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REGISTERED COMPANY NUMBER: 07712000 (England and Wales) REGISTERED CHARITY NUMBER: 1159655
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
THE PELICAN CENTRE LTD
Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB
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THE PELICAN CENTRE LTD
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Statement of Cash Flows | 6 |
| Notes to the Statement of Cash Flows | 7 |
| Notes to the Financial Statements | 8 to 14 |
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THE PELICAN CENTRE LTD (REGISTERED NUMBER: 07712000)
REPORT OF THE TRUSTEES for the Year Ended 31 March 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To promote for the benefit of the inhabitants of Tyldesley and the surrounding area the provision of facilities for recreation or other leisure time occupation, in particular swimming, for the public at large in the interests of social welfare and with the objective of improving the condition of life of said inhabitants.
Significant activities
The business has recovered well after the previous year's disruption due to Covid and management has built upon and expanded service provision to achieve levels higher than those in pre-Covid years. A trading surplus of £77,125 has been achieved and gym and swimming income streams have been supplemented by a strong performance in private hire income.
Public benefit
Our main activities and the groups at which they are aimed are described above within Objectives and Activities. All of our charitable activities are focused on furthering our charitable objectives for the public benefit of the local community.
STRATEGIC REPORT
Reserves policy
The reserves policy is reviewed annually by the trustees in light of current events. The unrestricted reserves are currently £311,932 and the free reserves (net current unrestricted assets) stand at £157,167.
This is in line with the board's recommendation of holding 3 months running costs of the charity in free reserves, which currently stands at £125,000.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The role, scope and responsibilities of the Trustees are enshrined in law, principally the Charities Act 2011 and the Companies Act 2006, and also the Articles of Association.
Recruitment and appointment of new trustees
Co-opted Trustees are selected following a search, advertising on the club website and personal recommendation. They meet with at least two existing Trustees, including the Chairman of the charity. It is the intention of the charity to have Trustees who have a strong interest in the sport of swimming, especially to encourage wide community participation for health and leisure purposes, and an appreciation of the governance role. The policy is to have a strong, gender diverse trustee board with a range of experience and skills.
Risk management
The trustees actively review the major risks which The Pelican Centre faces on a regular basis. These include health and safety, operational and human risks as well as reputational and financial risks. The trustees believe that the maintenance of general reserves, combined with the regular review of controls over financial systems, will provide sufficient resources in the event of adverse conditions.
The trustees have also examined the other operational and business risks which The Pelican Centre faces and confirm that policies and systems have been established to mitigate most of the significant risks. It is noted that, as a consequence of its status as a company limited by guarantee, the trustees of the company are liable to contribute £1 each should the company be wound up insolvent.
Public Liability Insurance is purchased in respect of certain events where the potential for liability exists.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07712000 (England and Wales)
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THE PELICAN CENTRE LTD (REGISTERED NUMBER: 07712000)
REPORT OF THE TRUSTEES for the Year Ended 31 March 2022
Registered Charity number 1159655
Registered office
Tyldesley Swimming Pool Castle Street Tyldesley Manchester M29 8EG
Trustees
P A Costello Collecting Officer J A Johnson Accountant Mrs A Roberts Teacher Dr A R T Thompson General Practitioner
Independent Examiner
Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company 19 October 2022 | 10:54 BST directors, on ............................................. and signed on the board's behalf by:
........................................................................ J A Johnson - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PELICAN CENTRE LTD
Independent examiner's report to the trustees of The Pelican Centre Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of BA (Hons) FCA which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mrs Jane Dennis BA (Hons) FCA Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB 19 October 2022 | 10:55 BST Date: .............................................
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THE PELICAN CENTRE LTD
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 March 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 85,575 Charitable activities Leisure & Recreational activities 432,528 Other trading activities 4 53,141 Other income 6 3,174 Total 574,418 EXPENDITURE ON Raising funds 7 7,477 Charitable activities 8 Leisure & Recreational activities 489,816 Total 497,293 NET INCOME 77,125 RECONCILIATION OF FUNDS Total funds brought forward 234,807 TOTAL FUNDS CARRIED FORWARD 311,932 |
Restricted funds £ 9,616 - - - 9,616 - 9,616 9,616 - - - |
2022 Total funds £ 95,191 432,528 53,141 3,174 584,034 7,477 499,432 506,909 77,125 234,807 311,932 |
2021 Total funds £ 185,168 86,025 15,239 80,268 366,700 2,612 356,376 358,988 7,712 227,095 234,807 |
|---|---|---|---|
The notes form part of these financial statements
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THE PELICAN CENTRE LTD (REGISTERED NUMBER: 07712000)
STATEMENT OF FINANCIAL POSITION 31 March 2022
| Notes FIXED ASSETS Tangible assets 13 CURRENT ASSETS Stocks 14 Debtors 15 Cash at bank and in hand CREDITORS Amounts falling due within one year 16 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 17 NET ASSETS FUNDS 20 Unrestricted funds TOTAL FUNDS |
2022 £ 187,173 850 29,928 239,421 270,199 (113,032) 157,167 344,340 (32,408) 311,932 311,932 311,932 |
2021 £ 151,121 320 31,338 161,940 193,598 (67,801) 125,797 276,918 (42,111) 234,807 234,807 234,807 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 19 October 2022 | 10:54 BST ............................................. and were signed on its behalf by:
.............................................
J A Johnson - Trustee
The notes form part of these financial statements
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THE PELICAN CENTRE LTD
| STATEMENT OF CASH FLOWS for the Year Ended 31 March 2022 2022 Notes £ Cash flows from operating activities Cash generated from operations 1 139,529 Interest paid (2,235) Net cash provided by operating activities 137,294 Cash flows from investing activities Purchase of tangible fixed assets (51,922) Net cash used in investing activities (51,922) Cash flows from financing activities New loans in year - Loan repayments in year (7,891) Net cash (used in)/provided by financing activities (7,891) Change in cash and cash equivalents in the reporting period 77,481 Cash and cash equivalents at the beginning of the reporting period 161,940 Cash and cash equivalents at the end of the reporting period 239,421 |
2021 £ 48,013 - 48,013 (675) (675) 50,000 - 50,000 97,338 64,602 161,940 |
|---|---|
The notes form part of these financial statements
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THE PELICAN CENTRE LTD
NOTES TO THE STATEMENT OF CASH FLOWS for the Year Ended 31 March 2022
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest paid Increase in stocks Decrease/(increase) in debtors Increase in creditors Net cash provided by operations |
2022 £ 77,125 15,870 2,235 (530) 1,410 43,419 139,529 |
2021 £ 7,712 13,959 - - (5,979) 32,321 48,013 |
|---|---|---|
- ANALYSIS OF CHANGES IN NET FUNDS
| At 1/4/21 | Cash flow | At 31/3/22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 161,940 | 77,481 | 239,421 |
| 161,940 | 77,481 | 239,421 | |
| Debt | |||
| Debts falling due within 1 year | (7,890) | (1,812) | (9,702) |
| Debts falling due after 1 year | (42,111) | 9,703 | (32,408) |
| (50,001) | 7,891 | (42,110) | |
| Total | 111,939 | 85,372 | 197,311 |
The notes form part of these financial statements
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THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022
1. STATUTORY INFORMATION
The Pelican Centre is a charitable company, limited by guarantee, registered in England and Wales. The charitable company's registered number and registered office address can be found in the Report of the Trustees.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 02) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
There are no material uncertainties regarding the charities ability to continue as a going concern.
The financial statements are presented in Sterling (£).
Income
All incoming resources are included on the Statement of Financial Activities when the company is entitled to the income and the amount can be quantified with reasonable accuracy.
Income from schools for swimming lessons is recognised at the fair value of the consideration receivable for services provided. Income is recognised according to the period to which it relates. Amounts invoiced in advance of the service being performed are accounted for as deferred income and recognised as income in the appropriate period, once the service has been performed.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Irrecoverable vat
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
Governance costs
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the remaining term of the lease Plant and machinery - 25% on cost Computer equipment - 25% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charitable company is exempt from taxation on activities relating to its primary trading purpose.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
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THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
2. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Contributions payable to employees personal pension schemes are charged to the Statement of Financial Activities in the period to which they relate.
3. DONATIONS AND LEGACIES
| Unrestricted funds £ Donations - Grants 85,575 85,575 |
Restricted funds £ - 9,616 9,616 |
2022 Total funds £ - 95,191 95,191 |
2021 Total funds £ 5,672 179,496 |
|---|---|---|---|
| 185,168 |
Grants received, included in the above, are as follows:
| Government & local authority COVID support Sports England Power to Change |
2022 £ 34,325 52,450 8,416 95,191 |
2021 £ 96,303 30,675 52,518 |
|---|---|---|
| 179,496 |
4. OTHER TRADING ACTIVITIES
| Unrestricted Restricted funds funds £ £ Hairdryers 72 - Lockers 633 - Vending machine income 396 - Resale of goods 11,213 - Private hire 40,827 - 53,141 - |
2022 Total funds £ 72 633 396 11,213 40,827 53,141 |
2021 Total funds £ - - - 2,110 13,129 |
|---|---|---|
| 15,239 |
continued...
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THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
5. INCOME FROM CHARITABLE ACTIVITIES
| INCOME FROM CHARITABLE ACTIVITIES | ||
|---|---|---|
| Activity Memberships Leisure & Recreational activities Swimming lessons Leisure & Recreational activities General swimming Leisure & Recreational activities Gym membership Leisure & Recreational activities Lifeguard sessions Leisure & Recreational activities Discount cards Leisure & Recreational activities |
2022 £ 1,235 157,823 45,827 213,888 2,823 10,932 432,528 |
2021 £ 870 25,514 5,748 51,471 - 2,422 |
| 86,025 |
6. OTHER INCOME
Other income relates to Furlough grants received.
7. RAISING FUNDS
| Other trading activities Unrestricted funds £ Purchases 7,477 8. CHARITABLE ACTIVITIES COSTS Leisure & Recreational activities 9. SUPPORT COSTS Leisure & Recreational activities 10. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
Restricted funds £ - Direct Costs £ 491,307 |
2022 2021 Total Total funds funds £ £ 7,477 2,612 Support costs (see note 9) Totals £ £ 8,125 499,432 Governance costs £ 8,125 2022 2021 £ £ 15,870 13,961 |
|---|---|---|
continued...
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THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
11. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
12. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2022 £ 213,519 10,493 5,741 229,753 |
2021 £ 165,678 5,554 3,921 |
|---|---|---|
| 175,153 |
The average monthly number of employees during the year was as follows:
| Manager Support staff (FTE) |
2022 1 8 9 |
2021 1 7 |
|---|---|---|
| 8 |
No employees received emoluments in excess of £60,000.
13. TANGIBLE FIXED ASSETS
| Improvements to property £ COST At 1 April 2021 173,780 Additions 31,475 At 31 March 2022 205,255 DEPRECIATION At 1 April 2021 28,296 Charge for year 9,056 At 31 March 2022 37,352 NET BOOK VALUE At 31 March 2022 167,903 At 31 March 2021 145,484 |
Plant and machinery £ 54,733 17,393 72,126 50,059 5,956 56,015 16,111 4,674 |
Computer equipment £ 5,953 3,054 9,007 4,990 858 5,848 3,159 963 |
Totals £ 234,466 51,922 |
|---|---|---|---|
| 286,388 | |||
| 83,345 15,870 |
|||
| 99,215 | |||
| 187,173 | |||
| 151,121 |
continued...
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THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
| 14. STOCKS 2022 £ Stocks 850 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Trade debtors 17,610 Other debtors 22 Prepayments and accrued income 12,296 29,928 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Bank loans and overdrafts (see note 18) 9,702 Trade creditors 69,676 Social security and other taxes 3,950 Other creditors 17,605 Accrued expenses 12,099 113,032 17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2022 £ Bank loans (see note 18) 32,408 18. LOANS An analysis of the maturity of loans is given below: 2022 £ Amounts falling due within one year on demand: Bank loans 9,702 Amounts falling between one and two years: Bank loans - 1-2 years 9,957 Amounts falling due between two and five years: Bank loans - 2-5 years 22,451 |
2021 £ 320 2021 £ 2,371 701 28,266 31,338 2021 £ 7,890 18,521 3,816 29,890 7,684 67,801 2021 £ 42,111 2021 £ 7,890 9,702 32,409 |
|
|---|---|---|
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THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted fund £ Fixed assets 187,173 Current assets 261,132 Current liabilities (103,965) Long term liabilities (32,408) 311,932 20. MOVEMENT IN FUNDS |
Restricted funds £ - 9,067 (9,067) - - |
2022 Total funds £ 187,173 270,199 (113,032) (32,408) 311,932 |
2021 Total funds £ 151,121 193,598 (67,801) (42,111) 234,807 |
|---|---|---|---|
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Power to Change fund CRLF fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1/4/21 £ 234,807 234,807 Incoming resources £ 574,418 8,416 1,200 9,616 584,034 At 1/4/20 £ 227,095 227,095 |
Net movement At in funds 31/3/22 £ £ 77,125 311,932 77,125 311,932 Resources Movement expended in funds £ £ (497,293) 77,125 (8,416) - (1,200) - (9,616) - (506,909) 77,125 Net movement At in funds 31/3/21 £ £ 7,712 234,807 7,712 234,807 |
|---|---|---|
continued...
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THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2022
20. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Power to Change fund TOTAL FUNDS |
Incoming resources £ 339,182 27,518 366,700 |
Resources Movement expended in funds £ £ (331,470) 7,712 (27,518) - (358,988) 7,712 |
|---|---|---|
21. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
22. CONTROL
The company is under the control of the trustees.
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