Charity Registration No. 1159288
ASYLUM ACADEMY FOR EXTREME SPORTS (ACES) TRUSTEES REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024
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 2024
The trustees present their report and accounts for the year ended 30 November 2024.
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 the Charities Act 2011 and 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 published in October 2019.
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 existing employees. Mr Jack Plowman is 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
-
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.
-
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.
Achievements and performance
There has been an increase in new participants throughout the year, both in the skatepark and in bouldering, alongside continued attendance from regular customers who participate at least once a week. The skatepark has become a British Cycling accredited facility and Freestyle BMX Team GB members are using the skatepark to train on the run up to the Paris Olympics, which should attract more newcomers, especially if they win medals again.
- 1 -
ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024
Financial review
The charity has excess income over expenditure of £13,775 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: 7 August 2025
- 2 -
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 2024, 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 ICAEW.
It is my responsibility to:
-
(i) examine the accounts under section 145 of the 2011 Act;
-
(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
-
(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:
-
(a) which gives me reasonable cause to believe that in any material respect the requirements:
-
(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
-
(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
ICAEW Synergy House 7 Acorn Business Park Commercial Gate Mansfield Nottinghamshire NG18 1EX
Dated: 7 August 2025
- 3 -
ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2024
| Notes Incoming resources from generated funds Investment income 2 Incoming resources from charitable activities 3 Total incoming resources Resources expended 4 Charitable activities Skate park and hire of equipment Governance costs Total resources expended Net income/(expenditure) for the year/ Net movement in funds Fund balances at 1 December 2023 Fund balances at 30 November 2024 |
2024 £ 304 413,665 413,969 234,837 141,260 376,097 37,872 149,918 187,790 |
2023 £ 174 350,410 350,584 252,199 149,412 401,611 (51,027) 200,945 149,918 |
|---|---|---|
- 4 -
ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
BALANCE SHEET
AS AT 30 NOVEMBER 2024
| Notes Fixed assets Tangible assets 7 Current assets Stocks Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after more than one year 9 Net assets Income funds Unrestricted funds |
£ 1,895 51,553 53,448 23,834 |
2024 £ 191,543 29,614 221,157 33,367 187,790 187,790 187,790 |
2023 £ 2,800 23,939 26,739 (41,738) |
£ 186,378 (14,999) 171,379 (21,461) 149,918 149,918 149,918 |
|---|---|---|---|---|
The accounts were approved by the Trustees on 7 August 2025
| Mr M J Hobbs | Mr A J Buchanan |
|---|---|
| Trustee | Trustee |
- 5 -
ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024
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 Investment income
| Interest receivable Incoming resources from charitable activities Skate park fees Grant income |
2024 £ 304 2024 £ 368,670 44,995 413,665 |
2023 £ 174 |
|---|---|---|
| 2023 £ 350,410 - |
||
| 350,410 |
3 Incoming resources from charitable activities
- 6 -
ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024
4 Total resources expended
| Total resources expended | ||
|---|---|---|
| Charitable activities Skate park and hire of equipment Activities undertaken directly Governance costs |
2024 £ 234,837 141,260 376,097 |
2023 £ 252,199 149,412 |
| 401,611 |
Governance costs includes payments to the examiners of £1,080 (2023: £864) for examination fees.
5 Trustees
None of the trustees (or any persons connected with them) received any remuneration or reimbursement during the year.
6 Employees
Number of employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Charitable activity | 7 | 7 |
There were no employees whose annual remuneration was £60,000 or more.
- 7 -
ASYLUM ACADEMY FOR EXTREME SPORTS (ACES)
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024
| 7 Tangible fixed assets Plant and machinery Fixtures, fittings & equipment £ £ Cost At 1 December 2023 292,650 21,008 Additions 38,204 839 At 30 November 2024 330,854 21,847 Depreciation At 1 December 2023 112,925 14,355 Charge for the year 32,004 1,874 At 30 November 2024 144,929 16,229 Net book value At 30 November 2024 185,925 5,618 At 30 November 2023 179,725 6,653 8 Creditors: amounts falling due within one year 2024 £ Bank loans 3,408 Taxes and social security costs 6,135 Accruals 14,291 23,834 9 Creditors: amounts falling due after more than one year 2024 £ Bank loans 19,674 Other creditors 13,693 33,367 Analysis of loans Wholly repayable within five years 23,082 Included in current liabilities 3,408 19,674 |
Total £ 313,658 39,043 352,701 127,280 33,878 161,158 191,543 186,378 2023 £ 5,030 14,792 21,916 41,738 2023 £ 21,461 - 21,461 26,491 (5,030) 21,461 |
|---|---|
- 8 -