Forthill Community Sports Club
Latest income
£115k
Latest spending
£285k
Accounts read
FY2023
Financial health, per FY2023 accounts
The accounts state that the charity reported a net outgoing resource of £169,412 for the year ended 31 March 2023, resulting in a negative free reserves position of £(80,416). The trustees acknowledge that this lack of free reserves, combined with planned capital expenditure, creates a challenging environment and that the charity's continuation is dependent on bank support.
What the accounts disclose
Reserves position: below the charity's own stated policy
“The free reserves currently held excluding fixed assets not readily available to be spent at the year end were £(80,416) therefore not does not meet our policy” — page 3
Per FY2023 accounts as filed with OSCR.
Going concern: doubt noted
“The Trustees acknowledge that the continuation of the charity is dependent on the support of the charity's bankers and on the continued use of the facilities by the associated clubs.” — page 11
Per FY2023 accounts as filed with OSCR.
Related-party transaction: Rental income from subsidiary Forthill SC Limited
“During the year the charity received rental payments of £12,000 (2022 - £12,000) from its subsidiary company Forthill SC Limited. During the year the charity advanced a further £29,473 (2022 - £13,748) and received repayments of £30,623 (2022 - £16,063) to its subsidiary. At the year end, the charity was due to receive £95,957 (2022 - £96,807) from Forthill SC Limited.” — page 19
Per FY2023 accounts as filed with OSCR.