THE AQUASPORTS CROSS TRUST
ANNUAL REPORT AND ACCOUNTS
30[th ] SEPTEMBER 2022
Company Registration Number
3745310
Charity Registration Number
1075300
THE AQUASPORTS CROSS TRUST
CONTENTS
| Page | |
|---|---|
| Charity Information | 3 |
| Report of the Trustees | 4-6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities (incorporating a summary income & | 8 |
| expenditure Account) | |
| Balance Sheet | 9 |
| Notes to the Accounts | 10-14 |
Page 2
THE AQUASPORTS CROSS TRUST
CHARITY INFORMATION
for the year ended 30[th] September 2022
Directors and Trustees
Mrs. S. Albon (Chair) Mrs. D. Baird Ms. S. Brooks Mr. P Mason Dr. D. Randell Mrs. S. Robinson
Secretary
Mr. P. Mason
Company Registration Number
Charity Registration Number Registered Office
Bankers
3745310 1075300 41 Byron Ave. South Woodford London E18 2HH HSBC Bank PLC 1-3 Bishopsgate London EC2N 3AQ The Co-operative Bank 1 Balloon Street Manchester M60 4EP
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THE AQUASPORTS CROSS TRUST
REPORT OF THE TRUSTEES
for the year ended 30[th] September 2022
The Trustees, who are also the Directors, present their report and the accounts of the Charity for the year ended 30[th] September 2022.
The accounts comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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) (issued in October 2019) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Structure, Governance and Management
The Company was incorporated on 1[st] April 1999 and is registered as a Company limited by guarantee (number 3745310). The Company is also a registered charity (number 1075300). It is governed by its Memorandum and Articles of Association.
Policy and operating decisions of the Charity rest with the directors who are also the sole trustees. They are elected in general meeting by the members where fourteen days’ notice must be given to the secretary for proposals to elect new trustees. Prospective trustees would be expected to have specific management skill and experience together with a keen interest in the work of the trust and commitment to its Christian ethos. Whilst anybody can propose a new trustee for the existing members to consider, appropriate individuals are generally approached when the existing trustees determine a need. The chair of trustees liaises with new trustees to explain the role and the trust’s expectation of a trustee in the context of this trust and also provides guidance on sources of information setting out the role of a charity trustee generally.
The trustees of the Charity who served during the year under review are as stated on page 3. All trustees retire in accordance with the terms of the Memorandum of Association and, if being eligible, offer themselves for re-election at the AGM; where two of the trustees retire and are reappointed followed by the remaining trustees retiring and being reappointed.
The leadership, management and planning of the annual camp, which is the sole activity of the trust, is delegated to an executive management team which also draws in the instructors of each sporting activity together with other key team members as required. This group also oversees the risk review process that assesses the risks facing the trust and establishes procedures designed to mitigate or reduce those risks. The management team, alongside the trustees, also ensure that all other legal and good practice procedures are in place. This management team is led and chaired by Greg and Andrea Ainsworth and the group reports to the trustees who are represented at management meetings when it is felt appropriate. All members of the team, including the trustees and the management team, participate in a voluntary capacity.
The management team and their volunteers regularly assess the risks facing the trust. Detailed risk assessments together with action to mitigate risk are prepared annually for all significant activities. Additionally, the trust is fully committed to the safeguarding of young people and team members involved in its activities; training and policies are reviewed and updated annually.
Objectives and Activities
The Charity’s objects are to advance the Christian faith, to provide and promote the provision of recreational and sporting facilities for the benefit of the community and to relieve persons who are in conditions of need or hardship. The principal activity of the Charity gives opportunity to individuals to learn about and develop
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THE AQUASPORTS CROSS TRUST
REPORT OF THE TRUSTEES (continued)
for the year ended 30[th] September 2022
a Christian faith; as illustrated by practical example of the team and through biblical teaching and water sport activities. All of the activities of the Charity are carried out wholly by volunteers.
Public Benefit
The charity seeks to achieve its objectives outlined above by providing spiritual and moral education for young people, raising awareness and understanding of the Christian faith, providing tuition and encouraging the attainment of skills in the various water-sport activities at the camp and by providing financial support where necessary to applicants who are suffering financial hardship.
It is also the intention of the charity to continue to provide bursaries to refugee teenagers allowing them to be able to attend the holiday camp and experience the various activities provided. This not only gives this hugely disadvantaged group the opportunity to try new sports, gain confidence in their inter-personal skills and hear about the Christian faith, but it also enables all the young people at the camp to learn a little bit about the challenges refugees face in the UK as well as gain an understanding of the difficult circumstances they experienced before arriving here.
Gifts are also collected and distributed to those involved in projects which are consistent with the objectives of the trust.
The trustees have had regard to the Charity Commission’s general guidance on public benefit when reviewing its aims and objectives and in planning future activities.
Achievements and Performance
For the year under review, the Trust once again held its annual camp during August 2022, which was eight days in duration, and took place in Marlow in Buckinghamshire. The Trust continues to achieve its aims through the provision of sporting and recreational facilities in order to advance the Christian faith.
The camp was well supported with demand for the camp in 2022 being at an acceptable level with attendees coming from a wide range of backgrounds. The holiday was open to all in the age range fourteen to nineteen irrespective of denominational background including those with no church connection. The camp was deemed to have been successful by the trustees, particularly in light of the preceding two year having had to be cancelled due to the Corona Virus Pandemic, in that the objectives of the Trust were met through the wide range of activities organised. Activities included spiritual and sporting sessions, the latter provided by team members; each sport having qualified instructors. Feedback indicated the camp was much appreciated and useful in developing the Christian faith and sporting skills of many who attended.
Financial Review
The Statement of Financial Activities on page 8 indicates a small surplus for the year and we are incredibly grateful to our supporters and donors for their gifts which have covered operating costings and provided this surplus.
The trustees hold a reserve of £15,000 and believe it is sufficient to cover annual expenditure in the case where the annual camp had to be cancelled. If the reserves fall below this amount the trustees will seek additional giving. The free reserves shown in these accounts are £20,216, so are above this level.
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THE AQUASPORTS CROSS TRUST
REPORT OF THE TRUSTEES (continued)
for the year ended 30[th] September 2022
The Balance Sheet on page 9 shows the total unrestricted funds of the charity as at 30[th] September 2022 were £52,212, (2021: £40,836). The trustees regularly assess the level of reserves they believe it is appropriate to retain by reference to the expenses that have to be borne prior to completion of the annual camp and by reference to their assessment of the capital expenditure which is anticipated in the short to medium term. Significant gifts have been made in recent years to purchase certain capital items of equipment. These will be depreciated over coming years. Consequently, the trustees consider that this new level of reserves approximate to the funds required for operational and depreciation purposes and consequently believe it is appropriate in the light of this assessment to retain the reserves at 30[th] September 2022 for these purposes.
The Charity operates a bursary fund to assist team members and teenagers to attend where financially they otherwise would not be able to do so. Applications for financial assistance are made either to the camp leaders, the camp bookings secretary or the Treasurer and this group then considers each application on its merits after making whatever enquiries are deemed appropriate.
The trust charges a fee for attendance at its annual camp and whilst this enables it to cover its running costs, investment in significant assets would not normally be possible. The trust is grateful to many longstanding friends and supporters who regularly and generously provide financial support.
Future Plans
A further camp is being planned for 2023 and the trustees anticipate that there will be sufficient interest to generate income to cover expenses in the coming year and also permit the purchase of any essential new equipment. If there is a shortfall, the trustees consider the reserves to be sufficient to enable the trust to remain financially sound. It is also perceived that the voluntary financial giving of its supporters in the Christian community will be sufficient to provide adequate financial resources for the foreseeable future. Generally, there is no significant dependence upon any individual or corporation. Gifts come from a broad support base. The key objectives as set out above are expected to continue to apply throughout the coming year.
The trust has been fundraising to replace the toilet, shower, and storage facilities that the charity uses, and which have been in place for over 40 years. The Trust is hopeful that this work be undertaken in 2023 in preparation for the 2023 camp now that a form of undertaking has been reached with the site owner, talks remain on going. The team are currently in the process of final fundraising and planning of the works. Currently a total of £42,185 has already been raised for the project. This fundraising has been identified within the accounts within restricted and designated funds. With a project cost of £65,000, an additional £21,108 is needed and the Trust, their volunteers and supporters are actively fundraising to meet this gap.
Approved by the trustees on Tuesday 2[nd] May 2023 and signed on their behalf by
Dr. D. Randell Trustee
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THE AQUASPORTS CROSS TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE AQUASPORTS CROSS TRUST
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 30th September 2022 which comprise the statement of financial activities, the balance sheet and notes 1 to 11.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). The trustees consider that an audit is not required for this year under Part 16 of the 2006 Act and that an independent examination is needed.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the Charities Act 2011 (the 2011 Act); and
-
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act;
Independent examiner's statement
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 that in any material respect:
-
accounting records were not kept in respect of the company required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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).
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.
Robert Anderson FCA, Azets Audit Services, 3Mc Middlemarch Business Park, Siskin Drive, Coventry, CV3 4FJ
Page 7
THE AQUASPORTS CROSS TRUST
STATEMENT OF FINANCIAL ACTIVITIES
(Incorporating a summary income and expenditure account) for the year ended 30[th] September 2022
| Notes INCOME Donations Charitable activities 10 Investments 11 Total income EXPENDITURE Charitable activities 2 Governance and administration of the Charity 3 Total expenditure NET INCOME/(EXPENDITURE) Transfer between funds 9 NET INCOME/(EXPENDITURE) IN FUNDS FUND BALANCES AS AT 1ST OCTOBER 2021 FUND BALANCES CARRIED FORWARD AS AT 30TH SEPTEMBER 2022 8 |
Unrestricted Funds 2022 Restricted Funds 2022 Total Funds 2022 General Designated £ £ £ £ 26,083 - 1,420 27,503 22,625 - - 22,625 26 - - 26 48,734 - 1,420 50,154 35,995 - 4,343 40,338 1,363 - - 1,363 37,358 - 4,343 41,701 11,376 - (2,923) 8,453 (16,688) 16,688 - - (5,312) 16,688 (2,923) 8,453 25,528 15,308 14,581 55,417 20,216 31,996 11,658 63,870 |
Unrestricted Funds 2021 Restricted Funds 2021 Total Funds 2021 General Designated £ £ £ £ 5,296 - 1,443 6,739 - - - - 3 - - 3 |
|---|---|---|
| 5,299 - 1,443 6,742 |
||
| 7,153 - - 7,153 1,095 - - 1,095 |
||
| 8,248 - - 8,248 |
||
| (2,949) - 1,443 (1,506) - - - - |
||
| (2,949) - 1,443 (1,506) 28,477 15,308 13,138 56,923 |
||
| 25,528 15,308 14,581 55,417 |
Movement on reserves and all recognised gains and losses are shown above. All of the activities of the Trust are continuing activities.
The notes on pages 10 to 14 form an integral part of these accounts
Page 8
THE AQUASPORTS CROSS TRUST
BALANCE SHEET
as at 30[th] September 2022
| Notes FIXED ASSETS Tangible fixed assets 5 CURRENT ASSETS Debtors 6 Cash at bank and in hand CURRENT LIABILITIES Creditors: amounts falling due within one year 7 Net Current Assets NET ASSETS FUND BALANCES Unrestricted Funds 8, 9 Restricted Funds 8, 9 |
2022 £ - 4,255 61,152 65,407 1,537 63,870 63,870 52,212 11,658 63,870 |
2021 £ - |
|---|---|---|
| 1,006 55,264 |
||
| 56,270 853 |
||
| 55,417 | ||
| 55,417 | ||
| 40,836 14,581 |
||
| 55,417 |
Registered number: 3745310
In approving these accounts as trustees of the charity we hereby confirm:
-
For the year ended 30[th] September 2022 the Company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. No members have required the Company to obtain an audit of its accounts for the period in question in accordance with Section 476 of the Companies Act 2006; and
-
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies;
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The trustees acknowledge their responsibilities for complying with the requirements of Section 386 of the Companies Act 2006 with respect to keeping accounting records and for the preparation of accounts which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its surplus or deficit for the year then ended in accordance with the requirements of Section 393 and which otherwise comply with the provisions of the Companies Act relating to accounts, so far as applicable to the charity.
Approved by the trustees on Tuesday 2[nd] May 2023 and signed on their behalf by
Dr. D. Randell Director
The notes 1 to 11, on pages 10 to 14, form an integral part of these accounts.
Page 9
THE AQUASPORTS CROSS TRUST
NOTES TO THE ACCOUNTS
30[th] September 2022
1. Accounting Policies
The principal accounting policies adopted in the preparation of the accounts are as follows:
a) Basis of preparation These accounts have been prepared in accordance with the Companies Act 2006 and follow the recommendations in 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) (issued in October 2019) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cashflows and the financial statements are prepared in sterling and monetary amounts in the financial statements are rounded to the nearest £.
The Aquasports Cross Trust 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 note. The Trustees are of the view that the charity has no going concern issues and have therefore prepared these accounts on the going concern basis.
b) Income
Income includes fees and gifts receivable in relation to the summer camp run by the Trust. Income also includes donations to other organisations which pass through the accounts. Voluntary income is received by way of donations and gift aid and is included in full in the Statement of Financial Activities when received. Provision is made for tax unclaimed at the period end.
Income generally is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably.
c) Funds
Restricted funds are to be used for the specified purposes laid down by the donor. Expenditure which meets these criteria is identified to the relevant fund. General funds are donations and other income received or generated for the objects of the charity without further specified purpose and are available as general funds. Designated funds are unrestricted funds which have been allocated for future expenditure for a specific purpose by the trustees.
d) Fixed assets
Assets of a capital nature are shown as fixed assets. Depreciation of equipment is provided at various rates applicable to reduce book values to estimated residual values over the useful lives of the assets concerned using the straight-line method, (most items are depreciated over three years).
e) Expenditure and irrecoverable VAT
Charitable expenditure comprises all the expenditure directly related to the pursuance of the objects of the charity. Governance and administration includes all costs in managing the charity.
Expenditure is recognised in the accounts once a legal or constructive obligation arises to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. The charitable company is not registered for VAT and, as such, irrecoverable VAT is included within the expense on which it was incurred.
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THE AQUASPORTS CROSS TRUST
NOTES TO THE ACCOUNTS (continued)
30[th] September 2022
| 2. Charitable Expenditure Insurance General consumables Equipment Hire Food Holiday running costs Sports costs Storage Costs Water sports equipment Hire of site & site membership charges Gifts Made Marketing Licence Fees & Similar Management and administration costs Depreciation Financial costs Provision of Bursaries |
Unrestricted Funds Restricted Funds Total Funds Total Funds General Designated 2022 2022 2022 2022 2021 £ £ £ £ £ 4,407 - - 4,407 2,747 1,498 - - 1,498 438 9,200 - - 9,200 282 5,433 - - 5,433 225 2,024 - - 2,024 204 3,453 - - 3,453 - - - - - 750 1,194 - - 1,194 125 7,032 - - 7,032 505 - - 616 616 - 48 - - 48 48 715 715 647 - - 647 276 - - - - 1,540 344 - - 344 13 3,727 3,727 35,995 - 4,343 40,338 7,153 |
|---|---|
The annual camp at present is the only operational activity of the trust. All charitable expenditure in 2021 was unrestricted. Gifts made were a pass-through of a collection taken and recognised in the accounts.
| 3. Governance and administration of the Charity Insurance costs Company Expenses |
Unrestricted Funds Restricted Funds Total Funds Total Funds General Designated 2022 2022 2022 2022 2021 £ £ £ £ 262 - - 262 255 1,101 - - 1,101 840 |
|---|---|
| 1,363 - - 1,363 1,095 |
All governance and administration expenditure in 2021 was unrestricted. Included in company expenses are amounts of £1,080 (£840) for the completion of the independent examination.
4. Staff costs and related party transactions
The charity relies upon volunteer staff and incurred no employment costs during the period. Trustees are not remunerated and do not receive funds from the Charity other than as reimbursement for expenditure wholly and necessarily expended on behalf of the charity.
There were no related party transactions in the year.
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THE AQUASPORTS CROSS TRUST
NOTES TO THE ACCOUNTS (continued)
30[th] September 2022
| 5. Tangible fixed assets Fixtures, fittings and equipment Cost At 1stOctober 2021 Additions during the period At 30thSeptember 2022 Accumulated depreciation At 1stOctober 2021 Charge for the year At 30thSeptember 2022 Net book value At 30thSeptember 2022 At 30thSeptember 2021 |
Total £ 42,382 - |
|---|---|
| 42,382 | |
| 42,382 - |
|
| 42,382 | |
| - | |
| - |
All of the above fixed assets comprise equipment utilised in carrying out the annual camp. There were no outstanding contracts for, or commitments to, capital expenditure at 30[th] September 2022.
| 6. Debtors Gift Aid Tax Recovery Sundry debtors Prepayments |
2022 £ 1,707 300 2,248 4,255 |
2021 £ 165 361 480 |
|---|---|---|
| 1,006 |
| 7. Creditors : amounts falling due within one year Accruals Sundry Creditors |
2022 £ 1,080 457 1,537 |
2021 £ 840 13 |
|---|---|---|
| 853 |
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THE AQUASPORTS CROSS TRUST
NOTES TO THE ACCOUNTS (continued)
30[th] September 2022
| 8. Analysis of Net Assets between Funds 2022 Fixed Assets Current Assets Current Liabilities 2021 Fixed Assets Current Assets Current Liabilities 9. Movement in Funds Balance at 1/10/2021 Income 2022 £ £ Restricted Funds Bursary Fund 2,471 360 Cabin Replacement Fund 10,189 - Donations - 1,060 Refugee Bursary Fund 1,921 - 14,581 1,420 Unrestricted Funds General Fund 25,528 48,734 Cabin Replacement Fund 15,308 - 40,836 48,734 55,417 50,154 |
8. Analysis of Net Assets between Funds 2022 Fixed Assets Current Assets Current Liabilities 2021 Fixed Assets Current Assets Current Liabilities 9. Movement in Funds Balance at 1/10/2021 Income 2022 £ £ Restricted Funds Bursary Fund 2,471 360 Cabin Replacement Fund 10,189 - Donations - 1,060 Refugee Bursary Fund 1,921 - 14,581 1,420 Unrestricted Funds General Fund 25,528 48,734 Cabin Replacement Fund 15,308 - 40,836 48,734 55,417 50,154 |
Unrestricted Funds Restricted Funds Total Funds General Designated £ £ £ £ - - - - 21,753 31,996 11,658 65,407 (1,537) - - (1,537) 20,216 31,996 11,658 63,870 - - - - 26,381 15,308 14,581 56,270 (853) - - (853) 25,528 15,308 14,581 55,417 Expenditure Transfer between funds Gains and Losses Balance at 30/09/2022 £ £ £ (1,806) 444 - 1,469 - - - 10,189 (616) (444) - - (1,921) - - - |
|---|---|---|
| 14,581 1,420 |
(4,343) - - 11,658 |
|
| 25,528 48,734 15,308 - |
(37,358) (16,688) - 20,216 - 16,688 - 31,996 |
|
| 40,836 48,734 |
(37,358) - - 52,212 |
|
| 55,417 50,154 |
(41,701) - - 63,870 |
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THE AQUASPORTS CROSS TRUST
NOTES TO THE ACCOUNTS (continued)
30[th] September 2022
s
| Movement in Funds (continued) 2021 Restricted Funds Bursary Fund Cabin Replacement Fund Refugee Bursary Fund Unrestricted Funds General Fund Cabin Replacement Fund |
Balance at 1/10/2020 Income Expenditure Transfer between funds Gains and Losses Balance at 30/09/2021 £ £ £ £ £ 1,028 1,443 - - - 2,471 10,189 - - - - 10,189 1,921 - - - - 1,921 |
|---|---|
| 13,138 1,443 - - - 14,581 |
|
| 28,477 5,299 (8,248) - - 25,528 15,308 - - - - 15,308 |
|
| 43,785 5,299 (8,248) - - 40,836 |
|
| 56,923 6,742 (8,248) - - 55,417 |
The bursary fund was established to provide financial assistance with the fees of campers and team members who have not been able to meet the expected level of fees to attend the holiday camp. Similarly, the refugee bursary fund was set up for donations specifically marked for supporting teenagers who are themselves refugees and to give them the opportunity to experience the holiday as outlined above in the Public Benefit section of this report.
The cabin replacement fund has been established for the principle purpose of fundraising to replace the toilet, shower and storage facilities that the charity uses.
10. Charity Activities
Income from Charity Activities comprises of the booking fees paid by the Youth that attend the holiday camp and volunteer fees (monies considered as a benefit) paid by the team of volunteers.
11. Investments
Income from investments primarily come from interest received from bank accounts.
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