REGISTERED COMPANY NUMBER: 04809606 (England and Wales) REGISTERED CHARITY NUMBER.. 1102460 REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR MYTIMEACTIVE
MYfiME ACTIVE CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Truslèe8, Includlng strateg1¢ report 1.12 Refèrence and admlnistrative detalls of the Charitable Company, Ils Trustees and advlsors Slructurei govèrnance and management Oblectlves and actlvltlès Strategi¢ report 3-12 . Achlevement and performance Flnanclal revlew 9-11 Plans for future periods 12 TNstees rèsponslbllltles 13 Report of the Independent audltors 1*16 Consolidated Stalèment of Flnanclal Activlties Ilncorporatlng an Income and Expènditure Account) 17 Consolidated Balance Sheet 18 Company Balance Sh66t 19 Consolldated Cash Flow Statement 20 Notès to the Con$olidatèd Cash Flow Statement 21 Notes to the Con$olidated Flnanclal Statements 22.41
MYfiME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, are also directors of the Charilabl8 Company for Ihe purposes of Ihè Companies Act 2006, present Iheir report, which includes their strategic report, vilh the consolidated financial slalements of the Charitable Company and thè Group lor the year ended 31 March 2024. The Trustees have adopted th8 provisions of the Slalemenl ol Recommended Practice ISORPI IFRS102} 'Accounling and Reporting by Charities, effective 1 January 2019. REFERENCE AND ADMINISTRATIVE DETAILS Règlsterèd Company number 04809606 (England and Walosl Reglstered Charlty number 1102460 Registered offlce High Elms Goll Course High Elms Road Downe Orpington BR6 7JL Place of Buslness l Head offlce Crofton Halls, York Rise Orpington BR6 8PR The Charitable Company and Group cairies out ils operations al multiple siles. For information on the siles where the Charitable Company and Group operates please visit the mlMe Active website al http'.Ilfft.mytimeaciive.co.uk. Tru$tee8 R J Evans l M Gowan (Chairl Aoag S Kirkland J King C Dougla5 C Kettle S Mulhere N Rabbou J Shakespere J Nickson C Briggs M Crichton Resigned 29 April 2024 Appointed 2 October 2024 Appoinled 2 October 2024 Chlèf Executlve J Stanton Company Secretary E Drzazga Audllors Mccabe Fofd Williams Building1063 Cornforth Drive Kent Sciènce Park Sittingbourne Kenl ME9 8PX Sollcltors Blake Moigan Apex Plaza. Forbury Road. Reading. RG11AX Cripps LLP, 23 Kings Hill Avenue, Kings Hill, Kent ME19 4UA Clarkson, Wright and Jakes, Valiant House, 12 Knoll Rise, Orpington, Kent, BR6 OPG Page1
MYTIME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The organisalion is a Company limited by guarantee, incorporated on 24 June 2003 and registered as a Charily on 3 March 2004. The Charitable Company was established under a Memorandum of Association which establishèd the objects and powers of the Chantable Company and is governed under ils Articles of Association. Recruitment and appolntment of new trustees In exercising ils powers lo nominate, appoint, feappoinl, elect, re-eleGI, approve and dismiss Trustees, Ihe Trustees shall seek lo ensure that the Board comprises persons with a broad range ol skills who are likely lo wnlribule lo Ihe Charity's success. Subject lo the abov8, the London Borough of Bromley may nominate for consideration two Truslees for appoinlmenl. Inductlon and training of new trustees Trustees follow an induction and familiarisalion programme as reqltired and allend dèvelopment sessions lo ensure they hav8 the knoedge lo carry out their responsibilities. Organlsallonal structure The Board of Trustees ol up 1012 peoplè, who meet at least quarterly, have delegal8d th8 responsibility of administering (he Charity lo a management team. This management team up lo 31 March 2024 was made up as follows.. Jason Slanlon Nèil Whit6hand Nigel Court Steve May Rhona Mason Kelly Stead Chièf Executive Finance Director Operations Director {Resigned Augusl 20231 Operations Director {Appoinled May 20241 HR Director Commercial Direclor {Appoin18d April 20231 Remuneratlon of Key Management Personnel Thè main Board has established a romuneralion committee lch meets annually lo review and approve the selling ol execuiive pay. Worklng Partnerships The Charilablè Company has a close relalionship w+lh all Ihe local auihorili9s, who contract the company lo operate leisure, goll and Heallh services across the couniry. Relaled partles The Charitable Company owns 1000/0 ol the ordinary issued share capital of Mytime Entèrprises Limited. Myb'me Active has taken advantage of the exemption afforded under para9raph 33-1A ol FRS102 regarding disclosure ol Iransaclions and balances with ils wholly owned subsidiary, Mytime Enterprises Limited, when pièparing these financial slalemenls. Rlsk management The Trustees recognise risk management as one ol their key responsibilities, Risks are identified and recorded in the Charitable Company's risk regisler logeth6r with the controls and actions designed lo miligale them. Idèntified iisks are rewewed quarterly and appropriate action taken where necessary. Page 2
MlME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 Objèctlvès and alm$ The objects of thè Charitable Company are.. To provide or assist in Ihe provision of facilities and services lor the benefit ol the community for recreational, sporting or other leisure lime occupation in the interests ol social welfare, such facilities being provided lo the public al large save that special facilities may be provided lor persons who by reason of their youth, age, infirmity or disabilily. povety or social or economic circumstances may have need of special faGililies and services., andlor To promole and preserve good health, healthy livin9 and well-being., andlor To advance public education by thè encouragement ol culture and the arts. andlor To promote and advanGg the education of Ihe public al large in the advantages of heallhy and aclive lileslyles including the benefit ol a balanced diet; 8ndlor To provide support services relating to the above., andlor To provide consultancy, support services and advice lo public, sporting and chaiilable or9anisalions', andlor To carry out such olher charitable purposes beneficial lo the community consistent with the objects above as the Trustees shall in their absolute discretion determine. The Truslees confirm that they have complied wlh the duly in Seclion17151 ol the Charities Act 201110 have due regard lo the Charily Commission's general guidance on public benefil. The Trustees have referred lo the guidance in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our lulure aclivilies. In particular, the Tiuslees consider how planned aclivilies will contribute to the aims and objectiv8s they have sel, The benefit lo the public ol the company achieving ils aims is in contributing lo the recreation, leisure and Health SeiceS of the communily. STRATEGIC REPORT ACHIEVEMENT AND PERFORMANCE Chalr and CEO statemènt STRATEGY In 2023 w8 published our three.year strategy, Our Why, How and What to 2026 and Beyond, which we summarise below'.- Our Why?~ get morè out of Ilfel Our Stialegy is based on our simple core belief,. we want everyone lo Get More out of Ilfè and in turn improve thè wellbeing of the communilies in which w6 operate. For us that means being active, exercising and eating well, as well as feeling positive and being part of good social networks. All ol this conlribules lo a feeling ol wellbeing and lo us all living longe¥, heallhieT and happier lives. #Mlssionwellbeing Our HOW? - the integrated approach We will operate an inlegraled approach, thich will enable Ouf members lo access all our services al all poinls of contact, eithèr in person or digilally through our Wèllbeing Hubs. The Hub's purpose is lo provide support and guidance lo all our members by ensuring Ihey are signposted lo one of our programmes and services Ihal is most suited lo improving their physical and mental heallh. Our WHAT? - what we offer, Our Products, Servlces and Facllltles We will deliver programmes and products based on driving community wellbeing. Wherever possible our programmes are tailored to maximisg the impact they have on our members wellboing through our lour pathways.. being actlve, eatlng w811, thlnking positivèly and being together. Strategy update We havo now comp16ted the first year oflhe above strategy and can demonslrale how wè have implemented Ihe slralègy below Lgsing an example ol a children's s¥Mmmin9 lessons.. - Be Actlve.. Ihis is achièved through the acliwly ilsell Eat Well.. after the lesson. healthy opt¢ons are available lo help in making an informed choice Page 3
MYTIME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT ACHIEVEMENT AND PERFORMANCE (contlnuedl Chalr and CEO statement Icontlnuedl Be Posltlve.. we seek lo celebrate publicly the child's achievemènt on the successlul completion ol each stage of the programme Be Together., the child has made friends during the progiamme, and we seek lo build on the social elemenl of the programme by inviting the wholè swmming lesson attendees lo regular social events. This reinlorces and aCknoedgeS the relationships Ihal have been built Ihrough the programmes We are pleased lo report we sel up a wèll bèing hub, One Bromley Health Hub in partnership wlh the NHS where services such as Ihe vital 5 health checks and slop smoking progiams are delivered. Further details are included latèr in the report. We have three major organisalional goals. 1. Improve the Wèllbèlng In Our Corè Communltles {Members Personal Wellbeing Factor Is >5Qlo than Non.Member$l We know that improving the wellbeing in our core communities is a key measure of our success. Any claims we make musl be supported by evidencè. This will in turn provide consumers, cli8nls and commissioners confidence and supply valuable information for us so we can learn and improve, as well as making informed commercial decisions on inveslmenl. We have adoptèd the personal measur6 01 wellbeing used by the Office of National Slalislics, based on 4 self-reported questions. This benchmark rneasure allows us lo compar8 national, regional and local statistics alongside results from our members and our progiamm8s. For 23124 we achieved a score of 34, versus a bènchmark 0122. We intend lo undertake indèpèndent research lo underpin our achievements against this goal. In addition lo our members, we will also seek lo improvè the wellbeing ol our employees. We wll adopl and ulilise thè samè benchmarks. indicalors and process for that ol our members as lor our èmployees. 2. Employee Engagement Score (ln thè Upper Quartlle, with a score of 75) Our Wellbeing Mission is centred on our members, which is impossiblè to deliver wlhoul our leams being lully engaged and feelin9 Ihal they are playing an integral role in achieving our Mission. In a sector wlh generally low pay and high turnover, our Mission is lo attract and relain great employo6s who want lo be part ol our journey and are inspired by our Mission. We wll continue lo monilor employee engagement through regular independent anonymous surveys. For 23124 we achievèd an employee engagemenl score ol 20, versus a target of 50. 3. Dellver a Sustalnable EBITDA IBetween £1.2m to £1.5m) As a social enterprise and registered charity, we need lo ensure our finances are stron9 and suslainable. We see our challenge as being able to maintain our EBITDA al a sustainable level during a period of Ghallenge and consolidation. We remain focused on making the existing business secure, growing organically and piofilably, whilst managing the risks ol those conlracls or siles, which are scheduled lo expirè, close or be redeveloped. For 23124 we achieved an EBITDA of £1.9m. ACHIEVEMENTS and PERFORMANCE Social Value As part ol our mission lo improve the wellbeing of all the communities we serve, we conlinue lo work with a wide range of local, regional and national organisalions along charities lo increase our reach and ensure our facilitiès and programmes aro appropriate and accessible. To increase our impact on improving wellbeing we secured ovèr £351 k ol external funding lo support the delivery ol several proje¢ts, including the One Bromley Wellbeing Hub, NHS heallh checks, Changing Places and ArtsTrain. This included new partneeships wlh the local inlegraled health board. Details are highlighted below. We continue lo dèlivei a range of health piogrammes, including Heartsmart, Fresh Start and Escap& Pain for people who are inactive and who have a range of medical conditions, including hoart lailure, cancer and diabetes. Through these long standing, effective progiammes we ar8 seèn as a liusled and credible partnef lo the Soulheasl London Inlegfated Care Board. As a result, One Bromley, the Local Care Partnership invited us lo join a rkIng group lo support the development of a One Bromley Wellbeing Hub in the Glades shopping centre in Bromley. The centre is a one slop shop for lifestyle advicè, wlh the aim of iackling the 5-leading courses ol poor health in Bromley- blood pressure, alcohol use, smoking, mental health, and nulrilion I healthy weight. The seN¢e is open and we offer free Vital 5 Lifestyles Advice and provide day-to-day management of the Hub. Page 4
MYfiME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT ACHIEVEMENT AND PERFORMANCE {contlnuèd} Chalr and CEO statement (continued) Social Value (continued) We successfully bid lo deliver NHS Health Checks lo Bromley Council Staff and offered 425 NHS health checks between July to October 2023. Seven members ol Myiime Activ6 Exercise Referral trained staff completed specialist training lo support the delivery of the NHS health checks. This feedback from one ol the hèalth check recipients epilomised the positivé comments we received °Very relaxed bul professional health check. Very well oxplained and has molivaled me lo make changes and improve my overall hèallh & filnes5." We Worked closely with Bromlèy Coltncil lo in51all two Changing Places for people with complex needs and disabilities. Wilh external funding secured by Bromley Council, the changing places were installed al the Pavilion Leisure Centre and Biggin Hill Pool & Library. The lacililies are fully accessible during our opening hours seven days 8 week lor people wlh complex needs. We successfully applied to Arts Council England lor three years ol funding lo 2026,10 continue our National Porifolio organisalion dèlivery of ArtsTrain. Highlights of our lirsl year of delivery included: performances by our ArtsTrain Academy young people al the London Jazz Festival, Bromley Library Lales and High Streets for All events; ArtsTrain delivery lo several schools and ommunity groups across Bromley and Bexley, weeklyArtsTrain Academy sessions delivered al the Churchill Theatrè in Bfomley and the Exchange in Bexley. To impiove the governance ol ArtsTrain we successlully established an ArtsTrain Steering Group, with membeis from a range of organisations, including BroJnley Council and the Music Educations Hubs conlribuling lo the programme. We have worked lo ensure our Primetime offer for older people is accessible to p80ple ¥tho have limited mobility and l or are living wlh dementia. To do so we have increased the number of weekly chair based and sirengih and stability sessions we offei and have trained our Primelime instructors to be dementia friends. We arè a pro-active member of the Bromley Dementia Community Steering Group and in partnership organis8d a free AfteinoDn Tea Party al Crofton Halls for people living Imlh dementia and their carers. At the olher end ol the age spectrum, we continued lo ofler an exlènsive woekly swmming lesson programme lor babies and children. In addition, we continued our work in partnership wlh Bromley Children and Families Forum to offer weekly free- swimming lessons for young mums and their babies. The lessons have been promoted via the Family Nurse Partnership, thè Bromley Council Care Leavers team, and the Ghildren's cenlres. We continue lo deliver a weekly Myclub programme of aotivilies for young peoplg and alulls with disabilities. This year we succèssfully resourced and recruited a Myclub CoL>rdinalor lo oversee the programme and ensure il is a relevant and effective program. We delivered 8 sessions per week across three facilities, wlh activities including 10-pin b0illg. dance, mulli-sports, Zumba and goll. Feedback from customers and carers continues lo be exlremely positive. Over the financial year, Mytime Active were proud to support Team Bromley enter Ihe London Youth Gam&s. Dufing 9 months ol competition, 35 T8am Manag&rs gave their lime voluntarily lo support Toam Bromley entries across 25 ¢ompelilions in 15 different sports. We finished overall in 4th place on the Jubilee Trophy score board versus 32 other London Boroughs. We continue to support the delivery ol Bromley Councils Loneliness Strategy, Together Fund attending bi-monthly meetings and completing quarterly réports lo highlight the great work we are doing lo reduce the feelings ol loneliness and isolation that so many people across the Bromley struggle with. Page 5
MlME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT ACHIEVEMENT AND PERFORMANCE Icontinuedl Chalr and CEO statement Icontlnuedl Social Value (continued) By using an industry recognised social value calculator, we are able lo highlight the monetary value that our activities make lo our IoGal communities from a social, physical and mental health perspective. leading lo savings in health and social care costs. The social value is independently calculated by 4 Global base(S upon a recognised model supplied by Sheffield Hallam Univèrsily We were able lo value our social value in 2023124 al an amazing £17m, an increase of £1 m on the previous year. Mytime Active Wg passlonaie Jb(bUt suppvrtlng our loc•1 comvnuvilty. Our •ocuF on ImprovivDy tsvernll wollbelng physScal aclvOty. hcalthlor tood cho•oes. bulldlg ronfldence. ge•f•eSteem. formong rlgnql¥hlps. £4 million CHARITABLE LEISURE TRUS In cIal vtsluc wa- iut)ed tts thc rcductlon in crim rates young rnples the enh4)n¢emont of soclal c?piifil. gcnoratod for <ivy uslng Myiim ACtbll'S •fvbCO8 £100 £1 million Aliriost El rnilllnn gavod brt relulo io hlp Iraclures%. wvllb44bi?%y. uclal bengflls Lt&a¢Èt• by Ai)rll ?0?.7 £4 million IN JUST ONE YEAR savlngs v4efe 8Cfts8 ei9ht dlffÈrent phyAlcal rnental health £1 7 million Myllme Actlve dellvered Tnore ihtyn £1 7 miiiio worth ol oclal vÉlu• In lugt on• yaar. £9 MILLION £1.2 million In savingts were rob8ted to iype ?. dlabee3 EJn¢l demontl. wollbeii)g. vcllec11119 the Increased lifÈ &aiislkicfion Ilial Gomes from tselTr part of Myiimo Acllv•. ActlvS11è8 & Membershlp Membership growth and general aclivily were impacted by economic uncertainly and strain on disposable finances for our users. We experienced the loss ol two seNices, W8s1 Wickham Leisure Centre in February 24 and Coblree Go51 Course in September 2023. Despite these evènts, we still saw growth in our underlying memborship base. Across our Goll business we increased our number of memberships from 1,96410 2,109 for the year, bul experienced attrition a¢ross our annual memberships, which were compensalod for by higher growth for our monthly membership. The kèy driver ol this 9rowth lo due lo the introduction of the Young Person's golf subscription alongside segmented and targeted marketing campaigns and communications. Our largest age group covered ages 26- 35 years. Overall, our Leisure membership base fell from 15,023 10 14,936 members over the year. The drop was due lo the closure of Wesl Wickham wh8re we lost 622 members, wlh our other siles adding 535 new members during the year. The business responded quickly and efficiently lo this closure lo miligale the impact the closure had on our services. Additional classes al the Spa and local venues in We51 WiGkham were provided lo improve capacity and provide a degree of choice lo our members. We issued regular communications lo our members around the closure and introduced a loyally discount programme for members affected by the Glosure. Thi5 resulted in the relenlion of 50% 01 the membership base for Health & Filness and fj5'/o of the swim lesson programme. Page 6
MYfiME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT ACHIEVEMENT AND PERFORMANCE {contlnued} Chalr and CEO stat&ment (continued) Leisure membership performance al The Spa Beckenham is worthy ol note as we wère operating in temporary services in the New Year peak trade period with the new gym and fitness studios completed in June. Despite the disruption al sile, the centre grew ils membership bas8 liom 6,53610 6,734. We intioduced our Health membership in the Midlands lo boost our operations in the region and are hopeful lo replicate the success we enjoy in Bromley. Digiial inilialives continue lo drive success in obtaining repeal business online allowng the cenlfe based staff to locus on delivering service. We have had an impressive 1.1million bookings ranging from wedding celebiations lo SEND classes, 300,000 lee times, and everything in belween. We delivered 19,584 group exerGise classes in our studios and ptsols which were aitended by10,623 customers from new bom babies lo adults 0190 years. Our People Our'Peoplè Slralegy, describes howwe will cieate the workforce we need lo deliver our vision - vthere people deliver Iheii best each and every day and feel involved, inspired, appreciated, (uifilled, happy and healthy al work. 11 is through our people that our members will receive a grèat customer experience and wè will a¢hieve oui overall strategy. In developing a highly engaged, motivated and salisfied workfor¢e we have recognised 182 individuals for their achievements and launched annual leadership awards where 7 managors were recognised forlhe part they play from enhancing the customer experience lo besl performance improvement. We have continued to seek leedbaGk by holding quarterly en9agemenl surveys and teams have implemented action plans following their teams, cornmenls, particularly around communi¢alion lor example reintroducing 'leam huddles,, holdin9 more team meelings and celebratin9 'employee of the nth. Although our Employee Engagement iemains positive, we have not mel our lafgel for the year, bul have achieved an Employeè Engagement score of 20. Employeè Engagement wll remain a key locus lor the senior team in tho coming year. Our Employee Consultative Comrnillee has continuèd lo play an importanl role in suggesting improvements, a service recognition event lor those staff with 10- and 20-years' service is one such example. We hav8 also enhancèd our benefits package following feedback, including a new Home and Tèchnology Benefit allowing staff to spread the cost ol (he lalesl tech and household essentials, a salary sacrifice car purchase scheme and delivered health assessments to our lop 35 leaders. Page 7
MYfiME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT ACHIEVEMENT AND PERFORMANCE Icontlnuèdl Chalr and CEO statement {¢ontlnuedl Greèn Agenda We are dedicated lo making a positive impact on the environment, firstly by understanding our impact, then by reducing our dèmand upon il and finally by taking measures that improve il. Our team, alongside our members, have been working diligently lo contribute lo a sustainable fulure. Despite the challenges posed by the currenl energy Crisis, we remain sleadlasl in our commitment to our long- lerm vision ol achieving carbon neutrality by 2050, in alignment wlh the UK largel. To ensuie wè stay on track, we define cleai areas lor focus. En8rgy and Waler Usage We are closèly monitoring our energy and wate¥ consumption to identify and implement efficiency improvements. In eafly 2024 we launched al is known as the Amber Portal giving us data on our energy usage every 30 minutes. This enables us lo closely monitor and react lo the way in which we consume energy and lake correclivè action where necessary. Transllion to Electrlc Vehlcles 11 is the intention lo replace our vehicle fleet with eleclrio vehicles, redLtcing our carbon footprint and supporting sustainable Ifansportalion wherever tx)ssible. Mostof ourfleel consists of greenkeeping equipment and the move in this market is still in ils infancy and would not yel meet our operational needs. The innovation in this market wll continue lo be watched and invesligaled. Dlgltal Transformation Moving away from paper-based systems lo digilal platlorms. we aim lo reduce paper wasle and improve operational efficiency. Renewablè Energy Transltlon A shift towards renewable energy Sour5, such as solai power has been investigated and discussions started wlh our landlords as lo the leasibilily of doing so. Working in conjltnclion wlh the London Boiough of Bromlèy the most advanced energy efficient solutions are being procured lor the West Wickham and Walnuts reluibishmènts, in the form ol ground and air source heal pumps. These will strongly decrease our overall carbon emissions in the coming years once the sile5 are operational in 2026. Energy EfficlÈncy Improvèments When equipmènt such as boilers or Air Handling Unils reach their end ol life, the procurement process lakes inlo account the need lo replace with the most energy efficient options available. In early 2024 the Spa al Beckenham has a new Building Managemenl Syslem installed lo support this action. Waste Reductlon and Recycllng Team members were all gifted a Mytirne Active branded reusable cup and issued with thè requirèment lo no longer use single Lfrse cups. The next slep is to roll out an incenlivised scheme lo encourage our customers lo also move away from single use cups across our siles. Blodlvèrslty Acllons Improving the ecosystem in which Mytime Active opgrales is important and where suitable we are irnplemenling biodiversity acts'ons across our golf eslales., this is in the form of wildflower areas and the removal of aging fences and replacing wilh hedgerow. The integration of native plants into our course landscape also provides habilals for wldlile thilsl reduGing the dèmand lor water. In some areas the inlroduclion of nesting boxes and birdhotjses wll actively support the growng numbers of wld birds living on our courses. These actions are aimed al preserving and restoring the country's unique biodiversily. Promotlng Responslblè Behavlour Our members are encouraged lo behavè responsibly, avoid littering and be aware ol and respectlul ol vildlife habilals. These are just a snapshot of the actions being taken across the Organisalion lo19ssen Ihe impacl Mylime Active has on the world around il. Page 8
MYTIME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Income and expèndlture Mytime Active reported a nel surplus in the year (before actuarial gains I losses) ol £o.gm12022123 loss ol £0.3ml, as we expèriènced a strong demand for our services particularly across our Leisure siles. The business produced income of £25.4m versus £22.8m for the prior year, where we experienced higher aclivily levels than seen in the prior year,bul did experience the loss of two sites mid-way through the financial year. Total expenditure increased from £23.2m lo £24.6m, an increase in costs of £1.4m16 101 as wè fad the challenge of rising costs across our cost base, impacting all parts of the business. Management has a procurement strategy in place lo ensure value for money and several our key supplies were ieviewed. The outcome resulted in savings which will have a positive impact for the current financial year and help kegp cosls increases lo a manageable level. Key Performance Indicators 23124 69,513 45% 22123 62,492 49Yo Average revenue per day £ Staff costs as a Yo Revenue EBITDA as a Yo Revenue Cashflow cover Return on Capital Employed 14Y. Investment Level of investrnenls remain reslricled as we seek lo maintain a higher lèvel of reserves due lo pendin9 operational challenges wlh the loss of 2 siles for an inlorim period. Nolwlhslanding these necessary precautions, we were able lo invest £462k122123 £662kl in our physical and digital eslale. Across our leisure and golf estate we improved a¢¢essibilily, security, healing, fire safety and air conditioning. We completed our upgrade to our bOlg lanes al Pavilion lo improve cuslomei experien¢e and begun our Spa gym refurbishment whose completion was delayed until June 24. Our digital platforms received investment lo ensure continuity and lo continue lo support and enhance our customers digital joumey and strengthen inleraclion. Company (note 151 £ Improvements to propertv Equlpment, plant & fittings Computer Equipment Total Purchased 397k 65k 462k Th8 Charitable Company uses availablè resèrves lo reinvest back into the service and facilities. These investments are key lo gaining future business stjccess and ensuring customers conlinuè lo receive services al a quality and price that meets their growng expeclalions. Since the Charitable Company began in 2004 more Ihan £27.61m has been invested into facilities so lar. 2023-24 saw lower levels of actual invesimenl than in prior years, due lo a dèlay in a £0.4m capital project which was completed in June this year. Dlgiial Capilalising on the successful implementation ofAzure, our cloud computing system Irom Microsoft, our team doGumenled the primary threats Cyber-attacks pose. This milestone initiated our Cyber strategy, delivering a faster and more reliable Wi-Fi lo support the lalest streaming devices, lighter email lillering lo combat against daily cybef Ihreals, employee email phishing awareness and simulation campaigns in recognition of the fact that 95010 ol security breaches result from human interaction. We further eslablished a clear separation between nelwofks that our Business systems operate upon and thosè which support oui Guesl network for customers and visitors. In addition, we introduced "Single Sign On" ISSOI redltcing multiple login occurrences lo one lo mitigate against cyber login Ihreals. Our IT team continued lo improve our digital systems and examp18s of projects complèted include an app lo supportour Health Check inilialive, implemènlalion of a new finance system, Access Dimensions ISaaSI and lull due diligence on Gladstone Go, our member admissions platform as parl ol an extension lo our licenGe term. Page 9
MYTIME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 Dlgltal. contlnuèd We continue lo advance our cuslomer relationship management ICRMI capabilities, enhancing both our customer enga96m8nl and internal èfficiencies. Our commitment lo delivering peisonalised experiences was reflected in the inlroductton of aulomaled communications, enabling US to send laTgeled email messages based on customer preferences, inleraclions and Iransaclions. These automated programmes include renewal reminders, welcome communications, and posl-visil rebooking reminders, which have improved our abilily lo engagè wlh customers at the right moment in their journey. Additionally, we focused on galheiing actionable insights by aulomaling the Personal Wellbeing Factor and segmenlalion surveys. This ensures we regularly collecl and analyse up-to-dalè information, allowng us lo beller understand and m881 ourcuslomeis, needs. Investment powers and pollcy Thè Charitable Company has a low-risk inveslmènl policy and as such surplus money not immediately required for the operational needs of the Charitablè Company is invested in interest bearing accounts. Interest receivèd during the financial year was £251 k 12022123- £91kl. Nel cash inflow l¥om operaling aclivilies was £1m12022123 - inflow £0.9ml during the year, Cash balances weie £5.1m12022123- £4.8ml at thè year end. RISK No organisalion is vilhout risk and we continue lo slrenglhen our risk managemenl systems and prosses. Our inleinal auditor is fully embedded wlhin Ihe organisalion and undertook a full pro9ramme ol audits, delivering 65 audits during the financial year. This programme and actions taken by management has helped us meet our slatulory slandards and given us valuable insighl into the business. We have expand8d the scope of internal audits for 24125 lo cover customer expèrience and service standards. Alongside our audit program we have a wde range of operating policies and Procedures lo support staff, which has helped to redu incidenls. The area of risk is closèly scrutinised by our Audit & Risk Committee vtho receive regular reports, including the risk re9isler. The committee ensure a thorough appraisal of key risks is undertaken and keep the board fully appraised of all devèlopments. The key risks identified Mlhin our risk register ielale lo our Group 2 properties as they come to an end of their èconomic lif& and the risk of interruption to services as a direct result. In Febiuary our Wesl Wickham Leisure Centre was closed and has not reopened. Wesl Wickham along wlh Walnuls Leisure centre are subject lo plans by our landlord, London Borough ol Bromley, lor a mulli million pound investment, which are al an advanced stage. Expectations are lor sites to be closed for redevelopment during 2025 and opening in the springlsummer of 2026. Other risks include the recruit(nenl and retention of slaff and threat pos6d by cyber allacks. GOVERNANCE AND LEADERSHIP There was a stiong degree ol conlinuily in the leadership team during the financial year, wlh the only significant departure being the Director ol Operaliot)s in August 23. After an extended search led by our Director of HR, we successfully appointed Stève May as our new Operations Diroctor who joined us in May 24. Sadly, our deputy chair, Alistair Oa9, resigned on 301h April 24. We would like lo extend our gialilude lo Alislair for his lime as a valued member of the board. Colin Douglas has been appointed as our newvice Chair and we welcome Colin to his new role. We are pleased to report ihal al our September 24 board meeting, we appointed two new Iruslees, taking the number ol Iruslees lo 12 our maximum. Wè look forward lo working with Mark Crichton and Caroline Briggs. Resèrvès pollcy and Charity funds The board of trustees has considered the risks and opportunities by reviewng a series of projeclions based upon certain events and contingencies, alongside the level ol eash reserves il dèems appropriale lo maintain. In considerin9 the target level of Ltnreslricted cash reserves. the Board have considered several laclors including the lollown91o provide a largel reserve lo create a necessary contingency for unforeseèn events.. - 1. Allow lor planned inveslmanl and othe¥ similar purposes 2. Allow for cyclical maintenance expenditure where we have an obligation to incur under various property leases 3. Allow for contract and lease expiry in the event the a9reements are nol extended or renewed, and other risks identified on the risk re9lSter 4. Allow lor the closure ol one of more ol ils siles 5. To protect Mytime Active llom the ¢urrenl economic uncertainty 6. To protect Mytime Active Iiom the possibility of adversè unforeseen circumstances Page 10
MYTIME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 Reserves poll¢y and Charlty funds. contlnued Based on the above and the board ol Trustees have a largèl policy of maintaining £3.8m in unreslricled reserves lor the coming 12monlhs. Thè sum is based on current operational cosls and projections, laking into consideration the above factors, equalin9 10 approximately two months of core operating costs of the charity as a whole or six months operating costs of core sectors. It is the intention ol Trustees lo closely scrulinise the reserves over the coming year, alongside Ihe company's risk register and review the reserve policy annually or sooner il events diclale or opportunitie5 arise for business developmonl and further investment in Ihe servicès w8 provide. Al 31st March 2024, the group had accumulated cash balance 01 £5.1m. Al 31 March 2024, the parent Charitable Company and its subsidiary undertakings had accumulated reserves of £5.4m12022123£4.7ml. wlhin this were rèslricled reserves of £0.1 m12022122 £0.1ml. Going Concern The economic uncertainly will continue to challen9e the trading position of the parent Charitable Company and ils subsidiary undertaking for the next 12 months. In addition lo the wder economic un¢ertainlies, the Charitable Company is faced wilh spècific uncertainties ielaling lo the expiration of certain contracts and leases some key cuslomers, which al (he lime of writing this report are not fully knovm. The potential impact could be the loss of one or more ol our siles should we not be surKessful in our negolialions, leading lo a malerial loss of lulure incomè. Al Ihis stage the loss of income is expected to be for an interim period only and management have a transitional plan in place to manage the loss of income. As a result of specific management action, wè have been able to grow our activity levels despile the economic uncertainly and as with all business's we are having lo mitigalè rising costs across our operations and the impact this has on our operaling margins. We have been shielded from the worst ol the energy crisis due lo our long-teim energy contract, bul our ¢onlTact expires in September 24. We have been proactive in our energy management and have entered into a further long-lemi contract effective Irom 1st O¢lobèr 25 for a period of 3 years. Whilst the rates are materially higher than our currènt contracl rates, the rates are wlhin the levels of affordability lor us and have been faclofed into oui long-lerm lorecasls. The board considered the uncertainty listed above and are satisfied Ihatthe uncertainly caused by the economic outtook is not material and the charitable group and company wll be able to meet all of ils obligai¢ons as and whèn they fall due. Accordingly, whilst drawng the reader's allenlion lo the underlying uncertainties Ihal the polenlial loss of cèrtain contracts and leases may realise, they consider Ihose uncertainlios not lo be material and il approprialo lo continue lo prepare the financial statements on a going concein basis. The approach that the Board have taken is oudined fLtrlher in Note1- Accounbno Policies, Going Concern. Page11
MYfiME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 PLANS FOR FUTURE PERIODS The charitable company's mission is lo improve the wellbeing ol Ihe local communities in thich we operate, and for evèryone lo 'gel more out of life'.11 will achieve this through encouraging customers along thè four pathways of B8 Active, Eat Well, Be Positive and B6 Together, It will also seek lo increase participation, ulilisalion and customer satislaclion.11 vill work in partnership with local aulhorilies and local organisalions lo bring public benefit and lo put the local community al the heart of this mission. The charitable company's commercial aim is lo continue lo grow and slren9lhen the business in the coming years, generate surpluses to fe-invesl in our services and faGililies lo benefil the local community. LOOKING AHEAD Wè have much to be proud of bul are realistic about the challenges ahead around finances, recruilmenl and innovation lo ensure continue lo deliver #Missionwellbeing. We havè remodelled our locations into health hubs, where we are able to deliver a range of lèisure and health aclivilies which people want. To do so, we wll tailor solutions based upon a menu ol products and seNices and establish clearly defined membership lo prolong thè duration ol a members slay lo 'gel more out ol life,. This wll be built upon our greal staff teams where we wll build an engaged leam, are rowarded and well led to dèliver our mission lo'gel more out of life., FUNDRAISING As a charity our income is derived Iri)m charitable trading and as such we do nol underiake any specific campaigns which require donations. DISABLED PERSONS The parent Charitablè Company and ils subsidiary undertakings, policy is lo give lull and lair consideration lo applications for employment by disabled persons, having Tegard lor their particular apliludes and abilities. Disabled employees receive appropriate training lo promote their career wilhin the organisalion. Employees who become disabled are retained in their exisiing posts where possible or retrained lor suitable allernalive posts. ENGAGEMENT WITH EMPLOYEES Mytime Active strives lo communicate infomialion about its activities lo all employees on a regular basis, and to encourage employees lo provide ideas and fe8dback to management on all aspecls of ils operations. We believe that a regular flow ol infomation from management lo staff and vice versa wll enhance our 8ffecliveness and produclivily. Re9ular updates lo all stsff aro piovided through various methods including an internal communication app available lo all and CEO nèwslètters. Staff are able lo feedback through their line manager, quarterty engagement surveys and the Employ8& Consullalive Committee which rneets with Ihe CEO and HR Director on a quarterly basis. Wé are commitied lo providing equal opporlunilies and avoiding unlawful and unlair discrimination lo all current and prospeclive employees and customers regardless o18ge, disability, sex, sexual orienlalion, pregnancy and maternily, race or elhnicily, religion or belief, gender identity, or marriage and civil partnership. We value skills, fairness and transparency. Page 12
MYTIME ACTIVE REPORT OF THE TRUSTEES INCLUDING STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees are responsible for preparing the Rèport ol the TrLfrStèes incorporating a Slralegic Report and the financial slalemenls in accordance wlh applicable law and United Kingdom Generally Accepted Accounting Practice, including FRS102 Ilhe financial reporting standard applicable in the UK and R.O.l.). Company law requires the Trustees lo prepare financial sla16menls lor each financial year which give a true and fair view of the slate of affairs of the Charilable Company and lh6 Group and of Ihe nel income or expenditure of the Group lor Ihal period. In preparin9 those financial slalemenls, the Truslees are required lo select suitablè accounting policies and then apply them consistently., observe Ihe methods and principles in the Charity SORP 2019 IFRS 102). make judgemenls and eslimales that are reasonable and prudent., stale whether applicable accounting standards have been followed, svbjèct lo any material departures explained in the financial slalemenls., prepare Ihe financial slalemgnls on the going concern basis unless il is inappropriate lo piesume Ihal the Charitable Company and the GfOUP wll continue in business. The Trustees are responsible for keeping proper accounting records Ihat are sulficient to show and explain the Charitable Company's Iransaclions and disclose wlh reasonable accuracy at any time the financial posilion of the Charitable Company and the Group and lo enable Ihem to ensure that the financial slalemenls comply wlh the Companies Act 2006. They are also responsiblè for safeguarding the assets ol Ihe Charitable Company and the Group and hence for taking reasonable steps lor the prevention and deleclion of Iraud and other iiregularilies. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS In so lar as the tiuslees are aware.. thore is no relevant audit information of which the charitable company's auditors ar6 unaware. and the trustees have taken all sleps Ihal they ought to havè taken lo make themselves aware of any relovanl audit information and lo establish that the auditors are aware of that information. APPROVAL OF REPORTS In approving the Report of the Trustèes, the Trustees of Ihe Charilablg Company also approve the Strale9ic Report in their capacity as Direclors. ON BEHALF OF THE BOARD: bèl Gowan - Chair ol the Board Dale.. 27 November 2024 Page 13
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF MYTIME ACTIVE Oplnlon We have audited the finanGial statements ol Mytime Aclive Ilhe 'parenl charitable company'l and ils subsidiary Ilhe '9roup'l lor the year ended 31 March 2024 which comprise Ihe Consolidated Stslemenl of Financial Aclivilies, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidaled Cash Flow Slatemenl and no18s lo the financial slalements, including a summary of significant accotjnling policies. The financial reportlll9 framework that has been applied in their preparation is applicable lawand United Kingdom Accounting Standards including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (Uniled Kingdom Generally Accepted Accounting Practscel. In our opinion the financial slalemenls.. give a true and fair vièw of the slate ol the group's and of the parent charitable company's alfairs as al 31 March 2024 and ol ils incoming resources and application of resouices, including lis income and expenditure, for the yèar then ended. have been propedy prepared in accordance wlh United Kingdom Gènerally Accepted Accounting Practice including Financial Reporting Slandard102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. and have been prepared in accordance wlh the requirements of the Companies Act 2006. Basis for oplnlon We conducted our audit in acrdanCe wlh Intemalional Standards on Auditing (UK) {ISAs IUKII and applicable law. Our responsibililiès under those standards are further dèscribed in the Auditors responsibilities lor the audit of thè financial statements section of our report. We are independent of thè charilable company in ac¢ordance wlh the ethical requirements that are relevant lo our audit of Ihe financial statements in the UK, inGluding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these reqL*iiements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng ¢on¢ern In auditing the financial slalements, we haveconcluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Basèd on the work wo have perfomied, we have not identified any material uncertainties relaling lo events or conditions that, individually or llectivelY, may cast significanl doubl on the company's ability lo continue as a going concern lor a peiiod of al leasl Iwelve months from when the financial slalemenls are aulhorised for issue. Our responsibilities and the responsibilities ol the Iruslees with respect to going concern are described in Ihe relevant sections ol this report. Other informatlon The Iruslees are Tesponsible for the other information. The other informalion ¢omprises th6 information included in the group annual report, other than the financial slalements and our Report of the Independenl Auditors Ihereon. Our opinion on the financial slalemenls does not cover the other informalion and, except lo the exlenl olherwse expli¢illy staled in our report, we do not express any form of assuran conclusion Ihereon. In connection wlh our audit of the financial slalemenls, our responsibilily is lo read the olher information and, in doing so, consider whelhei the other information is materially inconsislenl with the financial slalèments or Ourknoedge obtained in the audit or otherwise appears lo be materially misslaled.11 we identify such material inconsistencies or apparent material misslalemenls, we are required lo determine whether this gives rise lo a material misstatèment in the financial stalemenls themsèlves or a material misslatemenl of the other information. If, based on the work we have performed, conclude that there is a material rnisslalemenl of this other infomialion, we are iequired lo report that fact. We have nothing lo report in this regard. Oplnlon on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in thè course ol Ihe audit.. the information given in the Report ol the Trustees which includes the slralegic report and the directors rerort for the purpose ol company lawfor the financial year for which the financial slalemenls are prepared is consislenl th the financial slalemenls,. and the strategic report and the directors feport and the report of the Trustees has bèèn prepared in accordance wlh applicable légal requirements. Matters on whlch wè are requlred to rèport by exceptlon In the light ol the knowledge and understanding ol the charilable company and ils environment obtained in the couise of the audit, we have not identified mateiial misstaloments in tho Report of the Trustees. Page 14
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF MYTIME ACTIVE We have nolhing to report in respect of the lollowng matters where the Companies Act 2006 requires us lo report lo you il, in Our opinion.. adequate accounting records have not been kept by the parent charitable company and ils subsidiary, or returns adequate lor our audil have not been received from branches not visited by us., or the group and parenl charitable company financial slalemenls are not in agreemenl with the accounting records and returns. or certain disclosures of Irusl8ès' remuneration specified by law are nol made., or we have not received all the inlormalion and explanations we require lor our audil. Responsibilities of tru8lees As explained more lully in the Slalemenl ol Trustees Responsibilities, the Iruslees (who are also the directors of the charitable company for the purposes ol company lawl are iesponsible for Ihe preparalion of the financial slalemenls and for being satisfied that Ihey give a truè and fair view, and for suGh internal control as Ihe Iiuslees determine is necessary lo enable the preparation ol financial statements Ihal are free from maleTial misslalemenl, thelher due lo fraud or error. In preparin9 the financial slalemenls, the Iruslees are responsible for assessing the group's and the parent chariiable company's abilily lo conlinue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis ol accounting unless the Iruslees either intend to liquidate the chaiilable company or lo cease opeTalions, or have no realistic alternative bul to do so. Our responslbllltles for the audit of thè flnanclal statements Our objectives are lo obtain reasonable assurance about whether the finan¢ial stalemonls as a thole are free from material misslalemenl, thelheT due lo fraud or erio¥, and lo issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level ol assurance, bul is not a guarantee that an audit conducted in accordance wlh ISAS IUKI will always deleGI a material misslalemenl when il exists. Misslalèmenls can arise from Ifaud or error and are considered material il, individually or in the aggregate, they could reasonably be expected lo influence the economic deGisions of Ltsers taken on the basis ol Ihese financial slalemènls. Irregularities, including liaud, are instances ol non-compliance with laws and re9ulalions. We design procedures in line wlh our responsibilities, outlined above, lo delecl material misstalemenls in respect ol irregularities, including fraud. The exlenl lo Kthich oui procedures are capable of detecting iriegularilies, including fraud is detailed below.. Our approach lo identifying and assessing the risks ol material misslalemenl in respect ol iTregLFlarilies, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured Ihal the engagèment team collectively had the appropTiale competence, capabilities and skills lo identify or recognise non-compliance vilh applicable laws and regulations., we identified the laws and regulalions applioabl? lo the gloup and charitable company through discussions wlh directors and our experience of the seclor., we focused on specific laws and ie9ulalions which we considered may have a direct material effect on the financial slalemenls or the operations ol the Group and Charitable Company, including, bul nol limited lo, the Companiès Act 2006, UK lax legislation., we assessed the exlenl ol compliance with the laws and regulations identified above through making ènquiries of managemenl., and identified laws and regulations were communicated within the audit team regularfy and the team remained alert lo inslances ol non-compliance throughout the audit. We assessed the susceplibilily of the Group'5 and Charitable Company's financial statèmènts lo material misslatemenl, including obtaining an understanding of how Iraud might occur, by.. making enquiries of management as lo where they considered Iheie was susceptibility lo Iiaud, their knowledge of actual. svspec16d and alleged fraud., considering the inleTnal controls in place lo miligale risks of fraud and non-compliance wlh laws and regulations. To address the risk ol Iraud through managernenl bias and ovorride of conlrols, we.. performed analytiGal procedures to identify any unusual or unèxpècted relationships. lesled journal entries lo identify unusual Iransaclions. reviewed managemont contracts whère contract variations had arisen,. assessed whelherjudgements and assumptions made in determining Ihe accounling eslimales sel out in note1 were indicative of potential bias., and investigated the rationale behind significant or unusual itansaclions. Page 15
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF MYTIME ACTIVE In iesponse to the risk ol irregularities and non-compliancè with laws and regulations, we designe(I pri)cedures which included, bul were not limited lo.. agreeing financial slalemenl disclosures lo underlying supporting documenlalion., reading the minutes of mèetings ol those charged wlh governance- enquiring of managemenl as lo actual and potential lili9alion and claims., and reviewin9 correspondence wlh HMRC and the relevant regulalor. There are inherent limitations in otjr altdil procedures desGribed above. The mofe removed that laws and regulations are from financial transactions, the less likely il is that we would bewme awale of noncompliance. Auditing standards also limit the audit procedures required lo identify non-compliance vilh laws and regulations lo enquiry ol the Committee of Management and other management and the inspection of regulatory and legal coriespondence, il any. Material misslalements that arise due lo fraud can be harder lo detect than those Ihal arise from error as they may involve deliberale concealment or collusion. A further description of our reswnsibililies for Ihè audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklaudilorsresponsibilities. This descrip(ion forms part of our Report of the Independènt Audilors. Use of our report This report is made solely lo Ihe charitable companls mgmbers, as a body, in aGcordance wlh Chaptei 3 of Part16 of the Companies Act 2006. Our audil work has been undertaken so that w6 mighl slate lo the charitable company's members those matters we are rèquired lo slate lo them in an auditors, report and for no other purpose. To the fullesl exienl permitted by law, we do not accepl or assume responsibility lo anyone other ihan the charitable ¢ompany and the charitable company's members as a body, lor our audil is report, or lor the opinions we have formed. Clai ayner FCA DChA (Senior Stalulory Audilorl for and on behalf of Mccabe Ford Williams Stalulory Auditors and Chartered Accountants Building 1063 Cornforth Drive Kent Science Park Sittingbouine Kent ME9 8PX Dale.. 27 Novernber 2024 Page 16
MYTIME ACTIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Notes Unreslricted Funds Reslri¢led Funds Pension Adjustment Unreslricled 31.3.24 Total Funds 31.3.23 Total Funds INCOME Incon78 from ch8ri18ble aclivilies.. Opèration ol leisure, recrealion siles and health activities other funding 24,152,914 24,152,914 21,928,422 154,459 350,789 505,248 230,479 24,307,373 350,789 24,658,162 22,158,901 Income from olh8rlrading aclivilies.. CommeT¢ial trading operalions 463,452 463,452 559,688 Income from Inveslmenls.. Investment income 250,619 250,619 90,941 Total Income 25,021,444 350,789 25,372,233 22,809,530 EXPENDITURE Costs of raising funds.. Commercial trading operations 284,057 284,057 459,754 Expendifure on charilable activrfigs.. Operalion of leisure, recreation siles and health activities 23,977,401 261,174 16,0001 24,232,575 22,695,934 Total expèndlture 24,261,458 261,174 6,000 24,516,632 23,155,688 Net incomellexpendlture) for the year before actuarial gain$ I Ilossèsl under FRS102 759,986 89,615 6,000 855,601 1346,158) Re-measuremenls on defined benefit schemes 23 {63,0001 163,0001 465,000 Transfers 67,762 67,762 Nèt movement In funds 827,748 21,853 {57,0001 792,601 118,842 RECONCILIATION OF FUNDS 26 Total funds brought forward 4,560,381 105,846 57,000 4,723,227 4,604,385 Total funds carrled forward 5,388,129 127,699 5,515,828 4,723,227 CONTINUING OPERATIONS All incoming resources and resources expended arisè from continuing activities. The notes form part of these financial slalements Page 17
MYTIME ACTIVE Company Registered Number.. 04809606 CONSOLIDATED BALANCE SHEET AT 31 MARCH 2024 31.3.24 Total Funds 31.3.24 Total Funds 31.3.23 Total Funds 31.3.23 Total Funds Notes FIXED ASSETS Tangible assets Investments 14 15 4,521,171 4,930,792 4,521,171 4,930,792 CURRENT ASSETS Slocks Deblors.. amounts falling due thin one year Cash al bank and in hand 16 17 126,609 1,134,637 127,815 728,609 5,144,697 4,804,595 6,405,943 5,661,019 CREDITORS Amounts falling due wlhin one year 18 4,874,685 5,213,365 NET CURRENT ASSETS 1,531,258 447,654 TOTAL ASSETS LESS CURRENT LIABILITIES 6,052,429 5,463,446 CREDITORS Amounts falllng duo after more than one year 19 1337,320) PROVISIONS FOR LIABILITIES 22 1536,6011 1374,899) NET ASSETS EXCLUDING PENSION ASSET 5.515,828 4,666,227 PENSION ASSET 23 57,000 NET ASSETS 5,515,828 4,723,227 FUNDS Uniesliicled funds Restricted funds 5,388,129 127,699 4,617,381 105,846 TOTAL FUNDS 26 5,515,828 4,723,227 The financial slalemenls were approved by Ihe Board ol Trustees on 27 November 2024 and were signed on ils behalf by.. el Gowan - Chair ol the Bo The notes form part of these financial statements Page 18
MYfiME ACTIVE Company Registèred Number.. COMPANY BALANCE SHEET AT 31 MARCH 2024 04809606 31.3.24 Total Funds 31.3.24 Toial Funds 31.3.23 Total Funds 31.3.23 Total Funds Noles FIXED ASSETS Tangible assets Invèstments 14 15 4,521,171 4,930,792 4,521,172 4,930,793 CURRENT ASSETS Slocks Debtors.. amounts lalling due thin one year Cash al bank and in hand 16 17 126,609 1,170,708 127,815 764,681 5,108,625 4,768,522 6,405,942 5,661,018 CREDITORS Amounts falling due wlhin one year 18 4,874,685 5,213,365 NET CURRENT ASSETS 1,531,257 447,653 TOTAL ASSETS LESS CURRENT LIABILITIES 6,052,429 5,378,446 CREDITORS Amounts falllng due after more than one year 19 1337,320) PROVISIONS FOR LIABILITIES 22 1536,6011 1374,8991 NET ASSETS EXCLUDING PENSION ASSET 5,515,828 4,666,227 PENSION ASSET 23 57,000 NET ASSETS 5,515,828 4,723,227 FUNDS Unreslricled funds Rgstricled funds 5,388,129 127,699 4,617,381 105,846 TOTAL FUNDS 26 5,515,828 4,723,227 The financial statements were approved by Ihe Board of Trustees on 27 November 2024 and were signed on ils behalf by.. l Gowen . Chair of the oard The notes form part of Ihese financial statements Page19
MYfiME ACTIVE STATEMENT OF CASH FLOWS AND CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Group 31.3.24 Group 31.3.23 Company 31.3.24 Company 31.3.23 Cash flows from operatlng actlvities 1,013,417 920,020 1,013,417 920,019 Cash flow5 from investlng actlvltles Purchas6 of langible fixed assets Disposal of tangible fixed assels Intèrest income 1462,0601 11,078 250,619 (661,837} 1462,0601 11,078 250.619 1661,837) 90,941 90,941 Cash used in investing activities 1200,3631 1570,896) 1200,3631 1570,896) Cash flows from financlng actlvltles Loan repayments in year 1472,952} 1393,0001 1472,9521 1393,0001 {Decreasè}Ilncrèase In cash In the perlod 340,102 143,8761 340,102 143,8771 Opening cash at bank and In hand 4,804,595 4,848,471 4,768,522 4,812,399 Closlng cash at bank and In hand 5,144,697 4,804,595 5,108,625 4,768,522 The notes form part of these financial statements Page 20
MYTIME ACTIVE NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES Group 31.3.24 Group 31.3.23 Company 31.3.24 Company 31.3.23 Nel movement in lunds 855,601 {346,158) 855,601 1346,158) 940,424 DepreGialion charges 861,188 940,424 854,231 LossllGain} on disposal of fixed assets Movement in provisions 1586} 6,371 61,702 82,849 61,702 62,849 {Increasel I deciease in stocks {Increasel I decrease in debtors 1,206 113,1661 1,206 (13,1661 {406,0281 60,108 1406,0281 55,387 (Decrease) l inciease in creditors Nel interest cost Difference belween pension charge and cash contributions {103,0471 262,904 (103,0471 267,624 118,0001 12,000 9,000 35,000 (18,0001 12,000 9,000 35,000 Interest received 250,619 90,941 250,619 90,941 Net cash Inflow lout flow) from operatlng actlvltles 1,013,417 920,020 1,013,417 920,019 ANALYSIS OF CASH AND CASH EQUIVALENTS Group 31.3.24 Group 31.3.23 Company 31.3.24 Company 31.3.23 Cash in hand Notice deposits (less than 3 months) 3,123 5,141,574 10,064 4,794,531 3,123 5,105,502 10,064 4,758,458 5,144,697 4,804,595 5,108,625 4,768,522 ANALYSIS OF CHANGES IN NET FUNDS- GROUP Al 1.4.23 Cash flow At 31.3.24 Net cash Cash al bank and in hand 4,804,595 340,102 5,144,697 4,804,595 340,102 5,144,697 Debt Debts lalling due within 1 year Debts falling due after 1 year 1478,0001 337,320 50,633 337,320 1427,3671 815,320 387,953 427,367 Total 3,989,275 728,055 4,717,330 Page 21
MYfiME ACTIVE NOTES TOTHE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basls of preparing the flnanclal statemènts The financial stslements of the charitable company, vthich is a public bènèfit entity under FRS 102, have been prepared in accordance wilh the Charities SORP IFRS102)'Accounling and Reporting by Charities.. Slalemenl of R8commended Practice appliGable to charities preparing their accounts in accordancè with the provisions of FRS 102 (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporling Standard applicable in the UK and Republic ol Ireland, and the Companies Act 2006. There were no material departures from that standard. The financial slalements are prepared on a going concern basis under the historical ¢osl convention, modifièd lo include certain ilems al fair value. Thè financial statements are prepared in sterlin9 £, which is the lunclional and presenlalional curren¢y of the charily. Golng Concern The Charilablè company and ils subsidiary company have traded in line wilh foiecasts prepared prioi lo the start ol financial year and have enjoyed positive trading, wlh an increase in underlying memberships and casual participation, notably across the Leisure cenlres. The forecasts indicate that the Group and Charitable Company wll remain wlhin ils financing facilities for the foreseeable lulure and wll bè ablo to meet ils financial obligalions as they fall due. The Board of Trustees has determined that the actions taken are sufficient lo miligale uncertainties which are not considered to be malersal and therefore considers that il is appiopriale lo prepare the financial slalemenls on a going concern basis. Group financlal statements The financial statements consolidate Ihe results ol the Charilable Company and ils wholly owned subsidiary, Myiime Entèrprises Limiled, on a line by linè basis. A separate Slatem8nl ol Financial Act¢vities and Incomè and Expendiluie Account is not presented forlhe Charitable Company iisèll in accordance with Ihe exemptions afforded by section 408 ollhe Companies Acl 2006. Company status The Charity is a Private Company limited by guarantee incorporaled in the United Kingdom in England. Income Income from reGrealion, lèisure sites and heallh aclivilies are included in the Slalemenl ol Financial Activities when the Charitable Company is legally eni*Ued lo the income, il is probable thal the income will be reG8ivèd, and the amount can bè quantified with reasonable accuracy. Income represents nel sales of goods and s8Nces and management lees excluding value added lax, lo cuslomers during Ihe year. Certain income is received in advance ol the provision of the relevant service and as such is deferred until the seNice commences. Some services are provided in advancè ol an invoice bein9 raisèd and the associated income is therefore accrued until the invoice has been raised and the income recognised in the Stalemenl of Financial Aclivilies. Income for annual membeiships is counted for over the membership year. Page 22
MYfiME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- Continued Grants l other funding Grants receivable in respect ol a specified period relating lo the general activities ol thè Charitable Company are recognised in the Slalemenl of Financial Activities in the period in which the Charitable Company has enlill6menl lo Ihe funds, any performance conditions allached lo the grants have been mel, il is probable that the incomé wll be received and the amount can be measured reliably and is not deferred. Government grants Government grants are recognised when il is reasonably certain that the conditions aitached lo the grant are mel. Income from grants is recognis9d when there is evidencè of ènlillement lo the gift, receipt is Pfobable and ils amount can be measured reliably. Unrestrlcted funds Unrestfioled funds are incoming resources re1vable or generaled for the objects of the Charilable Company wilhout further specified purpose and are available as 9eneral funds. Restrlcted funds Restricted lunds are to be used lor specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the funds. Expenditure All expenditre is accounted lor on an accruals basis and has been classifièd under headings ihal aggregate all costs ielaled lo the category. Where costs cannot be directly allribuled to particula¥ headings they have been allocaled lo activities on a basis consislenl ¥Mlh the use ol the resources. Expenditure inGludes allribulable VAT which cannot be recoveied. Allocation and apportlonment of costs Charilable activities are those costs inGurred directly in Ihe running of @ach of the golf and leisure siles and in performance of thè health activities. Charitable activities are split into golf, leisure and heallh actiwlies Costs, which are those costs incurred directly in the running ol each ol the 8Ctivilies, and support costs which are those costs incurred diieclly in supporl of expenditure on Ihe objects of the Charitable Company. Taxatlon The Charitsble Company is èxempl Iiom corporaiion tax on ils charitable aclivilies. Where the Charitable Company conducts trading activilies corporation lax is charged on the profits arising from these aclivilies. Tanglblè flxed assets Fixed assets are shown in the financial slalemenls atcosl including irrecoverable VAT in respect of these assets. Depreciation is provided al the following annual rates in order to wrtte off each asset over ils estimated useful life. Improvements lo property -over remaining term ol lease Equipmènt, planl and fittings -slraighl line over 3 and 5 years Motor vehicles -slraighl line over 5 years Compuler equipment -slraighl line over 3 years Flxed asset Investments Fixed asset inv&stmenls represent the charitabl8 company's holding ol share capital in the subsidiary. Thè asset is shown in the financial slalemenls al cost less any impairmenl losses recognised. Redundancy and Termlnation Payments Redundancy and lerminalion payments are rèoognised in the slalement of financial activities once the charilable Company is demonstrably committed lo the expenditure. Page 23
MYfiME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- contlnued Lease arrangements The buildings and plant at the cenlrès are leased to thè Charilable Company as part ol the overall conlraclual ielalionship th the Authorities bul the Authorities maintain ultimate contiol ol those assets. Accordingly the aGce5s thich the Char¢table Company has in the use ol these as5els is lo enable il lo operate ihe leisure cenlres and golf ¢OLtrses, so that the Charilable Company can provide the public se¥vice il is contracted lo provide, not lo effectivèly own these public service assets. Thes& as5els are therefore nol recognised on the Charitable Company's Balance Sheet. Stocks Stocks are valued al thè lower ol cost and nel realisable value, on a firsl-in-firsl-oul basis, after making due allowance for obsolete and slow moving ilems. Provlslons A provision is reco9nised in Ihe balance she8t en the Charitable Company has a present legal or construclive obligation as a result ol a past event and il is probable Ihal an oufflow ol economic benefit will be reqLtired lo sellle the obli9alion. Provisions, when created are based on the best information available lo the Board al that point of lime. Hlre purchase and leaslng commStments Rènlals paid under operating leases are ¢harged lo Ihe Slalemenl ol Financial Aclivitses as incurred. Flnancial Instrumènts Tho charilable company enters into basic financsal instruments that resull in ihe recognitson of financial assets and liabilities like liade and other acGounts receivable and payablè, loans from banks and other third parties and loans lo relaled parties. al Trade and olher debtOTS Trade and other debtors ale initially re¢ognised atlair value and thereafter slated al amortised cost using the effective interest meihod, less impairment losses for bad and doubllul debis except there the effect of discounting would be immalèrial. In such cases, the receivables are slated al cost less impairment losses lor bad and doubtful debts. bl Cash and cash equivalents Cash and cash equivalents comprise cash al bank and in hand. c) Impairment of financial assets Financial assels that are measured al cost and amortised cost are assessèd al the end ol each reportin9 period for objective evidence of impairment.11 objective evidence ol impairment is found, an impaiTmenl loss is recognised in profil or loss. For financial assets mèasured al amortised cost, the impairmènt loss is meastjred as the difference between an assel's carrying amount and the present value of estimated cash flows discounted al the assèt's original elteciive interest rate. If a financial asset has a variable inlerèsl rate, the discount rale lor measuring any impairment loss is Ihe current effeclive inlèresl rate determinod unde¥ Ihe conlracl. For financial assets measured al cost less impairment, the impairment loss is measured as the diffèrence between an assel's carrying amounl and the best eslimale, which is an approximation, of the amount that the company would receive for the asset il il were lo be sold al the reporting dale. d) Trade and other credilors Debt instruments like loans and other accounls payable are initially measured at presènt vallte of the future payments and subsequently al amortised cosl using the effective int6reslmelhod. Debt inslrumenlslhal ale payable within one year, typically Irade payables, are measured, initially and subsequently, al the undiscounled amount of the cash or other consideration expected lo be paid. Howèver, if the arrangements of a short.lerm instrument conslilule a financing Iransaclion, like the payment of a trade debt deferred beyond normal business teims or financed al a rale ol interest thai is not a market rale or in case ol an oulrighl short-term loan not al markèt rate, the financial asset is measured, initially and subsequenuy, al the present value of the future payments discounted al a market rate of inle¥esl lor a similaT debt inslrumenl. Financial assets and liabilities are offset and the nel amount reported in Ihe slalem8nl of financial positson then there is an enforceable righl lo sel off Ihe recognised amounts and there is an intention to sellle on a nel basis or lo realise thè asset and settlè the liability simullaneously. Page 24
MYfiME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES-continued Pensions The Charitable Company complies wlh lègislation concerning automatic enrolmenl and as such operates a delined contribution pension scheme. Conlribulions lo defined contribution schemes are charged lo the Statement of Financial Activities as incurfed. These include contributions lo the stakeholder pension scheme and employees, personal pension schemes. The Charilablo Company operates a pension scheme providing benefits based on final pensionable pay. Conlfibulions to the defined benefits herne are chargèd lo the Slalemenl of Financial Aclivilies in older lo allLKale the cosl of providing the pensions recognising any acluarial surplus or deficiency (where appropriate}, ovèr the working lives ol the relèvant employees as assessed in accordance with the advice of a professionally qualified actuary. The assels of thè scheme are held separately in an independently administered fund. Crilical accounting judgèmènts and key SOU89 of èstlmatlon uncertainty In the application of the Charitable Company's accounting policies management is required lo make judgements, eslimalos and assumptions aboul thè carrying value of assets and liabilities Ihal are not readily apparent from other sources. The eslirnales and underlying assumptions are based on historical experièncè and other factors that are considered lo be rèlevant. Actual fesulls may differ from the 8stimales. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised il the revision affects only that peiiod, or in tho period ol the revision and fulurè periods il the revision affects bolh current and future periods. Management Gonsider the following to be key sources ol eslimalion uncertainty vthich would have a significant effect on thè amounts recognised in the financial slalemenls: i. A number of actuarial assumptions are used lo quantify the Group's pension assevliabilily in rèspect of defined benefit pension %hemes. Further inlormalion concerning these assumptions can be foLFnd in note 23. ii. The Charity Company piovides for a dilapidations provision in respect of premises leased under operating leases that inGlude end of18ase rectification clauses. More delailed explanations for the basis ol the provision Gan bg found in note 22. iii. Depreciation charges for assels with a nel book value of £4.5 million are included in the Stslemant of Financial Aclivilies based on the estimated useful economic life ol fixed assets. FINANCIAL ACTIVITIES OF THE CHARITY The financial aGlivilies shown in the Gloup Slalernenl ol Financial Activities include those ol the Charilable Company's wholly owned subsidiary Mytime Enterprises Limited. A summary of the financial activities undertaken by the Charitable Company is sel out below.. 31.3.24 31.3.23 Gross incoming resources Total expendilure on charitable activities 25,088,176 24,232,575} 22,349,776 22,695,934) Net incoming Tesources Actuarial (lossllgain on defined benefit pension scheme 855,601 63,000} 1346,1581 465,000 792,601 118,842 INCOMING I (OUTGOING) RESOURCES FROM COMMERCIAL TRADING OPERATIONS A summary of the trading results of the tholly owned subsidiary Mylime Entèrprises Limited is shown below.. 31.3.24 31.3.23 Turnover Cost of sales and administration costs Gift aid donation 463,452 1284,0571 179,3951 559,688 {459,7541 99,9341 Nèl profil Page 25
MYTIME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 PROFIT I LOSS OF THE PARENT COMPANY As permitted by section 408 of the Companies Act 2006, the income and expenditure accovnl ol the parent Charitable Company is not presented as part of these financial slalemenls. The parenl Charitable Company's nel incomingloul90ing resources after actuarial gainsllosses under defined benefit pension schemes lorthe financial year was a surplus of £792,601 12023.. £118,842 surplus). INCOMING RESOURCES FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Op8ralion of lèisure, recieation siles and health activities Other funding 24,152,914 21,928,422 505,248 230,479 24,658,162 22,158,901 Income from charitable activities was £24,658,16212023.' £22,158,901) of which £350,78912023.' £113,983) was attribulabl& lo reslricted funds and £24,307,373 {2023'. £22,044,918} wa5 allribvlable lo unreslricled funds. INVESTMENT INCOME 31.3.24 31.3.23 Deposit account interest 250,619 90,941 All ol the group's investment incomè arises from interest bearing deposil accounts. Income from investments was £250,619 12023.. £90,941) ol which £nil12023.' £nil) was allribulable lo reslricled funds and £250,61912023'. £90,941) was attributable lo unreslricled funds. RESOURCES EXPENDED ON CHARITABLE ACTIVITIES COSTS Direct Costs Direct Staff Costs Support Costs (seè note 81 31.3.24 Total Charitable Activities 31.3.23 Total Charitable Activilies Leisure, recreation and health activities 11,465,508 9,440,142 3,326,925 24,232,575 22,695,934 £261,17412023.. £181,834) of the above costs were attributable lo reslricled lunds and £23,971,40112023'. £22,514,100101 the above costs were allribulable lo unresliicted funds. Page 26
MYfiME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS Supporl costs, included in the above, are as follovr6'. 31.3.24 31.3.23 Operation ol Operation ol leisure, leisure, recreation siles reGrealion siles and health and health aclivilie5 acliwties Wages Pièmises expenses Motor and travel Overheads Service charges Legal and professional including governance costs Consullanls Depreciation ol tsngible assets Interest 1,980,187 1,966,573 900 30,009 469,437 50,744 7,568 265,797 170,364 936 29,510 633,075 56,763 14,714 434,460 95,265 82,951 3,326,925 2,962,328 All suppjrt costs relate lo the sole aclivily of thè Charitable Company, being the provision ol leisure, iecrealion and health services. GOVERNANCE COSTS 31.3.24 31.3.23 Auditors, remuneration Audilors, rèmuneration for non-audil wofk 24,410 8,150 19,530 7,165 32,560 26,695 10. NET IOUTGOINGI RESOURCES Net resouices arè slated after chargingl Icrediling): 31.3.24 31.3.23 Auditors, remuneration Auditors, remuneration for non-audil work Depreciation- owned assels Hire of plant and machinery Cost of slocks recognised as an expense Lossl (Surplus) on disposal ol fixed assets Defined Contribution Pension Costs 24,410 8,150 861,188 276,704 1,318,871 15861 336,368 19,530 7,165 940,390 215,549 1,164,652 293,953 Page 27
MYTIME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REMUNERATION AND BENEFITS 11. The Trustees neither received nor waived any emoluments during the year. Trustees, Expenses During thè year, rèimbursed expenses amounting lo £nil {2023.. £Nil) in lolal were paid lo nil12023= 01 Trustees. 12. STAFF COSTS 31.3.24 31.3.23 Company Wages and salariès Social security costs Defined benefit pension ¢osls Olhei pension costs 10,330,977 727,672 12,000 349,680 9,799,874 714,130 35,000 314,221 11,420,329 10,863,225 Subsldlary Wages and salaries Social secufily costs 98,216 8,969 107,185 212,347 23,186 235,533 11,527,514 11,098,758 Included in wages and salaries are settlement payments lolalling £15,805 in respect 012 individuals12023.. Enil}. Indiwdually, the paymènts weie for £14,805 and £1,000. The average monthly number ol employees during the year was as follows.. 31.3.24 31.3.23 Seniof managemont Leisure, recreation & health aclivilias Support 590 51 62 651 646 The average monthly nvrnber of employees dltring the year, expressed as full lime equivalents was as follow5.. 31.3.24 31.3.23 Senior management Leisure, recrèation & health activities Support 305 53 309 50 363 364 The tolal amount ol employee benefits received by key management personnel is £509,84612023'. £463,413). The Irusl considers ils key managemènt personnel to comprise ol the executive directors ol Ihe charitable company as detailed on page Page 28
MrriME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 12. STAFF COSTS. ¢ontlnued The nurnber ol employees whose emoluments fell wlhin the followin9 bands was: 31.3.24 31.3.23 £60,001- £70,000 £70,001- £80,000 £80,001- £90,000 £90,001- £100,000 £120,001- £130,000 £130,001- £140,000 Emolumenls lor the purpose ol this disclosurè include gross salary but exclude employers national insurance and pension conlribulions. The number ol employees earning in èxcess of £60,000 Ifor the yearl to whom r&tiremenl benefits are acGruing'. 31.3.24 31.3.23 13. TAXATION Thè Charitable Company paid no corporation tsx during the year. Provisions lor £12023.. £Nill have been made al 31 March 2024 for corporation lax due in rèspect of Ihe surplus from trading acliwlies recorded in the year ended 31 MaTch 2024. During (he yèar ènd&d 31 Ma¥ch 2024 all trading acliwlies were conducted by the ollY 0ed subsidiary, Mytime Enlerprises Limited. 14. TANGIBLE FIXED ASSETS Group and company Equipment, plant and fittings Improvements lo property Computer equipment Motor vehi¢18S Totals COST Al1 April 2023 Additions Disposals Reclassification 10,615,120 8,540,186 397,487 1127,1131 33,695 2,384,868 64,573 {969} 21,573,869 462,060 {187,5291 151,239) 18,2081 At 31 March 2024 10,563,881 8,810,560 25,487 2,448,472 21,848,400 DEPRECIATION At1 April 2023 Charge for year Eliminated on disposal 6,627,031 408,591 41,668 7,818,188 354,763 127,1131 33,695 2,164,163 97,834 16,643,077 861,188 177,0371 8,2081 Al 31 March 2024 6,993,954 8,045,838 25,487 2,261,950 17,327,229 NET BOOK VALUE Al 31 March 2024 3,569,927 764,722 186,522 4,521,171 Al 31 March 2023 3,988,089 721.998 220,705 4,930,792 Page 29
MYfiME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 15. FIXED ASSET INVESTMENTS Company Shares in group undertakings MARKET VALUE At1 April 2023 and 31 March 2024 NET BOOK VALUE Al1 April 2023 and 31 March 2024 There were no inveslmènl assets outside Ihe UK. The company's inv8slmenls al the balance sheet date in the share capital of companies included the followng.. Mytlme Enterprlses Llmlted {company number 048510041 . Audlt Èxèmptlon has been clalmed in respect of the entlty's Individual accounts In accordance with se¢tlon 479A of the Companles Act 2006. Mytime Actlve has guaranteed all of the Ilabllltles of the company. Nature of businèss.. Sale of food and beverages and Ihè provision of catering services Class ol share.. Ordinary holding 100 31.3.24 31.3.23 Aggiegale capiial and rèsèrves Profil for the year 179,395 99,934 16, STOCKS Group Company 31.3.24 31.3.23 31.3.24 31.3.23 Slocks 126,609 127,815 126,609 127,815 17. DEBTORS,. AMOUNTS FALLING DUE WITHIN ONE YEAR Group Company 31.3.24 31.3.23 31.3.24 31.3.23 Trade debtors Amounts owed by gfOUP undertakings Other debtors Prepaymenls and accrued income 203,722 194,245 203,722 36,071 194,245 36,072 930,915 534,356 930,915 534,356 1,134,637 728,608 1,170,708 764,680 Page 30
MYfiME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR Group Company 31.3.24 31.3.23 31.3.24 31.3.23 Other loans (see note 20} Tradè creditors Social security and other taxes V.A.T. Other ciedilors Delerred income Accrued expenses 427,367 686,339 175,069 110,415 348,548 960,657 2,166,290 478,000 125,098 159,116 118,234 785,132 1,030,113 2,517,672 427,367 686,339 175,069 110,415 348,548 960,657 2,166,290 478,000 125,098 159,116 118,234 785,132 1,030,113 2,517,672 4,874,685 5,213,365 4,874,685 5,213,365 Deferred income relates lo memberships paid in advance which were received in ihe cijrrenl year. The amount deferred al 31 March 2023 has been released lo the Slat6menl of Financial A¢livilies in full. Barclays Bank PLC ha5 a lixed charge ovei the assets ol the company created on 21 July 2015 in respecl of the banking facilities that il extends lo the Group. A further fixed Gharge over Ihe assets of the company was Crealed on 31 January 2021 by Barclays Bank PLC in respect of a new overdraft faeility. A Twsl Deed dated 16 May 2011 was also in place in respect of the amounts paid lor payable} lo Zurich Insurance Public Limited Company Isoulhampion performance bond). This charge was satisfied on15 FebNary 2024. CREDITORS,. AMOUNTS FALLING DUE AFTER MORETHAN ONE YEAR Group Company 31.3.24 31.3.24 31.3.23 31.3.23 Othèr loans (see note 20} 337,320 337,320 20. LOANS The Charilab18 Company has a loan with London Borough of Bromley for the cryslallised pension deficil which commenced on 31 March 2019. The loan was repayable over 8 years in inslalmenls. Interest was Chargeable a16010 pèr annum. From Maich 2021 no inlèresl is charged. From October 2022 intèrest charges recommenced. An analysis ol thè malurily ol loans is given below.. Group Company 31.3.24 31.3.23 31.3.24 31.3.23 Amounts falling due wlhin one year on demand.. Other loans 427,367 478,000 427,367 478,000 Amounls falling dtje betwèèn one and Iwo years.. Other loans 337,320 337,320 Amounts falling due betwe&n two and five yeais.. Other loans Amounts falling due in more than five years.. Other loans 427,367 815,320 427,367 815,320 Page 31
MYTIME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 21. OPERATING LEASE COMMITMENTS The folloving operating lease payments are committed lo be made wilhin the specified periods.. Group and company Land and buildings 31.3.24 31.3.23 Equipment 31.3.24 31.3.23 Amounts lo be paid.. Within one year Between one and live years In more than five years 1,657,115 7,764,576 163,782,958 1,656,296 7,320,341 165,884,308 142,303 419,854 1,520 173,204,649 174,860,945 562,157 1,520 22, PROVISIONS FOR LIABILITIES Group and company 31.3.24 31.3.23 Provisions lor dilapidations 536,601 374,899 The Charitable Company's premises are leased under operating leases. The majority of leases include end of lease re¢lifi¢alion clauses which impose certain requiiemenls on the Charitable Company lo ¢omplèle repairs and maintenance or re-decoration activities if required. The Charitable Company provides lor repairs and maintenance obligations as it becomes aware of any si9nificanl amounts that wll be required. The Charitable Company does not prowde for amounts ere the potential exposure cannot be reliably measured and accordingly does not anticipate potential repairs and maintenance. Additionally Ihe Charitable Company maintains the cefilr8s lo a high slandald and completes any necessary repairs and maintenance on a timely basis, addressing any events that require expenditure throughout Ihe lease period as and vAien required. Such costs ale expensed as incurred. 23. EMPLOYEE BENEFIT OBLIGATIONS The Charitable Company operates defined benefit pension schemes for some employees. The Charilable Company has admitted body status to tho pension lunds. Contributions lo the schemes are charged lo the Slal8menls ol Financial Aclivilies so as lo spread the cost ol pensions over employèès, working lives with the Charitablè Company in such a way Ihal thè pension cosl is a subslanlial lèvel percenlage of lulure pensionable payroll. Actuarial valuations ol the schemes are performed by a qualified actuary using the projected unil method. The most recent formal valLEations of the schemes were al 31 March 2022 and this has been updated lo 31 March 2024. Defined benefit pension plans 31.3.24 31.3.23 Present value of funded obligations Impact of asset ceilin9 Impacl of cessation of Kent scheme Fair value of plan assets 11,625,000) 1486.0001 173,0001 2,184,000 11,561,000) 1408,OQOI 2,026,000 57,000 Present valuè of unlunded obligations ID&ficit}Isurplus 57,000 Nel Iliabilityllasset 57,000 Page 32
MYfiME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 23. EMPLOYEE BENEFIT OBLIGATIONS. ¢ontlnued The amounts recognised in the slalemenl ol financial activities are as follows.. Defined benefit pension plans 31.3.24 31.3.23 Current servicè cost Past service cosl Net interest cost Adminislratton expenses 18,000 42,000 {18,0001 14,000 56,000 Actual return on plan assets 164,000 105,000) The amounts recognised in other comprehensiv8 income are a5 follows.. Defined benefit pension plans 31.3.24 31.3.23 Acluarial Ilossesl I gains 402,0001 465,000 402,000 465,000 Changes in the presènt value ol the defined benefit obligations are as lollows.. Defined benefit pension plans 31.3.24 31.3.23 Defined benefit obligation Curienl setmce cost Past service cost Contributions by scheme parbcipanls Interest cost Re-measuremenl Ilossesl I gains Benefits paid Cessation of Kent scheme 11,561,000) 118,0001 12,588,000) 142,000} (6,0001 (74,0001 16,000 18,000 313,000 17,000} 167,000} 1,036,000 107,000 1,312,000} 1,561,000) Changes in the fair value of scheme as5els are as follows.. Defined benefil pension plans 31.3.24 31.3.23 Fair value ol scheme assets Contributions by employèr Contributions by scheme participants Interest on plan assels Re-measuremenl 9ains l {lossès) Benefits paid Cessation ol Kent scheme 2,026,000 6,000 6,000 92,000 72,000 118,000} 386,0001 2,224,000 7.000 7,000 53,000 1158,0001 1107,0001 1,798,000 2,026,000 Page 33
MYfiME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 23. EMPLOYEE BENEFIT OBLIGATIONS- continued The major categories of scheme assets as a percentage of lolal scheme assets are as follows.. Defined bgnefil pènsion plans 31.3.24 31.3.23 Equities Bonds Cash Other Property 15.99Yo 1.2310 1.100 7.37Q 7.36Y. 100.001. 100.00% Principal actuarial assumptions al Ihe balance sheet dale.. 31.3.24 31.3.23 4.8501. - 4.95% 4.700/0- 4.80% 3.75Yo . 3.85Q/o 3.70'/.- 3.90% 2.75Y,- 2.85% 2.70Yo- 2.90% 2.75010- 2.850kn 2.70%_ 2.90% Discount rale Future salary increases Future pension increases Piice in¢rèases The following table sets out the sensitivily analysis produced by the actuary reporting in respect of the Hampshire County Fund= Central 0.1Y. discount rale +0.1Yo pay 9rovrth l year increase in life expectancy Present Value ol lolal obli9ation 1,312,000 1,337,000 1,313,000 1,364,000 Page 34
MYfiME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 23. EMPLOYEE BENEFIT OBLIGATIONS- contlnued Defined benefit pension plans Amounts lor the current and lasl live periods arè as follows.. 31.3.24 31.3.23 31.3.22 (1,312,000) {1,561,0001 12,588,000) 1,798,000 2,026,000 2,224,000 {486,000} 1408,0001 57,000 31.3.21 31.3.20 12,717,Cx)01 {3,094,000} 2,088,000 2,590,000 Defined benefit obligation Fair value of scheme assèts Impact ol assot coiling (Delicilllsurplus Experience adjustments on scheme assets Experience adjlfrslmenls on scheme liabilities {364,0001 1629,000} 1504,000) 141,000) 139,0001 Followng the loss ol the Coblree conlracl the former arrangements in rèspect of the Kent County Council Pension Fund were Iransferred to Ihe new operators on 30th September 2023. Employer conlfibulion rale lor the year ending 31 Mafch 2025 for Hampshire is 21Ok. 24. CONTINGENT LIABILITIES Thè Charitable Company has contingènt liabilities in respect of a Performance Guarantee amounting lo £nil12023.'£107,1411 in respect ol a performancé bond wlh Southampton council. The bond was seGured by a Trust Deed dated 16 May 2011 witt) amounts paid or payable to Zurich Insuxance Public Limited. This bond was ieleased in Ihe pèriod and the associated Gharge satisfied on15 February 2024. Page 35
MYTIME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 25. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.24 Total funds 31.3.23 Total fund5 Group Unreslricled Restricted funds fund Fixed assets Current assels Current liabilities Long term liabililies Provision lor liabilities Pension liability 4,521,171 6,278,244 14,874,685) 4,521,171 6,405,943 14,874,685) 4,930,792 5,661,019 15,128,365} 1422,3201 1374,8991 57,000 127,699 1536,6011 1536,6011 5,388,129 127,699 5,515,828 4,723,227 31.3.24 Total funds 31.3.23 Total funds Company Unreslricled ReslriGled funds fund Fixed assels Invèslm8nts Current ass8ls Currènt liabilities Long term liabilities Provision for liabilities Pension asset 4,521,171 4,521,171 4,930,792 6,278,243 14,874,685) 127,699 6,405,942 14,874,685) 5,661,018 15,128,365) {422,3201 {374,8991 57,000 1536,601} 1536,601) 5,388,129 127,699 5,515,828 4,723,227 Comparative information in respect of the preceding period is as follows.. 31.3.23 Total funds 31.3.22 Total funds Group Unreslricled Reslricled funds fijnd Fixed assels Curient assets Current liabilities Long term liabililies Piovision lor liabilities Pension liability 4,930,792 5,555,173 15,128,365) {422,3201 1374,8991 57,000 4,930,792 5,661,019 15,128,365) 1422,3201 {374,8991 57,000 5,209,379 5.751,837 14,865,461) 1815,320} 1312,050} 364,000} 105,846 4,617,381 105,846 4,723,227 4,604,385 31.3.23 Total funds 31.3.22 Tolal funds Company Unreslricled Restricted funds fund Fixed assets Invèstments Current assets Current liabilities Long term liabilities Provision lor liabilities Pension liability 4,930,792 4,930,792 5,209,379 5,555,172 {5,128,3651 1422,3201 1374,899) 57,000 105,846 5,661,018 15,128,365) 1422,3201 1374,8991 57,000 5,747,116 14,860,741) {815,3201 {312,0501 364,0001 4,617,381 105,846 4,723,227 4,604,385 Pa9e 36
MYTIME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 26. MOVEMENT IN FUNDS Group Nel mov8menl in funds Al1.4.23 Al 31.3.24 Unrestricted fund5 General fund 4,617,381 4,617,381 770,748 770,748 5,388,129 5,388,129 Re8trlcted funds Active Lileslyles MyFului& Arts train Healthy Ageing Programme Gel Active ENNS Together Fund 67,762 167,7621 95,777 {13,5841 {9,0341 95,777 9,265 3,942 2,259 10,492 5,964 22,849 12,976 2,259 10,492 5,964 105,846 21,853 127,699 TOTAL FUNDS 4,723,227 792,601 5,515,828 Company Nel movement in funds Al1.4.23 At 31.3.24 UnrÈstrlcted funds General fund 4,617,381 4,617,381 770,748 770,748 5,388,129 5.388,129 Restrlcted funds Active Lifestyles Come and Play Arts train Healthy Ageing Programme Gel Aciive ENNS Together Fund 67,762 167,7621 95,777 113,5841 19,0341 95,777 9,265 3,942 2,259 10,492 5,964 22,849 12,976 2,259 10,492 5,964 105,846 21,853 127,699 TOTAL FUNDS 4,723,227 792,601 5,515,828 Page 37
MYTIMEACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 26. MOVEMENT IN FUNDS- contlnued Comparative inlormalion in respect of the preceding period is as follows.. Group and Company Nel movement in ftjnds Al1.4.22 Al 31.3.23 Unrestrictèd fund8 General fund 4,430,688 4,430,688 186,693 186,693 4,617,381 4,617,381 Restrlcted funds A¢livè Lifestyles MyFulure Arts train Healthy Ageing Programme Active Bromley Get Adive 67,762 5,456 78,013 20,610 {5741 2,430 67,762 15,4561 155,1641 17,6341 574 171} 22,849 12,976 2,259 173,697 167,851} 105,846 TOTAL FUNDS 4,604,385 118,842 4,723,227 Nel movement in funds. included in the above are as follows.. Group Income ExpendiluTe Gains, losses and transfers Movement in funds Unrestricted funds General fund 25,021,444 25,021,444 24,255,458 124,255,458) 4,762 4,762 770,748 770,748 Restrlcled funds Active Lifestyles Come and Play Arts Train Heallhy Ageing Progfamme ENNS Togelher Fund Changing spaces 167,7621 167,762) 95,777 113,5841 19,034) 10,492 5,964 95,777 91,632 1,451 14,549 7,380 140,000 1105,2161 110,485) 14,057) 11,4161 140,0001 350,789 1261,1741 167,7621 21,853 TOTAL MOVEMENT IN FUNDS 63,0001 792,601 Page 38
MYfiME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 26, MOVEMENT IN FUNDS- contlnued Company Income Expenditur8 Gains, losses and Iransfèrs Movement in funds Unre8trlcted funds General fund 24,737,387 23,971,401} 4,762 770,748 24,737,387 123,971,401) 4,762 770,748 Restricted funds Adive Lileslyles Come and Play Arts train Healthy Ageing Programme ENNS Together Fund Changing spaces 167,762) (67,7321 95.777 113,5841 19,0341 10,492 5,964 95,777 91,632 1,451 14,549 7,380 140,000 1105,2161 110,4851 14,0571 11,416} 140.000} 350,789 1261,174) 167,7621 21,853 TOTAL MOVEMENT IN FUNDS 25,088,176 24,232,575) 63,0001 792,601 Comparative information in respect of the preceding period is as follows- Group Income Expenditur8 Gains, losses and Ifansfers Movèm8nl in funds Unrestricted funds General fund 22,695,547 22,973,854) 465,000 186,693 22,695,547 {22,973,854} 465,000 186,693 Reslrlcled funds MyFulure Arts train Healthy A9eing Programme Active Bromlèy Gel Active 15,456} 1152,486} 114,311} 19,410} 171} 15,456) 155,164} 17,634} 574 97,322 6,677 9,984 113,983 1181,834) 167,851) TOTAL MOVEMENT IN FUNDS 22,809,530 23,155,688) 465,000 118,842 Page 39
MYfiME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 26. MOVEMENT IN FUNDS- contlnued Comparative inlofmalion in respect of the preceding period is as follows.. Company Income Expendilure Gains, losses and transfers Movement in funds Unrestricted funds General fund 22,235,793 22,514,100} 465,000 186,693 22,235,793 122,514,100) 465,000 186,693 Restrlcted fund$ MyFvlure Arts train Healihy Ageing Programme Active Bromley Gel Active 15,4561 1152,4861 114,3111 19,4101 15,4561 155,164} 17,6341 574 1711 97,322 6,677 9,984 113,983 1181,834) {67,8511 TOTAL MOVEMENT IN FUNDS 22,349,776 22,695,934) 465,000 118,842 Transfers Transfers of £67,762 from restricted funds lo unreslricled fijnds fepfesenls a misallocation of costs on the A¢live Lileslyles fund. This Pfojectwas in fact completed in 2009110, howeverlhe expendilure was previously incorrectly recorded. The transfer has therefore bèon incltjded lo bring this reslricled fund back down lo £nil as there are no furthèr amounts lo carry lorward in the fund. Actlve Lifestyles Funding for referral programmes for heallhy lifestyles in partnership with local public health and primary care. MyFuture MyFuture is a Sports Oulreach programme WOfkin9 in largeled areas of Bromley lo provide quality activities for young people aged 11-19. The parinership includes Mytime Active, the London Borough ol Bromley, Clarion Housing Association and the Harris Academy Orpington. The programme offers free aclivily sessions each week. Arts Traln This is a borough-wde project which gives young people acc8SS to a diverse range of creative music-making opportunities. Fund8rs and partners includè Youth Music, Ari Council England and Clarian Housing Association. Healthy Ageifig Programme Funding sourced through a rangè of partners, including Pro Active Bromley lo incfea5è physical aclivily opportunities for older people. Active Bromlèy Funding sourced through Ihe Community Lollery Fund via Community Links Bromley lo encoulage and support older people impacted by Covid into a slruclured, sale, weekly physical activity program Get Actlv8 A project funded by England Golf to inci&aso the number ol black and minority community groltps and individuals into golf in Biimingham. ENNS A project lo increase participation and promote healthier lifestyles, primarily aimed al over 50's bul also those with additional needs. Changlng Spaces Funding lo open accessible toilet and changing facilities in the London Borough ol Bromlèy. Comè and Play Funding lo provide a mass vaccination cenlrè al the Glades shopping Genlre for the benefit ol the ppIe of Bromley. Together Fund A pfojecl funded by Birmin9ham Sport and Physical Activity Trust lo provide a12 week gym on ièlerral programme, and a 6 week goll on referral programme, aimed al introducing inactive people lo physical aGlivity. Page 40
MYTIME ACTIVE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 27. CAPITAL COMMITMENTS The group has commilments in accordance th its leases vilh the London Borough ol Bromley lo implemenl a program of ¢apiial improvements to leased property wlhin the first 5 years ol the updated lease, effective Iiom 1 April 2019. The leases do not specify an amount of investment requiied, bul an agreemenl alongside the leases does indicate that the pro9ram is likely lo be in the region of £2.5m. Myb'me Active has spent approximately £1.1m on the required program up lo 31 March 2024 and thè dètails ol this spend have been shared with the lessor. Al 31st March 2024 capital expenditure aulhorised bul not ¢onlracled lor amounted lo £454,939 {22123 £132,000). 28. LEGAL STATUS The Charity is a Company limiled by guaranle8 and has no share capilal. The liability of each mèmbei in the evenl ol wnding up is limited lo £1. 29. RELATED PARTY TRANSACTIONS Trustee M¥ J Shakespere was a Director ol Research, Policy and Communicalions al ukactive up until his resignation in June 2023. Transactions relale lo M8mbership and MPLC Licence fees paid lo ukaclive. Licence fees Ver music and films broadcast al our lacililies. These purchases lolalled £6,526 and a balance of £24,346 was due lo ukactive al 31 Mareh 2024. Trusteè Cllr R Evans is a Director of the Impacl Mulli-Acad8my Trust. Transactions relate lo the hire of sports facilits&s by the academy Irusl. These sales lolalled £457 and a balan¢è of£nil was due lo Mytime Active at 31 Mar¢h 2024. 30. ULTIMATE CONTROLLING PARTY There is no ullimale controlling party. The Board of Trustees and Ihe managemènt team are responsible lor the strategic and opeTalional decisions ol the Charitable Company. Page 41