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 period ended 31 March 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).
West Sussex Angling Academy provides opportunities for people who are excluded to participate in group activities that improve self-confidence and self-esteem. The activities are open to everybody but particularly those who are excluded from main stream society through unemployment, financial hardship or excluded because of age or educational background.
The Angling Academy provides coaching either individually or groups and provides tuition in all aspects of angling and in related activities. The courses provide both education and therapeutic learning and are especially rewarding to participants with learning difficulties, history of substance abuse or those affected by other forms of social exclusion.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they should undertake.
2024/5 has been a difficult period for the Charity, due to major spinal operation on myself. Thankfully we have been able to work our way through this period with the support of my colleague and students. The charity has been able to continue to carry out our angling courses and continue to introduce courses for homeless veterans and frontline workers.
Following the period of operation, the charity has been able to run its normal programmes and engage many more people as in previous years, we have bookings for 2025, so expect more schools to come onboard during the year. Since December 2024 we have had enquiries from schools and community groups regarding additional provision for people in wheelchairs.
For this it requires the Academy to replace its current 12 seat to a 17 seat minibus, with provision to seat 10 people, 2 wheelchairs, plus rear lift. We need to raise approx. £16000 in donations and funding, before the current van is consigned to the scrapheap. Funding is still proving difficult to raise and since covid-19 many of the funders we used to have closed down.
This has obviously made gaining fund much harder for the charity.
The trustees are hoping that funding/donations will increase for us to run additional activities during 2025/26 and to follow on the successes that the Academy have gained to date.
The Charity has received support from PCC for Sussex and Angling Trust Limited which has enabled us to run additional programmes throughout the year. Following a period of further austerity, the charity has not been able to run as many programmes and engage as many people as in previous years. The trustees are hoping that this will increase in the coming year. We have recently prior to signing this document, to receive a confirmed booking for 8/6 students for September 8/9 intakes respectively. This fills us all with great joy, that the principles and activities the Academy provides, are working and sustainable.
It is only right that I finish by giving a big thank you to all trustees and volunteers, to all schools, community groups and groups who have and continue to support the work of the Academy.
The statement of financial activities on page 4 shows net incoming resources for the period totaled £7 (2022: net outgoing resources of £39). All the assets of the charity are used to carry out its objectives.
Reserves Policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. The level of reserves are much lower than this desired level but work is being undertaken to try to increase them. The Trustees are aware that the funds are in deficit and have continued to support the charity personally throughout the year to ensure it can continue to provide its charitable objectives and have indicated they are willing to carry on supporting the charity until the financial situation is improved.
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 charity is a company limited by guarantee, is governed by a memorandum and articles of associated and was registered with the Charity Commission on 15 February 2011 and set up as a company on 8 December 2006.
The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:
The trustees are in the process of assessing the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
This report has been prepared in accordance with the special provisions of Part 15 of Companies Act 2006 relating to small companies.
The trustees' report was approved by the Board of Trustees.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of West Sussex Angling Academy for the period ended 31 March 2024, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 26 October 2012. Our work has been undertaken solely to prepare for your approval the financial statements of West Sussex Angling Academy and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than West Sussex Angling Academy and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that West Sussex Angling Academy has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of West Sussex Angling Academy. You consider that West Sussex Angling Academy is exempt from the statutory audit requirement for the period, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of West Sussex Angling Academy. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
West Sussex Angling Academy is a private company limited by guarantee incorporated in England and Wales. The registered office is 21 Woldhurstlea Close, Gossops Green, Crawley, West Sussex, RH11 8QG.
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At 31 March 2024 the Charitable Company had net liabilities of £6,673 (2022: £6,680). The Charitable Company is dependent on the support of its trustees in continuing as a going concern. They have indicated their willingness to provide this.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Grants recieved
Provision of angling supplies
Consumables
Motor expenses
Telephone
Postage and stationary
Computer costs
None of the trustees (or any persons connected with them) received any remuneration during the period.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
During the period Mr. G Cridland (a trustee) loaned to the Charitable Company £8,987 (2022: 9,067) in the form of charitable expenses paid for personally and was reimbursed £110 (2022: £669) for these expenses. At 31 March 2024 Mr. G Cridland was owed £6,038 (2022: £5,661) by the charitable company. During the period ended 31 March 2024 Mr. G Cridland donated £8,500 to the charity (2022: £8,500).