Charlty reglslfatlon numbgr 265498 (England and Walosl Company reglstration number 01059490 THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Royal Patron Hèr Royal Htghness The Duchess of Edinburoh Patrons The Countess of Wesltnoiland MrAdeAdepitan MBE Mr Krls Avtrs Mi Davld Barn911 Mrs Timothy ChrislSe Mr Pelef Gossag Baroness T&Ani Gr8y.Thompson DBE DL Mr Roger Jefcoalg CBE DL Pre$ldgnl The Hon. Mis Mark Vesley Lile Vlre Presidgnl Mr Kevan BakerO8E Mrs Eva Loeffler OBE Vice-Presldents Miss Sally Haynes MBE Mr Glyn Hibbert Mr Mafk Jarrad Mrs Eva Loefflèr OBE Mr David Skinner Mr Ernie Guild MBE Chalr of Trust8&s Mr Robert Wilson Vlce Chalr and Senior Independent Trustee Mr Robin Cgufage MBE Truste0$ Ms Pauline Belteiidg& Mrs Shun8 8ody MBE Mr Robin Couragè MBE Mr Tony Garfell Ms DebDrah Hodge Mr Nigel Roberis Mr Chrislophgr Scott OBE Mr Robert Wilson iss Susan Wolslenholme OBE Lord Stewart Jamès Jackson Mr RichBifl Land rs Janelle Wynn IAppoinled 5 May 20241 (Appoiftled 15 Oclobor 20241 (Appointed 4 February 20251 Secretary Mr Martin McElhatton OBE Chief Ex$¢ullve Mr M&rtln McElhatton OBE Charily number 265498 Company number 01059490 THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Registeréd office Stoke Mandeville Stadium Gullmann Road Stoke Mandgville Bucklnghamshlre HP219PP THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED CONTENTS Page Slalemenl from Ihe Pr8sidènl Chairman's Slaloment Chlèf Executive Overview Trustees, Report 5-12 Independent Audllorfs Rèport 13-15 Slalèmènl of Flnanclal Activities 16 Balance Sheet 17 Slalemenl DI Cash Flows 18 Noles lo Ihg Flnanclal Slalernenls THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED STATEMENT FROM THE PRESIDENT FOR THE YEAR ENDED 31 MARCH 2025 Presldenls Statement Thls year has been on@ of r8markable progress, c8lebralion, and rgnpwed purpos8 lor WheelPow8r. We have continued lo d8liver exceptional oppc>rtunilies for dlsabled pec>plè lo discover the Iransformallve power of movement, aclivSty and sport whelher through trying an activity lor the very first lime or pursuing Ihelr Ghosen sport al the highest lev81. A true hlghllghl was wèlcoming Thelr Fioyal Highnesses, Thp Duke and Duchess of Edinburgh lo Sloke Mandgville Sladiutn al such a pivotal lime In our charlty's hislory. 11 was inspirin9 to s8e Thelr Royal Highnesses engaging so wafmly with parlicipanls. even taking part in the sports themselves. We were thfi11gd lo announce Ihal Hei Royal Highn9ss The Duchess of Edinburgh has become our llBW Royal Palror) and afe exci16d lo work olosely with Her Royal Highness, lo help us broaLlen our reach, devélop n8w programmes, and 9nable even mDre disabled people lo live a¢liv8 Iivès-bolh al our historic home al Stoke Mandeville Stadium and across the country. We aTe deeply grateful lo our lorm8r Royal Patron. His Majesty King Charles 111. for his important contribution during his lime as Prince ol Wales, Including reopening our redevèlopÉd facilities in 2003. Looking ahead. Whe2lPower has ambitious plans lo furthèr devalop Sloke Mandeville Sladium. and we look forward lo shafing exciting d818ils in the coming yeaf. The legacy of the Paris 2024 Paralympic Games continues lo in5plrg us 811. The exlraordinary p&rformancos we wiln&ssed nDI only celebrated sportlng excellence bul also ¥8rninded us of th8 vital role sport plays Sn Improving quality of lile. Al a lime when disabled pÈopl& r8main 50% less likely lo be acllve than nDn-dlsabled p80pl8, our mission has nov8r been more important. This year also marked the 35th annlveis8ry ol our flagship Inter Spinal Unil Games a leslamenl lo thè anduring impact of bringing people logelher through sport. Across the country and online, Ihrough our rehabllilalion programmes and community oulreach, we h8va s&on sporl connect afid empowèr disabled people in ways that ar8 Iruly lile-changing. My heartfelt thanks go lo our donors, volunteers. staff. Trustees. and our excepliDnally dedicaled Chalrman. Rob Wilson. Together. you make this exlraorflinary work possible. With your conlinued support, we will builrl on this mDmer)lum. ensufing that many more disabled peopl8 car) expgrience the joy. friendship, and wellbeing that sport brings. With warmest wishes for the year ah8ad. The Hon Mrs Mark Vesley Presldent, WheelPower THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 Tho past year ha8 been one ol significant progfess foT ￿ee1Power as we continue lo deliver on our Mtsving Forward Together strategy- ensuring more dlsable¢S people hav8 the OPPOTiunlly lo move more, be active. and enjoy spcKt. Fiom vibranl commvnily Sports Festivals across the country including in Sheffield and Salisbury, and on to our agship Inter Splnal Unit Games marking ils 35th anniversary. we have reached Ilousands ol disabled p80ple across Ihe UK with life-changlng opportunllles lo participate, Bul11 musl always be our Bmbilion lo do more, lo provide moTe SPQTb'ng opportunilles across a wider geographical, whilsl improvlng stadium faoililies- thls will be our challenge ovor the next few years and as ch81rman I welcome il. hal beller than the legacy ol the Pafis 2024 Paralympic Games lo act as molivallon 8nd 8S 8 powerful sourc8 of Inspirallon. We conllnuo lo be immensely proud of the more Ihan 60 alhleles u)nnecled lo Whe8lPower, either through our programrnes or Sloke Man¢Jevllle Stadium, who compgled In Paris. We ¢ongralulale the Paralymplc5G8 team who won an incredible 124 medals. Their a¢hiev¢menls remind us not only ol the helghls Ihal can ba rèached In sport, bul also DI the Iransformalive impact partlclp81ion can have al every level. A highlight this year was welcoming Their Royal Highnesses. The Duke and Ouch85s of Edinburgh, lo Stoke M8ndevlll@ Stadium. Th8 gu¢hess's appolnlmenl as OUF new Royal Palron is an exciting new Chapter for WheelPower, and hèr warm engagement with pa￿CIpanIS w88 matched by her Énlhu5iasm lo help us @xlend Dur reach and deepen our impact. We remain deeply grateful lo His Majesty The King for hls longstanding support 0$ our former Royal Falfon. 11 was excilino lo report Ihal our (Jevelopmenl plan5 for Stoke Mandeville Stadium have adv8need ¢onsider8bly over the past year and we expect lo finalise our development Maslerplan In Ihe final quarter 012025. 11 wlll cotnknnè enhanced 8POrting provision, Conlinulng lo focus on disabled 8POrting opportunlll8s, wlth vital worfd class rehabllllalion seTvi¢es. This strategy was sel out In our vadous do¢vmenls and vlslon forWheelP¢)wer Stoke Mandeville Stadium over the past number of yea￿. Our role as the cuslodlans ol this hlslorlc sile and ils herilBgB Is a responsibl￿tY w8 lakè particul8dy serIous￿, ba18rhclng the care of e￿stIng la¢ililles, managed expertty by Mofe L8lsure Communily Trvsl alld Serco Leisure, with ambilious plans for the lulure alongside celebrating our history. We look foMar(I lo hosting the P818lympiG Flame Llghllng Ceremony forlhe Mllan Cortlna 2026 W5nler Pafalymplc Games noxl year. Governancè and tfansparen¢y remain an imporfanl part of ourwork, We continue lo meet all legal, choritoble. and company obligations, whlle upholdino the Code for Sporfs Governance and the standards of the Fundi818inG Regul8lor. We have slrenglhened our saleguardlng measures and Em15y Weller, ovr Head of Sport and Physical Activity has taken on the important role as our Safeguardlng Lead. We progressèd our Suslainabilily Plan. and. as a Disabilily Confident employer, remain commilled lo crèaling an indusivè working environrnenl. Our partneFshlps, with Sport England as a System Partner. IheAcllvily Alllance. fellow National Dlsabllily Sports Organi581ions. and numerous ¥egional and cotnrllunily partn915 remain key lotockling Ihe persisienl inequalili89 dSsabled people face in acc8ssing sport. This y8or, our reach has been amplified by nalional and reglonal media covgrage. and through our own glowing soci81 media pres8nce, rncluding persr)nal updates I've shared lo highlight key rnomenls. celebrat8 volunleers. and showcase Ihe differencB VVheelPowo1 makes. Financially, Ihe environrnenl rernains challenging. Wg Worked hard lo sustain income levels and invesl In our progiammes, and although we used some reserves to SLWPOrt dèlivBry. we have conlinued lo explore new and Snnovalive income slroams to ènsure future r8sllience. However. no chaF5ty can conlinuè lo make loses on an ongolnu basis, SD1118 essenlial we are successful with our ¥agenernlion ol th6 stadium as this will bring fiew commeiclal opportunities and income as well a8 bellèr facilities. Therè may well be hard choices Ihal WheelPower Tru$lees will need lo m8k8 9s part ol this. Speaklng of whom, I want Io gIV8 heartfelt thanks lo our Trustees, espgdally those newly appointed thi6 yearwho have brought Iresh $kn'115 and peTspeclives. The lime and support Ihey give i¥ magnlficenl and much appreciated. The same goes lor our exceptional staff team, our dedicated volunleer&, and all our donors, palron8, and parlngrs. Your comblned efforts ensure that WheelPower conllnues to insplfe, enable, and doliver for disabled people acro88 the UK. AS we look ahead, our purpose is clear. We ￿1[ continue lo drive fO￿ard OLtr $lialegy, build on the clear momentum of this year, Bnd work lo ensure that many more disabled people can 8xperl8nce the loy. friendship. and Ilbeing Ihal sport brings, Mr Robert Wllson ChBimian THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED OVERVIEW BY THE CHIEF EXECUTIVE FOR THE YEAR ENDED 31 MARCH 2025 WheelPower exists to remove bairier8 and open doors empow8rlng dlsabled pgople lo move, b8 8cIIv8. and enjoy Ihe b&neli1s of 5porl. Over lh8 past year. we have leached moro people. bulll stronger partnerships, and iJge(I th8 power ol our h8rilage and the Paralympics lo Insplre aclk)n and Incluslon. Our stratagy Movlng Forward Togalhgr focusgs on four key oulcomBs - Reach. Partnershlps, Rosources, and Insplratlon . and thls year each has dellvered langlbla results. Why Our Work Matters Sport Englond's lalesl data shows that 43Y• of dlsabl&d adults ere physlcally Inactlve, compared with 23Qh of non-disabled adults. For people with wnulliplg impairments, inaclivily rises lo 51Y•. The Activity Alliance S￿￿eY tells us that whilè 80010 tsf disabled people want to be more actlvo, only 5lQh f881 Ihoy hav6 the opportunity. Barriers pèrsist financial pr8ssures, lack of conlid6nce, gendei inequalily. and limited access lo Inclusive opportunities. Yel. when disabl$d p8ople can participale, anjoymenl soars. Thes8 findings fuel our delermiftalion lo deliver change. Expandlng Our Reach In 2024-25 we 8ngaged more dlsabled people than ever-onlln&, face.lo-fac8, and In Splnal Units across the counlry.. Exerclse at Home-. Three weekly live online classes in fitness, yoga, dance, box-fil. and lai chi plus on-demand conlenl genaralad 18.T17 exercise fllm vlews, 28,389 wheelohalr rnalnlenance film vlews. and 1.074 Ilve altendances. Website engagement.. 69,375 vlslls, with 2,458 dlrect referrals lo sports opportunities. Splnal unll outroa¢h'. 3,587 rehabililalion 5ession5 co.design8d with NHS pailntsrs, delivered across six spinal unils. Natlonal Junlor Games.. 97 young disabled people trièd over 20 sports In an Incluslve residential event al Stoke Mandeville. Inter Splnal Unlt Games.. 80+ newly Injured parti¢lpgnls from 13 unlls galnod skllls. confidence. and peer support 21 our 36 Games for newly paratysed men and wom911. Reglonal Sports Fesllvals.. Six events brought In¢lus5vè Sport lo communllips nationwide. Learn to Days Intioducad p8ople lo now sports Including golf. handcycling, and skllng. Bulldlng Parlnershlps As a Sport England System Partner. we slrenglh8ned collaborallons with nallonal bDclies. local n2twowk$. and specialist organisalions embedding ovr GoldlSllverlBronzè Partnership Model lo locus resources where they make the most Smpacl. Cfuclally, many programmes were co-design8d with peoplg wllh livèd èxpèrienc8, ensuring ralèv8nc8 and accessibility. Developlng Resources W8 oraw our iesour¢$s lo support disaL)1od pgoplè into SPDrt'. 456 rasislance bands and SCI activity guides dislribuleLI for early rehabilitation. Guidg lo an Aclive Lile lollowing Spin81 Cord Injury devèloped wllh Loughborough UnSversity reprinted due lo high dtrffignd. Engaging Wheelchair Participanls Sport Iraininu dellvered lo 172 indivlduals, bringing Ihe lolal trained lo 873. Next year. we will largBI conlenl lo underrÈpre$enled groups and dislribul8 Il via trusted channels. including healthcare prolessionals. THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED OVERVIEW BY THE CHIEF EXECUTIVE {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 InBplrlng Through Herltsge As Ihe birlhplace ol the Paratympic Movement. our heritage inspires action. This yoai we proudly hosted th8 Par41ympi¢ Flamg Llghling Ceremony for Pari5 2024 and ccmmi118d to continuing this tradition for future Games, including the Milan.Cortlna 2026 Winter Par8lymplcs. 8tronB Qovèrnance. Sustainabl8 Future We conllnue lo meet th9 Governancg Code for Sport, guldeil by a skilled and Gommilled Board. While we faced 8 budget dgficrf, our reserve5 allowed us to su8laiR delivery. Wg are revitali61ng lundfalsing and diversifying incornè lo meet future challeng8S. OUT partnership wilh More Leisure c0￿M￿nitY Trust and Serco Lei8ure keeps Stoke Mandfrvllle Sladlum an Inclusive centre for disability sporl. The re￿nIlY up9raded sports hall ffloor has already enhanc8d oxperfences for (iisabled users and the wlder comtnunlly. The Year In Number8 11 April 2024- 31 March 20261 ImpactArea Exeruse frlm views Wheelchair mainlenan¢e film views Webslle visi15 External actiwly referrals Online filness class attendanees Rehabililalion sessions delivered Uniqu& splnal unil participants Resislance bands & SCI guldes dislrlbuled Newly injured 01 Inter Spinal Unil Games Y¢)ung people al Nallonal Junior Games Regional Sports FeslN815 held Disabled cvslomer vlsils al SlokE Mand8Vtlle Sladlum Oulcomg 18,717 28,389 69,375 2,458 1,074 48B+ 3.587 456 80+ 19,540 Looking Ahead In 2025-26 we wS11'. Expand Reglon81 Sport8 Fe8tlval8 n8llonwide. Slrenglh8n r8habllltation.to.Gommunlty pathways lor newly paralysed people. Create largeled conlenl for disabled women. older adults, and those wllh spinal cord Injuries. Sustain the Paralympic logacy Ihrough events and slorylelling. Thank You This ypar's aGhi8vemenls Ar8 only possibl8 Ihonks lo our Tluslees, volunteers, donors, fundraisers, partnws, and- nKJ81 Importantly the disabled Pèople who insplrè our mission every day. l extend my gialilude lo Chalrman Rob Ison. Pfesidenl Rosle Vesley. our 8o8rii, Vice Presldgnls, Patrons, Ambassador6. and Ihe dedicated WheelPower leam. Togethèr. we are bulldillg a futur8 where every dlsabled person has lh8 OPPOrtunily lo enjoy $port and physical aclivily. Mr Martin McElhatton OBE Chief Executive Dated.. THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Board presents their report IcMJ&lher with the audited financial stalemonls ol lh& company for th8 year ended 31 March 2025. The Report of the Boaid is also the Dlreclofs, Report as required by s.417 of IhE> Companies Act 20L16 and the Trustees, Report as Tequired by parts 8 ar)d 10 of the Charllles A¢1 2011, as am8nd8d by the ChBrilios Act 2006. Th8 linancial slalernenls comply wllh the requirements of the Companlgs Act 2006, the Chaiilable Company's Ariicles of Association and the StRlemenl of Recommended Pfacllce - Accounting and Reporting by Charilles IFRS 1021. Th8 financial slalemenls havg been prepaied In accordance wllh the accounllng policies sel out in note 1 lo lh8 rinancial slalements and comply with the Charity's gov8ming document. the Companiès Ael 2006, FRS 702 "The Financial Reporting Slandard applicable in the UK and Republic of Ireland" and the Charillos SORP 'A¢counling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charilies pfeparing Iheii acGounis In accordance wilh the Financial RepDrtin9 Standard applicable in Ihe UK and Republic of Ireland IFRS 1021" ObJecfive5 and aclSvltles Financlal review Income for the year amounted lo £794,824, repres8nllng a decrease 01 £321,153 (28.8Yol compared lo the previous year. Incomg w&$ received from a wide range ol sourcès, r8fl8cling Ihg continuing support and inleresl iri the organlsalion's work. Expendlture loi th8 period amounle(I to £1.238.603, Including Stsdium deprecialion of £360,654. As a r8sull, thèrè was 8 pr8-d8precialion d8ficil of £48,369 and a posl.deprecialion deficit of £443,779 (belore ievaluallon ol Invoslmonl assglsl. Afl&r Includlng investment gains of £12,556, th8 nel delicil lor thè yÉèr was £431,223. R&$erve$ Pollcy Total r&serves al 31 March 2025 stood al £3,9O8,69412024.. £4,339.9171. A slgnlflcanl proporlion of IhBS8 r8seN8s ar8 répr8senl8d by funcliDnal fixed ass8ls- principally Stoke Mandeville Stadium- whlch are used difeclly in the furlherancg of Ihe Charills obje¢llve$. Thè 808rd's gèn8ral Res8rves Policy rémains in place lo provide a level of comfort in the oiganisalion's abllity to provldg conllnulty of support lor our benefi¢￿alles. Reslricled donations rnusl be applied in accordanc8 wilh the 18rms under which Ihey are donated and arg not Iherefoie avallable for g8ner81 purposes. Timing differences beiween receipt ar)d expendllure can regull in balances bèing hèld in r@striclecS funds al ya8r end. D&lails of the varlous reslricled funds are sel oul In nole 20. Unreslficled res@rvos ar8 expgndablfy al Ihg dlscrelion ol the TrL*slees in the furth8rance of th& Charlty's objècts. If part of unreslricled reserves is aarmarkèd for a particular project, il may be designated as a sepacale fund, bul Ihe dg5ignalion is for adminislralivo purpostss only and does not legally reslri¢l Trusleos, discrelion lo apply th8 fund8. The Trustees aim lo maintain rgs&rves al a mlnlmum level equivaler¢l lo approximately months, runnlng Costs laboul £350,DOO} in ¥ normal year. In addition lo Ihe responsibility lor mainlaining and repairing Stoke Mandevnle Sladivm, the Trusteès aspirè lo davèlop Ihè sile lo improvè lacilili&s lor the bBn&lil of users. £500.000 of unreslricled f8seTves remains designated for Ihls purpose. Nel currBnl Bssels and inveslrnenls stood al over E604.000, provldlng a valuable cushSon to gnable the Charity lo meet commilments and continue inilialives aimed al increasing parlicipallon by disablèd peoplè in sport and physicgl activity. THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Investment pollcy Thg Finance 2nd Manag8menl Commille8, undar d8lèg8lèd 8iilhority Irorn the Board. is responslb19 for settlng the inveslmenl slFalegy and monlloring Ihè performance of the Charity's investment assets. Day-to-day inveslmenl management is delegated lo an atjlhorised professional inve51menl managpr rggulalgd by Ihe Financlal Conduct Aulhority IFCAI. ThB Commillee revltrws reports provided by the inv8slmenl managèr and informs the Board ol any maleiial changes affecllng Ihg inv8slmenls. The Charity's ovèrall investment objeclive is lo achleve Ihg best possible linanclal return within an accèptablè level of risk. To manage risk effectively and enhanca r61urn polènlial. inveslmenls will be diversified aGr055 a range of asgel classes, sectors, and geographiès, as appfOPrtal9. Long-Term Reserves Objectlve The objective for long-lèrm réserves is lo achieve a return that exceed8 infjlalion over the long term, whilè generaling incom8 lo support the Charity's ongoing aclNIUos. Shorl-Term Resfrrves ObJe¢llve The objective lor shorl-lerm r8Sgrves is lo preserve capital with minimAI risk, ensuring that assets remain readily aecesslble lo meet anlicipaled and unanlicipaled cash flDW requirements. Th2 Charity is commilled lo a iespon51ble inveslrnenl approach. Inv8slm8nls wlll bè revl8W8d lo ensure they do not Conflict with Ihe Charity's 8ims, values, OF elhical standards. Plans for thè future WheBIPowe¥ continues lo implement our Moving Fotward TogÈlhÈr strategy and are working with a rangg of paflners lo develop Stoke Mandeville Stadium. Our firsl phase will locus on neuFO fehabllilalion supporting disabled p8oplo lo a¢¢ess the care Ihey need and providing a pathway from rehabllilalion lo communlty spotl. This will work alongsldg use ol Ihe facilities by individuals, sports groups and through events al Stoke Mand9vllle Stadium in an inclusiv8 community selling. We are seeking lo improvB the fin8nclal suslalnabillly of Wh68lPowèr and the development ol Sloke Mandeville Stadium will enablè us lo d8llver our slralegic goals. WheelPower remalns commilled lo improvlng OL¢r suslalnability an($ our green crodenll8ls Ihrough our programmes. As a System Partner wllh Sport England w8 wlll conllnue lo develop our parinefships and segk lo collaborate with olhÉrs to tackle the inequalities laGed by dlsabled people and reduce the barriers thèy 18cè In particlpallr)g in sport and physlcal aclivity. We continu8 lo r8vlew our programmes and seek lo create n8W OPPOrtunilles lo meet the needs ol disabled people so Ihtyy can access sport and physical a¢livily Ihrough our network ol hubs across the ¢ounlry. We will seek lo ensure our onllnè and in person events and progr8mm8s dèliv6r axc8llènl opporlunilies lo èng998 wilh disabled peoplo and ci8ale fanlaslic life experiencas Ihal promote sport as part of an aclive life. SlrucluTep govèrnance and wnanagement The Brillsh Wheelchair Sports Foundation Limiled is a company limited by gu8ran18è, incoTporalert on 26 June 1972 and registered as a chafity on 3 April 1973. The company was eslabllshed under a Mgmorandum ol AssDcialion which eslablish6d lh8 oblètls and powers of the company lh of us, and we have bolh bgen overwhélmed with th& encouragem&nl and support we have exp9rienc8d so lar. By donèling lo our fundralser, you'll bg aiding th8 many Iiv8s Ihal Wh8elPow8r supports. as well as encouraging my 8-yogr-old Eva In support of her endeavour. I have a feeling that with this motivation Eva will be ready lo lake on even blgger challenges In future. Thank YDU." Stevo and Eva- Fathèr and Daughter cycllsls In the Tour de Va19 .1 do enjoy cycling bul I've never done the Tour de Vale bgfor@. Il's always caughl my eye bul this year I thought I'd do some organised events and Ihls promplÈd me lo IIK>k al IhÉ 2023 ridè. The charity il raises money for lipped the balance for me becausg I fell il was something l Could r&ally g21 behind and support." 62 ygar old ¢y¢llst In the Tour de Vale An absolute privilege and joy to be a small part of the WheelPow&r- Brfllsh Whe91chair Sport Inter Spinal Unil Games al the Stoke Mancleville Stadium last week! Our volunteers were out in force - personally I loved belng Ihrown In 91 the dèèp Énd learnirLg the ropes lo bècome a badmlnlon umpire Ilhls was 2 lillle bumpy for match 1 bul I soon gol th8 hang of ill and Ih8n tBb18 tennis ball girl (much hardBr than il looks). Nwly injured participanls from rahabililalion unlls all over the UK ar)d Ireland came logelhef for Ihtr week lo try out the sports and wmpele. Everyone was hBving 2 great lime and il was nlcely IoppeLf off with a celèbralDry dlnner on Thursday evening. Vlctoria, Stewart8 Volunteer at Inter Splnal Unit Gam¥s Wow. what a resulll Proud lo havo helped raise £30K lor Whe8lPower- British Wheelchair Sport through ou( annual Clyde & Co Stoke Mandeville Expgri&ncg Day. The event inspired wnany ID gel moving and Snvolved wllh parasports, whilst bringing insurers logelh&r for some heallhy comp8lilion. A big thank you lo everyone who gol Ir)volvedl Klrstyg Clyde & Co - Stoke Mandevllle Experience fundrol$&r Taklng care of our buslness As a charily we s96k lo operatB as a buslness whilst still delivering our charitable alms and objectives. For every £1 we spgnl in 2024125, 83p12024.' 81 pl was on our charitable objectives and 17p12024.. 19pl on gov8rnan¢e and fundraising. For ev8ry £1 w8 invest in fundfaislng, we ralse £4.7912024'. £5.22) which h&lp&d ug Ifanslomi even more live5 Ihrough niovemenl, physical aclivily and sport. Our People WheelPower is an org2nisalion with a relatively small core staff team with a mlx ol full lime and part lime staff IFTE.. 11.31. The organisalion is supported by several senioT volunteers and ¢ommilleè members with a wealth of business. sports and charity experience who play an active role In the charity. Many hun(Sreds DI volunteers support WheelPower's wider work lo deliver movemenl. aclivity sport lo thousands ol disabled people across the UK. THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Publlc Beneflt The Board hav8 complied wllh the duly in Seciion 4 of the Charllles Act 2022 lo have dlts regard le ihe public benefit guidance published by Ihe Charity Commission. TrLislees' reporl was approv8d by th8 Board ol Trusle88. Mr Robert Wi180n Chalr of TNslees D81ed-. 12 THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED Oplnlon Wa have audlled Ihe financial slalem8nls of The BTilish Wheelchair Sports Foundallon Limited (the 'Charlly'} for the year ended 31 March 2025 whlch comprisè Ihe slalemenl of finar)cial aclwilies, Ihe balance she81, the stalgmenl of cash flows an(S Ihp notes lo the financlal slalemenls, including a summary of significant accounling pollcles. Tho financial reporting framework that has been appll¢d in their preparation is appll¢abl8 law and United Klngdom Accoun15ng Standards, including Financlal Reporting Slandard 102 Tlje Financial R8portlng Standard appllcabl& In the UK gnd Républic ol Ireland IUr)iled Kingdom G?n?rally Accepted Accounting Practlce). In our opinion. the financial slalemenls.. give a Irue and fair vièw of thè slate of the charitable company's affairs as al 31 March 2025 and ol its Incoming resources and appll¢alion ol resources, for Ihe year Ihgn ended., have been propedy prepared in accordance wlh Llnlled Kingdom Generally Accepted Accounllng Praclice- and have been prepared in 8cBordance with the requirements of the Companies Act 2006. Basis for oplnlon Wv conducted our audit in accordan¢8 wilh Inlèmaltonal Standards on Audlllng (UK) (ISAS IUKII and appli¢able law. Our responsibilllies under those Slandards are further described In the Auditors rvsponsibililies for audil ol the finan¢ial sletemenls section of our report. We independent of the Charlty in accordance with the elhical reqLiirein8nls that are relevant lo our audll of the financial slalemenls in the UK. Including the FRC'S Elhic81 Standard, and we hav8 fulfilled our other elhical iesponslbllllies in accordanc8 with thèsè rÉqulremgnls. We belleve Ihal Ihe audit evidence we have obtained is suificlenl and approprlale Io Provide a basis for our oplnion. Concluslons relatlng to golng ¢on¢ern In auditing the linancial slalemenls, we have ¢oncluded that the Trustees, use of the going concern basis of aGcounllng Ihe preparaliDn of the financial slalements Is appropriate. Baseil on the work wè h8vg performed. we have not idonlified any material uncÉrtginli8s relating lo events or conditions that, individually or collectively. may cast significant doubl on the Charity's abillly lo conlinue as a going concern lor a pèrlod of 8118asl ￿￿1ve monlhs from whsn the flnancial slal8merbls are aulhoiis8d for issue. Our r8sponsibililies and the 1gsponsibllilies of the Truslegs wSlh resp8Ct lo going Con￿[￿ aTe described in Ihe relevant sections of Ihls report. other Informatlon The other informalion comprises the informallon included In the annual report other than Ihg financlal slalem&nls and our audilorfs rapDrl Ihereon. The Trustees ar& responsibl8 for the other infoTmalion ¢onl8ined within Ihe annual ieport. Our opinion on the financial slalemenls does not COVOf Ihe olhgr inlorma1ion and w8 do not expre55 any lorm of assurance cgnclusion Ihereon. Our responsibility Is lo rèad the olhei information and, in doing so. con%idÈr whelhef th& olher information is materially incorisislenl wilh the linancial slalemenls or our knowledge obtained in the course of th8 &udil, or olherwisè appears lo be malÈrially misslaled.ll we identify su¢h malerial inconsistencies or apparent material mSsslalemenls, w& are required lo d8lermina whglhBr this gives rise lo a malerlal misslalemenl in the financial slalemenls Ih8ms8lves. 11. based on the work we have performed, wè concludè that there is a molerial mis51alement ol this Dlher inlormaliDn, we are required lo rèport Ihal lacl. W8 have nDlhing lo report in this iegard. Matters on which we ar& rgqulred lo report by exceptlon We have nothing lo report in respect ol the following mattgrs In relallon lo which Ihe Charilies {Accounls and Reports) Regulations 2008 requires us lo iepoil lo you il. in our oplnlon.. the information given In th8 financlal slalemenls is inconsi$l8nl in any maleiial respect wilh th8 Trustees, repgrt.. or sufficienl accounting ia¢ords have nol bB8n kept- or the financial 51altsmènts are nol in agreement wilh tha accDunling records- or w& hawg not received all th& information and axplanalions we require lor our audit. THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED Responslbllltles of Trusteos As expl8lned more fully in IhÈ slalemenl of Trusle8s' responslbililies, the Trustees, who are also Ih@ dlréctors of Ihe Charity for the purpose ol cotnpany law. ara r8sponsib18 for the preparallon ol the firiancial slalemanls and for bging satisfied Ihal they give g truè and lalr view, and for such internal control as the Trustees determine 15 necessary 10 enable the preparation ol flnanclal slalemenls that are free from material mlsslalemenl, whether duè lo Iratjd or error. In preparing the financlal slalemenls, thè Trustees are responsibl& for assesslng the Chadly's ablllty lo continuè as a going cone8m, disclosing. as appllc8ble, niallers related lo golng concern and uslng tha golng con¢em basis of accounllng unless the Truslees èithèr intend lo liquldalg the cha¥ilable company or to ¢8as8 operations, or have no realistic allernalive bul lo do so. Auditor's respon8ibilllles for the audlt of the fiTranclal statgwnents We havÈ been appointed as auditor under seclion 144 01 the Charities Act 2011 and report in accoidanB8 wilh the Act and relevant regulations made o¥ having eff@cl Iheieunder. Our objectives èce lo obtain reasonable assurance about whelhar IhÈ ftnancial slalemen15 as a whole are free from material misslalemènl, whether duè lo Ifaud or error. and lo issue an audilof's repDrt Ihal includes our opinion. Regsonable assurancg 15 a high lavèl ol assurance bul is nol a gu8rarilee Ihal an audll conducted in accordance wSlh ISAS IUKI will always delecl a malgrial misslalemenl when 11 exists. Misslalemenls ¢an arise from fraud or eiror and are consldered material il. individually or in the aggregalg, they CQLtld reasonably b8 èxpeoled lo influence the economic dFcislons ol users taken on the basis ol these financial stalemenls. The exlenl lo which our PFocodures are capable ol d&l&clSng Irregularities, includlny fraud. Is detailed below. Explanatlon as to the extent to whlch tho audit was consld&red cBp4ble of delecllng Irregularltles. Includlng fraud Frorn the preliminary stage of the audit, we ensuT@ our understanding of Ihe entity is up lo dale. This includes, bul Is nol limitèd lo, current knowlgdge of Iheii aclivSties, the business and control ènvironments, and their complian¢8 with the applicable legal and regulatory framEwoiks, This inloTmalion supports our iisk idenlificalion and the subseqtJ8nl dèsign ol aijdil prgGBdures lo miligale Ihosè rlsks. ensuring Ilial the audit evidence obtained is sufficienl and approprlale Io SL*PPOrt ou( opSnlon. In response lo the rlsks Idenlili8d, specific lo this enllty. we designed procedures which included, bul werg not limited lo,. Enqulry ol manag&menl and those charged wllh governance afound actual and potential liligallon and clalms., Reviewing minutes ol meetings DI those ¢harged with governance, il available., Reviewing financial slal8menls disclosufes and lesling lo supporting documentation lo assess compllanc with applicable laws and regulations.. Auditing the iisk ol managernenl override of controls, including through lègling journal enllies and olhef djuslmenls lor appropriateness. and evaluating the business rationalè lor significant Irensaclions outside the nomial course of business. Th91e are inhBr&nl limltalions ir) the aLKfll procedu￿8 described above and Ihe l¢Jrlher r8mov8d non-compliance with laws and regulallons are from the evènts and Iransaclions refleLlfjd in the financial siBlernenls, Ihp less likely we would become awar8 of it. Also, the risk ol llDI delecling a malefial misslalernenl due lo Iraud is higher than the risk ol not delecling onè resulting from error, as fraud m8y involve delibefa19 ooncealrnenl by, for ex8mpla, forgery or inlÈnlional misrepfes@nt8lions, or through collusions. There is always thè unavoidable risk Ihgt material misslalemenls in the fin8nclal slalemenls may not be delecl8d despite th? audll being properly p8rformÈd in accordance with UK Audlllng Standards. A lurfher descriplion of our responslbilllles 18 available on Ihe Flnancial Reportin9 Council's website al.. hllpsjl ww.Irc.org.ukJaudilorsresporisibili118s. Thig descyiplion lorms part ol our audiloes report. 14 THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINLIED) TO THE TRUSTEES OF THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED Use of our report This report Is made solely lo th8 Charity's Truslees, as a body. in accordanoe with part 4 01 the Chafilies (Accounts ancl Reports) Regulations 2008. Our audit work has been undertaken so that we mlghl slate lo the charSty's Iruslees those mallers we are required to slate lo them in an auditors, report an(1 for nc> other purpose. To the fullest extent permilled by law. we do not a¢cepl or assum8 responsibllity lo anyone other than Ihe charity and the Charlty's Tru5188s as a body. lor our &udil woik, for this report, or lor the oplnions we have formed. Davld Hyne5 Isenior Statutory Audltorl For and on behalf of BK Plus Audit Limited SlaluloryAudilor Oakingham Hous8 Frederick Pla¢e Hlgh Wycombe Buckinghamshire HP11 1JU DalÈ'. trsii o/?L? 15- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Deslgnated Restricted funds funds fund5 Total Total 2025 2025 2025 2025 2024 Notes Income from.. Donations and legacios Charitabl8 aclivilies Other trading aclivilies Investments 153,843 11.433 293.994 31,736 281,796 435,639 11.433 316.016 31,736 703,646 13.055 366,345 32.931 22,022 Total Income 491.006 303.818 794,824 1,115.977 Ex endllure on.. Ralsing funds 204,558 204,558 249,525 Charitable aclivllles 10 344,998 689,047 1,034,045 1.072,546 Total resources exppndèd 549,556 689,047 1.238,603 1.322,071 Nel (loss) on investments 17 12,556 12.556 {5,4671 Net outgolng resources before transfers 145,9941 1385,2291 1431,2231 1211,5611 Gross Iranslers b@￿eTh funds 121,9801 21,980 Nel movement In funds {67,9741 1363,2491 1431.2231 1211,5611 Fund balances 811 April 2024 858,489 500,000 2,981.428 4.339,917 4,551,478 Fund balances al 31 March 2025 790,515 500,000 2,618,179 3,908,694 4,339,917 The Stalemenl of Financial Acllvilles includes all 9ains and10gses recognised in the year. The Slalemenl of Financlal Activities also complies with the requirements lor an income and exp&ndilurè account undar thè Campanies Acl 2006. t6- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED BALANCE SHEET ASAT 31 MARCH2025 2025 2024 Note8 Flxod 888ets Tangibl8 as5815 Snveslmenls 14 16 2,99Y,302 307.390 3.378,854 294.834 3.304.892 3.873.888 Current aSg&ts Debtors Cash al bank and In hand 78,396 631,978 45,323 71 S,420 710.374 760,743 Cr&dllor8: amounts falling due wlthln onè year 16 {7￿.372} 194,514} Nel curienl assets 604,002 666,229 Totsl 8$8et81898 currunt Ilabllitl¢¥ 3.908.694 4,339.917 Income fundg Reslricled funds Design818d funds Unreslrlcled funds 20 18 19 2,618,179 500.fJOO 790.515 2.981.428 500,000 858.489 3,908.894 4,339,917 The company is enlilled to Ihe exempllon from the 8udll requlrem6nl conlalned in secllon 477 of the Companles Act 2006, for the year ended 31 March 2025, although an audit has been carried out under section 144 01 the Charilles Act2011. These flnancial slalemen15 have been prgpared In accordance wllh Ihe provtslons applioablo lo companies subled to Ihè small Gompanles ￿giMe. The accounts were approveil by th& Twslees on ......................... IÉ- OcE&e£ 201£ Mr Robert Imlson Tru8toe Company Reglstratlon No. 01069490 17- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 202$ 2024 Nolg5 Cash flows from opgratlng actlvlllès Cash (absorbed by)Igeneraled from op8rallons 26 1113,8761 95,073 Invgstlng activitios Purchase of tangible fixed ass&ts Interest received 11.3Q2) 31,736 1296.689) 32,931 Nvt ¢a8h generatgd Iroml{used In) Inve511ng aclivltlès 30.434 (263,7581 Nat d&creaso In cash and cash equlvalgnts (83.4421 1168.6851 Cash and cash equlv8lents al beginning ofygar 715,420 884,105 Cash and c¥sh equSvalents at end of year 631,978 715,420 18- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounllng pollcles Charlty Informatlon Th8 British Wheelchair Sports Foundation Llmlled is a privale company limlled by guarantee incorporgled In England and Wales. The re9islered offic8 is Sloke Manofeville Sladlum, Gullmann Road. Stoke Mandevllle, Bucklnghamshire. HP219PP, Ev8ry member of the Fotjndallon is Ilable Ltnder Ihg Memorandum and Articles of Association lo conliibule, In thè ev8tbl ol a winding up, a sum nLII exceedlng £5. Al 31 Maich 2025 Ihe number of members was 55 {2024.. 521. 1.1 Accountlng ¢onventlon Thè acoounls have been prepared in gccordance wilh the Charity's Articlès of Association, Ihe Compani&s Act 2006 and "Accounllng ar5d Reporting by Chafilles.. Statement ol Recofflmend2d Practice 8pplieabl& lo charilièg preparing Ihelr accounls in accordancè with the Financial Reportlng Standard applicablè in the UK and Republic of IrelanEI {FRS 1021" las amended foT accounting pariods commencing Irowll 1 J8nuary 20161. The Charity Is a Public Benefit Enlily as defined by FRS 102. The financial slalemenls are prepared in sleillng. which is the fvnclional currency of the Charity. Monetary amounts in Ihese Ilnancial stBlemènls are rounded lo Ilie r5earesl £. Th8 prSnclpal accounting pollcies adopted Bre sel out bglow. 1.2 Golng concern Al thè lime ol approvlny th8 flnanclal slalemenls, the Trustees have a reasonablè expeclalion Ihal Ihe Charlty has adequate resources lo conlinue in OPEraliDnal existence lor the foreseeable lulure. Thus thè Trustèes conlinue lo adopl the going concern basis of accounllng in prepaling the financi81 slalemenls. 1.3 Charltable lunds Unreslricled funds are avai18blg for uge al the disc¥eliDn ol the Trustees in furlh8rance ol their charitable objectives. Reslricled funds are sublecl lo specific condillons by donors or grantors as lo how they may be used. The purposes and uses ol the reslrlcled lund% are sel out in Ihe nolfys lo the financial slalemènts. 1.4 Incomlng rèsources Incoming resourc&s are recognised once tho Foundation has enlillèmènl lo the resources, il Is cgrtaln that the cesoufres will be received and Ihe mon&lary value of incoming resources can be measured with sufficient rèllability. Cash donations are r6cognis8d on receipt. Olhfyr donations are recognised once th8 Foundation has bèèn nolili6d of the donation, unl8ss performance conditions require deferral DI the amounl. Such donations are allocated lo ieslricled funds in accordance with the exprEssed wishes ol th8 donor. Income lax recoverable In relation lo donations recelv8d undei Gifl Aid or d8èds of covenant is recognised al Ihe lime of the donation. Income from legacies is recognSsed on noliflcalion and grants accrued on conllrmallon of thè granl. Olheywlse if Ihe Foundation has bg@n nollfiÈd ol an impendlng dislribullon. the amount Is known. and recèipl Is expected. In preparing Ih8sÈ acoounls np value has been allribuled lo thè woik pgrformed by volunlgers in accordancB wilh the provislons in Ihe SORP lor Ch8filiÈs defin9d by FRS 102, although their work is consld8red vital lo the aclivilles of the Charity. 19- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcle$ Icontlnued) 1.5 Rasources expended Liabilities are recogTrisfyd as rpsources expended where the￿ Is a 18gal OT conslruclive obligallon commilling the Foundallon to the èxp8ndilura. All expenditure is accounted for on an accruals basis and includes. where applicable. value added lax where Ihls is irrecoverable. Cost of generBling funds are Ihose Sncluded In seeklng voluntary conlrfbullons and do not include the costs of dlssominallng information in support of the chaiitabl8 8clivilies. Govarnanc8 costs are th2 cos15 associated with the governance arrang8menls of Ihg char*ly that relate lo Ihe gen8ral running ol Ihe charity, as opposèd lo thos8 costs associated with lundralsing or charitable activity. Included wilhin this category are costs assoclated with lh6 slralegic, as opposed lo the day-lo-day, management of the charivs aclivilies. Support cosls. which include cenlral office functions such as gènèral m8nagemenl, payro11 adminislraliDn. budgeting and accounting, informalion technology and finan¢Sng are allocated across the categories ol charitable expenLlilure, governance costs and costs ol generating funds. These costs are apportlonod on the basis ol an estimate by thè Board of Ihg Ilme spenl. 1.6 Tanglbl& flxod assets Tangible fixed assets are Inlllally measured al cost and subsequently moasured al cost or valuation, nel of d8precialion and any impairm8nl losses. Dgpr¢¢lallon Is recognised so as lo wrile off th8 cost or valuation of assets less their rèsidual values over Ihelr useful lives on th8 following bases= Leasehold Improvements Plant and machinery 4-50 ye8fS slraighl line 3-5 years slfaighl line The gaSn oi loss ar¢sing on the disposal of an assèt Is delermlned as the diffeien¢e between the salè proceeds and the carrying value of the asset, and Is recognlsed in the statement of financial aclivilies. 1.7 Flxed asset Investm&nls Fixed 85s81 inveslmenls are inilially measured al Ifansaclion price excluding Ifansaclion costs, and are subsequenlly m8asur8d al fair value al each reporling dale. Changes in fair value are recognised in nel incomellexpendilurel for Ihe year. A subsidiary Is an enlily conlrollod by the Charily. Conlrol 1$ th8 power lo govern the fifiancial and operating policies of Ihe entity so as lo obtain b8nBliis from11s aclivilies. 1.8 Impalrmenl of flxed a58el¥ Al each feportlng end dale, the Charity reviews th8 carrying amounts of ils langible assets lo determin8 whether Ihère is any indication that those assets have suffered an impaifmènl loss. 118ny such indication exists, lh8 iecoverable amount of the asset is èslimAled in order lo del8imin8 Ihe exlenl ol the impairment loss lif any). Inlanglble assets wllh ind8finile useful lives and Inlanglblo assets not yel avallable for us8 are lesled for impaifm8r>l annually. and whenever there is an indi¢alion Ihal Ihfr ossel may be ifflpaired. Ihe cairying arnounl of the asset 15 reduced lo ils recoverable amount. 20- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollelfrs {Continuedl 1.9 Cash and cash equlvalents Cash and cash 8qulv81gnls include cash In hand, deposits held al call with banks, olh8r shorl-lerm IiqLtid investments wilh origlnal m8lurilles ol Ihreè monlhs or less, and bank overdrafis. Bank overdrafls are shown wllhln borrowings In currènt Ilabilllies. 1.10 Flnanclal Instruments The Charity has elacled lo apply the PfDvisions ol Section 11 'Basic Financial Insliumènts. and Secllon 12 'Olher Financial InslrLSTh8nts Issues, ol FRS 102 to all of ils financial inslrumenls. Financial inslrurnenls are recognised In the Charity's balanc8 sh8et wherb Ihe Charity becomes party lo the nlraclual provisions ol the inslrumenl. Financial assals and liabilities are offsel, with the nel amounls piesenled in Ihe financial glalemenls, when there is a legally gnforceable righl lo SÉI off the recognised amolfnls and Ihere is gn intention lo sellle on a nel basis or lo rè81ise the asset and 5elllg the liability simullanèously. Bas1¢ flnanclal ass9ts Basic firsancial #gsels, whlch Include debloTS and cash and bank balance5. ale inilially measuièd 01 Ilansaclion prl¢e Incluoling transaction cn.4ts and are subs8quenlly carrierl at 8mortlsed cosl using the fleclive inleig51 melhod unless the arrangement conslilul@s a financing Iran5aclion, wh&re the transaction is measurecl al Ihè present value DI the fult¢re feceipls discDunl&d al a markel rale Df inleresl, Financial assets classified as receivable wilhin on@ yèar are not arnorlised. Bas1¢ flnancial Ilabllltles Basic financlal liabilities, including créditors and bank loans are initially recognised at transaction price unless the arranyetnenl conslilules a financing Iransacllon, wt)er8 Ihe dpbl instrument is measured al Ihe Present value of th6 lulure paymei)Is dSscounled al a market rale of Inter951. Financial liabilitiès clèssified a5 payable wllhin one year are nol amortlsed. Debt Inslrum8ntg 8Fe subsequently carried al amortised cost, uslng Ihe effective inlerasl fatè melhod. Trade credilors arè obllgalions lo pay lor goods or services Ihal have been acquired in the ordlnary course of operations from suppllers. Amounts payable are classif1ed as Gurrenl liabilities il paymènt is due wilhin one year or less. 51 not, they are presented as non-currenl Ilabililiès. Trade creditors are rbcognlsed initially al liansaclion price and subsequently measured al amortisgd Cost LFsing the effective interest melhoLI. Dgrecognllion olllnan¢lal liabilltles Financial liabilities are derecognised when the Charily's conlraclual obllgallons expire or are discharged or cancelled. 1.11 Employee beneflts The cost ol any unused holiday ènlillèmenl is recognised in the period in which Ihè Émploy8e's services afe received. Terminallon benefils are recognised Ifnrnedialety as an èxpense when Ihe Charity Is dèfflonslrably commllled to lerminale the employment ol an etnployee OT lo provide lèrmlnalion benefits. 1.12 Retlrement benèflls Paymonls lo defined conlribullon reliremenl benefit schÉmÈs are charged as an gXPgnse as they fall dug, 1.13 Corporallon tax The British Wheelchair Sports Foundation Limited is a registered charity and a5 SLEch ils incomB Bnd gains falling wllhin Section 5G5171(el Income and Corporallon Taxes Acts 1988 or S8cliorn 256 of Chargeable Galns Acts 1992 are exempl from corporation lax lo the ￿xI￿nI that they are applied lo Ils charilable obje¢lives. 21 THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollclg5 (Contlnuedl 1.14 Group Accounts The financial slalemenls presenl Informallon aboul the company as an Indivldual und8rtaklng and not aboul ils group. The company h8$ laken advantag8 ol Ihg exemplions provided by 5ecllon 405 of the Companies Act 2006 nol lo prepare group aBcounts, as Ihe subsidiary is not malgrial for Ihe purpose of giving a IIu8 and falr view. 1.15 Fund Accounting Genefal funds are funds that ar8 available for use al the discr8tlon ol the Board in furtheranc8 of thè general objectives of the charity and which have not been designated for olhÈr purposas. Reslricled funds are fund8 that are lo be used in accordance with speciftc r8slriclions imposed by donors or Ihal have been raised by the char51y and whlch have not been dgsignaled for othèr purposes. The costs ol ralsing and adminislering SUGh funds are ¢hargèd against the specific fund. The aiffl of each feslricled fund is sèl out in Ihè no18s lo the financial slalefflenls. Donatlons And legacles Unr•strlcted Re8lricted funds fund$ Total 2025 Total 2024 Donalions and gllls Income from trusts and legacies Granls 105.665 48.178 3,000 164,950 113,846 108.665 213.128 113.846 186.027 395,838 121,781 153,843 281,796 435,639 703.646 For the year ended 31 March 2024 140.864 562,782 703.646 Charitable a¢tlvilio8 202S 2024 Incoming resources ffown charitablg activities 11.433 13.055 22- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other tradlng actlvltles Unr8strl¢tod Restrlcted funds funds Total 2025 Totsl 2024 Fundraislng evenls Stadium incomè 87,341 206,653 22,022 109,363 206,653 126.050 240,295 othÈr trading acliviliès 293,994 22,022 376,016 366,345 For the ygar Ènded 31 March 2024 354,012 12,333 366.345 Investments 2025 2024 Inleiasl Irom inveslmenls 31,736 32,931 Nèt movtrfflent In funds 2025 2024 The nel movemenl In funds is slated after charging,, Fees payablè for the audil of lh& ch8rlty's financial slalemenls Depreciation ol owned tangible fix￿ 8SSètg 5,500 382,854 5.000 382.175 Ralslng funds 2025 2024 Fundraisin and ublic Staging fundraising events OlhÈr fundraising costs staff coslÈ Support costs Ise8 note 111 8,683 29,266 143.630 31.944 26.926 122,692 16,222 165,840 213.523 Operating costs Govemance costs (see riole 111 38,718 36,002 204,558 249,525 23- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Taxallon The charity is exempl from taxation on ils activities because 811 Ils Income Is applied for charil&bl& purposes. Trust•e$ None of the Iwslees lor any pèrsons connected with them) reGelv$d any remuneration or bèn8fils Irom the charity during the year. 10 Charitablo actlvltles 2025 2024 Staff costs Sports campy JLtnlor games National gam&s Olher sporls expenditure 356,599 59,383 56,459 82,049 334,566 60,306 65,509 83,548 5.750 554,490 549,679 Share of support Costs (see note 111 479,555 522,867 1.034,045 1,072.546 -24- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Support costs Support Gov•rnan¢¥ cost5 ¢0Sts 2025SLtpport costs Covernanc8 cosls 2024 Staff costs DepreciBlion Rates and insurance Maintenance Overheads Finance & admlnlslialion Irrecoverable VAT 22,175 22,175 360,654 87,395 598 41,861 700 11,086 18,194 18,194 357,887 78.861 30.559 44,063 878 50,724 360,654 83,025 598 40,490 478 10,532 357,887 74,918 30,559 42,633 626 48,188 4,370 3.943 1,371 222 554 1.430 252 2,536 Audil fees Legal and professional 5.500 4.526 5.500 4,526 5,000 4,647 5,000 4,647 495,777 38,718 534.495 554,811 36.002 590,813 Anglysed between Fundralsing Tiading Charitable aclivilies 16.222 16,222 38,718 479,555 31.944 31,944 36,002 522,867 38,718 36.002 479,555 522,867 495,777 38,718 534,495 554,811 36.002 590,813 Governance costs includes payments lo the audilors of £5,50012024 - £5,000) for audit leès. 12 Employees Numbor ofemployeBs The averagp Inofilhly number of employees during the yeor w8S'. 2025 Number 2024 Number 18 18 The lull lirng equivalenl numbèr of employees included within the above average numbers was 11 12024.. 111. Employment costs 2025 2024 Wagès and salaries Social security ¢os15 Other pension costs 443,234 36,757 21.475 439,267 35,965 21.358 501.466 496,390 25- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Debtors 2025 2024 Amounts falllng due wlthln ono yoar: rfade debtors Other debtors Pr8paym8nls ond accrued incDm 40,590 304 37.502 2,619 10,870 31,834 78,396 45.323 14 Tangible fixed a8SOts Lea88hold improvement8 Pl&lll and Macttlnery Tolal Cost Al 1 April 2024 Adclilions 11.557,936 172.089 1.302 11,730.025 7.302 Al 31 Maich 2025 11.557.936 173,391 11.731,327 Deprecl8tlon anfl ImpalTment Al 1 April 2024 Dgprecialion charged in lh8 ygar e,229,035 360.654 122.136 22,21X) 8,351,171 382.854 At 31 March 2025 8,589.669 144,336 8.734,D25 Carrying amount Al 31 March 2025 2,968,247 29,055 2.997,302 Al 31 March 2024 3,328,901 49,953 3,378.854 26- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Flxed a5Sèt Inv¥stmenls M&G othèr Unllsted Investments Inveslm$nts Total Cost or valuallon Al ? Aprll 2024 Revaluallon this year 293,834 12.556 1.000 294,834 12,556 Al 31 March 2025 306.390 1,000 307.390 Carrylng amount Al 31 March 2025 306.390 1,000 307.390 Al 31 March 2024 293,834 1.000 294,834 2025 2024 Olher Inv&slmenls comprls8'. Note lllveslfflenls in subgldlaries 25 1,000 1,000 16 Credltors: amounts fa111ng du¢ withln one year 2025 2024 Other laxalion and social security Trade credilors Other cr&dllor8 Accruals and deferred Income 32,368 7.411 2.717 63,876 12.379 7,141 26,306 48,688 106.372 94,514 17 Net Ilossl on invèstment8 2025 2024 RevalualiDn ol investments galnlllossl 12,556 15,467) 18 Dgslgnated funds Al & 8oariS m881ing In May 2021 il was agie&d that £500,000 ol Unreslricled Funds WC*uld be deslgnaled lowards the development, tnainlenanca Bnd rÈpalr ol Stoke Mandevlll8 Sladium. 27- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Unreslrlcted funds Thg tJnrÈslriel8d funds of Ihe chaiily Comprise the unexpended balances of donations and grants which are not sublecl lo specific concsilions by donors and grantors as lo how they may be used. Thesg include deslgnaled fvnds whlch have been sel aside oul of unreslricled funds by the Iruslees for speclfic purposes. At 1 Aprll 2024 Incomlng resource5 Re80urce expèndèd Tran8fer$ Galns and At 31 March losses 2025 Ggneral fund5 858.489 491,006 1549,5561 121,980 12,556 790.515 Prevlous year.. At 1 Aprll 2023 Incomlng rosourcgs Resources expended Tiansfers Galns and At 31 March lo$so$ 2024 General funds 967.668 540,862 {609,7861 134,78BI 15.46T> 858,489 20 Restriclèd fund$ The reslricled funds of Ihg charily comprlse the unexp&nded balances of donalions and grants held on trust subj8cI lo specific condiliDnS by donors as lo how they rnay be used. Movgment In funds Intomln Résources resources xp&ndod 8qlan¢• at 1 Aprll 2024 Tran8ler8 Balanctr at 31 March 2025 Spin81 Programmè Sports F8slivals Nalional JunloT Games Bruce Wake Euulpmenl Fund Edu¢allon Fund Sport England Programme Sports Events Fund Sports Development Officer Winlei Sports Fund Sports Hall Floor Rgd&velopm6nl Fund 2003 Legacy 43.636 14,712 75,481 24,375 19,758 3,520 5.534 73.583 6,300 50.700 (116,2331 117,880) 56.843) 55,509 8.014 56,495 11,146 69,338 (24,3751 4.389 19,7821 13,7801 1119,3141 14,365 1.148 5.131 7,980 110,493) 15,853 175,039 2,222,562 49.615 1,408 5.065 117,0201 16,4281 1931 113.846 25,000 30,000 (34.065) 19631 19,6351 {32D,0071 15451 17.009 184.674 2.542,569 50,160 2.981,426 303,818 1689,Q47) 21,980 2.618,179 -28- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Restrlcted funds IContinuod} The purpose of lh8 various ieslrlcled funds 15 as lollows.. S Inal Pro ramm To provide a mulli sport &venl for those with Spinal cord injuri&s wilhln the prèvious twelve months with teams drawn from the spinal unlls lft the UK and Eife. Providing pè8r manlors In splnal unils lo people who have beèn recently Injurad. Thèir work Includes taking part in sport, k88plng 1118nd help piogress rehabllilalion. S orts Festivals A lang8 01 age-relaled camps with the aim lo inlioduce chlldrgn and young adults lo a variety DI sports in a lun environment. National Junior Gamès To provide annually a mulli 8poII event inc1L￿Ing coaching and comp8lllion lor disabled children between Ihe ages 0111 and 18. Bruce Wake To support th& provision tsf spDrtlng opporlunilies through a piogramme o18POrts events. ui enl Fund To provide sports wheglchairs, specialised equipment, Iralnlng and facilllles for dlsabled men. women and hildren airning lo Inorea5e parlicipaliori In sport and provlde support through core aclivilies. To SL*PPOrt the National Wheelchair Fèncing Championships and provide eouipmenl and support foi training, coaching and officiating. Educallon Fund To piovidg sports education lo coaches through coursas and olhÈr appropriate m8ans. land Pro famme 5 year funding lor a sgnior Sports position lo provide strategic support 10 5POrt delivery organisalions wllh the aim lo allracl mDr8 adults with a dlsabilily lo increase and susl¥ln p8¥liclp8lion in sport. S orts Events Fund To support WheelPow8r sportg èvenl aclivilies. S Drts DÈvelo menl oificer Funding for a Spor18 Development Officer lo organi58 events & programmes lo Introduc8 dlsabled people Its sport. Wlnler S orts Fund To support the provision of sporting opporlunilies through a programm8 ol winl8r spotl8. S rts Hall Floor To support the Pfovision of a ngw sports hall floor al SM Sladium. R6dèvÈlo ment Fund 2003 Capllal appgal for the 2003 redevelopmenl of Stoke Mandeville Sladium being depreolalod over Ihg economic Ille of the buildings. For equlpmenl. training, OT alhleles from Ihfj g8og¥aphical area (Yorkshire) Iravelling io compÈlSllori. -29- THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Operatlng lease commltmenls Al th8 r8PDrtlng 8nd dale th8 company hod oulslanding commitments for future minimum lease payments under non-¢ancellable operatlng leases, whl¢h fall due as follows-. 2025 2024 Within one year Between Iwo and live ygars 540 1,800 3,483 581 2,340 4,064 Lessor Al the reporllng end dale the Charity had contracted wllh tenants lor the followlng mlnlmum lease payments-. 2025 2024 Within one year 24,000 24,000 22 Analysls of ngt assgts betW99n funds Unrestrlcted De51gnaled funds fund5 Reslrlcted funLIs Total Fund balances al 31 March 2025 are represented by.. Tangible assets Investments Curfenl 8ssels 597,565 307,390 (114,440) 2,399,737 2,997,302 307,390 604,002 500.00 218.442 790.515 500,000 2,618,179 3.908.694 23 Relatgd party transactlon$ There werg llo disc105able related party Iransaclions during the year12024 - nor¢èl. Remunerallon of key management personnel The remuneration of key managemenl personnel is as follows.. 2D25 2024 Remunerallon 101.388 100.549 THE BRITISH WHEELCHAIR SPORTS FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Control The Board of The Brilish Wh88lchair Sporls Foundatlon Limited are the ulllm818 Cont￿111￿9 paty of the charitable company. 25 Subsldlary D8lails of the Charity's subsldi8ry al 31 March 2025 afe as follows.. Name of undertaking Reglstered office Nature of bu81ness Class ol shares held 910 Hèld Dlrecl Indirect The Gullmann Sports and England & Wales Dofmanl L8isurè Centre Limited Ordinary loo.00 26 Cash (absorbed by}Igenerated from operations 2025 2024 Delicil lor the year 1431,223) 1211,5611 Adlu$lmentB for: Inveslrnenl income recognised in slalemenl Df financial acliviliès Fair value gains and loss85 on inveslments Deprecialion and impairmfynl ol langible flxed assets 131,7361 112,5561 382,854 132,9311 5,467 382,175 Movements In worklng capllal.. Ilncreaselldecreabe In dpblors Increaselldecreasel in creditors 133,0731 11,858 45,100 193.1771 Cash (absorbed byllgeneraled from oppralions 1113,8761 95,073 31