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. Hay￿￿rd 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 Ch*ities.' Statement of RecommèThJed Pracb"ce applicablè to charities preparing their accounts accordance with Ihe Fin￿tt31 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 CoMmis￿on'$ gener￿ guidance on public benefft. Objects The objectives Of the Wokingham Watergde Certse IWWCI are.. To provide aC￿SSible, 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￿?9￿M￿nt board established these objectives in 2003 when the Charity was lirst formed lo take ovèr thè management and direction of a custom built and eX￿llen1Y 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 preSti￿ouS conferencing tsolilies to the general public and bu8iness at affOrda￿e 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 resIr￿ted 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 Spe￿81 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 raidy￿Ell lo September. HoKÈver, river ￿ter1eve￿ have i)een al hi5torKalty high levels continuou￿Y SITh￿ eadyociober. preYenb"n9 8nywater acti*ties on the Thames foTlhe last 6 months. The Centre'% finanr*s %￿lISu￿8T 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 theWd￿reverience8, for in51ancp land-based orienteeriThJ and team 9arnps. Another do%￿s￿le 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 boo*ing system and the CenlrE h8S $een 8n Increase in rwm b)(l(ings. In 8ddilhin lo boat rnointenanr*, the C8nlre has also dL￿e 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 aL*YitieÈ 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 con*derably reduced Ihe eleclriuty bill ollh(xJgh ihe Centre is awailirq folrnal connecbon lo the Nat￿nal 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 oj￿8nt LPO ceniral he8￿ng system wlh one that expl(Ats the ekdriLIty generated fr the 501arpanels F114ANCIAL REVIEW R8s&rvg5 Pollcy The Waiètside c￿tre.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 reSe￿e5 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 lo￿1 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 chari￿es is Wokingham Waterside CenlTe Limited. The chjrilable company is govemed under Memor8ndum and Arbde$ of Assoda￿On 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 y￿th 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 prO￿dUre5, 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 a￿OUntants 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 a￿Unts 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 $tatsm•nt I have compkted my examination. I confimi that no material matters have ¢ome lo my attention Sn connection the examinali¢)n vknich gives me cause to believe that in, any material respect." the accounb.ng ￿CordS were not kept in accordance ￿1th section 130 01 the Charities Act., or the aGGounts did not aCC￿d wth the accwnling record$', 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 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