Charity Registration No. 1159288
ASYLUM ACADEMY FOR EXTREME SPORTS (ACES) TRUSTEES REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2022
ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr M J Hobbs Mr A J Buchanan Mr S R Wharton-Howett Charity number 1159288 Principal address 9 Arlington Drive Swanwick Alfreton Derbyshire DE55 1BD Independent examiner Stopfords (Mansfield) Limited Synergy House 7 Acorn Business Park Commercial Gate Mansfield Nottinghamshire NG18 1EX
ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6 - 8 |
ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
TRUSTEES REPORT FOR THE YEAR ENDED 30 NOVEMBER 2022
The trustees present their report and accounts for the year ended 30 November 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's [governing document], the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Structure, governance and management
The charity was established by a charitable trust deed on 20 November 2014.
The trustees who served during the year were: Mr M J Hobbs Mr A J Buchanan Mr S R Wharton-Howett
Power to appoint and remove trustees rests with the trustees in general meeting. Trustees are elected by word of mouth.
The trustees have overall responsibility for the charity, and over the exisiting employees. Mr Jack Plowman in in control on a day to day level and is also the main manager for the park. He supervises the other employees.
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Objectives and activities
The charity's objectives are
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To promote community participation in healthy recreation by the provision of facilities for taking part in skateboarding, BMX, inline skating and scooter riding. 2021 saw the introduction of a bouldering wall to increase the activities offered.
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To relieve the poverty of young people in the Ashfield District and surrounding areas by providing opportunities for them to participate in healthy recreational activities that they could not otherwise afford.
The policies are adopted in furtherance of these objectives are to keep prices for entry to the skatepark as low as they can be be with regard to the costs of providing the facilities. To promote the skatepark to all interested parties, including those with disabilities, and to promote the skatepark to all people, but especially to young people as a way of keeping fit and healthy, especially in the current climate of child and adult obesity.
There has been no change in these during the year.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The activities of the charity has been that of providing a purpose built skatepark for the local and surrounding area. The skatepark caters for skateboarders, BMX riders, inline skating and scooter riding for all ages and abilities.
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ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022
Achievements and performance
Asylum ACES continues to provide a first-class indoor extreme sports facility that is much needed in our community. The number of participants in the skatepark and the bouldering room are continuing to rise, although the extremely hot, dry weather from March to October has given us another challenging year. We continue to enhance our facility with recent improvements to the street section of the skatepark and the addition of numerous holds, volumes and routes in the bouldering room. Changes to the facility are imperative to keep customers coming back on a regular basis, especially in the bouldering room, where routes must be changed regularly to keep it challenging and fun.
Financial review
The charity has incurred excess expenditure over income of £1,593 this year and this has been transferred to the general unrestricted reserve account.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the receipt from HMRC.
On behalf of the board of trustees
..............................
Mr S R Wharton-Howett
trustee Dated: .........................
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ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
I report on the accounts of the charity for the year ended 30 November 2022, which are set out on pages 4 to 8.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination being a qualified member of .
It is my responsibility to:
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(i) examine the accounts under section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
have not been met; or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr Phillip Nicholson Stopfords (Mansfield) Limited
Synergy House 7 Acorn Business Park Commercial Gate Mansfield Nottinghamshire NG18 1EX
Dated: .........................
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ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2022
| Notes Incoming resources from generated funds Donations and legacies 2 Investment income 3 Incoming resources from charitable activities 4 Total incoming resources Resources expended 5 Charitable activities Skate park & hire of equipment Governance costs Total resources expended Net expenditure for the year/ Net movement in funds Fund balances at 1 December 2021 Fund balances at 30 November 2022 |
2022 £ 9,028 22 9,050 334,534 343,584 206,474 138,703 345,177 (1,593) 202,538 200,945 |
2021 £ 18,006 5 18,011 216,615 234,626 174,778 84,181 258,959 (24,333) 226,871 202,538 |
|---|---|---|
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ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
BALANCE SHEET
AS AT 30 NOVEMBER 2022
| Notes Fixed assets Tangible assets 8 Current assets Stocks Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after more than one year 10 Net assets Income funds Unrestricted funds The accounts were approved by the Trustees on .................. .............................. Mr M J Hobbs trustee |
2022 £ £ 217,761 1,800 29,302 31,102 (26,457) 4,645 222,406 (21,461) 200,945 200,945 200,945 ....... .............................. Mr A J Buchanan trustee |
2021 £ - 66,553 66,553 (80,212) |
£ 244,372 (13,659) 230,713 (28,175) 202,538 202,538 202,538 |
|---|---|---|---|
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ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
1 Accounting policies
1.1 Basis of preparation
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and the Charities Act 2011.
1.2 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery 10% straight line Fixtures, fittings & equipment 25% reducing balance
1.3 Stock
Stock is valued at the lower of cost and net realisable value.
2 Donations and legacies
| Donations and gifts 3 Investment income Interest receivable 4 Incoming resources from charitable activities Skate park fees |
2022 £ 9,028 2022 £ 22 2022 £ 334,534 |
2021 £ 18,006 |
|---|---|---|
| 2021 £ 5 |
||
| 2021 £ 216,615 |
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ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022
5 Total resources expended
| Total resources expended | ||
|---|---|---|
| Charitable activities Activities undertaken directly Governance costs |
2022 £ 206,474 138,703 345,177 |
2021 £ 174,778 84,181 |
| 258,959 |
Governance costs includes payments to the examiners of £864 (2021 £864) for examination fees.
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or reimbursement during the year.
7 Employees
Number of employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| Charitable activity | 7 | 9 |
There were no employees whose annual remuneration was £60,000 or more.
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ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022
| 8 Tangible fixed assets Plant and machinery Fixtures, fittings & equipment £ £ Cost At 1 December 2021 292,650 16,139 Additions - 4,689 At 30 November 2022 292,650 20,828 Depreciation At 1 December 2021 54,395 10,023 Charge for the year 29,265 2,034 At 30 November 2022 83,660 12,057 Net book value At 30 November 2022 208,990 8,771 At 30 November 2021 238,256 6,116 9 Creditors: amounts falling due within one year 2022 £ Bank loans 7,300 Accruals 19,157 26,457 10 Creditors: amounts falling due after more than one year 2022 £ Bank loans 21,461 Analysis of loans Wholly repayable within five years 28,761 Included in current liabilities (7,300) 21,461 |
Total £ 308,789 4,689 313,478 64,418 31,299 95,717 217,761 244,372 2021 £ 7,300 72,912 80,212 2021 £ 28,175 35,475 (7,300) 28,175 |
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