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2023-07-31-accounts

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

REGISTERED CHARITY NUMBER: 1153993

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

WATERFRONT SPORTS & EDUCATION ACADEMY

AKS Advisers Fourth & Fifth Floors 14-15 Lower Grosvenor Place London SW1W 0EX

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 20
Detailed Statement of Financial Activities 21 to 22

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2023

TRUSTEES Mr M Patel
Mr M Lewis (resigned 15.4.24)
Ms T Burgess
PRINCIPAL ADDRESS Unit 15 Lister Building
Marjorie Street
Leicester
LE4 5GY
REGISTERED CHARITY 1153993
NUMBER
INDEPENDENT EXAMINER AKS Advisers
Fourth & Fifth Floors
14-15 Lower Grosvenor Place
London
SW1W 0EX

Page 1

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

The trustees present their report with the financial statements of the charity for the year ended 31 July 2023. 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).

Page 2

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

OBJECTIVES AND ACTIVITIES Objectives and aims

1.1 Mission of the organisation:

To assist disadvantage groups and individuals achieve a better quality of life by providing outcome orientated solutions to social issues that are innovative and person cantered

1.2 Values of the organisation

Person Centred

Build links and community cohesion across ethnicity, culture and gender Equality

Partnerships Adaptability and flexibility Transparency and openness Continual improvement Communication

1.3 Objectives and Activities

1 . To create a business which will:

Provide quality boxing, sporting and fitness activities Provide good quality volunteering opportunities Works with a range of agencies and partners to address social issues Support disadvantages and challenging young people

Enable users to be involved in its management and delivery

2. To create partnerships with private, public and voluntary organisations to:

Address key social issues facing the young people and local community Facilitate good community cohesion

Support key priorities for the city and local area, e.g. crime and disorder and raising education attainment Improve well being across community groups

3. To become a sustainable organisation by:

Generating income from our activities

Reviewing and evaluating our mission on a regular basis Reviewing and evaluating our service on a regular basis

4. Objectives:

4.1 Objectives (2016/2017)

1 Administration Manager

4.2 Medium term objectives (2017/18):

4.3 Medium term objectives (2018/19):

Page 3

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

4.4 Medium term objectives (2019/20):

4.5 Medium term objectives (2020/21):

4.6 Medium term objectives (2021/22):

Leicestershire

4.7 Medium term objectives (2022/23):

Significant activities

Our Significant Activities are Boxing and youth activities which we use as vehicles to engage with young people, and doing keep fit sessions for the local community.

Public benefit

Recreational Boxing Session 3x a week August 22-July 23 University of Leicester Boxing Society October 22 - May 23

Delivery of boxing across city base secondary Schools - October 22 - June 23 England Boxing Inclusive Hub - November 22 -July 23 Winter HAF - December 2022 Active Together "Lets get Moving Programme' - February 23 -July 23 Delivery of Boxing in FE Alternative Education Provision - March 23 - July 23 Easter HAF - April 2023

Delivery of Boxing in South Leicestershire secondary schools - April 23 - July 23 Summer HAF Programme July 2023

Page 4

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

ACHIEVEMENT AND PERFORMANCE Charitable activities

Recreational Boxing Session 3x a week Winter HAF University of Leicester Boxing Society Delivery of boxing across city base secondary Schools England Boxing Inclusive Hub Active Together "Lets get Moving Programme' Delivery of Boxing in FE Alternative Education Provision Easter HAF Programme Delivery of Boxing in South Leicestershire secondary schools Summer HAF Programme

Fundraising activities

We will be delivering boxing, keep fit sessions to raise money

As well as writing bids for funding from organisation

FUTURE DEVELOPMENTS

Looking for Funding Bids to develop more activities for disadvantage young people

Developments

We will be looking to maintain & increase our ties with local community organisations

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

Organisational structure

Board of Trustees 3
Centre Manager 1
DEvelopment Officers 2
Apprentices 0
Volunteers
Boxing Coaches 5
Youth Workers 2
General Volunteers 7

We have 3 Trustees at Waterfront Sport & Education Academy who over see's the project.

The Centre Manager is our only full time worker at present she take care of funding bids and the day-to-day running of the centre and reports back to the Trustees. All other personnel are part time workers.

Page 5

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT 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.

The Board conducts a general annual review of the risks the charity may face and it reviews its systems and procedures to mitigate those risks it identifies.

Specific requirements will arise from time to time under risk management procedures according to the undertakings to be embarked upon in any year. Where an exposure arises through, for example, major property refurbishment works, it is invariably the case that specialist professional advice will be sought and followed.

The Board believes that with its periodic review of financial management and its quarterly meetings with Centre manager, effective measures are in place to monitor the creation of any new risks which may arise and to attend to their mitigation.

Page 6

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

GOING CONCERN

As part of our ongoing efforts to ensure long-term sustainability, we have continued to implement a comprehensive restructure of our business plan. A key development in this process was the CEO stepping down from the payroll at the end of July 2023, transitioning into a voluntary capacity from August 2023. This move reflects our strategic decision to reduce operational costs while maintaining strong leadership.

As of now, our operational team consists of one sessional worker, with all other roles filled by volunteers, except during project-based work, for which staff are hired as needed. This flexible staffing model allows us to scale resources appropriately without compromising service quality.

We have diversified our income streams through several initiatives:

This work not only contributes to positive social outcomes but also generates income for the organisation.

Looking ahead, our charitable work will remain unaffected. We are committed to developing innovative solutions and delivering services that respond to the evolving needs of our community. With a streamlined team, diversified funding, and an expanding presence across the city and county, Waterfront is well-positioned to remain a relevant and impactful organisation.

FINANCIAL REVIEW

Details of the current year's results appear in the accounts from page 9.

The total incoming resources for the year amounted to £82,452 (2022: £116,762). The main items of income are from grants of £15,471 (2022: £44,000) and Income-school of £38,892 (2022: £24,553). Grants are to be utilised for premises improvement, sports and administration support.

The total resources expended for the year amounted to £108,468 (2022: £138,451). The main items of expenditure are Wages cost £33,374 (2022: £54,128) and property rental £31,160 (2022: £32,400). Governance costs totalling £27,408 (2022: £25,070) are held to be satisfactory for the size and complexity of the charity's operations (financial details can be found on page 21).

21 May 2025

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.................................................................

Trustee

Page 7

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WATERFRONT SPORTS & EDUCATION ACADEMY

Independent Examiner's Report to the Trustees of Waterfront Sports & Education Academy

I report to the trustees on my examination of the financial statements of Waterfront Sports & Education Academy ('the charity') for the year ended 31 July 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and related notes.

This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns 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 a proper understanding of the financial statements to be reached.

Ashish Kirtikumar Shah ACA

AKS Advisers Fourth & Fifth Floors 14-15 Lower Grosvenor Place London SW1W 0EX 21 May 2025 Date: .............................................

Page 8

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023

----- Start of picture text -----
31.7.23 31.7.22
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
-
Donations and legacies 27,917 27,917 33,750
Charitable activities
-
Grant for Wages 13,931 13,931 42,911
Alternative Educations 1,540 - 1,540 -
General
- - -
15,540
Other trading activities 2 38,892 - 38,892 24,553
Investment income 3 172 - 172 9
Total 82,452 - 82,452 116,763
EXPENDITURE ON
Charitable activities
-
Grant for Wages 33,374 33,374 63,575
Alternative Educations 12,680 - 12,680 -
General
-
62,414 62,414 74,877
Total 108,468 - 108,468 138,452
-
NET INCOME/(EXPENDITURE) (26,016) (26,016) (21,689)
RECONCILIATION OF FUNDS
Total funds brought forward 46,913 3,272 50,185 71,874
TOTAL FUNDS CARRIED FORWARD 20,897 3,272 24,169 50,185
----- End of picture text -----

The notes form part of these financial statements

Page 9

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

BALANCE SHEET 31 JULY 2023

Notes
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors: amounts falling due within one year
7
Cash at bank and in hand		 Unrestricted
Restricted
funds
funds
£
£
32,716
-
9,859
-
37,775
-		 31.7.23
31.7.22
Total
Total
funds
funds
£
£
32,716
41,435
9,859
4,583
37,775
81,091
CREDITORS
Amounts falling due within one year
8		 47,634
-
(26,959)
3,272		 47,634
85,674
(23,687)
(38,788)
NET CURRENT ASSETS 20,675
3,272		 23,947
46,886
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one
year
9		 53,391
3,272
(32,494)
-		 56,663
88,321
(32,494)
(38,136)
NET ASSETS 20,897
3,272		 24,169
50,185
FUNDS
12
Unrestricted funds
Restricted funds		 20,897
46,913
3,272
3,272
TOTAL FUNDS 24,169
50,185

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 21 May 2025

............................................. Trustee

The notes form part of these financial statements

Page 10

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2023

----- Start of picture text -----
31.7.23 31.7.22
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 (44,417) (10,087)
-
Interest paid (938)
Net cash used in operating activities (45,355) (10,087)
Cash flows from investing activities
Interest received 172 9
Net cash provided by investing activities 172 9
Cash flows from financing activities
Loan repayments in year (5,641) (5,470)
Net cash used in financing activities (5,641) (5,470)
Change in cash and cash equivalents
in the reporting period (50,824) (15,548)
Cash and cash equivalents at the
beginning of the reporting period 2 80,860 96,408
Cash and cash equivalents at the end
of the reporting period 2 30,036 80,860
----- End of picture text -----

The notes form part of these financial statements

Page 11

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2023

----- Start of picture text -----
1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.7.23 31.7.22
£ £
Net expenditure for the reporting period (as per the Statement
of Financial Activities) (26,016) (21,689)
Adjustments for:
Depreciation charges 8,718 11,483
Interest received (172) (9)
Interest paid 938 -
Increase in debtors (5,276) (384)
(Decrease)/increase in creditors (22,609) 512
Net cash used in operations (44,417) (10,087)
2. ANALYSIS OF CASH AND CASH EQUIVALENTS
31.7.23 31.7.22
£ £
Cash in hand 445 205
Notice deposits (less than 3 months) 37,330 80,886
Overdrafts included in bank loans and overdrafts falling due within one
year (7,739) (231)
Total cash and cash equivalents 30,036 80,860
3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)
At 1.8.22 Cash flow At 31.7.23
£ £ £
Net cash
Cash at bank and in hand 81,091 (43,316) 37,775
Bank overdraft (231) (7,508) (7,739)
80,860 (50,824) 30,036
Debt
-
Debts falling due within 1 year (5,469) (5,469)
Debts falling due after 1 year (38,136) 5,642 (32,494)
(43,605) 5,642 (37,963)
Total 37,255 (45,182) (7,927)
----- End of picture text -----

The notes form part of these financial statements

Page 12

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial 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.

Preparation of the financial statements on a going concern basis

The financial statements are drawn up on the going concern basis which assumes the charity will continue in operational existence for the foreseeable future. The Board of Trustees have given due consideration to the working capital and cash flow requirements of the charity. The Board of Trustees consider the charity's current and forecast cash resources to be sufficient to cover the working capital requirements of the charity for at least 24 months from the date of signing the financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on reducing balance Fixtures and fittings - 25% on reducing balance Computer equipment - 33% on reducing balanc Long leasehold - 10% on reducing cost

Taxation

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.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Page 13

continued...

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. OTHER TRADING ACTIVITIES

Unrestricted
Restricted
funds
funds
£
£
Income-Schools
38,892
-
INVESTMENT INCOME
Unrestricted
Restricted
funds
funds
£
£
Deposit account interest
172
-		 31.7.23
Total
funds
£
38,892
31.7.23
Total
funds
£
172		 31.7.22
Total
funds
£
24,553
31.7.22
Total
funds
£
9

3. INVESTMENT INCOME

Interest on cash balance is accounted for when received and accrued when entitled to the income.

4. TRUSTEES' REMUNERATION AND BENEFITS

Mr. M Burgess remuneration was Nil (2022:£4,985) and Ms T Burgess remuneration was £32,400 (2022:£15,283).

Trustees' expenses

There were no expenses paid to trustees for the year ended 31 July 2023 and year ended 31 July 2022.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
33,750
Charitable activities
Grant for Wages
12,911
General
15,540
Other trading activities
24,553
Investment income
9
Total
86,763
EXPENDITURE ON
Charitable activities
Grant for Wages
33,752		 Restricted
funds
£
-
30,000
-
-
-
30,000
29,823		 Total
funds
£
33,750
42,911
15,540
24,553
9
116,763
63,575

Page 14

continued...

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

----- Start of picture text -----
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£ £ £
General
74,700 177 74,877
Total 108,452 30,000 138,452
-
NET INCOME/(EXPENDITURE) (21,689) (21,689)
RECONCILIATION OF FUNDS
Total funds brought forward 68,602 3,272 71,874
TOTAL FUNDS CARRIED FORWARD 46,913 3,272 50,185
6. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£ £ £
COST
At 1 August 2022 and 31 July 2023 20,750 275 94,548
DEPRECIATION
At 1 August 2022 8,497 255 68,883
Charge for year 1,226 5 6,416
At 31 July 2023 9,723 260 75,299
NET BOOK VALUE
At 31 July 2023 11,027 15 19,249
At 31 July 2022 12,253 20 25,665
Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 August 2022 and 31 July 2023 6,500 18,696 140,769
DEPRECIATION
At 1 August 2022 5,477 16,222 99,334
Charge for year 255 817 8,719
At 31 July 2023 5,732 17,039 108,053
NET BOOK VALUE
At 31 July 2023 768 1,657 32,716
At 31 July 2022 1,023 2,474 41,435
----- End of picture text -----

Page 15

continued...

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

----- Start of picture text -----
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£ £
Trade debtors 4,100 -
Prepayments and accrued income 5,759 4,583
9,859 4,583
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£ £
Bank loans and overdrafts (see note 10) 13,208 5,700
Other creditors 10,479 33,088
23,687 38,788
9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£ £
Bank loans (see note 10) 32,494 38,136
10. LOANS
An analysis of the maturity of loans is given below:
31.7.23 31.7.22
£ £
Amounts falling due within one year on demand:
Bank overdrafts 7,739 231
Bank loans 5,469 5,469
13,208 5,700
Amounts falling between one and two years:
Bank loans - 1-2 years 5,469 5,469
Amounts falling due between two and five years:
Bank loans - 2-5 years 27,025 32,667
----- End of picture text -----

Page 16

continued...

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years
12.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
BBC Children in Need
LCC - Ward
Incredible Investion
The Henry Smith Charity
Samworth Bros
WSE Academy Ltd
Restricted funds
GFW-R
Samworth Bros
Box Smart
TOTAL FUNDS		 At 1.8.22
£
15,313
10,000
1,000
9,600
10,000
1,000
-
46,913
(16,800)
13,530
6,542
3,272
50,185		 31.7.23
£
30,000
103,333
-
133,333
Net
movement
in funds
£
(23,349)
-
-
-
-
-
(2,667)
(26,016)
-
-
-
-
(26,016)		 31.7.22
£
30,000
120,000
4,000
154,000
At
31.7.23
£
(8,036)
10,000
1,000
9,600
10,000
1,000
(2,667)
20,897
(16,800)
13,530
6,542
3,272
24,169

Page 17

continued...

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Street Games UK
WSE Academy Ltd
Leicestershire County Council-Active
Together Apprenticeship Grant
PRINCESS TRUST
ED BILBEY FUND-DEFEBRILLATOR
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
BBC Children in Need
LCC - Ward
Incredible Investion
The Henry Smith Charity
Samworth Bros
Restricted funds
GFW-R
Samworth Bros
Box Smart
TOTAL FUNDS		 Incoming
resources
£
39,065
6,129
27,916
7,570
1,540
232
82,452
82,452
At 1.8.21
£
37,002
10,000
1,000
9,600
10,000
1,000
68,602
(16,800)
13,530
6,542
3,272
71,874		 Resources
Movement
expended
in funds
£
£
(62,414)
(23,349)
(6,129)
-
(30,583)
(2,667)
(7,570)
-
(1,540)
-
(232)
-
(108,468)
(26,016)
(108,468)
(26,016)
Net
movement
At
in funds
31.7.22
£
£
(21,689)
15,313
-
10,000
-
1,000
-
9,600
-
10,000
-
1,000
(21,689)
46,913
-
(16,800)
-
13,530
-
6,542
-
3,272
(21,689)
50,185

Page 18

continued...

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Street Games UK
WSE Academy Ltd
Leicestershire County Council-Active
Together Apprenticeship Grant
Restricted funds
Samworth Bros
TOTAL FUNDS		 Incoming
resources
£
40,102
4,547
33,750
8,364
86,763
30,000
116,763		 Resources
Movement
expended
in funds
£
£
(61,791)
(21,689)
(4,547)
-
(33,750)
-
(8,364)
-
(108,452)
(21,689)
(30,000)
-
(138,452)
(21,689)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
BBC Children in Need
LCC - Ward
Incredible Investion
The Henry Smith Charity
Samworth Bros
WSE Academy Ltd
Restricted funds
GFW-R
Samworth Bros
Box Smart
TOTAL FUNDS		 Net
movement
At 1.8.21
in funds
£
£
37,002
(45,038)
10,000
-
1,000
-
9,600
-
10,000
-
1,000
-
-
(2,667)
68,602
(47,705)
(16,800)
-
13,530
-
6,542
-
3,272
-
71,874
(47,705)		 At
31.7.23
£
(8,036)
10,000
1,000
9,600
10,000
1,000
(2,667)
20,897
(16,800)
13,530
6,542
3,272
24,169

Page 19

continued...

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

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:

Unrestricted funds
General fund
Street Games UK
WSE Academy Ltd
Leicestershire County Council-Active
Together Apprenticeship Grant
PRINCESS TRUST
ED BILBEY FUND-DEFEBRILLATOR
Restricted funds
Samworth Bros
TOTAL FUNDS		 Incoming
resources
£
79,167
10,676
61,666
15,934
1,540
232
169,215
30,000
199,215		 Resources
Movement
expended
in funds
£
£
(124,205)
(45,038)
(10,676)
-
(64,333)
(2,667)
(15,934)
-
(1,540)
-
(232)
-
(216,920)
(47,705)
(30,000)
-
(246,920)
(47,705)

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2023.

14. ULTIMATE CONTROLLING PARTY

In the opinion of the trustees, the charity has no ultimate controlling party.

15. GOING CONCERN

At the time of approving the financial statements, the trustees has made an assessment and has a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continues to adopt the going concern basis of accounting in preparing the financial statements.

Page 20

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Income-Schools
Investment income
Deposit account interest
Charitable activities
Grants
Grants - other
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Coaching & games costs
Depn of long leasehold
Depn of plant & machinery
Depn of fixtures & fittings
Depn of motor vehicles
Depn of computer equipment
Support costs
Management
Other operating leases
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Travelling
Sundries
Subscriptions
Refreshments
Repairs & renewals
Carried forward		 31.7.23
£
27,917
38,892
172
15,471
-
15,471
82,452
33,374
-
-
420
1,225
5
6,416
256
816
42,512
31,160
1,387
1,410
10,768
1,893
1,182
4,383
1,032
504
1,205
3,712
58,636		 31.7.22
£
33,750
24,553
9
44,111
14,340
58,451
116,763
54,128
4,952
620
278
1,361
7
8,555
341
1,219
71,461
32,400
902
2,305
9,983
2,149
3,160
559
1,170
290
988
5,728
59,634

This page does not form part of the statutory financial statements

Page 21

Docusign Envelope ID: CD9AC251-B508-4C4A-9B89-C24DBA255929

WATERFRONT SPORTS & EDUCATION ACADEMY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023

----- Start of picture text -----
31.7.23 31.7.22
£ £
Management
Brought forward 58,636 59,634
Training costs 308 268
Accountancy 3,370 2,817
Independent examinator fees 1,985 1,985
Clothing expenses 56 104
Computer costs 573 843
64,928 65,651
Finance
Bank charges 90 90
Bank loan interest - 1,250
90 1,340
Other
Bank loan interest 938 -
Total resources expended 108,468 138,452
Net expenditure (26,016) (21,689)
----- End of picture text -----

This page does not form part of the statutory financial statements

Page 22