REGISTERED CHARITY NUMBER: 1171574
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 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 2023
The Trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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 Ms S Leigh Ms B Guiver Mrs L Tamlyn Mr A Aldred Mr P Abery Mr A Beasley Mr K Rawlinson (Appointed 30[th] March 2023) Mr R Haycock (Resigned 30[th] March 2023) Mr C Norrington (Resigned 9[th] January 2023)
Elected
Mr J Pebworth Mr J Atkins Mr N Hughes Mrs N House Ms S Abrey (Appointed 4[th] April 2022) Mr M Hoare (Appointed 9[th] January 2023 ) Mr S Mount (Resigned 26[th] September 2022) Mr D Williams (Resigned 19[th] July 2022)
Independent Examiner
Paul Clewlow & Co Ltd Accountants & Certified Bookkeepers Wallingford OX10 7EX
Bank
Barclays Bank plc
1
THE WALLINGFORD SPORTS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a Charitable Incorporated Organisation (CIO) controlled by its constitution.
Management
The Wallingford Sports Trust ( “ 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 always greater than Elected Trustees. 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 4 times during the year to 31 March 2023.
The Trustees identify and review 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 Wallingfor d Sports Trust’s aims, objectives 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 2200 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
Revenues in 2022/23 have returned and, in some cases, exceeded pre-covid levels. This income has been supplemented with the regular monthly income from a two-year agreement with a local school for use of the sporting facilities. However, during 2022/23 the Trust faced the threat of significant energy cost increases as fixed priced deals came to an end as energy prices soared. This recent energy crisis precipitated a detailed review of the energy use across the sports park with the Oxford Low Carbon Hub by Brookes University. Following the report, the Trust implemented several of the recommended actions including upgrading the internal lights to LED and the replacement of
2
THE WALLINGFORD SPORTS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
inefficient fridge and freezers. This improvement work extended to the replacement of outside floodlights on the AWP to LED, which was completely funded by a s106 grant. Other projects including the installation of a solar/battery system are due to be completed later in 2023, to be funded 80% from grants. These energy efficiency initiatives so far have reduced consumption across the park by 1/3[rd] and mitigated the potentially severe financial impact of the crisis.
The resignation of the Chairman during the year prompted a reorganisation and review of the key roles of the Trustees and the appointment of co-chairs. This review also extended to a review of the relationship between the Trust and the Clubs under the guidance and facilitation of a third-party facilitator. This review concluded that the existing collegiate organisational model was the right one.
Work started on the improvements to the western frontage of the main pavilion to make it a more attractive venue for sporting, community, and social activities.
Attention is now focused on the project to resurface the AWP. Funding has been impaired over the last 3 years by having to prioritise the survival of the whole park, so a 2024 installation date is now heavily reliant on accessing external funding.
FINANCIAL REVIEW
The value of the Tr ust’s funds increased by £24,960 during the year to 31 March 2023 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 l evel will 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 £395,720 of which £143,183 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 (£38,866 as at 31 March 2023). As a result of the efforts of the Sports Park manager in promoting the facilities at the sports park, WSSC’s income has signifi cantly improved to higher than pre covid levels. WSSC was significantly impacted by the increased utility costs during this year, however the Trust is remains 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
3
Independent examiner's report to the trustees of Wallingford Sports Trust I report to the trustees on my examination of the accounts of the Wallingford Sports Trust {the Trust) for the year ended 31 sl March 2023. Responsibilities and basis of report As the charity trustees of the trust, 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 Trust's accounts carried out under section 145 of the 2011 Acl and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5)Ib) of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection wilh the examination giving me cause to believe that in any material respect.. 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act., or 2. the accounts do not accord with those records.. or 3. the accounts do not comply with the applicable requirements conceming 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 lo be reached. Paul Clewlow FICB Paul Clewlow & Co Lld 4 Plough Close. Shillingford Wallingford OX10 7EX 281h June 2023
THE WALLINGFORD SPORTS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023
| Notes INCOME FROM: Donations and grants 2 Charitable activities 3 Other trading activities 4 Investment income 5 TOTAL EXPENDITURE ON: Charitable activities 6 TOTAL NET INCOME/(EXPENDITURE) TRANSFER BETWEEN FUNDS 13 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward 13 TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted Restricted Total Funds Funds Funds £ £ £ 11,372 24,992 36,364 153,359 0 153,359 35,264 0 35,264 2,343 0 2,343 202,338 24,992 227,330 ` 173,185 29,185 202,370 173,185 29,185 202,370 29,153 (4,193) 24,960 (3,022) 3,022 0 26,131 (1,172) 24,960 369,588 642,732 1,012,321 395,720 641,561 1,037,280 |
2022 Total Funds £ 45,733 94,365 26,198 747 |
|---|---|---|
| 167,042 166,193 |
||
| 166,193 | ||
| 850 0 |
||
| 850 | ||
| 1,011,471 | ||
| 1,012,321 |
6
| 2023 | 2022 | ||
|---|---|---|---|
| Total | Total | ||
| Funds | Funds | ||
| f_ | E | ||
| FIXED ASSETS: | |||
| Tangibleassets | 8 | 770,11.8 | 718,449 |
| lnvestments | 9 | tfi,984 | t1,7,980 |
| TOTATFIXED ASSETS | ____i99491 | ____!19431 | |
| CURRENTASSETS: | |||
| Debtors | 10 | 54,024 | 43,815 |
| Cashatbankand inhand | 130,486 | 144,I92 | |
| TOTAL CURRENTASSETS | 184,510 | 188,006 | |
| LIABILITIES: | |||
| CreditorsrAmounts falling duewithinoneyear | 11 | 35,327 | 12,1.15 |
| NET CURRENT ASSETS/(TIABITITIES) | -___14s-482 | 17s,892 | |
| TOTAIASSETSLESSCURRENT LIABILITIES | L,O37,280 | l,ot2,32L | |
| Creditors: Amounts falling due afteroneyear | |||
| NET ASSETS | L,037,280 | !,012,32L | |
| THE FUNDSOF THECHARIW | |||
| Unrestricted funds | 13 | 395,720 | 369,s88 |
| Restrictedfunds | 13 | 641,561 | 642,732 |
| TOTAL CHABITY FUNDS | L,O37,2gO | t,o12,32L |
THE WALLINGFORD SPORTS TRUST
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2023
| 2023 Total Funds Notes £ CASH FLOWS FROM OPERATING ACTIVITIES: NET CASH PROVIDED BY OPERATING ACTIVITIES 16 71,537 Cash flows from investing activities : 0 Purchase of fixed assets (85,243) Proceeds from sale of fixed assets 0 NET CASH USED IN INVESTING ACTIVITIES (85,243) CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR (13,706) Cash and cash equivalents brought forward 144,192 CASH AND CASH EQUIVALENTS CARRIED FORWARD 130,486 Loan to subsidiary |
2022 Total Funds £ 8,966 (12,500) (112) 396 |
|---|---|
| (12,216) (3,250) 147,442 |
|
| 144,192 |
8
THE WALLINGFORD SPORTS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
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 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.
Irrecoverable VAT
All resources expended or capitalised are classified under appropriate activity headings. Irrecoverable VAT is charged against the category or resources expended or capitalised for which it was incurred.
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 & improvements | Straight line | 2% |
|---|---|---|
| All Weather Pitch & lights | 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: Miscellaneous Grants : National Lottery community fund SODC & ODC Sport England Active Oxfordshire Westmill Solar Co-operative - Community Fund 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 |
2023 £ 5,339 10,000 6,681 (648) 9,992 5,000 0 36,364 2023 £ 38,300 61,793 53,266 153,359 2023 £ 3,145 7,096 24,610 0 413 35,264 |
2022 £ 1,348 10,000 24,522 8,748 0 0 1,115 |
|---|---|---|
| 45,733 | ||
| 2022 £ 22,285 66,665 5,415 |
||
| 94,365 | ||
| 2022 £ 208 811 23,740 0 1,439 |
||
| 26,198 |
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
| 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 |
2023 £ 2,343 2023 Charitable Support Total Activities Costs £ £ £ 51,279 8,285 59,564 41,075 41,075 25,233 25,233 16,490 16,490 33,573 33,573 1,575 1,575 24,861 24,861 194,086 8,285 202,370 2023 £ 55,826 2,467 1,271 59,564 |
2022 £ 747 |
| 2022 Total £ 38,811 29,268 16,846 14,913 29,397 1,575 35,383 |
||
| 166,193 | ||
| 2022 £ 35,783 1,532 1,496 |
||
| 38,811 |
No employees had emoluments in excess of £60,000.
The average number of full-time equivalent employees during the year was 1.5. (2022:1.5)
Pension contributions to a pension scheme of £1,271 (2022: £1,496) 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 2023 ( 2022: NIL) .
10
8 TANGIBLE FIXED ASSETS
| 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 2022 803,183 192,000 13,820 5,041 1,187 28,095 68,927 39,284 1,151,537 Additions 51,253 33,990 0 0 0 0 0 0 85,243 Disposals 0 0 0 0 0 0 0 0 0 At 31st March 2023 854,436 225,990 13,820 5,041 1,187 28,095 68,927 39,284 1,236,780 DEPRECIATION Bfwd on 1st April 2022 184,356 192,000 8,474 5,041 1,112 11,486 24,726 5,893 433,088 Charge for year 17,089 3,399 1,382 0 37 2,810 6,893 1,964 33,573 Eliminated on disposal 0 0 0 0 0 0 0 0 0 At 31st March 2023 201,445 195,399 9,856 5,041 1,150 14,295 31,618 7,857 466,661 NET BOOK VALUE At 31st March 2023 652,991 30,591 3,964 0 38 13,800 37,308 31,427 770,118 2023 2022 9 INVESTMENT £ £ Investment in Wallingford Sports and Social Club Ltd 55,980 55,980 Loan to subsidiary company 62,000 62,000 117,980 117,980 |
Leasehold All Weather Plant and Fixtures and Computer Kitchen Multi- Sport Squash Roof Totals buildings Pitch machinery Fittings equipment refurbishment £ £ £ £ £ £ £ £ £ 803,183 192,000 13,820 5,041 1,187 28,095 68,927 39,284 1,151,537 51,253 33,990 0 0 0 0 0 0 85,243 0 0 0 0 0 0 0 0 0 |
Leasehold All Weather Plant and Fixtures and Computer Kitchen Multi- Sport Squash Roof Totals buildings Pitch machinery Fittings equipment refurbishment £ £ £ £ £ £ £ £ £ 803,183 192,000 13,820 5,041 1,187 28,095 68,927 39,284 1,151,537 51,253 33,990 0 0 0 0 0 0 85,243 0 0 0 0 0 0 0 0 0 |
Leasehold All Weather Plant and Fixtures and Computer Kitchen Multi- Sport Squash Roof Totals buildings Pitch machinery Fittings equipment refurbishment £ £ £ £ £ £ £ £ £ 803,183 192,000 13,820 5,041 1,187 28,095 68,927 39,284 1,151,537 51,253 33,990 0 0 0 0 0 0 85,243 0 0 0 0 0 0 0 0 0 |
|---|---|---|---|
| 854,436 225,990 13,820 5,041 1,187 28,095 68,927 39,284 1,236,780 |
|||
| 184,356 192,000 8,474 5,041 1,112 11,486 24,726 5,893 433,088 17,089 3,399 1,382 0 37 2,810 6,893 1,964 33,573 0 0 0 0 0 0 0 0 0 |
|||
| 201,445 195,399 9,856 5,041 1,150 14,295 31,618 7,857 466,661 |
|||
| 652,991 30,591 3,964 0 38 |
13,800 37,308 31,427 770,118 |
||
| 2023 £ 55,980 62,000 117,980 |
2022 £ 55,980 62,000 |
||
| 117,980 |
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 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 |
2023 £ 14,891 8,493 17,674 0 12,966 54,024 2023 £ 15,014 10,974 7,619 1,721 35,327 2023 £ 1,550 7,750 32,550 41,850 |
2022 £ 14,373 7,997 20,177 476 792 |
|---|---|---|
| 43,815 | ||
| 2022 £ 1,649 9,839 0 626 |
||
| 12,115 | ||
| 2022 £ 1,550 7,750 34,100 |
||
| 43,400 |
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
| Opening Unrestricted funds £ General fund 369,588 Restricted funds Leasehold Premises 119,061 AWP 68,698 Changing Rooms 351,697 Kitchen refurbishment 15,207 Squash 34,107 Multi Sport 42,936 Security & disabled access 378 Pavilion development 10,000 Master site plan 648 AWP lights 0 Active Oxfordshire 0 Solar panels 0 642,732 TOTAL FUNDS 1,012,321 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 Pavilion development Master site plan AWP lights Active Oxfordshire Solar panels |
Opening £ 369,588 119,061 68,698 351,697 15,207 34,107 42,936 378 10,000 648 0 0 0 |
Net Movt in Funds £ 29,153 (3,600) 0 (8,396) (2,810) (1,964) (6,893) 0 (1,025) (648) (3,399) 9,542 15,000 (4,193) 24,960 Incoming resources £ 202,338 0 0 0 0 0 0 0 0 0 0 9,992 15,000 227,330 |
Fund Transfers £ (3,022) (378) 3,399 |
At 31.03.23 £ 395,720 115,461 68,698 343,300 12,398 32,143 36,044 0 8,975 0 0 9,542 15,000 |
|---|---|---|---|---|
| 642,732 | 3,022 | 641,561 | ||
| 1,012,321 | 0 | 1,037,280 | ||
| Resources expended £ 173,185 3,600 0 8,396 2,810 1,964 6,893 0 1,025 648 3,399 450 0 202,370 |
Movement in funds £ 29,153 (3,600) 0 (8,396) (2,810) (1,964) (6,893) 0 (1,025) (648) (3,399) 9,542 15,000 |
|||
| 3,817 |
Net movement in funds, included in above are as follows:
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.
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.
AWP Lights - Spending in anticpation of funding from a Section 106 agreement for the replacement of the AWP lights to LED bulbs to improve energy efficiency.
Active Oxfordshire - A fund received as Active Oxfordshire's delivery partner as part of Sport England's Together fund to help reduce the negative impact of COVID -19 and the widening inequalities in physical activity by targeting lower socio economic groups. Solar panels - A fund created from grants recevied from the National Lottery Community fund and Westmill Solar Co-operative to install solar panels and battery to improve energy efficiency.
12
14 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fixed Assets Current Assets Creditors: Due within one year |
Unrestricted Restricted Total £ £ £ 252,536 635,562 888,098 178,511 5,999 184,510 (35,327) (35,327) |
|---|---|
| 395,720 641,561 1,037,280 |
15 RELATED PARTY DISCLOSURES
The charity was controlled throughout the current period by the Trustees collectively. As at 31st March 2023 the following net amounts were owed by associated clubs : Hithercroft Squash Club £2,018.58
Wallingford Hockey Club £4,145.00
(2022:No monies were owed by the associate clubs ).
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 |
2023 Total Funds £ 24,960 33,573 0 (10,209) 23,213 71,537 |
2022 Total Funds £ 850 29,397 1,338 (23,028) 410 |
|---|---|---|
| 8,966 |
17 CAPITAL COMMITMENTS
The charity had £35,835 capital commitments as at 31 March 2023 ( 2022:£NIL)
13