COVENTRY SPORTS FOUNDATION A COMPANY LIMITED 8Y GUARANTEE Charity number 700409 Company number 02239584 INDEX TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 PAGE Company Information Report of the Directors Independent Audilorfs Report Consolidated Statement of Financial Activities 10 Group and Charity Balance Sheet 11 Consolidated Slalernent of Cash Flow 12 Notes lo the Consolidated Financial Slalemenl$ 13 Trading Account 24 AEHM471R 1711212025 COMPANIES HOUSE A10
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COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE COMPANY INFORMATION FOR THE YEAR ENDED 31ST MARCH 2025 DIRECTORS A. M. Shaw {Chaiman) Z. J. Edwards J. Horrabin A. Maqsood O. R. Moorcroft R. S. Wildman SECRETARY P. N. Breed SENIOR LEADERSHIP I MANAGEMENT TEAM P. N. Breed (Chlef Executive Officer) S. D. Wiles (Chief Operating Officer) S. Terblans (Finance Director) J. Murphy (Corporate Slfalegy Director) E. O'oonnell (Social Impact Director) K. A. Healion (Head of Operations) W. A. Jackson (Head of Community Development) C. Panler (Head of Wellbeing) M. Condillac (Head of Finance) L. Bowell (Head of Human Resources) A. Surey (Head of Marketing and Communic81ions) S. Kaur Sahola (Head of Corporate Programmes) J. Biggins {Head of FacFlites Management ) G. John (Head of Commercial and Business) REGISTERED OFFICE Xcel Leisure Cenlre, Mitchell Avenue, Canley, Coventry, CV4 80Y. REGISTERED COMPANY NUMBER 02239584 (England gnd Wales) REGISTERED CHARITY NUM8ER 700409 AUDITORS Dafferns Audit Limited. Chartered Accountants, One Eastwood, Harry Weston Road Binley Business Park 8inley Coventry CV3 2U8. BANKERS Natwesl Bank Plc., Coventry City Office, 24 Broadgate, Coventry. CV1 1ZZ. SOLICITORS Brindley Twist Tafft & James LLP Lowick Gale Siskin Drive Coventry CV3 4FJ
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE DIRECTORS FOR THE YEAR ENOED 31ST MARCH 2025 The Oireclors, who are also the Trustees. are pleased to present their report, together with the financial statements of the charitable company for the year ended 31 sl March 2025. PRINCIPAL ACTIVITY The principal activity of the company in the year under review was that of providing leisure activities and programming recrealion and physical educalion to under-repsenIed communities. DIRECTORS The directors who have Seed during the year and since the year end were as follows.. M. A. Shaw Ichairnian) D. R. Moorcroft R. S. Wildman Z. J. Edwards J. Horrabin A. Maqsood ADMINISTRATIVE INFORMATION The company is governed by ils Memorandum and Articles of Association. Company Number.. 02239584. The cornpany is a registered charity (No. 700409). CHARITABLE OBJECTIVES These stale that Ihe overall objectNe is to provide facilities for recreation. physical education or other leisure time occupation in or in connection with the City of Coventry, POLICIES TO ACHIEVE OBJECTIVES Coventry Sports Foundation operates and promotes for the benefit of the public various programmes and projects in 811PPOrt of ils objects.. Centre AT7., the Xcel Leisure Centre., the Alan Higgs Centre; and the Moat House Leisure and Neighbourhood Centre - community leisure and recreation centres that specifically programme an¢J price activitie5 to attract participation Irom under-represented groups in identified areas of deprivation within Coventry. The Wave - the destinalion waterpark venue in the city centre, which combines the waterpark attraction with fitness and health facilities, which are accessible under th8 same terms as the other community facilities operated by the Foundation. In addition lo the facility-based provislon of sport Irom ils facilities. the Foundation provides opportunities and experiences through a number of initiatives and outa¢h programmes.. Go CV - Coventry Sports Foundation has worked with Coventry City Council lo develop, lest and rnplement a city wide access and loyalty scheme. which seeks to provide beneficial use lo people from Coventry. Community Development- the Foundation is unique in so far as it internalises the fundion of Community development within a specific department. to ensure that a wide range of sports. activity and performing arts programmes are SearChed, programmed and delivered at a neighbourhood level. Access- the Foundation delivers numerous events, toumaments and coaching programmes for disabled groups and individuals, along with activities lo ensure that access to physical activity and well-being programmes reaches Ihose that are most under represented. The Trustees have had regard to the Charity Commission for guidance on public benefit.
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 ORGANISATIONAL STRUCTURE The Board of Directors retain the ultimate control and decision-making authority and delegate day to day management responsibilities to the Chief Executive. who leads a Senior Management team in the operational and seprfice delivery. The Board meet quarterly and more frequently when required. New Directors are recommended by individual Direclors and their appointment confirrned at a Directors, meeting. All new Directors are piovided with an induction lo the company and associated training in key areas of responsibility. Senlor management remuneralion The Directors consider annually the pay and muneralion of the charity's Senior Management team by benchmarking within the industry. ACTIVITIES ANO ACHIEVEMENTS DURING THE YEAR During the 2024r25 financlal year. Coventry Sports Foundation sustained a strong operational and financial performance despite significant economic headwinds, inflationary pressures, and Challenging market conditions across the sedor. The group's net bottom line showed a surplus of £1.110.960. This however included the revaluation on investment surplus of £49,842, and a Sport England capital grant for major eleclricily efficienGy works of £738.760. The Trading surplus was therefore £322,358. The Foundation's cash fl¢)w position remained positive and continued to meet the targets set within the Risks and Reserves Policy. Participation across the Foundation's portfolio of facilities and programmes remained high, with there being an overall growlh in participation from 2.2 million usages lo a total of 2.4 million usages - an increase of 5.930/0 on Ihe previous year. Lilestyies Health & Filn8ss membership reached 15.768 by year end - a 10010 increase on the previous year- with attrition rates reduced lo under 40/0 for the first lime. A strengthened corporate membership package. which combined leisure and cultural benefits. was successfully launched and now accounts for 6.90h of total membership. The Aquarius Leam to Swim programme grew to 3.560 participants, filling 91 /0 of available capacity. This expansion was supported by a Swim England-led review of pool usage, resulting in revised pool schematics and additional lesson provision al Centre AT7. The Education Swimming programme maintained strong school engagement. wothing with 60 schools across lour siles and launctting a partnership with Swim England to deliver'swim Safe. _ a nalional water safety initiative providing free. high-quality outd¢)or swimming and safely sessions. The inlroduclion of the 'Swimphony' sofvare provided partiapating schools with accurate, real-time attainment data lor pupils, enhanong both reporting and teaching qualily. Community Development activity made significant contributions to the Foundation's charitable aims. The Coventry Moves project maintained partnerships with six local Ca homes and broadened ils outreach through collaboration with West Midlands Police. secunng new strategic links such as with Vernon Court. The pla¢e-based Go projects in Canley and Willenhall progressed towards embedding local leadership and unlocking community assets to increase opportunities for physical activity. particularly in health and wellbeing The Holiday Activities and Food (HAF) programme delivered activities to 4,205 young people across the 4 community leisure cenlres. This wa5 SUPPOrted through a total of £248.328 funding from Coventry City Council. and was delivered through Easter. Summer and Winter school holidays. The Foundation continued to invest in quality assurance and customer experience. Quest accredilalion remained a key benchmark for venue and service quality, with the Wave following the pVIouS successes of tK)Ih Moat House Leisure and Neighbourhood Centre and Centre AT7, by achieving a'very Good- rating, with just the Xcel Leisure Centre scheduled for assessment at year end. The Mana Spa was awarded Spa ol the Year al the English Hair & Beauty Awards for the third consecutive year. recognising excellence in seNice and diversity of offer. The perfomiance of the Spa also returned lo industry benchmark occupancy and membership levels. Environmental sustainability advanced through the delivery of £738k of Sport England - Swimming Pool Support Fund investment across three major sites. This prograrnme included solar panel installations at the Alan Higgs Centre and Centre AT7,. LEO lighling upgrades at Xcel Leisure Centre; and a new Building Management System to improve operational efficiency. These measures are projected lo deliver annual savings of approximately £142k. Alongside Ihis. the Foundation worked with Nature Posilive as environmental consullants lo complete environmental site audits, slaff engagement exercises, and a baseline carbon footprint assessment. establishing a plarfomi for measurable future carbon reduction targets.
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 ACTIVITIES AND ACHIEVEMENTS DURING THE YEAR (cont...) Partnership working continued lo grow. with new collaborations fomied with Coventry University. Positive Youth Foundation. Grapevine, NHS partners, and Healthy Lifestyles Coventry. These partnerships enabled the development of innovative health and wellbeing programmes, including the scheduled launch of an NHS musculoskeletal physiotherapy pilot clinic al Centre AT7 in summer 2025. The Foundation also continued to play a role in hosling high.profile events that raise the uly's profile and bring communities 109elher. The British Kabaddi Super League Fesfiv81 streamed live on BBC iPlayer, attracted thousands of spectators and significant online audiences. The Junior British Pafa-swimming Championships returned lo Ihe Alan Higgs Centre, reinforcing ils reputation as a national-slandard venue for competitive sport. The year ahead will continue to provide some of the most significant challenges faced by Coventry Sports Foundation. as ongoing budget announMentS relating to the costs of employment are conb'nuing to impact dramatically on Programme delivery - not just through the increased costs lo be incurred inlemally within the company,. but also through the cost of living impact and the discretionary spend available lo people as they prioritise their spend. In particular, the Coventry City Centre South fedevelopmenl project - for which the demolition has begun - is anticipated to reduce footfall in the city centre and impact attendances to The Wave Walerpark. As always, the Trustees would like lo record their appreciation to the teams from across the Foundation lor their continued endeavour lo provide suth a broad and meaningful programme of activity and experiences, amidst the significant challenges being presented to all businesses within the current economiG dimale. Fundlng Sources & How They Support Key ObjectiV•8 Th8 maionly of income in the Foundation comes from sports, recreation and leisure activities. which is normally more than sufficient lo cover th8 expenditure incurred. Other Significant sources of income include grants and donations, investment income and income from other trading aclivilies. Related parties relationships There are no related party transactions. Invesbnonts Surplus funds are placed wilh professional inveslment advisors and invested in low-risk investments. To date the return has been significantly better than holding monies on deposit with banks. The performance is reviewed on a regular basis. The inveslments comprise 8qUlties, fixed Inte51 treasury bonds 8nd property as detailed in note 12. FINANCIAL REVIEW The results for Ihe year and the finanaal position of the company are shown in the annexed financial stalemenls. Incoming resources this year increased by £913,343 10 £12,250,331. Total resources expended were £11,189,213, an increase of £502,232. The net result was a surplus of £1,061,118 before a gain of £49.842 on the revaluation of investments to give Nel Income of £1.110,960. When added lo the fund balance brought loard of£2,984,195 at 1stApril 2024 this gives a surplus balance of £4,095,155 of which £17,098 is reslricled. The Balance Sheet shows net current assets of £861.790. The cash balance of £1,699.783 is £294,538 lower than 2024. The company's assets continued lo be used for the company's objeclives of providing facilities for recreation. physical education and leisure lime occupations. The company continues to be grateful for the generous support that it receives from its major sponsors and donors. The Directors consider that the company has sufficient funds to meet its objeclives. Key Perforniance Indicators Company progress is measured against Key Performance Indicators that relate to both financial and impact indicators both quanlitively and anecdotslly- including membership numbers, footfall. activity participation along with the irnpact Ihat programmes have made to people's lives. RISKS AND RESERVES POLICIES The Direclors are conscious that the main risk lo the company arises from the income generated through the use of the facilities at the respective venues, which will be increasingly challenging within the current econofflic climate and the pressures on cost of living for people making Chols. This risk is continually identified and monitored through a Risk register and close scrutiny of monthly Management Accounts.
COVENTR Y SPORTS FOUNDATION A COMPANY LIMITEO BY GUARANTEE REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 The Oireclors consider thal the total Reserve required fufKling to meet potential contingencies amounts to approximately £4.1 million equating to 9 months of payroll. ReseThes are defined as investments plus net current assets. which in 2025 were £2,987,342, being still beneath target. TRUSTEE I DIRECTOR INOEMNITY INSURANCE The Foundation holds insurance lo indemnify the Trustees l Directors against the consequences of any neglect or default in Iheir part. PLANS FOR THE FUTURE In the year ahead, Coventry Sports Foundation will focus on consolidating ils strong operational perfomance while progressing developments that strengthen community impact, environrnenlal sustainability, and financial resilienGe. The Foundation will publish its first Annual Impact Report, drawing together statistical evidence and 'people stories. lo demonstrate the oulcomes and impact of ils programffles. Delivery of the Environmental Sustain8bility Action Plan will move forward, informed by the baseline carbon footprint completed this year, with further investment in energy efficiency pursued where funding permits. Work with NHS partners will expand, including the launch and evaluation of a musculoskeletal physiotherapy clinic at Centre AT7, alongside the continued development of referral programmes aimed at improving health and wellbeing in priority communities. Core programmes such as the Aquarius Leam lo Swim and EduCa1rt Swimming initiatives will b8 further developed lo increase capacity and extend water safely provision. Membership growth and retenlion will remain a priorlly. supported by the enhancement of corporate membership offers and ongoing improvements lo customer service, Plans for investment in digital systems, including a new CRM and integrated lickeling, will underpin operational effiuency and provide deeper insight into participation trends. The Foundation will also continue to maintain and improve quality standards through the Quest accredilalion process and will seek opportunities to attract further high-profile events to its facilities, ensuring they remain vibrant, accessible hubs for sport and activity across the rity. GOING CONCERN The charity currently has a good level of liquidity which the Trustees consider sufficient to see the company through any polenlial implications. Based on these a55essmenls Ihe Iruslees have a reasonable expectation that the company has adequate resour¢e$ to continue for the foreseeable future, as a result the going concem assumption continues to be adopted in the preparation of ffinanci81 stalemènls. STATEMENT OF TRUSTEES'IDIRECTORS. RESPONSIBILITIES The Trustees (who are also Oirectors of Coventry Sports Foundation for the purposes of company law} are responsible for preparing the Truslees. Annual Report and the financial slalemenls in accordance wrth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law require5 the Trustees to prepare financial statements for each financial year. which give a true and fair view of the slate 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 Ihal period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charilies SORP (FRS 102)., make judgements and eslimales that a reasonable and prudent., stale whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial stalemenls.. prepare the financial slatefnents on the going concem basis unless it is inappropriate to presume that the Gharilable company will continue in operation. The Trustees are responsible for keeping adequate a¢Unting records that dis¢105e with reasonable accuracy at any time the financial position of the ¢haritable 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 hen for taking reasonable steps for the prevents'on and detection of fraud and other irregularrties. The Trustees are responsible for the maintenance and inlegnty of the corporate and financial information included on Ihe charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 STATEMENT OF DISCLOSURE OF INFORMATION TO AUDITORS We. the Directors of the company who held office at the dale of approval of these financial statements. as set out above, each confirm so far as we are aware that.. there is no relevant audit infomialion of which the company's auditors are unaware.. and we have taken all the steps that we ought lo have taken as Directors in order to make oUrsee5 aware of any relevant audit information and lo establish that the company's auditors are aware of that infornation. AUDITORS The auditors, Daffems Audit Limited. will be re-appointed at the forthcoming Annual General Meeting. This report has been prepared in accordan with the Special provisions of Part 15 of the Companies Act 2006 relating to small companies. ON BEHALF OF THE BOARD: 61w . Dlfector Daled.. 11yTh December 2025
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE We have audited the financial statemenls of Coventry Sports Foundation (the 'parent charitable company,) and its subsidiary (the 'group'l for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Group and Charity Balance Sheets, the Consolidated Statement of Cashflows 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.. give a true and fair view of the slate of the group and the parent charitable company's affairs as at 31 March 2025, and of the group and the parent charitable company's incoming resour$ and application of resources, induding its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Arxounling Practice: and have been prepared in accordance with the qU1mentS of the Companies Act 20¢. 8a818 for opinlon We conducted our audit in aCrdanCe with International Standards on Auditing {UKI {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial 8lalements section of our report. We are independent of the group and the parent 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 fvlfilled our other ethical responsibilities in accordance with these qUIrements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons rnlatlng to golng concern In auditing the financial slalemenls, we have rAncluded th81 the trustees. use of the going concern basis of acoiunling 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 Gast Signifint doubt on the group's or Ihe parent charitable Gompany's ability to continue as a going concern for a period of al least e1ve months from when the financial statements are aulhorised for 18SU8. Our responsibilities and the responsibilities of Ihe trustees with respect to going concern are described in the relevant sections of this report. Other infonnation The Trustees are responsible for the other infomiation. The other information comprl$e$ the information included in the Trustees, annual report, other than the financial statements and our audilorfs report Ihereon. Our opinion on the financial slalements does not cover the other infomalion and. except lo the extént olhernise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to ad the other infomation and, in doing so. consider whether the her information is materially inconsistent with the financial statements or our knowledge obtained in the audit or olheThvise appears to be materially misstated. If we identify such malenal inconsistencies or apparent malerial misstalemenls, are required to determine whether there is a material misslatemenl in the financial statements or a rnalerial mlsslalemenl of the other information. If. based on the work we have performed. we conclude thal there is a material misslalemenl of this other information, we are required lo report that fact. We have nothing to report in this regard. Opinions on other matterd prescribed by the Companle8 Act 2006 In our opinion. based on the work undertaken in Ihe course of the audit.. the information given in the Trustees. report (incorporating the Directors. report) for the financial year for which the financial slatemenls are prepared is nSIstenI with the financial stalemenls., and the Directors, report has been prepared in accordance with applicable legal requirements.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE Matter8 on which wo are requlrnd to report by exception In the lighl of our knowledge and understanding of the group and the parent charitable company and ils environment obtained in the course of the audit. W8 have not identified material misstatements in the Directors, pOrt. We have nothing to report in respect of the following matters in relab.on lo which the Companies Act 2QM requires us to report to you rf, in our opinion.. adequate arxounting records have not been kept, or returns adequate for our audit have not been ceiVed from branches not visited by us; or the finanaal statements are not in agreement with the eccounling records and returns., or certain disclosures of Directors, remuneration speciffied by law are not made.. or we have not received all the information and explanations we require for our audit. Respon8ibilitie8 ol Tru8tee• As explained more fully in the Trustees, responsibilities slalement sel out on page 5, the Tru51ees (who are also the Directors of the group and the parent tharitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a tnje and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free frorn material misslalement. whether due lo fraud or error. In preparing Ihe financial stalements, the Trustees are responsible for assessin9 the group and the parent charitable company's ability lo contlnue as a going concern. disclosing. as applicable, matters rèlated lo going concern and using the going concern basis of accoLsnting unless the Trustees either intend to liquidate the group and the parent charllable company or to &8ase operations, or have no realistic alternative bul lo do so. Auditor's respon8ibilitie8 for the audit of the financial statements Our objeGti¥es are lo obtain reasonable assurance about whether the financial statements as a whole are free from malenal misslatemenl, whether due to fraud or error, and lo issue an auditor's report that indudes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance wrth ISAS (UK) will always detect a material misslalemenl when il exists. Misstglemenls can arise from fraud or error and are considered material if. individually or in the aggregale, they could reasonably be expected to influence the economic decisions of users taken on Ihe basis of these financial slalements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo delecl malerial misslalements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irre9ularities, including fraud is detaile¢J below.. Enquiry of management, and those charged with governance around actual and potential liligalion and claims; Enquiry of entity staff in compliance functions lo identify any instances of non•compliance with laws and regulations; Reviewing fflinutes of meetings of those charged with govemance; Reviewing financial statement disclosures and testing to supporting documentation lo assess Complian with applicable laws and regulations. Performing audit work over the risk of managemenl override of controls, including testing of journal entries and other adiuslmenls for appropriateness. evaluating the business ralionale of significant transactions outside the normal course of business and reviewing a¢counting estimates for bias
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE Auditor's responsibilities for the audit of the financial statements lcont) Because of the inherent limitations of an audil. there is a risk thal we will nol delect all irregularities. including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that Complian with a law or regulation is removed from the events and Iransactions refleded in the financial statements, as we will be less likely lo berne 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 misrepresentslion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Repc>rting Council's website at.. www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. This report is made solely lo the group and the parent charitable company's membets, as 2 body, In accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the group and the parent charitable company's members those matters we are required to state lo them in an audilorfs report and for no other purpose. To the lullest exlenl permitted by law. we do not accept or assume responsibility to anyone other than the group and the parent charitable company and the group and the parent charitable company's members as a body, for our audit work. for this report, or for the opinions we have formed. Geoffrey Cox 8A FCA (Senior Slalulory Auditor) For and on behalf of Dafferns Audit Limited, Chartered Accountants, Registered Auditors One Eastwood. Harry Weston Road Binley Business Park. Coventry. CV3 2U8 Dale.. lo
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE CONSOLIDATEO STATEMENT OF FINANCIAL ACTIVITIES {Including Income and Expenditure Account) FOR THE YEAR ENDED 31ST MARCH 2025 Unrestrlcted funds Restricted funds Total 2025 Total 2024 Notes Income and endowments from: Donations and legacies 776,023 776,623 280.349 Charitable activities.. Income from sports and leisure actNlties 10.619,283 248,328 10,867,611 10,506.221 Other Ifading activities 470.987 470,987 397,986 Investments 135.110 135,110 152,432 Total income and endowments 11,225.980 1.024.351 12,250,331 11,336,988 Expenditure on: Raising lunds - Investment Managerfs fees 16,405 16,405 15,599 Charitable activilies Cost of operation of sports and leisure actlvilles 10.864,945 307.863 11,172,808 10,871,292 Total expendltur• 10,881,350 307,863 11,189.213 10.686,891 Not income I (expenditure) 344,630 716.488 1,061,118 650,097 Transfers bebNeen funds 738,760 (738,760) 1,083,390 (22,272) 1,061,118 650.097 Gainl(Iosg) on revaluation ol Inve8trnents 12 49,842 49.842 (61.332) Net Incom•l{?xpendlturn) 1,133,232 (22,272) 1,110,980 588,785 Fund balances brought fopward at 1st April 2024 2,944,825 39,370 2.984,195 2,395,430 Fund balances carried forward al 31 st March 2025 19 4.078.057 17.098 4,095,155 2,984,195 The notes fomi part of these financial statements 10
Charity number 7QKM09 Company number 0223954 COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE GROUP AND CHARITY BALANCE SHEETS FOR THE YEAR ENDED 31ST MARCH 2025 Group Charity 2025 2025 2024 2024 Notes FIXED ASSETS: Tangible assets Investments Cash awaiting investment 11 12 1.090,715 2.135,072 7,578 206,153 2,003,959 31,104 1.090,715 2,135,072 7,578 206.153 2.003.959 31,104 3,233,365 2,241,216 3.233.365 2.241,216 CURRENT ASSETS: Stocks Debtors Cash at bank and in hand 27,453 1,063.995 1,699,783 22,468 700,753 1,994,321 27,453 1,066,423 1.664,281 22,468 700.753 1,994,321 13 2,791,231 2,717,542 2,758,157 2,717,542 CREDITORS: amounts falling due within one year 14 1,929.441 1,974,563 1,929,441 1.974.563 NET CURRENT ASSETS 861,790 742,979 828,716 742,979 NET ASSETS 4,095,155 2,984.195 4,062,081 2.984,195 FUNDS: Unrestricted funds: Designated fixed asset funds Geneial funds 1.090,715 2.987.342 206,153 2,738,672 1,090,715 2,954,288 206,153 2,738,672 4,078,057 17.098 2,944,825 39,370 4,044,983 17,098 2.944,825 39,370 Reslricted funds 18 4.095,155 2,984,195 4,062,081 2.984.195 These acGounls are prepad in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constilute the annual accounts required by the Companies Act 2006 and are for circularisation lo members ofthe company. The financial statements were approved and authorised for issue by the Board on 1 Oth De[ber 2025. ON BEHALF OF THE BOARD: . Director The notes form part of these financial statements 11
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2025 2025 2024 C•sh flows from operating activities Net movement in funds for the year Depreciation Interest received Dividends from investments Revaluation (gains) I losses from Investments Decreasel{increasel in stocks Decreasel{increasel in debtors Increasel(decreasel in Greditors 1,110,960 41.774 (60,9601 (74,1501 {49.8421 {4,985) (363,2421 (45.122) 588.765 22,068 156.724) (95.708> 61,332 (3,400> (162.468) 352,359 Net cash flows from operating activilles 554.433 706.224 Cash flows from Investing activities Interest received Dividends received Payments lo acquire fixed assets Payments to acquire investments Sales proceeds investments Proceeds from disposal of fixed assets 60.960 74.150 (941,417) (858.000) 776,729 15.081 56.724 95.708 (200,010) (759,6441 526.033 Net cash flow from investing activities {872,497) (281,189) Net Increase In cash and cash equlvalents (318,064) 425,035 Cash and cash equivalents at 1•1 April 2024 2,025,425 1,600,390 Cash and cash equivalents at 3111 March 2025 1.707,361 2,025,425 Cash and cash equivalents Conslsts of: Cash at bank and in hand Cash awaiting investment 1.699,783 7,578 1.994,321 31,104 Cash and cash equivalents at 318t March 2025 1.707.361 2.025,425 Analysis of changes In net debt 2024 Coshflows 2025 Cash and cash equivalents 2,025,425 (318.064) 1,707,361 Tolal net debt 2,025,425 (318,064) 1,707,361 The notes form part of these financial slatemenls 12
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED 8Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES: al General information and ba818 of preparation Covenlry Sports Foundation is a charity incorporated in Englandiwales. In the evenl of the charity being wound up. the liability in respect of the guarantee is limited to £1 per member of the chaflty The address of the registed office is given in the charity information on page 1 of these financial slalemenls. The nature of the charity'$ operations and principal aGlivilies are to provide facilities for recreation, physical education or other leisure time occupation in or in connection with the City of Coventry. The charity Gonstilutes a public benefit entity as deffined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounls 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 Uniled Kingdom and Republic of Ireland (FRS 102). the Charilies Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting PraGlice. The financial slatemenls ar8 prepared on a 90ing concern basis under the historical cost convention, modified lo include certain items al fair value. The financial statements are presented in sterlin9 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 sel out below. These policies have been consistently applied to all years presented unless otherwise staled. bl Basis of consolidation The group financial ststements consolidate the financial slalements of the ¢haiity and its subsidiary. The consolidallon is carried out on a line -by- line ba$i$. Balances and transaclions beeen the chanly and ils subsidiary are eliminated. c) Funds General funds are unrestricted funds which are available for use 81 th8 discretion of the Trustees in furtherance of the general objectives of the charity and whith have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is sel out in the notes to the financial stalemenls. 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 oul in the notes lo the financi81 slalements. dl Income recognitlon Donations. grants and other similar Income All donations. grants and other similar income are recognised when the charity has entitlement to the funds. any performan Conditions attached lo the ilem(s) of income has been mel. it is probable that income will be received, and the amount can be measured reliably. Such income is only deferred when.. The donor specifies that the grant or donation must only be used in future a¢untIng periods., or The donor has imposed conditions which mu51 be rnet before the charity has unconditional entitlement. Activities for generating funds Income from activities for generating funds is induded in the period in which the charity is entitled lo receipt. Income from 8POrts and leisure activitie8 Income from sports and leisure activities is included in the period in which the activity is provided and is excluding value added tax. Inveslment income Interest and investment income is CogniSed when re1¥able. 13
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31ST MARCH 2025 Accounting policies: (continued} el Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the cate90ry. 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 amounl of the obligation can be measured reliably. It is categorised under the following headings.. Costs of raising funds., Expenditure on Charitable activities., and Other expenditure represents those items not falling into the categories above. Allocation of support co8t8 Support costs include central functions and have been allocated lo activity Cost categories on a basis Consistent with the use of reSoUrs. Support costs include back office costs, personnel and payroll. Irrecoverable VAT Irrecoverable VAT is included as a separate cost within costs of the sports and leisur8 aclivilies. Governance costs Governance costs Gomprise 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 fj Tanglble fixed assets Tangible fixed assets are capitalised and included at cost except for investment property which is included al valuation. Assets in the course of construction includes relevant development expenditu. Dep cralion is prOVed al the following annual rates in order to write off each asset over ils estimated useful lile. The annual rates principally used are.. Alterations to leasehold premises Plant and machinery elc over the uneXpld period of the lease 20°h straight line and 33.30/0 Straight line gl Investrnents Investments are recognised initially al falr value which is normally the transaction price exduding transaction osts. Subsequently. they a measured al fair value with changes recognised in 'net gains l {losses) on inveslmenls, in the SOFA if the shares ar8 publicly traded or their fair value can othe+S8 be measured rellably. Other investments are measured al cost less irnpairrnent. h) Stock Stock is valued al the lower of cost and nel realisable value. i) Debtors and ¢reditors receivable I payable within one year Debtors and credilors 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. J) Operating leases Rentals payable and receivable under operating leases are charged to Ihe SOFA on a straight line basis over the period of the lease. k) Employee benefits When employees have rendered serrfice to the charity. short-teTm employee benefits to which Ihe employees are enlilled are recognised at the undiscounted amount expected lo be paid in exchange for that seryice. The clprity operates a defined contribution plan for the benefit of ils employees. Contributions are expensed as they become payable. 14
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Accounting policies: (continued) 11 Tax The company is a registered Gharity and a5 such is entitled lo certain tax exemptions on income and gains to the extent that these ale applied to ils Charilable adivilie5. m) Going Concern The financial slalements have been prepared on a going concern basi5 as the trustees believe that no material uncertainlies exist. The trustees have considered the level of funds held and the expected level of income and expenditLJre for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. PARENT CHARITY STATEMENT OF FINANCIAL ACTIVITIES Unrestricted lunds Restrlcted funds Totsl 2025 Total 2024 Notes Income and •ndowment8 from.. Donations and legacies 776,023 776,023 280,349 Charitable activities.. Income froffl sports and leisure activities 10,619,283 248.328 10.867,611 10,506,221 Other trading activities 395,387 395.387 397,986 Investments 135.110 135,110 152,432 Total Income •nd gndowments 11,149,780 1,024.351 12.174.131 11,336,988 Expenditure on: Raising fvnds- Investment Managerfs fees 16,405 16.405 15,599 Charitable activities Cost of operation of sports and leisure activities 10,821,819 307,863 11,129,682 10,871.292 Total expèndltur• 10.838.224 307,863 11,146,087 10,686.891 Net income l (expenditure) 311,556 716,488 1,028,044 650.097 Transfers belween funds 738,760 {738.7601 1,050,316 (22,2721 1,028,044 650,097 Gainl(lo$$) on revaluatlon ol Investrnents 12 49,842 49,842 (81,332> Net incomel(expenditure) 1.100.158 (22,272) 1,077,886 588,765 Fund balances brought forward at 1st April 2024 2.944,825 39.370 2,984,195 2,395,430 Fund balances carried fovward at 31 st March 2025 19 4.044.983 17.098 4,062,081 2,984.195 15
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 GRANTS AND DONATIONS: Group 2025 2024 Engage grant Sports England Swimming Pool Support Fund Other grant5 and donations 37,263 738,760 600 39,516 240,833 776.623 280.349 Income from grants and donations was £776,623 (2024.. £280.3491 of which £776,023 (2024.. £39.516) was attributsble lo restricted funds and £600 {2024.' £240.833) was attnbutable to unrestricted funds. Charity 2025 2024 Engage grant Sports England Swimming Pool Support Fund Other grants and donations 37.263 738,760 39,516 240.833 776.023 280,349 Income from grants and donations was £776,023 (2024.. £280,349) of which £776,02312024'. £39,516) was attnbulable lo restricted funds and £nil12024: £240,833) was attnbutable to unrestricted funds INCOME FROM SPORTS AND LEISURE ACTIVITIES: Group & Charity 2025 2024 Sports Centre Activities Perfomiance related grants Bar takings Catering income Vending machine income Leisure training Management fees ServiGe fees 9,951,040 470.233 236,599 132,512 74.238 2,989 9.448.284 484.295 263.572 159.380 59.521 2.387 13,182 75.600 10.867.611 10,5C6.221 Income from sports and leisure activities was £10.867.611 {2024'. £10,506,221) of which £248.328 (2024.. £350.5811 was attributable lo restricted funds and £10,619,283 (2024.. £10,155,640) was attributable to unrestricled funds. 16
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 INCOME FROM OTHER TRADING ACTIVITIES: Group 2025 2024 Rental income Room hire Car boot sales Miscellaneous income Management fee income 128.667 151,522 15,070 128 175,600 170,449 114,849 12,557 131 100.000 470,987 397,986 Income from other trading activities was wholly attributable lo unreslricled funds in the current and prior year. Charity 2025 2024 Rental income Rooffl hire Car bool sales Miscellaneous income Management fee income 128,667 151.522 15.070 128 100,000 170,449 114,849 12,557 131 100,000 395,387 397,988 Income from other trading activities was wholly attributsble to unrestricted funds in the current and pnor year. INCOME FROM INVESTMENTS: Group & Charity 2025 2024 Inveslmenl income Bank inleresl 74,150 60,960 95,708 56,724 135,110 152.432 Income from investments was wholty allribulable lo unreslricted funds in the prior year. ANALYSIS OF EXPENDITURE: Group Restricted funds Direct osts Support osts Totsl 2025 Total 2024 R•i$ing funds 16,405 16.405 15,599 Charitable activities Cost of operation of sports and leisure facililies 307,863 9,296,373 1.568,572 11.172,808 10,671,292 Total expenditure 307.863 9,312,778 1,568,572 11.189,213 10.686,891 17
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ANALYSIS OF EXPENDITURE (cont) 2025 2024 Support costs are analysed as follows.. Salaries Other staff costs Printing and slalionery Telephone and postage Travel and subsistenc8 Advertising Professional charge$ - legal Bank charges Sundry expenses Other professional fees - financial 1.230.524 33,996 20.360 48,086 9.180 78,653 82,235 50,704 (2,686) 17,520 1,137,405 26,818 109,327 74,617 40.366 11,781 50,177 52,858 1,101 15.012 1,568,572 1,519,462 Expenditure on charitable activities in the prior year was £10,671,292 of which £390,934 was attributable lo reslricled funds and £10,280,358 was attribulable to unreslricled funds. Charlty Ro•trlct•d funds Dlrect co•t• Support Totsl 2025 Total 2024 Raising funds 16,405 16,405 15,599 Charitable activities Cost of operation of sports and leisure faalilies 307,863 9,296,372 1.525.447 11,129,682 10,671,292 Tot•1 •xpendlture 307,863 9,312,777 1,525.447 11,146,087 10.686,891 2025 2024 Support costs are analysed as follows.. Salaries Other staff costs Printing and stationery Telephone and postage Travel and subsistence Advertising Professional Charges - legal Bank charges Sundry expenses Olher professional fees financial 1.187,399 33,996 20,360 48,086 9.180 78.653 82,235 50.704 (2,686) 17.520 1,137,405 26.818 109,327 74,617 40,366 11,781 50,177 52,858 1,101 15,012 1,525,447 1,519,462 Expenditure on charitable activities in the prior year was £10,671,292 of which £390,934 was attributable to reslricled funds and £10.280.358 was attributable to unrestricted funds. 18
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 OTHER DISCLOSURES: Group & Charity 2025 2024 Net Income18 Stated after charglng: Depreciation Auditor5, remuneration audit fees Trustees, expenses Pension costs 41,774 14.250 22.068 13,575 91,597 78.192 Directors, emolumenls and other benefits etc. The trustees received no remun8ration or r8imbursemenl of expenses in the current or previous year. TAXATION: Group & Charlty No liability to UK corporation tax arises on ordinary activities for the year ended 31st March 2025 nor for Ihe year ended 31st March 2024. 10. EMOLUMENTS OF EMPLOYEES: Group 2026 2024 Staff Costs: Wages and salaries Social secunty cosls Pension costs 5,096,675 294.651 92.037 4,787,719 265,338 78,192 5.483.363 5,131,249 The average monthly number of employees during the year was as follows.. Number Number Sports and leisure activities Administration 499 27 474 26 526 500 The average fvll lime equivalent number of employee$ for the year was 279 (2024.'271) One efflployee received emoluments of more than £60,O¢XI in the range of £140.001 10 £150.000 and Iwo employees reiVed emoluments of more than £60.000 in the range of £70,001 10 £80,0. {2024'. one in the range of £130,001 to £140,000 and one in the range of £60.001 to £70,000>. The employer pension ¢onlribulion for these staff members amounted to £19,043 {2024. £14,838). The charity considers ils key management personnel lo be the Senior Managemenl 8oard. The total amount of employee benefits (including employers, Nl> received by key managemenl personnel is £763,903 (2024.. £590,190). 19
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED B Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31ST MARCH 2025 10. EMOLUMENTS OF EMPLOYEES (cont Charity 2025 2024 Staff costs: Wages and salaries Sooal secufity costs Pension costs 5,058,523 290.118 91,597 4,787,719 265,338 78,192 5.440.238 5,131,249 The average monthly number of employees during the year was as follows.. Number Number Sports and leisure activities Administration 499 26 474 28 525 500 The average full time equivalent number of employees for the year was 278 (2024.'271) One employee recelved ernolumenls of more than £60,000 in the range of £140,001 to £150.000 and two employees received emoluments of more than £60,000 in the range of £70,001 10 £80,000. (2024.. one in the range of £130,00110 £140,000 and one in the range of £60,001 to £70.000). The employer pension contribution for these staff members amounted to £19,04312024'. £14,838). The charity considers ils key management personnel lo be the Senior Management Board. The total amount of employee benefits (including employers, Nl) received by key management personnel is £763,903 (2024.. £590,190) 11. TANGIBLE FIXED ASSETS: Group & Charlty Alteratlong Offic• to leasettold and sports premlses equlprnent Flxturns and flttlngs Motor under v•hlcl•s ¢on#truction Total COST: Al 1 st April 2024 Additions Disposals 40.476 420.767 21,935 331.892 687,660 (15.081) 1,500 794,635 941,417 (15,081) 231.822 At 31st March 2025 40,476 442,702 1.004,471 1,500 231.822 1,720,971 DEPRECIATION: At 1 st April 2024 Charge for year 40.476 383,851 10.602 162,655 31,172 1,500 588,482 41,774 At 31st March 2025 40,476 394,453 193,827 1,500 830,256 NET BOOK VALUE: Al 31st March 2025 48.249 810,644 231.822 1,090.715 At 31 sl March 2024 36.916 169,237 206.153 The dosing net book value represents fixed assets used for the direct charitable purpose of sports and leisure activilies. 20
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31ST MARCH 2025 12. INVESTMENTS: Group 2025 Charfty 202S 2024 2024 Listed investrnents Valuation as al 1 st April 2024 Purchases Sales proceeds Revaluation adjustment 2,003.959 1.831.680 2.003,959 1.831,680 858.CM)O 759.644 858,000 759,644 {776,729) (526,033) (776.729) (526,0331 49,842 (61,332) 49.842 (61.332) Valuation at 31st March 2025 2,135,072 2,003,959 2,135,072 2.003.959 Investments al fair value comprise: Fixed interest Equities Allernalives Property Money Market 835.610 974,573 220.319 54,570 50,000 924.892 759,866 229,761 89,440 835,610 974,573 220.319 54,570 50.000 924,892 759.866 229,761 89,440 2,135.072 2,003.959 2,135,072 2,003,959 Coventry Sports Foundation also holds and investment in CV Life, a charitable company limited by guarantee incorporated in the UK. CV Life'5 company number is 13370057 and its chanty number is 1197786. The value of the investment in CV Life is £nil. 13. DEBTORS: Amounts falling due within one year: Group 2025 Charity 2025 2024 2024 Trade debtors Prepayments and accrued income Other debtors Amounls owed from group undertakings VAT 750,429 266.104 3,764 275,991 416,571 8,191 742.869 266.104 3,764 9,988 43,698 275.991 416.571 8.191 43,698 1,063,995 700,753 1,066.423 700.753 14. CREDITORS: Amounts falling due within one year: Group 2025 Charity 2025 2024 2024 Trade creditors Social security and other iaxes Accruals and deferred income (Xher creditors 888.016 64.241 947,471 29.713 828.145 90,890 1,031,865 23,663 888,016 64,241 947,471 29,713 828,145 90.890 1.031.865 23.663 1,929,441 1,974,563 1,929,441 1, 974,563 21
COVENTRY SPORTS FOUNOATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 15. DEFERRED INCOME: Group 2025 Charity 2025 2024 2024 At 1 April 2024 Addilions during Ihe year Amounts released lo income 25.379 67.431 (25,379) 25.379 67,431 (25.379) 25,379 25,379 At 31 March 2025 87,431 25,379 67,431 25,379 Deferred incoffle relates lo membetship and room hlre in¢ome received in advance. 16. OPERA TING LEASE COMMITMENTS: Group & Charity Total future minimum lease payments under non-cancellable operating leases are as follows.. Lessee.. 2025 2024 Land and bulldlng8 Land and buildings Other othgr Within one year Beiween one and five years In moffj Ihan five years 355,010 1,42.040 9,872,800 80,393 76,307 125.010 500,040 3,900.315 54,804 40,466 11,447,850 136,700 4,525,365 95,270 Lessor: 2025 2024 Land and bulldlng8 Land and bulldings Oth•r Oih•r Wilhin one year Belween one and five years In more than five years 131.444 440,992 75,CM)O 300.000 18,750 572,436 393.750 Alan Higgs Centr• The under lease was granted for a lemi commencing 271h February 2020 and expiring 31 * March 2060. Xcel Centre The under lease was granted for a tem commencing 25th June 2008 and expiring 301h June 2033. The Wave The under lease was granted for a temi expiring 28th March 2062. 22
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 17. PENSION COST: Group The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension costs charge represents contributions payable by the cofflpany to the fund and amounted lo £92.037 (2024 - £78,192). The pension liability as al 31 March 2025 is £13,881 {2024: £12,800)- 18. RESTRICTED FUNOS: Balanc• 1.4.24 InCtnIng r¢8ource$ Outgoing r•$our¢•• Bal•nc• 31.3.25 Tf•n3f•rn Engage Rugby CCC Holiday Activities and Food Sports England SPSF 39,370 37,263 248,328 738.760 (59,535) (248.328) 17.098 (738,760) 39.370 1.024,351 (307,863) (738,760) 17.098 Engage Rugby is a project to promote rugby and ils values. CCC Holiday Activities and Food Programme is 8 projèct to deliver the DFE'S Holiday Aclivilies and Food Programme in Coventry through provision of holiday dubs and holiday activities for children in recelpt of benefils.relaled free school meals. The Sports England Swimming Pool Support Fund is 8 fund for enefgy-efficienl upgrades of Ihe swimming facilities operated by the Charity. Transfers from this fund represent the cost of these capital upgrades, which have been recognised as fixed asset additions during the period and fomi part of the designated fixed asset fund. 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS: Unrestricted funds Restrictsd funds. Total funds Fund balances al 31st March 2025 are psented by: Tangible assets Investments Net current assets 1.090.715 2.142,650 844.692 1.090,715 2.142,650 861.790 17,098 Total net assets 4,078,057 17.098 4.095.155 20. RELATED PARTY TRANSACTIONS: There are no related paty transactions in the year (2024: £nil). 21. FUNDRAISING REGULATOR STATEMENT OF COMPLIANCE: Coventry Sports Foundation does not contract to a third paty to undertake any fundraising on its behalf The charity does not employ a Fundraising Officer. We have received no fundraising complaints durin9 the year. 23
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE TRADING ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 2025 2024 Notes Facility income ProfiUILossl on bar and c81ering ProfiVILossl on vending and retail Rent Miscellaneous income Management fees SeNice fees 9,951,040 6,648 37,258 128,667 169,709 100,000 9,448.284 13.032 58.752 170.449 129.924 113,182 75,600 IA) {Bl {c) GROSS PROFIT Grants received Reslricled grants received Performan¢e lated grants received Investment income 10.393.322 10,009.223 776,023 470,233 135.110 39,516 484.295 152,432 11.774,688 10,685.466 Actlvlty costs Salaries and payroll costs Staff training and uniforms Sports equipment Sports equipment rental Repairs and maintenance Travel and trips Other activity costs 3,609,642 53,147 101,609 71.238 122,906 65,269 142.194 3.379,480 47.323 99,644 87,666 54,612 50.145 163.456 4,166,005 3.882,326 Premis8s Go$ts Maintenance wage$ Light and heal Rent and rales Insurance Repairs and mainlenance Cleaning LiGen¢•s 407.745 1,538.226 544.100 195,379 1.164.265 161,469 138.366 394,050 1.447,246 535,841 175,546 1,115,787 154,280 95,605 4,149,550 3,918,355 Flnanclal oxpgns•$ Bank and loan intèrtr$l Irrecoverable VAT 50 401.828 490,102 401.878 490,102 Support costs Salaries Other staff ¢o$l$ Printing and stationery Telephone and postage Travel and subsistenee Advertising Professional charges - legal Bank charges Sundry expenses Professional Gharges- fingncial 1.187,399 33,996 20,360 48,086 9,180 78,653 82,235 50,704 12,6861 17,520 1,137,40S 26,818 109,327 74,617 40,366 11.781 SO.177 S2.858 1.101 15,012 1.52S.447 1.519.462 1.531,808 875,221 Donatlon$ Other 240,833 240,833 1.531,808 141,7741 1386,0501 {59,535 {16,4051 1.116,054 122,0681 1388,5021 139,7881 115,5991 Depreciation The Wave Reslricled expen5e$~ Engage Rugby Investment m8nager'$ fee SURPLUS FOR THE YEAR 1.028,044 650,097 This page does not form part of the slalutory financial statements 24
COVENTRY SPORTS FOUNDATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE TRADING ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 (A) Profit on Bar and Catering 2025 2024 Bar Receipts Purchases Bar consumables 236.599 263.572 82,132 16,688 143,250 12,101 98,820 155.351 BAR PROFIT BEFORE SALARIES ANO MANAGEMENT CHARGES 137,779 108,221 Catering Receipts Purchases Café consumables 132.512 159,380 59,585 17,347 28.317 28,912 76.932 57.229 CATERING PROFIT BEFORE SALARIES AND MANAGEMENT CHARGES 55.580 102,151 Salaries and payroll costs Bar operating expenses 186.711 196.800 540 6,648 13.032 (81 Profit on vending and relail Receipts Purchases 61.908 36.981 50,343 770 24,927 12.331 49.573 9,179 Commission 37,258 58.752 (c> Mi8cellaneou8 Incom• Leisure training Room hire Car boot sale Other 2.989 151,522 15,070 128 2,387 114.849 12,557 131 169.709 129,924 This page does not form part of the statutory financial statements 25