The trustees present their annual report and financial statements for the year ended 31 August 2025.
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).
The charity's objects are are to promote the education of children, young persons and the general public and to improve the quality of life for all such persons by providing basketball and other sporting and recreational facilities for the community of the Furness peninsula areas of Cumbria.
To achieve this the company;
Offers opportunities for a broad range of people to get involved in sporting activities
Provides facilities for both able and disabled people to be involved in sporting activities
Helps young people to develop their sporting abilities
Promotes sporting events to allow people in the Furness area to watch sportspersons of higher ability perform
Allows local schools to use the sports centre, owned by the charity, at very special rates to encourage education of children in sport
There has been no change in these during the year.
The charity's aim is to generate sufficient income to meet the cost of running the sports centre. The Trustee's are mindful of the need to continue to raise funds.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity has continued to achieve its main aim in the year, providing sport facilities. The main source of the income has been from the use of the sports hall £47,119 (2024 - £45,441)
The total income for the year was £54,628 (2024 - £75,502) with the other main sources of income being the lease with PCT for use of the gym £5,959 (2024 - £19,377) and £NIL (2024 - £9,446) being received from local council grants
Total expenditure in the year amounted to £84,719 (2024 - £107,965)
The deficit for the year of £30,091 (2024 - £32,463) has arisen mainly due to the depreciation charge of £25,061 (2024 - £24,957)
The fund balances at the year end were as follows;
Unrestricted fund £ 36,069
Restricted fund £594,289
The Trustees meet as a group each month where possible and consider the opportunities available to the charity and the risk to which it is exposed.
The strategic plan of the charity is to maintain and develop the Hoops Basketball Centre, whilst exploring the availability of further funding.
The Trustees are mindful of the fact that the free reserves are relatively low and in order to develop the centre further they plan to build reserves in the future by:
keeping expenditure to a minimum
pursuing sources of external funding
exploiting opportunities to utilise the company's assets to generate revenue.
It is the policy of the charity that unrestricted funds which have not been designated for specific use should be maintained at a level equivalent to three month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, the 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.
Under the Memorandum and Articles of Association the charity has the power to make any investment which the Trustees see fit.
The Trustees have assessed the major risks to which the charity is exposed each financial year when preparing and updating their plans for the year end. The charity has developed systems to monitor and control these risks to mitigate any impact that they may have in the future.
The charity is a company limited by guarantee and is governed by it's memorandum and articles of association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Trustees retiring at the annual general meeting can then put themselves forward for re-election. Trustees are then voted for by those members in attendance.
Suggestions for new trustees are brought before the board, based on members of the local sports community that currently use the facilities. If agreed that person is then approached and asked if they are willing to undertake the role of Trustee for Barrow Community Basketball and Sports Association Limited. Documented appointment procedures are then followed.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The charity is controlled by its board of Trustees which is made up of representatives of various sporting groups in the Furness area.
The day to day operation of the sports hall has been delegated to Mr Christopher Smith.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Barrow Community Basketball and Sports Association Limited (the charity) for the year ended 31 August 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
I have completed my examination. The charity receives a proportion of total income from the hire of the sports hall to basketball clubs for training and residentials. During the year, the trustees discovered that the sports hall has been used in prior years for some events 'free of charge' without correct approval by the trustees. They started a review of this and some monies have now been received for some periods in question and these have been included in the income this year. The Trustees are still investigating the matter further to see if any further monies are owed and can be recovered. Due to the issues being historic the Trustees are not yet in a position to fully quantify if any additional sums will be recovered and therefore no adjustments have been made in these accounts for any potential additional funds. The Trustees hope to complete their review by the end of the next financial year and any sums recovered or owed will be include in those accounts.
I confirm that apart from the matter of concern set out above, no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I confirm that there are 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.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Barrow Community Basketball and Sports Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Hoops Basketball Centre, Thorncliffe Road, Barrow in Furness, Cumbria, LA14 5QA.
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, 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.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds relate to the cost of building the sports centre from monies given by the English Sports Council. The charity would have to obtain the written approval of the English Sports Council before it could sell, lease or otherwise dispose of the building. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
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.
Interest is included when receivable by the charity.
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.
Resources expended are included in the statement of financial activities on an accrual basis, inclusive of any VAT, which cannot be recovered, and directly attributed to a specific activity.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Only items costing over £1,000 are capitalised. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
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.
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, 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.
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.
Funds
Unrestricted funds are funds which the trustees are free to use in accordance with the charitable objectives and which have not been designated for other purposes.
Restricted funds relate to the cost of building the sports centre from monies given by the English Sports Council, The charity would have to obtain the written approval of the English Sports Council before it could sell, lease or otherwise dispose of the building.
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.
Donations
Grants receivable for core activities
None of the trustees (or any persons connected with them) received any remuneration during the year.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The sports centre is built on land leased from Cumbria County Council. The lease is for 50 years with annual rent payable of £1.
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.
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.
The remuneration of key management personnel was as follows: