Wensum Sports Centre Charitable Association ## **Wensum Sports Centre Charitable Association Report and Accounts for the Year Ended 31[st] March 2023** - 1 - 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 - 2 - 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 Commission`s guidance on public benefit. They confirm that in planning and carrying out the Trust`s 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 - 3 - ## 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**||||| ||**£**
**£**
**£**
**£**
**£**||||| |**INCOMING RESOURCES**|||||| |Fees for charitable services|170,478
170,478
57,794||||| |Donations, Legacies and Grants|37,073
37,073
126,032||||| ||||||| |**Total incoming resources**
2|207,551
207,551
183,826||||| ||||||| |**RESOURCES EXPENDED**|||||| |Sub Contracted and Waged
Services|119,055
119,055
92,278||||| |Rent, rates, utilities and insurance|44,065
44,065
30,779||||| |Repairs and Renewals|12,665
12,665
4,034||||| |Office Costs|4,000
4,000
7,046||||| |Legal and professional fees|1,413
1,413
2,480||||| |Cost of fundraising events|25,555
25,555
10,498||||| |Bank charges and Card Fees|3,366
3,366
3,978||||| |Depreciation|22,214
22,214
22,727||||| |**TOTAL RESOURCES EXPENDED**
3|232,333
232,333
173,820||||| |**Net incoming/(outgoing) resources before**
**transfers**|(24,782)
(24,782)
10,006||||| |**Gross transfers between funds**|-
-
-||||| |**Net incoming/(outgoing) resources before**
**other recognisedgains/(losses)**|(24,782)
(24,782)
10,006||||| |**Other recognised gains/(losses)**|||||| |Gains and losses on revaluation of fixed
assets for the charity’s own use|-
-||||| |Gains and losses on investment assets|-
-||||| |**NET MOVEMENT IN FUNDS**|(24,782)
(24,782)
10,006||||| |**Total funds brought forward**|312,607
312,607
302,601||||| |**TOTAL FUNDS CARRIED FORWARD**|287,825|||287,825|312,607| - 4 - 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 - 5 - 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| |---|---| - 6 - 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. - 7 - 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**| |||**22,752**| - 8 - 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 - 9 -