Registration number 07008455 (England & Wales)
Sports Aid Cymru Wales Company limited by guarantee
The Directors' and Trustees' report and unaudited financial statements
for the year ended 30 September 2020
Charity Number 1135438
Sports Aid Cymru Wales Company limited by guarantee
Company information
| Directors and Trustees | Mark Oliver, Chairman | |
|---|---|---|
| David Morgan | Appointed on 17/06/2020 | |
| Christopher Fido | Appointed on 17/06/2020 | |
| Nia Gittins | Appointed on 17/06/2020 | |
| John Hinchliffe | ||
| David Lloyd | ||
| Nicholas Warr | ||
| Steven Edwards | ||
| David Mason | ||
| David Gough | ||
| Ronald Jones MBE | ||
| Secretary | David Mason | |
| Company number | 07008455 (England & Wales) | |
| Registered office | Welsh Institute Of Sport | |
| Sophia Gardens | ||
| Cardiff | ||
| CF11 9SW | ||
| Independent Examiners | Naunton Jones Le Masurier | |
| Chartered Certified Accountants | ||
| Registered Auditors | ||
| 24 St Andrews Crescent | ||
| Cardiff | ||
| CF10 3DD |
Sports Aid Cymru Wales Company limited by guarantee
| Contents | ||
|---|---|---|
| Page | ||
| Trustees' and Directors' report | 1 - 3 | |
| Independent Examiner's report | 4 - 5 | |
| Statement of Financial Activities | 6 | |
| Balance sheet | 7 | |
| Notes to the financial statements | 8 - 13 |
Sports Aid Cymru Wales Company limited by guarantee
Trustees' and Directors' report for the year ended 30 September 2020
The trustees, who are also directors of the Charity for the purposes of the Companies Act, present their report and the financial statements for the year ended 30 September 2020.
Incorporation
The company is incorporated as Sports Aid Cymru Wales.
The Companies House company number is 07008455 and the company's registered office and principal address is Welsh Institute Of Sport, Sophia Gardens, Cardiff, CF11 9SW.
The charity is registered with the Charity Commission under number 1135438.
Trustees and Directors
The trustees and directors who served during the year are as stated below:
Mark Oliver, Chairman Nicholas Warr Steven Edwards David Mason Christopher Fido Appointed on 17/06/2020 Nia Gittins Appointed on 17/06/2020 John Hinchliffe David Gough David Lloyd David Morgan Appointed on 17/06/2020
Statement of trustees and directors' responsibilities
The trustees and directors are responsible for preparing the trustees and directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees and directors to prepare financial statements for each financial year. Under that law the trustees and directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees and directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year. In preparing these financial statements, the trustees and directors are required to:
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 business.
The trustees and directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees and directors of a company must, in determining how amounts are presented within items in the profit and loss account and balance sheet, have regard to the substance of the reported transaction or arrangement, in accordance with generally accepted accounting principles and practice.
The trustees have complied with the duty in section 4 of the 2011/2006 Charities Act to have due regard to guidance published by the Charity Commission, including public benefit guidance.
Structure, Governance and Management
The governing documents of Sports Aid Cymru Wales are the Memorandum and Articles of Association.
The charity is a private company limited by guarantee.
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Sports Aid Cymru Wales Company limited by guarantee
Trustees' and Directors' report for the year ended 30 September 2020
.................... continued
The first trustees are those persons appointed under the articles. Future trustees shall be appointed as provided subsequently in the articles.
No trustees shall be appointed to any office of the Charity paid by salary or fees or receive any remuneration or other benefit in money or money's worth from the Charity.
Objectives and Activities for the public benefit
The charity's objectives and activities are:
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To advance the physical education and healthy recreation of young persons in Great Britain by providing financial or other assistance to such persons to enable them to participate in their chosen sport, provided that such persons would be eligible to represent the principality of Wales by virtue of their Welsh origin or parentage or domicile.
-
In the interest of social welfare to provide funds or to organise or provide, or assist in the provision of, facilities for recreation in any part of Great Britain for persons who by reason of their youth, social or economic circumstances have need of such facilities with the object of improving their conditions of life.
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To further such other purposes in Great Britain that are exclusively charitable in accordance with the laws of England and Wales.
When planning activities for the year, the trustees have considered the Charity Commission's guidance on public benefit. All charitable activities are undertaken to further the company's charitable purposes for the public benefit.
Sports Aid Cymru Wales receives money from donations, fund raising events and businesses and pays these out in grants to young sports persons.
Achievements and Performance
The main achievement of the charity during the year was to provide 70 grants to young sports people. These cover a wide range of sports which include:
| - Archery | - Equestrian | - Rugby | - Table Tennis |
|---|---|---|---|
| - Athletics | - Fencing | - Sailing | - Tennis |
| - Badminton | - Golf | - Skiing | - Triathlon |
| - Canoeing | - Gymnastics | - Shooting | |
| - Cricket | - Judo | - Snooker | |
| - Cycling | - Paralympic Sports | - Swimming |
Financial Review
Reserves held as at 30 September 2020 amounted to £158,062 (2019 £152,172 ) including restricted funds of £7,399 (2019 £3,999). It is the charity's policy to set aside income as a general reserve against future expenditure.
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Sports Aid Cymru Wales Company limited by guarantee
Trustees' and Directors' report for the year ended 30 September 2020
.................... continued
Plans for Future Periods
Sports Aid Cymru Wales hopes that it will continue to receive donations and provide young people with grants to encourage them to pursue their sporting ambitions.
Independent Examiners
The trustees and directors recommend that Naunton Jones Le Masurier remain in office until further notice.
The report has been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
This report was approved by the Board on .............................. and signed on its behalf by
Mark Oliver, Chairman Trustee
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Sports Aid Cymru Wales Company limited by guarantee
Independent Examiner's Report to the Trustees and Directors of Sports Aid Cymru Wales
I report on the accounts of the charitable company for the year ended 30 September 2020, which are set out on pages 6 to 13.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are resposible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed. (The charity is required by law to prepare accrued accounts and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.)
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all evidence that would be required in a an audit and consequntly no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which give me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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Sports Aid Cymru Wales Company limited by guarantee
I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Date:
Caroline Rachel Candy FCCA ( Independent Examiner)
Naunton Jones Le Masurier Chartered Certified Accountants & Registered Auditors 24 St Andrews Crescent Cardiff CF10 3DD
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Sports Aid Cymru Wales
Company limited by guarantee
Statement of Financial Activities for the year ended 30 September 2020
| Incoming resources | Notes | Unrestricted | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|---|---|
| Funds | Funds | funds | funds | ||||
| 2020 | 2020 | 2020 | 2019 | ||||
| £ | £ | £ | £ | ||||
| Incoming resources from | 5 | ||||||
| generated funds: | |||||||
| Voluntary income | |||||||
| Donations | 18,879 | 18,000 | 36,879 | 55,951 | |||
| Activities for generating funds: | -- | -- | -- | -- | |||
| Investment income | 2,284 | -- | 2,284 | 2,053 | |||
| Incoming resources from | |||||||
| charitable activities: | -- | -- | -- | -- | |||
| Total incoming resources | 21,163 | 18,000 | 39,163 | 58,004 | |||
| Resources expended | 6 | ||||||
| Costs of generating funds | -- | -- | -- | -- | |||
| Charitable activities | 17,953 | 14,600 | 32,553 | 62,598 | |||
| Governance costs | 720 | -- | 720 | 720 | |||
| Total resources expended | 18,673 | 14,600 | 33,273 | 63,318 | |||
| Net incoming resources before | |||||||
| other recognised gains | 2,490 | 3,400 | 5,890 | (5,314) | |||
| Other recognised gains | -- | -- | -- | -- | |||
| Reconciliation of funds | |||||||
| Total funds brought forward | 148,173 | 3,999 | 152,172 | 157,486 | |||
| Total funds carried forward | 150,663 | 7,399 | 158,062 | 152,172 |
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
The notes on page 9 to 13 form an integral part of these financial statements.
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Sports Aid Cymru Wales Company limited by guarantee
Balance sheet as at 30 September 2020
| Notes Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total assets less current liabilities Net assets 9 Funds General unrestricted funds 10 Restricted funds Total funds |
2020 £ 1,436 157,407 158,843 ) (781 |
£ 158,062 158,062 158,062 150,663 7,399 158,062 |
2019 £ 1,514 151,378 152,892 ) (720 |
£ 152,172 |
|---|---|---|---|---|
| 152,172 | ||||
| 152,172 | ||||
| 148,173 3,999 |
||||
| 152,172 |
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of the accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
The profit and loss account and directors’ report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.
Mark Oliver, Chairman Director and trustee
Registration number 07008455 (England & Wales)
The notes on pages 8 to 13 form an integral part of these financial statements.
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Sports Aid Cymru Wales Company limited by guarantee
Notes to the financial statements
for the year ended 30 September 2020
1 Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
1.1. Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
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the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014
-
the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)
1.2 Change of accounting policy
The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note 1.
1.3 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period (3.46 FRS102 SORP).
1.4 Material prior year errors
No material prior year errors have been recognised in the reporting period (3.47 FRS 102 SORP).
2. Income
2.1 Recognition of income
-
This is included in the Statement of Financial Activities (SoFA) when:
-
the charity becomes entitled to the resourses;
-
it is more likely than not that the trustees will receive the resourses;
-
the monetary value can be measured with sufficient reliability.
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Sports Aid Cymru Wales Company limited by guarantee
Notes to the financial statements
for the year ended 30 September 2020
.................... continued
2.2 Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
2.3 Suport costs
The charity has incurred expenditure on support costs.
3. Expenditure
3.1 Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
3.2 Governance and support costs
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
3.3 Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
4. Assets
4.1 Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
4.2 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restictions arise when specified by the donor or when funds are raised for specific restricted purposes.
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Sports Aid Cymru Wales
Company limited by guarantee
Notes to the financial statements for the year ended 30 September 2020
| .................... continued | .................... continued | |||||
|---|---|---|---|---|---|---|
| 5. | Incoming Resources | Unrestricted | Restricted | Total | Total | |
| Funds | Funds | 2020 | 2019 | |||
| Voluntary Income | £ | £ | £ | £ | ||
| Donations | ||||||
| Sports Council for Wales | - | 18,000 | 18,000 | 18,000 | ||
| CGI | - | - | - | - | ||
| Sports Aid Trust | - | - | - | 2,300 | ||
| OCS | - | - | - | 1,000 | ||
| P Harrison Trust | - | - | - | 1,000 | ||
| GVC | - | - | - | 3,000 | ||
| GLL | - | - | - | 6,000 | ||
| SSE | - | - | - | - | ||
| Thompson Trust | - | - | - | 4,000 | ||
| HALO | - | - | - | - | ||
| I Cap | - | - | - | - | ||
| My Lotto 24 | - | - | - | - | ||
| Sundry donations | 18,879 | - | 18,879 | 20,651 | ||
| 18,879 | 18,000 | 36,879 | 55,951 | |||
| Investment income | ||||||
| UK interest receivable | 2,284 | - | 2,284 | 2,053 | ||
| Total incoming resources | 21,163 | 18,000 | 39,163 | 58,004 |
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Sports Aid Cymru Wales Company limited by guarantee
Notes to the financial statements
for the year ended 30 September 2020
.................... continued
6. Resources expended
| Charitable activities | **Unrestricted ** | **Unrestricted ** | Restricted | Total | Total | |
|---|---|---|---|---|---|---|
| Funds | Funds | 2020 | 2019 | |||
| £ | £ | £ | £ | |||
| Provision of financial assistance to young sports people 14,600 | - | 14,600 | 45,650 | |||
| Support costs | ||||||
| Consultancy (Administration) | 10,800 | - | 10,800 | 7,200 | ||
| Consultancy (General) | 1,678 | - | 1,678 | 5,500 | ||
| Lunches | 3,004 | - | 3,004 | - | ||
| Golf events | 1,358 | - | 1,358 | - | ||
| Printing, postage and stationery | 345 | - | 345 | 86 | ||
| Travel expenses | 293 | - | 293 | 3,659 | ||
| Telephone | 170 | - | 170 | 122 | ||
| Publicity | 290 | - | 290 | 180 | ||
| General expenses | 15 | - | 15 | 201 | ||
| 32,553 | - | 32,553 | 62,598 | |||
| Governance | ||||||
| Independent examination | 720 | -- | 720 | 720 | ||
| 720 | -- | 720 | 720 | |||
| 7. | Debtors | |||||
| 2020 | 2019 | |||||
| £ | £ | |||||
| United Trust bond interest | 598 | 484 | ||||
| Julian Hodge bond interest | 838 | 1,029 | ||||
| 1,436 | 1,513 | |||||
| 8. | Creditors: amounts falling due | |||||
| 2020 | 2019 | |||||
| within one year | £ | £ | ||||
| Accruals | 781 | 720 |
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Sports Aid Cymru Wales
Company limited by guarantee
Notes to the financial statements for the year ended 30 September 2020
.................... continued
| 9. | Analysis of net assets between funds | Current | Current | Total |
|---|---|---|---|---|
| assets | liabilities | |||
| Unrestricted funds | 150,663 | 781 | 151,444 | |
| Restricted funds | 7,399 | -- | 7,399 | |
| 158,062 | 781 | 158,843 |
| 10. | Fund balances | Unrestricted | Restricted | Total |
|---|---|---|---|---|
| funds | funds | funds | ||
| £ | £ | £ | ||
| At 1 October 2019 | 148,173 | 3,999 | 152,172 | |
| Movement | 2,490 | 3,400 | 5,890 | |
| At 30 September 2020 | 150,663 | 7,399 | 158,062 |
The purpose of the unrestricted funds is to enable the charity to carry out its aim of providing young sports people with financial assistance.
11. Related party transactions
During the year the charity paid £1,078 to Ronald Jones MBE, company secretary, for consultancy services. The trustees and directors consider this to have been the market value of the services provided to the company.
12. Company limited by guarantee
Sports Aid Cymru Wales is a company limited by guarantee and accordingly does not have share capital.
Every member of the charity undertakes to contribute such amount as may be required (not exceeding £10) to the charity's assets if it should be wound up while he or she is a member or within one year after he or she ceases to be a member, for the payments of the charity's debts and liabilities contracted before he or she ceases to be a member, and the costs, charges and expenses of winding up.
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Sports Aid Cymru Wales Company limited by guarantee
Notes to the financial statements
for the year ended 30 September 2020
.................... continued
13. Connected parties
Sports Aid Cymru Wales is connected to SportsAid Trust, charity number 1111612 of 1st Floor, 21 Bloomsbury Street, London, WC1B 3HF, a national charity that undertakes similar work to Sports Aid Cymru Wales. SportsAid Trust receives some grants that need to be made available to sports people throughout the United Kingdom and therefore passes on a portion of these grants to Sports Aid Cymru Wales to grant to sports people in Wales. Also, SportsAid Trust includes in its website a section to promote the work of Sports Aid Cymru Wales.
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