REGISTERED COMPANY NUMBER.. 09323582 {En9kd aNI Wal851 REGISTERED CHARtTY NUMBER.. 1162220 R•port ol th• Tn*t8•% ath Fln•n¢kl Statqmonts for the Yoar Endgd 31 lA0h 2024 for HainesWJlts Wabès LLP. siabJtory 7 NeplU CJrt Varyuard Way Cwdrff CF24 SPJ
C(¥rterts ofth• Financial Statements lorth• Yèar ErKled 31 IAarch 2024 Report of1 fnwt• 1 to 15 Il•port oltr IndwndWrtAudO• 16 to 18 Statem&nt of FIn•I•l ActMtI•s tg BOlan SP••t 20 Cmh Fltrwstatwnani 21 Noi0• to ts C••h Flow St•tn•nt 22 rJ lo 37
ReFrt of tl Trust frythe Year EThJ•J 31 March 2024 truEteas who are akn direclor5 of Ihe Ctsiity ts th8 pwposes of the Crygrrfes A¢1 2(M)6. present tIEir report with the finanoal slalerrnts of the charity for trt yearended 31 Marth 2024. The tNses have adopted the prowsion5 of Accounting and Reporting ty Chanties. StamentolRecthmmended PraL#Ke JcatAetocharibespreparing their accounts in a¢coraan wilh Ihe Finanaal Reports"ng Slar¥aaNI apF4ible in tt UK Repubhc of IreLand IFRS 1021 leffethve l January 20191. Trustees h8bp optsd to ccffjt4.ne ts irknmwiie41 r•qw•J in strat•2K reportwrfhin I"r R•port Of Trustees Obje¢Uv•s and Actfvitles of Nwport knve Nwport Llve was 8StabllsW lor puNic befft •¥ 8•t In tho Artl¢lis ol A$slatIOn wfiS¢h In¢lLKles: . To kYovid8 or assist in the prov15ion of bolh indoor outdoor facilrts In the interests of soual wevare for reaon or other i5ure bme owwatson of dIdU hav8 need of $uth by reason of Ihair y¢u¢h. age, Infirrnity ordisability. finanaal hardship ¢X 50aal riUMs10 w io P1¢ at larye wskn th8 obj.ect of improMThJ rDnditsons of lrfe., Andlor To pr(wnote c¢rnmunty PBrlwab"on in heatthy ¥ecreatswal aCtsvts5.' an To provth or a551St in the prow$ of ccfflrnunty la¢lity"es tts te av8ible lo all Sectio of the o)ft¥nunty without dL%linclicn. induding lor m¢ebng5. afid classes andlor 0rIO[m$ ol rBcre8bon ar#J L•isure lime ¢¢LupaUon with obje¢l of mprowng the conditK)rb of life for 311 those who Lts• th• facilits. arn11or To promote the gdv¢8tits) ol th• throu9h Ihtr prowshx of for Ferfornng arts". andlor Such ¢)¢her charSt8bl• purpgses as ihe Trustees in thw"r 8t4c4ut•d15uvtyon m•y d•t•mi.. Vl8lon. M6s•lon aNI Valua• Newport LIv8's m&sDn, Val remw&l uThthang•J in 20rJ.24. - The Mlulcffl for Wort LTh is... "Be thg PK+plè'¥ flrdt c1c8 ILYsp)rt. hlsuro. cul¢ur• •nt•rtalnmont'. d•llv•rfrvJ Injplratlryffjl progrnmmv •rKI •v8nts: provldlng gfeat ¥alug. In hloh gu•IIty facllrtlu. •kllled ory1 wrthwl•ic taff ¢t cro•t• happlor and healthl¢r Ilv•s." The vision provths t behavrn by WCh New grrwyees. vduntsèrs Twste85 •NJ4O ¢ortvnunicat• with our cust¢¥rnrs and p#rtn8r5 continual b•sB. The Vl¥lon lor Nèwport LNe 1$. "1n$rtng People to b• Happl•r & HogttN• The valu•s of the b118 ar•a th¢Me vJrenWo>es •ach d avery day aThJ with èvery cu$tthTr •xpernrA remiln Ai.. . Carln9 Innov•tfv• pa10nal• Ir•rIng T•am Publle Benel In settjrs and ct4e¢bws and r&nning actwtss lh• Tntse8 cjjnftrm Ih81 gavo, and wionue to gw8, careful conside"on to IhB Chanty Ciynmi$sDn gra1 9utyjan efj pu14c benefit and ils suPe[rntsry public benefit guidance Newport Live c4Jnlinu88 to emtx• thè of CLvnftwual praCts to delNer sotyal outcomes and 9on8r8te Slgnificani scrtol valw frt Nwort. ScAth Ea$lwa aNI 8Fwfi¢cwfmuThtswho sha a S'rj or cultural InteFest thai ser¥e. prtclng Newport LNe's prioNJ Slralegy for Custo19 balarKes ehartsb and cornmeroal rJeC¥t$. whilst remaining aligned to Fundin9 and Management 4er1 contractual wrements with our parkner NtrwF¥Jrt Cty C(KJncil. which irLlude pn0n1$ and oKess to seNKes aTrJ value for moTrey beiThJ key dn¥ers in 05t8hIrMj pwry. The policy ofacc4ss for all 1$ UeInned by a range of payffnt Meth1$ induding a.pay as you kaV' phiknsophy for most %livities. rforman$ and serwc65 yo¥Ade. Futhwrnore, we offv a t(mpreh8nsNe sector*ading induswe"corKe$sionary" pricing offering discounts for qualfying resNlents as agreed wth ourpaflners Newport City Countsl. and funding partners where natbnal policiej ¥ppty- itting NalKwl Exercise Releal. Fe Swimmiffj and pIuS Inilialivès. Page 1
Report tl Trte4$ fortho Yoar EwKl8d 31 March 2024 EmbaddiThJ of th• Chairand Board chang1¥ Newport LNe's Chair of eoard of Tru$e5 changed at Ihe Board meetsrg he on IS March 2023 Founding Chair John Harrhy reiiTrd. and the then Vte Chair Kevin Ward wa5 sek8cled by Trustees lo take fftr tte of Chair ol Il Board Our partner Newport City Courtil rnaintained its apkY)Inled Trnstees for the year to 31 March 2024 with Cllr Jason Hughes being replaced by Cllr Pal in May 2024 StephanN? Hazhur$t lTrJ as a TrLLslee on 31 March 2024. and th15 meant that the wa5 a vacancy on the Board The Boarf 15 cUrruY ¢Sn the skilb. expeince, qualiti. gender and div8rsity required lo llect the custonxrs and communrts serv&J by the charity The Board created 8 new AtsAthisory P8rl lo a bala of strato9 8rf5 8rn1 cylvral pth'cs lo the Board. The Arts Advisory Pan81 was recruited wilh the aderSh of Truslee Tumer who now chairs the Panel as the Board's expert in Ihis fidd Repiesentsiion from the Arts Counol ofWas. Ne%Ywt Cty and a large number of arbslic organisabons spanning th8 rOth and breadth of the art61¢ corywnunity in Ihe city wa5 achieved 109Etherwilh key appointrnents Includir#J disability and tr4uality champons wilhin the sethr. TF pand Iets in th8 5arr chronWy a5 th8 80gra $ub4Jroup5 lor Finance and HR. and PR Mathebry C¢>m)6, feediry into the Board on a bi-mnthty basi$ Faclllt1è5 Operatod by Nwport Liv• The facilitps Newport Lwe primw to owrat• thrcwh ts NvwiCty Courol lur#JirvJ and manogmnt agr89t and 8Xtemal leasiw are currenuy a$ fd10.. Gerainl Thoma8 Naiional Velr01 of Wales INISV) Regional Swimrniry Pool & Nport Tenn¢ INI Newport SIBdiurn INISVJ Actw Living Centr8 Rivfrrfronl The81r¢ & Art8 C•nb• Station 181j & Acb"w Tra Cyck SIorng• filty Cennecl Cenv• (Newport YMCA) S•rv1¢•5 Dellvered dudng 2023-24 Newport LIV8 conbnue¢ 10 delwtr a very of 5P)rt. lewre. culbjrai and new serwc•s indLkJiThJ relumiNJ to the front Ina ofdelivgfifg ¢dtn lor yourvj Fwlfr within commWI seib.ros within Cty of N8wpryt. SeMce$ tslivered in 2023-24 incle¢l.. Fxilty M•n8pm•nt & Cwabw• Sport. Physical Actmty & lIbe1r8 proyn Theats, Arts & Cultural a¢lMlie$ Café. Bar & Food 5ervKes Health ImprovenEnl & lthllbèir#J a¢JMIs School H8Y prograTrs Freg Swimmiry for 60+ Under 17,$. n9 Ml8ry P4rnon8¢ a V•tsrarK8 Evani PlanniTrJ, Cwdinatth aTrJ Dgh"%ery Interventions for NHS and Sooal Car• p8rtrrshl Theatre I1Ing the annugl RNerf¥ont Panlomyne a Spltsh Fg$tN4 Lwe MUSK. Concerts & PrlUeO Arts CeNffj. Art GaIry & ExhJrtioi Indoor & Outdoor MaJor Sportirg 8 Culbjral Events Commurty Sport & Arts D•v•knent prc9r•nThi scho based Sport kYogramfts 'sability & Indusion proJranTrmes Elhnicalty ONerse Cormiunity EThJaget progrnrntJ Earfy Years Phy5Kal Literacy Irainin9- Nur5enes. Ftyin9 Start & Sctx48 Community based attemalive slOry Educafr"on servis- AspwB PosrtNe Futures Youth ErvJagernent & IndusiDn Prcgramn Coach. Volunleer Developftni & T¥aining progre5 Sports Cl) SUFPOrt prograrnff Bool Ro¢)m a1 sports equipnnt Lern1ryJ Lthry P482
R¢p)rt of fnste¢s lorthe Year EThJed 31 March 2024 Active Travel-'morwtr" Bums Comm$5pJn Behavi)ur Cha8 PrOgrn. National EXerSe Referral Schen Cuporate Pamnt & CarBr. Ywro Carer& Respite kYC9ram Cwil Contingency SeMfS- ENrgew scena05 Key PartnN Kctivg Arts &Business Cymr u< active 0ryWD•d•u knrymal LEVELUNG T PLAYING RELD NEwpoRr allelcymru ty C'.I't..dwoh Iiiewn plan Believe In liildrn Barnardos C:)Thru co1q Glvoirl GWENT NEWPO GIG h1 (cedd5 Cymru PublK Ne•hh Wales newport casnewyd<l SPOR TS LEADER5• Pa9e 3
R•FQrt d the Trte•S forthe Yèar 31 PAarch 2024 N8WPOrt Uve Workforc• Nw4Pryt Live prowded ernploymenl duriNJ 2023-24 t0423 colleag. This was aCT05S 640 drfgrenl p)sts made up of fvll- lime1108 colle8gue$l. part tin Contract aTrJ casual post$1315 edkagU mbIlI. N&¥wi Live conbnd to pay Ih8 minimum oflhe F0Ltndatft rate of pay wa5 £10.90 for 2023-24 to all co14gUeS regar#kn of4•. N6WPOrt LNe have m•in a¢e•ss forth8 9th y¢ar lor 1 cdagu&s to Ihe L(1 Govemmwl Ponswjn Sch8rn8. Nthport LNe h8$ bge $pend £6.6 durirrfJ 2¢Y24-25. Ihi$ h•8 rtsen £2.7 mill frorn £3.9 million in the first year of oTaOn in 201&16 Annu•l Performanui P•rU¢lp•tlon Data Thoatre. Arts & ¢urtur• 2243 138,559 2&24 1.192 Sport. L•l•ur• & Phy81cal Actlvty 022-23 33.001 .744 140.508 2,253 2&24 15,899 7.695 97,695 1.110.265 Pa9e 4
for th8 Year ErJed 31 Mar¢h 2024 Capital Investrnw The Newport Stadium roof whKh has suffered sbjnrfrant failu allowr#J water Ingress into the buiKling o¥er a lory pericd of lime was replaced Irern the C8p¢tsI Investrftt Furwj at a c05t of £25LM(. lftt8rn cedirKJ ffliaws were 81so Complet follfming the roof rearmeThI whh has brwght Ihe faCty bath to 8 gfX)d $tsndard of repairforour customers an¢$ colleaoues The Athve LNirvJ Centre artifal lurf l¢kn wa5 r8TrJe¥ed 10 fl(KxYing zTrJ Ixilty reachirYJ the end of ils lynctional lrfe £650k was seDJr&Y for the repL9ceftI Iriwn rnuttip exlernal styJrces with a £SOk cornrnitrrtsnt from Newport LN8. Htrever a conyjlitatson was encountered with cLxmpliarv with $Usts1nats drainage dl to the creaSe in capauty cflaolity by rnore Ihan 10Ckn2 and therefore tl need to comWy %th rw standards for dr8inagg Thi$ re6ulted in the cost of Ihe project ting irKreased 10 £1 2 rrillion whh caused 8 delay untsl erttr the project was dcwngraw or a 501ution lo Ihe drainago system wa5 louTrJ that Woubj sati%ty Ihe Sustainab drainage test. N8wport Cty Cowcil have continued to p¢6iD"%e investrnent inlo assets k8se¢S lo Newport Lfve yi8 theirCawtslAss8t Mainienanee Fund, Carbon Reduction fundiro and Energy EffrKY Investment Newport Live's TfU51ees approved capital investment which Ihrough pathrship realsed £281k into infra$trucwrfr re&1hrrI at Ih8 Newport Internab(x)81 Sports Vilkge and kli¥ Liwre Cefity•. Ngwport Tennis Cntro Indoor courts were r¢surfac4d. Thpro¥ing th• quality of thg surface. Irwov6m&nts 10 th8 Wer court envlronrneni were 8150 made with nw baf drops, batcony thrj aTrJ ctyjrt fumrture as n•ts. umpire ch8irs and benche$ 8Ls0 lD9 Instaifed The court refurbk%hffni has bean a synfficant wnproverrent drwing p05iliv8 fe8dbac trom ffembets, Tenn Wales and LTA A £55k Invostrnent. Athlets"c• wowsion nefitted a £4c grant aTrJ conlnbub"on$ from N6wpDrt Hale AthktK• Cl> allNSng for the replacemeni of Tratk HurdS. High Jump bed(Iirg and covets ITh addition to r wwthair anchor$ in the 5h¢tyul area. 1 of Y4hKh •nsun#g Ihat Newport SIBd¥Jm c4nbnues to provbJ• huh quality athb rntIt Th• Actiw Centre was also Ihi rnopiint ol a hwl. KnproTr&ing pool actsit4'1ity for both pOrt Uve cuslemèr$ bul also use by Il s1 cWr•n who ust th8 FWI duriry Ihe daybme FdlNing on Irryn Ihe I0tre Ivahling wgr•aes dumg 202212023. Newport LIN wor• ab to work with the Carbon Reducbon Team ai Nèwport Qty Council and members of Arts CourKil olWak8s sepJrir9 an addiliw81 £30k to conlnue the work to Imw¢vè th• IKJhling at The Rirfronl Treat The posrtNe Irrpacl not only th1oh Ihe roduclion in energy Ih8t the I l&hliry System use5. bul aL80 removitYJ tho need for rePL8OnI k8mp$ in ihe unrt$ A further Imprevement bnngs better qU8lily for the frAlow and moving sr)ts at Ihè Rwerfronl. whKh ¢gn be con1roll ffjrnctely from the tech box fe$ulllNJ In Ihts orMv81 of need lor a t¢¢Mwn lo be b8s•d on the br$3es duiirg a Ferfomi8ne•. Th• Iwdhting systern in thg rn guditorium now offets an •xptrt availab to comp•$ In ENd thaatre$. A $ucce$sful application feffj £IW¢ lo Shared Pfc4penty Futsjiru SlatioTr via City CounLyI prowdèd a vital opportunity 1¢ rèv1St thè offer al Slation loknirffj its owing AcDrvJ upon customer feedba(. improNMnis to thè changing facilit% were made Ihrov9h fv Iry$t>Th olchangiThJ cub¢$ In Ihe fema chat¥JirwJ rr)Tts. Connectimty and power Irwwnenl$ wère made whereby fulure NYwfin9 th& facility through the inslallalion of &(Idib"onal ort( and power cab5 ¢0 rreet Ihe requirements ol Ihe rewty-prttuffjd equpwnI We took the opportunity 10 iryrove the cuslorfr eXp8nen throwjh inslallats.on ol wirtU81 troimng $1[. Introasing the numter of 61stanCe machines de-risking the Impact of rnainl•niry 12.year&J by reF4aciThJ muth ol the card)vas¢ular eqUIent ted Iron Newport Centre. The lacility upgrgdes a159 knduded addOnI1 CCTV units inyovry c10 8Th1 staff safety and Bddits"¢wl shodt bsorbenl noonr Carbon Reduction & Slain#tlIty Caon and energy reduthcn planning with Nthwrt Cty CtsJnal"s Climate Change Team and the commitrnent tc Carbon Zèro 2030 Targets are a top Wiafity for Al prcgects were fundgj ty Ing drfftmi availab grants by the Carbon Reductron Te8m ai Nport Cty CtyJn¢d aTrJ Ne4Wt . in 2023-24 indudld So&r PV inst811 durin9 Ihe $umrw of 202381 ts RwerfKffil. Work started in January 2024 to inslall Ekthvehide chargg ststiCffl5 al all three lId1r9$ on the N6wpx)rt IntematnaI Sports VIlL9ge 5rte This inClud evjht char9ern In eath of Ihree Ictations. These a the Geraint Thom*5 matnal Vek)drorne ofWaK8s. ihe Regional Pool a1 Tenni4 Centre aTrJ Ihe Newport Sladivm. Each ICKalTh has tlur last ¢har9ets rated at and four stsThJard thar9effs ai up to 22kw. Th8 install8kn8 were Pagè 5
Report of the Trustees forthe Year EThled 31 March 2024 completsd ttheen AwJu$i aryj ¢)kn aTrJ in Marth 2024 accourtsd for 1rJ olthè thargng u&e 8¢ross the Cjnl.s raty whle neork ofcar rhargers. riThJ 2023 the Rewal Pool teffi1# frDm the Kbst8lk8trDn 010 redu evaporation and Iherefore healing costs overnohl The TezthiThJ Is 20m x 7m aTrY was compkied first The main rthl wa5 cornmi55ioned several weeks later due lo varw ChaIre5 With the i#14U80n. Both fvll 0Onal by Decwnbar 2023. Str8tsty¢ H•adllnBS for 2025 Newport Uv8'5 TrLMte8s Ngv• •staNi5hBd and 8ndorn prlorrtl05 whbch Snclud• '. The cr•aben of 8 rw Newk¥XI LI 5.year stsate9y a1 bLLrS pkns that ¢¢trle to snd cory)bm•nt d•vèloprÉnt of Plocemaking, cuttur aTrJ SFrtIrfj stsateg& for th¢ City To Crea as58t man8ggTrt and Inv•strnwt strategs for Ntrrt LN8 cperated Iw1th5 aTrJ maximw grnnl fuThding to red8vgbp exL8lir4 41so1s urlwpin S18ty Oft tharty. Host major sportirvj afj (Jjllural evenls. 59¢unr9 fulur• ev•nt$ n¢ttly pwtN• opprytunibes forth8 city includng Team G8 pnN to Palis Olyrnpics 2024 Create 8 8UStsinaÈ49 9j grryth StraY forts Aw"re El0 Prcgfarffl. Cwekty) a buM55 lor Ihg ethtre and tiit•irYd laciahty aThJ 89ree •ssod#t8d ond link•d Stratsg for slotw wdlbeirrfd and the Cenv• tscl1'es. Conbnuè to ¢w4nunity ar proqrwrrn to•neourag? p8rts"opabon and posib chihahood 0xpene•S lor youn9 Fe¢)F4fr. Cenb'nuè ilh major cartth reduci)n 8nderwJy effJ•nl proi•th Ind furaing opportuni.•8 to F85tTrnd¢ chan9e. lfiemaae parWlh)n and •ngapThnt in welt¢ln9. #LINty Ihe art•. Grow wellbeing and cumural proaraw for re$ents. foojjiry ffjllb•ig, il health pre¥entKn and worklrg to delN•r ¥gainsl Re9ional 11tng Plan 8 Ntrwport'5 L(1 COnb"n the polrtwe paNner8h ith W City aThJ l)v•rng• the thantsbb, not ror profil orq8nffja.0n lor the benefrt of th• partMr5h In¢ieose sockgl wal delNered Ihrowjh sport, arf and cutture lo re$entS of the city. making a r•al diffgTrnce to P•OF4o's Iwos, uPding in Ihe IAlt•"ry ofFuturn Grabons Aci 2015. Newport Centre r¥plac•m•rtt The Newport Centre was sunendwtd by Newwt Lwe on 31 M#Tth 2023 and dld not fem part of Ihe operational oulcome$ for 2023.24. The lIdIng was rnan•aed lor sra1 w•oks inlo Apn"12023 beforn btirwJ officlly handod over lo the demolibon ¢ontraci In reium fer the earfy Surrender of Ihe Èase Wort Le Tntste¢s agreed to the Heads olTt$ for Ihe operati)n of8 leisure facility in the Crty Centre wilh Ne%rt City Couwl The Counul ha4t awarded a Contraa for the develop¥mgnt ofthe lacility whKh due L Ajthumn 2026. PJe 6
Nwport Llve Report ofthe Trustees fori1 Year 31 March 2024 Statlon The OKning of StalKn h&8 tltsve in lerrns 01mtsh gr but also Wmjen the demo9raphic ofcur membership base The Sing use luncbon of k8d to Ihe intrJL1scfi of 8 StatK>n Only TrErrthr5hip in 4Jril 23, txduding access to other Newport LNe $iS ar¥J berfjfits suth as Smij and rwLiSPCrfts. Attendpnc4 al Statth for2023-24 ty grw.. Age Group AtterhdaiKe JunKirs 18-25 2&35 3645 4&55 85 Ovef 65 Tot 29.824 33.733 60.459 81.057 68,934 62,536 57.820 15% 15.10 11.25-y•8r-obJs are rePresend in Slalh)Th more Ihan ac¥os5 olher facdrts makirva up 17% olth• u58r compor&a 1¢ only 13% al the Nthvport 1n1em8On8I Sports Vdkg8'S V8nou$ gym faulrts. Stslion has Changes to th• group exgrw b"rr•tabl• to Mana t r)M'r¥j d•m¥n(ls that a mixed swce provth8 OFen Fdan nature of Ibe faulity d¢xsn'l noi prrNide the rThxl coU¢ space to ¢oh8brtatron with several ¢las$es being rebcated lo the RrfrOnt The 9roup ex6rcKse IimBlat operated at an annual average of 43% o¢cupancy how•vtr. inprwThrst8 80 try mB(le. Thg InlroduetK)n ol Slation Bik¢ Siorap has provhY8d a se(wre travel cptycn for tustorÉrs, ?rredatIng 43 users 8L¥os$ over470 u5ayes from Seplemt•t10 March Incremental growth conbnued which tan be attrub# to the awarenos$ raised thnjgh mathgb.ro 8j our M¢Thnrn actw trw41 SiatKJn has hen the r•ciprt ofShar•J Proswnty FvfyJingtwhK h•$ enk•a Ihe prUrenlft1 ofadditional resbtsne• And rdiov8scularequ1prnt %%fieretriy netsfig the ne8ds ol our èer5 bul Utsng the nsks of op8rabng and rn8intOining equiprntnt relcroted trn Newport Centr¢ ca111 IrN•s¢ment wa$ also al¥n•J lo Irrprovements n tsJ8lomei charyire roo. gym fy)oriry but also inu#a5iry Fwr and nohvork ccThmunK8tions •rd srte swjnty wrth ènhanced and proved CCTV Cra98. Actlve Trav•1 8•h•viow chwnge pro9r•n¥•- MomoniYn Newport LNe wa$ c(Mnmissioned in January 2023 by Neww City Cnl 10 n¢t the dtsvek)pnt of 8 new ackn. travel behaviour change programn. Thè Burns CL4Trrrnssity) via 5h •nd Tr8n8porl for Wales prtsvhle the fvrx1in9 enat)ling us lo eStsl$h behaviour chaTrJe measures In and around If Newwt area Ineludirg. wothplace travel plannin9lem Joyer errfJa3erneni. adult CYC sIlL5 & m?Inn8nce tra1rj and s0¢4al prescnbin9 of a¢bva ¢ra¥81. The Inibal e months ol kne proieci Ind plannin9 and prOrOrrr ol Ly¢Jirg e0ulwnl. e5 and e-bik•s for the en948ment. Recruitrnent of a nw4rf delivery learn lo delNe( Ihe proj•cl had cLnd ai It end of Ihe year. The"Mom?nhTh" (Acts Tra¥ell prcgraNme e51815hed a relyk oldèthry oppulunits whereby eng8glng with reSents and errWcyer5 acYo$$ the cty. RecNthnent ol thè delNery team Inclwled fourfull lffre po$rtWs. en89 them 10 focus on a two-year delivery plan. The programmo has been subsecito stalf turnover with Intemal prcrnotion of of of Ihe engagern2nt offters 10 programme managBr resullirJ in Ihe apryjinlrnent ol rw Engagnt olfir$ beiNJ rThade before yearetKI. The pregramTh* establtshed a 5trNg wortiry ¥tShiP wlh several key empWTr Suth as Office of National Statistics. Intellectua Prtyerty Office, NepOrt Cty Counol. Nvwport Crty HO and sws dubs In¢111ng Oragons Rugby FoothÈl Club. Delivery 5tr8nds within prryJrarThme coThbnuwJ thwhout Iha year en$Ltrnffj alurrfnent 1¢ ¢usiom8r need. Brand Page 7
fry the Year ETrJed 31 Mar¢h 2024 awareness and conynunty engagement the key arpas ofde%ek¢)mentwth 15C#) ersaging Wrth the programrne dunn9 the year. In Septernr we launched Slalion Bike siorage wovidiry the uty wilh an accss&le and Secure facility in whKh tr) rAqrk your bike lknr470 usaps agoss over 40 usw5 wert co[lIed during qljarter 3 4. One of Ihe key do¥k)kent area5 was Ihe npntO.on of the waYKing rts¥0rk fnjm Ihe Rwerfront prowding ea5Iy a$s1b low intensity actimty. Inib"al erKJagettnl wa5 I. January to March s grtrwlh and eny8gerrtsnt A$Wr• Programm• The Aspire allematy¥e educalon prcgrarnr was tendered fty a1 by Newport Live from Ne%Yport City Council's preVenOn & Inclusion Depatheni In August 2023. Set up the TUPE tran5fBr of four A&pir¢ Youth Workers Irom Iho Youth SeN¢e. The 2-year contract lo NwFort Li%e Is fundtyj thrgh F?11 First and SPF funding str•awA, a5 well 8$ 8 onlribub.on Irom •ach partaP8lirJ hvJh schrd, these being John Frost. LLqnwem. and UL8werry Aw're eonsKsts of 36 puwl plxements lorscws 10 inb). 12 plxe$ Fer schoc4. and in total 48 pupiL8 across Yg8r 10 and 11 were 8nrolled on the yo9ramme tNveen Seplernber 2023 and July 2024 using the 36 plac5 availab48 In its first academic year wilh Newport Live, Asre has t¢en iewtsltsed athy kèy irrFro%ments have teen made 10 the pragrammj. •lafflng structu. outcorrtss rep#. an(1 tm rd¥b0hI) t•8rn havg schod whir knad•rship t•ams. datiOn, mulll-agency partner5. aTrJ the cwmunty Aw're puwl 8ttend8nce incr¢•s&l by 21%. basod the y¢$ perfomMnc• data yovthd by Ngwpryt Cty Courol. Aspire pupils re oniewd lor 71 GCSES IAQI 1h ENJlL8h ar Math5 bBiThJ SUPPQrted In Aspi by teacher$ IrrNn eoch school 137 addbtional qualrfKas wore been achie%d thrOh Pmces Tr1, HYJhfekls, sw1, and P4or#d Cymru All ol t wpils %vho Aswre ITh July 24, have onio 8 rexl Steps pfogFar¢Y. al colÈ9e orwilh a training provkJ8r. Ond Ikerelore are rKst part ol Ihe NEET I1 In •rnph)yrrnt or e<tKIn gro olyoun9 Ptopl•i. a key succ8$$ asurt for Ihp Wre kyoqrwnrw lo t• Itrf. Connect Contre The cen¢1 Cenlre ¢ts"nd io to w1C1ty to lerf¥cnrily hou58 Sl Andr8w'$ Pnmary SCWI Th• 1o¢11ity was du810 r•turn lo tn Juty 2024 t1 has $th0ou•nlty teon extgnded 10 March 2025 where 8 bak clause in the 10 yaar ase has bggn In9JeiwY and th• property du8 to return lo c)rf1 YMCA on tho 31 March 2025 8$ Newport LNe do not ha? $usl8in•bl• busin•u fortt fxlty. Rlv•rtront Theatre and Art• C•ntr• The Riwrfronl has contsnuéd 10 irrpkntarts aThJ cultur 5¥ the mpny arb$bc 9enw 1$ youd lo reach aw1nces and ery8ge 8L¥w South Was •ThJ beYd an kn Coun1 ofW8les Arts PorYolK) WA1 organisatson Th• Rirfront rJJrrenlty offers the onty publ tsnema in Newport'$ oty ¢entre. Seeks ¢0 ensurè cinema 18 occ4ssIb and affordablb. Sèvèral important projects were vThl•rtak•n dunry the year. ¢1)ITha Ihe mportani OFPOrtunity to join thg Crgabve Indu$td•s Clu$ler Hubs ICICHI bec4use of a successlul 9r8nlawanl of £50k. which Nvwp)rt Lwe were please# to be ore ol th& partn8r¥hip 8tskehothTr. Newport Live has eents.nwd to charnpKn susiainabltty. a parttshP aFproach In¢l)Ir9 Nwort City Counol and Arts Covnol ofwath has 5wPCd irrproktments to the Iwjhbfig InfrastnJcturg¥¢ross Its Riverfroni. fftduding public aTrJ b8ck5tage areas a$ well as Ihe al1t0JM ilsetf The wcrt will also conbnue to irnprove the 5U51ainabilty of the theatre with irnprovemenl$ haviNJ tthn made to the ¥tIlatTr. The Rerrr1 a continuir¥J lo work with ottr 1$h venues and were pkose# to Th& lthlsh Thtatre aTrJ ts Clxnole Cw e51, lj cm 12 Juty 2023. Dufing Iheyear the new Iheatre tKetiThJ m8n&aenni sofvare TKke1So was imWerw)ied. offenng improvermn15 to Ihe ticket purcha54ng PFocess lorwr ¢v$t(xmers. digiial 3nd LwJ51n2ss rnana9ement and elficiew b8nèfi15 for Newport Live. The platfom offers the opportunity to abo nwnagt Rwtrf¥onte¥ents as *ell as tw aLy0$5 NPOrt LNes wid&r portlolio and Ihose that are city we Amongst a vast nuffb•rof Prqects ¢hatwere andd&hrea dunng Ihe year Bg $a$h Fesiryal. WTharu$h Canbbean Film Feslwal. Bitcoin Bc¥. Culbvate. R<xna Cekbralion. Creative RoDts. Lullaby. Playhouse, Roots & Roots, Art on the Hill. A Brief History olDrfferenee and the arnual patr, Robin Hooa. all ofwhrh are hugety import2nt in support of Pap8
Rwrt of th8 Tru5te85 lorthe Yoar EThled 31 IAarch 2024 the Riverfront Judw ive1x)nI an, lo ensure e%ryor in the uty abk to erg8ge wth arts and Cuttural cpportunib"8 Aouatic5 The Lèarn to prD3rar¢wre has wn"nLEd to fsce a number of chaleroes. space being 8 major factor In SpeCt ef trB volurne of dernand for swmmin9 0$ Ve% tte availalIty of PCKA sp This Is both Sin dO$u of Newport Centre at th& end of March 2023. and the OThJn9 delay In Ihe develwent of the venue. The availability of 8Urtably qualrfi8d Swimming Teachers logether wth the ret8ntvM ol tsse IrmyMjU#ls ha5 the greate$t ¢halkn9e to thè pertomnc cfthe Leam to Swyn pro9ramrrws we delived. Th818unch ofa besKth Train 10 Teach wcgiamrng to ruI and d1cP surtabty qualrfd Level 1 and Le1 2 teacher8 alongshje th8 Earty Ygors prograrNne (Bubb & Styashl oints.nues t¢ 5e• Peop join the Inclusty hwver thts will lak8 rne lo develep. To support the prcgram cpportunrties there has teen investnl in skilb through thè d8velopm8nl of a Train lo Teach Pro9rarn. woviding th8 cpportunty b train to beco a Swim Teacher. whth f58& on provKlin9 trainin9 8nd mentoring ol poop18 Into th8 Industy alorg wilh the QPPOty for 8mptyftni those In the programn perfom)an¢e swrnming programme sur¥Jorts Ihe rfOrmanCe pathways olyoung Part1Pating In the sport Is continuing 10 see Improvements the teadwshp of th8 Head Coa¢h Neww)rt has aLso continued lo deve programmos of I•Ure Bnd lar $wiMin9 with •4Ua-baW to tsNicthiTap Pathpatn aj ¢ontMue to Inspir• peop to be haFpr atthr. Pre9raMn 10 supwt Ccffjrnunil the gty ¢onbnL Indlg Ihe G)v•mm•nt Free Swim Inibavve for peopb agecl 6luS and 16 and der. wsth acts¥"rt$ W¢y4id•d zt toth N8WWrt Inteftwt)naI Sporfs Village 8TrJ Active Living Ceniro Our Sch)ol Swinmiw pro91am aLg0 continues lo enc4uia9e young of primary school 999 to leam th• iryortant life skill. Tlre was conlinualion of the pltrjl work undtrtakén lo creak lerkwle onty swirnrning spacgs lor Ihose of Muslim tailh. Newport LIV8 8UPPOrted Ihe Intr¢yJuthen of 3 ekly sessKsns operated by Ktt4Care4U aTrJ ba In the Teachiffj Pool al the Regional Pcx)l and Tennis Cèntre. The fty provKJ&l a Space that mel Ihg QUIra1 reouirnm•nts of the group through I $laffirg of female lrfeguard5 znd prNate ¢han9irg lacilibe$. The Prtr410n has key 10 1lIng tt•nfid8nce wrthin the community thai l•sure provBv)n B accesth to Ih•r 8rKI obi Healih, Fltno88 and Wdlbelrwj The launch ofstslion In Apnl 2023 wa5 Thporfant toerure Newport Li¥• wouhj contsnue o oty ethitre pr•s•rK8. Stslion ha$ proved to bo •n Impjrtant Ven Newrt LMI porttokl, as 8 Ctre suppytir@ montsi phy$ic41 wellbeing Across all Newport LI venues there * a lrfi ThrnberSh nurrt)ers a$ peoplo continu8 to rgwnoe Ihe Imwrtant of Ing physiCaty actNe. unique prwosrtion of Newport Live offen"n9 Kn¥)&r S)rt indLklirvJ Health Checks and P&rsonal Prograrnr 89 part ofthe membttshp offer contmkS to set us apart fr¢)rn olhergym prolerS In Ihe ar88 including both more exCINe and 9?¢ ofter8. Tf IntroductK)n ol Group Exerc8 dasses ai str)n as wdl as Ihe rnve of dasse$ 10 Rivefftonl Theatre and A Centre ha$ pro¥ed positive. there eonlinLW to be a ChaInge wth the 8V8iLgt¥"hty ofsuitabb spa¢•5 available to us SI the dc6ure of Newport Centre Zumba. Yr>3a and Dance based classe$ have moved lo the RrfrOnt Negab've feedback has been e1Ved due to Ihe ¢halNJ&s wth av8iLqble car parkin9. h(Mever NewF¥Jrt LNe are constanlly Seeking solulicns to this wllh the aim olrnducing bar11e to porbopgtwjn. The Gcx)d8oo$t wwamrne ha5 toa further partrrship wrth Aneunn Bevan UnDietsity Heatth Board'5 IA8UHBI Muscur Sktlal Physiothewy Deportftni WOvKjg 3 6-rronlh Feriod. whereby hosbry we or FQ51-OFerabve paInts for physiotherapy in a (k-medralffjed $dtiNJ. Th•suco55 of Ihrs LAted in th• partnwship continuing into 24.25. Newport LNe ere able to SUkWOrt pr85enlators lo AJlhnb$ arkl Community Leisure UK on Nffivport Livtr'5 approach to the SOlBst prograrTTh. these were posrtNety recwved. Suppcrft 8TrJ guNJae have teen provJed lo se¥eral P*9
Report crf Tnotets lorth• Yèar Ended 31 IAareh 2024 organE8tron5 as tw tw"n tts jouny Ofintalry Ih8 pfcgTanYne into tsir offeriThJ inthding Ihe Muscular Sckross group for N8WWt. Cy¢llng Ne%vptyt Lwe sUssIU1ty laun{1 the Cymnjvelts TT3c Cup in Novamber 2023, in lebration of the 20th Anniversary of the Gerainl Thomas National Velfx1ron of Wa. this was In partnershp with Ihe narnBd 8eiio Cymru The aim 6 for this to t 8n annual event. hm¥er ewntthJe8 resutt m 8 swJThThlcant financ431 Prdswre that the Trath Cydifig Team will Seek innovatNe ways to delNer. AlongsK1e the CymwVek¢ Tr Cup 11 be a Ser offfigTren1 e¥ents au0 the city to furtPr•rKourage your¥J peop to engage with $k¥)rt olcyding. The benefits of h8Tr&irg a nLmber tsf Spa avaiLq to us ¥ross ts City dLS ai%0 rrnan Ihal eThJ8gemenl events happen ai bcatws outsth of the Stts Vdlage, IhK5 incd Parks and green sparns. Newport Le hosted thè Youlh Junior Tra( chompn"p$. 8 ek-kny e¥nt ld duriry Juty 2023. this evanl r88uIts n a hugdy posrtNe impact a(X0 the •. not at th• Gaint T15 VeloJrcvw. 81$0 acrots tOUri5m and Ihe IL1 N8WPOrt LN¢'$ Chihens CycliNJ PrC#3MTh 1?8 Io F¢rform woll. with knrrmng iryortsnl lrfe skill tsf Ing 8be The suiws el IFk• Ntwport 15 fcrfAI Pro9rarmie conbnues to devdcg )th se$6KJn per week avaiLabl8 10 the publi along$8 8 nurnr 016essim$ ¢reaknl in partn•r5hipwth Mae5 Ebty SpecKql Schtsj Serennu Céntre T8nnl• Import8nl lo resurtactr ts Indoor Tennis Centre courts ni aad durirya th8 penrJ, which meant Ihal Newport Live were ?ble io providè An excelnt playir%J surfxe and enwirMm•ni in the aty parlvp8tsThJ with Ihe $lrt of i#nni5. prgjecl ncluded th• r•F4acThnt cl the backdrop surrouNJs and Ih11rj In the Tennis Centre Tr tentre ets the LTA requirements, ensurng cornplon wrth the IMI of 6¥nt that Li¥ are ab to host courts were officially ep•n•d by Counclbr Oob Harvey on 28 Ctbb•r 2023 folbAr¥J a rgrg? of taster $s+n8. Th? Tennks Team underteok tho annual ro•J8hryrf pnmary schtrJLs the cty. wrth r 2.rfv) chiKlrnn er&apd. proving 8 tastef session. and synposbrJ them mto an eveni 81 Ihv Tennv6 Centr8 o¥er the of a week•nd. Thi5 offers • p8thw8y into th• Nl'rm and jun Pr(#3rwffls. Newpffi Lw• fjrked dosdy with Cty Council afvj TènThs Wales to a ¢o¥th&J pro9ramrr offer for the 5 newly refUlS outdoor cowts at Tredegar Park. thi% ¢ an irtwrtani atlilb)n to th• progranTh and see$ the engag&m•nt broJen lo th•tA•St sY• of tr tsty. Ne%vwt Lwe )rked wilh Tènnis ts188 lo estswffjh t centye as an LTAeekhr Tenni$ DeNe1ment C•nir•. The progrAmmè offKially launcw In 2023. and is b•ing ty Ihe NalK)nal Cooch. Thi i$ 8 gre81 adc'tion tg ¥n alte8dy hKJh-quality indusNe y¢>arnmn. (tn1 akn hosted Be5SKsns by one ol the UKS 1rj whkh8ir ¢oacl prov#Jing an Inspiralional paihway for ptscFlt accessmg the ntre NewpNt L.$ T•nnra Manapr atso hostirg Ihe Lexus Int•r[t)I JuTh)r ITF Corkwlrtion at thè Newport Tern Centre This wa$ the fiT51 iryttmation81 Tenrws Eveni whth fan ILY a dur May 2023. ¥ttrac"r9 120 competstors frern Hong Kory. 1Th1R. Sirgzpor?, USA. IrelaTrJ. Gennany and Spain. Communlty Sport & W•lb•lng Work acro$$ o)mmuni¢Es. earfy year5 setbThJs. schools. park$ aTh1 open S5 lake5 PL9 daily wrth high ls ol engagement and supwfl beir¥J gwort to trikjren. ywThJ Pe. and famtls Th• impact ofthLS work by Newport Live supports servte areas a¢S a rarMJe of partners Includin9 Newport Cty Counul. Gfit P. thurin Bevan Univ8r511y Heatth Board, and the third sector Is gaty valued and the mpact hugety imp¢Jrt2nt Sport Wakn fund paro[byrs ofwork wrth nuTSW5. Start setbr¥J$. primary sthods, And $8corfary school$. a$ well as SPOrt5 dubs. L8 of a high siaNJard. parthjpats.on are $trors. funoiry inlo NeWrt fcr clubs and groups as well as school$ is Increasing which In tum sjpports Ihe mtKovennt ol spa5 and environrrÉnts 1¢ play and partiupale in sport aNJ physul aClNity. Pa9e 10
epDrt ol the Tn81••s lorthe Year Erylod 31 March 2024 Work with NewK¥)rt Cty CwrK41$ EdLtati Cwartmeni ha5 to Newport Lrytr ed1j on the creation of cluster-bas& health 8Th1 Wellbei teacherand s¢hod grtyjps. linked to the developftni ofthe nev+ (xJrTr¢ulum al area of arnIng ¢xpernce for weNbein9. Wthin Ihese or9arlls&J Scho stsff aTrJ parthefs work legather. Sha experial$ and resources, and reNe trainiThJ forexamr in INenThj sport PE indusNtty, IhTough LI.5 Di58bility Indusion rraining. N8WPOrt Live have progre88ed to insport Gold as ofthe natirmaty reccgnised awafd with LIs8ts1ty SpOrtWaS. Newport the first local aulhLYty area in Wales lo aclwe this, meanirvJ our approaches and Ih8t of our partners In delivenng sport and physical actsvty Incluswety Is hHJhty feg8rdwJ natnaly. Re¢(4n1tn spec1fi¢ally of our staff In kisur and art5 iaality'es, In hL8 and Communit$, and our partIrshipS wlh soch81 $eNtes, and health has been P0511iv¢ throughout the award arK% recognitn pro9 ovei many years IhrL)ugh Ritthn. Bro)ze, Siwr and nLYw Go. Posrtive Futuits 15 8 youth and sport programwe hJrhYed by the Office of the Gwent Pdict and Crime Commissioner, which uses $port. physKal acD"Mty, and MUSK to as an engagernenl t(K>l10 inspiTB chihyren young people at nsk of exploitatn, ¢rime and anli-swal b&hawou, and Invdvemnt In the cnminal I10 system. This prcgramrre 1$ embedded Into MUl- agency groups working dosely with colagues frorn Nrfrfpon cty Cwnul's Ywih Jusbce Servte. Youth Sem, Pfevenliens. CNldren'$ servis, and Edutaiion Links to UK yeuth aTrJ spon for deVeThen1 partners and neorkS ha$ brought aboul wojects In Newport suth a5 Levelknry tho Playing Fiekl. whth became a key p'ec8 ofwoth In Newport 8round dispropo0alIlY n the cnminal Iu51Ke system IreAn young pecpk from ethnullydi%erse communitss Posib'¥8 Future$ work Includes community open a55 youth pecIs. er4J¥Jes 3LKI young peopkn a In a8$ of high poverty, as well a$ ow lo one referred y(XJng peopk support and tid group Interventions wrth yours ople This wo reaches thc68 young peop xross wr (t)mmuniti8s ¥th) would not 1radrtnalty eng•Je wilh N8WPOrt Live pro9ramm6s and 6ar¥ice5, Wllhin its vènuas, but 1$ Se408dln9 In rgrwfjg bnrs to Pafbcvkn, ¥TrJ 0¥919 yrj peop and provwjirg them with a voice from our tunmunit¢s. Specffic Onett Piogfammes, •vents u hc4KJay xtwib8s ¥re etr fwlib6S or ¢knmnI1$ by Ntrwport Live8 Comrnunty Sport & Welltèiw leam IndudiNJ OFerabon Bary wilh C£Munity safety PartrS en90gin9 young people In communit5 at an1140oal behamour peTh)ds. Welty Walking ftsr parents 8ThJ fami8$ with young chtklren supportir physical Iiierow. Gits Tak80¥81 8¢tsvrt lor leenagg 9irts to ioualise twlher. ty sporL an# be 8¢b 85 a group, fooiball, rugby, and basketball spots carnps. Sport In the Part mss parb¢pabon lamily days oul on p8rk5 aTrJ green spac•s. OvgNl•w ol IbnawKlal porforniancè for y••r•rKl•d 31 IA•rch 2024 N8wport Live reported an 0ra11 defiol of £48.70712023" surplusof £7,933.0511 The undertyirq plom8nc4 of business. excludiry Ihe adjustry15 for the Local Grnr1 Por6icffi Sctsrne ILGPSI resultod In a dèficit of £48,707 12023. £1.498.9491 This is mode up ol unreslncled deTKIl cl £1.37912023 dèficit of £1.402.64518nd a re$tncl6d dofithl of £47.32812023. £96.3041 As reported In note 12 to thè finarwl ststemenb. a pror year adjustment ha$ teen mad8 to re51n¢l the pen510n assgt In ts ctKnparatNe balanc sheet to £nil. as it ts noiconsthred roverable through eilh8r r8fund8 or read fulure conlnbutyons In the plan. Tl tirj entsps have impact th8 finorrfial F•rfo¢¢ refer•rt8d here. Ont• again. donatn$ 98c a made up of the ofthe k)rth• la1 and not1 fyntsl costs incurred by Newport Lwti Ihal Bre bor by Newport Cty Council Inveslmtnt incoffe Includes rtntsls reCed aCcKj)fi io Ihird parb"e8 and Newport Cty Coundf8 Educabon Oepartment where th• c¢rCl Cent in Piltyenlty ty currently used 1o1orrporarity house part ol St Andrev+'$ Primary S¢hool. AL0 induded 6 In$¢ rKew8bk cffi b8nk dEposIts made dunng the pewd Incerre from ¢hariiaN• 8cINi tola1j £8.724.22312023. £9.171.$991 as fdltr*5'. 2024 2023 £000 5.490 Operniknn of SFrt LeL8ur•, Art8 & Culturnl actlvllle$ Mana m•nt Fe85 Grant$ S.521 Totsl 8.724 Page 11
R•port of the Tru5tee5 forthe Year ErKled 31 March 2024 Managewt Fees thJeed sonrfKanty in 2024 wth a CourKa appr1 txxlget elfr of a 10% resung in a £217k cut. Overall expeTh1ItU totald £11.147,321 in year ended 31 March 202412023." t12..21. siaffiro costs remains the kgryesi cost bome by Newrt Li¥9 as rt$UFPQrt•J ts ¢XdwLdUnrvd ¢)rwir¥J c05t of IIMng cri. Staff coststotal £5.961.03512023.£7,132.1331 Newport LNe mad¢ a fvther pay award durbrvj th• yearto 31 Marth 24 88 r¢fer¢nt in more detailwithin EMF4)•$ sectyon lar In thi5 report Yvr Tot1 F•• EOOI 1181 2022-23 202344 5.316 5,740 1046 1366 8.973 .9% +7.Y R•$orv8s pollcy The Newpert LNe 8oard are •31 Ihat a reasw•bkn thl of uArestrKtsd noTh408ignalgd reser¥es * required of N••n £600.WQ and £800.ocKJ for folbwing r8a50rs". To absorti short.iem sethscks such a5 kjss delay9 I1 ¥ThY unlwwon exp•fvJitsJrn requirernents To fin8nc wel1 capital n8eds. Such as d81ays in rK4ipts and to fvnd th• anybmè ey8 tehv88n devebpiry projects, obiainin9 Approval aTrJ fvnds receNed To eov•f th• wothing captsl required lo fuTrJ tniry tyrfferen betdwn ewndilure 8TrJ r8C8Pt offun#s To eo¥•r th8 tosl of inw5tsThJ in slaff trainiThJ and velowni 10 iftwrov• sfftes End effick?rw gf Ihe c¢Ynp)ny and to hèlp relain profesShal empkjyees To cover the captal and reNnue dd•vtkpir#J and ex1 To allw for anni veStrInts Of$imiLgr Inlments To allN for wchc4 main¢8 expendibjre lor whKh Nwort ¥n obab"on undw prowrty KryaJg¥ 8n(I I propety rn•intenanc• m•irpx agrry•rynl wrth Newpjrtcity Council TM 8o8rd has also agreed ts ¢reoty of Ihe fdkxing unresinthd dèsKjnai r85eN¢s.' £1.000 to be used Ihe costs 8s$00gied wdh organisaiional rnstrucluring £154.000 to be used for Ihe fJ)sts as$ooaied wilh It undertakirMJ of feasibility stud$ lo ascertain th• and environnwnt need$ reou¥ed to pLace tho t¥J51Mss al Ihe ILvefront of 5$r prowsth t)r th• fulurn. £962.308 to be used lor th8 mainnanc• and de¥e1cPnI of Newpvrt Liw's esla ¢3ov•rMnc• and Rlsk ltsnaBom•n¢ A1911r Govoman Newport Live Ts ¥ ¢orrFany lrnrted ty guarantee and a rn>steffjd charity. and B governed try its Artick8s olAssociation, established on tts 24th Novemt)er 2014, •ThJ conwncthj tradmg on I WI 2015 wlh a portlolK) of five kni$ur• faulilias and one performing arts Iheatre. In the eveni IY Nlrt LN• b•ing wtyjnd w. M8miern are e¥h wu¢reil to Contr 8n 4mtyJnt exceedirg £1. The embers compn$• the MeTrnraTrJum. tl Tw$lg88 Nwport C¢¥ cnts1 iai a COrvrate br>Jyl. Recrultment and appoOntm¢rt ol r•wtru•lo•S Unless othewise deternined by LNe. the Board lhal eofit olat18ast Ihfee an(1 MO than •V#n indwhluals mpnsed as follow$ - up to Newport Cty Council (Local Aulhorityl Ttee8., orbd . Up 10 nim Ccffjmunity Tw5tees Community Trustees shall at all lirms be in Ihe Maffty The Cty Counal Trustees are nominated by the Council who abo determine Iheir perityj of appoinlmwt. In seledThJ the Trustees. the Board shall consider the skills and expertiye required of all Tfusiees to coninbul• to Ihe suc¢0s5 of NtFXt LK and. any skims thniffkgj from lirr to time by the Board The TrtL8iees are all fepresentsb'vos ol Ixal ccffluThty and bmg a wl1h of exkrience. skills and •xFQrte to Ihe eharity with reesenta"VeS from Mealth. Hrxjsry. 81rS8. Finafi. Lttsl Go¥emm2nL Charty. Edu¢8ltfi. Comrnunity Organi5ation5. aTrJ Ihe Vdunlary Se. Page 12
Report cl the Trlee5 for thè Y¢at EtJed 31 March 2024 (Xjring 2023-24 Newport Cty Countsl rroiniained both Qlr F¢Thy and Cltr Hugh8s wlh th8 Lqtter repL8C8d by Cl Drewett in May 2024. All trustees receive trwnmg and on-goir¥J infomKab"on wrth regard (¥gantsation indudiw its PLwers and 048cts, arn1 their duties and resp(fft$ibilibes to Ihe Charrtable Company Ofganl•aUon81 stryKtur• The E¥eculiv8 Team rnainla4n the resFon&tslity for day to day business adership 8nd operab.onal deltiiery of Newport Live ¢peratn81 aThY admini51rabve sem. Thg Executse Team B ¢alknged and guNJed with strategt kadership and direction frorn the board of Trustee$ Ilhe Board) regardsng Ihe prow$ion and {vrati of the servics. The Board durirYJ tho yaar cre8ted and recruited to t Advsw Grcmjp Arts aThJ Cutture to irKyease Strategt InsKJhl that trTre Arts can have. and we shwld seek to doli%r. alignirvJ to thè kty objvtw agre•d with th8 Arts Cwnc41 of W8185 The Beard cf Truslee5 ccfjlin to meet on a trt-rnnlhty bass wth Ihg S1-GrLMJrffj meetbig In the Intervening monlhs.Th6 Arb and Culture AdvEory Par1 leslablished m 2023-20241 mel re9ularty throjhoUt the yearwith thi8 panel provldhg professn81 Jwport and adv4 al a strote9 and Operat91 leW 81 •Ad wtth wuired. Employ088 an¢1 ernpioyw •9a9whent Newport Livo shafys Informatffi on its strategic and cper8ttrJnal and c4edNes. Fwfomwnce and kw pgrfomiance Indicators status through rBguL8r meetings inVoj Tt¥S aThd twr emOyeeS Newport Live MaInS commthd to lh• principle ofdiversty and i110n regard of •3e. goThJ¢r. dhnicity. race, di58bility. relwJK)n. gender reassignment or 88xual orlatiOn Thes8 pnnuples Bre retscbj in ¥?.$ ¥Fwoach to the recnjthnt. devel¢)pmeni 8nd I promotion ¢f INslw8 a1 employees Sala of ts tharity'$ key managenk•nt wrsonnèl ar• rèvi&w•d ragularty Bnd benchm•rk•d 4galpAt olhor ¢)per4bng in S•Ct¢. Néwpert LN•, b•ir¢ 8 not for profil and a regr61ered charity. ha5 8 lègal lo man4¢ its fingnc$ respon6ibly ano sel SU5tBinab bget5 for luture Nvwrt LN¢ 8ppreg0195 ond valws its Workfor 18 8w8re of financial pressures bw'ng fawl by in#NkYv¥b ¥nd f¥mil• ow4 cost ol liwing crtty. Throughout our8 years ol trading, ha$ maintsined18vds of r•rnuMrniion to a standard that is Affordab to the £honty. rwnunerabon $wports the releft)n ol$taff 8ThJ seeks 10 support our •nplty•è$ lo Iwe an afftsrdÈble lrfe. In 2023-24 th8 incm Ircm the rnan3geTrnnt p8hJ lo LNe by Newt Cty coul11 wa$ reduc¥(l as a C1 pressure and budg•t $aving approved by the Counal. fee paby by £217k. a year on year rg¢udion of 10% The annu•l r8t8 of inflation ICPII as olAugl 2024 ¥tood at 2 5% The Lmng Wgje Foundatn.$ Real Liwry of £10 90 WAS app1ie¢J frvm 1 Apnl 2023 cmil1 to aitraclng rethiniNJ gre8t tdl•agu•s and in $88king 1¢ maintain a happy and health work1w, th? wy at Ihe $tsrtof2ff23-2tr24 w8$ 3% conDnue to offer staff ben•fits iuch as Fin81 Saigry L(1 Govemtréni Perrtlon Sch8ffl• cy•rnt•d by Torf8•n cnty Borwh CtyJrKil whh AS An employer we pay • 15 2% ctrltritth)rt Fre¢ H¢a#h and WeMtein9 Meml)ershp fof p¥monIc0fttr•CIj lul 8TrJ port tim• co19 ci$¢ounts for alowl01 & b•%r4• Free unwown GerwoLB annual Rlsk marw•ni The Twsiees Conn to ha a duty to thbty ar r•vw kS to whth tharity is •xpcwd and lo ènsure 8PPfopriale controli are in pc• to rnaSon 8sswarK• 4gYAnsi fraud And èrror. The Trustees wJ8lJ thw"r rk marbBggnwt8tr8tegy in 2023-24, ar¥J re9ty thi8 th1Oul 2023-24 ensuring that there 8r¢' Regular Board 8Tr1 assocoteil Board s remvs ol the prirwl roks and unc•rtainii•s that N•port Live may tncount8r. establishnwnt arnl l•iiely of p(thc aThJ k¥oc¢dures in L¥deTtts mibgats any risk5 entifi•d. The impkmentaben of kwoCedU dewgwj mrt¥Ja* ar#J manaptr suth rtsks Ih8y rnateriali58. Page 13
Pwport Live Report Tru5te85 lorthè Year ETrJed 31 March 2024 The Trustees ¢yJnlinue to kyenbfy swJnrfKant ri5k5 tothe tAlre$S A nufter rernain constant and these indude". The develOpnI of Ihe lsure faulity. a$sl81ed de$bJn. bU5rSS plan transitional plary5 that the charty has bxited the Newport Cent, opened the Stabon irbterirn facihty and transitio into new facility withoutieop8rdisirKJ the rall Nvwport LNe ¢h8rity. E88enbal capitsl inbtrn8nl irtts Ihe assets by via thg fun(liThJ nna98nryt agrèeTrnl and associated lezse5. The n••d fcf 8 5UCC8881 planning $tralegy Exttu Team rrB a1 a dtr8$rtt PBthway for gfftgd and lalentsd managers ar ofthe lutuTr. Strat•glc r•port Structure, gernar• and m•n•0•m•nt Governlng docurnenl charity is cr)ntrolk(I by go¥miNJ de<JJYnt. a degd ol Intyl. consti1•$ a linit•d Cryiany, Iimiled by 9uar8nte•. aj defiret1 by the Conwani•s Act 2(K6. R•l•r•nc• and admlnl8tratl¥e d¢tsll• Roglstered Compary nLrnbgr 09323582 (Erylanos and Wales) Ro9l•ler•d Ch•rlty nwnbvr 1162220 Reglstered offlce Ngwport Inlernalional Swtvlll Regional SwmrThry Pool and Tennis C•rthi Newport NP194PA Trustees OWHayh KDWard S E HaIhut- wgn•d 31 M¥th 2024 M J Bull•r KMC P A T11Y R M Tumer J HugS- regi9ned 4 June 2024 P Drewett- aFwinied 21 May 2024 Y For8ey R Bt9um B Fkscla Secretary Martyn Seawo K•y M•n•9•m•nt P•r¥onnBI S Ward- Chitl ExeculNe M Seaward - Director of Fift8 ¥ThJ Rex)urces N Sargeanl- t*rector of Operaiior A Ovey- Director of BlnesS Dovekwient P•yè 14
Report T¥te¢S lorthe Year ÉTrJed 31 March 2024 Audlto Haineswatts Wath LLP. Slatulory 7 Neplune Court Varquard Way Cardiff CF24 SPJ Bankers 8arclay$ Bank p 1_5 St David'5 Way 28 Wothtr)9 street Cardiff. CF10 2¥ ststem•nt ol tr1•. r•ymlbb16tl•• The tnjstees (who are also ts diwtr)rs ol Newjrt L for Ihe wrposes of ¢(npany Iwl are responsib prep8nn9 the R8POrt of Iha Trustsès and the financial ststtrn•nlS in accordaw Lgw and United Kgd0rn Accounting Company Law r•quir•s Ihè Iru$ie•s to pr•pare haotsal stants for•a¢h financial yèarwhith a tnje and lair wièw ol th• •tat• d affairs of ¢hant aTh ol ffjcomiffj resowc8s afid ¥rIaOn ol r•SoUr. indudlng the k)con and expeitur•. of lh• charrt&)k• ¢trfnnY for thèt F•Tr)d kn pT•porHW thos• finarKial statements, Ihe tru5t8es are r•quired to Sew $uitsble •cMuntbng F¢IKaos gnd Ihw aFpty tW) c4rwstenlty'. bseryè Ihe meihL¥Js aNJ princip$ In the Chanty SORP. make iudgefftsnls and eslirnates Ihal are reasonab aTrJ pnthnt., Stsle whelher tyicab accoun11 st8TrJards ha been folly. 8ul to ony motsrial departure$ di100& Bnd explained in the finanaai ststernents, ppare the Iinawal $i8)nts gory ir4pprost• to pr¢Sun that the charitable company will conts.nue in twsmess The Ifustèes arè rt1pon81b fer kwirrfJ prop•r aecthnting rttordl whth ditdtis• wlh r•a8OMt4• 81 arry timé th8 finanaal position cl Ihe charitab company aTrJ lo enable Ihem lo ènsure that the finanoal statements comply with the Cornp8ns Ad Y Org responsibk for Safegud9 lh8 assets of Ihe ¢hontsbk crynp8ny and hon for taking reasonable foi the prgvenlK)n ond del¢¢tson of fra otlr irreguLqnbos. In 80 far 88 the tru$¢ee• ore ww•'. there 15 no rean1 infornation olwhith the ch#b 8j110 are unswAre. and the Irustsg$ have laken all ¥tsps thal IW ought lo ha% ta18Th to m9 lherns9¥s awarg of any ro19n1 411 nform8tson and to establish that lh8 aLJrtor5 a aware of Ihat lOnal.0. Audltord auditors, Haines Watts Walos LLP. Si•bJtory hJ10r$. will proF•) lor r•-¥ppthxnt al the forthcon9 Annual Genera1 Meeliry. lees. ITr&br*I a straleg¢ rewrt. appromed by ol the Ixor¢ GI $te¢s. as the cLYwny (lirgCtor$, .2c.zx ........ and s+aned on Ihe I)r¢.$ by.. Mr K D Ward- TTU8le Page 15
R•port Oft INlopewJent Audilots to the Meml>ers of Opinlon We have audited Ihe financkql SMents of Newpjrt lts'charrt)Je cL¥npanll lor Ihe yeareTrJed 31 March 2024 wh¢h ¢Otnprise the Slalernenl of Finanrial AL#i¥Atses. Ihe Balan StEet. the Cash F&Jw Stslemenl and notes to the financial $laternents. Including a summary of sbjnthcanl aCUnDrwj FoIKies The finanoal reportin9 framework that has been applEd in theirpreparatth 15 appli¢) and Unrted "rj0MUOunlm9 StaTrJards (United Kiwtyn G?rallY AcceFleOAccounling Prac) In our c$)in finanoal $tatemBnts.' give a true and fair of state of t1 chantsble conyanys affaits as at 31 March 2024 and olts incoming SourceS aThY appli¢aiion of $(jrS. indL¥Jiry rts income exp¥hYiture. for the year then ended.. have been propety pr in accordan with Unrted Kwjcm &neralty A(tepied A¢¢ounkng Practy"ce. and have bèen prepared in 8¢wrdance wilh the rwuirennts ofthe Coftyanies Aci 2. Basb5 for oplnlon Vve cornJLfted tsJr audit In %eordanc wrth International Standath OTh Adj IUKI IISA5 IUKII and applicable law. Our responsibililh?5 unor ISe stornlards are fvthtr d8suthd in Ihg Joi10r5, reBponsibilrt+8s for the audit of Ihe fin8n¢ial statements section of our rewt. WÈ a ndrTrt ol chantatyk c<ryany in accordan with the ethical quIrernents Ihal are re¥&nI to our aLYil cl th• finarwl sta1rnts In tre UK, i11j1 Ihe FRC'S Ethical Standard. and we have luifilled our olhèrethiul rsponsit4lrts in Cordan wrth Ihese wwnls that Ihe au¢Srt awdenr we have obtained is sufficient and appropnate lo provlde a basi5 for our wnh)n. Con¢lLMkM rel•¢lbN to goiThJ ¢oneern In audibng th8 finanoal statements, we hove Ihai tsu$te&s' w of Ihe g¢)ry b•$i8 of •ccounting In th• preparation ol the financial ststemonts is apprtpri8te. Bas•S on tho hav• wrtornd. wo kna not wy materi81 unc•rtaintss r•l8kng lo ewnts or corK1rtbns that. indNKlually or cdwvdy. may ust sKJnfficanl dotht on the ¢hantabk conwanys obilty to contsnufr a$ a g¢irg concern for a period of ai l•a51 hvefve months when the finarKial sts1ts a authoriseil Iiy issue Our r•wroits"lils tl resForoibilib"8s ofts hte•s wth resp8d b gtyr4 contm are d•scn'ked in th• reKwant sectSon8 of Ihui r•pJrt. Other Infonnatlon The trusiee5 are re$pon8thi lor Ilkg ether mlmitiffi. ofvr in1omKg eompnBes the iThfmakn IndUd in the Amual Report, olh•r Ihpn t9 fina¥1 sl•temènlJ aThJ our Rewlof¢ho Irwerthnl rtorS thereon Our ownKn Iht finanrAal Stateffnts not COW Ihe olher Information and. •xc4pl to ts extent otherwi explicidy $t8ted in our report. we do noi•xpress any lom of 8s$urantè corKlvstri therwn In Mnwcbon wrth tsjr Irt of ihe financk81 wr mspor111ty 1$ to ed th• oltsf Infomation a, In dolng so. nsider whether the Oihèr infornwiK)n * matenalty Incon$Bi1wIth the financ4al $tamènts Qf our kn¥09e oblain8d In the audit or OtheISe appea to te rnatenally misstated 11 WO enIty such material Incon$k$iencS or apparent malenal mis$iatements. we are required lo detemine w1her this gives nsa b a material miss¢atenI In the financial statennts Ihèmselv8$ 11. based on Ihtr work we have perfonnod. we lUde thai there a m•tenal ThMtat•rnent of this other infomwtlon, w• are required to report thatf¥l. IA have TrothiNJ to repm In re9grd Oplnlon5 on oth•r matters pr•8crlb8d ty IhB Compwi•s Act 2006 In our opinion. based on the woth undertw In course of IhB au(lrt the lnfomab.on given in the Report of the TnJ$tees for tho finaro81 yeaifor whKh lh• finaniial Itaterngnts are prepared con&stentwilh the finan¢rdl st8teTrnis. and Ihg Report oflhe Trusttss hos been prepar&J in 40xrdor wth a1 al requir8ffonts. Alattrs on wlmch wv ave requlre<l to report lry •xceptlon In It light of ts krWe and undetstarn1irJ of the chariiatl# company sTrJ ts en¥ironrr¢rt obtained sn the courje of the audit wè have not ldtn1ffj mai81 rni8$tsiernents m the Report of ts Trustees have nothwYJ to rgpryt i) r•spect dthe folknthrg matterswW the Cyans Act 2Q requir98 us 10 rePrt lo you rf, in our opinK)n adequatè acrxxjnbng TOrdS havè nol teen kepl Lv relunts ad4uale for wr audit ha% ng1 be•n [Ne from br8n¢hes not vi511ed by us, or tht finanaal statnIS a not m agnt wrth the accounbrg record5 aThJ rebJm5". C certain disclosures of trlee$. remuneTatK)n 5peufpd by I are not rn•ae.' L we ha¥e not r•ceNe(l al the infom)ation and explanatThis we requirp for Qur audi( Pw16
R•wi olth• IwwJ8peThJent Auditots to th¢ Mmbers of Reskx)nslbllltl8s of trle88 As explained more fully In ts StaftniofTnJstee5' Resps1.18s, t1 trustees (who a alsothe directors of the charitable cornpany for Ihepurposesofcoryany lawl a responsiblefuthepTpparabM ofthefin8nu81 statements ar forbeing satisfied that they give a tnje and fairvew. and for$uch iniemal Contr as the trustees determire 1$ nerwary to enablethe pfyparabon of finanual stat¢rynts thai are Iree Irom m8terial M5staTnt. whetsr due w) fra or•rror. In preparir& the financial statements. the IrLtstee$ a pOnSO f¢r35S•5$ThJ the Charitab corrF8ny'& ability to rA)nbnue as a going conc8m. disdosiw. as apphcable, matters lated 10 goirwj concern usn9 th8 gng conrn tsa$i$ ofaccounliry un88 the trustees eth&r to uhdate ts chBril2bb oJnp8ny or ¢0 cease cgeratio. orha%e no reali%tic aii•rnative but lo do so. Our rtspwlb1llls for tho altt cl the fina181 $t•mert• Our obi8elws ar¢ lo obiain aab assuran¢• abwt whether the fmancial Staleftnts as a whole afe free from matèrial misstalemenl, whether due to fraud Qf effof. and to true a Rewrt ol the Ind8pendonl Audrtors that Inclucs our opinion. Reasonabè assurartts is a hKJh k¥el ol zssurance, bul nol 8 9uarantee thal an audrt conthcled in accordance with ISAS IUKI will a?y$ detect a material mwtateThntwhen ilexLsts Misst8thents can artse fromfraud orerror and 8re conSk¥er8d material rf, individually or in the 8ggr&Jale. tsy coubJ Nswabty b• •xpxt•d 10 influen lh8 d¢rysior ol u8er6 tak•n on Ihe basis ofth88e financ1 ststements OurplonniThJ procedures Il r•tyIBtoryfrarrv[k$ to the OFer8btr)$ and fin8nual Statements or Ihe rA%npany. Thtss• rewewed inlernalty with the audrt am indudirg rebvant Iv$try eXpernCe and eXCtatIOnS as wem as ext•malty wth ihe cknenl ManagenI The kgy 8nd re9ul8bon$ w• consba•rtrd in this context were th& UK Compans Aci 2tth, Chanlvas SORP IFRS 1021 Axwntm9 Rew)rtINJ by Chanliè5. St8t8rnent of R8commenOgd Practice aFFluble to charitw pr¢panng 1r a19 in ac&ythfice wrth Ihe Financkgl Rawts"ro SlaTrJard Appli¢&b in the UK an(1 RepLl ol Iretanrf. UK CWP IFRS 1021 r•ltrf8nlt&Y loglotiw. Once enIrfd. we assoss IM risks of maièrial ffli5slalenpnts ITh re10n to Ihe l•ws ar•a r•guthtths. irr•gul8rlt$, including fraud adjusi our lesiirJ Bcccfdingty. Our alart prxedures #Kkjde". Discu55iThJ with Tru$kes m8na9wnenl whth weas of tl businèss telpvg lo be rtwre Ju$c4ptsbk to frwd, 8TrJ whether tY have any or suswtr) of fraudulent activ$.. Obtainifig an urnJèrstAndin9 of Il key ccffltrols put In to Miess risks thnb'fi•d, 818è8sing th? effectivenes$ Of Ihtss• and dKscussing h(N4 Ihe5e are Mamts1 an¢ ffK)niloreé Iniemlty. Ass•ss¢ng th• of man•3pmenl rrIa? oThJ re¥iv and tssi•ig oljoumal •nthtt mdo into the ac£ountsng system., Chaingr$ 855umplior6 8ndIgernts m•Je ty cthywny in rdation b th• gnKOnt ¥¢counlirvJ estirtKgtes employed m the preparaiion of Ihè financial siatèments. scussing with Twste•5 aTrJ Management the leg81 aTrJ rylalory ob1vj¥tK ol 11$1 wholr they have any kntr•9t or su$pKion of non c£4mpliae Despite thg ¥udrt bw"rMJ tyanned and ¢Ilted in 8ccothnc• wkh ISNts IUKI there rem81r an una¥vthbb n$k th•t material misslaternents in th? financal siamerts may not t doteded lry to inherenl lrnilabons of the a11, and that by their vèry natrj, any such Insta88 of fraLN4 tr in•gukriti& Iety Ine c4lusK)n. forgery. Intentional misfepresenlation, or the overnde of intemal ¢ontrol5. A fUrtr doscDpiK)n of Jr TrspNsts"lrt*s fu Ihe audit of fv fmanoal $laiem•nts $ ItKatsd on the Finanaal RepothrvJ Counul's Web& at w¥vw.frc org.ukJaudilorsrespx$bIts$ Tho descnpbon WOM part ol our Rwrt of th8 Indepenolent Audrtols. Page 17
Rep)rt of the lThkpendentAudltorn to the M8mbers of Use ot our rtport This report Is m $(Ady tr) Iho charitab corrpanys nETr)ers. as a tyyty. in accordanc8 wilh Chapter 3 of Part 16 of the Cornpan Act 20(K (Xjr auttit woth has undertaken 50 Ihal we might sta kn the tharitabk comp8nYs trembers th058 matters we are required lo $tsie 10 them an auJilor5' report arrfl for no OlFr putW5e To the lIest extent rnitted by law, wedo not&cept orassume re5ponstslty t08rryoneother the tharitab comp8ny aThJ the thant8& company¥ nberS as a y. for our audrt work. for thts rwrt, or for the OPInS we ha¥e forn Victona Carter Isenior SlattoryAudiIor1 for and on of Haines Watts Wak& LLP. StatutyryAL¥Jrtors 7 Neptune Court Varyuard Way Cardiff CF24 5PJ Page 18
Statement of Fin4n¢ial Activtties (klPIng an Income and Expenditu A¢¢wntl forthe Year EThl8d 31 Mat¢h 2024 2024 Total fu 2023 Total fund5 as restated Urnestri¢tod R8sthcted Inc¢Nn• and •ndowmerts from Donations and 98¢ 2.trJ7,582 2.097,582 1,306.574 Charltsble adlvlti•s Chanlable A¢iwibe$ 7.893.389 8,r24,223 9.171,$97 Invesfvnt ineome 276.809 276.809 85.422 Totsl 10.267.7 8X).834 11 09B614 10,563 $93 Expenditure on Charltable ?ct4vlll Chantabl&Athilh•S 10.269.1S9 878.162 11 147.321 12062 $42 NET INCOMEIIEXPENDITUREI 11.3791 147.3281 148.7071 11,498,949) Olh•r r•¢ollnbed gaSww arKI Io•w• Aciuari819ain on defir tewfil pension Gdh 9,432,C#)o Net mowmnt in fvnds 11.3791 147,3281 148.7071 7,933,051 R•¢onclllatlon of fund& Total fund5 brought foTh¥ard 2.359.985 172.664 2.532.869 1S,400.1821 Totsl fund• 1• I•artI 2.358.ec6 125,556 2.484,182 2.532,889 Conllbwlng OP•Mkn All Inctsn• and #xpeTrJiture h?$ ¥rMn frcffi cont*iu4wJ Th8 note5 fomi port ol Ihese finaThial 518ternents Page 19
Bolan¢• She8t 31 March 2024 2024 Total funds 2023 Totsl n(ts as reststed Umlstrtet Resffictgd fun funds Flxed 889•ts Tarqble assets 13 195.568 195.568 215,3 Current as8•ts Stecks Debtors Cash al bank and in haTrJ 14 15 30,261) 1,294,e62 3.434,470 33,333 1,186.e61 3 377.656 1,294.e62 3.8.914 125.556 4.633.866 125.5&3 4,759,422 4.597.650 Crgdltor8 Arnovnts fallin9 due With Or ye8r 16 2.470,B281 12.470.828) 12,280.0811 125.5 2 288.594 2.317.%9 Total 4M•ts1oa# ¢Urrgnt118bbl 2.358.f 12S,5&8 2.484.182 2,532.9 NET ASSETS Fund8 Unffjslrthd ld RestCted luTra5 18 2.358,8C8 125,558 2.359.985 172.8e4 Total lund• 2.532.869 The finanual Slatenntso approv•J by the Board dTnMo8and for •ian . ! i1.12/.LU..I wwg $yned tfi i¢S b•ha¢f by.. .and Mr K D Ward. Tw81•• The notesform part Iwfmanoal staièm8nls Page 20
Cash Flow Stat¢ment forthe Year Ethd 31 March 2024 2024 2023 as reslated cash flo Ircffi oper¥tlNJ xtlvlt Cash gBner8tsd from opernbms 140.3711 716.608 Nel Cash ld •nyptha by operabrrfj aLwti8 140.371 716.608 C•5h 110 tY(Mn Inv•stlng activltl89 Purchase ol iangibkn fixed 0$8¢ts Rents recew Interesi rec•N• 179.6231 213.5 1100,0001 e8,168 17,254 N•t cash provide(l tyllus•d i[wtry ocb"¥itses 197.185 14,5781 Change In ¢ash and c••h •qulval•nts In the r•p)rtlng p¢rlod Cosh and cash 8quival•n¢s atth• glnnln9 of the roportlng wrfod .814 702,030 2 675,62e Cash and ¢o•h •gulvl•nts at I0nd of th• r•p)rtlng perhid The notes fomi partof these finaroal $btemeniS Page 21
Notes w the Cash FlvSlatemtrnt forth8 Y8ar Ek¥led 31 IA¥ch 2024 Rec¢)111410n of n8t lexpeThlttur¢Vkn¢¢mi• to net cash Ikn¥trwi ¢)poRting actlv6tkns 2024 2023 r8stated N6t{oxF•ndlturen¢ornO lorthe r•portin9 pfjrfod las perthe Stat•mert of Financlal AcUvltlM) Adjustments lor.. Depreciabon clrg8S Losse5 Cn In¥eslm8nts Inst recewj Rent5 re1¥1 Chlfefence pensicm Cha aTrJ cijnl Ccrease In $locks (Incas6ydecr8a5e in debtor• In¢aSe in credito 148.7071 10.337,051 99.3S5 76.685 111.836.0001 117.2541 168.1681 1.462.ts)0 6.660 737.881 17.773 163,3021 1213.S061 3,043 1108,00fj1 1,747 Nqt cash Iw•d Invwldod by ow•Wo 140 371 716.608 Ar•tysls ol ¢hang85 In ngt lun At 1A.23 ¢••h Ibow At 31.3.24 Nèt cuh Calh al n and in hd S6 814 56 814 Tot•1 3.377.656 56 814 3 434 470 The notes lomi part ol ihvse finarK4al Sts1ts Pag8 22
Newport Lfjv¢ Ncts5 to the Finan¢ial Statements for Year ErKled 31 March 2024 A¢cour)tlng pollcl8s 8a$L8 ol pr•pariryJ the finarKlal $tstsm8nts The financial slateffnts oftr ChaFItab (x)nyany, which i5 a PlIC trnefilenttty under FRS 102. have been pr8P8red in accordance with the Charths SORP IFRS 1021 'Ac¢ountyng and RepoFbr& by Charities. Stètemenl ef RecomnN1ed Pracbce aFpliCae to charitie5 ppang Iheir a¢¢oun15 in xcordanr£ wrth IF Financial Reporting Standard appliCae in the UK and Republic of Irdand IFRS 1021 leffecti¥e 1 January 20191,. FinancJ8I Reporting Standard 102'The Financ1 Reportir#J StarK1ard appltsble in LIK and Republic ol lTrland' the Companie8Act 26. The fin8rKial ststemtrnts have teen ppared vrhY8r the hk81orKal cost eonvention. Income l incoTh is fycoJnised in the Ststennl of Finarial Acb"wibe$ oncs charity has •nliJemen¢ to the funds, it i¥ probable that th& inco will te We and the anUnt c)n be mea5ur•J relatly sh donBlion$ are rec¢yaThs•d on ¢Bcept 01 donations Br8 rBccgThffjed ¢0 the charity h88 mtified of th8 donalh?n. unkss perfomaThc conditn$ requir• dulerral ofthg8rN)unt. Intm tsx recOrabb In r•LBtion to don•tKins r8c8Ned undef Gift or deeds of covenani i% re¢oanKsed al ts tme of don8tKfi. Inccrn frcm the gornnnI aThJ oth•r granls. or 9r¥nts. Is r•eegnwl when tho tharilab company h8s ¢nlilment iothe hJnd5, any pgrtorftNgnce ctlvJation$ atta¢W to th•grants haw been mBt. it 18 probaue Ihat the incorw WIN be feewod and th8 am01 can b• rsre lilY and not deferred Managermnt f88 InCe is r•CognO um& baiii. Inccvw recoi%d in Jvan(• 014 the8ln¢al perfonnanc¢. evertdat•, orprowsw ofan0t•r spcrfd service. Induding mb•rship SSCriptio1. * deferned thg criteria for recc#3nits"on •re rnei Inrnt0n funds on d•P.1 irlduded mr8t1•and fv 0ftOI can te nw8ured reli>ty by tt chadty. thi$ * norrnalty w)on ol Ihe inw•st or F•yabki by th• barth. Oonatsd professial 58rvKes. dwaled asMts. and facilitss recognwl 8$ Inc4M whgn the Charitable company has control over the Item, any eoThYrticffls 85$0¢wknd with Itr &Jnated rtom have b•8n the reujipl of •conomic nlI from tm by t charitlg cryny of PrOb thal Kwomic blfil can te 8$ur•d rekobly On receyt. donad pr(4858iono1 1¥•6. ¢knad 8S8¢ts. a1 dc1• lathlts are recognis•d cffj ba$ls ol th• value of t gfft to th• tharItab corygny whth is th• arrKstth¥ chantab compary would have bo8n Wiln9 to pay to obiain sèNces or 1b¢S of eQWant ecLwmi¢ berfit on the cFen markel For donated servi$ 8nd donated latililk5, a corrwon#irKJ amount 1$ tsn rwTh•ed in •xpendrturg in Ihe of 1p1 Don8t•d #i$et6 ¥ <reciated wr Iifeol aM•i. Exp•ndrtur• Lk8ts1rt$ aro r•eognwJ a5 expendrture 8$ soon a5 galor constructi¥e obl9alion ¢xmmiltin9 the charity 10 that exp•ndilure, Il is probab Ihai a transfer cleconwK berfits wll be required In Settnt and the gmouniol the otyl¥abon can be faSured lIaty Ewnth'bjre is xcwnted for M an ac£¥uab and has been da$$10 under headings Ihol a9994t0 all cosl rdated 10 the ¢awory. EXFrr? on ¢hori11• athAts5 Ir£1 al r•th'i¥J io the fvrlheranc• of the chanty'$ otyectivos As slated in the trwtees, fewi and their assocoteo support ccsts. lff•eovèVAT is ch8rgwd as 8 awl the aavity frwhith the exFendiiwe was incurrgd. chanlabl¢ company has onty ¢)n# chartst actiw aTrJ Ihwefwe 11 $urport and govemance costs hav8 been allocated t¢ lh6 ac¢Nty. Suppm costs have bew 8lkncoW betsttn tr)vernartt ¢ts ¥nd oth•r 5UFPXt oJ$ts Gov•mIn costs comprise all co$ts InvclwrvJ public aCcoUnbIlty of Ihe chanlabkcompany and its comp1k9n with regulab.on and good practi Thtsè costs inc1le costs rdaiirMJ to ststLrtory audit aryj legal fees togelher wrth an aprtIOnMent of overh8ad and support costs. Tangible fixed assets Cpre¢M?bon is prov*Jed at the annual in order towrik off èath asset over its e$tThaled useful Ille. Pa9e 23 conb'nued
Notes to the Stai•nenrs . conti1x1 forthe Year ETrJ8d 31 March 2024 Ac¢ourfNJ polides. con1#d Tanglble lfjx•d assots DePtKIn is c8laJlated so a$ 10 wite off the ry61 of an asgeL less ts estunatsd rn5hlual v8lu8, o¥er Ihe useful econfmnic lrfe of that asset as I¢41$". lrnprovem8nts to prcpety Equip[nI 24 yeats stravJhl li 1-5 y8ar5 Strnyht IiThe Tan9ible fixed assets indLth donated assets which a r•tts3nised cn th8 basis of the Val ol ts gift 10 the ¢haThtab comparry whh Is the amount the ChanIab conwany wouky have irtn willing to pay t¢ obtain $ervrs or lacilili?5 of t•0 c¢4nmthel. Stocks Stocks are valued at tr ol ts)si aThJ Mi value. after m•kirs a11ty48fK for obsdele •rnl $low rn9 items. Taxation As 8 regtered chanty, Nvp)rt Live o 10 th• ex8r1ptn from tsxatw in resp•a of ine4ma and capital gains r•c8wedwrthin s8Ction$478489 of the Coffjovaiv)n Tax Act 20108ThJ section 256 of T8x8lk)n ofChBrBbb Galns Ad 1992 10 extent thai th•s• ar• èppld lo ts ch0filabkobjts purpos•s onty Fund a¢ctyJntbwwJ Unr•stri¢i•d fuThts cBn t• in ocry)rd•nce wilh th• th8r7thb ¥1 the dyxre1l ol the tNst•ès. Reslrttsd fun#5 onty to us•d forpartKUlarrestrI purposes 1h1n the ttyts olthècharty. ReBtn1oTrI 8rise when ¥pecild by donor or when furhY$ ar# rn8d lor parts0jr reslncd puwws Further ex•&t of lh• n4lur• arKI purpxe of •Kh furKI is IndL#•J li lh• to IhB fmanaol ¥talennIs. Hlr• purchaafr ar¥J 1oaln9¢ommllm•nt• RentB p8h1 under l•Mu •r• charyd tts the Stsbwt of Finan1 AcbvlKs on a straKJhl line b8$i$ ovgr Ihg 00 of ase. coth and oth•r FXtrfeUrert bgn•ftts P4ymnts tOdlned contrwkn r•twtRnt beneffl sth•m•s ar• (gpd they 11 du•. Rèiiremenl befitS lo empWe$ of the ¢anIab coryany arn provJed by the LLul Go¥ernment Pènsion Sch6 (LGPS'I Thi$ a deTin&J b8Mfil$ChWM and the assets we hekl separatety from those of IhB caritabk mpanY. A defined beffi1 plan defi$ I pensKfj t4nefrtlhe emFloyee will rec•N•on r•bmmnL ususl dyn¢ent upon several factors indudirrfj 4e. lh of servK•. and remUrat)n ccot of proVry t¢nefil$ und&r d•fjr•a bènèfrt F48n5 vi d8terringJ separatety for •ach plw usir¥J thg projected uniterèdil mtr1d, and actuawl thK•. T ch8ThJe in the net defid benefit Iwblity 8Ing frLYn enwoyee servtt during the yeai Is recLyni$ed a$ an empbyfs tost. cc6t of plan 1ntr0dtscts. tenefil thanges. settiernènts, and curt2ilments a rwnisèd as )currtd. ThB r1 inleresl element * determined by muii¢Jly¥)g the defined befil liabihty by the dis¢ouni r8le, t8king Into account any changes in nei defined ts8fit liakn.lty ¢JJnrMJ the pe 0$ a Ul1 of contribub'on aThJ benefit payrwts The net Interest is r•togn*td in (ne1(eX[nUtyreI for the year. Remea$urtm•nt ¢hzr#J85 cornprBe a¢luaThal gair6 aTr1 b)s$, the effeciof the asset lI1j and the tuM on th8 rt defird tenefil lialty exduding amounts iu0d in net inlerest. These are re¢ognised Immediattrly in other r8cognised gair% los in the in they C£r and are r)1 redassrfied to incomèiiexpeTrJiturel In subsequent Perd$ Pw24 ¢onb'nued...
Pknt•s to Fir131 Stsl•merts. contlThd forthe Year Eryjed 31 March 2024 Accounknng wlicies- ¢onttrn Pension costs and other pc6t.tyllr¢ment benefits net Jefin benefft 10 asset or Ikibility In Ihe balance sheet ccfflpws the total for each plan of the present Value orthe thfined berfil Oblatn Iijsing a discount rate based en hgh quality corporate bcfidsl, less It frair value of plgn assets oul of whKh the C>108tn$ a its seld dIreY Fair value 15 base& on rnarkel pn(£ 1nlotrnatn, In the Case ofqucled s8ojr1l Is publL%W P The value of a nei pension tenefil a$$et is limited lo the arrK)unl that rnay be re(x)ved eithw Ihrc4b3h rgdu¢4(1 (x)ntntxJbon5 or agre&J refu1$ Irom the Scne. Donatlon• ¥nd1•g•cI 2024 2023 a5 restated Donalv) 2 097.582 Imisstmont Incom• 2024 2023 r•statsd Ren Dwsrt account tert 213.507 63.302 88,168 276 809 85 422 IrKryn• Irom chwIts acllvttl 2024 2023 r88tatgd GrBnts 0ration ol $port, ur•. ar cultural actsvil Manwent l••s 1.258.826 1,500,076 Chantat4e Acbv 5,521.357 5.490,025 2 181496 .724.223 9171.597 Grants r•cMd, iThduded fft t abm, #rn a5 folbx$.' 2024 2023 r¢stat•d Sport Wath Corè Pregram Welsh Governent Gwenl Office of Ihe Police Ctim• ComrriwiLwr Arts Counci5 for Wa$ Federat of DBabilty Sw)rtW8 Street Garns Positive Futures. Oth•r Alliance ol SpDrt UK Youlh Council NCC. Sumrrr of Fun & Ihlntertl IAWkbw"r Sport Wa5 Oth SPF- Cymru Veb Cup SPF- slati Gym 435,3S1 435.351 384.785 181.000 194.961 18.763 6.000 90.485 33.SC 15.750 139.481 181,0 215.572 15.OLX) 14.239 20.0 Carried forward 1.031.162 7,$00.076 P•ae 25 contsnue(l...
Not•sto th? Financlal Statem8nts.contlThd forthe Y•ar ETrJed 31 Mar¢h 2024 In¢(m• ITc¥n charltstA¢ a¢llvitits. continLd 2024 2023 as restat•d Brought foard Sport$ Developrynt Fool Povety Other Big sPh 1.031.162 202,114 15,OC() 4.175 e.375 1.500.076 1.2,626 1.500,076 Charltabl• a¢¥vlU•s ¢o¥ts Dlr•¢t Cosls18•• nots 61 5upwt co•ts18 noi• 71 Total• Charilabkn 4tNil*i 8.652.143 2,495.178 11 147,321 Dlrnct co•t• ol ¢h•rftatkn •c¢lv 2024 2023 •• re$tst•d Staff cosls C051 of$8 and P8rtnor ty9afMsabon rtsts Rersl NNOR Light and h¢8t Water and 8ewa9e cost8 Buihling maintenanc• Cc41 ol goc4Js fof r•sa Other ¢o$ts Dopr8¢4ai•Jn 4,750.070 799.997 117.515 697.650 27.820 1,484.952 84.532 330.073 2.179 6,250.630 834.174 142.940 650.091 72.745 739,549 39,310 548,108 248,946 4,057 76 864 8 652 143 9 607 214 Support C1$ ¢osts Tolal• Ch•ritsbk7 ActNth$ 2.485.543 9.63$ 2 495.178 Page 26 conbnued...
P48ryrt Live Notes to thè FinawKial statern. cortlrwe forthe Year 31 IAarch 2024 Support Costs. contiThd Supwt Costs, in arB as fr4rr5." Oth•r 2024 2023 as re&tsted Totsl actlviti85 CrIblO A¢U¥ltles Wage$ Social security PensKns Premises and Owrational costs Admintstraiion Markeiiry 8¢fverb"wrvd ,759 97,945 147,260 1,069.410 198,513 308,957 598,922 271,525 273.382 578.725 213.408 2.485 543 2 447.327 2024 2023 as r85tat•d Totsl •ctlvltl Charlt¥bl• Audito, r•murtrabon 81 8n(I Irustse ¢xp8r 8,675 7.800 201 9.635 N8t Incomrf•xp•ndltur•l l incom91l•xpenthtuiei Is stsled ter ¢hwgirW(ttoditing1." 2024 2023 Auditors, r•muner•tsoTh C)epreaation. ownèd assels Operatsng leases 8.675 99.352 7.800 76.e65 TnNtees' uratIOn arn1 b•n•llts There wwe no trusts85' r•mura LY tenefts for th• yèar •ed 31 2024 w for the year oThaed 31 March 2023. Page 27 Ctsnnd...
for1 Y#r EryJ8d 31 March 2024 Trustees, remurnratlon awKI be1$- cordin Trustee5' 8xpens•s Boar¢1 and Iruste8 9xpens in the year kntaled £{2023.. £2011. No otsr trusleo èxpens8s orberfil$ arose dunng ¢ year. io. 2024 2023 Wages sa.88 Social Security C¢sts Other Pert$ Costs 4.943.148 377,134 640.753 4,681.724 350.720 2,119689 5,961.035 7.132 133 The averw monlhty numbw of•nptyges durirJ the ye8rw•s as I.. 2024 2023 a• restai•d 297 A%ragg nwnb•r olenployaes 290 numt•f of•mty0Ye whoso ewoyee t•n•fits lexdwjry •nwby8f perffjbx costs) 8xc¢•Je(l £W.000 w¥J.' 2024 2023 •• restst•d £e0,0- £70.C#)O £70,001 . £80.c £80,001 - t?.c0 £W,001 . £100,000 £100.1 - £110,CCQ £120.001 . £130.(to Key Manag•m•nt Porno1 The key managéntPerSonn0Ioftheth9fftty ore d•tsik•J m IheTrust••s report The1010Mpk>Yee tenefits lintludln9 salary. eMPyer'S nabon81 Insuranc•. and l>enefits in kindl of Ihe key man4em8nt personnel of the charity were £416.25412023. £403.8191 11. Ccffiparatlves for thB slatomwt of fimnclal •cllvil Urrntrlctwl fundB R•%trlcted fund TotAI fundJ • reslated Inc<>me and endovmierts from DatiOnS and 9a¢S 1.X6.574 1.306.574 Charltsble •aivitlo8 Chaftiab Aclwrt*s 7.n4.919 1,436.678 .171,597 Inwsthnl inci Tolal 9126915 1436 878 lo.5.593 Page 28 conts'nued...
N8rylrt Uve P&Jte8 io t FinKi Stsiwnents. conlltxrfd forth? Yèar Ernled 31 lAa 2024 11. Uwwegtrld•d R8strlct•d furrfts Total funds as restated exp8TrJlturn on Charltabkn a¢tlviti•s Cttantrb AclNibe$ 10.529.5e 12 ()2.542 Net 1n$ OA I)51[rnts 9.432.r))O 9.432.000 NET INCOAIEI(EXPENDITURE} 8.029.355 198.3041 7.933,051 li¢¢onclliatltsn of funds Total fund5 brnht loThYard 15.669.370) 269.188 15,400.1821 Tot•1 lunds carrl•dlor4vard 172884 2.532.869 12. Prlor ymr adlu4tmgn¢ A prior year &IIugtr0onl has t4en m81h to Tr5trict the wrt5)n awl in lth• eomparalive bar $h¥t lo £nll, as il is not conSerd fecov•rable Ihrough ethèr refund$ LY reduced fitture ¢onirtJub'cns In the p&n. Tirvjlblg flx•d alts 13. Equlpm•nt Tol81• C08t Al 1 Apnl 2023 Athlilions 51.3 748.237 79.620 799.597 79.620 At 31 March 2024 827.857 D•pr•¢ltlon Al 1 Apnl 2023 Chgr9e for #r 59),699 90.1SS 584,297 99,352 9,197 At 31 Wrch 24 42.79$ N•t book valu¢ At 31 March 2024 8S85 187.003 195568 At 31 March 2023 215300 P•Je 29 con"nued...
Nths tot1 FinKial Statem8rts- contIrd lorthe Yr Erxw 31 March 2024 14. Strks 2024 2023 as re5ts1ed Fin$h&l 9¢xvJs & gotss lor 50 30.2 33.333 1S. Debtors: amount• lalllThJ wlthln ye 2024 2023 as restslod Tr8d8 debtors Other debtors PrepaYntS and irw gC6,907 11,750 376,005 527,543 11,750 647 368 1,294.662 1.186.661 16. Crodltors: wnount• f•lllr•J y•ar 2024 2023 a• rfrstst•d Trade er•drtors SocKal sècurty Énd otr t&¥es Accrual$ and deferred Incor 85.826 4L.586 1,982.416 95.510 125.413 2 059.158 2,470.828 2.280 081 Ac¢nAls and defeTh8d IlIO d8ferr•d int4m• ¢4MWl[¥J ol.. M•mb•rshlpJ Id In advane• Total £S51.124 1£551.1241 £798.927 Balanc¢ as 8131 March 2023 unts reased In Ihe year unts defe¢¢ £551.124 1£551,1241 £708.927 Balanc as a131 March 21r24 £798.927 £798 927 17. L•aslryJ a9r••m•nts nwwm ase pwrrents under rwncdl•t4• e¢•atirvJ 1811 dug a$ 2024 2023 •s r85tated Wlhin cne year Beeen ar 8nd fi¥* years 62,672 1c#) orij 100.688 162.672 162 672 263 360 Page 30 onb"nued...
Notes tothe Fina1¥1 Stateme. contlrw&d fly Y•ar EwKled 31 Mar¢h 202 18. Movement In fund5 Trnnsfers At 31.3.24 At 1.4.23 in fuThJs lurK15 Unr88trl¢t•d lunds General fvrnl Business re-erwJin8enng l¢JeswJnat•dl Slruclufal rrgan8tln IdEsvJnatedl Maintenance 8n¢ de¥ek)pDl of the 9stste {deSnated) Fixed asset furpj Ides¥Thalgdl 876.839 154,IX 1,¢4) 11.3791 37,357 912,817 154,000 100,000 1.031.fJ)7 197,539 126.8221 1,004,785 187.004 2.359.985 11.3791 R85trict8d fundg A¢ (Sound Sy5t•rnl Inlegr8led Swiwffjir¥J p¥. Equipment F4mi11ès Fir51 Act Cornmunths Hèallhy an(1 Aclfft Fthys 2.358.6C¢ 15.3CQ 15.303 21.178 20.OS 104,914 21.176 120.0981 115.8371 11.393 89.077 172.884 47.328 12$ 556 TOTAL FUNOS 48.707 2.484 162 Nt movThnl in fvnth. Inca1 8r• 88 In¢tynlng R•BOU expond•d Movemont In fund• Unr•strlcted fun( General fuTr# 10.267.780 10.289.159) 11,3791 Rè8trlct•¢ lund• Families Fi1 Aciive Comrnunitses Heallhy and Athve Fur1 Finance 8 Nthiin. Sport IC¢Ynm Chest) Finance & Nthin- Frèe SwTh Theat Sxeo Posrtive Fuluos Stmei GaThs Poli Crirr* CLmmffjsion 120.0981 129.3371 111.3931 120,0981 115,8371 111,3931 13.51x1 3,812 92.8)) 215,572 179,550 130,800 13,750 181.L 13,8121 192,8501 1215.5721 1179.5501 1130,8001 113,7501 181 OLM)) 830 834 678.162 47.328 TOTAL FUNOS 11 147321 Page 31 contsnued. .
Not85 tothe Flnan¢l¥ Statements. contild fortho Yar ErKl8d 31 Mar¢h 2024 18. Mov•mont in funds- ¢rxinuod ComratiVeS for movement In lund5 Transfers At 31.3.23 At 1.4.22 In fund$ fund5 Unrestrl¢t¢d funds General lund 8usiness ren9ineenng Id8svJn8tedl Structural r&ofg8nw1ft IdesKJnatedl Maintenance aTrJ devewwnl ofthe èstat8 Idèsunatedl Fixed asset lund Idenadl 17,0S0.6851 154.1 1C().000 8.029,355 1101.8311 876.839 154.000 100,000 69.299 32.532 1,031,807 197.539 165.th)7 R••trl¢t•d funds ACW (Sound Sy$ieml Inlegraled Swift¥niNJ Prtwrr¢r¢. Equipr1 Families First tive Communit$ Healthy and Acti¥ Funas ACW- Dance Studio Ca¢al FuThJ Sport Wales. Danc• Caprtal 15.869.3701 8.029.355 2.359.985 15,303 1S,303 21.176 21.176 20,098 104,914 11,393 104,914 11.393 150.OCDI 172,884 TOTAL FUNDS 5.400.182 7.933 054 2 532 869 P•3e 32 eontinued...
Nvport Uv• P&Xe8 to thk FirbwKia Stat8ments.continued forth8 Year Ed 31 March 2024 18. Movemont In Iw)ds. continued ComparatNe net lurth, Ih8 Zt¢)¥e we as Incoming Rgsouvc88 Gain$ and losses Movemont In funds Unreslrlcled fvnd• G¢rral 9.126.915 I10.529.) 9.432.C#)O 8,029.355 Rostrlct•d ld Families First Acbve Comrnuni Heallhy ond Actwe Fund5 Financ & Adftn- Sport ICLynm Chesti Finance & F SwimPth41istrab Theaire 5x80 PosrtN? Fulur•s Str8el Games PolKe Cnft CtffimM8i ACW- Dan Sludio Capiial Fufyj Sport Wales- Dance Sbjdio Captsl Fwdmg NCC Youlh Couwl Fdry Disability Sport NCC- ImnrISrThr Fundir 226.C#)) 13.SC#) 238.433 1>)5,9tr21 113.5(M)I 1227.0401 20,098 11,393 3,812 92,8 194.£61 207.889 130.800 13.79) 181.000 13.8121 192.8501 1194.9611 1207.8891 1130.8C()I I13.71) 1181.OC()I 150,OCrf)I 177 7951 115,7501 118,7631 99.170 150,0001 177,7951 15.7 18.783 1.436.678 1.532.982 96.304 TOTAL FUNDS 12.Cfj2.5421 9.432.CW 7 933 051 Aturrnnt ye¥r 12 monih prJr year 12 rIKthi cry1 as fokn••. Tr•n8l•r• mov•merrt In lynd• At 31.3.24 Al 1.4.22 funds Unr8•trl¢tod lundi General lund Business r•-èrJinegnng Idesigna18dl Struciural re-organk88bon l¢s%nai&Jl Maint•nan and ol ts esta1• Idesynatedl Fixed asset ld Idesb3r*dl 17.050.6851 154.C#JO 1.000 8.027.978 164.4741 912,817 154,000 loo,0 42,477 1.004,785 15,669.3701 8.027,976 R•strl¢te(I fw ACMI (Sound System) Integrated SwmmirvJ PrOgra- Equipment Active comrnUn4g ACW- Dance Sbjdio C•tal FuTrJ Sport Wales- Oance Studio Capital FwNIi)p 2,358.606 15,3CQ 15.303 21,176 104.914 21.176 89.077 115.8371 150.OCiII 269.188 143.632 125.556 TOTAL FUNDS 2 484 162 Page 33 eontinued...
Not•s to th8 FInal¥l stai9nts.¢0ntIxd
forthe Yèar 31 March 2024
18.
Alov¢m•nt in fuThJ8. eorrtlnued
A current al 12 mcffilh$ prw)r >tar 12 rnnths c(m)rnd net In fun
forthe Year 31 Ilarth 2024 18. Movement In fwK15. corrttnuod Transfers fvnds Transf8 With unreslncted fvnds have tsken place yearfO11ng a revw of the deswnsied unra%tri¢ted funding for the mainlenance aThJ devek)wnt of ts eslate. as well as wJab"rvJ Ihe nei valvtr of charty's equipftni (see fLKed asset nots). 19. Employ•• beneflt obllgalo In•d 88nefft Pensfion S¢h•m• The chanty Partlp8¢e$ in th• Gr•atsf Qgnt (Y¢y1¥> p•n5hJn sthrne. li a d•fin•d b8ngfrt scheme bastrj on final pensonabk 5akry. Kèy As5PIlorO 2024 % Fer annum 2023 Discouni Rate Expeetsd rate of IreaSe of in payrrnnt Expected rate of salary fftcreases % Férannum 4.75 295 3.45 275 3.25 Mortallty A8uho10 2024 Lrf• 2023 Life expectancy lyr81 Retiring Ma$ 2024 Rdiring FernaS 2024 Re¢inTrg 2044 Rétinng Femal¢$ 2044 (yrtl 18 23 21 24 18 23 21 25 Amounts r•eognled In th? wofft •rrtl lo• Ke1. 2024 2023 Current o¢r• cost 724.C 145.OD) 1,879,OJO Net IntW•st dtfinad b8n&fit1rt4ityllass8tl 235.000 Totsi c• 2114QJO Amounis takèn to othr¢(#mprnh•Mlv• Incom•: 2024 2023 Actual reium on scherrÉ assets Lè55". C8kul8ted Intere$1 eknTnt 12.W,LWI 795.0(K) 64.00) Page 35 conbnued...
Notss tot1 FinKial Statem¢nls-c0rtirnd forthe Y8ar Etxled 31 March 2024 19. Employ¢• benèfft olAlgatiors. ¢ontlnu•d Return on s¢r assets eX1rj inte1 irttrfne Actuarial chaThJes relaw to oNyb"¢n5 11,265.(Wl I956.(1) 527.0(X) 112,363,000) Total costs1114)Mol 2,221.fKA)I 11 836,0) The tsnts included in STr1 arwMJ from Ihe c&lvJgts"on& in resF¢d of defin8d benefit pkns ar8 8s folltrws.. 2024 2023 Present volue of defined t•n•fft oNvJBts"on• Fair value el plan ass8tS Unrteognised 5uWu$ 14,634.OCQ 119,226.CWI 4,592,000 13.919,000 116.323,CM))I 2.404,CQO (Surp1¥dftcbl In Mo¥•mnts in fv net P•11¥1 oldefingd tffi1 ¢t1¥ati.. 2024 Lioty'lib"e• at 1 2023 Current servKX ec61 Past ser¥i¢• cost Interest eosi c0ntrtsultins frcffi Scme menern B•nefits pal A¢tuanal ga#is aThJ I3,919.) 724.000 145.000 684.000 2S9.000 1151,0001 956 0001 Al 31 MÈrth 2024 14.634.000 Mowarrnls in ts lairv•lv• olF4èn as.. 2024 F?Ir val of 8t 1 April 2023 Nel Intsrest contributll$ by Ihe ernpwr contributn9 by Ihe $therre Thrnbers Benefits paid Relurn on assfrts ItxthdiThJ indudod •) nèt inlerejti 16,323,000 795,0 725,0 269,OD) 1£151.CQ)I 1,265,OX Al 31 Mah 2024 19 226 trira Ihe yeor th is an urwBcognis&J perY&ion surplus of £4.592.LKQ12023". £2.404.fJJOI 8$ rt 1$ noi ¥irtUo1ty rtain that the assei will be reDJ%rabk th 1ributs m th& lulure or Ihrgu9h lundS frorn the plan. contsnued...
Jt05 10 Fin1 Statements. conUNd lor Year Er¥Jed 31 Marth 2024 Rqlated PBrty dls¢losur New Cty CoLmc4 acts as thè prirtipal lurand a wnber of Newport LE. Dunng the year. LNe recei%d £4.325.770 12023." £4.470.5381 from Ne%Yport Cty Counal in the fomi ol manag8Trnnt f8es 8nd 9rants with purchases of £6.213.414 12023." 94.391. At the year end. anKsunts of £749.569 I23. £268.9421 were to N*wp)rt LNe ty Nwx)rt Cty Counol and Nport LNe ¢Med N8WPOrt Qty Council £64.45512023." £nill. Pa9e 37