Charlty reglstratlon number 1150117 IEngland and Walesl Company reglstration number 08059470 STAFFORDSHIRE WINTER SPORTS CLUB LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr Timolhy Fife Mr Darren Green Mr Matthew Burman Lloyd Mr Heath Rhodes Charity number (England and Wales) 1150117 Company number 08059470 Princlpal address Muckley Corner House Walsall Road Muckley Corner Lichfield Slaffordshire WS14 08G Registered office Muckley Comer House Walsall Road Muckley Corner Lichfield Slaffordshire WS14 OBG Auditor Kinnaird Hill Brunel House 1 Archers Court Huntingdon Cambridgeshire PE29 6XG Bankers Handelsbanken Lakeside Festival Way ST15RY Solicitors Wrigleys 3rd Floor 3 Wellin9lon Place Leeds Wesl Yorkshire LS14AP
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED CONTENTS Page Trustees report Independent auditorfs report 10-12 statement of financial adivities 13 Balance sheet 14 Statement of cash flows 15 Notes to the financial statements 16-28
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Iruslees who are also directors of the charitable cornpany for the purposes of the Companies Act 2006, present their annual report with the financial slalements of the charitable company lor Ihe period ended 3131 December 2024. The fnancIal slalements have been prepared in accordance with the accounting policies sel out in nole nole,nole01 lo the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reparting by Charities.. Slalement of Recommended Practice applicable lo 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). The Charity is a Public Benefit Entity as defined by FRS102. Objectlves and actlvities Our charity's purposes as set out in the objects contained in the companys memorandum of association are to.. For the benefit of the public in England and Wales by.. 1 } The preservation and protection of good health and the promotion of community participation in healthy recreation through sport and physical fitness. 21 To advance in life and relieve needs of young people through.. la) The provision of recreational and leisure lime activities provided in the interest of social welfare, designed lo improve their conditions of life- Ib) Providing support and aclivilies which develop their skills, capacities and capabilities lo enable them lo participate in society as mature and responsible individuals. 3) To relieve the needs of people with disabilities as the truslees Shall determine. 4) Such charitable purposes for the public benefit as are exclusively chari12ble according lo the laws of England and Wéles as the Iruslees may from time to liffle determine All business decisions are made having given reference lo the objects of the charity. Ensuring our work deliver5 our aims We review our aims, objectives and activities each year. The review looks at the success of each key activity and the benefits they have brought lo those groups of people we are sel up lo help. The review also helps us ensure our aims, objectives and activities remained focused on our staled purposes. We have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have sel. The focus of our work Our main objective5 are the promotion and provision of health, educational, recreational and sporting activities. The strategies we used lo meet these objectives included.. Providing a range of educational programmes aimed al people of all ages, genders, ethnicity, sexuallty or ability. Focusing upon providing pathways from our educational programmes into regular participation in aclivities that promole good health, social interaction and personal developmeril Provide employment opportunities for young people in the communities we work in. There is evidence of young people developing careers. including becoming part of the senior management team. Continue lo focus on reducing energy usage across our facilitles to limit the impact on the environment.
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 strateglc report The description under the headings "Achievements and performance" and "Financial revieW' meet the company law requirements for the truslees lo present a strategic report. Achlevements and Performance Our main aclivilies and who we engage with are described below. All our charitable activities focus on the provision of leisure, health, sports and educational activities and are undertaken to further our chgrilable purposes for the public benefit taking into consideration the Charities Commission's guidance on public benefit. Educational Programmes.. We d81iver a significant number of educational programmes, mainly focused on teaching people lo learn to skate. We have seen an increase in the number of people raking part in our educational programmes Social Interaction.. As well as providing the opportunity for people to ice skate we also ensure th21 the local communities surrounding the ice rinks are given the opportunity lo interact socially. This occurs IhroLtgh programmes such as social ice dance, where people can skate and have a beverage together, and our penguin clubs which provide the opportunity for young parents and their pre-school children to interact. We also provide regular sessions for home schooled children, and their familieslcarers to engage wth each other and lo participate In a physical activity. Community Sport: there is a significant amount of lime made available for community clubs to deliver sports activities such as junior ice hockey c]ubs, synchronised skating, and figure skating clubs. We also ensure that aspiring figure skaters can practice and develop their skills in closed sessions. The facilities are, on average, in use 16 - 18 hours per day and the usage breaks down approxlmately as follows.. Educational pragrammes - 380/0 lindudes lessons and coaching sessions) Community sport - 32% (includes teams ané clubs undertaking activities) Social Interad5an - 290A (Includes public skating, social events targeted at specific groups) Who used and benefited from aur services? The members confirm that they have complied wth the duty in Sedion 4 of the Charities Act 2006 to have regard lo the Charity Commission's general guidance on public benefit and have used this infomalion when devislng our aims and objectives and planning future activities. The Charity is committed to providing affordable leisure and recreational programmes for the communities it works with and will achieve this by robust management, allOAng prices to be kept affordable, and by reinvesting in new and existing acllvilies. The Charity recognises that to successfijlly deliver its objectives il must also provide a high- quality experience for each service user. The moniloring of this is achieved using monthly independent mystery visits supported by a robust, transparent user engagement programme. The Charity works with a range of other charities and community groups lo extend its impact and benefit to the wider commLtnity Slaffordshire Winter Sports Club strives for equity of access and works wlth local authority partners In delivering Council led initiatives at our cenlres. We underiake proactive research into grant funding to support the provision of activities for disadvantaged groups and provide free educational programmes. In our site In Uttoxeter we also provide special screenings of films in an environment for people wilh sensory related disabilities As a charity we work with local disability groups across our operating area lo run acllvities and sessions for various ages and ability levels as well as providing educational programmes aimed specifically at those with a disability. In order to support our local communities, we work with the various Nallonal Governing Bodles of sport lo encourage people lo eilher slart, or return lo, sports participation and we run open days offering free or very law- cost activities. Additionally, we work wilh local charities assisting them wilh fund raising and making facilities available for their use.
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Our "Skating Stars" programme has now become well established and provides Iree learn lo skate courses. In 8ddilion, we have regular skating competitions which enable skaters of all levels lo lest thernselves against other skaters and which are fully inclusive. We also support the development of the speed skating club in Allrincham by providing financial and maikeling support. We have worked with English Ice Hockey clubs lo actively increase the numbers of female skaters and have seen several new female ice hockey teams emerge as a result. We also partnered with Willies skating retailer, Bauer and the Coventry Phoenix Women's Ice Hockey Club lo pilot a girls prograrnme. This programme has proven very successful and has seen 12 young females join Ihe women's ice hockey team. We have increased the number of employees from 233 to over 250 in the past year. We proactively employ young people Irom the local area and often we are the young person's first employrnenl opportunity. We provide transferable skills and experience within the workplace as well as providin9 opportunities lo gain qualifications. In 2023 we introduced a feedback programme lo understand the needs of those attending social inleraclion programmes lo evolve the programmes we provide. From this feedback we have identified the following.. 21./0 of people are attending the facility for the first lime with 350/0 attending at least once a week 43°/o attended the facility with friends The main reason people visit the facility is because they enjoy it170°/ }, lo improve their abilities (31 Oh) and lo meet other people (21°Al 47 0/0 of people visiting the facility live less than 10 miles away and 734A of every attending travel by car. 61°A of people attending the facility identify as female In order lo ensure that we meet the needs of the people who use our services we proactively collect feedback and monitor social media. There are also details on the website on how lo tnake a complaint. As a charity we aim to ensure that our facilities offer value for money and flexibility lo the local community- On this basis we offer longer sessions al our facilities, typically behmeen 3 and 5 hours, than comparable facilities who typically offer sessions between 110 2 hours. This means that whilst the cost maybe higher, when compared lo the similar facilities, it means that there are less reslriclions on the lirnes available and that users benefit from longer sessions, thereby resulting in a lower cost when comparing the price on a per hour basis. This has the additional benefit of providing flexibility, something feedback shows is very important lo the local community. Where possible we work with local providers lo facilitate healthy holiday activities, which enable the local community to attend for free during the school holidays lo participate in educational programmes, reCeve a meal and have an activity lo do through the day. We also offer a similar programme, al an appropriate price, for Individuals who are not eligible for funded healthy holiday activities. There is a recognition of the benefit of an inclusive and diverse workforce that does not exclude disabled people. We are committed lo ensuring that we get the right people who represent the local community and add value lo the activities that we offer. We aim lo provide an inclusive and accessible recruilmenl process and make reasonable adjustments so that all job applicants have the best opportunity lo demonstrate that they can be successful if Ihey are employed. If employees become disabled during their employment, we will provide appropriate training and make reasonable adjustments lo ensure their employment continues. All staff, including those wflh a disabillty, have equal access lo training, career development and promotion opportunities. We have invested in the Cilalion system which provides online training which supplements the training we provide at a facility level. We have programmes in place la provide discounted educational programmes and activities lo schools and local community groups. In addition, we provide dedicated lessons lo children being educated al home, thereby allowing them lo have access lo a physical activity, learn a new school and interact with Iheir peers.
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Our memberships offer members the opportunily to receive discounts on the activities and programrnes we provide, and these discounts increase during the school holiday to reduce the cost of participating, thereby recognising that many our communitles are being impacted by the cosl-of-llvlng crlsls. In the Cinebowl in Uttoxeter we are participating in the Cinematik programme that provides free screenings to the local community- Financial revlew The executive management team prepare the annual operalional budget for the charity, and this is approved by the board prior to the commencement of the financial year. The board of management receive quarterly reports on the financial performance of the charity. These reports include an Income and expenditure statement and balance sheet, both compared to budget and last year for the month and year to date. A settlement was reached regarding the use of Intellectual propety11P1, with the charity paying a one-off sum of £175,000 for the hislortc use of IP. There is a recognition that there is value in using the brand name, Planet Ice, and there would be slgnlficant costs associated with a rebrand such as having lo purchas8 and build new systems. Due lo the short-term nature of the licence8 beeen the charity and licensor, historically the licence fees were reflected a pass through of the costs incurred by the licensor plus an additional charge for administration and equipment. However, this charge did not reflect the fit-out costs, as the buildings were originally provided to the licensor as a shell. In order to provide the licensor with flexibility lo sell the buildings, for any use, as part of a review of the agreement beeen the charity and the licensor it has been agreed that an additional charge is appropriate. The additional amount paid for IP charge this year was £1.43m. Whilst the short-lerm linCeS remain in place it has been agreed that this charge should be incorporated within the charge made for IP, which is set at a similar level to what the licensor could realise tf a franchise agreement was In place 2nd calculated using a similar rnechanism. All funds are generated through receipts from customers, from grants or from funding provlded by our local authority partners. The rnajority of funds are spent on enabling participation in activities that meet the charities objectives. Expenditure of these funds support5 the key community objectives of the charity and the continued investment in improved services and facilities for the community. Due to the shutdowns caused by COVID deterioration has occurred that is outside the namial18vel ofwear and tear that could be expected. Comlng out of COVID the charity focused on operational maintenance and did not undertake investment to ensure that the facilities were maintained lo keep them to the standard that they were in when they took occupalion. As a result, a request has been made for the charity lo make reparation and this is currently under discussion. There are cash reserves of £4.2m, which have been set aside to a dilapidationsl maintenance fund within the unrestricted reserves lo cover the expected reparalion costs. Discusslons are ongoing regarding the reparation charge to be made with a view to agreeing a on&off payment which would cover each site and would also ensure that the charity will not incur future costs so long as they fulfil their requlrements lo maintain the facilities. 11 should be noted that when the charitles began operating the facilities it was anticipated that they would only be in occupation for a short period of lime, however this has proven not lo be the case. 11 is recognised that if the licensor chose to sell the properties, which would attract significant interest. as they could be utllised for other purposes as they are effectively warehouses,11 would have a slgnificant impact on the health, leisur8 and recreation activities for their local communities as well as being detrimental to the sports of ice skating and ice hockey. As a result, the charities are currently exploring options for a long-lerm agreement. Total expenditure in 2024 was £11,939.994, having been £10,002,681 in 2023. This represents an increase of190kn. This compares lo income in 2023 of £11,879,786 compared lo £12,527,952 in 2024, an increase of approxlmalely
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Reserves policy It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained al a level equivalent lo lo three months, expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given lo ways in which additional funds may be raised. In 2022, the charity generated a surplus in anliclpalion of contracts under negotiation and to address invoices for the provision of services provided by a utility cornpany that was under dispute. This surplus significantly increased in 2023 and al the end of 2024 the charity held £6.710,a07 in reserves., however, il is anticipated a significant payment for reparation costs will be required. St is currently not possible to predict an amount-, however, an eslimaled allocation is currently being made for a cost of £600,000 per facility, and therefore funds amounting lo £4.2m have been transferred lo a designated fund for dilapidations and maintenance. The reseNes policy is currently under review. It is anticipated that the general reserves will be further 51ruclured as follows-, Continuity Fund This fund is lo be used lo bridge any possible delays in income, circumstances that result in income declining significantly le.g. COVIDJ or managing payment in arrears conlracls. This has been defined as a minimum of a three month's budgeted trading activity. Restructuring Fund This fund is lo be used lo cover essential tradinglaclivilies whilst sourcing income lo a maximum of 6 months budgeted trading activity. Cyclical Maintenance Fund This fund is to be used for major items of maintenance of the fabric of the buildings such as redecorating the interior. Dissolution Fund This fund provides for the costs of dissolution should the charity be unable to continue. It Is only lo be used in the event of the Trustees, deciding the charity should cease lo exist. 11 will be used lo pay notice periods, redundancies and the expenses of running the facilities unlil closure of Ihe organisalion. Conlesled Payments Fund This fund is to be used lo cover costs of expenditure which are under dispute, for example historic eleclTlCity bills, outstanding brand licence payments etc. Plans for future periods We strive lo continue lo deliver high quality community programmes and to develop and expand our programmes into new communities. Development of new facilities is also an on-going focus - Identifying new opportunities that meet the needs of the community and fvjlfil our charitable objectives. To address the seasonal economic variations, we intend lo look lo expand our provision into non-winter sports activities. There is also a desire lo explore opportunities for investment. Currently a lol of the charities beneficiaries travel to attend using a car. This is not the most environmentally sympalhelic mode of transport and so it is important lo explore way lo encourage other forms of Iransport lo be used. l is hoped lo secure funding andlor sponsorship lo provide free or highly subsidised activities. Structure, governance and management The charitable company is controlled by its governing document, and conslilutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the dale af signature of the financial statements were.. MrTimolhy Fife Mr Darren Green Mr Matthew Burman Lloyd Mr Heath Rhodes Recruitment and appolntment of trustees In exercising ils powers lo norninale, appoint, reappoint; elect, re-elect, approve and dismiss members, the members shall seek lo ensure that the board is representative of the local community and also cornprises persons with a broad range of skills who are likely to contribute to the organisation's success. Board members Induction and training All new members joining the Board receive a full induction that is aimed at trainlng them in their statutory responsibilities under charity and company law. The Induction will normally include.. Meeting with the Chairman of the Board Tour of all facilities and an opportunity to meet staff Access lo safeguarding training Receive copies of the Charity's rules Receive copies of strategy and business planning documents Receive copies of corporate policies and documents Receive an organisational slnjclure and overview of the management process Structure The charity is overseen by a board whith sets the policies and procedures to be used by Ihe facililie5. viaord Allah bAwJrn Leodll Whuil There is no Chief Executive or Company Secretary as both roles are redundant based on Ihe structure used. The responsibilities of those roles are shared and included in the responsibilities of the Iruslees. Each facility has a General Manager employed by the charity. staff are dlrectly employed by the charity, with Ilne management being provided by the facilities General Manager. General Managers are expected to make decisions in line with the policy and procedures approved by the board. Pollcy and procedures are approved at board level, where approprtale. The charlty contracts with Pl (Llchfield) Llmiled for the provision of management services with the remit of ensuring that the facilities operate using the policies and procedures approved by Ihe board. The Trustees are employed by P.1. (Lichfield) Limited. This approach provides consistency across all facilities as it provides several benefits lo the charity as il enables a focus on core activities, improve the quality of service whilst reducing Ilfe-cycle costs. It also enables access lo category experts, with up-to-date market knowledge and potentially new and innovative ways af delivering a particular service. There is no standard approach lo remuneration, as the facilities operate in different areas, offer different facilities and are sized differently.
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Engagement with Employees The Iruslees are aware that as the charity has grown it is important lo recognise the importance that they play in the delivery of our services and the impact that they have on the local community. During the nexl financial year, we will be exploring ways lo ensure that staff are provided systematically with information on employee matters including achieving 2 cornmon awareness on the part of all employees of the financial and economic factors affecting the performance of the company. We will also seek lo Introduce a formal mechanism lo consult with staff on a regular basis so that their views can be taken into account in making decisions which affecl their interest. There is a recognition that supporting and developing staff starts as soon as they accept an offer of employment, and as a result there has been significant work done to refine the induction process. In order to ensure that the Iruslees engage with employees and develop an understanding of the challenges they face, they regularly undertake visits lo the facilities as well as allending meetings and staff activities. There is an annual conference for the facility managers, which includes a social evenl and evening meal. Also, an annual appraisal process is in p12ce. Risk management The members of the Board have a duty lo identify and review the risks lo which the charity is exposed and lo ensure appropriate controls are in place to provide reason2ble assurance against fraud and error. The Board members confirm that the major risks lo the charity have been reviewed and Ihal systems or procedures have been established lo manage those risks. Risks are assessed using a risk matrix and controls identified to mitigate each risk. A Score is then generated for risk5 which considers Ihe risk pre and post control. The three most significant risks are as follows.. Increase in the cost of utilities ReseNe management 3. A drop of facility usage Risks are managed as appropriate, for instance ulilily use is monitored on a weekly basis and the charity has invested in a real lime electricity use rnoniloring system. Conflict of Interest The charity has a Conflict of Interes15 Policy and manages any potential conflicts in line with that policy.
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Relatlonship between the Charlty and related partles The Charity has a licence granted by The Ice Rink Company Limited to operate Altrincham Ice rink, Solihull ice rink and Widnes Ice rink. The charity operates Ihe rinks under the brand name Planet Ice. The Gharity has a licence granted by Pl Propety (Leisure) Limited lo operate Cinebowl and Iskate in Uttoxeler as well as Coventry ice rink. The charity operates Iskate and Coventry ice rink under the brand name Planet Ice. The Charity has a Ilcence granted by Blackburn IceArena Limited to operate Blackburn Ice Rink. The charity operates the rink under the brand name Planet Ice. The Charity has a licence granted by Nice Leisure Limited lo operate Leeds Ice Rink. The charity operates the rink under the brand narne Planet Ice. The Charity is affiliated as required to the National Governing Bodies for the sports it provides. It utilises the learn lo skate programmes branded Skate Excellence and Hockey Excellence, which is a programme developed by KCO Inline Ice Skating Limited and which provides qualifications which are recognised by City and Guilds. H. Rhodes is a director of KCO Inline Skating Limited but does not receive any remuneration. An annual brand Ilcenclng agreement is in place to allow the charitles lo use the intellectual property 'Planet Ice.. The charity uses the services of Pl (Lichfield) Limited lo provide Head Office seNices lo the charities and Ice Medla Production Company Limited lo provide ICT management setvices. H. Rhodes and D. Green are employed by P.1. Lichfield. H. Rhodes is a Director of Ice Media Productions but does not receive any remuneration. Bison in the Community Limlled and Slaffordshire Wnter Sports Club Llmited are considered linked as they share the same directors. Statement of trustees responsibilities The Iruslees, who are also the directors of Staffordshire Winter Sports Club Limited for the purposes of company law, are responsible for preparing the Report of the Trustees and the financial ststements in accordance wlh applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which glve a true and fair view of the slate of 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 those financial statements, the Irustees are required to seled suitable accounting policies and then apply them consistently., observe the methods and principles in Ihe Charity SORP 2019 IFRS 102)., make jLÉdgefflenls and estimates that arè reasonable and prudent. prepare the financial slatements on the going concern basis unless It Is Inappropriate to presume that the charitable company will continue in business. The Ituslees are responsible for keeping proper accounting record5 which disclose wilh reasonable accuracy at any lime the financial position of the charitable company and to enable them lo 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.
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Dlsclosure of Information to auditor So far as the trustees are aware, there is no relev£nt inform81ion (as defined by Section 418 of the Companies Act 2006) of which the charitable company's auditor5 are unaware, and each trustee has taken all the steps that they ought lo have taken as a Irustee in order lo make them aware of any audit Information and to establish that the charitable company's auditors are aware of that information. The trustees report, including the strategic report, was approved by the Board of Trustees. Mr Darre Trustee reen Dale..
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STAFFORDSHIRE WINTER SPORTS CLUB LIMITED Oplnlon We have audited the financlal statements of Slaffordshlre Wlnler Sports Club Limited (the 'charity') for the year ended 31 December 2024 which comprise the slaternent of financial activities, the balance sheet, the statement of cash flows and noles to the financial statements, includino significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Uniled Kingdom Accounling Standards, including Financial Reporting Standard 102 The Financial Reporting Standard appIable in the UK and Republic of Ir8land (United Kingdom Generally Accepted Accounting PTactice). In our opinion. the financial statements: give a true and fair view of the state of the charitable companls affairs as at 31 December 2024 and of its incoming resources and application of resources, including ils income and expenditure, for the year then ended., have been properly prepared in accordance wlh United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance th the requlrements of the Companies Act 2006. Basis for oplnlon We conducted our audit In accordance with Intemalional Standards on Audiling (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described In the Auditols responsibilities for Ihe audit of the financial statements section of our report. We are independent of the charity in accordan th the ethical requirements that are relevant to our audit of the financial statemenls in the UK, including Ihe FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requiremenls. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have concluded that the trustees use of the going concem basis of accounting in the preparation of the financial slatements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individualSy or collectively, may cast significant doubl on the charitls ability to continue as a going concern for a period of at least thelve months trom when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees wth respect to going concern are described in the relevant sections of this report. other Information The other infomiation comprises the information included in the annual report other then the financial statements and our auditovs report Ihereon. The trustees are responsible for the other informalion contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, In doing so, consider whether the other information is rnaterially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misslated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether Ihls gives rise to a material misstatement in the fsnancial statements themselves. If, based on the work we have performed, we conclude Ihat there is a material misslalement of this other information, we are required lo report that fact. We have nolhlng to report in this regard. Oplnlons on other matter5 prescribed by the Companies Act 2006 In our oplnion, based on the work undertaken in the course of our audit.. the Information given in the trustees report for the financial year for which the financlal statements are prepared, which includes the directors, report and the strategic report prepared for the purposes of company law, is consistent with the financial statements., and the strategic report and the directors, report included within the trustees report have been prepared in accordance with applicable legal requirements. 10-
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF STAFFORDSHIRE WINTER SPORTS CLUB LIMITED Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the dlreclors, report included within the Iruslees report. We have nothing to report in respect of the following matter5 in relation lo which the Companies Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the st21emenl of trustees responsibilities, the Iruslees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of Ihe financial slalemenls and for being satisfied that they give 2 true and fair view, and for such internal control as the trustees determine is neSSary lo enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial s121emenls, the trustees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matter5 related to going concern and using the going concern basis of accounting unless the Iruslees either intend lo liquidate the charitable company or lo cease operations, or have no realistic allernalive but lo do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalement, whether due lo fraud or error, and to Issue an auditor's r8POrt that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducled in accordance with ISAS (UK) will always delect a material misstalemenl when it exists. Misslatemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions ol users taken on the basis of these financial statements. The extent lo which our procedures are capable of detecting irregularities, including fraud, is detailed below. Identifying and assessing risks related to irregularities We assessed the susceptibility of the charity's financial statements to material misstatement and how fraud might occur, including through discussions wilh the Trustee, discussions within aur audit team planning meeting, updating our recoids of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charity by discussions with the Trustee and updating our understanding of the sector in which the charity operates. Laws and regulations of direct significance in the context of the charity include the Charities Act 2011. 11
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF STAFFORDSHIRE WINTER SPORTS CLUB LIMITED Audit response to rlsks identified We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial slalement ilems including a review of financial statement disclosures. We reviewed the charity's mlnutes of meetings to identify potential misstaternents arising. We discussed the charity's policies and procedures for compliance with laws and regulations wilh mernbers of management responsible for compliance. During the planning meeting with the audlt team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journ81 entrres and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting eslimates give rise lo a possible indlcation of management bias. At the completion stage of the audit, the engagement Partner's review included ensuring that the team had approached their work with appropriate professional sceplicism and thus Ihe capacity to identify non- compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed the non-compliance with laws and regulations is from the events and transactions in the financial statements, the less likely we would become aware of It. Also, the risk of not detecting a material mlsstalement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may Involve deliberate concealment by, far example, forgery or intentional misrepresenlations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's website al-. https'.11 ww.frc.org.ukjauditorsresponslbililies. This description forms part of our auditors report. Nita Ellzabeth Hutchcraft FCCA (Senlor Statutory Auditor} For and on behalf of Kinnaird Hill, Slalutory Auditor Ghartered Certified Accountants Brunel House 1 Archers Court Hunlingdon Cambridgeshire PE29 6XG Date.. 12
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Income and endowments from: Donations and legacies Charitable adivilies Investments Other income 900 12,435,860 90,806 388 50,000 11,827,683 2,103 Total income 12,527,952 11.879,786 Expenditure on: Charitable activities other expenditure 10,331,563 1,608,431 9,823,731 178,950 12 Total expenditure 11,939,994 10,002,681 Net income and movement in funds 587,958 1,877,105 Reconciliation of funds: Fund balances at 1 January 2024 6,122,149 4,245,044 Fund balances at 31 December 2024 6,710,107 6,122,149 The st21emenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. The notes on pages 1610 28 form part of these financial statements. 13-
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets 14 378,700 Current assets Stocks Debtors Cash al bank and in hand 15 16 94,575 4,704,235 3,302,784 8S,532 4,789,289 2,463,442 8,101,594 7,342,263 Creditors: amounts falling due within one year 17 11,391,487) (1,598,814) Net current assets 6,710,107 5,743,449 Total assets less current liabllitles 6,710,107 8,122,149 The funds of the charity Unreslricled funds 19 8,710,107 6,122,149 6,710,107 6,122,149 The notes on pages 16 10 28 form part of these financial slalements. The financial statements were approved by the Iruslees on Mr Darr Trustee Green Company registration number 08059470 (England and Wales) 14-
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 23 369,450 581,479 Investlng activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Investment income received (38,485) 1101,0821 417,571 90,806 2,103 Net cash generated froml(used inl investing aclivities 469,892 198,9791 Net cash generated from financing activities Net increase in c3sh and cash equivalents 839,342 482,500 Cash and cash equivalents al beginning of year 2.463,442 1,980,942 Cash and cash equivalents at end of year 3,302,784 2,463,442 The notes on pages 16 10 28 form part of these financial statements. 15-
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies Charity information Slaffordshire Winter Sports Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Muckley Corner House Walsall Road, Muckley Corner, Lichfield, Staffordshire, WS14 OBG. 1.1 Accounting conventlon The financial slalements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Ad 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable lo charities preparing their account5 in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Publlc Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is Ihe functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below. 1.2 Golng concern Al the time of approving the financial statements, the tnjstees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted ftjnds are available for use at the dlscrelion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the reslricled funds are sel out in the notes to the financial statements. .4 Income Income is recognised when the charity Is legally enlilled lo It after any performance conditions have been mel, the amounts can be measured reliably, and il is probable that income will be received. Cash donalions are recognised on receipt. Other donations are recognised once the charity has been notified of the donation. unless performance conditions require deferral of the amount. Legacie8 are recognised on receipt or otherwise if the charlty has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount Is not known, the legacy is Irealed as a contingent asset. Grants are recognlsed when the company has an enlillement lo the funds and any conditions linked lo the grants have been mel. Where performance conditions are attached lo the grant and are yet lo met, the income is recognised as a liailibilily and included on the balance sheet as deferred income lo be Teleased. Where entitlement occurs befor8 the income is recelved, the income Is accrued Rental income is amounts receivable for rental seNices, net of VAT and is recognised on an accnjals basis. 16-
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcies (Continued} 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation la transfer economic benefit lo a third party, it is probable that a transfer of economic benefits will be required in selllemenl, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lolal of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute lo more than one activity 8nd support costs which are not attributable lo a single activity are apportioned belween those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the bssis of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured at cost or valuation, nel of depreciation and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the followtng bases.. Plant and equipment 15DA reduciing balance The gain or loss arising on the disposal of an asset is determined as the difference bebmeen the Sale proceeds and the carrying value of the asset, and is recognised in the slalement of financial activities. 1.7 Impairment of fixed assets Al each reporting end dale, the charity reviews the carrying amounts af its tangible assets lo delermine whether there is any indication Ihal those asse15 have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order lo determine the extent of the impairment lass (if any). 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerrn liquid investments with original maturities of three months or less, and bank overdrafts. 1.10 Financial instruments The charity has elected lo apply the provisions of Seclion 11 'Basic Financial Inslrumenls, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of it5 financial inslrumenl5. Financial instruments are recognised in the charity's balance Sheet when the charity becomes party lo Ihe conlraclual provisions of the inslrumenl. Financial assets and liabilities are offset, with the net amounts presented in the financial slatemenls, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo settle on a net basis or to realise the asset and settle the liability simultaneously. 17
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcies {Continuedl Basic financial assets Basic financial assets, whlch Include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at arnortised cost using the effective interest method unless the arrangement constitutes a financing Iransaclion, where the Iransaclion is measured at the present value of the future receipts discounted at a market rate of Interest. Flnancial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditor5 and bank loans are Initially recognised at transaction price unless the arrangement constllutes a financing transaction, where the debt instrument is measured at the present value of the future paymenls discounted al a market rate of interest. Financial liabilities classified as payable wilhin one year are not amortised. Debt inslrumen15 are subsequently carried al arnortlsed cost. uslng the effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Arnounts payable are classified as current liabilities if payment is due wlhin one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligalions expire or are discharged or cancelled. 1.11 Employee benefits The cosl of any unused holiday enlitlemenl is recognised In the period In which the employee's services are recelved. Termination benefits are recognised immediately as an expense when the charity Is demonstrably cornmitted to terminate Ihe employment of an employee or to provide lermlnation benefits. 1.12 Retirement beneflts Payments lo defined contribution pension scheme are charged as an expense as they fall due 1.13 Leases Rental is payable under a licence. The notice period is 48 hours, therefore, Ihere is no capital commitment at the year end. Critical accountlng e5tlmates and judgemenls In Ihe application of the charity's accounting policies, the truslees are required to make judgements, estimates and assurnptions 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 lo be relevant. Aclual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales 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. 18
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacies Unrestricted funds 2024 Unrestricted funds 2023 Grants 900 50.000 Income from ¢haritable activities Unrestricted funds 2024 Unrestricted fund5 2023 Educational Programs Sale of gaods 2,586,548 2,322,807 Leisure & Recreational Sale of goods 7,227,090 7,038,538 Events Sale Df goods 1,333,730 1,241,711 Miscellaneous Sale of goods 1,288,492 1,224,627 12,435,860 11,827,683 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 90,806 2,103 Other Income Unrestricted Unrestricted funds funds 2024 2023 Nel gain on disposal of tangible fixed assets 386 19
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STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to activities Direct Costs 2024 Total 2023 Finance costs Governance 150,266 251,967 138,063 86,121 2024 2023 Governance costs comprise: Audit fees Legal and professional 19,541 232,426 16,055 70,066 251,967 86,121 Net movement in funds 2024 2023 The net movement in funds is slated after chargingl(crediting)'. Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets Profit on disposal of tangible fixed as5els 19,541 16,055 84,414 (386) 10 Trustees None of the Iruslees (or any persons connected with them) received any remuneration or benefits directly from the chanty during the year. However, the four Trustees were paid £209,417 12023.. £142,857). The remuneration was paid by Pl (Lichfieldl Limited see note 21 to the financial 51atemenls and is included in the direct co15 of £524,934 (2023.. £242,788). 11 Employees The average manthly number of employees during Ihe year was.. 2024 Number 2023 Number 261 233 21
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Employees (Continued) Employment costs 2024 2023 Wages and salaries Soclal security costs Other pension costs 2,402,572 126,569 31,914 2,170,524 102,514 26,939 2,561,055 2,299,977 There were no employees whose annual remuneration was more than £60,000. 12 Other expenditure Unrestricted Unrestricted funds funds 2024 2023 Exceptional item 1,608,431 178,950 This year the company has paid £1,608,431 additional charges for the use of intellectual propety following a review of the licence agreements. Given the size and nature of this amount, it has been refleded as an exceptional item in the financial statement5. In the prior year West Midland Winter Sports Club Limited ceased trading on the 31 March 2021 and the trading activities were transferred to Staffordshire Mfinter Sports Limited. The balance of £178,950 represen15 full settlement of any debts that were outstanding at Ihe 31 March 2021 by S12ffordshire Wnler Sports Club Lirnited. West Midlands Wnter Sports Club Limited is a related charity, the trustees Mr Green, Mr Rhodes, Mr Fife and Mr Lloyd are Iruslees of the company. 13 Taxatlon The charity is exempt from taxation on Its activilles because all its income is applied for charitable purposes. -22-
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Tangible fixèd assets Plant and equipment Al 1 January 2024 Additions Disposals 466,532 38,485 {505,017) Al 31 December 2024 Depreciation and impaim)ent At 1 January 2024 Eliminated in respect of disposals 87,832 {87,832) Al 31 December 2024 Carrying amount Al 31 December 2024 Al 31 December 2023 378,700 15 Stocks 2024 2023 Raw materials and consumables 94,575 89,532 16 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtor5 Prepayments and accrued income 75,391 4,598,196 30,648 405,801 4,354,368 29,120 4,704,235 4,789.289 17 Creditors: amounts falling due within one year 2024 2023 Other laxalion and social security Trade creditors other creditors Accruals and deferred income 166,255 470,244 239,631 515,357 66,016 749,328 266,548 516.922 1,391,487 1,598,814 23-
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profil or loss In respect of defined contribution schemes 31,914 26,939 The charity operates 8 defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity In an independently administered fund. Payments to the defined contrlbution pension scheme are charged as expenses as they fall due. 19 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been sel aside out of unrestricted funds by the trustees for specific purposes. At fj January 2024 Incoming resources Resources expended Transfers At31 December 2024 Dilapidation81mainten2nce fijnd General fvnds 4,200,000 12,527,952 {11,939,9941 {4,200,000) 4,200,000 2,510.107 6,122,149 6,122,149 12,527,952 (11,939,994) 6,710,107 Previous year.. At 1 January 2023 Incomlng resources Resource5 expended Transfers At31 December 2023 General funds 4,245,044 11,87g,786 (10,002,681) 6,122,149 Dilapidationslmaintenance fund: This is a designated fund which represents the funds sel aside towards dilapidatlon and maintenance costs of the ice rinks whlch are required for ongoing operations and for reparation costs under the terms of the licence agreements. 20 Contingent liability Under the terms of the licence agreements, the charity may be obliged to undertake reparation costs in respect of each building. It is difficult lo calculate a reliable estimate of the potential costs and to dislin9uish between these and ongoing repairs and maintenance costs., therefore, no provision has been made in the financial statements but funds of £4.2m have been transferred to a designated fund in anlicipalion of these costs. -24-
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 21 Related paty transactlons Transactions wlth related parties Direct costs 2024 2023 KCO Inline Skating Limited Bison in the Community Limited Ice Media Production Limited Pl {Lichfield) Lirnited The Ice Rink Company Limited 29,907 (4,307) 120,453 524,934 37,242 15,896 (7,3611 85.035 242,788 708,229 336,358 Amounts owed to related parties 2024 2023 KCO Inline Skating Limited Ice Media Produclion Limited Pl (Lichfield) Limited Bison In the Community Limited 80,110 5,591 65,935 46,358 47,416 405 103,794 44.566 197,994 196.181 Arnounts owed by related parties 2024 Balance Amounts owed by related parties 2023 Balance Net Net Pl {Lichfield) Limited 20,807 20,807 1,447 1,447 20,807 20,807 1,447 1,447 -25-
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Related party transactions (Continued) Mr Rhades, a trustee, is a shareholder and director of KCO Inline Skating Limited and Ice Media Production Limited, The transactions with these companies are at arms length. All of the trustees of the charity are remunerated under contracts of employmenl or a service conlract on a self employed basis with Pl (Lichfield) Limited for services provided lo the charity. The trustees are also the only key management personnel. The costs of the seNices were recharged by Pl (Lichfield) Limited during the year and are included in the direct costs as disclosed above. Further detalls of the payments made to the trustees are included in note 10 to the financial ststements. Pl (Lichfield) Limited is relaled to the charity by virtue of the payment of Irustees remuneration or a service contract on a self ernployed basis. .The controlling party of this company, Mr M Petrouis, is also shareholder of the companies related lo the trustee Mr Rhodes, as mentioned above. Bison in the Community Limited and West Midlands Wnter Sports Club Limited are both related charities since the trustees Mr Green, Mr Rhodes. Mr Fife and Mr Lloyd are al80 trustees of each of Ihem. Transactions are at arms length and due lo the unique nature 2nd inter-relationships of the charities concerned, there Is an element of recharge beeen them to cover seasonal and common activities and events. The following arnounts were recognised as an expense in the year in respect of bad debts due from related parties. Note 12 to the financial slalements provides additional infomiallon In relation to the write offs of irrecoverable balances. 2024 2023 West Midlands Winter Sports Club Limited 178,950 -26-
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Related party transactlons (Continued) Additional related party disclosures The following balances were owed by related parties as al 31 December 2024.. 2024 2023 Silverblades Ice Rink Company (Allrincham) Limited Ice Rink Cornpany Limited Blackburn Arena Limited Pl Propety Leisure Limited Planet Ice Skydome Limited Silverblades Ice Rink Company {Leedsl Limited Silverblades Ice Rink Company (Solihull) Limited Silverblades Ice Rink Company {Uttoxelerl Limited Silverblades Ice Rink Company Iwidnesl Limited 554,799 698,870 468,653 490,414 448,797 586.845 624,844 294,521 416,488 949,683 549,805 386,797 850,572 867.019 154,821 58g,140 During the year licence fees were charged by the following related parties.. 2024 2023 Silverblades Ice Rink Company {Altrinchaml Limited Blackburn Arena Limited Planet Ice Skydome Limited Silverblades Ice Rink Company (Leeds) Limited Silverblades Ice Rink Company (Solihull) Limited Silverblades Ice Rink Company (Uttoxeler) Limited Silverblades Ice Rink Company (Widnesl Limited 660,075 464,100 479,700 474,240 474,240 188,370 374,400 605.120 383,670 445,200 484,240 449,772 191,632 381,600 The charity has licences, in respect of the Ice Rinks, granted by the companies listed above. During the year fixed assets were sold al net book value to Pl Property Leisure Ltd amounting lo £360,857 During Ihe year fixed assets were sold at net book value to The Ice Rink Company Ltd amounting lo £52.684 During the year professional charges of £89,185 were recharged by Pl Propety Leisure Ltd The charity operates the rinks under the brand name of"Planel Ice and Silverblades Ice Rink Company. Sncluded in note 12 Exceptional costs is £1,200.970 charged by The Ice Rink Company Ltd and £407,461 charged by Pl Property Leisure Ltd for use of Intellectual property. All of the companies are owned and controlled by Mr M Pelroui5. 22 Company limifed by guarantee The company is limited by guarantee, ezch member having undertaken lo contribute such amounts not exceeding one pound as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter. There are 4 members of Ihe company. 27-
STAFFORDSHIRE WINTER SPORTS CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Cash generated from operations 2024 2023 Surplus for the year 587,958 1,877,105 Adjustments for: Investment income recognised in statement of financlal acllvltles Gain on disposal of t2ngible fixed assets Depreciation and impairment of tangible fixed assets 190,806) (388) (2,1031 64,414 Movements in worklng capltal: {Increaselldecrease in stocks Decreasel{increasel in debtors (Decrease) in creditors (5,043) 85,054 (207,327) 10,102 11,257,630) (110,4091 Cash generated from operatlons 369,450 581,479 24 Analysls of changes In net funds The charity had no material debt during the year. -28-