COMPANY'NO. 05Z07019 CHARITY NQ. 1117138 INSPIRING A HEALTHIER YOU ABBEYCROFT LEISURE IA Company Limited by Guarantee) ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 UIIIWllllllll •A(la4FJE* 1311212023 COMPANIES Hrj A07
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.Abbeycroft'Lelsure FINANCIAL ATEmENTs for the year ended 31 March 2023 CONTENTS PAGE Welcome from the Chief Execytive Trv5tees' Anrwjal ReFKIrt IndEpendentAuditorf5 reportto the member5 17 Cot)solldated St*ementof nala1 Activities 21 Group alld Chartty Baraesheets 22 Consolldaied Statement of Cash Hows 24 Notes to thÈ fina1 ststènents 25
Abbeycroft 'Leisure FINANCIAL STATEMENTS for the year ended 31 Marth 2023 REFERENCEANDADMINISTRATION DETAILSforthe year ended 31 March 2023 Tru5tus & DirertQT5 Sarah Howard MBE (Charl Oavid Howells FCCA Ire Chairl Simon Burton Marie Mills rimothy Muii John Turnbull &r RobErt Wales Rosemary Mason Kate Vaughton Chiel £llte Warren 5myth Cornp3nyStcretary Lynda Pope FCCA ftetlstered Office .Abbeyttoft Leisu Haverhill Letsure Centre Ehring5hausen Way HavÈrhill Suffolk CB9 OER Auditors Price 8ailey LLP Tenny50n House Cambridge Busness Pawk CambrTd¢e aankevs National Westminster Bank PLC 7 Cornhill Buryst Edmunds Suffolk IP33 IAX IWS 8ank 30 Market Hill dbvry COIO 2EL Solicitoys Winekwtrth Sherworyj Minerva House 5 Montague aose London SEI 988 Ashtons Legal Fornham Business Court The Log Barn Fomham St Martin IP31 ISL Senltsr Mana8eis The leadetship Team consists of the followY*g post$: thlef Executive Siratssi¢ Dirrfi( Flnan<e Dlrector Opwations Olrertor Warren Smyth Karen Points Lynda Pope FCC4 Tratey Loynd5
,Abbeycroft Leisure", FINANCIAL STATEMENTS for the year ended 31 m?h 2023 .1ElC(xE FROM THE CHIEF EXEam l am extrernely proud to be ifttrodudng our Impart 51atement report.for.202212023 which has been.the Ilist full:year of operarion ¢leaK of interrupttron after some¢XtMe(irI¢11 limes. Ttiisytar has seen the organisalion 90n de¥elopinB our 5trvicesto prwndemic level5al tack&ng some¢ii 500eties bigy.st ¢hèllenges. l am pleasedto saythatourfoorfall andmembershiphasAÈaron retumedto pre-pandemlclevels. and wrswim programmes have continued to grow in strength. Thue have been aided bythe inve5tmentthat West Suffolk Council and Bergh DTr5trict C£+uncils have made in leisure facilitiek These have been a siinificairt investThnt and brought abcMJt first-class tacilitie5 to local communities. Both Ccrtrncils ha¥e On again demonstrated thar comnwtment to the health ènd wellbtirtg of their ¢ommunities by puttiDE in platt arrnngerneAts to 5UPP
.Abbeycroft" Lelsure TRUSTEES. ANNUAL REPORT for the year ended 31 March 2023 The Trustees are pleased to present their annual reporttogether wffih thefinancial stalernents of Abbeycroft Leisure for the year ended 31 March 2023. Ourlmpact Following the Pandernlt and a further year of recovery. the need for physical artivty and the role it pJ3ys In the health and wellbeing of our natioft has becomewtally impcrtant. Ourpartnership with Westsuffolk Council and Babergh Distrirt Council has meantth we were well placed to respond to the wnerginE need to ofler health and wellbeing programrnes Wthin our communities that could help reduce the r4ncreasirgStTJn on the N Workine with West suffolk Healih lanCe. thecouwls. xhools and IrKal t¥Jsinesse5. we have been able to expand exrstlng initiatives and introduce several r ones tackting inequalitiesand strerWheThng our commut¥ti"es. £6.2m social value rewrned Servin8 over 1S.QJ) memkns £IIM annual turnover- all profits reimfèsted. Not-for-profit charitable status 1.8M footfall Twelve communty faulities Structure. Governan¢e and Management Govemin documEnt Abbeycroft Le15ure 15 a Charitsble Cornpzny bmited ty Guarant Irrystered numbÈr 052070191 and governed by its Memorandum and pns¢les of Assooatlon dated 16 Au8USt 2QKM. The Charit3t4e Company beg3n trading on I bpril 2005 and therefore these accounts present resulis for the seventeenth year of vading. Charitable Statu5 was aw7rded to the Charitable Company by the Charity CrniOn on 5 Decernbtr 2Cf16 Icharity number 11171381 antl as such the accounts hBve been prepèred in accordarKe with the Statement of RectMended Practice - Charities ISORP FRS1021 and the Companles Acr 2QJ6. The thjea5 of the Charltable Comparby were ameTrded and adopted as the new objects on the 20 October 2016. Currentty the only Members of the Charitsb Company are the Tnjstees although the ArDdes ofA550ciation do provide for a wider rnembershlpwith the apprcval of the Tru51ee The board completed a governarKe revlew during 2019 using Chariry Gowrnanre Code for LaTBU Charities. The review resulted in klan thatWa5ad0pd bythe board. Asub-commrrree svucture Is In Pla to yjpport the broaderwork of the Trustees and the (K8anisation. intmtn of Tvustee5 As set (Krt in the Artides of A550CWtion the Board of Trustees nxtst tomkyise at least three and not more than twelve individual& Local Authoflty Persons shall be entsEled to appty to be a Trustee inthe eventof a vacancy on the Board, however they shall not have an automatic rightto be appointed as a TnTr5tee. Onethird o the appornted TrL4Stees must atthe Annu41 Gerral Meetin8 IAGMI butshall eli8ible for re-appointment, tknse kngest in gffice resigning firsL Tru5¢ee In19Th andTTaini There is an inforrn31 irbductioA prlxess for new Trustees. eath one meeting vnth the thair of the Board pricf to attending their first Ml board rneetin& ce$ ofthe Charitable Comparfs Memorandum and le$OfA$S0ClatrOn and business plan are made available to the new Trustee. Ouring the first Board meeting the rEw Trustee will meet key employees and the other Trustees. Trustees are also provided wth a copy of the Charrty Commisyon publication CC3 The Essential Trustee". Further trydirning Opp)rtunit$ a also identified throughout the ar and v3riws trustees will attend seminars providing feedback at relevant board moetirq&
Abbeycroft. L'eisure TRUSTeES' ANNUAL REPORT for the year ended 31 March 2023 anlsatlon The 8oardofTrustees administerthe Chr(able Company.The Boèrd mÈetsatlea5tfourtimesaye2rfora full B03rd rneeting. Followrn8 the develowent of new strategic plan and the gcréemance review three new standing wb40mmittees were establlshed in the area5 of Finance & 8usine5s De¥eJcffjment. Or83ni5ational Oeveloprnent and Marketing & Operations. New IOJ terms of reference were developed'for each committee with the Organisational De¥ebpment"Coinrnitiee' tsking on -klr r7J A responsibility for'SaFeguardiNa. In. addition to thts the organisation's'Health anci"Safety'Ccimrnitteè indude5 tnistee repre5entstion. The Trustees apwTht the Chief Execub¥e tt> manage the day-tD44¥ operations of the Chantable Cornp3ny. T(F fa¢irte effectNe operations, the Chief ExecutNe has delegated'authorlty for operational matters induding finance, employment. and daytoday.rnanagernentthe orgary5atlon wthsupp(rtfrr)rn a seniorlÈadershipteam including a Finance Diréctor, two Oevèloprnent Oyectors and a strateC Director. The Board 15 responsible for tho employrnent and terms and ** conditions of the Chief Executive and 8eneral pay and remLrntratr+)n terms ol all emplryees including the senior leadérship tsam. When setting pay. reference i5rn3de to salary sUpY51nd industry benchmark&- The Boar¢fs WOTk this area issupp¢rted bythe lJr8•nJytional Oevéfopment Ct)mtiilttee that focuses on.. terms & conditions pen$ons pay and benefits advising on the development of an effective #aff struclwe emF4oyment prattkes. Responsibility for recruitment and payfor cpeFationaland man3gerrnt staff dde8ated to tl Chief Exe¢utsve. Disabled Persons The CharitableCobwanywtllemploydsed peTthen theyare suita1efor a particularvarancyand èvèryeffortis made to ensure that they are given lull 3nd fair consideTrtion Wh gJth vacancies arise. AbbÈstroft Leiwrè is commrtted to becomin8 a Disability Confrd¢ni Employer. Grou The tharitable Company set up Abwoft Enterprises tirited on 30 January 2017. This is z private cornpany lirnited by shares. of which the Charitable Company owTrs 100%. Abbrytroft Enterprises Llmr¢ed be8an operations on the 4 Akyil 2017 and primarily operates the ¢aterM faalities bn the i£i5ure Centres culed by Abbr0ft Leisure. Thls trading subsidiary gift aid5 all taxable profftstoAbbty¢roft Lei5U Related Part$ West Suffdk Countil aNJ Babergh tstrirtCourtil are sSgnlftant p¥tr*rs and contrIbUt0 the delivery of sportinEfadlltles in West suffolk and Babergh by prowdine fvndirgto the Charitsble Comp3rry In the form ofa management fee. Thisfunding also supports the work of the Charrtable Company In the mmmuniry by regdents to take part in sporting events outside of the Leisure Centres. Both C¢yJnci15 womote the Charitable CompanTr/5 acti¥e$ by aLfverti%n8 the Leisure Centres and attivitles on ihelrwebslte and withln other (fomotional material. A sumrnaryof tran5actionswth these Councils 15 set out In note threeto the Financial Statement&
Abbeycroft.Leisure TRusfEES' ANNUAL REPORT for the year ended 31 March 2023 Objèctives and Artivities The objeLts of the Charitable COMnyre.. to prode or asstst In the faolibes in ihe iDterests of sorial wdfare for recreation or other leisure tirTi occupatron of indimduas availatrle to the rlublic at large. save for speaa lI1¢¢e5 being provKled for those whij have need of such by rea50n of their 7fftfth, ag& infiimity disabitstyi pQrty, or soclal CIrM5n¢es with the object of imprown8 their cond¥lions of lrfe- andlor to promote CMunity parknopalion in hezlthy fecreational activ(tses and understandinc of the berefrts of healthy active lifeswe, by the provtsion of facilities for the playing of runnin& rycfing and walking. to provbde Dra$t In the prowsl(In of communityf3oiifiesto be avallable to all sectlonsof the crynmunity without dtst¢nction. inCdIre usefor meeting5. lectures. and da55e5 d/or othErforms of 3110n and lefjsuretime otiupation with the Obje of irnprDvin# the iondilionsof life for all those who use ttrE facilities: andlor to promotethe education of pu15 or students in sthools or establishments forfvrther or h6Ehereducation byt provislon or assillance In the wovision of faciTrries for physical education and development. induding games or sports equipmen( courses. lecture5. dernonstratJn5. and eoa¢hln& andlLY io pfomote the educatlon of the puwic through the prow&on of flrItIeS for performing arts- andlor to advarte the education of the public thro the preseNation of buildings orsites of historic or arthitectural lrnportance; and/or pursue suth othEr charitable purposes as tPoTrustees in thelr absolute dis¢relIt shall determine. ln deliwing these objecri¥es ond developing actiwties fu the forthcoming year the Trustee5 have considered the Charity Commisslon Buldance on public benefit and fee charwn& Abbycroft Leisure relies on a m3na8ernent fee and the incorne generated frorn fees and charge5 tocover its operatingcost5. In Setting the level of fees and chary5 and tOt$S1On5 forthe activbties on offerthe Charitable Cornpanytonsiders accewbility to the faolities and athwkn.es forthose on low income& The maln actNities for the year are the promotion of health wellbne IlwouEh the provision of educarion. trzinlng and support aswell as encouraglre sodal InterlOn within thecommunity. The rnlssion and core values for iheiKgani5ation *re updated h 2022 FunrangzlonyKIE our2019 5-YearlateSY and these are- Purpuse To help people Be Heathy, li%E Longer, Ha¥t Fun PEOPLE ImpronE quality and outcomes tPmuEh colloraWon HEALTH & WELLBEING Central lo OurCmunitIes. health and wellbping FAaLITIE5 & SERVI5 WJdenin8 participation with i81n[on and energy Values Integrity Inesty. no dtern•tiwE agenda Pride We erKourage belief and celeLYzteachie¥emenl
Abbeycroft Lèisure TRUSTEES, ANNUAL REPORT for the year ended 31 Marth 2023 Commurxty Everyone lsimportar7t, vryne ts In¥ited. Teamwork We supp)rteach other fLwa biB8er gUtcc•ni The key att1onsemoYed to 8thtthe Charitrble Cornpanys otyectives zre to.. deliver high quality leisurefaaliknes and prn7de cu5tomtt5Wtih tsilored expert adwceat an affordable price. create opponunliiesfor peOe to take part in sport and leisure actNities n groupsto enhan general wellbein& encouwe support and Mendshlp and £atr a sense tif belongingfor members of trcomMunIty. create and manaKe relationship5with key partners and 5takeholdusto ensure thatthe Charftable Cwnpany15 aware of and can contribuTr to releVt inits"atives tsknng piaceelsewhere in thetonwnunlty. work in partnershipsthatadd value to the organisation and irnprove theSeS alable to communlty, or8ani5e and engage in k(al. rEgIal. and national INtiaii"¥es tofvrtherenhance ihe opporwnitva5 avaiiableto partiapate in sportand physrcal actsvity. ensure that the fatiliti and actithe5 on offware acce5St4eto all sections dthe eommuNty. ertsure contnuous Impro¥ementis achie4ed thrw8hout theorganisatio AbWcroft LeiyJre OlrS several competitive membership packaeesto customers of the leisurefaolities. tompri5ing atcess to fitness Studios. swmrniTrg pod4 and exercisedass pr¢wnme& ConiessioThary ratesfor studEnts. senior citiiens. people with disaknllties. the unemployed and peoF4e on IowincLThe. There is a wde range of pay and play tltIeS èteath Centre as well a$ weekly5e55KJnS run e5pec1a1tyfort o¥Yrfift4 adults wrth disatxlibes. andchddien. The organisatSon also promdes faaltt5 foroutiknr 5Frfxts yjch as football and hockeyenablirq clubs to traln and compete in local leagues throughouithe seasmTheCharitable Companyworksin partnershipwith severa15takeholderstooff+rthese opportunities. The ActNe Cornmunities and Explore CJttJ¢xtrteams ¢XEaThse a i¥lde range of outreath XI(tIeS so that those (mUnItieS who have dlfficulty acces51ng lelsure facrfities based in the main 5ettfements still get the OPPDrturAtyto engage In sport and physltal aCtlt$. The tÈ3ms also atcess several local, crwnty. ryional and nloal In1rfth5to ralse thè proflleof physlcal attivity ofter more opwtunityfor parbLipaJcffl thIn the local communtty. Employment and Engagement Abbeycroft prwde5 workfor lttal people arJoss a range of sites and aclivTties and the orBani5ation u5e5 5e¥er•l media to en8a8e with it5 employeesindudin8 irOUc$,Cetolace meetings. bfiefitt8> The Welcome tOAbbroftdoCUrnent has been updates this year. Turnfftr bas remained hi8h ptst-pandemt¢ but settled to tndustry average Ipre-vdndemlcl by the end of the year. Whilst labwr market conditions have been thalleIng it has also bro about an OPFQrtunity to zttratt and dEvdop ernployees from drfFerent sectors. whKh brings new Ideas approa¢he& To aid the organisation has invested in training across the board with qualifications 3vailak4e- induding providing free lifeguardin& swim teach¢ThE and a wde range of specialist qualifications tts SUPPOrt the e4Ef-gmTh8 heth and wellbn8 v40rk Much of thvs trainirÉ wa5 funded by partnership funding Ivia ActNe ffolk). The workforce continue5 to have acre55 to our f¥ulitiÈS, an empbyee assistsnce Bne, GP Advice. alCe. and resources Including mentd health support. In additiontothisthere i5also thecpportunityto acce55 dis¢•untsat majorr•tsiler$thiou8h a rewards portsl.
Abbeycroft Leisure TRUSTEES, ANNUAL REPORT for the year enéed 31 March 2023 STIIATEGIC REPORT Health •nd WellbélnR Inte ated Health & Leisure Pathwa ramrne We were originally ¢ommissioNed by West &rffolk NHS Foundation Trnst IWW) in 2021. because of our partnership with West Suffdk Countd, to initially prowde three integrated health & leisure pathways- orthopedics exerose on referral. frailty Strength and balance, and resplratory. breathe better. The airn olthe programrne was for teams acTOS5 West Suffolkto work in partnership. and to embed phy%cal acti¥ity into patient pathwa, whith has been a¢h¥eved By providint a pethway forSndividu8ls from acute and medicalised intervention. manywith tem health conditions. to embed Sustnable level of physical activity. patients continue to rererve suppcrt to rEm&n adtve ontrthey no longer need to remain under the ac Care ofthe NHS. The progranwne has coffjinued to develop this year v•ith increasng NHS co-location in our sites and hubs. with further classe5 for Long Cowd and Macrni113n Male Cancersupport Se5510r bel added tts our prograrnme. The scheme has n¢)w received over 25 referrals from a wde range of pamers a(voss the system including the West Suffolk Foundation Trust. the Integrated ne¢hborhood Teams 500al prescribers aTrJ PCNS. CornmuThty Health Teams and Allied Health Professional& 3050 aient referra15. Wlth 70% Starting an èctswty. &xty-one percent Participant'5 wellbeing score improved over 12 week5. 23,132 Attendan$ Fifty percellt Impr04fement in artt¥ityleve15 Sixty-six pertrnl Still xtive after 12 weeks Activlty Levejsrnoved from Low to Moderare Cornmunlty Pro4warnme5 A increasingly wide range of cThmmunity wwarrvnes theloped Wh1 are iknailed Tn Abbeyuofys Impaa Report 2022-23. These indje. Together Tuesdays-dementla gjport prceramme has retuned poll-pandemi Sporting Memories- 3 new proieu for Abbeycroft maknng connection5 and rneeting others in a soti31 environmeN. phyY(al artivity and a shared interest in sport underpiniin these popvlarsessions in Sudbwy aThJ Mildenhall NHS Health Checks in cornmunty settings- 327 defwered by up5killed staff Attive Mums- 5UPPOrted 71 newmothers through th.er ants"_natal period, a partnÈrshlpwith local midwrfery teams. ca Home5 Falls Prevention- a pilot initiabve fvrtd for 3 months to bri18stn8th d balance ¥trwtles ot those In care homes. 417 people atteDtled over 3 months and the S1Cess of the project has led to turther delivery into 2023-2024 Teen Chrll ha5 retumed in Brandon and NenarkAL a popular eveni actmtytryour people to rnee¢ safely together and eage In fun. sport and actmty tether in a leisure eniironrrient - 94 young Pe attending. Forest Schods and Outd¢x)r Adventure Day5- 760 se&sionswith pla fty4900¢hildien Family Park Cooking- S8.5 melas PToMded to date thrOh this incredibty popurnr iniitativcthattackje5food PDverty. isoolatron, inartivity and suport5 those in finaKi4 hardship- 1200famllies Reducin8 IsoL7tion with fothJ- 11,5tXJ melas delivered to date12020- 20231 Big Sport- acbvrty those whtspe¢ial need5, that ts¢kles inequalifie5, delwered wlhi Insplre S131 Care Ser%iices, a popular Friilay morring e¥ent at Bury Leisure Cent Stand Tall'- programme deNEloped with Suffc4k Mind forteenagers iht anxydty and mental helath c(inthtions- providing suport, resourtes and acti to build resliee and thitrwellbeing-91 young People attentled Womens Tovr of Britain
Abbeycroft Leisu re TRUSTEES, ANNUAL REPORT for the year ended 31 March 2023 This list 15 not cornprehen5ive and more infiomton15 available on the Mebstte ww.adwurLccm and in thè Annual Impxt ReporL whith also IndudescustomertesDrnthal& Organtsatfonalstrate The Impact ofthe (OnaTS pandemic arnl other macro knl chalenges ha5 forced the pU1C leisvre settorto re-. examine its purpose and Is aimingto delivEr. Thi5 ha5 also ledto a rEport bysport EnBland:Future IPubliC Sedor Lelsure-" September 2022.. Ills model seestrd(Stional leisure Sew¥i$ transition to being focused on active wÈllbeing. It would create a closer relaOnShip bets¥een 1th and leisur< bulon SOCFal wescribrK ctr Iation of 5ervKes and t dellvery of preventawve acuvlty opportunttie5 pio¥iding ws with convenient Pla and ways to be xtNe. Abbeycroft Leisure ha5 Engaged in broadw5VStem wothn# and have IRen comMiOned/funded to wovlde serwce5 that addres5 key issues such as phygcal and mentsl health. loneline553nd isolation, food werty and antl-soclal behavlour. The oroanisation intends to continue todevelop tFtse areas and where apprtrpriate ensure that the leisure facllr(ies are at heartof the approach. however this will not the organi5ation will not reath Into tl ¢ommunltywhere this ts needed. Our approach Icok5 to Fotion At&ycroft as aD'•nchcr institution. brinynetocethera range of commissioners and partners to reach different audietKe4 improve community outcorne5 and ma¥Amise funthng streams, thè latterbeln8 p¥ticulwtylmwtantgiven the prvasureson fdIn& Abbeycrofttodav A Leisure operntor. known for0fferl'. FitTress and focused on Faolity Operations OpErationally Focused L•sure Centre OperaiinB Faollues Focus Dn Prov(slon Commercial Operaiion Focus on Prc(e55 Selling a pr0dlrIse(e AbbeyuDft iornorrow Customer (lentsted Centre of the Community Encoura8ing gehav70w Change- FLfU5 on Feefire Wel Social Objective Focus on ftemowng 8ak7iers Investment In Health New Brand Strate8Y Brand Strntegy Ratherthan a vision artd mlssionthe or8anLWI"on isset to adopt a ne4'puipose'aloryide some key behavlours that wi fvrther infom) the orgasatIonS thvdopment: Purpose Be Healthy, Live Lcffiger and Have Fun Value5 The existing valuesof the organisation hwe also been mitwed and vthilstthey havest•fftd the sarm, they have been redefined to deliver our new braTrJ. A newwsual Identity 15 ojrrenty beih£ waluatl wth en8 f)tOmerS aryl non- user5 and On finali5ed will 5nvc4ve a ¢han8e of logo and Stralne along9de a than8e imagerythat will be launched in Juty 2023.
Abbeycroft Lelsure
TRUEE5, ANNUAL REPORT
for the year ended 31 March 2023
Health & wellbeing partner woa¢tively pr¢tin8 bthaviow than¥e. focused on prth"n8 rnn8e of community adivlties &
8reat experiences.
A statistically sound. comprehensive, and quafitative researth pro8r¥nme took place in 2022 whith wll inforrn future
Servi pro¥ision and organi5alion strategy and brand. Cu51omers, non
Abbeycroft Leisure TRUSTEES, ANNUAL REPORT for the year ended 31 March 2023 Partners Abbeycroft Lelsureworks with a range of rter5 who pthide fantastic support frrthe Iratiatives provlded. These IncIJe. but arè not limited to: West Suffolk Mid Councll .Workiiig Together "Flllied NHS Wést Suffdk '.SUFFOIK Suffolk Courrty C1¢•1 trIAVERHILL BRANDON covT< Nèwmarket ' Town Counal WEST SUFFOLK= ALLIANCE= Fiiture Plans The organisation will continue to rEmain focused on the financial performance of the orronisation to ensre the efflclent managefnent of resources over the next 12 rnonths. Whilst income and footfall is dose to or above we-pandemlc levels further challerges remain due tothe signifKant inuease in [Ir[leS. wCh Impact on ihe operation of swSmmlng pools particular. alon8de inllationary cost pressUrtsMe tharthe orronisati"onwll rEed to maxlmise Income generatlng opportunfcie5 whslst continue tocontrol costs. This will need to be balanced by ensuring that the organisatK)n continuesto enttyJrage use of its servlces by managlng Pr1 increases sensrtivdy and remOnE barrier5 to access1 semces W+e at all pos5tble. These Issues wlll need to be worked through wilh Ictal authcity Partnus and It Ispleasing io Thoie thètat the time of wrltiTrg ihe report that fo swimminB poo15 have been Su$$fUl in securingfuxdirylrom the govwnmentsswmmirg Pwl Supy)rt Fund and both local authorities Offeri differentsupport mechzniynsto ensure 5eThice5 meetthe needsto their respective communitiÈs. In additlon to ihe above the orgarMSèti¢)n ¥AII cMUnue toDrkwith a bruader range of partnersto dIVerfy incclne streams, maxlm15e econornies of scaleand create better outcomes for individuals, health and wellbeing. The breadth of serv1 prOded have grown si8nffKantly arKlthere are further opportunities in the forthcomir¥year to continue this approach. li
Abbeycroft Leisure TRUStEES' ANNUAL REPORT for the year ended 31 March 2023 Glven the shrft to a broader range of health and wellbein8 services and the apsyoach to VrkIng in the 5y5tem. as mentioned in lastyearfs report. the LganiSatiOn has deloped a newbrand on the bxk of 5ignthc¥nt research. The forthcoming year will start to See this rolled out wtth a minor thange in name It removal of theword leisurel. This will be aligned with different produtts aThl SeThrs alongside ottw YftpreMents tha focus on ensuring that thtyaliKD with our new purpo3e- Be Healthier, Live L¢Jnger and H25t n. The work outlrned above is also creatine a platfomi f¢xdifferefttiating tts Trncomegeneratirg products and Services from ompetition by maKimi%ng the unique dements of public sector leF5vre promsion. en5uringthat 2 more Suttainable long temi bune$S model emerges. 15 particularfy impwtsntgiven the intreased levels of cOMrtion emerging. The combination of work above has brought about a muth-lmpred perfonnance in the currentyear and It is anticipated that this positive trend will continue bnto the forthcomi year. Flnancl•l Re¥lew Abbeycroft Lesure's overall inctme atgroup levd is £11.232379 which includes £638.546 for gtst0 be used for a rest¥icted purpose compared to £9,092,644 for 2021n2 which included £438.805 for restritted grants in the previous year. Vnrestrirted in¢ome refefs to irtctsme from our customersfrom OPTating Leisure Centresfor recreation inEluding incorne frtyn memberships, swimmin& other sportin& recreational and deVelOent acliwties and inccrne from Westsuffolk ouncil and 8aber£h DirtrictCounci7 under management agieements. Tota expenditure for the year was £11,690,390 leavi u5 with net expendture for the year of £458,011 {202V22.' net expenditure of £518,() and a net movement in funds of E2.646.990 for the year after actuarial surplus of £3.105.CM)112021122'. surplus of £1037,936 after an attuarial surplus of £2.626.[lI. The uThre5trKted activities for 202V23 show int¢)meof £10,593,833 representin¥an increase of 22% 4ainstthe wior year 1202U22 E8,653,8391 with expenditure of £10.992,013 representin8 a 19% increase on the prior year1202V22 E9,247,0441, leavlng Uswith a net un$tried expenditwe of £398.IW. This expenthture does not Indudethe actuarial pension gain of £3.105.001 anLI when this 15 considered. weare leftwth a net opwatirtg unstrICted income of £2,787.B21. The level of uThrestricte(I funds at eroup level induded wrthin the Financitj ststanwts the year ended 31 March 2023 is É1.052,13712021122-. deficit of £L73S.6871. These fyures ijUde the Pension Reserve of £O1202V22'. pension defitit EI.793.0001. Pension deficits do not imparton the level of cash alIable forthe charItaeGrOup to spené in the short term. Abbeycrofys restricted funds received income within the1 of £638.54612021122: £438A051 Irty funders vlith expenditu 01 £698.3771202V22.. £433.6041 leanE a defitil of £59.8311202V22.. £5.2011. Thetotal restricted funds as at the end of 2022123 is a surphths of £51,6731202V22: E19L5041 as sh¢)wn in Note 22. Management COUnt$ are proded monthlyfor5eni¢ Maeementto suutinise aAd ion. Tr Charilable Group's rinarscial performance is aso Condered by the Finance and Business b-c(nrnIttee and at eath Trustee board meetine and typic&ly includes.. a comparison of budeet to actu f4ures an explanation ofvariarKes between ftreca5ts and TAkt XtUal happened. details of bank balances cashflow fore¢asL Thè Charitable Companws Finaft and Business DeOent$vb-cornnttee'S obiectsves fotus on areas tOSLbPPOrt the flnanazl performance and 8rthvth of th? Lyganisation. Goir8 forward. manaymettt, SUppted by the Trnstees Clmttirtue to strive to Thpro the quality of the Charitable Companws services- challenge and improvevalue for morw. build on current partnership5- exceEd Pre-covid levels of activity. seek out new opprrtunitie5 in the area of health and well4jei and intre3se the nvmberof people Pa£1PaI1nS in physical activity and health to irnpm%* theirquality of life all of which support linancial su5tainability- 12
Abbeycroft Leisure TRusfEES' ANNUAL REPORT for the year ended 31 March 2023 OurstrdteBV 15.. to grow income beYd pre-covid le¥Els to prthride leisureservi$ to thecofftmunity•nd¥rowth In Health arjd Wellbein8 seNees.'We will fo¢iJs on wovidin8 iood quality serwees. IhroLEh improvements in avallability and choicè with more relevaKe to ourc1lstcrfne WevAII coritinuetoseek opporbJnities Whewie Can. particularty In 8rowinE (>ur heath d Wl-nE SoThiS. Continvation ofcost control measure5 and in85.TVhtfinIn0a1 ¢trols TAIII remaln in p(¥e with cash flow management and forecastlng rémainin83 ktyfUS and wiow. Coritynue to prtsactivety source and apply availaFAe fvndin¥ sources the or83rs3tioTh isellgie for. 7liswIII increase the levd of income to ast in Th@ating the fixed arid vemLab1e cost The chariV$tholty owned sul>g"di¥y, Ai4Jeyrroft Ert¥prises iimited.fommonced tr•Jin2 on 4April 2017 and yfterated profit of £161,860 lor 202212312021n21055 of £128.7741. As much as possibte wiTr be grfted to Abbeyuoft Leigjre to assist the ¢harity in meetiry its objerbves. Due tothe Impxt of Cwd on prioryear reserves andthe current costof livlr and energycri5is Abbeycrotrs cash reserves are le55 than the desireé reseNe levds as setout in the resÉYves 41. However. the Abbeycroft Group has been able to maintain ad4qu• cash levels to meet li3bifities as they become due and is expected w wntinue todo $0 for the foresee2e ftrture (to March 20251. Abb•Nofti5 thweforemeetinKgcAng conrn requirements. Considering. the current reseryes posf(ion. togetherwith the impact e>istinB financial FerfCrnance,fOastS forthe future, cash fiowfiYe¢asts. the main risks facirelhe cryanisation and onEoir£ financial support for 2U23ft4from West Suffolk Counthl and Babergh Distrirtcouncl. the trustees have a reasonable expertation that. there are uncertainDes caused bythe cost of livÉng and enereycrisis. Abroft will continue as 3 gn& conrn. Foretast Budgets indLKle inflaticffiary irKreases atcurnent levels In rosts for supleS seNces. Ajlowances have been rnade fcrf increases to wages. uIAities costs have been induded iontrKtsd levels orcurrent forecasts. sens1vIry anatysis ha5 been carried out The fortlrnmir8 year is slill rE&"ant West Suffc4kCoundl provldlng extraordinary ubllty SUPPOrt in the shortterm. FUrtr explanation is prOded on pap 25wwtt¥nthe En%COnCern accounllTrg po]Icy. The pri(Ène pob.ry refletts our stratyto enable all pewlewtthln the local communityto access our fxilities and Servi5. The Board introduced a ¢oncessionary pricrng pdicy in 2(1)7 which wa5 re¥iewerJ in Marth 2021 which remains largely Unchanged and is Still in operation. C£>ncesslonary prfces are available for a broad range of products including mernberships and pay and play activiltes. Coe$S1Onary wices are also made a¥allable for outreach acthlty althouRh the ma(n akn of these activite5 15 to improye acce553nd therefore aclfvltie5 areEenEr311yfree or 3ta ncrninal charEe. Prlncl l Ri5k5 The Trustees have a rlsk Manernent strategyttrknth ¢¢mwses: An annual revlew of the prrncipal risks and uThcert3inties that the CharÈtrdble Company ènd its sub&diaryfa¢es. establlslnR sysrerns aTrJ proceduresto Mgate the ri5k5 identified in ihe annual rewew, imF4w¢enfjng procedure5 desiered to mlnimlse arry potenual impart on the Charlt3ble CompaDy 5hDuld those risks rnaterialise. and. prowding trainin8 opportunit$ fcrTru5tees Staff. DurlnE the course ol thls year. In response to tr ong(4ng of of 114lng and energy crlsls. key r15k5 to the organisation have been cryb5idered byTrustee5 a m¢re fre4Utnt ba51S.
Abbeycroft Leisure TRUSTEES. ANNUAL REPORT for the year ended 31 March 2023 The iable below 5ummarise5 the key wi5k implicatbon5 of the cost of knng and enprgy 1$. and these link to the core prlndpal rlsks that remaln In place. Risk Caregory Liquidity Risk Descnptk)n Si2nLfitanVy reduced tradint and periods of Ic£kdown ryler the pandemic have znifantlY reduced the organisètiorf5 availablE cash balance This cijnbined with the t05t ttf Irn8 erisis and the potential impact on the organisation's key in£ce streams of swimminEantl mernbw5hip and theenergycri%s and privOlalIty for gas Hnpact the orBarHsation's ats.lity to tr#)Id suffitient C3sh re5er¥Es to meet it5 oblwations3nd threaten onwng viability. Relevant Principal Risk Liquidity & Fundin8 Funding streans, business reu5very fina1 suppul from Local Authority partners and national governing trx)dies, tether wlth new health income stream5 are p05itNdy impactinB on the orgarbisaiion enabling it to rneer its OblallOnS and secure wgoing vabIlity. scuSonS the Lrfal Aullhjrltles abwt extyaordinary Lnility suppon for rhe comlnR ar i5on4otnL Utility Supply & Price Volarlllty Rlsk'marntsined at hiÈh levds. The"oppOrtunY to apY to the Natlonal 5wimmlr% Pool Support Fund has helped to mitiEate the rfsksandAbbe¥troft has Len ableto Secure rates iTrthe5hortterrn. Abbeyuoft Is In continuous dlaloeue vath brokers to develop. medium and loNd term strate es. Our bu%ness is dependent on a range of stakeholder rdation5.' the most sienlfiont being our local Authottty Ptners. The continued financlal suppNt of our L¢)cal AuthorFty Partners critical to the performaKe ofour operatlons. An Inability to furthef develop and 5CeSsfUl impkntnt the rewsed 5trate8yto secvre finarKial byabtlity of Abbeycroll Local Authortty Contrattsl Partnershlps and inve5trnents Strategy r&èlignrnent Stakeholderl Council Relations Multiple risk implications Abbeyudt Leisure has implementrd year two of rewsed strategy 15 Set to o beyond year three forecasts. An ina11 to rnaintain and grow memberships due to Ic<ai competition and new entrantsto the loeal ¥?a. Competitson/Market Share Mulliple risk implatiOnS Over 2022123 Abbeycroft has seen more com&tilion in two loration5 have impacwl recovery. The organisation. mitigatTron to tlis risk is via the rebalanced busi55 model. Lo55 of experience or key technical skills. recwitment costs and lead timeio recruit. Hieh Staff turrter Workforce. t21ent, cvlture and tapability Whilst the inherent risk hzs reduced dueto the imprOd entralised approach to rècnjitmentthe risk needs to crffltinue to be monttored dut to the labour market. Higher turnover in corporare arid management funuions rneantthatthe organs$atn has losr knowledge wfv.ch is impacts.ng on ser¥itÈ prowOn li some l(Kations. The competits.ve labour market remansand costof livin8 isa risk to Abbeycroft a5 a Natio minim Wage empl¢Er. Continuè ta monlror do$er. 14
Abbeycroft Leisure TRUSTEES. ANNUAL REPORT for the year ended 31 March 2023 Infom)ation r?chnolo. DItall53t1on and Oata Failure todevelopsystem5to meetoperationl and custornerneeds and del¥er tsnpble benefits to chan#e ts Tay the IMine55 operatesforthe better. TechnoloBY ar Information Securlty A review of key systems ha5 comrnenced and WIN be proKr¥sed overthe ¢omin8 12 months. Funds held as custodian trustees on behalf of other The Charitsble Company hcAd5 rK) fvDds as a Eudodon trustee of Dther ¢haiitie& ft thes however act as an aBenr holding fund5 beh41fon the Community leisure UKcharityto thevalue of £8.799. Pensioth Schem The CharitableCompanyadoptsthÈrequirementsofseditin28of FRS1O2.ErnOYee Benefft5 inrespertofits defined benefit pension5cheme as itcontinues to be p055ibletoidentifvthecharitsble Companrfsshareofthew5ion scheme administered bysuffolkctrvnty Council. The impact olthisstsndwd has ten refterted throu8hout thefinanoal statements. The yearsaw a duttIc In the defKit by £2.793,(XJ with the baance 5taThdin8 ai £Oas at 31 March 20231202112211£2.793.00011. InvestmeDt Powers ard Poli Underthe Memorandum and PxtKles¢AsSl1f1Onth¢ Owsi•bleQMmpanyhas the power toinvest inarrywaytheTrustees wish. The TrustÈes, having regard to the liqui&ity requirtrnents OF oper•tir£ the Leisure Centres and to the serVeS policy have ttpÈrated a policyol keeping •vadabk fund5 in eitheran intere5t-beariry<kposrt accountormore recently. on a c311 account nd seek to achieve 3 rate of interest which matches or ee$ inflation as meayjred by the retail wlces index. Surplus fund5 are Plac on 3 call account achi1 a¥ai]Ae intrrest rates. Reser Pol The BoaTd have established the of reseThr$1th3t 15 tlbjse funds that are freely 3valabfel requlred by the Charfttble Cornp¥ny. Re5er¥es are needed to cover UneXPted expenditure such a5 repairs to eqUIpentortO ccfflpensate for1055 of Inctyne shoukl the centres have to be dosed unexF£iedty. forexamrAe due to severe weather. loss of Frf)wer and albelt not predicted the impact of the Pandemit. Reserves are also bJilt up to replace k equipment for the fftness stut110 and IT equipment at regul¥ intÈrNa15 al to covèr any petential loss in value of th? asset form in whith the réseryes are held. Furthennore. Tru5tEes have considered Strat direaion and growth of the Charitable Cornpany and de5unated a reserve speoficallyforlnit1ativesthatgrowt Iw5inessarTrdfurthw the tharfbIe0b1erte5of Abbeycroft LeIsre lSrr4te81 Investment Fund). Pre-pandemio the TrUee5 were Satisfied wtih the polKy to maintsin. as a muimurn, fre2 rE5Erve5 equwalent to approxirnatEty 3 month5 of expenditure to 8row in Ilne with planned expenditure. H(wever, this policy rs one thar will need to be reviewed in light of the $TrifiCant reductknTh In Sncome Sir Manth 2020. At 31 March 2023. this target stood at £192159712020121: £2.420.1621. The pandem¢c had a severety negative impact AbbEytyotr5 reserves. In response tots¥5 thE Tru5t&s wEwed the level of reserve5 and resofved to transferfvnds from the StratlC Investment Reserve •tsts oserve to the+5eneral htnd, ol whlch notau of the fimds can readllybe conrted intD cash. The actualfree reserves at 31 Marth Z023wtre £231.10712022n3.. £43,672). The board acknok%lee thatfr& reserves are lowerthan the target level of re5er*5. The Ttee5w1ll aim to build reserye5 however this wll take a numberof years 8iven the continuing uncertainty with utilities. The boa-d VAII contirtue tv monitor income and expenditure levels to ensure long prwess towards thetaiget thl uffree reser%e
Abbeycroft Leisure TRuEES. ANNUAL REPORT for the year ended 31 March 2023 Trusteeg responsibilities ID relatlon to.the Financlal Statements TheTrustees Iwho are ajsothe dirertorsf¢thpwrposesof MpanY13w) areresponsibleforpreparingthe Trustees, Annual Report and the Hn•ntial Ststements in xcordance with app]icable law and United finBdorn Gerteralty Accepted Ac¢ounting Praclice. Cornpary law requires Trusieesto wep•re finanoa 5tatementsfr eath filwl81 ar whKh a twe and fair view of the state of the affairs of the Charitdble Company and of the irKorning TOUrceS a1 application of resources. induding the intome3nd expenditLre Dlthe Charitab((PavfQrthètperti)d. Inweparinethose finanaal statements, theTrustee53re required to.. Sdectsuitable accounting policies and then appty rhem consistentty. Obser¥?the methods and principles in the Charities SORP. Make judgementsand estimates that are reasonable and PDJdenL state whether aM)IKable UK Accoting Standards have been follod. subject to any fflatal departures disdosed and explalned In thefinancial stattrnents.. and Prepare the fift¥ial statements on the going concern basis unle55 it is inapproate tts pregjme that the ch•rity will continue its chariile activtttes. The Trustee5 are responsible for maintsinin8 proper accountin8 recor(ts that dix105e with re2sonaL4e xcuracy at ary time the finanaal position of the Charitable Company ènd enables them to ensure that the financial 5tstements cornply with the Cornpznie5Act 2006. TheTru5tees are abo responsible for5ale8uardirE the a55ets of the Chtae Company and fortaking reasonable steps forthe pre¥entionand deteaion offrnud and other irregularities. The Trustees are responsible for the maintenance integrity of the corporate ?rTrd financial infomiation inrluded on the company's website. Legislation in the Llnited Kingdom governing the preparation and di5serniD3tion of the finaThuèl statements and other informatim itt<luded In annual repts rnay differfrom legislign In otherlur1sdi¢tio. Statement asto disclosure of infomiation to Auditors In acCOrdae with ¢cwnpany law, as the companrfs Trustees. we cerbfv that.. so far we are aw¥e, there Js ry) relevant audft of W1ththe Charitabfe Cryn(s auditor5 are unaware; and AE the dlrectors of the Charitable Company we hwe taken all the steps that we ought to have taken In ordw to make ouisel¥es aware of any leVant audit Information and to establish ihai the Chars¢able COrnpaS auditwsare aware of that informatlon. AuditOTS The auditor. Price Bailey LLP. Chartered AcctyJntant& has indKated Its w15ngre tocontinue In offi. The Trustee< annuzl report has tn prepared inatt0rd•nwrth the sm•ll tornparyprsIonS and was apwoved by order of theTrustees3nd 4ned on its behalfby.. Davld Howdls FCCA Trusteè & Vice Char 2111112023 16
Abbeycroft Leisure INDEPENDENT AUDrroRS REPORTTO THE MEMBERS for the year ended 31 March 2023 Independtnt Audftorfs Repartto the Memkn 0fA&b•ft Leisurefor thy41 31 M•rth Z023 Opiniop . We have authted the finantial ststements of Abbtyudt Lelsure lthe'parent dwiitabiecomparfj and itssubstdÈary Abbeytroft Enterpfises Limited Ithe'groupj for the year ended 31 March 2023 whth tomprise the Group statement of Financial ArtN1ts, the Group and Parent CharItae Ct%mpany Balance Sht. the Grwp Cash Fltsw St3tement 8ndthe related notes. The finanual repxbn8 fr•rnework thathas been apled in their paratson is 3pplicabie law and United Kin8dc¥n Accwntin8 Standwds IUNted Kin8dom GenerallyAccepted Accountry Practiol IludIng FRS 102'.The Financial Reporting Standard applicable in the UK and RepuWt of Ireland-. In our oplnion the finarrial statements: give a true and fairwew of the 5t31e of the eroup'5 and parent tharitable ¢ompan¢s affairs as at 31 March 2023. and of its In¢¢)ming resowcesaThd appfication of res¢wrces, including tts frorne and expendrture, for the year then ended,. have been property wepared in attordarxewith United K4.nKd0mGerVY kQPted A£eounting Practite. and have en prepared zcctirdance with the requirements ofthe Companiespn 2OA. Bask for opinion We conducted our audit in accordarKe ImeMaD0 Srandards onAudrting IUK) IISAS ILIKII and applicabte law. Our ponsibilities underthose standards are funher dexribed In Audltorfs resportsibilities for the avdlt of the finanual 5tatementssectton of our reprrt. We are indepentsni of the chtable cNnpany In acc(&rdarKewlth the ethlcal requiiemeTrts that are relevanttoour audtt of thefinarlal statements in the UL includ1 the FRfs Eihlcal Standard. an we havefuifilled our other ethKal respongbiliiies in ¥cordance Mth these requirernents. We believe th3tthe audit edee we have obtaned is gjfflclent and apwoprfate to pro¥le a basis forour ownion. Cornluslons relatln8 to gokng conwn In auditlng theflnancl statemwt4 wehave cortluded theTru5tee< use of the eoin8 cortern basisof a¢countin8 in the preparatiijn of the finartl statements is apwopriate. Based on thework we have ptrfDrmed.we have not Ide1 anymaterial unrtaintieS latingtDe¥ents orconditlon5 that. indiwduafiy or wlle£tivefy. maycast 4nfficant doubt on thègroup's or parent chafjtable ¢ompanVs ability to ontinue as a toing COJKern for & perioé of at leasttlve ThnthS from when the finanoal ststernents ore authori5edfor Issue. Our responsibilities and the respbIlItIeS of theTrustees with IespecttL)8OiT Cortem ¥e desuibed ID the reVant sections(5Fthis report Other ilrfoimaiion The trustees are responsible forthe other infarmation. The other infomiationtomwisesthe informatlon Iluded in the trustee5' annua report other than the financial 3tatementsand our authtorf5 report thereon. Our opinion on the ffinancsal ststemenrs does notC+)ver the other infonmation aThJ. exptto the extent otherwise eyplicitlystated in our report, we not expre55 ¥ny fwm ol Irance ¢ondu&oAther¢on. In conTrettion with OLLr audit of the fmancial ststementy our re5ponsibilityistoread the othef information and, rn ddng so, <¢fts(def whether the other inForni•iion is Mater1 irKonststent with ihe ffinan¢ial statements or our knole¢e ctained in the audr( or otherwiseappearsto be materialty rnisststed. If we identifysuch material inconsistencies or apparent materièl misstatements. we are required to detÈmiine whether there is a mai+thal misstatement in the financial staternents ora m?t¢rial mi5Statement of rheotheriTrfomiation. rf. based on the work we have perforrned. we ronclude that there is a material rnissratement ofthisotheriofornation, we ate requtyed to r¢S1hat f*. We have nthNn8to reptyt in thi5 re8ard. 17
Abb'eycroft Lelsure INDEPENDENT AUDITOR'S REPORT TO ThE MEMBERS for the year ended 31 March 2023 Opinion on other mters wescitsed bythe ComwiesArt 21 In our oplnlon based on thework undertakefi in tcowse of the atht.. the information £In in the Trustee< Annual AeporL Incorpwaiing ihe Dirett(S Report forthe financlal year fol which the finandal statements are prepared is CO5tentwith the finandal statements.. and The Dlrectorf Report hasbeen wepared in KCOrdan wth apWicat4e legal requirements. Mattew50n Tthii¢h weare fequlredto report by excwn In the li8h¢ of knowledge and understsnding of the¥roup and parent charitablecompany and its en¥5rTh)ment obtained irb the course of the a11, W have not Identified merial mi55tatements In rhe Trustees, Repwr. We have llothing to report in resOrt folowr8 maners in l3110n to wlith the CompaniesArt 21x16 requires us to report to you If. in ouropinion- adequate accounti records hwe not been kept bythE parEnt tharttable company, or returns adequate fty our audit have [t been reCepd from bonrFs not I45rted by us: (yr the parent charltable Ilnandal statements are In agreernentwith the arcounting records and return5-, Dr ertaln dx105ure5 ol trurtee< TnUrl0n speCid ty law are not made: or we have notiecehed all the Infomlatsn arwj expknaiionswe requtreftf our audit the trusteeswere not entitled io prepare the financial stements in accordante wththe 5rnall cornpanIe regine and take advantage ofthe small compan¢ exemptkins in preparingthe director< rep¢)rt and from the requirementto prepare 3 5trateEit pOrL Resp$1b]ut1es of trnste•s As explained me fully in the tnJstee5' responsibilities staternent In the Trustee< Report, theirustee5 (who are al the directois of the charttable cornpanyfor the purposes of company law) are responsibk f the preparation of the financial 5ratements and for teing satlsfied that they give a irue and fall vlew. and for such inlerna1 control as the trustees determine 15 nece5Saryto enable the prepar*ton of finanoal ststements that are free from matersal rnisxaiement. whethw due to fraud w erfor. In preparfrng the flnaKlal Aatements, the Trustees a YesnSIble for assesslnz the groUS a1 parent charltable ompanvs abllity to continue as a £olng COnrn. dlsclosing. as applicable. rnatrers relaied togoinKttsntern and uslng golng concern baS of accountlng unlessthe trustees eltherontend to 11qde thegrouporthe parentchzritable tompany or io ce35e operatlon5. or have no realislic alternati bur to do s
Abbeycroft Leisure INDEPENDENT AUDrroRS REPORT TO THE MEMBERS for the year ended 31 March 2023 Audltorfs responstblltles fortheaudltof the th4ndalstatwnents Our oLlecte5 are to obtsln reasonable a55urnrLe 3bDUtwltsthefinanaal StateThrt as a whole a free from material mi55tatement.whetherdueto fraud error, andto issue an autltorfswort that includes ouroplnlon. Re350nable a55ufdnce is a hh le1 of a55urance. kn is nota guarontee that an auditconducted in xcordance wth ISAS IUKI %ll always detett a material misstaterneniwhen it tsts. mi55taterrts can arise from fraud or vrror and are considered material if. indiwdually ty in the ageregate. theycould reasonably be expectedto infiuence the eCorle decisionsof u5er5tsken on the basis of these financial statements. Irregularities. induding fraud. are instances of non<ompharKe with law5 and reeylations. Wedesign procedures In line with tsur responsibilities. oudined above, tts detect rnater1 misstatements in respect of irreguiaribe5, includinEfr)ud. The extent to which our Pfweduies are capable of detectiryirregLlarits indud1 fraud 45detailed belov. We gaiThed an understandingof thelegaland regulatwyfrarnew0rkaplcaLrfet0the charitablec•mpanyandhowlt operates and considered the risk of the Krovp and the parem ch¥itable company not COMn8 Wtth t appllcable law5 and regulatlons includ%n8 fraud in partic¢Aar those that couk4 have a material Impart on the financial ststements. Thts included thgse Tegvlaiions diredly rdated to the finaniial statements. In Tel10n to the ¢rtyJp and the parent Charitoble ¢ompaTry this included employrnent Itw. financial reporllng and heath & safety. The risk5 were thscussed with the audit tearn and we maKd alert tts any indication5 of ntsn<ompliayKe throughout the udlt. We rarried out 5pecifir proceduresto addre55 the ri4ts identified these incIled the followng.. We remewed 5yStemsand ProdureS to identify pontIal eaS of rnana8Jn¢nt obtrride risk. In particular, we agreed the financial ststernts to undethrg records and we carried %xrt testing of journal entries a1 other adjustments for approFviate We reviewed accountin8 policies for e¥¢dentt of rnana8ement bias ar ensured that aLIUMng pdicies were rrecdy apI¢d tothe finanoal stemerrt5. We rewewed minute5 of Trustee Board Me18$ and é8reed the fiftarxial ststement disclosures to LmdedyiTrg supporting documentation. We ha¥e made enQne$ of manwent and offThsof the parentchaiitable mpanY re84rdinB laws and re8ulatlons applltabletoihe organlsaii"i)n. We rewowed the risk management protesses aTrJ procedures in place Incl11 a rthiew of the Board a$5UT3nce reporti. We have revie4pd arry cLyrw¥nden the Charlty commion ar re¥iewed the ProdUreS in place for the reportiNa of inciderts tDtheTrustee Board I[diserIOuS IIdentreporriTr8 of any such matters if [essary. Because of the inherent limitation5 ()f an audi¢there i8afkthatwewll not detectall srregularities. indudine those leadlng to a material misstatement in the fjnancial staternents or l-cOrnpIlanct LIatiOn. This risk irtcreases the more that cornpliance with a law or regulation is removed fromthe Events and tran5Ortiorts refiected inthe firICIal statements. as we wlll be less Irkdy to be¢thme aware Of insraKes Of nOn<offtpli¢e. The risk is also greatv reEardir¥ irre8vlaritie5 orcurrih8 due to fra9 rather than error, a5 fraud involves intentional con¢ealment fiyKery. CdIuOn. omission or misTrpresental¥on as to what extent the audlt w35 consideredcapalle of detecting lrre8ulart15, including fr4ud. A further description of IrrebIlItiesfOT the rt01 the finanoal staternents i51¢xated on the Financial Reportlng Counul's web51te at: ww1w.f.o.kIaudTIUrtsPOslbIl'tQ5. Thi5 dexriptionfornis part of our authtorfs report. We communkate wlth those chareed governarK¢ regardin& among other matters. the plinr*d 5rope and timin8of the audit and %gnificant audit finding4 induding any si8nfficant deffiuenaes in Intwnal control th•twe identify during our audit.
Abb.eycro.ft Leisure INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS for the year ended 31 March 2023 UsèofthtsHeptirt Thi5 repNtis made sdelyto tharttable companvs members. as a body. in accordance with Chapter 3 of Part 16 01 the Companiès Aet 2006. Our audtt wryk has been undertaken so that we might State to tharitabte companls members those matter5 we are reovired to rtate tothem In an auditorfs Foport and for no othEr purpose. To the fullest extent permitted by law, we do not accept or assurne responsitx&"tyto anyone otherthan the tharitable companyand the ch3rtrable cornpan*s rnernbers. for our audit worl for this report. orfor the opinions we have forrnèd. Helena Wilklnson15enlor5tatuwryAudltor) For and on behalf of PRICE BAILEY LLP Chartered AtcountantssMUtoryAudltors Tennyson House Cambridee Buslness Park Carnbridge CB4 OWZ Oate: 08 December 2023
Abbeycroft Leisure CONSOLIDATED STATEMENT OF FINANCIAL AcrivrrIES INCLUDJNG THE INCOME AND EXPENDITURE ACCOUNT for the year ended 31 March 2023 Note ROArtied UnrtSirkt•d Tal 2022 2023 InrornE fro t)onions. grants and leEacie5 Charitsble attl¢le5 Othertrading actitIeS Other Income 869,183 7.463,805 637.675 121.914 67 919.916 L042.286 25,116 9.519.946 L04U86 25,116 Total io 93,833 1i232379 9.092.644 EKpendwt on: Raising funds Charitable a¢tithties 1698377) 158.4211 110,933,592) P56 798) 1528.2971 (10?3359Z} 19,152,3511 Total .3rn 110.9910131 1119090) 19.68),6481 Netexpendtture TTonsfer5 between fund5 Actuariaf gain51110sse51 on defined benefrt pension 5cherne Net rnovement In funds {S9.8311 139&l&Jl 8LlXb) 1458.011} 1588,O)41 14 3.105.(KII 2.787.821 3.105WI 1646,990 2,626,000 2,037.996 OA31} ReconcIliknn Df fvnds Total lund5 brought lorward 504 11.735.6871 11.543.183) 13,581,179] rotsl fund5carried forw¥d 5L6n SL134 1.543.183 The nores on pages 25 to 49 form p3rtdtlu finar¥ia151atemerrt 21
Abbeycroft Lèisure BALANCE SHEErs for the year ended 31 March 2023 Group 2023 Group 2022 Chaity 2023 Charity 2022 Note rd Assets IntaThgible assets Tangfjb assets Inve5trnents 16 17 1,012.933 820.930 IOD 1,012,933 i( Total flxed 35set5 I13.641 8U,03Q 013,741 Current Assets Stock DebtDrs Cash at bank and in hand 240 483.741 2320250 8.292 406,797 1619250 8,954 470A33 091876 2.656 442.157 1285565 20 Total currerrt assets U.2L231 1034J39 1*30,379 abilities Credit(K5 falling due wirhin one year 21 11039,3 11798.1631 11.977.873) 11.748,7041 Wet a•rrent assets 701.881 236.176 594790 81,675 Totala55ets less 1.249.817 L415.820 1x195,415 Creditor$fallTng due after one year 1500JKXI) (500,IjOO} I.10311 9150 Defined benefit pension scheme 14 12,793.rMxJi I2.793.0) Total net •s%tslab1lI1its 1,103011 11541831 915 11,697,584)
Ab'beycroft Leisure BALANCE SHEETS for the year ended 31 March 2023 Group Group 2022 Charlty Charity 2022 Note The Iw)ds of the grouplcharlry: Restrkted fund5 Unrestricted fund5: General DÈ51gnatrd fund Slh74 192504 51.674 192,S04 9t12.137 7J13 150.C( 714046. oJ( 752,8lZ 150.100 1051137 7.313 912 Pension re5erye 12,793iixII 12,793,OCI)I Total unrestrlcted funds 11.735.687) 864.146 11,890,088) Total funds U0511 11543,1831
iSA20 IL697,$841 A separate Ststementol Financid ktivttie5 is not we5ented berause the Charity has tsken advantage ofthe exemptions afforded by5ethon 408 of the CornpaniesAct. The net expenditure for the Charity before xtuèrial Ilossesll¢ainsforthe yeor endinÉ 31 Marth 2023 %¥as a net def*itof£458.01112022: deficit of£58&C¥)41 Approved bythe Boarl on......-. ..-. .. and signed on behalf and authorised for issue by." Davld Hovdells FCCA Vice Chairof the 803rd of Trustees C(MPANY PIO. 05X17L119 CHAR¥ P40. 1117U8 The notes on p74es 25 to 49 form partofthese finarKial 5tstemtnts
Abb_eycroft Lelsure CONSOUDATED STATEMENT OF CASH FLOWS for the year ended 31 March 2023 Group 20ZJ GrDUP 2022 Note Net cash prwded by ¢perntyne acti¥tbes 28 336.750 927.637 Cash flows from TMIly •¢tiVTlies: Interest income Purchase of tangiblefixed a55etS Pr•ed5 on sale of tsngible fixed assets 67 {362,6421 1148.sioj 6.275 Net cash used in investing a£treS {135.7501 136257SI Cash Ilows from fm•cin£ xll¥illes: Lon8 term loan Change in cash cash eouivalents in the ytar 701.fAIO S6562 Cash and tssh egtsivalents bro forward 1.619,250 1.054,188 Cash and cash equivalents carried forward 2,320.250 1,619,250 Relatlnz to: Bank balances and short-terrn deposits induded tn £ash at bank and in hand 2.310.250 1.6L9,250 The notes on pa8e5 25 to 49 forrn part of th finarrfial thtement& 24
Abbeycroft Leisvre NOTES TO THE FINANCIAL STATEME$ for the year ended 31 March 2023 IJ Accouniln8 pothrits a. Ba5 olprepirntio The financial statements havÈ been ppared under the historic cosiconvention and in accord3rKe with AccoU1ftE and Rep)rtlne by Charities.. Ststement of Recommended Pratlice applicatde to tharits.es preparing their accounts in accordance with the Finar131 RertIngsnthrd apFlicable in the UK and Reputdic of Ireland IFR51021- IChar(tles SORP IFRS 10211. the Bnanoal RepoTtyn8 Standard apTeale in the UK aNI Aepublic of Ireland (FR5 102} and the Companies Act 2. Abbr0ft Lèisure is a Charitsble Company domiclled & rewtertd in Enoand. The prinopal accountln8 kW)licies adopted in the weparation of1 Statsments are setout below. Abbeycroft Lelsure meet5 the definhion of a put41ctenefftentityurNJer FRS102. Assets & llab1lles are InallY recognlsed at historic cosr ortransaction value lesS Otherwise stated in relviani ¥countMy pollcy ntste. b. (oncern In assessing the 1Th8 contern ba&5 of eparaTr of the ffinatttial statemÈnty the Trustees ha¥ considered fcre£a tashflows. Ilquidlty and buS1r acte$ o¥er the wlod to March 2025. Early IndiCaon5 regardlnE growth an(J finandal perforrnan ate positive for the ojrrent year and performance is on tratkto deliver betterthantheftrecasredFfofrt. Incorne. member5hiprecoveryandgrowthgasand electric usage. spend and the cash position fs being dosety rnonited and regularly reported to the Board key stakeholders. However, Abbeycroft Lelsur¥s b¢J51$ iematn55ensitiveto lool c(Anpetitth. growth oppw1Ities a1 ertÈrgy price5. The finan£ial rntwJellir& forthe pe¥iod Marth 2025 a55urnes: Ifadllties remain 0 fortheforeseeable future. Salaries and rjverhead cosr leve15 ¥e pjamed to remain * t1 bevels forxa5t indudi¥¥ increase5 for the National Mlnimum WaEe. Use ol longierm l0anfauffTn West&JffolkCoun(iland 8abergh Coumil t05UPPOrt reiovery ofwhiEh E5LlJk has been drawn down from Wt Suffdk. Repzymentterm53re belng met Essential extraordinary utilrtv 511PPQrt from West Suffolk Councll of E300kf 2023124 and 2024125 to provlde finantial assistance to mitgate ayinst risitKg energy costs and wpport the provlsli¥t of lasure seceS and swirnmir¥ ptt4s in West Suffdk. Condttionsof fuftding Is rnÈt. A net (ash oufflow of £286k. i5 forecast for the year to March 2025. gwing an intK¢pated cash balare of £1,162k at March 2025. The impart cif COVItN19 and oroine cost of li¥in¢ crlsls anrf challenees of the energy crlsls has made Abbeycrofvs relationships with its counct15 even e impwtani than Trjrmal. Trustees extrenty gratelul for the support and ltyalty Oven bythe councils we serve. Based on th* detailed farecasts the art satisfied that the financial staternerts Should be prepared on a Éoin concern bays. However. Ihere are uncertalntles wéthlft the forwasts that CEd rethjce cash balan and require slgnlficant mltsgation and actit)nwithin theor8anlsation tocontlnue a goir¥ concern. The uncertwnties are as folloyrfs.. Price volatiliry affettin8 the energy market and the rlsk (l cost of utlities In 2024125 beln8 greater than rnodelled in financial forecasts. Preswre on cosrs from rising inflaiion the xope for 51gnfficant COX5 Son8$ for the perlod to March 2025. Continued 8ro¥¥th in the'HÈalth' ser¥a Continued extra(ffdinaryutlityWPPOrt fr iAxa ALrthLYrtypartners. Further details ofthe or15?110.S tdansgoirq forward a ildj in the Report of thE Tnjsw, Future Plans.
Abbeycroft Leisure NOTES TO THE FINANCIAL sTATEmEs for the year ended 31 Marth 2023 c. Group FinaTheial stalements The consolidated finandal statements incorporate the ¥¢ounts of the Charitsbbe Company and thosè of its trddlng subsidi3ryAbber0ft Enterprises Limited the periodendEd 31 March 2023£ a Ine by11 ba$. The Charity has taken aJvantsEÈ of the Qxernpti(fr0rn dISdn¥thefllal1¢IftforMatiOn. as perniittedbythe reduted disclosure rewme wthin FRS 102=_ . Sedlort 7 Statement ofcash Flow<-Pre5entati¢)n of a 5tatementof Cash Flowand related notes and disdosure5 d. Inrorne Income from charltst4e activities is feco8nlsed as earrod {as the relad goods and Se5 ¥e prowdedl. Such income is only defèrred when: Customers payfor svMmmirKg lesson courses in ath4ance Df the course start date5. The management fee is received in èthance of the pwirA4 it lateS to. Performance rdated grants are rtiVed in ath4ance of the related conditions Ing satisfied. Customerspay forannual memberships in advan of ihe ytar terni. Income frorn other trading actviittes is recognised as earned las the related goods and servi¢e5 are provided). Investment Income consists of inteiest earned onlyand Isrecogned on a receivable basi5. Income from donion5 orgrants is recognised when there is eviden¢e of entitlement tothe 8if¢ receipt is probae. aTr its amount can be measured reliably. Abbeycroft Leisurt considers the5ubstance of ary condition$ attathingto donations or grants and to the subttance of any contraU31 tern when determining theirentitlementto incorne. Abbeycroft Lelsure identifies donations or yants that 3re subiett to terrns or perfomiance lated conditions or otr conditions that must be met before there is uncondibonal entleMent to the gifted resources. Where tefms and conditions have Th)t been met or uncertainty exrsts as to whether the Charitable Company can meet the terms or condiilons otherWe within trscontrol, the incorne is not reco8nised but deferred as a liabilityuntil it is probable thatthe terms or conditions imposed czn Ee met. Deferred income is rdeosed to income in the reporting period in which the performan¢e-related or other c¢xKJitions that limtt reew¥tion a meL GovernMent8rantsarprettened atthefairvalueofthe3uetrewvedorrettyvabJewhen there isreasonable assurance that thegrant COndlOn$ wll be met and the 8rantswiJ be recevrnl. . ExpendrlWe Allexpenditure r5accountedfcff on an accrualsbast5 and reco8ni5edwhen a liabih'ty 15 inrurred. Contr4rtL41 arrangements are recogni5ed as seNtes are wppled. Costs of raisin8 funds a those costs irthvred in 8enerotir* intcme and those incurred in twbng artNlties which raisefufids. Charir4ble actimties include expendrture associated wrth the runningtosts of the leiswe faci15ts.es and include both the dir&t Costs and support Costs l4rg tLI these artwitie> Support C05t5 indu& central fLFnctions and hwe teen directty allocated to activity cosl rats8ories where possible, otherwise t¥are allotsted based on the pertefttage OF tokl headcount or turnover represented by that activity in the Leisure Centres orother %tes. f. Irrtt¢vérnbleVAT All expenditure is da5sffied accordi to it5 VAT recUry pD5ition. IrrtcoraEIe VAT is charged to the Ststement of Financi Activities as it is incurred under a separate headin8.
Abbeycroft Leisure NOTES TO THE FIANCIAL sfATEMENTS for the year ended 31 March 2023 L•ases The Charitable Compartydasslfiesthe lease of certain equipmerrt as operatiw leases. ThÈtltte tothe equipment remains with the lessor and the equIent is replaced every>7 years whlst the econLYrti¢ life tsf such equipment is estimated to be 10 years. ReTrtal charges are charged on a str•ght line tbass over the twm of the lease. Where 3ssetsarefinancedbyleasiFyayeemefttsth3tEi¥ ihrs approXmatito0WrtershIp I'finance leases'l the asset5 are treatetl as if they had been purthased The amount"capltalised is the present value of the rnlnlmurn lease payments pay3ble durin8 thelease ternL The corresponding leanE crynrnitments are shown as obliEations tothe lessor. lease payments a treated as tonsistifte of cawtaF aftd Interest elemens and the interest is ch¥8ed to expeTrditwe In proporticn to the remaining bzlance outAaNling. h. Goodwlll P05iti¥e pwchased goodwll Is opltaltsed as asset on the balan sheet and amorti5ed. fjoodwill un acquisltion5 represents payments.made by the Chartiable Gnpany in anttdpallon of future econLrnic beneflt5 from a55ets that cannot be [dentsfd Indmdualtyand cat bp recLvanlsed separately. The arnofusatyonof goodwlll Is regardedas h3¥6n¥a useful ecrmomlcllfeand arnort15edm astraight line 3y5tematic basis as follows: The Self Centre 5 years l. TSIble & Intble fixedas%ets Individual fixed assets Costi QT more are capta11 at cost. Smaller (apital items may be aggrerdted and capltalised. Tanp'ble and intangiblefixed assets are deweciated or amoTtised on4 waht line basiso¥er their estimated useful lives as follows.. Leasehold imwovements Plant, furniturE ind offJceequ¥xne Sport5 equiprnent &33%-50% 14X- 33% 14%-51 14%- 33% j. StsKk Stock is induded at the lowerof cortornet realisab1eva1. k. Debto Trade other debt5 are recoRnlsed atthesetdement arnountthie after *y trade discount offered. Prepayments are valued at the arnount prepaid nei ofany trade diKounts . l. Intthents Investments relate tothe hddiT¥ c15hare Capit in fvknbeft Enterwises Lid which is recorded 4t c¢>sL m. Cash Cash at bank and cash in hand includes cash and short tem hiehty liquid irfftsbnents v•ith a thort maturity of three months less from date of acquisition oro¢EnlnKof the deposit or similar xcount 27
,Abbeycroft Léisure NOTES TO THE FINANCIAL STATEMENrs for the year ended 31 March 2023 .Creditors Creditots and proviOnS are reco8ni5ed 4¥therè the Charitable Comp•ny has a prÈsent otrli8ation resulting from z past event that wll PTobabty result in the transfer of funds to athird party and the amTrI due to settle the tsbli8atioN ¢¥n be measured or estimated reba14y. Creditor$ and rytWiSi•h$ I normally reco8nised at thr settlernent amount after allowirrf for any trade distouThtsdue_ o. Related party ¢on¢essknnary loarts Our accounting pdicyfor related PartyconcesonwY loans rnVOl rec¢yenising and measuring gjch transacknons at the exchan arnovnt,whith is agreed upon by tho transacting Part5. The disc105ure of related party contessionary loans 1$ made in the financial statements. pro¥itlinE detalstheterNsthat drffwfrom.those thatUl0 have been èyeed wlth an unrelated third partv. p. Nnah¢lal knstrubwrts The Charitable C¢xnpany only has finantial assets and ffinancial li3bTlities of a knnd that qualify as basic financial instruments. 835ic financ431 instruments are initialty recogni5ed at transaction Yalue and bSequenY measured at their settlernent value with the ey£eptiM of bank kn•Aswhh a>jb$eUentIY meastwed ataMti5ed cost usingthe effectib bntere5t method. q. FundsstHxturÈ The Ch4ritatrAe CompanVs dgnated fund5 are to purchase fixed a55ets f the Lo5ure Cent5 and other operational centres and for the furtherarte of Abbwoft Leisur¥s stratwc de¥elDpment and growth. DE5ignated fvnd5 are unrestrirted funds of the Charitable Company. A desgnated fund is used to separately identlfy the defined benefii pen0Th scheme balan. Donated assets ale valued at cost and deweclaied In Ilne with the Fdicy detalled In 5ethon I thrLwh a movanent In funds. Unrestricted funds are Rrants and other Income recavable or eenerared for the oblects ol Charitable Company wfjihouifurther 5pedfled purp05es and areavailolle as general fLmds. Restricted fund5 zre grants and othèr Income rettb[ orgenerated for specific ackn caffled wt by the Charitat4e Company. r. Ptn$lC tosfs The charlble Compary operate5 a defined conulburlon xherne. Penslon costs In respect of ihe defined contrIbUOn scheme are charged to the relewant expenditure headingwlthln the consolidated Statementof FlThancial ktr¥it5 In Ilne wlth the salaryc05rs dthe related employees. The Charitable Company particikmtes In the Suffolk County Coundl Penston Scheme. The scheme5 assets arE hdd separatety from the assets of the Charilable Company and are adrnini5tered by Iee5 mènaged pri)fe55ionallv. penDn costs are a55esSEd rn cOrdan with acluary and based on the most recent artuaflal valuatr'w5 of the schernes. These costs are accounted in accordan the requiremeftts of FRSIO2. A k'ability 15 re¢ogni5ed in the balance sheet in reSPECt ol the scheme whiih Tewesents the present valtse of the defined benefrtobligation ar the balan sheet date less rhe fair¥alue ofxherne assets. Afull valuation of the liaL¥lity 15caliulated byan independent actuaryeverythree yearsand updated on an annual basis using the prOJeed unit credit meth. The present value of the defined benefit oblign is determIrd ty (%scountI the estimated future cash outnows using Interest rates of high-quality corpora* bondsthat adenomInated in the arnCy in which the b2nefits will be paid and that have terms to maturity apwoximating to the terms of the related pension liability- Actstarial gains and 1055es are re(nISed in the Ststement of FiTranaal Activities in the year that they ari5e.togetlw with the return on an assets, less afflgunts induded ITr net interest. 28
Abbeycroft Leisure NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023 Wherechange5 tothe Sdwneh3ve resdted in past 5ervicecosts. these a recudnised Nnrnediately In the Statement of Flnancil ArtNities, together7 the cost of aAVturt•ilma or setUemeni The Sullolk County Council Pen90n S¢heme defirted benefit nsIon SMe 6 an asset at thÈ balance sheet and is restrtcted to the pension a55et Idling wnount based the assumption that there are minlmum fvnding requirements relating to the scheme. TPkE restriction of the pension asset is rettfnised In other retogri5ed gains and losses. s. Etwknyee Benefits The best esymate of the expendthre requiredto seiue an cèlimion fortermination berrfrts is recognlsed immediely as an expensewhen Charitsble Company is demOnSuab cc4mmitted roierminate the empluyment Df an employee or to pro¥idetemination benefit& The Charitable Company makes e5tim•es assumpkn concthng the fuwre. The resulting acrnunti e5tThates and assumptions w(11, by definr<ion, seldcm equal the lated acbjal results. The ellimates and a55UmPtions that have si¥ntficant risk ofcauslng a mat1?& adluknieTrt to the carry4 amounts of assets and liat•litie5 Within the next fJnan£ial vear aredlscussed below. The present VBlue of the Sufftlk County Counol defined ben2fit liability peThd$ on a nwnber of facto that are determlned on an actuarial basi5 Using a variety ol aSStsmpti. The assumptions v5ed in detemiining the net £05t or Income for pensions include the discount rote. Any thanBe5 in these wumpliDn5. which a di5dosed in 13, will impaEI the ralnE amount of thE pensi a55eVltabi1ity. il thgaistaths The tharltable Company Is a company limited by gLwantee and has no share capital. In the fftnt of the Charitable CompafiybeinE WOW)d vp, the Irdbility in respe¢t of theguaTrntee &mited to £1 per member. 3) Ael•thd ¢V trans•rtkns and tr•ro•itths wllh orrdni41¥)n West Suffolk Councll The Charitae Company has a dose workir% relatiOnmPWlth West Suffcrfk thunal (previouY5t Edmund5bury 8orou¥h Councfjl and Fgrest Heath Distrtt Cou1). The foll¢Mry is a summèry oftransactlonswth West Suffolk Councll: 2023 2022 Managementfee receivable Income Purchase5 419,161 736.524 34U66 129,846 551,572 338,084 Sales Indude reimbursements ft maintenance wtyk paid bfAEi)eytyoft Leisure, aswell asfaaloty hlre and Corporate membership eontribution Purtha%s indude payrnehts for 5er¥ice level ayeement5 ftr and Commur#cati¢)n5, PayToO and HR 5ervi¢e5. West 5uffolkCounc4 owns all of the land and buildiw DcoJpied by Havethill Leisure ntand the building occupied by 8uryLeisure Centre. West5uffolk CouKil have the abilityto chary a peppercorn rent for all land and buildin8soccupied by Abbeycroft Leisure. The balance outstandlry wbth the We5tSvffolk Coynal as at 31 March 2023 was a creditor Dt £39,66912022.. £244,898). From I Wil 2019 St EdmLrnd5bury aorough Ctyjftcl and Forest Heath C¥strirt Counril merged to betome West Suffdk Coyndl.
Abbeycroft Lelsu re NOTES TO THE FINANCIAL sfATEMENTS forthe year ended 31 March 2023 Bober h Distrirt Counol 8abergh DistrictCourKil provides fundirgintheforni of a mana8ementlee. tOsUPPOrtt CharitstAe Company inrarryin¢ gut itscharitsble tsbjectives. The followinK 15 a summaryof transaction5 with BobEr8h Distrirt Counol- 202a 2022 ManaBemeni fee receive Income Purchase5 291528 132.593 338.606 291,538 79,134 427,398 8abergh thstrict Countil owns all of the buildi5 occupled by Klngfisher Leisure Centre and Hadleigh Pool znd Leisure Baberyh Dlstrict Council have the ability to charle a peppercorn rEnt fw all land and buildin$5 ¢xcupie4 by Abbeycroft sure. The balance out$r•1w•th BaberBh thstiitt Coun(il as at 31 March 2023 was a debtcf of£l.88612022: £178,970) Abbe croft Enter rises irnited wholl owned sub5itha In2022n3 transactionstrk platè ttween thtTruStd itswholly owned subsglyAbbeyoftEnterprises Limttedfor provision 0f3ccountingseNis. staffihgand ofequipment. Thetotal tharge made by Abbeycroft Leisurewas E21.964 IzD22= £27,938). The balarte outstsnding v•th AbbÈytrDft Enterwise$ a5 at 31 Mzrch 2023 a treditor of E621 12022.. debtor of £40.8741. 41 Donation5 and.¢rants 2023 2022 Grants D(x)atlons 638.546 869.123 638.$46 869.183 Included in 8Tant inrn¢ 15 £Nil12022.. 18,290) bn relatitsnto go¥errunent grants of whith £NlI 12022.. £133.9451 had unfulfilled conéition5 at the ar end Sl Charftable attlvitles 2023 2022 Operation of Iwsur¢ faulitlE5 Local authoritymanagernentfee Sport5 development Exercise dasses Other income 8,747.36¢ 486.836 123.761 67.653 94.332 9.519.946 6W5,570 351.153 113.724 50,209 103,149 7.463,805 si othw Irin8 arti¥itifs 2023 2022 CatprÈn8 Soft Play Income X-Height Iorne Room Hire Other Income 633A82 323.981 158,470 23.503 99,959 3L762 637,675 105943 89,170 L042286
Abbeycroft Leisure NOTES TO THE FINANCIAL ATEME5 for the year ended 31 March 2023 Artiwtles oltradlne subskllary The CharitaE4e Ccmpany has a vtholly o¥med tradi subsirfiaryi Abbey<Yoft Entwprises Limited, incorporated in the Unrfced Klncdom (registered nurnber.. 105914901 on 4April 2018. of which some oftheTru5teesare directors.The cLYnpany provides catering seivices within the Leisure facilibes. and grftsall of it5 taxable prfitsto Abbr0ft Leisure. Ayditsd accounts of the ompany arefiled with the Re8iStrar ofcompanies.A%rnaV0f1heCornp3nK5tradlTrgre5UItsf0rthe yearended 31 March 2023 and 2022 are shown below". 20Z3 2022 TurnovEr Cust of salES 503,003 1375,9171 1619.0181 Gross profft Administratlve exnSeS Other operatins income Interest received 265,438 {10378) 127.086 115.8491 17.080 59 Oper*lng Profit Taxation L860 128,366 Pnjfit forthe ytar 12B.774 Totsl assets 250.185 247,836 Totsl Irablities 162,0971 193,3331 re eaplt•l and 188.08¥ J54S03 71 Otherln¢orne 2022 CJRS Furlough Grants Other COWD 8uslnessGrants OthÈF income 79.C62 41385 25J16 25.116 121.914 8) In¥estrnents 2023 2022 Bank Intere 91 Rai51ng fvnd5 2022 Dtrect costs Support $ts Governan costs 6n,946 Tl.687 7,165 756,798 460.934 6L376 5,987 S28,297 31
Abbeycroft Lelsure NOTES TO THE FINANCIAL 5rATEME for the year ended 31 March 2023 101 Charlt3ble ¥tlvltle$ Supwrt Govemance atsis Total 2023 Operation of l•sure faalities Sports development Other costs 183.YJ8' 102..808 46.151 1331557 9p54.no 599.968 478,914 10 93J.592 497.160 114fAS 114025" W7010 Dirert osts 5Pprt Govnan¢e costs Total 2022 Operation of leisure facilities Sports develoFxn¢nt O¢h¢r costs 6W.924 404.316 184.755 7.433,995 L595.845 64,&Ji 8.440.769 468,918 242,665 9.152.351 21.329 2L329 1.697.027 111 éxpenditure forthe year 2023 2022 This is stated after Charn8/(credItiK}= Proffit on disposal of fixed assets CJRS Grant5 received Other COVID Relief Grants received Operating leases- land & buildings Operating leases- equipment Depreciation Amortisabon Auditors remuneration - statutory audtt of group and charity Auditors rÈmuneration-statutory audr( of sUbdi3ry Auditors remuneratit)n- oc¢ountsry semcts IM3 11951 179,0621 142,3851 34.375 27,759 361642 2.579 16.950 3.750 3.7C(I 125,1161 35.150 28..369 339.461 S.2SO 1950 121 Supporttosts and Govem3nre costs The Charitable Company allc£ates its supportcosts as slk)wn in tte table below and then firrther apporttons those costs between theth3r1tab adiwties undertaken (see note$9 and 101. asisolallocation 2023 2022 Human Resources & Payroll Information ThnagY Financial activities arketin Management Insvran 157.970 271,579 79S.142 167.9)2 281.130 84,680 1.758.403 Use Tumover Turnover Turnover Turnov 316,774 972,156 250,779 3Z6.741 149.512 2.40V97 £2,332.60712021 - £1,697,0271 has allocated to chwitatle artT"5. £6929)12022 - £61.3761 has been allocated to raisin8 fuAds. Governance costs include audit fees £3q67012022= £173101. leE4l and pyofessonal fees £82.62512022: EZ6651. Other cosis £1.09612022: ÉL 1421.
Abbeycroft Leisure
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023
131 AThaly5tsofstaff costs. Intr rernuneratlon deXp5¥nd the COA ol management peTsonnel
2022
Salaries and wages
Social securitycosts
Current 5eThice Costs
Other Pension costs
4.883394
294,189
239.IXJ
245.093
5kn6176
4305.468
248.535
563
63.632
S.180.635
Durin¢ 2022123 there wert no nOn<ontra1tefflI1nati costs12021ft2: £nin.
The oIumentS of l emoyee including benefits in knnd wwe in the range of £120,rJ)I to £130,ODO 1202V22'. 0
émployee. £120.001 to£130.[l. The emolumentsofl emp1weelndudingbetS1n kindwerein Irange01£.0oI
to £I.cO)I202I/2I: 1 empl(yee. £9J%UI to fIc.lK(11. The ernoluThThts of 2 employees Includlng benehrs in kind
were in the range of £80,(Kll 10 £g0.cixI12021122: 0 unpl0$. £80.Q)I to £90.CrfJOI. The emoluments gf O employees
includiro bEntffts in kind werein the range of £60.CK)I to £70XO)12021n2: 5 employees. £60.001 to £70.CThI.
5 TrUee$ of Abber01t Leisure recer¥ed £964of exFensesrelmtNrsed duringthe ypar. and no donatlon5 re recelved
frmi Trusies.12021n2- £648 relatlng to mlleage forthreetrustees, no donations were reteNeil.I
The keyrninagement personnel oftheGioup Ch¥ittheCompanycrJmpri5e theTntxee5, the Chief Exe£uiiveoffir.
the FSnance Director, the StratEgiE Thfector and two elopment Directors. The Trustees are nDI remunerated. and the
total employee benefits of the other key man
.Abbeycroft Leisure NOTES TO THE FINANCIAL StATEMEMrs for the year ended 31 March 2023 The maior financial assumptions used bythe ¥¢ttMrywe. 2023 2022 Future pension Increase5 Future salary ¥1£a$¢5 Discount rate 3.15 4.75 2,75 hkossum t¢ons- rnortoli 31 Marth 2023 Current pensloners Future pensioners Male 2Z5 years 23.3 year5 F¢male 24.6 years 25.6 years 31 Mèr¢h 2022 Mal* 21.9 years 219 years Female 24.3 year5 26.1 years Current pensioners Fuiure pensioners Aoo slso orncvntchLf ed to thestotemento FinonaolA(tivitses 2023 2022 Cyrrent serwce cost Interest eXpere 361 78 439 476 566 Chon es in the resent volueo thede Itobl- otion.. 2023 2022 £'ooo {12.7351 14761 12651 1581 1,265 92 12,1771 Defined benefrt obligation at l April Current serwce cost Interest expense Contributtons by stheme participant Artuarial Igain5111055es Benefits paid Deflned benefit tsbli8ation at 31 Marth 13611 1339} 1481 17.8361 es in the ir volue o on ossets.. 2023 2022 Plan assets at l April Interest inrorne Return on plan assets lex¢ludirn4 interert onthe nttdefmed bertefft obli82tSonl CDntrIbuOns byemplwef Contributions bys¢heme partrcipant Benefit5 Restrrrtion to pension asset ceili Plan assets •t 31 Marth 9.4>7 261 8,447 175 667 182 1921 11,5251 9,437 The return on assets indudin8 amcKrnts in ntt interest Wa5 IE21¥)kl12022: £842kl. Th• analysis of stherne as%ets atthe report8 date We asfo11tr. 2022 Equilies Bonds Property Cash 67 23 65 24 io
.Abbe'ycroft Leisure NOTES TO THE FINANCIAL STATEMEKrs for the year ended 31 March 2023 Westsuffolk Councrl Fomtrf est Htath Dlrtrlttcncll Pension 5th West Suffolk cn(lI pens 5themes are shown separatth to reflett the d6fferent penslon mIssIon aEreements wlth Suffolk County Council. The Charitable Company pWtIdpa in the Forest Heath Dlstrkt CDunciI dtfined benefit pens1) scheme under an adrned both status. The xheme Is a multiomployer defined benefft final salary scheme where the share of the assets and liabilide5 zppllcable toeach employer has been identified bythe S(hemeActuary in thbs financial year. The51heme 15 admln15teredforthe benefftcLocalAvthorltyempJoyee5 and otherbodie53nd is managed in arc(Ydan wlth the Local Gomment pelOn Stheme fteÉulaYon$ 1997 las amendedl. At the arnd ttEre were 6 Abbeycroft Le15ure Empklyees In the stheme12022: 6 empl¢)>esl. The Sthemis assets are held Separately frw the a55ets of the Tri4S¢. Contributions totslling £MI {2022: EU301 were p3yable * the year end and are induded in wthln creditors at ihe repKJrtlng da. The Information used for thls dixloswe has been b35ed on the recent actuarfal valuat>)n. by Hyrnars Robertson LLP. totske account of the reqviremerÈts of FR5102 in orderto 35sessthe liabilities of the Fund asat 31 March 20Z3. The may financial assumptions used bythe xtU•V ¥•pre: 2023 2022 Futu pension in¢aSe$ Future salary irKrease5 Discount rate 2.95 3.95 75 3.15 3.85 2.7S hicossum tions- nxirtoli 31 Marth 21)23 Current pensioners Future pensioners Male 22.3 years 22.2 years Female 24.9 year5 25.4 years 31 March 20Z2 Cvrrent pensioner5 Future pensioners Male 21.9 VeaTS 22.9 pars Female 24.3 years 26.1 y*•rs Anu amount cho ed to theStot¢mÉnto 21JU ro(x)" 59 2022 eoc 83 12 95 Currentsemce cost Interest expense sinthe sentvglueo thede nedbe tobli otion.. 2023 2022 Defined benefit obligation at l April Current seN¢e Cwt lfiterett eXp¢e Contributions by S(Me partiopant Actuarial lossesllgainsl eenefits paid Defined benefft oblSgaticn at 31 Marth {4.928) 1591 11351 15,2281 1831 11081 191 461 39 14.9281 io (3.038
Abbeycroft Leisure NOTES TO THE FINANCIAL sTATEMErs for the year ended 31 March 2023 -ch inth rle0 2023 2022 £'o 4.670 Plan assws ai iwi Interest intome Return on plan assets {extludiJy arnoyntlrKlviled In net Interest on the net defined benefit otAlgatlonl Contrlbution5 byemployer Contrlbution5 byscheme partl(ipart Benefits paid PlaTh assets at 31 March 5.129 140 365 28 180) 1391 5.129 The return on assets includin8 amounts intet was1£363kl12021.. 461k). The anzlysis of scheme assetsat the repoTEl da re a5follow5.' 2023 2022 equities Bonds Properry Cash 67 23 24 Distrfctcouncil Pen&on herne The Chariiable Crxnpany parrirJpates inthe 8abergh DIAdacounaldeflnedbtnefit pertslon scheme underan admlrred bjdy sratus. The scheme is a multi-employer defirEd benefft final salary scheme where the share of the assets 2nd Ilabilltles appllcableto each employerhas been identrfled byihe 5cherne Aauary in thisfinJncial year. The scheme Isadmlni5tered for the benefltof Local Authorttyemployees and other bodies and is managed In attordancewlththe Local Government Penslon Scheme Regulation5 1997145 amende(D. At the yearniJ there were OAbbeyuoft Leiswe ernpl¢yeesln the heMe{2022.. 1 ernployeel. The kheme's assets are held separatefrOM the assets ofthe Tr(Jst. Contributions totalling£f4il12022.- £3361 were paYat at theyear end and are indud2d in wthin crethiors at the reporting date. The inforrnatyon used for thls disclosu has been based on the recent attuarial valuaVon, by ltyman5 Robertson LLP, to take account of the reqLMrernents of FRS102 in order to asse55 the liabilitie5 of the Furbj asat 31 March 2023. The tnajorfinancial asSUmPtion5 used by the actuary were.. 2023 2022 Future pension In(aseS Future salary increases DT5Eount rale 3.15 2.75 hicossurn ti(5-Mort1 31 Marth 2023 Male Female Current pensioners FL4ture pensioners 31 Marth 2022 Current PenonerS Future pensoners Male 21.9 years 2Z.9 years Fernale 24.3 years 26.1 years
Abbeycroft Leisure NOTES TO THE FIM4NCIAL sfATEMEirrs for the year ended 31 March 2023 Anol $150 omount¢hu ed to thestotement n1vlrtivrt 2021 2022 Current 5èNce cost Interest expense sinthe resent volue o thede 2023 2022 rrJ)O 14341 Defined benefit obligation at i Awil Current 5er¥ice cox Intere# expense contrib10n$ by xheme partia Actuèrial losse511gainsl Benefits paid Defined benefitobli¥ation at 31 Marth 191 397 esinthe x> 2022 £'ooo 318 Plan assets at l Aprfl Interert incorne Retum on plan assets lextludirg nourt i1luded in interest on the net defined benefit obligation) Contributions by employer QJntribtstion5 by xhemt partiopant Benefits poid Plan assets at 31 Marth 25 {3441 344 The reth Dn assets Indudin8 arnourts in net intere5twas£Nil12022: El31lkl. The anafys'sclscherne assets at tre remin8 dats were •sfollv4¥5: 2023 2022 Equities Bonds Propttty Cash 24 io St Edmund5bu Borou h COU11 FO5t Heath Distrirt Courtcil and Baber Distrirt Council Penon Schemes .SEBC SEBC 2022 FHIK FHDC 2022 BAB TOTAL 2023 vooo TOTAL 2022 Movemerjrin de 21123 DefKit at the beginni of the year Currentservice Cost Inte$t expen* Ernp5oyer Contributions Interest income Net acbJarial Itossesllgains Restriction to pension atset ceiling IDeficitllsurrAus at the end of the ye3r (1740) 142881 201 611 14761 159) 13391 12651 (1351 182 175 1,932 IS581 1831 11081 {53J 11161 141 12591) 14.9Ql (420) 15631 14741 13821 18t 211 40L 277 2,827 261 4.545 15251 140 826 69 11.6771 13.2021 12,74101 1531 12,592 37
Abb."eycroft Leisure NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023 151 Tajation The Charitable Companywa5 Vamted Charrtae statuson S Detember I)6. The company i5ron5id*red to pass thetests set oul in Paragraph I Schedule 6 of the Finan Art 2010 and therefore it etsthe definition of a charitable company for UK corporation tax purposes. Accordingly. the cornpany is potentialty exernpt from taxatityn in respe£t of income or cawtal gains received vAthin categorie5 covered ty thapter3 Part 11 of the corporati Tax Acl 2010 or Seciion 256 of the Taxation of Chw8eablo Gains 1991 to the extent that such irLome or gains are appked ÈxdusN@Iyto charitable ptjrptsses. 161 I1rta1bIe a55ets (Group and tharttyl GoodvAI Softre Total Cost As at l April 2022 Disposals A$ at 31 March 2023 Amortlsation: As at l April 2022 Charge for the yeèr 0isp05als As at 31 March 2023 Net book value As at 31 March 2023 22.966 6,694 29,660 21966 6,694 29.660 5.986 28.952 ZL966 29.660 As at 31 March 2022 708 17] TIble fixed assets (Group and tharityl fvmltwe & office e4u¥4ment Leasehold Sports Equiprntnt Total Costr. AS at l Awfl 2022 Additions Olsposals As at 31 Marth 2023 426.8YJ Llll.150 67.824 15.6141 L173.360 1.944.302 80.688 23,3821 2.QOI.608 3.482,342 148,512 128.996 3,601A58 4?8j Depreciation.. As at l April 2022 Charge forthe year Oi5P05als As at 31 March 2023 309,339 32.836 869.245 108.534 15.6141 9n.165 1,29)A25 198.a92 122,3291 1.466.$88 2.469.409 339.452 127.9431 2.780.928 342,175 NetI0k ¥4lu• As at 31 March 2023 84.715 201,195 535.020 820J30 As èt 31 Mèrch 2022 117.551 241,905 653,477 1,012,933 18) Investments Abber9ft Lei5uie purcha ICQ ordinwy shares in AbbeOft Enterprises Ltd (company number 105914901 on 22 February 2018 rn Cash.
Abbeycroft Leisu re NOTES TO ThE FIMNCIAL STATEMEwrs forthe year ended 31 March 2023 191 stks Group 2022 2013 2022 Bar and café 5portS Equipment Badges and certificates io.n4 7.516 602 2,052 2.052 S.638 8.292 7.516 8.9S4 2.654 201 Debtors Clwlty 2023 2022 2023 2022 Trade dEbto Prepayrnents and acuued inccr Otherdebtors Amounts owed by grwp undertakJrtBs 144,417 332.430 207,631 205.081 6,571 184.548 13A62 323.453 406,797 442.157 21) Credltorn aThUntsfaIli duewlthln one¥tsr 6roup 2023 Z022 zou 2022 Trade cr11015 Acrrua15 Other ueditors other tsxesand social securtty Deferred income (see note 221 Amounts owed to group VAdtrtakn'ngs 555 nL756 941266 528520 65.634 90.467 17L276 534,166 9(V)A76 523,317 65.634 79.CQi 171.276 63,681 146.964 541.061 544061 621 1,977,873 1039350 L79&163 1,748,704 221 Creditors: •munts f•lll#¢due •fterone) GrP Charréy 2023 2022 2022 Loan from St EdMd$bUry BLYou8h Counol Loan from St Edmundsbury Borough Coul[ terni$ of repayment rela(e to c0rpdrtio which will reqre repayment In more than l year ihe pre¢ise fvture date5 will be detemined by future transattions. The loan is interest frèe up to and including 31 Mzrch 2024. Interell is then payawe on the prinapal amoum at 2% per anrum up.to and includin8 31 M3rth 2027 and then 2% abo¥ethe Bank of En¥and baserate or 2.5% th"ther 15 the higher. The loan has teen treated as a conossionaryloin under the CharitiesSOAP. * a(countfftg policyo. 231 inmme Oeferred income forthe eroup and charity cryxwi5e5 of deferred gTant irorne. annual memberships frryn 01 Awa and Direct DebitmembersNps owedfrom d05urÈ. 2022 Balan asat l April Amount released to income Amount deferred in year 8alance as at 31 Mah 171.276 {171.2761 541JJ61 541061 493.631 1493,6311 171,276 171.276
,Abbeycroft Lelsure NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Mèrch 2023 241 Analysis Df charrtalAe IWKIS T1¢r between funds B•lanc• at 31 Marth ZP23 Balarbce at I il 2022 Acarial galn Incorn• 'Exwndlturn Gènernl fund 907313 10.615.798 110,70L9771 81.CQO 2.134 Penslon reseNe 12.793.IJMJI 1312.LJJJl 3.105,(DJ D2signated Fund5 Capital Fund 150.000 Svbtoral Unrewlrted Funds 11.735N71 10.615.798 IL013.9 81.iIOQ I.IW134 Restricted FuThl Stsnd Tall Projert Lloyds Bank gond Artive Mums Project H3dleEh Dementia hJlr3nce Fit and Fed Inspire Cards Summer 21 Swim Initiatwe Womens Tow of 8ritsin Long COVID Teen Chill Omni(rom Patient Care I Pathway Grant Mildenhall Park Run Disability Sport Place Based Physical ACtIty Artive Communities Sporting MerncleS Cornmunity Chest Explor8 Outdoors Care Homes Health Checks Pathway Grant Health Operations Warm Spacesfjrant 4.716 81,0)) 639 6.491 23,913 8.757 4.680 11.1531 3,563 181.CWI 12.777) 13,795) 1256.3661 11,2991 14,6801 {1i5(0) 16.7551 4.062 6,016 3.320 232.453 7,458 23,1 6,755 13.171 5.130 21.552 2.OLKI 13.171 IS.1301 1161.5521 13.5(> 16.8731 IIOJ,9451 115.3311 197) 110.9921 14.7441 114.4851 117.1301 123.1801 12,ILbll 127.3851 140,CL 4.373 101.945 15,331 10.992 4.744 14.485 17,130 23.180 2,IC 27.385 14.ElJ4 Subtotal Funds 192.504 638.$46 1698.3771 181.tJJOI 51,673 Total Fd$ (1.543.183) 11.254.344 111.712.354 3..105.(KYO 1,013A07
Abbeycroft Leisure NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023 231 Analysls olcharlt•blefvnd5 Charlty Trnnster between fvnd5 8alan(e at 31 March 2013 Balance at l Awil 2022 General fvnd 752,812 9.867940 {9387.7051 8LOLIO 714,047 12.793,DJOI 131L(MX)I 3.105.000 Dè5i£nated Fufid5 Other assEt5 Capital Fund Ico 150.( Iso,(K)o btt>tsl Unrestrfa¢d ndS IU90,t)881 9.e67.910 110.299.70S1 3.105ml 81,lJOO 864,147 Restrrcled Fund Stand Tall Proiert Uoyds Bank Bond Active Mums Project Hadleigh Dementta liance t and Fed Inspire Cards Summer 215wm Inf(i?ti¥e WomeThs Tour of Britain long COVID Teen Chlll Omnicrom Patient Care / Pathway Grant Mildenhall Park Run Disabllltysport Place Based Phk31 Attl¥e Communr(ies Sportlng Mernories ComrnunltyChe5t Explore oUtd(S Care Homes Health Checks Pathw3yGrant ealth Operation5 Warm Spaces Gra)t Subtotal Funds 4,716 81,(AJ) 6.839 6.491 23.913 8.757 11.153} 3.563 181.(ttJ) 11777) 13,7951 12562671 IL2991 14.6WI {12.5tl)I 16.7SS) 4,062 6,016 3,320 232.454 7,458 23.(Q) 15.5CX) 6.755 13.171 5.130 2L552 13.171 15.130) 1161.552) 13,5rxii 16.8731 1101.9451 115.3311 1971 1103921 14.7441 114A851 117.1301 I23,1] 12,1041 127.385) 114.6041 I371) 14D.O(h) 1.51XI 4.373 101.945 15.331 1.903 10.992 4.744 14.485 17.130 2.IlJ4 I4.f¢ 81.000 51.673 Totsl II697JUJ IQ506J87 11039U1831 4105.IJID 915A20 41
Abbeycroft Lelsure NOTES TO THE FINANCIAL srATEmErS for the year ended 31 March 2023 RestrSrted funds During the year and in pri years funds were receNed whith carrd restriclion5 upon thdr use. Non-performance related grants received durir Ehis year have been recoKne infull on theststement of Financial Attiviues. Performante related Eiants have been recoEnlsed to ihe level of outputs delNered the period up to 3J March 20Z3. Funds are restrkted forthe pwposes of: StandTall ProJect-Thi5 is a 12 week physical actfvity and Wellbei proEramrnethattsrgets 14-25 arOIdsWhOare both Inactive and ale known io suffer th a mental health condition. Phase l of the prtsjed ts c¢)mplete phase 11 was due to complete in 2019no but w35 extended due to the pandemit. Pemission was obtalned to transfer the balance of lunds from Phase l of the prc4ect to umestritted projects wittun the (haritable Clxnpanv. Mak your Move- This funded a programme d Fysi(313Ctivity as a Ier to help younE peuple develop a number of skills that will increase thr sell<onfidentt. alorE5ide providing individuals with job ready skills. and opportunitie5 fLY people to¢btain lsure 4ualrfications thèt can lead to employment. Gym Eguipmert NEwmarket12021 funds1- This is grant funding fr¢Yn Forest Heath Distrsct C(¥Jncl for the purchase of 8ymlsptsrts equipmentat Newmaiket Leiswe Centre Gym Equiimatt Skylinw12021 funds)- This i4grantfw¥dir¥ from St EdmurvJd)ury BOr0h Counol for the purchase gvm/¥ort5 eqwpment at Swiner srtS Centre. Exercise on Refsral in Hadkizh arKI East Berthoh- The GP refEryal scheme is designed to help people who would benefrt from regularexerose. are aimed at people with rnediczl conthtionsthatput theK health at dsk and people who are at risk through a non-actNe life5We. UoydsBankBohd- Lloyd$8ank prtyKlethe bondthatisrewired bysuffdk CotycoU1 asa guarantee tothe Babergh Local Government Pension scheme. It is a condition of tlws agreement that Abiycroft Leisure allocate the surn of this agreementto a restritted fd. This been released inyear•Sthe L[ Governrnent Pension scheme has ceased In the year. ArtI4Te Mums- Thi$15 fvnthn8 from Suffolk County cou1 to contriErfAe to the imwoved alth of pre8nant women srnoking in West Suffelk and Waveney Hadltleh DementiaAni•no-This isfundinKfr(Yn theSuffolkComMty FOtIOn tosupport Dementia inclusive 50¢ial actiwty In Hadleigh 8We•dan Fund12021 I$1. Th15 15 a lepcy prLMded to South Suffolk Leisure by Mr Brian Weedan for works done to the changing roorn and wmmiNA wl at nfISher Centre Flt and Fed-Thislund is to provtde holiday a¢tr¥ities and free meas toeligible chudren over the hOdaY periods. Sthlk Communtty FournlatrJn- This fundir frt)m Suffolk NHS Foundi¢)n Twrt to prode rehabilitstion for people who have suffered from Covid-19, bth alKTr for people who have decondbtsoned from shieldin& pRople with lon8 term conditions who ha¥E deteriorated and people waitingfor surgery a5 a result of the pandemic Sport Inequalities Sport Fund- This is funding from SP England to help redu the ne8alive impart of COVID-19 and widening of the inequalities in 5Wt and physical artivity Iw1 Cards - Funded from the sale of custrffter dixount cards this is reinvested into community pio8rammes and irbitiatives. which wowde cpportuntties for everyorbe to be active. Outdoorcommunity Pwv¥ram-Thls fvndingfrom Suffolk County CThLncil Mnll support the pilot ofa 31-*ek pro8ramme, consl#irTr8 of attivity swsions per week In 8ury St Edmund5 in an accÈssiblè open ojmmunèl space In CordCeW[Ih c(19 festrittion 42
Abbeycroft Leisure NOTES TO THE FINANCIAL ATEmEKrS for the year ended 31 March 2023 AEti¥e Sth0015 Pmyam - This 15 funding from Active &Jffdk to delrvw a broad programme of physical artivity to communities in West SvffLlk and, specifK3lly. enJ the elfectl¥e delivery of the ActNe Schc4)Is projert In Brandon. Mlldenhall and Thur510n. Uttle Irin$he (102.1 lund51-This is fUndlfrIJrn &JfftJlk County Council to contribute towards the refUrshrnent of the Soft Play area at Kirrfisher LeUre Centre Surnmer 21 Swirn lrriliètNe Initiative to provide free swimmiry anda meal toyoun8 people of Babergh Distric¢. Vornorf¥Tour 011t&[0 Fundin6 for thnt managanent ènd community octivati¢n c05tsassoclatedwith hosti the event HaverhiN Lon¢ COVID Funding to supwt the developmentand deliveryof a covsd rehablitation Teen Chill Thi5 refers to Teen cl11 Cmrt and Is an iniiiatr to supwt Ure pÈopleaccess a safe spaceandto enzage In a broad rènge olactivities Omnl¢rom Thls funding svpportsthe Creation of communttydubsthatencourage Physic activityfor dder peopse Pallent Cav¢lpathwayGra This lunding enables the delivery trlfrailty and pulMortyrehth1ltloft9JpP9rtt0 assist n[dual$ recoverfrom poor health Balanc• Blk•s Fund Fundin&secured to train staff todeliver the balarxe t4ke iritlabv toschoojs Mli denhall PaTkNn Funding secured to cover #art-Ltp cost d Park Run.an organised sk run that isfree to the whole tLNnmunity. Dl$4bOitySport- Furtdirto wovide disability sport at Bury Lelswe Centr nated Funds A designated fuwKI $t5 to represent the pen£ stheme defidt 4¥hKh at 31 March 2023 was £1(2022. £2.793.0001. These furkls have been riftÉ-fÈnted by the Trus$ svth that the eeneral represents free reserves to be spent on running of the Charity. A de5i8nated capital bmd has been set up to fund lutLre caFitsl expendiwre. Previous Trustees designated reserves specifically for initati¥es that grow the buneSS and fvr(her the charItae objece$ and to reflErtthe net bookvalue of ftxed assets notrepiesenied by restrictedfunds. DUet0t Pandemicandthe operational 10$5es these previoustydesignzted funds were translerred to the Eeneral fund in tYear. This pollcyisone thatwlll reed to be reviewed in IIRht of the si8n"rftcant redtIOn in Income since 2020. sfers between fvn In addill.on to the v3nsfers referred io aboy thue has been z tsr to rethcted fvnds frorn unre5trTrcted fund5 for £81.Cthto reflectthetoial value of the Uoydsbank bc1. trnnsferhastaka) place due to the pens6onscheme ceasing in the year. 43
,Abbeycrot Leisure NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023 251 Anajysls of netassets lween fvnds Gmup Total Fundsat 31 March 2023 Genernl Fur•J De5vanated Fund Pen$lon Reserve Fund Med Assets 320.930 320.930 Iletcwrerbt Assets 51.674 58J.207 150.C 782,881 Pension Stherne iiabty Total SL674 901ts7 150,fth) 1.103.811 (harSty Total Fund$ at JI March 2023 Restrirted Fund General Fvnd Designated Fu Pension R5*rve Fixed knets 320.930 321.030 Net Current Assets 51.674 393.J16 150.CAKJ 594.790 Pension Stherne Lfjablrty Tot41 5L674 714.046 150.100 915,820 161 Operating lease conwnitmEnts % at 31 March 2023. Abbeycroft had ann commltmÈnts uw¥Jer non-tan¢ellable operaljng leases in respect of klant and machineryznd propertyasshown bekjw. 2023 2022 Otheroper4tin¢ leases Within one year Within one to years Between twoènd five years Total 11.036 994 14,074 3.038 La1 athd buildln Within one year Within one to 0YearS Between two and five yeaws Total 35380 35,150 35,380 103.598 174.128 .68.218 138.978
Abbeycroft Leisure NOTES TO THE FIM4NCIAL STATEMENTS for the year ended 31 March 2023 As at 31 March 2023. the Chwluble (¥wp had amual convnltrnents under rA-canlIable oPeratg leases in respect of plartt and macNnory and woptha5 Shown bel(FW". 2023 2Q22 Other operatini ltsses Within one year Within one io M years Between twoand five years Total 9.024 227 20535 10,929 6,179 37.643 14251 Land and buxdhy Withln one year Within one to years eeiween twoand five years Tffjal 35.380 35ABO 68.218 138.978 35,150 35.380 174 128 271" cont1ent AreVLlablUtv The charity. along wlth its subsidiary is a member of a VAT0up. Both entit5 corKemed are jointly and Several liable for theVAT liablllties of other group members. At 31 Mafch 2023 thue w05 £89292 paya14e12022: f4050 ceIVable) from HM Re¥enue and Customs from other grp ¢ompanie 281 RenCIlIat1n of net expwAllbJre to etSh from¢>peratln%•aiwlths 2022 Net Incomellexpenditurel Depreclation ortisation Profiton (rpOl Interest Income Decrease In st¢xk Decreasel Iin¢reasel in debtors Inuease in credit¢xs Defined Benefit Pension 5theme 1458.olli 33*461 1588.0041 341,526 2,579 194 1671 439 145,316 568.654 457.oc 152231 16M51 19.9471 177.560) 24L807 31100 Nèt ush pr•vided by opw•tlhg attivities 336.750 927,637 291 Analysisolchwye51n net dob¢ Cash at bank and in hand 1.619,250 1.619,250 701,1) 701,OQJ 2J20,250 1320.250 Loan5 falling due after more than one ar Total 500,0001 20 51KI.OQO IA20.259 619.250
Abbeycroft Leisure NOTES TO THE FINANCIAL sfATEMENTS for the year ended 31 Marth 2023 301 AnaTysls of ¢hatJlable lunds-¢onwar•th Group Transfer between funds Balanceat 31 March 20ZZ Balance al l April 1021 Actuarial Genral nd IA11418 8.653.839 I47•.() 29,LKX] 907,313 Pension reseNè 14362XKI)I {457.((rfJl 2.626.OJO I2,793,oI Desiin3ted Funds Capiial Fund 150.( Subtotsl Lknrestrltted Funds 13.797A82} 8.653.839 19,247.0441 2.626.(XlO Z9.OtKI 11,735.687) Restritted Fund stsnd Tall Project Make Your Move Exercise on Refetral Lloyd5 8ank 8ond Active Proiect HadlelBh Dernentia Ajliance Fit and Fed Suffolk Commurwty Foundation Sport Inequalitses Fund Ir¥spire C3rd5 Outdoorcommunity Proxrwn Active Schools Pro8ram Surnrner 21 SYAM Initiati¥e WomènsTfMJr of Britain Lon8 COVIO Teen Chill Ornnicrom Patient ca / Pathvray Grnnt Balance Bikes Fund Mildenhall Park Run Disabilityswrt Subtotsl Funds 10.212 11,633 16.5¢X) iio.oco 8.729 4.152 19.6481 111.6331 116.7501 4.716 129.C(tsi 81.000 6,839 6.491 23.913 (iAg)1 17.0))) 1146,3881 6.492 146,370 23.931 .714 4,918 10.257 3.410 19,7141 {4.9181 .757 13.4101 126,4591 148KKA)I 111cl 113SC81 IL197) 26,4S9 S2.740 17.OCO 20.264 14368 5.130 140.0 4.680 6.755 13.171 5,130 21.552 li.448? 1.0801 2.5(M) 192,504 216.303 A38W5 I4331} {2900) Total 4581.1791 9.091644 1.543.183
Abbey.croft Leisu re NOTES TO THE FIMNCIAL grATEME for the year ended 31 March 2023 Charlty Transfer betvRen funds lanat 31 Marth 2022 Balan at IApril 2021 IbW)me Expendku Actuaflal General knd 988.790 8.183347 18.448.325) 29.LKL) 752A12 Pension seTh¢ 14W.(KK)I 1457IKO) 1626.Q)O {2.793,0(K¥l Deslgnaied Funds other assets Capital Fund ioj loo Is0xO Subtotl Lknrutsicled Funds 8.905J25 29.000 90.088 Restrfrted Fund Stand Tall Projett Make Your My4e Exe1$e on Referral Lloyds Bank Bond Attive Mums Project Hadleigh Dtrneniia AjalKe Fit and Fed Suffolkcommunity Foundation Sport Inequalities Fund Inspi fAr6s Outdoorcommunlty Prwam Active Scho(As Pro8ram Summer 21 Srn Initiative Women's Tourof Britain Long COWD Teen Chill Omniuom Patlent Care I PathwGrant Balance5 Bike3 Fund Mildenhall Park Run Di5abiltty Sport Subtotal Funds 10212 11.633 165 iio,000 8.729 6399 23931 9.714 4.152 19,6481 111.6331 116.7501 4.716 I29} 81POO s39 6.491 23,913 11.890) 17.(kn)I 1146J881 19.7141 6.492 146.370 4318 10257 3,410 14?IB) 11sco) 13.4101 126.4S91 148.0601 112.CrfJOI 113.SC81 .757 26.459 52,740 17,1 20.264 14,368 5.130 140,( 4,680 5.000 6.755 13,171 5.130 21.552 {118.4481 11.0801 2.0 2.500 192.504 216.303 431)5 {433.61) 129.(Wl Total 13%06.807} 8,622,L52 19338.9291 1626.((*) 11.697.584) 47
NOTES TO TrIE FINANCIAL STATEMENTS for the year ended 31 March 2023 311 Analy4tsof net assets betwoenfunds-wmparati¥e Group Group rotal Funds at 31 March 2022 General Fund P¢nsl¢)n Reserve Fund Fbmed Assets I,0.641 1.013.641 Net CurrentAssets 191504 1115,3281 236,176 Pension Stheme Liability t2.791,(YJOI 12.793.OCXII Total I920* 907.313 ,793.1100} L543.183 Chariiv Total Funds at 31 Marth 2022 GEnernl Fund Des¢nated Fund Penslon ReseNe Restricted Fund Flxed Assets 1.013.641 1.013,741 NetCurrentA$5ets is04 1260,8291 OJJ 8L675 Penslon Sthwn• Lkbjlty 12,793.OCQI 12,793,OCKII Totsl 1925Q4 752A12 12.793.000) IL697.5841
Abbeycroft Leisure NOTES TO THE FENANCIAL STATEMEfrrrs for the year ended 31 March 2023 321 Comparat* 5oFAbyfld Re5trfc¢ed nds Unre5trfrted Funds Total 2022 Intome Irom: DallonS and grants Charitable actiwties hertradlng attltreS Other Intome Investments Total 43&805 430,378 7.463,805 637,675 121.914 67 8 653.839 869,183 7.463,805 637,675 121.914 67 Expendhure on: Aalslr¢ funds Charitable 1vItIes. {528.2971 i¥.n8,747) 1528.2971 19.152,3511 1433.6041 Tthal 1433.6041 19.247.lJ441 19.680,6481 Net iome/(eXPeIttUleI Gr05stransfers in the year Actuarial galnsluossesl on defined teneflt persb)n scheme Net mo¥effltht kn fvnds 5201 1593.2051 1$88,0041 2.626.OthJ 1061,79S 2.626.CQQ 2.037.996 123.7991 Reconciliation of fvnds Total funds broughtfafward Z16J03 13,797.4821 13.581,1791 Total fvnds¢arrnd forward 1915fy1 1.735.687 1.$43.183 49