REGISTERED COMPANY NUMBER: 04479074 REGISTERED CHARITY NUMBER: 1099941 Trustees. Report and Audited Financial Statements for the Year Ended 31 March 2025 Forniby Pool Trust Advance Audit Limited Slaknlory Auditor 71n3 Hoghlon Street S(xrthport Merseywde Rg OPR Fomiby Pool Trust Contents of the Financial Statements for the Year Ended 31 March 2025 Page Reference and Administrative Details Tru5tees' Report 2 10 4 Report of the Independent AudltoTs Staternent of Financial Activities Balance Sheet Cash Flow Statement 10 Notes to the Cash Flow Staternenl Notes to the Financial Statements 12 to 20 Fomiby Pool Trust Reference and Administrative Details for the Year Ended 31 March 2025 TRUSTEES O Edwards D Wilson CMPage S Crean J C ScoTgie P Adams CHBull H G Davies G Sidlow M Snaylam COMPANY SECRETARY S J Fletcher REGISTERED OFFICE EItM)w L￿e Formby Met5eygde L37 4AB REGISTERED COMPANY NUMBER 04479074 REGISTERED CHARrrf NUMBER AUDITORS Advance Audit Limited Statutory Auditor 71n3 Hoghtrjn Street Southpo Merseyside PR9 OPR Page 1 Fomiby Pool Trust (Registered number- 04479074) Trustees. Report for the Year Ended 31 March 2025 The trustees who are also direelors of the chanty for the purposes of the Companies Act 2Crf)6. present their report with the financial statements of the charty for the year ended 31 March 202?. The trustees have adopted the provisions of Accounting and Reporting by Charities- Slalement of Recommended Practice applicatle to charities preparing their accounts in accordanc8 with th8 Financial R8porb"ng Standard applicabl8 in the UK and R8public of Ir81and IFRS 1021 leffeclive 1 January 20191. OBJECTIVES AND ACTMTIES Objectives and aims Formby Pool Tnjst provides a swimming pwl. fitness facility and café in a park setting. We aim to be al the heart of the mmunity promoting the heallh. wellbeing and welfare of local people through the work we do. The Trust works in partnership wth Formby LarKI Trust as owners of the land and building and Sefton Metropolitan Borough Council which commissiois the services provided. The trust has 6 strategic objectives as ouuined ￿ the 2022-2027 strategy= > Delivering a firsl-class service. being the best Ihat we Can be > Developing our servi￿S and facilities to meet Ihe needs ol local people > Being al the heart of the Formby Communty > Being a good employer > Working towards environmental sustainability > Developing our services and faalities to meet Ihe need5 of local people ACHIEVEMENTS AND PERFORMANCE Charitable activities 2024125 has been a year with significant achievements. Delivering a firstible for assessing the charitable company's abilily lo continue as a going COn￿rn. disclosing, as applicable. matters related lo going concem and using the going concem basis of 8¢￿vnI1ng unless the trustees either intend to liquidate the charitsble company (K to cease operations. or have no realistic a￿ernatiVe bul to do so. Our r6sponsibiliti6s lor the audit of the financial SL￿ements Our objectives arè to obtain reasonable assurance a￿)ut whèther the finanoal stslements as a whole are free from material misslalcment, whether due to fraud or error. a￿1 lo issue a Report of the Indcpondent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, bul is T)ol a guarantee that an audit conducted in accordan￿ with ISAS (UK) will a￿vaYS deteGt a mateval misstalemenl wlEn Il exists. Misstatement5 can arise from IraL or error and are con&dered rnaterial if. individLally or in the agcregale. they could reasonably be expecled to influence the economic decisions of users taken on the basis of these financial statements. Enquiry of management and those charged with govemance around aclual and potential litigation and claims," Enquiry of entity staff in laK and compliance functions to identify any instances of non-compliance with laws and regulations., Reviewing financial statery*nl disdosures and testing to supportiw documentation to assess compliance with applicable laws and regulations. Performing audit work over the risk Df manasement override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of sicntficant transactions outside the nomial Gourse of business and reviewing accounting eslimales for bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading lo a material misstalemenl in Ihe financial statements or non-compliance with regulation. This risk Increases the more that compliancè with a law or regulalion is remcved from the events and transactions reflected in the financial stalemenls, as we will be less likety lo become aware of instarbces of non-(x)mpliance. The risk is also greater regarding irregularities oecurring due to fraud rather than error. as tra￿ involves inientional concealment, forgery. collusion, omission or misrepresentation. A further descripb'on of our responsibiltbes for Ihe audtt of the financial statements is located on the Financial Reporting Council's websile al wWw.frc.org.uklaLKlitorsre*￿slblliIle$. This dewiption fomis part of our Report of the Independent Auditors. Page 6 Report of the Independent Auditors to the Members of Fomiby P¢)ol Trust Usa of our report This report Is made solely to the chanlable companys members, as a body, in accordan￿ with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mvJhl slate to the charilabk companWs members those matters we are required to stale to them in an audilors. report for no other purpose. To the fullest extent permitted by law, we do not accept or assume reJFX)nsibility to anyone other than the charitable coryyany an¢J the charitable company's members as a body, for our audit wod(. for thi8 repL¥1. or for the opiniDns we have formed. Jennifer Tobin FCCA (Senior Statutory Auditor) foi and on behalf of Advan￿ Audit LimitL Slatulory Auditor 71173 Hoghton Street Soulhport Merseyside PR9 OPR 9 October 2025 Page 7 Fomiby Pool Trust Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2025 2025 2024 Totsl fund5 Unrestricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 200.1Y)O 227,741 Charitable activities Activities undertaken directly 2,465,749 2.081,790 Investment ineome Totsl 1,425 2,667,174 5,061 2,314,592 EXPENDITURE ON Charitable activities Activitias undortaken directly 2,589,673 2,383,716 NET INCOME1{EXPEND￿uREl 77.501 169,1241 RECONCILIATION £￿ FUNDS Total funds brought forward 154,555 223,679 TOTAL FUNDS CARRIED FORWARD 232,056 154,5SS The notes fomi part of UEse fttianual statements Page 8 Fomiby Pool Trust (Registered number- 04479074) Balance Sheet 31 March 2025 2025 Unrestricted funds 2024 Total funds Notes FIXED ASSETS Tangible assets 223,594 202,981 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 .146 165.278 173709 345.133 7,266 172.849 173353 353.468 CREDITORS Amounts falling due Milhin one year 14 1306,263) 1300,3771 NETCURRENT ASSETS 38,870 53,091 TOTAL ASSETS LESS CURRENT LIABILITIES 262.464 256,072 CREDITORS Amounts f811ing due after more than one year 15 13Q,408) 1101,5171 NET ASSETS FUNDS Unreslricled funds TOTAL FUNDS 232.056 18 232,056 232,056 154,555 154.555 These financl81 statements have been prepared in a{xordan￿ with the provisic¥)s applicable lo charitable companies subject to the small companies regime. The financial statements were approved by the Board crf Trustees and authorised for issue on 9 October 2025 and were signed on ils behalf by- D Edwards - Trustee D Wilson - Trustee The notes fomi part of UEse fttianual statements Page 9 Fomiby Pool Trust Cash Flow Statement for the Year Ended 31 March 2025 2025 2024 Notes Cash flows from operating xtivities Cash gen8ral8d from operations Interest paid Nel cash provided by operating activities 197.228 10,392 186,836 26,626 14,1701 12,456 Cash flows from Invgsllng actlvltles Purchase DI tangible fixed assets Interest received Nel cash US￿ in investing athities {109,853) 1,425 108,428 164,4181 5,061 59,3571 Cash flows from flnanclng adlvlties Loan repayments in year Capf(al repayments in year Net cash US￿ in financing activitie5 (60.000> 18.052 78,052 160,0001 15.2741 75.2741 Change in cash and cash ewivalents in the reporting period Cash and eash equivalents at the beginning of the reporting pèriod Cash and cash equivalents at the end of the reporting period 1122,1751 173,353 295,528 173,709 173,353 The notes fomi part of UEse fttianual statements Page 10 Fomiby Pool Trust Notes to the Cash Flow Statement for the Year Ended 31 March 2025 RECONCILIATION OF NET INCOMEI(EXPENDITURETr TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net Incomellexpendlture} for the reportlng perlod {as per the Statement of Flnanclal Actlvltles) Adlustments for. Depreciation charges Interest received Interest paid Decreasellincreasel in stocks Decreasellincreasel in debtors Increase in creditors Net cash provided by operations 77.501 169,1241 89.240 11.4251 10.392 1,120 7,571 12,829 197 228 91,809 {5.0611 14,170 (3,4251 173,4841 71,741 26.626 ANALYSIS OF CHANGES IN NET (DEBTIIFUNDS At 1.4.24 Cash flow At 31.3.25 Nèt eash Cash at bank and in hand 173.353 173,353 356 356 173709 173,709 Debt Firna￿e leases Debts falling due within 1 year Debts falling dLJe after 1 year 128.272) 160.0001 90.408 178.680 18,052 110,2201 160,0001 30,4081 100 6281 60.000 Total The notes fomi part of UEse fttianual statements Page11 Fomiby Pool Trust Notes to the Financial Statements for the Year Ended 31 March 2025 ACCOUNTING POLICIES Basls of preparlng the finan¢lal statements The financial statements of the charitable company. which is a Fub1￿ benefit enlily under FRS 102. have been prep￿ed in accordance thè Charits"es SORP IFRS 1021'ACC(￿ntlng and R8POrting by Chariti8s'. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Re?uNic of Ireland IFRS 1021 leffectwe 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applic2ble in the UK and Republic of Ireland, and the Cornpanies Act 2006. The finanaal statements have beer prepar￿1 under the historical cost convenb'on. Company status The charity is a cOmp￿Y limited by guaraT)tee. The merr&>ers of the company are the trustees named on page 1. In the event of the charity being wound up. Ihe Ik4bility in respect of the guarantee is limited to £1 per member of the charity. Incorne Ail income is recognised in the Slalemenl of Financial Actiwlies On￿ the charity has enlillemenl lo the funds. il is ob&le that Ihe income will be received and the amount be measured reliably. Revenue support grants are accounted kn as they become receivable. Gov•mm•nt grants Government grants are recognised at the fair value of the asset received or re￿Ivable when there is reasonable assurance that the grant conditions will be met and the grants wll be received. A grant that speciffies performance conditions is ￿CogniSed in income when the performan¢e condilions are met. Where a grant does not specify performance (x)nditions it is recognised in income when the prO￿edS are re￿[Ved or re￿1Vable. A grant received befi)re the recogT)ition criteria are satisfied is recognised as a liability. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligalitsn committing the charity to that expenditure, it is probable thal a transfer of economic benefits will be reqLJired in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified Ljnder headings Ihal ag Jregale all cosl related to the category. Where costs cannot be directly 8tttibuted to particular headings they have been allocaleé to activttie5 on a basis consistent wilh the use of reSoU￿s. Tangible fixed ass8ts Tangible fixed assets are initially measured at C05t and subsequently measured at cost or valuation, net of depr￿latIon and any impaimienl losses. DepreGiation is iecogrNsed so as lo wrile off Ihe cosl ￿ valuation of assets less iheir residual values over Iheir useful lives on the following bases= EquiFxnent- 500/0 011 Cost, 33Ya on cost and 25Yo ijn LX>St The gain or loss arising on the disposal of an a>set is detemiined as the difference between the sale proceeds and the carrying value ol the asset, and is uediled or charged to Fxofit or loss. Impairm&nt of fixed assets At each reporting period end date. Ihe charity reviews the carying amounts of ils tangible and intangible assets lo determine whether there is any indication that those assets have SLrffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order lo determine the extent of the impaimienl loss lif any). Where it is not tKJssible to estinate the recoverable amount of an individual asset, the (x)mpany estifflates Ihe recoverable amount of ts cash*neraling unst lo which the asset belongs. Page 12 continued... Fomiby Pool Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ACCOUNTING POLICIES - continued TangSble flxed assets Recoverable amount is the higher of fair value less costs lo sell and value in use. In assessing value in use. the 8Stimat8d futur8 cash flows ar8 discounted to th￿r presenl valu8 using a pre-tax discimjnl rat8 that refl8CtS CLYr8nl market assesswnents of the time value of money and risk5 specific to the asset for which the eslimales of future cash flows have not been adjusled. If the recoverable amount of an asset lor cash-generaling unill is estimated to be less than Its carrying amount, the carrying arnount of the asset (or &gsh-g2ner2bng unit) is reduced to its recoverable amount. An impairment loss is recocnised irnmedialely in profit or loss. urbless the relevant asset is carried at 8 revalued amount. in which Gase the impayment loss is treated as a revaluation decrease_ Recognised impairrnent losses are reversed rf. and onty if. the reasons for the irryaiTment loss have ceased to apply. Where an impaimient loss subsequently reverses. the carrying amount of the asset lor cash-generating unit} increased lo the revised estimate of tis recoverable amount. but so that the increased carrying amount does not exceed the carrwng a￿K)Unt that would have b￿￿ determined had no impairment loss beern recognised for the asset lor cash-generaling unit) in prior years. A reversal of an impairment loss is recognised immediately in profrt or loss, unless the relevant assel is ￿rried al a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Sto¢k$ Stocks are valued at the lower of cost and nel realisable value. after making due alOWan￿ for obsolete and slow moving items. Cash at bank and in hand Cash at bank and in hand are basic financial assets and include cash in hand and deposits held al call with banks. Financial Instruments The charity only has financial assets and finanLaal liabilith'es of a kind that qualify as basic finaneial instruments. Basic financial instruments a￿ initially ￿cogniSed at transacbon value and subsequently measured at their settlement value. Taxation The charity is exempl from Cor￿allOn tsx ￿ its Charitab￿ activibes. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the di5Grelion of the trustees. DesI￿ated funds eompnse unrestriete(t funds that have been sel aside by the IrusleÈs for particular purposes. The ain) and use ol the designated fun(J is set out in Ihe notes lo Uie finanoal siatements. Th8 charity do85 not have any r8stricted funds. Leases Rentsls applicable to operating leases where subslanbaly all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over.he period of the lease. Retirement beneffts The charitable company operates a defined contrilmjlion pension scheme. Conlribulions payable to Ihe charitable company's pension scheme are charged to the Statement of Financial Acts"Yilies In the period to which they rdale. Employae benefits The costs of 5hort-terrn employee beneffts are recognised as a Ih3bility and an expense, unless those ciY315 are required lo be recognised as part of the cosl of slock or fixed assets. Page 13 continued... Fomiby Pool Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ACCOUNTING POLICIES - continued Retlrement beneffts The cost of any unused holiday enlillement is recognised in the period in which the employee's seNices are r8c81V8d. Terminalh)n benefits are recognised immediately as an expense when the company is demonstrably committed lo lemiinate the ernployment of an employee or lo provide terminats.on benefits. Judgements and key sources of estimation uncertainty In the application of the charity's a¢¢ounting tKAi¢ies, the trustees are required lo make judgements. estimates and assumptions about the carrying amount ol assets and liab lities that are not readily apparent from other sources. The estimates and assouated assumptK)ns are based on historbcal experien￿ and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions lo accounting estirnates are recognised in the period in which Ihe estimate is revised where the revision affects only that period. or in the period of the ￿vIsion and future periods where the revisi￿ affects both cuirenl ané future periods. The trustees (k) not believe that there are any estimales and assumptions which have a significant risk of causing a malgrial adjustment lo the Catrying an￿llnt of assets and liabilities. Irrecoverable VAT AII VAT which can not be recovered due to parlial exemption regulations is shown within the appropriate expenditure headings in the Statement of Finanoal Acbvibes. Golng concern The &counls show a nel asset wsilion al 31 March 2025. Managernenl and the Board ol trustees have reviewed the current performance and prepared forecasts alongside setting achievable budgets for the next 12 months. The realisation of these forecasts may be affected by a number of factors outside their control affecting the charity and Ihe UK economy. Managemenl and Ihe trustees a￿ continuously assessing the imp￿1 of these factors on the charity and are reacb'ng and adapts.ng to everthanging working circumstances. For Ihese reasons, they conlinue to acopt the going c(ncem basis in preparing the financial statements. The financial statements do not irKlude any adjustments that would result from the basis of preparation being inappropriate. DONATIONS AND LEGACIES 2025 2024 Annual Fee Sefton MBC 200 000 227.741 Page 14 continued... Fomiby Pool Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 INVESTMETrTh INCOME 2025 2024 Bank interest receivable 5.061 INCOME FROM CHARITABLE ACTIVMES 2025 2024 Aclivity Aclivities undertaken directly Ackn"vrties undertaken diredy Activities undertaken diredy Activities undertaken d1￿C￿Y A￿vitieS undertaken directy Ackn"vities undertaken diredy Pool Income Car Park Income Go(￿$ for Res81e Café and Events Grant Income Miscellaneous Income 2,156.478 4,515 30.509 208.771 57,906 7,570 2 465 749 1,910,459 3,249 28,052 139.576 454 2 081 790 CHARITABLE ACTIVITIES COSTS Direct Cosls (see note 61 Support costs Isee note 71 Totsls Activitses undertaken direcuy 2.570.756 2 589 673 DIRECT COSTS OF CHARITABLE ACTIVMES 2025 2024 Staff costs Freelance instructors Rates and water Insurance Light and heat Telephone Postage and ststionery Advertising Sundries Repairs, Maintenance and Equipment Equipment Rental Chapel Lane costs Cleaning IT Support, Hardware and Software Provisions Recruitment and Training Consultancy and Professional Fees Finan￿ Charges Security Rent Depreciation 1,175.375 131,924 69.769 111,470 181,025 1.939 9,692 13,627 33.205 297,514 9.032 1.007,433 121,910 61.389 106,323 257.413 5,897 11,436 16,291 31,339 257,289 14.398 6.037 33,725 58,462 86.529 12,618 38,228 63.955 18,606 60,959 91.809 2 362 046 33.871 67,098 127.611 16.600 44.765 76.082 15.212 65,705 89.240 2 570 756 Page 15 continued... Fomiby Pool Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 SUPPORT COSTS Govemance costs Activities undertaken directy Support costs, included in the above. are as follows". Govemance costs 2025 Actiwties undertaken directly 2024 Total activitigs Auditors. remuneration Bank inleresl 8,525 10,392 7.S)O 14,170 NET hYCOMEIIEXPENDITUREI Nel income l {expenditurel is stated after chargirKJ I Icrediting}'. 2025 2024 Audilor5' retnuneration Depreciation 8,250 89,240 7,500 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for Ihe year ended 31 Marth 2025 nor for the year ended 31 March 2024. Trust￿$. expgnses There were no trustees. expenses paid fr)r the year ended 31 March 2025 nor for the year ended 31 March 2024. 10. STAFF COSTS 2025 2024 Wages and salaries S￿131 security costs Other pension costs 1.101.334 58.624 15.417 1 175375 943,896 49,455 14.082 1007 433 Page 16 continued... Fomiby Pool Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 10. STAFF COSTS- continued The average monthly number of employees during the year was as follows.. 2025 93 2024 76 Pool, Gym and Cafe Maintenance Admin Man￿eMent 12 116 No employees received emoluments in excess of £60.IXIO. 11. TANGIBLE FIXED ASSErs Equiprnenl COST At 1 April 2024 Additions Di5P05a15 At 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year Eliminated on disposal Al 31 March 2025 NET BOOK VALUE Al 31 March 2025 Al 31 March 2024 825,961 109,853 3651 935,449 622,980 89,240 711,855 223.594 202 981 12. STOCKS 2025 2024 Stocks 13. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors VAT P￿￿YMentS and accrued income 66.671 130,903 5.781 36.165 172 849 98.607 165278 Page 17 continued... Fomiby Pool Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 14. CREDITORS: AMOUF￿ FALLING DUE wrfH14 ONE YEAR 2025 2024 Bank loans and overdrafts (see note 16) Hire purcha58 Is88 not8 17) Trade creditors Social security and other taxes VAT Other creditors Accruals and deferred income 60.000 10.220 92,022 30.121 5,202 4,840 103.858 306 263 60.000 17,163 157,672 12,503 28,664 24,375 300 377 15. CREDITORS: AM0UP￿s FALLING DUE AFTER MORE THAN ONE YEAR 2025 2024 Bank loans Isee note 161 Hire purchase (see note 17) 30.408 90,408 11.109 101 517 16. LOANS An analysis of the maturity of bans is given b81ow- 2025 2024 Amounts falling due within one year on demand.. Bank loans Afflounts falling due btheen two and five year5: Bank loans - 2-5 years 90.4)8 17. LEASING AGREEMENTS Minimum lease payments fall due as follows: Hire purchase contracts 2025 2D24 Nel obligations repayable.. Within one year Between one and five years 10.220 17,163 11,109 28,272 operating leases 2024 Nofveaft￿llab1e 2025 Within one year Between one and five years 4.708 2.078 4,708 Page 18 continued... Fomiby Pool Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 18. MOVEMENT IN FUNDS CakNtal expenditure paid oul of development fund N8t ovement in funds Transfers belwee lunds Al 01.04.24 At 31.03.25 Unrestricted fund$ General fund Development fund TOTAL FUNDS 154.555 71,501 232.056 154.555 77.501 232.056 Net movement in funds. induded in the above are as folltY+VS.' Incoming resources Resources expellded Movement In funds Unrestricted funds General fund TOTAL FUNDS 2,667.174 2,667.174 2.589.673} 2 589 673} 77.501 Comparatives for movement in funds Caprtal expenditure paid out of development fund Nel movement in funds Tran5fer5 be￿een funds At01.04.23 At 31.03.24 Unrestrlcted lunds General fund Development ILJnd TOTAL FUNDS 199,255 24.424 223,679 169,124) 24,424 24.4241 154,555 69,124 154,555 Nel rnovem8ril in fund5. InGluded in the above a5 ftAI(Y+VS." Incoming resou￿5 Resources expended Movetnent In funds Unrestricted funds General fund TOTAL FUNDS 2.314.592 2,314.592 2,383,T16} 2,383,716} 69,1241 69 1241 Page 19 continued... Fomiby Pool Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 19. RELATED PARTY DISCLOSURES Fomiby Pool Trust are part of a trFparty agreen*nt together wilh Fom)by Land Trusl and Sefton MBC to enable the operation of the leisure centre. FoTmby Land Trust own the lanij and building within which Formby Pool Trust operates the ￿lsure centre. The larhd and building are leased under Ihe terms of 2 lease contained vthhin the Operating Agreement and there is a representslive of Formby Land Trust on the Formby Pod Trust board of trustees. Rent lolalling £5,000 was charged lo prufit and bss during Ihe ye*12024.. £5.(M)O>. Sefton M8C provide Formby P(Kl Trust with an annual fee contribution towards the operation of the leisure centre. Sefton MBC provides a Sinking Fune which is ac￿SSed for Lrfecycle maintenance and building requirements at the leisure cenlre. There are 0￿inanIY two representattves of Sefton MBC on the Fomiby Pool Trust board of tmstees. During the 2017 year end the operating agreement was renewed with Sefton MBC and a new len year lease was agreed and S￿ned. annual fee contribution has been agreed which provides a ffinancial subsidy linked with RPI. Fom)by Pool Trnst rwived an Annual Fee contribution frrm seft￿ MBC of £200,CKJO12024.' £227,741) under the terms of the Operating Agreement and £180.33312024.' £288.7651 was accessed in relation lo Lifecycle works paid for out of the Sinking Fund. Al the year end £65.321 (2024.. £130.4931 was due from Sefton Council in respect of Lifecycle works. Fotmby Pool Trust paid Sefton MBC £8.15412024.. £7,003) for Wdste removal and security servi￿5 and £6,753 12024.. £6,432) for general rates. At the year end an arnount of £512 12024: £9201 was due to Sefton M8C in respect of the above reGharges. In an earlier year, Formby Pod Trust 4reed to provide a eontribution in relation lo equipment lo Formby Land Trust following completion of extengon during 2019120. The totsl contribution was £60,000 of which the final £24.9DO was paid within the 2024125 financial year. Page 20 This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic forni, authentication and manner of delivery under section 1072 of the Companies Act 2006.