Cha￿ty rnu1strn￿0n 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$rtim Way Maldenhead Befkshlrè Unltad lfjngdom SL6 1AY Audltor tsAudil S0￿Ces Gladstone House 77-79 High Strèèt Egham Surr¢y Unitsd lfjngdom TW20 gHY ABSOLUTELY LEISURE CONTENTS Pag• Trust88s rnport Indtrwndent auditorfs report 8-10 Statement of financ4al 11 Balance shgot 12 ststemont of cash flow8 13 Notes to the financ4al statern•nts 14-27 ABSOLUTELY LEISURE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustsés pr¢senl th&Sr annual report ¥nd finandal stalom•nts for Ihe year endad 31 March 2024. The Truste&% confim that thay compty wilh thè requirerngnts of the Charitw Act 2011. a3 am8nded by tho CompaniesAct 2006, thè Mèmoiandum and Artkjes ofA88(thfjon and the Charilios Stslgmenl of rocommend Prn¢Uce {SORPI 2019. Ob￿CtIV0* and a¢tl¥lll•$ 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 sp￿181 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 $&2ff report a feollng a positsve engagèment in the work of the tharity. Throughout thè Ihe Chaiity Sta￿ wlthin it5 finand81 obkn'gatio￿ to th& Nalw8sl and rt15 pleasing Ihat surplus hhs been achieved for the fin8ndBI year. The Charity r￿fves no toC81 autthjity or govemmenl fundlng and relitis on grants and donations to support its programmss. Wlthout thls support, th8 Charity would not be able to d¢lwèr the breadth and x8le of a@ivlti&s to its benefi¢iarfes. During last yearthe Charity received grnnts and donations lotalliThJ nearty £f.000. Flnanclal t•vi•w TrUs￿S are pleased to report thatAbsolutety L•lsure has mad? a surplus for th8 thlrd yo8r In successlon. Cash Ilow ￿thin the Charity r￿aInS well managed. and atthough the￿ are dip3 In cash llow through￿￿ certair) polnts, the Charity ha3 nol ng8(led to use Its ovordraft faalty. A Sigrtfflcont challenge throughout 202314 was th& Impact of the N8tiono1 Mlnlmum Wage. The Charity wes ab to award all staff not rec8iving mSnlmum wage Incrèases, an 8nr>u81 Increase in pay of 2.5%. Whllst thls wa$ 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 infO￿nall0n 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$ad and to en5ur• appropriate conlrds are In place lo pro￿de r&asonable assurance agalr￿1 fraud and error. The Boafd membgrs Cf)nflmi that the major risks to the Charity have been r8vi•wed and that systems or procedures have b&en esiablisned w manage tnose rfsk5. ThE Board [JfTruèl￿s Ivvit*• and updatos the Risk Rogi?ter at evary Board Meetsng 8nd mgnagemenl work to mltigale risk8 id8ntifi&d. Of the most recent emor9lng risk. the impact of the National Minimum Wage continues to be a focu$ of ManagernenL Iwklng at ways lo work dTrTerenlly to absorb Ihe8e Sion￿OnI 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 OU￿1￿ 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￿ add￿0nd 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 mee￿ngS 6 tlmes durfng tha year to overs&& the managem$nt and admlnistration of the Charity, and to ro￿l¥e rogular updates on varfous aspects of the Chaws acbvitie5 from the Managernént Team. Govomlng d*xumgnt Thp Ch8ri1oble Company is controlled by Its govemlng document. a dgad ot trusL and constitutss a limit8d mpany, IlmSted by guaf8nteg. as defined by thg compan￿SAct 2006. Thè Trusts•s, vtho are also tha dSroctors for thè purpose of company law, and whts s¥rved during the yeor ond up to the date of signature ofth8 ffin•ndal statements wore.. J H Gillan A C Taylor J E Bloekbum B E Edwards D J G#l&Page D V Gregory {Rgslgn8d 4 April 2023} {Resignad 4 April 2023} IRe51gned 20 Febwary 20241 Recrultm¢nt and appolntmgnt ot n•w Trustee In exefcisin91ts powers to nominate, appolnt, roappoinL doct, ￿e1￿¢t. gpsxove and dismlss membgr, Ihe members Shall seek lo ensurè that the board is representative ofthe local communty and also comprises persons ￿th a rangs of skills who ar• lik&ly to contribute to Ihe Charitys suc¢¢ss. ABSOLUTELY LEISURE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 8o•rd memb•rn Induction and tr•lnlng New Trust&&$ 8rg Invlted lo attend and observe at least 2 Board Meeting8 b￿tsre confirmlng tr¢glr 8￿P18￿Ce 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$ponslbilrtses und¥r Charfty and comp8ny law. The induction VAII norn￿1￿ Indudo: Meeting with the Chalrman and the Board and the M8n8glNJ Director Tour of all fad1￿&S ad an opportunlty to meet statr, Receive ￿pIeS of the Charity$ Nl8S: Receive ￿Pi￿S 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 appolntemmAg At (IVAry tsnÈ of our venu8s. 85 well as working with partners aw$$ tho L¥)mmunrty to promdè greater accoss to our target benefi￿ari￿. During the year the ch8rity continugd to develop its business operations and to grow on what was 8 very positive previous year. The e¢¢nomEc environment contsnued to be probl$m8tlc for all busingsse$. and charitie$ esped811y. The Impact of the war In Ukraine forced utilty costs to'skyrod(et'. this impact lagoed due to the fixed contracts that chartty had èntèrèd before the conflict. The annual incrèas• in the National Minimum Wagg continues to Impact thg tharity. and while th8 Govemfflgnfs inlenlion is1gudabla. It does add a hug& Strain to the financ*s of the charity. l am pl$asgd to stale that the charity is robust ertough to weather thesè varfous extemal pressures 8nd Con￿n￿8$ lo provldè Invaluable advities for chlldren wlth add￿Onal ng8ds. and Ihgir famillès. We continue lo èxpand OUT programmas and our ambit¢on8 and in th• coming year 8r• aiming for a 25% In¢reose in ac*vibo8 - d81ivering 50.000 Smlle octiviti&s in the communlb'es we seNe. It rernains our Sntention to focus on ¢hlldren with additional needs. o)nlinually and pemmnenuy. and to fvrther embed'Ab8olut81l Into every community wg work In- pulling SMI￿ on faces. and my fellow Trustees. would like lo thank th& staff of thè Charity. our Btaksholders and of cours& our customers, for Sypporting Absolulety Le nd making oui work possible. JaG￿e Qillan Chalr ABSOLUTELY LEISURE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Publlc B•n•flt St*tsm•nt The Tnjstees o)nfim that th8y have referTed to thè guidance contalnod tho Charfty Commlssion's gongra guldance on publ5¢ bgngfil whon revlewlng the Chari￿$ alms and Obl￿tiveS, and in planning fulure acb'wli$$. Ab4)lutely Togèth&r programmo6 provld• fr•• l•lBur• advlti•s to bc81 famill&s that hAVA thildrÈA wNh addilitsnAI n8ed5. Th$s& faMil￿S are iecognised as oftèn facing the most challeThJ&% accessing leisure for rnany rea50n$. 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 b0￿Ing. karting. climblng. s￿MmIng. thèatro visits, visits to local attraction¥. gym us6. and trlps to the lo¢al un$m8. Through our Absolutely Together adv1￿9$, we ￿n￿nue to support families with childr8n who havg addit￿ne1 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 th￿r 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 To￿therK8rtlry We now opgrate our Togeth8T Karting pr￿j￿mm0 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 I￿al 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 ourslud￿ts'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)n￿nue our 1,IKKI8 of Smith progrnmme In Buckinghamshire. We PLtrchase vouchers at 8 discounted rats from various lelsufe fadlwes across tha region FKI ￿￿1r￿L￿1¥ 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 s1xry￿KYnlh 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 pa￿dpants 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 Cl￿dren 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 th￿8 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 Stati￿CS 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 e￿ri￿nCe 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 add￿onal 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•￿ r￿pOn$1b1llllo8 The Tnjstees. who 8re also the directors of AbsolL*tely 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 GenerallYA￿pl8d 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 PreP￿ing 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• Cornp*ny 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 cortfim￿d t￿t 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 infomi0￿on and to estsbllsh that Ihe auditor b aware of infomialion. Audltor In 8￿rd#nett with the compan￿8 8rtides. a resolulic+n proposing lhatA￿tsAudIt 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 ACc￿rt￿n9 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 fU￿11•d our oth•r othlL>l rsgpongibilltl&q in Aernrdance with thèse requirements. We believe th91 the audit ewdenco ￿ have obtai￿￿ 1$ $(rf￿ent and approprlats to provide a bBsis forour opinknn. Concluslons r•Fallng to golng ¢onc•rn In audlting tho finan￿￿1 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 I￿e1ve 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&Spon￿ble 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 othe￿iSe 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 knth￿8dge 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 r￿Ing 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: ad￿uate 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 rece￿d 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 p￿pare 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 n￿Ssary 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 to1*4UKlate the charftablo c￿mpanY 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 eCor￿￿e d8dslons of us8r5 taken on the basis of these finanaal $tst•ments. A fvrther descdplkjn of our respon￿b}ll￿O$ Is aVaIlab￿ on Iho Ftnancial Rgporung CounrAI's ￿bsIte at.. httysjl W.frC.org.u￿auditorSresp￿sibil1Iie5. 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$, ineludlng fraud Irregularltiès. induding fraud, are Instsnces of nonvcompliance wth laws and regulatlons. We deslgn proc8dures in line wlth our responsibilitie8, oudlne N¢1 Current IFabiliti88 {1.099,071) (1.132,9271 Totsl •s8•ts l•vJ currgnt Il#bllltl•s 716.098 794,911 Cr¢dltors: amounts talllng du• after mor• than one year 15 11.417.925) (1.626.043) Net •xcluding p?n•lon surplus 1701,827> 1831,1321 D•fined ￿n•fft p•nslon surplu$ 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 C￿h 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 Con￿ntIon The financlal statèrnents have begn prgpared in accordance wlth the Companles Act 2006 and 'AcUun￿n9 and Reptsrting by Charitie8'. Stslement ol Recommended Practi￿ appl￿ble 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 stat9￿nts have been pr¢p•r•d under thg histe￿Cal C￿St convanljon. The principal accounti poliaes adoplod are set out below. R•ducod Dl8¢losurns In a¢wdanch with FRS 102. Ihe Gharltsbb Com￿nY nas ￿￿en auvantage of the exempuons ff￿[￿ tF following disdosure requirem&nts'. sect￿ 11 ' Bask FSnanaal Instruments. & Section 12 '0thor Flnancial In81Nm￿l 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 COM￿nY 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$$ ¢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 1108￿n9 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: •I￿Unts falling duo withln on• year 2024 2Q23 Bank loans Obligations under finance lease$ Other bOrr￿n￿$ Other t&¥abon and sodal security Deferred in¢ome Trade Lyedilo Amounts owed to fellow gTOUP underta￿ngS Oth$r ereditors AcC￿alS 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 obl￿8￿0n$ 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 in￿rne Is indL*Jed 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 M*r¢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 fv￿re dates. The d￿ar￿d 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#t￿S 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 cu￿nt 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 cOMprn￿nSNe In￿Me. 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 a￿ets 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 Ma￿h 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 report1￿j 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& Cha￿tabl9 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 trar￿CtiOna During thg y•aT, Absolulgly L8isur8 r8d•v8d £120,000 (2023: £38,400) from Dacrwm Sp￿ts TrusL another subsidiary ofAbsoluloly Together. for the support So￿1¢￿$ 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 obtair*d from The Arena, Staffertors Way, Maidenhead. Bed*hlre. 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 D￿￿SellIncre88eI 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 ob￿gatiOnS 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