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← Midland Sports Centre For The Disabled Trust Limited

2025-03-31-accounts

MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED A COMPANY LIMITED BY GUARANTEE

Charity number 514391 Company number 01755462

INDEX TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

PAGE

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Company Information 1
,
Report ofthe Directors 2
Report ofthe Auditors 5
Statement of Financial Activities 8
Balance Sheet 9
NotestotheFinancialStatements 10

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MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2025

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DIRECTORS
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J. A. R. Mcintosh (Chairman)

P. D. Moorcroft T. J. Openshaw D. M. Twomey

SECRETARY

P.N. Breed

REGISTERED OFFICE

Xcel Leisure Centre, Mitchell Avenue, Canley, Coventry, CV4 8DY.

REGISTERED COMPANY NUMBER

01755462 (England and Wales)

REGISTERED CHARITY NUMBER

514391

AUDITORS

Dafferns Audit Limited, Chartered Accountants, One Eastwood, Harry Weston Road, Binley Business Park, * Coventry, CV3 2UB.

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BANKERS
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NatWest Bank Plc., Coventry City Office, 24 Broadgate, Coventry, CV1 12Z.

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MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST MARCH 2025

The Directors, who are also the Trustees, present their report with the financial statements of the charitable company for the year ended 31st March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was the provision of sports and leisure facilities for disabled - and able bodied persons in an integrated setting.

DIRECTORS

The Directors who have served during the year and since the year end were as follows:

ADMINISTRATIVE INFORMATION

The company is governed by its Memorandum and Articles of Association. Company Number: 01755462. The company is a registered charity (No. 514391).

CHARITABLE OBJECTIVES

;

These state that the overall objective is to provide and maintain facilities for the recreation and other leisure time occupation of disabled and able bodied persons.

POLICIES TO ACHIEVE OBJECTIVES

To promote for the benefit of the public the provision of sports facilities and opportunities through Coventry Sports Foundation and CV Life, who in turn deliver a range of inclusive experiences.

,

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MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST MARCH 2025

ORGANISATIONAL STRUCTURE

The Board of Directors are responsible for the operational and financial management of the Trust.

New Directors are recommended by individual directors and their appointment confirmed at a Directors’ meeting.

Upon the appointment of any new Directors, a full and bespoke induction process is planned in order to ensure complete familiarity and understanding of the Trust's objectives and operation and the roles and responsibilities of the Directors.

PAY AND REMUNERATION OF KEY MANAGEMENT PERSONNEL

The company employs no staff. The Company Secretary acts as its key management and oversees day to day activities through his role as Chief Executive Officer of Coventry Sports Foundation.

ACTIVITIES AND ACHIEVEMENTS DURING THE YEAR

The Trust continued to secure levels of charitable funding in support of its objectives.

The Trust also continued its rental and equipment leasing charges to Coventry Sports Foundation.

PLANS FOR THE FUTURE

The Trust will continue to work with Coventry Sports Foundation throughout the year to monitor the impact of the current economic and cost of living challenges, which are pressurising consumer spend and choices.

FINANCIAL REVIEW, RISKS AND RESERVES POLICIES

_ Theassetsresultscontinuefor theto beyearusedandforfinancialthe company’spositionobjectiveof the Trustof providingare shownsportsin theandannexedleisure facilitiesfinancialforstatements.the disabledTheandTrust'sable bodied:

The majority of the Trust's income is in rents received from Coventry Sports Foundation in respect of the Xcel Leisure Centre and the Trustees consider this income to be relatively secure for the future. In addition to this, the Trust receives an annual donation from one benefactor and the Trustees are conscious of the inherent risks that this presents, should funding from this source be reduced or withdrawn.

The Trustees are mindful of their responsibilities for the repair, replacement and renewal of any major capital items within the premises of the Xcel Leisure Centre and consider that the current level of free reserves of £764,006, being unrestricted investments and net current assets, is some way short of what would be required for any substantial capital works. Therefore, the Trustees are committed to building sufficient reserves to service future capital replacements that will be necessary to maintain the standard of its premises.

STATEMENT OF TRUSTEES'/DIRECTORS' RESPONSIBILITIES

The Trustees (who are also Directors of Midlands Sports Centre for the Disabled Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

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MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

REPORT OF THE DIRECTORS

. FOR THE YEAR ENDED 31ST MARCH 2025

STATEMENT OF TRUSTEES'/DIRECTORS' RESPONSIBILITIES (cont)

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other[jurisdictions.]

STATEMENT OF DISCLOSURE OF INFORMATION TO AUDITORS

We, the Directors of the company who held office at the date of approval of these financial statements, as set out above, each confirm so far as we are aware that:

AUDITORS

The auditors, Dafferns Audit Limited, have been appointed in the year ended 31 March 2025 and will be re-appointed at the forthcoming Annual General Meeting.

The report of the directors has been prepared taking advantage of the smail companies’ exemption of section 415A of the Companies Act 2006.

ON BEHALF OF THE BOARD:

J. A.R. Mcintosh - Director

Dated: 10° December 2025

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

We have audited the financial statements of Midlands Sports Centre for the Disabled Trust (the ‘charitable company’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

—

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit:

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement set out on page 3, the Trustees (who are also the Directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations,.or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

,

Auditor’s responsibilities for the audit of the financial statements (cont)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www. frc.org.uk/auditorsresponsibilities This description forms part of our auditor's report.

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Geoffrey Cox BA FCA (Senior Statutory Auditor) For and on behalf of Dafferns Audit Limited, Chartered Accountants, Registered Auditors One Eastwood, Harry Weston Road Binley Business Park, Coventry, CV3 2UB

Date: \O Demwke’ LO OS

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MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

‘

A COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)

FOR THE YEAR ENDED 31ST MARCH 2025

_

Unrestricted Restricted Total Total
funds funds 2025 2024
Notes £ £ £ £
Income and endowments from:
Donations and legacies 20,200 - 20,200 30,864
Rental income 78,652 - 78,652 76,556
Investments 2 22,464 - 22,464 23,178
Total income and endowments: 121,316 - 121,316 130,598
Expenditure on:
Investment Managers fees 3,396 - 3,396 3,354
Charitable activities 3 72,392 - 72,392 100,332
Governance costs 4 4,969 - 4,969 3,030
Total resources expended 80,757 - 80,757 106,716
Gain/ (loss) on revaluation ofinvestments 9 8,741 - 8,741 (38,917)
)
Net income / (expenditure) 49,300 - 49,300 (15,035)
Fund balances brought forward at 1st April 2024 9,869,620 - 9,869,620 9,884,655
Fund balances carried forward at
31stMarch2025 9,918,920 - 9,918,920 9,869,620

The notes on pages 10 to 15 form part of these financial statements

Charity Number 514391 Company Number 01755462

MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED ©

A COMPANY LIMITED BY GUARANTEE

BALANCE SHEET

AS AT 31ST MARCH 2025
, 2025 2024
Notes £ £ £ £
FIXED ASSETS:
Tangible assets 8 9,154,914 9,209,318
Investments
Cash awaiting investment		 9 432,789
11,586		 409,043
11,184
9,599,289 9,629,545
CURRENT ASSETS:
Debtors
Cash at bank and in hand		 10 3,531
358,747		 3,363
258,603
362,278 261,966
CREDITORS: amounts falling due
within one year 11 (42,647) (21,891)
NETCURRENTASSETS 319,631 240,075
NETASSETS 9,918,920 9,869,620
FUNDS: .
Restricted funds - -
Unrestricted funds: :
General funds 9,918,920 9,869,620
TOTALFUNDS 9,918,920 9,869,620

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with FRS102. .

The financial statements were approved and authorised for issue by the board on 10 December 2025.

ON BEHALF OF THETO J.[A.][R.] f-Mcintosh - loDirector pte

The notes on pages 10 to 15 form part of these financial statements

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  1. ACCOUNTING POLICIES:

MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

.

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

:

(a) General information and basis of preparation Midlands Sports Centre for the Disabled Trust Limited is a charity incorporated in England / Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal activities are to provide and maintain facilities for the recreation and other leisure time occupation of-disabled and able bodied persons.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Funds

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

;

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

c) Income recognition

Donations, grants and other voluntary Income

All donations, grants and other similar income are recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that income will be received, and the amount can be measured reliably. Such is income is only deferred when: . the donor specifies that the grant or donation must only be used in future accounting periods, or : the donor has imposed conditions which must be met before the charity has unconditional entitlement

Income from rental activities

Income from rental activities is included in the period to which the activity is provided.

Investment Income

Interest and investment income is recognised when receivable.

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:

MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

' FOR THE YEAR ENDED 31ST MARCH 2025

1. ACCOUNTING POLICIES (continued):

d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to : make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Governance costs, shown within professional fees, comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees.

e) Tangible fixed assets

Tangible fixed assets are capitalised and included at cost except for investment property which is included at valuation. Assets in the course of construction includes relevant development expenditure.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. The annual rates principally used are: Sports equipment - 20% straight line Fixtures and fittings - 20% straight line Office equipment - 33.33% straight line Motor vehicle - 20% straight line

;

The property is being held for the provision of social benefit and hence is to be classified as Property, Plant & Equipment.

The Trustees consider that Depreciated Replacement Cost is the most appropriate methodology for the valuation of Xcel Leisure Centre. Given the nature of the assets, the Trustees believe that there is no reliable market value information available for use.

f) Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

g) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

h) Operating leases

Rentals payable and receivable under operating leases are charged to the SoFA ona straight-line basis over the period of the lease. .

i) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

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MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

2.

INCOME FROM INVESTMENTS: Unrestricted Unrestricted Restricted Total Total
funds funds * 2025 2024
£ £ £ £
Bank interest receivable 3,661 - 3,661 3,409
Investment income 18,803 - 18,803 19,769
22,464 - 22,464 23,178
Interest receivable is wholly attributable to Unrestricted funds in the previous year. ;
EXPENDITUREONCHARITABLE:ACTIVITIES £ £ £ £
Depreciation 54,404 - 54,404 83,979
Insurance 17,984 - 17,984 16,346
Sundry expenses 4 - 4 7
72,392 - 72,392 100,332
Charitable expenditure is wholly attributable to Unrestricted funds in the previous year. .
GOVERNANCE COSTS: £ £ £ £
Professional fees 4,969 - 4,969 3,030
Governance costs are wholly attributable to Unrestricted funds in the previous year.
OTHER DISCLOSURES: 2025 2024
£ £
Net incoming resources is stated after charging:
Depreciation 54,404 83,979
Profit on disposal - -
Auditors’ remuneration:
- Audit services 1,825 1,735
- Other services 1,360 1,295
Trustees’ expenses - -
Directors’emolumentsandotherbenefitsetc. - -

No trustee (2024: none) received either remuneration or reimbursement of expenses during the year.

  1. TAXATION:

No liability to UK corporation tax arises on ordinary activities for the year ended 31st March 2025 nor for the year ended 31st March 2024.

  1. STAFF COSTS:

There were no persons employed by the Charity during the year.

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i

MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

8. TANGIBLE FIXED ASSETS:

Sports Centre
buildings		 Sports
equipment		 Office
equipment		 Fixtures
& fittings		 Total.
£ £ £ £ £
COST OR VALUATION:
At 1st April 2024 9,024,899 468,274 12,960 308,050 9,814,183
Additions
Disposals		 -
-		 -
:		 -
-		 -
_
-		 -
—__
At 31st March 2025 9,024,899 468,274 12,960 308,050 9,814,183
DEPRECIATION:
At 1st April 2024		 ——
-		 a
365,673		 ~~
12,960		 ~~
226,232		 —
604,865
Charge forthe year - 21,987 - 32,417 54,404
Eliminated on Disposals : : - —
=		 —_
At 31st March 2025 - 387,660 12,960 258,649 659,269
NET BOOK VALUE:
At 31st March 2025 9,024,899 80,614 - 49,401 9,154,914
At31stMarch2024 9,024,899 102,601 - 81,818 9,209,318

:

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;

MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

,

FOR THE YEAR ENDED 31ST MARCH 2025

9. INVESTMENTS: Listed investments
£
Valuation as at 1st April 2024 , 409,043
Purchases 178,684
Sales proceeds (163,679)
Revaluation 8,741
Valuation as at 31st March 2025 432,789
Investments at fair value comprise:
Fixed interest 127,551
Equities 206,625
Other 98,613
432,789
10. DEBTORS: Amounts falling due within one year: 2025 2024
£ £
Other debtors 3,531 3,363
3,531 3,363
11. CREDITORS: Amounts falling due within one year: £ £
:
Trade creditors 4,137 2,593
Other creditors 2,825 3,768
Accruals 3,185 3,030
Deferred Income 32.500 12,500
42,647 21,891

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MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

12. DEFERRED INCOME:

DEFERRED INCOME:
2025 2024
£ £
Balance 1 April 2024 12,500 12,500
Released (12,500) (12,500)
Additions 32,500 12,500
Balance 31 March 2025 32,500 12,500
Due within one year 32,500 12,500
Due within 1-5 years - -
Due after 5 years - -
12,500 12,500

Income has been deferred in respect of rental income and grants received in advance.

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS:

Fund balances at 31st March 2025 are represented by:

Unrestricted Restricted Total
funds funds funds
£ £ £
Tangible fixed assets 9,154,914 - 9,154,914
Investments 444 375 = 444 375
Net current assets 319,631 - 319,631
Total net assets . 9,918,920 - 9,918,920
RELATEDPARTYTRANSACTIONS: .
  1. RELATED PARTY TRANSACTIONS:

There are no related party transactions during the year (2024: £nil).

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.

  1. OPERATING LEASE COMMITMENTS:

MIDLAND SPORTS CENTRE FOR THE DISABLED TRUST LIMITED

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

Lessor

Sports equipment was leased to Coventry Sports Foundation from 1 February 2019 to 1 February 2024. The rent receivable is £26,556 per annum. A rental holiday was agreed in response to the global pandemic to cover the period sports centres were closed and an additional six months has been added to the lease term to reflect this; lease expired 1 August 2024.

The Xcel Centre has been leased to Coventry Sports Foundation until 31 March 2033. The rent payable is £50,000 per annum.

Minimum lease receivables under non-cancellable operating leases fall due as follows:

2025 2024
; £ £
<1 year 65,840 8,852
1-5 years 244,880 -
>5 years 150,000 -
460,720 8,852
  1. FUNDRAISING REGULATOR STATEMENT OF COMPLIANCE:

Midland Sports Centre for the Disabled Limited does not contract to a third party to undertake any fundraising on its behalf. The charity does not employ a Fundraising Officer. We have received no fundraising complaints during the year.