|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| |00
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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| ||O||ccr|O
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am|||||o|||||||o|o||||| |||||||||||||||||||||ra|I| ## |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|