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2023-03-31-accounts

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

Annual Report and Financial Statements

For the Year Ended 31 March 2023

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

Somerset Activity and Sports Partnership Contents For the Year Ended 31 March 2023

Page
Reference and Administrative Details 1
Trustee Directors’ Report 2 – 15
Independent Auditors’ Report 16 – 19
Statement of Financial Activities 20
Balance Sheet 21 – 22
Statement of Cash Flows 23
Notes to Financial Statements 24 – 47

Somerset Activity and Sports Partnership Reference and Administrative Details For the Year Ended 31 March 2023

Trustee Directors J A Chidley-Sanders J A Chidley-Sanders
A M Coates
A J Cockcroft (Chair)
G R Cox
A E Driscoll
A J Gardner
M Hill
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)
K Bartels (from September 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
41 St James Street
Taunton, Somerset
TA1 1JR
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 2023

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 2023, 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 2023

Introduction from The Chair

2023 has once again seen significant growth in our organisation. Over and above the necessary increase in staffing across the team, we have expanded our influence, scope and importantly the mechanism behind our activities outlined in a new strategy. “Somerset Moves” builds on our latest insight to provide a new system wide strategy for improving lives across the County through physical activity and sport.

Importantly, the strategy is built upon partnerships – a recognition that our overall aims and ambitions cannot be achieved alone and will require statutory organisations and communities alike to align behind a shared goal. This meant we had to think differently about how we developed leadership, the workforce and collaborative activity across Somerset, focusing on building new strategic relationships and connecting people and organisations through the different pillars of the strategy.

“Somerset Moves” is also necessarily long-term in its thinking and has been designed together with our partners to begin deliver much longer term aspirations and of course meet the very clear challenges outlined in the latest research by Sport England which paints a daunting picture of reduced activity across the country.

Over the course of the year, the new approach has already driven awareness of the importance of physical activity across the system. It has provided a framework of engagement for the statutory and community sector to work together and has provided space for a hugely diverse audience from across the system to connect and discuss issues from their perspectives with many new relationships formed.

We continue to be a learning organisation and have remained very open to change. In short, we’ve learnt that long term system change is possible, but it needs consistent energy and time commitments from leaders across the system. And as noted above, SASP cannot do this alone. In the years ahead we plan to adapt the strategy to maintain engagement, and to encourage other organisations to take a lead in certain areas over time to ensure that the outcomes are sustainable.

On the ground, we have shifted focus to where we can add maximum value. That has meant working with those that are least active and have the most challenges and barriers to becoming so. We have influenced, advocated and provided different pathways to services in the community, allowing new and different people to enjoy the benefits of being active.

We’ve seen hundreds of children, young people, and adults get active in new and inspiring ways, through different pathways they’ve never experienced before. We’ve seen shifts in thinking across the system, such as the recognition of the use of physical activity within mental health services and social prescribing, the growth of inclusive infrastructure for disabled individuals, and an acknowledgement of our role in Active Travel in Somerset.

Our work in implementing the whole system strategy is far from complete. We have much to do and much to look forward to in 2024. In the year ahead our focus will be on mechanisms for measuring impact to better focus our actions whilst our work to focus on those most need will centre on both adult social care and the disadvantaged younger generation.

SASP remains an organisation committed to improving lives across Somerset with the new collaborative foundations set in 2023 providing an extremely solid base from which to drive change. As always, exciting times lie ahead as we push ahead with our work that benefits so many.

Andrew Cockcroft

SASP Chair

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2023

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 2023

SASP Vision

Achieving healthier and happier communities in Somerset through physical activity and sport.

SASP Mission

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

SASP Values are:

Passionate: We are passionate about the power of physical activity and sport to build communities and a sense of belonging to improve the quality of people's lives in Somerset.

Inclusive: We value differences, learn from experiences and welcome varying perspectives to deliver safe, meaningful and real opportunities in physical activity and sport for the people of Somerset.

Dedicated: We are dedicated to connecting Somerset residents to opportunities to be active in ways that feel good to them, offering the best chance to sustain their involvement in and enjoyment of moving.

Inspiring: We lead from within, uplifting communities and individuals to integrate physical activity into their work as an essential part of everyday life.

Connected: We believe that we do things best together, building togetherness and respect and encouraging mutual support within our work.

Strategies for achieving its stated aims and objectives

Somerset Moves, Somerset’s system wide strategy has been a focus this year providing strategic direction to our and others work. The strategic priorities of

  1. Positive experiences for children and young people of all ages

  2. Increasing community activity

  3. Connecting with health and wellbeing

  4. Developing more active environments

  5. Supporting and motivating people to move

  6. Developing leadership, the workforce, and partnerships

have allowed a collective effort across our organisation to improve the access, opportunity and environments for people who are least active to find their way into sustained activity to improve their physical and mental health and reduce social isolation.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2023

The role of physical activity and sport to support people to improve the quality of their lives at all ages has been recognised and we have seen huge growth in the interest and interventions around physical activity for our more targeted populations. Alongside this we have provided significant onward investment to organisations in Somerset through both the Happy Healthy Holidays and the Together Fund to name our largest grant giving funds.

2021/22 saw significant progress in embedding the positive messages of physical activity within both the statutory and Voluntary, Charitable and Social Enterprise (VCSE) sectors to ensure that physical activity is everyone’s business. Our work has included:

Here are a few highlights from our year:

POSITIVE EXPERIENCES FOR CHILDREN AND YOUNG PEOPLE

The effects of the pandemic continue, with many of our children and young people facing enormous mental and physical health challenges. Many children and young people continue to find regular attendance at school difficult and mental health and resilience is a significant issue. Children and young people's activity levels overall have recovered to pre-pandemic levels. However, we have seen inequality in our recovery. Our main areas of inequality are:

  1. Girls have not recovered as well as boys

  2. Lower affluent families are still less likely to be active than those from high affluence

  3. Some primary-aged children have struggled to get back to pre-pandemic levels

We know that physical activity can help support better mental health by boosting self-esteem and helping to alleviate anxiety, stress and depression and that positive experiences in childhood are important for sustaining activity throughout the life course. Therefore throughout 2022/23, 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.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2023

Feature Programme

Jump Start

Our Jump Start Programme supports young people aged 8-18 years old in Somerset, who may have chaotic home lives, struggle to stay in school or may be known to the police. The programme uses sport and physical activity to provide social capital for young people to access community sport. Initially they work 1-2-1 with a mentor and then with a volunteer within their chosen sports club. The impact of Jump Start has been seen not just at the delivery level, but also at the strategic level: with interest by the Ministry of Justice, strengthening relationships with Somerset Children’s Social Care and continued advocacy from our Violence Reduction Unit and the police. We’ve also seen a greater knowledge, awareness and understanding of the trauma informed work that we do with young people within our community sports clubs.

INCREASING COMMUNITY ACTIVITY

2022-23 saw a greater range of community organisations across Somerset tackle inequalities related to physical activity within their communities. We used the Together Fund to shift power to our communities: enabling our community organisations to be more able to reach and engage their local community in physical activity. The impact of this has been great: we’ve seen increases in physical activity, improved physical and mental health, and reduced social isolation through increased opportunities for social interaction, all with people who are more likely to be inactive. Alongside diversifying opportunities, we supported organisations to make it easier to find opportunities to be active. We launched our Activity Finder, a place for personal trainers, leisure centres, sports clubs, and community organisations to upload their activities to open sessions.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2023

Feature Programme

Together Fund

The Together Fund enabled us to collaboratively design projects with these organisations to embed physical activity in their work, and to work with some organisations that we had not previously funded, including Stand Against Violence, Make the Sunshine CIC and The Hub. Our community organisations have been more able to reach and engage their local community in physical activity as a result. For example, Minehead Eye have provided new activities (climbing, skateboarding, roller skating, archery) to different and more vulnerable groups, and Somerset Youth Theatre have engaged young people from LSEG families, SEND young people and those who may usually be inactive, in unique Drama games based in physical play.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2023

CONNECTING WITH HEALTH AND WELLBEING

Our focus in health and wellbeing this year was to work collaboratively to embed physical activity and sport into emerging health and Integrated Care System (ICS) networks, to ensure the impact of our work could be even greater and could reach those who are experiencing the greatest inequalities. Working as a community collective enabled us to develop new relationships and test new ways of working. 2022-23 also saw the expansion of our health and wellbeing coaches within our Primary Care Networks (PCNs) incorporating health coaches with a physical activity bias. We continued to influence the primary and secondary prevention agenda, by developing relationships across both the statutory and community sectors to ensure physical activity is embedded. Supporting the continuous professional development of health and social care professionals and community professionals and developing stronger relationships with extra care / sheltered housing schemes to embed physical activity into the everyday lives of residents through our Extra Care Housing Fund.

Featured Programme

Health and Wellbeing Coaches

This year we built on our relationships in health by strengthening our strategic and local relationships with the Integrated Care Board (ICB) and Primary Care Networks (PCNs). We did this through social prescribing and personalised care: during 2022-23 we employed health coaches for 5 out of 13 PCNs across Somerset. We also work closely with 10 out of the 13 to embed physical activity into social prescribing. We have:

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2023

DEVELOPING MORE ACTIVE ENVIRONMENTS

Climate change, and its impacts on the world we live in, is one of the most significant issues facing us all today. Our focus for 2022-23 was to position ourselves strategically so we are better able to contribute to the decisions around Active Travel in our county. We continue to be a part of the Somerset Active Travel Group, alongside colleagues from areas of Somerset Council. A partnership between SASP and Sustrans, has seen a pilot School Streets project for up to five schools receive funding to transform roads outside schools to encourage active travel. We also continued to deliver Beat the Street, an active travel game, in Yeovil and are now leading all Health Walks in Somerset.

Health Walks – Somerset

2022/23 saw SASP take leadership of all health walks in Somerset, which directly increased the range of places for our community to be active. Our health walks are done on a regular basis for wellbeing, ranging from gentle, moderate to advanced. Our walkers report enjoying the walks equally for physical benefit and the mental and social element of chatting and having a cuppa afterwards.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2023

SUPPORTING AND MOTIVATING PEOPLE TO MOVE

Whilst the Active Lives Survey (November 2021-November 2022) shows that activity levels have bounced back to pre-pandemic levels for many people, we know that some people in our communities have found it more difficult to get back to physical activity. This year, we focussed on how we could inspire these people to take those small steps back to physical activity. We did this through strengthening our network of Active Ambassadors, who provide examples of “People like me”, inspiring and supporting people through physical activity conversations, encouragement, and advice. Underpinning this work was a series of campaigns that helped raise awareness, generate excitement, and inspire us to be active.

Featured Programme

Get Outside Somerset

The Covid-19 pandemic created many barriers to getting outside, which had an impact on people’s engagement in physical activity. To help inform, enable, and empower people to get outside and move more, we created Get Outside in Somerset. It is a joint initiative from SASP, The Community Council for Somerset (CCS), Spark Somerset, and Somerset Wildlife Trust, funded by Somerset Council Public Health. We created a brand that was inclusive, supportive, and energetic, and used a neutral branded campaign website: Get Outside in Somerset. Our success so far includes high engagement with our newsletter, strong relationships with stakeholders, partners and ambassadors and engagement with the community through monthly challenges and activities.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2023

DEVELOPING LEADERSHIP, THE WORKFORCE AND PARTNERSHIPS

Underpinning each of the five strategic pillars of Somerset Moves are the foundations to achieving our strategic aims: strong leadership, leading to sustained investment in physical activity; more system leaders and partners advocating for active lives; and a skilled, supported, and diverse workforce. To achieve this, this year we needed to think differently about how we developed leadership, the workforce, and partnerships across our county. We did this by focusing on building new strategic partnerships, which we hope will form the building blocks to the long-term delivery of the aspirations and ambitions of Somerset Moves.

Diversity, Equality 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 mitigate against social isolation in Somerset. Our safeguarding policies and work in 2022/23 for children and adults have been externally assessed and are deemed robust and fit for purpose.

SASP has a continued a strong commitment to equality and continues to hold the Foundation Level of the Equality Standard for Sport and 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.

FINANCIAL REVIEW 2022/23

During the year SASP had an income of £2,358k (2022 - £1,849k) and expenditure of £2,033k (2022 – £1,653k) excluding investment, revaluation, and pension costs. Once the investment revaluation of minus £26,284 is considered, SASP had a net trading position of a surplus of £299k (2022 - £205k).

The defined benefit pension scheme has an impact on the financial results of SASP, with the additional gain this financial year of £659k and the total obligation showing at the balance sheet date of £nil, 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 charity.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2023

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 2023 of £968k. 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.

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 2023/24 our new work will be focusing on increasing our commitment to health-related physical activity for our older populations, anticipatory care and prevention, disability, active travel, 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 2023/24.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2023

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:

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.

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Somerset Activity and Sports Partnership Trustee Directors’ Report For the Year Ended 31 March 2023

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 1 November 2023 and signed on their behalf by:

A Cockcroft

Trustee

J Stafford Trustee

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Somerset Activity and Sports Partnership Independent Auditors' Report to the Trustees and Members For the Year Ended 31 March 2023

Opinion

We have audited the financial statements of Somerset Activity and Sports Partnership (the 'charitable company') for the year ended 31 March 2023, 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 2023

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 2023

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 2023

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 Goodwood House
Senior Statutory Auditor Blackbrook Park Avenue
for and on behalf of Taunton
Albert Goodman LLP Somerset
Chartered Accountants TA1 2PX
Statutory Auditor

Date: 1 December 2023

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Somerset Activity and Sports Partnership Statement of Financial Activities (including an Income and Expenditure account) For the Year Ended 31 March 2023

----- Start of picture text -----
Unres- Res- Unres- Res-
tricted tricted Total tricted tricted Total
2023 2022
Notes £ £ £ £ £ £
Income from:
Donations and legacies 2 508,920 376,899 885,819 535,039 135,478 670,517
Charitable activities 3 1,205,974 266,573 1,472,547 816,559 362,378 1,178,937
Total income 1,714,894 643,472 2,358,366 1,351,598 497,856 1,849,454
Expenditure on:
Charitable activities 4 1,430,077 602,926 2,033,003 1,147,487 505,737 1,653,224
Total expenditure 1,430,077 602,926 2,033,003 1,147,487 505,737 1,653,224
- -
Revaluation of investment (26,284) (26,284) 8,833 8,833
Net income/(expenditure) 258,533 40,546 299,079 212,944 (7,881) 205,063
Transfer between funds 12 (6,111) 6,111 - 18,315 (18,315) -
Other recognised gains/(losses)
Actuarial (losses)/gains on
defined benefit pension
- -
schemes 659,000 659,000 212,000 212,000
Net movement in
funds for the year 911,422 46,657 958,079 443,259 (26,196) 417,063
Reconciliation of funds
Total funds brought forward 780,840 243,283 1,024,123 337,581 269,479 607,060
Total funds carried forward 1,692,262 289,940 1,982,202 780,840 243,283 1,024,123
----- End of picture text -----

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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Page 20

Somerset Activity and Sports Partnership- Company Registration Number: 05798066 Balance Sheet As at 31 March 2023

2023 2022
Notes
Fixed assets
Tangible fixed assets
8
Investments
9
Noncurrent assets
Debtors
10
Current assets
Debtors
10
Cash at bank and in hand
Liabilities:
Creditors: amounts falling due within
11
one year
Net current assets
Net assets excluding pension liabilities
Defined benefit pension scheme
liabilities
14
Total net assets including pension
liabilities
The funds of the charity:
Unrestricted funds:
General funds		 £
8,909
649,341
658,250
66,000
276,376
1,491,308
1,833,684
(509,732)
1,257,952
1,982,202
-
1,982,202
1,692,262		 £
27,486
375,625
403,111
66,000
174,303
1,393,212
1,633,515
(404,503)
1,163,012
1,632,123
(608,000)
1,024,123
1,388,840
Designated funds - -
Unrestricted funds excluding pension
reserve		 1,692,262
1,388,840
Pension reserve - (608,000)
Total unrestricted funds
13
Restricted funds
13
Total charity funds		 1,692,262
289,940
1,982,202
780,840
243,283
1,024,123

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Page 21

Somerset Activity and Sports Partnership- Company Registration Number: 05798066 Balance Sheet (continued) As at 31 March 2023

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 1 November 2023 and signed on their behalf by:

A Cockcroft Trustee

J Stafford Trustee

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Page 22

Somerset Activity and Sports Partnership Statement of Cash Flows and Consolidated Statement of Cash Flows For the Year Ended 31 March 2023

Notes
Cash flows from operating activities
Net income for the year
Adjustments to cash flows from non-cash items:
Depreciation and amortisation
8
Loss on disposal of fixed assets
Losses/(gains) on investments
Defined benefit pension scheme
cost less contributions payable
14
Defined benefit pension scheme
revaluation
14
Working capital adjustments
(Increase)/decrease in debtors
10
Increase/(decrease) in creditors
11
Net cash flow from operations
Cash flows from investing activities
Purchase of tangible fixed assets
8
Purchase of investments
9
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:		 2023
£
958,079
11,184
18,183
26,284
51,000
(659,000)
405,730
(102,073)
105,229
408,886
(10,790)
(300,000)
-
(310,790)
98,096
1,393,212
1,491,308		 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
Cash at bank 1,491,308 1,393,212
Total cash & cash equivalents at the
end of the reporting period		 1,491,308
1,393,212

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Page 23

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

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 24

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

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 25

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

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

1.11 Fixed asset investments

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 26

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

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 27

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

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.

The present value of the Local Government Pension Scheme as calculated by the actuary is an asset of £110,000. The asset has been limited to a £0 as the trustees believe that the criteria for recognition of an asset have not been met.

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 17. 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 17. 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 28

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

2 Donations and legacies

----- Start of picture text -----
Unres- Res- Unres- Res-
tricted tricted 2023 tricted tricted 2022
funds funds Total funds funds Total
£ £ £ £ £ £
Other grant funding 508,821 376,899 885,720 530,772 135,478 666,250
Swim award sales 99 - 99 201 - 201
Exceptional government funding
- - - -
Coronavirus JRS grant 3,066 3,066
- - - -
Other Covid grants 1,000 1,000
508,920 376,899 885,819 535,039 135,478 670,517
3 Income from charitable activities
Unres- Res- Unres- Res-
tricted tricted 2023 tricted tricted 2022
funds funds Total funds funds Total
£ £ £ £ £ £
Fees for services and grants
Sports and other activities 778,929 740 779,669 528,336 - 528,336
Rent 14,015 - 14,015 13,286 - 13,286
Sports England 358,999 265,833 624,832 237,859 362,378 600,237
Gym membership and
classes 54,031 - 54,031 37,078 - 37,078
1,205,974 266,573 1,472,547 816,559 362,378 1,178,937
----- End of picture text -----

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Page 29

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

4 Expenditure

----- Start of picture text -----
Unres- Res- Unres- Res-
tricted tricted 2023 tricted tricted 2022
funds funds Total funds funds Total
£ £ £ £ £ £
Charitable activities
Wages and salaries 965,023 438,259 1,403,282 672,992 295,939 968,931
Other staff costs 23,060 3,663 26,723 13,467 1,855 15,322
Office costs 57,222 7,184 64,406 49,796 14,457 64,253
Administration costs 135,974 40,673 176,647 122,145 41,672 163,817
Direct project costs 141,619 111,511 253,130 183,592 151,719 335,311
-
Legal and professional 21,112 1,630 22,742 23,366 23,366
Finance costs 5,700 6 5,706 6,142 95 6,237
- -
Depreciation 29,367 29,367 14,987 14,987
- -
Pension service costs 51,000 51,000 61,000 61,000
1,430,077 602,926 2,033,003 1,147,487 505,737 1,653,224
----- End of picture text -----

Active
Communities
£
Expenditure by activity (2023):
Wages and salaries
309,972
Other staff costs
2,073
Office costs
8,231
Administration costs
48,879
Direct project costs
97,995
Legal and professional
-
Finance costs
Depreciation
-
Pension service costs
-
467,150		 Active
Communities
£
Expenditure by activity (2023):
Wages and salaries
309,972
Other staff costs
2,073
Office costs
8,231
Administration costs
48,879
Direct project costs
97,995
Legal and professional
-
Finance costs
Depreciation
-
Pension service costs
-
467,150		 Active Child-
ren & Young
People
£
277,019
5,735
10,196
44,063
96,120
-
-
-		 Active
Health
£
441,507
15,450
8,864
40,086
42,476
-
-
-		 Active
Workforce
£
62,384
2,349
1,923
5,722
4,869
-
-
-		 Active
Commun
ications
£
27,893
105
136
10,162
8,200
-
-
-		 Central
costs
£
284,507
1,011
35,056
27,735
3,470
22,742
5,706
29,367
51,000		 2023
Total
£
1,403,282
26,723
64,406
176,647
253,130
22,742
5,706
29,367
51,000
467,150 433,133 548,383 77,247 46,496 460,594 2,033,003

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Page 30

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

4 Expenditure (cont.)

----- Start of picture text -----
Active Child- Active
Active ren & Young Active Active Environ- Central 2022
Communities People Adults Workforce ments costs Total
£ £ £ £ £ £ £
Expenditure by activity (2022):
-
Wages and salaries 218,839 328,908 204,928 28,256 188,000 968,931
Other staff costs 2,436 5,905 3,095 3,839 - 47 15,322
Office costs 10,409 2,640 2,956 96 305 47,847 64,253
Administration costs 22,839 40,650 3,411 231 346 96,340 163,817
Direct project costs 77,943 210,351 23,452 4,828 9,749 8,988 335,311
Legal and professional - - 120 - - 23,246 23,366
Finance costs 24 1,318 3,297 14 60 1,524 6,237
- - - - -
Depreciation 14,987 14,987
- - - - -
Pension service costs 61,000 61,000
332,490 589,772 241,259 37,264 10,460 441,979 1,653,224
----- End of picture text -----

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Page 31

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

5 Income and expenditure by public investor - 2023

----- Start of picture text -----
Sport Local Other Public Non-public
England Authority Sector income Total 2023
£ £ £ £ £
Revenue grants 624,832 537,135 301,279 193,597 1,656,843
- - - - -
Exceptional Government grants
- - - - -
Capital grants
- - -
Membership income 54,107 54,107
- - - - -
Sponsorship income
Other income - - 324,541 322,875 647,416
Total income 624,832 537,135 625,820 570,579 2,358,366
Active Communities 29,770 166,814 127,644 142,922 467,150
-
Active Children & Young People 169,143 89,677 174,313 433,133
Active Adults - 125,907 308,069 114,407 548,383
Active Workforce 38,354 26,644 - 12,249 77,247
Active Environments - 46,496 - - 46,496
Core costs 385,589 - - 75,005 460,594
Total expenditure 622,856 455,538 435,713 518,896 2,033,003
Net income 1,976 81,597 190,107 51,683 325,363
----- End of picture text -----

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Page 32

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

5 Income and expenditure by public investor - 2022

----- Start of picture text -----
Sport Local Other Public Non-public
England Authority Sector income Total 2022
£ £ £ £ £
Revenue grants 600,237 386,913 239,963 35,308 1,262,421
- - -
Exceptional Government grants 4,066 4,066
- - - - -
Capital grants
- - -
Membership income 36,948 36,948
- - - - -
Sponsorship income
Other income - - 325,386 220,633 546,019
Total income 600,237 390,979 565,349 292,889 1,849,454
Active Communities 89,000 39,200 181,590 22,700 332,490
-
Active Children & Young People 143,580 253,866 192,326 589,772
Active Adults - 27,997 113,388 99,874 241,259
Active Workforce 37,264 - - - 37,264
Active Environments - - - 10,460 10,460
Core costs 327,657 47,095 - 67,227 441,979
Total expenditure 597,501 368,158 294,978 392,587 1,653,224
Net income 2,736 22,821 270,371 (99,698) 196,230
----- End of picture text -----

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.

6 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
2023
£
11,184
3,060
7,300
3,884		 Total
2022
£
14,987
5,063
5,680
1,783

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Page 33

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

7 Employees

Number of employees

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

----- Start of picture text -----
2023 2022
Office staff 6 2
Projects staff 89 78
95 80
Employment costs 2023 2022
£ £
Wages and salaries 1,257,124 875,707
Social security costs 104,449 65,852
Other pension costs 41,709 27,372
1,403,282 968,931
The number of employees whose annual emoluments were £60,000 or more were:
2023 2022
number number
£70,000 - £80,000 1 1
----- End of picture text -----

The employee is member of the defined benefit pension scheme, into which contributions of £2,981 (2022: £2,613) were made.

During the year, total costs of £nil (2022: £2,293) 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 (2022: none) Trustees Director were reimbursed travelling expenses (2022: £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 £189,794 (2022: £178,432).

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Page 34

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

7 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 £16,269 (2022 - £2,263) 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.

8 Tangible fixed assets

----- Start of picture text -----
Office Fixtures Plant Total
equipment & Fittings & Machinery
£ £ £ £
Cost
At 1 April 2022 52,804 52,661 415 105,880
- -
Additions 10,790 10,790
-
Disposals (52,661) (415) (53,076)
At 31 March 2023 63,594 - - 63,594
Depreciation
At 1 April 2022 46,710 31,320 364 78,394
Charge for the year 7,975 3,201 8 11,184
-
Eliminated on disposals (34,521) (372) (34,893)
At 31 March 2023 54,685 - - 54,685
Net book value
At 31 March 2023 8,909 - - 8,909
At 31 March 2022 6,094 21,341 51 27,486
----- End of picture text -----

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Page 35

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

9 Investments

9
Investments
Shares in subsidiary undertaking
Listed Shares
Cash held by investment manager		 Total
2023
£
3
648,963
375
649,341
 Total
2022
£
3
375,247

375

375,625
Listed Shares
Market Value
Additions
Disposals
Net gain / (loss) on revaluation
Market value as at 31 March 2023
Historical cost
Additions
Other adjustments
At 1 April 2022
At 31 March 2023
At 1 April 2022		 2023
£
375,247
300,000
-
(26,284)
648,963
2023
£
309,798
300,000
5,506
615,304		 2022
£
366,414
-
-
8,833
375,247
2022
£
309,798
-
-
309,798

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 (2022: £nil) and the balance sheet total was £3 (2022: £3).

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Page 36

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

10
Debtors
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
11
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 2022
Released from previous years
Resources deferred in the year
Deferred income at 31 March 2023		 2023
£
116,890
-
159,486
276,376
66,000
66,000		 2022
£
123,944
932
49,427
174,303
66,000
66,000
2023
£
25,431
98,221
25,297
29,264
3
331,516
509,732
2023
£
112,315
(112,315)
81,958
81,958		 2022
£
35,239
114,575
41,529
24,513
3
188,644
404,503
2022
£
33,690
(33,690)
112,315
112,315

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 local government and NHS ICB funding.

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Page 37

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

12
Summary of movement in funds – 2023		 12
Summary of movement in funds – 2023

Unrestricted funds
Opening
balance
£		 Income
£		 Expenditure
£		 Transfers/
revaluation
£		 Closing
balance
£
General 1,388,840 1,714,894 (1,379,077) (32,395) 1,692,262
Pension fund
Restricted funds
Sport England
Children in Need 2017-3162/SW
Beat the Street Mendip
Children Young People
CIN
SCC Move More Project
SCC Jump Start
SCC Active Workforce
SCC Mental Health Grant
SCC Collaborative County
Rethink Mental Health
Rethink Mental Health - Adults
SCC Revive Burnham
SW Health Science Network
Youth Justice
Volunteers
Avon and Somerset Police - Jump start
SCC Older Adults Stronger 4 Longer
Pluss - Revive
CRF - Chard
SCC - In it Together
SCC - Get Outside
SCC - Beat the Street
Activity Finder		 (608,000) - (51,000) 659,000 -
780,840 1,714,894 (1,430,077) 626,605 1,692,262
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		 178,150
-
3,000
47,684
9,476
-
78,205
40,000
-
-
35,893
62,916
-
-
16,000
740
10,000
32,500
-
57,467
31,441
15,000
-
25,000		 (179,560)
-
(3,000)
(50,648)
(7,546)
-
(126,166)
(38,354)
(2,000)
-
(30,831)
(16,136)
-
-
(16,000)
(17,281)
(38,611)
-
(39,810)
(5,481)
(7,884)
(1,916)
(21,702)		 (38,211)
(11,365)
-
38,211
11,365
-
-
-
-
-
-
-
-
-
-
-
-
6,111
-
-
-
-
-
-		 35,722
-
-
35,247
13,295
1,914
19,629
10,465
10,000
25,000
5,062
46,780
6,180
5,000
740
-
-
3,390
9,162
46,919
5,372
515
9,548
243,283 643,472 (602,926) 6,111 289,940
1,024,123 2,358,366 (2,033,003) 632,716 1,982,202

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Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

Summary of movement in funds – 2022

----- Start of picture text -----
Opening Transfers/ Closing
balance Income Expenditure revaluation balance
£ £ £ £
Unrestricted funds
General 1,096,581 1,351,598 (1,086,487) 27,148 1,388,840
Pension fund (759,000) - (61,000) 212,000 (608,000)
337,581 1,351,598 (1,147,487) 239,148 780,840
Restricted funds
Sport England 77,161 322,378 (293,581) (30,615) 75,343
Children in Need 2017-3162/SW 4,944 8,800 (2,379) - 11,365
-
Children in Need - Diversionary Activities (487) 3,592 (29,705) 26,600
Children in Need 2021/2022 - 16,749 (16,749) - -
HPC - West Somerset DC CIM fund 19,352 5,821 (25,173) - -
- - -
SCC Move More Project 1,914 1,914
- - -
SCC Jump Start 67,590 67,590
- - - - -
SCC Disability Days
SCC Active Workforce 1,095 40,000 (32,276) - 8,819
SCC Mental Health Grant 10,000 2,000 - - 12,000
- - -
SCC Collaborative County 25,000 25,000
Avon and Somerset Police - Adult
- -
Community Resilience 5,523 (5,223) (300)
SCC Revive Burnham 6,180 - - 6,180
SW Health Science Network 5,000 - - 5,000
Avon and Somerset Police - Children's
- - - -
Community Resilience
- -
Avon and Somerset Police - Jump start 7,281 7,281
SCC We are Undefeatable 15,000 - (1,000) (14,000) -
- - -
SCC Walking football 3,902 (3,902)
Somerset Community Foundation - Love
to Pedal 16,634 - (16,634) - -
Pluss - Revive 3,390 - - - 3,390
CRF - Chard - - (8,495) (8,495)
- - -
SCC - In it Together 20,959 20,959
SCC - Get Outside - 45,000 (46,744) - (1,744)
SCC - Health Walks - 8,000 (8,000) - -
SCC - Beat the Street - 18,307 (15,876) - 2,431
- - -
Activity Finder 6,250 6,250
269,479 497,856 (505,737) (18,315) 243,283
607,060 1,849,454 (1,653,224) 220,833 1,024,123
----- End of picture text -----

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Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

12 Summary of movement in funds (cont.)

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Page 40

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

12 Summary of movement in funds (cont.)

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Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

13 Analysis of assets between funds

----- Start of picture text -----
Non- Net Creditors 2023
Fixed current current more than Total
assets assets assets one year
£ £ £ £ £
Unrestricted funds 658,250 66,000 968,012 - 1,692,262
Restricted funds - - 289,940 - 289,940
Pension reserve - - - - -
As at 31 March 2023 658,250 66,000 1,257,952 - 1,982,202
Non- Net Creditors 2022
Fixed current current more than Total
assets assets assets one year
£ £ £ £ £
Unrestricted funds 403,111 66,000 919,729 - 1,388,840
Restricted funds - - 243,283 243,283
Pension reserve - - - (608,000) (608,000)
As at 31 March 2022 403,111 66,000 1,163,012 (608,000) 1,024,123
----- End of picture text -----

14 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 9.

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 2023 and has been used by the actuary in valuing the pension liability at 31 March 2023.

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 2023 were £11,000, of which employer’s contributions totalled £3,000 and employees’ contributions totalled £8,000. The current employer contribution rate for future years is 13.5%.

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Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

14 Pension commitments (cont.)

Summary of net pension liability as at 31 March 2023:

Summary of net pension liability as at 31 March 2023:
Present value of defined benefit obligations
Fair value of share of scheme assets
Restrict pension gain
Deficit in the scheme
Indemnity provided
Net pension liability		 2023
£'000
(1,376)
1,486
(110)
-
-
-		 2022
£'000
(2,123)
1,515
-
(608)
-
(608)

Principal actuarial assumptions

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

----- Start of picture text -----
2023 2022
Salary increases 3.90% 4.15%
Pension increases 2.90% 3.15%
Discount rate 4.80% 2.60%
CPI increases 2.90% 3.15%
RPI increases 2.60% 2.85%
The assumed life expectations on retirement age 65 are:
2023 2022
Retiring today
Males 21.4 23.1
Females 23.2 24.7
Retiring in 20 years
Males 22.7 24.4
Females 24.7 26.1
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Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

14 Pension commitments (cont.)

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

----- Start of picture text -----
2023 2022
Fair % of total Fair % of total
value scheme value scheme
£'000 assets £'000 assets
Equities 1,109 75% 1,100 73%
Gilts 53 4% 76 5%
Other bonds 154 10% 147 10%
Property 119 8% 122 8%
Cash 51 3% 70 5%
0%
Total market value of assets 1,486 100% 1,515 100%
Present value of scheme
liabilities - funded (1,376) (2,123)
-
Restrict pension gain (110)
Deficit in the scheme - (608)
----- End of picture text -----

The total return on fund assets was £-29,000 (2022 - £113,000).

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

----- Start of picture text -----
2023 2022
£'000 £'000
Current service cost (net of employee contributions) (37) (49)
Net interest cost (16) (15)
Administration expenses (1) (1)
Total (54) (65)
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Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

14 Pension commitments (cont.)

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

----- Start of picture text -----
2023 2022
£'000 £'000
At 1 April 2022 (2,123) (2,171)
Current service cost (37) (49)
Interest cost (55) (44)
Estimated benefits paid 22 22
Employee contributions (8) (9)
Actuarial gains/(losses) 1,145 132
Experience gain on defined benefit obligation (320) (4)
At 31 March 2023 (1,376) (2,123)
----- End of picture text -----

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

At 1 April 2022
Interest income
Expected return on Fund assets
Employer contributions
Employee contributions
Estimated benefits paid
Actuarial gains/(losses)
Administrative expenses
At 31 March 2023		 2023
£'000
1,515
39
(67)
3
8
(22)
11
(1)
1,486		 2022
£'000
1,412
29
84
4
9
(22)
-
(1)
1,515

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Page 45

Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

15 Obligations under leases

Operating leases-

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

----- Start of picture text -----
2023 2022
Land and property: £ £
Operating lease which expire:
- -
Within one year
Other:
Operating lease which expire:
Within one year 3,060 3,227
Within two and five years 1,836
3,060 5,063
----- End of picture text -----

16 Related party transactions

There were no related party transactions during the year (2022: none).

Transactions with trustees are disclosed in note 7.

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Somerset Activity and Sports Partnership Notes to the Financial Statements For the Year Ended 31 March 2023

17
Financial instruments		 17
Financial instruments
Categorisation of financial instruments
Financial assets measured at fair value through income
and expenditure account		 2023
£
649,341		 2022
£
375,247
Financial assets that are debt instruments measured at
amortised cost		 1,796,763 1,604,620
2,446,104
1,979,867
Financial liabilities measured at amortised cost 382,244 265,412
Item of income, expenditure, gain and loss
Income
£
2023
Financial assets measured at
-
fair value through income
and expenditure account
-
2022
Financial assets measured at
-
fair value through income
and expenditure account
-		 Expense
£
-
-
-
-		 382,244
Net gains
£
-
-
8,833
8,833
265,412
Net losses
£
26,284
26,284
-
-

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Page 47