The Yorebridge Sports Development Association Ltd Financial Statements Year Ended 31°, March 2024 Charity registration number: 1126795 Company registration number: 05493687
The Yorebridge Sports Development Association Ltd Financial Statements Year Ended 31st March 2024 Contents Page Charity Reference and Administrative Details Trustees, Annual Report Ilncluding Directors, Report) Independent Examiner's Report Statement of Financial Activities (including Income & Expenditure Account) Balance Sheet Notes to the Financial Statements 10-17
The Yorebridge Sports Development Association Ltd Trustees, Annual Report {Including Directors Report) Year Ended 31$t March 2024 Charity registration number 1126795 Company registratlon number 05493687 Trustee Directors Mr H A Kirkbride Mrs Y Peacock Mrs K E Civil Mrs R V Hurn Mrs S Stokes (resigned 161h July 2024) Mrs R Dechezeaux Mr P J Miller Mr G A Bladon (appointed 81h July 20241 Chairperson Mrs R V Hurn Secretary Mr G A Bladon Registered ottice The Wensleydale Centre Yorebridge Askrigg Leyburn North Yorkshire DL8 3BJ Independent examiners Yorkshire Dales Accountancy Kiln Place, Dryden House Market Place Hawes Norlli Yorkshire DL8 3RA
The Yorebridge Sports Development Association Ltd Trustees, Annual Report (Includlng D1CtorS Report) Year Ended 31st March 2024 The trustees present their report and the financial statements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities. in preparing the annual report and financial statements ofthe charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to Ihe accounts and comply with the charity's goveming document, the Charities Act 2011 and 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 published in October 2019 Trustses of the charity The directors of the charitable company are its trustees for the purposes of charity law. The trustees directors who have served during the year and since the year end were as follows: Mr H A Kirkbride Mrs Y Peacock Mrs K E Civil MrsR VHUM Mrs S Stokes (resigned 16th July 2024) Mrs R Dechezeaux Mr P J Miller Mr G A Bladon (appointed 81h July 2024) Objectives and actlvlties The principal objectives and operations of the charity are to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time, occupation of individuals who have need to such facilities by reason of their youth, age, infimiity or disability, financial hardship or Social circumstances with the objective of improving their conditions of life Public ben8frt statèment The trustees have had regard to the Charity Commission guidance on public benefrt. The charity provides gym facilities at The Wensleydale Centre, Askrigg and arranges associated activities. It is through the provision of these that the charity delivers a public benefit. Achlevemonts and performance We have now implemented an online ClubRight gym management system which has completely transformed the running and operation of the gym. It has proved to be a very efficient way of payment and membership management. This system will soon be linked to a new front door (May 2024) so access to the gym will be controlled electronically. We have again had an increase in gym membership, activity sessions and facility hire this year which has resulted in increased income. The MUGA has again been very popular this year for both group and individual hire and we have recently become affiliated to the Lawn Tennis Association.
The Yorebrldge Sports Development Association Ltd Trustees, Annual Report (Including Directors Report} Year Ended 31st March 2024 Financial review (Including reserves policy) Income from the gym has increased from £32,644 in 2023 to £40,163 in 2024, an increase of £7,519. The Trustees are continually reviewing the charity's reserves and cash flow requirements. The Trustees consider it appropriate to hold minimum reserves to cover at least three months overheads, which is equivalent to around £6,000. Plans for future periods We have a number of priorities for the next year.. ensuring financial clarity and stability., maximising the use of the ClubRight online system., installing a ramp to the front doorto improve access for all,. having a gym refresh and redecoration,. improving broadband and WIFI. We also plan to have an increased social media presence to attract new users to the gym and faciltties. Structuro, governance and management The charity is governed by its memorandum and articles of association, incorporated on 16 September 2008, in England & Wales and is a company Limited by Guarantee The charity and its propety is administered and managed by the Trustees. Where there is a requirement for an individual to be appointed as a Trustee, suitable people are identified by the existing Trustees and are then invited to take up the role. The Trustees are responsible for reviewing and identifying risks that the Charity faces to enable them to protect the assets of the charty. Trustees, responsibilities The Trustees 0 are also deCtorS of The Yorebridge Sports Development Association Ltd for the purposes of company law) are responsible for preparing the Trustees, Annual Report [(including the Strategic Report)] and Ihe financial statements in accordan wth applicable law and United Kingdom Accounting Standards (Untted ngdorn Generally Accepted Accounting Practi). Company law requi the trustees to prepare firtancial statements for each financial year. Under company law the twstees must not approve the financial statements unless they are satisfied that Ihey gtve a true and fair view of the state of affairs of the charitable cornpany and of the incoming resour5 and application of resources, including the income and expenditure, ofthe chatitable company forthat period. In preparing these financsal statements, the trustees are required to.. select suitable accounting policies and then apply them consislentty., observe the methods and prirKiples in the Chartbes SORP 2019 {FRS 102). makejudgements and estimales that are reasonable and prudent., stste thether applicable UK Accounting Standards have been followed; prepare the financial statements on the going cOnM basis unless it is inappropriate to presume that the thartiable company will continue in operation.
The Yorebridge Sports Development Association Ltd Trustees, Annual Report (Including Directors Report) Year Ended 31st March 2024 The trustees are responsible for keeping adequate accounting records Ihat disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them to ensure that the financial statements coniply wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the charilable company and hence for takiiig reasonable sleps for the prevention and detection of fraud and olher iriegularities. The Trustees consider that they have complied with the duty in Section 1715) of the 2011 Charities Act to have due regard to guidance issued on public benefit. This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exempiion. and in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities. On behalf ol the trustees Mrs R V Hurn. Trustee Director Chairperson Mr G A Blaclon, Secretary rustee Director Date: 61h December 2024
The Yorebridge Sports Development Associatlon Ltd Independent Examinefs Report to the Trustees of The Yorebridge Sports Development Association Ltd Year Ended 315t March 2024 I report to the chartty trustees on my examination of the accounts of the company for the year ended 3181 March 2024 which are set out on pages 4 to 17. Responsibilities and basis of report As the charity trustees ofthe company land also its directors for the purposes of company law) you are sponSible for the preparation of the accounts in accordan wth the requiremerts of the Companies Act 2006 (the 2006 ACY). Having satisfied mysewthat the accounts of the company are not required to be audited under Part16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Chartiies Act 2011 ('the 2011 Act,). In carying out ry examination I have followed the Directions given by the Charty Commission under section 145(5){b) ofthe 2011 Act. Independent examlnerS statement I have Mpleted my examination. I confimi that no matters have come to my attenlion in connection wth the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the company as required by section 386 ofthe 2006 Act., or 2. the aonts do not ac£ord those records., or 3. the accounts do not comply with the accountsng requirements of section 396 ofthe 2006 Act otherthan any requirement that the accounts gwe a and fair whtch is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in aOrdanCe with the methods and principles of the Statement of Recommended Practi for accounting and reporting by charities. I have no concerns and have come across no other matters in connectton with the examination to which attention should be drawn in this report in order trj enable a proper understanding of the accounts to be reached. Mr M A Fleming FCA ICAEW Yod(shires Dales Acwjntancy, Kiln Pla, Dryden House, Market Place, Hawes, North Yorkshire, DL8 3RA Date; 9th Dember 2024
The Yorebridge Sports Development Assoclatlon Ltd Statement of Flnancial Actlvlties (Includlng Income & expenditure Account) Year Ended 31st March 2024 2024 Unwlrided funds R•strided funds 2023 Total Total Income and endowments from: Donations & grants Charitable activities Other 315 40,163 399 4,000 4,315 40,163 399 2,254 32,644 1,504 Total income and ondowments 40,877 4,000 44,877 36,402 Expenditure on: Raising funds Charitable activities Administrative costs 32,053 18,229 13,579 45,632 18,229 39,954 16,015 Total 8xpendlture 50,282 13.579 63,861 55,969 Net income 1 (expenditure) (9,405) (9,579) (18,984) (19,567) Transfers between funds Other recognised galns l {losses}: Net movement in funds 17 (9,405) (9,579) (18,984) (19,567) Reconciliation of funds: Total funds brought fOard 17 71,370 50,906 122,276 141,843 Total funds carried forward 17 £61,965 £41,327 £103,292 £122,276 All income and expenditure items derive from continuing activities. The statement of financial activities includes all gains and1055es recognised during the year.
The Yorebridge Sports Development Association Ltd Balance Sheet Year Ended 31st March 2024 2024 2023 Not Fixed assets Tangible assets 32.106 43,016 32,106 43,016 Current assets Stocks Debtors Cash at bank and in hand 12 13 500 3,077 71,981 565 2,417 79,797 75,558 82,779 Liabilltles Credltors: amounts falling due within one year 14 {4,372} 13.5191 Net current assets 71,186 79,260 Total assets less current liabilities 103,292 122,276 Provlslons & Credltors due after one year Net assets £103,292 £122,276 Charity Funds Restricted funds Unrestricted funds 41,327 61,965 50,906 71,370 17 Total charlty funds l (deficit) £103,292 2122,276 Sn preparing ihese financial statements.. al For the financial year ended 31 $1 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relaling small companies-, and bl The members have not required Ihe company to obtain an audil of its financial statements for the year in queslion in accordance with section 476 of the Companies Act 2006., and c) The directors acknowledge their responsibiliiy for complying with the requirements of the Companies Acl 2006 with respect to the accounling records and Ihe preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small company regime. The financial statements were approved and authorised for issue by the Board on 61h December 2024. Signed on behall of the board of truslees: Mrs R V Hurn, Trustee Chairperson MrGA Secretary Truste irector The notes on pages 1010 17 form part of these financial statements. Company registration number: 05493687
The Yorebrfdge Sports Development Assoclatlon Ltd Notes to the Flnancial Ststements Year Ended 31st March 2024 1 Summary of signiflcant accounting policies (a) G8neral informatlon and basis of preparation The Yorebridge Sports Development Association Ltd is a Charitable Company registered in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 3 of these financial statements. The nature of the charity's operations and principal activities are to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time, occupation of individuals who have need to such facilities by reason of their youth, age, infirmity or disabilty, financial hardship or social circumstances with the objective of improving their conditions of life The charity constitutes a public benefft entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Chaflties- Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in Qclober 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concem basis under the histori¢al Cost convention, modified to include certain items at fair value. The fsnancial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless Otherwse stated. {b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the chartty and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for partiGular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. (c) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity IS legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of perfomian¢e before entitlement Can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they be fulfilled. No amount is included in the financial statements for volunteer time in line wrth the SORP. 10
The Yorebridge Sports Development Association Ltd Notes to the Financial Statements Year Ended 31st March 2024 Income from charitable activities includes income earned from gym and recreational activities. Income from government and other grants are recognised at fair value when the charity has entitlement after any perfomiance Gonditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entidement is not met then these amounts are deferred. Investment income is eamed through holding assets for investment purposes such as shares and propety. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme w5th reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity's right to receive payment is established. other income includes sundry items which do not fall into the above categories of income. Id) Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all Gosts related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is calegorised under the following headings: Costs of raising funds- Expenditure on charitsble activities; and Other expenditure represents those items not falling into the categories above. (e) Tanglble fixed assets Tangible fixed assets are stated at cost (or deemed cost} or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tsngible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows.. Over the remaining temi of the lease 25°A reducing balance 25 % reducing balance Leasehold land and buildings Plant and machinery Fixtures and fittings (fj Stocks stocks are stated at the lower of cost and net realisable value. Ig) Debtors and croditors recelvable I payable withln one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. {h) Provislons Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an oufflow of economic benefits will be required in settlement and the amount can be reliably estimated. 11
The Yorebridge Sports Development Assoclation Ltd Notes to the Financial Statements Year Ended 31st March 2024 (i) Loases Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease tèrm and the expected useful life ofthe asset. Minimum lease payments are apportioned bemeen thefinance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of fvture finance charges, are included in creditors. Rentals payable and receivable under operating leases are charged to the SOFA on a straight line basis over the period of the lease. li) Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. {k) Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainlies exist. The trustees have considered the level offunds held and the expected level of income and expenditure for 12 months from authorising these financial ststements. The budgeted income and expenditure is sufficient with the level of reserves for the charty to be able to continue as a going concern. Income from donations & grants 2024 2023 Grants Donations Fundraising 4,000 177 138 2,073 162 19 £4,315 £2,254 Income from donations was £177 (2023 - £162) all of which was attributable to unrestricted ftjnds. Grant income received this year was £4000 from the Yorkshire Dales Millenium Trust, forthe purchase of gym equipment and the delivery of wellness classes, gym inductions and soft play sessions for families. Income from charitable activities 2024 2023 Gym membership Activity sessions Facility hire 26,589 5,977 7,597 21,852 4,752 6,040 £40,163 £32,644 Income from charitable activities was attributable to unrestricted funds. 12
The Yorebridge Sports Development Assoclation Ltd Notss to the Flnancial Ststements Year Ended 318t March 2024 Other income 2024 2023 Other Deferred income released 399 304 1,200 £399 £1,504 Other income was all attributable to unrestricted fijnds. Costs of charitable activities note Unrestricted Restricted 2024 2023 Wages & salaries Coaching & tutor costs Training Costs Rent & rates Light & heat Repairs Insurance Bank charges Depreciation Profit on disposal (10) 13,521 1,065 1,299 936 4,322 5,774 1,204 134 3,798 2,882 16,403 1,065 1,299 936 4,322 5.774 1,204 12,909 865 760 610 2,757 6,414 1,133 59 14,436 10,697 14,495 32,053 13,579 45,632 39,954 Administrative costs Unrestricted Restricted 2024 2023 Office equipment hire Printing, postage & stationery Advertising Communication & engagement Phone & broadband Bookkeeping & administration Accountancy Consultancy Legal & professional Sundry Subscriptions 128 206 145 128 206 145 158 126 548 14,898 1,119 548 14,898 1,119 486 13,355 1,008 57 1,128 18,229 57 1,128 18,229 49 833 16,015 7 Net income l (expendlture) for the year Net income l (expenditure) is stated after charging.. 2024 2023 Depreciation of tangible fixed assets 13
The Yorebridge Sports Development Association Ltd Notes to the Financial Statements Year Ended 31st March 2024 Independent examiners remuneratlon The accountancy charges amount to an independent examination fee of £535 (2023: £520) and other services including payroll and accounts preparation of £584 (2023.. £488). Trustees, and key manag8m&nt P8rsonnel remuneration and expenses The trustees neither received nor waived any remuneration during the year (2023.. £Nil) for their role as a trustee, the dLJties of which are carried out on a voluntary basis. The trustees did not have any expenses reimbursed during the year (2023.. Nil). One trustee, Mrs K E Civil works as an instructor on an employee basis, and for this receives a salary. Gross pay during the year amounted to £13,085 (2023.. £11,518). 10 Staff costs and employee benefits The charity employed three part time members of staff. There were no employees who received total employee benefits of more than £60,000. The total staff costs and employee benefits were as follows.. 2024 2023 Wages and salaries Social security Defined contribution pension costs (auto enrolment) 16,138 60 205 12,729 21 159 £16,403 £12,909 11 Tangible fixed assets LoAMhdd Land and Plant and twildr¥J8 machin¢ry Total Cost or valuation.. At 1 st April 2023 Additions Disposals At 3151 March 2024 212,527 35,489 3,585 248,016 3,585 212,527 39,074 251,601 Depre¢iation-. At 151 April 2023 Charge for the year Impairment Eliminated on disposals At 31st March 2024 179,990 11,053 25,010 3.442 205,000 14,495 191,043 28,452 219,495 Net book value: At 31 March 2024 £21,484 £10,622 £32,106 At 31¥t March 2023 £32,537 £10,479 £43,016 14
The Yorebrfdge Sports Development Association Ltd Notes to the Flnancial Statements Year Ended 319t March 2024 12 Stocks 2024 2023 Heating Oil Gym consumables Other 400 75 25 £500 500 50 15 £565 13 D8btors 2024 2023 Trade debtors Prepayments and accrued income 1,348 1,729 1,246 1,171 £3,077 £2,417 14 Creditors: amounts falling due withln one yoar 2024 2023 Bank loans and overdrafts Trade Creditors Payments on account PAYE and social security Accruals Deferred income 1,153 1,840 169 2,129 1,379 1,221 £4,372 £3,519 15 Leases a) Equipment leases The charity has a photocopier on lease until November 2027: 15
The Yorebrldge Sports Development Association Ltd Notes to the Financlal Statements Year Ended 31st March 2024 15 Leases continued Total future minimum equipment lease payments due are as follows.. 2024 2023 Not later than one year Later than one and not later than five years 544 1,497 £2,041 b) Property lease The charity operates from property which is subject to a full repairing lease. The charity pays a peppercom rent of £20 per year. The existing lease expires on 301h June 2027. 16 Fund reconciliatlon Unrestricted funds Balance at 2023 Gains I (losses) Balance at 2024 Income Expenditure Transfers Unrestricted £71,370 £40,877 £50,282 £61,985 18 Funds reconciliation continued Restricted funds Balance at 2023 Gains I (losses) Balance at 2024 Income Expenditure Transfers MUGA fund Equipment fund 44,302 6,604 9,532 4,047 34,770 6,557 4,000 £50,906 £13 579 £41327 16
The Yorebridge Sports Development Association Ltd Notes to the Financlal Statements Year Ended 318t March 2024 Fund descriptions a) Unrestricted funds Unrestrioted funds are available for use at the discretion ofthe trustees in furtherance ofthe general objectives of the charity and which have not been designated for other purposes. b) Restricted funds Reslricted MUGA fund The restricted MUGA fund relates the initial build and development of the MUGA. The grant is being released over the term of the lease. Restricted Equipment fund The restricted Equipment fund represents grants received for gym equipment which is being released over the life of the asset or when grant conditions are met, depending on the circumstances of each grant. 18 Related party transactions There are no related party transactions during the period {2023- £ nil). 17