AXMINSTER SKATEPARK
TRUSTEES' REPORT
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CHARITY NUMBER 1161283
Axminster Skatepark
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Accountants' Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 9 |
Axminster Skatepark
Reference and Administrative Details
| Charity Registration Number | 1161283 | |
|---|---|---|
| Registered Office | Musbury Farm | |
| Musbury | ||
| Axminster | ||
| Devon | ||
| EX13 8BB | ||
| Trustees | D Hawken | |
| N Rose-Walton | ||
| R Maguire | ||
| E Chubb | ||
| J Preston | ||
| I L Hall | ||
| H Cann | ||
| B McGovern | ||
| L Harmes | ||
| P Davidson | ||
| Accountants | Westcotts | Accountants |
| Timberly | ||
| South Street | ||
| Axminster | ||
| Devon | ||
| EX13 5AD |
Page 1
Axminster Skatepark
Trustees' Report
The trustees present their report and the financial statements for the year ended 31 December 2024. The trustees who served during the year and up to the date of this report are set out on page 1.
Objectives and activities
Objects and aims
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 Skatepark has been built on East Devon District Council Land and was funded by the council using Section 106 funds. The Charity pays for upkeep of the park, insurance and any upgrades or improvements.
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.
Structure, governance and management
Axminster Skatepark is a Charitable Incorporated Organisation, incorporated on 15 April 2015.
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').
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... L Harmes Trustee
Page 2
Chartered Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of Axminster Skatepark for the Year Ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Axminster Skatepark for the year ended 31 December 2024 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given 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 or a review of the accounts of Axminster Skatepark. 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 statutory accounts.
Westcotts Chartered Accountants Timberly South Street Axminster Devon EX13 5AD
Date:.............................
Page 3
Axminster Skatepark
Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Total income Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 9 |
Unrestricted funds £ 5,689 5,689 (1,880) (2,341) (4,221) 1,468 1,468 5,340 6,808 |
Total 2024 £ 5,689 5,689 (1,880) (2,341) (4,221) 1,468 1,468 5,340 6,808 |
Total 2023 £ 11,183 |
|---|---|---|---|
| 11,183 | |||
| (2,013) (4,944) |
|||
| (6,957) | |||
| 4,226 | |||
| 4,226 1,114 |
|||
| 5,340 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 9.
The notes on pages 6 to 9 form an integral part of these financial statements. Page 4
Axminster Skatepark
(Registration number: 1161283) Balance Sheet as at 31 December 2024 1161283
| Note Current assets Debtors 7 Cash at bank and in hand 8 Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 9 |
2024 £ 2,329 4,479 6,808 6,808 6,808 |
2023 £ - 5,340 |
|---|---|---|
| 5,340 | ||
| 5,340 | ||
| 5,340 |
The financial statements on pages 4 to 9 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... L Harmes Trustee
The notes on pages 6 to 9 form an integral part of these financial statements. Page 5
Axminster Skatepark
Notes to the Financial Statements for the Year Ended 31 December 2024
1 Charity status
Axminster Skatepark is registered in England and Wales as a Charitable Incorporated Organisation, incorporated on 15 April 2015.
The address of its registered office is:
Musbury Farm Musbury Axminster Devon EX13 8BB
2 Accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Basis of accounting
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Cashflow
The charity has taken advantage of the exemption available from the requirement to produce a cashflow statement because it is a small charity.
Income and endowments
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 the income receivable can be measured reliably.
Donations and legacies
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 by the charity 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 these conditions will be fulfilled in the reporting period.
Page 6
Axminster Skatepark
Notes to the Financial Statements for the Year Ended 31 December 2024
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.
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
Charitable activities
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.
3 Income from donations and legacies
| Donations and legacies | Unrestricted funds General £ 5,689 5,689 |
Total 2024 £ 5,689 5,689 |
Total 2023 £ 11,183 |
|---|---|---|---|
| 11,183 |
4 Expenditure on raising funds
a) Costs of generating donations and legacies
| Purchases Purchases |
Unrestricted funds General £ 1,880 Unrestricted funds General £ 2,013 |
Total 2024 £ 1,880 |
|---|---|---|
| Total 2023 £ 2,013 |
Page 7
Axminster Skatepark
Notes to the Financial Statements for the Year Ended 31 December 2024
5 Expenditure on charitable activities
| Unrestricted | ||
|---|---|---|
| funds | Total | |
| General | 2024 | |
| £ | £ | |
| Insurance | 2,341 | 2,341 |
6 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
7 Debtors
| 7 Debtors |
||||
|---|---|---|---|---|
| Trade debtors 8 Cash and cash equivalents Cash at bank 9 Funds Unrestricted funds General General Funds Unrestricted funds General General Funds |
Balance at 1 January 2024 £ 5,340 Balance at 1 January 2023 £ 1,114 |
Incoming resources £ 5,689 Incoming resources £ 11,183 |
2024 £ 2,329 2024 £ 4,479 Resources expended £ (4,221) Resources expended £ (6,957) |
2023 £ - |
| 2023 £ 5,340 |
||||
| Balance at 31 December 2024 £ 6,808 |
||||
| Balance at 31 December 2023 £ 5,340 |
Page 8
Axminster Skatepark
Notes to the Financial Statements for the Year Ended 31 December 2024
10 Analysis of net assets between funds
| 10 Analysis of net assets between funds | ||
|---|---|---|
| Current assets Current assets |
Unrestricted funds General £ 6,808 Unrestricted funds General £ 5,340 |
Total funds at 31 December 2024 £ 6,808 |
| Total funds at 31 December 2023 £ 5,340 |
Page 9