## ## ||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%| ## ## ## ## ##