Wensum Sports Centre Charitable Association
Wensum Sports Centre Charitable Association Report and Accounts for the Year Ended 31[st] March 2024
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Wensum Sports Centre Charitable Association
Trustees Report for the Year Ended 31 March 2024
CHARITY NUMBER 1150110 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 2024 the charity recorded a surplus before depreciation of £38,224. This was after incurring costs of £8,655 for ongoing repairs and renewals to improve facilities for members and capitalised expenses of £52,341 on new flooring for the main hall. Income was significantly up on last year thanks to ongoing efforts to encourage use of the Charity`s facilities.
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 £64,860 to the charity during the course of the year.
The last year has seen a surge in both the use and development of the centre. Two major projects have been or are being undertaken without any major grant aid. During 2023 the main sports hall flooring was replaced with a new top class playing surface.This had an immediate effect of increasing participation levels in all activities. This increase in numbers has enabled the charity to further its development by installing solar energy to the roof and thereby reducing utility costs. This project will be completed in the summer. There has been considerable interest in community competitions aimed at those who normally just play for fun. Inhouse staff provide regular play/fun sessions and professional coaching, if required, at all levels.The activities available at the centre are varied and diverse with old established activities and a number of newer less well known sports.
The centre is run by two managers along with a committee, as elected, and five trustees.
Following the difficult COVID period the charity has now become an established and successful community asset.
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: 12[th] August 2024
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Wensum Sports Centre Charitable Association
| Wensum Sports Centre Charitable Association | |||||
|---|---|---|---|---|---|
| Statement of Financial Activities-Year Ended 31st March 2024 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 | 184,278 184,278 170,478 |
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| Donations, Legacies and Grants | 65,804 65,804 37,073 |
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| Total incoming resources 2 |
250,082 250,082 207,551 |
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| RESOURCES EXPENDED | |||||
| Sub Contracted and Waged Services |
129,288 129,288 119,055 |
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| Rent, rates, utilities and insurance | 44,555 44,555 44,065 |
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| Repairs and Renewals | 8,655 8,655 12,665 |
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| Office Costs | 2,608 2,608 4,000 |
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| Legal and professional fees | 11,205 11,205 1,413 |
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| Cost of fundraising events | 12,156 12,156 25,555 |
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| Bank charges and Card Fees | 3,391 3,391 3,366 |
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| Depreciation | 23,638 23,638 22,214 |
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| TOTAL RESOURCES EXPENDED 3 |
235,496 235,496 232,333 |
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| Net incoming/(outgoing) resources before transfers |
14,586 14,586 (24,782) |
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| Gross transfers between funds | - - - |
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| Net incoming/(outgoing) resources before other recognisedgains/(losses) |
14,586 14,586 (24,782) |
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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 | 14,586 14,586 (24,782) |
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| Total funds brought forward | 287,825 287,825 312,607 |
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| TOTAL FUNDS CARRIED FORWARD | 302,411 | 302,411 | 287,825 |
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Wensum Sports Centre Charitable Association
Balance Sheet
31[st] March 2024
| 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: |
31.03.24 £ £ 292,446 292,446 2,315 150 50,614 53,079 43,114 9,965 302,411 302,411 302,411 |
31.03.23 | 31.03.23 |
|---|---|---|---|
| £ 292,446 2,315 150 50,614 53,079 43,114 302,411 |
£ 263,740 5,405 100 41,332 46,837 22,752 287,825 |
£ 263,740 24,085 |
|
| 287,825 | |||
| 287,825 |
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
12[th] August 2024
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Wensum Sports Centre Charitable Association
Notes to the Financial Statements
for the Year Ended 31 March 2024
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 |
31.03.24 31.03.23 £ £ 109,231 105,138 23,714 15,070 18,266 14,190 5,115 3,500 2,391 9,896 5,449 7,701 20,112 14,983 65,304 34,726 500 2,347 250,082 207,551 |
|---|---|
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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 Coaching Sub Contract and Wages Depreciation Total |
31.03.24 31.03.23 £ 329 935 3,062 2,431 2,498 2,903 44,555 44,065 4,451 18,897 11,205 1,413 8,655 12,665 7,815 7,755 129,288 119,055 23,638 22,214 235,496 232,333 |
|---|---|
.
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Wensum Sports Centre Charitable Association
Notes to the Financial Statements
for the Year Ended 31 March 2024
| 4. TANGIBLE FIXED ASSETS Land and Buildings Equipment COST: At 1 April 2023 348,785 47,749 Additions 52,344 Disposals At 31 March 2024 DEPRECIATION: At 1 April 2023 99,371 33,423 Charge for Year 20,056 3,582 Eliminated on disposals At 31 March 2024 NET BOOK VALUE: At 31 March 2024 At 31 March 2023 5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade Debtors Amount Owed by Subsidiary 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade Creditors Advance Donation from Subsidiary Utilities Accrual Other Creditors and accruals |
Total |
|---|---|
| £ 393,534 52,344 |
|
| 448,878 | |
| 132,794 23,638 |
|
| 156,432 | |
| 292,446 | |
| 263,740 | |
| £ 2,315 - |
|
| 2,315 £ - 36,361 6,003 750 |
|
| 43,114 |
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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 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; 2[nd] August 2024
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