REGISTERED COMPANY NUMBER: 066T9416 (England and Wakn) REGISTERED CHARITY NUMBEFL" 1141066 REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEhlEfiTS FOR THE YEAR ENDED 31 MARCH 2024 FOR ThE SOWHSEA 8KATEPARK COMPANY LIMITED THE SOLrrHSEA SKATEPARK COPAPANY ￿￿￿ED coi¥rENTS OF THE FINANCIAL STATh1ENTS FOR THE YEAR ENDED 31 MARCH 2024 ReportofthgTh15tees 1 to S Inde￿dert ExamlMrf8 Repprt Notss to the Finoncll Statènwts 9 to 17 THE SOUTHSEA SKATEPARK COMPANY LIMrrED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Th& trustees vtho are ML%0 dtr8Ctors of the charity for ts wyposes of the Companle8 Act 21JO6, present thelr r•port Iho ffiun¢ial )t8temenls of the tharity for the year ended 31 Marth 2024. Tho trustees havo adupted ihe provi&ons of Accountlng Rgwttng by Charflles: Strt8mgnl of R8wnmended Pract appllcable lo charities pr8p8rlng lI￿r a￿ntS in ￿C(¥dan￿ Wi￿ Ihe Fin4rKyal RwtIr￿ Stsndwd appllcable In the UK and Republlc cf 1rd￿d (FRS 1021 (effedv8 l January 20191. OBJECTIVES AND ACTMTIES PthIllG ￿rnfit The trustees confrm Ihat they have Tefwred to Ihe guldanco wntane(l in the Charity C¢Ynmlsslon'5 genwal lanrA on publt b￿flI when reviv￿9 Ihe (*arty¥ aims and oblth&8 and kn ￿an￿ng future a(kntie5. Tha Irugtegs refer to wbllc benettl throuuhcxrt thts rewt. Pagè 1 THE SOUTPISEA SKATEPARK COMPANY LIMITED REPORT OF THE TRTJSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACH Cha EMENT AND PERFORMM¢E ble actlvltles '. In thb. Its trlrtewth yg•r of op9Trthoh. the was atyo to sustsirfi the regular number of sessbns for th8 year and to restart the regular actNthes Bnd 8v8nls ggntralg addition81 ho)me fcythe Skal epath as hwll as bein9 pcoularwith U￿r5 and Vb8TtOTB. the rogulaT Irtyi¢ng of tha park and were c£Jnllnu&l aF￿ ongolng ramp m81ntenanc repa1￿ carrkd out. The annual ROSPA safety Inspedlon was commlssijned the rèport ag81n d tho park operators for Ihelr (>3ntinuouB ifflprovements. In r8SF￿n80 to the detafcTrUng corKlltion of the ert ramp,11 has be￿ dismanued. am USBb￿ rnat8rlBls have r8Gydd. nd pr Usèrs: the maSoAiy of usws contlnuwj to b8 aged under 10 the PTopJiion of over 1Q u8oY8 has rf8en to 20%. Tha 6thid8d 88sslons - Night on Wednes(bys and Skate Nlght on Thursdays- ￿u3 51Tonger Ilnks vAth the locd ￿ller skatin9 c&nfflL￿5ty have contrityjtej to tNs. The space m8dÈ 8vaHabl8 by Ihe rerrK)va] of tho Vort ramp h8s recenty baan sat up as an area ￿mable forskstebo8rdws . hNherto urtd*-rapr&88ntod. Tho *adal sesslons for under 10 ypar Llds ￿lY {to ￿K￿ragO the guwEINin of>wig rldws) contknup4J Crt7 SabJnl8y and Sunday mrThng5 all year Tound Iwealher Perm￿ing% We also ¢onlsnue lo ￿￿COMe gn)ups asYourNJ Crn¥ arvj disabS1ty growjs fLY speciall Supported sassh]ns. we prowrnmed ￿ moninly wmmer roller ¢kn)s through the summw monts and organlsed a number Of$p￿#1 events kndudng of CotKretè, BMX and scootorjams. We wye vwy pjpawj lo ITUSt a n￿l￿Tr￿*reet wlh Ded￿ . Ixonze BMX med* wtnn8r al the 2022 Olylnp￿s and an alumni of Soulhsea Skatep8dL We were ￿1n InckJ(kd wlthin Ihe McaOrt￿$ are8 kn the 1hr88 days of the August bank hdiday weekend. This gNes peOe ￿ opportunlty lo take part In slKvt roller disco sesslon$. have a go at val￿$ ¥c*is and alch tha Pa￿ dl8play team pthi. ', In smell gTOUPS ran thrLMJghwt the dryer morths and Ihe c*aL*ing vouclws were 8dll populat a8 btrthdiy and ¢))risknas Qut ￿ Hour& bet*use of th8 roll8r dlsc4)g and othu e￿15 orty limited out-of-hourn use of the park was avalk4bJe for ehlldren's partf8s 8nd group hlr88 but w8 wua a￿e lo host a number of film $c￿enIng5 Ol￿rI￿1 by PortsrrK>ulh Film So•. Jo: wo add&1 a small number of BMX bik95 to ￿ equlpment avall4bk8 for hlM th addltkffl ta ts, skaL8 ljoath skaies and these all provkle an OPSKXtunity for b&ainner& Publ our webslie, faceknk and Inslagram page¥ were kept up to dalE, errablng staff lo g￿e users retyjbr Tnfo rm811)n on Ope￿ng dayB and tSmes and Irrformati￿ (m forthcNThmlng events. Ihe perk Is unsafe to ride or skate Ykn9n wrf.. Ir raln starts ￿wIng a 8a881on and Ih8 p ha$ to,dose, users are giv￿ a 'r8&n￿<11 ticker vthlch gfves thwn a futurg ¥esslon at a Tedwed cost. We nwlntslned this Conces￿on during the y8¥. Qo&.' Mthlch runs und8r a I¢￿ce aErear￿nt by IndgporKlent DpemtLYS th•NJed provhjer In th& mldd8 of the yegr. The rtew owalor has refuTblthed tha café unit artd ravamped the menu. wlh an ernph￿s on h*lthy and the us• o118cydab￿ Tnakn r W•￿1[Y tradlng rA￿npanY opeTate8 the Skatepark shop aThJ al trading profil$ are rrad lo the to suppyi the nmnlivJ of thè skatepart Wa ￿11 blke5. 8pare4 skates, bgar¢ls, 9X￿)I9T8, hdmets aThJ dolling. IrKI￿￿lng cur owTr brand itoms. '. lh6 part w8$ avBllaL49 thjrlng thè yaAr as a v8nu8 foT ￿0t05P￿￿?t5 by skalgljoardgrs, BMX olhw4 makgws ￿nd young f8Bhlon P&ll• 2 THE SOUTHSEA SKATEPARK COMPANY LIMrrED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 foARCH 2024 staffing There wa$ somg tur1￿¥¥ of staff duFing tho year. ThEinly as student members finlshed thglr courses al Ihe Ur￿￿. The (tsrity wItnu￿ to ensure that dl siaff arg Jrst akF trok￿d an¢J DBS cwgd at enhanr*d Futur• plan¥ R¢of prDiBI*- follow￿9 the e8rtler by the Pl8nnln9 depBrtment of the ￿L￿ni11ed P￿nS trj roof over the rink whkh would O￿trA8 QF¢nSnu In wet W88lher and to provide new indLYX Space lor edLThtk)n and 86*¥ity rooms, a revlsed sol of dTawro$ We￿ d8vd¢)pgd for re.gJbml$slon to the k*al 8uthorfty for pfe-pbannlng thke. Thè fijnthrg for tho fum p￿nn1￿ 8ppbc8tion FTa8 b88n agr88d by Pc¥ismoulh city Counal aThJ Ihe SLknmlsslon wll be made soon. Appreelauon and thanks Thls Annual ReFQrt gives the Board an Op￿￿tun￿ lo offer public thanks to Ihe rnany p¥oplg hav8 6uppotsJ Iheirworkto dat& SpecJ81 t￿￿1*S go to the followtng.. The yo￿nteer DJS 81 the rdlerdlwos and the pcater de3ign - The band ofV0￿￿tears who work on Ihe r8rnp repair ar￿ malnien￿¢6 and help out 8t events - hEhford Press for the prtnlltvJ of po¥tws and vouthar5 Portgnwth CMY COU￿11 forlhwr frJndinG SUPPOrt forth? rwfpl8n8 . Jty Rkkeits ofJLR S￿e@s ts Ihe provkn lo rernDve ￿ wuoKJ from rdmp repalrs - Indmdud donor9 In cash and FrtlANCIAL REVIEW FlnandAI TWIIW Thfj tr￿ (￿ntInue trJ keBp gyp8ndl￿ra undbr tlght control wmst se*ng to M￿mISe inujr ThB day to day ￿￿Ord￿￿3 of uK(vne, tho Invo]dThJ and the rrfymenl of b￿lS 19 carr(ed out on sila by one of the trusteB5 ar￿ all recorrls aro pas￿ io an exlgmal b￿kk￿r who PToaueas th8 monthty management &coJunt5 for the Board. The brxjkkeeper atso p￿p￿re$ Ihe bojks for the year examin81p￿ and prcthdon of acwmt5 In the fomi compar￿ H￿8• ar•J lh• Ccmml88ion. accounts areon the f￿1c￿ng pages. had boan cijnw that tha opythg ofon Indoor skatepwk h the cty centre co￿￿ have a 8eve negavvg impax upon ow usage bLrt we bdieve ihis has not proved the case, peokle freety using b¢th I￿1111￿& We we in li8kwn with the operatlbwJ goup and rektionship8 aTe poshN The skatepwk ￿ weather ￿e￿Ient ￿ause wet ric4n￿ka￿r￿ surfaces ll￿ unsofe. The last wintsr and sprfrg have be8n wet and w numb8r of105t days has bèen thg nlghest of ony yoar ￿nce we open&4. Thls hos r8sulbd In an ovar￿1 kjss for thg year and Ihe Injsiees are rArrentW devel(*ing 8 txJnlkYJw pkn again51 continuinglosses. A stratew to promote addltirnal use and activ￿ rs beino ￿￿￿c￿3. R¢s¢Ne¥ pollcy The charity h88 agrood Reser¥98 Pollw 8nrl ftAlothng tharlty C0mrTUSw￿ TevJnmwdalw$ h8$ aN(Kaled lo the R￿r¥6$ the equNaknt of three op8raUonal o)Bts. Th15 [￿neY Is hdd On an inieresl bearfng one year bond. STrUCTURE. QOVERNANCE AMD MANAGEMENT Qownlng documènt The tharlty Is controlled by its llov¢ming dowwit, a dead of Ovst. and c￿$t1￿j1¢S a Inltod cory8ry. Ifmtt& by quaranlee, a$ defined Ihe Companitrs Act %JO6. THE 801rrHSEA SKATEPARK COMPANY LIMITED REPORT OF THE TRiISTEES FOR THE YEAR ENDED 31 MARCH 2024 Tho ¢hailty Is ¢ontrdled by ts govemlro docun*nt, a deod of twsi and ￿n￿bI￿leS a limiled (￿mp8￿. limitgj by guaTanlg9. as defin8d by ts Conwaniès Aci 2008. Bac r¢und Pol 'ng an LmSUCIX58ful attempt to put the 5kalepath out lo lemler kn 2r￿, Portsmouth city Coundl proFx>•d redudng the opening of the pa￿ to the wmmer month¥ ￿ly. Th15 wa8 vldety 88en by the u8efd and olheTS as a step trwrdrds closure and pn)v¢knS a vac￿er￿LIs campabn of obl8cUon. In T8SPOllSO, th Leader of Iho Cwn¢il ihrew twt a challenge to the paT￿5 5UPPOrters to come ￿ vllh a r20w body to takg OV8r th8 park opwaFkn. A NJfftb8r ol indr¥tOJals tcgethw, reg15tered a5 a not lor pr￿1 compary and wbsequenly as 4 charfty and fjytrdle¢l Ihe tranthr of th? park trJ tho ¢h8rt8ble cc¥npany on 1st 2011. The Souths Skatépawk Company. workthg name sc￿tI￿ Sk8tep8th Tnjst, has a eo year leaso on the park at peppwc£)m rent. Its first fve years d operalton were urKler a formal Agrpwllonl with th? Couniil cOv￿￿j Minim￿ hours of openlro ar#1 variws qualty and safety issues in retum for year on yoar ffjdu(?ng rev¢nue ndlng frun the Ccmmcll. Thls ￿r8e￿wI expl￿1 and the fvn(Nng ceawj on 3181 March 201e 81n￿ tho Trust has be6n wholly 8eW-funding. ltrnent and appoinbm9nt of nowtrustoes oard regularly re¥￿￿5 tho skdl¥ &NJ expwterv>J req￿r￿￿ to operato offKtenty and effthely and has t i) place a proces5 frjr the TecnMtTrnt of a¢Jditbnal In￿tee$. Potentia Irustaes ara raquirod to I￿￿1n• what led they can contiitxrte at on Infomial IntsNl8w wlth the BceTd. A tW5ts8 induc1K￿ pack ha$ b88n produced and trantng 1$ made 8¥apa￿a. Rl¥k anogemgnl The stee8 have a duty lo identify and revlew the rfsks lo the charfty Is oxpo*J Jnd to ensure apprO￿jaIft contrc4s are In place IL) Pr￿￿de reasonthe assurance again# fraud and error. Thg Irusiee¥ havo In lh8 n8c8998ry prJk1é2 and pmcedurag fi)r the operatlon of Ihe 8katepark and tp me81 mcmthty to ovarseg pc41cy and fflnarte matter6. V•fjth the park monager In as the PrOfe￿onal advw. Trder￿e of the parf( Up￿ the w￿r has be￿ id￿rtified as a major tsk b ils long iern t•nabllty and trLth are*￿￿￿9 ￿ ways lo addr855 thi8. REFERÈNCE ANO ADMINi¥fRATIVE IJETAIL5 R•3bSl•r•d Company numb•r 08$7￿16 IEn9larKI ond W*) Reglsl¢red charlty number 1141088 Rtylal•r￿ offlce Sryrth ea Skatapark Ewbn9de P￿ISMO￿th HampBhlre POS 3NZ Pago 4 THE SOUTHSEA SKATEPARK COMPANY LIMITED REpoirroF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ChTlstlne Rlrhard8 Slmn Thlier Edward Sp￿¢*r Paul Gondla Ms Viclorfa Wen Mr Sam Tuffndl Farfd y￿nsh Ir85*ned 30.4.20231 M8rfn 14c*th8m MattTrhYw Charf65 Cole (awointed 18.10.2W231 Chl•f ExerArtiv• Indgpgndont Examlner Pau5 UnderwJunts do not ￿)Mpty wllh the accounling rel￿rements of of Ihe 2L)36 Aci oltw than any le￿￿ment thet Ihg accounts glve a true arKI falr vknlth 18 not 8 matter conshJeTed as part ofan knderArKl8nt axamin8tkJn: or Ihe acc(NJnts have not been prepared In aceordance the mel￿9 8nd prfn¢bpl95 of Slatemgnt cl R￿￿mended Practke fcf acwjnting and r85>orh'ng by thadlles {appllBable to charilies prepwng acrKunts In a¢¢ttthnca wih th? FI￿n&81 Rgptylng Slandard appI￿a￿l8 In th9 UK and Rwubvt of Irdand IFRS 1021 I havè no concems and havB cume no ottrw m8itsFS In C￿ne¢ll0n lh¢ vxwnTnation tv 7Ald¢h AtttnltÈ￿ S￿jk1 ba drnwn In thls rep(rt tn ordor to anab￿ a prO￿r under*nding of the to be fèad)érl. Pa￿ Undernvts d AcC￿ntants St8tk) Housa NoFlh Str801 Havant H￿Ap$h P09 1QU Date: i. Pa￿6 THE SQUTHSEA SKATEPARK COMPANY LIP￿TED srATEMEpifoF FINANCIAL ACTivrriES (INC(XiPORATING AN INCOME AND EXPENDrruRE ACCOUNT) FOR THE YEAR ENDED 31 MARCH W24 2024 Total 2023 T<)ta funds unrest￿ ResIrf￿ed nd fvrkls Ncths INCOME ANO ENDOVIMEKfs FROM Donatlons and18gacles 13,fj69 13.669 22,042 Charltable #dlvttles skatkyJ 73,113 71113 88.885 Othertraolng aGtMlles Imiestmenl Iwxne 5,134 212 5,134 212 6278 165 91128 91128 117,170 EXPENDITURE ON RalslNJ fimd8 Charll•blo adfvltl•s Piding aThJ Charitable actNiti85 95.648 141J39 Total 99￿54 141,339 NEf INCOMEIIEXPEMDrruREI (7,220) 17,228) (24.109) RECONCIUATION OF FUNDS Tot81 fvnd8 brryjght foThv8rd 72,763 72.783 96.932 TOTAL FUNDS CARRIED FORWARD 65.S37 65,537 72,763 The ncl¢s fwn part ofth8s8 fin￿681 Gtsturtenis Pttge 7 THE SOUThSEA SKATEPARK COMPAJ4Y LIMifED BALA14CE SHEET 31 MARCH 2024 2024 2023 FIXED ASSETS Tangible assets Ir￿e￿I￿nts 14 15 2D.631 26,517 20,638 28,524 CURItEiifASS￿S CAsh at bank ￿ In hand 16 &698 47.387 8,650 49,874 56,085 6B,524 CREDITORS Arnwnts tsllng duevllhln on8 y8ar 17 (11.186) (12285) NET CURRENf A8SErs 46.239 TOTIL ASSEfs LESS CURREKr UABILrriES 65,537 72,763 NET ASSETS 6&&97 72.763 FUNDS 19 72,763 TOTAL FUNDS 65.537 72,763 Th9 ch8rtlabl8 ¢XfflP8ny Is entitiad ta 8xernplkn fmm undor SecY(n 4T1 of the &mp8n* Act 2006 for Ihe year 31 WGh 2024. The meFnbws have not r8quw8d th8 ojmpaw lo otrAaln an a￿111 of ffinancid stet¢ments for tho ygar ended 31 Marth %)24 In aecc¢danc6wSih Secth)n 476 Qllhe Cth)Ipante8 kt 2We. Tho trustees ad¢nowl8dge thètr ras￿b]lItieS(Dr la) th8t th8 Charitab￿ company keeps a¢xourting re¢>)rd8 that C4)mply wlth Sectlons 388 ?nd 387 of thè Comp8nle6 Act 21J06 and Ib) p￿parfng finandal statements whkh uive a true and falr vlw rf the state cl affairs ol Ihe Gh•Stsble mp8ny 29 at the eryj of each fmancial ￿ar and of Its wlus or deficit for each fnancial >Ear In accordance wThi the requlr8ments of SeCt[L￿8 394 aTKI 395 and whith othernvise rxjmply wlth Ihe requremenb of the Compani85 Act 2QJ8 reLqtlry lo fin￿￿al *Alemeni8. so far as applicable to the charttabb cc￿￿. Th￿¢ finrtal statem￿ts hava baen pr8parEd In accryd8n¢p whh th• provlth appll¢the to diaEfjtab18 comp8ntes subi8ci io the smdl ogh)¢. cla stalements w8re approved by the Bcard ¢Jf Tnths aryj athryised for 1&8ug ,b¥d* . and were *ned on hs behair ty. ChrfsUn9 F￿thrds- TrLL8t88 The notes farm partofthese ffin￿rA81 st8tanwt8 Pao8 8 THE SOUTHSEA SKATEPARK COMPANY LIMITED NOTES TO THE F]NANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 AC￿UNTING POUCIES Bas18 of preparlng the th18nclal stste7nents The ffinandal statements of the tharftable G￿npany, is e pubk entlly under FRS 102. hava prepared in a¢cord8nc8 wlth tr& Chatitie5 SORP {FRS 11rdi 'Attounlro and Reporbng by charit￿￿ Siatement of Rwtsnm8￿Od Praclce apkltcable lo th8riti8s pr8p8ring th8ir accoLmls in a¢cwd8n¢o vjlth the Finanual Ryrting Stsndard appttcable In Ihe UK ard Republk of Ireland IFRS 1021 l January 20191,, F￿ancIal ￿pOr￿ng Si8nd&rd 102 Yhe Finandal ReportiThJ Stsndard applKable in thg UK and RepUbr￿ of Ireland thè Ccfflpanies 2C(18. The finarrial stalements have teen prepa￿rf under the h1stori￿1 cost coThienlO￿ wilh tho exceptlon ol knvgstments which are InchJded 01 marketydlu The fmanryal stste￿ntS ¢>Jrrtain wifomalion about The $￿sea skalep0￿ Ctxnpgny ￿MiE8d as an IndN4dual compgny and do not Conta￿ ￿lS￿dated ffin8n￿a1 Informalon as Ihe p*ent ol a group. The Cha￿ is exempt und8r 39q2A) of the CornpBnies 2006 from the r8quIr￿￿its to pr8pare consdmjatad fmanrial statsm¥ts. Income Al Ineomé18 rwThsed in the Statemant of Fln8nL*I Acbvi1￿ orTh Ihe Gh&1ty ha# enlttlemenl to Jnds, It18 prob8td6 that the Inc￿ne ￿11 be recqlwj and the am0￿1 be meaSU￿j rellably. Expendilura LLqbllltles ￿ TgcognlseJ as axpendttur8 as soon a6 thgrB Is a legal Dr constrtKtive oLligation ¢ommlUlng Ihe ¢harty to that expendKwe, ￿13 probable th#1 a transfor of beneffts be requlred In 8atdetront and th8 amount of the obligalpm can ￿ measured rellably. Expen0￿re Is 8e4>Junted for on an accruals basb and been dassffjed under headings Ihal aggr¢gth all cost ral8ted to the c818gory. Where ¢os(s cannot be dir* attribu￿5 to pawlculaT hea(lirwJs thw havé b cuted to ac11￿1￿ on a basls ¢￿Ststent￿th the use ofresour W•bsil• eb5ile htsngible fiwl is arr*xtl8ed ¢)¥wfiva yea Tanglbb lkned assots D•pr8clatbn IB Pl￿Aded at the fOlkn￿n9 annu8[ ratsB In (th lo wffte off each asset over its athatgd L*gful I￿. Plgnl and machinwy FFxtwes fitlin95 15% on c05t on red￿ng balance Indvtdual ffxed assets Cost1￿ £100 or nKYe are caEitsfÉsed ot cost. T•xallon The ¢harfty 1$ ¢x¢rwfrom tsx on Its charftsk40 8¢fvttle8. Fut￿ acwuntk Unrestrfcted can be used In armdan¢& wlth the dkarflab￿ ¢)bj&thie8 at the dletyettDn of tho Restrkted fL#iJs can only be used for parueddr restricted purposBs wfthln the objets of tho tharity. Regtrlctk)n5 arise spe(ified by the d(￿Or or ￿then fund5 are rais9d far p8rtlwlar rpstricted Further eypt2rth nf nature Bnd puryjose of each fwd 19 Included In the ￿leY lo the th8ncl81 PanNlon costs and othBr posbrotlremwrt bgnofits The tharity has been allmd &¢853 to the Hamp£htre Cryjftty Cwidl Pen￿l￿ Scheme ft>r th¢ TUPE'd stsff onty. cTr*ribUli￿ payab19 to tr* penslon scheme are tharged to thg Slatement ¢ Finandal Act￿lE1ES In perfod toV￿h they relate. Pag9 B on￿nUed... THE SoirrH5￿ SKATEPARK COMPANY LiIArrED NOTES TO THE FINANCIAL STATEMENTS- ¢ontiThJ FOR THE YEAR ENDED 31 MARCH 2024 AccouKllNG POUaES- conlinu•d Finanwl instrumen1¥ The charity only entfjrs into bas￿ fin8rKial inStrUm￿ts transactW5 (h#i in the recognition of lknanclal asset5 and Ikgbilitias Ilke Irade and other a(wunl$ re￿Vable payable. loans Ir(￿ b￿kS and othér thlrd paths and loan8 to relatsd p8rU&s and Investments in non-wttable ordinary shares. Shryt term debtors Bre measured at transactkm pri￿, Igss any Imp#lrmènt. LoBns racth8trdè gre measufed Inlllauy at faw Y￿u#. nèt of transadlon Co5￿ and are measured subseqLMYy at amortiwl cost ¥Jsng th8effethTg Inieresl rrthd, lass any Iny8lmwnL ¢••h •nd cuh •rylvalwts Cash arKI ¢ash gqUfva￿nts comprise cash at bonk and on hand. depo8W8 wltr banks and other short-term highty Ipli￿d kwostmerts 8nd b￿k ov8rdrafts. In th• balance Shegt, bank overdrnts orè wilhin bOrrO￿r￿J5 or current llatyll￿0 Trad8 and oth•r credito Short temi trth1é cradltors are measured at thg Iransa¢lknn prlce. fln8fKgal Nabllltles. Induthng bank b)an¥, are measured hitiaty al fair Wdlu& n8t ol trans9￿￿ cos18. and Tneasured subserwgnty gt am￿t￿•d *X8t uskn9 the effth Interest Th￿h¢¥j. DONATIONS AND LEGACIES 2024 Donplknns 13.669 OTHER TRADING ACTivrriES 2024 5.134 6.278 INVESTIIENY INCOME 2024 2023 212 All Investmenl IrKr*ne IB dwlve(I Irom assets hBld in the Unl￿￿ JfjrvJdom. Pa￿ 10 continu&%... ThE SOUTHSEA SKATEPARK COMPANY LIMITED NufÉs TO YHE FINANCIAL STATEMENTS - conllnued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARrrABLE ACTivmES 2024 Athty Ridlng and thaling Rldlng and skallng Riding sk£llnJ Il'dlng •nd $kallng Rkllng and *otkng Ccething Equipmant hÈr8 GIR 64.780 1.875 4.977 1,401 80.320 3.070 4,767 73,113 B8,885 RAtSlNG FUNDS othgrtrading a￿1¥ 2024 2023 cH￿rASLE ACTMTIES cosrs SupFQrt costs (sea not6 8) Dtrect Total8 Rid￿9 and skatirffJ 42.063 98,046 SUPPORT COST8 Management Flnance Totsls Rldng and skalng 39.825 42.083 Supwt ¢c*ts. induded in the ab￿, are 89 folk￿&. Manag¢m•nt 2024 Rhthng 2￿23 Total a￿V(￿eS ekaling Wa￿S Sodal sewlty Pgnskin8 Water Insurane hl and heat Telephone Postaga and staknery Sundries Ropdrs renowal Lwir*s Bootheep IT p￿￿O￿ts 0.673 607 6,673 3.873 4.921 1,639 5,476 408 28.940 2,107 1.740 2.391 1.170 1.710 1,431 C8rrf8d S)wrd 29,740 58,732 Page11 THE SOUTHSEA SKATEPARK COMPANY LIMrrED NOTES TO THE FINANCIAL 8TATEMENTS- contlnu•d FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS- ￿ntInUed Manryem•nt. ¢ontlnued 2024 Rlthng and Skatlng 2023 TotAI acllvlues Brought fopmard Tralnlng gnd othqrstaff coyts Event fvndk Payrdl c05t8 AdvartSslng EquirAnent Nre Amortisalion of Inl8nglblè Itxed assots D8pwation of far￿aj￿ aBset8 29.740 77 72 1.600 387 8.724 39.825 70.752 FIr￿￿e 2tr24 RKlng sk81ing 60 870 C48h fwjktsr thwge8 1,411 20Z4 R¥Jing atl acllvlues Indq>8nd8nl eXa￿￿erS NEf INCOMEIIEXPEMDfTURE) Net lnctXT￿[éVndIlUye> ts slat8d aft8rChargWlc￿dlthg1: 2024 2023 Depredauon . 0￿ed asÈsts Website wnortisatic 5,&86 Paga 12 ¢Mtlnu&Y_. THE soiifHSEA SKATEPARK COPAPANY UMITED KOTES TO The FINANCIAL sTATEmEP￿s . continuod FOR THE YEAR ENDED 31 MARCH 2024 10. TRusfEES' REMUNERATION AND BENEFITS There were no tnJste8s' rerrnjnerat1c￿ LY Dlher b￿efits knr th8 year end8d 31 March 2024 nor for the yegrended 31 2023. Trustees. expense Llthng th• yoar no trustees12Q3: rK)ng) wFtg re￿nb￿ oul ofpocket eXp￿lSe¥ (2023.. £nti). 11. STAFF COSTS The average numtw ofemplcryeDB durtrvJ th8 y8arwa8 as fdkyw5: 2024 2023 Avera9enumber olwnF4oyoa No recdvgd emolwnerts In excess of £80,IKIJ. 11 COMPARATIVES FOR THE STATEM￿ OF FifL4NCIAL ACTIVmE8 Unres1￿ct￿l R•Jtricts furvj lulld Total fvnds INCOME AND ENDOWIIENTS FROM Donatkns and W&s 21042 21042 Rlding and skating 88.686 88.$35 Other trading actm Inv88tm￿t Incorn 6,278 6278 165 Tatsl 117.170 117.170 LXPENDrruRE ON Charltable actlvltles Rklltw and skatkng rIt8￿0 &cti￿lIa5 141,339 (3,510) 141,339 3,510 137,829 3.510 141,339 NET INCOMEIIEXPENDrruREI (20,659) (3.S10) 124.169) RECONCILIATION OF FUNDS Totd tund8 brouthtfoTh%*rd 93,422 3.510 96,gT2 TOTAL FUNDS CARAED FORWARD 72,763 72,763 Pago13 THE SOUTHSEA SKATEPARKCOMPANY LIMITED NOTES TOTHE FINANCIAL STAIEMEKfs- contiTruod FOR THE YEAR ENDED 31 MARCH 2024 13. INTANGIBLE FIXED Assyrs At l Akvil 2023 and 31 Marth 2024 1934 AMORTtSATION At 1 April 2023 and 31 MBrth 2024 800K VALUE At 31 M4r¢h 2024 At 31 March 2￿23 14. TANGIBLE FIXED A8SErs Flthre8 ?nd fltungs Planl and mgthinery Tota16 COST At 1 &0ri12023 and 31 Marth 2024 45222 122.574 DEPRECIATION At 1 Aprfl 2023 CIwrgeftyY￿r $5.932 4.070 37,125 1,216 96.057 At31 M8rth 2024 83.W2 3B.341 101.943 NEf B￿K VALUE At 31 Mard12024 13.7￿• 6.881 20.831 At 31 MaTth ￿23 1&420 8,097 26.517 11. FIXED ASSET INVESTMENTS Sharo8 In ur¥JOrta￿￿g$ RKET VALUE 1 Aprl 2023 and 31 Mwch 2024 NEf BOOK VALUE A131 Marth 2024 At 31 M*rth 2023 Al ffix8d asget investr￿ts we inyde thè Unltod lfjngjom. The COMp•￿S at th8 baler￿ sheet date in the share cal￿￿1 ofwmpankrys include th Paq8 14 continu&l,.. THE SOUTHSEA SKATEPARK COMPANY LipirrED NOTES TO THE FINANCIAL STATEMEKfs- ¢ontlnued FOR TrIE YEAR ENDED 31 MARCH 2024 15. FIXED ASSET INVESTMEKfs- conllnued South¥M skat1￿b* fradlng Llmlt•d RegIs1w￿ Sc)uthse8 Sk8tepaFk Clar9r￿ Esp*nade, s￿rthSea, Pcrtsmoulh, Nampstttre. P05 3NZ Naiure ofbu&n8s8'. CAxnmetri81 cyr8Jon ofthe Skatw% Shc¥J ct8S8 of *ore: (￿Inary£l share8 holding 100 21r24 31.323 Agg￿al8 capltd and r8serves Profft for th8 year 7.174 7,174 4,181 16. DEBTORS: APIQUNTS FALLING DUE wmiiN ONE YEAR 21r24 2023 Trndo d8blorn 1,￿8 6,￿0 130 7.730 130 Prepayments accrL*d incom8 17. CREIXTORS.. AMOUNTS FALUNG DUE wrrHIM ONE YEAR 2024 2023 8.162 831 SoLYal sawrfty arvj Lrthw1ax8s 11.188 12285 ANALYSIS OF NEf ￿$SETs BEIWEEN F(R4DS 2023 Totsl fund¥ ftjfid fvndg Fixad ass8ts Investments Current a88ets Currnrt Il•btllll8s 20.631 20.631 26.517 56,085 <11,1861 66.U85 {11.186) 58.524 {12,2851 65,537 65.537 71763 Pago15 c4Jntknued... THE scxrrHSEA SKATEPARK COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDEO 31 MARCH 2024 MOVEMENT IN FUt4DS m(N¢mgnt In fund8 At 1.423 31.3.24 Unr•¥trkted funds Ggwal fund 72,783 (72281 65,S87 TOTAL FUNDS 72,763 (7226) 85.537 Net mov￿1 in (L￿￿* Ind￿ed in ts abm 8re 88 fc Inr1Jrntr￿ Reswrces Mo¥￿t Unrnstricled fund¥ Genwol fund 92,128 199.354) (7.1261 TOTAL FUNDS 92.128 199.354) ri,226) compar￿¥0$ for movemnl in fund8 Net At 1.422 in furKIs 31.3.23 iknrnstrlctad fu Ger￿￿ fund (20.6591 72.763 Re9￿Cted fvnde 9rant for roof 3.510 {3.5101 TOTAL FUNDS 96832 (24.189) 72.763 Compafvthve nel movement in funlys, hJud8d kn Ihe above as fdlovvJ: InEumlng ResrLJrces MDvem8nl i) fvnds Untestrkt8d fvnds Generdl IL 117.170 {137,829) (20,659) R•stri¢t•d furxls Rovenue grant fN to(rf {3.540) (3,510) TOTAL FUNDS 117.170 (141,3391 (24.169) Thg raVenl￿ grart f(* the roof Is a gFant provkled to pay kn arch￿O¢tural f895 in rey¢t of the roof pro1￿t. Pa•3 10 t￿ntinu￿1... THE SOUTHSEA SKATEPARK COFAPANY uMrrED NOTES TOTHE FINANCIAL sfATEMENTS- ¢onllnuod FOR THE YEAR ENDED 31 MARCH 2024 RELATED PAIUY DISCLOS(RES Durfng the ￿r The SoLthyea Sk8tep8rk C