## ||||Page| |---|---|---|---| |Reference Information|||3to 5| |Report ofthe|Trustees||6to 15| |Strategic Report|||16to 20| |Report ofthe|Independent|Auditors|21to 23| |Consolidated|Statement of|Financial Activities|24| |Consolidated|Statement of|Financial Position|25to 26| |Charity Statement of Financial Position|||27to28| |Consolidated|Statement of|Cash Flows|29| |Notes to the|Financial Statements||30to51| ## ## ## ## ## ## ## |~Rtd
7
for the Year Ended 31March 2023|~Rtd
7
for the Year Ended 31March 2023| |---|---| |REFERENCE AND ADMINISTRATIVE
DETAIL5|| |Trustees (Continued)|| |Name|Biography| |Chris Clarke|Chris is an experienced
Marketing
Manager
and is based
in South Gloucestershire
and| ||is an avid runner,
cyclist and swimmer
having completed
a series ofsponsored
events.| ||Chris uses Circadian facilities to train for his events.| |James Iles|James is a HR Director within the Telecoms sector majoring
in Learning &Development| ||with a strong focus on Customer
Experience and Sales. Having seen his children benefit| ||through
active participation
in sport (and learning
to swim
via the Trusts
swimming| ||school) James is keen to support the Trust's Social Value charitable
aims and objectives| ||within
the local community.
He is a regular
user of Circadian
Trust's
Longwell
Green| ||facilities,| |Nalin Parmar|Chartered
engineer
and
qualified
accountant
with
extensive
experience
in railway| ||infrastructure
asset management
and the industry
regulatory
madel,
gained
in British| ||Railways
(1979 and
2010) and
self-
employed
consultancy
(from
2010 to date)| ||combining
engineering,
finance, economic regulation
and funding.
Business Advisor to| ||Group Finance Director of Network
Rail (2005to 2010).Trustee member to Sirona Care| ||and Health Group C,I.Cand Treasurer Director ofBristol and Gloucester Gliding Club Ltd.| ||Educated
at
Imperial
College
with
interests
in
power
flying,
gliding,
badminton,| ||swimming
and reading.| |Valerle Lee|Valerie brings extensive
commercial
experience
from a career in a variety offunctions| ||in leading
UK retail and consumer
companies.
Valerie studied
Economics at Warwick| ||University
and holds
a Post Graduate
Diploma.
Valerie has a deep understanding
of| ||consumer
marketing,
as well
as
experience
in
strategic
development,
business| ||transformation
and property
management.
In addition to her role as Chair at Circadian| ||Trust she works with a number
ofother organisations
that strive to improve the health| ||and well-being oflocal communities
across the South West.| |Stacey Mead|Stacey is a Chartered
Fellow ofthe CIPD and a Director of HR Dept. Bristol and HR Dept.| ||Group Trust. Stacey has over 20years ofexperience
ln HR which spans a range ofsectors| ||inrjuding
public,
private
and charitable,
working
with organisations
of all shapes
and| ||sizes.| |Andrew
Parks|Andrew
is Head
of Global
Consulting
at Mayo
Clinic and
prior to this worked
as a| ||management
consultant
In
a
range
of sectors.
He
has
BSc in
Economics
and| ||International
Politics and an MBA from Warwick Business School. Andrew
lives locally| ||and Is a keen Triathlete
using Circadian facilities at Yate and Bradley Stoke.| |Suzanna
Hinnell|Suzanna
works for a consultancy
managing
commercial
improvement
programmes.| ||With two young
children
who enjoy a range of sports, her family are regular centre| |(Resigned 19.5.22)|users.| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Total
Profit|I|Surplus|Surplus|(Balanced|(Balanced|E73,000|E326,000| |---|---|---|---|---|---|---|---| |Scorecard)|||||||| |Total
Physical|Activity||Visits||(Moving|1,873,293|2,079,799| |Communities)|||||||| |Social
Value||Score|E's||(Moving|210,698,000|E13,992,000| |Communities)|||||||| |Average
Quest||Assessment|||Score|Very Good|Very Good| |(Moving Communities|||||||| |Net
Promoter||Score||(Balanced||42|42| |Scorecard)|||||||| |BECCertification||(Balanced||Scorecard)||B|| ## |Health and|Fitness (Gym)|459,023| |---|---|---| |Swimming|Lessons|401,693| |Group Exercise Classes||131,304| |Swimming|Activities|400,876| |Sports Hall|Hire|68,507| |Other Activities (Inc. Commercial)||411,890| |||1,873,293| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||31.3.23|31.3.22| |---|---|---|---|---|---|---|---| ||||Unrestricted|Pension|Restricted|Totalfunds|Total funds| ||||funds|reserve|funds||| |||Notes|E|E|f|E|E| |INCOME AND|||||||| |ENDOWMENTS
FROIVI|||||||| |Donations
and grants||2|||||298,442| |Charitable
activities||4|||||| |Leisure activities|||10,842,079|||10~842~079|9009442| |Generated
Funds|||||||| |Commercial
Trading|||1,142,393|||1,142,393|840,176| |Investment
income||3|13,320|||13,320|16| |Total|||11,997,792|||11,997,792|10,148,076| |EXPENDITURE ON|||||||| |Generated
Funds||12|||||| |Commercial
Trading|||440,143|||440,143|347,271| |Charitable
activities|||||||| |Leisure activities|||11,166,566|264,000|64,498|11,495,064|10,094,103| |Total|||11,606,709|264,000|64,498|11,935,207|10,441,374| |NET|||||||| |INCOME/(EXPENDITURE)|||391,083|(264,000)|(64,498)|62,585|(293,298)| |Transfers between funds||18|||||| |Other recognised|||||||| |gains/(losses)|||||||| |Actuarial
gains/lasses|on||||||| |defined benefit schemes||||6,014,000||6,014,000|1,556,000| |Net movement
in funds|||391,083|5,750,000|(64,498)|6,076,585|1,262,702| |RECONCILIATION
OF|FUNDS||||||| |Total funds brought|forward||1,553,768|(6,239,000)|323,90?|(4,361,325)|(5,624,027)| |TOTAL FUNDS CARRIED|||||||| |FORWARD|||1,944,851|(489,000)|259,409|1,715,260|(4,361,325)| ## |039u0
32023||||||| |---|---|---|---|---|---|---| ||||||31.3.23|31.3.22| |||Unrestricted|Pension|Restricted|Total funds|Total funds| |||funds|reserve|funds||| ||Notes|f|f|f|f|f| |FIXEDASSETS||||||| |Intangible
assets|13|74,567|||74,567|| |Tangible assets|13a|1,366,028||259,409|1,625,437|1,789,604| |||1,440,595||259,409|1,700,004|1,789,604| |CURRENT ASSETS||||||| |Stocks||113,965|||113,965|80,228| |Debtors|15|407,547|||407,547|428,896| |Cash in hand||3,152,238|||3,152,238|2,302,375| |||3,673,750|||3,673,750|2,811,499| |CREDITORS||||||| |Amounts
falling due within||||||| |one year|16|(2,059,494)|||(2,059,494)|(1,393,428)| |NET CURRENT ASSETS||1,614,256|||1,614,256|1,418,071| |TOTAL ASSETS LESS||||||| |CURRENT LIABILmES||3,054,851||259,409|3,314,260|3,207,675| |CREDITORS||||||| |Amounts
failing due after||||||| |more than one year|16|(1,110,000)|||(1,110,000)|(1,330,000)| |PENSION LIABILITY|19||(489,000)||(489,000)|(6,239,000)| |NET ASSETS/(LIABILmES)||1.944.1151|[439.000)|2 9,409|.715,260|~4.361.325)| |FUNDS|18|||||| |Unrestricted
funds:||||||| |General fund|||||11944,851|1,553,768| |Pension reserve|||||(489,000)|(6,239,000)| ||||||1,455,851|(4,685,232)| |Restricted funds|||||259,409|323,907| |TOTALFUNDS|||||1,715,260|(4,361,325)| ## ## ## |3~1M
3 2023||||||| |---|---|---|---|---|---|---| ||||||31.3.23|31.3.22| |||Unrestricted|Pension|Restricted|Total|Total| |||funds|reserve|funds|funds|funds| ||Notes|f|f|f|f|f| |FIXEDASSETS||||||| |Intangible
assets|11|74,567|||74,567|| |Tangible assets|12|1,334,528||259,409|1,593,937|1,745,753| |Investments|13|1|||1|1| |||1,409,096||259,409|1,668,505|1,745,754| |CURRENT ASSETS||||||| |Stocks|14|80,394|||80,394|53,322| |Debtors|15|595,775|||595,775|656,510| |Cash in hand||2,958,614|||2,958,614|2,048,808| |||3,634,783|||3,634,783|2,758,640| |CREDITORS||||||| |Amounts
falling due within||||||| |one year|16|(2,005,521)|||(2,005,521)|(1,319,212)| |NET CURRENT ASSETS||1,629,262|||1,629,262|1,439,428| |TOTAL ASSETS LESS||||||| |CURRENT UABILITIES||3,038,358||259,409|3,297,767|3,185,182| |CREDITORS||||||| |Amounts
falling due after||||||| |more than one year|17|(1,110,000)|||(1,110,000)|(1,330,000)| |PENSION UABILITY|19||(489,000)||(489,000)|(6,239,000)| |NET ASSETS/(LIA8 ILm ES)||1,928,358|(489,000)|259,409|1,698,767|(4,383,818)| ## ## |Statement ofCash Flows||||||| |---|---|---|---|---|---|---| |for the Y ar E ded 31March 2023||||||| ||||||31.3.23|31.3.22| |||||Notes|f|6| |Cash flows from operating|activities:|||||| |Cash generated
from operations||||21|1,273,975|1,433,443| |Net cash provided
by operating
activities||||||| ||||||1,273,975|1,433,443| |Cash flows from investing|activities:|||||| |Purchase of intangible
and|tangible fixed||||(437,432)|(165,664)| |assets||||||| |Sale of intangible
and tangible fixed assets||||||1,600| |Interest received|||||13,320|15| |Net cash used in investing|activities|||||| ||||||~424,112)|(164,049| |Change
in cash and cash equivalents||in the||||| |reporting
period|||||849,863|1,269,394| |Cash and cash equivalents|at the beginning||of|||| |the reporting
period|||||2,302,375|1,032,981| |Cash and cash equivalents|at the end|ofthe||||| |reporting
period|||||3,152,238|2,302,375| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |DONATIONS AND LEGACIES||| |---|---|---| ||31.3.23|31.3.22| ||E|E| |Donations||3,533| |Grants||294,909| |||298,442| ||||||31.3.23|31.3.22| |---|---|---|---|---|---|---| ||||||E|6| ||South Gloucestershire||Council|||93,423| ||Government|Grants re|Covid|19||201,486| |||||||294,909| |3.|INVESTMENT|INCOME||||| ||||||31.3.23|31.3.22| ||||||f|E| ||Deposit account interest||||13,320|16| ||||||13,320|16| |4.|INCOME FROIyl CHARITABLE ACTIVITIES|||||| ||||||31.3.23|31.3.22| |||||Activity|E|E| ||Leisure income|||Leisure activities|10,842,079|9,009,442| ## ## |||||Suppom|| |---|---|---|---|---|---| ||||Direct costs|costs|Totals| |||||(Seenote 6)|| ||||E|E|f| |Leisure|activities|—31.03.22|6,894,808|3,199,295|10,094,103| |Leisure|activities|-31.03.23|7,706,103|3,788,961|11,495,064| ## |||||Information|Central|Governance|| |---|---|---|---|---|---|---|---| ||||Management|technology|Support|costs|Totals| ||||||Costs||| |||||E|f|E|E| |Leisure|activities|-2022|1,170,041|1,301,623|566,631|161,000|3,199,295| |Leisure|activities|—2023|1,312,317|1,691,954|615,690|169,000|3,788,961| ## ## |Net income/(e|xpenditure)
isstated after charging/(cre|diting):|| |---|---|---|---| |||31.3.23|31.3.22| |||E|f| |Auditors'
remuneration||14,500|12,000| |Depreciation|and amortisation|523,393|432,103| |Rental costs||370,000|370,000| ## ## ## ## |||31.3.23|312.22| |---|---|---|---| |||f|f| |Wages|and salaries|5,105,629|4,110,098| |Social|security costs|286,163|235,027| |Other|pension costs|489,688|793,849| |||5,881,480|5,138,974| |The aver|age monthly
number
ofemployees
during t|he year was as follows:|| |---|---|---|---| |||31.3.23|31.3.22| |Number|ofleisure staff|158|138| |Number|ofmarketing
staff|1|1| |Number|ofsupport staff|39|34| |||198|| ## ## |10.
COMPARATIVES|10.
COMPARATIVES|10.
COMPARATIVES|FOR|THE|STATEMENT OF|FINANCIAL ACTIVITIES|FINANCIAL ACTIVITIES||| |---|---|---|---|---|---|---|---|---|---| |||||||||31.3.22|31.3.21| ||||||Unrestricted|Pension|Restricted|Total funds|Total funds| ||||||funds|reserve|funds||| ||||Notes||E|E|f|E|| |INCOME AND|||||||||| |ENDOWMENTS
FROM|||||||||| |Donations
and grants||||2|96,956||201,486|298,442|3,399,795| |Charitable
activities||||4|||||| |Leisure activities|||||9,009,442|||9,009,442|2,200,165| |Generated
Funds|||||||||| |CommercialTrading|||||840,176|||840,176|141,117| |Investment
income||||3|16|||16|190| |Total|||||9,946,590||201,486|10,148,076|5,741,267| |EXPENDITURE ON|||||||||| |Generated
Funds||||12|||||| |Commercial
Trading|||||347,271|||347,271|87,774| |Charitable
activities|||||||||| |Leisure activities|||||9,547,119|281,000|265,984|10,094,103|8,064,728| |Total|||||9,894,390|281,000|265,984|10,441,374|8,152,502| |NET|||||||||| |INCOME/(EXPENDITURE)|||||52,200|(281,000)|(64,498)|(293,298)|(2,411,235)| |Transfers between|funds|||18|||||| |Other recognised|||||||||| |gains/(losses)|||||||||| |Actuarial
gains/losses||on|||||||| |defined benefit schemes||||||1,556,000||1,556,000|(1,125,000)| |Net movement
in funds|||||52,200|1,275,000|(64,498)|1,262,702|(3,536,235)| |RECONCILIATION
OF||FUNDS|||||||| |Total funds brought|forward||||1,501,568|(7,514,000)|388,405|(5,624,027)|(2,087,792)| |TOTAL FUNDS CARRIED|||||||||| |FORWARD|||||1,553,768|(6,239,000)|323,907|(4,361,325)|(5,624,027)| ## ## ## |||||31.3.23|31.3.22| |---|---|---|---|---|---| |||||Total funds|Total funds| |||||E|E| |INCOME||||11,382,047|9,545,554| |investment
income from subsidiary|||company|181,602|256,296| |Total||||11,563,649|9,801,850| |EXPENDITURE||||11,495,064|10,094,103| |NET INCOME/(EXPENDITURE)||||68,585|(292,253)| |Other recognised gains/(losses)|||||| |Actuarial gains/losses||on defined benefit|||| |schemes||||6,014,000|1,556,000| |Net Movement|in funds|||6,082,585|1,263,747| |Total funds brought||forward||(4,383,818)|(5,647,565)| |TOTAL FUNDS|CARRIED||||| |FORWARD||||1,698,767|(4,383,818)| ## ## |The wholly
owned trading|subsidiary|Sphere|Leisure|Limited|is incorporated|in the|United|Kingdom
(company|Kingdom
(company| |---|---|---|---|---|---|---|---|---|---| |number 05449293) and pays profits||up to its|taxable|threshold|to the charity|through|dividends.||Sphere Leisure| |Limited operates the cafes|and all other commercial|||trading operations
on behalf ofthe Trust. A|||||summary
ofthe| |trading
results
is shown below.|||||||||| |The summary
financial performance||ofthe subsidiary||alone is:|||||| ||||||31.3.23||||31.3.22| ||||||f||||f| |TURNOVER|||||1,142,393||||840,176| |Cost ofsales|||||(608,866)||||(418,242)| |Administrative
expenses
Interest receivable
and similar income|||||(359219)
~12||||(166,699)
14| |PROFIT ON ORDINARY ACTIVITIES BEFORETAXATION|||||175,602||||255,249| |PROFIT FOR THE FINANCIAL YEAR|||||175,602||||255,249| ||||||31.3.23||||31.3.22| ||||||f||||| |FIXEDASSEFS|||||31,500||||43,851| |CURRENT ASSETS|||||260,356||||319,887| |CURRENT LIABILITIES|||||~275 362||||~341244| |TOTAL NET ASSETS|||||16,494||||22,494| |CAPITAL AND RESERVES|||||||||| |Called up share capital|||||1||||1| |Retained earnings|||||16,493||||22,493| |SHAREHOLDERS'
FUNDS|||||16,494||||22,494| ## ## ## |||||Called|up||| |---|---|---|---|---|---|---|---| |||||share||Retained|Total| |||||capital
f||earnings
E|equity
f| ||Balance at 1April 2021|||||23,538|23,359| ||Total comprehensive|Income||||255,249|255,249| ||Dividends|||||(256,294)|(256,294)| ||Balance at 31March|2022|||1|22,493|22,494| ||Total comprehensive|income||||175,602|175,602| ||Dividends|||||(181,602)|(181,602)| ||Balance at31March|2023|||1|16,493|16,494| |13.|INTANGIBLE FIXED ASSETS||||||| |Group|and Charity||||||| ||||||||Computer| ||||||||software| ||||||||f| ||COST||||||| ||At 1April 2022||||||64,498| ||Additions||||||113,305| ||Reclassification/transfer||||||50,337| ||At 31March 2023||||||228,140| ||AMORTISATION||||||| ||At 1April 2022||||||64,498| ||Charge for year||||||38,738| ||Reclassiflcation/transfer||||||50,337| ||At 31March 2023||||||153,573| ||NET BOOK VALUE||||||| ||At 31March 2023||||||74,567| ||At 31March 2022||||||| ||||39||||| ## ## |to the Fi ancial Statements
-con
Year Ende
31March 2023
TANGIBLE FIXED ASSETS
I) Group|tinue|||| |---|---|---|---|---| ||Improvements|Fixtures and|Computer|| ||to property|fittings|equipment|Totals| |||E|E|E| |COST||||| |At 1April 2022|1,848,027|3,448,169|436,958|5,733,154| |Reclassification|267,806|(268,348)|(49,795)|(50,337)| |Additions|55,878|209,380|59,969|325,227| |Disposals|(25,535)|(121,783)|(225,310)|(372,628)| |At 31March 2023|2,146,176|3,267,418|221,822|5,635,416| |DEPRECIATION||||| |At 1April 2022|1,435,958|2,084,110|423,482|3,943,550| |Reclassification|(138,486)|139,353|(51,204)|(50,337)| |Charge for year|294,747|164,898|26,110|485,755| |Eliminated
on disposal|(25,535)|(118,144)|(225,310)|(368,989)| |At 31March 2023|1,566,684|2,270,217|173,078|4,009,979| |NET BOOK VALUE||||| |At 31March 2023|979,492|997,201|48,744|1,625,437| |At 31March 2022|412,069|1,364,059|13,476|1,789,604| ## |13a.|TANGIBLE FIXED ASSETS (Cont.)
ii) Charity||||| |---|---|---|---|---|---| |||Improvements|Fixtures and|Computer|| |||to property
f|fittings
f|equipment
E|Totals
f| ||COST||||| ||At 1April 2022|1,848,027|3,099,639|436,958|5,384,624| ||Additions|55,878|199,860|59,969|315,707| ||Disposals|(25,535)|(94,098)|(225,310)|(344,943)| ||Reclassification|267,806|(268,348)|(49,795)|(50,337)| ||At 31March 2023|2,146,176|2,937,053|221,822|5,305,051| ||DEPRECIATION||||| ||At 1April 2022|1,435,958|1,779,431|423,482|3,638,871| ||Charge for year|294,747|143,027|26,110|463,884| ||Eliminated
on disposal|(25,535)|(90,459)|(225,310)|(341,304)| ||Reclassification|(138,486)|139,353|(51,204)|(50,337)| ||At 31March 2023|1,566,684|1,971,352|173,078|3,711,114| ||NET BOOK VALUE||||| ||At 31March 2023|579,492|965,701|48,744|1,593,937| ||At 31March 2022|412,069|1,320,208|13,476|1,745,753| |14.|FIXEDASSETINVESTMENTS||||| ||Charity||||Shares in| ||||||gr'oup| ||||||undertakings| ||MARKET VALUE||||f| ||At 1April 2022 and 31March 2023||||1| ||NET BOOK VALUE||||| ||At31March 2023||||| ||At 31March 2022||||| ## ## ||||||Group|Group|Charity|Charity| |---|---|---|---|---|---|---|---|---| |||||31.3.23||31.3.22|31.3.23|31.3.22| |||||f||E|E|f| |Trade debtors||||68,944||71,301|35,783|33,962| |Amounts
owed by subsidiary|||undertaking||||221,389|267,028| |Other Debtors||||||2,075||| |Prepayments||||338,603||355,520|338,603|355,520| |||||407,547||428,896|595,775|656,510| |CREDITORS: AMOUNTS||FALUNG DUE WITHIN ONE YEAR||||||| ||||||Group||Charity|| |||||31.3.23||31.3,22|31.3.23|31,3.22| |||||E||6|E|E| |Trade creditors||||308,835||183,659|287,793|163,195| |Social security and other taxes||||107,900||83,542|106,919|83,542| |Other creditors||||69,679||91,649|37,729|37,897| |Accruals and deferred|income|||1,573,080||1,034,578|1,573,080|1,034,578| |||||2,059,494||1,393,428|2,005,521|1,319,212| |CREDITORS: AMOUNTS||FALUNG DUE GREATER THAN|||ONE|YEAR||| |Group and Charity|||||||31.3.23|31.3.22| ||||||||f|E| |Accruals and deferred||income|||||1,110,000|1,330,000| ## ## ## ## ||Group and Charity|Group and Charity|Group and Charity|||31.3.23|31.3.22| |---|---|---|---|---|---|---|---| |||||||f|f| ||Within one year|||||380,006|526,239| ||Between one|and five years||||606,386|906,391| ||In more than|five years||||1724712|252,932| |||||||1.159,104|1,665,562| |18.|MOVEMENT|IN|FUNDS||||| ||Group||||Net|Transfers|| ||||||movement
in|between|| |||||At 1.4.22|funds|funds|At 31.3.23| |||||f|f|f|f| ||Unrestricted|funds|||||| ||General fund|||1,553,768|391,083||1,944,851| ||Pension reserve|||(6,239,000)|5,750,000||(489,000)| |||||(4,685,232)|6,141,083||1,455,851| ||Restricted funds||||||| ||ESCGrant|||323,907|(64,498)||259,409| ||TOTAL FUNDS|||(4,361,325)|6,076,585|—|1,715,260| ||Net movement||in funds, included|in the above are as follows:|||| |||||Incoming|Resources|Gains and|Movement| |||||resources
f|expended
f|losses
f|in funds
f| ||Unrestricted|funds|||||| ||General fund|||11,997,792|(11,606,709)||391,083| ||Pension reserve||||~264 000)|6,014,000|5,750,000| |||||111997,792|(11,870,709)|6,014,000|6,141,083| ||Restricted funds||||||| ||ESCGrant||||(64,498)||(64,498)| ||TOTALFUNDS|||11,997,792|(11,935,207)|6,014,000|6,076,585| |||||43|||| ## ## ## ## |Charity||||||| |---|---|---|---|---|---|---| ||||||Net|| ||||||movement|At| |||||At 1.4.22|in funds|31.3.23| |||||E||E| |Unrestricted|funds|||||| |General fund||||1,531,275|397,083|1,928,358| |Pension reserve||||(6,239,000)|5,750,000|(489,000)| |||||(4,707,725)|6,147,083|1,439,358| |Restricted funds||||||| |ESCGrant||||323,907|(64,498)|259,409| |TOTAL FUNDS||||||| |Net movement||in funds, included|in the above are as follows:|||| ||||Incoming|Resources|Gains and|Movement| ||||resources
E|expended
E|losses
f|in funds
f| |Unrestricted|funds|||||| |General fund|||11,563,649|(11,166,566)||397,083| |Pension reserve||||(264,000)|6,014,000|5,750,000| ||||11,563,649|(11,430,566)|6,014,000|6,147,083| |Restricted funds||||||| |ESCGrant||||(64,498)||(64,498)| |TOTAL FUNDS|||11,563,649|(11,495,064)|6,014,000|6,082,585| ## ## |for th|Y ar E ded|31March 2|023||||| |---|---|---|---|---|---|---|---| |18.|IVlOVEMENT|IN FUNDS|(Cont.)||||| ||Comparative|movement|in Funds||||| ||Group||||Net|Transfers|| ||||||movement
in|between|| |||||At 1.4.21|funds|funds|At 31.3.22| |||||E|E||f| ||Unrestricted|funds|||||| ||General fund|||1,501,568|52,200||1,553,768| ||Pension reserve|||(7,514,000)|1,275,000||(6,239,000)| |||||(6,012,432)|1,327,200||(4,685,232)| ||Restricted funds||||||| ||ESCGrant|||388,405|(64,498)||323,907| ||TOTAL FUNDS|||(5,624,027)|1,262,702||(4,361,325)| |||Incoming|Resources|Gains and|Movement| |---|---|---|---|---|---| |||resources|expended|losses|in funds| |||E|E|E|E| |Unrestricted|funds||||| |General fund||9,946,589|(9,894,389)||52,200| |Pension reserve|||(281,000)|1,556,000|1,275,000| |||9,946,589|(10,175,389)|1,556,000|1,327,200| |Restricted funds|||||| |ESCGrant|||(64,498)||(64,498)| |Government|Covid Job Retention||||| |Scheme||201,486|(201,486)||| |||201,486|(265,984)||(64,498)| |TOTAL FUNDS||10,148,075|(10,441,373)|1,556,000|1,262,702| ## ## ## |Comparative
Charity|mo|
vement
In Funds||||| |---|---|---|---|---|---|---| ||||||Net|| ||||||movement|At| |||||At 1.4.21|in funds|31.3.22| |||||E|f|E| |Unrestricted|funds|||||| |General fund||||1,478,030|53,245|1,531,275| |Pension reserve||||J7,614,000)|1,275,000|(6,239,000)| |||||(6,035,970)|1,328,245|(4,707,725)| |Restricted funds||||||| |ESCGrant||||388,405|(64,498)|323,907| |TOTALFUNDS||||(5,647,565)|1,263,747|(4,383,818)| |Net movement||in funds, included|in the above are as follows:|||| ||||Incoming|Resources|Gains and|Movement| ||||resources
f|expended
E|losses
E|in funds
E| |Unrestricted|funds|||||| |General fund|||9,600,363|(9,547,119)||53,245| |Pension reserve||||~281,000)|1,556,000|1,275,000| ||||9,600,363|(9,828,119)|1,556,000|1,328,245| |Restricted funds||||||| |ESCGrant||||(64,498)||(64,498)| |Government|Covid Job Retention|||||| |Scheme|||201,486|(201,486)||| ||||201,486|(265,984)||~64,498)| |TOTAL FUNDS|||9,801,849|(10,094,103)|1,556,000|1,263,747| ## ## |||Defined benefit pension|Defined benefit pension| |---|---|---|---| |||plans|| |||31.3.23|31.3.22| |||f|6| |Present value offunded|obligations|(13,111,000)|(20,206,000)| |Fair value of plan assets||12,622,000|13,967,000| |LiabiTity||(489,000) ~6,2390M)|| ## ## ## |The amounts|recognised
in t|he statement
offinancial a|ctivities are as follows|| |---|---|---|---|---| ||||Defined|benefit| ||||pension|plans| ||||31.3.23|31.3.22| ||||6|f| |Current service cost|||421,000|450,000| |Net interest|from net defined|benefit||| |asset/liability|||169,000|161,000| |Past service|cost|||| |Gains/losses|on settlements|and||| |curtailments||||12,000| |Admin
Expenses|||7,000|7,000| ||||597,000|630,000| |Actua
I return|on plan assets||(1,035,000)|(1,255,000)| ||||||||Defined|benefit| |---|---|---|---|---|---|---|---|---| ||||||||pension|plans| ||||||||31.3.23|31.3.22| ||||||||E|f| |Opening|defined||benefit||obligation||20,206,000|19,974,000| |Current|service cost||||||421,000|450,000| |Contributions||by|scheme||participants||74,000|77,000| |Interest|cost||||||563,000|438,000| |Actuarial|losses/(gains)||||||(9,615,000)|(621,000)| |Benefits|paid||||||(185,000)|(168,000)| |Curtaifments||||||||12,000| |Actuarial|(gains)/losses|||from changes||in||| |financial|assumptions||||||1,647,000|44,000| ||||||||13,111,000|20,206,000| ## ## ## |||Defined|benefit| |---|---|---|---| |||pension|plans| |||31.3.23|31.3.22| |||f|E| |Opening fair value ofscheme assets||13,967,000|12,460,000| |Interest on plan assets||394,000|277,000| |Contributions|by employer|333,000|3il9,000| |Contributions|by scheme participants|74,000|77,000| |Administration|Expenses|(7,000)|(7,000)| |BeneBts paid||(185,000)|(168,000)| |Return on plan assets (excluding|||| |interest income)||(1,954,000)|979,000| |||12422,0M|13.967,000| |||||Defined|beneRt| |---|---|---|---|---|---| |||||pension|plans| |||||31.3.23|31.3.22| |||||f|f| |Actuarial|(gains)/losses|from changes|in||| |financial|assumptions|||(1,647,000)|(44,000)| |Return on plan assets||(excluding|||| |Interest|income)|||(1,954,000)|979,000| |Actuarial|gains/(losses)|||9,615,000|621,000| |||||6,014,000|1,556,000| ## ## ## ||Deflned|benefit| |---|---|---| ||pension|plans| ||31.3.23|31.3.22| ||E|E| |Equities|4,405,000|5,656,000| |Bonds - Government|2,423,000|1,732,000| |Bonds - Other|1,123,000|1,048,000| |Cash|240,000|223,000| |Property|808,000|936,000| |Other|3,623,000|4,372,000| ||12,622,000|13,967,000| |||313.23|31.3.22| |---|---|---|---| |Inflatio||2.70%|3,20%| |Rate ofincrease|in pensions|2.80%|330%| |Discount rate of|liabilities|4 80%|2.80%| |Rate ofincrease|in salar!es|1.70%|2.20%| ## ## ## |21.|RECONCILIATION

ACTIVITIES|OF
NET|IN|COME/(EXPEN|DITURE)
TO|NET
CASH|FLOW
FROM|OPERATING| |---|---|---|---|---|---|---|---|---| ||||||||31.3.23|31.3.22| ||||||||f|f| ||Net Income/(expenditure)||forthe reporting||period (as per|the||| ||statement
offinandal
activities)||||||62,585|(293,298)| ||Adjustments
for:|||||||| ||Depreciation
and amortisation|||charges|||523,393|432,103| ||Interest received||||||(13,320)|(15)| ||Loss on Disposal of|Rxed assets|||||3,639|| ||Decrease/(Increase)|in stocks|||||(33,737)|17,087| ||Decrease/(Increase)|in debtors|||||21,349|683,679| ||Increase/(Decrease)|in creditors|||||446,066|312,887| ||Difference between|pension|charge and cash||contributions||264,000|281,000| ||Net cash used in operating||activities||||1,273,975|1,433,443| |22.|ANALYSIS OF CHANGES IN||NET|FUNDS||||| |||||||At 1.4.22|Cash flow|At 31.3.23| |||||||E|f|f| ||Net cash|||||||| ||Cash at bank and in|hand||||2,302,375|849,863|3,152,238| ||Total|||||2,302,375|849,863|3,152,238|