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REGISTERED COMPANY NUMBER: 06446869 (England and Wales)
REGISTERED CHARITY NUMBER: 1124164














Report of the Trustees and

Financial Statements For The Year Ended 31st December 2023

for

Wheeled Sports 4 Hereford Ltd

Wheeled Sports 4 Hereford Ltd






Contents of the Financial Statements
For The Year Ended 31st December 2023




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 12

Wheeled Sports 4 Hereford Ltd (Registered number: 06446869)

Report of the Trustees
For The Year Ended 31st December 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the Charity is to provide or assist in the provision of recreational facilities in or near Hereford for young people, with the object of improving their conditions of life, in particular to provide for such persons facilities for skateboarding, roller skating, cycling and similar activities.

The Charity provides a safe, purpose-built, free, accessible outdoor facility in Hereford to allow young people to skate unhindered and thus remove the dangers to themselves and pedestrians by locating them a suitable environment. This facility also provides a purposeful leisure activity for young people as a diversion from anti-social behaviour.

The provision of the skate park provides a Centre of Excellence for alternative sports in Hereford which specifically meets the needs of the young people practising those sports.

The location of the skate park in Hereford ensures that the benefits of the skate park can be enjoyed by the whole population of skateboarders in Herefordshire and surrounding areas.

Review of the Year
The first half of the year was relatively normal in terms of income and expenditure, which, carrying on the trends of the previous years, was largely related to the day to day running of the skateshop. Grant funds acquired in previous years via the lottery Awards for All funding stream and Hereford City Council's Community Fund, were partially spent in the first half of the year on catering equipment for the planned community café and installing a water supply and drinking fountain.

WS4H was also awarded a grant of £490,000 in FY23 from central government via the Stronger Towns Fund for the expansion of the skatepark. In August 2023, the park and all facilities including the shop were closed to carry out this work. This grant funding was administered by Herefordshire County Council and paid incrementally to WS4H throughout the second half of the year and into FY24. For this reason, annual expenditure is significantly higher than average this year. The work was completed on time and normal day to day operations of the skatepark and shop resumed in late January 2024.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06446869 (England and Wales)

Registered Charity number
1124164

Registered office
63 High Street
Chislehurst
Kent
BR7 5BE


Wheeled Sports 4 Hereford Ltd (Registered number: 06446869)

Report of the Trustees
For The Year Ended 31st December 2023

Trustees
M Hatter
A B Murphy
D A B Rouse
B J Stephens (resigned 5/6/2023)
S R Stephens
D J Grice
J M Pilkington
A J Johnson
W R Newby
C I Arthur
C A Hamilton
J Hoar
J J Sutton
K Lee

Independent Examiner
Mr P E Britt FCA
Baker Britt
Chartered Accountants
63 High Street
Chislehurst
Kent
BR7 5BE

Approved by order of the board of trustees on 10th July 2024 and signed on its behalf by:





C I Arthur - Trustee

Independent Examiner's Report to the Trustees of
Wheeled Sports 4 Hereford Ltd

Independent examiner's report to the trustees of Wheeled Sports 4 Hereford Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Mr P E Britt FCA
The Institute of Chartered Accountants in England and Wales

Baker Britt
Chartered Accountants
63 High Street
Chislehurst
Kent
BR7 5BE

10th July 2024

Wheeled Sports 4 Hereford Ltd

Statement of Financial Activities
For The Year Ended 31st December 2023

2023 2022
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities
General
- - - 17,950
Stronger Towns Park Redevelopment - 448,024 448,024 -

Other trading activities 2 22,500 - 22,500 25,605
Investment income 3 203 - 203 16
Total 22,703 448,024 470,727 43,571

EXPENDITURE ON
Raising funds 11,020 - 11,020 19,563

Charitable activities
General
7,977 12,994 20,971 20,338
Water fountain - 11,499 11,499 -
Cafe container refurbishment
- 673 673 -

Other - - - 1,839
Total 18,997 25,166 44,163 41,740

NET INCOME 3,706 422,858 426,564 1,831
Transfers between funds 11 (3,549 ) 3,549 - -
Net movement in funds 157 426,407 426,564 1,831

RECONCILIATION OF FUNDS
Total funds brought forward 4,803 34,086 38,889 37,058

TOTAL FUNDS CARRIED FORWARD 4,960 460,493 465,453 38,889

Wheeled Sports 4 Hereford Ltd (Registered number: 06446869)

Balance Sheet
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 7 451,165 16,135

CURRENT ASSETS
Stocks 8 5,001 5,000
Cash at bank 11,065 19,539
16,066 24,539

CREDITORS
Amounts falling due within one year 9 (1,778 ) (1,785 )

NET CURRENT ASSETS 14,288 22,754

TOTAL ASSETS LESS CURRENT
LIABILITIES

465,453

38,889

NET ASSETS 465,453 38,889
FUNDS 11
Unrestricted funds 4,960 4,803
Restricted funds 460,493 34,086
TOTAL FUNDS 465,453 38,889

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


Wheeled Sports 4 Hereford Ltd (Registered number: 06446869)

Balance Sheet - continued
31st December 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 10th July 2024 and were signed on its behalf by:





C I Arthur - Trustee

Wheeled Sports 4 Hereford Ltd

Notes to the Financial Statements
For The Year Ended 31st December 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Freehold property - 2% on cost
Plant and machinery - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


Wheeled Sports 4 Hereford Ltd

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

2. OTHER TRADING ACTIVITIES
2023 2022
£    £   
Equipment and canteen sales 16,920 25,319
Donations 5,580 286
22,500 25,605

3. INVESTMENT INCOME
2023 2022
£    £   
Deposit account interest 203 16

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 12,994 5,379

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022.


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities
General
- 17,950 17,950

Other trading activities 25,605 - 25,605
Investment income 16 - 16
Total 25,621 17,950 43,571

EXPENDITURE ON
Raising funds 19,563 - 19,563

Charitable activities
General
14,960 5,378 20,338


Wheeled Sports 4 Hereford Ltd

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds fund funds
£    £    £   
Other 1,839 - 1,839
Total 36,362 5,378 41,740

NET INCOME/(EXPENDITURE) (10,741 ) 12,572 1,831


RECONCILIATION OF FUNDS
Total funds brought forward 15,544 21,514 37,058

TOTAL FUNDS CARRIED FORWARD 4,803 34,086 38,889

7. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1st January 2023 474,348 3,990 478,338
Additions 448,024 - 448,024
At 31st December 2023 922,372 3,990 926,362
DEPRECIATION
At 1st January 2023 458,213 3,990 462,203
Charge for year 12,994 - 12,994
At 31st December 2023 471,207 3,990 475,197
NET BOOK VALUE
At 31st December 2023 451,165 - 451,165
At 31st December 2022 16,135 - 16,135

8. STOCKS
2023 2022
£    £   
Stocks 5,001 5,000


Wheeled Sports 4 Hereford Ltd

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Social security and other taxes (438 ) (331 )
Other creditors 416 416
Accruals and deferred income 1,800 1,700
1,778 1,785

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2023 2022
Unrestricted Restricted Total Total
funds fund funds funds
£    £    £    £   
Fixed assets - 451,165 451,165 16,135
Current assets 6,738 9,328 16,066 24,539
Current liabilities (1,778 ) - (1,778 ) (1,785 )
4,960 460,493 465,453 38,889

11. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1/1/23 in funds funds 31/12/23
£    £    £    £   
Unrestricted funds
Unrestricted 4,803 3,706 (3,549 ) 4,960

Restricted funds
Restricted 34,086 422,858 3,549 460,493

TOTAL FUNDS 38,889 426,564 - 465,453

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
Unrestricted 22,703 (18,997 ) 3,706

Restricted funds
Restricted 448,024 (25,166 ) 422,858

TOTAL FUNDS 470,727 (44,163 ) 426,564


Wheeled Sports 4 Hereford Ltd

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1/1/22 in funds 31/12/22
£    £    £   
Unrestricted funds
Unrestricted 15,544 (10,741 ) 4,803

Restricted funds
Restricted 21,514 12,572 34,086

TOTAL FUNDS 37,058 1,831 38,889

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
Unrestricted 25,621 (36,362 ) (10,741 )

Restricted funds
Restricted 17,950 (5,378 ) 12,572

TOTAL FUNDS 43,571 (41,740 ) 1,831

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1/1/22 in funds funds 31/12/23
£    £    £    £   
Unrestricted funds
Unrestricted 15,544 (7,035 ) (3,549 ) 4,960

Restricted funds
Restricted 21,514 435,430 3,549 460,493

TOTAL FUNDS 37,058 428,395 - 465,453

Wheeled Sports 4 Hereford Ltd

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
Unrestricted 48,324 (55,359 ) (7,035 )

Restricted funds
Restricted 465,974 (30,544 ) 435,430

TOTAL FUNDS 514,298 (85,903 ) 428,395

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st December 2023.