2023-10-23-accounts - Kidsgrove Sports Centre Community Group

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Charity registration number: 1175301

Kidsgrove Sports Centre Community Group (CIO)

Annual Report and Financial Statements for the Year Ended 23 October 2023

Daryl Denson ACMA The Dudson Centre Hope Street Hanley Stoke-on-Trent ST1 5DD

Kidsgrove Sports Centre Community Group (CIO)

Contents (continued)

Reference and Administrative Details	1
Trustees' Report	2 to 4
Independent Examiner's Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8 to 18

Kidsgrove Sports Centre Community Group (CIO)

Reference and Administrative Details

Trustees Mark Clews Kerry Thomas Ray Williams David Rigby Natalia Stothard Gillian Burnett Charity Registration Number 1175301 Principal Office Fourth Avenue Kidsgrove Staffordshire ST7 1DR Independent Examiner Daryl Denson ACMA The Dudson Centre Hope Street Hanley Stoke-on-Trent ST1 5DD Bankers Barclays Bank Kidsgrove Branch Lloyds Bank Tunstall Branch

Page 1

Kidsgrove Sports Centre Community Group (CIO)

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 23 October 2023.

Objectives and activities

Objects and aims

The objects of the CIO is for the public benefit to provide facilities for recreation, advancement of amateur sports and other leisure-time occupation in the interests of social welfare with the object of improving the conditions of life for the communities of Kidsgrove and surrounding areas within North Staffordshire and South Cheshire.

Kidsgrove Sports Centre CIO took over the running of the Centre in July 2022 after working for 5 years to reopen the Centre. Two years on since opening we are becoming well established and having an increasingly positive impact on the people who use the service. We have further planned to develop the services offered, the opportunities offered to staff and the reduction in our energy usage which will make for a busy third year.

Objectives, strategies and activities

The management and staff team has continued to build on the charity's core leisure and recreational activities, and there has been a marked increase in income generated compared to year 1 of opening. The swimming lesson program has grown, and further staff are to complete their teacher qualifications in year 3. The gym membership and class program continue to grow. Sports hall activities have increased, seeing an increase in clubs using the space for their practice session, including winter training. Barclays have a community bank operating three days per week in the centre.

Public benefit

All of our charitable activities are focused on furthering our charitable objectives for the public benefit of the local community.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Achievements and performance

Provided gym services to over 1400 people Provided approximately 35 Fitness classes per week Provided family fun swims on weekends Hosted annual anniversary fun day Provided swimming lessons for over 600 children Secured funding for a cafe Successful in securing funding to help cost of energy bills from Sport England Provided 3 training contracts for apprentices

Financial review

Total incoming resources amounted to £850,953 Total resources expended amounted to £691,524

Page 2

Kidsgrove Sports Centre Community Group (CIO)

Trustees' Report (continued)

Policy on reserves

Kidsgrove Sports Centre Community Group (CIO) will hold a level of reserves which allows it to deliver its agreed charitable aims over the course of a financial year and in addition to this will retain a prudent level of contingency funding to cover unexpected costs as they arise. This statement has also been considered considering the organisation being a new start up. Kidsgrove Sports Centre Community Group (CIO) will set a prudent annual budget, linked to the anticipated revenues, costs and realistic demands for the year ahead. In the first year of operation the organisation will have minimal reserves, whilst it becomes operational and building up the reserves to the anticipated levels within this document.

The Kidsgrove Sports Centre Community Group will aim to set aside reserves of the following % of revenue. Year 0 - £0 reserves as we are a start up Year 1 - 1% of annual revenue Year 2 - 3% of annual revenue Year 3 - 5% of annual revenue Year 4 - 7% of annual revenue Year 5 - onwards - 10% of annual revenue The current level of free reserves available to the charity is �451,477 (2022: £292,048) Please refer to the financial information contained on the pages below.

Plans for future periods

Aims and key objectives for future periods

The initial priority for 23/24 is to invest in energy saving such as solar and CHP to reduce our carbon footprint and reduce our energy costs.

We are also expecting to review and plan to develop aditional car parking opportunities on site in 23/24. The plan is to widen the offer to the community, open the cafe and develop further opportunities for the local community.

Work with partners and community groups within the local area to improve the leisure provision and grass roots sports. Develop further opportunities for health referral.

Maintaining a safe environment both for the employees and those attending the facility.

Structure, governance and management

Nature of governing document

The charity was registered as a Charitable Incorporated Organisation on 23 October 2017 the Kidsgrove Sports Centre Community Group (CIO) Governance is within accordance with the conditions set out within the founding constitution, amended 3 July 2023.

Details of the trustees and specific organisational roles are listed above.

There have been no changes to the Governance during this reporting period.

Page 3

Kidsgrove Sports Centre Community Group (CIO)

Trustees' Report (continued)

Recruitment and appointment of trustees

Trustees are selected following a search, advertising on the website and personal recommendation. They meet with at least two existing Trustees. It is the intention of the charity to have Trustees who have a strong interest in encouraging wide community participation for health and leisure purposes, and an appreciation of the governance role. The policy is to have a strong, gender diverse trustee board with a range of experience and skills. We are currently actively recruiting new Trustees especially seeking those with skills or knowledge in: • Health

Education
Health and Safety
Governance
Community Engagement
Fundraising and Grants
Finance

Major risks and management of those risks

General Risk Policy

The Trustees regularly review all areas of activities to identify risks to the charity and potential risk areas. These include health and safety, operational and human risks, and reputational and financial risks.

The annual report was approved by the trustees of the charity on ...08/08/2024.......... and signed on its behalf by:

......................................... David Rigby Trustee

Page 4

Kidsgrove Sports Centre Community Group (CIO)

Independent Examiner's Report to the trustees of Kidsgrove Sports Centre Community Group (CIO)

I report to the trustees on my examination of the accounts of Kidsgrove Sports Centre Community Group (CIO) for the year ended 23 October 2023.

Responsibilities and basis of report

As the charity trustees of Kidsgrove Sports Centre Community Group (CIO) 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 Kidsgrove Sports Centre Community Group (CIO)'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

Since Kidsgrove Sports Centre Community Group (CIO)'s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.

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:

accounting records were not kept in respect of Kidsgrove Sports Centre Community Group (CIO) as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

......................................

Daryl Denson ACMA

The Dudson Centre Hope Street Hanley Stoke-on-Trent ST1 5DD

Date:....13/08/2024..................

Page 5

Kidsgrove Sports Centre Community Group (CIO)

Statement of Financial Activities for the Year Ended 23 October 2023

Income and Endowments from: Donations and legacies Other trading activities Investment income Total income Expenditure on: Raising funds - direct costs Raising finds - support costs Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward Note Income and Endowments from: Donations and legacies Other trading activities Investment income 4 Total income Expenditure on: Raising funds - direct costs Raising finds - support costs Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18	Note 4 18 Unrestricted funds £ 214,753 185,522 25 400,300 (106,843) (21,394) (128,237) 272,063 272,063 19,985 292,048	Unrestricted funds £ 22,089 827,847 1,017 850,953 (435,583) (255,941) (691,524) 159,429 159,429 292,048 451,477 Restricted funds £ 9,270 - - 9,270 (9,270) - (9,270) - - - -	Total 2023 £ 22,089 827,847 1,017
			850,953
			(435,583) (255,941)
			(691,524)
			159,429
			159,429 292,048
			451,477
			Total 2022 £ 224,023 185,522 25
			409,570
			(116,113) (21,394)
			(137,507)
			272,063
			272,063 19,985
			292,048

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 18.

The notes on pages 8 to 18 form an integral part of these financial statements. Page 6

Kidsgrove Sports Centre Community Group (CIO)

(Registration number: 1175301) Balance Sheet as at 23 October 2023

Note Fixed assets Tangible assets 12 Current assets Stocks 13 Debtors 14 Cash at bank and in hand 15 Creditors: Amounts falling due within one year 16 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 17 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 18	2023 £ 223,725 - 18,074 347,183 365,257 (34,588) 330,669 554,394 (102,917) 451,477 451,477 451,477	2022 £ 227,649 1,935 31,917 170,661
		204,513 (10,114)
		194,399
		422,048 (130,000)
		292,048
		292,048
		292,048

The financial statements on pages 6 to 18 were approved by the trustees, and authorised for issue on .....08/08/2024....... and signed on their behalf by:

......................................... David Rigby Trustee

The notes on pages 8 to 18 form an integral part of these financial statements. Page 7

Kidsgrove Sports Centre Community Group (CIO)

Notes to the Financial Statements for the Year Ended 23 October 2023

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Kidsgrove Sports Centre Community Group (CIO) meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £1,000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Sporting Equipment	Straight Line 10 years
Office Equipment	Straight Line 4 years
Computer Equipment	Straight Line 4 years

Page 8

Kidsgrove Sports Centre Community Group (CIO)

Notes to the Financial Statements for the Year Ended 23 October 2023 (continued)

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Page 9

Kidsgrove Sports Centre Community Group (CIO)

Notes to the Financial Statements for the Year Ended 23 October 2023 (continued)

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2 Income from donations and legacies

Donations and legacies; Donations to major appeals Grants, including capital grants; Grants from other charities Donations and legacies; Donations to major appeals Donations from companies, trusts and similar proceeds Donations from individuals Gift aid reclaimed Grants, including capital grants; Government grants Grants from other charities	Unrestricted funds General £ 23,133 66,817 14,197 2,140 78,396 30,070 214,753	Unrestricted funds General £ 3,870 18,219 22,089 Restricted funds £ - - - - 9,270 - 9,270	Total 2023 £ 3,870 18,219
			22,089
			Total 2022 £ 23,133 66,817 14,197 2,140 87,666 30,070
			224,023

Page 10

Kidsgrove Sports Centre Community Group (CIO)

Notes to the Financial Statements for the Year Ended 23 October 2023 (continued)

3 Income from other trading activities

Trading income; Vending machine sales Sales of goods and services Swimming Leasons/Pool Hire Membership subscriptions Direct marketing income Sports hall/gym/room hire Trading income; Vending machine sales Sales of goods and services Advertising revenue Membership subscriptions Direct marketing income Sports hall/gym/room hire 4 Investment income Interest receivable and similar income; Interest receivable on bank deposits Interest receivable and similar income; Interest receivable on bank deposits	Unrestricted funds General £ 14,756 82,154 78,955 471,107 155,677 25,198 827,847 Unrestricted funds General £ 3,147 15,469 417 133,917 28,514 4,058 185,522 Unrestricted funds General £ 1,017 1,017 Unrestricted funds General £ 25 25	Total 2023 £ 14,756 82,154 78,955 471,107 155,677 25,198
		827,847
		Total 2022 £ 3,147 15,469 417 133,917 28,514 4,058
		185,522
		Total 2023 £ 1,017
		1,017
		Total 2022 £ 25
		25

Page 11

Kidsgrove Sports Centre Community Group (CIO)

Notes to the Financial Statements for the Year Ended 23 October 2023 (continued)

5 Raising funds direct costs

a) Costs of trading activities

Costs of goods sold Marketing and publicity Depreciation, amortisation and other similar costs Other direct costs of activities for generating funds Staff costs Note Costs of goods sold Legal fees Marketing and publicity Depreciation, amortisation and other similar costs Other direct costs of activities for generating funds	Note Unrestricted funds General £ 3,765 3,208 5,498 9,256 4,999 26,726	Unrestricted funds General £ 12,391 2,447 23,524 48,910 348,311 435,583 Restricted funds £ - - - - 9,270 9,270	Total 2023 £ 12,391 2,447 23,524 48,910 348,311
			435,583
			Total 2022 £ 3,765 3,208 5,498 9,256 14,269
			35,996

Page 12

Kidsgrove Sports Centre Community Group (CIO)

Notes to the Financial Statements for the Year Ended 23 October 2023 (continued)

6 Raising funds support costs

Audit and accountancy Management consultancy Postage Admin Expenses Insurance Interest Light, heat and power Water Operating lease Printing and stationery IT Repairs and Maintenance Uniforms Subscriptions Telephone and internet Bank fees Governance costs Staff training Note Audit & Accountancy fees Charitable and Political Donations Entertainment - 0% Postage, Freight & Courier Admin expenses Insurance Interest Paid Light, Power, Heating Water bill Operating Lease Payments Printing & Stationery IT Software and Consumables Repairs & Maintenance	Unrestricted funds General £ 3,305 3,750 745 3,501 8,391 7,389 168,094 6,698 2,719 1,152 5,508 9,933 5,280 408 1,639 18,602 2,220 6,607 255,941 Unrestricted funds General £ 195 250 20 11 150 1,353 7,390 1,334 76 1,498 104 151 1,489	Total 2023 £ 3,305 3,750 745 3,501 8,391 7,389 168,094 6,698 2,719 1,152 5,508 9,933 5,280 408 1,639 18,602 2,220 6,607
		255,941
		Total 2022 £ 195 250 20 11 150 1,353 7,390 1,334 76 1,498 104 151 1,489

Page 13

Kidsgrove Sports Centre Community Group (CIO)

Notes to the Financial Statements for the Year Ended 23 October 2023 (continued)

Note Uniforms Subscriptions Telephone & Internet Health & Safety Expenses Governance costs	Unrestricted funds General £ 1,413 661 247 2,046 1,206 1,800 21,394	Total 2022 £ 1,413 661 247 2,046 1,206 1,800
		21,394

7 Analysis of governance and support costs

Governance costs

Independent examiner fees Examination of the financial statements Independent examiner fees Examination of the financial statements	Unrestricted funds General £ 2,220 2,220 Unrestricted funds General £ 1,800 1,800	Total 2023 £ 2,220
		2,220
		Total 2022 £ 1,800
		1,800

8 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

9 Staff costs

The aggregate payroll costs were as follows:

Page 14

Kidsgrove Sports Centre Community Group (CIO)

Notes to the Financial Statements for the Year Ended 23 October 2023 (continued)

Staff costs during the year were: Wages and salaries Social security costs Pension costs The monthly average number of persons (including senior management / charity during the year was as follows: Direct Staff No employee received emoluments of more than £60,000 during the year 10 Independent examiner's remuneration Examination of the financial statements	2023 £ 2022 £ 327,545 78,034 13,566 303 7,200 1,780 348,311 80,117 leadership team) employed by the 2023 No 2022 No 31 6 2023 £ 2022 £ 2,220 1,800	2022 £ 78,034 303 1,780
		80,117
		2022 £ 1,800

Page 15

Kidsgrove Sports Centre Community Group (CIO)

Notes to the Financial Statements for the Year Ended 23 October 2023 (continued)

11 Taxation

The charity is a registered charity and is therefore exempt from taxation.

12 Tangible fixed assets

Computer equipment £ 6,776 6,059	Sports Equipment £ 218,591 2,838	Total £ 236,906 19,600 256,506 9,257 23,524 32,781 223,725 227,649 2022 £ 1,935
12,835	221,429
1,198 2,601	7,463 19,667
3,799	27,130
9,036	194,299
5,578	211,128
	2023 £ - 2023 £ 13,122 14,779 (9,827) 18,074 2023 £ - 347,183 347,183
		2022 £ 103 24,877 6,937
		31,917
		2022 £ 235 170,426
		170,661

Page 16

Kidsgrove Sports Centre Community Group (CIO)

Notes to the Financial Statements for the Year Ended 23 October 2023 (continued)

16 Creditors: amounts falling due within one year

Trade creditors Accruals 17 Creditors: amounts falling due after one year Other loans 18 Funds Balance at 24 October 2022 £ Unrestricted funds *General* General Fund 292,048 Balance at 24 October 2021 £ Unrestricted funds *General* General Fund 19,985 Restricted Big Lottery - Total funds 19,985	Incoming resources £ 850,953 Incoming resources £ 400,300 9,270 409,570	2023 £ 36,438 (1,850) 34,588 2023 £ 102,917 Resources expended £ (691,524) Resources expended £ (128,237) (9,270) (137,507)	2022 £ 8,314 1,800
			10,114
			2022 £ 130,000
			Balance at 23 October 2023 £ 451,477
			Balance at 23 October 2022 £ 292,048 -
			292,048

Page 17

Kidsgrove Sports Centre Community Group (CIO)

Notes to the Financial Statements for the Year Ended 23 October 2023 (continued)

19 Analysis of net assets between funds

Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets	Unrestricted funds General £ 224,295 365,257 (36,348) (101,067) 452,137 Unrestricted funds General £ 227,649 197,576 (3,177) (130,000) 292,048	Total funds at 23 October 2023 £ 224,295 365,257 (36,348) (101,067)
		452,137
		Total funds at 23 October 2022 £ 227,649 197,576 (3,177) (130,000)
		292,048

20 Related party transactions

There were no related party transactions in the year.

Page 18