2022-03-31-accounts

	Page
Reference and administrative details
Report ofthe trustees	2 to	10
Report ofthe independent auditors	11 to	14
Statement offinancial activities	15
Statement offinancial position	16
Statement ofcash flows	17
Notes tothe statement ofcash flows	18
Notes tothe financial statements	19 to	33

Trustees			C N Warne - Chairman	C N Warne - Chairman
			M FBarnett (resigned 1/4/21)
			M Gibson
			ARJacobson
			AJ Keating
			KJ O' Malley (resigned 1/4/21)
			A M Sinclair
			STQWilliams
Registered	ofgce		The Venue
			Elstree Way
			Borehamwood
			Hertfordshire
			WD6 1IY
Registered	company	number	04343347 (England	and	Wales)
Registered	charity number		1093653
Auditors			Wags LLP t/a Wagstaffs
			Chartered Accountants		and Statutory Auditors
			Richmond House
			Walkern Road
			Stevenage
			Hertfordshire
			SG13QP
Chief executive			R W Allan

Richard	Allan	Chief Executive Officer
Natalie	Palmer	Head ofFinance
Lit Applin		Head of Family Centres
Lee Medlock		Head ofOperations
Adri an	Hill	Head of IT
Donna	Radics	Head of HR
Martin	Smith	Head ofFacilities

					2022	2021
				Unrestricted	Total	Total
				funds	funds	funds
			Notes	E	E	E
INCOME AND ENDOWMENTS		FROM
Income from charitable	activities			14,868,712	14,868,712	8,849,871
Retail income				559,843	559,843	64,414
Other income				361,680	361,680	2,192,125
Total				15,790,235	15,790,235	11,106,410
EXPENDITURE ON
Goods for resale				283,274	283,274	40,831
Charitable activities
Operation ofleisure facilities				10,170,843	10,170,843	8,265,678
Children's and family centres				4,379,351	4,379,351	4,278,243
Support costs				878,785	878,785	709,247
Total				15,712,253	15,712,253	13,293,999
NET INCOME/(EXPENDITURE)				77,982	77,982	(2,187,589)
Other recognised gains/(losses)
Actuarial gains/(losses)	on defined benefit
schemes				1,949,000	1,949,000	(1,191,000)
Net movement in funds				2,026,982	2,026,982	(3,378,589)
RECONCILIATION OF FUNDS
Total funds brought forward				(3,065,089)	(3,065,089)	313,500
TOTAL FUNDS CARRIED	FORWARD			(1,038,107)	(1,038,107)	(3,065,089)

STATEM	ENT O	F FINANCIAL PO	SITION
	31	MARCH 2022
				2022	2021
			Unrestricted	Total	Total
			funds	funds	funds
	Notes		E	E	E
FIXEDASSETS
Tangible assets	13		4,333,962	4,333,962	5,335,320
Investments	14				1
			4,333,962	4,333,962	5,335,321
CURRENT ASSETS
Stocks	15		44,415	44,415	24,284
Debtors	16		556,626	556,626	798,294
Cash at bank			4,009,679	4,009,679	2,283,969
			4,610,720	4,610,720	3,106,547
CREDITORS
Amounts falling due within one year	17		(5,076,613)	(5,076,613)	(4,220,781)
NET CURRENT ASSETS			(465,893)	(465,893}	(1,114,234)
TOTAL ASSETS LESSCURRENT LIABILITIES			3,868,069	3~,069	4,221,087
CREDITORS
Amounts falling due after more than one year	18		(4,319,176)	(4319,176)	(4,847,176)
PENSION LIABILITY	21		(5$7,000)	(5$7,000)	(2,439,000)
NET ASSETS			(1,038,107)	(1,038,107)	(3,065,089)
FUNDS	20
Unrestricted funds				(1,038,107)	(3,065,089)
TOTAL FUNDS				(1,03$,107)	(3,065,089)

				2022	2021
			Notes		E
Cash flows from operating	activities
Cash generated from operations				1,946,568	594,448
Net cash provided by operating activities				1,946,568	594,448
Cash flows from investing	activities
Purchase oftangible fixed	assets			(220,858)	(201,081)
Net cash used in investing	activities			(220,858)	(201,081)
Change in cash and cash equivalents		in
the reporting period				1,725,710	393,367
Cash and cash equivalents	at the
beginning ofthe reporting	period			2,283,969	1,890,602
Cash and cash equivalents	at the end	of
the reporting period				4,009,679	2,283,969

RECONCILIATION	OF NET INCOME/(EXPENDITURE)	OF NET INCOME/(EXPENDITURE)	OF NET INCOME/(EXPENDITURE)	TO NET	CASH FLOW FROM OPERATING	CASH FLOW FROM OPERATING	ACTIVITIES
						2022	2021
						E	E
Net income/(expenditure)			forthe reporting period	(asper	the
Statement offinancial activities)						77,982	(2,187,589)
Adjustments for:
Depreciation charges						1,222,216	1,419,931
impairment						1
Increase in stocks						(20,131)	(487)
Decrease in debtors						241,668	1,096,274
Increase in creditors						327,832	283,319
Difference between		pension charge and cash contributions				97,000	(17,000)
Net cash provided		by operations				1,946,568	594,448
ANALYSIS OF CHANGES			IN NET DEBT
					At 1.4.21	Cash flow	At31.3.22
					E	E	f
Net cash
Cash at bank					2,2$3,969	1,725,710	4,009,679
					2,283,969	1,725,710	4,009,679
Debt
Debts falling due	within		1year			(528,000)	(528,000)
Debts falling due	after 1year				(4,847,176)	528,000	(4,319,176)
					(4,847,176)		~4,847,176)
Total					(2,563,207)	1,725,710	(837,497)

INCOME F	ROM CHARITABLE ACTIVITIES
		2022	2021
		E	E
Operation	of leisure facilities	10,143,853	3,739,895
Children's	and family centres	4,724,859	5,109,976
		14,868,712	8,849,871
RETAIL INCOME
		2022	2021
		E	E
Secondary	sales	559,843	64,414

OTHER INCOME
		2022	2021
		E	E
Expected return on retirement	benefit assets	220,000	210,000
Income from CIRS claims		141,680	1,982,125
		361,680	2,192,125

		Direct	Support
		Costs (see	costs (see
		note 7)	note 8)	Totals
		E	E	E
Operation	ofleisure facilities	10,170,843		10,170,843
Children's	and family centres	4,379,351		4,379,351
Support costs			878,785	878,785
		14,550,194	878,785	15,428,979
DIRECT COSTSOF CHARITABLE ACTIVITIES
			2022	2021
			E	E
Staff costs			8,200,150	7,836,279
Premises expenses			2,123,999	1,194,862
Repairs and maintenance			1,288,464	919,528
Other costs			1,787,316	1,233,855
Depreciation			1,150,265	1,359,397
			14,550,194	12,543,921

	2022	2021
	E	E
Staff costs	562,245	4&5,903
Premises expenses	21,000	21,000
Repairs and maintenance	549	2,710
Other costs	223,040	139,100
Depreciation	71,951	60,534
	878,785	709,247

			2022	2021
			6	E
Depreciation -owned		assets	1,222,216	1,419,931
Auditors'	remuneration	- audit services	12,500	12,500
Auditors'	remuneration	-other services	2,000	2,000

		2022	2021
		6	E
Wages	and salaries	7,610,500	7,337,586
Social	security costs	4&3,146	477,867
Other	pension costs	668,749	506,729
		8,762,395	8,322,182

					2022	2021
Leisure	activities				368	419
Family	support	activities			188	195
Senior	management		and	administration	21	18
					577	632

	2022	2021
660,001 - 670,000	1	1
670,001 - E&0,000	1
6120,001 - 6130,000

12.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
			Unrestricted	Restricted	Total
			funds	funds	funds
			E	E	E
	INCOME AND ENDOWMENTS	FROM
	Income from charitable activities		8,849,871		8,849,871
	Retail income		64,414		64,414
	Other income		2,192,125		2,192,125
	Total		11,106,410		11,106,410
	EXPENDITURE ON
	Goods for resale		40,831		40,831
	Charitable activities
	Operation ofleisure facilities		8,265,678		8,265,678
	Children's and family centres		4,278,243		4,278,243
	Support costs		709,247		709,247
	Total		13,293,999		13,293,999
	NET INCOME/(EXPENDITURE)		(2,187,589)		(2,187,589)
	Transfers between funds		43,993	(43,993)
	Other recognised gains/(losses)
	Actuarial gains/(losses) on defined benefit
	schemes		(1,191,000)		(1,191,000)
	Net movement in funds		(3,334,596)	(43,993)	(3,378,589)
	RECONCILIATION OF FUNDS
	Total funds brought forward		269,507	43,993	313,500
	TOTAL FUNDS CARRIED FORWARD		(3,065,089)		(3,065,089)

TANGIBLE FIXEDASSETS
			Fixtures
	Long	Plant and	and
	leasehold	machinery	fittings	Totals
	E	E	E	E
Cost
At 1stApril 2021	818,464	8,814,199	254,363	9,887,026
Additions	22,341	148,092	50,425	220,$5$
At 31st March 2022	840,805	8,962,291	304,788	10,107,884
Depreciation
At 1st April 2021	446,769	3,944,408	160,529	4,551,706
Charge for year	88,090	1,044,090	90,036	1,222,216
At 31stMarch 2022	534,859	4,988,498	250,565	5,773,922
Net book value
At 31stMarch 2022	305,946	3,973,793	54,223	4,333,962
At 31stMarch 2021	371,695	4,869,791	93,834	5,335,320

15.	STOCKS
				2022	2021
				E	E
	Finished goods			44,415	24,284
16.	DEBTORS:AMOUNTS		FALLING DUE WITHIN ONE YEAR
				2022	2021
				E	E
	Trade debtors			237,252	283,408
	Other debtors			37,281	376,898
	Prepayments	and accrued income		282,093	137,988
				556,626	798,294
17.	CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR
				2022	2021
				E	E
	Other loans (see note		18)	528,000
	Trade creditors			716,334	464,256
	VAT			368,197	347,668
	Other creditors			5,953	5,124
	Accruals and	deferred	income	3,458,129	3,403,733
				5,076,613	4,220,781

CREDITOR	S: AMOUNTS FALUNG DUE AFTER MORE THAN ONE YEAR
		2022	2021
		E	E
Other loans (see below)		4,319,176	4,847,176
Included within creditors falling due within one year and creditors falling due after more than			one year a
loans.
An analysis	ofthe maturity ofloans is given below:
		2022	2021
		E	E
Amounts falling due within one year on demand:
Otherloans		528,000
Amounts falling between one and two years:
Otherloans		543,887	528,072
Amounts falling due between two and five years:
Otherloans		1,804,386	1,734,282
Amounts falling due in more than five years:
Repayable	by instalments:
Otherloans		1,970,903	2,584,822
Included in	secured creditors is E4,847,176(2021:E4,847,176).

	2022	2021
	E	E
Within one year	148,410	148,410
Between one and five years	123,155	271,565
	271,565	419,975

MOVEMENT	IN FU	NDS
				Net
				movement	At
			At 1.4.21	in funds	31.3.22
			E	E	E
Unrestricted	funds
General fund			(1,604,723)	(30,879)	(1,635,602)
Family centres			988,373	214,400	1,202,773
96Shenley	Road		(14,917)		(14,917)
Bushey Community		Centre	(66)	(11,024)	(11,090)
Herts sports			5,244	2,485	7,729
Retirement	benefit	obligations	(2,439,000)	1,852,000	(587,000)
			(3,065,089)	2,026,982	(1,038,107)
TOTAL FUNDS			(3,065,089)	2,026,982	(1,038,107)

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
			E	E	E	E
Unrestricted	funds
General fund			10,379,452	(10,410,331)		(30,879)
Family centres			4,722,760	(4,508,360)		214,400
96Shenley	Road		341,631	(341,631)
Bushey Community		Centre	81,659	(92,683)		(11,024)
Herts sports			44,733	(42,248)		2,485
Retirement	benefit	obligations	220,000	(317,000)	1,949,000	1,852,000
			15,790,235	(15,712,253)	1,949,000	2,026,982
TOTAL FUNDS			15,790,235	(15,712,253)	1,949,000	2,026,982

			Net	Transfers
			movement	between	At
		At 1.4.20	in funds	funds	31.3.21
		6	E	E	E
Unrestricted funds
General fund		1,040,322	(2,689,038)	43,993	(1,604,723)
Family centres		508,282	480,091		988,373
96Shenley Road		(19,275)	4,358		(14,917)
Bushey Community	Centre	(66)			(66)
Herts sports		5,244			5,244
Retirement benefit	obligations	(1,265,000)	(1,174,000)		(2,439,000)
		269,507	(3,378,589)	43,993	(3,065,089)
Restricted funds
Children's centres		43,993		(43,993)
TOTALFUNDS		313,500	(3,378,589)		(3,065,089)

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
			E	E	E	E
Unrestricted	funds
General fund			5,786,434	(8,475,472)		(2,689,038)
Family centres			4,758,334	(4,278,243)		480,091
96Shenley	Road		272,410	(268,052)		4,358
Bushey Community		Centre	79,232	(79,232)
Retirement	benefit	obligations	210,000	(193,000)	(1,191,000)	(1,174,000)
			11,106,410	(13,293,999)	(1,191,000)	(3,378,589)
TOTALFUNDS			11,106,410	(13,293,999)	(1,191,000)	(3,378,589)

			Deffned	benefit
			pension	plans
			2022	2021
			E	E
Present value offunded	obligations		(11,823,000)	(13,523,000)
Fair value of plan assets			11,236,000	11,084,000
			(587,000)	(2,439,000)
Present value ofunfunded		obligations
Deficit			(587,000)	(2,439,000)
Net liability			(587,000)	(2,439,000)

	Defined	benefit
	pension	plans
	2022	2021
	E	E
Current service cost	128,000	95,000
Net interest from net defined benefit
asset/liability	49,000	29,000
Past service cost
	177,000	124,000
Actual return on plan assets	305,000	1,973,000

			Defined	benefit
			pension	plans
			2022	2021
			E	E
Opening	defined benefit obligation		13,523,000	10,431,000
Current	service cost		128,000	95,000
Contributions		by scheme participants	17,000	17,000
Interest	cost		269,000	239,000
Actuarial	losses/(gains)		(1,864,000)	2,954,000
Benefits	paid		(250,000)	(213,000)
			11,823,000	13,523,000

			Degned	benefit
			pension	plans
			2022	2021
			E	E
Opening	fair	value ofscheme assets	11,084,000	9,166,000
Contributions		by employer	80,000	141,000
Contributions		by scheme participants	17,000	17,000
Expected	return		220,000	210,000
Actuarial	gains/(losses)		85,000	1,763,000
Benefits	paid		(250,000)	(213,000)
			11,236,000	11,084,000

Defined	benefit
pension	plans
2022	2021
6	E
1,949,000	(1,191,000)
1,949,000	(1,191,000)

	Defined	benefit
	pension	plans
	2022	2021
Equities	55%	59%
Bonds	25%	26%
Property	13%	11%
Cash	7%	4%
	100%	100%

		2022	2021
Discount rate		2.70%	2.00%
Future salary increases		3.50%	3.25%
Future pension	increases	3.10%	2.85%