## **BOUNDARY PARK SPORTS ASSOCIATION**
# **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
Charity Numbers: 1167578 (England and Wales)
**BOUNDARY PARK SPORTS ASSOCIATION**
## **UNAUDITED FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
|**CONTENTS**|**PAGE**|
|---|---|
|General information|2|
|Trustees’ Annual Report|3-4|
|Responsibilities of the Trustees|5|
|Independent Examiner’s report to the members|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the financial statements|9-16|
1
## **BOUNDARY PARK SPORTS ASSOCIATION**
## **GENERAL INFORMATION**
Registered charity name Boundary Park Sports Association Charity number 1167578 Principal & registered office address Greenwood Way Didcot OX11 6EY Trustees Andrew Rolfe Andrew Couldrick Mark Bodeker (resigned February 2024) Jane Moreton Anthony Atkin David Pryor Nicholas Clarke Paul Costello Nicola Gregory (resigned November 2023) Nicholas Couldrick Nichola Poulton Karen Baker Lee Marsden David Lewis Scott Clifford (appointed November 2023)
Accountants SPX Oxford Ltd Peace House 19 Paradise Street Oxford OX1 1LD Independent examiner Sheila Parry Bankers HSBC
2
## **BOUNDARY PARK SPORTS ASSOCIATION**
## **TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024**
The Board of Trustees present their report and the unaudited financial statements of the Charity for the year ended 31 March 2024.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Reference and administrative details are shown in the schedule of general information on page 2 of the financial statements.
## **THE TRUSTEES**
The trustees who served the charity during the year are shown on Page 2.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The charity is controlled by its governing document, a foundation constitution, and is a Charitable Incorporated Organisation.
## **FINANCIAL REVIEW**
The financial position of the charity is secure. It performed in line with budget for 2023/24 and continues to receive support from the S106 commuted sum which is forecast to last for at least the next five years.
The pitches continue to be used to capacity by the member clubs and interest in the tennis courts/MUGA remains high. The trading subsidiary is delivering as expected and the board of trustees are happy with the performance of the directors.
The charity is able to meet its anticipated commitments.
The Trustees have no concerns about the organisation’s ability to continue as a going concern
## **PUBLIC BENEFIT STATEMENT**
As set out in the objects below, the charity exists to provide facilities for sport at Boundary Park. In addition to the formal sport provided by the associated clubs, members of the public are free to use the park for informal recreation.
Boundary Park has become an outdoor hub for the community with residents using the park as a place to meet as well as to take advantage of the park for physical exercise.
## **OBJECTIVES AND ACTIVITIES**
The objects of Boundary Park Sports Association (BPSA) are:
- to promote, sustain and increase, for the benefit of the public, the physical education of young people
- to advance, for the benefit of the public, amateur sport for all ages through any sports or games which promote health by involving physical or mental skill or exertion and which are undertaken on an amateur basis.
3
## **BOUNDARY PARK SPORTS ASSOCIATION**
BPSA aims, though the management of Boundary Park, to support the provision of a variety of facilities for sport, leisure, and recreation to enable local people to enjoy sporting activities and to be able to compete if they wish.
BPSA wholly owns Boundary Park (GWP) Limited, a trading subsidiary which holds the lease for the Bar & Social Area part of the pavilion. The directors of this trading company are appointed by the Trustees, but the company is run independently to BPSA. Any distributable profits made by the trading subsidiary are gifted to BPSA and used to improve the sporting facilities provided.
During the year the sports provided by the associated clubs are rugby, football, cricket, cycling, running tennis and netball.
## **ACHIEVEMENTS AND PERFORMANCE**
In 2023/24 Boundary Park Sports Association continued to meet its charitable objectives, deliver on its financial projections, and remain a key part of the community on Great Western Park and in the wider Didcot area & surrounding villages.
Not only through its sporting credentials, but also through the community and charity events it hosts in the park and pavilion. It was never designed to be purely a sports club, but to foster a sense of community amongst the residents and act as a focal point.
The trustees are very happy that in this regard the sports association has met its objectives and are pleased with its performance, both from a participation level and also financial performance.
4
**BOUNDARY PARK SPORTS ASSOCIATION**
## **RESPONSIBILITIES OF THE TRUSTEES**
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
Charity Law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the income and expenditure of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **INDEPENDENT EXAMINATION**
The nominated independent examiner will be considered by trustees for re-appointment for the ensuing year.
Signed on behalf of the trustees
Date 10[th] October 2024
5
**BOUNDARY PARK SPORTS ASSOCIATION**
## **INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF BOUNDARY PARK SPORTS ASSOCIATION**
## **FOR THE YEAR ENDED 31 MARCH 2024**
I report on the accounts of the Charity for the year ended 31 March 2024, which are set out in pages 7-15
## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER**
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **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 company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and the seeking of 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 expressed 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**
I have completed my examination. I confirm that no material matters have come to my attention which gives I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
……………………………………………… Sheila Parry SPX Oxford Ltd 19 Paradise Street Oxford OX1 1LD
Date …………24 October 2024………………
6
## **BOUNDARY PARK SPORTS ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**2024**|**Funds**|**Funds**|**2023**|
|||**£**|**£**|**£**|**£**|**£**|**£**|
||**Notes**|||||||
|**Income from:**||||||||
|Donations|3|31,120|-|31,120|70,272|-|70,272|
|Charitable activities|4|149,946|30,972|180,918|127,696|26,785|154,481|
|**Total income**||181,066|30,972|212,038|197,968|26,785|224,753|
|**Expenditure on:**||||||||
|Charitable activities|5|220,521|7,632|228,153|184,610|8,015|192,625|
|**Total expenditure**||220,521|7,632|228,153|184,610|8,015|192,625|
|**Net income / -**
**expenditure**||- 39,455|23,340|- 16,115|13,358|18,770|32,128|
|**Transfers between**
**funds**||42,369|- 42,369|-|45,749|- 45,749|-|
|**Net movement in**
**funds**||2,914|- 19,029|- 16,115|59,108|- 26,979|32,128|
|**Reconciliation**||||||||
|**of funds:**||||||||
|Total funds brought
forwards||254,595|19,029|273,624|195,487|46,008|241,495|
|**Total funds carried**
**forward**||257,509|-|257,509|254,595|19,029|273,623|
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 9 to 16 form part of these financial statements.
7
**BOUNDARY PARK SPORTS ASSOCIATION**
## **BALANCE SHEET AS AT 31 MARCH 2024**
|**Notes**
**FIXED ASSETS**
Investments
8
Tangible Assets
9
**CURRENT ASSETS**
Debtors
10
Cash at bank
**CREDITORS:**Amounts falling due within
one year
11
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS**
**INCOME FUNDS**
Unrestricted Income funds
12
Restricted Income funds
13
**TOTAL INCOME FUNDS**|**2024**
**£**
**£**
1
68,043
70,974
123,398
194,373
4,907
189,465
257,509
257,509
-
257,509|**2023**
**£**
**£**
1
82,290
112,766
97,493
210,259
18,927
191,332
273,623
254,594
19,029
273,623|**2023**
**£**
**£**
1
82,290
112,766
97,493
210,259
18,927
191,332
273,623
254,594
19,029
273,623|
|---|---|---|---|
||||273,623|
||||254,594
19,029|
||||273,623|
For the year ended 31 March 2024 the charity was entitled to exemption from audit under section 145 of the Charities Act 2011.
Trustees responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 145; and
- The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements were approved by the members of the committee and authorised for issue on 10[th] October 2024. and are signed on their behalf by:
Paul Costello Trustee
8
**BOUNDARY PARK SPORTS ASSOCIATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. ORGANISATION STATUS**
Boundary Park Sports Association is a Charitable Incorporated Organisation.
## **2. ACCOUNTING POLICIES**
## **Basis of accounting**
The charity constitutes a public benefit entity as defined by FRS102.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
## **Income**
All income is included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. 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.
## **Fixed assets**
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised.
## **Depreciation**
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Indoor equipment and CCTV – 25% straight line Computer and AV equipment – 25% straight line Plant and machinery – 25% straight line
## **Expenditure**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure represents amounts invoiced, including value added tax.
9
**BOUNDARY PARK SPORTS ASSOCIATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued)**
## **Taxation**
The Charity is exempt from corporation tax on its charitable activities.
## **3. DONATIONS AND LEGACIES**
||||**Total**|||**Total**|
|---|---|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Funds**|**Unrestricted**|**Restricted**|**Funds**|
||||**2024**|||**2022**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|From BPSA GWP
Ltd|31,020|-|31,020|70,272|-|70,272|
|Other donations|100||100|-|-|-|
|Donations|31,120|-|31,120|70,272|-|70,272|
## **4. INCOME FROM CHARITABLE ACTIVITIES**
|Grants
Club Levies
Other income
Pitch hire income
Tennis Court
Income
Turnover rent from
GWP|**Unrestricted**
**£**
62,200
42,172
8,201
7,654
1,530
28,189
149,946|**Restricted**
**£**
11,825
4,036
-
3,058
12,053
-
30,972|**Total**
**Funds**
**2024**
**£**
74,025
46,208
8,201
10,712
13,583
28,189
180,918|**Unrestricted**
**£**
52,500
36,546
3,063
7,197
2,434
25,957
127,697|**Restricted**
**£**
10,754
3,689
-
1,062
11,280
-
26,785|**Total**
**Funds**
**2022**
**£**
63,254
40,235
3,063
8,259
13,714
25,957|
|---|---|---|---|---|---|---|
|||||||154,482|
In 2024, £52.5k was received in respect of Developer Contributions via South Oxfordshire District Council. A grant of £6k was also received to specifically maintain the tennis courts and Multi Use Games Area.
10
**BOUNDARY PARK SPORTS ASSOCIATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued)**
## **5. EXPENDITURE ON CHARITABLE ACTIVITIES**
|Bank Charges
Grounds equipment
Grounds maintenance
contracts
Tennis Courts / MUGA
expense
Indoor equipment and
furniture
Salaries
Employer's National
Insurance
Pension costs
Cleaning costs
Depreciation
Donations to local
sports clubs
Light, Power, Heating
Machinery running
costs
Other running costs
Outdoor equipment
and furniture
Rates and utilities
Repairs and
maintenance
Insurance
Security costs
Website
Previous year VAT
adjustment
Governance costs|**Unrestricted**
**£**
608
13,894
16,920
241
311
67,831
- 962
979
2,395
47,843
5,032
22,764
2,127
13,010
123
2,945
16,822
4,829
67
668
-
2,074
220,521|**Restricted**
**£**
-
-
-
1,145
-
4,064
-
-
-
-
-
-
-
604
-
-
1,819
-
-
-
-
-
7,632|**Total**
**Funds**
**2024**
**£**
608
13,894
16,920
1,386
311
71,895
- 962
979
2,395
47,843
5,032
22,764
2,127
13,614
123
2,945
18,641
4,829
67
668
-
2,074
228,153|**Unrestricted**
**£**
287
15,464
19,021
-
148
55,205
962
1,200
1,765
46,230
3,500
14,815
1,706
9,694
8,353
4,213
12,947
5,504
38
248
- 18,924
2,234
184,610|**Restricted**
**£**
246
-
-
3,026
-
4,295
-
-
-
-
-
-
-
-
448
-
-
-
-
-
-
-
8,015|**Total**
**Funds**
**2022**
**£**
533
15,464
19,021
3,026
148
59,500
962
1,200
1,765
46,230
3,500
14,815
1,706
9,694
8,801
4,213
12,947
5,504
38
248
- 18,924
2,234|
|---|---|---|---|---|---|---|
|||||||192,625|
11
**BOUNDARY PARK SPORTS ASSOCIATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued)**
## **6. GOVERNANCE COSTS**
|Accountancy
costs
Independent
Examination fee|**Unrestricted**
**£**
1,674
400
2,074|**Restricted**
**£**
-
-
-|**Total**
**Funds**
**2024**
**£**
1,674
400
2,074|**Unrestricted**
**£**
2,209
25
2,234|**Restricted**
**£**
-
-
-|**Total**
**Funds**
**2022**
**£**
1,646
393|
|---|---|---|---|---|---|---|
|||||||2,039|
## **7. STAFF COSTS**
|**. STAFF COSTS**|||
|---|---|---|
|Wages
Social security costs
Pension contributions|**2024**
**£**
71,895
- 962
979
71,912|**2023**
**£**
59,500
962
1,200|
|||61,662|
The average number of employees during the year was 5 (2023: 4) No employee received benefits exceeding £60,000
## **8. INVESTMENTS**
Boundary Park Sports Association owns a £1 share in its trading subsidiary Boundary Park GWP Ltd.
12
**BOUNDARY PARK SPORTS ASSOCIATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued)**
## **9. TANGIBLE FIXED ASSETS**
||**Computer**
**and AV**
**equipment**|**Equipment,**
**Marquees,**
**and CCTV**|**Plant and**
**machinery**|**Leasehold**
**improvements**|**Total**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|COST||||||
|At 1st April 2023|5,595|48,619|67,668|203,060|324,942|
|Additions|-|8,146|11,384|14,066|33,596|
|At 31 March 2024|5,595|56,765|79,052|217,126|358,538|
|DEPRECIATION||||||
|At 1st April 2023|5,595|43,428|58,853|134,776|242,652|
|Charge for the year|-|4,956|8,321|34,566|47,843|
|At 31 March 2024|5,595|48,384|67,174|169,342|290,495|
|NET BOOK VALUE|||||-|
|At 31 March 2024|-|8,381|11,878|47,784|68,043|
|At 31 March 2023|-|5,191|8,815|68,284|82,290|
## **10. DEBTORS**
|**0. DEBTORS**|||
|---|---|---|
|Amounts due from GWP Ltd
Other debtors and accrued income
Prepayments
VAT receivable|**2024**
**£**
59,209
2,799
5,870
3,096
70,974|**2023**
**£**
97,188
2,165
5,374
8,039|
|||112,766|
13
**BOUNDARY PARK SPORTS ASSOCIATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued)**
## **11. CREDITORS**
|**1. CREDITORS**|||
|---|---|---|
|Trade creditors
Payments to pension provider
Taxation and social security
Income received in advance
Accruals|**2024**
**£**
696
195
- 122
-
4,138
4,907|**2023**
**£**
13,666
180
546
3,925
610|
|||18,927|
## **12. UNRESTRICTED INCOME FUNDS**
|General funds
Designated funds:
Depreciation fund *
Pitch fund
Pavilion decoration and repair
fund
Tennis Courts and MUGA
maintenance|**Balance**
**at 31 Mar**
**2023**
**£**
142,100
82,290
21,000
9,205
-
254,595|**Income**
**£**
181,066
-
-
-
-
181,066|**Expenditure**
**£**
- 220,521
-
-
-
-
- 220,521|
**Transfers**
**relating to**
**capital**
**expenditure**
**£**
-
11,825
-
-
-
11,825|**Transfers**
**to / from**
**restricted**
**funds**
32,464
- 26,072
-
-
24,152
24,152|**Balance**
**at**
**31 Mar**
**2024**
**£**
135,108
68,043
21,000
9,205
24,152|
|---|---|---|---|---|---|---|
|||||||257,508|
*The depreciation fund was created in as a designated fund for future depreciation of capitalised spend. An additional £11,825 was transferred into this fund for this year’s capital expenditure from restricted funds. A transfer of £26,072 represents the balance needed to keep the balance in this fund the same as the future depreciation of assets (see note 9).
14
**BOUNDARY PARK SPORTS ASSOCIATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued)**
## **13. RESTRICTED INCOME FUNDS**
|Restricted grants:
Floodlights
Crickets Nets
Additional Floodlights
Tennis Courts and MUGA
maintenance
Vale of White Horse District
Council - changing room
refurbishment
**Total funds**|**Balance at**
**31 March**
**2023**
**£**
2,873
3,428
91
12,637
-
19,029|**Income**
**£**
-
-
-
19,147
11,825
30,972|**Expenditure**
**£**
-
-
-
- 7,632
-
- 7,632|
**Transfers**
**relating to**
**capital**
**expenditure**
**£**
-
-
-
-
- 11,825
- 11,825|**Transfers**
**to / from**
**designated**
**or general**
**funds**
- 2,873
- 3,428
- 91
- 24,152
-
- 30,544|**Balance**
**as at 31**
**March**
**2024**
**£**
-
-
-
-
-|
|---|---|---|---|---|---|---|
|||||||-|
The trustees have reviewed the Tennis Courts and MUGA maintenance fund and consider that this should be treated as a designated fund rather than a restricted fund. As a result the balance has been transferred to designated funds.
The work on the other restricted funds: Floodlights, Cricket nets and Additional Floodlights, has also been completed with no requirement to repay unspent balances. The balances on these funds have been transferred to general funds.
## **14. ANALYSIS OF FUNDS BY ASSET TYPE**
|Fixed assets
Net current
assets/liabilities|**Unrestricted**
**£**
68,043
189,466
257,508|**Restricted**
**£**
-
-
-|**Total**
**Funds**
**2024**
**£**
68,043
189,466
257,509|**Unrestricted**
**£**
70,166
125,320
195,486|**Restricted**
**£**
-
46,008
46,008|**Total**
**Funds**
**2023**
**£**
70,166
171,328|
|---|---|---|---|---|---|---|
|||||||241,494|
15
**BOUNDARY PARK SPORTS ASSOCIATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued)**
## **15. TRUSTEE REMUNERATION, KEY MANAGEMENT PERSONNEL & RELATED PARTY TRANSACTIONS**
No member of the board of trustees received any remuneration or were reimbursed for any expenses during the reporting period.
The key management personnel are the voluntary trustees so there was no expenditure on key management personnel during the reporting period.
The following related party transactions occurred during the reporting period:
|**Related party**|**Nature of**
**relationship**|**Nature of transaction**|**Amount**|
|---|---|---|---|
|Boundary Park (GWP) Ltd|Trading subsidiary|Payment to GWP for salary recharges|£22,595|
|Boundary Park (GWP) Ltd|Trading subsidiary|Payment to GWP for joint costs paid by GWP
Ltd|£3,828|
|Boundary Park (GWP) Ltd|Trading subsidiary|Paid to GWP for room hire|£6,000|
|Boundary Park (GWP) Ltd|Trading subsidiary|Amount due from GWP for rent|£28,189|
|Boundary Park (GWP) Ltd|Trading subsidiary|Donation from GWP Ltd to parent charity|£31,020|
16