| PAGE | |
|---|---|
| SCHEDULE OF ADVISORS | |
| CHAIR'S STATEMENT | |
| TRUSTEES' ANNUAL REPORT AND REPORT OF THE | 3-6 |
| DIRECTORS | |
| INDEPENDENT AUDITORS' REPORT | 7-8 |
| STATEMENT OF FINANCIAL ACTIVITIES | |
| SUMMARY INCOME AND EXPENDITURE | 10 |
| ACCOUNT | |
| BALANCESHEET | |
| NOTES TO THE FINANCIAL STATEMENTS | 12 - 17 |
| furth | er the Trust's aims in the context |
ofreduced financial support |
from t | he | Coun | ciL | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| The | Charity's stratogies for achieving |
its objectives are: | |||||||||||||||
| ~ | To ensure that the Council's | leisure facility management | operator | delivers | the | service in accordance | with all contractual | ||||||||||
| documents and any performance targets agreed from time |
to time | ||||||||||||||||
| ~ | To work jointly with other |
public and private leisure service |
operators | in order | to contribute | to | the co-ordination | of | |||||||||
| borough-wide service delivery |
where possible | ||||||||||||||||
| To co-operate in joint working initiatives with individual |
organisations | or wider | partnerships | which | contribute | towards | |||||||||||
| achieving the Trust's facility |
management objectives |
||||||||||||||||
| ~ | To work with Bolton MBC |
to ensure that opportunities |
to enhance | leisure | facilities | through | capital investment |
are | |||||||||
| maximised | |||||||||||||||||
| ~ | Fulfil awider strategic role within the Borough | ||||||||||||||||
| ~ | To generate additional resources through fund raising and |
securing grant | aid in | order | to further the | objectives ofthe | Trust | ||||||||||
| To contribute to borough-wide |
partnerships involved in community |
leisure | and | social | development | ||||||||||||
| To manage the resources ofthe Trust as cost effectively |
as possible and | maximise | financial resources |
to be applied to | the | ||||||||||||
| Trust's objectives | |||||||||||||||||
| To achieve high standards of | integrity, probity and efficiency of |
the | Trust's | operations | |||||||||||||
| To ensure that there are a sufficient number ofTrustees and that |
they have | the | necessary | skills to | represent the interests |
of | |||||||||||
| the wider community |
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| Notes | Funds f |
Fundsf | 2023 f |
2021 | |||
| Income and endowments | from | ||||||
| Grants | 2,560,491 | 2,560,491 | 2,515,389 | ||||
| Charitable activities |
|||||||
| Leisure Centres | 4,985,167 | 4,985,167 | 2,333,498 | ||||
| Investment Income |
|||||||
| Tetal | 15 | 7.4.68 | - | . 4 68 | 4.848,847 | ||
| EXPENDITURE ON | |||||||
| Charitable activities |
|||||||
| Cost ofsales | 4 | 75,364 | 75,364 | 44,420 | |||
| StaH related | I | 4,145,820 | 4,145,820 | 2,695,903 | |||
| Building related | 6 | 1,562,771 | 1,562,771 | 655,962 | |||
| Services | 1 | 164,936 | 164,936 | 121,455 | |||
| Administration | 8 | 779,676 | 779,676 | 489,396 | |||
| Investment | 9 | 225,603 | 225,603 | 135,362 | |||
| Other expenditure | 10 | 460,051 | 460,051 | 653,931 | |||
| 7,414,221 | 7,414,221 | 4,796,429 | |||||
| Governance Costs |
75,263 | 75,263 | 77,439 | ||||
| Total | 15 | 7. 9. 4 |
7.489,484 | 4. 7 .8 | |||
| Net income/(expenditure) | 68 | ||||||
| Net Movement in Funds |
56,174 | 56,174 | (24,981) | ||||
| Fund balances | |||||||
| at I January 2022 | 243,871 | 243,871 | 268,852 | ||||
| at 31 March 2023 | 300,045 | 300,045 | 243,871 |
| 2023 | 2021 | |||
|---|---|---|---|---|
| f. | ||||
| Gross lnrome ofcontinuing | operations | 7,545,658 | 4,848,887 | |
| Total expenditure ofcontinuing operations |
(7,489,484) | (4,873,868) | ||
| Net income/(expenditure) | for the financial | period | 56,174 | 24981 |
| 2023 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Notes | |||||||||
| Fixed Assets | 12 | ||||||||
| Current Assets |
|||||||||
| Stock | 28,104 | I 1,264 | |||||||
| Debtors and | prepaymenls | 13 | 172,964 | 611,138 | |||||
| Cash at bank | and in | bnnd | 769,796 | 998,263 | |||||
| 970,864 | I 670665 | ||||||||
| Current Llnhllittcs |
|||||||||
| Credilorst Amouats |
fnging | ||||||||
| due wnhin one year |
14 | 670,819 | 1,376,794 | ||||||
| Net Current | Assets | 300,045 | 243,871 | ||||||
| Net Assets | |||||||||
| Funds | |||||||||
| Itcstricted funds | 15 | ||||||||
| Unrestricied | funds | 15 | 300.045 | 743,871 | |||||
| rr | 1 11 |
| GRANTS | 2023 | 2021 |
|---|---|---|
| 8 | ||
| Bolton Council | 2,560,491 | 2,065,442 |
| JRS and other income | 449,947 | |
| 2,560,491 | 2.25l5.n | |
| LEISURE CENTRES | 2023 | 2021 |
| 8 | 8 | |
| Wetside | 2,243,166 | 1,129,324 |
| Dryside | 312,046 | 136,963 |
| Isospa | 123,939 | 48,686 |
| Isospa —membership |
2,162,741 | 957,598 |
| Food and beverages | 75,931 | 26,504 |
| Admission fees |
1,158 | 11 |
| Other mcome | 68,892 | 41,997 |
| Cash variances | (2,706) | (7,585) |
| 4995 I I | 2333492 |
| 4. | COST OF | SALES | 2023 | 2021 |
|---|---|---|---|---|
| 8 | ||||
| Food and beverages | 43,685 | 20,034 | ||
| Other saleable items | 31,679 | 24,386 | ||
| 7 .364 | 44426 | |||
| 5. | STAFFRELATED | 2023 | 2021 | |
| 8 | ||||
| Salaries and wages | 3,464,435 | 2,256,747 | ||
| Employers | liability | 500,844 | 354,783 | |
| Other staff | costs | 110,681 | 60,145 | |
| Agency/SE | Staff | 69,860 | 24,228 | |
| 4,145,820 | 2,695,903 |
| BUILDING RELATED | 2023 | 2021 | |
|---|---|---|---|
| Repairs and maintenance | 737,653 | 218,755 | |
| Utilities | 705,248 | 355,947 | |
| Cleaning | 113,362 | 76,935 | |
| Other | 6,508 | 4,325 | |
| .56 .771 | 655.96 | ||
| 7, | SERVICES | 2021 | |
| 8 | |||
| Marketing | 77,222 | 89,G67 | |
| Machine hire | 4,837 | 910 | |
| Consumables | 76,315 | 26,184 | |
| Other | 6,562 | 4,G94 | |
| 164936 | 12,455 |
| g. | ADMINISTRATION | ADMINISTRATION | 2023 | 2Q21 |
|---|---|---|---|---|
| 6 | ||||
| Communications | 14,950 | 11,419 | ||
| Bank charges | 21,538 | 8,442 | ||
| Other | 268,504 | 219,511 | ||
| Unrecoverable VAT |
474,684 | 238,593 | ||
| Depreciation | 11,431 | |||
| 779.676 | 9. 9 | |||
| 9. | INVESTMENT | 2023 | 2021 | |
| 0 | 0 | |||
| Other | 225,603 | 135,362 | ||
| 22 693 |
337.362 | |||
| 10. | OTHER EXPENDITURE | ZQ23 | 2021 | |
| 8 | Q | |||
| Overhead recharges |
234,669 | 249,388 | ||
| Insurance | 51,620 | 69,035 | ||
| Management fee |
173,762 | 84,458 | ||
| Surplus repayable | to Bolton Council | 251,050 | ||
| 460,051 | 653,931 | |||
| 11. | GOVERNANCE | COSTS | 2Q23 | 2021 |
| K | 0 | |||
| Legal and professional | 71,993 | 74,164 | ||
| Auditors remuneration |
3,270 3,275 77,63»,439 |
| NOTES | TO THK FINANCIAL STATEMENTS (Continued) | ||
|---|---|---|---|
| FOR THK PERIOD I JANUARY 2022 TO 31MARCH 2023 | |||
| IE | TANGIBLE FIXEDASSETS | ||
| Plant and | |||
| machinery | |||
| etc | |||
| COST | |||
| At 1 January 2022 | 18,152 | ||
| Additions | |||
| At 31March 2023 | 18,152 | ||
| DEPRECIATION | |||
| At 1 January 2022 | 18,152 | ||
| Charge for the period | |||
| At 31 March 2023 | 18,152 | ||
| NET BOOK VALUE | |||
| At 31 March 2023 | |||
| At 31 December 2021 | |||
| 13. | DEBTORS | 2023 | 2021 |
| 8 | 8 | ||
| Trade debtors | 37,696 | 224,997 | |
| Other debtors | 311,255 | ||
| Prepayments and accrued income |
135,268 | 74,886 | |
| I .964 | |||
| 14. | CREDITORS: AMOUNTS FALI.ING DUE WITHIN ONE YEAR | 2023 | 2021 |
| 8 | 8 | ||
| Trade creditors | 83,719 | 42,527 | |
| Taxation and social security | 63,293 | 49,689 | |
| Accruals and deferred income | 523,807 | 1,284,578 | |
| 6 9.419 | 1,376,794 |
| Balance | Movement | ia funds | Balance | ||
|---|---|---|---|---|---|
| 01.01.22 | Incoming | Resources | 31.03.23 | ||
| Resources | Expended | ||||
| Restricted Funds | |||||
| Unrestricted | Funds | 243,871 | 7,545,658 | (7,489,484) | 300,045 |
| Total funds | 243,871 | 7,545,658 | (7,489,484) | 300,045 |
| ANALYSIS OFNET ASSETS BETWEEN FUNDS | ANALYSIS OFNET ASSETS BETWEEN FUNDS | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| Funds | Funds | Funds | ||
| Fund balances | at 31March 2023 | |||
| are represented | by: | |||
| Fixed assets: | ||||
| Current assets: | ||||
| Stock | 28,104 | 28,104 | ||
| Debtors and prepayments | 172,964 | 172,964 | ||
| Cash at bank | 769,796 | 769,796 | ||
| Current liabilitiert | 670819 | 670,819 | ||
| Net assets | 300.04 | .04 |