DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 **Registered number: 04514436 Charity number: 1097819** ## **CAMBRIDGE LEISURE AND ICE CENTRE** # **(A Company Limited by Guarantee)** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 AUGUST 2021** DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE (A Company Limited by Guarantee)** ## **CONTENTS** ||Page| |---|---| |**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1 - 2| |**Trustees' Report**|3 – 6| |**Independent Examiner’s Report**|7| |**Statement of Financial Activities**|8| |**Balance Sheet**|9| |**Notes to the Financial Statements**|10 - 17| DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** ## **(A Company Limited by Guarantee)** **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021** ## **Trustees** Mr William Graham Professor Bill Harris, Chairman Ms Karen Kennedy ## **Company registered number** 04514436 ## **Charity registered number** 1097819 ## **Registered office** Salisbury House Station Road Cambridge CB1 2LA ## **Company secretary** Mr William Graham ## **Independent Examiner** Michael Hewett ACA DChA Peters Elworthy and Moore Salisbury House Station Road Cambridge CB1 2LA ## **Bankers** Barclays plc 9-11 St Andrew's Street Cambridge CB2 3AA Page 1 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** ## **(A Company Limited by Guarantee)** **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021** ## **Advisers (continued)** ## **Solicitors** Mills & Reeve Botanic House 98-100 Hills Road Cambridge CB2 1PH DWF Bridgewater Place Water Lane Leeds LS11 5DY ## **Surveyors** Savills Unex House 132-134 Hills Road Cambridge CB2 8PA Monro White Hilton 3rd Floor 6-8 Fenchurch Buildings Fenchurch Street London EC3M 5HT Page 2 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** ## **(A Company Limited by Guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2021** The Trustees present their annual report together with the financial statements of the company for the year 1 September 2020 to 31 August 2021. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition October 2019). Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. ## **OBJECTIVES AND ACTIVITIES** ## **POLICIES AND OBJECTIVES** CLIC's objects and principal activities are to "...organise or provide or assist in the organisation or provision of a sports and leisure centre to include an Ice Arena and ancillary facilities for ... the public ... including school, college and university use ... for the playing of ice hockey ..." ## **STRATEGIES FOR ACHIEVING OBJECTIVES** The strategy to develop and build an Ice Arena was completed in August 2019. The current strategy is for the Arena to be operated to a high standard for 35 years for the benefit of everyone in the Cambridge area. ## **ACTIVITIES FOR ACHIEVING OBJECTIVES** CLIC has engaged an experienced operator, Greenwich Leisure Limited, to operate the Ice Arena which opened to the public on 26 August 2019. ## **GRANT MAKING POLICIES** In line with its objectives and the Gattiker Bequest the charity will make from time to time, and when funds permit, a grant towards the running costs of the Cambridge University Ice Hockey Club. ## **MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT** CLIC operates within the Objects described within the Memorandum and Articles of Association, which outlines the type of public benefit sought. Public benefit has been achieved in all thematic areas described within the activity review for the current year. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. ## **ACHIEVEMENTS AND PERFORMANCE** ## **KEY FINANCIAL PERFORMANCE INDICATORS** Due to the COVID-19 pandemic, the Ice Arena was closed for much of the year to August 2021. During this time, the operator participated in the UK-government support schemes for which it was eligible and continued to pay the agreed Base Rent in full. Thus, income for the year matched budgetary expectation. Page 3 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 **CAMBRIDGE LEISURE AND ICE CENTRE** **(A Company Limited by Guarantee)** **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2021** ## **REVIEW OF ACTIVITIES** CLIC own the venue, next to the Park and Ride on Newmarket Road, Cambridge, alongside Marshalls airport. The Ice Arena is leased to a specialist operator, Greenwich Leisure Limited, for the remaining period of the associated lease for the land. Surplus rent received from the operator will be invested in ice-related educational experiences and sport development, as well as re-invested in the venue. COVID-19 regulations forced the closure of the Ice Arena for seven months of the year. When open, the facility provided ice skating to the community in accordance with the Charity’s objectives. ## **FINANCIAL REVIEW** ## **RESULT FOR THE YEAR** The Charity made a deficit for the year of £199,738 in line with expectations. At 31 August 2021 the Charity carried forward cash reserves of £157,097 which is insufficient to cover the final costs related to the construction of the Ice Arena. ## **RESERVES POLICY AND GOING CONCERN** The Trustees review the level of reserves required for the Charity, with the aim of maintaining them at the equivalent of three months of net operational expenditure (£5,000). At the year end the Charity had total reserves of £3,017,648. Of this £5,751,837 is represented by tangible fixed assets along with the associated borrowings of £2,658,525 and this is not freely spendable. The Charity therefore has negative free reserves of £75,664 (2020: £277,015) at the year end. The Charity is in discussions with South Cambridgeshire District Council to reschedule its loan repayments, which will lead to a more regularised reserves position in line with the policy referred to above. In future years the Ice Arena will generate rental income which will repair the reserves position over the lease period. Based on forecast results and ongoing cash requirements, this will provide adequate cash resources to enable the Charity to continue to meet its liabilities as they fall due for a period of at least twelve months from the date of signing of the financial statements and, accordingly, the financial statements are prepared on the going concern basis. The Trustees acknowledge that a material uncertainty exists which may cast doubt about the Charity's ability to continue as a going concern and that it may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include adjustments that would result if the Charity were unable to continue as a going concern. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Page 4 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** **(A Company Limited by Guarantee)** **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2021** ## **PRINCIPAL FUNDING** CLIC is a vehicle for administering the charitable bequest of David Gattiker, who left monies to the University of Cambridge in the early 1990s for the creation of a permanent ice Arena. Subsequently, donors have contributed to the Ice Arena Fund which includes the Gattiker Bequest. In 2017 funding contributions were negotiated with South Cambridgeshire District Council to provide a loan of £1.8m, made under a special prudential borrowing arrangement with the Public Works Loan Board. The initial loan was augmented in 2019 to £2.4m and drawn down during the year. The loan is currently repayable over the period to 2043. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **CONSTITUTION** The company is registered as a charitable company limited by guarantee and was incorporated on 19 August 2002 as the Cambourne Leisure and Ice Centre, changing its title to Cambridge Leisure and Ice Centre (CLIC) in 2005 to reflect the changed potential location of the facility under local authority guidance. The company is constituted under a Memorandum of Association dated 19 August 2002 and is a registered charity number 1097819. ## **METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES** The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The number of Trustees at any one time is always at least two. ## **POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES** Trustees have relevant knowledge of the Charity's aims and objectives. The Memorandum and Articles of Association are distributed to all trustees and efforts are made to provide up to date knowledge of the financial performance of the charity and obligations under charity and company law. ## **ORGANISATIONAL STRUCTURE AND DECISION MAKING** CLIC operates with a membership and trustees reflecting the University of Cambridge and the City of Cambridge. Key management personnel are considered to be the trustees/directors and they are not remunerated. ## **RISK MANAGEMENT** The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company and are satisfied that systems and procedures are in place to mitigate the charity's exposure to the major risks. ## **PLANS FOR FUTURE PERIODS** ## **FUTURE DEVELOPMENTS** The Trustees want to make sure that the Ice Arena works for everyone in the Cambridge area. The local community, particularly schools and youth groups, will be encouraged to make extensive use of the Ice Arena. Page 5 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** **(A Company Limited by Guarantee)** **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2021** ## **IMPACT OF COVID-19** During the financial year, the Ice Arena was closed in November 2020 and from January to June 2021. There has been no significant impact of COVID-19 on the Charity’s finances. ## **INFORMATION ON FUNDRAISING PRACTICES** The charity does not currently rely on fundraising as a major source of income nor does it employ or engage professional fundraisers. The charity does not usually receive funding from, or make applications to, trusts and foundations, nor does it receive public subsidies. This may change in future years. Should fundraising activities increase in the future, the charity is committed to avoiding any intrusive fundraising approaches and will never apply undue pressure to donate. ## **TRUSTEES' RESPONSIBILITIES STATEMENT** The Trustees (who are also directors of The Cambridge Leisure and Ice Centre for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they 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 these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting 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 operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and 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. This report was approved by the Trustees and signed on their behalf by: ## **Mr William Graham Trustee** 29 November 2021 | 11:22 GMT **Date:** Page 6 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** **(A Company Limited by Guarantee)** **INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 AUGUST 2021** I report on the accounts of the Charity for the period ended 31 August 2021, which are set out on pages 8 to 17. ## **RESPONSIBILITIES AND BASIS OF REPORT** As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. ## **INDEPENDENT EXAMINER’S STATEMENT** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: - accounting records were not kept in accordance with section 386 of the Companies Act 2006; or - - the accounts do not accord with such records; or - the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or - the accounts have not been prepared in accordance with the Charities SORP (FRS102). ## **MATERIAL UNCERTAINTY RELATED TO GOING CONCERN** I draw attention to note 1.2 in the financial statements, which indicates the funding conditions identified that cast significant doubt on the Charity’s ability to continue as a going concern. As stated in note 1.2, these events, along with the other matters as set forth in note 1.2, indicate that a material uncertainty exists that may cast significant doubt on the Charity’s ability to continue as a going concern. My statement is not modified in respect of this matter. ## **Michael Hewett ACA DChA** Peters Elworthy & Moore Salisbury House Station Road Cambridge CB1 2LA Date: 07 December 2021 | 09:50 GMT Page 7 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** ## **(A Company Limited by Guarantee)** ## **STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021** |**Note**
**INCOME FROM:**
Donations and grants
2
Charitable activities
3
Other income
4
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable activities
5
**TOTAL EXPENDITURE**
**NET (LOSS)/INCOME BEFORE TRANSFERS**
**TRANSFER BETWEEN FUNDS**
12
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**funds**
**2021**
**£**
**8,750**
**148,949**
**60,671**|**Restricted**
**funds**
**2021**
**£**

**-**
**-**

**- **|**Total**
**funds**
**2021**
**£**

**8,750**
**148,949**

**60,671**|Total
funds
2020
£

500

159,994

12,783

173,277

427,349

427,349| |---|---|---|---|---| ||
**218,370**|

**- **|

**218,370**|| ||
**418,108**|

**- **|

**418,108**

**418,108**

**(199,738)**
**-**

**(199,738)**

**3,217,828**

**3,018,090**|| ||
**418,108**|

**- **||| ||
**(199,738)**
**-**
**(199,738)**
**3,217,828**
**3,018,090**|

**-**
**-**

**-**

**- **||

(254,072)
-

(254,072)


3,471,900| |||

**-**||

3,217,828| The notes on pages 10 to 17 form part of these financial statements. Page 8 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** ## **(A Company Limited by Guarantee)** **BALANCE SHEET AS AT 31 AUGUST 2021** |**Note**
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors
9
Cash at bank and in hand
**CREDITORS:**amounts falling due within
one year
10
**NET CURRENT ASSETS/(LIABILITIES)**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS:**amounts falling due after
more than one year
11
**TOTAL NET ASSETS**
**CHARITY FUNDS**
Unrestricted funds
12
**TOTAL FUNDS**|**£**
**192,182**
**157,097**|


|**2021**
**£**
£
**5,751,837**
194,453
58,296
252,749
(671,714)
**(221,459)**
**5,530,378**
**(2,512,288)**
**3,018,090**
**3,018,090**
**3,018,090**|


|2020
£
6,041,932
(418,965)| |---|---|---|---|---|---| ||
**349,279**
**(570,738)**||||| ||||||| ||||||
5,622,967
**(2,405,139)**| ||||||3,471,900| ||||||
3,217,828| ||||||3,217,828| The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") relating to small companies and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf, by: ## **Mr William Graham Trustee** **Date:** 29 November 2021 | 11:22 GMT The notes on pages 10 to 17 form part of these financial statements. Page 9 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** **(A Company Limited by Guarantee)** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **1. ACCOUNTING POLICIES** ## **1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS** The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)) (second edition October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Cambridge Leisure and Ice Centre 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. ## **1.2 GOING CONCERN** The Charity had net current liabilities at the year end of £221,459. The Trustees have reviewed the ongoing cash requirements and concluded that, in order to meet their liabilities as they fall due, loan repayments will need to be deferred. The Charity is currently in rescheduling discussions, which are expected to result in an agreed settlement. Based on forecast results and ongoing cash requirements, this will provide adequate cash resources to enable the Charity to continue to meet its liabilities as they fall due for a period of at least twelve months from the date of signing of the financial statements and, accordingly, the financial statements are prepared on the going concern basis. As a result, the Trustees acknowledge that a material uncertainty exists which may cast doubt about the Charity's ability to continue as a going concern and that it may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include adjustments that would result if the Charity were unable to continue as a going concern. ## **1.3 COMPANY STATUS** The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. ## **1.4 INCOME** Donation and grant income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income from charitable activities represents rental income and is measured as the fair value of the consideration received or receivable. Lease incentives are allocated over the entire lease period. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. Page 10 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** **(A Company Limited by Guarantee)** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **1.5 EXPENDITURE** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Support costs are those costs incurred directly in support of expenditure on the objects of the company. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements ## **1.6 TANGIBLE FIXED ASSETS AND DEPRECIATION** Tangible fixed assets represents capitalised development costs for the Cambridge Ice Arena. Assets under construction are not depreciated until the asset is brought into use. Interest payable on loans used to fund construction costs are capitalised until the asset is brought into use. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Leasehold property - over the lease period Plant and machinery - 10-20 years Equipment - 5 years ## **1.7 INTEREST RECEIVABLE** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank. ## **1.8 DEBTORS** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.9 CASH AT BANK AND IN HAND** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 11 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **1.10 LIABILITIES AND PROVISIONS** Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. ## **1.11 FOREIGN CURRENCIES** Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of Financial Activities. ## **1.12 FINANCIAL INSTRUMENTS** The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **1.13 FUND ACCOUNTING** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## **2. INCOME FROM DONATIONS AND GRANTS** |Donations
Total donations and legacies
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
**8,750**|**Restricted**
**funds**
**2021**
**£**
**-**
|**Total**
**funds**
**2021**
**£**

**8,750**
|Total
funds
2020
£

500

500
| |---|---|---|---|---| ||**8,750**|
**-**|
**8,750**|| ||
-|
500|

500|| Page 12 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **3. INCOME FROM CHARITABLE ACTITIVIES** |Rental income – Ice Arena
Total 2020
|**Unrestricted**
**funds**
**2021**
**£**
**148,949**||**Restricted**
**funds**
**2021**
**£**
**-**|**Total**
**funds**
**2021**
**£**
**148,949**|Total
funds
2020
£

159,994| |---|---|---|---|---|---| ||
159,994|
|-|

159,994|

| ## **4. OTHER INCOMING RESOURCES** |**Unrestricted**
**funds**
**Restricted**
**funds**
**2021**
**£**
**2021**
**£**
Recharges
**10,651**
**-**
Compensation income
**50,000**
**-**
**60,651**
**-**
Total 2020

12,744
-
**ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2021**
**£**
**2021**
**£**
Development of Ice Arena
**418,108**
**-**
Total 2020

427,349
-|**Unrestricted**
**funds**
**2021**
**£**
**10,651**
**50,000**
**60,651**
12,744|**Restricted**
**funds**
**2021**
**£**

**-**

**-**

**-**|
|**Total**
**funds**
**2021**
**£**
**10,651**
**50,000**|


|Total
funds
2020
£
12,744
-| |---|---|---|---|---|---|---| |||||
**60,651**||12,744| |||

-||
12,744||
Total
funds
2020
£
427,349| |||||
**Total**
**funds**
**2021**
**£**
**418,108**||| ||
427,349|

-||427,349||| ## **5. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES** All the expenditure in the current and previous year related to support costs. Page 13 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **6. SUPPORT COSTS** |Professional fees
Insurance
Rent
Premises costs
Loan interest
Depreciation expense
Total 2020|**Activities**
**2021**
**£**
**5,598**
**2,339**
**8,143**
**-**
**111,434**
**290,594**
|**Total**
**2021**
**£**

**5,598**

**2,339**

**8,143**
**-**

**111,434**

**290,594**|Total
2020
£

9,414

15,089

8,016

520

103,723

290,487| |---|---|---|---| ||**418,108**|**418,108**|
427,349| ||
427,349|
427,349|

| ## **7. NET INCOME/(EXPENDITURE)** This is stated after charging: |Independent Examiner’s remuneration
Auditors' remuneration – audit
Auditors' remuneration - other services|**2021**
**£**
**750**
**-**
**6,630**|2020
£
750

-
5,914| |---|---|---| During the year, no Trustees received any remuneration (2020 - £NIL). During the year, no Trustees received any benefits in kind (2020 - £NIL). During the year, no Trustees received any reimbursement of expenses (2020 - £NIL). Page 14 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **8. TANGIBLE FIXED ASSETS** |**Leasehold**
**Property**
**Plant, machinery**
**& equipment**
**£**
**£**
**COST**
At 1 September 2020
**5,208,807**
**1,123,712**
Additions
**500**
**-**
At 31 August 2021
**5,209,307**
**1,123,712**
**DEPRECIATION**
At 1 September 2020
**206,972**
**83,615**
Charge
**206,980**
**83,615**
At 31 August 2021
**413,952**
**167,230**
**NET BOOK VALUE**
At 31 August 2021
**4,795,355**
**956,482**
At 31 August 2020
5,001,835
1,040,097
**9.**
**DEBTORS**
**2021**
**£**
Trade debtors
**50,011**
Prepayments and accrued income
**142,171**
**192,182**
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2021**
**£**
Loan from South Cambridgeshire District Council
**146,237**
Trade creditors
**108,559**
Accruals
**307,753**
VAT
**8,189**
**570,738**|**Leasehold**
**Property**
**Plant, machinery**
**& equipment**
**£**
**£**
**COST**
At 1 September 2020
**5,208,807**
**1,123,712**
Additions
**500**
**-**
At 31 August 2021
**5,209,307**
**1,123,712**
**DEPRECIATION**
At 1 September 2020
**206,972**
**83,615**
Charge
**206,980**
**83,615**
At 31 August 2021
**413,952**
**167,230**
**NET BOOK VALUE**
At 31 August 2021
**4,795,355**
**956,482**
At 31 August 2020
5,001,835
1,040,097
**9.**
**DEBTORS**
**2021**
**£**
Trade debtors
**50,011**
Prepayments and accrued income
**142,171**
**192,182**
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2021**
**£**
Loan from South Cambridgeshire District Council
**146,237**
Trade creditors
**108,559**
Accruals
**307,753**
VAT
**8,189**
**570,738**|**Leasehold**
**Property**
**Plant, machinery**
**& equipment**
**£**
**£**
**COST**
At 1 September 2020
**5,208,807**
**1,123,712**
Additions
**500**
**-**
At 31 August 2021
**5,209,307**
**1,123,712**
**DEPRECIATION**
At 1 September 2020
**206,972**
**83,615**
Charge
**206,980**
**83,615**
At 31 August 2021
**413,952**
**167,230**
**NET BOOK VALUE**
At 31 August 2021
**4,795,355**
**956,482**
At 31 August 2020
5,001,835
1,040,097
**9.**
**DEBTORS**
**2021**
**£**
Trade debtors
**50,011**
Prepayments and accrued income
**142,171**
**192,182**
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2021**
**£**
Loan from South Cambridgeshire District Council
**146,237**
Trade creditors
**108,559**
Accruals
**307,753**
VAT
**8,189**
**570,738**|**Leasehold**
**Property**
**Plant, machinery**
**& equipment**
**£**
**£**
**COST**
At 1 September 2020
**5,208,807**
**1,123,712**
Additions
**500**
**-**
At 31 August 2021
**5,209,307**
**1,123,712**
**DEPRECIATION**
At 1 September 2020
**206,972**
**83,615**
Charge
**206,980**
**83,615**
At 31 August 2021
**413,952**
**167,230**
**NET BOOK VALUE**
At 31 August 2021
**4,795,355**
**956,482**
At 31 August 2020
5,001,835
1,040,097
**9.**
**DEBTORS**
**2021**
**£**
Trade debtors
**50,011**
Prepayments and accrued income
**142,171**
**192,182**
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2021**
**£**
Loan from South Cambridgeshire District Council
**146,237**
Trade creditors
**108,559**
Accruals
**307,753**
VAT
**8,189**
**570,738**|

||**Total**
**£**
**6,332,519**
**500**
**6,333,019**
**290,587**
**290,595**
**581,182**
**5,751,837**
6,041,932
2020
£
46,250
148,203
194,453
2020
£
141,950
150,560
374,432
4,772
671,714| |---|---|---|---|---|---|---| ||||||
|| ||||**192,182**|||| ||||
**2021**
**£**
**146,237**
**108,559**
**307,753**
**8,189**|



||| ||||**570,738**|||| The loan incurs interest at 4.31% per annum and is repayable over the period to 31 March 2043. Page 15 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** |Loan from South Cambridgeshire District Council|**2021**
**£**
**2,512,288**|2020
**£**

2,405,139| |---|---|---| ||**2,512,288**|
2,405,139| The loan incurs interest at 4.31% per annum and is repayable over the period to 31 March 2043. ## **12. STATEMENT OF FUNDS** ## **STATEMENT OF FUNDS - CURRENT YEAR** |**STATEMENT OF FUNDS - CURRENT YEAR**|**YEAR**||||| |---|---|---|---|---|---| |**Balance at**
**1**
**September**
**2020**
**£**
**UNRESTRICTED FUNDS**
General Funds
**3,217,828**
Total of funds
**3,217,828**
**12. STATEMENT OF FUNDS - PRIOR YEAR**
**Balance at**
**1**
**September**
**2019**
**£**
**UNRESTRICTED FUNDS**
General Funds
**3,471,900**
**RESTRICTED FUNDS**
Ice Arena Fund
**-**
Total of funds
**3,471,900**|**Balance at**
**1**
**September**
**2020**
**£**
**3,217,828**|**Income**
**£**

**218,370**|**Expenditure**
**£**

**(418,108)**|
**Transfers**

**£**
**-**|
**Balance at**
**31 August**
**2021**

**£**
**3,018,090**

**3,018,090**

**Balance at**
**31 August**
**2020**

**£**

**3,217,828**

**-**

**3,217,828**| ||
**3,217,828**|


**218,370**|


**(418,108)**|**-**|| |||

**Income**
**£**

**172,777**|

**Expenditure**
**£**

**(427,349)**|
**Transfers**

**£**
**500**|| ||
**-**|

**500**|


**- **|**(500)**|| ||**3,471,900**|
**173,277**|
**(427,349)**|
**-**|| The Ice Arena Fund represented the value of the donations received to date less non-capital expenditure to date excluding Independent Examination and Audit costs. The Ice Arena was completed at the 2019 year end and the funds have been released to unrestricted funds as the restrictions on the income have been met. Page 16 DocuSign Envelope ID: 63EC1D8C-E5DB-43E1-9976-79BC6A97D704 ## **CAMBRIDGE LEISURE AND ICE CENTRE** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **13. 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 within more than one year
**YSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR**
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due within more than one year|**Unrestricted**
**funds**
**2021**
**£**
**5,751,837**
**349,279**
**(570,738)**
**(2,512,288)**
|**Restricted**
**funds**
**2021**
**£**

**-**

**-**

**-**

**-**
**-**
Restricted
funds
2020
£

-

-

-

-
-|**Total**
**funds**
**2021**
**£**
**5,751,837**
**349,279**
**(570,738)**
**(2,512,288)**
**3,018,090**
Total
funds
2020
£
6,332,519
252,749
(671,714)
(2,405,139)
3,217,828| |---|---|---|---| ||**3,018,090**||| ||
Unrestricted
funds
2020
£
6,041,932
252,749
(671,714)
(2,405,139)
||| ||3,217,828||| ## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR** ## **17. OPERATING LEASE COMMITMENTS** At 31 August 2021 the total of the Charity’s future minimum lease payments under non-cancellable operating leases was: |**AMOUNTS PAYABLE:**
Within 1 year
Between 1 and 5 years
After more than 5 years
Total|**2021**
**£**
**8,520**
**34,080**
**154,780**
**197,380**|2020
£
7,538
30,150
144,469
182,156| |---|---|---| ## **18. RELATED PARTY TRANSACTIONS** The Charity leases the land used for the development from Marshall Group Properties Limited, a Company controlled by the family of one of the Trustees, Mrs Sheila Marshall. Mrs Marshall resigned as a trustee on 1 October 2020. The rent charged in the year amounted to £8,143 (2020 - £8,016) and there was a balance due of £5,390 (2020 - £NIL) at the year-end as payments were deferred whilst the Ice Rink was closed. Page 17