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2022-03-31-accounts

Somerset Activity and Sports Partnership (A Charitable Company Limited by Guarantee)

Annual Report and Financial Statements

For the Year Ended 31 March 2022

Company Number: 05798066 Charity Registered in England and Wales Number: 1118900

Somerset Activity and Sports Partnership Contents For the Year Ended 31 March 2022

Page
Reference and Administrative Details 1
Trustee Directors’ Report 2 – 11
Independent Auditors’ Report 12 – 15
Statement of Financial Activities 16
Balance Sheet 17 – 18
Statement of Cash Flows 19
Notes to Financial Statements 20 – 43

Somerset Activity and Sports Partnership Reference and Administrative Details For the Year Ended 31 March 2022

Trustee Directors A E Allen
J A Chidley-Sanders
A M Coates
A J Cockcroft (Chair)
G R Cox
A J Gardner
A J Randle
D J Scarratt
J Stafford
Y G Vigar
J M Whitehead
Chief Executive Officer J Knowles
Deputy Chief Executive Officer J Hannis
Office Manager M Bell (until June 2022)
Finance Officer A Britton
Charity Number 1118900
Company Number 05798066
Principal Address and Registered Office First Floor Offices
Castle Business Centre
Castle Road
Chelston Business Park
Wellington, Somerset
TA21 9JQ
Auditors Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton, Somerset
TA1 2PX
Bankers Svenska Handelsbanken
1stFloor Equity House
Blackbrook Park Avenue
Taunton, Somerset
TA1 2PX
Solicitors Ashfords
Blackbrook Park Avenue
Taunton, Somerset
TA1 2PX
Investment managers Heartwood Investment Management
No. 1 Kingsway
London
WC2B 6A

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Page 1

Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2022

The Trustees, who are also directors for the purposes of the Companies Act, present their report and the financial statements of the charity for the year ended 31 March 2022, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (SORP FRS 102) (effective 1 January 2019).

The full name of the Charity is Somerset Activity and Sports Partnership. It was incorporated on 27 April 2006 as a company limited by guarantee. Its company registration number is 05798066. Its Charity registration number is 1118900. The Charity is variously referred to throughout this report as either “the Charity”, “the Company” or “SASP”.

References and Administrative Details

Administrative information is given in a separate section at the front of these financial statements.

Directors and Trustees

The directors of the Company are the Charity’s Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

The Trustees serving during the year and since the year end are as follows:

None of the Trustees have any beneficial interest in the Company. All of the Trustees are members of the Company and guarantee to contribute £10 in the event of a winding up.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2022

Introduction from The Chair

As the country and our communities in Somerset emerged from the pandemic, so did the Somerset Activity and Sports Partnership. Activity levels across Somerset have been impacted by the range of national and tiered restrictions introduced to counter the Covid-19 pandemic since mid-March 2020. Whilst the proportion of active people has dropped at various times through the pandemic, depending on current restrictions, Somerset has remained consistent year-on-year, and appears to have been less impacted than the national average, while maintaining higher levels of activity than the national average. The proportion of inactive people saw an increase through the pandemic and while these values have not returned to prepandemic levels in Somerset, they remain less affected than the national average. There remains a clear challenge to overcome the still significant levels of inactivity remaining within the County. More worrying is the continuing level of disparity between differing ethnic groups and demographics that can lead to inequalities in health and mental wellbeing more widely.

But with a challenge comes both purpose and focus. It is clear that SASP is continuing to make a significant and positive difference to Somerset – helping people of all ages, backgrounds and level of fitness can access opportunities that will improve their wellbeing, both physically and mentally.

2022 has been an important year for our organisation in many ways, but most significantly we developed and launched our new long-term, system wide strategy – Somerset Moves. Developed through a broad consultation it focuses on our belief that everyone should have access and opportunity to the benefits of moving regardless of age, gender, race, ability, background or geography. From this, we have committed to delivering positive experiences, increased community activity, a greater connection between activity and health, a development of more active environments, a motivating influence on people and a development of leadership and partnerships.

Everyone has a role to play in Somerset Moves; people, communities, and organisations, from every sector and place across the county, pulling together with a shared goal to help people move more and improve their lives in the process. As always, collaboration and partnerships have and will continue to be foremost in our ambitions.

2022 has also been a year of growth – both in our levels of engagement, delivery of initiatives and in our staff. Our organisation now includes a wide range of specialists ready to support the community and deliver our strategy. Thanks to the financial stability earned through success, we have also been able to grow in number, with over 42 people now part of the SASP family.

In addition, we have seen a growth of investment in social prescribing using physical activity, itself a clear reinforcement of a wider understanding of the clinical benefits of activity on health and wellbeing. There has also been development and growth in our work with the Holiday Activity and Food Scheme that focusses on support for children on free school meals with the provision of over 65,000 holiday places over the year and our work with “Beat the Street” engaging over 5,000 children and adults in Taunton.

SASP’s work has never been so important as the physical and mental benefits of activity are increasingly recognised. Led by our new strategy, I am looking forward to continuing our work which stands to substantially benefit so many people. As always, it is a privilege to be part of an organisation that is truly making a difference.

Andrew Cockcroft

SASP Chair

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

SASP holds the Tier 3 Code of Sports Governance for Sports Bodies showing compliance against key areas of Structure, People, Communication and Policies and Processes.

Governing Document Memorandum and Articles of Association
Constitution Company Limited by Guarantee
Trustee Selection Method Election - Trustees are appointed on skill sets and
receive induction training on individual roles and
responsibilities
Organisational Structure The charity has an annual business plan which is ratified
By the board. The SASP Chief Executive Officer takes
responsibility for day-to-day management of the company.
Risk Management A risk register is maintained and identified risks are
monitored and reviewed through the Board.

None of the Trustees has any personal pecuniary beneficial interest in the company. All of the Trustees are Directors of the company and guarantee to contribute £10 in the event of a winding up of the company.

Somerset Activity & Sports Partnership encourages all Trustees and requires staff to undertake induction and continuing professional development to familiarise themselves with the political, funding and delivery environment in which the company operates; to set out their respective roles and responsibilities; and to ensure accountability and compliance with statutory Charity and Company law.

The Board of Trustees meets every quarter to discuss the strategic direction of the charity, ensure its core aims and objectives are being met in the most efficient way, and to take account of any risks to the charity and to make sure that all legal obligations are satisfied.

The Board of Directors are supported strategically by Somerset Activity and Sports Partnership senior employees. Outside the meetings, the day-to-day business of the Charity is delegated to the SASP Chief Executive and through them, other staff.

OBJECTIVES AND ACTIVITIES

The charitable objectives of SASP are:

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2022

SASP Vision

Achieving healthier and happier communities in Somerset through physical activity

SASP Mission

We inspire and enable positive life choices through sport and physical activity and we do this by:

SASP Values are:

Dedicated: We listen, we learn, we act.

Creative: We will find new and different solutions where needed.

High Quality: We believe that high quality experiences in sport and physical activity sustain a happy and healthy lifestyle.

Strategies for achieving its stated aims and objectives

Somerset Activity & Sports Partnership's core aims and objectives over this 2[nd] year of pandemic restrictions did not change but the delivery methods and what we did remained balanced between virtual and in person delivery dependent upon restrictions and the client group requirements.

SASP moved back to in person provision as quickly as restrictions allowed, encouraging and supporting other organisations to also do this. Here are a few highlights from our year:

ACTIVE COMMUNITIES

Working with groups that experience barriers to physical activity, SASP has supported many organisations to deliver appropriate physical activity and has also provided the architecture to promote the importance of being active to different Somerset demographics which include:

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2022

Feature Programme

Health Walks

ACTIVE CHILDREN AND YOUNG PEOPLE

The pandemic left children and young people facing enormous mental and physical health challenges. Many struggled with loneliness and isolation and others felt lost and worried about the future. We know that physical activity can help support better mental health by boosting self-esteem and helping to alleviate anxiety, stress and depression. Therefore throughout 2021/22, we explored the role physical activity can play in supporting the wellbeing of vulnerable children and young people. We also connected up partners from across the system, enabling them to continue supporting children, as part of the Covid-19 recovery process.

Feature Programme

The Holiday Activities and Food (HAF) programme

This is a programme funded by the Department for Education aimed at providing activities and food across the holiday period for children predominantly on free school meals and named the Happy Healthy Holidays Somerset Programme . This funding has been made available by

Somerset County Council to enable local groups to provide holiday activities including food to children eligible for free school meals in Somerset. SASP has coordinated and managed the programme including the grant making process from Easter 2021 for each of the holiday periods.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2022

ACTIVE ENVIRONMENT

After the success of the Bridgwater Beat the Street in 2020/21, SASP brought the programme back, this time in Taunton. Just before the second lockdown, when being outside as family groups was the only thing that people were really allowed to do, SASP worked hard to create innovative and active environments to engage families and others to get outside and explore their localities.

Beat the Street – Taunton

Beat the Street is an evidence-based population level, behaviour-change programme that creates a social norm around being active. It connects people to each other and their environment and addresses health inequalities through small changes to daily behaviour.

In Taunton it brought partners together to deliver shared objectives on improving people’s health and

wellbeing, active travel and the environment and catalysed local strategies. Sustainability is in the behaviour change of participants – enabling them to take control of their health.

ACTIVE ADULTS

We continue to work with key groups to address inequalities of access to physical activity with investment in womens only project work through In It Together, delivery and co-ordination of key social sport and workplace initiatives for our adults of working age. Over 2021/22 our work around social prescribing increased significantly, predominately with this target group. Working with a number of Primary Care Networks to employ Health and Wellbeing Coaches with their feet firmly embedded in physical activity. This has allowed us to increase our one to one work with people who we would rarely see outside of primary care and to increase the understanding of the whole social prescribing network in Somerset of the role physical activity can play for many long term health conditions including mental health, pain, loneliness

Headline

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2022

ACTIVE COMMUNICATIONS

This continues to be a really busy area of work, each work area of SASP needing significant communications input. This year saw

ACTIVE WORKFORCE

Diversity, Equity and Safeguarding

SASP believes that safeguarding young people and vulnerable adults is fundamental to ensuring that people have good experiences in sport and physical activity. We use physical activity to increase selfesteem and resilience to ensure young people have a fun, safe and purposely experience of sport and active recreation. We are also committed to using our programmes to connect all participants together to create new friendships, social groups and support the End Loneliness campaigns in Somerset. Our safeguarding work in 2021/22 for children has been assessed as excellent by the Child Protection in Sport Unit.

SASP has a continued a strong commitment to equality and continues to hold the Foundation Level of the Equality Standard for Sport and also holds the Disability Confident mark to ensure our commitment to equality and diversity is backed through all our policies and actions. Our Diversity Action Plan has been updated to ensure that both external and internal work of all kinds is checked and challenged for fairness and inclusion. Our Board Champion for equality and diversity is also very active and supportive and has been fully involved in updating our annual plan and review.

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Page 8

Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2022

FINANCIAL REVIEW 2021/22

During the year SASP had an income of £1,849k (2021 - £1,118k) and expenditure of £1,653k (2021 – £980k) excluding investment, revaluation and pension costs. Once the investment revaluation of £9k is taken into account, SASP had a net trading position of a surplus of £205k (2021 - £212k).

The defined benefit pension scheme has an impact on the financial results of SASP, with the additional gain this financial year of £212k and the total obligation showing at the balance sheet date of £608k, a significant decrease from last year. The trustees have sought to reduce the risk posed by the pension scheme by putting an additional £300k into investment and procuring a bond of £66k with the county council.

It is the Trustees opinion that the pension scheme deficit doesn’t represent a current liability or have any impact on the going concern position of SASP. The charity continues to meet obligations for both other liabilities and pension scheme repayments and have set aside the reserves in our funds as a more accurate representation of the financial position of the group.

Policy on reserves

The Charity's policy is to maintain a level of reserves to ensure we can continue to provide our services for 3 months regardless of income levels.

This equates to approximately £300k compared to the charity’s free reserves as of 31st March 2022 of £753k including the pension scheme deficit and £1,361k excluding this amount. In practice, the Charity’s investments have been put aside to assist with the pension deficit and therefore excluding the deficit and the investments our free reserves would be £920k. It is considered that any excess reserves will be held to ensure the financial stability of the Charity in the future, including any potential liability that would arise from the exit of the pension scheme.

Arrangements for setting the pay and remuneration of the charity’s key management personnel

SASP has a remuneration policy based on the following principles:

  1. Pay will be competitive so that the charitable objectives can be delivered.

  2. Bonuses linked to individual performance are not awarded. The charity expects everyone to perform to a high standard.

  3. SASP’s remuneration policy seeks to be fair at both higher and lower ends of the pay scale.

  4. Peoples’ working arrangements can be flexible to aid productivity

  5. SASP encourages a work-life balance and encourages regular breaks

  6. SASP has strong governance structures in place to ensure remuneration is managed in line with best practice.

  7. SASP is transparent in remuneration reporting

  8. Trustees receive reasonable expenses only

The SASP Board review remuneration policy, the remuneration ratio and provide scrutiny to remuneration decisions e.g. annual pay award and remuneration of highly paid staff on an annual basis.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2022

Principal funding sources

Sport England, Somerset specific partners, grant aiding bodies and income generation.

PLANS FOR FUTURE PERIODS

SASP is committed to finding new investment into physical activity to support those that find it most difficult to become active and maintain activity levels or for those who wish to achieve mental, social or community development outcomes. This will always mean new partners, new programmes and new ways of working to ensure that we are able to work at scale. During 2022/23 our new work will be focusing on increasing our commitment to health-related physical activity through social prescribing, anticipatory care and prevention, disability weighted towards children and young people, volunteering and adults and children from less affluent backgrounds. We will be looking to employ new roles to support the delivery of our key targets for 2022/23.

Statement of Trustees’ Responsibilities

The Trustees (who are also directors of Somerset Activity and Sports Partnership for the purposes of company law) are responsible for preparing the Trustee Directors’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial 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 assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

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Page 10

Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2022

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Provisions

This report has been prepared in accordance with the special provision of part 16 of the Companies Act relating to small companies and constitute the annual accounts as required by the Companies Act 2006.

Approved by order of the Trustees on 9[th] November 2022 and signed on their behalf by:

A Cockcroft Trustee

J Stafford Trustee

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Page 11

Somerset Activity and Sports Partnership Independent Auditors' Report to the Trustees and Members For the Year Ended 31 March 2022

Opinion

We have audited the financial statements of Somerset Activity and Sports Partnership (the 'charitable company') for the year ended 31 March 2022, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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

In auditing the financial statements, we have concluded that the trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Somerset Activity and Sports Partnership Independent Auditors' Report to the Trustees and Members For the Year Ended 31 March 2022

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities set out on page 10, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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 issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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Somerset Activity and Sports Partnership Independent Auditors' Report to the Trustees and Members For the Year Ended 31 March 2022

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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Somerset Activity and Sports Partnership Independent Auditors' Report to the Trustees and Members For the Year Ended 31 March 2022

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Michelle Ferris BSc (Hons) FCA DChA Senior Statutory Auditor for and on behalf of Albert Goodman LLP Chartered Accountants Statutory Auditor

Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX

Date: 21[st] November 2022

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Page 15

Somerset Activity and Sports Partnership Statement of Financial Activities (including an Income and Expenditure account) For the Year Ended 31 March 2022

Unres-
tricted
Notes
£
Income from:
Donations and legacies
2
535,039
Charitable activities
3
816,559
Investments
4
-
Total income
1,351,598
Expenditure on:
Charitable activities
5
1,147,487
Total expenditure
1,147,487
Revaluation of investment
8,833
Net income/(expenditure)
212,944
Transfer between funds
13
18,315
Other recognised gains/(losses)
Actuarial (losses)/gains on
defined benefit pension
schemes
212,000
Net movement in
funds for the year
443,259
Reconciliation of funds
Total funds brought forward
337,581
Total funds carried forward
780,840		 Unres-
tricted
Notes
£
Income from:
Donations and legacies
2
535,039
Charitable activities
3
816,559
Investments
4
-
Total income
1,351,598
Expenditure on:
Charitable activities
5
1,147,487
Total expenditure
1,147,487
Revaluation of investment
8,833
Net income/(expenditure)
212,944
Transfer between funds
13
18,315
Other recognised gains/(losses)
Actuarial (losses)/gains on
defined benefit pension
schemes
212,000
Net movement in
funds for the year
443,259
Reconciliation of funds
Total funds brought forward
337,581
Total funds carried forward
780,840		 Res-
tricted
£
135,478
362,378
-		 Total
2022
£
670,517
1,178,937
-		 Unres-
tricted
£
163,480
400,322
2,934		 Res-
tricted
£
196,318
354,856
-		 Total
2021
£
359,798
755,178
2,934
1,351,598 497,856 1,849,454 566,736 551,174 1,117,910
505,737 1,653,224 542,016 438,288 980,304
1,147,487 505,737 1,653,224 542,016 438,288 980,304
8,833 - 8,833 74,225 - 74,225
(7,881)
(18,315)
-		 205,063
-
212,000		 98,945
18,485
(223,000)		 112,886
(18,485)
-		 211,831
-
(223,000)
443,259
337,581		 (26,196)
269,479		 417,063
607,060		 (105,570)
443,151		 94,401
175,078		 (11,169)
618,229
780,840 243,283 1,024,123 337,581 269,479 607,060

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities

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Somerset Activity and Sports Partnership- Company Registration Number: 05798066 Balance Sheet As at 31 March 2022

----- Start of picture text -----
2022 2021
£ £
Notes
Fixed assets
Tangible fixed assets 9 27,486 37,323
Investments 10 375,625 366,792
403,111 404,115
Noncurrent assets
Debtors 11 66,000 66,000
Current assets
Debtors 11 174,303 98,630
Cash at bank and in hand 1,393,212 1,009,858
1,633,515 1,174,488
Liabilities:
Creditors: amounts falling due within 12 (404,503) (212,543)
one year
Net current assets 1,163,012 895,945
Net assets excluding pension liabilities 1,632,123 1,366,060
Defined benefit pension scheme
liabilities 15 (608,000) (759,000)
Total net assets including pension
liabilities 1,024,123 607,060
The funds of the charity:
Unrestricted funds:
General funds 1,388,840 1,096,581
- -
Designated funds
Unrestricted funds excluding pension
reserve 1,388,840 1,096,581
Pension reserve (608,000) (759,000)
Total unrestricted funds 13 780,840 337,581
Restricted funds 13 243,283 269,479
Total charity funds 1,024,123 607,060
----- End of picture text -----

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Somerset Activity and Sports Partnership- Company Registration Number: 05798066 Balance Sheet (continued) As at 31 March 2022

The financial statements have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The notes on pages 20 – 43 form part of these accounts.

Approved by the Board for issue on 9[th] November 2022 and signed on their behalf by:

A Cockcroft Trustee

J Stafford Trustee

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Page 18

Somerset Activity and Sports Partnership Statement of Cash Flows and Consolidated Statement of Cash Flows For the Year Ended 31 March 2022

Notes
Cash flows from operating activities
Net income for the year
Adjustments to cash flows from non-cash items:
Depreciation and amortisation
9
Finance income
4
Losses/(gains) on investments
Defined benefit pension scheme
cost less contributions payable
15
Defined benefit pension scheme
finance cost
15
Working capital adjustments
(Increase)/decrease in debtors
11
Increase/(decrease) in creditors
12
Net cash flow from operations
Cash flows from investing activities
Purchase of tangible fixed assets
9
Interest received
4
Purchase of investments
Disposal of investments
Net increase in cash and
cash equivalents
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the
end of the reporting period
Cash & Cash equivalents reconciliation:
Cash at bank
Total cash & cash equivalents at the
end of the reporting period		 2022
£
417,063
14,987
-
(8,833)
61,000
(212,000)
272,217
(75,673)
191,960
388,504
(5,150)
-
-
-
(5,150)
383,354
1,009,858
1,393,212
1,393,212
1,393,212		 2021
£
(11,169)
13,938
(2,934)
(74,225)
39,000
223,000
187,610
49,771
12,257
249,638
(7,985)
2,934
(2,559)
375
(7,235)
242,403
767,455
1,009,858
1,009,858
1,009,858

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Page 19

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

1 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

1.1 Basis of accounting

The financial statements 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Somerset Activity and Sports Partnership meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s) and all amounts are presented in £ sterling.

The accounts are prepared for the company alone. The company has a dormant subsidiary, and consolidated accounts are not presented as the charity has taken advantage of the exemption provided by S405(2) of the Companies Act 2006 on the grounds of immateriality.

1.2 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

The company is incorporated in England and Wales and the company registered office is detailed on page 1, reference and administration details.

1.3 Going concern

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting when preparing the financial statements.

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Page 20

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

1.4 Income

Income from donations and legacies is recognised in the year in which they are receivable when there is evidence of entitlement, receipt is probable and the amount can be reliably measured. Where income has not been received for gift aid claims relating to donations received in the year, income is accrued.

Income from government grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Where funds are received in advance for a specified purpose, or there are conditions to be met that are not in the control of the charity and these are not purely administrative, the funds are deferred and recognised in the period to which they relate.

Where no conditions are attached to the grant income they are recognised within donations and legacies and where conditions relating to performance of services are attached, grant income is recognised in income from charitable activities within the Statement of Financial Activities.

Income from charitable activities includes grants provided for charitable activities, fees provided for courses and rent provided to other sporting organisations. Course fees are recognised at the point the amount becomes non-refundable, which is either the date of booking or date of the course, depending on the individual item. Rent is recognised when due.

Income from other trading activities, including course income, is included in the period in which the charity is entitled to receipt, it is probable that economic benefits will flow to the entity and the amount can be reliably measured.

1.5 Interest receivable/ Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Investment income is recognised at the point it is unconditionally due to the charity.

1.6 Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (or purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities.

1.7 Expenditure

Resources expended are recognised on the accruals basis to match the period in which the expenditure was incurred.

Charitable activity expenditure comprises costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and costs of an indirect nature necessary to support them. Grants payable are at the discretion of the Trustees. Governance costs are those costs associated with the governance arrangements of the charity and relate to general running of the charity as opposed to those costs associated with charitable activities.

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Page 21

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

1.8 Operating leases

The trust classifies the lease of properties as operating leases as title remains with the lessor. Rental charges are charged on a straight line basis over the term of the lease.

1.9 Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of Trust.

Restricted funds are from donations and grants in which the donor or funder has specified are to be solely used for particular areas of the Trust’s work or for specific projects being undertaken by the Trust.

1.10 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life as follows:

Fixtures and fittings 15% reducing balance Office equipment 3 years straight line Plant and machinery 15% reducing balance

Investments are recognised initially at fair value which is normally the transaction price (but excludes any transaction costs). Subsequently, investments are held at market value, with all realised and unrealised gains and losses passing through the SOFA.

1.12 Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due to according to the original terms of the receivables.

Other debtors comprise amounts due from funders, prepayments and accrued income. Amounts due from funders are recognised when the charity is entitled to the money, prepayments arise from the payments for services prior to benefit from those services, and accrued income is amounts due for services provided, recognised at the point of provision of the services.

Where amounts are due but unable to be received in the next 12 months, they are accounted for as non-current. In the current year this is in relation to a bond provided against the pension liability.

1.13 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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Page 22

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

1.14 Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

1.15 Defined contribution pension

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as staff pension expense through the profit and loss when they are due.

1.16 Defined benefit pension obligation

Certain employees of the charity are members of the Local Government Pension Schemes (LGPS) managed by Somerset County Council.

These are funded defined benefit schemes where the assets are held separately from those of the charity in separate Trustee administered funds. Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one of more factors such as age, years of service and compensation.

The liability recognised in the Balance Sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of the plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are recognised immediately in other gains and losses.

The net liability in the schemes at the date of the transfer of the employees from the respective councils is shown as a separate item in the Statement of Financial Activities.

1.17 Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

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Page 23

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

1.17 Critical accounting estimates and areas of judgement (cont.)

The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include discount rate. Any changes in these assumptions, which are disclosed in note 15, will impact the carrying amount of the pension liability.

1.18 Taxation

As a registered charity, the company is not liable to corporation tax or capital gains tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax (VAT) is partially recoverable by the company. Any irrecoverable VAT is added to the relevant cost and charged as an expense in the Statement of Financial Activities.

1.19 Financial Instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:

Financial assets – trade, other debtors and the pension bond are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 18. Investment portfolios are basic financial instruments measured at fair value through the income and expenditure account. Prepayments are not financial instruments.

Cash at bank and deposit accounts– is classified as a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in note 18. Taxation and social security and the LGPS are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

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Page 24

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

2 Donations and legacies

2
Donations and legacies		 2
Donations and legacies		 2
Donations and legacies		 2
Donations and legacies
Unres-
Res-
tricted
tricted
funds
funds
£
£
Other grant funding
530,772
135,478
Swim award sales
201
-
Exceptional government funding
Coronavirus JRS grant
3,066
-
Other Covid grants
1,000
-
535,039
135,478
3
Income from charitable activities		 Res-
tricted
funds
£
135,478
-
-
-		 2022
Total
£
666,250
201
3,066
1,000		 Unres-
tricted
funds
£
23,898
58
128,024
11,500		 Res-
tricted
funds
£
196,318
-
-
-		 2021
Total
£
220,216
58
128,024
11,500
535,039 135,478 670,517 163,480 196,318 359,798
2021
Total
£
182,230
17,618
547,356
7,974
755,178
2021
Total
£
2,934
2,934
Unres-
tricted
funds
£
Fees for services and grants
Sports and other activities
528,336
Rent
13,286
Sports England
237,859
Gym membership and
classes
37,078
816,559		 Res-
tricted
funds
£
-
-
362,378
-		 2022
Total
£
528,336
13,286
600,237
37,078		 Unres-
tricted
funds
£
182,230
17,618
192,500
7,974		 Res-
tricted
funds
£
-
-
354,856
-
816,559 362,378 1,178,937 400,322 354,856
4
Investment income
Investment income Unres-
tricted
funds
£
-		 Res-
tricted
funds
£
-		 2022
Total
£
-		 Unres-
tricted
funds
£
2,934		 Res-
tricted
funds
£
-
- - - 2,934 -

4 Investment income

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Page 25

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

5 Expenditure

Charitable activities
Wages and salaries
Other staff costs
Office costs
Administration costs
Direct project costs
Legal and professional
Finance costs
Depreciation
Pension service costs		 Unres-
tricted
funds
£
672,992
13,467
49,796
122,145
183,592
23,366
6,142
14,987
61,000		 Res-
tricted
funds
£
295,939
1,855
14,457
41,672
151,719
-
95
-
-		 2022
Total
£
968,931
15,322
64,253
163,817
335,311
23,366
6,237
14,987
61,000		 Unres-
tricted
funds
£
330,062
2,385
53,406
43,331
45,637
10,849
3,408
13,938
39,000		 Res-
tricted
funds
£
359,170
9,630
17,729
9,312
42,086
300
61
-
-		 2021
Total
£
689,232
12,015
71,135
52,643
87,723
11,149
3,469
13,938
39,000
1,147,487 505,737 1,653,224 542,016 438,288 980,304
Active
Communities
£
Expenditure by activity (2022):
Wages and salaries
218,839
Other staff costs
2,436
Office costs
10,409
Administration costs
22,839
Direct project costs
77,943
Legal and professional
-
Finance costs
24
Depreciation
-
Pension service costs
-
332,490		 Active
Communities
£
Expenditure by activity (2022):
Wages and salaries
218,839
Other staff costs
2,436
Office costs
10,409
Administration costs
22,839
Direct project costs
77,943
Legal and professional
-
Finance costs
24
Depreciation
-
Pension service costs
-
332,490		 Active Child-
ren & Young
People
£
328,908
5,905
2,640
40,650
210,351
-
1,318
-
-		 Active
Adults
£
204,928
3,095
2,956
3,411
23,452
120
3,297
-
-		 Active
Workforce
£
28,256
3,839
96
231
4,828
-
14
-
-		 Active
Environ-
ments
£
-
-
305
346
9,749
-
60
-
-		 Central
costs
£
188,000
47
47,847
96,340
8,988
23,246
1,524
14,987
61,000		 2022
Total
£
968,931
15,322
64,253
163,817
335,311
23,366
6,237
14,987
61,000
332,490 589,772 241,259 37,264 10,460 441,979 1,653,224

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Page 26

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

5 Expenditure (cont.)

Active
Communities
£
Expenditure by activity (2021):
Wages and salaries
193,130
Other staff costs
8,090
Office costs
7,563
Administration costs
5,026
Direct project costs
21,353
Legal and professional
-
Finance costs
58
Depreciation
-
Pension service costs
-
235,220		 Active
Communities
£
Expenditure by activity (2021):
Wages and salaries
193,130
Other staff costs
8,090
Office costs
7,563
Administration costs
5,026
Direct project costs
21,353
Legal and professional
-
Finance costs
58
Depreciation
-
Pension service costs
-
235,220		 Active Child-
ren & Young
People
£
231,192
2,240
11,135
4,679
54,687
-
572
-
-		 Active
Adults
£
51,998
477
2,023
402
8,061
-
1,877
-
-		 Active
Workforce
£
38,562
1,040
109
1,455
3,580
300
3
-
-		 Active
Environ-
ments
£
-
-
-
-
-
-
-
-
-		 Central
costs
£
174,350
168
50,305
41,081
42
10,849
959
13,938
39,000		 2021
Total
£
689,232
12,015
71,135
52,643
87,723
11,149
3,469
13,938
39,000
235,220 304,505 64,838 45,049 - 330,692 980,304

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Page 27

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

6 Income and expenditure by public investor - 2022

Revenue grants
Exceptional Government grants
Capital grants
Membership income
Sponsorship income
Other income
Total income
Active Communities
Active Children & Young People
Active Adults
Active Workforce
Active Environments
Core costs
Total expenditure
Net income		 £
600,237
-
-
-
-
-
Sport
England		 Local
Authority
£
386,913
4,066
-
-
-
-

Other Public
Sector
£
239,963
-
-
-
-
325,386
Non-public
income
£
35,308
-
-
36,948
-
220,633
Total 2022
£
1,262,421
4,066
-
36,948
-
546,019
600,237 390,979 565,349 292,889 1,849,454
89,000
143,580
-
37,264
-
327,657		 39,200
253,866
27,997
-
-
47,095		 181,590
-
113,388
-
-
-		 22,700
192,326
99,874
-
10,460
67,227		 332,490
589,772
241,259
37,264
10,460
441,979
597,501 368,158 294,978 392,587 1,653,224
2,736 22,821 270,371 (99,698) 196,230

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Page 28

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

6 Income and expenditure by public investor - 2021

Revenue grants
Exceptional Government grants
Capital grants
Membership income
Sponsorship income
Other income
Total income
Active Communities
Active Children & Young People
Active Adults
Active Workforce
Active Environments
Core costs
Total expenditure
Net income		 Sport
England
£
547,356
-
-
-
-
-
Local
Authority
£
80,189
139,524
-
-
-
17,300

Other Public
Sector
£
114,270
-
-
-
-
9,837
Non-public
income
£
25,757
-
-
3,435
-
180,242
Total 2021
£
767,572
139,524
-
3,435
-
207,379
547,356 237,013 124,107 209,434 1,117,910
69,446
204,736
-
45,049
-
231,448		 44,185
41,238
33,734
-
-
45,347		 121,589
-
-
-
-
-		 -
58,531
31,104
-
-
53,897		 235,220
304,505
64,838
45,049
-
330,692
550,679 164,504 121,589 143,532 980,304
(3,323) 72,509 2,518 65,902 137,606

Amounts received from government grants are as listed above. There are no unfulfilled conditions or other contingencies attached to grants that have been recognised in income and the charity has not benefitted directly from other forms of government assistance.

7 Net income/ (expenditure) for the year

This is stated after charging

Depreciation of
owned assets
Operating lease expenses
Auditors’ remuneration for:
- Audit services
- Other services		 Total
2022
£
14,987
5,749
5,680
1,783		 Total
2021
£
13,938
37,715
5,680
1,259

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Page 29

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

8 Employees

Number of employees

The average monthly head count was during the year was as follows:

Office staff
Projects staff		 2022
2
78
80		 2021
2
63
65
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2022
£
875,707
65,852
27,372
968,931		 2021
£
621,220
45,000
23,012
689,232
The number of employees whose annual emoluments were £60,000 or more were:
£60,000 - £70,000
£70,000 - £80,000		 2022
number
-
1		 2021
number
1
-

The number of employees whose annual emoluments were £60,000 or more were:

The employee is member of the defined benefit pension scheme, into which contributions of £2,613 (2021: £2,581) were made.

During the year, total costs of £2,293 (2021: £nil) were paid in respect of one employee redundancy and has been included with the wages and salaries costs. The amounts were full and final with no outstanding amounts at the balance sheet date.

None of the Trustee Directors (or any persons connected with them) received any remuneration during the current or prior year. No (2021: none) Trustees Director were reimbursed travelling expenses (2021: £nil).

Key management personnel comprises of the Chief Executive Officer, the Deputy Chief Executive Officer, the Office Manager and the Finance Officer. The total employee benefits (includes gross pay, employer pension and employer national insurance) of the key management personnel of the charity were £178,432 (2021: £167,511).

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Page 30

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

8 Employees (cont.)

Pension costs

The company operates both defined benefit and defined contribution pension schemes.

The charge to the Statement of Financial Activities for the year is shown above.

Contributions totalling £2,263 (2021 - £2,372) were payable to the schemes at the end of the year and are included in creditors. Further details of the defined benefit scheme are given in note 15.

9 Tangible fixed assets

Cost
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Office
equipment
£
47,654
5,150
52,804
35,498
11,212
46,710
6,094
12,156		 Fixtures
Plant
& Fittings & Machinery
£
£
52,661
415
-
-
52,661
415
27,554
355
3,766
9
31,320
364
21,341
51
25,107
60		 Total
£
100,730
5,150
105,880
63,407
14,987
78,394
27,486
37,323

10 Investments

Shares in subsidiary undertaking
Listed Shares
Cash held by investment manager		 Total
2022
£
3
375,247
375
375,625		 Total
2021
£
3
366,414
375
366,792

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Page 31

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

10 Investments (cont.)

Listed Shares
Market Value
Additions
Disposals
Net gain / (loss) on revaluation
Market value as at 31 March 2022
Historical cost
Additions
Disposals
At 1 April 2021
At 31 March 2022
At 1 April 2021		 2022
£
366,414
-
-
8,833
375,247
2022
£
308,383
-
-
308,383		 2021
£
289,630
2,934
(375)
74,225
366,414
2021
£
305,761
2,934
(312)
308,383

Shares in subsidiary undertaking

SASP Social Enterprises Limited (company no 08869128) was incorporated on 30 January 2014. It is a wholly owned trading subsidiary of Somerset Activity and Sports Partnership. The parent charity holds 100% of the issued share capital and 100% of the voting rights of the subsidiary trading company. The company became dormant on 31 July 2017 and transferred its trade and assets to the parent, Somerset Activity and Sports Partnership.

The profit for the year was £nil (2021: £nil) and the balance sheet total was £3 (2021: £3).

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Page 32

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

11
Debtors		 2021
£
25,969
2,512
70,149
98,630
66,000
66,000
Amounts falling due in less than one year
Trade debtors
Other debtors
Prepayments and accrued income
Amounts falling due in more than one year
Pension bond		 2022
£
123,944
932
49,427
174,303
66,000
66,000
12
Creditors: Amounts falling due within one year
Trade creditors
Other creditors and deferred income
Accruals
Taxation and social security
Amounts owed to group undertakings
Amounts held on behalf of external funders
Deferred income
Deferred income at 1 April 2021
Released from previous years
Resources deferred in the year
Deferred income at 31 March 2022
2022
£
35,239
116,969
41,529
22,119
3
188,644
404,503
2022
£
33,690
(33,690)
112,315
112,315		 2021
£
39,193
36,276
21,443
13,294
3
102,334
212,543
2021
£
116,172
(116,172)
33,690
33,690

Income is deferred where funding has been received for a specific time frame which is not yet met, or subject to conditions that are not in the charity’s control. This is comprised of amounts from Sport England, local government and LTA Tennis.

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Page 33

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

13 Summary of movement in funds – 2022

Unrestricted funds
General
Pension fund
Restricted funds
Sport England
Children in Need 2017-3162/SW
Children in Need - Diversionary Activities
Children in Need 2021/2022
HPC - West Somerset DC CIM fund
SCC Move More Project
SCC Jump Start
SCC Disability Days
SCC Active Workforce
SCC Mental Health Grant
SCC Collaborative County
Avon and Somerset Police - Adult
Community Resilience
SCC Revive Burnham
SW Health Science Network
Avon and Somerset Police - Children's
Community Resilience
Avon and Somerset Police - Jump start
SCC We are Undefeatable
SCC Walking football
Somerset Community Foundation - Love to
Pedal
Pluss - Revive
CRF - Chard
SCC - In it Together
SCC - Get Outside
SCC - Health Walks
SCC - Beat the Street
Activity Finder		 Opening
balance
£
1,096,581		 Income
£
1,351,598		 Expenditure
£
(1,086,487)		 Transfers/
revaluation
£
27,148		 Closing
balance
£
1,388,840
(759,000) - (61,000) 212,000 (608,000)
337,581
77,161
4,944
(487)
-
19,352
1,914
67,590
-
1,095
10,000
25,000
5,523
6,180
5,000
-
7,281
15,000
3,902

16,634
3,390
-
-
-
-
-
-		 1,351,598
322,378
8,800
3,592
16,749
5,821
-
-
-
40,000
2,000
-
-
-
-
-
-
-
-
-
-
-
20,959
45,000
8,000
18,307
6,250		 (1,147,487)
(293,581)
(2,379)
(29,705)
(16,749)
(25,173)
-
-
-
(32,276)
-
-
(5,223)
(1,000)
(3,902)
(16,634)
-
(8,495)
-
(46,744)
(8,000)
(15,876)
-		 239,148
(30,615)
-
26,600
-
-
-
-
-
-
-
-
(300)
-
-
-
-
(14,000)
-
-
-
-
-
-
-
-
-		 780,840
75,343
11,365
-
-
-
1,914
67,590
-
8,819
12,000
25,000
-
6,180
5,000
-
7,281
-
-
-
3,390
(8,495)
20,959
(1,744)
-
2,431
6,250
269,479
607,060		 497,856
1,849,454		 (505,737)
(1,653,224)		 (18,315)
220,833		 243,283
1,024,123

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Page 34

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

Summary of movement in funds – 2021

Summary of movement in funds – 2021 21
Opening
balance
£
Unrestricted funds
General
940,151
Pension fund
(497,000)
443,151
Restricted funds
Sport England
41,301
Children in Need 2017-3162/SW
2,394
Children in Need - Diversionary Activities
-
HPC - West Somerset DC CIM fund
(985)
SCC Move More Project
1,914
SCC Jump Start
60,529
SCC Disability Days
-
SCC Active Workforce
-
SCC Holiday Activity Fund
-
SCC Mental Health Grant
-
SCC Collaborative County
25,000
Avon and Somerset Police - Adult
Community Resilience
5,523
SCC Revive Burnham
2,500
SW Health Science Network
5,000
Avon and Somerset Police - Children's
Community Resilience
13,000
Avon and Somerset Police - Jump start
-
SCC We are Undefeatable
15,000
SCC Walking football
3,902
Somerset Community Foundation - Love
to Pedal
-
Pluss - Revive
-
175,078
618,229		 Opening
balance
£
940,151
(497,000)		 Income
£
566,736
-		 Expenditure
£
(503,016)
(39,000)		 Transfers/
revaluation
92,710
(223,000)		 Closing
balance
£
1,096,581
(759,000)
566,736
354,855
7,668
32,366
29,627
12,258
2,161
3,996
3,573
10,000
-
-
7,500
-
-
19,920
-
-
21,434
45,816		 (542,016)
(288,890)
(5,118)
(32,853)
(9,290)
(5,197)
(11,538)
(2,901)
(3,573)
-
-
-
(3,820)
-
(13,000)
(19,920)
-
-
(4,800)
(37,388)		 (130,290)
(30,105)
-
-
-
-
-
9,377
-
-
-
-
-
-
-
-
7,281
-
-
-
(5,038)		 337,581
77,161
4,944
(487)
19,352
1,914
67,590
-
1,095
-
10,000
25,000
-
5,523
6,180
5,000
-
-
7,281
15,000
3,902
16,634
3,390
175,078
618,229		 551,174
1,117,910		 (438,288)
(980,304)		 (18,485)
(148,775)		 269,479
607,060

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Page 35

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

13 Summary of movement in funds (cont.)

Produced by Albert Goodman LLP

Page 36

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

13 Summary of movement in funds (cont.)

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Page 37

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

14 Analysis of assets between funds

Unrestricted funds
Restricted funds
Pension reserve
As at 31 March 2022		 Fixed
assets
£
403,111
-
-		 Non-
current
assets
£
66,000
-
-		 Net
current
assets
£
919,729
243,283
-		 Creditors
more than
one year
£
-
-
(608,000)		 2022
Total
£
1,388,840
243,283
(608,000)
403,111 66,000 1,163,012 (608,000) 1,024,123
Unrestricted funds
Restricted funds
Pension reserve
As at 31 March 2021		 Fixed
assets
£
404,115
-
-		 Non-
current
assets
£
66,000
-
-		 Net
current
assets
£
626,466
269,479
-		 Creditors
more than
one year
£
-
(759,000)		 2021
Total
£
1,096,581
269,479
(759,000)
404,115 66,000 895,945 (759,000) 607,060

15 Pension commitments

The majority of the charity’s employees are part of a defined contribution pension scheme. Contributions for this scheme are recognised as a cost when made in accordance with note 1.15 and there are therefore no liabilities other than contributions that remain outstanding at the year end as disclosed in note 10.

A small number of the charity’s employees belong to the Local Government Pension Scheme (LGPS) managed by Somerset County Council (“SCC”).

The pension costs are assessed in accordance with the advice of independent qualified actuaries. The latest full actuarial valuation was performed at 31 March 2019 and has been used by the actuary in valuing the pension liability at 31 March 2022.

At the year end there were no outstanding contributions due to the scheme.

The scheme is a funded defined benefit pension scheme, with assets held in separate Trustee-administrated funds. The total contributions made for the year ended 31 March 2022 were £13,000, of which employer’s contributions totalled £4,000 and employees’ contributions totalled £9,000. The current employer contribution rate for future years is 3.7%.

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Page 38

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

15 Pension commitments (cont.)

Summary of net pension liability as at 31 March 2022:

Summary of net pension liability as at 31 March 2022:
Present value of defined benefit obligations
Fair value of share of scheme assets
Deficit in the scheme
Indemnity provided
Net pension liability		 2022
£'000
(2,123)
1,515
(608)
-
(608)		 2021
£'000
(2,171)
1,412
(759)
-
(759)

Principal actuarial assumptions

The current mortality assumptions include sufficient allowance for the future improvements in mortality rates.

2022 2021
Salary increases 4.15% 3.85%
Pension increases 3.15% 2.85%
Discount rate 2.60% 2.05%
CPI increases 3.15% 2.85%
RPI increases 2.85% 2.55%
The assumed life expectations on retirement age 65 are:
2022 2021
Retiring today
Males 23.1 23.1
Females 24.7 24.6
Retiring in 20 years
Males 24.4 24.4
Females 26.1 26.0

The assumed life expectations on retirement age 65 are:

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Page 39

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

15 Pension commitments (cont.)

The Trust’s share of the assets and liabilities in the Somerset County Council Pension Fund are as follows:

Equities
Gilts
Other bonds
Property
Cash
Total market value of assets
Present value of scheme
liabilities - funded
Deficit in the scheme		 2022
Fair
value
£'000
1,100
76
147
122
70		 % of total
scheme
assets
73%
5%
10%
8%
5%
~~0%~~
100%		 2021
Fair
% of total
value
scheme
£'000
assets
1,020
72%
79
6%
133
9%
95
7%
85
6%
1,515
(2,123)		 1,412
100%
(2,171)
(759)
(608)

The total return on fund assets was £113,000 (2021 - £302,000).

Amounts recognised in the statement of financial activities are as follows:

Current service cost (net of employee contributions)
Net interest cost
Administration expenses
Total		 2022
£'000
(49)
(15)
(1)
(65)		 2021
£'000
(33)
(12)
(1)
(46)

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Page 40

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

15 Pension commitments (cont.)

Movements in the present value of defined benefit obligations were as follows:

At 1 April 2021
Current service cost
Interest cost
Estimated benefits paid
Employee contributions
Actuarial gains/(losses)
Experience gain on defined benefit obligation
At 31 March 2022		 2022
£'000
(2,171)
(49)
(44)
22
(9)
132
(4)
(2,123)		 2021
£'000
(1,613)
(33)
(38)
22
(10)
(517)
18
(2,171)
Movements in the fair value of the charity’s share of scheme assets were as follows:
At 1 April 2021
Interest income
Expected return on Fund assets
Employer contributions
Employee contributions
Estimated benefits paid
Actuarial gains/(losses)
Administrative expenses
At 31 March 2022		 2022
£'000
1,412
29
84
4
9
(22)
-
(1)
1,515		 2021
£'000
1,116
26
276
7
10
(22)
-
(1)
1,412

Movements in the fair value of the charity’s share of scheme assets were as follows:

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Page 41

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

16 Obligations under leases

Operating leases-

The total future minimum rentals payable under non-cancellable operating leases funded by unrestricted funds are as follows:

Land and property:
Operating lease which expire:
Within one year
Other:
Operating lease which expire:
Within one year
Within two and five years		 2022
£
-
3,227
1,836
5,063		 2021
£
39,616
3,227
3,838
46,681

17 Related party transactions

There were no related party transactions during the year (2021: none).

Transactions with trustees are disclosed in note 8.

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Page 42

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2022

18
Financial instruments		 18
Financial instruments
Categorisation of financial instruments
Financial assets measured at fair value through income
and expenditure account		 2022
£
375,247		 2021
£
366,417
Financial assets that are debt instruments measured at
amortised cost		 1,604,620 1,158,348
1,979,867
1,524,765
Financial liabilities measured at amortised cost 265,412 162,970
Item of income, expenditure, gain and loss
Income
£
2022
Financial assets measured at
-
fair value through income
and expenditure account
-
2021
Financial assets measured at
2,934
fair value through income
and expenditure account
2,934		 Expense
£
-
-
-
-		 265,412
Net gains
£
8,833
8,833
73,850
73,850
162,970
Net losses
£
-
-
-
-

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Page 43