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2023-03-31-accounts

THE LODGE ACTION SPORTS CLUB CIO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

The Lodge Action Sports Club CIO Financial Statements For The Year Ended 31 March 2023

Contents

Contents
Page
Company Information 1
Trustees' Report 2
Independent Examiner's Report 3
Income and Expenditure Account 4
Balance Sheet 5
Notes to the Financial Statements 6—7

The Lodge Action Sports Club CIO Charity Information For The Year Ended 31 March 2023

Trustees A Larner P Corbiere N Taylor K Robinson M Hawman Charity Number 1161101 Registered Office The Lodge Indoor Skatepark Wharf Road Newton Abbot Devon TQ12 2DA Accountants Accounting 4 Everything SW Ltd T/A Accounting4Everything Chartered Accountants 13 Hyde Road Paignton Devon TQ4 5BW

Page 1

The Lodge Action Sports Club CIO Charity No. 1161101 Trustees' Report For The Year Ended 31 March 2023

The trustees present their report and the financial statements for the year ended 31 March 2023.

Trustees

The trustees who held office during the year were as follows:

A Larner

P Corbiere

N Taylor

K Robinson

M Hawman

By order of the board

N Taylor

24 August 2023

Page 2

The Lodge Action Sports Club CIO Independent Examiner's Report For The Year Ended 31 March 2023

Independent examiner’s report to the trustees of The Lodge Action Sports Club CIO

I report on the accounts of the CIO for the year ended 31 March 2023, which are set out on pages 4 to 7.

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.

It is my responsibility to:

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 next statement.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

…………………………………………….

24 August 2023

Accounting4Everything 13 Hyde Road Paignton Devon TQ4 5BW

Page 3

The Lodge Action Sports Club CIO Statement of Financial Activities For The Year Ended 31 March 2023

Unrestricted Unrestricted Unrestricted
Funds Funds
2023 2022
£ £
INCOMING RESOURCES
Skatepark takings 49,024 42,796
Grants received - 23,420
49,024 66,216
RESOURCES EXPENDED
Purchases for cafe 3,682 3,372
Other purchases 8,949 9,522
Rent & Utilities 24,782 21,730
Cleaning 917 900
Repairs, renewals and maintenance 138 2,769
Insurance 1,631 2,047
Advertising and marketing costs 1,824 1,372
Telecommunications and data costs - 499
Accountancy fees 1,234 818
Management fees 9,000 12,000
Depreciation 5,058 4,135
Sundry expenses 159 172
(57,374) (59,336)
OPERATING SURPLUS FOR THE FINANCIAL YEAR (8,350) 6,880
FUNDS BROUGHT FORWARD 37,165 30,285
FUNDS CARRIED FORWARD 28,815 37,165

Page 4

The Lodge Action Sports Club CIO Balance Sheet As at 31 March 2023

Notes
FIXED ASSETS
Tangible Assets
4
CURRENT ASSETS
Debtors
5
Cash at bank and in hand
Creditors: Amounts Falling Due Within One
Year
6
NET CURRENT ASSETS (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
Profit and loss account
SHAREHOLDERS' FUNDS		 2023
£
£
20,450
20,450
5,433
4,073
9,506
(1,141)
8,385
28,815
28,815
28,815
28,815		 2023
£
£
20,450
20,450
5,433
4,073
9,506
(1,141)
8,385
28,815
28,815
28,815
28,815		 2022
£
£

16,281


16,281
5,433
20,884

26,317
(5,433)


20,884


37,165


37,165


37,165


37,165		 2022
£
£

16,281


16,281
5,433
20,884

26,317
(5,433)


20,884


37,165


37,165


37,165


37,165
20,450




8,385		 16,281




20,884
9,506
(1,141)		 26,317
(5,433)




28,815 37,165
28,815 37,165
28,815 37,165
28,815 37,165

Approved by the trustees on 24 August 2023 and signed on their behalf by

24 August 2023

The notes on pages 6 to 7 form part of these financial statements.

Page 5

The Lodge Action Sports Club CIO Notes to the Unaudited Accounts For The Year Ended 31 March 2023

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Income Recognition

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations, are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

1.3. Expenditure Recognition

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 settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

1.4. 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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant & Machinery 10% straight line Fixtures & Fittings 10% straight line

2. Operating Profit / (Loss)

The operating loss is stated after charging:

. Operating Profit / (Loss)
he operating loss is stated after charging:
2023 2022
£ £
Depreciation of tangible fixed assets 5,058 4,135

3. Average number of employees

There were no employees during the accounting period (2022: nil).

Page 6

The Lodge Action Sports Club CIO Notes to the Unaudited Accounts (continued) For The Year Ended 31 March 2023

4. Tangible Assets

Cost
As at 1 April 2022
Additions
As at 31 March 2023
Depreciation
As at 1 April 2022
Provided during the period
As at 31 March 2023
Net Book Value
As at 31 March 2023
As at 1 April 2022		 Plant &
Machinery
£
5,135
9,227		 Fixtures &
Fittings
£

36,218

-		 Total
£

41,353

9,227
14,362
36,218
50,580
2,440
1,436
22,632

3,622
25,072

5,058
3,876
26,254
30,130
10,486
9,964
20,450
2,695
13,586
16,281

5. Debtors

Prepayments and accrued income 2023
£
5,433
5,433		 2022
£
5,433
5,433

6. Creditors: Amounts Falling Due Within One Year

Other creditors
Accruals and deferred income		 2023
£
-
1,141
1,141		 2022
£
-
5,433
5,433

7. Analysis of Funds

. Analysis of Funds
Unrestricted
Income
fund
£
General Funds
As at 1 April 2022 37,165
Net Movement in year (8,350)
As at 31 March 2023 28,815

Page 7