THEA UASPORTS CROSS TRUST ANNUAL REPORT AND ACCOUNTS 30thsEPTEMBER 2024 Company Registratlon Number 3745310 Charlty Registration Number 1075300
THE AQUASPORTS CROSS TRUST coKrENTS Page Charity Information Report of the Trustees 4-6 Independent Examlner's Report Statement of Financial Actlvities (Incorporating a summary income & expenditure Account) Balance Sheet Notes to the Accounts 10-14 Page 2
THE AQUASPORTS CROSS TRUST CHARITY INFORMATION th for the year ended 30 September 2024 Dlrectors and Trustees Mrs. S. Albon Mrs. D. Baird Ms. S. Brooks Mr. P Mason Dr. D. Randell Mrs. S. Robinson Mrs S. Fanner th Appointed 8 January 2024 Secretary Mr. P. Mason Resigned 28 March 2025 Company Reglstratlon Number 3745310 Charlty Re8lstratlon Number 1075300 Reglstered Offlce 225 Coneygree Road, Peterborough, PE2 8U Bankers The Co-operative Bank l Balloon Street Manchester M60 4EP Pa8e 3
THE AQUASPORTS CROSS TRUST REPORT OF THE TRUSTEES th for the year ended 30 September 2024 The Trustees, who are also the Directors, present their report and the accounts of the Charity for the year th ended 30 September 2024. The accounts complywith the Charities Art 2011, the Companies Act 2006, the Memorandum and Articles of Association and Accountlng and Reporting by Charities: Ststement 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. Govefflan and Mana8ement The Company was incorporated on I" Aprll 1999 and is regtstered as a Company Ilmited by guarantee (number 3745310). The Company is also a registered charity (number 1075300>, It Is governed by its Memorandum and Articles of Association. Pollcy and operating decislons 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 secretsry for proposals to elect new trustees. Prospective trustee5 would be expected to have specific management skill and experlence together with i keen interest in the work of the trust and commitment to its Christlan ethos. Whilst anybody can propose a new trustee for the existing members to consider, appropriate individuals are generally approached when the exlsting trustees determine a need. The chair of trustees liaises with new trustees to explain the role and the trust's expectstion of a trustee in the context of this trust and also provides guldance on sources of information Setting out the role of a charity trustee generallv, The trustees of the Charity who served during the year under review are as stated on page 3. All trustees retlre In accordance with the terms of the Memorandum of Associatlon and, if being ellglble, offerthemselves for re-election at the AGM. where two of the trustees retlre and are reappolnted followed by the remaining trustees retiring and being reappolnted, The leadership, management and planning of the annual camp, which is the sole actlvity 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 mltigate or reduce those rlsk5. The management team, alongside the trustees, also ensure that all other legal and good prartice procedures are in place. Thls management team is led and chaired by Greg and Andrea Alnsworth 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• particlpate in a voluntary capacity. The management team and their volunteers regularly assess the risks faclng the trust. Detailed rlsk assessments together with action to mitlgate risk are prepared annually for all significant activities. Addltlonally, the trust is fully commltted tothe safeguarding of young people and team member5 involved In its activities. training and policies are reviewed and updated annually. Page 4
THE AQUASPORTS CROSS TRUST REPORT OF THE TRUSTEES (contlnued) th for the year ended 30 September 2024 Objectlves and Attlvltles 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 a Christian faith; as illustrated by practical example of the team and through biblical teaching and water sport activities. All of the activitie5 of the Charity are carried out wholly by volunteers. Publlc 8eneflt The charity seeks to achieve its objectives outlined above by provldlng spiritual and moral educatlon for young people, raising awareness and understsnding of the Christian faith, providing tuition and encouraging the attalnment of skills In the various water-sport activities at the camp and by providing financlal support where necessary to applicants who are SLrffering financial hardship. Gifts are also collected and dlstrlbuted to those Involved In projects whlch are consistent wlth the objectives of the trusL The trustees have had regard to the Charity Commlssion's general guidance on publlc benefitwhen reviewing its aims and objective5 and in planning future actlvities. Athlevements and Performance For the year under review, the Trust once agaln held its annual camp during August 2024, whlch was eight days in duration, and took place in Marlow in Buckinghamshire. The Trust continues to achieve its alms through the provislon of sporting and recreational facilities In order to advance the Christian faith. The camp was well supported by volunteers wlth demand for the camp in 2024 being of g¢)od number. The holiday was open to all in the age range thirteen to eighteen Irrespective of denomlnational background Including those with no church connection. The camp was deemed to have been successful by the trustees, in that the objectives of theTrust were met through thewide range of activities organised. Activities included spiritual and sporting sesslons,. the latter provlded by team members. each sport having qualified instructors. Feedback indicated the camp was much appreciated and useful in developlng the Christian faith and sporting skills of many who attended. The Trust, the Aquasports team, and the young people who attend Aquasports are Incredlbly 8rateful to all supporters who have glven so generously to the charity over the year in support of the Aquasports Holiday. Flnanclal Revlew The Statement of Financial Activltles on page 9 indicates a small surplus for the year. th The Balance Sheet on page 10 shows the totsl unrestricted funds of the charity as at 30 September 2024 were £75,788, {2023: £63,400). The trustees hold a reserve of £17,000 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 £40,590, 50 are above this level. Page 5
THE AQUASPORTS CROSS TRUST REPORT OF THE TRUSTEES (continued) th for the year ended 30 September 2024 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 completlon of the annual camp and by reference to their assessment of the capital expenditure which Is anticipated in the shortto medium term. Significant gifts have been made in recent years to purchase certain capitsl 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 th assessment to retain the reserves at 30 September 2024 for these purposes. The Charityoperates a bursaryfund to assist young people to attend where financlally they otherwise would not be able to do so. Applications for financial assistance are considered on it own merlts after enquiries that are deemed appropriate are made. A number of very kind supporters glve regularly to this fund and the Trustees are grateful to them for their support. The Trustees noted a higher request for bursaries than for previous years and have sort to meet this need for future years though increased giving. The trust charges a fee for attendance at its annual camp and whllst thls enables It to cover its runnlng costs, investment in significant assets would not nomially be possible. The trust Is grateful to many longstanding friends and 5UPPOrters who regularly and generously provide financlal support. Future Plans A further camp Is being planned for 2025 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 glvlng of its supporters in the Chrlstian community will be sufficient to provide adequate financial resources for the foreseeable future. Generally, there is no significant dependence upon any individual or corporation and gifts come from a broad support base. Over the financial yearthe Charity received regular gifts from a sympathetic Charitythatwishes to SUPPOrt young people in attending the holiday. Their generous gifts have directly helped to bring the cost of the holiday down to help more young people attend by helping to cover some of the costs of the hollday. The key objectives as set out above are expected to continue to apply throughout the coming year. Approved by the trustees on Tuesday 13th May 2025 and signed on their behalf by Dr. D. Randell Trustee Page 6
THE AQUASPORTS CROSS TRUST INDEPENDENT EXAMINER'S REPORTTO THE TRusfEES OF THE AQUASPORTS CROSS TRusr I report to the charity trustees on my examinatlon of the accounts of the charitable company for the year ended 30th September 2024 which comprise the ststement of financial activities, the balance sheet and notes I to 11. Re5pectlve responslbllltles of trustees and examlner The trustees (who are also the dlrectors 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 ACV). The trustees consider that an audit is not required for this year under Part 16 of the 2006Act and that an independent examination is needed. Having satisfied myself that the charlty 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 lald down in the general Dlrections given by the Charity Commission under section 145{5)Ib) of the 2011 Act; Independent examlner's statement I have Completed my examinatlon, I confirm that no matters have come to my attentlon in connectlon with the examlnation giving me cause to believe that in any materlal respect: accounting records were not kept in respectof the company 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 requlrements of section 396 of the 2006 Act other than any requlrement that the accounts give a 'true and fair vlew, whlch Is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared In accordance wlth the methods and princlples of the ststementof Recommended Practlce foraccounting and reporting bycharities applicableto charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). I have no concerns and have come across no other matters in connection with the examination to whlch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Robert Anderson FC Azets Audlt Servlces, 3Mc Middlemarch Buslness Par Slskln Drlve. Coventry. CV3 4FJ Page 7
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THE AQUASPORTS CROSS TRUST BALANCE SHEET th as at 30 September 2024 Notes 2024 2023 FIXED ASSErs Tangible fixed assets 35,198 44,835 CURREiirr ASSETS Debtors Cash at bank and in hand 5,126 39,877 45,003 4,805 17,130 21,935 CURRENT UABIUTIES Creditors: amounts falling due withln one year 1,461 1,664 Net Current Assets 43,542 20,271 NET ASSETS 78,740 65,106 FUND BALANCES Unrestrlrted Funds Restrlcted Funds 75,788 2,952 78,740 63,4) 1,706 65,106 Re8lstered number: 3745310 In approving these accounts as trustees of the charity we hereby confirm: th l. For the year ended 30 September 2024 the Company was entitled to exernption from audit under Sectlon 477 of the Companles Act 2006 relating to small companies. No members have required the Company to obtain an audit of its accounts for the period in questlon In accordance with Section 476 of the Companies Act 2006. and 2. These accounts have been prepared in accordance wlth the speclal provlslons of Part 15 of the Companles Act 2006 relating to small companies. 3. The trustees acknowledge their responsibilities for complylng with the requirements of Section 386 of the Companies Act 2006 wlth respect to keeplng accounting records and for the preparation of accounts which give a true and fairview of the state of affairs of the charity as atthe 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 wmply with the provisions of the Companies Act relating to accounts, so far as applicable to the charity. Approved by the trustees on Tuesday 13th May 2025 and signed on their behalf by Dr. D. Randell Director The notes I to 11, on pages 9 to 14, forrn an intsgral part of these accounts. Page 9
THE AQUASPORTS CROSS TRUST NOTESTO THE ACCOUNTS th 30 September 2024 L Accountlng Pollcles The principal accounting policies adopted in the preparation of the account5 are as follows: a) Basls of preparatlon 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 UKand Republlc of Ireland IFRS 102) (issued in October 2019> and the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102). The charity has taken advantage of the provlslons 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 publlc benefit entity under FRS 102. Assets and liabilitles 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 carnp run by the Trust. Income also includes donations to other organisations which pass through the accounts. Voluntary income is received byway of donations and gift aid and is included in full in the Ststement of Financial Activities when received. Provision is made for tax unclalmed at the perlod 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, Funds Restricted funds are to be used forthe specified purposes laid down bythe donor. Expenditurewhich meets these criterla 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 specffic purpose by the trustees. d) Hxed 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 decllning balance method, (most items are depreclated over three years). e) Expendlture and Irrecoverable VAT Charltable expenditure comprises all the expendlture directly related to the pursuance of the objects of the charity. Governance and administration includes all costs in managing the charity. Expendlture 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. Page 10
THE AQUASPORTS CROSS TRUST NOTES TO THE ACCOUNTS (continued) 30, September 2024 2. Charitable Expendlture Unrestricted Funds General Deslgnated 2024 2024 Restrlcted Fuftds 2024 Total Funds 2024 Total Funds 2023 Equipment Hire Financlal costs Food General consumables Gifts Made Hire of site & site membership charges Holiday runnlng costs Insurance Licence Fees & Similar Management and administration costs Marketing Provision of Bursaries Slte Equipment Sports costs Storage Costs Tralning payments Depreclation Cabin Project (see breakdown) ' 7,542 337 4,369 4,896 150 8,006 2,238 3,910 715 342 148 7.542 337 4,369 4,896 150 8,006 2,238 3,910 715 342 148 5,274 1,069 2,949 1,550 200 9,637 7,309 389 5,380 2,596 7,591 2,381 4,535 384 120 1,932 5,274 1,069 2,949 1,550 200 9,637 3,184 750 13,723 48,058 53,332 At present the annual camp is the only operational activity of the trust. All charitsble expenditure in 2023 was unrestrlcted except for £1,769 from the bursarles fund. 3. Governance and adrnln15tratlon of the Charlty Unrestrlcted Funds General Deslgnated 2024 2024 Restrlcted Funds 2024 Total Funds 2024 Total Funds 2023 Insurance costs Independent Examiner's fee 258 1,182 258 1.182 265 1,128 1,440 All governance and administration expenditure in 2023 was unrestricted. Stsff costs and related party transattions The charlty relies upon volunteer staff and incurred no employment costs during the period. Trustees are not remunerated and do not recelve funds from the Charity otherthan as reimbursement for expenditure wholly and necessarily expended on behalf of the charity. There were no related party transactions in the year. Page 11
THE AQUASPORTS CROSS TRUST NOTES TO THE ACCOUNTS (continued) th 30 September 2024 5. Tanglble fixed assets Fixtures, fittlngs and equipment Total At I" October 2023 Additions during the period Disposals during the period At 3tt' September 2024 97,561 (70) 97,491 Accumulated depredatlon At I. October 2023 Disposals during the period Charge for the year th At 30 September 2024 52,726 (70) 9,637 62,293 Net book value th At 30 September 2024 35,198 th At 30 September 2023 44,835 All of the above fixed assets comprise of equipment or storage containers/cabins utllised in Carrying out the annual camp. There were no outstanding ¢ontracts for, or commitments to, capitsl expendlture at 30th September 2024. 6. Debtors 2024 2023 Gift Aid Tax Recovery Sundry debtors Prepayments 2,828 2,593 2,298 2,212 5,126 4,805 7. Credltors . amounts falllng due wlthln one year 2024 2023 Accrua15 Sundry Creditors 1,182 279 1,128 536 1,461 1,664 Page 12
THE AQUASPORTS CROSS TRUST NOTES TO THE ACCOUNTS (continued) th 30 September 2024 & Aftalysls of Net Assets between Funds Unrestricted Funds General Deslgnated Restrlrted Funds Total Funds 2024 Fixed Assets Current Assets Current Liabilities 35,198 42,051 1,461 35,198 45.003 2,952 75,788 2023 Fixed Assets Current Assets Current Liabilrtles 44,835 20,229 44,835 21,935 1,706 63,400 1,706 9. Movement In Funds Balance at 111012023 Income Expendlture Transfer between funds Galns and Balance at Losses 3010912024 2024 Restrlcted Funds Bursary Fund Cabin Replacement Fund Donations 1,706 6,520 (5.274) 2,952 1,706 6,520 (5,274) 2,952 Unrestrlcted Funds General Fund Cabin Replacement Fund 63,400 61,886 (49,498) 75,788 63,400 61,886 {49,498) 75,788 65,106 68,406 154,772) Page 13
THE AQUASPORTS CROSS TRUST NOTES TO THE ACCOUNTS (continued) 3trh September 2024 Movement In Funds (contlnued) Balance at yIO12022 Income ExpendItU Transfer between funds Galns and Balance at Losses 3010912023 2023 Restrlrted Funds Bursary Fund Cabin Replacement Fund Donations 1,469 10,189 673 22,875 {1,769) 1,333 {33,064) 1,706 1,333 24,881 11,333) 33,064) 11,658 {1,769 1,706 Unrestrlcted Funds General Fund Cabin Replacement Fund 20,216 31,996 37,216 12,888 (71,980) 77,948 {44,884) 63,400 52,212 50,104 71,980 33,064 63,400 63,870 74,985 (73,749} 65,106 The bursary fund was estsbllshed to provide flnancial assistance wlth the fees of campers and team members who have not been ableto meetthe expected level of fees to attend the holiday camp. Similarly, the refugee bursary fund was set up for donatlons specifically marked for supporting teenagers who are themselves refugees and to give thern the opportunlty to experience the holiday as outlined above In the Public Benefit section of this report. The cabln replacement fund has been estsbllshed for the prlncipal purpose of fundralslng to replace the toilet, shower and storage facllitles that the charity uses. As outlined in the report, the Trust undertook the replacement of the cabins in the Summer of 2023. Restrlcted and Designated funds set aside for the project are now considered spent and are seen as fund transfers in the above. Some of the purchased items have been considered as unrestricted fixed assets and as such have been recognised in the accounts. The Donation fund comprises of a collection tsken at camp and is essentlally a pass-through of glfts. This year the young people who attend camp declded that they vrdnted the collection to be given to the Bursary fund to support others In coming to camp. This is recognised in the accounts. 10. Charlty Actlvltles Income from Charity Activities tomprises of the booklng fees paid by the Youth that attend the holiday camp and volunteer fees (monies consldered as a benefit) paid by the team of volunteers. IL Investments Income from investments primarily come from interest received from bank accounts. Pw14