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|||||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|
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||||||||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)|
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|||||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)|
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||||||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|
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||||||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|||||||||
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|||||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||
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|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.|
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|||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|
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|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|
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|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.|||||||||
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|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|||
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|||||||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|||
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||||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|||
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|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|
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|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|
##
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##
|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|
##
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|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)|
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|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|||
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|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)|
##
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##
|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)|