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 1 **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 2 ## **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: - Select suitable accounting policies and then apply them consistently; - Observe the methods and principles in the applicable Charities SORP; - o Make judgements and estimates that are reasonable and prudent; - State whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; 3 THE WALLINGFORD SPORTS TRUST REPOR T QF IHE TRUSTEES FQR TtrIE YEAR ENDED 31 MARCH2024 ihat chkn*Illc￿ti￿ue In I￿5•r￿. The Trysleesare ￿S￿)￿s*bIe lor keeth prtyeracC0￿l￿￿ records dtscbse with reat￿a￿de Icojraryai anytimethe financial p05ii*Jn olthe charityand tOena￿e t￿rnt• ensure th•tthe fimncfjal Statl￿D￿tOrnp￿ wfth thE Charilie5 Att 2011. the a￿tea￿e(harlI*S IAccounts and Reportsl ReKulatlon5. and the prow5•Jnsolthe eo¥efningdocument. Thryare also responsible f 5afÈ8uardiwthe assetsolthe charityand hen￿ loriakm8 rta50naL4e s*ps fwthewthtntionand dete¢tsn dfraud arwj 0￿￿r￿r￿ula￿1le& TheTru5tees are resppn5ible lor t￿MIl￿tenal￿e3￿I intwiryolihe c￿rity￿￿￿ Inlofmaiion included on the¢harWs websfte 1Th￿CO￿￿e wilh ￿l$la1￿ In Ur*ted K*¢d iovernin8 the preparaiion di55eminatK)n offi￿r￿JaI 5talei￿t$. Trustee ## **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: - (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 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 4 5 ## **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**| 6 *XAfKESNIET 17aisTM*thW4 2fftJ T•iil Y4wiblea5*ts 713 117.wj 770.1 117, 54m4 24961 FUNDSOF7HEOIAAtri Umrestrttvdl￿ds Ruirthd 439.1 J9&120 1.561 72 th*rttlt5 Artioii. ## **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**| 8 **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. 9 ## **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) . 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 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. 11 ## **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. 12 ## **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) 13