2023-03-31-accounts

Reference and Administrative Information
Trustees' Annual Report
(Incorporating the Strategic Report)
Report ofthe Independent Auditors
Statement ofFinancial Activities		18
(Incorporating the Income and Expenditure	Account)
Balance Sheet		19
Statement ofCash Flows		20
Notes to the Financial Statements		21

TRUSTEES:		Mr M Winlow
		Mr J Sladden (resigned			25 July 2022)
		Mr R Burt (resigned 6April 2023)
		RCardwell (appointed			6April 2023)
		P Harvey (appointed		6	April 2023)
		BHayward (appointed			6 April 2023)
		JKelly (appointed	6 April 2023)
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
		TA1 1JQ

For the Year Ended	31Mar	ch 2023
				Unrestricted	Restricted	Total	Total
				Funds	Funds	Funds	Funds
						2023	2022
			Note
INCOME FROM
Donations and legacies				18,512	17,952	36,464	225,286
Charitable activities				3,116,936		3,116,936	4,081,772
Other trading activities				141,352		141,352	76,190
Investments				2,831		2,831
Total Income				3,279,631	17,952	3,297,583	4,383412
EXPENDITURE	ON
Raising funds				92,018		92,018	55,062
Charitable activities				3,822,894	81,688	3,904,582	4,132,790
- Reorganisation	costs			186,477		186,477
			6	4,009,371	81,688	4,091,059	4,132,790
Total Expenditure				4,101,389	81,688	4,183,077	4,187,852
Net (expenditure)/income				(821,758)	(63,736)	(885,494)	195,460
Transfer between	funds		20	67,952	~67 952
Net (expenditure)/income		after
transfers				(753,806)	(131,688)	(885,494)	195,460
Other recognised	galas
Remeasurement ofdefined		benefit
pension schemes			21	549,000		549000	146000
Net movement in funds				(204,806)	(131,688)	(336,494)	341,460
Total funds brought	forward			1128268	132990	1261258	919798
Total funds carried	forward		20	923,462	1,302	924,764	1,261,258

								2023	2022
FIXEDASSETS							Note	5
Tangible assets							10	719,095	1,252,456
Investments							11	I	I
								719,096	1,252,457
CURRENT ASSETS
Stocks							12	7,289	15,679
Debtors							13	94,723	459,304
Cash at bank								430 550	759,505
								532,562	1,234,488
CREDITORS
Amounts falling		due		within	one year		14 ~319623		650907
NET CURRENT ASSETSLESSCURRENT
LIABILITIES								212,939	583,581
CREDITORS
Amounts falling		due		atter more than one		year	15	(28,271)	(46,780)
PENSION ASSET/(LIABILITY)							21	21,000	(528,000)
								924,764	I/61/58
NET ASSETS
CAPITAL AND		RESERVES
Unrestricted income				funds			19	899,456	1,104,997
Designated funds							19	24 006	23 231
Total unrestricted			funds					923,462	1,128,268
Restricted funds							19	1,302	132,990
Total Reserves								924,764	1,261,258
The financial		statements			were approved	by the	Board of Directors on I.ANtkK 2023 and		were signed on
their behalf	by:
P I-Iarvey								M Winlow
TRUSTEE								TRUSTEE

					2023	2022
				Note
Cash flows from operating	activities
Net cash (used)/generated by operating		activities			~248,077	542,299
Cash flows from investing	activities
Purchase oftangible fixed assets					(69,569)	(71,077)
Sale oftangible fixed assets					68,553	24,569
Interest received					2 831	64
Net cash generated by/(used	in) investing		activities		1,815	46,444
Cash flows from financing	activities
Loan repayments Hire purchase repayments					(10,648) ~72,045	(8,985) ~81 1190
Net cash (used in) financing	activities				82693	90875
(Decrease)/Increase in cash	and cash	equivalents			(328,955)	404,980
Cash and cash equivalents at	beginning	of	year	2	759,505	354,525
Cash and cash equivalents	at end of	year		2	430 550	759505

		2023	2022
		f	f
Net (expenditure)/income		(885,494)	195,460
Net interest expense		4,984	9,455
Depreciation charges		241,585	314,819
Loss/(Profit) on disposal	offixed assets	292,792	(17,147)
Decrease in stocks		8,390	5,105
Decrease in debtors		364,581	104,525
(Decrease) in creditors		(274,915)	(69,918)
Cash (used ln)/generated	hy operations	~240 07	542 299

			2023	2022
			f
Cash	at bank and in hand		(3,448)	14,947
Short	term investments	—deposit account	433,998	744,558
			430 550	759505

annual rat	es in order to write offthe	cost less estimate 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 10years.
All other	fixtures and equipment			straight-line	over 10years.
Computer	Sofhvare			straight line	over 10years.

					2023	2022
Depreciation					241,585	314,819
Auditors	remuneration	for audit work			12,700	12,000
Auditors	remuneration	for accountancy		services	3,700	3,000
Auditors	remuneration	for taxation and		other services	4,950	10,286
Loss/(Profit) on disposal			offixed assets		292,792	(17,147)
Interest	on bank loans				1,062	1,646
Interest	on hire purchase				6,753	7,873
Rentals	under operating		leases —plant and machinery		3,457	6,195

				2023			2022
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Toh 1
				I:
Grants	&donations	18,512	17,952	36,464	225,286		225,286
		18,512	17,952	36,464	225,286		225,286

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OTHER TRADING ACT	IVITIES
	Income from Vending	and Bar	Raising Funds - Cost ofSales
	Sales
	2023	2 202	2023	2022
				8
Devon contract		2,901		652
BSFcontract	115,599	63,258	70,841	36,235
Dorset contract	17,449	10,596	14,901	11,453
Activities	8,304	(565)	6,276	6,722
Total Sites	141,352	76,190	92,018	55,062

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TAFF COS	TS
		2023	2022
Salaries and	wages	1,858,253	1,928,200
Social security costs		130,374	110,131
Pension costs		60,283	78,441
Redundancy	costs	96,660
		2,145,570	2,116,772

		2023	2022
Devon Contract		0	45
BSFContract		66	61
Dorset Contract		66	58
Activities		21	26
Total Direct Staff		153	190
Head Office Admin	Support	8	13
		161	203

FIXEDASSETS
	Leasehold
	Property	Fixtures and	Computer
	Improvements	Equipment	Software	Total
		f		f
Cost
At 1 April 2022	1,436,787	1,966,453	152,407	3,555,647
Additions	34,108	35,461		69,569
Disposals	(548,767)	(739,974)	(25,614)	(1,314,355)
At 31 March 2023		1,261,940	126,793	2,310,861
Depreciation
At 1 April 2022	757,273	1,508,448	37,470	2,303,191
Charge for year	122,790	103,305	15,490	241,585
Eliminated on disposal	(255,664)	(685,957)	(11,389)	(953,010)
At 31 March 2023	624,399	925,796	41,571	1,591,766
Net Book Value
At 31 March 2023	297,729	336,144	85,222	719,095
At 31 March 2022	679,514	458,005	114,937	1,252,456

12	STOCKS
			2023	2022
			f
	Trading stock		7,289	15,679
			7,289	15,679
13	DEBTORS
			2023	2022
				f
	Trade debtors		28,832	116,750
	Other debtors		29,280	33,888
	Prepayments		35,409	61,443
	Accrued income			239,075
	Amount owed by subsidiary	undertaking	1,202	8,148
			94,723	459804
14	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			2023	2022
			g	8
	Trade creditors		82,845	185,497
	Social security and other taxes		38,400	55,090
	Finance leases		9,509	65,292
	Other creditors		6,794	45,642
	Bank loans		9,000	9,586
	Accruals		170,089	236,249
	Deferred income		2,986	53,551
			319,623	6509907

					2023	2022
	Finance leases					9,509
	Bank loans				28,271	37,271
					289271	46,780
	An analysis ofthe maturity ofloans is given below:
					2023 f	2022 8
	Bank loans
	Amounts falling due	within one year			9000	9886
	Amounts falling due	between	one and two years		20 906	9829
	Amounts falling due	between	two and five years		I7,365	27,442
16	SECURED DEBTS
	The following secured	debts are included		within creditors:
					2023	2022
						8
	Creditors: amounts	falling	due within	one year:
	Finance leases				9,509	65,292
	Bank loans				9,000	9,586
	Creditors: amounts	falling	due after	one year:
	Finance leases					9,509
	Bank loans				28,271	37,271
					46,780	121,658

					2023	2022
Net obligations		repayable:
Within one year					9,509	65,293
Between	one and five years					9,509
					9,509	74,802
					Other operating	leases
					2023	2022
Non-Cancellable		operating		leases
Minimum	payments		under the leases are as
follows:-
Leases expiring;
Within one year					2,738	2,738
Between	one and five years				719	3,457
					3,457	6,195

		Tangible	Net
		fixed	current	Long term	Pension
		assets	assets	Liabilities	Liability	Total
Restricted Income	Funds
GAP funding			1,302			1,302
Total Restricted Funds			1,302			1@02
Unrestricted Income Funds
Trinity sinking fund	- designated		24,006			24,006
Unrestricted income	funds	719,096	187,631	(28,271)		878,456
Pension reserve					21,000	21,000
Total Unrestricted	Funds	719,096	211,637	(28,271)	21,000	923,462
Total Funds		719,096	212,939	(28471)	21,000	924,764

0 MOVEMEN	T IN FUNDS
	Balance as					Balance as at
	at 1April			Actuarial		31March
	2022	income	Expenditure	Gain	Transfers	2023
	f
GAP funding	1,302					1,302
South Molton	131,132		(81,132)		(50,000)
Torridge	556		(556)
ATP lights		17,952			(17,952)
Total Restricted
Funds	132,990	17,952	(81,688)		(67,952)	1,302
Trinity sinking
fund - designated	23,271				735	24,006
Unrestricted
income funds	1,632,997	3,279,631	(4,101,389)		67,217	878,456
Pension reserve	(528,000)			549,000		21,000
Total Unrestricted
Funds	1,128,268	3,279,631	(4,101)389)	549,000	67,952	923,462
Total Funds	1,261458	3,297,583	(4,183,077)	549,000		924,764

The iunounts recognised in the statement offinancial ac	tivities are as follows:
	2023	2022
	Total	Total
Defined benefit scheme:
Current service cost	10,000	10,000
Total charge in operating
profit	10,000	10,000
Defined benefit scheme;
Net interest expense	13,000	13,000
Admin expenses	1,000	1,000
Total charge	24,000	24,000
	Deilned Beneflt	Pension Plans
	2023	2022
	Total	Total
Present value offunded obligations	(695,000)	(1,307,000)
Fair value ofplan assets	716,000	779,000
Pension fund assets/(liabilities)	21,000	(528,000)

	2023	2022
Discount rate	4.8'/o	2.6'/o
Future salary increases	2.9'/o	3.1'/o
Future pension increases	2.9'lo	3.1'/o
Consumer Price Index price increase	2.9'lo	3.1'/o

			2023	2022
			(years)	(years)
Retiring	today:	Males	22.2	23.1
		Females	24.2	24.7
Retiring	in 20 years	Males	23.5	24.4
		Females	25.6	26.1

		Assets	Liabilities	Total
		f000	f000	f000
At 1 April 2022		779	(1,307)	(528)
Benefits paid		(7)	7
Employer contributions		3
Contributions by scheme participants			(1)
Current service cost			(10)	(10)
Interest income/(expense)		20	(33)	(13)
Admin Expenses		(1)		(1)
Remeasurement sins/ losses
Actuarial gains		(24)	649	625
Return on plan assets excluding	interest income	(55)		(55)
At 31March 2023		716	695	21

			Defined Benefit Pension	Defined Benefit Pension
				Plans- Total
			2023	2022
			f000	g000
	Equities		446	414
	Liability driven investment		4	97
	Other bonds		47	39
	Diversified	Growth Fund	48	51
	Infrastructure		54	53
	Multi asset credit		47	36
	Property		58	73
	Cash		12	16
			716	779
The	return on plan assets was:
			2023	2022
			g000	f000
	Interest income		20	15
	Return on plan assets less interest income			57
	Total return	on plan assets	(35)	72

		Unrestricted	Restricted	Total
		Funds	Funds	Funds
				2022
INCOME FROM
Donations and	legacies	225,286		225,286
Charitable activities		3,990,452	91,320	4,081,772
Other trading	income	76,190		76,190
Investments		64		64
Total		4,291,992	91,320	4,383,312
EXPENDITURE ON
Raising funds		55,062		55,062
Charitable activities		4,027,758	105,032	4,132,790
Total		4,082,820	105,032	4,187,852
Net income		209,172	(13,712)	195,460
Remeasurement	ofdefined benefit pension schemes	146,000		146,000
Net movement	in funds	355,172	(13,712)	341,460
Total funds brought forward		773,096	146,702	919,798
Total funds carried forward		1,128,268	132,990	1,261,258

				Net	Long
			Tangible	Current	Term	Pension
			Fixed Assets	Assets	Liabilities	Liability	Total
Restricted Income		Funds
GAP Funding				1,302			1,302
Torridge			556				556
South Molton			131,132				131,132
Total Restricted Funds			131,688	1,302			132,990
Unrestricted	Income
Funds
Trinity sinking	fund—
designated				23,271			23,271
Unrestricted income		funds	1,120,769	559,008	(46,780)		1,632,997
Pension reserve						(528,000)	(528,000)
Total Unrestricted		Funds	1,120,769	582,279	(46,780)	(528,000)	1,128,268
Total Funds			1,252,457	583,581	(46,780)	(528,000)	1,261,258

	Balance as					Balance as at
	at I April			Actuarial		31March
	2021	Income	Expenditure	Gain	Transfers	2022
				f		f
GAP funding	1,302					1,302
South Molton	136,833		(5,701)			131,132
Torridge	8,567		(8,011)			556
Leisure recovery
fund		91,320	(91,320)
Total Restricted
Funds	146,702	91,320	(105,032)			132,990
Trinity sinking
fund - designated	23,271					23,271
Unrestricted
income funds	1,423,825	4,291,992	(4,082,820)			1,632,997
Pension reserve	(674,000)				146,000	(528,000)
Total
Unrestricted
Funds	773,096	4,291,992	(4,082,820)		146,000	1,128,268
Total Funds	919,798	4,383,312	(4,187,852)		146,000	1,261,258