Wensum Sports Centre Charitable Association
Wensum Sports Centre Charitable Association Report and Accounts for the Year Ended 31[st] March 2023
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Wensum Sports Centre Charitable Association
Trustees Report for the Year Ended 31 March 2023
CHARITY NUMBER 1150110 TRUSTEES
TRUSTEES Doug Poynton William Glover Graham Long Lesley Grahame OPERATIONAL ADDRESS 169 King St Norwich NR1 1QW ACCOUNTANTS: David Higenbottam, ACMA 50 Neville Rd Norwich Norfolk NR7 8DY BANK Lloyds 16 Gentlemans Walk Norwich NR2 1LZ
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Wensum Sports Centre Charitable Association
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is an association governed by a constitution and was registered with the Charity Commission on 10[th] December 2012. The trustees were appointed by a general meeting held in November 2012.
OBJECTIVES AND ACTIVITIES
To advance education and promote recreation and leisure activities through the provision of a sports and leisure centre for use by clubs, associations and individuals. The charity runs a sports centre which incorporates a sports hall, two squash courts and a multi-purpose community area. Various activities are promoted including squash , badminton, football, handball ,short tennis ,table tennis, short matt bowls, dance, art workshop and many other community activities.
The trustees have considered the Charity Commissions guidance on public benefit. They confirm that in planning and carrying out the Trusts activities they have had regard to this guidance,
ACHIEVEMENTS AND PERFORMANCE
For the year ended 31[st] March 2023 the charity recorded a small loss before depreciation of £2,568. This was after incurring costs of £12,665 for ongoing repairs and renewals to improve facilities for members and capitalised expenses of £3,237 on equipment. Income was significantly up on last year thanks to ongoing efforts to encourage use of the Charity`s facilities but this was offset to an extent by increased salary costs and of course the large increase in utility charges.
As advised previously a trading subsidiary of the charity has been created in the form of a limited company to handle income from car parking. This company donated £24,282 to the charity during the course of the year.
The last year has seen the continuation of growth and demand as experienced at the end of the COVID period and in spite of the rise in the cost of living generally. This has proven that people need to escape those financial pressures in order to follow their own goals and wellbeing. The continued support from the local community has allowed the trustees to proceed with much needed projects of renovation. As grant funding reduces, self-funding has become the only option to support these projects. When these remedial works are carried out there will be some loss of revenue-however with these projects the future of the Centre can be assured for many years to come. A new management structure has also made a valued contribution to the smooth running of the Centre. The year ended with a complimentary editorial in the local press praising the charity for its support to the community.
Finally I would like to thank our staff and volunteers for all their hard work over the year.
RESERVES POLICY
The trustees have agreed that their aim would be to retain sufficient reserves to meet all contractual liabilities and any unexpected costs. The Charity aims to have sufficient funds to cover 6 months normal running costs, which is approximately £30,000.
DECLARATION
The trustees declare that they have approved the trustees` report above.
Signed on behalf of the Trustees
……………………………………………… Doug Poynton Chair Date: 19[th] June 2023
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Wensum Sports Centre Charitable Association
| Wensum Sports Centre Charitable Association | |||||
|---|---|---|---|---|---|
| Statement of Financial Activities-Year Ended 31st March 2023 Note |
Unrestricted funds Restricted income funds Endowment funds Total this period Total last year |
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| £ £ £ £ £ |
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| INCOMING RESOURCES | |||||
| Fees for charitable services | 170,478 170,478 57,794 |
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| Donations, Legacies and Grants | 37,073 37,073 126,032 |
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| Total incoming resources 2 |
207,551 207,551 183,826 |
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| RESOURCES EXPENDED | |||||
| Sub Contracted and Waged Services |
119,055 119,055 92,278 |
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| Rent, rates, utilities and insurance | 44,065 44,065 30,779 |
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| Repairs and Renewals | 12,665 12,665 4,034 |
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| Office Costs | 4,000 4,000 7,046 |
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| Legal and professional fees | 1,413 1,413 2,480 |
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| Cost of fundraising events | 25,555 25,555 10,498 |
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| Bank charges and Card Fees | 3,366 3,366 3,978 |
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| Depreciation | 22,214 22,214 22,727 |
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| TOTAL RESOURCES EXPENDED 3 |
232,333 232,333 173,820 |
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| Net incoming/(outgoing) resources before transfers |
(24,782) (24,782) 10,006 |
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| Gross transfers between funds | - - - |
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| Net incoming/(outgoing) resources before other recognisedgains/(losses) |
(24,782) (24,782) 10,006 |
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| Other recognised gains/(losses) | |||||
| Gains and losses on revaluation of fixed assets for the charity’s own use |
- - |
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| Gains and losses on investment assets | - - |
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| NET MOVEMENT IN FUNDS | (24,782) (24,782) 10,006 |
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| Total funds brought forward | 312,607 312,607 302,601 |
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| TOTAL FUNDS CARRIED FORWARD | 287,825 | 287,825 | 312,607 |
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Wensum Sports Centre Charitable Association
Balance Sheet
31[st] March 2023
| Notes FIXED ASSETS: Tangible assets 4 Intangible assets CURRENT ASSETS: Debtors and Prepayments 5 Stock Bank and cash CREDITORS:Amounts falling due within one year 6 NET CURRENT ASSETS: NET ASSETS FUNDS OF THE CHARITY: RESERVES TOTAL FUNDS: |
31.03.23 £ £ 263,740 263,740 5,405 100 41,332 46,837 22,752 24,085 287,825 287,825 287,825 |
31.03.22 | 31.03.22 |
|---|---|---|---|
| £ 263,740 5,405 100 41,332 46,837 22,752 287,825 |
£ 282,717 18,760 100 19,750 38,610 8,720 312,607 |
£ 282,717 29,890 |
|
| 312,607 | |||
| 312,607 |
The financial statements have been prepared under the historic cost convention and in accordance with applicable UK accounting standards and with the Charities Act.
……………………………………………… Doug Poynton – Chair of Trustees
19[th] June 2023
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Wensum Sports Centre Charitable Association
Notes to the Financial Statements
for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Incoming Resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy or when amounts, such as gifts, are received.
The value of services provided by volunteers has not been included in these accounts.
Expenditure and Liabilities
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to pay out resources.
Assets
Tangible fixed assets for use by the Charity are capitalised if they can be used for more than one year. They are valued at cost and written off over the expected life of the asset or over the term of the lease in the case of building improvements.
Stocks are valued at the lower of cost or market value.
2. ANALYSIS OF INCOMING RESOURCES
| UNRESTRICTED FUNDS Halls and Squash Membership Gym MMA Sundries and Snacks Room and Equipment Hire Socials Donations Grants Total |
31.03.23 31.03.22 £ £ 105,138 83,754 15,070 5,971 14,190 9,538 3,500 9,896 4,641 7,701 6,910 14,983 15,218 34,726 24,393 2,347 33,401 207,551 183,826 |
|---|---|
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Wensum Sports Centre Charitable Association
3 ANALYSIS OF RESOURCES EXPENDED
| UNRESTRICTED EXPENDITURE Bank Charges Paypal Fees Cleaning Rent,rates,utilities and insurance Other Office Costs and Retail Professional Fees Repairs and Renewals Hire Coaching Sub Contract and Wages Telecoms and IT Depreciation Total |
31.03.23 31.03.22 £ 935 1,913 2,431 2,065 2,903 5,215 44,065 30,779 18,128 9,831 1,413 2,480 12,665 4,034 1,775 7,755 119,055 92,278 769 723 22,214 22,727 232,333 173,820 |
|---|---|
The independent examiners fee for reporting on the accounts was £750.
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Wensum Sports Centre Charitable Association
Notes to the Financial Statements
| Notes to the Financial Statements | ||
|---|---|---|
4. 5. 6. |
for the Year Ended 31 March 2023 TANGIBLE FIXED ASSETS Land and Buildings Equipment COST: At 1 April 2022 348,783 44,512 Additions 3,237 Disposals At 31 March 2023 DEPRECIATION: At 1 April 2022 64,492 23,359 Charge for Year 17,439 4,775 Eliminated on disposals At 31 March 2023 NET BOOK VALUE: At 31 March 2023 At 31 March 2022 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade Debtors Amount Owed by Subsidiary CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade Creditors Advance Donation from Subsidiary Utilities Accrual Other Creditors and accruals |
Total |
| £ 393,295 3,237 |
||
| 396,532 | ||
| 110,578 22,214 |
||
| 132,792 | ||
| 263,740 | ||
| 282,717 | ||
| £ 5,405 - |
||
| 5,405 £ - 18,698 3,304 750 |
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| 22,752 |
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Wensum Sports Centre Charitable Association
Report of the Accountants to the Trustees of Wensum Sports Centre Charitable Association
In accordance with your instructions, I have compiled these unaudited financial statements, in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.
David Higenbottam 50 Neville Rd Norwich Norfolk NR7 8DY
Date; 14[th] June 2023
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