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2024-06-30-accounts

REGISTERED COMPANY NUMBER: 08106171 (England and Wales) REGISTERED CHARITY NUMBER: 1154680

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 30 June 2024

for

Centre For Outdoor Activity And Community Hub

Cooper Associates Accountants Ltd 40 St James Buildings St James Street Taunton Somerset TA1 1JR

Centre For Outdoor Activity And Community Hub

Contents of the Financial Statements for the Year Ended 30 June 2024

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 16
Detailed Statement of Financial Activities 17 to 18

Centre For Outdoor Activity And Community Hub

Report of the Trustees for the Year Ended 30 June 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

COACH is a registered charity and company limited by guarantee. It is governed by Articles of Association adopted on 14 June 2012.

The articles have just been revised and new articles were signed off on 2[nd] October 2023

Recruitment and appointment of new trustees

Trustees are appointed for the experience and expertise they bring to the Charity. The Charity has built a community hub and it is intended that the Trustee Board is representative of the local community and expected users of the facility. The Trustees are elected to hold office for a period of 3 years, renewable for a further two terms, with consent of the other trustees.

Each trustee will be inducted into the operation of the charity and the duties of the trustee board. They will be provided with appropriate training to support them in their role.

Decision making

The Charity has developed a community hub in French Weir Park, Taunton. The Trustees hold regular meetings to manage the activities of the Charity. The Trustees have also created a Facility Management Group made up of representatives of the users of the facility to look after the day to day running of COACH, in line with guidelines set out by the Trustees.

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 main risk is not being able to generate the funds to maintain and run the building. The Charity has a business plan that it continues to execute. The aim is to provide income to maintain the facility and support the local community. The Trustees aim to build a contingency fund for repairs and improvements.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08106171 (England and Wales)

Registered Charity number

1154680

Registered office

Coach French Weir Park French Weir Avenue Taunton Somerset TA1 1AW

Page 1

Centre For Outdoor Activity And Community Hub

Report of the Trustees for the Year Ended 30 June 2024

Trustees

D F Bird Mrs E C Smillie B Appleby Mrs K M Hood Cafe Owner M Cook Mrs M Scanlan Mrs J East Mrs B Weston Mrs E Horsham Mr S Lipscombe

Independent Examiner

Cooper Associates Accountants Ltd 40 St James Buildings St James Street Taunton Somerset TA1 1JR

OBJECTIVES AND ACTIVITIES

The vision of the Charity is to provide access for youth, sport, education and community in the very heart of Taunton through the provision of a facility that is iconic, green and functional. COACH is a charity existing to promote community values in a sporting and educational environment, open to all.

This is achieved by providing the community with a building in the heart of the Tone corridor, linking an open space at Longrun Meadow and the strategic regeneration area at Firepool, that encourages the values of activity, community and education. The Trustees aim to ensure that the users of COACH reflect a broad range of the community.

PUBLIC BENEFIT STATEMENT

The Trustees are working with the Charity's various partners to ensure that there is strong community involvement and support available to widen access to the facilities. The Charity has also purchased specialised adaptive craft to help offer enjoyment of the river to more users.

Page 2

Centre For Outdoor Activity And Community Hub

Report of the Trustees for the Year Ended 30 June 2024

FINANCIAL REVIEW

The Charity completed and opened the new community hub, COACH, in French Weir Park, Taunton, in March 2017. Since that time the level of activity and the number of regular users at COACH has increased steadily, building regular income to ensure that it becomes financially sustainable.

The cost of the building grew mainly due to technical issues. The Trustees took the decision to borrow funds to complete the project fully and to a good standard. The Trustees are grateful to Taunton Deane Borough Council and the Robert Barnes Trust for their support. The decision to borrow was supported by business plans that show the repayments are affordable and the Trustees expect to make a surplus each year and start to build a reserve to support the ongoing maintenance of the building.

The net profit for the year was £12,414 (2023: net loss £4,897). At the year end the Charity had reserves of £1,063,244 (2023: £1,052,140). £640,000 relating to the grant from Sport England has been retained as restricted funds against the 10 year security held on the property to protect Sport England's interest in the Centre.

The Trustees are grateful to all the grant funders and donors who have made the project possible. Donations were received from :

Friends of Long Run Meadow Cycle Somerset Sport England Fund The Robert Bruce Barnes Charitable Trust Awards for All Taunton Rowing Club Taunton Deane Borough Council The Clark Foundation Albert Goodman Taunton Adventurous Sports and Canoe Club DM THomas Foundation Wooden Spoon Bishop Fox's Educational Foundation British Rowing Hedley Foundation Somerset Community Foundation British Canoeing Rank Formation The Peter Harrison Foundation Taunton School Taunton Bike Club Persimmon Charitable Fund TYCC Bath and Wells School Fund Wilton Trust

FUNDRAISING

To date the principal method of fundraising has been through the direct approach to grant funding organisation. Income has also been received through the generosity of individual donors and fundraising initiatives run by users of the facility. The Trustees will look to fundraise for future developments and to support the costs of running the facility.

RESERVES POLICY

The Charity's initial aim was to raise funds to build the community hub. Now the facility is operational the Trustees will aim to build a reserve equal to one year's annual expenditure and establish a reserve for supporting the maintenance of the building.

Page 3

Centre For Outdoor Activity And Community Hub

Report of the Trustees for the Year Ended 30 June 2024

PLANS FOR THE FUTURE

Now that COACH has been completed the trustees intend to

  1. Continue to promote the centre as a hub for a wide range of community and sports users to a wide cross-section of the community.

  2. Ensure that the trustee board is expanded to reflect the local community and their views on

  3. how the facility will run for the benefit of the community.

  4. To continue raise sufficient income to run the Centre and meet the financial obligations.

  5. To successfully transition the daily management of the company to users to enable the Trustees

  6. to take a more strategic view.

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

15 Mar 2025

Mrs J East - Trustee

Page 4

Independent Examiner's Report to the Trustees of Centre For Outdoor Activity And Community Hub

Independent examiner's report to the trustees of Centre For Outdoor Activity And Community Hub ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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 Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts 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.

Kevin Parsons FCCA Cooper Associates Accountants Ltd 40 St James Buildings St James Street Taunton Somerset TA1 1JR

Page 5

Centre For Outdoor Activity And Community Hub

Statement of Financial Activities for the Year Ended 30 June 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
Charitable activities
Other trading activities
3
Total
EXPENDITURE ON
Charitable activities
4
Charitable activities
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
Unrestricted
fund
£
11,000
50,145
1,580
62,725
32,676
17,635
50,311
12,414
405,426
417,840

Restricted
fund
£
-
-
-
-
-
-
-
-
646,714
646,714
2024

Total
funds
£
11,000
50,145
1,580
62,725
32,676
17,635
50,311
12,414
1,052,140
1,064,554
2023
Total
funds
£
-
39,402
10,063
49,465
39,221
15,141
54,362
(4,897)
1,057,037
1,052,140

The notes form part of these financial statements

Page 6

Centre For Outdoor Activity And Community Hub

Balance Sheet 30 June 2024

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year 13
NET ASSETS
FUNDS
Unrestricted funds:
General fund
Restricted funds:
Restricted fund
TOTAL FUNDS
Unrestricted
fund
£
373,850
7,910
41,231
49,141
(7,466)
41,675
415,525
(1,250)
414,275

Restricted
fund
£
646,714
-
-
-
-
-
646,714
-
646,714
2024

Total
funds
£
1,020,564
7,910
41,231
49,141
(7,466)
41,675
1,062,239
(1,250)
1,060,989
414,275
646,714
1,060,989
2023
Total
funds
£
1,028,277
2,721
33,929
36,650
(6,850)
29,800
1,058,077
(5,937)
1,052,140
405,426
646,714
1,052,140

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

Page 7

Centre For Outdoor Activity And Community Hub

Balance Sheet - continued 30 June 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

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

15 Mar 2025

Mrs J East - Trustee

The notes form part of these financial statements

Page 8

Centre For Outdoor Activity And Community Hub

Notes to the Financial Statements for the Year Ended 30 June 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty.

Preparation of the financial statements required the Trustees to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Useful economic lives of intangible and tangible assets:

The annual amortisation and depreciation charges for the tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 8 for the carrying amount of the tangible assets and the tangible assets accounting policy for the useful lives for each class of asset.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

Income

Income, including that from letting the facility, is recognised in the period to which it relates, once the Charity has entitlement to the resources and once the trustees have probability that the resources will be received and when the monetary value can be measured with reliably.

Income from fundraising events is shown gross, with the associated expenditure shown in cost of generating funds.

Where the Charity benefits from work carried out by volunteers without charge, no value is placed on this work for accounting purposes but is described in the trustees' annual report.

Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered, as soon as there is a legal or constructive obligation committing the Charity to the expenditure.

The expenditure on raising funds are those costs incurred in providing services for which the Charity received a direct income and those incurred in fundraising activity.

Expenditure on charitable activities represents the cost of supporting the Charity's objectives and as laid out in it's memorandum and articles of association.

continued...

Page 9

Centre For Outdoor Activity And Community Hub

Notes to the Financial Statements - continued for the Year Ended 30 June 2024

1. ACCOUNTING POLICIES - continued

Expenditure

Governance costs are those incurred in the governance of the Charity and its assets and are primarily associated with constitutional and statutory compliance.

Support costs include central functions, principally connected with buildings and administration, which are indirectly incurred in support of the generation of funds and of charitable expenditure, and which are allocated to those heading on an appropriate apportionment.

The Charity has no employees.

Tangible fixed assets

Individual fixed assets costing £500 or more, and others of a smaller individual value but forming part of a capital expenditure programme, are capitalised at purchase cost.

Depreciation is provided on all tangible fixed assets in use, at rates and bases calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:-

Freehold Buildings - 1% of cost Fixtures, fittings and boats - 12.5% of cost

Taxation

The charity is exempt from corporation 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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Debtors

Debtors and accrued income are recognised at the settlement amount due after any trade discount. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discount due.

continued...

Page 10

Centre For Outdoor Activity And Community Hub

Notes to the Financial Statements - continued for the Year Ended 30 June 2024

1. ACCOUNTING POLICIES - continued

Financial Instruments

COACH only has financial assets and liabilities of a kind that qualify as basic financial instruments, cash at bank, debtors and creditors. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ( See Notes 9,10,11,12)

2. DONATIONS AND LEGACIES

2024
£
Grants
11,000
3.
OTHER TRADING ACTIVITIES
2024
£
Holiday, activity and food fund
-
Other income
1,580
1,580
4.
CHARITABLE ACTIVITIES COSTS
Support
Direct
costs (see
Costs
note 5)
£
£
Charitable activities
48,183
2,128
2023
£
-
2023
£
7,480
2,583
10,063
Totals
£
50,311

continued...

Page 11

Centre For Outdoor Activity And Community Hub

Notes to the Financial Statements - continued for the Year Ended 30 June 2024

5. SUPPORT COSTS

Governance expenditure related to the Independent Examiner's costs of £636 (2023 : £600) and Legal fees of £1,492 (2023: NIL).

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets
7.
TRUSTEES' REMUNERATION AND BENEFITS
Trustees' fees
2024
£
15,448
2024
£
NIL
2023
£
14,480
2023
£
NIL

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.

8. STAFF COSTS

The average monthly number of employees during the year was as follows:

2024 2023
Trustee 1 1

No employees received emoluments in excess of £60,000.

continued...

Page 12

Centre For Outdoor Activity And Community Hub

Notes to the Financial Statements - continued for the Year Ended 30 June 2024

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
fund
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
-
-
Charitable activities
Charitable activities
39,402
-
Other trading activities
10,063
-
Total
49,465
-
EXPENDITURE ON
Charitable activities
Charitable activities
39,221
-
Other
15,141
-
Total
54,362
-
NET INCOME/(EXPENDITURE)
(4,897)
-
RECONCILIATION OF FUNDS
Total funds brought forward
410,323
646,714
TOTAL FUNDS CARRIED
FORWARD
405,426
646,714

Total
funds
£
-
39,402
10,063
49,465
39,221
15,141
54,362
(4,897)
1,057,037
1,052,140

continued...

Page 13

Centre For Outdoor Activity And Community Hub

Notes to the Financial Statements - continued for the Year Ended 30 June 2024

10. TANGIBLE FIXED ASSETS

COST
At 1 July 2023
Additions
At 30 June 2024
DEPRECIATION
At 1 July 2023
Charge for year
At 30 June 2024
NET BOOK VALUE
At 30 June 2024
At 30 June 2023
Freehold
property
£
1,083,235
-
1,083,235
67,513
10,832
78,344
1,004,891
1,015,723
Fixtures

and

fittings
£
29,188
7,736
36,924
16,634
4,615
21,249
15,675
12,554

Totals
£
1,112,423
7,736
1,120,159
84,146
15,447
99,593
1,020,566
1,028,277

Sports England has a charge on the building equal to the grants given in order to ensure that the funds granted to the project are protected for the purpose of the grant. Sport England awarded a grant for £640,000.

The Land that the Centre for Outdoor Activity and Community Hub is situated on is under a 125 year lease to the charity from Taunton Deane Borough Council starting on 1 December 2015. There has been no valuation undertaken for this land and therefore the trustees have concluded that a value for this land will not be recognised on the balance sheet of the charity.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Prepayments and accrued income
2024
£
4,886
3,024
7,910
2023
£
-
2,721
2,721

continued...

Page 14

Centre For Outdoor Activity And Community Hub

Notes to the Financial Statements - continued for the Year Ended 30 June 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
£
Other loans (see note 14)
6,250
Trade creditors
580
Accruals and deferred income
636
7,466
13.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
£
Other loans (see note 14)
1,250
14.
LOANS
An analysis of the maturity of loans is given below:
2024
£
Amounts falling due within one year on demand:
Other loans
6,250
Amounts falling between one and two years:
Other loans - 1-2 years
1,250
Amounts falling due between two and five years:
Other loans - 2-5 years
-
2023
£
6,250
-
600
6,850
2023
£
5,937
2023
£
6,250
5,937
-

15. MOVEMENT IN FUNDS

The Building fund includes grants from the following bodies to enable the Community Centre to be built:

The Peter Harrison Foundation Bishop Fox's Educational Sport England Fund Taunton Deane Borough Council Wilton Trust The Robert Bruce Barnes Foundation Permission Charitable Fund Bath and Wells - Schools Fund Friends of Longrun Meadow

The following organisations provided funds for boats and equipment to support the young and to provide adaptive craft.

£ Wooden Spoon 5,700

Page 15

continued...

Centre For Outdoor Activity And Community Hub

Notes to the Financial Statements - continued for the Year Ended 30 June 2024

15. MOVEMENT IN FUNDS - continued

Wilton trust 7,500

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 June 2024.

Page 16

Centre For Outdoor Activity And Community Hub

Detailed Statement of Financial Activities for the Year Ended 30 June 2024

INCOME AND ENDOWMENTS
Donations and legacies
Grants
Other trading activities
Holiday, activity and food fund
Other income
Charitable activities
License and hire income
Total incoming resources
EXPENDITURE
Charitable activities
Managers fees
Rates and water
Insurance
Light and heat
Telephone
Sundries
Maintenance and cleaning
Repairs
Website costs
Security
Holiday, activity and food fund
Bank loan interest
Other
Freehold property
Fixtures and fittings
2024
£
11,000
-
1,580
12,580
50,145
62,725
8,157
2,585
3,024
7,420
1,007
343
4,992
3,314
576
551
-
707
32,676
10,832
4,615
15,447
2023
£
-
7,480
2,583
10,063
39,402
49,465
6,925
2,456
3,507
4,635
1,129
21
8,557
3,792
700
796
5,760
943
39,221
10,832
3,648
14,480

This page does not form part of the statutory financial statements

Page 17

Centre For Outdoor Activity And Community Hub

Detailed Statement of Financial Activities for the Year Ended 30 June 2024

Support costs
Finance
Bank charges
Governance costs
Accountancy fees
Legal and professional
Total resources expended
Net income/(expenditure)
2024
£
60
636
1,492
2,188
50,311
12,414
2023
£
61
600
-
661
54,362
(4,897)

This page does not form part of the statutory financial statements

Page 18

Issuer Cooper Associates Accountants Ltd Document generated Mon, 24th Feb 2025 15:09:02 GMT Document fingerprint ca138834399936ae91c985b149ce44d4

Parties involved with this document

Document processed

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