Company registration number: 04072775 Charity regislratton number.. 1100418 Wokingham Waterside Centre Limited IA ccthpany limited by guarantee) Annual Report and Finanual Ststements for the Year Ended 31 March 2024
Wokingham Waterside Centre Limited Reference and Administrative Details Trugtse8 A. Bailey Mrs S. Boyt A. Croy A. J. Hayrd E. A. Hes%ell C. Hitton R. Ilett Mrs S. Jordan Mrs J. A. Lissaman D. Palfrey (Chaimian) Every member of Ihe charitable company undertakes lo contribute to the assets of the charitable company, in the event of it being vKJund up, for payment of the debts and liabilities of the Charitable company. The contribution from any member shall not exceed £1. SKr•tsry Mr Anlony Hayward Ragister•d Officè Thames Valley Park [ve Earley Wokingham Berkshirè RG6 1PQ The charity is inwrporated in England and Wa18S. Company Regl8tratlon Numbgr 04072775 Charity Rogl8tratloTr Number 1100418 Bankers Santander Business Banking Bridle Road Bootle Merseyside L30 4GB Indynd8nt Examiner Woodvh)ite Accountants Ltd Chartered Accountant Unit 4. City Limits Danehill Reading 8erk$hire RG6 4UP
Wokingham Waterside Centre Limited Trustees rep¢Xt The Iwstees, who are also directors of the charity for the purposes of the Companies Act 2006, present their repfJ1 with the financial statemènts of the charity for the year ended 31 March 2023. The trustèes have adopted the provi5ion$ of Accounting and Reporting by Chities.' Statement of RecommèThJed Pracb"ce applicablè to charities preparing their accounts accordance with Ihe Fintt31 Reporting Slandard for Smaller Entities lthe FRSSE) leffecbva 1 January 20151. OBJECTIVES AND ACTMTIES Obioctivtt and activiti•9 for the public benefit In setting objeth'ves and planning activities. the Boar<1 has given caTefvl Ccnsidgratic to the Charty CoMmison'$ gener guidance on public benefft. Objects The objectives Of the Wokingham Watergde Certse IWWCI are.. To provide aCSSible, prestigious and a well-equipped facalty to all members of the local ¢ommunrty at affordable prices. To enable everyone to have fun whilst experiewng the challenge and exejtemenl of water sports in a safe and beautiful environment. The Centre m?9Mnt board established these objectives in 2003 when the Charity was lirst formed lo take ovèr thè management and direction of a custom built and eXllen1Y equipped water sportg enlre, set on a particjjlarfy beautiful Stretch of the River Thames, near Reading and Wokingham in Berkshire. Those objectives remain as relevant today 86 they did at the incwtion of the Charity. Alms ofth• Charity The C8ntre has always operattd the emphasis on ALL members of the local community. The Directors have always Sought ways to provide the requisite boats and thlities for the disabjed, the novice, the under-privileged and all sections of the community who have not h¥d the opportunity to experience water sports. The aim a3 well, is lo provide individua15 the confidence and the support they need to enjoy the challenge and personal salisfadion to be g8ingd from Ihese sports. Public Benefft The Centre works dosely wth all sectors of the Djmmunity providing numerous water actNty experience5, professional eoa¢hing. speaal needs events and preStiouS conferencing tsolilies to the general public and bu8iness at affOrdae Prices. Th¢ Centre has good links with a wide range of local charities. youth organisat¢ons and schools ¢overing all ages and abilitie5. Examples indude Berkshire scouts and guides, mainstream schools those schods catering for pupils with a Tange of edv¢ational needs. The Centre pridès its work in suppcrting peotAe 1th (Isabilities. The Centr• is based in Wokingham,. however, the facilities are not resIrted to people living In Ihe area arè availat48 for us8 by anycfje wshing to visit the Centre. The C•ntre has provided a base fcf runnlng natronal and l¢xal canoein9 c(npetitions also hosllng lo¢al, national and intemational rowFng reg*tas and dragon boating ev8nts. Grants have enabled a number of young people, some with Spe81 needs, to take part in water-based acbvities lch they olhemsè not have had acce88 10.
WokiNJham W8terwde Centre Limrted TTUStees rgport AGhiev8mont aTrd Performancè The Cènlre had 8 mixed first six months some periods ofwEI %sÈather but over81 actiwity booklngs $tood up raidyEll lo September. HoKÈver, river ter1eve have i)een al hi5torKalty high levels continuouY SITh eadyociober. preYenb"n9 8nywater actities on the Thames foTlhe last 6 months. The Centre'% finanrs %lISu8T seveiely should this conts.nue during the late Aprl Ihrough Septerr4Jer period. One pontoon has been undervrntErformonlhs 8nd 111 nee(1 exlen5i¥e repairs lonce it surf8cesll. The creasinG paltwn ofmixed Eatherha8 led to C8nlre explorfng off theWdreverience8, for in51ancp land-based orienteeriThJ and team 9arnps. Another do%sle Is the contiThJiny anti-8oual late evening car meets atthe newbut relatively unu8ed "Park 8nd Ride. car park. Thls has deffjonstrdbty delErred people from usin9 Ihe Inotabiyt comping fiejdl. Centre users do feel intitnidated. The website has been Lydaled partitxjlarty lo improve the onlinE booing system and the CenlrE h8S $een 8n Increase in rwm b)(l(ings. In 8ddilhin lo boat rnointenanr, the C8nlre has also dLe a lot of rk on the buildiro And surmundiThJ areas overthe p8ri00. The Centre has agreed that The De¥r£ lo Westminster Oryanisation IOWI con. at its expÈrt8e, remove the obj stDr?ge hui i the car part and replaGe Itwth their laryer slmpping rA)ntainer. This 5hwld have minimal impact on Ihe Centre buténable Ihe DW organisabon to rdlnquish a hired $lorage unft in Reading. The DW oryanisatson has been told thi$ %4il In(xJr a sm811 nI81 tharge (to bè agreedl. The holiday dub run by the Cernre wa$ eJtrernely active- parents could drop off theirthihlren lor day5 of aLYitieÈ knowing thattheirthildTen v40ukl enjoy waler-ba5ed adivilies in safety. Bookings ere a150 very good for Stand-up Paydle boarls and K8y8ks. The café down5tsir5 h45 been growg In 8UOZSs. brfngino in much needed revenue WBC have installed qb(Krt 100 ¥olarpanel8 on the mof of thè Centre has conderably reduced Ihe eleclriuty bill ollh(xJgh ihe Centre is awailirq folrnal connecbon lo the Natnal grid. WBC have ovéd away trom the alm of making 811 Ihe buildings in their e8iale'green" and nowtake finanual savings as their metric. Howthe Centre fits inwtth Ihis 15 Strfl wtsrk in progre88. The Centre15 anxious to replace the oj8nt LPO ceniral he8ng system wlh one that expl(Ats the ekdriLIty generated fr the 501arpanels F114ANCIAL REVIEW R8s&rvg5 Pollcy The Waiètside ctre.9 fil$ are hehy in reseNe 10 maintaiTr the buikling, faGilAies, and equipment for the pntiTE period of the full repairing lease. In previous years, Ihe reSee5 had been seriously eroded Lmrt had been built up again. Despite an intensive refvrbishmEM prograrnme is wgoingl, the Centre has managed tD avuid dipping into il'5 reserves. The Centre lo1 8tllacentto Centre thith the Chariiable Trust purthased in 2004. STRucniRE, GOVERNANCE AND MANAGEMENT Govarning Docurnent The organi5Htion is a thariiablè company limited by guarantee and registered as a thBtity w 20 Odober 2003. The n8m8 oftr* tharitable Company as listed in the Res451er of charies is Wokingham Waterside CenlTe Limited. The chjrilable company is govemed under Memor8ndum and Arbde$ of AssodaOn and in¢x)Tporaled on 15 Septemier 2000. The re9islered and prfnclpal address ofthe charty 15 Thames V811ey Path tkn've, Reading. Beth$hire, RG61PQ
Wokingham Waterside Centre Limited Trustees report Recruitment and Appoinlmènt of Director8 The directors are appointed from time to time by the Board of Directors of the Charity. Wokingham Boiough Council, Earley Town Council, Wokingham Canoe Club and Oracle Corporation UK Limited are inviled to nominate a director. The University of Reading and Wokingham & District Scout Council nominate directors each, subject to the approval of the Board. Independent directors are appointed where appropriate frorn time to time. Oryani8ational structure The directors determine the direth.on and general policy of the Waterside Centre in line yth the charttws objectives. Board meetings are held quartedy throughout the year The day to day management of the Waterside Centre is delegated to the Centre Manager and other professional staff who are in turn SUPPDrted by a number of volunteer staff. From 13th November 2016 day to day management of the Centre has been contracted out lo Cloud9 Pur5Ults Lld. Induction and Training When new trustees are appointed, Ihey ar8 invited to the Cgntre to see for themselves the activities of the Centre and the type of programs the Centre offers. These Inductions are typically run when ther8 are numbers of young people participating in programmes. Each new trustee is invited to attend a meeling at which the operation of the Centre is explained. In addition to the day to day running, this covers the administrative and control prOdUre5, the health and safety controls and the responsibilities of the trustees. Risk Managèment Cloud9 Pursuits Ltd carrie5 Out regular maintenance, bringing in extemal contractors as quired to ensure Ihe safety and reliability of the Cenlre in accordance wth the relevant legislation and the terms of the Centre's lease with Wokingham Borough Council. The Board continues lo keep the Centre activity under review, particularly regarding any major risks vknich rnoy arise from time to time. The major risks identified by this process have been mitsgated to an acceptable level by internal control systems, an Operations Procedure manual. insurance cover and other faclors as appropriate. The Centre continues to meet its statutory obligations under UK law, for example Safeguarding and Dats Protection issues. The Centre is inspected on an annual basis by British Canoeing to ensure that the OP8Tats"onal actNilies meet the standards required for the Centre to retain ils approved centre status. The Board regularly reviews the risk5 associated with a loss of funding froffl any of the major sources of income {e.g. sub under-lease holders). The Board ensures that the normal Centre operations generate sufficient income to meet the fixed and variable costs.
Wokingham Waterside Centre Limited Trustees report Reporting Accountants The Board of Trustees has appointed a local firm Woodwhlte Accountants Ltd as its reporting aOUntants for 2023-2024. The annual report was approved by the trustees of the charity on 141512024 and signed on its behalf Mr Antony Hayward Company Secretary and Trustee
Wokingham Waterside Centre Limited Statement of Trustees, Responsibilities Year Ended 31 March 2024 The trustees {who are also Ihe directors of Wokingham Waterside Centre Limtted for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statement5 1 accordance with applicable law and United Kingdom AcGounling Standards {United Kingdom Generalty Accepted Accounting Practice). Company law requires the trustees to prepare financial statementg for each financial year which give a true and fair view of Ihe 51ate of affairs of the charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements. the truste8s are required to.. select suitable accounting policies and then apply them congistently., observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent" slate whether applicable UK Accounting Standards have been followed, subject to any malerial 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 charitable company will continue in operation. The trustees are responsible for keeping proper accounting records which disck)se with reasonab18 accuracy at any time the financial position of the charity and to enable them to ensure thgt the financial statements comply with the Companies Act 2006. The truslees are also responsible for safe guarding Ihe assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitles. Approved by th trustees of the charity on 141512024 and Slgned on their behalf by.. Mr Antony Hayward
Woklngham Waterside Centre Limited Independent Examiner's Report To the Managlng TruBtO•$ I report to the trustees on my examination of the aUnts of Wokingham Waterside Centre Limited for the year anded 31 March 2024. ResponsIblliti and basls of roport As the chaTlty's trustees, you are responsible for tho preparation of the accounts In accordan ¥Mth the requireTnenls of the Charities Act 2011 1.the Act'i- I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed all the applicable Directions given by tre Charity Commission under section 145151{bl of the Act. Ind8pendont •xamineffs $tatsm•nt I have compkted my examination. I confimi that no material matters have ¢ome lo my attention Sn connection the examinali¢)n vknich gives me cause to believe that in, any material respect." the accounb.ng CordS were not kept in accordance 1th section 130 01 the Charities Act., or the aGGounts did not aCCd wth the accwnling record$', or the accounts did not comply wth the applicable requirements conceming the fom and content of accounts set out in the Charitie5 IAecounts and Repottsl RegulatlOll5 2008 other than any reqtjirement that the accounts give s 'lrue and fair, view which is not a considered as part of an independent exarnination. I have no concems and have come T03S no other matters in connection y the examination to bthich attention should be drawn in Ihis report in tsrder to enable a proper understandlng of the accounts to be reached. 14th M¥y 2024 Keith Westran FCCA ACA Chartered Ac¢ountant Woodthite Accountsnts Ltd Unit 4 City Limrts r<eading Berkshire RG6 4UP
Wokingham Waterside Centre Lirniled Stslement of Finanaal Activities forthe Year Ended 31 Marth 2024 Unvostrlctsd nds Rvstrioted lunds Tot•1 2024 2023 INCOMING RESOURCES Donabons and l¢gacie& Ch)ritable 8Ctivitses Investment5 Other income Total ino)mirvJ rÈ501Irt 553 230.534 699 553 23D,534 2,025 229.851 131 25.268 257,275 io 21.0 252 786 252 786 RESOURCES EXPENDED Raising fund5 Charitae activrhes Other expenditure Total re$our¢es eXpded 12 13 74,921 181,022 74,921 181.022 255,943 112,872 140887 253.778 NET INCOMING IOUTGOINGI RESOURCES 3.157 Transfrrb¢l*En funds NET MOVEMENT IN FUNDS 157 ,157 Bal•ne•• broughtforward ot 1 April 2023 117,444 BALANCES CARRIED FoRwAT 31 Mar¢h 2024 114,287 114,2
Wokingham Waterside Centre Limited Balance sheet as at 31 March 2024 (Registration number.. 04072775) 2024 2023 Notss ASSETS Fixed assets Tangible a$8ets Balance at 31 March 15 35,111 35,111 45,336 45,336 Current assets Stock Debtors Cash & bank Total 16 17 so 15,561 72,868 88,479 14,505 72,058 86,613 Curront liabilitles reditor5 18 9,303 14,505 74,505 Net current assets 79,176 72, 108 Total not assets 114287 CHARITABLE FUNDS Restricted fund5 UnrestrKted funds 114,287 117,444 Totsl funds 114287 117444 For the finanryal year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Cc#npani8s Act 2006 reloling to small companies. Directors, responsibilities.. The members have not required the charity lo obtsin audit of its accounts for the year in quesllon in accordanee th section 476., and The directors 8ckn¢)wledge their resKM)nsibilthe5 complying wrth the requirements of the Act wilh respect lo accounting records and the Preparation of accounts. These accounts have been prepared in accordance yth the prowsions applicable to c(xnpanies subject lo the small companies regime. The financial ststements were awroved by the trustees. aTrJ authorised tr issue on 1410512024 and signed on their behalf by.. Mr Ant ny Hayward
Wokingham Waterside Centre Limited Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUMTING POLICIES Summary of slgnlficant accountlng pollcies and koy accounting estlmatss The prtnGipal accounting poliaes applied in the preparation of these financial ststements are sel uJt below. These pdicies have been cons*entty applied lo 811 the years presented, unless olhemqse stated. Statement of Compllance The financial statements have been prepared in accordance Aunts"n9 and Reporting by Charities.. Statement of Recomm&nde(I Practi applicable to tharities preparing their accounts in accordan with the Financial Reporting St8ndard appli¢able in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151- {Charrbes SORP IFRS 10211, the Financial Reporting Standard applieable in the UK a1 Republic of Ireland {FRS 1021 and the Companies Act 2006. Golng concem The trustees consider that there are no material uncertainties about the chantys abilty to continue as a going concem nor any significant 8Teas of uncertainty that affect the carying value of assets held by the charity. Tanglble tlxed assets Individual fixed assets are Inillally recorded at cost, less any subsequent accumulated depreaaticn and subsequent accumulated impalment losses. Depreclatlon and amortl8atlon Deprecialion is provided on tangl8 fixed assets so as lo write off the cost or valuation, less any estimated residual value. over their expected useful economic life a5 followE: Land- not deweciated Fumiture and equipment- 15•M25% redu¢ing balanc& Stock Stock is v8lued 8t the l¢iwer of cost and estimated selling price less costs to complete 8nd sell. after due regard for obsolete and slow moving stocks. Cost Is determined using the first-in, first out method IFIFOI.
Wokingham Waterside Centre Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Debto Debtors are recognised al the transaction price prow5itin for impairment. A promsion for the impairnienl of debtors is established when there 1$ objective eden that the charity wll nrA be able to collect all amounts due according lo the original terms of the eNables. Cash and cash equivalènts Cash and cash equivalents comprise sh on hand and other short-lerm highty liquié investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Credltors Trade creditors are recognised inrtially at the transaction price and subsequently measured * arncrftised Cost Using the effedive interest method. Finan¢lal instruments Classificatlon Financial assets and financial liabilities are recognised vthen th8 chanty becomes a paty to the contractual provisions of the instrument. Recognltion and measurement All financial assets and liabi1it18s are initsalty measured at transacti price (including transact6on costs). Fairvalue measurement The best evidence of fair value is a quoted prica for an identical asset in an active m8rket. When quoted prices are unavailable, the price of a rent transaction for an identical asset PToMdes evidence of far value as long as there h8s not been a signrficant change in economic circumstances or a significant lapse of time Sin the tr3ns8clion look place. STAFF NUMBERS The average number of persons employed by the charity during the year Is 012023- 01. STAFF BANDING No employees recwved employee benefits of mc*e than £60.000. TRUSTEE REMUNERATION AND BENEFITS None of Ihe trustees have been paid any remuneration or re1Ved any other benefits from an employment wf(h the charity. TRUSTEE EXPENSES No trustees were reimbursed for expenses in the reportiro pericxj. RELATED PARTY TRANSACTIONS There were no related party transactions in the reporting pèrityj.
Wokingham Waterside Centre Limited Notes to the Finanaal Statements fcf the Year Ende(J 31 March 2024 Unr••trictèd nds Ruts%ctsd funds Tot•1 2024 2023 7 INCOME FROM DOMAIION8 LE¢3ACIES other Income from Donati$ and Legadeg 553 553 2,Q25 553 553 R8Strl¢t•d funds Toial 2024 nd¥ 2023 B CHRITLE ACIMnES INCCWE Prwsion ofCowse$ Eola Income Catering 8nd Café Carnpiro 8Th1 Slwway Fees 163,208 e1.496 4,623 200 290 717 163.208 61.4 4,623 2ty) 201169 15.215 5469 Other sei¢8s 717 230 534 230 534 229 851 Urfftstrbcied nd• Regtylctod lund$ Total 2024 2023 9 IPIVESTMENTINCOME Bank Interest 699 699 131 699 699 131 Unvgslrfttsd Rutrlctod ILrnd8 Totsl 2024 2023 10 OTrERINCOME Rentd Income 21,000 21,000 2&268 21.000
Wokingharn Waterside Centre Limrted Notes to the Financial Statements forthe Year Ended 31 Mar¢h 2024 Unvothrted rund rund5 2024 2023 11 COSTS OF K418ING FUWDS 19 19 UThreylri¢knJ fund¥ fvnds 2023 12 EXPENDITURE ON CHARITABLE ACTMTIES p610 of Course9 C4tering and Cafè 71,036 3,685 71.036 2.865 104652 4,220 74 921 74 921 112 B72 I1Cted funds To 1014 funds 3039 13 OTHER EKPENDJTiRE C&nlre maemsl StAff Tralnkn9 Rent Venu8 Hlre 61322 75 568 7S 75 544 120 9.956 Lipht. Heat0 POr IrArce Repairs MwnteDanc T4hone3nd Fax Ccfflpuier Software Mainten8llC¢ LfSt5 Prinllw. Po8r8ge Sticrery Licencesand Subsmpiions Card Mathine Hirè Sundry Expenseg Clewill9 Travd and Sub¥¥wKe AtUnncV Fee$ Le9d and ProfespAoYW Feeg OffiEE Ènd General A&rini8trwi Expenses Bank Ch8rS Depreation. amNhsatirAI and ctwwMiLqr4ts Bad Debt Exwse IProfitllLo86 on DW cfassets 4.2DO S.052 17.707 4.20D S.052 17.707 837 19.14Z 358 1,641 1,616 287 7.318 498 1.249 1,089 19 7,021 e3 3.510 2.936 2.472 9U 14,833 1.249 1.088 18 7,021 2,510 2,936 2,472 2,078 98 11932 14.835 181 022 181022 14D B87 14 INOEPENDENT EXAMINER FEES Induded wthin accuunuty $CeS i9£1,WO re119 b) fttsf¢rlhe IndepBndwrt EwAmlner{2023'. £1,680).
Wokingham Waterside Céntm Limited Notes to the FlnaThSal Statements for the Year Ended 31 March 2024 16 FIXED ASSETS Land and Bulldlt)gs Fyrniturv and equlpment Total Cost 011 2022 AddSttons ITht year Disposa15 In the yaar 17,181 IC6,897 124.078 4,608 C05t at 31 Mayth 2024 17.181 111,505 128.686 Depreciab'on 511 A1 2023 Ehmination on dl$posal Charge for Ihe year 78.742 78.742 14.833 14.833 Depreclalknn gl 31 March 2024 93,57S 93,575 Nei bod( valup at 31 March 2024 17,181 17.930 35,111 NeI&k ot31 2023 17,l$t 28. 155 44336 16 STOCK Z024 2023 Slocks 17 DEBTORS 2024 2023 Trade Debtors PrepaY[ntS 1,850 13.911 15.561 11.819 2.686 14.505 18 CREOITORS 2024 2023 Tr8de Credito Olher Credrtors Accruals Cwerred Income 2.252 426 6.38> 5.438 I4.5 456 7.407 9303
Wokingham WateTside Centre Limited Notes to the Financi81 St81ements for the Year Ended 31 March 2024 19 STATEMeNT OF FUNDS 2024 ExponBe Op8ning In¢om¢ Trnn8f8r inllout C109ing Unrestricted lund$ General 117.444 117,444 252,788 252,786 255,9431 1255,9431 114,287 114,287 Rtstrlcted lundB Totsl offvnds 117444 252 786 255 943 114287 2023 Opening In¢omo EippnsE Transfer Inlloutl Closlng Unre¥t¥lcted fvnds General 112,947 112,947 257,275 257.275 253,7781 1253,7781 1,000 1,000 117,444 117,444 R•$trlcted funds 1.000 1,000 1.000 11,0001 Total of fvnds 113947 257.275 253 778 117444
Wokingham Waterside Centre Limited Notes to the Financial Stalements for the Year Ended 31 March 2023 Restrl¢ted funds During the year no restri¢ted donations were receNed. 20 ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Restrlcted funds Unregtrlcted lund$ Total Tangible fixed assets CuThent assets Credrtors due wtthln one year 35,111 88.479 19.303) 114,287 35,111 88,479 19,3031 114.287 2023 Re8trictpd fund$ Unrestrlcted lunds Tol#l Tangible fixed assets Cutrent 8ss¢ts Creditors due within one ya8r Creditors due over one year 45,336 86.613 114,5051 45.336 86,613 114,5051