Registered number.. 07555631 Charity number: 1145613 UNITY LEISURE (A Company Limited by Guarantee> TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
UNITY LEISURE IA Company Limited by Guarant8el CONTENTS Page Reference and Admlnistratlve Detail$ of the Company, Its Trust8•s and Advisers Trustees. Report Indep8ndent Auditorfs Report on the Financial Statements 9-11 Stalement of Financial Actlvltles 12 Balance Sheet 13-14 Statement ol Cash Flows 15 Notes to the Financial Statements 16-37
UNITY LEISURE IA Company Limitsd by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021 Trustees C J Holmes M J Sawyer W Pope A K Ellis A D Riley D S Iles IresvJned 28 July 2020) R J Aveling A S King IresvJned 29 July 20211 P Jones Z Smith (reSned 29 July 20211 S Adams D Crowther H Barrett lappoinled 29 July 2021} Company registered number 07555631 Charity reglstered number 1145613 Registered offke 78 Robert Street Northampton NorthamptonshiTe NNI 3BJ Company secretary R J Austin Managing director J Fletcher Independent auditor hAHA MaclnlyTe Hudson Pelerbridge House The Lakes Northampton NN4 7HB Page 1
UNITY LEISURE IA Company Lirniled by Guarantge) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Bankers HSBC Bank St Clair House 5 Old Bedford Road Northampton NN4 7AA Members C J Holmes M J Sawyer Wesl Northamplonshire Borough Council Health Watch Northamptonshire University of Northampton Northamplonshire County Cricket Club Voluntary Impact Northampton Northamptonshire Sport Duston Parish Council Northampton Gener31 Hospital Age UK Northamplonshire Page 2
UNITY LEISURE IA Company Llmlted by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2021 The Trustees present their annual report together with the audiled financial stslemenls of the Company for the year 1 April 2020 10 31 March 2021. The Annual Report serves the purposes of both a Trustees. report and 8 directOTS' report under company law. The Trustees confirffl that the AnnLtal Report and finanaal sialements of the charitable ¢ompany Comply wlh the eurrent slatulory r8quirements, the requirements of the charitablo companvs governing document and the provisions of the Slalement of Recommended Practice ISORPI appllcable lo charitie5 preparing their aunt$ in accordance th the FinanrAal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS1021 leffecliv8 1 January 20191. Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium ar large companies under the Companies Act 2006 Islralegic Report arKJ Directors, Report) Regulations 2013 has been omitted. Objè¢tive5 and activltles . Policlos and obJoetlvè$ 'Inspiring Active LSfestyles' The Trust has sel itself flve priorities= To create and deliver initiatives for the improvement of Health & Wellbeing across the geographical area we serve. To improve on the Social Impact and value of our serviS. To conlinttously improve customer service and joufney by delivering high quality services and facilities. To generate income and SLtrpluses to allow us to invest, improve and increase our leisure offer. To enhan¢e our skilled and motivated workforce. In setting objectives and planning for acliwties. the Trustees have given due consideration lo general guidance published by the Charity Commission relating to FxJbli¢ benefit. including the guidance 'Public benefit.. njnning charity (PB2)'. b. Achlevements and performance The Trusts facilities have been closed for most of Ihg financial year bgcausg of Covid-19 restrictions. We havfr assisted where we have been able to with tho national effort to combat Covid by offering our cenlrg al Danes Camp for use as a mass testing cenlre. To be able lo remain solvent and viable has been d¢)wn lo the hard work and effort of out whole team and the main achievement for the year. . Main activities undertaken to fvrthgr the Company's purposes for the public bonefit The Tiustees have referre(I lo the Charity Commission'5 guidance on public benefit when deciding on the activities Unity Leisure provides. Unty Leisure prowdes public benefit in the following ways.- To promote for the public benefit the provision of facilities for le¢allOn or other leisure lime occupation foi individuals who have nged of such facilities by reason of thelr youth, age. infimily or disablement, rinancial hardshlp or social and economlc circumstances or for the public at large in the intergsts of sodal welfare and with the object of improving their conditions of life. To advance health for the public benefit by promoting participation In healthy exerclse and physical adivity. To advance education in the arts for the public benefit in particular bul not exclusively by the maintenance and mana9ernenl of 2 cAnema. Page 3
UNITY LEISURE (A Company Llmlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Achiovements and prfom)ancg . Kèy pèrfomian¢¢ indl¢ators The shadow c)f Covid 19 hangs heavy over the Tnjst and will have a massive impact on our flnancial perforrnance. We have seen our turnover reduce by over 60% {8xcluding Job Retention Scheme grants) and we have lost £570,000 during the 2020121 financial year. We have taken out a CBILS loan 01 £350,000 lo help manage our cashflows and ensurtr that we could continue to trade solvenuy. We have relied heavily on both the job retention scheme and busines5 interruption grants to continue trading and our medium term future has been secured by the award of a leisLre specific government grant of £530.000 to cover 2020121 and 2021122 finanoal years. For 2021122 we are expecting lo make a small surplus bul this is down to grants and assislallce that it unlikely lo be ceiVed beyond the current financial year. 11 is likely that il will lake until September 2022 before we reach a breakeven tx)silion and this is dependent on no further restrictions being put in a¢e. b. R¢vlew of a¢tlvltles During 2020121 the maiorily of our facllilies wer8 closed for 7 months. During the 5 months we were allowed to open we were 5everety restricted on what we were allowed to do. To ensure that our customers felt as comfortable as they could we changed the way our farylities were laid out to provide better social distancing betsyeen our customers. Extensive work and costs went into ensuring that the risk of Iransmitbng Covid was reduced as much as Teasonably possible. We continLted to engage closely with all members, through all of our active social media channels, we set up a filming slkjdio and deliVed onlinè live classes and activities and sel up 3 page for members to support our charity though a just giving page. We actively sourced all possible grants and funding opportunltles lo keep the businoss financially stsble an afloat and we over communicated with the team whi15t they were on furlough. Our facility at Danes Camp was used as a mass testing centre. Not only did this provide welcome employment for our staff bul much needed revenue for the business. Flnan¢lal rovlew - Going ¢oncern After making appropriate enquiries, the Trustees have a reasonable expeciation that the Company has adequate resources to continue in operational existen for the foreseeable future. For this reason. they continue lo adopt the going concern basis in pr8paring the financial statements. Further delsils règarding the adoption of the going concern basis can be found in the accounting policies. Page 4
UNITY LEISURE A Company Limited by Guaranteel TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 b. Reserves policy The resetves policy for the Trust sets out the cash largel level Df roserves of £600,000. This figure i8 made up of iwo key components namely.. £300,000 being the amount needed to manage fluctuation5 in cash flow £300,000 being the amount needed lo manage unforeseen expenditure or drops in inc¢Jne We currenlty do not sel aside any 8mounls to meet lulure expenditure as thi5 can all be funded by ongoing revenue. 11 is though part of our strategy lo develop a new reserve of up lo £400,000 so that we can lake advantage of opportunities as they come about. As at 31 March 2021 the value of cash reserves held was £616,600. It is though anlicipaled that the impact of Covid 19 will fully deplete 811 reserves of the Trust. Stwcturei govemance and management a. Constltution The Company is registered as a charitable company limited by guarantee Icompany number.. 075556311, governed by Memorandum and Articles of Association and was Sel up by a Trust deed in 2012. The company is consliluled under a Trust deed and is a registered charity and holds the registration number 1145613. The principal object of the company is lo operate for public benefit. facilities and 5eMces for leisure and recreation and be sustainable. The charitable company operates under the name'Northampton Leisure Trusr. b. Methods of appointment or electlon of Trustees The management of the Company is the responsibility of the Trustees who are elected and ¢o-opled under the terms of the Trust deed. . Policies adopted for the induction and training of Trustees Trustees a appointed and their conduct governed by the charitable company's Articles of Association and Code of Conduct. New Trustees are recruited through local advertisements and any appointment would be based on an assessment of the reqUId abilities and, if appropriate. specialist skills required by the board. All current Trustees have received training lo brief them on the1r legal obligations under charity and company law, the conlenl of the Memorandum and Articles of Association, the committee and decision making process, the Business Plan and financial monitoring of the charitable companls performance. Any new TTUSteelsl will receive a commensurate level of training in accordanco with the Trustee induction policy. None of the TTuslees receive remuner8tion or other benefit from their work wrth the charitable company. Page 5
UNITY LEISURE IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Structure. governance and management Icontinuedl d. Pay policy for senior staff The remuneration of the Managing Director and the Finan Director is considered by a Remuneration Committee. Other pemianenl staff are remunerated using an evaluation model promoted by the Joint Negotiating Council. Where this is not appropriate, market rates are applied. Remuneration is based on a combination of market rates. performance and the need lo retain key members of staff. Organisational structure and decision making The Board of Trustees, which can Contain up to 15 members. administers the charitable company. The board meets on a bi-monlhty b8sis and there are the folk)wing 5ub-committees'. Audit Committee. Remuneration Committee, The Managing Director and the Finance Director are appointed by the Trustees lo manage the day lo day operations of the charitable company. To facilitate effective operations the Managing Director and the Finance Director have delegated authority. within the lenns of delegation approved by the Trustees, for all operational and administrative functions including finance, HR and IT. f. Risk management The Trustees have a risk management strategy which comprises.. An annual review of the risks the charitable company may face, The eslablishmenl of systems and procedures to mitigate those risks identified in the plan., Implemenlalion of piocedures designed lo minimise any potential impact on the charitable company should those risks malerialise. This work has identified that financial Skjstainability is the major financial risk for the charitable company. Particular allenlion has focused on financial risk with regard lo the FRS102 pension liabilily, assessing Unity Leisure's exposure lo ils f8¢iSities repair and m8inlenan¢e costs, the monthly monitoring of trading performance together with an assessment of the key performance indicators and the implemenlalion of a prudent reserves policy. Non-financial risk is also regularty assessed with gard lo company operations and ensuring continued usage Of facilities through capital Investment strategy and operalional aclivty reviews. In particular, work has been undertaken lo identify and miligale health and safety issues within operational areas. This approach to risk management has resulted in better emergency procedures and contingency plans 8nd has given the impelus for better planning and service delN8ry. Plans for future periods In September 2018 the Trust launched ils strategy for the next five years where the Trust would be 'lnspiring Active Lifestyles. The strategy is clear In that we are moving from just helping people keep fil bul we are playing a key role in improving the health and wellbeing of the communilies we serve. Inaclwily Is Ihe biggest killei in this country and by giving the people of Northampton vafied and high quality opportunities to gel active we are not only improving their lives bul will, in ILJrn, be reducing the burden on Dlher public services. To achieve our ambition, a key outcome is lo improve and expand the range of facilities and activrties on offer. Full details of our Slrategy Is available al http.llww.trilogyleisure.co.uk/aboul. Page 6
UNITY LEISURE (A Company Llmited by Guarantee) TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2021 Funds held as ¢ustodian There are no funds held as Custodian. Engagement wlth gmployees and employment of the dlsabled Employees have been consulted on issues of conrn to them by means of regular consultalwe committee and staff meetings and have been kept informed on specific matters direely by management. The Company carries out exil interviews for all staff leaving the organisation and has adopted a procedure of upward feedback for senior management and the Trustees. The Company has implemented a number of detailed policies in relation to all aspects of pgrsonnel mallers including.. Equal opportunities PDIICY. Volunteers, policy. Health & safety policy. In a)rdance wlh the Companls equal opportunities policy, the Company has long-established fair gmployrnent practices in the recruitment. selection, retention and tralning of disabled stsff. Full detsils of these policies are available from thè Compan¥s offices. Statement of Tru$tee$' rèsponslbllltles The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing tha Trustee5' Report and the financial slalements in accordancg with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company18w requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees musl rt approve the financial slalements unless they are satisfied that they give a true and fair view of the state of affairs of the copanY and of its incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial sialèments, the Trustees are required to.. select sultable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent- stale whether applicable UK Accounting Standards {FRS 102} have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the Company will continue in businoss. The Trustees are responsible lor keeping adequate accounting records that are sufficient to show and explain the Companvs transa¢lK)ns and disclose wth reasonable accuracy al any tie the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonaNe steps for the prevention and detection of fraud and other irregularities. Page 7
UNITY LEISURE (A Company Limited by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARGH 2021 Disclosure of infomiation to auditor Each of the persons who are Trustees al the time when this Trustees, RepLYt is approved has confirmed that.. so far as that Trustee is aware. ihere is no relevant audit infomiation of which the chaTiWs auditor is unaware, and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitys auditor is aware of that information. Auditor The auditor, MHA Maclntyre Hudson, has indic8led his willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor at a meeting ol the Trustses. Approved by order of the members of the board of Trustees and signed on their behalf by.. C J Holmtrs Trustee Date.. Ll_ oq-21 Page 8
UNITY LEISURE IA Company Llmlted by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNITY LEISURE Opinion We have atjdited the financial statements of Unity Leisure {Ihe 'eharilable companll for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Slalement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, Iunited Kingdom Generalty Aceepted Accounb'ng Practicel- In our opinion the financial statements.. give a true and fair view of the state of the charitable companls affairs as at 31 March 2021 and of its incoming resources and application of re59ur¢es, including 115 income and expenditure tor the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Atrounling Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Ba51s for oplnlon We conducted our audit in accordance with International Standards on Auditing {UKI {ISAs (UKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial slalements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are lelevant to our audtt ol the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance wlh these requirements. We believe that the audit eVence we have oblaified is sUffIent and appropriate lo provide a basis for our opinion. Conclusions relatlng lo 90Sng concern In auditing the financial stalemenls. we have concluded that the Trustees, use of the goin9 coneem basis of accounting in the preparation of the financial statemer¢ls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubl on the charitable companls ability lo continue as a going concern for a period of al least twelve monlhs from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustee$ with respect to going concem are described in the relevant sections of this report. Page 9
UNITY LEISURE IA Company Llrnited by Guaranteè) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNITY LEISURE (CONTINUED) Other informatlon The other information Comprises the infomation included in the Annual Report other than the financial slalements and our Audilorfs Report thereon. The Trustees are responsible for the other infomation contained within the Annual Report. Our opinitsn on the financial statements does not etsver the other informab'on and, except lo the extent otherwise explic1Y slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to fe2d the other infomialion and, in doing so, consider whether the other information 15 malerialty inconsislenl with the financial statements or our knowledge obtained in the course of the audit. or tslherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls, we are required lo determine whether this gives rise to a material misslatemenl in the financial statements themselves. If, based on the work we have performed, we ctsnelude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing lo report in this regard. Oplnlon on other matters prescribed by the Companies A¢t 2006 In our opinion, based on the work undertaken in the course of the audrt.. the information given in the Trustees, Report for the financial year for which the financial statements are preparecj is consistent wlh the financial stalemenls. the Trustees. Report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understanding of the charitable company and ils environment obtained in the course of the audit. we have not identified material misstalemenls in the Trustees, ReporL We have nothing lo report in respect of the followng matters in relation lo which Companies Act 2006 requires us to report to you rf, in our opinion.. adequate ?ccounling records have not been kept, or returns adequate for our audit have not been reIVed from branches not visited by us., or the financial statements are not in agreement with the accounting records and retums., or certain disclosures of Trustees, remuneration specified by law are not made.. or we have not received all the information and explanations we require for our audit.. or the Trustees were not entsded to prepare the financial ststemenls in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustee5' Report. Responsibilities of trustees As explained more fully in the Trustee5' ResponsibilTties Ststement, the Trustees (who are also the directors of the charitable cornpany for the purposes of eompany lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such inlemal control as the Trustees detemine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial stalemenls, the Trustees are responsible for assessing the charitable Company's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend to 5iquidale the charitable company or to ¢ease operatsons. or have no realistic alternative but lo do so. Page 10
UNITY LEISURE (A Company Llmlted by Guarantee} INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF UNITY LEISURE (CONTINUED) Audltor's re8ponslbllities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and lo issue an Auditorfs Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in a¢coidance with ISAS IUKI wll always detect a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonabty be expected to influents the economic decisions of users tsken on the basis of these finaneial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line wrth our responsibilities, outlined above, to detect material misstatements in respect of irregularities, in¢luding fraud. The extent lo which our procedures are capable of detecting irregularities, including fraLtd is detailed below.. Obtaining and understanding of the legal and regulatory frameworks that the Charity operate5 in. focusing on those laws and regulations that have a direct effect on the financial statements., Enquiring of management and Trustees around known or suspected Instances of non-compliance ol laws and regulation5 and fraud.. Discussing among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.. Reviewing minutes of meetings of those charged with governance., Reviewing fi'nancial statement disclosures and testing to supporting documentstion lo assess compliance with applicable laws and regulations. Perfomiing audit work in relation to the lisk of mana9ent override, including lesling of joumal entries and other adjustments for appropriatness and reviewing accounting estimates for bias. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. .frc.or .ukJaudilorsres onsibilities. This description foms part of OLJr Auditor's Report. Use of our POrt This ieport is made solely lo the charitable company's members, as a body, in accordance Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company'5 members those matters we are required to stale lo them in an Audilovs Report and for no other purpose. To the fullest exlenl permilled by law. we do not accept or assume responsibility to anyone other than the charitable company and its members. as a body, for our audit work, for this report, or tor the opinions we have formed. Rebecca Hughes Bsc (Honsl FCCA (Senior Ststutory Auditor} for and on behalf of MHA Maclntyre Hudson ststulory Auditors Peterbridge House The Lakes Northampton NN4 7HB Date.. 25 NovÈmbÈr 2021 Page 11
UNITY LEISURE (A Company Limited by GuaTanteel STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2021 Re5trictod Unrestricted funds funds 2021 2021 Total funds 2021 Total funds 2020 Note Income from: Charitable activities Other trading activities Investments Other income 1,699,877 1,699,877 6,684,523 21 11,000 2,173,694 11.000 2,229.163 55,469 123.895 Total Income 55,469 3,884,571 3,940,040 6,808,439 Expenditure on: Charslable activities 55,469 4,649,104 4,704,573 6,938,592 Total expendlture 55,469 4,649,104 4.704,573 6,938,592 Net movement in funds before otheT recognised gainsl{losses) Other recognlsed galnsl(losses): Actuarial {lossesllgains on defined benefft pension Schemes {764,533) 1764,5331 1130.1531 23 {518,0001 1518.000} 1,031,000 Net movement in fund$ Reconclliation of funds: Total funds brought forward Nel movement in funds {1.282.5331 {1,282,533) 900,847 1.931,706 1,931,706 (1.282,533) 11,282,533) 1,030,859 900.847 Total funds carrled for•vard 18 649,173 649,173 1.931,706 The Statement ol Financial Activib'es includes 811 gains and losses recognised in the year. The notes on pages 16 10 37 fomi part of these finanoial statements. Page 12
UNITY LEISURE IA Company Limlted by Guarantee) REGISTERED NUMBER: 07555631 BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Note Fixed asset$ Intangible assets Tangible assets 16,006 1,111,668 15.079 1,531,934 12 1.127.674 1,547.013 Current assets Stocks Deblor5 Cash at bank and in hand 13 14 25.856 383.849 616,600 39.024 276,293 478,132 1,026,305 793,449 Creditors." amounts falling due within one year 15 1792,3031 {611,3311 Net current assets 234,002 182,118 Total assets less current liabilities 1,361,676 1,729,131 Creditors.. amounts falling due after more than one year Net assets excludlng pension Ilabillty I asset 16 (544,5031 (346.4251 817.173 1,382.706 Defined benefit pension scheme liability I asset 23 (168.000> $49,000 Total net assets 649.173 1,931,706 Charity funds R2slricled funds Unrestricted funds 17 Unreslricled funds excluding pension asset I liability Pension reserve 17 17 817,173 1168.0001 1.382,706 549,000 Total unreslricled funds 17 649.173 1,931,706 Total funds 649.173 1.931,706 Page 13
UNITY LEISURE IA Company Limited by Guarantee) REGISTERED NUMBER: 07555631 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2021 The Trustees acknowledge their responsibilities for complwng wlh the requirements of the Act with respect lo accounling records and preparation of financial slalemenls. The financial slalements have beon prepared in accordance with the provisions applicable lo enlilies subject to the small companies regime. The financial slat8m&nts were approved and aulhorised for issue by the Trustees and signed on their behalf by. C J Holmes Trustee Dale.. The notes on pages 16 10 37 form part of these financial stslemenls. Page 14
UNITY LEISURE IA Company Limited by Guaranleel STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Cash flows Irom operating activities Net cash used in operating activities {33.6851 565,344 Cash flows from Investlng actlvltles Purchase of intangible assets Purchase of tangib fed assets {4,3701 {3,595) 1207,1641 Net cash used in investing activities {7,965) 1207,1641 Cash flows from flnanclng actlvltles Cash inflows from new borrowin9 Repayments of borrowing Repayments of finance teases 350,000 160,0001 195,7101 1169.9821 Net cash piovlded byllused In) financing activities 180,018 115S.7101 Change In cash and cash equlvalents in the year Cash and cash equivalents al the beginning of the year 138,468 202,470 275,662 478.132 Cash and cash equivalents at the ènd of the year 616,600 478.132 Page 15
UNITY LEISURE IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 General infomiation Unity Leisure is a private limited company limited by guarantee and registered in England and Wales. Registered company number 07555631 and charity number 1145613. The registered office and principal Iradiny address is Unity House, 78 Robert Street, Northampton, Northamplonshire. NNI 3BJ. Accounting policies 2.1 8asis of prèparation of financial statements The financial statements have been prepared in accordance with the Charitie5 SORP (FRS 1 D21 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 20CE. Unrty Leisure meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern The financial statements have been prepared on a going concern basis. The Trustees have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment. The COVIO-19 pandemic and the ensuing economic shutdown has h8LI a significant impact on Ihe charitable company's oper*ions. In response lo the COVID-19 pandemic, the Trustees have perfomied a robust analysis of lorecasl future cash flows taking into account the potential impact on the business of possible future scenarios arising from the impact of COVID-19. This analysis also considers the effectiveness of available measures lo assist in mitigating the impact. The Trustees have not identified any further material uncertainties that may cast significant doubt about the ability of the charitable company lo continue as a going concern. The ch8rilable company's business activities, together wilh the factors likely lo affect ils fulure development, performance and position, it5 cash flows and liquidity posrtion have been assessed. The charitable company has sufficient financial resources together with long tèrm contracts for all of ils six trading centres. The Trustees understand Ihat the transactions that are required to be placed in our financial stat&menls in relation to our pension fund are prepared in accordance with assumptions sel by FRS 102 and produce a Material different sel of figures than those produ¢ed by the pensions fund actuary for the purpose of calculating our actual share of assets and liabilities as well as those used to assess contribution levels. The Trustees 8Sso understand that. In acwrdance with the laws 8nd regulations surrounding the operation of the pension fund, the recovery of any difference between the assets and Iiabililies on the fund will be agreed and sel al each triennial valuation. and are based on a 20 year recovery period. As a consequence, the Trustees beIve that the charitable company is well placed to manage its business risk successfully. Based on these assessments and having regard lo the resource5 available lo the charilable Company, the Trustees have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts. Page16
UNITY LEISURE {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting polici8s Icontinuadl 2.3 Income All income is recr)gnised On the Company has enlillemenl to the income, (( is probable that the income will be received and the amount of income receivable can be measured reliabty. Membership lees Membership fees are amounts payable to Unty Leisure on 8 monthly basis for usage of the leisu facilities. Details of the various membership categories and the benefits they offer can be found on our website al wwN.IrilDgyleisure.co.uk. Centre fe Centre fees are amounts payable lo Unity Leisure on a visil-by-msit basis for usage of the leisure facilities. Details of opening limes. activity tables and charges are all available on our website. Management fees Management fees are the fees paid by Wesl North8mptonshire Borough Council for the operation of the facilities and the provision of a Sport and Play Development servi. Grants receivable Grants are accounted for when condrtions lo enlillement have been met. Income lax recoverable in relation lo investment income is recognised al the time the investment income is feceivable. Other income is recognised in the period in which il 15 receivable and to the extent the goods have been provided or on completion of the servi. 2.4 Expendlture Expenditure is recognised once there is 2 legal or conslruclive obligation lo transfer economic benefit lo a third paty, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classrfied by activty. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs altributable lo a single activty are allocated direclly to that activity. Shared costs which contribute lo more than one 8clivty and support C0515 which are not attributable lo a single activity are apportioned betseen those activities on a basis consislenl with the use of resources. Central staff costs are allo¢aled on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable aclivrties is incurred on Llirectly undertaking the 8¢1ivilies which further the Company's objectives, as well as any associated support costs. All expenditure is inclusive of Irreverab1e VAT. 2.5 Government grants Job retention scheme grants are credited lo the Statement of Financial Activities as the related expenditure is incurred. Page 17
UNITY LEISURE (A Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies Icontinuedl 2.6 Intangible assets and amortlsation Intangible assets costing £1,000 or more are capilalised and recognised when future economie benefits 8re probable and the cost or value of the asset can be measured reliabty. Intangible assets are Initial recognised at cost. After recognition, undeT the cost m(xJel, intangible assels are MeasUd at cost less any accumulated amortisalion and any accumulated impairmant losses. Amortisalion is provided on intangible a55ets at rates calculated lo write off the cost of each asset on a slraighl-line basis over ils expected useful lrfe. The eslimaed useful INes are as follows.. Amortisalion is provided on the following basis.. Computer sofre 5 years 2.7 Tangible fixed assets and depreciation Tangible fixed assets eosling £1.000 OT more are capitalised and recognised when fulure economic benefits are probable and the cost or value of the asset Gan be measured reliably. Tangible fixed assets are inilialty recognised al cost. After recognition. under the cost model. tangible fixed assets are measured al cost less accumulated depiecialion and any accumulated impairment losses. All costs incurred to bring a t8ngible fixed asset into its inlended working condition should be included in the measuTemenl of cost. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, using the straighl-line method, Depreciation is provided on the following b8SeS'. Leasehold propety improvements Plant and machinery Motor vehicles Office equipment, fixtures and fillings Computer equipment Sports equipment 5- 25 years 5-10years S years 5- 10years 5-8years 5-7years 2.8 Stocks Stocks are valued at the lower of cost and nel realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direcl costs and an appropriate proportion of fixed and variable overheads. Page18
UNITY LEISURE {A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accountlng pollcies Icontlnuedl 2.9 Debtors Trade and other debtors are recognised at the selllemenl amoLTrnt 8fter any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.11 L5abilitles Liabilities and provisions are recognised when Iheie is an obligation al the Balance Sheet dale as result of a past event, it is piobable that 2 transfer of economic benefit will be required in selllemenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anli¢ipale5 11 will pay lo sattle the debt or the amount il h8s received as advanced payments for the goods or seN*ces Il must provide. P¥0}risnS are measured al the best estimate of the amounts required lo setlk the obligation. Where the effect of the time value of money is maleri81, the provision is based on the present value of those amounts, discounted * the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Slalemenl of Financi81 Activities as a finance cost. 2.12 Flnanclal Instruments The Company onty has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are inf(ially recognised al transaction value and subsequenlty measured al their selllement value wf(h the exeeplion ol bank loans which are subsequently measured al amortised cost using the effeclive interest fflelhod. 2.13 Finance leases and hire purchase Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful Itves. Finance leases are those where subslanlialiy all of the benefits and risks of rywnership are assumed by the Company. oblallOnS Ljnder such agreements are included in creditors, nel of the finance charge allocated lo future periods. The finance element of the rental payment is charged to the Statement of Financial Activities so as lo produce a constant periodic rale of charge on the net obligation outstanding in each period. 2.14 Pensions The Company operates a defined contribution pension scheme and the pension charge represents the amounls payable by the Company lo the fund in respect of the year. The Company operates 8 defined benefits pension scheme and the pension charge 1$ based on a full actuarial valuation dated 31 March 2021. Page 19
UNITY LEISURE A Company Llmlted by Guarantgel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies (continued) 2.15 Fund accounling General funds are unreslricled funds which are available for use al the discretion of the Trustees in furtherance of the gener81 objectives ol the Company and which have not been designated for other purposes. Reslricled funds are funds which are lo be used in accordance with specific reslriclions imposed by donors OT which have been raised by the Company for particular purposes. The cos15 of raising and administering such funds aTe charged against the specific fund. The aim and use of each reslricled fund is sel out in the notes to the financial slalements. Critical accountSng estimates and areas of judgment Estimates and judgments are continually evaluatecl and are based on historical experience and other factors, including expectations of lulure events that are believed to be reasonable under the circumsiances. Critical accounting eslimales and assumptions.. The Company makes estimates and assumptions ¢oncerning the futu. The resulling aceounling e81imates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment lo the carrying amounts of assets and liabilities within the next financial year are discussed below. The present value of the defined benefil pension scheme depends on a number of faciors that are determined on an actuarial basis using a variety of assumption5. The assumptions used in delemiining the net cost or income for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 23, wll impact the carrying amount of the pension asset or liability. Income from charltable activitles Unrestricted funds 2021 Total funds 2021 Membership fees Centre fees Sales Miscellaneous income 1,286,275 223,805 22.331 167.466 1,2B6,275 223,805 22,331 167,466 Tolal 2021 1,699,877 1,699.877 Page 20
UNITY LEISURE IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Income from charitable activities {continuedl Unrestricted funds 2020 Total funds 2020 Membership fees Centre fees Sales Commission 4,459.899 1,573,569 594,513 4,477 52,065 4,459,899 1.573,569 594.513 4,477 52,065 Mis¢Èllaneous income Total 2020 6.664,523 6,684,523 Income from other trading activities Incomo from fundralslng events Total funds 2021 Fundraising Unreslricled funds 2020 Total fund5 2020 Fundraising 21 21 Page 21
UNITY LEISURE IA Company Limlted by Guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Other incomlng resources Restricted Unrestrict¢d funds funds 2021 2021 Total funds 2021 Kings Heath active England project Street football project Cinema Pl8y and sport development Inspired coaching Grant income Peterborough gym Job retention scheme 1,500 1,500 55,469 24,952 6,281 230 447.652 3,000 1,690,079 55,469 24,952 6,281 230 447,652 3,000 1,690,079 Total 2021 55.469 2,173,694 2,229,163 Reslricled Unrestricted funds funds 2020 2020 Total funds 2020 Kings Heath active England project Street football project Cinema Play and 5POrt development Inspired CO8Ghing 5.311 5,311 88,014 1,054 11,321 18,195 88.014 1,054 11,321 18,19S Total 2020 88,014 35.881 123,895 Page 22
UNITY LEISURE A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Analysis of expenditure on charitable activities Sumrnary by fund type Restricted Unrestrlcted funds funds 2021 2021 Total funds 2021 Operational sl8ff costs Purchases Staff costs - HQ staff costs Bank charges Insuranee Irrecoverable VAT 55,489 2,672,555 855,440 566,722 12,891 49.250 102.425 380,715 9,106 2.728.024 865.440 566.722 12,891 49,2SO 102,425 380,715 9.106 Other costs Governance costs Total 2021 55,469 4,649,104 4,704.573 Reslricled Unrestricted funds funds 2020 2020 Total funds 2020 Operational staff eosls Purchases 82,479 5,535 3,220,602 1,835,458 849,020 17,816 70,868 191,510 655.297 10,007 3,3D3,081 1,840,993 849.020 17.816 70,868 191,510 655.297 10,007 Staff costs - HQ staff costs Bank charges Insurance Irrecoverable VAT Other costs Governance costs Total 2020 88,014 6,850,578 6,938,592 Page 23
UNITY LEISURE IA Company Limlted by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Auditor's remuneration 2021 2020 Fees payable lo the Company's auditor for the audit of the Company's annusl accounts Fee5 payable lo the Cornpanls audiloT in respect of.. All non-audit services not included above 9.000 8,500 1,700 1,600 Staff costs 2021 2020 Wages and salaries Social security costs Contribution lo defined Contribution pension schemes 2,897.889 165,018 231,839 3,548.788 209,553 383,760 3,294,746 4,142,101 The average number of persons employed by the Company during the year was as follows.. 2021 No. 2020 Management and adminislralion Operational 19 29 2SO 294 269 323 Page 24
UNITY LEISURE A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Staff costs Icontinuedl The numbei of employees whose employee benefrts (excluding employer pension costs) exceeded £60,000 was.. 2021 No. 2020 No. In the band £60,001- £70,000 In the band £70,001 - £80,000 In the band £80,001 - £90,000 In the band £90,001- £100.000 In the band £100,001- £110.OIX) The key management personnel comprise the Managing Director, the Finance Director, the Director of Performance, Planning Development and Operations and the Director of Health and Wellbeing Development Operations. The total employee benefEts of key management personnel of the Charity were £236,70512020- £378.9781. 10. Trustees. remLTrn8ration and oxpen$8s During the year ended 31 March 2021, no Trustees receNed any remuneration or other benefils12020 - £Nill. During the year ended 31 March 2021, no Trustee expense5 have been incurred12020- £Nill. Page 25
UNITY LEISURE IA Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 11. Intangible assets Cornputer software Cost At 1 April 2020 Additions 63,101 4,370 Al 31 March 2021 67,471 Amorti$ation Al 1 April 2020 Charge for the year 48,022 Al 31 March 2021 51,465 Net book valu8 Al 31 March 2021 16,006 Al 31 March 2020 15,079 Page 26
UNITY LEISURE IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 12. Tangible fixed assets Leasehold propety Other fixed Improvements assets Total Cost Al 1 April 2020 Additions 1,394,166 2.125,367 3,595 3.519,533 3.S95 At 31 March 2021 1,394.166 2,128.962 3,523,128 Depreclation At 1 April 2020 Charge for the year 551.775 153,011 1.435,824 270.850 1,987,599 423,861 At 31 March 2021 704,786 1,706,674 2,411,460 Net book value At 31 March 2021 689.380 422,288 1,111,668 Al 31 March 2020 842,391 689,543 1,531,934 13. Stocks 2021 2020 Finished goods and goods for resale 25,856 39,024 Page 27
UNITY LEISURE IA Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 14. Debtors 202 2020 Due within one year Trade debtors Other debtors Prepayments and accrued ineome 185,661 6,435 191,753 47,546 228.747 383,849 276,293 IS. Credltors: Amounts falling due within one year 2021 2020 Bank loan Other loan Trade creditors Olher laxalion and social security Obligations under finance lease and hire purchase contracts Other creditors Accruals and deferred income S2,500 30,000 30,000 19,604 75,652 151,393 24,941 309,741 50,120 80,833 4,689 572,715 792,303 611,331 16. Creditors: Amounts falling due after more than one y$ar 2021 2020 Bank loans Obligations under finance lease and hire purchase contracts 297,500 247,003 346,425 544,503 346,425 Page 28
UNITY LEISURE IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 17. Statem¢nt of funds statement of funds . current year Balance at 31 March 2021 Balance at 1 April 2020 Gainsl (Losses) Income Expenditure Unrestricted funds General FLEnds all funds Pension reserve 1,382,706 $49,000 3,873,571 11,000 14,439,104) 210,0001 817,173 1518,0001 1168.0001 1,931,706 3,884,571 14.649,104> 1518,0001 649,173 Restricted fund5 Restricted Funds - all funds 55.469 155,469> Total of funds 1,931,706 3,940,040 14,704,573) IS18,0001 649,173 Page 29
UNITY LEISURE IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 17. Statement of funds (continued) Statement of funds - prior year Balance al 31 March 2020 Balance al 1 April 2019 Gainsl (Lossesl Income Expenditure Unrestricted fund5 General Funds- all funds Pension reseNe 1,325.859 {295,0001 6,720,425 16,663,578) 1187,0001 1.382,706 549.000 1,031,000 1,030,859 6,720,425 18,850,578) 1,031,000 1,931,706 Restrictèd funds Restricted Funds all funds 88,014 188,0141 Total of funds 1,030,859 6,808,439 18,938,592) 1,031,000 1,931,706 18. Summary offunds Summary offunds- ¢urrentyear Balance at 31 March 2021 Balance at 1 April 2020 Gainsl (Losses) Income Expenditure General funds Restricted funds 1.931.706 3.884.571 55,469 14.649,1041 1518.0001 155,4691 649,173 1,931,706 3,940,040 14,704,573) 1518,0001 649,173 Page 30
UNITY LEISURE IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 18. Summary of funds Icontinuedl Summary offunds- prioryear Balance al 31 March 2020 Balance al 1 April 2019 Gainsl (Losses) Income Expenditure General funds Reslricled lunds 1.030,859 6,720.425 16,850,578) 1,031,000 88,014 188,014) 1,931,706 1,030.859 6,808,439 16,938,592) 1,031,000 1,931,706 19. Analysls of net assets between funds Analysls of net assets between funds - current year Unrestricted funds 2021 Total funds 2021 Tangible fixed assets Intangible fixed assets Current assets Creditors due wlhin one year Ciedilors due in more than one year Provisions for liabilities and charges 1,111,668 1,111,668 16,OC 16.008 1,026,305 1,026.305 1792,3031 {792.3031 1544.5031 1544,5031 1168,0001 1168,000 Total 649,173 649,173 Page 31
UNITY LEISURE IA Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 19. Analysis of net assets between funds {contlnuedl AnalysÈs of net assets between funds - prior year Unrestricted funds 2020 Total funds 2020 Tangible fixed assets Intangible fixed assets Current assets Ciedilors due within one year Creditors due in more than one year Provisions for liabilities and charges 1,S31,934 1,531,934 15,079 15,079 793,449 793,449 1611,3311 {611,3311 1346,4251 lJ46,4251 549,000 549,000 Total 1,931,706 1,931,706 20. Rèconciliation of net movement in funds to net cash flow from operating activltlos 2021 2020 Nel expenditure for the year las per Slalement of Financial Aclimliesl 1764,533} 1130.153) Adjustments for.. Depreciation charges Amortisation charges Decrease in stocks Decreasellincreasel in debtors Increase in CTedilors Defined benefit pension scheme movements 423.861 3.443 13,168 {107,556} 199,032 199.000 438.533 3.923 1,768 44,765 19,508 187,OLIO Net cash provided byllused inl operating activities 133,5851 565,344 Page 32
UNITY LEISURE IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 klARCH 2021 21. Analysls of cash and cash equivalents 2021 2020 Cash in hand 616.600 478,132 Total cash and cash equlvalents 616.600 478,132 22. Analysls of changes in net debt At 31 March 2021 2020 Cash flows Cash al bank and in hand Debt due within 1 year Debt due after 1 year Finan leases 478,132 130,0001 138,468 52,5001 1297,5001 169.982 616,600 82,5001 1297,5001 1327.836} 1497,818 149.686) 141,5501 191,2361 23. Pension commitments The Company operates a defined benefit pension scheme. The charitable company operates a funded defined benefit scheme for the benef t of rtain employees in conjunction with a local government defined benefrt pension scheme. Entry lo the scheme was granted through an Admission Agement signed by the Pension Adrninislralor, the Transferor (West North8mplonshire Borough Council) and the Tiusl. Undef the lemis of this agreements the accrued benefits al the lime of ITansfer11 April 20111 would be treated as fully funded and the contribution rale calculated on this basis. These Iigures were calculated using the assumptions in place al the lime of 31 March 2010 revaluation. The figures in these accounts have been calculated in accordance wilh the provision of Financial Reporting Standard 102. This method of calculation uses a different sel of assumptions than the aCtuaal rnethod described above. As such any surplus or deficit from an accounting perspective would not necessarily reflect the actual funding position using the valuation method, For this year's accounts the Trust opted lo use a sel of bespoke assumptions which have been agreed wth the Fund's Actuary., Hyman Robertson LLP. These assumptions reflect beller the Trust's circumstances whh are subtly different from the main employers in the fund. These assumptions are consislenl with the requirements ol FRS 102. Page 33
UNITY LEISURE IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Pension commitments Icontinuedl The assets of the scheme are administered by Iruslees in B fund independent from those of the charitable company. Conlribul¢ons are made both by the employer and employee and are based on a pefcenlage of pensionable pay. In addition the Trust makes a fixed sum paymenl lo pay back any funding deficit. This is based on a 20 year repayment limelrame. In the year ended 31 March 2021 Unity Leisure paid an ernployers, contribution of £NIl12020'. £180,000) representing Ook 12020.. 276.920AI of employee contributions into the Local Government Pension Scheme, which prowdes membets wTlh defined benefrts related to pay and service. Pension costs are assessed in accordance with the advice of a qualified actuary using the proeded melhDd. The most recent actuarial valuation of the scheme wa5 al 31 March 2021. Prinapal actuarial assumptions al the Balance Sheet dale (expressed as weighted averages)". At 31 March Al 31 Mah 2021 2020 Discount rale Expected return on scheme assets Futijre salary increases Future pension increases 2.15 2.15 2.55 At 31 Mah Al 31 March 2021 2020 Years Ye&rs Mortality rates lin years) -for a male aged 65 now - al 65 foi a male aged 45 now - for a female aged 65 now - al 65 for a female aged 45 now 21.5 22.3 21.5 22.3 23.7 25.1 23.7 25.1 The Company's share of the assets in the scheme was.. At 31 March Al 31 March 2021 2020 Equities Corporate bonds Property Cash and olhef liquid assets 8,481,200 2.059.720 1,453.920 121,160 6,415,860 1,749,780 1,380,940 194,420 Total fair value of assets 12,116.000 9,721,000 Page 34
UNITY LEISURE IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 23. Pension commitments Icontinuedl The actual return on scheme 8ssels was £2,534,00012020- £-663,0001. The amounts recognised in the Stslemenl of Finaneial Activrties ale as follows.. 2021 2020 Current semce cost Interest income Interest cost (210,000} (357,0001 241,000 275,000 {230,000} 1285,0001 Total amount recognlsed In the Ststement of Financial Actlvities 1199.0001 1367,0001 Movements in the present value of the defined benefit obligation We as follows.. 2021 Opening defined benef obligation Interest cost Conlribulion5 by scheme participants Actuarial lossesllgainsl Benefits paid Current service wst 9,172,000 230,000 53.000 2,811,000 1192,0001 210.000 Closing deflned beneflt obligation 12,284,000 Movements in the fair value of the Company's share of scheme assets were as follows.. 2021 Opening fair value of scheme a$sels Expected return on assets Actuarial gainslllossesl Conlfibutions by employer Contributions by scheme participants Benefits paid 9,721,000 241,000 2.293.000 53,000 1192.000} Closing fair value of scheme assets 12.116,000 The Company expects to contribute £20,000 to rts defined benefit pension scheme in the year ended 31 March 2022. Page 35
UNITY LEISURE IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 24. Operating lease commitments At 31 March 2021 the Company had commitments to make future minimum l&ase payments under non- C8ncellab5e operating leases as follows.. 2021 2020 Not later than 1 yea¥ Later than 1 year and not later than 5 years Later than 5 years 92,000 335.SOO 47.250 92.000 368,000 106.750 474,750 566,750 West North8mplonshire Borough Council provided the land and leisure cenlres at Mounts Baths and Danes Camp Cenlre for the use by the charity lo operate sports cenlres, renl free, throughout the year and previous year. The land and buildings were provided under operating leases lo 2041 respectively. The land and buildings of Lings Forum was provided by West Northamplonshire Borough Council, rent free, urider 8 serwce agreement. The land and buildings of Duston Sports Centre was prwded by Duston Parish Council, rent free, under an operating lease lo 2027. rhe land 8nd buildings of Cripps Recreation81 Centre was provKJed by Northampton General Hospital, rent free, under an operating lease lo 2025. The leases of these premises are not capilalised as the charity does not have control over any of the premises due to v8rious reslriclions in the leases. Improvements lo the sports cenlres are capil8lised and depreciated over the period of the lease. Page 36
UNrrY LEISURE IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 25. Related party transactlons The charitable CDmpany has a funding Égreemenl with Wesl Northamplonshire Borough Council lo provide leisure facilities within Northampton. Wesl Northamplonshire Borough Council is a member of the compèny. During the year the Trust m8de purchases from Wesl Northamplonshire Borough Council of £29.953 12020.. £7.8791 in relation to various Council provided services. As al 31 March 2021 included within creditors is an amount of £Nil 12020.. £Nill owing to the Council. Sales were made lo Wesl Northamptonshire Borough Council of £35,875 12020". £59,222). As al 31 March 2021 included wrthin tleblors is an amount of £1,10712020,' £1.1071 owed by the Council. In 2015116, Unity Leisure borrowed £300,000 from West Northamplonshife Borough Council. The amount is repayable wbthin 5 years. The Trust repaid £Nil (2020.. £60,0001 in the year leaving £30,000 {2020.' £30.0001 lo be repaid. This amount has been includad wlhin credrtors f811ing due within one year. During the year the Trust made purchases from Northampton General Hospital, a member of the Company, of £Nil 12020.. £42.3691 in relation lo ulilily recharges in respect of the Cripps RecrealFonal Cenlre. A5 al 31 March 2021 included wthin creditors is an amount of £Nil 12020. £Nill owing lo Northampton General Hospital. Sales were made to Northampton General Hospital of £Nil12020'. £7101. As at 31 March 2021 included within debtors is an amount of £Nil 12020. £Nill owed by Northampton General Hospital. During the year the Trust made sales lo Age UK Northamplonshire, a member of the Company, of £Nil 12020". £3.9101. As 8131 hrtarch 2021 included within debtors is an amount of £Nil12020.' £329) owed by Age UK Northamplonshire. During the year the Trust m8de purchases and sales with University of Northampton, a member of the Company, of £Nil 12020.. £1,482) and EN1 12020.. £8,288) respectively. As al 31 March 2021 included within debtors is an amount of £-14412020.' £Nill owed to University of Northampton. During the year the Trust made sales lo Northamplonshire Sport, a member of the Company. of £10,024 12020". £1.5171. As al 31 March 2021 included within debtors is an amount of £2.56712020'. £-271 owed to Northamplonshire Sport. As detailed in note 24 the land and premises used by the charity in the operation of sport5 centres are provided lo the charity by the following members., West Northamplon5hire Borough Council, Duslon Parish Council and Northampton General Hospital, under operating leases at no charge lo the charty. During the year purchases of £Nil 12020.. £1,513) were made from a company in which D Iles is a DirecloT. The appointment of this company was made after ensuring the charges levied represented good value for money. An amount of £Nil12020.' £Nill was owed al the year end. During the year purchases of £7.45012020." £7,900) were mode from a company in which A Riley is a Director. The appointment of this company was made after ensuring the charges levied represented good value for money. An amount of £Nil12020." £Nill was owed al the year end. Page 37