|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
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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| ## ## ##