REGISTERED COMPANY NUMBER: 9204269 IEngland and Wale81 REGISTERED CHARITY NUMBER.. 1163564 REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR SOUTH DOWNS LEISURE GROUP A COMPANY LIMITED 8Y GUARANTEE SOUTH DOWNS LEISURE COMPANY LIMITED BY GUARANTEE COMT NTS OF THE C014SOLID TED FINANCIAL STATEMENTS OR THE YEAR ENDED 31 MARCH 2024 Pag Report of the Tru51et$, including slralegie report 1.19 Chalr8 Sl8¢ement Reference and admlnl$lratlve details of the Charllablg Company) Its Trustees and advisors Struclurei governance ind management 4-5 Oblecllvos and a¢tlvllles 54 Achievement and perftsrman¢• 13 Flnanclal revi 14-18 PlanB for future porlods 18 Truste88 responsibilitie5 19 Reportof the independent auditors 2fy22 Consolldated Slalementof Flnanel81 A¢llvllles Ilncorporating an Income and Expenditure A¢counti 23 Consolidated Balance Sheet 24 Company Balance Shoèt 25 Consolldated Cash Flow Slalemont 26 Notès to the Con801idoled C88h Flowstalement 27.28 Nol08 to the Con$olldaled Flnan¢lal Stalemgnts 29.49 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 202 Chalr'8 3lalement l am delighled lo present the financial slalements for South Downs Leisure, highlighting the rem8rkable achievements and milestones we have reached in Ihe year 202&2024. This past year has been Iranslomialive as ￿￿ continued lo expand thJrseNices. promote induswty, and deepen our commilfflenl lo environment81 $ustainabilty. Community Impact and Engagement One ol the most significant indicators ol our SUC￿5$ this year has b8en the 1.4 Mill￿ visits a¢Joss our lacililies. This impressive figure speaks lo the vibrant. engaged ryjmmunily we serve and reflects the wde army ol highqualily serv￿eS and wogiamrlles we offw. Our organisalion remain$ committed tr) supporting individuals and improwng th8 well-being ol those rnosl in need. Over the past 18 months, we have provided free Ihree-monlh MeMb￿ShipS to over 700 ind'mduds, helping them enhance their phygcal health, rnenlal well-being, and overall quality ol lrfe. Ourfocus on Ihe next generation ￿ equally strong, wih over 3,000 children participab'ng in Oursv￿Mming programme this year, an essential life skill that ensures Iheirsalely in our5eas￿e towns. In addition, w8 prOV￿ed 24 free SMNmming places Ihfough oUrAq￿a School programme, chIld￿n fr￿n low so￿o-econ(MIe back9rounds. [￿r go￿ is lo loslerconfLdence and compelence in water salely lor all. Perfoman¢¢ Agoln$l Buslness Plan Targets We are proud lo rep￿ thal we have mel or exceeded our Business Plan I￿8ts a(wss several key areas.. Customer Experien￿.. With an average NPS score 0135%, we hav& maintained high l&vel8 of wstomersalislaclion. A(kJitionally, developed and beg￿ delwering two new wslomer c￿e ccyjrses lo ensure curstaff continues lo kThide excel￿￿1 service. Fit)ance.' The suc¢esslul nsourcing ol payro11 in May 2024, alongside tho move to paperfess payslips and timesheets, was a key rinancial athievemenl. Addit￿nally, we exceeded expectations by delivering a surplus across all our contracts. Staff Developmeril,. Our partnership vilh training py0vid￿ lan Hitt resulted in the devel¢)pmenl of seven new Irainfftg courses, which are now teing rolled out. Health & Safety.. We aimed for an 80% average score across our lacllKS8s in Health & Safety audkts and we can confirm that our average score was 90%. IT.. The website overhaul 1$ nearing Complet￿n. wlh12unch planned Icr late 2024, 8nd we are also excited to introd￿e gamil￿atiOn to our SDL App around the san* time, Sa1&8 8 Fitness.. We exceeded our membership largel, aveiaging 14,115 members117% grothl, and kept atiriliLM below 5%, wilh an aVer￿Je 014.75%. Our ykeld per memtrH also surpassed the goal, reaching £35.82 por mrmlh. &&slainability'. ￿lIe the rolbul ol a cfjmpany-vide sust8inability induction has laced ¢hallenges, we do inleThJ lo inlro(kKe this over the next year. We introduced an Envlronrnenlal M8nagernenl System in collaboration wlh R￿h1 Dir8(lions and have taken huge SIr￿&S in improving ovr recyding, thich included inlioducing a Te-cyde bike to work scheme, supporting staff on the I￿l￿g wage that are nol aNe lo b￿efit from the nalional ¢yde lo work $c￿me. Health & Wellbeing.. A comprehenwve Heatth & Wellbeing plan is in development and wll be 8 key iillar olour slralegy Irorn 2025 onwards. We have also iniligled partnerships with heaNh LKJdies lo prormle prevention and wehakn'lllats'on in our communilies. Enterprise and Facilities Developm8nl Our subsKliary, South Oowns Leisure Enterprises Ltd., had a succes5fv1 year, wilh corporate hospilalily experiencin9 strong demand. F￿d Place won Ihe prestigious'Besl Events Team. at The Weddi1￿ IndustryAwards, and we have trained iwo staff members as Celebrants, a new and increasingly wjwlar $ervKe. Pagel 1 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Sea Lanes, OUT National Open Walei Swimming Cenlfe in Brighton, opened in June 2023 and has seen over go,000 vi%ilors in less than a year. This facility has not only contributed positivety lo the Charity's financial perf0rrnan￿ bul also provided a pL4llorm lor n￿merouS charity events. We continue lo invest b&k into Durlacilities and have invested over £800,000 over the past iwo years. Irorn newgym equipment lo refuthshed changing rooms. Future Oullo<>k Looking ahead, we are cxjmmitted to reinvesting in ourfaalilies lo ensure Ihal we continue lo grow and enhaTKe our se￿ces, A major investment in Worthing Le￿￿re cent￿ is plannejj. aimed al expanding group exercise and gym Spa￿ while f8designing our soft play areas lo better maet useT needs. Our Capital programrfra targets Ca￿0￿ neulfality al our dry l&ililies by 2030. Achieving this ￿911 require substsnlial investment bul wil Socure long-term utility protection and p)silron South Downs Leisure as a leader in Sustaina￿lItY. Finally, we are preparing lo write a newfive-ye¥ strategy, wlh a si9nificanl locus on Health & w￿1b￿n9. This strategy ￿117 emphasise yevenlion and public hea5th partnerships, ensufiw that we remain al the lor&fronl ol wmmunily health support. In conclusi¢)n, 2023-2024 has been a yearol growth, innovab'on, and deepened community engagement lor South Downs Leisure. A5 we look lo the lulure, we remain committed lo enh*ong well-being, promotin9 inclusiwly, and leading in susta￿a)i1ty. Thank you for your conllnued support and dedication lo South Dow7)s Leisure. Paula Newton Chaii ol Ttustees Page12 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTE REPORT OF THE TRUSTEES FOR THE EAR ENDED 31 MARCH 202 The Trustees, who are also DI[￿tOrS ol the Chaiilable Clynpany lor the purposes ol the Companies A¢1 2006, present their ￿pOrt logetherwilh the fin￿￿al statement ol South Oovms Leisure Limited Ithe tharilyl and ils subsidiaryforlheye8rended 31 March 2024. The Truslees have adopted the provisions ol the Statemenlol Recommended Practi￿ ISORPI applicable lo charilies preparin9 their accounts in accOrda￿e with Ihe Fin8n¢ial Reporting st￿dard applicable in the UK and RepuNic ol Ireilr￿ IFRS1021. REFERENCE & ADIAINISTRATIVE DETAILS Mame ol charlty Scyjlh Downs Leisure Name of 8ub8ldlary South Downs Leisure Enlewses Ltd Chailty and ¢ompany registration Julh Downs Leisure 09204269 &)ulh Downs Leisu￿ Enlerprlses Ltd 09261501 Charity number 1163564 Regl8l¢Yed office Field Pla¢6 Manor House, The Boulev¥d. Worthing, Wesl &ssex BN13 1NP Telephone and website 01903 905050 www.southdown￿ekYjre.¢O.uk The diarity and ils subsidiaries operate frLKn multitqe localk)ns, the addresses of can be found on the website above. AudltOTS Mccabe Ford Williams stalulory Auditors and Chartered Accountsnts B8nk Chambers, 1 Central Avenue. Sittingbouffte, Kent ME104AE Bank Lloyds Banking Group City orri¢8 PO Box 72, Bailey DrNe, Gillingham Busines5 Park, Gillingham ME8 OL Sollcltors Joanna Bussdl Winckworth Sherwood Minerv8 House, 5 M(￿lagUe Close, Londcfi SE19BB Chlef Execullve ofiicer Duncan Anderson Trustees P Ne￿0￿ Ichairl J Marshall (Vice Chair) J La￿en￿-￿all A Free￿0d R Ramdin Ichairl P Griffin P Greenwood-Pearsons A Turner J Finch R Garner H Schan S Redman G Cronin Appolnted 24 August 2020 1 February 2023 5 Febru8ry 2015 1 ju￿ 2019 16 Oclober 2019 24 Augusl 2020 22 October 2021 28 April 2022 3 February 2023 1 Augu812023 1 August 2023 18 March 2024 4 April 2024 Resigned 11 March 2024 18 March 2024 fj February 2024 5 June 2D24 P&Je13 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSYEES FOR THE YEAR ENDED 31 MARCH 2024 STRVCTURE. GOVERNANCE AND MANAGEkqENT South Downs Leisure is a tharitable ￿MpanY limitsd by guar8nte8 consliluted 4 September 2014 and governed by arbd8s memoiandurn ol association, Charitable slalus was appli8d fdlowing the incorKKsralion of the Trust and was 8W8rded shoruy aft&r the Trust Gommenced trading on 1 May 2015. The trustees aro also diredors ol the charity IIK the purposes ol the Companies Act. Th8 charity has a wholly owned trading subsidiary. &)uth Downs Leisure Enter￿se$ Ltd whlch is used to SUPkK)rt thè actSvllies ol the Trvsl. Recruitment and Appointmgnt of Trustees un￿$$ olh6Mse determined by the Gompany, the Board shall consislof al le8sllhree 2nd not more than eleven indi￿dualS comprised as follows.. Up lo 8 Community TrLSSte8S Up lo 2 Local Authority Truste95 Up to 1 Empk)yee Truglee Communrty Trustees wlll always a majority on the Board. New Gommunity Trusteès are recruited in accordance with the Board's agreement and wilh ourArbdes of Associatson. We will always look lo cornplemenl and stren9lh8n the ski115 and experience ol the Trustee team on the Board. Communily Trustees are appoint& for three years wilh membership king rewewed annually. Reuuilmenl of the employee frustee was initially by appointment by the senior managemenl168m in ac(￿rdanCe with the Arbdes ol Association bul from 2016 thi5 wa5 changed lo election by empk)yee$ as agrewl by the Board. The Local AUth￿tY, Worlhing Borou9h Council, confirms its nominab.ons and app&nlments as and when Loc Aulhority vacancies arise. Tfalnlng of Trustees All new Trustees rec£ive an indUcts￿ from the CEO and m881 the Chair. During 2023 we conducted a training seSSK)n for a51 our Iiuslees on governan￿ and scrutiny, whiGh also involved Ihe Executive learn. We also held Iwo strategy planning away days and have plans lo do a team building session with the trustees in the New Year. Organl$atlonal Structure The current Board consists ol seven community Truslegs prO￿ding a range ol experience and protessK)nal exp21tise. Pajla Newton Is Chair and James Marshall is vice Chair. We have Ihree subgroups whKh meet throughout the year b sUPWt Ihe Board.. Flnancg Andrew F18etwood, Pen81ope GreenwNd-Pearsons, James Marshall Pgopl8 and Governance Joanne Lawrence Hall, Paula Newton, Jennifer Finch Rgmuneratlon Rachel Ramdin, Andrew Fleelwood Entsrprlsg Dirg¢lors Joanne Lawren￿ Hdl, Penelope Gr8enwood-Pe8rsons, Paula Newton, Duncan Anders We hdd the following meetings for the period end&J 31 March 2024.. 5 x Board meetings 4 x Finance meetings 4 x People and Governan￿ meetings 4 x Enterprise meetings 2 x Remuneration mg8hngs Page14 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT ￿ THE TRUSTEES FOR THEYEARENDED 1 MARCH 2024 South Downs LolsureTrusteas Kris von Habsburg ICh8irl- relired June 2022 Rachel Ramdin IChairl- iebred March 2024 Paula Newion Ichairl Joanne Lawren￿ Hdl- retired March 2024 Andrew FleeiwoNJ Phill Grrffin- retired February 2024 Penelope GreeTrWoK￿.PearsO￿5 Amanda Turner James Marshall (Vice Charl Jennifer Finch (Staff Trustee) Rits Garner Hillary Schan stephen Redman Gerard Cronin To facilitate the effective operati(y) of the Charity the Board has ddegaled the ￿SponsIbl11ty of administ￿ng the Ch￿ty to a Senior hhanagemenl Team.. Chief EX￿tIVe Officer Finance Director (lerat￿nS Director Grwp 8usinsss Devdopmenl Manager Human Resour￿$ Ex¢￿tiVe OBJECTIVES AND ACTIVITIES Obledves and A¢tlvltles The (l)jethves ollh8charitabie company are.. To Fxovvje orassisl in the provisiw olboth ovtd(orand indcN)rlacililitss in the interest of soual welfare lorrerntion orott)er leisure lime occupalvjn ol indiwduals who have need o15uch reason by their youth. age, infiimily or disability, finanaal hardship, or social circumstance8 or to the public al large with the object ol impr￿Ing Iheiro)ndib'on$ ol life, andlor To promote communily participal￿n in healthy recreational activities, andlor To provideora$sisl in the provision olcommunitylacililies lo be av8llabl¢ lo all sections ollhe community wilhoul dislinclion, including use for me$lings, lectures, and dasses andlorolher loms of recreation and leisure limeoccupation vilh the olect ol ￿MprO￿ng the condition ol life lor 811 (hose who use the lacllilies. a￿lor To promote the education ol the tAJblic through the prowsion of f&ilit￿8 lor the woviston of perfoirnlro arts, andlor such other charitable purpos8s as the Trustees in their absdule discretion may dglermine. In the furthera[￿ olits princi)les the charity prwdos health and leisure facilities forthe pvb1ic benefit. Public Beneflt The Trustees confirm Ihal Iheyhave mrr1p1i￿ with Ih&duty in section 17151 ollhe CharitiesAct 2011 iohave du8r8gard tolhe Charity Commission's general guidan(* on public benefiL We have referred to Ihis guvjance vA)en rewewing our bU￿nesS pLin and planning w ar￿¥1￿.eS lor the future. OUT VSslon and Mission TheTrusl established av￿lOn, Miss[(￿ Slatemenland Valuesoullined below. with ourvislon reflecllng the UKActive Nat￿nal agenda. OURMSION More People, More Adive, More Otten. MISSK)N To de￿ran indusive T￿ge of health and wellbeing inilialve5 whilst providin9 a dean, saf8, and happy knsure experience. Page15 sourH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND AcTIv￿lEs- conllnyed OURVALUES Integrity Wewll be own. honest, and IrErKlly vthen comrnunicaling vilh ojslomers and partners. treoli)g everyone ￿lIh respect. Equallty, dlY¢rslty, and Incluglon We aim lo ensuie that the opportunities the Trust txowdes are *￿SIble, *e aVaila￿e ￿ a non-diSM￿N￿at0ry basis and proiride maximum health and *ellb8ing benefits for all. Conllnuou8 Impiovement We wll slrive lo m8ke thts exp6ri0nce of users and Vi￿10rS better by conbnually revlewlng wr &tiwi118s and pro￿(￿jres. Partnershlp worklng Wewill developand suslan strong and effective partnerships vAlh local and national organlsabon5￿ pursuilolourw$ion.' More People, More Adive, More Often. Innovation We will expbre Ihe intro(Suction ol newproducls and serw(ts, driven by lechnrAogy, industry research and best pr*ice. Stsffing We wll ensure that all our staff are professionally qualilEd andlor appropri81ely trained to deliver Ihe servKe required and respond effectively and quickly lo wslomer enquiries. Envlronmental awareness We wll endeavour lo be an enmronrnentally u)nsd(MJs organisation and vill continually review our Se￿￿5 lo ensure best pwli¢e. A Strong Board Selection and re(nJilmenlolU* Board was plannedwith a dear VI￿On lo t￿0VIde a go￿￿ range olinlerested, ar￿￿late and passionate volunteers wth a strong mix olexp8rience, age, and gender. Tho Board has develcped a de8p understsndino olthe ams ol the Trust and provkle strong, bul challenging, support and gtsidance. Executive Manog¢m•ntTeam The Exec Manag8menl Team is led by the ChEI ExecJJlwe and includeg, Flnance tl'wlor, 0￿ratiOnS Director, Group Busine8S Oevelopmenl Manager, Group F￿lIty Manager Worthing, Group Facility m￿ager Adur and the HR Exe¢ulive. Bebw this we have a Senior Management team. A number of subgroups were held throughout the year lo ellwre the delivery ol the business plan. Remuneration polleyfoi key management personnel A remuneration committee is in pla￿ lor luiure review ol remuneratic￿ IOT key management per8onn81. Historically all thanges in grade have trttn passecs by th8 HRJPeopl8 and Govemancs subgroup. Cost olliwrrfj increases are passed by the Board. Training Weare commhted lo understsnding the sectorweoperate in and Ihe I(￿31 and national agenda. To achieve this, we muslensure staff haveevery opportunity lo attend Conferen￿ and seminars and attend CDnlinuws Profe￿10￿81 Devel(4)menl courses. Wehavecommilled tofundhg CIMSPAmembersh¥), which is (Njrchartered Institute. We have ken ableto lthe thanlaggolseveral free Courses through CIMSPA in addition lo other exlemal and internal training, We are committed to maintaining this budget I(￿ the future and IrKJking lo ciy)linue with Ihe mentoring scheme and management training on attemate years. Page16 SOUTH DOWNS LEISURE ACOMPANY LIMITED BY GUARANTEE REPORT OF TFIE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES- conlinugd Workforce Make Up The lolal Wofklorce al the lime ol TUPE was 367 employees. The total workforce number does llucluale monthly by approx. 25 empk)yees due lo two fadois,. seasmal vaiialions around busylschool hollday periods and taking oll the Ca￿84 employe8s who hav6 nol wothed within Ihe organisalion for the last three months which is ￿ Inland Revonue requirement. Our Board, Exec and SMT teams consist 0111 males and 25 lernaes from a good mix ol age ranges. Malg Fomale 2345 3645 4645 5645 BOARD EXECLSTIVE TEAM SENIOR MANAGEMENTTEAM 12 TOTAL BOARD & MANAGEMENT li li io Gender Pay Gap Reportlng On 6 April 2017, new regulations came into force requiring organisalions with 250 or more employegs lo publish annual retK>Its (¥ntaining detailed information regarding the Gender Pay Gap lirKluding b￿￿3 payl belween men and women acfOSS Iheirwortlorce. Ggndgr Pay Gap. March 2023 MALE Numbgr Mgan IKèdlan 171 12.39 9.37 22 FEMALE Number hlo•n M•dl•n 14.97 12.97 23.41 15.39 Whde Cyganisalion Uppw Quartile Uppw Middle Quartile Lw midd￿ Quartile Lthver Quartile Q.31 0.69 24.36 23.71 0.16 0.29 23.71 0.84 0.71 0.58 0,64 15.7 14.38 99 80 12.97 59 9.24 9.37 8.36 8.91 50 8.19 8.91 67.47 171 69.8B 6&19 386 71.47 In summary we are proud lo report that there o)nlinues to be a lar balan￿ of pay rates b8tsveen male and femae empk)yees across the ￿￿1$allon. STAFF PROFILES August 2024 Tol81 number of employees Total number of posts Number of employees with impairments or disabilities Number 493 897 26 Percentsge 5.27% 3.65% ** Number ol employees of an ethnic minority 23employees declared Ihems8lves as hamng impairments on the 2023 Staff Surwy. The 23 were from a pool 01140 Ihalcompleled the staff survey which equates lo 16%. Ethnic minorib.es k8 Inclusive ol anyone who has éisclosed Ihemselves a5 not being while British. We continue lo use fair recwitrnenl praclice5 and ensuie open and transparent processes to encourage all inleresled parties to apply for roks. We are proud that we have relained the Dl8*ilily Confident Employer (Level 21 and have taken parl h the EmployAbilily sc*eme to assist dis8bled people into the I￿sure workforce. The annual Community Leisure UK HR Staff Survey is used lo benchmark staff salaries. Thi8 has been used by Ihe People and G)vernance and Finance sub-commille8S to sel th8 cost of living increase each y&ar, along wlh ensuring roles are being paid al a compelilive rale Page17 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OFTHETRUSTEES FOR THEYEAR ENDED 31 MARCH 2024 08JECTIVES AND ACTIVITIES- continued Continuous Improvement A key lo Ihe success of South Downs Leisure is in the desire to improve, reinyesl and be al the foretronl ol new initiatives. We &tNely support CIMSPA membership Ithe Ch8ilered Inslilule lor the Management ol Sport and Physical Aclivilyl with Ihe senior management tean being rnembers. We dso work cbsely wilh Community Leisure UK allending regular calls and conferences. Please see table below detailing Ihe historical performan￿ monitors Sin￿ SDL was fomed and the stslus ol wrrenl audits. Both SPLC and LLC have 8150 been throu9h QUEST assessmenl this year. Audits H&S Audit Worthi n H&S Audit Splashpoi nt H&SAudit Field place H&S Audit Davison H&SAudit Lancin H&S Audit Southwick H&S Audit Wadurs NPS Adur NPSWorthing 2017118 2018119 2019120 202V22 2022123 2023124 93% 94% 87Yo 91% 94Vo 85Yo 92% 91 93 92 glyo 6° 84% 81% 85 87% NIA N/A N/A N/A NIA N/A NIA NIA N/A N/A N/A NIA 82% 83Yo 86 86 89 36Yo on target <15% >15% CUSTOMER SATISFACTION &)ulh Downs Leisure rec￿niseS that the customer is al the heart ol the business and conlnually monitors Satisf￿tion ratings using the 'Nel Promoter Score. system. NPS is a management tool Ihal can be used lo gauge Ihe loyally of an organisalion's customer reLg1ionships.11 serves as an allernalNe lo Iradilional ￿$toMer sab"slaction research and has been adopted by more than two thirds ol Fortune 1,000 companies as well a5 many of the leisure industry providers. We have continued lo ￿tIV￿ySeekfeedtsack from customers, and this has (onts'nued through Inlrodu(ang Ihis via our app. All feedback is reviewed and actioned by the relevant teams. Pa￿18 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENTS AND PERFORMANCE We have achieved external recognition from Active Sussex winning Ihe'suslainable business ol the year, whid) is great recognition ol our continued work in this area. Our teams have continued lo work in Ihe communily offering Iiee memberships lo people in need lolalling 748, offeiing CPR lilesaving sessions and increase our GP ￿ferra1 scheme lo 220 pailicipanls. 11,000+ vdunleer hours have beeTr assigned auoss our siles abng with anolher successful Dreams festival and our drop and Shop Christrnas event. Des￿le the pressures affecting all business we have conb'nued lo grow our mernbership lo over 15.000 arKI have seen continued gr0￿h n all areas. As a result. we have been able lo continue our development o15ites and a few eXam￿eS are listed below.. Converla a squash court al Landng lo a spinning studio Upgr&ed rePl￿ement spinning bikes al SPLC Toilet and cha￿ing refurbishment al Soulhwick LC A￿$$ control upgraes al Lanong and Southw￿k LC In line wlh our Objects, we achieved many things in our business pkgn, see page 1. Diredly in line with ihis we looked al the S(￿la1 groups needing supwil and continued lo review our offering.. We now offer junior memberships up to age 25. This allempts lo capiure the p￿nI where parents no longer pay lor th￿[ children who are less likely to afford adult mefflbership prices due lo earning low wages. We provide Ire8 memb8rships lor Care Leavers, Refugees and Homeless, and Low-lncome Famili8s, These are groups who are ollen neglecled and where a membership can give the feeling ol inclusion and community where this may not be Idl elsewhere. The16edback we have re￿IVed ft)r Ihese schemes has ieinforced how important Ihese schemes can be. The Phoenlx Club is specifically lor Ihe over 50s and provides friendship, leisure actiwlies. choir, speakers, Chrislmas pantomime and lunches. This has retained an enlhusia5tic membership lor many years. Disatxlily Days have also proved very wpular for disabled ch￿dren and their families. These involve fun activities and crafts. SDL 15 keen lo promote community participation in healthy recrealional aclivilies, one ol these is the Filipino sports days which a held al Dawson Leisure Cenlre. This has increased from one evening to entire weekends and now in¢￿deS activities lor Ihe whole family. Pro￿s1On ol community facilities for varied activities has covered many groups.. Drop. swap and shop- our Christmas offeiing lo enable people lo swap good condition toys orto buy was exlremely popular last year. This enabled struggling lamilEs lo provide Christmas gifts for their chiLdren wilhoul the expense. Paranoimal group- this is a sp8cial interest group which hires Field Place Manor House lo carry out their invesligalions. Worlhing College Ernployabilily Day has been held a lew limes now. This is held by Ihe college and SDL stsff lo give pu￿.1$ the experience ol being interviewed and receiving leedbad< and lips. SID Youth hang out is a Club lor YOU￿ people lo provide activities and community. FirslNid CPR skills courses were run lor free lor Ihe public. EdUcat￿n of the public through provision of performing arts is ajdressed by.. Green Dreans Community Food and Greenspace5 Festival where many groups come logelher, including a UkU￿le band. This has been supported al Field Place loi a numberol years but, in addition, is nowalso being supported by SDL In Lancing. A local Ihealre group use SDL both lor rehearsals and per1￿ManCeS. Link lo Social Impact Repoil for more infomialion.. South tkjwns Leisure Social Ima cIRe rt 2024 Customw Experience.. With an average NPS score of 35%, we have maintained high levels ol customer salisfaclion. Additionally, we developed and began deliveilng Iwo new customer care courses lo ensure our slaffconlinues lo provide excel￿nI service. Health & Safely.. We aimed fcf an 80% avorage score across our facilities in Heallh & Safely audits and we can o)nfirm that our avetage score was g00A. Page19 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENTS AND PERFORMANCE- contlnued Finer￿e.. The SuC￿$S1u1 insourcing ol payroll in May 2024, alongs￿e the move lo papedes5 payslips and timesheets, was a key fnanckgl achievement. Additionally, w8 exceeded expectations by delivering a surplus across all our contracts. Staff Development.. Our paiinership wilh training provider lan Hill ￿sUlted in the development ol seven new training courses, which are now b￿ng iolled ￿j1. Healih & Wellbeing.. A Comprehensive Heallh & Wellbeing plan is in development and will be a key pi118r ol our strategy from 2025 onwards. Vve have also initiated partnerships with public heallh bodies lo piornole prevention and piehabllilal￿n in our communib'es. Enleipiise and Facilities Development Our subsidiary, South Downs Leisure Enlerwses Ltd. had a successful yèar, wth corporate hospilalily experienung strong demand. FEld Place won Ihe prestigious Best Events Tearn al The Wedding Industry Awards, and we have trained two staff members as Celebrants, a new and increasingly popular servi￿. Sea Lanes, our National Open Water Swimming Centre in Biighlon, opened in June 2023 and has seen over 90,000 visitors in less than a year, This facility has nol only ￿ntributed positively lo the Charily's finan(aal performance ￿11 also provided a platform lor numeious charity events. We continue lo invest back into our lacililies and have invested over £800,OW over the past years, from new gym equlwnenl lo re￿l￿'Shed changing roorns. ENVIRONMENT AND SUSTAINABILITY This has become a key focus of Ihe busine55 Since 2021, and we have introduced a separate Suslainabilily Development Strategy lor 2022 - 2026. We have worked h*d lo make this part of Ihe culture al SDL, by investing in training staff, communications lo Sta￿￿$t1)merS and working with pariners. We have ensured that suslainabilily is considered as part ol 811 decislons that are made al all levels. We have invested heavily in environmental savings across all siles., work￿ng hard lo understand our energy usage and drive this down. Thishas been in the loim ol LED lighting, PIR sensors, redU￿d the limes high energy facilities and equipmènt are running. Staff teams have ie8lly taken this ￿ &ross Ihe siles wlh environmental champions leading the way and conllnually coming up wilh new ideas. Comparin9 gas and eknlricily usa9e belween 2023 and 2024 shows the conb'nuing affect the measures are having.. Worthing Gas 2023 v 2024 (kwh) 500.000 450,000 400,000 350.000 300,000 250.000 200,000 150,000 loo,000 50,000 Iiiiih 5DL Gas 2023 Ikwhl SDL Ga5 2024 Ikwhl Gas is muth harder to reduce a8 this controls the healing and hol water. The CHP al s￿ashpOlnl also us8s gas lo create electricity. Page110 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ENVIRONMENT AND SUSTAINABILITY. contlnued Worthing Electric 2023 v 2024 (kwh) 250,000 2(K),000 150,000 loo,000 50,000 SDL Electric 2023 Ikwhl 11 SDL Electric 2024 Ikwhl Adur Gas 2023 v 2024 (kwh) 120,000 loo,000 80,000 60,000 40.000 20,000 11 Adur Gas 2023 Ikwhl Adur Gas 2024 Ikwhl Pagel 11 SOUTH DOWNS LEISURE ACOMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ENVIRONMENT AND SUSTAINABILITY- continugd Adur Electric 2023 v 2024 (kwh) 45.000 40,000 35.000 30,000 25,000 20,000 15.000 10.000 5,000 Adur Electric 2023 Il) Api JthQJ TO 5* SW 55) -?J S¢* J*24 1*4.M Jd Od-jl bQ4 ¢frfnblMdCOls•¥lr¢ 56A Page | 12 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 MARCH 2024 The introduction ol an involce c4lure syslem for the purchase le￿er has resulted in time, paper, and loner savings. A (￿n￿rIed effort acioss the company has led to further feduclDns in the puichgse ol slalionery, induding paper, and lorier. HR al80 began lo use Docusign lo save papBr, envelopes. loner and postage. This has also resulted in belter reporting and a higher rale ol relurn ol signed documents. This syslern is being rolled out Ihroughoul the company and has been rePla￿d by PandaDoc in 2024 10 achieve higher (x>sl sawngs. Toner costs have also r￿uced as a result ol reduced prinling, thus reduang our enwronmenlal impact. Stationery inc paper 12,0(X) 10,000 8,000 6,000 4,0(Kl 2,000 2019-2020 2022-2023 2023-2024 Worthing ll Adur Toner Purchases 4,5(M) 4,0(M) 3,5(X) 3,000 C 2.500 1.5LK) 500 2019-2020 2022-2023 2023-2024 Worthing w Adur Allhough the cost of purchases have increase over the last four years Ihere h&8 been lillle imp￿1 on costs due to Ihe reduction in printing. Pagel 13 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OFTHETRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW The following charts show where our incom8 carrE Irorn al￿ how Ihal money was spent. Where our income came from in 2023-2024 Davison Worthing Leisure Centre Spla5hpoint Field Place Sea Lanes Lancing Manor Southwick Leisure Centr Wadurs Swimming Pool Palatine Park Bu5ines5 Development External Funding Head Office What the money was spent on in 2023-2024 • Cost of Sales Employees Supplies & Services vi Depreciation Pagel 14 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW- continued Income 12,000,000 10,000,000 8,000,(K)O 6,000,000 4,000,000 2,000,000 The abovecharl Shows Ihe income year on year. 2013-2015 we were a council Direct Ser￿0 Organisalion. Staff Costs as a %age of Income 70Y 60Yo 50% 40% 30% 20% io% 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-212021-22 2022-23 2023-24 The above charl shows staff cost8 as a % ol income. Figures Irom 2018-19 indude Head Office costs. Page | 15 SOLITH DOWNS LEISURE A COMPANY LIMITED BY GUARA TEE REPOR OFT E TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW- continued R18k Manigemnt The Trustees have a duty lo identify and reviewth8 risks to which the charity is exposed and ensure appropriate Ixjntrds are in place. A risk rewrt is pat ol each Board 4enda. The top risks have been identffied as.. Membership no longer able lo grow due lo lth of8pac* Losing the Adur conlract Membership not reachin9 target levels Utility costs increasing beyond our trL4Iget Cyber crime Steps havebeen laken lo reduce or mitigate Iho atr￿¥e risks. The initiatives have been impleTnenled lo reduce risk and improve risk management.. A risk report al e8d) Bo¥d meeting. A SWOT andysis condUct￿j annually lo identify weaknesses and threats. A calendar ol audits which include Health & Safely, Financial and Quality audits. Sales Generic mystery visits and Net Promoter Score suNeys lo enwre YR ate delivering the service to expedation. Affiliation lo the Quest industry accredilalion sthwne lo maintain hiqh slandths across all secltons ol our business., The rrenl position ol eath sile is as beltsw. We have ctsnpleted 3 Quest audits this year al Lancing, Southwick &)d Wadurs. AK 3 siles scored good. These are extensfve 2- day audits thking at all areas ollhe ￿siness. Hgallh and Safety S)ulh Do￿9 Letsure is committed lo eTNbedding a cutture of proacliwe health and safety management throughout the organisalion, This is included in all staft and 1-1 rneeling$, &)d have a dedicated Group Health and Safety Manager who proaclively across the Sites to ensure the best standards are maintained. They have reswnsvoilty for Heatth and Safely compliance &Yoss the nine stss working cbsety w4th the sile teams. The Operabons Direclor oversees regular cross-sile me81ings the Operabons Managers, and we 8im for each site to have an q)poinled NEBOSH (The National Examination Board ￿ Occupalional Safely and Health) repre$entstive In this area supported by IOSH Ilnstrfution ol Occupational Safety and Health) trained duty staff. We have trained a further 2 members of staff in NEBOSH & IOSH thlsye￿IofUrtherdeVeIop skills acmss Ihe sbtes. We alsohave 8xletna expertadwce through wr¢onlractwith Right Directions who provide regular updal&s onl8gis1at￿n and compliance changes as well as prowding an annual Health & Salaly Audiloleach sile. This year1￿ average score across the &tss was 90%, an increase 013%. Accident$nd Sn¢ldenl reporting uth DosTh5 Leisu￿ ￿tsIns Ihe servI￿S ol RMJhl D￿e¢t￿l)S and the Data Hub dlgital platform. Right (firections are a recognlsed induslryleader in the Heallh and Safety field and have txovided ex￿lIent support io the group H&S manager and sile teams. The she man￿erS alld sections heads ar& provided wilh up-to-dale information and notification$ old)a)g8s in legislation. logelher with the calendarol audits. advice, and support in fèspedol lihgalion claims. The repDtbng plalform provides update data lor manaJers to review and action. In the past year we have had no RIDDOR reportaNe idents. All accidents and near misses are wewed by the group H&S manager with the ￿te team and also in ops meellngs. Any actions are recorded and chethed in the sites service improvement plans. The a(£idenl to usage ratio forAprK 2023- March 2024 was 0.03%, this is compared to the naltonal averaje 010.45%. P*Je | 16 SOUTH DOWNS LEISURE A COMPAMY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW- continued Reserves Surpluses on Irading and charitable activities will be transferred lo a risk reserve and an improvement reserve. After the accurnulalion 01 £891,000 into the risk reserve, then the Worthing contract part ol the Trust shall Iransler up lo £100.000 of any surplus generated into a dg5i9naled account, the Improvement Reserve. Surpluses from the Adur contract wll be saved into a separate improvement reserve after 50% has been patd lo Adur District Council. Surpluses from the Palatine Park contract are to be kept in a separate fvjnd lor use on football in the communty. The group has relumed a suwus of£1,294,81012023.' £319,936, after exceptional items. There was 8 surplus in the year of£236,177 before exceplional ilemsl, The ￿cuMulated reserves for the group amounted lo £2,568,31212023'. £1,273,502), including restr￿ted funds of £4,76212023.' E40,2291 and unrestricted lund5 of £2,563,55012023.. £1,233,273). In the event that the Trust rneets the agreed Risk Reserve larg*l of £891.000 and after £100.￿ has been transferred into the lrnprovemenlReserve lorthe Worthing contract, 50'k ofenysurpluse3forthe Adurconlracl have been transferred inloan Improvement Reserve, and ihe Palatine P8th surplus has been transfe[￿d into a football in the community lund, and the Risk Reserve tsrgel ha$ been maintained for a (onlinuous period 013 Tnonlhs, Ihen 50% 01 any additiona surplus generaled by the Trust in any Ser￿ce Yeai shall be shared with Wor￿Ing Borough C￿nCil. The Trust had lolal reserves al the balance sheet dale of £2,568,31212023: £1.273,5021. £891,00012023'. £891,000) has been des￿nated as the rkqk reserve in ￿Kdance with the reseTves policy and £1.034.94412023.' £661,0441 has been designated 88 improvement reserve lor Worlhing, Jus £174.￿4(2023 £0) for Adur. Palatine Park deficit £9,014 and Sga Lane5 risk reserve £125,000. in accordance with the reserves pOI￿y, and £76,566 designated as the business improvern8nl reswe lor Sea Lane5. Restr￿ted lund5 al the yearend We￿ £4,76212023.' £40,2291. The Worthing improvement reserve balance 01£1,043,95812023.' £661.0441 is madg up of tho nel bcM)k value offixecl a&sel pur¢hase$ since incorporation 01£288,20512023.' £457,519) and there w8re £755,752 in unspent reserves12023.. No unsp&nl re5etve51. The Adur improvement re5etve balance of £174,53312023'. £01 Is made up of Ihe nBI book value of fixed a55el purcha5e5 Sin incorporation of £169.06812023.. £0) and there was £5,465 in unspent res8Nes12023,' £01. Th8 Sea Lanes irnprovemenl reserve balanc8 01£76.56812023-. £01 is made up of the nel book value gf fixed assèt purchases sin Incorporation 01£169,06812D23.' £0) and there was £5.465 in unsp8nl resoNg812023.' £01. Golng conGem Having wealhered the instability of gas and 818clricity supplies and the exlorliona16 prices caused by Ihe war in Ukraine we continue lo purchase our ulililies through a broker, 80 hedg8 and contraclour purchasing ahe&1 olbme. We conlinue lo keep our Peoplts, Profi( Planet manlrafirsl and loiemosl and aoy this lo all decisioTr5. Additional 5dai panels are to be filted to splashp￿nI and Wadurs swimrning poD15. We have been Successful in a bid from &)ulherTh Water lo impkmenl a new water savin9 scheme wh￿h will ullirnalely reduce costs. We are a150 invesluating in Deep Green as an additional lod lo bring Spla5hpoinl io nel zero in lin8 with our policy. Thg induslryisstill seeing an increase in membership since the pandemic and &ulh Downs Leisure is no exeeplKsn. The membership continues to grow making our facilities very busy, Hans aro being invesligaled to in(xea5e our capacily and ifflprove our offering. We now have a lean, agile Workfor￿ which is fell will be one ol Ihe besl ways lo cope with Ihe challenges we have 8xperien￿d and to give us flexibility mowng lO￿ardS. We are locussing on the People element this year and have develope(S a number ol inhouse training cojrses to (ontinu8 developin9 oul staff and encouraging relenth'on. Cosls are rn￿110red and controlled closely and all ￿heM&s available are utilised b minimise our costs i.e,, training through CIMSPA. By invesling in our people, premises and products we believe thal we are the to provide an excellent serwce whlL81 keeplng thls ess1￿8 lo Ihe community we serve. There are numerous schemes to prowde access lo harder lo rexh gr(AJP$ and remaining Ofitab￿ ￿abl&S our conbnued efforts in this area. Pagel17 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRU EES FOR THE YEAR ENDED 31 MARCH 2024 GoSng ¢on¢ern The Board olTruslees has Cons￿e￿d the current economic climate and are satisfied that, assuming customers bd)awwr is in Ine vilh industry expectstions, that il wll be able lo rwel all ils obligabons as aThJ when Ihey fall due. Accordlngly, they consider appropriate loconlinuts lo prepare the financlal stalemenls on a going concern basis. Plan$ for Ih•luture s￿th Downs Le15ure's wrfumance in the financial year 2023-2024 has been exoptional, highlighted by rematk8bb membership & rin8nclal gr0￿h, reductions in our carbon loolprinl, and oulslanding recognitions wlhin the business and events industry. These echievements reflect our cornmilmenl to providing lop-quality services, sur4)crting sustainability, supporting ourcommunity b8ing a socially restKJnsible Organisat￿n. We r8man commilled lo our mis$K￿ ol provklin9 inclusive health and wslbeing initiabves while m8inlaining 8 clea), sale, and happy kisure experience. A major in¥eslmenl li Worthing Leisure Centre is ￿anned, aimed at expanding group exerC￿e and gym space redesYJning our soft play areas lo better meet user needs. Ourcapilal kwc¥Jramme largels cart￿n neutrality al ourdry faiilties by 2030. Achieving this will require subslanlil investment bul will secur8 long4erm utilly protsction and pogtion South Dovm5 le￿Ure as a leader in sustsinabilily. (￿r dedicabon lo the triple ￿ttOM line ol People, Pl8nel, Profil guide8 our ¥b'ons, ensuring a positive irfp￿t on our community the environm￿1. We look lorvrdrd lo continued SU￿5$ and wJress in the years lo come. ACCOUNTABLE AND TRANSPARENT The wotk ol the Trust sits largely in the public domain and 1hr￿gh its values, club and ¢uslomor l(Kus gmups, Surveys & feedback Mech￿15M$ il strives lo engage S￿1h 811 interested parties. The business plan and objectives ale publshed *)d sU￿.e¢l lo public scrukn'ny. As part ollheservw agieen*nt with Worthing Borough Counc41, the Trust prowdes regular reports to the Council rfft its perform&Ke through monitoring Koy Performance Indwtors IKPlsl. FUNDRAISING As a charity our irKome is thrNed from tharilable trading a)d as such, we (b not undpJtake any specific campaigls whKI) require donations. DISA8LED PERSONS The parent Charitable Cornpany and its subsidiary undertakings, policy is lo give lull and lair consider8boD to 8ppli¢alions lol nploymenl by disabled per8on$, hawng regard for their particular apliludes and abilities. DIsa￿ed employees receive appropriate training io promote their career wlhin Ihe organisatlon. Employees vtho be(ome dISab￿d a￿ retained in their existing posts where pjssible or ietrained lor suitaNe 211ernative posts. &ulh Downs Lei5vre is a Di58bilily Confident employer and completed the Employabilllysdieme during 2022-2023. ENGAGEMENTwfTH EMPLOYEES A ieoular staff newsleller, a staff F￿e￿0k page, an annual staff awards party and environment team building days arejust ￿me ol the ways that South Downs Leisure engage with slaff.11 FS recognised Ihal diff8renl avenues are required lo engage smth different groups 0151alt, and we continue lo look al new avenues for communication, A number ol p¢xJGgSts have been ueated to discuss different suty'ects which have induded menopause, cost ol Ihvlng, neurodivergen￿ el The Well￿1￿9 Champions {prev￿us￿ known as Work￿3¢e Champions) 1ntrCdu￿d in 2021 are volunteers who have been given training to support staff, provide a means ol signposting slalfto addib'onal Supp￿ and coordinating wilh management as necessay. Worthing Counselling Centre was empkjyed as the EAP provKlerduring 2019120. Thls is a local charitable Serv￿ which h88 already woved m￿e popular than the previous, more generic, service, We are helping our staff and another IcKal charity which fits perfectly ith our elho$. Our Lx)ard olTruslees also includes a Staff Trustee lo represent the staff. Page | 18 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES R THE YEAR ENDEO 31 MARCH 2024 STATEMENT OF TRUSTEES RESPONSIBILITIES The Injstees Ivtho are also th& dI￿¢t0￿ ol South Downs Leisure lor the purposes of c￿mpanY lawl are ￿spOnsible for preparing the RepLYt ol the Tnjslees and the financial statements in ac(J)rdance wlh apFlicable law and United lthngdom Accounling Slandards (United Generally A￿pIed Accounting Praclic*l. Company lawrequire5 the trustees lo prepare financial statements for each firtrancial year which give a true and fair Mewol the stsle of affairs ol theCharits￿e company and ol the in￿ming resources and applicat￿ ol resources, induding the and expenditure, ol the charilatle company for Ihal peric￿. In preparing Iho8e financial statsmenls, the Iiuslees are required lo sded suitable accounting prAiaes and then ap￿Y them consislenuy., Obs￿￿ethe fflethods and PriTKi￿e5 In the Charity SORP 2019 IFRS 1021.. makejudgemenls and estirnate5 that are reasonable and prudent., stale whether applicable UK Accounllng Standard$ have been frAIMd. sutr4.ecl to any material departure8 dLgclosed and exp18ined in the financial slalemenls Prepaillhe financial statements on Ihe going a)n￿rn basi$ un￿$11 ￿ Inappropriate to txesume Ihal the charitable company in operation. The trustees are responsible lor kee￿rrfJ proper accounting r￿rdS whid) dis¢kjse￿itlh reasonable ￿racY al any lime the financkgl posilion ol the charitable company and lo enaLle them lo ensure that Ihe financial slalemenls comply with the Cornpanies Act 2006. They are also reswns(ole lor saI￿U3r(Ilng the assets ol the charitable company hence lor taking reaSona￿e steps loi the prevenllon ar￿ delection ol Iraud and other iriegularilies. In so lar as thetruslees ao aware.. there is no re￿vant audit infomiation olwhith Ihe Charitab￿ ¢ompanls auditors are unaware.. Ihe Irusleeshave taken allthe steps that they oughllo havelaken lo mthethemselves aware of any r￿e¥￿t audit infotmation and to esta)Ish ihat the auditors are aware olthat informal￿n. This report has been prepared having tsken advantage ollhe small companEs exemption in the companles act 21106. ON BEHALF OF THE BOARD.. P NevAon- Chair Dale. 30 Se￿￿er 2024 Pag8 | 19 EPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF SOUTH DOWNS LEI URE Opinlon We have audiled the financial slalemonls ol South Downs Leisure Ilhe 'parenl charitable CQTnpany'l and its subsidiary Ilhe 'group'l lorffteyearwded 31 March 2024 which compris&lhe Consolidated SlalementolFinancialActivilies, the Consolidated Balance Sheet, the Ccfflpany 8alan¢e Sheet, the Consolidated Cash Flow Slalemenl and notes lo the finanaal slalements, including a summwy ol siqnthcanl ￿AUNting wliues. Th&fillallcial rep￿ting Iramewoiklhal has been applied in Iheirpreparats'on is applicable law and United Kingdom Accounling Standards induding Financial Reporting Standard 102'The Financia Reporting Standard applicable in Ihe UK d RepU￿1C oflieland, (Uniled Kingdom Generally Accepted Accounting Practice). In ouropinion the finana81 statements.. g￿e a true 8nd18irview ol the slate ol the 9roup's and ol the parent ch&itable company's affairs as at 31 March 2024 ol ils incTrming resources and application olresources, indudin9 its ineome and expenditure, lor the yearth8n ended.. have been properly prepared in accordance with United Kingdorn Generally A￿pIed A(wunling Pl￿11c8,. and have been prepared in accordan￿ wlh the requirements olthe CompaniesAcl 2006. Ba$1$ for opinion We conduded our au(lit in aCcOrda￿e ￿1th InternatiLm81 Sts[￿ards (x) Auditsng (UK) IISAS IUKII and ar4)licable Lgw. Our responsibilities under those standards are hjrther described in the Auditors responsibilities lor the audit ol the financial slalemenls section ol our report. We are independent ol Ihe charitable company in accorrtan￿ Ihe ethicd requirements that are televanl our audit ol the financial stslements in Ihe UK, in¢luding the FRC'S Ethical Standard, and we have fulfilled our other elhi¢81 responsibilitie5 in aC￿rda￿e with these requiremerlts. We believe that the audil evklence have obtained is SuffiC￿nI appropriate to piowde a basis for our opinion. Concluslon$ relatlng to golng concern In auditing the financial statements, we have (fjnclvded that the Trustees, use ol Ihe going concern basis ol accS￿lary, or retums adquatelor our audit have not been received from bran¢hos not ￿sIted by us.. or the grrNJp and pa￿￿1 ¢haritsble company linan(ial sla18menl$ are not in agreemenlwlh the ￿CoUnting records and retums,. or certoin dsdosur88 of trustees, remuneration speafi8d by law are not mad¢.' have not received al the inlom]ation and explanations we require lor our audit., or the trustees were notenlilled lo prepare the accounts in accordan￿ with the small companies wime and tske advantage ol the srnall companies &xemplvJn from Ihtt requiremenllo p￿pare a Strateg￿ reFort. Responslbllllies of trustees As explained M0￿1￿1[Y1n the StalemenlolTruslees Responsibilities, the trusleeslwho are alsolhe directorsollhecharilable Company for the purposes ol company lawl are resp￿sIbLe lor the preparation ol the financial stalements and for being salisfjed that they give a Itue and lair Mew, and lor sud) interJ)al ¢onlrol as the trustees deternine is ne￿SSary lo enable the preparat￿n ol financial statements that are Ireelrom material mi$$lalemenl, ￿ether due to fraud or error. In preparinolhefinanclal stalemenls, the Iwslees are￿SponSIblef0r assessing Ihegroup's and th8 parent charitable companys ability lo conlinue as a going concern. disclosing, as applicable, matters related lo g￿ng wn¢ern and using the going concern basis ol accounting unless the trustees eilher intend to liquidate the charitable company or lO￿aSe operations, or have no realistic alternatwe bulto do so. Our rèsponslbSllties lor the audit ol the financial statements Our objectives are lo obtain re&Onab￿ assurance aLN)ul whether the fin￿cial slatsmenls as a whole are free from materia M￿stateMent, wholherdue lo fraud or error, and ID issue a Fieportol the IndependenlAuditors that includes our opinion. Reasonable assurall￿ is a high ￿Ve1 ol assuran¢e, bul is not a guarantee Ihal aft audit conducled in accordance with ISAS IUKI wll always d&led a Material mis5talemenl when il e￿$ts. Misslatements can arise from fraud or error and are consdered mal8rial il, individually or in the aggregate, they o)uld reawna)ly be expected lo influence the economic delis￿nS of users taken on the basis ol Ih8se f5nand81 stsiemenls. Irregularili8s, including fvaud, are 5nslan￿$ ol non-compliance with laws and regulations. We design w0￿dUreS in line wlh our sponsi￿lItieS, outlined above, lo detect maleria misslalements in respect ol ￿￿e9VL2rrt￿s, in¢￿dIng fraud, Tho exlenl lo which our procedures are CaPa￿e oldetecting irregvlaiities, In￿ding fraud ts ddaled behjw.. r 4)txoach lo idenlitymg and assessing the risk8 01 materia misstatemnt in respect of irwularibes. indu(Ing fraud and non- com￿lan1￿ wth18ws and regulations, was as follows.. engage￿ellI partner ensured that the eng8￿ment team ¢c41eclivety had Ihe appropriate competence, ¢8pabilits'8s skills lo ideTrlily or recogni$& non-complian￿ with applicable laws and re9ulalions,' idenb'fied Ihe laws and regulations applicable to Ihe ch￿table Company thrI￿gh dwJs%ons wlh trustee$ our ex￿￿nce ol the sector., IwJsed on spe￿fiC laws and regulations which C£￿51dered mey have a dlrect material 8ff8Ct on the financial stalernenls orlhe operations ol the Group and Charitable Company, including, not limited lo, the Companies Act120061, UK lax legislation., assessed the extent of ￿M[￿lance hilh Ihe laws regulations identified above Ihrough mthiro ￿quirieS ol management., and identifi￿1 laws and regulations were communicated within Ihe audll team regularly and Ihe team r￿nall￿d alertlo instances ol non Employer's Pension Contribut￿n$.. £O- £S.00012023'. £0- £5,000) Tru8tse$' Expenses There were no trustees. remunefalK>n or other benefits lor thè year ended 31 M￿ch 2024 nor lor the year ended 31 March 2023. 14. STAFF COSTS 31.3.24 31.3.23 Company Wages and salaries Social secuiity costs Defined contribution pension costs R&Jundancy and severance payments 3,805,496 194,920 210,714 18,613 4,229,743 3,295,807 168,876 236,993 534 3.702,210 Subsidiary Wages and salaries Social se￿ntY cos15 Oiher pension ujsts 142,616 9,975 8.135 160,726 114,565 8,710 7,331 130,607 4.390,469 3,832,816 Thwe were three redundanc￿9 in the ye¥lDtalling £18,61312023.. £5341. The average mrmlhly nvmb¥olemployees during th& yearwas as follows.. 31.3.24 404 31,3.23 366 The total amount DI employee benefits reoived by key maThagemenl personnel Wds £478,78012023.. £482,230). The Charitable Company conskleis its key managemenl pe￿onnel lo be the Chief Executive, Finance Diredor, Operations Director. HR Executive. Business Devdopmenl Manag8r, Operalk)ns hlanagers and stall truslegs. The numLEr ol employees whose ernL1Um￿l8 fdl wthin the followng bands Wds.. 31.3.24 31.3.23 £60,001- £70.OLIJ £70,001- £80.000 £80,001- £90.000 £g),001 £100,000 £100.001-£110,000 Page | 37 SOUTH DOWNS LEISURE A cOmPA￿y LIMITED BY GUARANT NOTES TOTHE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 14. STAFF COSTS. eonllnued The numberol employe85 earning in 8x¢ess of £60,000 IILY the ye*) to whom retirement benefrts are ￿Uing.. 31.3.24 31.3.23 15. TAXATION The Charila)Lg Company paid no corporation la% during the year. Prowsions lor £11,64212023.' £5,62n have been made al 31 March 2024 lor corppration tsx du8 in ￿Spect ol the surplus from trading aclivilies recLYded in the year ended 31 March 2024. During the year ended 31 MEKh 2024 all trading activities were conducted ty the tholly owned subskliary, &)ulh Downs Leisure EnleTprBes Limited. South Downs Leisure Enletprises ￿Mited has provis￿n$ induded of £25,12412023'. E11,7661 In res[￿Cl ol defer￿d taxation and a COTpof81ion lax creditor of £11,64212023.. £5,6271 in resP8Ct ol coworation tsx payable i)n profits relakn'ng lo IradSng income. The analyss ol the tsx charge on the profi'l lor the year was as follows. 31.3.24 31.3.23 Current tax.. UKcorporation lax Under provision of ¢yJrporation lax in the prior year Deferred taxalion movement Tax on trading profil 11,642 5,627 3,821 397 9,051 19,057 16. INTANGIBLE FIXED ASSETS Group and company Computer software COST Al1 April 2023 Additions Di%￿sa5 111.671 Al 31 Ma￿h 2024 111,871 AMORTISATION Al l April 2023 Charge loryear Eliminated on disposal 91,543 15,647 Al 31 Morch 2024 107.190 NET BOQKVALUE Al 31 March 2024 4,681 At 31 March 2023 20,328 Page | 38 SOlJfH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMEN FOR THEYEAR ENDED 31 MARCH2024 . CONTINUED 17. TANGIBLE FIXED ASSETS Group EXerc￿e EquipThnt Fixtures and IT, audio and filtings vi5ud ¢quipmenl Totals COST Al1 April 2023 Additions Disposals 191,137 79,289 534,485 134,258 3.682 114,503 1,440,125 213,547 7,042 At 31 March 2024 867,066 665,061 114,503 1.646.63Q DEPRECIATION Al1 April 2023 Charge lor year Elminaled on diswsal 452,565 122.376 3,360 344,828 65,308 3,666 112,037 1,096 909,430 188,780 7,026 Al 31 Marth 2024 571.581 4￿,470 113,133 1,091,184 NET BOOK VALUE Al 31 Mar(* 2024 295 485 258 591 1,370 At 31 March 2023 338,572 189,657 2,466 530,695 Company Exerase EquipTnenl Fixtures and IT, audD and fittings Vbsual equipnenl Totals COST At 1 April 2023 Additions DIspo8a8 791,137 79,289 3.360 310.222 120,111 3,360 114,503 1,215.862 199,400 6,720 At 31 March 2024 867.06S 426.973 114503 1408 542 DEPRECIATION Al1 April 2023 Charge lor year Elimin8leiS on disposal 452,565 122,376 3,360 214,069 52,481 3.360 112,037 1,096 778,671 175,953 6,720 Al 31 March ￿24 571,581 263,190 113,133 947,904 NET BOOK VALUE At 31 March 2024 295,485 163,783 1,370 460,638 Ai 31 March 2023 338,572 96.153 2,466 437.191 Page | 39 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 18. FIXED ASSET INVESTMENTS Company Shares in group undertakings MARKET VALUE Al1 Awl 2W23 and 31 March 2024 NET BOOK VALUE Al 31 Mar¢h 2023 and 31 March 2024 There were ￿ investment asselg outside the UK The ccfflpany's investments al the balan￿ sheet date in the th8re capital of ts)mpan￿$ included the fovowng., South Down$ Lelsure Enlerpr15es Llmiled Icompany number 092615011 Nature ol business.. Op&ralion ol an events venue ass ol share.. Ordinary hdding fjoo 31.3.24 31.3.23 Aggregate c¥ilal and reserves Total ProfiVILossl for Ihe year 266,105 33,176 232,929 2,1271 19. STOCKS Group Company 31.3.24 31.3.23 31.3.24 31.3.23 Stc¢ks 46,980 64,402 46,980 64.402 Stod( amounts recfjgni58d vilhin expendiiure lorthe currenl perbjd are£497.890120YJ.. £395,269). 20. DEBTORS Group Company 313.24 31.3.23 31.3.24 31.3.23 Trade Ilebtors Other debtors VAT Prepayments and ￿Ued income Amwnts oW￿j by gr￿p underta(ings 162,993 39,240 32,176 184,786 87,830 20,437 138,646 39,240 32,176 169,035 134,249 513,346 78,539 20,437 349,427 294,355 28,281 421,612 419,195 457,695 Loan to associate Dver1 year Aggr￿ats amounts 419,195 457,695 513,346 421,612 Page | 40 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARAIITEE NOT THE CONSOLIDATED FI FOR THE YEAR ENDED IALS ATEMENT 1 MARCH 202 . CONTINUED 21. CREDITORS., AMOUNTS FALLING DUE WITHIN ONE YEAR Group Company 31.3.24 31.3.23 31.3.24 31.3.23 Trade uedilus &Kial security and other tax othercred￿tOrS Acuued expenses Deferred income Amounts due lo group undertakings 174,194 11.642 5,758 1,105,561 252,432 241,928 55,301 579,589 667,556 292,840 165,197 230,915 46,374 579,589 667,556 134,598 5,758 1,105,561 133,460 1,549,587 1,837.214 1,409 976 1,659.052 Tht Charitable Company has thileied into forward conliacts lo purchase Utilit￿ in the future al a coDlia(led rate. The forward contracts ielale lo periLK15 span from April 2023 loAwl 2026 and the pur¢hases ol ublities Ihalthe forward contrads relatè lo also span from April 202310 April 2026. The whde change in ffte18ir value ollhe lopward conlrads has been recognised In Other thmprehensive Incfjme al the year end. No amounts were reclassthed from equity to ￿n￿me and expend￿Ur8. Deferred Inc¢me Group Company 31.3.24 31.3.23 31.3.24 31.3.23 Deferred income al the stsrt of the year Deferred during the period ATT￿UnIS released lo In￿Me ff(xN piior ￿riods Oelwred income al the end ollhe year 292,840 252,432 292,840 252,432 220,178 292,840 220,178 292,840 134,598 133,460 134,598 133,460 ,100 134,598 96,100 134,598 Deferied income al 31 March 2024 lorlhe Charflablecompany ￿PreSents annual leisure membership income and hi￿8, hthere the consideralion ha5 been receiv￿1 in the year ended 31 M￿h 2024 bul Ihe seM¢es were only provided folbwing the year end. The Group deferred income also r￿l￿deS venue hire in(x>me under the same pbin¢irAes. 22. PROVISIONS FOR LIABILITIES Group Company 31.12.24 31.12.23 31.12.24 31.12.23 Deferred laxabon 25,124 17.766 Page | 41 SOUTH DOWNS LEISURE ACOMPANY LIMITED BY GUARANTEE TES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 23. OPERATING LEASE COMMITMENTS Minimum lease payments fall due as fdlow8'. Non-can¢ellaNe operating leasgs 31.3.24 31.3.23 Due < 1 year Duè 1-2 years e 2-5 years 7,225 6,808 14.033 0￿rating lease arrnunts recLYJnised wKhln exFenditure lor the curr￿1 ¥8£5,19012023'. £20.9681. 24. ANALYSIS OF NET ASSETS BEfwEEN FUNDS Group 31.3.24 Resbicted funds Total furids 31,3.23 Total funds Unffjstricled funds Fixed Asseis Cuwenl Assets Current Liabilities Long Terni Liabililres 560,127 3.578,134 11,574,711) 560,127 551,023 3,582,896 2.577,459 11,574,711) 11,854,980) 4,782 2,563,550 4,762 2,568,312 1,273,502 Company 31.3,24 Reslricld funds Total funds 31.3.23 Totsl fund8 Unreslricled funds FTxed Assets Investment Current Assets urrenl Liabililtes Long Temi Liabilrties 465,319 465.319 457,519 3,242,101 11,409,976) 4,762 3,246.863 2,242.086 11,409,976) 11,659.0321 2,297,445 4,762 2,302,201 1,040,574 Page | 42 SOUTH DOWNS LEISURE A COMPANY LIMITEO BY GUARANTEE NOTES TO THE COKSOLIDATED FINANCIAL STATEMENTS. CONTINUE FOR THE YEAR ENDED 31 MARCH 2024 24. ANALYSIS OF NET ASSETS BETWEEN FUNDS- ¢ontlnued Comparative inlormalK)n in resFedollhe weceding period is as follows.. Group 31.3.23 Reslricted funds Totsl funds 31.3.22 Total funds Unrestricted funds Fixed As$81s Current Assets Current Liabilities Long Term Liabilities 551.023 2,537,230 11,854,980) 551,023 526,701 2,577,459 2,101,330 11.854.9801 11,012,728) 21,865 1,593.438 40,229 1.233,273 40,229 1,273,502 Company 31.3.23 Unreslricted hjnds RestriGted lund8 Totsl funds 31.3.22 Total lunth Flxed Assets Investment CurtenlAs58ts Current Liabilities long Term Liabilities 457,519 457,519 411,623 2,201,857 11,659,032) 40.229 2,242,086 11.659,0321 1,863,651 1916.8931 1,000,345 40.229 1,040,574 1,358,382 Page | 43 OUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE LIDATED FINANCIAL TE R THE YEAR ENDED 31 MARCH 2024 . CONTINUED 25. MOVEMENT IN FUNDS Group At 1.4.23 Net movement In funds At 31,3,24 Unrestrlcted funds General 234,921 31,184 266,1D5 Designated- Worthing Risk Reserve Dgsignaled- Worthing Business ITllPtovem8nl Reserye Desi9naled- Worthing Palatine Park Designated- Adur Business Improvement Reserve Designated- Sea Lanes Risk Reserve Designated- Sea Lanes Bijsiness Improvem￿1 Reserve Designaled- Palatin2 Park Snking Fund 891.000 659,051 4,414 891,000 1,034,944 14,5991 174,534 125,000 76.566 375,893 19,0131 174,534 125,000 76,566 oosignated ¢ashfk>w hedge 556,113 1,233.273 556,113 1.330,277 2,563,550 R081r1¢l￿ funds R881ricled lunds 40,229 135,4671 4,762 TOTAL FUNDS 1,273,502 1,294,810 2.568,312 Company At1.4.23 Net movemerbl in lunds At 31.3.24 Unrgslrlctad funds Oesignaled- Worthing Ri9k Reserve Oesignaled- Worthing Business Improvement Reserve Designated- Worihing Palatine P Designatsd- Adur Business Improvement Reserve Designated- Sea Lanes Risk Reserve Designated- Sea Lanes Business Improveft*nl ReseN8 Designated- Palatine Path Sinking Fund 891,(K)O 661,044 4,414 891.000 1,034.944 14,5991 174,534 125,Crf)O 76,566 373,900 19.0131 174,534 125,000 76,566 Deslgnalfyl cashfiow hedge 556113 1,000,345 556 113 1,297,100 2.297.445 Re8trlcted fund$ Restricted lund$ 40,229 135,4671 4,762 TOTAL FUNDS 1,040,514 1.261,633 2,302,207 Page | 44 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTESTOTHE CO SOLIDATED FINANCIAL FOR THE YEAR ENDED 31 TATEMENTS- CONTINUED ARCH 2024 25. MOVEMENT IN FUNDS. continued Comparative infomation in respect of the pre￿thng period is as follows,, Group At1.4.22 Net movement in funds At 31.3.23 Unre5tri¢ted lund8 General Designated Designated cashfiow hedge Palatine pafk sinking fund 235,056 1,315,712 234,921 1,554,465 1556,1131 238,753 1556,1131 1,550,768 1317,4951 1,233,273 Restricted lund3 Restricted fund5 42,670 12,4411 40,229 TOTAL FUNDS 1,593,438 319.936 1,273,502 Company At 1.4.22 Net movement in lunds At 31.323 Unieslricled lunds tksignaled Designated cashflow hedge Palatine patk sinking fund 1.315,712 240.746 1556,1131 1,556,458 1556.1131 1,315.712 1315,3671 I,￿0,345 Restricted funds Reslrided funds 42,670 12.4411 40,229 TOTAL FUNDS 1,358,382 317,808 1,040,574 P￿e745 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARAMTEE NOTES TO THE C NSOLIDATED FINANCIAL STATE ENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 202 25. MOVEMENT IN FUNDS- continued Group Income Expendllule Tran8ler$ Net movement In lund8 Unreslrlctgd fund$ General 686,359 1653,1831 11,9921 31,184 De$￿that8d. Wort1￿￿j Rtsk R£setve OesvJnated- Worth"ng Business Imprwmenl R858rv8 Ce$vJnaied- Worthing Palaline Park tlesignai8d- Adur 8u5in&55 lrnprovetnenl ReseNe Do$ignated- Sea Lane5 Risk Reserve Designated- Sea Lanes Business Improv8m8nt Res6Y¥e D88ignalgd- PaL4b￿ Park Sinking Fund 6,146,189 67,559 2,619,921 16,189,372) 176,5721 12,003,303) 419,076 373,893 19,0131 174,534 125,000 76,566 1442.0841 125,000 1125,0001 25,000 1,021.609 1820,0431 125.0001 Designa18d cashfiow hedge $56,113 11,097,750 556,113 1,330,277 19,767.4731 Restricted funds Restricted funds 5,390 140,8571 135,4671 TOTAL FUNDS 11,103,140 19,808,330) 1,294,810 Company Income Expendlture Tran$fer8 Net movemonl In fund8 Unr•stri¢ted fund8 Designated- Worttr￿ng Risk RegeTh D8signaled- Worfhing Bus￿8$$ Imwovernenl R88 D88ignaled- Worihing Pal3tine Park Designated- Adur &Jsiness Inyovemenl Reserve Designated- Sea Lanes Risk Reserve D&s￿nated- Sea LanES 8u5ine55 Imwovemenl Reswv Des￿nated- palati￿ Paik Sinking FuThJ 6,146,189 67,559 2.619,921 16,189,373) 176,5721 12,003,303) 417,084 373,900 19,0131 174.534 125.000 76.566 1442,0841 125,000 1125,0001 25,000 1,021,609 1820,0431 125,0001 Oesignaled cashftow hedge 556,113 10.411,391 556,113 1,297,100 19,114,291) Re$lrl¢led fund$ Restricted funds 5.390 140,8571 135,4671 TOTAL FUNDS 10,416,781 9,155,148 1,261,633 PaJe | 46 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE C NSOLIDATED FINANCIAL STAT MENTS- CONTINUED FOR THE YEAR ENDED 31 MA CH 2024 25. MOVEMENT IN FUNDS- continued Comparatlve information in respect ollhe preCed￿g is as follows Group Income Expenditure Tran$fors Net movement In fvndj Unre$tri¢ted funds G￿er￿1 Designal Designal&l cashflow hedge Palatine park sinking fund 558,872 7.709.410 1559,0071 17,445,657) 1556,1131 25,000 18,585,774 11351 238,753 1556,1131 125,0001 25 000 8,268,282 1317,4951 Reslrictsd funds Restricted funds 1,328 13,7691 12,4411 TOTALFUNDS 8,269,610 18,589,546) 1319,9361 Company Inctsmo Expendlluie Translers Ng1 movement In fund$ Unrestricted funds Designated Designated cashllow hedge Palatine park sinking fund 7,711,402 17,445,656) 1556,1131 25.000 18,026,769) 125,tMIOI 240,746 1556.1131 25,OCK) 7,711,402 1315,3671 Restricted fund$ Reslrided funds 1.328 13.7691 12,4411 TOTAL FUNDS 7,712,730 8,030,538 317,808 Page | 47 SOUTH DOWNS LEI RE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 25. MOVEMENT IN FUNDS- eontlnued Short Breaks Bttddy PT DISC￿￿ted PT sessB)ns and gym ￿59 for ¢hiklren with disabilities aged14-18 years. Walklng Football A lower impac( slowerversk)n ol the game arned al Ihose over 50. Exercise Referral¥ A programme olGP referrals lunded by Adur Ccuncil. Lei$ure Future8 A lunded project lo look into the buildn9 018 new L4sure ￿ntre lo reF4ace WorthiNJ Leisu￿ Centre. Wintsr Pressure$ Chalr Based Pilates The overarching aim ollhe programme is to improve health outcomes and redu￿ fv demand for ser¥￿eS by reducing the ol falls in older people. Almlng High Trampollne Equlpment Funding lor equipment lo support children and youThJ FWtAe with dk48bililies and mobility ISS￿ to take part in Irampolinirsg sesson. Saf• In Sy$$ex Community Grant The grant is ?imed al providing local organisalKJns fina￿la1 support lo reduo £iirne and improve safety in their local areas using various initiatives. Dementla Frlendly Pottery Funding for the provision ol regular'relaxed wllery sessions for people ￿th Dementia a)d ASzhoimels. Dlsability Di8CO A funded projedlo host'Si￿nt DkW)s' for young p*ople with ￿arnIng diffKullie5 and phYs￿al disabilities. WSCC PEollday and Food Grant Wost Sussex County Council offers grant funding lo prOv￿er$ lo deliver adI¥￿ie$ and food dUr￿g the schwl holidays. The Great Outdoors The Great Outdoors AW camp8lgn aims lo remiThl residents ollhe great natural resources ￿ wr th)orslep Palatlne Park Slnkln# Fund From 1 April 2022 a sinking lund will be set asideby SDL payable lolhe loca authorilyln respectolPaaline Pa￿. Commenang 31 M￿h 2023 and every yearthe￿8fter SDL shall Xcrue funds lo the sum 01£25,000. On temiinalion olthedeed, the lease, and the agreement, SDL have noclaimoverthe ￿￿kIng[und &)dtheloolball developmenl fund. In Ihe year, costs were attnjed lo the value 01£25,0(M)12023.. £25,￿01, in reSp￿t olthis $inking fuThJ. The total vaue of Ihè acuual being carr￿d fowrd in the acccAJnls is £50,00012023.. £25.0(xJI, Page148 SOUTH DOWNS LEISURE A COMPANY LIMITED BY GUARANTEE NOTES TO THE CONS LIDATED FINAN IAL STATEMENrs. co FOR THE YEAR ENDED 31 MARCH 2024 INUED 26. CAp￿AL COMMITMENTS Group Company 31.3.24 31.3.23 31.3.24 31.3.23 Contracted loi bul not provKJed for in the financial slalements LEGAL STATUS The Chaiily is a Crmpany limited by guawtse and has no share capila. The liability oleach membgr in the evenlof %Mndin9 up i% limileé to £1. 28. RELATED PARTY TRANSACTIONS During the year &uth Dovms Leisure engaged in Services from Inspace Fitness Limited, a company in which Phillip Grrffin, a Iruslee until his resignation from the board on l February 2024, is a diredor. £77,9fj2 + VAT12023.' £214,y9 + VATI was involced lorgymequipmenl. As at 31 March 2024, South Downs Leisureowed £nil12023.' £26,26411o Inspace Fllness Limited. During the year Ihe Soulh Dovms L￿sUre G￿Jp received income from a re181ed party, Mark Byedey (operat￿nS Direct￿1. The income relates lo the rent ol a property ovmed by Ihe trust, with sa￿S coming lo £5,40012023.. £5,400), Th&r8 was £nil 12023.. £nill owed lo the gtrsup althe year end. South Down8 Lel8ure Enlerpr18e8 Llmked During 2018 a108n of £158,000 was made lo South Oowns Leisure Entsrpri86s Limited, a company fully owned by &wlh Downs Leisu￿, ala commeraal rate of6UA perannum. During Iheyear£nil was repaid12023.. £31,600) which incurred interest ol £nil12023.' £1,991). At 31 March 2024 £nil12023: £ nil) was wtslanding and is nduded in creditors in the Charitable Company. ring the year coslg were recharged lo South Downs Leisure Enterprises for w￿e$, rent. M￿￿Jement tharges and VAT, as al 31 March 2024 South Down5 Leisure Enterprises was owed £nil Ifom the p¥enl12023'. £ niD. Th8 paienl company was owed £134.24912023'. £28,281) from the subsKliary as al 31 March 2024. Page | 49