Reylstered number.. 03072216 CharKy number.. 1047742 IEng12nd and W21esl ACTIVE NATION UK LTD {A Company LimitEd by Guarantse) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
ACTWE NATION UK LTD IA Company Litnited by Guararteel CONTEMTS Page Reference and Admlnlstratlve Detalls of the Charty. Its Trustees and Advlsers Tru51ees' Raport Tru$tee$' Responsilylities Stalernent Independent Auditoffs Report on the Financial Statements 7-10 ConsolSdat•<l Stat•m•nt of Financial A¢tlwlti•$ Con&olidat8d Balanc• Sho8t 12_13 Charity Balance Sheet 14-15 Consolldated Statement of Cash Flows 16 Not•s to th• Flnanelal siat•m•nts 17-43
ACTIVE NATION UK LTD IA Corrbpany Umtted by Guarantee) REFERENCE AND ADMINISTRAnVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Truste•$ DJ Hughes. Chairman S Lambert D Cbyton Company registered number 030T2216 Charlty reglstered number 1047742 IEnoland and Wales) Registered office Unil 1B Hatton Ro¢k Busiress Centre H8tton Rock stratfor¢pUpoA¥Oft Wamckshire CV37 ONQ Company secretary S Martin Indepqndent auditor Shaw Gibbs (Art) Limrted Stalutory Auditoy Wey Court West Union FtDad Famham Surrey GU9 7PT Bankers Natal Weslminster Bank Pk Cambertey Br8h 45 Park Strt Carnberfey Suiiey GU15 3PA SolieAtors Stone KiThJ LLP 13 Queens Square 8alh BA1 2HJ HerrirrfJlon Carmithael 27 Broad Streel w0ghaM RG40 IAU Senior Management Team S Martin KLar S Clwhal S Tasker P Calas R Klithie Page 1
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 R•port of the Trusi80s for tho Year ended 31 IAarch 2023 The Trustee5, who abo serwe as dire¢tors of the charity under the Conwanies Aca. rxesent their annual rerKrt encompasyng the directors, report and stralegic report. ak)ng with the audited financal statements of Active Nation UK Ltd (the company) for the fisca1 year Ending 31 March 2023. The Trustees affirrn Ihal the companys Annual Ryrt and finanlial staterTrents cotn Y vath cuiient statutory reouirements. the vemIng dctument aid the provisi($ of tl FRS 102 Ststemenl ol Recommended Practice ISORPI 'Accounling and Reporting by Clwribv5,- effKtive l January 2019_ Structuro. Govemance. and Manag8rnont Governance and costitUtIon Active Nation UK Lld, registered 85 a charitable CoMY limrfed by guarantee Iccrfnpany registrdtion number 30722161, was established 23 June 1995, with a chariiaLle regisrdtion number 1047742. The cixnpanrfs wtnary d)jective5 are to provide or a5SlSt in Ihe provision of ¢reab"0nal facilities a1 other kisure acbvitS for Ihe A strategr review of govemance documents led to the adoption of new Arbcles of Asso¢Nqton on 24 July 3)13. intrfyyuryng Ihree additional ObJ.tiVes to align with the evolving ngtUTe of the org£nisation's work. The Charitys mission, "Inspir8 p80e to irnprov8 their he81th and Wel1ng. is realis8d through a Vaty of sport. exerci58. and well-being prOgra[nrs. over5evn by 803rd of Twustee& The ktsnaging Diredor. delBg3led by the Board. IrpentS the Charity'5 strategy. providing )llth finanoal r8PK)rts and OP8Tational upda18s. Central Support T8am. o)nSiSting of a Finance Dir8Ctor. Commercial DirÈciDr. OperaOnS Director. and KlarkÈtirg Diredor. s)rK)rted the Managin9 Di0r during 2022-23, offering assistantE lo Icc81 teams_ Moreover, extefflal consultsnls prowde 5pecialised athce "n areas such 85 Bu%ness. Heath 8rKJ Safety, Human Resources, IT, and Cost Control. The Central Support Teatn 12gularf> reviews and manages the prinlypa ri5k5 and uncertainties facing the Charity. ensuting the establishment ol systems and procedwes to mdKJate these risls Business Managers and key Central Support staff hold rnOnth meetiws to dIu5$ ctraCtPerfornlg. reSS key is. aml prov ¢tynwelEnsrve repoTts for the Board. Racrultment and Appolntment of The TBcruittnent and apwintrnent of new Trustees adhere to the A¥bde5 cf AsS(KbOD anLI the Chanty CornmissioD'5 guidance. This involves as$e>sing exi$'ng Trustees, Skill sets. hlentifyiro required skill¥experen¢e. rruitIng through l0¢4 and national media, reening expre55ion5 of inlere5t, frjrtnal inter¥iew5. and prOding otien1a1 for new TrusteES on their le931 obligalions and organisatrnal responsibilit. Slral•gi¢ Positioning. Obj8¢tiv•s. and R•vi•w of A¢tivil*s andA¢hi•v•m•nts Throughout the fiscal year. Active Nation CA)ntint work that started in thè prewous year to fryws on rerositioning itself from a sport and exeicise<entric cotnpany to a health and wdl-bein9 charity. ActTre Nation conMued lo shift rt5 emphasis from 'seclorf to 'eco-5Ftern. markef'.o'cornTnunty,' thess and kiFJJre' to'health awvj Well55.. Recognising the absence of a focus on go(Kl health through Phlea1 activrty duri a pÈriod cl widespread ill-h2alth Aclive Nation aims to be rnore than a faclityentric organisalKXI. While gyms studKJs. and leisure centres remain iniegral, the organisation is extending well.being solutions onlineto pt to (Ing exeruse pattems arKI consum8r behaVUr. The Charity acknowle$ limr(ed imp&t ol tradth.onal exereise facilths on overall paapat rates aThJ aims lo &ldress deep he£lth inBqualilie5 in society Aclive NatwJn 15 Corntnitted to aggiegabng effort5 the Page 2
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el phy5ic31 activity and health eco-systeffl io devate the value of exercise In o)mtrvJThty ConsCSness. The new mission, 'To inspire the nK)n to irnprove their IEalth arvj well-being,- align5 Wtth the v151 of becorning the number Dne health and wdl-belThJ charity in the UK by the end ol the decaje. The start ol It eevelopment works and 1>year leisure management contr8Ct wth Filton Twi Counol derth)nslr81es AclNe Nelmjn's Cornmrfm to growth. p8rtnwthip. end continued servitr expansion. Despite econom challenges from o)st of living arml the energy tiisis thal has had a SnIfICant irnpacl across the enbre sedor. the organisatvjn remains resilierrt. offering a hwJh-qua&ty. ¥alue-dnven heamh & we l-bng prOpoS"0n that transTrnds traditional gym sellifigs. The Charity recognises the potenb'al for dHJital engagement and Ihe [ed to connect th indi¥iduals working and exefcising from home and continues on this pathway with online proF¥)Sitic¥) that reth audnces are Unale lo visit local leisure facilities. Public Benefit Sufflfflary In pursuit of its charitable purpose to, ActiiE Nab'on athely contribLrtes to reduLang Ih? Incwjen of major chionic diseases. The Charity ccdlaborates Mth knal autfx)rib"es 10 enhance ccmmunity hÈalth and Wl-bn9 by promoling rÈcxe8tional opporhjnities, encouraging activity participation. ar¢ iMplenn9 inmvative programs. Engag ng disadvantaged communty groups. lostering key Partnerships with Public Heath departrnents. schoo&, arkl dubs. and incwrating digital tethnol(w into ils campaigning stralegy are integra lo the bharivs work. Business Review & Principal Activitie5 Active Nation rernains 4 relile parfner lor k>cal authoribe5 in ming sports an¢J leisure f8cilitES under contract. wth 8 focus on Positively irnpactitYJ comrnunity physcal activty levS. The fiscal yeai 2t122-23 saw Active NatiDn working wilh various local clients. manag.ng faciliues across differeni lo¢auons. Perfomian¢e Despite the challen9iThJ economic envitonrnent, Active NaD"on. under ts Cause- rniss. dems1[aled resilience, maintaining a commiiment to high-quality èdivrty programs aThJ cost cMtrtl. The Trustees believe that the improved finanual pkttom) a¢hVed this year posib.ons the Cherity wdl for futu opryytunitie5 aThY growlh. Key Performance Outcom05 IKPOI KPO 202112022 202212023 Income from charilable actiwtes-. Manag8rn8nt Activit £8,7%,282 £10.782.321 Inc0rn8 from charilabl8 aCtiwts'. Sports Subsidy £1.036.424 £1.030.484 EmF4oy8e Costs £6.(5,925 £7.058.159 Nel Funds I.848.1Y2l 1£3.885.7021 Quallty The Charity maintains a de(licat¥)n to iThYependent assessn*nt of its owab"ons. The coftynitmert to qUlty extends to soual Iru$lOn initidtiv¥¥. Wh[¥ AL%nig NiilK)11 ii¢tiv¥ly bv(xks' io ieducF b4rriers to P<LrtNiPdJbw &qiKI pruvide uppurtyiiilivb fur v4riuub pvpuldtlI
rnentÈ. T•chnology Page 3
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el Investrnent continues in online and dgital plafform5 along Tr¥ith the enhancernenl of a Supwrter App. Improving ihe overdll supporter experiern. The digital tran5fomiation faulitstes improved comfflunicalion. dats tr1. aj ur-friendty interactions for SUF4X)rters nationwide. Trustees The Twslees actively contribute to governan. re¥Ing the slrategic direc1) and finanaal performance on a quartewly basis. Despite financol chaInge$. the TnJ$tees re¢ognisp)nthtanl rxogress and exwess (j)nfiden In the Charity's prospeds. Management Building upon the 'Bnllianf Active Nalon Nlanager programme. Ihe organisat has expandeij the '8rilliant Rewards. initiative to recDgnise out51Hnding etnkloyee r(thibutioTr5. The Leadet5hip Team rertFin5 enjagetj in wte vEits. 5UPPOrting loral leadership. and ros18rirg a positive oryanisalional culwre. Campalgnlng Supporter subwplis a now beyend pr&pandemi¢ levds. Employment & Intsrnal Comrnunications Active Nation adheres lo equal opwrtunity prinThFles. primoting dNergY and Indusion. Web-based interna Communicati¢ tools facilitate engagement, sharing best waCti. womotitwj events, and ¢detrKab"ng successes Unilateral pay Me$, conducted annually, consider l(Kal pay ral8s, geryray, and indid pwformance. Tradinu Subsidiary The Charity's trading subsid1, Actwe Nabm UK Traling Ltd, remains iJcArnanL explryiThJ opportonities lo red/elIminSte the def1t. Going Concern Whilè ree(nIs1ng rnaierial uncertainl. the Trustees express confMlerce Ihat the measures in pla will ffleel Jbligations as Ihey fall due. Th8 Charity rn8d8 a105s of £1.037,570 In FY23. but the Trust885 lIeV8 Ihes8 W)5rfM)ns the organtil for fulure growth. Flnanelal Ro•W The detailed financi81 stslements refflect th8 ChJiVs reliance on facilty uS for knnds. wilh Ioc318uthority fLJnd8 fomiing a proportionately swnaller Porti( than fty other leisure tru5t& IDve51rrEnt 3tKI risk tnanagement sitategie5. induding monlhly financial raports and quartérty forecasts. contthjte tOffinaal stabilty. Reswv&s The Balanc8 Sheet show5 unrestrictèd reserves of1£3.8B5.7021 kn FY23. Th8 Charity generates rmst funds vis subscriplicms and does not engage sp3nifi¢anUy in fundrai&ng &knvibe& In conclusion. the Truslees acknowled9e the challerKJin9 eeon(Jmic dirnale remain optirnistsc about the Charitrfs impact on Ejctivity P8rticipation rales across the UK The financial results provmle irwoved platfomi for seeknng further gr(Mlh opportunities and extending the Charity's impactful work. Audttors The aLNJitors. Shaw GILg)s (Audit) Limrted, have Indted U*irwillingness conkn.nue in ¢fft. The designate(J Trustees bMII propose a motion appoIntIng the auditors at a meetsrKJ ol the Trustees_
Provision of inlormation to auditor5 Page 4
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el So f8r as each of the trustess i8 awar? at Ihe ts.me the reporlis arwroved.. There is no relevant alit inforrrwl%)n of whKth Company5 audit5 arB unawdre. and the Ttustess have taken Bll steps thgt they nijght tn havA taken tn make Ihemvfv&8 aArg. Of any aimlit inf(matirJn and tn etAk4ish ttrkqt Iho. aiJditnr$ awarEJ nf thAt information Approved by 0er of the rrmbers ol the boarrj ol Twstees and svwed (ffi Ibr bthlf ty. DJ Hughes Chainnan Dat8.. 14 May 2024 Page 5
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 MARCH 2023 The Trustees jwho are also the direclLYS of Ihe Charity for the pu)5eS of CL¥np3ny lawl are responsiNe for weparing the Trustees, Report and the financial ststements in accLYdance wilh akylicable law arKI United lQrwJdom Accounting Standard5 (United lQngdom Generally Accepled AccoutTkng Praclicel Cornpany law requires the Tnstèes to prepare finarrial statemenis for each financial . Under company law, the Trustees musl not approv8 th8 financial statarnts unless th8y are sab5fiwJ tIt Ih8y gwe a true atvj fair of th8 State of affairs of the Group and th8 Charity and of their iicoming resources and appIon tsl resources, induding their Income and eypenditure, for that period. In preparing these financial statements, thtr Tfttstees are required to." selecl suitable accounting rKJh'cies and then apFAy th8m Consten'. obsErwE the [rEthS and prinoples ol the Charilips SORP IFRS 1021." Make lucJgThls and accounong estlmaies thai are Eawable and prden1'. state whether applicable UK Accounting Standards IFRS 1021 have been fdlowed. subj.ed to any material departu$ disck)sed 2nd tsxplained in Ihe financ1 stalanenls. prepare Ihe financial staternents Ihe giMrTrg concem basis unless it k% in4)prwiate to presume that the Group will Continue in business. The TNstees are responsible for keepirKJ Jequate accounting rewrds thai are 5uffi(ient to slK)w and eXaIn the Group and the Charity's tr8nx4Ctions and disclose wlh reasonable ac(xJraty at any time thtr finantAal wsitson of the Group and th Charity and Étn8ble them lo ensure that the fin8llCi81 statements comply th Ihe Companies Ad 2(MK. They are 8150 responsible for saleguarding the assèts of the Group and the Charity and h8nce f?r lakirvj w8asonab18 St8Ps for the prevention and det8Ction of ftsud and other Irregularit$. Approved by order of the mernbers of the Lxjard of Trustees and its behalfby.. DJ Hughes Chairman Date.. 14 May 2024 Page 6
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el INOEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACTIVE NATION UK LTD Oplnlon W8 have audited th8 financial sta18m8nt5 of Activ8 NalK)n UK Ltd {Ihe'par8nt (writatA8 CDmpanYI and its 5ubsidiari85 Ilh8'group'l for the ye8r ended 31 March 2023 Wh comwse the ConsdKlated Ststemenl of Finanual Acti¥itEs, the Consolidated Balance Sheet, the Chafity Balance Sheet, the ConsolKJated Statent of Cash Flows arml the relaled notes, including a summary of signific8nl accounting w)licies. Th8 fin8noal rewrting frarneW that has b8w ap1 in thwr PTepar3tion E aptlic3ble law 8nd Unit8d Kingdorn Accounting Slandards. including FIDanaal Reportv)g Standard 102 The Finartial Reporting Standwd appfi¢able in the UK and Republic of Irelaw¥J' (Uniied gdO[ Generaty Accepted Acci)untirwJ P[actl. In our opinion the finanoal ststements.. give a true 2nd fair view ol the state ol the GrcAJp's and of Ihe pat charlable rmpanY$ atrairs as al 31 klarch 2023 and of the Group's IOmiNg resrceS and apts.( of resources. induding its wKome and extEnditure for the year then ended. have en wwerfy prepare(l in ac¢¢ydan 1th United Kin>Jtyn Generallv Attepted Aco)unting Practicè." and have IEen wepared in gccordance ith the requirefflwts olthe Ccmnpenies Ala 2006. Basis for opinion We ¢onduded our audtt in ac¢oTdanEe th Intpmational Stanllards on Audthng IUKI IISAS IUKII and applicable law. Our regpongibilitips under those standards are lurther dpsCribI in the Auditorfs renbIli11ÈS for the a1{ of ihp fin2nci81 stalÈmEnts settn of oui report. We are Independent of the Grp In arrAxdanr£ wilh the ethr21 requirements that are reevant to our audit of the financial ststprnpnls in thp United Kingdom. IThrJ1rfj tre Finarry81 Reprytirg C¢xJnryl's Ethir21 St8ndard. ard we have fulfilled oiir oth8r ethical rgsponsibilities n ac(x)rd8nce ivith these requirements_ We tlIeve that Ihe audit edence we havg obtained is suffiognt and apprapriale to pmvide a basi5 for (xjr 4)Inion. Matvrfal uncgrtalnty related to golng concern We draw attention to note 2.2 in the finaal ststements. which iNJicates trot there was a éefiat of £1.037.570 for the year erKled 31 March 2023 and nel liabile$ of £3.885.702. Recovery from the CtrOnaruS pandtsmic and irtreasing costs have negauv8ly impacted ongoing the operating wsits"¢M and cash flow of Ihe Group aThY parg)t charioue company. As slated in nole 2.2, these events or condion5. along ith Ihe other rralters as set forth in the note 2.2, indicate that a material unc8rtainty exists Ih8-. may cast swJnific8nt doubt ffl th8 Group's (x the parent eharilable cornpan5 ability to continue as a going concern. Our ry)inion is not mcMYified res of thts matter. In auditing the financial statements. we have coThJuded thal Ihe Trustees. use of Ihe going ¢(w basis of accounting in the preparation of the financial statements is approprkqte. Our responsibilit'es and the resp(ffiSikn"l'es of the T[uee$ wilh pect to CO are desuibed In the relevant sed¥)ns ol this report_ Page 7
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el IMDEPENOENT AUOITOR'S PEPORT TO MEAIBERS OF ACTIVE NATION UK LTD ICONTINUEDI Other inf0mOn The oth8r infcKmation comprises th8 Informati includ8d in th8 Annual R8POrt (th8r Ihan th8 finanual stal8m8nls and Auditorfs Rewrt thereon. The Twustee5 a respSIble fr>r the other nfI)rMatsL contained wilhin the Annual Report. Our opinion on the financial st8tem&nis does nol cover other inf<)rm8tion and. ex(%pt to the extent otheiSe eXptty ststed in Dur report, we do not express any form of assur88 conclusion th8r8on. Our r8sponsibilty is to read th8 Other infomatK>n and. in doing 50. con5Kl8r whether the other inft>rmation is matenally incortsisient wath the finan¢rdl stattsments or our knowl&Jge ci)tained in the tr)urse of the audit. or otherwise appears to Je materially misstaled If we Identify sud) malaial Irthnsisterties or apparÈni material misstatements. we a IEquired to delertnine wkEtheT this gives rise lo a [TUte1 misststerTient in Ihe financral 51atemenis thernselvES. If, based on the kv(xk we have pèrforrned. C¢19 Ihai Ihero is a nwierial misststemenl of Ihis other infortnabon. we a rwuifyd lo report Ihal fact. VV8 hav8 llothlng to report iwb Ih15 regard. Oplnlon on other motterg pre$¢rlbed by the Companles Act 2006 In our opinion, bawl on the work uThJertaken in the course of the auditr. the infomiatKK) given in Ihe Trustees. Repod for the financial year h)[ whth Ihe finantsal statemwts are pare(l is consistent with the finaneal slatentS. the Trustees. Report has been prepared in acgx)r with apiCae legal requirements. Matter5 on whlch wo are requlred to rèport by exc•ptlon In the light of our knedge aThl undÈrslarMlin9 of the tharilatrAe company and its enrOnmeTht c>tainÈd in Ihe tourse of thÈ gudil. WÉ have not idenlffied malerkql misst8leMents in the Trustees. Rept. We have nothiThJ to in respect ofthe in tebb¢ to whid) Companes Act 2006 requires us to rep)rt to you rf, in our oimnion.. the parent Charitable (x)mpany has not kept lequale and actounting reLords. or rthms adequate for our audit have not been receided Irom branches not ¥isite<l )y us." or the parent tharitable company financial State[rtS are rM)t in agreement V4ith the accoLJnts"rg recths aTrl retums,. or certain disclo$ ofTrustees' rerrKnerabon SPBcfvd by lèw a rKX nwde". or we have not recewed all the infwmabon and exFAanat#yis require wr audit. Re$pon$lbllllles of tru$tees As explained more fulty In the Ttustees. ResSIbilI$ Slalement. the Trustee5 Iwho ats also the direcbrs of the charitable mnY the purposts of ¢DThpany lawl are respor51b f(r the weparation of finartol ststement5 3nd for bein9 ¥t15fEd that they giv¢ a lrne 8nd fair VIÈW. and such inm81 control as the Trustees detemiine Is necessary to Ènable preparaliDn of financial statements that are tree from marnal missrrn1. wnether Oue traurj w effor. In preparing the finarrial sMements. the Twstees are respon&bie for assessing the Group's and the parent charitable Company's abilrty to ¢ontinue as a qoinq ¢on¢em. disc$1. as op8e. matters rdated to Anq ¢wcem and usinq the qoinq Concern basis of acctsunting unless the Trustees eler inlwd 10 Iiqu dale thp Gtoup or IIE parent ¢haritaWe ctsmpany to Cease opErations. or have no realistic altemative but to do so. Page 8
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el IMDEPENOENT AUOITOR'S PEPORT TO MEAIBERS OF ACTIVE NATION UK LTD ICONTINUEDI Audltorfs r8sponslbllltles fortho audlt otthe flnanclal statements Our obj8ctiV85 8re to (A)t8in r8a50nabl8 assuran abt wh8th8r th8 finan(ial statements as a whole are free from rnat8ri81 misslalement. whether due to fraud or errol. and to issue an Auditorfs Rekvjrt that indudes opinion. Reasonable assuTance is a high level of &surance, trAJl Is not a guarantee that an alit ucted in accordance with ISAS IUKI will always delecl a naterial rnisst8tem8nt iyhen it 8XiSts. Missiaternents ean 8ri58 from t8ud 8) and ar8 CmSKJ8t8d Thaterial if. individualty or in th8 aggr8gal8. they coJld reasonably be expected 10 Infiu the ewnomi de0$)n$ ol uws ts¥en on the baskg ofthese financial statements. IrreguLirities. ncluding fraud. are IrlanceS ol rnn-complance with law5 and regulations. We design pnxedure8 in line with our reSponsi.11t1e5, Outlired above, to Iklect Thaterial m1sslalerwts in respect of irregularilie5, inclL¥JitYJ fraJ. The extent io which our procedure5 are rapable of detecting irregulwtbes, induding tral is detaiknj b(.. Wè gained an understanding ol the legal and rutory frarnew(wk aptible io Ihe GrDUP and parent chaiitable cornpany and the industry in which il opoiates. and nsided the risk of acts by the Gtwp and paierl charitablè carpany that We ¢onJP ary to applicable laws and gUlationS. includiffj fraud_ We desig[ aud t wcteduos to re¥x)nd tts the nsk. rerognigng that the risk of not detecting a matenal misstsiemeni due to frauo Is higrler Ihan the nsk of not one resutting Irom error. as fraLKI may InVoe deliberate concealment by, for examr. forgery or intentional m¢srewesentstK)ns. or thrw9h collusion. W& focussed on Lgws and r8gulatK)ns which could give wi58 io a material misslalament in the finan(xal 5t81emenls. including. but not limited to. the Ch8rities Acl 2Q11, Companies A¢t 20E)6 and UK tsx kgislat. Our t85ts included agreeing the fin8noal stalernent di5rAosur85 to und8rfying suprK)rbng docunntstioTh and enquiries with rnanagEment. There are inherent 1irnitsts.ons in the audit procedure5 described above and, the further moVed non-cornpliance with 18ws and regulations is from Ihe everts and transactons refiected In the financjal statements, the less likely we QUId bec0rn8 aware of it. We did not 8ntity any key audit rnalters rdating to irre9Jlariti8s. inrjud ng frauj. A5 in all our3udils. we also sddre558d th8 risk of rnanaggment OV8mdg of intEmal wnlro15. induding le5tiry rnals aw¥J gvaluating vthethw Iher8 wa5 avijènce of bras by the Trustèss that represented a risk of matenal Mk$Stat[ due to fraLWJ. A further de5CriPtion of our SponsILl1tieS for Ihe audit of the firancial statements is located on Ihe Financial Reporting Council's webstte al." frc or- uklaudilorsresponsib'lilies. This desPn forrns part of our AuditJrfs Report. Page 9
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el IMDEPENOENT AUOITOR'S PEPORT TO MEAIBERS OF ACTIVE NATION UK LTD ICONTINUEDI U8& of our report Thi5 report is mad8 scldy to the Charitab cpanY'S rn8wTtsrs. as a bod, in a(thance th Chapter 3 of Part 16 oflh8 Cofnpani85 Act 2006. Our audit work has been undertaken so that we might state to Ihe charitable companls members those matters we are 18quired lo state lo tretn in an AllIo¢S Rert and for no other wtpose. To the fullest extent permiited by law. we do not accept or assum8 restK)n5ibilty lo ane other ljwn the Charitab company3Dd its m8mbw5, as 8 ivyjy. for our audit wowk, for this r8POrt. orfor the opinions wè have forme<J. Mark Dickinson IFCAI15en*)r Statutory Audrlor) for and on behalf of Shaw Gibbs (Audit) Limited Statutory Audikjr Wèy C{rt Wesl Union Road Famham Surr8y GU9 7PT 16 May 2024 Page 10
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el COMSOLIDATED STATEMENT OF FINANCIAL ACTrIrnES IWCORPOIiATING INCOME AND £XPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2023 Unrestrlct funds Restricted funds 21123 2023 Total fund5 2023 rotal 122 In¢rxne from: chant£e aC(we$ 11,811805 11.812,805 9,83Z, 706 Gen8ratit¥J fvnd5 Other inc0rn8 380.985 380,984 161,031 2.03S481 126370 2,161,852 7,913,001 Total income Expenditure on: Raising funds Charitse a¢tiWe5 14.229271 126J70 14,355,641 77.906.738 405 1$,25612 135gy 15,392,806 12.991,044 Totsl ¢xppnditur• 15.257217 135994 15,393,211 12,991,044 Net expenditure Trxnfpr hp.twè>n funds 11.027,9461 19.6241 19ffi241 9fft4 11,037.5701 {1,084,306) N•1 mov•mnt Sn funds 11.037,5701 11,037,570) (1,054,306) Re¢on¢ili&tion of fund$: Tot81 hjnds brou9hl forward Net trlement in funds 12.848.132) 11.037.570) 12.848.132) 11,037.57LII (7,763,826) {1.084.306J Totsl funds carried forward I3.5.7&2) 13.885.702) (2,848, 132) The ConSlrIale4 Statem1 of Finaroal AcbvitEs ldudesaI1 gains and Ictsses rewgnkged in the year. The notes on pages 17 10 43 lomi part of IhÈse finanoal stalements_ Page11
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el REGISTERED NUMBER: 03072216 CONSOUDATED BALANCE SHEET AS AT 31 MARCM ZOZ3 2023 2022 Note Flxod a$$•ts Intangle assets Tan91t8 ass8ts 12 14,000 231.950 25.000 13 198,242 245.950 223,242 Current assets stocks 15 173 38.788 Debto 16 1123.051 41Q700 1,316,551 615.495 Cash at bank and in hancl 1584,924 7.9TO.e34 Credit¢rs', amounls falliThJ due wrthin one year 17 15.7117621 j3,423,770) Net cunpnt liabilities 13,128,838) (7,452,536J Total assots lèss ¢uft•nt 1labl1l•s 11882,8881 (1.229.294) Creditcrs.. aallnts fal.ing due after rnore Ihan one year ProVishS for Ik8bilities 18 1800.0011 1202,8131 (7, 163,983) 1454,855) Nel Ilabllltias excludlng p10 as1 13,585,7D21 (2,848.132) Total not ass•ts 13,885,702) (2.848, 7321 Charlty funds Restricted funds Unrestricied funds 13.885.702) (2,848, 1321 Totsl funds 13.885.702) {2,848, 132) Page 12
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el REGISTERED NUMBER: 03072216 CONSOUDATED BALANCE SHEET ICONnNUEDI AS AT 31 MARCM ZOZ3 The Trustees aCknOwdge their responsibili5 complying wilh the requirements of Ihp Act 1th respect to acwjnbng record5 and preparation of financral stalements. The financial statements ware approv8d arvj aUth(sj sU8 by lh8 Trus18e5 ar s19r on thwr b8half by.. DJ Hughes Date.. 14 May 2024 The notes on pages 17 to 43 lomi part ot Ihese finanual sts*ments. Page 13
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el REGISTERED NUMBER: 03072216 CHARITY BALANCE SHEET AS AT 31 MARCM ZOZ3 2023 2022 Note Flxod a$$•ts Intangle assets Tan91t8 ass8ts Investments 12 14,000 231.950 25.000 13 198,242 14 245,951 223.243 Current assets Stocks 15 4&173 1121050 4147() 38,788 1.316.550 Deblor5 16 Cash at bank and in hand 615,495 1584923 1,970,833 CreditCfS.' amounts falling due within year 157117621 (5.423.370) Nat current Ilabllltl85 13.128,8391 (1,452.5371 Total assets less cuirent Ilabllities 12,882,888) (1.229,294) Creditcfs.. amounts falling due after more than o 18 1800,0011 1202,8131 {7.163,983J 1454,655) pro)n$ for IK?bilities Net Ilablllties excludlng pelon asset 13,885.7021 (2,848, 732) Total net agsd$ 13.885.702) (2,848, 1321 Charrty funds Restncted funds Unrestricted funds 13,885,702) (2.848, 132) Total funds 13,865,702) (2,848. 132) Page 14
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el REGISTERED NUMBER: 03072216 CHARITY BALANCE SHEET ICONTNUED) AS AT 31 MARCM ZOZ3 The Charily's nel movement in funds forthe yearw& 41.037.570} (2022- £{1.084:306)). The Trustee5 acknowl8dge their rp5FrfJnbl1iW f(¥ [nPlng wilh the requirpwnents of Ihp Acl KTlh rBsp8d ID atxxxjnting rBcord5 and preparation of financial StamniS. The financial statements We appro¥ed aThY autrKised ts tssue by Ihe Truses and on their behalf by.. DJ Huyhes Chalrman Date.. 14 May 2024 The no18s on pages 17 10 43 lorm part of Ih858 finanu81 slat8n*nts. Page 15
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el CONSOUDATED STATEMEPIT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 22 Cash flows from oporating a¢tiviti•s Net cash used in operating actiwbes 427.212 1135.173) Cash flow5 from InYe5tlny actl¥Me$ Purchase of tsngible fe assets 1200,8281 (77,663) Net cash used in invosting activitiès 12th).8281 177.6631 Cash flow5 from financlng activlt Repaymenis or borromng 1425,1781 P48,300J Net cash used in financing activities 1425,1781 124B,3001 Change in cash and cash equivalents in the year 1198.7941 1461.1361 Cash and cesh equivalents at tre beginning ol the year 615,494 1.076,630 Cash and cash Ul¥l0nts at th• ¢nd of tho ar 416,700 615.494 The notes on pages 17 to 43 lomi part of Ihe5e finan(aal stsments Page 16
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Genoral informatio The campany is a private company limited by guarantee incorporated in EngL41 and Wale5_ fts r8gistered Office is Unit 1B Hatton Rock Business Centre, Hallon Rock. Stratf(Kd Up1 AVOD. Wathh1re. CV37 ONQ. The TnJst88s listed in th8 aLwunts are also memb8f5 of th8 cunpany. In the event of th8 company being wound up, the liabilty in respect of guarantee is Iirnited kb £10 w mernbef ol the cnpany. Accountln9 pollcles Zl Basi3 of preparation of financial ytatsments The financial 5tstewnents have been prepared in ac£ordance with Ihe Charit5 SORP IFRS 1021 - Accounting and Reportin3 by Ch3ritie5". Statetnent d Rec(Thmended Ptxtice aJp11cab to charilies preparing their account5 in cor(Jance with the Finanal Reporbry 5tan(JartJ aPIcable in UK aj Republic of Ireland IFRS 1021 (effective 1 January 20191. the Financial Repting Standard applicable in UK aThd Republic of Ireland IFRS 1021 and the Companies Act 2006. Aciive Naiion UK Lld meets the defjnrtn of a public benefit entity under FRS 102. Assets and Iiats"Iites are Initially re(x)gnised al historical (x)s¢ ¢x wansarkn value )$$ ther¥ffje stated in Ihe rekvant aco)unting pcAicy. The ConsolKlated Stalement of Finarrk31 Acti¥ibes ISOFAI and cS01K1aIed Balan Sheet CS011dale the fanCIal slatemenls ol the Charity and ts sub&diary undertaking. The results of the subskaiary are COrtsldatd on a line by line b851S. The Charity has taken advantsge of Ihe exemption allowed section 408 01 the Curpanies A 2006 aThJ has not pre5efit tts ovffl Siatemenl of Firnal Actrwties in these ffinanoal ststents. Page 17
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng PDllcSes Icontlnued 2.2 Golng ¢on¢ern Th8 Chaity h85 d8vdoped a comprehensive 5 Year Plan airved 8t R8shapiry Recovering. and R8building ils oparations in response to the enduiing Itnpact5 of sgnfficant Increase in Energy Cost5. In the 2022123 financial year. the Organi expenenced a 95°A n5e n enetyy Costs de5Wte a 35% redLKtioTr In c0n5urnp1n. During ihis period, the Chanty did not recVe any 5UPP(xt fti)tn gra15 OT furKJing towards eneTgy cost5 and thp resum ts the year bvas a dBficit of £1,037.51012022. £1.034.3061 and cwreni Net LottIeS pogtion of £3.885.70212022-. £2.8A8,1?al. However, mutually otiated and agreed paymeni arrawents have be establisW all key suppliers. Notably. income gW by 25Yo compad to the prevws Fer. In April 2024. the Charity will Implement a new 2-year energy agreement. whKh is expected lo rfuce costs by 50° comparfJJ to syevious years, thus alle4iating some of the crisls-indud burde. The Charity anlicipates retuming to a surplus positson within 18 rnonth5 throwJh fo(xtsed 8fforts in its c8 rnark8L Despite a rsistentty thallerorg ecorK)mic clmate influenrA by 8xtemal factors, Ihe Chty maintains a robust trading tion, as evid8nc8d by consistenl FThJuct sales and strorg partIpatiOn across all venues. This stabilty serves a5 a foundation for th8 orgaThSations finanGal standing. Ongoing efforts to oplimise expewvJttuE. J1arfy ihrough 5eoJiirwJ cornkEtthve deals on energy and other high-value CDnlrac15, are a priority. Addihon3lly. a recent seni¢xtearn restrudure ha5 5treatnIin operabon5 and reduced c051s. The Trustees *Knoed9È IS)nan( urtertainties surr<LiThJing me chaws gomg COnM siaius. However, tney are confident that Ihe strateg¢ measures in place Mll ae Ihe Charity to fulfil all ol19ationS as they wse Page 18
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng PDllcSes Icontlnued 2.3 In¢orne l income is r8c(yJni58d once the Charity has 8ntil18t to th8 inc8. is prob8ble that th8 incom8 will be r8C8iv8d and the amount ol Io[e re1VaLle can be trwsurej reliabty. Grants are included in the CoD501idal8J Stalernenl of Finanaal Activities on 3 teceivable basis. The balance of irKome received lor speufic purposes LMJI not expenthd durirvj thè Feri(J is shown in the relevani fvnds on the Balan Sheet. Where income is received in advan ol meeting any perfom)ance rekted conditions there is not unconditional entitlement to the income aThJ ils recognItTr is ckferred and induded in Creditors as deferred income until the rformance rel3led ¢ditionS are met Where entiU&menl occurs before income is received. the income is accrued. (>)vemment Futhgh Grants a rec(yJn¢ed In Ihe peric#J of ents"Uement. Donai8d servK%S or facilth"e5 ar8 r8ccMJnB8d when tharity has ¢x)ntrol i)v8r th8 itam. any coTrditions 8ssouat8d with the donated Item have been rn2t. the receipt of economic bÈnefit from the use of Ihe charity of the itern is probable and the economic benefit e2n be measured reliabty. On r8cgiol. donat8d F¥ure5sal 5erwces at¥J ar8 rewni5ed on the basi5 of the alue of the gift lo the Charity which is ilie anKKJni IL would have bewi willing 10 pay Lo oblaiii serVIS or lacilities of equivakni ecoTioinic L)enefil rxi the open maket., a corresponding arrK)Unt 15 1hen ni8j in expendituie in peiKwJ of rerript. Income tax recoverable in lat)n to donab.ons recei%£d Gift dee(Is of covenant is rewnised at the time of the oonaih)n. Other intome is eniSed in the pÈrrxl in whth it is redtrAÈ lo the exiÈnt Ihe gorxls have bèen provided Dr on completion of the semce. 14 EXpendIre Expendir8 15 recognis8d cE th8r8 is a legal w CO1[Uc18 otAuation lo Iransf8r econornic b8rTrefrt to a third party, it is probable that a transfer of economic benefts VAII be required in setuernent and the amount of the 0JgatiOn can be rneasur relraLly. All expew¥Jtture is accounted fot on an accrual baE45. The cosi of geneotirvj lunds includes the costs of irr(me contract generab.on and the $t ol sales of Ihe toding subsidiary. Chtable expendilure is the cost of activties in fvttherance of the Chantys objectives mcluijiw mana9ement and ancillary ac11vit9 al the spclts fadilEs which a ¢weiated. Cost of generdting fuThls are eAculated as a percent&Je of wages and salaries and assl8ted cost8. Cost of S3$ is Ihe ¥ue of bar cring wrcN4ses Inrjuding delwery. Included wthin g0vevwnce LY)Sts are supwrt costs and management and adrninistiation expense5. Support costs ale alculat&l as 80% of adrnini5tr8bve eXpdItUre. 100% of support services cosls and 100% of legal costs. Man8gement and adrrinistratKin costs are ralcuLBt8d as 20% of administrabve eXp)ditUr8 and I% of audit and accountancy costs. Page 19
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng PDllcSes Icontlnued 2.5 Government 9ronts Governmenl grants relating to tangitAe fixed ass8ts 3r8 treated as deferr1 income and released lo the Consolidated Slaternent of Financial Activities over tie expELled uselul lives of the assets concerned. 0er grants a credited to the Consolvkted Statetnent Df FIn0a1 Acbwbes as the rdated expenditure 15 i1u[ted. 2.6 Int8re5t receivable Interest on fuThYs held tm depo&l TS Tnckjded when receivable and the anYMJnl can be measurÈd reliab by the Grp". this is norma ly upon Trolific8th)n of the inleiest P8Y or payable by Ihe Institut with ttom the fvnds are deposite£l. 17 Taxation TFie Clidrily i¥ Uln&Kleted Iu VdSS ilie IEsls sel uul iii Pardyidl 1 SdIedul 6 uf i1 FililL8 ALI 2010 diitj Iligipfure il meet5 the deliriknon of a tharrtable cixnpan) lor UK c(xporation tax purwses. AcCOrdilY, the Charity is potentially exempt from tayalion in respect of in(xxlle or Catal gain5 rewved wthin Iztegories (x)vered by Chapter 3 Part 11 of the Cwration Tax Act 2010 or Sect 256 ofthe Taxat of Chaigeable Gal Act 1992. lo ihe 8x[t that such incown8 or ins are applied exclusvety to charitsNe purpose5. 2.8 Intanglble ass•ts and arnortisalion Intangible assets a captalk%ed and re¢ogntsed when futu econom benelits are probat4e and the cost value of the asset can be rneasure(I reliably. Intangib assets are InallY r8c(yJnis&l at cosi After recyrIllC. under Ihe cost nMJd81, Irtarylb assets ar8 measur1 at cost less any accumuLqted 8morbSatiC any MlaLA impairrt k)sses. ArnortisalK)n is provided on Int8j18 as58ts at rdtes rakxjlatsd to wrtt8 olf the cost of 8ach 8S58t on a straight-lin8 basis over its expected useful lrfe. kn0rt1satn is provid8d on the ftAk)wing ba." Goodwill low of life of assets15 years) or rernainirKJ life ol Intangibb a5sels lower of lrfe Dfa5set1&5 years) retn3ining lrfe of cC)trt 19 TangSble flxed assets dewe¢latlon Tangib18 ffix8d 8SS8ts are cspitali58d and rgc(Jni88d when fulure 8con(1C b8n8fits ar8 prcl)ab18 and th9 or valu8 of thè ag$Èi can be mea$wed reliably_ Tangible fixed set5 intliaiy rvwnised at cost. After reu)gnilN)n, under the cost rn11. tangible fiK&d as5els are tDeasur8J at C05t less accumLlated deprscvabon and any ac(yJmuL*8d impairrnenl k)5S8s. 1 costs incurred to bring 3 tsThjie fixed asset into its intended worknn9 condilNM shtyJkJ be induded in Ihe me8surement of ecet Page 20
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng PDllcSes Icontlnued 2.9 Tanglble flxed assets dewe¢latlon {contSnuedl Dwaciation 15 charged so as to alkxat8 Ihe cosl of tangibl8 fix1 ass8ts S thr residual value over Ih8ir eslim8t8d lul lives. The estimatèd usÈful Iwes are as fdkn•s". Buqding improVents -lower of lrfe ol assei1>15 years) or renlaining life ol )Ira¢t - low&r of lrfe of assel12-S years) or remainir%J life of )tra¢t Office and m8iOf W4uipMl 2.10 Inveslmenls Investments in subsidKgri8S 8re valu8d at cost pr(Msion imparm8nt. 111 Slocks stks we valued at the lowei of cost 3tYJ nel reall5ab value after tnaknng due allowan for obsolete and slow-tnoving slod(5. Net re31i53ble value 15 on estimated sellng Pri Ip55 revant selling cost5. Cosi of is ¢akulated on a firsi in. ffirstoJt t"% exdudiry VAT. 112 Debtors Trade atKJ other debtors are Trcognised at the settlÈment amount after any tr&le discount offered. Prepayments are valued al the amount prepaKI n&t of any trade dIScS due. 2.13 Cash at bank and In hand Cash at bank anij in hand ind185 arKJ 5hort-term hwJhty liquid inv8sbv8nt5 wlh a short m8twty of thre8 tnonth5 or less from the date of acquisilion orowing of the deKKwt or simiL8r acc<¥Jnt. 114 Llabilltles Liabilities and KWOViSk)ns a rn1 %then there an oblwJation at the Balan Sheet date 8$ a result of a past evenL it is proba9 Ihal a transfer of ecmyfiic neffit will r8qured in setllernent. 8ry1 Ihe arUnt of tl* setrfarnent C8n be estimated reliabty- Liabilities are renISed 8t th8 amount Ihat the Charty articipates it will pay to $81118 the deb1 or tth8 amount it has receivèd as advanted payments for the g(xxls or servts$ It rrust prowde. 2.15 FlnancSal Instruments The Group only has finawal assets arKI fin&ntial liabilibes of a kind that .4ualify as basic finantial insttum8nts. Ba81C financial instrum8nts aTr initially recognis8d at trawwctIL walu8 and subs8quenWy wn8a5urad at their settl8m8nl value with the excepiion of bank k)ans which a sut.sequerty Measu at aftlSe cost USiThJ ihe effects.ve interest method. Page 21
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng PDllcSes Icontlnued 2.16 FInan leases and hlre purch Assets cbtsin8d under hir8 purcha58 ctraCt5 and finan(x 8s85 ar8 capitalis8d a5 tsngib18 fix8d as88ts. Financ8 lease5 aT those where substantrally all of the benefts and wi5k5 01 ownership are a5sunEd by the Group. Obligations under such agieerTrents are Induded in Creert5. tt of finance dwrge allwated to futu peds. The finan plernent of the rental payment 15 charged lo the COnlIdated Staternenl of Financièl Aetivities so as tts wduee a constant perK)d rdiÈ of charge on net obloatw)n outstartiThJ In each penod. 117 Op•ratlng l•as•s Rentsls pai¢ under operab.ng kases we charg&J lo Ihe ConSdhjat Statement of Finanoal Activities on a stravJht-line b8sis over the se lemi. Benefits reGe1V and recwvatle as an inGenthve to sun an operating lease are refjognised on a straight line ba¥is over tha perK until the ijate th8 rent is exp8Ct8d to be adjusted to Ihe pr84ailing rnaet rdt8. 118 Pensions Pension costs ITh respect of contributi)ns made by the cornpany ttr rnoney purchase pe150nal pension 5chernes afe Charged lo the statetnellt of n3la1 ar1[beS 35 InlyJe. The Group operates a defined benefits penswj) scheme. The sd)eme is a mults"rnplo il is not possible, in the rK)mial tsr$e of events. lo identify on a o)nsistenl and reasonable basis. the sh¥e of underlying assets and lialitIeS bglonging lo individual partiCiP8ting empk)yers Therefore. the Grp accounts f( this scheme as if it was a defin8d contribuknon scheme. The amcunt dkn-rged lo Staiemenl of fInarla1 activilies inccKprKating income and expenditure represents c0ntn.buti0 payable to the thme in respect of ihe acrx)unting Feriryy. 2.19 Irrecoverable VAT The majority of incoming resol are eXep1 Ir(xn VAT resurtirYJ in the Charity being unatAe lo recover all the VAT pUase5. The prOlon ol disalbwpd VAT B LzkuIat warterty aTvJ annually be a r[hOd approved by HMRC and 15 induded wtthin tharitable exterKJiture Mthin ll¥rtieS in lultheTrn of Ihe Chatitys objeLlive5. 120 Fund accounting General hjnds 8re unrestred fun(ts which we avaiLqtAe lor use at thè diretion of the Trustees in furtherance ol the gèneral objedives of the Group and wbith have not been deyonated for other wrpctses. Restrict1 furKls are funds which are io in Cordan with speufic restricb'ms imposed by donors or which have tEen raised by Ihe Group for particular pU)SeS. The costs of rat51 and aministeritVJ such fvnds are charged against thg speoific fund. The aim and use of eh reS¢ted fund is Sel in Ihe notes to fin¥nu31 st8iements. Page 22
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 CrStlcal ac¢ountSng •stlmates and weas of ludgm81)t In the appli¢ation of Ihe Companys accounting policies whith are dewbed above, managemenl is required to make e8tim818s. judgments and a&%umptions ab¢xJt Ih8 rarrying v81u8s of assets and liabilitS that 8r8 not readily appar8nt from oth2r sources. The eslimates 8nd under.9 assurnptions are based UP historical expewi8nc8 olher ftOrS thai are consider8d to be relevant. Adual resulls rnay differ Irorn these estirnates. The e5titnates and UWKlerlying assuTllPtion5 are tewewed on an ongoiw bas. Rewsions to accountiny estimztE5 ale recognised in '.he perKxl in whirh IhE estimate is re4i5ed if affects only Ihal period. or in thE pericKI of thE ievi5iOn and fure per#)ds il the revigon afte¢ts tx)th curwtand fuijre perirmts. Cdlical accounting estimates and assumpts"orts- There are no sources of estimation uncertainty that a siwifn( effect Df Ihe amounts recognised in the financial statennts. Income from charitable activities UnrestrKted fund6 Total lund8 Tot. 2023 2023 20 10.782.321 8,796.282 Man8gemenlAcbVi'eS 10.782.321 1,030,484 1,036,424 Sw)rt& Subsidy frotn L(41 Atrity 1.030.484 Total Z123 11,812.805 9,83?.706 11.812.805 Total 2022 9.832.706 9.833.7(P6 Page 23
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Income Irom generating UnresIrt•d funds 2023 Total funds 2023 Tot. 20. 258.294 761,031 Income from Anolliary ActNth"es 258.294 Tol812022 161,031 161.031 Incomè from non tharitablÈ tradiry actkntiÈs Unrestricted funds 2023 Total funds 2023 funLIs 202 Torridge confftt ino)rne 122.691 122,691 Total 2022 Othw income Restricted funds 2023 Total funds 2023 Tot, fun, 20. 2023 Car park. dryers Funding Ev8llts 1.350.270 1.350.270 741.566 150.811 126.370 277.181 1, 166,990 7.840 7.840 4.445 Loss of incorne claim 526.560 526.560 Total 2023 2.035.481 126.370 2,161.851 1.913.001 Total 2022 1.301.273 617.728 I,973.1 Page 24
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Othtr Income Icontlnuedl Within unrestrided fuThling £nil 12022 _ £22Q,6091 reLqtes to GDvemmenl Furtough Scheme and £nil 12022 - £329.6531 locAI support, restart grants and other fvnding. Within restrict1 funding £126,370 12022 - £125.156) r81at8s lo Hdiday and lorj grants and £nil 12022 - £486,572) relates to Natial leisure recovery lunding. Analysis of expenditure on charitsble activities Summary by lund typE Unrestrl¢ted funds 2023 Restrl¢ted funds 2023 Total 2023 Tol8, 202 Chantsble expenditure 15.256.812 135.994 15,392,806 12.991,044 Total 2Ct22 13.997.044 72.997.044 Sumwry by expendlture type Staff costs 2023 Other costs 2023 Total 2023 Tot8 Charitable expendiluie 7,058.159 8,334.647 15,392,806 12,991,044 Tolal 2Ct22 6.06&926 6.925. 11 12.991.044 Page 25
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysis ol expenditure by activilies Ac¥eS undÈrtaken directly Support costs 2023 2023 Total funds 2023 Tolal funLIs 202 Chantable expendiiure 13.787,574 1,605,232 15.392.806 12,991,044 Total 2Q22 11.790.395 1.200.651 12.991.044 Analysls of dlr•¢t $1$ Total funds 2023 Total Funds 2022 2023 Staff costs 6.916,997 6.916.997 5,944,606 Ag8ncy,IExtemal Staff rravd & sub5islenGe 373,128 373.128 346,928 105.167 105.167 60,615 2.501.2 2,501,299 1.255.667 EstalShrtEnI 1,523.92Q 162295 1.523.920 2.229,274 98,625 Markèting SÉNice Charges Insuranc 162.295 164.255 164.255 167.507 236.357 236,357 924.120 ITT.251 Irrecovefable VAT 924.120 774,630 Sundry Exp8ns8 Rates & rent 10,115 10.115 13,018 1n,504 173.504 57,988 LInceS 184.343 184,343 120, 143 Local Ajjthority Paym8nt 512.074 512.074 543,541 Totsi 2023 13.787.574 13,787.574 17.790.393 Total 2? 11.790.393 11,790.393 Page 26
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Analy813 of expand51 by actI¥lti l¢ontlnu8dl Analy$i$ of $upport costs Total lunds 2023 Total lun¢Js 3Q22 2023 staff (x)5ts 141.1 141.163 14,315 3,253 121,377 70, 729 Agency,'Extemal Staff Trgvd & subsislen 14,315 3.252 1.875 76.741 76.741 54.927 38,635 54,879 EstatiShment Mark8ting Service Charges Insurance 5.019 5,019 3,050 3.352 3.3S2 3,479 7,310 7,310 5,482 Sundry Exp8llS8 Rates & rent 312 313 403 1,7 1.753 586 Ln 5.701 5,701 3.734 Admini5tratK)n 710.471 710.471 499,737 222.807 Legal & Professnal Audit & Accountsncy Cost of Sales d8n¢illary a(awibes 2d9.825 249.825 .746 9).746 59.381 240.343 240,343 174,417 Totsl 2023 1.605,232 1.605.232 7,200,651 To1812022 1,2W,851 1,200,651 Auditorfs remuneration 2023 22 Fees pay2ble lo the ch11$ auditorforlhe rt of Ihe Chanty's annual acmjnts ),746 59,381 Page 27
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Stsff costs Gmup 2022 Chaflty 2023 Chanty 2022 Z023 Wage5 and Salar5 Social security A>sls contribut to defined cOntribth s¢hwEs 6.521802 5.621,277 .l72.71 6,522,802 5,621,277 .7.72. 71 399,91¥ 399,918 135,439 111.932 135,439 171,932 7,05Q159 6.065.925 7,058,159 6,065,925 The averagB nurnber of PBrsons pmployad by Ihe Cl¢rity during Iho rWaS as lollows: Group 2023 No. Gw 2022 Chariiy 2023 No. Charity 22 No. ServiTr delivery. dire(I 5UPPQrt Supwri Managernent and 4dtnini5tration 493 493 504 The avera headcount expressed as fu1l4iTr equivaknts %*as.' l>oup 2023 No. Gp 2022 Chartty 21J23 No. C17&nty 2022 Service delivery. direct support Suprx)rt Managernent and adtninistrab'on 255 255 200 211 266 271 Page 28
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 10. Staff costs {continuedl The number ofemployees whose emoyee benefts (excluding emrAoyer non costs) eX(ded £60,0 was.. Group 2023 No. Group 22 No. In the band £80,l- £70,000 In the band £80,(X)1- £9),000 In the band .1)1- £1(KJ.OOD Total gross pay including sooal security Costs of key management %sas £396.32712022- £4T6.6291_ The pension contributions madg by th8 employer on b8half of Ihe key Managent £1L.97312D22- £16,2211. Trustses. rernun8rallon and expenses During ihe year. no Trustees r1Vj any mUneratioN {2022- £NIL). During the year professional indemnity Insuran the TrL6tees lor up to £2.0.0 was in pla at a cost 01 £2.960 12022. £4.2441. During ihe yearended 31 March 2023. no Trstee expenses have been 1ncwrry (a122- £NIL). Page 29
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 12. Intanglblo assets Group and Charlty Goodwlll Cost Al 1 April 2022 79.121 At 31 Marth 223 79,12 Amortlsatlon At 1 ApDI 2022 Chargefor th8 year 54.121 11,000 At31 Marth 223 65,121 Net bty)k value At 31 Marth 2023 14,000 At 31 March 2022 25.000 Page 30
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 13. Tangible fixed a55ets Group and charity OFfice and major uipm•nt Building wnwovomonts Total Cost or valuatlon At 1 April 2D22 Addib'ons 1,072,991 2.166,398 3,239,367 27.161 173.667 200.828 Oisposals 118.6771 118.6771 At 31 htsrch 2023 1.11x1.152 2,321,386 3,421,538 Depreclatlon Al 1 April 2022 Charge for Ihe year 1,029,410 23.342 2,011,ns 125.101 3,041,145 14B.443 At 31 hM3rch 2023 1.OS2.752 2.136,836 3,189.S88 N•t book valu• At 31 March 2023 47AOO 184.550 231,950 At 31 Al?h 2022 43.581 154,661 198,242 Included wbthin offi¢e major eouiwnent costs a assets hek1 under nce leases. At the year end te assets had a net book vaue of £nil12022- £1.4831 Page 31
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 14. Fixed a55et investments Investments in subsidiary mpanl8s Charity Cost valuabon At 1 April 2022 At 31 March 21r23 Net book valuè Al 31 March 2023 At 31 M8rch 2022 Prlnclpal SUdIaa8 The folbwiw was a Subdiary undertakiThJ of the Chantr. Narne Company number Princppal activity Class of shares Holding AGtiye Nation UK T[ing Limit In¢lud¢d i ¢on$olldatlon ordinary 100% Yes The financial result5 cl the subgdKWry for1he year were.. Name Net liabilities Actlve Naon UK Trading Llrnlted 90.108 Page 32
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Stocks Gmup 2022 Chaflty 2023 Chanty 2022 Z023 Finished goods and gwds forrssa 173 38,788 45,173 38, 788 16. Deblor$ Charlty 2Q23 Charrfy 2022 2023 2022 DUÈ wlthin onè yèar Trade debt(xs 199.385 S57.229 271.031 199.385 $57.228 277,031 528,277 517,242 Otrer debtors 528,278 517.242 Prepayments and accru income 1.366.437 1.366,437 1121051 1.316.551 2.123,050 1.316.550 17. credit$. Amounts falling due ¥thin oneyear (knp 2023 Gnwp 2022 Chartty 2023 Chafryty 2022 8ank loans 35&555 355,555 355,555 355,555 Trade creditors 2.977.578 147.902 1417 68,358 1,571.7 119.742 2.977.578 147,9)2 5,417 68,358 7,577, 700 119, 742 66,614 64.974 Other taX8tiC and soaal sety Finan Lease5 66.614 Oih8r creditors 64.914 Accruals and delerred incLme 2.15&952 1.244,845 2.158,952 7,244,645 3.423,370 5.711762 3.423.370 5,713,762 Page 33
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Cr•dlttys: Amounts lalllng aft•r mor• Ihan y•ar ¢knp 2023 Gmup 2022 Charity 21J23 Charity 3022 8ank103n5 8110.1101 1,155.556 8.427 800.rK11 7,155,556 8,427 Finance Leases 1, 163.983 100,001 1. 163.983 800,(A)1 Included within the ave are amunts tslling asfolkms: GrP 2023 Group 2022 Chrty 21J23 Charity 2Q22 B8twe•n one and two years 8ènk loans 355.569 355,555 355.S69 355,555 Be•en two and five years Bank loans 800.(1 444,432 800.001 The total amount withn bank loans rdate lo a CBILS Business Loan of £1_Mi In response to the economK issues incurred with the Covid 19 Pandemic and was recewed in June 2020 from NatWe5t Bank Hc. Loan rep8ynnts beggn in January 2022 and 8re for 54 rnonths wth int8r8st charg8d at 3.37QA pw annurn. Th8 bank loan 15 5ecur8d ty way of an unfiThited deb8Tltur8. with fixed and floats"rKJ charges OV the companls assets. Page 34
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Financial inslwments Gmup 2022 Chaflty 2023 Chanty 2022 Z023 Financial a5set5 Financ1 assets rneasured at amortised cost 1.17&786 1.414,804 1.175,786 1,474,814 ¢knp 2023 Gmup 2022 Chartty 2023 Charity 2Q22 Financial liabilitiès Financrdl liaknliti8s rneasur8d at ITriE8 c05t 430&9 3.222.766 4,206.9 3,222, 766 Financial assets and Iiabilths a measure¢Y al amwhsed ¢osL Fnawal assets is made up of bank. trade debtors and other debtors. Financhql liabilities are made up of bank k)ans. I1& CreditcS. other uedrtors and financ2 leas8S. 20. Provlslon$ Group Onerous 18ases At 1 April 2022 Amounts VerSed 454.855 1252,0421 202,813 Charity (knerous leases Al 1 April 2022 Amounts reversed 454,855 1252.0421 202,813 Page 35
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 21. Deferred income Grwp 2022 Charity 2023 Ch8rity 3022 2023 D&fÈtréd incomè at 1 Apnl 2022 Income deferr during the year Amounts leaSe prewoLJS peric 605,406 488.464 605,406 1,053.187 14M4641 488.464 1,053,187 1488,4641 488,464 (605.4061 1605,4061 D818rrEd income al 31 March 2023 1.053,187 488.464 1,053,187 488.464 Oefetr8d income at 31 March 2023 is made up of £876.737 12022 - £395,093) advance mernber5hips. £145,566 12022 - £38.8061 advar¢gd tthkiThJs and £40.88312022- £54.5651 ofother inwne. Page 36
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 22. Statement of fvnd5 ststement of fund$. ¢urr¢nt year 8alancÈ at 1 Awll 2022 Transfers Inlout Balance at 31 Mah 2023 Income Expendhure Unrestricted funds Generd Funds- all fuTrls 12.848.132) 14229.271 115.2S7.2171 19.6241 13.885.702) RoStrf¢tod fund$ Holiday actIveS and food grant 12Q371J 1135,9941 9.624 Total of funds 11848.1321 14.35S641 115.393,2111 13.885.702) Stat•monl of funds. prfor y•ar Ba18nC8 8t Expendilts TtsftsTe iWout 31 ZL122 14)nl 2021 UnTestd¢ted funds General Funds- all fU[S .163.826) 11,29&070 {12,991.(M41 611.728 {2,848, 132) Rostrided funds Holiday activities and fd grdnt National leisure reCA)V fund 12& 156 (125. 156) (486,572) 486.572 617.728 (611,728) Total of funds ,763.826J 11.90& T38 {12.991.0441 {2,848, 732) Page 37
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 23. Summary of funds Summary offunds- current yÈar BalancÈ at 1 April 2022 Tran$feTS inlout Balancts at 31 Mah 2023 InMe Expenditure GenetJ funds 11848,1321 14229.271 115.257,2171 1135.9941 19,(241 9,624 13.885,7021 Restdcted fund> 12437 IIB48.1321 14.3SS641 11S,393,2111 13,885,702) Summary of funds- prioryear Belan¢e 1 rNI 2021 8alan¢e at Expenditure Transfefr? inlotjt 31 March 2Q22 General funds (Y,763.826) 11.29&010 {12.991.044} 611.728 (2,848, 732) Restricted tund5 611. T28 (611.728) .763.826) 11.90&738 {12.991.0441 (2.848. 1321 24. Analysis of assets between f5 Analysis ol r1 a55ets bettn fund5- current year Unrestricte funds 2023 Totsl funds 2023 Tangibl8 fixeij assets Intangible fjxed assets Curont assets 231.950 231.950 14,(X)O 14,000 2.584.S24 2.584,924 Credilots due within one year Creditors due in more than one year Provisions ftx IKabiliti8s and charges 15.713.762) I6?,Coll 1202.8131 15.713,7621 1800.0011 1202,8131 Total 13,885.7021 13,885,702) Page 38
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 24. Analy813 of net as8•ts botwetn Iconli•)ut Analy$is of ret a$$ets belwten fvnd$- wloryear UnTrstrtcted runds 3022 Total funds 202 Tangible fixed assets Inlaroible fixed assets Current as3ets 198,242 198,242 25.000 1,970,8J5 {5.423.370J jl, 163,983) {454.e55) 25,( 7,970.835 (3.423,370J (7, 163,983) 1454,055) Creditors due within one year Creditors due in more than one year Provisons for IlitIeS and charges Total 12.848. 137) (2,848, 131) 25. Re¢on¢lllatlon ol net mo¥emw)t In funds to net cash fl¢M from )peratlng acil¥l Group 2023 Group 2022 11,037,570 (1.084.306 Nel expendrture for the year las per &atement of Fina181 Ai¥NEsl Adjustments for. Depreci8tion darges Loss on the sale of fixed assets 159,443 18,177 16,3851 1808,9741 2,354,063 1252,0421 290, 100 Deue35ellincrpa5BI in 5todts De¢reasellincreasel in deblors Increasè In crediiors 5.608 171,896 20,674 In¢reaselldeueasel in prowgon fw liabilit 454,855 Net cash prowded byllused in) opernting activitie5 427,212 1135.173) Page 39
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 26. Analysls of cash and cash •qulval8n¢s Group 2023 Group 2022 Cash in hand 416,700 615.494 Total cash and cash equlvalènts 416.7(10 615,494 27. Analysis of Ghange5 in npt debt At31 Mah 2023 At 1 April 2022 Cash fftows Cash al bank a?d in hand 615,495 13S5.SS51 11.155.556) 175,0401 1198,7951 416,700 1355,5551 180D,I)011 15,4171 Debt due within 1 year D8bt due after 1 year Finance 18ases 355.555 fj9,fj23 1970.6561 226.383 1744,2731 28. Contingent Ilabilllles The Thtract the cheY stM)rls (wrtre cKxnplex end1 n Septembei 2020. where the running of the site was handed baGk lo the council. The charity is still in nég0batmS th the <x)thul as lo the liabilities due in r&l8tion io Ihe of the contract. Thè latest correspondence from the council was recewed in Fet)nry 2022 1 there is a large differ8nce beiween the Sum the council consider payable and Ihe YJM the ch3rity consi(Jers paya18. Therefore, rdi8b18 estirnate of the liability can be sub5tsntl8M, and no flgure has been In Ihe finanaal sraiem8nts. Page 40
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 29. Pension commitmen15 The group OKrated a defird contributions pension scheme aid contributed lo multFemployer defined nefIt pension 5cheme5 where it is not FX)ssible to identify the company s share of the underfyity assets an(J liabilities and these have been treated as defngd ¢ontritwtion penson schrn. The assets are hekl separately frorn those of the group in an independently administered fund. Th8 P8nSiOn C05t (tharyJ8 r8pr858nts contributK)ns payable by the group lo thg fund and amouni8d to £135,43912022- £108,340). At the )Ear end there was payments of £21.3[2o22- £23.6) due. 30. Operating lea58 comrnilrnents Al 31 March 2023 the Group wd the Charity had cc•nmitments to n*ke fure rninirnum le&8e paynents under non-¢anlIable operatyng leases as frdk)ws'. Group 2022 Charity 2V23 Ch8tity 2022 2023 Not later than 1 year Later than 1 year and not LHterlhan 5 years Later Ihan 5 years 519.336 386,250 1,545.rm)o 794,671 519.336 1.54&000 1,636.499 7.636,499 794.671 1,088,892 7,088,892 1724921 3.244.727 2.725,r21 3.244,727 The commitments identified atM)ve aitract VAT. The tharty is partially exernpt and therefore some of the VAT will be recovefable. The following188S8 payments hav8 b8en Tnised a5 an 8xpens8 in th8 St81ernwrt of Fin8wKial Activiti85'. rP 2023 Group Charity 2023 Charity 2Q22 2022 Operating lease rentals 521,919 559.075 521,919 559,075 31. Guarantees The Charily is incorporated as a company limited by ouaranlee haviro no share caprtal and, in accordance with the Memorandurn of Association. the trree MberS of the Charily are liab e to ctribUte up to £10 each in the event of the (xxnpany being wound up. Page41
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 Page 42
ACTIVE NATION UK LTD IA Company Urnlted by Guarart¢el NOTES TO THE FINANCIAL STATE14ENTS FOR THE YEAR ENDED 31 MARCH 2023 32. Related partytran88ctk•na Iconllnu8dl 32. Related party transactSons The charity h85 mad8 a provisi( of£90,10512022." £90,105) for th8 d8bt due frIMnth8 sub5Kli8ry cornpary. During th& yèar professional indemnity insurance coveriNJ the Tnths for up to t2,IMM),000 was in placè st a cost of £2,960 12022". £4,244). During the year. lated party transactions We identified ttheen the charty and Trusted Facilthes Management Limited. of which Shaun Tasker is a director and sharthdder. The vaue of tie transactions tjuring Ihe year total £222.21712022 - £199.6151. 33. Controllng party Contrcl of the tharity rests uttimatety with the Board of Tw51e8S. Page 43
This document was delivered using electronic communicalions and authenticaled in accordance with ihe registraT'S rules relaling to electronic forni. auihentication and manner of deli&'ery undeT section 1072 of the Companies Act 2006.