OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

REGISTERED CHARITY NUMBER: 1171574

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FOR THE WALLINGFORD SPORTS TRUST

Page
Report of the Trustees 1 to 4
Report of the Independent Examiner 5
Statement of Financial Activities 6
Balance Sheet 7
Statement of Cash Flows 8
Notes to the Financial Statements 9 to 13

THE WALLINGFORD SPORTS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities Act 2011 and 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 (FRS102).

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1171574

Principal address

Wallingford Sports Park Hithercroft Road Wallingford Oxfordshire OX10 9RB

Trustees

Nominated

Elected

Ms S Leigh Mr R Haycock Ms B Guiver Mrs L Tamlyn Mr A Aldred Mr C Norrington Mr P Abery (Appointed 3[rd] November 2021) Mr L Jones (Resigned 14[th] September 2021) Mr A Beasley (Appointed 14[th] September 2021) Mr A Pointer (Resigned 3[rd] November 2021)

Mr J Pebworth Mr J Atkins Mr N Hughes Mrs N House Mr D Williams (Resigned 19[th] July 2022) Mr S Mount Ms S Abrey (Appointed 4[th] April 2022)

Independent Examiner

Heather Merryweather ACA

Bank

Barclays Bank plc

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a Charitable Incorporated Organisation (CIO) controlled by its constitution dated 10 February 2017.

1

THE WALLINGFORD SPORTS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Management

The Trust is managed by the Board of Trustees consisting of representatives from each of the associated clubs (“Nominated Trustee”) plus a minority of elected trustees (“Elected Trustees”) drawn from the wider community. The number of Nominated Trustees must be greater than Elected Trustees at all times. This structure ensures that the priority is to facilitate club activities, but this is balanced by using the facilities for other local community activities. The Board of Trustees met virtually 4 times during the year to 31 March 2022.

The Trustees identified and reviewed all major risks using a formal risk register to ensure all reasonable steps are taken to mitigate the risks identified.

OBJECTIVES AND ACTIVITIES

The objectives of The Wallingford Sports Trust are to enable the sports clubs, who are its component members, to provide sporting and recreation facilities for the inhabitants of the Wallingford and South Oxfordshire area and to encourage the use of the facilities provided by all age groups.

The Trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing The Wallingford Sports Trust’s aims, object ives and achievements and in planning future activities.

During the year the sports provided by the associated clubs are Rugby, Petanque, Football, Tennis, Squash, Skittles, Hockey and Archery. Of the 1800 playing members of the clubs, over half are juniors.

The facilities are also used for local community activities such as local groups, clubs and schools hiring the All Weather Pitch (“ AWP ”) and indoor hall. The sports park also normally hosts Bunkfest camping and the Wallingford Car Rally.

The Trust also owns and manages Wallingford Sports and Social Club Ltd (‘WSSC’) through a committee selected by and reporting to the Trustees. Any distributable profits made by WSSC are paid to the Wallingford Sports Trust under the gift aid scheme and are used to improve the sporting facilities provided.

ACHIEVEMENT AND PERFORMANCE

Following the survival of the Sports Trust and the eight constituent clubs, with the help of government grants, through the 20/21 year, the expectation and hope was of a return to normal levels of activity during 21/22. In reality, although all the outside sports operated reasonably unaffected, indoor activities were severely limited by national restrictions and, throughout the year, by a hesitancy to return to pre-Covid patterns of bookings. The result was that revenues were severely affected and, with government grants much more limited than the previous year, breakeven was just about attained.

The Sports Park’s operations were also impacted by the retirement of the two key members of staff and by the difficulties, in both cases, of finding suitable replacements, something that was not achieved until well into the New Year.

Planning, nonetheless, took place in raising the financing for refurbishing the main pavilion to make it a more attractive venue for sporting, community and social activities with a view to carrying out

2

THE WALLINGFORD SPORTS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

work during the summer of 2022, as well as in building a strong relationship with a local school which will guarantee some vital levels of income that will support the ongoing development of the Sports Park.

FINANCIAL REVIEW

The value of the Tru st’s funds increased by £ 850 during the year to 31 March 2022 as set out in note 13 of the accounts.

The Trust’s aim is to maintain a level of unrestricted reserves equating to at least 3 months of expenditure. The Trustees consider that this level wi ll provide sufficient funds to meet the Trust’s operational expenditure and to provide contingency against unforeseen expenditure. The balance held as unrestricted funds on 31 March was £369,588 of which £111,506 are regarded as free reserves, after allowing for funds tied up in tangible fixed assets.

The principal objective of the Wallingford Sports and Social Club Ltd (WSSC) is to generate funds to help the Trust provide the facilities for the playing of sport. The charity has now invested £55,980 in its subsidiary and made a loan of £62,000. This loan is secured on the assets of the company (£49,314 as at 31 March 2022). As a result of the ongoing effects of Coronavirus and the associated limited availability of indoor facilities during 21/ 22, WSSC’s income remained significantly reduced as compared to pre- pandemic levels during the financial year. Significant efforts were made to restore trading levels which have now returned to acceptable levels during 2022. The Trust is therefore satisfied that Wallingford Sports and Social Club Ltd will be able to repay the loan from its projected profits and that the investment in the trading subsidiary is an appropriate investment of the Trust’s resources.

FUTURE DEVELOPMENTS

The Trust will continue to work to assist the clubs to provide sporting opportunities to the residents of South Oxfordshire, with a particular emphasis on the encouragement of young people to play sport.

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees are responsible for preparing a T rustee’s annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the

3

'I'FITr". II'AI.I.INGTr"()RD %P()RI"S TKLST I reportto the tntsteesonmy examinat￿n01t￿e attounts off ihe frust fof the yearended 3J March 2022. Re5ponsibslities and ba515 ol rtpon As ihe charity trustee5 of the Trustyou are re5pa?sible lor the preparation of.he accounts 3ccordènce with tle reou.remenis of The Charities Att 20111'The Act'l. I report in respect of rn¥ examir¢aib)n of the Tru51's accour.ls carried oul under sccrion 145 of rhe 2011 Att and n carrying oul my examinaiion I have followed all rhe aPp1Kab￿ Direction5 siven bv the Chariiy Commiss￿￿ under 5ecton 14St511bl of the Att. Independent examinerfs statement I hève completed my exarninat￿￿. I mpfirm thai no materialmètters have corne io my aitonrx)n In nnettion with the Èxaminatron gNing me cause to boh.eve that in JAY m3terol respett.. 111 Accounting recofds wefe not kept in respect of the Trust as required by settk)n I￿)Of the Act", or 121 Thc artou4t5 do not accoid wrth rFTose fccords- or 131 The accounts éo noi comply w¢lh Ihe opplicJble requ￿ementS concern￿8t￿e form and conteni ol accounts set out in the Charities IAccoun4S and Reports) RegulatJon$ 2W8oihor thar* any requirement th3t ihe atrobn15 give è'trut and fail vtw whifh Is not a m.Irte¥ considered as part of an mdependeni exominotKJn. have no concern5 and have corne 3Er055 no matters in conrnectK)n wiih the examlnation io which attention should be drawn in ihis report in order to enable a proper understandM)e of the accounts to reached. Heather Merryweather ACA 8roadlands 13 Preston Crowmarsh Waninglor oxoN OXIO 6SL

THE WALLINGFORD SPORTS TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Notes £ £ £ £
INCOME FROM:
Donations and grants 2 26,985 18,748 45,733 84,678
Charitable activities 3 94,365 0 94,365 48,502
Other trading activities 4 26,198 0 26,198 8,105
Investment income 5 747 0 747 541
TOTAL 148,294 18,748 167,042 141,826
EXPENDITURE ON: `
Charitable activities 6 128,233 37,960 166,193 100,753
TOTAL 128,233 37,960 166,193 100,753
NET INCOME/(EXPENDITURE) 20,062 (19,212) 850 41,073
TRANSFER BETWEEN FUNDS 13 0 0 0 0
NET MOVEMENT IN FUNDS 20,062 (19,212) 850 41,073
RECONCILIATION OF FUNDS
Total funds brought forward 13 349,527 661,944 1,011,471 970,398
TOTAL FUNDS CARRIED FORWARD 369,588 642,732 1,012,321 1,011,471
----- End of picture text -----

6

2022 202L
Total Total
Funds Funds
Notes f e
FIXED ASSETS:
Tangibleassets 8 778,449 749,468
lnvestments 9 117,980 105,480
TOTALFIXED ASSETS 836,429 854,948
CURRENTASSETS:
Debtors 10 43,815 20,787
Cashatbankand inhand 144,192 747,442
TOTAL CURRENTASSETS 188,006 168,228
[IABILITIES:
Creditors:Amounts fallingduewithinoneyear 11 72,1L5 17,705
NETCURRENT ASSETS/(LIABILIT]ES) t75,892 L56,524
TOTALASSETSLESSCURRENT LIABILITIES L,OL2,32t L,OL7,47L
Creditors: Amounts falling dueafteroneyear
NET ASSETS t,o]'z,3Z1 L,OLL,47L
THE FUNDSOF THECHARITY
Unrestricted funds 13 369,s88 349,526
Restrictedfunds 13 642,732 651,945
TOTAL CHARITY FUNDS 1,1012,321 \47L,471

THE WALLINGFORD SPORTS TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2022

----- Start of picture text -----
2022 2021
Total Total
Funds Funds
Notes £ £
CASH FLOWS FROM OPERATING ACTIVITIES:
NET CASH PROVIDED BY OPERATING ACTIVITIES 16 8,966 65,087
Cash flows from investing activities :
Loan to subsidiary (12,500) (7,500)
Purchase of fixed assets (112) (20,594)
Proceeds from sale of fixed assets 396 0
NET CASH USED IN INVESTING ACTIVITIES (12,216) (28,094)
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR (3,250) 36,993
Cash and cash equivalents brought forward 147,442 110,449
CASH AND CASH EQUIVALENTS CARRIED FORWARD 144,192 147,442
----- End of picture text -----

8

THE WALLINGFORD SPORTS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

1 ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, the Charities Act 2011 and the requirements of 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 published on 16 July 2014 (FRS102).

Charitable trading

Charitable trading income represents the total amount received for AWP and pitch hire in respect of sporting and recreational facilities.

Donations

Donations represents amounts received from the associated clubs and from Wallingford Sports and Social Club Ltd, together with any miscellaneous donations received.

Grant Income

Grant Income is recognised at it is received.

Fundraising events

Fundraising events represents amounts received from events organised by the Trust to raise funds for charitable purposes.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Leasehold Buildings Straight line 2%
All Weather Pitch Straight line 10%
Plant and Machinery Straight line 10%
Computer Equipment Straight line 33%
Fixtures and fittings Straight line 10%
Multi-Sport Straight line 10%
Squash roof Straight line 5%

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Designated funds are those which the Trustees have set aside out of unrestricted general funds for specific future purposes or projects.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when the funds are raised for a specific restricted purpose.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the period of the lease.

9

2 DONATIONS AND GRANTS

Donations:
AWP replacement
Multi Sport Project
Miscellaneous
Grants :
National Lottery community fund
SODC
Sport England
CJRS
3
INCOME FROM CHARITABLE ACTIVITIES
Club Contributions
Promotion of sport and recreation
AWP Bookings
Promotion of sport and recreation
Other sports bookings
Promotion of sport and recreation
4
OTHER TRADING ACTIVITIES
Car parking
Camping
Income for supply of services to subsidiary
Gift aided profits from subsidiary
Other		 2022
£
0
0
1,348
10,000
24,522
8,748
1,115
45,733
2022
£
22,285
66,665
5,415
94,365
2022
£
208
811
23,740
0
1,439
26,198		 2021
£
0
0
11,680
0
44,797
5,000
23,201
84,678
2021
£
30,019
18,483
0
48,502
2021
£
0
0
8,105
0
0
8,105

The wholly owned trading subsidiary Wallingford Sports and Social Club Ltd ( company no. 10654339) pays all of its profits to the charity under the gift aid scheme. Wallingford Sports and Social Club Ltd has been formed for the purpose of running the bar and function rooms at the Sports Park.

5 INVESTMENT INCOME

Interest
6
CHARITABLE ACTIVITIES COSTS
Wages & Salaries
Repairs & maintenance
Utilities
Insurance
Depreciation
Rent
Other
Total
7
EMPLOYEE & TRUSTEE REMUNERATION
Wages and Salaries
Social Security Costs
Pension Costs		 2022
£
747
2022
Charitable
Support
Total
Activities
Costs
£
£
£
35,246
3,564
38,811
29,268
29,268
16,846
16,846
14,913
14,913
29,397
29,397
1,575
1,575
33,889
1,494
35,383
161,134
5,058
166,193
2022
£
35,783
1,532
1,496
38,811		 2021
£
541
2021
Total
£
43,511
4,410
6,303
13,439
28,739
1,575
2,775
100,753
2021
£
40,561
706
2,244
43,511

No employees had emoluments in excess of £60,000.

The average number of full-time equivalent employees during the year was 1.5. (2021:1.5)

Pension contributions to a pension scheme of £1,496 (2021: £2,244) was made in respect of 1.5 employees.

Trustees' remuneration, benefits and expenses

There were no Trustees' remuneration or other benefits or expenses paid for the year ended 31 March 2022 ( 2020: NIL) .

10

8 TANGIBLE FIXED ASSETS

Leasehold All Weather Leasehold All Weather Plant and Fixtures and Computer Kitchen Multi- Sport Squash Roof Totals
buildings Pitch machinery Fittings equipment refurbishment
£ £ £ £ £ £ £ £ £
COST
Bfwd on 1st April 2021 803,183 192,000 13,820 5,041 1,075 30,572 68,927 39,284 1,153,902
Additions 0 0 0 0 112 0 0 0 112
Disposals 0 0 0 0 0 (2,477) 0 0 (2,477)
At 31st March 2022 803,183 192,000 13,820 5,041 1,187 28,095 68,927 39,284 1,151,537
DEPRECIATION
Bfwd on 1st April 2021
Charge for year
Eliminated on disposal		 168,293
16,064
0		 192,000
0
0		 7,092
1,382
0		 5,041
0
0		 1,075
37
0		 9,172
3,057
(743)		 17,833
6,893
0		 3,928
1,964
0		 404,434
29,397
(743)
At 31st March 2022 184,356 192,000 8,474 5,041 1,112 11,486 24,726 5,893 433,088
NET BOOK VALUE
At 31st March 2022		 618,827 0 5,346 0 75 16,610 44,201 33,391 718,449
9 INVESTMENT
Investment in Wallingford Sports and Social Club Ltd
Loan to subsidiary company		 2022
£
55,980
62,000		 2021
£
55,980
49,500
117,980 105,480

The loan to Wallingford Sports and Social Club Ltd is secured by a fixed and floating charge over the company's assets.

10 DEBTORS

Due within one year
Trade debtors
Prepayments
Amounts owed from subsidiary undertakings
Accrued income
PAYE & VAT
11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals
Deferred income
Other creditors
12 OPERATING LEASES
The total minimum lease payments under non-cancellable leases for the following periods
Not later than one year
Later than one year but not later than five years
Later than five years		 2022
£
14,373
7,997
20,177
0
1,268
43,815
2022
£
1,649
9,839
0
626
12,115
2022
£
1,550
7,750
34,100
43,400		 2021
£
1,222
7,361
7,063
1,050
4,090
20,787
2021
£
222
1,327
2,500
7,656
11,705
2021
£
1,550
7,750
35,650
44,950

On 28 November 2007, the lease for the land from which the Trust operates the sports park was signed by the Trustees and South Oxfordshire District Council. The renewed lease terms were effective from 1 June 2007 for a period of 30 years. On 13th May 2015 the lease was extended by 12 years to mature on 31st May 2049. The market rate set was discounted by 90% for the first 7 years and was extended by a further 7 years on 1st June 2014. Since the expiry (on the 1st June 2021 ) of the extended period of discount the Trust has been in discussions with South Oxfordshire District Council over the rent and associated discount. These discussions have unfortunately not reached a conclusion at the time of signing the accounts. For the purposes of these accounts it has been assumed that the current rent and associated discount will continue for the period of the lease.

11

13 MOVEMENT IN FUNDS

Unrestricted funds
General fund
Junior Sports Reserve
Restricted funds
Leasehold Premises
AWP
Changing Rooms
Kitchen refurbishment
Squash
Multi Sport
Security & disabled access
Lights
Pavilion development
Master site plan
TOTAL FUNDS		 Opening
Net Movt in
Funds
£
£
349,527
20,062
0
0
349,527
20,062
122,662
(3,600)
68,698
0
360,093
(8,396)
19,602
(4,395)
36,072
(1,964)
49,829
(6,893)
1,249
(871)
3,740
(3,740)
0
10,000
0
648
661,944
(19,212)
1,011,471
850		 Fund
Transfers
At 31.03.22
£
£
0
369,588
0
0
369,588
119,061
68,698
351,697
15,207
34,107
42,936
378
0
10,000
648
0
642,732
0
1,012,321

Net movement in funds, included in above are as follows:

Unrestricted funds
General fund
Restricted funds
Leasehold Premises
AWP
Changing Rooms
Kitchen refurbishment
Squash
Multi Sport
Security & disabled access
Lights
Pavilion development
Master site plan		 Incoming
resources
£
148,294
0
0
0
0
0
0
0
0
10,000
8,748
167,042		 Resources
expended
£
128,233
3,600
0
8,396
4,395
1,964
6,893
871
3,740
0
8,100
166,193		 Movement
in funds
£
20,062
(3,600)
0
(8,396)
(4,395)
(1,964)
(6,893)
(871)
(3,740)
10,000
648
850

Purposes of restricted funds

Leasehold Premises - This fund primarily relates to an extension built onto The Pavilion in the year ended 31 March 2002 by Linden Homes for the ABM Skittles Club but also includes subsequent improvements which have been funded by grants.

ABM Skittles Club extension - As part of Section106 Planning Order, Linden Homes were obliged to provide the ABM Skittles Club with a new bowling alley in exchange for the previous club house which was demolished as part of a residential building project. Wallingford Sports Trust volunteered this on their land. The fund will reduce each year as depreciation is charged against the building.

AWP Pitch Replacement - This fund relates to recent donations and associated gift aid for the future replacement of the all weather pitch surface. Changing rooms - This fund relates to grants received from SODC, WREN, Sport England and the RFU for the replacement of the changing rooms. The fund will reduce each year as depreciation is charged against the building.

Kitchen refurbishment - Relates to funds received from WREN to refurbish the kitchen to improve the facilities. The fund will reduce as depreciation is charged against the facilities.

Squash - The Squash funding comes from a Section 106 agreement for a housing development on the old Habitat site at Moreton Avenue, Hithercroft Industrial Estate, which was designated for improving indoor sports facilities serving the (housing) site. It funded two new roofs and refurbished showers to the squash courts. The fund will reduce as depreciation is charged against the facilities.

Multi Sport - The multisport project was a grouping of 3 individual projects covering a new car park for 50 cars on the Jubilee Field, the upgrading of the existing main football pitch lights to Hellenic League standard plus installation of separate training lights and the installation of a new tennis pavilion to replace the old one damaged in the 2014 floods. It was funded 50% by an SODC Community Grant with the remainder coming from a Football Foundation grant, the Tennis Club itself and other smaller donations.

Security and disabled access - A fund created from grants received from SODC to improve personal security and disabled access to the pavilion.

Lights - This fund relates to funds received from a Local Member SODC grant towards replacing the old lights in the pavilion with modern energy efficient LED Pavilion development - This fund is for the development of the main pavilion which is being improved with a view to increasing its attractiveness in the post pandemic era following a significantly hesitant return of many of our previous community activities and groups in the very time when we should be experiencing increased demand from rapid housing growth in the area.

Master site plan - An award from Sport England to employ FMG to work with WST to develop a 5 yr Master site and business plan for the Sports Park.

12

14 ANALYSIS OF NET ASSETS BETWEEN FUNDS

----- Start of picture text -----
Unrestricted Restricted Total
£ £ £
Fixed Assets 258,023 578,406 836,429
Current Assets 123,680 64,326 188,006
Creditors: Due within one year (12,115) (12,115)
369,588 642,732 1,012,321
----- End of picture text -----

15 RELATED PARTY DISCLOSURES

The charity was controlled throughout the current by the Trustees collectively.

As at 31st March 2022 no monies were owed by the associate clubs (2021:Nil).

16 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Adjustments for :
Depreciation charges
Loss on sale of fixed assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
Net income/(expenditure) for the year		 2022
Total
Funds
£
850
29,397
1,338
(23,028)
410
8,966		 2021
Total
Funds
£
41,073
28,739
0
(6,447)
1,721
65,087

17 CAPITAL COMMITMENTS

The charity had no capital commitments as at 31 March 2022 ( 2021:£NIL)

13