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 lnfoffi￿t Direcaors, and Trustees. RepK¥t Independent Aurfrtorfs Report 8-10 Consdidated Statement of Finanual A¢*Nrbes 11 Consolidated Balan￿ Sh*t 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 PhI￿ll. Trustee DCH Hughes. Trustee DR Good*r. Trustee PM RKhardson. Tw51ee SE Bachmann. TnJst8e MP N￿by. Trnstee PA Quinn. Trv*ee Cornpany reglstr•tlon numb•r 05322409 Charity r•glstsatlon numb•r 1107740 Prlnclpal and r•glst•rnd offi¢• The Pavillion Woollam pla￿n9 F Ha￿eTh￿•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? C￿Quer 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 $417 of the Cornpanies Act 2006. The lin8ntJal slatemenls have been prepaied In a¢mIdan￿ wrth the at*ounkng polic4es sei oul in note 1 to the financial staterr￿n1$ and comply with the Memorandum aThJ Artic￿$ of A$5walh)n, the Compant5 Act 2006 and-Awounling and Reporting by Charities Stalernenl ol Recommende(* Practi￿ applicable to tharrt*s prepanng their 8ttoun15 in accordance with the Financial Reporting Standard appl¢able in the UK and Repvblicef Ireland IFRS 1021" leffec￿e 1 January 20191 OBJECTIVES AND ACTIVITIES ObjeG¢lves of tho charlty and actlvities lor the pU￿1C benefit The charity 1$ a company limited by guarantee The charty's obiecti¥es a The prornolion of r￿mr￿UnIty partic1pai￿J￿ in heahhy recfeatK)n In particular by the provi5Kin of fa￿Irt￿S for mombers of the public lo engage In team sports, alh*lics. fitne55 training and other forms of physical recoalion To advance Ihe educa1￿n of young person's atttnding x*oob. col*9es 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 $oual weware lo orgafioe or prov*Je fae41it*$ 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 t*nefil 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 obJeL*i¥es wa$ to provide hvah stsndard l•cililie5 foi the lo￿1 ¢ommunily lo part¢ipate in Sporting By the piowsDn of these hioh Standard fa¢drt*s. 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￿$. pavilion thanging rooms. bar, catering and sotsal areas for members and guests of the folty*ing dubs Old Albanian Cricael Club Old Albanian Tennis Club Albanian Club Albanian Rugby Football c￿b, Iwhk* irrfthJde5 th• Albani•n Mini Junior RFC and (Id Albanian Saints. lad￿$ njgbyl Local Adult Groups Woollams 15 a15e the training base for Saracens RFC. The Truslees are p*a$ed to announ￿ that this arrangement 15 in the proce$$ of being extended through to March 2028. Fac4rt￿s are also provhyed to othei sports dub5 3nd for represeniotiwe fLxlure5. During the peiiod, th• Ch8rrty began to provNle its I8￿1rt*S to Wi(aor* P8rf< F￿lts811 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 gI￿n lo the ongoing maintenance and refurbi$hrnenl During the year the charty not undertake arry external fvnd*ai$ing aLINSt*swth donaDons bèing re￿Ned 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 spe￿11￿ 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 b0Okkee￿r 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 donal￿n$ 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 part￿S for a range of business and sor3al fvnc*ions. 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 redutt￿n 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 finan￿al adiwties She￿ that resour￿$ expendeLI eX￿ded in￿rnIng 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 [r￿ve the thaiity forward. The review of the bU￿TreSs is ongoing anLI inejudes folki￿n9 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 t￿3￿ 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￿ ￿n￿￿tratity￿ 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 plann￿g ￿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 rep1ats￿￿nI prtches are availabk on adjaonl land to the tUr￿￿t 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{tst￿n 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 Su￿sSful 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 confiL*nt Ihai the going concern basis remains appropnate Further detai15 regarding the adoption of the going (x)r￿rn 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 unfe*rioled 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 per￿d and Ihs remains a bnyer lerrn target d. Investment prwern and policy Under the Mernoran¢um 8nd Artides ofA55Q￿at￿)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￿ saIrsf￿d that SySlem5 are In p￿rE 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 Imp￿mented the measures descri￿d etse*there in thts iepcsn 10 slrenglhen Ihe eharily's fin4n¢i•l poSit￿n 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$, Trustee PG Lipscomb, Trustee OR Goodier, Trustee PM Ri¢hardson, Trustee SE 83chmann, Tru51ee MP Newby, Trustee PA Quinn, Trustee (Resyned 28 Delxrrthr 202SI (De￿aSed 13 Noven*er 20241 IApFointed 16 Seplemter 20241 IAppointed 08 April 20251 (Appointed 07 January 20251 The Trustees meet as a comrtlee of management al quartwly Inier¥als lo re￿&v a￿l¥ll*S and a finanDal report None of the Iruslees has any benefioal interest Jn the mryany. Al ol the trustees a¥e ￿￿rnber8 of the company and guarantee to contribute £1 in the eveni of a winding up b. Appolntment of trustee$ As set cut in the Artrks ef AssoryaiioTh the trustee5. who fomi CLYnmitteÈ of Managernenl. are appointed as follows. The Pre5Klefjl, TreaSu￿r 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 Alban￿n Cric*ei 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 2￿4 The trustee5 h8ve control of the charity and rts property and fund5. The Operations Board 1$ Glaryed with re¥On￿bility for the conducl ol Ihe tharrtys opgraiion$. This Boord ha5 appointed extra embers posi yearend lo assist In the ChaI￿nge5 Charity frdces. The chalknge5 fa￿d Ind￿ an ageing buikjing, increased pitch Maintenan￿ i$$ue5, and the Impact of the ongoing cosl of INin9 cr￿15. This has resu￿ed in a more foryJsed rnanagerrenl of Ihe Ch3nty on a day lo day basvs and a rn)wng I0￿8rd 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 Inwol*d in planning for the ffulure aTrJ looking al the oppOrtUnrt￿ for th8 Charity which il then ieports lo the Trustees with appropiiale recOm￿n￿a￿ns d. Tru$ts• Inductlon •nd trainlng New IruslÈes underge an onenlatK•n wogrnnym lo br￿f Ihem on Ihew *al rt*1¥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 e￿8rDa1 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 Subs￿l0ry 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 Cric*el 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• sal*f*d thai syslem5 and proc¢duf85 are In plao te mitigate exposure to the major ri$k$. Plan8 for future perlod8 Th¢ Trust￿8 continue lo manage the lacility to ensur¢ that fft for wrpose and I￿ exploring rt8 use by other sports and organIsat￿n$ 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 Ar￿un￿ng 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 ￿t￿panY and the group and of the incorning resources a￿d application of resoUr￿S 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 prepar￿9 these accounts the trustees are required to". Se￿Ct suitable accounting poliaes and then app￿ them consi*entty". obsèrve the methods 2nd prinUp￿S 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 g￿Tr) cert￿r￿ 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￿ sufft*nt 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 Conffi￿n 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 approv￿1 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 fra￿￿ork 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 Ge￿ralty Accepled A￿OUntyng PraclKe'. have been prepared in accordance Mlh the iequireft*nls ofthe Compan*s 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 stslew*nis 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'$ Eth￿al Standard. and we ha￿ fulfilled our other elhic41 respon51b1lit￿S In accordance with the88 requifemen15. We bel￿Ve that the audrt eTr￿den￿ we have oblair￿d $Uffic￿nI 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 State￿nts 6 appropriate 88sed on the work we have perfom*d. we have noi hjenbfvd any ma*rial unc•rt8inlies ￿￿ling lo ew•nts or Conditions th81, IndivKJu311y or Co1￿CliVely. 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 responsibilit￿5 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 $0. consh1er whetheT the other Infomialion Is rnalerially Inconsisleni with the finanoal slaiemenls or our knOw￿dge obtained ln the WUf5e ol Ihe audrt. or otherwise appears 10 be maienally rnisslaied. 11 we Idenlrfy such material Inconsi$iencie5 or app8￿nI 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 pertom*d. we ¢X)nd￿je 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 env1ronft￿￿I 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' rernunerat￿n 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$' re5pon*biKlies. 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 $0. Audllor's responsibllilies for th• audlt ol the linaThclal statements Our objectives are lo oblaln reasenabie assuian¢e aboul whether ihe slaterrenls as a whole are free from ma￿rial mis51alemeni. whether due lo fraud oi •rior and to Issue an au¢Jilors report Ihal Indvde5 our opinion Reasonab* assurance Is 8 aigh level ol assurance, but Is nol a guaranlee thai an audrt eonducted In at￿rdance wrth ISAS IUKI will always detect a maieri•l misslalemertl when Il exists M15slalernenl$ ¢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 dO￿lOn$ of user$ tak•n on the bass of theso fin8ncial $131emenis. The extent 10 whKh our piocedums ale Capab￿ of deteaing Irregu￿rrthrys. Inc*Air4 frnud. s detaI￿d below The extent to whlch the audlt was cornid•red cap•ble ol de¢¢¢tiThJ Irregul•ritie8 Including fraud Our approach lo Idenlrfying and assessing Ihe Trsk$ ol malerol misstaieft*nl In resp¢¢t of Irregularilie5. Including fraud and non- compliance wilh18ws and iegulations, was a$ lolknws the engogerMnt partner en$￿￿d lThat the engagemeni team collettwety had the appropnaie coftyelence, capabilitie5 and ski115 10 Identify OF recognise nen-comp11an￿ wrth apPI￿Ab￿ iiws and TeguiAtK¢ns. we Identified Ihe laws and regulations applicab￿ 10 the group through d15CV5510ns with the dirnctors and other mana98meni. and from oui ujmmercial knowledge and expenen(* of the se¢xor they operate in we fo¢used on specific laws and regulaiK)ns which conside￿￿ may have a direcl matenal effed on the finanoal statements or the operations of the group. Including the Cempan*5 Act 2rTh. Charrt*$ Ad 2011. Charrties SORP, Charily Commission Regu￿tIOns. Letting$ legi%181ion and safety regulabon. an11-bri￿ry. ern￿oYment 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 a￿Jrt team regularfy and the ie*n 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 misstaieft*nl. induding obtaining an understanding of how fraud might occur by.. the engagement partner en￿rIng Ihat the eryagemeni team colecbvety had the appropriate cornpelence. Capabilities an skilL8 to Idenlrfy or recognise non4tynp11an￿ with applicab￿ and regUlat￿n5. conskleiin9 the Internal contrths tn Pla￿ to mrtyate risks of fraud and fionJrred • 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¢ go￿9 c•nc•rn basB. thè •nd dir•dor5 have Cons￿0r8d the Group's fin¥ncial POSitKn. the effea on tho value of ts assets and Irabilrt￿S Sin￿ the b8Lgn¢w ￿eel date. together wrth actual and expected future in¢?me and •xpenditure and cash requiremeThts. The Iru$tees' 85se55ment has taken into attount the actrons bethg Implemented followng the year end, as describod In th8 Financial Rev*w 5edion of the Tru$tee$' Rtr￿. These indude Inrtk8lNe$ 10 $ecure fiJnding from wrthin Ihe $port5 clubs, support base. which ¢omm&nced after the •nd r•rnain owoing, log¢ther wrth Iha 8ueu8sfiJl ￿P￿rr￿nt8￿On of the other adions described In thai reporL The trustees r•ecgni8e Ihat Cholity thntinues lo fa￿ (*•l*rys kn retsthin to goirvJ c4n¢em. However. hA*ing Cons￿er￿j the acb¢n$ being taken and the fumding inrtiil￿es Unde￿9Y. they ha￿ ¥ reasonab￿ expeL#at￿n Ihol the Ch8rty and it8 subswJiary have adeouale resour￿8 lo conts"n￿ in oper8lwal existence for Ihe foresee8bkn future. Acc£srdlngly. the tw$iee$ and dire¢torn continue to adoptthe gtyryd ¢4)fic*m basi& o18cc￿n￿.Thj In preparw these finanaal stateft*nts. 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$ ent*kn￿nI 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$5 wthout deduction for ￿lated expenditure. T following SpeCffj￿ police5 are applied lo parti¢uLgr calegor￿ of irKc¢ne.' Voluntary ino)me is r￿￿ed by way of donabon$ and gffts aTrJ N indthaed in ftrll in the Statement of Finanoal activrt*s whèn rtL¥wabl8. Investment infX)me k% inc*Jded 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 inTrled prTrnanly to Charitab￿ expendrture Advertisin9 and promolion ts)St5 have been allocated lo Fu￿raIsIng costs and Gowemance costs has b￿n 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 moin￿nan 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 ￿$tr￿ted puws totall￿9 £13.899 12024." £9.9401 for rugby and £nil12024 £1251 for cricket Unr•strfcted lund8 2025 R•strlcted funds 2025 T•t•l funds 2025 Other tsad*n9 costs.. Cost of sales Staff cesls Building expen5e5 Administration C0S15 441.999 333,595 7.023 fj6.853 441,999 333.595 7.023 66,853 849,470 849,470 Unresiricted funds 2024 Restricted fund5 2024 Total fuThd$ 2024 Other tradlng cosl5'. Cost of sa￿S 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 Ac￿￿ntancY 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 $alar*5 are ￿￿￿(janCY and le￿i￿a￿0n ¢osts of £nil 12024 £10.0001 ift¢urred by the group's trading subsidiary undertaking Okl Albank8n Sports Club Lmrted The 3vefage nurnber ol persons employed by Ihe Charty sjumg the year was as folfv$.' Group Group 2024 2025 Number of employees IGroupl Sales 5eFvices Management and administration 26 27 33 No ernployee re￿iVed rernuneotion armunling lo rn0￿ than £60.OC#) in either ￿ar. All employees We￿ ernployed by the Old Albanran spo￿ Club L*mited during the year Recharges of staff costs We￿ made lo the charty in the prior year as deiaikd In the note5. Sales and serVi￿S 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{va￿￿t basis. The Trustees and 0￿rab"On$ Board are a)n5Klered to tompri5e Ihe key rrTranageft*nl personnel ef the charty No trustee or board member ￿￿￿ed reMU￿ratIOn 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 re￿1¥￿ 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$p05a15 7.878.266 106.489 594.892 5,318 14.fj06 8.594,253 5,318 At 31 March 2025 7.878.288 1C6.489 800.210 14.806 8 599,571 Depreclallon and lffjpalm￿nt'. Al l April 2024 Charge for the year On disposals 3,5C4).800 157.565 50.248 4.372 542,480 11.820 7.152 1.491 4.100,680 175.248 Al 31 March 2025 3.698.365 54.620 554.3rKI 8,643 4.275.928 Carrylng amount.. Al 31 March 2025 4.219.901 51.869 45.910 5.963 4,323.643 Al 31 Mar¢h 2024 4.377.4fj6 56.241 52.412 7,451 4.493.573 15 Fixed 45¥et investrnents Charity Investments In subsidiary ¢ompafly Shares in subsldiarie Cost a$ at 31 March 2024 and at 31 Ma¢h 2025 The 5ub5hYiary undertaking. whith is wholly trwned ar¥J reg151er*J 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 p051t￿n of the subsK1*ry ¢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 se￿rItY 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 as￿19 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 Staten*nt 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 0￿rI￿n9 •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 ￿$h and cash equiva*nts 58.122 73,025 23 Anèly5i8 ol chang•s in net Idoblllfunds Group At At 31 MarGh 2025 Cash flows 2024 Cash at bank and in hand Bank over(Jrafts repayable on demand 73.025 114,9)31 58,122 73.025 114.9031 58.122 24 R8lated paty tr•nsactio Old AlbankHn Sports Associal￿n Limiie¢ I"OAS4"1 own$ 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) ￿Ll￿n9 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 Cr￿￿e1 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 addrt￿n. OASC made sa￿S 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 $8le5 of £56.75012024. £31.1691 to the Ohy Albanian Rugby Fooiball Club. At the year eTrJ the Old Albank8n Rugby Football Club OASA £6.54612024.. £2.6371 The Old Albanian Club ha5 exerosed Ihe nghl lo appoint merrthrs 10 Ihe OASA Board of Trustees and so is a related party of OASA The president of the Albanian Club hok1s an ex offioo appoinlnEnl lo the Sl Albans School Board. which ttas a conlrolling infiuenc* over the Sl Albans &hool Woollam Playing F￿ld Trust Ilhe Trusl"l. making th￿ a relate(J paty rhe Trust undertook ground maintenance for OASA at a cost of £70.265 12024" £86.7901 during Ihe year. At the yèarend OASA 0*4ed the Trust £nil 12024. £nill. Th& trustees pro¥KJed se￿ice$ 10 OASA of £nil12024." £3 4481 Tn the year. Al the year end there was no oulstandiNJ balan￿. All Iran5aCtKns wrth related part*s ￿re conduded ai arrn's ￿n91h arwj on rK•m*l (*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 lO￿ard 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