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|||Page|
|---|---|---|
|Trustees report||1-7|
|Independent
auditor's|report|8-10|
|Statement offinancial|activities||
|Balance sheet||13|
|Statement ofcash flows||12|
|Notes to the financial|statements|14-27|
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|||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2022|2021|
||||Notes|||
|Income from:||||||
|Donations
and legacies|||3|654,346|895,507|
|Charitable
activities:||||||
|Leisure activities|||4|3,196,757|882,805|
|Funding
income|||4|73,440|73,440|
|Total income||||3,924,543|1,851,752|
|Expenditure
on:||||||
|Charitable
activities|||5|3,760,022|2,877,072|
|Net income/(expenditure)||for the year/||||
|Net incoming/(outgoing)||resources||164,521|(1,025,320)|
|Other recognised|gains|and losses||||
|Actuarial
gain/(loss)|on defined benefit pension schemes|||724,000|(792,000)|
|Net movement
In funds||||888,521|(1,817,320)|
|Fund balances at 1 April||2021||(2,639,910)|(822,590)|
|Fund balances at|31 March 2022|||(1,751,389)|(2,639,910)|
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||||||2022||2021||
|---|---|---|---|---|---|---|---|---|
|||||Notes|f.||||
|Cash flows from operating|||activities||||||
|Cash generated
from/(absorbed
by)
operations||||23||577,556||(337,722)|
|Investing|activities||||||||
|Purchase|oftangible
fixed assets||||(43,008)||(2,549)||
|Net cash used in investing|||activities|||(43,008)||(2,549)|
|Financing|activities||||||||
|Repayment|ofborrowings||||(17,197)||(15,145)||
|New bank|loans
in the year||||||570,000||
|Repayment|of bank loans||||(152,453)||(37,001)||
|Payment ofobligations
under|||finance leases||(72,936)||(50,838)||
|Net cash
financing|(used in)/generated
activities||from|||(242,586)||467,016|
|Net increase
In cash and cash equivalents||||||291,962||126,745|
|Cash and|cash equivalents|at beginning||of year||80,049||(46,696)|
|Cash and|cash equivalents||at end of|year||372,011||80,049|
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|||||||||2022|2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Notes|R|||
|Fixed assets|||||||||||
|Tangible assets|||||||||2,104,564|2,324,108|
|Current assets|||||||||||
|Stocks|||||||10|11,987||6,240|
|Debtors|||||||11|114,681||183,107|
|Cash at bank and|in|hand||||||372,011||80,049|
|||||||||498,679||269,396|
|Creditors: amounts||falling|||due||within||||
|one year||||||||(1,540,598)||(2,845,475)|
|Net current liabilities|||||||||(1,041,919)|(2,576,079)|
|Total assets less|current|||liabilities|||||1,062,645|(251,971)|
|Creditors: amounts||falling|||due||after||||
|more than one year|||||||15||(1,914,034)|(914,939)|
|Net assets excluding|||pension|||liability|||(851,389)|(1,166,910)|
|Defined benefit pension||||liability|||17||(900,000)|(1,473,000)|
|Net liabilities|||||||||(1,751,389)|(2,639,910)|
|Income funds|||||||||||
|Unrestricted
funds:|||||||||||
|General unrestricted||funds||||||(851,389)||(1,166,910)|
|Pension reserve||||||||(900,000)||(1,473,000)|
||||||||||(1,751,389)|(2,639,910)|
||||||||||(1,751,389)|(2,639,910)|
|The finenotet statements|||wer||e||roved by the Trustees|on2.).!.!..Z2|...||
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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||||E|
|Government||and other grants|||371,136|870,984|
|Donation|from fellow group company Absolutely||Together Trading|Ltd|263,482|4,662|
|Other donations|||||19,728|19,861|
||||||654,346|895,507|
|||Leisure
actlvltles|Management
fees|Total
2022|Leisure
actlvlties|Management
fees|Total
2021|
|---|---|---|---|---|---|---|---|
|||2022|2022||2021|2021||
||||R||R|||
|Charitable|activities|3,196,757|73,440|3,270,197|882,805|73,440|956,245|
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||Direct Costs|Support|Total|Direct Costs|Support|Total|
|---|---|---|---|---|---|---|
|||Costs|2022||Costs|2021|
||2022|2022||2021|2021||
||||E|E|R||
|Staff costs|1,329,913||1,329,913|1,133,868||1,133,868|
|Depreciation||262,552|262,552||341,285|341,285|
|Overheads|||||||
||63,652|1,789,018|1,852,670|52,073|1,171,751|1,223,824|
|Lease Charges||1,574|1,574||11,544|11,544|
|Other Loan Interest||24,018|24,018||4,700|4,700|
|Bank Charges||67,818|67,818||55,303|55,303|
|Legal and Professional||4,750|4,750||||
|Defined Benefit Pension|||||||
|Costs||151,000|151,000||57,000|57,000|
|Consultancy||49,727|49,727||36,723|36,723|
|Governance costs|||||||
|Auditors
Remuneration||16,000|16,000||12,825|12,825|
||1,393,565|2,366,457|3,760,022|1,185,941|1,691,131|2,877,072|
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|The average
monthly
number ofemployees
during t|he year was:||
|---|---|---|
||2022|2021|
||Number|Number|
|Leisure activities|85|89|
|Employment
costs|2022|2021|
||R||
|Wages and salaries|1,203,475|1,018,277|
|Social security costs|75,468|58,879|
|Other pension costs|50,970|56,712|
||1,329,913|1,133,868|
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|Employees|Employees||||||(|Continued)|
|---|---|---|---|---|---|---|---|---|
|The number of employees||whose annual||remuneration||was more than f60,000|||
|is as follows:|||||||||
||||||||2022|2021|
||||||||Number|Number|
|690,001 - f100,000|||||||||
|The remuneration|of key|management|personnel||isf98,259 (2021:f90,156).||||
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|Tangible fix|ed asset|s|||||
|---|---|---|---|---|---|---|
||||Leasehold|Improvements|Plant and|Total|
||||properly|to property|machinery||
|||||R|||
|Cost|||||||
|At 1 April 2021|||1,832,270|603,782|2,834,910|5,270,962|
|Additions|||||43,008|43,008|
|At 31 March|2022||1,832,270|603,782|2,877,918|5,313,970|
|Depreciation|and impairment||||||
|At 1 April 2021|||183,227|603,782|2,159,845|2,946,854|
|Depreciation|charged|in the year|73,291|-|189,261|262,552|
|At 31 March|2022||256,518|603,782|2,349,106|3,209,406|
|Carrying
amount|||||||
|At 31 March|2022||1,575,752||528,812|2,104,564|
|At 31 March|2021||1,649,043||675,065|2,324,108|
|(2021|-F|77,922)for the year.|||
|---|---|---|---|---|
||||2022|2021|
|||||R|
|Plant|and|machinery|113,666|175,820|
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|10|Stocks||||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||R|R|
||Finished|goods||and goods for resale|11,987|6,240|
|11|Debtors||||||
||||||2022|2021|
||Amounts|falling due within one year.|||R|R|
||Trade debtors||||862|15,361|
||Other debtors|||||45,506|
||Prepayments||and accrued income||113,819|122,240|
||||||114,681|183,107|
|12|Loans and overdrafts||||||
||||||2022|2021|
||||||R||
||Bank loans||||1,758,949|1,911,402|
||Other loans||||27,872|45,069|
||||||1,786,821|1,956,471|
||Payable|within||one year|175,966|1,436,609|
||Payable|aRer|one year||1,610,855|519,862|
||Amounts|included
above which fall due after five years:|||||
||Payable|by instalments|||991,500|81,105|
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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||||f.|
|Within|one|year|||60,538|72,936|
|Within|two|and|five|years|87,872|148,409|
||||||148,410|221,345|
##
|Creditors: amounts
falling due within one year||||
|---|---|---|---|
|||2022|2021|
||Notes|||
|Bank loans|12|156,719|1,419,413|
|Obligations
under finance leases|13|61,898|72,936|
|Other borrowings||19,247|17,196|
|Other taxation and social security||25,784|33,519|
|Deferred income|16|444,972|136,800|
|Trade creditors||444,340|526,635|
|Amounts
owed to fellow group undertakings||10,752|323,410|
|Other creditors||96,323|88,877|
|Accruals||280,563|226,689|
|||1,540,598|2,845,475|
##
|Creditors:|amounts
falling due after more than|one year|||
|---|---|---|---|---|
||||2022|2021|
|||Notes||R|
|Bank loans||12|1,602,230|491,989|
|Obligations|under finance leases|13|86,512|148,410|
|Other borrowings|||8,625|27,873|
|Other creditors|||216,667|246,667|
||||1,914,034|914,939|
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||2022f|2021|
|---|---|---|
|Arising from grants|238,000||
|Arising from block bookings/events|206,972|136,800|
||444,972|136,800|
||2022|2021|
|||R|
|Deferred income is induded
within:|||
|Current
liabilities|444,972|136,800|
|Movements
in the year:|||
|Deferred income at 1 April 2021|136,800|103,035|
|Released from previous
periods|(136,800)|(103,035)|
|Resources deferred
in the year|444,972|136,800|
|Deferred income at 31 March 2022|444,972|136,800|
##
|Defined benefit schemes||||
|---|---|---|---|
|Key assumptions||||
|||2022|2021|
|||4/o|0/|
|Discount rate||2.55|2.05|
|Expected rate ofincrease of pensions|in payment|3.05|2.80|
|Expected rate ofsalary increases||2.00|3.80|
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|Mortality assumptions|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|The assumed
life expectations|||on retirement|||||at|age 65are:||||||
||||||||||||||2022|2021|
||||||||||||||Years|Years|
|Retiring today|||||||||||||||
|-Males|||||||||||||21.3|21.2|
|-Females|||||||||||||24|23.9|
|Retiring
in 20years|||||||||||||||
|- Males|||||||||||||22.6|22.5|
|-Females|||||||||||||25.4|25.4|
|Amounts
recognised
in|the profit|||and|loss||account:||||||||
||||||||||||||2022f|2021|
|Current service cost|||||||||||||161,000|91,000|
|Net interest on defined|benefit liability/(asset)||||||||||||30,000|14,000|
|Other costs and income|||||||||||||1,000|1,000|
|Total costs|||||||||||||192,000|106,000|
|Amounts
taken to other|comprehensive|||||income:|||||||||
||||||||||||||2022|2021|
|Actual return on scheme||assets|||||||||||(182,000)|(140,000)|
|Less: calculated
interest|element||||||||||||27,000|26,000|
|Return on scheme assets||excluding|||interest|||income|||||(155,000)|(114,000)|
|Actuarial changes related||to obligations|||||||||||(569,000)|906,000|
|The
amounts
included||in the||balance|||sheet||arising|from|the|Charitable|||
|Company's
obligations|in|respect||of|defined|||benefit plans||are|as follows:||||
||||||||||||||2022|2021|
||||||||||||||R||
|Present value ofdefined||benefit obligations|||||||||||2,433,000|2,760,000|
|Fair value of plan assets|||||||||||||(1,533,000)|(1,287,000)|
|Deficit in scheme|||||||||||||900,000|1,473,000|
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|Movements|in the present valu|e|ofdefined|benefit|obligations:|||
|---|---|---|---|---|---|---|---|
||||||||2022|
|Liabilities at|1 April 2021||||||2,760,000|
|Current service cost|||||||161,000|
|Contributions|from scheme members||||||24,000|
|Actuarial gains and losses|||||||(569,000)|
|Interest cost|||||||57,000|
|At 31 March|2022||||||2,433,000|
|The defined|benefit obligations|arise from plans which are wholly or partly funded.||||||
|Movements|in the fair value of plan assets:|||||||
||||||||2022|
||||||||R|
|Fair value ofassets at 1 April 2021|||||||1,287,000|
|Interest income|||||||27,000|
|Return
on plan assets (excluding|||amounts|included|in net interest)||155,000|
|Contributions|by the employer||||||41,000|
|Contributions|by scheme members||||||24,000|
|Other|||||||(1,000)|
|At 31 March|2022||||||1,533,000|
|The fair value ofplan assets at the reporting||||period|end was as follows:|||
|||||||2022|2021|
|||||||R||
|Equity instruments||||||951,000|771,000|
|Debt instruments||||||248,000|210,000|
|Property||||||183,000|159,000|
|Cash||||||32,000|59,000|
|Target ratio portfolio||||||5,000|53,000|
|Infrastructure||||||188,000|105,000|
|Longevity
insurance||||||(74,000)|(70,000)|
|||||||1,533,000|1,287,000|
##
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|Analysis|ofnet assets between
funds||||
|---|---|---|---|---|
||||Unrestricted|Unrestricted|
||||funds|funds|
||||2022|2021|
|Fund balances at 31 March 2022 are represented||by:|||
|Tangible assets|||2,104,564|2,324,108|
|Current assets/(liabilities)|||(1,041,919)|(2,576,079)|
|Long term|liabilities||(1,914,034)|(914,939)|
|Provisions|and pensions||(900,000)|(1,473,000)|
||||(1,751,389)|(2,639,910)|
##
||2022|2021|
|---|---|---|
|Within one year|511,242|557,211|
|Between two and five years|2,302,914|2,246,022|
|In over five years|350,710|711,790|
||3,164,866|3,515,023|
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|23|Cash generated
from|operations||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||f.||
||Surplus/(deficit)
for the|year||||164,521|(1,025,320)|
||Adjustments
for:|||||||
||Depreciation
and impairment
oftangible|||fixed assets||262,552|341,285|
||Difference between
pension charge and|||cash contributions||151,000|57,000|
||Movements
in working|capital:||||||
||(Increase)/decrease
in|stocks||||(5,747)|8,931|
||Decrease/(increase)
in|debtors||||68,426|(72,757)|
||(Decrease)/increase
in|creditors||||(371,368)|319,374|
||Increase
in deferred
income|||||308,172|33,765|
||Cash generated
from/(absorbed||by) operations|||577,556|(337,722)|
|24|Analysis ofchanges|in net (debt)/funds||||||
||||||At 1April 2021|Cash flowsAt 31March 2022||
||||||R|R||
||Cash at bank and in hand||||80,049|291,962|372,011|
||Loans falling due within|one year|||(1,436,609)|1,260,643|(175,966)|
||Loans falling due after|more than one year|||(519,862)|(1,090,993)|(1,610,855)|
||Obligations
under finance leases||||(221,346)|72,936|(148,410)|
||||||(2,097,768)|534,548|(1,563,220)|