Charity registration number 1010563 (England and Wales Company registration number 02645699 JESMOND COMMUNITY LEISURE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 JESMOND COMMUNITY LEISURE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr K BUt1*￿r Mr MF Hunt Mr SG Leach Mr MD Milter Mr J Mills Mr S Illingworth (Appointed 27 October 2024) (Appointed 7 July 2024) (Appointed 26 January 2025) Ms J Shearer Mrs B Ihhitwcffth Secretary Mr SG Leach Charlty number 1010563 Company number 02645699 Prlnclpal addross Jesmond Pool St Georges Terrace JesmorKI Newcastle Upon Tyne Tyne And EnglarKI NE2 2DL Auditor Robson Laldler Accountsnts Limited Fernwcod House Femwood Road Jesmond Newcasue upon Tyne Tyne and Wear England NE2 1TJ JESMOND COMMUNITY LEISURE CONTENTS Page Trustees. report IrKlependent auditorf5 report Statement of financial ￿tiv[tieS 10 Balance Sheet 11 Stalement of cash flows 12 Notes to the financial statements 13-22 JESMOND COMMUNITY LEISURE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance wth the accounting policies set out in note 1 to the financial statements and comply with the charty's goveming document, the Companies Act 2006 and ' Accounting and Reporting by Charities.. Statement of Recommended Practi￿ applicable to chanties preparing their accounts in accordance with the Finartial Reporting Standard applicable in the UK and ReputAic ol Ireland {FRS 102)" (effective 1 January 2019). The charitable company changed its name to Jesmond Community Leisure on 23rd February 2011. The company continues lo be known under Ihe name Jesmond P￿[ and Gym The project supports and volunlanly complies with the Charter of Integrity of the Sport5 and Recreation Trusl5 Ass¢xiation $i￿e the charitable company qualifies as small under section 383. the strategic report required of medium and large companies under The Companies Act 2006 (strategic Report and Directors Report) Regulatbons 2013 is not required. Objectlves and actlvitles a. Pollcles, objectlves and stratogles for achlevlng those obJecllv•s In setting objectives and planning for aciivities. the Trustees and Members have given due consideration to general guidance published by Ihe Chanty Commission relatsrvJ to public benefit. The core obieclives, along with the chosen strategies. are summarised below and provide evidence of Public Benefit. The Trustees also produce an annual report thal gives more detail on these objectives and is provided at the AGM. The Trustees are satisfied that they have achieved Ihe objectives set and have made a significant improvement to Ihe lives of people and Ofganisalions supported by our operations. The overall objects of the company were refined dwThJ 2019, with the Mission Statement. Values and Objectives revised in October 2019 as follows Our rnission Promoting health and wellbeing in our ¢(xnmunity Ihrough the provision of swimming and olher leisure and fitness related 8Ctivities Our values Belief in the power of sport leisure related activities to tenefft all members of our community. regardless of their slale of health or disabilty. Belief in the abilty of local community reSoUr￿S to meet local needs. Our objectives 1. To meet the s¥vlrnming and lelsure related needs of all groups In the local and wlder communlty Be recognised as a centre of excellence for community leisure activities. Constantly review the programme, to ensure that the needs of all groups are being met.. Help customers identify which activities will best meet their indivK8ual needs: - Take into consideration customer feedback and community concerns.. Network with olher similar projects acr05S the country, learn from them arKI in retum assist them whenever we can. 2. To secure the long-temi future of the project by maintaining its financial viability Operate in a way that meels Charity commis￿on and Companies House regulatory requirements. including taking expert advice when required., Employ rigorous financial controls and management systems: Use regular budgetary controls. cash flow and pricing reviews. Have a Truslee working group for financial matters JESMOND COMMUNITY LEISURE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ObJ•cllves and act￿11168 (conllnued) 3. To ensure we retain local suppor( through a strong sense of community interdction Be open and accountable in operating the Poc4 on behalf of local people. through communication wth our community - Keep local people aware of the operabon and updated on the Pool's tyogress. and attend cAxnmunily events Provide a programme that reflects customer demar - Have a Trustee wthing group for communi¢atson matters 4. To maintain and develop the building, at lfrasl In line with lease requlrements Enhance 2nd developing the ￿lIdIng as funds allow - Have a Trustee W￿Ing group for building matters S. To provlde a worklng envlronment that values and develops all of its people to ensure business success. whilst being inGIu5ive and participative Recruit. train and retain motivaled, highly qualified. flexible and empowered staff Encourage full lime staff participation in the funning and success of the compary Operate the building and activities. following current industry and best practice guidelines.. Offer high quality training and supwrt to am operational volunteers. enabling them to progress in the leisure industry al Jesmond Pool & Gym or elsewhere.. - Have a Trustee working group for personnel matters. 6. To reduce our environmental impact Use and operate the building in a way vthich minimises our effect on the environment" - Maximise our energy efficiency. and idenlify and reduce our carbon footprint: - Encourage users to walk, cycle or use nearby Publ￿ transp(Yt lo reach the p)ol. b. A¢tlvltl•$ for achlevlng obJe¢tlv•s We provide swimming facilities, two gyms, dasses. exercise and other sports arKI activities capable of improving physical health. fitness and wellbeing We actively promote our service5 to local and wider communits'es encourage take-up from differenl min(xity groups. We actively target thé older population by providing additional facilrties to encourage partiapation and largel involvement as a means of encouraging older people to be aclive as a lrfe51yle choice c. Volunteers Volunteering provides berEfits to both mental and physiral heallh of the volunteer and brings a wide range of skills knowledge and experience lo Ihe Pool & Gym. During 2024 20 volunteers contribuled 400 hours of office and lifeguarding work. Trustees and member meetings cc￿1￿nUed with a mix of online and hve meetings. JESMOND COMMUNITY LEISURE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievemen1$ and performance Objective I: Meeting the Swimming and Leisure Needs of All Communlty Groups We continue to provide a diverse and Indusive program of activities lailored to meet the needs of all age groups. Our swimming timetable is structured to accommodale babEs through to older adults, offering both recreational and instructional sessions. Seasonal prtyrams maintain this indusivity. The fitness suites-basement and p(KJlSid￿ffer varied equipment and environments, supporting a wide user base wtth targeted classes for teenagers, older adults, and GP referrals. The upsiairs studio remains a vibrant, mults'_use space, hosting everything from baby massage to adult filness classes We are proud to serve both our resident5 and a wider audjence, maintaining postive influence and offering operational advice to similar organisalions across the UK. Objective 2: Securing Long-Term Financlal Vlablllty Financial he811h is closely monitored via regular FInar￿ Grixjp rneetings, wth detailed monthly P&L reporting. In 2024, attendan￿ gr0￿h resulted ￿ a 10% increase ￿ income froffi charitable activities We received a grant of £179.198 from Swmming Port Support Fund through Sport England. This is ft)r solar panels and a new pool cover. These were Installed in March 2025 FinancAal stability is strenglhened by dTversrfied bank deposits, all covered under the FSCS. a caulTrous approach to inveslment risk. Objective 3: Retaining Local Support Through Community Engagement Engagement remains strong thrw9h personal inleract￿n$. regular social media updates 13,000+ followers). and over 22,000 interactions via Goc*Jle Bugness. Our neW￿etter now reaches more than 500 5ubscribefS. We maintain a visible presents in local media, including Jesmond Community newsletters, and nurtufe community ties through volunteering Ouf scheme with Iwal GPS, supporting yC￿￿j peoF4e mental health challenges, has expanded and is positively received. Objectlve 4: Malfttalnlng and Developlng Our Building We significantly exceed our lease obligations. continuing long-lemi investments in the facility In 2024, £170.635 was spent on capital improvemenls An addrtionai £179,198 was transferred to the Designated Fund, raising it to £608.563. This ensures readiness for future development while safeguarding reserves. Oblectlve 5: Valuing and Developing Our People Slaff development remains a comerstone. Retention is strong, with many haviTrJ over 20 years of service Staff are involved in strategic planning operatK)nal Su￿grOUps. Key achievements in 2024 indL*Je'. Inslallalion of a learning management system New deep water exercise classes initiated Internal quality assurance qualification gained by a staff member 20 staff requalified as pcol lifeguards 15 swimming teachers were upskilled to level 2 2 members of staff completed th&r parent and toddler swirnmiro teacher certificate Objeclive 6: Adherlng to Besl Practlce In Operations All activrties follow current industry standafds and are led by qualified staff. Safeguarding and trairbing rernain pr￿rItIeS. wbth regular revEws and DBS checks for relevant roles. Our RLSS Approved Training Centre status is maintained through annual external reviews. Staff continue to engage in CPD and participate in national leisure forums. Our operat￿nS Manager chairs a network of over 30 single-srte trusls, keeping us aligned wilh industry developments_ Oblective 7: Reducing Environmenlal Impact We Installed 165 solar panels Ihis will potentially save 35% of our electricty costs. We have an active recycling plastic bottles and cafdboard scheme We fitted new LED lights into ow gyms to red￿e energy use. JESMOND COMMUNITY LEISURE TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review Jesmond CThnmunity Leisure remains finartially robust. V•ith income largdy derived from trading activities. Income from charitable activities.. £978,035 (2023: £887,864) Expenditure.. £873,983 (2023, £774,444) Surplus on charitable ath'vities" £1 t)4,052 (2023: £113,420) Net surplus: £151.746 {2023'. £139,286) Cashflow from operaling activities.. £422.363 (2023.. £215,432) Despite rigro costs, particularly in energy arwJ salaries. we an1￿.pate a smaller txrt P05itsve surplus in 2025, Golng concern After making appropriate enquirtes, Ihe Iruslees have a reasonable expectation that the charitable company has adequate resources lo continue in operatjonal existence for the foreseeable future. For this reason. they continue to adopl the going concern basis in preparing the financial statements. Furthef details regarding the adoption of the going concern basis can be found in the Accounting Pclicies. Reserves pollcy The reserves policy remains unchanged. targeting a minimum of £250.000 in free reserves. This covers risk scenarios such as temporary closure or emergency repairs, with dosure costs estimated bet￿een £110.000- £130.000. Free reserve5 at year-end. £375,400 {2023'. £284,871) Designaled Fund fof capital investment.. £608,563 (2023.. £6(K>,0001 The Trustees confim the chaTtty rema￿$ a gcrfng concern. Risk assessment The Trustees have assessed the major risks to %*thich the charitable cfflipany is exposed. in particular those related to operations and finances of the charitable company, and are salisfied Ihat syslems and procedures are In place lo mitigate our exposure to the major risks. Plans for future periods Al Ihe lime of preparing Ihese accounts Jesmond Pool & Gym is fully operatM)nal and seeing high levels of use of all facilities. The trustees have assessed the outcome of the last strategic review and are in the process of agreeing the focus for the medium-term future of the Pool & Gym. Structure, govemance and managemenl The chaflty is conlrolled by its governiro document, a deed of trust. and cor)stitute5 a limited company, limited by guarantee. as defined by the Companies Act 2006. JESMOND COMMUNITY LEISURE TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, who are also direclors for the purpose ol company kaw, and wf¥) served during the year and up to the date of signature of finanaal statements were". Mr K Butcher Ms D Easton Ms A Hames Mr MF Hunt Mr SG Leach Mr MD Miller Mr J Welford Mr J Mills Mr S Illingworth Ms J Shearer Mrs B Whimorth (Resoned 31 August 2024) (Resigned 30 March 20251 (Resfjned 7 July 2024) (Apwnted 27 October 2024) (Appointed 7 Juty 2024) (Appoinled 26 January 2025) Recrultment and appolntment of new trustees The articles of association define the company structure, which indudes boih members of the company and direGlor5 (both of whom are appointed by the Board) There are cU￿entlY no bJdies who are aLrtomatically entitled lo nominate directors to the Board. and the Board currentty has rK) plans for changing this. New tru5tee5 are identified from amongst Ihe CLtslomers and supporters of Ihe project, induding those attending the annual meeting. ￿en particular expertise is required (such as the Firkqnce Director). an open recfuitment process is followed All trustees are company d1￿clOr$. Charity constitution Jesmond Community Leisure is a charitable company limrted by guarantee set up by a MemorarKlum of ASsocial￿n on 13 September 1991 and is a re9iStered charity number 1010563. The object for which the company is establish&# are the provision of sv￿MM￿@ tacilities for recrealion and other leisure lime aclivities for the inhabrtants of the local and viider community in the interests of their social welfare wrthin the meaning af Ihe Recreational Charities Act 1958 and as therein limiled and any other ancillary leisure time facililies. and the advancement of education. culture and the arts for the public benefil, including the provision of libraries. cultural aclivilies, learning 8r)d information centres and other related services. Organisalional structure The Board ol Directors is responsible for makiThJ all strateg£ deCis￿n$, and nom)alty meets monthly. eilher in person. or more recently via videoconfeienciffj. Unless part￿ularlY sensitive matters are under discusson. Boar4J meetings are open to the p￿)lIc. During 2023 the Board cmtinued to operate a number of specffic working groups. comprising a mixture of trustees, members, and staff to provide ￿viCe on Finance. Builth"rKJ. Pers(￿ne1. and Communications These groups report to the Board Meetings. Day to day management of the activib'es of the pwl and ancillary leisure facilitss are delegated to Ihe Opefaiions Manager. who is not a director. Inducllon and training of new trustees A Trustees, Handbook has been drawn up, to assist in advising new trustees and members of their responsibilities. Slatement of trustees. responslbilltles The trustees, who are also the directors of Jesmond Communty L￿SUre for the purpose of company law, are responsible for preparing Ihe Trustees. RerKJrt and the financol statements in accordance with applicable law and Unrted Kingdom Accounting Standards (United KIng￿ffl Generally Accepted Accounting Practsce), Auditor In accordance with the company's articles, a resolUt￿n prop)sing that Robson Lahller Accountants Limited be reappointed as auditor of the company will be al a General MeetsrYJ. JESMOND COMMUNITY LEISURE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Disclosure of information to auditor Each of the Iruslees has confirmed that tPEre is no information of which they are aware which is relevant to the audrt: but of which the audrtor is unaware. They have further confirmed that they have taken appropriate steps to idenlify such relevant information and to establish that the auditor is aware of such information The trustees, report was approved e Board of Trustees. Mr MD Miller Trustee Date.. JESMOND COMMUNITY LEISURE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JESMOND COMMUNITY LEISURE Opinion We have audited the fina￿la1 slatemenls of Jesmmd Community Leisure (the 'chartty') for the year ended 31 December 2024 which comprise the statement of financial activities, Ihe balance sheet. the statement of cash flows and notes to the finanoal statemen15, induding significant accounting po[￿les. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. induding Financial Reporting Standard 102 The Financial Reporting Standa￿1 appkabl8 ￿ the UK and RepublK of Ireland will always delect a material misslatemenl when il exists Misstalemenls can arise from fraud or error and are considered material if. individually ￿ in Ihe aggregate. they could reasonably be experted to influence the economic decisions of users taken on the basis of these finanual statements. The extent to which our Pro￿dureS are capable of detecbng irregularitie5. including fraud, is delailed below. The risk of material misstatement due to error or Iraud has been assessed in conjunction with how intemal controls may mitigate any such risk. These conlrols are reviewed as part of the audit by performing systems walklhroughs to ensure they are operating effectively. Analytscal review and substantive testing is also performed on all material balances and therefore any inslances of n￿-complIar￿e should be identrfied or considered as insignificant. In idenlifying and assessing risks of material misstatement in respect of irregularrties. including fraud. the audil engagement team, obtained an understarijing of the nature of the industry arKJ sector. induding the legal and regulatory framework, in which the tharity operates how the charity com￿leS wlh that legal and regulatory framework inquired with management and I￿se charged with govemance ab(xJt their own identificalion and assessment of the risks of Irregularit￿5. including any know actual. sUspe￿ed or alleged inslances of Iraud discussed wrth management and those charged wrth govemance any non-compliance with laws and regulations and how fraud might occur including assessments of how arbd vthere the financial statements may be susceptible to fraud. The risk of managemenl override of controls was also considered an area of potential misslatement due to fraud Audit procedures performed included testing of manual purnal enlr*s and other adjustments and evaluating the business rationale in relat￿n to significant. unusLtal transactions and transactions entered into outside the normal course of business JESMOND COMMUNITY LEISURE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF JESMOND COMMUNITY LEISURE There are inherent limitations in the 8udit procedures described above and the primary responsibility for the prevention and detection of irregularities indLhJing fraud rests wlh management_ As wth any audit, there remained a risk of non-detectson of Irregularilies. as these may involve collus￿n. forgery, intentional omisgons, misrepresentations or the override of internal controls. A further description of our respjnsibilrties is available on the Finanoal Reporting Counal:s website at.. https'.11 www.frc.org.uklaudilorsresponsibilitses. This description forms part of rxK auditor's ieport. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapier 3 of Part 16 of the Companie5 Act 2006. Our audit work ha5 been undertaken so that we might slale lo the charitable company's members Ihose matters we are require)n Tyne Tyne and Wear England NE2 1TJ JESMOND COMMUNITY LEISURE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlcted funds 2024 Restrlcted funds 2024 Totsl Unrestricted funds 2023 2024 Noles Income from.. Donations and legacies Charitable aclivilies Other trading activities Investments 616 978,035 28,264 36,644 179.198 179,814 978,035 28.264 36.644 1,913 887,864 30,897 13.127 Totsl income 1,043.559 179.198 1.222,757 933,801 Expenditure on: Raising funds Swming and leisure aclivTties 17,830 873,983 17.830 873,983 20.071 774,444 Total expenditure 891,813 891,813 794,515 Net Income 151,746 179,198 330,944 139,286 Transfers behween funds 179,198 (179.198) Net movement In funds 330,944 330,944 139,286 ReconclllatSon of funds: Fund balan(%s at l January 2024 2.￿7.584 2.007,584 1,868.298 Fund balances at 310ecember 2024 2.338,528 2,338.528 2.007.584 The statement of financial activities includes all gains and losses reco9nised in the year. All income and expenditure derive from continuing aclivilies 10- JESMOND COMMUNITY LEISURE BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets 11 1.354.565 1,122.713 Curront assets Stocks Debtors Cash at bank and in hand 3.322 25,245 1.008,281 2.468 18.102 899,107 12 1.036.848 919.677 Credllors: amounts falllng due within one year 13 (52,885 {34,8C￿} Nel current assets 983.963 884,871 Total assets less current liabilities 2,338,528 2.007.584 Income funds Unrestrided funds - Capital funds General unrestricted funds eneral 15 608.563 1,729.965 600.000 1,407,584 2,338,528 2,007.584 2,338,528 2,007,584 The financial aternents pproved by the Trustees on .. Mr MD Miller Trustee Company Registration No. 02645699 11 JESMOND COMMUNITY LEISURE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash fl0¥*s from operating activltles Cash generated from operations 20 422.363 215,432 Investlng actlvltles Purchase of tangible fixed assets Pro￿edS from disFrf)sal of langitle fixed assets Investment income received (349.833) (137,482) 1.185 13.127 36.644 Nel cash used in Investing activilleg (313,189) (123.170) Net cash generated from financing activities Nel Increase in cash and cash equlvalents 109,174 92,282 Cash and cash equivalents al beginnir@ of yeaf 899.107 806,845 Cash and cash equlvalents at end of yoar 1,008,281 899,107 12- JESMOND COMMUNITY LEISURE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounllng pollcles Charlty Informatlon Jesmond Community Leisure is a prNate company limited by guarantee. ￿￿)rpOrated in England and Wales. (company number.. 02645699) and also a reg1Stered charity (charity number_ 10105631 The address of ils registered office ts disclosed in Ihe Reference and Administrabon Details section of these financial statements. 1.1 Accounting convention The financial slalements have been Fxepared in accordance with the charity's governing document. the Companies Act 2008. FRS 102 'The Finanoal Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the ChaTlties SORP "Accounting arKI Rep)rbng by Chanties. siatement of Recommended Praclice applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and ReputAic of Ireland (FRS 102}" (effedive 1 January 2019) The charity is 3 Public Benefit Entity as defined by FRS 102. The financial slatemenls are prepared in sterfing. which is the functional currero of the charity. Monetary amounts in Ihese financial statements are rounded to the nearest £_ Jesmond Community Leisure meets the definition of a pUt￿lC benefit entity entry under FRS 102 Assets and liabilities are initially recognised at histcyical cost or 1ransacllr￿ value unless othewse stated in the relevant accounting policy note{s). 1.2 Golng concern The financial 5talemenls have been prepared on a goin9 concem basi5 on the grounds that Current and future sources of funding or SUPF)Ort will be more than adequate for the charity's needs The TTUStees have considered a period 0112 months from the balance sheet date consider no further disclosures relating to Ihe charity's at41ily to continue as a concern need to be made 1.3 Charllable funds Unrestricted funds are available lor use at the discreb'on of the trustees in furtherance of their charitable objectives. Restr￿ed fijnds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial slatemenls. Endowment funds are subj'ect to spectfic conditions by dwors Ihat the ca￿tal mu51 be maintained by Ihe charily 13- JESMOND COMMUNITY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounllng pollcles (Continued) 1.4 Income All income is recc*Jnised in the Statement of Financial Activit￿5 once the charity has entitlement lo the funds, il is probable that the income will be received and the amount can be measured reliably Fees represent income receivable from the provision of swimming. sports and leisure activities to individuals and organisati￿S on a pay for use basis. Subscriptions arKI lesson fees received in advance of the period to which they relate are defeffed to the relevant period. Voluntary income 15 re￿Ved as grants and donations. All monetary donations and grants are included in full in the Statement of Financial Aclivitses when receivable. wowded there is no donar imposed restriction as to the ts.ming of Ihe related expenditure. in Ythich case reCcgniti￿ is deferred unts'l the p￿-C0ndrt10n has been met, Grants receivable for ffixed assets are credtled to restncted funds until the asset is purchased, at which point they are transferred to unrestricted funds unkss the grant prO%￿der has induded additi￿al restrictions. Grfls in kind for use by the charity are valued at the estimated cost which would have been incurred by ihe chaflty. Investrnent income comprises bank and building xKiety interest and is recthJnised %then receivable. 1.5 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or Constructive obligalion committing the charity to that expendilure. rt is probable that a transfer of economic benefits will be requifed in settlement and the amount of the obligation can be measured reliably Expenditure is accounted for on an accrua15 basis and has been classified under he&Jings that aggregate all cost related lo the category. Kffiere costs cannot be directly attributed to Part￿ular headings they have been allocated to activities on a basis consistent wilh the use of resources. Support costs are th)se costs that cannot be direclly allocated to a charita￿e acbvity They include all ￿ntral and management costs and administration overheads. Support costs are apportioned behveen the chantable aclivilies on a basis consislenl with the use of resources Governance costs are those costs aSs￿ated with the constitutional and statutory requirements of the charitable company. The charitable company is not registered for VAT and accordingly the costs are shown indusive of VAT where applicable_ 1.6 Allocatlon and apportlonmènt of ¢osts Costs allocated to activities comprise those costs incurred which directly relate to thal activity. together with an appropriale proportion of SUFPOrt costs. 14- JESMOND COMMUNITY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Aceountlng pollcles (Contlnued) 1.7 Tangible fixed assets Tangible fixed assets are inrtially measured at cost and subsequently measured at cost or valuation, net of depreaation and any impairment losses. Depreciation is recognised so as to write off the cosi or ValUat￿n of assets less their residual values over theii useful lives on the following bases; Leasehold ￿lIdIng improvements Pool and sports equpment Fixtures and fittings 10 to 80 years 3 to 5 years 5 years The gain or loss arising on the disposal of an asset is deterrnined as the difference between the sale Proceeds and the carrying value of the asset and is recognised in Ihe statement of financial athvthes. The charitable company a¢SJpts a policy to capitalise all relevant expenditure on assets costing in excess of £350. 1.8 Impalmient of flxed assets Al each reporting end date. the charity rewews the carrying amounts of its tangible assets to determine whether there is any indicatK)n thai those assets have suffered an impairmenl loss. If any such indicalion exists, Ihe fecovefable amount of the asset is esb'mated in order to detem)ine the extent of the impairment loss (if any) 1.9 Stocks Slocks are valued at the lower of cost and net rea￿sab￿ value. after making due allowance for obsolele and slow moving item5. 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand: deFQSits held at call with banks, other short-temi liquid investments wilh original maturities of three months or less. aTrJ bank overdrafts Bank overdrafts are shown within borrowings in current Iiabililies. 1.11 Taxation As a charity. the company is exempl from tax on income and gains to the extent that Ihese are applied to its charitable o*ects. No tax charges have aiisen in the charily. 1.12 Retirement benefits The charitable ccmnpany operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activtties In the period to which they relate. 1.13 Debtors due within one year Trade and other debtors are recognised al the settlement amount after any trade discounts offered. Prepayments are valued at the amount prepaid net of any Irade discounts due. 1.14 Creditors and provisions Creditors and provisions are recognis&J in full where the chantal￿e company has a present obligation arising from a past event that will Probably result in Ihe transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated re1k7t￿y. Creditors and Provisions are noimally recognised at their settlement amount after allowing for any trade discounts due. 15- JESMOND COMMUNITY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacie5 Unrestrlctod Restrlctèd lunds funds 2024 2024 Total Unrestrlcted Restrlcled funds funds 2023 2023 Total 2024 2023 Donations and gifts 616 179,188 179.814 1,913 1,913 Donations and gifts Swimming Pod Support fund Other 179.198 179.198 616 616 1,913 1,913 616 179.198 179.814 1.913 1,913 Income from charitable acllvities Unrestrlcted funds 2024 Unrestrl¢t funds 2023 Fees Swimming and leisure activities 701,973 656.759 Subscriptions Swimming and leisure aclivilies 276.062 231.105 978,035 887.864 Income from other Irading actfvities Unrestricted Unrestricted funds funds 2024 2023 Trading activities 28.264 30,897 16. JESMOND COMMUNITY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Raising funds Unr¢$trlcted Unrestricled funds funds general general 2024 2023 Other trading activities Swimming equipment Vending machine wrchases 10.934 6.896 12.840 7,231 17.830 20.071 Expendllure on charltable actlvllles Swimming Swimming and lelsure and leisure activities actlvltles 2024 2023 Dlrect costs Staff costs Depfeciation and impairment Chemicals arKI cleaning Rent. rates and insurance Light and heat Activities and services Maintenance and equpment Licences and equipment hire Other running costs Staff expenses Profit and Ios5 on disposal of fixed assets 449,578 117.981 7.950 23,828 78.624 57.729 26,242 25.779 4.898 5.850 420.935 92.105 13,074 18,520 54,386 56,461 24,255 12,942 1.931 7.133 <1.185) 798.457 700,557 Share of support and govemance costs Isee note 71 Support Goveman 73,726 1,800 73,887 873,983 774,444 Analysis by fund Unrestricted funds 873,983 774,444 17- JESMOND COMMUNITY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to actlvities 2024 2023 Staff costs Bank and card charges Telephone Postage and stationery Advertising Bookkeeping Auditors femuneratton Governan￿ costs 49.000 9.439 2.806 1,964 2.207 2.640 5.670 1.800 46,000 11,033 2.562 2,557 3,935 2,400 5.400 75,526 73,887 Analysed between: Swimming and letsure activities 75,526 73.887 2024 2023 Governance costs comprise: Legal and professional 1,800 1,800 Trustees None of the trustees (or any persons connected V•ith them) received any remuneration or benefits from the Gharity dunng the year. Ernployees The average monlhly number of employees during the year was: 2024 Number 2023 Number General staff Management and adminislration 50 48 Total 52 18- JESMOND COMMUNITY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employees (Continued Employment costs 2024 2023 Wages arKI salaries Social security Costs Other pension costs 457,761 24,765 16,050 430.224 22.053 14.658 498,576 466.935 The avefage number of persons employed by the charitable CCAmpany is noted above vthilst the full time equivalents employed during the year was 6 <2023. 8). The remuneration paid to key management personnel of the charitable company in the year amounted to £56.573 {2023'. £￿,185). There were no employees whose annual remuneration was more than £60,000. 10 Taxallon The charity is exempt from taxatbJn on its activities because all rts income is applied for charitable purposes. 11 Tangible flxed assets Leasehold building nprovements Pool and FixtUTes and sports fittings equipment T¢)tal Cost Al 1 January 2024 Additions 1.894.273 304.173 221,344 38,295 39.568 2.155,185 7.365 349,833 Al 31 December 2024 2,198.446 259,639 46.933 2.505,018 Depre¢latlon and Impalm)ent At 1 January 2024 Deprecialion charged in the year 935,055 61,083 73,990 51,1* 23.427 5,702 1,032,472 117,981 At 31 December 2Q24 9%.138 125.186 29.129 1,150,453 Carrylng amounl At 31 Decembef 2024 1,202.308 134,453 17.804 1,354.565 At 31 December 2023 959.218 147.354 16,141 1,122.713 19- JESMOND COMMUNITY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Debtors 2024 2023 Amounts falllng due within one year: Trade debtors Other debtors Prepayments and accrued ir¢ome 9,652 28 15.565 7,737 28 10,337 25.245 18,102 13 Creditors: amounts falllng due wlthln one year 2024 2023 Other taxation and social security Trade creditors Other credrtors Accruals and deferred income 5.275 13.476 19.571 14.563 5,071 12,082 11,064 6.589 52,885 34,806 14 Restricted funds The restricted lunds of the charity comprise the unexpended balances of dC￿ltiOnS and grants held on trust subject lo Specif￿ Condit￿n$ by (Jonors as to hr)w they may be used. At 1 January 2024 Incorning resources Transfer5 At31 December 2024 Sport England 179.198 (179.198) Sport England This represents capital funthrvJ received to install solar panels to the building. -20- JESMOND COMMUNITY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 1 S Unrestricled funds The income funds of the charity include the following designated furKls which have been set aside out of unrestricted funds by the trustees for specific purp05e5: At 1 January 2024 Incoming resources Resources expended Transfers At31 December 2024 Capilal fund sv￿mMIng Pool Support fund General fLtnds 6W.000 (170.635) 429.365 179,198 1,729,965 179,198 1,407.584 1.043.559 (721,178) 2,007.584 1.043.559 (891.813} 179,198 2.338.528 Prevlous year: At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 C8Pltal fund General funds 500,CXJO 1,368.298 (137.482} (657,033) 237,482 1237,482) 600,000 1.407,584 933.801 1,868.298 933,801 (794.515) 2.007,584 Capital fund This fund represents monies sel aside for future capital imyovements. Swirnming pool support fund This fund represents the capital value of the solar parEls that were purchased Ihrough the Sport England grant. 16 Operating lease commitments At the reporting end date the charity had outstanding commitrnents for futLrt minimum lease paymenis under non-cancellable operating leases. which fall due as follows.. 2024 2023 thin one year Be￿een five years In over fwe years 1,000 4,000 66,250 85,250 70.250 71,250 21