Comparhy regi5tratioD number.. CE004941 Cliarity registration number.. 1162504 Ospreys Wheelchair Rugby Annual Rcport aiid Financial Statements for tlie Year Ended 31 July 2025 Ospreys Wheelchair Rugby Contents R¢f¢r¢i)ce ttnd Adminsstrative DetaiLs Straiegic Report 2to3 Trustee5' Repojt 4t07 Indep¢ndeni Exaiiiinels Report Siatoment of Financial Activitie5 Balaiwc Shcet 10 Noles to th¢ Financial Stat¢ineiits Ospiyys Wheelchalr Rugby Reference and Administrative Details ChAlrmwn A Flay ChArlly Regl¥t*Allon P4umber 1162504 Comp¥ny ReRlstration Number CE004941 Registei'ed Offlee 128 Chapel Road Clydach Swansea SA6 SPE Independ¢ni ExAmlner LIIP Audii Lid Llys tkri Parc PensArn Carinarthen SAI12NF Page I Ospreys Wheelchair Rugby Strategic Report for the Year Ended 31 July 2025 The Irustecs, wlio diie¢loi's for the purw)ses of compatiy law, w¢srni their slrategic report for the year ended 31 July 2025, in compliance with $414C of ih¢ Companies Act 2006. A¢hlevemenls 4nd pei'formanee The charity continues to operate suc¢¢55fiilly, enabliiig individuals wilh disabilities to trfiiil and compete in wheel¢knir ru8by throu8Ji Osprey8 Wheelchair Riigby. The club provides sp¢¢i8lis¢ Y￿r¢S ivhcel¢liHiis and cquipment to ¢nsur¢ dial player5 are able lo participate Safely and competitively iii Ilie spoi'l. Regulai. It7ining scssions Are delivered and the cliarity supports players to participate in natiThnal ivlieelchair nighy conipelitions. Dujing Ili¢ year the chArity continued to SllPPOTt two 1¢8ms competing wiihin the national wheelchair Iwgby league 8lruLliir¢, piDviding oppurtunities for pl•y¢r3 to devrlop theii. 5ki115 lli)d repj'esejil th¢ club iii Coiiipetition. The reporting period h&s Blso seeii a period of organiglltional dev¢lopiii¢nt for Iht chlli'ity. The ix)aTd hos uthdei'8onc chanbies, wjth Ii¢w tru.¥leL% jiiiniiig and briIigiriu additional piofessi()11th1 skllls. experi¢ii¢¢ aiid ext¢rnal pcrspeciives lo the orgaiiisatinii. Tliege cliaiige5 11ov¢ sir¢iigilJ¢ned Ihc 8ovcrnance of tlie ¢liarity and in¢r¢ased di¢ ¢apa¢ity LTrf tlic board lo support club's ongoing devclopnieni. Trustees havc a150 worked ￿ $tr¢n¥th¢n rrl4lionship5 with externol supporkJ3 and partners and lo build strong¢r cunneclion$ witli the wider Ospreys netwoi.k. 'lThese develoyiiienl8 are int￿nd￿ lo $upw)rt th¢ long tem) sust&in4bilily of th¢ club and I'aise the profilc of wlicel¢hoii iugby wiihiji thc rt8ion. The TNslee% have al.go 18k¢n 5kps lo stabilise the financial position c)f the charity ihrough iniprovcd nversi8hi of inLOli)e aiid cxpciidiliire and l)y str¢o111linirtg operational costy wlier¢ appropi'iate. Tlicyc nieasurcs ainl to ensure that tlie ¢liulty'3 resOu￿¢S continue to be foctssed on supportinm pArticip#iion in wheelcliair ru8by. FliiAiitlil i'evlew During the rcportin8 pcriod Ilic Trustee8 have ¢tJnlinued lo review Ilitt fjiiancial position ijf the charity. F.fforis IIAve bceh mHde to 81Abili.%e iii¢ome $treNnis And ¢n8urc Ihal exiicnditurc Is LAltfully mAnag¢d so thot re50UTce5 rcili￿n foLused oi) d¢liv¢riiig tli¢ chwity's cove ￿liVItIes. Policy oil res¢nY The cliarily's policy on r¢s¢rves is to JTiaiiitain upproxiii)alely three mu#ths ofrunnirig costs wiiliin unr¢slricted i¢s¢rve5. '1'his Iielps eiisure thai the charity is able lo coiitinue operating dnd iiieet 115 ¢omniitsnent$. Prlii¢lp¢ilfHiidlii¥ sfMtrLe Tli¢ charity rccEive5 grants and donatlons froni sup]M)rters and partner or8an15alions. Additional income is generkied tlirough club In¢rnber8liips and r￿lIdro1s1Dg activity. Page 2 ospreys Wheelchair Rugby ,Strategic Report for the Year Ended 31 July 2025 Plgiis for future periods Alttis oiidkey obJe¢llvesforfuliirEperiod Thc chwity's i)iain aini for the future is to ¢ontinu¢ providiiig oppoi"tunititts for people with disabilitlC8 to trhin and eornpete in wheelchair rugby and to S￿ppOrt the ongoing develnpinent of the club and ils players. The Twslees ivill coThtinue to Slrengihen governance, d¢v¢lop p8rln¢rships aiid seek sU5tsinable (unding opptsrtiiniiics in ord¢r to $iippoit the long terrn development of the ¢harity. Tlie strattgic rcporl was approved by tli¢ irusl¢¢s of th¢ ¢1￿1[ty on %.7.1.Q.&1.2.fi. and sigiicd on its belialf by.. Chnirn)an Page 3 Ospreys Wheelchair Rugby Truste￿, Report Tlie trustees, who are directors foj. the pu]poses of company law. PTe5eni the aniiu81 t?w)rt together with the rinanctal statements and Auditors, r¢port of th¢ ¢harilable company for the yeo1' ended 31 Jiily 2025. Objeetivts gnd activitles Objecl.i ￿nd￿lI• The objcBls of Ilic cliarity arc to pJY)mote &nd d¢v¢lop wlieelchNii' Yu8by wiihiii the coJnmLinity, sp¢¢ifically across the Soutli Waley area, by piDvidiiig faLilititts fov the playing of wlJeelcli&ir rugby and coordinatin8 Ihc d¢velopment aijd mAnag¢met)i of A wheelcliaii J'ugby team. In %etling ohjeclives and planning f(w activitie%, the Trusl¢¢$ have Biveii due coiisidcrètioii to the ¥uidance publislicd by the Cliai'ily Cuiiiniission r¢lhiits&b to publiL bcncfil. iJicludiii¥ the guidattce"Public bencfiL runi)inB cliarity IPB2)" Objeellves..flMieg1￿ aiirf aclivili¢s The charity fa¢iliiAie$ Ilic operalinn of Ospreys Wli¢¢l¢liaiY Rughy by providin8 CqllipI￿ent, fa¢ili¢ies and suppoil necessary r(Jr individua15 with di5abiliti¢s lo parliLIp8te in tlie spori. This includes ihc provision moinienunce of specialisi Spoils wlieelchoirs wid ¢quipmenl, ac￿53 to appr()priate training f&¢iliiies and c()aching 8upport, aiid tinancial &$.%islanLe Ihat enables Ilie ieain to compele in national whe¢lchNir ru8by conipeliiions. The cliarity continuc$ lo projjiote wli¢¢lcliair rughy aciDs5 Souih Walcs liid ttLtively seeks ￿ Itcruil new Jiiciiib¢i3 wid volunle¢rs fwin ili¢ Lumiiiuiiityl Iielyiiig lo iiicreslse p4rtl¢ipalion lil (lie sport. Dui'in8 Ilic I'cporiin8 PCL'iod tli¥ chai'ily L(>nlinued io siippoi'l Ilie i'uiiniThbr of Ihc ¢lub its competitive teAms. eiiabling players lo train rcgiilgrly And participate in national ILagUC coiiiiielilionq, Th¢ chyrity has also begun developing stronger relatlonsliips with cxlernal p&rtners and siipporter%, including nn¢¢t10118 wilh tl)e ivider piY)Icssional nchvork a8yocialed with the O%prcys. These r¢IRti￿18hlpS aim to strengthen tlk vijibllity and long term suslainability ol'wheelcliair ru8by th¢ r4ion. Pmbllc lJeneJ71 The Tru51ccs liavc rcfcrred lu I1￿ ￿Ul￿41ThLe Lonlain¢d iii Ili¢ ClIArity Cuiiimi55i0n's g¢ncr81 kiuidan¢e on public ben¢fit wljen rcviewing the Ailiis and objectives tsf ilic cliarity #nd in plaiininy IL% fvture activities. In paitic￿l￿r Ilic Ti'usie¢s considcr liow tlie cliarity'5 aLlivilies conlribui¢ lo its objectlVCS. 5pccifJcally the proiiioiioii of participation in wljcclchasr rugby and th¢ piY)vision of inLlusive spoilink op￿rtunitieS lor people The trusiees confirjn tliat they hwe e(TrJnplied willi the iiqvirements of sectioi) 17 of the Ch8riti¢E Aci 201 I to Iiave due Ye8ard to tlie pijblie benefit 8uidan¢¢ piiblislied by thc C.liarity Coimiiiission for F.nglaNd Aiid Wales. coij¢¢rn After makiiJ8 appropriate eiiquiries, t1￿ Trustee5 hav¢ a ¥¢Asonable expeclatSoA that the charity has adequate Irsourc¢s to continu¢ in op¢ralional ¢xi8l¢n¢e for the foirseeable fviure. For thi% rvdson they continue t(Tr adopt Ihe Boing ¢oo¢em bosis in pv¢parin8 lh¢ financial Slatcniertts. Trnsteei find offic¢rg The trustees and offjccrs serviIiB during the year and Since the year end wcre as follow5.' Page 4 Osprey5 Wheelehair Rugby Trvsteesl Report Trusiees.. C Blackburij (appoinled 2 Api'il 20251 J Collins (appoittted 13 Jaiiuaiy 20261 O West lapwinted 4 November 202SI J Martin {resigned 22 Sep(einber 2025) S Jones Iresigiied IS August 2025} R Bishop Iresigii¢d 2 May 20251 Saniucl S Lloyd {re8igthed 18 August 2025) Osprey% Rughy l.imited lappninted 24 S¢pt¢mbcr 20251 L Parsons {appoiiited I S December 20251 A Flay (appointed 2 Api'il 2025) ChaiTnian'. A Flay lappoiiited 15 December 2025) Strnclure> Roverninee and maiiagenient Naliire ofxoveriilii8 doemhieiil Oipreys Wheelchair Ru8hy is a registered ¢h8Tity al￿ ts controlled by its oovemin8 documen( aiid wn.sii￿ttd a chai'ilable incorporatcd or8&ni.%ation. R¢cntlIii￿1II Mwd fippvliilTrwnl oJimsle¢s The n)&naL¢ement (Jf Ilie cliarity 15 the re5pnn%ibility of the Trusleeg, who el¢¢t¢d and co opted undor the (el'ms of tlie Koveriiiiig docunicnt. liidiicilon t711d irnlnliix of iriislees Trustees rcceiv¢ Iraiiiiiig aiid iiiduLiion 4$ Irquired through Scssions with other irustees Aiid ihrougl) engag¢in¢nl with r¢lev8nl ¢xteriial or8anisatians wliere appropriale. Skills requirements on tli¢ B031YI are kept under review and th¢ recruitment of i)ew twst¢cs is und¢rtok¢n 10 eniure tljat the ch&rity has acc¢sy tu the knowled8e Bnd experience reqiiired to effeciively oveiie¢ its a¢livities. OrRuiilsallopiol sliucliire Tli¢ cliw'ity 15 adininist¢red and mana8ed by lh¢ truste¢ b¢wd in 4ccordwice with its e0115titutlon. During Ilie repoiting pcriod the ¢hAI'i¢y expeiyertced charbges withiii Ihc Irustce l>ttard. Tli¢ Tw8te¢s hovc tgken step4 to strejigthcii goveriiaiice Ihyougli the iY¢i'uilincnt of additional irustces who bring relcvan( professional cxpertis¢ and ¢xp¢riuce. Thi% lias enabled ili¢ charity lo benefit froill brnader.%killx and eXtel￿al perspectives, $lrengthenin8 oversight and gupporting ilic long tctm stral¢gi¢ d¢velopnicnt of tlie orgaJiis&tion. Page 5 Ospreys Wheelchaiy Rugby Trustees, Report R15k The Ti'iistees have identified and reviewed ihe risks to which the charity is exposed and liave impl¢m¢nted apprupriat¢ sy¥l¢ms and coiilrols io maiiage Iliose risks. The main risk faci118 the charity coiiliiiu¢s tt) be th¢ sour¢ing ursu￿1r1¢n( fuiiding lo support its activities. The Trusrees eonlinue to review iiicorJiE sources 2nd develop relaiionsliips willi i)ariners and siipporters in order to strengthen the ch8rity'g finaii¢tal sustainability. Flnancilll Instruments ObJecllve& uiidpolldes Th¢ ¢hariry's QCliVlliv% expuse it lu a numbu of financial i'i5ks iiicludiiig credit I'isk, cash nLSW risk and liquidity risk. The of fii)allCLal derivatjves Is 8ovenied by the charity'$ poli¢i¢s approved by the boa￿ of tnJ5¢¢cs, which provide wiilt¢ii principles 011 Ili¢ of linwicial dciivailve5 t() Inarbage tli¢se risks. 'l-h¢ cli&ri¢y does nol se da'ivative financiAI inslruments for speculative purposcs. Caslijlow rlsk lie charity'$ acliviiies expose il Pl'imarily to the finan¢iAI risks ()f change$ in foreigii currency exchange raies and iiitcrcst rAi¢$. Tlic charity uses foiri8n exchange fuiivard conira¢ts Qiid interest ralc swap contracts to l￿d$¢ iese cxpusures. Interest bcari118 assets ond liabililies sre held al rtxed i'al¢ to ensure cerlaiiity of Cish Iloivs, Credli ri.fk Th¢ ¢harity's principal finaiicial assels bank balances Rnd cash. trade artd ()Iher rec¢iv3hl¢s, and investn?enl8. Tlie Lhthrily's ¢redil risk is prilliarily ott*ibiilabl¢ lo lis trade Ir¢civablc5. The ai?iounts prcscnt¢d io Ilie bdlanLe sliect ar¢ nei uf thll(IwanLC% foi. doubiful receival)les. An alloivancc for inii)aimienl 1$ m￿¢ wlieK Ilieir is an 'deniified loss event whiclh, baxed on previoLlY expeh'iencc, is ¢vid¢nc¢ of a r¢duLiion iTh lh¢ i'ccovcj'obility of the 511 flows. The ¢redit risk 011 liquid fiinds and derivaliv¢ fiiiancial insiruinents is limited b¢cRw¢ the couiil¢rp#rties are banki witli h1￿h Li'¢dit-r&linbrs as51giicd by inlernatiojilll Crcdit-rating agencies. The chAri(y has no Signifi￿Th( concenlrltion tsf credit risk, wilh exposu￿ spreAd over N lurgc nuniber of ci)unterpJrtieg and LusloJJicr5. Ll¥iildlfji Atrk Iii order to maint8in liquidity to en$ur¢ that siiffi¢iei)t ￿nd.$ arc available for ongoin8 opcrations and future d¢v¢lopiii¢iits, th¢ Charity u%e% a n)ixlure 11( long-lerin and slioii-ierm debt Iiiiance. Further derails regarding liquidiry risk cin be fourhd irt the Statement of Dccountin8 policies in ilie fin#n¢i81 51&l¢n)eiitg. sla¢¢1￿Cli1 of truslets. i*sponslbllit5es I'he triEStC2% (who are als(J Ihe diLECtor% of O$prey$ Wheelchair Riigby for the purposes of company lawl yr¢ re8poiisiblc for pr¢p8ring thc INst¢¢s' r¢pori and Ilie fiNllJi¢ial siJiemcnl8 in accordancc with applieable law United Kiiigdoni A¢¢ouiiting Standards Iuiiitcd Kiiigdoin Generally Accepted Accountin8 Practice). Induding FRS 102 "Tlie Finan¢ial keportiiig Standgrd appliLabl¢ ii) the UK and Republic of Ireland.. Comp&ny law requires the li￿Ste¢S to prepai'e financiEI statements for carh finNn¢ial ye4r. Under coJnpHny law the trustee$ must appruv# the fjndncial 5tatciiienls unlesy they are satisfied that ikey give a trut and fair vicw of th¢ st&te of affairs of the charitable compony and of the incoiniThg resources and application of r£sour¢es, in¢lyding ils income And expcnditur4 of (lie charitable c￿npa1}Y for that PCL'iod. In prepai'ing ili¢s¢ financial slaleniciiL8, die Étustees are required to.. Pa8e 6 Ospreys Wheelchair Rugby Trustees, Report select suitable accouniing polici¢5 and apply them consisteiitly.. obsejve the m¢thod$ ind princrples in the C.harilie% 8ORP,' make judgements and estin)Ales tliat are reasonable and prudent; slate whether applicable &¢Louttlin8 sIBndards, compi'isin8 FR8 102 have been followed, subject to aThy mal¢rial deparlur¢s di5clused and explained in the financial 51alenieThlS: aiid prepare Uie fiiiancial statements on ¢lie going concern basis unless il is inappropriate to presunie tliat the chArilable company will continue in biisin¢ss. The twstee5 Are responsible for keeping PbDpcr accouiiting records that can disc105e with reasnnttble accuracy at any lin)¢ tli¢ finaiiLial p()siiion of lh¢ ¢118rtrlable coiiipany &iid enable Ihen) to ensure iliai tli¢ fiiioncial 8¢alemeiits coniply ivith the C.(Trnipanies Act 2006. Tliey ore olso rcsponsible for 5afe8uaYding the assets of t1￿ cliaritsbl¢ eoiiipaiiy and li¥th¢e for iakkng reayonablc s*ps for Ilic pr¢v¢nliun Aiid deleclion of fraud Rnd otlici. irregularities. Tli¢ ti'ust¢¢s are resportsible for Ihe moinl¢nan¢¢ and integrity of the corporate and finHnci41 informotion includvd on Ihe chfirit8blc compangs website. l.egtslalion goveiMiD% Ihc prcp&rAiion and disseminalion of rinunLial slaterneiits Iiiay differ fJ'Dni le8isl4(iuii iii uih¢i' juYisdi¢tioii$. Dlseloaure of Intonnailoii to Audltor Eacl) trustee ha$ tsken sitps that ihey oughi to hav¢ taken as a Iruslec in order lo niake tliems¢lves aware of any r¢l¢v&ni aiidit information and In esilblisl) Ihftl the charity'8 auditor is awai'e of ihat infoiTholion. Th¢ tn15t¢c$ coiifimi that iheir is no relevanl irtfoiynatioii that they kilow of and of whicli ¢hey know tlie aiidiloi. is wiawar¢. Tlie Bnnual report was Approved by t1￿ ¢ruslees ofili¢ cliaTity on %7.IQ.S/Rfi. Jnd si¥n¢d oil ils beli&lf by.. A Flay Chairinan Pag¢ 7 Ospreys Wheelchair Rugby Independent ExAminer's Report to the trustees of Ospreys Wheelchair Rugby ('the Company,) I r¢port to the chai'ity twslees on my rxamination of Ihc aecounts of ilie Company for the year ended 31 July 2025. ResponsSbllltles And bAsiB of iepoi't As Il)e cli81ity's Iiiistees of Ilie Company (Attd a150 tts director5 for ilie purposes of company lawl you are responsible for the pirpaiyiion ol. Ihe accounts in a¢¢ordance wilh Ilie Irquiirments of rhe (.'ompanies Act 2006 I'ihe 2006 Act'l. Having %atisficd my$elf that the a&ouiils of the Coinpany are not required to be audited under Part 16 of the 2006 Act and arc ¢li&rible for indepciident cxJminalioii, I report iii Irsp￿t ol Jiiy exaijiination of youi. Lharily's accouiits &% earricd out under section 145 of Ih¢ (.'haritie$ Act 2011 {'Ihe 2011 Act'l. In carrying out Iny examination I liBve followed the Direction$ given by the aiaiity Cojiimission under s¢¢¢ion 145(5)Ibl of the 2011 Acl. Independeiit txamlnei's statement I hov¢ compl¢l¢d my examinution. I confirm thot no inottcis have come to Jny atteiiiion in eohncctioii wilh tlic exa1￿1￿allon giving me cause to belicve.. l. accounting rewrd$ w¢ie noi k¢pt in r¢spe¢t of (Ispreys Wheelchair R￿¥bY as required by section 386 of thc 2006 Act,. or 2. th¢ ft¢counls do not Aca)rd with thnxc reci)Td5' or 3. thc ￿Coul)IS do ikot eJmply with the uLwuiitiiig Irquiremeiits of *ctioii 396 of tlic 2006 Act other IhAtb any r¢quirernent Ihai the accounts give a 'lruc and fair vicw, whi¢h 1.% nol a matter considered as part of independent e%Amination', oi. 4. the 8ceouiils liave noi b¢¢n preparcd in a￿()rdanCe wltli the ¥iiethods slid principley of ihe Slateiiieiit of Recommeiided l)ru¢tiLe fi?i- HE¢(iunlin¥ #nd reportiiiB by chJTilies lapplicable lo charities prepaiing th¢ir Accoiiiiiq in accoi'dance with the Fin&ncial Reporting SifindNfd applirabl¢ in the UK llnd Repiiblic of Ircl&Lnd (FRS 102)1. I liav¢ IID coiic¢rns and liave come across rio ()Ihcr nialtcrs iii connecli()n willi Ilie exaiiiinaiiorj lo ivliich aU¢ii¢ion shoiild be di2￿ iii tlii% iipojl in ordei. to en￿ble 8 pvoper und¢t¥laiidinB of (he accouiils lo be reached. Steven Edwards FCCA I.HP Audit Llys Del'i Parc PeJisL4m Carinarilien SA312NF Date.. ..11051a.G... Page 8 Ospreys Wheelchair Rugby Statement nf Financial Aetlvilies for the Year Ended 31 ,luly 2025 (Includlng Ineome and Expendlture Account and Stateineilt of Total Recognised Gains aiid Losses) Unrestrtcted Rutrlcted fun(L$ To1￿] 202.5 Note Incuiiie and Endowinenls from: Dnnatiollg and Icgacies oll￿r tradijig a¢tivitie5 37,650 3,643 43 J26 80,976 3,643 Total incoill¢ 41,293 43 J26 84.619 Expendllure on.. Charitable a¢tivili¢s Otlier expeiidituir 167,627) (15,9821 18.180 (83,609) 18.180 ToiAI ¢xi)cndiliii'e 34.162 101.789 Nct l¢xpenditur¢llincome 26.334 Nel tnoveinent in funds (26,3341 9,164 (17.170) ReeonelllAiloiJ of fuiid$ Total fuiids broubht foiward Totthl lunds carried fon¥Ard 17,184 59,628 16 6#,792 Re5trlc¢ed fuii S9,642 TotJl 2014 Unrt$li4cted Note Incorne Endowment$ Ihm: DonatTon5 Hnd Icgacics (hh¢r ITadiii¥ aclivitics TolNI iiicoine 60,650 3.536 15.650 76,300 64,186 15,050 79,836 Expendlture on: C.hai'ilable aclivities OtIKr expeiiditure 168,673) {17.768) 15,960 186,441) 15,960 Total e%pendilur¢ N¢i ¢xpendiftlr¢ Net movement in funds 68,673 33,728 ID2,401 4,487 18,07 22,565 (4.4871 118,0781 {22.565) Re¢onclll4llon or runds Total fvnds brought forwArd 20,113 97.819 Total fiinds carried fotWA 16 15,626 59,628 75,254 All Df tl* ¢harity'5 aCtivili¢5 dErivc from conlithuiiig oprrations dui'irhg thc above Nvo PEriods. Tlir fwid$ brcakdoivr) for 2024 i$ siiowt) iii note 16. The notes on p8ges I I to 21 forni an intcgr&l part of tliese finonci21 stAtenienls. P38e 9 Ospreys Wheelchair Rugby (Registration numbei.: CE004941) Balance Sheet as at 31 July 2025 2025 2024 Note Fixed gssets angihle assds 12 33,629 34,799 Curient Asse tkbtors Cash at bank and in hand 13 14 7.500 37,391 44,1191 36.526 36.526 Crtdltoi's: Amounts fAllln& due wltliln one yeAr 15 10.51.1 4.436 Ntt turreni Rsxets 26,013 40,455 Net Ai8eti 59,042 75.254 FuD(ls oftlie chArl(y: Rcstrtelod incom¢ Resii'icted liinds 68,792 59,628 UnreJlri¢led income fundi Unrcslri¢l¢d funds {9,150 15,626 Tof#l fyiids 16 75,254 Th¢ fiiiaii¢ial slaiciiieiiis on pag¢s 9 10 21 were approved by the trustees, wid auihorised for issue on 2ZJ.OSI.2fi And 518ncd on Ihcir b¢half by.. A Flay Ch&ii'iiian The notes OD pages I I to 21 form iDtegral part of Ilwc fJDwicial siatenients. Pa8e 10 Ospreys Wheelchair Rugby Note¥ ¢0 the Finanetal Statements foi. the Year Ended 31 July 2025 1 Thgrity stalus The cliaiity is limilcd by 5hArc capitsl, 1￿cO(pOla1¢d in The addirss of ils r¢giskred office is.. 128 C.ltspel Road Clydach warngea SA6 SPE Iljorised for issue date 2 Accouiitlng pollcles Summaiy of ylghlllemnt i)tsllcle$ Mnd key a¢tou￿lI1l% ej11n￿t¢S The pi'incipal ac¢oiinting wlicies applied in the prep8r&150n of Ihe$e financijl $18t¢m¢nts aye 8¢t out b¢low. Thcsc yolicies have bccn consistently applied to all the yew3 Pl'¢S¢llted, unless oth¢Nise stated. Stfitement of compllAnte T11¢ fiiiarb¢ial stRLcn)cnls have becn pr#p81'cd in accurddnc¢ willi A£countiÉ)g und Reporting by Cliarities.. Stutement of Reconiiiiciided Prdctiee (applicAble io eliATilies prcpAYing tlieir Iccounis in lecordAi￿C witli Ilie Finaiicial He￿)rlIng Siandard applicable in Ilie UK and Republic of Ii'eland IFRS 10211 li55ued In Octobei. 20191 {C.hai'iti¢$ 8ORP IFRS 102}I, the Financial Reporting SIAndArd appli¢&bl¢ iti th¢ UK and Republi¢ of IrelAnd (FRS 1021 aiid Ilie CuiMp#nie5 Act 2006. Ha51s of pi'epArAiloll (hprey% Wh¢¢l¢liRir Rughy Iiic¢ls Ihc d¢finition of a public benefit enlity under FRS 102. Assels and liabiliii¢5 r¢ iiiitially reLogni%ed al liisloriLal cost or Irans8Ction valuc ujilcss Otlicrwi5c slatcd iji tlic rclcvant occouiitin8 policy Iio*s. GolnR concer Thc trustccs consider that thcir aic no material uncertainti¢4 ab(Trut ihc charity's ability to cnntinue a goin8 nc¢rn noi. any signifirAiil a￿4$ of uncertaitity Iliat affcct the c#rryirtg value of issets held by Ilie cljarity. Income and endowments All inconie is recognised once tlie cliai'ity hai enlitlenient to the income, it is proFtxble tliat the incoiiie will be reccive(E thr anwunt of tli¢ incon1¢ rcG¢ivobl¢ can b¢ meo$ur¢d reliably. DoiifiiloiiF legdcles t)onaliDi).s are recogniscd wliet) Ili¢ ¢harity has b¢en notified in ivrilinB of ￿¢h the umoui)1 gnd s¢ltl¢m¢nt date, In the ttvent tljat a doih%LlioiJ is siibject lo condilions ihal Irquire u l¢vcl ofperfomiaiiL¢ by ihe Charily before the charity is ¢i)titled to th¢ fiinds, the iiicome is dcfcrftd and not Ir¢ognÉsed until either those conditions are fully meL or ihe fuifilmeDt of tht)ye cond*tions is wliolly within the control of the charity and it is prob&ble Iljat ihese condiiions will bc fulfilled in the Izporting period. Pagell Ospreys Wheelchair Rugby Note5 to the Fiiiancial St#temellts for the Yegr Ended 31 July 202S pendlture All exptnditiire is ￿cOg[bised ortce there is a legal or conliruclive obligation to that ¢xp¢nditure. il is yiyjbable settlement is I'eouiiEd and the amoLllIt can be Jneisiired reliAbly. All costs Brc allocalcd to ihe applicuble expendiiure heading thai aggregate similar costs to that category. WheTe eosls earhnot be direcily attribiited to i?ailicular l)cudinBS Ilicy Iiave he¢n allocated hasis con51Stcnt willi Ihc 115e of resourccs, with ccnlrol staff costs allocated on lh¥ basis of time spent, and depi'ecialiun Lhargey alluca¢ed vn the portioii of th¢ ass¢t's use. l)ther 8upport cosls are allo¢aled ba%d Oil lh¢ Spread of staff cosL$. Ch4rllftble acllvllles Chariiable eYpendituK coniprises ihose cosls iiicuryed by the cliarity in the delivery of it$ activitie8 and 8eNiees for 1¢$ b¢Deficiarics. It includes botli costs ihat can bc allocutcd dirLcily 10 sucl) Activitics aiid 11105e costs of an indire¢i i)alure necessary io support Iliein. Sypport ¢oits Support wst5 iiicliid¢ ¢entr81 fiinc¢iony and hwve been allocNi¢d io activity cost ¢ol¢gorie5 on N basis consi.%teTh( with the use of resuU￿e$, fur exainple, allocaliThg pruperty wsts by floor areas. or p¢Y capila, st&ff costs by the time spcnt and other cosis by their usaRe. Governshce cosli Thcse include the costs alti'ibul&bl¢ to the chfii'ily's coiiiplianc¢ iviih ¢onslitutional and qlatutory requtrcmenls, iiicluding audit, Slrategic JttanaKeihent aiid Inisiees i))eeiinKs and reimbur%ed expcnses. TJxatl()11 I'he charity is cansidered lo pa$g the Icqis set out Ih PAra8raph I Schedule 6 of the Finance Acl 2010 and Iher¢loi'¢ it m¢¢15 111¢ d¢fiiittioii 01. 4 cliorilable eonipany for UK corporation la% purposes. A¢¢ordingly, Ihe charity is potentially exenipt froin laxalinn in respect of incoine or capitAI glins received wiihiii caleAories cov¢r¢d by Cliapt¢i 3 Part I l of Ihe Corporation Tax 2010 or Se¢iitsii 256 of tlic Taxhtion uf Cliarueable Gaiiis A¢1 1992, 10 lh¢ exieni that $i￿h income ur 84in$ Are Rppli¢d ¢x¢lusiv¢ly io ¢hirilabl¢ i)urpos¢s. Tfiiiglble nxeil asset¥ Individusl fjxed Assels costin8 £0.00 or niore are initiolly recorded at cost, less any yuhsequent 8ccumulat¢d deprc¢iation aiid subsequent aKumula¢¢d impwinien¢ 1035¢5. Depreciatlun #nd AmortlsAtI•ii T)epreciation is provided on tangible fixed assets w A$ to write off the cost or valuation. le55 any eytimaled residiiNI value, oycr thcir expcGtcd useful ¢conomiG lifc 08 follow5.' Trnde debtoi. 'I'rade debtors #re amounts due from eusiomers for merchandlse sold or seJvi¢es perfom)ed in tlit ordiThary course of business. Ti'ade debtors are re¢ognised initlAlly At Ilie Irgllsaclion pri¢¢. They are subsequenily measured at Amortised cosl using tlic elT¥Gtivc inl¢rcsi in¢ihod, l¢ss provision fof iinpfyiii)i¢nt. A provision fvi. th¢ iThpairmcnl vf trade debt0￿ is establlshed wlieh there is objeciive evidence that the charity will not be able to colleet all Amou￿1% due Accordin8 lo thc 0ri8iJial ￿rmS of the receivabl￿. P&8e 12 08preys Wheelchair Rugby Notes to the Financial Statement5 for the Year Ended 31 July 2025 Cash and eash equlvaltnts Ca511 and tash equivttlents comprise (￿h on hpnd ￿11 d¢pD$its, and othci. short-tcm highly liquid invesiTnenlS thai ait readily Convertible lo a known aiiiollni of cash and are subjecl ￿ an insi811ifLcaTIt iisk of ¢hon8¢ in valLEe. Tr*de ciedltnrs TrAde creditsjrs #re oblig￿LI0￿￿ lo pay for goods tsr serviLts il)al Isave be#D aLquiiYd iji Ilie urdijiary ¢tsurse of busitses% frnin suppliers. Account8 poyable are classified &$ cuiyenl liahiliiieg if the cliarity does fiot have an uncojiditional right. at Ilic end of tlie rcporting pcriod, ￿ dcfei. scltlcmcjil of tlic crcdilor foi. ut Icast twelve Inonihs after th¢ reporting date. If thei'¢ is an Iincondilional right to defer settlemenl lor at least twelv¢ Inonihs &ftcr Ihc J¢porting dat¢, Ihey PTCSCttted #s nnn-curirnt li4bililies. Trade creditors &re Jrcognised iThitl8lly at the transllction price 2nd xubsequeThtly m¢￿tsred at smortised cost using the ¢ffe¢¢iv¢ int¢irs¢ n)eiliod. Boi'i'owlMKs Intci'esl.hcaring bortDwin8s are initially recorded at fair vnlu¢, net of trai)IACtithn co$ls. Interesl-bearing borrowin8S Are subscqucjitly c&n'i¢d at amort15cd cost, wilh ihe diflcrence between Ilic proceeds, iict of traiisa¢lion wst5, and th¢ amount du¢ un redemplivn bttii?g r¢cogni5ed a¥ a chai3¢ lo the Siat¢m¢nl of Finafi¢iHI Aciiviti¢$ over the period of the ielevant horrowing, Inttresl cxpense ig reco8ni5cd on ilhe basis of the effective inter￿1 nieihod and 1$ in¢ludcd in intereat pAy&ble nd &iinhlw' Char￿C￿. Boi'yowings Are ¢lttssified as current liabilitl¢S Linlus th¢ charity hns An unconditional ii8hi to defer settlement of Ihe liability for il Itast twelve i￿onih$ after the reporiing dale, Forel%n exclian%e 1Taiisaclions iii forci8n currencies grc rccottled al the rale of cxcli8Thgc al the dalc of tl)e tr￿l¥aCtiOn. Monetary assets and liabilitics deiioininaled in forel8n currencies at Ilie b81onc¢ 5he¢¢ dale ar¢ reported at lh¢ raies of e%Ehang¥ prevailirtg #( Ih&l date. The re.¢ultg ()f ftveJ'%e&% nperalinN$ aiE trArtslated al the 8veraRt rates of exchange dthi'ing Ihe period and th¢ir balaii¢¢ sh¢¢ls at th¢ rnl¢s rilling at the bulance sheet dale. ExcliaLi%e difyerences ai'i8iny on translalion of tl opening net aSs￿S and resulis lif ovrrsea$ 01)eiation5 are repi)rned in oiher comprehensive in¢ome and accumulated in equity {attributcd lo rton.conliolling inlercsis os appiy)priatc). her exchange differences Are recogni5ed iii the Stakmenl of Financial A¢livilies in th¢ period in whi¢li they srisc cxcepl for.. 11 exchatJ8c diffejinces on trwisBclioDs cnlcred 5nto to l￿d8C certain forei811 CUL'reiicy TÉsks {sec above). 2) cxchungc difftrcnces arising on gains or losses on non-monetary items which are re¢ognised in other coniprcheiisive ineottie,. and J) in the ￿se of the cons01idatcd finanoittl ￿t￿¢nIC￿lS, exchange diffcrenccs ots monclary ilcms reeeivable fN)iii or payable io a foreign operation for wliich sertlemertl is neitlier planned nor Iskely to occur (therefore fomiing pDrt of Ihc nct invc5tJncnt in ihE fviei811 opetationj, wliich aic recognised in othEr comprehen5iv¢ inwm¢ aiid r¢porlEd undei. equity. Pag¢ 13 Ospreys Wheelehalr Rugby Notes to the Financial Staternenty for the Year Ended 31 July 2025 Fund structure Unresiricied income fiinds are general ￿ndS that are available foi. use at the iNstees disci'etion in furtherance of the objectives of the charity. Resiricied irtconie futtds Ire those donated for use in a particular 8r¢a oi for specific putposes, Ihe of which is reslrlct¢d to ihal aru or purpose. Flnancial Inslrumentg C1fj5.rlfjcrtllo Financial assets and financial liabilities are recogiii$ed iyhen the Charity becomes a patty to the coniraewal provisions of tlJe inslrumenl. Financial liabilities and equity instruinenll I￿ ¢1ossifJed accordin8 to the sub51aTrce of tlie ¢ontraciual anang¢m¢iils ¢nl¢i'¢d iiilo. Ali cquity instruinenl rs any con¢ra¢l Ihat ¢vid¥nccs a r¢sidual inter¢$t in ¢h¢ a$s¢t$ of the Lliariiy ufter dedii¢titsx all of its liabililies. Reco¥iillloii oiidttiellsiireiiieiil All fin&nci#l assets #ijd liabilities al'e initially measuird At IiinsttLliun price {iiicludin& irArhsbclion L'osis), except for tho%e financiRI &1setg ela84ifitd as at hii. v&liie Ihroiigh pmfit or losq. which are initially meA%iiIEd ai fair value {wliich is i1orin&lly tlie transacliori pricc excluding transhLlion costs), unless Ihc arr&Jigeinent COi131itutcs rinaiicinB lrnDsa¥lion. Ir an w'ran¥ement Lonstitutes y fiiiancinu (ransaclion, the fiiianoidl ays¢l or fJn4n¢ial lial?ility is measuT¢d Bt thc prcseiit vAlue of the fiitur¢ PAyineiil$ dis¢ounied at a mArket rile nf iiiteresi for E simil&r debt insirunient. rin&ncial assets and liabilities Rrc only otTsct ili the slalcjiicnl of finaiicial poBitioii wlicn, and only wlien Iliere exists a IL￿llY eiiforceable right 10 set oft. Ili¢ r¢wgnis¢d amounts and the charity inicnds either to settle on a net bosis, oi'10 r¢Alist Ihe Assei and settl¢ the liabiliiy 8imiiltaneousfy. FinonciBI llssets are dereco8nL8ed when ond oiily when a) Ihc contractual ri8lits lo the cash froim the rit)anciul asset ¢xpir¢ or s¢ltled, bl the Lliarity tra115fers t(1 aiiuiher pai'Ly yubsL311tially all uf ili¢ risks #nd rewards of Liwnetship of the finaiicial ass¢t, oi. cl Ilw ¢li&rity. despite IIAving retained si)ii)e, bui not all, siynificlnt risks and rewards of ownei'sliiy, lias trdnsferred coiilrol of tile asset to Ai)other parly. Financial liabiliiies air d¢w¢ognl￿d only when the obliuation ¥p¢cified in lh¢ conti'4¢¢ is dis¢hftrg¢d, ¢r¢n¢¢ll¢d or expiir$. Page 14 Ospreys Wheelehair Rugby Notes to the Finaneial Statements for the Year Ended 31 July 2025 Debliiislriiiiients Debt i￿truMe￿IS which mee¢ th¢ followin8 ¢ondiiions ar¢ %ubs¢qy¢ntly m¢&8ur¢d it 4morlised cosi vsing ihe effeetive interest niethod.. (A) The contractual return io the liolder is {il a fixed aiiiount,. lill a positive fixed raie or a positive vari&ble rn*,' or liii) a conibination of a positivc or a negaiive fjxed and a positivc varillblc rait. Ib) The cO￿traC1 Inay provide for rcpayincnls of the PTinGipal or tlie rciurn lo the lioldcr (but both) to bc linked to a single rel¢v8nl Obse￿able index of general price inflation of the curreiicy in which the debt IIISli'Ui￿e￿t is d¢liomin￿1id, provided SULh linky &re not leveruged. {c) The contr&et iknay pn)vide for A deterniinable VaViAtion of ihe reluin la the Iiolder during ihe life of the inslrwi)cnt, provid¢d tlial li) ¢li¥ ncw ralc satisfies coiiditioii {a) und ihc vaTiILtioii is nol Conting￿1[ on future events other tl)an I l} a change ora cnntractu&l variable I'&lc: 121 to prnlecl tlic liolder against ci'cdit dcteriorotiE>n of Ihc isbuei" (3) bhun&cy in Icvics applied by N ceiiii'al bwik oi, &tisiiig fi'oii) ehaiiges in relcvant t&XAtion or law., or Ill) the n¢w rale is a markd rni¢ ot inier¢sl and SAllSti¢s ¢ondiiioii1o1. (d) Theit is Lon¢i?Llual pwvi$iiin that wuld. by 115 Icmis. rcsult in th¢ holdcr losing th¢ Principal Hinount oi. any inleJ'e%l attribut&ble Lo dje cuiyenl period or prior periods. le) C.onlracttiol provisions that perniil tli¢ i85uer to prephy a deht in$li'uiiient or peniiit Ilie hnldei. t() piit il back t the i.48u¢I' l)rf()r¢ I￿0(U1.1ty orc iiot ¢oiiting¢iil oil fuluii events. oilier ihan lo protect the holder against the cirdil detei'i(TriMli()n nf Ihe i8%uer or a chRnge in conlrol oftlK issuei., or lo prolecl the holder or issiiei. RBaiDSt ch&nges in l¢vies llpplicd by a ¢¢iilT&I bgjik or arising frum in iYl¢v&i)I luxaliott ur law. (O Coi)Irllctual provision5 Inay prrmil the ¢Ki¢ii$ion of lh¢ l¢mi of lh¢ d¢bi iiiilniin¢nt, provid¢d Ihol Ili¢ r¢lum ihe h()l¢JeK and #ny otlicr coniratftial provisions applic&bl¢ diiriiig the cxi¢iided icrm sthtisfy Ilie Lundiiiony or para8raplis IDI to {cl. Debt inslrumei)Is that are clas.%ilied As payable or rtteivable williln on¢ year on initi81 recognition and which Ineet the above coiiditioiis ttre Jrtcasll￿d at the undiKount¢d amount of Ilw ¢#$h or other ¢on¥idtr4tion expe¢l¢d to b¢ paid or ￿¢1v¢d, 11¢¢ of impoirmcnl. Witli the exception of soiiie hedging instryni¢iits, o¢h¢r d¢bi iTh51nJm¢nts nol ni¢ellng these eondilions ar¢ mea%ured ai fair value thI￿￿￿h pi'otit or loss. Conimitinents to niake and rec¢iv¢ 10oDS ivliicli meet tlie conditions nieniioned aiYJve Are ihedsuird #t cost (wliich niay bE nil) less impairm¢nt. Investments in non4oiivertible prefer¢n¢¢ $1121r$ and non•piilt&ble ordinary or preference 8liares {where sli&re5 are i)uhlicly lj'aded or tlieir fair value is ielidbly M¢￿urable) are n)eagured ￿ fair value Ilirougli profit or loss. Whe1* fair VAliie connot b¢ m¢osiired reliably. investments are imellsiired at C051 less inipllinhent. Ihvcstsnents in subsidiaries and associates ar¢ me&%ur¢d ¥t coit l¢ss iJnpairin¢nt. bor illV¢Slin¢nts ill subsidiaries acqusrcd foi. c0115idcration includitrg th¢ issu¢ of shar¢s qualifying for ni¢ig¢r r¢li¢f, cost is i)1¢8suird by I'eferen¢e to ilie iioniinal value of ihe Sh￿¢S issued plus fair value of other consid¢rdtion. Any piemiui)i is i8tt01'cd. Page 15 Ospreys Wheelehalr Rugby Notes to the Financial Statements for the Year Ended 31 July 2025 perf￿lIVe￿il￿ne1a1lIlslrI1Trlelltt The Cli￿lty u$es deriv41iV¢ finw¢ial instruments to reducc expD5urc to forcigry exchangc risk and inicrcsl ralc I￿0veMe￿is. The charity does rtot hold or issue derivative financial instruments for speculative purposes. DerivaÉive5 are Initially reco￿1]Sed at fair valuc at the date a d¢riva¢ive Contract is enlered into and are subsequently reme&%ured io th¢ir fftir value at each ieporting dale. 11)e resuliing ni. 1% recognised in Xlatciiieiii of fLnaiiLial aclivilies iinmediately urtless the dci'ivative is dcsignltled and effective a5 3 hLd&*in8 instruiJi¢nt, in wlii¢h ¢v¢nl ih¢ timing of the recognition iii stst¢in¢nt of financial ￿tiVitIeS depends on ihe nature of th¢ h¢dg¢ relationship. Fdir vuliie iiieasureThieiil The besi evideiice of fail. valiie is a quoled price for an ideiilical hss¢l iii an a¢live market. When qLioled pi'ices arc unuyailablt, Ihc priLe ora rcccnt transaciioii for an ideiiuLal asscl pr(Trvidcs ¥vid¢nc¢ uf fair value as lunb¥ a5 there lias not beert a .siBnifJcant changc iii ecoiiomic eircuiJistaiice% or a si8nifJcani lapse of time since the IransaLliun luok pluLtt. If the Jiiarkel is nut llLtivc and reLciit iruns￿LI*0lI¥ of Jn idclllicMI ￿$¢1 on Ili¢ii own Ar¢ n¢)1 a gcjod cstiinale of fair value, tlie fjir value 15 esliii)al¢d by u%iiig a valualion technique. 3 In¢n￿¢ fi'om donAtlon.y wnd leg#tleJ Unrestrieted funds (Jener*l Resti'lcte(I rund TotBI funds Donatinns and legacies; Dtrnalions frotbl iiidividvols 37,650 43,326 80.970 Tot#1 for 21125 37.650 80.976 TolAI for 2024 60,630 15,650 7CJ,300 4 Inttsnit from other tr*dlng Aettvltlel Uni'e8trir.ted fuiids G¢nerAI Tolal funds MeynlKrghip gubscriptions 3,643 Totil foi. 2025 3.643 3,643 Totil lor 2024 Page 16 Ospreys Wheelchair Rugby Notes to the Financial Statemellts foi. the Year Ended 31 July 21125 5 Expetbdllure on rAlsliig funds 6 Exptndlture on thai'itable RCtivitTtS Unr¢strlcled Restrlcled funds Totgl funds GeneYAI Sports clothlng, rugby balls Oul%ourced fuii,812 97.819 59.642 2025 75.254 Rtsli,Icied funds Tot•1 Income And F.ndowmentJ from.. DDnali()n.% and Ic¥acies {aiialy5td below) Other trading acilvliie518nalysed b¢lowl TotAI income 43,326 80,976 3.643 84.619 Expenditure oil: C.harilahle aclsviiies laiialysed below) oih¢i' cxpctid1￿TC lyiialyscd bclowl Tot&1 expertditure 11 S,9821 (83,609) 18,180 101,789 Net iiicoitie/(¢xp¢ndilurel 17,170 Net movement in fiinds 9,164 117,170) ReconcilifitlDn of funds Totul funds biDught fotvard Toial funds cari'ied fonvard 59,628 68.792 This po8e does not forni part of th¢ statutory fIn￿CIal 5tatenients. Pag¢ 22 08preys Wheelchair Rugby Detailed Statement of Flnanclal Actlvltfies for the Year nded 31 July 2025 2025 Resti'lrte fun(L8 TotAI Doiio1i011s 4iidleEoci¢s Donaiions wid graiits- uiircslri¢led Donaiiolis &fhd graiits- restriclcd 37.650 43,326 43,326 110,976 2025 ToiAI oiher Irudliig acilvliies Siibsci'iplions 3,043 J,643 Unr¢s¢i'lcl¢d rund• Rtslricted fvnils Tot•1 Churllllble acilvliles Dileci cosls HI￿ ofsporls fA¢iIiii¢¥ ()utsourced flindrhising fces C.unipuler softwar¢ and nlain1¢Than￿ cost$ Outsourced adinin w1￿ClchAil. repairs aiid maiiitcnwiic¢ 'rravel and 511bsisten¢¢ Admiiiistralion costs GBWEi entry and niembership f¢e$ Cluh eveihl costs (Profi¢ylo%s on sale of18n8ibl¢ fixed assets held for hority's owti u5¢ St8ff ti'ainin8 Baiik charges (3,412) 111,036) {15.9(11) 1316) {12.036) (4,8871 (3,6751 {8,2991 1316) 112,036) (7,4201 {19,292) {1,0921 (6,125) {600) {7,420) {19.292) (1,092) {6,1251 1600) 1.548 {144) 1.548 (1441 15,982 180,457 2025 To¢AI Goveniuiice eosls Aecounimncy fecs This pag¢ does Not form p￿t￿r the sta￿lI0ry fiiiantial slaten)ei)Is. Pa8e 23 Ospreys Wheelchair Rugby Detailed Statement of Financial Activltid for the Year Ended 31 July 2025 Z025 Rtslricled runds Total Olliep typeiidllure DeP1￿11110n of sports eqiiipinent 18,1801 118,180) 18,180 This pa8e does not fomi part of ihe stalutory finan¢ial statements. PAg¢ 24