**REGISTERED COMPANY NUMBER: 08119494 (England and Wales) REGISTERED CHARITY NUMBER: 1151326**
## **REPORT OF THE TRUSTEES AND**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **FOR**
## **BOLLINGTON HEALTH & LEISURE**
Heywood Shepherd Chartered Accountants
1 Park Street Macclesfield Cheshire SK11 6SR
**BOLLINGTON HEALTH & LEISURE**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Report of the Independent Auditors**|5|to|8|
|**Statement of Financial Activities**||9||
|**Balance Sheet**||10||
|**Cash Flow Statement**||11||
|**Notes to the Cash Flow Statement**||12||
|**Notes to the Financial Statements**|13|to|20|
|**Detailed Statement of Financial Activities**|21|to|22|
**BOLLINGTON HEALTH & LEISURE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023**
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 new consolidated edition introduced in January 2022).
This is a company limited by guarantee and its operations are to include the provision of facilities for sporting, health, leisure and social activities including teaching and recreation for swimming, squash, fitness and other sporting activities for the benefit of the residents of Bollington and the surrounding area.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charitable company are specifically restricted to the following: To construct, maintain and manage facilities for swimming, squash, fitness and other sporting, health, leisure and social activities (together with all incidental offices, outbuildings, open areas and access thereto) as provision for recreation and leisure-time occupation within the meaning of section 5 of the Charities Act 2011 and for the provision of such other facilities and services within the meaning of the said Act as the Charity may in its discretion hereafter determine for the benefit of the residents of Bollington and the surrounding area.
## **Historical review**
Bollington Leisure Centre was conceived in 1973 by Bollington Urban District Council as a community project. Fund raising began in January 1974, with the objective of building a swimming pool on UDC land designated for recreational use at Bollington Cross. With changes in local government, the land passed first to Macclesfield Borough Council and then to Cheshire East Borough Council. The Swimming Pool Committee evolved into a charity which was registered as Bollington Leisure Centre in July 1977. The Leisure Centre also continued to develop with the addition of squash, a gymnasium, a health studio and other activity rooms. The charity became a limited liability company in 2012 and was renamed Bollington Health & Leisure.
## **Land and the wider community**
The land leased to Bollington Health & Leisure (BHL) by Cheshire East (CEC) is less than 20% of the larger Bollington Cross site owned by CEC and designated for recreational use. In 2006, Bollington Town Council (BTC) formed a Bollington Cross Youth Project (BCYP) with local community and youth organisations, with a view to developing further facilities on the land adjacent to the Leisure Centre. The existing children's play area was refurbished as phase 1 in 2011, and provision was made for a phase 2 to start in 2013 to provide junior and senior football pitches and a phase 3 to start at the end of 2013 to provide further facilities including a MUGA (Multi-Use Games Area). In order to provide an improved layout of the football pitches, BCYP determined that the best plan would be to obtain an additional adjoining piece of land at a cost of £30,000. At this stage, BTC approached BHL which, as a registered charity with community sporting and leisure objectives, located on the adjacent site and incorporated as a legal entity, would be an ideal vehicle to own the additional land. Recognising the potential benefit to the local community and the fit with its charitable objectives, BHL, with a small donation from Bollington United Junior Football Club (BUJFC), purchased the land as a contribution to the BCYP project on 26 November 2014. BHL continued an active participation in BCYP and was able to source and sponsor the professional fund raising which enabled the football pitches to be created.
## **Leased Land**
In 2017, Bollington Town Council signed a 125 year lease for the entire CEC area of land at Bollington Cross, with the exception of the children's play area, but including the areas of land already leased to BHL and BUJFC. BCYP successfully met its objectives with the opening of a MUGA in July 2017 and three Junior football pitches in September 2019. There was an expectation in BTC that BHL would sign an underlease and manage the whole of this larger facility for the benefit of the community. However, concerns raised by BHL before the lease was signed were never resolved and CEC have steadfastly refused to make any change to the terms and conditions of the headlease. With the proposed underlease, there is a requirement for a Lease Deed of Covenant obliging adherence to all the terms and conditions of the headlease. Failure to negotiate any change, exacerbated by the business effects of COVID-19 and changes to the overall economic environment, have led the Trustees to conclude, with due diligence, that the charity cannot enter into the proposed underlease between BTC and BHL. Negotiations have continued spasmodically during the last six years, whereby the Trustees have sought to find ways to support BTC in the fulfilment of their lease with CEC and to contribute to the management, maintenance and repair of the wider facility at Broken Cross.
Page 1
**BOLLINGTON HEALTH & LEISURE**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023**
## **Operational Review for 2022-2023**
The last financial year has been a period of recovery from the significant effects of the COVID-19 pandemic in a period of high inflation. There have been no government grants and the sole grant received in the current year has been £1,000 from Bollington Town Council. This compares with £264,309 in 2021 and £63,843 (principally from Lottery Funding) in 2022. The principal sources of income have remained swimming lessons and gymnasium, with the numbers enrolled for swimming lessons recovering rather more quickly than gymnasium membership. The expenditure on projects continued to be carefully controlled at £45,687 compared with £41,171 in the previous year, but the balanced changed from principally development and upgrade projects to essential repairs. The handling of cash became a significant problem during the year with a succession of bank branch closures and withdrawal of cash handling facilities. A new local bank account was opened during the year to avoid the need for staff to carry large sums of money 18 miles to the centre of Manchester. The Centre Manager resigned towards the end of the year after a very successful tenure, to pursue a new career as a safety officer in private industry. The managerial responsibilities have been divided between a Business Manager and an Operations Manager, who both report to the Management Committee.
## **Public benefit**
Bollington Health & Leisure has always been totally devoted to operating for the public benefit, providing much needed sporting, health and fitness facilities for the people of Bollington and the surrounding areas. A major benefit is the provision of an extensive swimming teaching programme with nearly 1700 pupils engaged in lessons each week. The Centre also provides swimming and other facilities for thirteen local schools and for two groups with disabilities (Parkinson's Group and the Macclesfield & District Stroke Society). The charity has continued to maintain the additional land at Bollington Cross, apart from the football pitches, since the signing of the CEC-BTC lease.
## **STRATEGIC REPORT**
## **Reserves policy**
The company aims to maintain reserves equivalent to three to four months turnover. An extensive 5-year planned refurbishment programme, followed by the unexpected need to re-tile the swimming pool together with further restrictions imposed by the COVID-19 pandemic, led to net current assets at the end of the financial year 2020-2021 being reduced to £141k. By the end of the 2022-2023 financial year, net current assets had been restored to £304k equivalent to 28% or 3.4 months' "Income from Charitable Sources".
## **Future plans**
As the charity continues to recover from the difficult trading position of the last two or three years, with further restrictions on the disposable income of potential customers resulting from high energy costs and other economic conditions, the charity has set a conservative, virtually break-even budget, for 2023- 2024 with a modest increase in the planned expenditure on projects. This strategy proved successful in the previous financial year and, once again, priority will be given to core business interests whilst carefully controlling project expenditure. The long-term result of new gymnasia opening in the immediate area is yet to be determined, but early signs are that the potential adverse effect may not be as high as expected, due to the quality and service level of the BHL gymnasium and staff.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its Articles of Association, as amended and approved by the Charity Commission on 22 April 2013, and constitutes a company limited by guarantee as defined by the Companies Act 2006.
## **Induction and training of new trustees**
The charity will always aim to have an appropriate balance of skills and expertise on the Trustee Board, with knowledge of: appropriate health and leisure activities; business, including corporate governance, finance, health & safety and facilities management; and the local community. Prospective new Trustees will generally be invited to attend Directors' and Management Committee meetings for a period before appointment and must declare that they are not disqualified from becoming a director of a registered company or of a charitable institution; that they have not been barred by the Independent Safeguarding Authority from working with children and vulnerable adults; and must declare any potential conflicts of interest. All new Trustees are provided with the general guidance for Trustees issued by the Charities Commission to ensure that they are fully aware of their responsibilities, together with their responsibilities under company law. They are also familiarised with the Bollington Health & Leisure policies and procedures. Specific training is provided, as required, in areas such as Health & Safety and Safeguarding. However, no new Trustees have been appointed during the last financial year.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
08119494 (England and Wales)
Page 2
**BOLLINGTON HEALTH & LEISURE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023**
## **Registered Charity number**
1151326
## **Registered office**
Heath Road Bollington Macclesfield Cheshire SK10 5EX
## **Trustees**
P Drabble S L Hurst Dr J D King R A Mason Dr D A Maxwell Dr J A Murdoch S W Spinks C J Thompson P D Tunwell
## **Company Secretary**
Dr J A Murdoch
## **Auditors**
Heywood Shepherd Chartered Accountants 1 Park Street Macclesfield Cheshire SK11 6SR
## **Solicitors**
|SAS Daniels LLP|SAS Daniels LLP|Cooper Sons Hartley and Williams LLP|
|---|---|---|
|30 Greek Street||3-5 Market Street|
|Stockport||Disley|
|Cheshire||Stockport|
|||Cheshire|
|SK3 8AD||SK12 2AA|
## **COMMENCEMENT OF ACTIVITIES**
The charity was incorporated on 26 June 2012 and commenced trading on 1 July 2013 under the terms of a Business Transfer Agreement between Bollington Leisure Centre and Bollington Health & Leisure.
## **DECISION MAKING**
All decisions are taken in strict compliance with the Articles of Association and with the approved Policies of the charitable company. All decisions of the Board of Directors (trustees) and the reasons for those decisions are recorded in the Minutes of the Meetings of the Board of Directors.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Bollington Health & Leisure for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 3
**BOLLINGTON HEALTH & LEISURE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards 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 it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 13 November 2023 and signed on the board's behalf by:
Dr J A Murdoch - Secretary
Page 4
**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BOLLINGTON HEALTH & LEISURE**
## **Opinion**
We have audited the financial statements of Bollington Health & Leisure (the 'charitable company') for the year ended 30 June 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 30 June 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Page 5
**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BOLLINGTON HEALTH & LEISURE**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 6
**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BOLLINGTON HEALTH & LEISURE**
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Our approach to identifying and assessing the risks of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
* The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
*We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the charity sector;
* We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including Charities Act 2011, Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
* We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
*Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatements, including obtaining an understanding of how fraud might occur, by:
* Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
* Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
To address the risk of fraud through management bias and override controls, we:
* Performed analytical procedures to identify any unusual or expected relationships;
* Tested journal entries to identify unusual transactions;
* Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;
* Investigate the rationale behind significant or unusual transactions;
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
* agreeing financial statement disclosures to underlying supporting documentation;
* reading minutes of meetings of those charged with governance;
*enquiring of management as to actual potential litigation and claims;
*reviewing correspondence with HMRC, relevant regulators (include details) and the company's legal advisors;
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from errors as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 7
**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BOLLINGTON HEALTH & LEISURE**
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
N Kennington FCA (Senior Statutory Auditor) for and on behalf of Heywood Shepherd Chartered Accountants 1 Park Street Macclesfield Cheshire SK11 6SR
13 November 2023
Page 8
**BOLLINGTON HEALTH & LEISURE**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2023**
|**2023**
Unrestricted
Restricted
**Total**
funds
fund
**funds**
Notes
£
£
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**3,570**
**-**
**3,570**
**Charitable activities**
5
Leisure centre
**1,083,722**
**-**
**1,083,722**
Other trading activities
3
**2,634**
**-**
**2,634**
Investment income
4
**1,969**
**-**
**1,969**
**Total**
**1,091,895**
**-**
**1,091,895**
**EXPENDITURE ON**
Raising funds
6
**19,147**
**-**
**19,147**
**Charitable activities**
7
Leisure centre
**975,043**
**-**
**975,043**
Project costs
**45,687**
**-**
**45,687**
**Total**
**1,039,877**
**-**
**1,039,877**
**NET INCOME**
**52,018**
**-**
**52,018**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**252,122**
**-**
**252,122**
**TOTAL FUNDS CARRIED FORWARD**
**304,140**
**-**
**304,140**|2022
Total
funds
£
66,112
1,073,143
4,106
77|
|---|---|
||1,143,438|
||15,999
997,318
41,171|
||1,054,488|
||88,950
163,172|
||252,122|
The notes form part of these financial statements
Page 9
**BOLLINGTON HEALTH & LEISURE**
## **BALANCE SHEET 30 JUNE 2023**
|Unrestricted
Restricted
funds
fund
Notes
£
£
**FIXED ASSETS**
Tangible assets
13
**22,549**
**-**
**CURRENT ASSETS**
Stocks
14
**3,733**
**-**
Debtors
15
**33,153**
**-**
Cash at bank and in hand
**408,800**
**-**
**445,686**
**-**
**CREDITORS**
Amounts falling due within one year
16
**(164,095)**
**-**
**NET CURRENT ASSETS**
**281,591**
**-**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**304,140**
**-**
**NET ASSETS**
**304,140**
**-**
**FUNDS**
17
Unrestricted funds:
General fund
**TOTAL FUNDS**|**2023**
**Total**
**funds**
**£**
**22,549**
**3,733**
**33,153**
**408,800**
**445,686**
**(164,095)**
**281,591**
**304,140**
**304,140**
**304,140**
**304,140**|2022
Total
funds
£
22,549
2,450
29,046
354,139
385,635
(156,062)
229,573
252,122
252,122
252,122|
|---|---|---|
|||252,122|
The financial statements were approved by the Board of Trustees and authorised for issue on 13 November 2023 and were signed on its behalf by:
J A Murdoch - Trustee
The notes form part of these financial statements
Page 10
**BOLLINGTON HEALTH & LEISURE**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Interest received
Net cash provided by investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning of**
**the reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|**2023**
**£**
**52,692**
**52,692**
**1,969**
**1,969**
**54,661**
**354,139**
**408,800**|2022
£
128,143|
|---|---|---|
|||128,143|
|||77|
|||77|
||||
|||128,220
225,919|
|||354,139|
The notes form part of these financial statements
Page 11
**BOLLINGTON HEALTH & LEISURE**
**NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2023**
|**1.**
**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
**2023**
**£**
**Net income for the reporting period (as per the Statement of Financial Activities)**
**52,018**
**Adjustments for:**
Interest received
**(1,969)**
(Increase)/decrease in stocks
**(1,283)**
(Increase)/decrease in debtors
**(4,107)**
Increase in creditors
**8,033**
**Net cash provided by operations**
**52,692**
**2.**
**ANALYSIS OF CHANGES IN NET FUNDS**|2022
£
88,950
(77)
380
12,712
26,178|
|---|---|
||128,143|
|||
||At 1.7.22|Cash flow|**At 30.6.23**|
|---|---|---|---|
||£|**£**|**£**|
|**Net cash**||||
|Cash at bank and in hand|**354,139**|**54,661**|**408,800**|
||**354,139**|**54,661**|**408,800**|
|**Total**|**354,139**|**54,661**|**408,800**|
The notes form part of these financial statements
Page 12
**BOLLINGTON HEALTH & LEISURE**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure & liabilities**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Expenditure on land and buildings improvement and other tangible assets is written off in the year in which it occurs. The purchase cost of land is not depreciated.
The remaining tangible fixed assets have been fully depreciated (see note 15) .
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements (see note 15).
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Going concern**
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted future results are sufficient together with reserves to be able to continue as a going concern.
continued...
Page 13
**BOLLINGTON HEALTH & LEISURE**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023**
|**2.**
**DONATIONS AND LEGACIES**
Donations
Grants
Grants received, included in the above are as follows:
Job retention scheme grant
Bollington Town Council
Lottery Funding
English Table Tennis
**3.**
**OTHER TRADING ACTIVITIES**
Fundraising events
**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Leisure centre income
Leisure centre|||**2023**
**£**
**2,570**
**1,000**
**3,570**||2022
£
2,269
63,843
66,112|2022
£
2,269
63,843
66,112|
|---|---|---|---|---|---|---|
||||||||
||||||||
||||**2023**||2022||
||||**£**||£||
||||**-**||8,493||
||||**1,000**||1,000||
||||**-**||53,600||
||||**-**||750||
||||||||
||||||||
||||**1,000**||63,843||
||||||||
||**2023**
**£**
**2,634**
**2023**
**£**
**1,969**
**2023**
**£**
**1,083,722**|||2022
£
4,106
2022
£
77
2022
£
1,073,143|||
continued...
Page 14
**BOLLINGTON HEALTH & LEISURE**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023**
## **6. RAISING FUNDS**
## **Raising donations and legacies**
|Lottery prizes
**Other trading activities**
Purchases
Aggregate amounts|**2023**
**£**
**-**
**2023**
**£**
**19,147**
**19,147**|2022
£
975
2022
£
15,024|2022
£
975|
|---|---|---|---|
|||15,999||
## **7. PROJECT COSTS**
The project costs included in the Charitable Activities relate to costs incurred to enhance the facilities of the charity and comprise:
||**2023**|2022|
|---|---|---|
||**£**|£|
|Soft play area|**-**|13,730|
|Lighting upgrade|**-**|6,364|
|Atax field|**4,115**|5,872|
|Health spa repairs|**4,267**|-|
|Swimming pool repairs|**27,923**|-|
|Changing rooms refurbishment|**3,492**|-|
|Centre suite repairs|**4,890**|-|
|Cafe refurbishment|**1,000**|15,205|
||||
||**45,687**|41,171|
||||
## **8. SUPPORT COSTS**
Leisure centre
Governance costs £ **7,992**
Page 15
continued...
**BOLLINGTON HEALTH & LEISURE**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023**
## **8. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
## **Governance costs**
## **9.**
|**Governance costs**|||
|---|---|---|
||**2023**|2022|
||Leisure|Total|
||centre|activities|
||£|£|
|Auditors' remuneration|**5,600**|**5,800**|
|Accountancy and legal fees|**1,000**|**1,500**|
|Disclosure and Barring Service checks|**1,392**|**1,491**|
||**7,992**|**8,791**|
|**NET INCOME/(EXPENDITURE)**|||
|Net income/(expenditure) is stated after charging/(crediting):|||
||**2023**|2022|
||**£**|£|
|Auditors' remuneration|**5,600**|5,800|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 June 2023, nor for the year ended 30 June 2022.
## **11. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Management and administration
Instructors and support|**2023**
**£**
**462,700**
**18,098**
**7,289**
**488,087**
**2023**
**10**
**61**
**71**|2022
£
439,411
15,533
7,564|
|||462,508|
|||2022
9
61
70|
No employees received emoluments in excess of £60,000.
Total key management personnel remuneration benefits were £41,594 (£38,730 - 2022)
Page 16
continued...
**BOLLINGTON HEALTH & LEISURE**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023**
|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
66,112
**Charitable activities**
Leisure centre
1,073,143
Other trading activities
4,106
Investment income
77
**Total**
1,143,438
**EXPENDITURE ON**
Raising funds
15,999
**Charitable activities**
Leisure centre
997,318
Project costs
41,171
**Total**
1,054,488
**NET INCOME**
88,950
**RECONCILIATION OF FUNDS**
Total funds brought forward
163,172
**TOTAL FUNDS CARRIED FORWARD**
252,122
**13.**
**TANGIBLE FIXED ASSETS**
Freehold
Long
property
leasehold
£
£
**COST**
At 1 July 2022 and 30 June 2023
**22,549**
**80,476**
**DEPRECIATION**
At 1 July 2022 and 30 June 2023
**-**
**80,476**
**NET BOOK VALUE**
At 30 June 2023
**22,549**
**-**
At 30 June 2022
22,549
-|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
Fixtures
and
fittings
£
**11,142**
**11,142**
**-**
-|Total
funds
£
66,112
1,073,143
4,106
77|
|---|---|---|
|||1,143,438|
|||15,999
997,318
41,171|
|||1,054,488|
|||88,950
163,172|
|||252,122|
|||Totals
£
**114,167**
**91,618**
**22,549**
22,549|
continued...
Page 17
**BOLLINGTON HEALTH & LEISURE**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023**
## **13. TANGIBLE FIXED ASSETS - continued**
The land originally leased by Bollington Health & Leisure from Cheshire East Borough Council has been leased from Cheshire East Borough Council to Bollington Town Council who have therefore become Landlord to the Bollington Health & Leisure Lease with effect from 27 April 2017. Bollington Town Council have determined not to impose any ground rent for the Lease of Bollington Leisure Centre. The lease term is due to expire in 2033. The Leisure Centre constructed on this site comprises facilities for swimming, squash, fitness and other sporting, health and social activities. The building is owned by the charity. All the building costs have been fully depreciated as stated in note 1.
## **14. STOCKS**
|Stocks
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Deferred income
Accrued expenses
**17.**
**MOVEMENT IN FUNDS**|Stocks
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Deferred income
Accrued expenses
**17.**
**MOVEMENT IN FUNDS**|**2023**
**£**
**3,733**
**2023**
**£**
**8,794**
**4,978**
**19,381**
**33,153**
**2023**
**£**
**19,740**
**4,412**
**106,452**
**33,491**
**164,095**||2022
£
2,450
2022
£
8,402
46
20,598|2022
£
2,450|
|---|---|---|---|---|---|
|||||29,046||
|||||2022
£
10,290
3,894
94,946
46,932||
||||156,062|||
|||||||
||Net
movement
At 1.7.22
in funds
At 30.6.23
£
£
£
**Unrestricted funds**
General fund
**252,122**
**52,018**
**304,140**
**TOTAL FUNDS**
**252,122**
**52,018**
**304,140**|||||
||||**304,140**|||
|**MOVEMENT IN FUNDS**||||
|---|---|---|---|
|||Net||
|||movement||
||At 1.7.22|in funds|At 30.6.23|
||£|£|£|
|**Unrestricted funds**||||
|General fund|**252,122**|**52,018**|**304,140**|
|**TOTAL FUNDS**|**252,122**|**52,018**|**304,140**|
continued...
Page 18
**BOLLINGTON HEALTH & LEISURE**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023**
## **17. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
**1,091,895**
**TOTAL FUNDS**
**1,091,895**
**Comparatives for movement in funds**
At 1.7.21
£
**Unrestricted funds**
General fund
163,172
**TOTAL FUNDS**
163,172
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
1,143,438
**TOTAL FUNDS**
1,143,438
A current year 12 months and prior year 12 months combined position is as follows:
At 1.7.21
£
**Unrestricted funds**
General fund
163,172
**TOTAL FUNDS**
163,172|Resources
expended
£
**(1,039,877 )**
**(1,039,877 )**
Net
movement
in funds
£
88,950
88,950
Resources
expended
£
(1,054,488 )
(1,054,488 )
Net
movement
in funds
£
140,968
140,968|Movement
in funds
£
**52,018**|Movement
in funds
£
**52,018**|
|---|---|---|---|
|||**52,018**||
|||At 30.6.22
£
252,122
252,122
Movement
in funds
£
88,950||
|||88,950||
|||At 30.6.23
£
304,140
304,140||
||||304,140|
continued...
Page 19
**BOLLINGTON HEALTH & LEISURE**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023**
## **17. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
2,235,333
2,235,333|Resources
expended
£
(2,094,365 )
(2,094,365 )|Movement
in funds
£
140,968|
|---|---|---|---|
||||140,968|
## **18. RELATED PARTY DISCLOSURES**
Three members of the senior management team, each have close family members who are employees of the charity.
A trustee's business received £1,600 for sevices to the charity during the year.
There were no further related party transactions in the year.
## **19. LIABILITY OF MEMBERS**
The liability of the members is limited by guarantee.
Under clause 3 of the Articles of Association all members undertake to contribute to the assets of the Charitable Company such an amount as may be required, not exceeding £10, in the event of it being wound up during the period of membership or within one year after ceasing to be a member.
Page 20
**BOLLINGTON HEALTH & LEISURE**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
**Other trading activities**
Fundraising events
**Investment income**
Deposit account interest
**Charitable activities**
Leisure centre income
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Lottery prizes
**Other trading activities**
Purchases
**Charitable activities**
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Bank charges
Credit card charges
Travel expenses
Repairs and maintenance
Computer costs
Security costs
Legal and professional fees
Purchases
Project costs
Carried forward|2023
£
**2,570**
**1,000**
**3,570**
**2,634**
**1,969**
**1,083,722**
**1,091,895**
**-**
**19,147**
**462,700**
**18,098**
**7,289**
**11,820**
**16,757**
**77,229**
**1,554**
**3,489**
**3,823**
**12,369**
**77**
**9,849**
**282**
**42,633**
**25,685**
**6,031**
**2,589**
**240,986**
**45,687**
**988,947**|2022
£
2,269
63,843|
|---|---|---|
|||66,112
4,106
77
1,073,143|
|||1,143,438
975
15,024
439,411
15,533
7,564
9,625
13,429
67,181
1,614
2,842
2,166
6,601
6,201
7,813
178
56,779
23,054
5,040
2,614
299,874
41,171
1,008,690|
This page does not form part of the statutory financial statements
Page 21
**BOLLINGTON HEALTH & LEISURE**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023**
|**Charitable activities**
Brought forward
Instructors' fees
**Support costs**
**Governance costs**
Auditors' remuneration
Accountancy and legal fees
Disclosure and Barring Service checks
Total resources expended
**Net income**|2023
£
**988,947**
**23,791**
**1,012,738**
**5,600**
**1,000**
**1,392**
**7,992**
**1,039,877**
**52,018**|2022
£
1,008,690
21,008|
|---|---|---|
|||1,029,698
5,800
1,500
1,491|
|||8,791|
|||1,054,488|
|||88,950|
This page does not form part of the statutory financial statements
Page 22