2021-09-30-accounts - Sports Aid Cymru Wales

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Sports Aid Cymru Wales

Charity No. 1135438

Company No. 07008455

Trustees' Report and Unaudited Accounts

30 September 2021

Sports Aid Cymru Wales Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report		4
Statement of Financial Activities		5
Summary Income and Expenditure Account		6
Balance Sheet		7
Notes to the Accounts	8 to	14
Detailed Statement of Financial Activities	15 to	16

Page 1

Sports Aid Cymru Wales Trustees Annual Report

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 September 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 07008455

Charity No. 1135438

Registered Office

Welsh Institute Of Sport Sophia Gardens Cardiff CF11 9SW

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

Steven Edwards Christopher Fido Nia Gittins David Gough John Hinchliffe Ronald Jones David Lloyd David Mason David Morgan Mark Oliver Nicholas Warr

Company Secretary

David Mason

Accountants

Naunton Jones Le Masurier 24 St Andrews Crescent Cardiff CF10 3DD

OBJECTIVES AND ACTIVITIES

The charity's objectives and activities are:

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.

Page 2

Sports Aid Cymru Wales Trustees Annual Report

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 75 grants to young sports people. These cover a wide range of sports which include:

Archery - Equestrian - Rugby - Table Tennis - Badminton - Golf - Skiing - Triathlon
Athletics - Fencing - Sailing - Tennis - Canoeing - Gymnastics - Shooting - Cricket
Judo - Snooker - Cycling - Paralympic Sports - Swimming

FINANCIAL REVIEW

Reserves held as at 30 September 2021 amounted to £151,150 (2020 £158,062 ) including restricted funds of £947 (2020 £7,399). It is the charity's policy to set aside income as a general reserve against future expenditure.

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.

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.

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.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

Mark Oliver Trustee 31 January 2022

Page 3

Sports Aid Cymru Wales Independent Examiners Report

Independent Examiner's Report to the trustees of Sports Aid Cymru Wales

I report to the charity trustees on my examination of the accounts of Sports Aid Cymru Wales for the year ended 30 September 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the Charities SORP (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Caroline Candy FCCA Naunton Jones Le Masurier 24 St Andrews Crescent Cardiff

CF10 3DD 31 January 2022

Page 4

Sports Aid Cymru Wales Statement of Financial Activities

for the year ended 30 September 2021

Unrestricted funds 2021 £ 16,872 1,020	Restricted funds 2021 £ 17,998 -	Total funds 2021 £ 34,870 1,020	Total funds 2020 £ 36,879 2,284
17,892 18,165 187	17,998 24,450 -	35,890 42,615 187	39,163 33,273 -
18,352 -	24,450 -	42,802 -	33,273 -
(460) -	(6,452) -	(6,912) -	5,890 -
(460)	(6,452)	(6,912)	5,890
(460) 150,663	(6,452) 7,399	(6,912) 158,062	5,890 152,172
150,203	947	151,150	158,062

Page 5

Sports Aid Cymru Wales Summary Income and Expenditure Account

for the year ended 30 September 2021

Income Interest and investment income Gross income for the year Expenditure Total expenditure for the year Net (expenditure)/income before tax for the year Net (expenditure )/income for the year	2021 £ 34,870 1,020 35,890 42,802 42,802 (6,912) (6,912)	2020 £ 36,879 2,284
		39,163
		33,273
		33,273
		5,890
		5,890

Page 6

Sports Aid Cymru Wales Balance Sheet

at 30 September 2021

Company No. 07008455 Notes 2021 £ Current assets Debtors 9 428 Cash at bank and in hand 151,457 151,885 Creditors:Amount falling due within one year 10 (735) Net current assets 151,150 Total assets less current liabilities 151,150 Net assets excluding pension asset or liability 151,150 Total net assets 151,150 The funds of the charity Restricted funds 11 Restricted income funds 947 947 Unrestricted funds 11 General funds 150,203 150,203 Reserves 11 Total funds 151,150	2020 £ 1,436 157,407
	158,843 (781)
	158,062 158,062
	158,062
	158,062
	7,399
	7,399 150,663
	150,663
	158,062

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 30 September 2021 the company was entitled to exemption 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 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 31 January 2022

And signed on its behalf by:

Mark Oliver Trustee

31 January 2022

Page 7

Sports Aid Cymru Wales Notes to the Accounts

for the year ended 30 September 2021

1 Accounting policies

Basis of preparation

The financial statements have been prepared 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

There are no material uncertainties regarding the charity's ability to continue as a going concern and therefore the accounts have been prepared on this basis.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 8

Sports Aid Cymru Wales Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 9

Sports Aid Cymru Wales Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 10

Sports Aid Cymru Wales Notes to the Accounts

3 Income from donations and legacies

Sports Council for Wales Sundry donations 4 Income from investments Bank interest 5 Expenditure on charitable activities Expenditure on charitable activities Support costs Consultancy (administration) Consultancy (general) Lunches Golf events Printing, postage and stationery Travel expenses Telephone Publicity General expenses Provision of financial assistance to young sports people Governance costs Independent examination	Unrestricted £ - 16,872 16,872 Unrestricted £ 10,800 - - 5,499 352 - 174 575 45 - 720 18,165	Restricted £ 17,998 - 17,998 Unrestricted £ 1,020 1,020 Restricted £ - - - - - - - - - 24,450 - 24,450	Total 2021 £ 17,998 16,872 34,870 Total 2021 £ 1,020 1,020 Total 2021 £ 10,800 - - 5,499 352 - 174 575 45 24,450 720 42,615	Total 2020 £ 18,000 18,879
				36,879
				Total 2020 £ 2,284
				2,284
				Total 2020 £ 10,800 1,678 3,004 1,358 345 293 170 290 15 14,600 720
				33,273

Page 11

Sports Aid Cymru Wales Notes to the Accounts

6 Analysis of grants

Activity or programme Sporting grants Activity or programme Sporting grants 7 Other expenditure General administrative costs 8 Staff costs No employee received emoluments in excess of £60,000. 9 Debtors Trade debtors 10 Creditors: amounts falling due within one year Accruals and deferred income	Grants to Individuals £ 24,450 24,450 Grant funding of activities £ 24,450 24,450 Unrestricted £ 187 187 2021 £ 428 428 2021 £ 735 735	Total 2021 £ 24,450 24,450 Total 2021 £ 24,450 24,450 Total 2021 £ 187 187	Total 2020 £ 14,600
			14,600
			Total 2020 £
			14,600
			14,600
			Total 2020 £ -
			-
			2020 £ 1,436
			1,436
			2020 £ 781
			781

Page 12

Sports Aid Cymru Wales Notes to the Accounts

11 Movement in funds

Incoming resources (including other gains/losses ) £ 17,998 17,998 17,892 35,890 At 1 October 2020 £	Resources expended £ (24,450) (24,450) (18,352) (42,802) Unrestricted funds £ 151,150 151,150 Cash flows £	At 30 September 2021 £ 947
		947
		150,203
		151,150
		Total £ 151,150
		151,150
		At 30 September 2021 £
157,407	(5,950)	151,457
157,407 157,407	(5,950) (5,950)	151,457
		151,457

Page 13

Sports Aid Cymru Wales Notes to the Accounts

14 Related party disclosures

During the year ended 30 September 2020 the charity paid £1,078 to Ronald Jones MBE, company secretary, for consultancy services. There were no related party transactions during the year ended 30 September 2021.

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.

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

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.

Page 14

Sports Aid Cymru Wales Detailed Statement of Financial Activities

for the year ended 30 September 2021

Income and endowments from: Donations and legacies Sports Council for Wales Sundry donations Investments Bank interest Total income and endowments Expenditure on: Charitable activities Consultancy (administration) Consultancy (general) Lunches Golf events Printing, postage and stationery Travel expenses Telephone Publicity General expenses Provision of financial assistance to young sports people Governance costs Independent examination Total of expenditure on charitable activities General administrative costs, including depreciation and amortisation General insurances Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income	Unrestricted funds 2021 £ - 16,872 16,872 1,020 1,020 17,892 10,800 - - 5,499 352 - 174 575 45 - 17,445 720 720 18,165 187 187 187 18,352 - (460)	Restricted funds 2021 £ 17,998 - 17,998 - - 17,998 - - - - - - - - - 24,450 24,450 - - 24,450 - - - 24,450 - (6,452)	Total funds 2021 £ 17,998 16,872 34,870 1,020 1,020 35,890 10,800 - - 5,499 352 - 174 575 45 24,450 41,895 720 720 42,615 187 187 187 42,802 - (6,912)	Total funds 2020 £ 18,000 18,879
				36,879
				2,284
				2,284
				39,163 10,800 1,678 3,004 1,358 345 293 170 290 15 14,600
				32,553
				720
				720
				33,273 -
				-
				-
				33,273 -
				5,890

Page 15

Sports Aid Cymru Wales Detailed Statement of Financial Activities

Sports Aid Cymru Wales Detailed Statement of Financial Activities
Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	(460) - (460) 150,663 150,203	(6,452) - (6,452) 7,399 947	(6,912) - (6,912) 158,062 151,150	5,890 -
				5,890
				152,172
				158,062

Page 16