Culter Amateur Sports (Training, Leisure - Charities report - 22.2
Culter Amateur Sports (Training, Leisure - Charities report - 22.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 May 2022 |
| for |
| Culter Amateur Sports (Training, Leisure |
| and Education) Limited |
| Culter Amateur Sports (Training, Leisure |
| and Education) Limited |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2022 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 | to | 9 |
| Culter Amateur Sports (Training, Leisure |
| and Education) Limited (Registered number: SC231926) |
| Report of the Trustees |
| for the Year Ended 31 May 2022 |
| 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 May 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 Republic of Ireland (FRS 102) (effective 1 January 2019). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The objective of the charity is to deliver a state of the art sports facility in the Culter area, for the benefit of local youth and adult amateur sports teams within the community. The relocation of Culter Youth Football Club and the creation of new purpose-built facilities will help to meet the growing demand for facilities by the club and the ever-increasing demand for 'all-weather' surfaces in the City and will improve accessibility to sport. |
| ACHIEVEMENT AND PERFORMANCE |
| Review of activities |
| No significant change in activities for the year, other than monitoring the agreement with the developer and planning application with Aberdeen City Council. The 2016-2017 agreement involved additional land received by CASTLE in return for an agreement option for the developer to exercise within the next five years where CASTLE would receive £600K over a series of instalments to facilitate a new 3G sports field facility in a different location. |
| Funds of CASTLE are constituted from initial £15.5k payment paid by the developer on signature of the agreement in 2016-2017. This new 3G facility would benefit the community of Culter and surrounding areas eg Cults, Milltimber, Bieldside. The eventual goal of the organisation to provide an improved facility for use by local community and Culter Youth Football Club. |
| The Crombie training facility continues to be well used by the members of CYFC during the financial period. |
| Planning |
| The developer who CASTLE have an option agreement with, Gordon Investments Corporation Limited (GICL), have been successful in gaining Planning in Principle for 49 residential units over part of their overall masterplan area, which includes our Crombie facility. GICL are looking to gain PIP for a further circa 45 residential units in the next financial year before looking to sell to a mainstream developer which would help crystallise the option agreement between GICL and CYFC. |
| This option is due to expire on 28 February 2023 and we are currently in the process of extending this option agreement for a further 5 year period, negotiations are ongoing. |
| Our plans to create a 3G facility at Coronation Park, Peterculter with the proceeds from any exercise of our option, have been halted by the the results of a ground condition engineering report which indicates an additional £100k to manage landfill issues on this site. We are currently exploring other options and locations. |
| FINANCIAL REVIEW |
| Financial position |
| Net expenditure incurred during the year ended 31 May 2022 was £773 (2021 - £875). No income was received other than a small amount of bank interest. |
| Reserves policy |
| At 31 May 2022 a balance of £13,939 reserves were retained (31/05/21 - £14,712) for use in future activities. The nature of the activities of the charity does not require a high level of reserves for continued operation. |
| 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. |
| Culter Amateur Sports (Training, Leisure |
| and Education) Limited (Registered number: SC231926) |
| Report of the Trustees |
| for the Year Ended 31 May 2022 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Organisational structure |
| The organisation is a registered charity and a non-profit making company limited by guarantee. It is managed by the trustees, who are also the directors. Directors are appointed by way of a resolution passed by a majority vote at a meeting of the members. The members' liability is limited by guarantee and, in the event of winding up, does not exceed £1 per member. |
| 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. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Ruth Howie |
| ICAS |
| J M Taylor |
| 5 Rubislaw Terrace |
| ABERDEEN |
| AB10 1XE |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| Culter Amateur Sports (Training, Leisure |
| and Education) Limited |
| I report on the accounts for the year ended 31 May 2022 set out on pages four to nine. |
| Respective responsibilities of trustees and examiner |
| The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
| Basis of the independent examiner's report |
| My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
| Independent examiner's statement |
| In connection with my examination, no matter has come to my attention : |
| (1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
| - | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
| - | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
| have not been met; or |
| (2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
| Ruth Howie |
| ICAS |
| J M Taylor |
| 5 Rubislaw Terrace |
| ABERDEEN |
| AB10 1XE |
| 16 February 2023 |
| Culter Amateur Sports (Training, Leisure |
| and Education) Limited |
| Statement of Financial Activities |
| for the Year Ended 31 May 2022 |
| 31.5.22 | 31.5.21 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Investment income | 2 |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 14,712 |
| Culter Amateur Sports (Training, Leisure |
| and Education) Limited (Registered number: SC231926) |
| Balance Sheet |
| 31 May 2022 |
| 31.5.22 | 31.5.21 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 6 |
| Unrestricted funds | 14,712 |
| TOTAL FUNDS | 14,712 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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. |
| 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 |
| Culter Amateur Sports (Training, Leisure |
| and Education) Limited |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2022 |
| 1. | 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. |
| 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. |
| 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. |
| 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. |
| No restricted funds are currently used. |
| 2. | INVESTMENT INCOME |
| 31.5.22 | 31.5.21 |
| £ | £ |
| Deposit account interest |
| 3. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 May 2022 nor for the year ended 31 May 2021. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 May 2022 nor for the year ended 31 May 2021. |
| Culter Amateur Sports (Training, Leisure |
| and Education) Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2022 |
| 4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted |
| fund |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Investment income |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 14,712 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.22 | 31.5.21 |
| £ | £ |
| Accrued expenses |
| 6. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.6.21 | in funds | 31.5.22 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 14,712 | (773 | ) | 13,939 |
| TOTAL FUNDS | (773 | ) | 13,939 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 3 | (776 | ) | (773 | ) |
| TOTAL FUNDS | ( |
) | (773 | ) |
| Culter Amateur Sports (Training, Leisure |
| and Education) Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2022 |
| 6. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.6.20 | in funds | 31.5.21 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 15,587 | (875 | ) | 14,712 |
| TOTAL FUNDS | 15,587 | (875 | ) | 14,712 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 2 | (877 | ) | (875 | ) |
| TOTAL FUNDS | 2 | (877 | ) | (875 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.6.20 | in funds | 31.5.22 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 15,587 | (1,648 | ) | 13,939 |
| TOTAL FUNDS | 15,587 | (1,648 | ) | 13,939 |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 5 | (1,653 | ) | (1,648 | ) |
| TOTAL FUNDS | 5 | (1,653 | ) | (1,648 | ) |
| Culter Amateur Sports (Training, Leisure |
| and Education) Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2022 |
| 7. | RELATED PARTY DISCLOSURES |