West Wight Sports Centre Trust Limited - Charities report

REGISTERED COMPANY NUMBER: 01266607 (England and Wales)

REGISTERED CHARITY NUMBER: 273334

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

WEST WIGHT SPORTS AND COMMUNITY CENTRE

TRUST LIMITED

Page

Report of the Trustees

1

to

7

Report of the Independent Auditors

8

to

10

Statement of Financial Activities

11

Balance Sheet

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

to

27

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 March 2025. 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 objectives of the charity are to provide facilities for recreation, or other leisure time occupation, by the public. The principal activities are the management and running of West Wight Sports and Community Centre, Freshwater, Isle of Wight for the benefit of clubs and the public.

To this end the aims and objectives of the charity for the year were to:

-

Continue to provide a range of sports, including swimming to the community and to increase participation.

-

Increase the opportunities for the achievement of excellence in sport.

-

Develop further links within the community, encouraging and supporting healthy lifestyles.

-

Working in partnership with other agencies to provide support and information to the local community.

-

Assess the environmental impact of our business and continue to strive to reduce it.

Public benefit

The company's charitable status embodies the provision of social welfare and facilities for recreation for the public benefit. In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity’.

ACHIEVEMENTS AND PERFORMANCE

Review of activities

The year ending 31 March 2025 has been a good one for West Wight Sports & Community Centre. Our gross turnover is now £1.26 million, membership has increased to almost 1,000 members and participation rates have never been higher.

On behalf of the Board of Trustees, I would like to thank Clare Griffin, the Centre Manager, Jason Fennimore, Shannon Kilcullen and the whole team for their hard work and commitment, which has made WWSCC such an important asset to the community in the West Wight. We are here for everyone and it has been great to see such a broad spectrum of society using our facilities every day of the week.

The team has been strengthened by the appointment of a Health & Safety Manager (Michelle Pitman) to develop our safety culture and a Business Transformation Lead (Nikki Meeking) to drive our change and efficiency initiatives.

I would also like to highlight the work of Adam Tucker, our Community Connector, who is often the first point of contact for many in need. He fulfils multiple roles, supporting vulnerable people and helping them access support services.

Below are some of the highlights from the year to show the range of our activities:

- The number of people playing pickleball continues to grow and grow. We employed a dedicated coach (Kay Montagu), held group coaching sessions and hosted a Pickleball Festival

- The Solent Swim in September raised £27,000 with 51 swimmers. Many thanks to the 30 kayakers, boat crews, Freshwater Lifeboat, Needles Coastwatch, the many volunteers and Captain's Cabin for making it all possible. This remains our biggest, single fund-raising event

- The installation of PV panels and triple glazing (by the pool) to reduce our energy costs

- We took part in Drowning Prevention Week in June with 700 children participating - one measure to counteract a worrying decline in state school swimming provision

- A partnership with Freshwater Bay Golf Club to provide golf lessons for children

- New activities offered include youth boxing, walking basketball and a dedicated exercise class for pregnancy

- Installation of a Changing Places Toilet for disabled users

- A partnership with Parkinson's UK to deliver exercise classes for those with Parkinson's Disease

- PSI (Postural Stability Instructor) trained staff, thanks to Shannon Kilcullen's efforts, whereby NHS physios are now directly referring patients directly to us. We have been credited for work with aquatic therapy at Chartered Society of Physiotherapy Conference

Thanks go to Totland Parish Council, Yarmouth Town Council and Shalfleet Parish Council for their financial support. Thanks also go to Yarmouth Harbour Commissioners and Hampshire & IOW Community Fund for their grants related to pickleball and youth boxing. We received money from Tesco Groundworks for a children's gardening project and one generous individual donated £27,500.

Thanks to prudent management and a close control on costs, the Centre managed to produce a modest operating surplus.

There have been a few changes in the Board of Trustees. I took over as Chair in October 2024 from Gill Kennett, who served 13 years in that role! Thankfully she has agreed to continue serving as a Trustee. Ann Freeman has taken over from Mark Webber as Vice Chair, though he too remains on the Board. We were joined by Alan Dowie (at the end of March 2024) and Chloe Searl (July 2024). We said goodbye to George Cameron and Paddy Noctor who stepped down due to other commitments. George Thomson has also resigned but will remain our Honorary President. Michael Coyle and John Howe have subsequently left the Board of Trustees in this current Financial Year, but we hope to make an announcement on new Trustees shortly.

As to the future, we do have a few challenges for the coming year (2025-6). Increases in Employers' National Insurance Contribution and the Minimum Wage have raised our costs significantly. Consequently, we have been forced to raise our prices whilst simultaneously trying to maintain our policy of 'affordability' and access for as many users as possible.

Finally, a thank you to all our volunteers, donors, helpers, supporters, members, customers, visitors, trustees and advocates who help make West Wight Sports & Community Centre what it is today.

Fundraising

The charity co-ordinates fundraising internally and does not employ any external fundraising agencies. The fundraising does not involve contacting or pursuing specific individuals for donations. The charity worked to ensure that fundraising was appropriate and was carried out in compliance with GDPR. No complaints have been received in respect of fundraising.

FINANCIAL REVIEW

Financial Review

Total income for the year amounted to £1,259,612 (2024: £1,256,574). Costs of generating funds amounted to £50,232 (2024: £51,325) and costs of charitable activities amounted to £1,105,364 (2024: £1,044,123). Unrestricted and restricted funds carried forward at the end of the year amounted to £2,529,479 (2024: £2,405,758) and £3,255 (2024: £23,160) respectively.

Reserves policy

The charities reserves, being defined as the unrestricted funds of the charity which are freely available to spend on any of the charity's purposes, are made up as follows:

2025

2024

£

Net assets

2,532,734

2,428,918

Less:

Fixed assets

1,975,617

1,928,647

Restricted funds

3,256

23,160

Reserves available

553,861

477,111

Fixed assets represent the book value of the land, buildings and equipment used in the operation of the centre, and whilst the value is substantial these are essential to the operations of the centre and cannot be liquidated to provide further operating funds. Restricted funds are grants and donations received for specific purposes as outlined in the notes to the accounts and can only be expended for the purpose for which they were donated.

Reserves are essential to the running of the centre, and in ensuring it continues to meet the needs of its users and the community. The reserves are used to provide working capital for the day to day running of the centre, ensure there is a financial safety net for any unexpected requirements and to provide for the potential and occasionally substantial costs required in maintaining the centre.

Reserves held at the year end have improved and are back up to a level where they cover approximately six months operating costs for the centre. The trustees feel it is prudent to aim to increase reserves to cover approximately nine months operating expenditure.

Included within reserves is a Repairs Contingency fund of £150,000 at the year end. These are funds that are available for general spending purposes, but which the trustees feel it is prudent to set to cover the potentially substantial costs of unplanned repairs and replacement to pool and other equipment not covered by the annual rolling maintenance programme. During the year pool equipment costing over £60,000 had to be replaced, the costs of this are being written off in the accounts over ten years, but the cash expenditure for these costs had to be paid from free reserves in full this year.

FUTURE PLANS

We need to ensure that our facilities can meet the ever-increasing demand and we are therefore looking at means to provide more capacity. We shall be investing in new software to enable even more children to have swimming lessons over a longer period. The pool, which is at the heart of what we do will soon be celebrating its 50th birthday. Our assumption is that it won't celebrate its 100th, so between now and then we need to ensure we can continue to provide the amenity which is essential to all in the West Wight. Planning for that is already underway.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

West Wight Sports and Community Centre Trust Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 11 March 1976 as amended 17 March 1977. It has been registered as a charity with the Charity Commission since 29 April 1977.

Charity constitution

The charity is governed by the Council of management made up of the Trustees of the charity. All members of the council are directors and members of the company and are referred to as Trustees throughout the accounts in accordance with applicable law. Their liability in the event of winding up the company would amount to £10, being the amount of the guarantee. No member held any interest in the company during the two years prior to 31 March 2025.

Recruitment and appointment of new trustees

Members of the council of management are elected at the Annual General Meeting to serve for an initial 3 year period after which they are eligible to stand for re-election. A third of the Trustees stand down at each Annual General Meeting but can stand for re-election. Prospective members of the council are initially approached by a member of the board prior to nomination being proposed at the annual general meeting. Subject to such proposal receiving the full support of the board, the proposed new trustee is invited to join the board and following their acceptance is fully briefed as to charity matters and the aims and objectives of the charity at the first board meeting at which they attend. Any member co-opted as a Trustee in the intervening period is subject to ratification at the next Annual General Meeting. Trustee Guidelines have been produced and issued to all existing and prospective Trustees.

Organisational structure

The Council of Management (or Board of Trustees) meets on a quarterly basis to consider relevant issues relating to the charity. There are also 3 sub-committees for Finance, Operations & Staffing and Strategic Development which also meet quarterly and report to the subsequent full Board Meeting. A centre manager is appointed by the council of management to manage the strategic and day to day operations of the charity.

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

01266607 (England and Wales)

Registered Charity number

273334

Registered office

Moa Place

Freshwater

Isle of Wight

PO40 9XH

Trustees

Dr G Thomson

- President (resigned 24.04.25)

Mrs G Kennett MBE

Mr J B Awty

Mr J Howe

(resigned 24.04.25)

Mr D Hancock

Mr C E Fleury

(resigned 04.04.24)

Mr M J Webber

Mr M Coyle

(resigned 24.04.25)

Mr P Noctor

(resigned 24.04.25)

Mr G Cameron

(resigned 28.11.24)

Mr R Barton-Wood

Mrs A Freeman

- Vice-Chair

Mr R G Ryan

- Chair

Ms C Searl

(appointed 25.07.24)

Mr A Dowie

Auditors

MC Audit Limited

Chartered Accountants

Statutory Auditors

Station House

North Street

Havant

Hampshire

PO9 1QU

Bankers

Lloyds TSB Plc

22 St. Thomas' Square

Newport

Isle of Wight

PO30 1SQ

Accountants

Bright Brown Limited

Exchange House

St. Cross Lane

Newport

Isle of Wight

PO30 5BZ

Centre manager

Clare Griffin

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of West Wight Sports and Community Centre Trust Limited 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. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

-	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, MC Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 30 October 2025 and signed on its behalf by:

Robert G Ryan - Trustee

Opinion

We have audited the financial statements of West Wight Sports and Community Centre Trust Limited (the 'charitable company') for the year ended 31 March 2025 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 31 March 2025 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; or

-	the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

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:

As part of our audit procedures, we held discussions with management and those charged with governance to obtain an understanding of the entity and its operations. These discussions included management's assessment of key risks, including irregularities, the potential for fraud, and the organisation's ability to continue as a going concern.

Based on these discussions and our independent risk assessment, we identified the key areas of audit focus as:

- Income recognition, particularly in relation to timing and cut-off issues.

- Management override of controls, considering the size and structure of the organisation.

We determined overall financial statement materiality based on income levels, as this is considered the most relevant benchmark for a not-for-profit entity. Performance materiality was set at an appropriate level, reflecting our risk assessment.

Our audit approach included testing of internal controls and the design and execution of substantive procedures. The internal control systems in place, designed to prevent and detect fraud and error, were found to be operating as intended. Substantive testing was performed on a representative sample and did not identify any material misstatements.

Based on our substantive audit work, no material errors were identified in the key areas of income recognition or management override of controls.

We also considered the organisation's compliance with applicable laws and regulations and found no evidence to suggest a material risk of non-compliance that would affect the financial statements.

Management has concluded that the entity is a going concern. We have reviewed supporting budgets and management accounts and found no evidence to contradict this assessment.

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.

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.

P Underwood (Senior Statutory Auditor)

for and on behalf of MC Audit Limited

Chartered Accountants

Statutory Auditors

Station House

North Street

Havant

Hampshire

PO9 1QU

12 November 2025

2025

2024

Unrestricted

Restricted

Total

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

95,351

140,705

236,056

340,393

Charitable activities

5

Centre operations

908,332

-

908,332

805,608

Other trading activities

3

91,442

-

91,442

96,557

Investment income

4

23,782

-

23,782

14,016

Total

1,118,907

140,705

1,259,612

1,256,574

EXPENDITURE ON

Raising funds

6

50,232

-

50,232

51,325

Charitable activities

7

Centre operations

1,030,803

74,761

1,105,564

1,044,123

Total

1,081,035

74,761

1,155,796

1,095,448

NET INCOME

37,872

65,944

103,816

161,126

Transfers between funds

20

85,849

(85,849

)

-

Net movement in funds

123,721

(19,905

)

103,816

161,126

RECONCILIATION OF FUNDS

Total funds brought forward

2,405,758

23,160

2,428,918

2,267,792

TOTAL FUNDS CARRIED FORWARD

2,529,479

3,255

2,532,734

2,428,918

2025

2024

Notes

£

FIXED ASSETS

Tangible assets

14

1,975,617

1,928,647

CURRENT ASSETS

Stocks

15

5,591

5,790

Debtors

16

61,576

38,506

Cash at bank and in hand

570,668

629,354

637,835

673,650

CREDITORS

Amounts falling due within one year

17

(80,718

)

(173,379

)

NET CURRENT ASSETS

557,117

500,271

TOTAL ASSETS LESS CURRENT LIABILITIES

2,532,734

2,428,918

NET ASSETS

2,532,734

2,428,918

FUNDS

20

Unrestricted funds

2,529,478

2,405,758

Restricted funds

3,256

23,160

TOTAL FUNDS

2,532,734

2,428,918

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 30 October 2025 and were signed on its behalf by:

Robert G Ryan - Trustee

Cash flows from operating activities

Cash generated from operations

1

16,265

260,981

Interest paid

-

(38

)

Net cash provided by operating activities

16,265

260,943

Cash flows from investing activities

Purchase of tangible fixed assets

(98,733

)

(65,946

)

Interest received

23,782

14,016

Net cash used in investing activities

(74,951

)

(51,930

)

Change in cash and cash equivalents in the

reporting period

(58,686

)

209,013

Cash and cash equivalents at the beginning

of the reporting period

629,354

420,341

Cash and cash equivalents at the end of the

reporting period

570,668

629,354

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025

2024

£

Net income for the reporting period (as per the Statement of Financial

Activities)

103,816

161,126

Adjustments for:

Depreciation charges

51,763

44,109

Interest received

(23,782

)

(14,016

)

Interest paid

-

38

Decrease in stocks

199

4,760

(Increase)/decrease in debtors

(23,070

)

11,866

(Decrease)/increase in creditors

(92,661

)

53,098

Net cash provided by operations

16,265

260,981

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

Net cash

Cash at bank and in hand

629,354

(58,686

)

570,668

629,354

(58,686

)

570,668

Total

629,354

(58,686

)

570,668

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.

Going concern

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. Accordingly they continue to adopt the going concern concept in preparing these financial statements.

Income

Income is recognised in the Statement of Financial Activities, net of VAT if applicable, once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income recieved for events that will not take place in the year is deferred and shown within creditors to be recognised as income in the year the event takes place.

Income recieved in advance for membership to the centre is recognised over the period of time to which the membership relates, with the element relating to the following year being deferred and shown within creditors at the year end.

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.

Expenditure is recorded net of VAT. The charity is subject to partial exemption for VAT. Irrecoverable VAT is shown separately in the statement of financial activities unless it relates to tangible fixed assets when it is charged against the same category of asset as the cost to which it relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

Over the period of the lease

Improvements to property

-

Over the period of the lease

Plant and machinery

-

Straight line over 3 to 20 years

At each balance sheet date, the charity reviews the carrying amounts of its property, plant and machinery to determine whether there is any indication that any items of property, plant and machinery have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Income arising from centre operations is considered to be generated in furtherance of the primary purposes of the centre, and is therefore, exempt from corporation tax.

Income arising from activities to generate funds is considered to arise from activities ancillary to the charitable purpose of the centre, or fall within the bounds of the HM Revenue and Customs "small trading exemption" for charities, and are therefore, exempt from corporation tax.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds represent funds set aside by the trustees out of unrestricted funds for specific future purposes or projects.

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.

Leasing commitments

Rentals paid under operating leases are charged to resources expended evenly over the term of the lease.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

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.creditors

Trade and other debtors

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscovered amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions and contingencies

Provisions are recognised where, at the year end, an event has taken place that gives the charity an obligation where it is considered more likely than not that a payment or other transfer of economic benefits will be required, but where the timing and amount of such payment are uncertain.

Where recognised provisions are charged to the appropriate expense heading in the statement of financial activities in the year they are recognised at the best estimate of the likely amount payable. Payments made in settlement of the obligation are charged to the provision, and at the end of each year outstanding provisions are reviewed and adjusted as necessary in line with best estimates at that time.

Where it is uncertain that there is an obligation at the year end, it is considered more likely than not that no payment will be required, or it is not possible to reliably estimate the amount payable no provision will be recognised in the accounts but a note of the circumstances arising will be recorded as a contingent liability.

2.	DONATIONS AND LEGACIES

2025

2024

Unrestricted

Restricted

Total

funds

£

Donations

37,351

-

37,351

63,652

Legacies

1,057

-

1,057

106,989

Grants

29,350

140,705

170,055

143,770

Sponsored events

27,593

-

27,593

25,982

95,351

140,705

236,056

340,393

Grants received, included in the above, are as follows:

2025

2024

£

Freshwater Parish Council

-

28,500

Totland Parish Council

16,000

15,183

Yarmouth Town Council

9,350

8,500

Shalfleet Parish Council

3,000

250

Hampshire & Isle of Wight Community Foundation (HIWCF)

5,000

8,500

Visit Isle of Wight

-

6,500

Isle of Wight Council

1,000

-

Yarmouth Harbour Commission

5,000

IW Foodbank

-

1,250

Aspire

20,000

Community Action IW

14,554

14,087

Changing Places

8,336

36,000

Sport England

86,315

-

Tesco

1,500

-

170,055

143,770

Government grants included in the above, including funds from local and parish councils were £115,665 (2024: £52,433).

3.	OTHER TRADING ACTIVITIES

2025

2024

Unrestricted

Restricted

Total

funds

£

Cafe sales

40,571

-

40,571

37,214

Retail sales

7,887

-

7,887

8,497

Leased rentals

18,435

-

18,435

22,456

Car parking income

23,110

-

23,110

23,487

Other activities

1,439

-

1,439

4,903

91,442

-

91,442

96,557

4.	INVESTMENT INCOME

2025

2024

Unrestricted

Restricted

Total

funds

£

Investment interest

23,782

-

23,782

14,016

5.	INCOME FROM CHARITABLE ACTIVITIES

2025

2024

Activity

£

Memberships and centre fees

Centre operations

865,192

761,516

Room hire

Centre operations

43,140

44,092

908,332

805,608

6.	RAISING FUNDS

Raising donations and legacies

2025

2024

Unrestricted

Restricted

Total

funds

£

Fund raising expenses

106

-

106

1,220

Other trading activities

2025

2024

Unrestricted

Restricted

Total

funds

£

Purchases

26,559

-

26,559

27,318

Staff costs

23,101

-

23,101

19,812

Cafe expenses and equipment

466

-

466

2,975

50,126

-

50,126

50,105

Aggregate amounts

50,232

-

50,232

51,325

7.	CHARITABLE ACTIVITIES COSTS

Direct

Costs (see

note 8)

£

Centre operations

1,105,564

8.	DIRECT COSTS OF CHARITABLE ACTIVITIES

2025

2024

£

Staff costs

707,168

637,364

Other operating leases

1

Rates and water

15,505

16,126

Insurance

48,639

39,319

Light and heat

80,671

78,929

Telephone

3,622

2,830

Postage and stationery

3,541

4,268

Advertising

1,096

268

Sundries

3,371

4,291

Chlorine and acid

16,189

13,459

Centre activities

30,149

47,649

Training

10,926

8,280

Cleaning and waste disposal

13,994

10,299

Repairs and renewals

32,949

41,630

Irrecoverable VAT

29,026

49,268

IT, software and consumables

5,264

5,215

Subscriptions

18,486

19,822

Bank charges and interest

6,302

6,561

Accountancy

9,060

10,072

Legal and professional fees

4,642

3,917

Bad debts

-

408

Audit

13,200

-

Depreciation

51,763

44,109

Interest payable and similar charges

-

38

1,105,564

1,044,123

9.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

Depreciation - owned assets

51,763

44,109

Other operating leases

1

Auditors' remuneration

6,700

-

Auditors' remuneration (prior year)

6,500

-

10.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustee's expenses totalling £124 were repaid to 1 trustee in respect of travel expenses incurred during the course of the charity's operations.

11.	STAFF COSTS

2025

2024

£

Wages and salaries

685,506

618,595

Social security costs

33,919

31,803

Other pension costs

10,844

6,778

730,269

657,176

The average monthly number of employees during the year was as follows:

2025

2024

Charitable activities

54

50

Remuneration to key management personnel was £133,843.

No employees received emoluments in excess of £60,000.

12.	MATERIAL TRANSFERS

Restricted fund expenditure of a capital nature, mainly the purchase of equipment, is included in fixed asset additions at the time of the purchase.

An amount equal to the lower of the income received in respect of the equipment or the cost of this equipment is transferred from the restricted fund to the fixed asset fund, provided that this equipment may be used by the charity for its general application.

Depreciation on this equipment will be charged against the fixed asset fund. A transfer from the restricted fund to the fixed asset fund will not be made for fixed asset additions that are not capable of being used by the charity for general purposes. Depreciation in respect of this type of asset will be charged against restricted funds.

13.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

244,056

96,337

340,393

Charitable activities

Centre operations

805,608

-

805,608

Other trading activities

96,557

-

96,557

Investment income

14,016

-

14,016

Total

1,160,237

96,337

1,256,574

EXPENDITURE ON

Raising funds

51,325

-

51,325

Charitable activities

Centre operations

989,885

54,238

1,044,123

Total

1,041,210

54,238

1,095,448

NET INCOME

119,027

42,099

161,126

Transfers between funds

43,972

(43,972

)

-

Net movement in funds

162,999

(1,873

)

161,126

RECONCILIATION OF FUNDS

Total funds brought forward

2,242,759

25,033

2,267,792

TOTAL FUNDS CARRIED FORWARD

2,405,758

23,160

2,428,918

The above figures show the fund details for the comparative figures to 31 March 2024 as shown on the Statement of Financial Activities.

14.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

Totals

£

COST

At 1 April 2024

2,481,435

169,116

603,687

3,254,238

Additions

-

32,449

66,284

98,733

At 31 March 2025

2,481,435

201,565

669,971

3,352,971

DEPRECIATION

At 1 April 2024

857,870

6,176

461,545

1,325,591

Charge for year

16,399

1,973

33,391

51,763

At 31 March 2025

874,269

8,149

494,936

1,377,354

NET BOOK VALUE

At 31 March 2025

1,607,166

193,416

175,035

1,975,617

At 31 March 2024

1,623,565

162,940

142,142

1,928,647

15.

STOCKS

2025

2024

£

Stocks

5,591

5,790

16.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

14,104

21,778

Other debtors

34,523

5,836

Prepayments

12,949

10,892

61,576

38,506

17.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

12,055

62,155

Social security and other taxes

10,750

8,343

VAT

2,385

13,256

Other creditors

452

257

Deferred income

38,198

78,247

Accrued expenses

16,878

11,121

80,718

173,379

Deferred income reconciliation

2025

£

Balance at 1 April 2024

78,247

Amount released to the statement of financial activities

(78,247

)

Amount deferred in the year

38,198

Balance at 31 March 2025

38,198

18.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

Within one year

1

Between one and five years

4

In more than five years

93

94

98

99

19.	ANALYSIS OF NET ASSETS BETWEEN FUNDS

2025

2024

Unrestricted

Restricted

Total

funds

£

Fixed assets

1,975,617

-

1,975,617

1,928,647

Current assets

634,579

3,256

637,835

673,650

Current liabilities

(80,718

)

-

(80,718

)

(173,379

)

2,529,478

3,256

2,532,734

2,428,918

20.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1.4.24

in funds

funds

31.3.25

£

Unrestricted funds

General fund

327,111

89,634

(12,884

)

403,861

Fixed asset fund

1,928,647

(51,763

)

98,733

1,975,617

Contingency fund

150,000

-

150,000

2,405,758

37,871

85,849

2,529,478

Restricted funds

Community Connector

20,399

(19,904

)

-

495

Kick Out The Calories

2,761

-

2,761

Swimming Pool Recovery Fund (Sport

England)

-

85,849

(85,849

)

-

23,160

65,945

(85,849

)

3,256

TOTAL FUNDS

2,428,918

103,816

-

2,532,734

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

1,118,907

(1,029,273

)

89,634

Fixed asset fund

-

(51,763

)

(51,763

)

1,118,907

(1,081,036

)

37,871

Restricted funds

Community Connector

39,554

(59,458

)

(19,904

)

Changing Places

8,336

(8,336

)

-

Pickleball

5,000

(5,000

)

-

Garden Kids Project (Tesco Stronger Starts)

1,500

(1,500

)

-

Swimming Pool Recovery Fund (Sport

England)

86,315

(466

)

85,849

140,705

(74,760

)

65,945

TOTAL FUNDS

1,259,612

(1,155,796

)

103,816

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1.4.23

in funds

funds

31.3.24

£

Unrestricted funds

General fund

185,949

163,136

(21,974

)

327,111

Fixed asset fund

1,906,810

(44,109

)

65,946

1,928,647

Contingency fund

150,000

-

150,000

2,242,759

119,027

43,972

2,405,758

Restricted funds

Community Connector

22,272

(1,873

)

-

20,399

Kick Out The Calories

2,761

-

2,761

Changing Places

-

43,972

(43,972

)

-

25,033

42,099

(43,972

)

23,160

TOTAL FUNDS

2,267,792

161,126

-

2,428,918

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

1,160,237

(997,101

)

163,136

Fixed asset fund

-

(44,109

)

(44,109

)

1,160,237

(1,041,210

)

119,027

Restricted funds

Community Connector

50,338

(52,211

)

(1,873

)

Changing Places

45,999

(2,027

)

43,972

96,337

(54,238

)

42,099

TOTAL FUNDS

1,256,574

(1,095,448

)

161,126

Unrestricted Funds

The fixed asset fund represents the net book value of fixed assets available for the unrestricted purposes of the charity. These assets, comprising in large part of the property the centre operates from, are essential to the running of the charity but do not represent liquid funds the charity can use to cover running costs.

The repairs contingency fund represents funds set aside as provision against potential repairs costs arising in respect of the centre. The fund is reviewed annually by the trustees and takes in to account the maintenance plan and current costs of recent expenditure.

Restricted Funds

The Community Connector fund is for the provision of an employee to support community members who are isolated, getting them more involved in the community and helping them to achieve their idea of a good life.

The Kick Out the Calories fund is for the delivery of a football league for adults who want to be more active, more often. The aim of the league is to help those adults get fitter, lose weight and enjoy playing football.

The Changing Places fund has been provided for the building and provision of an accessible toilet in the centre.

The Pickleball fund is for the purchase of pickleball equipment and provision of pickleball in the centre.

The Garden Kids Project is for the purchase of gardening tools and materials and provision of gardening skills to local children.

The Swimming Pool Recovery Fund is for capital investment to improve the energy efficiency of the centre.

Transfers between funds

£6,047 was transferred from the general fund and £92,686 was transferred from the Swimming Pool Recovery Fund to the fixed asset fund reflecting the cost of equipment purchased during the year by these funds.

£6,837 was transferred from the general fund to the Swimming Pool Recovery Fund to cover expenses on the restricted in excess of funds received.

21.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.