Chaty rnu1strn0n nwnb•r 1131013 Company reglstratl¢)n number 06822082 {EnglAnd and Wal) ABSOLUTELY LEISURE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ABSOLUTELY LEISURE LEGAL AND ADMINISTRATIVE INFORMATION Tru8teeB J H Glllan J E Blackbum D V Grggory Key m•n•g•m•nt personn•l G SincLgir {Chlef Execullv&l Charlty numb•r 1131013 Company numb•r 06822082 Rog1stor offic• TheArena Staff$rtim Way Maldenhead Befkshlrè Unltad lfjngdom SL6 1AY Audltor tsAudil S0Ces Gladstone House 77-79 High Strèèt Egham Surr¢y Unitsd lfjngdom TW20 gHY
ABSOLUTELY LEISURE CONTENTS Pag• Trust88s rnport Indtrwndent auditorfs report 8-10 Statement of financ4al 11 Balance shgot 12 ststemont of cash flow8 13 Notes to the financ4al statern•nts 14-27
ABSOLUTELY LEISURE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustsés pr¢senl th&Sr annual report ¥nd finandal stalom•nts for Ihe year endad 31 March 2024. The Truste&% confim that thay compty wilh thè requirerngnts of the Charitw Act 2011. a3 am8nded by tho CompaniesAct 2006, thè Mèmoiandum and Artkjes ofA88(thfjon and the Charilios Stslgmenl of rocommend Prn¢Uce {SORPI 2019. ObCtIV0* and a¢tl¥lll•$ Absolutaly Leisure is a vtholty ownèd charity Ih8t èxists to PTOVKl8 or 8SSiSt in the pwskn of fa¢MMl8s and servic6s for recTeabonal or other lèisure time occupation in the inl$rssts of social welfare. Such farilities being provldgd to thè public al largg Sa that special fa¢ilrfl&s may be provldèd lor persons whct by rea80n of thelr youth. age. Infimiity or di8abilty, poveity or social or economic circumstst)c8s may have nesd of sp181 facllities and sthcas. Additionally. the Charity oim5 to promota and preservè good he811h through comrnunity p8iticipation In healtty Tecrgatityn and l or such other ch8ritsbte purpose8 benefiaal to the communlty consislenl wrth the objg¢ts of ihe chartty. Achl•v•m•nts and perlomian¢• The Ch8rity is very proud lo have weathered tha unprecedenl¥d lurbulenco of the last 4 years. And etthough tho$0 tuthulenl times look to conunue, the Chartty i8 in a 8troroer and more re811ienl plac& than it was 4 years ago. Durlng the last year Charity rnel its target to provlde over 40.000 Smi18 actSvitie8 to the communHles il works vAih. W8 now wovide regular 8¢hod currf¢ulurn aclivitt8s to 9 SEN xhools. Stsff retenllon Ss omong the hlghesl In our sector and $&2ff report a feollng a positsve engagèment in the work of the tharity. Throughout thè Ihe Chaiity Sta wlthin it5 finand81 obkn'gatio to th& Nalw8sl and rt15 pleasing Ihat surplus hhs been achieved for the fin8ndBI year. The Charity rfves no toC81 autthjity or govemmenl fundlng and relitis on grants and donations to support its programmss. Wlthout thls support, th8 Charity would not be able to d¢lwèr the breadth and x8le of a@ivlti&s to its benefi¢iarfes. During last yearthe Charity received grnnts and donations lotalliThJ nearty £f.000. Flnanclal t•vi•w TrUsS are pleased to report thatAbsolutety L•lsure has mad? a surplus for th8 thlrd yo8r In successlon. Cash Ilow thin the Charity raInS well managed. and atthough the are dip3 In cash llow through certair) polnts, the Charity ha3 nol ng8(led to use Its ovordraft faalty. A Sigrtfflcont challenge throughout 202314 was th& Impact of the N8tiono1 Mlnlmum Wage. The Charity wes ab to award all staff not rec8iving mSnlmum wage Incrèases, an 8nr>u81 Increase in pay of 2.5%. Whllst thls wa$ below infiation staff were under8tandln9 ond oralelul for th6 Sncrease. Ro¥erves pollcy Th& Board has an asplralion to Increase Rs rn$8Nes to a levsl of £250.000 over tho next 4 yèars. whilst recognlslng that during these gxtr•ordlnarity lurt)ulènt times m8intsining 8 consistent Tessrve be ¢hallenglng. P•Mlon co8ts Tw$tees are aware of Ih? pènslon infOnall0n requlred to be Induded In the st•lulory accounts. The pension referred to is a Local Govemment Penslon Sd)eme ILGPSI for a totsl of 8 employeès who have prevTh)usty be¢n transferred from tho kxal aulhortty. The sch•m• is undervhlttèn by HM GovemmonL Twstees un¢J$rstsnd that the calcul8lK)n$ requlred lo bg u$8d for statsjtory purposes are notion81 and r&prgsenl only on? of the pension fijnd, as dlrected by the FSA. In Djntrast th$ latest 0Ctuarial fgviw from the Fund Managers appoSnted actuary. B#rnèt Waddingham. shows an ahemaUv$ posftion - the fund Is in surplus and emplwrs. conlribution for the ngxt 3 years are stati
ABSOLUTELY LEISURE TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Risk mAnag•ment The m&mbars of the Board havg a duty to identrfy and review thg risks to whoch tho Charity is exw$ad and to en5ur• appropriate conlrds are In place lo prode r&asonable assurance agalr1 fraud and error. The Boafd membgrs Cf)nflmi that the major risks to the Charity have been r8vi•wed and that systems or procedures have b&en esiablisned w manage tnose rfsk5. ThE Board [JfTruèls Ivvit• and updatos the Risk Rogi?ter at evary Board Meetsng 8nd mgnagemenl work to mltigale risk8 id8ntifi&d. Of the most recent emor9lng risk. the impact of the National Minimum Wage continues to be a focu$ of ManagernenL Iwklng at ways lo work dTrTerenlly to absorb Ihe8e SionOnI ojsts within tho nornial operating costs. Plans for future p•rfods The Trustees have wmmitted to growing the reach of the ChBrtty and lo delivertng the progrydmmos ofAbsolutoly Ttsgether in every community that the Ch8TIty works in. Addllionalty, the Trustaes want to conlnue to offer 'enabling support, lo ¢ompl8mentary Ixjmmunity groups and chariiies using ourv&nu8S. In Aprfl of thbs year the Board approved • rwsod sel of OU1 strategic objedlvos for the Charlty for the nexi S yearn. These indud¢'. Growth of ow Smll8 pmgrammes to nèlghbouring communltles Furthor developmgnt of our Work Ploeèment I erIenc8 programmos ond extend our tsrget b¢n&fidaries lo indude youn9 adult8 1 add0nd needs Groater partnering l&bure PTovlders to Support our Smllo$ progTamm& RAtAin kèy eontracts and lèasès Rodgvglop Maid$nh¥ad and XC nU¢S Disposg of car park land at Maidenhead Post year-8nd the Charity introduc9d a rw4 Ilegt of 818ctric karts kn children aged 4 to 7 Yea old at Mahlenhead, end r&placed its gym membership Sofiware to o n8w, mora dynamic 8offvre that provide$ grnater features for members. Our c¢ntsad wlth the owngrs of Rr>Jue Leisure has been exttrnded for up to a furthgr 12 months. Structurn. govornanc• and m¥nag•m•nt Tho Board of Trustees 8r8 also Directors of Absolulely Leisure. The Board met for formal meengS 6 tlmes durfng tha year to overs&& the managem$nt and admlnistration of the Charity, and to rol¥e rogular updates on varfous aspects of the Chaws acbvitie5 from the Managernént Team. Govomlng dxumgnt Thp Ch8ri1oble Company is controlled by Its govemlng document. a dgad ot trusL and constitutss a limit8d mpany, IlmSted by guaf8nteg. as defined by thg companSAct 2006. Thè Trusts•s, vtho are also tha dSroctors for thè purpose of company law, and whts s¥rved during the yeor ond up to the date of signature ofth8 ffin•ndal statements wore.. J H Gillan A C Taylor J E Bloekbum B E Edwards D J G#l&Page D V Gregory {Rgslgn8d 4 April 2023} {Resignad 4 April 2023} IRe51gned 20 Febwary 20241 Recrultm¢nt and appolntmgnt ot n•w Trustee In exefcisin91ts powers to nominate, appolnt, roappoinL doct, e1¢t. gpsxove and dismlss membgr, Ihe members Shall seek lo ensurè that the board is representative ofthe local communty and also comprises persons th a rangs of skills who ar• lik&ly to contribute to Ihe Charitys suc¢¢ss.
ABSOLUTELY LEISURE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 8o•rd memb•rn Induction and tr•lnlng New Trust&&$ 8rg Invlted lo attend and observe at least 2 Board Meeting8 btsre confirmlng tr¢glr 8P18Ce to becorne a Trustoè. During the ysar the Board compl8tod skllls audlt lo holp Infomi Tr¥Jstee recruitment. Thi5 Idenlthed the neèd for finanaal, HR and legal experien¢0 omounl new Tnjstsès, skillsets. PJI new membeT8 joinlng tho Board reL%lvod a fvN Inductk)n th8t is almad at training Ih8rn In their statut rg$ponslbilrtses und¥r Charfty and comp8ny law. The induction VAII norn1 Indudo: Meeting with the Chalrman and the Board and the M8n8glNJ Director Tour of all fad1&S ad an opportunlty to meet statr, Receive pIeS of the Charity$ Nl8S: Receive PiS of ofstralegy and business planning documents., Receivo 8n organisational 81ru¢tuw and ovorvlew ofthè management proc8ss; and Delall8 of the CharfW8 relationship wlth the parent organlsation-Absolutely Together, 85 well os asxKi8tions wth other relevant thlrd parues su( as landlord. dients gtc. Organlsatlon structuro & how de¢lslon Èrn mad The Board of Trustaès has responsibility for administsring thè eharity. The Trustèès have appolnte<J ¥ Chlef Executive Officer to manage the operalnS of the Charity, Thg Board has agre¥d to d8F8galed powors to manage this affangomgnl. The Management Team, led by the Chlaf Execulfve, meet W00Y lo review the overall perfoman¢e ofthè Charfty, and to plan and implement nècèssary actions. Thtr Management Te8m Indude5 Oper8tion$, Flnance. People Managèmenl, Health and Safèty and Busin&s¥ D¥volopment functi¢)ns. Aquarterfy meeting Is held with lh¢ wider mana9m•nt t&•m to di¥GU¥g end plan futurc th0knvttl. Two junior mano99rs ¥r• lJwlt4d to attènd eaeh quarterfy meelSng to galn a better In$lght Into the Charity and Its managemgnt. S*ttlng of pay Th• People Devefopm&nt Scheme Is a company pollcy that endows all pay rate18v¢ls forAbsdutety Lelsure. The Board approve any pay rises on an annual basls and thtrse ore then confimed the pdiry. The pay of the Chief Execuuve is sel In line 4th an historical $uMy of stmllar slzad and rMproX organlsattons In the wider Third Soctor. as well as in r$gard lo the skills and gxporience of the post-holder. The Chlef Executive Sets thg pay for his immediate team. based on the framework detaile<l wthin the Charity's People Development Scheme. and again I1h reference to the skills ad &xperience of the post-hddets.
ABSOLUTELY LEISURE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ChaSrf8 Rèport This report covors a period of Apdl 2023 to Morch 2024. During th& yèar have achieved OUT primary target providlng over 40.000 Smlb 8c16vSlles for ¢hlldron ¥th odditlonal nèods- and Ih•ir f2mlli•s. W# now h•vo rulr protsr>mmAg At (IVAry tsnÈ of our venu8s. 85 well as working with partners aw$$ tho L¥)mmunrty to promdè greater accoss to our target benefiari. During the year the ch8rity continugd to develop its business operations and to grow on what was 8 very positive previous year. The e¢¢nomEc environment contsnued to be probl$m8tlc for all busingsse$. and charitie$ esped811y. The Impact of the war In Ukraine forced utilty costs to'skyrod(et'. this impact lagoed due to the fixed contracts that chartty had èntèrèd before the conflict. The annual incrèas• in the National Minimum Wagg continues to Impact thg tharity. and while th8 Govemfflgnfs inlenlion is1gudabla. It does add a hug& Strain to the financs of the charity. l am pl$asgd to stale that the charity is robust ertough to weather thesè varfous extemal pressures 8nd Conn8$ lo provldè Invaluable advities for chlldren wlth addOnal ng8ds. and Ihgir famillès. We continue lo èxpand OUT programmas and our ambit¢on8 and in th• coming year 8r• aiming for a 25% In¢reose in acvibo8 - d81ivering 50.000 Smlle octiviti&s in the communlb'es we seNe. It rernains our Sntention to focus on ¢hlldren with additional needs. o)nlinually and pemmnenuy. and to fvrther embed'Ab8olut81l Into every community wg work In- pulling SMI on faces. and my fellow Trustees. would like lo thank th& staff of thè Charity. our Btaksholders and of cours& our customers, for Sypporting Absolulety Le nd making oui work possible. JaGe Qillan Chalr
ABSOLUTELY LEISURE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Publlc B•n•flt St*tsm•nt The Tnjstees o)nfim that th8y have referTed to thè guidance contalnod tho Charfty Commlssion's gongra guldance on publ5¢ bgngfil whon revlewlng the Chari$ alms and ObltiveS, and in planning fulure acb'wli$$. Ab4)lutely Togèth&r programmo6 provld• fr•• l•lBur• advlti•s to bc81 famill&s that hAVA thildrÈA wNh addilitsnAI n8ed5. Th$s& faMilS are iecognised as oftèn facing the most challeThJ&% accessing leisure for rnany rea50n$. Our programmes provide free use ofAbsolutely Lelsure a¢tivlUgs as well a8 donaung vouchers for fretr access to other local'partneff lelsufe faclliti¢s. Programme$ wn at every venue Ihal we operot¢. meaning that we serve 7 communllies within the wider Tham88 Valley Tegion. During the year we promdèd over 30.000 to children wilh additional n88ds wlthin our communitles. These ocUvlUes Includ8d.' lan pin b0Ing. karting. climblng. sMmIng. thèatro visits, visits to local attraction¥. gym us6. and trlps to the lo¢al un$m8. Through our Absolutely Together adv19$, we nnue to support families with childr8n who havg additne1 needs. Ouf programm op8rale al each of our 9 venues as wèll as at carelully 8918¢ied leisure parln8rs in tho commun&ties we serve. This allows U8 to offer 8 wlde-rangin9 programme with activtb$$ that rn8el the rhoeds of atl the famllies wg $upporL During tho ar. wa ddlvered ovei 40,000 SmS18s to local fam11$ supporbng childr8n th Special Educational Needs {SENI, helptng rdieve thr 80aal l$o1otion and improva their ntaI wellbfring. Actwilies provhdod this year havg IndLtded- Tèn-pin bovAlng Karting Climbing Swmming Theatre vislts Thtrme park Gym use Dise golf . Trips to Ihe clnema TotherK8rtlry We now opgrate our Togeth8T Karting prjmm0 across OUT kart tracks in Aylesbury. Brtstol, and Maldenhead. Our specially adapted karts give children the unique opportunty to experience karting alongslde mambets of theirfamlty. atkng m8morie8 thatwlll18$t a IW8tSmg. Our wort ¥th Ial SEN schools has Contlnued to expand across the three tsrilitias and now provides 10 hours of karting per week, supportin9 sehools with their extrdcurricular progr8mmg at no ojst to them. Teachers invdvèd it) the programme are very ¢omplimenlary about th& benefrts for thoii pupils, as this comment form a teacher demonstrates.. W8 have h8d such great fe8db8¢k from student4 Staff, ond parents th6 benefft of attoftdlng the Gt> Karting 58sslons with you. 11 h8s helped to improve oursludts'8rteNnmenIJI school as th8y arg now wanting to eng898 and le&m due to hovAng such 8 great reward-bBsgd activ to attend. It has elso helpgd to inVOVO ¢X studont$'Gonfidence with engaging wlth unfamiliar adults andin an unf8mHl8renvironm&nt." Across the year, ovèr 12.000 smlles were delivorgd across tho kartlng sites. which Is a large increase iin last year. We wll look forfurther opportunities to incrtrase this in the Or ahead.
ABSOLUTELY LEISURE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 I.QOOs of Smi"le$ Thanks to a grant from tho Roctory Foundation. w8 were able to tr)nnue our 1,IKKI8 of Smith progrnmme In Buckinghamshire. We PLtrchase vouchers at 8 discounted rats from various lelsufe fadlwes across tha region FKI 1rL1¥ lTriuiii fivu of thaw9fl tg fomilios Yiith SCN thildron. 1,000$ of Smlles oJntinue8 lo bts hug6ty populaf, wlh ovgr 600 farnilies engagStvJ In the most rgc£nl PTogramm&. which delNered over 6,000 8mile$ over a s1xryKYnlh perfod. F4m1119S With SEN children wntinuè to find their access to leisure actlvitlès resthcted. wlth 82% of the familigs WO gn9ag• with saying they find thi5 ¢hallenging. 97% of padpants in th¥ programme say that 1.OOOs of Srnilès has Improvgd th9Sr families. acces$ to telsure. wsth 90% of these reporting Ihal the programm& has Improved tho11 Wgllbolng. Tho iwaGI is best shown in the comments received: Tr'$ holped my lamity so muth. I have such trouble gettlng the Cldren out together, but belng able to spertd a d8y out attogeth&r has made such g blg Impa< and we all loved ill All Ihe thldren had huge smiles on tholr fa¢&&' "A$ thè mum of en autistiG son, ft takes 8 long tim8 (and mon&yJ fo bulld tsp confidence $nd loloranco ofngw things. Absolutgly has realty been g beam of sun$hing durfng th8 finanu'olly difficuft times 8nd allowed my son ro 8xp8nd ths hoiizon& ar• grnleful to the charity.. Worf( Exp9¢8 Durfng the ye8r wo developed a work $xp&rfence pro9r8mm¥ for young adults wlth additional needs to develop many of lh¢ skills they wsll need as they transition fr¢)m educatlon Into working Ilfo. The StatiCS around unemployment In young adults with additional needs whèn they laave educat)n arè unfortunalety very high. With our supporL wè are assisting young people in ta'nu tt)elr first steps Into employment by providlng them wth a 3tructurgd onvironment where they can leam the skills that many empkjyers will look for in their futures. Ouf programme TS from tra)nal work erinCe by taklng ace over 12-week blo¢ks, with students attending on¢¢ a week. We assess èach student and t8llor WO lask8 to thelr needs. Teachtrrs from the schctils are hugely Impressed wih how we have Integratsd Ihelr students into a real work environment. and the sludents en th$ir Ilme vAth us. W¢ aro Inrxodlbly proud that two of tha 'graduates' of OLTrr work experionco pro9ramme hav& now entered paid trmployment wrth us, whic we understand Is In¢redlbty rAre. The ci)nfiden¢¢ and skills that these tsvo young people continue io develop will gtve them a atforn to help develop their careets in the fviure. The lè5gura Industy remains an Swadibty acces$iblo career for young pèople with addonal needs. The 9roup Intands to continue developing Its work experiènce programm8 by launchlng a SLtpported Intèm scheme, whi¢h wlll glve School leavers Ihe opportunSty to gain wod( &xp¢rI0n with us bthilo continuin9 thelr studi88 and gèttlng rea14ife, on-tho-lob experience5.
ABSOLUTELY LEISURE TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 8tat•ment of Thist• rpOn$1b1llllo8 The Tnjstees. who 8re also the directors of AbsolLtely Lei5urg lor the purpose of company law. are respon$lble for preparing the Trustaas Report ar thè financAal Stslemènts in accordan¢¥ with applicaL•19 law and Unit8d Ktngdom Accountin9 Stondards {Unittid Klngdom GenerallYApl8d Ac4ounliwJ Practice). Company Law requires th• Trwtees to prepars flnanckal statements frjr each financial y8arwhth gfve a true and falr vlew of Ihe state of ¥ffglrs of the Charilable Company 8nd of the incoming resources and apF4i(alon of rgsources. induding the Income and expenditu. of the chaiitabl& wmpany for that y$af. n PrePing these financial statements, the Trustees are required to: - soleet sultable accountin9 pdldes and then apply them consistsnuy: - obser¥8 the mebknd$ and principles in the Charities SORP" - make judgements and èstlmates that are rèasonabte and pnjdent.. ond prepar8 the fin8nci81 statsments on tha goiThJ concem b¥$ls unless 11 Is Inapprow6ale to pro$ume that th• Charitable Company continue in op8raJon. The Trustees are rèsponslble for ketspin9 8deqLtale accountlng records that disclose with Teasonable accvracy at any time thè finanuol posltkn of th& Charitable Company and enable them to ensu that ihe financSal stslements comply with the Companbes Act 2006. They aro 8lso responsibl¥ for safeguarding the assets of the Charitabl• Cornpny honco for tgkints r6asnnxhlA 2ttÈps fr)r the prevention and delec16on of fraud and other irr¥9ularlltBs. Dlselosur• of Inforni¥¢ion to audltor Each of the TnJsl8es hys cortfimd tt th¥m Is no Information of which they are 8ware which Is mlevont to tha audiL but of which the auditor Is unaware. Thèy have fvrther confimied that they hav8 taken appropriate steps to dentify Such relevant infomi0on and to estsbllsh that Ihe auditor b aware of infomialion. Audltor In 8rd#nett with the compan8 8rtides. a resolulic+n proposing lhatAtsAudIt ServKg5 be reapwntèd os auditor Of th$ company will be pul 4t a General Meeting. Thk8 reFOrt h8s bagn propar&J in a¢wrdance wilh the pmMslon5 applicBbl8 to c#)mpanieB $nths the 8malJ companies gxèmptson. The Trusts•s report ed by the Board of Trustees. Glllan
ABSOLUTELY LEISURE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ABSOLUTELY LEISURE Oplnlon Wg have audited the finanaal statements of Absolulety Leisure {tha 'Charitabl8 Compan} lor tho year ended 31 Mareh 2024 which comprise the ststemenl of financAal actiwtses, tho balance sheèt. tho stalemgnl of cash flow8 and th$ noles to the finawal statements, Induding a summary of signrtlcant accounting pollcles. The financial reporting Iramgwork thai nas Deen 8pplle(J In thelr prepa¥4llon l¥ ¥yyliLdblty law ond Unitod Kin9dom AcKounting Standthrd-, Indudlng Fln8nclal Reporfing Stsndard 102 The Fmwnclal Reporting Sfandard 8ppliGable In the UK8nd Republic of Ireland Iunltod Kingdom GenernltyAccEpted ACcrtn9 Practice). In Ouf opink*n, the financial ststÈments: 9Sv6 a Inje and falr VI of the state of the charitable Companys affair8 as at 31 March 2024 and of its Inwming resouTCeS and application of i¢sourc£s. Includin9 its income artd •xpenditrJre, for the year then ended.. ave boen property prepared in 8¢¢ordance with Unitgd lQngdom Generally Acceptsd Amnting PracOc8'. and h8v& been prepared In 4¢o)rdance tha qUIrements of tho Companies Aci 2006 and the Charities Act 2011. Basls for oplnlon Wg conducted Ouf audit In accordance with Inlgmational Stsndards on Audrttng {UK) IISAs IVKII and applicab18 law. Our responsibiliti?s under th08e sfandards Are further described In the AUdAkn$ responsibil$S for the audit of the Ilnanci81 sl&tsments sedon of our reporL Wo ole independ8nt of the Charitable Company in acoJTdance wth th9 othical requiremonts that are relevant to our audit of the financial statemgnts In th8 UK, in¢luding the FRC'S Ethiool Slandard. and wo hgvo fU11•d our oth•r othlL>l rsgpongibilltl&q in Aernrdance with thèse requirements. We believe th91 the audit ewdenco have obtai 1$ $(rfent and approprlats to provide a bBsis forour opinknn. Concluslons r•Fallng to golng ¢onc•rn In audlting tho finan1 statements, we havo eonclsjded that thè Trusteès uso of the going concem bash of ac¢ountiryJ in Ihe preparation of the financial ststements Is approprfate. Basad on the work we have performed. w¢ have not idènttfiod any material unc6rtalnties rglating to events or condittons thaL indi%Adually or collectively, may cast 819nifi¢#nt doubl on the Charitable CompanYs abilty to ¢ontinue as a going ¢oncem for a period of at lea81 Ie1ve months from whon the financial statsments 4re authoTrised for issue. Our r8sponsibilitios ond the reBpon8ibilitie$ of the Tru3tse$ whh rospect to going concem arè describod in tho relevant sections of1his rnport. We atso draw attention to Ihe dtsdosuros In noto 1.2 regardh)9 wlng ccficom. Our oplnion is not modifted in thi8 respect. Oth•r Inforniation The other infomalton romprtses the information Induded In the annual report other than the finanoal stalements and our auditofs report Ihgreon. The Trustees are r&Sponble for thB other informatltsn contained thIn the annual r¢port. Our opinion on the flnanrA81 statements does not cy)vei th& other tnlormation and. ¢xcept to Ihe extent otheiSe expyiddy stated In our raport, we do not gxprsss any forn of assurance ¢tsndusion thor¢on. Our responsibility is to read the othtrr infomafjon and. in dolng so. consider whethef the other irnformatk)n is matertally ino)nsi5tenl wilh the finanaal 8tstèments or our knovAÈdga obtalned in thè courne of thg audit. or olherwse appears to be rnalgdally mlsstated. If wa identify such malgrial incknnsistenTh85 or apparent matedal misstatsmonts, we are required to d&tem)ine whethèr thSs gives rise lo a materfal misstatement In the ffn8nGial statements themsefve5. If, ba3ed ort the work we hav8 perlorned, we concludo that there is è material misslatsment of this otl)er Informat60n, we are rwuired to report that fact. Wo havo nothing lo repth in this regard.
ABSOLUTELY LEISURE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ABSOLUTELY LEISURE Oplnlons on 4)th?r malt•rs pr•5crfbed by th• Companle• Act 2006 In our opinion. ba$ad on thg work undèrtakèn in the course of our audrt.. Iho Informallon gN9n In the TnJstee5 report for the finantyal year for which the finandal stat8mgnts aro pared. which Indudes Ihe directors. report prepared for purposes of company law. is consistent with thg nancl81 statements; and the dir8Ctors' rèport Induded thIn Iho Trustges re[ has b8on prepared in a¢cordance with awlkable18oal uirements. M•tt•rs on whlch w¢ •r• r•qulr•d to report by èxc•ptlon In the Ilghl of the knth8dge and undgr5tandlng of the Charitable Company oThJ Sts environmgnt obtalned in th& COUTse of thtr audit. we have not Idontified matsrial misstatements in thg directors. report Induded wthin the Trustees r¥poJt We have rIng to rewrt in resp of thg followng mattors In relation to whkh the Comp8nl¢$ Acl 2006 requlros us to report to you . in our oplnion: aduate accounting records have not been kept. or relums 8d8quate for oui eLKIIt have not been received from branches not 811•d by us.. or the financial ststem8nts are nol in &owm8nl wlth the accountirrfJ records and retum5; or c8rtaln dlsdosures of trustaas, ramLtneration Spe¢ by law arg not made.. or we have not reced all the infomiation and &xplanations wuire for our oudlt. or th? Trustees were not entillèd to prepare the financial slalemgnts in accordance wth the small ¢ompanie8 regime gnd take advantsgo of the small compani&s' exemplions In preparfng the TNstges report and from the requirement lo ppare a 8tralegic rtrporL R•sponslbllities of Twstee8 As explained more lulty in the Statemènt of Trustee$ spOnSIbIlItIeS, thè Trustoes, who arg 8lso the dirgctors of the Charitablo Company for the purposg of company law, ar¥ msponsible for the Preparation of the finanaal ststoments and for btring satisfied that thèy glve a true and fair vi•w. and for su( int&mal control as th6 Trustees dgl¢miine i nSsary to enable the preparatlon ol flnanaal stst¢mènts that free from materi81 misstatement, whether du8 to fraud or error. In preparing the financAal statements. the Trustees are responsible for 8ssessing the Charitsble Comp8ny s Bbility to Ixjntinua as a going concem. dlscloslng. as applicable, m8tters rÈl8tsd lo going ujneem end using thè gc4ng cJ)ncem basls ol accounting unless the Twstees oither Intend to14UKlate the charftablo cmpanY or to se Operatior, or h8v8 no realistic altemalfv& but to do so. Audltofs r•spon61bllltlg8 fw th• audlt of th• flMn¢lal statom•nts Our objectives aro to obtain Te&8onablg assurance about wh&th8r the financi statoments a3 0 whole are free from material misststgmant, vthether due to fraud or error. and to Issue an audltorfs report that indudfrs our opinlon. Reasonable 8$$urance i8 a high levol of ossurance bLIt ks not a guaranleg that an audit conduetad In accordance wlih ISAS {UKI wlll always deled a matèrial misslatsment when it exists. Misstatements can arise from fraud or error and aro eonsidered materfal N. indmdually or in the 8ggregate, thgy wuld reasonably bo •xpected to inlluence the eCore d8dslons of us8r5 taken on the basis of these finanaal $tst•ments. A fvrther descdplkjn of our responb}llO$ Is aVaIlab on Iho Ftnancial Rgporung CounrAI's bsIte at.. httysjl W.frC.org.uauditorSrespsibil1Iie5. Thi$ description form$ part of our 8udtiorfs reporL
ABSOLUTELY LEISURE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OFABSOLUTELY LEISURE Extont to whlch the audlt wa$ ¢oMld•rad Pable of d•t•etlng Irr•gularftie$, ineludlng fraud Irregularltiès. induding fraud, are Instsnces of nonvcompliance wth laws and regulatlons. We deslgn proc8dures in line wlth our responsibilitie8, oudlne<l 8bovo ond on Flnandaj R6portlng Coun¢il'$ website. lo ddect material rnisststemenls In respect of irTegulaThbes. Including fraud. We obtaln and upd8ts our understanding of thè 8nlty, its actNil¢4s, Ks (xjnlrol environmnt, and Ilkely fvture developments, induding In relat)n to the legal and regulatory framework appllcable and how thg entity is g)mplylng ¥th that framtrwork. Based on this undeTrtanding. we identify and ¥ss6ss the risks of material misslalement of the financial 5talemènts. whether due to fraud or error. design and ptrforn) audlt proceduffjs rssponslve to thoso rfsks. and obtabn 8udlt 8vldènce that 15 suffjcient and appropriate to provldo a basis for our opinion. Thls Indudes consideration of thè risk of acts by the entity that ware contrary to appli¢able laws and regulations, inc4uding fraud. In response to tho ri$k of Irregularitses and noTr¢ompliance with laws and regulation8, Indudlng fraud, we deSned prcttdures whlch Induded.. Enquiry of monagemenl and ttrme charged with g0voman gmund actual and pote1 litig8tion and dairn$ as as actual, suspected arKI alleged fraud., Rswewiny mlnLttes of meetings of those ¢harg8d wtth govgmance.. Assessing th& extent of compliance with the laws and regulations conssderod lo have a direct material effert on thè finaneAal slatements or th$ operotions ol th9 Ontty through enquiry and Insp0cbon', Rewgwing financAal statement di3dosurns and testin9 to supporting do(yJmentstion to assess compliance with applicable laws and regulations., Perfonning 8udR work over Ihe risk of management bias and override of ¢ontrols, induding tgsting of Jumal Èntriès and other adiustm•nts for opproprfatene&q. evaluatina the business rationale of $ignlficant transaction5 outslde th& rrnl wurse of buslnoss and reviewir¥J 8¢countsng estim#l•s for Indicatorn of potential bias. Bacausg of the inhgrenl limitations of an audit, thgro is a rfsk that we will not detect all wregularltles. Indudlng those leading to a material mlsststement In the finandal staternents or non-compliance t regulauon. Thi5 risk Increases the moro that ¢ompliance wlth a law or règulation 15 removed from the events and transactions re11e¢t8d In the finanrial stslemènts. as we will be less likety to become awarg of InstAn of non•(x)mpli8nce. The risk of not deteciing a matsrigl ml$$tatem8nl resulting from fraud is higher than f<Y one resulting from error. as fraud mgy Involve collusion. forgtsry. intentional omissions. mlsrepresentations. orth& overrlde ol intsmal Control. U$• of our report This report is mad& sololy to the charitabl8 company's membors, os 4 bo¢ty. in accordan¢o th Chapter 3 of Part 16 of the Companlgs Act 2006 and lo the charitablg companl¥ mgml)ws In accordarKe Iwth Part 4 of th8 Choribes (Accounts and Reports) Regulalions 2008 Our audst work ha$ been undertaken so th we mlghl ststs lo the charitable companys members and tts tru$t8es those matters we am requlred to stsl• to them in an au¢JJtor's report and for no other purF*)se. To the fvllest èxt•nt permitted by law, we do not awpl or assume rgsponsibility to anyon# oth&r than the charitatA8 company And the ch81iiabla companls membgrs a$ a body and th• charitae COMny'S trustses as a body, for our ditwOrk, for Ihis roporL orfor the opinions we have fornwd. Paul Cr•asey {Senior Ststutory Audltorl for and on bohalf olAzets Audlt Servl¢•s Chartet¢d Aeeountants Statutory Auditor GIJ$tOne House 77-79 High Stregt Egham Sufrey Untted Kingdom TW20 9HY 10-
ABSOLUTELY LEISURE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 UDrestrlct•d Unrestiict8d funds funds 2024 2023 Not•s Incom• from: Don8Uons and legacies Charitsble actiwttgs.. LeL8uie advlues Funding income 425,547 429,689 3.682,388 3.698,753 175,440 95,440 Totsl Incom• 4.283,375 4.223.882 Expondtturo on: Charitable aCtItieS 4,264,070 4.346.626 Net •xp•ndlturn for the r1 N•t outgoSng resour 1695) 1122,7441 Oth•r racognlsed and losses A¢tuarial gain on defined baneffit pension 8ch8mes 126,000 1,065,000 Not m)v•m•nt In fund¥ 125.305 942,256 Fund balanc4s al 1 Awil 2023 (809,132) (1.751,388) Fund balan¢gs at 31 Mah 2024 {683,827) 1809,132) The statement of financlal activtties includtrs all gains and losses reDJgnised Sn the year. JI Irtcome and èxpondliure derfve from continuSng acbvilie$. The slatement ol fin8ndo1 actlvttles also ¢omplles with th• roquirements for an ItKs)me and oxpendliure aco)unt under the COMnI$sA¢1 2006. 11
ABSOLUTELY LEISURE BALANCE SHEET ASAT 31 MARCH 2024 2024 2023 Notss Fixèd ass•ts Tangible assets 1.815.169 1.927.838 Current ass•ts Stocks Deblors Ca¥h at bank and in hond 10 11 13.547 145,080 86.558 13,637 206,651 143.609 245,185 363.897 Cr•dltors: amounts lalling du• vthhin on• year 14 (1.344.256) 11,496,824> N¢1 Current IFabiliti88 {1.099,071) (1.132,9271 Totsl •s8•ts l•vJ currgnt Il#bllltl•s 716.098 794,911 Cr¢dltors: amounts talllng du• after mor• than one year 15 11.417.925) (1.626.043) Net •xcluding p?n•lon surplus 1701,827> 1831,1321 D•fined n•fft p•nslon surplu$ 17 18.000 22.000 N•t Ilabllltlo¥ 683.8271 1809,1321 In¢om• funds Unrestricted fund$: Ggngral unrèstrtctad fund8 P¢n$Son reserve (701,827) 18.000 (831.132) 22.000 {683,827) {809.132} {683,8271 (809.132) The financial slaltmts re approvèd by the Twslges on ... Gillan Company R•9lstratlon 06822082 12-
ABSOLUTELY LEISURE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 N¢)ts$ Cash flows from operatlnll •¢tlvltl•s Cash 98nwated from operatlons 198,042 82,551 Investing •ctivltlo8 Pur¢hase oftangible fixed assets 189,8181 155.218) Not ¢ash us•d IA Investing actlvliles (89,818) (55.2181 Fln4nclng a¢tlvltl•s Rgpayment of borrowngs Repayrneftt of bank loans Payment of obligations underfinance1oWS {8.6261 (177.9521 21.303 {19247} (174,590) {61,898) N•t ¢ash us•d In flnancing actlvlti (165,2751 {255,7351 N•t d•¢rwe In ca¥h and ush •qulvalents {57,0511 {228,4021 Ca8h and cgsh equlvalents al b8ginnSng of year 143,609 372,011 Ch and ca¥h oqulv418nts at end ofyw 86.558 143.609 13-
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng poll¢l•s Charlty Informotlon Absolutely Lelsure Is a privats o)mpany Ilmlted by guarantee incoTpor8t•d in England ènd Wales. The reglstsred Offi is The Ar8na, Stafferton Way. Moidenhead, Bert(shlre. SL6 1AY, Unhad Klngdom. 1.1 A¢countlng ConntIon The financlal statèrnents have begn prgpared in accordance wlth the Companles Act 2006 and 'AcUunn9 and Reptsrting by Charitie8'. Stslement ol Recommended Practi applble to chafities preparing their accounts in accordanc wllh th$ Financial Reporting Stsndard applicabb in the UK and Republlc of Ireland IFRS 102) lèffactive 1 January 2019)". The Charitable Company is a Public Bgngfil Enbty as dgfinad by FRS 102. Absolutely Lelsltre meets the ¢Jeffinldon under FRS 102 of a public benefft enttty. The fin8ndal $t8t¢merts are prep8rod In sterting, whlch 1$ tho functional rnn¢y of the Charitsbl& Company. Monelary amounts In these financial ststements are roufided to the neare81 £. Tho financial stat9nts have been pr¢p•r•d under thg histeCal CSt convanljon. The principal accounti poliaes adoplod are set out below. R•ducod Dl8¢losurns In a¢wdanch with FRS 102. Ihe Gharltsbb ComnY nas en auvantage of the exempuons ff[ tF following disdosure requirem&nts'. sect 11 ' Bask FSnanaal Instruments. & Section 12 '0thor Flnancial In81Nml Issues. . Caryi amounts, intertrst incomelexpense and net galn5Iosse8 for each category of finatKial instrum6nt basis lor deteminin9 falr values. Th¥ ffinanclal statements ol the Charltable COMnY ore con30lidatsd in the finandal 8tst8ment of Absolutaty Together. the consolidaled finanaal sts18rnents ofAbsolulely Togsth$r 8ro availabig from its registered offi¢e. The Arerfa, Stsfferton Way, Maldenhead, Berkshirè, SL6 1AY. 12 Golng concern At the tirne of 8pprovlng the flnanaal stst8m8nts and basèd on the 2024r25 ft)r8easts. lh8 TNsts&s hove 8 roasonable trxpaclation that the Charitable Company has adequate resour¢•$ lo continue in operational extstence for tho foreseeable futu. Thus the Truste$$ ¢<wInUe to adopt the going con¢¢m basis of accounting in preparing the financial statements. 12 Charftable funds Unre$trict8d fijnds can be used in accordance wrfh the tharftable objectNe# at the dlscretion of the Tru$tee8. Restricted fvnds are used to a¢LnI for sltuatlons whgro th8 donor requi thè funds must i spgnt on particular purpose. 14-
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ountlng pollcleB {Contlnuod) IA Incom$ l income on th& Statem&nl of Flnanryal AQUtieS is rg¢ognis8d when the Charitabje Company is legally entiU&d to the Income and tha amount be quantffied with ieasonabl& acujracy. Certaln Income Is recgfved in advance of the provision of the relevant 8¢Ni¢¢ and as such 1$ deferred until the commences. Incomo for annual Memb$h1ps Is accoLFnled for over the meMrshIp year. In¢ome from leisuro activlllgs are recognised as th& related g)od and SerVe are e. In¢omo from govomment and other grants ar¢ rwnSsed al fair value when the charity has enM8ment after any performance conditions have been fflet, probabty that thg Ino)m8 11 be rs¢9fved and amount can be measured reliably. If enldement is ntsl met then these #mounts are deferred. Management f••$ are unrestrfcted Incom& whkh availabig for use al the dismOn of the Twstees in furtherance of the g&n8ral objectives ofthe Ch8dty. Govemmenl grants 8re recognised al the falr value of the asset recefved or receNable whon there 15 reosonable a58urani that the grant conditions WIM be met and fv grants will be reLiVad. 1.5 Exp•nqlllurn ExndItUTe is recognised once there FS a 18981 or con5trucfjve obligatin to trdnsf$r economic bèn8fit to third Dath. it is probabt6 that a transfer of econoryuc benefits will b• required in 8ettlèmenl. and the Amount of Ihe obli98tk)n can be Measur1 rgllably. Expènditure is dassffied by aetivlty. The costs of each actNity are made up of the lotsl of direct Costs and sh8red costs. induding supw)rt costs involved in undartaking each activlty. Direct costs allributable to a single activtty are allocated diTgc¢ly to that actiwty. Shared costs which ¢ontribLrte lo more than one adivity and support costs which are not 8ttrlbutable to a single 8cllvlty are apporbongd been th0$0 activltie5 on a basis conslstenl wth the use of r&sources. Central stAff costs are alated on the b8s65 of tlme $p•nt. and dtrpwation chargès 8lkJ¢ated on the porlion of the asset's use. Expendrtur8 is accounted for on an arnuals basis and h$s been cla5ssfth und8r headings that aggreg819 •11 costs retaled to tho category. whe lSts nn01 be diro¢ty attributed lo partilar headings they have bs&n allocated to •dvlti8s on a basis cOnSnt wilh the use of resources. 1.6 Tanglbl• flxed aets Tangible fixsd 0$sgts are initialty m?a8urod al cost and $ubsequenlly measured ot cost or valuoion, net of depreciation and any impainentIO83•8. D$preciation is recognised so as to write off the cost or valuation of a¢ts ths thew rs$idual value$ over their useful liv¢s on foliowlng bases: L&asehold propèrty Imptovements to Property Plont and mathinory 8tralghl Ilng ovgr 2S y8arB $tral9ht Ilne over 4 yers straight lino ovgr 3 year8 or th• Irf¢ of tha lease Th& galn or loss arising on the disposal of an asset is detsmlned as the dIfferen b8hveen thg sale pmceeds and the Cang value of the asseL and Ls recognised In the Statement offin8ncAal activitlès. 1.7 sto¢ks Stcks are valued at the lower of cost and n$t realisable v•lu8. on a firBt4n-fir8t-OUt basis, after moklng duo lowance for¢bsd&te and 81ow movlng stems. 15-
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accoynting pollclès ICoThtlnuedl 1.8 Cash and cash oqulvalents Cash and cash equivortts indude cash in hand. deposits held ot call vAth banks, other short-tsm Ilquld inveslmonts wlth original maturrknos of three rrKJnlhs or less. 1.9 Flnancial inxtrum•nts The Charitable Company has elected to apply Ihe pmwsitins of Section 11 '8a51c Flnandal Instruments, and Section 12'01her Fin8nct¥l Inslwmenls Issues, of FRS 102 to all of ts finanaal instrurr@nts. Finandal assets and liabilllles are recognisod when th8 Chafilabb Company becomgs a party to tr ¢ontractual provisions of tho instrument. and arè offset only when the Charilable Company currenlly has o gally enforceable rigm to sel off the reu)gnlwd amounts and tends ¢lther lo selllo on a net basis. or to rodl$8 the asset and selllg thè liability sirnultsnèousty. Fln8n¢lalass•ts •ndM&bllhl•s The Charitsblo ¢panS debtors 8nd credltors that meet the definttion of tsither 8 fin8nrAal 8sset of financAal liability atè Initsally recognised al the transaction value gnd thereafter arg staled at am0$&d cost sulng the effectN& Intarast melhod. 1.10 Employee ben•fft8 Terminatéon beneffts are Tecognls&d Immedialety 8$ an expense when the Charitable Company Is &rnonslrabty committg¢J io tsmiina* thtr OmpyMenl of an eMpl0c or ID priwlde I¥Tiiiiiialioib bon1•. 1.11 R•tlrement beneffts The Charitsbl& Company operalgs a d8ffined contribution penSn SCI$ Contributions pgyabl8 to the Charitable Company's per&sion sth&me ore charged to thg Statement ol Finandal Activlties in the period to which Ih•y reiatg, The Charilablg Company has also 8ssymed resF¥)nSlbty for a pension schgme prov¥Jing bonefits base on nal pensionable pay. Contributions to Ihe defined btsn8fft scheme are charg•d to Income and expenditure in order lo allocation the cost of providing the pensions recognising any actuarial gain or loss (whère appropriate}, ovar the worktng t$ of the relevant employees as assessed in 8euJrdance with the advice of a ofe88ional quaIrfd actuary. The LGPS Is a funded multi-wnployar scheffle and thg assets are hold 5èPorately from those of tho Charftsble Company in separate Trustee adminislereil furKls. Pension sthemg assets are m9asur8d al fair valve and Ilabiltttes are measured on an actuarial basis uslng the projected unit ¢redit rnelhod and dISnts at a rate equlvalent to Ihe curr¢nt rate of ietum on a high qualty c¥)rporate bond of equlvalent lerrn •n(I currency to the liabilitie5. The 8¢tuarial valuatic¢ns 8re obtained at 18a5t triennially and are upjated al each balancè shaat date. The 8mounts charged to oper3ting surplus are the rrnt service costs ond the costs of sGheme introdu¢tion. benefit charges. sewements and wrtallments. They are Indudad as part of staff costs as incajrred. Net Interest on the n•1 d¢fin8d benefit Ilabditylasset Ss also deffined bènefft obligation 8nd intere81 income on scheme assets, 1lated by mUpIn9 the falr value of the s¢heme assets at the beglnnin9 ol the period by the Tate used to discount the benefft Obl1ga0n$. Th8 dIfferen been the Intest incomtr on thg sthèmo assets and thg a01 r8tuin on the assets 13 r•¢tsgnised in other rownL$8d gains and10sw. 16-
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aceountlng policio• IContinu•dl 1.12 L••8•8 Assets obtsln8d under hirg pur¢h8s8 contracts and finance leases #rè ¢apftali8ed 8$ langible fixad assets and depreciatsd ovgr the shorter of the lease term and thelr (wful live8. OblKJaUons UnLJgr $uc agr•omènts are Indud8d kn ¢roditors net of the finance charge allocatod lo future periods. The finance elernenl of the rentsl payment is ¢harged to incom& and expenditure $0 as lo pmduce a n$tyt P8ric4lc rate of charge of the net oblvJation outstanding In each pgrlc¥J. Rentsls payabltr under operating le8s&s aro charged as an oyponse on a stralghl lin? bosls over tho loose tgrm. 1.13 Irr•covorable VAT VAT on rèv8nuo expenditure which can not be rècov6red is charged as a separate st to the Statement ol Finanryal ActSvities. VAT on ¢#pltsl expenditure whlch can not be recoverod is cawtali50d as part of the Gosl tsf acquiiing the relevant &eL Crttlcal a¢¢ountlng •$tlmat•$ andJudggm•nts In the application of the Charitablo Company's aceounting pol1. the Trustees are requirgd to make judgements. gsumates and as¥umpUons about ¢orrying amount of 8s$ets and liabilhies that are not readily apparent from other SOUTces. Th& osumates and 8ssocialed a3sumptions are based on historical expeiience and othrfaGtor* that are coN$idered to bo rclevtsnt. Aottjal reButtÈ may dlffwfrom th•$• ostimatgg. The estimates 8nd uftderfwng assumptions are r8viÈwed on an ongoing basis. Revislons to aUntIng estimates are r•eognised in the perfod In which the $stlmate Is rewsed wh&re the revision affects onty that period, or In th& pgrlod of thg revision and future n(¥$ where the revision affects both ¢Ltrront and fuiLtre periods. Crllkal ludg•m•nts L•ases In catsgorising leases as ffinance leases or operating leases, management rnake$ ludgements as to whether $1onhlcant rL8ks and rewardg ofownership have transferred lo the Charitable Company as Se88ee. Koy sour¢•8 of Mtlmatlon unc•rtqlnty C¥rryinu value of and IlabllStl•s The Charitable Company makes èstimates and assumpth)n$ cnnceming th& fulvre. Thg resulting ac¢ountiThJ stlmatss and 8$$umpJons will, by dnItIon, sddom oqual the refate<l a¢lual results. The esllm#tss and a$sumption5 that have 8 8ignfficant risk of Cousing a motorial Adjustment to the carrying amounts of assets and118billties withln th• noxt finandal year. The present value of the Local Gtsvtmment Pension Schem& deflned benefit IlabS1ty depends on a number of factOf5 that 4r9 dgt•milned on an ¥ciuartal ba518 u$lng a variety of a55umpts'ons. The assumptions us8d in deternining tha net cKJst OT incom• for pènsions Sndudè th• discount r819. Any changes in these assumplThg, vjhlch ar& di8¢108gd In note 17 will impad the caYIng amount ofthe pgnslon lthility. 17-
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donatlons and Jega¢l•s 2024 2023 Government 8nd other grants Donation from felh)w group companyAbsoJutety TogetherTradlng Ltd Other donations 60.300 333.490 35,899 326,741 26,806 425,547 429,689 The income from donatlons of £353,547 P023: £369,389) was 811 UnStrIcted. They 8180 recelved a grant of £72.00012023'. £58.0001 relate5 to a grant re¢éNèd from th8 parent ¢horSty, Absolutely Ttsg&ther. There werè no grant Ino)me rolatin9 to local auth funding In the period. Charftabk actmtI. L•l¥yr• M*nag•m•nt Tolzl L•l8ur• Manay•m•nt 2024 ath5t1•8 fe08 2029 2023 2024 Charitsble actMti&s 3.682.388 175.440 3,857,828 3.698.753 95.440 3,794.193 Tho Income fTom ch8ritsbÈo actiwties of £3,857,828 {2023.' £3.761,682) was 011 unrestr6¢ted. 18-
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charhable act5vhl•$ Dlr•ct Costs Support Totsl Dlr•ct Costs 2024 Support Costs ZDZS Total 2023 2024 2023 staff costs Deprso8tion Overheads 1.591,972 1.591.972 202.488 1,617.731 1.617.731 231.943 202,488 231.943 76,714 2.159.688 2,236.402 214 214 13.253 13,253 46,929 46.929 27.206 27.208 85.602 2,133.710 2.219,312 1.966 11,241 50,931 28,415 Lea80 Charyes Othar Loan Interèst Bank Charges Legal and ProfelOn81 Defined Ben&fil Pension 11,241 50.931 28,415 130.000 12,284 130.000 12,284 143,000 20.087 143,ONJ 20.087 Consultoncy Gov•m•nc• costs Auditors Remunerat 23.320 23,320 22,000 22,0) 1,668.686 2.615,384 4.284.070 1.703,333 2,643.293 4.346.626 Th8 èxpenditure on ch8rltable acbvitie8 of£4.161.070 (2023: £4.346.6261 was all from unreslriLtsJ funds. Tru$ts•s Thè TrLtrStee5 did ntst rèc8Ne any TemuneT*lon during the ye8r ended 31 Marth 2024 {2023'. £nlll. There were no Twstees. expgns¥s paid for the year endad 31 Marth 202412023.. £nil). Employ••s Th• average monlFty number of employees dutlw tha year was: 2024 Number 2023 Number Leisure odivrfies 101 Employmofbt costs 2023 Wag8s And salaries Soaal secudty ¢osts Other pension costs 1.422.547 99,875 69,550 1.464.300 96.675 56,756 1,591.972 1.617.731 19-
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 EmployMs IContlnu•dl Th numbor of empbJye88 whoso annu81 ramunerauon was more than £60.000 1$ as follows: 2024 Number 2023 Number £90.001- £100,000 Th8 remunerath)n of kgy management personnel 1$ £123.96412023: £114.1061. Taxation No liabitity lo UK rpOratIOn tax aroBe on ordinary activlugs for the y8ar ond8d 31 March 2024 or tho year ended 31 March 2023. Tng1b tlxod ats L•auhold Imprgv•rnents Plant4nd prop8ty to prop•rty machln•ry Totsl At 1 April 2023 Addltion8 1.831270 603,782 2.933,136 89.818 S.369.188 89.81B At 31 Marth 2024 1.832,270 603.782 3.022,954 5.459,006 Depreclatlon Ind Imylrm•nt At 1 April 2023 DeprecAalion ch8rg8d In the year 329.808 73.291 603.782 2,507.759 129,197 3,441,349 202,488 At 31 March 2024 403.099 603.782 2.636,956 3.643,837 Cany*ng amount At 31 March 2024 1.429,171 385,998 1.815,169 At 31 March 2023 1.502,461 425,377 1.927.838 The net caTryiny v81ua of tangible fLxed assets i1ld$S the following in respgei of assets held under finance teases or hirè PLtrchase contracls. The depr$aalfion charge in respect of such ossets amounted to £38.658 12023- £57,679) foi the year. 2024 2023 Plant and ma¢hinery 84.645 55,987
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Stocks 2024 2023 Finlshed goods and goods for resalg 13.$47 13.637 11 Debtorn 2024 2023 Amounts falling du• TAthln on• yoar. Trade debtors Amounts owèd by fellow group un¢JtrtakJng$ othor debtors Prepayrnents and aecrued incomè 16.283 7.752 38,4C>O 16,649 143,850 7.610 121,187 145.080 206,651 12 Loan¥ and •v•rdrafts 2024 2023 Bank loans Other k)ans 1,406.407 1.684,359 8,625 1,406.407 1.592,984 Pay8ble wilhin one year Payable after one year 180,274 1,226.133 186.147 1.4(,837 Amounts indLtded 8t)ve vthlch fall due ofterfNe years: PayatAe by inslalm8nts 7,875 950.518 The ftnanee lease liabilities of the Charitable Company. £52,690 {20rJ= £43.973} of which tsll due in less than on8 year. wlth £55,12512023.. £42.539} falllng due in more than one ygar. are secured ovèr the assots whlch fom p8rt of the financelgaw agr8emenls. The bank loans of £180.27412023- £177,522) within one year and £1.226.13312023'. £1,406,837) after one r are 8ecurod by way of a fixed and 1108n9 charge, In favour of Nath)nal Westminster Bank Plc. over thè ossets of tho Charltabl8 Company. The loans of £Nil12023'. £8,625) thIn rjne year and £Nil12023.' £Nill after on• year are 89cured by way of 8 fix&J and lloatlng char, in favour ot Asset Advantwje Limited and Loulse Cox, ovor th& assets of tho Charitable Company. 21
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Flnance le• commltsnonts Future mlnimum lea8e paymonts du8 und8rfinance tgWS.' 2024 2023 Withln one year Within Iwo and five years 52,690 55,125 43.973 42,539 107.815 86.512 14 Crodltorn: •IUnts falling duo withln on• year 2024 2Q23 Bank loans Obligations under finance lease$ Other bOrrn$ Other t&¥abon and sodal security Deferred in¢ome Trade Lyedilo Amounts owed to fellow gTOUP undertangS Oth$r ereditors AcCalS 12 13 180.274 52,690 177.522 43,973 8.625 61.241 424.138 434,397 50.335 254,594 384.689 36.676 70,398 314.620 16 71,593 275.335 1.344.256 1,496.824 15 Cr•dltorn: amounts falllng du• thr more than on• y•ar 2024 2023 No*•• Bank loans obl80n$ uThJer ffinan leas05 Olher credito 12 13 1.226,133 55,125 136,667 1.406.837 42,539 176.667 1,417,925 1.626,043 16 D•f•rr•d incom• 2024 2023 Arising from grants AJising from block bcokingslev•nts 110.752 143,842 190.752 233,386 254,594 424,138 -22-
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 D•f•rr•d Incom IContlnu•dl 2024 2023 Deferred inrne Is indLJed wlihln.. Curr$nt liabllibes 254.594 424.138 Movements In the year Deferred incomg at l Aprfl 2023 Released from pr&Mous periods Rosour¢es deferred in tho yoar 424.138 1313,3861 143.842 444.972 1254,2201 233.386 Dofsrrod IncorrE al 31 Mr¢h 2024 254.594 424.138 Def$rr¢d Income related to advanco payments for blo¢k t)Ehg3lev9nts al the siles that r8lated to fvre dates. The dard inc£Jme on thg grant relatss to 8 fin8ndal grant from Absolut9ty Togethgr for Ihe delivary of vadous programmes overtho ngxt yaar. 17 Retlrem•nt bgn•fft sch•me8 Dèfined contrlbutlon sch•mg¥ The Ch8rftable Company operates a defined contribullon pension schemo. The contributions payablo durfng thè year gmounted to £40,00012023'. £30,022). At 31 March 2024 fhare w?s £3.171 12023.. £2.4131 owing to thè $¢h•me and thi5 18 indu¢J¢d within other credttors. Tho nsIOn contributlons and Ilabilty is all allocated from unrestricted lund$ which is th$ only fund basis of the Charfty. D•fln•d n0fft schgm•$ Keyassumptlons 2024 2023 DiseAiunt rate Expected rato of Incr& of pensions In p8yYnont Expe¢tad rale ofsalary irw8ases
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Retlrornent bon•fft $ch•rn {Conllnuodl Mortalty assunlptions Tha #ssumÈd Itfe exped#tS on retirement at ooe 65 are: 2024 Yoars 2023 Years Retiring today - Males - Females 20.8 23.6 21.1 Rellring 20 yea - Male¥ - Females 25.0 Amounts recognlsed In the prollt and loss a¢counL' 2024 cunt semce co81 Net interest on dèfined benefit li8bilityl{assel) Other costs and Income 61,000 13,000} 1,000 164,000 23,000 Total o)sts 59,000 188,000 Am¢unts taken to other cOMprnnSNe InMe. 2024 2023 Aclual retum on %heme a88ets L¢ss: calcuLqt8d intere51 dsmont 1127.OQ)) 69.0 165,000 39.000 Roium on schome as8ets excludlng Intere81 iFKoma Actuarial changes rèlated to obligation$ Effects of changes Sn th8 amount of surplus that is not re¢overable {58.0001 204.000 {68.0001 {1.269,0001 123.000 Total costsllln¢oms) {3,0001 {1,C65,000} -24-
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 R•tlr•m•nt b•nefft seh•m•s IContlnu?d} The amounts In¢lud•d In the balancs shegt arlslng Irom th? Charltabje Companls obligations In respgct of defined benefft plons are as folkJw5'. 2024 zoz3 Present value of defined benefit obli9atior F8lr valu9 of plan aets 1,452,000 1.371.OfrJ 11.593,0001 {1.393,OTrJI Surplus In schem& 1141.000) 122.000) RostrfcJon on scheme 88s&ts 123.000 Totsl asset rewgnlsed (18.000} {22.0(KJ) Movements in the present value of defined ben8fft obligations: 2024 Liablllues al 1 April 2023 Current seM¢o cost Ben&fits paid Contrlbutions from scherne membern Actu8rfal oalns and losses Inlerast cost 61.OCrf) 18,0001 30,000 I68.0)) 66,OC#) At 31 Mah 2024 1,452,000 Th$ defined benefit obllgations aris8 from plans which are wholly or parfdy fundgd. Movements in the fair valu8 ol plan assgts: 2024 Falr value of assets at 1 April 2023 Intgrest Income Relum on plan assets lexduding amounts induded in n¥t interest} B&nefits pald Contslbutlons by the emplwr Contributlons by schèmè mombers Other 1.393.000 69,000 {8,OCIJ) 52.000 30,000 I1.0) At 31 M•r¢h 2024 1.S93.000 -25-
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Retlromont b•n•fft schomo5 (Contlnu•d} Th¢ fair v8luo of plan a&8ets al the report1j pgrlod was a$ follows: 2024 2023 Eqiwty inslrumgnts Debt Instruments Property Cash Infrastnjcture Longevity insurat 1,095.000 209.000 145.0 15.0 2(K),OCMJ {71.0001 874.000 202.000 176,000 21.000 192,000 172.0001 1,593.000 1.393,000 18 AnalysSs of n•t 4$$ots b•lw•on fund$ Unrnstricted Unrestrbcted funds funds 2024 2023 Fund balances al 31 M8rth 2024 are represented ty. Tangible assets Currgnt assgtslOiabllTbesl Long tenn liabilitie8 Provisions and pensions 1,815.169 1,927.838 11.099,071) (1.132.927) 11,417,925) {1.626,043) 18.000 22,000 {683.827) 1809,132 19 Operatlng l•a80 ¢ommllm•nts Al the reporting end dale th& Chatabl9 Company had outstanding commitments for future minimum lease paymonts und9r nortrcancellabl¢ opardung leases. whith fall due os louows: 2024 2023 Withln one year Behyeen and fiv¢ y8ars In over fivo yo8 555,632 1.416.114 532,242 2.048,960 117,991 1,971.746 2.699,193 20 Rglatgd party trarCtiOna During thg y•aT, Absolulgly L8isur8 r8d•v8d £120,000 (2023: £38,400) from Dacrwm Spts TrusL another subsidiary ofAbsoluloly Together. for the support So1¢$ provlded In t p¥riod. -26-
ABSOLUTELY LEISURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Uhlm4t• Pornnt und•rtaklng and controlllng rnlat•d party The ulbmAte parent company Is Absolsjtety Together. a company limited by guarantee and ino)rpor8ted in Groat Britain by virtue of b8ing the sole member. Company Registration No.. 08466394 and Registsred Charity No.. 1152093. Thls is the smallest 8nd largest group to CA)nsolidate iinanciai ststsmènts. Cople8 Dr the financial statsment cars be obtaird from The Arena, Staffertors Way, Maidenhead. Bedhlre. SL 6 1AY or on companies house webskn I.MpanIeshovs8.YQ¥.U The Tru5teos eonsidw the Board of TNstses of Absolutety Together, a wmpany limitgd by guarant••. to be the ultlmal¢ ¢ontrolling party. 22 Umlt•d by gu•r•ntse The Charity is a ¢panY Ilmll¥d by guorante8 and has no share capital. Ilability of ¢a¢h membor In the event of winding up Is limited to £1. 23 Cash g•nerated from operatkn 2024 2023 (Dèficitysurplus for the year (8951 (122.7441 Adiustrnwts for D8precialfion and impaimonl of tangible fixed a$sots DifferencE b8tsv8en nSIOn charge and cash contribulions 202.488 130,000 231,943 143.000 Movements in workin9 capltal.. Decfeastrl(inmsel in stocks DSellIncre88eI in debtors IDecre8sè1 in rxeditOTS IDo¢wasel In deferyed inc¥) 90 61,571 125.8681 (169.5441 11.650} 191,9701 155.196) {20,834) Ca•h g•n•rAted Irom op•rotlons 198,042 82.549 24 AnalyJl8 of chang•s In 1 Id•btVfunds At1 Iprf1202J Caghfflo¥MAt31 Mw¢h 2024 Cash ot bank and hand 143,609 (57.051} 86,558 Loans falllng du& thIn one year LOar falling due after morè than on8 year obgatiOnS underfinonce leases (186.1471 (1.406.837) 186,5121 5,873 180.704 (21,3031 1180.2741 (1.226.133) 1107.815} (1,535,887) 108,223 (1,427.6641