2022-03-31-accounts - Tameside Sports Trust

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Trustees			Jon Keating
			Martin Nield
			Chris Easton
			Daniel Clark
			Jacqueline Moores
			Julian Sexton
			David Wadsworth
			Denise Ward
			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
			SK143NL
Auditor			Chadwick & Company		(Manchester)	Limited
			Chartered Accountants
			Statutory Auditors
			Capital House
			272 Manchester	Road
			Droylsden
			Manchester
			M43 6PW
Bankers			The Co-operative	Bank	Plc
			1 Market Place
			Ashton-under-Lyne
			Lancashire
			OL6 6DL
Solicitors			Pannone & Partners
			23 Deansgate
			Manchester
			M3 2BU

		Page
Trustees' report		1-5
Statement oftrustees'	responsibilities
Independent auditor's	report
Statement of financial	activities
Balance sheet		12
Statement ofcash flows		13
Notes to the financial	statements	14-30

				Unrestricted	Restricted	Total	Total
				funds	funds	2022	2021
			Notes	F	E	f.
Income from:
Charitable activities				11,356,345		11,356,345	9,762,973
Investments				518,000		518,000	476,000
Total income				11,874,345		11,874,345	10,238,973
Ex enditure on:
Charitable activities				14,117,847	634,813	14,752,660	10,824,196
Net expenditure for the year/ Net outgoing resources				(2,243,502)	(634,813)	(2,878,315)	(585,223)
Other recognised	gains and	losses
Actuarial gain/(loss) pension schemes	on defined	benefit		3,587,000		3,587,000	(3,499,000)
Net movement in funds				1,343,498	(634,813)	708,685	(4,084,223)
Fund balances at 1 April 2021				(6,307,691)	1,833,513	(4,474,178)	(389,955)
Fund balances at	31 II/larch 2022			(4,964,193)	1,198,700	(3,765,493)	(4,474,178)

						2022		2021
					Notes			E
Fixed assets
Tangible assets					10		2,122,985		3,437,308
Current assets
Stocks					11	39,218		15,025
Debtors					12	1,032,559		1,097,398
Cash at bank and	in	hand				890,881		877,855
						1,962,658		1,990,278
Creditors: amounts one year		falling		due within	13	(2,055,774)		(1,538,559)
Net current (liabilities)/assets							(93,116)		451,719
Total assets less	current		liabilities				2,029,869		3,889,027
Creditors: amounts more than one year		falling		due after			(2,902,362)		(2,850,205)
Provisions for liabilities					16		(2,893,000)		(5,513,000)
Net liabilities							(3,765,493)		(4,474,178)
Income funds
Restricted funds
Tangible assets						1,198,700		1,833,513
					18		1,198,700		1,833,513
Unrestricted funds							(4,964,193)		(6,307,691)
							(3,765,493)		(4,474, 178)
The accounts were approved				by the Trustees on 27 July 2022
Denise Ward
Trustee

					2022		2021
				Notes			E
Cash flows from operating			activities
Cash (absorbed by)/generated operations			from	22		(17,665)		406,332
Investing	activities
Purchase	of tangible fixed assets				(40,945)		(14,395)
Net cash	used in investing		activities			(40,945)		(14,395)
Financing	activities
Repayment	of borrowings				71,636		90,130
Net cash activities	generated from financing					71,636		90,130
Net increase in cash and cash equivaients						13,026		482,067
Cash and	cash equivalents	at beginning		ofyear		877,855		395,788
Cash and	cash equivalents		at end of	year		890,881		877,855

	Net interest	on defined	benefit pension scheme
5	Charitable	activities

Unrestricted	Total
funds
2022	2021
E
518,000	476,000

				2022	2021
				E	E
Staff costs				6,020,130	5,281,276
Pensions				1,677,300	1,006,770
Coaching				655,562	216,839
Cost oftrading				238,579	33,488
Fitness suite expenses				369,350	170,250
Rent, heat, light and water				1,357,573	774,447
Premises repairs and maintenance				885,540	499,306
Staff training				79,022	41,000
Depreciation of leasehold	property		refurbishment	902,677	912,541
Depreciation of ITand general		equipment		411,604	434,675
Depreciation offootball pitches				40,987	40,987
				12,638,324	9,411,579
Support costs (see note 6) Governance costs (see note 6)				2,101,836 12,500	1,400,117 12,500
				14,752,660	10,824,196
Analysis by fund Unrestricted funds				14,117,847	10,189,383
Restricted funds				634,813	634,813
				14,752,660	10,824,196

6	Support costs				Support	Governance	2022	2021
					costs	costs
					E
	Insurance				91,981		91,981	88,099
	Cleaning Legal and professional Travelling expenses Telephone, post and carriage Printing and stationery Marketing Bank charges and interest Bank loan interest and charges				88,113 86,353 483,399 40,230 18,731 321,199 65,315 71,636		88,113 86,353 483,399 40,230 18,731 321,199 65,315 71,636	51,726 90,188 255,333 33,650 13,726 133,431 35,282 90,130
	Cash collection service				6,811		6,811	1,741
	Sundry expenses Finance costs				186,068 642,000		186,068 642,000	85,811 521,000
	Audit					12,500	12,500	12,500
					2,101,836	12,500	2,114,336	1,412,617
	Analysed between Charitable activities				2,101,836	12,500	2,114,336	1,412,617
7	Auditor's remuneration
	The analysis of auditor's	remuneration		is as follows:			2022	2021
							E
	Auditofthecompany's	annual	accoun	ts			12,500	12,500

The average monthly number	as:
	2022	2021
	Number	Number
Operational Management and administration	394 35	392 35
	429	427
Employment costs	2022	2021
	E	E
Wages and salaries Social security costs Other pension costs	5,689,879 330,251 1,677,300	4,993,549 287,727 1,006,770
	7,697,430	6,288,046

The num	ber ofemployees whose annual remuneration	was F60,000 or more were:
		2022	2021
		Number	Number
F70,001	—F80,000	1	1

10	Tangible fixed assets
			Leasehold	Football	ITand general	Total
			property	pitches	equipment
			refurbishment
	Cost
	At 1 April 2021 Additions		10,026,888	1,119,740	3,600,060 40,945	14,746,688 40,945
	At 31 March 2022		10,026,888	1,119,740	3,641,005	14,787,633
	Depreciation and impairment At 1 April 2021		7,700,937	1,037,764	2,570,679	11,309,380
	Depreciation charged	in the year	902,677	40,987	411,604	1,355,268
	At 31 March 2022		8,603,614	1,078,751	2,982,283	12,664,648
	Carrying amount At 31 March 2022		1,423,274	40,989	658,722	2,122,985
	At 31 March 2021		2,325,951	81,976	1,029,381	3,437,308
11	Stocks
					2022	2021
					E	F
	Finished goods and goods for resale				39,218	15,025
12	Debtors
					2022	2021
	Amounts falling due	within one year:
	Trade debtors				676,507	162,218
	Other debtors				2,446	2,353
	Prepayments and accrued income				353,606	932,827
					1,032,559	1,097,398

13	Creditors: amounts	falling due	within one year
				2022	2021
					E
	Debenture loans			735,576	716,097
	Other taxation and social security			136,665	94,460
	Trade creditors			460,493	92,051
	Other creditors			109,825	93,219
	Accruals and deferred	income		613,215	542,732
				2,055,774	1,538,559
14	Creditors: amounts	falling due after more than one year
				2022	2021
				F	E
	Debenture loans			2,902,362	2,850,205
15	Loans and overdrafts
				2022	2021
	Debenture loans			3,637,938	3,566,302
	Payable within one year Payable after one year			735,576 2,902,362	716,097 2,850,205
	Amounts included above which		fall due after five years:
	Payable by instalments			131,000	262,004

Key assumptions
		2022	2021
		0/
Discount rate		2.85	2.1
Expected rate of increase ofpensions Expected rate of salary increases	in payment	3,00 3.00	2.5 2.5

Mortality assumptions
The assumed life expectations			on retirement	at age 65 are:
					2022	2021
					Years	Years
Retiring today - Males					20.2	20.1
- Females					23.0	22.9
Retiring in 20 years - Males					21.2	21.0
- Females					24.7	24.5
Amounts recognised	in	the profit and loss account:			2022	2021
					F	F
Current service cost					1,640,000	982,000
Net interest on defined		benefit	liability		124,000	45,000
Total costs					1,764,000	1,027,000

Retirement benefit schemes	Retirement benefit schemes	Retirement benefit schemes										(Continued)
Amounts taken to other	comprehensive				income:
											2022	2021
											E	F
Return on scheme assets excluding				interest income							1,889,000	3,764,000
Actuarial changes related		to obligations									1,698,000	(7,263,000)
											3,587,000	(3,499,000)
The amounts included		in the	balance		sheet	arising	from	the	the	trust's
obligations in respect of		defined	benefit		plans are as follows:						2022	2021
											E	E
Present value of defined		benefit	obligations								30,268,000	29,895,000
Fair value of plan assets											(27,375,000)	(24,382,000)
Deficit in scheme											2,893,000	5,513,000
Movements in the present value			of defined benefit obligations:
												2022
												F
Liabilities at 1 April 2021												29,895,000
Current service cost												1,640,000
Benefits paid Contributions from scheme members												(438,000) 227,000
Actuarial gains and losses Interest cost												(1,698,000) 642,000
At 31 March 2022												30,268,000
The defined benefit obligations			arise	from plans		funded	as follows:
												2022
												E
Wholly unfunded obligations Wholly or partly funded obligations												30,268,000
												30,268,000

Retirement benefit schemes			(Continued)
Movements in the fair value of plan assets:
			2022
			E
Fair value ofassets at 1 April 2021			24,382,000
Interest income			518,000
Return on plan assets (excluding amounts Benefits paid Contributions by the employer Contributions by scheme members	inciuded	in net interest)	1,889,000 (438,000) 797,000 227,000
At 31 March 2022			27,375,000

The fair value of plan assets at the reporting period end was a	s follows;
	2022	2021
Equity instruments Debt instruments	18,888,750 3,558,750	17,555,040 2,925,840
Property Cash	2,190,000 2,737,500	1,706,740 2,194,380
	27,375,000	24,382,000

		Balance at 1 April 2020	Outgoing resources	Balance at 1 April 2021	Outgoing resources	31	Balance at March 2022
		F		E	E		E
Restricted	funds	2,468,326	(634,813)	1,833,513	(634,813)		1,198,700

Analysis of net assets between	funds		Unrestricted	Restricted	Total
			F	E	F
Fund balances at 31 March 2022	are represented	by;
Tangible assets Current assets/(liabilities)			924,285 (93,116)	1,198,700	2,122,985 (93,116)
Long term liabilities Provisions and pensions			(2,902,362) (2,893,000)		(2,902,362) (2,893,000)
			(4,964,193)	1,198,700	(3,765,493)

under non-cancellable operating leases, which fall due	as follows:
	2022	2021
		F
Within one year Between two and five years	81,028 60,072	142,673 141,100
	141,100	283,773

The remun	eration of key management personnel is a	s follows.
		2022	2021
		F	E
Aggregate	compensation	297,955	295,591

	The Trust is under the control ofthe directors.
22	Cash generated from operations	2022 F	2021 F
	Deficit for the year	(2,878,315)	(585,223)
	Adjustments for: Depreciation and impairment of tangible fixed assets Difference between pension charge and cash contributions	1,355,268 967,000	1,388,203 246,000
	Movements in working capital: (Increase)/decrease in stocks Decrease/(increase) in debtors Increase/(decrease) in creditors	(24,193) 64,839 497,736	5,010 (372,260) (275,398)
	Cash (absorbed by)/generated from operations	(17,665)	406,332

Analysis ofchanges in net (debt)/funds	Analysis ofchanges in net (debt)/funds	At 1 April 2021	Cash flowsAt 31 March 2022	Cash flowsAt 31 March 2022
		E	E
Cash at bank and	in hand	877,855	13,026	890,881
Loans falling due Loans falling due	within one year after more than one year	(716,097) (2,850,205)	(19,479) (52,157)	(735,576) (2,902,362)
		(2,688,447)	(58,610)	(2,747,057)