REGISTERED CHARITY NUMBER: 1152842 Chorlered Accountonls Report of the Trustees and Financlal Statements for the Year Ended 31 May 2024 for Rampworld Cardlff ftodnoi House Greenwcrfxl Close CoTcJlfl Gole Buslress Ftjrk Coialll CF23 8M BPU Limited Chartered Accountants Radnor House Greenwood Close Cardiff Gate Business Park Cardiff CF23 8AA RegiSTei@d lotony￿ Work In ahe UKaré Wth1Èd Tot u iotvJe ¢1 IrwestrtEnt M51rhe￿ kn#11￿¢ 0tCTharte￿0 N£¢owionts In on4 Wg bpu Ctrurtet* kcounionis a IirKJiw rorts of 8PU Itd Corrwny Numbgt 3723948 Wii&tereu In W0￿S A hstot OiTEYILY51S frryntt ¢*ied business potential unleashed Rampworld Cardiff Contents of the Financial Statements for the Year Ended 31 May 2024 Page Report of the Trustees Independent Examiner's Report Statement of Flnanclal Actlvltles Balance Sheet Cash Flow Statement Notes to the Cash Flow Statement Notes to the Financial Statements 9 to 15 Detalled Statement of Flnanclal Actlvltles 16 Rampworld Cardiff Report of the Trustees for the Year Ended 31 May 2024 The trustees present their report with the financial statements of the charity for the year ended 31 May 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to 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). STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document and deed of trust. Recruitment and appolntment of new trustees Electlon of the trustees The trustees shall be subject to election or re-election every 3 years. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1152842 Prlncipal address Unit B Parc Ty Glas Llanishen Cardiff CF14 5DU Trustees J D Carpenter J T D Shaughnessy M Carpenter D Humphries J Stoneman M Newberry Independent Examiner Nicholas Matthew Toye FCA BPU Limited Chartered Accountants Radnor House Greenwood Close Cafdiff Gate Business Park Cardiff CF23 8AA Rampworld Cardiff Report of the Trustees for the Year Ended 31 May 2024 OBJECTIVES AND ACTIVITIES Objectives, aims and public beneflt The promotion of community participation in healthy recreation in particular by the provision of an indoor facility for BMX cycling, scootering, skateboarding and other wheeled and non-wheeled sports. Now that the facility has become established it is the trustees, intention in the future to further improve the activities, facilities and to undertake new projects away from the main Ramp Park. ACHIEVEMENT AND PERFORMANCE Review of Progress of the Charity Rampworldcardiff has continued it's mission of providing a well maintained, safe, indoor facility for wheeled action sports. Indeed we reached the significant Ten years old milestone in September 2023. In this period we have seen significant cost increases due to high inflation, Payroll, pensions and other affected costs. We also renewed our lease in this period. The landlord pushed hard for an increase from £95k per year plus £1 Ok insurance to £165k per year plus £12k insurance. We made it clear that our income could not sustain such an increase and we would have to leave our premises if it was applied. The landlord settled for an increase to £105k plus £12k insurance but would only offer an unsecured three year lease informing us a large increase would be coming in September 2026. In this period we again hosted a round of the British Nation Freestyle Bmx Series supported by British Cycling. Rampworld locals won this National BMX series in both the Under 15 Girls, Ellie Gunnels and Under 15 Boys, Harry Gorman. Bmx and skateboarding became Olympic disciplines at the Tokyo games in 2020 and a Gold medal was secured by a female Freestyle scooter rider turned Freestyle 8mx rider, Charlotte Worthington, trained and supported by British Cycling with Sport England funding. In this accounting period equivalent skateparks to Rampworld in England and Scotland have been assisted with upwards of £2.7M for Freestyle BMX facilities development with funds from Sport England facilitated by British Cycling. No such development assistance has been forthcoming in Wales. We have been informed by British Cycling that any such assistance in Wales will not come from British Cycling and must come from the Welsh Cycling, Sport Wales avenue. We have begun talking to Welsh Cycling regarding similar assistance. We have also been lobbying British Cycling to permit their Freestyle BMX coaching module to be used to coach Freestyle scooters. Fundamentally these sports are the same at beginner level and Scoot GB will not have a coaching course anytime soon and will never be able to provide the level of education support British Cycling have. The pathway from Stunt scooters to Bikes is well proven and should be recognised as such. Rampworld Cardiff Report of the Trustees for the Year Ended 31 May 2024 FINANCIAL REVIEW Summary flnanclal posltlon The charity recorded a surplus of £17.981 (2023: surplus £14.998) for the year. Totsj incoming resource5 for the y&ar was £62L324 (2023: £539,307). There were no donations In the current year. Revlew of flnancial performance The surplus in the year is within budget and income gener*d frcAn users of the facility fs paying Ihe ongoirKJ costs of the facility and the further bulldiNJ requirements. Reserves pollcy The charlty Intends to retain surpluses In order to finan￿ additionaj activities and to leave a working capital element to maintain the charities facilities and to cover future running costs to ensure contlnulty. 61s..l.tJz Approved ty order ot the board of trustees .................... ........................ and signed on Its behalf by.. Car enter - Trustee Independent Examiner's Report to the Trustees of Rampworld Cardiff Independent examinerfs report to the trustees of Rampworld Cardiff I report to the charity trustees on my examination of the accounts of Rampworld Cardiff (the Trust) for the year ended 31 May 2024. Chorteied Accountants Responslbllltles and basls of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. Independent examlnerfs statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confim that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. Radnor House Greenwood Close Coialff Gale Bu51ness Park Coidlff CF23 8AA accounting records were not kept in respect of the Trust as required by Section 130 of the Act. or the accounts do not accord with those record8; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable proper understanding of the accounts to be reached. Nicholas Matthew Toye FCA BPU Limited Chartered Accountants iered to eoip¢on owJl*w(¥k the UK ancy ieguloted IOI o r¢tye Of Irveslrnenl ow1￿$sac1￿t*S bv 1h6 In￿￿t￿t+ of chan@￿A¢Count¢￿tS In E￿lan(j ond W¢AO5. Date: bpu Ch¢lt*r8(JA¢C￿￿tQrnts I o trod￿g rome o18PU L CcYnFoTryNurr*)91 3723948 Qepsi￿ea fft W¢A*i. Ilsl of L5avakwe Iitsm i Istei¥dOIts fjb￿e business potential unleashed Rampworld Cardiff Statement of Flnancial Activities for the Year Ended 31 May 2024 2024 Unrestricted fund Total funds 2023 Notes INCOME AND ENDOWMENTS FROM Activities for generating funds 621,324 539,307 EXPENDITURE ON Costs of generating funds 180,376 112,915 Charltable actlvltles Charitable activities 267,668 251,006 Other resources expended 155,299 160,388 Totsl 603,343 524,309 NET INCOME 17,981 14,998 RECONCILIATION OF FUNDS Total funds brought forward 639,511 624,513 TOTAL FUNDS CARRIED FORWARD 667,492 639,511 The notes form part of these financial statements RampWoTld Cardlff Balance Sheet 31 May 2024 2024 Unrestrlcted fund Toiaj funds 2023 Notes FIXED ASSETS Tangible &ssets 201 8.268 CURRENT ASSETS Stod 18,203 1,793 Net cash used in operatlons 25,170) 20,687) ANALYSIS OF CHANGES IN NET FUNDS At 116123 Cash flow At 3115124 Net cash Cash at bank and in hand 247,052 25,170) 221882 247,052 25,170) 221,882 Total 247,052 25,170) 221,882 The notes form part of these financial statements Rampworld Cardiff Notes to the Financial Statements for the Year Ended 31 May 2024 ACCOUNTING POLICIES Basis of preparing the financlal statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to 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),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Incomlng resources All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tanglble flxed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Indoor equipment Plant and machinery Motor vehicles 200/0 Straight line 33% 500/0 Straig ht line 25 % straight line Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxatlon The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Hire purchase and leasing commltments Rentals paid under operating leases are charges to the Statement of Financial Activities on a straight line basis over the period of the lease. continued... Rampworld Cardiff Notes to the Flnancial Statements - continued for the Year Ended 31 May 2024 ACTIVITIES FOR GENERATING FUNDS 2024 2023 Admissions, cafe & shop sales 621,324 539,307 CHARITABLE ACTIVITIES COSTS Direct Costs Charitable activities 267,668 TRUSTEES, REMUNERATION AND BENEFITS 2024 2023 Trustee's salary 60,384 57,401 The trustee's salary was paid to Jason Carpenter. This was in recognition that, in addition to the overall management of the charity, he was closely involved in all aspects of the day to day running of the park including managing and covering for staff, carrying out repairs and building the ramps and track. The Charity Commission have consented to the employment of Mr Carpenter and are satisfied that his employment is both necessary and in the best interests of the charity. Trustees, expenses There were no trustees, expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 198,223 53,055 16,120 189,488 47,421 14,097 267,398 251,006 The average monthly number of employees during the year was as follows: 2024 11 2023 12 Support staff The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 10 continued... Rampworld Cardiff Notes to the Financial Statements - continued for the Year Ended 31 May 2024 STAFF COSTS - continued 2024 2023 £60,001- £70,000 Key management personnel Total cost paid out by the Charity in relation to key management personnel totalled £67,461 {2023: £64,288) for the year. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Activities for generating funds 539,307 EXPENDITURE ON Costs of generating funds 112,915 Charltable actlvities Charitable activities 251,006 Other resources expended 160,388 Total 524,309 NET INCOME 14,998 RECONCILIATION OF FUNDS Total funds brought forward 624,513 TOTAL FUNDS CARRIED FORWARD 639,511 continued.. Rampworld Cardiff Notes to the Financial Statements - continued for the Year Ended 31 May 2024 TANGIBLE FIXED ASSETS Indoor equipment Plant and machinery Motor vehicles Totals COST At 1 June 2023 and 31 May 2024 113,125 41,837 38,893 193,855 DEPRECIATION At 1 June 2023 Charge for year 113,125 41,837 30,625 2,067 185,687 2,067 At 31 May 2024 113,125 41,837 32,692 187,654 NET BOOK VALUE At 31 May 2024 6,201 6,201 At 31 May 2023 8.268 8,268 STOCKS 2024 2023 Finished goods 399,183 356,686 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors VAT 39,500 34,380 1,152 39,500 35,532 12 continued... Rampworld Cardiff Notes to the Financial Statements - continued for the Year Ended 31 May 2024 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 9,274 8,027 11. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2024 2023 Within one year Between one and five years 105,000 144,375 35,000 249,376 35,000 12. MOVEMENT IN FUNDS Net movement in funds At 3115124 At 116123 Unrestricted funds General fund 639,511 17,981 657,492 TOTAL FUNDS 639,511 17,981 657,492 Net movement in funds, included in the above are as follow￿. Incoming Resources resources expended Movement in funds Unrestricted funds General fund 621,324 (603,343) 17,981 TOTAL FUNDS 621,324 603,343) 17,981 13 continued... Rampworld Cardiff Notes to the Financial Statements - continued for the Year Ended 31 May 2024 12. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 3115123 At 116122 Unrestricted funds General fund 624,513 14,998 639,511 TOTAL FUNDS 624,513 14,998 639,511 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended Movement in funds Unrestricted funds General fund 539,307 {524,309) 14,998 TOTAL FUNDS 539,307 524,309) 14,998 A current year 12 months and prior year 12 months combined position is as follows. Net movement in funds At 3115124 At 116122 Unrestricted funds General fund 624,513 32,979 657,492 TOTAL FUNDS 624,513 32,979 657,492 14 continued... Rampworld Cardiff Notes to the Financial Statements - continued for the Year Ended 31 May 2024 12. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming Resources resources expended Movement in funds Unrestricted funds General fund 1,160,631 (1,127,652) 32,979 TOTAL FUNDS 1,160,631 (1,127,652) 32,979 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 May 2024. 15 Rampworld Cardiff Detailed Statement of Financial Activities for the Year Ended 31 May 2024 2024 2023 INCOME AND ENDOWMENTS Actlvities for generating funds Admissions, cafe & shop sales 621,324 539,307 Total Incoming resources 621,324 539,307 EXPENDITURE other trading activities Cafe expenses Shop expenses 65,805 114,189 66,306 46,609 179,994 112,915 Charitable activities Trustees, salaries Wages Social security Pensions Staff training 60,384 137,839 53,056 16,120 270 57,401 132,087 47,421 14,097 267,668 251,006 Other resources expended Renl & service charges Insurance Light & heat Telephone & internet Motor expenses Sundry expenses Legal & professional Payroll services & accountancy Independent examiner's fee Depreciation 118,037 15,622 7,406 718 1,964 796 1,150 2,950 4,971 2,067 115,319 14,054 17,400 674 2,872 1,246 3,984 4,839 155,681 160,388 Total resources expended 603,343 524,309 Net income 17,981 14,998 This page does not form part of the statutory financial statements 16