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): - 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 - Work with active together to create Work force Development Report - Develop new partnerships with community groups - Continue to work with England Boxing ## **4.2** Medium term objectives (2024/25): - August 24 - July 25 : Club Sessions - October 24 - June 25 : Oadby and Wigston School Delivery - October 24 - April 25 : University of Leicester Delivery - October 24 - March 25: Box to Beat it (England Boxing Programme) - December 24 : Work force Development consultation work 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** - March - July: School 1:1/mentoring session's - March 2025 : Active Leicester Community Grants Fund Project - April 2025 : Easter HAF - April 25 - May 26Youth Endowment Fund: Towards Sports (Street games) - June 2025 : Youth Justice Delivery - July 2025 : Summer HAF **4.3** Medium term objectives (2025/26): - April 25 - May 26 : Youth Endowment Fund: Towards Sports (Street games) - August 25 - July 26 : Club Sessions - September 25 - Mini Bus - September 25 - June 26 - Spark Vale Academy Sessions - September 25- July 26: Grace Academy Sessions - October 25- November 25 : Trans4m delivery - October 25 - May 26 : University of Leicester Delivery - December 2025 : Winter HAF - February 26- July 26 - Move Different Project (England Boxing) - April 2026: Easter HAF - April 2026 - July 2026 : Youth Justice Delivery - July 2026 : Summer HAF ## **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: - 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). 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: - 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 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 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** |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