REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Financial Statements |
For The Year Ended |
30 April 2024 |
for |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Financial Statements |
For The Year Ended |
30 April 2024 |
for |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Contents of the Financial Statements |
For The Year Ended 30 April 2024 |
Page |
Report of the Trustees | 1 | to | 5 |
Report of the Independent Auditors | 6 | to | 8 |
Statement of Financial Activities | 9 |
Balance Sheet | 10 |
Cash Flow Statement | 11 |
Notes to the Cash Flow Statement | 12 |
Notes to the Financial Statements | 13 | to | 21 |
WARRINGTON WOLVES COMMUNITY FOUNDATION (REGISTERED NUMBER: 05421006) |
Report of the Trustees |
For The Year Ended 30 April 2024 |
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 30 April 2024. 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 charity's objectives are for the benefit of the public generally and, in particular, the inhabitants of Warrington and Cheshire and their surrounding areas: |
o to promote community participation in healthy recreation by providing facilities for the playing of Rugby League and other sports. The term 'facilities' refers to land, buildings, equipment and organising sporting activities; |
o to provide and assist in providing facilities for sport, recreation or other leisure time occupation for such persons who have a need for such facilities by reason of their youth, age, ethnicity, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life; and |
o to advance the education of adults, young people and children through such means as the Trustees think fit in accordance with charity law. |
Significant activities and achievements: charitable activities |
The legacy of staging the Rugby League World Cup saw the National Governing Body and our Local Authority support our application to invest in an artificial pitch for community use. This was completed in time to stage the very first Rugby League Disability World Cup. |
The facility is now in full use for our development work and is a quality training facility for our community clubs. The Foundation has funded a role to assist these clubs with their ambitions and to advocate the role they play in their communities. |
Our Chair stood down as he was successful in his application for the mentioned role of Community Club Support Officer, abiding by our governance and so able to follow a passion and put forward his skills and experience. The Deputy Chair took on the role of Chair in the interim while a search for a new Chair and Finance Trustee was undertaken to contribute to the Game Plan. |
Public benefit |
The Trustees confirm they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit 'Charities and Public Benefit'. |
STRATEGIC REPORT |
Achievement and performance |
Fundraising activities |
|
WARRINGTON WOLVES COMMUNITY FOUNDATION (REGISTERED NUMBER: 05421006) |
Report of the Trustees |
For The Year Ended 30 April 2024 |
STRATEGIC REPORT |
Financial review |
General review |
|
Reserves policy |
At 30 April 2024, the charity held reserves of £377,056 (2023: £417,192) of which £47,165 (2023: £25,150) is already committed through restricted funds as detailed in the notes to the financial statements. £2,589 has been carried forward in the fixed asset restricted fund. This leaves a balance of £327,302 (2023: £392,042) which is unrestricted. Whilst these funds are unrestricted, a significant proportion of them are set aside for specific projects. |
The Trustees carefully manage the financial position and will continue to take appropriate advice where necessary. The Trustees, together with the CEO, continue to seek new sources of unrestricted income to boost the charity's free reserves to an appropriate level. This is to provide sufficient funds to cover management, administration and support costs and to respond to unexpected events in the short-term with disruption to the charity's activities. |
Our reserves policy takes into consideration: |
o Risk of unforeseen emergencies |
o Risk of unforeseen operational costs |
o Uncertainty over future income |
o Planned spending commitments that cannot be met by future income alone |
o An amount to cover short-term deficits in cash budgets |
The Trustees carry out an annual review of the charity's reserves policy. |
Going concern |
The Trustees have prepared these financial statements under the going concern basis. The Trustees do not believe there is any material uncertainty in respect of going concern. |
The Trustees have considered the level of funds held and the expected level of income and expenditure for the forthcoming 12 months from the date of approval of these financial statements. In the Trustees' opinion, the budgeted income and expenditure is sufficient with the level of reserves to enable the charity to continue as a going concern for the foreseeable future. |
Principal risks and uncertainties |
The charity relies heavily on income sourced from events and donations. There is a risk that donations fall or an event (or a number of events) may be unable to continue, resulting in a loss of income. To mitigate these risks, the Trustees actively promote events throughout the Warrington and Cheshire area to ensure all events are successful and seek to attract new partners to enable the charity to continue to generate charitable income. |
Future plans |
The Interim Chair and the Board of Trustees have provided a platform for the introduction of a new Chair and Finance lead roles which will be appointed at the next AGM. |
The direction of growth has also highlighted the priorities in our Health and Well-being Education delivery, backed by a strong revenue strategy. |
Once the new Chair is in place, the Board will embark on developing a new five-year strategy with the strong foundations that have been implemented this year. |
It has been another challenging year for all charities and their communities; using the power of our engagement, we continue to provide positive activities that change lives and show an intention to grow our work. |
WARRINGTON WOLVES COMMUNITY FOUNDATION (REGISTERED NUMBER: 05421006) |
Report of the Trustees |
For The Year Ended 30 April 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Warrington Wolves Community Foundation was incorporated on 11 April 2005. It is a company limited by guarantee and is governed by its Memorandum and Articles of Association. The charity is registered with the Charity Commission for England and Wales. |
Recruitment and appointment of new trustees |
New Trustees are briefed on their legal obligations under charity and company law and the Trustees' decision-making process. |
Organisational structure |
Following events that have affected our personnel and a review of the risk assessment of impact, an internal review of our structure brought about change. The role of Foundation Director was changed to CEO and a new role established in General Manager, all being internal appointments. |
An Executive Team has been created to include both roles and the Finance Manager, supporting the strategic link and vision of the Board. These again were significant decisions in the strengthening and sustainability of the Foundation as a catalyst for growth. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
The Trustees are aware of factors both within and outside of the charity's control that are relevant to the achievement of its objectives, including relationships with employees, key partners and donors. The charity has a risk management strategy in place which comprises: |
o Annual reviews of risks which the charity may face |
o Discussion of risks in each trustee meeting |
o Establishment of systems and procedures to mitigate those risks identified |
o Implementation of procedures designed to minimise any potential impact on the charity should risks materialise |
The charity continually monitors its safeguarding practices to ensure they remain of utmost importance across all delivery areas. The charity ensures that all staff are suitably qualified and trained in this area and regularly review the policy and procedures to ensure all risk areas are adequately covered. |
The risk register is reviewed by the full Board annually and reviewed as an item of Agenda at Board meetings. Each Key Pillar group has responsibility for potential risks linked to their area of expertise. |
Senior management team |
Mr N Kelly - CEO |
Mr J Howes - Health and Wellbeing Manager |
Mr L Mitchell - General Manager |
Mrs D Blackburn - Finance Manager |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
WARRINGTON WOLVES COMMUNITY FOUNDATION (REGISTERED NUMBER: 05421006) |
Report of the Trustees |
For The Year Ended 30 April 2024 |
Trustees |
Mr P M Astley (resigned 20.7.23) |
Company Secretary |
Senior Statutory Auditor |
Auditors |
Chartered Certified Accountants and |
Statutory Auditors |
8 Eastway |
Sale |
Cheshire |
M33 4DX |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Warrington Wolves Community Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees 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 those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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. |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
AUDITORS |
The auditors, Leavitt Walmsley Associates Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
WARRINGTON WOLVES COMMUNITY FOUNDATION (REGISTERED NUMBER: 05421006) |
Report of the Trustees |
For The Year Ended 30 April 2024 |
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on |
Report of the Independent Auditors to the Members of |
Warrington Wolves Community Foundation |
Opinion |
We have audited the financial statements of Warrington Wolves Community Foundation (the 'charitable company') for the year ended 30 April 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the charitable company's affairs as at 30 April 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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 Auditors' 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 Annual Report, other than the financial statements and our Report of the Independent Auditors 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. |
In connection with our audit of the financial statements, 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 this gives rise to a material misstatement in the financial statements themselves. 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: |
- | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the 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 Report of the Trustees. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Report of the Independent Auditors to the Members of |
Warrington Wolves Community Foundation |
Responsibilities of trustees |
As explained more fully in the Statement of Trustees' Responsibilities, 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. |
Our 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 a Report of the Independent Auditors 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. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations |
The audit engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. To that end, the audit engagement team identified laws and regulations applicable to the charitable company through discussions with the management team and from our knowledge and understanding of the charity as well as the charity sector as a whole. |
We focussed on specific laws and regulations which we considered had a direct impact on the financial statements or the operations of the charitable company. This included consideration of: |
o Companies Act 2006 |
o Charities Act 2011 |
o Health and Safety legislation |
o Child safety |
o General Data Protection Regulations |
o Fundraising regulation |
We assessed the extent of compliance with laws and regulations identified above through inquiries of management and inspection of documentation, including correspondence. |
Susceptibility of the financial statements to material misstatement, including by way of fraud |
We assessed the susceptibility of the charitable company's financial statements to material misstatement, including obtaining an understanding of how fraud may occur by: |
o inquiring of management as to any known actual, suspected and alleged fraud; |
o testing journal entries to identify unusual transactions; |
o assessing whether judgements and assumptions used in preparing the financial statements indicated potential bias; and |
o investigated the rationale behind significant or unusual transactions. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is we would become aware of non-compliance. International Standards on Auditing (UK) also limit the audit procedures required to identify non-compliance with laws and regulations to inquiry of management and the inspection fo regulatory and legal correspondence (if any). |
Material misstatement that arises due to fraud can be harder to detect than misstatements which arise from error as they may involve deliberate concealment or collusion. |
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 Report of the Independent Auditors. |
Report of the Independent Auditors to the Members of |
Warrington Wolves Community Foundation |
Use of our 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 auditors' 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. |
for and on behalf of |
Chartered Certified Accountants and |
Statutory Auditors |
Sale |
Cheshire |
M33 4DX |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Statement of Financial Activities |
For The Year Ended 30 April 2024 |
30.4.24 | 30.4.23 |
Restricted |
Unrestricted | Restricted | fixed | Total | Total |
fund | fund | assets | funds | funds |
Notes | £ | £ | £ | £ | £ |
INCOME AND ENDOWMENTS | FROM |
Donations and legacies | 3 | 60,837 | - |
Charitable activities | 6 |
177,206 | - |
Other trading activities | 4 | 133,808 | - |
Investment income | 5 | - | - |
Total | 371,851 | - |
EXPENDITURE ON |
Raising funds | 7 | 1,157 | - |
Charitable activities | 8 |
348,679 | 907 |
Total | 349,836 | 907 |
Net gains on investments | - | - |
NET INCOME/(EXPENDITURE) | ( | ) | 22,015 | (907 | ) | ( | ) | ( | ) |
Transfers between funds | 20 | (3,496 | ) | - | 3,496 | - | - |
Net movement in funds | ( | ) | 22,015 | 2,589 | ( | ) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 25,150 | - |
TOTAL FUNDS CARRIED FORWARD | 47,165 | 2,589 | 417,192 |
WARRINGTON WOLVES COMMUNITY FOUNDATION (REGISTERED NUMBER: 05421006) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 15 |
CURRENT ASSETS |
Debtors | 16 |
Investments | 17 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 18 | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 20 |
Unrestricted funds | 392,042 |
Restricted funds | 25,150 |
TOTAL FUNDS | 417,192 |
The financial statements were approved by the Board of Trustees and authorised for issue on |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Cash Flow Statement |
For The Year Ended 30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | (1,506 | ) | (109,284 | ) |
Net cash used in operating activities | (1,506 | ) | (109,284 | ) |
Cash flows from investing activities |
Purchase of tangible fixed assets | (3,496 | ) | - |
Interest received | 8,787 | - |
Net cash provided by investing activities | 5,291 | - |
Change in cash and cash equivalents in the reporting period | 3,785 | (109,284 | ) |
Cash and cash equivalents at the beginning of the reporting period | 449,003 | 558,287 |
Cash and cash equivalents at the end of the reporting period | 452,788 | 449,003 |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Notes to the Cash Flow Statement |
For The Year Ended 30 April 2024 |
1. | RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES |
30.4.24 | 30.4.23 |
£ | £ |
Net expenditure for the reporting period (as per the Statement of Financial Activities) | (40,136 | ) | (96,060 | ) |
Adjustments for: |
Depreciation charges | 907 | 46 |
Interest received | (8,787 | ) | - |
Interest on unlisted investment | (1,153 | ) | - |
Gain on current asset investment | (2,888 | ) | - |
Decrease/(increase) in debtors | 35,311 | (124,791 | ) |
Increase in creditors | 15,240 | 111,521 |
Net cash used in operations | (1,506 | ) | (109,284 | ) |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.5.23 | Cash flow | At 30.4.24 |
£ | £ | £ |
Net cash |
Cash at bank | 449,003 | 3,785 | 452,788 |
449,003 | 3,785 | 452,788 |
Liquid resources |
Deposits included in cash | - | - | - |
Current asset investments | 40,000 | 4,041 | 44,041 |
40,000 | 4,041 | 44,041 |
Total | 489,003 | 7,826 | 496,829 |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Notes to the Financial Statements |
For The Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Warrington Wolves Community Foundation is a private company limited by guarantee. It is incorporated in England and Wales under company number 05421006. The address of the registered office is provided in the Company Information page on page 1 of these financial statements. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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)', FRS 102 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Going concern |
The financial statements have been prepared on a going concern basis on the basis that the trustees believe there are no material uncertainties that may call into question the charitable company's ability to continue as a going concern for at least 12 months from the date of approval of these financial statements. |
In carrying out their assessment of going concern, the trustees have considered the level of funds held and the expected level of income and expenditure for a period of 12 months from the date of approval of these financial statements. The budgeted income and expenditure is considered to be adequate with the level of reserves for the charitable company to continue as a going concern. |
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. |
Donations |
For donations to be recognised, the charitable company must be notified of the amounts and settlement date in writing. If there are performance-related conditions attached to the donations, and this requires a level of performance to be achieved prior to entitlement, then income is deferred until those conditions are fully met, or the fulfilment of those conditions is within the control of the charitable company. It must also be probable (i.e. more likely than not) that the performance conditions will be fulfilled. |
Trading activities |
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. |
Government and other grants |
Income from government and other grants is recognised at the fair value of the grant received or receivable. It is recognised when the charity has entitlement after any performance-relating obligations have been met; it is probable that the income will be received; and the amount can be measured reliably. If entitlement is not met, these amounts are deferred and presented within creditors: amounts falling due within one year as deferred income. |
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 |
|
Computer equipment | - | 33% on cost |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
|
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. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Financial instruments |
Financial Instruments are classified and accounted for according to the substance of the transaction as either a financial asset, liability or equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after all liabilities have been deducted. |
Debtors and creditors |
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 the Statement of Financial Activities in expenditure. |
3. | DONATIONS AND LEGACIES |
30.4.24 | 30.4.23 |
£ | £ |
Donations |
Sponsorship |
4. | OTHER TRADING ACTIVITIES |
30.4.24 | 30.4.23 |
£ | £ |
Fundraising events |
Coaching and activities | 212,750 | 181,834 |
Contributions | 70,741 | 58,671 |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
5. | INVESTMENT INCOME |
30.4.24 | 30.4.23 |
£ | £ |
Deposit account interest |
6. | INCOME FROM CHARITABLE ACTIVITIES |
30.4.24 | 30.4.23 |
Activity | £ | £ |
Grants | Charitable activities | 177,206 | 192,197 |
Grants received, included in the above, are as follows: |
30.4.24 | 30.4.23 |
£ | £ |
General | 177,206 | 192,197 |
7. | RAISING FUNDS |
Other trading activities |
30.4.24 | 30.4.23 |
£ | £ |
Bad debts | - | 1,117 |
Refreshments | 1,465 | 1,889 |
Fundraising expenses | 40,357 | 21,547 |
41,822 | 24,553 |
8. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 9) | Totals |
£ | £ | £ |
Charitable activities | 584,705 | 40,102 | 624,807 |
9. | SUPPORT COSTS |
General |
support |
costs | Finance | Totals |
£ | £ | £ |
Charitable activities | 40,062 | 40 | 40,102 |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
9. | SUPPORT COSTS - continued |
Support costs, included in the above, are as follows: |
General support costs |
30.4.24 | 30.4.23 |
Charitable | Total |
activities | activities |
£ | £ |
Insurance | 8,557 | 7,196 |
Telephone | 242 | 168 |
Postage and stationery | 1,837 | 1,986 |
Subscriptions | 4,642 | 4,970 |
Training | 7,482 | 6,074 |
IT support | 728 | 6,582 |
Irrecoverable VAT | 5,853 | 3,954 |
Professional fees | 4,550 | 3,864 |
Service charges | 3,000 | 1,000 |
Auditor's remuneration | 3,171 | 5,430 |
40,062 | 41,224 |
Finance |
30.4.24 | 30.4.23 |
Charitable | Total |
activities | activities |
£ | £ |
Bank charges | 40 | - |
10. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
30.4.24 | 30.4.23 |
£ | £ |
Depreciation - owned assets |
Auditor's remuneration | 3,171 | 5,430 |
11. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023. |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
12. | STAFF COSTS |
30.4.24 | 30.4.23 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
344,385 | 350,417 |
The average monthly number of employees during the year was as follows: |
30.4.24 | 30.4.23 |
Administration | 2 | 2 |
Service delivery | 13 | 11 |
No employees received remuneration packages exceeding £60,000 (2023: None). |
Key management personnel compensation |
Compensation paid to key management personnel amounted to £94,681 (2023: £165,691). |
13. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Restricted |
Unrestricted | Restricted | fixed | Total |
fund | fund | assets | funds |
£ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 947 | - |
Charitable activities |
62,615 | - |
Other trading activities | 5,409 | - |
Total | 68,971 | - |
EXPENDITURE ON |
Raising funds | 659 | - |
Charitable activities |
171,241 | - |
Total | 171,900 | - |
NET INCOME/(EXPENDITURE) | (102,929 | ) | - | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 385,173 | 128,079 | - |
TOTAL FUNDS CARRIED FORWARD | 392,042 | 25,150 | - | 417,192 |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
14. | EMPLOYEE BENEFIT OBLIGATIONS |
The National Employment Savings Scheme (NEST) is a government auto-enrolment workplace pension scheme and is available to employees of the charity. NEST is a defined contribution scheme that was created as part of the government workplace pension reforms under the Pensions Act 2008. The contributions are allocated between restricted and unrestricted funds on the same basis as salary expense. |
During the year there were contributions paid of £15,550 (2023: £14,548). At the year end there was a liability owed of £1,674 (2023: £1,659). |
15. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
Additions |
DEPRECIATION |
Charge for year |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
17. | CURRENT ASSET INVESTMENTS |
30.4.24 | 30.4.23 |
£ | £ |
Unlisted investments | 44,041 | 40,000 |
18. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade creditors |
Social security and other taxes |
VAT | 8,918 | 7,456 |
Other creditors |
Accruals and deferred income |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
19. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
30.4.24 | 30.4.23 |
Restricted |
Unrestricted | Restricted | fixed | Total | Total |
fund | fund | assets | funds | funds |
£ | £ | £ | £ | £ |
Fixed assets | - | - | 2,589 | 2,589 | - |
Current assets | 1 |
Current liabilities | ( | ) | ( | ) | (1 | ) | ( | ) | ( | ) |
327,302 | 47,165 | 2,589 | 377,056 | 417,192 |
20. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.5.23 | in funds | funds | 30.4.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 392,042 | (61,244 | ) | (3,496 | ) | 327,302 |
Restricted funds |
Restricted funds | 25,150 | 22,015 | - | 47,165 |
Restricted fixed assets | - | (907 | ) | 3,496 | 2,589 |
21,108 |
TOTAL FUNDS | (40,136 | ) | 377,056 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 251,754 | (315,886 | ) | 2,888 | (61,244 | ) |
Restricted funds |
Restricted funds | 371,851 | (349,836 | ) | - | 22,015 |
Restricted fixed assets | - | (907 | ) | - | (907 | ) |
( | ) | 21,108 |
TOTAL FUNDS | ( | ) | (40,136 | ) |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
20. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.5.22 | in funds | 30.4.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 385,173 | 6,869 | 392,042 |
Restricted funds |
Restricted funds | 128,079 | (102,929 | ) | 25,150 |
TOTAL FUNDS | 513,252 | (96,060 | ) | 417,192 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 469,045 | (462,176 | ) | 6,869 |
Restricted funds |
Restricted funds | 68,971 | (171,900 | ) | (102,929 | ) |
TOTAL FUNDS | 538,016 | (634,076 | ) | (96,060 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.5.22 | in funds | funds | 30.4.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 385,173 | (54,375 | ) | (3,496 | ) | 327,302 |
Restricted funds |
Restricted funds | 128,079 | (80,914 | ) | - | 47,165 |
Restricted fixed assets | - | (907 | ) | 3,496 | 2,589 |
128,079 | (81,821 | ) | 3,496 | 49,754 |
TOTAL FUNDS | 513,252 | (136,196 | ) | - | 377,056 |
WARRINGTON WOLVES COMMUNITY FOUNDATION |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
20. | 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 | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 720,799 | (778,062 | ) | 2,888 | (54,375 | ) |
Restricted funds |
Restricted funds | 440,822 | (521,736 | ) | - | (80,914 | ) |
Restricted fixed assets | - | (907 | ) | - | (907 | ) |
440,822 | (522,643 | ) | - | (81,821 | ) |
TOTAL FUNDS | 1,161,621 | (1,300,705 | ) | 2,888 | (136,196 | ) |
21. | RELATED PARTY DISCLOSURES |