|||Page|
|---|---|---|
|Report ofthe Trustees||1to 10|
|Report ofthe Independent|Auditors|11to 13|
|Statement of Financial Activities||14to 13|
|Balance Sheet||16to 17|
|Cash Flow statement||18to 19|
|Notes to the Financial Statements||20to 34|
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||||||||31.3.22|31.3.21|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restncted|Tota I|Tota
I|
||||||funds|funds|funds|Funds|
|||||Notes|E|f|E|E|
|INCOME|||||||||
|Income from donations|||||||||
|Donations||||2|466,325||466,325|270,325|
|Income from charitable||activities|||||||
|Operation
ofsports|facilities||||1,616,797|1,157,144|2,773,941|1,980,798|
|Operation
oftown|hall and similar||buildings||235,685|2,142|237,827|127,406|
|Income from other|activities||||||||
|Commercial
operations|||||186,776||186,776|340,971|
|Investments|||||55||55|79|
|Total income|||||2,505,638|1~159~286|3p664p924|2)719579|
|EXPENDITURE|||||||||
|Charitable
activities|||||||||
|Operation
ofsports|facilities||||2,237,333|1,127,866|3,365,199|2,095,070|
|Operation
oftown
hall and similar|||buildings||379,960||379,960|624,516|
|Pension operating
charge|||||282,000||282,000|116,460|
|Net interest on pension scheme liability||||18|85,000||85,000|64,000|
|Total expenditure|||||2,984,293|1,127,866|4,112,159|2,900,046|
|NET INCOME/(EXPENDITURE)|||||(478,655)|31420|(447,235)|(180,467)|
|Transfers between|funds||||87,677|(87,677)|||
||||||(390,978)|(56,257)|(447,235)|(180,467)|
|Other recognised
gains and losses|||||||||
|Pension scheme actuarial||gain/(loss)||18|1,201,000||1,201,000|(1,171,000)|
|NET MOVEMENT
IN|FUNDS||||810p022|(56257)|753p765|(1351467)|
##
##
||||||31.3.22|31.3.21|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|Funds|
|||Notes|E|E|E|E|
|NET MOVEMENT|IN FUNDS||810,022|(56,257)|753,765|(1,351,467)|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought forward|||(5,113,223)|109,819|(5,003,404)|(3,651,937)|
|TOTAL FUNDS CARRIED FORWARD|||(4,303,201)|53,562|(4,249,639)|(5,003,404)|
##
##
||||31.3.22|31.3.21|
|---|---|---|---|---|
|||Notes|E|E|
|FIXED ASSETS|||||
|Tangible assets|||491,902|324,946|
|CURRENT ASSETS|||||
|Stock||10|10,189|6,180|
|Debtors||11|434,350|342,908|
|Cash at bank and in hand|||347,543|333,887|
||||792,082|682,975|
|CURRENT LIABILITIES|||||
|Amounts
falling due within|one year|12|(932,057)|(470,363)|
|NET CURRENT LIABILITIES|||(139,975)|212,612|
|TOTAL ASSETS LESSCURRENT LIABILITIES|||351,927|537,558|
|LONG TERM LIABILITIES|||||
|Amounts
falling due after more than one year||13|(lp295~566)|(1400962)|
|NET ASSETS EXCLUDING PENSION DEFICIT|||(943,639)|(863,404)|
|PENSION SCHEME DEFICIT||18|(3,306,000)|(4,140,000)|
|NET LIABILITIES INCLUDING|PENSION DEFICIT||(4 249 639)|(5003404)|
|FUNDS|||||
|Unrestricted
funds||16|(997,201)|(973,223)|
|Restricted funds||17|53,562|109,819|
|Pension scheme deficit||18|(3,306,000)|(4,140,000)|
|TOTALFUNDS|||(4,249,639)|(5,003,404)|
##
##
|||||31.3.22|31.3.21|
|---|---|---|---|---|---|
||||Notes|E|E|
|Cash flows from charitable|activities|||||
|Cash generated
from activities||||359,974|(855,438)|
|Net cash from charitable
activities||||359,974|(855,438)|
|Cash flows from investing|activities|||||
|Interestincome||||55|79|
|Interest
paid||||(33,009)|(14,871)|
|Sale proceeds||||1,350||
|Purchase oftangible fixed|assets|||(251,445)|(8,277)|
|Net cash from investing
activities||||(283p049)|(23,069)|
|Cash flows from financing|activities|||||
|New borrowings
in the year|||||1,123,008|
|Capital repayments
in the|year|||(63,269)|(56,367)|
|Net cash from financing
activities||||(63,269)|1,066,641|
|Increase/(decrease)
in cash and cash equivalents||||13,656|188,134|
|Cash and cash equivalents|at the beginning|ofthe year||333,887|145,753|
|Cash and cash equivalents|at the end ofthe|year||347,543|333,887|
##
##
##
||||31.3.22|31.3.21|
|---|---|---|---|---|
|||||E|
|Deficit for the year|||(447,235)|(180,467)|
|Interest receivable|||(55)|(79)|
|Interest payable|||33,009|14,871|
|Depreciation
charges|||84,488|87,224|
|Profit and loss on the disposal ofassets|||(1,350)||
||||(331,143)|(78,451)|
|Decrease/(increase)|in stocks||(4,009)|4,817|
|Decrease/(increase)|in trade and other debtors||(91,442)|(169,917)|
|(Decrease)/increase|in trade and other creditors||419,568|(792,347)|
|Pension scheme operating
and||interest costs|367,000|180,460|
|Cash generated
from|charitable
activities||359,974|(855,438)|
##
|Year|ended 31"March 2022|||
|---|---|---|---|
|||31.3.22|1.4.21|
|||f|E|
|Cash|and cash equivalents|347,543|333,887|
|Year|ended 31"March 2021|||
|||31.3.21|1.4.20|
|||E|f|
|Cash|and cash equivalents|333,887|145,753|
##
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##
|DONATIONS|||||
|---|---|---|---|---|
||||31.3.21|31.3.20|
||||E|E|
|Gifts in kind —use of buildings|||270,325|270,325|
|Donated assets|||196,000||
||||466,325|270,325|
|In 2021,ofthe total donation|income, F270,325 was unrestricted|funds.|||
##
##
|CHARITABLE ACTIVITIES||||||
|---|---|---|---|---|---|
|||||31.3.22|31.3.21|
|Unrestricted
income:||||||
|Grants from Hyndburn
Borough||Council|||75,000|
|Covid-19 grant from Hyndburn||Borough Council||108,395|705,320|
|Local council Covid-19 business||grants||78,551|203,080|
|Other income from Hyndburn|Borough Council|||86,542|38,550|
|Notional
income from Hyndburn|||Borough Council||16,335|
|Job retention
scheme grants||||8,562|498,390|
|Income from the operation of|leisure and arts facilities|||1,570,432|235,262|
|||||1,852,482|1,771,937|
|Restricted income:||||||
|Business Health Matters||||99,702||
|Cardiac Fund||||16,500|1,628|
|Consultancy
—Lottery Fund|||||4,540|
|Community
Champions
Fund||||147,891||
|Door Step Activity
Fund
—Street||Games Fund|||130|
|Events at Accrington
Town
Hall||||109||
|Feasibility study|||||10,000|
|Fixed assets||||1,055|8,935|
|Green Gym —Sport England||||2p240|15,613|
|Healthier
Communities||||31,790||
|Holiday Activity
Fund||||349,381||
|Household
Support
Fund||||131,595||
|Lancashire
Environmental
Fund||||30,000|16,420|
|National
Recovery Lottery Fund||-Sport England||119,690|51,296|
|PASTA||||7,235||
|Phase 4at Accrington
Town
Hall||||2,033|1,324|
|Room to Play
—Garfield Grant|||||10,000|
|Together an Active Future —Sport|||England|143,614|154,787|
|Up and Active —Lancashire
County|||Council||35,227|
|Weight Management
—Lancashire|||County Council|76,451|26,367|
|||||1,159,286|336,267|
|||||3,011,768|2,108,204|
##
##
##
|||Sports facilities|Town hall &|Tota I 2022|
|---|---|---|---|---|
||||buildings||
|||E|E||
|Unrestricted
expenses:|||||
|Costs directly allocated to activities:|||||
|Salaries,
Nl and pensions||774,592|143'995|918,587|
|Other staff costs||7,272|2,530|9,802|
|Premises costs||449'964|78,432|528,396|
|Promotions
and marketing||4p667|1,549|6,216|
|Depreciation||80,317|895|81,212|
|Profit and loss on disposal||(1,350)||(1,350)|
|Gifts in kind —use of buildings||270,325||270,325|
|Bad and doubtful
debts||7,053||7,053|
|Other costs||139,256|53,769|193,025|
|||1,732,096|281,170|2,013,266|
|Support
and governance|costs allocated:||||
|Support costs (note 6)||472,432|93,219|565,651|
|Governance
costs (note 6)||32,805|5,571|38'376|
|||505,237|98,790|604,027|
|||2I237.333|379,960|2,617,293|
|Restricted expenses:|||||
|Salaries,
Nl and pensions||656p551||656,551|
|Other staff costs||21||21|
|Premises costs||5,540||Sp540|
|Promotions
and marketing||220||220|
|Depreciation||3,153||3,153|
|Other costs||462,381||462,381|
|||1,127,866||1,127p866|
|||3,365,199|379,960|3,745,159|
##
##
##
|||Sports|Town hall &|Total 2021|
|---|---|---|---|---|
|||facilities|buildings||
|||E|E|E|
|Unrestricted
expenses:|||||
|Costs directly allocated to activities:|||||
|Salaries,
Nl and pensions||891,011|127,790|1,018,801|
|Other staff costs||4,078|310|4,388|
|Premises costs||345,159|66,372|411,531|
|Promotions
and marketing||10,466|2,090|12,556|
|Depreciation||79,644|895|80,539|
|Notional cost ofgym equipment||16,335||16,335|
|Gifts in kind —use of buildings|||270,325|270,325|
|Other costs||32,657|14,403|47,060|
|||1,379,350|482,185|1,861,535|
|Support and governance|costs allocated:||||
|Support costs (note 6)||374,141|132,894|507,035|
|Governance
costs (note 6)||21,824|7,657|29,481|
|||395,965|140,551|536,516|
|||1,775,315|622,736|2,398,051|
|Restricted expenses:|||||
|Salaries,
Nl and pensions||219,732||219,732|
|Other staff costs||225||225|
|Premises costs||12,772||12,772|
|Prom otions and marketing||6,492||6,492|
|Depreciation||6,440||6,440|
|Other costs||74,094|1,780|75,874|
|||319,755|1,780|321,535|
|||2,095,070|624,516|2,719,586|
##
##
|Net resources are stated|Net resources are stated|Net resources are stated|after|charging:|charging:|charging:||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||31.3.22|31.3.21|
|||||||||E|E|
|Auditors'|remuneration:||Audit|fee||||8,200|8,200|
|Auditors'|remuneration:||Non-audit|||services||9,900||
|Operating|lease rentals||—other|||||2,629|2,629|
|Operating|lease rentals —property|||||||270,325|270,325|
|Indemnity|insurance|for|trustees||and senior||staff|1,400|1,297|
|Depreciation||||||||84,488|87,224|
|Profit and|loss on disposal|||||||(1,350)||
|STAFF COSTS||||||||||
|||||||||31.3.22|31.3.21|
|||||||||f|E|
|Wages and salaries||||||||1,571,801|1,252,143|
|Social security costs||||||||93,776|65,093|
|Other pension costs||||||||230,568|182,067|
|||||||||1,896,145|1,499,303|
|The average
monthly||number||ofemployees|||during the year was as follows:|||
|||||||||31.3.22|31.3.21|
|Employees||||||||133|133|
##
##
##
##
|||Freehold|Freehold||Improvements|Improvements|Facilities|Fixtures &||
|---|---|---|---|---|---|---|---|---|---|
|||Property|||to property|||Equipment|Totals|
||||E|||E||E||
||COST|||||||||
||At 1"April 2021||||435,602||371163|tp288g054|2094~819|
||Additions||235,231|||||16,214|251,445|
||At 31*'March 2022||235,231||435,602||371163|1~304p268|2p346~264|
||DEPRECIATION|||||||||
||At 1"April 2021||||324|278|371163|1(074433|1p769874|
||Charge for year|||784|12,666|||71,038|84,488|
||At 31n March 2022||784||336,944||371,163|1p145471|1p845p362|
||NET BOOK VALUE|||||||||
||At 31"March 2022||234,447||98,658|||158,797|491,902|
||At 31"March 2021||||111,325|||213,621|324,946|
|10.|STOCK|||||||||
|||||||||31.3.22|31.3.21|
|||||||||E|E|
||Bar stocks|||||||6,771|2,439|
||Pool chemicals|||||||1,085|2,325|
||Vending and food|||||||2.333|1,416|
|||||||||10p189|6,180|
|11.|DEBTORS:AMOUNTS|FALLING DUE|WITHIN ONE YEAR|||||||
|||||||||31.3.22|31.3.21|
|||||||||E|E|
||Trade debtors|||||||79'363|12,909|
||Prepayments
and accrued income|||||||354,987|329,699|
||Other debtors||||||||300|
|||||||||434,450|342,908|
##
##
##
||||||31.3.22|31.3.21|
|---|---|---|---|---|---|---|
||||||E|E|
|Trade creditors||||||1,200|
|Taxation|and social security||||44,743|39,522|
|Amounts|owed to Hyndburn|||Borough Council|316,041|64,552|
|Hire purchase||contracts|||42,127|39,092|
|Accruals|and deferred
income||||529,146|325,997|
||||||932,057|470,363|
|CREDITORS: AMOUNTS|||FALLING DUE AFTER MORE THAN ONE YEAR||||
||||||31.3.22|31.3.21|
||||||E|f|
|Amounts|owed|to Hyndburn||Borough Council|1p291,918|1,355,187|
|Hire purchase||contracts|||3,648|45,775|
||||||1,295,566|1,400,962|
##
##
|||||31.3.22|31.3.21|
|---|---|---|---|---|---|
|||||f|E|
|Expiry date:||||||
|Within|1year|||438|2,629|
|Between one and five years|||||438|
|||||438|3,067|
|ANALYSIS OF NET LIABILITIES BETWEEN FUNDS||||||
|||||31.3.22|31.3.21|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|Funds|
|||E|E|f|E|
|Fixed assets||472,153|19,749|491,902|324,946|
|Current|assets|758,269|33,813|792,082|682,975|
|Current|liabilities|(932,057)||(932,057)|(470,363)|
|l.ong term liabilities||(1,295,566)||(1,295,566)|(1,400,962)|
|Pension|scheme deficit|(3,306,000)||(3,306,000)|(4,140,000)|
|||(4,303,201)|53,562|(4,249,639)|(5,003,404)|
##
##
|UNRESTRICTED FU|NDS|||||
|---|---|---|---|---|---|
|||Pension|General|Designated|Total|
|||deficit|funds|funds|funds|
|||E|E|E|E|
|Balance at 1"April|2021|(4,140,000)|(975,304)|2,081|(5,113,223)|
|Net income / (expenditure)||834,000|(111,655)||722,345|
|Transfers between|funds||8' 677||87,677|
|||(3,306,000)|(999,282)|2,081|(4,303,201)|
##
##
##
|RESTRICTED FUNDS|||||||||
|---|---|---|---|---|---|---|---|---|
|||||At 1"April|Incoming|Outgoing|Fund|At31"March|
|||||2021|resources|resources|transfers|2022|
|||||E|E|E|E|E|
|Project fund|||||||||
|Business Health Matters|||||99,702|(99,702)|||
|Cardiac Grant||||1,628|16,500|(18,128)|||
|Community
Champions|Fund||||147,891|(87,891)|(60,000)||
|Events at Accrington
Town|||Hall|3,704|109|||3,813|
|Fixed assets||||22'902|1,055|(4,208)||19,749|
|Green Gym|||||2,240|(2,240)|||
|Healthier
Communities|||||31,790|(28,720)|(3,070)||
|Holiday Activity
Fund|||||349,381|(324,774)|(24,607)||
|Household
Support
Fund|||||131,595|(131,595)|||
|Lancashire
Environmental||Fund|||30,000|||30,000|
|Lottery Fund
—Consultancy||||4,540||(4,540)|||
|National
Recovery Lottery||Fund|||119,690|119,690|||
|PASTA|||||7,235|(7,235)|||
|Phase 4 at Accrington|Town||Hall|519|2,033|(2,552)|||
|Together an Active Fund||||14,147|143,614|(157,761)|||
|Up and Active||||62,379||(62,379)|||
|Weight Management|||||76,451|(76,451)|||
|||||109,819|1,159,286|(1,127,866)|(87,677)|53,562|
##
##
##
##
##
##
##
##
|Net Pension Deficits:|Net Pension Deficits:|||
|---|---|---|---|
|||31.3.22|31.3.21|
|||E|E|
|Lancashire|County Pension Scheme|3,306'000|4,140,000|
|||3p306,000|4,140,000|
##
##
|||||31.3.22|31.3.21|
|---|---|---|---|---|---|
|Rate of CPI inflation||||3.30|2.70|
|Rate ofincrease|in salaries|||4.80|4.20|
|Rate ofincrease|in pensions|||3.40|2.80|
|Discount rate||||2.80|2.10|
|Life expectancy|of a male future pensioner|aged 65 in 20 years'||23.70|23.90|
|time||||||
|Life expectancy|ofa female future pensioner||aged 65 in 20 years'|26.80|26.90|
|time||||||
|Life expectancy|of a male current pensioner|aged 65||22.30|22.40|
|Life expectancy|ofa female current pensioner||aged 65|25.00|25.10|
##
|The amounts
recognised||in t|he balanc|e sheet a|re as follo|ws:|||
|---|---|---|---|---|---|---|---|---|
||||||||31.3.22|31.3.21|
||||||||E|E|
|Present value offunded||obligations|||||(11p807,000)|(11,475,000)|
|Fair value of plan assets|||||||8,501,000|7,335,000|
|Net pension
deficit|||||||(3,306,000)|(4,140,000)|
|Analysis ofamounts
charged|||to the Statement||of Financial Activities:||||
||||||||31.3.22|31.3.21|
||||||||E|f|
|Operating
charge|||||||||
|Current service cost|||||||498,000|298,000|
|Administration
expenses|||||||7,000|6,000|
|Total operating
charge|||||||505,000|304,000|
|Other finance costs|||||||||
|Expected return
on pension|||scheme|assets|||(155,000)|(158,000)|
|Interest on pension
scheme|||liabilities||||240,000|222,000|
|Net charge|||||||85,000|64,000|
|Total charge to resources||expended||in Statement of Financial Activities|||590,000|368,000|
|Analysis ofthe actuarial|gains and losses shown||||in the Statement of Financial||Activities:||
||||||||31.3.22|31.3.21|
||||||||E|E|
|Actuarial
gains on assets|||||||902,000|559,000|
|Actuarial gains/(losses)|on liabilities||||||299,000|(1,730,000)|
|Actuarial
gain / (loss) recognised|||||||1,201,000|(1,171,000)|
|Changes
in the fair value|ofthe defined benefit||||obligation|are as follows:|||
||||||||31.3.22|31.3.21|
||||||||E|E|
|Opening
defined benefit||obligation|||||11,475,000|9,298,000|
|Current service cost|||||||498,000|298,000|
|Interest on pension scheme|||liabilities||||240,000|222,000|
|Employee
contributions|||||||73,000|58,000|
|Actuarial
(gains)/losses|||||||(299,000)|1,730,000|
|Benefits paid / transfers|||||||(180,000)|(131,000)|
|Closing defined benefit obligations|||||||11,807,000|11,475,000|
##
|Changes
in the|f|air value o|f plan asset|s are as follo|ws:||||
|---|---|---|---|---|---|---|---|---|
||||||||31.3.22|31.3.21|
||||||||E|E|
|Opening fair|value of plan assets||||||7,335,000|6,517,000|
|Expected return||on plan assets|||||155p000|158,000|
|Actuarial
gains|||||||902,000|559,000|
|Employer contributions|||||||223,000|180,000|
|Employee
contributions|||||||73p000|58,000|
|Administration||expenses|||||(7,000)|(6,000)|
|Benefits paid|/ transfers||||||(180,000)|(131,000)|
|Closing fair value of plan|||assets||||8,501,000|7,335,000|
|The split ofassets between|||investment|categories|is as follows:||||
||||||2022|2022|2021|2021|
||||||E||E||
|Equities|||||8,000|0.10|3,440,000|46.90|
|Government|bonds||||68,000|0.80|||
|Other bonds|||||||||
|Property|||||136,000|1.60|1,042,000|14.20|
|Cash/liquidity|||||213,000|2.50|161,000|2.20|
|Other|||||8,076,000|95.00|2,692,000|36.70|
||||||7,335,000|100.00|7,335,000|100.00|
|Amounts
for the||current and previous||periods are|as follows:||||
||||||2022|2021|2020|2019|
||||||E|E|E|E|
|Defined benefit||obligation||(11,807,000)||(11,475,000)|(9,298,000)|(8,638,000)|
|Plan assets|||||8,501,000|7,335,000|6,517,000|6,173,000|
|||||(3,306,000)||(4,140,000)|(2,781,000)|(2,465,000)|
##
||||31.3.22|31.3.21|
|---|---|---|---|---|
||||E|E|
|Grant funding|receivable|—unrestricted||75,000|
|COVID-19 Grant funding||receivable —unrestricted|108,395|705,320|
|Other income|receivable|—unrestricted|86,542|38,550|
|Net amounts|owed to Hyndburn
Borough Council||1,607,959|1,419,739|
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