OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-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 2022

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 2022

Page
Chairman's Report 1
Report of the Trustees 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 14
Detailed Statement of Financial Activities 15 to 16

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2022

The past year has been successful for us as a business for the most part but has also been challenging in other ways. As the world learned to live with COVID and we started to ease out of the restrictions during the summer of 2021 we were able to try and get back to running our skatepark how we always had done prior to the pandemic. This had been a fairly simple process as we have just reverted to how things were while trying to maintain a safe environment for our users by still providing hand sanitiser and a strict cleaning schedule to help protect both them and staff.

The business has continued to run well and our customers have kept coming back as always. We had a very successful summer due to the huge influx of visitors to the town seeking a summer getaway now that they were able to enjoy holidays again. It was good to see our facility being used to it's potential again after all of the stress of lockdown.

Once the summer ended our business went back down to it's usual level and we continued like that through to the end of the financial year. Due to the amount of government funding we received over lockdown we are very comfortable financially now but not running at a level where we are making a good profit sadly. This is an ongoing issue but without being able to expand the business to bring in a new or wider client base it is not going to change. Our building is now needing a lot of repair work which we are in the process of working towards but this will all be a costly undertaking which we need to carefully consider before spending large amounts of our cash reserve on.

The trustee group are trying to bring new members on board to help move the business forward but it is a difficult process to find the right people with good skills and experience that can help make a difference. Hopefully we can find people who can help us move things forward to take the business to the next phase and potentially develop the skatepark in other ways that would attract a wider user base. This is something that is definitely needed due to the drop in core users over the last few years but it is an ominous task for the current small trustee group to take on.

Hopefully we will be able to push things forward and see the business develop into something more that can attract new users while still maintaining our core values that we started with.

Gary Skinner Chairman of the Trustees

Page 1

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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 2022. 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 2

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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 3

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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 £12,999 and are able to carry forward total funds of £40,293 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 4

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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 2022 and signed on its behalf by:

G Skinner - Trustee

Page 5

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 2022.

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 2022

Page 6

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
-
Donations and legacies 31,273 31,273 43,823
Other trading activities 2 4,106 - 4,106 2,315
Total 35,379 - 35,379 46,138
EXPENDITURE ON
Raising funds 459 - 459 1,558
Charitable activities
Charitable Activities 21,567 354 21,921 22,761
Total 22,026 354 22,380 24,319
NET INCOME/(EXPENDITURE) 13,353 (354) 12,999 21,819
RECONCILIATION OF FUNDS
Total funds brought forward 25,877 1,417 27,294 5,475
TOTAL FUNDS CARRIED FORWARD 39,230 1,063 40,293 27,294
----- End of picture text -----

The notes form part of these financial statements

Page 7

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

BALANCE SHEET 31 MARCH 2022

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 7 3,910 1,063 4,973 6,629
CURRENT ASSETS
Stocks 8 58 - 58 196
Debtors 9 682 - 682 699
Cash at bank and in hand 36,343 - 36,343 23,792
-
37,083 37,083 24,687
CREDITORS
Amounts falling due within one year 10 (1,763) - (1,763) (4,022)
NET CURRENT ASSETS 35,320 - 35,320 20,665
TOTAL ASSETS LESS CURRENT
LIABILITIES 39,230 1,063 40,293 27,294
NET ASSETS 39,230 1,063 40,293 27,294
FUNDS 11
Unrestricted funds 39,230 25,877
Restricted funds 1,063 1,417
TOTAL FUNDS 40,293 27,294
----- End of picture text -----

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 8

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

BALANCE SHEET - continued 31 MARCH 2022

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 2022 and were signed on its behalf by:

G Skinner - Trustee

The notes form part of these financial statements

Page 9

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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

OTHER TRADING ACTIVITIES
Equipment Sales 2022
2021
£
£
4,106
2,315
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Independent examination
Depreciation - owned assets		 2022
2021
£
£
1,530
1,308
1,656
2,209

3. NET INCOME/(EXPENDITURE)

continued...

Page 10

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

5. STAFF COSTS

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

6.

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
43,823
Other trading activities
2,315
Total
46,138
EXPENDITURE ON
Raising funds
1,558
Charitable activities
Charitable Activities
22,289
Total
23,847
NET INCOME/(EXPENDITURE)
22,291
RECONCILIATION OF FUNDS
Total funds brought forward
3,586
TOTAL FUNDS CARRIED FORWARD
25,877		 2022
1
Restricted
fund
£
-
-
-
-
472
472
(472)
1,889
1,417		 2021
1
Total
funds
£
43,823
2,315
46,138
1,558
22,761
24,319
21,819
5,475
27,294

continued...

Page 11

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

7. TANGIBLE FIXED ASSETS

Plant and
machinery
£
COST
At 1 April 2021 and 31 March 2022
115,338
DEPRECIATION
At 1 April 2021
111,815
Charge for year
880
At 31 March 2022
112,695
NET BOOK VALUE
At 31 March 2022
2,643
At 31 March 2021
3,523
8.
STOCKS
Stocks
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accrued expenses
11.
MOVEMENT IN FUNDS
At 1.4.21
£
Unrestricted funds
General fund
25,877
Restricted funds
Restricted Fund
1,417
TOTAL FUNDS
27,294		 Fixtures
and
fittings
£
40,975
37,869
776
38,645
2,330
3,106
2022
£
58
2022
£
682
2022
£
-
1,763
1,763
Net
movement
in funds
£
13,353
(354)
12,999		 Totals
£
156,313
149,684
1,656
151,340
4,973
6,629
2021
£
196
2021
£
699
2021
£
1,263
2,759
4,022
At
31.3.22
£
39,230
1,063
40,293

continued...

Page 12

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

11. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
35,379
(22,026)
Restricted funds
Restricted Fund
-
(354)		 Movement
in funds
£
13,353
(354)
TOTAL FUNDS
35,379
(22,380)		 12,999
Comparatives for movement in funds
Net
movement
At 1.4.20
in funds
£
£
Unrestricted funds
General fund
3,586
22,291
Restricted funds
Restricted Fund
1,889
(472)		 At
31.3.21
£
25,877
1,417
TOTAL FUNDS
5,475
21,819		 27,294
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
46,138
(23,847)
Restricted funds
Restricted Fund
-
(472)		 Movement
in funds
£
22,291
(472)
TOTAL FUNDS
46,138
(24,319)		 21,819

continued...

Page 13

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

11. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Restricted funds
Restricted Fund		 At 1.4.20
£
3,586
1,889		 Net
movement
in funds
£
35,644
(826)		 At
31.3.22
£
39,230
1,063
TOTAL FUNDS 5,475 34,818 40,293
A current year 12 months and prior year 12 months combined net movement in funds, included in the above
as follows:
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
Unrestricted funds
General fund
81,517
(45,873)
35,644
Restricted funds
Restricted Fund
-
(826)
(826)
TOTAL FUNDS 81,517 (46,699) 34,818

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

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

Page 14

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
2022 2021
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations - 1,967
Grants - 6,653
Membership fees 11,687 6,588
JRS grants 1,586 4,865
ELDC Covid grants 18,000 23,750
31,273 43,823
Other trading activities
Equipment Sales 4,106 2,315
Total incoming resources 35,379 46,138
EXPENDITURE
Other trading activities
Opening stock 196 359
Purchases 321 1,395
Closing stock (58) (196)
459 1,558
Charitable activities
Wages 9,811 9,931
Rates and water 1,222 928
Insurance 2,574 2,733
Light and heat 3,016 2,352
Telephone 541 580
Advertising and website 209 93
Sundries 26 -
Repairs and renewals 189 1,129
Licences and subscriptions 175 369
Cleaning and waste disposal 94 71
Legal and professional fees 120 414
Bank charges - 72
Credit card charges 757 572
18,734 19,244
Support costs
Finance
Depreciation of tangible fixed assets 1,657 2,209
----- End of picture text -----

This page does not form part of the statutory financial statements

Page 15

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
2022 2021
£ £
Finance
Governance costs
Auditors' remuneration 1,530 1,308
Total resources expended 22,380 24,319
Net income 12,999 21,819
----- End of picture text -----

This page does not form part of the statutory financial statements

Page 16