Wensum Sports Centre Charitable Association ## **Wensum Sports Centre Charitable Association Report and Accounts for the Year Ended 31[st] March 2024** - 1 - 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 - 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 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 - 3 - ## 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**||||| ||**£**
**£**
**£**
**£**
**£**||||| |**INCOMING RESOURCES**|||||| |Fees for charitable services|184,278
184,278
170,478||||| |Donations, Legacies and Grants|65,804
65,804
37,073||||| ||||||| |**Total incoming resources**
2|250,082
250,082
207,551||||| ||||||| |**RESOURCES EXPENDED**|||||| |Sub Contracted and Waged
Services|129,288
129,288
119,055||||| |Rent, rates, utilities and insurance|44,555
44,555
44,065||||| |Repairs and Renewals|8,655
8,655
12,665||||| |Office Costs|2,608
2,608
4,000||||| |Legal and professional fees|11,205
11,205
1,413||||| |Cost of fundraising events|12,156
12,156
25,555||||| |Bank charges and Card Fees|3,391
3,391
3,366||||| |Depreciation|23,638
23,638
22,214||||| |**TOTAL RESOURCES EXPENDED**
3|235,496
235,496
232,333||||| |**Net incoming/(outgoing) resources before**
**transfers**|14,586
14,586
(24,782)||||| |**Gross transfers between funds**|-
-
-||||| |**Net incoming/(outgoing) resources before**
**other recognisedgains/(losses)**|14,586
14,586
(24,782)||||| |**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**|14,586
14,586
(24,782)||||| |**Total funds brought forward**|287,825
287,825
312,607||||| |**TOTAL FUNDS CARRIED FORWARD**|302,411|||302,411|287,825| - 4 - 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 - 5 - 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| |---|---| - 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
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| |---|---| . - 7 - 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**| - 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 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 - 9 -