Company regisiration nurnber.. 07451733 Charity registraiion number: 1141018 Achieve Lifestyle (A company limited by guarantee) Annual Re[￿ and for the Year Ended 31 Ma￿h 2022 Stewart & Co Accoun13nts LLP Knoll House Knoll Road Camberley Surrey GU153SY Ill *ABISQZ7T• 13112r2022 CCthIPANIES HIJJSE #330 Achieve Lifestyle Contents Refererhce and Adminisiraiive Details Trustees. Report 2to12 Statement of Trustees, Respon5ibilitie5 13 Independent Auditors, Report 1410 17 Statemeni of Financial Activities 18to 19 Balance Sheet 20to21 Statement of Cash Flows 22 Notes to the Financial Stattment5 23to41 Aehieve Lifestyle Reference and Administrative Details Chief Executive Otri¢e H Aitken Trnstees H Aitken P G Robinson J Taylor K W Phillips (appoirtied 2 July 2021) K Heal Mr E O'shea (appointed l June 2022) Seeretary M Evans H Aitken, Chief Execuiive Offlcer M Evans. Business Director Register¢d Off*e Egham Orbit Vicarage Road Egharn Surrey TW20 8NL Th¢ charity is inwry)orated in England & Wales. 07451733 Compgny R¢gistr*tion Number Charity Registrgtiom Nurnber 1141018 Soliciiors: Barlow Robins LLP Concord Hou 165 Church Street East Wokins Surr¢y GU216HU Bankers The c1￿0P¢￿tive Bank l Balloon Strttt Manchemer M4 4BE Auditor Stewart & Co Accountants LLP Krholl House KrKTrll Road Camberley Surrey GU15 3SY Page I Aehieve Lifestyk Trustees, Report The trusiees. who are directots for the PUTposes of company law. present the annual report toðeT Wlth th¢ fin*n¢ial statements ofthe charitsble company for tht year ended 31 March 2022. Obje¢tiv¢$ #nd aclivities Objects and oimf Achieve Lifestyle h&% been established for the benefit of the public for the following PUTW)ses'. The provision or assists￿¢ in ihe provision of fa¢iliLies ar)d s¢rvi¢¢s for recreation. amateur sFy)rt or other leisurc tIrnE occupalion and thc int¢re5t of social wclfare. such facilities rnay be provided to the public save that special facilities may bt provided to persons who by rea50n of their youth. ase. infirmity or disability, poverty or social or economic circum5tsnce$ may have need of special facilbiies or 5ervict5. The advan¢emeNi aDd support of edu¢atLon. in particular educaiion on sport, ¢uliuTe. the arts. heriiage and history (including the provision of museurns. gajleries. learning and information Cenlres. librarie& archive5 and other related services). Th¢ promotion and pr¢s¢ryatiort of good h¢alth ihrough community participation in h¢althy Tecreation.. andlor other such charitable purposes beneficial io the publi¢ and consistent with ihe objects above. Is the Trustees shall in their absolute discretion dtterrnine. p￿￿liC benefil Achieve Lifestyle has been e￿abliShed for ihe benefii of ihe public for the provision or a$515tance in the provision of facilities and services for healih. leisure and recreatioTh lime occ￿patIOn and in the interest of social inclusion and engagemeni and the promotion and preservaiion of gocA health through community port1¢ipa¢ion in healthy r¢creation. The public benefils Staternent forms the basis for ￿1 judgements regarding operational rerx)rt8 to the Board meetings. in order to be re&85ured ihat ihe facilities and service5 currenily managed by the charity coniinlle io me¢i thes¢ Criteria. Ai ih¢s¢ me¢tings the Chief Executiv¢ pr¢s¢DiS the up ￿ d*e finan¢ial position. and operaiioval budget perforTnan¢e alld new iniliaiivcs in liNe wilh SirJiegL¢ plaThs. The trustees confinn that they have cornplied with ihe requirernents of section 17 of the Charitie5 Act 2011 to h8v¢ due regard io the publie benefii guidan¢¢ published by the Charity Commission for Englatld and Wales. Pa8e 2 Achieve Lifestyle Truste￿, Report Achievements and perform8nee Achieve Lifestyle's purpose and vision is "htlping make things achievable" for our local ¢OmTnunity. and its mission is 'lo be ihe leadin8 heali￿ leisure and w¢llb¢in8 provider within the local community- and is represenied by its desiie ¢0", Expand the sports. leisurt and wrllbeing programme to encourdge incrustd participatitin and health improvements wiihin the community. B¢ inclusiv¢ of (he Community offering a wide rang¢ of physical aciivity, h¢a]th and wellbeing opportuniiies. Offer ex¢¢lleni value for nw)ney • Offer creative 3nd engasin8 way5 of helping to keep the cornmunity healthier. • Deliver excellent and consi51eni customer service. Achiev¢ Lifesiyle's key ihem¢5 for 2021-2022 were" Ensure financi￿ bc5t practhcc and excellrnt audii and governance in adhered to ron5i5tently. by operating in a cost effective manncr. Have a positive approa¢h io facility and equipn￿oI planned mainienance atml In￿StMent, io be safe for operarional readiness. To siriv¢ io b¢ at) ex¢ell¢o( employer, investing in sthff. rraining and offerit)g pathway5 for developmeni, and SUPF¥)rting our people throughout the paThd¢mic. Monitor our standards and procedures to ensure saftty i5 Para￿K)unt. Based on th¢ vision and them¢s followng achievements wrre delivered. Pagc 3 Achieve Lifestyle Trustees, Report So¢i*l Imp4et *nd Publi¢ Bentfit Sport Recreation #nd Leisure- Impact of Re5trittlOlls in the Retovery PhAst On 12th April 2021. HM govemment allowed Ihe ieopening of closed leisure fa¢¥li1￿$ due to the third national lo¢kdowD. The national lockdowrLS amounted io having all faciliti¢s c105¢d for. 12 days in 2019-2020 233 days in 2020-2021 I I days in 2021-2022 De5Plte ihe ability to reopen from 12ih April 2021, resrriciions and challenges coniinued through to July 2021 and in some cases beyond these Included. • Outdooi activities only for group exercise. this resulted in limiied classes and capacities at Egham Orbit. and no access to classe5 at Addlestone htalth & Fitness. The5¢ restrTrctlOns coniinued until 17ih May 2021, when indotsr classes resumed. albeit with lirThited C3PaCIILes due to ￿)CIal distancing me&sure coniinuiThg for some lim¢ into 2021. • Sports restrictions by a number of naiional goveming brNJies for various SFM)rts. which had a signifi¢ani impa¢t on being able to fill spons space in the early months of 2021. The swimming sessions were limited io reduced Capacities for lane swimmin& which was in line with Swim England suidelines. Swim lessons were reduced in lime from 30 minute5 to 25 minutes to allow the classes io avoid ¢ustonKr crossover. and maintain changing room ￿)Cial distancing. Other restriciions ihai were not lifted until July 2021 included th¢ inability w offer ￿esS for soft play. and children's parties. . Throughout the recovery phase the business m(xJel had been chalknged fvrthrr in the early monihs of 2021. a5 all Customers weTe required to book in advance their activity. this had knock on challenges with customtrs who had little access to online iK)okirb8 facilities. It was a150 noted that due io the pandemic fvrther unplanned impacts occurred including". Hesita￿Y - of defined demogrophics r¢iumir)g pand¢mi¢. due ¢0 their spe¢ifJ¢ health vulnerabtlities. Affordability - M¢mb¢rship numb¢T dropping by third5. primarily duc to uncertainty by members OTh their personal finance5. Alternalive COM￿tItion online fiine55. a5 people wcre forced th find their means of exercise in the confines of their home. and a huge surge of health and fjtness online content flooded ihe matkei. Addlestone membership - has been slower to re¢ov¢r than Egham. the reason for this is increased competition plus the n¢¢d ￿ remarket facilities under th¢ thew brandLlIg_ A rebuild of the business of the tru51 3kin to a start-up business again. due lo rhe known effects of thr¢e lockdown5 and the customers poienlially firKlin8 aliernaiive suppliers for their wellbeing, h¢alth and fJin¢ss needs. All of ihe aix)ve have all ¢ontiibuied io 8 reductiort in geoeraiing in￿rne and on nornal businc55 perfornance. whilst fvller costs have Coniinued. including additional health and hygiene costs. Page 4 Athieve Lifestyle. Trustees, Report Co•nmunity ImpotY- He4lih & Wellbeirt8 Despite the challersges faced by the posi p3ndemi¢ recovery. a number of p)SLiives were realised. • Membership numbers stsrt¢d w rethrn and increa5¢d month on month at Orbit. Providing ¢omp¢iiiive and social value pricing 10 assiu in meeting comrnuniry affordability. to help encourage a¢¢ess and opportunity by the widest community. Customer satisfaction levels have been ¢oDsisteDily vEry high. to- o Positive and timely cu5tomcr communicaiions. o Affordability and social pricing structure resuhing in Vdlue for rnoney. o Being accessible and open as soon as lockdowms were lifted o The impaet of enh3nced hygiene me&sures. o Offering quality programmed activity programm¢. o Being rea¢iive to Tequired changes in supp)rt of ¢￿￿Mer saiisfa¢iion. Young People . Swim lessons continued io increase to levels higher than pre pandemi¢. A notable shift in ihe number of young people increasing their pani¢ipation in spon and w¢llb¢ing aciiviiies than in previous years. • Supporting the local swim club5 wilh 5ub5idi￿J ￿01 hiwrs. Disabillty Providing discounted acces5 10 f￿lIllieS for groups and organisin& ￿ alkjw them to thrive. includin8 Egham Coost¢llations disabiljry swim ¢lub and other community disability groups. Providtd a¢¢ess ¢0 specialist play Sessio￿ for Brightlights. a ¢lub ftsr young people with disabililies. Corporate responsibility The development of beiThg environmenially sysiainable Is a pnonty in our widertakings, in doing so our ¢ommith)eni is den￿nStra￿d ihn)ugb our Environmental Policy which stsi¢s • Generate and harvest Photo Voltaic energy from roof solar panels al Egham Orbit, for ¢onsurnplitsn need. Seek erbergy improvements ar￿ ctTicierKies where Practical. financially Prudent and achievable. thi5 includes making use of technology e.8. all lights are LED. heatiri8 and ventilation systern5 are OTh timer5. Minimise was¢e by implementing green iniliaiives such as "keep cup" disco*Jnis In our food and beverage offeiings as well a5 provide thrther education to staff and customers on the benefits of minimising waste. Develop further ITaining and ir>foTmo¢ion programmes for sthff ￿ raise awareness of environmental issues and enlist their support in irnproving Sustsinability Standards. Encourdge ihe use of supplier5 and contractOT5 wlbj have adopted sound environmental solulion5 to reduce their own impact on the environment . Continue to work with local suppliers to help reduce travel times and carbon emissions Pag¢ 5 Achieve Lifestyle Trustees. Report Financial review Results are for the year erbded 31 March 2022 The main fvnds are raised from the g¢n¢rnl public in exchange for tsking part in healih, wellbeing and sports and leisure services. Income for the year ended 31 March 2022 £2.939,268 atKI to#1 e%pendilure for th¢ year was £3,226,746. The Charity generated positive cash fiows in the year to 31st Marth 2022. At the end of March 2022 cash held by the Company totsll¢d circa £543k {2021'. £324kl. Achieve Lifestyle rewrted a d¢ficii of £1.415.030 00 the genernl unrestri¢te4J thnd. The vast majoiiiy of this dcfi¢it o¢cyred in 2021 dur to the signfirant aff￿1 of the pandemir on the le5uire industry. The deficit 15 du¢ to the ongoing rrtovery of the Covid 19 pandemic. through ILKkdowns, government rcstrictions. social di5thncing ar￿ customer confidence. We have anticipated ihat the 105s of irbcome ha5 been approximately £2.3m over the three lockdown> Poliry OA reserves Trustees regularly review Achieve Lifestyle'5 Reserves Policy. Trustees have approved a keserves Policy in line with guidance issued by the Charity Commission. The purtKJses of these res¢rves is to safeguard trA)th against signifi¢ani loss ID in¢om¢ and any unfor¢seen •Jv¢rse ¢ir¢umsthn¢es io facilithie ihe coniinuance of the deliverathce of the charitable company's swed objective. Achievc Lifestyle's reserves policy is to have frec reserves btfore FRS 102 adjustments. The Trusttes policy is, taking into account the charitYs financial circumstances and other relevant faeiors. io rebuild reseThes io a level Ihat facilitates the Compan￿$ resilien¢e and ¢apacity io manage ￿nfor¢s¢¢n finan¢io1 diffi¢vlii¢s. Free reserves of the Charity. after pension reserves. amounted to -£2.039.030 {2021= _£2.024.552) at the y¢ar-¢nd. Thi5 is. as to be expected. significantly differenl than in ihc years pre-parmlemic. which saw continued cxpenditure and limited opportunities to 8eneraie incornt outsidt of lockdo￿5. Posi Pandemic. Ihe anii¢ipaiion is ¢ha¢ there wll be a rtbuild in recovery of the reserves fvnd to a much higher level. to proieci the business for future shocks. This will take a number of years. and will affect business decisions ensuring ihai the rebuilding of reserves is a priority for the business. There is a fund set up post year end to build the reserve5. with monthly contributions for unfoT¢se¢n capitsl maintenance requirements. This fund will be Increased In line with affordabjlity. with the target of obtsining a Tcserye fund of 6 mtsDths operatjonal expenditure as soon as practically possible. Page 6 Achieve Lifestyle Trustees. Report Principal risks uncertainties The Tru5tee5 have a duty to idenlify ar￿ review the risk5 to whtch the charity 15 exposed and to ensure appropriate contro15 are in place to provide reasonable assurance against fraud. error and non-compliance with relevant 5taiutory regulaiions. The Financial. Compliance and Human R￿￿ul¢¢ Sub Committtt of Trustees Theets quarterly and has an annual schedule of statutory gov¢rnarKe chcck5 to en5urc complianct is maintained and achieved. this include5 a review of company policies. procedures and activities to ensure that the Trust meets their le8al and statutory obligations thus n)Inimising risk to whi¢h ihe ¢harity is ¢xposed_ Pmcedures a￿ also in place io comply with healtb aod safety legJsla¢ion- this includes a Healih and Safety Policy. ThEre is also external support from a specialist health and safety con5uliancy which includes meeiing5 with the nominated health and Safety lead staff. The purpose of the meeiing is to review all systems aThd safe working Practices, including risk assessments fire safety and support for ensurin8 a safe and consistent approa¢h is undertaken for insurance purposes. Due to the pandemi¢ and ¢he ¢urreni recovery phase unrealisiic rer￿ being charged by the lavdlord and their acknowledgement of this. after a period of le￿￿Y negotiation. the Itase of Achieve Zone was SUTrendEred, with no further liability of the lease, and ihe impad h&s been increased fJnarKial stability for Achieve Lifestyle. Whilsi unlikely as ihe re¢ov¢ry phas¢ is going as well as planned. and ihai no fvrthei t)aiional lockdowns occur. it is anticipated that whilst ihere Is no certainty. thert is a synall risk insofar as membership bevels reiuming to pre pandemi¢ levels. The major ri5k5 to which thc T￿￿ could bE exp)5ed to have been reviewed and actions are urbdertaken to help mitigale these risk5. The key risk re8ard5 ren4 and discw5Lon5 tsken plac¢ over the last years the Trum's landlord IRunnymed¢ Borough Council) In ￿83[d5 to a reni review. The dis¢ussions stslled during the pandemic, and 10 cnablr and ensure a fair rcnl ill th¢ rurr¢Tht climate p05t pandemir and going fonvards. the trust has operated an open book transparent appToarh to it5 financial information. The tru51 15 keen to agree new rental tem15 Wlth the landlord and have an agreement in place w repay agreed back Terbt thai has not been able io be paid due to ihe effects of the pandemic. In temis of other risks, management sys*ms coniinu¢ ￿ be e5tablisl*d with remedial aciions being tsken, to help minimi5e or alleviate any risk where POS5ible. in the pursuit of a stable financial positK>n. particularly a5 a result of emergin8 through from the Covid 19 pandemic. The trust is not exposed w ¢yrTe￿Y risk and has minimal ¢xp)sur¢ to inte￿1 rnte risl pri¢e risk or mark¢t Tlsk. Page 7 Achieve Lifestyle Trustees, Report Plans for future periods Aims t7nd key objeuivesf&rfuthreperiod$ Achieve Lifestyl¢ shall ¢ontinu¢ to work closely with Runnymede Borough COU￿1[ and oih¢r partt*rs. to deliver quality services to strenyhen at)d dev¢h)p the ¢ontyibution thai kisu￿ Can make ro the quality of lifE of the local community. Partnership work conlinues with the NHS throu8h Ashford & St Peters H05pithI Trusi for physiotherapy r¢habilitation. as Egham Orbii has become a"physio hub in ibe ¢ommuDity" venue. Further NHS services being devrlopEd are in plrlnership with anaesthetists at Ashford and St Peterfs h05Pital and redeveloping perioperative paihways for surgical patients. primarbly colorectal Cancer pati¢Thts for peopl¢ preparing for and recovering from ¢olon ¢an¢¢r treatments. Therapist staff also offer spe¢ialisL cancer iouch iheTapy treatmertts through specially trained A¢hicve Lifestyle staff and specialist product& delivering a bespoke rdnge of Em>wings will be held in ￿$h reserves. to gain interest. The current priority is to ensure that any surplus cash is available at short notict to provide Short ttrni liquidity and pro¢e¢t the business from wiplanD¢d poy Covid ¢hallenges_ Pagc 9 Aehieve Lifestyle Trustees. Report Going con£er Achieve Lifcstyle been deeply affected by the Covid 19 paThdemic a5 a result of lockdowns, which have reduced income by significant levels. Thertfort during 2021- 2021 to pmie¢t the for fiLiuff solv¢n¢yJ and build on opportunities as Irading improves." Seek io find an agreement wth the landlord (Runnymede Borough Council) on rents payable and owed by providin8 transpareni open book financials to council a¢￿￿rtIants, ￿ ensure fair and affordoble renrs ¢an be agreed. . Reviewing all cotLtra¢tual agreetneThts regularly with supplitrs. athd phased payment agrccmrnts where p05sibl¢ to aid cash flow. . Securing longer terni Lrtility contracts during periods of financial uncertainty to aid b￿jg¢1 managemeni. Cancelling conrracis If circumstances allowed saving financial resources ¢0 help long-¢em recovery. . A staffing review and restructure was undertaken w ensyr¢ the orgaThisaiion is fjt for purpose. Lookirbg to the end of 2022 and beyond. the Achievc Lifestyle board and senior management team are confident that Achieve Lifesiyle will return to operating wilh a 5UTpIu5, once rent levels have been agreed with the landlord (Runnymed¢ Borough Council), thus allowing A¢hi¢v¢ Lif¢styl¢ to have a strong and viable fu￿re business. Trn5tees otricers The trustees and offlcers servin8 duriTh8 the year and sirKe the year end were as follows: TTusletS.' H Aitktn P G liobinson J Taylor K W Phillips (appointed 2 July 2021) K Heal Mr E O'shea lapp)inted l June 20221 Chief Executive officer.. H Aitken S¢¢reiary= M Evans SenioT Managemeni l Leaderthip Team.. H Aiiken. Chief Executive Officer M Evan5, Business Director W Midmore. Operdtion5 Director (resigned l April 2022) Strutturt? governante and manageMe￿t Nqlure ofgoverning The chariiable company is ¢o#siiiuied uTrJer a Trust deed artd is a registered charity number 1141018. It does not have any subsidiary underthkln￿. The charitable company is controlled by its governing document The Memorandum and Arri¢les of A$s￿la&10n and constitutes a company limited by guaraniee as defined by ibe Companies Act 2006. Page 10 Achieve Lifestyle Trustees, Report Recrtsiimeni oppoiftlmefti ofirnslees Recruiiment of trnstees 15 done through advertisernents &s and when vacancies arise, a [￿Minated sub-board of trustees then approve suitabl¢ applicants based on the need io support ihe ongoiTh8 development of th¢ trust. Under tht Company's Memorandum and Article5 of AS￿)ciali0n. the I￿￿tee5 elected to serve for a period of Ihr¢¢ years after which they are eligible for re-election at the r￿xt Annual General Meeting. Induciit>M 4ndir4inin8 ofirmsiees New DIT￿lOTS l Trustees undergo an induction 5e5sion with ihe Chief Executive and Business Dire¢ior I Company Se¢reiary, io brief them on their 5egal obligations under Charity and Company law. the conteni of lh¢ Me¥noTanduTD and Arti¢l¢s of Asso¢iwion al th¢ de¢ision-making processes ai board me¢iings aDd sub board meetirbgs. They are provided with an ir)du¢iion pack and site visits I guided LOU￿ ¢0 all venues. Training foi Trustees 15 regularly monitored and revie￿￿d. Orgollisotiollolsfructhre The Company 15 rnade up of up to 5 iTU51ces. one of whom 15 Ihc Chief Ex￿Ul1Ve in an ex olTicio role. The comp051tion and size of the Board 15 rcvicwcd regularly to asse55 Skills requirement of the Board for it to meet the needs of the Charity. The directors of the Company are a150 charity Iru51tt& for the purpose5 of charity land legislation. All dire¢tors {ex¢luding ihe Chi¢f Execulive) give ih¢ir time voluothtily_ Any expenses reclaimed from the ¢harity are sd ou¢ in the acuJunt5 under Trustees RcmuncrntioD aDd Expcnsrs. The board meetings take place 4 times per year. with a cornpliance sub group which meets &s a minimum for the same number of times per year. The Sub group covers financial. HIL audii a[￿ governance. The decision making process is thai Trusrees are responsible for (he sound gov¢man¢e of th¢ trust, by making sure the organisation runs smoothly and that funds are properly managed. The Chief Executive IEads the management tcam in all aspects of Strategic dcvrlopment and optratitsnal rnanagemcnt decision makirbg. A register of TA￿tee5 relevdnt interest5 l5 maintsined and updated regularly. There are no fvnds held as custodian trnstees on behalf of others. Pagell Aehieve Lifestyle Trustees, Report Employee iwvolvemefti A¢hieve Lifestyle continues io aciively engage wilh its workftsrtt. striving to be a great place to work. giving colleagues job saiisfaction and reviewng opportunities for development. All staff receive a comprehensive perforniance review, with associaied p¢rsot)al developmeni training plans. Achieve lifestyle regularly comrnunicates wilh staff through department and team meetings. all staff meeting5. stsff newsletter. staff handlMx>k and generdl feedback. Achieve Lifesryle regularly monitors developments in the exrernal environmeni for new ways io ¢ommuthicaie and ¢ngage and a￿ cunrnily iooking at greaier digital ¢ommuni¢a¢ion iCM)Is. Achie￿ Lifestyle ha5 a range of policies in place to support staff, they include Health & Safety Policy, Access arbd Opportunity (Equality), C￿e of Conduct, Staff Consulialion, Modern Slavery and Domesiic Abuse. A¢hi¢ve Lifestyle recognises ils resportsibility under the Equality Aci 2020. and have long esiablished and fair employment practices in the recruitment. selection and retention and trdining of staff. particularly for people wilh protected characteristi¢s. Disclosure of informgtion to auditor Each trusiee has taken steps thal they ought to have taken as a iw5tee in order to make them5elve5 aware of any relevant audii inforn)ation and to e5tablÉsh that the charity'5 audiior i5 awdre of thai infomiaiion. The tnjstees confimi that there is no relevanl infomiatN)n that they know of and of whi¢h ihey know the audiior is unaware. Re¥ppoithiment of #udiior In accordance with section 485 of the Companies Aci 2006, a re￿Il￿tiOn for ihe re-appointment of Stewart & Co A¢¢ountanls LLP as auditors of the Charity Is io be propos&l ai ihe forth¢oming Annual GeneTal Meeting. The annual report was approved by the In￿¢£¢$ of the ¢harity on 7 D￿rrnbtr 2022 and signed on its behalf by.. S￿*%09£¢uRÉLy DF11711021 atl-42".>JAAllnC K W Phillips Trustee Page 12 Achieve Lifestyle Statement of Trustees, Rosponsibilities The trustees {who are also the directors of Achieve Lifestyle for the putFKTrses of company lawl are responsible for preparin8 the trusrees, rerA)rt and the financial statements in accordance with appli¢able law and United Kingdom Accounting Standards {Vniied Kingdom Generally Accepted Accounting Prdctice). including FRS 102 "The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland" Cornpany law requires the trustee5 to prepare financial 5tateMents for each financial year. Under company law the irusiees musi not approve the rJnan¢l￿ stht¢ments uThless they are saiisfied ihai they give a true and fair view of the siatt of affairs of the charithble ¢ornpany athd of the Lncoming resouices and application of resources. including 115 income and expenditure. of the charitable ¢ornpany for that period. In preparing the5c financial statements. the trustees are required io.. select suitable a¢¢ouniing p)li¢ies and apply them consist¢Thily- observe the method5 and principles in the Charities SORP- make j￿jgements and estimates that are reasonable and p￿dertE slate wherher applicable accounting standards. comprisin8 FRS 102 have been followed. subject to any maieTial departuies disclosed and exPl￿ned in the financial sta*ments' and P￿part Iht financial 5tattments on the going concern basis unless it 15 inappropriatc to pre5Utnt that the charitable company will ¢ontirtu¢ in business. The trustees are responsible for keeping proper a¢¢ounling Te¢ords thai Can di￿10$¢ with reasonable accuracy at any timt the financial posilron of the charitable company and tnable thtm to Cn5UTe that the financial staiemtnts comply with the Companies Aci 2(K>6. They are also responsible for safeguarding the &ssets of the charilablt ¢ompany and hence for taking reasonable strps for ihe prevention and deiection of fraud and other irregularitie5. The tru51e¢5 are resFoll5ible for the rnaintenance and irbtegrity of the corp)rdl¢ and financial information included on the charitsble cornpany's web51te. l£gislaiion governing the prepardtion and dis5ernination of financial ststements may differ from legislaiion in other jurisdictio￿. Approved by th¢ trustees of ihe ¢hariry on 7 tk¢ember 2022 and signed on its behalf by.- S￿lIED SECVPELY 07MW2•t2 lt•..42..j•￿ UTC K W Phillips Trusiee Page 13 Aehieve Lifestyle Independent Auditor's Report to the Members of Achieve Lifestyle Opinion We have audited the financial statements of Achieve Lifrstyle (the '¢hariV) for the year tnded 31 March 2022, whi¢h ¢omprise ihe and including a summary of $igThifJcant accounting policie5. The finan¢ial reporting framework thai has been applied ID iheir preparaiion is United Kingdom A¢¢out)(ing Siandards. comprising Charities SORP - FRS 102'The Financial Reporting Star￿ard applicable irb the UK and RepublK of Ireland, and applicable law (United Kingdom Gtnerally Accepted Accounting F¥acticel. In our opinion the flnancial statements= give a true and fair view of ihe slate of the ¢harity's affairs &5 ai 3 1 March 2022 and of its incoming rE50UTce5 and application of rcsourcrs. irbcluding its income artd expendI￿re. foi Ihe year thert ended." hav¢ been Properly prepar¢d in a¢cordan¢e wirh United Kingdom Generally Acceptrd Accounting Praciice. and have been prepared in accordance with the requirements of the Cornpanies Act 2[￿16. B#$i$ for opinion W¢ conducted our audit in accordance with Iniernational standa￿ls on Auditin8 (UK) (ISA5 (UKI) and applicable lavi. Our resportsibLlities under Ihose siandards are furthtr described in the auditor responsibilities for the audit of ihe financLal statements sectjon of our report. We are independent of the charity in accordance with the ethical requirements that are relevant ¢0 our audit of the financial statements in the UK. including Ihe FRC'S Ethical Standard. and we have fulfilled our other ethical rrspovsibililies in a￿Orda[￿e with these requirements. We believe (hat the audit evidence we have obtsined is suffitient and appropriate to provide a basis for our opinion. Material ￿ncertaInty in relat￿￿ tts going tontern We draw aneniion io Noie 24 in lhe financial statements, which indicates thai the ¢ompany incurred a net expenditure. before other re￿gniSed gains and loss¢& of £287,478 during ihe year ¢nd¢d 31 March 2022 and, as of that date, the company's current liabililies ex¢e¢d¢d its ioial assets by £1.183.730_ As slated in Note 24 ihese events or condition5. along with oiher matter5 as Sei forth in No¢e 24 indicate that a material uncertainty EXlStS that may cast significant doubt on the company'5 ability lo continue ￿ a 80in8 concern. Our opinion 15 not modifjed Jrt respect of this matter. Other informaiion The irustees ar¢ responsible for the other inforni*ion. The oiher infornwion comprises the hnforn)ation included in the annual Ttport, Ot￿r ihan thc finanrial 51al¢m¢nts aThd ow auditor's teport ther￿￿. Our opinion thc financial staitmenls docs not cover the other inforrnalion and. except to the extent otherwist explicitly stated in our report, we do nol exprc5s any form of assurance conclusion theTeOn. In Conneciion with our audit of Ihe financial our responsjbility is io r¢ad the other infomialion and. its doing so, consider wh¢ther the oih¢r inforrnation 15 materially inror551St¢nl with the financial slatemrnts OT 0￿r knowled8e obtained in the audit or oiherwise appears to be rnaterially rni55tated. If we identify such material InCOJlSLSten¢ies or apparent material misstalements. we are required to detemiine whether then is a material misstatement in ihe finan¢ial siaL¢ments or a material missiaiemenl of ihe other Jnformaiion. If. based on ¢he Wofk we have perfonned, we conclude ihat there is a material missta¢emen¢ of ihis other inftimiatioN we are required io report Ehai fact. We have ntsthivg io report in this r¢8ard- Page 14 Achieve Lifestyle Independent Auditor's Report to the Members of Achieve Lifestyle OpiDiOn on other matter prtscribed by the Companies Aft 2•06 lth our opinion. based on the ¥r*rk undertaken In the ¢our5¢ of the awiit= the infomiaiion given in th¢ Trusitts, Report for the financial year for which the finarKial siaiem¢nts are prepared is Consistent with the financial staiements" and the Trustees. RetA)rt h&5 been prepared in accordance with applicable legal requirements. M*titrs on which we are required to report by ¢x¢ep¢ion In the light of our knowledge and undeTsiandin8 of the charity and its environmtnt obtained in tht course of thc audit, we have noi identified material misstatemenis in the Trusiee5' Re[￿rt. We have rK)thing to report in respect of the following marters wheff the Cornpanies Act 2006 requires us to report to you if, in our opinion-. adequate accounting records have Th)1 been kepL or rdums adequate for our audit have noi been received from branches TK)i Visited by us,. or the financial sratements are not in a8rttment with the accounting re￿rdS and retUrn5', or certain disc105ures of trusiees remune￿70￿ specified by law art oot Tnade- or we have not received all the inforniation and explanations we require for our audit. the dire¢tOTS were noi eniiiled 10 pr¢par¢ the financial siai¢ments tn a¢¢ordan¢¢ with lh¢ small ¢ompaDi¢s regime and take advantage of the Sm￿] ¢ompanies' exemwions in prep•rit)g ihe direciors. report and from the requirement to prepare a 5tr3tegic reporL Resp)n$ibililies of trustees As explained fvlly in Ihc Statement of Trusttts. Resp)nsibilities (sei out on page 13). the tru￿¢¢$ are responsiblc for thc preparation of ihc fsnancial slal¢ffl¢nt5 and for being sat15fied that they give a true and fair view, and for such internal control as the trustee5 deiennine hs necessary to enable ihe preparation of financial smtements that are free from material mi$51atement, wheiher due to fraud or error. In preparing the financial sthtemenis. the trustees are responsible for assessing the ¢barity'S ability ¢0 ¢onlinue as a goin8 concern. di5c105ing. as applicable. matters related to going concern and usin8 the going concern ba515 of accountin8 unless the trustees tithtr inlend ￿ liquidate the charity or to cease optrations. or have no realistLC alternative but to do so. Auditor r£$p&￿sIbilitIeS frfjr the xydit of tht finartSe charged with governance. Review of legal cxpcnsc accounts to identify spend which may be indicative of breaches of laws and regulations.. Reviewing th¢ fJnan¢iaJ 4ai¢meni disclosures aThd t¢siing to S¥PPOnin8 documentsiion ￿ assess Compliance wilh ihe provisions of laws and regulaiions d¢xribed at#)ve_ The engagement team also remained aware of the need for profes5K)nal scepticism lo identify any indications of fraud or non-compliance with laws and TegulaiioThs throu8hout the audii. There are inherent limitatioThs in the audil procedures described above aThJ the further Temoved non-cornpliance with law5 and regulation5 is from the events and trdnsactions reflected in the financial ststtrnents. the less likely we would become awart of it. The risk of rrf)t detecting a material mis5tattment due to fraud is higher than (he risk of not detectin8 one resulting from em)r, as fraud may involvt deliberate concealmeTht by, for example, forgery or in*ntional misr¢presentations, or through collusion. A further d¢scripiion of our responsibiliiies is available on the FinaThcial Reporting Council's web5jte at.. www.frc.org.uklauditorsreswJnsibilitit5. This descripiion forn￿ part of our a￿lItor'S reporL Page 16 Acbieve Lifestyle Independent Auditor's Report to the Members of Achieve Lifestyle Use of 04r report This report l5 made solely io the charirable company's trusttts. Ls a body, in accordance with Chapter 3 of Part 16 of the Companies Aci 2006_ Our audit Work has been undertaken so that we might sthie to the thaTity's tTUStee5 Ihose TnatteTS we are required to state to them in an auditOT'S report and for no other purpose. To the fullest extent permitted by law. we do Th)t accept or assume responsibility io anyone giher than the ehaTiiabl¢ company and irs trustees as a body. for our audii work. for this r¢poo or for the opinions we hav¢ fomied. Gary Robinson FCA (Senior StatU￿ry Audiior) For and ort behalf of Stewart & Co A¢covntants LLP. Statutory Auditor Knoll House Knoll Road Camberl¢y Surrey GU153SY 7 De¢ember 2022 Page 17 Achieve Lifestyle Statement of Financial Aetivitios for the Year Ended 31 March 2022 Oncluding Ineome and Expenditure Account and Statement of Total Reeognised Gains 8nd Losses) UnTestr•c¢ed lunds Restrieted fuTrd5 Totil 2022 Note It)eome and Endtswmtnts from: tknnatiotls and lega¢ies Chariiable activities 128.097 2,811.171 128,097 Total income 2.939.268 2.939,268 Expertditure on: R￿51￿8 funds Charitable aclivitLe5 530 3.227.276) 530 13,227,276) Totsl expenditure (3.226.746) 13.226,746 Net expenditure Othtr rtcognised gain$ *nd losses Actuarial gains on d¢fsned be￿rit pension schemes (287,4781 {287.478) 273.000 273.000 Net movement in funds {14.478> Il4,478) Recontili#tion of fund$ To¢al fvnd5 brought forward 2.024.552 I I s,0￿) 11,909,552) Total fijnds carried forward 2.039.030) 115.0 11,924,030) Page 18 Achieve Lifestyle Statement of Financial Activities for the Year Ended 31 March 2022 ncluding Income and Expenditure Account and Stalement of Total Recognised Cains and Losses) Ptitjr Peri￿St￿l¢me￿t￿￿ Fi*&ncidlAciiviii Vnrestrict¢d Restricted funds Tot41 2021 Not¢ Incom¢ and Endowments fr¥Jm". Donations and legacies Charitable aclivities Invesbnertt in¢ome 1.101.420 597.597 .101,420 597,597 Total income 1.699.018 1,699.018 Expenditure on: Charitable aciivities 2.866.906) 2.866.906 Total txpenditure (2.866,906) {2,866,906) Nei expenditure (1.167.888) (1,167,888) Other retognistd gains and 10$5e5 Actuarial 8ains on defined benefit ￿￿$10￿ schemes (404.0(H)) (404.000) Nei ￿￿￿eMent in funds (1,571.888) (1,571,888) Reconciliation of funds Total fvnd5 brought forward Total funds carried for¥tyard (452.664) 115,000 1337,664} (2.024,5521 115,0 11,909,552} All of th¢ ¢harity's a¢tivities derive from ¢oniinuing ow*ions during ih¢ aiM)v¢ two periods. The funds breakdo￿1 for 2021 is shown in rKJt¢. Page 19 Aehieve Lifestyle (Registration number: 07451733) Balance Sheet as at 31 March 2022 2022 2021 Not¢ Fixed Assets Tangible assets 244,579 313.683 Current Ass¢ts Stocks Debtors Cash at bank and in hand 2.950 32,183 543.404 2.420 25,650 323,912 578,537 351,982 Creditors: AmO￿n¢5 f*llirtg due within one yur 2.006,8461 1,536,441) Net curreni liAbilitie5 (1.428,3091 (1.184.459) Total a￿tI5 le5S Current liabilities (1,183,730) 1870,7761 Creditors: Amotsttts falling afttr more thgn ofje yexr 1116.3001 1180,7761 Net liabilities excluding ptnsion liability (1.300.030) (1.051.552) Pension stheme li#bility (624.0001 1858.0001 Net liibilities iTh¢luding p¢nsion liAbility (1,924,030 11,909.552 Funds of the charity: Restrieied income funds Restricted funds I l5,0(Xl 115,000 Unrestritted intome fllftds G¢neral Funds Pension reserve (1,415.030) 1624.000) (1,166,552) 858.(N)O Tothl unr¢stri¢ied fvnd5 (2.039.030} (2.024,5521 1,909.552 Total lunds (1.924.030 For the financial year ending 31 March 2022 the charity was entitled ￿ exemption from audLt under section 477 of ihe Compani¢s Aci 2006 r¢lating to smo11 ¢omp2th1¢S_ Directors. responsibilitie5'. The rnember5 have not required the charity to obtain an audit of its accounts for ihe year in questi(Trn in a¢wrdan¢¢ wilh seeiion 476: and The dirccltsts acknowledge their resp)nsibilities for complying with the rcquirewKnts of the Act with re5PCCt accoun(ing records and the prepardlion of accounts. Page 20 Achieve Lifestyle (Regi5tralion number: 07451733) Balance Sheet as at 31 Mgrch 2022 The financial sta*menis were approv¢d by the inste￿ and auUK*ris¢d for issue on 7 December 2022 at)d Sl8ned on their bEhalf by-. SIGNED SECURELY 07NZIIOZ24t•..42..IOAriuTc K W Phillips Trnstee Page21 Achieve Lifestyle Statement of Cash Flows for the Year Ended 31 March 2022 2022 2021 Note C*sh flows froTh tsperating #divi¢its Net c&sh expendiiure (14.4781 {1,571.888) Adjustments to c*$h flflws from non-c*$h items Deprtciaiion Invesimeni income Loss on disposal of tangible fixed assets Difference between pension charge & contribuiions 111,142 136.635 340,873 412,000 234,0001 (137,3361 1682,3811 Working ¢#pit*l *djustrnents (In¢Teaseydecrtase in stocks (Increa5eydecre&se in debtors Increase in crediiors (5301 16.5331 466,922 12,220 23.591 641,056 Net Cash flows from optTating activities 322.523 {5.514) Cash flows from investing aelivilies Interesi receivable ond similar in¢ome Purchase of tangible fixed assets Sale of tangible fixed assets 142,038) (400) 129.8671 Nei cash flo￿ from investing activities 142.038) {30.2661 C#sh floY4s from finaneing #eiivilies Value of new loans obiained dynng Ihe period Repaymenl of loans and borrowin8S Repayment of capital element of finance leases arml HP contracts 150.000 16,2021 {32,6251 125,334) (35,6591 Net cash flows from financing activities 60,993 Nei Increase in cash and cash equivalents 219.492 75,393 Cash and cash equivalents at l April 323.912 248,519 Cash and cash equivalents at 31 March 543.404 323.912 All of ihe cash flows are derived from continuing operations during the a￿¥¢ Th¥0 perM)ds. Page 22 Aehieve Lifestyk Notes to the Financial Statements for the Year Ended 31 March 2022 Charity 5tatU5 The charity is a private company limited by guarantee. incowpoTated in England & Wales, and wn5¢qsJethily does ot have share ¢apiial_ Ea¢h of the trustees is liable to coThtribu* an amoun¢ Th)t exceeding £1 iowards ihe assets of the charity in the event of liquidation. rcgistered number 07451733 and Charity nurnbei 1141018. The address of its registered office is". Egham Orbit Vicarage Road Egham Surrey TW20 8NL 2 Actouniine polieies Summary of signifiejni accouniing polTtits and key #ecounting estim*tts The principal accounting policies applied in the preparaiioTh of these financial sthtements are set out below. These policies have been conslSt¢nily applied io all lh¢ yeors presented, vnl¢ss otheM5e stared. Statement of compliance Thc financial slatements have bcen prepared in accordarKe with Accountin8 and Reporting by ChaTlties'. Statemeni of Re¢ommend¢d Pn¢ti¢e lappli¢able to ¢hanties preparing their ac¢ounts In a¢¢ordance with the Financial Reporting Standaid 4>pli¢able ITh ihe UK and Republic of Ireland {FRS 1021) (issued in O¢rober 2019) (Charities SORP {FRS 102)). the Financia] Repo¥ting Standard applicable in the UK and Republic of Ireland (FRS 1021 and ihe Companies Act 21)06. Bs$is of prepAr*tion Achieve Lifestyle meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless oiherwise stated in ihe relevdnl accountin8 policy noie5. These financial statements cover the individual charity Ind presented in sterlin& which is the function81 ¢urrenGy of the charity, 8T￿ are roundcd to the nrare51 £. Going contern The financial 5tatcments have bcen prepared on a 80in8 concern b￿ls. The irusi¢es ass¢ss whether the use of going concern is appwpriate i.e. whether there are any ma¢erial uncertainties r¢lai¢d to events or conditions that may cam significant doubt on the ability of the charity 10 continue a5 a going conc¢Tn. The Iru5t¢¢5 make this a55CS5ment in rcsP¢Ct of a pcrii)d of one year from the date of approval of tht financial statements. For further detsils see note 24. Page 23 Achieve Lifestyle Notes to the Financial Statements for ihe Year Ended 31 March 2022 Judgements The preparation of the financial statements requires managcrnent to make judgemenls. estimates and assumptions which affect ihe amounis reported. These egimate5 and jtsdgements are continually reviewed and are based on experience and other factots. including expectaiiorts of futu￿ events that are believed to be reasonablt under the circumstances. Accounting esiimates and assumptions are made concerning the future and. by their nature, will rarely equal the related actual outcome. Key sources of estirn*tion uneertainty Pension benefils." The ¢ost of defined benefii penston plans are deternined using actuarial valUat￿n5. The actuarial valuation involves making assumpiions abou¢ diseouni rates and retail price inflaiion. Due to ihe complexity of the Yalualion. the underlying assumptions and the loog tem naiure of these plans. such esiimates are Subject io Significant uncertainty. In determinirbg the appropria* dis¢ounl tate. management considers the ini¢resi rat¢s of high quality ￿rpOrate boThd5. The mortality raie is based on publicly available mortality tables for ihe spc¢ifrc ¢ountry_ Future salary in¢reases and pension increases are based on expected ￿lure inflaiion lates for the respective ¢outhtry. For further deiaLls, including ihe Carrying amount at ihe end of the reporting period. See note 19. Usefvl economic liv¢5 of tangibl¢ assets.. The anThual depreetalion char8e for tsngible a5Yts Is sensitive to Changes ith the estima￿d useful e¢orJomi¢ lives and residual values of the asseis. These are amended wh¢n necessary to rcfle¢t ¢urrcnl cstimateg based on e¢orM)mic ulilisation and physical cortdjtiort of the assets. Incorne god endowment5 All income is recognised once the charity has eDtitletnen¢ ￿ the income. it is ptrjbable ihal the income will be received and the amount of the income receivable can be rneasurtyj reliably. Gronts reeeivotyle Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the granis have been mei. Where performance condition5 are attached to the grant and are yet to be met. the income 15 recognised as a liability and included on the balance shttt &5 defeffed income to be ￿leased. luvesimentincome Interest received on funds held on de￿51t is included when receivable and ihe amount can be me&sured reliably by the charity", this is rtomially uport notification of the inieresl paid or payable by the Bank. ChariTlable aciivilies The considerable majority of income relats5 to gym rnemt*rship and It15ure 5trvices. Membership income received in advance is defeTred on a straighi line basis over ihe ¢onira¢i iemi. Income from the hire and tsse of leisure facilities is recognised ai the time of use. Retail income is rtcognised ai the ￿l￿t of sale. Expendilure All expenditure 15 recognised once there is a legal or constni¢iiv¢ obligation to that expelldilwe. Il Is probable settlement 15 rcquired and the amount can bc measured rcliably. All costs are allocattd to the applicable ¢xpendithre heading that aggregate similar costs to Ihat category. Where c051s camioi bt directly attributed t particular headings fhey have been allocated on a bas15 COIISLStertt wilh ihe use of resour¢es, with central Staff ¢osts allo¢at¢d on the basis of time sp¢nL rent allocated on the estimated noor atea occupied by an aciiviry and depreciation charge5 allocated on the portior) of the asset's use. Other direct and 5UPPOrt COSts are alloCa￿d on a reasonable b&5i5 Wlth consideration o(Ihe usage of the resourcc f(x each activity. Page 24 Achieve Lifestyl¢ Notes to the Finaneial Statements for the Year Ended 31 Mareh 2022 These are ¢osts incurred in artraeting voluntary incom4 the management of tnvestrnent5 and those iacurred in trading a¢tiviti¢s thai Twse funds. Charitoble tTclivilie¥ Charitable expendimre comprises those costs incurred by ihe charity in the delivery of lis aciLVities and services foT its bEneficiaries. li includes both ¢osis ihai Can be allocaied dire¢ily io such *¢ivities and those costs of an indirect naiure nece55ary Io SUP￿￿rt thern. Govern8Thte costs The5t include the c0515 attributable to ihe ¢hanty'S ¢ompli¥ncr with ¢on5titutional and ￿a￿tOry r¢quirernents. including audit, 51rale8ic management arHI tThstces' mcctirbgs and rcimbur5ed expenses. Taxation The charity is considered to pass the tests sei out in Paragraph I Schedule 6 of the Finance Act 2010 aTHI therefore li meets ihe definition of a chariiable company for UK corporation tax purposes. Accordingly, the chariry is p)tentially exempi from taxation in respect of income or capital gains received wiihits categories covered by Chapter 3 Part I l of the Corwjration Tax Act 2010 or Seciion 256 of the Taxation of Chargeable Gains Aci 1992. 10 the exleni ihat su¢h income oi gains are applied exclusively to chariiable pwposes. Tangible fixed *5set5 Individual fixed assets costing £500.(KJ or more are Initially Tetorded at cosi. Depreciation and amortisation Depr¢ciation is provid¢d ort tsngible fixed assets 50 25 to wriie off the ¢osi or valuation, le55 any esiimaied residual value. over their expecied usefvl economic life as follows.. Assei class Lx)ng-term Icasehold propcrty Plant & machinery Fixtyres & fittings Gym & studio equipment Depreciation method **d Nte Over tht lease terni 5 years sirdighi line 3 years Straight lin¢ 7 years straighi Sine Stock Stock is valued at the lowtr of cost and tstimated selling price le5S Costs to cornplete and sell. aftcr due rcsaTd for obsolete and slow moving 5tock5. Cost is deterniined using the fLrsi-in, firm-0￿ (FIFO). Trade dtbtors Trade debtors are amounts due fmm ¢uMom¢rs for m¢r¢handise sold or services performed in the ordinary ourse of business. Trade debtor5 are Tecognised initially at the trdn5action price. They are subsequently measured at amortised c05t using the effective interest method, less pmvision for impairnient. A provision for the impairment of trdde debtors is established when there 15 objective evidence thai the charity will not be able to collect all amounis due according to the original terms of the recebvables. Page 25 Achieve Lifestyle Not£5 to the Financial Statements for the Year Ended 31 March 2022 Cgsh sn41 c&sh equiv*lents Cash and cash equivalents comprise cash on hand and call deposits. and other short-terni highly liquid investments ihai are readily cottvertible to a k]wwm amount of cash and are subjert ￿ an insignificant risk of change in value. The charity holds cash and bank deposits only. They (b not hold other short-tenn highly liquid investments. Tndt erediiors Trade credLiors are obligaiions to pay for goods or 5eTYice5 ihat haye been acqvtred ift the ordinary course of business from suppliers. Accouns payable are classified as current 11obililies if ihe charity does noi have an ￿n￿nditIonal righL at the end of the rep)rting period. ￿ defer senlemeni of ihe creditor for al least twelve nths after the reporting date. If there is an uncondiiional right ￿ defer 5ettlerneni for at Itast twelve NK)nths after rhe reporting daL¢, they are presented as rK)n-current liabilities. Trade ciediwrs are recognised initially at th¢ trat)wiion pri¢¢ and subs¢qu¢nily measured ai amorfised ¢os¢ using the effective interest meihod. Borrowings Interrsi-brdring borrowings initially recorded at fair value. nci of Irdnsaction ty)sts. InteTeSt-bearing borrowbns5 are subsequcntly carried at amortiscd c05t. with the diffcrence betwcen the Proceeds, net of transaction costs, and the amouni duc on redempiion being recognised &$ 3 charge to the Stalemeni of Financial Activities over the period of ihe relevant tKJrrowng. Inierest expense is recognised on the bass of the effec11￿ inieff# methfyl and is included in intere# payable and similar charges. Borrowings are cla5SLfLed as current liabilitie5 unles5 the charity h35 an unconditional right to defer settltment of the liability for at least twelve monihs after iht rep)ning date. Fund strneiu Unresiri¢ied income fvnd5 are general funds that are available for use ai ihe Irusiees. dis¢retion in fi￿heranc¢ of the objeciives of ihe Chaiity. Restricted income fvnds are those donated for use in a particular area or for Specific purwjses the use of which is restricted io that area or purp05e. The airn and use of ea¢h rewided fund is set in the t)oi¢s to ihe financial 5ts1emenis. Page 26 Achieve Lifestyle Notes to the Financial Statements for the Year Ended 31 March 2022 Hire purch35e finante leasts Leases in which substantially all the risks and re￿ardS of owrbership are retained by the lessor are classified as operating leases. kenta15 payable under opernting leases are charged in the Statement of Financial ActlVLties on a styaighf line basis over th¢ lease terni. L¢a5¢5 cla55ificd a5 financ¢ leases wher*ver the temis of the lease transfer substsniially ￿] the risks and rewards of ownership to the le55cc. A5scts held under fLnan¢e leases art capitalised in the balance sheet as tsngible fixed a55cts and are recognised at the lower of their fair value at inception of the lease and the present valve of the minimum lease payments. These 0s5eis are depreciated on a 5traight-line basis over the shorter of the useful life of the assei artd ihe lease iemi. The cxpiial elemenrs of fvture obligations under the lease5 are included as liabilities in the balance sheet. Lease payments are ¢harg¢d ¢0 the Sthomeni of Fioan¢ial A¢tivilies and are apportioned bel￿¢￿ finance co￿5 and the reduction of the lease obligation so as to achieve a ¢orbStanl periodic Tate of interest OTh the remaining balance of the liability The interest element of the rental obligation is Charged to the Statement of Financial Activitie5 over the period of the lease and repr¢sents a ¢onstsnt proFM)rtion of the balance of capital Tepaymenis outstanding. Pen$ions #nd other posi retirement obligaiions The ¢harity operates a defined contrbblllion pension s¢heme and ihe pension chwEe rewesents ihe amounts payable by ihe ¢hariiy ￿ ihe fw)d in respect of the year_ The ¢haTity 31s0 operates a defjned benefii pension scheme. A full actuarial valuation is undertaken at leasi every three years to determine whether the Statutory Funding Objective 15 met. The most recent fvll actuarial valuation was carried out as ai 31 March 2022. See nott 19 for furthtr details. The charity contributes to ihe Surtey Pension Fund ihe Local Government Pensiot) Scheme I'LGPS,), a multi-employ¢r defin¢d benefit pet)sion xheme, on b¢half of ¢¢rtain employees whose employment wa5 iransferred from Rvnnym¢de BoroJgh CoJn¢il as part of the Transfer of Undertakings (Pr￿¢¢¢101) of Effjployrnentl Regulations 2006. The LGPS is a funded defined ben¢fi¢ 5¢h¢rnc. and is colltrart￿ out of the Statc Earnings-Relalcd Pcnsion Scheme. The Asse1$ of the schcmc arc held separdlely from those of thE Company, in separate iru51ee-adrninistered funds. Pension scheme &ssets are measured ai fair value and liabilities are measured on at) actuarial basis using the projected unti method and dhscounted ai a rate equivalenl to the current ra￿ of return on a high quality ¢orporate l)ond of ¢quival¢nt iem) and ¢urren¢y to ih¢ liabililies. The a¢ttLarial valuations are obthined at least Iiiennially and are updated ai ea¢h balan¢¢ she¢t date. Thr atnoun15 chargryj to operaling 5urplu5 are the current service costs and gain5 and losses OD the settlements and curtailrncnts. They are included a5 part of staff costs. Past service costs are recognised immediately in the Staiement of Financial Activities if the benefits have vested. If the benefits have not vested immediately. the cost5 are re￿gnIsed over the perhod vesting occurs. The expected return on assets and the interest cost are 5howTh as nei finance aMo￿t of the fiThan¢e coys or ¢redit5 adjac¢DI io interesl. A¢iuarial gains and losses ar¢ rttogoised imm¢dio*ly in other gains and losses. Pension cost5 are allocated to chafitable activities bn line with tht cost centres of staff member5. Termination b¢n¢fit$ Termination benefits are recognised as an expense in profit or 105s immediaiely wheTh the charity is committed by legislation, by eoniwtual or oiher agre¢m¢nts or by a ￿nsIn￿lIVe obligation to make payments (or provide other benefils) to employets when It ierminates their employment. T¢rminaiioTh benefils are measured at the best esiimale of ihe expenditure that would be required to settle the obligation at the reportin8 date. Page 27 Achieve Lifestyle Notc8 to the Financial Stydtements for the Year Ended 31 March 2022 Financial in5trnnknts classific￿10 Financial ass¢ts and financiaj liabililieg are recognised when the charity be￿M¢S a parry to the ¢ontra¢tual provisions of the instrument. Financial liabilities and equity instruments are classifjed according to the substance of the contractual arfdngements enteied Into. An equity irtstrnmeni 1$ sny ¢ontr¥t thai eviderKes a r¢5idual inierest in ihe assets of the charity after deduciing all of i¢S liabiliti￿. Recognirlon m¢osur¢meni All financial asseis aTrd liabililies aTe inilially measured al trans4￿10￿ price (including transaction cost5}. except for those financial assets Classified as & fdir value through profit or loss. which are initially measured ai fair value (which is normally the transaction price excluding transaction costs). unlcss the arrangement constitutes a financing transaction. If an arransemeni constiiures a financing iranwiion, the financial a5sei or fLnancial liabiliry is measured ar the present value of the fuftlre payments dis¢ounted ai a marker Tate of inieres¢ for a similar debt instrument. Finarbcial assets and liabilitie5 are only offset in the statement of financial rK)sition when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intend5 either ￿ settle on a net b&si5. or to reali5e the asset and settle the liability simultaneously. Financial assets are dere¢ognis¢d when and only when a) the ¢Onira¢tual rights ￿ the cash flows from the financial asset expire or are 5¢tt1Ed, bl the chaTity tran5fer5 to another party 5ub5tantially all of tht risks and rewaTds of ownership of the financial asset. or c) the charity. despite having retained Sor￿. but not all. Slgnificant risks and reward5 of ON￿ershIP, h&% transferred conirol of the a55et to another party. FinarKial liabilities are deT￿08Th1$¢d only th¢ obligation spe¢ified in the ¢onira¢t is dis¢harged. Cancelled or expires. 3 Income from donations and Ityties UnrtSir*¢ed funds General Total 2022 Tot81 2021 Grants receivable 128.097 128.097 1.101.420 128.097 128.097 1.101.420 4 Income from chAritalAe gctivitie5 funds GtNeral Total 2022 Total 2021 Health and fitness Sports and a¢¢iviti¢s Retail and other Jn¢ome 1.663.437 954.356 193.378 1,663.437 954.356 193.378 422.628 133.083 41.886 597.597 Page 28 Achieve Lifestyle Notes to the Financial Statements for the Year Ended 31 Mareh 2022 5 Investment income Total 21122 TotAI Inleresl ￿Ce1Vable and similar income.. Inierest receivable on bank dewsits 6 E¥penditure eh*ritablt aetivities Analysis bylund Unre5tri£ted fund5 Gener#1 Other Total funds Hcalth and fitness SFQrt5 and activities Retail and other income Govemance costs 2.369,878 464.659 367.512 17,227 2,667 2.666 2.667 2,372,545 467.325 370.179 17,227 Totgl for 2022 3,219.276 8.000 3,227,276 Toial for 2021 2.858,906 8.000 2.866,906 Analysis by choril&ble ocÉivity Ae¢ivity undertaken d•rectly Activity support tosts Total expenditure Health and filness Sp)rts and activities Retail and other income Govtrnance costs 1,430,224 280,395 222.107 10,917 942,321 186,930 148.072 6.310 2,372,545 467,325 370,179 17,227 Tolal for 2022 1,943,643 1,283,633 3,227,276 Totsl for 2021 1,724,991 1.141.915 2.866,906 Page 29 Achieve Lifestyle Notes to the Financial Statements for the Year Ended 31 March 2022 An4ly$i$ costs oJocliwlies underf￿ke￿ diredly Health and SpDrts And rrtne5S *tiiviiies Retail *nd other incorne Tot*1 2022 Total 2021 Wages & Salaries Siaff NIC (Employers) Staff pension costs Net finan¢¢ ¢osi on pen5ioD scheme Subcontractor costs Maintenance P4Jr¢has¢s Reni & rates 444.848 298.598 63.299 806,745 702,645 29,833 133 20,025 14.185 4.245 3.1x17 54.103 17.325 25.374 21,770 6.000 138.648 43.080 42.395 433,543 201,067 11.835 6,OlX) 6.oixi 18,01)0 138.648 84.442 132,922 619,347 287,239 35,506 i 0,000 49,250 41,157 77.210 605,985 166,026 25.574 25.497 15.865 90.527 30.967 14.362 11.836 154.837 71,810 11.835 Insurdnce 1.351,382 602.787 240.108 2,194.277 1,724,991 Page 30 Achieve Lifestyle Notes lo the Financial Statements for the Year Ended 31 March 2022 7 Am4lysi$ of support ￿sts Retsil and other incom¢ Heilth and ritness Sports and Tot*1 21122 Total 2021 Support eosts Management & admin salaries Other overhead costs Advert15ing & promotioTh Irrecoverable VAT Servi¢e agreements Maintenance agreements Legal & professional fees Depreciation charge Profiuloss on dispos81 of fixed assets 149,575 53.846 4.176 48.429 18,986 18,940 3,319 77.799 128.575 51.543 4.176 48,429 15.866 18.939 3.319 27.785 128,575 50.296 4.176 48,429 15.865 18.938 3.317 5.558 406,725 155,685 12.528 145.287 50,717 56,817 9.955 111,142 363.272 108.837 9.322 63,100 21.953 44.132 26,326 136.635 310.006 43,617 485 Bank charges Trnvel & subsistcrKe Bank interest payable 16,241 16.241 16,239 48,721 18.195 18,195 409,506 314,873 291,393 ,015,772 ,127,685 Governance costs Audit & accountancy fees 5,742 5.742 5.743 17,227 14,230 415248 320.615 297,136 1,032,999 8 Trustee$ remuneration and expen During ihe year the Charity made the following transa¢iions with trustees= H Aitken thjring (he year, H Aitk¢th r¢¢¢ived remuneration of £93,495 {2021". £85.551) for services other than ihose of a trLLStee, as specifically pemined within the charity's goveming documerht. The salary costs Incurred by the chari¢y are in¢luded under management salaries and iThclude ernployeTS pension tosts. £Nil (2021.. £921 of expenses were reimbursed to H Aitken during the year. Prior ye4r expense5 reimbursed related to ear parking costs, and contribution wwards ¢y¢ ¢x3miDation. At lh¢ balance sheet date the ar￿(￿￿1 duc H Aitken was £Nil (2021= £Nill. Other tru5tee5 her trustees rtteived benefits in the form of frec gjin membership from the charity during the current year and prior year. No other trusiees incurred expenses which were reimbursed during the y¢aT. No oih¢r Irusiees received any remuneralion from the ¢harity during the year_ Page31 Achieve Lifestyle Noto¥ to the Financial Statements for the Year Ended 31 March 2022 9 Staff costs The aggregate payroll a>sts were as follows". 2022 2021 Siaft Costs during the year THere- Wages and Salaries Social security e0515 Pension ￿$ts 1,107.603 74,278 82,017 986.308 53,615 24.366 1,263.898 1.064.289 Included within wages and salaries 15 £8.674 of lern11n￿1on b¢Thefits (2021= 21.0221 in relation ￿ r¢dundan¢y pay. The monthly average number of p¢r9)ns (in¢luding senior management I leadership team) employed by the charity during ihe year expressed as full tirne equiv￿¢￿1$ was as follows= 2022 No 2021 Management Operations Gym Coa¢he5 & instructo Administration and front of house io 21 22 26 20 23 18 88 Th¢ Dumb¢r of employees wlw)se ¢moluments (excl￿1￿g employets pension ¢ontriErtJtions) fell within the following bands was.. 2022 2021 £60,001- £70,000 The to(al employee benefits of the key management personnel of the charity were £205.853 {2021- £185.388). The chief ex¢¢utJv¢ olTicer, as the highest paid member of staff. rcEcivcd bcnefits totalling £93.495 (2021 £85.551). 10 Audilor5' remuNer*tion 1022 2021 Audii of the finan¢ial statements 9.360 10,800 O¢her fees t• auditor5 All oiher non-audii services 2.600 3.430 Page 32 Achieve Lifestyle Notes to ihe Financial Statements for the Year Ended 31 March 2022 I I T8X8tion The charity is a iegisiered charity and is therefore exempt fwm thwion. 12 Tangible fixed assets ng-term leasehold property Fixtures & rittings Plant & *chintry Gyrn & studio tquipment TotAI C05t At l April 2021 AdditlOn5 DIs￿)SaI$ 36,240 86.896 6.602 164.586 7.279 {2,735) 523.915 28.157 11,978 811.637 42,038 14,7131 At 31 Mar¢h 2022 36.240 93,498 169.130 540,094 838,962 Dtpreciation At l April 2021 Charge for the year Eliminated on disposals 3,926 1,812 79.412 8.476 80.516 30.233 334,100 70.621 497.954 {2,735) (11.978) 114.7131 At 31 March 2022 5.738 87.888 108,014 392,743 594,383 Nei book valut At 31 March 2022 30,502 5.610 61.116 147.351 244.579 At 31 Mar¢h 2021 32.314 7.484 84.070 189.815 313.683 It)cluded wiihin the net tx)ok value of land and buildings abov¢ Js £Nil (2021- £Nill in re5PCCt of fre¢knld land and buildings and £30.502 (2021- £32.3141 in respect of leasehold5. Page 33 Achieve Lifestyle Notes to the Finaneial Statements for the Year Ended 31 March 2022 Asset$ held under fin4D¢e Itases and hire purchase ¢ontr*cts The net carrying amount of tan8ible assets includes the followin8 a￿K)unt5 in respect of a55et5 held under rJnan¢e leases and hiie purchase ￿￿tracts- 2022 21121 Gym & studio equipment 138.058 133,834 13 Stock 2022 2021 Stock5 2.950 2.420 14 Debtors 2022 2021 Trade debtors 7.854 24.329 5,899 15,030 4,721 Prepaymen Other debtors 32.183 25,650 IS C¥$h c¥$h eqwiv4leThts 2022 2021 Cash in hand 543,404 323,912 16 Cr¢diiors: Amounts fAlling d￿* withith ¥Joe ye*r 2022 2021 Bank loaos Trade Creditors Hire purchase and finance leases Other taxation and social Security Othei credito Accruals and defened income 26.098 1,195.170 38,230 4.162 7.767 735,419 25.231 566.209 35,614 45,302 28.315 835.770 2.006.846 1,536,441 Pa8e 34 A¢hieve Lifestyle Notes to the Financial Statements for the Year Ended 31 March 2022 Bgnk borrowiov CoronavinJ5 Business Interruption Loan is derK)minated in wtth a notninal interest rate of 3.73Vo {2021 £40kn). and the final instslmeot Js du¢ on 16 June 2026. The carrying amouni at year end is £1 18,464 (2021 - £150.0001. The loan 15 secured by a fixed and floating char8e over all propcrty and urbdertakin8 of ihe Charitsble wmpany. The loan is repayabl¢ ov¢r 6 years with iniiial repayment for the first 6 months being interest only. Under ihe ter￿$ of ihe scheme. Ihe ini¢resi is paid by the Government for the fjrsi 12 months. Deferred incorne 21122 2021 Deferred income at l April 2021 Resoyr¢es deferred in the period Amounts released from previous periods 106,808 16,880 106.808 (16.8801 63,218} Deferred income at year end 43.590 106.808 D¢f¢rr¢d in¢ome represents memberships paid for in advance. 17 Cr¢ditors: •mouDts f*lling dwe After ofy¢ yur 2022 2021 Bank loans Hire purehase and flnance leases 92,366 23.934 118.567 62,209 116.300 180.776 18 Oblig4¢ions under le8$¢$ #nd hire purch4se e0lllr*¢ts The total value of future minimum lease payments wa5 as follows.. 21122 2021 Within one year In two w five years 38,230 23.934 35,614 62.209 62,164 97.823 Pagt35 Aehieve Lifostyle Noles to the Finaneial Ststements for the Year Ended 31 March 2022 Operating le85e commitments Total firture minimurn lease payments under nOn-¢a￿e]1abl¢ opernting le&%es are &s follows: 2022 21121 LY4nd and buildings Within onc year Between oDe a￿1 five years After five years 525,000 210.000 ¥,925.(M)O 525,001 2.100.004 9,378,082 9.660.￿0 12.003.087 The above operating lease commity￿ents as ai 31 March 2021 include a 25 year lease thken oui in February 2019 in relalion lo the Egham Orbit site. Under this lease. annual rents are s(eppEd. starting at £175.000 in year l. irKrea5ing lo £350.000 in year 2 3nd £525.000 thereafter for the rernait￿er of the lease. The discounted rent period repre5enis a le￿ incentive urhder FRS 102 and kn been spread over the le￿ term. The TTusiees have ¢ontinu¢d to be engag¢d n¢goii*ioffj the landlord io Yeduce the rent comrnitments at the Egham Orbit site. in order to ensure ih31 the Company Can Continue to operate its leisure facilities and meet ils liabilities as they fall due. In November 2022. an agreernent was reached with the landlord resulting in a reduced. more 5UStainable. annual rental char8e for the Egham Orbit site for the period 1st April 2021 Jlst March 2024. 19 Pension •md other schemes Defined e•ntribulion pe￿10Th stheme The ¢harity opernies a defina corttribulion pension scheme. The pension Cost ¢harg¢ for the year represents contributiorb5 payable by the charity to the %hrm¢ and amourbtcd to £18.428 (2021- £27.478). Deflned benefit pension sehemes Surrey Pension Fund The ¢hariiable ￿MpanY ¢ontribut¢s to the Surrey Pension fund. part of the ixJ¢al Gov¢mtnent Pensioth Scheme {LGPS). on behalf of its cwloy¢es who awr membcr5. The pension costs are as5es5ed in accordance the advice of independeni chanered actuarie5. Hymans Robertson LLP are the appointed actuary of th¢ local Surr¢y fund. The pension charg¢ and balan¢e sheei liabilily is based on an a¢iuarial valuation daied 31 March 2022. A fijll a¢iuarial va]uation is undertaken ai l¢ast every three years to detemirte whether the Statutory Furmling Objective is met. The dale of ihe most recent Comprehensi￿ aciuarial.valuaiion wa$ 31 March 2022. The most recent compTehensive valuation was carried OLLI by Hymans Robertson LLP, and adjustmenls io the valuation have been based on assumpiions ￿ detailed further below. The adjusiTn¢D¢S for the curTeThi period have been calculated by the Hyman5 Robertson LLP. The acruary reviews the asse15 and liabilities of the scheme on a triennial basis for funding pUr￿lseS. Inlerim valuations will coAiinue w be perfornied at the end of each a¢¢ounting year for the purtKJses of FRS 102 dksclosures. Page 36 Achieve Lifestyle Notes to the Finaneial Statements for the Year Ended 31 Mareh 2022 The ioial cost relating to defined benefjt schemes for ih¢ year recognised in profjt or 105$ a5 an expense was £97,000.(M)12021- £65,000). The toial ¢osi relating to defiJKd benefit schernes for the year Ir￿l￿ded in the cost of an asset w&5 £0.00 (2021 £0.00). Recohciliuiion ofs¢heme 4ssets 4*dlI4￿-lI1i¢s lo ondli&biliiiu recognised The amounts recognised ITh the stalement of financbal position are as follows.. 2022 2021 Fair valu¢ of schem¢ assets Preseni value of defined benefit obligation 2.133.￿0 {2.757,0001 2.034.0 {2,892,0001 Defined benefLI pension scheme deficii (624,0001 1858,(H>O) Definedbenefil obligalio Changes in the defjned benefit obligation are as follows: 2022 Preseni value ai start of year Current service cosi Interest cost Actuarial 8ain5 ar￿ 105ses Benefits pasd Contribuiions by scheme participants 2.892.0 79,000 60,000 (280.0001 (6.000) 12,000 Present value ￿ erKI of year 2,757.000 Page 37 Aehieve Lifestyle Notes to the Financial Statements for the Year Ended 31 Mareh 2022 Foir value ofscheme o55ets Chan8e5 Ifb the fair value of scheme assets are as follows= 2022 Fair value at start of year Interesi income Actuarial gains and 1055es Employer contributions Contribuiw)ns by s¢heme parti¢ipanis Benefits paid 2,034,000 42.000 17.000) 58,000 12,000 6.000 Fair value ai end of year 2,133.(￿0 Anoly5is ofa￿ets The major ¢aiegories of scheme assets are as follows: 2022 2021 Cash and cash ¢quivalcnt5 Equity instruments Debi insrruments ProFttty 64 26 76 16 100 100 Return on Scheme a￿ets 2022 2021 Return on schcmr assds [7.￿0) 421.000 The pensson scheme has not invested in any of the charity's own financial insiruments or in properties or other assets used by ihe charity. The principal aciuarial &ssumpiions at the staiement of financial p)sition dale are a5 follows.. 20Z2 zozi Future salary iTh¢reases Future pension increases Page 38 Achieve Lifestyle Notes to the Financial Statements for the Year Ended 31 March 2022 Posl retiremenl mortality u5sunwlion5 2022 2021 Yurs years Current UK pensioners at retiffment age- mal¢ c￿￿ent UK pensioners at retirement age- female Future UK pensiontrs at retirement a8e- male Future UK pensioners ￿ reiiremeni age- female 22 25 23 26 22 25 23 26 Vits Curves wilh improvements in line wilh the CMI 2020 model &s5uming long tern) rdtes of improvement of 1.5Yo p.a. 20 Fund5 Other recogni5ed gains/{1055es} Balance ai 31 March 2022 B*l*nce *( I April 1021 Incorning Re50Urtes expended Unr¢stri¢t¢d fuDd5 General (1,166,552) 2,355.rn 12,604250) (1,415,030) Other {858.¢)00) {39.000) 273.￿0 (624.0001 Totgl unre5tritttd funds 12.024,552) 2,355,772 12,643.250) 273,IMbO (2,039,030) 115.000 Re5tricled funds 115.000 Total funds 1,909.552 2,355,772 2.643,250) 273,000 1,924.030 Other reeognistd gain51(losses) Balgnce ai 31 M#reh 2021 B*l•fvte •1 April 2020 Resoyttes expended resources Unrestricted funds General 16.664) 1.263,397 (2,423,285) {1.166,5521 her 1446.000) (8.000} (404,000) (858,000) Tolal unTe5tricted funds 1452.664) 1263,397 12,431.285) (404,000) 12,024,552) 115.000 Resirleted fund$ 115.000 Tfjtsl funiLs 1337,6641 1263,397 2,43 1,285) 1404,000) I1,￿9,552) Page 39 Achieve Lifestyle Note5 to the Financial Statements for Ihe Year Ended 31 M4r¢h 2022 Restricttd sinking fund5 were Set aside in 2011 by RunnyTrede Borou8h Council for the benefit of the facilities a5 part of the original agreemeni ir8nsf¢rring the services of operating ihese facilities to the Company. These funds were originally restricted ￿ support the repair or replacement of equipmeni associ*ed with the artificial f(x)tball pitc￿% ￿ Egham Leisure CeThtre. During 2017, RunThym¢d¢ Borough Council authorised payrneni of these funds ro the Company. for ih¢ Purpose of funding the developmetht of the 4G Piich ai Egham Orbil and improwements io ¢ar parking. During the year ended 31 March 2022. rKI expenditure Wd5 incurrcd from restrictcd fund5. 21 A*alysi$ of ntt 855ets between fund5 Total funds •¢ 31 M4rch 2022 U*restrieted f¥nd$ General Other Restrieted fund5 Tangible fixed assets Currcnl asset5 Curreni liabilities Creditors over l year Pension scheme liability 244.579 463,537 (2,006.846) (116.300) 244,579 578,537 (2.006,846) (116.300) (624,000) 115.000 624,(KlOI Total llei assets (1,415 030 624,(KlO 11 S.¢M)O {1,924,030) Total funds at 31 March 2021 Unrestrieted fyThds GeneTal Other Re5tTiCted funds Tangible fixrd a55¢ts Current assets Current liabilities credI￿r5 over l year Pension ￿h¢m¢ liability 313.683 236,982 (1.536.441) {180.776) 313.683 351,982 (1.536.441) (180.776) (858,000) 115,¢XIO (858,0001 Total nef 18sets ,166,552 858,000 15,000 {1,909,552) 22 Analysis of funds Al l April 2021 Fin#wcing c*$h flow5 At 31 March 21122 Cash at bank and in hand Debt due within one year Debt due after moTe than one year Finance lease5 and hirc purchase ¢ontracts Net debt 323.912 (25.231) (118.5671 163,073 219,492 (867) 26,201 100.909 543,404 126,098) 192.366) 62,164 17.041 345,735 362,776 Page 40 Athieve Lifestyle Noles to the Financial Statements for the Year Ended 31 March 2022 At l April 21120 Financing cash flows At 31 March 2021 Cash at bank and in hand Debt due within one year tkbt due after mor¢ than one year Firbancc leases and hire purchase ¢ontra¢ts 248.519 75.393 (25.2311 {118,567) 32.6251 323.912 125,231) (118,5671 163,073 130.448 Nei d¢bi 118.071 101.0301 17.041 23 Retsted party tr4ns*dits There were no further related party tra1￿¢1¥￿￿$ other ihan I￿$¢ already disclosed in the TNsteES and key management remuneration note5 in both the current and prior year. 24 Going c•neer Th¢ Chartty ha5 been ios5-making in th¢ year. generating an op¢rdting loss of £287k (202I= £1.163k) and is also iTh a nei liability rrf)sition a( the balance She￿ date. The perforniance and finaThcial positioTh are primarily the result of the Covid-19 pandemic which led to three national lockdown4 si8nificanily reducing income for both the ¢UTrenr and prior year. Combined with this are signif￿#￿1 fixed COS￿ primarily being ihe sile rentsl at Egham Orbit - see Noie 18 of the financial Slaltmtnis for fvrthtr dttai15. However. in November 2022 an agretmenl was reached with the landlord to agree a reduced. more 5U5tainable. annual rental char8e for the Egham Orbit 51te for the period 1st April 2021 3 1st March 2024. Siies were able to reopen from April 2021. SirK¢ then. the ¢harity has seen a significani increas¢ in membership numbers, although ￿entlY ihe increase in the C￿ of living in th¢ UK has staned to aff¢¢t membetship numb¢rs. AfteT reviewing the ChaTity'5 forccasts and projections and aftcr agreeing a rcduccd renlal chargt for the Egham Orbit site. the Tru5tees' have rea50fbable expcctaiions that the Charity has adequate re50urce5 to continue to operate and generate income leve15 sufficient to meets its liabiliiie5 as they fall due. As such, the Trustees have concluded rhat the Chariry is a going concern and the financial siaiements have been prepared on a going concern basis. The Trusiees considered this io be an appropriaie basis. despite the inherent material uncertainties resulting from ihe COVID-19 pandemie and the increase in rhe cost of living En the UK, based the Inforniation available tts them at the signing date. Page41