Charity Registration No. 1006725
BOURNEMOUTH HEART CLUB
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
BOURNEMOUTH HEART CLUB
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr Nick Morgan (Chairman) Mr Peter Hodges (Vice-Chairman) Mr Colin Southgate (Treasurer) Mr John Slade Mr Graham Flexman MSc CiLCA DMS MBA Mrs Julia Baker Mr Keith Skinner Mrs Pauline Potentier Patron Mr Graeme Souness Charity number 1006725 Principal address Royal Bournemouth Hospital (F10) Castle Lane East Bournemouth Dorset BH7 7DW Independent examiner Hill Osborne Tower House Parkstone Road Poole Dorset BH15 2JH
BOURNEMOUTH HEART CLUB
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 5 |
| Statement of Trustees' responsibilities | 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 21 |
BOURNEMOUTH HEART CLUB
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their report and accounts of the charity for the year ended 31 March 2021.
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 constitution, the Charities Act 2011 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 objects of the Club as stated in its Constitution are the relief or prevention of sickness amongst persons with or at risk of heart disease, in particular those with coronary disease, and for the rehabilitation of those who have undergone cardiac intervention.
The Club was established to provide regular exercise sessions and education regarding healthy lifestyle habits amongst persons who have suffered from heart attacks or who have undergone heart surgery or heart procedures. The remit has also been extended to the rehabilitation of patients who have undergone angioplasty, or who are dealing with heart failure. A Prevention Scheme has been developed and launched to cover those at risk of heart issues.
The Heart Club's activities take place in a purpose-built building housing two gymnasiums, changing rooms, members’ lounges and office accommodation.
When the Club moved into the present building in September 1996 there were 405 members and 9 exercise sessions each week. Membership had steadily increased to a peak of 1500 but has declined due to the pandemic and there are now 686 members and less than 25 exercise sessions each week.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
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BOURNEMOUTH HEART CLUB
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Achievements and performance for 2020-21
Review of the year 2020-21:
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The Heart Club had to go into lockdown during the last week in March 2020, and for the complete financial year the main goal has been around the survival of the Bournemouth Heart Club.
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At the start of the lockdown the income from exercise classes was Zero. The creation of exercise videos led to some income and the generosity of many Members was appreciated, sending donations or paying a regular amount each month to cover their normal exercise class costs. However, as the year progressed there was a slowdown of Exercise fees, Donations and Legacies. Hence the overall trading year showed a higher-than-average loss.
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Whilst planning for the end of the first lockdown, the Management Team developed detailed return to operations plans, marked out both gyms with squares that ensured social distancing. The BHC building was made as Covid-19 secure as possible with a one-way system with constant intensive cleaning activities. Members who came to classes had to have their temperature taken and had to adhere to the one-way system in operation as well as wearing a mask until the session began.
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Classes at the Heart Club were possible during the various lockdowns, but the use of Zoom was constant throughout the year, both for exercise classes and meetings and this will continue.
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The Management team together with the Finance Committee worked very hard to control the BHC existing costs and exercised serious financial prudence. Certain overheads could not be ignored to ensure the safety of the Staff, Gym equipment and the actual BHC building.
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At the end of 2019 the Trustees unanimously agreed to change the way the Club invested their Assets. The previous route using Building Societies and Banks was becoming less rewarding as these organisations were reducing their interest rates to under 1%, or even ceasing to accept funds from Charities entirely. The decision taken by the Trustees was to enter the Wealth Management market via two significant Providers. This change of investment policy had an immediate effect with and good returns, and this continued which has helped to limit some of the current trading losses and maintain the overall asset value. There are a limited number of financial institutions that offer a safe haven for charities to invest.
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Due to the Covid-19 situation all Fundraising events have had to be stopped. The staff have kept in touch with the members to remind them of ways to help the Club to raise funds. Our inclusion in the Amazon Smile scheme and the local BCP Lottery have helped raise funds on a regular basis.
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Another major change to operations was the introduction of advanced booking of classes and pre-payment via Credit and Debit cards or bank transfer being required. This will continue in the future, making our operations ‘cashless’
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A considerable number of members have lapsed their membership during 2020-21, which means that if they do return then further assessment will be required to ensure safe exercise can take place.
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The Club has issued newsletters throughout the year to keep the members informed with feedback encouraged.
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• The Club has benefited from inclusion in HM Government’s Job Support Schemes, and we have supported the Club’s staff as much as we could possibly have done.
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Work has continued on the Development of our Prevention scheme, ‘Keep Well’, but obviously we have not physically been able to offer the system to the public.
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An ‘Open Gym’ service was designed and developed to start once the general lockdown was lifted.
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The BHC Website has been redesigned by our Management Team using our external IT support provider and will be launched in 2021-22.
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We have used external professional Video services to create a CD showing both standing and seated exercise routines which will be sold to the members.
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It was not possible to hold an Annual General Meeting in 2020 due to the effects and restrictions of the Pandemic, but it is intended to hold an AGM in 2021.
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BOURNEMOUTH HEART CLUB
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Financial review
At 31st March 2021 Building Society and Bank balances plus cash in hand totalled £1,030,312 (2020 - £951,056). After paying creditors the sum of £11,564 (2020 - £13,117), there remains £1,018,748 (2020 - £937,939) for the purposes prescribed in the Constitution.
The Trustees believe that Bournemouth Heart Club needs to build and maintain financial reserves to:
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Meet planned and unplanned expenditure in the short term, including maintenance and repairs, repair and replacement of exercise equipment
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Safeguard the medium and long term future of the Bournemouth Heart Club, by investing in new and improved exercise regimes.
Dealing with the first financial objective is straightforward as it represents a normal contingency for any organisation and funds are already in hand. The second financial objective requires significant planning as the Club’s lease with the Royal Bournemouth and Christchurch Hospitals NHS Foundation Trust has been extended for a further 25 years from 2021 to 2046. As a result, the Trustees have decided that there should be two levels of reserve:
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An undesignated general fund to meet the levels of expenditure set out above.
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A designated fund, the value of which remains unrestricted, which is in place to cover the potential costs of three areas, the first being the cyclical cost of replacing exercise equipment, the second is to cover any repairs to the structure of the Heart Club building during the period of the extension of the lease when it is anticipated such repairs are likely to be necessary. Included in this fund is the cost of the lease extension which will be written back to general reserves over the period of the lease, and the third represents the initial spend on Prevention. The levels of these reserves and policies behind them are reviewed annually by the Trustees ahead of the Club’s AGM.
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that processes and procedures are in place to mitigate exposure to the major risks.
Plans for the forthcoming year 2021-22
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Create processes and procedures to manage the BHC Infrastructure when the revised Lease conditions come into force from August 2021. In brief the Heart Club will be responsible for maintenance costs over and above the support fee received under the terms and conditions of the lease. All spending will be kept under review as we restart without impacting service and safety considerations.
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We will create a roadmap that the BHC need to follow during 2021-22 and this will include following the Government instructions when they are issued, as well as keeping the members’ and staff safety as the top priority. This will include how to reintroduce the circuit-based exercise classes including the use of the cardiovascular equipment as well as that of the smaller pieces of equipment which are currently in operation, and how to introduce a safe operational procedure for the Tea Bar to be available for members.
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We will be looking into how we can improve the retention of the current membership as well as looking into activities that will help to increase our membership, with the possibility of working with those who are now suffering with long covid symptoms in the community. This will stem from the results of a Pilot scheme that we are currently involved in with the Respiratory team at the University Hospital Dorset.
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• The Job Support Scheme will continue to be managed until the end of September 2021, when the scheme is due to cease nationally. Before this time, we will be investigating the restructure of the staffing personnel to ensure that the Club is staffed to the correct levels for the future operation of the Club.
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• As Covid-19 restrictions are relaxed we will look to restarting our Fundraising activities, as well as continuing to encourage donations.
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Membership management will be a priority throughout the year to encourage the retention of the current membership as well as involving exercises to source new members to add to this. This will also involve an investigation into obtaining an administration system to accommodate the Club’s needs and future operations, enabling us to provide a better service to all.
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BOURNEMOUTH HEART CLUB
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Plans for the forthcoming year 2021-22 (continued)
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Throughout the early part of 2021 we have been working with our IT support team to put together a new and improved website, which will be launched during the summer of 2021. This will accommodate the management of the use of Zoom classes, eventually supporting the booking of all BHC facilities on offer.
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• Due to the Covid 19 restrictions there has been no marketing of the scheme since March 2020. Active marketing is planned from September 2021.
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Since April 2021 the club has been working with the University Hospitals Dorset NHS Foundation Trust Occupational Health Department and Acute Therapy Team in a joint venture to provide rehabilitation to members of staff suffering from long-term symptoms following Covid infection. This condition has been widely reported in the press as Long Covid. The first of 8 pilot rehab courses started in early July and the outcome of these will be under review with the intention of providing further courses to the hospital staff.
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The Office for National Statistics estimate in 2021 that 962,000 people in the UK (1.5% of the population) are likely to be suffering from Long Covid effects and it is the intention following these pilot hospital courses to make a Long Covid rehab course available to GPs (hopefully via Dorset CCG), private organisations and individuals by self-referral.
Structure, governance and management
The Constitution of the Bournemouth Heart Club was registered with the Charity Commission in December 1991. The Constitution was revised and adopted by the Bournemouth Heart Club on 13th June 2002, and subsequently revised on 9th August 2010, 25th July 2013, 24th July 2014 and on 20th July 2017. The Club is an unincorporated Association.
The Trustees who served the charity during the year were:
Dr Vivek Kodoth MD, FRCP (UK) (President) (Resigned 25 February 2021) Mr Nick Morgan (Chairman) Mr Peter Hodges (Vice-Chairman) Mr Colin Southgate (Treasurer) Mr John Slade Mr Graham Flexman MSc CiLCA DMS MBA Mrs Julia Baker Mr Keith Skinner Mrs Pauline Potentier
All Trustees (except the President) are elected by the members of the Bournemouth Heart Club for a three-year term of office. The President is elected by the Trustees. Past President and Founder, Dr Adrian Rozkovec will serve the Trustees in a co-opted advisory role, for the same period. The policy and general management of the affairs of the Club are directed by a Trustees Committee comprising the Trustees. Ms Caroline Marshall is the Manager of the Heart Club and her duties include her attending meetings of the Trustees Committee.
As the building is owned by the NHS Trust, there is a close liaison through a separate Management Committee, which meets several times each year and comprises:
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The Trustees of the Heart Club
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A Non-executive Director of the NHS Trust
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An Executive Director of the NHS Trust.
No meetings were held during the year due to the Pandemic and an Non-Executive Director of the Trust not being appointed by the Trust
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BOURNEMOUTH HEART CLUB
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Independent Examiner
The Trustees have requested that Hill Osborne carry out an independent examination in accordance with the Charity's Constitution.
Signed on behalf of the Trustees Committee
..............................
Mr Nick Morgan Chairman Dated: .........................
.............................. Mr Colin Southgate Treasurer Dated:.........................
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BOURNEMOUTH HEART CLUB
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2021
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees 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 of the charity for that year.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
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BOURNEMOUTH HEART CLUB
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BOURNEMOUTH HEART CLUB
I report to the Trustees on my examination of the financial statements of Bournemouth Heart Club (the charity) for the year ended 31 March 2021.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of 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
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
R.I. Osborne, FCCA ACA Hill Osborne Ltd Chartered Accountants
Tower House Parkstone Road Poole Dorset BH15 2JH
Dated: .........................
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BOURNEMOUTH HEART CLUB
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted Unrestricted funds funds general designated 2021 2021 Notes £ £ Income from: Donations and legacies 3 51,032 - Charitable activities 4 178,093 - Activities for generating funds - sales of books, shirts, raffles etc., 5 9,156 - Investments 6 7,000 - Total income 245,281 - Expenditure on: Costs of generating funds 7 1,567 - Charitable activities 8 284,009 - Total resources expended 285,576 - Net gains/(losses) on investments 13 98,355 - Net incoming/(outgoing) resources before transfers 58,060 - Gross transfers between funds 20 (9,535) 9,535 Net movement in funds 48,525 9,535 Fund balances at 1 April 2020 500,795 1,103,318 Fund balances at 31 March 2021 549,320 1,112,853 |
Total 2021 £ 51,032 178,093 9,156 7,000 245,281 1,567 284,009 285,576 98,355 58,060 - 58,060 1,604,113 1,662,173 |
Total 2020 £ 41,098 207,876 23,617 8,302 280,893 2,970 328,641 331,611 (44,981) (95,699) - (95,699) 1,699,812 1,604,113 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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BOURNEMOUTH HEART CLUB
BALANCE SHEET
AS AT 31 MARCH 2021
| Notes Fixed assets Tangible assets 14 Current assets Stocks Debtors 15 Investments 16 Cash at bank and in hand 17 Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Income funds Unrestricted funds - designated Unrestricted funds-general Designated funds 20 General unrestricted funds |
2021 £ £ 620,913 1,991 20,521 972,025 58,287 1,052,824 (11,564) 1,041,260 1,662,173 1,112,853 1,112,853 (563,533) 549,320 1,662,173 |
2020 £ £ 640,024 2,062 24,088 913,819 37,237 977,206 (13,117) 964,089 1,604,113 1,103,318 1,103,318 (602,523) 500,795 1,604,113 |
2020 £ £ 640,024 2,062 24,088 913,819 37,237 977,206 (13,117) 964,089 1,604,113 1,103,318 1,103,318 (602,523) 500,795 1,604,113 |
|---|---|---|---|
| 1,604,113 | |||
| 1,103,318 500,795 |
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| 1,604,113 |
The accounts were approved by the members of the Committee on .........................
.............................. .............................. Mr Nick Morgan Mr Colin Southgate Chairman Treasurer Signed on behalf of the Committee
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BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011 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 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. The principal accounting policies adopted are set out below.
1.2 Going concern
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.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors 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.
1.4 Incoming resources
Income is received by way of membership subscription, exercise fees, donations, gifts, legacies and fundraising activities.
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.
Membership subscriptions are included in the accounts in full on the date of receipt.
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BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
1.5 Resources expended
The salaries included within Charitable Activities relate to exercise staff. Within the heading of Office and Centre Costs are included office and administration staff salaries. These staff members spend a proportion of their time in dealing with charitable activities of the Heart Club in relation to membership and exercise classes. However it is impracticable to accurately apportion these costs between specific Charitable Activities and Office Centre Costs and therefore the total costs are shown under the heading Office and Centre Costs.
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.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. These rates were as follows;
| Exercise and cardiac equipment | 4 years straight line |
|---|---|
| Fixtures and fittings | 4 years straight line |
| Office equipment | 4 years straight line |
| IT equipment | 3 years straight line |
| Tablets and mobile phones | 2 years straight line |
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 net income/(expenditure) for the year.
Heart Club Facilities
Bournemouth Heart Club does not own the completed building but has a lease for 25 years at a peppercorn rent from September 1996 to 2021. In 2010 negotiations were concluded to extend the lease for a further 25 years to 2046. As part of this agreement a capital transfer of £592,000 was made from the Club to the Royal Bournemouth and Christchurch Hospital NHS Trust as a payment in advance (index linked) to cover the cost of the extension from 2021 to 2046. The cost of the lease in Tangible Fixed Assets relates to the cost of the lease of the property for the benefit of the Club from 2021 to 2046. The cost of the lease therefore will be written off in the twenty-five year period from 2021 to 2046. Items of moveable equipment and furnishings are capitalised and shown as part of fixed assets of Bournemouth Heart Club.
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 Stocks
Stock comprises stamps, car parking fobs and locker tokens and has been valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
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BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
1.10 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.
Basic financial liabilities
Basic financial liabilities, including creditors 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.
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.
1.11 Other investments
Other investments comprise call deposits with original maturities of more than three months.
2 Critical accounting estimates and judgements
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.
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BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2021 | 2020 | |
| £ | £ | |
| Donations and gifts | 37,450 | 25,069 |
| Legacies receivable | 13,582 | 16,029 |
| 51,032 | 41,098 | |
| Donations and gifts | ||
| General donations | 31,155 | 13,140 |
| Gift aid | 6,200 | 7,314 |
| Car parking deposits released to Bournemouth Heart Club | (25) | 2,395 |
| Car parking fees (non-returnable) | 120 | 2,220 |
| 37,450 | 25,069 |
4 Charitable activities
| Membership subscriptions and exercise fees Membership subscriptions and exercise fees - Prevention Furlough Grants Furlough Grants - Prevention RBCH Trust - reimbursed |
2021 £ 37,340 816 120,660 4,356 14,921 178,093 |
2020 £ 189,350 3,076 - - 15,450 |
|---|---|---|
| 207,876 |
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BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
5 Activities for generating funds - sales of books, shirts, raffles etc.,
| Polo shirts Cycle ride 3 Peaks Challenge Raffles Marathon - Ceri Shephard Locker Tokens Talks 100 Club Half marathon - Jamie Pickett BH Coastal Lottery Collect Ebay Virgin Money Amazon Smile PayPal Giving Purple Patch Other items |
2021 £ - - - - - - - 2,352 - 2,152 - 2,787 344 645 837 39 9,156 |
2020 £ 651 20 24 5,418 2,110 422 294 4,800 577 1,737 929 1,889 139 675 - 3,932 |
|---|---|---|
| 23,617 |
6 Investments
| 7 | Other investment interest receivable Costs of generating funds Costs of generating donations and legacies Jurassic Walk Entries Marathon Entries Talks 100 Club Lottery licence |
2021 £ 7,000 2021 £ (253) - - 1,800 20 1,567 |
2020 £ 8,302 |
|---|---|---|---|
| 2020 £ 253 85 92 2,500 40 |
|||
| 2,970 |
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BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
8 Charitable activities
| Exercise staff costs Office staff costs Office and centre costs Prevention staff costs Cleaning staff costs Share of governance costs (see note 10) |
2021 £ 140,831 68,636 44,719 5,973 13,430 273,589 10,420 284,009 |
2020 £ 162,725 76,642 60,805 6,798 10,689 |
|---|---|---|
| 317,659 10,982 |
||
| 328,641 |
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BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
9 Office and centre costs
| Insurance First aid equipment Advertising - promotional video AGM costs Minor gym equipment Prevention equipment Advertising/ leaflets - Prevention Exercise equipment maintenance Air conditioning maintenance Website maintenance Members polo shirts Telephone Postage and stationery Bank charges Merchant rental charges EVO monthly charges Rates and water Repairs and maintenance New parking fobs Cleaning materials Depreciation - exercise and cardiac equipment Depreciation - office equipment and fixtures & fittings IT maintenance and support Payroll processing fees Office equipment Locker tokens Refreshments for staff on courses and meetings Staff gift vouchers G4S Staff training DBS checks for trustees Refreshments for members Staff uniforms Miscellaneous sundry costs |
2021 £ 5,545 - 4,002 - 166 - 413 (120) 499 134 12 203 1,197 223 230 298 4,332 - 75 220 9,595 10,043 6,142 370 698 - 92 - 72 (510) - 65 18 705 44,719 |
2020 £ 5,803 96 - 112 117 192 - 915 509 - 937 41 1,608 422 - - 4,264 8,932 33 329 9,595 10,029 8,601 123 708 (100) 205 851 895 2,909 50 1,411 829 389 60,805 |
|---|---|---|
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BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
10 Support costs
| Support costs Governance costs £ £ Independent examination - 2,740 Legal and professional - 3,233 Bookkeeping fees - 4,447 - 10,420 Analysed between Charitable activities - 10,420 |
2021 £ 2,740 3,233 4,447 10,420 10,420 |
2020 Basis of allocation £ 2,680 Governance 2,999 Governance 5,303 Governance 10,982 10,982 |
|---|---|---|
11 Trustees
None of the Trustees (or any persons connected with them) received any remuneration during the year, or were paid any expenses during the year.
12 Employees
The average monthly number of employees during the year was:
| The average monthly number of employees during the year was: | ||
|---|---|---|
| 2021 | 2020 | |
| Number | Number | |
| Full time equivalent | 10.45 | 10.70 |
| There were no employees whose annual remuneration was £60,000 or more. |
13 Net gains/(losses) on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2021 | 2020 | |
| £ | £ | |
| Revaluation of investments | 98,355 | (44,981) |
- 17 -
BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 14 Tangible fixed assets Cost At 1 April 2020 Additions At 31 March 2021 Depreciation and impairment At 1 April 2020 Depreciation charged in the year At 31 March 2021 Carrying amount At 31 March 2021 At 31 March 2020 15 Debtors Amounts falling due within one year: Gift aid receivable RBCH Trust Prepayments and accrued income |
Lease Exercise and cardiac equipment Fixtures and fittings Office equipment £ £ £ £ 597,778 48,894 43,801 3,884 - - - 527 597,778 48,894 43,801 4,411 - 29,705 21,775 2,853 - 9,595 9,004 1,039 - 39,300 30,779 3,892 597,778 9,594 13,022 519 597,778 19,189 22,026 1,031 2021 £ 6,201 2,825 11,495 20,521 |
Total £ 694,357 527 |
|---|---|---|
| 694,884 | ||
| 54,333 19,638 |
||
| 73,971 | ||
| 620,913 | ||
| 640,024 | ||
| 2020 £ 11,017 3,183 9,888 |
||
| 24,088 |
- 18 -
BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
16 Investments
| Investments | ||
|---|---|---|
| Close Brothers Treasury Skipton Building Society Shawbrook Bank Julian Hodge Bank Cambridge & Counties Bank United Trust Bank Nationwide Building Society Yorkshire Building Society Investec Wealth & Investment Portfolio Quilter Plc Portfolio |
2021 £ 85,000 84,000 75,000 - 81,546 80,710 30,670 5,724 285,542 243,833 972,025 |
2020 £ 85,000 84,639 75,000 78,507 80,164 79,123 30,651 5,716 212,942 182,077 |
| 913,819 |
The Julian Hodge Bank matured on 17 January 2021.
The United Trust Bank balance of £80,710 is held in a fixed bond with a maturity date of 27 September 2021.
The Close Brothers Treasury balance of £85,000 is held in a fixed bond with a maturity date of 24 August 2021.
The Skipton Building Society balance of £84,000 is held in a fixed bond with a maturity date of 28 December 2021.
17 Cash at bank and in hand
| HSBC Treasury account HSBC Savings account Cash in hand Creditors: amounts falling due within one year Parking deposits Other creditors Accruals |
2021 £ 22,084 36,001 202 58,287 2021 £ 5,075 170 6,319 11,564 |
2020 £ 6,987 30,047 203 |
|---|---|---|
| 37,237 | ||
| 2020 £ 5,540 45 7,532 |
||
| 13,117 |
18 Creditors: amounts falling due within one year
- 19 -
BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
19 Retirement benefit schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £2,808 (2020- £3,003) and is included in staff costs.
20 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the Trustees for specific purposes:
| Designated Property Repair and Replacement Fund Designated Equipment Replacement Fund Designated Parking Deposits Fund Lease Fund 2021-2046 (Prepaid 2010) Designated Prevention Fund |
Balance at 1 April 2019 £ 380,000 100,000 5,885 597,778 10,000 1,093,663 |
Transfers £ 10,000 - (345) - - 9,655 |
Balance at 1 April 2020 £ 390,000 100,000 5,540 597,778 10,000 1,103,318 |
Transfers 31 £ 10,000 - (465) - - 9,535 |
Balance at March 2021 £ 400,000 100,000 5,075 597,778 10,000 |
|---|---|---|---|---|---|
| 1,112,853 |
The Designated Property Repair and Replacement Fund is a designated, but unrestricted fund set aside by the Trustees in order to enable monies to be available to help to meet the possible financial burden at the end of the current building lease.
The Designated Equipment Replacement Fund is a designated, but unrestricted fund set aside by the Trustees as funds for the cyclical replacement of the exercise equipment.
The Designated Parking Deposits Fund is a designated, but unrestricted fund set aside by the Trustees as funds held on behalf of members for car park access passes refundable to members on cessation of membership. (This is held in a separate building society account)
The Lease Fund is a designated, but unrestricted fund set aside by the Trustees in order to recognise the amount of funds represented by the Lease of the Heart Club.
- 20 -
BOURNEMOUTH HEART CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 21 Analysis of net assets between funds Unrestricted funds Designated funds 2021 2021 £ £ Fund balances at 31 March 2021 are represented by: Tangible assets 23,135 597,778 Current assets/(liabilities) 526,185 515,075 549,320 1,112,853 |
Total Unrestricted funds Designated funds 2021 2020 2020 £ £ £ 620,913 42,246 597,778 1,041,260 458,549 505,540 1,662,173 500,795 1,103,318 |
Total 2020 £ 640,024 964,089 |
|---|---|---|
| 1,604,113 |
22 Related party transactions
There were no disclosable related party transactions during the year (2020 - none).
- 21 -