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2021-03-31-accounts

Registered number: 05794916 Charity number: 1114495

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page
Reference and Administrative Details of the Company, its Trustees and Advisers 1
Trustees' Report 2 - 11
Independent Auditors' Report on the Financial Statements 12 - 15
Statement of Financial Activities 16
Balance Sheet 17
Statement of Cash Flows 18
Notes to the Financial Statements 19 - 33

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Trustees Andrea Jane Arlidge, (Chair), Director (resigned 26 January 2021)
Susan Lesley Dors, Director (Chair from 27 January 2021)
Louise Elisabeth Buxton, Director (resigned 26 January 2021)
Alexandra Cole, Director
Anna Clare Hall, Director
Paul David Harrod, Director
Tabinda Rashid-Fadel, Director (appointed 26 January 2021)
Will Brown, Director (appointed 26 January 2021)
Guy Buckland, Director (appointed 26 January 2021)
Simon Russell, Director (appointed 26 January 2021)
Neil Higginson, Director (appointed 26 January 2021)
Company registered
number
05794916
Charity registered
number
1114495
Registered office
The University of the West of England
Frenchay Campus
Bristol
BS16 1QY
Company secretary
Steve Nelson
Independent auditors
Bishop Fleming LLP
Chartered Accountants
10 Temple Back
Bristol
BS1 6FL
Bankers
Santander
Avon Street
Bristol
BS2 0EL

Page 1

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their annual report together with the audited financial statements of the Charity for the 1 April 2020 to 31 March 2021. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

OBJECTIVES AND ACTIVITIES

Page 2

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES (CONTINUED)

a. POLICIES AND OBJECTIVES

The objective of the charity is to collectively increase, promote, support and celebrate lifelong participation in sport and realising potential for all.

West of England Sport Trust is based at its registered address and uses this site for administrative purposes.

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

Public Benefit Test

The West of England Sport Trust was set up with the following charitable objectives in the Memorandum of Association (the governing document):

The Charity's objects are to promote community participation in healthy recreation for the benefit of the inhabitants of the West of England and in particular to provide, or to assist in providing, and to promote:

(a) public facilities, amenities, equipment and services for healthy recreation;

(b) facilities and services for recreational, sporting or other leisure time occupation in the interests of social welfare for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, have need of such facilities and services;

(c) the improvement and preservation of good health and well-being through participation in healthy recreation;

(d) education, training and coaching courses which promote physical health and fitness;

(e) the advancement of such other charitable purposes beneficial to the community consistent with the objects set out in (a) to (d) above as the Trustees of the Charity shall in their absolute discretion determine.

These objectives provide Wesport with sufficient flexibility to undertake a wide range of activity in the West of England. Our public benefit can be summarised as follows:

Public Benefit Statement

Through the network of organisations across the West of England we will deliver a range of opportunities to our communities to undertake sport and physical activity to improve their physical and mental health and well-being and in turn improve their quality of life. Examples include the delivery of sporting opportunities through the school, Higher Education & Further Education networks, wider community voluntary organisations who are able to support in engaging excluded communities and under-represented groups as well as through contact with local authority sports development and community divisions. The Wesport team works to deliver and coordinate this activity and to attract additional resources to enhance and sustain this delivery.

Page 3

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES (CONTINUED)

b. STRATEGIES FOR ACHIEVING OBJECTIVES

Main objectives for the finanical year 2020/21and the process towards these objectives:

Wesport has continued to deliver against its charitable purpose.

In 2020/21, Wesport has produced a new strategy: Acting with Purpose for our People and Place (2020-25) with a delayed network launch in December 2020, The Strategy sets out the future direction and how Wesport will work collaboratively to make sure that moving through sport and physical activity is for everyone.

2025 Vision: Inspire Active Lives, creating the conditions wherever possible to help everyone move more.

Wesport Strategic Themes for 2020 - 2025:

c. ACTIVITIES FOR ACHIEVING OBJECTIVES

To achieve this vision, the Wesport Mission has set out to:

Establishing the conditions for long–term change, enabling more people to be physically active, inclusive for all.

Wesport has adopted new values that are used to guide our work and our decisions:

Underpinning and driving this mission are a number of Strategic Enablers, which will ensure that the structures, capacity and direction to achieve the vision.

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES (CONTINUED)

d. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT

Highlights for the Strategic Period April 2020 - March 2021:

Against the backdrop of the Covid-19 Pandemic and the associated restrictions Wesport has continued to engage with the network through virtual catch ups and a regular bulletin. Anticipated delivery has been greatly reduced, adapted or put on hold and in many situations cancelled. Priority has been placed on maintaining ongoing communication with the network of partners and the wider West of England audience. There has never been a more important / relevant period of time to advocate for the benefits of physical activity and moving more. Programme design has been adapted to reflect on the immediate and ongoing needs of the audiences to maintain an ability to be physically active during the pandemic.

Headlines summarising Wesport's activity include:

Wesport’s has utilised its communication channels to maintain engagement with the network. This has been a high priority this year as events have been cancelled and face to face engagement non-existent. There has been a need to maintain an ability to influence and advocate for the importance of sport and physical activity in uncertain times. Wesport’s profile and presence in the sector has been key to achieving this. A regular bulletin

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES (CONTINUED)

has been produced fortnightly and sent to a growing circulation list. Wesport’s Twitter account (@WesportAP) reached 3759 followers. The website has received 7677 visits with the Bristol Parks Tennis site having the highest number of visits.

Wesport also supported a number of campaigns through the year, including This Girl Can, Join the movement, Volunteer Week, We are Undefeatable, UK Coaching Week, School Sport Week, Mayathon, The Daily Mile at Home and Mental Health Awareness Week.

Wesport have continued to use data and insight held on the West of England, to influence and inform decision making. This has included data to support an Active Through Football EOI and application and the Tackling Inequalities Fund targeted delivery. The Tackling Inequalities Projects have provided insightful case studies. There has been a focus on the development of Wesport’s Learning as part of a wider piece of work around Monitoring, Evaluation and Learning.

Wesport continues to ensure that it is and embedded within, the local delivery landscape of sport and/ physical activity. Wesport empowers people and organisations that have a direct connect with target audiences to impact on participation in sport and physical activity. This has been a priority in the coordination and management of the Tackling Inequalities Fund and the resources given to local projects to deliver sport and physical activity.

All plans this year to deliver the Workforce Plan (Clubs, Coaches, Volunteers and The Professional Workforce) and the Workforce Innovation Plan have been put on hold. This includes the sports club programme of workshops. Communication with this sector has been in the form of information sharing, guidance and support in relation to the changing lockdown restrictions and potential sources of funding. Clubs in South Gloucestershire and Bristol were able to access a Mental Health awareness webinar to look at the role sports clubs can play in supporting an individual’s mental health.

Community Organisations – Wesport has maintained its connections with voluntary sector community organisations across the West of England in order to continue to focus on targeting inactive individuals from lower socio- economic groups primarily in under-served areas, in order to deliver the objectives of the Tackling Inequalities Fund. Organisations receiving funding through this fund include: Southmead Development Trust, NOVA Sports Coaching, Gympanzees, West of England Rural Network (WERN), 3SG , Lifecycle, Bridges for Communities, The Vench (Lockleaze), Keynsham Mencap, Refugee Rights, Unseen, Heart of BS13, Sporting Family Change, Bath Community Rugby Foundation and Julian House.

The Royal Foundation Coach Core Apprenticeship Programme – Despite many challenges the Year 2 programme was completed with all 10 apprentices successfully completing the qualification. Recruitment for the Year 3 programme commenced in September 2020 and a cohort of 13 apprentices across x 5 employers were recruited and have started on the programme which is due to end in March 2022.

Wesport continues to provide support to the four Unitary Authorities of the West of England. All unitary authorities have been represented at the regular virtual catch up sessions. There have been specific pieces of work with this network which has included: For Bristol City Council progression of the Bristol Strategy and the Bristol Active City Network. Engagement with public health colleagues has increased.

In South Gloucestershire, Wesport has maintained operational links with council staff, there have been ongoing discussion around facility developments.

In North Somerset the focus on Nailsea has now ended with all agreed objectives being delivered upon. Through discussions with the Director of Public Health the focus has moved to Weston and the development of ‘Active Weston’ where the Tackling Inequalities Fund projects have been focused.

In Bath and North East Somerset, Engagement has been with the recently appointed Chief Operating Officer. Operational work is progressing around Active Travel. Bath Recreational Trust have commissioned Wesport to produce an Impact report on their work in the local area. The third sector group 3SG have been a consistent partner through which tackling inequalities fund projects have been developed.

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES (CONTINUED)

Wesport continues to work to influence the objectives and implementation of the West of England Combined Authority and Local Enterprise Partnership, although this has proven a challenge this year. The combined authority did support through staff capacity a joint West of England bid to host teams ahead of Birmingham Commonwealth Games 2022.

The West of England Civil Society Partnership CIC, the directors, including Wesport’s CEO continue to meet regularly, working collectively to influence heath, community and skills agendas, and to co-produce funding applications.

e. SUMMARY

2020/21 financial year has seen the COVID-19 pandemic continue to impact on the lives of the people of the West of England. The inequalities identified at the beginning of the outbreak have continued to widen. Wesport’s planned activity has continued to be impacted upon with an adapted operational plan being put in place. The role of Wesport to advocate for the importance of physical activity has never been as important. Although the situation posed new challenges the Wesport team worked collaboratively to achieve in a challenging environment. The team have remained focused on the Vision and Mission of the organisation, and their contribution to achieving them.

It is impossible to look back on this year without also mentioning the impact the death of George Floyd has had. Wesport’s CEO led the national response of the Active Partnership network, building a shared understanding of what it means to be an anti-racist network through training events for the network’s CEOs. This led to establishing a clear network commitment at the March 2021 (virtual) Active Partnerships Convention, setting out the journey of the network, and individual Active Partnerships to be truly anti-racist. This is not a ‘project’ but a shift in thinking and behaviours to achieve long term goals within our network, to influence the wider sport sector and the places the network covers – the whole of England.

Overall, 2020/21 was a year with many new opportunities explored and improved networks established. Wesport’s role in the West of England voluntary sector landscape has been strengthened both at a strategic and operational level. Where we have built transactional relationships through funding, the focus has been on long term transformational change and capacity building.

Trustees view performance this year as a credit to all concerned. The Wesport Team have been proactive and committed in maintaining and achieving positive outcomes for the organisation, in very challenging circumstances whilst Covid restrictions have been in place.

This has been the first year of delivery of a new strategy where strong foundations are being established.

ACHIEVEMENTS AND PERFORMANCE

FINANCIAL REVIEW

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

a. RESULT FOR THE YEAR

The accounts on pages 16 to 33 set out the details of the statement of financial activities for the year ended 31 March 2021 and the balance sheet as at that date.

There were net incoming resources for the year of £10,711.

This financial year, the Wesport Board made the formal decision to exit the Local Government Pension Scheme (LGPS), through which a number of longstanding staff received their pension. The scheme has been closed to new Wesport staff since 2013, with an alternate pension offered. Trustees have agreed that all staff should be offered the same pension arrangements. Following consultation with affected staff, as of end March 2021, Wesport were in final negotiations to complete the exit from the LGPS, with 1[st] May 2021 as the target date. Alongside this, alternate pensions arrangements have been offered to all staff with Wesport’s current pension provider.

b. GOING CONCERN

After making appropriate enquiries, the trustees have a reasonable expectation that the company 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.

c. RESERVES POLICY

The reserves of the charity should be of a sufficient level to ensure that its recurring commitments and planned revenue expenditure can be met out of income. The trustees will aim to maintain a minimum of £100k in reserves to cover working capital requirements and to allow for wind up costs should that occur.

At 31 March 2021 the charity held total reserves of £459,056 represented by restricted reserves of £249,701 and unrestricted reserves of £209,355.

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. CONSTITUTION

West of England Sport Trust is registered as a charitable company limited by guarantee and was set up by a Trust deed.

The company is constituted under a Trust deed and is a registered charity number 1114495.

The principal object of the company is to promote community participation in healthy recreation for the benefit of the inhabitants of the West of England and in particular to provide, or to assist in providing, and to promote:-

  1. public facilities, amenities, equipment and services for healthy recreation;

  2. facilities and services for recreational, sporting or other leisure time occupation in the interests of social welfare for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, have need of such facilities and services;

  3. the improvement and preservation of good health and well-being through participation in healthy recreation;

  4. education, training and coaching courses which promote physical health and fitness;

  5. the advancement of such other charitable purposes beneficial to the community consistent with the objects set out in 3 (a) to (d) above as the Trustees of the Charity shall in their absolute discretion determine.

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED)

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. In July 2020 Wesport contracted Moon Consulting to manage a recruitment and interview process through which five new Trustees were appointed and following an induction process joined the Board for the January 2021 Board meeting.

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

Once Trustees are appointed, each goes through a comprehensive induction process, including receiving a copy of the Wesport Memorandum of Understanding and Articles of Association, recent board papers, minutes and dates of next meetings, a copy of the latest Wesport Strategy and most recent audited accounts.

Trustees receive an induction pack with the documents highlighted above, and including further policy documents – Delegations Policy, Financial Procedures & Policy, Risk Management Plan & Risk Register Policy, Safeguarding Children & Young People Policy, Wesport Trustee Handbook.

Trustees are provided with information about Wesport – Current Trustees / Patrons, Staff Structure & Governance, Chief Executive Officer's job description, Operations Plan for the current financial year and contact details for the CEO and senior team.

Finally, Trustees are provided with information about their role – Trustee Role Description & Person Specification, Good Trustee Practice Information (Charity Commission), Trustee Declaration of Interests, Governance Documents to Sign & Return, Trustee Skills Matrix.

In addition, Trustee training opportunities are provided through national and local organisations, through direct engagement with the staff team and at events to understand the business of Wesport and the environment the organisation operates within.

d. PAY POLICY FOR SENIOR STAFF

Wesport has a pay and remunerations policy approved by the board and adhered to on an annual basis. Senior staff pay is a part of this, with specific roles identified at an agreed band of remuneration.

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED)

e. ORGANISATIONAL STRUCTURE AND DECISION MAKING

Wesport has a Trust Board Legal and Regulatory responsibilities policy, setting out the Board’s approach to ensuring full compliance with all legal requirements, including finance, planning and management, internal controls and risk management. Wesport also has a delegations policy, agreed by the board of Trustees, which sets out clear delegated responsibility for CEO and senior staff on decision making. On a day to day basis, clear policies and procedures are in place to maintain good governance and appropriate lines of communication regarding decision making.

f. RISK MANAGEMENT

The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

FUTURE DEVELOPMENTS

The launch of the new strategy was delayed, but this was relevant in terms of the national picture and the impact of the pandemic. Over the coming year the team will continue to embed the vision, mission and themes of the strategy. The continuing Covid–19 situation will impact on the nature of delivery being planned, with flexibility and an ability to respond to changing circumstances being key. There will be a strong focus on tackling inequalities in our communities that have widened further during the pandemic.

The team will focus on actions to fulfil the commitment to tackling racism and racial inequality alongside the network of Active Partnerships across England.

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

FUNDS HELD AS CUSTODIAN

Through the connections and work Wesport does with often, small voluntary sector organisations, on their behalf, Wesport holds a few small funding pots to enable the achievement of local objectives for that sport or organisation. The outcomes worked towards often will straddle financial years, so funding to aid the achievement of these local objectives is held

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees (who are also the directors of the Charity 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 . 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 Charity and of its incoming resources and application of resources, including its income and expenditure, 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 Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DISCLOSURE OF INFORMATION TO AUDITORS

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

Approved by order of the members of the board of Trustees on 13 July 2021 and signed on their behalf by:

Susan Dors Chair of Trust Board

Page 11

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WEST OF ENGLAND SPORT TRUST

OPINION

We have audited the financial statements of West of England Sport Trust (the 'charity') for the year ended 31 March 2021 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 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 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.

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WEST OF ENGLAND SPORT TRUST (CONTINUED)

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 Auditors' Report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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:

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.

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WEST OF ENGLAND SPORT TRUST (CONTINUED)

AUDITORS' 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 Auditors' 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:

As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained understanding of the legal and regulatory frameworks that the Charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities Act 2011, Charity SORP 2019, FRS 102 and the terms and conditions attaching to material grants received by the Charity. In addition, we considered the provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charity’s ability to operate or avoid a material penalty. These included data protection regulations, health and safety regulations and employment legislation.

Our procedures to respond to risks identified included the following:

We also communicated identified laws and regulation and potential fraud risk to all trustees of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit.

As a result of the inherent limitations of an audit, there is a risk that not all irregularities, including a material misstatement in financial statements or non-compliance with regulation, will be detected by us. The risk increases the further removed compliance with a law and regulation is from the events and transactions reflected

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WEST OF ENGLAND SPORT TRUST (CONTINUED)

in the financial statements, given we will be less likely to be aware of it, or should the irregularity occur as a result of fraud rather than a one-off error, as this may involve intentional concealment, forgery, collusion, omission or misrepresentation.

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 Auditors' 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 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Joseph Scaife FCA DChA (Senior Statutory Auditor) for and on behalf of

Bishop Fleming LLP Chartered Accountants Statutory Auditors 10 Temple Back

Bristol BS1 6FL 27 July 2021

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Note
INCOME FROM:
Donations and legacies
2
Charitable activities
3
Investments
4
TOTAL INCOME
EXPENDITURE ON:
Charitable activities
5
TOTAL EXPENDITURE
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
Net movement in funds
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2021
£
267,917
78,781
1,281
347,979
323,653
323,653
24,326
185,029
24,326
209,355		 Restricted
funds
2021
£
525,821
-
-
525,821
539,436
539,436
(13,615)
263,316
(13,615)
249,701		 Total
funds
2021
£
793,738
78,781
1,281
873,800
863,089
863,089
10,711
448,345
10,711
459,056		 Total
funds
2020
£
833,568
70,361
3,012
906,941
690,946
690,946
215,995
232,350
215,995
448,345

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

The notes on pages 19 to 33 form part of these financial statements.

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WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:05794916

BALANCE SHEET AS AT 31 MARCH 2021

Note
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
TOTAL NET ASSETS
CHARITY FUNDS
Restricted funds
12
Unrestricted funds
12
TOTAL FUNDS		 23,653
525,080
548,733
(89,677)		 2021
£
459,056
459,056
459,056
249,701
209,355
459,056		 2,191
515,539
517,730
(69,385)		 2020
£
448,345
448,345
448,345
263,316
185,029
448,345

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 on 13 July 2021 and signed on their behalf by:

Susan Dors Chair of Trust Board

The notes on pages 19 to 33 form part of these financial statements.

Page 17

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Investment income received
NET CASH 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
The notes on pages 19 to 33 form part of these financial statements		 2021
£
8,260
1,281
1,281
-
9,541
515,539
525,080		 2020
£
110,655
3,012
3,012
-
113,667
401,872
515,539

Page 18

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

1.1 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.

West of England Sport 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.

1.2 COMPANY STATUS

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.

1.3 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

1.4 GOING CONCERN

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

The Trustees continue to monitor the impact that Covid-19 is having on operations and are taking actions to minimise their effect on the long-term reserves of the charity. Under all the scenarios reviewed, the charity has sufficient reserves to enable it to continue as a going concern for the foreseeable future. For this reason it continues to adopt the going concern basis in preparing the financial statements.

1.5 INCOME

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

Page 19

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES (continued)

1.6 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.

Charitable activities 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.

1.7 TANGIBLE FIXED ASSETS AND DEPRECIATION

All assets costing more than £1,000 are capitalised.

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.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

The charity holds fixed assets that cost £9,455 (2020: £9,455) and are carried in the accounts at nil net book value

1.8 OPERATING LEASES

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

1.9 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.

1.10 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.

Page 20

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES (continued)

1.11 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 within interest payable and similar charges.

1.12 PENSIONS

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

The company also operates a defined benefits pension scheme for the local government staff which is operated by Bath and North East Somerset Council. The benefits of the scheme are governed by the Local Government Pension Scheme Regulations 1997, as amended, and the employer's contributions are set by the Fund Actuary every three years.

1.13 FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Financial instruments includes cash at bank, trade debtors, accrued income from financial instruments (comprising dividends and interest due from investments), trade creditors and accrued expenditure.

Page 21

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. INCOME FROM DONATIONS AND GRANTS

Unrestricted
funds
2021
£
Donations
-
Grants
264,217
Similar incoming resources
3,700
267,917
Unrestricted
funds
2020
£
Donations
10
Grants
257,417
Similar incoming resources
88,400
345,827		 Restricted
funds
2021
£
-
525,821
-
525,821
Restricted
funds
2020
£
-
487,741
-
487,741		 Total
funds
2021
£
-
790,038
3,700
793,738
Total
funds
2020
£
10
745,158
88,400
833,568

Page 22

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

3. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
funds
2021
£
Core and operational services
78,781
Unrestricted
funds
2020
£
Core and operational services
70,361
INVESTMENT INCOME
Unrestricted
funds
2021
£
Interest on deposit accounts
1,281
Unrestricted
funds
2020
£
Interest on deposit accounts
3,012		 Total
funds
2021
£
78,781
Total
funds
2020
£
70,361
Total
funds
2021
£
1,281
Total
funds
2020
£
3,012

4. INVESTMENT INCOME

Page 23

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

5. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

Unrestricted
funds
2021
£
Core and operational services
323,653
Sport England
-
NGB projects
-
Grant funding
-
323,653
Unrestricted
funds
2020
£
Core and operational services
299,715
Sport England
-
NGB projects
-
Grant funding
-
299,715		 Restricted
funds
2021
£
-
499,538
1,925
37,973
539,436
Restricted
funds
2020
£
-
331,160
2,858
57,213
391,231		 Total
funds
2021
£
323,653
499,538
1,925
37,973
863,089
Total
funds
2020
£
299,715
331,160
2,858
57,213
690,946

6. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Core and operational services
Sport England
NGB projects
Grant funding		 Activities
undertaken
directly
2021
£
237,461
277,226
1,375
11,496
527,558		 Support
costs
2021
£
86,192
222,312
550
26,477
335,531		 Total
funds
2021
£
323,653
499,538
1,925
37,973
863,089

Page 24

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

6. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Core and operational services
Sport England
NGB projects
Grant funding		 Activities
undertaken
directly
2020
£
252,825
274,208
1,250
12,580
540,863		 Support
costs
2020
£
46,890
56,952
1,608
44,633
150,083		 Total
funds
2020
£
299,715
331,160
2,858
57,213
690,946

Analysis of direct costs

Staff costs
Delivery costs
Staff costs
Delivery costs		 Core and
operational
services
2021
£
212,170
25,291
237,461
Core and
operational
services
2020
£
231,988
20,837
252,825		 Sport
England
2021
£
256,463
20,763
277,226
Sport
England
2020
£
211,975
62,233
274,208		 NGB
projects
2021
£
-
1,375
1,375
NGB
projects
2020
£
1,250
-
1,250		 Grant
funding
2021
£
14,080
(2,584)
11,496
Grant
funding
2020
£
7,677
4,903
12,580		 Total
funds
2021
£
482,713
44,845
527,558
Total
funds
2020
£
452,890
87,973
540,863

Page 25

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

6. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Analysis of support costs

General mangement (inc. office
and staff expenses)
Marketing and communications
Grants for delivery
Consultancy
Governance
General management (inc.
office and staff expenses)
Marketing and communications
Grants for delivery
Governance
7.
AUDITORS' REMUNERATION		 Core and
operational
services
2021
£
36,391
544
-
35,184
14,073
86,192
Core and
operational
services
2020
£
40,495
175
-
6,220
46,890		 Sport
England
2021
£
8,945
-
213,367
-
-
222,312
Sport
England
2020
£
8,349
4,246
44,357
-
56,952		 NGB
projects
2021
£
-
-
550
-
-
550
NGB
projects
2020
£
108
-
1,500
-
1,608		 Grant
funding
2021
£
201
-
26,276
-
-
26,477
Grant
funding
2020
£
3,203
-
41,430
-
44,633		 Total
funds
2021
£
45,537
544
240,193
35,184
14,073
335,531
Total
funds
2020
£
52,155
4,421
87,287
6,220
150,083
2021 2020
£ £
Fees payable to the Charity's auditor in respect of:
Auditors' remuneration - audit 3,750 3,400
Auditors' remuneration - other services 1,250 1,250

During the year, no Trustees received any remuneration (2020: £Nil). During the year, no Trustees received any benefits in kind (2020: £Nil). During the year, no Trustees received reimbursement of expenses (2020: £272 to 2 Trustees).

Page 26

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

8. STAFF COSTS

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2021
£
368,935
35,698
78,080
482,713		 2020
£
355,366
33,282
64,242
452,890

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

Senior Management Team
Development officers and administration		 2021
No.
2
11
13		 2020
No.
2
12
14

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

2021 2020
No. No.
In the band £80,001 - £90,000 1 1

9. TRUSTEES' INDEMNITY INSURANCE

During the year the charity paid £1,073 (2020: £1,363) for Trustee indemnity insurance.

10. DEBTORS

DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income		 2021
£
17,286
6,367
23,653		 2020
£
913
1,278
2,191

Page 27

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other taxation and social security
Pension fund loan payable
Accruals and deferred income		 2021
£
23,266
8,804
7,495
50,112
89,677		 2020
£
10,536
8,541
8,553
41,755
69,385

Included in accruals and deferred income is deferred income of £Nil (2020: £26,147) in relation to grants received in advance.

Page 28

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

UNRESTRICTED FUNDS
Wesport Core and Operational
RESTRICTED FUNDS
Sport England
NGB Projects
Grant Funding
TOTAL OF FUNDS		 Balance at 1
April 2020
£
185,029
202,113
3,398
57,805
263,316
448,345		 Income
£
347,979
416,921
-
108,900
525,821
873,800		 Expenditure
£
(323,653)
(499,538)
(1,925)
(37,973)
(539,436)
(863,089)		 Balance at
31 March
2021
£
209,355
119,496
1,473
128,732
249,701
459,056

Page 29

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR

Balance at
1 April 2019
£
Income
£
UNRESTRICTED FUNDS
Wesport Core and Operational
65,544
419,200
RESTRICTED FUNDS
Sport England
116,430
416,843
NGB Projects
6,256
-
Grant Funding
44,120
70,898
166,806
487,741
TOTAL OF FUNDS
232,350
906,941
13.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR		 Expenditure
£
(299,715)
(331,160)
(2,858)
(57,213)
(391,231)
(690,946)		 Balance at
31 March
2020
£
185,029
202,113
3,398
57,805
263,316
448,345
Unrestricted
funds
2021
£
Current assets
282,249
Creditors due within one year
(72,894)
TOTAL
209,355		 Restricted
funds
2021
£
266,484
(16,783)
249,701		 Total
funds
2021
£
548,733
(89,677)
459,056

Page 30

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)

ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

Current assets
Creditors due within one year
TOTAL		 Unrestricted
funds
2020
£
242,694
(57,665)
185,029		 Restricted
funds
2020
£
275,036
(11,720)
263,316		 Total
funds
2020
£
517,730
(69,385)
448,345
14.
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW
ACTIVITIES
Net income for the year (as per Statement of Financial Activities)
ADJUSTMENTS FOR:
Investment income received
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Decrease in pension scheme liability
NET CASH PROVIDED BY OPERATING ACTIVITIES
15.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
TOTAL CASH AND CASH EQUIVALENTS		 FROM OPERATING
2021
2020
£
£
10,711
215,995
(1,281)
(3,012)
(21,462)
6,761
20,292
1,311
-
(110,400)
8,260
110,655
2021
2020
£
£
525,080
515,539
525,080
515,539

Page 31

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

16. ANALYSIS OF CHANGES IN NET DEBT

Cash at bank and in hand
Debt due within 1 year		 At 1 April
2020
£
515,539
(8,553)
506,986		 Cash flows
£
9,541
1,058
10,599		 At 31 March
2021
£
525,080
(7,495)
517,585

17. PENSION SCHEME DEFICIT

The charity contributes to the Avon Pension Fund administered by Bath and North East Somerset Council on behalf of its employees. The scheme is a defined benefit scheme providing pension and lump sums at retirement based on salary and length of service.

When Wesport became an employer in the Avon Pension Fund, Bath and North East Somerset Council agreed, in respect of staff transferring from themselves to Wesport, to credit Wesport with sufficient assets to make good any deficit relating to past service. Therefore, Wesport started life on a fully funded basis.

An actuarial valuation took place as at 31 March 2019 which showed a surplus on the scheme of £25,610. Wesport's contibutions to the scheme stopped in March 2020 and therefore the liability has been cleared to zero at 31 March 2021 (2020: £Nil). Post year-end on 30th April 2021, Wesport exited the Avon Pension Fund scheme. A further interim valuation indicates a potential surplus of £117,800, subject to a final valuation.

18. OPERATING LEASE COMMITMENTS

At 31 March 2021 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

2021 2020
£ £
Not later than 1 year 8,530 8,530

During the year £17,060 has been recognised in expenditure in relation to operating lease payments (2020: £17,060).

19. RELATED PARTY TRANSACTIONS

During the prior year Wesport made purchases of £2,025 from Access Sport, an organisation with Trustees in common.

Page 32

WEST OF ENGLAND SPORT TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

20. CHARITY INFORMATION

The West of England Sport Trust is a company limited by guarantee and a charity registered at the Charity Commission in England and Wales. The principal office is The University of the West of England, Frenchay Campus, Coldharbour Lane, Bristol, BS16 1QY.

Page 33