Report & Consolidated Financial Statements
For the year ended 31 March 2024
Great Britain Wheelchair Rugby Limited
(limited by guarantee)
Company number: 06108379 (England and Wales) Charity number: 1130038
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
| CONTENTS | Page |
|---|---|
| Statutory information | 3 |
| Chief Executive’s Review | 4-5 |
| Trustees’ report (including Directors’ report and Governance statement) | 6-13 |
| Independent auditor’s report to the members of Great Britain Wheelchair Rugby | |
| Limited | 14-17 |
| Consolidated statement of financial activities | 18 |
| Consolidated balance sheet | 19 |
| Charity balance sheet | 20 |
| Consolidated statement of cash flows | 21 |
| Notes to the consolidated financial statements | 22-35 |
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
STATUTORY INFORMATION
COMPANY REGISTRATION NUMBER 06108379 REGISTERED CHARITY NUMBER 1130038 DIRECTORS AND TRUSTEES E W Warner OBE (Chair) A Barrow K E Clayton – retired 27 September 2023 C J Conway P Dunn MBE N J Dunne – appointed 7 December 2023 N J Fortescue – appointed 1 October 2024 S A Niblock S T Seddon M S Sehmi M T Daunt – retired 19 September 2024 CHIEF EXECUTIVE J Brisbane REGISTERED OFFICE AND PRINCIPAL PLACE OF Rugby House BUSINESS Twickenham Stadium 200 Whitton Road Twickenham Middlesex TW2 7BA INDEPENDENT AUDITOR UHY Hacker Young LLP 14 Park Row Nottingham NG1 6GR BANKERS National Westminster Bank plc City of London Office PO Box 12258 1 Princes Street London EC2R 8BP SOLICITORS Hogan Lovells International LLP Atlantic House Holborn Viaduct London EC1A 2FG
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CHIEF EXECUTIVE’S REVIEW
Overview
This past year has been a transformative period for Great Britain Wheelchair Rugby (GBWR), marked by a series of significant achievements both on and off the court. Our efforts have focused on advancing the sport’s competitive level, increasing community engagement, and ensuring sustainable growth through strategic partnerships and initiatives. The following report outlines key areas of progress and highlights the milestones achieved between April 2023 and March 2024.
Elite performance and competitions
GBWR continues to build on the success of previous years, particularly following our historic gold medal at the Tokyo 2020 Paralympic Games. Over the past year, we have worked tirelessly to maintain our position as one of the leading nations in the sport, whilst also preparing for upcoming international tournaments.
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International tournaments: GBWR hosted the 2023 European Championship at the Principality Stadium in Cardiff, Wales. The was a huge moment for the nation and thanks to strong partnerships with the WRU and Welsh Government we achieved our goal of delivering the “Best European Championship ever”. We won a silver medal and secured our spot in the Paris 2024 Paralympic Games. The team’s performance was a testament to the hard work and dedication of both the athletes and the support staff
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Talent development: Our investment in the next generation of athletes has been a key focus. We’ve expanded our talent identification and development programmes, ensuring that we maintain a strong pipeline of future stars.
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GB team preparations for Paris 2024: Throughout the year, our focus has been on building towards the Paralympic Games in Paris. Comprehensive training camps, tactical improvements, and building a new identity as a team has created much excitement within the squad.
Domestic leagues and club development
Our domestic wheelchair rugby scene has continued to thrive, with growth in participation and competitiveness across all levels.
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Domestic leagues: The GBWR National League saw an increase in the number of participating teams, with clubs from all regions demonstrating remarkable growth in skill and cohesion. The introduction of a new Division 3 provided additional opportunities for emerging teams, fostering greater inclusivity and competitive balance. The WR5s League has a similarly strong outlook with four divisions competing in the 2023 league. Whilst introduced in the previous financial year, there was insufficient interest to repeat the 3v3 League in 2023/24, however we will investigate competition opportunities for this discipline of wheelchair rugby in future years.
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Growth in participation: Participation has increased 32% this year, which is testament to the work our club development managers have been doing with their clubs. There has been a focus on ensuring all clubs have a strong digital presence so that they can be found by potential new members.
Strategic partnerships and sponsorships
Securing long-term financial sustainability remains a critical priority for GBWR, and this year has seen encouraging developments in our sponsorship and partnership efforts.
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Corporate partnerships: We have continued to nurture and expand our corporate partnerships, resulting in substantial financial backing that supports both our elite teams and grassroots programmes. Notably, the launch of our 28 for 28 fundraising initiative is gaining traction and we are confident we will be able to use this initiative to drive the transformation of the sport.
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Additionally, we signed a three-year partnership with mobility vehicle manufacturer Allied Mobility to be our title sponsor for our league competition. The synergies between our target audiences made
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CHIEF EXECUTIVE’S REVIEW continued
for an authentic partnership and we look forward to using the partnership to grow participation across all of our leagues and clubs.
- Media and broadcasting: The 2023 European Championship was streamed live on Channel 4 Sport YouTube with the final two days of competition shown live on Channel 4 broadcast TV. The tournament attracted more than 250k viewers across the weekend which is unheard of outside of the Paralympics.
Governance and organisational development
GBWR is committed to maintaining the highest standards of governance, transparency, and sustainability. Over the past year, we have made several strategic improvements to strengthen our organisational foundation.
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Board and leadership development: Our board of trustees and executive team have undergone professional development and governance reviews to ensure we are operating efficiently and in line with best practices.
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Sustainability initiatives: Environmental sustainability is an increasingly important part of our strategy. We are developing a new sustainability plan in line with UK Sport’s environmental guidelines, aimed at reducing our carbon footprint and making our operations more eco-friendly.
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Equality, diversity, and inclusion: Creating a wheelchair rugby community which is fully inclusive is central to our values, and this year we launched our diversity and inclusion action plan. Throughout the coming year we will form a working group which will be tasked with implementing the plan to create a more diverse sport.
Financial performance
From a financial perspective, GBWR remains in a stable position despite the economic challenges faced globally. Prudent financial management has enabled us to balance our investment in elite performance, grassroots growth, and operational needs.
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Hosting the 2023 European Championship: This became challenging with costs rising and challenges with securing sufficient commercial income; as a result, staging the championship generated a loss of £98k on a consolidated basis.
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Revenue and sponsorship growth: We saw an increase in revenue from sponsorships, donations, and fundraising events, helping to offset rising costs in some areas of our operations. This growth is a testament to our efforts and the appeal of wheelchair rugby as a dynamic and inclusive sport.
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The reserves position on a consolidated basis at year-end was £212k which meets our reserves target.
Conclusion and outlook for 2024/25
The past year has been one of progress, achievement, and resilience for GBWR. Our athletes, staff, volunteers, and supporters have demonstrated remarkable dedication to the growth of wheelchair rugby, both on and off the court. As we look forward to the Paris 2024 Paralympic Games and beyond, we remain committed to building on this momentum and ensuring that our sport continues to inspire, engage, and evolve.
With strong foundations in place, GBWR is well-positioned to continue our mission of making wheelchair rugby accessible to all and cementing our place as a world leader in the sport.
Jason Brisbane Chief Executive
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GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT AND GOVERNANCE STATEMENT)
TRUSTEE STATEMENT
The Trustees, who are also the directors for the purposes of Company Law, present their report and the audited consolidated financial statements of Great Britain Wheelchair Rugby Limited (‘GBWR’) for the year ended 31st March 2024.
Group net deficit for the year was £95,843 (2023: £13,736). Net surplus of £35,413 (2023: £26,034 deficit) arose in the subsidiary undertaking. Total public sector grant funding provided to the group during the year was £1,328,095 (2023: £1,518,900) of which Sport England contributed £521,000 (2023: £627,219) and UK Sport contributed £807,095 (2023: £891,681).
A full review of the year’s performance and achievements is given in the Chief Executive’s Review.
Information regarding the company registration number, the registered charity number, the trustees at the date of this report and the registered office and principal place of business is given at the beginning of this document.
Purposes and activities
The purpose of GBWR is the relief of disabled people by the promotion of wheelchair rugby in Great Britain. To discharge these objects, GBWR:
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provides accessible opportunities for individuals to play, coach, manage, and officiate wheelchair rugby;
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provides opportunities for players and officials to represent Great Britain at international competitions and tournaments; and
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represents the interests of wheelchair rugby to partners and stakeholders, and is a key influencer in the development of national and international policy relating to wheelchair rugby, Paralympic, and disabled sport.
Powers
To further its purposes GBWR uses the powers conferred in its Articles of Association to:
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undertake programmes of recruitment to the sport of players, officials, and volunteers;
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provide grants to assist club development;
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provide opportunities for competitive events;
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provide and assist in the provision of materials, equipment, and personnel support to clubs and individuals; and
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organise and assist in the provision of conferences, courses of instruction, and education.
Future plans
The immediate future plans of GBWR are set out clearly in the annual business plan for 2024/25 and are referenced in the Chief Executive’s Review. Strategic planning to the Paris 2024 Paralympic Games is referenced in GBWR’s 2022 mission, vision, and strategy document ‘Moving Forward Together’ and further planning by the Board of Trustees continues for the Paralympic cycle which follows to the LA28 Paralympic Games.
In shaping the objectives for the year, the Trustees have read the guidance on public benefit in the Charities Act 2011.
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The Trustees are confident that the group’s current and planned programme of work are fully consistent with its obligations for delivering public benefit. The charity’s purposes are consistent with the Equality Act 2010.
The trading activity of GBWR’s trading subsidiary (GBWR Trading Limited) was transferred to the parent company on 1 July 2024. The assets and liabilities were transferred subsequently and as such, the company ceased to trade.
Structure, governance, and management
Governing document
GBWR is a company limited by guarantee, governed by its Articles of Association (‘Articles’). The Articles were most recently modified by Special Resolution at the reconvened AGM held on 21 September 2022. It is registered as a charity with the Charity Commission for England and Wales. There are currently 702 members, each of whom agrees to contribute £1 in the event of the charity winding up.
The statutory governance framework is provided by the Companies Act, the Charities Act and the Statement of Recommended Practice: Accounting and Reporting by Charities. The primary non-statutory governance code is the Code for Sports Governance with which the company is fully compliant. The company is directed by the Board of Trustees.
In addition to the information given in this report, further information regarding:
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the company’s mission, vision, and strategy;
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the company’s values;
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the policies adopted by the company (including safeguarding, equality and diversity, and anti-doping);
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terms of reference of the Board of Trustees, Governance and Finance Committee, and Nominations Committee;
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biographical details of members of the Board of Trustees;
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minutes of meetings of the Board of Trustees and Governance and Finance Committee; and
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elections regulations for elected directors.
can be found on the company’s website at https://gbwr.org.uk.
Trustees
The Board of Trustees comprises: the Chair, appointed by the Board; up to seven Trustees elected by the charity's voting members in General Meeting; and up to six independent non-executive Trustees, appointed by the Board. The Board of Trustees may co-opt up to two further Trustees to bring particular skills and experience to the Board. The composition of the Board may include, at the sole discretion of the Board, a member of the senior leadership team of the organisation (eg the CEO), and this member may be appointed in an ex officio capacity only. The number of Trustees shall be not less than 6 and be subject to a maximum of 12.
Trustees each serve for a term of three years, and are eligible for reappointment or re-election, as the case may be, for up to two further three-year terms. In exceptional circumstances (for example to assist succession planning), a chair or director may hold office for a further year. A director appointed in an ex officio capacity may serve on the Board for the duration of their holding the relevant office.
The Board uses reasonable endeavours to ensure that: at least 30% of the Trustees are women; at least 30% of the trustees are men; at least 25% of the Trustees are independent; and at least 2 of the Elected Trustees are past or present participants in the sport.
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Remuneration and interests
No trustee received remuneration or other benefit as a result of their work for the charity. One trustee started part-time employment with the charity on 7 May 2024, in financial year 2024/25.
Trustees make an annual declaration of their business or other interests which might result in a conflict of interest with their role as a trustee, or a connection with a related party. Similar declarations are made at each meeting of the Board of Trustees and of the Governance and Finance Committee. No conflicts of interest or connections with a related party impacting on a Trustee’s independence were reported in the year to 31 March 2024.
Board appointments and retirements, and CEO recruitment
N J Dunne was appointed to the board, by the GBWR Board of Trustees, on 7 December 2023.
N J Fortescue was appointed to the board, by the GBWR Board of Trustees, on 1 October 2024, in financial year 2024/25.
E W Warner, C J Conway, P Dunn, and S T Seddon were each re-appointed to the board, by the GBWR Board of Trustees, for second terms of office on 7 December 2023.
K E Clayton retired from the board on 27 September 2023.
M T Daunt retired from the board on 19 September 2024, in financial year 2024/25.
Committees reporting to the Board of Trustees
Governance and Finance Committee
The company has established a Governance and Finance Committee (‘GFC’), whose Trustee membership comprises C J Conway (GFC Chair) and E W Warner. M A Moore and P A Freeman are non-trustee members; P A Freeman joined in September 2020 and M A Moore joined in a non-trustee capacity in September 2022 following membership as a trustee preceding retirement from the board in September 2022. J G Brisbane is an ex officio member in his position as CEO.
The GFC's principal responsibilities are to:
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ensure that the legal and regulatory principles of financial reporting and internal control are adequately applied;
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monitor the preparation of annual budgets and the reporting of results against budgets;
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identify and manage risks to the company’s business (see ‘risk management’);
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ensure that the terms and conditions of award of any sports council's grant funding and of official recognition of the company as a national governing body by the sports councils are properly observed; and
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monitor changes to legislation and regulation and ensure compliance with good corporate governance practice, including the regular review of the company’s accounting and reserves policies.
Other committees
A Nominations Committee to manage the recruitment of new trustees and senior management and a Remuneration Committee to review the remuneration and other benefits payable to senior employees are convened on an ad hoc basis as required.
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The Board of Trustees met on five occasions during the financial year, excluding an additional strategy day. The GFC met on four occasions during the financial year. All policy decisions relating to the operation of the charity are made by the Trustees and determined by majority vote.
The attendance record of individual Trustees at Board of Trustees and GFC meetings during the year was as follows:
| Board of Trustees | Governance and Finance Committee | |
|---|---|---|
| A J Barrow | 5 | N/A |
| K E Clayton * | 2 | N/A |
| C J Conway | 5 | 4 |
| M T Daunt | 4 | N/A |
| P Dunn MBE + | 2 | N/A |
| N J Dunne # | 1 | N/A |
| N J Fortescue – | N/A | N/A |
| S A Niblock | 4 | N/A |
| S T Seddon | 4 | N/A |
| M S Sehmi | 5 | N/A |
| E W Warner OBE | 5 | 4 |
(*) retired from the board 27 September 2023
(#) appointed to the board 7 December 2023
(+) attendance at one meeting was prevented owing to technical issues which could not be resolved at the time (–) appointed to the board 1 October 2024 in financial year 2024/25; accordingly, there is no record of meeting attendance in financial year 2023/24
Operational management
Day-to-day management of the charity has been delegated to the Chief Executive Officer, J G Brisbane.
The operations of GBWR are facilitated through the Senior Leadership Team (which comprises the senior salaried staff of the company) and delegated working groups and committees.
Key management personnel
In addition to the Trustees, the other key management personnel of GBWR (its senior leadership team) are:
| Chief Executive Officer | J G Brisbane |
|---|---|
| Head of Performance Support and Science | B S Mason |
| National Development Director | L K Templeton |
| Head of Business Operations | D M Hook |
Key management personnel remuneration is set by reference to current market levels for similar positions in comparable businesses. Guidance is also sought from a number of external reference sources, including UK Sport and Sport England.
Fundraising
As part of its commitment to best practice, the company has registered with the Fundraising Regulator, the independent regulator of charitable fundraising.
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Where fundraising activities were undertaken for the benefit of the company, appropriate measures were taken to ensure that these activities were compliant with the requirements of the Code of Fundraising Practice. No inconsistencies have been noted or brought to the company’s attention.
During the year, the subsidiary undertaking, whose profits (if any) are donated to the parent company by Gift Aid, engaged the services of an independent third party for the provision of sponsorship brokerage. This third party is regarded as a commercial participator as defined in the Code of Fundraising Practice. The remuneration of this participator was benchmarked against other similar entities operating in this sector and found to be competitive.
Neither the company nor the subsidiary undertaking have received any complaints about their own fundraising activities or those of any person or entity acting for their benefit. In particular, no complaints have been received about any failure to comply with the requirement to protect vulnerable people and other members of the public from behaviour which is an unreasonable intrusion on a person’s privacy, is unreasonably persistent or places undue pressure on a person to give money or other property. No targeted approaches for funding were made to any specific individuals or groups of individuals.
In-kind donations policy
GBWR, in accordance with the Charities Statement of Recommended Practice, presents the value of all inkind donations in its statement of financial activities; these in-kind donations may encompass goods and/or services. In-kind donations will be recognised at their fair value at the point of donation, where valuation is practicable and not disproportionate to the benefit received; where applicable, GBWR will seek valuation from the provider of the in-kind donation or otherwise benchmark against industry standards.
In the year ended 31 March 2024, GBWR received £59,038 (2023: £54,670) of in-kind donations, comprising of services from Hogan Lovells (legal advice and office space), the RFU (payroll and financial services and office space) and RMA Sport (provision of a mechanic for the GB team). These in-kind donations are presented as voluntary income in note 7 of these accounts.
Reserves policy
A key element in the management of financial risk is the setting of an appropriate reserves policy and its periodic review by Trustees. Reserves are required to manage timing differences between spending and receiving income, to fund existing or new activities for which funding cannot be found from external sources and to try to cover unexpected withdrawal or reduction of income streams. Reserves levels are adjusted as perceptions of risk and other factors change. In this Paralympic cycle towards Paris 2024, with Sport England and UK Sport Funding secured, our target range is £200,000 to £400,000. Our free available reserves at the end of the year were £202,063 (2023: £298,848).
Risk management and controls
GBWR has agreed a Risk Management Policy to ensure that effective processes are in place to track and report on existing and emerging risks. The objective is to support better decision making and management of risk through a comprehensive understanding of risks and their likely impact.
Our Board of Trustees is responsible for risk management and internal controls. Our Chief Executive Officer and our Senior Leadership Team are responsible for identifying and reviewing the risks to GBWR and reporting these to the GFC and the Board in the form of a Risk Register detailing the top risks. By their very nature Risk Registers are ‘living documents’ and are continually edited and updated. Controls and actions are put in place to mitigate these identified risks as far as is possible and practical, consisting of processes built around the Risk Registers, external professional advice and insurance where appropriate.
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Principal risks and uncertainties
The principal risks and uncertainties which the Board of Trustees monitored during the year are summarised below:
Key staff become overloaded
This continues to be a risk area due to the small size of the company, where it is inherent that small changes (eg to personnel leaving the company or increased requirements from stakeholders) can have a significant impact on staff workload. GBWR has sought to mitigate this through:
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annual salary increases benchmarked for the industry, to maintain engagement;
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recruitment of a digital marketing intern to support media functions; and
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implementation of a succession planning document to identify recruitment needs
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introduction of quarterly self-care days available to all staff which are separate from employees’ annual leave allocations
Fail to maintain GB team’s top-five world ranking
Whilst in 2022 GB achieved its first-ever second-place world ranking, the change of athletes and competition from other nations necessitates this be considered an ongoing risk; to mitigate, this, GBWR:
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is implementing coach and athlete development plans and performance reviews;
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will review performance needs, including the training camp and competition schedule, following the Paris 2024 Paralympic Games;
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has launched the coaching pathway to identify and develop future coaching talent; and
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is improving integration of the talent and GB squads.
Income is insufficient to deliver against the annual business plan and meet strategic objectives
To manage the increased pressure to secure commercial and/or philanthropic funding to support stakeholder cofounding requirements and to deliver additional commercial activities, GBWR:
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has appointed, in financial year 2024/25, a partnerships lead to manage existing, and secure new partnerships;
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launched a new fundraising initiative, ‘28 for 28’, in December 2023, aiming to recruit a group of 28 partners whose collective resource will drive the transformation of the sport on the road to the LA 2028 Paralympic Games;
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has continued work to identify additional partners and maintain existing partners; and
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will maintain close in-year financial controls and take mitigating actions as required.
Significant club/member issue(s) including safeguarding concerns
GBWR identifies this risk as low but recognises the significant impact which could arise; in anticipation, GBWR:
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has restructured its development team to better support clubs and members;
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has brought up to date all safeguarding polices;
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Introduced a new club membership model to ensure clubs have appropriate policies and personnel;
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will provide sufficient training opportunities to ensure appropriate training for board, staff, and club welfare officers;
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has appointed a board-level lead for safeguarding; and
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has developed its safeguarding provision through a partnership opportunity with the Rugby Football Union.
Fail to develop sufficient coaches and officials
To help identify and develop coaches and officials, GBWR:
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has started a comprehensive coaching review with Sporting People, which aims to understand the coaching landscape and support the development of a new suite of qualifications ready for late 2024 and
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is investigating opportunities for officials to gain experience at overseas competition.
Investment policy
It is the policy of GBWR to place its investments in cash deposits which provide appropriate liquidity and which are deemed to be of low risk.
Governance framework
The company is committed to compliance with the Code for Sports Governance, the Code of Fundraising Practice and Charity Commission guidance.
Confirmation of ongoing compliance
The company has communicated openly with UK Sport and Sport England throughout the year and the Board of Trustees considers that GBWR has maintained its status of compliance with the Code for Sports Governance. The sports councils worked with national governing bodies to support compliance against recent updates to the Code for Sports Governance; GBWR received confirmation that it has met all requirements in April 2024.
Complaints/whistleblowing
In the year to 31 March 2024 there were no complaints to the company.
Equality, diversity, and inclusion
The company is fully committed to the principles of equality of opportunity and to creating a diverse environment. In particular, the company is committed to increasing the diversity of staff, volunteers (including Board and committee members), participants, and coaches and will carry out initiatives to do so. GBWR has developed a diversity action plan, approved by the board March 2024, which sets out GBWR’s primary objectives.
The Board uses reasonable endeavours to ensure that: at least 30% of the Trustees are women; at least 30% of the trustees are men; at least 25% of the Trustees are independent; and at least 2 of the Elected Trustees are past or present participants in the sport.
Auditor
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UHY Hacker Young LLP was re-appointed as auditor to the company, in accordance with the provisions of the Charities Act 2011 and the Companies Act 2006. In accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting. UHY Hacker Young LLP has held the position of GBWR’s auditor since a tender process for the 2021/22 audit.
Statement of Trustees’ responsibilities in respect of the financial statements
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and the group and of the income and expenditure of the group, for that period. In preparing those financial statements, Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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sake judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation;
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observe the methods and principles of the Charities Statement of Recommended Practice; and
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006 and UK Accounting Standards. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the company website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Each of the Trustees at the date of approval of this report confirms that:
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so far as the Trustees are aware, there is no relevant audit information of which the company’s auditor is unaware; and
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the Trustees have taken all the steps that they ought to have taken as trustees to make themselves aware of any relevant audit information and to establish that the company’s auditor is aware of that information.
On behalf of the Board
E W Warner OBE Trustee 4 December 2024
C J Conway Trustee 4 December 2024
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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
Opinion
We have audited the financial statements of Great Britain Wheelchair Rugby Limited (‘the parent charity’) and its subsidiary (‘the group’) for the year ended 31 March 2024 which comprises the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, Charity Balance Sheet, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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1 give a true and fair view of the state of the group’s and the parent charity’s affairs as at 31 March 2024 and of the group’s income and expenditure for the year then ended;
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2 have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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3 have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or the parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Report of the Trustees, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we
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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF GREAT BRITAIN WHEELCHAIR RUGBY LIMITED (continued)
identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Report of the Trustees which includes the Directors’ Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Directors’ Report included within the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report included within the Report of the Trustees.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the trustees’ responsibilities statement set out on page 13, the trustees (who are also the directors of the parent charity for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise
15
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF GREAT BRITAIN WHEELCHAIR RUGBY LIMITED (continued)
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charity and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the charity, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as FRS 102, Charities SORP (FRS 102), Companies Act 2006, the Charities Act 2011, the parent charity’s governing document and tax legislation.
We evaluated the trustees’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to the allocation of funds and grant income recognition.
Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:
-
Discussing with the trustees and management their policies and procedures regarding compliance with laws and regulations;
-
Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit;
-
Considering the risk of acts by the group and the parent charity which were contrary to applicable laws and regulations, including fraud;
-
Making enquiries of the trustees and management on whether they had knowledge of any actual, suspected or alleged fraud;
-
Gaining an understanding of the internal controls established to mitigate risks related to fraud;
-
Discussing amongst the engagement team the risks of fraud;
-
Addressing the risks of fraud through management override of controls by performing journal entry testing; and
-
Challenging assumptions and judgements made by management in their critical accounting estimates
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
16
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF GREAT BRITAIN WHEELCHAIR RUGBY LIMITED (continued)
Use of the audit report
This report is made solely to the charity’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body for our audit work, for this report, or for the opinions we have formed.
Signed:
Che
Chris McKain Senior Statutory Auditor For and on behalf of UHY Hacker Young LLP
Date: ......................... 9 December 2024
Chartered Accountants Statutory Auditor
14 Park Row Nottingham NG1 6GR
17
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Including Consolidated Income and Expenditure Account)
For the year ended 31 March 2024
| Notes | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| restated | |||||
| £ | £ | £ | £ | ||
| Income | |||||
| Donations and subscriptions | 7 | 167,543 | 74,622 | 242,165 | 177,721 |
| Income from charitable | |||||
| activities | 3 | 969,978 | 1,328,095 | 2,298,073 | 1,730,919 |
| Other income | 19,547 | - | 19,547 | 9,906 | |
| ───── | ───── | ───── | ───── | ||
| Total income | 1,157,068 | 1,402,717 | 2,559,785 | 1,918,546 | |
| ───── | ───── | ───── | ───── | ||
| Expenditure | |||||
| Costs of raising funds | 2,392 | - | 2,392 | 311 | |
| Charitable activities | 8 | 1,250,519 | 1,402,717 | 2,653,236 | 1,931,969 |
| ───── | ───── | ───── | ───── | ||
| Total expenditure | 1,252,911 | 1,402,717 | 2,655,628 | 1,932,280 | |
| ───── | ───── | ───── | ───── | ||
| Net movement in funds | (95,843) | - | (95,843) | (13,736) | |
| (before transfers) | |||||
| Transfer from restricted funds | |||||
| to unrestricted funds | 291,100 | (291,100) | - | - | |
| ───── | ───── | ───── | ───── | ||
| Net movement in funds | |||||
| (after transfers) | 195,257 | (291,100) | (95,843) | (13,736) | |
| Total funds brought forward | 16,731 | 291,100 | 307,831 | 321,567 | |
| ───── | ───── | ───── | ───── | ||
| Total funds carried forward | 211,988 | - | 211,988 | 307,831 | |
| ═════ | ═════ | ═════ | ═════ |
The charity’s income and expenditure all relate to continuing operations. There are no recognised gains or losses for the year other than those shown above.
The notes on pages 22 to 35 form part of these financial statements.
18
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
CONSOLIDATED BALANCE SHEET
as at 31 March 2024
| Notes | 2024 | 2024 | 2023 | 2023 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Intangible fixed assets | 9 | 4,774 | 5,076 | ||
| Tangible fixed assets | 10 | 5,151 | 3,907 | ||
| Current assets | |||||
| Cash at bank | 446,379 | 714,472 | |||
| Debtors | 12 | 294,434 | 464,750 | ||
| ───── | ───── | ||||
| 740,813 | 1,179,222 | ||||
| Creditors: amounts falling due within one | |||||
| year | 13 | 538,750 | 880,374 | ||
| ───── | ───── | ||||
| Net current assets | 202,063 | 298,848 | |||
| ────── | ────── | ||||
| Net Assets | 211,988 | 307,831 | |||
| ══════ | ══════ | ||||
| Funds | |||||
| Restricted funds | 14 | - | 291,100 | ||
| Unrestricted funds | 14 | 211,988 | 16,731 | ||
| ────── | ────── | ||||
| Total Funds | 211,988 | 307,831 | |||
| ══════ | ══════ |
Approved and authorised for issue by the Board on 4 December 2024 and signed on its behalf by:
E W Warner OBE C J Conway Trustee Trustee
Company Registration No: 06108379 Registered Charity No: 1130038
The notes on pages 22 to 35 form part of these financial statements.
19
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
CHARITY BALANCE SHEET
as at 31 March 2024
| Notes | 2024 | 2024 | 2023 | 2023 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Investments | 11 | 100 | 600 | ||
| Intangible fixed assets | 9 | 9 4,774 |
5,076 | ||
| Tangible fixed assets | 10 | 5,151 | 3,907 | ||
| ───── | 10,025 | ───── | 9,583 | ||
| Current assets | |||||
| Cash at bank | 185,325 | 534,359 | |||
| Debtors | 12 | 339,878 | 233,182 | ||
| ───── | ───── | ||||
| 525,203 | 767,541 | ||||
| Creditors: amounts falling due within | |||||
| one year | 13 | 323,141 | 378,098 | ||
| ───── | ───── | ||||
| Net current assets | 202,062 | 389,443 | |||
| ────── | ────── | ────── | |||
| Net Assets | 212,087 | 399,026 | |||
| ══════ | ══════ | ══════ | |||
| Funds | |||||
| Restricted funds | 14 | - | 291,100 | ||
| Unrestricted funds | 14 | 212,087 | 107,926 | ||
| ────── | ────── | ────── | |||
| Total Funds | 212,087 | 399,026 | |||
| ══════ | ══════ | ══════ |
Approved and authorised for issue by the Board on 4 December 2024 and signed on its behalf by:
E W Warner OBE C J Conway Trustee Trustee
Company Registration No: 06108379 Registered Charity No: 1130038
The notes on pages 22 to 35 form part of these financial statements.
20
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 31 March 2024
| 2024 | 2024 | 2023 | 2023 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cash flows from operating activities | ||||
| Net expenditure | (95,843) | (13,736) | ||
| Adjustments for: | ||||
| Decrease/(Increase) in trade and other | ||||
| receivables | 170,316 | (365,101) | ||
| (Decrease)/Increase in trade and other | ||||
| payables | (341,624) | 413,323 | ||
| Amortisation | 593 | 564 | ||
| Depreciation | 4,711 | 4,196 | ||
| ───── | ───── | |||
| Cash flows from operations and net | ||||
| cash flow from operating activities | (261,847) | 39,246 | ||
| Cash flow from investing activities | ||||
| Acquisitions of intangible fixed assets | (291) | (5,640) | ||
| Acquisitions of tangible fixed assets | (5,955) | (3,544) | ||
| ───── | ───── | |||
| Cash flows from investing activities | (6,246) | (9,184) | ||
| ───── | ───── | |||
| Net (decrease)/increase in cash | (268,093) | 30,062 | ||
| ═════ | ═════ |
| Note to the consolidated statement of cash flows (year ended 31 March 2024) | Note to the consolidated statement of cash flows (year ended 31 March 2024) | Note to the consolidated statement of cash flows (year ended 31 March 2024) | |
|---|---|---|---|
| At 31 March 2023 | Cash flow | At 31 March 2024 | |
| £ | £ | £ | |
| Cash at bank and net cash | 714,472 | (268,093) | 446,379 |
| ═════ | ═════ | ═════ | |
| Note to the consolidated statement of cash flows (year ended 31 March 2023) | |||
| At 31 March 2022 | Cash flow | At 31 March 2023 | |
| £ | £ | £ | |
| Cash at bank and net cash | 684,410 | 30,062 | 714,472 |
| ═════ | ═════ | ═════ |
The notes on pages 22 to 35 form part of these financial statements.
21
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 March 2024
1. Principal accounting policies
1.1 Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with 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), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.
Great Britain Wheelchair Rugby Limited meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
The functional currency of the charitable company and the presentation currency for the charitable company and group is the £ Sterling. This is the currency of the primary economic environment in which the charity operates.
The Trustees have considered the level of reserves at 31 March 2024 (and especially the level of unrestricted funds), and forecasts for the year ending on 31 March 2025 and future periods. Concluding that the group is a going concern and, accordingly, the financial statements have been prepared on that basis.
The financial statements consolidate the results of the charity and its wholly owned subsidiary undertaking, GBWR Trading Limited. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented as the company has taken advantage of the exemption afforded by section 408 of the Companies Act 2006. The charity generated a deficit of £186,939 (2023: £12,297 surplus) in the year including a gift aided donation from the subsidiary of £Nil (2023: £Nil).
In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per Voting member of the company while he/she is a Voting member of the company or within 1 year after he/she ceases to be a Voting member.
1.2 Income
All income is recognised in the Statement of Financial Activities where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. The following policies are applied to particular categories of income:
-
Donations, subscriptions and similar income are included in full when receivable;
-
- Donations in kind are valued at the estimated open market cost of the service or goods received and a corresponding amount is recognised in expenditure on completion of the work; and
-
Income from charitable activities is income of the subsidiary undertaking and grants. Grants are recognised when the charity becomes unconditionally entitled to them.
22
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
- 1.3 Funds
Restricted funds arise from income whose purpose is set out in and restricted by the agreements making such income available.
Unrestricted funds arise from income receivable for the objects of GBWR without further specified purpose.
1.4 Expenditure
Expenditure is accounted for in the Statement of Financial Activities on the accruals basis and classified under headings which aggregate all the costs which relate to that heading. Payments under contract are recognised to the extent that the contract has been completed in the year in question. Expenditure is classified as follows:
-
Costs of raising funds comprise the direct costs associated with attracting voluntary income; and
-
Charitable activities includes both direct costs incurred by the charity in the delivery of its activities and those costs of an indirect nature necessary to support such expenditure.
Expenditure incurred which relates directly to a specific event are recognised at the time of the event.
1.5 Tangible fixed assets and depreciation
Tangible fixed assets are stated at original cost less accumulated depreciation. Depreciation is provided to write off the cost less estimated residual value of the assets on a straight-line basis over their estimated useful lives. A full year’s depreciation charge is charged in the year of acquisition. The estimated useful lives are:
| Office equipment | 3 years |
|---|---|
| Staging Equipment | 3 years |
Wheelchairs and Sporting Equipment are expensed in full in the year of purchase or acquisition.
1.6 Intangible fixed assets and amortisation
Intangible fixed assets relate to trademarks, and are stated at original cost less accumulated amortisation. These assets are written off over their estimated useful lives of 10 years.
1.7 Pensions
The charity operates a defined pension contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
23
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
1.8 Foreign Exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
1.9 Judgements in applying accounting policies and key sources of estimation uncertainty
Critical judgements in applying the charity’s accounting policies
The critical judgements that the trustees have made in the process of applying the charity’s accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below.
Assessing indicators of impairment
In assessing whether there have been any indicators of impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no indicators of impairments identified during the current financial year.
Key sources of estimation uncertainty
There are no material key sources of estimation uncertainty.
24
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
2 Prior year consolidated statement of financial activities
The prior year comparative analysis of the consolidated statement of financial activities is set out below:
| Notes | Unrestricted | Restricted | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | ||
| 2023 | 2023 | 2023 | ||
| restated | restated | restated | ||
| £ | £ | £ | ||
| Income | ||||
| Donations and subscriptions | 7 | 119,244 | 58,477 | 177,721 |
| Income from charitable | ||||
| activities | 3 | 212,019 | 1,518,900 | 1,730,919 |
| Other income | 9,906 | - | 9,906 | |
| ───── | ───── | ───── | ||
| Total income | 341,169 | 1,577,377 | 1,918,546 | |
| ───── | ───── | ───── | ||
| Expenditure | ||||
| Costs of raising funds | 311 | - | 311 | |
| Charitable activities | 8 | 354,592 | 1,577,377 | 1,931,969 |
| ───── | ───── | ───── | ||
| Total expenditure | 354,903 | 1,577,377 | 1,932,280 | |
| ───── | ───── | ───── | ||
| Net movement in funds | (13,736) | - | (13,736) | |
| Total funds brought forward | 30,467 | 291,100 | 321,567 | |
| ───── | ───── | ───── | ||
| Total funds carried forward | 16,731 | 291,100 | 307,831 | |
| ═════ | ═════ | ═════ |
The prior year figures are restated to reflect the below adjustments:
-
Recognition of donation in-kinds received amounting to £54,670. The adjustment resulted in an increase to the unrestricted donations and subscriptions, and corresponding increase to the value of expenditure classified as unrestricted charitable activities.
-
Reallocation of £24,734 intercompany management charge from cost of raising funds to charitable activities.
There is no impact to the fund’s figures resulting from these two adjustments.
25
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
3 Income from charitable activities
Group
This comprises funding from:
| Group This comprises funding from: |
||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Sport England – Talent | 105,789 | 123,041 |
| Sport England - Delivery | 61,000 | 153,689 |
| Sport England – Governing and Systemic | 354,211 | 350,489 |
| UK Sport – International Influence | 17,546 | 12,550 |
| UK Sport – Award | 789,549 | 879,131 |
| GBWR Trading Limited – Sponsorship and tournament income |
969,952 | 211,994 |
| Other | 26 | 25 |
| ───── | ───── | |
| 2,298,073 | 1,730,919 | |
| ═════ | ═════ | |
| Net expenditure | ||
| Group | ||
| This is stated after charging: | ||
| 2024 | 2023 | |
| restated | ||
| £ | £ | |
| Auditor’s remuneration – Audit Fee | 8,400 | 7,800 |
| Staff remuneration | 698,543 | 634,895 |
| Loss on foreign exchange | 1,453 | 2,997 |
| Depreciation | 4,711 | 4,196 |
| Amortisation | 593 | 564 |
| ═════ | ═════ | |
| Staff remuneration comprises: | ||
| 2024 | 2023 | |
| restated | ||
| £ | £ | |
| Wages and salaries | 623,498 | 558,589 |
| Social security | 54,175 | 56,259 |
| Pension costs | 20,870 | 20,047 |
| ───── | ───── | |
| 698,543 | 634,895 | |
| ═════ | ═════ |
- 4 Net expenditure
26
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
4 Net expenditure (continued)
Employees
The average number of employees during the year was 19 (2023: 17).
1 employee received employee benefits of between £70,000 and £80,000 in the year (2023: 1 employee with benefits of between £60,000 and £70,000).
Key Management Personnel
The key management personnel of the company are the Trustees, the Chief Executive Officer, the Head of Performance Support and Science, the National Development Director and the Head of Business Operations. The Trustees did not receive or waive any emoluments in respect of their services to the charity in either year. The total employee benefits of the key management personnel were £274,869 (2023: £260,427). The subsidiary undertaking has no employees, and its directors received no employee benefits in either year.
5 Taxation
The company is a registered charity and is thus exempt from taxation on its charitable income for the year, provided that this is applied for charitable purposes.
6 Trustees’ expenses
During the year 7 (2023: 8) Trustees received reimbursement of out-of-pocket expenses, totalling £3,282 (2023: £2,989), relating to travel, accommodation, subsistence, and training costs. The expenses reimbursed arise principally in respect of Trustee attendance at international events and this is funded from the UK Sport International Influence grant. Out of pocket expenses reimbursed to J Brisbane that arose during the performance of their duties as Chief Executive Officer for respective periods in the year are not included in these amounts.
27
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
7 Voluntary income
Group
| 2024 | 2024 | 2024 | 2023 | ||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Unrestricted | Restricted | Total | Total | ||
| restated | |||||
| Get Kids Going! | - | 40,984 | 40,984 | 27,617 | |
| Membership subscriptions | 33,829 | - | 33,829 | 29,638 | |
| Welsh Rugby Charitable Trust | - | 16,225 | 16,225 | 27,685 | |
| Welsh Income Open | - | - | - | 1,343 | |
| Middlesex Sports Foundation | - | 17,413 | 17,413 | 1,832 | |
| Club Competition fees | 74,614 | - | 74,614 | 34,968 | |
| Course fees | 62 | - | 62 | (32) | |
| Hogan Lovells | 26,638 | - | 26,638 | 40,270 | |
| RFU | 18,000 | - | 18,000 | - | |
| RMA Sport | 14,400 | - | 14,400 | 14,400 | |
| ───── | ───── | ───── | ───── | ||
| 167,543 | 74,622 | 242,165 | 177,721 | ||
| ═════ | ═════ | ═════ | ═════ | ||
| 8 | Charitable activities | ||||
| Group | |||||
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Direct costs | Support costs | Total | Total | ||
| restated | |||||
| GB Elite Squad | 646,446 | - | 646,446 | 708,585 | |
| Community Development & | 441,902 | - | 441,902 | 447,154 | |
| Education | |||||
| Talent | 158,992 | - | 158,992 | 194,116 | |
| Support Costs | - | 498,177 | 498,177 | 369,132 | |
| GBWR Trading cost of sales | 907,614 | - | 907,614 | 213,153 | |
| GBWR Trading Administration | |||||
| Expenses | - | 105 | 105 | 140 | |
| ───── | ───── | ───── | ───── | ||
| 2,154,954 | 498,282 | 2,653,236 | 1,932,280 | ||
| ═════ | ═════ | ═════ | ═════ |
28
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
- 8 Charitable activities (continued)
Support costs comprise:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Total | Total | |
| restated | ||
| Employment costs | 192,629 | 168,197 |
| Accommodation, travel and subsistence | 25,596 | 24,342 |
| Accounting, legal, insurance and other professional services | 134,205 | 114,152 |
| Marketing and communications, excluding related | 13,985 | 23,500 |
| employment costs | ||
| Other | 25,375 | 24,537 |
| Contribution to subsidiary event hosting | 73,128 | - |
| International activities | 18,591 | 10,828 |
| Governance costs | 14,668 | 3,576 |
| ───── | ───── | |
| 498,177 | 369,132 | |
| ═════ | ═════ |
The analysis of public and non-public income and its application is as follows:
| Sport | UK Sport | Non-public | ||
|---|---|---|---|---|
| England | income | Total | ||
| £ | £ | £ | £ | |
| Revenue grants | 521,000 | 807,095 | - | 1,328,095 |
| Donations | - | - | 208,336 | 208,336 |
| Membership | - | - | 33,829 | 33,829 |
| Trading | - | - | 969,952 | 969,952 |
| Other | - | - | 19,573 | 19,573 |
| ───── | ───── | ───── | ───── | |
| 521,000 | 807,095 | 1,231,690 | 2,559,785 | |
| ═════ | ═════ | ═════ | ═════ | |
| Employment contracts | 259,929 | 305,768 | 132,846 | 698,543 |
| International | 215 | 17,885 | 491 | 18,591 |
| Competitions | 20,169 | 118,600 | 13,731 | 152,500 |
| Athlete support | 3,060 | 9,311 | 6,280 | 18,651 |
| Core activities | 110,355 | 159,649 | 115,144 | 385,148 |
| Trading | - | - | 907,720 | 907,720 |
| Overheads | 127,272 | 195,882 | 151,321 | 474,475 |
| ───── | ───── | ───── | ───── | |
| 521,000 | 807,095 | 1,327,533 | 2,655,628 | |
| ═════ | ═════ | ═════ | ═════ |
29
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
9 Intangible fixed assets
Group and charity
| Trademarks | Total | |
|---|---|---|
| £ | £ | |
| Cost | ||
| At 1 April 2023 | 5,640 | 5,640 |
| Additions | 291 | 291 |
| ───── | ───── | |
| At 31 March 2024 | 5,931 | 5,931 |
| ───── | ───── | |
| Amortisation | ||
| At 1 April 2023 | 564 | 564 |
| Charge for year | 593 | 593 |
| ───── | ───── | |
| At 31 March 2024 | 1,157 | 1,157 |
| ───── | ───── | |
| Net Book Value at | ||
| 31 March 2024 | 4,774 | 4,774 |
| ═════ | ═════ | |
| 31 March 2023 | 5,076 | 5,076 |
| ═════ | ═════ |
30
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
10 Tangible fixed assets
Group and charity
| Group and charity | ||||
|---|---|---|---|---|
| Office | Staging | |||
| Equipment | Equipment | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 April 2023 | 28,330 | 10,030 | 38,360 | |
| Additions | 5,105 | 850 | 5,955 | |
| ───── | ───── | ───── | ||
| At 31 March 2024 | 33,435 | 10,880 | 44,315 | |
| ───── | ───── | ───── | ||
| Depreciation | ||||
| At 1 April 2023 | 24,746 | 9,707 | 34,453 | |
| Charge for year | 4,104 | 607 | 4,711 | |
| ───── | ───── | ───── | ||
| At 31 March 2024 | 28,850 | 10,314 | 39,164 | |
| ───── | ───── | ───── | ||
| Net Book Value at | ||||
| 31 March 2024 | 4,585 | 566 | 5,151 | |
| ═════ | ═════ | ═════ | ||
| 31 March 2023 | 3,584 | 323 | 3,907 | |
| ═════ | ═════ | ═════ | ||
| 11 | Investments | |||
| Charity | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| At cost at beginning and end of year | 600 | 600 | ||
| Investment write off | (500) | - | ||
| ───── | ───── | |||
| 100 | 600 | |||
| ══════ | ══════ |
The investment comprises 100% of the issued share capital of GBWR Trading Limited (company number 09144337).
31
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
12 Debtors
| Group | Charity | Group | Charity | |
|---|---|---|---|---|
| 2024 | 2024 | 2023 | 2023 | |
| £ | £ | £ | £ | |
| Trade debtors | 109,856 | 23,285 | 145,476 | 5,736 |
| Amount due from subsidiary undertaking | - | 191,395 | - | 118,809 |
| Prepayments and accrued income | 184,578 | 125,198 | 319,274 | 108,637 |
| ────── | ────── | ────── | ────── | |
| 294,434 | 339,878 | 464,750 | 233,182 | |
| ══════ | ══════ | ══════ | ══════ | |
| editors | ||||
| Group | Charity | Group | Charity | |
| 2024 | 2024 | 2023 | 2023 | |
| £ | £ | £ | £ | |
| Trade creditors | 213,751 | 166,706 | 192,086 | 191,622 |
| Social security and other taxes | 47,607 | 22,317 | 46,571 | 20,402 |
| Accruals and other creditors | 277,392 | 134,118 | 641,717 | 166,074 |
| ────── | ────── | ────── | ────── | |
| 538,750 | 323,141 | 880,374 | 378,098 | |
| ══════ | ══════ | ══════ | ══════ |
13 Creditors
At the balance sheet date, the company had defined contribution pension scheme obligations of £Nil (2023 : £Nil) included within accruals and other creditors.
Deferred income reconciliation
| Group | Charity | Group | Charity | |
|---|---|---|---|---|
| 2024 | 2024 | 2023 | 2023 | |
| £ | £ | £ | £ | |
| Balance brought forward | 619,578 | 144,734 | 334,617 | 314,617 |
| Amounts released to the Statement of | (619,578) | (144,734) | (314,617) | (314,617) |
| Financial Activities | ||||
| Amounts deferred in the year | 226,919 | 84,619 | 599,578 | 144,734 |
| ────── | ────── | ────── | ────── | |
| Balance carried forward | 226,919 | 84,619 | 619,578 | 144,734 |
| ══════ | ══════ | ══════ | ══════ |
32
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
14 Analysis of net assets between funds Group
| Group | |||
|---|---|---|---|
| Unrestricted Funds | Restricted Funds | Total | |
| £ | £ | £ | |
| Fixed Assets | - | 9,925 | 9,925 |
| Cash | 366,046 | 80,333 | 446,379 |
| Debtors | 207,790 | 86,644 | 294,434 |
| Creditors | (361,848) | (176,902) | (538,750) |
| ────── | ────── | ────── | |
| 211,988 | - | 211,988 | |
| ══════ | ══════ | ══════ | |
| Charity | |||
| Unrestricted Funds | Restricted Funds | Total | |
| £ | £ | £ | |
| Fixed assets | - | 9,925 | 9,925 |
| Investment in subsidiary | 100 | - | 100 |
| Cash | 104,992 | 80,333 | 185,325 |
| Debtors | 253,234 | 86,644 | 339,878 |
| Creditors | (146,239) | (176,902) | (323,141) |
| ────── | ────── | ────── | |
| 212,087 | - | 212,087 | |
| ══════ | ══════ | ══════ |
Charity
Restricted Funds derive principally from UK Sport (delivery of GB team programme and contribution towards back-office operating costs), Sport England (delivery programmes focussed on developing the sport at grassroots level, talent development and contribution towards back-office operating costs), and the #saveGBWR campaign (supporting the GB team).
In most cases funds received are expended for the agreed purpose within the same financial year.
33
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
14 Analysis of net assets between funds (continued)
Funds are analysed as follows:
Group
| Group | |||||
|---|---|---|---|---|---|
| Brought | Income | Expenditure | Transfer | Carried | |
| forward | between funds | forward | |||
| £ | £ | £ | £ | £ | |
| Unrestricted | 16,731 | 1,098,030 | 1,193,873 | 291,100 | 211,988 |
| #saveGBWR | 44,766 | - | - | (44,766) | - |
| UK Sport | 3,745 | 807,095 | 807,095 | (3,745) | - |
| Sport England | 138,214 | 521,000 | 521,000 | (138,214) | - |
| WRCT | - | 16,225 | 16,225 | - | - |
| Get Kids Going! | - | 40,984 | 40,984 | - | - |
| Middlesex Sports | |||||
| Foundation | - | 17,413 | 17,413 | - | - |
| Other restricted | |||||
| funds | 104,375 | - | - | (104,375) | - |
| ────── | ────── | ────── | ────── | ────── | |
| Total | 307,831 | 2,500,747 | 2,596,590 | - | 211,988 |
| ══════ | ══════ | ══════ | ══════ | ══════ | |
| Charity | |||||
| Brought | Income | Expenditure | Transfer | Carried | |
| forward | between funds | forward | |||
| £ | £ | £ | £ | £ | |
| Unrestricted | 107,926 | 187,116 | 374,055 | 291,100 | 212,087 |
| #saveGBWR | 44,766 | - | - | (44,766) | - |
| UK Sport | 3,745 | 807,095 | 807,095 | (3,745) | - |
| Sport England | 138,214 | 521,000 | 521,000 | (138,214) | - |
| WRCT | - | 16,225 | 16,225 | - | - |
| Get Kids Going! | - | 40,984 | 40,984 | - | - |
| Middlesex Sports | |||||
| Foundation | - | 17,413 | 17,413 | - | - |
| Other restricted | |||||
| funds | 104,375 | - | - | (104,375) | - |
| ────── | ────── | ────── | ────── | ────── | |
| Total | 399,026 | 1,589,833 | 1,776,772 | - | 212,087 |
| ══════ | ══════ | ══════ | ══════ | ══════ |
During the current year, the allocation of restricted expenditure incurred from the 31 March 2017 financial statements onwards has been reviewed to ensure that the correct restricted fund balances are presented at the balance sheet date. The result of this work, was that the
34
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024
restricted fund balances were overstated by £291,100 and this realignment has been amended using a transfer of £291,100 to the unrestricted fund within these financial statements.
15 Related party transactions
During the year the company charged a management charge of £26,820 (2023: £24,734) to its subsidiary undertaking, GBWR Trading Limited. The amount owed by GBWR Trading Limited to the company at the year end was £191,395 (2023: £118,809) and this is included in debtors. This is net of a provision for £55,184 due to the subsidiary no longer trading.
16 Status of the company and ultimate controlling party
The company is limited by guarantee, has no share capital and therefore no legal controlling party.
17 Events after the reporting date
On 1 July 2024, the trading activity of the subsidiary, GBWR Trading Limited, was transferred to the parent company. The assets and liabilities were transferred subsequently and as such, the subsidiary company ceased to trade.
35
The page which follows is for Trustees’ information only
36
GREAT BRITAIN WHEELCHAIR RUGBY LIMITED
CHARITY STATEMENT OF FINANCIAL ACTIVITIES (including an Income and Expenditure Account) For the year ended 31 March 2024
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2024 | 2024 | 2024 | 2023 | |
| restated | ||||
| £ | £ | £ | £ | |
| Income | ||||
| Donations and subscriptions | 167,543 | 74,622 | 242,165 | 177,721 |
| Income from charitable | ||||
| activities | 26 | 1,328,095 | 1,328,121 | 1,518,925 |
| Other income | 19,547 | - | 19,547 | 9,906 |
| ───── | ───── | ───── | ───── | |
| Total income | 187,116 | 1,402,717 | 1,589,833 | 1,706,552 |
| ───── | ───── | ───── | ───── | |
| Expenditure | ||||
| Costs of raising funds | 2,392 | - | 2,392 | 311 |
| Charitable activities | 371,663 | 1,402,717 | 1,774,380 | 1,693,944 |
| ───── | ───── | ───── | ───── | |
| Total expenditure | 374,055 | 1,402,717 | 1,776,772 | 1,694,255 |
| ───── | ───── | ───── | ───── | |
| Net movement in funds | ||||
| (before transfers) | (186,939) | - | (186,939) | 12,297 |
| Transfer from restricted funds | ||||
| to unrestricted funds | 291,100 | (291,100) | - | - |
| ───── | ───── | ───── | ───── | |
| Net movement in funds | ||||
| (after transfers) | 104,161 | (291,100) | (186,939) | 12,297 |
| Total funds brought forward | 107,926 | 291,100 | 399,026 | 386,729 |
| ───── | ───── | ───── | ───── | |
| Total funds carried forward | 212,087 | - | 212,087 | 399,026 |
| ═════ | ═════ | ═════ | ═════ |
37