## ## ## |Trustees|||A Davies||| |---|---|---|---|---|---| ||||G C Davies||| ||||LAJ Dineen||| ||||P L Fowler||| ||||J Locke||| ||||D Smith||| ||||JAStephens||| ||||H Stockham||| ||||H Worth||| |Secretary|||H Morris-Sayce||| |Charity|number||1161131||| |Company||number|09519616||| |Registered||office|Aberavon
Leisure||And Fitness Centre| ||||Princess Margaret||Way| ||||Neath||| ||||West Glamorgan||| ||||SA12 6QW||| |Auditor|||Azets Audit Services||| ||||Ty Derw||| ||||Lime Tree Court||| ||||Cardiff Gate|Business Park|| ||||Cardiff||| ||||United
Kingdom||| ||||CF23 SAB||| |Bankers|||HSBC UK||| ||||1 Centenary|Square|| ||||Birmingham||| ||||B1 1HQ||| ## |||Page| |---|---|---| |Trustees'
report||1-7| |Statement oftrustees'|responsibilities|| |Independent
auditor's|report|9-11| |Statement offinancial|activities|12| |Balance sheet||| |Statement ofcash flows||14| |Notes to the financial|statements|15-29| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||Unrestricted|Restricted|Total Unrestricted|Total Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||funds|funds||funds|funds|| |||||||2022|2022||2021|2021|2021| ||||||Notes|F|F||F|F|F| |Income from:|||||||||||| |Charitable
activities|||||3|5,278,237|689,198|5,967,435|3,442,443|1,954,934|5,397,377| |Investments|||||4|35||35|||| |Total income||||||5,278,272|689,198|5,967,470|3,442,443|1,954,934|5,397,377| |Ex enditure on:|||||||||||| |Charitable
activities|||||5|6,148,273|772,185|6,920,458|3,952,954|2,167,847|6,120,801| |Net expenditure|||for the||year/||||||| |Net outgoing|resources|||||(870,001)|(82,987)|(952,988)|(510,511)|(212,913)|(723,424)| |Other recognised||||gains|and|losses|||||| |Actuarial
gain/(loss)||||on|||||||| |defined
benefit||pension|||||||||| |schemes||||||4,120,000||4,120,000|(2,010,000)||(2,010,000)| |Net movement||in funds||||3,249,999|(82,987)|3,167,012|(2,520,511)|(212,913)|(2,733,424)| |Fund balances||at|1 April||2021|(6,623,928)|82,987|(6,540,941)|(4,103,417)|295,900|(3,807,517)| |Fund balances||at||31 March|||||||| |2022||||||(3,373,929)||(3,373,929)|(6,623,928)|82,987|(6,540,941)| ## ## ||||2022||2021|| |---|---|---|---|---|---|---| |||Notes||||| |Fixed assets||||||| |Tangible assets||||||107,705| |Current assets||||||| |Stocks||9|40,621||25,862|| |Debtors||10|630,098||383,304|| |Cash at bank and in|hand||807,800||886,665|| ||||1,478,519||1,295,831|| |Creditors: amounts|falling due within|||||| |one year|||(1,082,448)||(924,477)|| |Net current assets||||396,071||371,354| |Total assets less current liabilities||||396,071||479,059| |Provisions
for liabilities||||(3,770,000)||(7,020,000)| |Net liabilities||||(3,373,929)||(6,540,941)| |Income funds||||||| |Restricted
funds||15||||82,987| |Unrestricted
funds||||(3,373,929)||(6,623,928)| |||||(3,373,929)||(6,540,941)| ## ## ## |||||2022|||2021|| |---|---|---|---|---|---|---|---|---| ||||Notes|||||| |Cash flows from operating||activities||||||| |Cash (absorbed
by)/generated||from|22|||||| |operations|||||(78,900)|||271,754| |Investing|activities|||||||| |Proceeds|on disposal oftangible
fixed assets|||||150,003||| |Investment|income received|||||||| |Net cash|generated
from investing|||||||| |activities|||||35|||150,003| |Net cash|used in financing|activities||||||| |Net (decrease)/increase
in||cash and|cash|||||| |equivalents|||||(78,865)|||421,757| |Cash and|cash equivalents
at beginning||ofyear||886,665|||464,908| |Cash and|cash equivalents|at end ofyear|||807,800|||886,665| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||2022|2021| |---|---|---|---|---| |Leisure and|cultural|activities|2,700,715|466,418| |Management|fees||1,519,522|1,436,025| |Performance|related|grants|1,747,198|3,494,934| ||||5,967,435|5,397,377| |Analysis
by|fund|||| |Unrestricted|funds||5,278,237|3,442,443| |Restricted
funds|||689,198|1,954,934| ||||5,967,435|5,397,377| ## |||Unrestricted|Total| |---|---|---|---| |||funds|| |||2022|2021| ||||F| |Interest|receivable|35|| ## ## ## ||||2022|2021| |---|---|---|---|---| |Staff costs|||4,712,294|4,378,681| |Depreciation||and impairment|107,705|347,812| |Premises|costs||1,119,766|860,585| |Transport|costs||11,382|10,692| |Supplies|and|services costs|542,811|336,582| |Support services costs|||426,500|186,449| ||||6,920,458|6,120,801| |Analysis|by|fund||| |Unrestricted||funds|6,148,273|3,952,954| |Restricted|funds||772,185|2,167,847| ||||6,920,458|6,120,801| ## |||2022|2021| |---|---|---|---| |||Number|Number| |Administration||23|23| |Leisure||246|248| |Total||269|271| |Employment|costs|2022|2021| |Wages and salaries||3,582,700|3,351,055| |Social security|costs|204,777|201,001| |Other pension|costs|924,817|826,625| |||4,712,294|4,378,681| ## ## ## ## |8|Tangible fix|ed asset|s|||| |---|---|---|---|---|---|---| |||||Leasehold|Plant and|Total| |||||improvements
f|equipmentf|| ||Cost|||||| ||At 1 April 2021|||142,549|451,560|594,109| ||At 31 March|2022||142,549|451,560|594,109| ||Depreciation|and impairment||||| ||At 1 April 2021|||126,100|360,304|486,404| ||Depreciation|charged|in the year|16,449|91,256|107,705| ||At 31 March|2022||142,549|451,560|594,109| ||Carrying
amount|||||| ||At 31 March|2022||||| ||At 31 March|2021||16,449|91,256|107,705| |9|Stocks|||||| ||||||2022|2021| ||Finished goods and goods for resale||||40,621|25,862| ## ## ## |10|Debtors||||||| |---|---|---|---|---|---|---|---| |||||||2022|2021| ||Amounts
falling due within||one year:|||K|| ||Trade debtors|||||33,848|58,279| ||Other debtors|||||240,116|| ||Prepayments
and accrued income|||||356,134|325,025| |||||||630,098|383,304| |11|Creditors: amounts|falling|due within one year||||| |||||||2022|2021| ||||||Notes||| ||Other taxation and social security|||||92,116|148,822| ||Deferred income||||12|144,805|101,645| ||Trade creditors|||||269,020|80,073| ||Other creditors|||||16,550|13,676| ||Accruals|||||559,957|580,261| |||||||1,082,448|924,477| |12|Deferred income||||||| |||||||2022|2021| ||Other deferred
income|||||144,805|101,645| ||Deferred income is|included|in the financial statements|as follows:|||| |||||||2022|2021| |||||||K|| ||Deferred income is|included|within:||||| ||Current
liabilities|||||144,805|101,645| ||Movements
in the year:||||||| ||Deferred income at|1 April 2021||||101,645|67,878| ||Released from previous
periods|||||(1,380,739)|(466,420)| ||Resources deferred|in the year||||1,423,899|500,187| ||Deferred income at|31 March 2022||||144,805|101,645| ## ## |Provisions|for liabilities||2022|2021| |---|---|---|---|---| |||Notes||| |Retirement|benefit obligations|14|3,770,000|7,020,000| ||||3,770,000|7,020,000| ## ## ## ## |Key assumptio|ns|||||| |---|---|---|---|---|---|---| ||||||2022|2021| ||||||0/|0/| |Discount rate|||||2.70|2.1| |Expected rate|of increase of pensions||in payment||2.9|2.6| |Expected rate|ofsalary increases||||4.4|4.1| |CPI inflation|||||2.9|2.6| |Pension accounts revaluation||rate|||2.9|2.6| |Mortality assumptions||||||| |The assumed|life expectations|on retirement||at age 65are:||| |The ass|umed
life expectations
on retirement
at age 6|5are:|| |---|---|---|---| |||2022|2021| |||Years|Years| |Retiring|today||| |- Males||22.1|22.3| |- Females||24.2|24.3| |Retiring|in 20 years||| |- Males||23.2|23.3| |- Females||25.7|25.8| ## ## ## |Amounts
recognised
in|the profit|the profit|and|loss account:|loss account:|loss account:||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||2022|2021| |Current service cost|||||||||||970,000|690,000| |Net interest on defined|benefit liability/(asset)||||||||||140,000|100,000| |Total costs|||||||||||1,110,000|790,000| |Amounts
taken to other|comprehensive||||income:|||||||| ||||||||||||2022|2021| |Actual return on scheme assets|||||||||||(2,130,000)|(4,250,000)| |Less: calculated
interest|element||||||||||390,000|320,000| |Return on scheme assets||excluding||interest||income|||||(1,740,000)|(3,930,000)| |Actuarial changes
related||to obligations|||||||||(2,380,000)|5,940,000| |Total costs/(income)|||||||||||(4,120,000)|2,010,000| |The
amounts
included||in
the|balance|||sheet|arising|from|the|charity's||| |obligations
in respect ofdefined|||benefit||plans are as follows:|||||||| ||||||||||||2022|2021| |Present value of defined|benefit||obligations||||||||24,390,000|25,380,000| |Fair value of plan assets|||||||||||(20,620,000)|(18,360,000)| |Deficit in scheme|||||||||||3,770,000|7,020,000| |Movements
in the present||value|ofdefined|||benefit|obligations:|||||| |||||||||||||2022| |Liabilities at 1 April 2021||||||||||||25,380,000| |Current service cost||||||||||||970,000| |Benefits paid||||||||||||(230,000)| |Contributions
from scheme members||||||||||||120,000| |Actuarial
gains and losses||||||||||||(2,380,000)| |Interest cost||||||||||||530,000| |At 31 March 2022||||||||||||24,390,000| ## ## ## |||||||| |---|---|---|---|---|---|---| |Retirement
benefit schemes||||||(Continued)| |The defined
benefit obligations|arise from plans funded as follows:|||||| |||||||2022| |Wholly unfunded
obligations||||||24,390,000| |Wholly or partly funded
obligations||||||| |||||||24,390,000| |Movements
in the fair value of|plan assets:|||||| |||||||2022| |Fair value ofassets at 1 April 2021||||||18,360,000| |Interest income||||||390,000| |Return on plan assets (excluding||amounts|included|in net interest)||1,740,000| |Benefits paid||||||(230,000)| |Contributions
by the employer||||||240,000| |Contributions
by scheme members||||||120,000| |At 31 March 2022||||||20,620,000| |The fair value of plan assets at the reporting|||period|end was as follows:||| ||||||2022|2021| |Equity instruments|||||16,270,000|14,250,000| |Debt instruments|||||1,730,000|2,110,000| |Property|||||930,000|720,000| |Multi Asset Credit|||||470,000|| |Cash|||||190,000|330,000| |Other|||||1,030,000|950,000| ||||||20,620,000|18,360,000| ||||||~ Cll
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Kz| ## ## |16|Analysis|of|net assets|between|funds|||||| |---|---|---|---|---|---|---|---|---|---|---| |||||Unrestricted||Restricted|Total|Unrestricted|Restricted|Total| ||||||funds|funds||funds|funds|| ||||||2022|2022|2022|2021|2021|2021| |||||||||F|F|F| ||Fund balances at 31|||||||||| ||March 2022||are|||||||| ||represented||by:|||||||| ||Tangible|assets||||||24,718|82,987|107,705| ||Current|assets/(liabilities)||396,071|||396,071|371,354||371,354| ||Provisionsand|||||||||| ||pensions|||(3,770,000)|||(3,770,000)|(7,020,000)||(7,020,000)| |||||(3,373,929)|||(3,373,929)|(6,623,928)|82,987|(6,540,941)| ## ## ||2022|2021| |---|---|---| |Within one year|3,572|3,572| |Between two and five years||410| ||3,572|3,982| ## ## ## ## ## |22|Cash generated
from operations|Cash generated
from operations|Cash generated
from operations||||2022|2021| |---|---|---|---|---|---|---|---|---| ||Surplus/(deficit)
for the year||||||(952,988)|(723,424)| ||Adjustments
for:|||||||| ||Investment
income recognised||in statement||offinancial|activities|(35)|| ||Depreciation
and impairment|oftangible||fixed assets|||107,705|347,812| ||Difference between
pension charge and|||cash contributions|||870,000|530,000| ||Movements
in working
capital:|||||||| ||(Increase)
in stocks||||||(14,759)|(761)| ||(Increase)
in debtors||||||(246,794)|(94,352)| ||Increase
in creditors||||||114,811|178,712| ||Increase
in deferred
income||||||43,160|33,767| ||Cash (absorbed
by)/generated||from operations||||(78,900)|271,754| |23|Analysis ofchanges
in net funds|||||||| ||The charity had no debt during||the year.||||||