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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 05737359 (England and Wales) REGISTERED CHARITY NUMBER: 1108889

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

Dexter & Sharpe (Skegness) Chartered Certified Accountants 26 Ida Road Skegness Lincolnshire PE25 2AR

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Chairman's Report 1 to 2
Report of the Trustees 3 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Notes to the Financial Statements 11 to 16
Detailed Statement of Financial Activities 17 to 18

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2021

Like most businesses across the country the last eighteen months have proved to be very challenging and we have faced many issues that have made us rethink the way we operate to provide our users with a safe place to practice their extreme sports. As we entered the 2020/21 financial year we were faced with a business that was forced to close its door due to the new restrictions that were put in place due to the arrival of COVID 19. This was a huge disappointment to both the users and staff who were all left with the uncertainty of what would happen to their cherished facility and whether the doors would even reopen.

As trustees holding the responsibility to deal with this issue we all had to come together quickly to work out how we could survive this potentially disastrous situation. Luckily we were able to place the staff on the government furlough scheme which gave us a relief that we could keep them on a reasonable wage during the whole situation.

The initial idea was to set up a Just Giving page in order to try and ask for help in the form of donations from users and the local community to help us raise any amount of money. This was to help towards the costs that were still being incurred in the form of regular bill payments that would not stop even though we were not operating. The response that we had to this was overwhelming and surpassed all of our possible expectations, we received just short of £2000 in donations during the months that it ran and this help played a significant role in keeping us going in the first weeks of closure.

We applied to two emergency funding grants which were set up to try and help charities like us survive in the lockdown period and thankfully we were successful in being awarded £5903 from a Sport England grant. Receiving this funding was a huge moment and really allowed us to have a more optimistic outlook on what the future held for us knowing we now had a good financial reserve to help keep us safe.

A funding opportunity also came in the form of a Town Council grant that was awarded to us on application by 4 local councillors to the value of £2000. This again added to our reserve of funds to allow us to plan for a future that we were very unsure of at the start of the lockdown.

Over this period we also worked to try and reduce any monthly overheads that we had in any way in order to helps us save as much as possible. As the lockdown entered the summer months and finally came to an end we were able to reopen on 25th July but with some very different working practices in place in order for us to be able to offer a safe and clean facility for our users. We added in new session times with a reduced capacity to comply with social distancing restrictions. To help us deal with controlling customer numbers more efficiently we switched over to a new online booking and prepayment system which we found to work very well. This system carried on throughout the summer months and we had a good steady business albeit a little lower numbers than usual due in part to our capacity restrictions but also due to a less busy summer for the town itself.

On reopening we also took the opportunity to review our prices. This is something that we have tried our best to keep low and competitive for a number of years now and we have definitely been one of the cheapest parks in the country compared to a lot of similar sized venues. We reflected on the prices that other parks now charge and took the decision to make a small increase and charge a flat rate of £8 per session to every user and do away with the old membership scheme. This was met with varied feedback from our users but we feel that it is reasonable and also compared to prices for other attractions in the town it definitely still makes us a very good value for money facility.

We continued on from summer until the end of October when we were then faced with the second national lockdown which forced us to close the doors once again. While this was another blow to the business we met it with a little less trepidation than originally due to us having been able to secure the funds we had during the previous lockdown which allowed us to have a good stable bank balance with which to cover the monthly bills that we still had. We were again able to place staff on furlough which gave them and us peace of mind that their jobs were safe.

Page 1

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2021

It was during this lockdown that the government changed the eligibility for the funding that they offered. This allowed us to receive all of the funding that they offered during the whole of this lockdown period. While being closed was obviously a blow to us as a facility the amount of government funding that we received in this period, totalling over £30,000, was phenomenal. This gave us the huge opportunity to reopen our doors with a healthy bank balance to start rebuilding the business and make plans for doing a lot of upgrades and repairs to the skatepark and the building itself that have had to be put on hold for a long time due to the pandemic. While COVID 19 has hit us and other local businesses hard we have been very lucky to make it through to be at the stage we are now with a chance to carry on and look to improve our facility and keep it running for as long as possible. Although the pandemic is definitely not over we have learned to run our business the best we can despite it and to provide our customers with the safest environment we can to practice the extreme sports they love.

Gary Skinner

Chairman of the Trustees

Page 2

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims

Lincolnshire Extreme Sports Association was formed in October 2000. We are a registered charity (Charity Number: 1108889) and company limited by guarantee (Business Number 5737359). We are a non profit organisation with our main purpose being to provide a range of healthy, social, recreational, cultural and sporting activities to all ages and abilities especially young people living in areas of multiple deprivation and rural isolation. Lincolnshire Extreme Sports Association was formed in October 2000 following three long years of highlighting to the authorities that there was a real need to provide facilities to cater for extreme sports within Lincolnshire. The popularity of extreme sports is growing at a fantastic rate, not only in the county but also in the country. The UK has seen a significant rise in the number of people of all ages becoming enthusiasts of wheeled sports, with many groups keen to try and develop a facility within their particular area.

1.6 million pounds of investment has been successfully secured from a range of partners in order to situate the facility on its current location:

o Skegness Town Council

o East Lindsey District Council

o Lincolnshire County Council

o Lincolnshire Enterprise (EMDA)

o East Lindsey Crime Disorder Partnership

o New Opportunity Fund

o European Regional Development Fund

o WREN

o Sport England Active England programme

o Children's Links

o Big Lottery Fund

o Coastal Action zone

o Coastal Regeneration Partnership

o Youth Capital Fund

o Community Sustainable Energy programme

o Low Carbon Buildings Programme

o Garfield Western Foundation

o Centrica

Page 3

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES Significant activities

CURRENT OPENING HOURS/PRICES

Term Time

Weds 5pm - 8pm Saturdays 10am - 1pm and 2pm - 5pm Sundays 1pm - 4pm

School Holidays

Monday/Tues closed Wednesday 5pm - 8pm Thursday 1pm - 4pm Friday 1pm - 4pm Saturday 10am - 1pm and 2pm - 5pm Sunday 1pm - 4pm

Prices (per session)

Session £8

We also offer a great range of equipment for hire at £2 per session.

CAFE

The cafe was an integral part of our centre and we have been lucky to have some great tenants in place for customers to enjoy taking break. Sadly the last tenant was not replaced due to the pandemic and so the cafe is currently empty. Due to this ongoing issue we are currently looking into ways that the space could potentially be redeveloped into something else that would perhaps diversify our facility to offer something that we currently do not have. This will be something that we will have to look at applying for some sort of grant funding towards and so the process is ongoing at present.

ACHIEVEMENT AND PERFORMANCE Charitable activities

Lincolnshire Extreme Sports Association's marketing message is to promote the centre as a unique facility and opportunity for people of all ages, backgrounds and abilities to take part in a range of extreme sports, cultural opportunities and artistic experiences. Extreme sports have continued to grow steadily over the past thirty-five years and participation is now at an all time high and as popular as ever making them the highest participation sports today.

LESA plan to continue to market the centre as the only purpose built, all year round, indoor and outdoor wheeled sports facility, that is of National and International competition standard and which attracts the top competitors, companies and sponsors, not only to the facility, but also into the local community. It will continue to have a huge impact in relation to sporting opportunities and in raising the profile of these sports as well as continuing to provide a number of opportunities for local people to progress in their chosen activity.

In terms of promotion, X-Site Skatepark has a dedicated website which is updated regularly to keep user information up to date. We also have a large presence in all of the social media sites such as Facebook and Instagram. All of these things are constantly linked to provide content updates on what is happening at the skatepark. The current facility also receives coverage in the local media occasionally; this is an area that the association sees as needing to be developed further in order to generate local interest and support. The flyers and leaflets that LESA currently distribute will continue to be key in order to continue to tap into the visitor and local markets.

The regional and national events we are involved in are regularly featured on leading websites and forums, publications and video sharing sites, with a large selection of edits on Youtube ranging from amateur to professional standards. This is a fantastic way of showcasing our facility.

Page 4

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

FINANCIAL REVIEW

Financial position

The availability of grant funding and the decrease in expenditure resulting from Covid related closures has meant we ended the year with a healthy surplus of £21,819 and are able to carry forward total funds of £27,294 to help us to maintain and add to our services going forward.

Reserves policy

The trustees aim to have keep sufficient funds in reserve to meet unexpected expenses and to cover costs for a few months in the event of unforeseen closures such as those resulting from Covid 19. While we entered the first Covid lockdown with only limited reserves, the hard work of the trustees in sourcing and bidding for other funds, as described in the Chairman's report, meant that we continued to improve our position this year and built up a more comfortable cushion against further restrictions on our activities.

FUTURE PLANS

The facility is still in need of redevelopment and investment to enable it to continue to meet the needs of its users and those needs of potential new users. Staff members, Trustees and volunteers have attempted to improve the facility but have had only basic resources to do so with, and as an addition to their main roles and responsibilities.

The current product consists of the indoor and outdoor skatepark. Many current users are content with the current facility as it is and visit regularly and repeatedly, but they do feel that the facility could be offering more. The continuing visitors to X-Site Skatepark shows the need for further development and the need to offer a wider selection of products and services from the facility. Overall X-Site Skatepark proves to play a huge part in local peoples lives and we hope to continue to create, develop and promote opportunities for all the community to participate in sport, physical activity, art and cultural experiences despite the limitations that COVID 19 has placed on all of our lives.

We are always looking into new ways to improve our energy footprint and are currently developing a plan to replace the lighting in the main skatepark to LED lighting. This involved a set of grant applications that would hopefully allow us to fund this work. Sadly we were unlucky in our application for this redevelopment in April 2020 and so were are now working on using some of the government funding that was made available to us in order to help towards improving the lightning.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure

The current management structure within the organisation is as follows :

Trustee Committee

Skatepark Assistants

Volunteers

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05737359 (England and Wales)

Registered Charity number

1108889

Page 5

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Registered office

X-Site Skate Park Sea View Pullover Skegness Lincolnshire PE25 1BF

Trustees

A Cooke G Skinner C Spring J J Harris

Independent Examiner

Mrs Nicola Lenton FCCA Chartered Certified Accountant Dexter & Sharpe (Skegness) Chartered Certified Accountants 26 Ida Road Skegness Lincolnshire PE25 2AR

Approved by order of the board of trustees on 23 December 2021 and signed on its behalf by:

G Skinner - Trustee

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

Independent examiner's report to the trustees of Lincolnshire Extreme Sports Association ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mrs Nicola Lenton FCCA Chartered Certified Accountant Dexter & Sharpe (Skegness) Chartered Certified Accountants 26 Ida Road Skegness Lincolnshire PE25 2AR

23 December 2021

Page 7

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
Restricted
fund
fund
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
43,823
-
Other trading activities
2
2,315
-
Investment income
3
-
-
Total
46,138
-
EXPENDITURE ON
Raising funds
1,558
-
Charitable activities
Charitable Activities
22,289
472
Total
23,847
472
NET INCOME/(EXPENDITURE)
22,291
(472)
RECONCILIATION OF FUNDS
Total funds brought forward
3,586
1,889
TOTAL FUNDS CARRIED FORWARD
25,877
1,417		 2021
Total
funds
£
43,823
2,315
-
46,138
1,558
22,761
24,319
21,819
5,475
27,294		 2020
Total
funds
£
26,807
8,904
2,100
37,811
3,363
40,192
43,555
(5,744)
11,219
5,475

The notes form part of these financial statements

Page 8

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

BALANCE SHEET 31 MARCH 2021

Unrestricted
Restricted
fund
fund
Notes
£
£
FIXED ASSETS
Tangible assets
8
5,212
1,417
CURRENT ASSETS
Stocks
9
196
-
Debtors
10
699
-
Cash at bank and in hand
23,792
-
24,687
-
CREDITORS
Amounts falling due within one year
11
(4,022)
-
NET CURRENT ASSETS
20,665
-
TOTAL ASSETS LESS CURRENT
LIABILITIES
25,877
1,417
NET ASSETS
25,877
1,417
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2021
Total
funds
£
6,629
196
699
23,792
24,687
(4,022)
20,665
27,294
27,294
25,877
1,417
27,294		 2020
Total
funds
£
8,838
359
694
813
1,866
(5,229)
(3,363)
5,475
5,475
3,586
1,889
5,475

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 9

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

BALANCE SHEET - continued 31 MARCH 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 23 December 2021 and were signed on its behalf by:

G Skinner - Trustee

The notes form part of these financial statements

Page 10

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. OTHER TRADING ACTIVITIES

2. OTHER TRADING ACTIVITIES
2021 2020
£ £
Equipment Sales 2,315 8,904
3. INVESTMENT INCOME
2021 2020
£ £
Rents received - 2,100

continued...

Page 11

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2021 2020
£ £
Independent examination 1,308 1,308
Depreciation - owned assets 2,209 2,946

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

7.

Administration
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
26,807
Other trading activities
8,904
Investment income
2,100
Total
37,811
EXPENDITURE ON
Raising funds
3,363
Charitable activities
Charitable Activities
39,563
Total
42,926
NET INCOME/(EXPENDITURE)
(5,115)
Transfers between funds
1,405		 2021
1
Restricted
fund
£
-
-
-
-
-
629
629
(629)
(1,405)		 2020
2
Total
funds
£
26,807
8,904
2,100
37,811
3,363
40,192
43,555
(5,744)
-

continued...

Page 12

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
fund
£
£
Net movement in funds
(3,710)
(2,034)
RECONCILIATION OF FUNDS
Total funds brought forward
7,296
3,923
TOTAL FUNDS CARRIED FORWARD
3,586
1,889
8.
TANGIBLE FIXED ASSETS
Fixtures
Plant and
and
machinery
fittings
£
£
COST
At 1 April 2020 and 31 March 2021
115,338
40,975
DEPRECIATION
At 1 April 2020
110,641
36,834
Charge for year
1,174
1,035
At 31 March 2021
111,815
37,869
NET BOOK VALUE
At 31 March 2021
3,523
3,106
At 31 March 2020
4,697
4,141
9.
STOCKS
2021
£
Stocks
196
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Prepayments
699		 Total
funds
£
(5,744)
11,219
5,475
Totals
£
156,313
147,475
2,209
149,684
6,629
8,838
2020
£
359
2020
£
694

continued...

Page 13

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021 2020
£ £
Trade creditors 1,263 1,091
Accrued expenses 2,759 4,138
4,022 5,229
MOVEMENT IN FUNDS
Net
movement At
At 1.4.20 in funds 31.3.21
£ £ £
Unrestricted funds
General fund 3,586 22,291 25,877
Restricted funds
Restricted Fund 1,889 (472) 1,417
TOTAL FUNDS 5,475 21,819 27,294
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 46,138 (23,847) 22,291
Restricted funds
Restricted Fund - (472) (472)
TOTAL FUNDS 46,138 (24,319) 21,819
Comparatives for movement in funds
Net Transfers
movement between At
At 1.4.19 in funds funds 31.3.20
£ £ £ £
Unrestricted funds
General fund 7,296 (5,115) 1,405 3,586
Restricted funds
Restricted Fund 3,923 (629) (1,405) 1,889
TOTAL FUNDS 11,219 (5,744) - 5,475

12. MOVEMENT IN FUNDS

continued...

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LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 37,811 (42,926) (5,115)
Restricted funds
Restricted Fund - (629) (629)
TOTAL FUNDS 37,811 (43,555) (5,744)

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1.4.19 in funds funds 31.3.21
£ £ £ £
Unrestricted funds
General fund 7,296 17,176 1,405 25,877
Restricted funds
Restricted Fund 3,923 (1,101) (1,405) 1,417
TOTAL FUNDS 11,219 16,075 - 27,294

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 83,949 (66,773) 17,176
Restricted funds
Restricted Fund - (1,101) (1,101)
TOTAL FUNDS 83,949 (67,874) 16,075

Page 15

continued...

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 16

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

2021 2020
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 1,967 400
Grants 6,653 1,066
Membership fees 6,588 25,341
JRS grants 4,865 -
ELDC Covid grants 23,750 -
43,823 26,807
Other trading activities
Equipment Sales 2,315 8,904
Investment income
Rents received - 2,100
Total incoming resources 46,138 37,811
EXPENDITURE
Other trading activities
Opening stock 359 527
Purchases 1,395 3,195
Closing stock (196) (359)
1,558 3,363
Charitable activities
Wages 9,931 19,603
Rates and water 928 4,715
Insurance 2,733 4,061
Light and heat 2,352 4,279
Telephone 580 619
Advertising and website 93 248
Repairs and renewals 1,129 310
Licences and subscriptions 369 408
Sundries - 293
Cleaning and waste disposal 71 183
Legal and professional fees 414 357
Bank charges 72 20
Credit card charges 572 843
19,244 35,939
Support costs

This page does not form part of the statutory financial statements

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LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

2021 2020
£ £
Support costs
Finance
Depreciation of tangible fixed assets 2,209 2,945
Governance costs
Auditors' remuneration 1,308 1,308
Total resources expended 24,319 43,555
Net income/(expenditure) 21,819 (5,744)

This page does not form part of the statutory financial statements

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