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2023-03-31-accounts

Registered number: 05252701 Charity number: 1134988

ACTIVE LINCOLNSHIRE (A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2 - 7
Independent auditors' report on the financial statements 8 - 12
Statement of financial activities 13
Balance sheet 14 - 15
Statement of cash flows 16
Notes to the financial statements 17 - 38

(A company limited by guarantee)

ACTIVE LINCOLNSHIRE

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees P S Barron, Chair (appointed 20 March 2023)
K Evans
R Flint (appointed 13 June 2022)
S Ford (appointed 13 June 2022)
N P Juster (appointed 20 March 2023)
M J Locking (resigned 31 January 2023)
S Mills (appointed 12 June 2023)
M F Morris (appointed 20 March 2023)
M J Pinchard (resigned 12 December 2022)
J E Richardson
O R Tasker (resigned 28 June 2023)
K I Truscott (resigned 28 June 2023)
K Whitfield (appointed 13 June 2022)
Company Registered
Number
05252701
Charity Registered
Number
1134988
Registered Office
Newland House
The Point, Weaver Road
Lincoln
LN6 3QN
Chief Executive Officer
E Tatlow
Independent Auditors
Streets Audit LLP
Chartered Accounts & Statutory Auditor
Tower House
Lucy Tower Street
Lincoln
LN1 1XW
Bankers
Barclays Bank plc
316-318 High Street
Lincoln
LN5 7DP

Page 1

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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).

Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

OBJECTIVES AND ACTIVITIES

Objectives and Aims

The aim of Active Lincolnshire, as set out in the Memorandum of Association is:

"To promote increased community participation in sport, active recreation and physical activity (together SARPA) for the benefit of the inhabitants of Lincolnshire".

This is delivered by:

Active Lincolnshire’s mission is to help more people to be more active more often. We are focused on building options to be active into everyone’s daily lives to tackle the challenge of physical inactivity. We support the local implementation of Sport England’s ten-year national strategy "Uniting the Movement" that was launched in January 2021.

We have a coherent strategy for Lincolnshire for physical activity (Let’s Move Lincolnshire) that is based on research and insight into activity levels within the county. .

Public Benefit

In deciding which activities the charity will pursue, the trustees have paid regard to the guidance issued by the Charity Commission on public benefit. All activities, delivered by the charity, focus on the promotion of increased sport and physical activity across Lincolnshire.

Most of the funding received is to deliver specific activities designed to increase activity levels across Lincolnshire, either in target areas or with targeted groups of individuals. When planning projects, particular note is taken of Sport England and Public Health England information to identify areas or target groups where increases in activity levels will have a positive impact on the well-being of communities.

Page 2

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Our business plan focuses on:

Our Purpose

The results of the “Active Lives” Survey highlights just how important this is; with 30% of adults in Lincolnshire being ‘inactive’ and health inequalities apparent across the county. We recognise that to create change, collaboration and working in partnership is essential.

ACHIEVEMENT AND PERFORMANCE

Active Lincolnshire have delivered a range of work to influence and advocate for the positive impact of physical activity and delivered a number of programmes and workstreams that are detailed in the 2022 -2023 impact report available on the ActiveLincolnshire.com website.

Page 3

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Active Lincolnshire has continued to comply with Tier 3 of the Code of Sports Governance, compliance is monitored through the Governance and Standards Committee.

FINANCIAL REVIEW

This has been another challenging year in terms of the charity’s ability to raise voluntary income and income from trading activities where the results show a reduction in comparison to the previous year.

However, the financial statements show an increase in the funding from charitable activities due to increased overall funding from Sport England.

Principal Funding Sources

The core funding was secured from the following sources in 2022/23:

Reserves Policy

The Board review the reserves of the charity annually.

The Board's aim is to maintain unrestricted general reserves (excluding pension fund) of approximately 6 months' expenditure in order to mitigate the risk of any such periods of reduced or non-income or unforeseen expenditure.

During the year, the unrestricted reserves excluding pension fund decreased from £506,388 to £485,720.

Restricted reserves increased from £281,805 to £282,614 at 31 March 2023 where funding received in the year could not be spent but funders have permitted funds to be carried over to be spent in future years.

Pension Scheme

Some employees of Active Lincolnshire participate in the Lincolnshire County Council defined Benefit Pension Scheme and the organisation has made all the contributions promptly as required. At 31 March 2023, the net pension deficit decreased from £493,000 to become a surplus of £489,000, which is represented as zero in the accounts.

As part of the Lincolnshire County Council Defined Benefits Scheme assumptions are made about us as part of a wider working contract done by the actuary of Lincolnshire County Council (LCC). The discount rate used, which is an accounting assumption, is not discretionary, and the reasons behind this change include the uncertainty due to political assumptions outside of our control.

It is the Trustees opinion that the pension scheme surplus, does not represent a current asset or have any impact on the going concern of Active Lincolnshire and it continues to meet obligations made by the scheme. The LCC scheme is now closed to new employees.

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Page 4

(A company limited by guarantee)

ACTIVE LINCOLNSHIRE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

FUTURE PLANS

Our strategy is:

We will, with the mandate from the Lincolnshire Health and Wellbeing Board, and recognising that a whole system approach to tackling the challenge of inactivity is required, continue to play a lead-role in the delivery of Let’s Move Lincolnshire for a more active community in Lincolnshire.

Active Lincolnshire will continue to deliver a wide range of projects, products and programmes. We will continue to focus on bringing partners together from all sectors of the community, to influence and facilitate incorporate options to be active into everyone’s daily lives.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is controlled by its Memorandum and Articles of Association and constitutes a company limited by guarantee as defined by the Companies Act 2006.

Active Lincolnshire is a limited company and registered charity. The company was registered in October 2004 and charitable status was gained in March 2010. The original Memorandum and Articles of Association were adopted in 2004 and were last reviewed in August 2019. In the event of the company being wound up members are required to contribute an amount not exceeding £10.00 per member.

As an Active Partnership, Active Lincolnshire is required to meet Tier 3 of the Sport England 'Governance Code for Sport in the UK'.

Recruitment and Appointment of New Trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company's articles are known as directors of the company. They are recruited through open advert and appointment is agreed by existing directors (ratified at the next AGM). According to the Articles of Association all directors are subject to a rotation policy which specifies that one third of the directors must retire at each AGM (based on length of service) and may be re-elected for a further three-year period at the Annual General Meeting.

The Board is made up of representatives from all sectors and areas of the community offering a breadth of insight into the county of Lincolnshire.

An annual skills assessment and board review is carried out, this helps to build a Board development and training programme.

Organisational Structure

The day-to-day management of the charity is delegated by the trustees to the Chief Executive Officer (CEO).

The board of trustees, staff and, if required, external specialists, come together for themed conversations and strategic debate outside of the main board meeting to advise the Board.

Induction and Training of New Trustees

All new trustees go through an induction programme and are provided with an information pack about the role of a director and charity trustee.

Page 5

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Key Management Personnel Remuneration and Related Parties

The trustees consider the board of trustees and the chief executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year.

Details of trustee expenses are disclosed in note 11 to the accounts.

Trustees are required to disclose all relevant interests and in accordance with the charity's policy withdraw from decisions where a conflict of interest arises.

The pay of the charity's Chief Executive Officer is reviewed annually.

Wider Network

Active Lincolnshire engages with multiple private, public and third sector partners all working together to achieve common goals and objectives.

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees (who are also the directors of the charity for the purposes 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. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 6

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

DISCLOSURE OF INFORMATION TO AUDITOR

Each of the persons who are trustees at the time when this Trustees' report is approved has confirmed that:

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the members of the board of trustees on 25 September 2023 and signed on their behalf by:

O R Tasker Vice-Chair

Page 7

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACTIVE LINCOLNSHIRE

Opinion

We have audited the financial statements of Active Lincolnshire (the 'charity') for the year ended 31 March 2023 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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:

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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.

Page 8

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACTIVE LINCOLNSHIRE (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our 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 Trustees' report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 9

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACTIVE LINCOLNSHIRE (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine 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.

Auditors' 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 Auditors' 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Page 10

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACTIVE LINCOLNSHIRE (CONTINUED)

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 11

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACTIVE LINCOLNSHIRE (CONTINUED)

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. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Anderson (Senior statutory auditor)

for and on behalf of

Streets Audit LLP

Chartered Accounts & Statutory Auditor Tower House Lucy Tower Street Lincoln LN1 1XW

14 November 2023

Page 12

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Note
Income from:
Charitable activities
4
Other trading activities
5
Investments
6
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net income / (expenditure)
Transfers between funds
15
Net movement in funds before other
recognised gains/(losses)
Other recognised gains/(losses):
Actuarial gains on defined benefit
pension schemes
22
Defined benefit pension scheme asset
not recognised
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2023
£
804,289
-
-
804,289
811,033
811,033
(6,744)
7,553
809
-
-
809
281,805
809
282,614		 Unrestricted
funds
2023
£
82,850
12,200
505
95,555
129,670
129,670
(34,115)
(7,553)
(41,668)
1,003,000
(489,000)
472,332
13,388
472,332
485,720		 Total
funds
2023
£
887,139
12,200
505
899,844
940,703
940,703
(40,859)
-
(40,859)
1,003,000
(489,000)
473,141
295,193
473,141
768,334		 Total
funds
2022
£
950,194
10,733
34
960,961
921,155
921,155
39,806
-
39,806
269,000
-
308,806
(13,613)
308,806
295,193

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 17 to 38 form part of these financial statements.

Page 13

ACTIVE LINCOLNSHIRE (A company limited by guarantee) REGISTERED NUMBER: 05252701

BALANCE SHEET AS AT 31 MARCH 2023

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
Net current assets
Total assets less current liabilities
Net assets excluding pension asset /
liability
Defined benefit pension scheme asset /
liability
22
Total net assets		 15,741
836,088
851,829
(83,495)		 2023
£
-
-
768,334
768,334
768,334
-
768,334		 51,249
777,595
828,844
(44,544)		 2022
£
3,893
3,893
784,300
788,193
788,193
(493,000)
295,193

Page 14

ACTIVE LINCOLNSHIRE (A company limited by guarantee) REGISTERED NUMBER: 05252701

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023

Note
Charity funds
Restricted funds
15
Unrestricted funds
Unrestricted funds excluding pension
reserve
15
Pension reserve
15
Total unrestricted funds
15
Total funds		 485,720
-		 2023
£
282,614
485,720
768,334		 506,388
(493,000)		 2022
£
281,805
13,388
295,193

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the trustees on 25 September 2023 and signed on their behalf by:

O R Tasker Vice-Chair

The notes on pages 17 to 38 form part of these financial statements.

Page 15

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Bank interest received
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 17 to 38 form part of these financial statements		 2023
£
57,988
505
505
58,493
777,595
836,088		 2022
£
20,027
34
34
20,061
757,534
777,595

Page 16

(A company limited by guarantee)

ACTIVE LINCOLNSHIRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. General information

Active Lincolnshire (the charity) is a limited company by guarantee incorporated in England and Wales and a registered charity. The charity's registered office is at Newland House The Point, Weaver Road, Lincoln, England, LN6 3QN. The charity's principal activity is the promotion of increased participation in sport and active recreation.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Active Lincolnshire meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements.

The trustees have received confirmation of the continued funding from its major provider and prepared budgets and forecasts. The trustees have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 17

(A company limited by guarantee)

ACTIVE LINCOLNSHIRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.4 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.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives are as follows:

Computer equipment - 3 years

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 18

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.8 Cash at bank and in hand

Cash at bank represents balances held in current and deposit accounts to which the charity has immediate access.

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.10 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.11 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

The charity operates a defined benefits pension scheme and the pension charge is based on a full actuarial valuation dated 31 March 2022. The pension liability has been valued by an actuary as at 31 March 2023.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 19

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The charity 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 are discussed below.

The present value of the defined benefit pension scheme 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 22, will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions liability at 31 March 2023. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.

4. Income from charitable activities

Sport England
Other
Total 2022		 Restricted
funds
2023
£
749,289
55,000
804,289
870,436		 Unrestricted
funds
2023
£
-
82,850
82,850
79,758		 Total
funds
2023
£
749,289
137,850
887,139
950,194		 Total
funds
2022
£
726,220
223,974
950,194

Page 20

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. Income from other trading activities

Income from fundraising events

Sponsorship
Total 2022
Investment income

Bank Interest Received
Total 2022		 Unrestricted
funds
2023
£
12,200
10,733
Unrestricted
funds
2023
£
505
34		 Total
funds
2023
£
12,200
10,733
Total
funds
2023
£
505
34		 Total
funds
2022
£
10,733
Total
funds
2022
£
34

6. Investment income

Page 21

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. Analysis of expenditure by activities

Sport England
Other
Total 2022
Analysis of direct costs
Pension Finance Cost
Staff Costs
Staff Expenses
Other Staff Costs
Programme Delivery
External Staff Costs
Total 2022		 Activities
undertaken
directly
2023
£
529,892
149,141
679,033
592,648		 Grant
funding of
activities
2023
£
89,268
-
89,268
153,070
Sport
England
2023
£
13,000
363,079
5,354
5,673
142,786
-
529,892
401,293		 Support
costs
2023
£
131,300
41,102
172,402
175,437
Other
2023
£
-
83,759
2,106
475
60,158
2,643
149,141
191,355		 Total
funds
2023
£
750,460
190,243
940,703
921,155
Total
funds
2023
£
13,000
446,838
7,460
6,148
202,944
2,643
679,033
592,648		 Total
funds
2022
£
706,082
215,073
921,155
Total
funds
2022
£
14,000
311,438
868
2,064
256,806
7,472
592,648

Page 22

(A company limited by guarantee)

ACTIVE LINCOLNSHIRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Depreciation
Premises Costs
Staff Training and Development
Office Costs
Insurance
Professional Costs
Governance Costs
Other Support Costs
Total 2022		 Sport
England
2023
£
3,893
17,715
16,680
36,408
5,663
18,874
4,185
27,882
131,300
156,387		 Other
2023
£
-
-
3,550
224
-
29,106
-
8,222
41,102
19,050		 Total
funds
2023
£
3,893
17,715
20,230
36,632
5,663
47,980
4,185
36,104
172,402
175,437		 Total
funds
2022
£
4,576
11,786
7,840
27,510
6,258
90,122
4,590
22,755
175,437

8. Analysis of grants

Grants, Sport England
Grants, Other
Total 2022		 Grants to
Schools /
Clubs
2023
£
89,268
-
89,268
153,070		 Total
funds
2023
£
89,268
-
89,268
153,070		 Total
funds
2022
£
148,402
4,668
153,070

Page 23

(A company limited by guarantee)

ACTIVE LINCOLNSHIRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. Auditors' remuneration

2023 2022
£ £
Fees payable to the charity's auditor for the audit of the charity's annual
accounts 4,000 4,000

10. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
Operating costs of defined benefit pension schemes		 2023
£
385,157
34,598
19,083
8,000
446,838		 2022
£
250,152
19,571
6,715
35,000
311,438

The average number of persons employed by the charity during the year was as follows:

2023 2022
No. No.
Total 12 10
The average headcount expressed as full-time equivalents was:
2023 2022
No. No.
Total 11.0 8.5
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was:
2023 2022
No. No.
In the band £60,001 - £70,000 1 -

The total amount of key management personnel benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel during the year totalled £71,411 (2021 - £68,027).

Page 24

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11. Trustees' remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 March 2023, no trustee expenses have been incurred (2022 - £NIL) .

12. Tangible fixed assets

Cost or valuation
At 1 April 2022
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
13.
Debtors
Due within one year
Trade debtors
Prepayments		 2023
£
6,046
9,695		 Computer
equipment
£
12,697
12,697
8,804
3,893
12,697
-
3,893
2022
£
47,994
3,255
15,741 51,249

Page 25

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 April
Resources deferred during the year
Amounts released from previous periods		 2023
£
59,145
16,005
4,012
4,333
83,495
2023
£
4,072
-
(4,072)
-		 2022
£
21,121
5,959
5,232
12,232
44,544
2022
£
20,313
4,072
(20,313)
4,072

Page 26

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023		 NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023		 NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
15.
Statement of funds
Statement of funds - current year
Unrestricted Funds
Designated Funds
LEAP
Wheelchair Sports
General Funds
General Funds
Pension Reserve
Total Unrestricted Funds		 Balance at 1
April 2022
£
11,660
-
11,660
494,728
(493,000)
1,728
13,388		 Income
£
-
6,339
6,339
89,216
(489,000)
(399,784)
(393,445)		 Expenditure
£
-
(10,381)
(10,381)
(98,289)
(21,000)
(119,289)
(129,670)		 Transfers
in/out
£
-
24,938
24,938
(32,491)
-
(32,491)
(7,553)		 Gains/
(Losses)
£
-
-
-
-
1,003,000
1,003,000
1,003,000		 Balance at
31 March
2023
£
11,660
20,896
32,556
453,164
-
453,164
485,720

Page 27

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15. Statement of funds (continued)

Restricted Funds
Sport England - Primary Role
Sport England - Systemic
Sport England - Children and Young People
Sport England - Commonwealth School Games
Sport England - Opening Schools Facilities
Sport England - Tackling Inequality
Sport England - Local Workforce Development
Sport England - Programme Funding
Sport England - Other
LCC Funding
Long COVID Funding
Pre & Post Natal
Mental Health Promotion Fund
College Collaboration Fund
Total of Funds		 Balance at 1
April 2022
£
25,676
-
123,182
14,500
39
19,657
12,891
-
8,108
57,289
-
17,547
1,746
1,170
281,805
295,193		 Income
£
-
531,180
-
-
-
-
-
218,109
-
40,000
15,000
-
-
-
804,289
410,844		 Expenditure
£
-
(399,191)
(170,693)
(14,500)
-
(32,471)
(14,157)
(89,915)
(8,108)
(52,996)
(13,222)
(12,864)
(1,746)
(1,170)
(811,033)
(940,703)		 Transfers
in/out
£
(25,676)
(24,748)
56,750
-
(39)
12,814
1,266
-
-
(12,814)
-
-
-
-
7,553
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,003,000		 Balance at
31 March
2023
£
-
107,241
9,239
-
-
-
-
128,194
-
31,479
1,778
4,683
-
-
282,614
768,334

Page 28

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
Funds
Designated
Funds
LEAP
General Funds
General Funds
Pension
Reserve
Total
Unrestricted
Funds
Restricted
Funds
Sport England -
Primary Role
Sport England -
Children and
Young People
Sport England -
Commonwealth
School Games
Sport England -
Opening
Schools
Facilities
Sport England -
Satellite Clubs
Sport England -
Tackling
Inequality		 Balance at
1 April 2021
£
11,660
481,150
(727,000)
(245,850)
(234,190)
30,000
34,754
-
-
28,183
46,599		 Income
£
-
90,525
-
90,525
90,525
201,727
188,314
35,500
149,796
-
88,000		 Expenditure
£
-
(76,114)
(35,000)
(111,114)
(111,114)
(200,751)
(99,886)
(21,000)
(149,757)
(28,183)
(132,188)		 Transfers
in/out
£
-
(833)
-
(833)
(833)
(5,300)
-
-
-
-
17,246		 Gains/
(Losses)
£
-
-
269,000
269,000
269,000
-
-
-
-
-
-		 Balance at
31 March
2022
£
11,660
494,728
(493,000)
1,728
13,388
25,676
123,182
14,500
39
-
19,657

Page 29

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15. Statement of funds (continued)

Statement of funds - prior year (continued)

Sport England -
Local
Workforce
Development
Sport England -
Other
LCC Funding
Pre & Post
Natal
Mental Health
Promotion Fund
Lincolnshire
Community
Foundation
College
Collaboration
Fund
Total of Funds		 Balance at
1 April 2021
£
-
-
38,561
23,760
8,720
10,000
-
220,577
(13,613)		 Income
£
48,143
14,740
86,200
8,333
8,720
-
40,963
870,436
960,961		 Expenditure
£
(43,417)
(6,632)
(50,226)
(14,546)
(20,994)
(2,668)
(39,793)
(810,041)
(921,155)		 Transfers
in/out
£
8,165
-
(17,246)
-
5,300
(7,332)
-
833
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
269,000		 Balance at
31 March
2022
£
12,891
8,108
57,289
17,547
1,746
-
1,170
281,805
295,193

Page 30

(A company limited by guarantee)

ACTIVE LINCOLNSHIRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16. Nature of funds

Unrestricted Funds:

Designated Funds

Lincolnshire Elite Athlete Programme (LEAP) represents funds designated by the trustees to be used towards grants to Elite Lincolnshire Athletes.

Wheelchair Sports represents income and expenditure relating to wheelchair sports which are held for the purpose of running future events.

General Funds

General Funds are those funds not designated towards any project in particular and can be used towards any of the charity's objectives.

Pension Reserve

The Pension Reserve represents the year-end deficit balance on the charity's pension scheme.

Restricted Funds:

Sport England

Sport England represents funding received from Sport England for the purposes intended. From 2022-23, funding received from Sport England is either Systemic or Programme related. For 2022-23, Systemic Funding has continued to be allocated to Children and Young People activities for which a transfer has been made.

LCC Funding

LCC Funding represents funding provided by Lincolnshire County Council to be spent by the charity for the intended purposes. An element of the funding received was in relation to the Tackling Inequality programme also funded by Sport England for which a transfer has been made.

Pre & Post Natal

Pre & Post Natal represents funding received for a specific project in relation to Pre & Post Natal exercise.

Mental Health Promotion Fund

Mental Health Promotion Fund represents funding received from Lincolnshire Partnership NHS Foundation Trust to support mental health projects.

Long COVID Funding

Long COVID Funding represents funding received as part of a NHS Charities Together Partnerships Grant to provide positive experiences and accessible opportunities for Lincolnshire residents, of all ages, with Long Covid, to be active and benefit from the physical and mental health benefits that brings.

College Collaboration Fund

College Collaboration Fund represents funding from Lincoln College for an activity programme.

Page 31

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17. Summary of funds

Summary of funds - current year

Balance at
Balance at 1 Transfers Gains/ 31 March
April 2022 Income Expenditure in/out (Losses) 2023
£ £ £ £ £ £
Designated
funds 11,660 6,339 (10,381) 24,938 - 32,556
General funds 1,728 (399,784) (119,289) (32,491) 1,003,000 453,164
Restricted
funds 281,805 804,289 (811,033) 7,553 - 282,614
295,193 410,844 (940,703) - 1,003,000 768,334
Summary of funds - prior year
Balance at
Balance at Transfers Gains/ 31 March
1 April 2021 Income Expenditure in/out (Losses) 2022
£ £ £ £ £ £
Designated
funds 11,660 - - - - 11,660
General funds (245,850) 90,525 (111,114) (833) 269,000 1,728
Restricted
funds 220,577 870,436 (810,041) 833 - 281,805
(13,613) 960,961 (921,155) - 269,000 295,193

Page 32

(A company limited by guarantee)

ACTIVE LINCOLNSHIRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Analysis of net assets between funds

Analysis of net assets between funds - current year

Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior year
Tangible fixed assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
Total		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
282,614
569,215
-
(83,495)
282,614
485,720
Restricted
funds
2022
Unrestricted
funds
2022
£
£
-
3,893
281,805
547,039
-
(44,544)
-
(493,000)
281,805
13,388		 Total
funds
2023
£
851,829
(83,495)
768,334
Total
funds
2022
£
3,893
828,844
(44,544)
(493,000)
295,193

Page 33

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

19. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Bank interest received
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Defined benefit pension scheme cost less contributions payable
Defined benefit pension scheme finance cost
Defined benefit pension scheme administrative cost
Net cash provided by operating activities
20.
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents
21.
Analysis of changes in net debt
At 1 April
2022
£
Cash at bank
777,595		 2023
2022
£
£
(40,859)
39,806
3,893
4,576
(505)
(34)
35,508
(31,221)
38,951
(28,100)
6,000
20,000
13,000
14,000
2,000
1,000
57,988
20,027
2023
2022
£
£
836,088
777,595
836,088
777,595
Cash flows
At 31 March
2023
£
£
58,493
836,088

Page 34

(A company limited by guarantee)

ACTIVE LINCOLNSHIRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

22. Pension commitments

Defined Contribution Pension Scheme:

The charity operates a defined contribution pension scheme. The assets of the scheme is held separately from those of the charity in independently administered funds. The pension cost charge represents contributions payable by the charity to the funds and amounted to £13,000 (2022 - £7,000) to the nearest thousand pounds. Contributions totalling £1,810 (2022 - £1,154) were payable to the funds at the balance sheet date and are included in other creditors.

Defined Benefit Pension Scheme:

The charity operates a defined benefit pension scheme.

At the year-end, one of the charity's employees belong to the Local Government Pension Scheme (LGPS), a defined benefit pension scheme, which is managed by Lincolnshire County Council. The scheme is closed to new admissions.

The latest full actuarial valuation of the LGPS was at 31 March 2022.

The following disclosures are taken from the report prepared by Barnett Waddingham LLP as at 31 March 2023.

Principal actuarial assumptions at the Balance sheet date (expressed as weighted averages):

At 31 March At 31 March
2023 2022
% %
Discount Rate 4.80 2.55
Salary Increase Rate 3.90 3.15
Pension Increase Rate (CPI) 2.90 3.45
At 31 March At 31 March
2023 2022
Years Years
Life expectancy from age 65 (years)
Males retiring today 19.8 21.2
Males retiring in 20 years 21.1 22.1
Females retiring today 22.9 23.7
Females retiring in 20 years 24.4 25.1

Page 35

(A company limited by guarantee)

ACTIVE LINCOLNSHIRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

22. Pension commitments (continued)

The charity's share of the assets in the scheme was:

Equities
Bonds
Property
Cash
Infastructure
Absolute return fund
Total fair value of assets		 At 31 March
2023
£
1,141,000
270,000
154,000
65,000
77,000
335,000
2,042,000		 At 31 March
2022
£
1,491,000
262,000
227,000
81,000
-
-
2,061,000

The actual return on scheme assets was £(48,000) (2022 - £201,000) .

The amounts recognised in the Statement of financial activities are as follows:

Current service cost
Interest income
Interest cost
Administrative expenses
Total amount recognised in the Statement of financial activities		 2023
£
12,000
(52,000)
65,000
2,000
27,000		 2022
£
35,000
(39,000)
53,000
1,000
50,000

Movements in the present value of the defined benefit obligation were as follows:

Opening defined benefit obligation
Current service cost
Interest cost
Contributions by scheme participants
Changes in actuarial assumptions
Benefits paid
Closing defined benefit obligation		 2023
£
2,554,000
12,000
65,000
2,000
(1,061,000)
(19,000)
1,553,000		 2022
£
2,631,000
35,000
53,000
5,000
(107,000)
(63,000)
2,554,000

Page 36

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

22. Pension commitments (continued)

Movements in the fair value of the charity's share of scheme assets were as follows:

Opening fair value of scheme assets
Interest income
Return on assets excluding amounts included in net interest
Contributions by employer
Contributions by scheme participants
Benefits paid
Administrative expenses paid
Closing fair value of scheme assets		 2023
£
2,061,000
52,000
(58,000)
6,000
2,000
(19,000)
(2,000)
2,042,000		 2022
£
1,904,000
39,000
162,000
15,000
5,000
(63,000)
(1,000)
2,061,000

The actuarial report valued a pension scheme surplus of £489,000 as set out by the disclosures above. This balance has not been recognised on the basis that the balance is not deemed to be recoverable through reduced contributions in the future or through refunds from the plan.

23. Operating lease commitments

At 31 March 2023 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

2023 2022
£ £
Not later than 1 year 7,292 7,292

The following lease payments have been recognised as an expense in the Statement of financial activities:

2023 2022
£ £
Operating lease rentals 14,583 14,583

Page 37

ACTIVE LINCOLNSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

24. Related party transactions

Social Change Ltd:

Social Change Ltd is a company in which K Evans, a trustee, is a director and shareholder.

During the year, the charity received net invoices for services provided of £26,000 (2022 - £18,150). There was no balance outstanding at either year-end.

Page 38