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## **FINANCIAL INSTRUMENTS**
- WARNING - The financial instruments note has not been populated but disclosure is required where financial instruments exist. This can be made in a separate financial instruments note by populating memo codes 4101 - 4101.04 and 4105 - 4105.04 and reportpads FinancialInstruments, FinancialInstrumentsCollateral and FinancialInstrumentsDerecognition. Alternatively, disclosures may be added to any other note to the financial statements that the financial instrument relates to using additional reportpads.
## **SIGNING OFF THE ACCOUNTS**
- ERROR - No approval date has been entered for the trustees' annual report. To amend select Setup > Action dates.
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**Draft Accounts**
**09:16 on 14 November 2023**
**COMPANY REGISTRATION NUMBER: 08493279 CHARITY REGISTRATION NUMBER: 1154076**
**Urban Extreme Limited Company Limited by Guarantee Unaudited Financial Statements 30 April 2023**
## DRAFT ACCOUNTS
## **ROBY BRIMLEY & CO LTD**
Accountants & Tax Advisors
5 Farrington Street Chorley Lancashire PR7 1DY
## **Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Financial Statements**
## **Year ended 30 April 2023**
||**Page**|
|---|---|
|Trustees' annual report (incorporating the director's report)|**1**|
|Independent examiner's report to the trustees|**3**|
|Statement of financial activities (including income and||
|expenditure account)|**4**|
|Statement of financial position|**5**|
|Notes to the financial statements|**6**|
**Draft Accounts**
**09:16 on 14 November 2023**
**Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)**
## **Year ended 30 April 2023**
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 April 2023.
## **Reference and administrative details**
**Registered charity name** Urban Extreme Limited **Charity registration number** 1154076 **Company registration number** 08493279 **Principal office and registered** Urban Extreme Skatepark **office** James Freel Close Barrow-in-Furness Cumbria LA14 2NW
## **The trustees**
Mr I Scales Mr I Lewis Mr L Hogg **Independent examiner** Roby Brimley & Co Ltd 5 Farrington Street Chorley Lancashire PR7 1DY
## **Structure, governance and management**
Nature of governing document:
Urban Extreme Limited is incorporated under the Companies Act, as a company limited by guarantee. The charity is governed by its Memorandum and Articles dated 17 April 2013, as amended by special resolution dated 15 September 2013.
Recruitment and appointment of trustees:
The charity is administered and run by the trustees. New trustees will be appointed by the existing trustees.
**Draft Accounts**
**09:16 on 14 November 2023**
**1**
## **Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
## **Year ended 30 April 2023**
## **Objectives and activities**
Objects and aims:
Urban Extreme Limited is for the benefit of the people in Barrow-in-Furness and surrounding areas. It provides the facility of an indoor skate park for recreation and leisure time.
## Public benefit:
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
Performance:
Since Covid and re-opening to the public, Urban Extreme park has continued to trade and has a steady cash flow. Entrance costs have increased slightly and numbers have also increased, therefore proving we are an asset to the county. We are working with Westmorland Council on becoming a Holiday Activity Provider, which enables the less fortunate children to participate at Urban Extreme and this is funded by Westmorland Council.
## **Financial review**
Policy on reserves:
The charity plans to maintain sufficient free reserves to enable them to cover six month's fixed and administrative expenses and also any maintenance costs. However, the charity have been unable to make any surplus funds. Free reserves as at the year end are £Nil (2020 - £Nil).
## **Small company provisions**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr I Scales Trustee
**Draft Accounts**
**09:16 on 14 November 2023**
**2**
**Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Independent Examiner's Report to the Trustees of Urban Extreme Limited**
## **Year ended 30 April 2023**
I report to the trustees on my examination of the financial statements of Urban Extreme Limited ('the charity') for the year ended 30 April 2023.
## **Responsibilities and basis of report**
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 accounts to be reached.
Roby Brimley & Co Ltd Independent Examiner 5 Farrington Street Chorley Lancashire PR7 1DY
**Draft Accounts**
**09:16 on 14 November 2023**
**3**
## **Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Statement of Financial Activities (including income and expenditure account)**
## **Year ended 30 April 2023**
|||**2023**|**2023**|2022|
|---|---|---|---|---|
|||Unrestricted|||
|||funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|£|
|**Income and endowments**|||||
|Donations and legacies|**5**|–|–|7,737|
|Charitable activities|**6**|84,311|84,311|72,472|
|||``|``|``|
|**Total income**||84,311|84,311|80,209|
|||``|``|``|
|**Expenditure**|||||
|Expenditure on charitable activities|**7,8**|80,028|80,028|78,323|
|||``|``|``|
|**Total expenditure**||80,028|80,028|78,323|
|||``|``|``|
|||``|``|``|
|**Net income and net movement in funds**||4,283|4,283|1,886|
|||``|``|``|
|**Reconciliation of funds**|||||
|Total funds brought forward||56,347|56,347|54,461|
|||``|``|``|
|**Total funds carried forward**||60,630|60,630|56,347|
|||``|``|``|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
**The notes on pages 6 to 13 form part of these financial statements.**
**Draft Accounts**
**09:16 on 14 November 2023**
**4**
## **Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Statement of Financial Position**
## **30 April 2023**
|||**2023**|2022|
|---|---|---|---|
||**Note**|**£**|£|
|**Fixed assets**||||
|Tangible fixed assets|**13**|73,985|82,079|
|**Current assets**||||
|Cash at bank and in hand||10,465|11,081|
|**Creditors: amounts falling due within one year**|**14**|17,070|27,063|
|||``|``|
|**Net current liabilities**||6,605|15,982|
|||``|``|
|**Total assets less current liabilities**||67,380|66,097|
|**Creditors: amounts falling due after more than one year**|**15**|6,750|9,750|
|||``|``|
|**Net assets**||60,630|56,347|
|||``|``|
|**Funds of the charity**||||
|Unrestricted funds||60,630|56,347|
|||``|``|
|**Total charity funds**|**17**|60,630|56,347|
|||``|``|
For the year ending 30 April 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mr I Scales Trustee
**The notes on pages 6 to 13 form part of these financial statements.**
**Draft Accounts**
**09:16 on 14 November 2023**
**5**
**Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements**
## **Year ended 30 April 2023**
## **1. General information**
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Urban Extreme Skatepark, James Freel Close, Barrow-in-Furness, Cumbria, LA14 2NW.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions or other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
**Draft Accounts**
**09:16 on 14 November 2023**
**6**
**Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 30 April 2023**
**3. Accounting policies** _**(continued)**_
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
**Draft Accounts**
**09:16 on 14 November 2023**
**7**
**Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 30 April 2023**
**3. Accounting policies** _**(continued)**_
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|Short leasehold property|-|4% straight line|
|---|---|---|
|Plant and machinery|-|10% reducing balance|
|Equipment|-|20% reducing balance|
## **Impairment of fixed assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
**Draft Accounts**
**09:16 on 14 November 2023**
**8**
## **Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 30 April 2023**
## **3. Accounting policies** _**(continued)**_
## **Impairment of fixed assets** _**(continued)**_
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
## **Government grants**
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
## **4. Limited by guarantee**
The charity is a company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
## **5. Donations and legacies**
||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|**2023**|Funds|2022|
||£|**£**|£|£|
|**Grants**|||||
|Local Authority grant income|–|–|6,000|6,000|
|Government grant income|–|–|1,737|1,737|
||``|``|``|``|
||–|–|7,737|7,737|
||``|``|``|``|
**Draft Accounts**
**09:16 on 14 November 2023**
**9**
## **Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 30 April 2023**
## **6. Charitable activities**
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||Sale of goods/services as part of direct|||||
||charitable activities|84,311|84,311|72,472|72,472|
|||``|``|``|``|
|**7.**|**Expenditure on charitable activities by fund type**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||Skatepark|78,498|78,498|76,793|76,793|
||Support costs|1,530|1,530|1,530|1,530|
|||``|``|``|``|
|||80,028|80,028|78,323|78,323|
|||``|``|``|``|
|**8.**|**Expenditure on charitable activities by activity type**|||||
|||Activities||||
|||undertaken||**Total funds**|Total fund|
|||directly Support costs||**2023**|2022|
|||£|£|**£**|£|
||Skatepark|78,498|–|78,498|76,793|
||Governance costs|–|1,530|1,530|1,530|
|||``|``|``|``|
|||78,498|1,530|80,028|78,323|
|||``|``|``|``|
|**9.**|**Net income**|||||
||Net income is stated after charging/(crediting):|||||
|||||**2023**|2022|
|||||**£**|£|
||Depreciation of tangible fixed assets|||8,329|9,349|
|||||``|``|
|**10.**|**Independent examination fees**|||||
|||||**2023**|2022|
|||||**£**|£|
||Fees payable to the independent examiner for:|||||
||Independent examination of the financial|statements||1,530|1,530|
|||||``|``|
|**11.**|**Staff costs**|||||
||The total staff costs and employee benefits for the reporting period are analysed as||||follows:|
|||||**2023**|2022|
|||||**£**|£|
||Wages and salaries|||24,338
``|23,454
``|
**Draft Accounts**
**09:16 on 14 November 2023**
**10**
## **Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 30 April 2023**
## **11. Staff costs** _**(continued)**_
The average head count of employees during the year was 6 (2022: 7). The average number of full-time equivalent employees during the year is analysed as follows:
||**2023**|2022|
|---|---|---|
||**No.**|No.|
|Number of staff - Skatepark|5|5|
|Number of staff - Admin|1|2|
||``|``|
||6|7|
||``|``|
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
## **12. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
## **13. Tangible fixed assets**
||Short||||
|---|---|---|---|---|
||leasehold|Plant and|||
||property|machinery|Equipment|**Total**|
||£|£|£|**£**|
|**Cost**|||||
|At 1 May 2022|14,007|135,746|18,107|167,860|
|Additions|–|–|235|235|
||``|``|``|``|
|**At 30 April 2023**|14,007|135,746|18,342|168,095|
||``|``|``|``|
|**Depreciation**|||||
|At 1 May 2022|1,680|73,462|10,639|85,781|
|Charge for the year|560|6,228|1,541|8,329|
||``|``|``|``|
|**At 30 April 2023**|2,240|79,690|12,180|94,110|
||``|``|``|``|
|**Carrying amount**|||||
|**At 30 April 2023**|11,767|56,056|6,162|73,985|
||``|``|``|``|
|At 30 April 2022|12,327|62,284|7,468|82,079|
||``|``|``|``|
|**Creditors:** **amounts falling due within one year**|||||
||||**2023**|2022|
||||**£**|£|
|Bank loans and overdrafts|||3,000|3,000|
|Accruals and deferred income|||1,260|930|
|Social security and other taxes|||29|70|
|Director loan accounts|||5,319|5,319|
|Other creditors|||7,462|17,744|
||||``|``|
||||17,070|27,063|
||||``|``|
## **14. Creditors: amounts falling due within one year**
**Draft Accounts**
**09:16 on 14 November 2023**
**11**
## **Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 30 April 2023**
## **15. Creditors: amounts falling due after more than one year**
|||||**2023**||2022|
|---|---|---|---|---|---|---|
|||||**£**||£|
||Bank loans and overdrafts|||6,750||9,750|
|||||``||``|
|**16.**|**Government grants**||||||
||The amounts recognised in the financial|statements for|government|grants are as follows:|||
|||||**2023**||2022|
|||||**£**||£|
||Recognised in income from donations and legacies:||||||
||Government grants income|||–||1,737|
|||||``||``|
|**17.**|**Analysis of charitable funds**||||||
||**Unrestricted funds**||||||
|||At||||**At**|
|||1 May 2022|Income|Expenditure|**30 April 2023**||
|||£|£|£||£|
||General funds|56,347|84,311|(80,028)||60,630|
|||``|``|``||``|
|||At||||At|
|||1 May 2021|Income|Expenditure||30 April 2022|
|||£|£|£||£|
||General funds|54,461|80,209|(78,323)||56,347|
|||``|``|``||``|
|**18.**|**Analysis of net assets between funds**||||||
|||||Unrestricted||**Total Funds**|
|||||Funds||**2023**|
|||||£||**£**|
||Tangible fixed assets|||73,985||73,985|
||Current assets|||10,465||10,465|
||Creditors less than 1 year|||(17,070)||(17,070)|
||Creditors greater than 1 year|||(6,750)||(6,750)|
|||||``||``|
||**Net assets**|||60,630||60,630|
|||||``||``|
|||||Unrestricted||Total Funds|
|||||Funds||2022|
|||||£||£|
||Tangible fixed assets|||82,079||82,079|
||Current assets|||11,081||11,081|
||Creditors less than 1 year|||(27,063)||(27,063)|
||Creditors greater than 1 year|||(9,750)||(9,750)|
|||||``||``|
||**Net assets**|||56,347||56,347|
|||||``||``|
**Draft Accounts**
**09:16 on 14 November 2023**
**12**
## **Urban Extreme Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 30 April 2023**
## **19. Related parties**
During the year the charity entered into the following transactions with related parties:
||||**Balance owed**|**by/(owed**|
|---|---|---|---|---|
||**Transaction**|**value**|**to)**||
||**2023**|2022|**2023**|2022|
||£|£|£|£|
|JRK Leisure Limited|22,643|23,572|(7,462)|(17,744)|
|Mr J & Mrs J Keith|–|–|(5,319)|(5,319)|
||``|``|``|``|
## JRK Leisure Limited
## (common directors with the charity)
The charity paid rent to the company for the premises it operates from in the sum of £21,700 (2022 - £22,500). The company has also loaned the charity money, on which interest has been charged to the charity in the sum of £943 (2022 - £1,072). The charity repaid £10,282 (2022 - £12,554).
**Draft Accounts**
**09:16 on 14 November 2023**
**13**