**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:
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.
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
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (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|
Page 7
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|
|---|---|
Page 8
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|
Page 9
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|
Page 10
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.
Page 11
**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