Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
Company registration number: 04343347 Charity number: 1093653
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2025
INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## CONTENTS
||Page|
|---|---|
|**Reference and administrative details of the Company, its Trustees and advisers**|1|
|**Trustees' report**|2 - 6|
|**Independent auditors' report on the financial statements**|7 - 10|
|**Statement of financial activities**|11|
|**Balance sheet**|12|
|**Statement of cash flows**|13|
|**Notes to the financial statements**|14 - 30|
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
# INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
**Trustees** C N Warne, Chairman M Gibson A R Jacobson A J Keating A M Sinclair (resigned 3 June 2024) S T Q Williams **Company registered number** 04343347 **Charity registered number** 1093653 **Registered office** InspireAll Leisure The Venue Leisure Centre Elstree Way Borehamwood Hertfordshire WD6 1JY **Chief executive officer** N Palmer **Independent auditor** Menzies LLP Chartered Accountants Statutory Auditor Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP **Banker** Royal Bank of Scotland 2nd Floor 10 St Peter's Street St Albans Herts AL1 3LY
Page 1
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
The Trustees, who are also the directors of the Charity for the purposes of the Companies Act 2006, present their annual report and the audited financial statements for the year ended 31 March 2025. The financial statements have been prepared under the Charities SORP (FRS 102) and applicable UK accounting legislation.
## **STRATEGIC REPORT**
## **Objectives and Activities**
IInspireAll Leisure & Family Support Services (“InspireAll”) exists to promote health, wellbeing and active lifestyles for the communities it serves. The Charity’s objectives, outlined in its Memorandum and Articles of Association, focus on providing inclusive leisure, wellbeing and community support services.
The Charity manages leisure centres, community venues, family services and a local theatre. It offers a wide range of opportunities that encourage physical activity and social engagement for people of all ages and abilities. Pricing policies are designed to make services accessible and affordable, while allowing the Charity to generate sufficient surplus to maintain facilities, refurbish equipment and remain competitive.
## **Public Benefit and Beneficiaries**
Facilities include four major leisure centres, several sports and community centres, pavilions and a theatre. These venues support participation by individuals, groups and clubs across a wide range of activities.
Participation options include memberships, pay-as-you-go access and concessionary schemes designed to reduce barriers and encourage healthier lifestyles.
The Trustees confirm they have complied with their obligations under Section 17(5) of the Charities Act 2011 and have had regard to the Charity Commission’s guidance on public benefit when reviewing objectives and planning activities.
## **Achievements and Performance**
The Charity continued to deliver programmes that encourage health, wellbeing and community engagement despite a year of significant operational change.
The Charity was unsuccessful in the retendering of the Family Services contract (ceased 31 December 2024) and the Milton Keynes contract for Bletchley Leisure Centre (ceased 31 October 2024). Stevenage Leisure Ltd entered liquidation following the loss of its final major contract. InspireAll subsequently took over shared staff contracts and received novation of three remaining SLL contracts from 1 June 2024. This led to a rationalisation of head office roles.
The changes that have occurred over recent years, with InspireAll finding itself unable to outbid the larger leisure operators, takes InspireAll back to its roots, with the Hertsmere Borough Council contract once again the main focus of the business. The Trustees are optimistic that the business will continue to provide a high quality service to its remaining customers and will continue to generate the surplus needed to maintain the facilities to a high standard.
Despite these challenges, operational performance improved. Facility investment undertaken pre-COVID continued to enhance service delivery, and income levels exceeded expectations for 2024–25. A full pay review in April 2024 resulted in salary increases across all roles.
## **Community and Charity Engagement**
Throughout the year, InspireAll supported both national and local charity initiatives including Sport Relief, Comic Relief, Macmillan Coffee Morning, Children in Need, Breast Cancer Awareness, Christmas Jumper Day and Movember. Local activity included food bank collections, Christmas toy donations, community meditation sessions for the Royal Free NHS Trust and the provision of foyer space for Pets as Therapy.
Wyllyotts Theatre and 96 Shenley Road played an active role in the borough’s Warm Spaces programme, providing a safe and welcoming public environment during winter months.
Page 2
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
## **Participation, Programmes and Inclusion**
Swimming lessons continued to grow strongly, with 4,540 pupils enrolled by March 2025. Memberships increased by 5% year-on-year to 8,125. The Generation Plus and Sports Development teams delivered 38 weekly activities supported by volunteer involvement and careful cost management.
The Physical Activity Referral Scheme expanded further, with 299 participants selecting the annualised supported membership and a similar number opting for the pay-as-you-go route. InspireAll also contributed to the Herts Sports Partnership Summer Park Programme and supported the Watford Mencap 5K Charity Run.
## **Education, Training and Community Development**
The Charity engaged with local schools through National Drowning Prevention Week, site visits and assemblies. InspireAll also contributed to the Generation Hertsmere careers event, providing insight into pathways in the leisure industry.
A Family Fun Day was delivered in partnership with Hertsmere Borough Council in September 2024 as part of the Council’s 50th Anniversary celebrations.
## **Recognition and Volunteers**
The InspireAll Swimming Leadership Team won the Outstanding Leadership Award at the 2024 UK Active Awards, marking an important national recognition of the Charity’s work.
The Trustees express their gratitude to volunteers, who played a key role in enhancing community activities, particularly at Wyllyotts Theatre and within the wider programme of events.
## **Financial Review**
Total income for the year was £18,944,747 (2024: £18,553,508), with strong contributions from memberships, swimming lessons and children’s activities. Income from the Hertsmere Borough Council contract increased by 11% compared with the prior year.
The Charity’s surplus before pension adjustments was £484,886 (2024: deficit of £73,440). Net current liabilities at year end were £17,426 and the Charity held cash of £2,372,889. Unrestricted reserves were £228,191 in deficit after long-term liabilities.
A provision of £421,000 was recognised for dilapidations following a review of Hertsmere Borough Council facilities.
## **Principal Funding Sources**
The Charity generates the majority of its income from customers using leisure facilities: membership income, swimming lessons and activity-based services. The management fee from Milton Keynes Council ended on 31 October 2024. The Family Support Services contract was fully funded by Hertfordshire County Council.
The Charity does not undertake general fundraising and does not employ professional fundraisers.
## **Reserves Policy**
Unrestricted reserves excluding the retirement benefit obligation totalled a deficit of £228,191 (2024: deficit £572,077). Cash balances were £2,372,889 (2024: £2,664,781). The ongoing deficit is attributable to the lasting impact of COVID-19.
The Trustees aim to restore reserves to a positive position within one to two years and then maintain reserves between £500,000 and £1,000,000. The defined benefit pension scheme is in surplus and poses no financial risk.
## **Going Concern**
The Trustees have assessed the Charity’s financial position and forecast performance and consider that sufficient resources are available to continue operations for the foreseeable future. The going concern basis has therefore been adopted in preparing the financial statements.
Page 3
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
## **Principal Risks and Uncertainties**
The loss of key contracts requires the Charity to operate more efficiently and focus on the Hertsmere Borough Council contract as its core activity. Staffing costs have risen following increases in employer National Insurance contributions and statutory minimum wage rates. Recruitment and retention remain challenging.
The Trustees continue to prioritise workforce planning, cost control and operational performance. Monthly management accounts, forecasts and KPIs are reviewed by the Board and Committees, and the risk register is formally reviewed and updated.
## **Future Plans**
The Charity intends to concentrate on strengthening existing services rather than pursuing new contracts. With major investment completed prior to the pandemic, significant capital expenditure is not expected in the near term, although maintenance needs will increase as facilities age. Operating surpluses will be reinvested into facilities and services where needed.
## **TRUSTEES’ REPORT**
## **Structure, Governance and Management**
## **Governing Document and Constitution**
The Charity is a charitable company limited by guarantee, established on 1 December 2003. The Memorandum and Articles of Association were amended in 2006 to incorporate children’s centres and further updated in 2016 to remove non-Trustee Members. Each Member guarantees £1 in the event of winding-up.
The Charity must have between three and eleven Trustees; six served during the year. Trustees are also directors for the purposes of the Companies Act.
## **Recruitment and Appointment of Trustees**
Trustees are recruited to ensure a broad range of skills and experience. Vacancies are advertised, applicants meet the Chair and Chief Executive, and candidates attend a Board meeting as observers before any appointment is considered.
## **Induction and Training**
New Trustees are encouraged to meet managers across sites to gain an understanding of the Charity’s services and operations.
## **Organisational Structure and Decision-Making**
The Board of Trustees meets at least quarterly and delegates the day-to-day running of the Charity to the Executive Management Team. Alongside Board meetings, the Finance & Development Committee and the HR Committee meet regularly. These committees enable Trustees with relevant specialist experience to engage more closely with operational, financial and workforce matters and provide effective oversight.
The Board comprises individuals with extensive professional backgrounds, including finance, customer relations, food and beverage, marketing and energy, as well as senior-level general management experience. This breadth of expertise supports informed decision-making and robust governance.
Pay and remuneration for all employees, including key management personnel, are reviewed annually by the HR Committee. When considering annual pay awards, the Committee assesses affordability, inflation, statutory requirements, and local market conditions to ensure fairness and competitiveness across the workforce.
Page 4
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
The Board and the Finance & Development Committee receive and review monthly management accounts, financial reforecasts and a comprehensive set of financial Key Performance Indicators. These include, but are not limited to, income and operational surplus against budget, membership revenue and growth, staffing cost ratios and financial performance for each contract.
Performance is assessed not only through financial indicators but also through a suite of non-financial KPIs that reflect InspireAll’s broader charitable aims. These include participation levels, customer satisfaction outcomes, levels of community engagement, employee engagement and progress towards achieving the Charity’s health and wellbeing objectives.
## **Governance**
Local Authorities for whom InspireAll delivers services—Hertsmere Borough Council, Milton Keynes Council and Hertfordshire County Council—do not nominate Trustees.
## **Cooperation with Other Organisations**
InspireAll occupies buildings owned by Hertsmere Borough Council and Hertfordshire County Council. The Family Support Services team collaborated with Hertfordshire Community Trust, Barnardo’s and One YMCA until the contract ceased in December 2024. InspireAll and Stevenage Leisure Ltd operated joint head office functions until 31 May 2024.
## **Risk Management**
The Board and Committees review management accounts, KPIs and forecasts monthly. The risk register is reviewed at Board level and updated regularly.
## **People and Employment Matters**
## **Employee Information**
InspireAll values strong internal communication and staff engagement. Employees are kept informed through meetings, briefings and internal channels and are encouraged to participate in decision-making. Training and development are prioritised, and the Charity is committed to equal opportunities.
## **Disabled Persons**
The Charity follows a policy of equal opportunity in recruiting and supporting disabled persons and makes reasonable adjustments and provides training where required.
## **Events Since the Year End**
No significant post-balance-sheet events have occurred requiring disclosure or adjustment.
## **Statement of trustees' responsibilities**
The trustees (who are also the directors of InspireAll Leisure and Family Support Services 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) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, 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.
Page 5
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
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 that 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 taken 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.
## **Auditors**
Under section 487(2) of the Companies Act 2006,Menzies LLP will be deemed to have been reappointed 28 days after these financial statements were sent to members, or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is the earliest.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ hols **C N Warne** 2BA1401AB0C34AF.
Date: 17-Dec-2025
Page 6
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES
## **Opinion**
We have audited the financial statements of InspireAll Leisure And Family Support Services (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted 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 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's 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.
Page 7
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (CONTINUED)
## **Other information**
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. 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. 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 course of the audit, or otherwise appears to be materially misstated. If we identify 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.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' report including the Strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees' report and the Strategic report have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our 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 Trustees' report including the Strategic report.
We have nothing to report in respect of the following matters in relation to which 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 received 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.
## **Responsibilities of trustees**
As explained more fully in the Trustees' responsibilities statement, 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 statements 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 company's 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 charitable company or to cease operations, or have no realistic alternative but to do so.
Page 8
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (CONTINUED)
## **Auditors' responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report 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 detect 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- The Charity is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including the Companies Act 2006, Charities Act 2011, Health and Safety Act, GDPR and employment law. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
- We understood how the Charity is complying with those legal and regulatory frameworks by making inquiries to management and those responsible for legal and compliance procedures. We corroborated our inquiries through our review of board minutes.
- The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.
We assessed the susceptibility of the Charity's financial statements to material misstatement, including how fraud mightoccur. We considered the opportunities and incentives that may exist within the organisation for fraud and identified thegreatest potential for fraud in the following areas; posting of fraudulent journal entries, authorisation, processing, andpayment of fraudulent expenses and timing of revenue recognition.
Audit procedures performed by the engagement team included.
- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
- Challenging assumptions and judgments made by management in its significant accounting estimates; and identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as wewill be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Page 9
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (CONTINUED)
## **Use of our report**
This report is made solely to the charitable company's 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 members 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Janice Matthews FCA (Senior statutory auditor)**
for and on behalf of
## **Menzies LLP**
Chartered Accountants Statutory Auditor Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP
Date: 17-Dec-2025
Page 10
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
|**Note**
**Income from:**
Charitable activities
3
Other trading activities
4
Finance income
5
**Total income**
**Expenditure on:**
Goods for resale
Charitable activities:
6
Operation of leisure facilities
Family centres
Support costs
7
**Total expenditure**
**Net income/(expenditure)**
**Other recognised gains:**
Actuarial gains on defined benefit pension schemes
22
Pension surplus not recognised
22
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Total**
**unrestricted**
**funds**
**2025**
**£**
**17,412,594**
**1,405,153**
**127,000**
**18,944,747**
**617,293**
**13,799,023**
**2,692,543**
**1,351,002**
**18,459,861**
**484,886**
**1,026,000**
**(1,167,000)**
**343,886**
**(572,077)**
**343,886**
**(228,191)**|_Total_
_unrestricted_
_funds_
_2024_
_£_
_17,215,475_
_1,255,033_
_83,000_|
|---|---|---|
|||_18,553,508_|
|||_578,641_
_13,264,840_
_4,101,956_
_681,511_|
|||_18,626,948_|
|||_(73,440)_
_759,000_
_(851,000)_|
|||_(165,440)_|
|||_(406,637)_
_(165,440)_|
|||_(572,077)_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 14 to 30 form part of these financial statements.
Page 11
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee) REGISTERED NUMBER: 04343347
## BALANCE SHEET AS AT 31 MARCH 2025
||||**2025**|**2025**||_2024_|_2024_|
|---|---|---|---|---|---|---|---|
||**Note**||**£**|||_£_||
|**Fixed assets**||||||||
|Tangible assets|11||**2,812,846**|||_2,981,234_||
||||**2,812,846**|||_2,981,234_||
|**Current assets**||||||||
|Stocks|12|**54,713**|||_63,484_|||
|Debtors|13|**477,600**|||_2,006,842_|||
|Cash at bank and in hand||**2,372,889**|||_2,664,781_|||
|||**2,905,202**|||_4,735,107_|||
|**Current liabilities**||||||||
|Creditors: amounts falling due within one year|14|**(2,922,628)**|||_(4,859,842)_|||
|**Net current assets/(liabilities)**|||**(17,426)**|||_(124,735)_||
|**Total assets less current liabilities**|||**2,795,420**|||_2,856,499_||
|Creditors: amounts falling due after more than||||||||
|one year|15||**(2,602,611)**|||_(3,203,576)_||
|Provisions for liabilities|16||**(421,000)**|||_(225,000)_||
|**Net liabilities excluding pension asset**|||**(228,191)**|||_(572,077)_||
|**Total net liabilities**|||**(228,191)**|||_(572,077)_||
|**Charity funds**||||||||
|Unrestricted funds|17||**(228,191)**|||_(572,077)_||
|**Total deficit**|||**(228,191)**|||_(572,077)_||
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ 2BA1401ABOC34AF... **C N Warne**
(Trustee)
## Date: 17-Dec-2025
The notes on pages 14 to 30 form part of these financial statements.
Page 12
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025
|**Note**
**Cash flows from operating activities**
Net cash provided/(used in) by operating activities
19
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Cash flows from financing activities**
Repayments of loan principal
Repayments of loan interest
**Net cash used in financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
20|**2025**
**£**
**1,418,575**
**(962,973)**
**(962,973)**
**(571,713)**
**(175,781)**
**(747,494)**
**(291,892)**
**2,664,781**
**2,372,889**|_2024_
_£_
_(41,418)_|
|---|---|---|
|||_(385,109)_|
|||**(385,109)**|
|||_(543,887)_
_(203,607)_|
|||**(747,494)**|
|||**(1,174,021)**
_3,838,802_|
||||
|||_2,664,781_|
The notes on pages 14 to 30 form part of these financial statements
Page 13
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
# INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **1. General information**
InspireAII Leisure and Family Support Services is a private company limited by guarantee, registered in England and Wales, as a well as being a charity registered in the same jurisdiction. The charity's registered numbers and office address can be found within the reference and administrative details on page 1.
The presentation currency of the financial statements is the Pound Sterling (£).
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
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.
Inspireall Leisure And Family Support Services meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
We believe that the financial statements should be prepared on a going concern basis on the grounds that the current and future management contract with Hertsmere Borough Council will deliver financial stability with an operating surplus. We have considered a period of twelve months from the date of approval of the financial statements and prepared budgets and forecasts to demonstrate future surpluses and adequate cashflow. We believe that no further disclosures relating to the entity’s ability to continue as a going concern need to be made in the financial statements.
## **2.3 Income**
Income from charitable activities includes income recognised as earned under contract or where there is entitlement to grant funding. All income resources are recognised when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Certain income is received in advance of the provision of the relevant service and as such is deferred until the service commences. Income for annual memberships is accounted for over the membership year within the Leisure centres whilst income for future events and shows is recognised once the event is performed for our Theatre.
## **2.4 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 heading 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.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
Page 14
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
# INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **2. Accounting policies (continued)**
## **2.5 Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **2.6 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
The charity has a capitalisation threshold of £1,000, below which expenditure on assets is charged directly to the statement of financial activities.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
Long-term leasehold property - Over the life of the lease - Plant and machinery 3 to 10 years on cost - IT, Fixtures and fittings 3 to 5 years on cost
## **2.7 Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **2.8 Pensions**
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
The Company operates a defined benefits pension scheme and the pension charge is based on a full actuarial valuation.
## **2.9 Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Page 15
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **3. Income from charitable activities**
|Operation of leisure facilities
Family centres
**Total 2025**
_Total 2024_|**Unrestricted**
**funds**
**2025**
**£**
13,629,623
3,782,971
17,412,594
_17,215,475_|**Total**
**funds**
**2025**
**£**
**13,629,623**
**3,782,971**
**17,412,594**
_17,215,475_|_Total_
_funds_
_2024_
_£_
_12,327,797_
_4,887,678_|
|---|---|---|---|
||||_17,215,475_|
|||||
## **4. Retail income**
|Secondary sales
_Total 2024_
**5.**
**Investment income**
Pension income
_Total 2024_|**Unrestricted**
**funds**
**2025**
**£**
1,405,153
_1,255,033_
**Unrestricted**
**funds**
**2025**
**£**
127,000
_83,000_|**Total**
**funds**
**2025**
**£**
**1,405,153**
_1,255,033_
**Total**
**funds**
**2025**
**£**
**127,000**
_83,000_|_Total_
_funds_
_2024_
_£_
_1,255,033_|
|---|---|---|---|
||||_Total_
_funds_
_2024_
_£_
_83,000_|
|||||
The £127,000 pension income _(2024: net expense of £83,000)_ relates to the net interest income earned on the defined benefit pension scheme and is calculated as the net interest income of £552,000 less the net interest expense of £425,000. Please see note 23 for further details on the defined benefit pension scheme.
Page 16
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **6. Charitable Activities Cost**
## **Summary by fund type**
|Operation of leisure facilities
Family centres
**Total 2025**
_Total 2024_|**Unrestricted**
**funds**
**2025**
**£**
14,874,563
2,968,005
17,842,568
_18,048,307_|**Total**
**2025**
**£**
**14,874,563**
**2,968,005**
**17,842,568**
_18,048,307_|_Total_
_2024_
_£_
_13,752,861_
_4,295,446_|
|---|---|---|---|
||||_18,048,307_|
|||||
## **7. Analysis of expenditure by activities**
|Operation of leisure facilities
Family centres
**Total 2025**
_Total 2024_|**Activities**
**undertaken**
**directly**
**2025**
**£**
13,799,023
2,692,543
16,491,566
_17,366,796_|**Support**
**costs**
**2025**
**£**
1,075,540
275,462
1,351,002
_681,511_|**Total**
**funds**
**2025**
**£**
**14,874,563**
**2,968,005**
**17,842,568**
_18,048,307_|_Total_
_funds_
_2024_
_£_
_13,752,861_
_4,295,446_|
|---|---|---|---|---|
|||||_18,048,307_|
||||||
Page 17
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Staff costs
Depreciation
Premises expenses
Licenses
IT and communications
Finance costs
Repairs and maintenance
Marketing
Legal and professional
Theatre
Other costs
**Total 2025**
_Total 2024_|**Operation of**
**leisure**
**facilities**
**2025**
**£**
7,344,976
1,059,601
2,119,227
148,591
161,859
268,869
1,271,002
177,805
263,547
401,743
581,803
13,799,023
_13,264,840_|**Family**
**centres**
**2025**
**£**
2,295,603
30,225
(28,605)
4,048
70,161
591
211,919
373
8,106
-
100,122
2,692,543
_4,101,956_|**Total**
**funds**
**2025**
**£**
**9,640,579**
**1,089,826**
**2,090,622**
**152,639**
**232,020**
**269,460**
**1,482,921**
**178,178**
**271,653**
**401,743**
**681,925**
**16,491,566**
_17,366,796_|_Total_
_funds_
_2024_
_£_
_9,714,221_
_1,108,571_
_2,443,166_
_141,806_
_287,562_
_289,324_
_1,790,587_
_211,887_
_225,864_
_364,100_
_789,708_|
|---|---|---|---|---|
|||||_17,366,796_|
||||||
Page 18
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Staff costs
Depreciation
Premises expenses
Licenses
IT and communications
Finance costs
Repairs and maintenance
Marketing
Legal and professional
Other costs
**Total 2025**
_Total 2024_
**8.**
**Auditors' remuneration**
Fees payable to the Company's auditor for the audit
accounts
Fees payable to the Company's auditor in respect of
All non-audit services not included above|**Operation of**
**leisure**
**facilities**
**2025**
**Family**
**centres**
**2025**
**£**
**£**
745,866
191,028
46,315
11,862
38,278
9,803
50,290
12,880
52,312
13,398
24,589
6,298
4,976
1,274
1,484
380
55,696
14,265
55,734
14,274
1,075,540
275,462
_488,021_
_193,490_
of the Company's annual
the preparation of accounts|**Total**
**funds**
**2025**
**£**
**936,894**
**58,177**
**48,081**
**63,170**
**65,710**
**30,887**
**6,250**
**1,864**
**69,961**
**70,008**
**1,351,002**
_681,511_
**2025**
**£**
**26,000**
**3,500**|_Total_
_funds_
_2024_
_£_
_254,497_
_36,314_
_148,718_
_11,690_
_50,044_
_8,170_
_19,008_
_8,687_
_62,282_
_82,101_|
|---|---|---|---|
||||_681,511_|
||||_2024_
_£_
_24,350_
_3,150_|
Page 19
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **9. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
Operating costs of defined benefit pension schemes|**2025**
**£**
**9,784,852**
**545,801**
**186,820**
**60,000**
**10,577,473**|_2024_
_£_
_9,141,820_
_572,526_
_189,372_
_65,000_|
|---|---|---|
||||
|||_9,968,718_|
The average number of persons employed by the Company during the year was as follows:
|Leisure and facilities
Family centre activities
Senior management and administration|**2025**
**No.**
**544**
**138**
**21**
**703**|_2024_
_No._
_494_
_169_
_12_|
|---|---|---|
||||
|||_675_|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
||**2025**|_2024_|
|---|---|---|
||**No.**|_No._|
|In the band £60,001 - £70,000|**1**|_1_|
|In the band £70,001 - £80,000|**1**|_-_|
|In the band £90,001 - £100,000|**-**|_1_|
|In the band £100,001 - £110,000|**1**|_-_|
Total key management personnel remuneration (including benefits) was £322,052 (2024: £262,586).
Page 20
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **10. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2024 - £14,180)_ .
During the year ended 31 March 2025, no Trustee expenses have been incurred _(2024 - £NIL)_ .
## **11. Tangible fixed assets**
|**Cost or valuation**
At 1 April 2024
Additions
At 31 March 2025
**Depreciation**
At 1 April 2024
Charge for the year
At 31 March 2025
**Net book value**
At 31 March 2025
_At 31 March 2024_
**Stocks**
Raw materials and consumables|**Long-term**
**leasehold**
**property**
**£**
**945,647**
**513,528**
**1,459,175**
**765,807**
**162,660**
**928,467**
**530,708**
_179,840_|**Plant and**
**machinery**
**£**
**9,609,434**
**447,390**
**10,056,824**
**6,868,006**
**913,342**
**7,781,348**
**2,275,476**
_2,741,428_|**IT and F&F**
**£**
**590,768**
**2,055**
**592,823**
**530,802**
**55,359**
**586,161**
**6,662**
_59,966_
**2025**
**£**
**54,713**|**Total**
**£**
**11,145,849**
**962,973**|
|---|---|---|---|---|
|||||**12,108,822**|
|||||**8,164,615**
**1,131,361**|
|||||**9,295,976**|
|||||**2,812,846**|
|||||_2,981,234_|
|||||_2024_
_£_
_63,484_|
## **12. Stocks**
Page 21
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **13. Debtors**
|**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income|**2025**
**£**
**162,383**
**98,647**
**216,570**
**477,600**|_2024_
_£_
_1,636,302_
_184,838_
_185,702_|
|---|---|---|
||||
|||_2,006,842_|
## **14. Creditors: Amounts falling due within one year**
|Other loans
Accruals
Trade creditors
Other taxation and social security
Other creditors
Deferred income|**2025**
**£**
**600,965**
**805,563**
**530,437**
**137,132**
**291,537**
**556,994**
**2,922,628**|_2024_
_£_
_571,713_
_688,844_
_973,797_
_354,644_
_293,697_
_1,977,147_|
|---|---|---|
||||
|||_4,859,842_|
Accruals include £18,795 (2024: £nil) in respect of a profit-share payable on the Hertsmere Borough Council contract.
|Deferred income at 1 April
Resources deferred during the year
Amounts released from previous periods
**Deferred income at 31 March**|**2025**
**£**
**1,977,147**
**544,201**
**(1,964,354)**
**556,994**|_2024_
_£_
_1,887,740_
_1,770,603_
_(1,681,196)_|
|---|---|---|
||||
|||_1,977,147_|
Where income has been received or invoiced in advance of the service being provided, a proportionate amount has been deferred at the year end. This includes management fees invoiced in advance, theatre ticket sold in advance of the production date and annual fitness memberships.
Page 22
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **15. Creditors: Amounts falling due after more than one year**
|Other loans
Due within one year, included in current liabilities
**Other loans due after more than one year**
The loans are repayable as follows:
Amounts falling due within one year
Amounts falling between one and two years
Amounts falling due between two and five years
Amounts falling due later than five years|**2025**
**£**
**3,203,576**
**(600,965)**
**2,602,611**
**2025**
**£**
**600,965**
**631,710**
**1,970,901**
**-**
**3,203,576**|_2024_
_£_
_3,775,289_
_(571,713)_|
|---|---|---|
|||_3,203,576_|
|||_2024_
_£_
_571,713_
_600,964_
_1,993,740_
_608,872_|
|||_3,775,289_|
Loans are from Hertsmere Borough Council and are secured by way of fixed and floating charge over the assets of the charity.
## **16. Provisions**
|At 1 April 2024
Additions
Amount released
**At 31 March 2025**|**Dilapidation**
**£**
**225,000**
**421,000**
**(225,000)**|
|---|---|
|||
||**421,000**|
InspireAll had operated a number of facilities since 2009 for Milton Keynes Council. The contract expired on 31st October 2024 and a full dilapidations review was completed. As the liability for the dilapidations has accumulated over the term of the contract, a provision for this post balance sheet event has been included in the accounts. The full and final settlement of the dilapidations was agreed with MKC at £225,000 and has been settled.
The Charity has recognised a dilapidations provision for the estimated costs of restoring the Hertsmere Borough Council leased properties to the required condition at the end of the contract. The amount represents the Trustees’ best estimate of the obligation in accordance with FRS 102.
Page 23
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **17. Statement of funds**
**Statement of funds - current year**
|**Unrestricted**
**funds**
**Designated**
**funds**
Family Centres
96 Shenley Road
Bushey
Community
Centre
Herts Sports
Retirement benefit
obligations
**General funds**
General Fund
Unallocated
amounts
**Total**
**Unrestricted**
**funds**|**Balance at 1**
**April 2024**
**£**
**1,781,931**
**(17,799)**
**(106,689)**
**102,205**
**-**
**1,759,648**
**(2,331,725)**
**-**
**(2,331,725)**
**(572,077)**|**Income**
**£**
**3,535,101**
**471,927**
**49,826**
**138,097**
**127,000**
**4,321,951**
**14,622,796**
**-**
**14,622,796**
**18,944,747**|**Expenditure**
**£**
**(3,152,880)**
**(471,927)**
**(86,235)**
**(73,315)**
**(60,000)**
**(3,844,357)**
**(14,596,709)**
**(18,795)**
**(14,615,504)**
**(18,459,861)**|**Transfers**
**in/out**
**£**
**(2,164,152)**
**17,799**
**143,098**
**(166,987)**
**74,000**
**(2,096,242)**
**2,096,242**
**-**
**2,096,242**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**-**
**-**
**-**
**(141,000)**
**(141,000)**
**-**
**-**
**-**
**(141,000)**|**Balance at 31**
**March 2025**
**£**
**-**
**-**
**-**
**-**
**-**|
|---|---|---|---|---|---|---|
|||||||**-**|
|||||||**(209,396)**
**(18,795)**|
|||||||**(228,191)**|
|||||||**(228,191)**|
Page 24
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **17. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted**
**funds**
**Designated**
**funds**
Family Centres
96 Shenley Road
Bushey
Community
Centre
Herts sports
Retirement benefit
obligations
**General funds**
General Fund
**Total**
**Unrestricted**
**funds**|_Balance at_
_1 April 2023_
_£_
_1,705,014_
_(17,547)_
_(46,225)_
_38,312_
_-_
_1,679,554_
_(2,086,191)_
_(406,637)_|_Income_
_£_
_4,762,878_
_458,434_
_38,804_
_114,730_
_83,000_
_5,457,846_
_13,095,662_
_18,553,508_|_Expenditure_
_£_
_(4,685,961)_
_(458,686)_
_(99,268)_
_(50,837)_
_(65,000)_
_(5,359,752)_
_(13,267,196)_
_(18,626,948)_|_Transfers_
_in/out_
_£_
_-_
_-_
_-_
_-_
_74,000_
_74,000_
_(74,000)_
_-_|_Gains/_
_(Losses)_
_£_
_-_
_-_
_-_
_-_
_(92,000)_
_(92,000)_
_-_
_(92,000)_|_Balance at_
_31 March_
_2024_
_£_
_1,781,931_
_(17,799)_
_(106,689)_
_102,205_
_-_|
|---|---|---|---|---|---|---|
|||||||_1,759,648_|
|||||||_(2,331,725)_|
|||||||_(572,077)_|
The purpose of material designated funds is as follows:
## **FAMILY CENTRES**
This is a 6 year contract from 1st October 2018 to oversee 50% of Hertfordshire County Council's Family Support Centres. Total funding received 2024/25 was £3,535,101 (2023/24: £4,762,878).
## **HERTS SPORTS**
Herts sports is the funding of a sports development officer for the Hertfordshire area. The officer coordinates programs to get people more active and to live healthier lifestyles.
## **96 SHENLEY ROAD**
96 Shenley Road is managed by InspireAll on behalf of Hertfordshire County Council. The building is a multipurpose facility including library, meeting rooms, performance facilities and cafe. Any surpluses are repayable to HCC and any deficits underwritten by HCC.
Income and expenses allocation are in respect to designated funds.
Page 25
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
**18. Analysis of net assets between funds**
**Analysis of net assets between funds - current year**
|Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
**Total**|**Total**
**unrestricted**
**funds**
**2025**
**£**
**2,812,846**
**2,905,202**
**(2,922,628)**
**(2,602,611)**
**(421,000)**|
|---|---|
||**(228,191)**|
**Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
**Total**|_Total_
_unrestricted_
_funds_
_2024_
_£_
_2,981,234_
_4,735,107_
_(4,859,842)_
_(3,203,576)_
_(225,000)_|
|---|---|
||_(572,077)_|
Page 26
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **19. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per Statement of Financial Activities)
**Adjustments for:**
Depreciation charges
Interest on loan
Interest cost on defined benefit obligations
Current Service cost
Interest income on plan assets
Contributions by employer
Decrease in stocks
Decrease in debtors
Decrease in creditors
(Decrease)/increase in provisions
**Net cash provided by/(used in) operating activities**
**20.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**
**21.**
**Analysis of changes in net debt**
**At 1 April**
**2024**
**£**
Cash at bank and in hand
**2,664,781**
Debt due within 1 year
**(571,713)**
Debt due after 1 year
**(3,203,576)**
**(1,110,508)**|**2025**
**£**
**484,886**
**1,131,361**
**175,781**
**425,000**
**60,000**
**(552,000)**
**(74,000)**
**8,771**
**1,529,242**
**(1,966,466)**
**196,000**
**1,418,575**
**2025**
**£**
**2,372,889**
**2,372,889**
**Cash flows**
**£**
**(291,892)**
**(29,252)**
**600,965**
**279,821**|_2024_
_£_
_(73,440)_|
|---|---|---|
|||_1,144,885_
_203,607_
_420,000_
_65,000_
_(503,000)_
_(74,000)_
_7,457_
_157,766_
_(1,614,693)_
_225,000_|
||||
|||_(41,418)_|
|||_2024_
_£_
_2,664,781_|
||||
|||_2,664,781_|
|||**At 31 March**
**2025**
**£**
**2,372,889**
**(600,965)**
**(2,602,611)**|
|||**(830,687)**|
Page 27
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **22. Employee benefit obligation**
The Company operates a defined benefit pension scheme.
Certain employees who were previously members of a Local Government Pension Scheme prior to their employment with InspireAll continue to participate in that defined benefit scheme. The contributions are paid by InspireAll in accordance with the advice of the actuary and InspireAll has no further liability to fund the scheme beyond the contributions in the year.
The latest actuarial valuation of InspireAll's liabilities took place as at 30 June 2023.
Principal actuarial assumptions at the Balance sheet date (expressed as weighted averages):
||**At 31 March**|_At 31 March_|
|---|---|---|
||**2025**|_2024_|
||**%**|_%_|
|Discount rate|**5.80**|_4.85_|
|Future salary increases|**3.90**|_3.25_|
|Future pension increases|**2.90**|_2.75_|
The Company's share of the assets in the scheme was:
||**At 31 March**|_At 31 March_|
|---|---|---|
||**2025**|_2024_|
||**%**|_%_|
|Equities|**59**|_60_|
|Corporate bonds|**23**|_21_|
|Property|**15**|_12_|
|Cash and other liquid assets|**3**|_7_|
The actual return on scheme assets was £293,000 _(2024 - £1,015,000)_ .
The amounts recognised in the Statement of financial activities are as follows:
|Current service cost
Interest income
Interest cost
**Total amount recognised in the Statement of financial activities**|**2025**
**£**
**60,000**
**(552,000)**
**425,000**
**(67,000)**|_2024_
_£_
_65,000_
_(503,000)_
_420,000_|
|---|---|---|
||||
|||_(18,000)_|
Page 28
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
## INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **22. Employee benefit obligation (continued)**
Movements in the present value of the defined benefit obligation were as follows:
|Opening defined benefit obligation
Current service cost
Interest cost
Contributions by scheme participants
Actuarial gains
Benefits paid
**Closing defined benefit obligation**|**2025**
**£**
**8,888,000**
**60,000**
**425,000**
**15,000**
**(1,285,000)**
**(274,000)**
**7,829,000**|_2024_
_£_
_8,977,000_
_65,000_
_420,000_
_15,000_
_(247,000)_
_(342,000)_|
|---|---|---|
||||
|||_8,888,000_|
Movements in the fair value of the Company's share of scheme assets were as follows:
|Opening fair value of scheme assets
Expected return on assets
Actuarial (losses)/gains
Contributions by employer
Contributions by scheme participants
Benefits paid
**Closing fair value of scheme assets**|**2025**
**£**
**11,476,000**
**552,000**
**(259,000)**
**74,000**
**15,000**
**(274,000)**
**11,584,000**|_2024_
_£_
_10,714,000_
_503,000_
_512,000_
_74,000_
_15,000_
_(342,000)_|
|---|---|---|
||||
|||_11,476,000_|
## **Defined benefit pension scheme**
The Company has an in respect of its defined benefit pension scheme as it does not expect to recover the plan surplus either through reduced contributions in the future or through refunds from the plan. Defined benefit pension scheme
The defined benefit plan assets exceeded the pension scheme obligations giving rise to a surplus of £3,755,000 as at the 31 March 2025, however in accordance with FRS 102 Section 28.22, the surplus has not been recognised. The unrecognised positive movement in the year was £1,167,000 (2024 - £851,000).
## **Defined contribution scheme**
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in independently administered funds. The pension cost charge represents contribution payable by the charity and amounted to £246,820 (2024: £263,372).
Page 29
Docusign Envelope ID: E6980F18-963F-49C0-81CE-6307CF287F83
# INSPIREALL LEISURE AND FAMILY SUPPORT SERVICES (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
## **23. Related party transactions**
During the year, the Chief Executive Officer (CEO) of the charity was provided with a loan of £17,000 for the purchase of a motor vehicle. The loan carries an interest rate of 6.25% per annum.
In the year, interest accrued on the loan amounted to £376 and capital repayments made during the year totalled £2,833. The outstanding balance on the loan at year-end was £14,167 and £62 of accrued interest income.
The loan was approved by the Board of Trustees in accordance with the charity’s governance procedures.
There were no other related party transactions for the year ended 31 March 2025 (2024: None).
Page 30