## ||||Page|| |---|---|---|---|---| |Report ofthe Trustees||1|to16|| |Report ofthe Independent
Auditors||17|to|20| |Statement of Financial|Activities||21|| |Balance Sheet|||22|| |Cash Flow Statement|||23|| |Notes to the Cash Flow Statement|||24|| |Notes to the Financial|Statements|25|to|42| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||31.3.23|31.3.22| |---|---|---|---|---|---|---| |||Unrestricted|FRS102|Restricted|Total|Total| |||funds|Pension|funds|funds|funds| ||Notes|f|f|f|f|f| |INCOME AND ENDOWMENTS||||||| |FROM||||||| |Donations
and legacies|2|||||219,280| |Charitable
activities||||||| |Operation
of leisure/golf||||||| |centres/country
park||9,682,283||7,946|9,690,229|7,223,956| |Investment
income|3|9,785|||9,785|1,159| |Total||9,692 068||7,946|9,700,014|7,444,395| |EXPENDITURE ON||||||| |Charitable
activities||||||| |Operation
of leisure/golf||||||| |centres/country
park||9,846,707|135,000|30,488|10,012,195|7,214,819| |NET INCOME/(EXPENDITURE)||(154,639)|(135,000)|(22,542)|(312,181)|229,576| |Other recognised||||||| |gains/(losses)||||||| |Actuarial
gains on defined||||||| |benefit schemes|||1,761,000||1,761,000|316,000| |Net movement
in funds||(154,639)|1,626,000|(22,542)|1,448,819|545,576| |RECONCILIATION
OF FUNDS||||||| |Total funds brought
forward||1,339,654|(1,577,000)|31,784|(205,562)|(751,138)| |TOTAL FUNDS CARRIED
FORWARD||1,185,015|49,000|9,242|1,243257|~205,562| ## ||||BALANCE|BALANCE|SHEET|||| |---|---|---|---|---|---|---|---|---| ||||31 MARCH||2023|||| ||||||||31.3.23|31.3.22| ||||Unrestricted|FR6102||Restricted|Total|Total| ||||funds|Pension||funds|funds|funds| |||Notes|6||6|6|6|6| |FIXEDASSETS||||||||| |Tangible assets||11|863,351||||863,351|895,501| |CURRENT ASSETS||||||||| |Stocks||12|98,238||||98,238|80,757| |Debtors||13|271,274||||271,274|405,089| |Investments
Cash at bank and|In hand|14|252,783
1,052,694|||~9242|252,783
1,061,936|2,579
1,242 640| ||||1,674,989|||9,242|1,684,231|1,731,065| |CREDITORS||||||||| |Amounts
falling due within one||||||||| |year||15|(1,353,325)||||(1,353,325)|(1,255,128)| |NET CURRENT ASSETS|||321,664|||9,242|330,906|475,937| |TOTAL ASSETS|LESS|||||||| |CURRENT LIABILITIES|||1,185,015|||9,242|1,194,257|1,371,438| |PENSION ASSET/(LIABILITY)||18||49,000|||49,000|(1,577,000)| |NET ASSETS/(LIABILITIES)|||1,185,015|49,000||9,242|1,243,257|205,562)| |FUNDS||17||||||| |Unrestricted
funds|||||||1,234,015|(237,346)| |Restricted funds|||||||9,242|31,784| |TOTAL FUNDS|||||||1,243,257|~205,562)| |||CASH FLOW|STATEMENT||| |---|---|---|---|---|---| ||FOR THE YEAR ENDED 31 MARCH|||2023|| |||||31.3.23|31.3.22| |||Notes|||f| |Cash flows from operating
activities
Cash generated
from operations||||132,714|780,369| |Net cash provided
by operating
activities||||132,714|780,369| |Cash flows from Investing|activities||||| |Purchase oftangible
fixed assets||||(72,999)|(36,902)| |Sale oftangible
fixed assets|||||10,480| |95day deposit account investment
Interest received||||(250,204)
9,785|(2)
1,159| |Net cash used
in investing
activities|||~313,418)||~25,265)| |Change
in cash and cash
the reporting
period|equivalents|In||(180,704)|755,104| |Cash and cash equivalents
beginning
ofthe reporting|at the
period||1,242,640||487,536| |Cash and cash equivalents|at the end|of|||| |the reporting
period|||1,061,936||1,242,640| ## ## |ACTIVITIES|||||||| |---|---|---|---|---|---|---|---| |||||||31.3.23|31.3.22| |||||||f|8| |Net (expenditure)/income|||for the reporting|period (as per the|||| |Statement of Financial||Activities)||||(312,181)|229,576| |Adjustments
for:|||||||| |Depreciation
charges||||||105,149|111,726| |Interest received
Increase
in stocks||||||(9,785)
(17,481)|(1,159)
(15,158)| |Decrease/(increase)|in debtors|||||133,815|(108,621)| |Increase
in creditors||||||98,197|377,005| |Difference between|pension||charge and cash|contributions||135,000|187,000| |Net cash provided|by operations|||||132714|780369| |ANALYSIS OF CHANGES|||IN NET FUNDS||||| ||||||AI1.4.22|Cash flow|At 31,3.23| ||||||8|8|8| |Net cash|||||||| |Cash at bank and in|hand||||1,242,640|~180,704|1,061,936| ||||||1,242,640|~160,204|1.061,936| |Liquid resources|||||||| |Deposits
included
in|cash||||||| |Current asset investments|||||2,579|250,204|252,783| ||||||2,579|250,204|252,783| |Total|||||1,245,219|69,500|1,314,719| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||||||||31.3.23|31.3.22| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||Activity|||||f|f| ||||||||Operation||of leisure/golf|centres/country|park||| ||Leisure centre income|||||||||||9,682,283|6,987,859| ||||||||Operation||ofleisure/golf|centres/country|park||| ||Insurance||claim||||||||||7,363| ||||||||Operation||ofleisure/golf|centres/country|park||| ||Grants|||||||||||7,946|228,734| |||||||||||||~9690,229|~7223,956| ||Grants received,|||included||in the|above,|are as follows:|||||| |||||||||||||31.3.23|31.3.22| |||||||||||||6|f| ||TMBC covid grant||||||||||||152,549| ||KHPC Deficit Contrbution||||||||||||9,101| ||KCC Reconnect|||grant||||||||7,946|31,784| ||TMBC telephone|||replacement|||||||||35,300| |||||||||||||7,946|228,734| |5.|CHARITABLE ACTIVITIES COSTS||||||||||||| |||||||||||||Support|| |||||||||||Direct||costs (see|| |||||||||||Costs||note 6)|Totals| |||||||||||6||6|6| ||Operation|ofleisure/golf|||centres/country||||||||| ||park|||||||||7,866,843||2,145,352|10,012,195| |6.|SUPPORT||COSTS||||||||||| |||||||||||||Governance|| |||||||||||Management||costs|Totals| |||||||||||f||f|6| ||Operation|of leisure/golf|||centres/country|||park|||||| |||||||||||2,119,992||25,360|2,145,352| |7.|NET INCOME/(EXPENDITURE)||||||||||||| ||Net income/(expenditure)|||||is stated after||charging/(crediting):|||||| |||||||||||||31.3.23|31.3.22| ||||||||||||||f| ||Audit Fee|||||||||||21,260|9,730| ||Other non-audit
services|||||||||||4,100|23,244| ||Depreciation||- owned assets|||||||||105,149|111,726| ## ## ## |STAFF COSTS||| |---|---|---| ||31.3.23|31.3.22| ||6|f| |Wages and salaries
Social security costs|4,711,550
318,190|3,854,721
254,296| |Other pension costs|382,744|423,389| ||5,412,484|4,532,406| |The av|erage
monthly
number ofemployees
during
t|he year was as follows:|| |---|---|---|---| |||31.3.23|31.3.22| |Senior|management|9|8| |Leisure|activities|375|336| |Support||11|9| |||395|353| |The number
of employees
whose employee
benefits|(excluding
employer
pension costs) exceeded|660,000w| |---|---|---| ||31.3.23|31.3,22| |860,001 - 870,000|2|1| |8110,001 - 6120,000|1|1| ## |||FOR THE YEAR|FOR THE YEAR|FOR THE YEAR|FOR THE YEAR|ENDED 31 MARCH
2023|ENDED 31 MARCH
2023||| |---|---|---|---|---|---|---|---|---|---| |10.|COMPARATIVES FOR|THE STATEMENT OF||||FINANCIAL ACTIVITIES|||| |||||||Unrestricted|FRS102|Restricted|Total| |||||||funds|Pension|funds|funds| |||||||f|f|f|f| ||INCOME AND ENDOWMENTS|||FROM|||||| ||Donations
and legacies|||||||219,280|219,280| ||Charitable
activities||||||||| ||Operation
of leisure/golf|centres/country|||park|7,192,172||31,784|7,223,956| ||Investment
income|||||1,159|||1,159| ||Total|||||7,193,331||251,064|7,444,395| ||EXPENDITURE ON||||||||| ||Charitable
activities||||||||| ||Operation
of leisure/golf|centres/country|||park|6,808,539|187,000|219,280|7,214,819| ||NET INCOME/(EXPENDITURE)|||||384,792|(187,000)|31,784|229,576| ||Other recognised
gains/(losses)||||||||| ||Actuarial
gains on defined||benefit|schemes|||316,000||316,000| ||Net movement
in funds|||||384,792|129,000|31,784|545,576| ||RECONCILIATION
OF FUNDS||||||||| ||Total funds brought
forward|||||954,862|(1,706,000)||(751,138)| ||TOTAL FUNDS CARRIED||FORWARD|||1,333,654|~1,577,000|31,764|~205,562| ## |11.|TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS|||| |---|---|---|---|---|---| |||Improvements|||| |||to|Plant and|Office|| |||property
f|machinery|equipment
6|Totals| ||COST||||| ||At 1 April 2022
Additions|1,048,545
20,452|245,071
50,042|70,194
2,505|1,363,810
72,999| ||At 31 March 2023|1,068,997|295,113|72,699|1,436,809| ||DEPRECIATION||||| ||At 1 April 2022
Charge for year|266,887
71,093|143,770
31,303|57,652
2,753|468,309
105,149| ||At 31 March 2023|337,980|175,073|60,405|573,458| ||NET BOOK VALUE||||| ||At 31 March 2023|731,017|120,040|12,294|863,351| ||At 31 March 2022|781,658|101,301|12,542|895,501| |12.|STOCKS||||| |||||31.3.23|31.3.22| |||||6|8| ||Stocks|||98,238|80,757| |13.|DEBTORS:AMOUNTS|FALLING DUE WITHIN ONE YEAR||31.3.23|31.3.22| |||||2|8| ||Trade debtors|||68,370|72,970| ||Other debtors|||4,725|176,717| ||Prepayments
and accrued income|||198,179|155,402| |||||271,274|405,089| ## ## ## ||||31.3.23|31.3.22| |---|---|---|---|---| ||||6|f| |Unlisted|investments||252,753|2,573| |CREDITORS: AMOUNTS||FALLING DUE WITHIN ONE YEAR||| ||||31.3.23|31.3.22| |Trade creditors|||159,211|264,096| |Social security and other||taxes|78,874|79,703| |VAT|||131,622|65,622| |Other creditors
Deferred income|||59,875
512,704|160,584
449,357| |Accrued|expenses||411,039|235,766| ||||1,353,325|1,255,128| ## ## ||31.3.23|31.3.22| |---|---|---| |Within one year|54,986|52,745| |Between one and five years|31,375|22,354| ||86,361|75,099| ## ## |MOVEMENT
IN|FUNDS|||||| |---|---|---|---|---|---|---| ||||||Net|| ||||||movement|At| |||||At 1.4.22|in funds|31.3,23| |||||6|8|| |Unrestricted
funds||||||| |General fund||||1,155,151|(119,953)|1,035,198| |IT Replacement
Fund||||149,203|(20,563)|128,640| |FRS102 Pension
Telephone
replacement||||(1,577,000)
35,300|1,626,000
~14,1 23)|49,000
21,177| |||||(237,346)|1,471,361|1,234,015| |Restricted funds||||||| |KCC Reconnect||||31,784|(22,542)|9,242| |TOTAL FUNDS||||||| |Net movement
in|funds,|included|in the above are as follows:|||| ||||Incoming|Resources|Gains and|Movement| ||||resources|expended|losses|in funds| ||||8|8||8| |Unrestricted
funds||||||| |General
fund|||9,692,068|(9,812,021)||(119,953)| |IT Replacement|Fund|||(20,563)||(20,563)| |FRS102 Pension
Telephone
replacement||||(135,000)
~)4,) 23)|1,761,000|1,626,000
~14,123)| ||||9,692,068|(9,981,707)|1,761,000|1,471,361| |Restricted funds||||||| |KCC Reconnect|||7,946|(30,488)||(22,542)| |TOTALFUNDS|||97001114|JI0012,195)|1,761,000|1,449919| ## ## ## ## ||||Net|| |---|---|---|---|---| ||||movement|At| |||At 1,4.21|in funds|31.3.22| ||||6|f| |Unrestricted
funds||||| |General
fund||805,377|349,774|1,155,151| |IT Replacement
Fund
FRS102Pension
Telephone
replacement||149,485
(1,706,000)|(282)
129,000
35,300|149,203
(1,577,000)
35,300| |Restricted funds||(751,138)|513,792|(237,346)| |KCC Reconnect|||31,784|31,784| |TOTAL FUNDS||~751,138)|545,576|~205,562)| ## ||||Incoming|Resources|Gains and|Movement| |---|---|---|---|---|---|---| ||||fesoul'ces|expended|losses|in funds| ||||6|6|6|6| |Unrestricted
funds||||||| |General
fund|||7,158,031|(6,808,257)||349,774| |IT Replacement
FRS102 Pension|Fund|||(282)
(187,000)|316,000|(282)
129,000| |Telephone
replacement|||35,300|||35,300| |Restricted
funds|||7,193,331|(6,995,539)|316,000|513,792| |Coronavirus
)ob retention||scheme|219,280|(219,280)||| |KCC Reconnect|||31,784|||31,784| ||||251,064|219,280||31,784| ## ## ## ||||Net|| |---|---|---|---|---| ||||movement|At| |||At 1.4.21|in funds|31.3.23| ||||f|| |Unrestricted
funds||||| |General
fund||805,377|229,821|1,035,198| |IT Replacement|Fund|149,485|(20,845)|128,640| |FRS102Pension||(1,706,000)|1,755,000|49,000| |Telephone
replacement|||21,177|21,177| |||(751,138)|1,985,153|1,234,015| |Restricted funds||||| |KCC Reconnect|||9,242|9,242| ## |A current year 1
as follows;|2 months|and prior year|12months
combined|net movement
in f|unds,
induded
|in the above a| |---|---|---|---|---|---|---| ||||Incoming|Resources|Gains and|Movement| ||||resources
f|expended
f|losses
f|in funds
f| |Unrestricted
funds||||||| |General
fund|||16,850,099|(16,620,278)||229,821| |IT Replacement|Fund|||(20,845)||(20,845)| |FRS102 Pension
Telephone
replacement|||35,300|(322,000)
~74,)23)|2,077,000|1,755,000
21,177| ||||16,885,399|(16,977,246)|2,077,000|1,985,153| |Restricted funds||||||| |Coronavirus
job
KCC Reconnect|retention|scheme|219,280
39,730|(219,280)
~30,488)||9,242| ||||259,0ltl|~249768||9,242| |TOTAL FUNDS|||17,144,4tl9|~)7,227,074)|207IXO|, 1,9,94,395| ## ## ## ## ## ||||Defined|benefit| |---|---|---|---|---| ||||pension|plans| ||||31.3.23|31.3.22| ||||6|f| |Present value offunded
Fair value of plan assets|obligations||(1,527,000)
1,576,000|(3,083,000)
1,506,000| ||||49,000|(1,577,000)| |Present value of unfunded||obligations||| |Surplus/(Deficit)|||49,000|~1,577,000)| |Net asset/(liability)|||49,000|~1,577000| ## ## |||||||||||Defined|benefit| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||pension|plans| |||||||||||31.3.23|31.3.22| |||||||||||6|f| |Current|service cost|||||||||164,000|223,000| |Net interest||from net defined|||benefit||||||| |asset/liability||||||||||39,000|34,000| |Past service||cost|||||||||| |Administrative||expenses||||||||1,000|1,000| |||||||||||~204 000|258,000| |Actual return||on plan assets||||||||~2,000|29,000| |Changes|in the present|||value|ofthe defined|||benefit obligation|are as follows:||| |||||||||||Defined|benefit| |||||||||||pension|plans| |||||||||||31.3.23|31.3.22| |||||||||||6|6| |Opening|defined
benefit|||obligation||||||3,083,000|3,084,000| |Current|service cost|||||||||164,000|223,000| |Contributions||by scheme participants||||||||24,000|27,000| |Interest|cost|||||||||79,000|63,000| |Remeasurements;|||||||||||| |Actuarial|(gains)Rosses|||from|changes||in||||| |demographic||assumptions||||||||(65,000)|| |Actuarial|(gains)/losses|||from|changes||in||||| |financial|assumptions|||||||||(1,837,000)|(323,000)| |Experience||loss/(gain)|on defined|||benefit obligation||||79,000|9,000| |||||||||||1,527,000|~3,083000| ## ## |||Defined|benefit| |---|---|---|---| |||pension|plans| |||31.3.23|31.3.22| |||8|f| |Opening
fair value ofscheme assets||1,506,000|1,378,000| |Interest on assets||(1,000)|(1,000)| |Contributions
by employer||69,000|71,000| |Contributions
by scheme participants||24,000|27,000| |Expected return||40,000|29,000| |Actuarial gains/(losses)||(42,000)|| |Return on plan assets (excluding|interest||| |income)||~20,000)|2,000| |||1,576,000|1,506,000| ||||||Defined|benefit| |---|---|---|---|---|---|---| ||||||pension|plans| ||||||31.3.23|31.3.22| ||||||8|f| |Actuarial|(gains)/losses|from changes||in||| |demographic
assumptions|||||65,000|| |Actuarial|(gains)/losses|from changes||In||| |financial|assumptions||||1,837,000|323,000| |Actuarial|(gains/losses|from changes||in||| |demographic
assumptions|||||(79,000)|(9,000)| |Return
on plan assets||(excluding|interest|||| |income)
Other actuarial
gains/(losses)|||||(20,000)
~42,000)|2,000| ||||||1,761,000|316000| ## ## ||||||||Defined|benefit| |---|---|---|---|---|---|---|---|---| ||||||||pension|plans| ||||||||31.3.23|31.3.22| |Equities|||||||64'/|64'/o| |Gilts|||||||1 '/o|1 '/o| |Other Bonds|||||||13o/|14o/| |Infrastructure|||||||3'/o|| |Property|||||||10'/o|12'/o| |Cash|||||||2'/o|2'/o| |Absolute
Return|||Fund||||7'/o|7'/o| ||||||||100'/o|18.| |Sensitivity|analysis||||6|||6| |Adjustment||to discount rate|||+0.1'/o||p po/o|-0.1'/o| ||||||1,159,000||1,527,000|2,063,000| |Present value of|||total obligation|||||| |Projected service cost|||||34,000||55,000|87,000| |Adjustment||to long term salary increase|||+P|1 o/o|p po/o|-0.1'/o| ||||||1,552,000||1,527,000|1,505,000| |Present value||of|total obligation|||||| |Projected service|||service cost||56,000||55,000|55,000| |Adjustment|to pension Increases and deferred|||||||| |revaluation||||||+0 1o/o|+p po/o|-0 1'/| ||||||2,043,000||1,527,000|1,172,000| |Present value||of|total obligation|||||| |Projected service|||cost||87,000||55,000|33,000| |Adjusted to|life||expectancy assumptions||1Year||None|.1 Year| ||||||1,571,000||1,527,000|1,485,000| |Present value||of|total obligation|||||| |Projected service|||cost||57,000||55,000|53,000| |Principal
actuarial|||assumptions|at the Balance Sheet date (expressed as weighted|||averages):|| ||||||||31.3.23|31.3.22| |Discount rate|||||||4.80'/o|2,55'/o| |Future salary||increases|||||3.90'/o|4.05'/o| |Future pension increases|||||||2.90'/o|3.05'/o| ## ## ## ## ## ##