WASPS CIO Annual Report & Accounts Year to 31[st] March 25
Group Information
Trustees Chairman Secretary Treasurer
Mr Ben Taylor Mr Dave Hewitt Mr Chris Paddon
Bankers
Charity Registration Number Contact Name & Address
Co-op Mr Dave Hewitt 14 Elswick Road Armstrong Washington Tyne and Wear NE37 1LH
Wasps CIO Trustees Report Year to 31[st] March 2025
The trustees have pleasure in presenting their annual report and financial statements for the year ended 31[st] March 2025.
Objectives of the Group
The Group was formed in April 2024 for the public benefit in Tyne and Wear and the surrounding areas:
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To help socially and economically disadvantaged young people aged between 8 and 19 years old and up to 25 where disabled or special educational needs are identified, by providing them with opportunities to participate in all forms and disciplines of air gun target shooting, so as to assist with developing their capabilities that they grow to full maturity as individuals and members of society.
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To provide opportunities for people with physical and mental disabilities to participate in competitive and non-competitive air gun target shooting in the interests of social welfare and with the object of improving the conditions of their life.
Organisation
The Group is managed by the trustees, who meet on a regular basis to discuss all aspects of day to day running. As charity trustees, they are responsible for complying with legislation applicable to charities. This includes the registration, keeping proper accounts and making returns to the Charity Commission as appropriate.
Risk and Internal Control
The trustees are responsible for identifying the major risks to which they believe the Group is exposed, these are reviewed and systems have been established to mitigate against them.
The Group has in place systems of internal controls that are designed to provide reasonable assurance against material mismanagement or loss and a comprehensive insurance policy to ensure that insurable risks are covered.
Public benefit statement
The Group meets the Charity Commission’s public benefit criteria under both the advancement of education and the advancement of citizenship or community development headings.
WASPS CIO Trustees Report (continued) Year to 31[st] March 2025
Review of activities and future developments (prepared by the treasurer)
This year we commenced our journey to set up WASPS CIO as a charitable organisation, supporting multiple groups across the region to have the opportunity to participate in precision sports.
In pursuit of these aims, the club was successful in securing a substantial grant from Sport England’s Movement Fund, totalling £9428, plus an additional £100 donation from WASPS club.
Funding has enabled the purchase of a wide range of equipment and a number of guns to encourage people from all backgrounds to be able to try shooting as a new activity without the need for an expensive outlay.
This year, we have purchased 3 target rifles, 2 target pistols, scopes, stands plus additional equipment to support the charity.
As part of our grant, we have utilised funds to run 9 sessions, which where free of charge for children and young people and for some of our many veterans looking for ways to support their recovery following active service in the armed forces.
We continue as a group to plan further sessions, ran on a free of charge basis to support the community groups identified
Reserves policy
As a charity, we do not have any overheads or continued running costs, therefore the trustees consider that the group should hold a minimal sum of £100.
Grant making policy
The Group does not have a policy in respect of making grants.
Investment policy
The Group does not have sufficient funds to invest in longer term investments. The Group has therefore adopted a risk averse strategy to the investment of its funds. All funds are held in cash using only mainstream banks or building societies.
Approval of the trustees’ report
Approved by the trustees on 01/12/2025 and signed on their behalf by:
Mr Dave Hewitt Secretary
Wasps CIO Receipts & Payments Account Year to 31[st] March 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Total Receipts for the Year | 9591.50 | 0.00 |
| Total Payments for the Year | (7860.95) | (0.00) |
| Net (Payments)/Receipts for the | 1730.55 | 0.00 |
| Year | ||
| Cash, Bank & Similar Funds C/Fwd | 1730.55 | 0.00 |
The above account and accompanying statement of assets and liabilities were approved by the Trustees on 01/12/2025 and signed on their behalf by:-
Mr Dave Hewitt Secretary
Mr Chris Paddon Treasurer
Wasps CIO Receipts
Year to 31[st] March 2025
| Donations, legacies and similar income Donations Sub Total Grants Sport England Sub Total Fundraising Various events Sub Total Activities Sale of Merchandise Sub Total TOTAL RECEIPTS FOR THE YEAR |
2025 £ 100.00 |
2024 £ 0.00 |
|---|---|---|
| 100.00 9428.00 |
0.00 0.00 |
|
| 9428.00 0.00 |
0.00 0.00 |
|
| 0.00 63.50 |
0.00 0.00 |
|
| 63.50 | 0.00 | |
| 9591.50 | 0.00 |
Wasps CIO Payments Year to 31[st] March 2025
| Equipment Rifles Pistols Other Sub Total Activities Rainge hire Sub Total Administration Stationary Sub Total TOTAL PAYMENTS FOR THE YEAR |
2025 £ 2499.00 785.00 3656.55 |
2024 £ 0.00 0.00 0.00 |
|---|---|---|
| 6940.55 900.00 |
0.00 0.00 |
|
| 900.00 20.40 |
0.00 0.00 |
|
| 20.40 | 0.00 | |
| 7860.95 | 0.00 |
Wasps CIO Statement of Assets & Liabilities Year to 31[st] March 2025
| Cash funds Co-op Bank Current Account Sub Total Non Monetary assets Rifles Pistols Other Equipment Sub Total Net Assets |
2025 £ 1730.35 |
2024 £ 0.00 |
|---|---|---|
| 1730.35 2000.00 600.00 2000.00 |
0.00 0.00 0.00 0.00 |
|
| 4600.00 | 0.00 | |
| 6330.35 | 0.00 |
Wasps CIO Notes to the 2024/25 Accounts
Accounting Policies
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Income shown in the Receipts and Payments Account is before deduction of any expenses.
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Non-monetary assets shown in the Statement of Assets & Liabilities have been given an estimated valuation by the trustees based on their knowledge of the assets involved and their age and condition.
Report to the Trustees of Wasps CIO
I report on the accounts of the Group for the year ended 31[st] March 2025.
This report is made solely to the trustees in accordance with Section 145 of the Charities Act 2011. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees for my work.
Respective responsibilities of trustees
The Group’s trustees are responsible for the preparation of the accounts. As we have not received over £25,000 in funds within this financial year, the accounts do not need to be independently reviewed.
Signed
Chris Paddon
Dated 01/12/2025