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 #102 .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 ￿na￿la1 Activities 21 Group alld Chartty Bara￿esheets 22 Consolldaied Statement of Cash Hows 24 Notes to thÈ fina￿1￿ 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 I￿re Chairl Simon Burton Marie Mills rimothy Muii John Turnbull &r RobErt Wales Rosemary Mason Kate Vaughton Chiel £ll￿￿t￿e 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$: thlef Executive Siratssi¢ Dirrfi( Flnans this.year. Ow tr￿ee$ showin8 Outsta￿Ing leadership and nwavering support through the last few year5 and a comrnitment to delivering services in a d[ffe￿nt *w. Our ttaff have also shown a determinaticffl to deliver scffletimng dfterénL el￿￿1￿# in trainin¢ wth the aim of de¥elop¥ne their own rde and improving £enFices to ouraJrttsmer& There are still some STgnificant ¢hallenBes ahead. Ixrt Abbeycroft Is responding to thi5 thrO￿h a dtfferent approath. fundarnentaltyexarniningthe role thatthe or8anisation play5 byfrx￿￿B on the impart itcan make not justthrough physical a¢tlwty. This will build upon the F4atform created this year with the aim of 5eein8 U5 balarKe the delryery of traditlonal servi¢e$ vlth a broader ran8e of acb¥ity that helps add￿$$ stakeholdws. bl￿e$l chaien8es. ￿1 in all, l am excited Ibwtthe vear ahead and this rewtwill demonstrate al the reasonswhy I hold suth ominism fortho future. Warrtm sM￿fv Chlef Em￿Ye .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 C￿rni￿On on 5 Decernbtr 2Cf16 Icharity number 11171381 antl as such the accounts hBve been prepèred in accordarKe with the Statement of Rect￿Mended 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 thatWa5ad0p￿d 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 Ger*ral Meetin8 IAGMI butshall ￿ eli8ible for re-appointment, tknse kngest in gffice resigning firsL Tru5¢ee In￿￿19Th 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& c￿e$ 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 Ch*r(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¢ir￿te effectNe operations, the Chief ExecutNe has delegated'authorlty for operational matters induding finance, employment. and daytoday.rnanagernent￿the orgary5atlon wthsupp(rtfrr)rn a seniorlÈadershipteam including a Finance Diréctor, two Oevèloprnent Oyectors and a strate￿C 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 sUp￿Y51nd 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 man3gerr*nt staff ￿ dde8ated to tl* Chief Exe¢utsve. Disabled Persons The CharitableCobwanywtllemployd*s*ed pe*T*then theyare suita1￿efor 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 ￿cul*ed by Abb￿r0ft Leisure. Thls trading subsidiary gift aid5 all taxable profftstoAbbty¢roft Lei5U Related Part￿$ West Suffdk Countil aNJ Babergh t*strirtCourtil are sSgnlftant p¥tr*rs and contrIbU￿t0 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 COM￿ny￿re.. to pro￿de 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 pQ￿rty, or soclal CIr￿M5￿n¢es with the object of imprown8 their cond¥lions of lrfe- andlor to promote C￿Munity 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. inC￿dIre 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 pu￿15 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. dernonstrat*Jn5. and eoa¢hln& andlLY io pfomote the educatlon of the puwic through the prow&on of f￿lrItIeS 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 tO￿t$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 wellb*ne IlwouEh the provision of educarion. trzinlng and support aswell as encouraglre sodal Inter￿lOn within thecommunity. The rnlssion and core values for iheiKgani5ation **re updated h 2022 FunrangzlonyKIE our2019 5-Year￿lateSY and these are- Purpuse To help people Be Heathy, li%E Longer, Ha¥t Fun PEOPLE Impro￿nE quality and outcomes tPmuEh coll*oraWon HEALTH & WELLBEING Central lo OurC￿munitIes. health and wellbping FAaLITIE5 & SERVI￿5 WJdenin8 participation with i￿￿81n￿[on and energy Values Integrity I￿nesty. 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, v￿ry￿ne ts In¥ited. Teamwork We supp)rteach other fLwa biB8er gUtcc•ni The key att1onsem￿oYed to 8th￿tthe 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 tr￿comMunIty. create and manaKe relationship5with key partners and 5takeholdusto ensure thatthe Charftable Cwnpany15 aware of and can contribuTr to releV￿t inits"atives tsknng piaceelsewhere in thetonwnunlty. work in partnershipsthatadd value to the organisation and irnprove theSe￿￿S a￿lable to communlty, or8ani5e and engage in k(al. rEgI￿al. 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 Ol￿rS several competitive membership packaeesto customers of the leisurefaolities. tompri5ing atcess to fitness Studios. swmrniTrg pod4 and exercisedass pr¢w*nme& ConiessioThary ratesfor studEnts. senior citiiens. people with disaknllties. the unemployed and peoF4e on IowincLThe. There is a wde range of pay and play ￿tl￿tIeS èteath Centre as well a$ weekly5e55KJnS run e5pec1a1tyfort￿ o¥Yrfift4 adults wrth disatxlibes. andchddien. The organisatSon also promdes faaltt*5 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 C*JttJ¢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 aCt￿l￿t$. The tÈ3ms also atcess several local, crwnty. ryional and n￿lo￿al 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 tOAbb￿roftdoCUrnent 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 thalle￿Ing 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 wellb*n8 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. a￿lCe. 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 Sust￿nable 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 ind￿je. 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 bri18st￿n8th *d balance ¥trwtles ot those In care homes. 417 people atteDtled over 3 months and the S1￿Cess of the project has led to turther delivery into 2023-2024 Teen Chrll ha5 retumed in Brandon and Ne￿narkAL a popular eveni￿ actmtytryour people to rnee¢ safely together and e￿age In fun. sport and actmty t￿ether in a leisure eniironrrient - 94 young P￿￿e attending. Forest Schods and Outd¢x)r Adventure Day5- 760 se&sionswith pla￿ fty4900¢hildien Family Park Cooking- S8.5￿ melas PToMded to date thrO￿h this incredibty popurn￿r 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 S￿131 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 reslie￿e 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 infiom*ton15 available on the Mebstte *ww.adwurLccm and in thè Annual Impxt ReporL whith also IndudescustomertesDrnthal& Organtsatfonalstrate The Impact ofthe (￿Ona￿T￿S pandemic arnl other macro knl chalenges ha5 forced the pU￿1C leisvre settorto re-. examine its purpose and Is aimingto delivEr. Thi5 ha5 also ledto a rEport bysport EnBland:Future I￿PubliC Sedor Lelsure-" September 2022.. Ills model seestrd(Stional leisure Sew¥i￿$ transition to being focused on active wÈllbeing. It would create a closer rela￿OnShip bets¥een ￿1th and leisur< bul￿on SOCFal wescribrK ctr I￿ation 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 comMi￿Oned/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 Fo￿tion 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 f￿dIn& 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 pr0dl￿rIse￿(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 ne*4'puipose'aloryide some key behavlours that wi fvrther infom) the orga￿satIonS 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£ waluat￿l wth e￿n8 f)￿tOmerS aryl non- user5 and On￿ finali5ed will 5nvc4ve a ¢han8e of logo and Stra￿lne along9de a than8e ￿ imagerythat will be launched in Juty 2023. Abbeycroft Lelsure TRU￿EE5, ANNUAL REPORT for the year ended 31 March 2023 Health & wellbeing partner woa¢tively pr¢￿￿tin8 bthaviow than¥e. focused on pr￿th"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 Two integrated lelsure health"pathwap wth NHS are also in place whKh targetfrailty and pulmonary rehabilitstion (W￿Ch includes Long Covidl. The Hub hoststhe Sporting Memories initiativefor dde¥ people. the Catth 22 suffolk Posr(ive Fuiwes Inltlatlve to veduce anti-social behaviour and a place- based physical xtiyity pikntwth the NHS. There is a cardiac rehatslitation prograrnme in pl¥e u9ngthe leisure facllfjes whlle thlldren attendkng the speech and language sessions a150 benEfit by beir¥ able to go 5traightto the library tochoose sorne books. The enwronrnental performance of the hub Is also featurèd in the report. Amon8 many renewable energy features. 741 solar pane15 saved over £40.l￿ worth Qrf dectriutyand 140 ton5 ofC02 ernI￿On5 in 2022. Th? building's battery slorage system hz5 saved anoiher forr¥-four tons of emlsOons In that perirA. Other silesc￿0cated with a range ofpwtners indurfing I￿alth partners Include Brandon Hub and ￿3￿rh111 Leisure Centre. Worlrforce We believe that anyor8anisatirJn 15 ¢mly as Sirofj8 05 It5 workfurce and were 1mrnense￿ proud of ours. The pandemlc has re-shaped WOTkfLYce53cr055 industries in the LIK and leisure is no differenL Our workforce is client-driven. staffing our Thtres from C￿..1￿22..C￿. with m05t working shifts. We operate on a core team of 360 supported by a furthergroup who work casuaNy. often students learning about the world of K*rk in tl*ir first p*d rdE_ ￿J1 are valued and offered training opportunff¢ie5. During 2022-2023 the National Pool ￿fegUard qualification was offered free of charge to anyone wBnting to try a career in lasure. It is a wdl-re8a*ded qualrfication. iefiecting a le￿1 of respo￿611[tyfUrthe safety of pool users and pmvide5 transferable skills into otherareas of leisu￿ tfft￿k. We have a long histcry of supporti￿% good a￿￿enti￿h￿ £yportunitie5 and our fifteen apwentice5 thi5 year have exLeeded all exFéCtats"ons with 95% securing longer temi employment with u% and IIMJ% ctsmpletinB their appFentlcethip. We also received fundingfrom Active Suffdk to uwskill srxne owfitress womorce partKularly in health based aTrJ mental health supportskn115- 35 training F4ace5 provided. We are proud of our lOr￿-stan(ling ne8ative gender paygapwhich dernon5trate5 the opportunitteswe provide forferna to Secure valuable work wth u5. We are also woud to be ieco8nised as a fisabdity Confident Employer. io Abbeycroft Leisure TRUSTEES, ANNUAL REPORT for the year ended 31 March 2023 Partners Abbeycroft Lelsureworks with a range of ￿rt￿er5 who pthide fantastic support fr*rthe Iratiatives provlded. These IncI￿Je. but arè not limited to: West Suffolk Mid Councll .Workiiig Together "Flllied NHS Wést Suffdk '.SUFFOIK Suffolk Courrty C￿1￿¢•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 ens￿re 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. w￿Ch Impact on ihe operation of swSmmlng pools particular￿. alon8*de 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 remO￿nE barrier5 to access1￿ semces W+￿￿e at all pos5tble. These Issues wlll need to be worked through wilh Ictal authc*ity 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 to*Drkwith a bruader range of partnersto dIVer￿fy incclne streams, maxlm15e econornies of scaleand create better outcomes for individuals, health and wellbeing. The breadth of serv1￿ prO￿ded 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 V￿rkIng in the 5y5tem. as mentioned in lastyearfs report. the L￿ganiSatiOn has d￿eloped 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 SeThr￿s alongside ottw Yftpr￿eMents 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 bu￿ne$S model emerges. 15 particularfy impwtsntgiven the intreased levels of cOM￿rtion emerging. The combination of work above has brought about a muth-lmpr￿ed perfonnance in the currentyear and It is anticipated that this positive trend will continue bnto the forthcomi￿ year. Flnancl•l Re¥lew Abbeycroft Le*sure's overall inct￿me atgroup levd is £11.232379 which includes £638.546 for g￿tst0 be used for a rest¥icted purpose compared to £9,092,644 for 2021n2 which included £438.805 for restritted grants in the previous year. Vnrestrirted in¢ome refefs to irtctsme from our customersfrom OPTating Leisure Centresfor recreation inEluding incorne frtyn memberships, swimmin& other sportin& recreational and deVelO￿ent acliwties and inccrne from Westsuffolk ouncil and 8aber£h DirtrictCounci7 under management agieements. Tota expenditure for the year was £11,690,390 leavi￿ u5 with net expendture for the year of £458,011 {202V22.' net expenditure of £518,(￿) and a net movement in funds of E2.646.990 for the year after actuarial surplus of £3.105.CM)112021122'. surplus of £1037,936 after an attuarial surplus of £2.626.[￿lI. The uThre5trKted activities for 202V23 show int¢)meof £10,593,833 representin¥an increase of 22% 4ainstthe wior year 1202U22 E8,653,8391 with expenditure of £10.992,013 representin8 a 19% increase on the prior year1202V22 E9,247,0441, leavlng Uswith a net un￿$tri￿ed 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 un￿strICted 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 i￿jUde the Pension Reserve of £O1202V22'. pension defitit EI.793.0001. Pension deficits do not imparton the level of cash a￿lIable forthe charIta￿eGrOup to spené in the short term. Abbeycrofys restricted funds received income within the￿1 of £638.54612021122: £438A051 Irty￿ funders vlith expenditu￿ 01 £698.3771202V22.. £433.6041 lea￿nE 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 prod￿ed monthlyfor5eni¢* M*aeementto suutinise aAd *ion. Tr Charilable Group's rinarscial performance is aso Con￿dered 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 T*Akt XtUal￿ happened. details of bank balances cashflow fore¢asL Thè Charitable Companws Finaft￿ and Business De￿O￿￿ent$vb-cornn￿ttee'S obiectsves fotus on areas tOSLbPPOrt the flnanazl performance and 8rthvth of th? Lyganisation. Goir8 forward. manaymettt, SUpp￿ted by the Trnstees Clmttirtue to strive to Thpro* the quality of the Charitable Companws services- challenge and improvevalue for morw. build on current partnership5- exceEd Pre-covid levels of activity. seek out new opprrtunitie5 in the area of health and well4jei￿ and intre3se the nvmberof people Pa￿£1PaI1nS in physical activity and health to irnpm%* theirquality of life all of which support linancial su5tainability- 12 Abbeycroft Leisure TRusfEES' ANNUAL REPORT for the year ended 31 March 2023 OurstrdteBV 15.. to grow income beY￿d pre-covid le¥Els to prthride leisureservi￿$ 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 Whe￿wie Can. particularty In 8rowinE (>ur heath *d W￿l-￿nE SoThi￿S. Continvation ofcost control measure5 and ￿in85.TV￿htfinIn0a1 ¢￿trols TAIII remaln in p(¥e with cash flow management and forecastlng rémainin83 ktyf￿US and wiow. Coritynue to prtsactivety source and apply availaFAe fvndin¥ sources the or83r￿s3tioTh isellgi￿e for. 7liswIII increase the levd of income to a￿st in Th￿@ating the fixed arid v￿emL￿ab1e 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 $0 for the foresee2￿e ftrture (to March 20251. Abb•Nofti5 thweforemeetinKgcAng con￿rn requirements. Considering. the current reseryes posf(ion. togetherwith the impact e>istinB financial FerfC*rnance,fO￿astS forthe future, cash fiowfiYe¢asts. the main risks facirelhe cryanisation and onEoir£ financial support for 2U23ft4from West Suffolk Counthl and Babergh Distrirtcouncl. the trustees have a reasonable expertation that. there are uncertainDes caused bythe cost of livÉng and enereycrisis. Ab*roft will continue as 3 g￿n& con￿rn. Foretast Budgets indLKle inflaticffiary irKreases atcurnent levels In rosts for sup￿leS seNces. Ajlowances have been rnade fcrf increases to wages. uIAities costs have been induded *iontrKtsd levels orcurrent forecasts. sens1￿vIry anatysis ha5 been carried out The fortlrnmir8 year is slill rE&"ant ￿ West Suffc4kCoundl provldlng extraordinary ubllty SUPPOrt in the shortterm. FUrt￿r explanation is prO￿ded on pap 25wwtt¥nthe ￿En%COnCern accounllTrg po]Icy. The pri(Ène pob.ry refletts our stratyto enable all pewlewtthln the local communityto access our fxilities and Servi￿5. The Board introduced a ¢oncessionary pricrng pdicy in 2(1)7 which wa5 re¥iewerJ in Marth 2021 which remains largely Unchanged and is Still in operation. C£>ncesslonary prfces are available for a broad range of products including mernberships and pay and play activiltes. Co￿e$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 Man￿ernent strategyttrknth ¢¢mwses: An annual revlew of the prrncipal risks and uThcert3inties that the CharÈtrdble Company ènd its sub&diaryfa¢es. establls*lnR sysrerns aTrJ proceduresto M￿gate 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 ￿znif￿antlY reduced the organisètiorf5 availablE cash balance* This cijnbined with the t05t ttf Ir￿n8 erisis and the potential impact on the organisation's key in£c￿e streams of swimminEantl mernbw5hip and theenergycri%s and pri￿vOla￿lIty 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 fina￿￿1 suppul from Local Authority partners and national governing trx)dies, t￿ether wlth new health income stream5 are p05itNdy impactinB on the orgarbisaiion enabling it to rneer its Obl￿allOnS and secure wgoing v￿abIlity. scuS￿onS the Lrfal Aullhjrltles abwt extyaordinary Lnility suppon for rhe comlnR ￿ar i5on4otnL Utility Supply & Price Volarlllty Rlsk'marntsined at hiÈh levds. The"oppOrtun￿Y to ap￿Y to the Natlonal 5wimmlr% Pool Support Fund has helped to mitiEate the rfsksandAbbe¥troft has L*en 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 P*tners. The continued financlal suppNt of our L¢)cal AuthorFty Partners ￿ critical to the performaKe ofour operatlons. An Inability to furthef develop and 5￿CeSsfUl￿ 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 ina￿11￿ to rnaintain and grow memberships due to IciSA20 IL697,$841 A separate Ststementol Financid ktivttie5 is not we5ented berause the Charity has tsken advantage ofthe exemptions afforded by5ethon 408 of the CornpaniesAct. The net expenditure for the Charity before xtuèrial Ilossesll¢ainsforthe yeor endinÉ 31 Marth 2023 %¥as a net def*itof£458.01112022: deficit of£58&C¥)41 Approved bythe Boarl on......-. ..-. .. and signed on behalf and authorised for issue by." Davld Hovdells FCCA Vice Chairof the 803rd of Trustees C(MPANY PIO. 05X17L119 CHAR￿¥ P40. 1117U8 The notes on p74es 25 to 49 form partofthese finarKial 5tstemtnts Abb_eycroft Lelsure CONSOUDATED STATEMENT OF CASH FLOWS for the year ended 31 March 2023 Group 20ZJ GrDUP 2022 Note Net cash prwded by ¢perntyne acti¥tbes 28 336.750 927.637 Cash flows from ￿T￿MIly •¢tiVTlies: Interest income Purchase of tangiblefixed a55etS Pr•￿ed5 on sale of tsngible fixed assets 67 {362,6421 1148.sioj 6.275 Net cash used in investing a£￿￿treS {135.7501 136257SI Cash Ilows from fm•cin£ xll¥illes: Lon8 term loan Change in cash cash eouivalents in the ytar 701.fAIO S65￿62 Cash and tssh egtsivalents bro￿ forward 1.619,250 1.054,188 Cash and cash equivalents carried forward 2,320.250 1,619,250 Relatlnz to: Bank balances and short-terrn deposits induded tn £ash at bank and in hand 2.310.250 1.6L9,250 The notes on pa8e5 25 to 49 forrn part of th￿ finarrfial thtement& 24 Abbeycroft Leisvre NOTES TO THE FINANCIAL STATEME￿$ for the year ended 31 March 2023 IJ Accouniln8 pothrits a. Ba￿5 olprepirntio The financial statements havÈ been p￿pared under the historic cosiconvention and in accord3rKe with AccoU￿1ftE and Rep)rtlne by Charities.. Ststement of Recommended Pratlice applicatde to tharits.es preparing their accounts in accordance with the Finar￿131 Re￿rtIngs￿nthrd apFlicable in the UK and Reputdic of Ireland IFR51021- IChar(tles SORP IFRS 10211. the Bnanoal RepoTtyn8 Standard ap￿Tea￿le in the UK aNI Aepublic of Ireland (FR5 102} and the Companies Act 2￿. Abb￿r0ft 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 & llab1ll￿es are In￿￿allY recognlsed at historic cosr ortransaction value ￿lesS Otherwise stated in relviani ¥countMy pollcy ntste. b. (oncern In assessing the ￿1Th8 contern ba&5 of ￿epara￿Tr of the ffinatttial statemÈnty the Trustees ha¥* considered fcre£a tashflows. Ilquidlty and buS1r￿ act￿￿e$ o¥er the wlod to March 2025. Early IndiCa￿on5 regardlnE growth an(J finandal perforrnan￿ ate positive for the ojrrent year and performance is on tratkto deliver betterthantheftrecasredFfofrt. Incorne. member5hiprecoveryandgrowth*gasand electric usage. spend and the cash position fs being dosety rnonit￿ed and regularly reported to the Board key stakeholders. However, Abbeycroft Lelsur¥s b¢J51￿$ iematn55ensitiveto lool c(Anpetitth. growth oppw1￿Ities a￿1 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 l0anfauf￿fT￿n West&JffolkCoun(iland 8abergh Coumil t05UPPOrt reiovery ofwhiEh E5LlJk has been drawn down from W￿t 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 se￿ceS 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 balar￿e of £1,162k at March 2025. The impart cif COVItN19 and or*oine cost of li¥in¢ crlsls anrf challenees of the energy crlsls has made Abbeycrofvs relationships with its counct15 even ￿e impwtani than Trjrmal. Trustees ￿ extren*ty 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 C￿Ed 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 So￿n8$ for the perlod to March 2025. Continued 8ro¥¥th in the'HÈalth' ser¥a Continued extra(ffdinaryutlityWPPOrt fr￿ iAxa ALrthLYrtypartners. Further details ofthe or￿15?110￿.S tdansgoirq forward a￿ i￿l￿d￿j in the Report of thE Tnjsw, Future Plans. Abbeycroft Leisure NOTES TO THE FINANCIAL sTATEmE￿s 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 subsidi3ryAbbe￿r0ft Enterprises Limited the periodendEd 31 March 2023£￿ a Ine by11￿ ba￿$. The Charity has taken aJvantsEÈ of the Qxernpti(￿fr0rn dISd￿n¥thef￿lla￿l1¢IftforMatiOn. as perniittedbythe reduted disclosure rewme wthin FRS 102=_ . Sedlort 7 Statement ofcash Flow<-Pre5entati¢)n of a 5tatementof Cash Flowand related notes and disdosure5 d. Inrorne Income from charltst4e activities is feco8nlsed as earrod {as the rela*d goods and Se￿￿5 ¥e prowdedl. Such income is only defèrred when: Customers payfor svMmmirKg lesson courses in ath4ance Df the course start date5. The management fee is received in èthance of the pwirA4 it ￿lateS to. Performance rdated grants are r￿tiVed in ath4ance of the related conditions ￿Ing satisfied. Customerspay forannual memberships in advan￿ of ihe ytar terni. Income frorn other trading actviittes is recognised as earned las the related goods and servi¢e5 are provided). Investment Income consists of inteiest earned onlyand Isrecogn￿ed on a receivable basi5. Income from don*ion5 orgrants is recognised when there is eviden¢e of entitlement tothe 8if¢ receipt is proba￿e. aTr its amount can be measured reliably. Abbeycroft Leisurt considers the5ubstance of ary condition$ attathingto donations or grants and to the subttance of any contra￿U31 tern￿ when determining theirentitlementto incorne. Abbeycroft Lelsure identifies donations or yants that 3re subiett to terrns or perfomiance ￿lated conditions or ot￿r conditions that must be met before there is uncondibonal entl￿eMent 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 otherW￿e 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 GovernMent8rantsarpretten￿ed atthefairvalueofthe3uetrewvedorrettyvabJewhen there isreasonable assurance that thegrant COnd￿lOn$ 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 ￿l4￿rg 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 recU￿ry pD5ition. Irrtco￿raEIe VAT is charged to the Ststement of Financi￿ Activities as it is incurred under a separate headin8. Abbeycroft Leisure NOTES TO THE FI￿ANCIAL 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 equI￿ent 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¥* i*hrs approXmati￿to0WrtershIp 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 lea￿nE 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 u￿n acquisltion5 represents payments.made by the Chartiable G*npany in anttdpallon of future econLrnic beneflt5 from a55ets that cannot be [dentsf￿d Indmdualtyand ca￿￿t 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. T￿SIble & Int￿ble 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 wa*ht 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 debt￿5 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 fvknbe￿ft Enterwises Li￿d 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 provi￿OnS 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 am￿TrI due to settle the tsbli8atioN ¢¥n be measured or estimated reba14y. Creditor$ and rytWiSi•h$ I￿ normally reco8nised at th*r settlernent amount after allowirrf for any trade distouThtsdue_ o. Related party ¢on¢essknnary loarts Our accounting pdicyfor related Partyconces￿onwY loans rnVOl￿ rec¢yenising and measuring gjch transacknons at the exchan￿ arnovnt,whith is agreed upon by tho transacting Part￿5. The disc105ure of related party contessionary loans 1$ made in the financial statements. pro¥itlinE detalstheterNsthat drffwfrom.those that*￿Ul0 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 ￿bSequen￿Y measured at their settlernent value with the ey£eptiM of bank kn•Aswh*h a￿>jb$e￿UentIY meastwed ataM￿ti5ed cost usingthe effectib* bntere5t method. q. FundsstHxturÈ The Ch4ritatrAe CompanVs d￿gnated fund5 are to purchase fixed a55ets f￿ the Lo5ure Cent￿5 and other operational centres and for the furtherarte of Abbwoft Leisur¥s stratwc de¥elDpment and growth. DE5ignated fvnd5 are unrestrirted funds of the Charitable Company. A desgnated fund is used to separately identlfy the defined benefii pen￿0Th scheme balan￿. Donated assets ale valued at cost and deweclaied In Ilne with the Fdicy detalled In 5ethon I thrLwh a movanent In funds. Unrestricted funds are Rrants and other Income recavable or eenerared for the oblects ol Charitable Company wfjihouifurther 5pedfled purp05es and areavailolle as general fLmds. Restricted fund5 zre grants and othèr Income rett￿b[* orgenerated for specific ackn caffled wt by the Charitat4e Company. r. Ptn$lC￿ tosfs The charl￿ble Compary operate5 a defined conulburlon xherne. Penslon costs In respect of ihe defined contrIbU￿On scheme are charged to the relewant expenditure headingwlthln the consolidated Statementof FlThancial ktr¥it￿5 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 I￿￿ee5 mènaged pri)fe55ionallv. pen￿Dn 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 prOJe￿ed unit credit meth￿. The present value of the defined benefit oblig*￿n is determIr￿d ty (%scountI￿ the estimated future cash outnows using Interest rates of high-quality corpora* bondsthat a￿denomInated in the ar￿nCy 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 S￿Me 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 immedi*ely 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 definrffiolk County CourKil defined benefli pension stheme under an admitted boty 5t3tu& The stheme is a mulii*mplryer defined benefit final 5314ry scheme where the share of the assets and liabilities applicable to each emFloyer ha5 been ithitrfied by thescheme Actuaryln this finanaal vear. The SCI￿rne is 3dministered for the benefit of Local Avthority employees and other b¢)dles and Is managed In aCCord￿ce virh the Local G(y4ernment Pension Schare RewlatK•n$ 1997 amended). At the year-eThd theTe were 36 Abbèycroft Leisurt employees in the scherne12022= 36 wnployeesl. The ￿hem￿S assets are held separately ftom the assets of the Trust Contrlbuuons totalung £32.45912022.' E31,9141 were pay*le at year end and are Induded withln creditors at the reporting date. The Informatlw used for thls dlx]osure has been based the most re￿nt acruarial valuatirjn on 31 March 2022. by Hymans Robertson LLP. to tdke acco￿1 of the requitErnents ol FRS102 In order to 35se55 the Irabilities of the Fund a5 at 31 March 2023. 33 .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 eXper￿e 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 CDntrIbu￿Ons 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 report￿8 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 Dlrtrlttc￿ncll Pension 5th West Suffolk c￿n(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 adrn￿ed 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 benefftc*LocalAvthorltyempJoyee5 and otherbodie53nd is managed in arc(Ydan wlth the Local Go*mment pe￿lOn Stheme fteÉulaYon$ 1997 las amendedl. At the ￿ar￿nd 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 sTATEME￿rs for the year ended 31 March 2023 -ch inth r￿l￿e0 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 inte￿t 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 year*niJ there were OAbbeyuoft Leiswe ernpl¢yeesln the ￿heMe{2022.. 1 ernployeel. The kheme's assets are held separate￿frOM the assets ofthe Tr(Jst. Contributions totalling£f4il12022.- £3361 were paYa￿t 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-Mort￿1 31 Marth 2023 Male Female Current pensioners FL4ture pensioners 31 Marth 2022 Current Pen￿onerS 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 $150 omount¢hu ed to thestotement n1v￿l￿rtivrt 2021 2022 Current 5èNce cost Interest expense sinthe resent volue o thede 2023 2022 rrJ)O 14341 Defined benefit obligation at i Awil Current 5er¥ice cox Intere# expense contrib￿10n$ 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 i1￿luded 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 re￿th 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 COU￿11 FO￿5t Heath Distrirt Courtcil and Baber Distrirt Council Pen*on 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￿$t expen* Ernp5oyer Contributions Interest income Net acbJarial Itossesllgains Restriction to pension atset ceiling IDeficitllsurrAus at the end of the ye3r (1740) 142881 201 611 14761 159) 13391 12651 (1351 182 175 1,932 IS581 1831 11081 {53J 11161 141 12591) 14.9Ql (420) 15631 14741 13821 18t 211 40L 277 2,827 261 4.545 15251 140 826 69 11.6771 13.2021 12,74101 1531 12,592 37 Abb."eycroft Leisure NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023 151 Tajation The Charitable Companywa5 Vamted Charrta￿e statuson S Detember I￿)6. The company i5ron5id*red to pass thetests set oul in Paragraph I Schedule 6 of the Finan￿ Art 2010 and therefore it ￿￿etsthe definition of a charitable company for UK corporation tax purposes. Accordingly. the cornpany is potentialty exernpt from taxatityn in respe£t of income or cawtal gains received vAthin categorie5 covered ty thapter3 Part 11 of the corporati￿ Tax Acl 2010 or Seciion 256 of the Taxation of Chw8eablo Gains 1991 to the extent that such irLome or gains are appked ÈxdusN@Iyto charitable ptjrptsses. 161 I1rta￿1bIe a55ets (Group and tharttyl GoodvAI Soft￿re Total Cost As at l April 2022 Disposals A$ 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] T￿Ible 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?￿8￿j 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.$88 2.469.409 339.452 127.9431 2.780.928 342,175 NetI￿0k ¥4lu• As at 31 March 2023 84.715 201,195 535.020 820J30 As èt 31 Mèrch 2022 117.551 241,905 653,477 1,012,933 18) Investments Abbe￿r9ft Lei5uie purcha￿ ICQ ordinwy shares in Abbe￿Oft Enterprises Ltd (company number 105914901 on 22 February 2018 rn Cash. Abbeycroft Leisu re NOTES TO ThE FIMNCIAL STATEMEwrs forthe year ended 31 March 2023 191 st￿ks Group 2022 2013 2022 Bar and café 5portS Equipment Badges and certificates io.n4 7.516 602 2,052 2.052 S.638 8.292 7.516 8.9S4 2.654 201 Debtors Clwlty 2023 2022 2023 2022 Trade dEbto Prepayrnents and acuued incc*r Otherdebtors Amounts owed by grwp undertakJrtBs 144,417 332.430 207,631 205.081 6,571 184.548 13A62 323.453 406,797 442.157 21) Credltorn aThUntsfaIli￿ duewlthln one¥tsr 6roup 2023 Z022 zou 2022 Trade cr￿11015 Acrrua15 Other ueditors other tsxesand social securtty Deferred income (see note 221 Amounts owed to group VAdtrtakn'ngs 555 nL756 941266 528520 65.634 90.467 17L276 534,166 9(V)A76 523,317 65.634 79.CQi 171.276 63,681 146.964 541.061 544061 621 1,977,873 1039350 L79&163 1,748,704 221 Creditors: •munts f•lll#¢due •fterone) Gr￿P Charréy 2023 2022 2022 Loan from St EdM￿d$bUry BLYou8h Counol Loan from St Edmundsbury Borough Coul￿[ terni$ of repayment rela(e to c0rpdrtio￿ which will req￿re 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 anr*um up.to and includin8 31 M3rth 2027 and then 2% abo¥ethe Bank of En¥and baserate or 2.5% th"the*r 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 ir*orne. 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 Ma￿h 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 T￿￿1¢r between funds B•lanc• at 31 Marth ZP23 Balarbce at I il 2022 Ac￿arial 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 ACtI￿ty Artive Communities Sporting Mernc￿leS Cornmunity Chest Explor8 Outdoors Care Homes Health Checks Pathway Grant Health Operations Warm Spacesfjrant 4.716 81,0)) 6￿39 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.$46 1698.3771 181.tJJOI 51,673 Total F￿d$ (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 Ph￿k31 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 I￿371) 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 srATEmE￿rS for the year ended 31 March 2023 RestrSrted funds During the year and in pri￿ years funds were receNed whith carr￿d restriclion5 upon thdr use. Non-performance related grants received durir* Ehis year have been recoKn￿e￿ 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 F*ysi(313Ctivity as a I￿er to help younE peuple develop a number of skills that will increase th￿r sellperatln%•aiwlths 2022 Net Incomellexpenditurel Depreclation ortisation Profiton (r￿pO￿l 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 Gen*ral ￿nd IA114￿18 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 111c￿l 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 I433￿1} {29￿00) 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 lan￿at 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 Is0x￿O Subtot*l Lknrutsicled Funds 8.905J25 29.000 90.088 Restrfrted Fund Stand Tall Projett Make Your M*y4e Exe￿1$e on Referral Lloyds Bank Bond Attive Mums Project Hadleigh Dtrneniia Aj￿alKe Fit and Fed Suffolkcommunity Foundation Sport Inequalities Fund Inspi￿ fAr6s Outdoorcommunlty Prwam Active Scho(As Pro8ram Summer 21 S￿rn 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 s￿39 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 {433.6￿1) 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 I92￿0* 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￿* 5oFAbyf￿ld Re5trfc¢ed nds Unre5trfrted Funds Total 2022 Intome Irom: D￿allonS and grants Charitable actiwties hertradlng attl￿treS 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 i￿ome/(eXPe￿IttUleI 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