2022-03-31-accounts

BOLTON MIDDLE8ROOK iEISURE TRUST FINANCIAi STATEMENTS 31 MARCH 2022 Registered charity No: 1087039 Registered company No: 04165498 llllWllMIMWI 'A8CWSICQ' 12111r2022 COMPANIES HOUSE A15

196

BARLOW ANDREWS LLP CHARTERED ACCOUNTANTS BOLTON

BOLTON MIDOLE8ROOK LEISURE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 CONTENTS Reference and adrninistrative information Tru5tees' report Independent auditorf5 report 8-10 statement of financial activities li Group and company balance sheets 12 Group statement of cash flows 13 Notes to the financial statements 14-27

BOLTON MIDDLEBROOK LEISURE TRusr TRUSTEES. REPORT Referen￿ and adminFstrative infomation Charity Name.. Bolton Middlebrook Leisure Trust Also trades under the name of Bolton Arena Charity registration nurnber.. 1087039 Company registration number: 04165498 Registered offi¢e and operaiional address.. Bolton Aren Arena Approath Bolton Trustees Mrl Byrne Mrj M McBrien MrAElones Mrs S A Hilton Mr A M3tthaiou Mr M Pollitt Mr NAyub Mrs M Brady Chair Appointed I january 2022 Appointed 8 July 2022 Appointed 5 July 2022 Secretary Mr N Hutchinson Senior Management Team Mr N Hutchinson Mr S Sharrock Mrs S Hayes Mr J Ashley MrSKay Mrs K Platt Managing Director Operation5 Manager Head of Partnerships & Communities Head of Commercial Head of Sport Head of Human Resources Auditar Barlow Andrew5 LLP, Carlyle House. 78 Chorley New Road. Botton Bankers The Co-operative Bank PLC, Know51ey Street, Bolton Santander Corporate & Commercial 8ankin& Bridle Road. Bootle 50licitors DWF Solicitors. I Scott Place. Manchester

BOLTON MIDDLE8ROOK LEISURE TRUST TRUSTEES, REPORT (Continued) The trustee5. who are also directors of the charity for the purposes of the Companies Aci, present their annual report and the audited financial statements for the year ended 31 March 2022. The finanaal statements have been prepared in accordance with the accounting policies set out in note I to the financial statemen15 and comply with the companvs Memorandum and Articles of Association, the Charities Art 2(>ll and "Accountin8 an(5 Reporting by Chaiities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finantial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective I january 20191" structure. governance and management Governing document Bolton Middlèbrook Leisure Trust b5 a cornpany limited by guarantee, irbcorporated on 22 February 2001 and registered as a charity on 18 June 2WI. The company was established under a Memorandum of As50Clation which established the objects and powers of the charitable company and is governed under its Artides of Association. The company meets the definition of a public benefit entity under FRSIO2. Trustees The trustees. who are also director5 of the charity for the purposes of company law. are the members of the company. As the company is limited by guarantee they have no interest in share capitsl. The liability of members is limited to £10 each. The trustees in post at the date of this report are as listed on page l. In addition. the following trusiees also served during the year but resigned on the dates given.. Mr A Ouckworth115 February 20221. Mr P Holliday IIS February 20221. Mr JR Holden11 March 20221, Dr W Bhatiani131 July 20221 and Mr A Zaman11 Ortober 20221. All trustees give their time freely and no trustee remuneiation was paid during the year. Details of trustee~out of pocket- expenses are disclosed in the accounts. Trustees are required io disclose all relevant interests and register them with the company secretary and. in accordan￿ with the Bolton Arena policy, withdraw from deosions where a conflith of interesi may arisè. Recruitment ond uppointment oArru5tees The recruitment and appointment of Trustees at Bolton Middlebrook Leisure Trust follows the conditions established within the Company's Memorandum and Arti¢les of As$0¢iation. Board members are made up from the followinÉ categories= Maximum Local Business Education The Borough Council of Bolton/Public Authorities Inot being local Authoritie51 Local Recreational and Voluntary organisations io Trustee induction and troining All trustees undergo an official indLFCtion Into the workings of Botton Mitldlebrook Leisure Trust. The induction covers: The obligations of Board members and their responsibilities. The main document5 which set oul the Arena's mission. vision and values. Financial background and key strategic priorities. Future plans and priorities. Memorandum and Articles.

80LTON MIOOLEBROOK LEISURE TRUST TRUSTEE5' REPORT {Continuedl Related porties Certain trustees have an association with companies and organisations that vse the Trusys facilities. including Emerson, Bolton Countil, Age UK Bolttsn and Orseal. These are undertaken in accordance with the charitvs normal terms of business and on an arm's length basis, which the charity is able to demonstrate. IT support is also provided by Digi¢om. whose managing directoi is a trustee of the charity. Any discussions surrounding the supply of IT services would exclude the related trustee. Organlsatlon structure The organisation stru¢ture of Bolton Middlebrook Leisure Trust is that the Board of Trustees is responsible for the governance of the Trust and the day to day iunnin8 IS the responsibility of the Managing Director and appoinled rnanagers within the predetermined levels of authority. The Board of Trustees meets quarterly, along with the senior management team and detemiines the strategic dirertion of the charity. The Board currentty has 8 members from a variety of backgrounds. The day to day responsibility and management of the Arena rests with the senior management team. The Managing Director has overall responsibil￿tY for delivering the aims and objecti¥es of the Trust. ensuring that Bolton Arena serves all 5eciion5 of the local communitv. The pay and remuneration of the Managing Director is approved by the Board and reviewed on an annual basis in line with performance. The Managing Director makes annual appraisals of senior staff to a￿e$S performance against agreed objecrives and r￿lewS pay on an annual basis. There is a wholly owned subsidiary of the Trust. Bolton Arena Trading Limited. whith provide5 caterin8 and retail facilitie5. It pays a monthly management charge to the charity and is managed by the Operations Manager of the Trust. Other relationships Bolton Council owns the sports and leisure premises occupied by the Trust. The Council has appointed the Trust lo operate and manage the sports and leisurè facilitiès. under a 25 year management agreement that commenced in 2Crf)l. A5 part of Ihis agreement the Charity must pay an agreed amount each year into a fund held by Bolton Council.. known as the sinking fund, which 15 to be used against future repaiis of the buildin8. Funds for repairs may be claimed from thi5 fund in writing from the Council. During the curreni financial year. the Trust was not required to contribute towards this fund, given the impact of the coionavirus pandemic. Risk management policy The trustees have assess￿ the Major ri5k5 to which the charity is exposed. in particular those related to the operations and finances of the Trust and are Satisfied that adequate systems are in place to mit4qate our exposure to the major risks. Objectives and activities The charity 15 established to provide world class facilities. programmes an(1 events that inspire people of all ages. backBrounds and abilities to follow a lifelong passion for swrt and healthy activities. Prin¢ipol o¢tivities ond objectives The activities of the charity ale to provide or assist in providing facilities for recreation. physical education or other leisure time occupation for the general benefit of those living and working in Bolton antl it5 surrounding neighbourhood. In addition. to educate and assist young persons from these a￿8$ thiough leisure artivities. to develop their physical. mental and spiritual capacities so that their condition of life may be irnproved and. in furtherance of that objective, to make available to them the facilitie5 provided by the charity. lecture classes. training and coaching facilities. The Arena has also diversified into orBanising and hosting major national and international events. Each year the trustees review the objectNes and activities of the charity to ensure they continue to refiect our aims. In carrying out thi5 review, the trustees have considered the Charity Commission'5 general guidance on public benefit and the trustees are more than satisfied that they do. as refiected in the achievements and performan￿ in the year.

BOLTON MIDDLEBROOK LEISURE TRUST TRUSTEES. REPORT (Continuedl Achievements and perfomiance The year has been challengit)g after the inthal recovery from COVID. With rises in national minimum wage. national insurancè and a general rise in our operatln8 COSt5, the ability to generate a Surplus has been 5queeied. Boltorb Arena staff have all worked really hard to generate new ideas and brire in new business to ensure we are maximisi08 the u5a8e and income from facilities and operations. Conferencing is something that has been slower than most areas to recover. with some booktngs not having returned or having reduced permanently due to hybridlremote working. The cafe 15 an area that has also been Slower to recover and suffered from a very high turnover of staff over the last year. We have also been working hard with Bolton Council and other stakeholder5 to re-focus and ensure we are aligned with the Bolton Council vision and oui charitable objectives. This has resulted in co-location of Bolton Council sports development team'sport in Bolton, and several allocations of HAFF fundinB for holiday artivitie5 durin8 the school holidays and we continue to build on this relationship. We were finalists in thè local Bolton Business awards and are now 3150 finalists in the national fitne55 awards in December in the Leisure Trust Gym of the Year category. Inve5trnent into the equipment ondfocilities Capital investment 15 something that has been a priority after being 2-3 year5 behind with the sinking fund investment against the building condition survey. Procuring new boilers and project managing the inst311 before winter has been a major project. We have a150 invested over £250k into general decoration, chanBin8 upgrades and maintenance. This pro8ramrne will continue into 2023124. Pro8re55 has been slow. mainly due to the constraints and resources of Bolton Council and its partners. Progromming ondsports Edu¢otion The development of Bolton Arena as a sporting hubforthe ¢ommunrty is something that has been a priority to re-establish nd grow post-covid. Our partnership with Horwich Hèrriers has been renewed and refreshed, resulting in several new running groups and planned Santa dash in Oecember. Our partnership with A£e UK has continued to thrive over the last year with some real success with walking football. We are a fvll member of the newly formed CIC charity GM Active. working collaboratively with other leisure trusts across Greater Manchester. This has continued to grow over the year. with potenrially more access to fundin& and we have had staff access the transform3tion leadership course run by the(n. We participated in a cancer pre-hab pilot programme, and this is something that is further developing across Greater Manchester. GM Active is a collective of 12 leisure and comrnunity or8anisation5 from acr055 Greater Manchester that are all part of the sarne movement to get more people physically active_ The group accounts for 87 letsure and sports facilities across the region, with a combined reach of 30 million visits a year. playing a major role in the health of our cornrnunitie5. This will support us in growing our customer base and increasing our social value across BL)Iton.

BOLTON MIODLE8ROOK LEISURE TRUST TRUSTEES. REPORT Icontinued) Tennis We continue to be recognised as a regional player development centre. A staff restrurture and recruitment of a Head of rennis Performance has further cemented our position as one of the UK'S leading centre5. We have also maintaine(l our increased focus upon junior course5 and cornmunity outreach tennis within schools. the local parks and clubs, along with developing our own tournament schedule. Our outreach and community tenni5 program encourage5 and facilitates multiple groups to try terbnis. We continue to host large national and inteinational tournaments throughout the year. Footbollond outdoor Bolton Arena b035ts nine artificial football pitche5, along with an 11-a-5ide grass pitch and a six-laAe running track. Five thousand customers each week utilise the facilities for their fitness. trnining and competition requirements. The 5-a-side league programme 15 well recognised within the community for the quality of its produtt,. 130 teams now play iegularly in organi5ed leagues throughout the week. More recently. Arena Football has introduced a walking football programme. giving men aged 50 and over the chance to play football in a socially organised environment. Women's walking football has also been launched and we have had early success at a national level and are blazing the trail with women's walking football. Flnan<lal Review The Trust reported a net surplus of £263,898 on its consolidated statement of financial attivities. with the charity itself reporting o net surplu5 of £250.122 for the year. Principolfunding source5 The majority of the Trusys income is Eenerated from the sportin& recreational and educational activities that take place within the facility. Included in other income is monies received from Bolton Council. Grant funding is received from the Lawn Tennis Association and is in respect of Perfo¥rnance Tennis. This income is included within Charitable activities. Trading activities include revenue frorn the trading subsidiary, revenue frorn the management of a local school's sports facilities which are made available to the general public. rental income from spare office space within the premises and ear parkinB, advertisin8 revenue and sponsorship of the Arena's name. Inve5tmentpolicy There are currently few funds available for longer term investment. as such cash balances are managed to ensure any balances not required for dairy working capital are placed in interest bearing deposit accounts. Once the Trust is in the position to considei other investment opportunities a more detailed investment policy will be considered by the Trustees. Reservespolicv The Trust will hold in specific reserves amounts relating to a repairs and renewal fund. Thts ensure5 the general fabric of the Arena is maintained. The detailed profile for the expected value of these funds is given in the Management Agreement. In addition, the Trust intends to target an annual surplus in the region of 4% of turnover in ordeT to generate a general free reserve which should equate to 6 months of salary and fixed running costs. The general free reserves will be available to meet any shortfall between the anticipated income and budgeted outgoings and any unforeseen expenditure. It will also be available to aS$15t in the funding of new activities not foresèen in future budgets. At 31 Maich 2022. the individual chariivs free reserves were £656,041 Ibein8 unrestritted funds le55 designated funds and fixed assets).

BOLTON MIDOLEBROOK LEISURE TRU TRUSTEES, REPORT (Continued) Covid19-going concern The Coronavirus pandemic has had a major impact on the organi5atH)n, a5 substantial periods of enforced ¢losure have pl3tÈd significant challenges on the Trust. As a result of the strong financial position goin8 into the pandemit, the organisation has been able to weather the storm. Looking forward and taking into account Ouf reserves and cashflow positions, combinèd with projertions for the year ahead. we are confident that the Trust will be in a position to continue and return to its longer-terrn strategic goals. Employees Our employees are the most important ingredient in our success. We employ over I￿ people and are committed to their welfare and personal development. We offer competitive terms of employment and have a robust personal appraisal 5YStem. After Kathryn Platt our HR manger retired. we now work wth a specialist HR consultant CUBE who support our HR funrtion and senior team this is still in its early stages. and we will review in early 2023. Disabled person5 are not treated less favourably than the r￿n-diSabIed persons. Reasonable adiustrnents are made to give a disabled person as much access to any service and the ability to be employed. trained or promoted as a non-disabled person. We communicate re8ularly wilh our employees throu8h monthly team meetings and bi-annual whole staff meetings to help maintain a healthy work force and promote advocates of the servsce we manage. Finonciol Perforn?once The trustee5 consider a number of key performance indicators, both ffinancial and non-financial. 2022 2021 Turnover 2.296.830 263.898 1.310.736 1190.304} Net surpluslldeficitl Total health & fitness members 2.493 2.256 Income has risen by £986.094. which reflects an increase in charitable activities of £1,211,384 and in trading activities of £293.361. In contrast, other operating income, which largely cornpri5es CJRS income, has fallen by £527,627. The movements in incorne reflect the easing of the coronavirus pandemic during the year. with resultant lockdowns having a significant impact on healih and fiiness memberships and vtsris io the Arena in the prior year. with the centre remaining closed for large periods. At 31 March 2022, the Group had total reserves of £1.162.45912021.' £898.5611 of which £107.36312021= £104.7221 were restricted funds and £311.91012021'. £334.9811 had been designated to the building Mainlenan￿ fund which will be spent as and when required. Plans for future periods Some of the areas we will be focussing on in the Coming year are= Refurbishment and upgrade of the conferencing areas. GrowinB our involvement and our workforce to enable us to respond to funding opportunities artsing out of Greater Manchester-widè health and wellbeing programs. specifically through our invofvement with GM Active. an association of Leisure Trusts covering all 10 boroughs wiihin the area. CompletinB and rolling out our marketing and brand review. Cafe & h05Pitality review and UP8Tade or facilities and type of offer.

8OLTON MIDOLEBROOK LEISURE TRusr TRUSTEE¥ REPORT (Continuedl Responsiblllties of trustees Company law requires the director5 of the charity Inamely the trustees) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming and application of re50urce5, including the income and expenditure of the charitable company forthat year. In prepaiin8 these financial statements the trustees are required to.. select suitable accounting policies and then apply them consistentlv- make judgernents and estimates that are reasonable and prudent- state whether applicable accounting standafds have been followed, subject to any material departures disclosed and explained in the financial staternents- prepare the financial statements on the going concern basis unless tt is inappropriate to assurne that the charity will be able to continue to meet ils objettives. The trustees are responsible for keeping adequate accounting records which disclose with reasonable a¢cvra¢y at any tirne the financial position of the tharity and to enable them to ensure that the finantial statements comply with the Companie5 Act 2006. They are also responsible for safeguarding the a55ets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or othef irregularitie5_ Further, the trustees are responsible for prèparing thèir Trustèès. RÈportwhTch should disclose the legal arbd administrative details of the charity and conlain a narrative report explainin8 the or8anisation's objects, a review of the development, activities and achievements of the charity durin8 the period and of its financial performance and position. Staternent of disdosure to auditors So far as we are aware. there is no relevant audit information of which ihe compan¢s auditors are unaware.. and as the directors of the company we have taken all steps that we ought to have taken in order to make ourselves aware of any relevant audit information and io establish that the ¢haritVs auditors are aware of that information. Auditor A resolution for the reappointment of Barlow Andrews LLP as auditor is to be proposed at the forthcominÈ Annual General Meeting. The trustees recommend that Barlow Andrew5 LLP remain in office until further notice. Your attention is drawn to the fau that the charity has prepared accounts in accordan¢e with Accounting and Repolting by Charities preparing their accounts in accordance with the Financial Reportrng Stan¢Jard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and ReportinE by Charities.. Staternent of Recommended Practice issued on l April 2005 which 15 referred to in the extant regulations but has not been with¢Jrawn. We understand that this ha5 been done in order for the accounts to provide a true and fair view in èccordante with UK Generally Accepted AccountinB Practice. This rèport is approved by the trustee5 on 7 November 2022 and signÈd on tts behalf by Mr J Byrne Trustee

INDEPENDENT AuD￿01V5 REPORTTO THE MEMBERS OF BOLTON MIDDLEBROOK LEISURE TRU Opinion We have audited the financial statements of Bolton Middlèbrook Leisure Trust Ithe'parent companVI for the year ended 31 March 2L)22 whi¢h Cornprise ihe Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Group Statement of Cash Flows and notes to rhe fjnancial siaiements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including the Financial Reporting Standard 102, applicable in the UK and Republi¢ of Ifeland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial 5tstements= give a true and fair view of the state of the group and charitable compan￿5 affairs as at 31 March 2022 and of the group's incoming resources and application of resources for the year then ended., have been properly piepared in accordance with Vnited Kingdom Generally Accepted Accounts"ng practi￿.. and have been prepared in accordante %wth thè requiremènts of Companiès Act 2006. Basis of opinion We conducted our audit in accordance wilh International Stsndards on Auditing IUKI IIW IVKII and applicable law. Our responsibilities under those standard5 are fvrther described in the Auditor's respon5ibilttie5 for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. includinE the FRCS Ethical Standaid. and we have fvlfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu5i0ns relatin8 to going concern In auditing the financial statements. we have conduded that the trusiees. use of the golng concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertaintie5 relating to events or conditions that, individually of collectively, may cast significant doubt on the group's ability tocontinue as a going concern for a period of at least twelve months from when the finanoal statements are authorised for issue. Our responsibilities and resptsn5ibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Informatlon The other infoimaiion comprisès the inforfflation included in the annual report, other than the financial statements and our auditorf5 report thereon. The trustee5 are responsible for the other information contained within the annual report. Our opinion on the financial statements does noi cover the other infomiation and. exceptto the eMent oiherwise explieitly stated in our report. we do not express any form of assurance contlu5ion thereon. Our responsibility is to read the other inforrnation and. in doinE so. consider whether the other Information is materially incon515tent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistències or apparent material mi55tatements, we are required to determine whether this gives rise to a material misstaternent in the financial statements themselves. If. based on the work we have peiformed. we conclude that there is a material misstatement of this other informaiion, we are iequired to report that fact. We have nothing to report in this re8ard. Opinion on other matter prescribed by the Companies Act 2006 In our opinion based on the work undertaken in the course of our audit= the information Èiven in the trustee5' report. which include5 the directors. report prepared for the purposes of company law, for the financial year for whith the financial ststements are prepared is consistent with the firbancial statements.. and the direuors. report included with>n the trustees, report ha5 been prepared in accordance wsth applicable legal requirements.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF 8OLTOII MIDDLEBRI)QK LEISURE TRUST Matters on whi¢h we are required to report by exception In light of the knowledge and understanding of the group and Its environmeni. obtained in the course of the audit. we have not identified material misstatements in the directors, rèport included within the tru5tees' report. We have nothing to report in respect of the following matters in relation to whKh the Companies Aa 2006 requires us to report to you if. in our opinion.. adequate accountinB records have not been kept. or returns adequate for Qui audit have not been received from branches not visited by us- or the financial statèments are not in agrèement with the accounting records and returns,. or rtain disclosures of trustees. remuneration specified by law are not made- or we have not received all thè information and explanations we require for our audit. ResponslbllStles of trustees As explained more fully in the statement of trustees. responsibilities. the trustees (who are also directors of Bolton Middlebrook LeisureTrust for the purposes of company lawl are responsible for the preparation of thefinancial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for a55e55in8 the group and the charitable companrfs bility to continue as a gosng concern. (Jisclosin& as applicable, matlers related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objertives are to obtain reasonable assurance about whether the financial statements as a whole are free from material mi5Statement. whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but 15 not a guararbtee that an audit conducted in accordance with ISAS IUKI will always deiett a material misstatèmÈnt when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonabty be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance with laws and regulation5. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities including fraud. Our approach to identifying and assessing the risks of material missLitement in respect of irregularities. including fraud and non<ompliance with laws and regulations. wa$ 3$ follows= the engagement partner ensured that the engagement team collectNely had the appropriate competènce, capabilities and ski115 to identify or recognise non-compliance with applioble laws and re8ulation5,' we identified the laws and ￿gUlatIonS applicable to the group through discussions wth trustees and other management. and from our commercial knowledge and experience of the tharity 5ÈCt0r; we focused on specific laws and regulations which we considered may have a direct rnaterial effed on the finanoal statements or the operations of ihe group. including the Companies Act 2LX16. taxation legislation and data protection. employment and hèalth and safety legislation; we assessed ihe extent of compliance with the laws and regulations identified above through making enquirie5 of rnanagement.. and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the group's and the companvs ffinancial 5tatÈments to rnaterial rni55tatement, includinB obtaining an understanding of how fraud might occur, by: making enquiries of rnana8ement as to where they considered there was susceptibility to fraud, their knowled8e of actual, suspected and alleged fraud,. and considering the internal controls in place to mitigate risks of fra¢Jd and non-compliance with laws and regulations.

INOEPEMDENT AUD￿OR.5 REPORTTO THE MEMBERS OF BOLTON MIDDLEBROOK LEISURE TRUST To addre55 the risk of fraud through management bias and override of controls, we= performed analytical procedures to identify any unusual or unexpetted relati¢)nships.' tested journal entries to identify unusual transaction5- and assessed whether judgements and assumptions made in determinin8the accountin8 estimates were indlcatlve or potential bias. In response to the risk of irregularities and non-complian￿ with laws and regulations. we designed procedures whTrch included, but were not limited to.. agreeing financial statement di5c105ures to undertying supporting do¢umentation- reading the minutes of meetings of those char8e(I with 8overnance,' and enquiring of management as to actual and potential litigation and daims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions. the less likely it is that we would become aware of non-compliance. Auditin8 standards also limlt the audit procedures required to identify non-compliance with laws and regulat¢ons to enquiry of the directors and other management and the in5pertion of regulatory and le881 corrèspondence. if any. Material mlsstatements that arise dueto fraud can be harder to detect than th05ethat arise from erior as they rnay involve deliberate concealment or collusion. A further description of our responsibilitie5 for the audit of the financial statements 15 located on the Finèncial Reporting Council's website at.. www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditorfs report. Use of our report This report is made solely to the group and charitable compan*Ks members. as a body. in accordance with Chapter 3 of Part 16 ofthe Companies Att 2006. Our audit has been undertaken so ihatwe might state to the charitable cornpan￿$ members those mattels we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assurne responsibility to anyone other than the charitable company and the members as a body. for our audit work. for this report. or for the opinion we have formed David A Kay FCA (Senior statutory Auditor) For and on behalf of Barlow Andrew5 LLP Chartered Accountants arKI Statutory Auditor Carlyle House. 78 Chorfey New Road. Bolton 7 November 2022 io

BOLTON MIDDIEBRCQK LEISURETRusr CI)14%XIDATEDSTILTEME•JTOF FINANC1ALAcTN￿ li￿V￿1r￿ INCOktEAND EXPENIXWRE ￿(OV￿lI OR THEVEAREfiuED31 VJlARQIIQZ2 2022 20ZZ Totsl F￿nts 2011 unr￿triCted Fund5 2021 2021 Total Funds Fur Funttj Intome Grants- Natlonal Lotteryc￿￿￿ ftectrffjsuppjrt Charltable act￿tI 122.870 (07 12270 L688.643 397.(Y38 L724 e6.49S 1.&)8.636 397.r68 1.724 86.495 521.319 103.737 2.748 614.122 68.810 590.129 103.717 2.748 614.122 Invesirnent5 Other operatin8 ￿COrn T4X?15n¢ 2.IYJ3.9S3 202.877 129630 L241.9 68.810 1.310.736 Expoadituroon 216.992 L738.S7S 216.932 IAIs.yI 205.248 1.272.192 205,148 1,195,792 Charitable 3ctNhtle5 77.366 23.f Total ewenditwe 1.gSS.S67 1032.933 L477.440 23,frfX) 1.501.NO Net ￿to￿tI1¢x￿ditUrt1I￿tthtvtlr 125,511 63,897 1235.5141 4S.210 190.3041 Transfer5 belween fut￿5 movement In lynd5 s.sii 263A97 45,210 119D.3041 Retortiliatlohkn fvnds Total fun¢sbroueht lotward 793I39 101.722 89&551 L029.353 S9.512 1.088,865 Total Funds carrlQdf￿rnard 932.32S 230.233 I.I62.458 793.839 104.722 898,561 Thesioiemeni of Financial ActMtsesinthdE54nywknidk￿￿srec¢V¥5ed*ith￿￿r. All Incomeand expenditureis derNed tr￿

BOLTON MIDDLEBROOK LEISURE TRUST CONSOLIDATED AND CHARITY BALANCE SHEETS AS AT 31 MARCH 2022 Group 2022 Charity 2022 GfOUP 2021 Charity 2021 Notes Fixed Assets Tangible assets Investment5 14 15 89.457 86.283 115,636 109,947 89,457 86,284 115.636 109.948 Current Assets Stock Debtors Bank and cash balances 12,281 214.878 1.143.007 6.797 90,033 956,212 16 276,739 1.084,083 125,625 940,978 1.370.166 1.360.822 1.053,042 1,066,603 Credltors: amounts falling due within one year 17 1297.1651 1285,5081 1270,1171 1265,0751 Net current assets 1.073.001 1.075.314 782.925 801,528 Total assets less current liabilities 1,162,458 1,161,598 898,561 911.476 Net assets 1.162.458 1.161.598 898.561 911,476 Total funds of the charity Unrestricted income funds General Designated 19 19 620.315 311,910 619.455 311,910 458.858 334,981 471,773 334,981 932,225 230.233 931,365 23Q.233 793,839 104,722 806,754 104,722 Restrlcted funds 20 Total reserves 1.162.458 1,161,598 898,561 911,476 As permitted by S408 Companies Act 2CI)6. the company has not presented its own profit and1055 attount and rèlated notes. The company's profit for the year was £250.12212021.' £163.659 loss). These actounts are preparÈd rn actordance with the swial provisions of part 15 of the Companies Act 2006 relating to small companies. The financial statements were approved by the Board ofTrustees and authorised for issue on 7 November 2022 and signed on it5 behalf by.. Mr J Byrne Trustee Company reglstratlon number 04165498 12

BOLTON MIDDLE8ROOK LEISURE TRU GROUP sTATEME1￿oF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 Notes 2022 .2021 Net cash generated byllused inl operating actiwties 22 201.694 1144.754 Cash flow from Investing artlvities: Purchase of plant and equipmènt Interest received 116,6231 1,724 19,1501 2,748 Net cash used in irt¥esting actNities 114,8991 16,4021 Net change in cash and cash equivalents in reporting period Cash and cash equivalents at l April 2021 186,795 956.212 1151.1561 1.107.368 Cash and cash equivalenis at 31 Marth 2022 23 1,143,1)07 956,212

BOLTON MIDDLEBROOK LEISURE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MAItCH 2022 Accountlng policres Company Information Bolton Middlebrook Leisure Trust l-the companf l is a charitable company limited by guarantee, incorporated in England and Wales. The re￿stered office is Bolton Arena. Arena Approach. Bolton. In ihe event of the charity being wound up, the liability in ￿SpeCt of the guarantee ts limited to £10 per member of the charitv. The group consists of Bolton Middlebrook Leisure Trust and its substdiary Bolton Arena Trading Limlted. ounting conventlon The financial Statements have been prepared in accordan￿ with the Statement of Recommended Practice.. Accounting and Reporting by Charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irelarml IFRS 1021 issued in October 2019 aThl the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applie5 from l January 2019. The financial statements are prepared in 5terlin& whTrch is the functional currency of the charitable company. Monetary amounts in these financial statements are founded to the nearest £. The finanoal statements have been prepared on the historic cost convention. The principal a¢¢ountin8 policies adopted are Set gut below. Bolton Middlebrook Lersure Trust meets the definition of a public benefit entity under FRSIO2. Basis of consolidation The con501idated financial statements incorporate ihose of Bolton Middlebrook Leisure Trust and its subsidiary. All the financial statements included in the consolidation have been made up to 31 March 2022. All intra£roup transactions. balances and unrealised gains on transactions between group companies are eliminated on consolidation. Going concern At the time of approving the financral statements. the irustees have a reasonable expectation that the companv has adequate resources to continue in opeiational existence for the foreseeable future. Thu5 the trustee5 continue to adopt the going con￿rn basis of accounting in p￿parK￿Bthe financial staternents. Fund accounting General funds are unrestricted funds whith are available for use at the discretion of the trustees in furtherance of the objects of the charity without fvrther purpose and whith have not been designated for other purpose5. Designated funds are unrestricted funds set aside by the trustees for particular purposes. Restricted funds are subject to restrictions on their expenditure imposed by the donor. Expenditufe whith meets this criteria is charged to the fund together with a fair allocation of overhead costs. 14

80LTON MIDDLEBROOK LEISURE TRUST NOTES TO THE FINANCIAI STATEMENTS YEAR ENDED 31 MARCH 2022 Income Income is recognised when the charity has entitlement to the funds. any performance conditions attached to the items of income have been met. it is probable that the income will be recèived and the amount can be measured reliably. The specific bases used are as follows.. Voluntary income includes, where applicable, donations, gifts and certain grants receivable Investment in¢ome and health and fitne55 income 15 accounted on a receivable basis Rental income is accounted on a receivable basis over the life of the lease Charitable artivity. tradingand merchandisingincome is account￿ fi)rwhèn earned. Activity intome received in advance is defèrred until entitlement to ihe income ha5 arisen at which time it 15 credited to the statement of financial activities Grant5 are recognised when the entitlement to the grant 15 confirmed. Grants for the purposes of equipment and towards activities are credited in full to various activities in furtheran￿ of the charitys objective5 in the year in which they are r￿1ved Health and fitness memberships are re¢o8nrse(J on re￿Ipt of funds as they are non-refundable On￿ the contract ha5 been signed. Expenditufe and Irrecoverable VAT Expenditure is reco8nised On￿ there is a legal or constructive obligation to make a paymeni to a third party, it 15 probable that a settlement will be required and the amount of the obl￿atIon Can be measured reliably. Expenditure Is ac¢ounied for on an accruals basis and has been classified under headings that aggregate all costs relatÈd to that category. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office tosts, finance, personnel, payroll and governance costs which support the charl￿5 programmes and activities_ These costs have been allocaied between cost of raising funds and expenditure on charitsble activities. The bases on which support costs have been allocated are set out in note 9. Irrecoverable VAT is charged as a cost a8ainst the artivity for which the associated expenditure was incurred. TaD8ible fixed assets and depreciation Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of deprecialion and any irnpairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Fixtures. fittings and equipment Computer equipmènt Motor vehicles 11>25% straight line 33% straight line 25% straight line The galn or loss arising on the disposal of an.asset is deterrnined 35 the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account. FIMed asset rnTRStments In the parent company financial statements, investments in subsidiaries are initially measured at Cost and subsequently measured at Cost le55 ony accurnulated impairment losses. A subsidiary is an entity contrdled bythe group. Control is the powertogovern thefinancial and operating policies of the entity so as to obtain benefits from its attivities. 15

BOLTON MIDOLEBROOK LEISURE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 Impairmènt of fixed assèts At each reportinB period end date. the group reviews the ¢arryinB amounts of its tangible assets to determine whether there is any indication that those assets have suffered an irnpairment1055. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the irnpairment loss lif any). i.io Stocks Stocks are statèd at the lower of cost and estimated selling prio less costs to complete and sell. Cost comprises direct materials. i.ii Cash and cash tquivalents Cash and cash equivalents are basic finanaal assets and include cash in hand. and deposits held at call with banks. 1.12 Financial instruments The group has elected to apply the provisions of Sertion 11 'Basi¢ Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the group's balance sheet when the group becomes party to the coniractual provisions of the instrumeni. Financial assets and liabilitie5 are offset and the net arnounts presented in the financial ststernents when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liabiltty simultaneously. Basic financial assets Basit financial assets. which indude debtors, loansto group ¢omp3nies and cash and bank balances, are measured at tran53Ction price. Baslc financlal Ilablllties Basic financial liabilitie5. including creditors, are reco8nised at Ironsaction price. Financial liabilities classified as payable within one year are not amortised. Trade treditors are obli8ations to pay for goods or services that have been acquired in the ordinary course of business fiom suppliers. Amounts payable are classified as current liabilitie5 if payment 15 due within one year or le55. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price. 1.13 Employee benefjts The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement 15 recognised in the period in which the employee'5 services are received. 1.14 Retirement beneffts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.15 Lease5 Rentals payable under operating lea5e5. including any lease incentives received. are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed. 16

BOLTON MIDDLEBROOK LEISURE TRUST 140TES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 1.16 Taxation The charity has charitable status and is thus exempt from taxation of its income and gains falling within section 505 of The Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. For the 5ub5¢diary the tèx expense represents the sum of the tax currently payable and deferred tax. Curntnt tox The tax currently payable 15 based on taxable profit forthe ye31. Taxable profit differs from net profit as reported in the profit and loss account because it exclude5 Items of income or expense that are taxablè Dr deductible in other years and it further excludes items that are never taxable or deductible. The companV5 liability for current tax is calculated using tax rates that have been enacted or substantively enocted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the tirning difference arise5 from goodwill or from the initial recoBnition of other assets and liabilitie5 in a transaction that affert neither the tax profit nor the accounting profit. Judgements and key sources of estimation Un￿rtaInty In the application of the group's accounting poliaes. thetrustees are required to makejudgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considwed to be relevant. Actual Te5uIts rnay differ from these estimate5. The estimètes and underlying assumptions are reviewed on an ongoing basrs. Revisions to accountin8 estimates are reco8nised in the period in which the estrmate 15 revr5ed where the revision affect5 only that period, or bn the period of the revision and future periods. where the revision affects both current and future periods. Incoffle from 5ubsidiarfs tradinz activities The charity owns the whole of the ordinary share capital. consisting of one ordinary share of £1, of Bolton Arena Trading Limited. which provides catering and retail facilities at Bolton Arena. its trading results for the year. as extratted Irom the audited financial statements. are summarised below'.- 2022 2021 Tuinover Cost of sales Adrninistraiion costs CJRS income 146.748 1117.7811 119,0081 3.817 8,441 164,5391 114.9621 44,415 Operating profitlllossl for the year 13.766 126.6451 Details of the subsidiarfs balan￿ sheet are given in note 15. 17

BOITON MIDDLEBROOK LEISURE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 Income from tharltablt activilies Unrestritttd fund5 Restrirt*d funds Total funds 2022 Total funds 2021 Health & fitness activities Tennis facilities Other sporting activities Other events Conference facilities Other income 515.945 396,377 430.212 72.010 166,314 27,778 SIS.945 474,677 431,919 72.010 166,314 27,778 ISS,051 223,242 144.590 78,3(K) 1.707 31,133 36,113 1.608.636 80.007 1.688.643 590.129 Total by fund 31 MaTch 2021 521.319 68.810 590,129 Restricted fund income of £68,810 induded above for 2021 comprised tennis faolities £68.767 and other sporting facilities £43. Income from other trading activi￿e5 Unrestricted funds Restricted funds Total fund5 2022 Total funds 2021 Advertising Rental income Service contracts Catering income Sponsorship 26.873 100.954 59,481 146.748 63.042 26.873 100,954 59,481 146,748 63.042 8.013 62,230 6,916 8.441 18.137 397.098 397,098 103,737 Investment in¢ome Unreslrirted funds Restrirted funds Total funds 2022 Total funds 2021 Interest from bank deposits 1,724 1,724 2,748 1.724 1,724 2,748 7. Other operating Income Unrestrirted funds Restricted funds Total funds 2022 Total funds 2021 Coronavirus IRS grant Kickstart scheme 67.377 19.118 67.377 19,118 614.122 86.495 86,495 614,122

P4OTESTOThÉ FIFIM•UALsfATEMEPI YW ENDED31 PMRCII 2022 Tr￿ Curr•nt¥qaraNtys Stafttosts 0￿E Dirft Direct Olrect thrett Olrtct y.i 119.816 33.31J 109.929 7.Wi 3A63 YX12.3Q2 930ai 387 179 IJ 59.712 EquIp￿nt reDtal IAJtkefin8 Human 27A66 125 635 11250 1.975 Othèrdlrettt￿ts 27.670 1471 713 420 60A08 gJppcrtC05l54l￿rI1￿IO•Ets41r￿5 GEneraloffe&fin•Mest4ff Preffli5P5fQ5ts ÉouipMéntmnt￿•rKe&[eDtrl 17.763 .sqi 2W73 14.164 419.349 206.504 73.065 Fknrarta Turno¥er TumOb*r Turmbtr 20.734 10.584 61S23 18.336 IU82 LJ27 84.629 17.161 IL497 L241 6J)) B257 fi635 &444 10.320 4.028 1.072 L>73 291 5.2B7 resourcos LE8al& prote￿10￿11 Fi￿nEer￿S[S DewetiatsDn 51i(f 4.931 5.175 517 957 437 J55 57F 57P 581 1.1 342 1.276 23.207 12.993 42.W2 147$ 9231 1461 LIM71 9A62 IY5 rl 374.571 489.121 11746 4g.57F 24.696 1.789 2.032.933 15J41 216J92 P￿5￿￿￿4eAptnd￿UIè 77.366 1,955.567

tIOlESTOIHÉ F114Af•uAL 5TATEMEPIT5 ITAR ENDED31 MARCH 2022 Hulth& lconti￿￿> SeThl Tr¥di PrhYyearan•I￿ IA.429 iiwj 237ts11 40m5 Llls 74158 IR.103 61. ILR13 59.57Q LW7.929 51.446 5.367 ts.2a2 1.013 369 In5twctortosti re(t 37 4.969 3.238 Èquiwnent 815 Hurt)nlE¥ourcp5 udltfoé Dwe(I 8.569 5uppvrtcoit5¥l￿(11Qdfo•¢1￿IknS 6EnEraloffice &finèMe5taff Prem15eS tos Equiprnpnt nwlntw￿nC¢&l￿tll Marketing Ctsmmynicatb) Turrthei Fknrats 3757Y 7A13 15.717 31A9J 11917 6227 L271 1195 1163 Y3 IDJI8 7.144 16J73 1907 5.119 1679 L167 73.410 ?8.048 52.OID I566 LYI 175 197 343 103 1121 57D Turn￿￿1 6h77 9.614 61 5.573 L211 L614 283 35J 40) 4.441 Le8al& wofe551on¥l Financttosts StifFMfflbvs Turn￿È1 Yurrther 349 45 494 S,IM5 4.869 Sl543 754 6.5W 158DI IUW ￿933 572 IY.637 461.245 383ts67 91145 11661 C61 9S262 14A23 1.501.040 Tot4•Npendtiure IJY5. 1052 23.600 1.477.4qO i.soi.oqo

BOITON MIDDLEBROOK LEISURE TRUST NOTES TO THE FINAPKIAL STATEMENTS YEAR ENDED 31 MARCH 2022 9. Net Incomin8 resources for the year 2022 2021 This is stated after chawng= Depreciation 42.802 51,543 Auditor's remuneration Audit fee Other services 12,725 2.5 15.050 2,500 Operatin8 leases.. equipment 9.841 10.883 2022 2021 IO. Staff costs Salaries Social secvrity costs Pension costs 1,099,598 76,798 82,178 969,523 60.371 92.094 1.258.574 1.121.988 The average nurnber of employees". No. Sports and fitness insiructors Facility 5UPPOrt staff Marketing ManaBement and adminisiration 34 30 37 36 Companv 70 80 Catering Group 75 85 No employees received employee benefits (excludin8 employer pension costs) of more than £60,000 during the year. 11. Pension costs The Company operates a defined contribution pension scheme in respect of the staff. The scheme and its assets are held by independent managers. The pension charge rep￿entS contributions due from the companv. 12. Key management personnel 2022 2021 The remuneration of key management personnel, which includes the Managing Director, the Operaiions Manager and heads of departments. is a5 follows.. Total key management compensation 251.896 238.367

BOLTON MIDOLEBROOK LEISURE TRusr t40TES TO THE FINANCIAL STATEMErirs YEAR ENDED 31 MARCH 20Z2 13. Trustee discIoSUTes The Charity spent £49912021= £2741 on the purchase of insurance to indemnify the trustees against the consequences of any neglect or default in relation to the charity. No remuneration or expenses out of the funds of the charity was paid, or payable, during the pefiod to any trustee or to any persons known to beconnected to them. However. thefacilities of the company are made freely available to the trustees, when not required by paying customers. 14. TangSble fixed assets Subsidiary rixtufes & fitting5 Fixtures & frttin85 Computer equipment Motor Vehides Charity Total Group Total Cost At l April 2021 Additions Disposals 465.011 8.129 119.819 13.587 598.417 15.633 11.3491 126,531 990 1100,1711 724.948 16.623 1101.5201 11,3491 At 31 March 2022 473.140 127.323 12.238 612.701 27.350 640.051 Oepreclatlon At l April 2021 Charge in the year Disposals 366,540 33,942 111,322 4.747 10,608 608 11.3491 488.470 39,297 11.3491 120,842 3,505 IIC().1711 609,312 42,802 1101,5201 At 31 Mar¢h 2022 400,482 116.069 9.867 526,418 24,176 550,594 Net Book Value At 31 March 2022 72,658 11,254 2,371 86,283 3,174 89,457 At 31 March 2021 98.471 8.497 2.979 109.947 5.689 115.636

BOLTON MIDDLE8ROOK LEISURE TRUST NOTESTOThE FINANCIAI STATEMENTS YEAR ENDED 31 MARCH 202Z 15. FIMed asset investments Shares in Subsidiary Cost At l April 2021 and at 31 March 2022 The charity holds 100% of the equity of the following ¢ompanv'. Desryiption of holding Subsldlary undertaklnB Nature of busir*ess Bolton Arena Trading Limited Ordinary Prowsion of catering and conference facilitie5 at Bolton Arena The registered office of the trading subsidiary is that of its parent and the company number is 04175883. The assets and liabilities of the subsi(Jiary were.. 2022 2021 Tangible fixed 3$5ets Current assets 3,174 85.043 5.689 26.688 88.217 187,3551 32,377 145.2911 Credllors: amounts falling due within one year 112,9141 Representing: Share capital Profit and Soss account 112,9151 112.9141 Dèiails of the 5ubsidiarfs Profit and L05s Account are ￿ven in note 3. 16. Debtors 2022 2021 Group Charlty Group Ch•rlt¥ Trade debtors Other debtors Prepayments and accrued incorne 173,469 160.912 75.698 40,129 39,131 35,054 40,249 50.322 41,4109 50.902 214,878 276.739 90.033 125.625 23

BOLTON MIDDLEBROOK LEISURE TRUST NOTES TO THE FINANCIAL STATEMENT5 YEAR ENDED 31 MARCH 2022 17. Credltors- amounts falling due within one year Z022 2021 Group Charitv Group Charity Trade creditors Tax and social security Accruals and deferred income Other creditors 45,116 45.641 197.571 8,837 42.801 40.520 193.350 8.837 46,438 15.719 191.265 16.695 46.196 15.719 186.46S 16.695 297.165 285.508 270,117 265.075 Included in accruals and deferred income 15 deferred income of £142,19312021 - £125,913). Deferred income represents income received in the year but fof speofic expendi(ure partly. or wholly in a Liter period. 18. Analysis of Grwp net assets between fynds Current year at 31.03.22 General Fund DesS8nated Fund 2022 Total Funds Tangible fixed assets Stock Debtors Cash at bank and in hand Creditor5 89,457 12.281 214,878 600,864 1297.1651 89,457 12.281 214.878 1,143,007 1297,1651 230,233 311,910 230,233 620.315 311,910 1,162,458 Prlor year at 31.03.21 General Fund Deslgnated Fund 2021 Total Fund5 Tangible fixed assets Stgck Debtor5 Cash at bank and in hand Creditors 115,636 6,797 90,654 515.888 1270.1171 115.636 6,797 90,033 956.212 1270.1171 16211 105.343 334.981 11)4,722 458.858 334.981 898.561 24

BOLTON MIDDLEBROOK LEISURE TRUST NOTESTOTHE FINANCIALSTATEMEp¥rs YEAR ENDEO 31 MARCH 2022 19. Un￿StrI￿ed funds: Movements In the year Current year: Balan￿ at l April 2021 Balance at 31 March 202Z Income Expenditure Transfers Designated funds.. Building maintenance 334.981 114.9451 18.1261 311,910 334.981 114.9451 18.1261 311,910 General funds 471.773 1,948,388 11.808.832) 8.126 619,455 Charlty total 806,754 1.948.388 11,823,777) 931,365 Subsidiary total 112.9151 150,565 1136.7891 861 Group total 793.839 2.093.953 11.95S.5671 932.225 Priof year: Balance at l Aprrl 2020 Balance at 31 March 2021 Income Expenditure Transfers Designated funds.. Building maintenance 297.274 37,707 334,981 297.274 37,707 334,981 Gèneral funds 718.349 1.189.071 11.435.647) 471,773 Charity total 1,015,623 1.189.071 11.397.940) 806.754 Subsidiarylotal 13.730 52,856 179.5011 112,9151 Group total 1,029,353 1.241.927 11.477.441) 793.839 The trustees have designated fund5 for repairs which may be required for the maintenance of the pr¢perty and Sports Education Theatre. Each year the TTilSt contributes a sum of money to Bolton Council. as part of a service agreement. This money goes into a sinking fund. which is monitored by 8olton Counol. The fund is held to ensurethat TheArena can be maintained to an expetted Standard. Bolton Middlebrook LeisureTrust does not haveaccess to this fund. The Council waived thecurrentyear contribution, due to the impact of the coronavirvs pandemic and the prior year contribution was also credited during the year.

BOLTON MIDOLEBROOK LEISURE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 Restricted fvnd5- Movement5 in ihe year Current year: Balancè at l April 2021 Balance at 31 March 2022 Income Expenditure Transfers Tennis grants Covid recovery support grants Other activities IIXJ,389 78.3 122,870 1.707 {76.5961 102.093 122,870 5.270 4.333 17701 104,722 202.877 177.3661 230.233 Prior year: Balance * l April 2020 Balance at 31 Marth 2021 Income Expenditure Transfers Tennis grants Other activities 54,622 4,890 68.767 43 I23.￿0) (6Tr)1 IrK),389 4,333 59.512 68,810 123,6001 104,722 21. Operatlng lease commltments 2022 2021 At the rèportirng end date the company had outstanding commitments for future mirbimum lease payments under non-cancellable operating leases as follows= 15,521 25,362 22. Reconciliation of net income to net Cash flow from operaling arti¥itie5 2022 2021 Net intomellempendlturel for the reporting period as per the statement of financial activities 263.898 1190.3041 Adjustments for.. Investment income Depreciation charges Ilncreaselldecrea5e in stocks Ilntrea5el/decrease in debtors Increaselldecreasel in creditors 11.7241 42,802 15,4881 1124,8471 27,053 12.7481 51,543 3,103 95,143 1101,4911 Net cash lusedll8enerated by operatlng activitie5 201.694 1144,7541

BOLTON MIODLEBROOK LEISURE TRUST NOTESTOTHE FIPW4aAL STATEMENTS YEAR ENDED 31 MARCH 2022 23. Analysis of cash and cash equivalents 2022 2021 Cash in hand Notice deposits 1.460 1,141,547 1,299 954,913 Total cash and £a5h equivalents 1.143,007 956,212 24. Related party transactions Bolton Council Each year the Trust contributes a sum of money to Bolton Council. as part of a service agreement. This money goes into sinking fund. which is monitored by Bolton Counal. The fund is held to ensure that The Arena can be rnaintained to an expected standard. Bolton Middlebrook Leisure Trust does not have access to this fund. During the current financial year, the Trust was not required to contribute towards this fund. given the impart of the coronavirus pandemic in the prior yèar. There were no transactions with related parties Outside the ordinary course of business. Analysls of changes in net funds The Trust had no debt durlng the yeaf. 27