Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
Charity registration number 1192681 (England and Wales)
BRITISH WEIGHT LIFTING FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
BRITISH WEIGHT LIFTING FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Charity Trustees | M F Curtain | |
|---|---|---|
| M R Martin | ||
| R Wainwright | (Appointed 7 October 2024) | |
| Charity number (England and Wales) | 1192681 | |
| Accountants | Affinia | |
| 3rd Floor | ||
| Chancery House | ||
| St Nicholas Way | ||
| Sutton | ||
| Surrey | ||
| SM1 1JB |
Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
BRITISH WEIGHT LIFTING FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Accountants' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 9 |
Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
BRITISH WEIGHT LIFTING FOUNDATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The charity trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 (FRS 102)".
Objectives and activities
(1) To promote the art and science of and education in lifting weights;
(2) To encourage and advance the education of children and adults within the community with the purpose of promoting a healthy lifestyle and improving their condition of life;
(3) To promote community involvement in healthy recreation by providing facilities for the lifting of weights and the playing of other sports and activities capable of improving physical health to such persons who have need for such facilities and to encourage and advance the education of such persons in order to allow them to develop to the best of their abilities, both physical and otherwise.
Public benefit
The charity trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
It has been a year of consolidation for the Charity. The trustees have been considering a number of initiatives and the Charity will launch its delivery strategy in 2025.
Financial review
The total income for the year was £280 (2024: £194) and expenditure totalled £41,340 (2024: £3,058) resulting in a net deficit for the year of £41,060 (2024: £2,864). The charity's unrestricted funds at 31 March 2025 amounted to £96,248 (2024: £137,308) which the trustees consider to be a good base from which to consider future applications for the charity's assistance despite it decreasing.
Going concern
At the time of signing these accounts in the opinion of the trustees there are no material uncertainties about the charity's ability to continue as a going concern.
Reserves policy
While the charity has no quantified reserves policy in place the Board considers that the level of reserves of the charity at the period end to be satisfactory.
The level of reserves is regularly reviewed by the trustees in the light of the governance and charitable commitments of the charity.
Structure, governance and management
The charity is controlled by its governing document, a deed of trust and constitutes a charitable incorporated organisation.
The charity trustees who served during the year and up to the date of signature of the financial statements were: M F Curtain
M R Martin N Wood (Resigned 7 October 2024) R Wainwright (Appointed 7 October 2024)
Recruitment and appointment of trustees
Trustees are appointed by the incumbent trustees and in accordance with the constitution of the charity. When appointing new trustees the incumbent trustees take into account that it is practicable to do so and that the new trustees will contribute to the skills and balance of the Board as a whole.
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Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
BRITISH WEIGHT LIFTING FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Organisational structure
Day to day management of the charity is undertaken by the Trustees who delegate to and monitor the performance of the volunteers as required in order to meet the charity's objectives.
The trustees' report was approved by the Board of Charity Trustees.
M R Martin Trustee
28 November 2025
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Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
BRITISH WEIGHT LIFTING FOUNDATION
ACCOUNTANTS' REPORT TO THE CHARITY TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRITISH WEIGHT LIFTING FOUNDATION FOR THE YEAR ENDED 31 MARCH 2025
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of British Weight Lifting Foundation for the year ended 31 March 2025, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
This report is made to the charity's charity trustees, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of British Weight Lifting Foundation and state those matters that we have agreed to state to the charity's charity trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than British Weight Lifting Foundation and the charity's charity trustees as a body, for our work or for this report.
It is your duty to ensure that British Weight Lifting Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of British Weight Lifting Foundation. You consider that British Weight Lifting Foundation is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of British Weight Lifting Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Affinia
Accountants 3rd Floor Chancery House St Nicholas Way Sutton Surrey SM1 1JB 28 November 2025
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Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
BRITISH WEIGHT LIFTING FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Investments | 3 | 280 | 194 |
| Total income | 280 | 194 | |
| Expenditure on: | |||
| Raising funds | 4 | 216 | 198 |
| Charitable activities | 5 | 41,124 | 2,860 |
| Total expenditure | 41,340 | 3,058 | |
| Net expenditure and movement in funds | (41,060) | (2,864) | |
| Reconciliation of funds: | |||
| Fund balances at 1 April 2024 | 137,308 | 140,172 | |
| Fund balances at 31 March 2025 | 96,248 | 137,308 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
BRITISH WEIGHT LIFTING FOUNDATION
BALANCE SHEET
AS AT 31 MARCH 2025
| 2025 Notes £ £ Current assets Cash at bank and in hand 140,954 Creditors: amounts falling due within one year 9 (44,706) Net current assets 96,248 The funds of the charity Unrestricted funds 10 96,248 96,248 The financial statements were approved by the charity trustees on 28 November 2025 M R Martin Trustee |
2024 £ 140,733 (3,425) |
£ 137,308 |
|---|---|---|
| 137,308 | ||
| 137,308 | ||
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Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
BRITISH WEIGHT LIFTING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
Charity information
British Weight Lifting Foundation is a charitable incorporated organisation registered in England.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the charity trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the charity trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the charity trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
BRITISH WEIGHT LIFTING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.7 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the charity trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
BRITISH WEIGHT LIFTING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
3 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Interest receivable | 280 | 194 |
4 Expenditure on raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Fundraising and publicity | ||
| Support costs | 216 | 198 |
| Expenditure on charitable activities | ||
| Expenditure | Expenditure | |
| 2025 | 2024 | |
| £ | £ | |
| Direct costs | ||
| Charitable project | 40,164 | - |
| Consultancy | - | 1,000 |
| Accountancy | 900 | 1,800 |
| Bank charges | 60 | 60 |
| 41,124 | 2,860 | |
| Analysis by fund | ||
| Unrestricted funds - general | 41,124 | 2,860 |
5 Expenditure on charitable activities
6 Charity Trustees
None of the charity trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7 Employees
The average monthly number of employees during the year was nil (2024: nil).
There were no employees whose annual remuneration was more than £60,000.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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Docusign Envelope ID: 0D9DDC89-6975-43B3-8CDB-F71D707129FD
BRITISH WEIGHT LIFTING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
9 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Other creditors Accruals and deferred income |
2025 £ 43,806 900 44,706 |
2024 £ 1,625 1,800 |
| 3,425 |
10 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 April 2024 | Incoming | Resources | At 31 March | |
|---|---|---|---|---|
| resources | expended | 2025 | ||
| £ | £ | £ | £ | |
| General funds | 137,308 | 280 | (41,340) | 96,248 |
| Previous year: | At 1 April 2023 | Incoming | Resources | At 31 March |
| resources | expended | 2024 | ||
| £ | £ | £ | £ | |
| General funds | 140,172 | 194 | (3,058) | 137,308 |
11 Related party transactions
At the year end, an amount of £43,806 (2024: £1,625) was owed by the charity to British Weight Lifters Association. Charitable expenditure during the year included £40,164 spent in purchasing education courses in line with the charity’s objectives.
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