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|||Page|
|---|---|---|
|Trustees report||1 —8|
|Statement of|Trustees responsibilities||
|Independent|auditoVs report|10-12|
|Statement of|financiat activifies|13-14|
|Consolidated|balance sheet||
|Company<br>balance sheet|||
|Consolidated|statement ofcash flows|17|
|Notes to the|financial statements|18-37|





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|||||Defined||||
|---|---|---|---|---|---|---|---|
|||||Benefit||||
|||||Pension||||
||||Unrestricted|Unrestricted|Restricted|Total|Total|
|||Notes|funds|Funds|funds|2023|2022|
|||||6|2|6|f.|
|Income from:||||||||
|Other trading adivities||||||||
|Commercial<br>trading|||445,485|||445,485|368,347|
|Donations<br>and grants|||44,899|||44,890|333,904|
|Value ofnet assets acquired<br>DST|in||(63,447)||2,132,492|2,0tfil,045||
|Charitable<br>activities||||||||
|Leisure income|||4,688,756|||4,688,756|3,196,757|
|Funding<br>income|||57,040|||57,040|73,440|
|Total income|||5.172,733||2,132,492|7,305,225|3,972,448|
|income from ATacfiMies|||5,236,160|||5,236,180|3,972,44|
|Value ofassets acquimd on|||(63,447)||2,132,492|2,069,045||
|nsoiidaiion||||||||
|Total income|||5,172,733||2,132,402|7,305,225|3,972,|
|Expenditure<br>from:||||||||
|Other expenditure<br>Commercial<br>trading||3|118,695|||118,$95|115,905|
|Charitable<br>activities||||||||
|Operation ofleisure snd<br>recreation sites||7|5,308,746|143,000|120,707|5,572,453|3,760,410|
|Total expenditure|||5,427,441|143,000|120,707|5,$91,148|3,876,315|
|Net expenditure<br>for the year/<br>Net incoming resources|||(254,706)|(143,000)|2,011,785|1,$14,070|96,133|
|efin coming/(outgoing)<br>soumes from A7activities|||(191,259)|(143,000)|(120,707)|(454,966)|96,13|
|Value ofassets acquired on|||(63,447)||2,132,402|2,069,045||
|consolidation||||||||
|Nef incomfngf(outgoing)|||(254,706)|(143,000)|2,011,785|1,614,079|96,13|
|Other recognised gains and||||||||
|Actuarial<br>(loss)/gain<br>on defined<br>benefit pension schemes||||1,065,000||1,OSS,OOO|724 o00|
|Net movement<br>In funds|||(254,706)|922,000|2,011,785|2,$79,079|820,133|





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|Fund|balances|at 1 April 2022|21|(602,637)|(900,000)||(1,502,637)|(2,322,770)|
|---|---|---|---|---|---|---|---|---|
|Fund <br>2023|balances|at 31 March|21|(857,343)|22,000|2,011,785|1,176,442|(1,502,637)|





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|||||||2023||2022|
|---|---|---|---|---|---|---|---|---|
|||||Notes|8|8|6||
|Fixed assets|||||||||
|Tangible assets||||||4,638,252||2,104,564|
|Current assets|||||||||
|Stocks||||13|22,718||11,987||
|Debtors||||14|355,237||114,681||
|Cash at bank and in hand|||||214,025||372,011||
||||||591,980||498,679||
|Creditors: amounts|falling due||within||||||
|one year||||17|(1,771,799)||(1,291,846)||
|Net cunent liabilities||||||(1,179,819)||(793,167)|
|Total assets less current||gabfiitles||||3,458,433||1,311,397|
|Creditors: amounts|falling due||after||||||
|more than one year||||18||(1,872,424)||(1,914,034)|
|Provision for liabilities||||20||(431,567)|||
|Net (liabifitles)/assets<br>pension<br>gabigty|excluding|||||1,154,442||(602,637)|
|Defined benefit pension<br>surplus/(deficlt)||||22||22,000||(900,000)|
|Net assets/(liabilities)||||||1,176,442||(1,502,637)|
|income funds|||||||||
|Unrestricted<br>funds:|||||||||
|General unrestricted||funds|||(1,128,604)||(602,637)||
|Pension reserve|||||22,000||(900,000)||
|Designated<br>fund|—revenue||reserve||208,500||||
|XCRepairs fund|||||62,761||||
|Restricted funds|||||2,011,785||||
|||||||1,176,442||(1,502,637)|
|||||||1,176,442||(1,502,637)|





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|||||2023|||2022||
|---|---|---|---|---|---|---|---|---|
||||Notes|5||5|||
|Fixed assets|||||||||
|Investments|||13||||||
|Current assets|||||||||
|Debtors|||15|190,752||248,752|||
|||||190,752||248,752|||
|Creditors: amounts||falling due within|||||||
|one year|||18||||||
|Net current assets|||||190,751|||248,751|
|Total assets|less current liabilities||||190,752|||248,752|
|Net assets|||||190,752|||248,752|
|Income funds|||||||||
|Unrestricted|funds||||190,752|||248,752|
||||||190,752|||248,752|





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||||||2023|2022||
|---|---|---|---|---|---|---|---|
|||||Notes|6|6||
|Cash flows from operating|||activities|||||
|Cash generated<br>from opsrakons||||28|2,536,175||670,985|
|Cash acquired<br>from DST||||30|312,885|||
|Interest paid|||||(64,138)||(93,464)|
|Net cash generated<br>by operating||||||||
|activities|||||2,784,922||577,521|
|Investing<br>activities||||||||
|Purchase oftangible fixed|assets||||(55,218)|(43,008)||
|Tangible fixed assets acquired from DST|||||(2,920,056)|||
|Net cash used in investing|||activities||(2,975,274)||(43,008)|
|Financing<br>activities||||||||
|Bank loans acquired<br>from|DST||||321,633|||
|Finance leases acquired<br>from|||DST||8,791|||
|Repayment<br>ofborrowings|||||(19,247)|(17,197)||
|Repayment<br>ofbank loans|||||(211,893)|(152,454)||
|Payment ofobligations<br>under|||finance leases||(66,918)|(72,937)||
|Net cash (used In)/generated<br>financing<br>acthrities|||from||32,366||(242,588)|
|Net (decrease)/increase<br>equivalents|in|cash and||cash|(157,986)||291,925|
|Cash and cash equivalents||at beginning||ofyear|372,011||80,086|
|Cash and cash equivalents|||stend ofyear||214,025||372,011|
|Relating to:||||||||
|Cash at bank and in hand|||||214,025||372,011|
|Bank overdrafts<br>induded|in|creditors||||||
|payabls<br>within one year||||||||





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|||||2023f|2022<br>E|
|---|---|---|---|---|---|
|Turnover|and other operating<br>income|||445,485|368,347|
|Cost ofsales and administration<br>costs||||(118,695)|(115,905)|
|Donations|to Group companies —eliminated|on|consolidation|(333,490)|(263,482)|
|Donations|from Group companies —eliminated||on consolidation|6,700|11,040|



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|||Leisure<br>aeavnles|Management<br>fees|Total<br>2023|Lolslllo<br>setlvmos|Managolllolit<br>fees|Tetst<br>2022|
|---|---|---|---|---|---|---|---|
|||2023|2023||2022|2022||
|||f|f|f|f|f|f|
|Charitable|activiTies|4,688,756|57,040|4,745,796|3,196,757|73,440|3,270,197|





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|Charitable<br>activities|||||||
|---|---|---|---|---|---|---|
||Direct Costs|Support<br>Costs|Total|Direct Costs|Support<br>Costs|Total|
||2023<br>f|2023<br>f|2023|2022f|2022f|2022f|
|Staff costs|2,211,758||2,211,758|1,329,913||1,329,913|
|Depreciation||441,585|441,585||262,552|262,552|
|Overheads|89,362|2,515,350|2,604,712|63,652|1,789,017|1,852,669|
|Lease Charges||1,966|1,966||1,574|1,574|
|Other Loan Intsmst||11,241|11,241||24,018|24,018|
|Bank Charges||50,931|50,931||68,207|68,207|
|Legal and Professional||49,933|49,933||4,750|4,750|
|Definsd Benefit Pension|||||||
|Costs||143,000|143,000||151,000|151,000|
|Consultancy||20,087|20,087||49,727|49,727|
|Governance costs|||||||
|Auditors<br>Remuneration||37,250|37,250||16,000|16,000|
||2,301,120|3.271,333|5,572,453|1,393,565|2,366,845|3,760,410|



## 



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|Number ofemployee|s||||
|---|---|---|---|---|
|The average<br>monthly|number ofemployees|during the year was:|||
||||2023|2022|
||||Number|Number|
|Leisure activities|||126|85|
|Employment<br>costs|||2023f|2022f|
|Wages and salaries|||2,014,545|1,203,475|
|Social security costs|||121,693|75,468|
|Other pension costs|||75,520|50,970|
||||2,211,758|1,329913|



|The number ofemployees|whose annual|remuneration|was f60,000or more were:|||
|---|---|---|---|---|---|
|||||2023|2022|
|||||Number|Number|
|f90,001 -f100,000||||1|1|





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|12|Fixed asset investments|Fixed asset investments|||
|---|---|---|---|---|
||Company||Shares|in|
||||group||
||||undertakings||
|||||8|
||Cost||||
||At 1 April|2022 and 31 March 2023|||
||Carrying|amount|||
||At 31 March 2023|||1|



## 

|Company||Registered offfce|Class|Shares held|Shares held|
|---|---|---|---|---|---|
||||||14|
|Subsidiary<br>Absolutely<br>Absolutely<br>Decorum|undertakings<br>Leisure<br>Together Trading<br> Sports Trust|a)<br>.a)<br>a)|Limited by guarantee<br>Ordinary<br>Limited by guarantee|Direct<br>100.00<br>100.00<br>100.00|Indirect|






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|Creditors: amounts|falling due within one y|ear|||||
|---|---|---|---|---|---|---|
|||||Group|Company||
||||2023|2022|2023|2022|
|||Notes|8|8|6|6|
|Bank loans and overdrafts||16|252,971|156,719|||
|Obligations<br>under finance leases||17|47,744|61,898|||
|Other borrowings||16|8,625|19,247|||
|Other taxation and social security|||81,360|25,784|||
|Accruals and Deferred income|||719,108|487,535|||
|Trade creditors|||569,313|444,340|||
|Amounts<br>owed to fefiow group undertakings|||||||
|Other creditors|||92,678|96,323|||
||||1,771,799|1,291,846|||
|Creditors: amounts|falling due after more than one year||||||
|||||Group|Company||
||||2023|2022|2023|2022|
|||Notes|6|6|6|6|
|Bank loans and overdrafts||16|1,615,71e|1,602,230|||
|Obligations<br>under finance leases||17|42,539|86,512|||
|Other borrowings||16||8,625|||
|Other creditors|||214,167|216,667|||
||||1,872,424|1,914,034|||



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|||||Group|Company||
|---|---|---|---|---|---|---|
||||2023|2022|2023|2022|
||||8|8|8|6|
|Balance|brought forward||206,972|136,800|||
|Amounts|released|to income|(206,972)|(136,800)|||
|Amounts|deferred|in the year|308,047|206,972|||
||||308,047|206,972|||





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## 

|Funds<br>Group||||||
|---|---|---|---|---|---|
||At 1 April<br>2022|Income|Expenditure|Transfer and<br>other gains|At 31fdarch<br>2023|
||8|||8|8|
|UNRESTRCITED FUNDS||||||
|General fund|(602,637)|3,548,472|(4,074,441)||(1,128,604)|
|Pension fund|(900,000)|1,353,000|(1,496,000)|1,065,000|22,000|
|R&R Fund(XC)||62,761|||62,761|
|Designated<br>fund —revenue||||||
|reserve||208,500|||208,500|
|RESTRICTED FUNDS||||||
|Restricted income fund||2,132,492|(120,707)||2,011,785|
|TOTAL FUNDS|(1,502,637)|7,305,225|(5,691,148)|1,065,000|1,176,442|
|Company|At 1 April<br>2022|Income|Expenditure|Transfer and<br>other gains|At 31glarch<br>2023|
|UNRESTRCITED FUNDS||||||
|General fund|248,752||(58,000)||190,752|
|TOTALFUNDS|248,752||(58,000)||190,752|





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|21|Funds (continued)||||||
|---|---|---|---|---|---|---|
||Group|At 1 April<br>2021|Income|Expenditure|Transfer and<br>other gains|At 31 March<br>2022|
||||||6||
||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<br>2021|Income|Expenditure|Transfer and<br>other gains|At 31 March<br>2022|
||UNRESTRCITED FUNDS||||||
||General fund|317,140||(68,388)||248,752|
||TOTAL FUNDS|317,140||(68,388)||248,752|



## 

|Key assumptio|ns|||||
|---|---|---|---|---|---|
|||||2023|2022|
||||||V»|
|Discount rate||||4.80|2.55|
|Expected rate|ofincrease ofpensions||in payment|2.90|3.05|
|Expected rate|ofsalary increases|||2.50|2.00|
|Mortality assumptions||||||
|The assumed|life expectations|on retirement st age 65are:||||



|The ass|umed<br>life expectations<br>on retirement st age 6|5are:||
|---|---|---|---|
|||2023|2022|
|||Years|Years|
|Retiring <br>-Males|today|21.1|21.3|
|-Females||23.9|24.0|
|Retiring|in 20years|||
|-Males||22.3|22.6|
|-Females||25.3|25.4|





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|Amounts<br>recognised<br>in the profit an|d lo|ss account:|||
|---|---|---|---|---|
||||2023f|2022f|
|Current service cost|||164,000|161,000|
|Net interest on defined benefit lisbfiity/(asset)|||23,000|30,000|
|Other costs and income|||1,000|1,000|
|Total costs|||188,000|192,000|
|Amounts<br>taken to other comprehensive||income:|||
||||2023<br>6|2022f|
|Actual return<br>on scheme assets|||165,000|(182,000)|
|Less: calculated<br>interest element|||39,000|27,000|
|Return on scheme assets excluding|interest income||204,000|(155,000)|
|Actuarial changes related to obligations|||(1,269,000)|(569,000)|



|The amounts<br>included<br>in ths balance sheet arising from obligabons|in respect of delined|benefit|plans are as|
|---|---|---|---|
|follows:||||
|||2023|2022|
|||6|6|
|Present value ofdefined benefit obligations|1,371,000||2,433,000|
|Fair value of plan assets|(1,393,000)||(1,533,000)|
|Deficit in scheme|(22,000)||900,000|
|Movements<br>in the present value ofdefined benefit obligations:||||
||||2023f|
|Liabilities at 1 April 2022|||2,433,000|
|Current service cost|||164,000|
|Benefits paid|||(50,000)|
|Contributions<br>from scheme members|||31,000|
|Actuarial<br>gains and losses|||(1,269,000)|
|Interest cost|||62,000|
|At 31 March 2023|||1,371,000|





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|Movements<br>in the fair value of pl|an assets:|||||
|---|---|---|---|---|---|
||||||2023f|
|Fair value ofassets at 1 April 2022|||||1,533,000|
|Interestincome|||||39,000|
|Return on plan assets (excluding|amounts|included|in net interest)||(204,000)|
|Benefits paid|||||(50,000)|
|Contributions<br>by the employer|||||45,000|
|Contributions<br>by scheme members|||||31,000|
|Other|||||(1,000)|
|At 31 March 2023|||||1,393,000|
|The fair value ofplan assets at the reporting||period|end was as follows:|||
|||||2023f|2022f|
|Equity instruments||||874,000|951,000|
|Debt instruments||||202,000|248,000|
|Property||||176,000|183,000|
|Cash||||21,000|32,000|
|Target ratio portfolio|||||5,000|
|Infrastructure||||192,000|188,000|
|Longevity<br>insurance||||(72,000)|(74,000)|
|||||1393000|1533000|



|Analysis ofnet assets between funds<br>Group||||||
|---|---|---|---|---|---|
|||Unrestricted|Restdcted|Total|Total|
|||funds|funds|||
|||2023<br>f|2023<br>f|2023f|2022<br>F|
|Fund balances at 31 March 2023are represented|by:|||||
|Tangible assets||2,626,467|2,011,785|4,638,252|2,104,564|
|Current assets/(liabilities)||(1,179,819)||(1,179,819)|(793,167)|
|Long term liabilities||(1,872,424)||(1,872,424)|(1,g14,034)|
|Provisions<br>and pensions||(409,567)||(409 567)|(900,000)|
|||(835,343)|2,011,785|1,176,442|(1,502,637)|





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|Analysis ofnet assets between funds (continu<br>Company|ed)|||
|---|---|---|---|
|||Unrestricted|Unrestricted|
|||funds|funds|
|||2023|2022|
|||f|6|
|Fund balances at 31 March 2023are represented|by:|||
|Investmsnts|||1|
|Current assets/(liabilities)||190,751|248,751|
|Long term liabilities||||
|Provisions and pensions||||
|||190,752|248,751|



## 

|||Group|Company||
|---|---|---|---|---|
||2023|2022|2023|2022|
||5|6|5|5|
|Within one year|536,982|511,242|||
|Between two and fiv years|2,061,698|2,302,914|||
|In over five years|117,991|350,710|||
||2,716,671|3,164,866|||



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|27|Financial<br>instruments|Financial<br>instruments|||||||
|---|---|---|---|---|---|---|---|---|
||The carrying<br>value ofthe Group's financial||||instruments|sre as follows:|||
||||||||2023|2022|
||||||||6|6|
||Financial assets||||||||
||Debt instruments<br>measured|||at amortissd|cost:||||
||-Trade debtors||||||7,752|862|
||-Other debtors||||||153,649||
||||||||161,401|862|
||Financial liabilities||||||||
||Measured<br>at amortissd||cost||||||
||-Bank loans and overdralts||||||1,868,689|1,758,949|
||-Trade creditors||||||569,313|444,340|
||-Finance leases||||||90,283|148,410|
||-Other creditors||||||92,678|96,323|
||||||||2,621,063|2,448,022|
|28|Cash generated<br>from||operations||||2023<br>8|2022<br>6|
||Surplus<br>for the year||||||2,679,079|820,133|
||Adjustmsnts<br>for:||||||||
||Depreciation<br>and impairment|||oftangible fixsd assets|||441,585|262,552|
||DifFerence between|pension||charge and cash contributions|||(922,000)|(573,000)|
||Provisions||||||431,567||
||Interest paid||||||64,138|93,464|
||Movements<br>in working||capital:||||||
||(Increase) in stocks||||||(10,731)|(5,747)|
||(Increase)IDecrease|in debtors|||||(533,443)|68,428|
||Increase in creditors||||||405,980|5,155|
||Cash generated<br>from||operations||||2,536,175|670,985|





## 

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## 

|Analysis of|chan|ges<br>In net (debt)||||||
|---|---|---|---|---|---|---|---|
||||At 1April 2322|Cosh Bows|Business<br>oomhlnslloo|Nsw loons|Al31Mwoh<br>2S23|
||||||6|6|6|
|Cash at bank and||in hand|372,011|(470,871)|312,885||214,025|
||||372,011|(470,871)|312,885||214,025|
|Loans falling|due|within ons year|(175,966)|27,122|(321,633)||(470,477)|
|Loans falling|due|aRsr more than one year|(1,610,855)|204,018|||(1,406,837)|
|Obligations|under|finance leases|(148,410)|66,918|(8,791)||(90,283)|
||||(1,563,220)|(172,813)|(17,539)||(1,753,572)|



## 

|The net asset acquired as at 01 October 2022 are as follows:|||
|---|---|---|
||2023|2022|
||6|6|
|Fixed assets|||
|Tangible assets|2,920,056||
|Current assets|||
|Stock|10,767||
|Other debtors|137,000||
|Prepayments<br>and accrued income|128,523||
|Cash at bank and in hand|312,885||
|Creditors: amount fsging due within one year|||
|Bank loans and overdrags|(112,752)||
|Obligations<br>under finance leases|(8,791)||
|Other taxation and social security|(43,365)||
|Accruals and Deferred income|(344,816)||
|Trade creditors|(172,812)||
|Other creditors|(24,003)||
|Creditors: amount falling due after more than one year|||
|Bank loans and overdralts|(208,880)||
|Other creditors|(56,250)||
|Provisions for liabilities|(468,517)||
||2,069,045||