REGISTERED COMPANY NUMBER: 06446869 (England and Wales) REGISTERED CHARITY NUMBER: 1124164
Report of the Trustees and Financial Statements For The Year Ended 31st December 2022
for
Wheeled Sports 4 Hereford Ltd
Baker Britt Chartered Accountants 63 High Street Chislehurst Kent BR7 5BE
Wheeled Sports 4 Hereford Ltd
Contents of the Financial Statements For The Year Ended 31st December 2022
| Page | ||
|---|---|---|
| Report of the Trustees | 1 to | 2 |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | |
| Notes to the Financial Statements | 6 to | 11 |
| Detailed Statement of Financial Activities | 12 |
Wheeled Sports 4 Hereford Ltd
Report of the Trustees For The Year Ended 31st December 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 31st December 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
The object of the Charity is to provide or assist in the provision of recreational facilities in or near Hereford for young people, with the object of improving their conditions of life, in particular to provide for such persons facilities for skateboarding, roller skating, cycling and similar activities.
The Charity provides a safe, purpose-built, free, accessible outdoor facility in Hereford to allow young people to skate unhindered and thus remove the dangers to themselves and pedestrians by locating them a suitable environment. This facility also provides a purposeful leisure activity for young people as a diversion from anti-social behaviour.
The provision of the skate park provides a Centre of Excellence for alternative sports in Hereford which specifically meets the needs of the young people practising those sports.
The location of the skate park in Hereford ensures that the benefits of the skate park can be enjoyed by the whole population of skateboarders in Herefordshire and surrounding areas.
Review of the Year
Due to the pandemic, the closure of the skatepark and the Coaching Clubhouse and Boom Box skateboard equipment shop had a significant impact on our ability to cover ongoing costs. Fortunately Government grants given to assist during the pandemic have helped to compensate for this loss.
Hereford Skatepark was invited to become part of Hereford's £25 million Town Fund application to the Government. Our project would double the size of the skatepark at a cost of £500,000.
Previous optimism regarding negotiations with the local authority to complete an Asset Transfer of the skatepark land seems to have been misplaced as there have been no further discussions.
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.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06446869 (England and Wales)
Registered Charity number
1124164
Registered office
63 High Street Chislehurst Kent BR7 5BE
Page 1
Wheeled Sports 4 Hereford Ltd
Report of the Trustees For The Year Ended 31st December 2022
Trustees
M Hatter A B Murphy D A B Rouse B J Stephens (resigned 5/6/2023) S R Stephens D J Grice J M Pilkington A J Johnson W R Newby C I Arthur C A Hamilton J R Newby (resigned 1/12/2022) R Newby (resigned 1/12/2022) J Hoar J J Sutton (appointed 9/9/2022) K Lee (appointed 9/9/2022)
Independent Examiner
Baker Britt Chartered Accountants 63 High Street Chislehurst Kent BR7 5BE
Approved by order of the board of trustees on 29th August 2023 and signed on its behalf by:
C I Arthur - Trustee
Page 2
Independent Examiner's Report to the Trustees of Wheeled Sports 4 Hereford Ltd
Independent examiner's report to the trustees of Wheeled Sports 4 Hereford Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Mr P E Britt
Baker Britt Chartered Accountants 63 High Street Chislehurst Kent BR7 5BE
29th August 2023
Page 3
Wheeled Sports 4 Hereford Ltd
Statement of Financial Activities For The Year Ended 31st December 2022
| Unrestricted Restricted funds fund Notes £ £ INCOME AND ENDOWMENTS FROM Charitable activities General - 17,950 Other trading activities 2 25,605 - Investment income 3 16 - Total 25,621 17,950 EXPENDITURE ON Raising funds 19,563 - Charitable activities General 14,960 5,378 Other 1,839 - Total 36,362 5,378 NET INCOME/(EXPENDITURE) (10,741) 12,572 RECONCILIATION OF FUNDS Total funds brought forward 15,544 21,514 TOTAL FUNDS CARRIED FORWARD 4,803 34,086 |
2022 Total funds £ 17,950 25,605 16 43,571 19,563 20,338 1,839 41,740 1,831 37,058 38,889 |
2021 Total funds £ 16,898 8,024 1 24,923 5,734 28,078 - 33,812 (8,889) 45,947 37,058 |
|---|---|---|
The notes form part of these financial statements
Page 4
Wheeled Sports 4 Hereford Ltd
Balance Sheet 31st December 2022
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Stocks 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 £ 16,135 5,000 19,539 24,539 (1,785) 22,754 38,889 38,889 4,803 34,086 38,889 |
2021 £ 21,514 4,000 12,744 16,744 (1,200) 15,544 37,058 37,058 15,544 21,514 37,058 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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 29th August 2023 and were signed on its behalf by:
C I Arthur - Trustee
The notes form part of these financial statements
Page 5
Wheeled Sports 4 Hereford Ltd
Notes to the Financial Statements For The Year Ended 31st December 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 25% on reducing balance Plant and machinery - 25% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Page 6
continued...
Wheeled Sports 4 Hereford Ltd
Notes to the Financial Statements - continued For The Year Ended 31st December 2022
2. OTHER TRADING ACTIVITIES
| Equipment and canteen sales Donations 3. INVESTMENT INCOME Deposit account interest 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2022 £ 25,319 286 25,605 2022 £ 16 2022 £ 5,379 |
2021 £ 6,296 1,728 |
|
|---|---|---|---|
| 8,024 | |||
| 2021 £ 1 |
|||
| 2021 £ 8,168 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted funds fund £ £ INCOME AND ENDOWMENTS FROM Charitable activities General 16,898 - Other trading activities 8,024 - Investment income 1 - Total 24,923 - EXPENDITURE ON Raising funds 5,734 - Charitable activities General 20,907 7,171 Total 26,641 7,171 |
Total funds £ 16,898 8,024 1 |
|---|---|
| 24,923 | |
| 5,734 28,078 |
|
| 33,812 |
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continued...
Wheeled Sports 4 Hereford Ltd
Notes to the Financial Statements - continued For The Year Ended 31st December 2022
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds fund £ £ NET INCOME/(EXPENDITURE) (1,718) (7,171) RECONCILIATION OF FUNDS Total funds brought forward 17,262 28,685 TOTAL FUNDS CARRIED FORWARD 15,544 21,514 7. TANGIBLE FIXED ASSETS Freehold Plant and property machinery £ £ COST At 1st January 2022 and 31st December 2022 474,348 3,990 DEPRECIATION At 1st January 2022 452,834 3,990 Charge for year 5,379 - At 31st December 2022 458,213 3,990 NET BOOK VALUE At 31st December 2022 16,135 - At 31st December 2021 21,514 - 8. STOCKS 2022 £ Stocks 5,000 |
Total funds £ (8,889) 45,947 37,058 Totals £ 478,338 456,824 5,379 462,203 16,135 21,514 2021 £ 4,000 |
|---|---|
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continued...
Wheeled Sports 4 Hereford Ltd
Notes to the Financial Statements - continued For The Year Ended 31st December 2022
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| £ | £ | |||||
| Social security and other taxes | (331) | - | ||||
| Other creditors | 416 | - | ||||
| Accruals and deferred income | 1,700 | 1,200 | ||||
| 1,785 | 1,200 | |||||
| 10. | ANALYSIS OF NET ASSETS BETWEEN FUNDS | |||||
| 2022 | 2021 | |||||
| Unrestricted | Restricted | Total | Total | |||
| funds | fund | funds | funds | |||
| £ | £ | £ | £ | |||
| Fixed assets | - | 16,135 | 16,135 | 21,514 | ||
| Current assets | 6,588 | 17,951 | 24,539 | 16,744 | ||
| Current liabilities | (1,785) | - | (1,785) | (1,200) | ||
| 4,803 | 34,086 | 38,889 | 37,058 | |||
| 11. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At 1/1/22 | in funds | 31/12/22 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| Unrestricted | 15,544 | (10,741) | 4,803 | |||
| Restricted funds | ||||||
| Restricted | 21,514 | 12,572 | 34,086 | |||
| TOTAL FUNDS | 37,058 | 1,831 | 38,889 | |||
| Net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| Unrestricted | 25,621 | (36,362) | (10,741) | |||
| Restricted funds | ||||||
| Restricted | 17,950 | (5,378) | 12,572 | |||
| TOTAL FUNDS | 43,571 | (41,740) | 1,831 |
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continued...
Wheeled Sports 4 Hereford Ltd
Notes to the Financial Statements - continued For The Year Ended 31st December 2022
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/1/21 | in funds | 31/12/21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted | 17,262 | (1,718) | 15,544 |
| Restricted funds | |||
| Restricted | 28,685 | (7,171) | 21,514 |
| TOTAL FUNDS | 45,947 | (8,889) | 37,058 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted | 24,923 | (26,641) | (1,718) |
| Restricted funds | |||
| Restricted | - | (7,171) | (7,171) |
| TOTAL FUNDS | 24,923 | (33,812) | (8,889) |
| A current year 12 months and prior year 12 months combined position is as | follows: | ||
| Net | |||
| movement | At | ||
| At 1/1/21 | in funds | 31/12/22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted | 17,262 | (12,459) | 4,803 |
| Restricted funds | |||
| Restricted | 28,685 | 5,401 | 34,086 |
| TOTAL FUNDS | 45,947 | (7,058) | 38,889 |
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continued...
Wheeled Sports 4 Hereford Ltd
Notes to the Financial Statements - continued For The Year Ended 31st December 2022
11. MOVEMENT IN FUNDS - continued
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 | |||
| Unrestricted | 50,544 | (63,003) | (12,459) |
| Restricted funds | |||
| Restricted | 17,950 | (12,549) | 5,401 |
| TOTAL FUNDS | 68,494 | (75,552) | (7,058) |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2022.
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Wheeled Sports 4 Hereford Ltd
| Detailed Statement of Financial Activities For The Year Ended 31st December 2022 INCOME AND ENDOWMENTS Other trading activities Equipment and canteen sales Donations Investment income Deposit account interest Charitable activities Grants Total incoming resources EXPENDITURE Other trading activities Opening stock Purchases Closing stock Charitable activities Wages Insurance Light and heat Telephone Repairs and maintenance Bank charges Advertising Training Sundry expenses Freehold property Plant and machinery Support costs Governance costs Accountancy fees Legal fees Total resources expended Net income/(expenditure) |
2022 £ 25,319 286 25,605 16 17,950 43,571 4,000 20,563 (5,000) 19,563 9,739 1,488 1,372 431 377 630 364 402 157 5,378 - 20,338 1,839 - 1,839 41,740 1,831 |
2021 £ 6,296 1,728 8,024 1 16,898 24,923 4,500 5,234 (4,000) 5,734 6,524 1,485 897 408 8,083 - 393 - 144 7,171 997 26,102 1,273 703 1,976 33,812 (8,889) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 12