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)
- Maintain ourselves as a National Open College Network Centre(NOCN). This will enable the project to work with the Leicester Secondary Behaviour Support Service (SBSS) and provide additional support, alongside its four specialist learning centres, to young people who find it difficult to engage in mainstream education
- To review and grow our volunteering group with the support of Voluntary Action Leicestershire so that we have a sustainable and trained voluntary workforce within the club that will support the clubs objectives
- Seek funding to employ an additional paid staff to support our development:
1 Administration Manager
- 2 Sport Development Officer
- 3 Premises Officer
- " Increase the number of volunteers that support the work of the organisation"
- " Review the organisations website and Facebook/Twitter accounts"
## **4.2** Medium term objectives (2017/18):
- To increase income from working with Secondary schools in Leicester & Leicestershire.
## **4.3** Medium term objectives (2018/19):
- To increase income from working with Secondary schools in Leicester & Leicestershire.
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):
- Supporting workforce development, appoint our first apprentice's through the Coach Core Programme
## **4.5** Medium term objectives (2020/21):
- To review and grow our volunteering group with the support of Leicester and Rutland Sports (LRS), so that we have a sustainable and trained voluntary workforce within the club that will support the clubs objectives
- Seek funding to employ an additional paid staff to support our development
- Work with coach core
- With the support of Coach Core ensure that both apprentices complete their apprenticeship
- Provide community projects to assist in reducing inequality gaps
- Review the organisations website and social media accounts
## **4.6** Medium term objectives (2021/22):
- Complete a consultation around Ethnically Diverse Communities to support the future delivery of practice
- Working in partnership with Street Games to conduct a consultation with young people around the
- impact of social media on youth violence
- Engagement in Holiday, Activity and Food Programmes throughout the school holidays
- Facilitate community projects to assist in reducing inequality gaps
- Review the organisations website and social media accounts
- To increase our engagement of boxing sessions in secondary schools across Leicester and
Leicestershire
- Increase income working with the University of Leicester through the delivery of their Boxing Society
- Develop new partnerships with community groups
- Deliver sessions in the Charnwood area working with Active Charnwood
## **4.7** Medium term objectives (2022/23):
- -Engagement in Holiday, Activity and Food Programmes throughout the school holidays
- Deliver Active Together 'Lets Get Moving Programme'
- Increase income working with the University of Leicester through the delivery of their Boxing Society
- Facilitate community projects to assist in reducing inequality gaps
- To increase our engagement of boxing sessions in secondary schools across Leicester and
- Leicestershire
- Work with Leicester base FE Alternative Education Provision
- Review the organisations website and social media accounts
- Develop new partnerships with community groups
- Continue to work with England Boxing
## **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:
- Facility Hire: Local groups now regularly hire our facilities, providing a steady source of income,
- On-site Delivery: We currently run 3 to 4 sessions per week on site,
- Off-site Delivery: our growing programme of non-contact boxing sessions. These are delivered in secondary schools, colleges, universities, and county schools, and are designed to build confidence and discipline in young people.
- Community Partnerships: We have secured funding from a local company-an area we plan to invest more time and energy into expanding.
- Holiday Hunger Programme: We continue our valued partnership with Leicester City Council and the Department for Education, delivering the Holiday Hunger Programme during school holidays. This includes both food provision and physical activity sessions for families with low incomes- Consultancy Work: Waterfront maintains a consultancy role with the County Sport Partnership and StreetGames, gathering insights to influence local and regional policy.
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:
- accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the financial statements do not accord with those records; or
- the financial statements 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 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