REGISTERED COMPANY NUMBER: 05206698 (England and Wales)

REGISTERED CHARITY NUMBER: 1120820

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Ashford Leisure Trust.

(A company limited by guarantee)

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Statement of Financial Position

6

to

7

Notes to the Financial Statements

8

to

11

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 charitable company is a grant awarding trust, using the reserves that remained following the transfer of leisure operations to Wealden Leisure Limited. The objective is:

''To promote community participation in healthy recreational activity in the Borough of Ashford by providing grants, awards and/or financial assistance to individuals, clubs, organisations and/or sports teams''

How our activities deliver public benefit

All our charitable activities focus on the support of recreational and sporting facilities and services for the local community and are undertaken to further our charitable purpose for the benefit of the public.

Public Benefit Statement

The trustees confirm that they have complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.

We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

In 2020 the Trust wound up its operational functions following the outcome of a procurement process carried out with Ashford Borough Council (ABC), the leaseholder of the facilities. The Trust then moved towards its new function as a grant-giving entity. The transfer of operational activities to Wealden Leisure Limited, trading as Freedom Leisure, took place on 1st September 2020.

The Trust contracted with Kent Community Foundation to support its grant-giving function. Two grant-funding meetings are held each year. In the 2023/24 accounting period a further £55,000 was awarded to organisations that met our criteria for funding. In addition, we have supported 19 talented sportspeople who reside in the borough of Ashford with a bursary of £500 each. Additional costs for the charity have been to pay the Kent Community Foundation for their services in co-ordinating the grant giving process, and funding a celebratory event for the Talented Sportsperson programme, which included a talk from an inspirational sportsperson.

The bulk of the funds held by the Trust remain invested in an expendable endowment with CCLA, an investment company specialising in managing investments for charities. This enables the Trustees to draw down funds to support grant giving as needed.

FINANCIAL REVIEW

Reserves policy

The Charitable Company has free reserves of £689,551 at 31 March 2024.

When considering the level of free reserves that the Charitable Company should hold, the trustees have now considered their altered objects and believe that a level of reserves sufficient to facilitate their grant giving objects is now required and this is significantly below the level of reserves currently held, following the transfer of the pension scheme liability to Ashford Borough Council and settlement of existing liabilities.

Having taken all of this into consideration the trustees believe that reserves of £60,000 would be sufficient to enable the Charitable Company to operate on a day to day basis with a low overhead base. The trustees monitor the level of reserves and will adjust the required reserves accordingly should any unforeseen circumstances require it, or if the Charitable Company were to require higher free reserves for specific activities at any time.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Ashford Leisure Trust. is a company limited by guarantee and governed by its Memorandum and Articles of Association dated 16 August 2014. It became a charity registered with the Charity Commission on 12 September 2007.

Recruitment and appointment of new trustees

Trustees are appointed in accordance with the Memorandum and Articles of Association.

Organisational structure

The board of trustees, which can have up to twelve members excluding representative trustees, administers the charitable company and manages the day to day operations of the charitable company. The Board meets at least once every two months.

Induction and training of new trustees

New trustees undergo an induction to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making process, the business plan and recent financial performance of the charitable company. During the induction process they meet trustees (if they have not met these already). Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05206698 (England and Wales)

Registered Charity number

1120820

Registered office

Unit 1

Shrine Barn

Sandling Road

Hythe

Kent

CT21 4HE

Trustees

Mrs L Dodds

Mr C W A Vavasour

Mr M W Bowles

Mr P H Dawson

Independent Examiner

Ardor Business Solutions Limited

Chartered Certified Accountants

Unit 1

Shrine Barn

Sandling Road

Hythe

Kent

CT21 4HE

Solicitors

Winckworth Sherwood

Minerva House

5 Montague Close

LONDON

SE1 9BB

Approved by order of the board of trustees on 26 June 2025 and signed on its behalf by:

Mrs L Dodds - Trustee

Independent examiner's report to the trustees of Ashford Leisure Trust. ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts 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 accounts 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 accounts to be reached.

Bryan Michael Kemsley

Ardor Business Solutions Limited

Chartered Certified Accountants

Unit 1

Shrine Barn

Sandling Road

Hythe

Kent

CT21 4HE

26 June 2025

31/3/25

31/3/24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Investment income

2

986

-

986

1,440

EXPENDITURE ON

Charitable activities

Grant making activities

99,130

-

99,130

64,129

Net gains/(losses) on investments

(5,614

)

-

(5,614

)

70,828

NET INCOME/(EXPENDITURE)

(103,758

)

-

(103,758

)

8,139

RECONCILIATION OF FUNDS

Total funds brought forward

689,551

-

689,551

681,412

TOTAL FUNDS CARRIED FORWARD

585,793

-

585,793

689,551

31/3/25

31/3/24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

CURRENT ASSETS

Debtors

5

145

-

145

110

Investments

6

502,888

-

502,888

608,502

Cash at bank

83,840

-

83,840

81,659

586,873

-

586,873

690,271

CREDITORS

Amounts falling due within one year

7

(1,080

)

-

(1,080

)

(720

)

NET CURRENT ASSETS

585,793

-

585,793

689,551

TOTAL ASSETS LESS CURRENT LIABILITIES

585,793

-

585,793

689,551

NET ASSETS

585,793

-

585,793

689,551

FUNDS

8

Unrestricted funds

585,793

689,551

TOTAL FUNDS

585,793

689,551

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 26 June 2025 and were signed on its behalf by:

Mrs L Dodds - Trustee

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.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

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.

Presentation currency

The Charitable Company's functional currency is British Pound Sterling (GBP), which is also the presentation currency for the Charitable Company. The financial statements are therefore presented in British Pound Sterling.

2.	INVESTMENT INCOME

31/3/25

31/3/24

£

£

Deposit account interest

986

1,440

3.	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.

4.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Investment income

1,440

-

1,440

EXPENDITURE ON

Charitable activities

Grant making activities

64,129

-

64,129

Net gains on investments

70,828

-

70,828

NET INCOME

8,139

-

8,139

RECONCILIATION OF FUNDS

Total funds brought forward

681,412

-

681,412

TOTAL FUNDS CARRIED FORWARD

689,551

-

689,551

5.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Prepayments and accrued income

145

110

6.	CURRENT ASSET INVESTMENTS

31/3/25

31/3/24

£

£

Other

502,888

608,502

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Accrued expenses

1,080

720

8.	MOVEMENT IN FUNDS

Net

movement

At

At 1/4/24

in funds

31/3/25

£

£

£

Unrestricted funds

General fund

689,551

(103,758

)

585,793

TOTAL FUNDS

689,551

(103,758

)

585,793

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

986

(99,130

)

(5,614

)

(103,758

)

TOTAL FUNDS

986

(99,130

)

(5,614

)

(103,758

)

Comparatives for movement in funds

Net

movement

At

At 1/4/23

in funds

31/3/24

£

£

£

Unrestricted funds

General fund

681,412

8,139

689,551

TOTAL FUNDS

681,412

8,139

689,551

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

1,440

(64,129

)

70,828

8,139

TOTAL FUNDS

1,440

(64,129

)

70,828

8,139

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1/4/23

in funds

31/3/25

£

£

£

Unrestricted funds

General fund

681,412

(95,619

)

585,793

TOTAL FUNDS

681,412

(95,619

)

585,793

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

2,426

(163,259

)

65,214

(95,619

)

TOTAL FUNDS

2,426

(163,259

)

65,214

(95,619

)

9.	RELATED PARTY DISCLOSURES

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