Registered number: 03389636 Charity number: 1074671
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
| CONTENTS | |
|---|---|
| Page | |
| Trustees' Report | 1 - 6 |
| Trustees' Responsibilities Statement | 7 |
| Independent Examiner's Report | 8 - 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 - 12 |
| Statement of Cash Flows | 13 |
| Notes to the Financial Statements | 14 - 36 |
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their Annual Report together with the financial statements of the Company for the year ended 31 March 2022. The Annual Report serves the purpose of both a Trustees Report and a Directors Report under company law. The Trustees confirm that the Annual Report and the financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable companies governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report & Directors Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.
The object and principal activity of the company is the provision of adventure, education and leisure activities to the residents of Leicestershire and surrounding areas. Our approach to fulfilling this object remains unchanged from the previous year. The full range of facilities offered can be seen on our website: www.lopc.co.uk.
b. Public benefit statement
In planning our activities for the year we kept in mind the Charity Commission guidance on public benefit at our trustees meetings.
LOPC has a mission to provide adventurous activity experiences designed to stimulate, educate & motivate young people & others at affordable prices, in a safe challenging environment.
LOPC is developing the facilities, activities and programs to meet the local need as identified through local strategies and feedback. This enables LOPC to offer opportunities for local people to engage in exciting and adventurous activities, thereby creating a sustainable local community facility for all people of all ages.
Page 1
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Achievements and performance
a. Main achievements of the Company
Coronavirus pandemic restrictions remained in force for residential Centre’s at the start of the financial year. Whilst these restrictions placed significant pressure on other Centre’s around the UK, as a non-residential Centre the LOPC was able to adapt its services to support a return to operating session for various user groups.
Whilst some funding was still sourced in the year from grants, legacies and public donations, income from this source reduced by over 65% in the year as the Centre started to return to the position of being self-sufficient in terms of supporting its costs and contribute to the future success of the business
For the early part of 2021 the Centre still ran a reduced program of activities, with many schools unable to travel due to school travel restrictions. Whilst many Outdoor Centre’s throughout the UK were still unable to open until the Autumn for residential visits, the LOPC was able to operate day visits for many of the local schools who were able to walk to the Centre. The LOPC also supported many NCS (National Citizen Service) groups over the Autumn, whilst maintaining the Home Education groups. The unique facilities offered by the LOPC to the community have proven to be a valuable asset to the physical and mental well-being of those participants.
Investing in the future of the Centre, during the past year the LOPC have refreshed Reception & Welcome signage, we purchased new Open Canoes, Sit on top kayaks and SUP’s, re-felted the wheelchair abseil and converted much of the remaining lighting in the Centre to LED lighting. Some of the large Ash Trees on site were pruned back, with the shavings from the branches being spread across the bushcraft area among some of the site improvements.
We continue to work with NGB’s to update courses and ensure they are relevant and current for the sector.
Income from the Charitable Activities provided for the year 2021-22 increased quite significantly as the Centre started to recover from post-pandemic restrictions. Working to support education and community groups, enabling provision of activities in an ‘Outdoor’ setting has enabled the LOPC to generate £646k in income, demonstrating the demand for services even when provision is still slightly restricted.
Expenditure naturally increased for the year, owing to greater staff expenditure based on 2020-21. Although there were once again increases in the National Living Wage, these costs have been absorbed in the increase in income levels for the year.
The LOPC recruited three new apprentices on the Institute of Outdoor Learning (IOL) ‘Outdoor Instructor Apprenticeship Scheme’ in February 2021. The Centre continues to invest in the development of young people.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. This consideration has taken into account the expected future impact of the National economy on the charity as far as it can be determined and the Trustees remain satisfied that the going concern principle remains appropriate.
Page 2
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
b. Reserves policy
The Statement of Financial Activities shows a net surplus of £148,856 (2021: net surplus of £99,209) and reserves of £534,486 (2021: £385,630).
Forecasts are for a decline in reserves due to the unstable international picture, notable the ongoing impact of the global Covid pandemic, the war in Ukraine and its effect on energy markets and other commodities and political uncertainty in the UK. Cash reserves from 2021-2022 are more than was anticipated, which will provide the Charity greater stability in the face of the unstable global economy. Future investment may need to be drawn upon to support future expenditure at the Centre but at this time that is uncertain. The directors ultimately wish to maintain unrestricted reserves of 3-6 months expenditure, but the current climate may impact the ability to achieve this in the short-term.
Free reserves represents unrestricted funds of £293,609 less tangible and intangible assets of £213. At the year end, the company had free reserves of £293,396 (2021: £196,123) which equates to approximately 6 months.
c. Investments policy
The Directors have considered the way in which the company invests its funds and considers the most appropriate approach is for the funds to be held in bank accounts where the money is readily available.
d. Principal risks and uncertainties
The Directors have again discussed all the major risks to the Company during the year. They have developed systems and strategies to control these risks and mitigate any effect they may have on the Centre. The Directors will continue to review these on a regular basis.
At present time the greatest risk is from the uncertainty of both international and domestic markets and its future consequences which at present are unknown. There are ongoing risks from flooding and although these are an annual concern, being based on a flood plain, to date we have been able to continue to operate with a reduced capacity in flood conditions.
Structure, governance and management
a. Constitution
Leicester Outdoor Pursuits Centre is registered as a charitable company limited by guarantee and was set up by a Trust deed.
The company was incorporated on 20th June 1997 as a company limited by guarantee and is therefore governed by the Memorandum and Articles of Association. Charitable status was granted on 16th March 1999. Prior to incorporation, Leicester Outdoor Pursuits Centre was operating as a charity within the CK Trust.
In the event of the company being wound up members are required to contribute an amount not exceeding £1.
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LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Structure, governance and management (continued)
b. Methods of appointment or election of Trustees and Directors
The management of the Company is the responsibility of the Trustees who are elected and coopted under the terms of the Trust deed.
Appointment of the directors is governed by the Memorandum and Articles of Association of the company. The directors are authorised to appoint new directors by resolution to fill vacancies arising during the year.
All the Directors of the company are Trustees of the Charity.
The Trustees thank Karen Hampton for her efforts in accurately recording the minutes of the AGM and Trustee meetings throughout the year.
All directors complete an “in-house induction” and attend “Trustee’s Responsibilities” and “Safeguarding Children” courses. Additional specialist subjects are attended as required. Over the past year the Trustees have been involved in both EDI (Equality, Diversity and Inclusion) Training and Safeguarding Training.
c. Organisational structure
The directors meet regularly during the year and are responsible for the strategic direction and policy of the company. The directors delegate the day to day running of the Centre to the Centre Manager.
d. Financial risk management
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that the systems and procedures are in place to mitigate exposure to the major risks.
e. Trustees' indemnities
As permitted under the company’s Articles of Association, the company has maintained insurance amounting to £840 in respect of directors’ and officers’ liabilities incurred in connection with the discharge of their duties.
The insurance is for a level of £500,000.
f. Acknowledgements
The Trustees would like to thank all of the Centre staff and volunteers who continue to put in an enormous amount of effort to make the LOPC a Community Centre of choice for the people of Leicester and surrounding area. Volunteers have devoted many hours at the Centre to make sure that the activities run smoothly and the Centre functions effectively.
g. Financial risk management
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Page 4
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Plans for future periods
LOPC will remain committed to continual development in order to become a Centre of choice for its customers, staff and volunteers.
• The Centre has been invited to apply to become a delivery provider for the HAF (Holiday Activity Fund) Scheme for the Holiday Scheme. At limited times of the year, accessing this provision may help to provide access to the facilities we offer to those who would not normally be able to access our services, but may also provide opportunity for increased growth.
• The Outdoor Instructor Apprenticeship Scheme has now been running for the past 3 years at the LOPC and has helped to support the educational development of people aspiring to become future Outdoor Instructors. The Centre will continue to offer Apprentice positions for the foreseeable future.
• As numbers of participants increase, so does the need for more equipment. The Centre will continue to invest in new equipment, as well as replacing much of the aging equipment to help the Centre offer a more premium experience to visitors with newer equipment available for use.
• A replacement fund has be set up to provide contribution to the financial resources for the replacement of the high ropes course in the future as income and finances permit. The Centre will continue to add to this fund as finances permit.
• The Centre still wish to install a drainage pump into the Cellar, but have started a far more ambitious plan, to look at the possibility/feasibility of demolishing the existing building an building a new bespoke Outdoor Centre in c.8-10 years’ time.
• In the short term, the Centre will look at other projects that can give the Centre a bit of a face-lift … i.e. new signage and redevelopment of the Air-rifle range.
Reference and administrative details of the Company, its trustees and advisers
| Trustees | Mrs A Barwell, Chair |
|---|---|
| Mrs K Cane, Vice Chair | |
| Mr D K Rumsby, Treasurer (resigned 27 September 2021) | |
| Mr A D Parker | |
| Mr R Tinley (resigned 1 November 2021) | |
| Mrs R S Paterson | |
| Mr K R Hampton | |
| Mr K Butcher (resigned 1 November 2021) | |
| Mr A Viner | |
| AdvisorsMr H Jeffs Mr K R Hampton Company registered number 03389636 Charity registered number 1074671 |
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LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
| Registered office | Redhill Circle |
|---|---|
| Loughborough Road | |
| Leicester | |
| LE4 5PN | |
| Company secretary | Mr S Fraser |
| Accountants | MHA MacIntyre Hudson |
| Chartered Accountants | |
| 11 Merus Court | |
| Meridian Business Park | |
| Leicester | |
| LE19 1RJ | |
| Bankers | NatWest Bank |
| Leicester | |
| LE3 0TQ | |
| CAF Bank Limited | |
| 25 Kings Hill Avenue | |
| West Malling Kings Hill | |
| Kent | |
| ME19 4JQ |
Approved by order of the members of the Board of Trustees and signed on their behalf by:
................................................ Mrs A Barwell Chair of Trustees
Date: 9 November 2022
Page 6
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022
The Trustees (who are directors of the charitable company 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on its behalf by:
................................................ Mrs A Barwell Chair of Trustees
Date: 9 November 2022
Page 7
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022
Independent Examiner's Report to the Trustees of Leicester Outdoor Pursuits Centre ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and Basis of Report
As the Trustees of the Company (and its Directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Page 8
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Helen Blundell LLB FCA FCIE DChA
MHA MacIntyre Hudson
Chartered Accountants 11 Merus Court Meridian Business Park Leicester LE19 1RJ
Date: 13 November 2022
Page 9
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Other income 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net income/(expenditure ) Transfers between funds 15 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2022 £ 84,140 - - - 84,140 27,862 27,862 56,278 (22,708) 33,570 17,844 33,570 51,414 |
Fixed asset fund 2022 £ - - - - - 27,671 27,671 (27,671) 49,426 21,755 167,708 21,755 189,463 |
Unrestricted funds 2022 £ 28,054 527,850 131 5,971 562,006 441,757 441,757 120,249 (26,718) 93,531 200,078 93,531 293,609 |
Total funds 2022 £ 112,194 527,850 131 5,971 646,146 497,290 497,290 148,856 - 148,856 385,630 148,856 534,486 |
Total funds 2021 £ 347,995 118,306 36 6,911 |
|---|---|---|---|---|---|
| 473,248 | |||||
| 374,039 | |||||
| 374,039 | |||||
| 99,209 - |
|||||
| 99,209 | |||||
| 286,421 99,209 |
|||||
| 385,630 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 14 to 36 form part of these financial statements.
Page 10
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee) REGISTERED NUMBER: 03389636
BALANCE SHEET AS AT 31 MARCH 2022
| Note Fixed assets Intangible assets 11 Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand 18 Creditors: amounts falling due within one year 14 Net current assets Total net assets Charity funds Restricted funds: Restricted funds 15 Fixed asset fund 15 Total restricted funds 15 Unrestricted funds 15 Total funds |
21,049 367,552 388,601 (43,791) 51,414 189,463 |
2022 £ 213 189,463 189,676 344,810 534,486 240,877 293,609 534,486 |
25,136 222,976 248,112 (34,145) 17,844 167,708 |
2021 £ 3,955 167,708 |
|---|---|---|---|---|
| 171,663 213,967 |
||||
| 385,630 | ||||
| 185,552 200,078 |
||||
| 385,630 |
Page 11
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee) REGISTERED NUMBER: 03389636
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2022
At the start of the year commencing 1 April 2021, the Treasurer for the Company was Mr D K Rumsby. The Treasurer died quite suddenly in September 2021, leaving the Company without a designated person responsible in the position of Treasurer. For the year ended 31 March 2022, the accounts have been prepared in collaboration with the Centre Manager, supported by the independent accountants appointed by the Trustees.
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Mr S J Fraser
Centre Manager (in absence of a Treasurer)
Date: 9 November 2022
The notes on pages 14 to 36 form part of these financial statements.
Page 12
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022
| Note Cash flows from operating activities Net cash used in operating activities 17 Cash flows from investing activities Payments to acquire tangible fixed assets 12 Interest received 5 Net cash used in investing activities Change in cash and cash equivalents in the year 19 Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 18 The notes on pages 14 to 36 form part of these financial statements |
2022 £ 193,871 (49,426) 131 (49,295) 144,576 222,976 367,552 |
2021 £ 147,051 (29,681) 36 (29,645) 117,406 105,570 222,976 |
|---|---|---|
Page 13
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. General information
The Leicester Outdoor Pursuit Centre is a charitable company limited by guarantee and registered in England and Wales with Companies House (ref 03389636) and the Charity Commission (ref 1074671). The registered office is Redhill Circle, Loughborough Road, Leicester, LE4 5PN. The principal activity of the charity is set out in the Trustees' Report.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Leicester Outdoor Pursuits Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Charity's functional and presentational currency is British Pounds Sterling (£) and is rounded to the nearest pound.
2.2 Going concern
The financial statements have been prepared on a going concern basis. The Trustees have considered the relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.
Based on these assessments and having regard to the resources available to the entity, the Trustees have concluded that it is appropriate to continue to adopt the going concern basis in preparing the Trustees' Report and accounts.
Page 14
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies (continued)
2.3 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For donations to be recognised the charity will have been notified of the amounts and the settlement date. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfillment of those conditions is within the control of the charity and it is probable that they will be fulfulled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees' Annual Report.
Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt of if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.
Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occured.
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Investment income is earned through holding assets for investment purposes. It includes dividends, interest and rent. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity's right to receive payment is establised.
Other income includes income such as gains on disposals of tangible fixed assets.
Page 15
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies (continued)
2.3 Income (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Taxation
The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 16
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies (continued)
2.7 Intangible assets and amortisation
Intangible assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Website
- % 6 years
Provisions are made for impairment as required.
2.8 Tangible fixed assets and depreciation
Tangible fixed assets costing more than £500, are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
- Property improvements 5% straight line - Fixtures and fittings 33% straight line - Activities equipment 20% or 33% straight line
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 17
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies (continued)
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.12 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Operating leases
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.
2.14 Pensions
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
2.15 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 18
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
3. Donations and legacies
| Julia and Hans Rausing Grant Job retention scheme grant Bailey Charity Grant Kata Kanus and Decals A-Frame Grant LRCF Donations Other grants Total 2022 |
Restricted funds 2022 £ 56,000 - 10,000 5,525 4,204 4,126 510 3,775 84,140 |
Unrestricted funds 2022 £ - 15,860 - - - - 2,602 9,592 28,054 |
Total funds 2022 £ 56,000 15,860 10,000 5,525 4,204 4,126 3,112 13,367 |
|---|---|---|---|
| 112,194 |
Included in grants were several Covid related grants totalling £15,860 which are government grants.
There are no unfulfilled conditions relating to income recognised.
| DCMS Funding Job retention scheme grant Covid-19 small business grant Covid-19 discretionary grant Local restrictions support grant Donations Other grants Total 2021 |
Restricted funds 2021 £ 100,000 - - - - 24,862 - 124,862 |
Unrestricted funds 2021 £ - 162,105 10,000 11,239 3,000 11,053 25,736 223,133 |
Total funds 2021 £ 100,000 162,105 10,000 11,239 3,000 35,915 25,736 |
|---|---|---|---|
| 347,995 |
Included in grants were several covid related grants totalling £286,344 which are government grants.
There are no unfulfilled conditions relating to income recognised.
Page 19
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| 4. Income from charitable activities Centre activities Centre activities |
Unrestricted funds 2022 £ 527,850 Unrestricted funds 2021 £ 118,306 |
Total funds 2022 £ 527,850 |
|---|---|---|
| Total funds 2021 £ 118,306 |
Page 20
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
5. Investment income
| Bank interest received Bank interest received Other incoming resources Other income Other income |
Unrestricted funds 2022 £ 131 Unrestricted funds 2021 £ 36 Unrestricted funds 2022 £ 5,971 Unrestricted funds 2021 £ 6,911 |
Total funds 2022 £ 131 |
|---|---|---|
| Total funds 2021 £ 36 |
||
| Total funds 2022 £ 5,971 Total funds 2021 £ 6,911 |
6. Other incoming resources
Page 21
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
7. Analysis of expenditure on charitable activities
Summary by fund type
| Centre activities Administration Total 2022 Centre activities Administration Total 2021 |
Restricted funds 2022 £ 54,975 558 55,533 Restricted funds 2021 £ 113,036 2,448 115,484 |
Unrestricted funds 2022 £ 269,741 172,016 441,757 Unrestricted funds 2021 £ 109,288 149,267 258,555 |
Total funds 2022 £ 324,716 172,574 |
|---|---|---|---|
| 497,290 | |||
| Total funds 2021 £ 222,324 151,715 |
|||
| 374,039 |
8. Analysis of expenditure by activities
| Centre activities Administration Total 2022 |
Direct costs 2022 £ 281,727 167,090 448,817 |
Support costs 2022 £ 42,989 5,484 48,473 |
Total funds 2022 £ 324,716 172,574 |
|---|---|---|---|
| 497,290 |
Page 22
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
8. Analysis of expenditure by activities (continued)
| Centre activities Administration Total 2021 |
Direct costs 2021 £ 189,942 146,176 336,118 |
Support costs 2021 £ 32,382 5,539 37,921 |
Total funds 2021 £ 222,324 151,715 |
|---|---|---|---|
| 374,039 |
Analysis of direct costs
| Staff costs Freelance instructors, tutors, advisers and interns Training Uniforms Legal and professional Transport Repairs and maintenance Site maintenance General office expenses Activity delivery costs Advertising & publicity Licences & memberships Inspection fees Insurance Bank charges Sundry Refreshments Shop Total 2022 |
Centre activities 2022 £ 178,606 9,841 2,584 4,116 3,595 3,815 4,281 7,509 - 40,458 1,361 3,371 2,355 9,010 4,700 338 3,962 1,825 281,727 |
Admin costs 2022 £ 160,105 - - - - - - - 6,985 - - - - - - - - - 167,090 |
Total funds 2022 £ 338,711 9,841 2,584 4,116 3,595 3,815 4,281 7,509 6,985 40,458 1,361 3,371 2,355 9,010 4,700 338 3,962 1,825 |
|---|---|---|---|
| 448,817 |
Page 23
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
8. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Freelance instructors, tutors, advisers and interns Training Uniforms Legal and professional Transport Repairs and maintenance Site maintenance General office expenses Activity delivery costs Advertising & publicity Licences & memberships Inspection fees Insurance Bank charges Refreshments Shop Bad debts Total 2021 Analysis of support costs Governance costs Premises costs Depreciation Amortisation Total 2022 |
Centre activities 2021 £ 148,927 3,594 219 1,057 1,344 (1,256) 4,186 1,572 - 19,363 971 1,346 1,109 5,103 1,492 60 1,180 (325) 189,942 Centre activities 2022 £ - 11,576 27,671 3,742 42,989 |
Admin costs 2021 £ 140,789 - - - - - - - 5,387 - - - - - - - - - 146,176 Admin costs 2022 £ 4,198 1,286 - - 5,484 |
Total funds 2021 £ 289,716 3,594 219 1,057 1,344 (1,256) 4,186 1,572 5,387 19,363 971 1,346 1,109 5,103 1,492 60 1,180 (325) 336,118 Total funds 2022 £ 4,198 12,862 27,671 3,742 48,473 |
|---|---|---|---|
Page 24
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
8. Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
| Centre activities 2021 £ Governance - Premises costs 8,073 Depreciation 20,567 Amortisation 3,742 Total 2021 32,382 9. Governance costs Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts Fees payable to the Company's accountant for VAT review Insurance |
Admin costs 2021 £ 4,642 897 - - 5,539 2022 £ 3,623 - 575 |
Total funds 2021 £ 4,642 8,970 20,567 3,742 |
|---|---|---|
| 37,921 | ||
| 2021 £ 3,500 612 530 |
10. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes Freelance instructors, tutors, advisers and interns |
2022 £ 319,323 14,647 4,741 9,841 348,552 |
2021 £ 274,604 10,869 4,243 3,594 |
|---|---|---|
| 293,310 |
Page 25
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
10. Staff costs (continued)
The average number of persons employed by the Company, excluding freelance instructors, tutors, advisers and interims, during the year was as follows:
| Employees Trustees |
2022 No. 29 9 38 |
2021 No. 22 8 |
|---|---|---|
| 30 |
No employee received remuneration amounting to more than £60,000 in either year.
The charity considers its key management personnel to comprise of Stuart Fraser, Chris Murnin, David Robinson, Katy Groom, Tabbitha Murray-English and Steven Vincent. The total amount paid to key management personnel is £135,463 (2021: £108,316).
The Trustees neither received nor waived any remuneration during the year (2021: £Nil).
The Trustees had no expenses reimbursed during the year (2021: £Nil).
Further related party transactions are included in note 24.
Page 26
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| 11. Intangible assets Cost At 1 April 2021 At 31 March 2022 Amortisation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Website £ 22,453 |
|---|---|
| 22,453 | |
| 18,498 3,742 |
|
| 22,240 | |
| 213 | |
| 3,955 |
Page 27
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
12. Tangible fixed assets
| Cost or valuation At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Property improvements £ 193,190 9,956 203,146 52,136 9,842 61,978 141,168 141,054 |
Fixtures and fittings £ 24,424 15,644 40,068 16,409 5,578 21,987 18,081 8,015 |
Activities equipment £ 110,631 23,826 134,457 91,992 12,251 104,243 30,214 18,639 |
Total £ 328,245 49,426 |
|---|---|---|---|---|
| 377,671 | ||||
| 160,537 27,671 |
||||
| 188,208 | ||||
| 189,463 | ||||
| 167,708 |
Capital grants received until 31 March 2020 were set off in full against the cost of the tangible fixed assets in the balance sheet in the year of acquisition of the asset.
13. Debtors
| Prepayments and accrued income | 2022 £ 21,049 21,049 |
2021 £ 25,136 |
|---|---|---|
| 25,136 |
Page 28
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
14. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income Deferred income at 1 April Resources deferred during the year Amounts released from previous periods Deferred income at 31 March |
2022 £ 3,792 39,999 43,791 2022 £ 28,676 19,859 (28,676) 19,859 |
2021 £ - 34,145 34,145 2021 £ 27,662 25,561 (24,547) 28,676 |
|---|---|---|
All deferred income is due within one year and has been deferred as it relates to centre activities post year end or activities that were postponed due to the coronavirus pandemic.
Page 29
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
15. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds High rope replacement fund General funds General Funds Total Unrestricted funds Restricted funds Bailey Charity Grant Mosica Kata-Kanu Session Julia and Hans Rausing Grant Rothen - Disability Support Funded Session Sea Bin Canoes and BA's A-Frame DCMS Funding Rafted Canoes Wheelchair Abseil Maintenance IT Equipment Kata Kanus and Decals LCFC Fixed asset fund Capital asset fund |
Balance at 1 April 2021 £ 64,000 136,078 200,078 - - - - 3,739 - 716 4,378 1,764 1,820 5,000 427 - 17,844 167,708 |
Income £ - 562,006 562,006 10,000 500 56,000 500 10 3,275 4,204 - - - - 5,525 4,126 84,140 - |
Expenditure £ - (441,757) (441,757) - (250) (7,450) - (604) (2,960) (2,040) (4,378) (1,764) (1,666) (483) (4,949) (1,318) (27,862) (27,671) |
Transfers in/(out) £ 64,000 (90,718) (26,718) (5,281) - (5,904) - - (315) (2,880) - - - (4,517) (1,003) (2,808) (22,708) 49,426 |
Balance at 31 March 2022 £ 128,000 |
|---|---|---|---|---|---|
| 165,609 | |||||
| 293,609 | |||||
| 4,719 250 42,646 500 3,145 - - - - 154 - - - |
|||||
| 51,414 | |||||
| 189,463 |
Page 30
LEICESTER OUTDOOR PURSUITS CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
15. Statement of funds (continued)
Statement of funds - current year (continued)
| Total Restricted funds Total of funds |
Balance at 1 April 2021 £ 185,552 385,630 |
Income £ 84,140 646,146 |
Expenditure £ (55,533) (497,290) |
Transfers in/out £ 26,718 - |
Balance at 31 March 2022 £ 240,877 |
|---|---|---|---|---|---|
| 534,486 |
Unrestricted funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
The Government Grants relate to the furlough income and COVID-19 funding received during the year.
During the year £26,718 was transferred from unrestricted to restricted fixed asset funds for the purchase of fixed assets.
Designated funds
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particulate purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds
The Bailey Charity Grant relates to the funding of refurbishments of the changing rooms and showers. The Mosica Kata-Kanu Session relates to the funding of the Mosaic session.
The Julia and Hans Rausing Grant relates to the funding of core and overhead costs incurred by the charity.
The Rothen - Disability Support Funded Session relates to the funding of support for disability activities carried out by the charity.
The Sea Bin relates to the purchase and installation of a sea bin.
Canoes and BA's relates to the purchase of canoes and water resources. The A-Frame relates to the purchase of climbing equipment.
The DCMS Funding relates to the costs such as salaries, utlities and grounds maintenance. The Rafted Canoes relates to the purchase of canoes.
The Wheelchair Abseil Maintenance relates to the maintenance of the wheelchair abseiling equipment. The IT Equipment relates to the purchase and replacement of IT equipment. The Kata Kanus and Decals relates to the purchase of canoes.
Furlough income relates to the funding of staff furloughed during the Covid-19 pandemic. LCFC relates to the funding of canoes, and maintenance on wheelchair, abseil and IT equipment.
Page 31
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
15. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds High Ropes and Centre Development Fund General funds General Funds Government Grants Total Unrestricted funds Restricted funds Slab Area Kayak Launch Sea Bin A-Frame Storm Ciara DCMS Funding Water Resource Replacement River Litter Pick Rafted Canoes Wheelchair Abseil Maintenance IT Equipment Kata Kanus and Decals Bushcraft |
Balance at 1 April 2020 £ 16,000 95,531 - 95,531 111,531 3,321 9,297 3,489 - 189 - - - - - - - - 16,296 |
Income £ - 162,042 186,344 348,386 348,386 - - 250 716 - 100,000 502 82 8,180 1,820 5,000 8,000 312 124,862 |
Expenditure £ - (72,211) (186,344) (258,555) (258,555) - (1,668) - - (189) (83,463) (502) (82) (6,416) - - (2,285) (312) (94,917) |
Transfers in/(out) £ 48,000 (49,284) - (49,284) (1,284) (3,321) (7,629) - - - (12,159) - - - - - (5,288) - (28,397) |
Balance at 31 March 2021 £ 64,000 |
|---|---|---|---|---|---|
| 136,078 - |
|||||
| 136,078 | |||||
| 200,078 | |||||
| - - 3,739 716 - 4,378 - - 1,764 1,820 5,000 427 - |
|||||
| 17,844 |
Page 32
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
15. Statement of funds (continued)
| Fixed asset fund Capital asset fund Total Restricted funds Total of funds |
Balance at 1 April 2020 £ 158,594 174,890 286,421 |
Income £ - 124,862 473,248 |
Expenditure £ (20,567) (115,484) (374,039) |
Transfers in/(out) £ 29,681 1,284 - |
Balance at 31 March 2021 £ 167,708 |
|---|---|---|---|---|---|
| 185,552 | |||||
| 385,630 |
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Intangible fixed assets Current assets Current liabilities Total |
Restricted funds 2022 £ - - 51,414 - 51,414 |
Fixed asset funds 2022 Unrestricted funds 2022 £ £ 189,463 - - 213 - 337,187 - (43,791) 189,463 293,609 |
Total funds 2022 £ 189,463 213 388,601 (43,791) 534,486 |
|---|---|---|---|
Page 33
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
16. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Intangible fixed assets Current assets Current liabilities Total |
Restricted funds 2021 £ - - 17,844 - 17,844 |
Fixed asset funds 2021 £ 167,708 - - - 167,708 |
Unrestricted funds 2021 £ - 3,955 230,268 (34,145) 200,078 |
Total funds 2021 £ 167,708 3,955 248,112 (34,145) 385,630 |
|---|---|---|---|---|
17. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation and impairment of tangible fixed assets (note 12) Amortisation and impairment of intangible fixed assets (note 11) Interest received (note 5) Decrease in debtors (note 13) Increase/(decrease) in creditors (note 14) Net cash provided by operating activities 18. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents |
2022 £ 148,856 27,671 3,742 (131) 4,087 9,646 193,871 2022 £ 367,552 367,552 |
2021 £ 99,209 20,567 3,742 (36) 24,076 (507) 147,051 2021 £ 222,976 222,976 |
|---|---|---|
Page 34
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
19. Analysis of changes in net debt
| Cash at bank and in hand | At 1 April 2021 £ 222,976 222,976 |
Cash flows £ 144,576 144,576 |
At 31 March 2022 £ 367,552 |
|---|---|---|---|
| 367,552 |
20. Contingent assets
A claim has been submitted to the Environment Agency for compensation in respect of lost revenues whilst significant works were undertaken during 2018. A preliminary proposal was made by the Environment Agency for an amount of £26,998 which was recognised in income in the 2021 accounts. Further discussions are still ongoing with the Environment Agency to agree a final figure.
21. Capital commitments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Contracted for but not provided in these financial statements | ||
| Acquisition of tangible fixed assets | 3,219 | - |
22. Pension commitments
The Charity operates a defined contributions pensions scheme. The assets of the scheme are held seperately from those of the Charity in an independently adminstered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £4,741 (2021: £4,243). Contributions totalling £Nil (2021: £Nil) were payable to the fund at the reporting date.
23. Operating lease commitments
At 31 March 2022 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2022 £ 1,998 2,520 4,518 |
2021 £ 1,870 1,278 |
|---|---|---|
| 3,148 |
Page 35
(A Company Limited by Guarantee)
LEICESTER OUTDOOR PURSUITS CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
24. Related party transactions
Information about related party transactions and outstanding balances is outlined below:
A Trustee's child attended the after school club and the holiday scheme during the year. The amounts paid were at the same rate as any other user of the centre.
During the year the charity invoiced Mosaic 1898 Ltd, a company in which Trustee Karen Cane is a director for room hire and activities totalling £7,298 (2021: £Nil). The room hire was invoiced at below market rate.
25. Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each Trustees member in the event of winding up is limited to £1.
Page 36