2020-12-31-accounts - Fusion Lifestyle

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							Page
Reference and administrative	details ofthe company,		Its trustees		and advisers
Trustees' report Incorporating	the strategic report						2 —16
Independent auditor's report							17 —20
Consolidated statement offinancial		activities lincorporating		consolidated		Income	21
and expenditure account)
Consolidated balance sheet							22
Company balance sheet							23
Consogdated cash flow statement							24
Notes to the financial statements							25-45

ncluded with	in the net movemen	t in Funds Eor. the year are the F	ollowing one-oFF non
			/;,000
Net income	and net movement	in Funds for the year	(18,323)
COVID secure implementation		costs	410
Divesunent	costs		6,272

Streamlined energy and carbon reporting	Streamlined energy and carbon reporting
UI( Greenhouse gas emissions and energy use dam		for the period		1Januar& to 31 December
				2020	2019
Energy consumption	used to calculate enussions	(kWh)		69,794,667	149,339,265
Energy consumption	break down (kWh):
gas				51&508)579	106,651,771
electricity				17&920,847	42,129,261
ttansport fuel				365,242	558,233
Scope 1 emissions in	metric tonnes CO2e
gas consumption				9&470	19,608
fugitive Emissions				nil	nil
Total scope I				9&470	19,608
Scope 2 emissions in	metric tonnes CO2e Purchased		electricity	4,178	11,682
Scope 3 emissions in metric tonnes CO2e Business employee owned vehicles			rravel in	725	130
Total gross emissions	m metric tonnes CO2e			14&372	51,029
Intensity ratio
Tonnes CO2e per leisure centre visit				0.0030	0.0034

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Note	2020	2020	2020	2019
				$000	$000	$000	QENO
Income:
Income From charitable	activities:
Community sports services			3	35,442		35&442	85,696
Investment income			4	2		2	4
Donation income			5		13)251	13)251	729
Total income				35,444	13,251	48,695	86,429
Expenditure on:
Expenditure on charitable		activities:
Operadon oFcommunity	sports services		6	53,626	13)251	66,877	85,039
Total expenditure				))6 6	13451	~66 877	85,039
Net income and net movement in funds				(18)182)		(18)182)	1,390
for the year
Actuarial gosses)/gains	on	defined benefit		(141)		(141)	(29)
pension schemes
Net movement in funds				(18,323)		(18,323)	1,361
Reconciliation offunds:
Total Funds brought Eomard				14,453		14,453	I3,092
Total funds carded forward				3870		~3&870	14,453

As at 31Decemb	er 2020
							2020		2019
						Note	$000	$000	F000	I;000
Fixed assets
Intangible assets								588		805
Tangible assets						12		22,899		33,254
								23,487		34,059
Cunent assets
Stocks									184
Debtors						15	3,157
Cash at bank and	in hand						6 4		1,317
0 61: 10' gd Net current assets/(liabilities)			'd'		*y.	1	8,831 ~65	2,574	5,041 ~6286	~45
Total assets less	current liabilities							26,061		32,814
Creditors: amounts falluig due afier one Accruals and defened income Net assets excluding pension liability					year	17 18		(20,895) ~8,331 (3,165)		(11,491) ~6,395 14,928
Defined benefit pension scheme			liaiiility					(705)		(475)
Net assets including pension			liability							14,453
Charity Funds
Restricted funds									38
Unrestricted funds:
Unrestricted funds Pension reserve	excluding	pension		liability		(3,165) ~05			14,890 ~475
Total unrestricted funds Total funds ofthe group								~5ZQl

							2020		2019
					Note		$000	$000	$000	$000
Fixed assets
Intangible assets					11			475		602
Tangible assets Invesnnents					12 13			22,495 ~72		32,898
								23,699		34,288
Current assets
Stocks									157
Debtors Cash at bank and in hand					15	3&531 ~5027			3,574 ~12
Creditors: amounts falling Net assets/(liabilides)	due	within	one year		16	8&558 ~0		~1	4,883
Total a88ets le88 current	liabilities							26&217		32,514
Ctcditors: amounts falling	due	after one year			17			(20&835)		(11,360)
Accruals and deferred inconie					18					5222
Net assets excluding pension liability								(2&951)		14,759
Defmed benefit pension scheme liabiTity Net assets including pension liability									~28
The funds ofthe charity
Restricted Funds
Unrestricted funds;
Unrestricted funds excluding		pension	liabiTity				(2&951)		14,759
Pension reserve							705
Total unrestricted funds								3&656		14,284
Total chadty 1'unde								3&656		14,284
The financial statements	were	approved		by the	Tmstees	on	atgH~	2021 and signed on their behalf		by Mike
Nelson.
The notes on pages 25 to 45		form part ofthese			financial	statements
						23

			2020	2019
		Note	$000	$000
Cash flows from operating actlvlties
Net cash provided by 6&perating activities				3,255
Cash flov)s from investing activities:
Cash acquired with reactive Life Purchase oFintangible Fixed assets Purchase oftangible hied assets Proceeds front sale of fixed assets Interest received Cash infiows from new iinance lease obligations Interest paid Net cash used in investing activities			(6) (4)865) 3)022 2 ~), 5 ~3,662	1,037 (63) (10,100) 2,221 4 1,243 ~553 ~62 )
Cash ilows from financing activities:
Repayments ofborrowings Repayment offlnance lease obligations Cash inflows From new loans			(3,992) (434)	(1,360) (295)
Net cash provided/(used) by Bnancing activities			8 885	C&93
Change in cash and cash equivalents	in the year		4,357	(2,291)
Cash and cash equivalents brought Fonvard			1&317	3,608
Cash and cash equivalents carded forward			5,674	1,317

			Total	Total
			funds	funds
			2020	2019
			$000	L000
	Community	spons services	35,442	85,696
4.	Investment	income
			2020	2019
			$000	$000
	Deposit account mterest		2	4
5.	Donation Income
			2020	2019
			If000	$000
	Donatiou Income		13,251	729

Summary	by exp	enditure t	ype
			Staff	costs	Support	Dhect	Fixed	Total	Total
				$000	costs	costs	asset	funds	funds
					$000	$000	disposal	2020	2019
							$000	$000	/'000
Conmnlnity	sports	service		30&888	28&995	1,437	5,557	66,877	85,039

Analysis of support	and governance	costs
		General	Governance	Total	Total
		support	function	2020	2019
		$000	$000	$000	$000
ITcosts		1,318		1&318	1,895
Finance costs		1)664		1,6G4	959
Marketing materials		637		637	1,392
Administration		7&190		7&190	6,872
Other staff rehted costs		442		442	9G4
Facilities management	costs	10,845		10&845	21,373
Amotxisation		195		195	193
Depreciation		6&6G7		6&667	6,807
Audiror Fees			36	36	36
Ttustee expenses					1

his is stated after charging
		2020	2019
		$000	$000
Divestment costs		6&,272
COVID secure implementation	costs	410
Staff restructuring costs		1,860	45
Depredation of tangible fixed - owned by the group	assets:	6,667	6,714
Auditor's remuneration:
—Company —Subsidiary Amortisation ofpre-contract Atnornsation ofgoodwill	costs	30 6 105 K	30 6 103

					2020	2019
					/„000	3F000
Wages and salaries				26,680		37,141
Social security costs					1,437	2,050
Other pension costs					911	1,239
				~E
StaFf restructuring	costs				1,860	45
				30,888		40&475
he average numbet	ofpersons	employed	by die company	dunng	the year was as Follows:
					2020	2019
					No.
					2&500

T	he n	umber	oflugher paid employees was:
				2020	2019
				No.	No.
In	the	band	/;60,001 —/70,000	4	7
In	the	band	/70,001 —/;80,000	3	4
In	the	band	/;80,001 —/;90,000	1	2
In	the	band	/„'100,001 —/;110,000	2
In	the	band	/;110,001 —/;120,000
In	the	band	/;120,001 —/;130,000
In	the	band	/;150,001 —/;160,000
ln	the	band	/„170,Nl1 —/„'180,000
In	the	band	3F190,001-/;200,N(0
In	the	band	/;210,001-&r220,000

Expected return on	pension	scheme assets
Interest on pension	scheme	liabilities

Intangible fixed assets
	Pre contract
	costs	Goodwill	Total
Group	$000	$000	$000
Cost
At 1January 2020	1,614	700	2,314
Additions	6		6
Disposals	(229)		(229)
At 31December 2020	~139		~2091
Amortlsation
At 1January 2020	1,012	496	1,508
Charge for the year	105	90	195
Disposals At 31December 2020	(201) 916	g5	(201) ~12
Cartying amount
At 31 December 2020
At 31December 2019

	Pre contract costs
Company	$000
Coat
At 1January 2020	1,614
Additions	6
Disposals	(229)
At 31December 2020	L321
Atnortisation
At 1January 2020	1,012
Charge for the year	105
Disposals	(201)
At 31 December 2020	916
Carrying amount
At 31December 2020
At 31December 2019

12. Tangible fixed	assets
	Leasehold Improvements	Assets in course of construction	Motor vehicles	Equipment	Computer systems	Total
Group		$000	$000	$000	$000	$000
Cost
At IJanuary 2020	27,957	8,672		24,669	3,054	64,354
Additions Transfer ofassets	1,831	525		2,285	223	4,865
completed in year	7,007	(7,007)
Disposals	(7,723)	(2006)		(4,632)		(14,361)
At 31December 2020	29,072			22222,
Depreciation
At 1January 2020	12,764		I	16,100	2,237	31,102
Chnge for. the year Disposals	2,641 (3,039)		I	3,547 (2,770)	480	6,667 (5,809)
At 31December 2020			2	~8	2212	~t
Nct book value
At 31 December 2020
At 31December 2019

t book va	lue ofas	sets held under finance leases or hne pu	rchase contracts, included above, are a	s follows:
			2020	2019
Group			$000	$000
Land and	buildings		1&128	1,225
Furniture,	httings	and equipment	1&940	2,497

	Leasehold improvements	Assets in course of construction	Motor vehicles	Equipment	Computer systems	Total
Company	$000	$000	$000	$000	$000	3f000
Coat
At 1 January 2020	27,817	8,672		24,395	3,054	Ci3,940
Additions	1,831	525		2,059	223	4,638
'fransfer ofassets
completed in year	7,007	(7,0071
Disposals	(7,723)	(2,006)		(4,Ci32)		(14,361)
At 31 December 2020				~122
Depreciation
At 1January 2020	12,722		1	16,079	2,239	31,041
Charge For. die year. Disposals	2,553 (3,039)		1	3,457 (2,770)	480	6,491 -5,809
At 31 December 2020	12236		2	16766	2719	31721
Net book value
At 31 December 2020
At 31 December 2019

		2020	201&)
Company		$000	&6000
Land and	buildings	1&128	1&225
Furtuture,	fittings and equipment	1661	2~

Investments	ln subsidiaries
		Shares ln
		g oup
		undertakings
Company		$000
Cost
At 1January	2020	788
Imps'ument		(59)
At 31 December 2020		729

Prlnclpel		subsidiary
					Percentage		(Loss)		Net Assets
Company		name		Country	Shareholding	Description	2020		2020
							$000		$000
VitginActiveManagetuent			Linuted	England	1002&	Spons and leisure
liegistered		number: 02353684				facilitics		nil	nil
Active Life				England	100%	Sports and leisure
Registered		number: 04376721				facilities	(383)		370
Debtors
					Grou		Com	an
					2020	2019	2020		2019
					$000	$000	$000		F000
Trade debtors					965	662	965		662
Amounts	owed by group		undertakings				373		61
Other debtors					408	1,053	408		1026
Prepayments		and accrued	income		1,784	1,825	1,784		1,825
					3&157	3,540	3530		3,574
					36

			Grou		Com
			2020	2019	2020	2019
			$000	g;000	$000	$000
Other loans			1&065	1,395	1,015	1,345
Net obligations	under	Rnance leases and
hire purchase	contracts		1&007	1,196	952	1,135
Trade creditors			2&640	2,576	2&640	2,540
Amounts owed	to group undertakings					653
Other taxation	and social security		1)487	490	1&378
Other creditors			58	629	55	542
			6&257	6,286	6,040	6,657

Creditors: A	m	ounts falling due after mor	e than one year
			Grou		Com	an
			2020	2019	2020		2019
			$000	$000	$000		$000
Other loans			19,774	10,126	19,761		10,076
Net obligations		under gnance leases and
hire purchase	contracts		1&121	1,365	1)074		1,284
			20&895	11,491	20,835		11,360

Other loa	ns ate repayable as follo	ws;
		Grou		Com	an
		2020	2019	2020		2019
		$000	$000	$000		$000
Less than	1 year	1&065	1,395	1,015		1,345
2 to 5 years		14,750	3,394	14&737		3,344
Over 5 years		5&024	6,732	5)024		6,732
Total		20&839	11521	20&776		11,421

		Grou		Com
		2020	2019	2020	2019
		$000	$000	$000	&F000
Less than	1 year	1&007	1,196	952	1,135
2 to 5 years		1&121	1,365	1,074	1,284
Over 5 years
Total		2,128	2,561	2,026	2,419

		Grou		Com
		2020	2019	2020	2019
		$000	$000	$000	$000
Accmals		7&973	5,974	7,973	5,974
Deferred	income	358	421	358	421
		8 331	6,395	8331	6,395

. Stateme	nt o	f Funds
Group			Brought	Income	Expense	Gains/	Carded
			Forward			(Losses)	Forward
			&F000		/„'000	$000	$000
Unrestricted	funds
General Funds		- all	14,890	35,444	(53,499)		(3&165)
Pension reserve			(475)		(89)	(141)	(705)
Restdcted ftmds			38	13,251	(13,289)
			14,453	48,695	66,87	141	3,870
Company			Brought	Income	Expense	Gains/	Carried
			Fonvard			(Losses)	Forward
			$000		/„'000	$000	$000
Unrestricted	funds
General Funds		- all	14,759	33,165	(50,875)		(2&952)
Pension rcscrvc			(475)		(89)	(141)	(705)
Restricted	funds			12,125	(12,125)
			14,284	45,290	63089	141	3&65

Reconciliation of n	et	move	ment in funds t	o net cash flow fro	m operating activities
					2020	2019
					$000	$000
Net incoming resources before			other recognised	gains/losses	(18&323)	1,390
Actuaual adjustments	in relation to degned benefit scheme				230	148
Intcrcst received					(2)	(4)
Interest paid					1&215	347
Amottisation ofintangible		fixed assets			195	193
Depreciation oftangible		fixed	assets		6,667	6,714
Disposal ofassets					5&557	(2,113)
Active Life giFt						(729)
Decrease in stocks					184	5
Decrease in debtors					383	226
Increase in creditors					2&428	2,922
Net cash used in operating			activities		1&466	3,255

			2020	2019
			$000	ir000
Cash	in	hand	5&674	1,317
Total			5 674	1,317

Analysis ofchanges ln	net debt
	31.12.2019	Cash Flows	Non-Cash	Changes	31.12.2020
			New	Other
			Finance	Non-Cash
			Leases	Changes
Cash in hand Debt due lvtthin onc year Debt due greater than one year.	1,317 (2,591) (11,491) ,7 3	4,358 732 (9,069) ~3,979	(213) (425) ~6		5,675 (2,072) (20,985)

Total future miiumum lease payments under non-cance	llable leases.
	2020	2019
	$000	/'000
Expiring:
within 1 year	192	192
benveen one and five years	804	797
in more than 5 years	13,342	13,571
Torsi	14&338	14,530

The amounts recognised	in the Balance sheet are as follows:
		2020	2019
		$000	$000
Present value offunded	obligations	6,114	5,431
Fair value ofscheme assets		5255	4,895
Deficit in schemes		(859)	(536)
Surplus not recognised	in Viqyn Active Management	69	162
		(928)	(698)
Indemnity		223	223
Net liabilitl		705	475

The amounts re	cognised in the Statement of financial activit	ies are as Follows;
		2020	2019
		$000	$000
Sendce cost		(33)	(90)
Interest on obhgation		(14)	(14)
Administrauon	expenses	(42)	(44)
Fxpected return Total	on scheme assets	(89)	(148)

lvlovements in the present value ofthe defined benefit obligation were	as Follows:
	2020	2019
	$000	$000
Opening defined benefit obligation	5&431	4,671
Interest cost	113	133
Contributions by scheme participants	5	8
Actuarial losses	1&132	879
Benefits paid	(163)	(48)
Past Service Costs
Experience Gain on defined benefit contribution	(437)	0
Cunent service cost	33	46
Change in demographic assumptions		(302)
Closing defined benefit obligation
Changes in the fair value ofscheme assets were as follows:
	2020	2019
	$000	$000
Opening Fair value oFscheme assets	4,895	4&266
Expected return on assets	19
Contributions by employer	90	114
Conuibutions by scheme participants	5	8
Admin expenses	(49)	(43)
Interest costs	80	97
Rerum on assets	362	479
Benefits pmd	(163)	(48)
Other actuarial gains / (tosses)	16	0

The major ca	tegories ofscheme assets as a percentag	e oftorsi scheme assets are as follows:
		2020	2019
Fx)uities		60.1%	66.9%
Property		8,1%	11.5%
Government	bonds	0.5%	0.7%
Cash and other assets		104%	11.5%
Other bonds		20.9'/o	9.5%
		100.0%	100.0%

Principal	actuaria	l assumptio	ns at the Balance sheet date (expressed	as weighted avenges):
				2020	2019
Discount	rate at	31December		1.33'/s	2.05%
Expected	return	on scheme	assets at 31December	1.33%	2.05%
Future salary tncreases				325%	3.45%
Future pension		increases		2.73%	2.65%
Inflanon	(CP))			2.35%	2.10%
Assumed	life expectations		from age 65 are;	2020
				years	yeats
Retiring	today.		Ivtates	21.9	23.1
			Females	24.0	25.2
Retiring	in 20 years:		Males	23.3	25.4
			Females	25.5	27.6

		2020	2019	2018	2017	2016
		$000	g;000	/'000	$000	/'000
Defined benefit obhgation		(6&114)	(5,431)	(4,671)	(5,269)	(5,641)
Schenie assets		5,255	4,895	4,266	4,395	4,009
Surplus not recngnised	in
Virgin Active Management		(69)	(162)	(116)	(78)
Deficit Experience adjustments	on	(928)	(698)	(521)	(952)	(1,632)
scheme liabilities Experience adjustments	on	(437)			(688)
scheme assets