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REGISTERED COMPANY NUMBER: 08196447 (England and Wales)
REGISTERED CHARITY NUMBER: 000000














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

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CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Reference and Administrative Details 1

Report of the Trustees 2

Statement of Financial Activities 3

Balance Sheet 4

Notes to the Financial Statements 5 to 7

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REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 AUGUST 2024



TRUSTEES J Cooper
G Richardson
C Richardson
M D Snell


REGISTERED OFFICE 56 Redshaw Avenue
Barrow-In-Furness
LA13 0SU


REGISTERED COMPANY NUMBER 08196447 (England and Wales)


REGISTERED CHARITY NUMBER 000000

KNOCK OUT WRESTLING ACADEMY LTD (REGISTERED NUMBER: 08196447)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 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 31 August 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 principal activity of the charity is the provision of facilities for recreation or leisure time occupation, particularly participation in the sport of wrestling, with the object of improving the conditions of life of the people of Barrow-in-Furness and the surrounding area.

Significant activities
During the year the trustees arranged a number of wrestling shows being activities within the objects of the charity.

Public benefit
In planning their objectives and activities for the year the trustees have considered the Charity Commission guidance on public benefit, including the guidance on public benefit and fee charging. The academy relies on income from fees and charges to cover its operating costs. In setting the level of fees the trustees give careful consideration to the accessibility of the academy for those on low incomes.

Charitable status
The charity is to apply to the charity commission for registration when funds allow.

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.

Organisational structure
The charity operations are conducted by the trustees.

Risk management
The trustee 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.

Approved by order of the board of trustees on 9 May 2025 and signed on its behalf by:





J Cooper - Trustee

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STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 7,811 7,810

Investment income 2 6 1
Total 7,817 7,811

EXPENDITURE ON
Charitable activities
Exhibitions & events 7,489 7,346

NET INCOME 328 465


RECONCILIATION OF FUNDS
Total funds brought forward 449 (16 )

TOTAL FUNDS CARRIED FORWARD 777 449

KNOCK OUT WRESTLING ACADEMY LTD (REGISTERED NUMBER: 08196447)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
CURRENT ASSETS
Cash at bank and in hand 1,200 810

CREDITORS
Amounts falling due within one year 5 (423 ) (361 )

NET CURRENT ASSETS 777 449

TOTAL ASSETS LESS CURRENT LIABILITIES 777 449

NET ASSETS 777 449
FUNDS 6
Unrestricted funds 777 449
TOTAL FUNDS 777 449

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

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 9 May 2025 and were signed on its behalf by:





J Cooper - Trustee

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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

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.

The financial statements have been prepared on a going concern basis. The trustees are aware that activities need to be planned on a break even basis to avoid a deficiency of net assets at the year end.

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.

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.

2. INVESTMENT INCOME
2024 2023
£    £   
Deposit account interest 6 1

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.



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NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 7,810

Investment income 1
Total 7,811

EXPENDITURE ON
Charitable activities
Exhibitions & events 7,346

NET INCOME 465


RECONCILIATION OF FUNDS
Total funds brought forward (16 )

TOTAL FUNDS CARRIED FORWARD 449

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Accrued expenses 423 361

6. MOVEMENT IN FUNDS
Net
movement At
At 1.9.23 in funds 31.8.24
£    £    £   
Unrestricted funds
General fund 449 328 777

TOTAL FUNDS 449 328 777

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 7,817 (7,489 ) 328

TOTAL FUNDS 7,817 (7,489 ) 328


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NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.9.22 in funds 31.8.23
£    £    £   
Unrestricted funds
General fund (16 ) 465 449

TOTAL FUNDS (16 ) 465 449

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 7,811 (7,346 ) 465

TOTAL FUNDS 7,811 (7,346 ) 465

7. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2024.