The National League Trust Ltd - Charities report - 18.1
The National League Trust Ltd - Charities report - 18.1
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Audited Financial Statements for the Year Ended 31 May 2018 |
for |
The National League Trust Ltd |
The National League Trust Ltd |
Contents of the Financial Statements |
for the Year Ended 31 May 2018 |
Page |
Report of the Trustees | 1 to 3 |
Report of the Independent Auditors | 4 to 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 |
Cash Flow Statement | 8 |
Notes to the Cash Flow Statement | 9 |
Notes to the Financial Statements | 10 to 15 |
The National League Trust Ltd |
Report of the Trustees |
for the Year Ended 31 May 2018 |
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 2018. 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims for the public benefit |
The objectives of the charity are to promote the physical education of children and young persons, community |
participation in healthy recreation by providing facilities for playing football or other sports capable of improving |
physical health, to assist in providing facilities for recreation or other leisure time occupation of persons who have need |
for such facilities by reasons of age, infirmity or disablement, poverty or social economic circumstances or for the public |
at large in the interests of social welfare, and to advance the education of children and young people and provide |
opportunities for them to develop their full capacities to enable them to become responsible members of society. |
Individual schemes are run by Club Community Organisations (CCOs) of member clubs of The National League and |
these are grant aided by the charity through donations from the Premier League and Professional Footballers |
Association. |
The trustees confirm they have reviewed the guidance contained in the Charity Commission's general guidance on public |
benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making |
policy. |
Grantmaking |
The Trust invites applications for grants from CCOs of member clubs of The National League towards schemes in line |
with the Trust's aims and objectives. If accepted by the trustees, CCOs of clubs in the Premier Division can be awarded a |
grant of 65% of the projected costs with a maximum of £25,000 and CCOs of clubs in the North and South Divisions |
can be awarded a grant of 75% with a maximum of £20,000. |
Since 2016/17 the Trust has worked with the Premier League Charitable Fund to create a new grant programme as part |
of the PLCF's Premier League Primary Stars. This is an education programme that connects learning to the world of |
sport to enthuse pupils when tackling challenging topics. It is linked to the national curriculum and is available to every |
primary school in England and Wales. It uses the appeal of the Premier League and professional football clubs to |
improve and enhance physical education (PE) and other curriculum areas, developing skills and values. Only National |
League CCOs with charitable status are able to apply to this programme. In 2017/18 grants were available at the rate of |
100% up to a ceiling of £12,000 and 12 awards were made. For the 2018/19 year two grant levels were available: grants |
of £25,000 for those CCOs delivering a second year of the programme and £15,000 for those delivering for the first |
time. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Since taking over responsibility of the scheme on 1 April 2012 the trust has approved grants of £5,420,148. In the year |
54 grants were made to 47 CCOs (2017 - 59 grants to 42 CCOs), with 2 being funded for the first time. The total value |
of these grants was £920,976 to projects costing £1,698,394 (2017 - grants of £1,013,868 to projects costing |
£1,823,194). These projects included working with young people at risk of offending, supporting health initiatives, |
cheerleading, music, dance and other arts activities, encouraging volunteering, working with young people not in |
employment, education or training (NEETs), helping different disability groups to play sport, creating educational |
initiatives for adults and children, working with isolated community groups, green projects, healthy eating and lifestyle |
and working in partnership with schools to deliver football coaching and other initiatives. |
FINANCIAL REVIEW |
Principal funding sources |
The principal funding sources are the Premier League and the Professional Footballers Association who have donated |
£800,000 and £400,000 respectively in the year. The Premier League have agreed to pay £800,000 and the Professional |
Footballers Association £400,000 in 2018/19. Each year £300,000 of the donation by the Premier League has been |
ring-fenced for the Premier League Primary Stars grant programme. |
The National League Trust Ltd |
Report of the Trustees |
for the Year Ended 31 May 2018 |
FINANCIAL REVIEW |
Reserves policy |
Free reserves at 31 May 2018 amounted to £634,169 (2017 - £488,102). These are held for future grant claims and |
support costs in 2018/19 in restricted funds. At all times the Trust has an uncommitted reserve of £100,000. Interest will |
continue to be received on the cash deposits and the trustees consider there are sufficient reserves to cover all |
expenditure in the coming year. |
FUTURE PLANS |
The charity plans to continue the activities in 2018/19 following the funding pledge as above and to complete the |
projects started in previous periods. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, the articles of association, and constitutes a limited company, |
limited by guarantee, as defined by the Companies Act 2006. In the event of the company being wound up the member is |
required to contribute an amount not exceeding £1. |
Trustees |
The charity is governed by the Trustees who meet four times a year and the meetings are attended by S O'Brien the |
project manager, who acts in an advisory and reporting capacity only. Each year one third of the trustees must retire but |
they may be reappointed and there must be a minimum of three at all times. |
The trustees have been selected for their experience in football administration, knowledge of the beneficiary clubs and |
general business skills, together with their prominence as community figures. N J Perchard and D Leman have also been |
appointed as representatives of the major donors to assist with the objectives of the charity being met. |
Organisational structure |
All decisions are made by the trustees at their meetings. The administration of the scheme is handled by the project |
manager, S O'Brien, who deals directly with each applicant and reports to the trustees on the proposed projects and |
advises on all payments to be made. |
Related parties |
Details of related parties and related party transactions are given in note 14 to the financial statements. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
- resigned 1.7.17 |
- appointed 18.10.17 |
The National League Trust Ltd |
Report of the Trustees |
for the Year Ended 31 May 2018 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Auditors |
Statutory Auditors |
Weaverham |
Northwich |
Cheshire |
CW8 3HA |
Solicitors |
Bates Wells & Braithwaite London LLP, 2-6 Cannon Street, London EC4M 6YH |
Bankers |
National Westminster Bank plc, Northwich, Cheshire |
STATEMENT OF TRUSTEES RESPONSIBILITIES |
The trustees (who are also the directors of The National League Trust Ltd for the purposes of company law) are |
responsible for preparing the Report of the Trustees 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 year which give a true and fair view |
of the state of affairs of the charitable company and of the incoming resources and application of resources, including |
the income and expenditure, of the charitable company for that period. In preparing those financial statements, the |
trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time |
the financial position of the charitable company and to enable them to ensure that the financial statements comply with |
the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for |
taking reasonable steps for the prevention and detection of fraud and other irregularities. |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
AUDITORS |
The auditors, Boardman Conway will be proposed for re-appointment at the forthcoming Annual General Meeting. |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating |
to small companies. |
Approved by order of the board of trustees on |
Report of the Independent Auditors to the Members of |
The National League Trust Ltd |
Opinion |
We have audited the financial statements of The National League Trust Ltd (the 'charitable company') for the year ended 31 May 2018 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the charitable company's affairs as at 31 May 2018 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. |
Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the |
financial statements section of our report. We are independent of the charitable company in accordance with the ethical |
requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, |
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit |
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to |
you where: |
- | the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or |
- | the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
Other information |
The trustees are responsible for the other information. The other information comprises the information included in the |
annual report, other than the financial statements and our Report of the Independent Auditors thereon. |
Our opinion on the financial statements does not cover the other information and we do not express any form of |
assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing |
so, consider whether the other information is materially inconsistent with the financial statements or our knowledge |
obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we |
conclude that there is a material misstatement of this other information, we are required to report that fact. We have |
nothing to report in this regard. |
Opinion on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of |
the audit, we have not identified material misstatements in the Report of the Trustees. |
Report of the Independent Auditors to the Members of |
The National League Trust Ltd |
Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you |
if, in our opinion: |
- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- | the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. |
Responsibilities of trustees |
As explained more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors of the |
charitable company for the purposes of company law) are responsible for the preparation of the financial statements and |
for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary |
to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to |
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern |
basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have |
no realistic alternative but to do so. |
Our responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from |
material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our |
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance |
with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error |
and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the |
economic decisions of users taken on the basis of these financial statements. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting |
Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the |
Independent Auditors. |
Use of our report |
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of |
the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's |
members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest |
extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the |
charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Statutory Auditors |
Weaverham |
Northwich |
Cheshire |
CW8 3HA |
The National League Trust Ltd |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 May 2018 |
31.5.18 | 31.5.17 |
Unrestricted fund |
Restricted funds |
Total funds |
Total funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Charitable activities | 4 |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 488,102 |
The National League Trust Ltd |
Balance Sheet |
At 31 May 2018 |
31.5.18 | 31.5.17 |
Unrestricted fund |
Restricted funds |
Total funds |
Total funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Restricted funds | 488,102 |
TOTAL FUNDS | 488,102 |
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. |
The financial statements were approved by the Board of Trustees on |
The National League Trust Ltd |
Cash Flow Statement |
for the Year Ended 31 May 2018 |
31.5.18 | 31.5.17 |
Notes | £ | £ |
Cash flows from operating activities: |
Cash generated from operations | 1 | 106,029 | 191,827 |
Net cash provided by (used in) operating activities |
106,029 |
191,827 |
Cash flows from investing activities: |
Purchase of tangible fixed assets | (1,642 | ) | - |
Interest received | 1,079 | 1,081 |
Net cash provided by (used in) investing activities | (563 | ) | 1,081 |
Change in cash and cash equivalents in the reporting period |
105,466 |
192,908 |
Cash and cash equivalents at the beginning of the reporting period |
1,422,443 |
1,229,535 |
Cash and cash equivalents at the end of the reporting period |
1,527,909 |
1,422,443 |
The National League Trust Ltd |
Notes to the Cash Flow Statement |
for the Year Ended 31 May 2018 |
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
31.5.18 | 31.5.17 |
£ | £ |
Net income for the reporting period (as per the statement of financial activities) |
146,066 |
97,034 |
Adjustments for: |
Depreciation charges | 411 | - |
Interest received | (1,079 | ) | (1,081 | ) |
Decrease/(increase) in debtors | 8,513 | (764 | ) |
(Decrease)/increase in creditors | (47,882 | ) | 96,638 |
Net cash provided by (used in) operating activities | 106,029 | 191,827 |
The National League Trust Ltd |
Notes to the Financial Statements |
for the Year Ended 31 May 2018 |
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 2015)', |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland', the Charities Act 2011 and the Companies Act 2006. The financial statements have been prepared under |
the historical cost convention. |
Incoming resources |
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled |
to the income and the amount can be quantified with reasonable accuracy. |
Voluntary income by way of donations are included in full in the Statement of Financial Activities when |
receivable. |
Bank interest is included in the period it accrues. |
Resources expended |
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs |
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. The charity is not registered for VAT, and |
expenditure is analysed inclusive of VAT where this has been incurred. |
Support costs comprise those costs incurred by the charity in the delivery of its activities and services for its |
beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect |
nature to support them. |
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the |
charity and include the audit fee and costs linked to the strategic management of the charity. |
Grants payable are payments to third parties in the furtherance of the charitable objects of the Trust. Grants are |
accounted for in the year in which they are awarded without condition. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but |
not accrued as expenditure. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term |
highly liquid investments with original maturities of three months or less. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Computer equipment |
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and |
accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its |
tangible fixed assets to determine whether there is any indication that any items have suffered an impairment |
loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the |
extent of the impairment losses, if any. Where it is not possible to estimate the recoverable amount of the asset, |
the company estimates the recoverable amount of the cash-generating unit to which the assets belongs. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
The National League Trust Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
1. | ACCOUNTING POLICIES - continued |
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. In the year to 31 |
May 2018 all funds are restricted and the balance on the funds are given in the notes to the financial statements. |
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 transactions value and subsequently measured at their |
settlement value. |
Trade and other debtors |
Trade and other debtors are recognised at the settlement amount after any trade discount offered. |
Trade and other creditors |
Trade and other creditors are recognised where the charity has a present obligation resulting from a past event |
and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at |
their settlement amount after allowing for any trade discounts due. |
2. | DONATIONS AND LEGACIES |
31.5.18 | 31.5.17 |
£ | £ |
Donations |
3. | INVESTMENT INCOME |
31.5.18 | 31.5.17 |
£ | £ |
Deposit account interest |
4. | CHARITABLE ACTIVITIES COSTS |
Grant funding of activities |
Support costs |
Totals |
(See note 5) | (See note 6) |
£ | £ | £ |
Grants to Club Community Organisations (CCOs) | 936,416 | 118,597 | 1,055,013 |
5. | GRANTS PAYABLE |
Year Ended | Year Ended |
31.5.18 | 31.5.17 |
£ | £ |
Grants to Football Conference Premier CCOs | 563,592 | 514,231 |
Grants to Football Conference North CCOs | 373,211 | 330,196 |
Grants to Football Conference South CCOs | 225,338 | 229,710 |
Community Club Of The Year Awards | 30,000 | 30,000 |
Grants withdrawn | (255,725 | ) | (106,941 | ) |
936,416 | 997,196 |
The National League Trust Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
6. | SUPPORT COSTS |
Year Ended | Year Ended |
Management | Other | Governance | 31.5.18 | 31.5.17 |
£ | £ | £ | £ | £ |
Administration support | 6,295 | - | - | 6,295 | 5,714 |
Consultancy fees | 53,257 | - | - | 53,257 | 53,286 |
Website development | - | 1,308 | - | 1,308 | 7,926 |
Sundries | - | 1,425 | - | 1,425 | 550 |
Workshops | - | 8,789 | - | 8,789 | 1,736 |
Public relations and media costs | - | 5,393 | - | 5,393 | 19,913 |
Tournaments | - | 9,222 | - | 9,222 | 5,779 |
Travelling | - | 2,295 | - | 2,295 | 2,832 |
Year end awards costs | - | 483 | - | 483 | 471 |
Computer and software | - | 258 | - | 258 | 2,003 |
Views monitoring | - | 6,000 | - | 6,000 | - |
Rent and service charges | - | 2,400 | - | 2,400 | - |
Depreciation of computer equipment |
- |
411 |
- |
411 |
- |
Auditors' remuneration | - | - | 3.900 | 3,900 | 3,840 |
Auditors' non audit remuneration | - | - | 300 | 300 | 180 |
Legal and professional fees | - | - | 16,860 | 16,860 | 2,621 |
59,552 | 37,984 | 21,060 | 118,596 | 106,851 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.5.18 | 31.5.17 |
£ | £ |
Auditors' remuneration | 3,900 | 3,840 |
Other non-audit services | 300 | 180 |
Depreciation - owned assets |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 May 2018 nor for the year ended |
31 May 2017. |
Trustees' expenses |
During the year two trustees were paid a total of £1,443 (2017 - £1,635) for travelling expenses. |
The National League Trust Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
9. | STAFF COSTS |
The total staff costs for the year ended 31 May 2018 were £6,295 (2017 - £5,714), and these all related to wages |
and salaries. |
The average monthly number of employees during the year was as follows: |
31.5.18 | 31.5.17 |
Administration | 1 | 1 |
There were no employees who received employee benefits of more than £60,000. |
10. | TANGIBLE FIXED ASSETS |
Computer equipment |
£ |
COST |
Additions |
DEPRECIATION |
Charge for year |
NET BOOK VALUE |
At 31 May 2018 |
At 31 May 2017 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.18 | 31.5.17 |
£ | £ |
Other debtors |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.18 | 31.5.17 |
£ | £ |
Trade creditors |
Grants awarded | 849,815 | 905,148 |
Other creditors |
Accrued expenses |
The National League Trust Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
13. | MOVEMENT IN FUNDS |
At 1.6.17 |
Net movement in funds |
Transfers between funds |
At 31.5.18 |
£ | £ | £ | £ |
Restricted funds |
Main Grant Fund | 488,102 | 11,360 | (300,000 | ) | 199,462 |
Primary Stars Fund | - | 134,706 | 300,000 | 434,706 |
146,066 |
TOTAL FUNDS | 146,066 | 634,168 |
Net movement in funds, included in the above are as follows: |
Incoming resources |
Resources expended |
Movement in funds |
£ | £ | £ |
Restricted funds |
Main Grant Fund | 901,079 | (889,719 | ) | 11,360 |
Primary Stars Fund | 300,000 | (165,294 | ) | 134,706 |
( |
) | 146,066 |
TOTAL FUNDS | ( |
) | 146,066 |
Comparatives for movement in funds |
At 1.6.16 |
Net movement in funds |
At 31.5.17 |
£ | £ | £ |
Restricted Funds |
Main Grant Fund | 391,068 | 97,034 | 488,102 |
TOTAL FUNDS | 391,068 | 97,034 | 488,102 |
Comparative net movement in funds, included in the above are as follows: |
Incoming resources |
Resources expended |
Movement in funds |
£ | £ | £ |
Restricted funds |
Main Grant Fund | 1,201,081 | (1,104,047 | ) | 97,034 |
TOTAL FUNDS | 1,201,081 | (1,104,047 | ) | 97,034 |
The National League Trust Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
13. | MOVEMENT IN FUNDS - continued |
Transfers between funds |
£300,000 was received in the previous year for the Primary Stars Fund. In the current year it was decided by the |
Trustees to keep this separate from the Main Grant Fund, and was transferred accordingly. |
14. | RELATED PARTY DISCLOSURES |
At 31 May 2018 the Trust owed The National League £nil (2017 - £1,177). During the year the charity was |
charged £2,400 (2017 - £nil) by The National League for rent and service charges. |
15. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is The Football Conference Limited, known as The National League, who is the |
sole member, although the charity is under the day to day control of the Trustees. |