Charity Registration No. 1118018 Company Re8iStration No. 05995921 (England and Walesl SOUTH 8RisfoL SPORTS CENTrE ANNUAL REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 BUSINESS ADVISORS &AceouNTANTS Premier House 127 Duckmoor Road Ashton Gate 8ristol England BS3 2BJ
SOUTH BRisfoL SPORTS CENTRE CONTENTS Pa8e Company information Trustees, report Independent auditor's report 8-12 Consolidated statement of financial activities 13 Consolidated balance sheet 14 Charity balance sheet 15 Statement of cgsh flows 16 Notes to the financial statements 17.39
SOUTH BRISTOL SPORTS CENTRE LEGAL AND ADMIN15fRATIVE INFORMATION Trustees Mr l Laycock Mr T Smallwood Mr L West Ichaimianl Mr G Morris (Appointed l March 20231 Secretary Mr J S Laycock Senior Mana8ement/Leadership Team Mrm Sach, General Manager Charity number 1118018 Company number 05995921 ReBlStered office South Bristol Sports Centre West Town Lane Bristol BS14 9EA Registered offlce South Bristol Sports Centre West Town Lane Bristol BS14 9EA Auditor TCGroup Premier House 127 Duckmoor Road Ashton Gate Bristol England BS3 2BJ 8ankers Barclays Bank PIC Newbriek Road Stoke Gifford Bristol BS34 8TN
SOUTH BRISTOL SPORTS CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report and financial statements for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting polities set out in the notes to the financial statements and comply with the charitable company's Memorandum of Association, the Companies Act 2006 and -Accounlin8 and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021~ las amended for accountin8 period5 commencing from I january 20161 Objectives and activitie$ The South Bristol Sports Centre. a non-profit making organisation. was set up in 2006. Pollcles and objectives The charity's objectives are.. To advance the edLtcation and health of the general public and. in particular, children and youn8 people Ihrough the provislon of sportinB. leisure and recreational facilities for the community in or near 8rlstol or elsewhere to develop their physical and mental capacities: and Other incidental or associated artivities for the benefit of the community- The charity furthers these objectives by improving and runnin8 the South Bristol Sports Centre, which consists of playin8 fields, changing rooms and refreshment facilities on both the north and south side of Wesl Town Lane the south of 8ristol. The charity has a wholly owned subsidiary. South Bristol Sports CIC, and throughout this report the charity and Its subsidiary are Collectively referred to as'the 8roup'. South Bristol Sports CIC runs the sport5 centre on behalf of the charitv. Strate8ies for achievin8 objectlves The principal objectlve of the charity is to entourage sporting actNlties in or near Bristol provlding sultable facilities for as wide a range of sports as is practicable. After 17 years in operation the Centre has firmly established itself as one of the premier sporting and soclal venues In Bristol. It is a community hub that provides a diverse range of facilities ranging from outdoor 5POrts pitches, indoor squash courts. gymnasium, function facilities and a sports bar to a wide range of user groups. The Centre also offers several programmes to benefit the local community, such as exercise and fitnes5 cla55es, art projects, dance, and football. There are also established 8roup5 that utilise the facilities including schools, football and rugby teams and ihe Robins foundation. The centre is recognised as one of the leading football provision facilities in the country and has been awarded with the National Recognised Flagship Status.
SOUTH BRISTOL SPORTS CENTrE TRUSTEES, REPORT IINCLUDING DIRECTORS. REPORT) ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Site participations levels are high with ovef 4,5c people using the centre each week. Participation in competitive sport also encourages team building and community cohesion. particularly as the centre also acts as a meetin8 place and focus for the area. The Trustee5 tonsider that no-one is unreasonably excluded from the activities of the centre due to inability to pay for the services and they set prices at a level that is only intended to cover costs and provide for replacement of assets. They also take account of the etonomic and social structure of the community they serve. The Centre has established itself as one which provide5 facilities at a duced rate to local Schools and Academies and has been extremely successful in tem15 of the provision it offers. With just under 1,000 children making use of the facilities each week in activities such as inter school leagues, tournaments, courses and coaching camp5, It is proven to have been successful in providing schools Wlth facilities that they couldn't offer thernselves. The charity goes from strength to strength with 2023 seeing continued growth through both utilising the existing facility and expending the offering. It is obvlous from the different organisations that now use the Centre how the impact is often much wider than sport alone, il continues to establish a sense of belonging with the community which 15 Vltally important as we see communities under increased pressure, manifesting itself in undesirable chararteristiCS. The Trustees continue to be proud of their established sensory room installed (iuring 2022 and the p•rtnefshlps bullt with other like-minded organisations, enabling the charity to fulfil the need to serve children and adults with disabilitie5 in ihe form of a state of the art sensory room. After the charity successfully restructurin8 a repayment plan for all investors during 2022, we have now proven to be able to rneet all of their charity's financial commitments to date. providing Trustees with confidence the current operational structure will support the growth set out within the 2025 budget. Public benefit In setting objettives and plannlng for attivities. the Trustees have 8iven due consideration to general guidance published by the Charity Commission relating to public benefit. includin8 the 8uidance'Public benefit.. running a charity IPB21'. The Trustees confirm that they have complied with the requirements of Sertion 17 of the Charities Att 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Risk mana8ement The Trustees ceIve an updated risk register on a quarterly basis. The risk register contains an action plan to mitigate the risks identified and the Trustees regularly review the progress of the agreed actions.
SOUTH BRISTOL SPORTS CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUEDI FOR THE Y&4R EAIDED31 DECEMBER 2023 Achievements and perforn)an¢e Financial review The results for the year are shown in the Consolrdated Statement of Financial Activitie5. During 2023 the trading company made a profit of £116.16312022- deficit of £40,623) and reduced the negative reserves from £248.808 at the end of 2022 to £132,645 at the end of 2023. Based on the current f0caSt the Trustees aim for the subsidiary to retum to positive reserves during 2024. The budget 5how5 suffitient banking facilities to support the required working capital. The Trustees closely monitor the performance of the business and current performance is in line with these expettations even though the trading subsidiary was only just started to trade after reopening. For these reasons. the continued support of our investors and bank the Trustees consider it appropriate to prepare the accounts on a going concern basis. The charity'5 subsidiary made a 8ift ald payment to the charity from its profits amountln8 to £NII12022.' £NIII. Policy on reserves The group's reserves as at 31 December 2023 amounted to £577.810 12022: £574,5871 of whlch £306,987 12022.. £371,788) related to restricted funds, leaving the syrpltjs of £270.82312022.' 202,7991 in unrestricted funds. There are no free reseNes Iihose not lied up in fixed assets). The Trustees have a policy of holding free reserves equal to the months expenditure. It is hoped this level of reserves can be reached within the next three years. Investment pollcy and objectives After the fire, the Trustees in the short term do not plan to invest but focus on the sustainability of the charitv and repay loans due to investots.
SOUTH BRIoI SPORTS CENTRE TRUSTEES, REPORT IINCWDING DIRECTORS, REPORTI {CONTINUEDI FOR THE YEAR ENDED31 DECEMBER 2023 Plans for future periods Aims and key objectives for future periods After reopening the centre during August 2020 all effort went into bUIlding the community hub and maximislng every opportunity to create a stable income stream, this was achieved during 2023. The charity continues to look for opportunities to impact people's lives. All other opportunities will be considered seriousty, and action taken as appropriate. Going concern The Trustee5 are not aware of any material uncertainties that could cast a significant doubt about the group continuing to adopt the goin8 concern basis accounting. Due to the centre'5 reputation the Charity'5 been able to obtain grants directly or indirectly through the Robin5 Foundation. 2024 actuals have proven to sutceed the budget providin8 much confidente, the Trltstee's have built a prudent forecasting models until the end of 2025 to demonstrate the group's sustainability, the continued sUPPOrt of the charity's investors are fundamental to enable the chaflty to be sustainable. Structurei governance and management Nature of 8overnln8 dUment The charitv 15 registered as a charitable company (charity number 11180181 limited by guarantee and was set up by a Memorandum of Association dated 13 November 2006. The charity is re8lStered in England and Wales. The principal object of the charity is to encourage sportin8 activities in or near Bristol by providing Sultable facilities for as wide a range of sports as is practical. Trustees: Mr J Laycock Mr T Smallwood MrPSkipp Mr L West Ichairmanl Mr G Morris (Resigned 4 April 20231 IAppointed l March 20231
SOUTH BRISTOL SPORTS CENTRE TRUSTEES, REPORT IINCLUDING DIRECTORS, REPORT) {CONTINUEDI FOR THE YEAR ENDED31 DECEMBER 2023 Re¢ruitment and appointment of trusiee5 The following bodies have the right Ibut not obligation) to appoint trustees: University of the West of England. Bristol. and John Laycock is required to appoint one trustee and may appoint a further three. All CUrnt Trustees have been appointed by John Laycock. Bristol City Council nominated one individual to attend Trustees, meetings and represent the interests of the local authorlty, althou8h he is not a Trustee or a member of the charlty. Induction and training of trustees New Trustees are provided with appropriate induction and trainin8, considering the nature of the charity. their previous experiente in the charity sector and their knowledge of the 5POrting activities likely to be cafried out by the charity. Arrangements for settSn8 key management pefsannel remuneration rhe Trustees consider the Board of Trustees and General and Opefational Managers comprise the key management personnel of the charity in chaf8e of directin& controllin& running and opefatin8 the charity on day to day basi5. Trustees glve their time freely whilst they have disclosed all relevant interests and in accordance with the tharity's policy withdraw from decisions where a conflict of interest arises. The pay of the subsidiary's General and Operational Managers salarles are reviewed annually and normallv increased in accordance with average earnin8S. the pay is bench-marked against businesses of a similar size and nature to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles. Or8anisatlonal structure The tharity is governed by the Trustees as stated in this report: there are no sub-committees of the Trustees. The day-to-day running of the organisation is carried out by the Sports Centre's managers and staff.
SOUTH BRISTOL SPORTS CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORn ICONTINUEDI FOR THE YE4R ENDED 31 DECEMBER 2023 Statement of Trustee5' responsibilities The trustees, who are also the directors of South Bristol Sports Centre for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company Law requires the ITU5tees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of ihe charitable company and of the incom4n8 sourceS and application of resources, ineludin8 the income and expenditure. of the charitable company for that year. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistentty- observe the methods and principles in the Charities SORP; make judgernents and e5timate5 that are reasonable and prutlent: and prepare the financial statements on the going concern basis unless il is inappropriate to presume that the will continue in operation. The trustees are responsible for keeping adequate accountin8 records that disclose with reasonable accuracy at ny time the tinancial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the a55ets of the and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor The auditors TC GfOUP are deemed to be reappointed under section 487121 of the Companles act 2006. Dlsclosure of Information to auditor Each Trustee has taken Steps that they ought to have taken as a Trustee in order to make themselves aware of any relevant audit information and to establish that the tharity's auditor is aware of that information. The Trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. The Trustees have prepared this report in accordance with the provisions applicable to companies subject to the small companies regime. The annual report was approved by the Trustees and signed on its behalf by- Mr L West (Chairman) Company director and Trustee Dated.. 24 September 2024
SOUTH BRISTOL SPORTS CENTRE INDEPENDENT AUOITOR'S REPORT TO THE TRUSTEES OF SOUTH BRISTOL SPORTS CENTrE Opinion We have audited the financial statements of South Bristol Sports Centre (the 'charitable parent company'l and it's subsidiary Ithe 'group'l for the year ended 31 December 2023 which comprises the Consolidated Statement of Financial Activsties. Consolidated Balance Sheet. Company Balance Sheet, Consolidated Statement of Cash Flow and the notes to the financial statements, includin8 a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kin8dom Accountin8 Standards, including Financial Reporting Standard 102 The FinoncAoI Reportin9 Stondord opplicoble in the UK rjnd Republic of Ireljnd Iunited Kingdom Generally Accepted Accounting Practicel. In our opSnlon, the financial statements: give a true and fair view of the state of the group and charitable company's affairs as at 31 December 2023 and of its incoming resources and application of SOurCes. for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the quirementS of the Companies Act 2006. Ba515 lor opinion We conducted our avdit in accordance with International Standards on Auditing IUXI IISAS IUKII and applicable law. Our responsibilitie5 under those standards are further described in the Auditors responsibilities for the oudit of the finoncial 5totements section of our report. We are independent of the in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern We have nothing to report in respect of the fo15owin8 matters in relation to which the ISAS IUKI require us to report to you where.. the Trustees, use of the 8oin8 concern basis of accountin8 in the preparation of the financial statements is not appropriate,. or the trustees have not disclosed In the financial statements any identified material uncertainties that may cast significant doubt about the group's ability to continue to adopt the going concern basis of accounting for a period of at least twefve months from the date when the financial statements are authorised for issue.
SOUTH BRisfoL SPORTS CEKfRE INDEPENDENT AUDITOR'S REPORT ICOTrThNUED) TO THE TRUSTEES OF SOUTH BRISTOL SPORTS CENTRE Other Infomiation The trustees are responsible for the other infomiation. The oihef information comprises the information included in the annual report, other than the financial 5tatement5 and our auditor'5 report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion theOn. In connection with our audit of the financial 5taternents, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appeals to be materially misstateil. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclutle that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report In this regard. Opinlons on other matters prescribed by the Companies Act 21x16 In our opinion, based on the work undertaken in the course of the audit.. the infoimation given in the trustees. report, which includes the directors. report prepared for the purpose5 of company law. for the financial year for which the financial statements are prepared is consistent with the financial statements.. and the directors. report included within the trustees. report has been prepared in accordance wlth applicable legal requirement5. Matters on which we are required to report by exception In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report or the strategic report included within the trustees, report. We have nothing to report in respert of the following matters in relation to which the Companie5 Act 2006 reqL4irelsl us to report to you if, in our opinion.. adequate and proper accounting record5 have not been kept, or returns adequate for our audit have not been received from branches not visited by us.. or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made,. or the financial Statements are not in agreement with the attounting records and returns; or certain disclosures of trustees, MuneratIon specified by law are not made,. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small tompanies. exemptions in preparing the tru5tee5' report and from the requirement to prepare a strategic report.
SOUTH BRISTOL SPORTS CENTrE INDEPENDENT AUDITOR'S REPORT (CONTINUED} TO THE TRUSTEES OF SOUTH BRIoL SPORTS CENTRE Responsibilities of trustee5 As explained more fully in the statement of Trustees. responsibilities, the trustees. who are also the directors of the for the purpose of company law. are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the truslees are responsible for assessing the group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do $0. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to 155ue an auditor'5 report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exist5. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economlc declsion5 of users taken on the basis of these financial statements. Emtent to whlch the audit was considered capable of detectin8 irre8ularltles. In¢ludlng fraud The objectives of our audit, in respect to fraud, are: lo identify and assess the risks of material misstatement of the financial statements due to fraud,. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud. through desi8ninB and implementing appropriate responses,. and to respond appropriately to fraud or suspected fraud identified during the audil. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its mana8ernent. 10-
SOUTH BRISTOL SPORTS CENTRE INDEPENDENT AUDITOR'S REPORT {CONTINUEOI TO THE TRUSTEES OF SOUTH BRISTOL SPORTS CENfRE Our approach was as follows.. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial 5taternents from our general sector experience, and through discussion with the trustees and other management las required by auditing standards), and discussed with the trustees and other management the policies and procedures regarding compliance with laws and regulations Isee belowl; We identified the following areas as those most likely to have such an effect.. health and safety,. General Data Protection Regulation IGDPRI,. fraud,. bribery and corruption, and employment law. Auditin8 standards limit the required audit procedure5 to identify non-compliat)ce with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence. if any. The identified actual or suspected non-compliance wa5 not Sufficiently significant to our audit to result in our response being identified as a key audit matter. We considered the legal and re8ulatory frameworks directly applicable to the flnanclal statements porting frarnework IFRS 102, the Companies Act 2006 and the Charities Act 20111 and the relevant tax compliance regulations in the UK,. We considered the nature of the group's operations, the control environment and financlal performance. We communicated identified laws and regulations throughout our team and mained alert to any indications of non-compliance throughout the audit,. We considered the procedures and controls that the group has established to address risks identified, or that otherwise prevent, deter and detect fraud,. and how senior manaBement monitors those programmes and controls. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk wa5 considered to be higher. we performed audit procedures to address each identified fraud risk. These procedures included testing manual journals; reviewing the financial statement disclosures and testing lo supporting documentation; performing analytical procedure5,' and enquiring of management, and were desi8ned to provide aSOnable assurance that the financial statements were free from fraud or error. Owing to the inherent limitations of an audil, Ihere is an unavoidable risk that we may not have detected some material rni55talements in the financial statements. even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations lirregularitiesl is from the event5 and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing stanilards would identify it. The risk 15 also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment, forgery. collusion, omission or misrepresentalion. We are not responsible for preventing non-compllance and cannot be expected to detect non-compliance with all laws and gUlatiOns. A further description of our responsibilities is available on the Financial Reporting Council's webslte at.. htt www.frc.o Our-wor Audit Audit-and-assurance Standards-and- vidance Standard5-and- uidance-for- auditors Auditors-res onsibililies-for-audit Descri tiorb-of-auditors-res onsibilities-for-audit.as description forms part of our auditor's report. This Irregularities. including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. 11
SOUTH BRISTOL SPORTS CEKfRE INDEPENDENT AUDITOR'S REPORT ICONTINUEDI TO THE TRUSTEES OF SOUTH BRISTOL SPORTS CENTRE Use of our report This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2CX)8. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors, POrt and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body. for our audit work, for this report, or for the opinions we have formed. Amanda Kruger FCCA Isenior Statutory Audltorl for and on behalf of TC Group Statutory Auditor Office.. 8ri5tol Premier House 127 Duckmoor Road Ashton Gate Bristol BS3 2BJ 24 September 2024 12-
SOUTH 8RISTOL SPORTS CENTRE CONSOUDATED BALANCE SHEEr AS AT310ECEMBER 2023 2023 2022 Notes Fixed a55etS Tangible a55ets Current assets Stocks Debtors Cash at bank and in hand 1.204.126 1.350.088 15 10,721 28,679 98,251 12.418 23.135 36,445 16 137,651 71,998 CredStors.' amounts fallln8 due wlthln one year 17 1298,4881 1256,4671 Net current liabilities 1160,8371 1184,4691 Total assets less Current liabllltSes 1,043,289 1,165,619 Credltors: amounts fallln8 due after more than one year 19 1465.4791 1591,0321 Net assets 577,810 S74.S87 Income funds Restricted funds- general Unrestricted funds 306,987 270,823 371,788 202,799 577.810 574,587 These financial statements have been prepad in accordance with the provisions applicable to tompanies subject to the small companies regime. The financial Statements were approved by the Trustee5 on 24 September 2024 M¥ L West (Chairman) Company dirertor and Trustee Company Registration No. 05995921 14-
SOUTH BRISTOL SPORTS CENTRE CONSOLIDATED STATEMENT OF FINANCIAL AcnvmES INCLUDING INCOME AND EXPENDITiJRE ACCOUNT FOR THE YEAR EAIDED 31 DECEMBER 2023 Unrestricted Restrirted funds funds general general 2023 2023 Total funds Total funds 2023 2022 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Other income 27.c0 577.815 693.177 27.000 577,815 693,177 26.304 75,400 523,107 478,944 20,250 26.304 Total income 1.297.992 26.304 1,324,296 1,097,701 endlture on: Raising funds 1,208.241 1,208,241 996,419 Charitable activlties 48.031 64.801 112,832 114,349 Total resources expended 1.256.272 64.801 1,321,073 1,110,768 Net in¢omlnB/lout8oin81 resources before transfer5 41,720 138,4971 3,223 113,0671 Gfoss transfets between funds 26.304 126,3041 Net Income/lexpendilure} for the yearl Net movement in funds 68,024 164.8011 3,223 113,0671 Fund balances at l January 2023 202,799 371,788 574,587 587,654 Fund balances at 31 December 2023 270,823 306,987 577,810 574,587 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derwe from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companie5 Act 2006. 13-
SOUTH 8RisfoL SPORTS CENTRE CHARITY BALANCE SHE AS AT31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Investments 12 823.610 930,233 823,611 930,234 Current assets Debtors falling due within one year Debtors fallin8 due after one year Cash at bank and in hand 16 16 117,855 447,586 19,429 117.561 563.971 19.767 584,870 701,299 Creditors.. amounts fallin8 due withln one year 17 1250.4381 1244,1651 Net current assets 334.432 457,134 Total a$set$ less current Ilabllltles 1.158.043 1,387,368 Creditors.. amounts fallln8 due after more than one year 19 1447,5861 1563,9721 Net assets 710,457 823,396 Income funds Restricted fund5 general Unrestricted funds 306,987 403.470 371.788 451,608 710.457 823,396 These financial statements have been ppared in accordance with the provisions applicable to companies subject to the small companies girne. The financial statements were approved by the Trustees on 24 September 2024 Mr L West Ichairmanl Trustee Company ReElStration No. 05995921 15-
SOUTH BRISTOL SPORTS CENTRE CONSOLIDATED STATEMENT OF CASH FLO¥VS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from operating activities Cash 8enerated from operations 26 214,173 180,699 Investing activities Purchase of tangible fixed assets 126,8131 186.5741 Net tash used In Investlng actlvltles 126,8131 186,5741 Financln8 actlvltles Repayment of borrowings Repayment of bank loans 1116.3871 19.1681 180,9651 110,7851 Net cash used In finan¢ln8 activities 1125,5541 191,7501 Net Increase In cash and cash equivalents 61.806 2,375 Cash and cash equivalents at beginning of year 36.445 34,070 Cash and cash equlvalent5 at end ot year 98.251 36,445 16-
SOUTH BRISTOL SPORTS CENTRE CONSOLIDATED STATEMENT OF CASH FLOWS ICONTINUEDI FOR THE YEAR EAIDED 31 DECEMBER 2023 Crltical accounting estimates and judgements In the application of the 's accounting policies. the trustees a required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and assotiated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and fvture periods where the revision affect5 both current and future periods. Critical area5 of judgement: The Trustees have made assumptlons around the amount of depCiatIon to charge on the 5.aside pitches, assuming the lease renewal is granted to extend the lease to 25 years rather than over the remaining 10 years as at the time of capitalisation. Accounting policies Charlty Information The charity is limited by share capital. incorporated in England and wales. The address of its registered office and principle place of business 15: West Town Lane Bristol BS14 9EA 17-
SOUTH BRISTOL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR fHE YEAR EAIDED 31 DECEMBER 2023 Accounting policies (Continued) 2.1 Accountin8 convention Summary of si8nificant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. ststement of fompliance The con501idated financial statements of the group and parent charitable company have been prepared in accordance with Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finantial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20151- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2006 and Charities Act 2011. Basi5 of preparatlon South Bristol Sports Centre meets the definition of a publlc benefit entity under FRS 102. A55ets and liabilities are initially recognised at historical costs value unless otherwise stated in the relevant accounting policy notes. Business combinations Business combinations are accounted for under the purchase rnethod. Where necessary, adjustments are made lo the financial statements of subsidiaries to bring the accounting policies used into line with those Used by the group. All intra-group transactions, balances, income and expenses are eliminated on consolidation. In accordance with Section 35 of FRS 102, Section 19 of FRS 102 has not been applied in these financlal statements In SPeCt of business combinations efferted prior to the date of transition. The financial statements a ppared in sterlin& which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. 18-
SOUTH BRISTOL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMENTS IcoiillNUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) Basis of consolidation The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertaking5 drawn up to 31 December 2022. No statement of financial activities is pSented for the charity as permitted by section 408 of the Cornpanies Act 2006. The tharity made a loss after tax of for the financial year of £112,94012022 - loss ol £53,690). A subsidiary is an entity controlled by the charity. Control is achieved where the tharity has the power to 8overn the financial and operating policies of an entity so as to obtain benefits from its activitie5. The results of subsldiaries acquired or disposed of durin8 the year are included in the statement of financial activities frorn the effective date of acquisition or up to the effective date of disposal. as appropriate. Where necessary, adjustments are made to the financial Statements of subsidiaries to bring their accountin8 polices into line with those used by the group. The purchase method of accounting is used to account for business combinations that result in the acqulsition of subsidiarles by the group. The cost of a business combinatlon Is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assurned at the date of exthange, plus costs directly attributable to the bu5ine55 combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially al their faif values at the acquisition date. Any exces5 of the tost of the business combination over the acquirer's interest in the net fair value of the identifiable assets, liabilities and contin8ent liabilities reco8nised is recorded a$ goodwill. Inter-company transactions. balances and unrealised gains on transartions between the thaiity and its subsidiaries. which are related parties. are eliminated in full. Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the grovp. Non-controlling interests in the net assets of the consolidated subsidiaries are identified separately from the Broup's equity therein. Non-controlling intestS con51St of the amount of those interests at the date of the original business combination and the non-controlling shareholder's share of chan8es in equity since the date of the combination. Total comprehensive income is attributed to non- controlling interests even if this results in the non-controlling interests having a deficit balance. 19-
SOUTH BRISTOL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMENTS ICOIfflNUEDI FOR THE YEAR ENDED31 DECEMBER 2023 Accountin8 policies (Continued) 2.2 Going concern The Trustees consider that there are no material uncertainties about the group's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the group. The charity continues to further develop new opportunities and widen existing ones. There a several grant5 available to the Charity and these are bein8 explOd further. The Trustee5 consider these actions positNe and puts them in a stronger position to improve operating surpluses. The Trustees have built prudent forecastin8 models until the end of 2025 to demonstrate the 8roup'5 sustainabilitv. 2.3 Charitable funds Fund structure Unrestricted income funds are 8eneral funds that are available for use at the trustees discretion in furtherance of the oblectives of the group. Restricted income funds are those donated for use in a particular area or for speciflc purposes, the use of which is $trIcted to that aa or purpose. Fund accounting General funds are unrestricted funds which are available for use at the dISction of the Trustees in furtherance of the general oblectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be (tsed in accordance with specific re5triclions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Restricted funds are subject to specrfic conditions by donors as to how they may be used. The purposes and Uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. -20-
SOUTH BRisfoL SPORTS CENTRE NOTES TO THE FINANCIAL sfATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) 2.4 Incomin8 resources lrtcome 8nd endowments All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income CeIvable can be measured reliablv. Donated services OT facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured lIablY. On receipt. donated professional services and donated facilities are recognised on the bas15 of the value of the gift lo the Charity which is the amount the Charity WOLtld have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount 15 then reco8ni5ed in expenditure in the period of receipt. Other income is C08ft1$ed in the period in which it is receivable and to the extent the good5 have been provided or on completion of the service. Oonations and le8a¢les Donations are retogni5ed when the charity has been notified in writin8 of both the amount and settlement date. In the event that a donation 15 subject to conditions that require a level of performance by the charity before the charity is entitleil lo the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Grants recelvable Grants are iecogni5ed when the group has an entttlement to the funds and any condition5 linked to the grants have been met. Where performance conditions a attached to the grant and are yet lo be mel, the income is recognised as a liability and included on the balance sheet as deferd income to be released. 21
SOUTH BRISTOL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMEKfs ICOIMNUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policie5 Icontinued) 2.5 Resources expended Expenditure All expenditure is Cognised once there is a legal or constructive obligation to that expenditure, it is probable that settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be direcilv attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basi5 of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raising funds These are cosls incurred in attraciing voluntary income. the management of investments and those Incurred in trading activities that raise funds. Charltable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activitie5 and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature netessary to support them. Support costs Support costs include central funrtions and have been allocated to activity cost categories on a basis consistent with the use of resources. for example, allocating property costs by floor area, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees, meetings and reimbursed expenses. 2.6 Tan8lble fixed assets Individual fixed assets costing £250.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment1055e5. Depreciation 15 recogni5ed so as to write off the cost or valuation of a55ets less their residual values over their useful lives on the following bases: Leasehold land and buildings Plant and equipment Fixtures and fittings 5-a-side pitches 4-10% straight line 10-20% straight line 25% straight line 4-7% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in net incomellexpenditurel for the year. 2.7 Fixed asset Investments A subsidiary is an entity controlled by the . Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activitie5.
SOUTH BRISTOL SPORTS CETrmlE NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 310ECEM8ER 2023 Accountin8 policies (Continued) 2.8 Impalrment of flxed assets At each reporting end date, the reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemiine the eKtent of the impairment loss lif any). 2.9 Stoc Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regaid for obsolete and slow moving Stocks. Cost is determined using the first-in, first-out method IFIFOI. Net realisable value 15 the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 2.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-lerm liquid investments with original maturities of three months or le55. and bank overdrafts. Bank overdrafts are shown wlthin borrowings in current liabilities. 2.11 Flnanclal Instruments The 8roup ha5 eletted to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial Instruments. Financial in51rurnents are cogniSed In the group's balance sheet when the becomes party to the contractual provisions of the instrument. Financial assets and liabilities a oftset, with the net amounts psented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Trade debtors Trade debtors are amount5 due from customers for merchandise sold or services performed in the ordinary couise of business. Trade debtors are recognised initially at tran5attion price . They are subsequently measured at amortised cost using the effective interest method. less provision for impairment. A provision for the impairment Df trade debtors is established when the is obje1Ve evidence ihat the charity will not be able to collect all amounts due according to the original terms of the receivables. Trade creditors Trade ¢reditor5 are obligations to pay for goods or services that have been aCqUid in the ordinary course of business from suppliers. Accounts payable a classified as current liabilities if the charity does not have an unconditional right , at the end of the reporting period. to defer settlement of the treditor for at least twelve months after the porting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-curfent liabilities. Trade creditors are recognised initially at the trnnsaction price and subsequently measured at amortised cost using the effective interest method. -23-
SOUTH BRISTOL SPORTS CEfrffRE NOTES TO THE FINANCIAL STATEMENT5 ICOlfflNUEDI FOR THE YEAR EAIDED 31 DECEMBER 2023 Accounting policies (Continued) 2.12 Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly. the charity is potentially exempt from taxation in respect of income or capital gains CeIVed within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such intome or gains are applied exclusively to charitable purp05e5. 2.13 Pensions and other p05t retlrement obligations A defined tontribution plan is a pension plan under which fixed contributions a paid into a pension fund and the trading subsidiary implemented such a scheme through NEST to compile with auto enrolment regulations. The company has no legal or constructive obligation to pay further contribution5 even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee seNice in the current and prior perSods. Contributions to defined contribution plans a recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recogni5ed as a prepayment. 2.14 Exceptlonal Items Exceptional item5 are disclosed Separate In the flnancial ststements where it 15 necessary to do so to provide understanding of the financial performance of ihe charitable company. They are item5 that are material either because of their size or their nature. or that are non tUrrIng are considered as exceptional items and are presented within the line items to which they best relate. -24-
SOUTH BRISTOL SPORTS CENTrE NOTES TO THE FINANCIAL sfATEMENTS ICONTINUEDI FOR ThIE YEAR ENDED 31 DECEMBER 2023 Donations and legacies Unrestrirted Restricted fvnds fund5 8enernl Beneral 2023 2023 Total funds Total funds 2023 2022 Donations and Bifts Other 28,000 47,400 27.C 27.CrfJ) 27.CrfJO 27,000 75,400 For the yeor ended 31 Decernber 2022 33.4 42.Cl)O 75,400 During 2023. the charity benefitted from unrestricted grants for £27,CKQ from multiple OanisatiOns. During 2022. the charity benefitted from a restricted grant from Quartet for £42,01)O and anoiher grant of £5,400. It also received donations of £28.000 from two of the Trustees. Charltable actl¥Stles Unrestrirted funds general 2023 Unrestricted funds general 2022 Sporting activities 577,815 523,107 -25-
SOUTH BRISTOL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR fHE YEAR ENDED 31 DECEMBER 2023 Other tradln8 activities Unrestricted Unrestricted funds funds general general 2023 2022 Food and beverage Insurance proceeds 692,266 911 469,630 9,314 Other trading activities 693.177 478,944 Other Income Unrestrirted Restrlcted funds funds general general 2023 2023 Total funds Total funds 2023 2022 Other grants Gift Aid Local authorlty compensation 26,304 26,304 9.250 7.000 4.000 26,304 26,304 20.250 For the year ended 31 December 2022 20,250 20.250 In 2023, the local authority provided the centre with unrestricted funds of £Nil12022: £4,OLKII lo compensate the charity after completing on and handing back the property late. In 2023, other grants provlded by a550ciations to 5UPPOrt the centre included £26,304 of restricted funds from the Football Foundation.
SOUTH BRISTOL SPORTS CENTrE NOTES TO THE FINANCIAL STATEMENTS ICONnNUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Raisin8 funds Unrestricted funds general 2023 Total funds 2022 Tradin costs Cost of goods sold Staff costs Depreciation and impairment Support costs 300,389 435,072 107,974 364,806 241,183 352,682 103,863 298,691 Trading costs 1,208,241 996,419 1,208,241 996,419 All raising funds were unrestricted for 2022. Charitable aetivitv Unrestrlrted Restrf¢ted fund fund general 2023 Total fund5 2023 Total funds 2022 genernl 2023 Sportin8 activities 48,031 64,801 112.832 114,349 For the year ended 31 December 2022 50,206 64.143 114,349 -27-
SOUTH BRISTOL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs Total funds Total funds 2023 2022 Support Go¥emance COSt5 ¢05ts Staff training and welfare Irrecoverable VAT Rent, rates and water Bank charges IT software Hire of eqLtipment Sundry expenses 8ad debts written off Light and heat Insurance Repairs and ground Costs Telephone Printing. postage and stationery Trade 5ub5criptions Cleanin8 Advertising Accountanty, bookkeeplng and payroll Legal and professional 1,371 24,490 14.557 15,683 8,697 1,606 4,058 1.731 51,278 54.469 114.674 6.867 1,834 2,727 13,002 1,393 26,512 9,238 1,371 24.490 14.5S7 15.683 8.697 1.606 4.058 1,731 51.278 54,469 114,674 6,867 1,834 2,727 13,002 1,393 26,512 9,238 16.275 11,284 12,222 8,146 1,710 4,062 49,126 39,492 80,520 6,357 2,000 5,148 12,407 2,501 25,485 11,506 Audit fees 10,620 10,620 10,000 354,187 10,620 364,807 298,241 Analysed between Trading 354,187 10,620 364,807 298,691 Governance costs includes payments to the auditors of £10,62012022- £10,(JJ)I for audit fees. 2022 included restricted costs of £lO.¢
SOUTH BRISTOL SPORTS CENTrE NOTES TO THE FINANCIAL STATEMENTS IcoMllNUEDI FOR THE YEAR EAIDED 31 DECEMBER 2023 10 Employee5 Number of employees 2023 Number 2022 Number Management and administration Operational staff 25 23 29 27 Employment costs 2023 2022 Wages and salaries Social security costs Other penslon costs 405,738 22,490 6,844 332,549 15.758 4,375 435,072 352,682 The above staff numbers equate to 1412022: 131 full time equivalents. Key management personnel includes the Trustees of South Bristol Sports Centre and the Directors of South Bristol Sports CIC. The total employee benefits of the key management personnel of the group were £Nil12022.. Nill. There were no employees whose annual remuneration was £60,C*)O or more.
SOUTH BRISTOL SPORT5 CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 11 Taxation The parent entity is a registered charity and is therefore exempt from taxation in respect of income and capital gains received with S478-489 of the Corporation Taxes Act 2020 and section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that those are applied to it5 charitable objects purposes onlv. The trading subsidiary has trading 1055e5 brought forward, thef0 no tax charge arises on trading, however non-trading loan relationship transactions are amounts chargeable to corporation tax and do not lend themselves to offset against the trading losses brought forward. Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items reco8nised in other cornprehensive income or directly in capital and reserves. The subsidiary's liability for current tsx is calculated using the tax rates and laws that have been enacled or substantively enacted at the reporting dole. Current and deferd tax assets and liabilitles are not discounted 12 Tan8ible Ilxed assets Group l•as•Ild l•nd and bulldln equlpment C05t At I13nuary 2023 Additions 2,575,865 20,033 356,993 6,780 2,932,858 26,813 At 31 December 2023 2,595.898 363,773 2,959,671 Depreciation and Impalrment At l January 2023 Depreciation charged in the year 1,425,403 104.141 157,367 68,634 1,582,770 172,775 At 310ecember 2023 1.529.544 226,001 1,755,545 Carryin8 amount At 31 December 2023 1.066,354 137,772 1,204,126 At 31 December 2022 1,150,462 199.626 1.350.088 Included within the net book value of land and buildings above is £Nil12022.' £Nill in respect of freehold land and buildings and £1,066,35512022: £1,150.4621 in respect of leaseholds.
SOUTH BRISTOL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONnNUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 13 Tangible fixed assets Charity L$•hold land and bkIl$ Plani and •qulpmeni Tot•1 Cost At I january 2023 Additions 1.905.202 20.033 340.037 6,780 2,245,239 26.813 At 31 December 2023 1,925.235 346.817 2,272,052 Depreciation and impaimient At I january 2023 Depreciation charged for the year 1,174.595 64.801 140.411 68,635 1.315,006 133,436 At 31 December 2023 1,239.396 209.046 1,448,442 Carryln8 amount At 31 December 2023 685,839 137,771 823,610 At 31 December 2022 730.607 199.626 930,233 14 Flxed asset Investments Charlty Shares in group undertakings and participating interests Subsidiary Total Undertakin8 Cost At l January 2023 and 31 December 2023 1.00 1.00 Net book value At 31 December 2022 and 31 December 2022 Detai15 of the charity's subsidiaries at 31 December 2023 are as follows.. Name of undertaking Registered office Nature of business Class of shares held % Held Direct South Bristol Sports CIC England and Wales Run5 the sports centre on behalf of the charity Ordinary 100.00 31
SOUTH BRISTOL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMENTS {COIUINUEDI FOR THE YEAR ENDED31 DECEMBER 2023 18 Loans and ovefdrafts Group 2023 Group 2022 Charity 2023 Charity 2022 8ank loans Other loans 28,333 565.147 37.5DJ 681.533 565,147 681,533 593.480 719,033 565,147 681,533 Payable within one year Payable after one year 128.CKII 465.479 128,001 591,032 117,561 447,586 117,561 563,972 19 Creditors.. amounts fallln8 due after more than one year Group 2023 Group 2022 Charity 2023 Charlty 2022 8ank loans Other borrowSngs 18 17,893 447,586 27,060 563,972 447,586 563,972 465,479 591,032 447,586 563,972 Included within the above are amounts falling due as follows.. Between one and five years Group 2023 Group 2022 Charity 2023 Charlty 2022 8ank loans Other loans 17.893 447.586 27,060 563,972 447,586 53,972 465.479 591.032 447,586 53,972 The other loans are unsecured fixed Inte$t loans which carry interest between 7% and 9% and are repayable by instalments that started during December 2018. During 2020 the company received an advance from £50. under the UK government CBILS loan scheme. The loan is for a 72 month period with annual interest of 2.5%.
SOUTH BRISTOL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONllNUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 20 Retirement benefit schemes Defined contribution schemes The trading cornpany operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately fmm those of the entity in an independently administered fund. The charge to profit or loss in SpeCt of defined contribution 5cheme5 was £6.84412022- £4,375). 21 Fund5 Group In(omlrv4 11•50urc•5 ey•en¢led Tranif•rs l J•u•ry 2023 )1 t)e¢ember 2023 Unrestrlcted funds General Restricted funds Land & buildins5 Football foundation 202.799 1.297,992 11.256,2721 26,304 270,823 371,788 164,8011 306,987 26,304 126,3041 Total funds 574,587 1,324,296 11,321.0731 577,810 •l•n¢e •t i u•y 2022 oml Msourc•s R•sourc•s •Kpend•d Tran5f•ry B414n¢e at JI D•¢embef 204 Unrestrlcted funds General 151.723 1,055,701 11,046,6251 42,C4)0 202,799 Restricted funds Land & buildings Job Retention Scheme National Lottery Community Fund 8BBL Interest Government Grant Quartet 435,931 164,1431 371,788 42.[ 142,0001 Total Restricted funds 435,931 42.LKKJ 164.1431 371,788 Total funds 587,654 1,097,701 11.110,7681 574,587 -35-
SOUTH BRISTOL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMEp¥fs ICONTINUEO) FOR THE YEAR EAIDED 31 DECEMBER 2023 21 Funds (Continued) Restricted fund Land and building fund relates to a grant received from Bristol City Council in 21 for the purchase of £1.970.096 worth of property assets. Football Foundation fund of £26.30412022: £Nill relates to a tapital grant received as a contribution to the work on the grass pitch maintenance. Quarter fund of £Nil12022'. £42.C#JOI relate5 to a capital grant received as a contribution to the work on the new sensory room. 22 Funds Charlty In¢wl i JInry 2023 •x••nd•d 31 DK•mb•r 2023 Unrestricted funds General Restrlcted lunds Football foundation 451,608 371.788 78,180 1126,3181 164,8011 403,470 306,987 Total funds 823.396 78,180 1191,1191 710,457 atsnce at i Intoml Janu•ry 2012 rdSOWC Resourt *xpend•d Trnnile 8alance at 31 D•¢emtyer lQll Unre$trlcted funds General Restrlcted fvnds 441,155 435,931 90,606 1122.1531 164.1431 42,C4JO 451,608 371,788 Quartet 42.1)JO 142,tsJOI Total funds 877,086 132.606 1186.2961 823,396 Restricted Fund.. Land and building fund lelates to a grant received from Bristol City Council in 21X)7 for the purchase of £1,970,096 worth of property a55ets. Quarter fund of £Nil12022= £42.OCiII relates to a capital grani ceiVed as a contribution to the work on the ew 5en50ry room.
SOUTH BRISTOL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 22 Funds Icontinuedl 23 Analysls of net a$5ets between funds Group Total fund 2023 Total fund 2022 Unrestricted Restricted fvnds funds general 8eneral Fund balances at 31 December 2023 are represented by: Tan8ible assets Current assets Current liabilities Creditor5 over I year 897,139 137,651 1298.4881 1465.4791 306,987 1,204,126 1,350,088 137,651 71,998 1298,4881 1256,4671 1465,4791 1591.0321 270,823 306,987 577,810 574,587 Total funds for 2023 include Restrirted Tangible Fixed Assets of É306.987 24 Analysls of net assets between funds Charity Unrestricted Restrl¢ted Total funds Total funds fvnds funds 2023 2022 8eneral general Fund balances at 31 December 2023 are represented bv.. Tangible assets Fixed asset investments Current assets Cyrrent liabilities Long term liabilities 516.623 306,987 823,610 930,233 584.870 1250.4381 1447,5861 584.870 701,299 1250.4381 1244,1651 1447,5861 1563,9721 403,470 306.987 710,457 823,396 Total funds for 2023 include Restrirted Tangible Fixed A55ets of £306.987 37_
SOUTH BRi¥foL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 25 Related party transartions Group Mr I S Laycock was appointed as a trustee and Chairman to the Board of Trustees on the 15 May 2019. Prior to becoming a trustee Mr I S Laycock 5UPPOrted the charity by way of unsecured loan bonds of £250,000. During the year, interest of £18.76812022'. £20.1921 was charged on these loans at a commercial rate in line with the charity's other external funders,. at the year end £190.46912022'. £228,722) remained outstanding. Mr L West was appointed as a trustee on 29 November 2021. Mr West is the son in law of Mr J S Laycock. Prior to becoming a trustee Mr L West was and still is a Dirertor of West & Woodbridge Ltd. During the year, West & Woodbridse Limited invoiced the charity £34.20612022'. £25.3601 for managernent, bookkeeping services and continued to SO Post year end. At 31 December 2023 the charity owed thi5 company £4.72812022.. £2,2131. During the year, the charity received £nil12022-£28,0001 in donations from Trustees. There were no other related party transactions in the year that are qUired to be disclosed. The charity is exempt from disclosing transartions with its subsidiary under provisions of FR5102, as the subsidiary is 100% controlled by the charity. 26 Cash generated from operatlons 2023 2022 Surplus/ldelicitl for the year 3,223 113,0671 Adjustments for.. Depreciation and Impairment of tan8ible fixed assets 172,776 168,006 Movements in working capital: Decreasellincreasel in stocks Ilncreasel in debtors Increase in creditors 1,697 15,5441 42,021 12,4751 18181 29,053 Cash generated from operations 214,173 180,699
SOUTH BR15foL SPORTS CENTRE NOTES TO THE FINANCIAL STATEMENTS ICOPfflNUEDI FOR THE YEAR EAIDED 31 DECEMBER 2023 27 Analysis of ¢hanies in net Idebtl/funds At Iary ZOZ3 Cash flLW15 At31 December 2023 Cash at bank and in hand 36,445 61,806 98,251 Loans fallin8 due within one year Loans falling due after more than one year 1128.0011 1591,0321 1128,0011 1465,4791 125,553 1682.5881 187,359 1495,2291