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← Basingstoke And Deane Community Leisure Trust

2024-03-31-accounts

Registered number: 05485349 Charity number: 1113491

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST (A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 5
Trustees' responsibilities statement 6
Independent auditor's report on the financial statements 7 - 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 27

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees Hazel Tilbury, Chair (to 14 November 2023)
Ian Walkom, Chair (from 14 November 2023), Vice Chair (to 14 November 2023)
Abigail Compton-Burnett, Council Nominee
Andy Finn
Richard Eldridge, Vice Chair (from 14 November 2023), Treasurer
Steven Swatton
Toni Shaw, Secretary
Company registered
number
05485349
Charity registered
number
1113491
Registered office
The Aquadrome
Worting Road
Basingstoke
Hampshire
RG22 6PG
Independent auditor
Crowe U.K. LLP
R+ Building,
2 Blagrave Street
Reading
Berkshire
RG1 1AZ
Bankers
Lloyds
25 Gresham Street
London
RG21 7NS
NatWest
3 London Street
Basingstoke
Hampshire
RG21 7NS

Page 1

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of Basingstoke & Deane Community Leisure Trust (the charity) for the year ended 31 March 2024 under the Companies Act 2006 and the Charities Act 2011. The relevant financial statements comply with the Companies Act 2006, the Charity’s governing document and the relevant Statement of Recommended Practice (the Charities SORP (FRS 102).

Structure, governance and management

CONSTITUTION

The charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 20 June 2005 as amended 13 May 2010.

The charity is constituted under a Memorandum of Association dated 20 June 2005 and is a registered charity number 1113491.

METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The original Trustees were recruited from an advertisement in the local paper, further Trustees were referred by existing Trustees. Trustees are selected to bring a broad range of relevant experience and skills to the Trust. A third of the Trustees are put up for re-election at the Annual General Meeting of the Trust.

POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

All new Trustees will be provided with induction training by the Chair of the Trust, and by the Contract Manager. Any new Trustees appointed in the period are given a full induction advising them of their obligations as a Trustee as well as a detailed explanation as to how the Trust and the agency agreement with Serco allow a full service to be provided. Basingstoke & Deane Borough Council provided training for the initial Trustees on their roles and responsibilities. It also provides a programme of training for staff and Trustees of voluntary organisations with Basingstoke Voluntary Action (BVA) which Trustees can attend as required

ORGANISATIONAL STRUCTURE AND DECISION MAKING

Strategic decisions are made by the Board which meets at least quarterly. The day to day operation of the services that are provided is delegated to the Contract Manager. Regular reviews of operating performance are conducted by the Trust. The Trust has a service level agreement with Basingstoke & Deane Borough Council to provide an operational monitoring of our services and of our agent Serco Leisure.

PAY POLICY

The Trust has an agency agreement with Serco Leisure Operating Ltd. The pay policy for the senior salaried staff at Serco is set out by the Serco Management at the beginning of each financial year. An overall percentage review level is set and factors are taken into account including but not limited to performance, market rates and retention risk. Annual performance appraisals are carried out in accordance with a published structure and timetable.

RISK MANAGEMENT

Contractual and financial risks to the Trust are controlled through the principal contracts under which the Trust operates. The terms of leases under which the Trust operates, and the agency agreements with the operator, protect the financial position of the Trust. Serco our managing agent is responsible for any operating loss. Regular monitoring of operational matters is carried out by the local council in conjunction with the Trust to ensure agreed key performance standards are complied with.

Page 2

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The Trustees through their operating agent have carried out a risk assessment of their operations and will continue to monitor these on a regular basis. Principle risks are covered in detailed operating procedures and policies of our operating agent. The Trust has reviewed these including their Risk Register and risk management plans and consider them robust. Biennial independent audits of Health and Safety arrangements are carried out and action plans maintained to address any concerns.

The Trust has reviewed its governance procedures and has instituted an annual cycle of reviews of all policies and procedures.

The Trust also recognises the need to keep current the skills and complement of Trustees.

POLICIES AND OJECTIVES

The Trust has been established for the benefit of the Basingstoke and Deane Borough area to

The Trust currently manages three facilities on behalf of the community, the Basingstoke Aquadrome, Golf Centre & Tadley Health & Fitness Centre. The facilities at the Aquadrome include 2 swimming pools, a lagoon with flumes, rapid and splash pool, gym with fitness area with 130 stations and a health suite. The Golf Centre provides a par 3, 9 hole golf course, driving range and an adventure golf course. The Tadley health & Fitness Centre provides a swimming pool, health suite and a 45 station gym.

PUBLIC BENEFIT

The Trustees consider that the Charity satisfies the requirements of the Charities Act (2011) and its charitable purpose in that the trust provides access to healthy physical activities to the local community at a reasonable or subsidized cost. The Trust also provides a variety of community initiatives/activities designed to encourage people from hard to reach groups and/or disadvantaged groups to access our facilities.

The Trust’s pricing policy is, pricing for participation, to ensure that people are not excluded by high charges. The Trust has concessionary prices for children and young people aged 19 or under (5 and under still free) and adults aged 60 or over. The Trust has special low income prices for people who are in receipt of one or more of the following: Universal Credit, Income Support, Housing Benefit, Council Tax Benefit, Income Based Job Seekers allowance, and Pensions Credit.

Page 3

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENTS OF OBJECTIVES

With the returning to near-normal operating practices following the pandemic, the Trust was able to turn its focus to ensuring that its objectives were met.

Objectives 2023/24

FINANCIAL REVIEW

The overall result of a deficit of £23,096 for the year is reflective of the challenge of operating in a crowded market in the area with numerous operators offering provisions for improving fitness. The Trust however, retains its unique offering of swimming pools, gyms, fitness classes, rehabilitation support and adventure golf all available in one membership whilst ensuring access is available to those whose circumstances might not ordinarily afford membership.

RESERVES POLICY

The Trust has an agency agreement with Serco Leisure Operating Ltd for the operation of the services provided by the Trust; this agreement makes Serco liable for any deficit in the operating costs protecting the Trust and its services and employees. The policy of the Trust is to have at all times sufficient reserves to meet obligations not covered by this agreement. At the end of the reporting period, the Trust held reserves of £122,840, no amount of these reserves is restricted. Of this amount, £20,000 is held as a general reserve to service any unforeseen requirements. The balance is reviewed regularly and has historically been used to contribute to facility improvements and upgrades either in part or entirety. The balance is expected to be committed to new or existing projects in the 12 to 18 month period following the financial year end. There are no reserves that can only be realised by disposing of a fixed asset or programme related investment.

PLANS FOR THE FUTURE

Trust Objectives 2024/25

The Trust works closely with the Council and local health providers, including Social Prescribers, to introduce new specialist provision for targeted groups as well as promoting our existing provision.

Page 4

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

GOING CONCERN

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

AUDITORS

Crowe UK LLP have indicated their willingness to continue in office. The Designated Trustees will propose a motion re-appointing the auditors at a meeting of the Trustees.

In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Ian Walkom

Date:

Page 5

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024

The Trustees (who are also the directors of Basingstoke & Deane Community Leisure Trust for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

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

Approved by order of the members of the board of Trustees and signed on its behalf by:

Ian Walkom

Date:

Page 6

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

Opinion

We have audited the financial statements of Basingstoke & Deane Community Leisure Trust (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.

Page 7

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST (CONTINUED)

Other information

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

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our 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 Trustees' Report.

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

Page 8

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, 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.

Auditor's responsibilities for the audit of the financial statements

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

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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the organisation operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context was Financial Reporting Standard 102. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the organisation’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the organisation for fraud.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases and reading minutes of meetings.

Page 9

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST (CONTINUED)

Owing 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, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, 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 noncompliance and cannot be expected to detect non-compliance with all 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 Auditor's report.

Use of our report

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

Alastair Lyon (Senior statutory auditor)

for and on behalf of Crowe U.K. LLP

Statutory Auditor R+ Building, 2 Blagrave Street

Reading

Berkshire RG1 1AZ

Date:

Page 10

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Charitable activities
5
Other income
6
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
4,433,928
305,494
4,739,422
4,762,518
4,762,518
(23,096)
145,936
(23,096)
122,840		 Restricted
funds
2024
£
-
22,721
22,721
22,721
22,721
-
-
-
-		 Total
funds
2024
£
4,433,928
328,215
4,762,143
4,785,239
4,785,239
(23,096)
145,936
(23,096)
122,840		 Total
funds
2023
£
3,580,954
292,334
3,873,288
3,909,040
3,909,040
(35,752)
181,688
(35,752)
145,936

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 14 to 27 form part of these financial statements.

Page 11

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee) REGISTERED NUMBER: 05485349

BALANCE SHEET AS AT 31 MARCH 2024

Note
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
16
Unrestricted funds
16
Total funds		 26,519
562,382
283,289
872,190
(816,104)		 2024
£
66,754
66,754
56,086
122,840
122,840
122,840
-
122,840
122,840		 16,744
539,691
227,743
784,178
(648,168)		 2023
£
9,926
9,926
136,010
145,936
145,936
145,936
-
145,936
145,936

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Ian Walkom

Date:

The notes on pages 14 to 27 form part of these financial statements.

Page 12

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Note
Cash flows from operating activities
Net cash used in operating activities
18
Cash flows from investing activities
Purchase of tangible fixed assets
12
Net cash (used in)/provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
19
The notes on pages 14 to 27 form part of these financial statements		 2024
£
159,373
(103,827)
(103,827)
-
55,546
227,743
283,289		 2023
£
(284,762)
-
-
-
(284,762)
512,505
227,743

Page 13

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. General information

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basingstoke & Deane Community Leisure Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Basingstoke & Deane Community Leisure Trust constitutes a public benefit entity as defined by FRS 102.

2.2 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the company 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 company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 14

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.2 Income (continued)

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

2.4 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Useful economic life used in the depreciation calculation is determined by using the lower of the underlying asset's estimated useful economic life and the contractual ending date with Basingstoke and Deane Council.

Depreciation is provided on the following basis:

Page 15

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.5 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.9 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.10 Pensions

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.

Page 16

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Critical accounting estimates and areas of judgment

In the application of the charity’s accounting policies, which are described in note 1. Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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

The trustees consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.

4. Net income/(expenditure)

2024 2023
£ £
This is stated after charging:
Depreciation of tangible assets:
- owned by the charity 46,999 52,242
Auditor's remuneration - audit 17,000 14,975

Page 17

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Income from charitable activities

Unrestricted
funds
2024
£
Income from charitable activities - Leisure centre and pool expenses
4,433,928
Unrestricted
funds
2023
£
Income from charitable activities - Leisure centre and pool expenses
3,580,954		 Total
funds
2024
£
4,433,928
Total
funds
2023
£
3,580,954

6. Other incoming resources

Unrestricted
funds
2024
£
Grants receivable
305,494
Unrestricted
funds
2023
£
Grants receivable
276,721		 Restricted
funds
2024
£
22,721
Restricted
funds
2023
£
15,613		 Total
funds
2024
£
328,215
Total
funds
2023
£
292,334

Page 18

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. Analysis of expenditure on charitable activities

Summary by fund type

Leisure centre and pool expenses
Leisure centre and pool expenses
Summary by expenditure type
Leisure centre and pool expenses
Leisure centre and pool expenses		 Unrestricted
funds
2024
£
4,762,518
Unrestricted
funds
2023
£
3,893,427
Staff costs
2024
Depreciation
2024
£
£
2,248,409
46,999
Staff costs
2023
Depreciation
2023
£
£
1,850,624
52,242		 Restricted
funds
2024
£
22,721
Restricted
funds
2023
£
15,613
Other costs
2024
£
2,489,831
Other costs
2023
£
2,006,174		 Total
2024
£
4,785,239
Total
2023
£
3,909,040
Total
2024
£
4,785,239
Total
2023
£
3,909,040

Page 19

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. Analysis of expenditure by activities

Staff costs
Leisure centre and pool expenses
Staff costs
Leisure centre and pool expenses
Analysis of support costs
Depreciation
Other costs
Central finance recharges
Unrecoverable VAT
Insurance
Agent management fees
Auditor's remuneration
Bank interest
Legal and professional fees		 Activities
undertaken
directly
2024
£
2,248,409
1,706,867
3,955,276
Activities
undertaken
directly
2023
£
1,850,624
1,916,628
3,767,252		 Support
costs
2024
£
-
829,962
829,962
Support
costs
2023
£
-
141,788
141,788
2024
£
46,999
113,581
103,346
360,785
49,507
71,582
17,000
70
67,092
829,962		 Total
funds
2024
£
2,248,409
2,536,829
4,785,238
Total
funds
2023
£
1,850,624
2,058,416
3,909,040
2023
£
52,242
104,959
193,983
315,692
60,373
(643,550)
14,975
-
43,114
141,788

Page 20

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Auditor's remuneration

2024 2023
£ £
Fees payable to the Company's auditor for the audit of the Company's
annual accounts 17,000 14,975
Fees payable to the Company's auditor in respect of:
All non-audit services not included above 3,000 2,400

10. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
2,092,553
105,768
50,088
2,248,409		 2023
£
1,704,098
107,662
38,864
1,850,624

The average number of persons employed by the Company during the year was as follows:

2024 2023
No. No.
Employees 183 128

No employee received remuneration amounting to more than £60,000 in either year.

During the year remuneration and benefits received by key management personnel totalled £104,825 ( 2023: £100,806 ).

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL) .

Page 21

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
12.
Tangible fixed assets
Cost or valuation
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
13.
Stocks
Finished goods and goods for resale
14.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2024
£
26,519
2024
£
51,129
148,267
362,986
562,382		 Fixtures and
fittings
£
671,727
103,827
775,554
661,801
46,999
708,800
66,754
9,926
2023
£
16,744
2023
£
13,291
361,534
164,866
539,691

Page 22

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Accruals and deferred income
Deferred income at 1 April 2023
Resources deferred during the year
Amounts released from previous periods		 2024
£
83,137
27,330
705,637
816,104
2024
£
119,136
180,018
(119,136)
180,018		 2023
£
27,690
29,601
590,877
648,168
2023
£
94,519
119,136
(94,519)
119,136

Page 23

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16. Statement of funds

Statement of funds - current year

Unrestricted funds
General funds
Restricted funds
Other Restricted funds
Total of funds
Statement of funds - prior year
Unrestricted funds
General Funds - all funds
Restricted funds
Restricted Funds - all funds
Total of funds		 Balance at 1
April 2023
£
145,936
-
145,936
Balance at
1 April 2022
£
181,688
-
181,688		 Income
£
4,739,422
22,721
4,762,143
Income
£
3,857,675
15,613
3,873,288		 Expenditure
£
(4,762,518)
(22,721)
(4,785,239)
Expenditure
£
(3,893,427)
(15,613)
(3,909,040)		 Balance at
31 March
2024
£
122,840
-
122,840
Balance at
31 March
2023
£
145,936
-
145,936

Page 24

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

17. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
66,754
Current assets
862,863
Creditors due within one year
(806,777)
Total
122,840
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
£
Tangible fixed assets
9,926
Current assets
784,178
Creditors due within one year
(648,168)
Total
145,936		 Total
funds
2024
£
66,754
862,863
(806,777)
122,840
Total
funds
2023
£
9,926
784,178
(648,168)
145,936

18. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities		 2024
£
(23,096)
46,999
(9,775)
(22,691)
167,936
159,373		 2023
£
(35,752)
52,242
(7,143)
(174,254)
(119,855)
(284,762)

Page 25

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

19. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 2024
£
283,289
283,289		 2023
£
227,743
227,743

20. Analysis of changes in net debt

Cash at bank and in hand At 1 April
2023
£
227,743
227,743		 Cash flows
£
55,546
55,546		 At 31 March
2024
£
283,289
283,289

21. Pension commitments

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £50,088 ( 2023: £38, 864).

22. Operating lease commitments

At 31 March 2024 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2024
£
19,040
9,991
29,031		 2023
£
19,092
29,031
48,123

Page 26

BASINGSTOKE & DEANE COMMUNITY LEISURE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

23. Related party transactions

Renumeration to key management personal has been disclosed in note 8. There were no other related party transactions in the period.

24. Controlling party

The charity is considered to be controlled by its board of trustees.

Page 27