1610 Limlted
Report of the Trustees, Strategic Report and
Audited Financial Statements
For the Year Ended 31 March 2024
Regi$lered Charity Number 1130010
Registered Company Number 06727055 (England and Wales)

1610 Limited
Contents of the Financial Statements
For the Year Ended 31 March 2024
Reference and Administrative Information
Trustees, Annual Report
(Incorporating the Strategic Report)
Report of the Independent Audllors
13
Statement of Financial Activities
(Incorporating the Income and Expenditure Account)
Balance Sheet
17
18
Statement of Cash Flows
19
Notes to the Financial Statements
20

I610 Limited
Reference and Administrative Information
For the Year Ended 31 March 2024
TRUSTEES:
Mr M Winlow (resigned 31 July 2024)
Mr R Burt (resigned 6 April 2023)
R Cardwell (appointed 6 April 2023)
P Harvey (appointed 6 April 2023)
B Hayward (appointed 6 April 2023, resigned 31 July 2024)
J Kelly (appointed 6 April 2023)
A Rustad (appointed l August 2024)
SECRETARY:
MrPFox
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 LLP
Chartered Accountants and Statutory Auditors
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TAI 2PX
BANKERS:
Natwest
26- 27 Fore Street
Taunton
Somerset
TAI IJQ

1610 Limited
Trustees, Annual Report (Incorporating the Strategic Report)
For the Year Ended 31 March 2024
The Trustees, who are also Directors for the purposes of Company law, present their annual report and their
strategic report with the financial statements for the year ended 31 March 2024.
Introduction from our Chair; Peter Harvey
Welcome to the 161 O Ltd 2023124 Trustee report.
The effects of recent global, national and regional events have continued to have a significant impact on 1610.
The instability created by the unprecedented events of the last three to four years is still very much felt by 1610
as a charitable limited company and continues to influence ihe direction and strategic decisions needed within
the trust to allow it to continue its charilable objectives.
Having negotiated a ditTicult 202212023 year, it became evident that there was urgent pressure for the trust to
consolidate its position. A further reduction in overheads enabled 161 O to continue to fulfil its charitable status.
We moved into 2023124 in a more finically stable position and to continue to look for partners well placed to
support 1610 and the service that it provides.
In June 2023 a new CEO was appointed on a seconded basis to lead 1610 into the future.
The reduction of senior management and 'back office, support to ensure that overheads match the financial
output of the trust has led to 161 O running a very lean team of experienced staff but with limited resources.
The trust is also rapidly approaching key milestones in terms of contract horizons. With limited resources, il is
in a ditTicult position to re-win existing contracts or bid on new and up and coming contracts.
The board, with the help and advice of consultants Strategic Leisure and the CEO began the process in 2023124
of officially pursuing a suitable partner to support 1610 in some way. Either by providing further support or
through a form of merger. As part of this process, the trustees were adamant that they find a compatible
organisation with similar objectives and values.
The pace and scale of evolution ha5 been necessary throughout 2023124 in response to the continuing challenges
faced by the trust primarily as a result of the leisure management worldwide events. Consequenlially the trust
set a new strategic direct to safeguard ihe 161 O legacy.
Structure, Governance and Management
Governing Doeument
161 O Limited is a charitable company limited by guarantee, incorporated on 17 October 2008, and registered as
a charity on 5 June 2009. The company was established under a Memorandum of Associalion which establishes
the objects and powers of the charitable company and is governed under its Articles of Association. In the event
of the company being wound up members are required to contribute an amount not exceeding £ l.
Principgl Actlvities
In 2023124 the Trust operated 3 leisure centres on behalf of local Councils in the Southwest UK. These facilities
provide community access to sporting / leisure / fitness services ensuring local rural facilities are available to
everyone and the promotion of a fit and healthy lifestyle. Complementing the leisure contracts is one 1610
owned Imanaged facility that operate fitness, health, and wellbeing programmes.
Organisational Structure
1610 is strategically managed by a Trust Board comprising of Trustee Directors. The Board traditionally met
four times p¢r annum. The significant changes to the charitable company that were required in 2023124 led to
more regular meetings to address the necessary matters required lo set a and evolve a new strategic direction.
The Board is serviced by a part time Company Secretary. Specialist advisers to 1610 e.g. Accountants l Legal /
Consultants attend Board meetings to advise Truslees as requlred.
The Board delegates responsibility for daily operations to the Chief Executive and General management team.

1610 Limited
Trustees, Annual Report (Incoryorating the Strategie Report)
For the Year Ended 31 March 2024
This team has responsibility for the delivery of contractual outcomes, service specifications and to agree on Key
Perfomiance Indicators. Further pathways of delegation are in place from the CEO / general management team
through to the wider management Team to operate the Trust business units across multiple venues in the
Southwest.
Operational standards are defined through nationally recognised quality leisure management
systernslframeworks that comprehensively document activities and pr￿eSseS for staff at all levels.
Recruitment And Appointment to the Trust Board
Directors of the company are also charity Trustees for the pU￿oseS of charity law. They are elected to serve for
3 years retiring on the third anniversary of their appointment, after which they may be re-elected for a further 3
years. They must retire at the end of that period and may not be re-elected until the expiry of l year from their
retirement unless the Trustees consider that it would be in the best interests of the Charity for a particular Truslee
or Trustees to continue to serve beyond that period and that Trustee or those Trustees are reappointed in
accordance with the company's articles of association. Potentlal new Trustees are identified through networking
and recommendation. it is important lo us that Trustees understand our ethos from the outset and are passionate
about what we do.
In 2023124 three new trustees were appointed to the board. As the board navigated the process of formally
seeking a partner organisation to work or merge with further recruitment of truslees was paused.
The board currently consists of 4 trustees.
Trustee Induction and Tralning
New Trustees are invited to meet the Senior Leadership Team and Board members and are given a short
induction at Trinity Sport and Leisure centre HQ to advise them on the operations, activities, and key personnel
within the Trust. These sessions are led by the Chief Executive and other key senior stsff and include..
A welcome pack: including materials related to Ihe Trust operations and governance (including the
financial accounts), legal status and guidance from the Charity Commission on the responsibilities,
obligations, and liabilities of becoming a Trustee.
Trustees are offered the chance to shadow a Trust Board meeling.
New Trustees are given an opportunity to visit one of the main Trust leisure operations to familiarise
themselves with the core work and to meet Trust staff.
New Trustees are also encouraged to contact the Chair of the Trust, a fellow Trustee, or ihe Company
Secretary to gain a further insighl into the day- to- day business and ethos of the organisation.
Trustees are regularly updated on training opportunities at Board sessions including key functions
around safeguarding and health and safety.
All Trustees are given an induclion as part of the Trust health and safety policy. Core training on
health/safety and safeguarding is delivered to the Board on an annual basis or as and when significant
changes to policy or UK Law dictate the need for a refresh.
Our Aims and Objectives
1610 Trust purposes are defined in the objects set out in the company's Memorandum of Association and can
be summarised as follows:
The advancement and support of education, cultural services, and other related provision through direct
management of facilities or related activity programmes.
The delivery and management of leisure, recreation, and sports facilities particularly with a focus on
provision for 'hard to r¢ach' groups and key target groups thal have barriers to participation.
The promotion and delivery of health and wellbeing programmes with an emphasis on sport and physical
activity.
The advancement of physical education and sport.

1610 Limited
Trustees, Annual Report (Incorporating the Strategie Report)
For the Year Ended 31 Mareh 2024
Other charitable proposals that have public benefit which are consistent with the corc objectives of the
trust.
1610 Trust seeks to deliver high quality services to Somerset and wider Southwest communities. The core aims
of our work is to develop 1610 facilities and programmes to improve health, sporting / leisure abilities and
participation. Contribute to raising the quality of life for the general Community and supporting schools in their
development of young people. Throughout this work, Trustees recognise that there is a need to ensure that the
Trust observes Charity Commisston guidance on public benefit to ensure alignment with activities and the core
Trust aims and objectives.
This model often provides isolated or small rural communities with acces5 to local sports, health, and learning
facilities I programmes where there would be insufficient volumes of people to make dedicated leisure centres
viable.
Through this network of centres, 161 O delivers a diverse programme, often being asked to target hard to reach
groups, those that are financially or socially excluded, isolated communitles or to work in areas with significant
deprivation issues. 1610 works with groups and individuals creating many examples of life changing
experiences. They are often achieved through using leisure I sport / health and fitness as a catalyst for altering
the direction of a person's life or by providing new opportunities for a whole community.
Strategic Report
Achievement and Performance
Managing delivery of our aims
Senior Managers and the Trustees review the Trust aims, objectives and delivery on an annual basis against the
yearly business plan that includes contractual targets and the annual budgets. Each department of the Trust
produces annual work stream plans to enable successful programme delivery and overall development of the
Trust business.
Through the UK Growth Accelerator Programme, 161 O fully embedded the Vision Orbit (VO) strategic business
tool to review and develop the organisations performance. The annual VO, Vital Few and Single Page Plan form
the basis of business planning within the company. Staff members at every level of the organisation use this tool
to align activities.
During the 2023124 year the Trust managed a series of public seclor service contracts in Southwest England:
A ten-year contract with Futures for Somerset, to operate two dual use leisure facililies as part of ihe
PFI Building Schools forthe Future initiative in Bridgwater, Somerset. In 2020 the Futures for Somerset
leisure contract was extended for a further five years to end in September 2025
A ten-year contract with Dorset Council to operate the £8.5m Dorchester Leisure Centre in Dorchester.
Dorset Council extended this contract beyond October 2022- to April 2024. A further contract variation
was agreed during the 2023124 year to extend this contract to April 2026.
The status of each contract is set out in the key activities section below. Each contract has a comprehensive
performance framework that is monitored quarterly / annually by the Senior Leadership Team and the various
Council contract commissioning bodies.
What sets 161 O apart from other fitnesslleisure providers is the changing role of the Trust- it is much more than
just management of leisure centres. Since 2012 th¢ Trust has actively pursued a wider community role, by
increasing the choice of activities from healthy living initiatives, adult leaming programmes lo workforce
developmenl and traintng for the leisure industry. Health and wellbeing are however the platforn] and common
denominator to the activities, and the reason 1610 has an enornious impact on people's lives.

1610 Limited
Trustees, Annual Report (Incorporating the Strategic Report)
For the Year Ended 31 March 2024
Key KPIS for the Trust are:
Number of people attending our sites.
Meeting fitness standards.
Number of customer complaints, linked to customer satisfaction.
Health & Wellbeing attendances.
Number of effective community and club partnerships.
Numbers of Children enrolled on Swim Programmes.
Number of Trust fitness members.
The Focus of Work 2023124
Financial Risk Management l Buslness Stability
The Trustees appointed consultants, Strategic Leisure to provide them with a comprehensive report into
the trust and what the future possibilities might be possible. This report led to the trustees instructing
Strategic Leisure to commence a fornial process to identtfy a suitable organisation to partner.
The business continued the trend from 202212023 and grew organically in key revenue lines.
Key aetivities 202312024
Operations
1610 sites continued to experience organic growth in fitness memberships and swim memberships, both key
revenue lines of 1610 business, The management team has stabilised throughout 2023124 with a number of
successful appointment5 Within the junior management team.
Dor$et Council Lelsure Contract Extension
Early into 2024, Dorset Council approached 161 O to discuss an increase to the existing Leisure Services contract
to operate Dorchester Leisure centre. The Council and the Trust agreed a 24-month extension to March 31, 2026.
A further extension remains possible.
Investment Policy
The majority of funds that the Trust generates on an annual basis is committed to annual operation5. It is unlikely,
in the short or medium term, that there will be significant funds generated for long term investment. The Board
is keen to make provision for the development and growth of the reserve fund. However, it is important that the
Trusl uses its cash to develop business and support the agreed charitable outcomes. Cash in hand is held in a
special interest-bearing account with Natwest. The bank offers a basic treasury service to maximise the
investment of these funds whilst covering day to day operational business needs.
Reserves Policy
The Trustees recognise the requirement to establish a reserves policy. in setting the reserves policy the Trustees
have considered the need to manage resources for Ihe benefit of the charity's aims and objectives and to maintain
financial stability, considering the risks and potential impact in the current economic environment.
The Trust Board review the reserve policy annually and has a policy of holding a minimum Reserve of £200,000.
As income covers operational costs the need to maintain reserves is based on any unforeseen call on funds, and
for future capital and operational expenditure. This has been determined based on the Trust Risk Register.
identifying the fiscal impact of these risks being realised, and future of the Trust. This level of reserves is
acceptable as it meets the minimum reserves policy and allows the Trust to set aside resources to meet the
requirements of the National Living Wage and for future investment projects.
For the first time in 1610 operating history the Reserves policy was tested by COVID and the economic
conditions. The Trust had total reserves beyond the minimum level and levels of cash reserves never fell below
£300,000 in the year.

1610 Limited
Trustees, Annual Report (Incoryorating the Strategic Report)
For the Year Ended 31 March 2024
The Reserves Policy is annually reviewed.
Key Management Remuneration and Performance Criteria
Remuneration for all job roles is evaluated according to the role and level of responsibility. and this applies lo
members of SLT (Senior Leadership Team), and the CEO. CEO remuneration is separately reviewed, set by the
Trustees and agreed annually by the Board. SLT and the CEO have clear objectives both in their area and at a
strategic level. this is incorporated into the Trust's Vision Orbit Business Plan. These objectives are reviewed
on a regular basis both at SLT level and at regular'job chats," which are the equivalent to appraisals. The CEO
reports to the Board on the objectives together with performance of those objectives.
A general pay increase was awarded of 50/0 to staff where they had not been directly impacted by the legal
requirements in 2023124. The impact of Living wage remains a major annual financial pressure for the Trust.
Maintaining pay differentials is a difficult balancing act given the need to compete within an increasingly price
aggressive sector.
1610 has faced significant pressure in pay due to ihe changes in the employment market and workers moving
across sectors for higher paid employment. Given the current financial position of1610 there 15 little opportunity
to increase pay beyond statutory awards.
Employee Information
161 O is dependent on the skill and enthusiasm of its employees to achieve its business and charitable objectives.
The Trustees are therefore committed to effective employee communication and equal opportunities. The
selection, training development and promotion policies ensure equal opportunities for all employees regardles5
of gender, marital status, race, age, or disability. Internal communications are designed io ensure that employees
are well informed about the activities of the charity and staff attitudes are researched so that the Senior
Leadership Team can respond positively to the ideas and needs of employees.
The use of Workplace, a Facebook product for internal business communications, has had a positive impact on
staff engagement. Eighty percent of staff have active accounts, and this tool has enabled all staff, including
casual and remote based people, to access 1610 information and communications.
The Trust continues to 'buy-in' external support for HR matters through Mentor HR services.
Recruilment and retention of staff continues to apply pressure to 1610 due to broader challenges wilhin the
employment market. This is made more difficult by key national themes being attributed specifically to the
leisure industry where it is typically recognised there are national workforce shortages.
Staffing is the major cost in leisure sector companies and 1610 has set an agenda to &spire to have fewer, better
paid staff in the future. The nature of employment in this sector is also changing. More staff are moving to self
mployed roles such as PT trainers I Instructors. Given the financial pressures, the Trust management team has
also been focussing on ensuring that the optimal management Teams are deployed at sites. In 2022123 the Trust
reviewed the Central Management Team, and as result has reduced this overhead which has significantly reduced
financial risk for the business.
Staffing levels have fluctuated throughout the year but remain lean. As of the end of March 2024 the trust
employed a total of158.

1610 Limited
Trustees, Annual Report (Incorporating the Strategic Report)
For the Year Ended 31 March 2024
Financial Review
Full financial details are in the audited accounts.
The headline financial inforniation for 2023124:
The company turnover decreased from £3,291,211 in 2022123 to £3,227,370 year end March 2024.
While the company turnover h&g decreased for a successive year, the restructuring process completed
in 22123 has achieved a significantly reduced expenditure posltion reducing from £4,305,382 to
£3,225,505 in the year end 2024.
Generally, income trended ahead of expected projections for the year.
Key income successes included sports hall usage and pool usage.
The trust also performed well in fitness membership income- exceeding the trust's aim.
The trust continues to encounter higher property costs due to the ageing condition of one of ihe key
contracts in place.
Expenditure controls have remained stringent throughout the year.
The Trust began repayments on the COVID Bounce Back Loan in Dec 2021, the balance remaining as
of March 2024 is £27,435.
The trust managed to report a small surplus of £1,865 in 23124. While this is only a small surplus it
represents a huge improvement on the 22123 position.
Cash at the bank had risen from £430,550 as of the end of March 2023 to £476,905 as of March 2024.
The Trust liability for the LGPS pension scheme for the Dorset Contract showed a positive movement
from a surplus of £3,000 to a surplus of £21,000. It should be noted that this &sse5sment is based on the
annual actuarial assessment year-on-year. The underlying actuarial assessment of the 161 O Ltd LGPS
liability projects the fund is in surplus. when considering the contract in terms of a transfer to a new
operator in an 'on-going contract, basis.
161 O Ltd has successfully steered its way through major restruclure and reductions in central support to largely
maintain its revenue streams whilst significantly reducing operating expenditure, allow the trust to post a surplus
position. The coming financial year should be in a position to conlinue to Ihe momentum gained in 23/24.
Going Concern
The financial statements have been prepared on a going concern basis, which assumes that the company will
have sufficient funds to pay debts as and when they fall due and continue in operation for a period of at least
twelve months from the date of authorisation of the financial statements.
Plans for Future Periods
202412025
Historically, the Trust prepares annual business plans and financial forecasls for the delivery of commissioned
services and developmental work. In recenl years the business plans have been simplified as the core objective
of the Trust has been to regain business and re-position the company and its resources post major global and
national events. This will largely remain the same.
The 2024125 Trust Plan set out:
l. As a minimum success measure 1610 to achieve a £l15k surplus budget position by March 2025.
2. To position 161 O as an environmentally conscious business and ensuring truly sustainable approaches
are taken.
3. Drive staff retention of colleagues who exhibit the 161 O DNA, values and team first approach.
4. Assess 1610,5 social value impact as a charity and identify key metrics that are reported to 1610
stakeholders to highlight the impact of its charitable work.
5. Review all front of house systems.
6. Implement new trust timeline planning tool to organise strategic and top end operational planning
approaches.
7. Increase the Wellness membership base by 150/0 by March 2025

1610 Limited
Trustees, Annual Report (Incorporating the Strategic Report)
For the Year Ended 31 March 2024
8. To rollout 1610 marketing Strate￿ tailored to each facility to help dellver its financial outcomes &s set
out in the budgets.
9. To improve the quality of service and offer at every 161 O centre by setting out quality assurance metrics.
10. To achieve contract extensions and acquisitions.
Financial viability remains paramount for the Trust. This will involve a continuation of building bacl growing
and sustatning the usual 161 O business income streams.
In addition to building back the business levels the trust will have to carefully balance this against the backdrop
of the cost-of-living crisis which brings two key risks. Firstly, that the Trust's core user base may find their
disposable income is squeezed leading to a drop in demand for leisure services undermining the trusts ambitions
of organic growth. Secondly is the ever increases in cost to the trust when purchasing the key resources leading
to increasing expenditure.
The later of these will need to be carefully managed with leisure faculties often being energy hungry,
The trust will continue its work in 202412025 to seek a suitable partner to help move the trust forwards by
seeking opportunities through its leisure management consultants to merge in some form with a another leisure
operator with a shared vision and shared values.
Principal Rlsks and Uncertainties
A full review of ihe Business Risk Regisler lakes place throughout the year, this is reviewed on a regular basis
and the Board is presented with a Business Risk Improvement Plan at each Board meeting, together with any
additional risks that are identified. The risk assessment covers all areas of the business including operational,
financial, compliance, external and governance risks, particularly in the lighi of any new projects undertaken
and changes to the political climate and local economies.
The current principal risks and uncertainties faced by the Trust are:
Impact of the increase in energy cost linked to Ukraine / Russia War.
Recruitment and retention of staff.
Further extension of existing 161 O public sector contracts.
Reliance on low margin activities.
Major Plant failure at sites where 1610 has full repairing liabilities.
Growth of online leisure provider5 1 Home fitness market / new outdoor leisure provision.
Loss of key management (TrusteelCEO/SLT).
Failure of Duty of Care (Health & Safety and safeguarding).
Increasing Pension liabilities with the Dorset LGPS.
Heightened safeguarding requirements impacting on operations on School based dual use sites.
The remaining short timespan on the two remaining Council leisure services contracts,
Financial viability of a much smaller Trust operation particularly linked to inflation costs.
Systems and processes have been put in place to manage and mitigate the risks 1610 face.
For health and safety and safeguardin& external consultants are used to assess operational performance,
highlight risk management issues and actions needed and provide on-going training.
All staff undergo fomial training and regular updates and courses to ensure they understand their
responsibilities regarding safeguarding. Recruitment processe5 are robust ensuring everyone follows
due process, and all staff are Disclosure and Barring Service (DBS) cleared b¢fore they can cornmence
employment with the Trust,
The T￿￿t uses QUEST, a national accredited quality assurance sports framework, to externally assess
all aspects of operational performance - highlighting excellence and areas for improvements.
These external processes support periodic reviews at Board level prompting adjustment to operations as
risks change or new challenges arise.
Mentor Natwest is available, on demand, for external HR support and advice.

1610 Limited
Trustees, Annual Report (Incorporating the Strategic Report)
For the Year Ended 31 March 2024
161 O Ltd appointed Right Directions
a nation UK HIS provider - to audit all aspects of the Trust
operations, provide refresher training for staff and produce a plan to ensure that the re-opened sites and
services had a high-quality HIS system in place.
Robust and rigorous financial processes are in place to ensure performance is regularly reviewed on a daily I
weekly and monthly level and corrective action taken quickly. This has been essential during the COVID
pandemic.
Whilst significant relianc¢ is placed on the CEO and SLT'S skills. ¢ach has a dedicated team supporting them
and no individual works in isolation, ensuring adequate cover can be put in place immediately, temporary Cover
could also be provided by recruiting external professionals, together with support from the Trustees,
At a more strategic level, legal and financial risks are identified and mitigaled through our work with
professional advisers and auditors.
1610 continually strives to improve their margins by developingtheir own branded products and reviewing work
practices to ensure the Trust operates as efficiently as possible. 1610 remains flexible in its approach to ensure
it Can adapt to changes in legislation and contractual requests.
Pool plant failure will always remain a risk that is difficult for 1610 to mitigate against, however we collaborate
closely with our contractual partners to ensure the plant is maintained appropriately where il is our direct
contractual responsibility to do so.
Risk management is a standing item on the monthly Senior Leadership Team agenda and quarterly Board
agenda.
Financial Risk Management Objectives and Pollcles
The Trustees are responsible for monitoring financial risk. Appropriate policies have been developed and
iniplemented to identify, evaluate, and manage the key risks.
a) Price risk - The charity is exposed to price risk as a result of its operations. Due to the economic climate and
new leisure budget operator competilion the charity must sell and provide services at competilive price to
maintain membership levels,
b) Credit risk - Due to the charity's activities, credit is very rarely glven. Any credit extended to customers is
subject to appropriate review and monitoring.
c) Liquidity risk Trustees have regularly been updated on cash flow and financial risk. Support has been
requested by the Trust from financial advisors and commercial lenders to help manage the Trust business.
d) Cash flow risk- the CEO / Finance Team have provided the Board with quarterly updates on cashflow through
the COVID pandemic period. In addition to updates when significant changes have occurred. Cashflow can be
tracked daily via the Xero finance system. This data is available to all Trustees and Senior staff daily.
e) Economic risk - The charity's performance is directly impacted by the economic environment. To manage
this risk, the charity strives to deliver competitively priced products and services. The charity is actively
concentrating on improving efficiency and reducing costs.
0 Credit Rating- the Trust is aware that it is essential to maintain a strong, positive financial profile. The Trust
credit rating is reviewed periodically to monitor the health of the Trust finances.
10

1610 Limited
Trustees, Annual Report (Incorporating the Strategic Report)
For the Year Ended 31 Mareh 2024
Post balance sheet events - April 2024 onwards
Business returns
1610 income and revenue lines have continued with expected industry trends, with income trending
ahead projections.
Cashflow
The Trust cashflow position and cash reserves remain positive and as of September 2024 total cash in
the bank stood at £523,752.
Workforce & Recruitment
161 O is now operaling with a workforce of176 staff. The labour market fluctuates throughout the year
and at times recruitment can be a challenge for 161 O due to the transient nature of the workforce.
Financial Performance
The trust has been able to remain in stable position for the first 6 months of 2024125 and is expected to
make a surplu5 at the end of the 2024125 year.
Change in Ownership
In August 2024 1610 Limited became a wholly owned subsidiary of Wealden Leisure Limited (Trading
a5 Freedom Leisure).

1610 Limited
Trustees, Annual Report (Incorporating the Strategic Report)
For the Year Ended 31 March 2024
Trustees, Responslbility Statement
The Trustees, who are also Directors of 1610 Limited for the purposes of company law, are responsible for
preparing the Trustees, Report (incorporating the Strategic Report) and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard l 02:
The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and
fair view of the state of affairs of the charilable company and of the income and expenditure, of the charitable
company for that period. In preparing these financial statements, the Trustees are required to.,
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP.
make judgements and estimates that are reasonable and prudent.
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements.
prepare the financial statements on the going concern b&8is unless it is inappropriate to presume that the
charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the charitable company and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable
company and hence for taking re&sonable steps for the prevention and detection of fraud and other irregularities
In so far as the Trustees are aware:
there is no relevant audit information of which the charitable company'5 auditors are unaware. and
The Trustees have taken all steps that they ought to have taken to make themselve5 aware of any relevant
audit information and to establish that the auditors are aware of that information.
Authorisatlon of Fingnclal Statements, Trustees, Report and Slralegic Report
The financial statements, which incorporate the Trustees, Report, the Trustees, Responsibilities, and the
Strategic Report, were approved by the Board of Trustees on 23 January 2025 and signed on their behalf by:
P. Harvey
Trustee
12

1610 Limited
Independent Audilor's Report to the Trustees of 1610 Llmited
For the Year Ended 31 March 2024
Opinion
We have audited the financial statements of 1610 LimAt¢d (the 'Charithble company) for the year ended 31
March 2024 whi¢h comprise the Statement of Financial Activities, the Balance Sheet, the Statement of
Cashflows and notes to the financial statements, including stgnificant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its
income and expenditure for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice.
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities
for Ihe audit of the financiaI statements section of our report. We are independent of the charitable company in
accordance with the ethical requirements that are relevant to our audit of the financial Statements in the UK,
including Ihe FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with
these requirements. We believe that the audit evidence we have obtained is sU￿1clent and appropriate to provide
a basis for our opinion.
Concluglons relating to going Concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubl on the entity's ability to continue as a
going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in relevanl
sections of this report.
Other inforniation
The other infonnation comprises the information included in the annual report, including the trustees, report,
other than the financial statements and our auditor's report thereon. The trustees are responsible for the other
inforniation contained within the annual report. Our opinion on the financial statements does not cover the other
infonnation and, except to the extent otherwise explicitly stated in our report, we do not express any fomi of
assurance conclusion thereon.
13

1610 Limited
Independent Auditor's Report to the Trustees of 1610 Limited
For the Year Ended 31 March 2024
Our responsibility is to read the other inforniation and, in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears
to k materially misstated. If we identify such material inconsistencies or apparent material misstatements, we
are required to detern)ine 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
inforniation, 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 undertake in the course of the audit:
the information given tn the trustees, report (incorporating the strategic report and the directors,
report) prepared for the purpose of company law, for the financial year for which the financial
stalements are prepared is consistent with the financial statements. and
the trustees, report (incorporating the strategic report and the directors, report) have been prepared
in accordance with applicable legal requirements.
Matters on which we are required to report by ex¢eptlon
In the light of the knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified Inaterial Inisstatements in ihe trustees, report (incorporating the
strategic and directors, report).
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion:
adequate and proper accounting records have not been kept or returns adequate for our audit have not
been received from branches not visited by us,
the financial statements are not in agreement with ihe accounting records and returns.
certain disclosures of trustees, remuneration specified by law are not made. or
we have not obtained all the information and explanations necessary for the purposes of our audit.
Responsibilities of the trustees
As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors of the
charitable company for the purposes of company law) 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 15 necessary to enable the preparation of financial statements that are free from material misstatetnent,
whether due to fraud or error.
In preparing the financia] statements, the trustees are responsible for assessing the charitable company's ability
to continue as a going concern, disclosin& 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.
14

1610 Limlted
Independent Auditor's Report to the Trustees of 1610 Limited
For the Year Ended 31 Mareh 2024
Auditor's responsAbilities for the audit of the financial statements
Our objectives are to obtain re&sonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assuran¢¢ is a high level of &8surance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, Including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responstbilities, outlined above, to 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:
Identifying and assessing potential rlsk8 of material misstatement due to irregularities
We considered the following when identifying and assessing risk5 of material misstatement due to irregularities.
including fraud and non-compliance with laws and regulations:
the legal and regulatory framework in which the charitable company operates
the sector in which the charitable company operates
the control environment and controls established to mitigate such risks
the results of our enquiries of management about their identification and &8sessment of risks of
irregularities
discussions with the audit engagement team about where fraud might occur
th¢ incentives for fraud.
Laws and regulations which are considered to be significant to the charitable company include those relating lo
the requirements of financial reporting framework FRS102, the Companies Act 2006, the Charities Act 2011,
UK tax legislation, employment law and health and safely. In addition, we consider other laws and regulation
which may not directly impact the financial stalements bul may impact on the operation of the charitable
company.
As a result of these procedures we concluded, in accordance with Inlernational Auditing Standards, that a risk
in relation to the potential for management override of controls exisled.
Audit responses to rfi$k8 identified
We undertook audit procedures to respond to Ihe risks identified, and designed our audit testing to respond to
these risks. The additional procedures we undertook included the following..
gaining an understanding of the charitable company's procedures for ensuring compliance with laws
and regulations
testing the appropriateness of journal entries and other adjustments
considering whether accounting estimates were indicative of potential bias
considering whether any transactions arose outside the normal course of business
making enquirles of management
corroboraling our enquiries through review of Board Minutes and correspondence.
We also communicated relevant laws and regulations and potential fraud risks to all engagement team Members
and remained alert to any indicators of fraud or non-compliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is locatcd on the Financial
Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our
auditor'5 report.
15

1610 Limited
Independent Auditor's Report to the Trustees of 1610 Limited
For the Year Ended 31 March 2024
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part
16 of the Compani¢s Act 2006. Our audit work has been undertaken so that we might state to the charitable
company's members those matters we are required to state to them in an auditor's report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
the charitable company and the charitable company's mernbers as a body, for our audit work, for this report, or
for the opinions we have formed.
Michael Cook Bsc FCA (Senior Statutory Auditor)
For and on behalf of A C Mole LLP
Chartered Accountants and Statutory Auditors
Stafford House
Blackbrook Park Avenue
Taunton
Somerset TAI 2PX
27
2025
A C Mole LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
16

1610 Limited
Statement of Financial Activities (incorporating the Income and Expenditure Account)
For the Year Ended 31 March 2024
As Restated
Total
Funds
2023
Unrestricted
Funds
Restricted
Funds
Total
Funds
2024
Note
INCOME FROM
Donations and legacies
Charitable activities
Other trading activities
Investments
Total Income
14,835
3,061,146
145,641
5,748
3,227J70
14.835
3,061,146
145,641
5,748
3,227,370
36,464
3,110,564
141,352
2,831
3,291,211
EXPENDITURE ON
Raising funds
76,427
76,427
92,018
Charitable activities
Reorganisation costs
3,149,078
3,149,078
4,026,887
186,477
4,213,364
3,149,078
3,149,078
Total Expendlture
3,225,505
3,225,505
4,305,382
Net Income/(Expenditure)
1,865
1,865
{1,014,171)
Transfer between funds
20
Nel incomel(expenditure) after
transfers
1,865
1,865
{1,014,171)
Other recognised gains
Remeasurement of defined benefit
pension schemes
21
18,000
18,000
549,000
Net movement in funds
(16,135)
(16,135)
(465,171)
Total funds brought forward
650,049
651351
1,116,522
Total funds carried forward
20
633,914
1,302
635,216
651J51
The results for the period derive from continuing activities and there are no gains or losses other than those
shown above.
The notes forni part of these financial statements.
17

1610 Limiled
Balance Sheet (registered no: 06727055)
As at 31 Mareh 2024
As Restated
2023
2024
FIXED ASSETS
Tangible assets
Investments
Note
io
509,460
597,314
509,461
597.315
CURRENT ASSETS
Stocks
Debtors
Cash al bank
12
13
10,940
135.150
476,905
622,995
7.289
94,723
430.550
532,562
CREDITORS
Amounts falling due within one year
14
482,883
471,255
NET CURRENT ASSETS LESS CURRENT
LIABILITIES
140,112
61,307
CREDITORS
Amounts falling due after more than one year
15
(17,357)
(28,271)
PENSION ASSET
21
3,000
21,000
NET ASSETS
635,216
651,351
CAPITAL AND RESERVES
Unrestricted income funds
Designated funds
Total unreslrleted funds
19
19
609,908
626,043
633,914
650,049
Restricted funds
19
1,302
1,302
Total Reserves
635,216
651,351
The flnancial statements were approved by ihe Board of Directors on 23 January 2025 and were signed on
their behalf by:
P Harvey
TRUSTEE
R Cardwell
TRUSTEE
The notes forni part of these financial statements.

1610 Linjited
Statement of Cashflows
For the Year Ended 31 March 2024
Restated
2023
2024
Note
Cash flows from operating activities
Net cash generated/(used) by operating activities
41,255
248,077
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash (used)/generated by investing activities
(10,544)
(69,569)
68,553
2,831
1,815
5,748
4,796
Cash flows from financing activities
Loan (repayments)
Hire purchase new borrowinW(repayments)
Net cash generated/(used) in financing activities
(10,648)
20,544
9,896
(10,648)
72,045
82,693
Increase/(Decrease) In cash and cash equivalents
46,355
(328,955)
Cash and cash equivalents at beginning of year
430,550
759,505
Cash and casb equlvalents at end of year
476 905
430 550
The notes fonn part of these financial statements.
19

1610 Limited
Notes to the Financial Statements
For tkne Year Ended 31 March 2024
I RECONCILIATION OF NET INCOME/(EXPEIYDITURE) TO CASH GENERATED FROM OPERATIONS
Restated
2023
2024
Net in¢ome/(expenditure)
Net interest (income)/expense
Depreciation charges
Profit on disposal of fixed assets
{Increase)/Decrease in stocks
(Increase)/Decrease in debtors
(Decre&se) in creditors
(Re-measurement)/lmpairment of fixed assets
1,865
(2,330)
152,588
(1,014,171)
4,984
241,585
292,792
8,390
364,581
(175,588)
29,350
(3,651)
(40,427)
(12,600)
(54,190)
Cash generatedl(used) by operations
41,255
248 077
2 CASH AND CASH EQUIVALENTS
The amounts disc105ed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these
Balance Sheet amounts,,
2024
2023
Cash at bank and in hand
Short term investments - deposit account
10,158
466,747
(3,448)
433,998
476 905
430 550
20

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
ACCOUNTING POLICIES
General information
161 O Limited carries out its objects as noted in the Trustees, annual report. The company is a charitable company
and is incorporated and domiciled in the UK. The address of the registered office is Trinity Sports and Leisure,
Chilton Street, Bridgwater, Somerset, TA6 3JA.
Basis of preparation and statement of complianee
The financial staternents have been prepared in accordance with Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable to charities preparing their accounts accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019)- Charities
SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and
the Companies Act 2006.
1610 Llmited meets the definition of a public benefit enttty under FRS 102.
The financial statements have been prepared under the historical cost convention unless othenvise stated in the
relevant accounting policy note(s).
Preparation of the aecounts on a golng concern basis
The Irustees have considered the going concern requirements and are of the opinion that the accounts should be
prepared on this basis as the company has sufficient funds to continue trading for the foreseeable future. We
believ¢ 1610 has sufficient reserves to continue to trade for at least 12 months from the date of signing the report.
Summary of significant accounting policies
The principal accounting policies adopted, critical accounting estimates, judgements and key sources of estimation
uncertainty in the preparation of the financial statements are sel out below. These policies have been applied
consistently unless otherwise stated.
Income
All income is recognised once the Charity has entitlement to the resources, it is probable that the income will be
received and ihe monetary value of the income can be measured with sufficient reliability and is not deferred.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the
charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable
that the income will be received and the amount can be measured reliably.
Where the criteria for recognition are met in advance of grants actually being received then the income is
recognised within ihe statement of financial activities and amount due included within accrued income in debtors.
Where income is received in advance, it is included within deferred income in creditors until the income
recognition criteria are met.
21

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
ACCOUNTING POLICIES - Continued.
Expenditure
Liabililies are recognised as expenditure as soon as there is a legal or constructive obligation committing the
Charity to the expenditure. All expenditure is accounted for on an accruals b&sis and has been classified under the
headings that aggregate all costs related to the category. Expenditure includes any VA T which cannot be fully
recovered and is reported as part of support costs.
Raising funds comprises all costs associated with raising additional funds for Charity through vending and other
sales.
Charitable activities comprise all costs directly incurred in undertaking activities to fulfil the Charity's objects,
together with any support costs allocated in accordance with the support cost accounting policy as described below.
Other expenditure represents those items not falling into any other heading.
Support costs include administration and head office costs not directly attributable to particular charitable activities
are apportioned to charitable activities as delailed in note 7 to the financial statements.
Fund accountlng
The unrestricted general fund represents the accumulation of the Charity's income and expenditure that has not
been earmarked for specific projects and is not considered by the Trustees lo be for a restricted purpose. To Ihe
extent thal the fund is represented by readily realisable assets it provides a means of financing the day-to-day
operations.
Designated funds represent amounts sel aside by the Trustees for a particular purpose.
Restricted funds represent the funds received by the Charity for particular purposes as directed by the donors.
Hire purchase and leasing commltments
Assets obtained under hire purchase contracts or finance leases are Capitalised on the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to the profit and loss account over the relevant period. The
capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to the profit and loss account on a straight-line basis over the
period of the lease.
22

1610 Limited
Notes lo the Financial Statements
For the Year Ended 31 March 2024
ACCOUNTING POLICIES- Continued.
Tangible Fixed Assets
Tangible fixed assets costing over £500 are initially recorded at cost. Depreciation is provided at the following
annual rates in order to write off the cost less estimate residual value of each asset over its estimated useful life:
Leasehold improvements
Sports equipment..
straight-line over the remaining lease term.
straight-line over l O years or
over the remaining lease temi,
Resistance equipment - straight-line over 10 years or
over the remaining lease tenn.
straight-line over l O years.
straight line over l O years.
Cardio equipment
All other fixtures and equipment
Computer Software
Investments in Subsidiary Undertakings
Investments in subsidiary undertakings are measured at cost and reviewed annually for impairnient. On the basis
that the substdiary is not material to the group, consolidated accounts have not been prepared.
Stocks
Stocks and work in progress is stated at the lower of cost and net realisable value.
Cash gnd cash equivalents
C&sh and cash equivalents include cash in hand, deposits and other short-term highly liquid investments that are
readily convertible to known amounts of cash with insignificant risk of change in value.
Provisions
Provisions are recognised where the charity has a present obligation resulting from a p&8t event that will probably
result in the transfer of funds to a third party and ihe amount due to settle ihe obligation can be measured or
estimated reliably. Creditors and provisions are nornlally recognised at their settlement amount after allowing for
any trade discounts due.
Financial instrument$
Basic financial assets, including trade and other debtors, cash and bank balances and investments in term deposits,
are initially recognised at transaction price. Such assets are subsequently carried at amortised Cost.
Al Ihe end of each reporting period financial assets measured at amortised cost are assessed for objective evidence
of impaimient. Any impairment losses are recognised in profit or loss.
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price. Trade
and other creditors are measured at amortised cost using the effective interest method. Debi instruments are
subsequently carried at amortised cost, using the effective interest rate method.
Pension costs and other post-retlrement benefits
Defined contribution pension plan
(a) The company operates a defined contribution plan for its employees. A defined contribution plan is a
pension plan under which the company pays fixed contribulions to a separate entity. Once the
contributions have been paid the company has no further payment obligations. The contributions are
recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet.
The assets of the plan are held separately from the company in independently administered funds.
23

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
ACCOUNTING POLICIES- Continued
Defined benefiipensionplan
(b) The company operates a defined benefit plan for certain employees. A defined benefit plan defines the
pension benefit that the employee will receive on retirement, usually dependent upon several factors
including age, length of service and remuneration. A defined benefit plan is a pension plan that is not a
defined contribution plan.
The asset/liability recognised in the balance sheet in respect of the defined benefit plan is the
shortfalVex¢ess of the present value of the defined benefit obligation at the end of the reporting date less,
the fair value of the plan assets at the reporting date.
The defined benefit obligation is calculated using the projected unit credit method. Annually the company
engages independent actuaries to calculate the obligation. The present value is detemined by discounting
the estimated future payments using market yields on high quality corporate bonds that are denominated
in sterling and that have terms approximating the estimated period of future payments (discount rate).
The fair value of plan assets is measured in accordance wilh FRS 102 fair value hierarchy and in
accordance with the company's policy for similarly held assets. This includes the use of appropriate
valuation techniques.
Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are
charged or credited to the statement of financial activities. These amounts logether with the return on plan
assets, les5 amounts included in net interest, are disclosed as "Remeasuremeni of net defined benefit
liability"
The cost of the defined benefit plan, recognised in the profit or loss as employee costs, except where
included in the cost of an asset, comprises:
i) The increase in pension benefit liability arising from employee Service during the period. and
ii) The cost of plan introductions, benefit changes, curtailments and settlements.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit
obligation and the fair value of plan assets. The cost is recognised in the statemenl of financial activities
as a finance expense.
Critie81 accounting estimates and judgements
The preparation of the financial statement5 in conformity with FRS 102 requires management to make j udgements,
estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities,
income and expenses.
Estimales and judgements are continually evaluated and are based on historical experience and other factors,
including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by
definition, seldom equal the related actual results. The estimates or assumptions that have a significant risk of
causing a materiaI adjustment to the carrying amounts of assets and liabllities within the next financial year are set
out below.
24

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
ACCOUNTING POLICIES- Continued.
Defined benefitpension scheme
(a) The company has an obligation to pay pensions beneftts to certain employees. The cost of these benefits
and the present value of the obligation depend on a number of factors, including: life expeclancy, salary
increases, &8set valuations and the discount rate on corporate bonds. Management estimate these factors
in detemlining the net pension obligation in the balance sheet. The assumptions reflect historical
experience and current trends. See note 21 for the disclosures relating to the defined benefit pension
scheme.
Prior period adjustment
Wher¢ corrections are required to comparative figures, these are adjusted in the earliest period to which they relale.
Details of such restatements are included in note 26.
NET INCOMEI(EXPENDITURE)
Net incomel(expenditure) is stated after (crediting)Icharging:"
As
Reslaled
2023
2024
Depreciation
Auditors remuneration for audit work
Auditors remuneration for accountancy services
Auditors remuneration for taxation and other services
Loss on disposal of fixed assets
Interest on bank loans
Interest on hire purchase
Rentals under operating le&ses- plant and machinery
Impairment of sports equipment
152,558
14,550
6,925
28,605
241,585
12,700
3,700
4,950
292,792
1,062
6,753
3,457
29,350
812
2,606
719
,908
DONATIOIYS AND LEGACIES
2024
Total
2023
Total
Unrestrieted
Restricted
Unrestricted
Re$trlcted
Grants & donations
14,835
14,835
18,512
17,952
36,464
14,835
14,835
18,512
17,952
36,464
25

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- * r
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Qcoa<

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
OTHER TRADING ACTIVITIES
Income from Vending and Bar
Sales
2024
Raising Funds - Cost of Sales
2023
2024
2023
BSF contract
Dorset contract
Activities
114,950
25,878
4,813
115,599
17,449
8,304
60,825
11,384
4,218
70,841
14,901
6,276
Total Sites
145,641
141J52
76,427
92,018
27

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crt r-
oo
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f-4
t>
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tn
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QtsaQ<

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
8 STAFF COSTS
2024
2023
Salaries and wages
Social security costs
Pension costs
Redundancy costs
1,519.098
85,035
38,107
1,898,696
130,374
60,283
96,660
1,642,240
2,186,013
No employee's emoluments fell within the band of £80,000 - £89,999 (2023: One).
No employee's emoluments fell within the band of £260,000 - £269,999 (2023: One).
Some employees are members of a defined benefit pension scheme, details of which are provided in note 21.
Key management personnel remuneration is disclosed in note 22.
The average number of employees during the period, analysed by contract, was as follows:
2024
2023
BSF Contract
Dorset Contract
Activities
Total Direct Staff
Head Office Admin Support
66
66
19
66
66
151
153
158
161
TRUSTEES, REMUNERATION
During the period, no remuneration has been paid to the Trustees or any person connected with them (2023: £Nil).
No travelling expenses were paid to Trustees (2023,, £Nil).
29

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
10
FIXED ASSETS - As Restated
Leasehold
Property
Improvements
Fixtures and
Equipment
Computer
Software
Total
Cost
At l April 2023
Additions
922,128
1,261,940
10,544
126,793
2,310,861
10,544
At 31 March 2024
922,128
1,272,484
126,793
2,321,405
Depreciatlon
At l April 2023
Charge for year
Impairmentl(remeasurement)
624,399
57,987
1,047,577
81,476
54,190
41,571
13,125
1,713,547
152,588
54,190
At 31 March 2024
682,386
1,074,863
54,696
1,811,945
Net Book Value
At 31 March 2024
239,742
197,621
72,097
509,460
At 31 March 2023
297,729
214,363
85,222
597,314
Included within fixed assets are assets with a net book value of £32,658 (2023: £9,509) relating to assets held under
finance lease agreements. The depreciation charged in the period in respect of assets held under finance lease
agreements amounted to £31,041 (2023: £16,596).
During the year on renewal of finance leases, the net realisable value of the relating assets was reviewed. The assets
were subsequently upwardly remeasured by £54,190 to the remaining lease value (2023.. £29,350)
li
INVESTMENTS
Total
Cost
At l April 2023 and at 31 March 2024
Net Book Value
At 31 March 2024
At 31 March 2023
161 O Limited owns l OOO/o of the subsidiary Incedo Limited. The Company's principal activity is to carry out trading
activities on behalf of161 O Limited.
30

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
12
STOCKS
2024
2023
Trading stock
10,940
7,289
10,940
7,289
13
DEBTORS
2024
2023
Trade debtors
Other debtors
Prepayments
Amount owed by subsidiary undertaking
60,202
24,926
48,820
1,202
28,832
29,280
35,409
1,202
135,150
94,723
14
CREDITORS: AMOUIYTS FALLING DUE WITHIN ONE YEAR
Restaled
2023
2024
Trade creditors
Social security and other taxes
Finance leases
Other creditors
Bank loans
Accruals
Deferred income
118,819
33,757
32,659
5,021
10,078
217,802
64,747
82,845
38,400
9,509
6,794
9,000
263,044
61,663
482,883
471,255
31

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
15
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
Bank loans
17,357
28,271
17.357
28271
An analysis of the maturity of loans is given below:
2024
2023
Bank loans
Amounts falling due within one year
10,078
9,000
Amounts falling due between one and two years
10,332
10,906
Amounts falling due between two and five years
7,025
17,365
16
SECURED DEBTS
The following secured debts are included within creditors:
2024
2023
Credltors: amounts falllng due within one year:
Finance leases
Bank loans
32,659
10,078
9,509
9,000
Creditors: amounts falling due after one year:
Bank loans
17,357
28,271
60,094
46,780
The finance leases are secured on the related leased assets.
The bank loans are secured by a fixed charge over all plant and machinery and goodwill, owned now or in the
future and a floating charg¢ over all other property assets and rights of the company. The loan was drawn
down in November 2020 under the provisions of the Coronavirus Business Interruption Loan Scheme
(CBILS). The loan carries interest at the rate of 2.5 % and will be fully repaid by Novernber 2026.
32

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
17
CONTINGEIYT LIABILITY
The Charity had guaranteed its payment obligations under a contract for the management of leisure facilities
by arranging performance bonds for £115,744 and £90,528 which expire in January 2025 and £29,000 and
£IOO,000 which expired in October 2024.
18
LEASE COMMITMENTS
Hire purchase eontracts
Minimum lease payments fall due as follows..
2024
2023
Net obligations repayable:
Within one year
32,659
9,509
32,659
9,509
Other operating leases
2024
2023
Non-caneellable operatlng leases
Minimum paymenls under the leases are as
follows',-
Leases expiring:
Within one year
Between one and five years
719
2,738
719
719
3,457
33

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
19
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible
rixed
assets
Net
current
assets
Long terni
Liabilities
Pension
Liability
Total
Restricted Income Funds
GAP funding
1,302
1,302
Total Restricted Funds
1,302
IJ02
Unrestrieted Income Funds
Trinity sinking fund - designated
Unrestricted income funds
Pension reserve
24,006
114,804
24,006
606,908
3,000
509,461
(17,357)
3,000
Total Unrestricted Funds
509,461
138,810
(17J57)
3,000
633,914
Total Funds
509,461
140.112
(17,357)
3,000
635,216
Purposeg of Restricted Funds
GAP funding is for supporting the programme of play schemes in Glastonbury. The money was for purchasing
and maintaining equipment to benefit the children.
Purposes of Designated Funds
The Trustees have set &side the following designated fund:
The Trinity sinking fund - which represents fund set aside in respect of future facilities management services
of the Trinity c¢ntre.
The Pension reserve relates to the defined benefit pension scheme as detailed in note 21.
34

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
20
MOVEMENT IN FUNDS
Restated
Balanee as
at l April
2023
Balance as at
31 March
2024
Actuarial
Gain
Income
Expenditure
Transfers
GAP fundtng
Total Restricted
Funds
1,302
,302
1,302
1,302
Trinity sinking
fund - designated
Unrestricted
income funds
Pension reserve
24,006
24,006
605,043
21,000
3,227,370
(3,225,505)
606,908
3,000
(18,000)
Total Unrestrl¢ted
Funds
650,049
3,227,370
(3,225,505)
{18,000)
633,914
Total Funds
651J51
3,227J70
{3,225,505)
(18,000)
635,216
35

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
21
EMPLOYEEBENEFITOBLIGATIONS
West Dorset District Council scheme
During the y¢aT ended 31 March 2013, 1610 Limited agreed a contract to provide leisure services for West Dorset
District Council. Part of this contract included the transfer of employees and their associated pension benefit
obligations. As part of the transfer agreement the defined pension obligations in respect of transferred employees
became the responsibility of 1610 Limited from l October 2012. These pension scheme obligations at the balance
sheet date showed a surplus of £3,000 (2023: Surplus of £21,000).
The employer contributlons expected to be paid to WDCC scheme during the period ending 31 March 2025 are £4,000.
The assets of this defined benefit scheme are held separately from those of the company and comprise segregated
funds of the Dorset County Council Pension Fund in respect of pension benefits provided by the Local Govemment
Pension Scheme (LGPS) to employees of1610 Limiled. The LGPS is a defined benefit statutory scheme administered
in accordance with Local Government Pension Scheme Regulations 2014. It is contracted out of the State Second
Pension and currently provides benefits based on career average revalued salary and length of service on retirement.
The scheme is now closed to new members.
Contributions are set every three years as a result of the actuarial valuation of the Funds required by the Regulations.
The most recent full valuation was 31 March 2019. The next actuarial valualion of the Funds will be carried out as at
31 March 2022 and will set contributions for the period from l October 2023 to 31 March 2026. There are no minimum
funding requirements in the LGPS but the contributions are generally set to target a funding level of l 00% using ihe
actuarial valuation assumptions.
The company does not operate any unfunded schemes.
36

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
21
EMPLOYEE BENEFIT OBLIGATIONS- continued
The amounts recognised in the statement of financial activities are &5 follows:
2024
Total
2023
Total
Defined benefit scheme..
Current service cost
5,000
10,000
Total charge in operating profit
5,000
i 0,000
Defined benefit scheme..
Net interest {income)lexpense
Admin expenses
( 1,000)
1,000
13,000
1,000
Tolal charge
5,000
24,000
Defined Benefit Pension Plans
2024
Total
2023
Total
Present value of funded obligations
Fair value of plan assets
Impact of asset ceiling
(696,000)
797,000
(98,000)
(695,000)
716,000
Pension fund assets
3,000
21,000
The principal Aetugrial a5suinptions at the balance sheet date Ivere:
2024
2023
Discount rate
Future salary increases
Future pension increases
Consumer Price Index price incre&se
4.95 %
2,90/0
4.8%
2.90/0
2.9%
2.9%
2.9%
37

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 Mareh 2024
21
EMPLOYEE BENEFIT OBLIGATIONS - continued
Mortality
Assumptions regarding future mortality experience are set based on actuarial advice in accordance with published
statistics and experience. The post retiremenl mortality tables adopted are the S3PA tables with a multiplier of 900/0
for males and l OOO/o for females. These base tables are then projected using the CMI 2020 Model, with an allowance
for future longevity improvement of1.250/0 per annum, smoothing parameter of 7.5 %, an initial addition parameter of
0.50/opa and a 2020 weighing of 250/0.The 2020 weight parameter reflects the exceptional mortality due to the
coronavirus pandemic. The effect on assumed life expectancies is demonstrated in the table below.
The average life expectancy in years for a member from the age of 65 are:
2024
(years)
21.8
23.9
23.1
25.40/0
2023
(years)
22.2
24.2
23.5
25.6
Retiring today..
Male5
Females
Males
Females
Retiring in 20 years
Demographic / statistical assumptions;
A set of demographic assumptions thal are consistent with those used for Ihe most recent fund valuation as at March
2024 were adopted.
Reconciliation of seheme assets and liabilities
Assets
£000
716
(7)
Liabilities
£000
(695)
Total
£000
21
At l April 2023
Benefits paid
Employer contributions
Contributions by scheme participants
Current service cost
Interesl income/(expense)
Admin Expenses
(i)
(5)
(33)
(5)
34
(i)
(i)
Remeasuremenl
Actuarial gains
Relurn on plan assets excluding interest income
Impact of asset ceiling
ainsl
losses
31
31
51
(98)
(98)
At 31 March 2024
699
696
38

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
21
EMPLOYEE BENEFIT OBLIGATIONS- continued
The fair value of the major categories of scheme assets are as follows:
Defined Benefit Pension
Plans-Total
2023
£000
446
2024
£000
499
Equities
Liability driven investment
Other bonds
Diversified Growth Fund
Infrastructure
Multi asset credit
Property
Cash
52
53
59
55
62
17
47
48
54
47
58
12
797
716
The return on plan assets was:
2024
£000
34
2023
£000
20
55
Inlerest income
Return on plan assets less interest income
Total return on plan assets
(17)
{35)
22 RELATED PARTY TRANSACTIONS
During the year the company paid for goods and services on behalf of Incedo Limited, a wholly owned subsidiary
to the value of £1,219 (2023: £2,869). A balance of £1,202 (2023: £1,202) was owing from Incedo Limited at
the balance sheet date.
The key management of the charity comprises the Chief Executive Officer. The total employee benefits of the key
managemeni personnel were for the year £55,976 (2023 CEO and SL T: £517,715).
23 COMPANY LIMITED BY GUARANTEE
The company is limited by guarantee and has no authorised or issued share capital. In the event of the company
being wound up members are required to contribute an amount not exceeding £1.
24 ULTIMATE CONTROLLING PARTY
As a company limited by guarantee, the company is not under the control of any one individual. All decisions
are taken by the Board of Directors who are the members of the company.
39

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
25 COMPARATIVE INFORMATION
STATEMEIYT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND
EXPENDITURE ACCOUNT) FOR THE YEAR EIYDED 31 MARCH 2023- AS RESTATED
Unrestrieted
Funds
Restricted
Total
Funds
2023
Funds
INCOME FROM
Donations and legacies
Charitable activities
Other trading income
Investments
18,512
3,110,564
141,352
2,831
17,952
36,464
3,110,564
141,352
2,831
Total
3,273,259
17,952
3,291,211
EXPENDITURE ON
Raising funds
Charitable activities
Reorganisalion cost5
92,018
3,945,199
186,477
92,018
4,026,887
186,477
81,688
Total
4,223,694
81,688
4,305,382
Net expenditure
Transfer between funds
(950,435)
67,952
(63,736)
(67,952)
(1,014,171)
Remeasurement of defined benefit pension schemes
549,000
549,000
Net movement in funds
(333,483)
(131,688)
(465,171)
Total funds brought fonvard
983,532
132,990
,116,522
Total funds carried forward
650,049
1,302
651JS1
40

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
25 COMPARATIVE INFORMA TION (Contlnued)
ANALYSIS OF NET ASSETS BETWEEN FUNDS AS AT 31 MARCH 2023- AS RESTATED
Net
Current
Assets
Long
Term
Liabilities
Tangible
Fixed Assets
PeDSiOD
Liability
Total
Restrieted Income Funds
GAP Funding
1,302
1,302
Total Restricted Funds
,302
1,302
Unrestricted Income
Funds
Trinity sinking fund -
designated
Unrestricted incorne funds
Pension reserve
24,006
35,999
24,006
605,043
21,000
597,315
(28,271)
21,000
Total Unrestrieted Funds
597,315
60,005
(28,271)
21,000
650,049
Total Fund5
597,315
61,307
(28,271)
21,000
651,351
41

1610 Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
25 COMPARATIVE INFORMATION (ContAnued)
MOVEMENT IN FUNDS FOR THE YEAR EIYDED 31 MARCH 2023- AS RESTATED
Balance as
at l April
2022
Balance a5 at
31 March
2023
Actuarial
Gain
Income
Expenditure
Transfers
GAP funding
1,302
,302
South Molton
Torridge
131,132
556
(81,132)
(556)
(50,000)
ATP lights
17,952
(17,952)
Total Restricted
Funds
132,990
17,952
(81,688)
(67,952)
,302
Trinity sinking
fund - designated
Unreslricled
income funds
Pension reserve
23,271
735
24,006
1,488,261
(528,000)
3,273,259
(4,223,694)
67,217
605,043
21,000
549,000
Total
Unrestricted
Funds
983,532
3,273,259
(4,223,694)
549,000
67,952
650,049
Total Funds
1,116,522
3,291,211
(4,305,382)
549,000
651,351
42

1610 Limited
Notes lo the Financial Statements
For the Year Ended 31 March 2024
26
PRIOR YEAR ADJUSTMENT
Income Recognition
During the year it was identified that income recognition timing in respect of membership fees was not consistent with
the requirements of the Statement of Recommended Practice. Accordingly, the prior year comparatives have been
restated. An opening balance adj ustment has been recorded to rectify the deferred income balance reducing opening
net assets by £52,305, Th¢ comparative figures have also been updated increasing deferred income as al 31 March
2023 by £58,677. The impact of this adjustment is a £6,372 reduction to income in the comparative figures and a
£58,677 reduction to net assets as at 31 March 2023.
Fixed Asset Impairment
During the year it was identified that fixed assels held under leases had not been depreciated in line with the lease
term. Accordingly, the prior year comparatives have been restated to reflect the impairment of the assets reducing
netbook value to the remaining lease value. An opening balance adj ustment to rectify the value of those assels has
been recorded, reducing opening net assets by £92,431. The comparative figures have also been updated to reflect an
impairment expense of £29,350 during the 2023 year. The overall impact is a reduction of nel assets of £121,781 as at
31 March 2023.
Expenditure Recognition
During Ihe year it was identified that expenditure accruals in respect of wages and profit share were understaled by
£92,955. The comparative figures have been updated to reflect this additional expenditure. The impact of this
adjustment is an increase of £92,955 to unrestricted expenditure and a decrease in net assets as at 31 March 2023.
The effect of the above prior period adjuslments on reserves as at l April 2022 is as follows:.
Unrestrleted Restrlcted
Funds
Funds
Total
Funds
As previously reported
Adjuslment of impairment of assets
Adjustment of deferred income
As restated at l April 2022
1,128,268
(92,431)
52,305
983,532
132,990 1,261,258
(92,431)
52,305
132,990 1,116,522
27
POST BALANCE SHEET EVENTS
On l August 2024 Walden Leisure Limited, a Co-operative and Community Benefit Society, registration number
IR29336R, has taken over the ownership of1610 Limited,
43