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← Waterfront Sports & Education Academy

2024-07-31-accounts

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

REGISTERED CHARITY NUMBER: 1153993

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 July 2024

for

WATERFRONT SPORTS & EDUCATION ACADEMY

AKS Advisers

14-15 Lower Grosvenor Place London SW1W 0EX

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Contents of the Financial Statements FOR THE YEAR ENDED 31 JULY 2024

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 22
Detailed Statement of Financial Activities 23 to 24

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Reference and Administrative Details FOR THE YEAR ENDED 31 JULY 2024

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 NUMBER 1153993 INDEPENDENT EXAMINER AKS Advisers 14-15 Lower Grosvenor Place London SW1W 0EX

Page 1

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Report of the Trustees FOR THE YEAR ENDED 31 JULY 2024

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

Page 2

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Report of the Trustees FOR THE YEAR ENDED 31 JULY 2024

OBJECTIVES AND ACTIVITIES

Objectives and aims

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

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

3. Objectives and Activities

3.1 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

3.2. 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

3.3 To become a sustainable organisation by:

Generating income from our activities Reviewing and evaluating our mission on a regular basis

4. Objectives:

4.1 Medium term objectives (2023/24):

4.2 Medium term objectives (2024/25):

Page 3

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Report of the Trustees FOR THE YEAR ENDED 31 JULY 2024

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

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

Page 4

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Report of the Trustees FOR THE YEAR ENDED 31 JULY 2024

ACHIEVEMENT AND PERFORMANCE

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

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.

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 5

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Report of the Trustees FOR THE YEAR ENDED 31 JULY 2024

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).

10 November 2025

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

.................................................................... FD1AF29274C14F9... Trustee

Page 6

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

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 2024 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 14-15 Lower Grosvenor Place London SW1W 0EX 12 November 2025

Date: .............................................

Page 7

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Statement of Financial Activities FOR THE YEAR ENDED 31 JULY 2024

31.7.24
Unrestricted
Restricted
Total
funds
funds
funds
Notes
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
9,867
-
9,867
Charitable activities
Grant for Wages
2,000
-
2,000
Alternative Educations
-
-
-
Streetgames
2,500
-
2,500
Holiday activities
9,029
-
9,029
Box to Bit It
1,170
-
1,170
Other trading activities
2
2,733
16,800
19,533
Investment income
3
187
-
187
Total
27,486
16,800
44,286
EXPENDITURE ON
Charitable activities
Grant for Wages
2,000
-
2,000
Alternative Educations
-
-
-
General
35,848
20,072
55,920
Streetgames
2,500
-
2,500
Holiday activities
9,029
-
9,029
Box to Bit It
1,170
-
1,170
Total
50,547
20,072
70,619
NET INCOME/(EXPENDITURE)
(23,061)
(3,272)
(26,333)
RECONCILIATION OF FUNDS
Total funds brought forward
20,897
3,272
24,169
TOTAL FUNDS CARRIED FORWARD
(2,164)
-
(2,164)		 31.7.23
Total
funds
£
27,917
13,931
1,540
-
-
-
38,892
172
82,452
33,374
12,680
62,414
-
-
-
108,468
(26,016)
50,185
24,169

The notes form part of these financial statements

Page 8

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Balance Sheet 31 JULY 2024

31.7.24 31.7.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 6 26,198 - 26,198 32,716
CURRENT ASSETS
Debtors: amounts falling due within one year 7 8,089 - 8,089 9,859
Cash at bank and in hand 17,749 - 17,749 37,775
25,838 - 25,838 47,634
CREDITORS
Amounts falling due within one year 8 (27,189) - (27,189) (23,687)
NET CURRENT ASSETS (1,351) - (1,351) 23,947
TOTAL ASSETS LESS CURRENT
LIABILITIES 24,847 - 24,847 56,663
CREDITORS
Amounts falling due after more than one year 9 (27,011) - (27,011) (32,494)
NET ASSETS (2,164) - (2,164) 24,169
FUNDS 12
Unrestricted funds (2,164) 20,897
Restricted funds - 3,272
TOTAL FUNDS (2,164) 24,169

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 10 November 2025

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

The notes form part of these financial statements

Page 9

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Cash Flow Statement FOR THE YEAR ENDED 31 JULY 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash (used in)/provided by investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
2
Cash and cash equivalents at the end
of the reporting period
2		 31.7.24
£
(5,821)
(960)
(6,781)
(209)
187
(22)
(5,484)
(5,484)
(12,287)
30,036
17,749		 31.7.23
£
(44,417)
(938)
(45,355)
-
172
172
(5,641)
(5,641)
(50,824)
80,860
30,036

The notes form part of these financial statements

Page 10

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Notes to the Cash Flow Statement FOR THE YEAR ENDED 31 JULY 2024

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.7.24 31.7.23
£ £
Net expenditure for the reporting period (as per the Statement of
Financial Activities) (26,333) (26,016)
Adjustments for:
Depreciation charges 6,727 8,718
Interest received (187) (172)
Interest paid 960 938
Decrease/(increase) in debtors 1,771 (5,276)
Increase/(decrease) in creditors 11,241 (22,609)
Net cash used in operations (5,821) (44,417)
2. ANALYSIS OF CASH AND CASH EQUIVALENTS
31.7.24 31.7.23
£ £
Cash in hand 1,506 445
Notice deposits (less than 3 months) 16,243 37,330
Overdrafts included in bank loans and overdrafts falling due within one
year - (7,739)
Total cash and cash equivalents 17,749 30,036
3. ANALYSIS OF CHANGES IN NET DEBT
At 1.8.23 Cash flow At 31.7.24
£ £ £
Net cash
Cash at bank and in hand 37,775 (20,026) 17,749
Bank overdraft (7,739) 7,739 -
30,036 (12,287) 17,749
Debt
Debts falling due within 1 year (5,469) - (5,469)
Debts falling due after 1 year (32,494) 5,483 (27,011)
(37,963) 5,483 (32,480)
Total (7,927) (6,804) (14,731)

The notes form part of these financial statements

Page 11

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

Notes to the Financial Statements FOR THE YEAR ENDED 31 JULY 2024

WATERFRONT SPORTS & EDUCATION ACADEMY

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 12

continued...

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 JULY 2024

2. OTHER TRADING ACTIVITIES

Unrestricted
Restricted
funds
funds
£
£
Income-Schools
2,733
16,800
3.
INVESTMENT INCOME

Unrestricted
Restricted
funds
funds
£
£
Deposit account interest
187
-		 31.7.24

Total
funds
£
19,533
31.7.24

Total
funds
£
187		 31.7.23
Total
funds
£
38,892
31.7.23
Total
funds
£
172

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 (2023:£Nil) and Ms T Burgess remuneration was £Nil (2023:£32,400).

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
27,917
Charitable activities
Grant for Wages
13,931
Alternative Educations
1,540
Other trading activities
38,892
Investment income
172
Total
82,452
EXPENDITURE ON
Charitable activities
Grant for Wages
33,374
Alternative Educations
12,680
General
62,414
Total
108,468		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-		 Total
funds
£
27,917
13,931
1,540
38,892
172
82,452
33,374
12,680
62,414
108,468

Page 13

continued...

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 JULY 2024

5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
NET INCOME/(EXPENDITURE)
(26,016)
-
RECONCILIATION OF FUNDS
Total funds brought forward
46,913
3,272
TOTAL FUNDS CARRIED FORWARD
20,897
3,272
6.
TANGIBLE FIXED ASSETS
Short
Plant and
leasehold
machinery
£
£
COST
At 1 August 2023
20,750
275
Additions
-
-
At 31 July 2024
20,750
275
DEPRECIATION
At 1 August 2023
9,723
260
Charge for year
1,102
4
At 31 July 2024
10,825
264
NET BOOK VALUE
At 31 July 2024
9,925
11
At 31 July 2023
11,027
15		 Total
funds
£
(26,016)
50,185
24,169
Fixtures
and
fittings
£
94,548
-
94,548
75,299
4,813
80,112
14,436
19,249

Page 14

continued...

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 JULY 2024

6.
TANGIBLE FIXED ASSETS - continued
COST
At 1 August 2023
Additions
At 31 July 2024
DEPRECIATION
At 1 August 2023
Charge for year
At 31 July 2024
NET BOOK VALUE
At 31 July 2024
At 31 July 2023
7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 10)
Other creditors		 Motor
Computer
vehicles
equipment
Totals
£
£
£
6,500
18,696
140,769
-
209
209
6,500
18,905
140,978
5,732
17,039
108,053
192
616
6,727
5,924
17,655
114,780
576
1,250
26,198
768
1,657
32,716
31.7.24
31.7.23
£
£
2,200
4,100
5,889
5,759
8,089
9,859
31.7.24
31.7.23
£
£
5,469
13,208
21,720
10,479
27,189
23,687		 Motor
Computer
vehicles
equipment
Totals
£
£
£
6,500
18,696
140,769
-
209
209
6,500
18,905
140,978
5,732
17,039
108,053
192
616
6,727
5,924
17,655
114,780
576
1,250
26,198
768
1,657
32,716
31.7.24
31.7.23
£
£
2,200
4,100
5,889
5,759
8,089
9,859
31.7.24
31.7.23
£
£
5,469
13,208
21,720
10,479
27,189
23,687
26,198
32,716
31.7.23
£
4,100
5,759
9,859
31.7.23
£
13,208
10,479
23,687

Page 15

continued...

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 JULY 2024

9.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 10)
10.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years		 31.7.24
£
27,011
31.7.24
£
-
5,469
5,469
5,469
21,542		 31.7.23
£
32,494
31.7.23
£
7,739
5,469
13,208
5,469
27,025

11. LEASING AGREEMENTS

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

Within one year
Between one and five years		 31.7.24
£
30,000
89,333
119,333		 31.7.23
£
30,000
103,333
133,333

Page 16

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Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 JULY 2024

12. MOVEMENT IN FUNDS

Net
movement
At 1.8.23
in funds
£
£
Unrestricted funds
General fund
(8,036)
(14,128)
BBC Children in Need
10,000
-
LCC - Ward
1,000
(1,000)
Incredible Investion
9,600
(9,600)
The Henry Smith Charity
10,000
-
Samworth Bros
1,000
(1,000)
WSE Academy Ltd
(2,667)
2,667
20,897
(23,061)
Restricted funds
GFW-R
(16,800)
16,800
Samworth Bros
13,530
(13,530)
Box Smart
6,542
(6,542)
3,272
(3,272)
TOTAL FUNDS
24,169
(26,333)		 At
31.7.24
£
(22,164)
10,000
-
-
10,000
-
-
(2,164)
-
-
-
-
(2,164)

Page 17

continued...

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 JULY 2024

12. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 2,920 (17,048) (14,128)
LCC - Ward - (1,000) (1,000)
Incredible Investion
- (9,600) (9,600)
Samworth Bros - (1,000) (1,000)
Street Games UK
2,500 (2,500) -
WSE Academy Ltd 9,867 (7,200) 2,667
ALLIANZ MGMT SERVICE 2,000 (2,000) -
LEICESTER CITY COUNCIL 9,029 (9,029) -
ENGLAND BOXING 1,170 (1,170) -
27,486 (50,547) (23,061)
Restricted funds
GFW-R 16,800 - 16,800
Samworth Bros - (13,530) (13,530)
Box Smart - (6,542) (6,542)
16,800 (20,072) (3,272)
TOTAL FUNDS 44,286 (70,619) (26,333)

Page 18

continued...

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 JULY 2024

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.8.22
in funds
£
£
Unrestricted funds
General fund
15,313
(23,349)
BBC Children in Need
10,000
-
LCC - Ward
1,000
-
Incredible Investion
9,600
-
The Henry Smith Charity
10,000
-
Samworth Bros
1,000
-
WSE Academy Ltd
-
(2,667)
46,913
(26,016)
Restricted funds
GFW-R
(16,800)
-
Samworth Bros
13,530
-
Box Smart
6,542
-
3,272
-
TOTAL FUNDS
50,185
(26,016)		 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

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
PRINCESS TRUST
ED BILBEY FUND-DEFEBRILLATOR
TOTAL FUNDS		 Incoming
resources
£
39,065
6,129
27,916
7,570
1,540
232
82,452
82,452		 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)

Page 19

continued...

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 JULY 2024

12. MOVEMENT IN FUNDS - continued

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

Net
movement
At 1.8.22
in funds
£
£
Unrestricted funds
General fund
15,313
(37,477)
BBC Children in Need
10,000
-
LCC - Ward
1,000
(1,000)
Incredible Investion
9,600
(9,600)
The Henry Smith Charity
10,000
-
Samworth Bros
1,000
(1,000)
46,913
(49,077)
Restricted funds
GFW-R
(16,800)
16,800
Samworth Bros
13,530
(13,530)
Box Smart
6,542
(6,542)
3,272
(3,272)
TOTAL FUNDS
50,185
(52,349)		 At
31.7.24
£
(22,164)
10,000
-
-
10,000
-
(2,164)
-
-
-
-
(2,164)

Page 20

continued...

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 JULY 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 Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 41,985 (79,462) (37,477)
LCC - Ward - (1,000) (1,000)
Incredible Investion
- (9,600) (9,600)
Samworth Bros - (1,000) (1,000)
Street Games UK
8,629 (8,629) -
WSE Academy Ltd 37,783 (37,783) -
Leicestershire County Council-Active
Together Apprenticeship Grant 7,570 (7,570) -
PRINCESS TRUST 1,540 (1,540) -
ED BILBEY FUND-DEFEBRILLATOR 232 (232) -
ALLIANZ MGMT SERVICE 2,000 (2,000) -
LEICESTER CITY COUNCIL 9,029 (9,029) -
ENGLAND BOXING 1,170 (1,170) -
109,938 (159,015) (49,077)
Restricted funds
GFW-R 16,800 - 16,800
Samworth Bros - (13,530) (13,530)
Box Smart - (6,542) (6,542)
16,800 (20,072) (3,272)
TOTAL FUNDS 126,738 (179,087) (52,349)

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2024.

Page 21

continued...

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 JULY 2024

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 22

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 JULY 2024

31.7.24 31.7.23
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 9,867 27,917
Other trading activities
Income-Schools 19,533 38,892
Investment income
Deposit account interest 187 172
Charitable activities
Grants 14,699 15,471
Total incoming resources 44,286 82,452
EXPENDITURE
Charitable activities
Wages 3,857 33,374
Coaching & games costs 631 420
Tools 1,951 -
Freehold property 1,103 -
Depn of long leasehold - 1,225
Depn of plant & machinery 4 5
Depn of fixtures & fittings 4,812 6,416
Depn of motor vehicles 192 256
Depn of computer equipment 616 816
13,166 42,512
Support costs
Management
Other operating leases 24,343 31,160
Rates and water 1,925 1,387
Insurance 2,751 1,410
Light and heat 12,989 10,768
Telephone 2,851 1,893
Postage and stationery 276 1,182
Travelling 3,892 4,383
Sundries 648 1,032
Subscriptions 580 504
Carried forward 50,255 53,719

This page does not form part of the statutory financial statements

Page 23

Docusign Envelope ID: 233ED590-DF57-479D-982A-A486C5021907

WATERFRONT SPORTS & EDUCATION ACADEMY

Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 JULY 2024

31.7.24 31.7.23
£ £
Management
Brought forward 50,255 53,719
Refreshments 904 1,205
Repairs & renewals 1,211 3,712
Training costs - 308
Accountancy 1,075 3,370
Independent examinator fees 1,985 1,985
Clothing expenses - 56
Computer costs 893 573
56,323 64,928
Finance
Bank charges 170 90
Other
Bank loan interest 960 938
Total resources expended 70,619 108,468
Net expenditure (26,333) (26,016)

This page does not form part of the statutory financial statements

Page 24