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← Aspire@southfields

2025-03-31-accounts

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

REGISTERED COMPANY NUMBER: 08068707 (England and Wales) REGISTERED CHARITY NUMBER: 1149367

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

ASPIRE@SOUTHFIELDS

Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Cash Flow Statement 8
Notes to the Cash Flow Statement 9
Notes to the Financial Statements 10 to 14
Detailed Statement of Financial Activities 15

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

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

Objectives and Activities

As a charitable limited company, we have remained committed to providing a wide array of leisure activities while simultaneously investing in the growth and empowerment of our younger generations.

At Aspire@Southfields, our diverse range of leisure activities includes pilates, archery, yoga, HIIT classes for adults, and swimming lessons are designed to cater to the varied interests and needs of our community members, ensuring that there is something for everyone to enjoy. Additionally we offer discounted sessions to families who want to come and swim at our centre.

One of the key partnerships that we are proud to maintain is with Southfields Academy. Through this collaboration, we have established initiatives aimed at engaging and supporting young people in their personal and professional development. Specifically, we have provided opportunities for sixth formers from the academy to gain valuable work experience at Aspire@Southfields. Additionally, our training program help these students obtain lifeguard qualifications, thereby equipping them with essential skills and expanding their future prospects.

We are now focus in develop this young workforce, so we are working in develop more training in office tools, customers service and other subjects that will enhance our staff's skills as well our customer experience at Aspire.

By actively involving young people from Southfields Academy, we not only contribute to their individual growth but also foster a sense of community and collaboration between our organizations. Moreover, these initiatives align with our broader mission of promoting health, well-being, and inclusivity within the community.

Public benefit

In shaping our objectives and planning our activities for the year, the Trustees have given consideration to the duties set out in section 17(5) of the Charities Act 2011 to have due regard to public benefit. In particular, the Trustees have considered how the planned activities will contribute to the overall aims and objectives that they have set.

STRATEGIC REPORT

Financial Review

Unrestricted funds are the funds freely available for use in the furtherance of the objectives of the Charity. The net movement on unrestricted funds for the period was a loss of £45,334 (2023: loss £20,870).

Details of movements on the Statement of Financial Activities are set out on page 6 of the financial statements.

Plans for the Future & Reserves Policy

Looking ahead, Aspire remains committed to enhancing and expanding its service provision in order to achieve its charitable objectives. To this end, the organization strives to maintain a level of self-sufficiency in order to avoid reliance on a single source of funding.

As part of this strategy, Aspire's policy is to maintain unrestricted funds, or free reserves, at a level that provides sufficient resources to cover the costs of management, administration, and support. The ultimate goal is to achieve a level of reserves that enables the organization to achieve its long-term objectives.

Page 1

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRATEGIC REPORT Financial review Board of Trustees' Responsibilities

The Trustees, who are also directors of aspire@southfields for the purposes of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

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

Small Company Exemptions

The above report has been prepared in accordance with the special provisions of Section 419(2) of the Companies Act 2006 relating to small companies.

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 Charity was incorporated, as a company limited by guarantee, on 15 May 2012 and was registered as a Charity on 17 October 2012. The governing document is the Articles and Memorandum of Association.

Appointment of trustees

New Trustees join the Board at the invitation of the Board for a period of three years and are chosen with the view to ensuring that the Board contains an appropriate balance of experience relevant to the operations of aspire@southfields. Trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the decision making processes, the business plan, policies and financial procedures and the recent financial performance of the charity.

Organisation

The activities of the charity are advised and monitored by the Board of Trustees who meets regularly to set the strategic direction of the organisation and for establishing policy. They also ensure that the charity fulfils its objectives and complies with the requirements of the Charities Commission.

The day-to day management of the charity is delegated by the Board of Trustees to the CEO Jacqueline Valin who attends Trustees' meetings to update the Trustees on developments and issues and to obtain instruction on the management of the charity.

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Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Health & Safety at Work

The charity is always concerned to ensure health and safety at work and within its services, to this end it has adopted the relevant policies of Southfields Academy which are reviewed and updated regularly.

Risk management

The board of Trustees have ensured that the charity's risk management is covered by the wider Southfields Academy risk management regime.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

08068707 (England and Wales)

Registered Charity number

1149367

Registered office

Southfields Academy 333 Merton Road London SW18 5JU

Trustees

Wanda Golinska Stephen Philip Elson (resigned 24/10/2024) David Holt Tracy Gray Director (appointed 11/11/2024)

Independent Examiner

Dr Shona F Wardrop C.A Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA

Bankers

Lloyds TSB 30-34 Moorgate The City London EC2R 6PL

Aspire CEO

Jacqueline Valin

Aspire Centre Manager

Damian Jakubiec (resigned on 08/01/2025)

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Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 3/31/2026

Signed by: ........................................................................ [te16BC4693567540E... Wanda Eolinska Wanda Golinska - Trustee

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Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ASPIRE@SOUTHFIELDS

Independent examiner's report to the trustees of Aspire@Southfields ('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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies.

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.

Dr Shona F Wardrop C.A The Institute of Chartered Accountants of Scotland

Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA 3/31/2026 Date: .............................................

Page 5

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

2025
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Other income
483,270
EXPENDITURE ON
Charitable activities
2
Charitable Activities
528,604
NET INCOME/(EXPENDITURE)
(45,334)
RECONCILIATION OF FUNDS
Total funds brought forward
189,890
TOTAL FUNDS CARRIED FORWARD
144,556		 2024
Total
funds
£
432,243
452,613
(20,370)
210,260
189,890

The notes form part of these financial statements

Page 6

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

BALANCE SHEET 31 MARCH 2025

2025 2024
Unrestricted Total
fund funds
Notes £ £
CURRENT ASSETS
Debtors 8 61,734 100,396
Cash at bank and in hand 173,060 152,126
234,794 252,522
CREDITORS
Amounts falling due within one year 9 (90,238) (62,632)
NET CURRENT ASSETS 144,556 189,890
TOTAL ASSETS LESS CURRENT
LIABILITIES 144,556 189,890
NET ASSETS 144,556 189,890
FUNDS 10
Unrestricted funds 144,556 189,890
TOTAL FUNDS 144,556 189,890

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

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 3/31/2026

Signed by: ............................................. [te16BC4693567540E... Wanda Eolinska Wanda Golinska - Trustee

The notes form part of these financial statements

Page 7

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
20,934
20,934
20,934
152,126
173,060		 2024
£
38,904
38,904
38,904
113,222
152,126

The notes form part of these financial statements

Page 8

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES
Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Decrease in debtors
Increase in creditors
Net cash provided by operations		 2025
£
(45,334)
38,662
27,606
20,934		 2024
£
(20,370)
33,583
25,691
38,904

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24 Cash flow At 31/3/25
£ £ £
Net cash
Cash at bank and in hand 152,126 20,934 173,060
152,126 20,934 173,060
Total 152,126 20,934 173,060

The notes form part of these financial statements

Page 9

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

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 FRS102, have been prepared in accordance with the Charities SORP (FRS102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts with the Financial Reporting Standard in the UK and Republic of Ireland (FRS102) (effective 1 January 2019)', Financial Reporting Standard FRS102 '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.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and on that basis the charity is considered to be a going concern.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the trust's accounting policies the trustees are required to make judgements, estimates, and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Incoming resources

Donations and Grants

Income from donations, and grants, is included in incoming resources when these are receivable, except as follows:

When donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

Fees

Fee income for use of community leisure facilities is included in incoming resources when the service has been provided, or, if amounts invoiced relate to services both before and after the period end, then in proportion to services provided, with the balance being deferred.

Other Income

Other income is recognised in the period in which the Charity is entitled to the receipt and the amount can be measured with reasonable certainty. Income is deferred only when the Charity has to fulfil conditions before becoming entitled to it, or where the donor has specified that the income is to be treated as the funding of a future period.

continued...

Page 10

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

Resources expended and basis of allocation of costs

All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for such expenditure. Direct costs incurred in connection with a particular project or event, are allocated to that project or event in the year they are incurred. Resources expended include attributable VAT which cannot be recovered.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Accordingly the charity is exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Unrestricted funds

Unrestricted funds are funds available for charitable purposes within the objectives of the Charity that have no conditions imposed by the donor or by the terms of an appeal.

Restricted funds

Restricted funds are funds subject to specific conditions imposed by the donor or by the terms of an appeal, these conditions being binding upon the Trustees.

Tangible fixed assets and depreciation

The Charity has a minimum value for capitalisation of assets of £10,000.

Financial instruments

The trust has only financial assets and liabilities of a kind that qualify as basic financial instructions in line with Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instrument Issues". Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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 discounts due.

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.

continued...

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Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

2. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
Charitable Activities 528,604

3. 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

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

4. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2025
£
281,652
9,073
4,352
295,077		 2024
£
276,826
6,825
3,339
286,990

The total remuneration paid to Key Management Personnel, who are considered to be the leadership team, during the year was £73,267 (2024; £84,731).

The average monthly number of employees during the year was as follows:

2025 2024
25 30

No employees received emoluments in excess of £60,000.

5. SHARE CAPITAL

As the Charity is limited by guarantee, there is no share capital. At 31 March 2025 each member has undertaken to contribute to the Charity's assets, in the event of the Charity being wound up, such amount as may be required, not exceeding £1.

continued...

Page 12

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

6. COMMITMENTS

The Charity has entered into a tenancy agreement with Southfield Academy to rent premises at an annual rent of £112,200. The agreement runs from 1 September 2017 to 31 August 2099.

7. CONTROL

The company was controlled throughout the current period by its Trustees by virtue of the fact that each Trustee has a vote at meetings of the Trustees.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Accrued income
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
10.
MOVEMENT IN FUNDS
At 1/4/24
£
Unrestricted funds
General fund
189,890
TOTAL FUNDS
189,890
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
483,270
TOTAL FUNDS
483,270

continued...

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Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1/4/23
£
Unrestricted funds
General fund
210,260
TOTAL FUNDS
210,260
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
432,243
TOTAL FUNDS
432,243		 Net
movement
At
in funds
31/3/24
£
£
(20,370)
189,890
(20,370)
189,890
Resources
Movement
expended
in funds
£
£
(452,613)
(20,370)
(452,613)
(20,370)

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

Page 14

Docusign Envelope ID: 420E9308-37DB-4C90-AD65-D82DC9281369

ASPIRE@SOUTHFIELDS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

INCOME AND ENDOWMENTS
Other income
Fees
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Postage and stationery
Advertising
Sundries
Tutors Fees
Purchases and equipment
Rent
Travelling
Administration Fees
Bank Charges
Accountancy Fees
Cleaning
Training
Clothing costs
Salaries Aspire SA recharge
Team Building
Bad Debt
Premises overtime recharge
Total resources expended
Net expenditure		 2025
£
483,270
483,270
281,652
9,073
4,352
82
235
384
6,648
11,505
115,468
11
10,544
8,069
9,149
25
731
68
48,318
367
2,060
19,863
528,604
528,604
(45,334)		 2024
£
432,243
432,243
276,826
6,825
3,339
-
-
-
5,200
3,902
128,894
-
11,299
8,760
5,484
-
-
2,084
-
-
-
-
452,613
452,613
(20,370)

This page does not form part of the statutory financial statements

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