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← Crewkerne Leisure Management Limited

2025-03-31-accounts

COMPANY REGISTRATION NUMBER 3344871 CHARITY REGISTRATION NUMBER 1062281

CREWKERNE LEISURE MANAGEMENT LIMITED

COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS

31 MARCH 2025

Accura Audit Limited

Chartered Accountants & Statutory Auditor Langley House 53 Theobald Street Borehamwood WD6 4RT

CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2024

CONTENTS PAGES
Legal and administrative details 1
Trustees annual report 2 to 6
Independent auditor's report to the Trustees 7 to 11
Statement of Financial Activities 12
Statement of Financial Position 13 to 14
Statement of Cash Flows 15
Notes to the financial statements 16 to 25
The following pages do not form part of the financial statements
Detailed income and expenditure account 27 to 28

CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

LEGAL AND ADMINISTRATIVE DETAILS

Charity number 1062281
Company registration number
3344871
The board of management
and trustees C Saxby (resigned 31 March 2025)
M Best
D Pittard (resigned 12 November 2024)
N Sale (resigned 12 November 2024)
R Lewis
K Dawson
R Evans (appointed 25 May 2025)
Company secretary None
Registered office Henhayes
South Street
Crewkerne
Somerset
TA18 7LZ
Management personnel D Swinnerton (Centre Manager)
Auditor Accura Audit Limited
Chartered Accountants
& Statutory Auditor
Langley House
53 Theobald Street
Borehamwood
WD6 4RT
Bankers Lloyds Bank PLC
9 High Street
Yeovil
Somerset

- 1 -

CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

The trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements of the charity for the year ended 31 March 2025.

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown on page 1 of the financial statements. The company trades under the name of Crewkerne Aqua Centre.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The company was formed on 3 April 1997 and is governed by its Memorandum and Articles of Association. Registration as a charity was obtained on 9 May 1997. There are no subsidiary undertakings.

The financial statements have been prepared in accordance with the accounting policies set out in note 3 to the financial statements and comply with the charity’s memorandum and articles of association, the Charities Act 2011, the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102)).

The trustees who served the charity during the year were as follows: Claire Saxby (resigned 31 March 2025) Mike Best David Pittard (resigned 12 November 2024) Nicholas Sale (resigned 12 November 2024) Rhea Lewis Karen Dawson

In accordance with clause 47 of the Articles of Association, Rhea Lewis is due to retire by rotation and offer themselves for re-election at the AGM.

Article 51 of the company’s Articles of Associations states “Each of the following bodies or organisations ( or such body or organisation as may to the satisfaction of the Board succeed to and carry on the functions of any such body or organisation) may by notice in writing to the Secretary at any time and from time to time appoint (subject to the provisions of Article 56) and remove no more than 2 persons to be a Nominated Member:

Crewkerne Town Council South Somerset District Council A.C.C.E.S.S. Crewkerne Aqua Centre Charitable Trust

Subsequently, with the agreement of the appropriate organisations, the ability of South Somerset District Council, A.C.C.E.S.S. and Crewkerne Aqua Centre Charitable Trust to appoint and remove Nominated Members was rescinded. Only Crewkerne Town Council continues to have that right.

The board of management may also appoint any member of the company as a general member of the board and their appointment is then voted on at the AGM. Until otherwise determined by a General Meeting, the number of the Members of the Board shall not be less than 5 nor more than 16 of whom no more than 8 shall be General Members and no more than 8 may be Nominated Members

Trustee training is provided on an ad-hoc basis as required.

Day to day management tasks are delegated to the centre manager and overseen by the trustees, however all decisions affecting the charity are ultimately decided by the members of the board.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

No trustee has or had during the year or at the end of the year any beneficial interest in any material contract with the company, which was or is significant in relation to the company's business. There is an insurance policy providing liability cover for the trustees and officers of the company. The cost of this policy for the year is £525 (2024: £642). This amount is included with other insurance costs shown on page 25.

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

The company has no issued share capital and is limited by guarantee of its members, each member guarantees £1 on the winding up of the company. Each trustee is also a member of the company. In accordance with the provisions of the Health and Safety at Work Act 1974 the company has issued a written statement of its general policy with regard to health and safety at work of its employees and the organisational arrangements for carrying out that policy. The statement has been brought to the attention of the company's staff.

OBJECTIVES AND ACTIVITIES

The main objective and principal activity of the charity is the management of the Crewkerne Aqua Centre operating from Henhayes, South Street, Crewkerne, Somerset. The Centre includes a swimming pool, healthy lifestyle centre and fitness studio. There have been no significant changes in the objectives or activities of the charity during the year.

The charity aims to promote health, wellbeing and community participation by providing accessible opportunities for physical activity. Its services are designed to reduce barriers to exercise and support healthier lifestyles, furthering its legal purposes of advancing health and providing recreational facilities in the interests of social welfare.

To achieve these aims, the charity maintains high-quality facilities and delivers a range of activities including public swimming, swimming lessons, gym access, fitness classes, GP referral programmes and school block bookings. Success is assessed through participation levels, membership trends, service utilisation, operational performance and customer feedback. All key programmes continued during the year and contributed to improving community health and engagement.

In the short term, the charity focuses on the safe and effective operation of the Centre and maintaining strong participation across its activities. These annual objectives support the longer-term aim of sustaining accessible leisure provision for the community and promoting long-term health and wellbeing.

When planning the activities for the year, the trustees have considered the Charity Commission’s general guidance on public benefit and, in particular, the specific guidance for charities for the advancement of health and education. The trustees believe the activities carried out in the facilities clearly demonstrate the charity’s commitment to providing an identifiable public benefit and that access to this benefit is not restricted in any way.

The trustees have reviewed the company’s current trading position and believe that it has sufficient resources and is well placed to manage its business risks successfully. After making enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The trustees have also considered the effects of the continued rise in operational costs especially energy costs and the effect of the impact of the increase in the minimum wage. Steps have been taken to limit the impact on surplus and cash flow. Furthermore, forecasts have been prepared which factor in these impacts and demonstrate that the company is well placed to continue trading for more than 12 months from the date of approval of these

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

accounts, subject to any unforeseen restrictions again set down by the Government. Accordingly, the trustees continue to adopt the going concern basis in preparing the accounts.

The trustees are very grateful and extend their thanks to the volunteers who give freely of their time to assist the running of the Centre. During the year volunteers gave approximately 600 hours of time free of charge to the charity. The value of this time is not reflected in the Statement of Financial Activities but goes a long way to ensuring that the charity is able to run the Centre at a surplus and to securing the future of the Centre for the community.

ACHIEVEMENTS AND PERFORMANCE

During the year, the charity continued its main activities, including public swimming, swimming lessons, gym access, fitness classes and school block bookings, all supporting its objective of promoting community health and wellbeing. The Aqua Centre remained successful and pricecompetitive, helping to maintain strong participation. Incoming resources increased, reflecting stable membership levels and continued demand for swim-school and fitness activities. Key performance indicators such as attendance, membership trends and service utilisation remained broadly stable, demonstrating good progress against objectives. Overall, the charity continued to deliver accessible and inclusive opportunities for physical activity throughout the year.

FUTURE DEVELOPMENTS

The company remains committed to providing a first-class community leisure and health facilities in Crewkerne for the benefit of the town and district. The company will continue to monitor, assess and seek other opportunities which may present themselves, subject to these being commercially viable and in the interests of the community. From its opening in 1997 the company continues in its program of refurbishments and renewals at the Centre.

FINANCIAL REVIEW

Total incoming resources were £785,257 (2024: £756,597), with the majority of income arising from the fitness centre and swimming admission fees as disclosed further in note 17. Total resources expended were £836,565 (2024: £748,400), the major categories of expenditure being staff costs and premises running costs, as disclosed further in note 18.

Net funds therefore decreased by £51,308 (2024 increased by £8,197). Cash at bank and in hand at the year-end was £379,084 (2024: £394,354) as disclosed in note 8 on page 21.

The grant paid of £19,906 (2024: £19,906) as shown in note 4 is being funded out of operations. It is payable to Crewkerne Town Council in lieu of additional rent on the property from which the Crewkerne Aqua Centre is operated.

The reserves at the year-end stand at £562,929 all of which are unrestricted reserves.

The trustees’ policy on reserves is to maintain sufficient reserves for the charity to continue to meet its ongoing commitments and to provide financial stability and the means for the development of the principal activity. The charity does not aim to hold substantial reserves. However, the current level of reserves is sufficient to cover approximately 8 to 10 months of expenditure. The trustees consider the level of reserves shown on page 13 to be sufficient to meet the periodic maintenance of the pool, fitness centre and building and also the replacement and maintenance of machinery.

INVESTMENT POLICY

It is the trustees' policy to invest surplus cash funds in a high interest account whilst allowing access to those funds as necessary to meet expenditure as it arises.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

TAXATION STATUS

The charity is a registered charity, and the results of its normal activities are not liable to corporation tax.

RISK MANAGEMENT

The trustees have considered the major risks to which the charity is exposed. They have reviewed those risks and established systems and procedures to minimise those risks and manage them appropriately.

PLANS FOR FUTURE PERIODS

The charity plans to continue operating the Crewkerne Aqua Centre as a safe, accessible and affordable leisure facility, supporting its long-term aim of promoting community health and wellbeing. Key priorities for the coming year include:

INDEPENDENT AUDITORS

A resolution to reappoint Accura Audit Limited as auditors for the ensuing year and to authorise the trustees to fix their remuneration will be proposed at the annual general meeting.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees, who are also directors of Crewkerne Leisure Management Limited for the purposes of company law, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the special provisions applicable to companies entitled to the small companies’ exemptions.

Registered office: Henhayes South Street Crewkerne Somerset TA18 7LZ

Signed by order of the trustees

M BEST Trustee

Approved by the trustees on 9 January 2026

- 6 -

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CREWKERNE LEISURE MANAGEMENT LIMITED

Opinion

We have audited the financial statements of Crewkerne Leisure Management Limited (the 'charitable company') for the year ended 31 March 2025, which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CREWKERNE LEISURE MANAGEMENT LIMITED

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

- 8 -

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CREWKERNE LEISURE MANAGEMENT LIMITED

Fraud risk assessment

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations that could result in material misstatements in the financial statements. In identifying and assessing the risks of material misstatement arising from such irregularities, we performed a risk assessment that considered factors relevant to the Charity’s operations, governance structure and control environment.

As part of this assessment, our procedures included:

We obtained an understanding of the legal and regulatory framework applicable to the Charity through discussions with management and Trustees, drawing on our knowledge of the sector. This included laws and regulations that have a direct impact on the financial statements such as those relating to financial reporting and taxation as well as those that do not have a direct impact but are fundamental to the Charity’s ability to operate, including employment, health and safety, and data protection legislation.

In accordance with auditing standards, our procedures relating to laws and regulations that have an indirect effect on the financial statements were limited to enquiries of management and review of regulatory correspondence. An audit cannot be expected to detect non-compliance with such requirements where matters are not disclosed to us or where evidence is not apparent in the accounting records.

We communicated the relevant identified risks to the audit team and remained alert throughout the engagement to any indications of fraud or non-compliance with laws and regulations. Based on our risk assessment, we designed and performed audit procedures to address the risks identified, including:

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CREWKERNE LEISURE MANAGEMENT LIMITED

In addressing the risk of fraud, we considered the potential for management override of controls and the susceptibility of revenue recognition to manipulation. Our procedures included testing journal entries, reviewing significant accounting estimates for potential management bias and evaluating the commercial rationale for significant or unusual transactions. Fraud risks and areas susceptible to material misstatement were discussed among the engagement team to ensure an appropriate level of professional scepticism.

Laws and regulations - Identifying and responding to risks of material misstatement due to noncompliance with laws and regulations

Risk assessment

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements. For this risk assessment, matters considered included the following:

Risk communications

Our communication of laws and regulations risks was made throughout our team, and we remained alert to any indications of non-compliance throughout the audit.

Direct laws context and link to audit

The potential effect of laws and regulations on the financial statements varies considerably. The charitable company is subject to United Kingdom laws and regulations, such as the Companies Act 2006 and Charities Act 2011. Other relevant rules and regulations include the following:

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Most significant indirect law/ regulation areas

The charitable company is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or harm to the charitable company's ability to operate.

We identified the following area as those most likely to have such an effect:

- 10 -

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CREWKERNE LEISURE MANAGEMENT LIMITED

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of law or regulations is not disclosed to us or evident from relevant correspondence, our audit will not detect that breach.

We considered the extent to which the audit was considered capable of detecting irregularities: There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

Responsibility for the prevention and detection of fraud and for ensuring compliance with applicable laws and regulations rests with the Charity’s management and those charged with governance. Our audit procedures are designed to obtain reasonable, but not absolute, assurance that the financial statements are free from material misstatement, whether caused by fraud or error.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Brian M Leighton (Senior Statutory Auditor) for and on behalf of Accura Audit Limited (Statutory Auditor) Langley House 53 Theobald Street Borehamwood WD6 4RT

Date: 9 January 2026.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITES INCLUDING THE INCOME AND EXPENDITURE ACCOUNT

YEAR ENDED 31 MARCH 2025

Total Total
Unrestricted Restricted Funds Funds
Funds Funds 2025 2024
Note
£		 £ £ £
INCOMING RESOURCES
Incoming resources from generated
funds
Trading Activities 17
780,861		 - 780,861 752,243
Investment income 17
4,396		 - 4,396 4,354
Other incoming resources 17
-		 - - -
------------------------------------ ------------------------------------ ------------------------------------ ------------------------------------
TOTAL INCOMING RESOURCES 785,257 - 785,257 756,597
------------------------------------ ------------------------------------ ------------------------------------ -----------------------------------
RESOURCES EXPENDED
Cost of Trading Activities 18
773,616		 - 773,616 688,114
Other resources expended 18
55,296		 - 55,296 53,717
Governance costs 18
7,653		 - 7,653 6,569
------------------------------------ ------------------------------------ ----------------------------------- ------------------------------------
TOTAL RESOURCES EXPENDED 836,565 - 836,565 748,400
------------------------------------ ------------------------------------ ------------------------------------ -----------------------------------
NET (OUTGOING)/INCOMING
RESOURCES
Reconciliation of funds (51,308) - (51,308) 8,197
Balance brought forward at 1 April 2024 614,237 - 614,237 606,040
----------------------------------- ----------------------------------- ----------------------------------- -----------------------------------
Balance carried forward at 31 March 2025 562,929 - 562,929 614,237
============== ============== ============== ==============

The results for the year derive from continuing activities and there are no gains or losses other than those shown above.

The notes on pages 16 - 25 form part of these financial statements.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION

YEAR ENDED 31 MARCH 2025

2025 2024
Note £ £ £
FIXED ASSETS
Tangible assets 6 75,164 98,249
------------------------------- -------------------------------
CURRENT ASSETS
Stocks 11,484 12,695
Debtors 7 139,101 157,077
Cash at bank and in hand 8 379,084 394,354
------------------------------------ ------------------------------------
529,669 564,126
CREDITORS: Amounts falling due within one
year 9 41,904 48,138
------------------------------------ -----------------------------------
NET CURRENT ASSETS 487,765 515,988
----------------------------------- ------------------------ -----------
TOTAL ASSETS LESS CURRENT LIABILITIES 562,929 614,237
==================================== ====================================
FUNDS 11
Restricted - -
Unrestricted 562,929 614,237
------------------------------------ ------------------------------------
MEMBERS' FUNDS 562,929 614,237
==================================== ====================================

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

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The notes on pages 16 - 25 form part of these financial statements.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION

YEAR ENDED 31 MARCH 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies’ regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 9 January 2026 and were signed on its behalf by:

C SAXBY M BEST Trustee Trustee

Company Registration Number: 3344871 Charity Registration Number: 1062281

The notes on pages 16 - 25 form part of these financial statements.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

STATEMENT OF CASH FLOWS

YEAR ENDED 31 MARCH 2025

2025 2024
Note £ £
CASH FLOWS FROM OPERATING ACTIVITIES
Net (expenditure)/income (51,308) 8,197
Adjustments for:
Depreciation of tangible fixed assets 23,085 22,706
Interest received (4,396) (4,354)
Net losses on fixed assets - 86
Changes in:
Stocks 1,211 (1,117)
Trade and other debtors 17,976 19,097
Trade and other creditors (6,234) (5,030)
---------- -------------
Cash generated from operations (15,270) 43,939
---------- -------------
Net cash (used in)/provided by operating activities (19,666) 39,585
======= ========
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of tangible assets - (14,981)
Interest received 4,396 4,354
Disposal of tangible assets - -
---------- ----------
Net cash provided by/ (used in) investing activities 4,396 (10,627)
====== ======
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings - -
------------ ------------
Net cash used in financing activities - -
======== ========
Net (decrease)/increase in cash and cash equivalents (15,270) 28,957
Cash and cash equivalents at beginning of year 394,354 365,397
------------- -------------
Cash and cash equivalents at end of year 8 379,084 394,354
======== ========

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General Information

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office and principal place of business is Henhayes, South Street, Crewkerne, Somerset, TA18 7LZ

2. Statement of compliance

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are presented in sterling, which is the entity’s functional currency. All amounts have been rounded to the nearest pound unless otherwise stated. Consequently, figures may not sum precisely to the totals shown due to rounding.

Going concern

There are no material uncertainties about the charity’s ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting and Classification of Funds

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.

Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitments.

Taxation

The company is a registered charity. As such the company has obtained confirmation from HM Revenue and Customs that corporation tax is not payable on the profits generated.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

3. ACCOUNTING POLICIES (continued)

Incoming resources

The incoming resources shown in the Statement of Financial Activities represents amounts derived from ordinary activities receivable during the year. The charity is not registered for VAT.

Incoming resources are included gross and are accounted for once the charity has entitlement to the resources, it is certain that the resources will be received, and the monetary value of the incoming resources can be measured with sufficient reliability. Incoming resources received in respect of future periods are deferred to that period.

Activities income from trading includes all monies received for swimming and fitness centre admission fees and membership and other sundry sales relating to the principal activities of the charity, for instance the sale of swimming accessories. Monies are included in full in the Statement of Financial Activities when receivable.

Investment income includes bank interest and is included when receivable.

Other incoming resources include all income which cannot be allocated directly to the other income categories.

Grants’ receivable

All grants’ receivables are credited to the income and expenditure account as incoming resources. Where a restriction is placed on the use of the grant, the amount of the grant is included in restricted funds.

Resources expended

Resources expended are shown gross and are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accrual’s basis, and costs are allocated directly to the category to which they relate.

Costs of trading activities include all costs directly relating to the principal activities of the charity including the running costs of the building from which the charity operates, and the direct wages costs needed to enable the charity to operate.

Other resources expended comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include the preparation and examination of statutory accounts and legal advice to trustees on governance or constitutional matters.

Also included are all costs which cannot be allocated directly to the other expense categories. All support costs are included within ‘other resources expended’.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

3. ACCOUNTING POLICIES (continued)

Pension Costs

The company operates a defined contribution pension scheme for certain employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Pension costs are charged to the Statement of Financial Activities as incurred and represent contributions payable by the company.

Grants paid

Grants paid of a revenue nature are charged in the period of expenditure. Grants paid of a capital nature, to obtain future benefit for the company, are treated as prepaid expenditure and released to expenditure over the expected benefit period. The grant disclosed in note 16 is in lieu of additional rent for the use of the premises.

Volunteer costs

The charity keeps its wages costs to a minimum by using volunteers for some reception and administrative duties. The deemed cost of the volunteers’ services has not been calculated and included in the accounts as this would be very time consuming and not considered by the trustees to be cost effective or beneficial to the charity.

Value Added Tax

The charitable company is not registered for VAT. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Income Tax

The company is a registered charity. As such the company has obtained confirmation from HM Revenue & Customs that corporation tax is not payable on the profits generated.

Fund Accounting

Restricted funds are where grants or donations are received by the charity which must be used for a specific purpose, this income is shown as restricted funds and only the expenditure which is in accordance with the purpose of the grant is allocated against these funds.

Unrestricted funds are general accumulated funds of the charity that are not subject to any restrictions regarding their use and are available for application on the general purposes of the charity. These funds are used in achieving any of the objectives of the charity as decided by the trustees.

Fixed assets

All fixed assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses. Expenditure under £250 is charged to the Statement of Financial Activities in the year of purchase.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

3. ACCOUNTING POLICIES (continued)

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or group of assets

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost includes all costs of purchase and other costs incurred bringing the total to its present location and condition.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against income on a straight-line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. Financial assets and liabilities are measured at their transaction price unless otherwise stated. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The charity holds only basic financial instruments, primarily comprising cash, trade and other debtors, and trade and other creditors. No financial assets or liabilities are offset unless a legally enforceable right exists and the charity intends to settle on a net basis.

Cash and Cash equivalents

Cash and cash equivalents comprise bank balances including cash on hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less from the date of acquisition which are available on demand. These are carried in the Balance Sheet at face value.

4. GRANTS PAID

During the year a grant totalling £19,906 (2024: £19,906) was released to the Statement of Financial Activities. A grant, totalling £572,298, was originally paid to the Crewkerne Town Council in the 2005 and 2006 accounting years. A proportion is released annually to this company’s accounts over the lease term of the property.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

5. OPERATING SURPLUS

Operating surplus is stated after charging:

Operating surplus is stated after charging:
2025 2024
£ £
Depreciation of owned fixed assets 23,085 22,706
Loss on disposal of fixed assets - 86
Auditor’s fees – audit 3,000 2,500
Auditor's fees – other services - 4,767
========================== ==========================
TANGIBLE ASSETS
Leasehold Plant &
Property Machinery Total
£ £ £
COST
At 1 April 2024 115,615 163,662 279,277
Additions - - -
Disposals - - -
----------------------------- ------------------------------------ ------------------------------------
At 31 March 2025 115,615 163,662 279,277
=========================== ==================================== ====================================
DEPRECIATION
At 1 April 2024 65,887 115,141 181,028
Charge for the year 10,987 12,098 23,085
On disposals - - -
----------------------------- ------------------------------- -------------------------------
At 31 March 2025 76,874 127,239 204,113
=============================== =============================== ===============================
NET BOOK VALUE
At 31 March 2025 38,741 36,423 75,164
=============================== =============================== ===============================
At 31 March 2024 49,728 48,521 98,249
=============================== =============================== ===============================

6. TANGIBLE ASSETS

No property is shown in the Fixed Assets of the Company, as the property from which the Company operates is owned by Crewkerne Town Council. Rent is paid at the agreed rate of £1,200 per annum.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

7. DEBTORS

DEBTORS
2025 2024
£ £
Trade debtors 3,770 2,478
Other debtors 200 800
Prepayments and accrued income 135,131 153,799
------------------------------------ ------------------------------------
139,101 157,077
==================================== ====================================

The debtors above include the following amounts falling due after more than one year:

2025 2024
£ £
Prepayments and accrued income 99,530 119,436
==================================== ====================================
**8. ** CASH EQUIVALENTS
Cash equivalents comprise the following:
2025 2024
£ £
Cash at bank and in hand 379,084 394,354
==================================== ====================================
9. CREDITORS: Amounts falling due within one year
2025 2024
£ £
Trade creditors 5,472 4,755
PAYE & NIC 4,841 5,213
Accruals and deferred income 31,591 38,170
------------------------------------- ------------------------------------
41,904 48,138
==================================== ====================================

10 . COMMITMENTS UNDER OPERATING LEASES

At 31 March 2025 the charity had aggregate commitments under non-cancellable operating leases as set out below.

2025 2024
£ £
Operating leases which expire:
Less than 1 year 30,483 30,483
Later than 1 year and not later than 5 years 41,404 70,687
After 5 years 4,800 6,000
=============================== ===============================

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

11 . ANALYSIS OF NET ASSETS (between restricted and unrestricted funds)

Tangible
Fixed Other Net
Assets Assets Total
£ £ £
Unrestricted Funds 75,164 487,765 562,929
Restricted funds - - -
----------------------------- ------------------------------------ ------------------------------------
75,164 487,765 562,929
============================= ==================================== ====================================
MOVEMENT IN FUNDS
Funds at Net movements Funds at
1.4.24 In funds 31.3.25
£ £ £
Unrestricted Funds 614,237 (51,308) 562,929
Restricted funds - - -
----------------------------- ------------------------------------ ------------------------------------
614,237 (51,308) 562,929
============================= ==================================== ====================================
Net movements in funds, included in the above are as follows:
Incoming
Resources		 Movement
Resources
Expended		 In funds
£ £ £
Unrestricted Funds 785,257 (836,565) (51,308)
Restricted funds - - -
----------------------------- ------------------------------------ ------------------------------------
785,257 836,565 (51,308)
============================= ==================================== ====================================
Comparative net movements in funds
Funds at
Net movements		 Funds at
1.4.23
In funds		 31.3.24
£ £ £
Unrestricted Funds 606,040 8,197 614,237
Restricted funds - - -
----------------------------- ------------------------------------ ------------------------------------
606,040 8,197 614,237
============================= ==================================== ====================================
Comparative net movements in funds, included in the above are as follows
Incoming
Resources		 Movement
Resources
Expended		 In funds
£ £ £
Unrestricted Funds 756,597 (748,400) 8,197
Restricted funds - - -
----------------------------- ------------------------------------ ------------------------------------
756,597 (748,400) 8,197
============================= ==================================== ====================================

12. MOVEMENT IN FUNDS

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

12. MOVEMENT IN FUNDS (continued)

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

Funds at Funds at
1.4.23 Other net assets 31.03.25
£ £ £
Unrestricted Funds 606,040 (43,111) 562,929
Restricted funds - - -
------------------------------------ ------------------------------------ ------------------------------------
606,040 (43,111) 562,929
=================================== ==================================== ====================================

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

in the above are as follows:
Incoming Resources Movement
Resources Expended In funds
£ £ £
Unrestricted Funds 1,541,854 (1,584,965) (43,111)
Restricted funds - - -
-------------------------------------------- -------------------------------------------- ------------------------------------
1,541,854 (1,584,965) (43,111)
=========================================== =========================================== ====================================

13 . RELATED PARTY TRANSACTIONS

During the year the charity paid K Dawson Net £8,295 (2024: £7,497) for her services instructing in the gym studio. K Dawson is a trustee of the charity. The services were provided at arms’ length and are considered to represent best value. The amount outstanding to K Dawson at the year-end is £963 (2024: £588).

Indemnity insurance is held by the charity in respect of, and on behalf of, the trustees. Premiums paid in the year amount to £525 (2024: £642).

No remuneration or expenses have been paid to the trustees during the year.

14 . COMPANY LIMITED BY GUARANTEE

The company was incorporated as a company limited by guarantee and has no share capital. The guarantee to the company is £1 per member on the winding up of the company. At 31 March 2025 the company had 30 members and the total amount guaranteed is therefore £30.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

15. STAFF COSTS
2025 2024
£ £
Wages and salaries 373,208 328,600
Social security costs 16,789 19,394
Pension costs 4,765 4,946
------------------------------------------------------- -----------------------------------------------------
394,762 352,940
================ ===============

The average number of employees in the year, many of whom are part time, was 22 (2024: 24). No employees earned in excess of £60,000.

None of the trustees received any remuneration in the year for their work as a trustee

16. AUDITORS REMUNERATION

2025 2025 2024
£ £
Fees payable for the audit of the financial statements 3,000 2,500
17. INCOMING RESOURCES
Unrestricted Restricted Total Total
Funds Funds 2025 2024
£ £
Income from Trading Activities
Admission fees and sundry sales 416,868 - 416,868 403,571
Direct debit membership fees 342,395 - 342,395 327,395
Swim club and swim school 21,598 - 21,598 21,277
-------------------------------------- ----------- -------------------------------------- ------------------------------------
780,861 - 780,861 752,243
-------------------------------------- ----------- -------------------------------------- --------------------------------------
Investment income
Bank interest receivable 4,396 - 4,396 4,354
----------------------------------- ----------- ----------------------------------- -----------------------------------
Other incoming resources
Membership fees - - - -
Grants receivable - - - -
----------------------------------- --------------------------- ----------------------------------- -----------------------------------
- - - -
----------------------------------- -------------------------- ----------------------------------- -----------------------------------
785,257 - 785,257 756,597
================ =========== ================ ===============

Incoming resources of £10,538 (2024: £16,118) have been deferred in the year. This represents the annual membership, swim school and 12 for 10 sessions income received in advance.

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CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

18 . RESOURCES EXPENDED

RESOURCES EXPENDED
Unrestricted Restricted Total Total
Funds Funds 2025 2024
£ £
Cost of trading activities
Purchases 30,712 - 30,712 31,735
Studio classes 25,700 - 25,700 25,155
Grants paid to Crewkerne Town Council 19,906 - 19,906 19,906
Light, heat and power 107,454 - 107,454 99,765
Water rates 23,724 - 23,724 21,757
Rent 1,200 - 1,200 1,200
Rates 4,286 - 4,286 3,312
Direct wages and NIC 389,997 - 389,997 347,994
Pension Contributions 4,765 - 4,765 4,946
Hire of plant and machinery 34,982 - 34,982 32,033
Insurance 10,280 - 10,280 10,809
Repairs and maintenance 80,197 - 80,197 58,645
Equipment renewals 7,811 - 7,811 1,474
Staff training 6,347 - 6,347 8,629
Staff uniforms 2,079 - 2,079 1,203
Subscriptions 16,560 - 16,560 15,376
Travel and subsistence 1,284 - 1,284 -
Advertising 6,332 - 6,332 4,175
-------------------------------------- -------------------------------------- -------------------------------------- --------------------------------------
773,616 - 773,616 688,114
-------------------------------------- -------------------------------------- -------------------------------------- --------------------------------------
Other resources expended
Telephone 2,253 - 2,253 3,098
Stationery, printing and postage 4,624 - 4,624 6,107
Sundry expenses 2,032 - 2,032 1,220
Legal and professional costs 16,640 - 16,640 15,733
Accountancy fees 6,662 - 6,662 4,767
Depreciation 23,085 - 23,085 22,706
Loss on disposal of assets - - - 86
----------------------------------- ----------------------------------- ----------------------------------- -----------------------------------
55,296 - 55,296 53,717
----------------------------------- ----------------------------------- ----------------------------------- -----------------------------------
Governance costs
Auditors Fees 3,000 - 3,000 2,500
Bank charges 4,653 - 4,653 4,069
----------------------------------- ----------------------------------- ----------------------------------- -----------------------------------
7,653 - 7,653 6,569
----------------------------------- ----------------------------------- ----------------------------------- ----------------------------------
836,565 - 836,565 748,400
=============== =============== =============== ===============

- 25 -

CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2025

The following pages do not form part of the statutory financial statements which are the subject of the independent auditor's report on pages 7 to 11.

- 26 -

CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

DETAILED INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2025

2025 2024
£ £
TURNOVER
Income from principal activities 780,861 752,243
Membership fees - -
------------------------------------ ------------------------------------
780,861 752,243
------------------------------------ ------------------------------------
COST OF SALES
Opening stock 12,695 11,578
Food & drink purchases 3,625 3,599
Swimming & gym accessories 10,501 13,494
Chemicals and cleaning materials 15,375 15,759
Studio class costs 25,700 25,155
Grants paid 19,906 19,906
Direct wages 373,208 328,600
NIC on direct labour 16,789 19,394
Pension Contributions 4,765 4,946
Staff training 6,347 8,629
Staff uniforms 2,079 1,203
Hire of plant and machinery 34,982 32,033
Repairs and maintenance 80,197 58,645
Equipment renewals 7,811 1,474
------------------------------------ ------------------------------------
613,980 544,415
Closing stock (11,484) (12,695)
------------------------------------ ------------------------------------
602,496 531,720
------------------------------------ ------------------------------------
GROSS SURPLUS 178,365 220,523
------------------------------------ ------------------------------------
OVERHEADS
Light heat and power 107,454 99,765
Water Rates 23,724 21,757
Rent 1,200 1,200
Rates 4,286 3,312
Insurance 10,280 10,809
Travel and subsistence 1,284 -
Telephone 2,253 3,098
Stationery, printing and postage 4,624 6,107
Sundry expenses 2,032 1,220
Subscriptions 16,560 15,376
Advertising 6,332 4,175
Legal and professional fees 16,640 15,733
Accountancy fees 6,662 4,767
Auditors’ remuneration 3,000 2,500
------------------------------------ ------------------------------------
Carried forward 206,331 189,819

- 27 -

CREWKERNE LEISURE MANAGEMENT LIMITED COMPANY LIMITED BY GUARANTEE

DETAILED INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2025

Brought forward 206,331 189,819
Depreciation 23,085 22,706
Deficit on disposal of fixed assets - 86
Bank charges 4,653 4,069
------------------------------------ ------------------------------------
234,069 216,680
------------------------------------ ------------------------------------
OPERATING (DEFICIT)/SURPLUS (55,704) 3,845
Bank interest receivable 4,396 4,354
------------------------------------ -------------------------------
(DEFICIT)/SURPLUS ON ORDINARY ACTIVITIES (51,308) 8,197
==================================== ===============================

- 28 -