|||Page|
|---|---|---|
|Report ofthe Trustees||1to10|
|Report ofthe Independent|Auditors|11to 13|
|Statement of Financial Activities||14to 15|
|Balance Sheet||16to 17|
|Cash Flow statement||18to 19|
|Notes to the Financial Statements||20to 34|
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||||||||3L3.23|31.3.22|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
||||||funds|funds|funds|Funds|
|||||Notes|E|E|E|f|
|INCOME|||||||||
|Income from donations|||||||||
|Donations|||||270,325||270,325|466,325|
|Income from charitable
activities|||||||||
|Operation
ofsports|facilities||||2,202,201|1,843,651|4,045,852|2,773,941|
|Operation
oftown|hall and|similar buildings|||234,505|17,500|252,005|237,827|
|Income from other|activities||||||||
|Commercial
operations|||||14,414||14,414|186,776|
|Investments|||||1,051||1,051|55|
|Total Income|||||2,722,496|1,861,151|4,583,647|3,664,924|
|EXPENDITURE|||||||||
|Charitable
activities|||||||||
|Operation
ofsports facilities|||||3,057,923|1,593,019|4,650,942|3,365,199|
|Operation
oftown|hall and|similar buildings|||596,311|20,208|616,519|379,960|
|Pension operating|charge||||356,000||356,000|282,000|
|Net interest on pension scheme|||liability|18|89,000||89,000|85,000|
|Total expenditure|||||4099(234|Lp613p227|5712p461|4 112159|
|NET INCOME/(EXPENDITURE)|||||(1,376,738)|247,924|(1,128,814)|(447 235)|
|Transfers between|funds||||77,564|(77,564)|||
||||||(1,299,174)|170,360|(1,128,814)|(447,235)|
|Other recognised|gains and losses||||||||
|Pension scheme actuarial||gain/(loss)||18|4,998,000||4,998,000|1,201,000|
|NET MOVEMENT|IN FUNDS||||3,698,826|170,360|3,869,186|753,765|
##
##
|||||||31.3.23|31.3.22|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Tota
I|
|||||funds|funds|funds|Funds|
||||Notes|E|E|F.|f|
|NET MOVEMENT|IN|FUNDS||3,698,826|170,360|3,869,186|753,765|
|RECONCILIATION|OF|FUNDS||||||
|Total funds brought||forward||(4,303,201)|53,562|(4,249,639)|(5,003,404)|
|TOTAL FUNDS CARRIED FORWARD||||||||
##
##
||||31.3.23|31.3.22|
|---|---|---|---|---|
|||Notes|E|E|
|FIXED ASSETS|||||
|Tangible assets|||561,229|491,902|
|CURRENT ASSETS|||||
|Stock||10|10,189|10,189|
|Debtors||11|389,343|434,350|
|Cash at bank and
in hand|||344,008|347,543|
||||743,540|792,082|
|CURRENT LIABILITIES|||||
|Amounts
falling due within|one year|12|(1,705,450)|(932,057)|
|NET CURRENT LIABILITIES|||(961,910)|(139,975)|
|TOTAL ASSETS LESSCURRENT LIABILITIES|||(400,681)|351,927|
|LONG TERM LIABILITIES|||||
|Amounts
falling due after more than one year||13|(1,226,772)|(1,295,566)|
|NET LIABILITIES EXCLUDING PENSION DEFICIT|||(1,627,453)|(943,639)|
|PENSION SCHEME SURPLUS/(DEFICIT)|||1,247,000|(3,306,000)|
|NET LIABILITIES INCLUDING|PENSION DEFICIT||||
|FUNDS|||||
|Unrestricted
funds||16|(1,851,375)|(997,201)|
|Restricted
funds||17|223,922|53,562|
|Pension scheme surplus/(deficit)||18|1,247,000|(3,306,000)|
|TOTAL FUNDS|||(380,453)|(4,249,639)|
##
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##
##
|||||31.3.23|31.3.22|
|---|---|---|---|---|---|
||||Notes|E|f|
|Cash flows from charitable|activities|||||
|Cash generated
from activities||||294,315|391,957|
|Net cash from charitable
activities||||294,315|391,957|
|Cash flows from Investing|activities|||||
|Interestincome||||1,051|55|
|Interest
paid||||(36,080)|(33,009)|
|Sale proceeds||||225|1,350|
|Purchase oftangible
fixed|assets|||(157,640)|(251,445)|
|Net cash from investing
activities||||(192,444)|(283,049)|
|Cash flows from financing|activities|||||
|New borrowings
in the year||||||
|Capital repayments
in the|year|||(105,406)|(95,252)|
|Net cash from financing
activities||||(105,406)|(95,252)|
|Increase/(decrease)
In cash and cash equivalents||||(3,535)|13,656|
|Cash and cash equivalents|at the beginning|ofthe year|2|347,543|333,887|
|Cash and cash equivalents|at the end ofthe|year|2|344,008|347,543|
##
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##
##
|||3L3.23|31.3.22|
|---|---|---|---|
|||6|E|
|Deficit for the year (before gains and losses on the pension scheme)||(1,128,814)|(447,235)|
|Interest receivable||(1,051)|(55)|
|Interest payable||36,080|33,009|
|Depreciation
charges||88,313|84,489|
|Pension scheme operating
and interest costs||445,000|367,000|
|Profit and loss on the disposal ofassets||(225)|(1,350)|
|||(560,697)|35,858|
|Decrease/(increase)|in stocks||(4,009)|
|Decrease/(increase)|in trade and other debtors|45,007|(91,442)|
|(Decrease)/Increase|in trade and other creditors|810,005|451,550|
|Cash generated
from charitable
activities||294,315|391,957|
##
##
##
|Year|ended 31"March 2023|||
|---|---|---|---|
|||31.3.23|1.4.22|
|||E|E|
|Cash|and cash equivalents|344,008|347,543|
|Year|ended 31"March 2022|||
|||31.3.22|1.4.21|
|||f|f|
|Cash|and cash equivalents|347,543|333,887|
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##
|||31.3.23|31.3.22|
|---|---|---|---|
|||E|f|
|Gifts in|kind —use of buildings|270,325|270,325|
|Donated|assets||196,000|
|||270,325|466,325|
##
##
|CHARITABLE ACTIVITI|ES|||||||
|---|---|---|---|---|---|---|---|
|||||||31.3.23|31.3.22|
|Unrestricted
Income:||||||||
|Grants from Hyndburn|Borough|||Council||280,540||
|Covid-19 grant from Hyndburn||||Borough Council|||108,395|
|Local council Covid-19|business|||grants|||78,551|
|Operational
income from Hyndburn|||||Borough Council|49,813|86,542|
|Job retention
scheme|grants||||||8,562|
|Income from the operation|||of leisure and arts facilities|||2,106,353|1,570,432|
|||||||2,436,706|1,852,482|
|Restricted Income:||||||||
|Bridging Communities||||||7,400|99,702|
|Business Health Matters||||||96,931|16,500|
|Cardiac Grant||||||16,668||
|Community
Champions|Fund||||||147,891|
|CommunIty
Ownership|Fund|||||185,016||
|Culture
and Heritage
Fund||||||462||
|Events at Accrington
Town|||Hall|||18,677|109|
|Fixed assets|||||||1,055|
|Green Gym|||||||2,240|
|Healthier
Communities||||||145,555|31,790|
|Holiday Activity
Fund||||||404,228|349,381|
|Household
Support
Fund||||||728,788|131,595|
|Innovate
UK||||||2,926||
|Lancashire
environmental||fund|||||30,000|
|Nationa
I Lottery Grant||||||8,328|119,690|
|PASTA||||||38,375|7,235|
|Phase 4at Accrington|Town||I-lail||||2,033|
|Suicide Prevention
Fund||||||101||
|Together an Active Future||—Sport|||England|142,801|143,614|
|Warm Space Grant||||||500||
|Weight Management|—Lancashire||||County Council|64,395|76,451|
|||||||1,861,151|1,159,286|
|||||||4,297,857|3,011,768|
##
##
##
|OTHER ACTIVITIES|—COMMERCIAL OPERATIO|NS|||
|---|---|---|---|---|
||||31.3.23|31,3,22|
|||||f|
|Income from delivery ofthe Covid Community||Hub||186,776|
|Other commercial|income||14,414||
||||14,414|186,776|
##
##
|||Sports facilities|Town hall|&|Total 2023|
|---|---|---|---|---|---|
||||buildings|||
|||E||E||
|Unrestricted
expenses:||||||
|Costs directly allocated to activities:||||||
|Salaries,
Nl and pensions||1,203,188|278,635||1,481p823|
|Other staff costs||8,396||2,420|10,816|
|Premises costs||654,262|84,855||739,117|
|Promotlons
and marketing||1772||2,150|3,922|
|Depreciation||81,498||202|81,700|
|Profit and loss on disposal||225|||225|
|Gifts in kind —use of buildings||270,325|||270,325|
|Other costs||190,141|99,081||289,222|
|||2,409,807|467,343||2,877,150|
|Support and governance|costs allocated:|||||
|Support costs (note 6)||624,734|124,408||749,142|
|Governance
costs (note 6)||23,382||4,560|27,942|
|||648,116|128,968||777,084|
|||3,057,923|596,311||3,654,234|
|Restricted expenses (note 17):||||||
|Salaries,
Nl and pensions||556,103|||556,103|
|Other staff costs||1,015|||1,015|
|Premises costs||2,214|||2,214|
|Promotions
and marketing||4,440|||4,440|
|Depreciation||6,611|||6,611|
|Project delivery costs||1,011,109|20,208||1p031,317|
|Other costs||11,527|||11,527|
|||1,593,019|20,208||1,613,227|
|||4,650,942|616,519||5,267,461|
##
##
##
##
|||Sports|Town hall &|Total 2022|
|---|---|---|---|---|
|||facilities|buildings||
|||E|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||4,667|1,549|6,216|
|Depreciation||80,317|895|81,212|
|Notional cost ofgym equipment||(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|
|||2,237,333|379,960|2,617,293|
|Restricted expenses:|||||
|Salaries,
Nl and pensions||656,551||656,551|
|Other staff costs||21||21|
|Premises costs||5,540||5,540|
|Promotions
and marketing||220||220|
|Depreciation||3,153||3,153|
|ProJect delivery costs||13,721||13,721|
|Othercosts||448,660||448,660|
|||1,127,866||1,127,866|
|||3,365,199|379,960|3,745,159|
##
##
##
##
|Net resources are stated|Net resources are stated|after charging;|after charging;|after charging;||||
|---|---|---|---|---|---|---|---|
|||||||31.3.23|31.3.22|
|||||||f|f|
|Auditors'
remuneration:||Audit fee||||8,200|8,200|
|Auditors'
remuneration:||Non-audit||services||12,251|9,900|
|Operating
lease rentals||—other||||458|2,629|
|Operating
lease rentals||—property||||270,325|270,325|
|Indemnity
insurance|for trustees||and senior||staff|402|1,400|
|Depreciation||||||81,498|84,488|
|Profit and loss on disposal||||||225|(1,350)|
|STAFF COSTS||||||||
|||||||31.3.23|31.3.22|
|||||||f|f|
|Wages and salaries||||||2,043,461|1,571,801|
|Social security costs||||||118,194|93,776|
|Other pension costs||||||278,256|230,568|
|||||||2,439,911|1,896,145|
|The average
monthly|number of employees||||during the year was as follows:|||
|||||||31.3.23|31.3.22|
|Employees||||||157|133|
##
##
##
##
##
|||Freehold|Improvements|Facilities|Fixtures &||
|---|---|---|---|---|---|---|
|||Property|to property||Equipment|Totals|
|||6|E||E||
|COST|||||||
|At 1"April 2022||235,231|435,602|371p163|1p304p268|2,346,264|
|Additions||157,640||||157,640|
|At 31"March 2023||392,871|435,602|371,163|1,304,268|2,503,904|
|DEPRECIATION|||||||
|At 1n April 2022||784|336,944|371,163|1,145,471|1,854,362|
|Charge for year||5,229|19,998||63,086|88,313|
|At 31"March 2023||6,013|356,942|371,163|1,208,557|Lp942,675|
|NET BOOK VALUE|||||||
|At 31"March|2023|386,858|78,660||95,711|561,229|
|At 31u March|2022|234,447|98,658||158,797|491,902|
|STOCK|||||||
||||||31.3.23|31.3.22|
||||||F.|E|
|Bar stocks|||||6,771|6,771|
|Pool chemicals|||||1,085|1,085|
|Vending
and food|||||2I333|2,333|
||||||10,189|10,189|
|DEBTORS:AMOUNTS||FALLING DUE WITHIN|ONE YEAR||||
||||||31.3.23|31.3.22|
||||||f|f|
|Trade debtors|||||86,395|79,363|
|Prepayments|and accrued income||||305,948|354,987|
||||||392,343|434,450|
##
##
##
##
##
##
##
##
||||||31.3.23|31.3.22|
|---|---|---|---|---|---|---|
||||||E|f|
|Trade creditors|||||122,398||
|Taxation|and social security||||87,992|44,743|
|Amounts|owed|to Hyndburn||Borough Council|886,046|316,041|
|Hire purchase||contracts|||3,648|42,127|
|Accruals|and deferred
income||||605,366|529,146|
||||||1,705,450|932,057|
|CREDITORS'.AMOUNTS|||FALLING DUE AFTER MORE THAN ONE YEAR||||
||||||31.3.23|31.3.22|
||||||f|E|
|Amounts|owed|to Hyndburn||Borough Council|1,226,772|1,291,918|
|Hire purchase||contracts||||3,648|
||||||1,226,772|1,295,566|
##
##
##
|||||31.3.23|31.3.22|
|---|---|---|---|---|---|
|||||f|f|
|Expiry date:||||||
|Within 1year||||||
|Between one and five years|||||438|
||||||438|
|ANALYSIS OF NET LIABILITIES BETWEEN FUNDS||||||
|||||31.3.23|31.3.22|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|Funds|
|||6|E|E|f|
|Fixed assets||390,452|170,777|561,229|491,902|
|Current|assets|690,395|53,145|743,540|792,082|
|Current|liabilities|(1,705,450)||(1,705,450)|(932,057)|
|Long term liabilities||(1,226,772)||(1,226,772)|(1,295,566)|
|Pension|scheme surplus|1,247,000||1,247,000|(3,306,000)|
|||(604,375)|223,922|(380,453)|(4,249,639)|
##
|UNRESTRICTED FU|NDS|||||
|---|---|---|---|---|---|
|||Pension|General|Designated|Total|
|||(deficit)/surplus
E|funds
E|funds
f|funds
E|
|Balance at 1n April|2022|(3,306,000)|(999,282)|2,081|(4,344,792)|
|Net income / (expenditure)||4,553,000|(931,738)||3,621,259|
|Transfers between|funds||78,173|(609)|77,564|
|||1,247,000|(1,852,847)|1,472|(604,375)|
##
##
|RESTRICTED FUNDS|||||||||
|---|---|---|---|---|---|---|---|---|
||||At 1"April|Incoming|Outgoing|Fund|At|31"March|
||||2022|resources|resources|transfers||2023|
||||E|f|E||E|f|
|Project fund|||||||||
|Bridging Communities||||7,400|(7,400)||||
|Business Health Matters||||96,931|(96,931)||||
|Cardiac Grant||||16,668|(16,668)||||
|Community
Ownership|Fund|||185,016|(27,377)|(157,639)|||
|Culture
and Heritage|Fund|||462|(462)||||
|Events at Accrington
Town||Hall|3,813|18,677|(20,208)|||2,282|
|Fixed assets|||19,749||(6,611)|157,639||170,777|
|Healthier
Communities||||145,555|(115,892)|(17,681)||11,982|
|Holiday Activity
Fund||||404,228|(333,190)|(58,723)||12,315|
|Household
Support
Fund||||728,788|(728,788)||||
|Innovate
UK||||2,926|(2,926)||||
|Lancashire
Environmental||Fund|30,000||(30,000)||||
|National
Lottery Grant||||8,328||||8,328|
|PASTA||||38,375|(18,977)|(1,160)||18,238|
|Suicide prevention
Fund||||101|(101)||||
|Together
an Active Fund||||142,801|(142,801)||||
|Warm Space Grant||||500|(500)||||
|Weight Management||||64,395|(64,395)||||
||||53,562|1,861,151|(1,613,227)|(77,564)||223,922|
##
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##
##
|Net Pension surplus/(deflclt):|Net Pension surplus/(deflclt):|Net Pension surplus/(deflclt):|||
|---|---|---|---|---|
||||31.3.23|31.3.22|
||||f|f|
|Lancashire|County|Pension Scheme|1,247,000|(3,306,000)|
||||1,247,000|(3,306,000)|
|||||31.3.23|31.3.22|
|---|---|---|---|---|---|
|Rate of CPI inflation||||2.70|3.30|
|Rate ofincrease
in salaries||||4.20|4.80|
|Rate ofincrease
in pensions||||2.80|3.40|
|Discount rate||||4.80|2.80|
|Life expectancy ofa male future pensioner||aged 65 in 20years'||22.80|23.70|
|time||||||
|Life expectancy of a female future|pensioner||aged 65 in 20 years'|25.60|26.80|
|time||||||
|Life expectancy of a male current
pensioner||aged 65||21.50|22.30|
|Life expectancy of a female current|pensioner||aged 65|23.80|25.00|
|The amounts
recognised
ln the balance sheet||are as follows:||||
|||||31.3.23|31.3.22|
||||||f|
|Present value offunded
obligations||||(Tp465p000)|(11,807,000)|
|Fair value of plan assets||||Bp712p000|8,501,000|
|Net pension
surplus/(deficit)||||1,247,000|(3,306,000)|
##
##
|Analysis|of amounts
charged to the Statement|of amounts
charged to the Statement|of amounts
charged to the Statement|of amounts
charged to the Statement|of|Financial Activities;|Financial Activities;|Financial Activities;|Financial Activities;|||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||31.3.23|31.3.22|
|||||||||||E|f|
|Operating
charge||||||||||||
|Current|service cost|||||||||620,000|498,000|
|Administration
expenses||||||||||9,000|7,000|
|Total operating
charge||||||||||629,000|505,000|
|Other finance costs||||||||||||
|Expected return
on pension
scheme|||assets|||||||(239,000)|(155,000)|
|Interest|on pension scheme liabilities|||||||||328,000|240,000|
|Net charge||||||||||89,000|85,000|
|Total charge to resources expended|||in|Statement||of Financial||Activities||718,000|590,000|
|Analysis|ofthe actuarial|gains and losses shown|||ln|the Statement|||of Financial|Activities:||
|||||||||||31.3.23|31.3.22|
||||||||||||E|
|Actuarial|gains/(losses)|on assets||||||||(99,000)|902,000|
|Actuarial|gains/(losses)|on liabilities||||||||5,097,000|299,000|
|Actuarial|gain / (loss) recognised|||||||||4,998,000|1.,201,000|
|Changes|in the fair value|ofthe defined||benefit|obligation||are|as|follows:|||
|||||||||||31.3.23|31.3.22|
|||||||||||E|E|
|Opening|defined
benefit|obligation||||||||11,807,000|11,475,000|
|Current|service cost|||||||||620,000|498,000|
|Interest|on pension scheme liabilities|||||||||328,000|240,000|
|Employee contributions||||||||||91,000|73,000|
|Actuarial|(gains)/losses|||||||||(5,097,000)|(299,000)|
|Benefits|paid / transfers|||||||||(284,000)|(180,000)|
|Closing|defined
benefit|obligations||||||||7,465,000|11,807,000|
##
||||||||||31.3.23|31.3.22|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||f|f|
|Opening|fair|value of plan|||assets|||S,501,000||7,335,000|
|Expected|return||on plan|assets|||||239,000|155,000|
|Actuarial|gains||||||||(99,000)|902,000|
|Employer|contributions||||||||(9,000)|223,000|
|Employee|contributions||||||||273,000|73,000|
|Administration||expenses|||||||91,000|(7,000)|
|Benefits|paid|/ transfers|||||||(284,000)|(180,000)|
|Closing fair value of plan|||||assets||||8,712,000|8,501,000|
|The split ofassets|||between||investment|categories|is as follows:||||
||||||||2023|2023|2022|2022|
||||||||f||f|'Yo|
|Equities|||||||9,000|0.10|8,000|0.10|
|Government||bonds|||||||68,000|0.80|
|Other bonds|||||||17,000|0.20|||
|Property|||||||131,000|1.50|136,000|1.60|
|Cash/liquidity|||||||70,000|0.80|213,000|2.50|
|Other|||||||8,485,000|97.40|8,076,000|95.00|
||||||||8,712,000|100.00|8,501,000|100.00|
|Amounts|for the||current|and previous||periods are as follows:|||||
||||||||2023|2022|2021|2020|
||||||||f|f|f|f|
|Defined|benefit||obligation||||(7,465,000)|(11,807,000)|(11,475,000)|(9,298,000)|
|Plan assets|||||||8,712,000|8,501,000|7,335,000|6,517,000|
||||||||1,247,000|(3,306,000)|(4,140,000)|(2,781,000)|
##
|Hyndburn
B|orough Coun|cil at 31March 2023 are summa rised as|follows:||
|---|---|---|---|---|
||||31.3.23|31.3.22|
||||E|f|
|Unrestricted|grant income||280,540||
|COVID-19 Grant funding||receivable —unrestricted||108,395|
|Unrestricted|operational|income|49,813|86,542|
|Net amounts|owed to Hyndb urn Borough Council||2,112,818|1,607,959|