**REGISTERED COMPANY NUMBER: 06679416 (England and Wales) REGISTERED CHARITY NUMBER: 1141066** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **FOR** **THE SOUTHSEA SKATEPARK COMPANY LIMITED** **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ||**Page**| |---|---| |**Report of the Trustees**|1 to 5| |**Independent Examiner's Report**|6| |**Statement of Financial Activities**|7| |**Balance Sheet**|8 to 9| |**Notes to the Financial Statements**|10 to 19| ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Public benefit** The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. The trustees refer to public benefit throughout this report. Page 1 ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** ## **ACHIEVEMENTS AND PERFORMANCE** ## **Charitable activities** Opening hours and user numbers: in this, its fourteenth year of operation, the charity was able to sustain the regular number of sessions for the year and to organise a programme of events which generate additional income for the Skatepark as well as being popular with users and visitors. Safety: the regular inspections of the park and equipment were continued and ongoing ramp maintenance and other repairs carried out. The annual ROSPA safety inspection was commissioned and the report again praised the park operators for their continuous improvements. Users: the majority of users continued to be aged under 16 while the proportion of over 16 users has is currently 15%. The extended sessions - Bike Night on Wednesdays and Skate Night on Thursdays - plus stronger links with the local roller skating community have contributed to this. The space made available by the removal of the Vert ramp has recently been set up as an area to attract skateboarders. The special sessions for under 12 year olds only (to encourage the new generation of young riders) continued on Saturday and Sunday mornings all year round (weather permitting). We also continue to welcome groups such as Young Carers and disability groups for special / supported sessions. Events: we ceased to run roller discos through the summer months as numbers had declined, largely because of competition from the new Undercover Skatepark in the town centre. We continued to organise a number of special events including King of Concrete, scooter jams in partnership with Chilli Scooters and various special events such as a birthday bash and Halloween and Christmas specials. We were again included within the Victorious Festival area for the three days of the August bank holiday weekend. This gives people an opportunity to take part in short roller disco sessions, have a go at various sports and watch the park display team perform. Coaching: in small groups ran throughout the drier months and the coaching vouchers were still popular as birthday and Christmas gifts. Out of Hours usage: the out-of-hours use of the park for children's parties and group hires reduced significantly this year again because of competition from the Undercover Skatepark which can guarantee to be open whatever the weather. Equipment for hire: we increased the number of BMX bikes to our equipment available for hire in addition to the helmets, skateboards, skates and these all provide an opportunity for beginners. Publicity and promotion: our website, facebook and Instagram pages were kept up to date, enabling staff to give users regular information on opening days and times and information on forthcoming events. Rained-off tickets: the park is unsafe to ride or skate when wet; if rain starts during a session and the park has to close, users are given a 'rained-off ticket' which gives them entry to a future session at a reduced cost. We maintained this concession during the year. The Café: which runs under a licence agreement by independent operators changed provider in the middle of the year. The new operator has refurbished the café unit and revamped the menu, with an emphasis on healthy eating and the use of recyclable materials. The Shop: our wholly owned trading company operates the Skatepark shop and all trading profits are transferred to the charity to support the running of the skatepark. We sell bikes, spares, skates, boards, scooters, helmets and clothing, including our own brand items. The shop turnover has reduced this year, we believe because people - especially parents - have less money to spend. Photoshoots: the park continued to be available during the year as a venue for photoshoots by skateboarders, BMX riders and others, student film makers and young fashion designers. Page 2 ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** ## **Staffing** There was some turnover of staff during the year, mainly as student members finished their courses at the university. The charity continued to ensure that all staff are first aid trained and DBS checked at enhanced level. ## **Future plans** Roof project - following the earlier rejection by the Planning department of the submitted plans to roof over the rink area, which would enable opening in wet weather and to provide new indoor space for education and activity rooms, a revised set of drawings were developed for re-submission to the local authority for pre-planning advice. The completed plans have been made available for public comment and the planning application submission will be made shortly. ## **Appreciation and thanks** This Annual Report gives the Board an opportunity to offer public thanks to the many people who have supported their work to date. Special thanks go to the following: - The band of volunteers who work on the ramp repair and maintenance and help out at events - Ashford Press for the printing of posters and vouchers - Portsmouth City Council for their funding support for the roof plans - Jay Ricketts of JLR Services for the provision of skips to remove gash wood from ramp repairs - Individual donors in cash and kind ## **FINANCIAL REVIEW** ## **Financial review** The trustees continue to keep expenditure under tight control whilst seeking to maximise income. The day to day recording of income, the invoicing and the payment of bills is carried out on site by one of the trustees and all records are passed to an external bookkeeper who produces the monthly management accounts for the Board. The bookkeeper also prepares the books for the year end examination and production of accounts in the form required by Companies House and the Charity Commission. These accounts are on the following pages. The skatepark is weather dependent because wet riding/skating surfaces are unsafe. The last two winters have been very wet and our number of lost days has been the highest of any year since we opened. This has resulted in an overall loss for the year and the trustees are currently developing a contingency plan against continuing losses. A strategy to promote additional use and activities plus sponsorship is being developed. ## **Reserves policy** The charity has an agreed Reserves Policy and following Charity Commission recommendations has allocated to the Reserves the equivalent of three months operational costs. Page 3 ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Board are currently actively recruiting additional trustees to strengthen the skills and experience available. ## **Background** Following an unsuccessful attempt to put the skatepark out to tender in 2005/06, Portsmouth City Council proposed reducing the opening of the park to the summer months only. This was widely seen by the users and others as a step towards closure and provoked a vociferous campaign of objection. In response, the Leader of the Council threw out a challenge to the park's supporters to come up with a new body to take over the park operation. A number of individuals came together, registered as a not-for-profit company and subsequently as a charity and negotiated the transfer of the park to the new charitable company on 1st April 2011. The Southsea Skatepark Company, working name Southsea Skatepark Trust, has a 60 year lease on the park at a peppercorn rent. Its first five years of operation were under a formal Agreement with the Council covering minimum hours of opening and various quality and safety issues in return for year on year reducing revenue funding from the Council. This Agreement expired and the funding ceased on 31st March 2016 since when the Trust has been wholly self-funding. ## **Recruitment and appointment of new trustees** The Board regularly reviews the skills and experience required to operate efficiently and effectively and has put in place a process for the recruitment of additional trustees. Potential trustees are required to outline what they feel they can contribute at an informal interview with the Board. A trustee induction pack has been produced and training is made available. ## **Induction and training of new trustees** Potential trustees are asked to provide information on why they wish to become a trustee and what they feel they can bring to the Trust. They attend an interview with one or more trustees at which this is explored and at which they can ask any questions. If they are still interested and are deemed suitable they are given a Trustee Induction pack which outlines the responsibilities of trustees, a history of the park , copies of the constitution for the charity and the trading company. They are then invited to a Board meeting, after which their recruitment is confirmed. ## **Related parties** Southsea Skatepark Trading Ltd is the Trust's trading arm. The charity trustees are ex-officio the directors of the trading company and were the shareholders, shares being held in trust. On the advice of our accountants, the charity - as an incorporated body - was later made the shareholder. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have in place the necessary policies and procedures for the operation of the skatepark and they meet monthly to oversee policy and finance matters, with the park manager in attendance as the professional advisor. The dependence of the park upon the weather has been identified as a major risk to its long term sustainability and trustees are working on ways to address this. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 06679416 (England and Wales) ## **Registered Charity number** 1141066 Page 4 ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** **Registered office** Southsea Skatepark Clarence Esplanade Southsea Portsmouth Hampshire PO5 3NZ ## **Trustees** Christine Richards Simon Tiller (resigned 31.1.2025) Edward Spencer (resigned 30.12.2024) Paul Gonella Ms Victoria Wenyon Mr Sam Tuffnell (resigned 1.4.2025) Martin Northern (resigned 16.12.2024) Matthew Charles Cole Mr Samuel Dennis (appointed 23.6.2025) ## **Independent Examiner** Paul Underwood Morris Crocker Chartered Accountants Station House North Street Havant Hampshire PO9 1QU ## **Bankers** The Co-operative Bank plc 1 Balloon Street Manchester M60 4EP Approved by order of the board of trustees on ............................................. and signed on its behalf by: ................................................................. Christine Richards - Trustee Page 5 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **Independent examiner's report to the trustees of The Southsea Skatepark Company Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. ## **Responsibilities and basis of report** As the charity's trustees of the Company (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 Company 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of 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 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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. Paul Underwood Morris Crocker Chartered Accountants Station House North Street Havant Hampshire PO9 1QU Date: ............................................. Page 6 ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
11,000
**Charitable activities**
5
Riding and skating
72,600
Other trading activities
3
7,871
Investment income
4
209
**Total**
91,680
**EXPENDITURE ON**
Raising funds
6
-
**Charitable activities**
7
Riding and skating
111,279
**Total**
111,279
**NET INCOME/(EXPENDITURE)**
(19,599)
**RECONCILIATION OF FUNDS**
Total funds brought forward
65,537
**TOTAL FUNDS CARRIED FORWARD**
45,938|Restricted
funds
£
36,000
-
-
-
36,000
-
10,224
10,224
25,776
-
25,776|2025
Total
funds
£
47,000
72,600
7,871
209
127,680
-
121,503
121,503
6,177
65,537
71,714|2024
Total
funds
£
13,669
73,113
5,134
212
92,128
708
98,646
99,354
(7,226)
72,763
65,537| |---|---|---|---| The notes form part of these financial statements Page 7 ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **BALANCE SHEET 31 MARCH 2025** |Notes
**FIXED ASSETS**
Tangible assets
14
Investments
15
**CURRENT ASSETS**
Debtors
16
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
17
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
19
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2025
£
15,791
7
15,798
6,760
64,958
71,718
(15,802)
55,916
71,714
71,714
45,938
25,776
71,714|2024
£
20,631
7
20,638
6,439
47,387
53,826
(8,927)
44,899
65,537
65,537
65,537
-
65,537| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 8 continued... ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **BALANCE SHEET - continued 31 MARCH 2025** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. Christine Richards - Trustee The notes form part of these financial statements Page 9 **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. ## **Going concern** The trustees consider that there are no material uncertainties regarding the charitable company's ability to continue as a going concern. ## **Limited by guarantee** The company is a charitable company limited by guarantee and is exempt from using "Limited" in its name under Section 60 of the Companies Act 2006. It has no share capital, and each member's liability is limited to £1. ## **Preparation of consolidated financial statements** The financial statements contain information about The Southsea Skatepark Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Website** Website intangible fixed asset is amortised over five years. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery - 15% on cost Fixtures and fittings - 15% on reducing balance Individual fixed assets costing £100 or more are capitalised at cost. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Page 10 continued... **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **1. ACCOUNTING POLICIES - continued** ## **Fund accounting** Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charity has been allowed access to the Hampshire County Council Pension Scheme for the TUPE'd staff only. Contributions payable to the pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Financial instruments** The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares. ## **Trade and other debtors** Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities. ## **Trade and other creditors** Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. ## **2. DONATIONS AND LEGACIES** |Donations
Grants
Grants received, included in the above, are as follows:
Roof project|2025
£
11,000
36,000
47,000
2025
£
36,000|2024
£
13,669
-
13,669
2024
£
-| |---|---|---| Page 11 continued... ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** |**3.**
**OTHER TRADING ACTIVITIES**
Shop income
Café rent and service charges
**4.**
**INVESTMENT INCOME**
Deposit account interest
All investment income is derived from assets held in the United Kingdom.
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Riding and skating
Riding and skating
Coaching
Riding and skating
Equipment hire
Riding and skating
Gift aid
Riding and skating
**6.**
**RAISING FUNDS**
**Other trading activities**
Bad debts
**7.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs
£
Riding and skating
64,902|2025
£
3,214
4,657
7,871
2025
£
209
2025
£
67,760
1,135
2,445
1,260
72,600
2025
£
-
Support
costs (see
note 8)
£
56,601|2024
£
-
5,134
5,134
2024
£
212
2024
£
64,780
1,875
4,977
1,481
73,113
2024
£
708
Totals
£
121,503| |---|---|---| Page 12 continued... ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **8. SUPPORT COSTS** |Management
£
Riding and skating
54,107
Support costs, included in the above, are as follows:
**Management**
Wages
Social security
Pensions
Water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Repairs and renewal
Licences
Bookkeeping
IT provisions
Cleaning
Training and other staff costs
Event funding
Payroll costs
Equipment hire
Depreciation of tangible assets
**Finance**
Bank charges
Cash register charges|Governance
Finance
costs
£
£
1,138
1,356
2025
Riding
and
skating
£
6,673
607
1,495
534
3,226
3,676
1,398
17
390
18,876
1,927
2,451
1,144
2,023
1,018
227
1,185
2,400
4,840
54,107
2025
Riding
and
skating
£
51
1,087
1,138|Totals
£
56,601
2024
Total
activities
£
6,673
607
1,495
462
3,873
4,921
1,639
6
203
2,850
1,740
2,391
1,170
1,710
842
77
881
2,400
5,885
39,825
2024
Total
activities
£
60
870
930| |---|---|---| Page 13 continued... **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **8. SUPPORT COSTS - continued Governance costs** ## **9.** **----- Start of picture text -----**
|||| |---|---|---| |2025|2024| |Riding| |and|Total| |skating|activities| |£|£| |Independent examiner's fees|1,356|1,308| |NET INCOME/(EXPENDITURE)| |Net income/(expenditure) is stated after charging/(crediting):| |2025|2024| |£|£| |Depreciation - owned assets|4,840|5,886| **----- End of picture text -----**
## **10. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. ## **Trustees' expenses** During the year no trustees (2024: nil) were reimbursed out of pocket expenses (2024: £nil). ## **11. STAFF COSTS** The average monthly number of employees during the year was as follows: **----- Start of picture text -----**
|||| |---|---|---| |2025|2024| |Average number of employees|8|8| **----- End of picture text -----**
No employees received emoluments in excess of £60,000. **----- Start of picture text -----**
||||| |---|---|---|---| |12.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES| |Unrestricted|Restricted|Total| |fund|funds|funds| |£|£|£| |INCOME AND ENDOWMENTS FROM| |-| |Donations and legacies|13,669|13,669| |Charitable activities| |-| |Riding and skating|73,113|73,113| |-| |Other trading activities|5,134|5,134| |Investment income|212|-|212| |Total|92,128|-|92,128| |EXPENDITURE ON| |Raising funds|708|-|708| **----- End of picture text -----**
Page 14 continued... ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** |**12.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -**|**continued**|**continued**|| |---|---|---|---|---|---| |||Unrestricted|Restricted||Total| |||fund|funds||funds| |||£|£||£| ||**Charitable activities**||||| ||Riding and skating|98,646||-|98,646| ||**Total**|99,354||-|99,354| ||**NET INCOME/(EXPENDITURE)**|(7,226)||-|(7,226)| ||**RECONCILIATION OF FUNDS**||||| ||Total funds brought forward|72,763||-|72,763| ||**TOTAL FUNDS CARRIED FORWARD**|65,537||-|65,537| |**13.**|**INTANGIBLE FIXED ASSETS**||||| ||**COST**||||Website
£| ||At 1 April 2024 and 31 March 2025||||1,934| ||**AMORTISATION**||||| ||At 1 April 2024 and 31 March 2025||||1,934| ||**NET BOOK VALUE**||||| ||At 31 March 2025||||-| ||At 31 March 2024||||-| |**14.**|**TANGIBLE FIXED ASSETS**||||| ||**COST**|Plant and
machinery
£|Fixtures
and
fittings
£||Totals
£| ||At 1 April 2024 and 31 March 2025|77,352|45,222||122,574| ||**DEPRECIATION**||||| ||At 1 April 2024|63,602|38,341||101,943| ||Charge for year|3,807|1,033||4,840| ||At 31 March 2025|67,409|39,374||106,783| ||**NET BOOK VALUE**||||| ||At 31 March 2025|9,943|5,848||15,791| ||At 31 March 2024|13,750|6,881||20,631| ||||||| Page 15 continued... ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **15. FIXED ASSET INVESTMENTS** |**FIXED ASSET INVESTMENTS**|| |---|---| ||Shares in| ||group| ||undertaking| ||£| |**MARKET VALUE**|| |At 1 April 2024 and 31 March 2025|7| |**NET BOOK VALUE**|| |At 31 March 2025|7| |At 31 March 2024|7| All fixed asset investments are held inside the United Kingdom. The company's investments at the balance sheet date in the share capital of companies include the following: ## **Southsea Skatepark Trading Limited** Registered office: Southsea Skatepark Clarence Esplanade, Southsea, Portsmouth, Hampshire, PO5 3NZ Nature of business: Commercial operation of the Skatepark Shop |%
Class of share:
holding
Ordinary £1 shares
100
Aggregate capital and reserves
Profit for the year
**16.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income|2025
£
7,174
4,543
2025
£
1,220
5,410
130
6,760|2024
£
7,174
6,230
2024
£
1,608
4,701
130
6,439| |---|---|---| Page 16 continued... ## **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
**18.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
Restricted
fund
funds
£
£
Fixed assets
15,791
-
Investments
7
-
Current assets
45,942
25,776
Current liabilities
(15,802)
-
45,938
25,776
**19.**
**MOVEMENT IN FUNDS**
At 1.4.24
£
**Unrestricted funds**
General fund
65,537
**Restricted funds**
Revenue grant for roof
-
**TOTAL FUNDS**
65,537
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
91,680
**Restricted funds**
Revenue grant for roof
36,000
**TOTAL FUNDS**
127,680|2025
2024
£
£
11,700
4,961
654
586
7
7
3,441
3,373
15,802
8,927
2025
2024
Total
Total
funds
funds
£
£
15,791
20,631
7
7
71,718
53,826
(15,802)
(8,927)
71,714
65,537
Net
movement
At
in funds
31.3.25
£
£
(19,599)
45,938
25,776
25,776
6,177
71,714
Resources
Movement
expended
in funds
£
£
(111,279)
(19,599)
(10,224)
25,776
(121,503)
6,177| |---|---| Page 17 continued... **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **19. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |||Net|| |---|---|---|---| |||movement|At| ||At 1.4.23|in funds|31.3.24| ||£|£|£| |**Unrestricted funds**|||| |General fund|72,763|(7,226)|65,537| |**TOTAL FUNDS**|72,763|(7,226)|65,537| |Comparative net movement in funds, included in the above are as follows:|||| |**Unrestricted funds**|Incoming
resources
£|Resources
expended
£|Movement
in funds
£| |General fund|92,128|(99,354)|(7,226)| |**TOTAL FUNDS**|92,128|(99,354)|(7,226)| The revenue grant for the roof is a grant provided to pay for architectural fees in respect of the roof project. ## **20. RELATED PARTY DISCLOSURES** During the year The Southsea Skatepark Company Limited has the following transactions with Southsea Skatepark Trading Ltd, a 100% owned subsidiary undertaking of the charity. The shares of Southsea Skatepark Trading Ltd are owned by the trustees and held in trust for the benefit of the charity. **----- Start of picture text -----**
2025 2024
£ £
Recharges to the subsidiary 6,258 7,588
Profit share from the subsidiary 4,543 6,230
**----- End of picture text -----**
At the balance sheet date the following balances were outstanding between the charitable company and Southsea Skatepark Trading Ltd. |and Southsea Skatepark Trading Ltd.||| |---|---|---| ||2025|2024| |Debtors|£
5,410|£
4,701| |||| Page 18 continued... **THE SOUTHSEA SKATEPARK COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **21. ULTIMATE CONTROLLING PARTY** The charitable company is not under the control of another entity or any one individual. Page 19