Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
**Registered number: 02713410 Charity number: 1011552**
# **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD**
## **(A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Company, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 6|
|**Independent Examiner's Report**|7 - 8|
|**Statement of Financial Activities**|9|
|**Balance Sheet**|10 - 11|
|**Notes to the Financial Statements**|12 - 26|
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Trustees**|R Van Den Abbeele, President|
|---|---|
||T S A Alkadim (Alnuaimi), Vice President|
||K Sotiriadi|
||E Strydom|
||P L Szekeres|
||L Apine|
||M Kongruang|
||I J Donald, Honorary Treasurer (appointed 23 January 2024)|
||B J Cooper (resigned 29 May 2024)|
|**Company registered**
**number**
02713410
**Charity registered**
**number**
1011552
**Registered office**
Aylesbury College
Oxford Road
Aylesbury
Buckinghamshire
HP21 8PD
**Chief executive officer**
C Hooper
**Accountants**
Hillier Hopkins LLP
Chartered Accountants
249 Silbury Boulevard
Milton Keynes
Buckinghamshire
MK9 1NA||
Page 1
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
The Trustees present their annual report together with the financial statements of the World Abilitysport Federation Ltd for the 1 January 2024 to 31 December 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable 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 (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **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 World Abilitysport as an incorporated charity, are the development and promotion of sporting opportunities for persons with a physical impairment through the World Abilitysport Games programme and the governance and management of Para Dance Sport, Para Fencing and Powerchair Hockey.
## **b. Activities undertaken to achieve objectives**
Since our formation in 1952 as the International Stoke Mandeville Games Federation (ISMGF) (later ISMWSF then IWAS) and more recently with the merger with Cerebral Palsy International Sports and Recreation Association (CPISRA), and as founders of the Paralympic Games, World Abilitysport upholds its values to provide fair and honourable competition opportunities to promote the sporting achievements of athletes. As an athlete centred organisation, World Abilitysport has athletes’ interests and priorities at the heart of its objectives. This necessitates acceptance of the fundamental values of honesty, human rights, fairness, justice, non-discrimination and personal integrity.
Amongst our achievements we list
- Founders of the Paralympic movement and Paralympic Games.
- Founding member of the International Paralympic Committee (IPC).
- Originator of the renowned International Stoke Mandeville model of sport for persons with a physical impairment.
- Creators of the international pathway for athletes across all sports from grass-roots to elite.
## **c. Main activities undertaken to further the Company's purposes for the public benefit**
After the disruption of the last few years World Abilitysport and the sports it governs, Para Dance Sport, Para Fencing and Powerchair Hockey, again has a full calendar of events that is growing at a satisfactory pace and the World Abilitysport Games Programme is expanding in accordance with our aims and objectives.
Page 2
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD**
**(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Objectives and activities (continued)**
## **Achievements and performance**
## **a. World Abilitysport 2024 - Year in review**
Following on from the launch of the new brand and election of the first World Abilitysport Board at the end of 2023, 2024 started strong with the finalisation of a partnership with Virtus, the International Federation for Athletes with Intellectual Impairments and the International Blind Sports Federation (IBSA).
Joining forces officially with the other founding members of the Paralympic Movement by sharing knowledge and resources has already yielded results for Para athletes and Members from around the world. This includes the successful delivery of a joint clean sport educational campaign.
Strengthening the World Abilitysport community further, a Memorandum of Understanding was signed with World Disability Billiards and Snooker in 2024. Throughout the year the two bodies worked together to increase sporting opportunities for physically impaired athletes, who will also benefit from the World Abilitysport Games programme.
Planning for the future and offering more athletes the chance to compete under the World Abilitysport flag was also a central theme in 2024 with the announcement of a milestone partnership with the National Paralympic Committee of Türkiye. As a result the first World Abilitysport Beach Games will be held in 2025 and the next edition of the Youth Games in 2026, both in the seaside resort of Mersin. Türkiye will also host the 2027 World Abilitysport Games.
Pajulahti, Finland, will host the first Guttmann Games dedicated to the legacy of the father of the Paralympic Movement in 2026. These will be exclusively for sports and events not on the Paralympic programme, increasing World Abilitysport’s impact.
Further host announcements came from more corners of the world with Jakarta, Indonesia, signing-up to stage the 2025 World Abilitysport Games.
Games delivery crowned the year with the latest edition of the Youth Games in Korat, Thailand, in December. Athletics, boccia, powerlifting and table tennis all featured on the programme with Sepak Takraw once again showcased as a demonstration sport. Bangladesh made their Games debut in table tennis as one of 18 countries, whilst boccia’s presence was also a first.
Para fencing experienced an important year with both the build-up to and delivery of the Paris 2024 Paralympic Games. Taking place at the Grand Palais, the sport was the first to sell-out of tickets at both the Paralympics and Olympics. Regional Championships in the Americas, Asia and Europe were delivered as well as three World Cups, all of which acted as qualifiers for the Paralympics. Developing the next generation of fencers was also a key feature of activities with the under 23s World Championships taking place as well as the latest Wheelchair Fencing Academy in Sao Paulo, Brazil. The latter attracted 15 coaches, classification leads and athletes from Africa and the Americas including Namibia, Nigeria, Peru, Cape Verde and Trinidad and Tobago who took part in activities in the sport for the first time.
Powerchair hockey hosted the latest edition of its European Championships in Slagelse, Denmark, with the participation of nearly 200 players, coaches and officials. The Netherlands emerged the victors after a tense final against Germany.
Partnerships were launched with other tournaments such as IN-JET and The Pilsen Powerchair Open to be held in 2025. On the development side the sport delivered referee and classifier courses in Australia and Italy and held the second edition of its International Powerchair Hockey Day.
Page 3
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
# **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Achievements and performance (continued)**
A total of eight competitions, including regional Championships, where held in Para dance sport in 2024 in the first full year of governance under World Abilitysport. A coaching and athlete course was also held in Chinese Taipei with the participation of 20 people. As part of bringing the sport under its banner, a process of reviewing and updating the rules and categories of Para dance sport also got firmly underway in 2024.
Para fencing and powerchair hockey also hosted their latest Sport Congresses in 2024.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company 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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
The Directors have considered the Reserves position and are satisfied that the level of reserves is appropriate and sufficient to meet World Abilitysports’ immediate funding and working capital requirements. The level of reserves required differs in the cycle between Paralympic and non-Paralympic years.
## **c. Financial performance**
In 2024, the organisation received total income of £469,449 (2023: £697,557), and returned a net deficit of £32,973 (2023: surplus £252,621). There were no World Games held in 2024 as it was a Paralympic year, and a deficit had been planned for the year. The Charity’s reserves position remains strong, with net cash balances of £853,217 (2023: £859,403).
Page 4
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
# **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **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 was incorporated on and commenced trading on 11 May 1992.
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. Methods 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 Governing Board.
The Governing Board/Trustees are appointed by election at the General Assembly, and hold office for a term of 4 (four) years, and may be subsequently re-appointed by election for a further term of four years. No Trustee may hold office for more than 12 consecutive years. The CEO 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 Governing 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 three of these additionally are ex athletes.
The personal and business skills of Governing Board members are taken into account when allocating portfolio/job descriptions. An annual assessment of Governing Board members’ performance is undertaken.
Page 5
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
**WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
oF ................................................ BA8F536131E8432... by: **I J Donald** Honorary Treasurer Date: 04-09-2025 | 09:49 BST
Page 6
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
**WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Independent Examiner's Report to the Trustees of World Abilitysport Federation Ltd ('the Company')**
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
## **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 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 [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
Page 7
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
**WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
**INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
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: Dated: 05-09-2025 | 08:55 BST
Neal Carter
ACA
Hillier Hopkins LLP Chartered Accountants 249 Silbury Boulevard Milton Keynes Buckinghamshire MK9 1NA
Page 8
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net (expenditure)/income**
Transfers between funds
14
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2024**
**£**
120,200
-
-
120,200
141,638
141,638
(21,438)
6,789
(14,649)
98,868
(14,649)
84,219|**Unrestricted**
**funds**
**2024**
**£**
121,119
216,567
11,563
349,249
360,784
360,784
(11,535)
(6,789)
(18,324)
777,293
(18,324)
758,969|**Total**
**funds**
**2024**
**£**
241,319
216,567
11,563
469,449
502,422
502,422
(32,973)
-
(32,973)
876,161
(32,973)
843,188|_Total_
_funds_
_2023_
_£_
_259,206_
_429,697_
_8,654_|
|---|---|---|---|---|
|||||_697,557_|
|||||_444,936_|
|||||_444,936_|
|||||_252,621_
_-_|
|||||_252,621_|
|||||_623,540_
_252,621_|
|||||_876,161_|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 12 to 26 form part of these financial statements.
Page 9
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee) REGISTERED NUMBER: 02713410**
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
|**Note**
**Fixed assets**
Tangible assets
11
**Current assets**
Debtors
12
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
14
Unrestricted funds
14
**Total funds**|65,530
853,217
918,747
(77,071)|**2024**
**£**
1,512
1,512
841,676
843,188
843,188
84,219
758,969
843,188|_55,799_
_859,403_
_915,202_
_(41,059)_|_2023_
_£_
_2,018_|
|---|---|---|---|---|
|||||_2,018_
_874,143_|
|||||_876,161_|
||||||
|||||_876,161_|
|||||_98,868_
_777,293_|
||||||
|||||_876,161_|
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
Page 10
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
# **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee) REGISTERED NUMBER: 02713410**
# **BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024**
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
**I J Donald** Honorary Treasurer Date: 04-09-2025 | 09:49 BST
The notes on pages 12 to 26 form part of these financial statements.
Page 11
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
**WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. General information**
World Abilitysport Federation Ltd is a charitable company limited by guarantee incorporated in England and Wales within the United Kingdom. The Company's registered office is Aylesbury College, Oxford Road, Aylesbury, Buckinghamshire, HP21 8PD.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preperation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
World Abilitysport Federation Ltd 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.
## **2.2 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.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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 12
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
**WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.3 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.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.4 Government grants**
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Financial Activities upon the completion of the relevant performance-related conditions. Other grants that are not subject to performance-related conditions are credited to the Statement of Financial Activities as the grant proceeds are received. Grants received prior to the revenue recognition criteria being satisfied are recognised as a liability.
## **2.5 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 institution with whom the funds are deposited.
## **2.6 Tangible fixed assets and depreciation**
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Office equipment - 20% straight line Computer equipment - 33% straight line
Page 13
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.7 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.
## **2.8 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.
## **2.9 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. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## **2.10 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.
## **2.11 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.
The Company contributes to personal pension plans of employees amd the pension charge represents the amounts payable by the company to the plans ins respect of the period.
Page 14
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.12 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.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
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.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. Income from donations and legacies**
|Donations
Grants
Donations
Grants
Other grant income|**Restricted**
**funds**
**2024**
**£**
-
120,200
120,200
_Restricted_
_funds_
_2023_
_£_
_-_
_179,797_
_-_
_179,797_|**Unrestricted**
**funds**
**2024**
**£**
12,503
108,616
121,119
_Unrestricted_
_funds_
_2023_
_£_
_71,477_
_-_
_7,932_
_79,409_|**Total**
**funds**
**2024**
**£**
12,503
228,816
241,319
_Total_
_funds_
_2023_
_£_
_71,477_
_179,797_
_7,932_
_259,206_|
|---|---|---|---|
Page 15
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **4. Income from charitable activities**
|Membership Services and Capitation Fees
Executive Services
World Abilitysport games income
Membership Services and Capitation Fees
Executive Services
World Abilitysport games income|**Unrestricted**
**funds**
**2024**
**£**
162,560
650
53,357
216,567
_Unrestricted_
_funds_
_2023_
_£_
_397,896_
_6,750_
_25,051_
_429,697_||**Total**
**funds**
**2024**
**£**
162,560
650
53,357
216,567
_Total_
_funds_
_2023_
_£_
_397,896_
_6,750_
_25,051_
_429,697_|
|---|---|---|---|
|||||
## **5. Investment income**
|Interest received
Interest received|**Unrestricted**
**funds**
**2024**
**£**
11,563
_Unrestricted_
_funds_
_2023_
_£_
_8,654_|**Total**
**funds**
**2024**
**£**
11,563
_Total_
_funds_
_2023_
_£_
_8,654_|
|---|---|---|
Page 16
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **6. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Membership Services
Sport Services
World Abilitysport Sports
IPC Services
Executive Services
Finance Services
Governance Costs
Membership Services
Sport Services
World Abilitysport Sports
IPC Services
Executive Services
Finance Services
Governance Costs|**Restricted**
**funds**
**2024**
**£**
30,705
-
110,933
-
-
-
-
141,638
_Restricted_
_funds_
_2023_
_£_
_109_
_53_
_158,154_
_-_
_-_
_-_
_-_
_158,316_|**Unrestricted**
**funds**
**2024**
**£**
44,002
187,413
64,899
22,725
18,152
1,610
21,983
360,784
_Unrestricted_
_funds_
_2023_
_£_
_26,373_
_146,123_
_65,592_
_17,730_
_17,521_
_(748)_
_14,029_
_286,620_|**Total**
**2024**
**£**
74,707
187,413
175,832
22,725
18,152
1,610
21,983
502,422
_Total_
_2023_
_£_
_26,482_
_146,176_
_223,746_
_17,730_
_17,521_
_(748)_
_14,029_
_444,936_|
|---|---|---|---|
Page 17
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **7. Analysis of expenditure by activities**
|Membership Services
Sport Services
World Abilitysport Sports
IPC Services
Executive Services
Finance Services
Governance Costs|**Activities**
**undertaken**
**directly**
**2024**
**£**
74,707
178,610
175,832
22,725
-
-
-
451,874|**Support**
**costs**
**2024**
**£**
-
8,803
-
-
18,152
1,610
21,983
50,548|**Total**
**funds**
**2024**
**£**
74,707
187,413
175,832
22,725
18,152
1,610
21,983|
|---|---|---|---|
||||502,422|
|Membership Services
Sport Services
World Abilitysport Sports
IPC Services
Executive Services
Finance Services
Governance Costs|_Activities_
_undertaken_
_directly_
_2023_
_£_
_26,482_
_142,992_
_223,746_
_17,730_
_-_
_-_
_-_
_410,950_|_Support_
_costs_
_2023_
_£_
_-_
_3,184_
_-_
_-_
_17,521_
_(748)_
_14,029_
_33,986_|_Total_
_funds_
_2023_
_£_
_26,482_
_146,176_
_223,746_
_17,730_
_17,521_
_(748)_
_14,029_|
|---|---|---|---|
||||_444,936_|
Page 18
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **8. Independent examiner's remuneration**
||**2024**|_2023_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Company's independent examiner for the independent|||
|examination of the Company's annual accounts|3,350|_3,250_|
## **9. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2024**
**£**
211,810
14,874
4,689
231,373|_2023_
_£_
_164,919_
_8,779_
_3,602_|
|---|---|---|
||||
|||_177,300_|
The average number of persons employed by the Company during the year was as follows:
||**2024**|_2023_|
|---|---|---|
||**No.**|_No._|
|Average number of employees|8|_7_|
No employee received remuneration amounting to more than £60,000 in either year.
During the year, the Charity's key management personnel received renumeration of £117,304 (2023: £69,623).
## **10. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ .
During the year ended 31 December 2024, expenses totalling _£_ 6,452 were reimbursed or paid directly to Trustee _(2023 - £14,370_ ).
Page 19
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **11. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2024
At 31 December 2024
**Depreciation**
At 1 January 2024
Charge for the year
At 31 December 2024
**Net book value**
At 31 December 2024
_At 31 December 2023_
**12.**
**Debtors**
**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income|**Office**
**equipment**
**£**
12,217
12,217
12,217
-
12,217
-
_-_||**Computer**
**equipment**
**£**
15,619
15,619
13,601
506
14,107
1,512
_2,018_
**2024**
**£**
64,497
1,033
-||**Total**
**£**
27,836
27,836
25,818
506
26,324
1,512
_2,018_
_2023_
_£_
_51,698_
_2,231_
_1,870_|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
||||65,530||_55,799_|
Page 20
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **13. Creditors: Amounts falling due within one year**
|Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2024**
**£**
1,010
4,859
4,225
66,977
77,071|_2023_
_£_
_4,376_
_4,989_
_1,133_
_30,561_|
|---|---|---|
||||
|||_41,059_|
Page 21
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **14. Statement of funds**
## **Statement of funds - current year**
|**Balance at 1**
**January**
**2024**
**£**
**Unrestricted funds**
**Designated funds**
Anti Doping Fund
30,000
Games Fund
70,000
100,000
**General funds**
General Funds
677,293
**Total Unrestricted funds**
777,293
**Restricted funds**
IPC IF Grant
32,358
Dr Nakamura Fund
1,863
Special Fund
971
Para Fencing Fund
62,200
Powerchair Hockey Fund
-
Camps Fund
-
Conference Fund
1,476
98,868
**Total of funds**
876,161|**Income**
**£**
-
-
-
349,249
349,249
38,273
-
-
77,650
4,277
-
-
120,200
469,449|**Expenditure**
**£**
-
-
-
(360,784)
(360,784)
(27,274)
-
-
(104,773)
(1,326)
(208)
(8,057)
(141,638)
(502,422)|**Transfers**
**in/out**
**£**
-
-
-
(6,789)
(6,789)
-
-
-
-
-
208
6,581
6,789
-|**Balance at**
**31**
**December**
**2024**
**£**
30,000
70,000|
|---|---|---|---|---|
|||||100,000|
|||||658,969|
|||||758,969|
|||||43,357
1,863
971
35,077
2,951
-
-|
|||||84,219|
|||||843,188|
Page 22
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **14. Statement of funds (continued)**
**Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Anti Doping Fund
Games Fund
**General funds**
General Funds
**Total Unrestricted funds**
**Restricted funds**
IPC IF Grant
Dr Nakamura Fund
Special Fund
Para Fencing Fund
Powerchair Hockey Fund
Para Dance Sport
Camps Fund
**Total of funds**|_Balance at_
_1 January_
_2023_
_£_
_-_
_-_
_-_
_552,218_
_552,218_
_25,726_
_1,863_
_971_
_39,470_
_3,292_
_-_
_-_
_71,322_
_623,540_|_Income_
_£_
_-_
_-_
_-_
_517,760_
_517,760_
_22,163_
_-_
_-_
_87,590_
_18,153_
_20,516_
_31,375_
_179,797_
_697,557_|_Expenditure_
_£_
_-_
_-_
_-_
_(286,620)_
_(286,620)_
_(15,531)_
_-_
_-_
_(64,860)_
_(23,878)_
_(19,040)_
_(35,007)_
_(158,316)_
_(444,936)_|_Transfers_
_in/out_
_£_
_30,000_
_70,000_
_100,000_
_(106,065)_
_(6,065)_
_-_
_-_
_-_
_-_
_2,433_
_-_
_3,632_
_6,065_
_-_|_Balance at_
_31_
_December_
_2023_
_£_
_30,000_
_70,000_|
|---|---|---|---|---|---|
||||||_100,000_|
||||||_677,293_|
||||||_777,293_|
||||||_32,358_
_1,863_
_971_
_62,200_
_-_
_1,476_
_-_|
||||||_98,868_|
||||||_876,161_|
Page 23
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **15. Summary of funds**
## **Summary of funds - current year**
|**Balance at 1**
**January**
**2024**
**£**
Designated funds
100,000
General funds
677,293
Restricted funds
98,868
876,161
**Summary of funds - prior year**
_Balance at_
_1 January_
_2023_
_£_
Designated funds
_-_
General funds
_552,218_
Restricted funds
_71,322_
_623,540_|**Income**
**£**
-
349,249
120,200
469,449
_Income_
_£_
_-_
_517,760_
_179,797_
_697,557_|**Expenditure**
**£**
-
(360,784)
(141,638)
(502,422)
_Expenditure_
_£_
_-_
_(286,620)_
_(158,316)_
_(444,936)_|**Transfers**
**in/out**
**£**
-
(6,789)
6,789
-
_Transfers_
_in/out_
_£_
_100,000_
_(106,065)_
_6,065_
_-_|**Balance at**
**31**
**December**
**2024**
**£**
100,000
658,969
84,219|
|---|---|---|---|---|
|||||843,188|
|||||_Balance at_
_31_
_December_
_2023_
_£_
_100,000_
_677,293_
_98,868_|
|Designated funds
General funds
Restricted funds|||||
|||||_876,161_|
Page 24
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
**WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **15. Summary of funds (continued)**
## **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.
## **Dr Nakamura's Fund**
Access to Dr Nakamura's Fund is only available to members in Far Eastern countries. World Abilitysport 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.
## **Powerchair Hockey Fund**
These funds are restricted funds that are intended for the sport of wheelchair fencing only and is made up of fees payable to the sport under the rules of the sport and World Abilitysport.
## **Para Fencing Fund**
These funds are restricted funds that are intended for the sport of Para fencing only and is made up of fees payable to the sport under the rules of the sport and World Abilitysport.
## **Para Dance Sport**
These funds are restricted funds that are intended for the sport of Para dance sport only and is made up of fees payable to the sport under the rules of the sport and World Abilitysport.
## **IPC IF Grant – For Para Fencing only**
All sports on the Paralympic Games programme receive an annual grant from the International Paralympic Committee. These funds are exclusively for the development of Para Fencing around the world.
## **Paralympic Games ITO costs Fund**
Prior to each Paralympic Games, World Abilitysport receives an amount from the organisers of the Paralympic Games that has to be used to book all flights for international delegates attending the games as well as the per-diems that are paid to them. The balance of this should be zero at the end of the year of the Paralympic Games.
## **Recreational Camps Fund**
These funds were received for the delivery of 3 camps following the coming together of IWAS and CPISRA. Camps will not be organised by World Abilitysport as they do not reach an international audience going forward.
## **Conference Fund**
The first Conference of World Abilitysport was held as a continuation of the activities of CPISRA. It is our intention to continue this activity and will therefore apply for funding that needs to be kept in a dedicated fund for this purpose.
Page 25
Docusign Envelope ID: 31C4AFA0-1A6C-4372-9456-DF75FCE10C9F
## **WORLD ABILITYSPORT FEDERATION LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **16. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|**Restricted**
**funds**
**2024**
**Unrestricted**
**funds**
**2024**
**£**
**£**
-
1,512
84,219
834,532
-
(77,075)
84,219
758,969|**Total**
**funds**
**2024**
**£**
1,512
918,751
(77,075)
843,188|
|---|---|---|
## **Analysis of net assets between funds - prior period**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|_Restricted_
_funds_
_2023_
_£_
_-_
_98,868_
_-_
_98,868_|_Unrestricted_
_funds_
_2023_
_£_
_2,018_
_816,334_
_(41,059)_
_777,293_|_Total_
_funds_
_2023_
_£_
_2,018_
_915,202_
_(41,059)_
_876,161_|
|---|---|---|---|
## **17. Pension commitments**
The Company operates a defined contribution scheme. The assets of the scheme are held seperately 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 £4,689 (2023: £3,602). Contributions totalling £1,027 (2023: £1,133) were payable to the fund at the balance sheet date and are included in creditors.
Page 26