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2021-03-31-accounts

Trustees Jon Keating
Martin
Nield
Chris Easton
Daniel Clark
Jacqueline
Moores
Julian Sexton
David Wadsworth
Denise Ward (Appointed 1 August 2020)
Michaela Bowker (Appointed 29 September
2021)
Secretary David Weakley
Charity number 1074808
Company number 03531443
Registered office Ken Ward Sports Centre
Hattersley
Road		 East
Hattersley
Hyde
Cheshire
SK14 3NL
Auditor Chadwick
&Company		 (Manchester) Limited
Chartered
Accountants
Statutory Auditors
Capital House
272 Manchester Road
Droylsden
Manchester
M43 6PW
Bankers The Co-operative Bank Pic
1 Market Place
Ashton-under-Lyne
Lancashire
OL6 6DL
Solicitors Pannone
& Partners
23 Deansgate
Manchester
M3 2BU

Page
Trustees'
report		 1-6
Statement
of trustees'		 responsibilities
Independent
auditor's		 report 8-11
Statement
offinancial		 activities 12
Balance sheet 13
Statement
ofcash flows		 14
Notes to the financial statements 15-31
The following
pages		 do not form part ofthe statutory accounts
Proforma Balance Sheet 32
Detailed Statement
of		 Financial Activities 33-34

Unrestricted Restricted Total Total
funds funds 2021 2020
Notes E f 6 6
lgggnmfmm;
Charitable
activities		 9,762,973 9,762,973 12,823,055
Investments 476,000 476,000 499,000
Total Income 10,238,973 10,238,973 13,322,055
Eltgggdiigotgm
Charitable
activities		 5 10,189,383 634,813 10,824,196 13,223,169
Net Income/(expenditure) for the year/
Net incoming/(outgoing) resources 49,590 (634,813) (585,223) 98,886
Other recognised gains and losses
Actuarial
(loss)/gain
pension schemes		 on defined benefit (3,499,000) (3499 000) 930000
Net movement
in funds		 (3,449,410) (634,813) (4,084,223) 1,028,886
Fund balances at 1 April 2020 (2,858,281) 2,468,326 (389,955) (1,418,841)
Fund balances at 31 March 2021 (6,307,691) 1,833,513 (4,474,178) (389,955)

2021 2020
Notes f f
Fixed assets
Tangible assets 10 3,437,308 4,811,116
Current assets
Stocks 11 15,025 20,035
Debtors 12 1,097,398 725,138
Cash at bank and in hand 877,855 395,788
1,990,278 1,140,961
Creditors: amounts falling due within 13
one year (1,538,559) (1,777,859)
Net current assets/(liabilities) 451,719 (636,898)
Total assets less current liabilities 3,889,027 4,174,218
Creditors: amounts falling due after 14
more than one year (2,850,205) (2,796,173)
Provisions for liabilities 16 (5,513,000) (1,768,000)
Net liabilities (4,474,178) (389,955)
Income funds
Restricted funds
Tangible assets 1,833,513 2,468,326
1,833,513 2,468,326
Unrestdcted funds (6,307,691) (2,858,281)
(4,474,178) (389,955)

2021 2020
Notes 9
Cash flows from operating activities
Cash generated
from operations		 22 406,332 1,391,239
investing activities
Purchase oftangible
fixed assets		 (14,395) (1,042,401)
Net cash used in investing activities (14,395) (1,042,401)
Financing activities
Repayment of borrowings 90,130 107,711
Net cash
activities		 generated
from financing		 90,130 107,711
Net Increase in cash and cash equivalents 482,067 456,549
Cash and cash equivalents at beginning ofyear 395,788 (60,761)
Cash and cash equivalents at end of year 877,855 395,788

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investments
Unrestricted Total
funds
2021 2020
F f
Net interest on defined
benefit pension scheme		 476,000 499,000
Charitable activities
2021f 2020
f
Staff costs 5,281,276 5722 808
Pensions 1,006,770 1,268,499
Coaching
Cost oftrading
Fitness suite expenses		 216,839
33,488
170,250		 374,595
375,929
239,863
Rent, heat, light and water 774,447 1,278,768
Premises
repairs and maintenance
Staff training		 499,306
41,000		 762,975
69,812
Depreciation
Depreciation
Depreciation		 ofleasehold
property
refurbishment
of lT and general
equipment
offootball pitches		 1,155,287
191,929
40,987		 953,960
221,156
40,987
9,411,579 11,309,352
Support costs (see note 6)
Governance
costs (see note 6)		 1,400,117
12,500		 1,901,317
12,500
10,824,196 13,223,169
Analysis
by fund
Unrestricted
funds		 10,189,383 12,842,151
Restricted
funds		 634,813 381,018
10,824,196 13,223,169

6 Supportcosts Supportcosts
Support Governance 2021 2020
costs costs
f
Insurance 88,099 88,099 99,138
Cleaning 51,726 51,726 82,076
Legal and professional 90,188 90,188 105,656
Travelling expenses 255,333 255,333 438,081
Telephone, post and carriage 33,650 33,650 34,047
Printing
and stationery		 13,726 13,726 17,048
Marketing 133,431 133,431 223,388
Bank charges
and interest		 35,282 35,282 75,643
Bank loan interest and charges 90,130 90,130 107,712
Cash collection service 1,741 1,741 16,485
Sundry expenses 85,811 85,811 145,043
Finance costs 521,000 521,000 557,000
Audit 12,500 12,500 12,500
1,400,117 12,500 1,412,617 1,913,817
Analysed
Charitable		 between
activities		 1,400,117 12,500 1,412,617 1,913,817
7 Auditor's remuneration
The analysis of auditor's remuneration is as follows.
2021f 2020
Audit ofthe company's annual accounts 12,500 12,500


The average
monthly
number
ofemployees
during the y		 ear was:
2021 2020
Number Number
Operational 392 399
Management and administration 35 50
427 449
Employment costs 2021 2020
6 5
Wages and salaries 4,993,549 5,408,987
Social security costs 287,727 313,821
Other pension costs 1,006,770 1,268,499
6,288,046 6,991,307
2021 2020
Number Number
570,001 —F80,000 1 1

10 Tangible fixed assets
Leasehold Football ITand general Total
pl'openy pitches equipment
refurbishment
F
Cost
At 1 April 2020 10,026,888 1,119,740 3,585,665 14,732,293
Additions 14,395 14,395
At 31 March 2021 10,026,888 1,119,740 3,600,060 14,746,688
Depreciation
and Impairment
At 1 April 2020 6,788,396 996,777 2,136,004 9,921,177
Depreciation
charged		 in the year 912,541 40,987 434,675 1,388,203
At 31 March 2021 7,700,937 1,037,764 2,570,679 11,309,380
Carrying
amount
At 31 March 2021		 2,325,951 81,976 1,029,381 3,437,308
At 31 March 2020 3,238,492 122,963 1,449,661 4,811,116
11 Stocks
2021 2020
E E
Finished goods and goods for resale 15,025 20,035
12 Debtors
2021 2020
Amounts falling due within one year: E E
Trade debtors 162,218 138,936
Other debtors 2,353 29,780
Prepayments
and accrued income		 932,827 556,422
1,097,398 725,138

13 Creditors: amounts falling due within one year
2021f 2020f
Debenture
loans		 716,097 679,999
Other taxation
and social security		 94,460 56,884
Trade creditors 92,051 648,242
Other creditors 93,219 109,152
Accruals and deferred income 542,732 283,582
1,538,559 1,777,859
14 Creditors: amounts falling due after more than one year
2021f 2020
f.
Debenture
loans		 2,850,205 2,796,173
15 Loans and overdrafts
2021
f		 2020f
Debenture
loans		 3,566,302 3,476, 172
Payable within one year 716,097 679,999
Payable after one year 2,850,205 2,796,173

Provisions for liabilities Notes 2021f 2020
F
Retirement benefit obligations 17 5,513,000 1,768,000
5,513,000 1,768,000

Key assumptions Key assumptions
2021 2020
0/ 0/
Discount rate 2.1 2.4
Expected rate ofincrease ofpensions in payment 2.5 1.6
Expected rate ofsalary increases 2.5 1.6
Mortality assumptions
The assumed life expectations on retirement at age 65are:
2021 2020
Years Years
Retiring today
- Males 20.1 20.3
- Females 22.9 22.9
Retiring
in 20
- Males		 years 21.0 21.5
-Females 24.5 24.6
Amounts
recognised		 in the profit and loss account:
2021f 2020
Current service cost 982,000 1,277,000
Net interest on defined benefit liability 45,000 58,000
Total costs 1,027,000 1,335,000

17 Retirement
benefit schemes		 Retirement
benefit schemes		 (Continued)
Amounts
taken to other		 comprehensive income:
2021 2020
E f
Return
on scheme assets excluding		 interest income 3,764,000 890,000
Actuarial
changes
related to obligations		 (7,263,000) 1,763,000
(3,499,000) 2,653,000
The amounts
included		 in the balance sheet arising from the the trust's
obligations
in respect of		 defined benefit plans are as follows:
2021 2020
f. f.
Present value ofdefined benefit obligations 29,895,000 21,333,000
Fair value of plan assets (24,382,000) (19,565,000)
Deficit in scheme 5,513,000 1,768,000
Movements
in the present value		 of dehned
benefit obligations:
2021
Liabilities at 1 April 2020 21,333,000
Current service cost 982,000
Benefits paid (427,000)
Contributions
from scheme members		 223,000
Actuarial
gains and losses		 7,263,000
Interest cost 521,000
At 31 March 2021 29,895,000
The defined benefit obligations arise from plans funded as follows:
2021
f
Wholly unfunded
obligations
Wholly or partly funded obligations 29,895,000
29,895,000

17 Retirement benefit schemes (Continued)
Movements in the fair value of plan assets:
2021f
Fair value of assets at 1 April 2020 19,565,000
Interest income 476,000
Return on plan assets (excluding amounts included in net interest) 3,764,000
Benefits paid (427,000)
Contributions by the employer 781,000
Contributions by scheme members 223,000
At 31 March 2021 24,382,000
The fair value of plan assets at the reporting period end was as follows:
2021 2020
f.
Equity instruments 17,555,040 13,500,000
Debt instruments 2,925,840 2,935,000
Property 1,706,740 1,370,000
Cash 2,194,380 1,760,000
24,382,000 19,565,000

Movement fn funds
Balance at Incoming Outgoing Balance at Outgoing Balance at
1 April 2019 resources resources 1 April 2020 resources 31 March 2021
E E E E E f.
Restricted funds 1,834,165 1,015,179 (381,018) 2,468,326 (634,813) 1,833,513

19 Analysis ofnet assets between funds
Unrestrictedf Restricted
f		 Total
f
Fund balances at 31 March 2021 are represented by:
Tangible assets 1,603,795 1 833,513 3,437,308
Current assets/(liabilities) 451,719 451,719
Long term liabilities (2,850,205) (2,850,205)
Provisions
and pensions		 (5,513,000) (5,513,000)
(6,307,691) 1,833,513 (4,474,178)

2021 2020
f
Within one year 142,673 162,103
Between two and five years 141,100 137,045
283,773 299,148

The remun eration
ofkey management
personnel
is as		 follows.
2021f 2020
f
Aggregate compensation 295,591 221,166

and Great Academies
 Trust. Again no advantage
is gained from these		 Again no advantage
is gained from these		 links.
The Trust is under the control ofthe directors.
22 Cash generated
from		 operations 2021
6		 2020f
(Deficit)/surplus
for the		 year (585,223) 98,886
Adjustments
for:
Depreciation
and impairment		 oftangible fixed assets 1,388,203 1,216,102
Difference between
pension		 charge and cash contributions 246,000 516,000
Movements
in working		 capital:
Decrease
in stocks		 5,010 25,149
(Increase)/decrease
in		 debtors (372,260) 94,059
(Decrease)
in creditors		 (275,398) (558,957)
Cash generated
from		 operations 406,332 1,391,239

23 Analysis ofchanges
In net (debt)/funds		 Analysis ofchanges
In net (debt)/funds
At 1 April 2020 Cash llowsAt
F		 31 March 2021
f
Cash at bank and in hand 395,788 482,067 877,855
Loans falling due within one year (679,999) (36,098) (716,097)
Loans falling due after more than one year (2,796,173) (54,032) (2,850,205)
(3,080,384) 391,937 (2,688,447)

FOR THE YE A R ENDED 31MA RCH 2021
2021 2020
Fixed assets
Tangible assets 3,437,308 4,811,116
Current assets
Stocks 15,025 20,035
Debtors 1,097,398 725,138
Cash at bank and in hand 877,855 395,788
1,990,278 1,140,961
Creditors: amounts falling due within
one year (1,538,559) (1,777,859)
Net current
liabilities		 451,719 (636,898)
Total assets less current liabilities 3,889,027 4,174,218
Creditors: amounts falling due after
more than one year (2,850,205) (2,796,173)
Net liabilities 1,038,822 1,378,045
Income funds
Restricted
funds
Tangible assets 1,833,513 2,468,326
1,833,513 2,468,326
Unrestricted
funds		 (794,691) (1,090,281)
1,038,822 1,378,045

FOR THE YEAR E ND ED 31MARCH 2021
2021 2020
INCOMING RESOURCES E f
Incoming
resources from		 charita ble activities
Management
fee		 1,077,000 1,403,000
Facility contributions 1,015,179
Public health contributions 710,503 193,148
Job retention
scheme grants		 1,960,701
Insurance
receipt		 2,267,000 233,000
Bank interest received 2 6
Swimming 137,955 1,898,564
School use 548,338 572,266
Health suites (5) 23,351
Squash 1,685 12,708
Other courts etc 7,155 89,999
All weather
pitches		 49,243 137,642
Fitness suite 550,747 2,654,876
Total adrenaline (2,848) 197,962
Gymnastics 347 356,598
Climbing
and caving		 786 311,951
Other activities 2,438,830 3,014,617
Bar and catering charges 2,971 522,976
Sports goods and badges 5,181 132,034
Vending
machine
royalties		 7,382 53,178
Total Incoming resources 9,762,973 12,823,055
RESOURCES EXPENDED
Charitable
activities
Wages and social security 5,281,276 5,722,808
Pensions 1,006,770 1,268,499
Coaching 216,839 374,595
Cost of trading 33,488 375,929
Fitness suite expenses 170,250 239,863
Rates, heat, light and water 774,447 1,278,768
Premises
repairs and maintenance		 499,306 762,975
Staff training 41,000 69,812
Depreciation
of leasehold		 property refurbishment 1,155,287 953,960
Depreciation
of IT and general		 equipment 191,929 221,156
Depreciation
offootball pitches		 40,987 40,987
(9,411,579) (11,309,352)

2021 2020
Governance costs
Auditors'
remuneration		 (12,500) (12,500)
Supportcosts
Management
Insurance 88,099 99,138
Cleaning 51,726 82,076
Legal and professional 90,188 105,656
Travelling
expenses		 255,333 438,081
Telephone,
post and carriage		 33,650 34,047
Printing
and stationery		 13,726 17,048
Marketing 133,431 223,388
Bank charges and interest 35,282 75,643
Bank loan interest and charges 90,130 107,712
Cash collection service 1,741 16,485
Sundry expenses 85,811 145,043
(879,117) (1,344,317)
Finance
Expected return
on pension scheme assets		 521,000 557,000
Interest on pension scheme (476,000) (499,000)
(45,000) (58,000)
Total resources expended (10,348,196) (12,724,169)
Net Income I(expenditure) (585,223) 98,888