REGISTERED CHARITY NUMBER: 1171574
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 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 2024
The Trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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 J Pebworth Ms B Guiver Mr J Atkins Mrs L Tamlyn (Resigned 31 August 2023) Mr N Hughes Mr A Aldred Mrs N House Mr P Abery Ms S Abrey Mr A Beasley Mr M Hoare Mr K Rawlingson Mr P O’Neill (Appointed 28[th] September 2023, Resigned 29[th] April 2024) Mr A Bucknell (Appointed 29[th] April 2024) Mr J Kirkpatrick (Appointed 31 August 2023)
Independent Examiner
Jane Shaw BA(Hons) ACA
Bank
Barclays Bank plc
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THE WALLINGFORD SPORTS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
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 2024.
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 Wallingford 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 2023/24 have returned and, in many cases, exceeded pre-covid levels. This income continues to be supplemented with the regular monthly income from a two-year agreement with a local school for use of the sporting facilities.
Energy efficiency has been a major focus for the Trust over the last couple of years. The Trust has seen the benefits from the replacement of outside floodlights on the AWP to LED in the previous year. The project to install the solar/battery system was completed this year, funded 80% from
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THE WALLINGFORD SPORTS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
grants. Despite the poor weather the system has generated valuable amounts of electricity which has reduced our reliance on the national grid, at the same time as reducing our carbon footprint.
Work was completed 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 £186,742 during the year to 31 March 2024 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 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 £439,110 (2023: £395,720) of which £191, 825 (2023: £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 (£59,180 as at 31 March 2024). As a result of the efforts of the Sports Park manager in promoting the facilities at the sports park, WSSC’s income has significantly improved to higher than pre covid levels. WSSC was significantly impacted by the increased utility costs during this year, however the Trust 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 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:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the applicable Charities SORP;
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o Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
3
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THE WALLINGFORD SPORTS TRUST
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE WALLINGFORD SPORTS TRUST FOR THE YEAR ENDED 31 MARCH 2024
I report to the trustees on my examination of the accounts of the Trust for the year ended 31 March 2024.
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 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.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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(1) Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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(2) The accounts do not accord with those records; or
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(3) The accounts do 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 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.
Jane Shaw BA(Hons) ACA
Greenacres Farm Howe Road Watlington OXON OX49 5EW
Date: 14[th] August 2024
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THE WALLINGFORD SPORTS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| 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 |
2024 Unrestricted Restricted Total Funds Funds Funds £ £ £ 3,553 181,618 185,171 171,658 0 171,658 37,785 0 37,785 5,292 0 5,292 218,288 181,618 399,905 ` 167,491 45,673 213,164 167,491 45,673 213,164 50,797 135,945 186,742 (7,406) 7,406 0 43,390 143,351 186,742 395,720 641,561 1,037,280 439,110 784,912 1,224,022 |
2023 Total Funds £ 36,364 153,359 35,264 2,343 |
|---|---|---|
| 227,330 202,370 |
||
| 202,370 | ||
| 24,960 0 |
||
| 24,960 | ||
| 1,012,321 | ||
| 1,037,280 |
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THE WALLINGFORD SPORTS TRUST
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2024
| 2024 Total Funds Notes £ CASH FLOWS FROM OPERATING ACTIVITIES: NET CASH PROVIDED BY OPERATING ACTIVITIES 16 229,889 Cash flows from investing activities : 0 Purchase of fixed assets (121,413) Proceeds from sale of fixed assets 0 NET CASH USED IN INVESTING ACTIVITIES (121,413) CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR 108,476 Cash and cash equivalents brought forward 130,486 CASH AND CASH EQUIVALENTS CARRIED FORWARD 238,961 Loan to subsidiary |
2023 Total Funds £ 71,537 0 (85,243) 0 |
|---|---|
| (85,243) (13,706) 144,192 |
|
| 130,486 |
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THE WALLINGFORD SPORTS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
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% |
|---|---|---|
| Toilet refurbishment | Straight line | 10% |
| 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% |
| Solar panels | Straight line | 7% |
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.
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2 DONATIONS AND GRANTS
| Donations: Miscellaneous Grants : National Lottery community fund SODC & ODC Sport England Active Oxfordshire Westmill Solar Co-operative - Community Fund Town council FCC 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 |
Unrestricted Restricted 2024 £ £ £ 3,553 7,000 10,553 0 0 0 0 85,250 85,250 0 0 0 0 990 990 0 0 0 0 12,000 12,000 0 76,378 76,378 3,553 181,618 185,171 Unrestricted Restricted 2024 £ £ £ 30,267 0 30,267 59,683 0 59,683 81,708 0 81,708 171,658 0 171,658 Unrestricted Restricted 2024 £ £ £ 6,975 0 6,975 11,712 0 11,712 18,216 0 18,216 0 0 0 882 0 882 37,785 0 37,785 |
2023 £ 5,339 10,000 6,681 (648) 9,992 5,000 0 0 |
|---|---|---|
| 36,364 | ||
| 2023 £ 38,300 61,793 53,266 |
||
| 153,359 | ||
| 2023 £ 3,145 7,096 24,610 0 413 |
||
| 35,264 |
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 Contributions |
Unrestricted Restricted 2024 £ £ £ 5,292 0 5,292 2024 Unrestricted Restricted Total £ £ £ 62,817 62,817 44,777 44,777 28,722 28,722 17,405 17,405 5,513 35,306 40,819 1,575 1,575 6,682 10,366 17,049 167,491 45,673 213,164 2024 £ 59,650 2,076 1,091 62,817 |
2023 £ 2,343 |
| 2023 Total £ 59,564 41,075 25,233 16,490 33,573 1,575 24,861 |
||
| 202,370 | ||
| 2023 £ 55,826 2,467 1,271 |
||
| 59,564 |
No employees had emoluments in excess of £60,000.
The average number of full-time equivalent employees during the year was 1.5. (2023:1.5)
Trustees' remuneration, benefits and expenses
There were no Trustees' remuneration or other benefits or expenses paid for the year ended 31 March 2024 ( 2023: NIL) .
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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 2023 854,436 225,990 13,820 5,041 1,187 28,095 68,927 39,284 1,151,537 Additions 120,162 0 0 262 0 0 0 0 120,423 Disposals 0 0 0 0 0 990 0 0 990 At 31st March 2024 974,598 225,990 13,820 5,303 1,187 29,085 68,927 39,284 1,358,193 DEPRECIATION Bfwd on 1st April 2023 201,445 195,399 9,856 5,041 1,150 14,295 31,618 7,857 466,661 Charge for year 24,308 3,399 1,382 26 38 2,810 6,893 1,964 40,819 Eliminated on disposal 0 0 0 0 0 0 0 0 0 At 31st March 2024 225,753 198,798 11,238 5,067 1,187 17,105 38,511 9,821 507,480 NET BOOK VALUE At 31st March 2024 748,845 27,192 2,582 236 0 11,981 30,416 29,463 850,713 2024 2023 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 £ £ £ £ £ £ £ £ £ 854,436 225,990 13,820 5,041 1,187 28,095 68,927 39,284 1,151,537 120,162 0 0 262 0 0 0 0 120,423 0 0 0 0 0 990 0 0 990 |
Leasehold All Weather Plant and Fixtures and Computer Kitchen Multi- Sport Squash Roof Totals buildings Pitch machinery Fittings equipment refurbishment £ £ £ £ £ £ £ £ £ 854,436 225,990 13,820 5,041 1,187 28,095 68,927 39,284 1,151,537 120,162 0 0 262 0 0 0 0 120,423 0 0 0 0 0 990 0 0 990 |
Leasehold All Weather Plant and Fixtures and Computer Kitchen Multi- Sport Squash Roof Totals buildings Pitch machinery Fittings equipment refurbishment £ £ £ £ £ £ £ £ £ 854,436 225,990 13,820 5,041 1,187 28,095 68,927 39,284 1,151,537 120,162 0 0 262 0 0 0 0 120,423 0 0 0 0 0 990 0 0 990 |
|---|---|---|---|
| 974,598 225,990 13,820 5,303 1,187 29,085 68,927 39,284 1,358,193 |
|||
| 201,445 195,399 9,856 5,041 1,150 14,295 31,618 7,857 466,661 24,308 3,399 1,382 26 38 2,810 6,893 1,964 40,819 0 0 0 0 0 0 0 0 0 |
|||
| 225,753 198,798 11,238 5,067 1,187 17,105 38,511 9,821 507,480 |
|||
| 748,845 27,192 2,582 236 0 |
11,981 30,416 29,463 850,713 |
||
| 2024 £ 55,980 62,000 117,980 |
2023 £ 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 VAT 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 |
2024 £ 13,962 13,376 23,470 0 0 50,808 2024 £ 5,529 16,084 7,113 4,524 1,190 34,440 2024 £ 1,550 7,750 31,000 40,300 |
2023 £ 14,891 8,493 17,674 0 12,966 |
|---|---|---|
| 54,024 | ||
| 2023 £ 15,014 10,974 7,619 0 1,721 |
||
| 35,327 | ||
| 2023 £ 1,550 7,750 32,550 |
||
| 41,850 |
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.
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13 MOVEMENT IN FUNDS
| Opening Unrestricted funds £ General fund 395,720 Restricted funds Leasehold Premises 115,461 AWP 68,698 Changing Rooms 343,300 Kitchen refurbishment 12,398 Squash 32,143 Multi Sport 36,044 Pavilion development 8,975 AWP lights 0 Active Oxfordshire 9,542 Solar panels 15,000 641,561 TOTAL FUNDS 1,037,280 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 Pavilion development AWP lights Active Oxfordshire Solar panels |
Opening £ 395,720 115,461 68,698 343,300 12,398 32,143 36,044 8,975 0 9,542 15,000 |
Net Movt in Funds £ 50,797 (3,600) 0 (8,396) (2,810) (1,964) (6,893) 78,527 41,601 (9,376) 48,856 135,945 186,742 Incoming resources £ 218,288 0 0 0 0 0 0 81,378 45,000 990 54,250 399,905 |
Fund Transfers £ (7,406) 3,000 (3,399) 7,805 |
At 31.03.24 £ 439,110 111,860 68,698 334,904 9,588 30,179 29,151 90,502 38,202 166 71,661 |
|---|---|---|---|---|
| 641,561 | 7,406 | 784,912 | ||
| 1,037,280 | 0 | 1,224,022 | ||
| Resources expended £ 167,491 3,600 0 8,396 2,810 1,964 6,893 2,851 3,399 10,366 5,394 213,164 |
Movement in funds £ 50,797 (3,600) 0 (8,396) (2,810) (1,964) (6,893) 78,527 41,601 (9,376) 48,856 |
|||
| 105,661 |
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.
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.
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.
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14 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fixed Assets Current Assets Creditors: Due within one year |
2024 Unrestricted Restricted Total £ £ £ 247,285 721,407 968,692 226,265 63,505 289,770 (34,440) (34,440) 439,110 784,912 1,224,022 |
2023 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.
A summary of the key related party debtor(creditor) balances as at 31 March is shown below:
| A summary of the key related party debtor(creditor) balances as at 31 | March is shown below: | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Hithercroft Squash Club | 434 | 2,019 |
| Wallingford Hockey Club | 3,790 | 4,145 |
| ABM Skittles Club | 3,300 | 0 |
| Wallingford Town Football Club | 733 | 0 |
| Petanque Wallingford | 10 | 0 |
| Wallingford Rugby Club Ltd | 51 | 0 |
| Portcullis Tennis Club | 1,032 | 0 |
The following related party transactions occurred during the reporting period :
| Related Party | Nature of relationship | Nature of transaction | £ |
|---|---|---|---|
| Wallingford Sports & Social Club Ltd | Trading subsidiary | Receipt of management services recharges | 18,216 |
| Wallingford Sports & Social Club Ltd | Trading subsidiary | Receipt for loan interest charges | 3,759 |
| Wallingford Castle Archers | Constituent Club | Receipt of club contribution | 3,300 |
| Wallingford Rugby Club Ltd | Constituent Club | Receipt of club contribution | 1,732 |
| Wallingford Rugby Club Ltd | Constituent Club | Donation received | 5,000 |
| Wallingford Rugby Club Ltd | Constituent Club | Receipt for electricity charges | 136 |
| Portcullis Tennis Club | Constituent Club | Receipt of club contribution | 6,300 |
| Portcullis Tennis Club | Constituent Club | Receipt for electricity charges | 2,335 |
| Hithercroft Squash Club | Constituent Club | Receipt of club contribution | 5,735 |
| Hithercroft Squash Club | Constituent Club | Receipt for electricity charges | 891 |
| Wallingford Hockey Club | Constituent Club | Receipt of club contribution | 3,300 |
| Wallingford Hockey Club | Constituent Club | Receipt of pitch hire fees | 25,034 |
| Wallingford Town Football Club | Constituent Club | Receipt of club contribution | 3,300 |
| Wallingford Town Football Club | Constituent Club | Receipt for electricity charges | 2,017 |
| Wallingford Town Football Club | Constituent Club | Payments for pitch maintenance | (24,000) |
| ABM Skittles Club | Constituent Club | Receipt of club contribution | 3,300 |
| Petanque Wallingford | Constituent Club | Receipt of club contribution | 3,300 |
| Petanque Wallingford | Constituent Club | Receipt for electricity charges | 8 |
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 |
2024 Total Funds £ 186,742 40,819 0 3,216 (887) 229,889 |
2023 Total Funds £ 24,960 33,573 0 (10,209) 23,213 |
|---|---|---|
| 71,537 |
17 CAPITAL COMMITMENTS
The charity had no capital commitments as at 31 March 2024 ( 2023:£35,835)
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