COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE Charlty numb•r 1151280 Company number 08270063 INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 PAGE Company Infomation Report of the Directors Independenl Audilorfs Report Statement of Financial Activities Balance Sheet Noles lo the Financial Statements 10 •AEHM471J# 1711212025 COMPANIES HOUSE A10
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COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE COMPANY INFORMATION FOR THE YEAR ENDED 31ST MARCH 2025 DIRECTORS Earl of Aylesford P. J. Dick M. A. E. Whitehall O. Moorcroft SECReTARY P. N. Breed REGISTERED OFFICE Xcel Leisu Cenlre, Mitchell Avenue, Canley. Coventry. CV4 80Y. REGISTERED COMPANY NUMBER 08270063 (England and Wales) REGISTERED CHARITY NUMBER 1151280 AUDITORS Dafferns Audit Limited One EasoOd, Harry Weston Road, Binley Business Park, Binley. Coventry, CV3 2U8. BANKERS Nalwesl Bank Plc., Coventry City Office, 24 Broadgate. Coventry, CV1 1ZZ.
COVENTRY ANO WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 The Directors, who are also Trustees. present their report with the financial statements of the charitable company for the year ended 31 sl March 2025. PRINCIPAL ACTIVITY The principal activity of Ihe company in the year under review was the provision of sports and leisure and destination facilities for people within 2 fully acssible setting. DIRECTORS The Directors who have sepied during the year and since the year end were as follows.. Earl of Aylesford P. J. Oick M. A. E. Whitehall D. Moorcroft ADMINISTRATIVE INFORMATION The company is governed by ils Memorandum and Articles ofAssocialion. Company Number.. 08270063. The company is a registered charity {No. 11512801. CHARITABLE 08JECTIVES These stale that the overall objective is to provide and maintain facilities for the recreation and other leisure lime occupation of disabled and able bodied persons. POLICIES TO ACHIEVE OBJECTIVES To promote for the benefit of the public the provision of sports facilities and opportunilies through Coventry Sports Foundation and CV Life, who in turn deliver a range of inclusive experiences. Centre AT7, the Xcel Leisure Centre, Moat House Leisure and Neighbourhood Centre and the Alan Higgs Centre - community leisure and recreation cenlres that specifically programme and price activities lo attract participation from disabled and other under-T8pSen1ed groups in identified areas of deprivation within Coventry. The Wave - a destination walerpark venue, which includes some of the fflosl innovative inclusivity and accessibility design of any modem waterpark. In addition to the facility-based provision of sport from it5 facilities, the Foundation piovides opportunities and experlences through a number of initiatives and outreach programmes.. Go CV- Coventry Sports Foundation has worked with Coventry City Council lo develop, test and implement new city-wide access and loyally scheme, which seeks to provide beneficial use to people from Coventry. Community Oevelopment - the Foundation is unique in so far as it intemalises the function of Gofflmunrty development within a specific department, lo ensure thal a wide range of sports, activity and performing arts programmes are researched, programmed and delivered al a neighbourhood level. Access - the Foundalion delivers numerous events, tournaments and coaching programmes for disabled groups and individuals, along with activities to ensure that access to physical activity and well-being programmes reaches Ih03e that are most under-represenled. The Trustees have had regard to Charity Commission guidance on public benefit.
COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 ORGANISATIONAL STRUCTURE The Board of Directors are responsible for Ihe operational and financial management of the Trust. New Oirectors are recommended by individual directors and their appointment confirmed at a Directors, meeting. Upon the appointment of any new Directors, a full and bespoke induction process is planned in order to ensure complete farniliarily and understanding of the Trust's objectives and operation and the roles and responsibilities of the Directors. PAY AND REMUNERATION OF KEY MANAGEMENT PERSONNEL The company employs no staff. The Cofflpany Secretary acts as its key management and overseas day lo day activities through his role as Chief Executive Officer of Coventry Sports Foundation. ACTIVITIES ANO ACHIEVEMENTS DURING THE YEAR The Trust conlinu8d lo secure levels of charitable fundin9 in support of 113 objeclives. The Trust finalised the Lease and asswiated agreemenls with Coventry City Council throughout the year and continued ils rental and equipment leasing charges to Coventry Sports Foundalion. FINANCIAL REVIEW. RISKS AND RESERVES POLICIES The results for the year and financial position of the company are shown in the annexed financial statements. The Charity's assets continued to be used for the Trust's objectives. The majority of the Trusvs income is nomially in Ihe fom of rent received from Coventry Sports Foundation in SPeCt of Centre AT7 and the Alan Higgs Centre and the Trustees consider this income to be relatively secure for the future. In addition to this. the Trust receives a significant annual donation from one benefactor and the Trustees are conscious of the inherenl nsks that this presents. should funding from this source be reduced or withdrawn. The Trustees are mindful of their re5ponsibililies for the repair, replacement, and neWa1 of any major capital items within the premises of Centre AT7 and the Alan Higgs Centre and consider the current level of free reseNes of £2,222.571, being unreslricled investments and net current assets to be sufficient lo finan ongoing capllal replacements lo maintain the standard of its Premises This figure excludes the long-term liability of £1,079,509 which is to be paid quarterly over 30 years from income generated. PLANS FOR THE FUTURE The Trusl will continue to work with Coventry Sports Foundation throughoul the year lo monitor the impacl of the current economiG and cost of living challenges, which are pressurising consumer spend and choices.
COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 STATEMENT OF TRUSTEES'IDIRECTORS. RESPONSIBILITIES The Trustees (who are also Directors of Coventry and Warwickshire Award Trust for the purposes of company law) are responsible for preparing the Truslees. Annual Report and Ihe financial stalemenls in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepied Accounting Practice). Company law requires the Trustees to prepare financial slalements for each financial year, which give a Irue 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 these financial stalemenls. the Trustees are required to.. select suitable accountin9 policies and then appty them Consistently; observe the methods and principles in the Charities SORP 2019 (FRS 102).. make judgements and estimates that are reasonable and prudent.. slate whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements; prepare the financial slalements on Ihe going concern basis unle$5 It is inappropriate to presume that the charitable Company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any time the financial position of the charitable company and 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 sleps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financi81 inforrnalion included on the charitable company's website. Legislation in the United Kingdorn governing the preparation and dissemination of financial slalemenls may differ from legislation in other jurisdictions. STATEMENT OF DISCLOSURE OF INFORMATION TO AUDITORS We, the Directors of the company who held office at the dale of approval of these financial statements, as set out above, each confirm so far as we are aware that.. there is no relevant audit infomialion of which the company's auditors are unaware,. and we have taken all the steps that we ought to have taken as Directors in order to make ourselves aware of any relevant audit informallon and lo establish that the company's auditors are aware of that information. AUDITORS The auditors. Dafferns Audit Limited, will be re-appointed at the forthcoming Annual General Meeting The report of the d1ClorS has been prepared taking advantage of the small companies. exemption of section 415A of the Companies Act 2006. ON BEHALF OF THE BOARD O. Moorcroft - Director Dated.. 10th December 2025
INDEPENOENT AUDITOR'S REPORT TO THE MEMBERS OF COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE We have audited the financial statements of Coventry and Wativickshire Award Trust (the 'charitable company.) for Ihe year ended 31 March 2025 which compnse the Stslement of Financial Aclivilies, the Balance Sheet and notes to the financial statements. including a summary of significant accounting poliaes. The finanaal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Finanual Reporting Slandard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (Unrted Kingdom Generally Accepted Accounting Practi). In our opinion the financial statements.. give a true and fair view of the slate of the charitable company's affairs as al 31 March 2025, and of ils incoming fesources and application ol resources, including ils income and expenditure, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pradice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Bas18 for opinion We conducted our audit in accordance with Inlernalional Standards on Auditing {UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial slatemenls section of our report. We are independent of Ihe charitable company in accordance with the ethical requirements Ihat are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled Our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appiopriate to provide a basis for our opinion. Con¢lu8ions relating to going concern In auditing the financial slalemenls, we have concluded that the trustees, use of the going ncern basis of accounting in the preparation ol the financial statements is appropriate. Based on Ihe work we have performed. we have not identified any material nrtaInlieS relating lo events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of al least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in Ihe relevant sections of this report. Other infomiation The Trustees are responsible for the other infomation. The other infofmation comprises the infomiation induded In the Trustees, annual report, other than the financial slatements and our auditor's report Ihereon. Our opinion on the financial slalemenls does not cover the other infomiation and, except lo the extent otherwise explicitly stated in our pOrt, we do nol express any fom of assurance conclusion thereon. Our responsibility is lo read the other infomiation and. in doing so. consider whether the other information is materially inconsistenl with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether the is a material misstatement in the financial statements or a material misstatement of the other inforfflation. If, base(l on the work we have perfomied, we condude that there is a material misstatement of this olher information, we are required lo POrt that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the tfuslees, report (incorporating ihe directors, report) for the financial year for which the financial slalements are prepared is consislent with the financial statements; and the directors. report has been prepared in accordan with applicable legal requirements.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misslatemenls in the Directors, report. We have nothing to report in respect of the following matters in relation to which the Companie5 Ad 2006 requires us lo report to 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 Directors. remuneration specified by law are not rnade., or we have not reckived all the information and explanations we require for our audit; or the Trustees were not entitled to prepare the financial slalements in accordance wilh the srnall companies, regime and lake advantage of the small companies. exemptions in preparing the Directors, report and from the requirement to prepare a strategic report. Responsibilities of Trustee8 As explained more fully in the Trustees, responsibilities statement set out on page 4. the Trustees (who are also the Oireclors of the charitable company for the purposes of company lawl are sponSible for the preparation of the financial statements and for being satisfied that they give a tiue and fair view, and lor 5uGh Internal conlrol as the Trustees determine is necessary to enable the preparation of financial statements that a free from malerial misstaiemenl, whether due to fraud or error. .In preparing the financial slalements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative bul to do so. Auditor's responsibilities for tho audit of the financlal ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslalement. whether due to fraud or error. and lo issue an audilorfs report that inGlude5 our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delecl a material misstalemenl when It exists. Misslalemenls 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 of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and gUlatiOns. We design procedures in line with our responsibilities. outlined above, lo delecl material misstatements in respect of irregulanlies, induding fraud. Th8 specific procedures for this engagement and the extént lo which these arè capable of detecting irregularities. including fraud is detailed below.. Enquiry of management. and those charged with govemance around actual and potential litigation and claims: Enquiry of entity staff in compliance functions lo identify any instances of non-cofflp11an with laws and regulation5; Reviewin9 minutes of meetings of those tharged with governance- Reviewing financial statement disclosures and testing lo supporting documentation lo assess compliance with applicable laws and regulations. Performing audit work over the risk of management override of controls. including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of signfficant transactions outside the normal course of business and reviewing accounb.ng estimates for bias
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COVENTRY AND WARWICKSHIRE AWARO TRUST A COMPANY LIMITED BY GUARANTEE Auditor's re8ponsibilities for the audit of the financial statements {¢ont) Because of the inherent limitations of an audit, there is a risk Ihal we will not detect all irregularities. including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the evenls and transactions reflected in the financial slalements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealrnent, forgery, collusion. omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council'5 website at.. www.frc.org.uklauditorsresponsibililies. This description forms part of our auditor's Teport. This report is made solely lo the charitable company's members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charitable company's members those matters we are required lo stale lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and Ihe charilable company's members as a body, for our audit work. for this report, or for the opinions we have fonned. Geoffrey Cox BA FCA (Senior Statutory Auditor) For and on behalf of Daffern5 Audit Lirniled. Chartered Accountants, Registered Auditors One Eastwood. Harry Weston Road Binley Business Park, Coventry, CV3 2U8 Date..
COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (Includlng Income and Expenditure Account) FOR THE YEAR ENDED 31ST MARCH 2025 Unrnstrict•d funds Restricted funds (Note 141 Total 202S Total 2024 Income and endowments from: Donations and legacies Renlal income Investments 100,000 296,586 70.837 100.000 296,586 70,837 101.500 290.110 73.000 Total in¢om• and endowments 467,423 467.423 464.610 Expendlture on: Investment Managers fe8 Chantable expenditure 8.541 164.922 8,541 164,922 8,297 255.022 Total èxpenditurn 173.463 173,463 263,319 Gainl{Loss) on revaluation of investments 7.689 7.689 (68,892> Net income 301,649 301,649 132.399 Balances brought forward a11 $1 April 2024 2,716.855 1,670,951 4,387.806 4.255.407 Balances rried fopward at 31 st March 2025 3,018.504 1.670.951 4,689,455 4,387,806 Income and expendilure is wholly attributable to unrestncted fvnds in the Previous year. The notes on pages 1010 16 form part of these financial statements
Charity number 1151280 Comparby number 0827¢XI63 COVEPITRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31ST MARCH 2025 2025 2024 Notes FIXED ASSETS: Tangible assets Investments Cash awaiting investment 3,546.393 1.086,074 17.797 3,542.840 1,043.555 18.609 4,650.264 4,605,004 CURRENT ASSETS Debtors Cash at bank and in hand 10 59,369 1,291.530 117,774 1.037,946 1.350,899 1,155,720 LESS: CURRENT LIABILITIES CREDITORS.. amounts falling due within one year 1232,199) (246,350) NET CURRENT ASSETS 1,118,700 909,370 CREDITORS.. amounts falling due after more than one year 12 11,079.509) {1,126,568) NET ASSETS 4,689.455 4,387.806 REPRESENTEO BY: FUNDS.. Unrestricted Restricted 3.018,504 1,670,951 2,716,855 1,670.951 14 4,689,455 4,387,806 These financial slalemenls have been prepared in accordance with the special provisions of Part 15 of the Companies AGI 2006 relating lo small wmpanies and with the FRS102. The financial slatemenls were approved and authorised for issue by the Board on 10 December 2025. ON BEHALF OF THE BOARD: D. Moorcroft - Director The notes on pages 10 to 16 form part of these ffinancial statements
COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES: la) General information and basis of preparation Coventry & Warwiekshire Award Trust is a charity incorporated in England I Wales. In the event of the charity being wound up. the liability in respect of the guarantee is limited to £1 per member of Ihe charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal aclivilies are lo provide and maintain facilities for the recreation and other leisure ts'me occupation of disabled and able bodied persons. The chaiity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to chartties preparing iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102), the Chanlies Act 2011. the Companies Acl 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified lo include certain items al fair value. The finanaal statements are presented in sterling whith is the functional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial slalemenls are set out below. These policies have been consistently applied to all years presented unless otheiSe slated. b) Fund8 General funds are unrestricted fijnds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes lo the financial stalements. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the speofic fund. The aim and use of each restricted fund is set out in the notes lo the financial statements. c) Income recognition Grants and Donations Receivable All donations, grants and other similar in¢offle are recognised when the charity has enlillernenl to the lund3, any perfomance conditions allached lo the item(s) of income have been mel, it is probable that income will be received. and the amount can be measured reliably. Such is income is only deferred when.. the donor specifies that the grant or donation musl only be used in future accounting periods, or the donor has imposed conditions which musl be met before Ihe charity has unconditional enlillemenl Income from rental activities Income from rental activities is included in the period lo which the aclivty is provided. Investment income Interest and investment income is recognised when receivable. dl Expenditure recognition All expenditure is a¢¢ounled for on an accruals basis and has been classffjed under headings that aggregate all costs related lo the category. Expenditure is recognised where there is a legal or constructive obligation lo make payments to third parties, il is probable that the settlement will be required. and the amount of the obligation can be measured reliably. 11 is calegorised under the following headings.. Costs of raising funds., Expenditure on ¢harilable aclivilies., and Other expendilure represents those items nol falling into the categories above. io-
COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES {contl: dl Expenditure recognition Icontinuedl Governance costs. shown within professional fees, Comprise all costs involving the public accounlabilily of the harity and ils compliance with regulation and good practice. These costs include costs related lo ststulory audit and legal fees. el Tangible Fixed Assets Tangible fixed assets are capilalised and included at cost except for investment property which is included at Valuation. Assets in the course of construction includes relevant development expenditure. Depreciation is provided at the following annual rates in order to write off each asset over its e51imaled useful life. The annual rates prinGipally used are.. Fixtures and fittings 20Yo Straight line Plant and equipment 20Y• Straight line Sports equipment 20Yo Straight line The propety is being held for the provision of social benefit and hence is classified as Property, Plant & Equiprnenl. The Trustees Consider Ihal Depreciated Replacement Cost is the most appropnate methodology for the valuation of AT7 Centre. Given the nature of the assets, the Truslees believe that there is no reliable market value information available for use. fj Invesbnents Investments are recognised initially al fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured 81 fair value with changes reCgnISed in 'nel gains l (losses) on investments, in the SOFA if the shares are publicly Ir8ded or their fair value can otheiSe be measured reliably. Other inveslmenls are meaSUd al cost less impairment. gl Oebtors and creditors recelvable I payable within one year Debtors and creditors with no slated interest rale and receivable or payable within one year are recorded al Iransaction price. Any losses arising from impairment are regnised in expenditure. h) Operating leases Renlals payable and receivable under operating leases a charged to the SOFA on a straight line basis over the period of the lease. il Tax The charity is an exempt Gharity within the meaning of schedule 3 of the Charities Act 2011 and is conSided to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation tax purposes.
COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 INCOME FROM CHARITABLE ACTIVITIES: Unrestricted funds Restricted funds Total 2025 Total 2024 Rent receivable Equipment rental Commercial Rights.. The Alan Higgs Centre 154,000 42,586 100,000 154,000 42,588 100.000 129,000 61,110 100,000 296,586 296.586 290,110 Income from Charitable activities is wholly attributable lo Unrestricted funds in the previous year. INCOME FROM INVESTMENTS: Unre8tri¢t•d funds R¢$trlcted funds Totsl 2025 Total 2024 Bank interest receivable Investment income 28,277 42,560 28,277 42,560 19,571 53.429 70,837 70,837 73,000 Income from investments is wholly attributable to Unrestricted funds in the previous year. EXPENDITUREONCHARITABLE: ACTIVITIES Unrestrictod funds Restrlcted funds Total 2025 Totsl 2024 Professional charges Sundry expenses Depreciation Loan interest Insurance 9,248 9,248 45,004 54,819 50.999 49,850 54,819 50,999 49.850 110,321 53.172 46,514 164,922 164,922 255,022 Charitable expenditure is wholly atlribulable to Unrestricted funds in the previous year. OTHER DISCLOSURES: 2025 2024 Net incoming resources is stated after charging., Depreciation Profit on disposal Auditors, remuneration= Audit services Other services Trustees, expenses Directors, emoluments and other benefits etc. 54,819 110,321 1,825 1.360 1,735 1,295 No trustees (2024= nil) received either remuneration or expenses during the year. 12-
COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31ST MARCH 2025 TAXATION: No liability to UK corporation tax arises on ordinary activities for the year ended 31st March 2025 nor for the year ended 31st Marth 2024. STAFF COSTS: There We no persons employed by the Charity during the Current year and previous year. TANGIBLE FIXED ASSETS.. Pro L8a$èhold develo men C05 and an ulldin ort• ui COST.. Al 1st April 2024 Additions Disposal 400.0(NJ 3,088,380 205.145 546.112 93,636 4,333,273 58,372 58,372 At 3111 March 2025 400.CQO 3,088,380 205,145 546,112 152,008 4,391,645 DEPRECIATION: Al 1 W April 2024 Charge for the year Elimination on disposal 205,145 496,155 49.593 89,133 5,226 790,433 54,819 At 3111 March 2025 205,145 545,748 94,359 845.252 NET BOOK VALUE: At 3111 March 2025 4Crf),000 3,088,380 57,649 3.546.393 At 319t March 2024 41JO.000 3,088,380 49,957 4,503 3.542,840 The land comprising 1.11 acres owned by the Coventry and Warwickshire Award Trust is shown al the nominal £1 consideration paid by the Trust. Centre AT7, a sports centre with an original total floor area of 24,000 square feet was built on the land and was funded entirely by the Urban Programme, jointly financed by the Government and Coventry City Council. The extension to the sports centre was completed in 1999 and was funded by a grant from the English Sports Council. The land and buildings are not shown al market value. The freehold reversion was conveyed lo the Trust for nominal consideration with the restriction that it cannot be disposed of for Irue value. The Trustees therefore consider, having taken professional advice. it is appropriate lo carry the property al its nominal value of £1 paid for the land plus the expenditure on the extension as above. On 1Ph March 2016. the long leasehold land and buildings known as The Alan Higgs Centre were transferred by the Alan Edwards Higgs Charity to Coventry and Wamickshire Award Trust for £Nil consideration subject lo reslricled covenants. The lease is for 150 years from 171h September 2003. This property has £Nil value in the accounts. At this same date, 171h March 2016, a charge on the long leasehold land and buildings known as the Alan Higg5 Centre was registered in favour of the Alan Edwards Higgs Charity. Leasehold development costs relate to the cost for consent for certain developments on part of the site at The Alan Higgs Cenlre. These are carried at cost and will be amortised over the life of any future development. In 2018 a new indoor pitch building was built al The Alan Higgs Centre at a cost of £1.4m. 13
COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 INVESTMENTS: Llsted In¥tment$ Value as at 1s1 April 2024 Purchases Sales proceeds Revaluation 1,043.555 460,633 (425.803) 7.689 Value at 31# March 2025 1,086,074 Investments at fair value comprise.. Flxed interest Equities Other Money Market 331,422 540.050 154,602 60.000 1.086.074 10. DEBTORS: 2025 2024 Trade debtors Other debtors VAT 1.940 54,850 2.579 108,715 9,059 59.369 117,774 11. CREDITORS: amountg falllng due withln one year 2025 2024 Loan Deferred income Trade creditors Accruals Other creditors 40,595 91,500 96,919 3,185 40,595 60,250 128,229 3,030 14,246 232,199 246,350 12. CREDITORS: amounts falling due after more than one year 2025 2024 Loan Oeferred inrne 951,509 128,000 994,568 132,000 1,079.509 1,126.568 The loan was repayable over 30 years and interest is charged at 5Yo, and has 25.5 years remaining. The loan indudes £789,131 which falls due after five years and is payable by inslalments. The loan is secured by a floating charge over the assets of the tharity. 14
COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 13. DEFERRED INCOME: 202S 2024 Balance 1 April 2024 Release to income during year Additions 192,250 (60,250) 87.500 196,250 (60.250) 56.250 8alanc8 31 March 2025 219,500 192.250 Due within one year Due within 1-5 years Due after 5 years 91,500 16,000 112.000 60,250 16.000 116,000 219,500 192,250 Income has been deferred in respect of lease incentives which a being amortised over the period of the lease, and in respect of rental income received in advance. 14. RESTRICTED FUNOS: 8alan¢• 1 April 2024 Income Expendlture Balance 31 M•r¢h 2025 PfOl8Ct fund 1,870,951 1.670,951 The Project fund represenls the amount expended on the completed expan5i0n of the AT7 sports cenlre after deducting related depreualion. The expansion was mainly funded by a grant from the English Sports Council. 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS: Unre#tri¢t•d funds Restricted fund Total funds Fund balances al 31st March 2025 are represenled by.. Investments Tangible fixed assets Net current assets Long term liabilities 1,103.871 1,875,442 1.118.700 (1.079,509) 1.103,871 3.546.393 1,118,700 (1,079,509) 1,670,951 Tolal net assets 3,018,504 1,670,951 4.689.455 16. RELATED PARTY TRANSACTIONS: There are no related paty transactions in Ihe year (2024.. £nill. 15-
COVENTRY AND WARWICKSHIRE AWARD TRUST A COMPANY LIMITED 8Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 17. OPERATING LeA8E COMMITMENTS: Legsor The Alan Higgs Centre has been leased to Coventry Sports Foundation from 7 March 2016 to 31 March 2060. The rent receivable is £50.CKIO per annum. Centre AT7 has been leased to Coventry Sports Foundation from 1 November 2019 to 31 March 2060. The rent receivable is £75.000 per annum. Sporting equipment has been leased to Coventry Sports Foundation undef an agreement ending in 2026. The rent recewable is £34,272 per annum. Minimum lease receivable5 under non-cancellable operating leases fall due as follows: 2025 2024 <1 year 1-5 years
5 years 159,272 500,000 3,775,000 168,C60 534,272 3,900,000 4,434,272 4,602,332 18. FUNDRAISING REGULATOR STATEMENT OF COMPLIANCE: Coventry and Warwickshire Award Trust does not contract lo a third party to undertake any fundraising on its behalf. The charity does not employ a Fundraising Officer, We have received no fundraising complaints during the year. 16