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2022-03-31-accounts

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

REGISTERED COMPANY NUMBER: 04624607 (England and Wales) REGISTERED CHARITY NUMBER: 1105278

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

INSPIRING HEALTHY LIFESTYLES

(A COMPANY LIMITED BY GUARANTEE)

Fairhurst Statutory Auditor Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022

Page
Reference and Administrative Details 1
Chair's Introduction - Annual Review 2
Report of the Trustees 3 to 14
Report of the Independent Auditors 15 to 18
Statement of Financial Activities 19
Balance Sheet 20
Cash Flow Statement 21
Notes to the Cash Flow Statement 22
Notes to the Financial Statements 23 to 45

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 March 2022

TRUSTEES D A Bartle (resigned 30/9/2021)
G W Cross (resigned 30/6/2021)
P G Farrington
D W Lythgoe (resigned 15/10/2021)
J B Meadows (resigned 15/10/2021)
P T Moss (resigned 30/6/2021)
D A Newman (resigned 15/10/2021)
C J Wilks
S J Price (resigned 31/12/2021)
E L Wetherby
D J Wood
R A Boocock (appointed 15/10/2021)
P J Burt (appointed 15/10/2021)
S J Gambles (appointed 15/10/2021)
J E Green (appointed 15/10/2021)
L Peace (appointed 15/10/2021)
COMPANY SECRETARY D M Heaton
REGISTERED OFFICE Unity House
Westwood Park Drive
Wigan
WN3 4HE
REGISTERED COMPANY 04624607 (England and Wales)
NUMBER
REGISTERED CHARITY 1105278
NUMBER
AUDITORS Fairhurst
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB
BANKERS The Co-operative Bank plc
PO Box 101
1 Balloon Street
Manchester
M60 4EP
The NatWest Bank
4 Standishgate
Wigan
Lancashire
WN1 1UE

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INSPIRING HEALTHY LIFESTYLES

CHAIR'S INTRODUCTION - ANNUAL REVIEW for the Year Ended 31 March 2022

It is with an immense sense of pride that I reflect on what the Charity has achieved in the last twelve months. Having completed the transfer of services back to Wigan Council, the core team retained have shown enormous dedication to develop new ways of working that build effective partnerships, safeguarding the delivery of services and protecting against the ongoing effects and changing expectations resulting from Covid.

We have continued to seek opportunities to invest in our leisure offer and this year we have seen significant investment at Rugeley Leisure Centre in Cannock Chase. The facility has undergone a complete refurbishment of the pool hall, a new state-of-the-art, outdoor 3G artificial grass pitch, with low energy LED floodlights (commissioned in conjunction with Cannock Chase District Council and the Football Foundation), new flooring in the centre's two squash courts and extended car parking facilities with electric vehicle charging points.

Thanks to the support of the Cultural Recovery Fund (Arts Council) we have also been able to invest in our Arts and Heritage services. Focussing on new ways to engage people we have developed both our digital offer and ways to attract people to outdoor activities.

We were also proud to host the National Schools Shooting Championships, welcoming 300 young athletes and a host of British shooting sport stars. The event saw the UK's very best pistol and air rifle competitors, aged 11-18, representing over 140 schools at the two-day event at the centre. In collaboration with British Shooting, we were able to extend the event and introduce local students to the sport. As a personal highlight from the year, I'm already looking forward to next years competition.

The recovery and progress achieved over the last 12 months would not have been possible without the valued support and commitment of the Board. I'd like to thank Della Bartle, Paul Moss, David Lythgoe, Jenny Meadows, David Newman and Sue Price who retired from the Board during the year, having ensured the safe transformation of the organisation. I'd also like to thank Gareth Cross who, in his role as Chair for many years, demonstrated a devotion to the success of the organisation in supporting residents to live active and healthy lives.

Looking forward, I would like to thank our new Board members who have already contributed their expertise to help shape and guide the governance and strategic direction of the charity alongside our other Board members.

After 17 years with the charity, Pete Burt retired from his role as Managing Director handing over the reigns to long term colleague and Deputy Managing Director, Chris Derbyshire. Pete's contribution to the organisation has ensured it is now recognised both locally and nationally as a trusted partner of leisure and cultural services. On behalf of the Board, I would like to thank him for his leadership of the organisation which has seen it grow geographically into the Selby and Cannock Chase Districts and working with partners, investment into facilities and programmes ensuring the charity continues to deliver the very best for the residents it serves. I look forward to working with Chris in his new role and am confident that under his direction the charity will continue to grow its impact and reach, and will work with our partners to seek opportunities to improve access to products and services.

Darren Wood, Chair of Trustees

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Organisation

The charitable company is a company limited by guarantee with the income and property of the charitable company being applied solely towards meeting the objectives of the charity as outlined below. No dividend, bonus or profit share shall be paid or transferred directly or indirectly to members of the charitable company.

Following agreement from the Board in June, the organisation formerly changed its name to Inspiring Healthy Lifestyles on the 1st of December 2021, reflecting the brand name which the company has made substantial use of in the recent years and ceasing the association with Wigan.

As resolved by the Board the organisation's trading company Inspiring healthy lifestyles ltd was renamed Inspiring healthy lifestyles enterprises ltd to facilitate the renaming of the parent company and subsequently dissolved on the 7th of June 2022.

The charitable company operates under the memorandum and articles of association as modified in November 2007 and July 2010 and further updated in September 2017.

Charitable status

The company gained charitable status on 3rd August 2004. The charitable company registration number is 1105278.

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STRATEGIC REPORT Achievement and performance

The Strategic Report comprises the following sections: from 'Objectives and Policies' to 'Future Plans'.

Objectives and policies

The charitable company has been established for the public benefit for the following purposes (drawn from the memorandum of the company):

Strategies employed in the year

During 2021/22 the organisation continued to face operational challenges due to the ongoing impact of the Covid-19 pandemic, in view of this the key objectives outlined in the recovery plan approved by the Trustees in June 2020 continued to be progressed with the outcomes noted below:

New arrangements for Health and Safety advice and support were adopted in June 2021.

Over the course of the year focus was placed on business recovery and stabilisation and included the following key work streams:

A new booking system was deployed to support customers in booking in advance for their activities. Leisure Hub, an XN product, has transformed the way in which we sell our activities online and customers can book both for members and non-members.

Self Service / Access Control - Investment in customer journey technology improved the ease of access to our facilities and reduced the need for customers to visit reception to check in for their pre booked activity.

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

Throughout the closure periods, resource was prioritised to effectively maintain the safety and security of the buildings managed on behalf of our Council clients. Regular inspections took place alongside the continuation of statutory servicing to ensure that the buildings/systems remained safe and operational.

New Fire Risk Assessments were undertaken by external specialist at all sites in - resulting in action plans in place to ensure compliance. Key statutory inspections undertaken and records kept and managed locally. With the introduction of the 'Engine' these are now uploaded into the system to ensure they are monitored and completed within timescales moving forwards.

Provision of one to one consultation to members ensuring programmes are tailored to suit their needs. Mywellness promoted across all member communication platforms as a unique digital solution that can support in achieving and monitoring their health and fitness goals. Target established to encourage over 90% of gym membership to download and utilise the app.

All staff fully supported with training cover the following areas:

Financial review

Results for the year

The financial statements are prepared in accordance with applicable accounting standards and the Charity Statement of Recommended Practice (FRS102 SORP) (effective 1 January 2019) and covers the activities of Inspiring Healthy Lifestyles (formerly Wigan Leisure and Culture Trust). The Statement of Financial Activities (SOFA) shows the gross income from all sources and the split of activity between restricted, designated and unrestricted funds.

Total funds of the charitable company have increased due in part to actuarial pension gains (see note 23) and amount to a surplus of £4,542,735 as at 31 March 2022 (2021: deficit £1,698,572) representing unrestricted funds surplus of £1,928,127 (2021: deficit £4,449,230), which includes designated fund surplus of £928,540 (2021: £600,000), pension surplus of £345,000 (2021: deficit £5,562,000) and general unrestricted funds surplus of £654,587 (2021:surplus £512,770). Restricted (including endowment) funds surplus totalled £2,614,608 (2021: surplus £2,750,658).

The statement of financial activities shows that there were net incoming resources before movements in the valuation of investments and actuarial gains for the charitable company for the financial year amounting to £3,701,307 (2021: net outgoing £1,332,769). This includes exceptional pension adjustments relating to the effect of settlements within the GMPF of £5,486,000 (exceptional income) and restriction of the NYPF asset by £1,698,000 (exceptional expenditure).

The Trust met its social and business objectives and through a combination of proactive management and a committed workforce, the worst impact of the adverse economic conditions was mitigated.

Reliance on other parties

The charitable company continues to rely heavily on national and local government policies for contract income.

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STRATEGIC REPORT Financial review

Investment policy and objectives

Bearing in mind the charitable company's commitment to effective stewardship of resources, the Trust has endorsed an investment policy that allows for £1,500,000 to be invested in structured products with the balance of resources being invested in Public Sector Reserve accounts. Structured products are traded on the markets but guarantee, to various degrees, a return of capital invested. However, under the SORP, these investments are valued at market price rather than capital value, and on that basis a gain on revaluation has been recorded for 2021/22.

Reserves policy

The charitable company's reserves policy was reviewed in June 2018. It was agreed that it was appropriate to seek to maintain a level of general unrestricted reserves (excluding surpluses / deficits on pensions) of £1 million. The purpose of those reserves is to safeguard against both any significant loss of funding and any unforeseen adverse circumstances and to thereby facilitate the continuance of the delivery of the charitable company's stated objectives.

The breakdown of reserves held are detailed above.

Going concern

Following on from a significant unprecedented period of business operational uncertainty resulting from the COVID-19 pandemic, the 2021/2022 financial year has proven to be a slow but more stable operating environment for the Charity to continue its business recovery.

Restrictions continued to impact on the opening and operation of facilities for the first quarter of the financial year, with full restrictions only being lifted by Central Government in June 2021.

The Charity continued to take advantage of all national and local government financial support schemes available to the sector, such as the Coronavirus Job Retention Scheme which ceased in September 2021 and Business Rate Grants.

A further successful bid of £175k was made by the Charity to the Governments Cultural Recovery Fund via the Arts Council, in order to fund and continue to deliver these services from April 2021.

The National Leisure Recovery Fund secured in 2020/2021 for the Cannock and Selby contracts continues to support the Charity in its recovery during 2021/22 and 2022/23.

Crucial to the ongoing success of the Charity has been the continued contractual and financial support through the 'Deeds of Variation' to the two contracts held with Cannock and Selby District Councils.

Built around a common set of principles both Councils have agreed to support the Charity during an extended period of recovery from the pandemic. Whilst renewable on an annual basis these contractual arrangements will enable recovery to be achieved alongside growth and diversification.

Negotiations outside of the 'Deeds of Variation' arrangements also enabled the Cannock contract to be extended through to the 31st of March 2027.

Whilst the Selby arrangements will reach their contractual end on the 31st of August 2024, the Charity continues to seek growth and is currently in dialogue in respect of new opportunities within the Sector.

The result of the factors outlined above is that the Trustees have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future, (being a period of twelve months after the date on which the report and financial statements are signed), and that the going concern assumption is both appropriate and continues to be adopted in the financial statements. This is reiterated in the accounting policies on page 23

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STRATEGIC REPORT Financial review Grant Policy

The charitable company gives very limited grants to external institutions. Those that are given are approved by the Board through the charitable company's financial monitoring arrangements.

Pension Commitment

Inspiring Healthy Lifestyles (Formerly Wigan Leisure Culture Trust) is a member of the following multiple employer defined benefit pension schemes, the Greater Manchester Pension Fund, the Staffordshire Pension Fund and the North Yorkshire Pension Fund.

Each member organisation shares a joint and several liabilities for the pension funds. As such, and in accordance with FRS102 section 28, it has been possible to identify Wigan Leisure and Culture Trust's share of each scheme's assets and liabilities on 31 March 2022, as advised by the appointed actuaries. Refer to note 23 for additional information.

All three of the defined benefit pension schemes have undergone an actuarial valuation for accounting purposes (FRS102) as at the 31st March 2022. All three schemes recorded a positive movement as a result of the valuation. The Greater Manchester Scheme recorded a significant reduction in liability due to the TUPE transfer of staff following the cessation of the Wigan contract. The Staffordshire scheme moved into surplus following a significant increase to the fair value of the pension assets. After the year end (but before the signing of these accounts) the remaining staff in the Greater Manchester Scheme with continuing employment by Inspiring Healthy Lifestyles were granted addition to the Admissions Agreement for the Staffordshire Local Government Pension scheme, and transferred from the Greater Manchester Pension Fund. This was backdated to the 6[th] August 2021 this was not however included in either the Greater Manchester valuation or the Staffordshire valuations and therefore the trustees have taken the view that the recognition of both schemes valuation as prepared gives the best indication of the valuation at the 31 March 2022.

The North Yorkshire scheme remained in surplus, however at the date of signing these accounts the decision had been made by Selby Council not to renew the contract for services when renewal becomes due August 2024, as a result the directors have not recognised the surplus in the pension scheme and have recognised the valuation as £Nil.

The total position across the three schemes is detailed in note 23.

Trustees have considered the defined benefit pension scheme and the risk of this returning to a liability and the liability becoming due and whilst a pension scheme deficit is not a debt but an actuarial estimate of the liability that the Trust would need to fund, this would be over the longer term and the Trustees recognise the need to plan for this

Specific actions that are already in place to manage the risk are that the Trustees have closed the local government pension schemes it operates to both new and existing non scheme member employees, in order to manage the future financial risk in relation to pension fund deficits. After an evaluation process IHL joined the National Employment Savings Trust (NEST) scheme. It is planned that over time a greater proportion of our employees will be part of this, rather than the local government scheme. This will over time achieve greater cost certainty as NEST is a contribution-based scheme rather than a final salary-based scheme. In response to new legislation, employees are "auto-enrolled" into the NEST scheme.

Additionally, any future increased employer contribution rates are forecasted and planned for as part of the budgeted revenue account, and there are Admitted Body Agreements in place alongside cash pension bonds.

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STRATEGIC REPORT

Financial and risk management objectives and policies

We operate a formal risk management process, where Trustees and senior managers together identify top-level risks to the charitable company, their probability, impact and consequent actions necessary to manage them. A formal risk management policy was approved by Trustees in July 2011. This includes Corporate and Operational Risk Registers which are constantly under review.

The current economic climate which has also been significantly impacted by the continuing effects of the Covid-19 pandemic.

Our risk management process enables the early identification of risks and the Board approved a Recovery Plan in June 2020, which was reviewed and consistently amended through the subsequent lockdown and recovery periods which continued into the start of this financial year.

The key risks identified for the year 2021/22 were:

The key risks identified for the year 2021/22 were:
Risk How we managed the risk
Safe return and recovery of activities and
services following pandemic.		 Reviewed model of service delivery and actively
pursuing additional funding sources and business
growth opportunities.
Effective implementation and operation of
BWP ICT Partnership contract, during the
reprocurement period, following the Board
decision to exit the partnership at the end of
the extension period.		 Development of a new ICT delivery model and
ICT Strategy.
Procurement / market assessment to understand
best value for contract award
Board restructuring, succession planning,
recruitment, and code of good governance.		 New Trustees successfully recruited to the Board.
New Board meeting structure implemented.
Ongoing review of Code of Good Governance.
Termination of Selby Summit Contract An NHS Covid-19 licence implemented to allow
access following IHL surrender of lease.
Agreement of Settlement / Termination
Agreement.
Coronavirus (COVID-19) impact on the
Sector, Charity/Business due to lockdowns
and road map to recovery. Significantly
impact on customer based income,
memberships and business interruption
insurance.		 Recovery Plan Implemented including
restructuring of operational teams.
Maximisation of all Government/Sector
financial assistance alongside DoV with key
clients.

The Trust is not exposed to currency risk and has minimal exposure to interest rate risk, price risk or market risk.

Training in risk assessment is delivered to staff, and a small "Risk and Compliance" team has been established to support this area of work.

Fund Raising

The Trustees can confirm that it does not raise funds from the public other than through payment for taking part in the charitable services the Trust provides and has not engaged any professional fundraiser or commercial participator to carry out fundraising activities. The charity has received no complaints about fundraising activity.

Public Benefit

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

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STRATEGIC REPORT

The Trust delivers public benefit by:

The impact of the Covid pandemic continued to affect the way in which services were delivered particularly in the early part of the year.

The Home Health Hub, our digital fitness and wellbeing offer, developed and launched to support gym members and participants to remain active and engaged throughout lockdown measures, continued to be developed and supported. This included online fitness classes, virtual cycling programmes, children's and family activities and nutritional advice and healthy eating guidance.

A phased approach to the relaxation of the covid safety measures in place was adopted, in line with the government's roadmap, both to ensure continued confidence from customers and, as a priority, ensure the health and safety of those engaged with our services.

The leisure facilities across the two contract areas adopted best practice to maximise the recovery of activity levels - we have seen a steady increase in footfall, attracting over 630,000 visits over the course of the year.

A proactive approach to re-engage communities in physical activity was undertaken. This included a 9-week trial of free gym sessions in a community setting. This enabled local people from various backgrounds and groups to exercise in a friendly environment with the objective of promoting activity, better health, social and mental health improvements. The 'Community Gym' offer has now been sustained with further roll out planned.

Rugeley Leisure Centre was the focus of a £1.25m investment programme, with the site fully reopening in March.

Continuing the digital approach utilised throughout the Pandemic, the "Cannock Chase Can" app launched. The app enables all residents to sign up and create personal goals and individual wellness journeys. It also provides information about healthy eating, physical activity and advice on how to make healthier lifestyle choices. It hosts a variety of wellness challenges that have been developed by both local communities and businesses. The app provides local communities with the tools to improve their own health and wellbeing by making it fun, focussed and easily accessible.

We have worked in partnership with the NHS to provide the 'Staying Well Service'. Held at Chase Leisure Centre, these now monthly sessions enable health care practitioners, GP's, nurses, social prescribers, falls prevention and other health care staff to invite local GP surgery patients into the leisure centre to speak to the appropriate practitioner - leading to better outcomes for the patient. Following on from this consultation the health practitioners also directly refer the patient to the Health & Wellbeing Activity referral program if it is appropriate for that individual.

In Selby, The Move It Lose It Adult Weight Management programme returned strongly following post covid re-launch. At the end of the year 80% of clients starting the programme achieved the targeted weight loss of 5% at week 12 and 100% of those reaching week 24 maintained this weight loss.

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STRATEGIC REPORT

Future plans

Throughout the year the Trustees worked with the Leadership Team to establish a new three-year Business Strategy. In August 2022 the new Strategy was formally adopted by the charity.

The Mission statement for the Business Strategy is:

Our Vision is :

The adoption of the Business Strategy also saw the adoption of a new overall brand for the organisation: "Inspiring Healthy Lifestyles - the charity at the heart of the community".

The vision is underpinned by three core values:

This Vision is delivered through three Focus Areas each underpinned by strategic objectives.

Focus Area 1: A Great Place to Work

We are committed to our charitable objective, investing in our people and creating a working environment that listens, leads and inspires.

Strategic Objectives

Focus Area 2: Systems and Processes

Ensuring our systems and processes are fit for purpose and enable us to deliver our charity effectively.

Strategic Objectives

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STRATEGIC REPORT

Focus Area 3: Grow the Impact and Reach of the Charity

More people of all ages and abilities accessing activities, more equally, more widely and more often.

Strategic Objectives

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity 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.

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Trustees

The following people served as Trustees during the year: D A Bartle - stood down 30 September 2021 R A Boocock – appointed 15 October 2021 P J Burt – appointed 15 October 2021 G W Cross - stood down 30 June 2021

P G Farrington S J Gambles J E Green – appointed 15 October 2021 D W Lythgoe - stood down on 15 October 2021

J B Meadows - stood down on 15 October 2021

P T Moss - stood down 30 June 2021 D A Newman - stood down 15 October 2021 L Peace – appointed 15 October 2021 S J Price - stood down 31 December 2021 E L Wetherby C J Wilks D J Wood

The Board of Trustees was set up through a mix of identified specialists and open adverts in the press. Replacement Trustees are recruited in a similar manner. The Board meets on a quarterly cycle.

Trustee training and development

A revised Trustee Handbook forms the basis of Trustee induction, supplemented by familiarization visits to facilities and events tailored to the interests and needs of the individual Trustee. The handbook is now updated on a regular basis when new information necessitates amendments.

Training was provided to Trustees on their legal responsibilities as a Trustee.

Recruitment and rotation of Trustees

The memorandum and articles of the charitable company require Trustees to retire after three years in office. However, they may, if willing, be re-appointed by the Board at a Board meeting at the end of each term of office.

The Board appointed five new Trustees in October 2021 following a comprehensive recruitment process.

The Board has two established sub committees - Audit Committee; and the Nominations Committee and their members during 2021/22 are listed below:

Audit Committee:

R Boocock; P Burt; P Farrington (Chair from April 2022); S Gambles; D Newman (Chair - resigned October 2021); L Peace; S Price; E Wetherby; D Wood

The Committee met four times during 2021/22

Nominations Committee:

Chair of Trustees: Chair of Audit Committee and the Managing Director.

The Committee met twice during 2021/22.

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

All Trustees remain active in the organization and sent apologies to meetings they could not attend.

Decision making

Strategic decisions are made by the Board of Trustees, but operational decisions are the province of the Leadership Team of the Trust. Significant operational decisions are, however, reported to the Board. The Memorandum and Articles of Association allows delegation of all management decisions in accordance with such powers approved by the Board to Leadership Team.

Leadership Team

During 2021/22 members of the Leadership Team were:

P Burt, Managing Director (Retired: June 2021) Chris Derbyshire, Managing Director (from July 2021, previously Deputy Managing Director) D Heaton, Finance Director and Company Secretary Greg Barker, Head of ICT (from April 2021) Nicola Bingham, Head of Finance (from April 2021) Stephen Riley, Head of Organisational Development (from April 2021) David Johns, Commercial Director (from April 2021 / resigned October 2021) Lynn Illidge, Head of Operations Cannock Chase (Temp - from November 2021) Ben Walker, Head of Operations Selby (Temp - from November 2021)

Management Remuneration

The salaries for all roles in the organisation, including senior management, are determined using a pay spine. The pay spine is determined by a mix of benchmarked salaries against market rate, former local authority grades and grades for roles that have transferred into the organisation. Senior and middle management do not receive automatic increments - any increments are performance based through a system of annual appraisals.

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INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Gender Pay Gap

The organisation employed under 250 employees as at the 4th April 2022 and is therefore under the reporting threshold.

Employee involvement

The charitable company has continued the practice of keeping employees informed of matters affecting them as employees and the financial and economic factors affecting the charitable company. Due to the Covid-19 pandemic, the primary conduit for this has been through email and social media briefings in the form of Regular MD updates and regular briefings of the recognised Trade Unions. In addition, regular written briefings from the Senior Management have been issued throughout the year.

Disabled employees

Applications for employment by disabled persons are given full and fair consideration for all vacancies in accordance with their particular aptitudes and abilities. In the event of an employee becoming disabled, every effort is made to retrain them and/or make suitable adjustments in order that their employment with the charitable company may continue

It is the policy of the charitable company that training, career development and promotion opportunities should be available to all employees.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Inspiring Healthy Lifestyles for the purposes of company law) are responsible for preparing the Annual 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 period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

AUDITORS

The auditors, Fairhurst, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 14 December 2022 | 21:43 GMT

........................................................................ Trustee Darren Wood

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF INSPIRING HEALTHY LIFESTYLES

Opinion

We have audited the financial statements of Inspiring Healthy Lifestyles (the 'charitable company') for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 Auditors' 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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006

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

Page 15

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF INSPIRING HEALTHY LIFESTYLES

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 Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires 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 purposes 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.

Page 16

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF INSPIRING HEALTHY LIFESTYLES

Our 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In assessing the susceptibility of the charitable company's financial statements to material misstatement, including obtaining and understanding of how fraud might occur;

To address the risk of fraud through management bias and override of controls;

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls

We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 17

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF INSPIRING HEALTHY LIFESTYLES

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 auditors' 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.

Louise Webster BSc BFP ACA (Senior Statutory Auditor) for and on behalf of Fairhurst Statutory Auditor Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB

15 December 2022 | 09:00 GMT Date: .............................................

Page 18

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 March 2022

Unrestricted
fund
Notes
£
INCOME AND
ENDOWMENTS FROM
Donations and legacies
3
2
Charitable activities 5
Management fee from Wigan
Council
-
Wellbeing
354,324
Sport and Leisure
7,119,693
Investment income
4
29,930
Other income
6
5,502,502
Total
13,006,451
EXPENDITURE ON
Raising funds
7
26,554
Charitable activities
8
Wellbeing
386,253
Sport and Leisure
7,074,247
Other
1,698,000
Total
9,185,054
Net gains on investments
16,546
NET
INCOME/(EXPENDITURE)
3,837,943
Transfers between funds
22
(586)
Other recognised gains/(losses)
Actuarial gains/(losses) on
defined benefit schemes
2,540,000
Net movement in funds
6,377,357
RECONCILIATION OF
FUNDS
Total funds brought forward
(4,449,230)
TOTAL FUNDS CARRIED
FORWARD
1,928,127
Restricted
funds
£
-
-
228,620
180,605
25,879
-
435,104
-
488,210
85,479
-
573,689
-
(138,585)
586
-
(137,999)
681,753
543,754
Endowment
fund
£
-
-
-
-
-
-
-
25,509
-
-
-
25,509
27,458
1,949
-
-
1,949
2,068,905
2,070,854		 2022

Total
funds
£
2
-
582,944
7,300,298
55,809
5,502,502
13,441,555
52,063
874,463
7,159,726
1,698,000
9,784,252
44,004
3,701,307
-
2,540,000
6,241,307
(1,698,572)
4,542,735		 2021
Total
funds
£
-
1,988,583
3,195,046
11,067,187
59,544
371,262
16,681,622
46,657
3,179,934
15,308,231
-
18,534,822
520,434
(1,332,766)
-
(7,661,000)
(8,993,766)
7,295,194
(1,698,572)

The notes form part of these financial statements

Page 19

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES (REGISTERED NUMBER: 04624607)

BALANCE SHEET 31 March 2022

Notes
FIXED ASSETS
Tangible assets
14
Investments
15
CURRENT ASSETS
Stocks
16
Debtors
17
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
18
NET CURRENT LIABILITIES
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
19
PENSION ASSET/(LIABILITY)
23
NET ASSETS/(LIABILITIES)
FUNDS
22
Unrestricted funds
Restricted funds
Endowment funds
TOTAL FUNDS		 2022
£
387,855
4,283,678
4,671,533
42,376
741,158
966,595
1,750,129
(2,034,222)
(284,093)
4,387,440
(189,705)
345,000
4,542,735
1,928,127
543,754
2,070,854
4,542,735		 2021
£
1,729,421
4,235,082
5,964,503
96,314
1,976,791
249,114
2,322,219
(3,537,797)
(1,215,578)
4,748,925
(885,497)
(5,562,000)
(1,698,572)
(4,449,230)
681,753
2,068,905
(1,698,572)

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 14 December 2022 | 21:43 GMT

............................................. D Wood - Trustee

The notes form part of these financial statements

Page 20

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

CASH FLOW STATEMENT
for the Year Ended 31 March 2022
2022
Notes
£
Cash flows from operating activities
Cash generated from operations
1
883,096
Net cash provided by/(used in) operating activities
883,096
Cash flows from investing activities
Purchase of tangible fixed assets
(49,728)
Purchase of fixed asset investments
(48,596)
Revaluations of investments
44,004
Interest received
55,809
Net cash provided by investing activities
1,489
Cash flows from financing activities
Capital repayments in year
(141,595)
Expenditure attributable to endowment
(25,509)
Net cash used in financing activities
(167,104)
Change in cash and cash equivalents in
the reporting period
717,481
Cash and cash equivalents at the
beginning of the reporting period
249,114
Cash and cash equivalents at the end of
the reporting period
966,595		 2021
£
(764,173)
(764,173)
(4,720)
(532,242)
520,434
59,544
43,016
(42,647)
(22,257)
(64,904)
(786,061)
1,035,175
249,114

The notes form part of these financial statements

Page 21

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE CASH FLOW STATEMENT

for the Year Ended 31 March 2022

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Gain on investments
Loss on disposal of fixed assets
Interest received
Expenditure attributable to endowment
Decrease in stocks
Decrease in debtors
Decrease in creditors
Difference between pension charge and cash contributions
Net cash provided by/(used in) operations		 2022
£
3,701,307
166,454
(44,004)
39,486
(55,809)
25,509
53,938
1,370,129
(1,006,914)
(3,367,000)
883,096		 2021
£
(1,332,766)
878,339
(520,434)
-
(59,544)
22,257
17,040
337,518
(620,583)
514,000
(764,173)

2. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

Net cash
Cash at bank and in hand
Debt
Finance leases
Total		 At 1/4/21
£
249,114
249,114
(1,477,452)
(1,477,452)
(1,228,338)		 Cash flow
£
717,481
717,481
1,192,452
1,192,452
1,909,933		 At 31/3/22
£
966,595
966,595
(285,000)
(285,000)
681,595

The notes form part of these financial statements

Page 22

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022

1. COMPANY INFORMATION

Wigan Leisure and Culture Trust is a charity (No: 1105278) and a registered company limited by guarantee (No: 04624607) whose registered office is Robin Park Indoor Sports Centre, Loire Drive, Robin Park, Wigan, WN5 0UL.

The Trust delivers public benefit by providing free access, or access at tariffs lower than commercial market tariffs, to facilities as set out in the report of the trustees.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The financial statements are presented in sterling (£). The Trust constitutes a public benefit entity as defined by FRS 102.

Going Concern

The charitable company has net current liabilities of £284,093 (2021 £1,215,578) , the trustees do not consider this an indication of going concern issues as the charitable company holds general fixed asset investments of £2,166,717 (2021 £2,145,949) which can be readily accessed.

Following on from a significant unprecedented period of business operational uncertainty resulting from the COVID-19 pandemic, the 2021/2022 financial year has proven to be a slow but more stable operating environment for the Charity to continue its business recovery.

Restrictions continued to impact on the opening and operation of facilities for the first quarter of the financial year, with full restrictions only being lifted by Central Government in June 2021. The Charity continued to take advantage of all national and local government financial support schemes available to the sector, such as the Coronavirus Job Retention Scheme which ceased in September 2021 and Business Rate Grants. A further successful bid of £175k was made by the Charity to the Governments Cultural Recovery Fund via the Arts Council, in order to fund and continue to deliver these services from April 2021. The National Leisure Recovery Fund secured in 2020/2021 for the Cannock and Selby contracts continues to support the Charity in its recovery during 2021/22 and 2022/23.

Crucial to the ongoing success of the Charity has been the continued contractual and financial support through the 'Deeds of Variation' to the two contracts held with Cannock and Selby District Councils. Built around a common set of principles both Councils have agreed to support the Charity during an extended period of recovery from the pandemic. Whilst renewable on an annual basis these contractual arrangements will enable recovery to be achieved alongside growth and diversification.

Negotiations outside of the 'Deeds of Variation' arrangements also enabled the Cannock contract to be extended through to the 31st of March 2027. Whilst the Selby arrangements will reach their contractual end on the 31st of August 2024, the Charity continues to seek growth and is currently in dialogue in respect of new opportunities within the Sector.

continued...

Page 23

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Basis of preparing the financial statements

The result of the factors outlined above is that the Trustees have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future, (being a period of twelve months after the date on which the report and financial statements are signed), and that the going concern assumption is both appropriate and continues to be adopted in the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The trustees consider there to be no items in the financial statements where they have had to make significant judgements in the process of applying the group's accounting policies or key sources of estimations uncertainty, other than as stated below:

The present value of the three pension schemes defined benefit liabilities depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 19 will impact the carrying amount of the pension liability. Furthermore, a roll forward approach which projects results from the latest full actuarial valuations performed at 31 March 2019 has been used by the actuary in valuing the pensions liability at 31 March 2022. Any differences between the figures derived from the roll forward and approach and a full actuarial valuation would impact on the carrying amount of the pension liability.

Income

Income is recognised to the extent that it is probable that the economic benefits will flow to the group and the income can be reliably measured. Income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Income from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

Donations and Legacies

Donations comprises all income from donations, gifts, core funding grants and investment income.

Donations under Gift Aid together with the associated income tax recoveries are credited as income in the year in which they are received.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution.

Grants receivable and local authority fees

Grants receivable and local authority fees are credited to the statement of financial activities when the charity has entitlement to the funds, any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Charitable trading income

Charitable trading income represents amounts receivable by the charitable company for services provided aligned with the charitable company's objectives.

continued...

Page 24

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Investment income and rental income

Income from investments and from rental income is included in the statement of financial activities in the year in which it is receivable.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.Expenditure is classified under the following activity headings:

Costs of raising funds comprise the costs of commercial trading carried out by the subsidiary undertakings.

Expenditure on charitable activities includes the costs of providing services and other activities undertaken to further the purposes of the charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred

Charitable activities

Wellbeing – up to 2021 this mainly represented public health contracts with Wigan Council. In the year to 31 March 2022 this this represents the public health contract with North Yorkshire County Council and Heath Projects undertaken on behalf of Staffordshire County Council

Sport and Leisure - this includes management fees for the Selby sports contract and the sports element of the Cannock management fee. In addition, fees and admission charges for the use of sports facilities are included in this category of income

Allocation and apportionment of costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activites. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Trusts activities. The basis on which support costs have been allocated is set out in note 7.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements - Over the period of the lease (15 years)
Plant and equipment - at varying rates on cost
Computer equipment & software - 10% to 25% on cost

Tangible fixed assets are initially recognised at cost. Tangible fixed assets are subsequently stated at cost less accumulated depreciation and accumulated impairment losses.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the statement of financial activities.

The financial statements do not include the cost of land, buildings and equipment used at nominal rent by Wigan Leisure and Culture Trust, whose title rests with Wigan Council, Selby District Council and Cannock Chase District Council. It is not practicably possible to attribute a value to this benefit.

Investments

Listed investments are stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations throughout the year.

Page 25

continued...

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Tangible fixed assets

Movements in value arising from investment changes or revaluation and the profit on disposal of investments have been charged or credited to the funds to which they relate.

Investments in subsidiaries are measured at cost less accumulated impairment.

Leased assets

Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the statement of financial activities over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the statement of financial activities on a straight line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

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

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits Defined benefit scheme

The Group participates in three local government pension schemes, all of which are defined benefit, multi-employer arrangements.

Scheme assets are measured at fair values. Scheme liabilities are measured on an actuarial basis using the projected unit method and are discounted at appropriate high quality corporate bond rates. The net surplus or deficit is presented separately from other net assets on the balance sheet. A net surplus is recognised only to the extent that it is recoverable by the group through reduced contributions in the future, in accordance with paragraph 28.22 of FRS 102.

The current and past service costs and costs from settlements and curtailments are included within direct charitable activities. Interest on the scheme liabilities and the expected return on scheme assets are included in other finance costs within support costs. Actuarial gains and losses are reported separately in the statement of financial activities.

Page 26

continued...

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Defined contribution pension plan

The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid, the group has no further payment obligations.

The contributions are recognised as an expense in the Statement of Financial Activities when they fall due. The assets of the plan are held separately from the group in independently administered funds.

Employee termination benefits

Redundancy costs are provided for in the year in which they are notified publicly or to employees

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Financial instruments

The group only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income and expenditure account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the group would receive for the asset if it were to be sold at the balance sheet date.

The company holds fixed asset investments in the form of managed portfolios which include a combination of quoted holdings and cash. These are initially recognised at transaction price then are subsequently re-measured at their fair value, which is market rate at the close of business. Recognised and unrecognised profit/(loss) are recognised in the statement of financial activities

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

continued...

Page 27

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

3. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Gifts
2
-
-
INVESTMENT INCOME
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Bank Deposits
-
-
-
Investment portfolio
income
29,930
25,879
-
29,930
25,879
-		 2022
Total
funds
£
2
2022
Total
funds
£
-
55,809
55,809		 2021
Total
funds
£
-
2021
Total
funds
£
1,079
58,465
59,544

4. INVESTMENT INCOME

continued...

Page 28

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

5. INCOME FROM CHARITABLE ACTIVITIES

Management
Membership income
Outdoor activities
Public health
Sports hires
Cultural
Other
Covid related grants (see
below)
Unrestricted income
Restricted income (note 21)
Total activities
Covid Related Grants (not recognised
in restricted income)
Coronavirus Job Retention Scheme Grant
Local Government Restart Grant
Leisure and Retail Grant
Local Restrictions Support Grant
National Leisure Recovery Fund (NLRF)
Local Government Closed Premises
Grant
Wigan Council Furlough Top Up
Cannock Council Furlough Top Up
Selby Council Covid Uplift
Total Covid Related Grants		 Wellbeing
£
294,412
-
-
-
4,900
41,451
13,561
354,324
228,620
582,944
Wellbeing
£
13,561
-
-
-
-
-
-
-
-
13,561		 Sport and
Leisure
£
2,930,321
3,214,373
2,959
-
234,298
318,234
228,753
190,755
7,119,693
180,605
7,300,298
Sport and
Leisure
£
98,755
92,000
-
-
-
-
-
-
-
190,755		 2022
Total
£
3,224,733
3,214,373
2,959
-
239,198
318,234
270,203
204,316
7,474,017
409,225
7,883,242
2022
Total
£
112,316
92,000
-
-
-
-
-
-
-
204,316		 2022
Total
£
3,224,733
3,214,373
2,959
-
239,198
318,234
270,203
204,316
7,474,017
409,225
7,883,242
2022
Total
£
112,316
92,000
-
-
-
-
-
-
-
204,316		 2021
Total
£
1,988,583
2,847,112
122,874
1,751,102
269,322
22,165
2,676,412
5,936,298
15,613,868
636,948
16,250,816
2021
Total
£
4,351,949
-
185,000
197,458
465,440
145,000
260,086
116,365
215,000
5,936,298
2022
Total
£
112,316
92,000
-
-
-
-
-
-
-
204,316

During 2022 the following covid grants were recognised in restricted income; NLRF grants of £112,404 and Culture Recovery funds of £196,936(see note 22)

6. OTHER INCOME

Miscellaneous credits
Exceptional items		 Unrestricted
funds
£
16,502
5,486,000
5,502,502		 Restricted
funds
£
-
-
-		 Endowment
funds
£
-
-
-		 2022

Total
funds
£
16,502
5,486,000
5,502,502		 2021
Total
funds
£
371,262
-
371,262

Exceptional income represents the effects of settlement of the GMPF pension scheme on bulk transfer of those staff who were TUPE to Wigan Council following the cessation of the Wigan contract.

continued...

Page 29

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

7. RAISING FUNDS

Investment management costs

Unrestricted
Restricted
funds
funds
£
£
Portfolio management
26,554
-
CHARITABLE ACTIVITIES COSTS
Wellbeing
Sport and Leisure
Unrestricted
Funds
Restricted
Funds
Direct costs
Staff costs
2,777,467
218,784
Establishment
1,519,928
47,348
Transport
3,308
-
Supplier services
1,015,545
149,002
Agency costs
93,702
-
General support
271,030
19,951
Depreciation
166,454
-
Loss on disposal of assets
39,486
-
Transfer of restricted
funds to third party
-
138,604
Contract termination fee
-
5,886,920
573,689
Wellbeing
213,253
488,210
Sport and Leisure
5,673,667
85,479
.
5,886,920
573,689		 Endowment
funds
£
25,509
Direct
Costs
£
701,462
5,759,147
6,460,609
Endowment
Funds
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2022

Total
funds
£
52,063
Support
costs (see
note 9)
£
173,001
1,400,579
1,573,580
2022TotalFun
ds
2,996,251
1,567,276
3,308
1,164,547
93,702
290,981
166,454
39,486
138,604
-
6,460,609
701,463
5,759,146
6,460,609		 2021
Total
funds
£
46,657
Totals
£
874,463
7,159,726
8,034,189
2021TotalFun
ds
9,984,528
1,871,707
30,188
1,418,419
129,610
602,892
854,868
-
-
587,423
15,479,635
2,554,899
12,924,736
15,479,635

8. CHARITABLE ACTIVITIES COSTS

Other charitable expenditure of £1,698,000 represents the writing down of the North Yorkshire Pension surplus to £Nil. As the Selby contract ends in 2024 the Trustees have assessed that there is no opportunity to realise the FRS102 disclosure asset as calculated at 31 March 2022 and have taken the decision to restrict the value of the pension scheme assets to that of the pension scheme liabilities.

continued...

Page 30

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

9. SUPPORT COSTS

Wellbeing
Sport and Leisure
Wellbeing
Sport and Leisure		 Administration
£
62,331
530,236
592,567		 Management
£
15,607
131,665
147,272
Building
£
1,400
11,816
13,216		 Finance
£
17,671
155,140
172,811
Marketing
£
7,177
60,578
67,755		 Information
technology
£
42,621
295,957
338,578
Governance
costs
£
23,756
201,092
224,848		 Human
resources
£
2,438
14,095
16,533
Totals
£
173,001
1,400,579
1,573,580

Cost allocation includes an element of judgement and the charitable company has had to consider the cost benefit of detailed calculations and record keeping. Support costs have been allocated according to the number of full time equivalent staff within each charitable activity.

Support costs, included in the above, are as follows:

Governance costs

Trustees' expenses
Wages
Social security
Pensions
Auditors' remuneration
Sundries
Accountancy and legal fees		 Wellbeing
£
-
14,813
1,882
2,753
3,782
23
503
23,756		 Sport and
Leisure
£
-
125,068
15,887
23,244
31,933
197
4,763
201,092		 2022
Total
activities
£
-
139,881
17,769
25,997
35,715
220
5,266
224,848		 2021
Total
activities
£
1,152
178,502
21,488
31,635
36,590
1,735
1,993
273,095

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Auditors remuneration
Depreciation - owned assets
Depreciation - assets on hire purchase contracts and finance leases
Deficit on disposal of fixed assets		 2022
£
35,715
73,258
93,197
39,486		 2021
£
36,590
144,510
733,830
-

continued...

Page 31

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

Trustees' expenses
12.
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2022
£
-
2022
£
2,891,461
272,233
489,160
3,652,854		 2021
£
1,152
2021
£
9,564,104
632,836
1,191,155
11,388,095

The number of full time equivalents permanent employees of the charitable company was as follows:

Business development and financial services
Sport and leisure
Wellbeing
Senior management team		 2022
12
87
10
2
111		 2021
37
274
70
5
386

The average monthly number of employees during the year was as follows:

Business development and financial
services
Sport and leisure
Wellbeing
Senior management team		 2022
-
13
191
12
2
218		 2021
38
-
403
92
5
538

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

£60,001 - £70,000
£80,001 - £90,000
£90,001 - £100,000		 2022
-
1
1
2		 2021
4
1
-
5

Key management personnel remunerations including contributions to pension schemes totalled £180,758 (2021: £425,434).

continued...

Page 32

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
Endowment
fund
funds
fund
£
£
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Management fee from Wigan Council
1,988,583
-
-
Wellbeing
2,685,414
509,632
-
Sport and Leisure
10,939,871
127,316
-
Investment income
31,215
28,329
-
Other income
371,262
-
-
Total
16,016,345
665,277
-
EXPENDITURE ON
Raising funds
24,400
-
22,257
Charitable activities
Wellbeing
2,959,247
220,687
-
Sport and Leisure
15,017,267
290,964
-
Total
18,000,914
511,651
22,257
Net gains on investments
268,717
-
251,717
NET INCOME/(EXPENDITURE)
(1,715,852)
153,626
229,460
Transfers between funds
(71,682)
71,682
-
Other recognised gains/(losses)
Actuarial gains/(losses) on defined benefit
schemes
(7,661,000)
-
-
Net movement in funds
(9,448,534)
225,308
229,460
RECONCILIATION OF FUNDS
Total funds brought forward
4,999,304
456,445
1,839,445
TOTAL FUNDS CARRIED FORWARD
(4,449,230)
681,753
2,068,905
Total
funds
£
1,988,583
3,195,046
11,067,187
59,544
371,262
16,681,622
46,657
3,179,934
15,308,231
18,534,822
520,434
(1,332,766)
-
(7,661,000)
(8,993,766)
7,295,194
(1,698,572)

continued...

Page 33

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

14. TANGIBLE FIXED ASSETS

COST
At 1 April 2021
Additions
Disposals
At 31 March 2022
DEPRECIATION
At 1 April 2021
Charge for year
Eliminated on disposal
At 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021		 Leasehold
improvements
£
928,644
49,729
(357,943)
620,430
843,641
68,580
(338,204)
574,017
46,413
85,003		 Plant and
equipment
£
6,556,642
(1)
(5,715,840)
840,801
4,912,224
97,875
(4,510,740)
499,359
341,442
1,644,418		 Computer
equipment
& software
£
463,113
-
(463,113)
-
463,113
-
(463,113)
-
-
-		 Totals
£
7,948,399
49,728
(6,536,896)
1,461,231
6,218,978
166,455
(5,312,057)
1,073,376
387,855
1,729,421

The net book value of tangible fixed assets includes £ 341,442 (2021 - £ 1,596,628 ) in respect of assets held under hire purchase contracts.

On 1[st] April 2021 assets with a netbook value of £1,185,353 along with the respective hire purchase contracts were transferred to Wigan Council following the contract termination and under the terms of the settlement agreement.

15. FIXED ASSET INVESTMENTS

Total fixed asset investments comprise:

Listed investments (a)
Listed investments (restricted) (b)
Investment in subsidiary (c)		 2022
£
2,166,717
2,116,961
-
4,283,678		 2021
£
2,145,949
2,089,132
1
4,235,082

The listed investments are managed portfolios held with Tilney Investment Management. They are carried at the fair value for the portfolio at the balance sheet date.

The main risk to the Charity from financial instruments lies in the combination of uncertain investment markets and volatility in yield. The Charity is reliant on dividend yield to finance its work and this leads to a greater exposure to international companies, the values of which, together with their yield are exposed to exchange rate risk when converting the holdings into sterling.

Liquidity risk is anticipated to be low as all assets are traded and the commitment to intervention by cental banks and market regulators has continued to provide for orderly trading in the markets and so the ability to buy and sell quoted equities and stock is anticipated to continue. The Charity's investments are mainly traded in markets with good liquidity and high trading volumes. The Charity has no material investment holdings in markets subject to exchange controls or trading restrictions.

continued...

Page 34

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

15. FIXED ASSET INVESTMENTS - continued

The Charity manages these investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges. The Charity does not make use of derivatives and similar complex financial instruments as it takes the view that investments are held for their longer term yield total return and historic studies of quoted financial instruments have shown that volatility in any particular five year period will normally by corrected.

The investment in subsidiary is valued at cost.

(a) Listed investments

Market value at 1 April
Investment income
Management fees
Realised/unrealised profits on revaluation
Market value at 31 March		 2022
£
2,145,949
29,930
(26,554)
17,392
2,166,717		 2021
£
1,871,496
30,136

(24,400)
268,717
2,145,949

The investments held within the portfolio are as follows:

Investments listed on a recognised stock exchange
Cash balances		 2022
£
1,951,905
214,812
2,166,717		 2021
£
1,902,356
243,593
2,145,949

The historic cost of individual investments (including cash balances) is £1,912,741 (2021 £1,956,079)

Investments forming more than 5% of the value of the investment portfolio are as follows:

Cash balances
Ishares £ index-linked gilts UCITS ETF
(b) Listed investments (restricted)
Market value at 1 April
Investment income
Cash withdrawn
Management fees
Realised/unrealised profits (loss)
Market value at 31 March		 2022
£
2,089,133
25,879
-
(25,509)
27,458
2,116,961		 2022
£
214,812
134,890
2021
£
1,831,343
28,329
-

(22,257)
251,717
2,089,132

Page 35

continued...

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

15. FIXED ASSET INVESTMENTS - continued

The investments held within the portfolio are as follows::

Investments listed on a recognised stock exchange
Cash balances		 2022
£
1,902,180
214,781
2,116,961		 2021
£
1,849,467
239,665
2,089,132

The historic cost of individual investments (including cash balances) is £1960,556 (2021:£1,923,751).

Investments forming more than 5% of the value of the investment portfolio are as follows:

Index linked gilts
Cash balances
c) Investment in subsidiary undertaking
2022
£
Investment in subsidiary
-
During the year the subsidiary was struck off the register via a voluntary striking off.
16.
STOCKS
2022
£
Raw materials and consumables
4,873
Finished goods & goods for res ale
37,503
42,376
17.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Trade debtors
113,826
Other debtors
588,014
Prepayments and accrued income
39,318
741,158		 2022
£
117,941
214,781
2021
£
1
2021
£
17,633
78,681
96,314
2021
£
700,130
1,206,809
69,852
1,976,791

Page 36

continued...

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Finance leases (see note 20)
95,295
Trade creditors
115,794
Other taxation and social secu rity
173,302
Other creditors
202,020
Accruals and deferred income
1,447,811
Accrued expenses
-
2,034,222
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022
£
Finance leases (see note 20)
189,705		 2021
£
591,955
1,034,824
641,854
593,209
672,486
3,469
3,537,797
2021
£
885,497

19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

20. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Net obligations repayable:
Within one year
Between one and five years		 Finance leases
2022
2021
£
£
95,295
591,955
189,705
885,497
285,000
1,477,452		 Finance leases
2022
2021
£
£
95,295
591,955
189,705
885,497
285,000
1,477,452
1,477,452

On 1[st] April 2021 leases due within one year of £443,255 and due between one and five years of £607,602 along with the associated assets were transferred to Wigan Council following the contract termination and under the terms of the settlement agreement.

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Pension asset/(liability)		 Unrestricted
fund
£
387,855
2,166,717
1,128,951
(1,910,691)
(189,705)
345,000
1,928,127		 Restricted
funds
£
-
-
621,177
(77,423)
-
-
543,754		 Endowment
fund
£
-
2,116,961
1
(46,108)
-
-
2,070,854		 2022
Total
funds
£
387,855
4,283,678
1,750,129
(2,034,222)
(189,705)
345,000
4,542,735		 2021
Total
funds
£
1,729,421
4,235,082
2,322,219
(3,537,797)
(885,497)
(5,562,000)
(1,698,572)

continued...

Page 37

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

22. MOVEMENT IN FUNDS

Restricted funds
Highams Bequest
Haigh Kitchen Courtyard Sinking Fund
Cannock Sinking Fund
Wellbeing
Active Living
SDU - Satellite Clubs Programme
SDU Believe Talent Fund
SDU - Cannock
Selby Additional Commissioning MILI
Greater Manchester Arts 2012 and 2013
Greater Manchester Arts 2014
Greater Manchester Arts 2015
GM Active
GM Active – Sport England
Digital Cycling
Culture Recovery Fund
Sport and Leisure
Haigh Golf Course
Nantional Leisure Recovery Fund
Arts - Wigan Link for Life
Arts - Cannock
Arts - Cannock Grow up Great
Chase IT External Funding
Chase UP External Funding
Endowment funds
Highams Endowment Fund
Unrestricted funds
Transformation fund
Pension reserve fund
General fund
Total unrestricted funds
TOTAL FUNDS		 At 1/4/21
£
99,510
90,000
50,000
13,074
10,040
10,000
2,350
38,531

28,072
560
2,829
32,382
36,125
15,964
119,376
3,101
-
15,218
9,087
528
17,630
87,376
681,753
2,068,905
600,000
(5,562,000)
512,770
(4,449,230)
(1,698,572)		 Incoming
resources
£
25,879
-
-
-
-
-
-
31,684
-
-
-
-
-
-
196,936
-
112,404
-
14,966
-
-
53,235
435,104
-
-
5,846,000
7,160,451
13,006,451
13,441,555		 Resources
expended
£
(6,620)
(39,746)
-
(13,074)
(10,040)
(10,000)
-
(18,994)
(28,072)
(560)
(2,829)
(32,382)
(36,125)
(15,964)
(317,155)
(3,101)
-
(15,218)
-
-
-
(23,808)
(573,689)
(25,509)
-
(2,479,000)
(6,706,054)
(9,185,054)
(9,784,252)		 Gains and
losses
Transfers
At 31/03/22
£
£
£
-
-
118,769
-
(50,254)
-
-
50,000
100,000
-
-
-
-
-
-
-
-
-
-
-
2,350
-
(1)
51,219
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
843
-
-
-
-
-
-
112,404
-
-
-
-
-
24,053
-
(1)
527
-
-
17,630
-
(1)
116,802
-
586
543,754
27,458
-
2,070,854
-
328,540
928,540
2,540,000
-
345,000
16,546
(329,126)
654,587
2,556,546
(586)
1,928,127
2,584,004
-
4,542,735		 Gains and
losses
Transfers
At 31/03/22
£
£
£
-
-
118,769
-
(50,254)
-
-
50,000
100,000
-
-
-
-
-
-
-
-
-
-
-
2,350
-
(1)
51,219
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
843
-
-
-
-
-
-
112,404
-
-
-
-
-
24,053
-
(1)
527
-
-
17,630
-
(1)
116,802
-
586
543,754
27,458
-
2,070,854
-
328,540
928,540
2,540,000
-
345,000
16,546
(329,126)
654,587
2,556,546
(586)
1,928,127
2,584,004
-
4,542,735		 Gains and
losses
Transfers
At 31/03/22
£
£
£
-
-
118,769
-
(50,254)
-
-
50,000
100,000
-
-
-
-
-
-
-
-
-
-
-
2,350
-
(1)
51,219
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
843
-
-
-
-
-
-
112,404
-
-
-
-
-
24,053
-
(1)
527
-
-
17,630
-
(1)
116,802
-
586
543,754
27,458
-
2,070,854
-
328,540
928,540
2,540,000
-
345,000
16,546
(329,126)
654,587
2,556,546
(586)
1,928,127
2,584,004
-
4,542,735

1,928,127

4,542,735

continued...

Page 38

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

22.
MOVEMENT IN FUNDS - continued
Comparatives
At 1/4/20
Incoming
resources
Resources
expended
Gains and
losses
Transfers
At 31/03/21
£
£
£
£
£
£
Restricted funds
Highams Bequest
71,181
28,329
-
-
-
99,510
Summit Indoor Adventure Sinking Fund
61,403
-
(77,423)
-
16,020
-
Haigh Kitchen Courtyard Sinking Fund
70,000
-
-
-
20,000
90,000
Cannock Sinking Fund
-
-
-
-
50,000
50,000
Wellbeing
Active Living
20,369
-
(7,295)
-
-
13,074
SDU - Satellite Clubs Programme
10,040
-
-
-
-
10,040
SDU Believe Talent Fund
10,000
-
-
-
-
10,000
SDU - Cannock
2,350
-
-
-
-
2,350
Selby Additional Commissioning MILI
14,803
34,349
(10,622)
-
1
38,531
Selby Sports
1
-
-
-
(1)
-
Greater Manchester Arts 2012 and 2013
28,072
-
-
-
-
28,072
Greater Manchester Arts 2014
560
-
-
-
-
560
Greater Manchester Arts 2015
2,829
-
-
-
-
2,829
GM Active
60,324
53,832
(81,774)
-
-
32,382
Active Care Homes
18,047
-
(3,709)
-
(14,338)
-
GM Active – Sport England
-
80,000
(43,875)
-
-
36,125
Digital Cycling
-
32,800
(16,836)
-
-
15,964
Culture Recovery Fund
-
308,651
(189,275)
-
-
119,376
Sport and Leisure
Haigh Golf Course
3,101
-
-
-
-
3,101
Heritage - MOCC Cannock
1
-
-
-
(1)
-
Arts - Wigan Link for Life
15,218
-
-
-
-
15,218
Arts - Cannock
4,144
6,193
(1,250)
-
-
4,144
Arts - Cannock Grow up Great
527
-
-
-
1
528
Chase IT External Funding
3,805
13,825
-
-
-
17,630
Chase UP External Funding
43,374
89,646
(45,644)
-
-
87,376
Iron Bridge Gorge
-
2,952
(2,952)
-
-
-
Coach Core Funding
16,296
14,700
(30,996)
-
-
-
456,445
665,277
(511,651)
-
71,682
681,753
Endowment funds
Highams Endowment Fund
1,839,445
-
(22,257)
251,717
-
2,068,905
Unrestricted funds
Transformation fund
-
-
-
600,000
600,000
Pension reserve fund
2,613,000
-
(514,000) (7,661,000)
-
(5,562,000)
General fund
2,386,304
16,592,109
(18,062,678)
268,717
(671,682)
512,770
Total unrestricted funds
4,999,304
16,592,109
(18,576,678)
(7,392,283)
(71,682)
(4,449,230)
TOTAL FUNDS
7,295,194
17,257,386
(19,110,586)
(7,140,566)
-
(1,698,572)		 22.
MOVEMENT IN FUNDS - continued
Comparatives
At 1/4/20
Incoming
resources
Resources
expended
Gains and
losses
Transfers
At 31/03/21
£
£
£
£
£
£
Restricted funds
Highams Bequest
71,181
28,329
-
-
-
99,510
Summit Indoor Adventure Sinking Fund
61,403
-
(77,423)
-
16,020
-
Haigh Kitchen Courtyard Sinking Fund
70,000
-
-
-
20,000
90,000
Cannock Sinking Fund
-
-
-
-
50,000
50,000
Wellbeing
Active Living
20,369
-
(7,295)
-
-
13,074
SDU - Satellite Clubs Programme
10,040
-
-
-
-
10,040
SDU Believe Talent Fund
10,000
-
-
-
-
10,000
SDU - Cannock
2,350
-
-
-
-
2,350
Selby Additional Commissioning MILI
14,803
34,349
(10,622)
-
1
38,531
Selby Sports
1
-
-
-
(1)
-
Greater Manchester Arts 2012 and 2013
28,072
-
-
-
-
28,072
Greater Manchester Arts 2014
560
-
-
-
-
560
Greater Manchester Arts 2015
2,829
-
-
-
-
2,829
GM Active
60,324
53,832
(81,774)
-
-
32,382
Active Care Homes
18,047
-
(3,709)
-
(14,338)
-
GM Active – Sport England
-
80,000
(43,875)
-
-
36,125
Digital Cycling
-
32,800
(16,836)
-
-
15,964
Culture Recovery Fund
-
308,651
(189,275)
-
-
119,376
Sport and Leisure
Haigh Golf Course
3,101
-
-
-
-
3,101
Heritage - MOCC Cannock
1
-
-
-
(1)
-
Arts - Wigan Link for Life
15,218
-
-
-
-
15,218
Arts - Cannock
4,144
6,193
(1,250)
-
-
4,144
Arts - Cannock Grow up Great
527
-
-
-
1
528
Chase IT External Funding
3,805
13,825
-
-
-
17,630
Chase UP External Funding
43,374
89,646
(45,644)
-
-
87,376
Iron Bridge Gorge
-
2,952
(2,952)
-
-
-
Coach Core Funding
16,296
14,700
(30,996)
-
-
-
456,445
665,277
(511,651)
-
71,682
681,753
Endowment funds
Highams Endowment Fund
1,839,445
-
(22,257)
251,717
-
2,068,905
Unrestricted funds
Transformation fund
-
-
-
600,000
600,000
Pension reserve fund
2,613,000
-
(514,000) (7,661,000)
-
(5,562,000)
General fund
2,386,304
16,592,109
(18,062,678)
268,717
(671,682)
512,770
Total unrestricted funds
4,999,304
16,592,109
(18,576,678)
(7,392,283)
(71,682)
(4,449,230)
TOTAL FUNDS
7,295,194
17,257,386
(19,110,586)
(7,140,566)
-
(1,698,572)		 22.
MOVEMENT IN FUNDS - continued
Comparatives
At 1/4/20
Incoming
resources
Resources
expended
Gains and
losses
Transfers
At 31/03/21
£
£
£
£
£
£
Restricted funds
Highams Bequest
71,181
28,329
-
-
-
99,510
Summit Indoor Adventure Sinking Fund
61,403
-
(77,423)
-
16,020
-
Haigh Kitchen Courtyard Sinking Fund
70,000
-
-
-
20,000
90,000
Cannock Sinking Fund
-
-
-
-
50,000
50,000
Wellbeing
Active Living
20,369
-
(7,295)
-
-
13,074
SDU - Satellite Clubs Programme
10,040
-
-
-
-
10,040
SDU Believe Talent Fund
10,000
-
-
-
-
10,000
SDU - Cannock
2,350
-
-
-
-
2,350
Selby Additional Commissioning MILI
14,803
34,349
(10,622)
-
1
38,531
Selby Sports
1
-
-
-
(1)
-
Greater Manchester Arts 2012 and 2013
28,072
-
-
-
-
28,072
Greater Manchester Arts 2014
560
-
-
-
-
560
Greater Manchester Arts 2015
2,829
-
-
-
-
2,829
GM Active
60,324
53,832
(81,774)
-
-
32,382
Active Care Homes
18,047
-
(3,709)
-
(14,338)
-
GM Active – Sport England
-
80,000
(43,875)
-
-
36,125
Digital Cycling
-
32,800
(16,836)
-
-
15,964
Culture Recovery Fund
-
308,651
(189,275)
-
-
119,376
Sport and Leisure
Haigh Golf Course
3,101
-
-
-
-
3,101
Heritage - MOCC Cannock
1
-
-
-
(1)
-
Arts - Wigan Link for Life
15,218
-
-
-
-
15,218
Arts - Cannock
4,144
6,193
(1,250)
-
-
4,144
Arts - Cannock Grow up Great
527
-
-
-
1
528
Chase IT External Funding
3,805
13,825
-
-
-
17,630
Chase UP External Funding
43,374
89,646
(45,644)
-
-
87,376
Iron Bridge Gorge
-
2,952
(2,952)
-
-
-
Coach Core Funding
16,296
14,700
(30,996)
-
-
-
456,445
665,277
(511,651)
-
71,682
681,753
Endowment funds
Highams Endowment Fund
1,839,445
-
(22,257)
251,717
-
2,068,905
Unrestricted funds
Transformation fund
-
-
-
600,000
600,000
Pension reserve fund
2,613,000
-
(514,000) (7,661,000)
-
(5,562,000)
General fund
2,386,304
16,592,109
(18,062,678)
268,717
(671,682)
512,770
Total unrestricted funds
4,999,304
16,592,109
(18,576,678)
(7,392,283)
(71,682)
(4,449,230)
TOTAL FUNDS
7,295,194
17,257,386
(19,110,586)
(7,140,566)
-
(1,698,572)

(1,698,572)

continued...

Page 39

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

22. MOVEMENT IN FUNDS - continued

Wellbeing - predominately relates to the delivery of contracted Public Health programmes and funding from other external bodies in order to provide health and wellbeing services and the development of community health projects.

Sports & Leisure - External funding for the delivery of a number of projects including the Chase IT project which delivers Activities to disadvantaged and disabled children and the Chase Up project which is a community health and wellbeing project focused on using and developing greenspaces within Cannock Chase.

Following the cessation of the Wigan contract those restricted funds were transferred to the Wigan Settlement Balance and the services they were to facilitate were transferred to Wigan Council.

During the year the Haigh Kitchen Sinking fund was transferred to creditors or redistributed to tenants following the transfer of the Wigan contract and the cessation of the fund..

The Cannock sinking fund relates to the required support and investment into the ATP/Pool at Rugeley LC in line with the agreement of the Board and contractual client.

Highams Endowment and Bequest - the bequest fund is the accumulated income generated from the endowment after the costs for the provision of military bands in Mesnes Park, which is a condition of the bequest.

Designated Funds

During the year the board has utilised £99,683 of the brought forward designated funds for part of the ongoing payroll project. The board have further increased the designated fund to £928,540 for the further transformation of the organisation including the implementation of a number of key projects inclusive of :- ( Re-procurement of the ICT contract and Asset Refresh, Re-procurement of the CRM System, Digitisation/Web Development, HR/Payroll and Service Improvements)

continued...

Page 40

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

23. EMPLOYEE BENEFIT OBLIGATIONS

The charitable company participates in three defined benefit pension schemes. A summary is set out below:

Surplus at 1 April 2021
Pension scheme operating (charge)/income
Pension finance (costs)/credits
Actuarial gains/(losses)
Surplus/(deficit) at 31 March 2022		 Total
£
(5,562,000)
3,373,000
(6,000)
2,540,000
345,000		 Greater
Manchester
£
(6,771,000)
5,334,000
(28,000)
447,000
(1,018,000)		 North
Yorkshire
Staffordshire
£
£
1,458,000
(249,000)
(1,698,000)
(263,000)
30,000
(8,000)
210,000
1,883,000
0
1,363,000

The amounts recognised in the balance sheet are as follows:

Present value of funded obligations
Fair value of plan assets
(Deficit)/ Surplus at 31 March 2022		 Total
£
(14,585,000)
14,930,0000
345,000		 Greater
Manchester
£
(2,842,000)
1,824,000
(1,018,000)		 North
Yorkshire
Staffordshire
£
£
(2,974,000)
(8,769,000)
2,974,000
10,132,000
0
1,363,000

The amounts recognised in the Statement of Financial Activities are as follows:

Current service cost
Net interest from net defined benefit
asset/liability
Past service cost
Restriction of recognition of pension asset
Effects of settlements (credit)		 Defined benefit
pension plans
2022
2021
£
£
474,000
1,084,000
(6,000)
54,000
62,000
-
1,698,000
-
(5,486,000)
-
(3,258,000)
1,138,000

Changes in the present value of the defined benefit obligation are as follows:

Opening defined benefit obligation
Current service cost
Past service cost
Contributions by scheme participants
Interest cost
Actuarial losses/(gains)
Benefits paid
Settlements		 Defined benefit
pension plans
2022
2021
£
£
107,347,000
81,956,000
474,000
1,084,000
62,000
-
64,000
210,000
323,000
1,875,000
(1,416,000)
24,226,000
(105,000)
(2,004,000)
(92,164,000)
-
14,585,000
107,347,000

continued...

Page 41

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

23. EMPLOYEE BENEFIT OBLIGATIONS - continued

Changes in the fair value of scheme assets are as follows:

Opening fair value of scheme assets
Interest income
Contributions by employer
Contributions by scheme participants
Actuarial gains/(losses)
Benefits paid
Settlements		 Defined benefit
pension plans
2022
2021
£
£
101,785,000
84,569,000
317,000
1,929,000
121,000
516,000
64,000
210,000
1,124,000
16,565,000
(105,000)
(2,004,000)
(88,376,000)
-
14,930,000
101,785,000

The amounts recognised in other recognised gains and losses are as follows:

Changes in financial assumptions
Changes in demographic assumptions
Other experience
Return on assets excluding net interest		 2022
£
1,330,000
60,000
(21,000)
1,171,000
2,540,000		 2021
£
(23,589,000)
(508,000)
851,000
15,585,000
(7,661,000)

This page does not form part of the statutory financial statements

Page 42

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

22. EMPLOYEE BENEFIT OBLIGATIONS - continued

Greater Manchester Pension Fund Defined Benefit Scheme

The charitable company has established a funded defined benefit pension scheme for eligible employees. With effect from 1 April 2003, following the transfer of employees from Wigan Metropolitan Borough Council to the group, the employees of the group have remained as members of the Greater Manchester Pension Fund. On 1 April 2021 the majority of the employees transferred back to Wigan Council. After the balance sheet date the remaining employees in the LGPS transferred from GMPF to Staffordshire Pension Fund.

The Greater Manchester Pension Fund, a final salary defined benefit scheme, is administered in accordance with the Local Government Pension Scheme Regulations 1997. For the purposes of FRS 102 it has been possible to identify the charitable company’s share of the underlying assets and liabilities of the Greater Manchester Pension Fund.

The assets of the scheme are invested and managed independently of the finances of the Charity. The pension costs relating to this scheme is calculated on the projected unit method and is assessed with the advice of a qualified actuary. The latest actuarial assessment of this scheme was on 31 March 2019 and was carried out by Hyman Robertson LLP, an independent actuary. The next full actuarial valuation will take place as at 31 March 2022

The major categories of scheme assets as a percentage of total scheme assets are as follows:

Equities
Bonds
Property
Cash		 Defined benefit
pension plans
2022
2021
69%
72%
13%
12%
8%
7%
10%
9%
100%
100%		 Defined benefit
pension plans
2022
2021
69%
72%
13%
12%
8%
7%
10%
9%
100%
100%
100%

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2022 2021
Discount rate 2.75% 2.05%
Future salary increases 3.90% 3.55%
Future pension increases 3.15% 2.80%
2022 2021
Males Females Males Females
Years Years Years Years
Current pensioners 20.3
23.2 20.5 23.3
Future pensioners 21.6
25.1 21.9 25.3

This page does not form part of the statutory financial statements

Page 43

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022

22. EMPLOYEE BENEFIT OBLIGATIONS - continued

North Yorkshire Pension Fund Defined Benefit Scheme

With effect from 1 September 2009, following the transfer of employees from Selby District Council to the charitable company, the transferred employees of the charitable company have remained as members of the North Yorkshire Pension Fund.

The North Yorkshire Pension Fund, a final salary defined benefit scheme, is administered in accordance with the Local Government Pension Scheme Regulations 1997. For the purposes of FRS 102 it has been possible to identify the charitable company’s share of the underlying assets and liabilities of the North Yorkshire Pension Fund.

The assets of the scheme are invested and managed independently of the finances of the Charity. The pension costs relating to this scheme is calculated on the projected unit method and is assessed with the advice of a qualified actuary. The latest actuarial assessment of this scheme was on 31 March 2019 and was carried out by Aon Hewitt Limited, an independent actuary. The next full actuarial valuation has taken place on 31 March 2022 but was not available at the time of preparing the FRS 102 valuation data.

The major categories of scheme assets as a percentage of total scheme assets are as follows:

Equities
Bonds - Government
Bonds – Corporate
Property
Cash
Other		 Defined benefit
pension plans
2022
2021
55.7%
57.8%
16.8%
16.2%
7.7%
2.1
7.4%
6.1%
1.1%
3.3%
11.3%
14.5%
100%
100%

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2022 2021
Discount rate 2.70% 2.10%
Future salary increases 4.15% 3.85%
Future pension increases 2.90% 2.60%
2022 2021
Males Females Males Females
Years Years Years Years
Current pensioners 21.8 23.8 21.9 24.0
Future pensioners 23.5 25.7 23.6 25.8

This page does not form part of the statutory financial statements

Page 44

DocuSign Envelope ID: D9590B94-6A59-46DA-B7BC-F6BD1F713E39

INSPIRING HEALTHY LIFESTYLES

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

22. EMPLOYEE BENEFIT OBLIGATIONS - continued

Staffordshire Pension Fund Defined Benefit Scheme

With effect from 1 April 2013, following the transfer of employees from Cannock District Council to the charitable company, the transferred employees of the charitable company have remained as members of the Staffordshire Pension Fund.

The Staffordshire Pension Fund, a final salary defined benefit scheme, is administered in accordance with the Local Government Pension Scheme Regulations 1997. For the purposes of FRS 102 it has been possible to identify the charitable company’s share of the underlying assets and liabilities of the Staffordshire Pension Fund.

The assets of the scheme are invested and managed independently of the finances of the Charity. The pension’s costs relating to this scheme is calculated on the projected unit method and is assessed with the advice of a quailed actuary. The latest actuarial assessment of this scheme was on 31 March 2019 and was carried out by Hyman Robertson LLP, an independent actuary. The next full actuarial valuation has taken place on 31 March 2022 but was not available at the time of preparing the FRS 102 valuation data.

The major categories of scheme assets as a percentage of total scheme assets are as follows:

Equities
Bonds
Property
Cash		 Defined benefit
pension plans
2022
2021
69%
71%
17%
17%
8%
8%
6%
4%
100%
100%		 Defined benefit
pension plans
2022
2021
69%
71%
17%
17%
8%
8%
6%
4%
100%
100%
100%

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2022 2021
Discount rate 2.75% 2.05%
Future salary increases 3.55% 3.2%
Future pension increases 3.15% 2.8%
2021 2021
Males Females Males Females
Years Years Years Years
Current pensioners 21.2 23.8 21.4 24.0
Future pensioners 22.2 25.5 22.5 25.7

24. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

This page does not form part of the statutory financial statements

Page 45