REGISTERED COMPANY NUMBER: 06446869 (England and Wales) REGISTERED CHARITY NUMBER: 1124164 Report of the Trustees and Flnanclal Statements For The Year Ended 31st December 2023 for Vvheeled Sports 4 Hereford Ltd Baker Britt Chartered Accountants 63 High Street Chislehursl Kent BR7 5BE
Wheeled Sports 4 Hereford Ltd Contents of the Financial Statements For The Year Ended 31st December 2023 Page Report of the Trustees 1 to 2 Independent Examiner's Report Statemont of Financial Activities Balance Sheet Notes to the Flnanclal Ststements 6 to 11 Detsiled Ststement of Financial Activities 12
Wheeled Sports 4 Hereford Ltd Report of the Trustees For The Year Ended 31st Docembgr 2023 The Iruslees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial slalements of the charity for the year ended 31 st Dember 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The object of the Charity is to provide or assist in the provision of recreational facilib'es in or near Hereford for young people, with the object of improving their conditions of life, in parbcular to provide for such persons facilities for skateboarding, roller skating, cycling and similar activits'es. The Charity provides a safe, purpose-buill, 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 suitsble environment. This facility also provides a purposeful leisure activity for young people as a diversion from anti-social behaviour. The provision of the skate part provides a Centre of EXCelnCe for alternative sports in Hereford which specifically meets the needs of the young people praclising 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 The first half of the year was relatively normal in terms of income and expenditure, which, carrying on the trends of the previous years, was largely related to the day lo day running of the skateshop. Grant funds acquiod in previous years via the lottery Awards for All funding stream and Hef0rd City Council's Community Fund, were partially spent in the first half of the year on catering equipment for the planned community café and installing a water supply and drinking fountain. WS4H was also awarded a grant of £490,000 in Pf23 from ntral government via the Stronger Towns Fund for the expansion of the skatepark. In August 2023, the park and all facilities including the shop were closed to carry out this work. This grant funding was administered by Herefordshire County Council and paid incMentallY lo WS4H throughout the second half of the year and into FY24. For this ason, annual expenditure is significantly higher than average this year. The work was completed on time and normal day lo day operations of the skatepark and shop resumed in late January 2024. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and consb'tutes 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 numbor 1124164 Registered officg 63 High Street Chislehurst Kent BR7 5BE Page 1
Wheeled Sports 4 Hereford Ltd Report of the Trustees For The Year Ended 31st Docembgr 2023 Trustees M Hatter A B Murphy DABRouse B J Stephens (resigned 516120231 S R Stephens D J Grice J M Pilkington A J Johnson W R Newby C l Arthur C A Hamilton J Hoar J J Sutton KLee Independent Examiner Mr P E Britt FCA Baker Britt Chartered Accountants 63 High Street Chislehurst Kent BR7 5BE Approved by order of the board of trustees on 1 Oth July 2024 and signed on its behalf by.. C l Arthur- Trustee Page 2
Independent Examiner's Report to the Trustees of Wheeled Sports 4 Hereford Ltd Independent examinerfs report to the trustees of Wheeled Sports 4 Hereford Ltd I'the Company'l report to the charity Iruslees on my examination of the accounts of the Company for the year ended 31st DeMber2O23. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'i. Having satisfied myself that the accounts of the Company a not qUired 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 I'the 2011 Arfl. In carrying out my examination I have followed the D1ctionS given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examinerfs statement sin your charity's gross income exceeded £250,000 your examiner musl be a member of a listed body. I can confirm that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bles. I have completed my examination. I confimi that no matters have come lo my attention in connection with the examination gThiing me cause lo believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord with those records,. or 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 the accounts have not been prepared in aecordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. 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. MrPEBrittFCA The Institute of Chartered Accountants in England and Wales Baker Britt Chartered Accountants 63 High Street Chislehurst Kent BR7 58E 10th July 2024 Page 3
Wheeled Sports 4 Hereford Ltd Statement of Financial Activities For The Year Ended 31st Docember 2023 2023 Totsl Jnds 2022 Total funds Unrestricted funds Restricted fund Notes INCOME AND ENOOWMENTS FROM Charitable activities Genefftl 17,950 Stronger Towns Park Redevelopment 448,024 448,024 Other trading activities Investment Income 22,500 203 22,500 203 25,605 16 Total 22,703 448,024 470,727 43,571 EXPENDITURE ON Raising funds 11,020 11,020 19,563 Charitable activities General 7,977 12,994 11,499 20,971 11,499 20,338 Water fountain Cafe contsiner refurbishment 673 673 Other 1,839 Total 18,997 25,166 44,163 41,740 NET INCOME Transfers between funds 3,706 13,5491 422,858 3,549 426,564 1,831 Net movement in funds 157 426,407 426,564 1,831 RECONCILIATION OF FUNDS Total funds brought forward 4,803 34,086 38,889 37,058 TOTAL FUNDS CARRIED FORWARD 4,960 460.493 465,453 38,889 The notes fomi part of these financial statements Page 4
Wheeled Sports 4 Hereford Ltd Balance Sheet 31st December 2023 2023 2022 Notes FIXED ASSETS Tangible assets 451,165 16,135 CURRENT ASSETS Stocks Cash at bank 5,001 11,065 5,000 19,539 16,066 24,539 CREDrroRS Amounts falling due within one year 11,7781 11,7851 NET CURRENT ASSETS 14,288 22,754 TOTAL ASSETS LESS CURRENT LIABILITIES 465,453 38,889 NET ASSETS 465,453 38,889 FUNDS Unrestricted funds Reslricled funds 4,960 460,493 4,803 34,086 TOTAL FUNDS 465,453 38,889 The charitable Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the yearended 31st DeMber2O23. The members have not required the company lo obtain an audit of its financial statements for the year ended 31st Dember 2023 in accordan with Section 476 of the Companies Act 2006. The trustees a¢knOedge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the stale of affairs of the charitable company as at the end of each financial year and of ils sutplus or deficit for each financial year in accordan with the requirements of Sections 394 and 395 and which olhetwise comply with the requirements of the Companies Act 20[ relating lo financial statements, so far as applicable lo the charitable company. Ibl These finanaal slalements have been prepared in accordance with the provisions applicable to charitsble companies subject lo the small companies regime. The financial ststemenls were approved by the Board of Trustees and aulhorised for issue on 1 Oth July 2024 and were signed on ils behalf by.. C l Arthur- Trustee The notes fomi part of these financial statements Page 5
Wheeled Sports 4 Hereford Ltd Notes to the Financial Statements For The Year Ended 31st Docember 2023 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 accordan with the Charities SORP IFRS 1021 'Accounling and Reporting by Charib"es'. Statement of Recommended practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of loland IFRS 1021 leffeclive 1 January 20191,, Financial Reporting Standard 102 'The Financial Repott'ng Stsndard 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 15 re¢ognised in the Slalement of Financial Activities once the charity has entillemenl to the funds, it is probable that the income will be received and the amount can be measured lIablY. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, il 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 lo the tegOry. Vlfftere costs cannot be directly attributed lo particular headings they have been allocated to activities on a basis consislenl with the use of reSoUs. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its eslimaled useful life. Freehold propety Plant and machinery 20/0 on cost 25Q/o on cost Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowan for obsolete and slow nx)ving items. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds Can be used in accordan with the charitable objectives al the discretion of the trustees. Restricted fvnds Can only be used for parb"cular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for parbcular 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 Docember 2023 OTHER TRADING ACTIVITIES 2023 2022 Equipment and canteen sales Donations 16,920 5,580 25,319 286 22,500 25,605 INVESTMENT INCOME 2023 2022 Deposit account Interest 203 16 NET INCOMEIIEXPENDITUREI Net incomellexpenditurel is stated after chargingllcreditingl.. 2023 2022 Depreciation- owned assets 12,994 5,379 TRUSTEES. REMUNERATION AND BENEFITS The were no Iruslees, remuneration or other benefits for the year ended 31 sl December 2023 nor for the year ended 31st December 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31st Demer 2023 nor for the year ended 31 sl December 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestri¢led funds Restrided fund Total funds INCOME AND ENDOWMENTS FROM Charitable activities General 17,950 17,950 Other trading activities Investrnent income 25,605 16 25,605 16 Totsl 25,621 17,950 43,571 EXPENDITURE ON Raising funds 19,563 19,663 Charitable activities General 14,960 5,378 20,338 Other 1,839 1,839 Page 7 continued...
Wheeled Sports 4 Hereford Ltd Notes to the Financial Statements - continued For The Year Ended 31st Docembgr 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted ftjnds fund Total ftjnds Totsl 36,362 5,378 41,740 NET INCOMEIIEXPENDITUREI 110,7411 12,572 1,831 RECONCILIATION OF FUNDS Total funds brought forward 15,544 21,514 37,058 TOTAL FUNDS CARRIED FORWARD 4,803 34,086 38,889 TANGIBLE FIXED ASSETS Freehold propety Plant and machinery Totals COST Al 1 st January 2023 Additions 474,348 448,024 3,990 478,338 448,024 At 31st Dember2O23 922,372 3,990 926,362 DEPRECIATION Al 1 st January 2023 Charge for year 458,213 12,994 3,990 462,203 12,994 At 31st Dember2O23 471,207 3,990 475,197 NET BOOK VALUE At 31st Dember2O23 451,165 451,165 Al 31st OeMber2O22 16,135 16,135 STOCKS 2023 2022 Stocks 5,001 5,000 Page 8 continued...
Wheeled Sports 4 Hereford Ltd Notes to the Financial Statements - continued For The Year Ended 31st Docembgr 2023 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Social securty and other taxes Other creditors Accruals and deferred income 14381 416 1,800 13311 416 1,700 1,778 1,785 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2023 Total funds 2022 Total funds Unrestricted funds Restricted fund Fixed assets Current assets Current liabilities 451,165 9,328 451,165 16,066 11,7781 16,135 24.539 11,7851 6,738 11,7781 4,960 460,493 465,453 38,889 11. MOVEMENT IN FUNDS Net movement in funds Transfers beeen funds At 31112123 Al 111123 Unrestricted funds Unrestricted 4,803 3,706 13,5491 4,960 Restricted funds Restricted 34,086 422,858 3,549 460,493 TOTAL FUNDS 38,889 426,564 465,453 Net movement in funds, included in the above are as follows.. Incoming resources Resou$ expended Movement in funds Unrestrieted funds Unrestricted 22,703 118,9971 3,706 Restricted funds Restricted 448,024 125,1661 422,858 TOTAL FUNDS 470,727 144,1631 426,564 Page 9 continued...
Wheeled Sports 4 Hereford Ltd Notes to the Financial Statements - continued For The Year Ended 31st Docember 2023 11. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 31112122 At 111122 Unrestricted funds Unrestricted 15,544 110,7411 4,803 Restricted funds Restricted 21,514 12,572 34,086 TOTAL FUNDS 37,058 1,831 38,889 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds Unrestricted 25,621 136,3621 110,7411 Restricted funds Restricted 17,950 15,3781 12,572 TOTAL FUNDS 43,571 141,7401 1,831 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers beleen fvnds At 31112123 Al 111122 Unrestricted funds Unrestricted 15,544 17,0351 13,5491 4,960 Restricted funds Restricted 21,514 435,430 3,549 460,493 TOTAL FUNDS 37,058 428,395 465,453 Page 10 continued...
Wheeled Sports 4 Hereford Ltd Notes to the Financial Statements - continued For The Year Ended 31st Docember 2023 11. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above a as follows". Incoming resources Resources expended Movement in funds Unrestricted funds Unrestricted 48,324 155,3591 17,0351 Restricted funds Restricted 465,974 130,5441 435,430 TOTAL FUNDS 514,298 185,9031 428,395 12. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31st Dember 2023. Page 11
Wheeled Sports 4 Hereford Ltd Detsiled Statement of Financial Activities For The Year Ended 31st Docember 2023 2023 2022 INCOME AND ENDOWMENTS other trading activities Equipment and canteen sales Donations 16,920 5,580 25,319 286 22,500 25,605 Investment income Deposit account interest 203 16 Charitable activities Grants 448,024 17,950 Total incoming resources 470,727 43,571 EXPENDITURE Other trading activities Opening stock Purchases Closing stod( 5,000 11,020 15,0001 4,000 20,563 15,0001 11,020 19,563 Charltable actlvltles Wages Insurance Light and heat Telephone Repairs and maintenance Bank charges Advertising Training Sundry expenses Freehold property 243 1,679 2,048 481 12,874 445 180 207 104 12,994 9,739 1,488 1,372 431 377 630 364 402 157 5,378 31,255 20,338 Support costs Governance Costs Accountancy fees 1,888 1,839 Total resources expended 44,163 41,740 Net income 426,564 1,831 This page does not form part of the statutory financial slalements Page 12