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2022-12-31-accounts

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

Registered number: 02713410 Charity number: 1011552

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS)) (A company limited by guarantee)

CONTENTS
Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6 - 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 24

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees

R Van Den Abbeele, President T S Almansouri, Vice President P Rozhkov, 2nd Vice President R I Paterson, Honorary Treasurer K V Nielsen (resigned 18 October 2022) Ms D Sotiriadi Ms E Strydom P L Szekeres P DePace, President Emeritus (resigned 18 October 2022) B J Cooper (appointed 28 November 2022) J R Martinez (appointed 28 November 2022) Professor C Sherrington (appointed 28 November 2022)

Company registered number

02713410

Charity registered number

1011552

Registered office

Buckinghamshire College Group, Aylesbury Campus, Oxford Road, Aylesbury, Buckinghamshire, HP21 8PD

Chief executive officer

C Hooper

Accountants

Hillier Hopkins LLP, Radius House, 51 Clarendon Road, Watford, Herts, WD17 1HP

Page 1

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report together with the financial statements of the company for the year 1 January 2022 to 31 December 2022. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (2019).

Please note these accounts are only related to IWAS activities as the merger with CPISRA was finalised in March 2023.

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

Objectives and Activities

a. POLICIES AND OBJECTIVES

In setting objectives and planning for activities, the Trustees have given due consideration to the general guidance published by the Charity Commission relating to public benefit.

The principal activities of IWAS as an incorporated charity, are the development and promotion of sporting opportunities for persons with a physical impairment through the IWAS World Games programme and the governance and management of Wheelchair Fencing and Powerchair Hockey.

b. ACTIVITIES FOR ACHIEVING OBJECTIVES

Since our formation in 1952, IWAS has been the leader of initiatives to develop sport for persons with physical impairments to improve their quality of life. We have never lost sight of our principles or who we are, and this is firmly encapsulated in our Values: Sportsmanship, Unity, Respect and Friendship

Amongst our achievements we list

c. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT

After more than two years of disruption to the IWAS, IWAS Wheelchair Fencing and IWAS Powerchair Hockey, the calendar returned to full strength in 2022 with a packed schedule of competitions.

Achievements and performance

a. REVIEW OF ACTIVITIES

The Federation is reporting for the seventeenth year as IWAS.

In 2022, the organisation received a total income of £914,428 (2021: £289,185) and ran a net surplus of £341,701 (2021: surplus of £55,426).

Page 2

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2022

IWAS 2022 REVIEW

The IWAS World Games took place in Vila Real De Santo Antonio, Portugal, in November – the first World Games since 2019. More than 500 athletes from 30 countries competed in three sports – athletics, swimming and powerlifting. The latter appeared on the programme for the first time since 2011.

In wheelchair fencing, five World Cups, the under 23s World Championships, Americas and European Championships were held. As well as the traditional host countries, Thailand also joined the sport’s calendar, staging its first World Cup in May. Other World Cup venues included Hungary and Italy.

Brazil continued to lead the development of the sport in the Americas, hosting the biggest ever regional Championships, a World Cup and youth World Championships whilst Poland welcomed fencers for the Euros and a World Cup.

As well as high level competitions, the IWAS Wheelchair Fencing Academy was staged in India attracting trainee classifiers, referees, coaches and athletes from Asia and beyond. Two satellite competitions in France and Austria also contributed towards the year’s development activities for new athletes.

In Powerchair Hockey Denmark emerged as the victors from the 2022 World Championships in Sursee, Switzerland.

On the organisational side, the staff team continued as before with the addition of an events coordinator to cover maternity leave and working ever more closely with the International Cerebral Palsy Sport and Recreation Association - CPISRA.

Board meetings and sport executive committees continued to meet online but there was one crucial in-person gathering held in May 2022 in Iran.

During the IWAS World Games, the IWAS and CPISRA membership held their respective General Assemblies where the merger of the two organisations was ratified by the members of CPISRA becoming members of IWAS to form a unified organisation under the status of IWAS. This rubber stamp brought an end to the intense discussions held over the past 10 plus years and in 2023, the new name – World Abilitysport – will be presented.

Financial review

a. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Executive Board recognises its obligation to conduct an annual review of the major risks to which the charity is exposed.

b. RESERVES POLICY

The Directors have considered the Reserves position and are satisfied that the level of reserves is appropriate and sufficient to meet IWAS's immediate funding and working capital requirements. The level of reserves required differs in the cycle between Paralympic and non- Paralympic years.

Page 3

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management

a. CONSTITUTION

The company is registered as a charitable company limited by guarantee and was set up by a Trust deed.

The company is constituted under a Trust deed and is a registered charity number 1011552

The company is registered as a charitable company limited by guarantee and is constituted under its Memorandum and Articles as amended on 1 October 2015, 2 December 2017 and 28 November 2022.

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The Directors of the Company, who are also Trustees for the purposes of charity law under the company’s Memorandum and Articles of Association (Constitution), are known as the members of the Executive Board.

The Executive Board is elected every 4 (four) years in the year following the Summer Paralympic Games. The Secretary General notified the membership and made a call for motions and mandates in accordance with timelines prescribed in the Federation’s Constitution (Memorandum & Articles of Association and Internal Regulations).

The Charity’s focus is to provide international development and sporting opportunity for persons with physical impairments. As such, the Executive Board members seek to ensure that the needs of this group are reflected through the diversity of the Trustees, with all members having a background in one or more aspects of sport governance and/or management and currently four of these additionally are ex athletes.

The personal and business skills of Executive Board members are taken into account when allocating portfolio/job descriptions. An annual assessment of EB members’ performance is undertaken.

c. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The Executive Board meet at least once a year face to face, with interim updates supplied by the CEO and President. The Executive Board is responsible for the governance of the Federation including strategic direction and policy of the Charity and is answerable to the General Assembly of Nations in this respect.

The IWAS General Assembly is held every 2 (two) years in un-even years.

Due to the continuation of restrictions on travel the membership was lobbied on the postponement of the 2021 IWAS General Assembly and Elections, which took place on 28 November 2022 in Monte Gordo, Portugal.

Plans for future periods

a. FUTURE DEVELOPMENTS

The new organisation, World Abilitysport, will become the world’s leading organisation for the development of sports for people with physical impairments with a sharp focus remaining on high performance sports opportunities and development and adding a new dimension following the combination of recreational activities with IWAS sports programmes.

Page 4

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2022

This report was approved by the Trustees, on

and signed on their behalf by:

R I Paterson, Honorary Treasurer

Date: 30-08-2023 | 04:54 PDT

Page 5

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS)) (the 'company')

I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2022.

This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

Page 6

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2022

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

01-09-2023 | 11:15 BST Dated:

Neal Carter ACA

HILLIER HOPKINS LLP

Chartered Accountants

Radius House 51 Clarendon Road Watford Herts WD17 1HP

Page 7

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
funds
Note
2022
£
INCOME FROM:
Donations and legacies
2
6,000
Charitable activities
3
818,914
Investments
4
974
TOTAL INCOME
825,888
EXPENDITURE ON:
Raising funds
21,443
Charitable activities
5,6,7
476,720
TOTAL EXPENDITURE
8
498,163
NET INCOME BEFORE OTHER
RECOGNISED GAINS AND LOSSES
327,725
NET MOVEMENT IN FUNDS
327,725
RECONCILIATION OF FUNDS:
Total funds brought forward
224,493
TOTAL FUNDS CARRIED FORWARD
552,218		 Restricted
funds
2022
£
88,540
-
-
88,540
-
74,564
74,564
13,976
13,976
57,346
71,322		 Total
funds
2022
£
94,540
818,914
974
914,428
21,443
551,284
572,727
341,701
341,701
281,839
623,540		 Total
funds
2021
£
67,335
221,828
22
289,185
14,712
219,047
233,759
55,426
55,426
226,413
281,839

The notes on pages 11 to 24 form part of these financial statements.

Page 8

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee) REGISTERED NUMBER: 02713410

BALANCE SHEET AS AT 31 DECEMBER 2022

Note
FIXED ASSETS
Tangible assets
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
13
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Restricted funds
14
Unrestricted funds
14
TOTAL FUNDS		 £
16,248
634,491
650,739
(27,578)		 2022
£
379
623,161
623,540
71,322
552,218
623,540		 £
24,953
298,661
323,614
(42,235)		 2021
£
460
281,379
281,839
57,346
224,493
281,839

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

30-08-2023 | 04:54 PDT The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf, by:

R I Paterson, Honorary Treasurer Date 30-08-2023 | 04:54 PDT

The notes on pages 11 to 24 form part of these financial statements.

Page 9

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Cash flows from operating activities
Net cash provided by/(used in) operating activities
16
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
17		 2022
£
335,830
335,830
298,661
634,491		 2021
£
(28,604)
(28,604)
327,265
298,661

The notes on pages 11 to 24 form part of these financial statements.

Page 10

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with 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) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

World Abilitysport Federation Ltd (formerly known as International Wheelchair and Amputee Sports Federation (IWAS)) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

1.3 Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

1.4 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 11

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES (continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

1.6 Tangible fixed assets and depreciation

All assets costing more than £250 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

1.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

Page 12

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES (continued)

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation.

1.11 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.12 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of financial activities incorporating income and expenditure account.

1.13 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities incorporating income and expenditure account over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities incorporating income and expenditure account as the related expenditure is incurred.

1.14 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Page 13

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES (continued)

1.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. INCOME FROM DONATIONS AND LEGACIES

Unrestricted
funds
2022
£
Donations
6,000
Grants
-
Coronavirus Job Retention Scheme grant
-
Total donations and legacies
6,000
Total 2021
18,792		 Restricted
funds
2022
£
-
88,540
-
88,540
48,543		 Total
funds
2022
£
6,000
88,540
-
94,540
67,335		 Total
funds
2021
£
2,325
48,543
16,467
67,335

3. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
funds
2022
£
Membership Services and Capitation Fees
177,240
Executive Services
4,455
IWAS World games income
637,219
818,914
Total 2021
216,145		 Restricted
funds
2022
£
-
-
-
-
5,683		 Total
funds
2022
£
177,240
4,455
637,219
818,914
221,828		 Total
funds
2021
£
121,979
-
99,849
221,828

Page 14

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

4. INVESTMENT INCOME

INVESTMENT INCOME
Unrestricted
funds
2022
£
Interest received
974
Total 2021
22		 Restricted
funds
2022
£
-
-		 Total
funds
2022
£
974
22		 Total
funds
2021
£
22

5. DIRECT COSTS

Membership
Services
£
Communications
596
Travel
-
Website and Membership Management system
1,482
Office Costs (including rent)
4,091
World Games expenses
-
Powerchair Hockey
-
Wheelchair Fencing
-
Paralympic Games
-
Insurance
-
Training
-
Sundry
-
Wages and salaries
9,161
National insurance
(3,600)
Pension cost
2,448
Depreciation
91
14,269
Total 2021
14,573		 Sport
Services
I
£
-
-
-
-
302,021
-
-
-
-
-
-
53,397
-
-
-
355,418
72,356		 WAS Sport
£
-
274
-
-
1,082
2,444
102,670
-
3,780
-
5,491
26,699
-
-
-
142,440
92,694

Page 15

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

5. DIRECT COSTS (continued)

Communications
Travel
Website and Membership Management system
Office Costs (including rent)
World Games expenses
Powerchair Hockey
Wheelchair Fencing
Paralympic Games
Insurance
Training
Sundry
Wages and salaries
National insurance
Pension cost
Depreciation
Total 2021		 IPC
Services
£
-
-
-
-
-
-
-
-
-
-
3,316
10,679
-
-
-
13,995
16,527		 Total
2022
£
596
274
1,482
4,091
303,103
2,444
102,670
-
3,780
-
8,807
99,936
(3,600)
2,448
91
526,122
196,150		 Total
2021
£
859
23,900
1,722
12,796
2,222
516
33,895
2,789
3,615
66
2,412
105,477
3,242
2,529
110
196,150

6. SUPPORT COSTS

Travel
Bank charges
Exchange rate
variances
Sundry
Wages and
salaries
National
insurance
Total 2021		 Sport
Services
£
-
-
3,169
419
-
-
3,588
3,238		 Executive
Services
£
1,316
-
-
-
8,010
-
9,326
11,454		 Finance
Services
£
-
711
-
119
-
-
830
823		 Total
2022
£
1,316
711
3,169
538
8,010
-
13,744
15,515		 Total
2021
£
2,434
496
3,238
327
5,780
3,240
15,515

Page 16

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. SUPPORT COSTS (continued)

During the year ended 31 December 2022, the company incurred the following Governance costs:

£ 3,100 (2021 - £2,725) included within the table above in respect of Independent Examiner's fees

7. GOVERNANCE COSTS

Unrestricted
funds
2022
£
Independent Examination fees
3,600
Accountancy & Bookkeeping
1,080
Executive Board Meetings
6,738
11,418		 Restricted
funds
2022
£
-
-
-
-		 Total
funds
2022
£
3,600
1,080
6,738
11,418		 Total
funds
2021
£
3,225
1,580
2,577
7,382

8. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE

Expenditure on fundraising
trading
Cost of raising funds
Membership Services
Sport Services
IWAS Sport
IPC Services
Executive Services
Finance Services
Charitable activities
Expenditure on
governance
Total 2021		 Staff costs
Depreciation
Other costs
2022
£
2022
£
2022
£
-
-
21,443
-
-
21,443
8,009
91
6,169
53,397
-
305,609
26,699
-
115,741
10,679
-
3,316
8,010
-
1,316
-
-
830
106,794
91
432,981
-
-
11,418
106,794
91
465,842
120,268
110
113,381		 Total
2022
£
21,443
21,443
14,269
359,006
142,440
13,995
9,326
830
539,866
11,418
572,727
233,759		 Total
2021
£
14,712
14,712
14,573
75,594
92,694
16,527
11,454
823
211,665
7,382
233,759

Page 17

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. NET INCOME/(EXPENDITURE)

This is stated after charging:

2022 2021
£ £
Depreciation of tangible fixed assets:
- owned by the charity 81 110
Independent Examination fees 3,600 3,225

During the year, no Trustees received any remuneration (2021 - £NIL). During the year, no Trustees received any benefits in kind (2021 - £NIL). During the year, no Trustees received any reimbursement of expenses (2021 - £NIL).

10. STAFF COSTS

Staff costs were as follows:

Wages and salaries
Social security costs
Other pension costs		 2022
£
107,946
(3,600)
2,448
106,794		 2021
£
111,257
6,482
2,529
120,268

The average number of persons employed by the company during the year was as follows:

2022 2021
No. No.
Employees 4 4

No employee received remuneration amounting to more than £60,000 in either year.

During the year, the charity's key management personnel received remuneration of £45,715 (2021: £59,014).

Page 18

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

11. TANGIBLE FIXED ASSETS

Cost
At 1 January 2022 and 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021
12.
DEBTORS
Other debtors
Prepayments and accrued income
13.
CREDITORS: Amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 Office
equipment
£
12,217
12,217
-
12,217
-
-

 Office
equipment
£
12,217
12,217
-
12,217
-
-

 Computer
equipment
£
13,442
12,982
81
13,063
379
460
2022
£
16,248
-
16,248
2022
£
3,708
1,640
643
21,587
27,578		 Total
£
25,659
25,199
81
25,280
379
460
2021
£
4,432
20,521
24,953
2021
£
2,305
-
546
39,384
42,235

Page 19

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

13. CREDITORS: Amounts falling due within one year (continued)

Deferred income
Deferred income at 1 January 2022
Resources deferred during the year
Amounts released from previous years
Deferred income at 31 December 2022		 £
25,014
660
(25,014)
660

Page 20

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

14. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Unrestricted funds
General Funds - all funds
Restricted funds
Dr Nakamura Fund
Special Fund
Wheelchair Fencing Fund
Powerchair Hockey Fund
IPC Grant
Total of funds
STATEMENT OF FUNDS - PRIOR YEAR
General Funds - all funds
Restricted funds
Dr Nakamura Fund
Special Fund
Covid Recovery Grant
Wheelchair Fencing Fund
Powerchair Hockey Fund
Tokyo 2020
IPC Grant
Balance at
1 January
2021
£
188,387
1,863
2,318
-
11,935
-
(5,827)
27,737
38,026		 Balance at
1 January
2022
£
224,493
1,863
971
38,479
3,292
12,741
57,346
281,839
Income
£
233,175
-
-
12,639
7,467
-
20,521
15,383
56,010		 Income Expenditure
Balance at
31 December
2022
£
£
£
825,888
(498,163)
552,218
-
-
1,863
-
-
971
67,320
(66,329)
39,470
-
-
3,292
21,220
(8,235)
25,726
88,540
(74,564)
71,322
914,428
(572,727)
623,540
Expenditure
Transfers
in/out
Balance at
31 December
2021
£
£
£
(169,186)
(27,883)
224,493
-
-
1,863
(1,347)
-
971
(12,639)
-
-
(5,514)
24,591
38,479
-
3,292
3,292
(29,686)
14,992
-
(15,387)
(14,992)
12,741
(64,573)
27,883
57,346

Page 21

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

SUMMARY OF FUNDS - CURRENT YEAR

General funds
Restricted funds		 Balance at
1 January
2022
£
224,493
57,346
281,839		 Income
Expenditure
Balance at
31 December
2022
£
£
£
825,888
(498,163)
552,218
88,540
(74,564)
71,322
914,428
(572,727)
623,540

SUMMARY OF FUNDS - PRIOR YEAR

General funds
Restricted funds		 Balance at
1 January
2021
£
188,387
38,026
226,413		 Income
Expenditure
£
£
233,175
(169,186)
56,010
(64,573)
289,185
(233,759)		 Transfers
in/out
Balance at
31 December
2021
£
£
(27,883)
224,493
27,883
57,346
-
281,839

General Fund

The General Fund represents the unrestricted funds including the funds of the sports which the Board and Sport Committees are free to use in accordance with the charitable objectives.

Restricted Funds

Dr Nakamura's Fund

Access to Dr Nakamura's Fund is only available to members in Far Eastern countries. International Wheelchair and Amputee Sports Federation hold the fund in trust for the members. The fund is held under ISMWSF's original constitution.

Special Fund

The Special Fund was established for the purpose of underwriting the expenses of travelling to and holding international meetings. This fund is held under the ISMWSF's original constitution.

Wheelchair Fencing Fund

These funds are restricted funds in the wheelchair fencing bank account that is the balance of historic grants received to be spent on Paralympic related activities.

Tokyo 2020

Prior to each Paralympic Games IWAS receives an amount from the organisers that has to be used to book all flights for international delegates attending the games. The balance of this should be zero at the end of the year of the Paralympic Games.

Covid Recovery Grant

This was a grant received in the year that enabled IWAS to provide urgent funds where required and

Page 22

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

14. STATEMENT OF FUNDS (continued)

contributed towards the costs of running the charity when the other income was restricted due to the pandemic.

IPC Grant

All sports on the Paralympic programme receive a grant from the International Paralympic Committee every year. These funds are exclusively for the development of Wheelchair Fencing around the world.

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Unrestricted
funds
2022
£
Tangible fixed assets
379
Current assets
579,417
Creditors due within one year
(27,578)
552,218
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Unrestricted
funds
2021
£
Tangible fixed assets
460
Current assets
266,268
Creditors due within one year
(42,235)
224,493
16.
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW
ACTIVITIES
Net income for the year (as per Statement of Financial Activities)
Adjustment for:
Depreciation charges
Decrease/(increase) in debtors
Decrease in creditors
Net cash provided by/(used in) operating activities		 Unrestricted
funds
2022
£
Tangible fixed assets
379
Current assets
579,417
Creditors due within one year
(27,578)
552,218
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Unrestricted
funds
2021
£
Tangible fixed assets
460
Current assets
266,268
Creditors due within one year
(42,235)
224,493
16.
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW
ACTIVITIES
Net income for the year (as per Statement of Financial Activities)
Adjustment for:
Depreciation charges
Decrease/(increase) in debtors
Decrease in creditors
Net cash provided by/(used in) operating activities

Page 23

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD (FORMERLY KNOWN AS INTERNATIONAL WHEELCHAIR AND AMPUTEE SPORTS FEDERATION (IWAS))

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

17. ANALYSIS OF CASH AND CASH EQUIVALENTS

ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
Total		 2022
£
634,491
634,491		 2021
£
298,661
298,661

18. PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents the contributions payable by the charity to the fund and amounted to £2,448 (2021- £2,529).

19. CONTROLLING PARTY

There is no controlling party.

Page 24

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

WORLD ABILITYSPORT FEDERATION LTD

To: Hillier Hopkins LLP Radius House 51 Clarendon Road Watford Herts WD17 1HP

Dear Sirs

The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charitable company’s financial statements for the year ended 31 December 2022. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief.

General

Assets and liabilities

Accounting estimates

DocuSign Envelope ID: ED530EB8-CF56-4D54-9ABD-C836A7F81631

Loans and arrangements

Legal claims

Laws and regulations

Related parties

Subsequent events

Going concern

Grants and donations

Yours faithfully

Robert Paterson

.............................................................................................................................. Signed on behalf of the Board of Trustees 30-08-2023 | 04:54 PDT Date