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|Trustees||||
|---|---|---|---|
|||G C Davies||
|||LAJ Dineen||
|||P L Fowler||
|||J Locke||
|||D Smith||
|||JAStephens||
|||H Stockhem||
|||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 6AB||
|Bankers||HSBC UK||
|||1 Centenary|Square|
|||Birmingham||
|||81 1HQ||
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|||Page|
|---|---|---|
|Trustees'
report||1-7|
|Statement
oftrustees'|responsibilities||
|Independent
auditor's|report|9-11|
|Statement
offinancial|activities|12|
|Balance sheet||13-14|
|Statement
ofcash flows|||
|Notes to the financial|statements|16-29|
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|fifiain activities undertaken
to further the Company's
purposes forthe public benefit|fifiain activities undertaken
to further the Company's
purposes forthe public benefit||||
|---|---|---|---|---|
|Our activities
summarised
below are undertaken
to further
our charitable
purposes|for public benefit|||and can be|
|three areas:|||||
|Advancement
ofEducation,
Culture,
Arts &Heritage|||||
|Through
the provision
ofa structured
learn to swim programme
give the opportunity||for children|to become||
|confident
and proficient
in water|||||
|Working
in close association
with schools within the area, provide the opportunity
for local children||||to learning|
|to swim
in an encouraging
environment|||||
|Supporting
a wide range of live events and films at our Gwyn
Hall site to suit all tastes|||||
|The programming
ofthe latest blockbuster
films in our 3cinema screens|||||
|The promotion
ofshows and pantomimes
run by local amateur societies|||||
|Regular on stage live music performances|||||
|The availability
ofthe facility for conferences
and meetings|||||
|Frequent screenings
of National Theatre
Live performances|||||
|Working
with local dance schools with both practices and live stage performances|||||
|The promotion
ofWelsh language
in the Arts through
live stage performances|aimed|at younger|children||
|Recurring
monthly
quiz nights promoting
cinematic themes|||||
|Working
with local schools
in providing
a venue to host children's
art exhibitions|||||
|Assisting the local college in providing
working
opportunities
for students
to achieve||customer|||
|service-based
qualifications|||||
|Providing
an environment
for more relaxed cinema screenings
to benefit individuals||with learning|||
|difiiculties,
autism
and other cognitive disorders|||||
|Provision ofRecreation
Facilities To Promote Healthy
Living &Welfare|||||
|Utilisation
of our swimming
pool facilities by local swimming
and aquatic clubs|for both training||||
|and competitions|||||
|Use ofour indoor gyms, sports and bowls halls by various clubs, schools, societies and individuals||||for|
|recreation,
training
and competitions|||||
|Providing
two artificial football pitches for use by local junior and senior football teams|||||
|Promoting
the participation
in Walking
Football as both an indoors and outdoor sport aiming at keeping|||||
|people with lack ofmobility
still to be involved
with football|||||
|Use ofour outdoor athletic track by clubs and individuals
allowing them to be|involved
in running|||at afi|
|levels of abilities whether at a competitive
level orjust for pleasure|||||
|Promotion
ofother sports such as archery,
boxing, trampolining,
gymnastics,|martial|arts|||
|Use ofour facilities to undertake
vaiious shows to promote the interest ofthe|wider|non-sporting||community|
|outside ofthe leisure industry
by hosting events such as dogs and bird shows|||||
|The use of our facilities by various disabled
groups|||||
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|||||Unrestricted|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds||
|||||2023|2022|2022|2022|
||||Notes||6|||
|Igggmkf mm||||||||
|Charitable
activities|||3|6,974,134|5,278,237|689,198|5,967,435|
|Investments|||4||35||35|
|Total income||||6,974,134|5,278,272|689,198|5,967,470|
|E)gteudJgtfgg tt'||||||||
|Charitable
activities|||5|7,604,134|6,148,273|772,185|6,920,458|
|Net expenditure||for the year/||||||
|Net outgoing resources||||(630,000)|(870,001)|(82,987)|(952,988)|
|Other recognised||gains and losses||||||
|Actuarial
gain on||defined benefit pension||||||
|schemes||||4,760,000|4,120,000||4,120,000|
|Net movement|in funds|||4,130,000|3,249,999|(82,987)|3,167,012|
|Fund balances|at|1 April 2022||(3,373,929)|(6,623,928)|82,987|(6,540,941)|
|Fund balances|at 31 March 2023|||756,071|(3,373,929)||(3,373,929)|
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||||2023||2022||
|---|---|---|---|---|---|---|
|||Notes|||||
|Fixed assets|||||||
|Tangible assets||||26,802|||
|Current assets|||||||
|Stocks||10|32,766||40,621||
|Debtors||11|861,935||630,098||
|Cash at bank and in hand|||771,790||807,800||
||||1,666,491||1,478,519||
|Creditors: amounts|falling due|within|||||
|one year||12|(1,297,222)||(1,082,448)||
|Net cunent assets||||369,269||396,071|
|Total assets less current liabilities||||396,071||396,071|
|Net assets excluding|pension|surplus/(deficit)||396,071||396,071|
|Defined benefit pension surplus/|||||||
|(deficit)||14||36O,OOO||(3.770,000)|
|Net assets/(liabilities)||||756,071||(3,373,929)|
|Income funds|||||||
|~naLirita/t1uot)a|||||||
|General unrestricted|funds||396,071||396,071||
|Pension reserve|||360,000||(3,770,000)||
|||||756,071||(3,373,929)|
|||||756,071||(3,373,929)|
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|||||||2023||2022||
|---|---|---|---|---|---|---|---|---|---|
||||||Notes|6||6||
|Cash flows from operating||activities||||||||
|Cash generated
from/(absorbed||||by)|21|||||
|operations|||||||24,976||(78,900)|
|Investing|activities|||||||||
|Purchase|oftangible fixed assets|||||(60,986)||||
|Investment|income received|||||||35||
|Net cash|(used in)/generated||from|||||||
|investing|activities||||||(60,986)||35|
|Net cash|used in financing|activities||||||||
|Net decrease
in cash and||cash||equivalents|||(36,010)||(78,865)|
|Cash and|cash equivalents|at|beginning||ofyear||807,800||886,665|
|Cash and|cash equivalents|at end of|||year||771,790||807,800|
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||||2023f|2022f|
|---|---|---|---|---|
||Leisure and cultural|activities|4,125,259|2,700,715|
||Management
fees||2,801,159|1,519,522|
||Performance
related|grants|47,716|1,747,198|
||||6,9'74, 134|5,967,435|
||Analysis
by fund||||
||Unrestdcted
funds||6,974,134|5,278,237|
||Restricted funds|||689,198|
|4|Investments||||
||||Total|Unrestricted|
|||||funds|
||||2023
f|2022
f|
||Interest receivable|||35|
|5|Charitable
activities||||
||||2023f|2022f|
||Staif costs||5,101,597|4,712,294|
||Depreciation
and impairment||34,184|107,705|
||Premises costs||1,230,811|1,119,766|
||Transport costs||16,712|11,382|
||Supplies
and services costs||803,957|542,811|
||Support services costs||416,873|426,500|
||||7,604,134|6,920,458|
||Analysis
by fund||||
||Unrestricted
funds||7,604,134|6,148,273|
||Restricted funds|||772,185|
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|The average
|monthly
number ofemployees
during th|e year was:||
|---|---|---|---|
|||2023|2022|
|||Number|Number|
|Administration||22|23|
|Leisure||319|246|
|Total||341|269|
|Employment|costs|2023|2022|
|||E||
|Wages and salaries||3,914,196|3,582,700|
|Social security|costs|255,566|204,777|
|Other pension|costs|931,835|924,817|
|||5,101,597|4,712,294|
|The number ofemployees
whose annual
remuneration
is as follows:|was more than E60,000||
|---|---|---|
||2023|2022|
||Number|Number|
|E80,000 - E90,000|||
|E140,000 - E150,000|||
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|9|Tangible|fixe|d assets|||||
|---|---|---|---|---|---|---|---|
||||||Leasehold|Plant and|Total|
||||||improvements|equipment||
||||||K|K||
||Cost|||||||
||At 1 April|2022|||142,549|451,560|594,109|
||Additions|||||60,986|60,986|
||At 31 March 2023||||142,549|512,546|655,095|
||Depreciation||and impairment|||||
||At 1 April|2022|||142,549|451,560|594,109|
||Depreciation||charged|in the year||34,184|34,184|
||At 31 March 2023||||142,549|485,744|628,293|
||Carrying|amount||||||
||At 31 March 2023|||||26,802|26,802|
|10|Stocks|||||||
|||||||2023|2022|
|||||||K|K|
||Finished|goods and goods for resale||||32,766|40,621|
|11|Debtors|||||||
|||||||2023|2022|
||Amounts|falling due||within one year:|||K|
||Trade debtors|||||722,326|33,848|
||Other debtors|||||1,024|240,116|
||Prepayments||and accrued income|||138,585|356,134|
|||||||861,935|630,098|
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|12|Creditors: amounts|falling|due within one year|||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
||||||Notes|8|6|
||Other taxation and social security|||||136,912|92,116|
||Deferred
income||||13|261,719|144,805|
||Trade creditors|||||121,115|269,020|
||Other creditors|||||9,985|16,550|
||Accruals|||||767,491|559,957|
|||||||1,297,222|1.082,448|
|13|Deferred income|||||||
|||||||2023f|2022|
||Other deferred
income|||||261,719|144,805|
||Deferred income is|included|in the financial statements|as follows:||||
|||||||2023|2022|
|||||||8|8|
||Deferred income is|included|within:|||||
||Current
liabilities|||||261,719|144,805|
||Movements
in the year:|||||||
||Deferred income at|1 April 2022||||144,805|101,645|
||Released from previous
periods|||||(2,022,404)|(1,380,739)|
||Resources deferred|in the year||||2,139,318|1,423,899|
||Deferred
income at|31 March 2023||||261,719|144,805|
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|Key assumptions||||||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||||'yo||
|Discount rate||||||4.60|2.70|
|Expected rate ofincrease ofpensions||||in payment||2.60|2.9|
|Expected rate of salary||increases||||4.1|4.4|
|CPI inflation||||||2.6|2.9|
|Pension accounts revaluation|||rate|||2.6|2.9|
|Mortality assumptions||||||||
|The assumed
life expectations|||on retirement||at age 65are:|||
|||||||2023|2022|
|||||||Years|Years|
|Retiring today||||||||
|-Males||||||22.2|22.1|
|- Females||||||24.7|24.2|
|Retiring
in 20 years||||||||
|-Males||||||22.9|23.2|
|-Females||||||25.8|25.7|
|Amounts
recognised|in|the profit and||loss account:||||
|||||||2023|2022f|
|Current service cost||||||760,000|970,000|
|Net interest on defined||benefit|liability/(asset)|||100,000|140,000|
|Total costs||||||860,000|1,110,000|
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|14|Retirement
benefit schemes||||||||||(Continued)|
|---|---|---|---|---|---|---|---|---|---|---|---|
||Amounts
taken to other comprehensive|||income:||||||||
|||||||||||2023|2022|
|||||||||||6|6|
||Actual return
on scheme assets|||||||||(490,000)|(2,130,000)|
||Less: calculated
interest element|||||||||560,000|390,000|
||Return
on scheme assets excluding||interest||income|||||70,000|(1,740,000)|
||Actuarial changes related to obligations|||||||||(9,700,000)|(2,380,000)|
||Effects ofchanges
in the amount|ofsurplus|||that is|not recoverable||||4,870,000||
||Total costs/(income)|||||||||(4,760,000)|(4,120,000)|
||The
amounts
included
in
the|balance|||sheet|arising|from|the|charity's|||
||obligations
in respect of defined|benefit||plans are as follows:||||||||
|||||||||||2023|2022|
||Present value ofdefined
benefit|obligations||||||||15,980,000|24,390,000|
||Fair value of plan assets|||||||||(21,210,000)|(20,620,000)|
||(Surplus)/deficit
in scheme|||||||||(5,230,000)|3,770,000|
||Restriction
on scheme assets|||||||||4,870,000||
||Total (asset)/liability
recognised|||||||||(360,000)|3,770,000|
||Movements
in the present value|of defined|||benefit|obligations:||||||
||||||||||||2023f|
||Liabilities at 1 April 2022||||||||||24,390,000|
||Current service cost||||||||||760,000|
||Benefits paid||||||||||(240,000)|
||Contdibutions
from scheme members||||||||||110,000|
||Actuarial
gains and losses||||||||||(9,700,000)|
||Interest cost||||||||||660,000|
||At 31 March 2023||||||||||15,980,000|
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|||||||
|---|---|---|---|---|---|
|Retirement|benefit schemes||||(Continued)|
|Movements|in the fair value of plan assets:|||||
||||||2023|
||||||6|
|Fair value ofassets at 1 April 2022|||||20,620,000|
|Interest income|||||560,000|
|Return
on plan assets (excluding||amounts|included|in net interest)|(70,000)|
|Benefits paid|||||(240,000)|
|Contributions|by the employer||||230,000|
|Contributions|by scheme members||||110,000|
|At 31 March|2023||||21,210,000|
|The fair value of plan assets at the reporting
period|end was as follows:||
|---|---|---|
||2023|2022|
||6||
|Equity instruments|15,010,000|16,270,000|
|Debt instruments|190,000|1,730,000|
|Property|810,000|930,000|
|Multi Asset Credit|450,000|470,000|
|Cash|1,550,000|190,000|
|Other|3,200,000|1,030,000|
||21,210,000|20,620,000|
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|||||Movement|in funds||Movement||
|---|---|---|---|---|---|---|---|---|
||||||||in funds||
||||Balance at|Incoming|Resources|Balance at|Incoming|Balance at|
||||1 Aprg 2021
6|resources
f|expended
6|1 April 2022|resources 31 March 2023
f||
|Arts Council of|Wales|||199,018|(199,018)||||
|3G Pitches|||82,987|—|(82,987)||||
|Welsh Government||Over|||||||
|60's grant||||38,116|(38,116)||||
|HMRC Coronavirus||Job|||||||
|Retention Scheme||||399,030|(399,030)||||
|Neath Port Talbot -||Winter|||||||
|ofWellbeing||||8,034|(8,034)||||
|Neath Port Talbot-|||||||||
|Summer of Fun||||41,000|(41,000)||||
|Small business|grant|||4,000|(4,000)||||
||||82,987|689,198|(772,185)||||
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|21|Cash generated
from operations|Cash generated
from operations|Cash generated
from operations|||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|
|||||||||6|6|
||Surplus for|the year||||||(630,000)|(952,988)|
||Adjustments|for:||||||||
||Investment|income recognised|in statement|||offinancial|activities||(35)|
||Depreciation
and impairment
oftangible||||fixed assets|||34,184|107,705|
||Ditference|between
pension charge||and|cash contrtbutions|||630,000|870,000|
||Movements|in working
capital:||||||||
||Decrease/(increase)
in stocks|||||||7,855|(14,759)|
||(Increase)|in debtors||||||(231,837)|(246,794)|
||Increase
in|creditors||||||97,860|114.811|
||Increase
in|deferred
income||||||116,914|43,160|
||Cash generated
from/(absorbed|||by) operations||||24,976|(78,900)|
|22|Analysis ofchanges
in net funds|||||||||
||The charity|had no debt during|the|year.||||||