REGISTERED COMPANY NUMBER: 04212946 {England and Wales) REGISTERED CHARITY NUMBER: 1090921 Report of the Trustees and Financial Statements for the Yoar Ended 30 September 2024 Ribble Valley Sports and Recreation Trading as Roefield Leisure Bennett Kirkhope Smith Ltd Chartered Certrfied Accountants and Statutory Auditors Suites 5 & 6 The PrInorkS Hey Road Barrow Clitheroe Lancashire BB7 9WB
Rlbbl& Valloy Sports and Re¢r•atlon Trading as Roefield Leisure Contents of the Financial Statements for the Year Ended 30 September 2024 Page Report of the Trustees Report of the Independent Auditors 7 to 10 Statement of Financial Activities Balance Sheet 12 Cash Flow Statement 13 Notes to the Cash Flow Statement 14 Notes to the Financial Statements 15 to 29 Detalled Statement of Financial Activities 30 to 31
Rlbble Valley Sports and Recrèation Trading as Roefield Leisure Report of the Trustees for the Year Ended 30 September 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019)- OBJECTIVES AND ACTIVITIES Objectives and aims The companvs principal objectives. as set out in the Memorandum of Association are:. "to provide or assist in the provision of facilities for the recreation and other leisure time occupation of the inhabitants of Ribble Valley district and in particular by the provision of buildings to be used for the purpose of improving the conditions of life for the persons for whom the facilities are primarily intended who by reason of their youth andlor social or economic circumstances are in need of such facilities." There were no changes in the year in the policies adopted by the company in order to further its objects. Page 1
Ribble Valley Sports and Recreation Trading as Roefield Leisure Report of the Trustees for the Year Ended 30 September 2024 OBJECTIVES AND ACTIVITIES Public benefit The Trustees have complied with their duty in section 17(5) of the 2011 Charities Act to have due regard to public benefit guidan published by the Charity Commission when reviewing aims and objectives of the charity in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives set. All charitable activities are focused on providing recreation and other leisure occupation in the interest of social welfare and are undertaken to further the charitable purpose for public benefit. The following are examples of schemes that are in place which benefit the public: The Freedom membership, which allows a 400/0 discount on the full fitness membership to those on benefits (income support, job seekers, housing, disability, child support) and students. This membership has been re-marketed in partnership with Ribble Valley Borough Council. The charity manages the Ribble Valley Health and Wellbeing Partnership. The has taken over the Ribble Valley 'Up and Active, scheme. replacing it with the 'Lets Live Life, scheme. The scheme encourages a healthy lifestyle, by putting on specialist classes which are available at a 60 % discounted price. Classes include seated exercise, circuits, stretch, meditation, aerobics, tone. Tai Chi, fitness come dancing and sessions for GP referrals such as supervised gym. 'Lets Live Life scheme. also runs the 'Rural roadshow, this puts on aerobics classes in local village halls and is currently run from Rimmington, Hurst green, Longridge, Sabden and many more, The Ribble Valley Health and Wellbeing Partnership now has a children section, This department is now in its 5th year of running the Holiday Activities Fund (HAF), which provides eligible children with free holiday club provision in easter, summer and winter holidays. This now runs in the partnership along with the department of education and Lancashire County council. The partnership is also in its 4th year of running the Play Activities Teatime skills provision (PASTA). this is an after school club for children aged 4-8 year old with high BMI,it runs in the partnership with Lancashire County Council. A 700/0 discount to all local secondary schools on activities such as archery. gym, fitness classes, bowling. and all other centre pursuits. The centre has seen a substantial increase in partnerships with local schools. community groups and sports clubs. All 6 local secondary schools use the centre twi a week and 4 local primary schools once a week. A 25 % discount per team on sports hall hire for a local indoor crown green bowling league for both league and practice sessions. 95Q/o of the participants are over the age of 60. The centre holds a free running club, walking clubs, electric bike sessions and boot camps for local residents. providing over 260 hours. worth of free fitness provision per year. The centre works in partnership with a local charity including Ribble Valley Families Foundation, amongst others. Through the partnership, the charity is currently overseeing the Department of Education funded initiative 'Holiday Activities and Food, programme, Lancashire County Council funded. 'Play and Skills at Teatime, activities. Both initiatives support local families who need help with food and nutrition, enriching activities and planning for school aged children. Page 2
Ribblo Valley Sports and Recreatlon Trading as Roefield Leisure Report of the Trustees for the Year Ended 30 September 2024 ACHIEVEMENT AND PERFORMANCE Fundraising activities This report relates to the 12-month period from 1 October 2023 to 30 September 2024. being the 20th year the charity has been trading as a company limited by guarantee. The charity continues to achieve its objectives by delivering commercial and non-cotnmercial fitness activities. This is the 12th full year of management by David Potts and he has continued to achieve the objectives of the charity and improved the range of discounts and facilities offered by the centre in the Ribble Valley. Over the 12 years of management, David Potts has overseen several projects which have helped improve the facilities of the centre. These include a new state of the art spinning studio, increased square meterage of the changing provisions, improved lighting for several sports in the sports hall. Ribble Valley Health and Well being partnership has been a signrficant success for the charity and has allowed the charity to go above and beyond its charitable aims. The trustees are satisfied with the job David Potts has undertaken, particularly managing the centre through these uncertain and challenging times. Income from donations and trading activities overall has increased from £888,431 to £1.030,166 with the fitness suite generating 76 % of the trading income. This continues to be commercially driven and provides income to support community focused initiatives. Non-trading income has increased from the previous period from £209,931 to £254,791. A grant from Clitheroe Town Council was reiVed in the year of £12,500 (2023- £25,000) Total resources expended has increased from £941.173 to £977.882. FINANCIAL REVIEW Principal funding sources The main SoUrS of income were from the supply of commercial and non-commercial fitness activities. Grant funding was accessed through the 'HAF' programme and partnering initiatives, as well as the Ribble Valley Health and Wellbeing Partnership. These sources of income enable the centre to operate effectively and to ensure that the centre is maintained to continue providing facililies to further its objectives. Reserves policy The Trustees have examined the charitls requirements for reserves by considering the main risks to the organisation. The Trustees are working towards a position whereby the cash and bank balances held by the charity should be two to three months of the annual expenditure of the charity. The total reserves at the year end are £421.091 . The unrestricted funds at the year end are £67,331, and is used for general fund raising activities, and running costs of the centre. The restricted fijnds at the year end are £353.760, and is used for activities in relation to the restricted income. Golng concern The trustees consider that there are no material uncertainties about the charities, ability to continue as a going concern. The board considers the current cost of living crisis as the current challenge and are working with the Centre Manager on how the charity can support the local community whilst being fully operational. The board are hopeful given the future plans detailed below that we will see a healthy position in 2026. Page 3
Ribble Valley Sports and Recreation Trading as Roefield Lelsure Report of the Trustees for the Year Ended 30 September 2024 FUTURE PLANS Future plans include.. The centre does not have any future improvements planned, however the two improvements which have been .implemented in the year to 30 September 2024 and 30 September 2023 are expected to bring higher membership numbers and therefore an increase in reserves. In 2023, new fitness equipment and a change to the layout of the fitness room was finalised. This investment will help the centre increase fitness income and membership numbers. In 2024, the charity received funding from the Government 'levelling up, fund to change the function of the climbing wall into a state-of-the-art spin room. This has allowed for more spinning classes and has helped improve fitness income. It has also allowed for growth within sports hall income as spinning classes will no longer be taking place in the hall. Both of these improvements have resulted in an increase in income in the year to 30 September 2024 and also the current year. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust. and constitutes a limited company. limited by guarantee, as defined by the Companies Act 2006. Recruitment and appointment of new trustees The Company has a Board of TrusteeslDirectors comprising of individual members of the Charity plus the prescribed nominees in accordance with the provisions of its Articles. Membership of the Board comprises elected individual members together with the following nominated members.. two persons nominated by Ribble Valley Borough Council,. one person nominated by Clitheroe Town Council" - five persons nominated by the corporate sports and recreational users Group,. ten individual persons under article 2,. Organisational structure The company is managed by its board of trusleesldirectors, consisting of not less than 2 members or more than 19. The board meets 4 times a year. Decision making The board of trusteesldirectors are responsible for the strategic decision making and work with the centre manager to monitor its progression of the strategic plan. The responsibility for the day to day operations and general running of the charity is that of the ntre manager. Induction and training of new trustees As part of their induction programme new trustees are made aware of their responsibilities outlined in the statement of trustees, responsibilities. This induction includes an introduction to the objectives, scope and policies of Ribble Valley Sports and Recreation, presentation of the Memorandum and Articles of Association and referral to Charity Commission information on trustee responsibilities. Key managemont remuneratlon The board of trusteesldirectors are responsible for setting the remuneration package for the key management personnel. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04212946 (England and Wales) Page 4
Ribble Valley Sports and Recreation Tradlng as Roefleld Lelsure Rèport of thè Trusteès for the Year Ended 30 September 2024 Registered Charity number 1090921 Registered office Edisford Road Clitheroe Lancashire BB7 3LA Trustees B Meadows (resigned 1.4.24) M E Sutcliffe H Douglas A G Gornall T Marklew l Brown S M O'Rourke M Graveston Company Secretary T Marklew Auditors Bennett Kirkhope Smith Ltd Chartered Certified Accountants and Statutory Auditors Suites 5 & 6 The Printworks Hey Road Barrow Clitheroe Lancashire BB7 gWB Bankers National Westminster Bank plc York Street Clitheroe Lancashire BB7 2DN Sollcitors Woodcocks West View Princess Street Haslingden Rossendale Lancashire BB4 6NW Centre manager David Potts. the centre manager, is responsible for the day to day management of the charity. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of Ribble Valley Sports and Recreation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)- Page 5
Ribble Valley Sports and Recreation Tradlng as Roefield Lei8ure Report of the Trustees for the Year Ended 30 September 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stste of affairs of the charitable company and of the incoming resources and application of reSoUrs. including the income and expenditure. of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP.. make judgements and estimates that are reasonable and prudent- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure thal the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware- there is no relevant audit information of which the charitable company's auditors are unaware., and the trustees have laken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. The trustees are required to prepare accounts for each financial year which give a true and fair view of the state of affairs of the company as at the end of the financial year and of the surplus or deficit of the company for that year. In preparing those accounts the trustees are required to:_ a) select suitable accounting policies and then apply them consistently, b) make judgements and estimates that are reasonable and prudent, c) follow applicable accounting standards. subject to any material departures disclosed and explained in the accounts,. and d) prepare the financial statements on the going concern basis unless it is inappropriate to presume that this basis applies. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with all relevant legislation. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. AUDITORS The audilors, Bennett Kirkhope Smith Ltd. will be proposed for re-appointment at the forthcoming Annual General Meeting. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on . signed on its behalf by.. M E Sutcliffe- Trustee Page 6
Raport of th• Indepondgnt Auditors to the Members of Rlbble Valley Sports and Recreation Oplnlon We have audited the financial statements of Ribble Valley Sports and Recreation (the 'charitable companl) for the year ended 30 September 2024 which comprise the Statement of Financial Activities. the Balan Sheet, the Cash Flow Statement 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 (United Kingdom Generally AcpIed Accounting Practice). In our opinion the financial statements- give a true and fair view of the state of the charitable company's affairs as at 30 September 2024 and of its incoming reSoUrS and application of resources. including its income and expenditure, for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice" and have been prepared in accordan with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charilable 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 rglating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going conrn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identrfied any material unrtaInte$ relating to events or conditions that, individually or collectively. may cast significant doubt on the charitable companls 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 the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other information. The other information comprises the information included in the Annual Report. other than the financial statements and our Report of the Independent Auditors thereon. 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. In Gonnection with our audit of the financial statements. 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 audit or otherwise appears to be materially misstated. If we identrfy 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. Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 7
Report of the Independent Auditors to the Members of Ribble Valley Sports and Recreation Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been reiVed from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made" or we have not received all the information and explanations we require for our audit,. or the trustees were not entitled lo take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responsibilities of trustees As explained more fully in the Statement of Trustees. Responsibilities, the trustees (who are also the directors of the charitable company 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 stalemenls that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable companYs 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 charilable company or to cease operations, or have no realistic alternative but to do so. Page 8
Report of the Independent Auditors to the Members of Ribble Valley Sports and Recreation Our responsibilities for the audit of the financial statements Our objectives are to obtain reason8ble assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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 delect 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 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: the engagement partner ensured that the engagement team collectively had the appropriate competence. capabilities and skills to identify or recognise non-compliance with applicable laws and regulations., -we identified the laws and regulations applicable to the company through discussions with trustees and other management, and from our commercial knowledge and experience.. -we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operstions of the company, including the Companies Act 2006, taxation legislation and data protection. anti-bribery, employment and health and safety legislation., -we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.. and -identrfied laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the companvs financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by,. -making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual. suspected and alleged fraud,. and -considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we.. -performed analytical procedures to identify any unusual or unexpected relationships. -tested journal entries to identify unusual transactions., -assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias., and -investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: -agreeing financial st8tements disclosures to underlying supporting documentation., -reading the minutes of meetings of those charged with governance. nquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audit prOdureS 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.uklauditorsresponsibililies. This description forms part of our Report of the Independent Auditors. Page 9
Report of the Independent Auditors to the Members of Ribble Valley Sports and Recreation Use of our report This report is made solely to the charitable companys members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's mem bers those matters we are required to state to them in an auditors, 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 charitable companls members as a body, for our audit work, for this report. or for the opinions we have formed. Alice Mary Smith (Senior Statutory Auditor) for and on behalf of Bennetl Kirkhope Smith Ltd Chartered Certified Accountants and Statutory Auditors Suites 5 & 6 The Printworks Hey Road Barrow Clitheroe Lancashire BB7 9WB Date.. Page 10
Ribble Valley Sports and Recreation Trading as Roefield Leisure Statement of Financial ktivities (Incorporating an Income and Expenditure Account) for the Year Ended 30 September 2024 30.9.24 Total funds 30.9.23 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 41,000 41,000 25,000 Charltable actlvltles Recreation and leisure 30.537 183,254 213,791 184,931 Activities to generate funds Investment income 774.235 1.140 774,235 1.140 677,222 1,278 Total 846.912 183,254 1,030,166 888,431 EXPENDrruRE ON Raising funds 362,958 80,789 443,747 425.212 Charltable activitlOS Recreation and leisure 479,826 54,309 534,135 516.511 Total 842,784 135,098 977,882 941.723 NET INCOMEI(EXPENDITURE) Transfers between funds 4,128 5,775 48,156 (5,775) 52,284 (53,292) 22 Net movement in funds 9,903 42,381 52.284 (53,292) RECONCILIATION OF FUNDS Total funds brought forward 57,429 311,378 368,807 422,099 TOTAL FUNDS CARRIED FORWARD 67,332 353,759 421.091 368,807 The notes form part of these financial statements Page11
Rlbble Valley Sports and Recreation Trading as Roefield Leisure Balance Sheet 30 September 2024 30.9.24 Total funds 30.9.23 Total funds Unrestricted Restricted fund funds Notes FIXED ASSETS Tangible assets 15 506,183 335,821 842,004 823.225 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 16 1,127 27,916 42,368 1.127 27,916 60,307 1,332 33.682 106,666 17,939 71,411 17,939 89,350 141,680 CREDrroRS Amounts falling due within one year 18 (197,005) (197,005) (209,769) NEf CURRENT ASSETS (125,594) 17,939 (107,655) (68.089) TOTAL ASSETS LESS CURRENT LIABILITIES 380,589 353,760 734,349 755.136 CREDITORS Amounts falling due after more than one year 19 (313.258) {313,258) (386.329) NET ASSETS 67.331 353,760 421,091 368,807 FUNDS Unrestricted funds Restricted funds 22 67,331 353,760 57.429 311,378 TOTAL FUNDS 421,091 368.807 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on %.Z... W. ..2.k<....... and were signed on its behalf by". M E Sutcliffe - Trustee l Brown - Trus The notes form part of these financial statements Page 12
Ribble Valley Sports and Recreation Trading as Roefield Leisure Cash Flow Statement for the Year Endèd 30 S•pt•mb•r 2024 30.9.24 30.9.23 Notes Cash flows from operating activities Cash generated from operations Interest element of finance lease payments paid 102,699 (13,749) (5.445} (1,995) Net cash provided byl{used in) operating activities 97,254 (15,744) Cash flows from Investlng actlvltles Purchase of tangible fixed assets Sale of tangible fixed assets Interest received (64.2441 (138,390) 5.700 1.278 1,140 Net cash used in investing activities (63,104) (131.412) Cash flows from flnancing activities New loans in year Loan repayments in year Capital repayments in year Loan written off 50,000 (24,815) 92,788 (32,126) (19,883) (28,500) Net cash (used in)Iprovided by financing activities (80,509) 117,973 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the rèporting period (46,359) {29.183) 106,666 135,849 Cash and cash equivalents at the end of the reporting period 60,307 106,666 The notes form part of these financial statements Page13
Rlbble Valley Sports and Recreatlon Trading as Roefield Lelsure Notes to the Cash Flow Statomont for the Year Ended 30 September 2024 RECONCILIATION OF NET INCOMEI(EXPENDITURE} TO NET CASH FLOW FROM OPERATING ACTIVITIES 30.9.24 30.9.23 Net incomel(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for. Depreciation charges Lossl(profit} on disposal of fixed assets Interest received Interest element of hire purchase and finance lease rental payments Decreasel(increase) in stocks Decrease in debtors (Decrease)lincrease in creditors 52,284 (53,292) 44,960 505 (1,140) 5,445 205 5,766 (5,326) 25,469 (4.243) (1.278) 1,995 (1.057) 16,542 2,115 Net cash provlded byl(used In) operations 102,699 (13,749) ANALYSIS OF CHANGES IN NEf DEBT At 1.10.23 Cash flow At 30.9.24 Net cash Cash at bank and in hand 106,666 (46,359) 60.307 106,666 (46,359) 60,307 Debt Financ8 leases Debts falling due within 1 year Debts falling due after 1 year (92,7881 (41.1271 (313.424) 19.883 7,438 53,188 (72,905) (33,689) {260.236) (447,339) 80,509 (366.830) Total (340,673) 34,150 (306,523) The notes form part of these financial statements Page 14
Ribble Valley Sports and Recreation Trading as Roefield Leisure Notes to the Flnancial Statements for the Year Ended 30 September 2024 GENERAL INFORMATION The company is a public benefit entity, registered as a private company limited by guarantee and is incorporaled in England and Wales. The principal place of business and registered office address is: Roefield Leisure Centre Edisford Road Clitheroe Lancashire BB7 3LA ACCOUNTING POLICIES Basis of preparing the financial sLitements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and republic of Ireland. and the Companies Act 2006. The financial statements have been prepared in sterling (£) using the historical cost convention. Going Concern The trustees consider that there are no material uncertainties about the charities, ability to continue as a going concern. Although the balance sheet reports net current liabilities of £107,655, creditors due within one year includes £72,089 of gym income in advan which will reverse to the Statement of Financial Activities in 2025. The board considers the current cost of living crisis as the current challenge and are working with the Centre Manager on how the charity can support the local community whilst being fully operational. The board are hopeful given the future plans detailed in the trustees report that we will see a healthy position in 2025 and 2026. The trustees therefore continue to adopt the going concem basis in preparing the financial statements. Income Ail income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that Ihe income will be received and the amount can be measured reliably. Total incoming resources is the amount derived from the provision of goods and services. and stated after trade discounts, other sales taxes and net of VAT. The following specific policies are applied to particular categories of income.. Voluntary income, donations and legacies. is received by way of grants and is included in full in the Stalement of Financial Activities when re1Vable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Activities for generating funds comprises of income generated from the provision of recreation and leisure facilities and is accounted for when the provision of such goods and services have been made. Some gym income is received as an annual or fixed period membership and is apportioned to the period it relates. Page 15 continued...
Rlbble Valley Sports and Recreatlon Trading as Roefield Leisure Notes to the Financial Statements - continued for the Year Ended 30 September 2024 ACCOUNTING POLICIES - continued Income Charitable activities includes income from grants and contracts for services in relation to providing recreation and leisure facilities. Income from contracts for services is accounted for when invoiced and in line with delivery of the project. Grants, where entitlement is conditional yet the conditions are within the charity's control and there is sufficient evidence that the conditions can be met. are recognised when the charity becomes entitled to the grant. Grants are treated as restricted funds where the provider has specified how the grant should be utilised. Investment income is included when receivable. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement 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 cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Allocation and apportionment of costs It is the opinion of the trustees that all costs are directly attributed towards the cost of running the ntre. therefore all support costs have been allocated to this activity. Tanglble fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or. if held under a finance lease, over the lease term, whichever is the shorter. Improvements to leasehold property Plant and machinery Fixtures and fittings Gym equipment 5 % on cost and over the term of the lease 250/0 on reducing balance 33 % on reducing balance Straight line over 5, 10 or 15 years and over the term of the lease The charity operates from land and buildings owned by Ribble Valley Borough Council. Fixed assets are included at cost and will not be capitalised if the cost is below £100. Stocks Stocks are valued at the lower of cost and net realisable value. after making due allowance for obsolete and slow moving items. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Page 16 continued...
Ribble Valley Sports and Recreation Trading as Roefield Leisure Notes to the Financial Statements - continued for the Year Ended 30 September 2024 ACCOUNTING POLICIES - continued Fund accounting Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Hlre purchase and leaslng commltments Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term. whichever is shorter. The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capilal element of the future payments is treated as a liability. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Treatment of Irrocovarable vat Irrecoverable input vat is calculated in line with partial exemption rules. DONATIONS AND LEGACIES 30.9.24 30.9.23 Donations Clitheroe Town Council 28.500 12,500 25,000 41,000 25,000 ACTivrriES TO GENERATE FUNDS 30.9.24 30.9.23 Aerobics Vending machines and cafe income Court hire Climbing wall Gym Sauna Other income School 3,478 11,351 109,365 164 628.883 1.482 205 19,307 4,074 10.603 87.442 1.215 544.683 1,687 386 27,132 774,235 677,222 A proportion of income is received as annual or fixed period mem bership which is apportioned into the period it relates. During the year £72,089 (2023 - £71,808) was deferred to future years. Page 17 continued...
Ribble Valley Sports and Recreation Trading as Roefield Leisure Notes to the Financial Statements - contlnued for the Year Ended 30 September 2024 INVESTMENT INCOME 30.9.24 30.9.23 Deposit account interest 1.140 1,278 INCOME FROM CHARITABLE ACTIVITIES 30.9.24 30.9.23 Activity Recreation and leisure Recreation and leisure Contracts for services Grants 30,537 183.254 33.463 151,468 213,791 184,931 Grants received, included in the above, are as follows.. 30.9.24 30.9.23 Lancashire County Council (HAF and PASTA) Other 98,254 85.000 123,765 27,703 183.254 151,468 RAISING FUNDS Activities to generate funds 30.9.24 30.9.23 Staff costs Activity providers Vending machine and cafe purchases Equipment and associated repairs Other fundraising trading costs Unrecoverable VAT Allian Leisure share 232,600 89,230 10,656 22,225 30,947 23.761 34,328 230,183 97.949 7.860 25,385 23,112 18,155 22,568 443,747 425.212 Page 18 continued...
Ribble Valley Sports and Recreation Tradlng as Roefleld Lelsure Notes to the Financlal Statements - contlnued for the Year Ended 30 September 2024 CHARITABLE ACTIVITIES COSTS Support costs (see note 9) Recreation and leisure 534.135 SUPPORT COSTS General overheads Governance costs Totals Recreation and leisure 523,910 10,225 534,135 10. NEf INCOMEI(EXPENDtTURE) Net incomel{expenditure) is stated after chargingl(crediting): 30.9.24 30.9.23 Depreciation - owned assets Depreciation - assets on hire purchase contracts and finance leases (Deficit)Isurplus on disposal of fixed assets 25,075 19,885 504 18.838 6,631 {4,243) 11. AUDITORS. REMUNERATION 30.9.24 30.9.23 Fees payable to the charity's auditors for the audit of the charitls financial statements Auditors, remuneration for non audit work 3.500 6,725 4,250 6,125 12. TRUSTEES. REMUNERATION AND BENEFITS The trustees all give freely their time and expertise without any form of remuneralion or other benefit in cash or kind (2023 - £nil). Trustees. expenses There were no trustees, expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023. Page 19 continued...
Ribble Valley Sports and Recreation Tradlng as Roefleld Lelsure Notes to the Financial Statements - continued for the Year Ended 30 September 2024 13. STAFF COSTS 30.9.24 30.9.23 Wages and salaries Social security costs Other pension costs 450,600 29,919 8,284 492,216 30,178 8,306 488,803 530.700 The average monthly number of employees during the year was as follows: 30.9.24 20 10 30.9.23 19 16 Fundraising trading Support costs 30 35 Key management personnel comprise the trustees and centre manager. The total employment benefits of the key management personnel for the year to September 2024 was £62,582 (2023 £60,206). No other employees had employee benefits in excess of £60,000 (2023 - £nil). 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 25,000 25,000 Charltable activities Recreation and leisure 52,866 132,065 184.931 Activities to generate funds Investment income 677,222 1,278 677,222 1.278 Total 756.366 132,065 888,431 EXPENDITURE ON Raising funds 326,070 99.142 425.212 Charltablé activities Recreation and leisure 487,997 28,514 516,511 Total 814,067 127.656 941.723 NET INCOMEI(EXPENDITURE) (57,701) 4,409 (53,292) RECONCILIATION OF FUNDS Total funds brought forward 115,130 306,969 422,099 Page 20 continued...
Ribble Valley Sports and Recreation Trading as Roefield Leisure Notes to the Financial Statemonts - continued for the Year Ended 30 September 2024 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund funds Total funds TOTAL FUNDS CARRIED FORWARD 57,429 311,378 368,807 15. TANGIBLE FIXED ASSETS Improvements to leasehold property Fixtures and fittings Plant and machinery Gym equipment Totals COST At 1 October 2023 Additions Disposals 760.589 61,539 177.438 6.700 204,916 2,705 (24,700) 1.149,643 64.244 {34,717) (8,980) {1,037) At 30 September 2024 822,128 168,458 5,663 182,921 1.179.170 DEPRECIATION At 1 October 2023 Charge for year Eliminated on disposal 90,841 12,712 156,666 5,195 (8,640) 5,444 414 (872) 73,467 26,639 (24,700) 326,418 44.960 (34.212) At 30 September 2024 103.553 153.221 4,986 75.406 337.166 NET BOOK VALUE At 30 September 2024 718,575 15,237 677 107,515 842,004 At 30 September 2023 669,748 20,772 1,256 131,449 823,225 Fixed assets are included at cost. There are no un-capitalised fixed assets. Fixed assets, included in the above, which are held under finance leases are as follows: Gym equipment COST At 1 October 2023 and 30 September 2024 99.417 DEPRECIATION At 1 October 2023 Charge for year 6.631 19.885 At 30 September 2024 26,516 NET BOOK VALUE At 30 September 2024 72.901 AI 30 September 2023 92.786 Page 21 continued...
Ribble Valley Sports and Recreation Trading a5 Roefield Leisure Notes to the Financial Statements - continued for the Year Ended 30 September 2024 16. STOCKS 30.9.24 30.9.23 Stock 1,127 1,332 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.9.24 30.9.23 Trade debtors Other debtors VAT Accrued income Prepayments 1,173 17,447 5,900 14,463 1,095 4,014 8.210 5,812 3.484 27,916 33,682 18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.9.24 30.9.23 Bank loans and overdrafts (see note 20) Other loans (see note 20) Finance leases (see note 21) Trade creditors Social security and other taxes VAT Accrued expenses Income in advance 19,591 14,098 19,883 26,194 8,149 76 36.925 72,089 18,581 22,546 19,883 41,042 7,839 28.070 71,808 197,005 209,769 19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 30.9.24 30.9.23 Bank loans (see note 20) Other loans (see note 20) Finan leases (see note 21) 39,720 220,516 53,022 59,311 254.113 72.905 313,258 386.329 Page 22 continued...
Ribble Valley Sports and Recreation Trading as Roefield Leisure Not6s to th• Financial Statements - continued for the Year Ended 30 September 2024 20. LOANS An analysis of the maturity of loans is given below.. 30.9.24 30.9.23 Amounts falling due within one year on demand: Natwest Bounce Back loan Natwest Business Loan RVBC loan Bowland Trust loan 10.268 9,323 14,098 10.015 8.566 13,546 9,000 33,689 41,127 Amounts falling between one and two years: Natwest Bounce Back loan Natwest Business Loan RVBC loan Bowland Trust loan 9,640 10,147 14,673 19,908 9,323 14,098 9,000 34,460 52,329 Amounts falling due belween two and five years: Natwest Business Loan RVBC loan Bowland Trust loan 19,933 47,706 30.080 45,837 10.500 67.639 86,417 Amounts falling due in more than five years: Repayable by instalments.. RVBC loan 158,137 174.678 The loan terms are as follows: Bowland Trust loan - This loan has been written off by the loan provider and the balance of £28.500 has been transferred to donations received. RVBC loan - This loan has an interest rate of 4.036/0 pla and is payable monthly. It was due to be paid twice a year but was laler negotiated to be paid monthly. Due to the pandemic, an 18 month repayment holiday was agreed with RVBC but this ended in October 2021 and monthly repayments have been made since.. This loan is now due to be repaid by 30 September 2037 (previously March 2036). Natwest Bounce Back Loan - This loan has an interest rate of 2.50/0 pla and is payable monthly. The loan is guaranteed from the UK Government under the Bounce Back Loan Scheme. and is due to be repaid by August 2026. Natwest Small Business Loan _ This loan has an interest rate of 8.50/0 pla and is payable monthly. The loan was used to fund part of the investment in the new gym equipment. All loan repayments due in the year have been met. Page 23 continued...
Ribble Valley Sports and Recreation Trading as Roefield Leisure Notes to the Financial Statements - continued for the Year Ended 30 September 2024 21. LEASING AGREEMENTS Minimum lease payments fall due as follows: Finance leases 30.9.24 30.9.23 Gross obligations repayable: Within one year Between one and five years 25,328 67,541 25,328 92,869 92,869 118,197 Finance charges repayable: Within one year Beeen one and five years 5,445 14,519 5,445 19,964 19,964 25,409 Net obligations repayable.. Within one year Between one and five years 19,883 53.022 19,883 72,905 72,905 g2,788 NOn-CanlIable operating leases 30.9.24 30.9.23 Within one year Between one and five years 3,426 9,627 2,360 7,990 13,053 10,350 Page 24 continued...
Ribble Valley Sports and Recreation Trading as Roefield Leisure Notes to the Flnancial Statements - contlnued for the Year Ended 30 September 2024 22. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 1.10.23 At 30.9.24 Unrestricted funds General fund 57,429 4,127 5,775 67.331 Restricted funds 2015 Refurbishment 2018 Facility improvements Holiday Activities & Food Programme {HAF) Play and Skills at Teatime Activities Programme (PASTA) Purchase of electric bikes Creation of a new spinning room 218,328 64.340 (3,335) (1.814) 214.993 62.526 16.041 (314) 1,455 17,182 4,787 7,882 (4,682) 652 (7,882) 757 58,302 58,302 311.378 48,157 (5.775) 353,760 TOTAL FUNDS 368,807 52.284 421.091 Net movement in funds. included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 846,912 {842,785) 4.127 Restricted funds 2015 Refurbishment 2018 Facility improvements Holiday Activities & Food Programme (HAF) Play and Skills at Teatime Activities Programme (PASTA) Creation of a new spinning room (3,335) (1.814) (3,335) (1.814) 98,254 (98,568) (314) 5,000 80,000 (9,682) (21,698) (4.682) 58.302 183,254 (135,097) 48.157 TOTAL FUNDS 1,030,166 (977,882) 52,284 Page 25 continued...
Rlbble Valley Sports and Recreatlon Tradlng as Roefleld Lelsure Notes to the Financial Statements - continu for the Year Ended 30 September 2024 22. MOVEMENT IN FUNDS . continued Comparatives for movoment In funds Net movement in funds At 1.10.22 At 30.9.23 Unrestricted funds General fund 115,130 (57,701) 57,429 Restricted funds 2015 Refurbishment 2018 Facility improvements Holiday Activities & Food Programme (HAF) Play and Skills at Teatime Activities Programme {PASTA} Purchase of electric bikes 221,662 66,154 (3,334) (1,814) 218,328 64,340 15.660 381 16.041 3.493 1,294 7,882 4,787 7.882 306.969 4,409 311.378 TOTAL FUNDS 422.099 (53,292) 368,807 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrèstricted funds General fund 756,367 {814,068) (57,701) Restricted funds 2015 Refurbishment 2018 Facility improvements Holiday Activities & Food Programme (HAF) Play and Skills at Teatime Activities Programme (PASTA) Purchase of electric bikes (3,334) (1,814) (3.334) (1,814) 112,099 (111.718) 381 11,666 8,299 {10,372) (417) 1,294 7,882 132,064 {127,655) 4.409 TOTAL FUNDS 888,431 (941,723) (53.292) Page 26 continued...
Rlbble Valley Sports and Recreation Tradlng as Roefleld Lelsure Notes to the Financial Statements - ¢ontinu•d for the Year Ended 30 Septembor 2024 22. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers between funds At 1.10.22 At 30.9.24 Unrestricted funds General fund 115.130 (53,5741 5,775 67,331 Restricted funds 2015 Refurbishment 2018 Facility improvements Holiday Activities & Food Programme (HAF) Play and Skills at Teatime Activities Programme (PASTA) Purchase of electric bikes Creation of a new spinning room 221.662 66.154 (6,6691 (3,6281 214,993 62,526 15.660 67 1,455 17.182 3.493 (3,3881 7,882 58,302 652 (7,882) 757 58,302 306,969 52,566 (5,775) 353,760 TOTAL FUNDS 422.099 (1.008) 421,091 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 1,603,279 (1,656,853) (53.574) Restricted funds 2015 Refurbishment 2018 Facility improvements Holiday Aclivities & Food Programme (HAF) Play and Skills at Teatime Activities Programme (PASTA) Purchase of electric bikes Creation of a new spinning room (6,669) (3,628) (6.669) (3,628) 210,353 (210.286) 67 16,666 8,299 80,000 {20,054) {417) {21,698) (3,388) 7,882 58,302 315,318 (262,752) 52,566 TOTAL FUNDS 1,918,597 (1 ,919,605) (1,008) Restricted funds comprises of the following: Refurbishment- This grant was received for the refurbishment of the centre. It remains a restricted fund as per the grant agreement. The funds have been spent in full on fixed assets and the balance of £214.993 will be written off over the useful economic life of the asset concerned. Page 27 continued...
Ribble Valley Sports and Recreation Trading as Roefield Leisure Notes to the Flnanclal Statements - continued for the Year Ended 30 September 2024 22. MOVEMENT IN FUNDS - continued Facility improvement: This grant was received for centre improvements. It remains a restricted fund as per the grant agreement. The funds have been spent in full on fixed assets and the balance of £62,526 will be written off over the useful economic lrfe of the asset concerned. Holiday activities and food programme (HAF): This grant was received to facilitate the provision of school holiday activities and food programme for school aged children, for the year to 31 March 2025. This grant is restricted per the agreement and the grant period will cease after the 2024 Christmas school holiday. The balance of £11,182 in restricted funds has been used after the year end to fund the provision of activities and food during the 2024 Christmas school holiday. Play and skills at teatime activities {PASTA): This grant was received to facilitate the provision of after school activities to children aged 5 to 8. This grant is restricted per the agreement and the grant period will cease on 31 March 2025. The balance of £757 in restricted funds has been used after the year end to fund the provision of these activites up to the cessation of the agreement. Purchase of electric bikes: This grant was received for the purchase of electric bikes. As the grant has now been spent in full and there are no further restrictions on the grant, the assets have now been transferred to general funds. Creation of a new spinning room.. This grant was received from Ribble Valley Borough Council as part of the UK Shared Prosperity Fund for the creation of a new spinning room. It remains as a restricted fund as per the grant agreement. The grant period ends on 31 March 2025 and will be transferred to general funds. Transfers between funds Holiday Activities & Food Programme (HAF) - This transfer relates to the overspend on the grant to 31 March 2024. Play and Skills at Teatime Activities Programme (PASTA) - This transfer relates to the overspend on the grant to 31 March 2024. Purchase of electric bikes - This transfer relates to the grant which was recetved for the purchase of electric bikes. As the grant has now been spent in full and there are no further restrictions on the grant, the assets have now been transferred to general funds. 23. EMPLOYEE BENEFIT OBLIGATIONS At the year end £2,518 of pension contributions was due to be paid over to the pension provider (2023 - £2,381). Page 28 continued...
Ribble Valley Sports and Recreation Trading as Roefield Leisure Notes to the Financial Statements - contlnued for the Year Ended 30 S6ptember 2024 24. RELATED PARTY DISCLOSURES During the year the trustees paid the charity for gyrn and sessional membership at market value, and there were no amounts outstanding at the year end. 25. ULTIMATE CONTROLLING PARTY The charity is controlled by members of the board. No member is entitled to more than one vote. Page 29
Rlbble Valley Sports and Recreatlon Tradlng as Roefield Leisure Detalled Statement of Financial Activities for the Year Ended 30 September 2024 30.9.24 30.9.23 INCOME AND ENDOWMENTS Donations and legaciès Donations Clitheroe Town Council 28,500 12,500 25,000 41,000 25.000 tivities to generate funds Aerobics Vending machines and cafe income Court hire Climbing wall Gym Sauna Other income School 3.478 11.351 109.365 164 628,883 1,482 205 19.307 4.074 10.603 87.442 1.215 544.683 1.687 386 27,132 774,235 677,222 Investment income Deposit account interest 1,140 1.278 Charitsble activities Contracts for services Grants 30,537 183.254 33,463 151,468 213.791 184,931 Total incomlng resources 1.030,166 888,431 EXPENDrruRE Activities to generate funds Wages Social security Activity providers Vending machine and cafe purchases Equipment and associated repairs Other fundraising trading costs Unrecoverable VAT Alliance Leisure share 219,213 13,387 89,230 10,656 22.225 30.947 23.761 34,328 218.044 12.139 97.949 7.860 25.385 23.112 18.155 22.568 443,747 425,212 Support costs General overheads Wages Carried forward 231,387 231,387 274,172 274,172 This page does not form part of the statutory financial statements Page 30
Ribblo Valley Sports and Recreatlon Trading as Roefield Leisure Detailed Statement of Financial Activities for the Year Ended 30 September 2024 30.9.24 30.9.23 General overheads Brought forward Social security Pensions Premises costs Telephone Postage and stalionery Advertising Sundries General maintenance Training Legal and professional fees Bank charges Loan interest Bad debts Computer costs Improvements to leasehold property depreciation Plant and machinery depreciation Fixtures and fittings depreciation Gym equipment depreciation {Profit)Iloss on sale of tangible fixed assets Leasing interest 231,387 16,532 8,284 71,070 2,011 6,290 13,912 15,133 43,449 16,064 18,843 3,060 13,837 274,172 18,039 8,306 75,450 2.353 6,044 10,307 14,813 19,472 11.172 14.278 2.868 11,914 1.400 12.327 13,131 12,710 5,195 414 26,639 504 5.445 10,559 2,835 471 11,604 (4,243) 1.995 523,g10 506.136 Governance costs Auditors, remuneration Auditors. remuneration for non audit work 3.500 6,725 4,250 6,125 10,225 10,375 Total resources expended 977,882 941,723 Net incomel{expendlture) 52,284 {53.292) This page does not form part of the statutory financial statements Page 31