Charity Registration No. 1107746 Company Registration No. 05322409 (England and Wale51 OLD ALBANIAN SPORTS ASSOCIATION LIMITED TRUSTEES. ANNUAL REPORT & AUDITED GROUP FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Faulkner House Victoria Street St Albans Hertfordshire AL1 3SE Rayner Essex LLP Chartered Accountants
OLD ALBANIAN SPORTS ASSOCIATION UMITED CONTEp¥fs OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Reference and Administrative lnfoffit Direcaors, and Trustees. RepK¥t Independent Aurfrtorfs Report 8-10 Consdidated Statement of Finanual A¢Nrbes 11 Consolidated Balan Sht 12 Company Balance Sheet 13 Consc4idat8d Ststement of Cash FILy• 14 Notes to the Finanfial Stslements 15-27
OLD ALBANIAN SPORTS ASSOCIATION LIMITED REFERENCE AND ADMINISTrATIVE INFORMATION FOR THE YEAR ENOED 31 MARCH 2025 Tntstee5 ARP M(£. Trustee 8ThJ Chairman ME Fist%r. Trustee AM PhIll. Trustee DCH Hughes. Trustee DR Goodr. Trustee PM RKhardson. Tw51ee SE Bachmann. TnJst8e MP Nby. Trnstee PA Quinn. Trvee Cornpany reglstr•tlon numb•r 05322409 Charity r•glstsatlon numb•r 1107740 Prlnclpal and r•glst•rnd offi¢• The Pavillion Woollam plan9 F HaeTh•n Roa St Albans Hertftydshir• AL3 688 Ind•p•ndent Audltorn Raynei Essex LLP Faulkn¥r Hou Victor4 Slffjot SIAlb¥r Herfford5hYe ALI 3SE 8ank•rn HSBC 3? CQuer Street Sl A¥fi$ Hertfortlsh ALI 3YN Sollcltors Sherr¥rd5 4 Beaconsf*k1 Roaa Sl Alba Hertlordshwe AL1 3RD Page I
OLD ALBANIAN SPORTS ASSOCIATION LIMITED REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDEO 31 MARCH 2025 The trustee5 are pleased lo present their annual direcsors. report logetherwith the fxjnsoiidaled fmanoal siaiemenls of the charity and ils subsidiaries for the year en(Jed 31 March 2025. This report Is the Directors. Report qUire(l by $417 of the Cornpanies Act 2006. The lin8ntJal slatemenls have been prepaied In a¢mIdan wrth the atounkng polic4es sei oul in note 1 to the financial staterrn1$ and comply with the Memorandum aThJ Artic$ of A$5walh)n, the Compant5 Act 2006 and-Awounling and Reporting by Charities Stalernenl ol Recommende( Practi applicable to tharrts prepanng their 8ttoun15 in accordance with the Financial Reporting Standard appl¢able in the UK and Repvblicef Ireland IFRS 1021" leffece 1 January 20191 OBJECTIVES AND ACTIVITIES ObjeG¢lves of tho charlty and actlvities lor the pU1C benefit The charity 1$ a company limited by guarantee The charty's obiecti¥es a The prornolion of rmrUnIty partic1paiJ in heahhy recfeatK)n In particular by the provi5Kin of faIrtS for mombers of the public lo engage In team sports, alhlics. fitne55 training and other forms of physical recoalion To advance Ihe educa1n of young person's atttnding xoob. col9es and unwersrte$ In Sl Albans and the Surrounding area by ensufing that due all¢nlion 1$ gNen 10 their physKal ¢Je¥elopffeni an¢ 10 a551sI In Ihe vrgantsath)n and provision uf facilities ¥Yhi¢h will enable and encourage pathcpaiKJn by such Ferson$ In phy51cal recfeaiion and $port In the Interests of $oual weware lo orgafioe or provJe fae41it$ for reu88t foi pernon'$ resident In St Albans and surrounding areas who by reason ol their youth or social and e¢onoM Orcumstan$ have ne•d ef such faolili8$ wilh the objec of Improving Iheif condrtion5 of bfe. The tiusiees that they have refened Io the pvidart contained In the Charty CommBsion'$ 9en•ral guidan on public tnefil when reviewing the aiftK8 and ebjecbves an¢J In planning attiyilies The principal aaivity of the charity in Ihe year In order to fvrthei it5 obJeLi¥es wa$ to provide hvah stsndard l•cililie5 foi the lo1 ¢ommunily lo part¢ipate in Sporting By the piowsDn of these hioh Standard fa¢drts. the Charty remains able t¢ fulfil ils obie¢iive$ P&Je 2
OLD ALBANIAN SPORTS ASSOCIATION LIMITED REPOR T OF THE DIRECTORS AND TRUSTEES ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2026 STRATEGIC REVIEW Roview of Activities The charity, which operates a5 "OA Sport- and its wholty owned subsxlwry. Ohy Albanian Sptyrts Club Limited, own and operate modern field 5POrts facililies at Woollaffs which opened in 2001. The ¢h¥rity pro¥#Yes prtthes, trainiry faali1$. pavilion thanging rooms. bar, catering and sotsal areas for members and guests of the foltying dubs Old Albanian Cricael Club Old Albanian Tennis Club Albanian Club Albanian Rugby Football cb, Iwhk irrfthJde5 th• Albani•n Mini Junior RFC and (Id Albanian Saints. lad$ njgbyl Local Adult Groups Woollams 15 a15e the training base for Saracens RFC. The Truslees are pa$ed to announ that this arrangement 15 in the proce$$ of being extended through to March 2028. Fac4rts are also provhyed to othei sports dub5 3nd for represeniotiwe fLxlure5. During the peiiod, th• Ch8rrty began to provNle its I81rtS to Wi(aor P8rf< Flts811 Cl+ la youth Football Clubl and to Old Albanian Football Club, thus bringing another Ok4 Abani?n Club hon. The ¢harity sims provKle pl8ying faolrt$ to a high standaftt lor pkyers of all abilrties and therefore operates a continuou$ and cornpr6hen$ive programme of prtch mainten3n and renovation The pa¥ilTr)n and prtche$ aro aL80 hired lo third parthrys for a r3ng8 of busine and $OCKg1 functons. The Charity plans lo coniinue wrth 115 al to generate annual u$h surpluses to faalit8le an ongeing programme gf major rnaintenanc. The Tru51ee5 do not see any expansion In the range ol objeclwes thai rt pursue5 and intend lo ensvre ih¥i the facilrty is Used as much a$ 1$ possible They Conlin to examine diffefeni availab funding styeoms, 10 ensuFe that they can Continue to make the faGililies availabb 10 the local comrnunty. The Charty's lacilrti?s are much In dernand due lo thwr high slandard and In the local area ale fegafded a$ the best The charity works hard to m8inlain the $1ondard and lo expand as mvth as p05SItAe the opwrtunrtie5 for use. havin9 re9¥rd to maintenance requir?ments. The Trustees ¥yOu con5hler th81 Ihe charty meels Is obJeth¥es whKh Is dernonstia by th8 large number of participgnls that use the faalilies throughout a nomial week, approxirnatety 2.500 people. involved In both tyaining, pKgyng and supportin9 The facility, ha¥ing reached Capacty. k8 now Managed by the Trustees for Ihe lon9 term with strorvJ ward gIn lo the ongoing maintenance and refurbi$hrnenl During the year the charty not undertake arry external fvndai$ing aLINStswth donaDons bèing reNed from mèmber5 The Charity generates the majorty ef rts Income from sale$ auoss rts bar and food bvsine55. and frem makinll fa¢ilrty charges to the sports Clubs and 10 3rd partie5. pfincipalty Sar•cen5 RFC. Thus. it L8 In Ihe H05Prta1ty Industry and Ihe Property rental Industry H05pilalrty remains a ¢haNen9irrtJ industry to be in with Ihe Impact on spe11 patt•m8 seen qurte dearfy wrthin the Charity Th¢ Trustees consider that part of the Issue here k5 a delayed response to peoples spending habit5 as a rosu1t of the cost of living cri5i5. which is ongoing. The Chanty Is deperyjtnl upon visrtots to ts laolty In order to generate sale5 and has seen a downturn in 5u¢h spending during the year The tharrty has rts day-tfyday maryagernent (x)mtnenced a thorough review of the business along with Seeking to cut costs Whe possib. bearing In mind Ihat a faolrty of Ihe St¥ of Woollams cames a $ignthcanl fixed cost The Tru51ees appointed a profe55ional b0Okkeer after the year end and sutte55fv11y inSts1 a new Point of sa* system during the year. Page 3
OLD ALBANIAN SPORTS ASSOCIATION LIMITED REPORT OF THE DIRECTORS AND TRUSTEES ICONTINUEDI FOR THE YEAR ENDED 31 WIRCH 2025 FIWINCIAL REVIEW Review of linancial position The funding of the charity comes prinopalty frorn fatyfily charges and donaln$ In addition. the thantys wholty owned subsidiary. the Old Albanian Sports ClJb Limrted, operates the tt>rrKnercral trading athrtEs of Ihe group al Woollams. These are b2sÈd on hiring the Pavilion to third partS for a range of business and sor3al fvncions. The Charity has seen 8noiher drfficun year In terrns of trnding and remains of the VEW that hospitality and thu5 It5 busi$$ 2divilies are impacied by the cost of Iniing crisB, w1th partiojlar letsren to revenue generated by 3r($ paty hires foi partEs. whLh has reduced This Is evidenced by a downlum In the number of functK)ns wrth lower p$ being offered lo attract busines5 and frll the venue In addition lo these factors. there has teen 8 wntinued reduttn In bar and restaurant spÈnding by these who use the facility This coupled with increased costs has led to a dtrwnturn in gr055 profrt margins acxess the business. The 5talemenl of finanal adiwties She that resour$ expendeLI eXded inrnIng resour(Es by £217.686 12024. £274.3691. Nei outgoing resourtes for the year before depreciaiion and loss on POs81 of fixed assets amounted lo £42.438 12024." £94.8161. The bÉlÈn Sheet Indicates that loial fund5 of the group were £4 223.886 12024 £4.441.5721 of which £llil were restricted funds 12024 £nill These were represented by tangib fix assets of £4.323.643 12024 £4.494.3431 and nel current liabilitie5 of £99.75712024 £52.0011. Since the year end the tharty has cOntM with its ac¢wrties and conlmues trj explore If possibility ofexpanding the sports that use thè facility. The tharity is also undertaking a thorough review of the chantys business attivilies to ensure that all faTrts of the operations a effluent and can hèlp [rve the thaiity forward. The review of the bUTreSs is ongoing anLI inejudes folkin9 actK>llS to irnprove the finanoal position." OASA cost reduction" Dunng the summei of 2026 the Opwations Boafd inir(KJuceLI a new operatin9 mod&l with 55 relian( on the profe5810n81 tearn and a re(luclion In t3 count with more volunteers Sour from the sports dubs. The tasks for ¥olunte&rs include b8r servi, table dear¥ll at sporting fvncth)ns. deanin9 and external mainknanrE. Full review of all Maintenan contra(ts with a largel of a 10% Edu(Aion w overall spend. A full review of the pitch mainienanTr programtne and spend ts being Condu¢X ntratity on value for mney and ensunng th31 the Pitch mainlenants programrne i8 more foojsed and efficEnt Compelrtive tender program to MaXTh value fmm Ihe Statutory audrt requirements OASA 8ddilional Income generatson. Review contributsons from the sport5 Clubs with &gnfficant Tnueases proposed with effect from 1st Septernber 2026 New S2rathn5 ase a9reed in pnnryple untsi March 2028 ore focus on hosting 3rd party events suth as weddings. annwersarEs and wakes. Introduction of P8del. whith 15 subjed to gainiry planng nSent. and finalising temis with a potential padÈl operator. It should be noted thai should th proceed. rt woukl t¢ al the expense of some tenni5 prowshjn howeverthe Iirnfted income from tennis shouhj be maintained Sourong further bans and donats)n5 from supwrtet Prosped of property gain Durin9 the pÈriod the Head Lease wrth St Alb3ns Schwl was varied to allow for the possibility of some of the Charity's land being used by the landlord for a property development The varied lease proletts the tsolilies al Woollam5 rnaking It dear that the Charity cannot be moved from any pitches impaded unbl rep1atsnI prtches are availabk on adjaonl land to the tUrt srte The Ch2rty will also gain finanoalty from any sale of the nd rt gives up b. Going concern After m8king appropnatè enquirEs. Trustee5 have 8 reasonab expe{tstn that the tharity has adequate resources to continue In oper81itsnal exislente for Ihe foreseeable future. This expeclalion ts based on secJJring sour$ of funding frorn within the 5POrt5 dubs. support base. whith slarte(f after the yeaF end and ¥Yhich remains oTrJoing. and from the SusSful impleffÉn12tion of the actions detailed above For this reason. they continue to adopt the gomg concern basi5 In prepariry the financial stalements Nevertheless, the trustee5 recognise the exisl&nts of ongoing thallenges regarding goin9 ttJn(Etn, yel remain confiLnt Ihai the going concern basis remains appropnate Further detai15 regarding the adoption of the going (x)rrn basts can bE found in the ac¢y)unlirrfJ politi2s. Page 4
OLD ALBANIAN SPORTS ASSOCIATION LIMITED REPORT OF THE DIRECTORS AND TRUSTEES ICONTINVEDI FOR THE YEAR ENDED 31 MARCH 2025 Reserves policy 11 is the policy of the d)arty that unferioled funds whith have not been de5vJnalefj for a speufic use should be maintained al a level equivalent lo three and six monih's expenditure Th8 Iru51ees consider that reseNes at this level will ensure Ihai, in Ihe eveni of a 5KJnffjrAni drop in funding. they will be able lo continue the chaniy'5 current activities while con51der3lh)n 1$ gNen lo ways In whrh addrtional Ivnd5 may bè raised. This level of reseNe5 has not maintained Ihroughoul the perd and Ihs remains a bnyer lerrn target d. Investment prwern and policy Under the Mernoran¢um 8nd Artides ofA55Qat)Tr. the charity has the er lo invesi in any way the Iru51ees w¥h 8. Rl$k lactor8 The Iru$iees have assessed Ihe malor risks to whi¢h the chamy 1$ expoB•J and ty saIrsfd that SySlem5 are In prE lo mrtigale OXPOSUfe to Ihe major ri$k5 The Trustees Consider that the primaty lo whith Ihe charrty is expos•J k8 that of Ihe buiJJin9 at the h8•rt of Ik¢ faality being unavailable due lo an unexpected eveni The Tru$iees regard thi$ eventuality as ¢nttal lo the opef•lion that the charity undertakes and in order lo miligale this have a maintenance pro9ramrr In Pla lo ensuie thai Ihe buik1ing 1$ well rnainlained and ha5 adequate insurance 10 ensure thai rf such an e%ent eccurs the ehanly Is well placed to protect ds poytion and mininise ony impact. The Trustees ieview the In$uran¢e each year to ensure thal rt Is l. Asset cov•r for fundo Thè chariV$ unr•slricled lund$ are prin¢palty ropresenle4 by th• Woollanu $1• and related op•ra'onal assets Whit8t these assets Pfo¥e substantial asset backing. Ihey are noi readity con¥efliNe into cash Attordingty. the Iru$tees monrtor INuidily and cash flo closely and have Impmented the measures descrid etsethere in thts iepcsn 10 slrenglhen Ihe eharily's fin4n¢i•l poSitn and iupport rt$ ongoing operation5. STRUCTURE. GOVERNANCE AND MANAGEMENT a. Trust¢os The Iru$tees, who akn the directors forthe purpose ol ujrnpany l•. who serveil durir4 the year we N Halklt, Chairman De(as•d 10 July 20241 AJ Philpott. Secretary IRe5uned 19 March 20281 RC Milnes. Tru$iee IRe51gned 31 May 20241 ARP Mccree, Chairman CMA Hodge, Trusfre bAE Fisher. Trustee AM Philpott, Trustee DCH Hugtte$, Trustee PG Lipscomb, Trustee OR Goodier, Trustee PM Ri¢hardson, Trustee SE 83chmann, Tru51ee MP Newby, Trustee PA Quinn, Trustee (Resyned 28 Delxrrthr 202SI (DeaSed 13 Novener 20241 IApFointed 16 Seplemter 20241 IAppointed 08 April 20251 (Appointed 07 January 20251 The Trustees meet as a comrtlee of management al quartwly Inier¥als lo re&v al¥llS and a finanDal report None of the Iruslees has any benefioal interest Jn the mryany. Al ol the trustees a¥e rnber8 of the company and guarantee to contribute £1 in the eveni of a winding up b. Appolntment of trustee$ As set cut in the Artrks ef AssoryaiioTh the trustee5. who fomi CLYnmitteÈ of Managernenl. are appointed as follows. The Pre5Klefjl, TreaSur an¢J Seuetary ofthe Okl Aban4an Chjb Two persons nominated by the CoTnmrttee ofthe Okl Abanian Rugby Football Club One person norninated by the Managempnl Commrttee of ltte Ok1 Albann Cricei Clvb Up lo five persons neminated by the Old Albanian Club Page 5
OLD ALBANIAN SPORTS ASSOCIATION LIMITED REPORT OF THE DIRECTORS AND TRUSTEES ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 c. Organi5ation The ch8rty 15 governed by its memorandum aAd ath.des of assoualH?n dated 15 November 24 The trustee5 h8ve control of the charity and rts property and fund5. The Operations Board 1$ Glaryed with re¥Onbility for the conducl ol Ihe tharrtys opgraiion$. This Boord ha5 appointed extra embers posi yearend lo assist In the ChaInge5 Charity frdces. The chalknge5 fad Ind an ageing buikjing, increased pitch Maintenan i$$ue5, and the Impact of the ongoing cosl of INin9 cr15. This has resued in a more foryJsed rnanagerrenl of Ihe Ch3nty on a day lo day basvs and a rn)wng I08rd in the Charty's performan. This OperatK)n$ Board meets on a rnonlhly ba$s aTrl report$ 10 the Commrttee of Management on a quarterly basi$ al their regular meetings. The Operabons 8oard L% aLs0 Inwold in planning for the ffulure aTrJ looking al the oppOrtUnrt for th8 Charity which il then ieports lo the Trustees with appropiiale recOmnans d. Tru$ts• Inductlon •nd trainlng New IruslÈes underge an onenlatK•n wogrnnym lo brf Ihem on Ihew al rt1¥3ts'ons unifor charity and company Liw. the content of the Memorandum and Article5 of Assooabon. the OFerab"on ol the Commrttre of Managernenl, decL8ion making precesses, the business plan and receni finanaal perfom3nce of the charty Dunng the InductKJn Iruslee$ meet key ernploy&e5 and other trustees. Trustees oro eneournged lo att•nd appropiole e8rDa1 Iroinir4 events ere Ihese will faulilatè Ihe undertaking of their ro. ¢. Management r•munoratlon trustoe Indemnlty Imuranc• The remuneration of key man#gem8nl wth bx•l market con#itW$ alld 18 reviewed each y88r The <rty has Iru$tee Indemnity In$urance in place. f. Related p•rty relatlon$hlps The Charrty's wholly owned Subsl0ry Old Abanian Sports Club Limited IOASCI ¥Ya$ established lo operate the commerual bar. restaurant and fvnction facilities. 11 also pro¥•Jes laolrtie$ lo the Old Albankgn Rugby. Football. Tenni8 and Cricel Clubs OASC donates ils profil8 lo the Charty. g. Flnanclal rlsk managemont The Trustee$ have assessed the major ri$k5 to which the Group and Ihe Charty are exposed, In particvlar those related 10 the oper8lion$ and finances ofthe Group and Ihe Chaity. and ¥t• salfd thai syslem5 and proc¢duf85 are In plao te mitigate exposure to the major ri$k$. Plan8 for future perlod8 Th¢ Trust8 continue lo manage the lacility to ensur¢ that fft for wrpose and I exploring rt8 use by other sports and organIsatn$ Since the balano sheet (late maMlenance works have continued to en5uie that Ihe faolrty is fit for purpose They are 01sg focuyed on en$uring Ihal the revenue streams requxed lo lund Ihe faolity a monrtored and new sources Ihoreughly exHmined. Page 6
OLD ALBANIAN SPORTS ASSOCIATION LIMITEO REPORT OF THE DIRECTORS AND TRUSTEES ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Statement of dlrÈctor5' and trustees. responsibilities The Iruslees (who are also direthors of Old Albanian Sports A8s¢)tiatton Limited for Ihe putpose of company lawl are rÈsponsible for preparing the trustees report and fin8nts81 stalenEnls In acLYJ¥dance wrth applrable law and United KingLlom Accounting Standar(Is (United Kingdom Generally Actrpled Arunng PtaLlrel. Cotnpany law requires the truslee51o prepare financial staterrents lor eath finanttal penoj whith give a Irue and fair VEW of the stale of Èffairs of the chafily tpanY and the group and of the incorning resources ad application of resoUrS Including the Income 8nd expenditure. of the chanty MpanY 3nd the group for the penod UThJer company law the Irts5tees must not approve the fin3noal slalements unless they are satisfied thai they gwe a true and fair of the state of affairs of the company and the group and of the nel movement In fund5 for that per. In prepar9 these accounts the trustees are required to". SeCt suitable accounting poliaes and then app them consientty". obsèrve the methods 2nd prinUpS of the charit SORP IFRS 1021. make iudgemÈnts and eslmales thai are rE3sonabÈ and prudent. stale whether applicable UK Accounting Standards IFRS 1021 ha% been fvlowed. subject lo any rnateri31 departures disclosed 2nd explailled In the financial 5talerTEnts. and prepare the financial statsmEnls on the gTr) certr ba51s unkss rt is inappropnale lo presume that Il Group will continue In business The trustees are responsib for keeping 3deqvate acfxjuntrng records that a sufftnt 10 Show and explain Ihe cotnp3ny's 8nd group's transactions and disdose wrth reasonab a(xuracM al any lime the financial p05rtK>n of the company and the group and enable them lo ensure that the financpal Slatefflents comply with the Cotrpanies Acl 2006 They are a&0 responsibÈ for safeguarding the assets ol the charity and hen for taknng rea50nab* steps f(>r Ihe prevention and detedion of fraud an(1 other Irregularities Ill a(Idilion. Trustees Conffin that., in exercise of their powers as eharty Iruslees. Ihey have had due regard to Ihe publis1 gUKlan from the Charity Commission on the operation ofthe publ benefrt reqtsirements. and the aims of the chanty are carried out ftir Ihe public bene Disclosure of information to auditors Each of the persons wh0 3re Trustees at the time when Trustees. Report approv1 has confimied that". so far a5 that Trustee Is aware. IhÈre is no relevant audit InformalK of whth the Charitab c(Thpanys auditor B unaware, and that Trustee ha5 taken all the steps that ougm to have been taken as a Trustee In order to be aware of any relevant audit Information and lo estsb115h that the Charrtab 9roups auortors are aware of that InformatKIn. Auditors RayTrer Essex LLP were 3ppointed as auditor to the company and a resolutK)Tr proposng that they be re-appointed will be put al a Gen&rÈl Meeting. Approved The tru ees. re was apwoved by the 803rd of Trustees ATh1 Direclors and signed on its bÈhaW by AR Mccree Ichairrnanl Director and T stee Dale.. Page 7
OLD ALBANIAN SPORTS ASSOCIATION LIMITED INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF OLD ALBANIAN SPORTS ASSOCIA TION LIMITEO Oplnlon We have audrte(I the greup and tharrtab parent cornpany finanfial Stslerrenls ol Old Abanian Sports AssouatKin Liniled Ilhe 'charity'l lor the year ended 31 MaTth 2025 which tornpfise consolidated slalemenl of finanoal activrties. the eon501idaled balanc sheet. the company balance sheet. the consolioated stalemenl of cash fl¢yws and the notes lo the financial stateTnent5, Including a summary of signifi(nt accounting poli¢E5 The finane4al ¢Èporting fraork that has been applwl In their preparaiion 1$ applicable law and United Kingdorn AccouniiNJ Standards. Including Financial Reporting Standard 102 The Financ[ R8POrting Stsndafd applicable in the UK and Republ ol lieland (United Kingdom Generalty Accepted Accounting Prattice). In our opinion. the finanual statements give a true and lair View ol the stste of the gfoup and Ihe charitab affairs a$ ai 31 March 2025 atKI of the group's incoming re$ources and appli¢¥iion of resources. for the year then ended." have been properly prepared In accordance wrth Unrted Kingdom Geralty Accepled AOUntyng PraclKe'. have been prepared in accordance Mlh the iequireftnls ofthe Compans Act 2rx16 Basls for oplnlon We conducied our audit in accordano th International Slan¢Jards on Audibng IUKI IISAS IUKII and appliclbk law. Our respon51bililies under those standards are further described In Ihe Audilorfs respongbilrties lor the audrt ol the financial stslewnis section of our report We a independent ol the group In accoidante wrfh the elhic41 requirements th81 ale relevanl lo our audit ol ihe finanaal siaiemen15 in the UK. IndudiryJ the FRC'$ Ethal Standard. and we ha fulfilled our other elhic41 respon51b1litS In accordance with the88 requifemen15. We belVe that the audrt eTrden we have oblaird $UfficnI and 8ppfopn¥ie lo provhje basis for our opinbn Conclusions relotlnB to golng coneAm lfj auditing the financial slaiemenis, we haw condud¢d Ihat Ihe tru$tee$' use of the gomg wi¢•rn basis of accounting in tha preparation of the financial Statents 6 appropriate 88sed on the work we have perfomd. we have noi hjenbfvd any marial unc•rt8inlies ling lo ew•nts or Conditions th81, IndivKJu311y or Co1CliVely. may cast sKJnificanl ¢Joubt on the 9roup'5 or the charrty'$ abilrty to Contin a$ a going concarn Igr a period of ai lea51 e1Ve month$ fiorn when the finanoal slalemenis a authorised for Issue Our responsibilit5 and the SponSIbIlitIeS ol the Irusieos and direoors with re5P8Ct 10 goit19 ¢one•m are described in tho relevant section$ of this report. Oiher Information The other Infomalion cornprises the inlormaiy)n Induded In Ihe annual report Other than the f nanaal $taiemen15 and our audiiorf$ report Ihereon The Iruslee$ and dir8d0 ale fesponsible for the Other Information contained wrthin Ihe annua1 report Our opinion on the financial Slalemenls not cover the ottsf Infomiation and we not e¥pres8 any lomi of a$$uranc• condusien Ihereon. Our responsibility Is io read the other Inlomaliw and. in dofftg $0. consh1er whetheT the other Infomialion Is rnalerially Inconsisleni with the finanoal slaiemenls or our knOwdge obtained ln the WUf5e ol Ihe audrt. or otherwise appears 10 be maienally rnisslaied. 11 we Idenlrfy such material Inconsi$iencie5 or app8nI material misslalements. we are required to detsrmine whether this gives r15e lo a rnaterial missiaiemenl In the financk21 Slatefrents Ihemfve5 If. based on the work we have pertomd. we ¢X)ndje that there Is a material rnisslatemeni of thi$ olhei Infomation. we are required to that fact Vve have nothing to report in th ward. Page 8
OLD ALBANIAN SPORTS ASSOCIATION LIMITED INDEPENDENT AUDITORS. REPORT ICOPITINUED TO THE MEMBERS OF OLD ALBANIAN SPORTS ASSOCIA TION LIMITED Mattels on which we are requlred to report by exception In the Iighl of the knowledge and un(lersianding of the group and the tharitab ¢x)rrpany and its env1ronftI obtained In the course of the audit. we have not h#entsfied maierkql ffltsstalements irb Ihe diredors, and tru$tees' report We hawe nothing lo report M respect of the follLwin9 Fnalters In rela"On to which the Companies Act 2LK16 require us lo report lo you If, in our opin adequate and preper accounting CordS have nol been kEPt. or idiJm$ 3dequate for our aijdil have not been received frorn branches noi visited by us, or the parent tharilab eornpany finanoal slaiemen15 are not In agreement wrth Ihe attounling records and tUrn5'. er certain disdosure5 of Irusiee5' rernuneratn specifwi by law are not made. or we have not r?ived all the Informairt)n and eXp¥t10n$ we iequire for our audit The Irusiees were not enlilleil lo prepa the fjnanciai 51alements In aLr0rdan wrth the small companie5 regime and lake ad¥aniaoe of the small companies, exemption5 in pr¢panng the trustees. report and from the requirement lo prepa a 51raleglC report Responslbilitios of trustoes and directors As explained mole fulFy In Ihe 5talemeni of diredor$' and IfU$tee$' re5ponbiKlies. Ihe tW5tees whts are also the directors Of the company for the purpose of ¢ompany law. are responsib for the pieparalion ol the finanual slalemenis and for being 5alisfied lfvai they give a true antl fair view. and for $uch Internal control as the trustees and directors delemiine Is ne$$ary to enable the preparation of financial $t8lemenis that are from rnatenal misstaierronl wheiher due lo fraud or error In pwparing the financval slaiemenls, the Irustee3 ond directors •re responsib lor assessing the charity'5 abilty lo ntInUe 99 going uncern, disclosing. a$ applicab. matters ielaied lo going o)wn and usn9 Ihe going concern ba$1$ of accouniing unless the Iruslees and direthors either Intend lo INuti¥ate Ihe chariiab company or lo cease optrralions. w have no realistsc allernalive but lo do $0. Audllor's responsibllilies for th• audlt ol the linaThclal statements Our objectives are lo oblaln reasenabie assuian¢e aboul whether ihe slaterrenls as a whole are free from marial mis51alemeni. whether due lo fraud oi •rior and to Issue an au¢Jilors report Ihal Indvde5 our opinion Reasonab assurance Is 8 aigh level ol assurance, but Is nol a guaranlee thai an audrt eonducted In atrdance wrth ISAS IUKI will always detect a maieri•l misslalemertl when Il exists M15slalernenl$ ¢aTr arKse from fraud or erffjr and are considered mateiial Il, Individually or In the g91egaie. Ihèy couhl reasonabty be expected to Inlluen¢e lh• economc dOlOn$ of user$ tak•n on the bass of theso fin8ncial $131emenis. The extent 10 whKh our piocedums ale Capab of deteaing Irregurrthrys. IncAir4 frnud. s detaId below The extent to whlch the audlt was cornid•red cap•ble ol de¢¢¢tiThJ Irregul•ritie8 Including fraud Our approach lo Idenlrfying and assessing Ihe Trsk$ ol malerol misstaieftnl In resp¢¢t of Irregularilie5. Including fraud and non- compliance wilh18ws and iegulations, was a$ lolknws the engogerMnt partner en$d lThat the engagemeni team collettwety had the appropnaie coftyelence, capabilitie5 and ski115 10 Identify OF recognise nen-comp11an wrth apPIAb iiws and TeguiAtK¢ns. we Identified Ihe laws and regulations applicab 10 the group through d15CV5510ns with the dirnctors and other mana98meni. and from oui ujmmercial knowledge and expenen( of the se¢xor they operate in we fo¢used on specific laws and regulaiK)ns which conside may have a direcl matenal effed on the finanoal statements or the operations of the group. Including the Cempan5 Act 2rTh. Charrt$ Ad 2011. Charrties SORP, Charily Commission RegutIOns. Letting$ legi%181ion and safety regulabon. an11-briry. ernoYment and GDPR regulations." we assessed the extent of compliance wrth Ihe lawsand regulab"on$ Idontsfied above through mak¥ng enquiries of management and Inspeeling legal Corresponden, and Idenlrfied la¥vs and regulations were comrnuntcaled within Ihe aJrt team regularfy and the ien remained alert to Ill51ance5 of non-colnpliano Ihroughoul the audrt Page 9
OLD ALBANIAN SPORTS ASSOCIATION LIMITED INDEPENOENT AUDITORS. REPORT ICONTINUEDI TO THE MEM8ERS OF OLD ALBANIAN SPORTS ASSOCIA TION LIMITED We Èsse55ed the suscepiibilrty ol the group's finanoal SlalerrEnt5 to malwial misstaieftnl. induding obtaining an understanding of how fraud might occur by.. the engagement partner enrIng Ihat the eryagemeni team colecbvety had the appropriate cornpelence. Capabilities an skilL8 to Idenlrfy or recognise non4tynp11an with applicab and regUlatn5. conskleiin9 the Internal contrths tn Pla to mrtyate risks of fraud and fion<ornplIan with laws ano regulations. To address the ri8k of fraud through m8nagenrf bias and override of contro15. .. pertormed analyti¢al procedures lo eTrtrfY any unLsual or eXpected laanShIpS, tested journal 8nlr$ lo Idenlfy unu5U81 transa¢)n5". assessed wheihei judgements and assumptnS mad8 in det¢Mininy the accounting estimates sel out in note 2 were ndicalive of potential bia5. and investigated the raIrta behind s¥nrfKoni or unusual Iransathons. In response lo the risk of Ittegularilies and nofi<•mpllan wth laws arnl regUn$, we desune(I procdures which induded, bul were not limited lo.. agreBing fin8ncial 8t8temenl discPosures lo undertying supporting dotymefttsihJn.' reading the minutes ol rneelings of Ihose tharged th go¥ernan¢e". enquiring of rnanagemeni a$10 aLtual and poten81 1rtwjain and daims. and reviewing correspondence wilh FIMRC The Chaiily Commissp)n arKI the group's 81 and prol¥ssb)nal adwisors. There are inherent Iimiialb)ns in our audrt prooduros de5cnbed at)ve The Te removed that L4ws and regulation$ are from fln3ncial Iransaclion$. the sS Iikety rt 1$ that we wouhj become aware of non-complian Audrting standards also Iimrt the autlil procedures required 10 Kleniify non-compliance wrth laws and iegu¢al)n$ lo efiquiry of the trustees and other rn8nagernent and the inspection of regylalory and gal corre$pondence. If any Material mis$taiemEnls th81 aii$e 10 frOj can hafder to delect than Ihose th¥ ¥e from err as they may Involve deliber8t8 concealment or collusion. A furthor description ol our re$pOnsth'lrt lor Ihe audit of Ihe financial siatementS ts Wted on the Finantsal Reporting Ceunci1'$ web5iie ai.. http'lhvww Irc org.uklauditor&respon$ibilrt5 Thi5 de5CiIPlion lorm$ part of our audilo¢s rep¢rt Use of our report This report Is made 501ely 10 the charrty's trustees. as a body. In accordan£ th part 4 01 the CharitS IAceounls #nd Reports) Regulations 2008 Our audrt work has been undertaken so Ihai we mwjht slate to the charty's Ifu$iees Ih05e matters we are required to slate lo them In an auditors, report and for no olher puipose To the ful$1 exlent perrnitted by law. we do not accept or assume responsibilily 10 anyone olh8r than the ¢hanty and the chantys Irus¢ees as a byY. for our avdil work. foi this report. or for the opinion5 we have lorrned Lucy Kate Ghawss FCA Isenior Ststutory Audilorl for and on behall of Rayner E55ex LLP (0&12ciG Chartered Accountants Statutory Auditor Faulkner House Vidoria Street St Albans HertforLJshire AL1 3SE Rayner Essex LLP is Èligble for appointment as audrtor of the carty by rtue of rts eligibility for appointsr*ni ¥5 auditor of a o)mpany ntler of section 1212 of the Companies Ad 2CK Page 10
OLD ALBANIAN SPORTS ASSOCIATION LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES lincludlng con501idated Income and Expenditure acctsuntl FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Re5trfcted funds lunds 2025 Totsi funds 2025 Total funds 2024 Notes 2025 Income trom.. DonÈiion5 and legae5 27.030 348.511 745.137 335 13.899 40.92Y 348.511 745,137 335 53,678 307,056 666,245 230 1.304 Other trading activitse$ Inv8slmeni$ Other Incorne Total Income 1.121.013 13,899 1.134.912 1,028,513 Exp•ndlture on: 10 11 489.229 849.470 13.899 503.128 849.470 509,765 793.117 Other trading acti¥llS Totsl 8xpendllure 1.338.699 13.899 1.352,598 1,302,882 N8t ¢xp¢Ddltur8 belor• net g•lns on Inv8Strnents 1217,6e61 1217.6861 1274,3891 Nèt expenditure 1217.6861 1277.6861 1274,3691 Net expendllure and movement In Funds 217.6861 1217,6861 1274,3e91 Reconcllialion of funds.. Total lunds breughl forward N81 movemeni In funds 4 441.S72 1217.6861 4.441.572 1217.6861 4,715,941 1274,3691 Total fund8 C8rrl¢d forward 4.223.886 4.223.886 4.441,572 Contlnulng operatlons All incoTr and expenditure derwe frt Continuing aclNrti85. Totsl recognlsed gains and los889 The Collsolidaied Siaiemènt of Fingnu81 Actswrts ddeS ¥119ains and103ses recL¥Jnised in the year. The Slalemeni of Finanval ActNrtes atso c*mpl3 wlh Ihe wuwements for an incwe and expenditure acojunt under the Companies Act 20C£. The notes ort pages 15 to 27 form part of fv5e finanoal st8temeni$ P11
OLD ALBANIAN SPORTS ASSOCIATION LIMITED CONSOLIDATED BALANCE SHEET AS A T 31 MARCH 2025 2025 2024 Fixed a5sets'. Tangible assets 14 4.323.643 4.493.573 4.323,643 4.493,573 Current a$sets'. Stock Debtors Cash at bank and in hand 16 15.715 132.799 58.122 9.610 90.097 73,025 206.636 172,732 Creditors. Amoun falling (Jue wilhin one year 18 1306.3931 1224.7331 Not current Ilabillties 199.7571 152.0011 Toi•l zsset818s$ Current Ilabllitie5 4.223.886 4.441,572 Total Net A8sets 4.223.886 4,441.572 Tht funds ol th• qroup: Restricted funds Unre$iricted funds 19 19 4.223.886 4.441.572 Total group funds 4.223.888 4.441,572 The Charity was entitknd to exempts'on from audrt vnder #•Lon 477 of lh• Ccffjpan$ Act 2(#)6. The member5 have not required the eniity to obtain an audit foi the yeai In iuestth7 in •c¢4rdance with sec¢ion 476 of the Compan5 Act 2006 However. an 01¢ Is requi in accordanc wrth M¢Jion 151 01 the Charrts 2011.. The Trustees aekno%vledge their sponSibl1rt¥ for ¢omptyirvJ wrth the fequirements. olth¢ Act with respect lo •ccounling records •nd preparation olfinanoal StatenIS. The fin8n¢ial Slaternent$ have teen wepared 8ccord•nL Wrth the provk*K)ns apphcable to enlilies subjed 10 Ihtr imall companie$ The finandal Slalernents We approved by the Board of di($ and trustees on and on its behalf by Cree airtnanl Director and Trustee Oate.. Company Regystratlon Nts. 05322409 ThE notes on page$ 15 to 27 form part of these finanoal statements Page 12
OLD ALBANIAN SPORTS ASSOCIATION LIMITED CHARITY 8AL4NCÉ SHEET AS A T 31 MARCH 2025 2025 2024 Not88 Fixed assets.. Tangible assets Investments 14 15 4.323,643 4,493,573 4,323.645 4,493.575 Current assets.. Debtor5 Castt ai bank and in hand 17 103,737 30,453 66.440 53,612 134,190 120.052 Creditors Amounts falling due wllhin one year 18 1205,8341 176.6181 Net ¢urrent a888ts 171.6441 43.436 Total as88is les8 cufftnt Ilabllltl88 4.252,001 4.537,011 Total N•t As58ts 4,252,001 4,537,011 Th8 funds of the charlty.. Reslricled funds Unre51ricted funds 19 19 4.252,001 4,537.011 Total charity fund$ 4,252.001 4.537.011 The Charity w0$ eniilled to 8xgmptioN from audit under $ectlon 477 of the Companies Act 2006. The member5 hove not required the entity10 obtain an avdil for the ye8r in question in accordance svith Section 478 of the Compani•s A¢i 2006. However, an 8udil 15 required in accordan wllh se1¢n 151 of the Chafilie5 Acl 2011,. The Trustees acknowledge Ih?Ir r8spDnsibililies for complying with the requiremen15' 01 the Act with respect lo accounting records and preparation of fin8nc181 slalements. The financial slalemenl$ hgve been prepared in accordance with the provlsions applic8bl8 lo ent11$ Subject to the small companies regirne. The finan¢i8151atements were approved by the Board of directors and twslees on and $ioned on ils behalf by ARP ccree Dlrector and Trustee Date.. Company Reglstration No. 05322409 The notes on pages 15 10 27 form part of Ihese finanaal slaieTnefjls. Page13
OLD ALBANIAN SPORTS ASSOCIATION LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS AS A T 31 MARCH 202$ 2025 2024 Notss Cash flow8 from opernting a¢VIll¢s.. Net L*sh used In operating aclwrtl8S 21 19,9201 1101,8561 Cash frorn InstIng #Gtivltles.. Purchase of tangible fixed a$sel$ Inve51rnent ineome 15.3181 335 13,1541 230 Not ¢aih u80d In Inveitlng actlvltl 14,9831 12.9241 Chanq8 In ca8h and ¢a$h equlv81?nt• In th• year 114.9031 1104.7801 Ca8h and e18h 8qulval•nt• at the beglnnlng 01 tho year 73,025 177,805 ¢48h and cash oqulv•lent8 at th• of the year 58,122 73,025 The notes on p8g88 15 to 27 fom part of these InantAal statemgnls. Page 14
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCLAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1 Accountlng pollcles Chaty Information Old Abanian Sports AssoCiatn Lvn¢ed is a private c#ry8ny by guarafiiee inc3Jwted In ErvJLqnd and Wales The regi$tered offi and prinapal place ol blnesS i5 The Pawlbjn, Wooll•rn PLqying fls. Harpend8n Road. St Nbans, H8rtf0rd$hI ALB8. 1.1 Accountlng conventlon The financial slalemenis have been prepared in 8ccortt8n ¢he tharitys Mernorandum and Arbths of Associ8lion, the Companies Act 2LMJ6, FRS 102 The Finanraal ReportirvJ Stsndanl appliQ3b in the UK and Republi¢ ol Ireland. I'FRS 102.1 and the Charities SORP-Accounling aThd ReFQrting by Charities. Staieftnl of Rec0rnffnded practi appli&)ble tc charities pparIng their accounts In a(tordamc with the Financial Repoffjng Standard appl48 In the UK and Republk of Ireland IFRS 1021 leffeclive 1 January 20191. The cbziity is a Public Benefft Entty a5 defird by FRS 102. The finan¢l $tatemnls are prere0 in siwth'r4. Ihe fiJn¢thonal (re0¢Y of the charty and its $ubdiary Monetary 8mounts In the80 finanaal statements ar• Mjnded to Ihe Marest t. The financial $laterrtts ha¥0 been prepared under the hL51orical cost convention unlfrss other%V8 Stated In the Vant accountyng policry The pmapal acc4unbng pol¢s 8dcyted are sol out bek)w Thtr charity has taken edvantaye of the 8xeryb)n in FRS 102 from preparing 4 stateNnt of ¢85h flows, on the basls that tt 1$ a qualifying enlily and the n$0113t•d slalernenl of cash Ikm induded in Ihe8e financA•I SleftnIS indudes the cash flow$ ol Ihe ¢harity. 1.2 Golng ¢on¢ern The finanoal slat•rnents hB¥O prepamd on a gory ¢Y)nc•m buls. tring th year, tho Group In>Jrred • fi01 1058 of £217.686 12024." £274.36918Tr, 99 at 31 March 2025. the Group'$ ¢urTgnt liabili$ exr)Jod8d it8 cunenl a$t$ by £99.757 12024 £52.0011. In as8¢sglng the appropiialentts of th¢ go9 c•nc•rn basB. thè •nd dir•dor5 have Cons0r8d the Group's fin¥ncial POSitKn. the effea on tho value of ts assets and IrabilrtS Sin the b8Lgn¢w eel date. together wrth actual and expected future in¢?me and •xpenditure and cash requiremeThts. The Iru$tees' 85se55ment has taken into attount the actrons bethg Implemented followng the year end, as describod In th8 Financial Revw 5edion of the Tru$tee$' Rtr. These indude Inrtk8lNe$ 10 $ecure fiJnding from wrthin Ihe $port5 clubs, support base. which ¢omm&nced after the •nd r•rnain owoing, log¢ther wrth Iha 8ueu8sfiJl Prrnt8On of the other adions described In thai reporL The trustees r•ecgni8e Ihat Cholity thntinues lo fa (•lrys kn retsthin to goirvJ c4n¢em. However. hAing Conserj the acb¢n$ being taken and the fumding inrtiiles Unde9Y. they ha ¥ reasonab expeL#atn Ihol the Ch8rty and it8 subswJiary have adeouale resour8 lo conts"n in oper8lwal existence for Ihe foresee8bkn future. Acc£srdlngly. the tw$iee$ and dire¢torn continue to adoptthe gtyryd ¢4)ficm basi& o18ccn.Thj In preparw these finanaal stateftnts. 1.3 Ba818 of consolidation The group financial siaiements ts)nsofidat• the aoxjunls ol Abani#n SpNt8 AssorAatK)n Limrted and its wholly owned $ub$idiary Old Albanian Sport$ Glvb Limited on a line by line bays. A Separate Ststement of Finaniial Activit$ for the charity has not been presented because the company has laken advantage of the exerytKin afforded by sethon 408 of the Companies Ad 2006 The subsidiary has been accounted for as an in¥esThent m the chznty'5 ballqnce sheet and 1$ held under fvxed assets. 1.4 Incom¢ and revenve rncognltlon All income Is fecogni5ed On the Group ha$ entknnI to income. rt 1$ pffjbabkn thal Ihe 0)me will b8 ed 4nd the amount of in¢oFrE receivab can be measured reliabty. All income gr0$5 wthout deduction for lated expenditure. T following SpeCffj police5 are applied lo parti¢uLgr calegor of irKc¢ne.' Voluntary ino)me is red by way of donabon$ and gffts aTrJ N indthaed in ftrll in the Statement of Finanoal activrts whèn rtL¥wabl8. Investment infX)me k% incJded when re¥ble. Incoming resources from ithalltab tradirwJ acts[es a accounted for *then earned. Restricted ¢ recorded in Ihe SOFA when PèJe15
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL sfATEMENTS ICONTINUEDI FOR THE YEAR ENDEO 31 AiARCH 2025 1 Ac£ount¢ng policies Iconbnuedl 1.5 Governrnent grants GoverfiTnent grants relating lo tsnglb fixed assets are treaied as deferred in<ThE and leaSed to the cons0181e Slalemenl of Financ1 Adivits upon the completion of the relevant perfOrman-related condilion5 Other grants that Ère not subject 10 perfoTmance-related condttn$ are credited to the Consolidated Staternent of Finanoal Athvits as the grant proceeds are reived. Grants rece prN)r to the wenue re(x)gnilion cnteria being sat15fied are recognised as 3 lièbility. 1.6 Expènditure Expenditure is rec(gni8ed On there i% a gaI or constrvrtivt OblatIon to transfer economL benefrt to a third paty, It Is probable that a transfer of Èconomic benefits will be required in SÈttlerTEnt and the ainovnt of the obligation be ffEasured reliably Expendrtvre Is dassffied by actNty The cost5 of each actsvty are made up of the total of diied StS and shared osls. Including support costs involved in undertaking each adNity Dired costs attnbUtab to a single activity are alloted directiy lo that activrty Shared costs whrh conlribute to tran one actwty and support ts)s15 which are not attributable lo 8inglÈ activity are apportioned between those acttyits On 3 basis consieni wrth the use of resourS Central staff mst5 are alloealed on the bass of time Spent, and dÈpreoation charges #lloced on tr portion ofthe assÈl's use Expendilure on raising tund5 indudes all expenlfilure incurred by the Group to raise funds for its Charitab purposes and includes Costs of all fundraising ad1¥rt$ events and non<hatitabk trading Expendituie Is recognised on an acuuaL% basis as liabilities are Inojrred. All eXnditure 15 net of VAT. Chafilable expenditure comprised those eosts incurred by the charity in the delNery gf its activits and servi$ for rts beneficiaiie5 It includes boih cosls that can be allocated dire(xty to such atti¥ll$ and those costs of 3fi indirect n81ure e$Sary to support them Governance costs Indude those costs ass00a rneebryJ the (xJn5trtutional and stÈlutory requirements of the charity and include the audit fees and costs linked to the strategic mana9emenl ofthe tharity All rosls are allocaied belween the expÈndrture cate9ones of the Slatement of Finanual Adv on a bass desgned to refeci the use of the resour. 1.7 Tangible fixed assets and depreciation All expendilure on tsngible fLKed assets 15 C3Prtalised. Tangib hxeLI assets oifv than freehold Lqnd are st31ed al cost less depreciation Depreciation Is provided al rates tskulated to wrrte off the co or ValUatn $$ estimated restt1ual value of eath a55et over rts expected uful lrfe. as follows.. Long-temi leasehold property Plant and machinery Fixtures and fittings OthÈr fixed assets 50 yeats 5-20 years 21Yh reduorrtj bakn 21VA reduuffj balan The gain or loss arising on the disposal trf an asset Is detemined as the ditterence tWeen the Sale proceeds and IhÈ carrying value oflhe a55el. and Is credrted or charged 10 the StslerTEnt of Finanoal AttiintEs In the period of Ihe disposal. 1.8 Investments FixÈd asset Investments ate a forn of financwl instrurr£nt and are inrtBIty recognised al their transaction ust and subsequentty rÉasured al fair value at the Balan Sheet date. Change5 in fair value are recognwd In th? Statement of Finanoal AL1ivities Transathon cost5 are expensed as InCUrd. Investments in subsk1i815 are valued at eA)st k55 pro¥i5hin for inpairrrwt. 1.9 Stock Stocks are stated at the lower of c05t 3nd seming pri(* s5 costs lo 0)rrYle arKJ Sell. Cost ts based on the cost of purchase on a first In, first out baw5. Page 16
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policie5 Icontinuedl 1.10 Debtors Short lemi dÈbtors are measured at Iran5action prKe. less any vnpairrnent losses. 1.11 Cash at bank and in hand CÈsh and sh equivalents c(Jfflprise cash at bank and in hand and demand deposits with banks. 1.12 Liabilities Short term ueditors are rrEasured at the trdn5actxJn pTh. 1.13 Financial inslnjmonts The group has elected to apply thè prowisions ef Sedion 11 'BaS Financial Instwments. aTh1 Sedion 12 '0ther Finantsal Instruments Issues. of FRS 102 le all of its finanoal Instruments. Financial instruments are rec¢gnised in the grovps tsalan sheetwhen the group beMe$ party to contiactual provisions of Ihe Inslrurnenl Finanoal assets arxl Iiabiltw are ollsÈt . wilh Ihe net amounts presente(I In the frnanoal staternents when there is a legally enfoable rvjhl to sel off Ihe recogntsed arnounls and there Is an intentyon lo settk on a nel basis or lo realise the asset and settle the liability sirrmjttaneousty. Basic financialassets Basic finanual assets. which indudE debtors and rsh and bank balan$. are inthalty rreasured at transadion price including transaction costs and are subsequentty Carr ai amortiseil wst using the effÈ(Xive Interest ffÉlhod unless the arrangement conslrtutes a finanong transattion. where the Iransathon is ftasured al the present value of the future rePtS di%munled at 8 market rale of interest. FinarTrryal assets ClasSrfd as recewable within ont year are not amortsed. Classiffcètion of financi31 Ilabilities FiTrancial liabilities and equity In5trurrenls are dassrfEd 3ccording to the Substan of the contradual arrangements entered into. An equity Inslrurnent is any uJnira(I thal eVhYen a resmlual Interest &n the asse15 Qf the group after deduding all of its Basfc finèncialliabilsties Basic finanoal liabilili&s. including credrtors. bank k)ans. 5 from fellow group (x)mpanie5 and preferents shHres that are cLqssified a5 debt, are initialty recogn al trans8d)n pri unsS the arrangernent con51ilutes a financing transaction. where Ihe debt instrurrEnl is measured ai the present value of the fulure paynEnls discounted al a rnarket rate of Interest Finanaal Ik4ts'lrtEs CJaSsd a5 payatAe wilhin one year are not arT0se. Debt instruments are subsequendy caffled at amortised u)5t, Using the effeaive interest rate rrethod. Tr8de creditors are oblLqatron$ to pay for goods or Ser¥ thal have been acquiral in the ordinary o)urse of businÈs5 from suppliers. Amounts payable are cL3ssified as current Iiabililies if payment due within one yeai or less If not, they are presented 8s nOn-CuenI IiabilitEs Trade ereditor5 are recc9nsed inllY al tran5actwJn pl1 and subsequently ryaSUred at atnorti5ed cost using the effedive interest th1X. Derecognition of financial liabilitses Finanoal Iiabilrties are derecognksed when Ihe groups a)ntractual oblwJation$ expire orzre discharged or ¢xncelled. 1.14 Pensions Defined contribution pension plan The Group'5 subsidiary undertaking operates a defined conlributpJn pensi plan for its empknyees. UndÈr a defined contnbulion plan. the Group's subsKliary undertaking pays fixed contributn$ inio a separate entsty on the cwlributions have be&n paid. the Groups subsidiary undertaking has rTro fvrther paynEnl obligatK)ns Contributions are recojnised as an exper6e m the StatetrEnt of Financ4al Activil5 then they fall ue Any atnounls unpaid at the reporting dale are Induded within accrua& as a liability In the Balan Sheet. The assets of the plan are held 5epar3tely from those of the Group In iNJependenlly adnstered fund5. Page 17
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting polic688 Ictsntinuedl 1.15 Taxation The tax expense preSentS the Sum of the lax 0jrn1ty payab and deferred lax Current lax The lax currentty payable is based on tsxable piofit for the year Taxable profil drffers frorn nel profil as ieported In the Siatemenl of Finan¢val Actiwrties betause rt exdudes rt5 of Incon oi expense that a taxable or deduclible In other ye8rs and Il further eydudes rtems Ihal are never taxab or Jedudible The group's liability for curreni lax Is calcul8ted using tax rates that have been enathd or subsiantsvelv enacied bv the iewrbryj end da Deferred tax Deferied lax Iiabililies are generalty r8cogn¢e(J for all timing drfferences and deÈwed ta¥ assets aTe reco9nised to the extefjl Ihal 11 Is probable that they will be recowered againsl the reversal ol delerred lax IiaOIlrtEs or other future laxable profrts Such a55et5 and Iiabililies are nol fe¢ognLSed rf the timing ¢jrfrer?n arises from gool%vill or frern the inrtial recegnilion of otheT assets antt Iabilits in a transaction that affeds nerther th• tax profil nor the &roJunting profft The carrying amount of delerfed lax a55ets 15 revied ai each reporting end dale and urEd lo the exieni that it 15 no longer probable that suffioeni taxable profrts will be availabk allow all or part of the assei io be recovered Deferred lax is calculated al the lax fates that are expetted lo apply In perio¢ when Ihe Irdbilty Is settled or the as5el Is iealised Oeferred lax is charged or credited in the Slalemenl ol Finantsal Adivrts. except when rt felas lo Items charged or credrted direciiy to equity, In ¥vhich case the deferred lax L4 also deatt with In equrty Deferred tsx asset$ and Iiabilrties are oftsel when the group has a legally enforceable rwjhl to offsel current lax a$sets and Iiabilrts and the defeed tax asaels and Iiabilrties relate to laxe$ levied bv Ihe some ta¥ aulhofrtv 1.16 Employee benefits The costs of short-terrn employee benefits are recognised as a Ikgbility and an 8Mpen. un55 those cost$ are required lo be recognised as part of the c051 of slo¢k or fixed assels The ¢osi of any unused holKJay enlillemeni 1$ rtscognised in Ihe pen'od in which Ihe eryloy8e'$ service$ are received. Termination benefits are recognise¢J irnmedkqlety a$ 3n expense when Ihe group B demonstrably committed lo lerminale the employrnenl ol an empbyee or lo provide lerminabon benefrts 1.17 Fund accountlng General funds are unreslrKied lund$ whKh are availab for use at the disuetion of the Truste•5 in furtherance of the general obiethives oflhe ¢hofty 8nd which have noi been designated lor other purwses. Reslricied fund5 fund$ whith are to be used In acCOan th 5Fe¢ re$triLlions imposed by donor5 01 which have been raised for particular purpo$es The aim and use of eac restre fund rs sei oul In the netes to the financial slalemeni$ 2 Judgernents and key sour¢es ol •stlmatlon uncertainty In the application of the group s a¢¢ounliThJ polKs. the truslaes s wuired to rnake iud4wnent5. estsmBtes and 8$sumptions 8boul the caryying amount of assets arKI liab$ thai are not readily appaienl from Other sources The esiimaie$ 8nd associated è55urnpliens are based on htstoiical expenence and other factois Ihal are considered 10 be relevant Actual re$ulls mav differ from these e51imales. The esiimales and undertying assumptions are revwed on an ongoing ba51s. Revsions 10 accounting estimate5 are recognrsed in the [lod In which the eslimaie L% revised where the revisvJn aftects onty that penod. or in the period of the revision and lutvre rS where the revision affeL15 both current 3nd future perKAIs There are not considered lo be any e51imates or assumpbt)ns which have a $9#ifK4nt risk of ¢au5ing a material aojvsimenl to the Garrying arnounl ofa5xts and l*bilrtES ol the group. Page 18
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 WRCH 2025 3 IncomSng resources from activities for genErating funds The ¥vholly owned tiading subsQiary Okl Abanian Sports Club Irted IOASCI. whith is incorporated in the Unrted Kingdom, donate5 all of ils taxab profits to the charity OASC eperates the bar znd restauiant and all ccrnwual trading er¥tn5 cArrd on at the premL8es. The th8rily owns the eniire issued Sha Capital ef 2 einary shares of £1 eath A stsmmary ofthe Iradiro resvlls is shown below Unrestrictsd funds 2025 Toial funds 202S Unwtricted fund5 2024 Total funds 2024 Turnover Cost o15ak5 Adminislralion costs Other operating In(t)me 745.137 1441.9991 1407.4691 745.137 1441,9991 1407.4691 666.245 1357,2451 1435,8721 1.304 666,245 1357.2451 1435,8721 1,304 Operating bs$ 1104.3311 1104.3311 1125,5681 1125,5681 The ossets 8nd Iiabililies of the subsJiary were.. Unrv¥tricted fund8 2025 Total fvnds 2025 Unre$tric¢ed lund5 2024 Total funds 2024 Current 888ets 72.446 72.446 11,038.3571 11.038.357} 52.679 1914 2591 52,679 1914.2591 Operaiing1055 1861,5801 1861.5801 4 Parent ¢h•rlty results Th¢ charitable company has laken advantage of the exemption prov•Jed by 5eLion 408 of th Companles Aci 2006 and hBS not presented a sepaiate Statement of Fin¥ncJal AclNt¢s lor the chanL9bkn coryyany alone The net movernenl in funds ol the parnni chaniabkn cL4np8ny lor Ihe year eTrJ¢d 31 March 2025 was £285.010 defiot 12024. £914.943 deficill- S Incomè Iroffl donatlons and l•gacles UnrestriGted funds 2025 R¢$iricted fund$ 2025 Total funds 2025 Denaiion5 8nd grfts 27,030 13.899 40.929 Un$ttted fund5 2024 Restricted lufids 2024 Total lunds 2024 Don8lions and grf15 43.613 10.065 53.678 Included in donatn$ a amounts for ostrided purposes lotslliThJ É13.89912024.. £9.9401 for rugby and £nil12024" £1251 for cricket. Page 19
OLD ALBANIAN SPORTS ASSOCIATION LIMITEO NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 6 Int(e from charitsble activities UniEsthct8d funds 2025 Restricted funds 2025 Total funds 2025 Facilty charge5 and rent 348.511 348.511 UnTEStricted funds 2024 Restricted funds 2024 Totsl funds 2024 Facilty charge5 and rent 307,056 307,056 7 Income from other trading activities Income frotn non charitsblè trading activities Unre5trictsd funds 2025 Restricted ftJnd5 2025 Total funds 2025 Carnrnercial trading 745.137 745.137 Unrpstricted funds 2024 Resiricted fund5 2024 Total funds 2024 Cotnrnercial trading 866.245 666,245 8 Other Éncorning resources Unrestricted funds 2025 Restricted fiJnd5 2025 Total funds 2025 Other operating Inco Unfestricted funds 2024 Restricted lunds 2024 Totsl funds 2024 Other operating Inrx)me 1,304 1,304 Page 20
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 WIRCH 202S 9 Support costs The activities of the charilablÈ group are otgani5ed suth Ihal rts subsKliary. OASC. un¢ertakes all Ihe commer¢ial trading operations The support Costs of OASC a heft all directty allocated tc Comtn2roal trading St5 The support costs of the chanty are directly alk>Trled prTrnanly to Charitab expendrture Advertisin9 and promolion ts)St5 have been allocated lo FuraIsIng costs and Gowemance costs has bn alh)caied tthieen expenditure on a pr(Frats basis The charity undertake5 direct tharitable athvitiÈs only and doE5 not make grant paymenL8 10 Analysis of expenditure ¢)n charitable activities Summary by fund typE Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 General charity funds Rugby fund Cricket fund 489,229 489.229 13.899 13,899 489 229 13.899 503.128 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 General chanty fun¢Js Ru9by fund Cricket fund 499.700 499,700 9,940 125 9.940 125 499,7LK> 10,065 509.765 Summary by expenditure type stsft cosis Depreciation 2025 2025 Other costs 2025 Total 2025 General charity funds Rugby fund Cricket fu 175.248 313,981 13.899 489.229 13,899 175,248 327.880 503.128 Staff Costs Deprpciation 2024 2024 Other costs Total 2024 2024 General eharty funds Rugby fund Cricket fund 18.695 179.553 301.452 9.940 125 499.700 9,940 125 18.695 179.553 311.517 509,765 Page21
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 11 Total resourGe5 exp8nded UnrestrlctÈ ftsnds 2025 Restrlcted funds 2025 Total funds 2025 Wage5 and salar Building expenses Depreciaiion Pitch preparation and m¥inlenanc¢ Building rnainlenance and repairs Legal and profession•1 General rnana9emeTrt 90.713 175.248 93.228 33,349 117.8021 115.095 90,113 175.248 107,125 33,349 117.8021 715.095 13,899 489,229 13.899 503,128 Unrvstrfcted funds 2024 Rostricted funds 2024 Total fund$ 2024 Wages and 5alarie$ Buibjing expense5 Oepr8¢iaiien Pitch preparatbn moinnan Suikllng maintenance and rep•1 Legal and professional General managern¢ni 18,695 68.567 179.553 103,341 48.350 18.403 64.791 18.695 68.567 179.553 113,4Q6 48.350 16.403 64,791 10,Ce5 499,7CO 10.065 509.765 Induded in prtch preparaiion and maini6nanc• •mounls for $trted puws totall9 £13.899 12024." £9.9401 for rugby and £nil12024 £1251 for cricket Unr•strfcted lund8 2025 R•strlcted funds 2025 T•t•l funds 2025 Other tsad*n9 costs.. Cost of sales Staff cesls Building expen5e5 Administration C0S15 441.999 333,595 7.023 fj6.853 441,999 333.595 7.023 66,853 849,470 849,470 Unresiricted funds 2024 Restricted fund5 2024 Total fuThd$ 2024 Other tradlng cosl5'. Cost of saS Stsff costs Bu11ding expenses Adminislraiion costs 357.245 338.538 42.118 55.216 357.245 338.538 42,118 55,216 793.117 793.117 Page 22
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 11 Total resources expended Icontinuedl Unrestrtcted funds 2025 Restricted fund5 2025 Totsl fund5 2025 Governance costs Audii lees Actounlancy fee5 13.OLKI 3.50) 13,000 3,500 16.500 16.500 Llnrestri¢ted lunds 2024 Restrictod funds 2024 Total funds 2024 Govornance to$ Audit fees AcntancY fee$ 26,8C#) 8.525 26.800 8,525 35.325 35,325 Governance eosls ale absorbed mlo chailiab expeThllure under yneral man4emenl and vading costs undef adrninislration costs. 12 Staff ¢o$ts Group 2025 Group 2024 Cornpany 2026 Company 2024 Wage$ and salaries Social security 51S Contribution to defined contrknulK)n p•5 s¢hern•J 3C6.603 16.695 JO.297 326,580 19.662 10.991 19.695 333.595 357,233 18.695 In¢luded within wages and $alar5 are (janCY and leia0n ¢osts of £nil 12024 £10.0001 ift¢urred by the group's trading subsidiary undertaking Okl Albank8n Sports Club Lmrted The 3vefage nurnber ol persons employed by Ihe Charty sjumg the year was as folfv$.' Group Group 2024 2025 Number of employees IGroupl Sales 5eFvices Management and administration 26 27 33 No ernployee reiVed rernuneotion armunling lo rn0 than £60.OC#) in either ar. All employees We ernployed by the Old Albanran spo Club Lmited during the year Recharges of staff costs We made lo the charty in the prior year as deiaikd In the note5. Sales and serViS staff are all employed on a part-lirne basts. The nuftknets above refie the actual nurnber of employees rather than being prepared on a full-tThe equ{vat basis. The Trustees and 0rab"On$ Board are a)n5Klered to tompri5e Ihe key rrTranageft*nl personnel ef the charty No trustee or board member ed reMUratIOn during the year. Page 23
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FIIIANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 13 Trustees, remuntration and expertses Trustees, remun8ration During the yeaf. no Trustees re1¥ any remunerabon or othe¢ bEnefits12024 £nill Trustees. expenses During the year, no Iru5tee5' expenses have been incurred 12024 £nll. 14 Tanglbltr fixed assets Group and Company L¢ng4erm 18asehold Plant and prop8rty machlnary Fixture5 and fittin98 Other Flxed Assets Total Cost or valuation.. Al l April 2024 Additions DI$p05a15 7.878.266 106.489 594.892 5,318 14.fj06 8.594,253 5,318 At 31 March 2025 7.878.288 1C6.489 800.210 14.806 8 599,571 Depreclallon and lffjpalmnt'. Al l April 2024 Charge for the year On disposals 3,5C4).800 157.565 50.248 4.372 542,480 11.820 7.152 1.491 4.100,680 175.248 Al 31 March 2025 3.698.365 54.620 554.3rKI 8,643 4.275.928 Carrylng amount.. Al 31 March 2025 4.219.901 51.869 45.910 5.963 4,323.643 Al 31 Mar¢h 2024 4.377.4fj6 56.241 52.412 7,451 4.493.573 15 Fixed 45¥et investrnents Charity Investments In subsidiary ¢ompafly Shares in subsldiarie Cost a$ at 31 March 2024 and at 31 Ma¢h 2025 The 5ub5hYiary undertaking. whith is wholly trwned ar¥J reg151erJ in Ewknd. i% as folkl. Corn an Prfnci l acti¥ii Class ol shares Holdin Old Albanian Sports Club Lmrted Bai and restsuranl trading a(#rvifves olthe Okl Abanian Sports Assooalion Lrnrted 1000/ The results and finanual p051tn of the subsK1ry ¢ompaTry is shrywn in note 3 page 19. Page 24
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 16 Stock Group 2025 Group 2024 Company 2025 Company 2024 Finished good$ and goc#Js for fesalE 15.715 9,610 17 Oebtors Group 2025 Group 2024 Cornpany 2025 ompany 2024 Oue wlthln on• year Trade debtors Amounts owed by group undertakin Other debtors Prepaynwnts and Bwued Incom• 99.145 59,Y6 98.047 35,890 33.654 19.581 10,970 5,690 19.581 10,969 132.799 9).097 103.737 66,440 Amounts ewed by group undertakings have no Ilxed repayment terms A proviS)n of £937.798 12024 £766.1411 ha$ been ma(Je by Ihe chanty ¢¢Thpany agaith* the fvll Inlerts)mpany lean balan due from rts substiliary undertaking Old Albanian Spgrt$ Club Lirniled. 18 Credltots.. Amounts falllng du• wlthln ong y¢•r Group 2025 Group 2024 CornpaThy 2025 ornpany 2024 Ttade creditor$ Other taxation and se¢wl serItY Other creditors Accruals and deferred Incow 2,918 49.880 159.931 12.572 41.441 93,007 77.713 185 46.218 92.385 87.048 15,8931 4,796 77,713 306.393 224.733 205,834 76.61S 19 Movement in fund8 Statement of fund8 . current year Balance at l April 202S Balance at 31 March 2025 Incom¢ Expenditvre 2025 2025 Unrestricted fund5 General Fund$- all lunds 4.441.572 1.121.013 11.338,6991 4.223,886 Restricted funds Rugby fund Crickel fund 13.899 If3.8991 13.899 113.8991 Total funds 4.441.572 1,134.912 11,352.5981 4,223,886 Page 25
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 WIRCH 2025 19 Movement in funds Icontonutdl Statement of fund5- prior year Balance at 1 April 2024 Balanco at 31 March 2024 Income 2024 Exp?ndlture 2024 Unrestricted funds General Fund5- all funds 4.715.941 1.018,448 11,292.8171 4,441,572 Re5trict8d funds Rugby lund Crrktt lund 9.940 125 19,9401 11251 10,Cfj5 110.0651 Total funds 4.715,941 1.028.513 11.302,8821 4.441.572 20 Analysls ol n•t •55ets bets¥een funds Analy515 ol net a$sets b¢iw•on lunth- current year Unrestrlcted funds 2025 Restrlct•d funds 2026 Total fund$ 2025 Tangible fixed as19 Current assets Credrtors due within one yeai 4,323.643 206.636 I3(.393) 4,323,643 206,636 130S,3931 4,223.886 4.223,886 Analyèi5 01 net assets betw*¢n fvndB- pwlor year Unr•stri¢t•d funds 2024 flestrlctod hjnd 2024 Total funds 2024 T8ngible fixed assels Current assets Credrtows due wthin year 4.493.573 172732 1224.7331 4.493.573 172.732 1224.7331 4.441.572 4.441,572 Page 26
OLD ALBANIAN SPORTS ASSOCIATION LIMITED NOTES TO THE F114ANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 21 Reconclllation of net movernent in funds io net Cash Ilow Irom operating activitles Group 2025 2025 Nel expendrture for the perth135 per C¢)nsolKlate¢J Statennt ol Finanoal AraiintEsl Adjtsstments for.. Depreciation Investrnent Income Ilncreaseiidecrease In siock In¢rease In debtor5 In¢rea5e in credito 1217.6861 1274.3691 175.248 13351 16.1051 142.7021 81.660 179.553 12301 6.340 122,3481 9.198 Nel cash used in 0rIn9 •clivrtie5 19,9201 1101,8581 22 Analys15 of cash and cash equlv•lents Group 2025 2024 C85h In hand Overdraft faolily repayab M tsmand 58.122 73.025 Total $h and cash equivants 58.122 73,025 23 Anèly5i8 ol chang•s in net Idoblllfunds Group At At 31 MarGh 2025 Cash flows 2024 Cash at bank and in hand Bank over(Jrafts repayable on demand 73.025 114,9)31 58,122 73.025 114.9031 58.122 24 R8lated paty tr•nsactio Old AlbankHn Sports Associaln Limiie¢ I"OAS4"1 own$ 100% of Ibe issued $h8r8 capiial ol Old Alban18n Spgrts Club Limrted I OASC"). making il a related party During the year OASA charged expenses of £10.549 12024" £40.3761 lo OASC OASC recharged expenses of £nil 12024 £18,695) Lln9 to slaff wages dunng the year Al the year-end OASC owed OASA £937,73812024.' £766.1411. A pThiwn has been clUded in OASA for the b•larKe of £937.79812024.. £766.1411. The Old Albanian Cre1 Club has exeruseo the nghl 10 appoint one of the OASA Board of Ttvslee5 and So Is a related party of OASA During the year OASA made facilty tharges of E9.662 12024.. £22.5181 lo the (Jd Albanian Cricket Club Al the year end the Old Alb2nian Cricket C14Jb owed OASA £nil 12024. £nill In addrtn. OASC made saS lo tsTre Old Albanian Cricket The Old Albanian Rugby Football Club has exercised Ihe r¥ht 10 appoint Mfo of the OASA Board of Tru51ees and so Is a rel8ted party cf OASA Dvring the year OASA made facility charges and $8le5 of £56.75012024. £31.1691 to the Ohy Albanian Rugby Fooiball Club. At the year eTrJ the Old Albank8n Rugby Football Club OASA £6.54612024.. £2.6371 The Old Albanian Club ha5 exerosed Ihe nghl lo appoint merrthrs 10 Ihe OASA Board of Trustees and so is a related party of OASA The president of the Albanian Club hok1s an ex offioo appoinlnEnl lo the Sl Albans School Board. which ttas a conlrolling infiuenc over the Sl Albans &hool Woollam Playing Fld Trust Ilhe Trusl"l. making th a relate(J paty rhe Trust undertook ground maintenance for OASA at a cost of £70.265 12024" £86.7901 during Ihe year. At the yèarend OASA 04ed the Trust £nil 12024. £nill. Th& trustees pro¥KJed seice$ 10 OASA of £nil12024." £3 4481 Tn the year. Al the year end there was no oulstandiNJ balan. All Iran5aCtKns wrth related parts re conduded ai arrn's n91h arwj on rK•ml (*rrxnerual tem Page 27
OLD AL8ANIAN SPORTS ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES lincluding Income and Expenditure at¢ounll FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted fun(15 2025 Restricted funds 2025 Total fund5 2025 Totsi funds 2024 Income Iforn.. Donations and legacies Chanlable activities Investmen15 27.030 348.511 335 13.899 40.929 348,511 335 53.678 307.056 230 Totsl Income 375.876 13.899 389.775 360,964 Expenditurg on: Trading subsidiary Impaimienl 171.657 489.229 171,657 503.128 13.899 1.275,907 Total expendlture 13.809 674 785 1,275,907 Not &xp•nditur8 before net gain5 on Inv•5tmenls 1285.0101 1285.0101 1914.9431 Net exp•nditure 128S.0101 1285.0101 1914.9431 Nel expendltur? and movernent In Funds 1285.0101 1285.0101 1914,9431 Reconclllatlon ol lund5'. T¢ial fund5 broughl lOard Nel movernent in funds 4.537.011 1285.0101 4.537.011 1285,0101 5,451.954 1914.9431 Total fvnds carrled tornyard 4.252.C¥)1 4.252,001 4.537.011 Contlnuing OFeratlons JI income and expenditure derNe Irorn conlinuing adi*txg. Total recognlsed gain5 and 1088es The slalement of finaneval acli¥Ats$ Incl$ all 98iTr5 8TrJ Wes recognwd in the year. Thi5 p4e d$ notforrn part of the statutory [3nLy& statements