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← Dacorum Sports Trust

2025-03-31-accounts

Charity registration number 1103980

Company registration number 04868497 (England and Wales)

DACORUM SPORTS TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

DACORUM SPORTS TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J E Blackburn
B E Edwards
J Gillan
B R Doe
A Taylor
Secretary G Sinclair
Key management personnel G Sinclair (Chief Executive)
Charity number 1103980
Company number 04868497
Registered office The Arena
Stafferton Way
Maidenhead
Berkshire
United Kingdom
SL6 1AY
Auditor Azets Audit Services
Gladstone House
77-79 High Street
Egham
Surrey
United Kingdom
TW20 9HY

DACORUM SPORTS TRUST

CONTENTS

Page
Trustees report 1 - 6
Statement of Trustees responsibilities 7
Independent auditor's report 8 - 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 25

DACORUM SPORTS TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report and financial statements for the year ended 31 March 2025.

The Trustees confirm that they comply with the requirements of the Charities Act 2011, as amended by the Companies Act 2006, the Memorandum and Articles of Association and the Charities Statement of recommended Practice (SORP) 2019.

Chair’s Report

This report covers a period of April 2024 to March 2025. This is the second full year of operating the Dacorum Sports Trust (DST) within the Absolutely Together Group.

DST operates three facilities within Hemel Hempstead; Little Hay Golf Complex, Our Gym and The XC.The three sites are now fully integrated into the wider Charity and add a valuable dimension to the operation and skills of the Group. The senior management team continues to develop a more commercial approach to the sites and the management teams within them.

During the year the following improvements and developments were implemented: A new skate good shop was installed at XC. The reception area and toilets at Little Hay Golf Complex were redecorated and refurbished. Refurbished the Driving Range canopy and upgraded the lighting.

In August 2024 the Little Hay Golf Complex suffered a significant fire within the greenkeepers’ hut. This fire is believed to have been started deliberately and destroyed all the equipment and machinery needed to maintain the course, as well as severely damaging the building itself. Nobody was injured. Through the dedication and hard work of the team on site the course remained open and all the immediately needed equipment was able to be hiredin. Eventually all machinery and equipment has been replaced through an insurance claim. The Council is yet to start work replacing the building which is beyond viable repair.

The Board of Trustees meets bi-monthly as part of the Group Board Meeting timetable. The Charity continues to engage positively with the local authority and has built a stronger and trusted relationship. It remains our intention to focus on children, and now also young adults, with additional needs, continually and permanently, and to further embed our programmes into every community we work in – putting smiles on faces.

I, and my fellow Trustees, would like to thank the staff of the Charity, our stakeholders and of course our customers, for supporting Dacorum Sports Trust and making our work possible.

Jennifer Blackburn

Chair

Objectives and activities

Dacorum Sports Trust is a wholly owned charity that exists to provide or assist in the provision of facilities and services for recreational or other leisure time occupation in the interests of social welfare. Such facilities being provided to the public at large save that special facilities may be provided for persons who by reason of their youth, age, infirmity or disability, poverty or social or economic circumstances may have need of special facilities and services.

Additionally, the Charity aims to promote and preserve good health through community participation in healthy recreation and / or such other charitable purposes beneficial to the community consistent with the objects of the charity.

Achievements and performance

The Charity is very proud to have continued to serve the needs of the Hemel Hempstead community, providing first class leisure provision.

DACORUM SPORTS TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The development of the Smiles programme has been hugely successful and has received great feedback from parents and children. The Council, both members and officers, have also praised the initiatives we have put in place.

The merger with Absolutely Together has brought financial stability to the Charity and halted the continual negative cash flow. Throughout the year the Charity stayed within its financial obligations to its banks, and it is pleasing that a small surplus has been achieved for the financial year.

The Charity receives no local authority or government funding and relies on grants and donations to support its programmes. Without this support, the Charity would not be able to deliver the breadth and scale of activities to its beneficiaries.

Financial review

Trustees are pleased to report that DST has made a surplus for the second successive year. The Charity was able to award all staff not receiving minimum wage increases, an annual increase in pay of 4%. Whilst this was below inflation staff were understanding and grateful for the increase.

Reserves Policy

The Board has an aspiration to increase its reserves as part of the Group to a level of £250,000 over the next 4 years, whilst recognising that during these extraordinarily turbulent times maintaining a consistent reserve will be challenging.

Risk Management

The members of the Board have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Board members confirm that the major risks to the Charity have been reviewed and that systems or procedures have been established to manage those risks. The Board of Trustees reviews and updates the Risk Register at every Board Meeting and management work to mitigate risks identified. Risks that have emerged this year include the continued increase in the National Minimum Wage and the risk that the government may continue to increase indirect taxes such as National Insurance contributions.

Plans for future periods

The Trustees are committed to improving not just the financial performance of the 3 sites it operates, but also to extend its offering to the people of Hemel Hempstead and Dacorum Borough.

The Trustees have committed to growing the reach of the Charity and to delivering the programmes of Absolutely Together in every community that the Charity works in. Additionally the Trustees want to continue to offer ‘enabling support’ to complementary community groups and charities through the use of our venues.

Key to the future success of DST will be to positively engage with the Council at all levels, to retain its lease to manage Little Hay Golf Complex, and to redevelop the XC to make it more appealing to a wider audience

DACORUM SPORTS TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management

The Board of Trustees are also Directors of the parent company Absolutely Together and the wholly owned limited company and subsidiary Absolutely Together Trading. Where a taxable profit is made by the subsidiary this is gifted to the Charity. The Board met for formal meetings 6 times during the year to oversee the management and administration of the Charity, and to receive regular updates on various aspects of the Charity’s activities from the Management Team.

New trustees are invited to attend and observe at least 2 Board Meetings before confirming their acceptance to become a trustee. During the year the Board completed skills audit to help inform trustee recruitment. This identified the need for legal experience among new trustees’ skillsets.

The Charity utilises the Absolutely Leisure Management Team, led by the Chief Executive. The team meets weekly to review the overall performance of the Charity, and to plan and implement necessary actions. The Management Team includes Operations, Finance, People Management, Health and Safety and Business Development functions. A quarterly meeting is held with the wider management team to discuss and plan future activities. Two junior managers are invited to attend each quarterly meeting to gain a better insight into the Charity and its management.

Governing document

The Charitable Company is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

J E Blackburn

B E Edwards

J Gillan B R Doe A Taylor

Recruitment and appointment of new Trustees

In exercising its powers to nominate, appoint, reappoint, elect, re-elect, approve and dismiss member, the members shall seek to ensure that the board is representative of the local community and also comprises persons with a broad range of skills who are likely to contribute to the Charity's success.

Board members induction and training

New trustees are invited to attend and observe at least 2 Board Meetings before confirming their acceptance to become a trustee. During the year the Board completed skills audit to help inform trustee recruitment. This identified the need for legal experience among new trustees’ skillsets.

All new members joining the Board received a full induction that is aimed at training them in their statutory responsibilities under Charity and company law. The induction will normally include:

DACORUM SPORTS TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Organisation structure & how decision are made

The Board of Trustees has responsibility for administering the charity. The Trustees have appointed a Chief Executive Officer to manage the operations of the Charity, The Board has agreed to delegated powers to manage this arrangement.

The Management Team, led by the Chief Executive, meet weekly to review the overall performance of the Charity, and to plan and implement necessary actions. The Management Team includes Operations, Finance, People Management, Health and Safety and Business Development functions. A quarterly meeting is held with the wider management team to discuss and plan future activities. Two junior managers are invited to attend each quarterly meeting to gain a better insight into the Charity and its management.

Governance and Management

The Charity utilises the Absolutely Leisure Management Team, led by the Chief Executive. The team meets weekly to review the overall performance of the Charity, and to plan and implement necessary actions. The Management Team includes Operations, Finance, People Management, Health and Safety and Business Development functions. A quarterly meeting is held with the wider management team to discuss and plan future activities. Two junior managers are invited to attend each quarterly meeting to gain a better insight into the Charity and its management.

Setting of pay

The People Development Scheme is a company policy that endorses all pay rate levels. The Board approves any pay rises on an annual basis and these are then confirmed with the policy.

The pay of the Chief Executive is set in line with an historical survey of similar sized and complex organisations in the wider Third Sector, as well as in regard to the skills and experience of the post-holder. The Chief Executive sets the pay for his immediate team, based on the framework detailed within the Charity’s People Development Scheme, and again with reference to the skills ad experience of the post-holders.

Public Benefit Statement

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives, and in planning future activities.

As part of the Absolutely Together Group the Charity uses Absolutely Together programmes to provide free leisure activities to local families that have children with additional needs. These families are recognised as often facing the most challenges accessing leisure for many reasons. Our programmes provide free use of Dacorum Sports Trust activities, Absolutely Leisure activities, as well as donating vouchers for free access to other local “partner” leisure facilities.

Programmes run at every venue that we operate.

The Charity measures its targeted activities by the means of ‘Smiles’- each free activity we provide to a child with additional needs and their family, equates to a Smile.

We are delighted to report the successful completion of our second full year of Absolutely Together Activities within the Dacorum Borough. Over the past year, the programme has grown significantly, with more SEN schools taking part and an expanding network of local partners helping us to reach even more families in need of support. Our three facilities have continued to host free programmes for local families supporting children with additional needs, while Dacorum-based families have also benefited from free access to Absolutely Leisure facilities in the surrounding area and through other local leisure providers.

This comprehensive approach has enabled us to offer a wide-ranging programme with activities tailored to the needs of the families we support. During the year, we delivered over 12,000 Smiles to Dacorum-based families supporting children with Special Educational Needs (SEN), helping to reduce social isolation and improve mental well-being.

DACORUM SPORTS TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Activities provided this year have included:

1’000s of Smiles

Our 1’000s of Smiles programme enables us to provide an expanded programme beyond our own facilities. Although we did not receive specific grant funding towards the 1,000s of Smiles programme this year, we have been able to keep it running through our own fundraising initiatives and the generous support of local corporate partners.

The highlight of the programme came during the Christmas period, which can be an especially difficult and isolating time for families of children with additional needs. Thanks to our partnerships with the Ambassador Theatre Group and others, we were able to send 600 families to a Christmas show or pantomime at no cost to them. For many of these families, such experiences would not have been possible without our support, and the feedback we received reflected the joy and sense of inclusion these outings provided.

An increasing number of families are telling us that they find access to leisure activities restricted, with 82% of families we engage with reporting challenges. Encouragingly, our programmes are now receiving more positive feedback than ever before: 97% of participants in the 1,000s of Smiles programme say it has improved their families’ access to leisure, and 90% report an improvement in their overall wellbeing as a result.

The 1,000s of Smiles programme continues to play a vital role in breaking down barriers for families of children with additional needs, offering moments of happiness and connection at times when they are needed most.

Work Experience and School Access

This year we have expanded our programmes to include dedicated work experience opportunities, taking on five interns with additional needs across the charity. These young people have each spent three days a week working within a DST site while continuing their studies at college. The programme has been delivered in partnership with the Oakland College and the Collette school in Hemel Hempstead.

For many young people with Special Educational Needs (SEN), finding employment is one of the greatest challenges they face. Limited opportunities, a lack of tailored support, and the need for greater understanding from employers often result in barriers that prevent them from accessing the workplace. Our internship scheme is designed to break down these barriers by offering meaningful, structured work experience in a supportive environment, helping young people build confidence, develop practical skills, and prepare for future employment.

We are incredibly proud that at the end of this year’s 12-month programme, one of our interns has successfully secured employment within one of our facilities. This achievement demonstrates the real and lasting impact of the scheme, providing a pathway into work for young people with additional needs and showing what can be achieved when the right opportunities are made available.

DACORUM SPORTS TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Feedback from a teacher from the Collette School in Hemel Hempstead is shown below-

“Albie has been attending work experience at Our Gym for almost 2 years. During this time he has built excellent relationships with the staff team, who have been hugely supportive and encouraging. It has been fabulous to watch Albie's confidence grow over this time and he is always excited to talk about the experiences and opportunities he has been given during his work day. I know he has particularly enjoyed leading exercise sessions and demonstrating how to use various gym equipment. The gym team have provided Albie with excellent role models to enable him to develop a strong work ethic and gain the skills he needs to be successful at college and in the work place."

Auditor

In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustees report was approved by the Board of Trustees.

..............................

J E Blackburn Trustee

10 December 2025 Date: .............................................

DACORUM SPORTS TRUST

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees, who are also the directors of Dacorum Sports Trust for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DACORUM SPORTS TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DACORUM SPORTS TRUST

Opinion

We have audited the financial statements of Dacorum Sports Trust (the ‘Charitable Company’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charitable Company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

DACORUM SPORTS TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DACORUM SPORTS TRUST

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the directors of the Charitable Company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

DACORUM SPORTS TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DACORUM SPORTS TRUST

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Creasey (Senior Statutory Auditor)

17 December 2025 for and on behalf of Azets Audit Services .........................

Chartered Accountants Statutory Auditor

Gladstone House 77-79 High Street Egham Surrey United Kingdom TW20 9HY

DACORUM SPORTS TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income and endowments from:
Donations and
legacies
3
171,450
-
Charitable activities
4
2,503,052
-
Other income
5
518,050
-
Total income
3,192,552
-
Expenditure on:
Charitable activities
6
2,639,845
241,414
Net income/(expenditure)
for the year/
Net movement in funds
552,707
(241,414)
Fund balances at 1 April
2024
25,325
1,770,371
Fund balances at 31
March 2025
578,032
1,528,957		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
171,450
185,336
-
2,503,052
2,055,699
-
518,050
57,414
-
3,192,552
2,298,449
-
2,881,259
2,056,157
241,414
311,293
242,292
(241,414)
1,795,696
(216,969)
2,011,787
2,106,989
25,323
1,770,373		 Total
2024
£
185,336
2,055,699
57,414
Donations and
legacies
3
Charitable activities
4
Other income
5
Total income
Expenditure on:
Charitable activities
6
Net income/(expenditure)
for the year/
Net movement in funds
Fund balances at 1 April
2024
Fund balances at 31
March 2025
2,298,449
2,297,571
878
1,794,818
1,795,696

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

DACORUM SPORTS TRUST

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 11 1,946,324 2,309,174
Current assets
Stocks 12 12,835 10,217
Debtors 13 737,034 399,347
Cash at bank and in hand 100,673 51,328
850,542 460,892
Creditors: amounts falling due within
one year 15 (537,127) (538,016)
Net current assets/(liabilities) 313,415 (77,124)
Total assets less current liabilities 2,259,739 2,232,050
Creditors: amounts falling due after
more than one year 16 (59,845) (156,821)
Provisions for liabilities (92,905) (279,533)
Net assets 2,106,989 1,795,696
Income funds
Restricted funds 19 1,528,957 1,770,373
Unrestricted funds
Designated funds 20 585,090 277,261
General unrestricted funds (7,058) (251,938)
578,032 25,323
2,106,989 1,795,696

10 December 2025 The financial statements were approved by the Trustees on .........................

envider .............................. EC. .Qrecduounr J E Blackburn Trustee

Company registration number 04868497

DACORUM SPORTS TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
25
Investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Financing activities
Repayment of bank loans
Payment of obligations under finance leases
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(33,531)
(71,976)
-		 £
154,852
(33,531)
(71,976)
49,345
51,328
100,673		 2024
£
(11,067)
(77,060)
(3,771)		 £
72,810
(11,067)
(80,831)
(19,088)
70,416
51,328

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Dacorum Sports Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Arena, Stafferton Way, Maidenhead, Berkshire, SL6 1AY, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charitable Company is a Public Benefit Entity as defined by FRS 102.

Dacorum Sports Trust meets the definitely under FRS 102 of a public benefit entity.

The financial statements are prepared in sterling, which is the functional currency of the Charitable Company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Reduced Disclosures

In accordance with FRS 102, the Charitable Company has taken advantage of the exemptions from the following disclosure requirements:

The financial statements of the Charitable Company are consolidated in the financial statement of Absolutely Together. the consolidated financial statements of Absolutely Together are available from its registered office, The Arena, Stafferton Way, Maidenhead, Berkshire, SL6 1AY.

1.2 Going concern

At the time of approving the financial statements and based on the 2025 - 28 forecasts, the Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Restricted funds are used to account for situations where the donor required the funds must be spent on a particular purpose.

1.4 Income

All income on the Statement of Financial Activities is recognised when the Charitable Company is legally entitled to the income and the amount can be quantified with reasonable accuracy. Certain income is received in advance of the provision of the relevant service and as such is deferred until the service commences. Income for annual memberships is accounted for over the membership year.

Income from leisure activities are recognised as the related good and service are provided.

Income from grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probably that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

XC Building costs 20 years straight line
Leasehold improvements 10 years straight line
Plant and equipment 5 years straight line
Fixtures and fittings 5 years straight line
IT expenditure and software 3 years straight line
XC Fixtures and fittings 5 years straight line
XC IT expenditure 3 years straight line
Gym equipment 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Stocks

Stocks consists of food and drink used for catering and vending and merchandising stocks for resale to customers. Stocks are valued at the lower of cost and net realisable value. Other stocks are written off in the year of purchase.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.9 Financial instruments

The Charitable Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial assets and liabilities are recognised when the Charitable Company becomes a party to the contractual provisions of the instrument, and are offset only when the Charitable Company currently has a legally enforceable right to set off the recognised amounts and tends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Financial assets and liabilities

The Charitable Company's debtors and creditors that meet the definition of either a financial asset of a financial liability are initially recognised at the transaction value and thereafter are stated at amortised cost suing the effective interest method.

1.10 Provisions

Provisions are recognised when the Charitable Company has a legal or constructive present obligation as a result of a past event, it is probable that the Charitable Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the Charitable Company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

Leases

In categorising leases as finance leases or operating leases, management makes judgements as to whether significant risks and rewards of ownership have transferred to the Charitable Company as lessee.

3 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2025 2024
£ £
Donation from fellow group company Absolutely Together Trading Ltd 171,450 185,336

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

4 Charitable activities

Catering,
Operation of
Total		 Operation of
vending and
sports centres
2025		 sports centres
merchandising
and sports		 and sports
facilities facilities
2025 2025 2024
£ £ £ £
Customer sales 428,043 2,075,009 2,503,052 2,055,699
5 Other income
**Unrestricted ** Unrestricted
funds funds
2025 2024
£ £
Other income 518,050 57,414

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Charitable activities

Restricted
funds
Unrestricted funds
2025
2025
£
£
Staff costs
-
872,295
Depreciation
241,414
396,382
Marketing and publicity
-
13,485
Maintenance and cleaning
-
170,664
Gas, electric and water
-
169,768
Governance costs
-
20,500
Venue hire
-
235,783
Other operational costs
-
472,789
Overheads
-
1,813
Other staff costs
-
2,745
Insurance
-
67,400
Little Hay
-
216,221
241,414
2,639,845		 Total
Restricted
funds
Unrestricted
funds
2025
2024
2024
£
£
£
872,295
-
854,033
637,796
241,414
170,894
13,485
-
36,127
170,664
-
166,528
169,768
-
256,082
20,500
-
35,419
235,783
-
237,078
472,789
-
97,238
1,813
-
135,386
2,745
-
2,614
67,400
-
64,758
216,221
-
-
2,881,259
241,414
2,056,157		 Total
2024
£
854,033
412,308
36,127
166,528
256,082
35,419
237,078
97,238
135,386
2,614
64,758
-
2,297,571

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Auditor's remuneration

Fees payable to the Charitable Company's auditor and associates: 2025 2024
£ £
Audit of the Charitable Company's annual accounts 13,790 7,500

8 Trustees

The Trustees did not receive any remuneration during the year ended 31 March 2025 (2024: £nil). There were no Trustees' expenses paid for the year ended 31 March 2025 (2024: £nil).

9 Employees

The average monthly number of employees during the year was:

Leisure activities
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
52
2025
£
792,085
52,805
27,405
872,295		 2024
Number
48
2024
£
779,437
50,234
24,362
854,033

There were no employees whose annual remuneration was more than £60,000.

The remuneration of key management personnel is £Nil (2024: £Nil).

10 Taxation

No liability to UK corporation tax arose on ordinary activities for the year ended 31 March 2025 or the year ended 31 March 2024.

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

11
Tangible fixed assets
XC Building
costs
Leasehold
improvements
£
£
Cost
At 1 April 2024
5,289,469
1,251,802
Additions
-
-
At 31 March 2025
5,289,469
1,251,802
Depreciation and impairment
At 1 April 2024
3,338,280
937,127
Depreciation charged in the year
264,639
111,911
At 31 March 2025
3,602,919
1,049,038
Carrying amount
At 31 March 2025
1,686,550
202,764
At 31 March 2024
1,951,189
314,675		 Plant and
equipment
Fixtures and
fittings
IT expenditure
and software
£
£
£
322,027
250,701
112,950
20,538
-
-
342,565
250,701
112,950
312,199
241,020
111,277
5,487
5,339
1,672
317,686
246,359
112,949
24,879
4,342
1
9,828
9,681
1,673		 XC Fixtures
and fittings
XC IT
expenditure
£
£
132,417
55,063
12,993
-
145,410
55,063
132,417
55,063
-
-
132,417
55,063
12,993
-
-
-		 Gym
equipment
£
45,664
-
45,664
23,536
7,333
30,869
14,795
22,128		 Total
£
7,460,093
33,531
7,493,624
5,150,919
396,381
5,547,300
1,946,324
2,309,174

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

11 Tangible fixed assets

(Continued)

Land and buildings at the XC centre are being written off over the term of the XC lease (20 years) whilst the other assets are being written off in accordance with our normal policy.

12
Stocks
Finished goods and goods for resale
13
Debtors
Amounts falling due within one year:
Trade debtors
Amounts owed by fellow group undertakings
Other debtors
Prepayments and accrued income
14
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 2025
£
12,835
2025
£
6,720
425,533
137,000
167,781
737,034
2025
£
135,294
75,449
59,845		 2024
£
10,217
2024
£
20,687
36,676
137,000
204,984
399,347
2024
£
207,270
75,449
131,821

The bank loans of £75,449 (2024: £75,449) within one year and £59,845 (2024: £131,821) after one year which is secured by way of a fixed and floating charge, in favour of Bank of Scotland Plc and The CoOperative Bank Plc, over the assets of the Charitable Company.

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

15
Creditors: amounts falling due within one year
Notes
Bank loans
14
Other taxation and social security
Deferred income
18
Trade creditors
Other creditors
Accruals and deferred income
16
Creditors: amounts falling due after more than one year
Notes
Bank loans
14
Other creditors
Provisions for liabilities
Movements on provisions:
At 1 April 2024
Release of provision
At 31 March 2025
The provision is in relation to an onerous contract relating to a loss-making gym.
18
Deferred income
Other deferred income		 2025
2024
£
£
75,449
75,449
18,176
30,314
109,688
99,713
193,121
208,598
39,326
14,079
101,367
109,863
537,127
538,016
2025
2024
£
£
59,845
131,821
-
25,000
59,845
156,821
2025
2024
£
£
92,905
279,533
£
279,533
(186,628)
92,905
2025
2024
£
£
109,688
99,713

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

18 Deferred income

Deferred income
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2024
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2025		 (Continued)
2025
2024
£
£
109,688
99,713
99,713
68,988
(99,713)
(68,988)
109,688
99,713
109,688
99,713		 (Continued)
2025
2024
£
£
109,688
99,713
99,713
68,988
(99,713)
(68,988)
109,688
99,713
109,688
99,713
68,988
(68,988)
99,713
99,713

Deferred income related to advance payments for block bookings/events at the sites that related to future dates.

19 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement Movement
in funds in funds
Balance at Incoming Balance at Incoming Balance at
1 April 2023 resources 1 April 2024 resources 31 March 2025
£ £ £ £ £
My Place Funding - Capital 2,011,787 (241,414) 1,770,371 (241,414) 1,528,957

The grant has been received in full. The purpose of the grant was to fund the construction of the XC centre for young people at Jarman Park. The funding was made as part of a joint application with Youth Connexions who also operate from the centre. The balance of the restricted fund represetns a proportion of the capital cost less depreciation written off to date.

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

20 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement
in funds
Balance at
1 April 2023
Incoming
resources
Balance at
1 April 2024
£
£
£
Revenue reserve
208,500
-
208,500
XC repairs fund
62,761
6,000
68,761
Insurance Fund
-
-
-
271,261
6,000
271,261		 Movement in funds
Incoming
resources
Resources
expended
31
£
£
-
-
6,000
-
518,050
(216,221)
524,050
(216,221)		 Balance at
March 2025
£
208,500
74,761
301,829
585,090

The revenue reserve has been set up to provide a contingency reserve to cover one months expenditure. The Trust reviews this on an annual basis.

21 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2025
2025
£
£
Fund balances at 31
March 2025 are
represented by:
Tangible assets
1,946,324
-
Current assets/(liabilities)
313,415
-
Long term liabilities
(59,845)
-
Provisions
(92,905)
-
2,106,989
-		 Total Unrestricted
funds
Restricted
funds
2025
2024
2024
£
£
£
1,946,324
538,801
1,770,373
313,415
(77,124)
-
(59,845)
(156,821)
-
(92,905)
(279,533)
-
2,106,989
25,323
1,770,373		 Total
2024
£
2,309,174
(77,124
(156,821
(279,533
1,795,696

22 Operating lease commitments

At the reporting end date the Charitable Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2025
£
144,630
1,597
146,227		 2024
£
189,740
331,227
520,967

DACORUM SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

23 Related party transactions

During the year, Dacourm Sports Trust paid £150,000 (2024: £120,000) to Absolutely Leisure, another subsidiary of Absolutely Together, for the support services provided in the period.

24 Ultimate parent undertaking and controlling related party

The ultimate parent company is Absolutely Together, a company limited by guarantee and incorporated in Great Britain by virtue of being the sole member. Company Registration No: 08466394 and Registered Charity No: 1152093. This is the smallest and largest group to consolidate these financial statements. Copies of the financial statement can be obtained from The Arena, Stafferton Way, Maidenhead, Berkshire, SL 6 1AY or on companies house website www.companieshouse.gov.uk.

The Trustees consider the Board of Trustees of Absolutely Together, a company limited by guarantee, to be the ultimate controlling party.

25 Cash generated from operations 2025 2024
£ £
Surplus for the year 69,878 878
Adjustments for:
Depreciation and impairment of tangible fixed assets 637,796 412,308
Movements in working capital:
(Increase) in stocks (2,618) (1,138)
(Increase) in debtors (337,688) (212,362)
(Decrease) in creditors (35,864) (5,567)
Increase in provisions (186,628) (152,034)
Increase in deferred income 9,975 30,725
Cash generated from operations 154,851 72,810
26 Analysis of changes in net (debt)/funds
At 1 April 2024 Cash flowsAt 31 March 2025
£ £ £
Cash at bank and in hand 51,328 49,345 100,673
Loans falling due within one year (75,449) - (75,449)
Loans falling due after more than one year (131,821) 71,976 (59,845)
(155,942) 121,321 (34,621)