2022-03-31-accounts

A N N U A L R E P O R T & F I N A N C I A L S T A T E M E N T S 2 0 2 1 / 2 2

01 02 COMPANY CHAIRMAN’S STATEMENT INFORMATION

03 04 TRUSTEES’ REPORT AUDITOR’S (INCLUDING REPORT STRATEGIC REPORT)

05 06 FINANCIAL NOTES TO THE STATEMENTS FINANCIAL STATEMENTS

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TJ]e: DIRECTOR TRUSTEES Martin Solder Chair Cllr Saira Jamil Appointed 41hJune 2021 Linda Perham Kevin Pittman Catherine Rowan Dev Sharma David Thorogood Brian Spinks Stephen Wilks Caroline Ward Cllr. Robin Turbefield Cllr. Sareena Sanger Resigned 19. June 2021 Resigned 1g'June 2021 CHIEF EXECUTIVE lain Varah COMPANY SECRETARY Pam Flindall Telephone [phone] ankers National Westminster 3rd Floor 280 Bishopsgate London EC2M 4RB [e-mail] Charity Registration No. 1122720 External Auditors Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP WebsTte Address www.visionrcl.org.uk Company Registration No. 6032714 Winckworth 5henNood, Minerva House 5 Montague Close London SEI 9BB Registered Office 3rd Floor, Redbridge Central Library Clements Road, Ilford, Essex IGI I EA

Welcome to our 2021122 Annual Report and Financial Statements A MESSAGE FROM OUR CHAIRMAN As I reflect on the last financial year, l am really pleased that a degree of normality has been restored and that usage and income have begvn to return to near previous levels. The last two years have been a traumatic experience for all of us, both on a personal and professional level, and again I want to give recognition and thanks to all the Vision staff. They continue to be the charitys greatest asset and many as always have gone the extra mile way above what could have been reasonably expected. For instance, a number of our venues have been vaccination centres for Healthbridge and staff have worked to ensure that the facilities management of every phase of the full vaccination programme have been met. Our Parks staff once again worked tirelessly throughout the year, experiencing very high levels of usage with all the operational problems, particularly litter, that come with it. The majorchallenge isthe year ahead and further recovery from the effects ofcovid. We have been exceptionally lucky this year to have received so much external support in the form of the Leisure Facility Recovery Fund and Culture Recovery Fund, as well as a range of closure grants related to the number of leases that attract rateable value. That said, this yearfs very successful financial position means that for the first time the charity has exceeded its free reserve policy funds target. The reserve now stands at £1,286,000 which will put us in good stead for the year ahead and the challenge of building our membership numbers and swimming and cultural services income back to pre-covid levels. The Trustees and I were really pleased that after prolonged discussions and negotiations, the fiv year Funding & Management Agreement extension with London Borough of Redbridge was signed in May. In particular, the detailed amendments to the pension provisions give significant additional comfort to Trustees, and the reduction in risk also mean5 that the pension deficit is now matched by an equivalent asset. Importantly, there is now a standard methodology of indexation related to CPI in the contract that also gives significant assurance in the world of escalating costs. In addition, following a Trustee request and as part of the disCU55ions with the Council, it was agreed to reduce the number of Council appointed Trustees from three to two and we have duly amended our governing articles. As we all know, world economics have changed significantly following the start of the war in Ukraine, including gas and electricity prices which have multiplied many times. One of Vision's most significant COStS IS Utilities, and it wa5 decided pre all the increases to move away from the local authority consortium LASER contract to a more beneficial arrangement. With regard to gas, a contract with a fixed price over four years was signed that should mean an annual increase of approximately £200,000. Whilst significant, current rates are many times this figure so the resulting certainty for Vision 15 very welcome. With electricity, prices were falling and board therefore decided to pay out of contract rates for a number of months until a new fixed price contract was agreed, the effects of which are included in this yearfs accounts. We have now bought ahead at preferential rates and the annual additional costs based on previous leve15 of usage will be an additional £145,000 per annum.

We revisited the Vision safeguarding policy and rfrengaged with our insurer Zurich's specialist team to undertake a review. As a consequence, I took on the role as board level safeguarding champion, over 300 staff have completed and passed our accredited online safeguarding training and we continue to roll the training out to casual staff and volunteers. We have further backed the safeguarding training with relevant social media training that is a mandatory pre-requisite before staff can access any of our social media platforms. There have been a number of notable service changes that are outlined in more detail in the body of the report. They include Loxford Youth Centre going back to the Council to become the Borough Pupil Referral Unit, and Redbridge Swimming Club being taken over by Vision with a number of coaches transferring to become our employees. We have employed an Aquatics Manager to grow competitive swimming, but also to manage and expand the swimming lesson programme. Woodford Green Library reopened in October following a comprehensive refurbishment and the addition of a high spec"bOutiqv￿ gym facility. The Library is now open seven days a week and has additional opening hours. both early morning and late evening. Similarly, the "express" gym at Ashton Playing Fields opened in the new stadium development and has quickly become popular. The Kenneth More Theatre emerged from lockdown with a really successful summer production of the Little Mermaid where over 90% of tickets were sold, and the newly constructed food and beverage facilities in the foyer exceeded all expectations. This was followed up at Christmas Wlth our best ever Pantomime, Cinderella, where again food, beverage and merchandise sales broke all records. The external job market and difficulty recnjiting and retaining high quality staff is a regular feature in our service committees. The Council phased funding of the London Living Wage has clearly helped significantly recruiting at entry level, but we have also Struggled to recruit in a number of key roles. It is also recognised that we need to retain senior managers in the current job market and as a consequence Trustees agreed the commissioning of Ashton Consulting to conduct a highjevel review of the management structure. On completion, they concluded at a joint meeting of the Executive and Staffing & Remuneration Committee that the strategy of strengthening the management Structure with specialist staff was the appropriate approach in the current employment market. As a result, we formali5ed the internal appointments of the Head of Leisure Facilities, Head of HR and the Head of Finance. The role of the Sport & Health Manager has been expanded to cover the health remit across the company and, as well as the Aquatics Manager, we have also employed a Group Exercise Manager and a Food and Beverage specialist at Fairlop Waters. We are continuing to review and strengthen job descriptions and teams to ensure that we are well placed for the next few years of operation and that succession is planned for, a5 well as exploring further recruitment and retention options. I look forward to another successful year of innovative projects. At the end of 2021 we heard that we had been successful in our application to the Arts Council England's Creative People and Places Scheme where Vision, as the lead partners on behalf of the Creative Redbridge con50rtium, will empower the community to shape and commission cultural activity in Redbridge in the next few years. There is also the £7,300,000 National Heritage Lottery funded restoration project at Hainault Forest which is due to finish late 2022, and commencement of the construction phase for the new Wanstead Community pool. As always, I do want to sign off by giving my unreserved thanks to the commitment and hard work of all my fellow Trustees, volunteers and staff that has contributed to another very successful year for Vision. Chairman

TRUSTEES, REPORT (INCLUDING STRATEGIC REPORT) 03 The Trustees, who are also Directors for the purposes of the Companies Act 2006, present their Report and Financial Statements for the year ended 31 st March 2022. This report has been prepared in accordance with Charities Act 2011, and also contains the information required by the Companies Act 2006 (Strategic Report and Directors, Report) Regulation5 2013. The Financial Statements on pages 51 to 53 have been prepared in accordance with the Accounting Policies set out on pages 54 to 58 and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and the Charities SORP IFRS 1021. STRUCTURE, GOVERNANCE AND MANAGEMENT Vision-Redbridge Culture & Leisure Iwision'l is a charitable company limited by guarantee (registered in England and Wale5, company number 60327141. It 15 also a charity registered in England and Wales (Charity Commission registration number 11227201. In the event of winding up, the Trustees, who are the sole members of the company, are required to contribute an amount not exceeding £1. Vision's governing document IS Its Memorandum and Articles of Association. A Board of Trustees is responsible for the oversight of Vision's operations. Board member5 set objectives, approve the annual budget and determine overall policy. The Articles of Association currently require a minimum of six Trustees to be elected to the Board at any one time, with a maximum of 12. A maximum of two 'Local Authority Trustees. can be nominated by the London Borough of Redbridge 1.the Council'l. All other Trustees are known as "Ordinary Trustees. At each Annual General Meeting, one third of Ordinary Trustees must retire, with those longest in office retiring first. The Board meets a minimum offour times a year and delegates the day-to-day management ofthe Trust to the Chief Executive and Senior Management Team ISMTI. In addition to the main Board, there are six SukFCommittees (Executive, Audit, Arts, Culture & Libraries, Parks & Open Spaces, Sport & Leisure and Staffing & Remunerationl that meet with the same frequency as the main Board a5 part of a cyclical timetable. SENIOR PAY POLICY The key management personnel are the Trustees and the Senior Management Team I"SMTI. Collectively, these are the persons having authority and responsibility for planning, directing and controlling Vision's activities, either directly or indirectly. All Trustees serve on a voluntary basis and are not remunerated. Details of Trustees, Expenses and Related Party Tran5artions are disclosed in Note 11 of the Financial Statements. SMT comprises three senior managers, including a Chief Executive and two Heads of Service. The Chief Executive under delegation5 from Trustees determines the SMT pay structure in consultation with the Staffing & Remuneration Committee, with roles subject to a Job Evaluation proce55 and consideration of external market rates. The total employee benefits received in 2021122 by key management personnel are disc105ed in Note 9 to the Financial Statements.

EMPLOYEES Vision is committed to encouraging equality and diversity among our workforce and eliminating unlawful discrimination. Our workforce should be truly representative of the diverse community it serves and for each employee to feel respected and able to give their best. Job applications and career development opportunities are considered solely on the basis of merit, regardless of age, gender, race, ethnic origin, religion, disability, marriage and civil partnership, sexual orientation, gender reassignment, pregnancylmaternity or any other factors. 03 Vision especially welcomes job applications from people with disabilities and 15 committed to making reasonable adjustments wherever necessary throughout the recruitment process and during their employment with the Trust. As at 31 March 2022, the Vision gender profile was as follow5: Director Trustees Senior Managers Staff 6 Male, 4 Female 3 Male 280 Male, 342 Female dlrector trustees senlor management staff GENDER PAY GAP The gender pay gap is the difference between the average earnings of men and women over a period of time irrespective of their role or seniority. Wision is committed to the fair treatment, reward and recognition of all staff, irrespective of gender. Our pay and grading strategy is linked to the level of responsibility for a role, wheie each grade has a set pay range with spine points in between grades. Staff are expected to move through the pay range for their grade based on performance via an annual appraisal proce55. Similar with the results from 2020, comparisons against pre-pandemic outcomes means it is not easy to critically analyse the data and compare and contrast with previovs years. As with last year, the reporting methods have excluded non full-pay related employee5, as our casual workers, who make up a significant part of our workforce would have been on furlough at the 2021 snaFFShot date. The levels of casuals on furlough also reduced during subsequent lockdowns. The results for the mean and median continueto be lower than wewould have expected to report. However, there remains a positive balance of female employees at jvnior and middle management. Our longer-term challenge remains committed to extending to senior management level. We remain committed to ensure that all staff receive relevant equalities training, and recruiting managers are aware of their responsibilities to ensure decisions are made transparently and objectively to help minimise gender bias.

0.50% 0.75% LOWER (mean) HIGHER (median)

47.6% 52.4% 39.4% 60.6% MEN WOMEN MEN WOMEN

48.1% 51.9% 46.6% 53.4% MEN WOMEN MEN WOMEN

18% 31.60% 41.59% 45.74% (lower) (mean) (lower) (median) OF MEN OF WOMEN

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03 06JECTItrEJ Vision's governing objectives are contained within its Memorandum and Articles of Association which were drafted and adopted in setting up the original Trust in 2007. The expansion of the Trust in 2011, and then in 2016, led to a widening of activities within the scope of those objertives. Trustee5 further reviewed Vision's Objectives with Eastside Primetimers during 2017118 and the revised version 15 more focussed to the operation of Vision, with our vision taking a more prominent place within our marketing and branding. OUR V i s i o n Providing places where people and communities can thrive. Core Purpose Supporting people and communities to thrive. l. To improve the health and wellbeing of local residents by providing physical, cultural and learning experiences. Objectives 2.To build stronger and more 5UStainable communities. 3. To improve the skills of our communities through participation and learning. 4. To focus our resources on delivering our purpose cost effectively. We offer inclusive, affordable cultural artivities and event5 Act i v i t i e s for local people. In the places and spaces we manage, people feel safe and have opportunities to explore, relax, exercise, socialise and learn together.

03 In shaping the immediate objectives of the Trust and planning activities, Trustees are mindful to take into account the requirements of the Charities Act 2011 las guided by the Charity Commission) in terms of the public benefit requirement. It is an overriding consideration, and Vision remains committed to meeting both the"benefit' and"public' aspects in everything it does. For example: Diverslty and breadth is a priority in the provision of the culture and leisure services that we provide, often for example through providing and promoting cultural activities directly relevant to specific sections of the community, but including the broader aim of developing an understanding and appreciation in the wider community Ithus promoting community cohe5ionl. Many cultural activities especially therefore remain free of charge. The same commitment to public benefit prevails where services are subject to charges. For example, Vision has long managed the Redbridge Leisure Pass scheme, available free of charge to residents aged over 60, the disabled, those on low incomes or in full-time education. The Pass entitles holders to discounted entry fees on a range of sport and leisure artivities and include5 free swimming for the over 60s on weekday afternoon5. Similarly, the Music Services where fee remission is available to ensure that long term opportunities remain accessible to low income families. Vision also seeks to maximise public benefit in service delivery itself, and is always keen to support initiatives such as work experience scheme5 and volunteering initiative5, thus further engaging with the community and providing access to valuable work and life experience from which participants can directly benefit.

03 ACTIVITIES The activities of Vision are wide ranging and primarily based in the London Borough of Redbridge. ARTS CULTURE AND LIBRARIES. The Culture & Libraries service division comprises six key areas of activity.. Operating a large Central Library and twelve branch libraries within Redbridge. A Schools, Library Service 15 also operated, which covers a wider area of outer London. The Central Library host5 a number of specialist services, including for example, Redbridge Museum and Heritage Centre and Hub Central- which is being reshaped as a community advice and information hub, and Lab Central an interactive innovation and technology lab for digital learning and entrepreneurs. Culture Development Responsible for administering the Redbridge Arts Grant Scheme and sUPPOrting community arts organisation5 to develop and thrive, delivering a wide range of cultural/arts activities, ranging from Theatre in the Park to Children's Theatre and a cultural programme in Ilford Town Centre and Ken Aston Square. Museum and Heritage Redbridge Museum & Heritage Centre delivers comprehensive education, exhibition and events programme showcasing the Borough's history, often set in a global context and in partnership with local community organisations. The local studies and archive resource5 support local history and family research. The Museum is currently undergoing a major redevelopment, with a reopening scheduled for Autumn 2022. klUI,

03 Community Services Further resp)nsibilities include the Central Library café, Mildmay Neighbourhood Learning Centre (home to an 'Outstanding' rated nursery, and a managing agent role for three Redbridge community centres). Vision Venues The Vision Venue5 Team manage5 Valentines Mansion, Sirjames Hawkey Hall and RedbridgeTown Hall Main Hall & Lambourne Room. Valentines Mansion is a 300 year-old mansion house that Is home to weddings, ceremonies, exhibitions, special events and creative workshops, along with an education programme for school children. The Mansion is also open to the general public with guided tours and private hire. Walks and outdoor music and theatre also take place in the gardens. Vision and Redbridge Council's Registrars Team work in partnership to develop Valentines as the Borough's primary marriage and ceremony venue, with one customer pathway for enquiries and bookings. Hawkey Hall and Redbridge Town Hall are large civic/function venues and have been used a5 covid vaccination centres over the last two years. Both will be brought back into general use in 2022, although Redbridge Town Hall will be completely redecorated prior to return to Use. Music Service Delivers opportunities for children and young people to learn and engage with music, including schools-based teaching, from whole class learning through to individual tuition. Further opportunities include participation in ensembles and choirs, with an annual concert programme. The Music Service is also the lead organisation for the Redbridge Music Education Hub, working in partnership with a range of music organisations.

Redbridge Drama Centre & Kenneth More Theatre 03 Redbridge Drama Centre IRDCI fringe theatre venue offers performances by professional theatre companies alongside it5 own resident theatre companie5, driven by a new strategy 'Redbridge Creates,. A key pillar of Redbridge Creates is to 5UPPOrt and develop young people. The Centre commissions and produces touring shows for schools and supports curriculum based learning through schools and oTrsite workshop5. RDC has National Portfolio Organisation status from Arts Council England for its work with youth theatre, and also provides development 5UPPOrt to new and emerging talent. KENNETH MORE THEAT Ul!! The Kenneth More Theatre IKMT) in Ilford has a 360-seater auditorium and studio space. The KMTS expansive theatre programme presents a diverse range of performances and show5, plus private hire opportunities. The KMT also enables development and progression opportunities to smaller, grassroot theatre companies, complementing the work of Redbridge Drama Centre. Both Redbridge Drama Centre and the Kenneth More Theatre are operated by a multi-disciplinary team working across both venues.

PARKS AND OPEN SPACES 03 The Parks & Open Spaces service division carries ovt a range of activities including.. Managing Valentines Park, along with eight other fomial Borough parks, all of which have facilities that include outdoor gymnasia, bowling greens, tennis courts and a variety of children's play areas. This management also extends to a further 40 recreation grounds, many of which contain similar facilitie5. Vision operates Hainault Forest Country Park, including a farm and ancient forest, as well as Fairlop Waters Country Park which includes fishing, boating and other seasonal aqua-sports. The boathouse includes a cafe, lounge, function suite and toilet5. Alongside this we also manage'owls, which is an indoor play facility, catering and party venue. Grounds Maintenance Operations and management of grounds maintenance for parks and open space5, plus individual contracts with schools, residential homes and private sports grounds, as well as a contract for monitoring play inspections on housing sites. A specialist team providing support and advice to Redbridge Council on ecology and managing the Borough's nature conservation assets. Physical sites include Roding Valley Park, Hainault Lodge Local Nature Reserve and Claybury Park, as well oversight at Hainault Forest. The team is based at the Jame5 Leal Centre where they run a successful education programme for schools. They also manage and run a range of projects, including a highly successful volunteer programme, managing key partnership5, including Redbridge's main tree planting initiative with Trees for Cities, and other projects and initiatives across the Borough. Allotments Managing almost 900 allotment5 at l O different sites, as well as monitoring l 0 Society managed sites acros5 Redbridge. Events Organises a wide range of community festivals in Redbridge, as well as a full programme of events and commercial hires. 4¥.

SPORT AND LEISURE 03 The Sport & Leisure service division comprise5 two key areas of activity. Operating leisure centres at Fullwell Cross lincluding pools, fitness and spa facilities), Loxford (dual- use facility with pool, sports hall and outdoor pitchesl, Wanstead Idual-use facility with sports hall, fitness facilities and squash courts), Mayfield Leisure Centre (pool, studio and Gym which is a150 complemented by the School sports hall, all-weather pitch out of school hours.) Two outdoor sports grounds with athletics tracks are also operated at Cricklefields and Ashton Playing Fields (including an astro turf pitch). A new Club House with gym wa5 opened in early 2021 at Ashton Playing Fields. In addition, Vision operates Redbridge Cycling Centre, South Woodford Gym/Studio, Fairlop Outdoor Activity Centre and a High Ropes course with outdoor climbing wall. Woodford Green Library rfropened in October 2021 with a new gym facility. Vision took over the Redbridge Borough Swim Club in April 2021. Sport and Health Managing, coordinating and delivering a range of sport, physical activity and health and wellbeing community programmes. The team offers universal programmes, as well as a referral service targeting children and young people, older people, females and people with disabilities or long- term health conditions. Focus areas include Active Communitie5, a range of physical activity and wellbeing interventions that meet the need of local residents, with a particular focus on community engagement and health promotion. Health Intervention, to address health inequalities, improve physical activity levels, reduce obe51ty and support positive mental health and behavior change through our Exercise on Referral IEORI and adult and children Tier 2 weight management programmes. Programme Development, managing and developing group exercise programmes within leisure facilities and community venues. In addition. the team organises sporting events for young people, adults with disabilities and health awareness events and workshops. Youth Centres Two centres (based in Loxford and Wansteadl offering traditional 'drop in, yovth sessions, a range of activities including dance, drama and 5POrts and community spaces for hire. In the summer, Loxford Youth Centre was transferred back to Redbridge Council, to become the new Pupil Referral Unit. 1111

03 STRATEGIC REPORT 2021122 The constitution of Vision as a charitable Trust bring5 some key advantages, such as NNDR relief and significant VAT advantages, as well as access to external funding which directly run Council service5 and private sector competitors are not eligible for. Vision is a social enterprise that is able to utilise those advantages and many others for the benefit of Redbridge residents. The Trust has a lower cost base compared to the previous 'in-house' Culture and Leisure services which has helped to protect and expand many valued service5. The Trust has been able to benefit from government support during the Covid-19 pandemic via furlough, closure grants and external funding from Sport England and Arts Council England. Where the Trust competes with the private sector, especially in the field of Leisure services, the non-profit making model enables fees and charges levied on the public ro remain affordable to residents, thus maintaining accessibility and promoting inclusion. ACHIEVEMENTS AND PERFORMANCE The 2021122 financial year has been challenging in the context of the Covid-19 pandemic, given the broad range of Vision's services and associated restrictions that were in place throughout the year. Facilities reopened during the year and services were restored as restrictions were relaxed. By the summer, a degree or normality was restored. The pace of recovery has differed across services, with leisure showing a faster pace than libraries forexample. Vision has been able to successfully navigate throughout the pandemic and has been agile and responsive, playing a Significant contribution to wellbeing and community support as needed. Vision has continued to deliver a significant number of achievements throughout the year, despite the slow recovery in some sectors, and a number of service developments have been delivered.

541,47 1,217,289 429 Over 24,000 833,459 32,000 9 Over 25,000

429 833,459

Over 2,500

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03 TO IMPROVE THE HEALTH AND WELLBEING OF LOCAL RESIDENTS BY PROVIDING PHYSICAL, CULTURAL AND LEARNING EXPERIENCES Funding from the England & Wales Cricket Board was secured to install a new non-turf lartificiall cricket pitch at South Park in Ilford. The new pitch is part of the London Cricket Trust's project to bring cricket back into Redbridge parks. This is a joint venture with the London Borough of Redbridge working in partnership with Wision, the London Cricket Trust, England & Wales Cricket Board IECBI and Essex Cricket in the Community. The non-turf pitch will provide a new accessible pitch for the community, schools and clubs to enjoy. Further funding has also been secured via the England & Wales Cricket Board to invesr into cricket facilitie5 in Redbridge. This is on the back of the excellent relationship between Vision and the England & Wales Cricket Board and Essex Cricket. Many publicly accessible sites will look to gain from this funding with the potential for new non-turf pitches, hybrid pitches and grounds renovation funding available. The Year 4 project of the Council's Capital Play Improvement Programme was delivered with refurbished sites at Fairlop Water5, Churchfields Recreation Ground, Lechmere Avenue, Redbridge Recreation Ground and a new table tennis table at Manford Way. In addition, significant investment has been allocated for the new play area at Hainault Forest. Working with the Council, Vision successfully managed the project to design and install a new multi -use games area at Manford Way, plus renovate the green space, install an outdoor table tennis table, plus new bins, and benches. In 2021122, we retained Green Flag awards for nine sites within Redbridge and raised the standards of parks by working with user groups, friends, groups and volunteers. Green Flag awards are the premier standard in parks and open spaces. With funding provided bythe Council, a Parks Community Engagement Officer has been appointed to develop and deliver action days in parks and work to develop and support more Friends of Parks groups via the Our Parks initiative.

03 2021 Action Days was initiated as a rebranding for Volunteer engagement exercises offering member5 of the public the opportunity to improve their health and wellbeing by providing physical, cultural, and learning experiences. Vision hosted Action Days consisting of consultation, involvement, participation, and research exercises with Park stakeholders. In 2021, six sites hosted Action Days, with approximately 20 Action days being held throughout sites. So far in 2022, Vision has led six Action Days acros5 five separate sites, two of which have not been targeted previously. These included Litter Picking, Selective Hedge Pruning, Bulb Planting, Second Stage Pond Development and Bug Hotel building. The Our Park5 Scheme wa5 launched in 2018 and in 2021122 we had an increase oftwo Community Groups volunteer to undertake a Forest Garden in Valentines Park and to plant native hedging whips at Wanstead. The Parks Operations team picked up yet another record amount of litter in 2021, with a staggering 75,000+ bags having been collected up 8,000 from 2020. Our skip provider recycles over 97% of the litter we collect, whilst the remaining goes to Waste to Energy and is put back into the national grid. We have installed nine memorial benche5 and five memorial trees in various parks around the Borough, along with the design and construction of the Japanese Embassy funded Sakura Cherry Tree Garden Project, which included 70 Cherry tree5 and eight Black Pines. Redbridge in Bloom celebrated its 26th anniversary in 2021 and is now an event for all ages, giving residents and school children the opportunity to demonstrate their creative gardening skills. Over 900 allotment plots are now let annually and at the same time we have developed significant partnerships with charities, community groups and schools on allotments across the Borough and delivered a programme of volunteering workdays and training events. Allotments continue through partnership working with TCV (The Conservation Volunteers) to deliver a range of positive outcomes for nature and the local community, with projects at Redbridge Lane West, Redbridge Lane North and Wanstead Park Road.

03 Valentines Mansion & Gardens continues to be a focal point in Redbridge and has a significant role in building stronger and more sustainable communities through the love and interest shown toward5 Its Horticultural / Botanical collection of plants for people to visit and enjoy. Another successful partnership was developed at Goodmayes Park with Ekota and Essex Cricket to develop sport within the parl but also club management of playing surfaces and the associated pavilion. This has led to the opening of the 'Emerald Café, which is accessible to all park users and groups. The Boathouse at Fairlop Waters continued to operate and thrive and provide a facility for the local community to use during their daily exercise periods, offering interaction and support as well as coffee and toilet facilitie5. The Nature Conservation Team has developed a database of over 1,000 subscribers for its monthly newsletters. They have also developed and run a Facebook group page - Nature Conservation in Redbridge which is a key platform to communicate with our sUPPOrters and drive forward Borough campaigns. Currently the page has close to 1,000 members. There are a150 highly developed links with local groups in Redbridge which help u5 communicate the nature conservation message to the community- 20

1395 382 107 TOTAL REFERRALS 18 92% 252 HOLIDAY SESSIONS 03 EXERCISE ON REFERRAL MEMBERS OF PARTICIPANTS SAIDTHEY HADA POSITIVE EXPERIENCE MEMBERS ON AN EXERCISE ON REFFERAL MAINTAIN MEMBERSHIP FOOD HAMPERS DISTRIBUTED The overall number of customer visits to Redbridge leisure facilities in 202112022 was 833,459. This was lower than prfrcovid user figures, however with Covid recovery from r￿openIng in April 2021 and despite some initial hesitancy on returning to leisure facilities which eased month by month, customer vi51ts returned to near normality by early 2022. With a significant reduction in live members during Covid closures, three key membership promotions ran throughout 2021122. These included increasing the range of marketing in new locations, i.e., on buses, at tube stations and in parks, as well as a greater website and social media presence. On r￿opening in April 2021, all existing members had a reduced fee for the first three month5 from May to July, and all new members when joining received membership at £30 a month instead of £47 a month for the first three months. This was very successful with over 1,000 membership sales between April and June 2021. From January to March 2022, we ran a New Year promotion offering a £20 month membership which again was very successful, generating over 1,200 new sales. In February 2022 for the first time we also offered an annual membership at a large discount with 225 annual memberships sold. A refurbished Woodford Green Library & Gym opened in October 2021 on the existing library site following the successful South Woodford model, which has been the subject of national attention and case studies. Investment included a range of new gym equipment from Life Fitness. Beaverfit and Technogym. The revitalised library space includes redecoration and new furniture throughovt, investment in new book stock, additional study capacity and a small meeting room for community use. Feedback ha5 been very p051tive from opening and the initial gym sales are in line with expectations. Further investment was made in gym equipment at South Woodford, Mayfield, Wanstead and Fullwell Cross. This included the addition of new kit, i.e., power plates and skill mills. This year has seen the easing of many Covid restrictions and the Sport & Health team ha5 been able to restart the majority of our health and community engagement programmes. Those still affected by the pandemic are mainly vulnerable, older people, people with disabilitie5 and long- term health conditions. The Sport & Health team continue5 to adapt provision to support resident5 to improve their health and wellbeing. The Exercise on Referral IEORI Scheme started iTrperson sessions again when the leisure facilities reopened in April 2021, but with a heavily reduced capacity. Over the last 12 months, the EOR team has been working c105ely with GPS and other health professiona15 to adapt the referral pathway due to GP surgeries undertaking very few fac+to-face appointments. Cardiac, stroke and cancer rehabilitation sessions were able to be implemented, along with nutritional courses being held in- person and online. Within the last 12 months, the scheme received 1,395 referrals where 76% of participants showed a weight loss and reduction of initial body max index, blood pressure and waist circumference at six months after completing EOR. I 00% participants stated they had a t)ositive experience.

In April 2021, EOR piloted a pre-diabetes weight management course with two Redbridge GP surgeries, receiving over150 referra15. Participants were able to attend twelve exercise session5 and tWelv￿week nutrition course. 77% of participants lost weight and 73% reduced their Hba1 c (average blood glucosesl levels which was deemed a success. This year has a150 seen the EOR scheme secure additional funding for a Tier Two adults weight management programmeover a four-year period. The weight management programme is open to all patients referred on to the EOR scheme, and due to the success of the pr￿dIabeteS pilot, the programme now accepts pre-diabetes Patients. The programme has also set up a pathway with the long Covid physiotherapy team enabling long Covid patients to start exercising again under supervised sessions. The Wellbeing Walk programme opened up fully in April 2021 once restrictions had been lifted. The programme continues to provide opportunities for resident5 to engage in regular walks whi15t supporting social isolation and falls prevention. The programme also includes weekly inclusion and mobility walks for people recovering from strokes and other mobility impairments such as MS, cancer, and a dementia walk for people living with dementia. mental health illness and disabilities. This year the programme had 3,100 attendees. After a successful funding application to the GLA Active Londoners fund, the Wellness Together programme launched in September 2021. This referral programme supported women who were inactive, struggled with isolation. had a child or escaped domestic violence during the pandemic. The programme piloted a new way of working for the Sport & Health team using the WITH model,, working with other local partners and programmes as a referral method, including Freedom lescaping domestic abuse), and Mum's Matter Imind service) to support women achieve positive mental health and long-term behaviour change towards physical activity. In partnership with Children's Centres, crèches were also offered to assist with the childcare barrier. Within the first cohort of referrals. we received 94 referrals and 80 participants who completed the 12-week programme felt the programme helped them realise the importance of physical activity and the positive effect it has on individual well-being. In september, a Group Exercise Manager was appointed to retain leisure facility memberships and to increase the number of pay as you go opportunities. The role has been vital in developing the Group Exercise programme within leisure facilities, as well as expanding the programme to our local libraries. 15 new instructor5 have been recruited allowing new classes to be established, including Clubercise, aqua Zumba and Bangura fitness. Vision has invested in new equipment to ensure customers get a positive experience, as well as focusing on the marketing and promotion of the programme which has included a monthly group exercise newsletrer, community classes added to the Vision App and a number of social media promotions, and a website promotion video. The programme continues to grow and develop and has a posltive impact on members, experiences.

03 11!liiil*¥ Arts, Culture & Library Services began recovery in earnest early Summer 2021, with all libraries reopening in time for the school summer holidays. Redbridge Drama Centre and Kenneth More Theatre recommenced live performance without social distancing requirements and the return of outdoor theatre and events. Redbridge Music Service moved back to face-to-face teaching, although with a slight reduction in Whole Class Ensemble Teaching until the new academic year. Highlights through the year include.. Libraries attracted over 541,000 visit5 and issued 1.2million items, generated by the Redbridge Library members, in addition to the wider Libraries Consortium membership. Library services reopened and borrowing increased throughout the year, although the number of overall library visit5 remained below pr￿pandemIC leve15 and it wa5 only late on in the year that the range of activities and community use recommenced. Digital library loans and downloads peaked significantly during the pandemic and accounted for the majority of library borrowing. However, thi5 has now settled and consistently represents 15q6 of all loans, which is higher than the 7% pr+pandemic level. Vision has supported the wider Covid vaccination and testing programme5, Wlth Sir James Hawkey Hall and the Town Hall in use a5 vaccination centres for the duration, supported significantly by the Vision Venues team. Central, Gant5 Hill, Fullwell Cross, Keith Axon and Hainault Libraries continued to support Covid testing throughout the year, along with Wanstead Youth Centre. 23

03 TO BUILD STRONGER AND MORE SUSTAINABLE COMMUNITIES As part of the restoration project at Hainault Forest, the works on site have started and will be completed in late 2022. This £7.3m Council project is funded by the National Lottery Heritage Fund, Greater London Authority and Redbridge Council and will See investment to improve and restore the condition of the Forest and provide new visitor facilities in the renovated Fox Burrow barns. Vision is managing the restoration project on behalf of the Council and has also secured funding from the Garfield Weston Foundation of £45,000. Two new orchards have been planted at Hainault Forest as part ofa new programme of events and volunteering, which will be delivered by two Community Forest Rangers recruited to deliver the project Activity Plan. A substantial natural flood management programme of works, funded by the Environment Agency, has taken place in Hainault Forest, to create a high quality wetland habitat, r+naturalise the landscape and provide better surface water flood resilience to the local area. This £45,000 projert will be bolstered by further work with volunteers as part of the Activity Plan. Vision has continued to develop the relationship with the Woodland Trust at the Forest as a project key partner, working to ensure visitors enjoy a seamless experience across the whole of the Forest a5 well a5 exploring the variety of environments the Forest offers. In partnership with the RSPB Valentines, weekly Bird Walks (October to April) lead by a RSPB representative took place which continued to teach participants how to identify bird species through sight and sound. The creation of additional Wildlife Ponds l Habitats in Valentines Park and Redbridge Lane West Allotments. The Keep Britain Tidy'People's Choice Award,, saw Valentines Park voted back into the Top l O parks in the country.

Desplte restrictions, our Events Team managed to safely plan and deliver the Armed Forces Day and Remembrance Day events. Armed Forces Day was also filmed and streamed live, whi15t the Holocaust event was filmed and delivered virtually due to restrictions. In addition, funfairs were successfully hosted in Valentines Park, Fairlop Waters. Barley Lane Recreation Ground and Christchurch Green. Fairlop Fair, Wanstead Festival and Our Community Festival were all delivered attracting over 15,000 people. 03 On behalf of the Council, Vision inspects all the play areas in the housing 51te5, and also inspects and monitor defibrillators in or around council buildings. We hosted Tree Amig05' at Christchurch Green in December selling Christmas trees to local residents, and also hosted a Winter Wonderland at Fairlop Waters which included an outdoor ice rink. Vision installed a new wateT supply at Wanstead Park Road Allotments and dipping tanks at other sites, as well as six new Allotment toilets. Fairlop Outdoor Activity started a partnership with Fairlop Boat Hire with rowing boats and other small craft hired out on the lake at Fairlop Waters. This was successful and the partnership has now been extended for a further three year5. Active Together, a plac&based approach projecr focusing on the Hainault area, was able to restart. The programme included an activity taster and consultation event with over 60 residents from the Hainault area in attendance. The event was run with local partners and provided an opportunity to ask residents what activities would encourage them to be more active on a regular basis. These conversations have allowed the Sporr & Health team ro gain further understanding and they are now working with Hainault residents to co-design future plans. So far, the developments have included a Teen and Mum, weekly boxfit session and monthly themed health and wellbeing events and workshops. In April 2021, the Sport & Health team was commissioned by Redbridge Council to deliver the Easter Holiday Activities and Food IHAFI. Due to the pandemic and Covid restrictions. the programme was delivered online. The Sport & Health team worked in partnership with other Vision services, including Arts and Culture, Drama and Libraries, to provide physical activity sessions alongside positive enrichment activities. The programme also provided families with free food hampers to support them during the Easter holidays and allow them to take part in the cooking and healthy eating element5 of the programme. 93% of primary children attended at least four of the eight sessions and 92q6 of participants said they had a positive experience and rated the delivery as very good or excellent. Any remaining food that was not collected was distributed to local food banks to support local residents. , Sport & Health Team 25

03 Due to the success of the Easter HAF programme, the Sport & Health team secured additional funding from London Sport to develop an outdoor six-week multi-sport programme. 117 children registered with 341 attendances across the six weeks, and each child received free sports equipment to encourage families to be active together. Due to demand, the sports sessions continued to run on a weekly basis. The Last Man Stands Cricket programme returned and saw an increase in participation leve15 against pre£ovid levels. The programme now has five leagues at Hainault Recreation Ground and Clayhall Park, with 32 teams registered totalling 207 games over three evenings a week. The winter indoor league at Loxford Leisure Centre also returned with 24 teams totalling 90 games. This programme highlight5 the desire resident have to participate in regular outdoor competitive sport, building community cohesion and engagement. The 2021 Virgin London Mini Marathon was delayed and took place in October alongside the Main London Marathon. Redbridge had a team of 38 young athletes, results included two individual 3rd places and a team 2nd in under 17 boys and 3rd in under 17 girls. The 2021 London Youth Games event programme was still affected by Covid within a restrirted outdoor sports programme, however, over l 00 yovng people took part. The event continues to be SUPF)orted with over 20 volunteers from local sports clubs. The Sport & Health team provide training for these individuals to support local sports clubs throughout the year for young people within the borough. This year the Sport & Health team wa5 presented with a "Special Recognition. award for our partnership work with Muslimah Sports Association IMSAI and our female only programme. Together we aim to provide opportunities for women to participate in several different 5POrts, in safe and positive environment without comprising their religious and cultural beliefs. A fantastic achievement and acknowledgement to the Sport & Health teams, commitment and hard work to breaking down barriers and encouraging participation. 26

TH MORE THEATRE 03 The Art5, Culture & Libraries Team continued to deliver a range of events to celebrate diversity throughout the year. Our programme aims to be diverse and inclusive throughout the year, with number of focal point celebration5 including.. LGBT History Month Black History Month Women's History Month Much of the programme is delivered by a range of partners, with library hosting activifies throughout the celebration. Vision also delivers a range of events and programming beyond the agreed core list, including Mental Health Awareness week, volunteers, week and a range of sector specific events, such as Librarie5' week, local history month etc. Discussion is ongoing about the inclusion of the newly established South Asian History Month in future programming. The Theatre Team a150 contributed to the yearfs diversity celebrations. Particularly noteworthy was the Women's History Month programme, which featured a week of shows featuring women, written by women, directed by women, performed by women or in some cases all four! One of the most exciting stories is about Kathy Kirby who is an unsung icon of our time who was born and bred in Ilford and whose story is both fascinating and tragic. Redbridge Creates held the first South Asian Arts festival in 2021 in collaboration with Kahani Arts. Kahani is now a resident arts company and we have worked with them to produce a week-long festival promoting and highlighting and supporting Southeast Asian art and artist5. This included be a series of workshops for children featuring, storytelling, music, dance and drama delivered by Asian practitioners focusing on the history and traditions of Southeast Asia and will develop further in future year5. Some of the production wa5 a150 5howca5ed during Women'5 History Month in March. Redbridge Arts Grants (RAGS) supports a wide range of local, community based projerts covering broad range of artforms, with good geographical spread across the borough. RAGS helps generate additional funding (cash and in-kindl to support arts initiatives in the borough. Events were largely paused during Covid, with projects restarting late in 2021 and funding available to support local arts organi5ations with their own covid recovery. A reduced RAGS scheme awarded nine grants with value of £14,625 in 2021122. In December 2021, Arts Council England agreed in principle to offer Vision's Culture & Libraries team a grant of up to £998,936 towards the cost of the Creative People and Places programme. The funding will be awarded to Vision over a three-year peTiod from 2022123, as lead partner in the Creative Redbridge Consortium, subject to successful negotiation and the agreement of a Funding Agreement and contract early in the new financial year. 27

Vision will be working with partners from Friends of Loxford, Redbridge Council for Voluntary Services, SPACE, Mercarto Metropolitano and Muslimah Sports Association to develop and deliver the Creative Redbridge Project over the next three years. Creative Redbridge will be an ambitious programme of arts and cultural activity made by and with the people who live and work in Redbridge. With the support of the consortium partners, residents will take the lead in choosing, creating, and taking part in arts and cultural activities that they want and need. The project will launch in Redbridge in autumn 2022 with a series of creative consultation events to better understand what the community is interested in and to recruit volunteers to the programme. 03 Events during this phase will include activities in libraries, neighbourhood street parties, a food and arts festival, creative conversation cafes, town centre events, artist workshops, exhibitions, film screenings, creative lunch and supper clubs and much more. The community will then be supported to commission and make their own arts experiences. This exciting programme will enable new ambitious work to be seen, experienced and enjoyed by more people across the whole of Redbridge. The Theatre sector was particularly affected by the pandemic, however Vision was an exception in terms of digital delivery and theatre recovery, working at pace to support the industry, our audience and supply chain. We successfvlly applied for two rounds of the DCMS'S (Department of Digital, Culture, Media & Sportl Culture Recovery Fund to enable the streaming and recording of produrtions and to support the recovery of live theatre with social distancing constraints etc. In 2021122 there were over 57,000 attendances to a workshop, cla55 or performance at the KMT and RDC. Although significantly reduced from pr￿COV1d levels, thi5 Still represents a phenomenal achievement. The Cinderella pantomime at the Kenneth More Theatre IKMT) completed its full run, one of the only theatres regionally to have achieved this. Over 93 performances were staged over December/January, with four production5 either touring schools or being performed at the KMT/RDC. In 2021122, Vision devised a number business plan and strategy for the delivery of Theatre in relation to Arts Council England's National Portfolio Organisation requirement5 'Redbridge Creates,, which is also the name of our in-house production company. significant aspect of the plan is about supporting new and emerging talent, offering a diverse range of theatre. opportunities for audiences, creatives and performers, both at an amateur and professional level. Redbridge Creates has commissioned and supported an increasing number of artists to produce their own work, with a strong emphasis on Black artists and an extensive range of collaboration5. Vision works in partnership with a range of local and visiting arts organisations in order to support and develop the sector, but also bring high quality arts experiences to Redbridge, particularly in the outdoor arts and theatre sectors. Vision's Culture Team are members of the Cultural Consortium, a group of partners focused on partnership working and cultural development in Redbridge, with a particular focus on Ilford. The project will launch in Redbridge in autumn 2022 with a series of creative consultation events to better understand what the community is interested in and to recruit volunteers to the programme. Events during this phase will include artivities in libraries, neighbourhood street parties, a food and arts festival, creative conversation cafes, town centre events, artist workshops, exhibitions, film screenings, creative lunch and supper clubs and much more. The community will then be supported to commission and make their own arts experience5. 28

This exciting programme will enable new ambitious work to be seen, experienced and enjoyed by more people across the whole of Redbridge. 03 The Cinderella pantomime at the KMT completed its full run, one of the only theatres regionally to have achieved this. Over 93 performances were staged over December/January, with four produrtions either touring schools or being perfonned at KMTIRDC. In 2021122, Vision devised a number business plan and strategy for the delivery of Theatre in relation to Arts Council England's National Portfolio Organisation requirements 'Redbridge Creates,, which is also the name of our in house production company. significant aspect of the plan is about supporting new and emerging talent, offering a diverse range of theatre opportunities for audiences, creatives and performers, k)oth at an amateur and professional level. Redbridge Create5 has commissioned and supported an increasing number of art15tS to produce their own work, with a strong emphasis on Black artists. Redbridge Creates aims to increase in house production, including a musical in collaboration with Redbridge Music Service. a Summer family production, a Shakespeare season. a Christmas play for Primary pvpils at RDC, two touring Christmas shows for Primary pupils and Secondary pupils and a pantomime at the KMT. In 2021 we delivered 93 performances acr055 our four Christmas produrtions despite the challenges of Covid at that time. In 2021 we produced two Theatre in Education ITIEI shows as part of our engagement with schools and to support the return of theatre,. Carcall which featured themes relared to misogyny and female representation which was delivered to 4,500 Year 9 pupils and Jungle Book which wa5 aimed at Year 6 pupils, featuring themes of transition and bereavement this was delivered to 1,200 students. This built on previous TIE projects which enjoyed phenomenal feedback from schools, leadership. In August 2021, Redbridge Create5 Staged a production of Disney's The Little Mermaid musical at the Kenneth More Theatre. The production sold over 90% of tickets and was the first full production run back at the KMT following the removal of social distancing requirements. This was a key event in the recovery of Theatre and paved the way for a very successful pantomime run of Cinderella later in the year. Due to the success of the 2021 pantomime, there will be an extended run of 'Aladdin' in 2022. Two long-term projects concluded in 2021122, with Redbridge Museum launching a new website about Sylvia Pankhurst, the Woodford resident and political campaigner. The website, funded through the Heritage Fund, is the final part of Wonder Women,, a heritage project delivered in partnership with Woodford Country High School to celebratethe centenary ofthe women'5 Vote. See.. httpsJ/www.sylviapankhurst.com/ The Museum has also finished working with Ilford Football Club to produce a new exhibition abovt the history of the Club at Cricklefields Stadium in time for Ilford Fcs 140th anniversary in the autumn. Windrush Day was commemorated in June 2021 by hosting a talkwith trailblazing Historian Paul Crooks, whose acclaimed novel and appearance on Who Do You Think You Are? inspired a generation to start exploring Black and British ancestry and garhering information to make their family rrees. 29

TO IMPROVE THE SKILLS OF OLIR COMMUNITIES TtrIROUG PARTICIPATION AND LEARNING The Swim Vision programme had a slow Covid recovery in the early months of 2021122. Demand then became increasingly higher. however because of the challenge in recruiting Swimming Instructors following the departure of a large number during Covid lockdowns, numbers learning to swim started low. These have however been increasing month by month, and at end of March 2022, 2,719 adults and children were learning to swim every week. Vision works closely with Swim England and held a Swim England Level I Instructor course at Fullwell Cross Leisure Centre. The Swimming Instructor Assistant scheme was re-started in August 2021, with 12 assistants working across all three pools and six assistants completing their Level I Swim England qualification in February 2022. 42 schools took part in school swimming lessons at Fullwell Cross and Mayfield pools, with 2,535 30- minute lessons taking place and over 5,800 pupils learning to swim. Two National Pool Lifeguard Qualification Courses ran in 2021122 giving local residents the opportunity to improve their skills, leading to some course participants subsequently being employed by Vision a5 Recreation Assistants. Vision offer5 3 diverse range of volunteering opportunities acros5 leisure and culture portfolio, including.. Nature conservation and parks. Theatre Front of House and usher, in partnership with the Friends of RDC and KMT. Valentines Mansion stewarding, guides and event support, in partnership with the Friends of Valentines Mansion. Libraries digital support champions, storyteller5, reading support champions. Museum and archive volunteers. In addition we support offer a range of work experience and personal development schemes. such as the Duke of Edinburgh award. A number of our own young people are supported through Jack Petchey awards. The Death Positive Library projert began in Redbridge and has developed over the last couple of years, with Newcastle and Kirklees Library Services joining the project. It has since grown to become a national programme and adopted by Libraries Connected. Death positive librarie5 aim to remove the barriers to talking about death and dying through a range of innovative activities that appeal to diverse communitie5. 30

Redbridge Library Service coined the phrase 'death positive library, to reflect its contribution to the growing social and philosophical movement that encourage5 people to Speak openly about death and dying. 03 Thanks to funding from Wellcome Trust, The Wolfson Foundation and Carnegie Trust UK, Redbridge, Kirklees and Newcastle library services, and a team of academics from the University of Northumbria including Dr Claire Nally & Dr Stacey Pitsilides, have been developing event5 and artivities that focu5 on engaging residents in conversations around death, dying and planning for end of life. Almost 80% of British adults find it difficult to talk about death, even though we all have to face it. Not talking about death, not getting the right support and advice at the right time and the suffering that people go through when a loved one dies or when they are facing death themselves, puts enormou5 Strain on mental health and wellbeing. The project has reached over 5,000 people this year through a series of digiral events which includes author events, film screenings, death cafes and reading groups. Access to books and the promotion of reading remains at the hearr of Redbridge Libraries, with approximately 1.2million item5 Issued through our libraries in the last year11.4million pr￿Cov1d1. A particular strength is our children's library offer and consequently Redbridge issues more books to children than any other London borough. The work of the public library service is a150 SUPPOrted by the Schools, LibTary Service ISLSI, which is subscription-based self-funding service offered to local schools. The SLS also organise5 the annual Redbridge Children's Book Award. In 2021, this event was held online and as usual attracted a number of bestselling authors to engage with young readers across the Borough and join our event panel. In 2019 Redbridge Drama and Dance College IRDDCI was established. In partnership with RSL (Rockschool Ltd) we deliver the Level 3 Diploma in Creative and Performing Arts. This vocational qualification has been produced to give a breadth of knowledge acros5 the performing art5. The college is run by a full-time course director and is supported by three part-time staff who are Heads of Department and six other professionals who excel in variou5 discipline5 Wlthin the Performing Arts. RDDC is a highly accessible and inclusive course with all students being given the opportunity to achieve their goals, regardle55 of any limitations and restrictions. Extra acce5S to 1.1 learning is offered to any students who need extra support with individual learning plans in place for everyone. RDDC also monitors student progression post-graduation and encourages training and employment opportunities throughout their college studies and beyond. With access to a fully working theatre IKMT) the students are given opportunities to learn all asperts of Stagecraft. In 2020 and 2021 students performed in the pantomime and the RDC Christmas productions and those who didn't perform were part of the tech crew, Follow Spot Operators, Assistant Stage Manager, Lighting Operator, Flyman and Wardrobe Asslstant. In July 2021 despite having two breaks for lockdown and having to study online and from home the 12 alumni from RDDC graduated from the college with l 0096 pass rate and having fully completed every module of their course. All 12 graduates are now either in further education or working within the sector. The students within the first year of college were 3696 BAME and the current students are 32% BAME.

32

Our out of hours membership is at its highest level. The average number of workshop attendees per week is 678. Over 80% of the courses are at full capacity with lengthy waiting lists. One of our aims for the next National Portfolio Organi5ation application is to increase the capacity with a complementary programme of workshops at the Kenneth More Theatre, therefore enabling access to the south of the borough which has been more challenging in the past. The classes we run for under 5's are now available every single day of the week with some classes running up to three sessions a day which are all at full capacity and is a key pillar of our early years work. 03 Redbridge Creates also worked to support those within our wider community who have specific accessibility needs to access theatre and liver performance by developing and nurturing our close links with Age UL Links, Woodbine, Elderberries, St John's, Haven House and ELHAP. This support provided regular events throughout the calendar as well as enabling attendance to our universal programme. Adaptations included providing Brit15h Sign Language interpreters for performances where there are more than five shows in a production, and audio described performances when there are more than 12 shows in a production. From 2021 for every in-house production of five shows or more that is presented through Redbridge Creates, we would offer a socially distanced performance and a relaxed performance. Another key element of our accessibility offer was the offer of livfrstreaming performances to enable those who may not be able to access the venues and enjoy participating from their own homes. We have to offered the various the organisations supporting adult5 Wlth additional need5 opportunities to attend and access drama and dance classes to develop their work and enable performance opportunities, SO that everyone can participate in live performance, whether a5 performer, a creative or audience member. The Library Digitalffech Lab, Lab Central, continued to develop in 2021122. The Lab was established as one of the first library digital makerspaces in the country and has been used a5 a model acros5 the UK and beyond. A particular highlight during the year was our Come & Code project, which is project led partnership project led by Vision RCL, The Quilon Library and Research Centre and the PKV Vanitha Library, both based in Kerala, India, funded by Chartered Institute of Library and Information Professionals- The Library and Information Association. Come and Code is for children aged 8-14 to learn coding skills and for 12 training mentors. they use online tools for communicating, equip the children with the fundamental coding skills to create their own games using Scratch, progressing to building website5 and creating apps. Children are from Redbridge and India. Redbridge Music Service and Redbridge Drama Centre continued with their collaboration to deliver an annual musical production. In March 2022, the team presented Bugsy Malone at the Kenneth More Theatre. The production includes open auditions, which allows young people to audition who may not otherwise participate in performing arts, or who are unknown to us as students/pupils in our classes and workshops. 33

The performance includes a live bandlorchestra, giving our young people an opportunity to play alongside their teachers or another professional musician. It's also a different experience to play with a live action show, as opposed to presenting a musical concert. For the performers on stage, iys also an opportunity to play with a live orchestra as opposed to recorded tracks. 03 The Team will a150 collaborate to review and develop the annual choral festival in March 2023, with an enhanced offering and programme to really showcase the musical talent acr055 Redbridge. Redbridge Music School String Quartet performed at a private function for the Duke of Edinburgh Awards at the Queen's Gallery. The students were a credit to us and met with HRH The Countess of Wessex and DofE Chair Baroness Grey-Thompson after they had performed. Redbridge pupils are freqvently invited to perform at such prestigious events and this is another example of an event where Redbridge students have been invited to perform as a testament to the standard and quality of their learning and attainment. TO FOCUS OUR RESOURCES ON DELIVERING OUR PURPOSE COST EFFECTIVELY The Marketing Team began an income generation recovery programmefocu5ing mainly on Sport & Leisure. This included promotions for membership campaign5, Astr(FTurf Pitch bookings, Racquet Sport5, Fairlop Outdoor Activity Centre, The Spa and School holiday Camps. Extra support was also provided to Kenneth More Theatre to promote the Summer Theatre and Christmas Panto, along with Weddings at Valentines Mansion, which significantly raised the profile and drove up sales and income generation across these areas too. This was further enhanced through the creation of a new centralised Customer Support and Sales Team which focused on venue hire, box office and tickets sales throughout the year and linked to key marketing campaigns. Marketing Support has also been made available to the Hainault Forest Restoration Projert Team, assisting with website updates, promotion of project update video clips via our Social Media channels, and producing posters and banners as required. ¥r*

Working closely with the Project & Innovations Manager, improvements were made to the Vision website which launched in October 2021. Changes were made to the homepage, Centre Pages and Events Calendar, ensuring that all content copied over to the new site was relevant and up to date. Overall, the Vision website had 512,000 users between I st April 2021 and 31 st March 2022. Markering also promoted outdoor events for the Events Team. including the Our Community Festival, Fairlop Fair and Wanstead Festival, plus the Redbridge Outdoor Arts programme. This included the mesmerising exhibition of Museum of the Moon with m05t performances being sold out in less than one week. Parks continued to perform well under the Association of Public Service Excellence framework. In respect of the performance indicator 'Maintenance Cost per 1,000 head of Population,, Vision is ranked 1st out of the 37 contributing authoritie5. In terms of the indicator 'Mea5uring the Percentage of Staff Absence, Vision again is ranked 1st out of 37 authorities, which are both excellent achievements. Nature ConseNation managed the Borough's wildlife database, also funding the service level agreement with Green Space Information for Greater London IGIGLI. The data is made available to council departments via GIS file layers and is used to comment on planning applications, help develop proposals for nature conservation (from strategic local plan level to grass roots projects) and any other enquiries on wildlife in Redbridge. During the year, the Nature Conservation Ranger Team organised the planting of just over 15,000 whips to five 51te5 across the Borough, including 84 standard trees planted across four sites. This season's main project Was Ashton Playing Field5 Wlth 12,000 trees planted along the boundary of the Ml l. We have new field boundary hedgerows at Hainault Forest, restored woodland at Claybury Park and new orchards at Roding Valley Park and Hainault Forest, and also started on the Queen's Green Canopy, planting 35 standard tree5 at Clayhall Park to restore the park's grand tree lined avenues. We have project managed a substantial natural flood management projert at Hainault Forest with funding from the Environment Agency. pond restoration works at Claybury Park and a huge apple harvest from our orchards of close to four tons that has gone to make London Cider! Through partnership, we have organised river restoration works in Wanstead and arranged for 25 bat boxes to be installed across three parks. Over l 00 of our volunteers have also contributed in excess of 4,500 hour5 of their time, helping to help u5 manage our natural green spaces. They have also picked close to 4,000 bags of litter. A new fleet of vehicles has been ordered to comply with Transport for London ULEZ requirements and improved fuel efficiency, and we are also leasing new ride on mowers in 2022123. 35

There was considerable investment in leisure facilities in 2021122 across the majority of Centres. Key investments included Cricklefields Athletic Stadium track repairs and rdining, Fullwell Cross Spa painting and steam room r￿tIlIng, Wanstead Leisure Centre reception full refurbishment, BMX track repairs at Redbridge Cycling Centre, and South Woodford Gym floor structural works. 03 All of this investment helps maintain standards of quality in key customer areas in order to help retain existing users a5 well as attract new customers. In this regard, Fullwell Cross Leisure Centre and Mayfield Leisure Centre both received Very Good assessments through Quest, the recogni5ed leisure industry accreditation benchmark. Ashton Playing Fields football pitch had Significant investment from the Vision Park5 service to prepare for the Woodford Town FC relocation, and in 2021 the new Club House opened. This included investment in new gym and studio facilities resulting in the subsequent doubling of the number of live members. Improvements works were also carried out on the athletics track, including the shot-put area, hammer cages and steeplechase hurdles. At Fairlop Outdoor Activity Centre, London Borough of Redbridge invested over £70,000 in new Fusion and Hartley Boats replacing the wooden seaways. Vision successfully applied to the Sport England Leisure Recovery Fund, receiving £463,000 to help with Ioss of income as a result of Covid. In Libraries, Vision continued the rollout of new Pcs for customers where there are 160 for use across the borough. They include a range of applications, plus printing and scanning. There has also been an upgrade to the customer wifi network across libraries and the full rollout of Hublets Itabletsl for customers to borrow and use in the library. These are available in all buf the smallest branch libraries and have proven to be very popular. They are also an easy way to access our vast collection of digital newspapers and magazines in the library, following the withdrawal of physical stock. Vision's partnership with Redbridge Council's Registrar5 Team continued to develop during the year, with a seamless joined-up customer offer for marriages at the Mansion. Over 400 marriages and ceremonies were performed at the Mansion during the year, with a number of further developments in train for the future, including twilight and outdoor wedding5. 36

37

38

39

40

03 FINANCIAL REVIEW 2021122 For the financial year ended 31 st March 2022, the Management Fee received from the Council continues to be a key, but diminishing, source of funding for Wision. The total Management Fee received in 2021122 was £9,059,831., this was £260,000 less than the previous year, after the delivery of agreed saving5 and an inflation increase based on CPI. Thi5 trend of driving service efficiencies and income generation is set to continue due to associated financial challenges for local authorities. However, given the high level of projected inflation and CPI, the Management Fee is likely to increase significantly in 2022123. The total customer income generated from Direct Services in 2021122 was £8,984,000. This Wa5 a significant increase from the previous year during the height of the Covid pandemic which generated £3,804,000 in 2020121. The increase of £5,180,000 closely mirroring 19120 levels. However, customer income remained below pre£ovid levels and remained a key challenge throughout the year. The loss of income relate5 principally, to the closure of Leisure Centres, the Theatre and Halls for hire, and when allowed to open, having to adhere to restriction on numbers and usage throughout. In these difficult and unprecedented times grants have been the second most important source of income in this financial year. Grant income of £3,618,000 was received in 2021122. This is a decrease of £2,424,000 on the previous year. The reduction relates to the decrease in the Job Retention grant which ended in September 2021. Vision received £568,000 of grants under the Covid Job Retention Scheme, £1,100,000 of closure grants and £191,000 from the Arts Council's Culture Recovery Fund Round 2 and £467,000 was received from the Sport England National Leisure Recovery Fund to underpin service recovery and income losses in leisure facilities. The revised Funding & Management Agreement has in particular de-risked the Vision Local Government Pension Scheme ILGPSI liability as the pension deficit is now matched by an equivalent asset.

STATEMENT OF FINANCIAL ACTIVITIES ISOFA) An overall net surplus of £379,000 has been recorded for 2021122 within the Unrestricted (Generall Funds. This has resulted in an increase in the General Fund Reserve to £1,286,000. 03 An actuarial gain of £4,005,000 was recognised on the defined benefit pension scheme ILGPSI, the gain mainly being driven by artuarial assumptions made for the year. A net increase of £31,000 was recorded on Restricted Funds. The Charity continues to face Several ongoing c05t pressures as well as vncertainties around the pace of recovery from Covid, particvlarly the Leisure Centre5, Halls and Theatre. The Council has indicated that it will fund the National Living Wage costs and the transltion to the London Living Wage in 2023124. The Medium-Term Financial Plan has been managed carefully and because of Covid and the uncertainty of income streams. The Charity has been able to make use of the Governmenys Job Retention Grant, Retail Leisure & Hospitality Grants and Local Restriction Support Granr. The Charity also successfully secured grant funding from the Department for Digital, Culture, Media & Sporfs Culture Recovery Fund ICRFI in Round 2 and the Sport England National Leisure Recovery Fund. Our measured response to Covid has been a balance between reducing expenditure, whilst developing and maintaining as many income stream5 as possible. Services reopened during the year when restrictions allowed and where it wa5 Cost effective to do so. Other services moved their delivery online. The Charity has also made use of the Governmencs VAT deferral scheme to underpin the ca5hflow position throughout 2021122. The Trustees have furrher considered the Charity's budget plans and income projection scenarios and there is confidence that with controlled expenditure and a proactive approach to income generation. a positive outcome will be achieved in 2022123 and beyond. and that the Charity will be able to meet all debts as they fall due. Following this prudent approach throughout the year and the cautious approach into the next 12 months, It is the Trustees, view that the Charity is able to continue as a going concern. PRINCIPAL RISKS Tru5tee5 are responsible for identifying the significant strategic and operational risks to which Vision is exposed and for reviewing the systems in place to mitigate those risks. Following our established Risk Management arrangements, the Risk Register is presented ro Trustees on a six- monthly basis, enabling them to retain focus on the key strategic risks that the Trust faces. There are a number of principal risks currently faced by the Trust. THE REDBRIDGE RELATIONSHIP A new Funding and Management Agreement with Redbridge Council was signed in May 2021. This is a five year agreement until 31st March 2026. The principal risk to the Trust relaring to the Local Government Pension Scheme has been fully mitigated against and a number of other key provisions of the previous agreemenr have been clarified to the satisfaction of the Vision Legal team and Trustees, including means of indexation of the management fee and a formal mechanism to change the services that Vision provides if required by either party. 42

MEDIUM-TERM FINANCIAL PLAN 03 The Charity continues to face a number of ongoing cost pressures as well as uncertainties around the pace of recovery from Covid, particularly in the Leisure Centres, Theatre and Halls. The Council has indicated that it will fund the National Living Wage costs and the transition to the London Living Wage in 2023124. The MediunFTerm Financial Plan has been managed carefully and as a consequence of Covid and the uncertainty of income streams. The Charity has been able to make use ofthe Government's Job Retention Grant, Retail Leisure & Hospitality Grants and Local Restriction Support Grant. The Charity also successfully secured grant funding from the Department for Digital. Culture, Media & Sport's Culture Recovery Fund ICRFI in Round 2 and also the Sport England National Leisure Recovery Fund. Our measured response to Covid has been a balance between reducing expenditure, whilst developing and maintaining as many income streams as possible. Services reopened during the year when restrictions allowed and where it was cost effective to do so. Other services moved their delivery online. The Charity ha5 also made use of the Government's VAT deferral scheme to underpin the cashflow position throughout 2021122. The Trustees have further considered the Chariws budget plans and income projection scenarios and there is confidence that with controlled expenditure and a proactive approach to income generation, a positive outcome will be achieved in 2022123 and beyond, and that the Charity will be able to meet all debts as they fall due. Following this prudent approach throughout the year and the cautious approach into the next 12 months, it is the Trustees, view that the Charity is able to continue as a going concern. •.1 hltj 43

ASSET MANAGEMENT 03 Protecting and maintaining the property and equipment portfolio within the terms of the Council contract remains a challenge. The annual "Maintenance, Repairs Renewals. IMRRI allocation within the Management Fee is protected, but also frozen li.e. it is declining in real terms) and as consequence represents a threat to the fabric of the assets. This remains a challenge with an ageing property and asset portfolio, but equally the potential impart on existing and future income streams 15 a key consideration as maintaining facilities that residents want to use is essential in attracting and retaining customers. BALANCE SHEET The Net Assets held on 31 st March 2022 is £2,858 million. The new five-year contract with the London Borough of Redbridge includes a guarantee for the pension liability which allows Vision to recognise an asset to offset the pension deficit, removing the risk of the pension liability from Vision's books. Therefore, the net asset of Vision for the first time present5 Vision with a clear opportunity to have a p051tive balance sheet. There has been an increase of £222,000 in real terms in Net Current Assets (£11,227,000 less £9,586,000 IPension assetl £1,641,000 from £1,419,0001202012111. The current ratio ha5 increased to 1.60 compared to 1.40 in 2020/21. Underthe terms ofthe new Funding and Management Agreement, the two critical risks to Vision of an increase in the employer contribution rate and an exit payment have been addressed and the Council will reimburse Vision for both. The Local Government Pension Scheme ILGPSI liabil- ity has been offset by an asset due from the Council. 2021122 2020121 RESERVES POLICY The Reserves Policy of £750,000 as agreed by the Board in March 2018 will be reviewed in 2022123 following a return to normal operations after the Covid-19 Pandemic. 2019120 NET CURRENT ASSETS

of financial statements may differ from legislation in other jurisdictions.

On behalf of the Board of Trustees:

45

In our opinion the financial statements:

46

OTHER INFORMATION 04 The otheT information comprises the information included in the annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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 themselves. 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. OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the strategic report and the trustee5' annual report for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the strategic report and the trustees, annual report have been prepared in accordance with applicable legal requirement5. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the trustees, annual report. 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.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustee5' remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. 47

RESPONSILIBITIES OF TRUSTEES 04 As explained more fully in the trustees, responsibilities statement set out on page 45, the trustees (who are also the directors of the charitable company for the purposes of company lawl 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 dve to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable compan￿5 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 obl￿tIveS 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 auditorfs 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 IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISA5 IUKI we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material mi5Statement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, a5 fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable companls ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's reF)Ort to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However. future events or conditions may cause the charitable company to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transaction5 and events in a manner that achieves fair presentation. 48

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 04 EXPLANATION AS TO WHAT EXTENT THE AUDIT WAS CONSIDERED CAPABLE OF DETECTING IRREGULARITIES, INCI 111)ING FRAUD Irregvlarities, including fraud, are instances of noniompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. ro 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. The objectives of our audit in respect of fraud, are,. to identify and assess the risks of material misstatement of the financial statements due to fravd,. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate resFX)nses to those assessed risks,- and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. Our approach was as follow5.. We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial ieporting standards a5 issued by the Financial Reporting Council. We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance. We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions Wlth management and those charged with governance. We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. Based on this understanding, we designed specific appropriate audit procedures to identify instances of noTrcompliance with laws and regulations. Thi5 included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 49

5 October 2022

50

05 FINANCIAL STATEMENTS

Statement of Financial Activities Including Income and Expenditure Account - Year ended 31ST MARCH 2022

				Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted Funds	Restricted Funds	Total 2021/22	Total 2021/22	Restated Total 2020/21	Restated Total 2020/21
				General Funds		Designated Funds
		Note		£000’s		£000’s		£000’s		£000’s		£000’s
	Income and endowments from:
	Charitable Activities
	●Direct Services Income	2		8,984		-		-		8,984			3,804
	●Grants and Contributions			2,137		-		1,481		3,618			6,042
	●Management Fee			7,920		-		1,140		9,060			9,320
	●Other Income	11		109		9,586		-		9,695			108
	Total			19,150		9,586		2,621		31,357			19,274
	Expenditure on:
	Charitable Activities
	●Culture and Libraries			6,223		541		3,941		10,705			9,247
	●Parks and Open Spaces			4,191		233		405		4,829			4,260
	●Sport and Leisure			5,793		78		808		6,679			5,297
	Total	3		16,207		852		5,154		22,213			18,804
	Net Income/(Expenditure) before Transfers			2,943		8,734		(2,533)		9,144			470
	Transfers between funds	17,18		(2,564)		-		2,564		-			-
	Net Income/(Expenditure) after Transfers			379		8,734		31		9,144			470
	Other Recognised Gains/Losses
	Actuarial (Losses)/Gains on Defined Benefit Pension Schemes	16		-		4,005		-		4,005			(3,903)
	Net Movement in Funds			379		12,739		31		13,149			(3,433)
	Reconciliation of Funds
	Total Funds Brought Forward	19		907		(12,739)		1,541		(10,291)			(6,858)
	Total Funds c/fwd			1,286		-		1,572		2,858		(10,291)

51

- Balance sheet (AS AT 31ST MARCH 2022)

Balance sheet- (AS AT31ST MARCH2022)	Balance sheet- (AS AT31ST MARCH2022)
		31st March 2022		Restated 31st March 2021
	Note	£000’s	£000’s	£000’s	£000’s
Fixed Assets
Tangible Fixed Assets	12		1,217		1,029
Current Assets
Pension	16	9,586		-
Stock		25		-
Debtors/ Prepayments	14	2,065		1,654
Cash at Bank and in Hand		2,303		3,363
Total Current Assets		13,979		5,017
Liabilities
Creditors: Amounts Falling Due Within One Year	15	2,752		3,598
Net Current Assets			11,227		1,419
Total Assets Less Current Liabilities			12,444		2,448
Provision for Liabilities: Defined Benefit Pension Scheme	16		(9,586)		(12,739)
			2,858		(10,291)
The Funds of the Charity
General Fund	17		1,286		907
Designated Funds	17		-		-
Designated Pension Reserve	17				(12,739)
Restricted Funds	18		1,572		1,541
			2,858		(10,291)

The Financial Statements were approved by the Board of Trustees and authorised for issue on the 15[th] September 2022 and signed on their behalf by:

Martin Solder Trustee

Brian Spinks Trustee

52

- Cash Flow Statement (YEAR END 31ST MARCH 2022)

		2021/22	2020/21
		£000’s	£000’s
Cash Flow from Operating Activities		(447)	1,764
Cash Flow from Investing Activities
●Interest Received			1
●Capital expenditure		(613)	(530)
Increase (Decrease) in Cash in Year		(1,060)	1,235
Note i - Reconciliation of Cash Flow from Operating Activities
Net IncomingResources after Transfers		9,143	362
Defined Benefit Pension Charge		1,600	1,149
Defined Benefit Pension Contributions Paid		(748)	(602)
Interest Received		-	(1)
Decrease (Increase) in Stock		(25)	30
Decrease (Increase) in Debtors and Prepayments		(9,996)	(343)
Increase (Decrease) in Creditors		(846)	781
Depreciation		425	388
Net Cash Flow from Operating Activities		(447)	1,764
	31st March 2021	Movement in Year	31st March 2022
	£000’s	£000’s	£000’s
Note ii - Analysis of Cash and Cash Equivalents
Cash at Bank and In Hand	83	(14)	69
Short-Term Deposits	3,280	(1,046)	2,234
Total	3,363	(1,060)	2,303
		2021/22 £000’s	2020/21 £000’s
Note iii - Reconciliation of Cash Flow to Movement in Net Funds
Increase (Decrease) in Cash in the Year		(1,060)	1,235
Movement in Net Funds in the Year		(1,060)	1,235
OpeningNet Funds as at 1st April		3,363	2,128
Closing Net Funds as at 31st March		2,303	3,363

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NOTES TO THE FINANCIAL STATEMENTS

52

Notes to Financial Statements

(YEAR ENDED 31ST MARCH 2022)

Note 1 - Accounting Policies

Basis of Accounting

These Financial Statements have been prepared under the historical cost convention and in accordance with the Charities Statement of Recommended Practice (SORP) (FRS102) (effective from 1st January 2015), which is the applicable Financial Reporting Standard in the UK and Republic of Ireland and the Companies Act 2006. Vision is a Public Benefit Entity as defined by FRS102.

Going Concern

The trustees have assessed whether the use of the going concern basis is appropriate and have made this assessment in respect of a period of at least one year from the approval of these financial statements. Although, with the latest economic indicators, 2023 looks challenging, operations are returning to precovid levels. The contract with the Council has been extended to 2026 and now includes a guarantee to cover pension liabilities resulting in the recognition of a pension asset offsetting the pension liability. This has significantly reduced the risk exposure for Vision and this, together with forecasts tested for a worst case scenario, indicates that the Charity will be able to settle its debts as they fall due for at least 12 months following approval of these financial statements. On this basis the trustees continue to adopt the going concern basis in the preparation of the financial statements.

Estimates and Judgements

In applying the Accounting Policies, judgements, estimates and other assumptions are required to be made regarding the carrying amount of assets and liabilities, where precise information is not available. Significant examples include the estimates and assumptions that underlie the Pensions data used within the Statements, whereby the professional services of a qualified actuary are commissioned.

The carrying values of Fixed Assets also rely on a number of assumptions, including the Useful Economic Life (UEL) of individual assets, with judgements based on historical experience. Actual results may differ from estimates.

Outstanding debt is reviewed annually for its collectability based on experience and specific intelligence, with adjustments made accordingly to a Bad Debt Provision, to determine the carrying value of Debtors on the Balance Sheet.

Estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the accounting period in which the estimate is revised where the revision only affects that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Prior Year Adjustments

Prior year comparatives have been restated in respect of a prior year adjustment. Further details are provided in note 17.

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Note 1 - Accounting Policies continued

Income from Charitable Activities

Income is received from three major sources:

Direct Services Income

This is income generated by the facilities managed by Vision in the form of fees and charges and are recognised as services delivered. All direct services income is credited to the Statement of Financial Activities on an accrual basis. Income for annual memberships is accounted for over the membership year, with amounts relating to future accounting periods being deferred and held on the Balance Sheet as Deferred Income.

Management Fee

An annual Management Fee is received from the London Borough of Redbridge comprising two components – “Restricted Funds” and “Unrestricted Funds”. Restricted Funds mainly relate to the Maintenance, Repairs and Renewals Fund (MRR), which is used for spending on assets used by the Trust, but remaining in the ownership of the London Borough of Redbridge.

Grants and Other Contributions

Grants and other contributions are recognised in full in the Statement of Financial Activities in the year in which they are received, or in the case of grants with associated eligibility criteria, in the year in which those criteria are satisfied. Where entitlement to grants receivable is dependant upon conditions within the charity’s control, the income is recognised when there is sufficient evidence that conditions will be met. Where there is uncertainty as to whether the charity can meet such conditions, recognition of the incoming resource is deferred.

Expenditure on Charitable Activities

Expenditure is accounted for in the Statement of Financial Activities on an accruals basis, being recognised in the year in which it is incurred.

Expenditure is incurred on the costs associated with the organisation’s charitable activities. Charitable activities expenditure can be further sub-divided as follows:

Direct Services Expenditure

Expenses incurred on the defined charitable purpose of the Trust, including staff costs attributable to the activity and management of the facilities.

Grant Funded Activities

Expenditure related to activities where the associated income has been received in the form of a grant.

Other Expenditure

Relates to support costs such as general administration, management and irrecoverable Value Added Tax (VAT).

Allocation and Apportionment of Support Costs

Support costs are allocated to operational services on a basis most consistent with the use of resources.

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Note 1 - Accounting Policies continued

Financial Instruments

Vision only has financial assets and financial liabilities which are classified as “Basic Financial Instruments” under Section 11 of FRS102. The financial instruments – specifically Bank Deposits, Cash, Creditors and Debtors – are initially recognised at their transaction value and are subsequently measured at amortised cost, where applicable.

Tangible Fixed Assets

The land and buildings at the centres managed by Vision are effectively leased as part of the contract with the Council, but the Council retains the ultimate risks and rewards of these assets. Accordingly, the access Vision has for these assets is to enable it to operate the activities and deliver the public services it is contracted to provide. Vision does not own these assets and therefore they are not recognised in the balance sheet. Where Vision incurs expenditure of a capital nature in relation to these buildings abo ve the “De Minimis” level they are capitalised and depreciated to the end of the contract as set out below.

Vision Fixed Assets

Tangible Fixed Assets are held for use in the supply of services and are expected to be used for more than one financial year. Expenditure on the acquisition, creation or enhancement of such assets is treated as capital provided that the future economic benefits or service potential will flow to Vision. Expenditure that maintains but does not add to an assets potential (i.e. repairs and maintenance) is charged as an expense as it is incurred.

Expenditure which meets the definition of capital, but falls below a pre-set minimum level in value (the “De Minimis” level), is charged as an expense in the year it is incurred. The De Minimis level for Vision is £7000. Tangible Fixed Assets are stated at cost (including Irrecoverable VAT, net of Depreciation and any provision for Impairment). All assets accounted for by Vision are directly owned by the Trust.

 Depreciation

Depreciation is provided on all Tangible Fixed Assets based on the ‘straight line’ method over their Estimated Useful Life (EUL), with no charge made in the year of acquisition, but with a full charge made in the year of disposal. Annual Depreciation charges are as follows.

Asset Type	Annual Depreciation Charge
Building works	pro rata to the end of the current contract*
Equipment and Motor Vehicles	20 to 33.3% per annum
Furniture	10% per annum
Refurbishments & Fittings	20% per annum

*. Annual Depreciation charges ensure such Assets are fully depreciated upon the expiry of the management agreement.

Tangible Fixed Assets, including fully depreciated assets, will continue to be held on the Balance Sheet until such time that they are abandoned, scrapped or sold, at which point they will be written out, with any balance being charged as a revenue expense.

56

Note 1 - Accounting Policies continued

 Impairment

Impairment reviews are carried out where there is an indication that the recoverable amount of a Tangible Fixed Asset may be lower than its Balance Sheet value, and (if confirmed) are written down to the recoverable amount.

Leased Assets

Leases are classified as Finance leases unless they meet the criteria of an Operating lease. The characteristic of a Finance lease is that the lease arrangements transfer substantially all of the risks and rewards of ownership to the lessee.

Assets held on Finance leases are included within Fixed Assets on the Balance Sheet with a corresponding Creditor established for future lease payments. The asset is depreciated (with a corresponding charge to revenue) over the term of the lease. In addition, interest costs are charged directly to revenue. Operating lease payments are charged to the cost of service on a straight line basis over the term of the lease.

Stocks

Stock is included on the Balance Sheet at the lower of cost or estimated selling price, less costs to complete and sell.

Pension Costs

Employee members of the Local Government Pension Scheme (LGPS) that transferred from the London Borough of Redbridge to the Trust (under “TUPE” regulations) are entitled to remain within the scheme (or join if they have not already done so). The LGPS is a defined benefit scheme which is funded by both employee and employer contributions. An annual update (supplemented by a full triennial valuation) is provided by the scheme’s actuary, which sets out Vision’s share of the estimated assets and liabilities. In accordance with Financial Reporting Standard 102 (FRS102), annual movements are reflected in the Income and Expenditure Account with net balances reflected in the Balance Sheet.

A new Funding and Manageemnt Agreement with the Council was entered into in the year which includes a “pass through” approach in relation to the Local Government Pension Scheme. “Pass through” reflects the generally accepted market position in relation to LGPS and the associated risk for operators.

The position agreed between Vision Redbridge and the Council is summarised as follows:

• Any increases to the fixed Employer Contribution Rate will be met by Vision Redbridge but reimbursed by the Council.

• Any Exit Contribution will be met by Vision Redbridge but reimbursed by the Council .

• Vision Redbridge will remain responsible for any increases to the fixed Employer Contribution Rate or Exit Contribution if, and to the extent that, such increases relate directly to the commercial decisions of Vision Redbridge save where:

• The Council agrees to meet these costs, at its discretion

• o The costs arise in relation to an agreed Change in Service

• The costs arose in relation to implementation of a” Best Value Change”

An asset is therefore recognised for the liability that is reimburseable by the Council

57

Note 1 - Accounting Policies continued

In addition, Vision also has employees that are members of three other pension schemes as follows:

• Teachers’ Pension Scheme (TPS)

• A number of employees are members of the TPS, which is administered by the Department of Education. The scheme provides members with specified benefits upon their retirement and Vision contributes towards the associated costs alongside employee members. The scheme is technically a defined benefit scheme. However, the scheme is unfunded and it is not possible to determine – with sufficient accuracy for accounting purposes – Vision’s share of the underlying financial position and performance. Consequently the TPS is accounted for on the same basis as a defined contribution scheme.

• Friends Provident (“Stakeholder Pension”)

• A small number of employees, who were not eligible for LGPS membership, were enrolled on a defined contribution scheme administered by Friends Provident. The cost of the associated retirement benefits is met through ‘matched’ employee and employer contributions. Following a change in legislation on workplace pensions which has seen the introduction of automatic enrolment, membership of the scheme has declined as has the option to transfer to a scheme administered by Friends Life.

• Friends Life (“Group Pension Plan”) Subject to an opt out clause (following automatic enrolment) and other qualifying criteria, existing employees not already in a pension scheme and new starters are systematically being enrolled into a defined contribution scheme administered by Friends Life. The cost of the associated retirement benefits is met through a combination of employee and employer contributions.

Employer contributions to the three defined contribution schemes described above are reflected in the Income and Expenditure Account only.

Fund Accounting

The funds of the Trust fall into two main types:

• Unrestricted Funds are available to use to further the purposes of the Trust. Unrestricted Funds may be set aside to fund particular activities at the discretion of the Trust.

• Restricted Funds are held by the Trust for specific purposes, determined by the donor. The specified purposes are consistent with Vision’s overall objectives.

Note 2 - Direct Services Income

Note 2 - Direct Services Income
	Unrestricted Funds	Restricted Funds	Total 2021/22	Total 2020/21
	£000’s	£000’s	£000’s	£000’s
Culture and Libraries	3,091	-	3,091	1,820
Parks and Open Spaces	1,431	-	1,431	1,065
Sport and Leisure	4,462	-	4,462	919
Total	8,984	-	8,984	3,804

58

Note 3 – Resources Expended

	Direct Expenditure	Support Costs	Deferred Benefit Pension	Total 2021/22	Total 2020/21
	£000’s	£000’s	£000’s	£000’s	£000’s
Unrestricted Expenditure
Culture and Libraries	5,620	603	541	6,727	6,216
Parks and Open Spaces	3,940	251	233	4,424	3,937
Sport and Leisure	5,579	214	78	5,871	4,936
Sub Total	15,139	1,068	852	17,022	15,089
Restricted Expenditure
Culture and Libraries	4,021	-	-	4,021	3,031
Parks and Open Spaces	405	-	-	405	323
Sport and Leisure	808	-	-	808	361
Management & Support	(80)	-	-	(80)	-
Sub Total	5,154	-	-	5,154	3,715
Total Resources Expended	20,293	1,068	852	22,213	18,804

Note 4 - Support Costs

	Culture and Libraries	Parks and Open Spaces	Sport and Leisure	Total 2021/22	Total 2020/21
	£000’s	£000’s	£000’s	£000’s	£000’s
ICT	395	54	32	481	400
HR and Payroll	39	26	34	99	98
Insurance	105	68	88	261	266
Cash Collection	7	4	5	16	13
Tree Surgery	-	59	-	59	59
MHR Payroll	22	15	19	56	58
Governance Cost	35	25	36	96	91
Management and Support	-	-	-	-	-
Total	603	251	214	1,068	985

59

- Note 5 Statement of Financial Activities Including Income and Expenditure - Account (YEAR ENDED 31[ST] MARCH 2021)

			Unrestricted Funds	Unrestricted Funds	Restricted Funds	Restated Total 2020/21	Restated Total 2019/20
			Restated General Funds	Designated Funds
	Note		£000’s	£000’s	£000’s	000’s	£000’s
Income and endowments from:
Charitable Activities
●Direct Services Income	2		3,804	-	-	3,804	9,413
●Grants and Contributions			4,687	-	1,355	6,042	845
●Management Fee			8,180	-	1,140	9,320	9,789
Other income			108	-	-	108	118
Total			16,779	-	2,495	19,274	20,165
Expenditure on:
Charitable Activities
●Culture and Libraries			5,835	381	3,031	9,247	10,178
●Parks and Open Spaces			3,810	127	323	4,260	4,249
●Sport and Leisure			4,897	39	361	5,297	6,668
Total	3		14,542	547	3,715	18,804	21,095
Net Income/(Expenditure) before Transfers			2,237	(547)	(1,220)	470	(930)
Transfers between funds	18,19		(1,951)	-	1,951	-	-
Net Income/(Expenditure) after Transfers			286	(547)	731	470	(930)
Other Recognised Gains/Losses
Actuarial (Losses)/Gains on Defined Benefit Pension Schemes	17		-	(3,903)	-	(3,903)	1,629
Net Movement in Funds			286	(4,450)	731	(3,433)	699
Reconciliation of Funds
Total Funds Brought Forward			621	(8,289)	810	(6,858)	(7,557)
Total Funds c/fwd			907	(12,739)	1,541	(10,291)	(6,858)

60

Note 5 - Statement of Financial Activities Including Income and Expenditure continued

(YEAR ENDED 31ST MARCH 2021)

Direct Services Income

Direct Services Income
	Unrestricted Funds	Restricted Funds	Restated Total 2020/21	Restated Total 2019/20
	£000’s	£000’s	£000’s	£000’s
Culture and Libraries	1,820	-	1,820	3,062
Parks and Open Spaces	1,065	-	1,065	1,064
Sport and Leisure	919	-	919	5,287
Total	3,804	-	3,804	9,413

Resources Expended

Resources Expended
	Direct Expenditure	Support Costs	Deferred Benefit Pension	Restated Total 2020/21	Restated Total 2019/20
	£000’s	£000’s	£000’s	£000’s	£000’s
Unrestricted Expenditure
Culture and Libraries	5,296	539	381	6,216	6,962
Parks and Open Spaces	3,572	239	127	3,937	3,826
Sport and Leisure	4,690	207	39	4,936	6,017
Sub Total	13,558	985	547	15,089	16,805
Restricted Expenditure
Culture and Libraries	3,031	-	-	3,031	3,216
Parks and Open Spaces	323	-	-	323	423
Sport and Leisure	361	-	-	361	651
Sub Total	3,715	-	-	3,715	4,290
Total Resources Expended	17,272	985	547	18,804	21,095

61

- Note 5 Statement of Financial Activities Including Income and Expenditure continued

Support Costs

Support Costs
	Culture and Libraries	Parks and Open Spaces	Sport and Leisure	Restated Total 2020/21	Restated Total 2019/20
	£000’s	£000’s	£000’s	£000’s	£000’s
ICT	328	45	27	400	400
HR and Payroll	39	26	33	98	135
Building Services	-	-	-	-	49
Insurance	107	70	89	266	260
Cash Collection	5	-	8	13	22
Tree Surgery	-	59	-	59	59
MHR Payroll	23	15	20	58	58
Governance Cost	36	24	31	91	84
Management and Support	-	-	-	-	27
Total	538	239	208	985	1,094

Note 6 - Grants Paid

Organisations	2021/22 £000’s	2020/21 £000’s
Community Centres	35	16
Arts	15	16
Total	50	32

Note 7 - Auditor Remuneration

	2021/22	2020/21
	£000’s	£000’s
Statutory Audit	30	26
Going concern	3	2
Vat Advice	1	-
Arts Council Grant Audit	3	-
Audit fee in respect of prior year audit	8	-
Total	45	28

62

Note 8 – Trustees

No Trustees (or any person connected with them) received remuneration in 21/22 (20/21 nil). One Trustee was reimbursed for travel expenses £33.58 in 21/22 (20/21 nil)

Note 9 - Employees

The average number of employees, including Full-Time Equivalents (FTEs), during the year was:

Employee Numbers	2021/22	2021/22 FTE	2020/21	2020/21 FTE
Culture and Libraries	242	142.35	274	151.44
Parks and Open Spaces	65	57.37	69	56.76
Sport and Leisure	287	94.02	300	89.01
Management and Support	15	12.40	13	11.80
	609	306.14	656	309.01

Employee Costs			2021/22	2020/21	2020/21
			£000’s		£000’s
Wages and Salaries			9,296		9 ,234
National Insurance Contributions			713		701
LGPS Pension			1,600		1,149
Other Pension			370		382
Agency and Private Instructors			177		78
Redundancy			32		121
Total			12,188		11,665

The number of employees earning a salary of £60,000 or more (including benefits, but excluding pension contributions was as follows:

pension contributions was as follows:
	2021/22	2020/21
£60,000 to £69,999	1	2
£70,000 to £79,999	2	3
£80,000 to £89,999	-	-
£90,000 to £99,999	-	-
£100,000 to £109,999	-	1
£110,000 to £119,999	1	-
Total	4	5

63

Note 9 – Employees continued

Total pension costs paid to these employees amounted to £77,191 (2020/21: £90,015)

Remuneration of Key Management Personnel

Total employee benefits paid to the key management personnel (Chief Executive, Head of Culture & Libraries, Head of Parks & Open Spaces) totalled £451,407 in 2021/22 (£442,413 in 2020/21).

Note 10 - Taxation

Vision is a Registered Charity and not liable for Corporation Tax on profits derived from its charitable activities under Paragraph 1 of Schedule 6 of the Finance Act 2010.

Note 11 - Related Party Transactions

Trustees and employees are entitled to use the facilities managed by Vision at a discounted price, compared to members of the general public.

A limited number of employees are entitled to use certain leisure facilities managed by Vision free of charge provided that usage does not interfere with the activities and demands of fee paying members and the general public. Such arrangements are often of mutual benefit to both parties (e.g. free access to the swimming pool to maintain the fitness of lifeguards).

During the year, £300 grant was paid to and Venue hire of £1,260 was received from Frenford Clubs, a charity of which Martin Solder, the Chair of Trustees, is also a Trustee.

There are no other Related Party Transactions to report for 2021/22.

64

Note 12 - Tangible Fixed Assets

	Building Works	Plant & **Equip. **	Gym Equip.	Furniture	Refurbs. & **Fittings **	IT Equip.	Total
	£000’s	£000’s	£000’s	£000’s	£000’s	£000’s	£000’s
Cost
At 1st April 2021	465	1	-	-	1,645	545	2.656
Additions in Year	-	-	187	-	366	60	613
Disposals in Year	-	-	-	-	-	-	-
At 31st March 2022	465	1	187	-	2,011	605	3,269
Accumulated Depreciation
At 1st April 2021	465	-	-	-	931	231	1,627
Charge for the Year	-	1	37	-	225	162	425
Disposals in Year	-	-	-	-	-	-	-
At 31st March 2022	465	1	37	-	1,156	393	2.052
Net Book Value
At 31st March 2021	-	1	-	-	714	314	1,029
At 31st March 2022	-	-	150	-	855	212	1,217

65

Note 13 - Investments

Vision Redbridge Business Services Limited (a trading company) was incorporated on 20th May 2011. Vision Redbridge Culture and Leisure Limited is the sole shareholder, holding 100 Ordinary £1 shares. The Director Trustees of the Trust are the Directors of the trading company.

As at the 31st March 2022 the company was dormant, as defined by Company Law.

Note 14 - Debtors

	31st March 2022	Restated 31st March 2021
	£000’s	£000’s
Trade Debtors	1,036	462
Other Debtors	2,065	383
Provision of Bad and Doubtful Debt	(23)	(57)
Prepayments and Accruals	617	866
Total	2,065	1,654

Note 15 - Creditors: Amounts Due Within One Year

			31st March 2022	31st March 2021
			£000’s	£000’s
Trade Creditors			91	270
VAT and Social security			568	1,130
Accruals			1,796	2,022
Deferred income			297	176
Total			2,752	3,598
Deferred Income Analysis	2021/22	2020/21
	£000’s	£000’s
Balance April 1st	176	157
Charged in Year	176	157
Deferred in Year	297	176
Balance March 31st	297	176

66

Note 16 - Pension Costs

Defined Benefit Scheme

As part of the terms and conditions of employment under “TUPE” regulations, employees transferred from the London Borough of Redbridge (LBR) are entitled to remain within the Local Government Pension Scheme (LGPS). The Redbridge scheme is a funded final salary defined benefit scheme, which is administered by the Council in accordance with the LGPS Regulations.

It is possible to identify Vision’s share of the underlying assets and liabilities of the Redbridge Fund for the purposes of FRS102.

The assets of the LGPS are invested and managed independently of the Trust and employer contributions are determined by a qualified actuary on the basis of triennial valuations using the projected unit method. The most recent actuarial valuation reflected the position as at March 2020.

Active LGPS Members and Contribution Levels

	2021/22	2020/21
Employer’s Contributions (£000’s)	748	602
Employer’s Contribution (%)	23.1	20.1
Number of Members	238	238

67

Note 16 - Pension Costs continued

Reconciliation of Defined Benefit Obligation

Reconciliation of Defined Benefit Obligation
	2021/22	2020/21
	£000’s	£000’s
Opening Defined Benefit Obligation	42,857	31,935
Current Service Cost	1,339	954
Losses /(Gains) on Curtailments	-	-
Effect of Business Combinations and Disposals	-	-
Interest Cost	865	740
Total Defined Benefit Recognised in SOFA	2,204	1,694
Contribution by Members	162	173
Estimated Benefits Paid	(695)	(611)
Re-measurements
Changes in Actuarial Assumptions	(3,346)	9,978
Other Experience	74	(312)
Closing Defined Benefit Obligation	41,256	42,857

Reconciliation of Plan Assets

		2021/22	2020/21
		£000’s	£000’s
	Opening Fair Value of Employer Assets	30,118	23,646
	Interest Income	604	545
	Effect of Business Combinations and Disposals	-	-
	Total Defined Benefit Recognised in SOFA	604	545
	Contribution by Members	162	173
	Contributions by Employer	748	602
	Benefits Paid	(695)	(611)
	Re-Measurements
	Return on Assets	733	5,763
	Closing Fair Value of Employer Assets	31,670	30,118

68

Note 16 - Pension Costs continued

Reconciliation of Total Cost of Defined Benefit Liability

		2021/22	2020/21
		£000’s	£000’s
	Current Service Cost	(1,228)	(954)
	(Losses)/Gains on Curtailments	-	-
	Effect of Business Combinations and Disposals	-	-
	Net Interest	(261)	(195)
	Charge to Net (Income)/Expenditure	(1,489)	(1,149)
	Re-Measurements
	Changes In Actuarial Assumptions	3,346	(9,978)
	Other Experience	(74)	312
	Return on Assets	733	5,763
	Total Re-Measurements	4,005	(3,903)
	Employers Contribution	748	602
	Surplus or (Deficit) in Scheme	2,405	(5,052)
	Opening Balance – Surplus/(Deficit)	(12,739)	(8,289)
	Closing Balance – Surplus/(Deficit)	(9,586)	(12,739)

As mentioned in the accounting policy, an asset is recognised for the above liability, that is reimbursable by the council.

Fair Value of Plan Assets – Values

	31st March 2022	31st March 2021	31st March 2020	31st March 2019	31st March 2018
	£000’s	£000’s	£000’s	£000’s	£000’s
Equities	22,803 (72%)	21,986 (73%)	16,079 (8%)	18,532(70%)	16,950 (70%)
Bonds	2,850 (9%)	4,518 (15%)	5,202 (22%)	5,559 (21%)	5,083 (21%)
Property	6,017 (19%)	3,313 (11%)	2,128 (9%)	2,383 (9%)	2,180 (8%)
Cash	- (0%)	301 (1%)	237 (1%)	-	-
Total Fair Value of Plan Assets	31,670 (100%)	30,118 (100%)	23,646 (100%)	26,474 (100%)	24,213 (100%)

69

Note 16 - Pension Costs continued

Actuarial Assumptions

**Actuarial Assumptions **
	31st March 2022	31st March 2021
	(%pa)	(%pa)
Pension Increases	3.20	2.85
Salary Increases	3.20	2.85
Discount Rate	2.70	2.00

Defined Contribution Schemes

Vision contributes to three defined contribution schemes:

 Teachers’ Pension Scheme (TPS)

The TPS which, although technically a defined benefit scheme, is accounted for as a defined contribution scheme. All TPS members are employed within the Music and Drama services. As at 31st March 2022 there were 55 employees in the TPS.

 Friends Provident (“Stakeholder Pension”)

As at 31st March 2022, there was one employee with a Stakeholder Pension.

 Friends Life (“Group Pension Plan”)

The continued application of “auto-enrolment” during the financial year has seen a growing number of employees taking out a Group Pension Plan through Aviva. As at 31[st] March 2022, 328 employees were Group Pension Plan holders. ( 31[st] March 2021 there were 284 employees)

The Employer Contributions paid into Defined Contribution Schemes during the year is summarised in the table below.

	2021/22	2020/21
	£000’s	£000’s
Teachers’ Pension Scheme (TPS)	247	265
Friends Provident	2	2
Aviva Group Pension	122	116

70

Note 17 - Unrestricted Funds

Unrestricted Funds held by Vision are available to use for the general charitable purposes of the Trust. However, part of these may be “Designated” for particular future purposes. The movement in Unrestricted Funds during 2021/22 is set out as follows.

		Movement in Unrestricted Funds 2021/22	Movement in Unrestricted Funds 2021/22	Movement in Unrestricted Funds 2021/22	Movement in Unrestricted Funds 2021/22	Movement in Unrestricted Funds 2021/22
		Restated Balance 1st April 2021	Incoming Resources	Resources Expended	Transfers Between Funds	Balance 31st March 2022
		£000’s	£000’s	£000’s	£000’s	£000’s
	General Fund	907	19,149	(16,206)	(2,564)	1,286
	Sub Total	907	19,149	(16,206)	(2,564)	1,286
	Designated Funds
	ICT Transformation	-	-	-	-	-
	Pension Fund Reserve	(12,739)	4,005	(852)	9,586	-
	Sub Total	(12,739)	4,005	(852)	9,586	-
	Total	(11,832)	23,154	(17,058)	7,022	1,286
		Movement in Unrestricted Funds 2020/21 Balance 1st April 2020 Incoming Resources Resources Expended Transfers Between Funds Restated Balance 31st March 2021
		£000’s	£000’s	£000’s	£000’s	£000’s
	General Fund	621	16,779	(14,542)	(1,951)	907
	Sub Total	621	16,779	(14,542)	(1,951)	907
	Designated Funds
	ICT Transformation	-	-	-	-	-
	Pension Fund Reserve	(8,289)	(3,903)	(547)	-	(12,739)
	Sub Total	(8,289)	(3,903)	(547)	-	(12,739)
	Total	(7,668)	12,876	(15,089)	(1,951)	(11,832)

71

Note 17 - Unrestricted Funds continued

Prior Year Adjustment

Note 17 - Unrestricted	Funds continued	Funds continued	Funds continued	Funds continued	Funds continued
	Prior Year Adjustment
	Unrestricted Funds
	General Funds	Designated Funds		Total 2021/22	Restated Total 2020/21
	£000’s	£000’s		£000’s	£000’s
Total funds b/fwd as previouslyreported	581	(12,739)		(12,158)	(7,886)
Prior YearAdjustments	326	-		326	218
Total funds b/fwd as restated	907	(12,739)		(11,832)	(7,668)

A prior year adjustment has been identified relating to VAT that was reclaimable on power costs .

72

Note 18 - Restricted Funds

Restricted Funds held by the Trust are only available to use for the purposes specified by the donor. Vision holds Restricted Funds in three categories:

 Management Fee

Funded by LBR through the main Management Fee, specifically:

Maintenance, Repairs & Renewals (MRR)

• To be used solely for the maintenance, repair and renewal of LBR assets entrusted to Vision as part of the management contract for Culture and Leisure services in the Borough.

Exercise on Referral

To be used in accordance with a Service Level Agreement with the Redbridge Clinical Commissioning Group for the supply of relevant Sport & Health related services.

Redbridge Arts Grants

To be used to support community and voluntary sector arts activities.

Adult Activator

To support a post, specifically created to lead and co-ordinate an adult health programme on Redbridge housing estates.

Music Bursary Fund

To be used in support of music school pupils to advance their musical education beyond Redbridge Music School.

Cycle Quiet Ways

To extend the opening hours at Valentines Park – initially for two years – to allow access to the Cycle Quiet Way, linking Redbridge to other London boroughs. The grant is to fund additional staffing costs.

0-19 Health

To help fund and deliver an obesity strategy and action plan, and to develop physical activity provision for antenatal women.

 Service Grants

External grants, ring-fenced to support the Music and Drama services.

 Other Grants

Primarily external grants and contributions received outside the main Management Fee for Culture and Leisure related specified projects and initiatives in the fields of Arts, Events, Libraries, Museums, Parks, Sport and Health.

73

Note 18 - Restricted Funds continued

The movement in Restricted Funds during 2021/22 is set out in the table below.

		Movement in Restricted Funds	Movement in Restricted Funds	Movement in Restricted Funds	Movement in Restricted Funds	Movement in Restricted Funds
		Balance 1st April 2021	Incoming Resources	Resources Expended	Transfers Between Funds	Balance 31st March 2022
		£000’s	£000’s	£000’s	£000’s	£000’s
	Management Fee
	MRR Fund	170	1,107	(1,279)	2	-
	Asset Plan (Restricted Reserve)	483	-	-	(2)	481
	Exercise on Referral	4	199	(194)	-	9
	Redbridge Arts Grants	75	33	(14)	-	94
	Adult Activator	9	-	(2)	-	7
	Music Bursary Fund	62	-	-	-	62
	Cycle Quiet Ways	46	-	-	-	46
	0-19 Health	19	-	-	-	19
	Alice White Legacy	-	-	-	-	-
	Claybury Park Dowry	57	-	(7)	-	50
		925	1,339	(1,496)	-	768
	Service Grants
	Drama ACE National Portfolio	-	65	(1,333)	1,268	-
	Music Education Hub	-	488	(1,784)	1,296	-
		-	553	(3,117)	2,564	-
	Other (Grants)
	Arts	7	20	-	-	27
	ACE Culture Recovery Fund	185	191	(301)	-	75
	Corporate	-	-	-	-	-
	Libraries	192	267	(88)	-	371
	Museum	-	-	-	-	-
	Music Services	35	12	-	-	47
	Parks	33	101	(60)	-	74
	Sport and Health	164	138	(92)	-	210
		616	729	(541)	-	804
	Total	1,541	2,621	(5,154)	2,564	1,572

74

Note 18 - Restricted Funds continued

		Movement in Restricted Funds	Movement in Restricted Funds	Movement in Restricted Funds	Movement in Restricted Funds	Movement in Restricted Funds
		Balance 1st April 2020	Incoming Resources	Resources Expended	Transfers Between Funds	Balance 31st March 2021
		£000’s	£000’s	£000’s	£000’s	£000’s
	Management Fee
	MRR Fund	20	1,107	(607)	(350)	170
	Asset Plan (Restricted Reserve)	133	-	-	350	483
	Exercise on Referral	4	80	(80)	-	4
	Redbridge Arts Grants	52	33	(10)	-	75
	Adult Activator	14	4	(9)	-	9
	Music Bursary Fund	62	0	0	-	62
	Cycle Quiet Ways	46	0	0	-	46
	0-19 Health	14	32	(27)	-	19
	Alice White Legacy	-	15	(15)	-	-
	Claybury Park Dowry	84	0	(27)	-	57
		429	1,271	(1,440)	-	925
	Service Grants
	Drama ACE National Portfolio	-	66	(614)	548	-
	Music Education Hub	-	493	(1,896)	1,403	-
		-	559	(2,510)	1,951	-
	Other (Grants)
	Arts	7	-	-	-	7
	ACE	-	548	(363)	-	185
	Corporate	4	-	(4)	-	-
	Libraries	181	66	(55)	-	192
	Museum	-	-	-	-	-
	Music Services	35	-	-	-	35
	Parks	44	4	(15)	-	33
	Sport and Health	110	55	(1)	-	164
		381	673	(438)	-	616
	Total	810	2,503	(3,723)	1,951	1,541

75

Note 19 - Analysis of Net Assets Between Funds

	Unrestricted Funds	Unrestricted Funds	Restricted Funds	Total
	General	Designated
	£000’s	£000’s	£000’s	£000’s
Fund Balances at 31st March 2022 **are represented by: **
Tangible Assets ( Net book values)	-	-	1,217	1,217
Current Assets / (Liabilities)	1,286	9,586	355	11,227
Provisions	-	(9,586)	-	(9,586)
Total	1,286	-	1,572	2,858
Fund Balances at 31st March 2021 **were represented by: **				Restated
Tangible Assets ( Net book values)	-	-	1,029	1,029
Current Assets / (Liabilities)	907	-	512	1,419
Provisions	-	(12,739)	-	(12,739)
Total	907	(12,739)	1,541	(10,291)

Note 20 - Lease Commitments

Total payments of £120,837.90 relating to operating leases were made in 2020/21 (£64,406.62 2020/21). There are no Finance Leases. Outstanding commitments under non-cancellable Operating Leases at the end of the financial year were as follows:

		31st March 2022	31st March 2021
		£000’s	£000’s
Expiry Date:
Within One Year		84	60
Between One and Five Years		105	96
Total		189	156

All leases relate to plant, equipment and vehicles. There are no leases relating to land and buildings.

76

Museum of the Moon by Luke Jeriam A touring exhibition held at Valentine5 Mansion and Gar ns in Septemb 2021