## ||||Page| |---|---|---|---| |Report ofthe Trustees incorporatirig|strategic report||1-8| |'Reference and administrative
details ofthe||Chaiity,|| |ite Trusteee and advisOrs|||| |Structure,
gOVernanCe
and management|||| |Objectives and activities|||| |Strategic report|||4-7| |-Achievements
and performance|||| |-Fundraising|||| |- Finan'cial
review|||4-6| |-Principal
risks and uncertainties|||| |-Future plans|||| |-. Disabled persons|||| |Statement ofTrustees'
Responsibilities|||| |Report ofthe Independent
Auditors|||9-1'I| |'Consolidated
Statement of Financial|Activities||12| |(incorporating
an Income and Expenditure||Account 8|| |Statement ofOther Comprehensive|income)||| |Consolidated
Balance Sheet|||13| |Company
Balance Sheet|||14| |Consolidated
Cash Flaw Statement|||| |Notes to the Consolidated
Cash Flow Statement|||16| |Notes to the Consolidated
Financial|Statements||17-43| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |HALO|HALO|HALO|LEISURE SERV|ICES LIMITED|ICES LIMITED|ICES LIMITED||| |---|---|---|---|---|---|---|---|---| |CONSOLIDATED|||STATEMENT|OF FINANCIAL ACTIVITIES||||| |Incor
oratin|a consolidated
Income and Ex enditure|||||Account|and|| |Statement ofOther'Com||rehenslve
Income||for the Year Ended 31December 2021||||| ||||Unrestricted|Restricted|FRS 102s.28||Total Funds|Total Funds| ||||Funds|Funds|Unrestricted||Year to|Year to| |||||||Funds|31.12,2021|31.12.2020| ||NOTE|||||||| |INCOME||||||||| |Donations
and legacies||||2,348,327|||2,348,327|2,488,821| |'||||||||| |Income from charitable
activities.||||||||| |Operation
of Leisure sites|||9,243,420||||9,243,420|7,877,660| |Income from other trading activities. '||||||||| |Commercial
trading operations,|5||180,773||||180,773|204,279| |Investment
income||||||||610| |Other income|||1,176,039||||1,176,039|| |TOTAL INCOME|||10,600,232|2,348,327|||12,948,559|10,571,370| |EXPENDITURE||||||||| |Costs ofraising funds.||||||||| |Commercial
trading
operations|5||49,447||||49,447|113,784| |Expenditure
on charitable
activities:||||||||| |Leisure activities|12||10,518,348|1,704,039|882,000||13,104,387|12,609,058| |TOTAL EXPENDITURE|||10,567,795|1,704,039|882,000||13,153,834|12,722,842| |NET (EXPENDITURE) IINCOME||||||||| |BEFORETAXATION AND|||32,437|644,288|(882,000)||(205,275}|(2,151,472)| |TRANSFERS||||||||| |TAXATION||||||||| |Taxation on trading profit||||||||| |GROSS TRANSFERS BETWEEN||||||||| |FUNDS||||||||| |NET INCOME BEFOREACTUARIAL
(LOSSES)/GAINS
UNDER FRS102|||32,437|644,288|(882,000)||(205,275)|(2,151,472)| |OTHER RECOGNISED GAINS AND||||||||| |LOSSES||||||||| |Remaasurements
on defined benefit||||||||| |pension schemes|27||||3,458,000||3,458,000|(5,666,000)| |NET INCOME
/ (EXPENDITURE)|||32,437|644,288|2,576,000||3,252,725|i7,817,472i| |FUNDS BROUGHT FORWARD|||(1,012,169)|2,434,941|(15,282,000)||(13,859,228)|(6,041,756)| |FUNDS CARRIED FORWARD|||,(979,732)|3,079,229|(12,706,000)||(10,606,503)|(13,859,228)| ## |HALO LEISURE SER|VICES LIIN TED|VICES LIIN TED|VICES LIIN TED|Registered|Registered|Charity number: 10915| |---|---|---|---|---|---|---| ||CONSOLIDATED|||BALANCE SHEET||| |||31|December 2021|||| |||||31.12.21||31.12.20| |||Notes|||F|| |FIXEDASSETS||||||| |Intangible
assets
.
Tangible assets||14
15||12,821
13702,661||30,031
14,367,970| |||||13„715,482||14,398,001| |CURRFNT ASSETS||||||| |Stocks||17||34,368||347583| |Debtors||18||503,479||733,681| |Cash at bank and in hand|||3,441,926||1|933,968| ||||3,979,773||2,702,232|| |CREDITORS||||||| |Amounts
falling due within any year||19|2,921,923||2,918,183|| |NET CURRENT LIABILITIES||||1,057,850||~215,951| |TOTAL ASSETSLESSCURRENT||||||| |I IABILITIES||||14,773,332||14,182,050| |CREDITORS||||||| |Amounts
falling due after more than||||||| |one year||20||(12,544,260)||(12,603,812)| |DEFERRED INCOINE|||||(129,575)|(155,466)| |NET ASSETS BEFORE PENSION||LIABILITY||2,099,497||1,422,772| |PENSION LIABILITY||||12,706,000||15,282,000| |FUNDS||||||| |Unrestricted
income funds||25|(13,685,732)||(16,294;169)|| |Unrestricted
designated
Restricted funds|funds|25
25|8|079 229|2,434 941|| |TOTAL FUNDS||25||(1~Q,606,503||: (1~3,859,228| |||||2,099,497||1,422,772| |ON B HALF OF THE|BOARD'|||||| |J,Curtis - Chairma||||N A|Sellar -Trustee|| |J8 Huxley - Company|Secreta@|||||| ## |HALO LEISURE|SER|VI|CES LIMIT|ED|ED|ED|R|R|egistere|d
Charity number: 1091543| |---|---|---|---|---|---|---|---|---|---|---| |||||COMPANY BALANCE|||SHEET|||| |||||31|December|2021||||| |||||||31.12.21||||31.12.20| |||||Notes|E|||||F| |FIXEDASSETS||||||||||| |Intangible assets||||14|||||8,051|17,172| |Tangible assets
'||||15|||11,642,901|||12,254,850| |Investments||||16|||||1|1| ||||||||11,650,953|||12,272,023| |CURRENT ASSETS||||||||||| |Stocks||||17|34,368|||||34,583| |Debtors||||18|617,998|||||847,977| |Cash at bank and|in hand||||3,183,103|||||1,754,776| ||||||3,835,469|||||2,637,336| |CREDITORS||||||||||| |Amounts
falling due within one year||||19|2,826,079|||||2,837,916.| |NET CURRENT LIABILITIES|||||||1,009,390|||~200,679| |TOTAL ASSETS|LESS||CURRENT|||||||| |LIABILITIES|||||||12,660,343|||12,071,444| |CREDITORS||||||||||| |Amounts
falling due after more than||||20|||(12,544,260)|||(12,603,812)| |one year||||||||||| |DEFERRED INCOME||||24||||(129,575)||(155,466)| |NET ASSETSBEFORE|||PENSION|LIABILITY||||13,492||687,834| |PENSION LIABILITY||||27|||12,706,000|||15,282,000| |FUNDS||||||||||| |Unrestricted
income funds||||25|(13,751,202)|||||(16,298,410)| |Unrestricted
designated|||tunds|25||||||| |Restricted funds||||25|1,031,710|||||328 576| |TOTAL FUNDS||||25|||(1~2,719 492|||(1~5,989,834| |||||||||13,492||~687,834| |ON BEHAL
OF THE||BOARD:||||||||| |Urtls-|an||||||N A|Sellar - Trustee||| |J8 Huxley
ompany||Secretary||||||||| ## |HALO LEISURE SERVICES LIMITED|HALO LEISURE SERVICES LIMITED|HALO LEISURE SERVICES LIMITED|||| |---|---|---|---|---|---| |CONSOLIDATED CASH|||FLOW STATEMENT||| |for'the||Year Ended 31December 2021|||| |||||Year to|Year to| |||||31.12.21|31.12.20| ||Notes|||E|E| |Cash flows from operating
activities
Cash generated
from operations||||1,950,559|297,548| |Interest paid
Interest received|||||~610| |Net cash from operatirig
activities||||1 950,559|296,938| |Cash flows from investing
activities
Purchase of intangible
fixed assets|||||(17,730)| |Purchase oftangible
fixed assets||||(3'i,547)|(88,225)| |Cash donated
to group an business
combination|||||| |Proceeds from fixed asset disposal
Interest received|||||610| |'Net cash from investing
activities||||31,647|105,345| |Cash flows from financing
activities
New finance lease agreements
in year
New bank loan|||||19,430
750,000| |Repayment
of bank loans
Hire purchase
repayments
in year
Interest element of hire purchase
and|lease payments|||(25,000)
(223,911)
~162,143|(221,695)
~160,704| |Net cash from financing
activities||||411,054|387,031| |Change
in cash and cash equivalents'In||the reporting|period|1,607,958|578,624| |Cash and cash equivalents
at the
beginning
ofthe reporting
period||||1,933,968|1,355,344| |Cash and cash equivalents
at the
end ofthe reporting
period||||3,441 926|1,933,968| ## ## |||||||Year to|Year to| |---|---|---|---|---|---|---|---| |||||||31.12,21|31.12.20| |||||||E|E| |Net movement
in funds||||||3;252,725|(7,817,472)| |Actuarial
(gains)/losses|on defined||benefit|pension schemes||(3,450,000)|5,666,000| |Interest element of hire purchase/finance||||lease payments||500,727|543,103| |Depreciation/amortisation|charges|||||713,792|771,964| |(Profit)/loss
on disposal||||||274|| |Decrease
in stocks||||||215|| |Decrease/(Increase)
in|debtors|||||230„202|(170,586)| |Increase/(Decrease)
in|creditors|||||(145,485)|399,540| |Movement
in deferred|capital grants|||||(25,891)|(2,456)| |Difference between
pension
charge,|||including||finance costs, and cash||| |contributions||||||882 000|904 000| |Net cash inflow from|operating|activities||||1,950,559|297,548| |ANALYSIS OF CASH|AND CASH||EQUIVALENTS||||| |||||||Year to|Year to| |||||||31..12.21|31.12.20| |||||||E|F| |Cash in hand and at bank||||||3,441,926|1,933,968| |Total cash and cash equivalents||||||3,441,926|1,933,968| ## ||||31.12.2020|. Cash|Non-Cash|Changes|31.12.2021| |---|---|---|---|---|---|---|---| |||||Flows|||| ||||||New Finance|Other|| ||||||Leases / Bank|non-cash|| ||||||Loans|changes|| |Cash|in hand|&|1,933,968|1,507,958|||3,441,926'| |bank|,||||||| |Debt|due within||(385,662)|25,000||(174,225)|(534,887)| |one year|||||||| |Debt|due greater||(12,603,812)|386,054||(326,502)|(12,544,260)| |than|one year||||||| ||||11,055 506|1 919,012|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Trust Ltd.|Trust Ltd.|Trust Ltd.|||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |A summary
ofthe financial|||activities undertaken|||by the Charitable||Company
is set out below:
Year, to
Year to|||| ||||||||||31,12.21
'||31.12.20| ||||||||||||P| |Incoming
resources
excluding
gift aid
Expenditure
on charitabie
activities|||||from subsidiary|||12,546,421
10,252,523
(12,881,165)
(12.345,66'I)|||| |Net (expenditure)/income
Actuarial
(losses)lgains
on|||defined benefit pension schemes|||||3|(334,744)
458,000||.(2,093,138)
~5,666 000)| |||||||||3,123,256|||(7,759;138)| |Distribution
from subsidiary.|||||||||127,084||60495| |||||||||3|260,340||~7,678,643)| |DONATIONS|AND|LEGACIES|||||||||| ||||||Unrestricted||Restricted|||Total funds|Total funds| |||||||funds||funds||Year to|Year to| |||||||31||31||31|31| |||||||December|December|||December|Decembet| |||||||2021||2021||2021|2020| |||||||E|||||F| |National
Exercise||Referral||Scheme|(see||160,810|||160,810|173,547| |note 25)
Coronavirus|Job Retention||Scheme||||1,072,361|||1,072,361|,2,315,274| |National
Leisure Recovery
Asset improvement
Grant
Other project grants|||Fund
- Pencoed||||560,741
129,860
424 565|||560,741
129,850
424,565|| |Total|||||||2 348;327|||2348,327|2,488,821| |INCOME FROM CHARITABLE ACTIVITIES|||||||||||| ||||||Unrestricted||Restricted|||Total funds|Total funds| |||||||funds||funds||Year to|Year to| |||||||31||31||31|31| |||||||December|December|||December|December| |||||||2021||2021||2021|2020| |||||||E||P.|||E| |Operation
of leisure centres
Management
fee
Government
grants
Local
Authority
Contracts
-||||COVID|19|6,747,436
1,278,952
52,987
1,164,045||||6,747,436
1,278,952
52,987
1,164,045|5,307,926
1,427,059
82,506
1,060,169| |relief|||||||||||| |Total||||||9243,420||||9,243420|7,877,660| ## ## ## |A summary
o
shown
below:|f the tradin|g
results|of the wholly o|wned
subsidi|ary
Halo L|eisure Enterp|rises
Limited
i| |---|---|---|---|---|---|---|---| |||||||Year to|Year to| |||||||31.12,21|31,12.20| |||||||F|F| |Turnover
Cost ofsales|and administration||costs (including|intra-group)|186,533
~69,447)||204,279
~123,764)| |Net profit||||||127,094|90496| |The subsidiary|company|has gift|aided its profits|to the parent|Charitable|Company.|| ## ## |INVEST|MENT INCOME||||| |---|---|---|---|---|---| |||Unrestricted|Restricted|Total funds|Total funds| |||funds|funds|Year to|Year to| |||31|31|31|31| |||December|December|December|December| |||2021|2021|2021|2020| ||||F||F.| |Interest|received||||610| |Total|||||610| |OTHER INCOME|||||| |||Unrestricted|Restricted|Total funds|Total funds| |||funds|funds|Year to|Year to| |||31|31|31|31| |||December|December|December|December| |||2021|2021|2021|2020| |||E|F|E|| |Insurance|claim|1 176,039||1 176039|| |Total||1,176,039||1,176,039|| ## ## ## ## ## |KEY MANAGEMENT
PERS|ONNEL||| |---|---|---|---| |||Year to|Year to| |||31.12.21|31,12.20| ||||F| |Wages and salaries
Social security costs
Other pension costs
Redundancy
and severance|payments|5,490,069
'380,198
1,129,15Q
21,'270|6,212,833
435,269
1,209,238
147886| |||7,020,687|8,005,326| |The average|monthly|number ofemployees
during
the perio|d was as follows|| |---|---|---|---|---| ||||Year to|Year to| ||||31.12.21|31.12.20| |Leisure Centres|||406|537| |Support
Management|and administration||46
4|47
4| ||||456|588| |.|The average|monthly|full-time|equivalent|number ofemployees|during|the period was as follows:
Year to
Year to|the period was as follows:
Year to
Year to| |---|---|---|---|---|---|---|---|---| ||||||||31.12.21|31.12.20| ||Leisure Centres||||||189|214| ||Support
Management|and administration|||||40
4|4Q
4| ||||||||233|'258| ## ## ## ## ## ## |The net income is stated after ch|arging:||||||| |---|---|---|---|---|---|---|---| |||||||Year to|Year to| |||||||31.12.21|31.12.20| |||||||E|E| |Equipment
repairs, maintenance
and lease
Depreciation
-owned assets
Depreciation
—assets on hire purchase
contracts or
Computer
software
amortisation
Auditors
remuneration||||finance leases||88,979
314,247
382,335
17,210
23,000|72,458
319,86'5
' 432,891
19,208
22,673| |Audit oftrading
subSidiary
Non aUdit work —statutory
accounts preparation||||||6,072
5775|4,738
4,120| |INTEREST PAYABLE AND SIMILAR||CHARGES|||||| |||||||Year to|Year.to| |||||||31.12.21|31.12,20| ||||||||E| |Finance lease and hire purchase|interest|||||500727|543 103| |||||||500,727|543,103| |RESOURCES EXPENDED ON CHARITABLE ACTIVITIES|||||||| ||||||Support|Total for|Total for| |||Direct|costs|Staff costs|costs|Year to|Year to| |||||||31,12,21|31.12.20| ||||E|E|E|E|E| |Leisure centres||2439158||7014702|3650527 13104387 12609058||| |Major components
ofSupport|Costs||||||| |||||||Year to|Year to| |||||||31.12.21,|31.12,20| |||||||E|E| |Premises Costs|||||1,3038052||508,689| |Advertising
5 Promotions
Office Aclministration||||||24,428
213,115|35,708
204,838| |Finance and Compliance
Other Finance Costs re FRS 102||||||5870703
224,ooo|624,634
672,00Q| |Irrecoverable
VAT||||||527,357|329,585| |Equipment
Repairs, Maintenance
Other Costs|and|Lease||||88,979
658,893|72,458
548,406| |Governance
Costs||||||23,000|26,793| ||||||3,650,527||3,023,111 .| ## ||
for the Year Ended 31 Decembe|
for the Year Ended 31 Decembe|
for the Year Ended 31 Decembe|r 2021||| |---|---|---|---|---|---|---| |13.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|||ACTIVITIES||| ||||Unrestricted||Restricted|Total
funds| |||||fund|funds|| |||||||F| ||INCOME FROM|||||| ||Donations
and legacies||||2,488,821|2,488,821| ||Iricome from charitable
activities|||||| ||Operation
of leisure and recreation.||sites|7,817,943|59,717|7,877,660| ||income from other trading activities
Commercial
trading, operations|||204,279||204,279| ||Investment
income|||610||610| ||Total income|||8,022,832|2,548,538|10,571,370| ||EXPENDITURE ON|||||| ||Cost ofraising funds
Commercial
trading
operations|||113,784||113,784| ||Expenditure
on charitable
activities
Operation
of leisure and recreation||sites|10,162,927|2,446,131|12,609,058| ||Total expenditure|||10,276,711|2,446,131|12,722,842| ||NET INCOME|||(2,253,879)|102,407|(2,151,472)| ||Transfers
between
funds|||||| ||Other recognised'gains/(losses)
Actuarial
gains/losses
on defined|benefit schemes||(5,666,000)|-|(5,666,000)| ||Net movement
In funds|||(7,919,879)|102,407|(7,817,472)| ||RECONCILIATION
OF FUNDS|||||| ||Total funds brought
forward|||(8,3748290)|2,332,534|(6,041,756)| ||TOTAL FUNDS CARRIED FORWARD|||(16,294,189)|2,434 941|(13;859,228)| ## |14.|INTANGIBLE FIXEDASSETS||| |---|---|---|---| ||Group||| |||Computer|| |||software|| ||COST||| ||At 1 January'2021|114,223|| ||Additions||| ||At 31 December 2021|114,223|| ||AMORTISATION||| ||At 1 January
202'I|84,192|| ||Amortisation
for year|17,210|| ||At 31 December 2021|101,2I02|| ||NET BOOK VALUE||| ||At 31 December 2021|12621|| ||At 31 December 2020|30,631|| ||Company||| |||Computer|| |||software|| ||COST||| ||At 1 January 2021|27,363|| ||Additions||| ||At 31 December 2021|27,363|| ||AMORTISATION||| ||At 1 January. 2023|10,191|| ||Amortisation
for year|9,121|| ||At 31 December 2021|19,312|| ||NET BOOK VALUE||| ||At 31 December, 2021|6,661|| ||At 31 December 2020|17172.|,| |||||VI
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Z| ## ## ||Subsidiary||||||||| |---|---|---|---|---|---|---|---|---|---| ||Halo Leisure Enterprises|||Limited|||||| ||Nature ofbusiness:|Consultancy|||and asset management||||| ||Class ofshares||||||holding||| ||Ordinary||||||100.00|31.12.21|31.12.20
E'| ||Aggregate
capital and reserves|||||||1|1,| ||Subsidiary||||||||| ||Severn Centre Trust Ltd||||||||| ||Nature ofbusiness:|Provision of|||leisure facilities||||| ||Class ofshares;||||||holding||| ||Ordinary||||||100.00|31.12.2]|31,1220| ||Aggregate
funds|||||||2,112,989|2,110,604| |17,|STOCKS|||||Group
31.12.21
31.12,20||Company
31.12.21
31.12.20
'|| |||||||F|||E| ||Stocks|||||34,368|34,583|34,368|34,583| |18.|DEBTORS: AMOUNTS||FALLING DUE|||WITHIN ONE YEAR|||| |||||||31.12.21|Group
31.12.20|Company'
31,12.21
31.12,20|| |||||||E|F|E|| ||Trade debtors
Amounts
owed by group undertakings
Other debtors
Prepayments
and accrued income|||||169,816
22,633
311,030|105,172
1,444
627,065|176,600
131,392
22,633
287,373|52,590
181,057
1,444
612,886| |||||||503,479|733,681|617,998|847,977| ## ## ## ## ||||||Group|Group|Company|Company|| |---|---|---|---|---|---|---|---|---|---| ||||||31,12.21|31,12.20|31,12.21||31,12.20| |Finance|leases &|hire purchase||(note 21)|384,887|360,662|384,887||360,662| |Trade creditors|||||972,970|477,120|941,147||463,458| |Other creditors|||||80,857|159,357|80,308||158,808| |Other Taxes and PAYE|||||280,374|506,662|253,504||468,712| |Accruals|||||800,618|888,702|773,149||870,120| |Deferred|income||||252,317|500,680|243,084||491,155| |Bank loans|||||150,000|25,000|150,000||25000| ||||||2,921,923|2 918 183|2,826,079|2|837915| ||||||Group||Company||| |Deferred|income (excluding||capital grants)||31.12.21|31.12.20|31.12.21||31.12.20| ||||||F||||| |Deferred|income at 1 January 2021||||500,680|838,855|491,155||830,423| |Resources deferred
Amounts
released||in the year
from previous||periods|252,317
(500,680)|500,680
~838,855|243,084
(491,155)|491',155
~830,423|| |Deferred|income at 31 December|||2021|252,317|50D,680|243,D84||491,155| ## ## |||||group||Company|Company| |---|---|---|---|---|---|---|---| ||||31.12.21||31.12,20|31,12.21|81,12,20| ||||F||||F| |Finance leases & hire pur(;hase||(note 21)|11,969,260||11,878,812|118969,260|11,878,812| |Bank loans|||575,000||725,000|575 000|725,DDD| ||||12,544,260||12,6D3,812|12,544,260|12,603,812| |FINANCE LEASES AND HIRE||PURCHASE|||||| |An analysis|ofthe maturity offinance lease||and hire purchase||agreements|ls given below;|| |||||Group||Company|| ||||31.12.21||31.12.20|31.12,21|31,12,20| ||||||F|F|| |Due in less than
1 year|||384,887||360,662|384,887|360,662| |Due between|1-2years||331,150||382,919|331,150|382,919| |Due between|2-5 years||973,648||1,043,022|973,648|1,043,022| |Due in more|than 5years||10,664,462|10,452,871||10,664,462|10,452,871| ||||12,354,147|12,239,474||12,354,147|12,239,474| ## ## ## ## ||Total future minimum
lease paymen|ts
under non-cancell|able
|operating
lea|ses are as follows|:| |---|---|---|---|---|---|---| ||Group||||Other|| |||Land and|||operating|| ||||buildings||leases|| |||31,12.21
F,||31..'I 2.20|31,12.21|31.12.20
F| ||Payments
falling
due'.
Within one year
Within one to two years
Within two to five years||||9,339
7,872
22,961|| ||||||40,172|| ||Company||||Other|| |||Land and|||operating|| ||||buildings||leases|| |||31.12.21||31.12.20|31.12.21|31.12.20| |||F||F||F| ||Payments
falling due:
Within one year
Within one to two years
Within two to five years||||7,872
7,872
22,961|| ||||||36705|| |24.|DEFERRED INCOME|Group
31,12.21,31..12.20
E|||Company
31.12.21
31,12,20
F|| ||Deferred capital grants|129,575|.|155,466|129,575|155,466| ## ## |RECONCILIATION
O|F M|OVE|MENTS
IN FUNDS|||||| |---|---|---|---|---|---|---|---|---| |Group||||||||| |||||Unrestricted|||Restricted|| ||||||Funds||Funds|Totals| ||||||F|||| |At 1 January 2021||||(16,294,169)|||2,434,941|(13,859,228), .| |incoming
resources||||10,600,232|||2,348,327|12,948,559| |Outgoing
resources||||(11,449,795)||(1,704,039)||('I3,153,834)| |Actuarial
gains on defined||benefit schemes||3,458,0OD||||3,458,000| |At 31 December 2021||||(1~3,665,732|||3,079 229|(1~0,606,503| |Company||||||||| |||||Unrestricted|||Restricted|| ||||||Funds||Funds|Totals| ||||||F|||F| |At 1 January 2021||||(16,298,410)|||328,576|(15,969,834)| |Incoming
resources||||'I0,324,887||2,337,327||12,662,214| |Outgoing
resources||||,(11,235,679)||(1,634,193)||(12,869,872)| |Actuarial
gains on defined||benefit schemes||3,458,000||||3,458,000| |At 31 December 2021||||(~13,751,202|||1,031710|(1~2,719,492| |Restricted Funds —Group||||||||| ||||At1|||||At 31| ||||January|Incoming|Outgoing|||December| ||||2021|Resources|Resour'ces||Transfers|2021| ||||||||E|| |NERS scheme|||328,576|160,81.0|(12,091)|||477,295| |Severn Centre Buildillg. Fund|||2,106,365||(58,846)|||2,047,519| |Coronavirus
Job retention|scheme||(CJRS)|1,072,361|(1,072,361)|||| |National
Leisure Recovery|Fund (NLRF)|||56o,741|(560,741)|||| |Asset improvement
gtant.|Pencoed|||129,850||||129,850| |Other restricted project grants||||424,565||||424,565| |Total|||2,434,941|2,348',327|(1(7041039)|||3,079,229| |Restricted
Funds —Company||||||||| ||||At1|||||At 31| ||||January|Incoming|Outgoing|||December| ||||2021|Resources|Resources||Transfers|2021| ||||F|||f||F| |NERS scheme|||328,576|160,810|(12,091)|||477,295| |Coronavirus
Job retention|scheme (CJRS)|||1,072,381|(1,072,361)|||| |National
Leisure Recovery|Fur(d (NLRF)|||549,741|(549,741)|||| |Asset Improvement
grant - Pencoed|||'|129,850||||129,850| |Other restricted
project grants||||424,565||||424,565| |Total|||328,576|2,337,327|(1,634,193)|||1,031,710| ## ## ## ## |Unrestricted
Funds —Group|||||| |---|---|---|---|---|---| ||||||At 31| ||At 1 January|incoming|Outgoing|Gains, losses,|Decembel| ||2021|Resources|Resources|8 transfers|2021| |||f||E|E| |Designetert
funds:|||||| |Bridgend
County BC|||||| |Brldgend
County BC.utilities|||||| |Total designated|||||| |Unrestricted
pension|(15,282,000)||(882,000)|3,458,000|(12,706,000)| |Unrestricted
general|(1.,012,169)|10,600,232|(10,567,795)|-|(979,732)| |Total unrestricted|(16,294,169|10,600,232|(11,449,795)|3,458,000|(13,685,732| |Unrestricted
Funds - Company'|||||| ||||||At 31| ||At 1 January|Incoming|Outgoing|Gains, losses,|December| ||2021|Resources|Resources|8 transfers|2021| |Designated
funds. '|||||| |Bridgend
County BC|||||| |Bridgend
County BC - utilities|||||| |Total designated|||||| |Unrestricted
pension|(15,282,000)||(882,000)|3,458,000|(12,706,000)| |Unrestricted
general|(1,016,410)|10,324,887|(10,353,679)|-|(1,045,202)| |Total unrestricted|(16,298,410|10,324,887|(11,235,679)|3,458,000|(13,761,202)| ## ## ## ## |general
unrestricted
fu|nds|. The|re were|no transfer|s
in the|current year.|||| |---|---|---|---|---|---|---|---|---|---| |Unrestricted
en eral|||||||||| |The unrestricted
general||funds|ofthe|Charitable|Company|were
in deficit at 31 December 2021. The|||| |Charitable
Company's|budgets||have been set for||future years with a view|||to reversing|this position.| |COMPARATIVE YEAR MOVEMENTS||||IN FUNDS|||||| |Group|||||||||| |||||||Unrestricted||Restricted|| |||||||Funds|.|Funds|Totals| |At 1 January 2020||||||(8,374,290)||2,332,534|'(6,041,756)| |Incoming
resources||||||8,022,832||2,548,538|10,571,370| |Outgoing
resources|||||(10;276,711)|||(2,446,131)|(12,722,842)| |Actuarial
gains on defined||benefit schemes||||(5,666,000)|||(6,888,66OI| |At 31 December 2020|||||(~16,294,169|||2434 941|(1~3869,228| |Company|||||||||| |||||||Unrestricted||Restricted|| |||||||Funds'||Funds|Totals| |||||||F||E|| |At 1 January 2020||||||(8,378,020)||167,324|(8,210,696)| |Incoming resources||||||7,757,250||2,548,538|10,305,788| |Outgoing
resources|||||(10,011,640)|||(2,387,286)|(12,398,926)| |Actuarial
gains on defined||benefit schemes||||(5,666,000)||-|(5,666,000)| |At 31 December 2020|||||(1~6,298,410|||328,676|(1~5,969,834| ## ## ## ## |Restricted|Funds|—Group||||||| |---|---|---|---|---|---|---|---|---| |||||||||At 31| |||At|1 January||Incoming|Outgoing||December| ||||2020||Resources|Resburoes|Transfers|2020| ||||E||E|E|E|E| |NERS scheme|||167,324||173,547|(12,295)||328,576| |Severn Centre Building||Fund|2,165,210|||(58,845)||2,106,365| |Job retention|scheme||||2,315,274|(2,315,274)||| |Employment|allowance||||4,000|(4,000)||| |SIVIP reclaimed|||||55,7'I7|55,717)||| |Total|||2,332,534||2,548,538|(2)446,131)||2,434,941| |Restricted|Funds —Company|||||||| |||||||||At 31| |||,At|1 January||Incoming|Outgoing||December| ||||2020|.|Resources|ReSources|Transfers|2020| ||||E||E|E|E|E| |NERS scheme|||167,324||173,547|(12,295)||328,576| |Job retention|scheme||||2,315,274|(2,315,274)||| |Employment|allowance||||4,000|(4,000)||| |SMP reclaimed|||||55,717|(55,717)||| |Total|||167,324||2,548,538|(2,387,286)||328,576| |Unrestricted
Funds||—Group||||||| |||||||||At 31| |||At|1 January||Incoming|Outgoing|Gains, losses,|December| ||||2020||Resources|Resources|5transfers|2020| ||||E|||F|E|E| |Designated|funds:|||||||| |Bridgend
County BG|||595,744|||(1'03,271)|(492,473)|| |Bridgend
County BC -'utilities|||15,043||||15,043)|| |Total designated|||610,787|||(103,271}|(507;516)|| |Unrestricted
Unrestricted|pension
general|(8,712,000)
(273,077)|||8,022,832|(904,000)
(5,666,000)
(9,289,440),507,516||(15,282,000)
(1,012,169)| |Total unrestricted||(8,374,290)|||8,022,832|(10,276,711)|(5,666,000)|(18,294,169| |Unrestricted
Funds||- Company||||||| |||||||||.At 31| |||At|1January||Incoming|Outgoing|Gains, losses,|December| ||||2020||Resources|Resources|8 transfers|2020| ||||E||E|F|F|E| |Designated|funds:|||||||| |Bridgend
County BC|||595,744|||(103,271)|(492,473)|| |Bridgend
County BC -||utilities|15,043||||15,043)
'|| |Total designated|||610,787|||(103,271)|(507,516)|| |Unrestricted|pension|(8(712,000)||||(904,000)|(5,666,000)|(15,282,000)| |Unrestricted|general||(276,807)||7,757,250|(9,004,369)|507,516|(1,016,410)| |Total unrestricted||8,378,020)|||7,757,250|10,011,640)|(5,666,000)|(16,298,410| ## ## ||||Defined|benefit| |---|---|---|---|---| ||||penSion plans|| ||||3,1.12.21|31.12,20| |Present value offunded|obligations||(42,588,000)|(41,627,000)| |Fair value of plan assets|||29,882,000|26 345 DDO| ||||(12706 000)|(15282 000)| |Present value of unfunded||obligations||| |Deficit|||(1~2,706,000|('I~5,282 000| |Changes|in t|he p|res|ent value ofthe defined
benefit ob|ligation
are as follows;|| |---|---|---|---|---|---|---| ||||||Defined|benefit| ||||||pension|plans| ||||||31.12.21|31.12.20| ||||||P.|E| |Opening|defined||benefit obligation||41,627,000|32,768,000| |Current|service cost||||972,000|877,000| |Change|in financial|||assumptions|1,189,000|| |Past service||cost|||2,600|189,000| |Contributions||by'|scheme participants||121,000|139,000| |Interest|cost||||605,000|672,000| |Remeasurement|||(gains) / losses||(1,583,000)|7,306,000| |Curtailments||||||| |Benefits|paid||||~345000|~324,000| ||||||42,588,000|41,627,000| ## ## |Changes
in th|e|fair value|ofscheme assets are|as follows;||| |---|---|---|---|---|---|---| ||||||Defined|benefit| ||||||pension|plans| ||||||31,12.21|31.12.20| |Opening
fair value. ofscheme assets|||||26,345,000|24,056,000| |Interest on plan||assets|||381,000|496,000| |Contributions
Contributions|by, employer
by scheme||participants||32'i,ppp
121,000|346,000
139,000| |Remeasurement||gains
/ (losses)|||3,064,000|1,640,000| |Administration
Benefits paid||expenses|||(5,000)
(6,000)
~345 000 ~324,000|| ||||||29,882,000|26,345,000| |The arr)ounts|recognised||in other comprehensive|income are as follows:|31,12.21|31.12.20| |||||||F| |Remeasurement||gains/(losses)|||3,458,000|~5,666,000)| |Cumulative
amount ofactUarial||||||| |remeasurement||losses|||(6,478,000)|L9,938,000)| ||The major ca|tegor|ies ofschem|e assets as a percentage
oftotal|scheme ass|ets are as fo|ets are as fo|llows| |---|---|---|---|---|---|---|---|---| |||||||Defined||benefit| |||||||pension||plans| |||||||31,12.21||31.12.20| |'|Equities
Government|bonds||||67.33%
3.87%||64.27%
553%| ||Cash/liquidity
Other bonds|||||0.870/'
11.23%||0.60%
13.34%| ||Property
Other|||||4,97%
11.73%||5.63%
10.63%| |||||||100 00'/||100.00%| ||Principal
actuarial||assumptions|at the balance sheet date:||||| |||||||31,12.21||31,12.20| ||Discount rate||||1,80|—1..90%|1,40 —1.50%|| ||Rate of Inflation|||||73%||230%| ||Future salary increases
Future pension incieases||||385
2,60|4 300/'
—2.9P%|3.55 —3.80%
2.3P —2.40%|| ## |The following
table sets|out|the sensitivity|analysis|analysis|produced
by the|produced
by the|produced
by the|actuary reporting|in|respect ofthe|| |---|---|---|---|---|---|---|---|---|---|---|---| |Worcestershire
County|Council Pension
Central||Fund:
+0.1%discount||||+0.1%inflation||1|year increase|| |||||||rate||||in life|| |||||||||||expectancy|| |||||||||F||E|| |Liabilities||24,201,000|||23,626,000|||24,790,000||24,951,000|| |Assets||(12,789,000)||(12,789,000)||||(12,789,000)||(12,789,000)|| |Deficit/(surplus)||11,412,000|||10,837,000|||12,001,000||12,162,000|| |Projected service||476,000||||463,000||490,000||493,000|| |cost for next year|||||||||||| |Projected interest||203,000||||2Q3,000||213,000||216,000|| |cost for next year|||||||||||| |The following
table sets|out|the sensitivity|analysis||produced
by the|||actuary
reporting|in|respect ofthe|| |Rhondda
Cynon Taf Count'y||Borough Council||Pension||Fund',||||'|| |||||||+0,1%p.a.||Base figure||-0.1% p.a.|| |Adjustment
to discount|rate||||||||||| |Present value oftotal obligation
(8)||||||16,163,000||'I6,612,000||17,077,000|| |%change
in present value||of total obligation||||-2.7%||||2 8o(o|| |Projected service cost
Approximate
%change|(E)
in|projected service||cost||429,000
-3.4%||444,000||460,000
35%|| |Adj ustment
to salary increase rate|||||||||||| |Present value oftotal obligation
(2)
%change
in present value oftotal obligation||||||16,662/000
0 3oyo||16,612,000||16,562,000
-0.3'/o|| |Projected service cost
Approximate
%change|(f)
in|projected service||cost||444,000
00||444,000||444,000
0 Q%|| |Adjustment
to pension|increase rate||||||||||| |Present value oftotal obligation
(8)
%change
iri present
value
'of total obligation||||||17,027,000
25||16,612,000||16,213,000
2|| |.Projected service cost
Approximate
%change|(8)
in|projected service||cost||460,000
3,5%||'
444,000||429,000
34%|| |||||||-1|year|Base figure||+1 year|| |Adjustment
to mortality age rating assumption
Present value oftotal obligation
(E)
change
in present value of total obligation||||||17,210;000
36%||16,612,000||16,014,000
36%|| |Projected service cost
Approximate
%change|(F)
in|projected service||cost||462,000
0%||444,000||427,000
-3.9%|| |The following
table sets out||the sensitivity|analysis||produced
by the actuary reporting||||in|respect ofthe|| |Shropshire
County Pension||Fund:|||||||||| |||Ceritral||+0.1%discount|||+0.1%inflation||1|year increase|| |||||||'rate||||in life|| |||||||||||expectancy|| |||F||||E||E||F|| |Liabilities||1,775,000|||1,742,000|||1,809,000||1,829,000|.| |Assets||(1,171,000)|||(1,171,000)|||(1,171,000)||(1,171,000)|| |Deficit/(surplus)||604,000|||571,000|||638,000||658,000|| |Projected service||48,000||||47,000||49,000||49,000|| |cost for next year|||||||||||| |Projected interest||11,000||||11,000||11,000||12,000|| |cost for next year|||||||||||| ## ## ## |Amounts|for the current and|for the current and|previous|previous|four periods|are as follows:,|are as follows:,||| |---|---|---|---|---|---|---|---|---|---| ||||||31.12,21|- 31.12,20|31.12.19|31.12.18|3'I,12.17| |Defined|benefit pension|plans|||E|F|E|E|E| |Defined|benefit obligation|||(42,588,000)(41,627,000)|||(32,768,000)|(26,414,000)|(27,218,000)| |Fairvalueofscheme
assets|||||29,882,000|26,345,000|24,Q56,000|20,484,000,|20,954,000| |Deficit|||.|(12,706,000)(15,282,000)|||(8,712,000)|(5,930,000)|(6,264,000)| |Experience gains/(losses)||on|||||||| |scheme|liabilities||||3,458,000|(5,666,000)|(1,929,000)||| |Experience gains/(losses)||on|||||||| |scheme|assets||||||||| ## ## ## ## ## ##