AXMINSTER SKATEPARK
TRUSTEES' REPORT
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
CHARITY NUMBER 1161283
Axminster Skatepark Charity Number 1161283
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees report | 2 - 3 |
| Accountants' report to the trustees | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 9 |
Axminster Skatepark Charity Number 1161283
Legal and administrative information
| Status | Charitable Incorporated Organisation | |
|---|---|---|
| Charity number | 1161283 | |
| Registered office | Musbury Farm | |
| Musbury | ||
| Axminster | ||
| Devon | ||
| EX13 8BB | ||
| Trustees | O Tucker | Appointed 18 May 2021 |
| C Billington | ||
| I L Hall | ||
| P Measures | ||
| E Chubb | ||
| A Moulding | ||
| J Hall | ||
| Accountants | Westcotts |
Page 1
Axminster Skatepark Charity Number 1161283
Report of the trustees
for the year ended 31 December 2021
The trustees present their report and the financial statements for the year ended 31 December 2021. The trustees who served during the year and up to the date of this report are set out on page 1.
Structure, governance and management
Axminster Skatepark is a Charitable Incorporated Organisation, incorporated on 15 April 2015.
Objectives and activities
Objectives
Our objective is to promote for the benefit of the inhabitants of Axminster and the surrounding area, the provision of facilities for recreation or other leisure time occupation, in particular but not exclusively, roller-skating, skateboarding and bmx biking, for individuals who have need of such facilities.
The organisation was originally established in January 2013 for the purpose of raising funds for the skate park, for the benefit of the young people of Axminster and surrounding areas.
Activities
Our main activities to date are raising funds through charitable events and donations. However, the purpose of the charity is to develop and operate a skate park in Axminster.
Achievements and performance
The charity has continued to progress plans for the development stage of the skate park project.
Public benefit
Through the continued work of the charity to support and develop the skate park facilities in Axminster, the trustees consider that the charity has complied fully with its duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
Financial review
During the year ended 31 December 2021 there has been little activity. We have been directing our efforts towards raising additional funds to restore our balances in the future and we are confident that major grant applications will be successful and enable us to deliver the new skatepark for Axminster.
Reserves
It is the charity's ambition to raise funds for the development and maintenance of Axminster's skate park. At present the charity continues to raise adequate reserves for this development project. Once the project is complete it will be the charity's aim to retain unrestricted reserves that will cover foreseeable maintenance costs for the following 12 months.
Page 2
Axminster Skatepark Charity Number 1161283
Report of the trustees for the year ended 31 December 2021
Statement of trustees' responsibilities
The trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
On behalf of the board
.................................................................................. A Moulding
Trustee
Page 3
Axminster Skatepark Charity Number 1161283
Accountants' report to the trustees on the unaudited financial statements of Axminster Skatepark
In order to assist you to fulfil your duties under charity law, we have compiled the financial statements of the charity which comprise the statement of financial activities, the balance sheet and the related notes from the accounting records and information and explanations you have given to us.
As a practicing member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Westcotts Chartered Accountants
Timberly South Street Axminster Devon EX13 5AD
25/10/2022 Date: ..........................................................
Page 4
Axminster Skatepark Charity Number 1161283
Statement of financial activities
For the year ended 31 December 2021
| Unrestricted funds Notes £ Income and endowments from Donations and legacies 2 47 Activities for generating funds - Total 47 Expenditure on Other expenses 109 Total 109 Net movement in funds ) (62 Total funds brought forward 114 Total funds carried forward 52 |
2021 Total £ 47 - 47 109 109 ) (62 114 52 |
2020 Total £ - - |
|---|---|---|
| - | ||
| - | ||
| - | ||
| - 114 |
||
| 114 |
The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
There has been no restricted income or expenditure during this year or the prior period.
The notes on pages 7 to 9 form an integral part of these financial statements.
Page 5
Axminster Skatepark Charity Number 1161283
Balance Sheet
As At 31 December 2021
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Current assets | ||||||
| Cash at bank and in hand | 52 | 114 | ||||
| 52 | 114 | |||||
| Net current assets | 52 | 114 | ||||
| Net assets | 52 | 114 | ||||
| The funds of the charity | 4 | |||||
| Unrestricted funds | 52 | 114 | ||||
| Total funds | 52 | 114 | ||||
| The financial statements were approved by | the trustees on | ..................................25 | October | 2022 | and | |
| signed on its behalf by | ||||||
| ...................................................................... | ...................................................................... | |||||
| I L Hall | A Moulding | |||||
| Trustee | Trustee |
The notes on pages 7 to 9 form an integral part of these financial statements.
Page 6
Notes to financial statements for the year ended 31 December 2021
Axminster Skatepark Charity Number 1161283
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Basis of accounting
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 Charities Act 2011.
1.2. Cashflow
The charity has taken advantage of the exemption available from the requirement to produce a cashflow statement because it is a small charity.
1.3. Income
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
1.4. Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 7
Notes to financial statements for the year ended 31 December 2021
Axminster Skatepark Charity Number 1161283
1.5. Judgements and key sources of estimation uncertainty
The preparation of the accounts requires the management to make judgements, estimates and assumptions that affect the amount 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 in the circumstances.
1.6. General information
The charity is registered in England and Wales as a Charitable Incorporated Organisation. The principal office address is detailed on page 1 of these financial statements. The financial statements are prepared in sterling, which is the functional currency of the entity.
2. Donations and legacies
| Donations | 2021 Total £ 47 47 |
2020 Total £ - |
|---|---|---|
| - |
3. Trustee Remuneration
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. No expenses were reimbursed to trustees during the year.
4. Analysis of net assets between funds
| Unrestricted funds £ Fund balances at 31 December 2021 as represented by: Current assets 52 52 |
Total funds £ 52 52 |
|---|---|
Page 8
Axminster Skatepark Charity Number 1161283
Notes to financial statements for the year ended 31 December 2021
| 5. | Unrestricted funds | At | At | ||
|---|---|---|---|---|---|
| **1 January ** | Incoming | Outgoing | 31 December | ||
| 2021 | resources | resources | 2021 | ||
| £ | £ | £ | £ | ||
| Provision of facilities for recreation | 114 | 47 | ) (109 |
52 |
Page 9