4,800
129,740
181,895
3. Income from charitable activities |
2021
2022
Football camps and Activities
42,912
14,798
Income from charitable activities
4. Income earned from other activities |
2021
2022
Fund raising events
4,934
16,917
(14,860)
760
(9,926)
17,677
5 of 10
8
For the year ended 30 June 2022
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
5. Expenditure on generating donations and legacies |
2021
2022
66,718
29,130
1,780
871
30,001
68,498
6. Expenditure on other trading activities |
2021
2022
37,606
40,230
Fund raising events
40,230
37,606
7. Costs of charitable activities by fund type |
2021
2022
224
6,793
Grant Income
90,737
158,264
Fundraising
12,204
16,821
Support costs
103,165
181,878
6 of 10
9
For the year ended 30 June 2022
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
8. Analysis of support costs |
2021
2022
Governance costs
Accountancy fees
6,359
3,990
Premises costs
11
1,559
Motor and travel expenses
1,874
272
Other finance costs
4,909
3,608
Bank loan interest
3,020
1,440
Printing
253
322
Advertising
395
1,013
16,821
12,204
9. Net income/(expenditure) for the year |
This is stated after charging/(crediting): |
2022
2021
Depreciation of owned fixed assets |
25,324
28,538
6,359
3,990
Staff pension contributions |
591
281
10. Staff costs and emoluments |
Total staff costs for the year ended 30 June 2022 were: |
2022
2021
28,308
66,437
591
281
28,899
66,718
7 of 10
10
For the year ended 30 June 2022
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
2022
2021
12
Total staff
11. Trustee remuneration and related party transactions |
There are no disclosable transactions with related parties in the year.
12. Comparative for the Statement of Financial Activities |
The comparative year values on the Statement of Financial Activites are for unrestricted funds. |
13. Tangible fixed assets |
87,704
2,530
85,174
31,410
300
31,110
116,284
2,830
119,114
65,620
1,246
64,375
Charge for year
25,324
506
24,818
90,944
1,752
89,192
27,091
20,800
1,078
1,284
28,170
22,084
8 of 10
11
For the year ended 30 June 2022
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
2022
2021
Amounts due within one year: |
11,370
4,425
25,355
2,593
36,725
7,018
15. Creditors: amounts falling due within one year |
2022
2021
10,000
10,000
3,150
15,746
82,888
62,284
Accruals and deferred income |
10,324
18,797
106,362
106,827
General
(66,512)
252,484
(252,109)
(66,137)
General
(66,512)
252,484
(252,109)
(66,137)
Unrestricted Funds - Previous year |
General
8,145
134,612
(209,269)
(66,512)
General
8,145
134,612
(209,269)
(66,512)
9 of 10
12
For the year ended 30 June 2022
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
Purpose of unrestricted Funds |
General
To fund the general objectives of the charity.
Purpose of restricted funds |
Sponsorship
17. Analysis of net assets between funds |
Net current |
assets / |
(liabilities) |
Net Assets
Unrestricted funds
General
28,170
(65,140)
(29,167)
(66,137)
General
28,170
(65,140)
(29,167)
(66,137)
Net current |
assets / |
(liabilities) |
Net Assets
Unrestricted funds
General
22,084
(49,429)
(39,167)
(66,512)
General
22,084
(49,429)
(39,167)
(66,512)
10 of 10