| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 to 7 | ||
| Report ofthe Independent | Auditors | 8 to 10 | |
| Statement ofFinancial | Activities | ||
| Balance Sheet | 12to 13 | ||
| Cash Flow statement | 14to 15 | ||
| Notes to the Financial | Statements | 16to 27 |
| 31.3.22 | 31.3.21 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | Funds | ||||
| Notes | |||||||
| INCOME | |||||||
| Income from charitable | activities: | ||||||
| Grant income | 2 | 5183842 | 659,850 | 1,178,692 | 2,147,891 | ||
| Operation ofleisure and |
arts facilities | 3 | 4,221,040 | 11,512 | 4,232,552 | 1,651,094 | |
| Other income | 304 468 | ~304 468 | |||||
| Total income | 5,044,350 | 671,362 | 5,715,712 | 3,798,985 | |||
| EXPENDITURE | |||||||
| Raising funds | 4 | 605,428 | 605,428 | 317,810 | |||
| Charitable activities: |
|||||||
| Operation ofleisure and | arts facilities | 5 | 4,500400 | 658,961 | 5,159,261 | 3,113,509 | |
| Other | |||||||
| Balance ofpension scheme operating charge Net interest on pension scheme liability |
18 18 |
528,000 10~ 000 |
528,000 ~104 000 |
312,000 ~71 000 |
|||
| Total expenditure | 5,737,728 | 658,961 | 6/96,689 | 3,814,319 | |||
| NET EXPENDITURE | (693878) | 12,401 | (680,977) | (15,334) | |||
| Other recognised gains |
and losses | ||||||
| Pension scheme actuarial | (loss)/gain | 18 | I 616 0011 | ~1616000 | ~1,293 000) | ||
| NKT MOVEMENT IN | FUNDS | 922,622 | 12,401 | 935,023 | (1,308,334) | ||
| RECONCILIATION OF FUNDS |
|||||||
| Total funds brought forward |
(4,483,007) | 372,825 | (4,110,182) | (2,801,848) | |||
| TOTAL FUNDS CARRIED FORWARD | ~156038 | 3115226 | ~3175159 | 14110.1822 |
| 31.3.22 | 31.3.21 | ||
|---|---|---|---|
| Notes | |||
| FIXED ASSETS | |||
| Tangible assets |
10 | ||
| CURRENT ASSETS | |||
| Stock | ll | 91,337 | 76,361 |
| Debtors | 12 | 487,276 | 256,571 |
| Cash at bank and in hand | ~691 45 | 875 415 | |
| 1,269,958 | 1,208,347 | ||
| CURRENT LIABILITIES | |||
| Amounts falling due within one year |
13 | (510,117) | (399,529) |
| NET CURRENT ASSETS | 759,841 | 808,818 | |
| TOTAL ASSETSLESSCURRENT LIABILITIES | 759,841 | 808,818 | |
| NET ASSETSEXCLUDING PENSION | DEFICIT | 759,841 | 808,818 |
| PENSION SCHEME DEFICIT | 18 | (3,935,000) | (4,919,000) |
| NKT LIABILITIES INCLUDING PENSION DEFICIT | ~3175 159 | ~411tl 182 | |
| FUNDS | |||
| Unrestricted funds |
16 | 374,615 | 435,993 |
| Restricted funds | 17 | 385,226 | 372,825 |
| Pension scheme deficit | I33935000 | ~4919 tl0tl | |
| TOTAL It'UNDS | ~3875159 | ~4,110182 |
| 31.3.22 | 31.3.21 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| Cash flows from charitable | activities | ||||
| Cash generated trom activities |
(184,070) | 142,616 | |||
| Net cash from charitable activities |
(184,070) | 142,616 | |||
| Cash flows from fluauclng | activities | ||||
| Capital repayments in the year |
|||||
| Net cash from financing activities |
|||||
| Increase/(decrease) ln cash |
and cash equivalents | (184,070) | 142,616 | ||
| Cash and cash equivalents | at the beginning | ofthe year | 2 | 875,415 | 732,799 |
| Cash and cash equivalents | at the end ofthe | year | 2 | 691445 | 875,415 |
| RECONCILIATION OFDEFICIT TO CASH GENERATED FROM ACTIVITIES |
RECONCILIATION OFDEFICIT TO CASH GENERATED FROM ACTIVITIES |
RECONCILIATION OFDEFICIT TO CASH GENERATED FROM ACTIVITIES |
RECONCILIATION OFDEFICIT TO CASH GENERATED FROM ACTIVITIES |
RECONCILIATION OFDEFICIT TO CASH GENERATED FROM ACTIVITIES |
|
|---|---|---|---|---|---|
| 313.22 | 31.3.21 | ||||
| f | |||||
| Surplus/(deficit) | for the year | 935,023 | (1,308,334) | ||
| Loss ofdisposal | ofinvestment | assets | 2 | ||
| 935,023 | (1,308,332) | ||||
| Increase in stocks | (14,976) | (10,731) | |||
| Increase in trade | and other debtors | (230,705) | (172,495) | ||
| Increase/(decrease) in trade and |
other creditors | 110)588 | (41,826) | ||
| (Decrease)/increase in pension |
scheme liability | (984,000) | 1,676,000 | ||
| Cash generated | from charitable | activities | (184,070) | 142,616 |
| Year | ended 31u March 2022 | ||
|---|---|---|---|
| 31.3.22 | 1.4.21 | ||
| 5 | |||
| Cash | and cash equivalents | 691845 | 875,415 |
| Year | ended 31u March 2021 | ||
| 31.3.21 | 1.4.20 | ||
| Cash | and cash equivalents | 875,415 | 732,799 |
| CHAR1TABLE ACTIV | ITIES - GRANT INCOME | ||
|---|---|---|---|
| 313.22 | 31.3.21 | ||
| Sport England | 244,135 | 96,974 | |
| The National Lottery Fund |
181,700 | ||
| Lancashire County Council |
176,366 | 28,883 | |
| Burnley Borough Council | 97,721 | 256,987 | |
| Bumley, Pendle and Rossendale CVS | 95,000 | 47,500 | |
| Restart | 80,000 | ||
| Arts Council England | 44,364 | 336,600 | |
| Partner contributions | 43,295 | ||
| HAF | 40)950 | ||
| Job Retention Scheme Grant |
40,919 | 1,079,445 | |
| Business Health Matters | 28,731 | ||
| Local Authority COVID |
Grants | 28,132 | 250,381 |
| Clinical Commissioning | Group | 27,000 | 30,000 |
| Sponsorship | 17,379 | ||
| Canal and River Trust | 15,000 | 5,071 | |
| Stocks Massey | 3,000 | 5,000 | |
| Community Foundation Lancashire Care |
8,000 ~3050 |
||
| Total | ~1178692 | 2 147891 |
| CHARI | TABLE ACTIVITIES | —OPERATION OF FACILITIES | ||
|---|---|---|---|---|
| 31.3.22 | 31.3.21 | |||
| f | ||||
| Burnley | Borough Council annual | contract fee | 526,383 | 529,634 |
| Income | from the operation ofleisure and arts facilities | ~3706 169 | 1 121,460 | |
| ~4 232 552 | 1 651 094 |
| RAISING | FUNDS | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | 313.22 | 31.3.21 | |||
| f. | ||||||
| Staff costs and allowances | 275&178 | 275,178 | 218,798 | |||
| Premises | expenses | 55,410 | 55,410 | 19,347 | ||
| Services | and supplies | 142,201 | 142,201 | 52,383 | ||
| Transport | expenses | 706 | 706 | 1,807 | ||
| Agency and contracted services Business and technical support |
(see note 6) | 106,045 ~25 888 |
106,045 ~25 888 |
25 475 | ||
| 605,428 | ~605 428 | 317,810 | ||||
| In 2021,ofthe total costs raising | funds, anil | was restricted and |
f317,810was | unrestricted funds. |
||
| COSTS OF CHARITABLE ACTIVITIES | ||||||
| Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | 31.3.22 | 31.3.21 | |||
| f | ||||||
| Staffcosts and allowances | 2,476,604 | 345,716 | 2,822/20 | 2,190,901 | ||
| Premises | expenses | 498,688 | 9)525 | 508,213 | 175,258 | |
| Supplies | and services | 1,279,808 | 303,409 | 1,583,217 | 493,587 | |
| Transport | expenses | 6@54 | 311 | 6,665 | 16,401 | |
| Agency and contracted services | ||||||
| Business and technical support Governance costs (see note 6) |
(see note 6) | 232,996 ~5850 |
232,996 ~5.850 |
231,512 5 850 |
||
| 4,500,300 | ~658961 | ~5 159261 | 3 113509 |
| GOVER | NANCE AND SUPPORT C |
OSTS | |||
|---|---|---|---|---|---|
| 31.3.22 | 31.3.21 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | Funds | ||
| f | f | ||||
| Business | and technical support | 258,884 | 258,884 | 256,987 | |
| Audit services | 5)000 | 5,000 | 5,000 | ||
| Non-audit | services | 850 | 850 | 850 | |
| ~264 734 | ~264 734 | 262,837 |
| STAFF COSTS | ||||||
|---|---|---|---|---|---|---|
| 31.3.22 | 31.3.21 | |||||
| Wages and salaries | 2,559&761 | 1,980,568 | ||||
| Social security costs | 175372 | 142,311 | ||||
| Other pension costs | ~362 65 |
~270 348 | ||||
| ~3097498 | 2 393227 | |||||
| The average monthly | number ofemployees | during | the year was as follows; | |||
| 313.22 | 31.3.21 | |||||
| Employees | 152 | 150 | ||||
| Employees earniug |
more than I60,000 during | the | year: | |||
| 313.22 | 31.3.21 | |||||
| f60,001- 670,000 |
| BURNLEY LEISURE (A COMPANY LIMITED BYGUARANTEE) |
BURNLEY LEISURE (A COMPANY LIMITED BYGUARANTEE) |
||
|---|---|---|---|
| NOTES TO THE FINANCIAL STATEMENTS | |||
| FOR | THE YEAR ENDED 31STMARCH 2022 | ||
| 10. | TANGIBLE FIXEDASSETS | ||
| Fixtures | |||
| and | |||
| fittings | |||
| f. | |||
| COST | |||
| At 1stApril 2021 | 50,000 | ||
| Additions | |||
| At 31stMarch 2022 | ~50 000 | ||
| DEPRECIATION | |||
| At 1st April 2021 | 50,000 | ||
| Charge for year | |||
| At 31stMarch 2022 | ~50 000 | ||
| NET BOOKVALUE | |||
| At 31stMarch 2022 | |||
| At 31stMarch 2021 | |||
| 11. | STOCK | ||
| 312.22 | 31.3.21 | ||
| Leisure centre stock | 8,710 | 11,533 | |
| Towneley golf stock | 30,540 | 18,862 | |
| Bar and catering | ~52 087 | 45 966 | |
| ~91 337 | 76361 | ||
| 12. | DEBTORS:AMOUNTS FALLING DUE~ONK YEAR | ||
| 31.3.22 | 31.3.21 | ||
| 5 | |||
| Trade debtors | 464,744 | 249,552 | |
| Prepayments and accrued income |
14,879 | 2,172 | |
| Other debtors | ~7653 | 4,847 | |
| ~487 276 | 256 571 |
| CREDITORS: AMOUNTS FALLING DUE WITHI | N ONE YEAR | |
|---|---|---|
| 31.3.22 | 31.3.21 | |
| Trade creditors | 252,040 | 185,608 |
| Accruals and deferred income | ~258 077 | 213921 |
| ~510 117 | ~399 529 |
| The fol | lowing operating lease payments are committed |
to be paid within one year: | |
|---|---|---|---|
| 31.3.22 | 31.3.21 | ||
| Expiry | date: | ||
| Within | 1 year | 18,524 | 21,319 |
| Between one and five years | ~16381 | 34 186 | |
| ~34 05 |
55,505 |
| ANALY | SIS OF NET LIABILITI | ES BETWEEN FUNDS | |||
|---|---|---|---|---|---|
| 31.3.22 | 31.3.21 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | Funds | ||
| I | f. | ||||
| Fixed assets | |||||
| Current | assets | 884,732 | 385&226 | 1,269,958 | 1,208,347 |
| Current | liabilities | (510,117) | (510,117) | (399,529) | |
| Pension | scheme deficit | ~3935000) | (3~935,000) | (4919,000) | |
| ~3,560 85) |
~385226 | (3~175159) | (4,110 182) |
| UNRESTR | ICTED FUNDS | ||||
|---|---|---|---|---|---|
| Pension | General | Designated | Total | ||
| deticit | funds | funds | funds | ||
| Balance at | 1"April 2021 | (4,919,000) | 202,384 | 233,609 | (4,483,007) |
| Net income | / (expenditure) | 984,000 | 47,231 | (108,609) | 922,622 |
| ~3935000) | ~249 615 | ~125 000 | (3~560385) |
| At 1"April | Incoming | Outgoing | At 31u March | ||
|---|---|---|---|---|---|
| 2021 | resources | resources | 2022 | ||
| K | |||||
| Project fund | |||||
| Active Streets | 89,236 | 115,698 | 103,528 | 101,406 | |
| Arts development | 25,000 | 25,000 | |||
| Awards for All | 8,053 | 2,300 | 10/53 | ||
| Beat the Street | 15,000 | 80378 | 95,378 | ||
| Boat House | 5,000 | 5,000 | |||
| Culture Recovery | 144,888 | (49,200) | 95,688 | ||
| Cycling project | 10,371 | 10&371 | |||
| Holiday Activities | and Food programme | 50,593 | 30,924 | 19,669 | |
| Healthy Lifestyles | 69,092 | 306,619 | 280,965 | 94,746 | |
| Light up the Town | 14,491 | 6,042 | 8,449 | ||
| MAPS | 6,185 | 6,185 | |||
| PASTA | 33,000 | 1301 | 31,699 | ||
| Weight Management | 117,483 | ~33950 | ~83 533 | ||
| ~372 825 | ~671 362 | ~658961 | ~385 226 |
| projected unit actuarial | co | sts method. | Princip | al | actuarial assumptions used |
by the actuary were | as follows: |
|---|---|---|---|---|---|---|---|
| 31.3.22 | 31.3.21 | ||||||
| 12/ | |||||||
| Rate ofCPI inflation | 3.20 | 2.70 | |||||
| Rate ofincrease in salaries | 4.70 | 4.20 | |||||
| Rate ofincrease in pensions | 3.30 | 2.80 | |||||
| Discount rate | 2.80 | 2.20 | |||||
| Life expectancy ofa | male future pensioner | aged 65 in 20 years' | 23.70 | 23.90 | |||
| time | |||||||
| Life expectancy ofa | female future pensiouer | aged 65 in 20 years' | 26,80 | 26.90 | |||
| time | |||||||
| Life expectancy ofa | male current pensioner | aged 65 | 22.30 | 22.40 | |||
| Life expectancy ofa | female current | pensioner | aged 65 | 25.00 | 25.10 | ||
| The amounts recognised |
in the balance sheet | are as follows; | |||||
| 31.3.22 | 31.3.21 | ||||||
| Present value offunded | obligations | (15,169,000) | (14,454,000) | ||||
| Fair value ofplan assets | 11234 1199 | ~9,535 000 | |||||
| Net pension deflcit | 3 935000 | ~4919 tl9tl | |||||
| Analysis ofamounts | charged to the Statement | ofFinancial Activities: | |||||
| 31.3.22 | 31.3.21 | ||||||
| Operating charge |
|||||||
| Current service cost | 795,000 | 565,000 | |||||
| Past service cost | |||||||
| Curtailments | 76,000 | 15,000 | |||||
| Administration expenses |
~12000 | ~10 000 | |||||
| Total operating charge |
~883 000 | ~590 000 | |||||
| 31.3.22 | 31.3.21 | ||||||
| Other finance costs | |||||||
| Expected return on pension scheme | assets | (213,000) | (196,000) | ||||
| Interest on pension scheme liabilities | ~317000 | 267 000 | |||||
| Net charge | ~104000 | 71 000 | |||||
| 31.3.22 | 31.3.21 | ||||||
| Total charge to resources expended | in Statement ofFinancial Activities | ~987 000 | 661,000 |
| Analysis | ofthe actuarial gain |
s and losse | s shown i | n the St | atement | ofFinanci | al | Activities: | |
|---|---|---|---|---|---|---|---|---|---|
| 31.3.22 | 31.3.21 | ||||||||
| Actuarial | gains on assets | 1,174,000 | 731,000 | ||||||
| Actuarial | losses on liabilities | ~42 MO | ~2024 000 | ||||||
| Actuarial | gain / (loss) recognised | I 616000 | 1,293 000 | ||||||
| Changes | in the fair value of | the defined | benefit obligation | are as | follows: | ||||
| 31.3.22 | 31.3.21 | ||||||||
| Opening | defined benefit obligation | 14,454,000 | 11,631,000 | ||||||
| Current | service cost | 795,000 | 565,000 | ||||||
| Past service cost | |||||||||
| Curtailments | 76,000 | 15,000 | |||||||
| Interest | on pension scheme | liabilities | 317,000 | 267,000 | |||||
| Employee contributions |
123,000 | 106,000 | |||||||
| Actuarial Benefits |
losses paid / transfers |
(442,000) ~154000 |
2,024,000 ~154.000 |
||||||
| Closing | defined benefit obligations | 10169000 | 14,454,000 | ||||||
| Changes | in the fair value ofplan assets | are as follows; | |||||||
| 31.3.22 | 31.3.21 | ||||||||
| Opening | fair value ofplan assets | 9,535,000 | 8,388,000 | ||||||
| Expected return on plan assets | 213,000 | 196,000 | |||||||
| Actuarial | gains | 1,174,000 | 731,000 | ||||||
| Employer contributions |
355,000 | 278,000 | |||||||
| Employee contributions |
123,000 | 106,000 | |||||||
| Administration expenses Benefits paid / transfers |
(12,000) ~154000 |
(10,000) ~154,000 |
|||||||
| Closing | fair value ofplan assets | 11234 Olltl | 9 535,000 | ||||||
| The split | ofassets between | investment | categories | is as follows: | |||||
| 31.3.22 | 31.3.22 | 31.3.21 | 31.3.21 | ||||||
| 8 | 0/ | 0/ | |||||||
| Is(cities | 11,000 | 0.10 | 4,472,000 | 46.90 | |||||
| Government bonds |
90,000 | 0.80 | |||||||
| Property | 180,000 | 1.60 | 1,354,000 | 14.20 | |||||
| Cash/liquidity | 281,000 | 2.50 | 210,000 | 2.20 | |||||
| Other | IO 672 | 0011 | 95.00 | 3.499 000 | 36.70 | ||||
| 11234 | M II | Illll. | llo | 9 535 Ilotl | 100.00 |
| mounts for the current and previous periods |
are as follows: | ||
|---|---|---|---|
| 31.3.22 | 31.3.21 | 31.3.20 | |
| Defined benefit obligation | (15,169,000) | (14,454,000) | (11,631,000) |
| Plan assets | ~tt 34 tl011 |
9 535 tl00 | 8 388 000 |
| (Deficit)/surplus | ~3935000 | ~4919 000 | ~3243 000 |