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2023-03-31-accounts

Page
Reference and Administrative
Details
Report ofthe Trustees 2 to 20
Report ofthe Independent Auditors 21 to 23
Consolidated Statement of Financial Activities 24
Balance Sheet 25
Consolidated Cash Flow Statement 26
Notes to the Consolidated Cash Flow Statement 27
Notes to The Consolidated Financial Statements 28 to 50

REFERENCE AND ADMINISTRATIVE
DETAILS		 ADMINISTRATIVE
DETAILS
FOR THE YEAR ENDED 31 MARCH
2023
TRUSTEES Tunde Ojetola (Chair)
Wayne Warner (Resigned 22/1 2/2022)
Jatinder
Nahal (Vice Chair)
Barry Norrington
Dr James Watson
Juan Rangel (Resigned 08/08/2023)
Kameel Mohammed
Lynn Worrall (Resigned 12/08/2022)
Mark Coxshall
(Appointed		 14/03/2023- Resigned
26/05/2023)
Andrew Jefferies (Appointed 27/09/2022 —Resigned
13/07/2023)
Patrick Cole (Appointed 13/07/2023)
Joanne Wintour
(Appointed		 30/01/2023)
James Thandi
(Appointed		 13/06/2023)
Joy Redsell (Appointed 13/07/2023)
Daphine
Zameziza
Longe		 (Appointed 01/08/2023)
COMPANY SECRETARY Kay Volk
MANAGING DIRECTOR Karl Hayes
REGISTERED OFFICE Blackshots Leisure Centre
AND OPERATIONAL ADDRESS Blackshots Lane
GRAYS
Essex
RM16 2JU
TRADING AS Impulse
Leisure
REGISTERED COMPANY NUMBER 03782811 (England
and		 Wales)
REGISTERED CHARITY NUMBER 1080186
AUDITORS McCabe Ford Williams
Statutory
Auditors
and Chartered		 Accountants
Kent Science Park, Building 1063
Comforth
Drive, Sittingboume,		 Kent
ME9 8PX
BANKERS National
Westminster
Bank		 PLC
17 High Street, Grays
Essex, RM17 6NP
SOLICITORS Winckworth
Sherwood
Minerva
House,
5 Montague
Close
LONDON, SE19BB

31.03.23 31.03.22
Unrestricted Restricted Unrestricted Restricted
funds funds Total funds funds funds Total funds
Notes E E
Donation
Income		 51,429 51,429
Charitable
activities
Leisure Centres 4,492,494 l80,497 4,672,991 3,785,541 426,185 4,211,726
Civic Hall 393,028 393,028 79,098 79,098
Office and Cottage Rent 25,740 25,740 26,090 26,090
Other trading
activities		 152,358 152,358 131,777 131,777
Investments 12,116 12,116 302 302
Total income 5,075,736 180,497 5,256,233 4,022,&08 477,614 4,500,422
EXPENDITURE
Raising funds 8,671 8,671 80,460 80,460
Charitable
activities
Leisure Centres 4,598,583 183,995 4,782,578 2,966,281 966,525 3,932,806
Civic Hall 362,738 362,73& 263,182 263,182
Office and Cottage Rent 8,671 8,671 12,156 12,156
Trading activities 351,656 351,656 296,943 296,943
5,330,319 183,995 5,514,314
Total resources expended 3,619022 966,525 4,585,547
Net income/(expenditure) for the year
before other recognised gains and losses (254,583) (3,498) (258,081) 403,786 (488,911) (85,125)
Transfers between funds 20 68,461 (68,461)
Actuarial
gains/(losses)		 on defined
benefit pension scheme 21 2,871,000 2,871,000 1,056,000 1,056,000
Net movement
in funds		 2,616,417 (3,498) 2,612,919 1,528,247 (557,372) 970,875
RECONCIUATION
OF		 FUNDS
Total funds brought
forward		 20 2,056,610 3,498 2,060,108 528,363 560,870 1,089,233
TOTAL FUNDS CARRtED
FORWARD 20 4,673,027 4,673,027 2,056,610 3,498 2,060,108
CONTINUING
OPERATIONS
All income and expenditure
has arisen from continuing		 activities.

The Group The Charitable Company
31.03.23 31.03.22 31.03.23 31.03.22
RXEDASSETS
Tangible assets 11 1,889,869 2,103,027 1,874,825 2,077,495
investments 12 10,000 10,000
1,889,869 2,103,027 1,884,825 2,087,495
CURRENT ASSETS
Stocks 14 54,831 54,559 48,994 49,839
Debtors 15 140,430 87,504 170,935 175,086
ln vestments 16 560,752 160,000 560,752 160,000
Short term deposits 200,000 732,766 200,000 732,766
Cash at bank and in hand 221,939 263,928 200,618 161,848
1,177,952 1,298,757 l,181,299 1,279,539
CREDITORS
Amounts
due &1 year		 17 ~730,175 ~773199 ~732,233 ~746 384
NET CURRENT ASSETS 447,777 525558 449,016 533155
TOTAL ASSETSLESSCURRENT LIABILITIES 2,337,646 2,628,585 2,333,841 2,620,650
CREDITORS
Amounts
due &1 year		 18 (332,619) (436,477) (320,884) (430,610)
NET ASSETS EXCLUDING PENSION LIABILITY 2,015,027 2,192,108 2,012,957 2,190,040
PENSION ASSETi(LIABf ITY) 22 2,658,000 (132,000) 2,658,000 (132,000)
TOTAL NET ASSETS 4,673,027 2,060,108 4,670,957 2,058,040
FUNDS 21
Restricted funds
Unrestncted
funds:
Designated funds
General funds 2,015,027 2,188,610 2,012,957 2,186,542
Non charitable trading funds
Pension reserve 2658 000 ~132000 2 658 000 ~132000
Total unrestricted
funds		 4,673,027 2,056,610 4,670,957 2,054,542
TOTAL FUNDS 4,673,027 2,060,108 4,670957 2,058,040

31.03.23 31.03.22
Notes
Cash flows from operating
activities		 (87,823) 723,594
Cash flows from investing
activities
Dividends,
interest and rent from investments		 12,116 302
Purchase ofinvestment (400,752) (160,000)
Purchase oftangible
Axed assets (including		 HP) (86,523)
Cash used on investing
activities		 (246,221)
Cash flows from financing
activihes
Repayment
ofborrowing
including
HP		 (98,296) (87,194)
Cash used in fmancing
activitjes		 (98,296) (87,194)
Increase I(decrease)
in cash and cash
equivalents
in the year		 (574,755) 390,179
Cash and cash equivalents
at the beginning		 ofthe year 996,694 606,515
Total cash and cash equivalents
atthe end ofthe
year		 421,939

31.03,23
Net incoming
resources before other recognised gains
and losses		 {258,081) (85,125)
Depreciation
charges		 213,158 226,291
Actuanal
pension scheme charges		 81,000 123,000
Dividends,
interest and rent from investments		 (12,116) {302)
{Increase) /decrease in stocks (272) (13,188)
(Increase) / decrease in debtors (52,926) 647,343
Increase
/ (decrease)		 in creditors {58,586) (174,425)
Net cash inflow from operating activities (87,823) 723,594
ANALYSIS OF CASH AND CASH aueALENTS
31.03.23 31.03.22
Short term deposits 200,000 732,766
Cash at bank and in hand 221,939 263,928
Total cash and cash equivalents 421,939
ANALYSIS OF CHANGES INNET FUNDS
At 1.4.22 Cash Row At 31.323
Net Cash
Cash at bank 996,694 (574,755) 421,939
Debt
Finance Leases {61,591) 35,996 (25,595)
Debts
failing
due		 (119,007) (2,352) (121,359)
within one year
Debts
faiiing
due		 (387,271) (322,619)
after one year
Total 428,825 (476,459) (47,634)

31.03.23 31.03.22
Restncted Total
f
Donation
Income		 51,429
The Group received fnfl (2G22:f51,429)ofgrant funding from the government's Coronavirus Job Retention Scheme (CJRS).
3. N4COIIIE FROM CHARITABLE ACTMTKS
31.03.23 31.03.22
Total Total
F
Funding
Income		 236,368
Leisure centres income 4,492,494 180,497 4,672,991 3,975,358
Sub-total for leisure centres 4,492,494 180,497 4,672,991 4,211,726
Civic Hall income 393,028 393,028 79,098
Sub-total for Civic HaN 393,028 79,098
Ofhce and cottage rent 25,740 26,090
Total income from charitable activities 180,497 5,091,759 4,316,914
4. INCOIIE FROM OTHER TRADING ACTAHTKS
3'f.03.23 31.03.22
Total
Golf club, shop and bar 152,358 152,358 131,777
152,358 152,358 131,777
31.03.23 31.0322
Restricted Totaf Total
E
Sofar panel investment Income
Interest receivable 12,116 12,116
12,116 12,116

31.03.23 31.03.22
Unrestricted Restricted Total Total
F f. F
Staff costs 183,820 183,820 160,369
Other trading costs 'I67,836 'l67,836 136,574
351,656 351,656 296,943
NALYSIS OF EXPENDITURE
Charitable
activities		 31.03.23 31.03.22
Cost of 0%ca and
raising Leis
ure		 cottage Governance Support
funds centr
es		 Civic hall rent costs Costs Total Total
F F F F 'Z
1,891,952 102,247 511,986 2,506,185 2,255,282
Promotion and publicity 92,310 45,154 137,464 68,304
Premises costs 1,192,567 44,646 202,670 1,439,883 1,054,085
Purchases for resale 162,352 56,991 219,343 226,912
Office administration costs 151,003 17,922 632,594 801,519 657,056
Audit and accountancy 21,944 21,944 8,814
Legal and professional 36,320 36,320 18,151
3,490,184 266,960 21,944 1,383,570 5,162,658 4288604
8,452 1,272,644 94,022 8,452 (1,383,570)
Governance costs 219 19,750 1,756 219 (21,944)
Total expenditure 2023 8,671 4,782,578 362,738 8,671 5,194,738
Total expenditure 2022 80,460 3,932,806 263,182 12,'156 4,288,604

31.03.23 31.03.22
Depreciation 213,158 228,291
interest payable 38,014 989
Opera5ng lease rentals 21,019 5,519
Auditors'
remunerahon
—Audit fee (parent) 11,085 8,314
—Other services (parent) 615 500
-Audit fee (subsidiary) 4,320 3,592
-Other senses 300 250
16,326 12,656

STAFF COSTS
31.03.23 31.03.22
E F.
Wages and salaries 2,287,945 2,018,072
Social security costs 152,458 130,103
Employer's
contribution		 to defined contribution pension schemes 143,602 144,476
Employer's
contribution		 to defined benefit pension schemes 99,000 98,000
Operafing cost ofdefined benefit pension schemes 7,000 25,000
2,690,005 2,415,651
The average monthly number ofemployees during the year was as follows:
31.03.23 31.03.22
Leisure centres 133 130
Civic hatt 12 2
Other trading
activities		 9
SMT 4 4
Support 6
147
31.03.23 31.03.22
F60,001 - f70,000 2 3
F70,001 - f80,000 1
F80,001 - F90,000
F90,001 - F100,000
F100,000-f110,000
f110,000-f120,000

Improvements
to hasehotd Totals
property
COST
At 1 April 2022 4,780,003 988,280 5,768,283
Additions
Disposals
At 31 March 2023 4,780,003 988,280 5,768,283
DEPRECIATION
At 1 April 2022 2,733,619 931,637 3,665,256
Charge hr year 174,468 38,690 213,158
Disposal
At 31 March 2023 2,908,087 970,327 3,878,414
NETKXN VALUE
At 31 March 2023 1,871,916 17,953 1,889,869
At 31 March 2022 2,046,384 56,643 2,103,027
Fixed assets, induded in the above, which are held under hire purchase contrads orImance leases are as toIows:
The Group Plant and
machinery
COST
At 1 April 2022 189,020
AddIons
Transfer to ownership		 ~7,080
At 31 March 2023 181,940
DEPRECIATION
At 1 April 2022 132,377
Charge for year
Transfer to ownership		 38,690
~7,08D
At 31 March 2023 163,987
NET SOOK VALUE
At 31 March 2023 17,953
At 31 March 2022 56,643

TANGIBLE FIEDASSETS —continued TANGIBLE FIEDASSETS —continued
The Charitable
Company		 Improvements Plant and
to leasehold Machinery Totals
property
'Z Z
COST
At 1 April 2022 4,633,886 860,189 5,494,075
Additions
Disposals
At 31 March 2023 4,633,886 860,189 5,494,075
DEPRECIATION
At 1 April 2022 2,601,648 814,932 3,416,580
Charge for year 1?1,023 31,647 202,670
Disposals
At 31 March 2023 2,772,671 846,579 3,619,250
NET BOOK VALUE
At 31 March 2023 1,861,215 13,610 1,874,825
At 31 March 2022 2,032,238 45,257 2,077,495
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
The Charitable
Company		 Plant and
machinery
F
COST
At 1 April 2022 163,323
Additions
Transfer to ownership
At 31 March 2023 163,323
DEPRECIATION
At 1 April 2022 118,066
Charge for year 31,647
Transfer to ownership
At 31 March 2023 149,7'l2
NET BOOK VALUE
At 31 March 2023 13,610
At 31 March 2022 45,257

The Charitable
ComPanY		 Shares in
group
Undertakings
COST
At 1 April 2022 10,000
Disposats
At 31 March 2023 10,000 10,000
AIIORTISATION
At 1 Apttl 2022
Eliminated
on disposal
At 31March 2023
NET BOOKVALUE
At 31 March 2023 10,000 10,000
At 31 March 2022 10,000 10,000

The group The charitable company
31.03.23 31.03.22 31.03.23 31.03.22
F F
54,831 54,559 48,994 49,839
Thegroup The charitabl company
31.03.23 31.03.22 31.03.23 31.03.22
Amounts falling due within one year: F F
Other debtors 3,528 1,530
Trade debtors 73,742 47,671 73,740 47,200
Amounts due from oker group members 32,715 88,328
Prepayments and accrued income 63,160 39,833 62,950 39,558
Taxation
140,430 87,504 170,935 175,086
URRENT ASSET INVESTlNENTS
The group The charitable company
31.03.23 31.03.22 31.03.23 31.03.22
Analysis ofcurrent asset investments: F F E
Cash or cash equivalents 560,752 160,000 560,752 160,000
560,752 160,000 560,752 160,000
REDITO RS: AMOUNTS FALLING DUE IIITHIN ONE YEAR
The group The charitable company
31.03.23 31.03.22 31.03.23 31.03.22
F E F
Trade creditors 215,181 258,801 199,893 258,511
Loans 121,359 92,418 121,359 92,418
Accruats and deferred income 303,171 287,536 291,558 266,744
VAT payable 9,375 8,531 9,243 9,628
Lease liability 25,595 38,974 21,623 32,644
Social Security and other taxes 33,116 66,054 33,116 66,054
CNher crm@ors 22,378 20,885 22,378 20,385
Amounts due to other group members 33,113
730,175 7731gg 732,283 746384

The group The charitable company
31.03.23 31.03.22 31.03.23 31.03.22
f E E
Lease liabilities due 2 —5years 1,735 22,617 'i6,750
Loan liabilities due 2- 5years 320,884 413,860 320,884 413,860
322,619 436,477 320,884 430,610

Equipment
31.03.23 31.03.22
E f
Within one year 7,581 3,241
Between one and five years 8,360 1,573
15,941 4,814
31.03.23 31.03.22
F
Nthin one year 54,250
Between one and five years 316,458
370,?08

Equipment
31.03.23 31.03.22
N)r&in one year 7,581 3,241
Betemn one and fle years 8,360 1,573
4,814
31.03.23 31.03.22
f
Within one year 54,250
Between one and five years 316,458
370708,
ANALYStS OFNET ASSETSBETWEHI FUNDS
31.03.23 31.03.22
Unrestncted Restricted Total
funds		 Total
lunds
funds funds
Fixed assets 1,889,869 1,889,869 2,103,027
Investments 560,752 560,752 160,000
Cunent assets 617,200 6'l7,200 1,138,757
Current
liabilities		 (730,175) (730,175) (773,199)
Long term liabilities (322,619) (322,619) {436,477)
Pension asset I(liabihty) 2,658,000 2,658,000 ~132,000
4,673,027 4,673,027 2,060,108
Analysis ofnet assets between funds —previous year
31.03.22 31.03.21
Unrestricted Restricted Total
funds		 To@i
funds
funds funds
Fixed assets 2,103,027 2,103,027 2,242,797
Investments 160,000 'f60,000
Current assets 1,135,259 3,498 1,138,757 1,382,733
Current Iiabities (773,199) {773,199) (901,390)
Long term liabilities (436,477) (436,477) (569,906)
Pension asset I(Iability) ~132,000) ~132,II00) ~I,065,0lm)
2,056,610 3,498 2,060,108 1,089,234

At the start Incoming Outgoing Transfers AtSeend of
ofthe year resources resources and gains the year
f f
Restricted funds:
Leisure Centre 3,498 180,497 (183,995)
Total restricted funds 3,498 180,497 183,995
Designated
funds
General funds ofTCL 2,186,542 4,922,978 (4,931,492) (165,069) 2,012,959
General funds ofTCL Trading 2,068 184,838 349,907 165,069 2,068
Total general funds 2,188,610 5,10?,816 5,281,399 2,015,027
Pension fund (132,000) (81,000) 2,871,000 2,658,000
Total unrestricted funds 2,056,610 5,107,816 5,362,399 2,871,000 4,673,027
Total funds including pension
fund 2,060,108 5,288,313 5,546,394 2,871,000 4,673,027
At the start Incoming Outgoing Transfers At the end of
ofthe year resources resources and gains the year
E E
Restricted funds:
Leisure Cenbe 560,870 477,614 (966,525) (68,461)
Total resbicted funds 560,8?0 477,614 966,525 68,461 3,498
Unrestricted
funds:
Designated
funds
General funds efTCL 1-,5&4,295 +Q48;031 (3:,366;NS) — — (96;706) — 2,186-,542
General funds ofTCL Trading 2,068 131,777 296,943 165,166 2,068
Total general funds 1,593,363 4,179,808 3,653,022 68,461 2,188,610
Pension fund (1,065,000) (123,000) 1,056,000 (132,000)
Total unresbicted
funds		 528,363 4,179,808 3,776,022 1,124,461 2,056,610
Total funds including pension
fund 1,089,233 4,65'7,422 4,742,547 1,056,000 2,060,108

The am ounts
recognised		 in the balance s heet are as follows:
Defined benefit pension
plans
31.03.23 31.03.22
Present value offunded obligations (4,056,000) (8,756,000)
Fair value ofplan assets 6,714,000 8,626,000
2,658,000 ~132,000)
Surplus / (Deficit) 2,658,00D ~132,000)
Asset / (LiaMity) 2,658,000 ~132,000)
The amounts
recognised		 in the statement offinancial activities are as follows:
Defined benefit pension plans
31.03.23 31.03.22
Current service cost 173,000 195,000
Net interest from net delined benefit asseNiabitity 2,000 21,000
Administration
expenses		 5,000 4,069000
Actual return on plan assets 220,000

Defined benefit pension
plans
31.03.23 31.03.22
'Z E
Opening
defined benefit		 obfigabon 8,758,000 9,084,000
Current service cost 173,000 195,000
Past service cost
Contributions
by scheme		 participants 31,000 30,000
Interest cost 226,000 184,m
LiabiTNes assumed
(extinguished)		 on settlements
Actuarial
losses/(gains)		 (4,845,000) (466,000)
Change
in demographic		 assumptions (147,000)
Benefits paid ~140,000) ~269,000)
4,056,000 8,758,000
Defined benefit pension
plans
31.03.23 31.03.22
F
Opening
fair		 value ofscheme assets 8,626,000 8,019,000
Interest on assets 224,000 163,000
Administration expenses (5,000) (4,000)
Contributions by employer 99,000 97,000
Contributions by scheme participants 31,000 30,000
Expected return (194,000) 590,000
Other actuarial gains/(losses) (1,927,000)
Benefits paid ~140,000) ~269,DIN)
6,714,000 8,626,000
The amounts recognised in other recognised gains and losses are as follows:
Defined benefit pension
plans
31.03.23 31.03.22
f. E
Actuarial gains/(losses) from changes in demographic assumptions 147,000
Actuarial
gains/(losses)		 4,845,000 466,000
4,992,000 466,000

plans
31.0323 31.0322
Equities 58% 60%
Gilts 1'/ 2%
Other bonds 0% 4%
Property 8% 8%
Cash 3% 3%
Other managed funds 14% 10%
Alternative assets 16% 12%
31.03.23 31.03.22
NOOs FOOOs
Equities 3,868 5,179
Gilts 98 206
Other bonds 378
Roperty 550 707
Cash 216 219
Other managed funds 919 871
Alternative assets 1,063 1,066
6,714
Projected employer contnbutions forthe year ending 31March 2024 are L'105,000.
Principal actuarial assumptions at the balance sheet date (expressed as weighted averages)
31.3.23 31.3.22
Discount rate 4,80% 2.60%
Future salary increases 4.00% 2.00%
Future pension increases 2.90o/o 3.15'/o
The folhwing table sets out the impact ofa small change in the discount rates on the de5ned benet obligallon
and projected service cost along with a+I-1 year age rating adjustment tothe mortNty assumption:
Adjustment to discount rate +0.1% 0.0% -01%
Present value oftotal obligation 3,980,000 4,056,000 4,134,000
Projected service cost 83,000 85,000 87,000
+0.1% 0.0% -0.1'/o
Adjustment to long term salary increase
Present value oftotal obligation 4,065,000 4,056,000 4,047,000
Projected service cost 85,000 85,000 85,000
+0.1'/o 0.0o/o -0.1%
Adjustment to pension increases and deferred
revaluation
Present value oftotal obligation 4,126,000 4,056,000 3,998,000
Projeded service cost 87,000 85,000 83,000
Adjustment to iife expectancy assumptions +1 year -1 year
Present value oftotal obligation 4,188,000 4,056,000 3,928,000
Projected service cost 88,000 85,000 82,000
Page (49