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 30 SEPTEMBER 2023
CAMBRIDGE LEISURE AND ICE CENTRE
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 - 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 - 10 |
| Notes to the Financial Statements | 11 - 19 |
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 30 SEPTEMBER 2023
| Trustees | Mr William Graham |
|---|---|
| Professor Bill Harris, Chairman | |
| Ms Karen Kennedy | |
| Company registered number 04514436 Charity registered number 1097819 Registered office Salisbury House 2-3 Salisbury Villas Cambridge CB1 2LA Company secretary Mr William Graham Accountants Michael Hewett FCA DChA Peters Elworthy & Moore Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA Bankers Barclays PLC 9-11 St Andrew's Street Cambridge CB2 3AA Solicitors Mills & Reeve Botanic House 98-100 Hills Road Cambridge CB2 1PH |
Page 1
CAMBRIDGE LEISURE AND ICE CENTRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023
The Trustees present their annual report together with the financial statements of the company for the period 1 September 2022 to 30 September 2023. 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
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.
Page 2
CAMBRIDGE LEISURE AND ICE CENTRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
FINANCIAL REVIEW
RESULT FOR THE PERIOD
The Charity made a deficit for the period of £275,720, in line with expectations.
At 30 September 2023 the Charity carried forward cash reserves of £32,061.
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 (£46,000). At the period end the Charity had total reserves of £2,389,189. Of this £5,003,833 is represented by tangible fixed assets along with the associated borrowings of £2,704,016 and this is not freely spendable. The Charity therefore has negative free reserves of £89,372 (2022: negative £88,529) at the period end.
During the period the Charity completed discussions with South Cambridgeshire District Council to reschedule its loan repayments, which have contributed 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 maintain 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.
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 period. The loan is currently repayable over the period to 2043.
Page 3
CAMBRIDGE LEISURE AND ICE CENTRE (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
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 three.
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.
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.
Page 4
CAMBRIDGE LEISURE AND ICE CENTRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Professor Bill Harris Trustee
Date:
Page 5
CAMBRIDGE LEISURE AND ICE CENTRE (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CAMBRIDGE LEISURE AND ICE CENTRE ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 30 September 2023.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the Company (and its directors 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 under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts 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 respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 6
CAMBRIDGE LEISURE AND ICE CENTRE (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed: Dated: Michael Hewett FCA DChA
Peters Elworthy & Moore Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA
Page 7
CAMBRIDGE LEISURE AND ICE CENTRE
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Note INCOME FROM: Investments 2 Other income 3 TOTAL INCOME EXPENDITURE ON: Charitable activities TOTAL EXPENDITURE NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds 2023 £ 610 195,550 196,160 471,880 471,880 (275,720) 2,664,909 (275,720) 2,389,189 |
Total funds 2023 £ 610 195,550 196,160 471,880 471,880 (275,720) 2,664,909 (275,720) 2,389,189 |
Total funds 2022 £ 45 186,140 |
|---|---|---|---|
| 186,185 539,366 |
|||
| 539,366 (353,181) 3,018,090 (353,181) |
|||
| 2,664,909 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 11 to 19 form part of these financial statements.
Page 8
CAMBRIDGE LEISURE AND ICE CENTRE (A Company Limited by Guarantee) REGISTERED NUMBER: 04514436
BALANCE SHEET AS AT 30 SEPTEMBER 2023
| Note FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 NET CURRENT LIABILITIES / ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: amounts falling due after more than one year 10 TOTAL NET ASSETS CHARITY FUNDS Restricted funds 11 Unrestricted funds 11 TOTAL FUNDS |
162,580 32,061 194,641 (250,925) |
2023 £ 5,003,833 5,003,833 (56,284) 4,947,549 (2,558,360) 2,389,189 - 2,389,189 2,389,189 |
235,936 59,044 294,980 (276,451) |
2022 £ 5,289,757 |
|---|---|---|---|---|
| 5,289,757 18,529 |
||||
| 5,308,286 (2,643,377) |
||||
| 2,664,909 - 2,664,909 |
||||
| 2,664,909 |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
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 have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
Page 9
CAMBRIDGE LEISURE AND ICE CENTRE (A Company Limited by Guarantee) REGISTERED NUMBER: 04514436
BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2023
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Professor Bill Harris Trustee
Date:
The notes on pages 11 to 19 form part of these financial statements.
Page 10
CAMBRIDGE LEISURE AND ICE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
1. ACCOUNTING POLICIES
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements 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), 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 Trustees continue to review the ongoing cash requirements in order to meet their liabilities as they fall due. The Charity has completed rescheduling discussions, which have resulted 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 have been prepared on the going concern basis.
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 11
CAMBRIDGE LEISURE AND ICE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
1. ACCOUNTING POLICIES (CONTINUED)
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 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.
1.7 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
1.8 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 12
CAMBRIDGE LEISURE AND ICE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
1. ACCOUNTING POLICIES (CONTINUED)
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 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.
1.12 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.
2. INVESTMENT INCOME
| Unrestricted funds 2023 £ Bank interest receivable 610 TOTAL 2022 45 |
Total funds 2023 £ 610 45 |
Total funds 2022 £ 45 |
|---|---|---|
Page 13
CAMBRIDGE LEISURE AND ICE CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
3. OTHER INCOMING RESOURCES
| Recharges Rental income TOTAL 2022 ANALYSIS OF EXPENDITURE BY ACTIVITIES Ice Arena TOTAL 2022 |
Unrestricted funds 2023 £ 16,897 178,653 195,550 186,140 Support costs 2023 £ 471,880 539,366 |
Total funds 2023 £ 16,897 178,653 195,550 186,140 Total funds 2023 £ 471,880 539,366 |
Total funds 2022 £ 15,107 171,033 |
|---|---|---|---|
| 186,140 | |||
| Total funds 2022 £ 539,366 |
|||
4. ANALYSIS OF EXPENDITURE BY ACTIVITIES
Page 14
(A Company Limited by Guarantee)
CAMBRIDGE LEISURE AND ICE CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
4. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF SUPPORT COSTS
| Professional fees Insurance Rent Premises costs Loan interest Depreciation expense TOTAL 2022 |
Activities 2023 £ 40,196 18,433 9,531 - 117,017 286,703 471,880 539,366 |
Total funds 2023 £ 40,196 18,433 9,531 - 117,017 286,703 471,880 539,366 |
Total funds 2022 £ 65,740 16,621 9,206 27,903 124,854 295,042 |
|---|---|---|---|
| 539,366 | |||
| 5. | INDEPENDENT EXAMINER'S REMUNERATION | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the Company's independent examiner in respect of: | |||
| Independent examination of the annual accounts | 900 | 750 | |
| Other services | 7,080 | 7,395 |
6. TRUSTEES' REMUNERATION AND EXPENSES
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 30 September 2023, no Trustee expenses have been incurred (2022 - £NIL).
Page 15
CAMBRIDGE LEISURE AND ICE CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 7. TANGIBLE FIXED ASSETS COST OR VALUATION At 1 October 2022 Additions At 30 September 2023 DEPRECIATION At 1 October 2022 Charge for the year At 30 September 2023 NET BOOK VALUE At 30 September 2023 At 30 September 2022 8. DEBTORS DUE WITHIN ONE YEAR Other debtors Prepayments and accrued income |
Freehold property £ 5,042,269 780 5,043,049 618,412 204,084 822,496 4,220,553 4,423,857 |
Plant and machinery £ 1,123,712 - 1,123,712 257,812 82,620 340,432 783,280 865,900 2023 £ 15,800 146,780 162,580 |
Total £ 6,165,981 780 |
|
|---|---|---|---|---|
| 6,166,761 | ||||
| 876,224 286,704 |
||||
| 1,162,928 | ||||
| 5,003,833 | ||||
| 5,289,757 | ||||
| 2022 £ 82,136 153,800 235,936 |
Page 16
CAMBRIDGE LEISURE AND ICE CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Loan from South Cambridgeshire District Council Trade creditors VAT Accruals |
2023 £ 145,656 3,308 9,937 92,024 250,925 |
2022 £ 70,000 92,671 - 113,780 |
|---|---|---|
| 276,451 |
The loan incurs interest at 4.31% per annum and is repayable over the period to 31 March 2043.
10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Loan from South Cambridgeshire District Council | 2,558,360 | 2,643,377 |
The loan incurs interest at 4.31% per annum and is repayable over the period to 31 March 2043.
Page 17
CAMBRIDGE LEISURE AND ICE CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 11. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR UNRESTRICTED FUNDS General Fund STATEMENT OF FUNDS - PRIOR YEAR UNRESTRICTED FUNDS General Fund |
Balance at 1 October 2022 £ 2,664,909 Balance at 1 September 2021 £ 3,018,090 |
Income £ 196,160 Income £ 186,185 |
Expenditure £ (471,880) Expenditure £ (539,366) |
Balance at 30 September 2023 £ 2,389,189 |
|---|---|---|---|---|
| Balance at 30 September 2022 £ 2,664,909 |
Page 18
CAMBRIDGE LEISURE AND ICE CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
12. OPERATING LEASE COMMITMENTS
At 30 September 2023 the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years |
2023 £ 11,041 38,272 153,885 203,198 |
2022 £ 8,655 34,620 147,856 |
|---|---|---|
| 191,131 |
The following lease payments have been recognised as an expense in the Statement of Financial Activities:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Operating lease rentals | 9,531 | 9,206 |
13. RELATED PARTY TRANSACTIONS
The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 30 September 2023.
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