REGISTERED COMPANY NUMBER: 07219190 (England and Wales)
REGISTERED CHARITY NUMBER: 1138947
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
SEVERN CENTRE TRUST LTD

SEVERN CENTRE TRUST LTD
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Page
Raport of the Tru$te8s
1 to 5
R¢port of th• Independent Audltors
Statgmgnt of Flnancial Actl¥ltles
10
Balanco Sheet
11
Notes to the Flnandal Stst8m8nts
12 to 21

SEVERN CENTRE TRUST LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
The Iruslees. who are also directors of th8 charitable company for the purposes of Ihe Companies Act 2006, present
their report with the finanual ststements of the charitab18 cornpany for the year ended 31 Decernber 2023. The Trustees
have adopted the provisions of the Sialemenl of R￿QMMended Practice ISORPI IFRS1021 'Acc￿Unting 8nd Reportng
by Charities, leffeclive 1 January 20191.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objeclg of the Charity are to carry ujl the following for thè benefit of th& communty wlhin the areas of
Herefordshire, the Parish of Highley and the surrounding neighbourhoods, and suth other areas as the Trustees sh811
detemiine from time to time:
to provid8 or assist in the promsion of facilities for re¢reation or other letsure time ￿¢UpatIOn in Ihe interests of social
w￿fa￿ with the intention of improving the condib'ons of life of those using the facilities.
lo organise &v8nts for reGreation or leisure tirne occupation in the interests of soaal welfarè with the objècts of
improving the conditions of life of those engaging in them.
lo relieve the needs of people who are elderty, sid( or who have Fthysical or rnen181 disabilities, or who are from socially
disadvantaged backgrounds trrough th8 promsion of r8crealional and I￿sure b'me activits'es.
lo promot& and PTeserve good health amongst the population through exercise and sport.
lo promote physical educalron and development amongst pupils and students al schools, colleges or establishments
for the provision of further or higher education.
lo advance education through the provision of libraries and other community and cullural facilrfies., and
- lo cary OLrt any other charitab18 activity subjecl lo th6 prior written consent of the Charity Commission for England and
Wales.
Vision and mlsslon
VISION,. Creating Healthier Communities
MISSION: To make a sustainabl8 and positive difference lo the peo ￿e in our communities by encouraging physical
activity and h8allhi8r lifestyle.
Strategic themes
As a Sooal Enterprise, we take our ro18 wilhin the o)mmunilies we serve seriously and see soaal responsibility at the
heart of all we do. Our four corwrale themes are..
1, To provide a Custon*r ExperienGe which exceeds expectations and attracts and r8tains customers in an in¢￿asInglY
competilNè marketplace.
2, To deliver innovative prc¥Jucts for our cuslon*rs and partners lo encourage heatthier Ilfestyles, drive revenue and
combat competition.
3, Employ and reward PeO￿e vtho add value thrO￿h th&r skills, knth￿edge and ￿rfom￿nce while delivering a lean
workforce fit for fvlure ¢halleryJes.
4. To operate a finarrially sustsinable org8nisal.on which uses commercial principles to driv8 p8rfomiancè and achieve
our VisKJn.
Sevem Cenlre's two key themes for 2023 were..
1. Achieving a greater public benefit by working wlh key partners, stskeholdets and funding organisalions lo increase
partiapation in physical activity.
2. Developing he business.
Page1

SEVERN CENTRE TRUST LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 21J23
OBJECTIVES AND ACTIVITIES
Publlc bènèflt
The board of trus188s confimi that they have complied with the duties in Section 17151 of the Charities Act 201110 have
due regard lo the Charity Commission's general guidance on public benefit.
Wè hav8 referred lo the Charity Commission ggneral guidance on public benefit when rewewing our aims and objectives
and in planning our future actNilies. In particular, the board of Iruslees consider how planned activities wll contribute to
the aims and objectives that they have set.
Diversity
The charity has a strong commf(ment to diversity incjusion and engagement and, wa its parent tharity, works with
partners to target groups and break down barriers to ath'wty and participalmjn, taking positive steps lo increase
sentstion and pa￿cIpatIon from under-rep￿enIed groups, believing in a culture of safety, valu8 and ￿ncluSion.
The parenl charity, Halo Leisure Services Limited, has partnered with the Nati￿al Centre for Diversity and has achieved
th8 Investors in Dweryty Award.
ACHIEVEMENT AND PERFORMANCE
Charitable ac￿vitIeS
FUNDRAISING
The Trustees are responsible for erBuring that the charity operates within a responsible, sustalnable finan¢Aal framework
and that il has ad8quate resoU￿e$ lo cary out ils role in educating residents in the local community. While the Trustees
may delegate n)any of the operations ol fundraising to other parts of the organisalion, they retain the responsibility for
inspiring other fundraisers, d8monslrating the perceived importance of fundraising lo the organisab'on, and
démonslrdting their leadership in this area.
In ca￿￿ng out fundraising, Ihe charity adheres lo the following stsndar(Is.'
The Trustees will have ￿gard lo the Charity Commission's publicalion'charity Fundrai&ng' ICC201.
FuThJraising activib'es carried out by Ihe charity will cornply wlh all relevant laws.
- Any cornmunicab'ons to the public made while carrying gul a fundraising activity shall be ￿th￿l and non- deceptive.
- All monies raised via fundraising acbvits'es wll be for the stsled purpose of the ap￿al and y￿17 comply vith the tharity's
slated rnission and purpose.
- The charity will comply with GDPR L8gislallon in relation lo all peTSonal data collected.
Nobody directly or indirecuy employed by or volunle&ring for the charity shall accept commissions, bonuses or
payments lor fundraising activities.
No general solicilalions shall be undertaken by telephone or door-to400r.
. Fundraising aclivitses should not be undertakèn if they may be detiimental lo the good name or ￿Mmunity standing of
ihe charity.
- AJI Trustees, casual, pemanenl and contract stsff and volunteers are responsible for adheriro lo these proc&Jures.
Fundraising activities should not be undertaken il they will expose thè charity to significant financial risk.
Complaints will be dealt Mlh in accordance vith ihe Charity CommissiDns guide CC20.
Page 2

SEVERN CENTRE TRUST LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW
Reserves policy
The Iruslees recognise the need for a reasonable an￿Unt of financial reserves in order to protect the Iwsl from the
possibility of any adverse or unforeseen c1rcumstsn￿S that could arise. The ¢urrent policy is the unreslri¢te(1 fvnd$ not
committed or invested in tangible assets held by the trust should be between six and Ihirt8en weeks of the Irusl's annual
expenditure on payToII costs, property cyerating expenses and administratron expenses. If Ih8re was lo occur a
significant drop in funding, it has identified that the trust will need to have access lo unrestrided r8S@rv8S Wth a
¢urrenl value of al least £60,000 which represents thirteen weeks of the Irusl's annual expenses. The unrestn'cted
reseTves CUTr&nUy stand al £66,616. The Trustees will re*iew the policy to ensure il remains appropriate to the needs of
the chariiable company.
FUTURE DEVELOPMENTS
2023 Perf¢)rniance
W11h increasing cornp81ition, changing Cust(￿er r8quirements, potential economic downlum, funding restrictic￿5, the
fast moving pace of18thnology and ils impact how people consume leisure. Sevem Centre now faces signrficant ￿st
pr8ssures from staff costs, primarily increases driven by the Nalional Liwng Wage, general inflats'on and rnosl
significanuy energy costs.
The centre ￿rfOrmed well during the year, opening the lido from May lo September, maintaining operational revenue
and reduang costs. This achieved a P&L surplus.
Looking fopHard to 2024
The most significant Change in 2024 is the investment in a GP surgery al the Sevem Centre, this investment estsNishes
a long-lerm r8venue stream for the sile and also bolsters the community focus, enhancing the wellbeing environment for
residents. In addition, there has also been invesknenl in gym kil and a refvrbishment of the gym space which enhances
the member Bxperience. We expect lo generate a small P&L surplus during the year and maintain cash reserves.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
A partnership between Shrop8hire Council, Highl8y Parish Council and Halo Leisur8- Leading Leisure Tnjsl and Social
EnleTPliSe.
The S8V8m Centre Twsl became a charitable company limited by guarantee (Company no. 07219190. Charity no.
11389471 on 10 April 2010, rernaining dormant until 31 March 2011 when it took over by resolution, the assets, liabilities
and undertakings of the Sevem Centre Trust (Charity no. 5225281. Witr effect from 1 October 2017 ownership of the
company was transferred lo Halo Leisure Services Limited and new a￿e$ of association We￿ adopted.
Recruitment and appointment of ngw trustees
The management of the charity is the responsibility of the INstees who are app￿nted under the terms of the
memorandum and arlidgs of the Limited company. Halo Leisure Services Limited as the charitable cotnparry's 5018
memberappoinls the trustees, al leasl one of whom shall r￿t also be a trustee of Halo Leisure Services Limited.
Induction and training of naw trustees
I new Injslees receive Ind￿tion training regarding the organisation including its powers and obl8cts and th& charitablè
company itself.
Severn Centre Advlsory Board
The chariiable CLYnpany has 8stsblished an Advisory Board comprising trustees and representatives of the local
comrnunity lo keep the community informed of key developrnenls and lo ensure the charitable company is aware of the
concerns and interest of local p*)ple.
Page 3

SEVERN CENTRE TRUST LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEME
Risk assessment
The charitable company has developed a comprehensive risk r8gisler lo identify both the risks il faces and risk mitKJalion
measure5. The document is r8viewed on a regular basi5 by Ihe trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07219190 (England and Wales)
Registered Charlty number
1138947
Registered office
Lion Yard
Broad Slreel
LEOMINSTER
HR6 8BT
Trustees
N A Sellar (resigned 31.8.231
MAWSalt
KEBush
E C Edginlon lappoinled1.2.241
J F Lee lappoinled 1.2.241
O R Whelan (appointed 1.2.24}
Company Se¢rgtsry
J G Huxley
Auditors
Mccabe Ford Williams
Stslutory Auditors and Chartered Arxountants
Building 1063
Comlorth Drive
Kent Science Patk
Sittingboum8
Kent
ME9 8PX
GOING CONCERN
The finanaal statements have been prepared on a going concem basis as the Trustees believe that no Mat￿la1
uncertainties 8XSt. The Trustees have considered the level of funds held and the expected level of income 8nd
expenditure for 12 months from aulhorising these financial statements. The budgeted income and 8xpenditure is
sufficient wlh the level of reserves for the charitable Company lo be able to continue as a going COn￿M.
Page 4

SEVERN CENTRE TRUST LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
TRUSTEES, RESPONSIBILITY STATEMENT
The tmsle8s (who are also th8 directors of Sevem C6nlre Trust Lld for th8 purposes of company lawl are responsible for
preparing the Report of Ihe Trustses and the financial stslements in accordance wlh applicable law and United Kingdom
AGcounting Stsndards (United Kingdom Generally Accepted knownting Practice).
Company law requires the trustees to prepare financial statements for each finanaal year which gNe a true and fair view
of the stale of affairs of th8 charitab18 company and of the inc(xning r8sources and application of resources, i￿luding
the income and expenditure, of the charitable company for that Feriod. In preparing those financial statements, the
tnjstees are required lo
selecl suitable ac£rAJnling Oicies and then apply them consislendy.,
- obseNe the methods and principles in the Charity SORP.,
- make judgements and estimates thal are reasonable and yudenl.,
prepare the finanrial ststemenls on the going concem basis unless il is inappropiiats to presume that the charitable
ompany wll continue in business.
The trustees are responsible for keeping proper arxounting records which disdose with reasonable accuracy al any tsme
the financial posilK)n of the charitable cvmpany and lo enable them to ensure that the financial stslements comply with
the Companies Act 2006. They are also resp)nsible for safeguarding the assets of the charitable ojmpany and hence
for taking réasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Irustses are aware..
there is no relevant audit inf¢Jmalion of which the charitsble company's auditors 8re unaware,, and
the trustees have tsken all steps that they ought to have tsken to make thèmsèlves awar8 of any relevant audit
infornialion and lo establish that Ihe audiloTS are aware of that infomation.
AUOITORS
The auditor5, Mccabe Ford Williams, will be proposed for re-appoinlm&nl at the forthcoming Annual General Meeting.
Approved by order ofthe board of trustees on ... ..
and sgned on ils behalf by:
Page 5

REPORT OF THE INDEPENDEKf AUDITORS TO THE MEMBERS OF
SEVERN CENTRE TRUST LTD
Opinion
We have audited the financaal statements of Sevem Centre Trust Ltd Ilhe 'charitable o)mpanll for the year ended
31 Dec&rnber 2023 which comprise the Statement of Financial Ath'vitses, the Balance Sheet and notes lo the financial
statements, including a summary of significant accountrng policies. The financial repoitng framwork that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accep18d Accounting Practice).
In our opinion the finantial statements..
give a tnje and fair view of the stats of the charitable wmpanls affairs as at 31 December 2023 and of its incoming
resources and applicathon of resources, including ils income and expenditure, for the year then ended,.
have been prorRdy prepared in accordan￿ with Unitsd Kingdom G8n8rally Accepted A¢cx)unling PracliLE,' and
have been prepared in a￿OrdanCe with the requirements of the Companie5 Act 2006.
Ba$is for opinion
Wg conducted our audit in accordanGe with Inlemalional Standards on AudilirG IUKI IISAS IUKII and ap￿1¢able law.
Our responsibilities under thos& stsndards are further described in th8 Audito￿, responsibilities for the audit of the
financial statements section of our report. We ar8 independent of the charilable company in accordan￿ ￿rith the ethical
requirernenls that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard,
and we have fulfilled our other ethical responsibilities In accordanc8 wlh these requirements. We believe that the audit
ewdence we have (￿tsIned is suffiaent and akwropriate lo pfovide a basis for our opinion.
Conclusions relating to going concem
In auditing the financial slatwments, we have concluded that th& Iruslees, use of the going o)ncem basis of accounting in
the preparati￿ of the financial statements is appropriate.
Basad on the wod( we have perfomed, we have not identified any material uncèrtainles relating to events or conditions
that, individually or cdlectively, may cast significant doubl on the charitable companls ability to continue as a going
concem for a period of al least twelve months from thgn the linanaal statements are authcfised for issue.
Our responsibilities and the responsibilities of Ihe trustees vAih respect lo going concern a￿ described in thè relevant
sections ol this re￿rt.
Other inforn)ation
The Iruslees are responsible for the other information. The other Info￿nal￿)n comprises the infomiats'on included in the
Annual Report, other than the finanaal statements and our Report of the Independ&nl Auditors thereon.
Our opinDn on the finanaal slalements does not cover the other information and, except lo the extent otherwise
explicilty slated in our report, we do not express any form of assurance conclusion thereon.
In connection our audit of th8 financial stslements, our responsibility is lo read the other infomation and, in doing
so, ¢onsider whèther the other infomalion is rnalerially inconsislenl wlh the financial ststemenls or our knowledge
obtained in Ihe audit or oth&Twise appears lo be materially misstated. If we identify such material inconsistencaes or
apparent material misstatements, we are required to determine whether this gives rise lo a malerial misstalemenl in the
finanaal stslements themselves. If, based on the work we have performed, we conclude that there is a material
misstalement of this olh8r infonnation, we are required to report that fact. We have nothing lo rep(wi in this regard.
Opinions on oth•r matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in th8 course of the audit..
the information given in the Report of the Trustees for the financol year for ￿lch the financial statements are
prepared is consistent ¥wth the financial stalemenls,. and
the Report oflhe Trustees has been prepared in acthame with applicable legal requirements.
Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SEVERN CENTRE TRUST LTD
Mattèrs on whlch we are requlred to report by exceptlon
In the I￿h1 of the knowledge and understanding of the charitsble company and ts environment obtsined in the course of
the audiL we have Thjl identifi'ed material misstslements in the Report of the Trustees.
We have nothing to report in respect of the fdlowing matters vthere the Companies Act 2006 requires us to r8kKJrt to you
rf, in our opinion..
adequate accounting records have not been kept or relums adequate for our audit have not been rec8ived from
branches not visited by us., or
the financial ststemenls are not in agreement bwlh the a¢￿untIng records and retums,. or
ertain disclosures of trustees, remuneration speaf1￿ by law are not made,. or
we have not received 811 the information and explanations we require for our audit., or
th8 twslees were not ents'lled lo take advantage of the small companies èxemption from thè requirement to yepare a
Stra18gic Report or in preparing the Report of the Tw51ees.
Responsibilities of trustees
As explained more fully in th& Trustees, Responsibilili8s Statement, thè Injslees (who arè also the dire¢tors of the
chaThtsble company for the purposes of company lawl ar8 responsible for the preparation of the financial ststements and
for being satisfied that they gw8 a true and fair view, and for such intsmat control as thg Iruslees delenmine iq necessary
to enable Ihe prepardlion of financial statements that are free from material misstatemen( whether due to fraud or error.
In preparing the ffinancial statements, the Iruslees are responsible for assessing the Charitab￿ rJ)mpany's ability to
nlinue as a going concem, disdosing, as ap￿iCable, matters related lo going concam and using the going ¢on¢em
basis of accounting unless the Iruste&s either intend lo liquidaie the charitsble LJ)mpany or to cease operations, or have
no realistic altemative but to do so.
Page 7

REPORT OF THE INDEPENDE￿r AUDITORS TO THE MEMBERS OF
SEVERN CENTRE TRUST LTD
Our responsibilities for th& audlt of the financial statement5
Our objectives are to obtain reasonable assurance about whether the finanaal slalements as a whole are free from
aterial misststernenl, whether due lo fraud or error, and to ISSU8 a R8PQrt of the Ind8pendenl Auditors that indudes our
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in
accordan￿ with ISAS IUKI will always detect a rnalerial misstslemenl then il exists. Misstatements can arise from fraud
or error and arg considered material if, individua11y or in the aggregate, they could reasonably b8 8xpected to influenc8
the economic decisions of users taken on the basis of these finanaal statements.
The exlenl lo which our procedu￿$ a￿ capab18 of detecting irregularities, induding frdud is detailed telow..
Our approach lo identifying and assessing the risks of material misststemenl in respect of irregulanties, induding frau¢J
and non-cornpliance with laws and regulations, was as foll¢Jws'.
- the engagement partner ensured that the engag&menl team collectively had the appropriate Competence, capabilities
and skills lo identify or recojnise non-compliance with applicable laws and regulations.,
- we identified the laws and regulati￿$ 8ppli¢able lo the charitsble company through discussiorfj with m8nagemenl and
our experience of the sector.,
we focused on sperific laws and regulations which we ¢crf)sidered tnay have a direct material effect on financial
stalernents or the operations of the charitabl& company including, bul not1imited lo, the UK charity tsx legislation.,
we assessed the exlenl of cornplia￿e with the laws and regulations id8nlified above through maknng enquiries of
management., and
identified laws and regulations were communicated wlhin the audrt team regularfy and the t8am r8mained aller b
instance5 Of non-complianc4 throughout the audit.
We assessed the suscepiibilty of th8 charitable companls financial statements lo material misstatem8nl, induding
obtaining an understanding of how fraud might occur, by..
rnaking enquiries of management as to where th&y considered there was susceplibilily to fraud as well as their
knowledge of actual, suspected and alleged fraud;
- considering th8 intemal controls in plaGe lo mitigate risks of fraud and non-compliance wth laws and regulations.
To address the risk of fraud through management bias and override of controls, we..
performed analwj'cal procedures lo identify any unusual or unexpecl&J relationships;
- tested joumal enlnès to identify unusual transactions.,
- rewewed managem&nl contacts where contract variations had arisen.,
assessed w￿ther judgements and assumptions made in determining th& accounting 8stimales set out in note 1 were
indicative of potential bias,. and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularit'es and non-compliance with laws and regulations, we designed procedures whith
included, but w&re not limited to..
agreeing finanaal stalements disdosures lo underlwng supporbng documentatic)n',
reading the minijtes of meetings of those charged wth governance,.
enquiring of management as lo actual and potential litigation and daims,. and
- reviewing Corresponden￿ with HMRC and the relewdnl regulators.
The￿ are inherent Ilmilalions in our audit procedures described above, The more removed that laws and regulations are
from finanaal transactions, the less likely it is that we would become aware of non.compliance. Auditing stsndards also
limit the audit procedures required lo identify non-complkgn¢e wlh laws and regulations to eNquiry of the Board of
Tnjslees and other management and the inspection ol regulatory and legal correspondence, if any. Material
misslalements that aris& due lo frdud can be harder lo detecl than those that arise from error as they rnay involve
deliberate concealment or collusic￿.
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SEVERN CENTRE TRUST LTD
A further descripts'on of our responsibilities foT the audit of Ihe financial stslements is located on th& Financial Reporting
Council's website al www.frc.org.ukjaudilorsresponsibilib.es. This description fornis part of our Report of the Independent
Audilrys.
Use of our report
This report is made solely lo the charitable company's members, as a b¢yJy, in accordanc8 Vith Chapter 3 of Part 16 of
the Companies Ad 2006. Our audit work has been undertaken so that we might stste lo the charitable companls
m8mb8rs those rnatters we are required lo stste lo them in an auditors, report and for no other purpose, To the fullest
extent pemitted by law, we do not accept or assume responsibility lo anyone other than the charitsble c4)rnpany and Ihe
charitable o)mpanls members as a body, for ouraudit this repDrt, orfor the opinions we have formed.
Ashley Phillips FCCA (Senior Slalutory Audilorl
for and on beha￿ of Mccabe Ford Williams
Stslutory AudiloTS and Chartered Accountants
Building1063
Comforth Drive
Kent Saence Park
Sittingboume
Kent
ME9 8PX
Page 9

SEVERN CENTRE TRUST LTD
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
31.12.23
Total
fvnds
31.12.22
Totsl
funds
Unreslrictsd
fund
Restrict
funds
Notes
INCOME AND ENDOWMENTS FROM
Charitsble activitie5
Operation of centre faulities
257,160
257,160
245,390
EXPENDITURE ON
Charitsble activities
Opeiation of ¢entre facilities
239,481
59,694
299,175
320,766
NET INCOMEIIEXPENDITUREI
17,679
159,8941
142,0151
(75,376)
RECONCILIATION OF FUNDS
Total funds brought forward
4B,937
1,988,676
2,037,613
2,112,989
TOTAL FUNDS CARRIED FORWARD
66,616
1,928,982
1,995,598
2,037,613
The notes fomi part of these financial ststsm8nls
Page 10

SEVERN CENTRE TRUST LTD
REGISTERED NUMBER.. 07219190
BALANCE SHEET
31 DECEMBER 2023
31.12.23
31.12.22
Notes
FIXED ASSETS
Tangible assets
10
1,936,310
1,995,444
CURRENT ASSETS
Debtors
Cash at bank and in hand
73,229
102,365
23,382
85,116
175,594
108,498
CREDITORS
Amounts falling due vithin one year
12
1116,3061
166,3291
NET CURREpif ASSETS
59,288
42,169
TOTAL ASSETS LESS CURRENT LIABILITIES
1,995,598
2,037,613
NET AS8Ers
1,995,598
2,037,613
FUNDS
UnTeslricted funds
Restricted funds
16
66,616
1,928,982
48,937
1,988,676
TOTAL FUNDS
1,995,598
2,037,613
These financial stslements have been prepared in accordance wlh the provisions applica￿9 to charitsble companies
subjecl to the small companies regime.
The financial ststemenls were approved by the Board of Trustees aNJ 8ulhoris8d for issue on
.7...rt-.￿￿th. .2cèllt.. and were signed on its behalfby:
TNslee
The notes fom part of Ihese financial statements
Page11

SEVERN CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
Basis of preparing the flnancial statements
The financial statements of Ihe charitsble company, whith is a public benefit entity under FRS 102, have been
prepared in axordance with the Charities SORP IFRS 1021 'Accounb'ng and Reporbng by Charities.. Stslemenl
of Recomrnended Practice applicable to d)arilies preparing Iheif accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191,. Financial
Reporting Stsndard 102 'The Financial Reporting Standard ap￿icable in the UK and Republic of Ireland, and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The significant accounb'ng policies applied in tt)e p￿paratIOn of these finanoal stslemenls are sèt tjjl bèlow.
These policAes have been consislendy applied lo all years presented unless otherwise staled.
Going concern
The financial ststements have been prepared on a going concem basis as the Trustees believe that no material
uncertainties e￿St. The Trustees have considered the18vel of funds held and the expected level of income and
expendilur& for12 monlhs from aulhorising these financial statements. The budgeted income and experKlilure is
sufficient wrth the lev81 of res8Nes for the charitable company to be able to continue as a going ￿nceM.
Company status
The company is a company limited by guaran18e and a registered charity. The members of the charitable
company are the TNStees named within the Report of the Trustees. In the event of the charitable company being
wound up, thg liability in respect of the guardntee is limited to £5 Per member of the charitablè company.
Financial reportlng standard102. reduced disclosure exemptlons
The charitable company has taken advantage of the following disclosur& exemption in preparing Ih8se financial
stslemenls, as permilted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland,:
the requirements of Section 7 Statement of Cash Flows.
Incoming r8sour¢¢8
Items of income aTe recognised and included in the accounts vthen all of the following criteria are mel..
i. The Charitable Company ha5 entillernenl lo the funds.,
ii. any performance Condit￿n5 attached lo the ilems of income have been mel or are fully within the control of the
Charitable Company.,
iii. there is sufficienl ￿rtaInty that receipt of the income is considered probable., and
iv. the amount can be measured reliably.
Income repfftsents net sales of goods and services, excluding Value Added Tax and discounts lo customers and
management fees. Income received in reSP￿t of future events has been deferred and will be released when the
event i8 complete or over the period lo which the income relates. Membership income is deferred over the period
of mernteTrhip.
Thè management fee is an unrestricted fund which is available for use al th8 discrelK¥n of the Trustees in
furtherance of the general objectives of the Charitable Company. Ino)me r8ceived for capital expenditure is
treated as deferred income and is cr&diled lo the Statement of Financial Activities by instsllments over the
expected usefvl economic lrfe of the related asset on a basis consistent wlh the depreciation policy.
Page 12
contirnjed...

SEVERN CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS. continued
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES. cont]nued
Resources expended
Liabilities are recognised as expenditure as s(xJn as ther& is 8 legal or wnstnjctive obligation fximmrtting the
charity to that expenditure, il is probable that a transfer of economic benefits will be required in setuement and
thè amount of the oNigation can be measured reliably. Expenditure is accounted for on an accruals basis and
has been ¢lassified under headings that aggregate all cost relaied ILI the category. Wherg costs cannot be
d1￿cl1Y atlribuled to particular headings they have been all(taled lo activities on a basis consistent with the use
of resources.
Tangible fixed assets
DepreGialion is provided at the followng annual rates in order to writè off èach asset ov8r its eslmated useful life.
Fr86hold property
Plant and machinery
Fixtures and fittings
20/0 on cost
15% on cost
15Yo on cost
Assets costing more than £1,000 are capitallsed.
Related party 8xemption
The charitable Company has tsken advantag& of exemption, under the terms of Financial Reporting Standard
102'The Financial Reporting Standard ap￿1[￿ble in the UK and Republic of IreLand', nol lo disdose TrL41ed party
transacb'ons with wholly owned subsidiaries within the group,
Taxalion
The charrty is exempt frw ccffjoration tsx on ils charitable a¢tNilies.
Fund accountlng
Unrestricted funds can b8 used in accordance with th8 charitable obje¢liv8s al the discretion of the trustees.
Rèstricted funds can only bè used for paitcular restricted purposes w(thin the objects of lh9 charity. Restrictions
arise when specffied by the donor or when funds are raised for paitcular reslricled purposes.
Further ewanation of the nature and wrposg of eaGh fvnd is induded in the notès to the financial ststemenls,
Debtors
Trade and other debtors are recognised al the settlement amount due after any trade discount offered.
Prepayments are valued al the amounl prepad net of any trade discounts due.
Cash at bank and in hand
Cash al bank and ￿sh in hand indudes cash and short tem highly liquid investrnents with a slK>rt maturity of
three months or less from the dale of acquisition or opening of the deposit or Similar account.
Creditors and provisions
Creditors and provisions are recognised whère the charity has a present obligatlon resulting from a past event
that will probably resLsII in the transfer of funds to a third paty 8nd the amount due lo setlle the obligation can t
measured or eslimaled Teliably. Creditors and prow&C￿S are nomially recognised at their setuemenl amount
after allowing for any trade discounts due.
Page 13
contiThJed...

SEVERN CEMTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES- continued
Financial instruments
The trust only has financial assets and ffinancial liabilibes of a kind that qualify as basic financial instrum8nts.
Basic financial instruments are initially r8cognised at transaction value and subsequently measured al their
settlement value with the exception of bank loans which are subsequenly meaSU￿d at am0￿Sed cost using the
effective interest method.
Signifi¢antjudgements and estimale$
In the application ol the charilable company's accounting polici&s, management is required to make judgernents,
eslimales and assumptions about the carrying value Df assets and liabilities Ihal are not r8adily apparent from
Othgr sources. The estimates and undertying assumptions are based tjn historical experience and other factors
that are considered relevant. Actual results may differ from these estimates. The estimates and underlwng
assumptions ar8 reviewed on an ongoing basis. Revisions lo accounting estimates are rerx)gnised in the period
lo which the estimate is revise(J if the revision affects only that peTiod or in the period of thè revision and futu
periods rf the revision affects both current and future P8riCKls. The key sources of estimation uncertainty that
have a significant effect on the amounts ￿CogniSed in the finanrjal stslements ar8 the depreciation charges that
are calculated referen￿ to the useful economic life of fixed assets.
INCOME FROM CHARITABLE ACTIVITIES
31,12.23
31.12.22
Activity
Centre activities & related
income
Management fees
Operation of centre faeilities
Operaty'on of centre facilities
158,116
99,044
154,011
91,379
257,160
245,390
CHARITABLE ACTIVITIES COSTS
DireGt
Costs (see
note 41
Support
costs (see
notè 51
Totals
Operation of centre facilities
161,577
137,598
299,175
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continued...

SEVERN CENTrE TRUST LTD
NOTES TO THE FINANCiAL STATEMENTS . continued
FOR THEYEAR ENDED 31 DECEMBER 2023
DIRECT COSTS OF CHARITABLE ACTIVITIES
31.12.23
31.12.22
Staff costs
Other stsff costs
Bar, catering & vending
Bad debts
Deprecial'on
94,982
461
103,903
472
16971
17161
64,317
4,500
61,634
161,577
167,279
SUPPORT COSTS
veman¢e
costs
Management
Totals
Operation of ￿ntr8 fa¢ililies
128,053
9,545
137,598
Support costs, Included in the above, ar& as follows..
Management
31.12.23
Opèration
of centre
facAlilies
31.12.22
Total
ac*vitses
Propety costs
InSUTance
Administrative costs
Manag8ment fee
Postage and stationery
AdVe￿$Ing
Sundries
Legal and professional fees
Irrecoverable VAT
77,303
8,800
16,040
20,001
82
1,563
1,183
408
92,353
8,660
14,727
20,004
223
357
3,034
1,490
128,053
144,789
Page 15
)nlinued...

SEVERN CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS. ¢ontlnueil
FOR THE YEAR ENDED 31. DECEMBER. 2023
SUPPORT COSTS- continued
Govemance costs
31.12.23
Operation
of centre
faGilities
31.12.22
Total
actiMIiÈs
Auditors, remuneration
9,545
8,698
NEf INCOMEI(EXPENDITUREI
Net inc0mel1expendi￿TeI is staled after chargingl(creditirol-
31.12.23
31.12.22
Auditors, rernuneration
Depreaalion . owned assets
9,545
61,634
B,698
64,316
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year
ended 31 DecernbeT 2022.
TNstees' expens•s
There were no ts)Jstees' expenses paid for Ihe year ended 31 December2023 nor for the year ended
31 DeCeM￿r 2022.
STAFF COSTS
The averdge monthly numbèr of employees during the yearwas as follows:
31.12.23
12
31.12.22
11
Operation of centre faul￿18$
No employees r8c8ived emoluments in excess of £60,000.
Page 16
contiwed...

SEVERN CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS- contlnued
FOR THE YEAR ENDED 31 DECEMBER 2023
COMPARATIVES FOR THE STATEMEKf OF FINANCIAL ACTIVITIES
Unrestrictèd
fijnd
Restricted
fvnds
Totsl
funds
INCOME AND ENDOWMENTS FROM
Charitable activities
Operat#)n of centre faaliti8S
245,390
24S,390
EXPENDITURE ON
Charitable activltles
Operation of c8nlre lacililies
261,922
58,844
320,766
NET INCOMEIIEXPENDITUREI
(16,5321
158,844)
(75,3761
RECONCILIATION OF FUNDS
Total funds brought forward
65,469
2,047,520
2,112,989
TOTAL FUNDS CARRIED FORWARD
48,937
1,988,676
2,037,613
10. TANGIBLE FIXED ASSETS
Fixtures
and
ffttings
Freehold
propety
Plant and
machinery
Totals
COST
Al 1 January 2023
Additions
Disposals
2,942,261
229,173
2,500
32,8501
401,868
3,573,302
2,500
32,8501
At 31 Decetrber 2023
2,942.261
198,823
401,868
3 542 952
DEPRECIATION
At1 January 2023
Charge for year
Eliminated on disposal
953,585
59,694
222,405
1,940
32,8501
401,868
1,577,858
61,634
32,8501
AI 31 D8C8mber 2023
1,013,279
191,495
401,868
1,606,642
NEf BOOK VALUE
At 31 Decernber 2023
1,928,982
7,328
1,936,310
At 31 December 2022
1,988,676
6,768
1,995.444
Page 17
continued...

SEVERN CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS . continued
FOR THE YEAR ENDED 31 DECEMBER 2023
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23
31.12.22
Trade debtors
Prepaymen15 and accrued inu)me
72,112
1,117
22,265
1,117
73,229
23,382
12. CREDITORS: AMOUNTS FALLING DUE WITHIM ONE YEAR
31.12.23
31.12.22
Trade crediloT5
Amounis owed lo group undertakings
Social security and othèr taxes
Other creditors
Deferred income
Accrued expenses
8.377
66,317
8,309
301
11,813
21,189
9,723
3,506
22,590
549
10,168
19,793
116,306
66,329
13. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operdling18ases fall due as follows-.
31.12.23
31.12.22
Within one year
320
14. SECURED DEBTS
Th8 charws parent company, Halo Leisure SeNces Limited, look oul a £750k Coronavirus Business
Inl&rruplion Loan Scheme ICBILSI in 2020 to support ts operations. The loan is s8(#Jred against 811 of the
charity's assets by way of fixed and floab'ng charges.
As al 31 December 2023, the remaiiing liability outstanding to the bank was £425k12022'. £575k).
Page18
continued...

SEVERN CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.12.23
Totsl
nds
31.12.22
Total
funds
Unrestricted
fund
Restricted
fvnds
Ffxed assets
Current assets
Current liabilities
7,328
175,594
116,3061
1,928,982
1.936,310
175,594
116,3061
1,995,444
108,49e
66,3291
66,616
1,928,982
1,995,598
2,037,613
16. MOVEMENT IN FUNDS
Nel
movement
in funds
Al
31.12.23
At1.1.23
Unrestricted fvnds
General fijnd
48,937
17,679
66,616
Rèstrlcted funds
Severn Centre Building Fund
1,988,676
159,6941
1,928,982
TOTAL FUNDS
1,995,598
Nel movement in fijnds, induded in the above are as follows..
Incoming
resources
Resou￿$
expended
Movement
in fijnds
Unre$trictsd fund$
General fijnd
257,160
1239,481)
17,679
Restrictsd fvnds
Sevem Centre Building Fund
159,6941
159,694)
TOTAL FUNDS
257 160
299,1751
42.0151
Page19
ntiwed,..

SEVERN CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS- continuèd
FOR THE YEAR ENDED 31 DECEMBER 2023
16. DAOVEMENT IN FUNDS. contlnued
Comparatives for movemènt in funds
Nel
movemenl
in funds
At
31.12.22
Al 1.1.22
Unrestrlcted funds
General fund
65,469
116,5321
48,937
Restricted funds
Sevem Centre Building Fund
2,047,520
158,8441
1,988,676
TOTAL FUNDS
2,112,989
75,3761
2,037,613
ComparalNe n8t movefflenl in funds, induded in the above ar8 as fdlows..
Incoming
resources
R8sources
expended
Movement
in funds
Unrestricted funds
General fijnd
245,390
1261,9221
11fj,5321
Restricted funds
Sevem Centr8 Building Fund
(58,844)
158,8441
TOTAL FUNDS
245,390
320,7661
75,376)
Severn Contre Building Fund
Th8 buildings were funded by grants and ar8 restricted for use by the Sev8m Centre as leisure faali1188. The
balance is reducing as the buildings depreciate.
17. ULTIMATE PARENT COMPANY
The ulb'mate parent company is Halo Leisure Semces Limited, a Charity incorporated in England & Wales.
Page 20
contil￿ed...

SEVERN CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
18. RELATED PARTY DISCLOSURES
Ther8 W8r8 no r81at8d paty transad'ons for thè y8ar8nd8d 31 D8cember 2023.
Page 21