WEM SPORTS AND SOCL4L ASSOCIATION CIO ur4AUDITED ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Page 1. WEM SPORTS AND SOCIAL A SOCIATION CIO ANNUAL REPORT OF THE TRU TEES FOR THE YEAR ENDED 31ST MARCH 2024 l. Legal and Administrative Information Charity name.. Wem Sports and Social Association CIO, also knomm as Wem Sports and Social Association. The Charity is an association of affiliated sports clubs, recreational clubs, local authorities in¢luding Wem Town Council and interested individuais. Charity Commission Registered Number: 1181598 Financial year beginning ¢nding 1st April 2023 3 1st March 2024 Charitys principal address WSSA Wem Library High Street Wem Shropshire Governing document.. Constitution adopted [8th Ma￿h 2019 Objects: l. To promote th¢ benefit of the inhabitants of Wem and the neighbourhood without distinction of sex, sexual orientstion, race or of political, religious or other opÈnions by associating local authorities, voluntary and other organisations and iÉthabitants in a ¢ommon effort to provide facilities in the interest of social w¢lfare. recreation and leisure time occupation with the object of tmproving the conditions of lif¢ for the said itjhabitants. 2. To establish or to secure the establishment of a Sports Centre alld to maintain and to manag¢ or to cooperate with any local statutory authority tn the maintenance and management of such a centre for activities promoted by the CIO in furtherance of the above objects. Professional Advisers= Bankers Unity Trust Bank PO Box 7193 Planetay Raod Willenhall WVI 9DG Nationwide Bank Pipers Way Swindon Soliciiors Hatchers LLP Welsh Bridge l Frankwell Shrewsbury Independent Examiners Stubbs PaTkin South The Manse Dodington Whit¢hur¢h Shropshire SY13 IDZ Page la. WEM SPORTS AND SOCIAL ASSOCIATION CIO ANNUAL REPORT OF HE TRUSTEES FOR THE YEAR ENDKD 31sr MARCH 2024 CONTfNUED 2. Trustees and Governance Th¢ Charity TNstees durtng the year to 3 1st March 2023: Mr J A Walker Mr S Starkey Mr E Towers MTS M Meakin Mr R Drummond Mr R Barker Mrs S Griffiths Mrs W Ollerenshaw Chairman Vice Chairnian Appointed 13 June 2023 Appoint¢d 4 Sanuary 2024 A maximum of 9 Trustees can be appointed. Trustees are appoit&ted for a ￿rIOd of 3 years, and Wem Town Council may appoint up to three tsustees. Wem Town Council provide secretariat and tre&8urers services for ihe A5sociatiotS. The Charity's Custodian Trustee 15 Th¢ Official Custodian of Charities. 3. Activities and Achievements 3.1 Activities during the year Wem Sports and Social Association CIO is responsible for the management of land at the Butler Sports Centr¢ which ¢omprises of changing rooms, football stadium with seating and floodlights. (he land also includes 2 bowling green5 which are managed and mal￿tained by Wtrn Bowling Club. WSSA also martages W¢m Recreation Ground and leases out the bowliuR Rreen and tennis courts on the recreation RrowLd tt> the Albion Bowlin% Club During the year the Association has work¢d in pa￿ership with Wem Town Football club. to arrange the lease of a pl￿¢ of ground at the Butler sports Centre in order that th¢y catt have a club house. The football facilities whi¢h are primarily used as the ILom¢ ground for Wem Town Fth)tball Club are also 8Yailabl¢ to rent. On 14 March 2019 The ExecutiY¢ Committee approv¢d the following r¢solutions'. l. That the unillcorporatieil clwsry known as WEM SPORTS AND SOCIAL ASSOCtATION (registered Charity NuTnber 522583) should chang¢ its strucwre to a Charitable Incorporated Association by way of a merger of ttLe Charity with the newly incorporated CIO known as WEM SPORTS AND SOCLAL ASSOCIATION (registered Charity Number 1181598). 2. That the 8ssets and liabilities of the Charity be transferred to the CIO to be applied towards charitable pu4)oses for the benefit of the inhabitants of Wem and the neighbourhood. we￿ Sports and Social Association CIO began operations under dwity llumber 1181598 on l April 2019. Page 1b. WEM SP RTS AND S CIAL ASSOCIATION CIO ANNUAL R ORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 co TINUED 3.2 Fundralsing Tbe draw account is a Means of raising funds by a monthly draw. kny sU￿lUS 15 restricted for improviDg facilities and is used to help affiliated bodies with their capital proj¢ctS, OT on pemianent improvements to the facilities. Dursng the y¢ar the draw was ¢19sed. and all ￿tained moni¢5 were distributed to the various sporting clubs associated with the Associatioil. 3.3 Summary of Income 8nd Expenditure The c05t of maintaining the sports field and the various other areas for which the maintenance is delegated to the Association aTnount¢d to £14,958 befoT¢ the depreciation charge totalling £9,460. Depr¢ciation being a provision for future capital expenditUTe or replacement of the facilities. Total Income from all source5 was £41,323. For the year totil expenditure exceeded income by £4.767. Althoutsh the Association sufficient resgurces to mee¢ Èts day tts date operations, it 15 highly dependent on the grant from Wem Town Council to cover costs. Any major expenditure will place a strain on the cash flow. Over th¢ last 2 y¢ars reserves have fallen by £14,219. 3.4 Summary and Acknowledgements The a5so¢iatioTh has beeTh able to maintain its faciliti¢s even though total costs have more than exceeded receipts. This has been financed by previou5 yeaTS profits. In the long t¢mi thi5 is not sustainable. The Association has not sought to accumulate ￿ndS for any specific ￿tllre projects and it is collsidered that filnds are adequate to cover any reasonable emergency. The expenditur¢ on the maintenance and improY¢ment of the faciliti¢s is restricted by the ￿ndS available or to put it another way, what members and the Town Council are prepaTed its fmance and by what grant aid is available. Providing that the ￿11 support and f￿ancIal backittg of Wern Towi Council continues and that any expettditure on the facilities is restricted to the amount of fun(ts available, the overall finAncial position is CODsÈdered sound. 4. Polieies Th¢ policies ar¢ as follows- to ke¢p the standard of th¢ facilities under the eonstallt review and to restrict ¢xpenditure to within the level of funds available (see above) to use fi￿d5 reeeived from the former Social Club's conrributions. to fund extraordtn2ry exp¢nditur¢ on the changing rooms. Page 1c. WEM PORTS AND SOCIAL A IATION EO ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 3JST MARCH 2024 co TINUED to keep all funds fairly liquid and easily ac¢es5ible. Against thi5 backgrowid it is considered that there are no major risks to which the charity is exposed. S. StatemeDt of Tru5tees' responsibilities Charity LAW requires the Trustees to prepare ffftancial statements for each fmancial year which show a true and fair view of the state of affairs of ihe Charsty and its f]nancial activitie5 for that period. In preparing those financial statements, the ttust¢es are required to.. select suitable a¢¢ounting policie5 and then apply them consistently. make judgemenis and estimates that are re￿onable and prndent. stats whether applicable accounting standard5 and statements of recomtnended practice hlve bee followed. subject to any departures disGlosed and explained in the fmancial ststements. and prepare th¢ f￿anCIal statements on going concern basis unles5 It is inappropriate to presume ihat the Charity will continu¢ in operational existence. The Tn]stees are responsibl¢ for keeping proper accounting r¢cords which disclose with reasonable ￿l￿aCY at any time the f￿anCial position of the Charity and to eDable them to ensure that the fwancial statements comply with the ChaTities Act 2011. They are also responsible for safeguarditg the assets of the Chariry and hell￿ for taking reasonable steps for the prevettrion and d¢tection of fraud and other i￿¢gUlar1t1es. 6. Declarntlon I declare, that the Trustees have approved the report above and have authori5ed me to sign it on their behal£ U C-L4. Date.. Page 2. tNDEPENDENT EXAMINER'S REPORT TO THE TRU TEES OF WEM SPORTS AND SOCIAL ASSOCJATJON CIO FOR THE YEAR ENDED 31ST MARCH 2024 I report on the A¢counts of the T￿st for the year ended 3 1st Mar¢h 2024, which are set out on pages 3 to 8. Respective responsibilities of Trust¢￿ and Examiner As the Charitys Tn]stees you are responsible for the preparatitsn of the Accounts and you ¢onsider that the audit requirement of s¢ction144(2) of the Charitre5 Act 2011 (the 201 l Act) does not apply, and an Independent examination is needed . It is my responsibility to examine the accounts under 5¢Ction 145 of the 2011 A¢t- To follow the procedures laid down in the general Directions given by the Charity Commissio under secuon 145(5){b) of the 201 l Act-and to state whether particular matters have corne to our attention. Basis of Independent Examiner's report My eKaTt]ination was carried out in accordance with the General Dire¢tions giv¢n by the Charity Comtnissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the Accounts presented with those records. It also includes consideration of any unusual item or disclosures in the Accounts and seeking explanations from you as Trust¢es con¢emintr any such matters. Th¢ procedures undertaken do not provide all the evid¢nce that would b¢ required in an audit and cons¢quently no opinion is given as to whether the accovnts present a. true and fair view, and the report is limited to those matters set out in the Statement below. Independent Examiner's st4teJnent En CO[￿e¢tion with rny examination. no matter has com¢ to my attention.. l. Which gives me reasouable caus¢ to believe that in any material respect the requirements ¢0 keep accounting records in accordance with s￿tIon 130 of the 201 l Act,. and to prepare Accounts which accord with the acCOL￿tIng records aud to comply with accounting requirements of the 2011 Act have not been met. or 2. to whic}4 in my opinion, attention should be diawn in order to enable a proper understanding of the ounts to b reached. John Birt CA Stubbs Parkin South Charte ccountsnts alld Registered Auditors 2aL4- Date The Manse Dodington Whitchurch SY13 IDZ Page 3. WEM SPORTS AP4D SOCIAL ASSOCIATIO cio STATEMENT F FINANCIAL ACTIVITIES FOR THE YEAR ENDF.D 31ST MARCH 2024 Designated Fund$ GellerAI Fullds Notes Totgl 2023 INCOME AND EXPENDtTURE tNCOMfNG ￿SoURCEs Rent & Ftts Wem Town Q)uncil Fireworks & admission Sundry Income Investment Income TOTAL INCOfv 14,031 21,000 5.651 14.031 21,000 5,65 1 11,368 19,500 2,832 460 460 41.323 125 33,825 CHARITABLE ACTIVITIES Maint¢nance of Sports & Recreation Areas Changing Rooms Maintenan¢e F¥reworks Costs Draw Prtzes & Distribution5 Depreciation 14,958 13253 14,958 13.253 12.425 12,799 2,678 253 12.248 2,636 2.636 9,460 9.460 TOTAL 2,636 40.782 43,418 40,403 OTHER EXPBNDITURE Administration Costs Orher Expellse5 TOTAL 2,672 2.672 2,874 2.672 2,874 TOTAL EXPENDITURE NEf ( EXPENDITUREytNCOME FOR THE YEAR Transfer between Funds Balance Broyght forward Fund Balances Carried forward 43.454 2,636) ( 2.131) 46,090 4,767) 43.277 9.452) 2,636 116.019 113,888 118,655 113.888 128.107 118,655 Page 4. WEM SPORTS AND SOCIAL ASSOCIA TION CIO BALANCE HEET AS AT 31ST MARCH 2024 21124 2023 Notes FIXED ASSETS Freehold ￿OpertY Leashold Property Plant & Machinery TOTAL FIXED ASSETS 7,750 28.759 16,102 52,611 7,750 31.957 22,364 CURRENf ASSETS Sundry Debtors & Prepayments in Advan¢e Balances at Bank. Deposit Accounts CuTr¢nt Accounts TOTAL CURRENf ASSETS 739 1,664 42.744 18,519 62,002 23.214 32,366 57.244 CURRE￿ LIABILITIES Creditors & AccNal$ 725 660 NET CURRENf ASSETS 61,277 56,584 NET ASSETS 113,888 118,655 LfNRESTRtcrED tNCOME FUNDS Gen¢rnl Purpose Fund.. EMR Beacon EMR Equipment Fund EMR Building Fund EfvtR Albion Bowling Club Fund Unallocated General Putpose Fund 519 18,810 22.416 538 71.605 113,888 519 17,838 22.416 538 74.708 116,019 Designk¢ed Funds.. Draw Aw)uttt 2.636 118,655 TOTAL 113 888 Approved by the Board of Trustees and Signed on its behalf by: . Trustee . Date Page 5 WEM SPORTS AND SOCIAL ASSOCIATION CIO NOTES TO THE ACCOU S FOR THE YEAR ENDED 31ST MARCH 2024 l. ActoiJtLting Policies General The accouThts have been prepared on the historic cost conventioTh with exception that investments are valued at market value. The accounts ar¢ in accordance with applicable accounting standards, the Charities SORP 2005 (Accounting and Reporting by Chtirities) and comply with the Charities (Accounts and lieports) Regulations issued under the Charities Act 2011 Depreciation Depreciation 15 provided on the leasehold propety and plant and machinery at the following rates bas¢d on the estimated useful life of these r￿ed assets and th¢ir aThticipated residual value.. L¢a5ehold property consisting of Club Building, Changing Rooms, Sportsfield, Bowling greens and enolosed Play Surfac¢ IOD/o (reducing balance basis} Plant and machinery 280/• (r¢ducing balance basis} 2. Fixed Assets Used by the Charity Fre¢hold Property Leasehold Property Machinery & Plant Total Net Book Value @ 01.04.23 Additions Disposals Sub Total Depreciation for the year Net Book Value @ 31.03.24 7,750 31,957 22,364 62,071 7,750 31,957 3,198 28,759 22.364 6,262 16,102 62.071 9,460 52,611 7,750 3. Summary of Net Assets by Funds Unrestricted Funds Total General Pllrposes Designat¢d Fixed Assets Net cU￿¢￿t Assets Net Assets 52,611 52,611 61.277 13.888 2.636 2.636 111,252 4. Rents & Fees 2024 2023 Paid by Clubs Received from hiring out facilities Provision of services (Wayl¢av¢, garagin& advertisin& etc) Total 1,600 12,379 52 805 10.511 52 14,031 11.368 Page 8. WEM SPORTS AND SOCtAL ASSOCIATION CIO NOTES T THE ACCOUNTS FOR THE YEAR KNDED 31ST MARCH 2024 5. maintena￿¢t of Sports & Recreation Areas 2024 2023 Machinery & Equipment Costs Contractors & Mat¢rial Costs Total 11791 3167 4300 8125 12425 6. Changing Room ma[nte[￿lce 2024 2023 Heat, Light and Water Cleaning Rat¢s Repairs & Renewals Statutory checks Total 3897 1663 146 4546 3001 13,253 3,719 2,238 550 3,858 2,434 12,799 7. Management & Administration of the Charity 2024 2023 Insurance and Licences Accountant'5 Independent Examination Fee Sundry expenses Total 2063 500 109 2,672 1899 460 515 2874 Page 7. WEM SPORT AND SOCIAL ASSOCIATION CIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 T MARCH 2024 8. Prize Drdw 2024 2023 Monthly Draw Subscriptions Bank Interest Gross Income less.. Draw Prizes and expenses Distribulion5 to sporting bodies (Deficity Surylus for the Year 253) 2,636 2,636 253 9 Designated Accounts A¢¢ount Balance at 01.04.23 In¢ome OutgoiDgs Balance at 31.03.24 Represented by.. Current Account Deposit Account 2.636 2,636) 10. Employee R¢￿Unerallo￿ Toial remuneration (excluding employerfs contributions) for the y¢ar amounted to £NIL. No employee earned £60,000 or mor¢ during the year. I l. Tnjstee Expen No Tnjstee received or 1$ due to receiv¢ any remunerdtion for the year directly or indirectly from the Charitys fiu)ds.