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← Lincolnshire Extreme Sports Association

2024-03-31-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 2024

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 2024

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 2024

The past year has seen us continue to grow, working with local council we have secured another year of "positive futures sessions" which are free sessions held on a Thursday evening open in two split sessions 8-13 and 13-19 year olds during term time. We have had a new CCTV system fitted, which was in need of updating for some time.

We have been working with the UK's national skateboarding body Skateboard GB. Skateboard GB is the driving force behind the UK athletes competing in the Olympics. For 2025, we have been chosen to host their survival of the sickest event (the UK's only junior skateboard event series under 12's and under 16's). The emphasis of these events is on fun and progression; these are a great opportunity for young skateboarders who want an introduction to competition. This will be a great boost to our advertising. We have received support from some large UK companies and this is helping to raise awareness and put us back on the map, these events also benefit local business such as B&B's, caravan sites etc. too.

Events

Bens Jam: The second Ben Devine memorial jam looks set to grow in size after the first comp was very well received. This year Betong parks made an offer to build a new obstacle outside, and they have very kindly committed to doing so each year, helping us to evolve the outside area, which will help keep users engaged.

Mini Ramp Champ: We have reintroduced our national championships event this year, set to take place in November 2024, previously this was our most successful event, and people were very happy to see it return.

The new trustees are still working very well as a team and everyone is very eager to push the park forward in the future. We are looking into several funding pots to enable us to refurb the internal layout and we are looking to approach this in phases to make it more achievable. We will continue with workshops and facility improvements as funds allow, we are looking at opening the cafe later in the year, which allow us to open 6 days a week in the summer. This will be a welcome return to parents and users alike. User numbers are continuing to rise and as we restyle the indoor layout we think this will give us a massive boost.

Page 1

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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 2024. 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 of investment has been successfully secured from a range of partners in order to situate the facility on its current location:

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LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES Significant activities CURRENT OPENING HOURS/PRICES

Term Time

Wednesday 5pm - 9pm Thursday (PF) 5pm - 6pm and 6pm - 7pm Saturday 10am - 2pm and 2pm - 6pm Sunday 12pm - 4pm

School Holidays

Monday 12pm - 4pm Tuesday closed Wednesday 5pm - 9pm Thursday 12pm - 4pm Friday 12pm - 4pm Saturday 10am - 2pm and 2pm - 6pm Sunday 12pm - 4pm

Prices (per session)

Session £14 or £20 all day

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

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 years and participation is now at an all-time high and as popular as ever making them the highest participation sports today. LESA will continue to market the centre as one of the UK's 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 on 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.

FINANCIAL REVIEW

Financial position

We aim to build on our current financial position as we attract new members. As mentioned in the chairman's report, our aim is to seek more funding to allow us to grow attract more visitors and event sponsors.

Page 3

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW

Reserves policy

The trustees aim to 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

While we have achieved a great amount of improvement this year, the facility is still in need of a new internal arena layout, which we are looking at funding for, we are also looking for funding pots to repaint the frontage of the building and rebrand, with new logos. We have an art exhibit booked in for 2025.

We are always looking to attract new funders, the current product consists of the indoor and outdoor skatepark. Many current users are content with the facility as it is and visit regularly and repeatedly.

We feel confident we can achieve and deliver future growth for the skatepark and look forward to offering more for our users in the future. The continued use of X-Site Skatepark shows the need for further development and we are planning to introduce more workshops both for young children and adults of all walks of life.

X-Site Skatepark continues to look into ways to reduce our environmental footprint, having already installed LED lighting. We are currently investigating several funding pots, which will enable to offer a variety of new activities including sporting activities and the arts.

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

Registered office

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

Page 4

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Trustees

A Cooke J J Harris T Walker C Cresswell (appointed 3.4.2023) M Grant L Roberts R Hurt L Pocklington (appointed 4.10.2023)

Independent Examiner

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

Approved by order of the board of trustees on 23 December 2024 and signed on its behalf by:

T Walker - 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 2024.

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

  2. 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

  3. 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

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

23 December 2024

Page 6

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

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----- Start of picture text -----
2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
-
Donations and legacies 20,842 20,842 15,079
Other trading activities 2 7,217 - 7,217 5,415
Total 28,059 - 28,059 20,494
EXPENDITURE ON
Raising funds 3,639 - 3,639 393
Charitable activities
Charitable Activities 44,665 204 44,869 27,579
Total 48,304 204 48,508 27,972
NET INCOME/(EXPENDITURE) (20,245) (204) (20,449) (7,478)
RECONCILIATION OF FUNDS
Total funds brought forward 32,018 797 32,815 40,293
TOTAL FUNDS CARRIED FORWARD 11,773 593 12,366 32,815
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The notes form part of these financial statements

Page 7

LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

BALANCE SHEET 31 MARCH 2024

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2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 7 2,151 593 2,744 3,729
CURRENT ASSETS
Stocks 8 353 - 353 355
Debtors 9 874 - 874 682
Cash at bank and in hand 11,483 - 11,483 30,201
-
12,710 12,710 31,238
CREDITORS
Amounts falling due within one year 10 (3,088) - (3,088) (2,152)
NET CURRENT ASSETS 9,622 - 9,622 29,086
TOTAL ASSETS LESS CURRENT
LIABILITIES 11,773 593 12,366 32,815
NET ASSETS 11,773 593 12,366 32,815
FUNDS 11
Unrestricted funds 11,773 32,018
Restricted funds 593 797
TOTAL FUNDS 12,366 32,815
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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...

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LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

BALANCE SHEET - continued 31 MARCH 2024

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 2024 and were signed on its behalf by:

T Walker - 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 2024

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

3.

OTHER TRADING ACTIVITIES
Equipment Sales 2024
2023
£
£
7,217
5,415
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Independent examination
Overprovision of accountancy
Depreciation - owned assets		 2024
2023
£
£
1,500
1,518
(150)
-
986
1,243

continued...

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LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

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
15,079
Other trading activities
5,415
Total
20,494
EXPENDITURE ON
Raising funds
393
Charitable activities
Charitable Activities
27,313
Total
27,706
NET INCOME/(EXPENDITURE)
(7,212)
RECONCILIATION OF FUNDS
Total funds brought forward
39,230
TOTAL FUNDS CARRIED FORWARD
32,018		 2024
1
Restricted
fund
£
-
-
-
-
266
266
(266)
1,063
797		 2023
1
Total
funds
£
15,079
5,415
20,494
393
27,579
27,972
(7,478)
40,293
32,815

continued...

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LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

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7. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£ £ £
COST
At 1 April 2023 and 31 March 2024 115,338 40,975 156,313
DEPRECIATION
At 1 April 2023 113,356 39,227 152,583
Charge for year 538 448 986
At 31 March 2024 113,894 39,675 153,569
NET BOOK VALUE
At 31 March 2024 1,444 1,300 2,744
At 31 March 2023 1,982 1,748 3,730
8. STOCKS
2024 2023
£ £
Stocks 353 355
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Prepayments 874 682
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 475 -
Accrued expenses 2,613 2,152
3,088 2,152
11. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£ £ £
Unrestricted funds
General fund 32,018 (20,245) 11,773
Restricted funds
Restricted Fund 797 (204) 593
TOTAL FUNDS 32,815 (20,449) 12,366
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continued...

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LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

11. MOVEMENT IN FUNDS - continued

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

Incoming
resources
£
Unrestricted funds
General fund
28,059
Restricted funds
Restricted Fund
-		 Resources
expended
£
(48,304)
(204)		 Movement
in funds
£
(20,245)
(204)
TOTAL FUNDS
28,059		 (48,508) (20,449)
Comparatives for movement in funds
At 1.4.22
£
Unrestricted funds
General fund
39,230
Restricted funds
Restricted Fund
1,063		 Net
movement
in funds
£
(7,212)
(266)		 At
31.3.23
£
32,018
797
TOTAL FUNDS
40,293		 (7,478) 32,815
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
20,494
Restricted funds
Restricted Fund
-		 Resources
expended
£
(27,706)
(266)		 Movement
in funds
£
(7,212)
(266)
TOTAL FUNDS
20,494		 (27,972) (7,478)

continued...

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LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

11. MOVEMENT IN FUNDS - continued

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

At 1.4.22
£
Unrestricted funds
General fund
39,230
Restricted funds
Restricted Fund
1,063		 Net
movement
At
in funds
31.3.24
£
£
(27,457)
11,773
(470)
593
TOTAL FUNDS
40,293		 (27,927)
12,366

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

Unrestricted funds
General fund
Restricted funds
Restricted Fund		 Incoming
Resources
resources
expended
£
£
48,553
(76,010)
-
(470)		 Movement
in funds
£
(27,457)
(470)
TOTAL FUNDS 48,553
(76,480)		 (27,927)

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

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LINCOLNSHIRE EXTREME SPORTS ASSOCIATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

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2024 2023
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 300 -
Membership fees 20,542 15,079
20,842 15,079
Other trading activities
Equipment Sales 7,217 5,415
Total incoming resources 28,059 20,494
EXPENDITURE
Other trading activities
Opening stock 355 58
Purchases 3,637 690
Closing stock (353) (355)
3,639 393
Charitable activities
Wages 13,625 10,909
Rates and water 1,248 3,142
Insurance 6,142 3,313
Light and heat 9,434 4,717
Telephone 707 580
Postage and stationery 258 -
Advertising and website 11 21
Repairs and renewals 7,236 168
Licences and subscriptions 601 377
Sundries 160 -
Cleaning and waste disposal 171 417
Prizes 1,500 -
Legal and professional fees 393 394
Credit card charges 894 780
PAYE interests 4 -
Training 150 -
42,534 24,818
Support costs
Finance
Depreciation of tangible fixed assets 985 1,243
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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 2024

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----- Start of picture text -----
2024 2023
£ £
Finance
Governance costs
Independent examination 1,350 1,518
Total resources expended 48,508 27,972
Net expenditure (20,449) (7,478)
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This page does not form part of the statutory financial statements

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