**Charity registration number 1131013** **Company registration number 06822082 (England and Wales)** ## **ABSOLUTELY LEISURE** **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **ABSOLUTELY LEISURE** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** J H Gillan J E Blackburn D V Gregory **Key management personnel** G Sinclair (Chief Executive) **Charity number** 1131013 **Company number** 06822082 **Registered office** The Arena Stafferton Way Maidenhead Berkshire United Kingdom SL6 1AY **Auditor** Azets Audit Services Gladstone House 77-79 High Street Egham Surrey United Kingdom TW20 9HY ## **ABSOLUTELY LEISURE** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 6| |Statement of Trustees responsibilities|7| |Independent auditor's report|8 - 10| |Statement of financial activities|11| |Balance sheet|12| |Statement of cash flows|13| |Notes to the financial statements|14 - 27| ## **ABSOLUTELY LEISURE** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ The Trustees present their annual report and financial statements for the year ended 31 March 2025. The Trustees confirm that they comply with the requirements of the Charities Act 2011, as amended by the Companies Act 2006, the Memorandum and Articles of Association and the Charities Statement of recommended Practice (SORP) 2019. ## **Chair’s Report** This report covers a period of April 2024 to March 2025 During the year, I am delighted to report, we achieved our primary target by delivering over 50,000 Smile activities for children with additional needs and their families. We now run regular programmes at each of our eight venues and work with leisure partners across the community to increase access for our beneficiaries. Activities were provided across Bristol, Buckinghamshire, Berkshire and Hertfordshire, positively impacting the lives of those who need them most in these communities. During the year the charity continued to develop its business operations and to grow on what was a very positive previous year. The economic environment continued to be problematic for all businesses, and charities especially. The annual increase in the National Minimum Wage continues to severely impact the charity, and while the Government’s intention is laudable, it does add a huge strain to the finances of the charity. I am pleased to state that the charity is robust enough to weather these various external pressures and continues to provide invaluable activities for children with additional needs, and their families. We continue to expand our programmes and our ambitions and in the coming year are aiming for to increase our reach by providing 60,000 Smile activities in the communities we serve. In the coming year, we will broaden our work into surrounding communities, while continuing to focus permanently on children with additional needs. Our aim is to embed Absolutely more deeply within every community we work in, working with partners, and ensuring we keep putting smiles on faces. I, and my fellow Trustees, would like to thank the staff of the Charity, our stakeholders and of course our customers, for supporting Absolutely Leisure and making our work possible. Jennifer Blackburn Chair ## **Objectives and activities** Absolutely Leisure is a wholly owned charity that exists to provide or assist in the provision of facilities and services for recreational or other leisure time occupation in the interests of social welfare. Such facilities being provided to the public at large save that special facilities may be provided for persons who by reason of their youth, age, infirmity or disability, poverty or social or economic circumstances may have need of special facilities and services. Additionally, the Charity aims to promote and preserve good health through community participation in healthy recreation and / or such other charitable purposes beneficial to the community consistent with the objects of the charity. ## **Achievements and performance** The Charity is very proud to have weathered the unprecedented turbulence of the last 4 years. And although these turbulent times look set to continue, the Charity is in a stronger and more resilient place than it was 4 years ago. During the last year the Charity met its target to provide over 50,000 Smile activities to the communities it works with. We now provide regular school curriculum activities to 9 SEN schools. - 1 - ## **ABSOLUTELY LEISURE** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ Staff retention is among the highest in our sector and staff report a feeling a positive engagement in the work of the charity. Throughout the year the Charity stayed within its financial obligations to the Natwest and it is pleasing that a surplus has been achieved for the financial year. The Charity receives no local authority or government funding and relies on grants and donations to support its programmes. Without this support, the Charity would not be able to deliver the breadth and scale of activities to its beneficiaries. During last year the Charity received grants and donations totalling nearly £35,000 including a 1 off donation of £10,000 from an individual donor. ## **Financial review** Trustees are pleased to report that Absolutely Leisure has made a surplus for the year. Cash flow within the Charity remains well managed, and although there are dips in cash flow throughout certain points, the Charity has not needed to use its overdraft facility. A significant challenge throughout 2024/5 was the impact of the National Minimum Wage. The Charity was able to award all staff not receiving minimum wage increases, an annual increase in pay of 4%. Whilst this was below inflation staff were understanding and grateful for the increase. ## **Reserves policy** The Board has an aspiration to increase its reserves to a level of £250,000 over the next 4 years, whilst recognising that during these extraordinarily turbulent times maintaining a consistent reserve will be challenging. ## **Pension costs** Trustees are aware of the pension information required to be included in the statutory accounts. The pension referred to is a Local Government Pension Scheme (LGPS) for a total of 8 employees who have previously been transferred from the local authority. The scheme is underwritten by HM Government. Trustees understand that the calculations required to be used for statutory purposes are notional and represent only one view of the pension fund, as directed by the FSA. In contrast the latest actuarial review from the Fund Managers appointed actuary, Barnet Waddingham, shows an alternative position - the fund is in surplus and employers’ contribution for the next 3 years are static ## **Risk management** The members of the Board have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Board members confirm that the major risks to the Charity have been reviewed and that systems or procedures have been established to manage those risks. The Board of Trustees reviews and updates the Risk Register at every Board Meeting and management work to mitigate risks identified. Of the most recent emerging risk, the impact of the National Minimum Wage continues to be a focus of Management, looking at ways to work differently to absorb these significant costs within the normal operating costs. ## **Plans for future periods** The Trustees have committed to growing the reach of the Charity and to delivering the programmes of Absolutely Together in every community that the Charity works in. Additionally, the Trustees want to continue to offer ‘enabling support’ to complementary community groups and charities using our venues. - 2 - ## **ABSOLUTELY LEISURE** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ In April of this year the Board approved a revised set of outline strategic objectives for the Charity for the next 5 years. These include: - Growth of our Smile programmes to neighbouring communities - Further development of our Work Placement / Experience programmes and extend our target beneficiaries to include young adults with additional needs - Greater partnering with leisure providers to support our Smiles programmes - Retain key contracts and leases - Redevelop Maidenhead and XC venues - Dispose of car park land at Maidenhead ## **Structure, governance and management** The Board of Trustees are also Directors of the parent company Absolutely Together and the wholly owned limited company and subsidiary Absolutely Together Trading. Where a taxable profit is made by the subsidiary this is gifted to the Charity. The Board met online for formal meetings 6 times during the year to oversee the management and administration of the Charity, and to receive regular updates on various aspects of the Charity’s activities from the Management Team. ## **Governing document** The Charitable Company is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: J H Gillan J E Blackburn D V Gregory ## **Recruitment and appointment of new Trustees** In exercising its powers to nominate, appoint, reappoint, elect, re-elect, approve and dismiss member, the members shall seek to ensure that the board is representative of the local community and also comprises persons with a broad range of skills who are likely to contribute to the Charity's success. ## **Board members induction and training** New trustees are invited to attend and observe at least 2 Board Meetings before confirming their acceptance to become a trustee. During the year the Board completed skills audit to help inform trustee recruitment. This identified the need for legal experience among new trustees’ skillsets. The Management Team, led by the Chief Executive, meet weekly to review the overall performance of the Charity, and to plan and implement necessary actions. The Management Team includes Operations, Finance, People Management, Health and Safety and Business Development functions. A quarterly meeting is held with the wider management team to discuss and plan future activities. Two junior managers are invited to attend each quarterly meeting to gain a better insight into the Charity and its management. ## **Organisation structure & how decision are made** The Board of Trustees has responsibility for administering the charity. The Trustees have appointed a Chief Executive Officer to manage the operations of the Charity, The Board has agreed to delegated powers to manage this arrangement. The Management Team, led by the Chief Executive, meet weekly to review the overall performance of the Charity, and to plan and implement necessary actions. The Management Team includes Operations, Finance, People Management, Health and Safety and Business Development functions. A quarterly meeting is held with the wider management team to discuss and plan future activities. Two junior managers are invited to attend each quarterly meeting to gain a better insight into the Charity and its management. - 3 - ## **ABSOLUTELY LEISURE** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **Setting of pay** The People Development Scheme is a company policy that endorses all pay rate levels for Absolutely Leisure, The Board approve any pay rises on an annual basis and these are then confirmed with the policy. The pay of the Chief Executive is set in line with an historical survey of similar sized and complex organisations in the wider Third Sector, as well as in regard to the skills and experience of the post-holder. The Chief Executive sets the pay for his immediate team, based on the framework detailed within the Charity’s People Development Scheme, and again with reference to the skills ad experience of the post-holders. ## **Public Benefit Statement** The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives, and in planning future activities. Families who have children with additional needs continue to find access to local leisure facilities challenging, which often leads to social isolation. Absolutely Together programmes address this by providing free leisure opportunities for these families, both through the use of Absolutely Leisure and Dacorum Sports Trust facilities and through vouchers for free access to activities with our local leisure partners. We now support families across Berkshire, Buckinghamshire, Hertfordshire and Bristol, with programmes running at each of our eight venues as well as with carefully selected community partners. This enables us to offer a wide-ranging programme that meets the needs of the families we serve. During the year, we delivered over 50,000 Smiles to families with children who have additional needs—helping to reduce social isolation, improve mental wellbeing, and provide much-needed opportunities to enjoy time together. Activities included ten-pin bowling, karting, climbing, swimming, theatre visits, cinema trips, gym use, and disc golf. We also expanded the programme to include theme park visits, farm parks and trampoline sessions, enabling us to reach even more families who are desperately in need of support. ## _Together Karting_ We now operate our Together Karting programme across our tracks in Bristol and Maidenhead, with five specially adapted twin-seat karts shared between the two sites. These karts give children the unique opportunity to experience karting alongside members of their family, creating memories that will last a lifetime. Activities take place during dedicated weekday and weekend sessions – every week. Over the last year, the programme has expanded significantly, now encompassing six local SEN schools and providing five hours of peak-time community use each week. We have also widened our support to include free activities for charities working with children with additional needs, such as Berkshire Vision and Buckinghamshire Vision, giving children with limited vision the unique chance to experience karting in a safe and supportive environment. Teachers regularly share how valuable the programme is for their pupils. One teacher explained: "Our students look forward to these sessions each week, and the benefits have been clear to see. They return to school more confident, more engaged, and with a real sense of achievement from trying something new. The programme has become an important part of their development and wellbeing." Usage of the programme increased significantly during the last 12 months, and we will continue to look for further opportunities to extend its reach in the year ahead. - 4 - ## **ABSOLUTELY LEISURE** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ The impact is best shown in the comments received: _“We were lucky enough to receive tickets from Absolutely Together, we were able to visit bowling, go karting and the goat farm. Firstly, we are very grateful to have had the chance to get this experience. Secondly as a family with a child with disabilities it’s difficult on its own, days out are very few and far and between, based on the fact of disabilities but also the fact I am on a low income so it makes it extra difficult. I applied through Absolutely Together and was given the chance to have these days out with my family, we absolutely loved every single thing, nothing was a problem, my children loved it and we all had the best time as a family._ _I would recommend this company to anyone they really really helped us and made us have the days out we_ _wouldn't usually have.”_ _“We were very grateful to receive Odeon cinema tickets. My son, who has autism, has previously found the cinema overwhelming but was keen to see Despicable Me 4, so was willing to give it a try. We are cautious about paying for the family to go, in the event we don't make it in or through the film. Despite being a working family, we do struggle to fund outings or have to opt for only 1 parent going to keep costs down. My son had a great time and with both parents there, it felt like amazing family time with low stress. Very grateful for the opportunity we have been provided by Absolutely Together.”_ ## _1,000s of Smiles_ Although we did not receive specific grant funding towards the 1,000s of Smiles programme this year, we have been able to keep it running through our own fundraising initiatives and the generous support of local corporate partners, including SEGRO. The highlight of the programme came during the Christmas period, which can be an especially difficult and isolating time for families of children with additional needs. Thanks to our partnerships with the Ambassador Theatre Group and others, we were able to send 600 families to a Christmas show or pantomime at no cost to them. For many of these families, such experiences would not have been possible without our support, and the feedback we received reflected the joy and sense of inclusion these outings provided. An increasing number of families are telling us that they find access to leisure activities restricted, with 82% of families we engage with reporting challenges. Encouragingly, our programmes are now receiving more positive feedback than ever before: 97% of participants in the 1,000s of Smiles programme say it has improved their families’ access to leisure, and 90% report an improvement in their overall wellbeing as a result. The 1,000s of Smiles programme continues to play a vital role in breaking down barriers for families of children with additional needs, offering moments of happiness and connection at times when they are needed most. ## _Work Experience_ This year we have expanded our programmes to include dedicated work experience opportunities, taking on five interns with additional needs across the charity. These young people have each spent three days a week working within an Absolutely Together site while continuing their studies at college. The programme has been delivered in partnership with the charity Ways Into Work and local further education colleges. For many young people with Special Educational Needs (SEN), finding employment is one of the greatest challenges they face. Limited opportunities, a lack of tailored support, and the need for greater understanding from employers often result in barriers that prevent them from accessing the workplace. Our internship scheme is designed to break down these barriers by offering meaningful, structured work experience in a supportive environment, helping young people build confidence, develop practical skills, and prepare for future employment. - 5 - ## **ABSOLUTELY LEISURE** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **Auditor** In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be put at a General Meeting. This report has been prepared in accordance with the provisions applicable to companies entitles the small companies exemption. The Trustees report was approved by the Board of Trustees. .............................. ## **J E Blackburn** Trustee 10 December 2025 Dated: ......................... - 6 - ## **ABSOLUTELY LEISURE** ## **STATEMENT OF TRUSTEES RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ The Trustees, who are also the directors of Absolutely Leisure for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Disclosure of information to auditor** Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. - 7 - ## **ABSOLUTELY LEISURE** ## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ABSOLUTELY LEISURE** ## **Opinion** We have audited the financial statements of Absolutely Leisure (the ‘Charitable Company’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charitable Company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. We also draw attention to the disclosures in note 1.2 regarding going concern. Our opinion is not modified in this respect. ## **Other information** The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. - 8 - ## **ABSOLUTELY LEISURE** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ABSOLUTELY LEISURE** ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of our audit: - the information given in the Trustees report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and - the directors' report included within the Trustees report has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees report and from the requirement to prepare a strategic report. ## **Responsibilities of Trustees** As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the directors of the Charitable Company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. - 9 - ## **ABSOLUTELY LEISURE** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ABSOLUTELY LEISURE** ## **Extent to which the audit was considered capable of detecting irregularities, including fraud** Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud. We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included: - Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud; - Reviewing minutes of meetings of those charged with governance; - Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection; - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; - Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. ## **Use of our report** This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s members in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. **Paul Creasey (Senior Statutory Auditor) for and on behalf of Azets Audit Services** 17 December 2025 ......................... ## **Chartered Accountants Statutory Auditor** Gladstone House 77-79 High Street Egham Surrey United Kingdom TW20 9HY - 10 - ## **ABSOLUTELY LEISURE** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2025**_ |||**Unrestricted**|Unrestricted| |---|---|---|---| |||**funds**|funds| |||**2025**|2024| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**3**|524,332|425,547| |Charitable activities:|||| |Leisure activities|**4**|3,742,758|3,682,388| |Funding income|**4**|205,440|175,440| |**Total income**||4,472,530|4,283,375| |**Expenditure on:**|||| |Charitable activities|**5**|4,584,040|4,284,070| |**Net outgoing resources**||(111,510)|(695)| |**Other recognised gains and losses**|||| |Revaluation of tangible fixed assets||2,344,120|-| |Actuarial gain on defined benefit pension schemes||309,000|126,000| |**Net movement in funds**||2,541,610|125,305| |Fund balances at 1 April 2024||(683,827)|(809,132)| |**Fund balances at 31 March 2025**||1,857,783|(683,827)| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 11 - ## **ABSOLUTELY LEISURE** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2025**_ ||||**2025**|||**2024**| |---|---|---|---|---|---|---| ||**Notes**|**£**||**£**|**£**|**£**| |**Fixed assets**||||||| |Tangible assets|**9**|||4,118,197||1,815,169| |**Current assets**||||||| |Stocks|**10**|3,643|||13,547|| |Debtors|**11**|428,398|||145,080|| |Cash at bank and in hand||55,814|||86,558|| |||487,855|||245,185|| |**Creditors: amounts falling due within**||||||| |**one year**|**14**|(1,519,133)|||(1,344,256)|| |Net current liabilities|||(1,031,278)|||(1,099,071)| |**Total assets less current liabilities**||||3,086,919||716,098| |**Creditors: amounts falling due after**||||||| |**more than one year**|**15**||(1,229,136)|||(1,417,925)| |**Net assets excluding pension (liability)/surplus**||||1,857,783||(701,827)| |**Defined benefit pension**||||||| |**(liability)/surplus**|**17**|||-||18,000| |**Net assets/(liabilities)**||||1,857,783||(683,827)| |**Income funds**||||||| |Unrestricted funds:||||||| |General unrestricted funds||(486,337)|||(701,827)|| |Revaluation reserve||2,344,120|||-|| |Pension reserve||-|||18,000|| |||||1,857,783||(683,827)| |||||1,857,783||(683,827)| |The financial statements were approved by the Trustees||on .........................
10 December 2025||||| |..............................||||||| |J E Blackburn||||||| |**Trustee**||||||| **Company Registration No. 06822082** - 12 - ## **ABSOLUTELY LEISURE** ## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ||||**2025**|||**2024**|| |---|---|---|---|---|---|---|---| ||**Notes**|**£**||**£**|**£**||**£**| |**Cash flows from operating activities**|||||||| |Cash generated from operations|**23**|||330,324|||198,042| |**Investing activities**|||||||| |Purchase of tangible fixed assets||(123,204)|||(22,304)||| |**Net cash used in investing activities**||||(123,204)|||(22,304)| |**Financing activities**|||||||| |Repayment of borrowings||-|||(8,625)||| |Repayment of bank loans||(185,634)|||(177,952)||| |Payment of obligations under finance leases||(52,230)|||(46,212)||| |**Net cash used in financing activities**||||(237,864)|||(232,789)| |**Net decrease in cash and cash equivalents**||||(30,744)|||(57,051)| |Cash and cash equivalents at beginning of year||||86,558|||143,609| |**Cash and cash equivalents at end of year**||||55,814|||86,558| - 13 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **Charity information** Absolutely Leisure is a private company limited by guarantee incorporated in England and Wales. The registered office is The Arena, Stafferton Way, Maidenhead, Berkshire, SL6 1AY, United Kingdom. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charitable Company is a Public Benefit Entity as defined by FRS 102. Absolutely Leisure meets the definition under FRS 102 of a public benefit entity. The financial statements are prepared in sterling, which is the functional currency of the Charitable Company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **Reduced Disclosures** In accordance with FRS 102, the Charitable Company has taken advantage of the exemptions from the following disclosure requirements: - Section 11 ' Basic Financial Instruments' & Section 12 'Other Financial Instrument Issues' - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis for determining fair values. The financial statements of the Charitable Company are consolidated in the financial statement of Absolutely Together. the consolidated financial statements of Absolutely Together are available from its registered office, The Arena, Stafferton Way, Maidenhead, Berkshire, SL6 1AY. ## **1.2 Going concern** At the time of approving the financial statements and based on the 2025 - 28 forecasts, the Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds are used to account for situations where the donor required the funds must be spent on a particular purpose. - 14 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **(Continued)** ## **1.4 Income** All income on the Statement of Financial Activities is recognised when the Charitable Company is legally entitled to the income and the amount can be quantified with reasonable accuracy. Certain income is received in advance of the provision of the relevant service and as such is deferred until the service commences. Income for annual memberships is accounted for over the membership year. Income from leisure activities are recognised as the related good and service are provided. Income from grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probably that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Management fees are unrestricted income which available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Leasehold property straight line over 25 years Improvements to property straight line over 4 yers Plant and machinery straight line over 3 years or the life of the lease The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. Leasehold property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in other comprehensive income. ## **1.7 Stocks** Stocks are valued at the lower of cost and net realisable value, on a first-in-first-out basis, after making due allowance for obsolete and slow moving items. - 15 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** **(Continued)** ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. ## **1.9 Financial instruments** The Charitable Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial assets and liabilities are recognised when the Charitable Company becomes a party to the contractual provisions of the instrument, and are offset only when the Charitable Company currently has a legally enforceable right to set off the recognised amounts and tends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. ## _**Financial assets and liabilities**_ The Charitable Company's debtors and creditors that meet the definition of either a financial asset of a financial liability are initially recognised at the transaction value and thereafter are stated at amortised cost suing the effective interest method. ## **1.10 Employee benefits** Termination benefits are recognised immediately as an expense when the Charitable Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** The Charitable Company operates a defined contribution pension scheme Contributions payable to the Charitable Company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. The Charitable Company has also assumed responsibility for a pension scheme providing benefits base on final pensionable pay. Contributions to the defined benefit scheme are charged to income and expenditure in order to allocation the cost of providing the pensions recognising any actuarial gain or loss (where appropriate), over the working lives of the relevant employees as assessed in accordance with the advice of a professional qualified actuary. The Local Goverment Pension Scheme (LGPS) is a funded multi-employer scheme and the assets are held separately from those of the Charitable Company in separate Trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to operating surplus are the current service costs and the costs of scheme introduction, benefit charges, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses. - 16 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **(Continued)** ## **1.12 Leases** Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to income and expenditure so as to produce a constant periodic rate of charge of the net obligation outstanding in each period. Rentals payable under operating leases are charged as an expense on a straight line basis over the lease term. ## **1.13 Irrecoverable VAT** VAT on revenue expenditure which can not be recovered is charged as a separate cost to the Statement of Financial Activities. VAT on capital expenditure which can not be recovered is capitalised as part of the cost of acquiring the relevant asset. ## **2 Critical accounting estimates and judgements** In the application of the Charitable Company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **Critical judgements** ## **Leases** In categorising leases as finance leases or operating leases, management makes judgements as to whether significant risks and rewards of ownership have transferred to the Charitable Company as lessee. ## **Key sources of estimation uncertainty** ## **Carrying value of assets and liabilities** The Charitable Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost or income for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 17 will impact the carrying amount of the pension liability. ## **Valuation of leasehold property** The Charity uses the valuation performed by its independent valuers as the fair value of its leasehold property. The valuation is based upon the key assumptions of estimated rental values and market based yields. In determining fair value the valuers make reference to market evidence and recent transaction prices for similar properties. - 17 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **3 Donations and legacies** |Government and other grants
Donation from fellow group company Absolutely Together Trading Ltd
Other donations|**2025**
**£**
92,000
407,722
24,610
524,332|2024
£
72,000
326,741
26,806| |---|---|---| |||425,547| The income from donations of £432,332 (2024: £353,547) was all unrestricted. They also received a grant of £92,000 (2024: £72,000) relates to a grant received from the parent charity, Absolutely Together. There were no grant income relating to local authority funding in the period. ## **4 Charitable activities:** ||**Leisure**|**Management**|**Total**|**Leisure**|**Management**|**Total**| |---|---|---|---|---|---|---| ||**activities**|**fees**|**2025**|**activities**|**fees**|**2024**| ||**2025**|**2025**||**2024**|**2024**|| ||**£**|**£**|**£**|**£**|**£**|**£**| |Charitable activities|3,742,758|205,440|3,948,198|3,682,388|175,440|3,857,828| The income from charitable activities of £3,948,128 (2024: £3,857,828) was all unrestricted. - 18 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **5 Charitable activities** |**Direct Costs**
**2025**
**£**
Staff costs
1,687,453
Depreciation
-
Overheads
94,807
Lease Charges
-
Other Loan Interest
-
Bank Charges
-
Legal and Professional
-
Defined Benefit Pension
Costs
-
Consultancy
-
**Governance costs**
Auditors Remuneration
-
1,782,260|**Support**
**Costs**
**2025**
**£**
-
219,407
2,113,363
-
29,111
52,412
18,091
327,000
17,396
25,000
2,801,780|**Total**
**2025**
**Direct Costs**
**2024**
**£**
**£**
1,687,453
1,591,972
219,407
-
2,208,170
76,714
-
-
29,111
-
52,412
-
18,091
-
327,000
-
17,396
-
25,000
-
4,584,040
1,668,686|**Support**
**Costs**
**2024**
**£**
-
202,488
2,159,688
214
13,253
46,929
27,208
130,000
12,284
23,320
2,615,384|**Total**
**2024**
**£**
1,591,972
202,488
2,236,402
214
13,253
46,929
27,208
130,000
12,284
23,320| |---|---|---|---|---| |||||4,284,070| The expenditure on charitable activities of £4,584,040 (2024: £4,284,070) was all from unrestricted funds. ## **6 Trustees** The Trustees did not receive any remuneration during the year ended 31 March 2025 (2024: £nil). There were no Trustees' expenses paid for the year ended 31 March 2025 (2024: £nil). ## **7 Employees** The average monthly number of employees during the year was: |Leisure activities
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2025**
**Number**
134
**2025**
**£**
1,501,996
110,427
75,030
1,687,453|**2024**
**Number**
101| |---|---|---| |||**2024**
**£**
1,422,547
99,875
69,550| |||1,591,972| - 19 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**Employees**||**(Continued)**| |---|---|---| |The number of employees whose annual remuneration was more than £60,000||| |is as follows:||| ||**2025**|**2024**| ||**Number**|**Number**| |£100,000 +|1|1| **7 Employees** The remuneration of key management personnel is £120,833 (2024: £123,964). ## **8 Taxation** No liability to UK corporation tax arose on ordinary activities for the year ended 31 March 2025 or the year ended 31 March 2024. ## **9 Tangible fixed assets** |**Tangible fixed assets**|||| |---|---|---|---| |**Cost**
At 1 April 2024
Additions
Disposals
Revaluation
At 31 March 2025
**Depreciation and impairment**
At 1 April 2024
Depreciation charged in the year
Eliminated in respect of disposals
At 31 March 2025
**Carrying amount**
At 31 March 2025
At 31 March 2024|**Leasehold**
**property**
**Improvements**
**to property**
**£**
**£**
1,832,270
603,782
-
-
-
-
2,344,120
-
4,176,390
603,782
403,099
603,782
73,291
-
-
-
476,390
603,782
3,700,000
-
1,429,171
-|**Plant and**
**machinery**
**£**
3,022,954
178,316
(211,014)
-
2,990,256
2,636,956
146,117
(211,014)
2,572,059
418,197
385,998|**Total**
**£**
5,459,006
178,316
(211,014
2,344,120| ||||7,770,428| ||||3,643,837
219,408
(211,014| ||||3,652,231| ||||4,118,197| ||||1,815,169| The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £51,794 (2024 - £38,658) for the year. |(2024 - £38,658) for the year.||| |---|---|---| ||**2025**|**2024**| ||**£**|**£**| |Plant and machinery|98,978|84,845| The leasehold property is valued at open market value. As at 31 March 2025, a full valuation was undertaken by Kempton Carr Croft. The valuation is based on market value for the location and similar properties. - 20 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**10**
**Stocks**
Finished goods and goods for resale
**11**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**12**
**Loans and overdrafts**
Bank loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments|**2025**
**£**
3,643
**2025**
**£**
10,561
-
417,837
428,398
**2025**
**£**
1,220,773
171,466
1,049,307
865,963|**2024**
**£**
13,547| |---|---|---| |||**2024**
**£**
16,283
7,610
121,187| |||145,080| |||**2024**
**£**
1,406,407| |||180,274
1,226,133| |||907,875| The finance lease liabilities of the Charitable Company, £27,534 (2024: £52,690) of which fall due in less than one year, with £83,162 (2024: £55,125) falling due in more than one year, are secured over the assets which form part of the finance lease agreements. The bank loans of £171,466 (2024: £180,274) within one year and £1,049,307 (2024: £1,226,133) after one year are secured by way of a fixed and floating charge, in favour of National Westminster Bank Plc, over the assets of the Charitable Company. - 21 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **13 Finance lease commitments** Future minimum lease payments due under finance leases: |Within one year
Within two and five years|**2025**
**£**
27,534
83,162
110,696|**2024**
**£**
52,690
55,125| |---|---|---| |||107,815| ## **14 Creditors: amounts falling due within one year** |**Notes**
Bank loans
**12**
Obligations under finance leases
**13**
Other taxation and social security
Deferred income
**16**
Trade creditors
Amounts owed to fellow group undertakings
Other creditors
Accruals
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**12**
Obligations under finance leases
**13**
Other creditors|**2025**
**£**
171,466
27,534
40,545
121,005
383,420
425,533
79,775
269,855
1,519,133
**2025**
**£**
1,049,307
83,162
96,667
1,229,136|**2024**
**£**
180,274
52,690
50,335
254,594
384,669
36,676
70,398
314,620| |---|---|---| |||1,344,256| |||**2024**
**£**
1,226,133
55,125
136,667| |||1,417,925| ## **15 Creditors: amounts falling due after more than one year** Of the above, the bank loans includes a balance of £867,654 which is due in 5+ years. - 22 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **16 Deferred income** ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |Arising from grants|10,752|110,752| |Arising from block bookings/events|110,253|143,842| ||121,005|254,594| ||**2025**|**2024**| ||**£**|**£**| |Deferred income is included within:||| |Current liabilities|121,005|254,594| |Movements in the year:||| |Deferred income at 1 April 2024|254,594|424,138| |Released from previous periods|(243,842)|(313,386)| |Resources deferred in the year|110,253|143,842| |Deferred income at 31 March 2025|121,005|254,594| Deferred income related to advance payments for block bookings/events at the sites that related to future dates. The deferred income on the grant relates to a financial grant from Absolutely Together for the delivery of various programmes over the next year. ## **17 Retirement benefit schemes** ## **Defined contribution schemes** The Charitable Company operates a defined contribution pension scheme. The contributions payable during the year amounted to £40,000 (2024: £40,000). At 31 March 2025 there was £2,603 (2024: £3,171) owing to the scheme and this is included within other creditors. The pension contributions and liability is all allocated from unrestricted funds which is the only fund basis of the Charity. |**Defined benefit schemes**||| |---|---|---| |_Key assumptions_||| ||**2025**|**2024**| ||**%**|**%**| |Discount rate|5.95|4.95| |Expected rate of increase of pensions in payment|2.85|2.90| |Expected rate of salary increases|2.45|2.50| - 23 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **17 Retirement benefit schemes** ## **(Continued)** ## _Mortality assumptions_ The assumed life expectations on retirement at age 65 are: |_Mortality assumptions_
The assumed life expectations on retirement at age 65 are:||| |---|---|---| ||**2025**|**2024**| ||**Years**|**Years**| |Retiring today||| |- Males|20.7|20.8| |- Females|23.6|23.6| |Retiring in 20 years||| |- Males|22|22.0| |- Females|25|25.0| |Amounts recognised in the profit and loss account:||| ||**2025**|**2024**| ||**£**|**£**| |Current service cost|60,000|61,000| |Net interest on defined benefit liability/(asset)|(9,000)|(3,000)| |Other costs and income|1,000|1,000| |Total costs|52,000|59,000| |Amounts taken to other comprehensive income:||| ||**2025**|**2024**| ||**£**|**£**| |Actual return on scheme assets|(35,000)|(127,000)| |Less: calculated interest element|81,000|69,000| |Return on scheme assets excluding interest income|46,000|(58,000)| |Actuarial changes related to obligations|(355,000)|(68,000)| |Effects of changes in the amount of surplus that is not recoverable|455,000|123,000| |Total costs/(income)|146,000|(3,000)| - 24 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **17 Retirement benefit schemes** ## **(Continued)** The amounts included in the balance sheet arising from the Charitable Company's obligations in respect of defined benefit plans are as follows: |defined benefit plans are as follows:||| |---|---|---| ||**2025**|**2024**| ||**£**|**£**| |Present value of defined benefit obligations|1,243,000|1,452,000| |Fair value of plan assets|(1,698,000)|(1,593,000)| |Surplus in scheme|(455,000)|(141,000)| |Restriction on scheme assets|455,000|123,000| |Total liability/(asset) recognised|-|(18,000)| |Movements in the present value of defined benefit obligations:||| |||**2025**| |||**£**| |Liabilities at 1 April 2024||1,452,000| |Current service cost||60,000| |Benefits paid||(18,000)| |Contributions from scheme members||32,000| |Actuarial gains and losses||(355,000)| |Interest cost||72,000| |At 31 March 2025||1,243,000| The defined benefit obligations arise from plans which are wholly or partly funded. Movements in the fair value of plan assets: |Fair value of assets at 1 April 2024
Interest income
Return on plan assets (excluding amounts included in net interest)
Benefits paid
Contributions by the employer
Contributions by scheme members
Other
At 31 March 2025|**2025**
**£**
1,593,000
81,000
(46,000)
(18,000)
57,000
32,000
(1,000)
1,698,000| |---|---| - 25 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **17 Retirement benefit schemes** ## **(Continued)** The fair value of plan assets at the reporting period end was as follows: |Equity instruments
Debt instruments
Property
Cash
Infrastructure
Longevity insurance|**2025**
**£**
1,150,000
248,000
142,000
31,000
198,000
(71,000)
1,698,000|**2024**
**£**
1,095,000
209,000
145,000
15,000
200,000
(71,000)| |---|---|---| |||1,593,000| ## **18 Analysis of net assets between funds** |**Analysis of net assets between funds**||| |---|---|---| ||**Unrestricted**|Unrestricted| ||**funds**|funds| ||**2025**|2024| ||**£**|£| |Fund balances at 31 March 2025 are represented by:||| |Tangible assets|4,118,197|1,815,169| |Current assets/(liabilities)|(1,031,278)|(1,099,071)| |Long term liabilities|(1,229,136)|(1,417,925)| |Provisions and pensions|-|18,000| ||1,857,783|(683,827)| ## **19 Operating lease commitments** At the reporting end date the Charitable Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: |Within one year
Between two and five years|**2025**
**£**
562,242
977,372
1,539,614|**2024**
**£**
555,632
1,416,114| |---|---|---| |||1,971,746| ## **20 Related party transactions** During the year, Absolutely Leisure recieved £150,000 (2024: £120,000) from Dacorum Sports Trust, another subsidiary of Absolutely Together, for the support services provided in the period. - 26 - ## **ABSOLUTELY LEISURE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **21 Ultimate parent undertaking and controlling related party** The ultimate parent company is Absolutely Together, a company limited by guarantee and incorporated in Great Britain by virtue of being the sole member. Company Registration No: 08466394 and Registered Charity No: 1152093. This is the smallest and largest group to consolidate these financial statements. Copies of the financial statement can be obtained from The Arena, Stafferton Way, Maidenhead, Berkshire, SL 6 1AY or on companies house website www.companieshouse.gov.uk. The Trustees consider the Board of Trustees of Absolutely Together, a company limited by guarantee, to be the ultimate controlling party. ## **22 Limited by guarantee** The Charity is a company limited by guarantee and has no share capital. the liability of each member in the event of winding up is limited to £1. |**Cash generated from operations**
(Deficit)/surplus for the year
Adjustments for:
Depreciation and impairment of tangible fixed assets
Defined benefit pension scheme cost less contributions payable
Asset ceiling on defined benefit pension scheme
Defined benefit pension scheme interest cost
Movements in working capital:
Decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
(Decrease) in deferred income
**Cash generated from operations**
**Analysis of changes in net (debt)/funds**
**At 1 April 2024**
**£**
Cash at bank and in hand
86,558
Loans falling due within one year
(180,274)
Loans falling due after more than one year
(1,226,133)
Obligations under finance leases
(107,815)
(1,427,664)|**Cash flows**
**£**
(30,744)
8,808
176,826
52,230
207,120|**2025**
**2024**
**£**
**£**
(111,510)
(695)
219,407
202,488
4,000
10,000
332,000
123,000
(9,000)
(3,000)
9,904
90
(283,318)
61,571
302,430
(25,868)
(133,589)
(169,544)
330,324
198,042
**New finance**
**leases**
**At 31 March 2025**
**£**
**£**
-
55,814
-
(171,466)
-
(1,049,307)
(55,111)
(110,696)
(55,111)
(1,275,655)| |---|---|---| ## **23** ## **24 Analysis of changes in net (debt)/funds** - 27 -