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THE OLD ALBANIAN SPORTS ASSOCIATION LIMITED

Registered charity 1107746 · accounts filings on the Charity Commission register · also known as OLD ALBANIAN SPORTS ASSOCIATION LIMITED, OLD ALBANIAN SPORTS ASSOCIATION LIMITED - CONVERSION TO A CHARITABLE CO LIMITED BY GUARANTEE · filing overdue (register status)

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Latest income
£1.0m
Latest spending
£1.3m
Registered
2005
Accounts read
FY2024

Financial health, per its FY2024 accounts

The accounts state that the charity reported a net outgoing resource of £274,369 for the year, resulting in total unrestricted funds decreasing to £4,441,572. The trustees maintain that unrestricted funds are held at a level equivalent to between three and six months of expenditure, which they consider sufficient to ensure continuity of activities. Despite a downturn in hospitality trading due to the cost of living crisis, the trustees confirm adequate resources for the foreseeable future with no material uncertainties regarding going concern.

What the accounts disclose

Reserves policy: between three and six month's expenditure (held: £4.4m)
“It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure.” — page 7
Per its FY2024 accounts as filed with the Charity Commission.
Audit opinion: qualified
“We do not express an opinion on the financial statements of the group. Because of the significance of the matter described in the Basis for disclaimer of opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on the financial statements.” — page 12
Per its FY2024 accounts as filed with the Charity Commission.
Governance: The audit report contains a disclaimer of opinion due to significant limitations in obtaining sufficient appropriate audit evidence regarding material balances and pervasive issues with accounting records.
“Because of the significance of the matter described in the Basis for disclaimer of opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on the financial statements.”
Per its FY2024 accounts as filed with the Charity Commission.

Accounts audited by Moore Kingston Smith LLP. Discloses 5 of 6 completeness components.

Structured financials (annual return, FY ending 31/03/2024)

Total income
£1.0m
Total spending
£1.3m
Cost of raising funds
£793k
Reserves (reported)
£0
Employees
33

Reported reserves equal ~0.0 months of spending — in the bottom quarter for charities its size (median 4.8 months; benchmarks).

Trustees

Trustee list from the Charity Commission register (current, not historical).

Operates in: Hertfordshire

Income and spending

Financial year endIncomeSpending
31/03/2025——
31/03/2024£1.0m£1.3m
31/03/2023£1.0m£1.2m
31/03/2022£845k£1.0m
31/03/2021£547k£650k

Common questions

Is THE OLD ALBANIAN SPORTS ASSOCIATION LIMITED financially healthy?

The accounts state that the charity reported a net outgoing resource of £274,369 for the year, resulting in total unrestricted funds decreasing to £4,441,572. The trustees maintain that unrestricted funds are held at a level equivalent to between three and six months of expenditure, which they consider sufficient to ensure continuity of activities. Despite a downturn in hospitality trading due to the cost of living crisis, the trustees confirm adequate resources for the foreseeable future with no material uncertainties regarding going concern. Its FY2024 accounts were audited by Moore Kingston Smith LLP.