2021-03-31-accounts

Reference and Administrative Information
Trustees' Annual Report
(Incorporating the Strategic Report)
Report ofthe Independent Auditors		14
Statement ofFinancial Activities		18
(Incorporating the Income and Expenditure	Account)
Balance Sheet		19
Statement ofCash Flows		20
Notes to the Financial Statements		22

TRUSTEES:		Mr M Winlow
		Mr J Sladden
		Mr R Burt
SECRETARY:		Mr P Fox
REGISTERED	OFFICE:	Trinity Sports &Leisure
		Chilton Street
		Bridgwater
		Somerset
		TA6 3JA
REGISTERED	COMPANY
NUMBER:		06727055	(England	and	Wales)
REGISTERED	CHARITY
NUMBER:		1130010
AUDITORS:		A C Mole
		Chartered	Accountants		and Statutory Auditors
		Stafford House
		Blackbrook Park Avenue
		Taunton
		Somerset
		TA1 2PX
BANKERS:		NatWest
		26 —27 Fore Street
		Taunton
		Somerset
		TAI IJQ
SOLICITORS:		The Legal	Director
		107Cheapside
		London
		EC2V 6DN

				Unrestricted	Restricted	Total	Total
				Funds	Funds	Funds	Funds
						2021	2020
			Note
INCOME FROM
Donations and	legacies			319,221		319,221	169,755
Charitable activities				2,021,331		2,021,331	2,578,549
Other trading activities				13,017		13,017	86,706
Investments				144		144	548
Other income				1,149,084		1,149,084
Total Income				3,502,797		3,502,797	2,835,558
EXPENDITURE	ON
Raising funds			6	16,727		16,727	50,479
Charitable activities			7	3,700,969	13,082	3,714,051	2,676,627
Total Expenditure				3,717,696	13,082	3,730,778	2,727,106
Net (expenditure)/income				(214,899)	(13,082)	(227,981)	108,452
Transfer between	funds		21	15,296	(15,296)
Net (expenditure)/income		after
transfers				(199,603)	(28,378)	(227,981)	108,452
Other recognised	(losses)/gains
Remeasurement ofdefined pension schemes		benefit	22	~336,000		~336000	374,00tl
Net movement in	funds			(535,603)	(28,378)	(563,981)	482,452
Total funds brought	forward			1,308,699	175,080	1,483,779	1,001,327
Total funds carried forward			21	773,096	146,702	919,798	1,483,779

				2021		2020
FIXED ASSETS			Note
Tangible assets			ll		1,503,620		1,963,997
Investments			12		I		1
					1,503,621		1,963,998
CURRENT ASSETS
Stocks			13	20,784		29,694
Debtors			14	563,829		385,513
Cash at bank				354,525		410,152
				939,138		825,359
CREDITORS
Amounts falling due within		one year	15	(689,548)		(640,192)
NET ASSETS LESSCURRENT
LIABILITIES					249,590		185,167
CREDITORS
Amounts falling due atter		more than one year	16		(159,413)		(327,386)
PENSION LIABILITY			22		(674,000)		(338,000)
					919,798		1,483,779
NET ASSETS
CAPITAL AND RESERVES
Unrestricted income funds			20		749,825		1,285,428
Designated funds			20		23,271		23,271
Total unrestricted	funds				773,096		1,308,699
Restricted funds			20		146,702		175,080
Total Reserves					919,798		1,483,779

					Restated
				2021	2020
			Note
Cash flows from operating	activities
Net cash generated by/(used	in) operating	activities	I	128,742	(28,191)
Cash flows from investing	activities
Purchase oftangible fixed assets				(21,035)	(77,309)
Sale oftangible fixed assets				20,897	2,840
Interest received				144	548
Net cash (used in) investing	activities				73,921
Cash flows from financing	activities
Loan repayments				(107,204)	(47,288)
Hire purchase repayments				(127,171)	(90,824)
Cash inflows from new borrowing				50,000
Net cash (used in) financing	activities			184,375	138,112
(Decrease) in cash and cash equivalents				(55,627)	(240,224)
Cash and cash equivalents at	beginning ofyear		2	410,152	650,376
Cash and cash equivalents	at end ofyear		2	354,525	410,152

				Restated
			2021	2020
Net (expenditure)/income			(227,981)	108,452
Net interest expense			13,979	13,580
Depreciation charges			332,910	180,648
Loss/(Profit) on disposal		oflixed assets	127,605	(2,840)
Decrease/(Increase)	in stocks		8,910	(2,635)
(Increase)/Decrease	in debtors		(178,316)	38,856
Increase/(Decrease)	in creditors		51,635	(364,252)
Cash generated by/(used		in) operations	128,742	~28,297

			2021	2020
Cash	at bank and in hand		10,006	10,584
Short	term investments	—deposit account	344,519	399,568
			354,525	410,152

annual ra	tes in order to write offthe	cost less estimat	e residual	valu	e ofeach ass	et over its estimated	useful lif
Leasehold	improvements				straight-line	over the remaining	lease term.
Sports equipment:		Cardio equipment		-	straight-line	over 10years.
		Resistance	equipment	-	straight-line	over 10 years.
All other	fixtures and equipment:				straight-line	over 10 years.
Computer	Soltware				straight line	over 10years.

				2021	2020
Depreciation				332,910	180,648
Auditors	remuneration	for audit work		13,800	6,602
Auditors	remuneration	for accountancy	services	5,000	3,042
Auditors	remuneration	for taxation and	other services	15,775	13,126
(Profit)/Loss on disposal offixed assets				127,605	(2,840)
Interest	on bank loans			1,787	3,153
Interest	on hire purchase			12,336	10,975
Rentals	under operating	leases —plant and machinery		16,042	15,383

				2021			2020
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
Grants	&donations	319,221		319,221	169,755		169,755
		319,221		319,221	169,755		169,755

						o	c	rcI	o M IQI I a" VI"	o M IQI I a" VI"	o M IQI I a" VI"	ra
									40 CI	co		ra CO	rt
						O	0 0	CII	Vt r-I O
									VO	C
									M	CO 'D				CC Ct
						I C CI	Ct 8	Ill	CO vt	VI O		O O IQ	rO IQ rO	CD M	O 'D Q
				0 X	w0	OC C E E	0 0 CL	CCI	00 'D CO	M 00 'D		CO 0 VI N	0 ra	Cl I
															Q
						rct
							C.	IIC		co		ro r-	O 0 o	CO Ot
							Ct							Cl M	CC
							E
							ICI		rn		Q			VI
						0			O	Irt	Q			CKt
						C				CO0		rl		I I CI
									CC	OI	VI			CO
			F
			V
						4l	4I 4l		Vl	O OO		Ct		C O	O
	N	C4				E 4t00 ~IC			00 00 CC			CO rorc			I I
	0 E	CC C 0L Cl	xV
	CC
	QI		0
	~I
	CJ
	C	C							0	0		It.I
0 O	4l C Ct 0	C 0 L	z						00 0 ll Q	C0 VI CI		C 0 0	It	CC0F.	CC 00

					2021	2020
			Unrestricted	Restricted	Total	Total
						K
Coronavirus		Job
Retention	Scheme		1,149,084		1,149,084
			1,149,084		1,149,084

OTHER TRADING ACT	IVITIES
	Income from Vending	and Bar	Raising Funds - Cost ofSales
	Sales
	2021	2020	2021	2020
Devon contract	214	3,958	5,896	4,608
B SFcontract	9,486	70,844	6,741	36,807
Dorset contract	2,923	6,920	1,900	6,309
Activities	394	4,984	2,190	2,755
Total Sites	]3,017	86,706	16,727	50,479

||||||rc
O|CC|ICC|'Ct|CI'
IPO|I
r|'D
O|I)I0|||O
0'|0|Icl|CCt
'Ct
I I|O
up
'lC
Vt
cr|I
I
QQ
PI
I'|v
rl
CI'
0|0
ICI|||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||cct|'D
Vl
cn
I|'D
I
CQ|O
CQ
CQ
O
O|QQ
'D
QQ
IP
O|IA
Ot|||Wt
Orc|7C|QC|0
'Ct|V1
PC
I|0
O
IA
'D|Irl
O
rl
Vt|CO'0
C|0!
CP
Ill||| |||||4
0
Cl|w
w|QQ
Z|IIC|Ct
V1|n
I I
I|V1
O
Vl|Irl
rl
O
ra|CQ
'D|Oc
Ot
lp
IA||CI
CI0
0
Cl|W
w
0||QQ
O
O|QQ
0
I I|||CC|||| |||||Cl0|0
I|w
Ql
0|crt|O
0!|QQ|||QQ
rc|QQ|||||||O|cp
'D
cct"|||CI|| ||||||4|)I
0|cct|CQ
D|CQO
I|CQ|O|Oc
0|QC
IA
rc||w
~00
L0|||0ra
I'I||r
I
'lf
O|O
Irt
0||'CI|~I
0
0C!. p
0 0
0 00
pIt
0 CQ|| |||||||||||||||||||||||||p|E| ||||||0
'e
'0|w
o
0|QC|||||0|||E
I0|0V||O
O
ra|CQ
ch|||'D
IA
Ot|IA
QQ
Ot|CCD
II- 0
0 0|| ||w|CC|M
)
P
ttt|0,|0
E
CP|w
w
n
Cl
M||cp
ca
O
CQ
V
t
CQ|r
0
CQ
Vt|QQ
'D
I I0OO|0
Ch
rnO
IP|IA
IA|QQ
CQ
IA
QQ||00
Cl||Wt|IA
O
v1
I
I|Pt
cC|0
O
O|0Vt||0!|0It
0
ww
CQ
0
0
0
U
It|00v
Np
"
It
E0
0
I!0| ||0
E|O
Cl|ZV|||||||||||||||||||||0|p
CC0| ||Cl
rA|g
~
Crt|Z0|||||||||||0|||||||||||w
D| |||CO|||||||||||||||||||||||| |CI
O|0
CI
w
0Z|CI
0
0
0
5
w|F4Z
L
IC!|||||2
0
0
I!
4|00
M
m|0o
w0
0|0|rc
0|rc
0|Ctl0
M||||0cl
000
0
Ct
4|0
0
M
CO|ctI!
0
0|0')
0|CV
7C
0|O
0|It)
00.0.|?
.!
0|

TAFF COSTS
	2021	2020
Salaries and Wages	1,881,244	1,391,743
Social security costs	97,675	71,599
Pension costs	64,280	47,628
	2,043,199	1,510,970

		2021	2020
Devon Contract		71	92
BSFContract		81	109
Dorset Contract		67	93
Activities		41	112
Total Direct Staff		260	406
Head Office Admin	Support	14	15
		274	421

FIXEDASSETS
	Leasehold
	Property	Fixtures and	Computer
	Improvements	Equipment	Software	Total
Cost
At 1 April 2020	1,999,459	2,434,206	107,633	4,541,298
Additions		18,988	2,047	21,035
Disposals	(442,893)	(488,099)		(930,992)
At 31 March 2021	1,556,566	1 965 095	109680	3 631 341
Depreciation
At I April 2020	828,817	1,735,698	12,786	2,577,301
Charge for period	181,694	140,307	10,909	332,910
Eliminated on disposal	(312,145)	(470,345)		(782,490)
At 31 March 2021	698,366	i 405 660	23,695	2,127,721
Net Book Value
At 31March 2021	858,200	559,435	85,985	1,503,620
At 31 March 2020	1,170,642	698,508	94,847	1,963,997

13	STOCKS
				2021	2020
	Trading stock			20,784	29,694
				20,784	29,694
14	DEBTORS
				2021	2020
				f.
	Trade debtors			162,473	36,422
	Other debtors			33,888	33,933
	Prepayments			57,022	116,281
	Accrued income			303,580	192,011
	Amount owed	by subsidiary	undertaking	6,866	6,866
				563,829	385,513
15	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				2021	2020
	Trade creditors			142,833	100,054
	Social security	and other taxes		130,534	55,059
	Finance leases			71,508	137,355
	Other creditors			50,743	49,603
	Bank loans			7,641	67,984
	Accruals			147,861	201,051
	Deferred income			138,428	29,086
				689,548	640,192

						2021	2020
	Finance leases					77,310	126,298
	Deferred income					35,547	159,458
	Bank loans					46,556	41,630
						159,413	327,386
	An analysis ofthe maturity		ofloans is		given below:
						2021	2020
	Bank loans
	Amounts falling due	within	one year			7,641	67,984
	Amounts falling due	between		one and two years		10,000	41,630
	Amounts falling due	between		two and five years		36,556
17	SECURED DEBTS
	The following secured	debts	are included		within creditors:
						2021	2020
	Creditors: amounts	falling		due within	one year:
	Finance leases					71,508	137,355
	Bank loans					7,641	67,984
	Creditors: amounts	falling		due after	one year:
	Finance leases					77,310	126,298
	Bank loans					46,556	41,630
						203,015	373,267

					2021	2020
Net obligations		repayable:
Within one year					77,467	137,355
Between	one and tive years				71,351	126,298
					148,818	263,653
					Other operating	leases
					2021	2020
Non-Cancellable		operating		leases
Minimum	payments		under the leases are as
follows:-
Leases expiring:
Within one year					9,188	13,715
Between	one and five years				6,854	8,719
					16,042	22,434

			Tangible	Net
			fixed	current	Long term	Pension
			assets	assets	Liabilities	Liability	Total
Restricted Income Funds
GAP funding				1,302			1,302
Torridge			8,567				8,567
South Molton			136,833				136,833
Total Restricted		Funds	145,400	1,302			146,702
Unrestricted Income Funds
Trinity Sinking	Fund - designated			23,271			23,271
Unrestricted Income Funds			1,358,221	225,017	(159,413)		1,423,825
Pension Reserve						(674,000)	(674,000)
Total Unrestricted		Funds	1,358,221	248,288	(159,413)	(674,000)	773,096
Total Funds			1,503,621	249,590	(159,413)	(674,000)	919,798

	Balance as					Balance as at
	at I April				Actuarial	31 March
	2020	Income	Expenditure	Transfers	Loss	2021
						K
GAP funding	1,302					1,302
South Molton	157,200		(5,071)	(15,296)		136,833
Torridge	16,578		(8,011)			8,567
Total Restricted
Funds	175,080		(13,082)	(15,296)		146,702
Trinity Sinking
Fund - designated	23,271					23,271
Unrestricted
Income Funds	1,623,428	3,502,797	(3,717,696)	15,296		1,423,825
Pension Reserve	(338,000)				(336,000)	(674,000)
Total Unrestricted
Funds	1,308,699	3,502,797	(3,717,696)	15,296	(336,000)	773,096
Total Funds	1,483,779	3,502,797	(3,730,778)		(336,000)	919,798

				2021	2020
				Total	Total
Defined	benefit scheme:
Current	service cost			6,000	5,000
Total charge		in operating
profit				6,000	5,000
Detined	benefit scheme:
Net interest		expense		7,000	7,000
Total charge				13,000	12,000
				Defined Benefit	Pension Plans
				2021	2020
				Total	Total
Present	value	offunded	obligations	(1,385,000)	(916,000)
Fair value of		plan assets		711,000	578,000
Pension	fund	liabilities		(674,000)	(338,000)

		2021	2020
Discount rate		2. I'/o	2.4'jo
Future salary increases		2.85'o	I.85'o
Future pension	increases	2.85(	1.85'o
Consumer Price	index price increase	2.8'lo	1.8'io
Retail Price Index price increase		3.15'o	2.65o

he avera	ge life expectanc	y in years for a member from the age	of65 are:
			2021	2020
Retiring	today:	Males	(years) 23.1	(years) 23.3
		Females	24.6	24.7
Retiring	in 20 years	Males	24.4	24.7
		Females	26	26.2

		Assets	Liabilities	Total
		8000	8000	8000
At I April 2020 Benefits paid		578 (7)	(916) 7	(338)
Employer contributions		2
Contributions by scheme participants Current service cost		I	(I) (6)	(6)
Interest income/(expense)		14	(21)	(7)
Remeasurement ains/ losses
Actuarial gains			(448)	(448)
Return on plan assets excluding	interest income	123		123
At 31 March 2021		711	1,385	674

The	fair value	of	the major categories ofscheme assets are as f	ollows:	ollows:
				Defined Benefit Pension
					Plans-Total
				2021	2020
				f000	f000
	Equities			389	288
	Liability	Driven Investment		81	66
	Other Bonds			158	146
	Property			67	66
	Cash			16	l2
				711	578
The	return on	plan assets was:
				2021	2020
				%000	8000
	Interest income Return on plan assets less interest income			14 123	6 ~f16
	Total return		on plan assets	137	(110)

			Unrestricted	Restricted	Total
			Funds	Funds	Funds
					2020
INCOME	FROM		169,755		169,755
Donations	and legacies		2,578,549		2,578,549
Charitable	activities		86,706		86,706
Other trading income			548		548
Investments
Total			2,835,558		2,835,558
EXPENDITURE ON
Raising funds			50,479		50,479
Charitable	activities		2,673,177	3,450	2,676,627
Total			2,723,656	3,450	2,727,106
Net income/(expenditure)			111,902	(3,450)	108,452
Transfers			13,945	(13,945)
Remeasurement ofnet defined benefit liability			374,000		374,000
Net Movement in funds			499,847	(17,395)	482,452
Total funds	brought	forward	808,852	192,475	1,001,327
Total funds	carried	forward	1,308,699	175,080	1,483,779

			Net	Long
		Tangible	Current	Term	Pension
		Fixed Assets	Assets	Liabilities	Liability	Total
Restricted Income Funds
GAP Funding			1,302			1,302
Torridge		16,578				16,578
South Molton		142,512	14,688			157,200
Total Restricted	Funds	159,090	15,990			175,080
Unrestricted Income
Funds
Trinity Sinking Fund—
Designated			23,271			23,271
Unrestricted Income Funds		1,804,908	145,906	(327,386)		1,623,428
Pension Reserve					(338,000)	(338 QQP)
Total Unrestricted	Funds	1,804,908	169,177	(327,386)	(338000)	1,308,699
Total Funds		1,963,998	185,167	(327386)	(338000)	1,483,779

	Balance as					Balance as at
	at I April			Actuarial		31 March
	2019	income	Expenditure	Gain	Transfers	2020
GAP funding	1,302					1,302
South Molton	171,145				(13,494)	157,200
Terri dge	20,028		(3,450)			16,578
Total Restricted
Funds	192,475		(3,450)		(13,945)	175,080
Trinity Sinking
Fund - designated	23,271					23,271
Unrestricted
Income Funds	1,497,581	2,835,558	(2,723,656)		13,945	1,623,428
Pension Reserve	(712,000)			374,000		(338,000)
Total
Unrestricted
Funds	808,852	2,835,558	(2,723,656)	374,000	13,945	1,308,699
Total Funds	1,001,327	2,835,558	(2,727,106)	374,000		1,483,779