Charity registration number 1065641
Company registration number 3227336 (England and Wales)
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
Dr S H Anderson
W J Darwin
N R Oakley
J Hall
J E Hall
F Standing
(Appointed 13 September 2024)
Charity number
1065641
Company number
3227336
Registered office
Y Morfa Leisure Centre
Cader Avenue
Kinmel Bay
Rhyl
LL18 5HU
Independent examiner
Christopher Henderson BSc BFP FCA
Harold Smith Chartered Accountants
Unit 32, Llys Edmund Prys
St Asaph Business Park
St Asaph
Denbighshire
LL17 0JA
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
CONTENTS
Page
Directors' report
1 - 2
Statement of Directors' responsibilities
3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 14
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2024
- 1 -

The Directors present their annual report and financial statements for the year ended 31 July 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Companies Act 2006 and "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

The Charity's objectives are to provide or to assist in providing services and facilities for recreation, physical and other educational or leisure time occupation within the community of Kinmel Bay and Towyn.

Public benefit

The Directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Activities

The main activity undertaken in relation to the objectives is the provision of a sports centre and recreational areas for the inhabitants of Kinmel Bay and Towyn.

Achievements and performance
Significant activities and achievements against objectives

The charity continued to be able to provide facilities for the development and promotion of sports and leisure activities within the Kinmel Bay and Towyn area. Without these facilities, local residents would have to travel further distances to use similar facilities.

Financial review

The Directors are pleased with the charity's financial performance and position at the end of the period.

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 two and four years’s expenditure. The Directors 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. This level of reserves has been maintained throughout the year.

Major risks

The Directors have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a private company, limited by guarantee without share capital. It is governed by its Memorandum and Articles of Association 9 July 1997 as amended by special resolution on 4 September 1997.

The Directors who served during the year and up to the date of signature of the financial statements were:

Dr S H Anderson
W J Darwin
N R Oakley
J Hall
J E Hall
F Standing
(Appointed 13 September 2024)
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
Recruitment and appointment of trustees

Trustees are appointed by the board.

 

None of the Directors has any beneficial interest in the company.

The Directors' report was approved by the Board of Directors.

W J Darwin
Director
31 May 2025
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
STATEMENT OF DIRECTORS' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 JULY 2024
- 3 -

The directors, who also act as trustees for the charitable activities of #cd2, are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the Directors are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

 

The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
- 4 -

I report to the Directors on my examination of the financial statements of Kinmel Bay & Towyn Sports And Recreation Association Limited (the Charity) for the year ended 31 July 2024.

Responsibilities and basis of report

As the Directors of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity 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 the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 that in any material respect:

1

accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

Christopher Henderson BSc BFP FCA
Harold Smith Chartered Accountants
Unit 32, Llys Edmund Prys
St Asaph Business Park
St Asaph
Denbighshire
LL17 0JA
Dated: 31 May 2025
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
1,000
10,000
11,000
1,900
6,550
8,450
Charitable activities
4
24,503
-
24,503
19,471
-
19,471
Investments
5
1
-
1
-
-
-
Total income
25,504
10,000
35,504
21,371
6,550
27,921
Expenditure on:
Charitable activities
6
27,116
22,634
49,750
18,107
21,428
39,535
Total expenditure
27,116
22,634
49,750
18,107
21,428
39,535
Net expenditure and movement in funds
(1,612)
(12,634)
(14,246)
3,264
(14,878)
(11,614)
Reconciliation of funds:
Fund balances at 1 August 2023
22,374
60,381
82,755
19,110
75,259
94,369
Fund balances at 31 July 2024
20,762
47,747
68,509
22,374
60,381
82,755

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 6 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
53,064
62,770
Current assets
Debtors
13
5,487
3,942
Cash at bank and in hand
10,714
16,403
16,201
20,345
Creditors: amounts falling due within one year
14
(756)
(360)
Net current assets
15,445
19,985
Total assets less current liabilities
68,509
82,755
The funds of the Charity
Restricted income funds
15
47,747
60,381
Unrestricted funds
16
20,762
22,374
68,509
82,755

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Directors on 31 May 2025
W J Darwin
Director
Company registration number 3227336 (England and Wales)
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
1
Accounting policies
Charity information

Kinmel Bay & Towyn Sports And Recreation Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Y Morfa Leisure Centre, Cader Avenue, Kinmel Bay, Rhyl, LL18 5HU.

1.1
Accounting convention

The financial statements have been prepared in accordance with the the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). 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 applying FRS 102 Update Bulletin 1 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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Directors have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Directors in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4
Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5
Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred

KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 8 -
1.6
Tangible fixed assets

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:

Equipment
10% straight line
Fixtures and fittings
15% reducing balance

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.

1.7
Impairment of fixed assets

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).

1.8
Cash and cash equivalents

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.

1.9
Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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.

KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 9 -
Basic financial liabilities

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Directors 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.

 

 

 

 

 

 

 

 

 

 

 

 

KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 10 -
3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
-
-
-
1,000
-
1,000
Grants
1,000
10,000
11,000
900
6,550
7,450
1,000
10,000
11,000
1,900
6,550
8,450
Grants
Welsh Government Grant
-
10,000
10,000
-
-
-
Social Enterprise Academy
1,000
-
1,000
-
-
-
Towyn Council Height Restriction Barrier Grant
-
-
-
-
1,550
1,550
Changing rooms restoration
-
-
-
-
5,000
5,000
Cost of living grant
-
-
-
900
-
900
1,000
10,000
11,000
900
6,550
7,450
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Use of leisure facilities
Use of leisure facilities
24,503
19,471
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
1
-
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 11 -
6
Expenditure on charitable activities
Use of leisure facilities
Use of leisure facilities
2024
2023
£
£
Direct costs
Depreciation and impairment
10,194
10,181
Insurances
17,288
15,437
Bank cahrges
83
85
Repairs and renewals
14,218
4,600
Sundry expenses
247
188
Power, light and heat
4,990
5,261
Rates
854
1,263
Cost of providing activities
724
1,920
48,598
38,935
Share of support and governance costs (see note 7)
Governance
1,152
600
49,750
39,535
Analysis by fund
Unrestricted funds
27,116
18,107
Restricted funds
22,634
21,428
49,750
39,535
7
Support costs allocated to activities
2024
2023
£
£
Governance costs
1,152
600
Analysed between:
Use of leisure facilities
1,152
600
8
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
10,194
10,181
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 12 -
9
Directors
None of the Directors (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
10
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
5
5
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

11
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12
Tangible fixed assets
Equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 August 2023
105,211
8,409
113,620
Additions
-
488
488
At 31 July 2024
105,211
8,897
114,108
Depreciation and impairment
At 1 August 2023
44,702
6,148
50,850
Depreciation charged in the year
9,782
412
10,194
At 31 July 2024
54,484
6,560
61,044
Carrying amount
At 31 July 2024
50,727
2,337
53,064
At 31 July 2023
60,509
2,261
62,770
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 13 -
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,987
2,242
Prepayments and accrued income
500
1,700
5,487
3,942
14
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
756
360
15
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 August 2023
Incoming resources
Resources expended
At 31 July 2024
£
£
£
£
MUGA Capital expenditure fund
41,616
-
(6,936)
34,680
Mower fund
9,412
-
(1,345)
8,067
Gwynt Y Mor grant
4,353
-
(4,353)
-
Changing rooms restoration
5,000
-
-
5,000
Welsh Government Grant
-
10,000
(10,000)
-
60,381
10,000
(22,634)
47,747
Previous year:
At 1 August 2022
Incoming resources
Resources expended
At 31 July 2023
£
£
£
£
MUGA Capital expenditure fund
48,552
-
(6,936)
41,616
Height restriction barrier fund
1,000
1,550
(2,550)
-
Mower fund
10,756
-
(1,344)
9,412
Fun olympics & BBQ community event
1,601
-
(1,601)
-
VSEF Grant
1,350
-
(1,350)
-
Gwynt Y Mor grant
12,000
-
(7,647)
4,353
Changing rooms restoration
-
5,000
-
5,000
75,259
6,550
21,428
60,381
KINMEL BAY & TOWYN SPORTS AND RECREATION ASSOCIATION LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 14 -
16
Unrestricted funds

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.

At 1 August 2023
Incoming resources
Resources expended
At 31 July 2024
£
£
£
£
Social Enterprise Academy
-
1,000
-
1,000
General funds
22,374
24,504
(27,116)
19,762
22,374
25,504
(27,116)
20,762
Previous year:
At 1 August 2022
Incoming resources
Resources expended
At 31 July 2023
£
£
£
£
General funds
19,110
21,371
(18,107)
22,374
17
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 July 2024:
Tangible assets
10,317
42,747
53,064
Current assets/(liabilities)
10,445
5,000
15,445
20,762
47,747
68,509
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 July 2023:
Tangible assets
11,742
51,028
62,770
Current assets/(liabilities)
10,632
9,353
19,985
22,374
60,381
82,755
18
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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