OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Bolton Middlebrook Leisure Trust

2025-03-31-accounts

BOLTON MIDDLEBROOK LEISURE TRUST FINANCIAL STATEMENTS

31 MARCH 2025

Registered charity No: 1087039 Registered company No: 04165498

BARLOW ANDREWS LLP CHARTERED ACCOUNTANTS BOLTON

BOLTON MIDDLEBROOK LEISURE TRUST

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

CONTENTS

Page
Trustees’ report 1 – 7
Independent auditor’s report 8 – 10
Consolidated statement of financial activities 11
Group and charity balance sheets 12
Group statement of cash flows 13
Notes to the financial statements 14 - 27

BOLTON MIDDLEBROOK LEISURE TRUST

TRUSTEES’ REPORT

Reference and administrative information

Charity Name: Bolton Middlebrook Leisure Trust Also trades under the name of Bolton Arena Charity registration number: 1087039 Company registration number: 04165498 Registered office and operational address: Bolton Arena Arena Approach Bolton Trustees Mr J M McBrien Resigned 1 October 2025 Mr A E Jones Mrs S A Hilton Chair Mr A Matthaiou Mr M Pollitt Cllr N Ayub Cllr M Brady Mr S Mulvaney Resigned 27 May 2025 Dr Z Atcha Mrs E Davenport Resigned 3 November 2025 Mr J Hesketh Mr A Taylor Appointed 27 May 2025

Secretary

Mr N Hutchinson

Senior Management Team

Mr N Hutchinson Managing Director Mr S Sharrock Operations Manager Mr L Wood Head of Commercial Mr S Kay Head of Sport

Auditor

Barlow Andrews LLP, Carlyle House, 78 Chorley New Road, Bolton

Bankers

The Co-operative Bank PLC, Knowsley Street, Bolton Santander Corporate & Commercial Banking, Bridle Road, Bootle

Solicitors

DWF Solicitors, 1 Scott Place, Manchester

1

BOLTON MIDDLEBROOK LEISURE TRUST

TRUSTEES’ REPORT

(Continued)

The trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual report and the audited financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the company’s Memorandum and Articles of Association, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019)”.

Structure, governance and management

Governing document

Bolton Middlebrook Leisure Trust is a company limited by guarantee, incorporated on 22 February 2001 and registered as a charity on 18 June 2001. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The company meets the definition of a public benefit entity under FRS102.

Trustees

The trustees, who are also directors 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 capital. The liability of members is limited to £10 each.

The trustees who served during the year or who are in post at the date of this report are as listed on page 1.

All trustees give their time freely and no trustee remuneration was paid during the year. Details of trustee “out of pocket” expenses are disclosed in the accounts. Trustees are required to disclose all relevant interests and register them with the company secretary and, in accordance with the Bolton Arena policy, withdraw from decisions where a conflict of interest may arise.

Recruitment and appointment of trustees

The recruitment and appointment of Trustees at Bolton Middlebrook Leisure Trust follows the conditions established within the Company’s Memorandum and Articles of Association. Board members are made up from the following categories:

Trustee induction and training

All trustees undergo an official induction into the workings of Bolton Middlebrook Leisure Trust. The induction covers:

2

BOLTON MIDDLEBROOK LEISURE TRUST

TRUSTEES’ REPORT

(Continued)

Related parties

Certain trustees have an association with companies and organisations that use the Trust’s facilities, including Emerson, Bolton Council, Age UK Bolton and University of Bolton. These are undertaken in accordance with the charity’s normal terms of business and on an arm’s length basis, which the charity is able to demonstrate. IT support is also provided by Digicomm, whose managing director is a trustee of the charity. Any discussions surrounding the supply of IT services would exclude the related trustee.

Organisation structure

The organisation structure of Bolton Middlebrook Leisure Trust is that the Board of Trustees is responsible for the governance of the Trust and the day to day running is the responsibility of the Managing Director and appointed managers within the predetermined levels of authority.

The Board of Trustees meets quarterly, along with the senior management team and determines the strategic direction of the charity. The Board currently has 11 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 responsibility for delivering the aims and objectives of the Trust, ensuring that Bolton Arena serves all sections of the local community.

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 assess performance against agreed objectives and reviews pay on an annual basis.

There is a wholly owned subsidiary of the Trust, Bolton Arena Trading Limited, which provides catering and retail facilities. 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 to operate and manage the sports and leisure facilities, under a 25 year management agreement that commenced in 2001. As part of this agreement the Charity must pay an agreed amount each year into a fund held by Bolton Council, known as the sinking fund, which is to be used against future repairs of the building. Funds for repairs may be claimed from this fund in writing from the Council. During the current financial year, the Trust was not required to contribute towards this fund.

Discussions have commenced with Bolton Council in relation to an extension to the current contract. An initial 3-5 year extension has been discussed, and a building condition survey has been commissioned which took place last week to highlight the long-term building liabilities. Once the results from the condition survey are received, contract discussions will progress and be formalised in early 2026.

Risk management policy

The trustees have assessed the major risks 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 mitigate our exposure to the major risks.

Objectives and activities

The charity is established to provide world class facilities, programmes and events that inspire people of all ages, backgrounds and abilities to follow a lifelong passion for sport and healthy activities.

Principal activities and objectives

The activities of the charity are 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 and its surrounding neighbourhood. In addition, to educate and assist young persons from these areas through leisure activities, to develop their physical, mental and spiritual capacities so that their condition of life may be improved and, in furtherance of that objective, to make available to them the facilities provided by the charity, lecture classes, training and coaching facilities. The Arena has also diversified into organising and hosting major national and international events.

3

BOLTON MIDDLEBROOK LEISURE TRUST

TRUSTEES’ REPORT

(Continued)

Each year the trustees review the objectives and activities of the charity to ensure they continue to reflect our aims. In carrying out this review, the trustees have considered the Charity Commission’s general guidance on public benefit and the trustees are more than satisfied that they do, as reflected in the achievements and performance in the year.

Achievements and performance

It has been another busy year with a big increase in fitness members after a successful launch of our 24-hour gym, changes to our membership pricing and removing contracts on direct debit memberships.

Bolton Arena staff have all worked really hard to generate new ideas and bring in new business to ensure we are maximising the usage and income from facilities and operations. In particular, we have attracted new large-scale fitness events capitalising on the rise in popularity of CrossFit and Hyrox in particular.

Conferencing has been challenging with increased competition but has remained stable and we have invested in new technology for conferencing.

The cafe continues to perform well, now giving better returns, and is a vital support to the large events we run.

We continue to work hard with Bolton Council and other stakeholders to focus on the Bolton Active Lives Strategy and ensure we are aligned with the Bolton Council vision and our charitable objectives. We are also part of the Bolton Ambassadors' programme; an initiative led by the Council to promote Bolton and its businesses and work collaboratively for the good of everyone in Bolton.

Investment into the equipment and facilities

We have continued to invest in the facility, working with Bolton Council, utilising the joint sinking fund to make building improvements aligned with the building condition surveys. Investment has also been made in new conferencing technology and equipment to improve this area and ensure we have a competitive offering.

Programming and sports education

This year has seen continued growth in our community programmes. Bolton Cares and LifeBridge have expanded their weekly schedules, providing valuable support for both younger and older members as they progress through different stages of life. These organisations encourage participation in sport as a way to improve physical and mental health, while also fostering social connection and inclusion across diverse groups. Activities include cycling, multi-sports, tennis, basketball and dodgeball.

We are pleased to report that visits to the Arena by both groups have increased by 50% this year, reflecting the growing engagement and positive impact of these programmes within our community.

We are a full 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 potentially more access to funding and we have had staff access the transformation leadership course run by them. 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 community organisations from across Greater Manchester that are all part of the same movement, to get more people physically active. The group accounts for 87 leisure 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 communities.

This will support us in growing our customer base and increasing our social value across Bolton.

Tennis

We continue to be recognised as a regional player development centre with a glowing assessment from the Lawn Tennis Association.

We have also continued to maintain our focused junior courses as well as our community outreach tennis programme within schools, local parks and clubs along with running our own successful tournament schedule.

4

BOLTON MIDDLEBROOK LEISURE TRUST

TRUSTEES’ REPORT

(Continued)

Our outreach and community tennis programme encourages and facilitates multiple groups to try out tennis. We continue to host large national and international tournaments throughout the year including an international wheelchair tennis tournament.

Football and outdoor

Bolton Arena boasts nine artificial football pitches, along with an 11-a-side grass pitch and a six-lane running track. Six thousand customers each week utilise the facilities for their fitness, training and competition requirements.

The 5-a-side league programme is well recognised within the community for the quality of its product; 130 teams now play regularly in organised leagues throughout the week.

There is our walking football programme, giving men and women aged 40 and over the chance to play football in a socially organised environment.

We now run the largest walking football programme in Bolton and cover all abilities from grassroots to elite with representation at national level in the men’s and women’s teams. We have also recently launched disability sessions and a pilot project with Parkinsons UK and walking football.

Financial Review

The Group reported net income of £134,815 on its consolidated statement of financial activities, whilst the charity itself reported net income of £91,537 for the year.

Principal funding sources

The majority of the Trust’s income is generated from the sporting, recreational and educational activities that take place within the facility. Included in grant income is monies received from Bolton Council, to support the Trust in making repairs and improvements to the facilities. Grant funding is also received from the Lawn Tennis Association and is in respect of Performance Tennis. This income is included within charitable activities. Trading activities include revenue from the trading subsidiary, revenue from 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 car parking, advertising revenue and sponsorship of the Arena’s name.

Investment policy

There are currently few funds available for longer term investment. As such cash balances are managed to ensure any balances not required for daily working capital are placed in interest bearing deposit accounts. Once the Trust is in the position to consider other investment opportunities a more detailed investment policy will be considered by the Trustees.

Reserves policy

The Trust will hold in specific reserves amounts relating to a repairs and renewal fund. This ensures 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 order 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 assist in the funding of new activities not foreseen in future budgets. At 31 March 2025, the individual charity’s free reserves were £781,271 (being unrestricted funds less designated funds and fixed assets).

Going concern

Over the last year we have seen continued sustained growth across the organisation as we have in previous years. This is combined with stringent control on expenditure costs particularly around staffing and resources.

We have also continued to invest in building maintenance and staff coaching/development and training to benefit the organisation and the professional development of staff. We have increased staff pay during this period with both mandatory pay increases in line with national minimum wage and then increasing other employees’ salaries to maintain pay differential where at all possible.

5

BOLTON MIDDLEBROOK LEISURE TRUST

TRUSTEES’ REPORT

(Continued)

The introduction of 24-hour gym and removing gym contracts has had a positive impact on our gym membership growth over the last 12 months.

We are positive about the next 12 months and are currently working on a business plan to develop Padel courts which will generate extra income.

Employees

Our employees are the most important ingredient in our success. We employ over 80 people and are committed to their welfare and personal development. We offer competitive terms of employment and have a robust personal appraisal system.

We continue to work with external consultants, CUBE, who support our HR function and this is working well. In particular, CUBE have helped us upskill senior and middle managers across the organisation and continue to keep us up to date with the relevant legislation and skills required to manage operations professionally on site.

Disabled persons are not treated less favourably than the non-disabled persons. Reasonable adjustments 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 regularly with our employees through monthly team meetings and bi-annual whole staff meetings to help maintain a healthy workforce and promote advocates of the service we manage. We also have a successful employee engagement group that organise staff wellbeing sessions, ranging from mental health support, to menopause workshops and financial advice and support meetings.

Financial Performance

The trustees consider a number of key performance indicators, both financial and non-financial.

2025 2024
£ £
Income 3,208,975 2,923,188
Net surplus/(deficit) 134,815 114,479
Total health & fitness members 2,700 2,510

At 31 March 2025, the Group had consolidated reserves of £1,337,382 (2024: £1,202,567) of which £104,471 (2024: £149,137) were restricted funds and £277,398 (2024: £363,062) had been designated to be spent as and when required per Note 19.

Plans for future periods

Some of the areas we will be focussing on in the coming year are:

6

BOLTON MIDDLEBROOK LEISURE TRUST

TRUSTEES’ REPORT

(Continued)

Responsibilities of trustees

Company law requires the directors of the charity (namely 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 resources, including the income and expenditure of the charitable company for that year. In preparing these financial statements the trustees are required to:

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

Further, the trustees are responsible for preparing their Trustees’ Report which should disclose the legal and administrative details of the charity and contain a narrative report explaining the organisation’s objects, a review of the development, activities and achievements of the charity during the period and of its financial performance and position.

Statement of disclosure to auditors

So far as we are aware, there is no relevant audit information of which the company’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 to establish that the charity’s auditors are aware of that information.

Auditor

A resolution for the reappointment of Barlow Andrews LLP as auditor is to be proposed at the forthcoming Annual General Meeting. The trustees recommend that Barlow Andrews LLP remain in office until further notice.

Your attention is drawn to the fact that the charity has prepared accounts in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice applicable for reporting periods beginning on or after 1 January 2019 which is referred to in the extant regulations but has not been withdrawn.

We understand that this has been done in order for the accounts to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

This report is approved by the trustees on 4 December 2025 and signed on their behalf by 7A Mrs S Hilton Mo Trustee

7

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

BOLTON MIDDLEBROOK LEISURE TRUST

Opinion

We have audited the financial statements of Bolton Middlebrook Leisure Trust (the ‘parent company’) for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Group Statement of Cash Flows and notes to the financial statements, 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 Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities 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, including the FRC’s Ethical Standard, and we have fulfilled 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going 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 uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent 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 inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

8

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

BOLTON MIDDLEBROOK LEISURE TRUST

Opinion on other matter prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and its environment, obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities, the trustees (who are also directors of Bolton Middlebrook Leisure Trust for the purposes of company law) are responsible for the preparation of the financial 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 assessing the group and the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters 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 objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably 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 regulations. 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 misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

9

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

BOLTON MIDDLEBROOK LEISURE TRUST

We assessed the susceptibility of the group’s and the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the group and charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume 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 Andrews LLP Accountants and Statutory Auditor Carlyle House, 78 Chorley New Road, Bolton

4 December 2025

10

BOLTON MIDDLEBROOK LEISURE TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income
Grants – Bolton Council
Other grants
Charitable activities
4
Other trading activities
5
Investments
6
Other operating income
7
Total income
Expenditure on
Raising funds
Charitable activities
Total expenditure
8
Net income/(expenditure) for the year
Transfers between funds
Net movement in funds
Reconciliation in funds
Total funds brought forward
Total funds carried forward		 2025
Unrestricted
Funds
£
174,827
-
2,230,837
634,833
37,138
66,225
3,143,860
485,082
2,479,611
2,964,693
179,167
314
179,481
1,053,430
1,232,911		 2025
Restricted
Funds
£
-
-
65,115
-
-
-
65,115
-
109,467
109,467
(44,352)
(314)
(44,666)
149,137
104,471		 2025
Total
Funds
£
174,827
-
2,295,952
634,833
37,138
66,225
3,208,975
485,082
2,589,078
3,074,160
134,815
-
134,815
1,202,567
1,337,382		 2024
Unrestricted
Funds
£
298,937
18,182
1,814,643
612,472
27,840
24,499
2,796,573
457,324
2,217,774
2,675,098
121,475
-
121,475
931,955
1,053,430		 2024
Restricted
Funds
£
-
-
126,615
-
-
-
126,615
-
133,611
133,611
(6,996)
-
(6,996)
156,133
149,137		 2024
Total
Funds
£
298,937
18,182
1,941,258
612,472
27,840
24,499
2,923,188
457,324
2,351,385
2,808,709
114,479
-
114,479
1,088,088
1,202,567

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure is derived from continuing activities.

11

BOLTON MIDDLEBROOK LEISURE TRUST

CONSOLIDATED AND CHARITY

BALANCE SHEETS AS AT 31 MARCH 2025

Group Charity Group Charity
2025 2025 2024 2024
Notes £ £ £ £
Fixed Assets
Tangible assets 14 64,654 54,898 85,574 77,535
Investments 15 - 1 - 1
64,654 54,899 85,574 77,536
Current Assets
Stock 12,683 - 12,651 -
Debtors 16 254,507 311,388 208,553 190,112
Bank and cash balances 23 1,451,760 1,260,191 1,316,731 1,252,440
1,718,950 1,571,579 1,537,935 1,442,552
Creditors:amounts falling due within
one year 17 (446,222) (408,439) (420,942) (393,586)
Net current assets 1,272,728 1,163,140 1,116,993 1,048,966
Total assets less current liabilities 1,337,382 1,218,039 1,202,567 1,126,502
Net assets 1,337,382 1,218,039 1,202,567 1,126,502
Total funds of the charity
Unrestricted income funds
General 19 955,513 836,170 690,368 614,303
Designated 19 277,398 277,398 363,062 363,062
1,232,911 1,113,568 1,053,430 977,365
Restricted funds 20 104,471 104,471 149,137 149,137
Total reserves 1,337,382 1,218,039 1,202,567 1,126,502

These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.

As permitted by S408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. There was an increase in the company’s profit and loss account for the year of £91,537 (2024: increase of £53,614).

The financial statements were approved by the Board of Trustees and authorised for issue on 4 December 2025 and signed on its behalf by: 7A Mrs S Hilton Mo Trustee

Company registration number 04165498

12

BOLTON MIDDLEBROOK LEISURE TRUST

GROUP STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

Notes
Net cash generated by operating activities
22
Cash flow from investing activities:
Purchase of plant and equipment
Interest received
Net cash generated by investing activities
Net change in cash and cash equivalents in reporting period
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
23		 2025
£
110,703
(12,812)
37,138
24,326
135,029
1,316,731
1,451,760		 2024
£
149,412
(25,866)
27,840
1,974
151,386
1,165,345
1,316,731

13

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. Accounting policies

Company information

Bolton Middlebrook Leisure Trust (“the charity”) is a charitable company limited by guarantee, incorporated in England and Wales. The registered office is Bolton Arena, Arena Approach, Bolton.

In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

The group consists of Bolton Middlebrook Leisure Trust and its subsidiary Bolton Arena Trading Limited.

1.1

Accounting convention

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historic cost convention. The principal accounting policies adopted are set out below.

Bolton Middlebrook Leisure Trust meets the definition of a public benefit entity under FRS102.

1.2 Basis of consolidation

The consolidated financial statements incorporate those of Bolton Middlebrook Leisure Trust and its subsidiary. All the financial statements included in the consolidation have been made up to 31 March 2025.

All intra-group transactions, balances and unrealised gains on transactions between group entities are eliminated on consolidation.

1.3 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the objects of the charity without further purpose and which have not been designated for other purposes.

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. Expenditure which meets this criteria is charged to the fund together with a fair allocation of overhead costs.

14

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1.5 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 received and the amount can be measured reliably.

The specific bases used are as follows:

1.6 Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that a settlement will be required, and the amount of the obligation can be measured reliably.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related 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 costs, finance, personnel, payroll and governance costs which support the charity’s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 8.

Irrecoverable VAT is charged as a cost against the activity for which the associated expenditure was incurred.

1.7 Tangible fixed assets and depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment 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 - 10-25% straight line
Computer equipment - 33% straight line
Motor vehicles - 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the statement of financial activities.

1.8 Fixed asset investments

In the parent charity financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

15

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1.9 Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.10 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials.

1.11 Cash and cash equivalents

Cash and cash equivalents are basic financial 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 Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other 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 contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements 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 liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, loans to group companies and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

1.13 Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.14 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15 Leases

Rentals payable under operating leases, 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

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

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 subsidiary the tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The charity’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted 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 timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affect neither the tax profit nor the accounting profit.

2. Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the trustees are required to make judgements, 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 considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods, where the revision affects both current and future periods.

3. Income from subsidiary’s trading 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 extracted from the audited financial statements, are summarised below:-

Turnover
Cost of sales
Administration costs
Other operating income
Operating profit and profit after tax		 2025
£
440,930
(299,890)
(97,762)
-
43,278		 2024
£
332,208
(231,964)
(40,566)
1,187
60,865

Details of the subsidiary’s balance sheet are given in note 15.

17

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

4.
Income from charitable activities
Health & fitness activities
Tennis facilities
Other sporting activities
Other events
Conference facilities
Other income
Total by fund 31 March 2024		 Unrestricted
funds
£
838,887
570,406
524,361
198,468
98,715
-
2,230,837
1,814,643		 Restricted
funds
£
-
58,095
7,020
-
-
-
65,115
126,615		 Total funds
2025
£
838,887
628,501
531,381
198,468
98,715
-
2,295,952		 Total funds
2024
£
659,180
603,473
441,228
127,986
109,387
4
1,941,258
1,941,258

Restricted fund income of £126,615 included above for 2024 comprised tennis facilities £101,765 and other sporting facilities £24,850.

5.
Income from other trading activities
Advertising
Rental income
Service contracts
Trading income
6.
Investment income
Interest from bank deposits
7.
Other operating income
Management charge income		 Unrestricted
funds
£
-
117,257
76,647
440,929
634,833
Unrestricted
funds
£
37,138
37,138
Unrestricted
funds
£
66,225
66,225		 Restricted
funds
£
-
-
-
-
-
Restricted
funds
£
-
-
Restricted
funds
£
-
-		 Total funds
2025
£
-
117,257
76,647
440,929
634,833
Total funds
2025
£
37,138
37,138
Total funds
2025
£
66,225
66,225		 Total funds
2024
£
-
111,838
71,549
429,085
612,472
Total funds
2024
£
27,840
27,840
Total funds
2024
£
24,499
24,499

18

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

8.
Total resources expended
Basis of
allocation
Current year analysis
Costs directly allocated to activities
Staff costs
Direct
Instructor costs
Direct
Equipment and materials
Direct
Equipment maintenance & rental
Direct
Marketing
Direct
Human resources
Direct
Audit fee
Direct
Other direct costs
Direct
Support costs allocated to activities
General office & finance staff
Turnover
Premises costs
Floor area
Equipment maintenance & rental
Turnover
Marketing
Turnover
Communications
Turnover
Human resources
Staff numbers
Legal & professional
Staff numbers
Finance costs
Turnover
Depreciation
Turnover
Total expenditure on:		 Health &
fitness
activities
Tennis
facilities
Other
sporting
activities
Other
events
Conference
facilities
Governance
£
£
£
£
£
£
123,545
136,963
155,249
244,086
219,973
-
39,735
135,832
9,765
-
-
-
-
-
-
2,190
-
-
1,417
-
607
44,914
44,977
-
89,880
-
-
-
-
-
834
349
1,037
319
319
-
-
-
-
-
-
16,800
22,241
25,500
46,385
42,178
3,017
-
187,402
146,507
117,319
44,419
22,102
-
29,688
89,089
121,755
49,090
31,273
-
73,201
57,191
45,764
17,319
8,614
-
7,531
5,884
4,709
1,782
886
-
3,744
2,970
2,341
886
440
-
8,038
7,574
9,193
1,936
1,010
-
20,684
5,732
6,957
1,465
765
-
6,577
5,139
4,112
1,556
774
-
9,979
7,796
6,238
2,361
1,174
-		 Advertising
Rental
income
Service
contracts
Trading
costs

£
£
£
£
-
3,979
38,015
139,502
-
-
-
-
-
-
-
160,388
-
-
1,500
15,278
-
-
-
-
-
-
-
-
-
-
-
4,550
-
116
22,609
-
-
27,137
17,116
113
-
14,848
-
-
-
10,560
6,688
-
-
1,086
688
466
-
540
342
-
-
790
1,325
-
-
597
1,002
1,634
-
949
601
6,479
-
1,439
912
3,833		 2025
Total
£
1,061,312
185,332
162,578
108,693
89,880
2,858
21,350
162,046
562,115
335,743
219,337
23,032
11,263
29,866
38,836
26,187
33,732
624,496
626,526
531,431
454,501
335,324
16,800		 -
62,041
90,798
332,243		 3,074,160
109,467
2,964,693
Charitable activities
2,589,078		 Trading activities
485,082
Restricted expenditure
Unrestricted expenditure
3,074,160

At the beginning of the current year, advertising activities were transferred to Bolton Arena Trading Limited. As such, the expenditure is now recognised in trading costs.

19

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

8.
Total resources expended
(continued)
Basis of
allocation
Prior year analysis
Costs directly allocated to activities
Staff costs
Direct
Instructor costs
Direct
Equipment and materials
Direct
Equipment maintenance & rental
Direct
Marketing
Direct
Human resources
Direct
Audit fee
Direct
Other direct costs
Direct
Support costs allocated to activities
General office & finance staff
Turnover
Premises costs
Floor area
Equipment maintenance & rental
Turnover
Marketing
Turnover
Communications
Turnover
Human resources
Staff numbers
Legal & professional
Staff numbers
Finance costs
Turnover
Depreciation
Turnover
Total expenditure on:		 Health &
fitness
activities
Tennis
facilities
Other
sporting
activities
Other
events
Conference
facilities
Governance
£
£
£
£
£
£
128,489
194,569
166,053
233,577
227,592
-
39,703
82,668
6,335
-
-
-
-
1,506
-
3,010
-
-
1,173
44
697
37,097
37,097
-
2,276
34
-
-
509
-
93
36
77
542
541
-
-
-
-
-
-
17,388
18,707
32,441
17,332
14,558
2,597
-
129,194
119,418
86,994
23,469
21,947
-
24,558
72,721
99,385
41,750
26,103
-
91,719
84,891
61,791
16,730
15,595
-
21,162
19,586
14,256
3,860
3,598
-
2,758
2,597
2,094
503
469
-
2,699
2,726
4,045
712
408
143
12,524
4,846
7,117
1,239
730
245
4,934
4,567
3,324
900
839
-
15,414
14,266
10,384
2,812
2,621
-		 Advertising
Rental
income
Service
contracts
Trading
costs

£
£
£
£
-
-
32,779
86,759
-
-
-
-
-
-
-
145,205
-
-
-
14,733
4,831
-
-
-
-
-
-
-
-
-
-
5,575
95
110
24,417
-
19,554
22,415
14,300
-
-
12,120
-
-
13,818
15,945
10,201
-
3,187
3,679
2,354
91
416
355
307
-
235
271
459
-
413
477
807
-
744
857
547
9,801
2,321
2,680
1,714
2,753		 2024
Total
£
1,069,818
128,706
149,721
90,841
7,650
1,289
22,963
110,257
437,291
276,637
310,690
71,773
9,499
11,698
28,398
26,513
54,965
495,403
636,916
479,884
380,759
340,646
17,776		 45,614
58,909
87,885
264,917		 2,808,709
133,611
2,675,098
Charitable activities
2,351,385		 Trading activities
457,324
Restricted expenditure
Unrestricted expenditure
2,808,709

20

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

9. Net incoming resources for the year

2025 2024
£ £
This is stated after charging:
Depreciation 33,732 54,965
Auditor’s remuneration
Audit fee 21,350 22,963
Other services 2,738 2,751
Operating leases: equipment 11,772 13,284
10. Staff costs
Salaries
Social security costs
Pension costs
The average number of employees:
Sports and fitness instructors
Facility support staff
Marketing
Management and administration
Company
Catering
Group		 2025
£
1,335,403
100,886
75,883
1,512,172
No.
34
31
1
9
75
11
86		 2024
£
1,280,281
86,811
70,833
1,437,925
No.
34
38
1
8
81
6
87

One employee received employee benefits (excluding employer pension costs) in the band £110,000 - £120,000 in the current year. In the prior year, one employee received employee benefits (excluding employer pension costs) in the band £90,000 - £100,000.

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 represents contributions due from the company.

12. Key management personnel

2025 2024
Key management personnel are considered to be the trustees (all unpaid) and the senior £ £
management team listed on page 1.
Total key management compensation 322,406 255,278

21

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

13. Trustee disclosures

The charity spent £1,148 (2024: £881) 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 was payable, during the period to any trustee or to any persons known to be connected to them. However, the facilities of the company are made freely available to the trustees, when not required by paying customers.

14. Tangible fixed assets

Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge in the year
Disposals
At 31 March 2025
Net Book Value
At 31 March 2025
At 31 March 2024		 Fixtures &
fittings
£
545,024
7,103
-
552,127
476,320
26,278
-
502,598
49,529
68,704		 Computer
equipment
£
133,379
159
-
133,538
125,707
3,369
-
129,076
4,462
7,672		 Motor
Vehicles
£
12,238
-
-
12,238
11,079
252
-
11,331
907
1,159		 Charity
Total
£
690,641
7,262
-
697,903
613,106
29,899
-
643,005
54,898
77,535		 Subsidiary
fixtures &
fittings
£
38,671
5,550
-
44,221
30,632
3,833
-
34,465
9,756
8,039		 Group
Total
£
729,312
12,812
-
742,124
643,738
33,732
-
677,470
64,654
85,574

22

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

15. Fixed asset investments

15. Fixed asset investments
Shares in
Subsidiary
Cost £
At 1 April 2024 and at 31 March 2025 1

The charity holds 100% of the equity of the following company:

Description
Subsidiary undertaking of holding Nature of business
Bolton Arena Trading Limited Ordinary Provision of catering and conference facilities 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 subsidiary were:

Tangible fixed assets
Current assets
Creditors:amounts falling due within one year
Representing:
Share capital
Profit and loss account		 2025
£
9,756
239,119
248,875
(129,531)
119,344
1
119,343
119,344		 2024
£
8,039
113,520
121,559
(45,493)
76,066
1
76,065
76,066

Details of the subsidiary’s Profit and Loss Account are given in note 3.

16. Debtors

Trade debtors
Other debtors
Prepayments and accrued income		 2025
Group
£
Charity
£
190,044
156,627
-
91,748
64,463
63,013
254,507
311,388		 2024
Group
£
Charity
£
174,606
140,275
580
18,137
33,367
31,700
208,553
190,112		 2024
Group
£
Charity
£
174,606
140,275
580
18,137
33,367
31,700
208,553
190,112
190,112

23

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

17. Creditors – amounts falling due within one year

7. Creditors –amounts falling due within one year
Trade creditors
Tax and social security
Accruals and deferred income
Other creditors		 2025
Group
£
Charity
£
83,781
83,246
66,764
47,667
285,460
267,309
10,217
10,217
446,222
408,439		 2024
Group
£
Charity
£
65,454
63,212
52,146
34,609
294,186
286,609
9,156
9,156
420,942
393,586
393,586

Included in accruals and deferred income is deferred income of £168,930 (2024 - £213,188). Deferred income represents income received in the year but for specific expenditure partly, or wholly, in a later period.

18. Analysis of Group net assets between funds

Current year at 31.03.25
Tangible fixed assets
Current assets
Creditors due within one year
Prior year at 31.03.24
Tangible fixed assets
Current assets
Creditors due within one year		 Restricted
Funds
£
-
104,471
-
104,471
Restricted
Funds
£
-
149,137
-
149,137		 General
Fund
£
64,654
1,337,081
(446,222)
955,513
General
Fund
£
85,574
1,025,736
(420,942)
690,368		 Designated
Funds
£
-
277,398
-
277,398
Designated
Fund
£
-
363,062
-
363,062		 2025
Total
£
64,654
1,718,950
(446,222)
1,337,382
2024
Total
£
85,574
1,537,935
(420,942)
1,202,567

24

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

19. Unrestricted funds: consolidated movements in the year for the Group

Current year:
Other unrestricted funds:
BMBC sinking fund
Designated building maintenance fund
Designated equipment fund
General funds
Total unrestricted funds
Prior year:
Other unrestricted funds:
BMBC sinking fund
Designated building maintenance fund
Designated equipment fund
General funds
Total unrestricted funds		 Balance at
1 April
2024
Income
Expenditure
Transfers
Balance at
31 March
2025
£
£
£
£
£
-
174,827
(174,827)
-
-
290,776
-
(33,267)
-
257,509
72,286
-
(79,961)
27,564
19,889
363,062
174,827
(288,055)
27,564
277,398
690,368
2,969,033
(2,676,638)
(27,250)
955,513
1,053,430
3,143,860
(2,964,693)
314
1,232,911
Balance at
1 April
2023
Income
Expenditure
Transfers
Balance at
31 March
2024
£
£
£
£
£
-
298,937
(298,937)
-
-
310,987
-
(20,211)
-
290,776
24,553
-
-
47,733
72,286
335,540
298,937
(319,148)
47,733
363,062
596,415
2,497,636
(2,355,950)
(47,733)
690,368
931,955
2,796,573
(2,675,098)
-
1,053,430

The trustees have designated funds for repairs which may be required for the maintenance of the property and Sports Education Theatre.

The designated equipment fund represents funds set aside to spend on the upgrade of gym and sports equipment.

Historically, the Trust has contributed a sum of money each year to Bolton Council, as part of a service agreement. This money goes into a sinking fund, which is monitored by Bolton Council. The fund is held to ensure that The Arena can be maintained to an expected standard. Bolton Middlebrook Leisure Trust does not have access to this fund. The Council have waived the contributions for the past few years, due to the impact of the coronavirus pandemic.

The sinking fund income and expenditure above relates to funds provided from the sinking fund, held by Bolton Council, which were spent on repairs to the facilities.

25

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

20. Restricted funds: consolidated movements in the year for the Group

Current year:
Tennis grants
Other activities
Total restricted funds
Prior year:
Tennis grants
Other activities
Total restricted funds		 Balance at
1 April
2024
Income
Expenditure
Transfers
Balance at
31 March
2025
£
£
£
£
£
121,688
58,095
(98,248)
(193)
81,342
27,449
7,020
(11,219)
(121)
23,129
149,137
65,115
(109,467)
(314)
104,471
Balance at
1 April
2023
Income
Expenditure
Transfers
Balance at
31 March
2024
£
£
£
£
£
138,988
101,765
(119,065)
-
121,688
17,145
24,850
(14,546)
-
27,449
156,133
126,615
(133,611)
-
149,137

21. Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum
lease payments under non-cancellable operating leases as follows:
Within one year
Between two and five years		 2025
£
9,532
14,433
23,965		 2024
£
11,772
23,965
35,737

22. Reconciliation of net income to net cash flow from operating activities

Net income for the reporting period as per
the statement of financial activities
Adjustments for:
Investment income
Depreciation charges
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash generated by operating activities		 2025
£
134,815
(37,138)
33,732
(32)
(45,954)
25,280
110,703		 2024
£
114,479
(27,840)
54,965
2,033
15,563
(9,788)
149,412

26

BOLTON MIDDLEBROOK LEISURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

23. Analysis of cash and cash equivalents

Cash in hand
Notice deposits
Total cash and cash equivalents		 2025
£
1,839
1,449,921
1,451,760		 2024
£
1,837
1,314,894
1,316,731

24. Related party transactions

Bolton Council

Historically, the Trust has contributed a sum of money each year to Bolton Council, as part of a service agreement. This money goes into a sinking fund, which is monitored by Bolton Council. The fund is held to ensure that The Arena can be maintained to an expected standard. Bolton Middlebrook Leisure Trust does not have access to this fund. The Council have waived the contributions for the past few years, due to the impact of the coronavirus pandemic.

The sinking fund income and expenditure shown in note 19 relates to funds provided from the sinking fund, held by Bolton Council, which were spent on repairs to the facilities.

University of Bolton

The charity received £58,000 during the year from the University of Bolton (2024 - £nil), an entity of which Mr A Matthiaou (Trustee) is an executive director, for sponsorship and a workforce gym membership.

Anderton Centre – LOAI Limited

The charity paid £2,380 during the year to Anderton Centre – LOAI Limited (2024 - £nil), a company of which Mr A Matthiaou is a director, for staff welfare services.

Digicomm 360 Ltd

The charity received £2,880 during the year from Digicomm 360 Ltd, a company of which Mr M Pollitt is a director, for advertising and gym memberships (2024 - £2,400). The charity also paid £35,246 to Digicomm 360 Ltd for IT equipment and support services during the year (2024 - £31,231). An amount of £2,350 was owed to Digicomm 360 Ltd at the reporting date (2024 - £3,547).

Orbit Investments (Northern) Ltd

The charity received £4,000 during the prior year from Orbit Investments (Northern) Ltd, a company of which Mr A E Jones is a director, for commercial partnership. No amounts were received in the current year.

There were no other transactions with related parties outside the ordinary course of business.

27

BOLTON MIDDLEBROOK LEISURE TRUST

MANAGEMENT INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

Appendix 1

BOLTON MIDDLEBROOK LEISURE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT) OF THE CHARITY ONLY

FOR THE YEAR ENDED 31 MARCH 2025

Income
Donations from subsidiary
Grants – Bolton Council
Other grants
Charitable activities
Other trading activities
Investments
Other operating income
Total income
Expenditure on
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure) before transfers
Transfer between funds
Net movement after transfers
Reconciliation in funds
Total funds brought forward
Total funds carried forward		 2025
Unrestricted
Funds
£
65,409
174,827
-
2,230,837
193,903
37,138
66,225
2,768,339
152,839
2,479,611
2,632,450
135,889
314
136,203
977,365
1,113,568		 2025
Restricted
Funds
£
-
-
-
65,115
-
-
-
65,115
-
109,467
109,467
(44,352)
(314)
(44,666)
149,137
104,471		 2025
Total
Funds
£
65,409
174,827
-
2,295,952
193,903
37,138
66,225
2,833,454
152,839
2,589,078
2,741,917
91,537
-
91,537
1,126,502
1,218,039		 2024
Unrestricted
Funds
£
7,613
298,937
18,182
1,814,643
280,264
27,840
24,499
2,471,978
192,407
2,218,961
2,411,368
60,610
-
60,610
916,755
977,365		 2024
Restricted
Funds
£
-
-
-
126,615
-
-
-
126,615
-
133,611
133,611
(6,996)
-
(6,996)
156,133
149,137		 2024
Total
Funds
£
7,613
298,937
18,182
1,941,258
280,264
27,840
24,499
2,598,593
192,407
2,352,572
2,544,979

53,614
-

53,614
1,072,888
1,126,502

Appendix 2

BOLTON MIDDLEBROOK LEISURE TRUST

EXPENDITURE OF THE CHARITY ONLY

YEAR ENDED 31 MARCH 2025

Costs directly allocated to activities
Staff costs
Instructor costs
Equipment and materials
Equipment maintenance & rental
Marketing
Human resources
Audit fee
Other direct costs
Donations
Support costs allocated to activities
General office & finance staff
Premises costs
Equipment maintenance. & rental
Marketing
Communications
Human resources
Legal & professional
Finance costs
Depreciation
Total		 Health &
Fitness
activities
Tennis
facilities
Other
Sporting
activities
Other
events
Conference
facilities
Governance
Advertising
Rental
income
Service
Contracts
2025
Total
2024
Total
£
£
£
£
£
£
£
£
£
£
£
123,545
136,963
155,249
244,086
219,973
-
-
3,979
38,015
921,810
983,059
39,735
135,832
9,765
-
-
-
-
-
-
185,332
128,706
-
-
-
2,190
-
-
-
-
-
2,190
4,516
1,417
-
607
44,914
44,977
-
-
-
1,500
93,415
76,108
89,880
-
-
-
-
-
-
-
-
89,880
7,650
834
349
1,037
319
319
-
-
-
-
2,858
1,289
-
-
-
-
-
16,800
-
-
-
16,800
17,388
22,241
25,500
46,385
42,178
3,017
-
-
116
22,609
162,046
110,257
-
-
-
-
-
-
-
-
-
-
1,187
187,402
146,507
117,319
44,419
22,102
-
-
27,137
17,116
562,002
437,291
29,688
89,089
121,755
49,090
31,273
-
-
14,848
-
335,743
276,637
73,201
57,191
45,764
17,319
8,614
-
-
10,560
6,688
219,337
310,690
7,531
5,884
4,709
1,782
886
-
-
1,086
688
22,566
71,682
3,744
2,970
2,341
886
440
-
-
540
342
11,263
9,499
8,038
7,574
9,193
1,936
1,010
-
-
790
1,325
29,866
11,698
20,684
5,732
6,957
1,465
765
-
-
597
1,002
37,202
28,398
6,577
5,139
4,112
1,556
774
-
-
949
601
19,708
16,712
9,979
7,796
6,238
2,361
1,174
-
-
1,439
912
29,899
52,212
624,496
626,526
531,431
454,501
335,324
16,800
-
62,041
90,798
2,741,917
2,544,979