Contents
1Citation, commencement and interpretation#
(1)These Regulations may be cited as the Registration of Clubs (Accounts) Regulations (Northern Ireland) 2022 and shall come into operation on 1st April 2022.
(2)In these Regulations –• “address” means, in relation to an individual, the full postal address of the place where that individual is ordinarily resident or, in relation to a business, the place where the business is carried on;• “annual statement of accounts” means accruals accounts or receipts and payments of accounts;• “club” means any registered club and any club which may have served notice under paragraph 1(1)(a) of Schedule 2 to the Order;• “committee” means the committee of management or governing body of the club;• “gross income” means the total income recorded from all sources;• “the Order” means the Registration of Clubs (Northern Ireland) Order 1996;• “record” includes any note, memorandum, till roll, annotated sales sheet, invoice, delivery note, docket, statement or other document completed in whole or in part in writing, typescript or printed.
2Vouchers#
(4)In this regulation “Vouchers” means –
(b)all banking records including pay-in slip counterfoils, BACS or other electronic banking printouts, cheques (if returned to the club), other banking correspondence including statements;
(c)all member’s lists including paid/unpaid subscription records;
(d)all till rolls, sale sheets and stock records;
(e)all leases, mortgages and title deeds relating to land or buildings owned/leased by or on behalf of the club;
(f)all annual statement of accounts, minutes of the committee made in accordance with the Order or these Regulations; and
(g)all assessments, notices and demands in respect of rates, income tax, corporation tax, VAT, National Insurance and original copies of all correspondence with government bodies/departments.
3System of Control#
The Department directs that a club shall establish and maintain a system of control of accounts, cash holdings, and all income, expenditure and remittances in such form and manner as set out in Schedule 1.
4Annual Statement of Accounts#
(1)Within 3 months of the end of its financial year –
(a)a club, other than a small or medium club, shall:
(i)prepare an accruals account as specified in Part 1 of Schedule 2; and
(ii)cause such accruals account to be audited by an auditor.
(b)a medium club, shall:
(i)prepare an accruals account as specified in Part 1 of Schedule 2; and
(ii)cause such accruals account to be audited by an auditor or examined by an independent examiner.
(c)a small club shall:
(i)prepare an accruals account as specified in Part 1 of Schedule 2 or a receipts and payments account as specified in Part 2 of Schedule 2; and
(ii)where it has prepared an accruals account, cause such account to be audited by an auditor or examined by an independent examiner; or
(iii)where it has prepared a receipts and payments account, cause such account to be examined by an independent examiner.
(2)In this Regulation –• “medium club” means a club which in any financial year has a gross income that exceeds £300,000 and is less than £500,000 and is not required by its governing document to have a formal audit of its annual statement of accounts;• “small club” means a club which in any financial year has a gross income that does not exceed £300,000 and is not required by law or its governing document to have a formal audit of its annual statement of accounts.
5Auditor#
(1)An auditor under Regulation 4(1) refers to a person who is:
(a)an independent person;
(b)eligible for appointment as a statutory auditor under Part 42 of the Companies Act 2006;
(c)a member of a body specified under paragraph (2); and
(d)under the rules of that body eligible for appointment as auditor of a club.
(2)The following bodies are specified for the purposes of (1)(c):
(a)the Institute of Chartered Accountants in England and Wales;
(b)the Institute of Chartered Accountants of Scotland;
(c)the Institute of Chartered Accountants in Ireland;
(d)the Association of Chartered Certified Accountants;
(e)the Association of Authorised Public Accountants;
(f)the Association of Accounting Technicians;
(g)the Association of International Accountants;
(h)the Chartered Institute of Management Accountants;
(i)the Institute of Chartered Secretaries and Administrators;
(j)the Chartered Institute of Public Finance and Accountancy;
(k)the Institute of Financial Accountants;
(l)the Certified Public Accountants Association;
(m)the Institute of Certified Public Accountants in Ireland.
(3)An audit shall be conducted in accordance with International Standards on Auditing (UK and Ireland) and comply with the Financial Reporting Council’s Ethical Standards for Auditors.
(4)In this Regulation “independent person” means a person who is not, and has not in the preceding six years been an official, member, or an employee of the club and who the committee are satisfied has the requisite skills and knowledge to properly perform the relevant duties.
6Independent Examiner#
(1)The Department directs that the selection of a person for appointment as an independent examiner be in such form and manner as set out in Schedule 3.
(2)An independent examiner shall examine an annual statement of accounts in such manner as set out in Schedule 4.
7Revocation#
The Registration of Clubs (Accounts) Regulations (Northern Ireland) 1997 are hereby revoked.
Schedule 1 · Systems of Control
Schedule 2 · Form and content of annual statement of accounts
Part 1 · Accruals account
General Rules
(1)An accruals account shall consist of:
(a)a statement of financial activities showing the total incoming resources and expenditure of the club during the relevant financial year;
(b)a statement of financial position showing the total assets and liabilities of the club as at the end of the relevant financial year; and
(c)notes to the accounts.
(2)The accruals account shall be prepared in accordance with the following principles:
(a)the statement of income and expenditure shall give a true and fair view of the total incoming resources and expenditure in the relevant financial year;
(b)the statement of financial position shall give a true and fair view of the state of affairs of the club at the end of the relevant financial year;
(c)the accruals account shall include comparative figures for the prior year accounting period if one exists; and
(d)the accruals account shall be prepared in accordance with the methods and principles set out in UK Generally Accepted Accounting Principles (UKGAAP).
(3)The statement of financial position shall:
(a)be signed by at least two members of the committee, each of whom has been authorised to do so; and
(b)specify the date on which the statement of accounts of which the statement of financial position forms part, was approved by the committee.
(4)The notes to accounts shall:
(a)state the measurement basis (or bases) used in preparing the accounts and the accounting policies adopted in the preparation of the accounts, and a statement as to the consistent ongoing application of those policies or, for a change in the accounting policies adopted and applied, a statement in relation to the change; and
(b)include any additional information which may reasonably assist the user to understand the statement of accounts.
Part 2 · Receipts and payments account
General Rules
(1)The receipts and payments account shall consist of:
(a)an account showing an analysis of all incoming and outgoing cash for the year;
(b)a statement of assets and liabilities to include details of the club’s main assets and liabilities at the end of the year, including the cash balances at the year-end; and
(c)notes, where required to provide further breakdown of receipts and payments.
(2)The account should summarise the movement of cash into and out of the club during the financial year.
(3)The receipts and payments account shall give sufficient detail to allow the reader to see the main transactions of the club and shall be prepared in a consistent way from year to year.
(4)The receipts and payments account shall include comparative figures for the prior year accounting period if one exists.
(5)Where valuations are provided in the statement of assets and liabilities, they should be relevant, reliable and understandable.
(6)The statement of assets and liabilities shall:
(a)be signed by at least two members of the committee, each of whom has been authorised to do so; and
(b)specify the date on which the receipts and payments account, of which the statement of assets and liabilities forms part, was approved by the committee.
Schedule 3
Schedule 4
(1)An independent examiner who has carried out an independent examination shall send a report to the committee that includes –
(b)a sign-off by the independent examiner specifying any relevant professional qualifications or details of membership of relevant professional bodies;
(c)the date on which the independent examination has been carried out;
(d)a clear notation that specifies the financial year in respect of which the accounts to which it relates have been prepared;
(e)a statement to the effect that it is a report in respect of an examination carried out under Article 40(1)(d) of the Order; and
(f)whether or not any matter has come to the independent examiner’s attention in connection with the examination which gives the independent examiner reasonable cause to believe in any material respect that:
(i)the annual statement of accounts have not been prepared which accord with the accounting records and comply with Regulation 4;
(iii)the statement of accounts do not agree with those vouchers;
(iv)if there has been any material expenditure or action which appears not to be in accordance with the constitution of the club;
Contains public sector information licensed under the Open Government Licence v3.0.