## **Sports Aid Cymru Wales**
**Charity No. 1135438**
**Company No. 07008455**
**Trustees' Report and Unaudited Accounts**
**30 September 2023**
**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 2023.
## **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 (Resigned 26 October 2022) John Hinchliffe (Resigned 26 October 2022) David Lloyd David Mason David Morgan Mark Oliver David Phillips 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:
1. 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.
Page 2
**Sports Aid Cymru Wales Trustees Annual Report**
2. 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.
3. 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 109 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 2023 amounted to £147,724 (2022 £149,892 ) including restricted funds of £nil (2022 £nil). 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
David Mason
Company Secretary 20 March 2024
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 2023 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 ACCA Naunton Jones Le Masurier 24 St Andrews Crescent Cardiff
CF10 3DD 20 March 2024
Page 4
**Sports Aid Cymru Wales Statement of Financial Activities**
## **for the year ended 30 September 2023**
|**Notes**
**Income and endowments**
**from:**
Donations and legacies
4
Investments
5
**Total**
**Expenditure on:**
Charitable activities
6
Other
8
**Total**
Net gains on investments
**Net expenditure**
Transfers between funds
**Net expenditure before other**
**gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
34,345
1,734|**Restricted**
**funds**
**2023**
**£**
20,000
-|**Total funds**
**2023**
**£**
54,345
1,734|**Total funds**
**2022**
**£**
41,430
730|
|---|---|---|---|---|
||36,079
38,000
247|20,000
20,000
-|56,079
58,000
247|42,160
43,186
232|
||38,247
-|20,000
-|58,247
-|43,418
-|
||(2,168)
-|-
-|(2,168)
-|(1,258)
-|
||(2,168)|-|(2,168)|(1,258)|
||(2,168)
149,892|-
-|(2,168)
149,892|(1,258)
151,150|
||147,724|-|147,724|149,892|
Page 5
**Sports Aid Cymru Wales Summary Income and Expenditure Account**
## **for the year ended 30 September 2023**
|Income
Interest and investment income
**Gross income for the year**
Expenditure
**Total expenditure for the year**
Net expenditure before tax for the year
**Net expenditure for the year**|**2023**
**£**
54,345
1,734
56,079
58,247
58,247
(2,168)
(2,168)|**2022**
**£**
41,430
730|
|---|---|---|
|||42,160|
|||43,418|
|||43,418|
|||(1,258)|
|||(1,258)|
Page 6
**Sports Aid Cymru Wales Balance Sheet**
## **at 30 September 2023**
|**at 30 September 2023**||
|---|---|
|**Company No.**
**07008455**
**Notes**
**2023**
**£**
**Current assets**
Debtors
10
1,160
Cash at bank and in hand
148,785
149,945
**Creditors:**Amount falling due within one year
11
(2,221)
**Net current assets**
147,724
**Total assets less current liabilities**
147,724
**Net assets excluding pension asset or liability**
147,724
**Total net assets**
147,724
**The funds of the charity**
**Restricted funds**
12
**Unrestricted funds**
12
General funds
147,724
147,724
**Reserves**
12
**Total funds**
147,724|**2022**
**£**
482
150,131|
||150,613
(721)|
||149,892
149,892|
||149,892|
||149,892|
||149,892|
||149,892|
||149,892|
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 2023 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 20 March 2024
And signed on its behalf by:
David Mason
Trustee
20 March 2024
Page 7
**Sports Aid Cymru Wales Notes to the Accounts**
## **for the year ended 30 September 2023**
- 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.
## **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 **Statement of Financial Activities - prior year**
|3
**Statement of Financial Activities - prior year**|||||
|---|---|---|---|---|
|**Income and endowments from:**
Donations and legacies
Investments
**Total**
**Expenditure on:**
Charitable activities
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
4
**Income from donations and legacies**
Sports Council for Wales
Sundry donations
5
**Income from investments**
Bank interest|**Unrestricted**
**£**
-
34,345
34,345|**Unrestricted**
**funds**
**2022**
**£**
23,430
730
24,160
24,239
232
24,471
(311)
(311)
(311)
150,203
149,892
**Restricted**
**£**
20,000
-
20,000
**Unrestricted**
**£**
1,734
1,734|**Restricted**
**funds**
**2022**
**£**
18,000
-
18,000
18,947
-
18,947
(947)
(947)
(947)
947
-
**Total**
**2023**
**£**
20,000
34,345
54,345
**Total**
**2023**
**£**
1,734
1,734|**Total funds**
**2022**
**£**
41,430
730|
|||||42,160
43,186
232|
|||||43,418|
|||||(1,258)|
|||||(1,258)|
|||||(1,258)
151,150|
|||||149,892|
|||||**Total**
**2022**
**£**
18,000
23,430|
|||||41,430|
|||||**Total**
**2022**
**£**
730|
|||||730|
Page 11
**Sports Aid Cymru Wales Notes to the Accounts**
## 6 **Expenditure on charitable activities**
|**Unrestricted**
**Restricted**
**£**
**£**
_Expenditure on charitable_
_activities_
**Support costs**
Consultancy (administration)
11,850
-
Lunches
3,873
-
Golf events
6,329
-
Printing, postage and
stationery
322
-
Publicity
419
-
General expenses
87
-
Provision of financial
assistance to young sports
people
14,400
20,000
_Governance costs_
Independent examination
720
-
38,000
20,000
7
**Analysis of grants**
**Activity or programme**
**Grants to**
**Individuals**
**£**
Sporting grants
34,400
34,400
**Activity or programme**
**Grant**
**funding of**
**activities**
**£**
Sporting grants
34,400
34,400
Support costs attributable to grant making activities are as follows:
Consultancy (administration)
Printing, postage and stationery|**Total**
**2023**
**£**
11,850
3,873
6,329
322
419
87
34,400
720
58,000
**Total**
**2023**
**£**
34,400
34,400
**Total**
**2023**
**£**
34,400
34,400
**2023**
**£**
2,963
83
3,046|**Total**
**2022**
**£**
10,800
3,198
5,764
215
778
111
21,600
720|
|---|---|---|
|||43,186|
|||**Total**
**2022**
**£**
21,600|
|||21,600|
|||**Total**
**2022**
**£**|
|||21,600|
|||21,600|
|||**2022**
**£**
2,700
66|
|||2,766|
Page 12
**Sports Aid Cymru Wales Notes to the Accounts**
## 8 **Other expenditure**
|General administrative costs
9
**Staff costs**
No employee received emoluments in excess
10 **Debtors**
Trade debtors
11 **Creditors:**
amounts falling due within one year
Accrual for grant payable
Accruals and deferred income|of £60,000.|**Unrestricted**
**£**
247
247
**2023**
**£**
1,160
1,160
**2023**
**£**
1,500
721
2,221|**Total**
**2023**
**£**
247
247|**Total**
**2022**
**£**
232|
|---|---|---|---|---|
|||||232|
|||||**2022**
**£**
482|
|||||482|
|||||**2022**
**£**
-
721|
|||||721|
||||||
|12 **Movement in funds**
**Restricted funds:**
**Restricted income funds:**
_Total_
**Unrestricted funds:**
**General funds**
**Revaluation Reserves:**
**Total funds**|**At 1 October**
**2022**
-
-
149,892
149,892|**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
20,000
20,000
36,079
56,079|**Resources**
**expended**
**£**
(20,000)
(20,000)
(38,247)
(58,247)|**At 30**
**September**
**2023**
**£**
-|
|||||-|
|||||147,724|
|||||147,724|
Page 13
**Sports Aid Cymru Wales Notes to the Accounts**
## 13 **Analysis of net assets between funds**
|Net current assets
14 **Reconciliation of net debt**
Cash and cash equivalents
Net debt|**At 1 October**
**2022**
**£**|**Unrestricted**
**funds**
**£**
147,724
147,724
**Cash flows**
**£**|**Total**
**£**
147,724|
|---|---|---|---|
||||147,724|
||||**At 30**
**September**
**2023**
**£**|
||150,131|(1,346)|148,785|
||150,131
150,131|(1,346)
(1,346)|148,785|
||||148,785|
|||||
|15 **Related party disclosures**
_Name of related party_
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. This year £20,000 in
donations was passed onto Sports Aid Wales
Cymru. 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.
Page 14
**Sports Aid Cymru Wales Detailed Statement of Financial Activities**
## **for the year ended 30 September 2023**
|**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)
Lunches
Golf events
Printing, postage and stationery
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
Bank charges
General insurances
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net expenditure**
**Net expenditure before other**
**gains/(losses)**|**Unrestricted**
**funds**
**2023**
**£**
-
34,345
34,345
1,734
1,734
36,079
11,850
3,873
6,329
322
419
87
14,400
37,280
720
720
38,000
60
187
247
247
38,247
-
(2,168)
(2,168)|**Restricted**
**funds**
**2023**
**£**
20,000
-
20,000
-
-
20,000
-
-
-
-
-
-
20,000
20,000
-
-
20,000
-
-
-
-
20,000
-
-
-|**Total funds**
**2023**
**£**
20,000
34,345
54,345
1,734
1,734
56,079
11,850
3,873
6,329
322
419
87
34,400
57,280
720
720
58,000
60
187
247
247
58,247
-
(2,168)
(2,168)|**Total funds**
**2022**
**£**
18,000
23,430|
|---|---|---|---|---|
|||||41,430|
|||||730|
|||||730|
|||||42,160
10,800
3,198
5,764
215
778
111
21,600|
|||||42,466|
|||||720|
|||||720|
|||||43,186
45
187|
|||||232|
|||||232|
|||||43,418
-|
|||||(1,258)|
|||||(1,258)|
Page 15
**Sports Aid Cymru Wales Detailed Statement of Financial Activities**
|**Sports Aid Cymru Wales**
**Detailed Statement of Financial Activities**|||||
|---|---|---|---|---|
|Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|-
(2,168)|-
-
149,892
147,724|-
(2,168)
149,892
147,724|-|
|||||(1,258)|
|||||151,150|
|||||149,892|
Page 16