## ## ## |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|ofemployees
during
the year w|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| ## ## ## |17|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| ## ## |17|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| ## ## ## |19|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| ## ## ## |23|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)|