| Page | ||||
|---|---|---|---|---|
| Trustees | report | 1 —7 | ||
| Statement | of | Trustees | responsibilities | |
| Independent | auditor's | report | 9 —11 | |
| Statement | of | financial | activities | 12 |
| Consolidated | balance | sheet | 13 | |
| Company | balance sheet | 14 | ||
| Consolidated | statement ofcash flows |
15 | ||
| Notes to | the | financial | statements | 16-35 |
| Defined | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Benefit | |||||||||
| Pension | |||||||||
| Unrestricted | Unrestricted | Total | Total | ||||||
| Notes | funds E |
Funds F |
2022f | 2021 | |||||
| Income from: | |||||||||
| Investments | |||||||||
| Other trading activities |
|||||||||
| Commercial trading |
operations | 368,347 | 368,347 | 43,523 | |||||
| Donations and grants |
333,904 | 333,904 | 890,845 | ||||||
| Charitable activities |
|||||||||
| Leisure income | 3,196,757 | 3,196,757 | 882,805 | ||||||
| Funding income |
73,440 | 73,440 | 73,440 | ||||||
| Total income | 3,972,448 | 3,972,448 | 1,890,613 | ||||||
| Expenditure from: |
|||||||||
| Other expenditure | |||||||||
| Commercial trading |
operations | 115,905 | 115,905 | 38,861 | |||||
| Charitable activities |
|||||||||
| Operation of leisure |
and recreation | ||||||||
| sites | 3,609,410 | 151,000 | 3,760,410 | ||||||
| Total expenditure | 3,725,315 | 151,000 | 3,876,315 | 2,916,376 | |||||
| Net expenditure for |
the year/ | ||||||||
| Net outgoing resources | 247,133 | (151,000) | 96,133 | (1,025,763) | |||||
| Other recognised | gains and | losses | |||||||
| Actuarial (loss)/gain pension schemes |
on | defined | benefit | 724,000 | 724,000 | (79»000) | |||
| Net movement in funds |
247,133 | 573,000 | 820,133 | (1,817,763) | |||||
| Fund balances at 1 | April 2021 | 21 | (849,770) | (1,473,000) | (2,322,770) | (505,007) | |||
| Fund balances at | 31 March 2022 | 21 | (602,637) | (900,000) | (1,502,637) | (2,322,770) |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | R | ||||
| Fixed assets | |||||
| Tangible assets | 12 | 2,104,564 | 2,324,108 | ||
| Current assets | |||||
| Stocks | 14 | 11,987 | 6,240 | ||
| Debtors | 15 | 114,681 | 183,107 | ||
| Cash at bank and in | hand | 372,011 | 80,086 | ||
| 498,679 | 269,433 | ||||
| Creditors: amounts | falling due within | ||||
| one year | 18 | (1,291,846) | (2,528,372) | ||
| Net current liabilities |
(793,167) | (2,258,939) | |||
| Total assets less current | liabilities | 1,311,397 | 65,169 | ||
| Creditors: amounts | falling due after | ||||
| more than one year | 19 | (1,914,034) | (914,939) | ||
| Net (liabilities)/assets | excluding | ||||
| pension liability |
(602,637) | (849,770) | |||
| Defined benefit pension | liability | 22 | (900,000) | (1,473,000) | |
| Net liabilities | (1,502,637) | (2,322,770) | |||
| Income funds | |||||
| Unrestricted funds: |
|||||
| General unrestricted | funds | (602,637) | (849,770) | ||
| Pension reserve | (900,000) | (1,473,000) | |||
| (1,502,637) | (2,322,770) | ||||
| (1,502,637) | (2,322,770) |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | ||||||||
| Fixed assets | ||||||||
| Investments | 13 | |||||||
| Current assets | ||||||||
| Debtors | 15 | 248,752 | 323,410 | |||||
| Cash at bank | and in | hand | 37 | |||||
| 248,752 | 323,447 | |||||||
| Creditors: amounts | falling due within | |||||||
| one year | 18 | (6,308) | ||||||
| Net current assets | 248,751 | 317,139 | ||||||
| Total assets | less current liabilities | 248,752 | 317,140 | |||||
| Creditors: amounts | falling due after | |||||||
| more than one year | 19 | |||||||
| Net assets | 248,752 | 317,140 | ||||||
| Income funds | ||||||||
| Unrestricted | funds | 248,752 | 317,140 | |||||
| 248,752 | 317,140 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | K | |||||||
| Cash flows from operating | activities | |||||||
| Cash generated from operations |
29 | 670,985 | (265,262) | |||||
| Interest paid | (93,464) | (71,548) | ||||||
| Net cash generated by operating |
||||||||
| activities | 577,521 | (336,810) | ||||||
| Investing activities |
||||||||
| Purchase oftangible fixed assets | (43,008) | (2,549) | ||||||
| Net cash used in investing | activities | (43,008) | (2,549) | |||||
| Financing activities | ||||||||
| New bank loans | 570,000 | |||||||
| Repayment ofborrowings |
(17,197) | (15,145) | ||||||
| Repayment ofbank loans |
(152,454) | (37,001) | ||||||
| Payment ofobligations under |
finance leases | (72,937) | (50,838) | |||||
| Net cash (used ln)/generated | from | |||||||
| financing activities |
(242,588) | 467,016 | ||||||
| Net Increase In cash and cash equivalents | ||||||||
| 291,925 | 127,657 | |||||||
| Cash and cash equivalents | at beginning | ofyear | 80,086 | (47,571) | ||||
| Cash and cash equivalents | at | end of | year | 372,011 | 80,086 | |||
| Relating to: | ||||||||
| Cash at bank and in hand | 372,011 | 80,086 | ||||||
| Bank overdrafts included in |
creditors | |||||||
| payable within one year |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Turnover | and other operating income |
368,347 | 43,523 | ||
| Cost ofsales and administration costs |
(115,905) | (38,861) | |||
| Donations | to Group companies —eliminated | on | consolidation | (263,482) | (4,662) |
| Donations | from Group companies —eliminated | on consolidation | 11,040 |
| Investment | Income | |||
|---|---|---|---|---|
| 2022f | 2021f | |||
| Deposit account interest | ||||
| The income | from investments | offNil (2021:fNil) was all unrestricted. | ||
| Donations | ||||
| 2022f | 2021f | |||
| Other donations | 19,728 | 19,861 | ||
| Government | grants | 314,176 | 870,984 | |
| 333904 | 890848 |
| Deposit account interest | |
|---|---|
| The income from investments | offNil (2021:fNil) was all unrestricted. |
| Leisure | Management | Total | Leisure | Management | Total | ||
|---|---|---|---|---|---|---|---|
| activities | fees | 2022 | activities | fees | 2021 | ||
| 2022 | 2022 | 2021 | 2021 | ||||
| Charitable | activities | 3,196,757 | 73,440 | 3,270,197 | 882,805 | 73,440 | 956,245 |
| Direct Costs | Support | Total | Direct Costs | Support | Total | |
|---|---|---|---|---|---|---|
| Costs | Costs | |||||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |
| R | R | R | ||||
| Staff costs | 1,329,913 | 1,329,913 | 1,133,868 | 1,133,868 | ||
| Depreciation | 262,552 | 262,552 | 341,285 | 341,285 | ||
| Overheads | 63,652 | 1,789,017 | 1,852,669 | 52,073 | 1,171,751 | 1,223,824 |
| Lease Charges | 1,574 | 1,574 | 11,544 | 11,544 | ||
| Other Loan Interest | 24,018 | 24,018 | 4,700 | 4,700 | ||
| Bank Charges | 68,207 | 68,207 | 55,746 | 55,746 | ||
| Legal and Professional | 4,750 | 4,750 | ||||
| Premises Expenses | ||||||
| Defined Benefit Pension | ||||||
| Costs | 151,000 | 151,000 | 57,000 | 57,000 | ||
| Consultancy | 49,727 | 49,727 | 36,723 | 36,723 | ||
| Governance costs | ||||||
| Auditors Remuneration |
16,000 | 16,000 | 12,825 | 12,825 | ||
| 1,393,565 | 2,366,845 | 3,760,410 | 1,185,941 | 1,691,574 | 2,877,515 |
| The average monthly number ofemployees during t |
he year was: | |
|---|---|---|
| 2022 | 2021 | |
| Number | Number | |
| Leisure activities | 85 | 89 |
| Employment costs |
2022f | 2021 |
| Wages and salaries | 1,203,475 | 1,018,277 |
| Social security costs | 75,468 | 58,879 |
| Other pension costs | 50,970 | 56,712 |
| 1,329,913 | 1,133,868 |
| 2022 | 2021 | ||
|---|---|---|---|
| Number | Number | ||
| F90,001 | - K100,000 | 1 | 1 |
| 12 | Tangible fixed assets | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | ||||||||||||
| Leasehold | Improvements | Plant and | Total | |||||||||
| property | to property f |
machinery f |
||||||||||
| Cost | ||||||||||||
| At 1 April 2021 | 1,832,270 | 603,782 | 2,834,911 | 5,270,963 | ||||||||
| Additions | 43,008 | 43,008 | ||||||||||
| At 31 March 2022 | 1,832,270 | 603,782 | 2,877,919 | 5,313,971 | ||||||||
| Depreciation and impairment |
||||||||||||
| At 1 April 2021 | 183,227 | 603,782 | 2,159,846 | 2,946,855 | ||||||||
| Depreciation charged |
in the year | 73,291 | 189,261 | 262,552 | ||||||||
| At 31 March 2022 | 256,518 | 603,782 | 2,349,107 | 3,209,407 | ||||||||
| Carrying amount |
||||||||||||
| At 31 March 2022 | 1,575,752 | 528,812 | 2,104,564 | |||||||||
| At 31 March 2021 | 1,649,043 | 675,065 | 2,324,108 | |||||||||
| The net carrying value leases or hire purchase |
oftangible contracts. |
fixed assets includes the following in respect ofassets held under finance The depreciation charge in respect of such assets amounted to f62,154 |
||||||||||
| (2021:277,922)for the | year. | |||||||||||
| 2022 | 2021f | |||||||||||
| Plant and machinery | 113,666 | 175,820 | ||||||||||
| Company | ||||||||||||
| There are no tangible | fixed assets | held by the company. |
| Bank overdrafts |
|---|
| Bank loans |
| Other loans |
| Payable within one year |
| Payable after one year |
| Group | Company | ||
|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 |
| R | R | ||
| 1,758,949 | 1,911,402 | ||
| 27,872 | 45,069 | ||
| 1,786,821 | 1,956,471 | ||
| 175,966 | 1,436,609 | ||
| 1,610,855 | 519,862 |
| Group | Company | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||||||
| f. | f | ||||||||
| Within | one | year | 61,898 | 72,936 | |||||
| Within | two | and | five | years | 86,512 | 148,409 | |||
| 148,410 | 221,345 |
| Group | Company | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||
| Notes | R | ||||
| Bank loans and overdrafts | 16 | 156,719 | 1,419,413 | ||
| Obligations under finance leases |
17 | 61,898 | 72,936 | ||
| Other borrowings | 16 | 19,247 | 17,196 | ||
| Other taxation and social security | 25,784 | 33,519 | |||
| Accruals and Deferred income | 487,535 | 365,489 | 2,000 | ||
| Trade creditors | 444,340 | 526,635 | |||
| Amounts owed to fellow group undertakings |
1 | ||||
| Other creditors | 96,323 | 93,184 | 4,307 | ||
| 1,291,846 | 2,528,372 | 6,308 |
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||||
| Notes | f. | f. | f | ||||
| Bank loans | and overdrafts | 16 | 1,602,230 | 491,989 | |||
| Obligations | under finance leases | 17 | 86,512 | 148,410 | |||
| Other borrowings | 16 | 8,625 | 27,873 | ||||
| Other creditors | 216,667 | 246,667 | |||||
| 1,914,034 | 914,939 |
| Group | Company | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||
| f. | ||||||
| Balance | brought | forward | 136,800 | 103,035 | ||
| Amounts | released to income | (136,800) | (103,035) | |||
| Amounts | deferred | in the year | 206,972 | 136,800 | ||
| 206,972 | 136,800 |
| Funds Group |
|||||
|---|---|---|---|---|---|
| At 1 April | Income | Expenditure | Transfer and | At 31 March | |
| 2021 | other gains | 2022 | |||
| R | |||||
| UNRESTRCITED FUNDS | |||||
| General fund | (849,770) | 3,169,408 | (2,922,275) | (602,637) | |
| Pension fund | (1,473,000) | 792,000 | (943,000) | 724,000 | (900,000) |
| TOTAL FUNDS | (2,322,770) | 3,961,408 | (3,865,275) | 724,000 | (1,502,637) |
| Company | |||||
| At 1 April | Income | Expenditure | Transfer and | At 31 March | |
| 2021 | other gains | 2022 | |||
| f | R | ||||
| UNRESTRCITED FUNDS | |||||
| General fund | 317,140 | (68,388) | 248,752 | ||
| TOTAL FUNDS | 317,140 | (68,388) | 248,752 | ||
| Group | |||||
| At 1April | Income | Expenditure | Transfer and | At 31 March | |
| 2020 | other gains | 2021 | |||
| f | R | ||||
| UNRESTRCITED FUNDS | |||||
| General fund | 118,993 | 1,701,613 | (2,670,376) | (849,770) | |
| Pension fund | (624,000) | 189,000 | (246,000) | (792,000) | (1,473,000) |
| TOTAL FUNDS | (505,007) | 1,890,613 | (2,916,376) | (792,000) | (2,322,770) |
| Company | |||||
| At 1April | Income | Expenditure | Transfer and | At 31 March | |
| 2020 | other gains | 2021 | |||
| R | R | R | |||
| UNRESTRCITED FUNDS | |||||
| General fund | 317,583 | (443) | 317,140 | ||
| TOTAL FUNDS | 317,583 | (443) | 317,140 |
| The pension contributions and liability Charity. Defined benefit schemes Key assumptions |
is all allocated from unrestricted | funds which is the only fund b | asis ofthe |
|---|---|---|---|
| 2022 | 2021 | ||
| 4/o | 4/o | ||
| Discount rate | 2.55 | 2.05 | |
| Expected rate ofincrease ofpensions | in payment | 3.05 | 2.80 |
| Expected rate ofsalary increases | 2.00 | 3.80 |
| The ass | umed life expectations on retirement at age 6 |
5are: | |
|---|---|---|---|
| 2022 | 2021 | ||
| Years | Years | ||
| Retiring | today | ||
| - Males | 21.3 | 21.2 | |
| - Females | 24.0 | 23.9 | |
| Retiring | in 20years | ||
| - Males | 22.6 | 22.5 | |
| -Females | 25.4 | 25.4 |
| Amounts recognised in |
t | he profit and | lo | ss a | ccount: | |||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| R | ||||||||
| Current service cost | 161,000 | 91,000 | ||||||
| Net interest on defined | benefit liability/(asset) | 30,000 | 14,000 | |||||
| Other costs and income | 1,000 | 1,000 | ||||||
| Total costs | 192,000 | 106,000 | ||||||
| Amounts taken to other |
comprehensive | income: | ||||||
| 2022 | 2021 | |||||||
| Actual return on scheme | assets | (182,000) | (140,000) | |||||
| Less: calculated interest |
element | 27,000 | 26,000 | |||||
| Return on scheme assets excluding |
interest | income | (155,000) | (114,000) | ||||
| Actuarial changes related |
to obligations | (569,000) | 906,000 | |||||
| The amounts included in |
the balance | sheet | arising from obligations | in respect of defined | benefit | plans are as | ||
| follows: | ||||||||
| 2022 | 2021 | |||||||
| R | ||||||||
| Present value ofdefined | benefit obligations | 2,433,000 | 2,760,000 | |||||
| Fair value of plan assets | (1,533,000) | (1,287,000) | ||||||
| Deficit in scheme | 900,000 | 1,473,000 | ||||||
| Movements in the present |
value ofdefined | benefit obligations: | ||||||
| 2022 | ||||||||
| R | ||||||||
| I iabilities at 1 April 2021 | 2,760,000 | |||||||
| Current service cost | 161,000 | |||||||
| Contributions from scheme members |
24,000 | |||||||
| Actuarial gains and losses |
(569,000) | |||||||
| Interest cost | 57,000 | |||||||
| At 31 March 2022 | 2,433,000 |
| Movements in the fair value of pl |
an assets: | ||||
|---|---|---|---|---|---|
| 2022f | |||||
| Fair value ofassets at 1 April 2021 | 1,287,000 | ||||
| Interest income | 27,000 | ||||
| Return on plan assets (exduding |
amounts | included | in net interest) | 155,000 | |
| Contributions by the employer |
41,000 | ||||
| Contributions by scheme members |
24,000 | ||||
| Other | (1,000) | ||||
| At 31 March 2022 | 1,533,000 | ||||
| The fair value of plan assets at the reporting | period | end was as follows: | |||
| 2022 | 2021 | ||||
| Equity instruments | 951,000 | 771,000 | |||
| Debt instruments | 248,000 | 210,000 | |||
| Property | 183,000 | 159,000 | |||
| Cash | 32,000 | 59,000 | |||
| Target ratio portfolio | 5,000 | 53,000 | |||
| Infrastructure | 188,000 | 105,000 | |||
| Longevity insurance |
(74,000) | (70,000) | |||
| 1,533,000 | 1,287,000 |
| Analysis ofnet assets between funds Group |
|||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| Fund balances at 31 March 2022 are represented | by: | ||
| Tangible assets | 2,104,564 | 2,324,108 | |
| Current assets/(liabilities) | (793,167) | (2,258,939) | |
| Long term liabilities | (1,914,034) | (914,939) | |
| Provisions and pensions |
(900,000) | (1,473,000) | |
| (1,502,637) | (2,322,770) |
| Analysis o Company |
fnet assets between funds (continu | ed) | ||
|---|---|---|---|---|
| Unrestricted | Unrestricted | |||
| funds | funds | |||
| 2022 | 2021 | |||
| f | f | |||
| Fund balances at 31 March 2022 are represented | by: | |||
| Investments | 1 | 1 | ||
| Current assets/(liabilities) | 248,751 | 317,139 | ||
| Long term | liabilities | |||
| Provisions | and pensions | |||
| 248,752 | 317,140 |
| Group | Company | |||
|---|---|---|---|---|
| 2022 f |
2021 f |
2022 | 2021f | |
| Within one year | 511,242 | 557,211 | ||
| Between two and five years | 2,302,914 | 2,246,022 | ||
| In over five years | 350,710 | 711,790 | ||
| 3,164,866 | 3,515,023 |
| The carrying valu |
e | oft | he Gro | up's financial instruments are as follows: |
|||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Financial assets | |||||||
| Debt instruments | measured | at amortised cost: | |||||
| -Trade debtors | 862 | 15,361 | |||||
| -Other debtors | 45,506 | ||||||
| 862 | 60,867 | ||||||
| Financial liabilities | |||||||
| Measured at amortised |
cost | ||||||
| -Bank loans and | overdrafts | 1,758,949 | 1,911,402 | ||||
| -Trade creditors | 444,340 | 526,635 | |||||
| -Finance leases | 148,410 | 221,346 | |||||
| -Other creditors | 96,323 | 93,184 | |||||
| 2,448,022 | 2,752,567 | ||||||
| Cash generated | from | operations | 2022 | 2021 | |||
| Surplus/(Deficit) | for | the | year | 820,133 | (1,817,763) | ||
| Adjustments for: |
|||||||
| Depreciation and |
impairment | oftangible fixed assets | 262,552 | 341,285 | |||
| Difference between | pension | charge and cash contributions | (573,000) | 849,000 | |||
| Interest paid | 93,464 | 71,548 | |||||
| Movements in working |
capital: | ||||||
| (Increase)/Decrease | in | stocks | (5,747) | 8,931 | |||
| Decrease/increase | in debtors | 68,428 | (72,758) | ||||
| Increase in creditors |
5,155 | 354,495 | |||||
| Cash generated | from | operations | 670,985 | (265,262) |
| 30 | Analysis ofchanges in net (debt) |
Analysis ofchanges in net (debt) |
|||||
|---|---|---|---|---|---|---|---|
| At 1 April 2021 | Cash flows | New financ | Other | At 31 March | |||
| leases | movements | 2022 | |||||
| Cash at bank and in hand | 80,049 | 291,962 | 372,011 | ||||
| 80,049 | 291,962 | 372,011 | |||||
| Loans falling | due within one year | (1,436,609) | 1,260,643 | (175,966) | |||
| Loans falling | due after more than one year | (519,862) | (1,090,993) | (1,610,855) | |||
| Obligations | under finance leases | (221,346) | 72,936 | (148,410) | |||
| (2,097,768) | 534,548 | (1,563,220) |