Solent Area Basketball Association
Report of the Treasurer and Audited Financial Statements
For the Year Ended 31st May 2014
Page 1
Solent Area Basketball Association
Report and Accounts
Contents
Page
Organisation Information
3
Treasurer's Report
4
Auditor's Statement
5
Abbreviated Profit and Loss Account
6
Balance Sheet
7
Notes to the Accounts
8-9
Full Profit and Loss Account
10
Page 2
Solent Area Basketball Association
Organisation Information
Executive Committee
Mr M Vane
Chairman
Mr M Byrne
Vice Chairman
Mr A Langland
Mrs S Rowlands
Treasurer
Mr J Langland
Mr C Fullbrook
Mr R Styants
Correspondence Address
General Secretary
Competitions Secretary
Registrar
Development Secretary
Mr D Perkins
Mens Divisional Representative
Mr D Senart
Mens Divisional Representative
Mr I Warner
Mens Divisional Representative
Miss J Jarvis
Womens Divisional Representative
Solent Area Basketball Association
c/o Mrs S Rowlands
22 Templemere
Fareham
P014 3AP
Page 3
Solent Area Basketball Association
Treasurer's Report
The Treasurer presents their report and accounts for the year ended 31st May 2014.
Principle activities
The principal activities of the organisation in the year under review were to undertake the administration
of basketball and act as the controlling body within the Area on behalf of the English Basketball
Association; to encourage, develop and to promote the game of basketball within the area at all levels; and
to approve and promote competitions within the Area.
The Area is defined as the Isle of Wight, the County of Hampshire (excluding the districts of Basingstoke,
Hart and Rushmoor), the County of Dorset and Salisbury and District within the County of Wiltshire.
Commentary
It should be noted that these accounts do not include any income nor expenditure relating to the Junior
Development League that was organised and run by Solent Area Basketball Association during the year.
This is because this has been accounted for by Solent Kestrels Basketball Club.
It should also be noted that there are a number of EB Registration Income entries included in these
accounts which could not be fully reconciled as they were handled as cash transactions by the Registrar
and no formal records were kept. Due to the Registrar being hospitalised at the time that the accounts
were being finalised the Chairman of Solent Area Basketball Association took the decision to allow the
accounts to be finalised and closed for the year ended 31st May 2014 without a full reconciliation of these
items and that any discrepancies will be rectified in the following year's accounts. These transactions are of
low value and are not material to the statements provided.
On behalf of the Executive Committee:
Mr Andrew J Langland, Trea urer (2013-2014)
Date
7./4../'7.f?...1..':f...... ......... ..... ......................
•••
Page 4
Miss Z M Cridland AccA FMAAT
22 Springfield Avenue
Holbury
Southampton
S045 2LP
Date -
h September 2014
F.A.O The Members of Solent Area Basketball Association (SABA)
Accounts for the year ended
31st May
2014
Scope
The scope of my work was to review the accounts, profit and loss and balance sheet for the year 1st
June 2013 to 31st May 2014 for the not for profit organisation SABA. To sample areas of these
accounts to determine accuracy and completeness, and finally to provide an opinion based on my
work.
Sample
I tested revenues, expenses and areas of the balance sheet by way of sample; testing from accounts
to backup and from backup to accounts. Further analysis was requested from the Treasurer's
accounting package, in the way of general ledger analysis (line by line detail). I can confirm that
during my testing I was able to successfully verify all areas tested.
Opinion
In my opinion the accounts for the year ended 31st May 2014 show a true and fair view. They are a
true reflection of the trading of SABA. I do, however, have to note that, whilst my sample did not
bring to my attention any discrepancies, I was informed that there are entries to the revenue lines
that cannot be substantiated with backup cash receipts. I am under the impression that this would
not be of material value for my opinion to change.
The work carried out above is honorary and will not be chargeable.
If there are any questions relating the above please don't hesitate to contact me on the details
below.
Yours faithfully,
Zoe Cridland AccA FMAAT
Certified Chartered Accountant
[email protected]
07545 376 014
Solent Area Basketball Association
Abbreviated Profit and Loss Account
For the year ended 31st May 2014
Notes
Income
2014
£
10,938.60
Direct Costs
-£
9,145.31
Gross Profit
£
1,793.29
1 -£
1,482.38
-£
1,482.38
2 £
310.91
Interest received and similar income
Interest payable and similar charges
£
£
1.79
Net Profit for financial year
£
312.70
Administration costs
Operating Profit
Page 6
Solent Area Basketball Association
Balance Sheet
as at 31st May 2014
Notes
2014
Fixed Assets
Tangible assets
3 £
788.80
£
788.80
£
£
4 £
£
28.00
7,663.28
5 £
2,682.06
Net Current Assets
£
4,981.22
Total assets less current liabilities
£
5,770.02
£
£
5,457.32
Profit and loss account
Members' Funds
£
5,770.02
Current Assets
Stock
Debtors
Cash at bank and in hand
927.60
6,707 .68
Creditors
Amounts falling due within one year
Capital and Reserves
Retained Earnings
312.70
7/4./2:;),1.Y,......................
The Financial Statements were approved on ...
and were signe
half of the Executive Committee by
-.............................. ............ ................................. Mr Andrew J Langland, Treasurer (2013-14)
Page 7
Solent Area Basketball Association
Notes to the Accounts
For the year ended 31st May 2014
1. Accounti ng Policies
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
- three years
Stocks
Stocks are valued at the lower of cost and net realisable value
2014
2. Operating Profit
£
310.91
£
394.40
£
394.40
This is stated after charging:
Depreciation of owned fixed assets
3. Tangible Fixed Assets
Computer Equipment
Cost
At 1st June 2013
Disposals
£
£
£
At 31st May 2014
£
Totals
1,183.20
£
£
£
1,183.20
1,183.20
£
1,183.20
Charge for Year
Eliminated on disposal
£
£
£
394.40
£
£
£
394.40
At 31st May 2014
£
394.40
£
394.40
Net Book Value
At 31st May 2014
£
788.80
£
788.80
At 31st May 2013
£
Additions
Depreciation
At 1st June 2013
Page 8
£
Solent Area Basketball Association
Notes to the Accounts
For the year ended 31st May 2014
2014
4. Cash at bank and in hand
Lloyds Current Account
Lloyds Deposit Account
Undeposited Funds
Treasurer Cash
Competitions Secretary Cash
Registrar Cash
£
£
£
£
£
£
£
371.50
5,705.93
442.00
9.25
15.00
164.00
6,707.68
£
£
£
£
774.00
858.06
1,050.00
5. Creditors amounts falling due within one year
Trade Creditors
Accruals
Sureties Held
Page 9
2,682.06
Solent Area Basketball Association
Full Profit and Loss Account
For the year ended 31st May 2014
2014
Income
EB Registration Income
£
£
£
£
6,956.00
2,025.00
1,400.00
557.60
£
10,938.60
£
£
£
£
4,914.00
2,282.81
1,402.00
546.50
£
9,145.31
Gross Profit
£
1,793.29
Other Income
Bank Account Interest
£
1.79
£
1,795.08
£
£
£
£
612 .00
425.98
394.40
50.00
£
1,482.38
£
312.70
Competition Entry Fees
Technical Course Income
EB Rebates
Direct Costs
EB Registration Costs
Competition Costs
Technical Course Expenses
Development Costs
Administration Costs
IT Expenses
Committee Expenses
Depreciation
EB Affiliation
Net Profit for financial year
Page 10